MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
OY NORDIC CAST SOURCING AB |
|
|
|
|
Formerly Known As : |
OY NWH SOURCING AB |
|
|
|
|
Registered Office : |
Mechelininkatu 6, 00100, HELSINKI |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.04.2005 |
|
|
|
|
Com. Reg. No.: |
19545852 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesaler of metal and mineral products |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Finland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
FINLAND - ECONOMIC OVERVIEW
Finland has a highly industrialized, largely free-market economy with per capita output almost as high as that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. Finland is strongly competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in high-tech exports such as mobile phones. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010-11, however, continued recession the the EU dampened the economy in 2012-13. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland took action to ensure it that it met the EU deficit targets in 2013 and retained its triple-A credit rating. Finland's main challenge will be to stimulate growth while faced with weak export demand in the EU and its own government austerity measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.
|
Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
|
Trading
Name |
Nordic Cast Sourcing Oy Ab |
Trade
Registry Number |
|
|
|
|
Company
Name |
Oy Nordic Cast Sourcing Ab |
Business
ID |
19545852 |
|
|
|
Previous
Name |
Oy NWH Sourcing Ab |
|
|
|
|
|
Telephone
Number |
0102193080 |
Registered
Address |
Mechelininkatu 6, 00100, HELSINKI |
|
|
|
Fax
Number |
09628288 |
Visiting
Address |
Mechelininkatu 6, 00100, HELSINKI |
|
|
|
Home
Municipality |
Helsinki |
Postal
Address |
-, -, - |
|
|
|
Incorporation
Date |
01.04.2005 |
Branches |
1 |
|
|
|
Company
Type |
Limited company |
Website
Address |
|
|
|
|
Primary
Sic Code |
46733 |
Accountant |
Adekva Tilintarkastus Oy |
||
|
Primary
Sic Description |
Wholesale of metal and mineral products |
Last
Accounts Date |
31.12.2012 |
|
|
|
Share
Capital (€) |
8.296 |
Holding
Company |
|
|
|
|
Deals
in importing |
Yes |
Foreign
Ownership |
|
|
|
|
Deals
in exporting |
No |
Currency |
EUR |
|
|
Registrations in Force
|
|
State |
Registration Date |
|
Tax
Administration |
Registered |
24.05.2005 |
|
Trade
Register |
Registered |
01.04.2005 |
|
Employer
Register |
Registered |
01.01.2010 |
|
Prepayment
Register |
Registered |
01.03.2006 |
|
Value
Added Tax-Liability |
VAT-liable for business activity |
01.07.2005 |
Business History
|
Date |
Event |
Source Company Name |
|
30.01.2010 |
Merger |
Circes
Oy merged into Nordic Cast Sourcing Oy Ab |
|
29.01.2010 |
Merger |
Circes
Oy merged into Nordic Cast Sourcing Oy Ab |
DIRECTORS/MANAGEMENT
Current Directors
|
Name |
Blomstedt Edward Ivo William |
|
|
|
Date
of Birth |
13.05.1981 |
Appointment
Date |
29.01.2010 |
|
Nationality |
FINLAND |
Function |
Managing director |
|
Name |
Braithwaite Veronika |
|
|
|
Date
of Birth |
10.02.2047 |
Appointment
Date |
07.06.2012 |
|
Nationality |
FINLAND |
Function |
Chairman of Board |
|
Name |
Blomstedt Edward Ivo William |
|
|
|
Date
of Birth |
13.05.1981 |
Appointment
Date |
07.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Jusélius Nils Jussi Holgersson |
|
|
|
Date
of Birth |
26.05.2047 |
Appointment
Date |
07.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Blomstedt Robert Carl-Johan Vianor |
|
|
|
Date
of Birth |
08.02.1983 |
Appointment
Date |
07.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
Other Company Officials
|
Name |
Blomstedt Robert Carl-Johan Vianor |
|
|
|
Date
of Birth |
08.02.1983 |
Appointment
Date |
14.02.2007 |
|
Nationality |
FINLAND |
Function |
Authority to sign |
|
Name |
Blomstedt Edward Ivo William |
|
|
|
Date
of Birth |
13.05.1981 |
Appointment
Date |
14.02.2007 |
|
Nationality |
FINLAND |
Function |
Authority to sign |
NEGATIVE
INFORMATION
No negative information given.
SHARE
& SHARE CAPITAL INFORMATION
Shareholder
Information
|
Year |
31.12.2012 |
|
|
Total
Value of Shares |
8.296 |
|
|
Number
of Shares |
1.037 |
|
|
Value
of Shares |
8 |
|
PAYMENT
INFORMATION
Na
GROUP
STRUCTURE & AFFILIATED COMPANIES
Group structure
|
Company Name |
|
Registered Number |
Latest Key Financials |
Percentage Owned |
Rating |
Limit |
Turnover |
|
|
|
19545852 |
31.12.2012 |
- |
53 |
€22 000 |
€3 854 233 |
|
|
|
N/A |
- |
75% |
- |
- |
- |
|
|
|
17013094 |
31.12.2012 |
75% |
66 |
€500 |
€59 907 |
OY
NORDIC CAST SOURCING AB FINANCIAL
INFORMATION
Key Financials (€)
|
Year |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
|
|
Number
of weeks |
52 |
|
52 |
|
52 |
|
|
|
Turnover |
3.854.233 |
-5% |
4.057.210 |
35% |
3.015.264 |
|
|
|
Operating
Profit/Loss |
-51.060 |
- |
222.073 |
30% |
171.445 |
|
|
|
Profit/Loss
after Financial Items |
-92.882 |
- |
101.483 |
-19% |
124.837 |
|
|
|
Profit/Loss
after tax |
-92.692 |
- |
74.074 |
-19% |
91.019 |
|
|
|
Current
Assets |
1.993.776 |
-6% |
2.117.878 |
40% |
1.515.619 |
|
|
|
Fixed
Assets |
140.425 |
14% |
123.435 |
37% |
90.165 |
|
|
|
Long
Term Debts |
587.990 |
100% |
294.445 |
96% |
150.000 |
|
|
|
Current
Liabilities |
986.419 |
-22% |
1.258.384 |
56% |
805.374 |
|
|
|
Shareholders
Equity |
559.792 |
-19% |
688.484 |
6% |
650.410 |
|
|
|
Balance
sheet total |
2.134.201 |
-5% |
2.241.313 |
40% |
1.605.784 |
|
|
|
Number
of employees |
6 |
|
- |
|
- |
|
|
|
Auditor
qualification |
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
|
|
Ratios
|
Year |
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
|
Solvency
Ratio |
26% |
|
31% |
|
41% |
|
|
|
|
Moderate Indebtedness |
|
Moderate Indebtedness |
|
Exceptionally Low Indebtedness |
|
|
|
Net
margin (%) |
-2% |
|
3% |
|
4% |
|
|
|
Interest
Coverage Ratio (times) |
-1 |
|
2 |
|
3 |
|
|
|
Gearing
(%) |
240% |
|
124% |
|
41% |
|
|
|
Liquidity
Ratio/Acid Test |
1 |
|
1 |
|
1 |
|
|
|
Risk
Buffer (%) |
-5% |
|
2% |
|
5% |
|
|
Profit & Loss (€)
|
|
Operating Income |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
|
|
|
Number
of weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Consolidated
Accounts |
no |
|
no |
|
no |
|
|
|
|
Sales
Revenue |
3.854.233 |
-5% |
4.057.210 |
35% |
3.015.264 |
|
|
|
|
Other
Operating Income |
4.133 |
- |
0 |
- |
8.131 |
|
|
|
|
Total
Operating Income |
3.858.366 |
-5% |
4.057.210 |
34% |
3.023.395 |
|
|
|
|
Wages
& Salaries |
245.759 |
14% |
214.952 |
3% |
209.401 |
|
|
|
|
Depreciation |
37.948 |
21% |
31.486 |
83% |
17.198 |
|
|
|
|
Total
Operating Expenses |
3.909.426 |
2% |
3.835.137 |
34% |
2.851.950 |
|
|
|
|
Operating
Profit/Loss |
-51.060 |
- |
222.073 |
30% |
171.445 |
|
|
|
|
Result From Financial Investments |
|||||||
|
|
Financial
Income |
3.161 |
-78% |
14.387 |
90% |
7.561 |
|
|
|
|
Financial
Expenses |
44.983 |
-67% |
134.977 |
149% |
54.169 |
|
|
|
|
Total
Financial Investments |
-41.822 |
- |
-120.590 |
- |
-46.608 |
|
|
|
|
Profit/Loss
after Financial Items |
-92.882 |
- |
101.483 |
-19% |
124.837 |
|
|
|
|
Extraordinary
Income |
0 |
- |
0 |
- |
0 |
|
|
|
|
Extraordinary
Expenses |
0 |
- |
0 |
- |
0 |
|
|
|
|
Profit/Loss
Before Tax |
-92.882 |
- |
101.484 |
-19% |
124.837 |
|
|
|
|
Tax |
-190 |
- |
27.410 |
-19% |
33.818 |
|
|
|
|
Profit/Loss
After Tax |
-92.692 |
- |
74.074 |
-19% |
91.019 |
|
|
Balance Sheet (€)
|
|
Assets |
12.2012 |
% |
12.2011 |
% |
12.2010 |
|
|
|
|
Number
of weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Consolidated
Accounts |
no |
|
no |
|
no |
|
|
|
|
Fixed Assets |
|||||||
|
|
Intangible Assets |
49.254 |
-25% |
65.673 |
122% |
29.554 |
|
|
|
|
Tangible
Assets |
64.584 |
37% |
47.213 |
-8% |
51.594 |
|
|
|
|
Other
Fixed Assets |
26.587 |
152% |
10.549 |
17% |
9.017 |
|
|
|
|
Total
Fixed Assets |
140.425 |
14% |
123.435 |
37% |
90.165 |
|
|
|
|
Current Assets |
|||||||
|
|
Inventories |
1.099.594 |
-6% |
1.166.712 |
21% |
965.823 |
|
|
|
|
Trade
Receivables |
775.648 |
20% |
647.973 |
55% |
419.209 |
|
|
|
|
Other
Receivables |
113.660 |
-60% |
282.073 |
207% |
92.007 |
|
|
|
|
Cash
& Bank Balances |
4.874 |
-77% |
21.120 |
-45% |
38.580 |
|
|
|
|
Other
Current Assets |
0 |
- |
0 |
- |
0 |
|
|
|
|
Total
Current Assets |
1.993.776 |
-6% |
2.117.878 |
40% |
1.515.619 |
|
|
|
|
Total
Assets |
2.134.201 |
-5% |
2.241.313 |
40% |
1.605.784 |
|
|
Equity and Liabilities (€)
|
|
EQUITY |
|||||||
|
|
Share
Capital |
8.296 |
0% |
8.296 |
0% |
8.296 |
|
|
|
|
Share Premium
Reserve |
0 |
- |
0 |
- |
0 |
|
|
|
|
Retained
Earnings |
171.496 |
-43% |
300.188 |
15% |
262.114 |
|
|
|
|
Other
Reserves |
380.000 |
0% |
380.000 |
0% |
380.000 |
|
|
|
|
Total
Equity |
559.792 |
-19% |
688.484 |
6% |
650.410 |
|
|
|
|
LONG TERM LIABILITIES |
|||||||
|
|
Long
Term Liabilities to Financial Institutions |
487.990 |
66% |
294.445 |
96% |
150.000 |
|
|
|
|
Other
Long Term Liabilities Finance |
100.000 |
- |
0 |
- |
0 |
|
|
|
|
Other
Long Term Liabilities |
0 |
- |
0 |
- |
0 |
|
|
|
|
Total
Long Term Debts |
587.990 |
100% |
294.445 |
96% |
150.000 |
|
|
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade
Payables |
94.382 |
-83% |
571.042 |
-7% |
616.235 |
|
|
|
|
Liabilities
to Financial Institutions |
757.331 |
35% |
560.172 |
370% |
119.269 |
|
|
|
|
Other
Short Term Financial Loans |
0 |
- |
0 |
- |
0 |
|
|
|
|
Other
Short Term Liabilities |
134.706 |
6% |
127.170 |
82% |
69.870 |
|
|
|
|
Total Current
Liabilities |
986.419 |
-22% |
1.258.384 |
56% |
805.374 |
|
|
|
|
Total
Liabilities |
1.574.409 |
1% |
1.552.829 |
63% |
955.374 |
|
|
|
|
Total
Equity & Liabilities |
2.134.201 |
-5% |
2.241.313 |
40% |
1.605.784 |
|
|
Other Financials (€)
|
|
Working
Capital |
1.007.357 |
17% |
859.494 |
21% |
710.245 |
|
|
|
|
Net
Worth |
510.538 |
-18% |
622.811 |
0% |
620.856 |
|
|
Key Ratios
|
|
|
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
|
|
Number
of weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Consolidated
Accounts |
no |
|
no |
|
no |
|
|
|
|
PROFITABILITY |
|||||||
|
|
Net
Margin % |
-2,4% |
|
2,5% |
|
4,1% |
|
|
|
|
Operating
Profit/Loss % |
-1,3% |
|
5,5% |
|
5,7% |
|
|
|
|
Pre-Tax
Profit Margin % |
-2,4% |
|
2,5% |
|
4,1% |
|
|
|
|
TRADING PERFORMANCE |
|||||||
|
|
Return
on Net Assets Employed % |
-16,6% |
|
14,7% |
|
19,2% |
|
|
|
|
Return
on Total Capital % |
-2,2% |
|
10,6% |
|
11,2% |
|
|
|
|
Interest
Coverage Ratio (times) |
-1 |
|
2 |
|
3 |
|
|
|
|
Return
on Capital Employed % |
-8,1% |
|
10,3% |
|
15,6% |
|
|
|
|
Return
on Total Assets Employed % |
-4,4% |
|
4,5% |
|
7,8% |
|
|
|
|
Interest
on Debt % |
2,9% |
|
8,7% |
|
5,7% |
|
|
|
|
Risk
Buffer % |
-5,1% |
|
1,9% |
|
5,5% |
|
|
|
|
SHORT TERM LIQUIDITY |
|||||||
|
|
Liquidity
Ratio/Acid Test |
1 |
|
1 |
|
1 |
|
|
|
|
Current
Ratio % |
202,0% |
|
168,0% |
|
188,0% |
|
|
|
|
Debtor
Days |
73 |
|
58 |
|
51 |
|
|
|
|
Working
capital |
1.007.357 |
|
859.494 |
|
710.245 |
|
|
|
|
LONG TERM LIQUIDITY |
|||||||
|
|
Equity
Ratio % |
26,2% |
|
30,7% |
|
40,5% |
|
|
|
|
Gearing
% |
240,3% |
|
124,1% |
|
41,4% |
|
|
|
|
Current
Debt Ratio |
2 |
|
2 |
|
1 |
|
|
|
|
Total
Debt Ratio |
3 |
|
2 |
|
1 |
|
|
|
|
Relative
debt % |
40,9% |
|
38,3% |
|
31,7% |
|
|
|
|
BUSINESS MEASURES |
|||||||
|
|
Change
in turnover % |
-5,0% |
|
34,6% |
|
- |
|
|
|
|
Turnover/employees |
642372 |
|
- |
|
- |
|
|
|
|
Sales/Net
Working Capital |
4 |
|
5 |
|
4 |
|
|
|
|
Stock
Turnover Ratio % |
28,5% |
|
28,8% |
|
32,0% |
|
|
|
|
Creditor
Days |
9 |
|
51 |
|
75 |
|
|
|
|
Equity
in Percentage % |
27,2% |
|
31,8% |
|
41,5% |
|
|
FOREIGN
EXCHANGE RATES
Na
ADDITIONAL
INFORMATION
Linked Companies
|
No linked companies |
NOTES
& COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.64 |
|
|
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DVY |
|
|
|
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.