|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELECTROLUX LAUNDRY SYSTEMS |
|
|
|
|
Registered Office : |
34180 Ljungby |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
08.08.1898 |
|
|
|
|
Com. Reg. No.: |
5560030354 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
·
Engaged in
Design and manufacturing of
Professional laundry and food equipment including Software Development ·
Manufacturer
of machinery for Textile,
Apparel and Leather Production · Manufacturer of Electric Domestic Appliances |
|
|
|
|
No of Employees : |
451 (2013) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Sweden |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Sweden ECONOMIC OVERVIEW
Aided by peace and neutrality
for the whole of the 20th century, Sweden has achieved an enviable standard of
living under a mixed system of high-tech capitalism and extensive welfare
benefits. It has a modern distribution system, excellent internal and external
communications, and a highly skilled labor force. In September 2003, Swedish
voters turned down entry into the euro system concerned about the impact on the
economy and sovereignty. Timber, hydropower, and iron ore constitute the
resource base of an economy heavily oriented toward foreign trade. Privately
owned firms account for vast majority of industrial output, of which the
engineering sector accounts for about 50% of output and exports. Agriculture
accounts for little more than 1% of GDP and of employment. Until 2008, Sweden
was in the midst of a sustained economic upswing, boosted by increased domestic
demand and strong exports. This, and robust finances, offered the center-right
government considerable scope to implement its reform program aimed at
increasing employment, reducing welfare dependence, and streamlining the
state's role in the economy. Despite strong finances and underlying
fundamentals, the Swedish economy slid into recession in the third quarter of
2008 and the contraction continued in 2009 as deteriorating global conditions
reduced export demand and consumption. Strong exports of commodities and a
return to profitability by Sweden's banking sector drove a rebound in 2010, but
growth slipped in 2013, as a result of continued economic weakness in the EU -
Sweden’s main export market.
|
Source : CIA |
|
Business Name |
Electrolux Laundry Systems Sweden Aktiebolag |
|
Country |
SWEDEN |
|
Company Registration Number |
5560030354 |
|
Activity Description |
·
Engaged in
Design and manufacturing of Professional laundry and food equipment Including
software development ·
Manufacturer
of machinery for Textile,
Apparel and Leather Production ·
Manufacturer of Electric Domestic Appliances |
|
Company Status |
Active (Active) |
|
Latest Turnover Figure |
1.440.070.000 SEK |
|
Latest Shareholder Equity Figure |
40.625.000 SEK |
|
Local Description |
Very good credit
worthiness |
Basic Information
|
|
|
Business Name |
Electrolux Laundry
Systems Sweden Aktiebolag |
|
Registered Company Name |
Electrolux Laundry
Systems Sweden Aktiebolag |
|
Company Registration Number |
5560030354 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556003035401 |
|
Date of Company Registration |
08/08/1898 |
|
Legal Form |
Limited liability
company |
|
Company Status |
Active (Active) |
|
Currency of this Report |
SEK |
|
Principal Activity Code |
No code |
|
Principal Activity Description |
The
Company shall operate production and of sale of machinery and accessories,
principally designed for the cleaning, as well as to conduct other related
operations. |
|
Contact Address |
34180 LJUNGBY |
|
Contact Telephone Number |
0372-66100 |
|
Address |
Country Telephone |
|
34180 LJUNGBY |
SWEDEN 0372-66100 |
|
Address |
Country |
|
Sangleksgatan 8
B, 21579 |
SWEDEN |
|
Sankt
Goransgatan 143,11217 |
SWEDEN |
|
Gamlestadsvagen
18,41502 |
SWEDEN |
·
Engaged in Design
and manufacturing of Professional laundry and food equipment Including software
development
·
Manufacturer
of machinery for Textile, Apparel
and Leather Production
· Manufacturer of Electric Domestic Appliances
|
Email Addresses |
No
email addresses for this company |
|
Web Pages |
|
Year |
Number of Employees |
|
2013 |
451 |
|
2012 |
476 |
|
2011 |
472 |
|
2010 |
474 |
|
2009 |
490 |
Advisors
|
|
|
Auditor Name |
Ohrlings
PricewaterhouseCoopers AB |
|
Registered for Tax |
Yes |
|
Registered for VAT |
Yes |
|
Registered for Employee Tax |
Yes |
|
Type |
Category Issuer |
|
No certificate information
for this company |
|
Industry Comparison
|
|
|
Activity Code |
28940 |
|
Activity Description |
Manufacture of
machinery for textile, apparel and leather production |
Event Date Event Description
|
05/11/2014 |
Company representatives, changed |
|
20/08/2014 |
Annual account, new |
|
14/08/2014 |
Annual report (PDF), new |
|
04/06/2014 |
Group Structure Change |
|
10/04/2014 |
Company representatives, changed |
|
10/04/2014 |
Authorised signatories amended or new/amended vacancy text |
|
14/09/2013 |
Authorised signatories amended or new/amended vacancy text |
|
14/09/2013 |
Company representatives, changed |
|
29/08/2013 |
Group Structure Change |
|
13/08/2013 |
Annual account, new |
|
06/08/2013 |
Certificate, deregistered |
|
23/07/2013 |
Annual report (PDF), new |
|
23/07/2013 |
Company representatives, changed |
|
23/07/2013 |
Authorised signatories amended or new/amended vacancy text |
|
03/07/2013 |
Group Structure Change |
|
18/06/2013 |
Group Structure Change |
|
20/05/2013 |
Group Structure Change |
|
03/10/2012 |
Company representatives, changed |
|
03/10/2012 |
Authorised signatories amended or new/amended vacancy text |
|
02/10/2012 |
Certificate, registered |
|
04/09/2012 |
Annual account, new |
|
31/07/2012 |
Annual report (PDF), new |
|
03/07/2012 |
Certificate, deregistered |
|
02/09/2011 |
Interim report (PDF), new |
|
09/08/2011 |
Annual account, new |
|
19/07/2011 |
Annual report (PDF), new |
|
23/07/2010 |
Annual account, new |
|
12/07/2010 |
Annual report (PDF), new |
|
02/07/2010 |
Board, changed |
|
10/06/2010 |
Company representatives, changed |
|
10/06/2010 |
Board, changed |
|
10/06/2010 |
Authorised signatory, changed |
No status history
events for this company
|
Financial Year |
2013 |
2012 |
2011 |
|
||
|
Number of Weeks |
52 |
52 |
52 |
|
||
|
Currency |
SEK |
SEK |
SEK |
|
||
|
Consolidated Accounts |
No |
No |
No |
|
||
|
Revenue |
1.443.333.000 |
1.461.721.000 |
1.527.381.000 |
|
||
|
Operating
Costs |
1.311.311.000 |
1.345.488.000 |
1.389.995.000 |
|||
|
Operating
Profit |
132.022.000 |
116.233.000 |
137.386.000 |
|||
|
Financial
Income |
160.000 |
504.000 |
781.000 |
|||
|
Financial
Expenses |
-151.000 |
-71.000 |
-91.000 |
|||
|
Extraordinary
Income |
0 |
0 |
0 |
|||
|
Extraordinary
Costs |
0 |
0 |
0 |
|||
|
Profit
before Tax |
132.031.000 |
116.666.000 |
138.076.000 |
|||
|
Tax |
-2.549.000 |
4.258.000 |
-5.629.000 |
|||
|
Profit
after Tax |
129.482.000 |
120.924.000 |
132.447.000 |
|||
|
Minority
Interests |
0 |
0 |
0 |
|||
|
Other
Appropriations |
-121.837.000 |
-139.290.000 |
-114.478.000 |
|||
|
Retained
Profit |
7.645.000 |
-18.367.000 |
17.969.000 |
|||
|
Financial
Year |
2013 |
2012 |
2011 |
||
|
Number
of Weeks |
52 |
52 |
52 |
||
|
Currency |
SEK |
SEK |
SEK |
||
|
Consolidated
Accounts |
No |
No |
No |
||
|
Land
& Buildings |
28.890.000 |
29.881.000 |
13.146.000 |
||
|
Plant
& Machinery |
68.589.000 |
57.123.000 |
56.105.000 |
||
|
Other
Tangible Assets |
19.566.000 |
31.211.000 |
28.434.000 |
||
|
Total
Tangible Assets |
117.045.000 |
118.215.000 |
97.685.000 |
||
|
Goodwill |
0 |
0 |
0 |
||
|
Other
Intangible Assets |
0 |
0 |
0 |
||
|
Total
Intangible Assets |
0 |
0 |
0 |
||
|
Loans
To Group |
0 |
0 |
0 |
||
|
Other
Loans |
0 |
0 |
0 |
||
|
Miscellaneous Fixed Assets |
6.911.000 |
9.150.000 |
0 |
||
|
Total
Other Fixed Assets |
6.911.000 |
9.150.000 |
0 |
||
|
TOTAL
FIXED ASSETS |
123.956.000 |
127.365.000 |
97.685.000 |
||
|
Work
In Progress |
0 |
0 |
0 |
||
|
Other
Inventories |
142.904.000 |
154.235.000 |
149.746.000 |
||
|
Total
Inventories |
142.904.000 |
154.235.000 |
149.746.000 |
||
|
Trade
Receivables |
127.148.000 |
120.751.000 |
119.332.000 |
||
|
Group
Receivables |
123.683.000 |
132.956.000 |
141.720.000 |
||
|
Miscellaneous
Receivables |
15.183.000 |
17.604.000 |
13.788.000 |
||
|
Total
Receivables |
266.014.000 |
271.311.000 |
274.840.000 |
||
|
Cash |
-64.000 |
3.672.000 |
224.000 |
||
|
Other
Current Assets |
0 |
0 |
0 |
||
|
TOTAL
CURRENT ASSETS |
408.854.000 |
429.218.000 |
424.810.000 |
||
|
TOTAL
ASSETS |
532.810.000 |
556.583.000 |
522.495.000 |
||
|
Trade
Payables |
107.379.000 |
94.988.000 |
118.577.000 |
||
|
Bank
Liabilities |
0 |
0 |
0 |
||
|
Group
Payables |
167.283.000 |
196.708.000 |
118.783.000 |
||
|
Miscellaneous
Liabilities |
117.672.000 |
121.005.000 |
157.622.000 |
||
|
TOTAL CURRENT LIABILITIES |
392.334.000 |
412.701.000 |
394.982.000 |
||
|
Bank Liabilities Due After 1 Year |
0 |
0 |
0 |
||
|
Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
||
|
Group Payables Due After 1 Year |
0 |
0 |
0 |
||
|
Miscellaneous Liabilities Due After 1 Year |
99.851.000 |
110.902.000 |
76.166.000 |
||
|
TOTAL LONG TERM LIABILITIES |
99.851.000 |
110.902.000 |
76.166.000 |
||
|
TOTAL LIABILITIES |
492.185.000 |
523.603.000 |
471.148.000 |
||
|
Called Up Share Capital |
25.000.000 |
25.000.000 |
25.000.000 |
||
|
Share Premium |
0 |
0 |
0 |
||
|
Revenue Reserves |
10.625.000 |
2.980.000 |
21.347.000 |
||
|
Other Reserves |
5.000.000 |
5.000.000 |
5.000.000 |
||
|
TOTAL SHAREHOLDERS EQUITY |
40.625.000 |
32.980.000 |
51.347.000 |
||
|
Financial
Year |
2013 |
2012 |
2011 |
||
|
Number
of Weeks |
52 |
52 |
52 |
||
|
Currency |
SEK |
SEK |
SEK |
||
|
Consolidated
Accounts |
No |
No |
No |
||
|
Contingent Liabilities |
2.929.000 |
2.842.000 |
2.743.000 |
|||
|
Working Capital |
16.520.000 |
16.517.000 |
29.828.000 |
|||
|
Net Worth |
40.625.000 |
32.980.000 |
51.347.000 |
|||
|
Financial
Year |
2013 |
2012 |
2011 |
||
|
Number
of Weeks |
52 |
52 |
52 |
||
|
Currency |
SEK |
SEK |
SEK |
||
|
Consolidated
Accounts |
No |
No |
No |
||
|
Pre-Tax Profit Margin |
9.15 % |
7.98 % |
9.04 % |
|||
|
Return On Capital Employed |
14.27 % |
12.04 % |
15.05 % |
|||
|
Return On Total Assets Employed |
24.78 % |
20.96 % |
26.43 % |
|||
|
Return On Net Assets Employed |
325.00 % |
353.75 % |
268.91 % |
|||
|
Sales/Net Working Capital |
87.37 |
88.50 |
51.21 |
|||
|
Stock Turnover Ratio |
9.90 % |
10.55 % |
9.80 % |
|||
|
Debtor Days |
32.15 |
30.15 |
28.52 |
|||
|
Creditor Days |
27.15 |
23.72 |
28.34 |
|||
|
Current Ratio |
1.04 |
1.04 |
1.08 |
|||
|
Liquidity Ratio/Acid Test |
0.68 |
0.67 |
0.70 |
|||
|
Current Debt Ratio |
9.66 |
12.51 |
7.69 |
|||
|
Gearing |
0 |
0 |
0 |
|||
|
Equity In Percentage |
7.72 % |
6.02 % |
9.83 % |
|||
|
Total Debt Ratio |
12.12 |
15.88 |
9.18 |
|||
|
Issued Share Capital |
25.000.000 SEK |
|
No shareholders data for this company.
|
Name |
|
|
Appointment
Date Position |
|
|
Corda, Andrea |
|
|
13/09/2013 |
Actual Member
of Board |
|
Alf Christer Agren |
|
|
09/04/2014 |
Actual Member
of Board |
|
Gerd Inger Almlof |
|
|
11/08/2009 |
Actual Member
of Board |
|
Lars Anders
Tarnholm |
|
|
02/10/2012 |
Actual Member
of Board |
|
Ulf John Erik
Karlsson |
|
|
19/04/1999 |
Actual Member
of Board |
|
Lars Gote Ingolf
Larsson |
|
|
11/08/2009 |
Substitute |
|
Per Ola Goran
Magnusson |
|
|
31/08/1995 |
Substitute |
|
Name |
Appointment
Date |
Position Resignation Date |
|
Bert Verner
Nordholm |
19/04/1999 |
Actual Member
of Board 09/04/2014 |
|
Paivaniemi, Harri
Antero |
09/06/2010 |
Actual Member
of Board 13/09/2013 |
|
Hanna Maria
Nilsson |
09/06/2010 |
Actual Member
of Board 02/10/2012 |
|
Lars Ake Johannes
Olofsson |
25/02/2009 |
Chairman of
Board 09/06/2010 |
|
Evert Ingemar
Ussaar |
17/07/2001 |
Actual Member
of Board 09/06/2010 |
|
Record of Non Payment |
|
|
Number Of Revoked
Applications |
4 |
No Latest Public Claim for this
company.
No Latest Private Claim for this company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
UK Pound |
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.