MIRA INFORM REPORT

Report Date :

24.12.2014

IDENTIFICATION DETAILS

Name :	AGO AB
Registered Office :	Box 7508,10392 Stockholm
Country :	Sweden
Financials (as on) :	2013
Date of Incorporation :	27.03.1985
Com. Reg. No.:	5562579226
Legal Form :	Limited Liability Company
Line of Business :	· The Company shall carry on trade with giveaways, commercials and advertisements, as well as with stamps and to exercise related business. · Advertising Agency Activities.
No. of Employee :	13

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

Company Summary
Business Name	AGO AB
Country	SWEDEN
Company Registration Number	5562579226
Activity Code	73111
Activity Description	Advertising agency activities
Company Status	Active (Active)
Latest Turnover Figure	40.351.000 SEK
Latest Shareholder Equity Figure	11.080.000 SEK
Basic Information
Business Name	AGO AB
Registered Company Name	AGO AB
Company Registration Number	5562579226
Country	SWEDEN
VAT Registration Number	SE556257922601
Date of Company Registration	27/03/1985
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 carry on trade with giveaways, commercials and advertisements, as well as with stamps and to exercise related business.
Contact Address	Box 7508,10392 STOCKHOLM
Contact Telephone Number	08-56303300
Main Address
Address	Country Telephone
Box 7508,10392 Stockholm	SWEDEN 08-56303300

Other Address

Address	Country
No other addresses for this company
Activities Activity Code	Activity Description
73111	Advertising agency activities
Email Addresses
info@ago.se
Web Pages No websites for this company
Employee Information
Year	Number of Employees
2013	13
2012	13
2011	12
2010	16
2009	19
Advisors
Auditor Name	Ernst & Young Aktiebolag
Tax Registrations
Registered for FTax	Yes
Registered for VAT	Yes
Registered for Employee Tax	Yes
Certificates
Type	Category Issuer
No certificate information for this company
Industry Comparison
Activity Code	73111
Activity Description	Advertising agency activities
Industry Average Credit Rating	72 (1 - 100)
Industry Average Credit Limit	15.000
Event History
Event Date	Event Description
13/08/2014	Group Structure Change
28/07/2014	Limit, increase
28/07/2014	Annual account, new
22/07/2014	Annual report (PDF), new
04/07/2014	Group Structure Change
06/01/2014	Group Structure Change
26/08/2013	Group Structure Change
15/07/2013	Group Structure Change
05/07/2013	Limit, increase
05/07/2013	Annual account, new
27/06/2013	Annual report (PDF), new
08/05/2013	Company representatives, changed
08/05/2013	Authorised signatories amended or new/amended vacancy text
18/01/2013	Limit, decrease
12/01/2013	Limit, increase
08/01/2013	Certificate, registered
08/01/2013	Company representatives, changed
08/01/2013	Authorised signatories amended or new/amended vacancy text
20/12/2012	Certificate, deregistered
28/11/2012	Limit, decrease
12/10/2012	Company representatives, changed
13/09/2012	Annual account, new
13/09/2012	Limit, decrease
23/07/2012	Annual report (PDF), new
11/10/2011	Board, changed
11/10/2011	Authorised signatories amended or new/amended vacancy text
11/10/2011	Company representatives, changed
28/07/2011	Group annual accout, new
28/07/2011	Limit, increase
28/07/2011	Annual account, new
15/07/2011	Annual report (PDF), new
29/03/2011	Fax number, new
29/03/2011	Phone number, new
10/08/2010	Limit, decrease
10/08/2010	Annual account, new
27/07/2010	Annual report (PDF), new
17/06/2010	Board, changed
17/06/2010	Authorised signatory, changed
17/06/2010	Company representatives, changed

Status History

No status history events for this company

Profit & Loss

Financial Year	2013	2012	2011
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Revenue	40.720.000	40.951.000	28.456.000
Operating Costs	40.029.000	40.636.000	31.426.000
Operating Profit	691.000	315.000	-2.970.000
Wages & Salaries	-6.800.000	-6.118.000	-7.762.000
Depreciation	-189.000	-345.000	-210.000
Financial Income	199.000	160.000	227.000
Financial Expenses	-228.000	-270.000	-163.000
Extraordinary Income	0	0	0
Extraordinary Costs	0	0	0
Profit before Tax	662.000	205.000	-3.013.000
Tax	0	0	0
Profit after Tax	662.000	205.000	-3.013.000
Minority Interests	0	0	0
Other Appropriations	0	0	0
Retained Profit	662.000	205.000	-3.013.000
Balance Sheet
Financial Year	2013	2012	2011
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Land & Buildings	0	0	0
Plant & Machinery	0	0	0
Other Tangible Assets	57.000	227.000	532.000
Total Tangible Assets	57.000	227.000	532.000
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	80.000	80.000	80.000
Total Other Fixed Assets	80.000	80.000	80.000
TOTAL FIXED ASSETS	136.000	306.000	612.000
Work In Progress	0	0	0
Other Inventories	6.892.000	7.408.000	6.561.000
Total Inventories	6.892.000	7.408.000	6.561.000
Trade Receivables	10.309.000	15.518.000	4.657.000
Group Receivables	154.000	24.000	24.000
Miscellaneous Receivables	1.827.000	3.586.000	1.843.000
Total Receivables	12.290.000	19.128.000	6.524.000
Cash	1.268.000	1.428.000	2.247.000
Other Current Assets	0	0	4.000.000
TOTAL CURRENT ASSETS	20.451.000	27.964.000	19.332.000
TOTAL ASSETS	20.587.000	28.270.000	19.944.000
Trade Payables	3.837.000	9.013.000	2.549.000
Bank Liabilities	854.000	2.922.000	2.916.000
Group Payables	1.890.000	1.833.000	793.000
Miscellaneous Liabilities	2.926.000	4.085.000	3.473.000
TOTAL CURRENT LIABILITIES	9.507.000	17.853.000	9.731.000
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	0	0	0
TOTAL LONG TERM LIABILITIES	0	0	0
TOTAL LIABILITIES	9.507.000	17.853.000	9.731.000
Called Up Share Capital	362.000	362.000	362.000
Share Premium	0	0	0
Revenue Reserves	8.490.000	2.828.000	2.623.000
Other Reserves	2.228.000	7.227.000	7.228.000
TOTAL SHAREHOLDERS EQUITY	11.080.000	10.417.000	10.213.000
Other Financials
Contingent Liabilities	1.530.000	1.530.000	600.000
Working Capital	10.944.000	10.111.000	9.601.000
Net Worth	11.080.000	10.417.000	10.213.000
Ratios
Pre-Tax Profit Margin	1.63 %	0.50 %	-10.59 %
Return On Capital Employed	2.20 %	0.44 %	-10.15 %
Return On Total Assets Employed	3.22 %	0.73 %	-15.11 %
Return On Net Assets Employed	5.97 %	1.97 %	-29.50 %
Sales/Net Working Capital	3.72	4.05	2.96
Stock Turnover Ratio	16.93 %	18.09 %	23.06 %
Debtor Days	92.41	138.31	59.73
Creditor Days	34.39	80.33	32.70
Current Ratio	2.15	1.57	1.99
Liquidity Ratio/Acid Test	1.43	1.15	1.31
Current Debt Ratio	0.86	1.71	0.95
Gearing	7.71 %	28.05 %	28.55 %
Equity In Percentage	54.03 %	36.95 %	51.41 %
Total Debt Ratio	0.86	1.71	0.95

Share Capital Structure
Issued Share Capital	361.500 SEK
Shareholders
No shareholders data for this company.
Current Directors
Name		Appointment Date Position
Kurt Peter Thorell		16/06/2010	Actual Member of Board
Sal Michel Gordin		07/05/2013	Managing Director
Mats Adolf Rydh		07/05/2013	Substitute
Previous Directors
Name		Appointment Date	Position Resignation Date
Per Hakan Jeppsson		16/06/2010	Substitute 07/05/2013
Sal Michel Gordin		10/03/2007	Managing Director 10/10/2011
Sven-Ake Birger Bergkvist		17/02/2006	Actual Member of Board 16/06/2010
Helene Miriam Sundvik Gordin		27/11/2007	Substitute 16/06/2010
Negative Information
Debt Balance
Currency		SEK
Number Of Private Claims		0
Balance Of Private Claims		0
Number Of Public Claims		0
Balance Of Public Claims		0
Total Balance		0

Latest Public Claim

No Latest Public Claim for this company.

Latest Private Claim

No Latest Private Claim for this company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.45
UK Pound	1	Rs.98.88
Euro	1	Rs.77.62

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.