MIRA INFORM REPORT

 

 

Report Date :

27.12.2014

 

IDENTIFICATION DETAILS

 

Name :

GORDIN PROMOTION AB

 

 

Registered Office :

Box 555,10131 Stockholm

 

 

Country :

Sweden

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

14.07.1987

 

 

Com. Reg. No.:

5562996495

 

 

Legal Form :

Limited liability company

 

 

Line of Business :
  • Advertising agency activities
  • Import, export, sales textile and promotional gifts and activities

 

 

No. of Employees :

15

 

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 name and address

 

Business Name

GORDIN PROMOTION AB

Country

SWEDEN

Company Registration Number

5562996495

Activity Code

73111

Activity Description

Advertising agency activities

Company Status

Active (Active)

 

 

Basic Information

 

Business Name

GORDIN PROMOTION AB

Registered Company Name

GORDIN PROMOTION AB

Company Registration Number

5562996495

Country

SWEDEN

VAT Registration Number

SE556299649501

Date of Company Registration

14/07/1987

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 conduct import, export, SALES textile and promotional gifts and activities compatible therewith.

Contact Address

Box 555,10131 STOCKHOLM

Contact Telephone Number

08-7961660

 

Main Address

 

Address

Country Telephone

Box 555,10131 STOCKHOLM

SWEDEN 08-7961660

 

 

Other Addresses

 

Address

Country

 

No other addresses for this company

 

 

 

 

Activities

 

Activity Code                         Activity Description                                               

73111

Advertising agency activities

 

 

Email Addresses

info@agoreklam.se

 

 

Employee Information

 

Year

Number of Employees

2013

15

2012

15

2011

12

2010

13

2009

12

 

 

Advisors

 

Auditor Name

Ohrlings PricewaterhouseCoopers AB

                                            

 

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

 

 

Event History

                                            

Event Date

Event Description

07/12/2014

Limit, increase

01/04/2014

Limit, increase

01/04/2014

Annual account, new

 

Event Date

Event Description

26/03/2014

Annual report (PDF), new

24/04/2013

Annual report (PDF), new

23/04/2013

Annual report (PDF), new

05/04/2013

Limit, increase

04/04/2013

Annual account, new

28/03/2013

Annual report (PDF), new

29/11/2012

Status, changed

29/11/2012

Authorised signatories amended or new/amended vacancy text

22/09/2012

Status, changed

06/06/2012

Company representatives, changed

06/06/2012

Board, changed

08/05/2012

Annual account, new

08/05/2012

Limit, increase

07/05/2012

Annual report (PDF), new

01/05/2012

Address, changed

28/12/2011

Company representatives, changed

28/12/2011

Authorised signatories amended or new/amended vacancy text

28/12/2011

Board, changed

28/12/2011

Limit, decrease

19/05/2011

Limit, increase

19/05/2011

Annual account, new

16/05/2011

Annual report (PDF), new

26/07/2010

Limit, increase

26/07/2010

Annual account, new

15/07/2010

Annual report (PDF), new

 

Status History 

 

Date

29/08/2012

Event Description

Merger ongoing

 

 

Profit and Loss

 

Financial Year

2013

2012

2011

Number of Weeks

52

52

52

Currency

SEK

SEK

SEK

Consolidated Accounts

No

No

No

Revenue

49.127.000

48.064.000

33.640.000

Operating Costs

47.189.000

45.483.000

31.144.000

Operating Profit

1.938.000

2.581.000

2.496.000

Wages & Salaries

-10.947.000

-9.895.000

-6.845.000

Depreciation

-431.000

-618.000

-269.000

Financial Income

55.000

11.000

8.000

Financial Expenses

-85.000

-108.000

-45.000

Extraordinary Income

0

0

0

Extraordinary Costs

0

0

0

Profit before Tax

1.908.000

2.484.000

2.459.000

Tax

-445.000

-454.000

-443.000

Profit after Tax

1.463.000

2.030.000

2.016.000

Minority Interests

0

0

0

Other Appropriations

0

-871.000

-890.000

Retained Profit

1.463.000

1.158.000

1.127.000

 

 

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

158.000

178.000

5.000

Total Tangible Assets

158.000

178.000

5.000

Goodwill

1.013.000

1.393.000

1.833.000

Other Intangible Assets

0

0

0

Total Intangible Assets

1.013.000

1.393.000

1.833.000

Loans To Group

0

0

0

Other Loans

0

0

0

Miscellaneous Fixed Assets

0

0

350.000

Total Other Fixed Assets

0

0

350.000

TOTAL FIXED ASSETS

1.171.000

1.571.000

2.188.000

Work In Progress

1.434.000

974.000

0

Other Inventories

1.320.000

1.322.000

3.206.000

Total Inventories

2.754.000

2.296.000

3.206.000

Trade Receivables

10.696.000

11.275.000

6.614.000

Group Receivables

0

0

144.000

Miscellaneous Receivables

1.245.000

1.213.000

680.000

Total Receivables

11.941.000

12.488.000

7.438.000

 

Other Current Assets                              0                              0                              0

TOTAL CURRENT ASSETS                     17.056.000                19.095.000                11.031.000

TOTAL ASSETS                                     18.227.000                20.666.000                13.219.000

Trade Payables                                      3.230.000                  3.005.000                  2.524.000

Bank Liabilities                                      0                              0                              167.000

Group Payables                                     0                              2.318.000                  0

Miscellaneous Liabilities                        6.412.000                 7.221.000                  4.372.000

TOTAL CURRENT LIABILITIES               9.642.000                  12.544.000                7.063.000

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                             1.761.000                  1.761.000    890.000

TOTAL LONG TERM LIABILITIES           1.761.000                  1.761.000                  890.000

TOTAL LIABILITIES                               11.403.000                14.305.000                7.952.000

Called Up Share Capital                         100.000                    100.000                    100.000

Share Premium                                      0                              0                              0

Revenue Reserves                                  6.704.000                  6.241.000                  5.147.000

Other Reserves                                       20.000                      20.000                      20.000

TOTAL SHAREHOLDERS EQUITY          6.824.000                  6.361.000                  5.267.000

 

 

Other Financials

 

Contingent Liabilities                              0                                      0                              0

Working Capital                                      7.414.000             6.551.000                  3.968.000

Net Worth                                               5.811.000             4.968.000                  3.434.000

 

Ratios

 

Pre-Tax Profit Margin                             3.88 %                     5.17 %                     7.31 %

Return On Capital Employed                  6.85 %                     7.48 %                     12.12 %

Return On Total Assets Employed          10.47 %                    12.02 %                    18.60 %

Return On Net Assets Employed             27.96 %                    39.05 %                    46.69 %

Sales/Net Working Capital                      6.63                         7.34                         8.48

Stock Turnover Ratio                              5.61 %                     4.78 %                     9.53 %

Debtor Days                                            79.47                        85.62                        71.76

Creditor Days                                         24.00                        22.82                        27.39

Current Ratio                                          1.77                         1.52                         1.56

Liquidity Ratio/Acid Test                        1.48                         1.34                         1.11

Current Debt Ratio                                  1.41                         1.97                         1.34

Gearing                                                  0                              0                              3.17 %

Equity In Percentage                              39.64 %                    33.00 %                    47.73 %

Total Debt Ratio                                      1.67                         2.25                         1.51

 

 

Current Directors

 

Name

Appointment Date

Position

 

Thomas Silbersky

25/07/2007

Actual Member of Board

 

Sven Ulf Richard Kornehed

27/12/2011

Actual Member of Board

 

Camilla Annelie Elsa Silbersky

27/12/2011

Substitute

------

 

 

Previous Directors

 

Name

Appointment Date

Position                           Resignation Date

 

Ragnar Gordin

25/07/2007

Actual Member of Board 27/12/2011

 

Ingrid Ida Lena Gordin

25/07/2007

Substitute 27/12/2011

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.98.98

Euro

1

Rs.77.74

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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