|
Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARES OY NIKOTIPS |
|
|
|
|
Formerly Known As : |
ARES OY |
|
|
|
|
Registered Office : |
Läntinen Teollisuuskatu 9, 02920, Espoo |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
24.06.1971 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of plumbing and heating equipment
and supplies |
|
|
|
|
No. of Employees : |
41 |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland has taken action to ensure it will meet EU deficit targets by 2013 and retains its triple-A credit rating. Finland's main challenge in 2013 will be to stimulate growth in the face of weak demand in EU export markets and government austerity measures meant to reduce its budget deficit. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.
|
Source
: CIA |
|
Trading Name |
Ares Oy |
Trade Registry Number |
207238 |
|
|
|
Company Name |
ARES OY NIKOTIPS |
|
|
|
|
|
Previous Name |
Ares Oy |
|
|
|
|
|
Telephone Number |
098545520 |
Registered Address |
|
|
|
|
Fax Number |
0985455240 |
Visiting Address |
Läntinen teollisuuskatu 9, 02920, ESPOO |
|
|
|
Home Municipality |
Espoo |
Postal Address |
-, -, - |
|
|
|
Incorporation Date |
24.06.1971 |
Branches |
9 |
|
|
|
Company Type |
Limited company |
Website Address |
|
|
|
|
Primary Sic Code |
46742 |
Accountant |
KPMG Oy Ab |
||
|
Primary Sic Description |
Wholesale of plumbing and heating equipment
and supplies |
Last Accounts Date |
31.12.2011 |
|
|
|
Share Capital (€) |
84.094 |
Holding Company |
|
|
|
|
Deals in importing |
Yes |
Foreign Ownership |
|
|
|
|
Deals in exporting |
Yes |
Currency |
EUR |
|
|
Current Directors
|
Name |
Rantanen Mirja Alma Anneli |
|
|
|
Date of Birth |
18.07.2045 |
Appointment Date |
26.04.2013 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Kirjavainen Jussi Heikki |
|
|
|
Date of Birth |
- |
Appointment Date |
- |
|
Nationality |
FINLAND |
Function |
Managing director |
|
Name |
Kirjavainen Jussi Heikki |
|
|
|
Date of Birth |
10.07.1957 |
Appointment Date |
26.04.2013 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Rantanen Pentti Kalevi |
|
|
|
Date of Birth |
28.12.2045 |
Appointment Date |
26.04.2013 |
|
Nationality |
FINLAND |
Function |
Chairman of Board |
Other Company
Officials
|
Name |
Rajala Jukka Antero |
|
|
|
Date of Birth |
05.08.1965 |
Appointment Date |
08.06.2009 |
|
Nationality |
FINLAND |
Function |
Principal accountant |
|
Name |
Vanamo Anneli Heleena |
|
|
|
Date of Birth |
24.03.1957 |
Appointment Date |
24.06.2013 |
|
Nationality |
FINLAND |
Function |
Procurist |
No negative information found.
Shareholder
Information
|
Year |
31.12.2012 |
|
|
Total Value of Shares |
84.094 |
|
|
Number of Shares |
5.000 |
|
|
Value of Shares |
16.82 |
|
Na
Group structure
No group structure
Linked Companies
|
No linked companies |
Key Financials (€)
|
Year |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
|
|
Turnover |
11.321.472 |
3% |
11.017.249 |
9% |
10.146.504 |
|
|
|
Operating Profit/Loss |
1.126.668 |
-11% |
1.260.335 |
15% |
1.093.581 |
|
|
|
Profit/Loss after Financial Items |
1.096.380 |
-11% |
1.226.436 |
16% |
1.058.177 |
|
|
|
Profit/Loss after tax |
821.299 |
-8% |
895.249 |
15% |
776.882 |
|
|
|
Current Assets |
4.176.591 |
3% |
4.055.319 |
-2% |
4.157.437 |
|
|
|
Fixed Assets |
328.123 |
-34% |
494.384 |
-22% |
632.668 |
|
|
|
Long Term Debts |
540.000 |
-25% |
720.000 |
-20% |
903.953 |
|
|
|
Current Liabilities |
1.418.520 |
5% |
1.354.809 |
-29% |
1.910.460 |
|
|
|
Shareholders Equity |
2.546.194 |
3% |
2.474.894 |
25% |
1.975.692 |
|
|
|
Balance sheet total |
4.504.714 |
-1% |
4.549.703 |
-5% |
4.790.105 |
|
|
|
Number of employees |
41 |
|
39 |
|
37 |
|
|
|
Auditor qualification |
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
|
|
|
Year |
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
|
Solvency Ratio |
57% |
|
54% |
|
41% |
|
|
|
|
Low Indebtedness |
|
Low Indebtedness |
|
Low Indebtedness |
|
|
|
Net margin (%) |
10% |
|
11% |
|
10% |
|
|
|
Interest Coverage Ratio (times) |
29 |
|
30 |
|
25 |
|
|
|
Gearing (%) |
25% |
|
33% |
|
54% |
|
|
|
Liquidity Ratio/Acid Test |
1 |
|
1 |
|
1 |
|
|
|
Risk Buffer (%) |
23% |
|
26% |
|
21% |
|
|
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 |
11.321.472 |
3% |
11.017.249 |
9% |
10.146.504 |
|
|
|
|
Other Operating Income |
5.137 |
166% |
1.930 |
-84% |
12.211 |
|
|
|
|
Total Operating Income |
11.326.609 |
3% |
11.019.179 |
8% |
10.158.715 |
|
|
|
|
Wages & Salaries |
1.891.077 |
3% |
1.834.759 |
5% |
1.749.527 |
|
|
|
|
Depreciation |
211.484 |
-7% |
227.525 |
-2% |
232.326 |
|
|
|
|
Total Operating Expenses |
10.199.941 |
5% |
9.758.844 |
8% |
9.065.134 |
|
|
|
|
Operating Profit/Loss |
1.126.668 |
-11% |
1.260.335 |
15% |
1.093.581 |
|
|
|
|
Result From Financial Investments |
|||||||
|
|
Financial Income |
9.509 |
15% |
8.294 |
3% |
8.076 |
|
|
|
|
Financial Expenses |
39.797 |
-6% |
42.193 |
-3% |
43.480 |
|
|
|
|
Total Financial Investments |
-30.288 |
- |
-33.899 |
- |
-35.404 |
|
|
|
|
Profit/Loss after Financial Items |
1.096.380 |
-11% |
1.226.436 |
16% |
1.058.177 |
|
|
|
|
Extraordinary Income |
0 |
- |
0 |
- |
0 |
|
|
|
|
Extraordinary Expenses |
0 |
- |
0 |
- |
0 |
|
|
|
|
Profit/Loss Before Tax |
1.096.380 |
-11% |
1.226.435 |
16% |
1.058.177 |
|
|
|
|
Tax |
275.081 |
-17% |
331.186 |
18% |
281.295 |
|
|
|
|
Profit/Loss After Tax |
821.299 |
-8% |
895.249 |
15% |
776.882 |
|
|
Balance Sheet (€)
|
|
Assets |
12.2012 |
% |
12.2011 |
% |
12.2010 |
|
|
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
|
|
|
Fixed Assets |
|||||||
|
|
Intangible Assets |
137.200 |
-45% |
247.542 |
-29% |
349.069 |
|
|
|
|
Tangible Assets |
188.603 |
-23% |
244.522 |
-13% |
281.279 |
|
|
|
|
Other Fixed Assets |
2.320 |
0% |
2.320 |
0% |
2.320 |
|
|
|
|
Total Fixed Assets |
328.123 |
-34% |
494.384 |
-22% |
632.668 |
|
|
|
|
Current Assets |
|||||||
|
|
Inventories |
2.822.238 |
14% |
2.482.309 |
11% |
2.244.248 |
|
|
|
|
Trade Receivables |
982.395 |
-16% |
1.167.250 |
20% |
971.341 |
|
|
|
|
Other Receivables |
43.744 |
-41% |
73.747 |
14% |
64.514 |
|
|
|
|
Cash & Bank Balances |
328.214 |
-1% |
332.013 |
-62% |
877.334 |
|
|
|
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
|
|
|
|
Total Current Assets |
4.176.591 |
3% |
4.055.319 |
-2% |
4.157.437 |
|
|
|
|
Total Assets |
4.504.714 |
-1% |
4.549.703 |
-5% |
4.790.105 |
|
|
Equity and
Liabilities (€)
|
|
EQUITY |
|||||||
|
|
Share Capital |
84.094 |
0% |
84.094 |
0% |
84.094 |
|
|
|
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
|
|
|
|
Retained Earnings |
2.256.070 |
3% |
2.184.770 |
30% |
1.685.568 |
|
|
|
|
Other Reserves |
206.030 |
0% |
206.030 |
0% |
206.030 |
|
|
|
|
Total Equity |
2.546.194 |
3% |
2.474.894 |
25% |
1.975.692 |
|
|
|
|
LONG TERM LIABILITIES |
|||||||
|
|
Long Term Liabilities to Financial
Institutions |
100.000 |
-50% |
200.000 |
-33% |
300.000 |
|
|
|
|
Other Long Term Liabilities Finance |
440.000 |
-15% |
520.000 |
-13% |
600.000 |
|
|
|
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
3.953 |
|
|
|
|
Total Long Term Debts |
540.000 |
-25% |
720.000 |
-20% |
903.953 |
|
|
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade Payables |
319.572 |
-25% |
424.070 |
22% |
346.968 |
|
|
|
|
Liabilities to Financial Institutions |
100.000 |
0% |
100.000 |
-40% |
166.667 |
|
|
|
|
Other Short Term Financial Loans |
80.000 |
0% |
80.000 |
0% |
80.000 |
|
|
|
|
Other Short Term Liabilities |
918.948 |
22% |
750.739 |
-43% |
1.316.825 |
|
|
|
|
Total Current Liabilities |
1.418.520 |
5% |
1.354.809 |
-29% |
1.910.460 |
|
|
|
|
Total Liabilities |
1.958.520 |
-6% |
2.074.809 |
-26% |
2.814.413 |
|
|
|
|
Total Equity & Liabilities |
4.504.714 |
-1% |
4.549.703 |
-5% |
4.790.105 |
|
|
Other Financials
(€)
|
|
Working Capital |
2.758.071 |
2% |
2.700.510 |
20% |
2.246.977 |
|
|
|
|
Net Worth |
2.408.994 |
8% |
2.227.352 |
37% |
1.626.623 |
|
|
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 % |
9,7% |
|
11,1% |
|
10,4% |
|
|
|
|
Operating Profit/Loss % |
10,0% |
|
11,4% |
|
10,8% |
|
|
|
|
Pre-Tax Profit Margin % |
9,7% |
|
11,1% |
|
10,4% |
|
|
|
|
TRADING PERFORMANCE |
|||||||
|
|
Return on Net Assets Employed % |
43,1% |
|
49,6% |
|
53,6% |
|
|
|
|
Return on Total Capital % |
25,2% |
|
27,9% |
|
23,0% |
|
|
|
|
Interest Coverage Ratio (times) |
29 |
|
30 |
|
25 |
|
|
|
|
Return on Capital Employed % |
35,5% |
|
38,4% |
|
36,8% |
|
|
|
|
Return on Total Assets Employed % |
24,3% |
|
27,0% |
|
22,1% |
|
|
|
|
Interest on Debt % |
2,0% |
|
2,0% |
|
1,5% |
|
|
|
|
Risk Buffer % |
23,2% |
|
25,9% |
|
21,5% |
|
|
|
|
SHORT TERM LIQUIDITY |
|||||||
|
|
Liquidity Ratio/Acid Test |
1 |
|
1 |
|
1 |
|
|
|
|
Current Ratio % |
294,0% |
|
299,0% |
|
218,0% |
|
|
|
|
Debtor Days |
32 |
|
39 |
|
35 |
|
|
|
|
Working capital |
2.758.071 |
|
2.700.510 |
|
2.246.977 |
|
|
|
|
LONG TERM LIQUIDITY |
|||||||
|
|
Equity Ratio % |
56,5% |
|
54,4% |
|
41,3% |
|
|
|
|
Gearing % |
25,1% |
|
33,1% |
|
54,2% |
|
|
|
|
Current Debt Ratio |
1 |
|
1 |
|
1 |
|
|
|
|
Total Debt Ratio |
1 |
|
1 |
|
1 |
|
|
|
|
Relative debt % |
17,3% |
|
18,8% |
|
27,7% |
|
|
|
|
BUSINESS MEASURES |
|||||||
|
|
Change in turnover % |
2,8% |
|
8,6% |
|
- |
|
|
|
|
Turnover/employees |
276133 |
|
282494 |
|
274230 |
|
|
|
|
Sales/Net Working Capital |
4 |
|
4 |
|
5 |
|
|
|
|
Stock Turnover Ratio % |
24,9% |
|
22,5% |
|
22,1% |
|
|
|
|
Creditor Days |
10 |
|
14 |
|
12 |
|
|
|
|
Equity in Percentage % |
58,3% |
|
57,6% |
|
44,5% |
|
|
Na
Registrations in
Force
|
|
State |
Registration Date |
|
Tax Administration |
Registered |
15.03.1978 |
|
Trade Register |
Registered |
24.06.1971 |
|
Employer Register |
Registered |
01.06.1973 |
|
Prepayment Register |
Registered |
01.03.1995 |
|
Value Added Tax-Liability |
VAT-liable for business activity |
01.06.1994 |
Business History
|
Date |
Event |
Source Company Name |
|
31.12.1998 |
Merger |
06062835 merged into Ares Oy |
|
26.12.1995 |
Merger |
02282275 merged into Ares Oy |
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.