MIRA
INFORM REPORT
|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
OY MARTINEX AB |
|
|
|
|
Formerly Known As : |
OY. BRIO AB. |
|
|
|
|
Registered Office : |
Kuninkaanväylä 37, 20320, Turku Pl 46, 21201, Raisio |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.01.1945 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of toys and games |
|
|
|
|
No. of Employees |
35 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Finland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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, or Sweden. Trade is important, with exports accounting for over one-third of GDP in recent years. Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology for mobile phones as well as promotion of startups in the ICT, gaming, cleantech, and biotechnology sectors. 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 within 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 in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth
|
Source
: CIA |
Company name and addres
|
Trading Name |
Martinex Oy |
|
Company Name |
Oy Martinex Ab |
|
Previous Name |
Oy. Brio Ab. |
|
Telephone Number |
024366800 |
|
Fax Number |
024380895 |
|
Home Municipality |
Raisio |
|
Incorporation Date |
26.01.1945 |
|
Company Type |
Limited company |
|
Primary Sic Code |
46496 |
|
Primary Sic Description |
Wholesale of toys and games |
DIRECTORS/MANAGEMENT
Current Directors
|
Name |
Sandström Riia Marjatta |
|
|
|
Date of Birth |
21.06.1968 |
Appointment Date |
07.09.2001 |
|
Nationality |
FINLAND |
Function |
Managing director |
Name
|
Muinonen Tuula Marjatta |
|
|
|
Date of Birth |
29.10.2046 |
Appointment Date |
02.06.2005 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Muinonen Risto Matti Viktor |
|
|
|
Date of Birth |
23.03.2041 |
Appointment Date |
02.06.2005 |
|
Nationality |
FINLAND |
Function |
Chairman of Board |
|
Name |
Jalava Jenni Marjatta |
|
|
|
Date of Birth |
27.12.1976 |
Appointment Date |
02.06.2005 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
NEGATIVE INFORMATION
No negative information
found.
SHARE & SHARE CAPITAL INFORMATION
|
Share Capital (€) |
168 |
Shareholder Information
|
Year |
31.12.2013 |
|
Total Value of Shares |
168 |
|
Number of Shares |
100 |
|
Value of Shares |
1.68 |
PAYMENT INFORMATION
|
Deals in importing |
Yes |
|
Deals in exporting |
Yes |
GROUP STRUCTURE & AFFILIATED COMPANIES
|
Holding Company |
|
|
Foreign Ownership |
|
Group structure
|
No group structure |
FINANCIAL INFORMATION
Key Financials (€)
|
Year |
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
Turnover |
12.094.690 |
-7% |
13.012.169 |
-3% |
13.373.351 |
12% |
11.927.970 |
|
Operating Profit/Loss |
796.573 |
46% |
546.169 |
-70% |
1.846.517 |
31% |
1.407.380 |
|
Profit/Loss after Financial Items |
800.433 |
45% |
551.506 |
-70% |
1.857.982 |
31% |
1.421.984 |
|
Profit/Loss after tax |
604.000 |
46% |
415.000 |
-70% |
1.377.000 |
31% |
1.052.500 |
|
Current Assets |
7.648.358 |
2% |
7.487.272 |
-4% |
7.809.141 |
19% |
6.548.760 |
|
Fixed Assets |
326.732 |
-11% |
365.727 |
-2% |
371.950 |
-5% |
392.504 |
|
Long Term Debts |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Current Liabilities |
1.065.922 |
-7% |
1.147.831 |
-11% |
1.290.923 |
46% |
883.096 |
|
Shareholders Equity |
6.909.168 |
3% |
6.705.168 |
-3% |
6.890.168 |
14% |
6.058.168 |
|
Balance sheet total |
7.975.090 |
2% |
7.852.999 |
-4% |
8.181.091 |
18% |
6.941.264 |
|
Number of employees |
35 |
|
36 |
|
- |
|
32 |
|
Auditor qualification |
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
Ratios
|
Year |
31.12.2013 |
|
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
Solvency Ratio |
87% |
|
85% |
|
84% |
|
87% |
|
|
Exceptionally Low Indebtedness |
|
Exceptionally Low Indebtedness |
|
Exceptionally Low Indebtedness |
|
Exceptionally Low Indebtedness |
|
Net margin (%) |
7% |
|
4% |
|
14% |
|
12% |
|
Interest Coverage Ratio (times) |
191 |
|
76 |
|
524 |
|
614 |
|
Gearing (%) |
0% |
|
0% |
|
0% |
|
0% |
|
Liquidity Ratio/Acid Test |
3 |
|
3 |
|
3 |
|
4 |
|
Risk Buffer (%) |
10% |
|
6% |
|
22% |
|
20% |
Profit
& Loss (€)
|
|
Operating Income |
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
no |
|
|
Sales Revenue |
12.094.690 |
-7% |
13.012.169 |
-3% |
13.373.351 |
12% |
11.927.970 |
|
|
Other Operating Income |
3.515 |
-90% |
34.779 |
134% |
14.887 |
-18% |
18.058 |
|
|
Total Operating Income |
12.098.205 |
-7% |
13.046.948 |
-3% |
13.388.238 |
12% |
11.946.028 |
|
|
Wages & Salaries |
1.699.008 |
-2% |
1.727.554 |
27% |
1.355.753 |
0% |
1.357.309 |
|
|
Depreciation |
111.054 |
-8% |
120.650 |
-13% |
138.672 |
-45% |
250.591 |
|
|
Total Operating Expenses |
11.301.632 |
-10% |
12.500.779 |
8% |
11.541.721 |
10% |
10.538.648 |
|
|
Operating Profit/Loss |
796.573 |
46% |
546.169 |
-70% |
1.846.517 |
31% |
1.407.380 |
|
|
Result From Financial Investments |
|||||||
|
|
Financial Income |
8.071 |
-37% |
12.717 |
-15% |
15.015 |
-11% |
16.924 |
|
|
Financial Expenses |
4.211 |
-43% |
7.380 |
108% |
3.550 |
53% |
2.320 |
|
|
Total Financial Investments |
3.860 |
-28% |
5.337 |
-53% |
11.465 |
-21% |
14.604 |
|
|
Profit/Loss after Financial Items |
800.433 |
45% |
551.506 |
-70% |
1.857.982 |
31% |
1.421.984 |
|
|
Extraordinary Income |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Extraordinary Expenses |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Profit/Loss Before Tax |
800.433 |
45% |
551.506 |
-70% |
1.857.982 |
31% |
1.421.984 |
|
|
Tax |
196.433 |
44% |
136.506 |
-72% |
480.982 |
30% |
369.484 |
|
|
Profit/Loss After Tax |
604.000 |
46% |
415.000 |
-70% |
1.377.000 |
31% |
1.052.500 |
Balance Sheet (€)
|
|
Assets |
12.2013 |
% |
12.2012 |
% |
12.2011 |
% |
12.2010 |
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
no |
|
|
Fixed Assets |
|||||||
|
|
Intangible Assets |
47.723 |
168% |
17.790 |
-25% |
23.700 |
1593% |
1.400 |
|
|
Tangible Assets |
242.255 |
-22% |
311.637 |
0% |
311.950 |
-12% |
354.804 |
|
|
Other Fixed Assets |
36.754 |
1% |
36.300 |
0% |
36.300 |
0% |
36.300 |
|
|
Total Fixed Assets |
326.732 |
-11% |
365.727 |
-2% |
371.950 |
-5% |
392.504 |
|
|
Current Assets |
|||||||
|
|
Inventories |
4.279.807 |
-4% |
4.441.801 |
16% |
3.831.622 |
17% |
3.279.944 |
|
|
Trade Receivables |
1.103.093 |
-1% |
1.117.659 |
-24% |
1.461.595 |
16% |
1.258.152 |
|
|
Other Receivables |
118.420 |
-53% |
252.037 |
336% |
57.760 |
78% |
32.423 |
|
|
Cash & Bank Balances |
2.147.038 |
28% |
1.675.775 |
-32% |
2.458.164 |
24% |
1.978.241 |
|
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
7.648.358 |
2% |
7.487.272 |
-4% |
7.809.141 |
19% |
6.548.760 |
|
|
Total Assets |
7.975.090 |
2% |
7.852.999 |
-4% |
8.181.091 |
18% |
6.941.264 |
Equity
and Liabilities (€)
|
|
EQUITY |
|||||||
|
|
Share Capital |
168 |
0% |
168 |
0% |
168 |
0% |
168 |
|
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Retained Earnings |
6.909.000 |
3% |
6.705.000 |
-3% |
6.890.000 |
14% |
6.058.000 |
|
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Equity |
6.909.168 |
3% |
6.705.168 |
-3% |
6.890.168 |
14% |
6.058.168 |
|
|
LONG TERM LIABILITIES |
|||||||
|
|
Long Term Liabilities to Financial
Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Liabilities Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term Debts |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade Payables |
318.202 |
-27% |
436.623 |
-26% |
592.718 |
241% |
173.694 |
|
|
Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Financial Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Liabilities |
747.720 |
5% |
711.208 |
2% |
698.205 |
-2% |
709.402 |
|
|
Total Current Liabilities |
1.065.922 |
-7% |
1.147.831 |
-11% |
1.290.923 |
46% |
883.096 |
|
|
Total Liabilities |
1.065.922 |
-7% |
1.147.831 |
-11% |
1.290.923 |
46% |
883.096 |
|
|
Total Equity & Liabilities |
7.975.090 |
2% |
7.852.999 |
-4% |
8.181.091 |
18% |
6.941.264 |
Other
Financials (€)
|
|
Working Capital |
6.582.436 |
4% |
6.339.441 |
-3% |
6.518.218 |
15% |
5.665.664 |
|
|
Net Worth |
6.861.445 |
3% |
6.687.378 |
-3% |
6.866.468 |
13% |
6.056.768 |
Key
Ratios
|
|
|
31.12.2013 |
|
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
no |
|
|
PROFITABILITY |
|||||||
|
|
Net Margin % |
6,6% |
|
4,2% |
|
13,9% |
|
11,9% |
|
|
Operating Profit/Loss % |
6,6% |
|
4,2% |
|
13,8% |
|
11,8% |
|
|
Pre-Tax Profit Margin % |
6,6% |
|
4,2% |
|
13,9% |
|
11,9% |
|
|
TRADING PERFORMANCE |
|||||||
|
|
Return on Net Assets Employed % |
11,6% |
|
8,2% |
|
27,0% |
|
23,5% |
|
|
Return on Total Capital % |
10,1% |
|
7,1% |
|
22,8% |
|
20,5% |
|
|
Interest Coverage Ratio (times) |
191 |
|
76 |
|
524 |
|
614 |
|
|
Return on Capital Employed % |
11,6% |
|
8,2% |
|
27,0% |
|
23,5% |
|
|
Return on Total Assets Employed % |
10,0% |
|
7,0% |
|
22,7% |
|
20,5% |
|
|
Interest on Debt % |
0,4% |
|
0,6% |
|
0,3% |
|
0,3% |
|
|
Risk Buffer % |
9,7% |
|
6,5% |
|
22,5% |
|
20,3% |
|
|
SHORT TERM LIQUIDITY |
|||||||
|
|
Liquidity Ratio/Acid Test |
3 |
|
3 |
|
3 |
|
4 |
|
|
Current Ratio % |
718,0% |
|
652,0% |
|
605,0% |
|
742,0% |
|
|
Debtor Days |
33 |
|
31 |
|
40 |
|
39 |
|
|
Working capital |
6.582.436 |
|
6.339.441 |
|
6.518.218 |
|
5.665.664 |
|
|
LONG TERM LIQUIDITY |
|||||||
|
|
Equity Ratio % |
86,6% |
|
85,4% |
|
84,2% |
|
87,3% |
|
|
Gearing % |
0,0% |
|
0,0% |
|
0,0% |
|
0,0% |
|
|
Current Debt Ratio |
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Debt Ratio |
0 |
|
0 |
|
0 |
|
0 |
|
|
Relative debt % |
8,8% |
|
8,8% |
|
9,7% |
|
7,4% |
|
|
BUSINESS MEASURES |
|||||||
|
|
Change in turnover % |
-7,1% |
|
-2,7% |
|
12,1% |
|
- |
|
|
Turnover/employees |
345563 |
|
361449 |
|
- |
|
372749 |
|
|
Sales/Net Working Capital |
2 |
|
2 |
|
2 |
|
2 |
|
|
Stock Turnover Ratio % |
35,4% |
|
34,1% |
|
28,7% |
|
27,5% |
|
|
Creditor Days |
10 |
|
12 |
|
16 |
|
5 |
|
|
Equity in Percentage % |
87,6% |
|
86,0% |
|
84,8% |
|
87,8% |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
Trade Registry Number |
97755 |
|
Business ID |
05579832 |
|
Registered Address |
|
|
Visiting Address |
Kuninkaanväylä 37, 20320, TURKU |
|
Postal Address |
PL 46, 21201, RAISIO |
|
Branches |
1 |
|
Website Address |
|
|
Accountant |
Grönlund Erika Ida Maria |
|
Last Accounts Date |
31.12.2012 |
Registrations
in Force
|
|
State |
Registration Date |
|
Tax Administration |
Registered |
21.05.1984 |
|
Trade Register |
Registered |
26.01.1945 |
|
Employer Register |
Registered |
01.04.1986 |
|
Prepayment Register |
Registered |
01.03.1995 |
|
Value Added Tax-Liability |
VAT-liable for business activity |
01.06.1994 |
NOTES & COMMENTS
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
|
1 |
Rs.102.33 |
|
Euro |
1 |
Rs.82.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.