MIRA
INFORM REPORT
|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
VALMET AKTIEBOLAG |
|
|
|
|
Registered Office : |
85194 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
02.05.1919 |
|
|
|
|
Com. Reg. No.: |
5560173386 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of machinery for paper and paperboard
production |
|
|
|
|
No. of Employees |
658 (2012) |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 the strong rebound in 2010, which continued in 2011, but growth slipped to 1.2% in 2012. The government proposed stimulus measures in 2012 to curb the effects of a global economic slowdown and boost employment and growth.
Source : CIA
REGISTERED NAME & COMPANY SUMMARY
|
Business Name |
Valmet Aktiebolag |
|
Country |
SWEDEN |
|
Company Registration Number |
5560173386 |
|
Main Activity |
Manufacture of machinery for paper and paperboard production |
|
Activity Code |
28950 |
|
Company Status |
Active |
|
Latest Turnover Figure |
2.876.921.000 |
|
Latest Shareholder Equity Figure |
471.734.000 |
DIRECTORS/MANAGEMENT
|
Current Directors |
|||
|
Name |
Appointment Date |
Position |
|
|
Saarinen, Kari Juhani |
31/10/2011 |
Actual Member of Board |
|
|
Jörgen Michael Nilsson |
21/11/2013 |
Actual Member of Board |
|
|
Claes Mikael Andersson |
04/01/2013 |
Actual Member of Board |
|
|
Hans Roger Olov Svenneryd |
21/11/2013 |
Actual Member of Board |
|
|
Lars Olov Dahlqvist |
29/03/2007 |
Actual Member of Board |
|
|
Per Anders Björn |
04/01/2013 |
Actual Member of Board |
|
|
Sven Fredrik Tomas Pontén |
21/11/2013 |
Actual Member of Board |
|
|
Ulf Mikael Nyman |
04/01/2013 |
Actual Member of Board |
|
|
Bo Anders Michael Östlund |
04/01/2013 |
Substitute |
|
|
Erik Valter Kornfeld |
03/01/2011 |
Substitute |
|
|
Jan Åke Gustavsson |
04/01/2013 |
Substitute |
|
|
Karl Peter Melander |
02/06/2010 |
Substitute |
|
|
Mats Robert Johansson |
04/01/2013 |
Substitute |
|
|
Previous Directors |
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Rolf Robert Lindelöf |
03/01/2011 |
Actual Member of Board |
|
|
Bo Anders Sandström |
11/05/2010 |
Actual Member of Board |
|
|
Mats Robert Johansson |
27/06/2008 |
Actual Member of Board |
|
|
Claes Mikael Andersson |
03/01/2011 |
Substitute |
|
|
Lars Olov Dahlqvist |
26/07/2007 |
Managing Director |
|
|
Per Åke Färnstrand |
29/03/2007 |
Actual Member of Board |
|
|
Nikunen, Harri Lassi Juhani |
03/01/2011 |
Actual Member of Board |
|
|
Pär Erik Anders Larsson |
03/01/2011 |
Substitute |
|
|
Erik Valter Kornfeld |
26/07/2007 |
Actual Member of Board |
|
|
Jan Inge Nordin |
21/07/1999 |
Actual Member of Board |
|
|
Nils Stefan Blom |
30/06/2009 |
Substitute |
|
|
Ulf Henrik Hellberg |
11/05/2010 |
Substitute |
|
|
Elvy Marie Berg |
21/07/2000 |
Actual Member of Board |
|
|
Karl Peter Melander |
11/05/2010 |
Actual Member of Board |
|
|
Ewa Helena Östlund |
27/06/2008 |
Substitute |
|
|
Lars Robert Eklund |
27/08/2004 |
Substitute |
|
|
Per Johan David Stenmark |
08/08/2005 |
Substitute |
|
NEGATIVE INFORMATION
No negative information
found.
SHARE & SHARE CAPITAL INFORMATION
|
Issued Share Capital |
80.000.100 |
PAYMENT INFORMATION
|
Debt balance at the Swedish Enforcement Agency |
|
|
Number of Private Claims |
- |
|
Balance of Private Claims |
- |
|
Number of Public Claims |
- |
|
Balance of Public Claims |
- |
|
Total Balance |
- |
|
Record of non-payment |
|
|
Number of distraint attempts and repossessions |
- |
|
Number of public claims |
- |
|
Number of private claims |
1 |
|
Number of applications for an order to pay |
2 |
|
Number of reclaimed/revoked applications |
10 |
|
Latest Private Claim |
|
|
Date |
03/07/2013 |
|
Amount |
11.269 SEK |
|
Creditor |
TOOLS Sverige AB |
|
Comments |
Decision |
GROUP STRUCTURE & AFFILIATED COMPANIES
Extended Group Structure
|
Company Name |
Country |
Number |
Latest Annual Accounts |
|
|
FI |
|
|
|
|
FI |
|
|
|
SE |
5561287086 |
31/12/2012 |
|
|
FI |
712002 |
31/12/2012 |
|
|
SE |
5562165653 |
31/12/2012 |
|
|
FI |
06173754 |
|
|
|
SE |
5563395382 |
31/12/2012 |
|
|
SE |
5560173386 |
31/12/2012 |
|
|
SE |
5560412586 |
31/12/2012 |
|
|
SE |
5563136067 |
31/12/2012 |
|
|
|
CZ |
|
|
|
|
JP |
|
|
|
ES |
A28318384 |
|
|
|
|
CL |
|
|
|
|
BR |
|
|
|
FI |
18131789 |
31/12/2012 |
|
|
SE |
5560409830 |
31/12/2012 |
|
|
SE |
5566150479 |
31/12/2012 |
|
|
|
PH |
|
|
FINANCIAL INFORMATION
|
Profit and Loss |
|||
|
Financial Year |
2012 |
2011 |
2010 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Revenue |
2.904.357.000 |
3.600.437.000 |
1.644.708.000 |
|
Operating Costs |
2.715.486.000 |
3.434.731.000 |
1.615.967.000 |
|
Operating Profit |
188.871.000 |
165.706.000 |
28.741.000 |
|
Wages & Salaries |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Financial Income |
15.463.000 |
17.514.000 |
1.184.000 |
|
Financial Expenses |
-15.913.000 |
-17.597.000 |
-23.743.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
-15.913.000 |
-17.597.000 |
-23.743.000 |
|
Profit before Tax |
233.906.000 |
218.723.000 |
41.020.000 |
|
Tax |
-10.246.000 |
-44.273.000 |
-4.682.000 |
|
Profit after Tax |
223.660.000 |
174.450.000 |
36.338.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
-186.788.000 |
-410.000 |
1.268.000 |
|
Retained Profit |
36.872.000 |
174.040.000 |
37.606.000 |
|
Balance Sheet |
|||
|
Financial Year |
2012 |
2011 |
2010 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
79.711.000 |
86.157.000 |
86.007.000 |
|
Plant & Machinery |
96.790.000 |
102.988.000 |
90.023.000 |
|
Other Tangible Assets |
39.589.000 |
39.153.000 |
23.091.000 |
|
Total Tangible Assets |
216.090.000 |
228.298.000 |
199.121.000 |
|
Goodwill |
1.350.000 |
2.520.000 |
3.691.000 |
|
Other Intangible Assets |
93.000 |
119.000 |
145.000 |
|
Total Intangible Assets |
1.443.000 |
2.639.000 |
3.836.000 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
235.155.000 |
145.832.000 |
1.668.702.000 |
|
Total Other Fixed Assets |
235.155.000 |
145.832.000 |
1.668.702.000 |
|
TOTAL FIXED ASSETS |
452.688.000 |
376.769.000 |
1.871.659.000 |
|
Work In Progress |
659.353.000 |
537.969.000 |
0 |
|
Other Inventories |
186.023.000 |
195.058.000 |
591.605.000 |
|
Total Inventories |
845.376.000 |
733.027.000 |
591.605.000 |
|
Trade Receivables |
302.312.000 |
517.083.000 |
227.295.000 |
|
Group Receivables |
1.029.612.000 |
1.237.763.000 |
441.752.000 |
|
Miscellaneous Receivables |
246.402.000 |
329.721.000 |
67.795.000 |
|
Total Receivables |
1.578.326.000 |
2.084.567.000 |
736.842.000 |
|
Cash |
631.000 |
1.298.000 |
1.230.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
2.424.333.000 |
2.818.892.000 |
1.329.677.000 |
|
TOTAL ASSETS |
2.877.021.000 |
3.195.661.000 |
3.201.336.000 |
|
Trade Payables |
100.057.000 |
158.471.000 |
137.778.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
333.898.000 |
237.814.000 |
1.158.879.000 |
|
Miscellaneous Liabilities |
1.391.444.000 |
1.616.209.000 |
1.036.203.000 |
|
TOTAL CURRENT LIABILITIES |
1.825.399.000 |
2.012.494.000 |
2.332.860.000 |
|
Bank Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
579.888.000 |
610.805.000 |
525.932.000 |
|
TOTAL LONG TERM LIABILITIES |
579.888.000 |
610.805.000 |
525.932.000 |
|
TOTAL LIABILITIES |
2.405.287.000 |
2.623.299.000 |
2.858.792.000 |
|
Called Up Share Capital |
80.000.000 |
80.000.000 |
80.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
269.234.000 |
398.250.000 |
54.555.000 |
|
Other Reserves |
122.500.000 |
94.112.000 |
207.989.000 |
|
TOTAL SHAREHOLDERS EQUITY |
471.734.000 |
572.362.000 |
342.544.000 |
|
Other Financials |
|||
|
Contingent Liabilities |
14.644.000 |
17.344.000 |
8.954.000 |
|
Working Capital |
598.934.000 |
806.398.000 |
-1.003.183.000 |
|
Net Worth |
470.291.000 |
569.723.000 |
338.708.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
8.05 % |
6.07 % |
2.49 % |
|
Return On Capital Employed |
4.97 % |
4.20 % |
0.74 % |
|
Return On Total Assets Employed |
8.13 % |
6.84 % |
1.28 % |
|
Return On Net Assets Employed |
49.58 % |
38.21 % |
11.98 % |
|
Sales/Net Working Capital |
4.85 |
4.46 |
-1.64 |
|
Stock Turnover Ratio |
29.11 % |
20.36 % |
35.97 % |
|
Debtor Days |
37.99 |
52.42 |
50.44 |
|
Creditor Days |
12.57 |
16.07 |
30.58 |
|
Current Ratio |
1.33 |
1.40 |
0.57 |
|
Liquidity Ratio/Acid Test |
0.86 |
1.04 |
0.32 |
|
Current Debt Ratio |
3.87 |
3.52 |
6.81 |
|
Gearing |
|
|
|
|
Equity In Percentage |
17.87 % |
18.78 % |
22.41 % |
|
Total Debt Ratio |
5.10 |
4.58 |
8.35 |
ADDITIONAL INFORMATION
|
Basic Information |
|
|
Business Name |
Valmet Aktiebolag |
|
Registered Company Name |
Valmet Aktiebolag |
|
Company Registration Number |
5560173386 |
|
Country |
SWEDEN |
|
VAT
Registration Number |
SE556017338601 |
|
Date of Company Registration |
02/05/1919 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
Bolaget
ska bedriva utveckling, tillverkning och marknadsföring av processer,
utrustning och maskiner för framställning av kemisk- och mekanisk pappersmassa
samt fiberboard, bedriva mekanisk verkstadsrörelse med serviceverksamhet
jämte annan (The
Company will conduct development, manufacturing and marketing processes,
equipment and machinery for the manufacture of chemical and mechanical pulp
and fiberboard, conducting mechanical workshop business with service, and
such other) |
|
Contact Address |
, 85194 SUNDSVALL |
|
Contact Telephone Number |
060-165000 |
|
Activities |
|
|
Activity Code |
Activity Description |
|
28950 |
Manufacture of machinery for paper and paperboard production |
|
24510 |
Casting of iron |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
, 85194 SUNDSVALL |
SWEDEN |
060-165000 |
|
Other Address |
|
|
Address |
Country |
|
Knud Dahls Väg 1, 65230 |
SWEDEN |
|
Kolargatan 2, 78468 |
SWEDEN |
|
Axel Johnsons Väg 6, 65221 |
SWEDEN |
|
Gjuterigatan 36, 65221 |
SWEDEN |
|
Vretenvägen 6A, 17154 |
SWEDEN |
|
Hagfors Järnverk, 68333 |
SWEDEN |
|
Email Addresses |
|
Web Pages |
|
Employee Information |
|
|
Year |
Number of Employees |
|
2012 |
658 |
|
2011 |
698 |
|
2010 |
552 |
|
2009 |
669 |
|
2008 |
779 |
|
Advisors |
|
|
Auditor Name |
Ernst & Young Aktiebolag |
|
Tax Registrations |
|
|
Registered for Tax |
Yes |
|
Registered for VAT |
Yes |
|
Registered for Employee Tax |
Yes |
|
Certificates |
||
|
Type |
Category |
Issuer |
|
No certificate information for this company. |
|
|
|
Event History |
|
|
Event Date |
Event Description |
|
08/01/2014 |
Certificate, deregistered |
|
07/01/2014 |
Group Structure Change |
|
03/01/2014 |
Company name, changed (old name: Metso Paper Sweden Aktiebolag) |
|
22/11/2013 |
Authorised signatories amended or new/amended vacancy text |
|
22/11/2013 |
Company representatives, changed |
|
04/11/2013 |
Group Structure Change |
|
01/11/2013 |
Group annual accout, new |
|
01/11/2013 |
Annual account, new |
|
28/10/2013 |
Annual report (PDF), new |
|
18/09/2013 |
Group Structure Change |
|
21/08/2013 |
Group Structure Change |
|
16/08/2013 |
Group Structure Change |
|
07/08/2013 |
Group Structure Change |
|
17/07/2013 |
Group Structure Change |
|
13/06/2013 |
Annual report (PDF), new |
|
13/06/2013 |
Group Structure Change |
|
12/06/2013 |
Group Structure Change |
|
10/06/2013 |
Annual account, new |
|
10/06/2013 |
Group annual account, new |
|
11/01/2013 |
Company representatives, changed |
|
11/01/2013 |
Authorised signatories amended or new/amended vacancy text |
|
05/01/2013 |
Authorised signatories amended or new/amended vacancy text |
|
05/01/2013 |
Company representatives, changed |
|
03/01/2013 |
Authorised signatories amended or new/amended vacancy text |
|
03/01/2013 |
Status, changed |
|
01/10/2012 |
Status, changed |
|
21/06/2012 |
Board, changed |
|
21/06/2012 |
Company representatives, changed |
|
10/05/2012 |
Annual account, new |
|
10/05/2012 |
Group annual account, new |
|
07/05/2012 |
Annual report (PDF), new |
|
01/11/2011 |
Board, changed |
|
01/11/2011 |
Authorised signatories amended or new/amended vacancy text |
|
01/11/2011 |
Limit, increase |
|
01/11/2011 |
Company representatives, changed |
|
06/09/2011 |
Certificate, registered |
|
16/08/2011 |
Authorised signatories amended or new/amended vacancy text |
|
16/08/2011 |
Company representatives, changed |
|
16/08/2011 |
Board, changed |
|
21/06/2011 |
Authorised signatories amended or new/amended vacancy text |
|
21/06/2011 |
Company representatives, changed |
|
21/06/2011 |
Board, changed |
|
19/05/2011 |
Board, changed |
|
19/05/2011 |
Authorised signatories amended or new/amended vacancy text |
|
19/05/2011 |
Company representatives, changed |
|
12/05/2011 |
Group annual account, new |
|
12/05/2011 |
Annual account, new |
|
09/05/2011 |
Annual report (PDF), new |
|
29/03/2011 |
Fax number, new |
|
11/03/2011 |
Company representatives, changed |
|
11/03/2011 |
Board, changed |
|
11/03/2011 |
Limit, decrease |
|
11/03/2011 |
Authorised signatories amended or new/amended vacancy text |
|
10/03/2011 |
Authorised signatories amended or new/amended vacancy text |
|
10/03/2011 |
Company representatives, changed |
|
10/03/2011 |
Board, changed |
|
04/01/2011 |
Company representatives, changed |
|
04/01/2011 |
Authorised signatories amended or new/amended vacancy text |
|
04/01/2011 |
Company name, changed (old name: Metso Paper Sweden Aktiebolag) |
|
04/01/2011 |
Merge information, changed |
|
04/01/2011 |
Status, changed |
|
04/01/2011 |
Board, changed |
|
04/01/2011 |
Company business activity, changed |
|
13/10/2010 |
Status, changed |
|
13/10/2010 |
Merge information, changed |
|
03/06/2010 |
Authorised signatory, changed |
|
03/06/2010 |
Board, changed |
|
03/06/2010 |
Company representatives, changed |
|
20/05/2010 |
Annual account, new |
|
12/05/2010 |
Annual report (PDF), new |
|
12/05/2010 |
Company representatives, changed |
|
12/05/2010 |
Authorised signatory, changed |
|
12/05/2010 |
Board, changed |
|
02/10/2009 |
Board, changed |
|
02/10/2009 |
Company representatives, changed |
|
21/07/2009 |
Annual account, new |
|
01/07/2009 |
Authorised signatory, changed |
|
01/07/2009 |
Board, changed |
|
01/07/2009 |
Company representatives, changed |
|
24/06/2009 |
Annual report (PDF), new |
|
17/03/2009 |
Merge information, changed |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
|
UK Pound |
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
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.