MIRA INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIEMENS INDUSTRIAL TURBOMACHINERY AB |
|
|
|
|
Registered Office : |
61283 Finspång |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
22.02.2001 |
|
|
|
|
Com. Reg. No.: |
5566066048 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
|
|
|
|
No. of Employees : |
2739 |
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) |
|
Sweden |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
REGISTERED NAME & COMPANY SUMMARY
Company Summary
|
Business Name |
SIEMENS INDUSTRIAL TURBOMACHINERY AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5566066048 |
|
Main Activity |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
|
Activity Code |
28110 |
|
Company Status |
Active |
|
Latest Turnover Figure |
10.076.050.000 |
|
Latest Shareholder Equity Figure |
3.893.921.000 |
|
Basic
Information |
|
|
Business Name |
Siemens Industrial Turbomachinery AB |
|
Registered Company Name |
Siemens Industrial Turbomachinery AB |
|
Company Registration Number |
5566066048 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556606604801 |
|
Date of Company Registration |
22/02/2001 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
The company shall engage in mechanical engineering
and other industrial motion for the development, manufacture, sale and
maintenance of gas and steam turbines, generators and other products for the
halogenation of electricity and heat, plants for flue gas cleaning |
|
Contact Address |
, 61283 FINSPÅNG |
|
Contact Telephone Number |
0122-81000 |
|
Activities |
|
|
Activity Code |
Activity Description |
|
28110 |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
|
25110 |
Manufacture of metal structures and parts of structures |
|
68202 |
Renting and operating of own or leased industrial premises |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
, 61283 FINSPÅNG |
SWEDEN |
0122-81000 |
|
Other Address |
|
|
Address |
Country |
|
Kardanvägen 4, 46138 |
SWEDEN |
|
Email Addresses |
|
info.sit-ab@ps.siemens.com |
|
Web Pages |
|
www.siemens.se/sit |
DIRECTORS/MANAGEMENT
|
Current
Directors |
|||
|
Name |
Appointment Date |
Position |
|
|
Toupin, Thierry René Noël |
02/04/2014 |
Actual Member of Board |
|
|
Hans Anders Petrus Holmström |
06/03/2012 |
Actual Member of Board |
|
|
Meixner, Willibald |
17/04/2013 |
Actual Member of Board |
|
|
Wunderlich, Ralf Robert |
02/04/2014 |
Actual Member of Board |
|
|
Kent Gustav Gustafsson |
11/05/2006 |
Actual Member of Board |
|
|
Pär Gösta Mikael Wiström |
11/05/2006 |
Actual Member of Board |
|
|
Ulf Gunnar Troedsson |
27/10/2009 |
Actual Member of Board |
|
|
Dick Alexander Kindåker |
12/04/2010 |
Substitute |
|
|
Erik Jonas Eriksson |
11/05/2006 |
Substitute |
|
|
Previous
Directors |
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Schmitt, Peter Erich |
06/03/2012 |
Chairman of Board |
|
|
Tacke, Markus |
12/04/2010 |
Actual Member of Board |
|
|
Natter, Beatrix |
20/07/2010 |
Actual Member of Board |
|
|
Blades, Thomas |
01/04/2009 |
Actual Member of Board |
|
|
Jan-Erik Georg Rydén |
16/07/2007 |
Managing Director |
|
|
Walprecht, Volker |
25/06/2008 |
Actual Member of Board |
|
|
Vinkenflügel, Jürgen |
25/06/2008 |
Actual Member of Board |
|
|
Andreas Graichen |
25/06/2008 |
Substitute |
|
|
Roland Armin Aurich |
02/06/2009 |
Foreign Resident outside the EEA |
|
NEGATIVE
INFORMATION
No negative information given.
SHARE
& SHARE CAPITAL INFORMATION
|
Issued Share Capital |
30.000.000 |
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 |
8 |
|
Number of private claims |
19 |
|
Number of applications for an order to pay |
9 |
|
Number of reclaimed/revoked applications |
45 |
|
Latest Private Claim |
|
|
Date |
22/04/2014 |
|
Amount |
29.320 SEK |
|
Creditor |
SITA Sverige AB |
|
Comments |
Decision |
GROUP
STRUCTURE & AFFILIATED COMPANIES
Extended Group Structure
|
Company Name |
Country |
Number |
Latest Annual Accounts |
|
|
DE |
||
|
|
DE |
HRB 201526 |
30/09/2012 |
|
SE |
5560507773 |
30/09/2013 |
|
|
|
DE |
||
|
SE |
5562564129 |
30/09/2012 |
|
|
NL |
081150060000 |
30/09/2008 |
|
|
SE |
5566066048 |
30/09/2013 |
|
|
NL |
270444200000 |
||
|
SE |
5560032921 |
30/09/2013 |
|
|
IT |
02674810649 |
31/12/2011 |
|
|
|
DK |
||
|
SE |
5567609804 |
31/12/2012 |
|
|
SE |
5565708707 |
30/09/2009 |
FINANCIAL
INFORMATION
|
Profit and Loss |
|||
|
Financial Year |
2013 |
2012 |
2011 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Revenue |
10.935.195.000 |
11.611.425.000 |
10.761.593.000 |
|
Operating Costs |
9.079.005.000 |
10.672.474.000 |
9.540.499.000 |
|
Operating Profit |
1.856.190.000 |
938.951.000 |
1.221.094.000 |
|
Wages & Salaries |
-2.081.856.000 |
-2.101.114.000 |
-2.156.466.000 |
|
Depreciation |
-183.408.000 |
-153.585.000 |
-113.846.000 |
|
Financial Income |
45.614.000 |
92.929.000 |
82.410.000 |
|
Financial Expenses |
-1.635.000 |
-12.003.000 |
-27.626.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
-1.635.000 |
-12.003.000 |
-27.626.000 |
|
Profit before Tax |
1.900.169.000 |
1.019.877.000 |
1.275.877.000 |
|
Tax |
-383.660.000 |
-274.160.000 |
-337.336.000 |
|
Profit after Tax |
1.516.509.000 |
745.717.000 |
938.541.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
-490.000.000 |
- |
- |
|
Retained Profit |
1.026.509.000 |
745.717.000 |
938.541.000 |
|
Balance Sheet |
|||
|
Financial Year |
2013 |
2012 |
2011 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
511.968.000 |
475.041.000 |
271.573.000 |
|
Plant & Machinery |
582.863.000 |
599.354.000 |
396.269.000 |
|
Other Tangible Assets |
315.976.000 |
389.865.000 |
584.100.000 |
|
Total Tangible Assets |
1.410.807.000 |
1.464.260.000 |
1.251.942.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
181.000 |
301.000 |
421.000 |
|
Total Intangible Assets |
181.000 |
301.000 |
421.000 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
33.311.000 |
17.163.000 |
15.916.000 |
|
Total Other Fixed Assets |
33.311.000 |
17.163.000 |
15.916.000 |
|
TOTAL FIXED ASSETS |
1.444.299.000 |
1.481.724.000 |
1.268.279.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
3.320.092.000 |
3.193.457.000 |
2.350.615.000 |
|
Total Inventories |
3.320.092.000 |
3.193.457.000 |
2.350.615.000 |
|
Trade Receivables |
646.227.000 |
710.986.000 |
546.832.000 |
|
Group Receivables |
4.340.817.000 |
5.279.220.000 |
5.238.672.000 |
|
Miscellaneous Receivables |
1.424.118.000 |
1.612.663.000 |
1.387.691.000 |
|
Total Receivables |
6.411.162.000 |
7.602.869.000 |
7.173.195.000 |
|
Cash |
117.000 |
414.000 |
29.675.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
9.731.371.000 |
10.796.740.000 |
9.553.485.000 |
|
TOTAL ASSETS |
11.175.670.000 |
12.278.464.000 |
10.821.764.000 |
|
Trade Payables |
400.439.000 |
823.464.000 |
798.862.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
63.514.000 |
22.429.000 |
15.396.000 |
|
Miscellaneous Liabilities |
5.908.048.000 |
7.442.795.000 |
5.880.495.000 |
|
TOTAL CURRENT LIABILITIES |
6.372.001.000 |
8.288.688.000 |
6.694.753.000 |
|
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 |
909.715.000 |
356.268.000 |
317.382.000 |
|
TOTAL LONG TERM LIABILITIES |
909.748.000 |
356.273.000 |
317.382.000 |
|
TOTAL LIABILITIES |
7.281.749.000 |
8.644.961.000 |
7.012.135.000 |
|
Called Up Share Capital |
30.000.000 |
30.000.000 |
30.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
3.594.821.000 |
3.334.403.000 |
3.510.529.000 |
|
Other Reserves |
269.100.000 |
269.100.000 |
269.100.000 |
|
TOTAL SHAREHOLDERS EQUITY |
3.893.921.000 |
3.633.503.000 |
3.809.629.000 |
|
Other Financials |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
|
Working Capital |
3.359.370.000 |
2.508.052.000 |
2.858.732.000 |
|
Net Worth |
3.893.740.000 |
3.633.202.000 |
3.809.208.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
17.38 % |
8.78 % |
11.86 % |
|
Return On Capital Employed |
10.83 % |
4.96 % |
7.28 % |
|
Return On Total Assets Employed |
17.00 % |
8.31 % |
11.79 % |
|
Return On Net Assets Employed |
48.80 % |
28.07 % |
33.49 % |
|
Sales/Net Working Capital |
3.26 |
4.63 |
3.76 |
|
Stock Turnover Ratio |
30.36 % |
27.50 % |
21.84 % |
|
Debtor Days |
21.57 |
22.35 |
18.55 |
|
Creditor Days |
13.37 |
25.89 |
27.09 |
|
Current Ratio |
1.53 |
1.30 |
1.43 |
|
Liquidity Ratio/Acid Test |
1.01 |
0.92 |
1.08 |
|
Current Debt Ratio |
1.64 |
2.28 |
1.76 |
|
Gearing |
|||
|
Equity In Percentage |
34.95 % |
29.63 % |
35.26 % |
|
Total Debt Ratio |
1.87 |
2.38 |
1.84 |
FOREIGN
EXCHANGE RATES
Na
ADDITIONAL
INFORMATION
|
Employee
Information |
|
|
Year |
Number of Employees |
|
2013 |
2739 |
|
2012 |
2738 |
|
2011 |
2760 |
|
2010 |
2725 |
|
2009 |
2551 |
|
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 |
28110 |
|
Activity Description |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
|
Event History |
|
|
Event Date |
Event Description |
|
03/04/2014 |
Authorised signatories amended or new/amended vacancy text |
|
03/04/2014 |
Company representatives, changed |
|
02/04/2014 |
Group Structure Change |
|
05/03/2014 |
Group Structure Change |
|
04/03/2014 |
Group Structure Change |
|
28/02/2014 |
Annual account, new |
|
25/02/2014 |
Annual report (PDF), new |
|
11/10/2013 |
Company representatives, changed |
|
11/10/2013 |
Authorised signatories amended or new/amended vacancy text |
|
13/06/2013 |
Interim report (PDF), new |
|
10/06/2013 |
Group Structure Change |
|
18/04/2013 |
Company representatives, changed |
|
18/04/2013 |
Authorised signatories amended or new/amended vacancy text |
|
12/03/2013 |
Annual account, new |
|
06/03/2013 |
Annual report (PDF), new |
|
12/06/2012 |
Interim report (PDF), new |
|
15/05/2012 |
Company representatives, changed |
|
15/05/2012 |
Board, changed |
|
15/05/2012 |
Authorised signatories amended or new/amended vacancy text |
|
10/04/2012 |
Annual account, new |
|
04/04/2012 |
Annual report (PDF), new |
|
07/03/2012 |
Authorised signatories amended or new/amended vacancy text |
|
07/03/2012 |
Board, changed |
|
07/03/2012 |
Company representatives, changed |
|
31/01/2012 |
Certificate, registered |
|
03/01/2012 |
Certificate, deregistered |
|
28/12/2011 |
Company representatives, changed |
|
28/12/2011 |
Authorised signatories amended or new/amended vacancy text |
|
28/12/2011 |
Board, changed |
|
06/09/2011 |
Certificate, deregistered |
|
14/06/2011 |
Interim report (PDF), new |
|
20/05/2011 |
Board, changed |
|
20/05/2011 |
Authorised signatories amended or new/amended vacancy text |
|
20/05/2011 |
Company representatives, changed |
|
18/04/2011 |
Limit, increase |
|
18/04/2011 |
Annual account, new |
|
11/04/2011 |
Annual report (PDF), new |
|
29/03/2011 |
Fax number, changed |
|
21/07/2010 |
Board, changed |
|
21/07/2010 |
Authorised signatory, changed |
|
21/07/2010 |
Company representatives, changed |
|
15/06/2010 |
Interim report (PDF), new |
|
16/04/2010 |
Limit, decrease |
|
16/04/2010 |
Annual account, new |
|
13/04/2010 |
Authorised signatory, changed |
|
13/04/2010 |
Company representatives, changed |
|
13/04/2010 |
Board, changed |
|
30/03/2010 |
Annual report (PDF), new |
|
28/10/2009 |
Company representatives, changed |
|
28/10/2009 |
Board, changed |
|
28/10/2009 |
Authorised signatory, changed |
|
17/09/2009 |
Interim report (PDF), new |
|
03/06/2009 |
Authorised signatory, changed |
|
03/06/2009 |
Company representatives, changed |
|
03/06/2009 |
Board, changed |
NOTES
& COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.