MIRA INFORM REPORT

Report Date :

26.05.2014

IDENTIFICATION DETAILS

Name :	OSTP SWEDEN AB

Registered Office :	Box 203, 89125 OrnskoldsviK

Country :	Sweden

Financials (as on) :	2012

Date of Incorporation :	24.03.1953

Com. Reg. No.:	5560578592

Legal Form :	Limited Liability Company

Line of Business :	Manufacture of tubes, pipes, hollow profiles and related fittings, of steel

No. of Employees	389

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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

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

Company summary

Business Name	OSTP Sweden AB
Country	SWEDEN
Company Registration Number	5560578592
Main Activity	Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
Activity Code	24200
Company Status	Active
Latest Turnover Figure	969.700.000
Latest Shareholder Equity Figure	260.800.000

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	975.000.000	1.372.700.000	1.235.600.000
Operating Costs	965.500.000	1.567.500.000	1.621.600.000
Operating Profit	9.500.000	-194.800.000	-386.000.000
Wages & Salaries
Depreciation - - -
Financial Income	6.300.000	12.600.000	600.000
Financial Expenses	-14.500.000	-33.200.000	-25.300.000
Extraordinary Income
Extraordinary Costs	-14.500.000	-33.200.000	-25.300.000
Profit before Tax	-43.100.000	-235.300.000	-436.400.000
Tax	-100.000	-5.900.000	-73.900.000
Profit after Tax	-43.200.000	-241.200.000	-510.300.000
Minority Interests - - -
Other Appropriations		59.500.000	34.700.000
Retained Profit	-43.200.000	-181.700.000	-475.600.000

Balance Sheet
Financial Year	2012	2011	2010
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	N	N	N
Land & Buildings	4.500.000	8.800.000	14.700.000
Plant & Machinery	48.200.000	50.300.000	58.100.000
Other Tangible Assets	5.000.000	6.300.000	5.600.000
Total Tangible Assets	57.700.000	65.400.000	78.400.000
Goodwill	0	0	0
Other Intangible Assets	0	0	0
Total Intangible Assets	0	0	0
Loans To Group	0	0	0
Other Loans	0	0	0
Miscellaneous Fixed Assets	339.600.000	384.000.000	363.400.000
Total Other Fixed Assets	339.600.000	384.000.000	363.400.000
TOTAL FIXED ASSETS	397.300.000	449.400.000	441.800.000
Work In Progress	0	0	0
Other Inventories	152.700.000	251.400.000	311.800.000
Total Inventories	152.700.000	251.400.000	311.800.000
Trade Receivables	115.700.000	162.200.000	149.800.000
Group Receivables	143.600.000	231.700.000	501.900.000
Miscellaneous Receivables	10.200.000	18.600.000	17.200.000
Total Receivables	269.500.000	412.500.000	668.900.000
Cash	0	0	0
Other Current Assets	0	0	0
TOTAL CURRENT ASSETS	422.200.000	663.900.000	980.700.000
TOTAL ASSETS	819.500.000	1.113.300.000	1.422.500.000
Trade Payables	27.300.000	36.400.000	28.700.000
Bank Liabilities	0	0	0
Group Payables	421.100.000	601.600.000	384.700.000
Miscellaneous Liabilities	50.500.000	65.500.000	60.400.000
TOTAL CURRENT LIABILITIES	498.900.000	703.500.000	473.800.000
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	59.800.000	105.800.000	126.300.000

TOTAL LONG TERM LIABILITIES	59.800.000	105.800.000	716.400.000
TOTAL LIABILITIES	558.700.000	809.300.000	1.190.200.000
Called Up Share Capital	128.800.000	128.800.000	128.800.000
Share Premium	0	0	0
Revenue Reserves	28.500.000	-181.700.000	-192.600.000
Other Reserves	103.500.000	356.900.000	296.100.000
TOTAL SHAREHOLDERS EQUITY	260.800.000	304.000.000	232.300.000

Other Financials
Contingent Liabilities	900.000	900.000	900.000
Working Capital	-76.700.000	-39.600.000	506.900.000
Net Worth	260.800.000	304.000.000	232.300.000

Ratios
Pre-Tax Profit Margin	-4.42 %	-17.14 %	-35.32 %
Return On Capital Employed	-3.27 %	-12.95 %	-23.01 %
Return On Total Assets Employed	-5.26 %	-21.14 %	-30.68 %
Return On Net Assets Employed	-16.53 %	-77.40 %	-187.86 %
Sales/Net Working Capital	-12.71	-34.66	2.44
Stock Turnover Ratio	15.66 %	18.31 %	25.23 %
Debtor Days	43.31	43.13	44.25
Creditor Days	10.22	9.68	8.48
Current Ratio	0.85	0.94	2.07
Liquidity Ratio/Acid Test	0.54	0.59	1.41
Current Debt Ratio	1.91	2.31	2.04
Gearing			254.02 %
Equity In Percentage	54.34 %	41.68 %	21.93 %
Total Debt Ratio	2.14	2.66	5.12

Main Address
Address	Country	Telephone
Box 203, 89125 ORNSKOLDSVIK	SWEDEN	0226-81000

Other Address
Address	Country
Sodra Industriomradet, 68831	SWEDEN
Brogatan 64, 89234	SWEDEN
Viktoriaesplanaden 10, 89133	SWEDEN

Email Addresses

No information for this company.

Web Pages

www.outokumpu.com

Share Capital Structure

Issued Share Capital 128.755.400

Directors/Managers

Current Directors

Name	Appointment Date	Position
Gatti, Andrea	02/11/2011	Actual Member of Board
Luoto, Kalle-Pekka Juhani	02/11/2011	Actual Member of Board
Johan Tobias Lennart Persson	21/09/2011	Actual Member of Board
Kent Hakan Isaksson	15/03/2013	Actual Member of Board
Sievert Reinert Svensson	02/11/2011	Substitute
Ulf Arne Johansson	04/07/2007	Substitute

Previous Directors
Name	Appointment Date	Position	Resignation Date
Leif Arne Axelsson	06/05/2004	Actual Member of Board
Bo Karl-Gustaf Lindkvist	21/09/2011	Substitute
Bengt Olov Anders Bergstrand	24/02/2010	Actual Member of Board
Louhija, Matti Tapio	21/09/2011	Actual Member of Board
Mats Allan Norden	31/10/2003	Actual Member of Board
Bo Gerhard Annvik	04/07/2007	Actual Member of Board
Per-Anders Sundstrom	06/05/2004	Actual Member of Board
Johan Tobias Lennart Persson	30/06/2006	Substitute
Hansen, Keld Ole	11/08/2008	Actual Member of Board

Group structure

Company Name	Country	Number	Latest Annual Accounts
Outokumpu EMEA Ov	FI	499868	31/12/2011
Outokumpu Stainless AB	SE	5560018748	31/12/2012
Outokumpu Industriunderhall AB	SE	5561830505	31/12/2012
Avesta Klippcenter AB	SE	5565098109	31/12/2012
Avesta Polarit Do Brasil Ind. E Coro Ltda	BR
Avestapolarit Distribution Ltd	GB
AvestaPolarit Fbrsaljning AB	SE	5565054219	31/12/2012
Outokumpu As	NO	934869028	31/12/2012
Outokumpu A/S	DK
Outokumpu Benelux B.V.	NL	331964100000	31/12/2012
Outokumpu PSC Finland Ov	FI	390247	31/12/2011
Outokumpu Gesmbh	AT
Outokumpu Kft	HU
Outokumpu Kk	JP
Outokumpu Ltd	IE
Outokumpu NV	BE	401923656	31/12/2012
Outokumpu Nordic Aktiebolag	SE	5560691924	31/12/2012
Outokumpu Prefab AB	SE	5562328897	31/12/2012
Outokumpu Press Plate AB	SE	5560508839	31/12/2012
Outokumpu Pte Ltd.	SG
Outokumpu Pty Ltd	AU
Outokumpu Pty Ltd	ZA
Outokumpu S.A.	FR
Outokumpu	ES	A28202729	31/12/2012
Outokumpu S.R.O.	CZ
Outokumpu Sp. Z.O.O.	PL
Outokumpu S.P.A.	IT	00718730153	31/12/2012
Outokumpu Stainless Holding GmbH	DE	HRB 4114	31/12/2012
Outokumpu Stainless Holdings Limited	GB	02721293	31/12/2012
Outokumpu Stainless, Inc	US	US11614627
OSTP Sweden AB	SE	5560578592	31/12/2012
OMVAB	SE	5560809625	31/12/2012
Outkumpu Stainless Tubular Products	EE
LD Avesta Polarit Abe Sa De Cv	MX
[U Outokumou Stainless Tubular Products Ltd	CA
Outokumpu Arametal Stainless Pipe Co Ltd	SA
JL OSTP Finland Ov Ab	FI	17313177	31/12/2012
k.ij RFC Rullformningscentrum i Fagersta AB	SE	5567909873	31/12/2011
JL SH-Trade Oy	FI	340516	31/12/2011
Outokumpu Uab	LT
Visent Invest Aktiebolag	SE	5560359076	31/12/2012
Visenta Fbrsakringsaktiebolag	SE	5164018680
Zao Outokumpu	RU

Other information

Employee Information
Year		Number of Employees
2012		389
2011		458
2010		476
2009		510
2008		595

Advisors
Auditor Name		KPMG AB

Additional Information

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		24200
Activity Description		Manufacture of tubes, pipes, hollow profiles and related fittings, of steel

Event History
Event Date		Event Description
05/09/2013		Group Structure Change
22/08/2013		Group Structure Change
09/08/2013		Annual account, new
08/08/2013		Group Structure Change
02/08/2013		Group Structure Change
17/07/2013		Annual report (PDF), new
08/07/2013		Group Structure Change
04/06/2013		Certificate, registered
07/05/2013		Certificate, deregistered
16/03/2013		Company business activity, changed
16/03/2013		Address, changed
16/03/2013		Company representatives, changed
16/03/2013		Company name, changed (old name: Outokumpu Stainless Tubular Products AB)
16/03/2013		Authorised signatories amended or new/amended vacancy text
22/09/2012		Authorised signatories amended or new/amended vacancy text
22/09/2012		Company representatives, changed
10/09/2012		Annual account, new
23/08/2012		Address, changed
21/08/2012		Annual report (PDF), new
10/08/2012		Address, changed
02/03/2012		Address, changed
03/11/2011		Board, changed
03/11/2011		Company representatives, changed
03/11/2011		Company business activity, changed
03/11/2011		Authorised signatories amended or new/amended vacancy text
01/11/2011		Certificate, deregistered
22/09/2011		Board, changed
22/09/2011		Company representatives, changed
22/09/2011		Authorised signatories amended or new/amended vacancy text

31/08/2011	Annual account, new
28/07/2011	Annual report (PDF), new
08/06/2011	Certificate, registered
23/09/2010	Board, changed
23/09/2010	Authorised signatory, changed
23/09/2010	Company representatives, changed
24/08/2010	Annual account, new
05/08/2010	Annual report (PDF), new
25/02/2010	Company representatives, changed
25/02/2010	Authorised signatory, changed
25/02/2010	Board, changed
24/09/2009	Annual account, new
31/08/2009	Annual report (PDF), new

Negative 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 -
Number of applications for an order to pay
Number of reclaimed/revoked applications 1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.58.48
UK Pound	1	Rs.98.67
Euro	1	Rs.79.80

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	PDT

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.

Basic Information
Business Name	OSTP Sweden AB
Registered Company Name	OSTP Sweden AB
Company Registration Number	5560578592
Country	SWEDEN
VAT Registration Number	SE556057859201
Date of Company Registration	24/03/1953
Legal Form	Limited liability company
Company Status	Active
Currency of this Report	SEK
Principal Activity Description	Bolaget har till foremal for sin verksamhet att tillverka och forsalja rostfria svetsade ror
Principal Activity Description	och rordelar samt utova annan darmed forenlig verksamhet.
Contact Address	Box 203, 89125 ORNSKOLDSVIK
Contact Telephone Number	0226-81000

Activities
Activity Code	Activity Description
24200	Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
46900	Non-specialised wholesale trade
28410	Manufacture of metal forming machinery