|
Report Date : |
14.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MERITOR HVS AB |
|
|
|
|
Registered Office : |
Box 90, 71122 Lindesberg, |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
24.06.1998 |
|
|
|
|
Com. Reg. No.: |
5565500237 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of other parts and accessories for motor vehicles |
|
|
|
|
No. of Employees : |
964 [2013] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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 |
Meritor HVS AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5565500237 |
|
Main Activity |
Manufacture of other parts and accessories for motor vehicles |
|
Activity Code |
29320 |
|
Company Status |
Active |
|
Latest Turnover Figure |
4.081.827.000 |
|
Latest Shareholder Equity Figure |
28.033.000 |
|
Basic
Information |
|
|
Business Name |
Meritor HVS AB |
|
Registered Company Name |
Meritor HVS AB |
|
Company Registration Number |
5565500237 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556550023701 |
|
Date of Company Registration |
24/06/1998 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
The Company shall have the object of which is to
manufacture, assemble and sell components and systems for heavy vehicles and
conduct related business. |
|
Contact Address |
Box 90, 71122 LINDESBERG |
|
Contact Telephone Number |
0581-84100 |
|
Current
Directors |
|||
|
Name |
Appointment Date |
Position |
|
|
Villavarayan, Chrishan Anton Sebastian |
24/04/2013 |
Actual Member of Board |
|
|
Mc Gregor, Scott George |
15/05/2012 |
Actual Member of Board |
|
|
Tomas Gunnar Bäckman |
11/02/2012 |
Actual Member of Board |
|
|
Tommy Ingemar Kragh |
30/11/2013 |
Actual Member of Board |
|
|
Previous
Directors |
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Ulf Håkan Mattsson |
19/09/2001 |
Actual Member of Board |
|
|
Gudgel, Stephen A |
11/02/2012 |
Actual Member of Board |
|
|
Molnar, Charles Emeric |
16/04/2010 |
Actual Member of Board |
|
|
Anna Karin Birgitta Ewerlöf |
11/11/2009 |
Actual Member of Board |
|
|
Gudgel, Stephen A |
11/02/2012 |
Actual Member of Board |
|
|
Mortali, Alessandro |
07/11/2008 |
Actual Member of Board |
|
|
Stephan Degner |
10/06/2008 |
Actual Member of Board |
|
|
McElwain, Steven Edward |
02/01/2009 |
Actual Member of Board |
|
No negative information found.
|
Issued Share Capital |
9.427.000 |
|
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 |
1 |
|
Number of reclaimed/revoked applications |
4 |
|
Extended Group
Structure |
|||
|
Company Name |
Country |
Number |
Latest Annual Accounts |
|
0Arvinmeritor Holdings Mexico Inc |
US |
||
|
SE |
5566650148 |
30/09/2013 |
|
|
2Wilmoot Breaden (Holdings) Limited |
GB |
||
|
SE |
5565500237 |
30/09/2013 |
|
|
Profit and Loss |
|||
|
Financial Year |
2013 |
2012 |
2011 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated
Accounts |
N |
N |
N |
|
Revenue |
4.081.827.000 |
4.518.001.000 |
4.138.585.000 |
|
Operating Costs |
4.114.230.000 |
4.616.108.000 |
4.240.985.000 |
|
Operating Profit |
-32.403.000 |
-98.107.000 |
-102.400.000 |
|
Wages & Salaries |
-498.091.000 |
-520.718.000 |
-412.199.000 |
|
Depreciation |
-43.664.000 |
-52.347.000 |
-41.131.000 |
|
Financial Income |
3.301.000 |
71.000 |
302.000 |
|
Financial Expenses |
-28.351.000 |
-6.501.000 |
-5.635.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
-28.351.000 |
-6.501.000 |
-5.635.000 |
|
Profit before Tax |
-57.454.000 |
-104.536.000 |
-107.734.000 |
|
Tax |
- |
- |
- |
|
Profit after Tax |
-57.454.000 |
-104.536.000 |
-107.734.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
- |
- |
- |
|
Retained Profit |
-57.454.000 |
-104.536.000 |
-107.734.000 |
|
Balance Sheet |
|||
|
Financial Year |
2013 |
2012 |
2011 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated
Accounts |
N |
N |
N |
|
Land & Buildings |
24.387.000 |
27.675.000 |
29.109.000 |
|
Plant & Machinery |
231.869.000 |
215.815.000 |
189.641.000 |
|
Other Tangible Assets |
25.452.000 |
65.967.000 |
87.917.000 |
|
Total Tangible Assets |
281.708.000 |
309.457.000 |
306.667.000 |
|
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 |
0 |
0 |
0 |
|
Total Other Fixed Assets |
0 |
0 |
0 |
|
TOTAL FIXED ASSETS |
281.708.000 |
309.457.000 |
306.667.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
211.883.000 |
184.835.000 |
247.356.000 |
|
Total Inventories |
211.883.000 |
184.835.000 |
247.356.000 |
|
Trade Receivables |
306.363.000 |
298.492.000 |
167.570.000 |
|
Group Receivables |
106.314.000 |
75.786.000 |
63.158.000 |
|
Miscellaneous Receivables |
20.602.000 |
25.701.000 |
50.214.000 |
|
Total Receivables |
433.279.000 |
399.979.000 |
280.942.000 |
|
Cash |
9.347.000 |
2.445.000 |
90.285.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
654.510.000 |
587.259.000 |
618.583.000 |
|
TOTAL ASSETS |
936.218.000 |
896.716.000 |
925.250.000 |
|
Trade Payables |
439.477.000 |
403.692.000 |
435.084.000 |
|
Bank Liabilities |
86.136.000 |
107.062.000 |
0 |
|
Group Payables |
126.660.000 |
174.672.000 |
320.101.000 |
|
Miscellaneous Liabilities |
229.215.000 |
203.859.000 |
192.039.000 |
|
TOTAL CURRENT LIABILITIES |
881.488.000 |
889.285.000 |
947.224.000 |
|
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 |
26.697.000 |
26.939.000 |
27.505.000 |
|
TOTAL LONG TERM LIABILITIES |
26.697.000 |
26.939.000 |
27.505.000 |
|
TOTAL LIABILITIES |
908.185.000 |
916.224.000 |
974.730.000 |
|
Called Up Share Capital |
9.240.000 |
9.240.000 |
9.000.000 |
|
Share Premium |
685.893.000 |
581.080.000 |
0 |
|
Revenue Reserves |
-668.927.000 |
-611.468.000 |
-60.120.000 |
|
Other Reserves |
1.827.000 |
1.640.000 |
1.640.000 |
|
TOTAL SHAREHOLDERS EQUITY |
28.033.000 |
-19.508.000 |
-49.480.000 |
|
Other Financials |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
|
Working Capital |
-226.978.000 |
-302.026.000 |
-328.641.000 |
|
Net Worth |
28.033.000 |
-19.508.000 |
-49.480.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
-1.41 % |
-2.31 % |
-2.60 % |
|
Return On Capital Employed |
-3.16 % |
-5.85 % |
-5.75 % |
|
Return On Total Assets Employed |
-6.14 % |
-11.66 % |
-11.64 % |
|
Return On Net Assets Employed |
-204.95 % |
535.86 % |
217.73 % |
|
Sales/Net Working Capital |
-17.98 |
-14.96 |
-12.59 |
|
Stock Turnover Ratio |
5.19 % |
4.09 % |
5.98 % |
|
Debtor Days |
27.40 |
24.11 |
14.78 |
|
Creditor Days |
39.30 |
32.61 |
38.37 |
|
Current Ratio |
0.74 |
0.66 |
0.65 |
|
Liquidity Ratio/Acid Test |
0.50 |
0.45 |
0.39 |
|
Current Debt Ratio |
31.44 |
-45.59 |
-19.14 |
|
Gearing |
307.27 % |
-548.81 % |
|
|
Equity In Percentage |
2.99 % |
-2.18 % |
-5.35 % |
|
Total Debt Ratio |
32.40 |
-46.97 |
-19.70 |
|
Debt balance at
the Swedish Enforcement Agency |
|
|
Number of Private Claims |
1 |
|
Balance of Private Claims |
53.171 |
|
Number of Public Claims |
- |
|
Balance of Public Claims |
- |
|
Total Balance |
53.171 |
N/A
|
Activities |
|
|
Activity Code |
Activity Description |
|
29320 |
Manufacture of other parts and accessories for motor vehicles |
|
28150 |
Manufacture of bearings, gears, gearing and driving elements |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Box 90, 71122 LINDESBERG |
SWEDEN |
0581-84100 |
|
Other Address |
|
|
Address |
Country |
|
No other addresses for this company. |
|
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
www.arvinmeritor.com |
|
Employee
Information |
|
|
Year |
Number of Employees |
|
2013 |
964 |
|
2012 |
980 |
|
2011 |
869 |
|
2010 |
585 |
|
2009 |
655 |
|
Advisors |
|
|
Auditor Name |
Deloitte AB |
|
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 |
29320 |
|
Activity Description |
Manufacture of other parts and accessories for motor vehicles |
|
Industry Average Credit Rating |
77 (1 - 100) |
|
Industry Average Credit Limit |
2.435.000 |
|
Event History |
|
|
Event Date |
Event Description |
|
30/09/2014 |
Certificate, deregistered |
|
30/09/2014 |
Certificate, registered |
|
12/06/2014 |
Group Structure Change |
|
09/06/2014 |
Group Structure Change |
|
30/05/2014 |
Limit, increase |
|
30/05/2014 |
Annual account, new |
|
23/05/2014 |
Annual report (PDF), new |
|
05/12/2013 |
Authorised signatories amended or new/amended vacancy text |
|
05/12/2013 |
Company representatives, changed |
|
29/05/2013 |
Company representatives, changed |
|
27/05/2013 |
Group Structure Change |
|
20/05/2013 |
Annual account, new |
|
14/05/2013 |
Annual report (PDF), new |
|
25/04/2013 |
Authorised signatories amended or new/amended vacancy text |
|
25/04/2013 |
Company representatives, changed |
|
20/03/2013 |
Share capital, new issue |
|
02/10/2012 |
Certificate, registered |
|
07/08/2012 |
Share capital, new issue |
|
03/07/2012 |
Certificate, deregistered |
|
22/06/2012 |
Board, changed |
|
16/05/2012 |
Address, changed |
|
16/05/2012 |
Company representatives, changed |
|
16/05/2012 |
Authorised signatories amended or new/amended vacancy text |
|
16/05/2012 |
Board, changed |
|
08/05/2012 |
Limit, decrease |
|
08/05/2012 |
Annual account, new |
|
02/05/2012 |
Annual report (PDF), new |
|
22/02/2012 |
Board, changed |
|
22/02/2012 |
Company representatives, changed |
|
22/02/2012 |
Authorised signatories amended or new/amended vacancy text |
|
18/02/2012 |
Authorised signatories amended or new/amended vacancy text |
|
14/02/2012 |
Company representatives, changed |
|
14/02/2012 |
Board, changed |
|
14/02/2012 |
Authorised signatories amended or new/amended vacancy text |
|
27/01/2012 |
Share capital, new issue |
|
11/01/2012 |
Authorised signatories amended or new/amended vacancy text |
|
11/01/2012 |
Board, changed |
|
11/01/2012 |
Company representatives, changed |
|
01/06/2011 |
Limit, increase |
|
01/06/2011 |
Annual account, new |
|
30/05/2011 |
Annual report (PDF), new |
|
01/11/2010 |
Certificate, registered |
|
22/04/2010 |
Annual account, new |
|
17/04/2010 |
Company representatives, changed |
|
17/04/2010 |
Authorised signatory, changed |
|
17/04/2010 |
Board, changed |
|
15/04/2010 |
Annual report (PDF), new |
|
12/11/2009 |
Board, changed |
|
12/11/2009 |
Company representatives, changed |
|
12/11/2009 |
Authorised signatory, changed |
|
Latest Private
Claim |
|
|
Date |
03/07/2014 |
|
Amount |
48.125 SEK |
|
Creditor |
Telebolaget MK AB |
|
Comments |
Descision reopen on court: 2014-07-14 |
N/A
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.56 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.76.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.