MIRA
INFORM REPORT
|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
STORA ENSO KVARNSVEDEN AB |
|
|
|
|
Registered Office : |
C/O Stora Enso Kvarnsveden AB78183 BORLÄNGE |
|
|
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Country : |
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|
|
|
Financials (as on) : |
2013 |
|
|
|
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Date of Incorporation : |
09.03.1923 |
|
|
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Com. Reg. No.: |
5560216722 |
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|
Legal Form : |
Limited liability company |
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|
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|
Line of Business : |
The company will manufacture and sell wood-containing printing and to
conduct other related business. |
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|
|
|
No. of Employees : |
Not Available |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Sweden |
A1 |
A1 |
|
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 |
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
|
Business Name |
Stora Enso Kvarnsveden AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5560216722 |
|
Company Status |
Active |
|
Latest Turnover Figure |
3.580.500.000 |
|
Latest Shareholder Equity Figure |
181.800.000 |
DIRECTORS/MANAGEMENT
|
Current Directors |
|||
|
Name |
Appointment Date |
Position |
|
|
Alm, Jarmo Pertti |
24/11/2009 |
Actual Member of Board |
|
|
Mikko Henrik Jokio |
01/04/2011 |
Actual Member of Board |
|
|
Pitkänen, Pertti Ilkka Tapani |
12/02/2008 |
Actual Member of Board |
|
|
Previous Directors |
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Sune Anders Vikström |
28/12/2006 |
Actual Member of Board |
|
|
Erik Sonny Wärn |
01/11/2003 |
Actual Member of Board |
|
|
Sven-Erik Danielsson |
01/11/2003 |
Substitute |
|
|
Jan Anders Pettersson |
22/01/1996 |
Substitute |
|
|
Tarvonen, Heikki Ilmari |
12/02/2008 |
Actual Member of Board |
|
|
Alalauri, Hannu Eerik |
12/02/2008 |
Actual Member of Board |
|
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 |
1 |
|
Number of reclaimed/revoked applications |
11 |
SHARE & SHARE CAPITAL
INFORMATION
|
Issued Share Capital |
150.000.000 |
PAYMENT INFORMATION
N/a
GROUP STRUCTURE & AFFILIATED
COMPANIES
|
Extended Group Structure |
||||
|
Company Name |
Country |
Number |
|
Latest Annual Accounts |
|
FI |
10390508 |
|
31/12/2012 |
|
|
SE |
5561733360 |
|
31/12/2013 |
|
|
SE |
5560129479 |
|
31/12/2013 |
|
|
SE |
5567383558 |
|
31/12/2013 |
|
|
SE |
5560274903 |
|
31/12/2013 |
|
|
SE |
5568009228 |
|
31/12/2013 |
|
|
SE |
5565783023 |
|
31/12/2013 |
|
|
SE |
5562982552 |
|
31/12/2013 |
|
|
SE |
5560095589 |
|
31/12/2013 |
|
|
NO |
938124337 |
|
31/12/2013 |
|
|
SE |
5562002203 |
|
31/12/2013 |
|
|
SE |
5561710814 |
|
31/12/2013 |
|
|
|
CH |
|
|
|
|
SE |
5560398694 |
|
31/12/2013 |
|
|
|
CZ |
|
|
|
|
SE |
5560128661 |
|
31/12/2013 |
|
|
SE |
5561277954 |
|
31/12/2013 |
|
|
|
DK |
|
|
|
|
SE |
5562982545 |
|
31/12/2013 |
|
|
|
DK |
|
|
|
|
SE |
5164018045 |
|
|
|
|
SE |
5560004425 |
|
31/12/2013 |
|
|
SE |
5560704446 |
|
31/12/2013 |
|
|
SE |
5560238908 |
|
31/12/2013 |
|
|
NL |
330569230000 |
|
31/12/2012 |
|
|
SE |
5560293408 |
|
31/12/2013 |
|
|
SE |
5560774019 |
|
31/12/2012 |
|
|
SE |
5567759070 |
|
31/12/2013 |
|
|
SE |
5566094669 |
|
31/12/2012 |
|
|
SE |
5569001638 |
|
31/12/2013 |
|
|
SE |
5560216722 |
|
31/12/2013 |
|
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 |
3.591.100.000 |
4.575.300.000 |
4.996.700.000 |
|
Operating Costs |
6.066.000.000 |
4.839.300.000 |
4.609.500.000 |
|
Operating Profit |
-2.474.900.000 |
-264.000.000 |
387.200.000 |
|
Wages & Salaries |
-433.800.000 |
-479.300.000 |
-472.500.000 |
|
Depreciation |
-2.442.700.000 |
-671.800.000 |
-404.600.000 |
|
Financial Income |
5.400.000 |
- |
10.300.000 |
|
Financial Expenses |
-27.000.000 |
-41.700.000 |
-36.300.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
-27.000.000 |
-41.700.000 |
-36.300.000 |
|
Profit before Tax |
-2.496.500.000 |
-297.600.000 |
361.200.000 |
|
Tax |
33.600.000 |
6.800.000 |
9.700.000 |
|
Profit after Tax |
-2.462.900.000 |
-290.800.000 |
370.900.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
2.329.000.000 |
258.900.000 |
-401.100.000 |
|
Retained Profit |
-133.900.000 |
-31.900.000 |
-30.200.000 |
|
Balance Sheet |
|||
|
Financial Year |
2013 |
2012 |
2011 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
231.500.000 |
580.700.000 |
619.000.000 |
|
Plant & Machinery |
1.299.000.000 |
3.320.000.000 |
3.837.400.000 |
|
Other Tangible Assets |
35.700.000 |
33.000.000 |
53.000.000 |
|
Total Tangible Assets |
1.566.200.000 |
3.933.700.000 |
4.509.400.000 |
|
Goodwill |
500.000 |
21.700.000 |
42.800.000 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
500.000 |
21.700.000 |
42.800.000 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
50.300.000 |
16.300.000 |
9.500.000 |
|
Total Other Fixed Assets |
50.300.000 |
16.300.000 |
9.500.000 |
|
TOTAL FIXED ASSETS |
1.617.000.000 |
3.971.700.000 |
4.561.700.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
398.800.000 |
497.800.000 |
492.800.000 |
|
Total Inventories |
398.800.000 |
497.800.000 |
492.800.000 |
|
Trade Receivables |
369.500.000 |
550.100.000 |
662.100.000 |
|
Group Receivables |
457.000.000 |
455.500.000 |
604.400.000 |
|
Miscellaneous Receivables |
70.900.000 |
121.000.000 |
70.300.000 |
|
Total Receivables |
897.400.000 |
1.126.600.000 |
1.336.800.000 |
|
Cash |
0 |
0 |
0 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
1.296.200.000 |
1.624.400.000 |
1.829.600.000 |
|
TOTAL ASSETS |
2.913.200.000 |
5.596.100.000 |
6.391.300.000 |
|
Trade Payables |
239.900.000 |
92.200.000 |
124.200.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
1.101.400.000 |
1.768.100.000 |
1.997.300.000 |
|
Miscellaneous Liabilities |
224.300.000 |
266.100.000 |
270.300.000 |
|
TOTAL CURRENT LIABILITIES |
1.565.600.000 |
2.126.400.000 |
2.391.800.000 |
|
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 |
1.165.800.000 |
3.288.900.000 |
3.806.800.000 |
|
TOTAL LONG TERM LIABILITIES |
1.165.800.000 |
3.288.900.000 |
3.806.800.000 |
|
TOTAL LIABILITIES |
2.731.400.000 |
5.415.300.000 |
6.198.600.000 |
|
Called Up Share Capital |
150.000.000 |
150.000.000 |
150.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
-133.200.000 |
-19.200.000 |
12.700.000 |
|
Other Reserves |
165.000.000 |
50.000.000 |
30.000.000 |
|
TOTAL SHAREHOLDERS EQUITY |
181.800.000 |
180.800.000 |
192.700.000 |
|
Other Financials |
|||
|
Contingent Liabilities |
9.100.000 |
3.700.000 |
35.900.000 |
|
Working Capital |
-269.400.000 |
-502.000.000 |
-562.200.000 |
|
Net Worth |
181.300.000 |
159.100.000 |
149.900.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
-69.52 % |
-6.50 % |
7.23 % |
|
Return On Capital Employed |
-55.74 % |
-3.85 % |
4.11 % |
|
Return On Total Assets Employed |
-85.70 % |
-5.32 % |
5.65 % |
|
Return On Net Assets Employed |
-1373.21 % |
-164.60 % |
187.44 % |
|
Sales/Net Working Capital |
-13.33 |
-9.11 |
-8.89 |
|
Stock Turnover Ratio |
11.11 % |
10.88 % |
9.86 % |
|
Debtor Days |
37.56 |
43.88 |
48.37 |
|
Creditor Days |
24.38 |
7.36 |
9.07 |
|
Current Ratio |
0.83 |
0.76 |
0.76 |
|
Liquidity Ratio/Acid Test |
0.57 |
0.53 |
0.56 |
|
Current Debt Ratio |
8.61 |
11.76 |
12.41 |
|
Gearing |
|
|
|
|
Equity In Percentage |
6.35 % |
3.25 % |
3.04 % |
|
Total Debt Ratio |
15.02 |
29.95 |
32.17 |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
Basic Information |
|
|
Business Name |
Stora Enso Kvarnsveden AB |
|
Registered Company Name |
Stora Enso Kvarnsveden AB |
|
Company Registration Number |
5560216722 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556021672201 |
|
Date of Company Registration |
09/03/1923 |
|
Legal Form |
Limited liability company |
|
Principal Activity Description |
Bolaget skall tillverka och försälja trähaltigt
tryckpapper samt bedriva annan därmed förenlig verksamhet. (The company will
manufacture and sell wood-containing printing and to conduct other related
business.) |
|
Contact Address |
C/O Stora Enso Kvarnsveden AB78183 BORLÄNGE |
|
Contact Telephone Number |
010-4665000 |
|
Activities |
|
|
Activity Code |
Activity Description |
|
17122 |
Manufacture of other printing paper |
|
17121 |
Manufacture of newsprint |
|
35300 |
Steam and air conditioning supply |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
C/O Stora Enso Kvarnsveden AB78183 BORLÄNGE |
SWEDEN |
010-4665000 |
|
Other Address |
|
|
Address |
Country |
|
No other addresses for this company. |
|
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
No information for this company. |
|
Employee Information |
|
|
Year |
Number of Employees |
|
2013 |
626 |
|
2012 |
779 |
|
2011 |
824 |
|
2010 |
800 |
|
2009 |
858 |
|
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. |
|
|
|
Event History |
|
|
Event Date |
Event Description |
|
18/08/2014 |
Group Structure Change |
|
04/08/2014 |
Group Structure Change |
|
21/07/2014 |
Group Structure Change |
|
16/07/2014 |
Group Structure Change |
|
15/07/2014 |
Group Structure Change |
|
14/07/2014 |
Group Structure Change |
|
08/07/2014 |
Group Structure Change |
|
04/07/2014 |
Group Structure Change |
|
30/06/2014 |
Group Structure Change |
|
23/06/2014 |
Annual account, new |
|
16/06/2014 |
Annual report (PDF), new |
|
01/04/2014 |
Company representatives, changed |
|
01/04/2014 |
Authorised signatories amended or new/amended vacancy text |
|
18/11/2013 |
Group Structure Change |
|
05/09/2013 |
Annual account, new |
|
06/08/2013 |
Annual report (PDF), new |
|
15/01/2013 |
Company representatives, changed |
|
15/01/2013 |
Authorised signatories amended or new/amended vacancy text |
|
20/12/2012 |
Certificate, deregistered |
|
11/10/2012 |
Annual account, new |
|
08/08/2012 |
Annual report (PDF), new |
|
06/06/2012 |
Certificate, registered |
|
06/06/2012 |
Certificate, deregistered |
|
08/08/2011 |
Annual account, new |
|
29/07/2011 |
Annual report (PDF), new |
|
08/06/2011 |
Certificate, deregistered |
|
13/04/2011 |
Certificate, registered |
|
05/04/2011 |
Company representatives, changed |
|
05/04/2011 |
Board, changed |
|
05/04/2011 |
Authorised signatories amended or new/amended vacancy text |
|
02/04/2011 |
Board, changed |
|
02/04/2011 |
Authorised signatories amended or new/amended vacancy text |
|
02/04/2011 |
Company representatives, changed |
|
29/03/2011 |
Fax number, new |
|
29/03/2011 |
Phone number, new |
|
02/03/2011 |
Phone number, removed |
|
02/03/2011 |
Fax number, removed |
|
23/02/2011 |
Company representatives, changed |
|
23/02/2011 |
Address, changed |
|
23/02/2011 |
Authorised signatories amended or new/amended vacancy text |
|
23/02/2011 |
Board, changed |
|
03/01/2011 |
Certificate, registered |
|
31/08/2010 |
Annual account, new |
|
19/08/2010 |
Annual report (PDF), new |
|
25/11/2009 |
Authorised signatory, changed |
|
25/11/2009 |
Company representatives, changed |
|
25/11/2009 |
Board, changed |
NOTES & COMMENTS
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.