MIRA INFORM REPORT
|
Report No. : |
357402 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KEMIRA OYJ |
|
|
|
|
Registered Office : |
Porkkalankatu 3, 00180 Helsink |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
2014 |
|
|
|
|
Date of Incorporation : |
01.01.1923 |
|
|
|
|
Com. Reg. No.: |
01098230 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
Manufacture of other chemical products. |
|
|
|
|
No. of Employee : |
477 |
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 : |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Finland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
FINLAND ECONOMIC OVERVIEW
Finland has a highly industrialized, largely free-market economy with per capita output almost as high as that of Austria, Belgium, the Netherlands, or Sweden. Trade is important, with exports accounting for over one-third of GDP in recent years. Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology for mobile phones as well as promotion of startups in the ICT, gaming, cleantech, and biotechnology sectors. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU before 2009 and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in that year, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010-12, however, continued recession within the EU dampened the economy in 2012-14. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, losing its coveted triple-A credit rating, and on pace to breach EU debt limits in 2015. Finland's main challenge will be to stimulate growth while faced with weak export demand in the EU and its own government austerity measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth. The depreciating ruble will retard exports to Russia.
|
Source
: CIA |
Company
Summary
|
Business Name |
KEMIRA OYJ |
|
Country |
FINLAND |
|
Company Registration Number |
01098230 |
|
Activity Code |
20590 |
|
Activity Description |
Manufacture of other chemical products n.e.c. |
|
Company Status |
Active (Active) |
|
Latest Turnover Figure |
1.228.093.326 EUR |
|
Latest Shareholder Equity Figure |
1.085.884.040 EUR |
Basic
Information
|
Business Name |
Kemira Oyj |
|
Registered Company Name |
Kemira Oyj |
|
Company Registration Number |
01098230 |
|
Country |
FINLAND |
|
VAT Registration Number |
01098230 |
|
VAT Registration Date |
01/06/1994 |
|
Date of Company Registration |
16/12/1933 |
|
Date of Starting Operations |
01/01/1923 |
|
Legal Form |
Public limited company |
|
Type of Ownership |
Private Finnish |
|
Company Status |
Active (Active) |
|
Currency of this Report |
EUR |
|
Principal Activity Code |
20590 |
|
Principal Activity Description |
Manufacture of other chemical products n.e.c. |
|
Contact Address |
Porkkalankatu 3, 00180 Helsinki |
|
Contact Telephone Number |
+358 10 8611 |
Main
Address
Address Porkkalankatu 3, 00180 Helsink
|
|
FINLAND |
|
Telephone |
+358 10 8611 |
Other
Addresses
|
Address |
Country |
|
PL 330, 00101 Helsinki |
|
Activities
|
Activity Code |
Activity Description |
|
20590 |
Manufacture of other chemical products n.e.c. |
Email
Addresses
No email addresses for this company
Web
Pages
Employee
Information
|
Year |
Number of Employees |
|
2014 |
477 |
|
2013 |
561 |
|
2012 |
629 |
Advisors
Auditor Name Deloitte
& Touche Oy
Miscellaneous
Information
|
Fax Number |
+358 0108621119 |
|
Number of places of business |
10 |
Auditor
comment
|
Date of accounts |
Comments |
|
2014-12-30 |
The auditor has given an audit report of standard format. |
Additional
names
Name Type
Branches
Name
Espoo
Harjavalta
Kouvola
Lappeenranta
Oulu
Pori
Sastamala
Business
mortgages summary
No business mortgages for that company
Business
mortgages
No business mortgages for that company
Import
export activities
|
Import |
Export |
|
Yes |
Yes |
Register
Information
|
Tax administration |
16/12/1933 |
|
Trade register |
16/12/1933 |
|
Employer register |
01/07/1946 |
|
Prepayment register |
29/02/2016 |
|
Date of latest chagne in trade register |
01/12/2015 |
|
VAT Liability |
01/06/1994 |
Profit
and Loss
|
Financial Year |
2014 |
(%) |
2013 |
(%) |
2012 |
|
Number of Weeks |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated Accounts |
No |
(%) |
No |
(%) |
No |
|
Revenue |
1.228.093.326 |
-11.1% |
1.382.093.043 |
1.9% |
1.356.011.965 |
|
Operating Costs |
1.224.948.065 |
-12.0% |
1.392.437.137 |
-0.1% |
1.394.237.974 |
|
Operating Profit |
3.145.261 |
130.4% |
-10.344.094 |
72.9% |
-38.226.009 |
|
Wages & Salaries |
30.834.090 |
-19.9% |
38.512.878 |
-4.8% |
40.450.010 |
|
Pension Costs |
6.708.797 |
-22.1% |
8.616.350 |
-9.0% |
9.465.729 |
|
Depreciation |
30.841.746 |
-9.6% |
34.130.719 |
14.2% |
29.881.605 |
|
Financial Income |
58.961.353 |
-76.3% |
248.625.877 |
-46.0% |
460.540.090 |
|
Financial Expenses |
68.296.650 |
-32.8% |
101.579.534 |
-72.8% |
373.641.196 |
|
Extraordinary Income |
4.051.000 |
-62.4% |
10.760.000 |
-10.9% |
12.071.000 |
|
Profit before Tax |
-2.139.037 |
-101.5% |
147.462.249 |
142.8% |
60.743.885 |
|
Tax |
126.594 |
-97.8% |
5.809.899 |
194.5% |
-6.145.810 |
|
Profit after Tax |
-2.265.631 |
-101.6% |
141.652.350 |
111.8% |
66.889.695 |
|
Other Appropriations |
-986.477 |
-307.8% |
474.630 |
126.5% |
-1.790.383 |
|
Retained Profit |
-1.279.154 |
-100.9% |
141.177.720 |
105.6% |
68.680.078 |
Balance
Sheet
|
Financial Year |
2014 |
(%) |
2013 |
(%) |
2012 |
|
Number of Weeks |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated Accounts |
No |
(%) |
No |
(%) |
No |
|
Land & Buildings |
5.419.435 |
-23.3% |
7.061.214 |
-8.5% |
7.714.285 |
|
Plant & Machinery |
18.488.019 |
16.6% |
15.849.915 |
6.1% |
14.934.209 |
|
|
5.227.213 |
8.3% |
4.828.341 |
251.9% |
1.371.946 |
|
Total Tangible Assets |
29.134.667 |
5.0% |
27.739.470 |
15.5% |
24.020.440 |
|
Goodwill |
- |
- |
- |
- |
- |
|
Other Intangible Assets |
86.731.163 |
-14.1% |
100.964.301 |
-11.5% |
114.097.259 |
|
Total Intangible Assets |
86.731.163 |
-14.1% |
100.964.301 |
-11.5% |
114.097.259 |
|
Investments |
1.714.539.021 |
3.2% |
1.662.156.533 |
-8.6% |
1.817.787.006 |
|
Loans To Group |
- |
- |
- |
- |
- |
|
Total Other Fixed Assets |
- |
- |
- |
- |
- |
|
TOTAL FIXED ASSETS |
1.830.404.851 |
2.2% |
1.790.860.304 |
-8.4% |
1.955.904.705 |
|
Raw Materials |
22.568.316 |
11.8% |
20.193.863 |
-5.7% |
21.407.026 |
|
Finished Goods |
50.663.106 |
-10.2% |
56.425.447 |
-8.7% |
61.786.167 |
|
Other Inventories |
- |
- |
- |
- |
- |
|
Total Inventories |
73.231.422 |
-4.4% |
76.619.310 |
-7.9% |
83.193.193 |
|
Trade Receivables |
116.488.277 |
-10.1% |
129.544.227 |
-9.1% |
142.555.747 |
|
Group Receivables |
123.910.963 |
-28.9% |
174.183.982 |
52.9% |
113.887.340 |
|
Receivables Due After 1 Year |
182.251.104 |
15.9% |
157.196.899 |
9.4% |
143.711.806 |
|
Miscellaneous Receivables |
28.523.725 |
55.7% |
18.319.152 |
-9.7% |
20.298.135 |
|
Total Receivables |
451.174.069 |
-5.9% |
479.244.260 |
14.0% |
420.453.028 |
|
Cash |
62.735.606 |
-45.4% |
114.914.629 |
190.2% |
39.602.157 |
|
Other Current Assets |
22.910.617 |
722.4% |
2.785.859 |
-85.9% |
19.761.023 |
|
TOTAL CURRENT ASSETS |
610.051.714 |
-9.4% |
673.564.058 |
19.6% |
563.009.401 |
|
TOTAL ASSETS |
2.440.456.565 |
-1.0% |
2.464.424.362 |
-2.2% |
2.518.914.106 |
|
Trade Payables |
60.613.842 |
-24.3% |
80.104.064 |
-0.6% |
80.548.721 |
|
Bank Liabilities |
84.415.495 |
154.6% |
33.154.049 |
-27.3% |
45.615.870 |
|
Other Loans Or Finance |
36.522.886 |
-80.6% |
188.543.237 |
-7.0% |
202.733.590 |
|
Group Payables |
714.491.990 |
13.1% |
631.627.758 |
-7.4% |
681.762.726 |
|
Miscellaneous Liabilities |
59.768.762 |
20.4% |
49.653.369 |
-18.8% |
61.129.605 |
|
TOTAL CURRENT LIABILITIES |
955.812.975 |
-2.8% |
983.082.477 |
-8.3% |
1.071.790.512 |
|
Trade Payables Due After 1 Year |
- |
- |
- |
- |
- |
|
Bank Liabilities Due After 1 Year |
161.480.632 |
-16.6% |
193.707.306 |
-15.4% |
228.952.973 |
|
Other Loans Or Finance Due After 1 |
221.423.368 |
933.6% |
21.423.368 |
0.0% |
21.423.368 |
|
Year |
|
|
|
|
|
|
Group Payables Due After 1 Year |
- |
-100.0% |
75.000.000 |
0.0% |
75.000.000 |
|
Miscellaneous Liabilities Due After 1 |
28.889.737 |
-22.6% |
37.326.105 |
32.9% |
28.092.069 |
|
Year |
|
|
|
|
|
|
TOTAL LONG TERM LIABILITIES |
411.793.737 |
25.8% |
327.456.779 |
-7.4% |
353.468.410 |
|
TOTAL LIABILITIES |
1.367.606.712 |
4.4% |
1.310.539.256 |
-8.0% |
1.425.258.922 |
|
Called Up Share Capital |
221.761.728 |
0.0% |
221.761.728 |
0.0% |
221.761.728 |
|
Share Premium |
257.877.732 |
257.877.732 |
257.877.732 |
|
|
|
Revenue Reserves |
400.262.710 |
-17.0% |
482.015.069 |
14.4% |
421.370.378 |
|
Other Reserves |
196.999.935 |
1.1% |
194.884.808 |
-1.4% |
197.681.062 |
|
TOTAL SHAREHOLDERS EQUITY |
1.076.902.105 |
-6.9% |
1.156.539.337 |
5.3% |
1.098.690.900 |
Other
Financials
|
Financial Year |
2014 |
(%) |
2013 |
(%) |
2012 |
|
Working Capital |
-345.761.261 |
-11.7% |
-309.518.419 |
39.2% |
-508.781.111 |
|
|
990.170.942 |
-6.2% |
1.055.575.036 |
7.2% |
984.593.641 |
Ratios
|
Financial Year |
2014 |
2013 |
2012 |
|
Pre-Tax Profit Margin (%) |
-0.17 |
10.67 |
4.48 |
|
Return On Capital Employed (%) |
-0.14 |
9.94 |
4.18 |
|
Return On Total Assets Employed (%) |
-0.09 |
5.98 |
2.41 |
|
Return On Net Assets Employed (%) |
-0.20 |
12.75 |
5.53 |
|
Sales/Net Working Capital |
-3.55 |
-4.47 |
-2.67 |
|
Stock Turnover Ratio (%) |
5.96 |
5.54 |
6.14 |
|
Debtor Days |
34.62 |
34.21 |
38.37 |
|
Creditor Days |
18.01 |
21.15 |
21.68 |
|
Current Ratio |
0.64 |
0.69 |
0.53 |
|
Liquidity Ratio/Acid Test |
0.56 |
0.61 |
0.45 |
|
Current Debt Ratio |
0.89 |
0.85 |
0.98 |
|
Gearing (%) |
46.08 |
31.18 |
36.32 |
|
Equity In Percentage (%) |
45.75 |
48.93 |
45.69 |
|
Total Debt Ratio |
1.27 |
1.13 |
1.30 |
Additional
financials
|
Financial Year |
2014 |
|
2013 |
|
2012 |
|
Bonds and notes - short terms |
- |
|
- |
|
- |
|
Bonds and notes - long terms |
- |
|
- |
|
- |
|
Gross revenue |
410.481.139 |
-13.7% |
475.651.308 |
5.1% |
452.364.650 |
|
Operating margin ratio |
2.70 |
|
1.70 |
|
-0.60 |
|
Working capital ratio |
10.70 |
|
9.30 |
|
11.00 |
|
Networking capital percentage |
-42.70 |
|
-33.60 |
|
-47.70 |
|
Net gearing |
0.40 |
|
0.30 |
|
0.50 |
|
Equity ratio |
44.50 |
|
47.40 |
|
44.00 |
|
Operating income percentage |
0.30 |
|
-0.70 |
|
-2.80 |
|
Relative indebtedness |
110.50 |
|
93.90 |
|
104.30 |
|
Turnover per person |
2.574.619 |
|
2.463.624 |
|
2.155.822 |
|
Financing result percentage |
2.00 |
|
11.70 |
|
6.20 |
|
Number of shares |
155.342.557 |
|
|
|
|
Share
Capital Structure
|
Issued Share Capital |
221.761.728 EUR |
|
Nominal Share Capital |
221.761.728 EUR |
Shareholders
|
Shareholder |
Address |
% Shares Held |
|
Yritykset |
41 |
|
|
Hallintarekisteröidyt ja ulkomai |
19 |
|
|
Kotitaloudet |
16 |
|
|
Julkisyhteisöt |
11 |
|
|
Rahoitus- ja vakuutuslaitokset |
7 |
|
|
Voittoa tavoittelemattomat yhtei |
4 |
|
|
Ulkomaat |
1 |
|
Current
Directors
|
Name |
Date of birth |
City |
Appointment Date |
Position |
|
Rosendal Jari Mikael |
20/07/1965 |
Espoo |
09/06/2014 |
Managing director |
|
Hakkila Jukka Eljas |
25/11/1960 |
Espoo |
25/07/2013 |
Substitute managing director |
|
Paasikivi Pertti Jari |
30/04/1954 |
Rauma |
30/04/2014 |
Chairman |
|
Büchele Wolfgang Heinz |
11/08/1959 |
Saksa Ltv |
30/04/2014 |
Ordinary member |
|
Laaksonen Juha Olavi |
31/12/1952 |
Helsinki |
18/10/2007 |
Ordinary member |
|
Lappalainen Timo Antero |
11/10/1962 |
Kauniainen |
30/04/2014 |
Ordinary member |
|
Lau Fok Kin Wah Winnie |
|
Kiina |
04/05/2011 |
Ordinary member |
|
Tuomas Kerttu Maria |
19/03/1957 |
Helsinki |
27/04/2010 |
Ordinary member |
Other
Company Officials
|
Name |
City |
Appointment Date |
Position |
|
Vattulainen Jukka Pekka |
Vantaa |
19/04/2012 |
Princ. resp. auditor of acc. corp. |
Ultimate
Holding Parent
Ultimate Holding Company Name
No information for this company.
Immediate
Holding Parent
Immediate Holding Company Name
No information for this company.
Subsidiary
Companies
|
Subsidiary Name |
Number |
|
Kemira Europe -konserni |
17408950 |
|
Kemira Operon Oy |
22993189 |
|
Ruoholahden Kuusenkerkkä Oy |
01170810 |
|
Chesapeake Agro-Iron LLC, Yhdysvallat |
|
|
Clean Water Logistics LLC, Yhdysvallat |
|
|
Corporacion Kemira Chemicals de Venezuela C.A., Venezuela |
|
|
Finnchem Canada Inc., Yhdysvallat |
|
|
Finnchem USA Inc., Yhdysvallat |
|
|
HTC Augusta Inc, Yhdysvallat |
|
|
Industry Park i Helsingborg Förvaltning AB, Ruotsi |
|
|
Kemifloc Slovakia S.r.o., Slovakia |
|
|
Kemifloc a.s., Tsekki |
|
|
Kemipol Sp. z o.o., Puola |
|
|
Kemira Argentina S.A. |
|
|
Kemira (Asia) Co. Ltd., Kiina |
|
|
Kemira Asia Pacific Pte. Ltd., Singapore |
|
|
Kemira Cell sp.z.o.o., Puola |
|
|
Kemira Chemicals Brasil Ltda, Brasilia |
|
|
Kemira Chemicals Canada Inc, Kanada |
|
|
Kemira Chemicals Germany GmbH, Saksa |
|
|
Kemira Chemicals Inc. Yhdysvallat |
|
|
Kemira Chemicals India Private Ltd., Intia |
|
|
Kemira Chemicals (Nanjing) Co. Ltd., Kiina |
|
|
Kemira Chemicals NV, Belgia |
|
|
Kemira Chemicals (Shanghai) Co. Ltd, Kiina |
|
|
There are more than 25 entities. To see the full list, please view the
website report accompanying the PDF |
|
Affiliates
Affiliate Name
Aliada Quimica de Portugal Lda., Portugali
|
Haapaveden Ympäristöpalvelut Oy |
18785782 |
|
Kemwater Phil., Corp. |
|
|
Sachtleben GmbH, Saksa |
|
|
White Pigment LLC, Yhdysvallat |
|
|
Haapaveden Puhdistamo Oy |
17694387 |
Number of payment defaults and other
notification
Number
4
Payment defaults judgements and protests
|
Date |
Details |
Amount |
Creditor |
|
2015-12-15 |
Private-judicial draft protest, not published |
744 |
Intrum Justitia Oy |
|
2015-06-11 |
Private-judicial draft protest, not published |
3.516 |
Ok Perintä Oy |
|
2015-04-22 |
Private-judicial draft protest, not published |
1.353 |
Ok Perintä Oy |
|
2015-04-22 |
Private-judicial draft protest, not published |
2.730 |
Ok Perintä Oy |
Public
announcements
|
Date |
Details |
|
No details available |
|
Bankruptcies
|
Date |
Details |
|
No details available |
|
Company
restructurings
|
Date |
Details |
|
No details available |
|
Other
credit issues
|
Date |
Details |
|
No details available |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
EUR |
1 |
Rs.72.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared by
: |
ANK |
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.