MIRA INFORM REPORT
|
Report No. : |
305457 |
|
Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELOTEC OY |
|
|
|
|
Registered Office : |
Ahjokatu 13, 40320, Jyväskylä |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
01.04.2008 |
|
|
|
|
Com. Reg. No.: |
|
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of other machinery for use in
industry |
|
|
|
|
No. of Employee : |
5 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, 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 2010-11, however, continued recession within the EU dampened the economy in 2012-13. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland took action to ensure it that it met the EU deficit targets in 2013 and retained its triple-A credit rating. 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.
|
Source
: CIA |
Company
name and address
|
Trading Name |
Delotec Keski- Suomen Sammutinpalvelu |
Trade Registry Number |
|
||
|
Company Name |
Delotec Oy |
Business ID |
21578629 |
|
|
|
Previous Name |
- |
|
|||
|
Telephone Number |
0143379460 |
Registered Address |
Ahjokatu 13, 40320, JYVÄSKYLÄ |
|
|
|
Fax Number |
0143379499 |
Visiting Address |
Ahjokatu 13, 40320, JYVÄSKYLÄ |
|
|
|
Home Municipality |
Jyväskylä |
Postal Address |
-, -, - |
|
|
|
Incorporation Date |
01.04.2008 |
Branches |
1 |
|
|
|
Company Type |
Limited company |
Website Address |
|
||
|
Primary Sic Code |
46692 |
Accountant |
Tilintarkastus Riuttanen Oy |
||
|
Primary Sic Description |
Wholesale of other machinery for use in industry |
Last Accounts Date |
31.03.2013 |
||
|
Share Capital (€) |
8.000 |
Holding Company |
|||
|
Deals in importing |
Yes |
Foreign Ownership |
|||
|
Deals in exporting |
Yes |
Currency |
EUR |
||
Key Financials (€)
|
Year |
31.03.2013 |
% |
31.03.2012 |
% |
31.03.2011 |
% |
31.03.2010 |
|
Number of weeks |
52 |
52 |
52 |
52 |
|||
|
Turnover |
1.628.318 |
4% |
1.560.526 |
7% |
1.463.732 |
11% |
1.316.718 |
|
Operating Profit/Loss |
395.455 |
15% |
343.569 |
-7% |
371.292 |
12% |
332.033 |
|
Profit/Loss after Financial Items |
416.558 |
18% |
352.543 |
-7% |
380.262 |
12% |
338.963 |
|
Profit/Loss after tax |
313.944 |
18% |
265.977 |
-5% |
280.747 |
12% |
250.058 |
|
Current Assets |
1.309.965 |
7% |
1.228.520 |
18% |
1.044.039 |
7% |
973.120 |
|
Fixed Assets |
402.028 |
66% |
242.733 |
-7% |
261.919 |
113% |
122.904 |
|
Long Term Debts |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Current Liabilities |
138.980 |
32% |
105.184 |
-9% |
115.866 |
9% |
106.679 |
|
Shareholders Equity |
1.573.013 |
15% |
1.366.069 |
15% |
1.190.092 |
20% |
989.345 |
|
Balance sheet total |
1.711.993 |
16% |
1.471.253 |
13% |
1.305.958 |
19% |
1.096.024 |
|
Number of employees |
5 |
- |
5 |
5 |
|||
|
Auditor qualification |
The auditor has no reservations |
The auditor has no reservations |
The auditor has no reservations |
The auditor has no reservations |
Ratios
|
Year |
31.03.2013 |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|||
|
Solvency Ratio |
92% |
93% |
91% |
90% |
|||
|
Exceptionally Low Indebtedness |
Exceptionally Low Indebtedness |
Exceptionally Low Indebtedness |
Exceptionally Low Indebtedness |
||||
|
Net margin (%) |
26% |
23% |
26% |
26% |
|||
|
Interest Coverage Ratio (times) |
134 |
58 |
288 |
1916 |
|||
|
Gearing (%) |
0% |
0% |
0% |
0% |
|||
|
Liquidity Ratio/Acid Test |
8 |
10 |
7 |
7 |
|||
|
Risk Buffer (%) |
22% |
19% |
28% |
31% |
Shareholder Information
|
Year |
31.03.2013 |
|
Total Value of Shares |
8.000 |
|
Number of Shares |
1.000 |
|
Value of Shares |
8 |
Registrations in Force
|
State |
Registration Date |
|
|
Tax Administration |
Registered |
16.04.2008 |
|
Trade Register |
Registered |
01.04.2008 |
|
Employer Register |
Registered |
01.04.2008 |
|
Prepayment Register |
Registered |
01.04.2008 |
|
Value Added Tax-Liability |
VAT-liable for business activity |
01.04.2008 |
Business History
|
Date |
Event |
Source Company Name |
|
01.04.2008 |
Division |
Delotec Oy merged into
Delotec Keski- Suomen Sammutinpalvelu |
Current Directors
|
Name |
Oinonen Mika
Henrik |
||
|
Date of Birth |
24.11.1970 |
Appointment
Date |
01.04.2008 |
|
Nationality |
FINLAND |
Function |
Actual Member of
Board |
|
Name |
Oinonen Jarmo
Raul Ruurik |
||
|
Date of Birth |
29.07.1947 |
Appointment
Date |
01.04.2008 |
|
Nationality |
FINLAND |
Function |
Actual Member of
Board |
|
Name |
Oinonen Pirjo
Kaarina |
||
|
Date of Birth |
19.05.1946 |
Appointment
Date |
01.04.2008 |
|
Nationality |
FINLAND |
Function |
Chairman of Board |
|
Name |
Oinonen Jarmo
Raul Ruurik |
||
|
Date of Birth |
29.07.1947 |
Appointment
Date |
01.04.2008 |
|
Nationality |
FINLAND |
Function |
Managing director |
Other Company Officials
|
Name |
Riuttanen Vilho
Ilmari |
||
|
Date of Birth |
28.09.1945 |
Appointment
Date |
01.04.2008 |
|
Nationality |
FINLAND |
Function |
Principal
accountant |
Profit & Loss (€)
|
OPERATING INCOME |
31.03.2013 |
% |
31.03.2012 |
% |
31.03.2011 |
% |
31.03.2010 |
|
|
Number of weeks |
52 |
52 |
52 |
52 |
||||
|
Consolidated Accounts |
no |
no |
no |
no |
||||
|
Sales Revenue |
1.628.318 |
4% |
1.560.526 |
7% |
1.463.732 |
11% |
1.316.718 |
|
|
Other Operating Income |
2.245 |
77% |
1.269 |
-7% |
1.361 |
15% |
1.182 |
|
|
Total Operating Income |
1.630.563 |
4% |
1.561.795 |
7% |
1.465.093 |
11% |
1.317.900 |
|
|
Wages & Salaries |
183.179 |
1% |
182.144 |
4% |
175.808 |
4% |
169.783 |
|
|
Depreciation |
12.740 |
-19% |
15.755 |
-19% |
19.524 |
158% |
7.572 |
|
|
Total Operating Expenses |
1.235.108 |
1% |
1.218.226 |
11% |
1.093.801 |
11% |
985.867 |
|
|
Operating Profit/Loss |
395.455 |
15% |
343.569 |
-7% |
371.292 |
12% |
332.033 |
|
|
RESULT FROM
FINANCIAL INVESTMENTS |
||||||||
|
Financial Income |
24.239 |
60% |
15.151 |
47% |
10.297 |
45% |
7.107 |
|
|
Financial Expenses |
3.136 |
-49% |
6.177 |
365% |
1.327 |
650% |
177 |
|
|
Total Financial Investments |
21.103 |
135% |
8.974 |
0% |
8.970 |
29% |
6.930 |
|
|
Profit/Loss after Financial Items |
416.558 |
18% |
352.543 |
-7% |
380.262 |
12% |
338.963 |
|
|
Extraordinary Income |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Extraordinary Expenses |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Profit/Loss Before Tax |
416.558 |
18% |
352.543 |
-7% |
380.261 |
12% |
338.963 |
|
|
Tax |
102.614 |
19% |
86.566 |
-13% |
99.514 |
12% |
88.905 |
|
|
Profit/Loss After Tax |
313.944 |
18% |
265.977 |
-5% |
280.747 |
12% |
250.058 |
|
Balance Sheet (€)
|
ASSETS |
03.2013 |
% |
03.2012 |
% |
03.2011 |
% |
03.2010 |
|
|
Number of weeks |
52 |
52 |
52 |
52 |
||||
|
Consolidated Accounts |
no |
no |
no |
no |
||||
|
FIXED ASSETS |
||||||||
|
Intangible Assets |
438 |
-73% |
1.627 |
-14% |
1.896 |
1723% |
104 |
|
|
Tangible Assets |
34.650 |
-22% |
44.249 |
-21% |
55.740 |
146% |
22.619 |
|
|
Other Fixed Assets |
366.940 |
86% |
196.857 |
-4% |
204.283 |
104% |
100.181 |
|
|
Total Fixed Assets |
402.028 |
66% |
242.733 |
-7% |
261.919 |
113% |
122.904 |
|
|
CURRENT ASSETS |
||||||||
|
Inventories |
167.226 |
-15% |
196.624 |
4% |
189.185 |
-10% |
209.682 |
|
|
Trade Receivables |
186.413 |
-14% |
216.526 |
-21% |
274.457 |
88% |
145.890 |
|
|
Other Receivables |
3.520 |
-76% |
14.794 |
-38% |
23.913 |
259% |
6.656 |
|
|
Cash & Bank Balances |
952.806 |
19% |
800.576 |
44% |
556.484 |
-9% |
610.892 |
|
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
1.309.965 |
7% |
1.228.520 |
18% |
1.044.039 |
7% |
973.120 |
|
|
Total Assets |
1.711.993 |
16% |
1.471.253 |
13% |
1.305.958 |
19% |
1.096.024 |
|
Equity and Liabilities (€)
|
EQUITY |
||||||||
|
Share Capital |
8.000 |
0% |
8.000 |
0% |
8.000 |
0% |
8.000 |
|
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Retained Earnings |
1.109.324 |
23% |
902.380 |
24% |
726.403 |
38% |
525.656 |
|
|
Other Reserves |
455.689 |
0% |
455.689 |
0% |
455.689 |
0% |
455.689 |
|
|
Total Equity |
1.573.013 |
15% |
1.366.069 |
15% |
1.190.092 |
20% |
989.345 |
|
|
LONG TERM
LIABILITIES |
||||||||
|
Long Term Liabilities to Financial
Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Liabilities Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term Debts |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
CURRENT
LIABILITIES |
||||||||
|
Trade Payables |
49.086 |
-6% |
52.187 |
20% |
43.427 |
22% |
35.545 |
|
|
Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Financial Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Liabilities |
89.894 |
70% |
52.997 |
-27% |
72.439 |
2% |
71.134 |
|
|
Total Current Liabilities |
138.980 |
32% |
105.184 |
-9% |
115.866 |
9% |
106.679 |
|
|
Total Liabilities |
138.980 |
32% |
105.184 |
-9% |
115.866 |
9% |
106.679 |
|
|
Total Equity
& Liabilities |
1.711.993 |
16% |
1.471.253 |
13% |
1.305.958 |
19% |
1.096.024 |
|
Other Financials (€)
|
Working Capital |
1.170.985 |
4% |
1.123.336 |
21% |
928.173 |
7% |
866.441 |
|
|
Net Worth |
1.572.575 |
15% |
1.364.442 |
15% |
1.188.196 |
20% |
989.241 |
Key Ratios
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|||||
|
Number of weeks |
52 |
52 |
52 |
52 |
||||
|
Consolidated Accounts |
no |
no |
no |
no |
||||
|
PROFITABILITY |
||||||||
|
Net Margin % |
25,6% |
22,6% |
26,0% |
25,7% |
||||
|
Operating
Profit/Loss % |
24,3% |
22,0% |
25,4% |
25,2% |
||||
|
Pre-Tax Profit
Margin % |
25,6% |
22,6% |
26,0% |
25,7% |
||||
|
TRADING PERFORMANCE |
||||||||
|
Return on Net
Assets Employed % |
26,5% |
25,8% |
32,0% |
34,3% |
||||
|
Return on Total
Capital % |
24,5% |
24,4% |
29,2% |
30,9% |
||||
|
Interest Coverage
Ratio (times) |
134 |
58 |
288 |
1916 |
||||
|
Return on Capital
Employed % |
26,5% |
25,8% |
32,0% |
34,3% |
||||
|
Return on Total
Assets Employed % |
24,3% |
24,0% |
29,1% |
30,9% |
||||
|
Interest on Debt
% |
2,3% |
5,9% |
1,2% |
0,2% |
||||
|
Risk Buffer % |
22,3% |
18,5% |
28,1% |
30,8% |
||||
|
SHORT TERM LIQUIDITY |
||||||||
|
Liquidity
Ratio/Acid Test |
8 |
10 |
7 |
7 |
||||
|
Current Ratio % |
943,0% |
1168,0% |
901,0% |
912,0% |
||||
|
Debtor Days |
42 |
51 |
68 |
40 |
||||
|
Working capital |
1.170.985 |
1.123.336 |
928.173 |
866.441 |
||||
|
LONG TERM LIQUIDITY |
||||||||
|
Equity Ratio % |
91,9% |
92,9% |
91,1% |
90,3% |
||||
|
Gearing % |
0,0% |
0,0% |
0,0% |
0,0% |
||||
|
Current Debt
Ratio |
0 |
0 |
0 |
0 |
||||
|
Total Debt Ratio |
0 |
0 |
0 |
0 |
||||
|
Relative debt % |
8,5% |
6,7% |
7,9% |
8,1% |
||||
|
BUSINESS MEASURES |
||||||||
|
Change in
turnover % |
4,3% |
6,6% |
11,2% |
- |
||||
|
Turnover/employees |
325664 |
- |
292746 |
263344 |
||||
|
Sales/Net Working
Capital |
1 |
1 |
2 |
2 |
||||
|
Stock Turnover
Ratio % |
10,3% |
12,6% |
12,9% |
15,9% |
||||
|
Creditor Days |
11 |
12 |
11 |
10 |
||||
|
Equity in
Percentage % |
117,0% |
107,3% |
108,2% |
99,4% |
||||
Group structure
No group structure
Linked Companies
No linked companies
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.