|
Report No. : |
296456 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SKS MEKANIIKKA OY |
|
|
|
|
Formerly Known As : |
SKS-MEKANIIKKA OY |
|
|
|
|
Registered Office : |
Martinkyläntie 50 A, 01720, Vantaa |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.11.1997 |
|
|
|
|
Com. Reg. No.: |
11072827 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Agents involved in the sale of machinery, industrial equipment, ships
and aircraft |
|
|
|
|
No. of Employees : |
33 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
|
Trading Name |
SKS Mekaniikka Oy |
Trade Registry Number |
|
|
Company Name |
SKS Mekaniikka Oy |
Business ID |
11072827 |
|
Previous Name |
SKS-mekaniikka Oy |
|
|
|
Telephone Number |
02076461 |
Registered Address |
MARTINKYLÄNTIE 50 A, 01720, VANTAA |
|
Fax Number |
0207646824 |
Visiting Address |
Martinkyläntie 50, 01720, VANTAA |
|
Home Municipality |
Vantaa |
Postal Address |
PL 122, 01721, VANTAA |
|
Incorporation Date |
14.11.1997 |
Branches |
3 |
|
Company Type |
Limited company |
Website Address |
|
|
Primary Sic Code |
46140 |
Accountant |
Perälä Samuli Sakari |
|
Primary Sic Description |
Agents involved in the sale of machinery, industrial equipment, ships
and aircraft |
Last Accounts Date |
31.12.2012 |
Current Directors
|
Name |
Blomberg Kari Juhani |
|
|
|
Date of Birth |
19.04.1954 |
Appointment Date |
29.09.2011 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Nordling Jukka Väinö Antero |
|
|
|
Date of Birth |
16.06.1952 |
Appointment Date |
29.09.2011 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Aho Heimo Juhani |
|
|
|
Date of Birth |
09.04.1949 |
Appointment Date |
29.09.2011 |
|
Nationality |
FINLAND |
Function |
Chairman of Board |
|
Name |
Nordling Jukka Väinö Antero |
|
|
|
Date of Birth |
16.06.1952 |
Appointment Date |
14.11.1997 |
|
Nationality |
FINLAND |
Function |
Managing director |
Other Company
Officials
|
Name |
Blomberg Kari Juhani |
|
|
|
Date of Birth |
19.04.1954 |
Appointment Date |
11.10.2005 |
|
Nationality |
FINLAND |
Function |
Procurist |
|
Name |
Räty Jussi Reijo Juhani |
|
|
|
Date of Birth |
06.05.1961 |
Appointment Date |
11.10.2005 |
|
Nationality |
FINLAND |
Function |
Procurist |
|
Name |
Räty Jussi Reijo Juhani |
|
|
|
Date of Birth |
06.05.1961 |
Appointment Date |
29.09.2011 |
|
Nationality |
FINLAND |
Function |
Alternate Member of Board |
No negative information found.
|
Share Capital (€) |
454.107 |
Holding Company |
|
|
Deals in importing |
Yes |
Foreign Ownership |
No |
|
Deals in exporting |
Yes |
Currency |
EUR |
Shareholder
Information
|
Year |
31.12.2013 |
|
Total Value of Shares |
454.107 |
|
Number of Shares |
2.700 |
|
Value of Shares |
168.19 |
N/A
Group structure
|
Company
Name |
Registered Number |
Latest Key Financials |
Percentage Owned |
Turnover |
|
SKS GROUP OY |
01965322 |
31.12.2012 |
- |
€11 507 907 |
|
SKS SWEDEN AB |
5563470292 |
31.12.2013 |
70% |
40 156 KSEK |
|
ESWECHI AB |
N/A |
- |
100% |
- |
|
KIINTEISTÖ OY HYVINKÄÄN VA... |
18482095 |
31.12.2011 |
100% |
€25 410 |
|
KIINTEISTÖ OY TURUN RAVURI... |
06799087 |
31.12.2011 |
100% |
€12 500 |
|
MOOTTORI JA KONEHUOLTO OY |
N/A |
- |
100% |
- |
|
SKS AUTOMAATIO
OY |
11072931 |
31.12.2012 |
100% |
€19 368 206 |
|
SKS CHINA CO.
LTD |
N/A |
- |
100% |
- |
|
SKS CONNECTO OY |
07073464 |
31.12.2012 |
100% |
€22 027 270 |
|
CONNECTO VYBORG
ZAO |
N/A |
- |
100% |
- |
|
SKS CONNECTO
POLSKA SP.ZO.O |
N/A |
- |
100% |
- |
|
SKS CONTROL OY |
02145991 |
31.12.2012 |
90% |
€5 762 335 |
|
SKS MEKANIIKKA OY |
11072827 |
31.12.2012 |
100% |
€26 988 576 |
|
SKS TOIJALA
WORKS OY |
16373880 |
31.12.2012 |
95% |
€38 530 647 |
|
SKS-TEHNIKA OÜ |
N/A |
- |
100% |
- |
|
SKS-YHTIÖT OY |
N/A |
- |
100% |
- |
Linked Companies
|
Name |
Safe Number |
Number |
Latest Key financials |
rating |
limit |
Turnover |
|
ESWECHI AB |
SE01186527 |
5567951610 |
31.12.2013 |
N/R |
- |
- |
|
201312 |
- |
- |
- |
N/R |
- |
- |
|
SKS CHINA CO. LTD. |
- |
- |
- |
N/R |
- |
- |
Key Financials (€)
|
Year |
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
Turnover |
23.912.900 |
-11% |
26.988.576 |
1% |
26.791.131 |
17% |
22.979.531 |
|
Operating Profit/Loss |
1.404.544 |
-21% |
1.778.561 |
-16% |
2.116.162 |
13% |
1.867.692 |
|
Profit/Loss after Financial Items |
1.344.507 |
-21% |
1.696.918 |
-17% |
2.054.997 |
11% |
1.850.911 |
|
Profit/Loss after tax |
4.391 |
5% |
4.176 |
-16% |
4.967 |
4% |
4.788 |
|
Current Assets |
7.549.432 |
-12% |
8.588.210 |
-10% |
9.562.431 |
25% |
7.633.202 |
|
Fixed Assets |
46.960 |
-52% |
97.565 |
-34% |
146.920 |
-26% |
197.921 |
|
Long Term Debts |
44.407 |
1% |
44.160 |
1% |
43.544 |
1% |
42.992 |
|
Current Liabilities |
6.316.922 |
-15% |
7.410.697 |
-12% |
8.438.449 |
29% |
6.565.188 |
|
Shareholders Equity |
1.235.063 |
0% |
1.230.918 |
0% |
1.227.358 |
0% |
1.222.943 |
|
Balance sheet total |
7.596.392 |
-13% |
8.685.775 |
-11% |
9.709.351 |
24% |
7.831.123 |
|
Number of employees |
33 |
|
34 |
|
34 |
|
33 |
|
Auditor qualification |
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
Ratios
|
Year |
31.12.2013 |
|
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
Solvency Ratio |
16% |
|
14% |
|
13% |
|
16% |
|
|
High Indebtedness |
|
High Indebtedness |
|
High Indebtedness |
|
High Indebtedness |
|
Net margin (%) |
6% |
|
6% |
|
8% |
|
8% |
|
Interest Coverage Ratio (times) |
23 |
|
22 |
|
25 |
|
111 |
|
Gearing (%) |
4% |
|
4% |
|
4% |
|
4% |
|
Liquidity Ratio/Acid Test |
0 |
|
0 |
|
0 |
|
0 |
|
Risk Buffer (%) |
18% |
|
19% |
|
21% |
|
24% |
Profit & Loss
(€)
|
|
Operating Income |
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
no |
|
|
Sales Revenue |
23.912.900 |
-11% |
26.988.576 |
1% |
26.791.131 |
17% |
22.979.531 |
|
|
Other Operating Income |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Operating Income |
23.912.900 |
-11% |
26.988.576 |
1% |
26.791.131 |
17% |
22.979.531 |
|
|
Wages & Salaries |
2.276.986 |
-3% |
2.347.075 |
-4% |
2.457.583 |
16% |
2.112.542 |
|
|
Depreciation |
50.605 |
-1% |
51.045 |
0% |
51.000 |
0% |
51.000 |
|
|
Total Operating Expenses |
22.508.356 |
-11% |
25.210.015 |
2% |
24.674.969 |
17% |
21.111.839 |
|
|
Operating Profit/Loss |
1.404.544 |
-21% |
1.778.561 |
-16% |
2.116.162 |
13% |
1.867.692 |
|
|
Result From Financial Investments |
|||||||
|
|
Financial Income |
0 |
- |
0 |
- |
24.517 |
- |
0 |
|
|
Financial Expenses |
60.037 |
-26% |
81.643 |
-5% |
85.682 |
411% |
16.781 |
|
|
Total Financial Investments |
-60.037 |
- |
-81.643 |
- |
-61.165 |
- |
-16.781 |
|
|
Profit/Loss after Financial Items |
1.344.507 |
-21% |
1.696.918 |
-17% |
2.054.997 |
11% |
1.850.911 |
|
|
Extraordinary Income |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Extraordinary Expenses |
1.311.000 |
-21% |
1.666.000 |
-18% |
2.025.000 |
11% |
1.830.000 |
|
|
Profit/Loss Before Tax |
33.507 |
8% |
30.918 |
3% |
29.997 |
43% |
20.911 |
|
|
Tax |
29.116 |
9% |
26.742 |
7% |
25.030 |
55% |
16.123 |
|
|
Profit/Loss After Tax |
4.391 |
5% |
4.176 |
-16% |
4.967 |
4% |
4.788 |
Balance Sheet (€)
|
|
Assets |
12.2013 |
% |
12.2012 |
% |
12.2011 |
% |
12.2010 |
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
no |
|
|
Fixed Assets |
|||||||
|
|
Intangible Assets |
46.960 |
-52% |
97.565 |
-34% |
146.740 |
-26% |
197.380 |
|
|
Tangible Assets |
0 |
- |
0 |
- |
180 |
-67% |
541 |
|
|
Other Fixed Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Fixed Assets |
46.960 |
-52% |
97.565 |
-34% |
146.920 |
-26% |
197.921 |
|
|
Current Assets |
|||||||
|
|
Inventories |
5.139.994 |
-13% |
5.881.918 |
-11% |
6.577.808 |
41% |
4.655.056 |
|
|
Trade Receivables |
2.344.534 |
-9% |
2.580.364 |
-8% |
2.807.838 |
-1% |
2.825.801 |
|
|
Other Receivables |
63.279 |
881% |
6.448 |
-10% |
7.190 |
-78% |
32.245 |
|
|
Cash & Bank Balances |
1.625 |
-99% |
119.480 |
-30% |
169.595 |
41% |
120.100 |
|
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
7.549.432 |
-12% |
8.588.210 |
-10% |
9.562.431 |
25% |
7.633.202 |
|
|
Total Assets |
7.596.392 |
-13% |
8.685.775 |
-11% |
9.709.351 |
24% |
7.831.123 |
Equity and
Liabilities (€)
|
|
EQUITY |
|||||||
|
|
Share Capital |
454.107 |
0% |
454.107 |
0% |
454.107 |
0% |
454.107 |
|
|
Share Premium Reserve |
766.197 |
0% |
766.197 |
- |
0 |
- |
766.197 |
|
|
Retained Earnings |
14.759 |
39% |
10.614 |
50% |
7.054 |
167% |
2.639 |
|
|
Other Reserves |
0 |
- |
0 |
- |
766.197 |
- |
0 |
|
|
Total Equity |
1.235.063 |
0% |
1.230.918 |
0% |
1.227.358 |
0% |
1.222.943 |
|
|
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 |
44.407 |
1% |
44.160 |
1% |
43.544 |
1% |
42.992 |
|
|
Total Long Term Debts |
44.407 |
1% |
44.160 |
1% |
43.544 |
1% |
42.992 |
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade Payables |
1.535.314 |
-12% |
1.751.967 |
-25% |
2.331.767 |
25% |
1.872.718 |
|
|
Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Financial Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Liabilities |
4.781.608 |
-16% |
5.658.730 |
-7% |
6.106.682 |
30% |
4.692.470 |
|
|
Total Current Liabilities |
6.316.922 |
-15% |
7.410.697 |
-12% |
8.438.449 |
29% |
6.565.188 |
|
|
Total Liabilities |
6.361.329 |
-15% |
7.454.857 |
-12% |
8.481.993 |
28% |
6.608.180 |
|
|
Total Equity & Liabilities |
7.596.392 |
-13% |
8.685.775 |
-11% |
9.709.351 |
24% |
7.831.123 |
Other Financials
(€)
|
|
Working Capital |
1.232.510 |
5% |
1.177.513 |
5% |
1.123.982 |
5% |
1.068.014 |
|
|
Net Worth |
1.188.103 |
5% |
1.133.353 |
5% |
1.080.618 |
5% |
1.025.563 |
Key Ratios
|
|
|
31.12.2013 |
|
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
Number of weeks |
52 |
|
52 |
|
52 |
|
52 |
|
|
Consolidated Accounts |
no |
|
no |
|
no |
|
no |
|
|
PROFITABILITY |
|||||||
|
|
Net Margin % |
5,6% |
|
6,3% |
|
7,7% |
|
8,1% |
|
|
Operating Profit/Loss % |
5,9% |
|
6,6% |
|
7,9% |
|
8,1% |
|
|
Pre-Tax Profit Margin % |
0,1% |
|
0,1% |
|
0,1% |
|
0,1% |
|
|
TRADING PERFORMANCE |
|||||||
|
|
Return on Net Assets Employed % |
2,7% |
|
2,5% |
|
2,4% |
|
1,7% |
|
|
Return on Total Capital % |
18,5% |
|
20,5% |
|
22,1% |
|
23,9% |
|
|
Interest Coverage Ratio (times) |
23 |
|
22 |
|
25 |
|
111 |
|
|
Return on Capital Employed % |
2,6% |
|
2,4% |
|
2,4% |
|
1,7% |
|
|
Return on Total Assets Employed % |
0,4% |
|
0,4% |
|
0,3% |
|
0,3% |
|
|
Interest on Debt % |
0,9% |
|
1,1% |
|
1,0% |
|
0,3% |
|
|
Risk Buffer % |
17,6% |
|
19,4% |
|
21,0% |
|
23,6% |
|
|
SHORT TERM LIQUIDITY |
|||||||
|
|
Liquidity Ratio/Acid Test |
0 |
|
0 |
|
0 |
|
0 |
|
|
Current Ratio % |
120,0% |
|
116,0% |
|
113,0% |
|
116,0% |
|
|
Debtor Days |
36 |
|
35 |
|
38 |
|
45 |
|
|
Working capital |
1.232.510 |
|
1.177.513 |
|
1.123.982 |
|
1.068.014 |
|
|
LONG TERM LIQUIDITY |
|||||||
|
|
Equity Ratio % |
16,3% |
|
14,2% |
|
12,6% |
|
15,6% |
|
|
Gearing % |
3,6% |
|
3,6% |
|
3,6% |
|
3,5% |
|
|
Current Debt Ratio |
5 |
|
6 |
|
7 |
|
5 |
|
|
Total Debt Ratio |
5 |
|
6 |
|
7 |
|
5 |
|
|
Relative debt % |
26,6% |
|
27,6% |
|
31,7% |
|
28,8% |
|
|
BUSINESS MEASURES |
|||||||
|
|
Change in turnover % |
-11,4% |
|
0,7% |
|
16,6% |
|
- |
|
|
Turnover/employees |
724633 |
|
793782 |
|
787974 |
|
696349 |
|
|
Sales/Net Working Capital |
19 |
|
23 |
|
24 |
|
22 |
|
|
Stock Turnover Ratio % |
21,5% |
|
21,8% |
|
24,6% |
|
20,3% |
|
|
Creditor Days |
23 |
|
24 |
|
32 |
|
30 |
|
|
Equity in Percentage % |
16,4% |
|
14,3% |
|
12,8% |
|
16,0% |
N/A
Registrations in
Force
|
|
State |
Registration Date |
|
Tax Administration |
Registered |
25.11.1997 |
|
Trade Register |
Registered |
14.11.1997 |
|
Employer Register |
Registered |
01.01.1998 |
|
Prepayment Register |
Registered |
01.01.1998 |
|
Value Added Tax-Liability |
VAT-liable for business activity |
01.01.1998 |
N/A
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
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.