|
|
|
MIRA INFORM REPORT
|
Report No. : |
491921 |
|
Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LUVATA PORI OY |
|
|
|
|
Registered Office : |
Kuparitie 5, 28330 Pori |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
December 2016 |
|
|
|
|
Date of Incorporation : |
25.05.1988 |
|
|
|
|
Com. Reg. No.: |
07095540 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Copper production |
|
|
|
|
No. of Employees : |
352 (2016) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Finland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
FINLAND - ECONOMIC
OVERVIEW
Finland has a highly industrialized, largely free-market economy with per capita GDP almost as high as that of Austria and the Netherlands and slightly above that of Germany and Belgium. Trade is important, with exports accounting for over one-third of GDP in recent years. The government is open to, and actively takes steps to attract, foreign direct investment.
Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology as well as promotion of startups in the information and communications technology, 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 cold climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export industry, 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, causing Finland’s economy to contract from 2012 to 2014. The recession affected general government finances and the debt ratio. The economy returned to growth in 2016, posting a 1.9% GDP increase before growing 2.8% in 2017.
Finland's main challenges will be reducing high labor costs and boosting demand for its exports. In June 2016, the government enacted a Competitiveness Pact aimed at reducing labor costs, increasing hours worked, and introducing more flexibility into the wage bargaining system. The Government was also seeking to reform the health care system and social services. In the long 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
Summary
|
Business Name |
Luvata Pori Oy |
|
Country |
FINLAND |
|
Company Registration Number |
07095540 |
|
Activity Code |
24440 |
|
Activity Description |
Copper production |
|
Company Status |
Active (Active) |
|
Latest Turnover Figure |
165,138,000 EUR |
|
Latest Shareholder Equity Figure |
36,412,000 EUR |
Basic
Information
|
Business Name |
Luvata Pori Oy |
|
Registered Company Name |
Luvata Pori Oy |
|
Company Registration Number |
07095540 |
|
Country |
FINLAND |
|
VAT Registration Number |
07095540 |
|
VAT Registration Date |
01/06/1994 |
|
Date of Company Registration |
25/05/1988 |
|
Date of Starting Operations |
01/01/1989 |
|
Legal Form |
Limited company |
|
Type of Ownership |
Foreign owner |
|
Company Status |
Active (Active) |
|
Currency of this Report |
EUR |
|
Principal Activity Code |
24440 |
|
Principal Activity Description |
Copper production |
|
Contact Address |
Kuparitie 5, 28330 Pori |
|
Contact Telephone Number |
+358 2 6266111 |
Main
Address
|
Address |
Kuparitie 5, 28330 Pori |
|
Country |
FINLAND |
|
Telephone |
+358 2 6266111 |
Activities
|
Activity Code |
Activity Description |
|
24440 |
Copper production |
Email
Addresses
info.pori@luvata.com
Web
Pages
www.luvata.com
Employee
Information
|
Year |
Number of Employees |
|
2016 |
352 |
|
2015 |
342 |
|
2014 |
338 |
|
2013 |
339 |
|
2012 |
349 |
|
2011 |
483 |
Advisors
|
Auditor Name |
KPMG Oy Ab |
Miscellaneous
Information
|
Fax Number |
+358 2 6265300 |
|
Number of places of business |
2 |
Auditor
comment
|
Date of accounts |
Comments |
|
2016-12-30 |
The auditor has given an audit report of standard format. |
Additional
names
|
Name |
Type |
|
Luvata Vaasa |
Auxiliary business name |
|
Luvata Pori Ltd. |
Parallel business name |
|
Outokumpu Poricopper Ltd |
Parallel business name |
Branches
Name
No branches for current company
Business
mortgages summary
|
Number of mortgages |
2 |
|
Total amounts of mortgages |
150000000 |
Business
mortgages
|
First loan number |
Last loan number |
Number of bonds |
Amount of bonds |
Claimant/holder |
Date |
|
001 |
|
1 |
75000000 |
Nordea Pankki Suomi Oyj |
07/06/2005 |
|
002 |
|
1 |
75000000 |
Nordea Pankki Suomi Oyj |
07/06/2005 |
Import
export activities
|
Import |
Export |
|
Yes |
Yes |
Register
Information
|
Tax administration |
25/05/1988 |
|
Trade register |
25/05/1988 |
|
Employer register |
01/01/1989 |
|
Prepayment register |
28/02/2018 |
|
Date of latest chagne in trade register |
01/06/2017 |
|
|
01/06/1994 |
Profit
and Loss
|
Financial Year |
12/2016 |
(%) |
12/2015 |
(%) |
12/2014 |
|
Number of Weeks |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated Accounts |
No |
(%) |
No |
(%) |
No |
|
Revenue |
165,138,000 |
-14.4% |
193,028,000 |
4.5% |
184,730,000 |
|
Operating Costs |
157,225,000 |
-17.6% |
190,796,000 |
5.2% |
181,407,000 |
|
Operating Profit |
7,913,000 |
254.5% |
2,232,000 |
-32.8% |
3,323,000 |
|
Pension Costs |
- |
- |
- |
- |
- |
|
Financial Income |
3,000 |
- |
- |
-100.0% |
9,456 |
|
Financial Expenses |
2,102,000 |
-26.5% |
2,859,000 |
-16.9% |
3,441,224 |
|
Extraordinary Income |
- |
- |
12,376,000 |
|
|
|
Profit before Tax |
5,815,000 |
1,027.4% |
-627,000 |
-105.1% |
12,268,000 |
|
Tax |
803,000 |
792.2% |
90,000 |
1,025.0% |
8,000 |
|
Profit after Tax |
5,012,000 |
799.0% |
-717,000 |
-105.8% |
12,260,000 |
|
Other Appropriations |
854,000 |
166.0% |
321,000 |
-75.0% |
1,283,000 |
|
Retained Profit |
4,159,000 |
500.7% |
-1,038,000 |
-109.5% |
10,977,000 |
Balance
Sheet
|
Financial Year |
12/2016 |
(%) |
12/2015 |
(%) |
12/2014 |
|
Number of Weeks |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated Accounts |
No |
(%) |
No |
(%) |
No |
|
Land & Buildings |
2,793,000 |
-14.5% |
3,266,000 |
-12.0% |
3,712,000 |
|
Plant & Machinery |
12,878,000 |
2.2% |
12,598,000 |
-8.3% |
13,739,000 |
|
Other Tangible Assets |
1,349,000 |
6.6% |
1,265,000 |
47.4% |
858,000 |
|
Total Tangible Assets |
17,020,000 |
-0.6% |
17,129,000 |
-6.4% |
18,309,000 |
|
Goodwill |
- |
- |
- |
- |
- |
|
Other Intangible Assets |
333,000 |
0.3% |
332,000 |
-17.2% |
401,000 |
|
Total Intangible Assets |
333,000 |
0.3% |
332,000 |
-17.2% |
401,000 |
|
Investments |
12,000 |
-29.4% |
17,000 |
-54.1% |
37,000 |
|
Loans To Group |
- |
- |
- |
- |
- |
|
Total Other Fixed Assets |
- |
- |
- |
- |
- |
|
TOTAL FIXED ASSETS |
17,365,000 |
-0.6% |
17,478,000 |
-6.8% |
18,747,000 |
|
Raw Materials |
11,426,000 |
32.3% |
8,637,000 |
1.3% |
8,528,000 |
|
Work In Progress |
18,725,000 |
33.8% |
13,996,000 |
-1.2% |
14,166,000 |
|
Finished Goods |
2,862,000 |
5.0% |
2,725,000 |
-23.6% |
3,565,000 |
|
Other Inventories |
- |
-100.0% |
5,000 |
-37.5% |
8,000 |
|
Total Inventories |
33,013,000 |
30.2% |
25,363,000 |
-3.4% |
26,267,000 |
|
Trade Receivables |
23,862,000 |
11.6% |
21,374,000 |
-1.4% |
21,677,000 |
|
Group Receivables |
- |
- |
- |
- |
- |
|
Receivables Due After 1 Year |
- |
- |
- |
- |
- |
|
Miscellaneous Receivables |
3,016,000 |
17.6% |
2,565,000 |
-5.2% |
2,707,000 |
|
Total Receivables |
26,878,000 |
12.3% |
23,939,000 |
-1.8% |
24,384,000 |
|
Cash |
- |
84,000 |
8,300.0% |
1,000 |
|
|
Other Current Assets |
- |
- |
- |
- |
- |
|
TOTAL CURRENT ASSETS |
59,891,000 |
21.3% |
49,386,000 |
-2.5% |
50,652,000 |
|
TOTAL ASSETS |
77,256,000 |
15.5% |
66,864,000 |
-3.7% |
69,399,000 |
|
Trade Payables |
8,023,000 |
56.0% |
5,142,000 |
1.1% |
5,086,000 |
|
Bank Liabilities |
24,641,000 |
30.0% |
18,951,000 |
- |
- |
|
Other Loans Or Finance |
49,000 |
104.2% |
24,000 |
-99.9% |
16,986,000 |
|
Group Payables |
- |
- |
- |
- |
- |
|
Miscellaneous Liabilities |
8,131,000 |
-5.2% |
8,575,000 |
11.8% |
7,670,000 |
|
TOTAL CURRENT LIABILITIES |
40,844,000 |
24.9% |
32,692,000 |
9.9% |
29,742,000 |
|
Trade Payables Due After 1 Year |
- |
- |
- |
- |
- |
|
Other Loans Or Finance Due After 1 |
- |
-100.0% |
2,773,000 |
- |
- |
|
Year |
|
|
|
|
|
|
Group Payables Due After 1 Year |
- |
- |
- |
-100.0% |
7,526,903 |
|
Miscellaneous Liabilities Due After 1 |
6,002,000 |
16.6% |
5,149,000 |
6.3% |
4,842,000 |
|
Year |
|
|
|
|
|
|
TOTAL LONG TERM LIABILITIES |
6,002,000 |
-24.2% |
7,922,000 |
-36.0% |
12,368,903 |
|
TOTAL LIABILITIES |
46,846,000 |
15.3% |
40,614,000 |
-3.6% |
42,110,903 |
|
Called Up Share Capital |
16,819,000 |
0.0% |
16,819,000 |
0.0% |
16,819,000 |
|
Share Premium |
3,364,000 |
3,364,000 |
3,364,000 |
|
|
|
Revenue Reserves |
10,227,000 |
68.5% |
6,068,000 |
-14.6% |
7,106,000 |
|
Other Reserves |
- |
- |
- |
- |
- |
|
TOTAL SHAREHOLDERS EQUITY |
30,410,000 |
15.8% |
26,251,000 |
-3.8% |
27,289,000 |
Other
Financials
|
Financial Year |
12/2016 |
(%) |
12/2015 |
(%) |
12/2014 |
|
Working Capital |
19,047,000 |
14.1% |
16,694,000 |
-20.2% |
20,910,000 |
|
Net Worth |
30,077,000 |
16.0% |
25,919,000 |
-3.6% |
26,888,000 |
Ratios
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
3.52 % |
-0.32 % |
6.64 % |
|
Return On Capital Employed (%) |
15.97 % |
-1.83 % |
30.93 % |
|
Return On Total Assets Employed (%) |
7.53 % |
-0.94 % |
17.68 % |
|
Return On Net Assets Employed (%) |
19.12 % |
-2.39 % |
44.96 % |
|
Sales/Net Working Capital |
8.67 |
11.56 |
8.83 |
|
Stock Turnover Ratio (%) |
19.99 % |
13.14 % |
14.22 % |
|
Debtor Days |
52.74 |
40.42 |
42.83 |
|
Creditor Days |
17.73 |
9.72 |
10.05 |
|
Current Ratio |
1.47 |
1.51 |
1.70 |
|
Liquidity Ratio/Acid Test |
0.66 |
0.73 |
0.82 |
|
Current Debt Ratio |
1.34 |
1.25 |
1.09 |
|
Gearing (%) |
100.77
% |
102.37
% |
45.33 % |
|
Equity In Percentage (%) |
39.53 % |
39.46 % |
39.55 % |
|
Total Debt Ratio |
1.54 |
1.55 |
1.54 |
Additional
financials
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Bonds and notes - short terms |
- |
- |
- |
|
Bonds and notes - long terms |
- |
- |
- |
|
Gross revenue |
16,818,000 |
- |
- |
|
Operating margin ratio |
|
|
|
|
Working capital ratio |
29.00 |
20.80 |
22.50 |
|
Networking capital percentage |
11.50 |
8.60 |
11.30 |
|
Net gearing |
0.70 |
0.70 |
0.80 |
|
Equity ratio |
47.70 |
48.00 |
47.20 |
|
Operating income percentage |
4.80 |
1.20 |
1.80 |
|
Relative indebtedness |
24.20 |
17.60 |
19.50 |
|
Turnover per person |
469,142 |
564,409 |
546,538 |
|
Financing result percentage |
|
|
|
|
Number of shares |
10,000,000 |
|
|
Share
Capital Structure
|
Nominal Share Capital |
16,818,793 EUR |
|
Issued Share Capital |
16,818,793 EUR |
Shareholders
|
Shareholder |
% Shares Held |
|
MMC Copper Products Oy |
100 |
Current
Directors
|
Name |
Date of birth |
City |
Appointment Date
Position |
|
|
Helavirta Jussi Olavi |
19/11/1957 |
Ulvila |
31/03/2000 |
Managing director |
|
Kleemola Pekka Kalle Juhani |
25/09/1980 |
Kokemäki |
01/06/2017 |
Chairman |
|
Helavirta Jussi Olavi |
19/11/1957 |
Ulvila |
02/06/2000 |
Ordinary member |
|
Juusela Mikko Juhani |
06/04/1969 |
Pori |
14/12/2010 |
Ordinary member |
|
Lehtonen Antti-Jussi |
26/04/1971 |
Pori |
07/08/2013 |
Ordinary member |
|
Vihermaa Kai Antero |
11/07/1971 |
Pori |
01/06/2017 |
Ordinary member |
|
Jussila Jari Tapani |
26/06/1972 |
Pori |
01/06/2017 |
Deputy member |
|
Korvenkangas Tuomas Alfred |
15/05/1984 |
Pori |
01/06/2017 |
Deputy member |
|
Levonen Jyrki Tapio |
31/03/1958 |
Pori |
07/08/2013 |
Deputy member |
Previous
Directors
|
Name |
Date of birth |
City |
Appointment |
Position |
Resignation Date |
|
|
|
|
Date |
|
|
|
Siltala Jyrki Lauri Taneli |
22/07/1958 |
Helsinki |
12/05/2006 |
Chairman |
31/05/2017 |
|
Hernesniemi Sarita Anneli |
01/04/1974 |
Ulvila |
05/06/2015 |
Ordinary member |
31/05/2017 |
|
Heiskala Marko Henrik |
30/09/1968 |
Ulvila |
07/08/2013 |
Deputy member |
31/05/2017 |
|
Vihermaa Kai Antero |
11/07/1971 |
Pori |
05/06/2015 |
Deputy member |
31/05/2017 |
Other
Company Officials
|
Name |
City |
Appointment Date |
Position |
|
Järvi Kim Johan |
Espoo |
24/05/2017 |
Princ. resp. auditor of acc. corp. |
|
Holmbom Karl Henrik |
Sipoo |
29/03/2017 |
Princ. resp. auditor of acc. corp. |
|
Salminen Pauli Seppo Sakari |
Vantaa |
14/12/2010 |
Princ. resp. auditor of acc. corp. |
Ultimate
Holding Parent
|
Ultimate Holding Company Name |
VAT/Registration Number |
|
Luvata Espoo -konserni |
07107521 |
Immediate
Holding Parent
Immediate Holding Company Name
No information for this company.
Subsidiary
Companies
|
Subsidiary Name |
Number |
|
Asunto Oy Porin Lehmustuuli |
01379817 |
|
Asunto Oy Porin Leppätuuli |
02043936 |
Affiliates
Affiliate Name
No affiliates for this company
Negative
Information
No negative information for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
|
Euro |
1 |
INR 64.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.