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MIRA INFORM REPORT
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Report No. : |
484017 |
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Report Date : |
05.01.2018 |
IDENTIFICATION DETAILS
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Name : |
KORAB INTERNATIONAL
AKTIEBOLAG |
|
|
|
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Registered Office : |
Sodra Hamngatan 53,41106
Goteborg, Vastra Gotaland |
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Country : |
Sweden |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
16.12.1998 |
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Com. Reg. No.: |
5565640397 |
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|
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Legal Form : |
Limited liability company |
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|
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Line of Business : |
·
Wholesale of other intermediate
products n.e.c. · Agents specialised in the sale of other particular products |
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|
|
|
No. of Employees : |
20 [2016] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
Sweden |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SWEDEN - ECONOMIC OVERVIEW
Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade.
Sweden’s economy experienced modest growth in 2014-16, with real GDP growth above 2%, but continues to struggle with deflationary pressure.
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Source : CIA |
Company
name
Korab International Aktiebolag
Company
Summary
|
Business Name |
Korab International Aktiebolag |
|
Country |
SWEDEN |
|
Company Registration Number |
5565640397 |
|
Activity Code |
46769 |
|
Activity Description |
Wholesale of other intermediate products n.e.c. |
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Company Status |
Active (Active) |
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Latest Turnover Figure |
2.204.783.000 SEK |
|
Latest Shareholder Equity Figure |
49.700.000 SEK |
Basic
Information
|
Business Name |
Korab International Aktiebolag |
|
Registered Company Name |
Korab International Aktiebolag |
|
Company Registration Number |
5565640397 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556564039701 |
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Date of Company Registration |
16/12/1998 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active (Active) |
|
Currency of this Report |
SEK |
|
Principal Activity Code |
No code |
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Contact Address |
Sodra Hamngatan 53,41106 GOTEBORG, VASTRA GOTALAND |
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Contact Telephone Number |
072-0680627 |
Main
Address
|
Address |
Sodra Hamngatan 53,41106 GOTEBORG, VASTRA GOTALAND |
|
Country |
SWEDEN |
|
Telephone |
072-0680627 |
Activities
|
Activity Code |
Activity Description |
|
46769 |
Wholesale of other intermediate products n.e.c. |
|
46180 |
Agents specialised in the sale of other particular products |
No email addresses for this company
Web Pages
Employee
Information
|
Year |
Number of Employees |
|
2016 |
20 |
|
2015 |
19 |
|
2014 |
19 |
|
2013 |
17 |
|
2012 |
14 |
Advisors
|
Auditor Name |
Nils Thomas Siesing |
Tax
Registrations
|
Registered for FTax |
Yes |
|
Registered for VAT |
Yes |
|
Registered for Employee Tax |
Yes |
Certificates
No certificate information for this company
Industry
Comparison
|
Activity Code |
46769 |
|
Activity Description |
Wholesale of other intermediate products n.e.c. |
Event
History
|
Event Date |
Event Description |
|
03/09/2017 |
Company representatives, changed |
|
03/09/2017 |
Authorised signatories amended or new/amended vacancy text |
|
26/07/2017 |
Group Structure Change |
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17/07/2017 |
Group annual accout, new |
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17/07/2017 |
Annual account, new |
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10/07/2017 |
Annual report, new |
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03/07/2017 |
Group Structure Change |
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11/04/2017 |
Authorised signatories amended or new/amended vacancy text |
|
11/04/2017 |
Company representatives, changed |
|
28/02/2017 |
Phone number, changed |
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14/02/2017 |
Authorised signatories amended or new/amended vacancy text |
|
14/02/2017 |
Company representatives, changed |
|
03/08/2016 |
Group Structure Change |
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25/07/2016 |
Group annual accout, new |
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25/07/2016 |
Annual account, new |
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18/07/2016 |
Annual report, new |
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26/05/2016 |
Company representatives, changed |
|
26/05/2016 |
Authorised signatories amended or new/amended vacancy text |
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02/10/2015 |
Group Structure Change |
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28/07/2015 |
Group Structure Change |
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15/07/2015 |
Group annual accout, new |
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15/07/2015 |
Annual account, new |
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08/07/2015 |
Company representatives, changed |
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07/07/2015 |
Annual report, new |
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15/07/2014 |
Group Structure Change |
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03/07/2014 |
Group annual accout, new |
|
03/07/2014 |
Annual account, new |
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27/06/2014 |
Annual report, new |
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17/06/2014 |
Group Structure Change |
|
16/06/2014 |
Group Structure Change |
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19/11/2013 |
Group Structure Change |
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20/09/2013 |
Group Structure Change |
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06/09/2013 |
Group annual accout, new |
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06/09/2013 |
Annual account, new |
|
07/08/2013 |
Company representatives, changed |
|
07/08/2013 |
Authorised signatories amended or new/amended vacancy text |
|
06/08/2013 |
Annual report, new |
Status History
No status history events for this company
Financials
|
Profit and Loss |
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
No |
No |
No |
|
Revenue |
2.207.355.000 |
2.996.209.000 |
2.490.710.000 |
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Operating Costs |
2.200.218.000 |
2.986.406.000 |
2.478.129.000 |
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Operating Profit |
7.137.000 |
9.803.000 |
12.581.000 |
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Wages & Salaries |
18.107.000 |
18.150.000 |
17.304.000 |
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Depreciation |
152.000 |
137.000 |
224.000 |
|
Financial Income |
1.070.000 |
1.135.000 |
1.748.000 |
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Financial Expenses |
4.191.000 |
4.324.000 |
3.450.000 |
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Extraordinary Income |
- |
- |
- |
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Extraordinary Costs |
- |
- |
- |
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Profit before Tax |
11.671.000 |
11.714.000 |
11.797.000 |
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Tax |
946.000 |
1.570.000 |
1.866.000 |
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Profit after Tax |
10.725.000 |
10.144.000 |
9.931.000 |
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Minority Interests |
- |
- |
- |
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Other Appropriations |
- |
- |
905.000 |
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Retained Profit |
10.725.000 |
10.144.000 |
10.836.000 |
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Balance Sheet |
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|
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
No |
No |
No |
|
Land & Buildings |
- |
- |
- |
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Plant & Machinery |
- |
- |
- |
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Other Tangible Assets |
566.000 |
361.000 |
445.000 |
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Total Tangible Assets |
566.000 |
361.000 |
445.000 |
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Goodwill |
- |
- |
- |
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Other Intangible Assets |
- |
- |
- |
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Total Intangible Assets |
- |
- |
- |
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Loans To Group |
- |
- |
- |
|
Other Loans |
- |
- |
- |
|
Miscellaneous Fixed Assets |
2.466.000 |
2.466.000 |
2.925.000 |
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Total Other Fixed Assets |
2.466.000 |
2.466.000 |
2.925.000 |
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TOTAL FIXED ASSETS |
3.032.000 |
2.827.000 |
3.370.000 |
|
Work In Progress |
- |
- |
- |
|
Other Inventories |
14.777.000 |
12.550.000 |
42.641.000 |
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Total Inventories |
14.777.000 |
12.550.000 |
42.641.000 |
|
Trade Receivables |
436.233.000 |
545.068.000 |
434.392.000 |
|
Group Receivables |
38.490.000 |
53.133.000 |
33.518.000 |
|
Miscellaneous Receivables |
14.193.000 |
39.948.000 |
46.225.000 |
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Total Receivables |
488.916.000 |
638.149.000 |
514.135.000 |
|
Cash |
11.973.000 |
9.898.000 |
25.118.000 |
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Other Current Assets |
- |
- |
- |
|
TOTAL CURRENT ASSETS |
515.666.000 |
660.598.000 |
581.894.000 |
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TOTAL ASSETS |
518.698.000 |
663.424.000 |
585.264.000 |
|
Trade Payables |
185.101.000 |
25.786.000 |
221.797.000 |
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Bank Liabilities |
259.860.000 |
318.549.000 |
271.538.000 |
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Group Payables |
4.168.000 |
6.024.000 |
15.270.000 |
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Miscellaneous Liabilities |
18.524.000 |
265.245.000 |
33.983.000 |
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TOTAL CURRENT LIABILITIES |
467.653.000 |
615.604.000 |
542.588.000 |
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Bank Liabilities Due After 1 Year |
- |
- |
- |
|
Other Loans Or Finance Due After 1 Year |
- |
- |
- |
|
Group Payables Due After 1 Year |
- |
- |
- |
|
Miscellaneous Liabilities Due After 1 Year |
1.345.000 |
1.345.000 |
1.345.000 |
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TOTAL LONG TERM LIABILITIES |
1.345.000 |
1.345.000 |
1.345.000 |
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TOTAL LIABILITIES |
468.998.000 |
616.949.000 |
543.933.000 |
|
Called Up Share Capital |
16.000.000 |
16.000.000 |
16.000.000 |
|
Share Premium |
- |
- |
- |
|
Revenue Reserves |
33.700.000 |
30.475.000 |
25.331.000 |
|
Other Reserves |
- |
- |
- |
|
TOTAL SHAREHOLDERS EQUITY |
49.700.000 |
46.475.000 |
41.331.000 |
|
Other Financials |
|
|
|
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Contingent Liabilities |
- |
- |
- |
|
Working Capital |
48.013.000 |
44.994.000 |
39.306.000 |
|
Net Worth |
49.700.000 |
46.475.000 |
41.331.000 |
|
Ratios |
|
|
|
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
0.53
% |
0.39
% |
0.47
% |
|
Return On Capital Employed (%) |
1.18
% |
0.92
% |
1.05
% |
|
Return On Total Assets Employed (%) |
2.25
% |
1.77
% |
2.02
% |
|
Return On Net Assets Employed (%) |
23.48
% |
25.20
% |
28.54
% |
|
Sales/Net Working Capital |
45.97 |
66.59 |
63.37 |
|
Stock Turnover Ratio (%) |
0.67
% |
0.42
% |
1.71
% |
|
Debtor Days |
72.13 |
66.40 |
63.66 |
|
Creditor Days |
30.61 |
3.14 |
32.50 |
|
Current Ratio |
1.10 |
1.07 |
1.07 |
|
Liquidity Ratio/Acid Test |
1.07 |
1.05 |
0.99 |
|
Current Debt Ratio |
9.41 |
13.25 |
13.13 |
|
Gearing (%) |
522.86
% |
685.42
% |
656.98
% |
|
Equity In Percentage (%) |
9.63
% |
7.03
% |
7.10
% |
|
Total Debt Ratio |
9.44 |
13.27 |
13.16 |
|
Additional Financials Items |
|
|
|
|
Year End Date |
2016 |
2015 |
2014 |
|
Audited Accounts |
Yes |
Yes |
Yes |
|
Auditor Comments |
- |
- |
- |
Share
Capital Structure
|
Issued Share Capital |
16.000.000 SEK |
No shareholders data for this company.
Current
Directors
|
Name |
Appointment Date |
Position |
|
Mario Kornfilt |
31/10/2003 |
Chairman of Board |
|
Alf Peter Ljungsvik |
13/02/2017 |
Managing Director |
|
Mark Kornfilt |
06/08/2013 |
Actual Member of Board |
Previous
Directors
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Bengt Gote Ahlgren |
25/02/1999 |
Actual Member of Board |
01/09/2017 |
|
Par Tore Christian Horberg |
25/02/1999 |
Actual Member of Board |
13/02/2017 |
|
Anders Olov Esbjorn Ahlenius |
24/03/2009 |
Actual Member of Board |
25/05/2016 |
Group Structure
Company Name Number Safe Number Status Latest Annual
Accounts
[0] Korab
International Aktiebolag 5565640397 SE00962120 31/12/2016
1 Cell Fiber International CFI AB 5566229679 SE01017129 31/12/2016
2
Marshland Properties Sarl -
1Korab Delaware -
1Korab International Kagit Dis Tic S.A -
0] KorCo AB 5564283264 SE00836388 31/12/2016
Negative
Information
|
Debt Balance |
|
|
No Debt Balance for this company. |
|
|
Record of Non Payment |
|
|
Number Of Distraint Or Repossessions |
0 |
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Number Of Public Claims |
0 |
|
Number Of Private Claims |
0 |
|
Number Of Applications |
0 |
|
Number Of Revoked Applications |
0 |
|
Latest Public Claim |
|
|
No Latest Public Claim for this company. |
|
|
Latest Private Claim |
|
|
No Latest Private Claim for this company. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
|
SEK |
1 |
INR 7.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.