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|
MIRA INFORM REPORT
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Report No. : |
484980 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
OY PARLOK AB |
|
|
|
|
Registered Office : |
Sysilahden Teollisuusalue 5, 21600 Parainen |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
December, 2016 |
|
|
|
|
Date of Incorporation : |
01.05.1985 |
|
|
|
|
Com. Reg. No.: |
06168277 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of other parts and accessories for motor vehicles. |
|
|
|
|
No. of Employees : |
45 (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 |
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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) |
|
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 2015, posting a 0.3% GDP increase before growing 1.4% in 2016.
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 |
Oy Parlok Ab |
|
Country |
FINLAND |
|
Company Registration Number |
06168277 |
|
Activity Code |
29320 |
|
Activity Description |
Manufacture of other
parts and accessories for motor vehicles |
|
Company Status |
Active (Active) |
|
Latest Turnover Figure |
7.758.317 EUR |
|
Latest Shareholder Equity Figure |
1.452.989 EUR |
Basic
Information
|
Business Name |
Oy Parlok Ab |
|
Registered Company Name |
Oy Parlok Ab |
|
Company Registration
Number |
06168277 |
|
Country |
FINLAND |
|
VAT Registration Number |
06168277 |
|
VAT Registration Date |
01/06/1994 |
|
Date of Company
Registration |
15/08/1985 |
|
Date of Starting
Operations |
01/05/1985 |
|
Legal Form |
Limited company |
|
Type of Ownership |
Private Finnish |
|
Company Status |
Active (Active) |
|
Currency of this Report |
EUR |
|
Principal Activity Code |
29320 |
|
Principal Activity
Description |
Manufacture of other
parts and accessories for motor vehicles |
|
Contact Address |
Sysilahden teollisuusalue
5, 21600 Parainen |
|
Contact Telephone Number |
+358 2 4542222 |
Main Address
|
Address Sysilahden teollisuusalue 5, 21600 Parainen |
|
Country FINLAND |
|
Telephone +358 2 4542222 |
Activities
|
Activity Code Activity Description |
|
29320 Manufacture of other parts and accessories for motor vehicles |
Email Addresses
|
No email addresses for
this company |
Web Pages
Employee Information
|
Year |
Number of Employees |
|
2016 |
45 |
|
2015 |
44 |
|
2014 |
42 |
|
2013 |
38 |
|
2012 |
36 |
|
2011 |
39 |
Advisors
|
Auditor Name Revico Grant Thornton Oy |
Miscellaneous Information
|
Fax Number +358 2 4589442 |
|
Number of places
of business 1 |
Auditor comment
|
Date of accounts Comments |
|
2016-12-30 The auditor has given an audit report of standard format. |
Additional names
|
Name Type |
Branches
|
Name |
|
No branches for current
company |
Business mortgages summary
|
Number of mortgages 13 |
|
Total amounts of mortgages 3826000 |
Business mortgages
|
First loan number |
Last loan number |
Number of bonds |
Amount of bonds |
Claimant/holder |
Date |
|
First loan number |
Last loan number |
Number of bonds |
Amount of bonds |
Claimant/holder |
Date |
|
001 |
|
1 |
400000 |
Nordea Pankki Suomi Oyj |
10/02/2010 |
|
002 |
|
1 |
400000 |
Nordea Pankki Suomi Oyj |
10/02/2010 |
|
001 |
|
1 |
252000 |
Helsingin Osakepankki |
10/02/1986 |
|
002 |
007 |
6 |
51000 |
Valtiontakauslaitos |
10/02/1986 |
|
008 |
|
1 |
93000 |
Postipankki Oy |
10/02/1986 |
|
009 |
|
1 |
84000 |
Valtiontakauslaitos |
13/11/1987 |
|
010 |
|
1 |
84000 |
Postipankki Oy |
13/11/1987 |
|
011 |
|
1 |
84000 |
Valtiontakauslaitos |
13/11/1987 |
|
012 |
|
1 |
126000 |
Postipankki Oy |
13/11/1987 |
|
001 |
|
1 |
500000 |
Nordea Pankki Suomi Oyj,
1733 Varsinais- Suomen yri |
28/09/2016 |
|
002 |
|
1 |
500000 |
Nordea Pankki Suomi Oyj,
1733 Varsinais- Suomen yri |
28/09/2016 |
|
003 |
|
1 |
500000 |
Nordea Pankki Suomi Oyj,
1733 Varsinais- Suomen yri |
28/09/2016 |
|
004 |
|
1 |
500000 |
Nordea Pankki Suomi Oyj,
1733 Varsinais- Suomen yri |
28/09/2016 |
Import export activities
|
Import Export |
|
Yes Yes |
Register Information
|
Tax administration |
15/08/1985 |
|
Trade register |
15/08/1985 |
|
Employer register |
01/08/1986 |
|
Prepayment register |
28/02/2018 |
|
Date of latest chagne in trade register |
05/07/2017 |
|
01/06/1994 |
|
financial
|
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 |
7.758.317 |
9.3% |
7.096.000 |
11.8% |
6.344.594 |
|
Operating Costs |
7.096.425 |
5.7% |
6.711.000 |
12.5% |
5.964.538 |
|
Operating Profit |
661.892 |
71.9% |
385.000 |
1.3% |
380.056 |
|
Wages & Salaries |
1.716.398 |
-1.5% |
1.742.000 |
2.8% |
1.695.094 |
|
Pension Costs |
386.761 |
1.0% |
383.000 |
8.3% |
353.602 |
|
Depreciation |
368.544 |
7.4% |
343.000 |
7.6% |
318.636 |
|
Financial Income |
150 |
- |
- |
- |
- |
|
Financial Expenses |
32.744 |
16.9% |
28.000 |
-34.4% |
42.710 |
|
Profit before Tax |
629.297 |
76.3% |
357.000 |
5.8% |
337.345 |
|
Tax |
137.624 |
1,429.2% |
9.000 |
- |
- |
|
Profit after Tax |
491.673 |
41.3% |
348.000 |
3.2% |
337.345 |
|
Other Appropriations |
43.219 |
-60.0% |
108.000 |
- |
- |
|
Retained Profit |
448.453 |
86.1% |
241.000 |
-28.6% |
337.345 |
|
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 |
600.890 |
-7.8% |
652.000 |
-7.8% |
706.799 |
|
Plant & Machinery |
647.308 |
-4.1% |
675.000 |
32.9% |
508.071 |
|
Other Tangible Assets |
37.543 |
108.6% |
18.000 |
- |
- |
|
Total Tangible Assets |
1.285.741 |
-4.4% |
1.345.000 |
10.7% |
1.214.870 |
|
Goodwill |
- |
- |
- |
- |
- |
|
Other Intangible Assets |
383.920 |
-17.6% |
466.000 |
-17.1% |
562.064 |
|
Total Intangible Assets |
383.920 |
-17.6% |
466.000 |
-17.1% |
562.064 |
|
Investments |
102.602 |
4.7% |
98.000 |
42.5% |
68.779 |
|
Loans To Group |
- |
- |
- |
- |
- |
|
Total Other Fixed Assets |
- |
- |
- |
- |
- |
|
TOTAL FIXED ASSETS |
1.772.263 |
-7.2% |
1.909.000 |
3.4% |
1.845.713 |
|
Raw Materials |
192.152 |
-18.9% |
237.000 |
29.0% |
183.697 |
|
Finished Goods |
230.768 |
-9.5% |
255.000 |
-27.0% |
349.316 |
|
Other Inventories |
- |
- |
- |
- |
- |
|
Total Inventories |
422.920 |
-14.0% |
492.000 |
-7.7% |
533.013 |
|
Trade Receivables |
791.048 |
15.5% |
685.000 |
4.7% |
654.183 |
|
Group Receivables |
- |
- |
- |
- |
- |
|
Receivables Due After 1 Year |
- |
- |
- |
- |
- |
|
Miscellaneous Receivables |
124.855 |
-22.0% |
160.000 |
-6.4% |
170.910 |
|
Total Receivables |
915.903 |
8.4% |
845.000 |
2.4% |
825.093 |
|
Cash |
315.540 |
1,560.7% |
19.000 |
-84.6% |
123.628 |
|
Other Current Assets |
- |
- |
- |
- |
- |
|
TOTAL CURRENT ASSETS |
1.654.363 |
22.0% |
1.356.000 |
-8.5% |
1.481.734 |
|
TOTAL ASSETS |
3.426.626 |
5.0% |
3.265.000 |
-1.9% |
3.327.447 |
|
Trade Payables |
384.611 |
-25.5% |
516.000 |
5.6% |
488.597 |
|
Bank Liabilities |
399.999 |
189.9% |
138.000 |
-21.1% |
175.000 |
|
Other Loans Or Finance |
62.125 |
-7.3% |
67.000 |
-58.8% |
162.464 |
|
Group Payables |
- |
- |
- |
- |
- |
|
Miscellaneous Liabilities |
331.902 |
28.6% |
258.000 |
-5.1% |
271.898 |
|
TOTAL CURRENT LIABILITIES |
1.178.637 |
20.4% |
979.000 |
-10.8% |
1.097.959 |
|
Trade Payables Due After 1 Year |
- |
- |
- |
- |
- |
|
Bank Liabilities Due After 1 Year |
795.000 |
430.0% |
150.000 |
-47.8% |
287.500 |
|
Other Loans Or Finance Due After 1 Year |
- |
- |
- |
- |
- |
|
Group Payables Due After 1 Year |
- |
- |
- |
- |
- |
|
Miscellaneous Liabilities Due After 1 Year |
151.079 |
39.9% |
108.000 |
- |
- |
|
TOTAL LONG TERM LIABILITIES |
946.079 |
266.7% |
258.000 |
-10.3% |
287.500 |
|
TOTAL LIABILITIES |
2.124.716 |
71.8% |
1.237.000 |
-10.7% |
1.385.459 |
|
Called Up Share Capital |
502.500 |
-0.1% |
503.000 |
0.1% |
502.500 |
|
Revenue Reserves |
799.410 |
-47.6% |
1.525.000 |
5.9% |
1.439.491 |
|
Other Reserves |
- |
- |
- |
- |
- |
|
TOTAL SHAREHOLDERS EQUITY |
1.301.910 |
-35.8% |
2.028.000 |
4.4% |
1.941.991 |
Other Financials
|
Financial Year |
12/2016 |
(%) |
12/2015 |
(%) |
12/2014 |
|
Working Capital |
475.726 |
26.2% |
377.000 |
-1.8% |
383.775 |
|
Net Worth |
917.990 |
-41.2% |
1.562.000 |
13.2% |
1.379.927 |
Ratios
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
8.11 % |
5.03 % |
5.32 % |
|
Return On Capital Employed (%) |
27.99 % |
15.62 % |
15.13 % |
|
Return On Total Assets Employed (%) |
18.36 % |
10.93 % |
10.14 % |
|
Return On Net Assets Employed (%) |
48.34 % |
17.60 % |
17.37 % |
|
Sales/Net Working Capital |
16.31 |
18.82 |
16.53 |
|
Stock Turnover Ratio (%) |
5.45 % |
6.93 % |
8.40 % |
|
Debtor Days |
37.22 |
35.23 |
37.63 |
|
Creditor Days |
18.09 |
26.54 |
28.11 |
|
Current Ratio |
1.40 |
1.39 |
1.35 |
|
Liquidity Ratio/Acid Test |
1.04 |
0.88 |
0.86 |
|
Current Debt Ratio |
0.91 |
0.48 |
0.57 |
|
Gearing (%) |
103.39 % |
19.53 % |
23.82 % |
|
Equity In Percentage (%) |
42.79 % |
72.45 % |
70.23 % |
|
Total Debt Ratio |
1.63 |
0.61 |
0.71 |
Additional financials
|
Financial Year |
12/2016 |
|
12/2015 |
|
12/2014 |
|
Bonds and notes - short terms |
- |
|
- |
|
- |
|
Bonds and notes - long terms |
- |
|
- |
|
- |
|
Gross revenue |
4.798.504 |
8.9% |
4.405.000 |
5.8% |
4.162.518 |
|
Operating margin ratio |
13.20 |
|
10.10 |
|
10.70 |
|
Working capital ratio |
10.70 |
|
9.30 |
|
11.00 |
|
Networking capital percentage |
6.10 |
|
5.30 |
|
6.00 |
|
Net gearing |
0.60 |
|
0.20 |
|
0.30 |
|
Equity ratio |
42.40 |
|
65.40 |
|
59.60 |
|
Operating income percentage |
8.50 |
|
5.40 |
|
5.80 |
|
Relative indebtedness |
25.40 |
|
15.90 |
|
21.80 |
|
Turnover per person |
172.407 |
|
161.273 |
|
151.062 |
|
Financing result percentage |
11.00 |
|
9.60 |
|
10.10 |
Share Capital Structure
|
Nominal Share Capital 502.500 EUR |
|
Issued Share Capital 502.500 EUR |
Shareholders
|
No shareholders data for
this company. |
Current Directors
|
Name |
Date of birth |
City |
Appointment Date |
Position |
|
Salminen Jari Antero |
02/04/1978 |
Lieto |
07/10/2016 |
Managing director |
|
Salminen Jarno Tapani |
21/04/1974 |
Laitila |
05/07/2017 |
Chairman |
|
Jakobsson Nicklas Carl
Mikael |
08/02/1969 |
Parainen |
22/05/2017 |
Ordinary member |
|
Laine Siv Viola |
06/05/1961 |
Parainen |
12/03/2010 |
Ordinary member |
|
Noramaa Antti-Jussi
Matias |
04/10/1970 |
Kaarina |
07/10/2016 |
Ordinary member |
|
Salminen Jari Antero |
02/04/1978 |
Lieto |
12/03/2010 |
Ordinary member |
|
Viitanen Topi-Matti |
06/08/1977 |
Laitila |
22/05/2017 |
Ordinary member |
Previous Directors
|
Name |
Date of birth |
City |
Appointment Date |
Position |
Resignation Date |
|
Herrgård Stig Erik |
15/12/1948 |
Kaarina |
19/05/2011 |
Chairman |
04/07/2017 |
Other Company Officials
|
Name |
City |
Appointment Date |
Position |
|
Rehn Joakim Kristoffer |
Kauniainen |
|
Princ. resp. auditor of
acc. corp. |
Immediate Holding Parent
|
Immediate Holding Company Name |
|
No information for this
company. |
Subsidiary Companies
|
Subsidiary Name |
|
|
Parlok (UK) Ltd |
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 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
|
EURO |
1 |
INR 76.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
POJ |
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.