|
|
|
MIRA INFORM REPORT
|
Report No. : |
486318 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
NOREX INTERNATIONAL AKTIEBOLAG |
|
|
|
|
Registered Office : |
Box 8948, 40273 Göteborg |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
07.08.1991 |
|
|
|
|
Com. Reg. No.: |
5564304425 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of metals and metal ores |
|
|
|
|
No. of Employees : |
26
(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 : |
Excellent |
|
|
|
|
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) |
|
Sweden |
A1 |
A1 |
|
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 |
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.
|
Source
: CIA |
Company Summary
|
Business Name |
Norex
International Aktiebolag |
|
Country |
SWEDEN |
|
Company Registration Number |
5564304425 |
|
Activity Code |
46720 |
|
Activity Description |
Wholesale
of metals and metal ores |
|
Company Status |
Active
(Active) |
|
Latest Turnover Figure |
332.091.000
SEK |
|
Latest Shareholder Equity Figure |
89.441.000
SEK |
Basic Information
|
Business Name |
Norex International Aktiebolag |
|
Registered Company Name |
Norex International Aktiebolag |
|
Company Registration Number |
5564304425 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556430442501 |
|
Date
of Company Registration |
07/08/1991 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active (Active) |
|
Currency of this Report |
SEK |
|
Principal Activity Code |
No code |
|
Principal Activity Description |
- |
|
Contact Address |
Box 8948, 40273 GÖTEBORG |
|
Contact Telephone Number |
031-927570 |
Main Address
|
Address |
Box 8948,
40273 GÖTEBORG |
|
Country |
SWEDEN |
|
Telephone |
031-927570 |
Other Addresses
|
Address Country |
|
Högåsa Östra 3, 42363 SWEDEN |
Activities
|
Activity Code |
Activity Description |
|
46720 |
Wholesale of metals and metal ores |
Email Addresses
Web Pages
Employee Information
|
Year |
Number of Employees |
|
2016 |
26 |
|
2015 |
25 |
|
2014 |
22 |
|
2013 |
26 |
|
2012 |
29 |
Advisors
|
Auditor Name Maths Ola Niklas Larsson |
Tax Registrations
|
Registered for FTax |
Yes |
|
Registered for VAT |
Yes |
|
Registered for Employee Tax |
Yes |
Certificates
|
Type Category Issuer |
|
No
certificate information for this company |
Industry Comparison
|
Activity Code |
46720 |
|
Activity Description |
Wholesale
of metals and metal ores |
Event History
|
Event Date |
Event Description |
|
10/07/2017 |
Group
Structure Change |
|
07/07/2017 |
Group
Structure Change |
|
04/07/2017 |
Group
annual accout, new |
|
04/07/2017 |
Annual
account, new |
|
28/06/2017 |
Annual
report (PDF), new |
|
29/07/2016 |
Group
Structure Change |
|
20/07/2016 |
Group
annual accout, new |
|
20/07/2016 |
Limit,
increase |
|
20/07/2016 |
Annual
account, new |
|
18/07/2016 |
Group
Structure Change |
|
13/07/2016 |
Group
Structure Change |
|
13/07/2016 |
Annual
report (PDF), new |
|
19/02/2016 |
Group
Structure Change |
|
15/02/2016 |
Annual
account, new |
|
15/02/2016 |
Group
annual accout, new |
|
12/02/2016 |
Group Structure
Change |
|
09/02/2016 |
Group
annual accout, new |
|
09/02/2016 |
Annual
account, new |
|
08/02/2016 |
Annual
report (PDF), new |
|
04/02/2016 |
Annual
report (PDF), new |
|
30/09/2015 |
Group
Structure Change |
|
01/05/2015 |
Group
Structure Change |
|
28/04/2015 |
Annual
account, new |
|
28/04/2015 |
Group
annual accout, new |
|
22/04/2015 |
Annual
report (PDF), new |
|
04/02/2015 |
Authorised
signatories amended or new/amended vacancy text |
|
04/02/2015 |
Company
representatives, changed |
|
01/09/2014 |
Group
Structure Change |
|
12/08/2014 |
Group
annual accout, new |
|
12/08/2014 |
Annual
account, new |
|
06/08/2014 |
Annual
report (PDF), new |
|
23/07/2014 |
Group
Structure Change |
|
12/02/2014 |
Company
representatives, changed |
|
12/02/2014 |
Authorised
signatories amended or new/amended vacancy text |
|
03/01/2014 |
Authorised
signatories amended or new/amended vacancy text |
|
03/01/2014 |
Company
representatives, changed |
|
05/09/2013 |
Group
Structure Change |
|
14/08/2013 |
Group
Structure Change |
|
13/08/2013 |
Group
Structure Change |
|
31/07/2013 |
Group
annual accout, new |
|
31/07/2013 |
Annual
account, new |
|
11/07/2013 |
Annual
report (PDF), new |
Status History
No status
history events for this company
Profit and Loss
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
No |
No |
No |
|
Revenue |
332.262.000 |
366.200.000 |
280.938.000 |
|
Operating Costs |
309.421.000 |
351.545.000 |
268.415.000 |
|
Operating Profit |
22.841.000 |
14.655.000 |
12.523.000 |
|
Wages & Salaries |
21.424.000 |
19.931.000 |
18.979.000 |
|
Depreciation |
309.000 |
3.884.000 |
3.992.000 |
|
Financial Income |
16.000 |
20.000 |
44.000 |
|
Financial Expenses |
977.000 |
651.000 |
1.086.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
- |
- |
- |
|
Profit before Tax |
50.460.000 |
14.023.000 |
27.571.000 |
|
Tax |
5.001.000 |
3.899.000 |
2.203.000 |
|
Profit after Tax |
45.459.000 |
10.124.000 |
25.368.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
516.000 |
3.028.000 |
-2.036.000 |
|
Retained Profit |
45.975.000 |
13.152.000 |
23.332.000 |
Balance Sheet
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
No |
No |
No |
|
Land & Buildings |
- |
- |
- |
|
Plant & Machinery |
- |
- |
- |
|
Other Tangible Assets |
1.674.000 |
1.265.000 |
1.514.000 |
|
Total Tangible Assets |
1.674.000 |
1.265.000 |
1.514.000 |
|
Goodwill |
- |
- |
- |
|
Other Intangible Assets |
- |
- |
3.561.000 |
|
Total Intangible Assets |
- |
- |
3.561.000 |
|
Loans To Group |
- |
- |
- |
|
Other Loans |
- |
- |
- |
|
Miscellaneous Fixed Assets |
104.759.000 |
104.759.000 |
104.759.000 |
|
Total Other Fixed Assets |
104.759.000 |
104.759.000 |
104.759.000 |
|
TOTAL FIXED ASSETS |
106.433.000 |
106.024.000 |
109.834.000 |
|
Work In Progress |
- |
- |
- |
|
Other Inventories |
31.457.000 |
48.363.000 |
43.359.000 |
|
Total Inventories |
31.457.000 |
48.363.000 |
43.359.000 |
|
Trade Receivables |
47.117.000 |
27.520.000 |
16.471.000 |
|
Group Receivables |
- |
- |
- |
|
Miscellaneous Receivables |
12.350.000 |
13.188.000 |
11.748.000 |
|
Total Receivables |
59.467.000 |
40.708.000 |
28.219.000 |
|
Cash |
2.905.000 |
139.000 |
408.000 |
|
Other Current Assets |
- |
- |
- |
|
TOTAL CURRENT ASSETS |
93.829.000 |
89.210.000 |
71.986.000 |
|
TOTAL ASSETS |
200.262.000 |
195.234.000 |
181.820.000 |
|
Trade Payables |
40.682.000 |
37.024.000 |
29.798.000 |
|
Bank Liabilities |
10.133.000 |
18.085.000 |
24.478.000 |
|
Group Payables |
9.139.000 |
22.255.000 |
2.117.000 |
|
Miscellaneous Liabilities |
14.126.000 |
5.117.000 |
8.891.000 |
|
TOTAL CURRENT LIABILITIES |
74.080.000 |
82.481.000 |
65.284.000 |
|
Bank Liabilities Due After 1 Year |
5.107.000 |
22.107.000 |
1.015.000 |
|
Other Loans Or
Finance Due After 1 Year |
- |
- |
- |
|
Group Payables Due After 1 Year |
- |
- |
- |
|
Miscellaneous
Liabilities Due After 1 Year |
31.634.000 |
32.179.000 |
35.207.000 |
|
TOTAL LONG TERM LIABILITIES |
36.741.000 |
54.286.000 |
36.222.000 |
|
TOTAL LIABILITIES |
110.821.000 |
136.767.000 |
101.506.000 |
|
Called Up Share Capital |
100.000 |
100.000 |
100.000 |
|
Share Premium |
- |
- |
- |
|
Revenue Reserves |
89.321.000 |
58.347.000 |
80.194.000 |
|
Other Reserves |
20.000 |
20.000 |
20.000 |
|
TOTAL SHAREHOLDERS EQUITY |
89.441.000 |
58.467.000 |
80.314.000 |
Other Financials
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Contingent Liabilities |
8.311.000 |
9.398.000 |
8.078.000 |
|
Working Capital |
19.749.000 |
6.729.000 |
6.702.000 |
|
Net Worth |
89.441.000 |
58.467.000 |
76.753.000 |
Ratios
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
15.19 % |
3.83 % |
9.81 % |
|
Return On Capital Employed (%) |
18.39 % |
5.05 % |
11.16 % |
|
Return On Total Assets Employed (%) |
25.20 % |
7.18 % |
15.16 % |
|
Return On Net Assets Employed (%) |
56.42 % |
23.98 % |
34.33 % |
|
Sales/Net Working Capital |
16.82 |
54.42 |
41.92 |
|
Stock Turnover Ratio (%) |
9.47 % |
13.21 % |
15.43 % |
|
Debtor Days |
51.76 |
27.43 |
21.40 |
|
Creditor Days |
44.69 |
36.90 |
38.71 |
|
Current Ratio |
1.27 |
1.08 |
1.10 |
|
Liquidity Ratio/Acid Test |
0.84 |
0.50 |
0.44 |
|
Current Debt Ratio |
0.83 |
1.41 |
0.81 |
|
Gearing (%) |
17.04 % |
68.74 % |
31.74 % |
|
Equity In Percentage (%) |
93.65 % |
64.62 % |
109.27 % |
|
Total Debt Ratio |
1.24 |
2.34 |
1.26 |
Additional Financials Items
|
Year End Date |
2016 |
2015 |
2014 |
|
Audited
Accounts |
Yes |
Yes |
Yes |
|
Auditor
Comments |
- |
- |
- |
Share Capital Structure
|
Issued Share Capital 100.000 SEK |
Shareholders
No
shareholders data for this company.
Current Directors
|
Name |
Appointment Date |
Position |
|
Carl
Christer Gyberg |
02/01/2014 |
Chairman
of Board |
|
Apple,
Egberg Josef |
03/02/2015 |
Actual
Member of Board |
|
Sture
Lennart Fredriksson |
03/02/2015 |
Actual
Member of Board |
Previous Directors
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Leif Nore
Fredriksson |
25/03/1996 |
Actual
Member of Board |
03/02/2015 |
|
Johan
Vilhelm Schottenius |
11/02/2014 |
Actual
Member of Board |
03/02/2015 |
|
Anders
Gerhard Ullberg |
21/06/2010 |
Actual
Member of Board |
03/02/2015 |
|
Appel,
Egbert Josef |
20/04/2007 |
Actual Member
of Board |
11/02/2014 |
|
Sture
Lennart Fredriksson |
07/08/1991 |
Actual
Member of Board |
02/01/2014 |
Group Structure
|
Company Name |
Number |
Status |
Latest Annual Accounts |
|
Hergit AB |
5562334291 |
|
31/12/2016 |
|
1 Norex International Aktiebolag |
5564304425 |
|
31/12/2016 |
|
2 Norex Borlänge AB |
5566819669 |
|
31/12/2016 |
|
2 Norex Raahe Oy |
20174972 |
|
31/12/2016 |
|
2 Norex Tornio Oy |
17737172 |
|
31/12/2016 |
Negative Information
|
Debt Balance |
|
|
No Debt
Balance for this company. Record of Non Payment |
|
|
Number Of Distraint Or Repossessions |
0 |
|
Number Of Public Claims |
0 |
|
Number Of Private Claims |
0 |
|
Number Of Applications |
0 |
|
Number Of Revoked Applications Latest Public Claim |
0 |
|
No Latest
Public Claim for this company. Latest Private Claim |
|
|
No Latest
Private Claim for this company. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.53 |
|
UK Pound |
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
SEK |
1 |
INR 7.90 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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.