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MIRA INFORM REPORT
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Report No. : |
495431 |
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Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
UPM SALES OY |
|
|
|
|
Registered Office : |
Åkerlundinkatu 11 B, 33100 Tampere |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
December, 2016 |
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|
|
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Date of Incorporation : |
04.10.2011 |
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|
|
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Com. Reg. No.: |
24305335 |
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|
|
|
Legal Form : |
Limited Company |
|
|
|
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Line of Business : |
Subject is engaged in Wholesale of other intermediate products. |
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|
|
|
No. of Employees : |
129 |
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 |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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, particularly in 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 an estimated 3.3% in 2017, supported by a strong increase in investment, private consumption, and net exports. GDP is expected to grow a rate of 2-3% in the next few years.
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. As a result, wage growth was nearly flat in 2017. 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 name and Summary
|
Business Name |
UPM Sales Oy |
|
Country |
FINLAND |
|
Company Registration
Number |
24305335 |
|
Activity Code |
46760 |
|
Activity Description |
Wholesale of other
intermediate products |
|
Company Status |
Active (Active) |
|
Latest Turnover Figure |
5,341,112,000 EUR |
|
Latest Shareholder
Equity Figure |
438,029,000 EUR |
Basic Information
|
Business Name
UPM Sales Oy |
|
Registered Company Name UPM Sales Oy |
|
Company Registration Number 24305335 |
|
Country
FINLAND |
|
VAT Registration Number 24305335 |
|
VAT Registration Date 01/10/2011 |
|
Date of Company Registration 04/10/2011 |
|
Date of Starting Operations 01/01/2012 |
|
Legal Form Limited company |
|
Type of Ownership Private Finnish |
|
Company Status Active (Active) |
|
Currency
of this
Report EUR |
|
Principal Activity Code 46760 |
|
Principal Activity Description Wholesale of other intermediate products |
|
Contact Address Åkerlundinkatu 11 B, 33100 Tampere |
|
Contact Telephone Number - - |
Main Address
|
Address Åkerlundinkatu 11 B, 33100 Tampere |
|
Country FINLAND |
|
Telephone - - |
Other Addresses
|
Address Country |
|
Pl 835, 33101 Tampere |
Activities
|
Activity Code Activity Description |
|
46760
Wholesale of other intermediate products |
Email Addresses
|
No email addresses for
this company |
Web Pages
Employee Information
|
Year |
Number of Employees |
|
2016 |
129 |
|
2015 |
163 |
|
2014 |
196 |
|
2013 |
173 |
|
2012 |
98 |
Advisors
|
Auditor Name PricewaterhouseCoopers Oy |
Miscellaneous Information
|
Fax Number |
|
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 |
|
UPM Sales Ltd Parallel business name |
Branches
|
Name |
|
Name |
|
No branches for current
company |
Business mortgages summary
|
No business mortgages
for this company |
Business mortgages
|
No business mortgages
for this company |
Import export activities
|
Import Export |
|
Yes Yes |
Register Information
|
Tax administration |
04/10/2011 |
|
Trade register |
04/10/2011 |
|
Employer register |
01/01/2012 |
|
Prepayment register |
28/02/2018 |
|
Date of latest chagne in
trade register |
26/01/2018 |
|
01/10/2011 |
|
Financials
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 |
5,341,112,000 |
-2.3% |
5,466,614,132 |
-0.8% |
5,508,110,000 |
|
Operating Costs |
5,327,818,000 |
-2.4% |
5,460,246,583 |
-0.8% |
5,501,985,000 |
|
Operating Profit |
13,294,000 |
108.8% |
6,367,549 |
4.0% |
6,125,000 |
|
Wages & Salaries |
8,191,000 |
-18.3% |
10,029,938 |
-5.0% |
10,553,000 |
|
Pension Costs |
1,902,000 |
-20.2% |
2,383,248 |
-4.7% |
2,502,000 |
|
Depreciation |
455,000 |
0.0% |
454,988 |
0.0% |
455,000 |
|
Financial Income |
2,021,000 |
335.7% |
463,890 |
350.4% |
103,000 |
|
Financial Expenses |
11,381,000 |
219.2% |
3,565,427 |
21.2% |
2,942,000 |
|
Extraordinary Income |
30,000,000 |
- |
- |
5,300,000 |
8,586,000 |
|
Profit before Tax |
33,935,000 |
939.0% |
3,266,012 |
-62.0% |
|
|
Tax |
6,214,000 |
249.5% |
1,777,832 |
64.8% |
1,079,000 |
|
Profit after Tax |
27,721,000 |
1,762.7% |
1,488,180 |
-80.2% |
7,507,000 |
|
Other Appropriations |
- |
- |
- |
- |
- |
|
Retained Profit |
27,720,000 |
1,762.7% |
1,488,179 |
-80.2% |
7,507,000 |
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 |
- |
- |
- |
- |
- |
|
Other Tangible Assets |
- |
- |
- |
- |
- |
|
Total Tangible Assets |
- |
- |
- |
- |
- |
|
Goodwill |
- |
- |
- |
- |
- |
|
Other Intangible Assets |
336,000 |
-57.5% |
790,605 |
-36.5% |
1,246,000 |
|
Total Intangible Assets |
336,000 |
-57.5% |
790,605 |
-36.5% |
1,246,000 |
|
Investments |
- |
- |
- |
- |
- |
|
Loans To Group |
- |
- |
- |
- |
- |
|
Total Other Fixed Assets |
- |
- |
- |
- |
- |
|
TOTAL FIXED ASSETS |
336,000 |
-57.5% |
790,605 |
-36.5% |
1,246,000 |
|
Finished Goods |
268,757,000 |
-7.0% |
289,139,535 |
-4.4% |
302,463,000 |
|
Other Inventories |
- |
- |
- |
- |
- |
|
Total Inventories |
268,757,000 |
-7.0% |
289,139,535 |
-4.4% |
302,463,000 |
|
Trade Receivables |
558,840,000 |
-6.0% |
594,518,880 |
6.4% |
558,738,000 |
|
Group Receivables |
218,344,000 |
24.8% |
174,955,661 |
17.5% |
148,894,000 |
|
Receivables Due After 1
Year |
- |
- |
- |
- |
- |
|
Miscellaneous
Receivables |
67,257,000 |
36.2% |
49,371,080 |
17.5% |
42,005,000 |
|
Total Receivables |
844,441,000 |
3.1% |
818,845,621 |
9.2% |
749,637,000 |
|
Cash |
32,000 |
76.9% |
18,088 |
-97.5% |
738,000 |
|
Other Current Assets |
- |
- |
- |
- |
- |
|
TOTAL CURRENT ASSETS |
1,113,230,000 |
0.5% |
1,108,003,244 |
5.2% |
1,052,838,000 |
|
TOTAL ASSETS |
1,113,566,000 |
0.4% |
1,108,793,849 |
5.2% |
1,054,084,000 |
|
Trade Payables |
51,838,000 |
4.4% |
49,664,111 |
20.1% |
41,367,000 |
|
Other Loans Or Finance |
198,000 |
-5.3% |
209,116 |
-93.2% |
3,063,000 |
|
Group Payables |
556,408,000 |
-1.1% |
562,617,014 |
7.6% |
523,053,000 |
|
Miscellaneous
Liabilities |
67,082,000 |
-21.9% |
85,863,698 |
10.8% |
77,523,000 |
|
TOTAL CURRENT
LIABILITIES |
675,526,000 |
-3.3% |
698,353,939 |
8.3% |
645,006,000 |
|
Trade Payables Due After
1 Year |
- |
- |
- |
- |
- |
|
Other
Loans Or Finance Due After 1
Year |
- |
- |
- |
- |
- |
|
Group Payables Due After
1 Year |
- |
- |
- |
- |
- |
|
Miscellaneous
Liabilities Due After 1 Year |
125,000 |
-49.4% |
246,871 |
-33.6% |
372,000 |
|
TOTAL LONG TERM
LIABILITIES |
125,000 |
-49.4% |
246,871 |
-33.6% |
372,000 |
|
TOTAL LIABILITIES |
675,651,000 |
-3.3% |
698,600,810 |
8.2% |
645,378,000 |
|
Called Up Share Capital |
3,000 |
20.0% |
2,500 |
-16.7% |
3,000 |
|
Revenue Reserves |
37,911,000 |
272.0% |
10,190,536 |
17.1% |
8,703,000 |
|
Other Reserves |
400,000,000 |
0.0% |
400,000,000 |
0.0% |
400,000,000 |
|
TOTAL SHAREHOLDERS
EQUITY |
437,914,000 |
6.8% |
410,193,036 |
0.4% |
408,706,000 |
Other Financials
|
Financial Year |
12/2016 |
(%) |
12/2015 |
(%) |
12/2014 |
|
Working Capital |
437,704,000 |
6.8% |
409,649,305 |
0.4% |
407,832,000 |
|
Net Worth |
437,578,000 |
6.9% |
409,402,431 |
0.5% |
407,460,000 |
Ratios
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
0.64 % |
0.06 % |
0.16 % |
|
Return On Capital
Employed (%) |
7.75 % |
0.80 % |
2.10 % |
|
Return On Total Assets
Employed (%) |
3.05 % |
0.29 % |
0.81 % |
|
Return On Net Assets
Employed (%) |
7.75 % |
0.80 % |
2.10 % |
|
Sales/Net Working
Capital |
12.20 |
13.34 |
13.51 |
|
Stock Turnover Ratio (%) |
5.03 % |
5.29 % |
5.49 % |
|
Debtor Days |
38.19 |
39.70 |
37.03 |
|
Creditor Days |
3.54 |
3.32 |
2.74 |
|
Current Ratio |
1.65 |
1.59 |
1.63 |
|
Liquidity Ratio/Acid
Test |
1.25 |
1.17 |
1.16 |
|
Current Debt Ratio |
1.54 |
1.70 |
1.58 |
|
Gearing (%) |
0.03 % |
0.06 % |
0.09 % |
|
Equity In Percentage (%) |
39.34 % |
37.02 % |
38.82 % |
|
Total Debt Ratio |
1.54 |
1.70 |
1.58 |
Additional financials
|
Financial Year |
12/2016 |
|
12/2015 |
|
12/2014 |
|
Bonds and notes - short
terms |
- |
|
- |
|
- |
|
Bonds and notes - long
terms |
- |
|
- |
|
- |
|
Gross revenue |
229,251,000 |
-10.4% |
255,921,869 |
0.9% |
253,527,000 |
|
Operating margin ratio |
0.30 |
|
0.10 |
|
0.10 |
|
Working capital ratio |
14.50 |
|
15.00 |
|
14.80 |
|
Networking capital
percentage |
8.20 |
|
7.50 |
|
7.40 |
|
Net gearing |
0.00 |
|
0.00 |
|
0.00 |
|
Equity ratio |
39.40 |
|
37.50 |
|
39.00 |
|
Operating income
percentage |
0.20 |
|
0.10 |
|
0.10 |
|
Relative indebtedness |
12.60 |
|
12.50 |
|
11.60 |
|
Turnover per person |
41,403,969 |
|
33,537,510 |
|
28,102,602 |
|
Financing result
percentage |
0.00 |
|
0.00 |
|
0.00 |
|
Number of shares |
1 |
|
|
|
|
Additional financials
|
Financial Year |
12/2016 |
|
12/2015 |
|
12/2014 |
|
Bonds and notes - short
terms |
- |
|
- |
|
- |
|
Bonds and notes - long
terms |
- |
|
- |
|
- |
|
Gross revenue |
229,251,000 |
-10.4% |
255,921,869 |
0.9% |
253,527,000 |
|
Operating margin ratio |
0.30 |
|
0.10 |
|
0.10 |
|
Working capital ratio |
14.50 |
|
15.00 |
|
14.80 |
|
Networking capital
percentage |
8.20 |
|
7.50 |
|
7.40 |
|
Net gearing |
0.00 |
|
0.00 |
|
0.00 |
|
Equity ratio |
39.40 |
|
37.50 |
|
39.00 |
|
Operating income
percentage |
0.20 |
|
0.10 |
|
0.10 |
|
Relative indebtedness |
12.60 |
|
12.50 |
|
11.60 |
|
Turnover per person |
41,403,969 |
|
33,537,510 |
|
28,102,602 |
|
Financing result
percentage |
0.00 |
|
0.00 |
|
0.00 |
|
Number of shares |
1 |
|
|
|
|
Share Capital Structure
|
Nominal Share Capital 2,500 EUR |
|
Issued Share Capital 2,500 EUR |
Shareholders
|
Shareholder % Shares
Held |
100 |
|
UPM-Kymmene Oyj |
Current Directors
|
Name |
Date of birth |
City |
Appointment Date |
Position |
|
Heikkilä Olli Paavo |
07/03/1959 |
Espoo |
23/08/2012 |
Chairman |
|
Latva Sami Matti Tapio |
25/05/1978 |
Helsinki |
04/10/2011 |
Ordinary member |
|
Wallenius Heikki Ilmari |
11/09/1960 |
Helsinki |
23/08/2012 |
Ordinary member |
Other Company Officials
|
Name |
City |
Appointment Date |
Position |
|
Lindh Merja Katariina |
Espoo |
26/06/2014 |
Princ. resp. auditor of
acc. corp. |
Immediate Holding Parent
|
Immediate
Holding Company Name VAT/Registration
Number |
|
UPM-Kymmene Oyj 10410900 |
Subsidiary Companies
|
Subsidiary Name |
|
No subsidaries for this
company |
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 65.05 |
|
|
1 |
INR 89.69 |
|
Euro |
1 |
INR 80.03 |
|
EURO |
1 |
INR 80.29 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
DNS |
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.