CreditReport

Highest credit worthiness Limit: 2562 kSEK

Part judgements

History / Operation: Well-established
Shareholder / Management: Satisfactory
Finance: Good
Ability to pay: Very good

Rating history

Rating history
Date	Rating	Limit	Annual report
2018-06-05	AAA	3 % of operating income	2017-12
2017-03-28	AAA	3 % of operating income	2016-12
2016-02-26	AA	2 % of operating income	2015-12
2015-04-10	AA	2 % of operating income	2014-12
2014-07-31	B		2013-12
2013-08-03	A	1 % of operating income	2012-12
2013-01-05	A	1 % of operating income	2011-12
2012-12-24	C		2011-12
2012-07-14	A	1 % of operating income	2011-12
2012-07-06	A	1 % of operating income	2010-08
2012-06-02	C		2010-08
2012-03-25	A	1 % of operating income	2010-08
2012-03-03	C		2010-08
2011-04-18	A	1 % of operating income	2010-08
2009-11-24	A	1 % of operating income	2009-08
2009-10-16	AA	2 % of operating income	2008-08
2008-11-19	A	2 % of operating income	2008-08
2008-01-04	AA	3 % of operating income	2007-08
2007-04-17	AA	4 % of operating income	2006-08
2006-03-30	A	3 % of operating income	2005-08
2005-03-21	AAA	4 % of operating income	2004-08
2003-12-04	AA	3 % of operating income	2003-08
2003-10-04	AA	3 % of operating income	2002-08
2003-05-08	AAA	3 % of operating income	2002-08
2002-09-24	AA	2 % of operating income	2001-08
2002-02-27	C		2001-08
2001-05-22	A	1 % of operating income	2000-08
2000-04-06	A	1 % of operating income	1999-08
1999-03-03	AA	1 % of operating income	1998-08
1998-05-07	C		1997-08
1997-10-11	B		1996-08
1997-04-17	A	1 % of operating income	1996-08
1996-05-21	A	2 % of operating income	1995-12
1995-09-22	A	3 % of operating income	1994-12
1994-09-03	B		1993-12
1994-07-02	B		1993-12
1994-02-24	C		1992-12
1992-07-01	B		1991-12
1992-01-02	B		1990-12
1991-01-03	B		1989-12
1990-01-05	A	1 % of operating income	1988-12
1989-01-20	NYTT		-

History / Operation

Legal form: Limited company
Date of registration: 1987-10-30
Current name registered: 1988-08-11
Previous name: AB Grundstenen 40400
Corporate domicile: Söderköpings kommun
Registered share capital: 602,000 SEK
Registered as employer: Yes
Actively reporting VAT: Yes
Registered for MVA: Yes
NACE code: 2344 Manufacture of other technical ceramic products

Board member information

Board member information
Name	Function	Entered
Andersson, Tommy	Member managing dir.	2016-02-25
Wernhoff, Thomas	Member chairman	2016-02-25
Torgilsman, Bertil Holger	Member	2016-02-25
Almesåker, Gunnar Arne	Member	2016-02-25
Bouveng, Per	Member	2017-07-10
Gustafsson, Jens	Member	2017-07-10
Lundmark, Jonas	Member	2017-07-10
Gambe, Pernilla	Deputy	2017-07-10
Westman, Elin	Deputy	2017-07-10
Lyngenberg, Kristian	Auditor	2008-10-10
Söderlund, Robert	Deputy auditor	2005-04-28

Income statement

Income statement
Income statement amount in kSEK	2017-12	2016-12	2015-12	2014-12	2013-12
Net sales	84,681	79,083	79,532	71,360	69,693
Change in inventories	-327	410	407	446	0
Work performed for own use	0	0	0	0	0
Other operating income	1,071	743	697	1,124	4,336
Total renewal	85,425	80,236	80,636	72,930	74,029
Cost of goods
Raw materials and consumables	22,824	20,353	22,948	20,246	19,198
Goods for resale	13,813	14,417	13,670	10,266	11,397
Other external costs	14,694	14,461	13,997	14,526	20,615
Personnel costs	22,912	22,127	20,679	18,351	20,147
Items affecting comparability	0	0	0	0	0
Other operating expenses	871	1,194	1,379	1,056	75
Total operating expenses	77,425	74,764	74,814	66,598	73,208
Depreciation	2,311	2,212	2,141	2,153	1,776
Result after depreciation	7,998	5,472	5,824	6,331	822
Result from participation in group companies and associated	0	0	0	0	0
Interest income from group companies	0	0	0	0	0
External interest income	0	17	84	96	150
Other financial income	0	0	0	0	0
Total financial income	0	17	84	96	150
Interest expense from group companies	0	0	0	0	0
External interest expenses	490	725	1,113	1,626	1,866
Total interest expenses	490	725	1,113	1,626	1,866
Other financial expenses	0	0	0	0	0
Total financial costs	490	725	1,113	1,626	1,866
Financial items affecting comparability	0	0	0	0	0
Result after financial items	7,508	4,764	4,794	4,802	-894
Extraordinary income	0	0	0	0	0
Extraordinary expenses	0	0	0	0	0
Total extraordinary items	0	0	0	0	0
Result before allocations	7,508	4,764	4,794	4,802	-894
Group contribution	0	0	0	0	0
Shareholders contribution	0	0	0	0	0
Allocations	-2,845	-2,424	-1,826	-3,668	919
Result before taxt	4,663	2,340	2,968	1,134	25
Tax	1,064	534	663	264	22
Minority shareholding	0	0	0	0	0
Net P/L for the year	3,599	1,806	2,305	870	3

Balance sheet

Balance sheet
Balance sheet Amounts in kSEK	2017-12	2016-12	2015-12	2014-12	2013-12
Subscribed capital unpaid	0	0	0	0	0
Capitalized expenditure for research & development	0	0	0	12	95
Patents, licenses	0	0	0	0	0
Goodwill	0	0	0	0	0
Other intangible assets	0	0	0	0	0
Total intangible assets	0	0	0	12	95
Land and buildings	0	0	0	0	0
(land)	0	0	0	0	0
Machinery	9,131	10,419	12,049	326	367
Equipment	3,680	3,551	3,298	385	265
Machinery & equipment (tot)	12,811	13,970	15,347	711	632
Other fixed assets (not depreciable)	0	0	0	16,180	16,636
Other fixed assets (depreciable)	0	0	0	0	0
Total tangible assets	12,811	13,970	15,347	16,891	17,268
Participation in group companies and associated	0	0	0	0	0
Receivables from group companies and associated	0	0	0	0	0
Loans to partner or other closely related	0	0	0	0	0
Other financial assets	140	140	140	140	140
Total financial assets	140	140	140	140	140
Whereof not depreciable fixed assets	140	140	140	16,320	16,776
Work in progress	59	0	0	499	1,057
Other inventories	15,898	13,984	13,996	11,593	9,809
Total inventories	15,957	13,984	13,996	12,092	10,866
Account receivables	14,265	12,043	6,423	6,123	6,945
Receivables from group companies and associated	0	0	4,160	4,900	4,665
Other receivables	2,067	1,761	2,180	3,130	5,008
Total receivables	16,332	13,804	12,763	14,153	16,618
Total short term investments	0	0	0	0	0
Cash and bank balances	2,306	819	1,733	1,414	338
Other current assets
Total current assets	34,595	28,608	28,491	27,658	27,823
Total assets	47,546	42,718	43,978	44,702	45,325
Share capital	602	602	602	602	602
Share premium reserve	0	0	0	0	0
Revaluation reserve	0	0	0	0	0
Other restricted equity	428	428	428	428	428
Total restricted equity	1,030	1,030	1,030	1,030	1,030
Profit or loss brought forward	15	515	15	1,132	1,553
Group contribution	0	0	0	0	0
Shareholders contribution	0	-500	0	0	0
Net P/L for the year	3,599	1,806	2,305	870	3
Total non-restricted capital	3,614	1,821	2,320	2,002	1,556
Shareholders equity	4,644	2,851	3,350	3,032	2,586
Untaxed reserves	12,410	9,565	7,141	5,315	1,647
Minority shareholding	0	0	0	0	0
Provisions	140	140	140	140	140
Bond loans	0	0	0	0	0
Liabilities to credit inst. (long term)	14,054	7,642	8,300	15,381	19,096
Liabilities to group companies and associated	0	0	0	0	0
Other long-term liabilities	148	289	413	575	730
Long term liabilities	14,202	7,931	8,713	15,956	19,826
Liabilities to credit inst. (short term)	0	8,940	11,087	6,970	6,845
Accounts payable	10,133	7,896	8,826	9,314	10,385
Liabilities to group companies and associated	0	0	0	0	0
Other current liabilities	6,016	5,396	4,721	3,975	3,897
Total current liabilities	16,149	22,232	24,634	20,259	21,127
Total equity and liability	47,546	42,718	43,978	44,702	45,325

Key figures

Key figures
	2017-12	2016-12	2015-12	2014-12	2013-12	Area average
Turnover kSEK	85,425	80,236	80,636	72,930	74,029	-
Result after financial items kSEK	7,508	4,764	4,794	4,802	-894	-
Net worth kSEK	14,323	10,311	8,920	7,177	3,870	-
Assets kSEK	47,546	42,718	43,978	44,702	45,325	-
Number of employees	32	33	32	31	31	-
Equity ratio %	30.1	24.1	20.3	16.1	8.5	43.5
Quick ratio %	115.4	65.8	58.8	76.8	80.3	118.5
Current ratio %	214.2	128.7	115.7	136.5	131.7	159.8
Profit margin %	9.4	6.8	7.3	8.8	1.3	6.8
Return on total assets %	16.8	12.8	13.4	14.4	2.1	11.8
Return on equity %	52.4	46.2	53.7	66.9	-23.1	26.7
Interest on liabilities %	1.5	2.2	3.2	4.3	4.5	0.8
Risk margin	15.3	10.6	10.3	10	-2.4	10.5
Liability ratio t/year	2.3	3.1	3.9	5.2	10.7	1.3
Interest cover t/year	16.3	7.6	5.3	4	0.5	20.2
Turnover/Assets t/year	1.8	1.9	1.8	1.6	1.6	1.7

Notes/Other information

Notes/Other information
	2017-12	2016-12	2015-12	2014-12	2013-12
Chattel mortgages	27,520	27,520	27,520	27,520	27,520
Property mortgage	0	0	0	0	0
Other securities	0	0	0	0	4,500
Total securities	27,520	27,520	27,520	27,520	32,020
Explanation of comment F Security existing, amount unavailable Y Other securities existing, amounts unavailable N No information available
Conditional shareholders contribution	0	0	500	500	0
Other contingent liabilities	120	755	120	120	0
Total contingent liabilities	120	755	620	620	0
Explanation of comment F Security existing, amount unavailable Y Other securities existing, amounts unavailable N No information available
Dividend	0
Number of employees	32	33	32	31	31
Salaries and emoluments to board members	1,157	900	1,042	1,006
Bonus	0	0	0	0
Salaries to others	13,719	13,124	11,363	12,766
Salary (bonus)	0	0	0	0
Social costs	6,819	6,104	4,681	5,845
Severance pay
Granted bank overdraft	10,000	7,300	7,300	7,300
Bank overdraft (used)	7,004	8,940	7,007	6,970	6,845

Ability to pay

Payment index

Date: 2018-10-14
Subject: 76
Line of business: 78
Number of invoices: 12
Average days after due date: 1

Soliditet has per 2018-10-14 received information regarding 12 paid invoices, total amount 30,356 SEK.

Sura Magnets AB

Highest credit worthiness Limit: 2562 kSEK

Part judgements

Rating history

History / Operation

Board member information

Income statement

Balance sheet

Key figures

Notes/Other information

Explanation of comment

Explanation of comment

Ability to pay

Payment index