CreditReport

Highest credit worthiness Limit: 3807 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
2019-05-28	AAA	4 % of operating income	2018-12
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
Gambe, Pernilla	Member	2019-03-13
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	2018-12	2017-12	2016-12	2015-12	2014-12
Net sales	92,175	84,681	79,083	79,532	71,360
Change in inventories	1,858	-327	410	407	446
Work performed for own use	0	0	0	0	0
Other operating income	1,148	1,071	743	697	1,124
Total renewal	95,181	85,425	80,236	80,636	72,930
Cost of goods
Raw materials and consumables	26,017	22,824	20,353	22,948	20,246
Goods for resale	17,640	13,813	14,417	13,670	10,266
Other external costs	14,847	14,694	14,461	13,997	14,526
Personnel costs	25,014	22,912	22,127	20,679	18,351
Items affecting comparability	0	0	0	0	0
Other operating expenses	1,224	871	1,194	1,379	1,056
Total operating expenses	87,316	77,425	74,764	74,814	66,598
Depreciation	2,574	2,311	2,212	2,141	2,153
Result after depreciation	7,866	7,998	5,472	5,824	6,331
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	1	0	17	84	96
Other financial income	92	0	0	0	0
Total financial income	93	0	17	84	96
Interest expense from group companies	0	0	0	0	0
External interest expenses	432	490	725	1,113	1,626
Total interest expenses	432	490	725	1,113	1,626
Other financial expenses	0	0	0	0	0
Total financial costs	432	490	725	1,113	1,626
Financial items affecting comparability	0	0	0	0	0
Result after financial items	7,528	7,508	4,764	4,794	4,802
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	7,528	7,508	4,764	4,794	4,802
Group contribution	0	0	0	0	0
Shareholders contribution	0	0	0	0	0
Allocations	-1,125	-2,845	-2,424	-1,826	-3,668
Result before taxt	6,403	4,663	2,340	2,968	1,134
Tax	1,464	1,064	534	663	264
Minority shareholding	0	0	0	0	0
Net P/L for the year	4,939	3,599	1,806	2,305	870

Balance sheet

Balance sheet
Balance sheet Amounts in kSEK	2018-12	2017-12	2016-12	2015-12	2014-12
Subscribed capital unpaid	0	0	0	0	0
Capitalized expenditure for research & development	0	0	0	0	12
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	0	12
Land and buildings	0	0	0	0	0
(land)	0	0	0	0	0
Machinery	8,948	9,131	10,419	12,049	326
Equipment	4,285	3,680	3,551	3,298	385
Machinery & equipment (tot)	13,233	12,811	13,970	15,347	711
Other fixed assets (not depreciable)	0	0	0	0	16,180
Other fixed assets (depreciable)	0	0	0	0	0
Total tangible assets	13,233	12,811	13,970	15,347	16,891
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	224	140	140	140	140
Total financial assets	224	140	140	140	140
Whereof not depreciable fixed assets	224	140	140	140	16,320
Work in progress	333	59	0	0	499
Other inventories	19,182	15,898	13,984	13,996	11,593
Total inventories	19,515	15,957	13,984	13,996	12,092
Account receivables	13,883	14,265	12,043	6,423	6,123
Receivables from group companies and associated	0	0	0	4,160	4,900
Other receivables	2,157	2,067	1,761	2,180	3,130
Total receivables	16,040	16,332	13,804	12,763	14,153
Total short term investments	0	0	0	0	0
Cash and bank balances	1,005	2,306	819	1,733	1,414
Other current assets
Total current assets	36,560	34,595	28,608	28,491	27,658
Total assets	50,017	47,546	42,718	43,978	44,702
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	705	15	515	15	1,132
Group contribution	0	0	0	0	0
Shareholders contribution	0	0	-500	0	0
Net P/L for the year	4,939	3,599	1,806	2,305	870
Total non-restricted capital	5,644	3,614	1,821	2,320	2,002
Shareholders equity	6,674	4,644	2,851	3,350	3,032
Untaxed reserves	13,535	12,410	9,565	7,141	5,315
Minority shareholding	0	0	0	0	0
Provisions	224	140	140	140	140
Bond loans	0	0	0	0	0
Liabilities to credit inst. (long term)	11,471	14,054	7,642	8,300	15,381
Liabilities to group companies and associated	0	0	0	0	0
Other long-term liabilities	0	148	289	413	575
Long term liabilities	11,471	14,202	7,931	8,713	15,956
Liabilities to credit inst. (short term)	1,500	0	8,940	11,087	6,970
Accounts payable	9,414	10,133	7,896	8,826	9,314
Liabilities to group companies and associated	0	0	0	0	0
Other current liabilities	7,199	6,016	5,396	4,721	3,975
Total current liabilities	18,113	16,149	22,232	24,634	20,259
Total equity and liability	50,017	47,546	42,718	43,978	44,702

Key figures

Key figures
	2018-12	2017-12	2016-12	2015-12	2014-12	Area average
Turnover kSEK	95,181	85,425	80,236	80,636	72,930	-
Result after financial items kSEK	7,528	7,508	4,764	4,794	4,802	-
Net worth kSEK	17,231	14,323	10,311	8,920	7,177	-
Assets kSEK	50,017	47,546	42,718	43,978	44,702	-
Number of employees	36	32	33	32	31	-
Equity ratio %	34.5	30.1	24.1	20.3	16.1	38.7
Quick ratio %	94.1	115.4	65.8	58.8	76.8	100.8
Current ratio %	201.8	214.2	128.7	115.7	136.5	159.7
Profit margin %	8.4	9.4	6.8	7.3	8.8	5.5
Return on total assets %	15.9	16.8	12.8	13.4	14.4	10.2
Return on equity %	43.7	52.4	46.2	53.7	66.9	21.5
Interest on liabilities %	1.3	1.5	2.2	3.2	4.3	0.7
Risk margin	14.6	15.3	10.6	10.3	10	9.1
Liability ratio t/year	1.9	2.3	3.1	3.9	5.2	1.6
Interest cover t/year	18.4	16.3	7.6	5.3	4	17.6
Turnover/Assets t/year	1.9	1.8	1.9	1.8	1.6	1.5

Notes/Other information

Notes/Other information
	2018-12	2017-12	2016-12	2015-12	2014-12
Chattel mortgages	19,120	27,520	27,520	27,520	27,520
Property mortgage	0	0	0	0	0
Other securities	0	0	0	0	0
Total securities	19,120	27,520	27,520	27,520	27,520
Explanation of comment F Security existing, amount unavailable Y Other securities existing, amounts unavailable N No information available
Conditional shareholders contribution	0	0	0	500	500
Other contingent liabilities	0	120	755	120	120
Total contingent liabilities	0	120	755	620	620
Explanation of comment F Security existing, amount unavailable Y Other securities existing, amounts unavailable N No information available
Dividend	2,909	2,909	1,806	1,806	1,987
Number of employees	36	32	33	32	31
Salaries and emoluments to board members	1,157	900	1,042
Bonus	0	0	0
Salaries to others	13,719	13,124	11,363
Salary (bonus)	0	0	0
Social costs	6,819	6,104	4,681
Severance pay
Granted bank overdraft	10,000	7,300	7,300
Bank overdraft (used)	9,096	7,004	8,940	7,007	6,970

Ability to pay

Payment index

Date: 2020-02-23
Subject: 77
Line of business: 77
Number of invoices: 30
Average days after due date: 3

Soliditet has per 2020-02-23 received information regarding 30 paid invoices, total amount 314,998 SEK.

Sura Magnets AB

Highest credit worthiness Limit: 3807 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