MIRA INFORM REPORT

 

 

Report Date :

31.10.2007

 

IDENTIFICATION DETAILS

 

Name :

FREDSTED THE A/S

 

 

Registered Office :

Hammerholmen 47, 49 2650 Hvidovre

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

1996

 

 

Com. Reg. No.:

19184838 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of Coffee, Tea, Cocoa and Spices

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

Main name           

 

FREDSTED THE A/S

 

 

Main address    

   

HAMMERHOLMEN 47

City                    2650 HVIDOVRE

Country              Denmark

Phone-no.          +45-36-341686

Fax-no.              +45-36-341676

 

 

Nat. partner ID-no. 

 

578171

 

 

ID-/Reg.-no.   

 

19184838 A/S

 

 

Legal form        

 

Limited company

 

 

Company Status     

 

 Active

 

 

Activity

 

Activity       51.37 Wholesale coffee, tea, cocoa and spices

 

No of employees empl 9

 

 

Management Information

 

Management           HENRIK WINTHER OLSEN

 

Board of directors   KENNETH BO CODAM (Member of the board)

                               SVEND AAGE DREIST HANSEN (Member of the board)

                                BJARNE GRIBSGAARD OLSEN (Member of the board)

                                HENRIK WINTHER OLSEN (Member of the board)

                                KAJ WINTHER-OLSEN (Member of the board)

 

 

Historical Data

 

Established          1996

 

Registered           2004-06-04

 

 

Credit Facilities

 

Bankers              DANSKE BANK KØGE AFDELING BROGADE 3, POSTBOKS 292

                           - 4600 KØG

 

 

Financial data

 

Currency             Danish Kroner

 

 

Closing date                 2006-12-31        2005-12-31        2004-12-31

 

Source                      Ann. report       Ann. report       Ann. report

 

Ordinary result                 715.000           569.000           385.000

Tax                             204.000           151.000           116.000

Annual result                   511.000           418.000           270.000

 

<* Assets *>

Fixed assets                  9.088.000           702.000           562.000

Current assets               15.707.000         2.570.000         1.730.000

 

<* Liabilities *>

Equity capital                1.707.000         1.196.000           778.000

Share capital                   500.000           500.000           500.000

Short-term debts             22.876.000         1.992.000         1.387.000

 

<* Company Ratios *>

Gearing I                       -309,93            403,24            642,13

Acid test ratio I                 68,66            129,02            124,73

Acid test ratio II                43,13            104,67             76,14

Return on investment               4,38             17,18             13,22

Return on equity                  41,89             47,58             49,49

Solvency ratio                     6,88             36,55             33,94

 

 

Property

 

Property             No

 

Corporate Structure

 

Parent company       HWO HOLDING A/S (ID:89749) (100%)

 

Secondary names(s)   HWO A/S

                                    SALGSGRUPPEN A/S

                                    SCHNACKSFOOD A/S

                                    THEKOMPAGNIET A/S

                                    WINFOOD A/S

 

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Credit limit         Estimated 300.000

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions