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MIRA INFORM REPORT

 

 

Report Date :            

08.04.2011

 

IDENTIFICATION DETAILS

 

Name :

DACAPO STAINLESS AS

 

 

Registered Office :

Neptunvej 1, 8600 Silkeborg

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

26.08.2002

 

 

Com. Reg. No.:

26688248 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of metals and metal ores

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Estimated 600.000 DK

Status :

Moderate

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Denmark

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Company ID

 

Main name                   DACAPO STAINLESS A/S

Main address               NEPTUNVEJ 1

City                              8600 SILKEBORG

Country                        Denmark

Phone-no.                    +45-87-430000

Fax-no.                         +45-87-430007

Nat. partner ID-no.        1073400

ID-/Reg.-no.                  26688248 A/S

Legal form                   Limited company

Company Status           Active

 

 

Activity

 

Activity             46.72 Wholesale of metals and metal ores

 

No of employees empl 37

 

 

Management Information

 

Management                  KRISTIAN SAXTRUP SYLVEST (Managing director)

                                    HENRIK SAXTRUP SYLVEST

 

Board of directors   JESPER KLEIN-PETERSEN (Member of the board)

                     HENRIK SAXTRUP SYLVEST (Member of the board)

                     MICHAEL MORTENSEN (Member of the board)

                     ANDY NØRREGAARD ANDERSEN (Member of the board)

 

 

Historical Data

 

Established          2003

 

Registered           2002-08-26

 

 

Credit Facilities

 

Bankers       JYSKE BANK A/S SILKEBORG, VESTERGADE VESTERGADE

                     - 8-16 8600 SI

 

 

Financial data

 

Currency             Danish Krone

 

<* *>

 

Closing date                 2009-12-31        2008-12-31        2007-12-31

 

Source                      Ann. report       Ann. report       Ann. report

 

Turnover                    196.909.000       358.733.000

Costs                       205.953.000       355.892.000

Ordinary result             -27.802.000       -10.008.000        18.276.000

Tax                          -3.048.000        -1.145.000         4.959.000

Annual result               -24.754.000        -8.863.000        13.317.000

 

<* Assets *>

Fixed assets                 34.990.000        24.070.000         5.549.000

Current assets              118.639.000       150.695.000       180.621.000

 

<* Liabilities *>

Equity capital                3.986.000        22.158.000        35.972.000

Share capital                21.466.000        15.466.000        15.466.000

Long-term debts               5.037.000         5.906.000         1.894.000

Short-term debts            142.386.000       143.417.000       148.304.000

 

 

Company Ratios

 

Gearing I                       -475,50         -7.809,78            493,70

Acid test ratio I                 83,32            105,07            121,79

Acid test ratio II                43,27             45,94             55,53

Return on investment              -5,89              1,63              9,77

Return on equity                -697,49            -45,17             50,81

Solvency ratio                     2,59             12,68             19,32

 

 

Property

 

Property             No

 

 

Corporate Structure

 

Parent company       2-F FINANS A/S (ID:1140679) (88%)

 

Shareholder             PPMK HOLDING APS (ID:1353790) (8%) (Shareholder)

 

Subsidiaries            DACAPO STEEL AB (100%)

                     DACAPO STAINLESS BV (100%)

                     DACAPO EDELSTAHL GMBH (100%)

                     DACAPO STAINLESS AS (100%)

 

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Credit limit         Estimated 600.000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.22

UK Pound

1

Rs.71.97

Euro

1

Rs.63.23

 

 

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

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.