MIRA INFORM REPORT

 

 

Report Date :           

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

AARHUSKARLSHAMN DENMARK AS

 

 

Registered Office :

M.P. Bruuns Gade 27, Ãrhus C, 8000

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1871

 

 

Com. Reg. No.:

15672099

 

 

Legal Form :

Private Branch Company

 

 

Line of Business :

retailing miscellaneous specialty foods

 

 

No. of Employees :

450 persons

 

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 :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Denmark

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

AarhusKarlshamn Denmark A/S

M.P. Bruuns Gade 27

Ãrhus C, 8000

Denmark

Tel:       +45 87 30 60 00

Fax:      +45 87 30 60 12

Web:     www.aak.com

           

 

Synthesis

 

Employees:                  450

Company Type:            Private Branch

Corporate Family:          19 Companies

Ultimate Parent:            Aarhus United A/S

Incorporation Date:         1871   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Danish Krone

Annual Sales:               320.6

Net Income:                  0.1

Total Assets:                318.7

 

 

Business Description     

 

AarhusKarlshamn Denmark A/S is primarily engaged in retailing miscellaneous specialty foods (except meat, fish, seafood, fruit and vegetables, confections, nuts, popcorn, and baked goods) not for immediate consumption and not made on the premises.

 

Industry

Industry            Food Processing

ANZSIC 2006:    1150 - Oil and Fat Manufacturing

NACE 2002:      154 - Manufacture of vegetable and animal oils and fats

NAICS 2002:     31122 - Starch and Vegetable Fats and Oils Manufacturing

UK SIC 2003:    154 - Manufacture of vegetable and animal oils and fats

US SIC 1987:    2046 - Wet Corn Milling

 

           


Key Executives   

 

Name

Title

Erik Hojsholt

Koncernchef

Jorgen Balle

President

Esben Vibe

Finansdirektor

Lars Gravholt

Marketing chef

Birte Thorsen

Sekretaer

 

Registered No.(DNK): 15672099

 

1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.623146

2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.55485

 

 

Corporate Overview

 

Location

M.P. Bruuns Gade 27

Ãrhus C, 8000

Denmark

Tel:       +45 87 30 60 00

Fax:      +45 87 30 60 12

Web:    www.aak.com

           

Sales DKK(mil):             1,802.7

Assets DKK(mil):           1,770.6

Employees:                   450

Fiscal Year End:            31-Dec-2010

Industry:                        Food Processing

Incorporation Date:         1871

Company Type:             Private Branch

Quoted Status:              Not Quoted

Registered No.(DNK):     15672099

Koncernchef:                 Erik Hojsholt

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1150     -          Oil and Fat Manufacturing

 

NACE 2002 Codes:

154       -          Manufacture of vegetable and animal oils and fats

 

NAICS 2002 Codes:

31122   -          Starch and Vegetable Fats and Oils Manufacturing

 

US SIC 1987:

2046     -          Wet Corn Milling

 

UK SIC 2003:

154       -          Manufacture of vegetable and animal oils and fats

 

Business Description

AarhusKarlshamn Denmark A/S is primarily engaged in retailing miscellaneous specialty foods (except meat, fish, seafood, fruit and vegetables, confections, nuts, popcorn, and baked goods) not for immediate consumption and not made on the premises.

 

More Business Descriptions

Starch and Vegetable Fats and Oils Manufacturing

 

Financial Data

Financials in:

DKK(mil)

 

Revenue:

1,802.7

Net Income:

0.3

Assets:

1,770.6

Total Liabilities:

0.0

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

NA

 

Key Corporate Relationships

Bank:

Giro Account 9012222

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

AarhusKarlshamn Denmark A/S

AarhusKarlshamn Denmark A/S 
Total Corporate Family Members: 19 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Aarhus United A/S

Parent

 

 

 

 

 

AarhusKarlshamn AB

Subsidiary

Malmo

Sweden

Food Processing

2,061.2

2,096

AarhusKarlshamn Sweden AB, Business Area Technical Products & Feed, AAK

Subsidiary

Karlshamn,

Sweden

Photography

639.1

548

AarhusKarlshamn Sweden AB

Subsidiary

Karlshamn, Blekinge

Sweden

Retail (Grocery)

639.1

548

Binol AB

Subsidiary

Karlshamn, Blekinge

Sweden

 

14.7

20

Aarhuskarlshamn UK Ltd.

Subsidiary

Hull

United Kingdom

Food Processing

480.4

518

Book&Claim Ltd.

Subsidiary

Hull

United Kingdom

Business Services

2.0

 

Nutritionelle Ltd.

Subsidiary

Hull

United Kingdom

Miscellaneous Capital Goods

 

 

Midsummer Foods Ltd.

Subsidiary

Hull

United Kingdom

Food Processing

 

 

Karlshamns UK Holdings PLC

Subsidiary

Hull

United Kingdom

Commercial Banks

 

518

Aarhuskarlshamn Hull Ltd.

Subsidiary

Hull

United Kingdom

Food Processing

 

350

Karlshamns International PLC

Subsidiary

Hull

United Kingdom

Nonclassifiable Industries

 

 

AarhusKarlshamn Denmark A/S

Branch

Ã…rhus C

Denmark

Food Processing

320.6

450

Aarhuskarlshamn México, S.A. de C.V.

Subsidiary

Morelia, Michoacán

Mexico

Food Processing

30.0

325

AarhusKarlshamn Netherlands BV

Subsidiary

Zaandijk

Netherlands

Food Processing

52.7

65

Aarhuskarlshamn Asia-Pacific Sdn Bhd

Subsidiary

Kuala Lumpur, Wilayah Persekutuan

Malaysia

Miscellaneous Capital Goods

52.5

17

Kelanco Ltd.

Subsidiary

Birkenhead

United Kingdom

Food Processing

 

 

Croda Food Services Ltd.

Subsidiary

Oldham

United Kingdom

Nonclassifiable Industries

 

 

Rapsona AB

Subsidiary

Jarfalla

Sweden

Food Processing

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Kjeld Ranum

 

Bestyrelsesformand

Chairman

 

Arne Alexander Frank

 

Bestyrelsesformand

Director/Board Member

 

Jan Astrup

 

Managing Director / Director, Board Member

Director/Board Member

 

Anders Gustaf Bystrom

 

Bestyrelsesnæstformand

Director/Board Member

 

Michael Skriver

 

Finance Manager, Board Member

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Erik Hojsholt

 

Koncernchef

Chief Executive Officer

 

Jorgen Balle

 

President

President

 

Torben Friis Lange

 

Vice President - Chocolate & Confectionery Fats

Division Head Executive

 

Jan Astrup

 

Managing Director / Director, Board Member

Managing Director

 

Tom B. Christiansen

 

Miljo & sikkerhedchef

Environment/Safety Executive

 

Birte Thorsen

 

Sekretær

Company Secretary

 

Michael Skriver

 

Finance Manager, Board Member

Finance Executive

 

Mogens Stoustrup

 

Finanschef

Finance Executive

 

Esben Vibe

 

Finansdirektor

Finance Executive

 

Tommy Thansky

 

Investor Relationschef

Investment Executive

 

Stella Skovgaard

 

Personaleudviklingchef

Human Resources Executive

 

Mogens Sondergaard

 

Personaledirektor

Human Resources Executive

 

Steffen Stoorgard

 

Sales Director

Sales Executive

 

Jakob Thuisen

 

Salgsdirektor

Sales Executive

 

Lars Gravholt

 

Marketing chef

Marketing Executive

 

Karsten Nielsen

 

Marketing / Communication Executive

Marketing Executive

 

Lene Vad Pedersen

 

Marketingassistent

Marketing Executive

 

Henrik Amsinck

 

IT chef

Information Executive

 

Asger Johnsen

 

IT Manager

Information Executive

 

Linda Hansen

 

Technical Manager

Engineering/Technical Executive

 

Benny Jakobsen

 

Teknisk chef

Engineering/Technical Executive

 

Palle Jensen

 

Production Director

Product Management Executive

 

Ole J. Engelholm

 

Shippingdirektor

Logistics Executive

 

Knud Larsson

 

Strategic sourcing

Purchasing Executive

 

Henrik Poulsen

 

Indkobschef

Purchasing Executive

 

Jesper Korning

 

Kvalitetschef

Quality Executive

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

DKK

DKK

DKK

Exchange Rate (Period Average)

5.623146

5.354263

5.097335

Consolidated

No

No

No

 

 

 

 

Total Revenue

320.6

358.1

524.8

Gross Profit

52.4

70.4

111.5

Operating Income

0.6

8.0

51.6

Net Income

0.1

-1.3

30.5

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

DKK

DKK

DKK

Exchange Rate

5.55485

5.18625

5.35465

Consolidated

No

No

No

 

 

 

 

Total Assets

318.7

346.9

433.5

Provisions

7.2

7.8

6.9

Total Liabilities

-

220.1

310.1

Total Equity

111.1

118.9

116.4

 

 

Annual Ratios

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

0.19

2.22

9.83

Current Ratio

158.95

263.13

254.49

Total debt/total equity

34.85

34.28

26.86

Return on average equity

0.05

-

24.96

 

Annual Growth Rates

 

 

 

 

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

-5.97%

-28.33%

Marginal Contribution Percent Change

-21.89%

-33.70%

Operating Results Percent Change

-92.02%

-83.80%

Profit/Loss for the Year Percent Change

104.41%

-104.37%

Assets Percent Change

-1.57%

-22.50%

Provisions Percent Change

-1.97%

9.14%

Debts Percent Change

-

-31.25%

Equity Capital Percent Change

0.05%

-1.09%

Operating Margin Percent Change

-91.44%

-77.42%

Current Ratio Percent Change

-39.59%

3.40%

Debt/Equity Ratio Percent Change

1.66%

27.62%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.72

UK Pound

1

Rs.82.71

Euro

1

Rs.68.90

 

 

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

----

NB

New Business

----

 

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.