MIRA INFORM REPORT

 

 

Report Date :           

31.12.2011

 

IDENTIFICATION DETAILS

 

Name :

JYSK AS

 

 

Registered Office :

Sodalsparken 18, Brabrand, 8220

 

 

Country :

Denmark

 

 

Financials (as on) :

31.08.2010

 

 

Year of Establishment :

1979

 

 

Com. Reg. No.:

13590400

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

merchant wholesale distribution of piece goods, fabrics, knitting yarns (except industrial), thread and other notions, and/or hair accessories

 

 

No. of Employees :

1,304

 

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 

 

Jysk A/S

Sødalsparken 18

Brabrand, 8220

Denmark

Tel:       45 89 39 75 00

Fax:      45 89 39 75 01

Web:    www.jysk.com

 

 

 

synthesis

           

Employees:                  1,304

Company Type:            Private Subsidiary

Corporate Family:          7 Companies

Ultimate Parent:             Jysk Holding A/S

Incorporation Date:         1979   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Aug-2009

Reporting Currency:       Danish Krone

Annual Sales:               524.5

Total Assets:                 NA

 

 

Business Description     

 

Jysk A/S is primarily engaged in the merchant wholesale distribution of piece goods, fabrics, knitting yarns (except industrial), thread and other notions, and/or hair accessories.

 

Industry             

Industry            Retail (Specialty)

ANZSIC 2006:    4211 - Furniture Retailing

NACE 2002:      5244 - Retail sale of furniture, lighting equipment and household articles not elsewhere classified

NAICS 2002:     442110 - Furniture Stores

UK SIC 2003:    5244 - Retail sale of furniture, lighting equipment and household articles not elsewhere classified

US SIC 1987:    5712 - Furniture Stores

 

           


Key Executives   

 

Name

Title

Jan Bogh

Administrerende direktor

Hans Henrik Kjølby

Direktor-Holding

Uffe Christensen

Okonomichef-Jysk Danmark

Mie Krog

Marketing chef

Jens Stougaard Fredriksen

IT direktor

 

 

news

 

Title

Date

Danish JYSK Opens First Store in Macedonian Capital - Media
SeeNews (126 Words)

18-Nov-2011

Partners REIT Expands Presence into Alberta and in Quebec
Filing Services Canada (940 Words)

15-Nov-2011

Research and Markets: Future of Kitchen Products in the Netherlands to 2015: Market Profile
Business Wire (333 Words)

10-Nov-2011

Bedding/Furniture Retailer JYSK Plans To Open Around 20 Stores in Bosnia
SeeNews (132 Words)

3-Nov-2011

Research and Markets: Future of Bathroom Products in the Netherlands to 2015: Market Profile
Business Wire (390 Words)

20-Oct-2011

 

Registered No.(DNK): 13590400

 

1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.516123

2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.18685

 

 

Corporate Overview

 

Location

Sodalsparken 18

Brabrand, 8220

Denmark

Tel:       45 89 39 75 00

Fax:      45 89 39 75 01

Web:    www.jysk.com

           

Sales DKK(mil):             2,893.0

Assets DKK(mil):           NA

Employees:                   1,304

Fiscal Year End:            31-Aug-2009

Industry:                        Retail (Specialty)

Incorporation Date:         1979

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(DNK):     13590400

Administrerende direktor:            Jan Bogh

 

Contents

·         Industry Codes

·         Business Description

·         Brand/Trade Names

·         Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

4214     -          Manchester and Other Textile Goods Retailing

3731     -          Furniture and Floor Covering Wholesaling

4211     -          Furniture Retailing

 

NACE 2002 Codes:

5147     -          Wholesale of other household goods

5244     -          Retail sale of furniture, lighting equipment and household articles not elsewhere classified

 

NAICS 2002 Codes:

442291  -          Window Treatment Stores

423210  -          Furniture Merchant Wholesalers

442110  -          Furniture Stores

 

US SIC 1987:

5021     -          Furniture

5712     -          Furniture Stores

5714     -          Drapery, Curtain, and Upholstery Stores

 

UK SIC 2003:

5244     -          Retail sale of furniture, lighting equipment and household articles not elsewhere classified

51471   -          Wholesale of furniture

 

Business Description

Retail and wholesale trade in beds, furniture and textiles

 

More Business Descriptions

·         Jysk A/S is primarily engaged in the merchant wholesale distribution of piece goods, fabrics, knitting yarns (except industrial), thread and other notions, and/or hair accessories.

·         Other Cut and Sew Apparel Manufacturing

 

Brand/Trade Names

JYSK

 

 

Financial Data

Financials in:

DKK(mil)

 

Revenue:

2,893.0

 

Date of Financial Data:

31-Aug-2009

1 Year Growth

NA

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Jysk Holding A/S
Jysk A/S

Jysk A/S 
Total Corporate Family Members: 7 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Jysk Holding A/S

Parent

Brabrand

Denmark

Retail (Specialty)

1,368.6

 

 

Jysk A/S

Subsidiary

Brabrand

Denmark

Retail (Specialty)

524.5

1,304

 

Jysk Baddlager AB

Subsidiary

Arlov

Sweden

Apparel and Accessories

125.0

 

 

Dänisches Bettenlager GmbH und Co KG

Subsidiary

Handewitt

Germany

Furniture and Fixtures

1,070.6

4,000

 

Bettenwelt GmbH & Co. KG

Subsidiary

Handewitt, Schleswig-Holstein

Germany

Miscellaneous Capital Goods

463.2

320

 

Jysk AB

Subsidiary

Arlov

Sweden

Retail (Specialty)

342.4

1,087

 

Jysk AS

Subsidiary

Oslo

Norway

Furniture and Fixtures

224.6

717

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Lars Larsen

 

Ejer

Chairman

 

Lars Kristinus Larsen

 

Bestyrelsesformand

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Jan Bogh

 

Administrerende direktor

Chief Executive Officer

 

Hans Henrik Kjølby

 

Direktor-Holding

President

 

Carsten Hougaard

 

Sikkerhedschef

Environment/Safety Executive

 

Uffe Christensen

 

Okonomichef-Jysk Danmark

Accounting Executive

 

Henrik Naundrup

 

Okonomidirektor

Treasurer

 

Jesper Kalleso

 

Personaledirektor

Human Resources Executive

 

Lise Lotte Kromann

 

Personaletreningschef

Human Resources Executive

 

Jan Verhoek

 

HR Executive

Human Resources Executive

 

Mie Krog

 

Marketing chef

Marketing Executive

 

Kim Nohr Skibsted

 

Kommunikationschef

Corporate Communications Executive

 

Jens Stougaard Fredriksen

 

IT direktor

Information Executive

 

Henrik Johan Nilsen

 

Udviklingschef

Research & Development Executive

 

Henrik Bogelund

 

Logistikdirektor

Logistics Executive

 

Knud Mattiesen

 

Transportchef

Logistics Executive

 

Ole Thomsen

 

Logistikchef-Jysk Danmark

Logistics Executive

 

Jacob Brunsborg

 

Inkobsdirektor

Purchasing Executive

 

Hans Nielsen

 

Purchasing Executive

Purchasing Executive

 

 

 

Annual Profit & Loss

 

 

 

 

31-Aug-2010

31-Aug-2009

31-Aug-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

DKK

DKK

DKK

Exchange Rate (Period Average)

5.462648

5.516123

4.983076

Consolidated

No

No

No

 

 

 

 

Total Revenue

507.4

524.4

592.8

Gross Profit

140.2

130.3

158.4

Operating Income

47.1

45.8

67.7

Net Income

36.5

29.1

50.9

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Aug-2010

31-Aug-2009

31-Aug-2008

Filed Currency

DKK

DKK

DKK

Exchange Rate

5.8571

5.18685

5.06545

Consolidated

No

No

No

 

 

 

 

Total Assets

215.0

253.4

320.6

Provisions

1.0

1.0

-

Total Liabilities

-

133.5

181.3

Total Equity

141.9

118.9

139.3

 

Annual Ratios

 

 

 

 

31-Aug-2010

31-Aug-2009

31-Aug-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

9.29

8.73

11.42

Current Ratio

228.53

147.12

134.30

Total debt/total equity

66.01

46.90

43.46

Return on average equity

24.02

26.06

35.97

 

 

Annual Growth Rates

 

 

 

 

31-Aug-2009

31-Aug-2008

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

-4.17%

-2.08%

Marginal Contribution Percent Change

6.57%

-8.98%

Operating Results Percent Change

1.97%

-25.16%

Profit/Loss for the Year Percent Change

24.25%

-36.73%

Assets Percent Change

-4.21%

-19.07%

Provisions Percent Change

8.57%

-

Debts Percent Change

-

-24.56%

Equity Capital Percent Change

34.81%

-12.66%

Operating Margin Percent Change

6.41%

-23.56%

Current Ratio Percent Change

55.34%

9.55%

Debt/Equity Ratio Percent Change

40.75%

7.92%

Retun On Equity Percent Change

-7.83%

-27.55%

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.27

UK Pound

1

Rs.82.09

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.