MIRA INFORM REPORT

 

 

Report Date :

04.01.2011

 

IDENTIFICATION DETAILS

 

Name :

LM WIND POWER AS

 

 

Registered Office :

Jupitervej 6, 6000 Kolding

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

21.02.1985

 

 

Com. Reg. No.:

76490511 A/S

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of engines and turbines, except aircra

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Estimated DK 10.000.000

Status :

Good

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                    LM WIND POWER A/S

Main address                 JUPITERVEJ 6

City                              6000 KOLDING

Country                        Denmark

Phone-no.                     +45-79-840000

Fax-no.                         +45-79-840001

ID-/Reg.-no.                   76490511 A/S

Legal form                     Limited company

Company Status            Active

Latest change                2010-12-13

 

 

Activity

 

Activity             28.11 Manufacture of engines and turbines, except aircra

 

No of employees empl 2084

 

 

Management        

 

Management                 ROLAND MIKAEL SUNDEN (Managing director)

                                    DOMINIQUE ROBERT DE LISLE YATES

 

Board of directors           SØREN HØFFER (Chairman of the board)

                                    MIGUEL ANGEL BALBUENA GOMEZ (Member of the board)

                                    OLE BERTELSEN (Member of the board)

                                    THOMAS ENGELSTOFT LINDHARTH (Member of the board)

 

 

Historical Data

 

Established          1984

 

Registered           1985-02-21

 

Credit Facilities

 

Bankers        NORDEA BANK DANMARK A/S ERHVERVSAFDELINGEN

                     - RENDEBANEN 13 6

 

 

Financial data

 

Currency             Danish Krone

 

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

 

Source                      Ann. report       Ann. report       Ann. report

 

Turnover                  1.800.038.000     2.356.208.000     1.753.228.000

Costs                     1.657.157.000     2.036.496.000     1.763.811.000

Ordinary result             274.683.000       562.342.000        -6.968.000

Tax                          23.677.000       136.096.000        21.265.000

Annual result               251.006.000       426.246.000       -28.233.000

 

<* Assets *>

Fixed assets                846.326.000       712.223.000       523.810.000

Current assets            3.140.625.000     3.030.756.000     2.140.090.000

 

<* Liabilities *>

Equity capital            1.702.600.000     1.450.767.000     1.047.473.000

Share capital                10.000.000        10.000.000        10.000.000

Long-term debts             648.133.000       667.179.000       594.250.000

Short-term debts          1.384.670.000     1.499.363.000       767.884.000

 

<* Company Ratios *>

Gearing I                        237,40            293,35            260,12

Acid test ratio I                226,81            202,14            278,70

Acid test ratio II               212,35            188,91            265,34

Return on investment               3,58              8,54             -0,40

Return on equity                  16,13             38,76             -0,67

Solvency ratio                    42,70             38,76             39,32

 

 

Property

 

Property             Yes

 

Property ass. value  1.366.000 (Annual report)

 

Mortgaging I         No

 

Shareholder          LM GLASFIBER ESPANOLA S.A. (Shareholder)

 

 

Corporate Structure

 

 

Subsidiaries              4305825 CANADA INC (100%)

                     LM WIND POWER SERVICE (POLAND) SP. Z.O.O (100%)

                     LM WIND POWER BLADS (POLAND) SP. Z O.O (100%)

                     LM WIND POWER R&D (HOLLAND) B.V. (100%)

                     LM WIND POWER SERVICES (DEUTSHLAND) GMBH (100%)

                     LM WIND POWER PLADES (CANADA) INC. (100%)

                     LM WIND POWER BLADES (ND) INC. (100%)

                     LM WIND POWER BLADES (TIANJIN) CO. LTD. (100%)

                     LM WIND POWER BLADES (INDIA) PRIVATE LTD. (100%)

                     LM WIND POWER TECHNOLOGIES (INDIA) PRIVATE LTD.

                     - (100%)

                     LM WIND POWER (ARKANSAS) INC. (100%)

                     LM WIND POWER BLADES (XINJANG) CO. LTD. (100%)

                     LM WIND POWER BLADES (QINHUANGDAO) CO. LTD. (100%)

 

Secondary names(s)   LM GLASFIBER A/S

 

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Credit limit         Estimated DK 10.000.000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.67

UK Pound

1

Rs.69.45

Euro

1

Rs.59.37

 

 

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.