MIRA INFORM REPORT

 

 

Report Date :           

04.10.2011

 

IDENTIFICATION DETAILS

 

Name :

LENE BJERRE DESIGN AS

 

 

Registered Office :

Skalhuse 10, Nibe, 9240

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1985    

 

 

Com. Reg. No.:

77885315

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

manufacturing innerspring, box spring, and noninnerspring mattresses, including mattresses for waterbeds

 

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 :

Usually Correct 

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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 

 

Lene Bjerre Design A/S

Skalhuse 10

Nibe, 9240

Denmark

Tel:       +45 96 71 21 00

Fax:      +45 96 71 21 39

Web:    www.lenebjerre.dk

 

           

Synthesis

 

Employees:                  50

Company Type:             Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            LBD Holding A/S

Incorporation Date:         1985   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Danish Krone

Annual Sales:               0.0

Net Income:                  0.2

Total Assets:                 10.8

 

 

Business Description     

 

Lene Bjerre Design A/S is primarily engaged in manufacturing innerspring, box spring, and noninnerspring mattresses, including mattresses for waterbeds.

 

Industry

Industry            Furniture and Fixtures

ANZSIC 2006:    2513 - Mattress Manufacturing

NACE 2002:      3615 - Manufacture of mattresses

NAICS 2002:     337910 - Mattress Manufacturing

UK SIC 2003:    3615 - Manufacture of mattresses

US SIC 1987:    2515 - Mattresses, Foundations, and Convertible Beds

 

           


Key Executives   

 

Name

Title

Bjarne Lunde Skov Poulsen

Managing Director / Director, Board Member

Brian Frimor

Økonomichef

Claus Møller

Executive Vice President

Rikke Holm Andersen

Purchasing Executive

Suzanne Annette Faurskov Sand Poulsen

Board Member

 

Registered No.(DNK): 77885315

 

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

Skalhuse 10

Nibe, 9240

Denmark

Tel:       +45 96 71 21 00

Fax:      +45 96 71 21 39

Web:    www.lenebjerre.dk

           

Sales DKK(mil):             0.0

Assets DKK(mil):           60.3

Employees:                   50

Fiscal Year End:            31-Dec-2010

Industry:                        Furniture and Fixtures

Incorporation Date:         1985

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(DNK):     77885315

Managing Director /

Director,

Board Member:              Bjarne Lunde Skov Poulsen

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

 

 

 

Industry Codes

 

ANZSIC 2006 Codes:

133       -          Textile Product Manufacturing

2432     -          Electric Lighting Equipment Manufacturing

2431     -          Electric Cable and Wire Manufacturing

1333     -          Cut and Sewn Textile Product Manufacturing

2240     -          Sheet Metal Product Manufacturing (except Metal Structural and Container Products)

2513     -          Mattress Manufacturing

1334     -          Textile Finishing and Other Textile Product Manufacturing

2511     -          Wooden Furniture and Upholstered Seat Manufacturing

2299     -          Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

2439     -          Other Electrical Equipment Manufacturing

 

NACE 2002 Codes:

1740     -          Manufacture of made-up textile articles, except apparel

3150     -          Manufacture of lighting equipment and electric lamps

2875     -          Manufacture of other fabricated metal products not elsewhere classified

2861     -          Manufacture of cutlery

3615     -          Manufacture of mattresses

175       -          Manufacture of other textiles

3120     -          Manufacture of electricity distribution and control apparatus

1754     -          Manufacture of other textiles not elsewhere classified

3611     -          Manufacture of chairs and seats

 

NAICS 2002 Codes:

314121  -          Curtain and Drapery Mills

335129  -          Other Lighting Equipment Manufacturing

31412   -          Curtain and Linen Mills

335110  -          Electric Lamp Bulb and Part Manufacturing

314129  -          Other Household Textile Product Mills

335931  -          Current-Carrying Wiring Device Manufacturing

3351     -          Electric Lighting Equipment Manufacturing

332214  -          Kitchen Utensil, Pot, and Pan Manufacturing

337910  -          Mattress Manufacturing

314999  -          All Other Miscellaneous Textile Product Mills

337121  -          Upholstered Household Furniture Manufacturing

3141     -          Textile Furnishings Mills

33511   -          Electric Lamp Bulb and Part Manufacturing

332211  -          Cutlery and Flatware (except Precious) Manufacturing

33791   -          Mattress Manufacturing

 

US SIC 1987:

2399     -          Fabricated Textile Products, Not Elsewhere Classified

2392     -          House furnishing, Except Curtains and Draperies

3641     -          Electric Lamp Bulbs and Tubes

2512     -          Wood Household Furniture, Upholstered

3643     -          Current-Carrying Wiring Devices

2391     -          Curtains and Draperies

3469     -          Metal Stampings, Not Elsewhere Classified

239       -          Miscellaneous Fabricated Textile Products

3421     -          Cutlery

2515     -          Mattresses, Foundations, and Convertible Beds

3648     -          Lighting Equipment, Not Elsewhere Classified

364       -          Electric Lighting and Wiring Equipment

 

UK SIC 2003:

175       -          Manufacture of other textiles

17403   -          Manufacture of household textiles

1754     -          Manufacture of other textiles not elsewhere classified

3611     -          Manufacture of chairs and seats

1740     -          Manufacture of made-up textile articles, except apparel

3150     -          Manufacture of lighting equipment and electric lamps

3120     -          Manufacture of electricity distribution and control apparatus

2861     -          Manufacture of cutlery

3615     -          Manufacture of mattresses

2875     -          Manufacture of other fabricated metal products not elsewhere classified

 

Business Description

Lene Bjerre Design A/S is primarily engaged in manufacturing innerspring, box spring, and noninnerspring mattresses, including mattresses for waterbeds.

 

Financial Data

Financials in:

DKK(mil)

 

Revenue:

0.0

Net Income:

1.0

Assets:

60.3

Total Liabilities:

0.0

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

NA

 

 

 

Corporate Family

Corporate Structure News:

 

Lene Bjerre Design A/S

Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

LBD Holding A/S

Parent

 

 

 

 

 

 

Lene Bjerre Design A/S

Subsidiary

Nibe

Denmark

Furniture and Fixtures

0.0

50

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Suzanne Annette Faurskov Sand Poulsen

 

Board Member

Director/Board Member

 

Kurt Bruno Christensen

 

Bestyrelsesformand

Director/Board Member

 

Per Buus

 

Board Member

Director/Board Member

 

Bjarne Lunde Skov Poulsen

 

Managing Director / Director, Board Member

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Bjarne Lunde Skov Poulsen

 

Managing Director / Director, Board Member

Managing Director

 

Brian Frimor

 

Økonomichef

Finance Executive

 

Claus Møller

 

Executive Vice President

Sales Executive

 

Rikke Holm Andersen

 

Purchasing Executive

Purchasing Executive

 

Karsten Jensen

 

Purchasing Executive

Purchasing 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

 

 

 

 

Gross Profit

3.8

3.3

4.2

Operating Income

0.7

-0.5

-1.2

Net Income

0.2

-0.6

-1.3

 

 

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

10.8

10.7

11.4

Provisions

-

-

0.0

Total Liabilities

-

9.1

9.3

Total Equity

1.7

1.5

2.1

 

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

 

 

 

 

Current Ratio

119.89

114.93

120.50

Total debt/total equity

15.36

14.53

18.59

Return on average equity

11.33

-

-

 

 

Annual Growth Rates

 

 

 

 

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Marginal Contribution Percent Change

21.00%

-16.88%

Operating Results Percent Change

265.33%

59.68%

Profit/Loss for the Year Percent Change

131.68%

48.53%

Assets Percent Change

9.00%

-9.39%

Provisions Percent Change

-

-100.00%

Debts Percent Change

-

-4.86%

Equity Capital Percent Change

15.27%

-29.19%

Current Ratio Percent Change

4.32%

-4.62%

Debt/Equity Ratio Percent Change

5.71%

-21.84%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.42

UK Pound

1

Rs.76.72

Euro

1

Rs.65.85

 

 

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.