MIRA INFORM REPORT

 

 

Report Date :

04.08.2012

 

IDENTIFICATION DETAILS

 

Name :

FLEXO WASH APS

 

 

Registered Office :

Grenavej 631 C, Skodstrup, 8541

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

15383348

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Subject is engaged in manufacturing and packaging polishes and specialty cleaning preparations

 

 

No. of Employees :

10

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

Flexo Wash ApS

Grenavej 631 C

Skodstrup, 8541

Denmark

Tel:       +45 86 99 36 31

Fax:      +45 86 99 13 43

Web:    www.flexowash.com

 

 

synthesis  

 

Employees:                  10

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            Flexo Wash Holding ApS

Incorporation Date:         1991   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Danish Krone

Annual Sales:               0.0

Net Income:                  0.5

Total Assets:                5.1

 

 

Business Description     

 

Flexo Wash ApS is primarily engaged in manufacturing and packaging polishes and specialty cleaning preparations.

 

Industry

Industry            Personal and Household Products

ANZSIC 2006:    1851 - Cleaning Compound Manufacturing

NACE 2002:      2451 - Manufacture of soap and detergents, cleaning and polishing preparations

NAICS 2002:     325612 - Polish and Other Sanitation Good Manufacturing

UK SIC 2003:    24512 - Manufacture of cleaning and polishing preparations

US SIC 1987:    2842 - Specialty Cleaning, Polishing, and Sanitation Preparations

 

           


Key Executives   

 

Name

Title

Lars Conradsen Kongstad

Managing Director / Director

Henning Kongstad

Managing Director / Director

 

Registered No.(DNK): 15383348

 

1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.358236

2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.72535

 

 

Corporate Overview

 

Location

Grenavej 631 C

Skodstrup, 8541

Denmark

Tel:       +45 86 99 36 31

Fax:      +45 86 99 13 43

Web:    www.flexowash.com

           

Sales DKK(mil):             0.0

Assets DKK(mil):           28.9

Employees:                   10

Fiscal Year End:            31-Dec-2011

Industry:                        Personal and Household Products

Incorporation Date:         1991

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(DNK):     15383348

Managing Director

 / Director:                     Lars Conradsen Kongstad

 

Contents

Industry Codes

Business Description

Financial Data

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1851     -          Cleaning Compound Manufacturing

185       -          Cleaning Compound and Toiletry Preparation Manufacturing

 

NACE 2002 Codes:

2451     -          Manufacture of soap and detergents, cleaning and polishing preparations

245       -          Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations

 

NAICS 2002 Codes:

32561   -          Soap and Cleaning Compound Manufacturing

325611  -          Soap and Other Detergent Manufacturing

3256     -          Soap, Cleaning Compound, and Toilet Preparation Manufacturing

325612  -          Polish and Other Sanitation Good Manufacturing

 

US SIC 1987:

2841     -          Soap and Other Detergents, Except Specialty Cleaners

284       -          Soap, Detergents, and Cleaning Preparations

2842     -          Specialty Cleaning, Polishing, and Sanitation Preparations

 

UK SIC 2003:

24511   -          Manufacture of soap and detergents

24512   -          Manufacture of cleaning and polishing preparations

245       -          Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations

 

 

Business Description

Flexo Wash ApS is primarily engaged in manufacturing and packaging polishes and specialty cleaning preparations.

 

Financial Data

Financials in:

DKK(mil)

 

Revenue:

0.0

Net Income:

2.9

Assets:

28.9

Total Liabilities:

0.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

NA

NA

 

 

 

Corporate Family

Corporate Structure News:

 

Flexo Wash ApS

Flexo Wash ApS 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Flexo Wash Holding ApS

Parent

 

 

 

 

 

Flexo Wash ApS

Subsidiary

Skødstrup

Denmark

Personal and Household Products

0.0

10

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Lars Conradsen Kongstad

 

Managing Director / Director

Managing Director

 

Henning Kongstad

 

Managing Director / Director

Managing Director

 

 

 

Annual Profit & Loss

 

                                                                                      

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

DKK

DKK

DKK

Exchange Rate (Period Average)

5.358236

5.623146

5.354263

Consolidated

No

No

No

 

 

 

 

Gross Profit

2.7

2.3

1.9

Operating Income

0.7

0.8

0.5

Net Income

0.5

0.6

0.3

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

                                                                                      

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

DKK

DKK

DKK

Exchange Rate

5.72535

5.55485

5.18625

Consolidated

No

No

No

 

 

 

 

Total Assets

5.1

3.5

3.1

Provisions

0.0

0.0

-

Total Liabilities

-

-

1.4

Total Equity

2.5

2.1

1.7

 

 

Annual Ratios

 

                                                                                      

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Current Ratio

194.32

254.43

217.62

Total debt/total equity

49.21

61.73

54.74

Return on average equity

20.62

27.91

20.66

 

 

Annual Growth Rates

 

                                                                                      

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Marginal Contribution Percent Change

12.79%

28.29%

Operating Results Percent Change

-12.53%

64.46%

Profit/Loss for the Year Percent Change

-11.62%

80.98%

Assets Percent Change

50.04%

18.85%

Provisions Percent Change

340.00%

-

Equity Capital Percent Change

19.62%

34.02%

Current Ratio Percent Change

-23.63%

16.91%

Debt/Equity Ratio Percent Change

-20.28%

12.77%

Retun On Equity Percent Change

-26.12%

35.09%

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.08

UK Pound

1

Rs.87.03

Euro

1

Rs.68.36

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.