MIRA INFORM REPORT

 

 

Report Date :

20.09.2012

 

IDENTIFICATION DETAILS

 

Name :

VILA AS  

 

 

Registered Office :

Stilling Kirkevej 10, Stilling, Skanderborg, 8660

 

 

Country :

Denmark

 

 

Financials (as on) :

31.07.2011

 

 

Year of Establishment :

1982

 

 

Com. Reg. No.:

67756819

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

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

 

 

No. of Employees :

28

 

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 – 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

 

 

DENMARK - ECONOMIC OVERVIEW

 

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards of living in the world and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, continued to decline in 2011 though at a slower pace. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.8% in 2008 and 5.8% in 2009. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-11, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government plans to deliver a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU at 46.5% of GDP in 2011. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.

Source : CIA

 

Company name & address 

 

Vila A/S 

Stilling Kirkevej 10, Stilling

Skanderborg, 8660

Denmark

Tel:       +45 99 42 39 00

Fax:      +45 99 42 39 01

Web:    www.vila.dk

 

 

Registration data     

 

Employees:                  28

Company Type:            Private Independent

Incorporation Date:         1982   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Jul-2011

Reporting Currency:       Danish Krone

Annual Sales:               207.5

Net Income:                  22.9

Total Assets:                101.8

 

 

Business Description     

 

Vila 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            Personal and Household Products

ANZSIC 2006:    3711 - Textile Product Wholesaling

NACE 2002:      5141 - Wholesale of textiles

NAICS 2002:     424310 - Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

UK SIC 2003:    5141 - Wholesale of textiles

US SIC 1987:    5131 - Piece Goods, Notions, and Other Dry Good

 

           

Key Executives   

 

Name

Title

Anders Holch Povlsen

Managing Director / Director, Board Member

Finn Poulsen

Board Member

Erik Weibel

Board Member

 

 

News

 

Title

Date

Football: Spain v France starting line-ups
Agence France-Presse (86 Words)

23-Jun-2012

Travel: Expert'sTips: How To Do ... Ibiza on a budget: In the latest in our new series of How To Do ... features, blogger Maya Claughton reveals the secrets to enjoying the best bits of the stylish party island without parting with wads of cash
Guardian (UK) (2325 Words)

23-Jun-2012

CITYSNAP
South Wales Echo (UK) (511 Words)

23-Jun-2012

TelefĂ´nica|Vivo and Ericsson bring wireless access to education for community in Rio de Janeiro
PressWIRE (1011 Words)

21-Jun-2012

Scientists at University of Tras-os-Montes and Alto Douro Release New Data on Nitrogen
Global Warming Focus (351 Words)

20-Jun-2012

 

Registered No.(DNK):                 67756819

 

1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.423659

2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.18495

 

 

Corporate Overview

 

Location

Stilling Kirkevej 10, Stilling

Skanderborg, 8660

Denmark

Tel:       +45 99 42 39 00

Fax:      +45 99 42 39 01

Web:    www.vila.dk

           

Sales DKK(mil):             1,125.2

Assets DKK(mil):           527.7

Employees:                   28

Fiscal Year End:            31-Jul-2011

Industry:                        Personal and Household Products

Incorporation Date:         1982

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(DNK):     67756819

 

Managing Director

 / Director, Board Member:          Anders Holch Povlsen

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

3711     -          Textile Product Wholesaling

371       -          Textile, Clothing and Footwear Wholesaling

 

NACE 2002 Codes:

514       -          Wholesale of household goods

5141     -          Wholesale of textiles

 

NAICS 2002 Codes:

4243     -          Apparel, Piece Goods, and Notions Merchant Wholesalers

424310  -          Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

42431   -          Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

 

US SIC 1987:

513       -          Apparel, Piece Goods, and Notions

5131     -          Piece Goods, Notions, and Other Dry Good

 

UK SIC 2003:

5141     -          Wholesale of textiles

514       -          Wholesale of household goods

 

Business Description

Vila 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.

 

Financial Data

Financials in:

DKK(mil)

 

Revenue:

1,125.2

Net Income:

124.0

Assets:

527.7

Total Liabilities:

0.0

 

 

 

Date of Financial Data:

31-Jul-2011

 

1 Year Growth

NA

NA

NA

 

 

 

 

Executive report

 

 

Board of Directors

 

Name

Title

Function

 

Anders Holch Povlsen

 

Managing Director / Director, Board Member

Director/Board Member

 

Finn Poulsen

 

Board Member

Director/Board Member

 

Erik Weibel

 

Board Member

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Anders Holch Povlsen

 

Managing Director / Director, Board Member

Managing Director

 

 

 

Annual Profit & Loss

 

 

 

31-Jul-2011

31-Jul-2010

31-Jul-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

DKK

DKK

DKK

Exchange Rate (Period Average)

5.423659

5.415394

5.495619

Consolidated

Yes

Yes

Yes

 

 

 

 

Total Revenue

207.5

178.6

116.3

Gross Profit

49.2

64.7

34.6

Operating Income

29.1

37.0

15.8

Net Income

22.9

30.6

10.4

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Jul-2011

31-Jul-2010

31-Jul-2009

Filed Currency

DKK

DKK

DKK

Exchange Rate

5.18495

5.71955

5.25185

Consolidated

Yes

Yes

Yes

 

 

 

 

Total Assets

101.8

96.3

59.5

Provisions

0.4

0.3

0.2

Total Liabilities

-

-

31.3

Total Equity

32.5

34.0

28.0

 

Annual Ratios

 

 

 

31-Jul-2011

31-Jul-2010

31-Jul-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

Yes

Yes

Yes

 

 

 

 

Operating Margin

14.01

20.69

13.60

Current Ratio

139.43

151.97

185.48

Total debt/total equity

31.94

35.32

47.08

Return on average equity

73.59

85.15

38.90

 

 

Annual Growth Rates

 

 

 

 

31-Jul-2010

31-Jul-2009

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

Yes

Yes

 

 

 

Turnover Percent Change

16.35%

51.31%

Marginal Contribution Percent Change

-23.89%

84.32%

Operating Results Percent Change

-21.22%

130.19%

Profit/Loss for the Year Percent Change

-25.10%

189.58%

Assets Percent Change

-4.16%

76.34%

Provisions Percent Change

13.63%

83.20%

Equity Capital Percent Change

-13.33%

32.27%

Operating Margin Percent Change

-32.29%

52.13%

Current Ratio Percent Change

-8.25%

-18.07%

Debt/Equity Ratio Percent Change

-9.57%

-24.98%

Return On Equity Percent Change

-13.58%

118.89%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.26

UK Pound

1

Rs.88.14

Euro

1

Rs.71.03

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

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.