MIRA INFORM REPORT

 

 

Report Date :

13.08.2013

 

IDENTIFICATION DETAILS

 

Name :

MOXY-COPENHAGEN APS

 

 

Registered Office :

Prags Boulevard 92 2300 Kobenhavn S

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

05.11.2008

 

 

Com. Reg. No.:

31761603

 

 

Legal Form :

Private limited company - ApS

 

 

Line of Business :

Retail sale of clothing in specialised stores

 

 

No. of Employees :

12 Approximately

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 a high standard of living 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, has since continued to decline. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crisis cut Danish real GDP in 2008-09. 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 2010-12, 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 delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 45% of GDP in 2012. 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

Summary

 

Company name

MOXY-COPENHAGEN APS

Operative address

PRAGS BOULEVARD 92
2300 KOBENHAVN S
Denmark

Status

Active

 

Legal form

Private limited company - ApS

Registration number

Trade register number: 31761603
Trade register number: 31761603

VAT-number

DK31 76 16 03

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

12.455

 

 

 

 

Total receivables

18.348

 18,61

15.469

 26,17

12.260

 

Total equity

19.688

 28,39

15.334

 217,41

-13.060

Short term liabilities

146.117

 16,05

125.904

 -1,48

127.798

 

Net result

4.420

 -84,50

28.517

 227,38

-22.388

 

Working capital

8.705

 -42,73

15.200

 215,21

-13.193

Quick ratio

0,69

 7,81

0,64

 -1,54

0,65


Contact information

 

Company name

MOXY-COPENHAGEN APS

Operative address

PRAGS BOULEVARD 92
2300 KOBENHAVN S
Denmark

Correspondence address

PRAGS BOULEVARD 92
2300 KOBENHAVN S
Denmark

 

Telephone number

+45 32952274

Fax number

+45 32952274

Website

www.moxy-copenhagen.dk

 

Registration

 

Registration number

Trade register number: 31761603
Trade register number: 31761603

VAT-number

DK31 76 16 03

Status

Active

Establishment date

2008-11-05

 

Legal form

Private limited company - ApS

Subscribed share capital

DKK 125.000

 

Activities

 

NACE

Retail sale of clothing in specialised stores (4771)

 

Relations

 

Shareholders

Name: KARINA THOLSTRUP HANSEN
Country: DK
Type: One or more named individuals or families
Share direct: >5.00%

Name: RIKKE MOLGE
Country: DK
Type: One or more named individuals or families
Share direct: >5.00%

 

Management

 

Management

Fullname: Mr. Rikke Molge
Type: Individual
Gender: Male
Country of nationality: Denmark
Address: Denmark
Number of involvements: 1
Function: General Manager
Level of responsibility: Highest executive
Appointment date: 2008/11/05

 

Financial analysis

 

Trend

Fluctuating

Profitability

Nil

Solvability

Limited

Liquidity

Limited

Show amount in

Euro

 

Key figures

 

Year

2012

2011

2010

2009

 

Quick ratio

0,69

0,64

0,65

0,37

 

Current ratio

1,06

1,12

0,90

1,40

 

 

Working capital/ balance total

0,05

0,11

-0,12

0,29

 

Equity / balance total

0,05

0,11

-0,12

0,29

 

Equity / Fixed assets

1,58

 

 

 

 

Solvability

1,14

1,12

0,90

1,40

 

 

Working capital

8.705

15.200

-13.193

9.362

 

Equity

19.688

15.334

-13.060

9.496

 

Mutation equity

28,39

217,41

-237,53

 

 

Mutation short term liabilities

16,05

-1,48

446,01

 

 

 

Return on total assets (ROA)

3,60

27,07

-26,16

-29,79

 

Return on equity (ROE)

30,61

249,13

229,59

-102,81

 

Gross profit margin

2,00

 

-28,67

-30,42

 

Net profit margin

1,12

 

-18,52

-22,50

 

 

Average collection ratio

2,70

 

0,95

1,37

 

Average payment ratio

21,50

 

9,86

5,22

 

Equity turnover ratio

20,04

 

-9,25

3,38

 

Total assets turnover ratio

2,36

 

1,05

0,98

 

Fixed assets turnover ratio

31,68

 

 

 

 

Inventory conversion ratio

7,24

 

3,83

1,33

 

 

Turnover

394.556

 

120.869

32.099

 

Gross margin

31.607

45.196

-34.648

-9.763

 

Operating result

7.902

39.143

-34.648

-9.763

 

Net result after taxes

4.420

28.517

-22.388

-7.222

 

 

Cashflow

5.357

 

 

 

 

EBITDA

8.839

 

 

 

 

Summary

The 2012 financial result structure is a postive working captial of 8.705 euro, which is in agreement with 5 % of the total assets of the company.
The working capital has diminished with -42.73 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2012 was 1.06. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2012 of the company was 0.69. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2011 financial result structure is a postive working captial of 15.200 euro, which is in agreement with 11 % of the total assets of the company.
The working capital has increased with 215.21 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2010 and 2011 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2011 was 1.12. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2011 of the company was 0.64. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

Financial statement

 

Last annual account

2012

Remark annual account

The company is obliged to file its financial statements.

Type of annual account

Corporate

Annual account

MOXY-COPENHAGEN APS
PRAGS BOULEVARD 92
2300 KOBENHAVN S
Denmark

 

Balance

 

Year

2012

2011

2010

2009

 

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

 

Intangible fixed assets

12.455

 

 

 

 

Fixed assets

12.455

 

 

 

 

 

Inventories

54.509

60.800

31.583

24.074

 

Total receivables

18.348

15.469

12.260

6.152

 

Liquid funds

2.679

8.743

800

134

 

Other current assets

79.286

56.092

69.963

2.407

 

Current assets

154.822

141.104

114.605

32.768

 

Total assets

167.278

141.104

114.605

32.768

 

 

Total equity

19.688

15.334

-13.060

9.496

 

Provisions

1.339

 

 

 

 

Accounts payable

 

 

2.399

 

 

Short term liabilities

146.117

125.904

127.798

23.406

 

Total liabilities

167.278

141.104

114.605

32.768

 

 

Summary

 

The total assets of the company increased with 18.55 % between 2011 and 2012.
In 2012 the assets of the company were 7.45 % composed of fixed assets and 92.55 % by current assets. The assets are being financed by an equity of 11.77 %, and total debt of 88.23 %.

The total assets of the company increased with 23.12 % between 2010 and 2011.

 

Profit and loss

 

Year

2012

2011

2010

2009

 

Net turnover

394.556

 

120.869

32.099

 

 

Cost of sales

362.949

 

155.517

41.862

 

Gross margin

31.607

45.196

-34.648

-9.763

 

 

Wages and salaries

22.768

6.053

 

 

 

Amorization and depreciation

938

 

 

 

 

Operating expenses

23.706

6.053

 

 

 

Operating result

7.902

39.143

-34.648

-9.763

 

 

Financial income

536

538

4.931

 

 

Financial expenses

2.411

1.480

267

 

 

Financial result

-1.875

-942

4.664

 

 

Result on ordinary operations before taxes

6.027

38.202

-29.984

-9.763

 

 

Taxation on the result of ordinary activities

1.607

9.685

-7.596

-2.541

 

Result of ordinary activities after taxes

4.420

28.517

-22.388

-7.222

 

 

Net result

4.420

28.517

-22.388

-7.222

 

 

Summary

 

The gross profit of the company decreased by -30.07 % between 2011 and 2012.
The operating result of the company declined with -79.81 % between 2011 and 2012. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -86.7 % of the analysed period, being equal to 2011 % in the year 2012.
The Net Result of the company increased by -84.5 % between 2011 and 2012.
The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -87.71 % of the analysed period, being 30.61 % in the year 2012.
The company's financial profitability has been positively affected by its financial structure.

The gross profit of the company grew with 230.44 % between 2010 and 2011.
The operating result of the company grew with 212.97 % between 2010 and 2011. This evolution implies an increase of the company's economic profitability.
The result of these changes is an increase of the company's Economic Profitability of 203.48 % of the analysed period, being equal to 2010 % in the year 2011.
The Net Result of the company decreased by 227.37 % between 2010 and 2011.
The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of 8.51 % of the analysed period, being 249.13 % in the year 2011.
The company's financial structure has slowed down its financial profitability.

 

Publications

 

Remarks

Status: Active
Category: Small company
Last year: 2012
Turnover last year: 394.556 EUR
Result last year: 4.420 EUR
TOTAL assets last year: 167.278 EUR
Number of employees: 12
Number of shareholders: 2
Number of subsidiaries: 0
Number of branches: 0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.80

UK Pound

1

Rs.94.21

Euro

1

Rs.81.03

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.