MIRA INFORM REPORT

 

 

Report Date :

22.02.2013

 

IDENTIFICATION DETAILS

 

Name :

BON’A PARTE A/S

 

 

Registered Office :

Thrigesvej 2, DK-7430 IKAST

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

1996

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Sale of clothes and accessories through mail order and internet

 

 

No. of Employees :

289

 

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 but 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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

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 DETAILS

                                                                                    

COMPANY’S NAME                          BON’A PARTE A/S

 

ADDRESS                                         Thrigesvej 2

                                                         DK-7430 IKAST

                                                        

TELEPHONE NO                                +45 99 60 60 11

 

TELEFAX NO                                     +45 99 60 60 00

 

EMAIL-ADDRESS                              info@bonaparte.dk

 

LOCAL CURRENCY                           D K K      

 

FOUNDATION                                    1996 under the name Neckermann Danmark ApS,

2003 merger with Bon’A Parte Postshop A/S, at

the same time name change to heading and change of legal form from ApS into A/S.

                                                        

CENTRAL BUSINESS-REG-NO           CVR-No.: 19778649

 

EU-VAT-ID-NO                                   DK 19 77 86 49

 

LEGAL FORM                                    Private limited company

 

SHARE CAPITAL                               DKK 11.000.000,00

 

PARENT COMPANY                          PUCCINI DENMARK ApS, 100 %

 

AUDITORS                                         Ernst & Young P/S

                                                         Jens Ravns Vej 11A

                                                         7100 VEJLE

 

BOARD OF DIRECTORS                    Rainer Stäbler

                                                         Agnesstrasse 3

                                                         DE-80801 MÜNCHEN

 

                                                         Dr. Johann Georg Nolting-Hauff

                                                         Haushoferstr. 1 B

                                                         DE-München

 

                                                         Anton Dürrbeck

                                                         Flössaustr. 120

                                                         DE-FÜRTH

 

MANAGING DIRECTORS                    Bernd Houillon

                                                         Wittreem 3

                                                         DE-22159 HAMBURG

 

AUTHORIZED SIGNATUR                   Chairman jointly with 1 BoD-Member, or 2

                                                         directors jointly.

 

ACTIVITY                                           The main activity of the company is sale of clothes and accessories through mail order and internet in Denmark and through subsidiaries in Denmark, Sweden, the Netherlands, Germany and Switzerland. The Company designs its own clothes, which are produced by a number of sub-suppliers.

                                                        

BRANCHES                                       Sřndre Strandvej 4, 9480 LŘKKEN

                                                         Torvet 7, 5970 ĆRŘSKŘBING

                                                         Lakolk Butikscenter 9, 6792 RŘMŘ

                                                         Eli Christensens Vej 37, 7430 IKAST

                                                         Silkeborgvej 47, 8000 ĹRHUS C

                                                         Blĺvandvej 12, 6857 BLĹVAND

 

TRADENAMES                                  BŘRNETŘJSKOMPAGNIET FUNNY KIDS A/S

                                                         FISTER’S POSTKLUB A/S

                                                         NECKERMANN DANMARK A/S    

 

EMPLOYEES                                    289

 

TURNOVER/COMPANY                      30.09.2008 DKK 226.565.000

                                                         30.09.2009 DKK 232.218.000

                                                         30.09.2010 DKK 228.911.000

                                                         31.12.2010 DKK  46.872.000 (3 months)

                                                         31.12.2011 DKK 223.848.000

 

TURNOVER/GROUP                          30.09.2008 DKK 509.204.000

                                                         30.09.2009 DKK 485.196.000

                                                         30.09.2010 DKK 514.349.000

                                                         31.12.2010 DKK 103.464.000 (3 months)

                                                         31.12.2011 DKK 445.554.000

 

SUBSIDIARIES                                  Bon’A Parte Postshop A/S, Ikast

                                                         Bon’A Parte Postshop AB, Sweden

                                                         Bon’A Parte Postshop B.V., Netherlands

                                                         Bon’A Parte Mode AG, Switzerland

                                                         Bon’A Parte GmbH, Germany

                                                         Bon’a Parte Fashion Limited, England

                                                         all 100 %

 

FINANCIAL STANDING                     The financial standing is orderly. However,     2011 showed  a net loss of DKK

                                                        8.900.000,00 Development to follow,

 

ACCOUNTS                                       See latest published figures on page 4.

 

RATIOS                                             2011                    2010                 2009    

-Equity ratio %                                   29,2                     41,1                  35,0

-Acid test (Quick ratio)%                     30,0                     42,1                  34,6

-Return on total assets %                    -6,8                      10,5                  -21,0

-Profit margin %                                  -6,2                      8,7                    -16,3

 

REAL ESTATE                                   Owns 4 properties

-Taxation value                                   DKK 69.414.000,00

 

PAYMENTS                                       Nothing detrimental has been noted.

 

BANKERS                                         Danske Bank A/S

                                                         Nordea Bank Danmark A/S

 

CREDIT OPINION                               Business- and credit connection admissible

 

Financials

 

ACCOUNTS CLOSED AT                                   31.12.2011             31.12.2011            31.12.2010          

 

EXTRACT IN 1000 DKK                              GROUP                       LTD                       LTD

 

PROFIT & LOSS ACCOUNT

 

Gross results                                             85.214                   77.908                    9.499

 

Operating results                                                -9.990                  -13.842                  -16.433

 

Ordinary result before taxes                               -15.528                  -13.743                  -16.823

 

Year’s net profit/loss                                         -8.900                    -8.900                  -12.458

 

TOTAL ASSETS                                             192.566                 202.980                 179.507

 

ASSETS

 

FIXED ASSETS                                                 43.846                   89.985                   87.630

-Tangible assets                                                34.582                   34.582                   41.311

-Financial assets                                               00                         46.139                   40.341

-Intangible assets                                                9.264                     9.264                    5.978

 

CURRENT ASSETS                                         148.720                 112.995                   91.877

-Receivables                                                      57.622                   36.554                   23.668

-Inventories                                                        70.705                   70.705                   57.072

-Cash, bank & others                                         20.393                 112.995                   91.877

 

EQUITY & LIABILITIES

 

SHORTTERM LIABILITIES                                130.214                 141.131                 112.307

-Suppliers                                                          45.603                   34.923                   27.185

 

LONGTERM LIABILITIES                                      0                           0                           0

 

PROVISIONS/RESERVES                                   3.026                     2.523                    1.483

 

SHAREHOLDER’S EQUITY                               59.326                   59.326                   65.717

                                                                                                                                                                                                                                                                

 

 

 

 

 

 

                                                        

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.48

UK Pound

1

Rs.82.71

Euro

1

Rs.72.23

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.