|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
HEMPEL A/S |
|
|
|
|
Registered Office : |
Lundtoftevej 150 DK-2800 KONGENS LYNGBY |
|
|
|
|
Country : |
Denmark |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1915 |
|
|
|
|
Com. Reg. No.: |
AS17636 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Production
and export of protective coatings, special paints and varnishes for ships,
container, derricks, iron and steel etc. |
|
|
|
|
No. of Employees : |
237 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 |
HEMPEL A/S
POSTAL ADDRESS Postboks
280
DK-2800
KONGENS LYNGBY
OFFICE ADDRESS Lundtoftevej
150
DK-2800
KONGENS LYNGBY
TELEPHONE-NO +45
45 90 38 00
TELEFAX-NO +45
45 88 55 18
MOBILE-TEL-NO +45
20 97 58 09
E-MAIL-ADDRESS hempel@dk.hempel.com
LOCAL CURRENCY D
K K
FOUNDATION Originally
1915
Ltd. since 1943, 1993
merger with I.C.H. Industrial and Commercial Holding ApS.
Present name since 2003.
CENTRAL BUSINESS-REG-NO CVR-No.: 59946013
COMPANY REG-NO AS17636
EU-VAT-ID-NO DK59
94 60 13
LEGAL FORM Private
Limited Company
SHARE CAPITAL DKK
115.000.000,00
PARENT COMPANY DK
32 05 82 05 100
%
Hempel Holding A/S,
subsidiary of Hempel Fonden (Fund),
Amaliegade 8, 1256 COPENHAGEN K.
AUDITORS PriceWaterhouseCoopers
Strandvejen 44
2900 HELLERUP
Tel. 39 45 39 45
BOARD OF DIRECTORS Richard
Rudolf Sand, chairman
Lars Aaen, vice chairman
Ulf Lennart Holm
Peder Holk Nielsen
Anders Pettersson
Leif Jensen
Henrik Bach Falkenberg
Ann Louise Krüger Kofoed
Mads Juhl
MANAGING DIRECTOR Pierre-Yves
Jullien (Pres.)
Alhambravej 3
1826 FREDERIKSBERG C
Kim Junge Andersen (Finance Director)
Kildevældsgade 31
2100 COPENHAGEN Ø
AUTHORIZED SIGNATUR The
Chairman jointly with 1 BoD-member or
with 1 MD.
ACTIVITY Production
and export of protective coatings,
special paints and
varnishes for ships, container, derricks, iron and steel etc.
TRADENAMES A/S HEMPEL'S
ISOLERINGS CO.
A/S KØBENHAVNS BUNTPAPIRFABRIK
BROTHSENA A/S
DET HEMPELSKE HANDELSHUS A/S
HEMPATURI A/S
HEMPEL (DENMARK) A/S
HEMPEL (NORDIC) A/S
HEMPEL FINANCE LTD., A/S
HEMPEL FINANS A/S
HEMPEL TECHNOLOGY A/S
HEMPEL'S INGENIØRFORRETNING A/S
HEMPELS MARINE PAINTS A/S
HEMPEL'S TEKNISK KEMISKE FABRIKER A/S
HEMPEL'S VINIMPORT A/S
I.C.H. INDUSTRIAL AND COMMERCIAL HOLDING A/S
INTERNATIONAL SHIPPING SERVICE A/S
J.C. HEMPEL HOLDING A/S
J.C. HEMPEL'S HANDELSHUS & FABRIKER A/S
J.C. HEMPEL'S MARITIME SERVICE A/S
J.C. HEMPEL'S SKIBSFARVE-FABRIK A/S
M. CLAUSEN A/S
SKIBSFARVEFABRIKEN NEPTUN'S EFTF. A/S
AAGE WEIHE A/S
EMPLOYEES 237
(Group 4.468)
TURNOVER (net) 2008
EUR 145.284.000,00
2009 EUR 127.712.000,00
2010 EUR
97.794.000,00
2011 EUR
88.461.000,00
GROUP-TURNOVER (net) 2008
EUR 598.609.000,00
2009 EUR 714.201.000,00
2010 EUR 889.144.000,00
2011 EUR 1.077.324.000,00
SUBSIDIARIES See
pages 5 + 6
FINANCIAL STANDING The
financial standing is sound.
ACCOUNTS See
latest published figures on page 4.
RATIOS 2011 2010 2009
-Equity ratio % 62,2 72,4 65,4
-Acid test (Quick ratio)% 194,0 249,1 179,9
-Return on total assets % 1,3 0,4 3,5
-Return on equity % 10,7 16,7 16,8
-Profit margin % 7,8 1,8 11,0
CASH FLOW (Mill EUR)
-From operating activities 62,7 30,8 127,0
REAL ESTATE Owns
3 properties
-Tax-Value DKK
213.857.000,00
PAYMENTS Nothing
detrimental has been noted.
BANKERS HSBC
Group
Nordea Bank Danmark A/S
CREDIT OPINION Sound
for large credit engagements.
ACCOUNTS CLOSED AS PER 31.12.2011 31.12.2010 31.12.2009
EXTRACT IN 1000 EUR LTD LTD LTD
GROSS
RESULTS 42.081 36.744 47.016
OPERATING
RESULTS 6.760 1.784 14.092
RESULTS BEFORE TAXES 53.097 78.632 65.405
FIXED
ASSETS 379.440 305.515 273.427
-Tangible assets 15.457 9.923 12.842
-Financial assets 353.628 283.951 248.700
-Intangible assets 10.355 11.641 11.885
CURRENT ASSETS 145.740 131.055 132.091
-Receivables 126.710 115.314 67.893
-Inventories 7.310 6.546 11.884
-Cash, bank , etc. 11.720 9.195 52.314
SHORTTERM LIABILITIES 71.359 49.984 66.819
-Suppliers 1.726 3.599 11.203
-Bankers 24.672 0 0
LONGTERM LIABILITIES 122.824 67.500 68.532
RESERVES/PROVISIONS 4.144 2.818 5.109
COMPANY’S
NAME HEMPEL A/S
SUBSIDIARIES Hempel (Belgium) N.V., Belgien, 100,00%
Hempel (Norway) AS, Norge, 100,00%
Hempel (Italy) S.R.L, Italien, 100,00%
Hempel (Sweden) AB, Sverige, 100,00%
Hempel ( Ecuador) S.A., Ecuador, 100,00%
Hempel (Germany) GmbH, Tyskland, 100,00%
OY Hempel (Finland) AB, Finland, 100,00%
Hempel (Indonesia) P.T., Indonesien, 90,00%
Pinturas Hempel S.A (Spain), Schweiz, 100,00%
Hempel (Portugal) Lda., Portugal, 100,00%
Hempel (UK) Ltd., England, 100,00%
Hempel (Ireland) Ltd., Irland, 100,00%
Hempel (Malta) Ltd., Malta, 65,00%
Hempel (Australia) Pty. Ltd., Australien,
100,00%
Hempel (USA) Inc., USA, 100,00%
Hempel (The Netherlands) B.V., Holland, 100,00%
Hempel (France) S.A., Frankrig, 100,00%
Hempel (Chile) Ltda., Chile, 100,00%
Hempel's Marine Paints (UK) Ltd., England,
100,00%
Hempel Korea Co. Ltd., Sydkorea, 100,00%
Blakes Marine Paints Ltd., England, 100,00%
Hempel (Canada) Inc., Canada, 100,00%
Hempel (Taiwan) Co. Ltd., Taiwan, 100,00%
Hempel (Poland) Sp. z.o.o., Polen, 100,00%
Hempel Argentina S.R.L., Argentina, 100,00%
Hempel (Malaysia) Sdn. Bhd., Malaysia, 100,00%
Hempel (Thailand) Ltd., Thailand, 100,00%
HSA (Danmark) A/S, Danmark, 100,00%
Hempel (Cyprus) Ltd., Cypern, 100,00%
Hempel Coatings San. Ve Tic.Ltd. Sti., Tyrkiet,
100,00%
Hempel (Czech Republic) s.r.o., Tjekkiet,
100,00%
Hempel (Morocco) SARL, Marokko, 99,00%
Hempel's Yacht Paints Ltd., England, 100,00%
Pinturas Hempel Peru S.A., Peru, 100,00%
Hempel (Egypt) L.L.C., Egypten, 100,00%
Hempel Manufacturing (Malaysia) Sdn. Bhd.,
Malaysia, 100,00%
Hempel (Romania) SRL, Rumænien, 100,00%
Hempel (Uruguay) S.A., Uruguay, 100,00%
Hempel Paints (Egypt) L.L.C., Egypten, 100,00%
Hempel Tintas do Brasil Ltda., Brasilien,
100,00%
Hempel Egypt Duty Free Zone, Egypten, 100,00%
Hempel Coatings (Hellas) S.A., Grækenland,
100,00%
Hempel China Limited, Kina, 100,00%
Hempel (Kunshan) Coatings Co. Ltd., Kina,
100,00%
Hempel (Yantai) Coatings Co. Ltd, Kina, 100,00%
Hempel (Guangzhou) Coatings Co. Ltd., Kina,
100,00%
Hempel Hai Hong Coatings (Shenzen) Co. Ltd.,
Kina, 100,00%
Hempel Seagull Coatings Co. Ltd, Kina, 100,00%
Hempel Coatings (Croatia) Ltd., Kroatien, 98,00%
Hempel Manufactoring (Malyasia) Sdn. Bhd.,
Malaysia, 100,00%
Hempel (Malta) Marketing Ltd., Malta, 65,00%
Hempel (Mexico) S.A de C.V, Mexico, 100,00%
Pinturas Hempel de Mexico S.A de C.V, Mexico,
100,00%
Hempel Manufactoring (Poland) Sp. z.o.o, Polen,
100,00%
Hempel Zao, Rusland, 100,00%
Hempel (Singapore) Pte. Ltd, Singapore, 100,00%
Hempel Vietnam Company Limited, Vietnam, 100,00%
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.