MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

ELDAN RECYCLING  AS

 

 

Registered Office :

Vaerkmestervej 4, Faaborg   5600

 

 

Country :

Denmark

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

01.05.1990

 

 

Com. Reg. No.:

14125388

 

 

Legal Form :

Limited company

 

 

Line of Business :

Manufacture of other special- purpose machinery n.e

 

 

No. of Employees :

81

 

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 :

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 – 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

Source : CIA

Company name

 

ELDAN RECYCLING A/S

 

 

Company Summary

 

Company Name            Eldan Recycling A/S      Company Registration Number    14125388

 

Country            DK      

Activity Code    289900             Activity Description      Manufacture of other special- purpose machinery n.e

Company Status          Active   Latest Turnover

Latest Shareholders  Equity     59,737.00 (DKK)

 

 

Company Identification

 

Activities

Activity Code                289900

Activity Description      Manufacture of other special-purpose  machinery n.e

 

 

PREVIOUS NAMES

 

Previous Name             Eldan Recycling af 1/3 1991 A/S          

Previous Name             Eldan Scandinavian Recycling A/S

 

 

Basic Information

 

Company Name                                                    Eldan Recycling A/S                  

Registered Company Name                                  Eldan Recycling A/S

Company Registration Number                            14125388                                   

Country                                                                 DK

VAT Registration Number 14125388                    

Date of Company Registration                              01/05/1990                                 

Legal Form                                                           Limited company

Company Status                                                   Active

Principal Activity Code                                         289900                                      

Principal Activity Description                               Manufacture of other special-purpose machinery n.e

  Contact Address                                                   Værkmestervej 4,   Faaborg    5600           

 Contact Telephone Number                                   63612545

 

 

Main Address

 

Address          Værkmestervej 4,   Faaborg    5600

Country            DK

Telephone        63612545

 

Email Addresses

info@eldan-recycling.com

 

Web Addresses

www.eldan-recycling.com

 

 

Current Directors Managers

 

Name                            Toni Reftman

Position                       General manager

Date Appointed            03/05/2005

 

Name                            Nils Fredrik Knagenhielm-Karlsson

Position                       Chairman

Date Appointed            18/06/2004

 

Name                            Kurt Olof Robert Burman

Position                       Member of the board

Date Appointed            15/06/2007

 

Name                            Toni Reftman

Position                       Member of the board

Date Appointed            19/03/2009

 

Name                            Karsten S Jørgensen

Position                       Finance

 

Name                            Toni Reftmann

Position                       Sales

Date Appointed            16/07/2004

 

Name                            Bjørn Laursen

Position                       Sales

Date Appointed            13/01/2005

 

Name                            Jan Kjær

Position                       Sales

Date Appointed            13/01/2005

Name                            Henning Nørregaard

Position                       Sales

Date Appointed            29/01/2008

 

Name                            Flemming Hansen

Position                       Sales

Date Appointed            04/09/2009

 

Name                            Karsten S Jørgensen

Position                       IT

 

Name                            Karsten S Jørgensen

Position                       Personnel

 

Name                            Claus Bisgaard Larsen

Position                       Purchasing

Date Appointed            29/01/2008

 

Name                            Karsten S Jørgensen

Position                       Internet

Date Appointed            07/07/2003

 

 

Share Capital Structure

 

Nominal Share Capital             12,000,000.00 (DKK)

 

 

Employee Information

 

Year                                          2012

Number of Employees             81

 

Year                                          2011

Number of Employees             79

 

Year                                          2010

Number of Employees             74

 

Financial Statements

 

PROFIT & LOSS

Financial Year                                       2012                  2011                  2010

Number of Weeks                    52                     52                     52

Currency                                  DKK                 DKK                 DKK

Operating Profit                       23,929,000.00    31,423,000.00    12,078,000.00

Retained Profit                         18,023,000.00    23,862,000.00    8,346,000.00

 

 

BALANCE SHEET

 

Financial Year                                       2012                  2011                  2010

Number of Weeks                    52                     52                     52

Currency                                  DKK                 DKK                 DKK

Total Assets                              108,474,000.00 112,780,000.00 120,312,000.00

Other Reserves                         59,737,000.00    65,214,000.00    51,352,000.00

Other Financials

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.