MIRA INFORM REPORT
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Report Date : |
03.09.2013 |
IDENTIFICATION DETAILS
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Name : |
DEIF AS
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Registered Office : |
Frisenborgvej
33, Skive, 7800 |
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Country : |
Denmark |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1933 |
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Com. Reg. No.: |
15798416 |
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Legal Form : |
Private
Subsidiary Company |
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Line of Business : |
Subject is an energy equipment service
provider Its markets and
distributes control solutions for decentralized, marine and offshore, and
wind turbines |
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No. of Employees : |
385 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Denmark |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company name & address
DEIF A/S
Frisenborgvej 33
Skive, 7800
Denmark
Tel: 45 96 14 96 14
Fax: 45 96 14 96 15
Web: www.deif.com
Synthesis
Employees: 385
Company Type: Private
Subsidiary
Corporate Family: 3 Companies
Ultimate Parent: Toke
Foss Holding A/S
Incorporation
Date: 1933
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2010
Reporting
Currency: Danish Krone
Annual Sales: 68.8
Total Assets: NA
Business Description
DEIF A/S (DEIF)
is an energy equipment service provider. The company markets and distributes
control solutions for decentralized, marine and offshore, and wind turbines.
The company’s power and control technology products include diesel, gas, and
hydro. Its technology products include marine, off shore, bridge
instrumentation, and switch board equipment. DEIF’s division DEIF Wind Power
Technology offers wind turbine control solutions and key components related to
the wind turbine industry. The company operates through the subsidiaries in
Germany, Norway, the UK, France, China, Brazil and the US. It operates as a
subsidiary of Toke Foss Holding A/S. DEIF is headquartered in Skive, Denmark.
Industry
Industry
Electromedical and Control Instruments Manufacturing
ANZSIC 2006: 2419 - Other Professional and Scientific
Equipment Manufacturing
ISIC Rev 4: 2651 - Manufacture of measuring,
testing, navigating and control equipment
NACE Rev 2: 2651 - Manufacture of instruments and
appliances for measuring, testing and navigation
NAICS 2012: 334513 - Instruments and Related Products
Manufacturing for Measuring, Displaying, and
Controlling Industrial Process Variables
UK SIC 2007: 2651 - Manufacture of instruments and
appliances for measuring, testing and navigation
US SIC 1987: 3823 - Industrial Instruments for
Measurement, Display, and Control of Process Variables; and
Related Products
Key Executives
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Name |
Title |
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Toke Foss |
Managing Director and Chief Executive Officer |
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Henrik Moller Andersen |
Finance Manager |
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Lars Gravholt |
Marketing Manager |
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Niels M Baekby |
Purchasing Manager |
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Frank P Overby |
IT Manager |
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1 - Profit &
Loss Item Exchange Rate: USD 1 = DKK 5.623146
2 - Balance Sheet
Item Exchange Rate: USD 1 = DKK 5.55485
Corporate Overview
Location
Frisenborgvej 33
Skive, 7800
Denmark
Tel: 45 96 14 96 14
Fax: 45 96 14 96 15
Web: www.deif.com
Sales DKK(mil): 387.0
Assets DKK(mil): NA
Employees: 385
Fiscal Year End: 31-Dec-2010
Industry: Scientific and Technical
Instruments
Incorporation
Date: 1933
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered
No.(DNK): 15798416
Managing Director and
Chief Executive Officer:
Toke Foss
Industry Codes
ANZSIC 2006
Codes:
2419 - Other
Professional and Scientific Equipment Manufacturing
ISIC Rev 4 Codes:
2651 - Manufacture
of measuring, testing, navigating and control equipment
NACE Rev 2 Codes:
2651 - Manufacture
of instruments and appliances for measuring, testing and navigation
NAICS 2012 Codes:
334513 - Instruments
and Related Products Manufacturing for Measuring, Displaying, and Controlling
Industrial Process Variables
US SIC 1987:
3823 - Industrial
Instruments for Measurement, Display, and Control of Process Variables; and
Related Products
UK SIC 2007:
2651 - Manufacture
of instruments and appliances for measuring, testing and navigation
Business Description
Production of
control apparatus for generator plants
More Business Descriptions
DEIF A/S is
primarily engaged in planning and designing computer systems that integrate
computer hardware, software, and communication technologies. The hardware and
software components of the system may be provided by this establishment or
company as part of integrated services or may be provided by third parties or
vendors. These establishments often install the system and train and support
users of the system.
DEIF A/S (DEIF)
is an energy equipment service provider. The company markets and distributes
control solutions for decentralized, marine and offshore, and wind turbines.
The company’s power and control technology products include diesel, gas, and
hydro. Its technology products include marine, off shore, bridge
instrumentation, and switch board equipment. DEIF’s division DEIF Wind Power
Technology offers wind turbine control solutions and key components related to
the wind turbine industry. The company operates through the subsidiaries in
Germany, Norway, the UK, France, China, Brazil and the US. It operates as a
subsidiary of Toke Foss Holding A/S. DEIF is headquartered in Skive, Denmark.
Brand/Trade Names
Multi-line
Uni-line
Delomatic
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Corporate Family |
Corporate
Structure News: |
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DEIF
A/S |
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DEIF A/S |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Toke Foss Holding A/S |
Parent |
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DEIF A/S |
Subsidiary |
Skive |
Denmark |
Electromedical and Control Instruments Manufacturing |
68.8 |
385 |
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Deif (UK) Ltd. |
Subsidiary |
Stockport |
United Kingdom |
Miscellaneous Wholesale |
0.9 |
6 |
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Competitors Report
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Company Name |
Location |
Employees |
Ownership |
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Bosch Rexroth AG |
Lohr A. Main, Bayern, Germany |
37,500 |
Private |
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Green Wind Energy A/S |
Kobenhavn, Denmark |
12 |
Public |
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kk-electronic a/s |
Ikast, Denmark |
590 |
Private |
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Mita-Teknik A/S |
Rødkærsbro, 8, Denmark |
127 |
Private |
Executive report
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Board of
Directors |
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Chairman |
Chairman |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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ME |
Director/Board Member |
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ME |
Director/Board Member |
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Executives |
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Managing Director and Chief Executive Officer |
Chief Executive Officer |
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Divisionsdirektør, DEIF Power & Marine Technology |
Managing Director |
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Divisionsdirektør, DEIF Wind Power Technology |
Managing Director |
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Production/Operations Director |
Operations Executive |
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Finance Manager |
Finance Executive |
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Sales Director, Business area Power Technology, Gas & Hydro |
Sales Executive |
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Business area, Power Technology, Diesel |
Marketing Executive |
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Marketing Manager |
Marketing Executive |
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Business area, Marine & offshore Technology |
Marketing Executive |
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IT Manager |
Engineering/Technical Executive |
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Production Director |
Product Management Executive |
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Purchasing Manager |
Purchasing Executive |
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Annual profit & loss
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
DKK |
DKK |
DKK |
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Exchange Rate
(Period Average) |
5.793028 |
5.358236 |
5.623146 |
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Consolidated |
Yes |
Yes |
Yes |
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Total Revenue |
84.7 |
84.1 |
68.9 |
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Gross Profit |
47.6 |
48.1 |
39.1 |
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Operating Income |
1.6 |
6.6 |
5.4 |
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Net Income |
-0.4 |
4.1 |
2.7 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
DKK |
DKK |
DKK |
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Exchange Rate |
5.6443 |
5.72535 |
5.55485 |
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Consolidated |
Yes |
Yes |
Yes |
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Total Assets |
69.2 |
65.1 |
58.8 |
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Provisions |
1.1 |
1.1 |
0.7 |
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Total Equity |
15.4 |
15.0 |
12.0 |
Annual Ratios
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
- |
- |
- |
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Exchange Rate |
- |
- |
- |
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Consolidated |
Yes |
Yes |
Yes |
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Operating Margin |
1.84 |
7.89 |
7.78 |
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Current Ratio |
85.23 |
87.45 |
82.48 |
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Total debt/total equity |
22.23 |
23.07 |
20.34 |
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Return on average equity |
- |
25.35 |
23.28 |
Annual Growth Rates
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31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
- |
- |
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Exchange Rate |
- |
- |
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Consolidated |
Yes |
Yes |
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Turnover Percent Change |
8.90% |
16.41% |
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Marginal Contribution Percent Change |
7.01% |
17.33% |
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Operating Results Percent Change |
-74.65% |
18.14% |
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Profit/Loss for the Year Percent Change |
-110.77% |
40.97% |
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Assets Percent Change |
4.86% |
14.15% |
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Provisions Percent Change |
-1.16% |
77.30% |
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Equity Capital Percent Change |
1.02% |
29.47% |
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Operating Margin Percent Change |
-76.68% |
1.41% |
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Current Ratio Percent Change |
-2.54% |
6.03% |
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Debt/Equity Ratio Percent Change |
-3.64% |
13.42% |
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Return On Equity Percent Change |
- |
8.89% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.86 |
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UK Pound |
1 |
Rs.102.52 |
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Euro |
1 |
Rs.87.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.