MIRA INFORM REPORT

 

 

Report Date :

18.12.2014

 

IDENTIFICATION DETAILS

 

Name :

FLSMIDTH A/S

 

 

Registered Office :

Vigerslev Alle 77, Valby 2500

 

 

Country :

Denmark

 

 

Date of Incorporation :

06.03.1991

 

 

Com. Reg. No.:

15028882

 

 

Legal Form :

Limited company

 

 

Line of Business :

·         Mounting and delivery of ready-made production

·         Installation of industrial machinery and equipment

·         Consulting engineering activities within production

 

 

No. of Employees :

1705

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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, have since continued to decline. Household indebtedness is still relatively high at more than 275% of gross disposable income in the first half of 2013. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. Denmark made a modest recovery in 2010, 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 2010-13, 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, where it remains. 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 46% of GDP in 2013. 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

REGISTERED NAME & COMPANY SUMMARY

 

Business Name

FLSMIDTH A/S

Country

DENMARK

Company Registration Number/CVR

15028882

Main Code

711230

Main Activity

Mounting and delivery of ready-made production pla

Company Status

Active

Latest Revenue

 

Latest Shareholder Equity

5.531.000

 

Basic Information

Business Name

FLSmidth A/S

Registered Company Name

FLSmidth A/S

Company Registration Number

15028882

Country

DENMARK

Date of Company Registration

1991-03-06

Legal Form

Limited company

Company Status

Active

Currency of this Report

DKK

Principal Activity Code

711230

Principal Activity Description

Mounting and delivery of ready-made production pla

Contact Address

Vigerslev Alle 77, Valby 2500

Contact Telephone Number

36181000

 

Activities

Activity Code

Activity Description

711230

Mounting and delivery of ready-made production pla

551020

Conference centres and course facilities

332000

Installation of industrial machinery and equipment

711220

Consulting engineering activities within production

 

 

Previous Names

Previous Name

Date Changed from Previous Name

SLF Beta A/S

 

F.L. Smidth & Co. A/S

 

F.L. Smidth A/S

 

 

Contact Information

Main Address

Address

Country

Telephone

Vigerslev Alle 77, Valby 2500

DENMARK

36181000

 

Email Addresses

info@flsmidth.com

 

Web Pages

www.flsmidth.com

 

DIRECTORS/MANAGEMENT

 

Directors/Managers

Current Directors

Name

Position

Start Date

Thomas Schulz

Managing director

 

Bjarne Moltke Hansen

General manager

 

Peter Flanagan

General manager

 

Per Mejnert Kristensen

General manager

 

Carsten Riisberg Lund

General manager

 

Lars Vestergaard

General manager

 

Vagn Ove Sørensen

Chairman

 

Torkil Bentzen

Deputy Chairman

 

Hans Per Martin Ivert

Member of the board

 

Sten Erik Jakobsen

Member of the board

 

Caroline Grégoire Sainte Marie

Member of the board

 

Tom Knutzen

Member of the board

 

Mette Dobel

Elected by employees

 

Jens Peter Koch

Elected by employees

 

Søren Quistgaard Larsen

Elected by employees

 

Jan Amtoft

IT

 

 

 

NEGATIVE INFORMATION

 

Na

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital Structure

Currency

DKK

Nominal Share Capital

500.000.000

 

 

PAYMENT INFORMATION

 

Na

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group Structure

Ultimate Holding Parent

Name

Country

No information for this company.

 

 

Subsidaries

Name

Country

PT Flsmidth Indonesia

INDONESIA

FLS Eurasia AG

SWITZERLAND

FLSmidth Krebs GmbH

AUSTRIA

FLSmidth Qingdao Ltd

CHINA

FLSmidth Ltda

BRAZIL

FLSmidth SA

SPAIN

FLSmidth (Jersey) Limited

UNITED KINGDOM

Flsmidth Tyskland A/S

DENMARK

FLSmidth Argentina SA

ARGENTINA

FLSmidth Ltd

UNITED KINGDOM

FLS US Holdings Inc

UNITED STATES

FLSmidth Machinery Industri (Qingdao) Ltd

CHINA

FLSmidth MAAG Gear AG

SWITZERLAND

Pfister Holding GmbH

GERMANY

FLSmidth Ireland Limited

IRELAND

FLSmidth Sp. z.o.o.

POLAND

Flsmidth Rusland Holding A/S

DENMARK

MAAG Gear Systems AG

SWITZERLAND

LFC International Engineering JSC

VIET NAM

FLSmidth d.o.o.

CROATIA

Flsmidth Solutions ApS

DENMARK

FLSmidth Ventomatic SpA

ITALY

FLSmidth (Private) Ltd.

PAKISTAN

FLSmidth Shanghai Ltd.

CHINA

Flsmidth Spol. s.r.o.

CZECH REPUBLIC

Flsmidth Zambia Ltd.

ZAMBIA

FLSmidth Mongolia

MONGOLIA

FLSmidth SAS

FRANCE

Phillips Kiln Services International F.Z.E.

UNITED ARAB EMIRATES

The Pennies and Pounds Holding Inc

PHILIPPINES

FLSmidth AB

SWEDEN

FLSmidth Co. Ltd.

VIET NAM

FLSsmidth LLC

MOLDOVA

FLSmidth Sales and Services Limitid

NIGERIA

FLSmidth Sales and Services Limitid

TURKEY

FLSmidth SEPEC Environmental Engineering Co., Ltd

CHINA

 

 

FINANCIAL INFORMATION

 

Accounts

Profit and Loss

Financial Date

2012

2011

2010

Number of Weeks

52

52

52

Currency

DKK

DKK

DKK

Revenue

4.012.000.000

4.131.000.000

4.922.000.000

Operating Profit

418.000.000

462.000.000

656.000.000

Retained Profit

1.659.000.000

374.000.000

523.000.000

 

Balance Sheet

Financial Date

2012

2011

2010

Number of Weeks

52

52

52

Currency

DKK

DKK

DKK

Total Assets

9.706.000.000

9.073.000.000

9.216.000.000

Other Reserves

5.531.000.000

4.362.000.000

4.498.000.000

 

Additional Accounts Information

Date Format

MM-DD

Accounts Start Date

01-01

Accounts End Date

12-31

 

Additional Accounts Notes

Notes Date

Notes Detail

2012-01-01T00:00:00

In the financial statement of 2012 attention is drawn to leasing commitments.

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Other Information

Employee Information

Year Reported

Number of Employees

2012

1705

2011

1566

2010

1463

 

Real Estate

Real Estate

No

 

Other Trading Names

Type

Name

Business name

FFE Minerals A/S

Business name

FFE Minerals Denmark A/S

Business name

F.L.Smidth Airtech A/S

Business name

FLS Airloq A/S

Business name

FLS Automation A/S

Business name

FLS Energy A/S

Business name

FLS Group A/S

Business name

FLSairtech A/S

Business name

FLSmidth Airtech A/S

Business name

Flsmidth Airloq A/S

Business name

Flsmidth Energy A/S

Business name

Flsmidth Group A/S

Business name

Flsmidth Minerals A/S

Business name

Flsmidth Technology A/S

Business name

Flsmidth (Thailand) Ltd. A/S

Business name

Fuller A/S

Business name

International Engineering A/S

Business name

International Holding Company A/S

Business name

Myfls A/S

Business name

S.A. Teknik Mariager A/S

Business name

F.L. Smidth Minerals A/S

Business name

F.L.Smidth A/S

Business name

F.L. Smidth-Fuller Engineering A/S

Business name

Valby Maskinfabrik A/S

Business name

Ventomatic A/S

 

Global Trading Information

Export

Worldwide

Import

 

 

Other Information

Type

Text

Historical data

The company was formed in 1991 under the name of "SLF Beta A/S", but in 1992 it changed its name to the present one.

Historical data

In 1992 the company took over the activities previously carried on by "F.L.Smidth & Co A/S" Reg. 173.386.

Historical data

In 2004 the company took over the activities previously carried on by F.L.Smidth Materials Handling A/S (CVR. 73336813).

Historical data

In 1994 the business took over the activities previously carried on by "FLS Maskinteknik A/S" reg. 176.405.

Historical data

The company has per 01.01.1997 transferred some of its former activities to MAAG Gear A/S, Reg.Nr.: 221.470.

Historical data

The company merged on 09-07-2001 with F.L. Smidth-Fuller Engineering A/S cvr. 15109076 , the registered company being the continuing one.

Historical data

The company merged on 09-07-2001 with Fuller A/S cvr. 15109076 , the registered company being the continuing one.

Historical data

The company merged on 11-06-2003 with FLS Automation A/S (Cvr. 14321608) , the registered company being the continuing one.

Historical data

The company merged on 07-09-2008 with FLSmith Techology A/S (Cvr. 15109084) , the registered company being the continuing one.

Historical data

The company merged on 30-10-2008 with FLSmidth Airtech A/S (Cvr. 26527848) , the registered company being the continuing one.

Historical data

The company merged on 23-06-2009 with FLSmidth Minerals A/S (Cvr. 16660299) , the registered company being the continuing one.

Historical data

The company merged on 23-06-2009 with FLSmidth A/S (Cvr. 15028882) , the registered company being the continuing one.

Historical data

The company merged on 23-09-2009 with F L Smidth Airloq A/S (Cvr. 10364248) , the registered company being the continuing one.

Historical data

The company merged on 23-06-2009 with International Holding Company A/S (Cvr. 16660302) , the registered company being the continuing one.

Capital conditions

fully paid up

 

Other Trading Names

Type

Name

Business name

FFE Minerals A/S

Business name

FFE Minerals Denmark A/S

Business name

F.L.Smidth Airtech A/S

Business name

FLS Airloq A/S

Business name

FLS Automation A/S

Business name

FLS Energy A/S

Business name

FLS Group A/S

Business name

FLSairtech A/S

Business name

FLSmidth Airtech A/S

Business name

Flsmidth Airloq A/S

Business name

Flsmidth Energy A/S

Business name

Flsmidth Group A/S

Business name

Flsmidth Minerals A/S

Business name

Flsmidth Technology A/S

Business name

Flsmidth (Thailand) Ltd. A/S

Business name

Fuller A/S

Business name

International Engineering A/S

Business name

International Holding Company A/S

Business name

Myfls A/S

Business name

S.A. Teknik Mariager A/S

Business name

F.L. Smidth Minerals A/S

Business name

F.L.Smidth A/S

Business name

F.L. Smidth-Fuller Engineering A/S

Business name

Valby Maskinfabrik A/S

Business name

Ventomatic A/S

 

Global Trading Information

Export

Worldwide

Import

 

 

Other Information

Type

Text

Historical data

The company was formed in 1991 under the name of "SLF Beta A/S", but in 1992 it changed its name to the present one.

Historical data

In 1992 the company took over the activities previously carried on by "F.L.Smidth & Co A/S" Reg. 173.386.

Historical data

In 2004 the company took over the activities previously carried on by F.L.Smidth Materials Handling A/S (CVR. 73336813).

Historical data

In 1994 the business took over the activities previously carried on by "FLS Maskinteknik A/S" reg. 176.405.

Historical data

The company has per 01.01.1997 transferred some of its former activities to MAAG Gear A/S, Reg.Nr.: 221.470.

Historical data

The company merged on 09-07-2001 with F.L. Smidth-Fuller Engineering A/S cvr. 15109076 , the registered company being the continuing one.

Historical data

The company merged on 09-07-2001 with Fuller A/S cvr. 15109076 , the registered company being the continuing one.

Historical data

The company merged on 11-06-2003 with FLS Automation A/S (Cvr. 14321608) , the registered company being the continuing one.

Historical data

The company merged on 07-09-2008 with FLSmith Techology A/S (Cvr. 15109084) , the registered company being the continuing one.

Historical data

The company merged on 30-10-2008 with FLSmidth Airtech A/S (Cvr. 26527848) , the registered company being the continuing one.

Historical data

The company merged on 23-06-2009 with FLSmidth Minerals A/S (Cvr. 16660299) , the registered company being the continuing one.

Historical data

The company merged on 23-06-2009 with FLSmidth A/S (Cvr. 15028882) , the registered company being the continuing one.

Historical data

The company merged on 23-09-2009 with F L Smidth Airloq A/S (Cvr. 10364248) , the registered company being the continuing one.

Historical data

The company merged on 23-06-2009 with International Holding Company A/S (Cvr. 16660302) , the registered company being the continuing one.

Capital conditions

fully paid up

 

 

NOTES & COMMENTS

 

Na

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.