MIRA
INFORM REPORT
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Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SVENDBORG BRAKES APS |
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Formerly Name : |
SVENDBORG BRAKES A/S |
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Registered Office : |
Jernbanevej 9, Vejstrup, 5882 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1990 |
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Reg. No.: |
13256438 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is a brake solution services providing. The
Subject manufactures hydraulic braking systems for heavy industries. Its
products include hydraulic brakes, hydraulic power units, soft braking
controls, couplings, yaw systems, thruster brakes, rotor locks, accessories,
and customization. Svendborg provide services such as installation services
and testing services. |
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No. of Employees : |
158 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Denmark |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Company name and address
SVENDBORG BRAKES A/S
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Jernbanevej 9, Vejstrup, 5882 Denmark
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Business Description
Svendborg Brakes A/S (Svendborg) is a brake solution services providing company. The company manufactures hydraulic braking systems for heavy industries. Its products include hydraulic brakes, hydraulic power units, soft braking controls, couplings, yaw systems, thruster brakes, rotor locks, accessories, and customization. Svendborg provide services such as installation services and testing services. The company serves wind power, mining, crane, ship propulsion, draw-works, and offshore industries. It has offices in Australia, Chile, Canada, Denmark, France, China, Poland, Spain, South Africa, Czech Republic, Germany, and the United States. The company consists of 10 sales and 4 production sites in order to provide reliable solutions to its customers. Svendborg is headquartered in Vejstrup, Denmark.
Industry
Key Executives
|
Name |
Title |
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Bastian Schaefer |
Chief Executive Officer |
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Michael Kaalund |
IT Manager |
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Bo Aarup |
Sales Director |
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Steven Olsen |
63 25 52 55 |
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Steven Dean Olsen |
Production Director |
News
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Title |
Date |
|
No. 3 2014
New HR Director appointed in Solar A/S |
6-Mar-2014 |
|
Altra
Reports Fourth-Quarter 2013 Results |
19-Feb-2014 |
|
Altra
Industrial Motion Corp. Announces First Quarter 2014 Dividend |
12-Feb-2014 |
|
Altra
Industrial Motion Corp. to Host Conference Call on Fourth Quarter 2013
Financial Results |
4-Feb-2014 |
|
Altra buys
Svendborg Brakes |
8-Jan-2014 |
|
Altra
Industrial Reaches 52-Week High |
8-Jan-2014 |
Registered No.(DNK): 13256438
1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.793028
2 - Balance Sheet Item Exchange Rate:
USD 1 = DKK 5.6443
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%2016-Jul-2014_files/image004.gif){kind=small}
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ANZSIC 2006 Codes: |
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2499 |
- |
Other Machinery and Equipment Manufacturing Not Elsewhere
Classified |
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696 |
- |
Management and Related Consulting Services |
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2462 |
- |
Mining and Construction Machinery Manufacturing |
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26 |
- |
Electricity Supply |
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ISIC Rev 4 Codes: |
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2811 |
- |
Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines |
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7020 |
- |
Management consultancy activities |
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2824 |
- |
Manufacture of machinery for mining, quarrying and
construction |
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3510 |
- |
Electric power generation, transmission and distribution |
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NACE Rev 2 Codes: |
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2811 |
- |
Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines |
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7022 |
- |
Business and other management consultancy activities |
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2892 |
- |
Manufacture of machinery for mining, quarrying and
construction |
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3511 |
- |
Production of electricity |
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NAICS 2012 Codes: |
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33361 |
- |
Engine, Turbine, and Power Transmission Equipment
Manufacturing |
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333132 |
- |
Oil and Gas Field Machinery and Equipment Manufacturing |
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541611 |
- |
Administrative Management and General Management
Consulting Services |
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2211 |
- |
Electric Power Generation, Transmission and Distribution |
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US SIC 1987: |
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351 |
- |
Engines and Turbines |
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4911 |
- |
Electric Services |
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8742 |
- |
Management Consulting Services |
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3533 |
- |
Oil and Gas Field Machinery and Equipment |
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UK SIC 2007: |
||
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2811 |
- |
Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines |
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70229 |
- |
Management consultancy activities (other than financial
management) |
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3511 |
- |
Production of electricity |
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2892 |
- |
Manufacture of machinery for mining, quarrying and
construction |
Svendborg Brakes A/S (Svendborg) is a brake solution services providing company. The company manufactures hydraulic braking systems for heavy industries. Its products include hydraulic brakes, hydraulic power units, soft braking controls, couplings, yaw systems, thruster brakes, rotor locks, accessories, and customization. Svendborg provide services such as installation services and testing services. The company serves wind power, mining, crane, ship propulsion, draw-works, and offshore industries. It has offices in Australia, Chile, Canada, Denmark, France, China, Poland, Spain, South Africa, Czech Republic, Germany, and the United States. The company consists of 10 sales and 4 production sites in order to provide reliable solutions to its customers. Svendborg is headquartered in Vejstrup, Denmark.
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Bank: |
Danske Bank |
Corporate
Family
Corporate Structure News
Total Corporate Family Members:
41
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Braintree, MA |
United States |
Machinery and Equipment Manufacturing |
722.2 |
3,617 |
|
|
Subsidiary |
Braintree, MA |
United States |
Machinery and Equipment Manufacturing |
635.3 |
3,164 |
|
|
Branch |
South Beloit, IL |
United States |
Machinery Wholesale |
0.4 |
400 |
|
|
Subsidiary |
New Hartford, CT |
United States |
Machinery and Equipment Manufacturing |
37.1 |
115 |
|
|
Holding |
South Beloit, IL |
United States |
Motor Vehicle Parts Manufacturing |
250.0 |
250 |
|
|
Branch |
Columbia City, IN |
United States |
Motor Vehicle Repair and Maintenance |
12.0 |
100 |
|
|
Subsidiary |
Syracuse, NY |
United States |
Metal Products Manufacturing |
0.8 |
250 |
|
|
Subsidiary |
Etobicoke, ON |
Canada |
Machinery Wholesale |
2.7 |
50 |
|
|
Branch |
Lancaster, PA |
United States |
Metal Products Manufacturing |
5.3 |
18 |
|
|
Branch |
New Hartford, CT |
United States |
Motor Vehicle Parts Manufacturing |
64.6 |
200 |
|
|
Branch |
Niagara Falls, NY |
United States |
Electronics Wholesale |
194.3 |
150 |
|
|
Holding |
Erie, PA |
United States |
Electromedical and Control Instruments Manufacturing |
27.4 |
150 |
|
|
Holding |
Niagara Falls, NY |
United States |
Machinery and Equipment Manufacturing |
15.0 |
135 |
|
|
Subsidiary |
Erie, PA |
United States |
Machinery and Equipment Manufacturing |
22.7 |
120 |
|
|
Branch |
Warren, MI |
United States |
Motor Vehicle Repair and Maintenance |
11.5 |
100 |
|
|
Branch |
Wichita Falls, TX |
United States |
Motor Vehicle Repair and Maintenance |
10.9 |
100 |
|
|
Holding |
Braintree, MA |
United States |
Machinery and Equipment Manufacturing |
3.0 |
100 |
|
|
Division |
Charlotte, NC |
United States |
Electronics Wholesale |
58.6 |
100 |
|
|
Subsidiary |
Somerset, NJ |
United States |
Machinery and Equipment Manufacturing |
13.6 |
10 |
|
|
Branch |
Green Bay, WI |
United States |
Electronics Wholesale |
56.6 |
50 |
|
|
Branch |
Plano, TX |
United States |
Motor Vehicle Parts Manufacturing |
4.9 |
7 |
|
|
Branch |
Belvidere, IL |
United States |
Electronics Wholesale |
14.8 |
6 |
|
|
Branch |
Waukesha, WI |
United States |
Motor Vehicle Repair and Maintenance |
0.6 |
6 |
|
|
Holding |
South Beloit, IL |
United States |
Motor Vehicle Repair and Maintenance |
0.4 |
2 |
|
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Subsidiary |
Chambersburg, PA |
United States |
Machinery and Equipment Manufacturing |
110.9 |
830 |
|
|
Branch |
San Marcos, TX |
United States |
Electrical Equipment and Appliances Manufacturing |
47.8 |
75 |
|
|
Subsidiary |
Edmonton, AB |
Canada |
Machinery and Equipment Manufacturing |
2.6 |
4 |
|
|
Subsidiary |
Vejstrup, 5 |
Denmark |
Machinery and Equipment Manufacturing |
69.3 |
158 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Machinery and Equipment Manufacturing |
|
70 |
|
|
Subsidiary |
Twickenham |
United Kingdom |
Miscellaneous Manufacturing |
24.8 |
71 |
|
|
UK Branch/Trading address |
Twickenham |
United Kingdom |
Motor Vehicle Parts Manufacturing |
24.8 |
8 |
|
|
Subsidiary |
Telford |
United Kingdom |
Motor Vehicle Repair and Maintenance |
|
6 |
|
|
UK Branch/Trading address |
Rawfolds |
United Kingdom |
Motor Vehicle Repair and Maintenance |
|
6 |
|
|
Subsidiary |
Sao Paulo, Sao Paulo |
Brazil |
Machinery and Equipment Manufacturing |
5.4 |
50 |
|
|
Subsidiary |
Wörth A.D.Isar, Bayern |
Germany |
Motor Vehicle Parts Manufacturing |
|
18 |
|
|
Subsidiary |
Winsford |
United Kingdom |
Machinery and Equipment Manufacturing |
3.7 |
7 |
|
|
Subsidiary |
Singapore |
Singapore |
Machinery and Equipment Manufacturing |
|
7 |
|
|
Subsidiary |
Klaukkala |
Finland |
Machinery and Equipment Manufacturing |
|
5 |
|
|
Subsidiary |
Bangkok |
Thailand |
Machinery and Equipment Manufacturing |
|
|
|
|
Subsidiary |
Istra |
Russian Federation |
Machinery and Equipment Manufacturing |
|
|
|
|
Subsidiary |
Taipei |
Taiwan |
Machinery and Equipment Manufacturing |
|
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Competitors
Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Green Wind Energy A/S |
Kobenhavn, Denmark |
12 |
Public |
|
Greentech Energy Systems A/S |
Koebenhavn, Denmark |
79 |
Public |
|
Topsil Semiconductor Materials A/S |
Frederikssund, Denmark |
342 |
Public |
Annual
Profit & Loss
Board of Directors
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|||
|
Bestyrelsesformand |
Chairman |
|||
|
Board Member |
Director/Board Member |
|||
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Board Member, Managing Director / Director |
Director/Board Member |
Executives
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|||
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Chief Executive Officer |
Chief Executive Officer |
|||
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Managing Director Spain |
Managing Director |
|||
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Board Member, Managing Director / Director |
Managing Director |
|||
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Managing Director China |
Managing Director |
|||
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Managing Director Germany |
Managing Director |
|||
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IT Manager |
Finance Executive |
|||
|
Sales Director |
Sales Executive |
|||
|
Marketing / Communication Executive |
Marketing Executive |
|||
|
Production Director |
Manufacturing Executive |
|||
|
63 25 52 55 |
Purchasing Executive |
News
Annual
Profit & Loss
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
DKK |
DKK |
DKK |
|
Exchange Rate (Period
Average) |
5.793028 |
5.358236 |
5.623146 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total Revenue |
69.3 |
79.8 |
90.4 |
|
Gross Profit |
20.6 |
20.9 |
26.0 |
|
Operating Income |
3.7 |
4.7 |
11.3 |
|
Net Income |
0.9 |
5.0 |
9.8 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed Currency |
DKK |
DKK |
DKK |
|
Exchange Rate |
5.6443 |
5.72535 |
5.55485 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total Assets |
142.4 |
132.0 |
120.2 |
|
Provisions |
3.4 |
3.2 |
1.3 |
|
Total Equity |
71.3 |
69.8 |
65.1 |
Annual
Ratios
|
|
31-Dec-2012 |
31-Dec-2011 |
|
Period Length |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
|
Exchange Rate |
- |
- |
|
Consolidated |
No |
No |
|
|
|
|
|
Operating Margin |
5.30 |
5.95 |
|
Current Ratio |
398.51 |
378.75 |
|
Total debt/total equity |
50.09 |
52.89 |
|
Return on average equity |
1.30 |
6.70 |
Annual
Growth Rates
|
|
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
|
Exchange Rate |
- |
- |
|
Consolidated |
No |
No |
|
|
|
|
|
Turnover Percent Change |
-6.08% |
-15.89% |
|
Marginal Contribution Percent Change |
6.49% |
-23.48% |
|
Operating Results Percent Change |
-16.32% |
-59.89% |
|
Profit/Loss for the Year Percent Change |
-80.43% |
-51.21% |
|
Assets Percent Change |
6.34% |
13.21% |
|
Provisions Percent Change |
5.96% |
153.02% |
|
Equity Capital Percent Change |
0.70% |
10.54% |
|
Operating Margin Percent Change |
-10.92% |
- |
|
Current Ratio Percent Change |
5.22% |
- |
|
Debt/Equity Ratio Percent Change |
-5.29% |
- |
|
Retun On Equity Percent Change |
-80.60% |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.