MIRA INFORM REPORT

 

 

Report Date :

28.03.2014

 

IDENTIFICATION DETAILS

 

Name :                                

NOA NOA APS  

 

                                  

Registered Office :

Krogenbergvej 15, Nyrup, Kvistgård, 3490

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishments:

1981

 

 

Com. Reg. No.:

60746214

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

·         manufacturer of apparel and apparel accessories (except apparel knitting mills; cut and sew apparel contractors; cut and sew apparel; hats and caps; mittens and gloves; and men's and boys' neckwear).

·         Manufacturer of wearing apparel, except fur apparel

 

 

No. of Employees

35

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – december 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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 & address  

 

Noa Noa ApS 

Krogenbergvej 15, Nyrup

Kvistgård, 3490

Denmark

Tel:       +45 49 18 11 88

Fax:      +45 49 18 02 13

URL      www.noanoa.dk

 

synthesis

 

Employees:                 35

Company Type:            Private Subsidiary Company

Corporate Family:          3 Companies

Ultimate Parent:            Nn Ax 2 ApS

Incorporation Date:        1981    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2012

Reporting Currency:       Danish Krone

Annual Sales:               81.2

Net Income:                 (4.3)

Total Assets:                 51.0

 

 

Business Description     

 

Noa Noa ApS is primarily engaged in manufacturing apparel and apparel accessories (except apparel knitting mills; cut and sew apparel contractors; cut and sew apparel; hats and caps; mittens and gloves; and men's and boys' neckwear). Jobbers for these products, who perform entrepreneurial functions involved in other apparel and accessory manufacture, including buying raw materials, designing and preparing samples, arranging for other apparel and accessories to be made from their materials, and marketing finished other apparel and accessories, are included. Examples of products made by these establishments are apparel trimmings and findings, belts, Women's scarves, and suspenders.

 

Industry            

Industry           Clothing and Apparel Manufacturing

ANZSIC 2006:   1351 - Clothing Manufacturing

ISIC Rev 4:        1410 - Manufacture of wearing apparel, except fur apparel

NACE Rev 2:     1419 - Manufacture of other wearing apparel and accessories n.e.c.

NAICS 2012:     315990 - Apparel Accessories and Other Apparel Manufacturing

UK SIC 2007:    1419 - Manufacture of other wearing apparel and accessories n.e.c.

US SIC 1987:    238 - Miscellaneous Apparel and Accessories

 

           


 

Key Executives

 

Name

Title

Henrik Aaen Kastberg

Managing Director / Director

Peter Høgsted Nielsen

Bestyrelsesformand

Lars Cordt

Bestyrelsesnæstformand

Lars Christian Holstein Holsteinborg

Board Member

Lesia Maria Zuk

Board Member

 

1 - Profit & Loss Item Exchange Rate: USD 1 = DKK 5.793028

2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.6443

 

Corporate Overview

 

Location

Krogenbergvej 15, Nyrup

Kvistgård, 3490

Denmark

Tel:       +45 49 18 11 88

Fax:      +45 49 18 02 13

Web:    www.noanoa.dk

           

Sales DKK(mil):             470.4

Assets DKK(mil):           287.7

Employees:                  35

Fiscal Year End:            31-Dec-2012

Industry:                       Apparel and Accessories

Incorporation Date:        1981

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(DNK):    60746214

Bestyrelsesformand:     Peter Høgsted Nielsen

 

Industry Codes

ANZSIC 2006 Codes:

1351     -          Clothing Manufacturing

 

ISIC Rev 4 Codes:

1410     -          Manufacture of wearing apparel, except fur apparel

141       -          Manufacture of wearing apparel, except fur apparel

 

NACE Rev 2 Codes:

1419     -          Manufacture of other wearing apparel and accessories n.e.c.

141       -          Manufacture of wearing apparel, except fur apparel

 

NAICS 2012 Codes:

315990  -          Apparel Accessories and Other Apparel Manufacturing

315210  -          Cut and Sew Apparel Contractors

3152     -          Cut and Sew Apparel Manufacturing

315240  -          Women’s, Girls’, and Infants’ Cut and Sew Apparel Manufacturing

31521   -          Cut and Sew Apparel Contractors

 

US SIC 1987:

238       -          Miscellaneous Apparel and Accessories

23         -          Apparel and Other Finished Products Made From Fabrics and Similar Materials

 

UK SIC 2007:

1419     -          Manufacture of other wearing apparel and accessories n.e.c.

141       -          Manufacture of wearing apparel, except fur apparel

 

Business Description

Noa Noa ApS is primarily engaged in manufacturing apparel and apparel accessories (except apparel knitting mills; cut and sew apparel contractors; cut and sew apparel; hats and caps; mittens and gloves; and men's and boys' neckwear). Jobbers for these products, who perform entrepreneurial functions involved in other apparel and accessory manufacture, including buying raw materials, designing and preparing samples, arranging for other apparel and accessories to be made from their materials, and marketing finished other apparel and accessories, are included. Examples of products made by these establishments are apparel trimmings and findings, belts, Women's scarves, and suspenders.

 

More Business Descriptions

Children's and Infants' Clothing Stores

 

 

Financial Data

Financials in:

DKK(mil)

Revenue:

470.4

Net Income:

-24.7

Assets:

287.7

Total Liabilities:

0.0

Date of Financial Data:

31-Dec-2012

1 Year Growth

NA

NA

NA

 Top

 

 

 

 

Corporate Family

Corporate Structure News:

Noa Noa ApS

Noa Noa ApS 
Total Corporate Family Members: 3 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Nn Ax 2 ApS

Parent

 

Noa Noa ApS

Subsidiary

Kvistgård, 2

Denmark

Clothing and Apparel Manufacturing

81.2

35

 

Noa Noa UK Ltd.

Subsidiary

London

United Kingdom

Clothing and Apparel Wholesale

8

 

 

 

 

Executive report

                                                                                             

Board of Directors

 

Name

Title

Function

 

Peter Høgsted Nielsen

Bestyrelsesformand

Chairman

 

Lars Cordt

Bestyrelsesnæstformand

Deputy Chairman

 

Lars Christian Holstein Holsteinborg

Board Member

Director/Board Member

 

Lesia Maria Zuk

Board Member

Director/Board Member

 

Peter Thostrup

Board Member

Director/Board Member

 

 

 

 

Executives

 

Name

Title

Function

Henrik Aaen Kastberg

Managing Director / Director

Managing Director

 

 

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

Yes

Yes

Yes

 

 

 

 

Total Revenue

81.2

100.2

98.7

Gross Profit

48.2

56.5

58.8

Operating Income

-3.8

0.0

11.0

Net Income

-4.3

-1.1

8.6

 

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

Yes

Yes

Yes

 

 

 

 

Total Assets

51.0

50.5

58.0

Provisions

0.1

0.1

-

Total Equity

19.9

24.5

29.3

 

Annual Ratios

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

Yes

Yes

Yes

 

 

 

 

Operating Margin

-4.73

-

11.15

Current Ratio

136.01

143.14

159.79

Total debt/total equity

38.98

48.60

50.47

Return on average equity

-

-

29.87

 

 

Annual Growth Rates

 

 

 

31-Dec-2011

31-Dec-2010

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

Yes

Yes

 

 

 

Turnover Percent Change

-12.38%

-3.30%

Marginal Contribution Percent Change

-7.66%

-8.51%

Operating Results Percent Change

-105,928.57%

-100.03%

Profit/Loss for the Year Percent Change

-305.91%

-112.55%

Assets Percent Change

-0.42%

-10.28%

Provisions Percent Change

-36.57%

-

Equity Capital Percent Change

-20.13%

-13.62%

Operating Margin Percent Change

-

-100.00%

Current Ratio Percent Change

-4.98%

-10.42%

Debt/Equity Ratio Percent Change

-19.79%

-3.71%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.13

UK Pound

1

Rs.99.65

Euro

1

Rs.82.91

                

INFORMATION DETAILS

 

Report Prepared by :

MNL

               

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.