|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADAX
A/S |
|
|
|
|
Formerly Known As : |
ADAX
SCANDINAVIA HANDELSHUSET AF 1982 APS |
|
|
|
|
Registered Office : |
Vestre
Hedevej 18, Roskilde 4000 |
|
|
|
|
Country : |
Denmark |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
27.08.1982 |
|
|
|
|
Com. Reg. No.: |
71231518 |
|
|
|
|
Legal Form : |
Limited
Company |
|
|
|
|
Line of Business : |
Wholesale
of luggage and leather articles |
|
|
|
|
No of Employees : |
20 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
|
Business
Name |
ADAX A/S |
|
Country |
DENMARK |
|
Company
Registration Number/CVR |
71231518 |
|
Main
Code |
464930 |
|
Main
Activity |
Wholesale
of luggage and leather articles |
|
Company
Status |
Active |
|
Latest
Revenue |
|
|
Latest
Shareholder Equity |
16.264.000 |
|
Basic Information |
|
|
Business
Name |
ADAX
A/S |
|
Registered
Company Name |
ADAX
A/S |
|
Company
Registration Number |
71231518 |
|
Country |
DENMARK |
|
Date
of Company Registration |
1982-08-27 |
|
Legal
Form |
Limited
company |
|
Company
Status |
Active |
|
Currency
of this Report |
DKK |
|
Principal
Activity Code |
464930 |
|
Principal
Activity Description |
Wholesale
of luggage and leather articles |
|
Contact
Address |
Vestre
Hedevej 18, Roskilde 4000 |
|
Contact
Telephone Number |
43444410 |
|
Activities |
|
|
Activity Code |
Activity Description |
|
464930 |
Wholesale
of luggage and leather articles |
|
Previous Names |
|
|
|
Previous
Name |
Date
Changed from Previous Name |
|
|
Adax
Scandinavia Handelshuset af 1982 ApS |
||
Profit and Loss
|
Financial
Date |
2013 |
2012 |
2011 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Revenue |
- |
- |
- |
|
Operating
Profit |
9.489.000 |
9.429.000 |
7.480.000 |
|
Retained
Profit |
6.530.000 |
7.790.000 |
5.970.000 |
Balance Sheet
|
Financial
Date |
2013 |
2012 |
2011 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Total
Assets |
39.232.000 |
37.701.000 |
30.450.000 |
|
Other
Reserves |
16.264.000 |
20.006.000 |
17.119.000 |
Main Address
Address Country Telephone
Vestre Hedevej 18, Roskilde 4000 DENMARK 43444410
Email Addresses
adax@adax.dk
Web Pages
www.adax.dk
Share Capital Structure
Currency DKK
Nominal Share Capital 1.000.000
|
Current Directors |
||
|
Name |
Position |
Start
Date |
|
Eugen
Silfen |
General
manager |
|
|
Eugen
Silfen |
Member
of the board |
|
|
Helle
Rorbaek Silfen |
Member
of the board |
|
|
Bente
Rorbaek Heiberg |
Member
of the board |
|
|
Helle
Rorbaek Silfen |
Sales |
|
|
Helle
Rorbaek Silfen |
Marketing |
|
Ultimate Holding Parent
|
Name |
Country |
|
Adax Holding ApS |
|
Subsidaries
|
Name |
Country |
|
Adax
Norway A/S |
NORWAY |
Employee Information
Year Reported Number of Employees
2013 20
Real Estate
Real Estate No
|
Other Trading Names |
||
|
Type |
Name |
|
|
Business
name |
Cavalet
A/S |
|
Global Trading Information
Export Europe
Import
|
Other Information |
|
|
Type |
Text |
|
Historical
data |
The
company merged on 03-08-2006 with Cavalet A/S (75162812) , the registered
company being the continuing one. |
|
Historical
data |
The
Company has in connection with a conversion on the 2001-05-03 changed its
name and legal form to the present ones. |
|
Capital
conditions |
fully
paid up |
|
Additional Accounts
Information |
|
|
|
Date Format |
MM-DD |
|
|
Accounts Start Date |
01-01 |
|
|
Accounts End Date |
12-31 |
|
|
|
||
|
Additional Accounts Notes |
||
|
Notes Date |
Notes Detail |
|
|
2013-01-01T00:00:00 |
In
the financial statement of 2013 attention is drawn to leasing commitments. |
|
|
Other Trading Names |
|
|
Type |
Name |
|
Business
name |
Cavalet
A/S |
Global Trading Information
Export Europe
Import
|
Other Information |
|
|
Type |
Text |
|
Historical
data |
The
company merged on 03-08-2006 with Cavalet A/S (75162812), the registered
company being the continuing one. |
|
Historical
data |
The
Company has in connection with a conversion on the 2001-05-03 changed its
name and legal form to the present ones. |
|
Capital
conditions |
fully
paid up |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.