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Report No. : |
319534 |
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Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AVK INTERNATIONAL A S |
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Formerly Known As : |
AVK SCAN WASS GROUP A/S SCAN WSS DANMARK APS |
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Registered Office : |
Smedeskovvej 40, Galten 8464 |
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Country : |
Denmark |
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Financials (as on) : |
2014 |
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Date of Incorporation : |
05.05.1986 |
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Com. Reg. No.: |
57693517 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of Taps and Valves. |
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No. of Employees : |
223 [2014] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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, 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 and has been slow to emerge from it in 2012-14 . 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. Despite previously meeting the criteria
to join the European Economic and Monetary Union (EMU), Denmark has negotiated
an opt-out with the EU and is not required to adopt the euro.
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Source
: CIA |
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Business Name |
AVK International
A/S |
|
Country |
DENMARK |
|
Company Registration Number |
57693517 |
|
Activity Code |
281400 |
|
Activity Description |
Manufacture of
taps and valves |
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Company Status |
Active (Active) |
|
Latest Turnover Figure |
540.668.000
DKK |
|
Latest Shareholder Equity Figure |
148.338.000
DKK |
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Local Description |
Businesses at this
level are regarded as having excellent creditworthiness. Small businesses
only have a limited possibility of achieving this level. Businesses at this
level are in a class by themselves and will have results or financial
foundations which are among the best in the country. The credit risk is
regarded as minimal. |
Basic
Information
|
|
|
Business Name |
AVK International A/S |
|
Registered Company Name |
AVK International A/S |
|
Company Registration Number |
57693517 |
|
Country |
DENMARK |
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Date of Company Registration |
05/05/1986 |
|
Legal Form |
Limited company |
|
Company Status |
Active (Active) |
|
Currency of this Report |
DKK |
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Principal Activity Code |
281400 |
|
Principal Activity Description |
Manufacture of taps and valves |
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Contact Address |
Smedeskovvej 40, Galten 8464 |
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Contact Telephone Number |
87542100 |
Main
Address
|
|
|
|
Address |
Country |
Telephone |
|
Smedeskovvej 40, Galten 8464 |
DENMARK |
87542100 |
|
Activity Code |
Activity
Description |
|
281400 |
Manufacture of
taps and valves |
debit@avk.dk
www.avkvalves.com
Previous Name
AVK Scan Wass Group A/S Scan Wss Danmark ApS
|
Year |
Number of Employees |
|
2014 |
223 |
|
2013 |
230 |
|
2012 |
226 |
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Real
Estate
|
|
|
Real Estate |
No |
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Other
Trading Names
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|
Type |
Name |
|
Business name |
AVK Danmark A/S |
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Business name |
AVK Maskinfabrik A/S |
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Business name |
AVK Scan Wass Group A/S |
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Global
Trading Information
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Export |
Worldwide |
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Import |
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Other
Information
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|
Type |
Text |
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No. of employees |
According to information from the business the number of employees is
280. |
|
Historical data |
The company was originally formed 1977, and 1996 it merged with AVK
Maskinfabrik A/S (REG 103.833), the registered company being the continuing
one. |
|
Historical data |
The company was originally formed in 1977 under the name of ApS Scan
Wass Danmark, but has changed its name several times, most recently in 1996
to its present name. |
|
Historical data |
In 1987 the legal form was changed. |
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Capital conditions |
fully paid up |
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Event Date |
Detail |
Current Status |
Date Completed |
Additional
Information |
|
1994-02-22 |
Mortgage on property |
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2008-04-24 |
Mortgage on property |
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1997-08-29 |
Mortgage on property |
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Additional Accounts Information |
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Date Format |
MM-DD |
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Accounts Start Date |
10-01 |
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Accounts End Date |
09-30 |
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Profit
and Loss
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|||
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Financial Year |
2014 |
2013 |
2012 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
|
Revenue |
540.668.000 |
505.477.000 |
536.965.000 |
|
Operating Profit |
54.382.000 |
42.618.000 |
68.977.000 |
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Retained Profit |
37.950.000 |
27.071.000 |
50.016.000 |
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Balance
Sheet
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|||
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Financial Year |
2014 |
2013 |
2012 |
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Number of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
TOTAL ASSETS |
373.936.000 |
348.797.000 |
358.033.000 |
|
Other Reserves |
148.338.000 |
150.163.000 |
161.881.000 |
Share
Capital Structure
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||
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Nominal Share Capital |
11.000.000 DKK |
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Shareholders |
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Shareholder |
Address |
% Shares Held |
|
AVK Holding A/S |
Søndergade 33 Galten 8464 DNK |
100 |
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Current
Directors
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||
|
Name |
Appointment Date |
Position |
|
Morten Sæderup Nielsen |
29/06/2004 |
Managing director |
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Niels Aage Kjær |
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Member of the board |
|
Lars Kudsk |
14/09/2007 |
Member of the board |
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Jørgen Bo Johansen |
27/11/2008 |
Member of the board |
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Lars Skaarup Damgaard Nielsen |
23/09/1996 |
Elected by employees |
|
Jens Erik Jensen |
27/06/2011 |
Elected by employees |
|
Steen Skaanning |
14/08/2006 |
Finance |
|
Morten Sæderup Nielsen |
24/02/2005 |
Sales |
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Kristian Keldgaard |
18/08/2011 |
Sales |
|
Carsten Tonnes |
07/08/2009 |
Production |
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Ultimate Holding Company Name |
AVK Holding A/S |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.