MIRA INFORM REPORT

 

 

Report No. :

356845

Report Date :

30.12.2015

 

IDENTIFICATION DETAILS

 

Name :

FREDSTED THE A/S

 

 

Registered Office :

Unionsvej 4 4600 Koge

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

04.06.2004

 

 

Com. Reg. No.:

19184838

 

 

Legal Form :

Limited company - A/S

 

 

Line of Business :

Wholesale of coffee, tea, cocoa and spices

 

 

No. of Employee :

7

 

 

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.

 

 

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.

 

Source : CIA

 

Summary

 

Company name

Fredsted The A/S

Status

Active

 

 

Contact information

 

Company name

Fredsted The A/S

Trading name

GEMI TRADING A/S

GEMI A/S

NATURE FOODS A/S

PURE NATURE A/S

SNACKSFOOD A/S

T-GOURMET A/S

THEKOMPAGNIET A/S

URTETEKET A/S

Operative address

Unionsvej 4
4600 Koge

Correspondence address

Unionsvej 4
4600 Koge

 

Telephone number

+45 56303600

Email address

info@thewholecompany.dk

Website

www.thewholecompany.dk

 

 

Registration

 

Registration number

19184838

VAT-number

DK19 18 48 38

Status

Active

Establishment date

04/06/2004

 

Legal form

Limited company - A/S

Subscribed share capital

DKK 510.000

 

 

Activities

 

4637: Wholesale of coffee, tea, cocoa and spices

 

 

Relations  

 

Shareholders

Name: THE WHOLE COMPANY A/S
National id number: 14303693
Address: Bybjerg 11
City: SOLRØD STRAND
Country: DK
Phone: +45 56169766
Website: www.thewholecompany.dk
Type: Financial company
Total assets: 24.80849 mil. USD
Profit loss before tax: 0.672 mil. USD
Profit loss after tax net income: 0.393 mil. USD
Shareholders funds: 60.834 mil. USD
Number of employees: 98

Name: KØGE INVEST A/S
National id number: 30720083
Address: Unionsvej 4
City: KØGE
Country: DK
Type: Industrial company
Total assets: 1.24372 mil. USD
Profit loss before tax: 5.927 mil. USD
Profit loss after tax net income: 5.952 mil. USD
Shareholders funds: 7.013 mil. USD

Structure

No subsidiaries on record

 

Branches

No branches  on record

 

 

Management

 

Management

 Fullname: Mr Svend Aage Dreist Hansen
Type: Individual
Gender: Male
Country of nationality: Denmark
Address: Denmark
Function: Chairman
Level of responsibility: President / Chairman
Appointment date: 2004/06/04

Fullname: Mr Kenneth Bo Codam
Type: Individual
Gender: Male
date of birth: 1959/11/01
Age: 56
Country of nationality: Denmark
Address: Denmark
Function: Member of the Board
Level of responsibility: Member
Appointment date: 2004/06/04

Fullname: Mr Bjarne Gribsgaard Olsen
Type: Individual
Gender: Male
Country of nationality: Denmark
Address: Denmark
Function: Member of the Board
Level of responsibility: Member
Appointment date: 2004/06/04

Fullname: Mr Henrik Winther Olsen
Type: Individual
Gender: Male
date of birth: 1966/04/30
Age: 49
Country of nationality: Denmark
Address: Denmark
Country: Denmark
Function: Member of the Board
Level of responsibility: Member
Appointment date: 2004/06/04

Fullname: Mr Niels Ulrik Svendsen
Type: Individual
Gender: Male
Country of nationality: Denmark
Address: Denmark
Function: Member of the Board
Level of responsibility: Member
Appointment date: 2014/04/07

Fullname: Mr Kaj Winther-Olsen
Type: Individual
Gender: Male
Country of nationality: Denmark
Address: Denmark
Function: Member of the Board
Level of responsibility: Member
Appointment date: 2004/06/04

 

 

 

Employees

 

Year

2015

 

 

 

 

 

7 employees

 

 

 

 

 

 

Bank

           

Nordea Bank Danmark A/S

 

 

Payments

 

No complaints on record

 

 

Remarks

 

Auditor: Name: Ernst & Young Godkendt Revisionspartnerselskab

 

 

Financial statement

 

Finances in EURO

 

Key figures

 

Year

2014

2013

2012

2011

Quick ratio

1,03

0,61

0,55

0,55

Current ratio

1,60

1,18

1,04

0,99

Working capital/ balance total

0,34

0,14

0,04

-0,01

Equity / balance total

0,44

0,20

0,13

0,13

Equity / Fixed assets

4,19

2,61

1,15

0,83

Working capital

1.501.750

562.518

143.305

-34.300

Equity

1.941.471

822.543

507.191

505.499

Mutation equity

136,03

62,18

0,33

18,43

Mutation short term liabilities

-21,76

-7,22

2,99

3,80

Return on total assets (ROA)

13,26

11,00

0,75

2,30

Return on equity (ROE)

30,42

54,27

5,97

17,78

Gross margin

1.839.210

2.662.012

2.328.364

2.383.434

Operating result

633.746

547.514

145.849

203.114

Net result after taxes

444.699

335.849

22.500

67.391

Cashflow

597.955

472.895

182.814

246.697

EBITDA

787.003

684.559

306.163

382.420

 

 

Balance sheet

 

Year

2014

2013

2012

2011

End date

2014-12-31

2013-12-31

2012-12-31

2011-12-31

Intangible fixed assets

447.121

268.599

370.985

475.503

Tangible fixed assets

11.841

46.620

71.518

129.939

Other fixed assets

3.902

Fixed assets

462.864

315.219

442.503

605.443

Total stock

1.423.575

1.798.878

1.674.654

1.479.373

Total receivables

2.114.641

1.620.973

1.734.655

1.582.410

Liquid funds

206.001

50.907

35.357

19.370

Other current assets

245.694

271.814

126.028

212.530

Current assets

3.989.911

3.742.571

3.570.694

3.293.683

Total assets

4.452.775

4.057.790

4.013.197

3.899.125

Total equity

1.941.471

822.543

507.191

505.499

Provisions

23.143

55.193

78.483

65.508

Accounts payable

476.050

554.614

413.306

566.030

Short term liabilities

2.488.161

3.180.053

3.427.389

3.327.983

Total liabilities

4.452.775

4.057.790

4.013.197

3.899.125

 

 

Profit & Loss

 

Year

2014

2013

2012

2011

Gross margin

1.839.210

2.662.012

2.328.364

2.383.434

Wages and salaries

1.045.480

Amorization and depreciation

153.256

137.046

160.314

179.306

Operating expenses

1.205.464

2.114.498

2.182.515

2.180.319

Operating result

633.746

547.514

145.849

203.114

Financial income

44.672

938

7.902

807

Financial expenses

87.863

102.081

123.483

114.067

Financial result

-43.192

-101.143

-115.581

-113.260

Result on ordinary operations before taxes

590.555

446.370

30.268

89.855

Taxation on the result of ordinary activities

145.856

110.521

7.768

22.464

Result of ordinary activities after taxes

444.699

335.849

22.500

67.391

Net result

444.699

335.849

22.500

67.391

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.37

UK Pound

1

Rs.98.91

Euro

1

Rs.72.85

DKK

1

Rs.9.72

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.