|
Report No. : |
306859 |
|
Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DR DENIM AB |
|
|
|
|
Registered Office : |
Kungsgatan 7A, 4tr, 41119 Göteborg |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2014 |
|
|
|
|
Date of Incorporation : |
14.04.2003 |
|
|
|
|
Com. Reg. No.: |
5566432836 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
16 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Sweden |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWEDEN - ECONOMIC OVERVIEW
Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a highly skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports. Agriculture accounts for little more than 1% of GDP and of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This, and robust finances, offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and the contraction continued in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden's banking sector drove a rebound in 2010, but growth slipped in 2013, as a result of continued economic weakness in the EU - Sweden’s main export market.
|
Source
: CIA |
Company
Summary
|
|
|
Business Name |
DR DENIM AB |
|
Country |
SWEDEN |
|
Company
Registration Number |
5566432836 |
|
Activity Code |
46420 |
|
Activity
Description |
Wholesale of clothing and footwear |
|
Company Status |
Active (Active) |
|
Latest Turnover
Figure |
245.107.000 SEK |
|
Latest Shareholder
Equity Figure |
61.838.000 SEK |
|
Creditsafe
International Description |
Very Low Risk |
|
Local Score |
99 |
|
Local
Description |
Very good credit worthiness |
Basic
Information
|
|
|
Business Name |
Dr Denim AB |
|
Registered
Company Name |
Dr Denim AB |
|
Company
Registration Number |
5566432836 |
|
Country |
SWEDEN |
|
VAT Registration
Number |
SE556643283601 |
|
Date of Company
Registration |
14/04/2003 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active (Active) |
|
Currency of this
Report |
SEK |
|
Principal
Activity Code |
No code |
|
Principal
Activity Description |
Föremĺlet för bolagets verksamhet är design, distribution och
marknadsföring av kläder och textilier samt därmed förenlig verksamhet. |
|
Contact Address |
Kungsgatan 7A, 4tr, 41119 GÖTEBORG |
|
Contact
Telephone Number |
031-291991 |
Main
Address
|
|
|
|
Address |
Country |
Telephone |
|
Kungsgatan 7A, 4tr, 41119 GÖTEBORG |
SWEDEN |
031-291991 |
|
Address |
Country |
|
No other addresses
for this company |
|
Activities
|
|
|
Activity Code |
Activity
Description |
|
46420 |
Wholesale of clothing and footwear |
|
74101 |
Industrial and fashion design |
|
Year |
Number of
Employees |
|
|
2014 |
16 |
|
|
2013 |
10 |
|
|
2012 |
7 |
|
|
2011 |
7 |
|
|
2010 |
7 |
|
Advisors
|
|
|
|
Auditor Name |
Ernst & Young Aktiebolag |
|
Tax
Registrations
|
|
|
|
Registered for FTax |
Yes |
|
|
Registered for VAT |
Yes |
|
|
Registered for Employee Tax |
Yes |
|
Industry
Comparison
|
|
|
|
Activity Code |
46420 |
|
|
Activity
Description |
Wholesale of clothing and footwear |
|
|
Industry Average
Credit Rating |
68 (1 - 100) |
|
|
Industry Average
Credit Limit |
555.000 |
|
Event
History
|
|
|||
|
Event Date |
Event Description |
|
||
|
03/02/2015 |
Annual account, new |
|
||
|
24/04/2014 |
Group Structure Change |
|
||
|
Event Date |
Event Description |
|
|
|
|
17/04/2014 |
Annual account, new |
|
|
|
|
11/04/2014 |
Group Structure Change |
|
|
|
|
10/04/2014 |
Annual report (PDF), new |
|
|
|
|
06/03/2013 |
Limit, increase |
|
|
|
|
06/03/2013 |
Annual account, new |
|
|
|
|
27/02/2013 |
Annual report (PDF), new |
|
|
|
|
22/02/2013 |
Company name, changed (old name: Megalodon Manufaktur AB) |
|
|
|
|
14/02/2012 |
Board, changed |
|
|
|
|
14/02/2012 |
Company representatives, changed |
|
|
|
|
13/02/2012 |
Annual account, new |
|
|
|
|
13/02/2012 |
Limit, increase |
|
|
|
|
09/02/2012 |
Annual report (PDF), new |
|
|
|
|
26/01/2012 |
Company representatives, changed |
|
|
|
|
26/01/2012 |
Board, changed |
|
|
|
|
19/05/2011 |
Annual account, new |
|
|
|
|
16/05/2011 |
Annual report (PDF), new |
|
|
|
|
07/05/2011 |
Company business activity, changed |
|
|
|
|
28/02/2011 |
Limit, increase |
|
|
|
|
28/02/2011 |
Annual account, new |
|
|
|
|
21/02/2011 |
Annual report (PDF), new |
|
|
|
|
18/03/2010 |
Annual account, new |
|
|
|
|
18/03/2010 |
Limit, increase |
|
|
|
|
05/03/2010 |
Annual report (PDF), new |
|
|
|
Profit
and Loss
|
|
||
|
Financial Year |
2014 |
2013 |
2012 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated
Accounts |
No |
No |
No |
|
Revenue |
245.427.000 |
211.239.000 |
156.870.000 |
|
Operating Costs |
210.836.000 |
179.649.000 |
136.801.000 |
|
Operating Profit |
34.591.000 |
31.590.000 |
20.069.000 |
|
Wages &
Salaries |
-9.459.000 |
-6.328.000 |
-3.421.000 |
|
Depreciation |
-464.000 |
-417.000 |
-617.000 |
|
Financial Income |
447.000 |
94.000 |
162.000 |
|
Financial
Expenses |
-972.000 |
-1.180.000 |
-497.000 |
|
Extraordinary
Income |
0 |
0 |
0 |
|
Extraordinary
Costs |
0 |
0 |
0 |
|
Profit before
Tax |
34.066.000 |
30.504.000 |
19.734.000 |
|
Tax |
-5.915.000 |
-6.127.000 |
-4.258.000 |
|
Profit after Tax |
28.151.000 |
24.377.000 |
15.476.000 |
|
Minority
Interests |
0 |
0 |
0 |
|
Other
Appropriations |
-8.563.000 |
-7.587.000 |
-3.910.000 |
|
Retained Profit |
19.587.000 |
16.789.000 |
11.566.000 |
Balance
Sheet
|
|
|
|
|
Financial Year |
2014 |
2013 |
2012 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated
Accounts |
No |
No |
No |
|
Land &
Buildings |
0 |
0 |
0 |
|
Plant &
Machinery |
0 |
0 |
0 |
|
Other Tangible
Assets |
983.000 |
979.000 |
1.426.000 |
|
Total Tangible
Assets |
983.000 |
979.000 |
1.426.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible
Assets |
0 |
0 |
0 |
|
Total Intangible
Assets |
0 |
0 |
0 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
1.172.000 |
1.886.000 |
1.922.000 |
|
Total Other
Fixed Assets |
1.172.000 |
1.886.000 |
1.922.000 |
|
TOTAL FIXED
ASSETS |
2.155.000 |
2.865.000 |
3.347.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other
Inventories |
48.607.000 |
44.770.000 |
38.115.000 |
|
Total
Inventories |
48.607.000 |
44.770.000 |
38.115.000 |
|
Trade
Receivables |
33.797.000 |
37.446.000 |
31.746.000 |
|
Group
Receivables |
4.514.000 |
1.323.000 |
0 |
|
Miscellaneous
Receivables |
10.026.000 |
4.604.000 |
6.341.000 |
|
Total
Receivables |
48.337.000 |
43.373.000 |
38.087.000 |
|
Cash |
53.630.000 |
24.178.000 |
7.389.000 |
|
Other Current
Assets |
0 |
0 |
0 |
|
TOTAL CURRENT
ASSETS |
150.574.000 |
112.320.000 |
83.591.000 |
|
TOTAL ASSETS |
152.729.000 |
115.185.000 |
86.938.000 |
|
Trade Payables |
46.128.000 |
33.569.000 |
35.896.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
5.859.000 |
6.551.000 |
2.902.000 |
|
Miscellaneous
Liabilities |
9.388.000 |
10.225.000 |
5.602.000 |
|
TOTAL CURRENT
LIABILITIES |
61.375.000 |
50.345.000 |
44.400.000 |
|
Bank Liabilities
Due After 1 Year |
0 |
0 |
0 |
|
Other Loans Or
Finance Due After 1 Year |
0 |
0 |
0 |
|
Group Payables
Due After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
29.516.000 |
22.626.000 |
17.042.000 |
|
TOTAL LONG TERM LIABILITIES |
29.516.000 |
22.626.000 |
17.042.000 |
|
TOTAL
LIABILITIES |
90.891.000 |
72.971.000 |
61.442.000 |
|
Called Up Share
Capital |
200.000 |
200.000 |
200.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
61.638.000 |
42.014.000 |
25.296.000 |
|
Other Reserves |
0 |
0 |
0 |
|
TOTAL
SHAREHOLDERS EQUITY |
61.838.000 |
42.214.000 |
25.496.000 |
Other
Financials
|
|
|
|
|
Contingent
Liabilities |
13.429.000 |
8.330.000 |
11.548.000 |
|
Working Capital |
89.199.000 |
61.975.000 |
39.191.000 |
|
Net Worth |
61.838.000 |
42.214.000 |
25.496.000 |
Ratios
|
|
|
|
|
Pre-Tax Profit
Margin |
13.88 % |
14.44 % |
12.58 % |
|
Return On
Capital Employed |
15.91 % |
18.43 % |
15.03 % |
|
Return On Total
Assets Employed |
22.30 % |
26.48 % |
22.70 % |
|
Return On Net
Assets Employed |
55.09 % |
72.26 % |
77.40 % |
|
Sales/Net
Working Capital |
2.75 |
3.41 |
4.00 |
|
Stock Turnover
Ratio |
19.81 % |
21.19 % |
24.30 % |
|
Debtor Days |
50.26 |
64.70 |
73.87 |
|
Creditor Days |
68.60 |
58.00 |
83.52 |
|
Current Ratio |
2.45 |
2.23 |
1.88 |
|
Liquidity
Ratio/Acid Test |
1.66 |
1.34 |
1.02 |
|
Current Debt
Ratio |
0.99 |
1.19 |
1.74 |
|
Gearing |
0 |
0 |
0 |
|
Equity In
Percentage |
40.80 % |
37.26 % |
29.99 % |
|
Total Debt Ratio |
1.47 |
1.73 |
2.41 |
Share
Capital Structure
|
|
|
|
Issued Share
Capital |
200.000 SEK |
|
Shareholders
|
|
|
|
No shareholders data for this company. |
|
|
Current
Directors
|
||
|
Name |
Appointment Date |
Position |
|
Heinz Peter Johannes Graah |
01/11/2003 |
Actual Member of Board |
|
Peter Alexander Arvid Graah |
01/11/2003 |
Actual Member of Board |
|
Peter Morten Graah |
01/11/2003 |
Substitute |
Negative
Information
|
|
|
Debt Balance |
|
|
Currency |
SEK |
|
Number Of Private Claims |
0 |
|
Balance Of Private Claims |
0 |
|
Number Of Public Claims |
0 |
|
Balance Of Public Claims |
0 |
|
Total Balance |
0 |
|
Record of Non
Payment |
|
|
Number Of Distraint Or Repossessions |
0 |
|
Number Of Public Claims |
0 |
|
Number Of Private Claims |
0 |
|
Number Of Applications |
0 |
|
Number Of Revoked Applications |
0 |
No Latest Public Claim for this company.
No Latest Private Claim for this company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.87 |
|
|
1 |
Rs. 94.07 |
|
Euro |
1 |
Rs. 70.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.