|
Report No. : |
308399 |
|
Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
|
Correct Name : |
MASCOT INTERNATIONAL AS |
|
|
|
|
Formerly Known as : |
Scan Thermo Konfektion A/S |
|
|
|
|
Registered Office : |
Julsøvej 100, 8600 Silkeborg, Silkeborg/Midtjylland |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.01.1990 |
|
|
|
|
Com. Reg. No.: |
13863385 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Engaged as Developing, manufacturer of workwear & Safety Footwear |
|
|
|
|
No of Employees : |
213 (As on 31.12.2013) |
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) |
|
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 |
Identification -
company profile
|
Company name |
|
Phone-no. |
87244700 |
||||
|
Address |
|
Fax |
87244701 |
||||
|
Postal code/city |
|
Www |
|
||||
|
Municipality/County |
|
E-mail |
|
||||
|
KOB-no. |
82436 |
CVR-no. |
13863385 |
Management
|
Management |
Michael
John Grosbøl, Managing director (Joined - 3. August
1998) |
|
Board members |
John Kjærgaard
Grosbøl, Chairman (Joined before 1994) |
|
Divisional managers |
Michael Grosbøl
, Finance |
No negative information found.
|
Share capital |
DKK
500.000,00 |
|
Payment remarks |
No |
Export - Import
|
Export areas |
Europe |
|
Import areas |
Europe |
Group relations
and ownership
|
Parent company |
Mascot Holding A/S (100%) |
|
Associated business |
Wedoecom Ltd (VNM) (50%) |
|
Subsidiaries |
Mascot
International GmbH (DEU) (100%) |
Financial data
|
Financial period |
1. January - 31. December |
|
Account
change period |
1. July 1992 - 31. December
1992 |
||
|
Leasing commitments |
|
|
Nomination |
|
|
Financial year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Published on |
2014-04-17 |
2013-05-29 |
2012-04-10 |
2011-04-15 |
2010-05-28 |
|
Closing date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
No. of months |
12 |
12 |
12 |
12 |
12 |
|
Number of employees |
213 |
230 |
213 |
192 |
201 |
|
Profit and Loss account |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Gross turnover |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Charges |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Turnover |
531.410 |
504.882 |
516.494 |
437.043 |
374.789 |
|
Change in stocks |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Work for own account |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other oper. income |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Trade consumption |
N/A |
N/A |
N/A |
N/A |
N/A |
|
External costs |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Production costs |
-333.421 |
-314.712 |
-301.332 |
-260.699 |
-223.981 |
|
Gross profit |
197.989 |
190.170 |
215.162 |
176.344 |
150.808 |
|
Marketing costs |
-88.383 |
-92.128 |
-88.410 |
-78.709 |
-82.362 |
|
Administration costs |
-51.069 |
-53.799 |
-53.072 |
-44.370 |
-41.649 |
|
RogD-costs |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Personnel costs (A) |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Personnel costs (N) |
-102.285 |
-110.610 |
-100.105 |
-86.925 |
-89.357 |
|
Personnel costs |
-102.285 |
-110.610 |
-100.105 |
-86.925 |
-89.357 |
|
Depreciation (acc.) |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Depreciation (note) |
-9.939 |
-11.462 |
-11.744 |
-11.076 |
-10.256 |
|
Depreciation |
-9.939 |
-11.462 |
-11.744 |
-11.076 |
-10.256 |
|
Other operat. costs |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other income |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Operating profit |
58.537 |
44.243 |
73.680 |
53.265 |
26.797 |
|
Financing income |
2.938 |
3.044 |
3.231 |
2.371 |
3.004 |
|
Financing costs |
-13.887 |
-16.124 |
-11.281 |
-9.292 |
-12.029 |
|
Income from shares |
579 |
-2.587 |
5.603 |
7.990 |
2.497 |
|
Income other shares |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other fin. income |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Amort. fin. assets |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other financial cost |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Financial items |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Financial income |
3.517 |
3.044 |
8.834 |
10.361 |
5.501 |
|
Financial expenses |
-13.887 |
-18.711 |
-11.281 |
-9.292 |
-12.029 |
|
Financial items net |
-10.370 |
-15.667 |
-2.447 |
1.069 |
-6.528 |
|
Secondary Items |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Ordinary result |
48.167 |
28.576 |
71.233 |
54.334 |
20.269 |
|
Extraord. income |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Extraord. costs |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Extraord. result |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Extraordinary items |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Pre-tax profit |
48.167 |
28.576 |
71.233 |
54.334 |
20.269 |
|
Tax o.ext.ord.result |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Tax on annual result |
-10.920 |
-7.861 |
-16.499 |
-11.630 |
-4.443 |
|
Other fiscal |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Tax-regulation |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Annual result |
37.247 |
20.715 |
54.734 |
42.704 |
15.826 |
|
Min.int.share res. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Res.af.min.int.share |
37.247 |
20.715 |
54.734 |
42.704 |
15.826 |
|
Dividend of result |
30.000 |
2.000 |
5.000 |
4.000 |
2.000 |
|
Assets |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Goodwill |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Developing project |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Patents/other rights |
0 |
14 |
40 |
65 |
106 |
|
Other intang.assets |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Intang. fix. assets |
0 |
14 |
40 |
65 |
106 |
|
Land and buildings |
2.032 |
0 |
0 |
0 |
0 |
|
Plant, machinery etc |
21.775 |
25.545 |
25.442 |
26.917 |
26.707 |
|
Assets under constr. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other tangib.assets |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Tang. fixed assets |
23.807 |
25.545 |
25.442 |
26.917 |
26.707 |
|
Participating invest |
30.618 |
30.800 |
33.093 |
31.229 |
25.126 |
|
Other investments |
965 |
614 |
560 |
911 |
806 |
|
Receivables in group |
123.293 |
112.766 |
78.210 |
33.663 |
31.262 |
|
Oth.fin. receivables |
1.370 |
1.363 |
1.222 |
1.213 |
1.396 |
|
Own shares |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other fin. assets |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Fin. fixed assets |
156.246 |
145.543 |
113.085 |
67.016 |
58.590 |
|
Fixed assets |
180.053 |
171.102 |
138.567 |
93.998 |
85.403 |
|
Inventories |
365.583 |
363.609 |
365.803 |
265.310 |
297.713 |
|
Work in progress |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Work in progr. gross |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Property for sale |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Debtors |
46.047 |
39.805 |
39.204 |
36.040 |
23.687 |
|
Receivables in group |
14.484 |
13.878 |
29.740 |
22.446 |
19.941 |
|
Receivables fr.owner |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other receivables |
5.924 |
3.198 |
3.848 |
410 |
827 |
|
Pre-paym/accrued inc |
3.724 |
1.571 |
2.311 |
4.496 |
1.213 |
|
Securities |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Cash in hand/bank |
308 |
354 |
1.160 |
256 |
69 |
|
Other current assets |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Current assets |
436.070 |
422.415 |
442.066 |
328.958 |
343.450 |
|
Balance |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Balance |
616.123 |
593.517 |
580.633 |
422.956 |
428.853 |
|
Liabilities |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Share capital |
500 |
500 |
500 |
500 |
500 |
|
Revaluation reserves |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Transferred result |
243.306 |
226.401 |
220.449 |
176.766 |
142.979 |
|
Expected dividend |
30.000 |
2.000 |
5.000 |
4.000 |
2.000 |
|
Other reserve |
12.293 |
13.151 |
15.444 |
13.394 |
7.166 |
|
Premium on issue |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Own share of equity |
286.099 |
242.052 |
241.393 |
194.660 |
152.645 |
|
Min. interests share |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Equity |
286.099 |
242.052 |
241.393 |
194.660 |
152.645 |
|
Deferred tax |
10.830 |
0 |
1.376 |
720 |
1.721 |
|
Pensions |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other provisions |
15.191 |
15.569 |
15.051 |
13.765 |
16.931 |
|
Provisions |
26.021 |
15.569 |
16.427 |
14.485 |
18.652 |
|
Subord.loan cap. UDW |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Subord.loan capital |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Subord.loan capital |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Lt.debt to creditins |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Mortgage debt |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Lt. bank debt |
3.257 |
6.409 |
9.569 |
15.074 |
20.200 |
|
Lt. debt to group |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Lt. debt to owner |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other long-term debt |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Long-term liab. |
3.257 |
6.409 |
9.569 |
15.074 |
20.200 |
|
Cur.liab.to creditin |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Current bank debt |
189.662 |
217.645 |
241.044 |
141.135 |
189.388 |
|
Cur.liab. to group |
14.103 |
15.855 |
5.545 |
1.178 |
7.754 |
|
Cur.liab. to owner |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Creditors |
27.155 |
15.367 |
22.972 |
17.449 |
10.113 |
|
Company tax |
N/A |
0 |
0 |
3.757 |
N/A |
|
Dividend |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Dividends |
30.000 |
2.000 |
5.000 |
4.000 |
2.000 |
|
Prepayment |
N/A |
N/A |
N/A |
N/A |
N/A |
|
On acc.work in progr |
N/A |
N/A |
N/A |
N/A |
N/A |
|
On acc.work prog. gr. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Other debt |
69.826 |
80.620 |
43.683 |
35.218 |
30.101 |
|
Pre-paym/accrued inc |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Oth.cur. liabilities |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Short-term liab. |
300.746 |
329.487 |
313.244 |
198.737 |
237.356 |
|
Balance |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Total liabilities |
616.123 |
593.517 |
580.633 |
422.956 |
428.853 |
|
Property |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Off. ratable value |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Assessment date |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Ratios |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Turnover/Employee |
2.495 |
2.195 |
2.425 |
2.276 |
1.865 |
|
Oper.Profit/Employee |
275 |
192 |
346 |
277 |
133 |
|
Ord. Res./Employee |
226 |
124 |
334 |
283 |
101 |
|
Ann. Res./Employee |
226 |
124 |
334 |
283 |
101 |
|
Fixed assets/Empl. |
845 |
744 |
651 |
490 |
425 |
|
Pers. costs/Employee |
-480 |
-481 |
-470 |
-453 |
-445 |
|
Contribution ratio |
37,26 |
37,67 |
41,66 |
40,35 |
40,24 |
|
Net profit ratio |
11,02 |
8,76 |
14,27 |
12,19 |
7,15 |
|
Capacity ratio |
1,42 |
1,30 |
1,52 |
1,43 |
1,22 |
|
Return on investment |
9,50 |
7,45 |
12,69 |
12,59 |
6,25 |
|
Operational leverage |
3,38 |
4,30 |
2,92 |
3,31 |
5,63 |
|
Wage ratio |
51,66 |
58,16 |
46,53 |
49,29 |
59,25 |
|
Stock turnover |
1,45 |
1,39 |
1,41 |
1,65 |
1,26 |
|
Asset turnover |
0,86 |
0,85 |
0,89 |
1,03 |
0,87 |
|
Debtors credittime |
25,30 |
23,02 |
22,16 |
24,08 |
18,45 |
|
Credittime creditors |
14,92 |
8,89 |
12,99 |
11,66 |
7,88 |
|
Acid test ratio I |
145,00 |
128,20 |
141,13 |
165,52 |
144,70 |
|
Acid test ratio II |
23,44 |
17,85 |
24,35 |
32,03 |
19,27 |
|
Solvency ratio |
46,44 |
40,78 |
41,57 |
46,02 |
35,59 |
|
Return on equity I |
16,84 |
11,81 |
29,51 |
27,91 |
13,28 |
|
Return on equity II |
16,84 |
11,81 |
29,51 |
27,91 |
13,28 |
|
Zero turnover |
374.294 |
387.421 |
339.626 |
305.033 |
308.193 |
|
Margin of safety |
29,57 |
23,27 |
34,24 |
30,21 |
17,77 |
|
Capital ratio |
572,20 |
484,10 |
482,79 |
389,32 |
305,29 |
|
Intrinsic value |
9999,99 |
9999,99 |
9999,99 |
9999,99 |
9999,99 |
|
Appendix 1 - Consolidated financial statement |
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|
|
Official registr. |
No |
|
|
Mortgage on property |
No |
|
Property
|
Property |
|
Expanded Identification
- company profile
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Advisors |
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Historical
data |
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Branches, other VAT-no. |
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Confidential and
without responsibility |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
UK Pound |
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.