MIRA INFORM REPORT
|
Report No. : |
332577 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOWACO A/S |
|
|
|
|
Formerly Known As : |
|
|
|
|
|
Registered Office : |
Prinsensgade 15, Aalborg 9000 |
|
|
|
|
Country : |
Denmark |
|
|
|
|
Date of Incorporation : |
01.05.1963 |
|
|
|
|
Financial (as on) : |
31.12.2014 |
|
|
|
|
Com. Reg. No.: |
62497718 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
110 (2014) |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 |
Company
Summary
|
Business
Name |
Nowaco
A/S |
|
Country |
DENMARK |
|
Company
Registration Number |
62497718 |
|
Activity
Code |
463200 |
|
Activity
Description |
Wholesale
of meat and meat products |
|
Company
Status |
Active
(Active) |
|
Latest
Turnover Figure |
2.476.003.000
DKK |
|
Latest
Shareholder Equity Figure |
179.993.000
DKK |
basic
Information
|
Business
Name |
NOWACO A/S |
|
Registered
Company Name |
Nowaco A/S |
|
Company
Registration Number |
62497718 |
|
Country |
DENMARK |
|
Date
of Company Registration |
01/05/1963 |
|
Legal
Form |
Limited company |
|
Company
Status |
Active (Active) |
|
Currency
of this Report |
DKK |
|
Principal
Activity Code |
463200 |
|
Principal
Activity Description |
Wholesale of meat and meat products |
|
Contact
Address |
Prinsensgade 15, Aalborg 9000 |
|
Contact
Telephone Number |
96308080 |
Main
Address
|
Address |
Prinsensgade
15, Aalborg 9000 |
|
Country |
DENMARK |
|
Telephone |
96308080 |
Activities
|
Activity
Code |
Activity
Description |
|
463200 |
Wholesale
of meat and meat products |
|
463810 |
Wholesale
of fish and fishery products |
|
463100 |
Wholesale
of fruit and vegetables |
|
463900 |
Non-specialized
wholesale of food, beverages and t |
|
463300 |
Wholesale
of dairy products, eggs and edible oils |
Email
Addresses
Web
Pages
Previous
Names
|
Previous
Name |
|
Botanique
Hotel A/S |
|
Century
Invest A/S |
|
Nowaco
Trading A/S |
|
Topp
Group A/S |
Employee
Information
|
Year |
Number of Employees |
|
2014 |
110 |
|
2013 |
104 |
|
2012 |
110 |
Real
Estate
No
Other
Trading Names
Type Name
No other trading names for this company
Global
Trading Information
Export Worldwide
Import
Other Information
|
Type |
Text |
|
Historical data |
In 1994 the company took over the activities previously carried on by "Topp Group Denmark A/S" (reg.nr. 161.626). |
|
Historical data |
In 1994 the company took over the activities previously carried on by "Topp Group Denmark A/S" (reg.nr. 161.626). |
|
Historical data |
In 2003 the company took over the activities previously carried on by Nowaco Group A/S (cvr.nr. 13247595). |
|
Historical data |
The company has per 2001 transferred its former activities to Nowaco A/S CVR 13247595. |
|
Historical data |
"Top Group A/S" has per 01.01.1996 transferred the former activities to "Top Group Denmark A/S" (reg.nr. 161.626). |
|
Historical
data |
The
company was originally formed in 1963 under the name of "Hotel Gotha
A/S", but has changed its name several times, most recently in 1997 to
its present name. |
|
Capital
conditions |
fully
paid up |
Additional
Accounts Information
|
Date
Format |
MM-DD |
|
Accounts
Start Date |
01-01 |
|
Accounts
End Date |
12-31 |
Profit and Loss
|
Financial
Year |
2014 |
2013 |
2012 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Revenue |
2.476.003.000 |
2.175.939.000 |
1.996.753.000 |
|
Operating
Profit |
42.655.000 |
39.415.000 |
34.027.000 |
|
Retained
Profit |
36.967.000 |
34.377.000 |
28.819.000 |
Balance
Sheet
|
Financial
Year |
2014 |
2013 |
2012 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Land
& Buildings |
- |
|
|
|
Plant
& Machinery |
- |
|
|
|
TOTAL
ASSETS |
656.717.000 |
436.103.000 |
447.156.000 |
|
Other
Reserves |
179.993.000 |
158.569.000 |
139.719.000 |
Share
Capital Structure
|
Nominal
Share Capital |
20.000.000
DKK |
Shareholders
|
Shareholder |
Address |
%
Shares Held |
|
Tika
Holding A/S |
Vossvej
13 Aalborg 9000 DNK |
65 |
Current
Directors
|
Name |
Appointment
Date |
Position |
|
Preben
Kurt Nielsen |
29/11/2005 |
Managing
director |
|
Brian
Schi0nning Larsen |
31/05/2007 |
General
manager |
|
Peter
Fisker Olesen |
22/10/2012 |
General
manager |
|
Tom
Leth Jensen |
26/06/2015 |
General
manager |
|
Katja
Nowak Nielsen |
26/06/2015 |
General
manager |
|
Per
S0ndergaard Pedersen |
30/04/2003 |
Chairman |
|
Jens
M0ller |
29/11/2005 |
Deputy
Chairman |
|
Juttine
Nielsen |
29/11/2005 |
Member
of the board |
|
Peter
Guldager Terkelsen |
26/08/2011 |
Member
of the board |
|
Katja
Nowak Nielsen |
05/05/2006 |
Member
of the board |
|
Brian
Schi0nning Larsen |
16/08/2010 |
Finance |
|
Tom
Kristensen |
01/04/2014 |
IT |
|
Annette
Jacobsen |
02/06/2003 |
Export |
|
Mikkel
Hangh0j |
08/11/2007 |
Export |
|
Tom
Leth Jensen |
10/02/2010 |
Export |
Ultimate
Holding Parent
|
Ultimate
Holding Company Name |
Tika
Holding A/S |
|
Ultimate
Holding Company Country |
|
Subsidiary
Companies
|
Subsidiary
Name |
Country |
|
Nowaco
USA Inc. |
UNITED
STATES |
|
Nowaco
Hong Kong Ltd. |
HONG
KONG |
|
Nowaco
Brazil Ltda. |
BRAZIL |
|
Nowaco
Shipping ApS |
DENMARK |
|
Nowaco
Australia Pty Ltd. |
AUSTRALIA |
|
Nowaco
Colombia SAS |
COLOMBIA |
|
Nowaco
Qingdao Ltd. |
CHINA |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
UK Pound |
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
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.