|
Report No. : |
340229 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADAX A/S |
|
|
|
|
Registered Office : |
Vestre Hedevej 18, Roskilde 4000 |
|
|
|
|
Country : |
Denmark |
|
|
|
|
Financials (as on) : |
2014 |
|
|
|
|
Date of Incorporation : |
27.08.1982 |
|
|
|
|
Com. Reg. No.: |
71231518 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of luggage and leather articles |
|
|
|
|
No. of Employee : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
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 |
|
Business
Name |
ADAX A/S |
|
Country |
DENMARK |
|
Company
Registration Number |
71231518 |
|
Activity
Code |
464930 |
|
Activity
Description |
Wholesale of luggage and leather articles |
|
Company
Status |
Active (Active) |
|
Latest
Turnover Figure |
- |
|
Latest
Shareholder Equity Figure |
21.494.000 DKK |
|
Business
Name |
ADAX A/S |
|
Registered
Company Name |
ADAX A/S |
|
Company
Registration Number |
71231518 |
|
Country |
DENMARK |
|
Date
of Company Registration |
27/08/1982 |
|
Legal
Form |
Limited company |
|
Company
Status |
Active (Active) |
|
Currency
of this Report |
DKK |
|
Principal
Activity Code |
464930 |
|
Principal
Activity Description |
Wholesale of luggage and leather articles |
|
Contact
Address |
Vestre Hedevej 18, Roskilde 4000 |
|
Contact
Telephone Number |
43444410 |
Main Address
|
Address |
Vestre Hedevej 18, Roskilde 4000 |
|
Country |
DENMARK |
|
Telephone |
43444410 |
|
Activity
Code |
Activity
Description |
|
464930 |
Wholesale of luggage and leather articles |
Email
Addresses
adax@adax.dk
Web
Pages
www.adax.dk
Previous
Names
Previous Name
Adax Scandinavia Handelshuset af 1982 ApS
|
Year |
Number
of Employees |
|
|
2014 |
20 |
|
|
2013 |
20 |
|
Real
Estate No
|
Type |
|
Name |
|
|
Business name |
|
Cavalet A/S |
|
|
Export |
|
Europe |
|
|
Import |
|
|
|
|
Type |
Text |
|
|
|
No. of employees |
According to information from the business the number of
employees is 20. |
|
|
|
Historical data |
The company merged on 03-08-2006 with Cavalet A/S
(75162812) , the registered company being the continuing one. |
|
|
|
Historical data |
The Company has in connection with a conversion on the
2001-05-03 changed its name and legal form to the present ones. |
|
|
|
Capital conditions |
fully paid up |
|
|
|
Date Format |
MM-DD |
|
Accounts Start Date |
01-01 |
|
Accounts End Date |
12-31 |
|
Financial
Year |
2014 |
2013 |
2012 |
|
|
Number
of Weeks |
52 |
52 |
52 |
|
|
Currency |
DKK |
DKK |
DKK |
|
|
Operating Profit |
10.000.000 |
9.489.000 |
9.429.000 |
|
|
Retained Profit |
7.984.000 |
6.530.000 |
7.790.000 |
|
|
Financial
Year |
2014 |
2013 |
2012 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Land & Buildings |
- |
|
|
|
Plant & Machinery |
- |
|
|
|
TOTAL ASSETS |
42.785.000 |
39.232.000 |
37.701.000 |
|
Other Reserves |
21.494.000 |
16.264.000 |
20.006.000 |
|
Nominal Share Capital |
1.000.000 DKK |
|
|
Shareholder |
Address |
%
Shares Held |
|
Adax Holding ApS |
Klosterengen 15 Roskilde 4000 DNK |
100 |
|
Name |
Appointment
Date |
Position |
|
Eugen Silfen |
|
General manager |
|
Eugen Silfen |
|
Member of the board |
|
Helle Rørbæk Silfen |
20/07/2005 |
Member of the board |
|
Bente Rørbæk Heiberg |
01/06/2011 |
Member of the board |
|
Helle Rørbæk Silfen |
|
Sales |
|
Helle Rørbæk Silfen |
|
Marketing |
|
Ultimate Holding Company Name |
Adax Holding ApS |
|
|
Ultimate
Holding Company Country |
|
|
|
Subsidiary
Name |
Country |
|
|
Adax Norway A/S |
NORWAY |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.