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MIRA
INFORM REPORT
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Report No. : |
501782 |
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Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
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Name : |
PALSGAARD AS |
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Formerly Known As : |
KR 328 A/S |
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Registered Office : |
Palsgaardvej 10, 7130 Juelsminde |
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Country : |
Denmark |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
04.02.2002 |
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Com. Reg. No.: |
26447038 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Manufacture of other chemical products n.e.c. · Manufacture of ice cream |
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No. of Employees : |
200 – 499 [2017] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Denmark |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
DENMARK - ECONOMIC OVERVIEW
This thoroughly modern market economy features advanced industry with
world-leading firms in pharmaceuticals, maritime shipping, and renewable
energy, and a high-tech agricultural sector. Danes enjoy a high standard of
living, and the Danish economy is characterized by extensive government welfare
measures and an equitable distribution of income. An aging population will be a
long-term issue.
Denmark’s small open economy is highly dependent on foreign trade, and
the government strongly supports trade liberalization. Denmark is a net
exporter of food, oil, and gas and enjoys a comfortable balance of payments
surplus, but depends on imports of raw materials for the manufacturing sector.
Denmark is a member of the EU but not the eurozone. Despite previously
meeting the criteria to join the European Economic and Monetary Union, Denmark
has negotiated an opt-out with the EU and is not required to adopt the euro.
Denmark is experiencing a modest economic expansion. The economy grew by
2.0% in 2016 and an estimated 2.3% in 2017. The expansion is expected to
decline slightly in 2018. Unemployment stood at 5.8% in 2017, based on the
national measure. The labor market was tight in 2017, with corporations
experiencing some difficulty finding appropriately-skilled workers to fill
billets. The Danish Government offers extensive programs to train unemployed
persons to work in sectors that need qualified workers.
Denmark maintained a healthy budget surplus for many years up to 2008,
but the global financial crisis swung the budget balance into deficit. The 2017
deficit was 0.6%. The government projects a lower deficit in 2018, and public
debt (EMU debt) as a share of GDP is expected to decline. The Danish Government
plans to address tax reform and increased defense spending in 2018.
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Source
: CIA |
Company Summary
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Business Name |
PALSGAARD A/S |
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Safe Number |
DK03113763 |
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Country |
DENMARK |
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Company
Registration Number |
26447038 |
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Activity Code |
205900 |
|
Activity
Description |
Manufacture of other chemical products n.e.c. |
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Company Status |
Normal (Active) |
|
Latest Turnover
Figure |
936,211,000 DKK |
|
Latest
Shareholder Equity Figure |
901,996,000 DKK |
Basic Information
|
|
|
Business Name |
PALSGAARD A/S |
|
Registered
Company Name |
PALSGAARD A/S |
|
Company
Registration Number |
26447038 |
|
Country |
DENMARK |
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VAT Registration
Number |
26447038 |
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Date of Company
Registration |
04/02/2002 |
|
Legal Form |
Limited Company |
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Company Status |
Normal (Active) |
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Currency of this
Report |
DKK |
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Principal
Activity Code |
205900 |
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Principal
Activity Description |
Manufacture of other chemical products n.e.c. |
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Contact Address |
Palsgaardvej 10, 7130 Juelsminde |
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Contact
Telephone Number |
- - |
Main Address
|
|
Address Palsgaardvej 10, 7130 Juelsminde |
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Country DENMARK |
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Telephone -- |
Activities
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|
|
Activity Code |
Activity
Description |
|
205900 |
Manufacture of other chemical products n.e.c. |
|
105200 |
Manufacture of ice cream |
Email Addresses
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Previous Names
|
|
Previous Name Date
Changed from Previous Name |
|
KR 328 A/S 12/12/2002 |
Employee Information
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|
Year |
Number of
Employees |
|
2017 |
200 - 499 |
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2016 |
200 - 499 |
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2015 |
200 - 499 |
Real Estate
|
|
Value |
|
Y |
Other Trading Names
|
|
Palsgaard Industri A/S |
|
EMULSION A/S |
Advisors
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Auditor Name BDO Statsautoriseret revisionsaktieselskab |
Events
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Event Date |
Event
Description |
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2018-02-06T07:48:32 |
Rating increased |
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2016-11-11T03:53:56 |
Rating increased |
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2017-12-12T04:02:34 |
Rating decreased |
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2017-05-27T03:42:20 |
Rating decreased |
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2018-02-06T07:48:38 |
Positive limit change |
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2016-11-11T03:54:05 |
Positive limit change |
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2017-12-12T04:02:42 |
Negative limit change |
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2017-05-27T03:42:21 |
Negative limit change |
Profit and loss
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
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Consolidated
Accounts |
No |
No |
No |
|
Revenue |
936,211,000 |
903,045,000 |
872,005,000 |
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Operating Costs |
860,740,000 |
828,182,000 |
812,029,000 |
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Operating Profit |
75,471,000 |
74,863,000 |
59,976,000 |
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Wages & Salaries |
110,453,000 |
121,807,000 |
109,370,000 |
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Pension Costs |
16,797,000 |
- |
- |
|
Depreciation |
25,011,000 |
24,570,000 |
22,165,000 |
|
Financial Income |
308,000 |
- |
- |
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Financial Expenses |
1,091,000 |
4,032,000 |
2,685,000 |
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Profit before Tax |
118,364,000 |
91,729,000 |
81,832,000 |
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Tax |
-16,599,000 |
-16,797,000 |
-14,165,000 |
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Profit after Tax |
101,765,000 |
74,932,000 |
67,667,000 |
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Retained Profit |
101,765,000 |
74,932,000 |
67,667,000 |
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Balance Sheet |
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
|
Consolidated
Accounts |
No |
No |
No |
|
Land & Buildings |
47,717,000 |
48,376,000 |
49,890,000 |
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Plant & Machinery |
81,623,000 |
96,732,000 |
104,816,000 |
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Other Tangible Assets |
14,659,000 |
13,724,000 |
9,835,000 |
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Total Tangible Assets |
143,999,000 |
158,832,000 |
164,541,000 |
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Goodwill |
- |
- |
- |
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Other Intangible Assets |
3,647,000 |
- |
- |
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Total Intangible Assets |
3,647,000 |
- |
- |
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Investments |
43,713,000 |
37,156,000 |
30,963,000 |
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Miscellaneous Fixed Assets |
- |
- |
- |
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Total Other Fixed Assets |
508,424,000 |
419,503,000 |
436,184,000 |
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TOTAL FIXED ASSETS |
656,070,000 |
578,335,000 |
600,725,000 |
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Raw Materials |
48,462,000 |
55,650,000 |
44,226,000 |
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Finished Goods |
60,086,000 |
68,653,000 |
58,981,000 |
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Other Inventories |
- |
- |
- |
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Total Inventories |
108,548,000 |
124,303,000 |
103,207,000 |
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Trade Receivables |
123,858,000 |
119,397,000 |
116,721,000 |
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Group Receivables |
49,229,000 |
30,882,000 |
24,534,000 |
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Miscellaneous Receivables |
13,501,000 |
32,330,000 |
5,527,000 |
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Total Receivables |
186,588,000 |
182,609,000 |
146,782,000 |
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Cash |
79,353,000 |
38,345,000 |
34,165,000 |
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Other Current Assets |
-374,489,000 |
3,079,000 |
1,625,000 |
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TOTAL CURRENT ASSETS |
- |
348,336,000 |
285,779,000 |
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TOTAL ASSETS |
1,033,425,000 |
926,671,000 |
886,504,000 |
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Trade Payables |
58,674,000 |
51,075,000 |
49,203,000 |
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Bank Liabilities |
- |
- |
1,075,000 |
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Group Payables |
17,958,000 |
16,816,000 |
17,890,000 |
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Miscellaneous Liabilities |
40,956,000 |
38,043,000 |
44,622,000 |
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TOTAL CURRENT LIABILITIES |
117,588,000 |
105,934,000 |
112,790,000 |
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Bank Liabilities Due After 1 Year |
- |
- |
- |
|
Other Loans Or Finance Due After 1 Year |
- |
- |
- |
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Miscellaneous Liabilities Due After 1 Year |
13,841,000 |
13,899,000 |
13,789,000 |
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TOTAL LONG TERM LIABILITIES |
13,841,000 |
13,899,000 |
13,789,000 |
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TOTAL LIABILITIES |
131,429,000 |
119,833,000 |
126,579,000 |
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Called Up Share Capital |
50,000,000 |
50,000,000 |
50,000,000 |
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Revenue Reserves |
850,117,000 |
756,838,000 |
709,925,000 |
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Other Reserves |
1,879,000 |
- |
- |
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TOTAL SHAREHOLDERS EQUITY |
901,996,000 |
806,838,000 |
759,925,000 |
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Other Financials |
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Working Capital |
-117,588,000 |
242,402,000 |
172,989,000 |
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Net Worth |
898,349,000 |
806,838,000 |
759,925,000 |
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Ratios |
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Pre-Tax Profit Margin (%) |
12.64 % |
10.16 % |
9.38 % |
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Return On Capital Employed (%) |
12.92 % |
11.18 % |
10.58 % |
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Return On Total Assets Employed (%) |
11.45 % |
9.90 % |
9.23 % |
|
Return On Net Assets Employed (%) |
13.12 % |
11.37 % |
10.77 % |
|
Sales/Net Working Capital |
-7.96 |
3.73 |
5.04 |
|
Stock Turnover Ratio (%) |
11.59 % |
13.77 % |
11.84 % |
|
Debtor Days |
48.29 |
48.26 |
48.86 |
|
Creditor Days |
22.88 |
20.64 |
20.60 |
|
Current Ratio |
- |
3.29 |
2.53 |
|
Liquidity Ratio/Acid Test |
-0.92 |
2.11 |
1.62 |
|
Current Debt Ratio |
0.13 |
0.13 |
0.15 |
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Gearing (%) |
- |
- |
- |
|
Equity In Percentage (%) |
137.48 % |
87.07 % |
85.72 % |
|
Total Debt Ratio |
0.15 |
0.15 |
0.17 |
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Additional financials |
|||
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Cost Of Sales |
-577,125,000 |
-550,256,000 |
-551,104,000 |
|
Gross Profit |
227,762,000 |
221,240,000 |
191,511,000 |
|
Change In Stock |
- |
- |
- |
|
Other Operating Income |
- |
40,000 |
15,000 |
|
Audit Fees |
- |
- |
- |
|
Other Operating Expenses |
-30,000 |
- |
- |
|
Extraordinary Net Result |
- |
- |
- |
|
Investment Property |
- |
- |
- |
|
Contract Work in Progress |
- |
- |
- |
|
Revaluation Reserve |
- |
- |
- |
|
Minority Interest |
- |
- |
- |
Share Capital
Structure
|
|
Nominal Share Capital 50,000,000 DKK |
|
Issued Share Capital 50,000,000 DKK |
Shareholder
|
Shareholder |
% Shares Held |
|
PALSGAARD GODS A/S |
100 |
Current Directors
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||
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Name |
Appointment Date |
Position |
|
Palle Hansen |
01/07/2014 |
DIREKTION |
|
Ole Gunner
Mouritsen |
23/03/2010 |
Reel ejer |
|
Torben Eske
Dahl-Hansen |
27/03/2018 |
DIREKTØR |
|
Henrik Højager
Nielsen |
15/12/2015 |
DIREKTØR |
|
KR 332 ApS |
04/02/2002 |
STIFTERE |
|
BDO
STATSAUTORISERET REVISIONSAKTIESELSKAB |
25/04/2002 |
REVISION |
|
Allan Sandbeck |
01/09/2016 |
DIREKTØR |
|
Name |
Appointment Date |
Position |
|
Mette Marciniak
Mikkelsen |
01/01/2017 |
BESTYRELSESMEDLEM |
|
Mette Marciniak
Mikkelsen |
01/01/2017 |
Reel ejer |
|
Rasmus
Christiansen |
25/04/2002 |
BESTYRELSE |
|
Rasmus
Christiansen |
01/03/2002 |
Reel ejer |
|
Jakob Thøisen |
01/10/2011 |
adm. dir |
|
Birger Brix |
25/04/2002 |
formand |
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Birger Brix |
21/09/2016 |
Reel ejer |
Previous Directors
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Name |
Appointment Date |
Position |
Resignation Date |
|
Benny Jakobsen |
15/12/2010 |
DIREKTION |
29/06/2015 |
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Helle Freundlich
Andersen |
04/02/2002 |
DIREKTION |
25/04/2002 |
|
Jette Baagøe |
04/12/2007 |
BESTYRELSE |
01/01/2017 |
|
Alfred Kjær Hansen |
25/04/2002 |
BESTYRELSE |
31/12/2007 |
|
Ole Gunner
Mouritsen |
23/03/2010 |
BESTYRELSE |
21/03/2014 |
|
Leif Knudsen |
25/04/2002 |
DIREKTION |
31/12/2011 |
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STRANDVEJEN 44
DANMARK ApS |
04/02/2002 |
REVISION |
25/04/2002 |
|
Hans Henrik Bech
Christensen |
25/04/2002 |
DIREKTION |
30/12/2004 |
|
Knud Brix |
25/04/2002 |
BESTYRELSE |
23/03/2010 |
|
Erik Niels Peter
Gjelstrup |
25/04/2002 |
DIREKTION |
20/12/2002 |
|
Povl Vilhelm
Wohlert |
25/04/2002 |
BESTYRELSE |
18/06/2002 |
|
Anders Bjerre
Lavesen |
04/02/2002 |
BESTYRELSE |
25/04/2002 |
|
Henrik Thal
Jantzen |
04/02/2002 |
BESTYRELSE |
25/04/2002 |
|
Michael Herman
Ladegaard |
01/05/2005 |
DIREKTION |
01/07/2014 |
|
Michael Egede
Budtz |
04/02/2002 |
BESTYRELSE |
25/04/2002 |
|
Niels Ole Viggo
Andersen |
25/04/2002 |
BESTYRELSE |
18/06/2002 |
Immediate Holding
Parent
|
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Immediate Holding Company Name VAT/Registration
Number |
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PALSGAARD GODS A/S 45495418 |
Subsidiary Companies
|
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Subsidiary Name Number |
|
Einar A/S 36729465 |
Affiliates
|
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Affiliate Name Country Number |
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SCANFLAVOUR HOLDING ApS 27479790 |
Negative Information
|
|
No negative
information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.45 |
|
Euro |
1 |
INR 80.09 |
|
DKK |
1 |
INR 10.74 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.