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MIRA
INFORM REPORT
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Report No. : |
501679 |
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Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
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Name : |
TRADE POINT A/S, DIRECT CONTAINER |
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|
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Formerly Known As : |
TRADE POINT HANDELSAGENTUR APS |
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Registered Office : |
Hestehaven 67, 5260 Odense S |
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Country : |
Denmark |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
22.08.1997 |
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Com. Reg. No.: |
20278196 |
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Legal Form : |
Limited company |
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Line of Business : |
Wholesale of furniture, carpets and lighting equipment |
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No. of Employees : |
50 - 99 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate 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 |
TRADE POINT A/S, DIRECT CONTAINER |
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Country |
DENMARK |
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Company Registration Number |
20278196 |
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Activity Code |
464700 |
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Activity Description |
Wholesale of furniture, carpets and lighting equipment |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
844,937,000 DKK |
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Latest Shareholder Equity Figure |
48,655,000 DKK |
Basic Information
|
Business Name |
TRADE POINT A/S, DIRECT CONTAINER |
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Registered Company Name |
TRADE POINT A/S, DIRECT CONTAINER |
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Company Registration Number |
20278196 |
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Country |
DENMARK |
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VAT Registration Number |
20278196 |
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Date of Company Registration |
22/08/1997 |
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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 |
464700 |
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Principal Activity Description |
Wholesale of furniture, carpets and lighting equipment |
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Contact Address |
Hestehaven 67, 5260 Odense S |
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Contact Telephone Number |
- |
Main Address
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Address |
Hestehaven 67, 5260 Odense S |
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Country |
DENMARK |
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Telephone |
- |
Activities
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Activity Code |
Activity Description |
|
464700 |
Wholesale of furniture, carpets and lighting equipment |
Email Addresses
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No email addresses for this company |
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Previous Names
|
Previous Name |
Date Changed from Previous Name |
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TRADE POINT HANDELSAGENTUR ApS |
03/04/2006 |
Employee Information
|
Year |
Number of Employees |
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2015 |
50 - 99 |
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2014 |
50 - 99 |
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2013 |
50 - 99 |
Real Estate
Value
N/A
Other Trading Names
No information for this company.
Advisors
|
Auditor Name |
Ernst & Young Godkendt Revisionspartnerselskab |
Financials
|
Profit and Loss |
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|
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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 |
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Consolidated Accounts |
No |
No |
No |
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Revenue |
844,937,000 |
861,728,372 |
- |
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Operating Costs |
811,182,000 |
- |
- |
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Operating Profit |
33,755,000 |
- |
46,131,088 |
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Wages & Salaries |
38,759,000 |
35,689,564 |
32,675,626 |
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Pension Costs |
4,653,000 |
4,310,975 |
3,648,649 |
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Depreciation |
746,000 |
345,440 |
316,905 |
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Financial Income |
2,708,000 |
9,580,337 |
11,077,612 |
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Financial Expenses |
2,208,000 |
3,859,119 |
1,862,557 |
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Profit before Tax |
34,320,000 |
39,435,172 |
55,435,791 |
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Tax |
7,609,000 |
9,455,767 |
13,591,898 |
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Profit after Tax |
26,711,000 |
29,979,405 |
41,843,893 |
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Dividends |
26,000,000 |
29,500,000 |
41,500,000 |
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Retained Profit |
711,000 |
479,405 |
343,893 |
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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 |
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Consolidated Accounts |
No |
No |
No |
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Other Tangible Assets |
1,001,000 |
1,747,637 |
794,605 |
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Total Tangible Assets |
1,001,000 |
1,747,637 |
794,605 |
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Miscellaneous Fixed Assets |
- |
- |
- |
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Total Other Fixed Assets |
1,289,000 |
969,810 |
683,870 |
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TOTAL FIXED ASSETS |
2,290,000 |
2,717,447 |
1,478,475 |
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Finished Goods |
18,574,000 |
29,753,870 |
8,036,741 |
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Other Inventories |
10,839,000 |
- |
29,862,062 |
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Total Inventories |
29,413,000 |
29,753,870 |
37,898,803 |
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Trade Receivables |
97,832,000 |
78,862,081 |
112,810,571 |
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Group Receivables |
187,000 |
- |
44,624 |
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Miscellaneous Receivables |
4,584,000 |
13,574,064 |
9,001,280 |
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Total Receivables |
102,603,000 |
92,436,145 |
121,856,475 |
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Cash |
36,197,000 |
40,118,086 |
34,292,304 |
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Other Current Assets |
1,532,000 |
2,718,276 |
2,668,870 |
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TOTAL CURRENT ASSETS |
169,745,000 |
165,026,377 |
196,716,452 |
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TOTAL ASSETS |
172,035,000 |
167,743,824 |
198,194,927 |
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Trade Payables |
69,025,000 |
45,418,399 |
67,551,756 |
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Group Payables |
33,911,000 |
47,892,654 |
53,425,559 |
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Miscellaneous Liabilities |
18,644,000 |
21,760,913 |
14,015,490 |
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TOTAL CURRENT LIABILITIES |
121,580,000 |
115,071,966 |
134,992,805 |
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Miscellaneous Liabilities Due After 1 Year |
1,800,000 |
- |
- |
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TOTAL LONG TERM LIABILITIES |
1,800,000 |
- |
- |
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TOTAL LIABILITIES |
123,380,000 |
115,071,966 |
134,992,805 |
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Called Up Share Capital |
500,000 |
500,000 |
500,000 |
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Revenue Reserves |
21,956,000 |
22,526,291 |
21,202,122 |
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Other Reserves |
26,199,000 |
29,645,567 |
41,500,000 |
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TOTAL SHAREHOLDERS EQUITY |
48,655,000 |
52,671,858 |
63,202,122 |
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Other Financials |
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Working Capital |
48,165,000 |
49,954,411 |
61,723,647 |
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Net Worth |
48,655,000 |
52,671,858 |
63,202,122 |
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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 (%) |
4.06 % |
4.58 % |
- |
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Return On Capital Employed (%) |
68.02 % |
74.87 % |
87.71 % |
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Return On Total Assets Employed (%) |
19.95 % |
23.51 % |
27.97 % |
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Return On Net Assets Employed (%) |
70.54 % |
74.87 % |
87.71 % |
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Sales/Net Working Capital |
17.54 |
17.25 |
- |
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Stock Turnover Ratio (%) |
3.48 % |
3.45 % |
- |
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Debtor Days |
42.26 |
33.40 |
- |
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Creditor Days |
29.82 |
19.24 |
- |
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Current Ratio |
1.40 |
1.43 |
1.46 |
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Liquidity Ratio/Acid Test |
1.15 |
1.18 |
1.18 |
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Current Debt Ratio |
2.50 |
2.18 |
2.14 |
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Gearing (%) |
- |
- |
- |
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Equity In Percentage (%) |
28.28 % |
31.40 % |
31.89 % |
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Total Debt Ratio |
2.54 |
2.18 |
2.14 |
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Additional financials |
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Cost Of Sales |
- |
- |
- |
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Gross Profit |
77,913,000 |
- |
82,772,268 |
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Change In Stock |
- |
- |
- |
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Other Operating Income |
- |
- |
- |
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Audit Fees |
- |
- |
- |
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Other Operating Expenses |
- |
- |
- |
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Extraordinary Net Result |
- |
- |
- |
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Investment Property |
- |
- |
- |
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Contract Work In Progress |
- |
- |
- |
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Revaluation Reserve |
199,000 |
145,567 |
- |
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Minority Interests |
- |
- |
- |
Share Capital Structure
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Nominal Share Capital |
500,000 DKK |
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Issued Share Capital |
500,000 DKK |
Shareholders
|
Shareholder |
% Shares Held |
|
|
T.P. HOLDING ODENSE ApS |
|
100 |
Current Directors
|
Name |
Appointment Date |
Position |
|
ERNST & YOUNG Godkendt Revisionspartnerselskab |
01/12/2008 |
REVISION |
|
Lone Müller Nielsen |
30/03/2016 |
FORMAND |
|
Steen Foged Pedersen |
01/08/2016 |
BESTYRELSESMEDLEM |
|
Keld Rosenbæk Demant |
30/03/2016 |
BESTYRELSESMEDLEM |
|
René Liocouras Nielsen |
22/08/1997 |
DIREKTION |
|
René Liocouras Nielsen |
04/04/2006 |
BESTYRELSE |
|
René Liocouras Nielsen |
22/08/1997 |
STIFTERE |
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Jette Kolmos |
22/08/1997 |
STIFTERE |
Previous Directors
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Name |
Appointment Date |
Position |
Resignation Date |
|
ERNST & YOUNG Godkendt Revisionspartnerselskab |
23/03/2006 |
REVISION |
01/12/2008 |
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fOGH & MØLGAARD A/S REG. REVISORER |
22/08/1997 |
REVISION |
23/03/2006 |
|
Lone Müller Nielsen |
04/04/2006 |
BESTYRELSE |
29/03/2016 |
|
Michael Liocouras Nielsen |
04/04/2006 |
BESTYRELSE |
04/05/2010 |
|
Henrik Jørgensen |
04/05/2010 |
BESTYRELSE |
12/09/2016 |
Immediate Holding Parent
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Immediate Holding Company Name |
VAT/Registration Number |
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Immediate Holding Company Name |
VAT/Registration Number |
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T.P. HOLDING ODENSE ApS |
26934060 |
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Subsidiary Companies |
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Subsidiary Name |
Number |
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Trade Point Int. ApS |
37970425 |
Affiliates
No affiliates for this company
Negative Information
No negative information for this company
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.99 |
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|
1 |
INR 90.96 |
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Euro |
1 |
INR 79.51 |
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DKK |
1 |
INR 10.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.