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MIRA INFORM REPORT
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Report No. : |
502501 |
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Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
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Name : |
FLSMIDTH AS |
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Formerly Known As : |
F.L.SMIDTH AS |
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Registered Office : |
Vigerslev Allé 77, 2500 Valby |
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Country : |
Denmark |
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Financials (as on) : |
December 2016 |
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Date of Incorporation : |
06.03.1991 |
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Com. Reg. No.: |
15028882 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Mounting and delivery of ready-made production plants · Conference centres and course facilities · Installation of industrial machinery and equipment |
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No. of Employees : |
500 – 999 [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) |
|
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.
|
Source
: CIA |
Company Summary
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|
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Business Name |
FLSMIDTH A/S |
|
Safe Number |
DK02987706 |
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Country |
DENMARK |
|
Company
Registration Number |
15028882 |
|
Activity Code |
711230 |
|
Activity
Description |
Mounting and delivery of ready-made production plants |
|
Company Status |
Normal (Active) |
|
Latest Turnover
Figure |
3,935,000,000 DKK |
|
Latest
Shareholder Equity Figure |
4,366,000,000 DKK |
Basic Information
|
|
|
Business Name |
FLSMIDTH A/S |
|
Registered
Company Name |
FLSMIDTH A/S |
|
Company
Registration Number |
15028882 |
|
Country |
DENMARK |
|
VAT Registration
Number |
15028882 |
|
Date of Company
Registration |
06/03/1991 |
|
Legal Form |
Limited Company |
|
Company Status |
Normal (Active) |
|
Currency of this
Report |
DKK |
|
Principal
Activity Code |
711230 |
|
Principal Activity
Description |
Mounting and delivery of ready-made production plants |
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Contact Address |
Vigerslev Allé 77, 2500 Valby |
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Contact
Telephone Number |
- - |
Main Address
|
|
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Address Vigerslev Allé 77, 2500 Valby |
|
|
Country DENMARK |
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|
Telephone - |
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Activities
|
|
|
Activity Code |
Activity
Description |
|
711230 |
Mounting and delivery of ready-made production plants |
|
551020 |
Conference centres and course facilities |
|
332000 |
Installation of industrial machinery and equipment |
Email Addresses
|
|
No email addresses for this company |
Previous Names
|
|
Previous Name Date Changed
from Previous Name |
|
F.L.SMIDTH A/S 27/01/2005 |
Employee Information
|
|
|
Year |
Number of
Employees |
|
2017 |
500 - 999 |
|
2016 |
1000 - 999999 |
|
2015 |
1000 - 999999 |
Real Estate
|
|
Value |
|
Y |
Other Trading Names
|
|
|
FLSMIDTH MINERALS A/S |
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|
FFE MINERALS DENMARK A/S |
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|
FFE MINERALS A/S |
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FLSMIDTH (THAILAND) LTD. A/S |
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INTERNATIONAL ENGINEERING A/S |
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INTERNATIONAL HOLDING COMPANY A/S |
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FLSMIDTH AIRLOQ A/S |
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FLS AIRLOQ A/S |
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S.A. TEKNIK MARIAGER A/S |
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FLSMIDTH ENERGY A/S |
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FLS ENERGY A/S |
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FLSAIRTECH A/S |
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F.L.SMIDTH AIRTECH A/S |
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FLSMIDTH AIRTECH A/S |
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FLSMIDTH TECHNOLOGY A/S |
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VENTOMATIC A/S |
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MYFLS A/S |
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FLS GROUP A/S |
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FLSMIDTH GROUP A/S |
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F.L.SMIDTH A/S |
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FLS AUTOMATION A/S |
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VALBY MASKINFABRIK A/S |
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FULLER A/S |
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F.L.SMIDTH-FULLER ENGINEERING A/S |
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F.L.SMIDTH MINERALS A/S |
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Advisors
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|
Auditor Name Deloitte Statsautoriseret Revisionspartnerselskab |
Events
|
|
|
Event Date |
Event
Description |
|
2018-02-11T11:00:06 |
Rating increased |
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2017-04-25T03:45:04 |
Rating increased |
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2016-05-19T03:07:36 |
Rating increased |
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2017-12-12T04:02:34 |
Rating decreased |
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2018-02-11T11:00:16 |
Positive limit change |
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2017-06-29T03:53:36 |
Positive limit change |
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2016-05-19T03:07:36 |
Positive limit change |
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2017-12-12T04:02:42 |
Negative limit change |
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2017-05-31T03:53:05 |
Negative limit change |
Profit and Loss
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|||
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Consolidated
Accounts |
No |
No |
No |
|
Revenue |
3,935,000,000 |
4,590,000,000 |
4,833,000,000 |
|
Operating Costs |
3,912,000,000 |
4,605,000,000 |
4,616,000,000 |
|
Operating Profit |
23,000,000 |
-15,000,000 |
217,000,000 |
|
Wages &
Salaries |
- |
- |
- |
|
Financial Income |
169,000,000 |
165,000,000 |
132,000,000 |
|
Financial
Expenses |
134,000,000 |
285,000,000 |
164,000,000 |
|
Profit before
Tax |
185,000,000 |
2,000,000 |
347,000,000 |
|
Tax |
-40,000,000 |
-7,000,000 |
40,000,000 |
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Profit after Tax |
225,000,000 |
9,000,000 |
307,000,000 |
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Dividends |
125,000,000 |
- |
500,000,000 |
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Retained Profit |
100,000,000 |
9,000,000 |
-193,000,000 |
Balance Sheet
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|||
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Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Consolidated
Accounts |
No |
No |
No |
|
Land &
Buildings |
35,000,000 |
39,000,000 |
33,000,000 |
|
Other Tangible
Assets |
40,000,000 |
53,000,000 |
77,000,000 |
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Total Tangible
Assets |
75,000,000 |
92,000,000 |
110,000,000 |
|
Other Intangible
Assets |
2,085,000,000 |
2,397,000,000 |
2,856,000,000 |
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Total Intangible
Assets |
2,085,000,000 |
2,397,000,000 |
2,856,000,000 |
|
Investments |
8,000,000 |
11,000,000 |
2,115,000,000 |
|
Miscellaneous
Fixed Assets |
- |
- |
- |
|
Total Other
Fixed Assets |
4,179,000,000 |
4,060,000,000 |
2,115,000,000 |
|
TOTAL FIXED
ASSETS |
6,339,000,000 |
6,549,000,000 |
5,081,000,000 |
|
Finished Goods |
27,000,000 |
36,000,000 |
42,000,000 |
|
Other
Inventories |
- |
- |
- |
|
Total
Inventories |
27,000,000 |
36,000,000 |
42,000,000 |
|
Trade
Receivables |
650,000,000 |
278,000,000 |
346,000,000 |
|
Group
Receivables |
1,637,000,000 |
2,001,000,000 |
1,841,000,000 |
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Miscellaneous Receivables |
312,000,000 |
376,000,000 |
834,000,000 |
|
Total
Receivables |
2,599,000,000 |
2,655,000,000 |
3,021,000,000 |
|
Cash |
40,000,000 |
58,000,000 |
16,000,000 |
|
Other Current
Assets |
11,000,000 |
20,000,000 |
38,000,000 |
|
TOTAL CURRENT
ASSETS |
2,677,000,000 |
2,769,000,000 |
3,117,000,000 |
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TOTAL ASSETS |
9,016,000,000 |
9,318,000,000 |
8,198,000,000 |
|
Trade Payables |
865,000,000 |
467,000,000 |
565,000,000 |
|
Group Payables |
1,945,000,000 |
2,625,000,000 |
314,000,000 |
|
Miscellaneous Liabilities |
1,334,000,000 |
1,545,000,000 |
2,097,000,000 |
|
TOTAL CURRENT
LIABILITIES |
4,144,000,000 |
4,637,000,000 |
2,976,000,000 |
|
Miscellaneous Liabilities Due After 1 Year |
506,000,000 |
538,000,000 |
611,000,000 |
|
TOTAL LONG TERM
LIABILITIES |
506,000,000 |
538,000,000 |
611,000,000 |
|
TOTAL
LIABILITIES |
4,650,000,000 |
5,175,000,000 |
3,587,000,000 |
|
Called Up Share
Capital |
500,000,000 |
500,000,000 |
500,000,000 |
|
Revenue Reserves |
3,701,000,000 |
3,643,000,000 |
3,611,000,000 |
|
Other Reserves |
165,000,000 |
- |
500,000,000 |
|
TOTAL
SHAREHOLDERS EQUITY |
4,366,000,000 |
4,143,000,000 |
4,611,000,000 |
Other Financials
|
|||
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Working Capital |
-1,467,000,000 |
-1,868,000,000 |
141,000,000 |
|
Net Worth |
2,281,000,000 |
1,746,000,000 |
1,755,000,000 |
Ratios
|
|||
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit
Margin (%) |
5.44 % |
0.06 % |
9.18 % |
|
Return On
Capital Employed (%) |
3.80 % |
0.04 % |
6.64 % |
|
Return On Total
Assets Employed (%) |
2.05 % |
0.02 % |
4.23 % |
|
Return On Net
Assets Employed (%) |
4.24 % |
0.05 % |
7.53 % |
|
Sales/Net
Working Capital |
-2.32 |
-1.86 |
26.81 |
|
Stock Turnover
Ratio (%) |
0.79 % |
1.03 % |
1.11 % |
|
Debtor Days |
69.76 |
29.16 |
33.41 |
|
Creditor Days |
92.83 |
48.98 |
54.56 |
|
Current Ratio |
0.65 |
0.60 |
1.05 |
|
Liquidity
Ratio/Acid Test |
0.64 |
0.59 |
1.03 |
|
Current Debt
Ratio |
0.95 |
1.12 |
0.65 |
|
Gearing (%) |
- |
- |
- |
|
Equity In
Percentage (%) |
48.43 % |
44.46 % |
56.25 % |
|
Total Debt Ratio |
1.07 |
1.25 |
0.78 |
Additional financials
|
|||
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Cost Of Sales |
3,157,000,000 |
3,493,000,000 |
3,235,000,000 |
|
Gross Profit |
244,000,000 |
-13,000,000 |
545,000,000 |
|
Change In Stock |
- |
- |
- |
|
Other Operating
Income |
534,000,000 |
1,110,000,000 |
1,053,000,000 |
|
Audit Fees |
- |
- |
- |
|
Other Operating
Expenses |
1,000,000 |
1,000,000 |
18,000,000 |
|
Extraordinary
Net Result |
- |
- |
- |
|
Investment
Property |
- |
- |
- |
|
Contract Work In
Progress |
271,000,000 |
266,000,000 |
751,000,000 |
|
Revaluation
Reserve |
- |
- |
- |
|
Minority
Interests |
- |
- |
- |
Share Capital Structure
|
|
Nominal Share Capital 500,000,000 DKK |
|
Issued Share Capital 500,000,000 DKK |
Shareholders
|
|
Shareholder % Shares Held |
|
FLSMIDTH & CO. A/S 100 |
Current Directors
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||
|
Name |
Appointment Date |
Position |
|
Thomas Schulz |
01/05/2013 |
adm. dir |
|
Søren Dickow Quistgaard |
05/04/2013 |
BESTYRELSE |
|
Jens Peter Koch |
22/03/2017 |
SUPPLEANT |
|
Claus Østergaard |
22/03/2017 |
BESTYRELSESMEDLEM |
|
FLSMIDTH & CO. A/S |
06/03/1991 |
STIFTERE |
|
Caroline Grégoire Sainte Marie |
30/03/2012 |
BESTYRELSE |
|
Marius Jacques Kloppers |
05/04/2016 |
BESTYRELSESMEDLEM |
|
Richard Robinson Smith |
05/04/2016 |
BESTYRELSESMEDLEM |
|
Vagn Ove Sørensen |
29/04/2011 |
formand |
|
ERNST & YOUNG Godkendt Revisionspartnerselskab |
30/03/2017 |
REVISION |
|
Steen Henning Holck |
28/10/2016 |
SUPPLEANT |
|
Mette Dobel |
17/04/2009 |
BESTYRELSE |
|
Anne Louise Eberhard |
30/03/2017 |
BESTYRELSESMEDLEM |
|
Tom Knutzen |
30/03/2012 |
NÆSTFORMAND |
|
Lars Vestergaard |
01/04/2014 |
økonomidirektør |
|
Birger Riisager |
06/03/1991 |
STIFTERE |
|
Ole Falvig Ramsby |
06/03/1991 |
STIFTERE |
Previous Directors
|
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Jan Wraae Folting |
25/06/2001 |
BESTYRELSE |
29/01/2004 |
|
Jens Peter Koch |
05/04/2013 |
BESTYRELSE |
21/03/2017 |
|
Claus Østergaard |
05/04/2013 |
SUPPLEANT |
21/03/2017 |
|
Mette Bormann Bannergaard |
05/04/2013 |
SUPPLEANT |
28/10/2016 |
|
Ulrich Schultz |
22/03/2017 |
SUPPLEANT |
18/12/2017 |
|
Hans Per Martin Ivert |
17/04/2008 |
BESTYRELSE |
05/04/2016 |
|
Peter Flanagan |
01/07/2013 |
DIREKTION |
01/09/2014 |
|
Sten Erik Jakobsson |
29/04/2011 |
BESTYRELSE |
30/03/2017 |
|
Philip Kjær |
25/06/2001 |
BESTYRELSE |
29/01/2004 |
|
Jørgen Finn Alveen |
16/06/1997 |
PERSONLIG_SUPPLEANT |
09/10/2001 |
|
Jens Severin Stephensen |
01/02/2007 |
næstformand |
30/03/2012 |
|
Jens Severin Stephensen |
19/03/2004 |
BESTYRELSE |
26/02/2007 |
|
Jens Severin Stephensen |
29/01/2004 |
BESTYRELSE |
23/02/2004 |
|
Jens Severin Stephensen |
25/06/2001 |
næstformand |
16/05/2002 |
|
Ole Skjold Christensen |
17/04/2009 |
PERSONLIG_SUPPLEANT |
05/04/2013 |
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Johannes Poulsen |
01/02/2007 |
BESTYRELSE |
17/04/2008 |
|
Søren Vinther |
15/04/2005 |
BESTYRELSE |
17/04/2009 |
|
Johan Schrøder |
29/01/2004 |
BESTYRELSE |
15/04/2005 |
|
Per Mejnert Kristensen |
01/07/2013 |
DIREKTION |
01/03/2016 |
|
Jens Palle Andersen |
06/03/1991 |
BESTYRELSE |
05/04/2013 |
|
Ingelise Jensen |
06/03/1991 |
PERSONLIG_SUPPLEANT |
27/05/1997 |
|
Jørgen Huno Rasmussen |
29/01/2004 |
adm. dir |
01/05/2013 |
|
Poul Erik Tofte |
27/02/2003 |
BESTYRELSE |
29/01/2004 |
|
Poul Erik Tofte |
01/10/2005 |
DIREKTION |
01/04/2012 |
|
Erik August Neubert |
06/03/1991 |
PERSONLIG_SUPPLEANT |
22/06/1993 |
Immediate Holding Parent
|
|
Immediate Holding Company Name VAT/Registration Number |
|
FLSMIDTH & CO. A/S 58180912 |
Subsidiary Companies
|
|
|
Subsidiary Name |
Number |
|
FLSMIDTH RUSLAND HOLDING A/S |
31051541 |
|
FLSMIDTH MINERALS HOLDING ApS |
27920934 |
|
FLSMIDTH TYSKLAND A/S |
73336813 |
|
FLSmidth Global Field Services ApS |
25730666 |
Affiliates
|
|
No affiliates for this company |
Negative Information
|
|
No negative information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.98 |
|
|
1 |
INR 90.95 |
|
Euro |
1 |
INR 79.51 |
|
DKK |
1 |
INR 10.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.