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MIRA INFORM REPORT
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Report No. : |
491539 |
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Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MESSAGE A/S |
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|
|
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Registered Office : |
A F Heidemanns Vej 19, 9800 Hjørring |
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|
|
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Country : |
Denmark |
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|
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Financials (as on) : |
December, 2016 |
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Date of Incorporation : |
01.07.2002 |
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|
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Com. Reg. No.: |
10089859 |
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|
|
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Legal Form : |
Limited company |
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|
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Line of Business : |
·
Subject is engaged in Wholesale of clothing ·
Retail sale of clothing |
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|
|
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No. of Employees : |
200 - 499 |
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 |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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|
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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 (30.06.2017) |
Current Rating (30.09.2017) |
|
Denmark |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
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 a high-tech agricultural sector, advanced industry with world-leading firms in pharmaceuticals, maritime shipping, and in renewable energy, and a high dependence on foreign trade. 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. 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 is a member of the EU; Danish legislation and regulations conform to EU standards on almost all issues. 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. Within the EU, Denmark is among the strongest supporters of trade liberalization.
Denmark is experiencing a modest economic expansion. The economy grew by 1.7% in 2016 and an estimated 1.9% in 2017. The expansion is expected to continue at similar rates in 2018. The labor market has strengthened since 2013, and unemployment stood at 5.8% in 2017, based on the national measure. Productivity growth was significantly below the OECD average from the mid-1990s until 2011, but has increased in recent years. Improvement in productivity is needed to ensure continued growth.
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. In 2015, household indebtedness remained relatively high at more than 292% of net disposable income, while household net worth - from private pension schemes and other assets - amounted to 497% of net disposable income.
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Source
: CIA |
Company name and Summary
|
Business Name |
MESSAGE A/S |
|
Country |
DENMARK |
|
Company Registration Number |
10089859 |
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Activity Code |
464210 |
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Activity Description |
Wholesale of clothing |
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Company Status |
Normal (Active) |
|
Latest Turnover Figure |
- |
|
Latest Shareholder Equity Figure |
37,862,000 DKK |
Basic Information
|
Business Name |
MESSAGE A/S |
|
Registered Company Name |
MESSAGE A/S |
|
Company Registration Number |
10089859 |
|
Country |
DENMARK |
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VAT Registration Number |
10089859 |
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Date of Company Registration |
01/07/2002 |
|
Legal Form |
|
|
Company Status |
Normal (Active) |
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Currency of this Report |
DKK |
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Principal Activity Code |
464210 |
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Principal Activity Description |
Wholesale of clothing |
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Contact Address |
A F Heidemanns Vej 19, 9800 Hjørring |
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Contact Telephone Number |
- |
Main Address
|
Address A F Heidemanns Vej 19, 9800 Hjørring |
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Country DENMARK |
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Telephone - |
Activities
|
Activity Code |
Activity Description |
|
464210 |
Wholesale of clothing |
|
477110 |
Retail sale of clothing |
Email Addresses
|
No email addresses for this company |
Previous Names
|
Previous Name Date Changed from Previous Name |
|
SLP 11.735 A/S 05/11/2002 |
Employee Information
|
Year |
Number of Employees |
|
2017 |
200 - 499 |
|
2016 |
200 - 499 |
|
2015 |
100 - 199 |
Real Estate
|
Value |
|
Y |
Other Trading Names
|
No information for this company. |
Advisors
|
Auditor Name BDO Statsautoriseret revisionsaktieselskab |
Events
|
Event Date Event
Description |
|
2017-03-24T04:12:51 Rating decreased |
Financials
Profit and Loss
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
|
Consolidated Accounts |
No |
No |
No |
|
Operating Profit |
7,396,000 |
7,929,000 |
10,341,000 |
|
Wages & Salaries |
41,742,000 |
44,036,000 |
38,328,000 |
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Pension Costs |
4,589,000 |
- |
- |
|
Depreciation |
6,385,000 |
5,898,000 |
5,745,000 |
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Financial Income |
297,000 |
- |
- |
|
Financial Expenses |
1,254,000 |
1,730,000 |
1,675,000 |
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Profit before Tax |
7,124,000 |
6,515,000 |
9,273,000 |
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Tax |
-1,404,000 |
-1,527,000 |
-2,276,000 |
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Profit after Tax |
5,720,000 |
4,988,000 |
6,997,000 |
|
Dividends |
4,400,000 |
1,000,000 |
920,000 |
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Retained Profit |
1,320,000 |
3,988,000 |
6,077,000 |
Balance Sheet
|
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 |
6,734,000 |
6,192,000 |
6,383,000 |
|
Other Tangible
Assets |
12,834,000 |
13,729,000 |
12,856,000 |
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Total Tangible
Assets |
19,568,000 |
19,921,000 |
19,239,000 |
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Goodwill |
7,078,000 |
6,610,000 |
8,219,000 |
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Other Intangible
Assets |
- |
- |
1,000 |
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Total Intangible
Assets |
7,078,000 |
6,610,000 |
8,220,000 |
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Miscellaneous
Fixed Assets |
- |
- |
- |
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Total Other Fixed
Assets |
6,275,000 |
5,719,000 |
5,958,000 |
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TOTAL FIXED ASSETS |
32,921,000 |
32,250,000 |
33,417,000 |
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Finished Goods |
26,151,000 |
18,945,000 |
19,055,000 |
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Other Inventories |
- |
- |
- |
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Total Inventories |
26,151,000 |
18,945,000 |
19,055,000 |
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Trade Receivables |
12,660,000 |
7,963,000 |
9,354,000 |
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Group Receivables |
2,365,000 |
2,144,000 |
892,000 |
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Miscellaneous
Receivables |
3,453,000 |
2,638,000 |
3,656,000 |
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Total Receivables |
18,478,000 |
12,745,000 |
13,902,000 |
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Cash |
323,000 |
336,000 |
273,000 |
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Other Current
Assets |
-44,952,000 |
1,686,000 |
2,265,000 |
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TOTAL CURRENT
ASSETS |
- |
33,712,000 |
35,495,000 |
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TOTAL ASSETS |
79,854,000 |
65,962,000 |
68,912,000 |
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Trade Payables |
12,461,000 |
8,999,000 |
8,989,000 |
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Bank Liabilities |
10,076,000 |
7,746,000 |
9,545,000 |
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Group Payables |
842,000 |
151,000 |
- |
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Miscellaneous
Liabilities |
13,752,000 |
12,872,000 |
16,431,000 |
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TOTAL CURRENT
LIABILITIES |
37,131,000 |
29,768,000 |
34,965,000 |
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Bank Liabilities
Due After 1 Year |
- |
- |
195,000 |
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Other Loans Or Finance Due
After 1 Year |
2,864,000 |
3,006,000 |
2,961,000 |
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Miscellaneous Liabilities Due After 1 Year |
1,997,000 |
1,748,000 |
1,810,000 |
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TOTAL LONG TERM
LIABILITIES |
4,861,000 |
4,754,000 |
4,966,000 |
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TOTAL LIABILITIES |
41,992,000 |
34,522,000 |
39,931,000 |
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Called Up Share
Capital |
5,000,000 |
5,000,000 |
2,000,000 |
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Revenue Reserves |
28,462,000 |
25,440,000 |
23,722,000 |
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Other Reserves |
4,400,000 |
1,000,000 |
3,259,000 |
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TOTAL SHAREHOLDERS
EQUITY |
37,862,000 |
31,440,000 |
28,981,000 |
Other Financials
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Working Capital |
-37,131,000 |
3,944,000 |
530,000 |
|
Net Worth |
30,784,000 |
24,830,000 |
20,761,000 |
Ratios
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
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Pre-Tax Profit
Margin (%) |
- |
- |
- |
|
Return On Capital
Employed (%) |
16.67 % |
18.00 % |
27.32 % |
|
Return On Total Assets
Employed (%) |
8.92 % |
9.88 % |
13.46 % |
|
Return On Net
Assets Employed (%) |
18.82 % |
20.72 % |
32.00 % |
|
Sales/Net Working
Capital |
- |
- |
- |
|
Stock Turnover
Ratio (%) |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
|
Creditor Days |
- |
- |
- |
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Current Ratio |
- |
1.13 |
1.02 |
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Liquidity
Ratio/Acid Test |
-0.70 |
0.50 |
0.47 |
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Current Debt Ratio |
0.98 |
0.95 |
1.21 |
|
Gearing (%) |
- |
- |
- |
|
Equity In
Percentage (%) |
115.01 % |
47.66 % |
42.06 % |
|
Total Debt Ratio |
1.11 |
1.10 |
1.38 |
Additional financials
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Cost Of Sales |
- |
- |
- |
|
Gross Profit |
60,233,000 |
57,863,000 |
54,414,000 |
|
Change In Stock |
- |
- |
- |
|
Other Operating
Income |
- |
- |
- |
|
Audit Fees |
- |
- |
- |
|
Other Operating
Expenses |
- |
- |
- |
|
Extraordinary Net
Result |
- |
- |
- |
|
Investment
Property |
- |
- |
- |
|
Contract Work In
Progress |
- |
- |
- |
|
Revaluation
Reserve |
- |
- |
- |
|
Minority Interests |
- |
- |
- |
Share Capital Structure
|
Nominal Share Capital 5,121,950 DKK |
|
Issued Share Capital 5,000,000 DKK |
Shareholders
|
Shareholder % Shares Held |
|
MH55
ApS 90 |
Current Directors
|
Name |
Appointment Date |
Position |
|
Søren Bach |
17/03/2015 |
FORMAND |
|
Carsten Wøhlk
Lauritsen |
10/02/2003 |
BESTYRELSE |
|
Carsten Wøhlk
Lauritsen |
10/02/2003 |
DIREKTION |
|
Poul Thyregod |
28/06/2017 |
BESTYRELSESMEDLEM |
|
Jesper Ibæk Roe |
10/03/2017 |
BESTYRELSESMEDLEM |
|
BDO
STATSAUTORISERET REVISIONSAKTIESELSKAB |
06/11/2002 |
REVISION |
Previous Directors
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Mette Christian
Jacobsen |
30/05/2005 |
BESTYRELSE |
01/11/2005 |
|
Janet Alsø |
01/11/2005 |
BESTYRELSE |
31/05/2011 |
|
Bent Alsø |
17/03/2015 |
BESTYRELSESMEDLEM |
10/03/2017 |
|
Bent Alsø |
10/02/2003 |
formand |
16/03/2015 |
|
Holger Madsen |
10/02/2003 |
BESTYRELSE |
30/05/2005 |
|
Jeannette Kastberg
Lauritsen |
06/11/2002 |
BESTYRELSE |
10/02/2003 |
|
Preben Bang
Henriksen |
01/07/2002 |
BESTYRELSE |
06/11/2002 |
|
Preben Bang
Henriksen |
01/07/2002 |
DIREKTION |
06/11/2002 |
|
Stephan Muurholm |
01/07/2002 |
formand |
06/11/2002 |
|
Morten Lind |
06/11/2002 |
BESTYRELSE |
10/02/2003 |
|
Morten Lind |
06/11/2002 |
DIREKTION |
10/02/2003 |
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Susan Bjerreskov |
06/11/2002 |
BESTYRELSE |
10/02/2003 |
|
Lone Mai Henriksen |
01/07/2002 |
BESTYRELSE |
06/11/2002 |
|
Aamann &
Nørbak Statsautoriserede revisorer |
01/07/2002 |
REVISION |
06/11/2002 |
|
Theocharis Theocharidis |
31/05/2011 |
BESTYRELSE |
17/03/2015 |
Immediate Holding Parent
|
Immediate Holding Company Name VAT/Registration Number |
|
MH55
ApS 36555157 |
Subsidiary Companies
|
Subsidiary Name Number |
|
CABA ApS 34879788 |
Affiliates
|
Affiliate Name Country Number |
|
No affiliates for
this company |
Negative Information
|
No negative
information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.36 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
DKK |
1 |
INR 10.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
DNS |
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 |
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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.