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MIRA
INFORM REPORT
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Report No. : |
492808 |
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Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
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Name : |
BKI FOODS A/S |
|
|
|
|
Formerly Known As : |
BKI KAFFE A/S |
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|
|
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Registered Office : |
S0ren Nymarks Vej 7, 8270 H0jbjerg |
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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 : |
05.06.1967 |
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Com. Reg. No.: |
56312412 |
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|
|
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Legal Form : |
Limited company |
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|
|
|
Line of Business : |
·
Wholesale
of coffee, tea, cocoa and spices · Processing of tea and coffee |
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|
|
|
No. of Employees : |
100-199 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
Denmark |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 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.
|
Source
: CIA |
Company
Summary
|
Business Name |
BKI FOODS A/S |
|
Country |
DENMARK |
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Company Registration Number |
56312412 |
|
Activity Code |
463700 |
|
Activity Description |
Wholesale of coffee, tea, cocoa and spices |
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Company Status |
Normal (Active) |
|
Latest Turnover Figure |
597,732,143 DKK |
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Latest Shareholder Equity Figure |
193,002,301 DKK |
|
Local Score |
75 |
|
Local Description |
Very Low Risk |
Basic Information
|
Business Name |
BKI FOODS A/S |
|
Registered Company Name |
BKI FOODS A/S |
|
Company Registration Number |
56312412 |
|
Country |
DENMARK |
|
VAT Registration Number |
56312412 |
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Date of Company Registration |
05/06/1967 |
|
Legal Form |
Limited company |
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Company Status |
Normal (Active) |
|
Currency of this Report |
DKK |
|
Principal Activity Code |
463700 |
|
Principal Activity Description |
Wholesale of coffee, tea, cocoa and spices |
|
Contact Address |
S0ren Nymarks Vej 7, 8270
H0jbjerg |
Main Address
|
Address |
S0ren Nymarks Vej 7, 8270
H0jbjerg |
|
Country |
DENMARK |
Activities
|
Activity Code |
Activity Description |
|
463700 |
Wholesale of coffee, tea, cocoa and spices |
|
108300 |
Processing of tea and coffee |
Email
Addresses
|
No email addresses for this company |
Previous
Names
|
Previous Name |
Date Changed from Previous Name |
|
BKI KAFFE A/S |
06/01/2008 |
Employee Information
|
Year |
Number of Employees |
|
2017 |
100 - 199 |
|
2016 |
100 - 199 |
|
2015 |
100 - 199 |
Real Estate
Value
Y
Other Trading Names
Chaplon Tea Estate A/S
Black Coffee Roasters A/S
High Mountain Micro Roastery A/S
Brasil Kaffe Import A/S
MOUNTAIN COFFEE A/S
ENZO ESPRESSO A/S
HELSEM0LLEN A/S
SVEND MATHIESEN A/S
TESPECIALISTEN A/S
TE OG KAFFE SPECIALISTEN A/S
KAFFE SPECIALISTEN A/S
BLACK COFFEE A/S
RUDS K0KKEN A/S
ARC A/S
ARC QUALITY FOODS A/S
AALBORG KAFFEIMPORT A/S
BKI KAFFE A/S
CHRISTGAU KAFFE A/S
HERNING KAFFERISTERI A/S
A/S
KAFFE TORRADO
DANSK M/ERKEVARE KAFFE A/S
DANSK KAFFE PACK A/S
BKI KAFFE CATERING A/S
Advisors
|
Auditor Name |
PricewaterhouseCoopers StatsautoriseretRevisionspartnerselskab |
financials
Profit and Loss
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
DKK |
DKK |
DKK |
|
Consolidated Accounts |
No |
No |
No |
|
Revenue |
597,732,143 |
621,800,398 |
535,909,056 |
|
Operating Costs |
558,978,525 |
579,948,108 |
497,566,905 |
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Operating Profit |
38,753,618 |
41,852,290 |
38,342,151 |
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Wages & Salaries |
74,226,049 |
70,314,862 |
- |
|
Pension Costs |
8,221,283 |
7,586,718 |
- |
|
Financial Income |
65,951 |
40,513 |
48,696 |
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Financial Expenses |
907,697 |
2,053,792 |
1,174,309 |
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Profit before Tax |
45,287,868 |
45,715,753 |
37,559,889 |
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Tax |
9,754,138 |
10,320,886 |
9,587,729 |
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Profit after Tax |
35,533,730 |
35,394,867 |
27,972,160 |
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Dividends |
8,000,000 |
12,000,000 |
9,000,000 |
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Retained Profit |
27,533,730 |
23,394,867 |
18,972,160 |
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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 |
82,110,439 |
86,463,454 |
89,301,671 |
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|
Plant & Machinery |
78,655,815 |
81,991,212 |
55,365,163 |
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Other Tangible Assets |
24,699,525 |
18,926,878 |
47,109,955 |
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Total Tangible Assets |
185,465,779 |
187,381,544 |
191,776,789 |
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Goodwill |
- |
- |
- |
|
|
Total Intangible
Assets |
- |
- |
- |
|
|
Investments |
4,451,104 |
4,033,322 |
3,983,335 |
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Miscellaneous Fixed
Assets |
- |
- |
- |
|
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Total Other Fixed Assets |
7,763,577 |
7,067,479 |
6,560,674 |
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TOTAL FIXED ASSETS |
193,229,356 |
194,449,023 |
198,337,463 |
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Raw Materials |
102,237,216 |
63,701,346 |
81,343,000 |
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Finished Goods |
57,657,648 |
58,161,688 |
44,751,000 |
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Other
Inventories |
- |
- |
- |
|
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Total Inventories |
159,894,864 |
121,863,034 |
126,094,000 |
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Trade Receivables |
102,658,763 |
120,972,552 |
135,350,743 |
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|
Group Receivables |
2,978,789 |
5,134,920 |
1,879,571 |
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Miscellaneous Receivables |
754,762 |
1,740,703 |
1,501,696 |
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Total Receivables |
106,392,314 |
127,848,175 |
138,732,010 |
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|
Cash |
11,224 |
13,146 |
56,357 |
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Other Current Assets |
- |
2,988,703 |
1,520,885 |
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TOTAL CURRENT ASSETS |
266,298,402 |
252,713,058 |
266,403,252 |
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TOTAL ASSETS |
459,527,758 |
447,162,081 |
464,740,715 |
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|
Trade Payables |
54,277,721 |
64,637,649 |
62,912,191 |
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|
Bank Liabilities |
- |
- |
102,255,408 |
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|
Other Loans Or Finance |
37,861,173 |
30,551,159 |
979,744 |
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|
Miscellaneous Liabilities |
39,284,344 |
39,550,060 |
48,188,631 |
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TOTAL CURRENT LIABILITIES |
131,423,238 |
134,738,868 |
214,335,974 |
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|
Other Loans Or Finance Due After 1 Year |
37,076,792 |
41,595,962 |
9,567,919 |
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Miscellaneous Liabilities Due After 1 Year |
98,025,427 |
5,128,478 |
1,610,888 |
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|
TOTAL LONG TERM LIABILITIES |
135,102,219 |
46,724,440 |
11,178,807 |
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|
TOTAL LIABILITIES |
266,525,457 |
181,463,308 |
225,514,781 |
|
|
Called Up Share Capital |
3,000,000 |
3,000,000 |
3,000,000 |
|
|
Revenue Reserves |
182,002,301 |
250,648,786 |
227,225,934 |
|
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Other Reserves |
8,000,000 |
12,049,987 |
9,000,000 |
|
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TOTAL SHAREHOLDERS EQUITY |
193,002,301 |
265,698,773 |
239,225,934 |
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Other Financials
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Working Capital |
134,875,164 |
117,974,190 |
52,067,278 |
|
Net Worth |
193,002,301 |
265,698,773 |
239,225,934 |
Ratios
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
7.65
% |
7.41
% |
7.01
% |
|
Return On Capital Employed (%) |
13.80
% |
14.63
% |
15.00
% |
|
Return On Total Assets Employed (%) |
9.86
% |
10.22
% |
8.08
% |
|
Return On Net Assets Employed (%) |
23.46
% |
17.21
% |
15.70
% |
|
Sales/Net Working Capital |
4.39 |
5.23 |
10.29 |
|
Stock Turnover Ratio (%) |
27.02
% |
19.76
% |
23.53
% |
|
Debtor Days |
63.33 |
71.58 |
92.19 |
|
Creditor Days |
33.48 |
38.25 |
42.85 |
|
Current Ratio |
2.03 |
1.88 |
1.24 |
|
Liquidity Ratio/Acid Test |
0.81 |
0.97 |
0.65 |
|
Current Debt Ratio |
0.68 |
0.51 |
0.90 |
|
Gearing (%) |
- |
- |
- |
|
Equity In Percentage (%) |
42.00
% |
59.42
% |
51.48
% |
|
Total Debt Ratio |
1.38 |
0.68 |
0.94 |
Additional financials
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Cost Of Sales |
433,102,385 |
464,924,721 |
390,538,035 |
|
Gross Profit |
158,570,062 |
151,917,769 |
145,371,021 |
|
Other Operating Income |
6,059,696 |
4,957,908 |
. |
|
Revaluation Reserve |
|
49,987 |
. |
Shareholders
|
Shareholder |
% Shares Held |
|
|
BKI FOODS A/S |
|
25 |
|
KATT HOLDING ApS |
|
25 |
|
MARLIN HOLDING ApS |
|
25 |
Current
Directors
|
PRICEWATERHOUSECOOPERS
STATSAUTORISERET REVISIONSPARTNERSELSKAB |
01/07/2011 |
REVISION |
|
Poul
Henning Zacho |
05/06/1967 |
DIREKTION |
|
Mogens
Kaspersen |
28/05/2015 |
BESTYRELSESMEDLEM |
|
Kirsten
Skott Mathiesen |
01/01/2006 |
Reel
ejer |
|
Karl
Skott Mathiesen |
05/06/1967 |
BESTYRELSE |
|
Karl
Skott Mathiesen |
05/06/1967 |
DIREKTION |
|
Karl
Skott Mathiesen |
01/01/2006 |
Reel
ejer |
|
J0rgen
Kjasr Jacobsen |
27/05/2002 |
BESTYRELSE |
|
Karen
Skott Mathiesen |
05/06/1967 |
BESTYRELSE |
|
Poul
Halfdan Lauritsen |
05/06/1967 |
formand |
|
Kirsten
Skott Mathiesen |
05/06/1967 |
BESTYRELSE |
Previous
Directors
|
Name |
Appointment
Date |
Position |
Resignation
Date |
|
REVISIONSFIRMAET
BJARNE AAEN & CO. ApS, STATSAUTORISERET REVISIONSSELSKAB |
05/06/1967 |
REVISION |
27/05/2002 |
|
S0ren
Holmvang |
05/06/1967 |
BESTYRELSE |
27/05/2002 |
|
Knud
Timn>Andersen |
05/06/1967 |
BESTYRELSE |
28/05/2015 |
Immediate Holding Parent
Immediate Holding Company Name
No information for this company
Subsidiary
Companies
Subsidiary Name
No
subsidaries for this company
Affiliates
|
Affiliate
Name |
Country |
|
KONTRA
A/S |
28520360 |
|
BKI
FOODS A/S |
56312412 |
Negative
Information
No
negative information for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
|
DKK |
1 |
INR 10.73 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KET |
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.