3decades

MIRA INFORM REPORT

Report No. :	484270
Report Date :	06.01.2018

IDENTIFICATION DETAILS

Name :	DK COMPANY ONLINE A/S

Formerly Known As :	BON'A PARTE A/S

Registered Office :	Thrigesvej 7, 7430 Ikast

Country :	Denmark

Financials (as on) :	December 2016

Date of Incorporation :	03.09.1996

Com. Reg. No.:	19778649

Legal Form :	Limited company

Line of Business :	Retail sale of clothing, shoes, leather goods, watches or baby equipment via internet

No. of Employees :	20 – 49 [2017]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow

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

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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 1.6% in 2015 and an estimated 1.3% in 2016. The expansion is expected to continue at similar rates in 2017 and 2018. The labor market has strengthened since 2013, and unemployment stood at 4.2% in early 2017, based on the national measure. By early 2017, some sectors were experiencing difficulties attracting qualified labor. 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 2016 deficit was 1.4%. The government projects lower deficits in 2017 and 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 name

DK Company Online A/S

Company Summary

Business Name	DK Company Online A/S
Country	DENMARK
Company Registration Number	19778649
Activity Code	479116
Activity Description	Retail sale of clothing, shoes, leather goods, watches or baby equipment via internet
Company Status	Normal (Active)
Latest Turnover Figure	77.292.382 DKK
Latest Shareholder Equity Figure	14.331.381 DKK

Basic Information

Business Name	DK Company Online A/S
Registered Company Name	DK Company Online A/S
Company Registration Number	19778649
Country	DENMARK
VAT Registration Number	19778649
Date of Company Registration	03/09/1996
Legal Form	Limited company
Company Status	Normal (Active)
Currency of this Report	DKK
Principal Activity Code	479116
Principal Activity Description	Retail sale of clothing, shoes, leather goods, watches or baby equipment via internet
Contact Address	Thrigesvej 7, 7430 Ikast
Contact Telephone Number	70124040

Main Address

Address	Thrigesvej 7, 7430 Ikast
Country	DENMARK
Telephone	70124040

Activities

Activity Code	Activity Description
479116	Retail sale of clothing, shoes, leather goods, watches or baby equipment via internet

Email Addresses

No email addresses for this company

Previous Names

Previous Name	Date Changed from Previous Name
BON'A PARTE A/S	06/05/2015

Employee Information

Year	Number of Employees
2017	20 - 49
2016	20 - 49
2015	20 - 49

Real Estate

Value

Other Trading Names

BON'A PARTE A/S

FISTER'S POSTKLUB A/S

B0RNET0JSKOMPAGNIET FUNNY KIDS A/S

NECKERMANN DANMARK A/S

Advisors

Auditor Name

Ernst & Young Godkendt Revisionspartnerselskab

Events

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	77.292.382	99.777.675	159.969.312
Operating Costs	96.789.974	111.773.293	250.279.913
Operating Profit	-19.497.592	-11.995.618	-90.310.601
Wages & Salaries	21.826.624	27.738.384	46.740.262
Depreciation	7.602.335
Financial Income	1.338.358	118.735	238.025
Financial Expenses	2.374.888	1.403.200	5.547.881
Profit before Tax	-14.598.759	-11.860.064	-92.922.010
Tax	-10.066.725	-4.922.115	18.035.507
Profit after Tax	-4.532.034	-6.937.949	-110.957.517
Retained Profit	-4.532.034	-6.937.949	-110.957.517
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	12.786.573	14.024.656	15.296.894
Other Tangible Assets	114.466	868.717	965.251
Total Tangible Assets	12.901.039	14.893.373	16.262.145
Other Intangible Assets	5.820.555	10.630.129	8.524.303
Total Intangible Assets	5.820.555	10.630.129	8.524.303
Investments			34.537.881
Miscellaneous Fixed Assets - - -
Total Other Fixed Assets	59.376.005	36.705.812	34.537.881
TOTAL FIXED ASSETS	78.097.599	62.229.314	59.324.329
Finished Goods	23.761.864	17.173.410	35.598.875
Other Inventories - - -
Total Inventories	23.761.864	17.173.410	35.598.875
Trade Receivables	2.238.293	2.378.793	22.498
Group Receivables	25.499.619	3.753.385	1.095.147
Miscellaneous Receivables	2.187.918	890.946	164.553
Total Receivables	29.925.830	7.023.124	1.282.198
Cash	34.898	56.852	104.704
Other Current Assets	12.820.922	9.084.707	4.501.775
TOTAL CURRENT ASSETS	66.543.514	33.338.093	41.487.552
TOTAL ASSETS	144.641.113	95.567.407	100.811.882
Trade Payables	9.904.689	7.780.503	24.327.195
Bank Liabilities		333.775
Other Loans Or Finance	118.716
Group Payables	114.720.052	75.376.486	48.793.633
Miscellaneous Liabilities	5.566.275	8.398.154	17.149.134
TOTAL CURRENT LIABILITIES	130.309.732	91.888.918	90.269.962
Bank Liabilities Due After 1 Year		28.054
Other Loans Or Finance Due After 1 Year - - -
Miscellaneous Liabilities Due After 1 Year - - -
TOTAL LONG TERM LIABILITIES		28.054
TOTAL LIABILITIES	130.309.732	91.916.972	90.269.962
Called Up Share Capital	26.500.000	11.000.000	11.000.000
Revenue Reserves	-13.411.329	-7.349.565	-458.080
Other Reserves	1.242.710
TOTAL SHAREHOLDERS EQUITY	14.331.381	3.650.435	10.541.920
Other Financials
Financial Year	12/2016	12/2015	12/2014
Working Capital	-63.766.218	-58.550.825	-48.782.410
Net Worth	8.510.826	-6.979.694	2.017.617
Ratios
Financial Year	12/2016	12/2015	12/2014
Pre-Tax Profit Margin (%)	-20.64 %	-14.73 %	-66.04 %
Return On Capital Employed (%)	-101.87 %	-322.42 %	-881.45 %
Return On Total Assets Employed (%)	-10.09 %	-12.41 %	-92.17 %
Return On Net Assets Employed (%)	-101.87 %	-324.89 %	-881.45 %
Sales/Net Working Capital	-1.11	-1.38	-2.88
Stock Turnover Ratio (%)	33.59 %	21.32 %	25.30 %
Debtor Days	11.55	10.78	0.06
Creditor Days	51.10	35.26	63.11
Current Ratio	0.51	0.36	0.46
Liquidity Ratio/Acid Test	0.33	0.18	0.07
Current Debt Ratio	9.09	25.17	8.56
Gearing (%) - - -
Equity In Percentage (%)	9.91 %	3.82 %	10.46 %
Total Debt Ratio	9.09	25.18	8.56

Additional financials

Financial Year 12/2016 12/2015 12/2014

Cost Of Sales - 64.657.721 46.326.574

Gross Profit 4.497.145 3.484.012 -44.514.079

Change In Stock - - -

Other Operating Income 6.549.986 19.239.842 19.272.947

Audit Fees - - -

Other Operating Expenses 1.115.764 530.271 5.854.594

Extraordinary Net Result - - -

Investment Property - - -

Contract Work In Progress - - -

Revaluation Reserve - - -

Minority Interests

Share Capital Structure

Nominal Share Capital	26.500.000 DKK
Issued Share Capital	26.500.000 DKK

Shareholders

Shareholder	% Shares Held
DK COMPANY A/S	100

Current Directors

Name	Appointment Date	Position
ERNST & YOUNG Godkendt Revisionspartnerselskab	24/01/2017	REVISION
Kasper Toftek^r Philipsen	31/12/2014	BESTYRELSE
Susanne Stensgaard Jagd	01/01/2016	DIREKT0R
Soren Bak Lauritsen	26/02/2015	formand
Jens Poulsen	26/02/2015	BESTYRELSE
Jens Poulsen	31/12/2014	Reel ejer
Jens Obel Jorgensen	31/12/2014	BESTYRELSE
Neckermann Versand AG	03/09/1996	STIFTERE

Previous Directors

Name	Appointment Date	Position	Resignation Date
Ole Ibsen	12/02/2013	DIREKTION	07/05/2015
Michael Storm	19/05/2003	DIREKTION	15/07/2007
Jens Poulsen	26/02/2015	DIREKTION	01/01/2016
Cornelis Petrus Jozef Gabriels	19/05/2003	DIREKTION	06/12/2004
Flemming Ib Windfeld	03/03/2008	DIREKTION	25/03/2011
Ella Marie Hansen	16/08/2007	DIREKTION	03/03/2008
BDO STATSAUTORISERET REVISIONSAKTIESELSKAB	03/09/1996	REVISION	16/12/2002
BDO STATSAUTORISERET REVISIONSAKTIESELSKAB	03/09/1996	REVISION	02/04/2002
Matthias Siekmann	03/02/2010	formand	30/09/2011
Volker Valk	03/02/2010	BESTYRELSE	30/09/2011
Werner Piotrowski	03/09/1996	formand	15/02/1999
Friedrich Wilhelm Schlich	03/09/1996	BESTYRELSE	19/05/2003
Gisbert Rudolf Steffen	03/09/1996	BESTYRELSE	19/05/2003
Gert Wilhelm Bank	03/09/1996	BESTYRELSE	19/02/1998
Walter Braun	01/03/2002	formand	19/05/2003
Helmut Gerhard Steffen	01/03/2002	BESTYRELSE	19/05/2003
Leo Gunther Kraftsik	19/05/2003	formand	03/02/2010
Philipp Blomeyer	19/05/2003	BESTYRELSE	31/07/2006
Andreas Neuner	19/05/2003	BESTYRELSE	31/07/2006
Alexander Weih	06/12/2004	DIREKTION	03/02/2010
Wolfgang Binder	25/03/2011	DIREKTION	09/01/2013
Bernd Houillon	12/10/2012	DIREKTION	12/10/2012
Bernd Houillon	03/12/2012	DIREKTION	26/02/2015
Olaf Heinrich	31/07/2006	BESTYRELSE	07/05/2009
Gerhard Alexander Bopp	31/07/2006	BESTYRELSE	03/02/2010

Immediate Holding Parent

Immediate Holding Company Name VAT/Registration Number

DK COMPANY A/S 24431118

Subsidiary Companies

Subsidiary Name	Number
DKC Wholesale A/S	27493122

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 63.38
UK Pound	1	INR 86.02
Euro	1	INR 76.50
DKK	1	INR 10.22

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	SYL

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.