|
|
|
MIRA INFORM REPORT
|
Report No. : |
497744 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SANOVO TECHNOLOGY AS |
|
|
|
|
Formerly Known As : |
SANOVO ENGINEERING A/S |
|
|
|
|
Registered Office : |
Datavej 3, 5220 Odense SØ |
|
|
|
|
Country : |
Denmark |
|
|
|
|
Financials (as on) : |
December 2016 |
|
|
|
|
Date of Incorporation : |
13.11.1979 |
|
|
|
|
Com. Reg. No.: |
85485911 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Other Machinery and Equipment |
|
|
|
|
No. of Employees : |
100 – 199 [2017] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
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 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
|
|
|
Business Name |
SANOVO TECHNOLOGY A/S |
|
Safe Number |
DK03657979 |
|
Country |
DENMARK |
|
Company
Registration Number |
85485911 |
|
Activity Code |
466900 |
|
Activity
Description |
Wholesale of other machinery and equipment |
|
Company Status |
Normal (Active) |
|
Latest Turnover
Figure |
- |
|
Latest
Shareholder Equity Figure |
172,727,215 DKK |
Basic Information
|
|
|
Business Name |
SANOVO TECHNOLOGY A/S |
|
Registered Company
Name |
SANOVO TECHNOLOGY A/S |
|
Company
Registration Number |
85485911 |
|
Country |
DENMARK |
|
VAT Registration
Number |
85485911 |
|
Date of Company
Registration |
13/11/1979 |
|
Legal Form |
Limited Company |
|
Company Status |
Normal (Active) |
|
Currency of this
Report |
DKK |
|
Principal
Activity Code |
466900 |
|
Principal
Activity Description |
Wholesale of other machinery and equipment |
|
Contact Address |
Datavej 3, 5220 Odense SØ |
|
Contact
Telephone Number |
- - |
Main Address
|
|
Address Datavej 3, 5220 Odense SØ |
|
Country DENMARK |
Activities
|
|
Activity Code Activity Description |
|
466900 Wholesale of other machinery and equipment |
Email Addresses
|
|
No email addresses for this company |
Previous Names
|
|
Previous Name Date Changed from Previous Name |
|
SANOVO ENGINEERING A/S 08/09/2009 |
Employee Information
|
|
|
Year |
Number of
Employees |
|
2017 |
100 - 199 |
|
2016 |
100 - 199 |
|
2015 |
100 - 199 |
Real Estate
|
|
Value |
|
N/A |
Other Trading Names
|
|
SANOVO ENGINEERING A/S |
Advisors
|
|
Auditor Name Deloitte |
Events
|
|
|
Event Date |
Event
Description |
|
2018-02-03T08:28:15 |
Rating increased |
|
2017-12-01T12:15:19 |
Rating increased |
|
2016-06-17T03:12:39 |
Rating increased |
|
2017-07-01T05:05:28 |
Rating decreased |
|
2017-06-01T04:05:02 |
Rating decreased |
|
2018-02-03T08:28:20 |
Positive limit change |
|
2017-12-01T12:15:23 |
Positive limit change |
|
2016-06-17T03:12:40 |
Positive limit change |
|
2017-07-01T05:05:34 |
Negative limit change |
|
2017-06-01T04:05:05 |
Negative limit change |
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 |
|
Operating Profit |
1,550,876 |
20,610,651 |
11,280 |
|
Wages & Salaries |
72,189,436 |
59,467,588 |
49,169 |
|
Pension Costs |
7,653,918 |
6,806,403 |
5,780 |
|
Depreciation |
1,955,087 |
2,711,340 |
3,075 |
|
Financial Income |
3,366,136 |
7,115,343 |
8,109 |
|
Financial Expenses |
8,407,988 |
1,701,175 |
2,859 |
|
Profit before Tax |
48,852,152 |
82,685,956 |
25,626 |
|
Tax |
-645,735 |
6,083,186 |
4,330 |
|
Profit after Tax |
49,497,887 |
76,602,770 |
21,296 |
|
Dividends |
25,000,000 |
40,000,000 |
22,000 |
|
Retained Profit |
24,497,887 |
36,602,770 |
-704 |
|
|
|
|
|
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 |
|
Plant & Machinery |
202,586 |
15,941 |
25 |
|
Other Tangible Assets |
20,785,478 |
9,675,243 |
5,472 |
|
Total Tangible Assets |
20,988,064 |
9,691,184 |
5,497 |
|
Other Intangible Assets |
- |
- |
692 |
|
Total Intangible Assets |
- |
- |
692 |
|
Investments |
- |
- |
122,534 |
|
Miscellaneous Fixed Assets |
- |
- |
- |
|
Total Other Fixed Assets |
201,160,290 |
184,736,256 |
122,534 |
|
TOTAL FIXED ASSETS |
222,148,354 |
194,427,440 |
128,723 |
|
Raw Materials |
21,169,860 |
16,699,136 |
14,610 |
|
Work In Progress |
34,314,071 |
25,037,668 |
14,236 |
|
Finished Goods |
13,505,382 |
9,099,282 |
4,407 |
|
Other Inventories |
- |
- |
- |
|
Total Inventories |
68,989,313 |
50,836,086 |
33,253 |
|
Trade Receivables |
47,244,596 |
18,495,630 |
20,765 |
|
Group Receivables |
169,458,540 |
138,579,826 |
120,582 |
|
Miscellaneous Receivables |
1,924,635 |
1,971,013 |
2,629 |
|
Total Receivables |
218,627,771 |
159,046,469 |
143,976 |
|
Cash |
1,397,870 |
56,861,281 |
4,711 |
|
Other Current Assets |
2,550,980 |
- |
- |
|
TOTAL CURRENT ASSETS |
291,565,934 |
266,743,836 |
181,940 |
|
TOTAL ASSETS |
513,714,288 |
461,171,276 |
310,663 |
|
Trade Payables |
29,656,514 |
14,817,253 |
9,614 |
|
Bank Liabilities |
74,215,458 |
16,225,955 |
82,824 |
|
Group Payables |
192,812,372 |
202,174,947 |
67,000 |
|
Miscellaneous Liabilities |
39,435,330 |
43,787,307 |
24,628 |
|
TOTAL CURRENT LIABILITIES |
336,119,674 |
277,005,462 |
184,066 |
|
Bank Liabilities Due After 1 Year |
- |
- |
2,384 |
|
Miscellaneous Liabilities Due After 1 Year |
4,867,399 |
3,497,685 |
2,230 |
|
TOTAL LONG TERM LIABILITIES |
4,867,399 |
3,497,685 |
4,614 |
|
TOTAL LIABILITIES |
340,987,073 |
280,503,147 |
188,680 |
|
Called Up Share Capital |
15,625,000 |
15,625,000 |
15,625 |
|
Revenue Reserves |
132,102,215 |
125,043,129 |
84,358 |
|
Other Reserves |
25,000,000 |
40,000,000 |
22,000 |
|
TOTAL SHAREHOLDERS EQUITY |
172,727,215 |
180,668,129 |
121,983 |
|
Other Financials |
|
|
|
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Working Capital |
-44,553,740 |
-10,261,626 |
-2,126 |
|
Net Worth |
172,727,215 |
180,668,129 |
121,291 |
|
|
|
|
|
Ratios
|
|||
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Pre-Tax Profit Margin (%) |
- |
- |
- |
|
Return On Capital Employed (%) |
27.51 % |
44.90 % |
20.24 % |
|
Return On Total Assets Employed (%) |
9.51 % |
17.93 % |
8.25 % |
|
Return On Net Assets Employed (%) |
28.28 % |
45.77 % |
21.01 % |
|
Sales/Net Working Capital |
- |
- |
- |
|
Stock Turnover Ratio (%) |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
|
Creditor Days |
- |
- |
- |
|
Current Ratio |
0.87 |
0.96 |
0.99 |
|
Liquidity Ratio/Acid Test |
0.66 |
0.78 |
0.81 |
|
Current Debt Ratio |
1.95 |
1.53 |
1.51 |
|
Gearing (%) |
- |
- |
- |
|
Equity In Percentage (%) |
33.62 % |
39.18 % |
39.27 % |
|
Total Debt Ratio |
1.97 |
1.55 |
1.55 |
|
|
|
|
|
Additional
financials
|
|||
|
Financial Year |
12/2016 |
12/2015 |
12/2014 |
|
Cost Of Sales |
- |
- |
- |
|
Gross Profit |
83,476,090 |
89,595,982 |
69,304 |
|
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 15,625,000 DKK |
|
Issued Share Capital 15,625,000 DKK |
Shareholders
|
|
Shareholder % Shares
Held |
|
LACTOSAN-SANOVO HOLDING A/S 100 |
Current Directors
|
||
|
Name |
Appointment Date |
Position |
|
Michael Strange Midskov |
01/05/2012 |
adm. dir |
|
Thor Stadil |
13/11/1979 |
formand |
|
DELOITTE STATSAUTORISERET REVISIONSPARTNERSELSKAB |
13/10/2011 |
REVISION |
|
Ronald Lambertus Maria Bouwens |
01/03/2009 |
BESTYRELSE |
|
Christian Nicholas Stadil |
26/05/2000 |
BESTYRELSE |
|
Christian Nicholas Stadil |
01/11/2017 |
Reel ejer |
Previous Directors
|
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Bjørn Mathiesen |
01/09/2009 |
adm. dir |
31/03/2012 |
|
Søren Ring |
29/04/2002 |
BESTYRELSE |
01/03/2009 |
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Hans Bech Petersen |
13/11/1979 |
PERSONLIG_SUPPLEANT |
06/03/1990 |
|
Aage Stadil |
13/11/1979 |
BESTYRELSE |
28/08/1989 |
|
Erik Skaaring |
13/11/1979 |
BESTYRELSE |
06/03/1990 |
|
Ole Thisgaard |
13/11/1979 |
DIREKTION |
31/05/2000 |
|
Jens Peter Schousen |
07/03/2002 |
BESTYRELSE |
29/04/2002 |
|
Jens Peter Schousen |
13/11/1979 |
DIREKTION |
31/12/2000 |
|
Frank Petersen |
03/08/2001 |
BESTYRELSE |
07/03/2002 |
|
Frank Petersen |
13/11/1979 |
formand |
18/05/2001 |
|
Gyda Stadil |
13/11/1979 |
PERSONLIG_SUPPLEANT |
06/03/1990 |
|
Søren Ring |
01/04/2008 |
adm. dir |
01/03/2009 |
|
Hans Bech Petersen |
18/05/2001 |
formand |
07/03/2002 |
|
Ronald Lambertus Maria Bouwens |
01/03/2009 |
adm. dir |
01/09/2009 |
|
Bjørn Stadil |
13/11/1979 |
BESTYRELSE |
26/05/2000 |
|
Bjørn Stadil |
13/11/1979 |
PERSONLIG_SUPPLEANT |
28/08/1989 |
Immediate Holding Parent
|
|
Immediate Holding Company Name VAT/Registration Number |
|
LACTOSAN-SANOVO HOLDING A/S 37750913 |
Subsidiary Companies
|
|
Subsidiary Name
Number |
|
Sanovo Logistic ApS
38038001 |
|
SANOVO PROCESS SOLUTIONS A/S 32438334 |
|
Sanovo Technology Pharma A/S 38312235 |
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 65.02 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
|
DKK |
1 |
INR 10.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.