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MIRA
INFORM REPORT
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Report No. : |
510612 |
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Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
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Name : |
STRUERS APS |
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Formerly Known As : |
STRUERS A/S |
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Registered Office : |
Pederstrupvej 84, 2750 Ballerup |
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Country : |
Denmark |
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Financials (as on) : |
December 2017 |
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Date of Incorporation : |
01.11.1991 |
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Com. Reg. No.: |
15683309 |
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Legal Form : |
Limited company |
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Line of Business : |
·
Manufacture of metal forming
machinery ·
Manufacture of soap and detergents,
cleaning and polishing preparations ·
Manufacture of abrasive products |
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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+ |
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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) |
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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.
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Source
: CIA |
Company Summary
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Business
Name |
STRUERS ApS |
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Country |
DENMARK |
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Company
Registration Number |
15683309 |
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Activity
Code |
284100 |
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Activity
Description |
Manufacture of metal forming machinery |
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Company
Status |
Normal (Active) |
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Latest
Turnover Figure |
832,369,000 DKK |
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Latest
Shareholder Equity Figure |
3,359,480,000 DKK |
Basic Information
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|
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Business
Name |
STRUERS ApS |
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Registered
Company Name |
STRUERS ApS |
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Company
Registration Number |
15683309 |
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Country |
DENMARK |
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VAT
Registration Number |
15683309 |
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Date
of Company Registration |
01/11/1991 |
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Legal
Form |
Limited company |
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Company
Status |
Normal (Active) |
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Currency
of this Report |
DKK |
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Principal
Activity Code |
284100 |
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Principal
Activity Description |
Manufacture of metal forming machinery |
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Contact
Address |
Pederstrupvej 84, 2750 Ballerup |
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Contact
Telephone Number |
44600800 |
Main Address
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Address |
Pederstrupvej 84, 2750 Ballerup |
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Country |
DENMARK |
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Telephone |
44600800 |
Activities
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Activity
Code |
Activity
Description |
|
284100 |
Manufacture of metal forming machinery |
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204100 |
Manufacture of soap and detergents,
cleaning and polishing preparations |
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239100 |
Manufacture of abrasive products |
Email Addresses
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No email addresses for this company |
Previous Names
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Previous Name
Date Changed from Previous Name |
|
STRUERS
A/S 08/10/2015 |
Employee Information
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Year |
Number
of Employees |
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2017 |
200 - 499 |
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2016 |
200 - 499 |
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2015 |
200 - 499 |
Real Estate
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Value |
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N/A |
Other Trading Names
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SPG OF 1997 ApS |
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KBUS 17 NR.1181 ApS |
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STRUERS HOLDING ApS |
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STRUERS TECH ApS |
Advisors
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Auditor Name PricewaterhouseCoopers
Statsautoriseret Revisionspartnerselskab |
Financials
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Profit and Loss |
|||
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Financial Year |
12/2017 |
12/2016 |
12/2015 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
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Consolidated Accounts |
No |
No |
No |
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Revenue |
832,369,000 |
781,167,000 |
776,590,000 |
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Operating Costs |
581,902,000 |
547,442,000 |
560,874,000 |
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Operating Profit |
250,467,000 |
233,725,000 |
215,716,000 |
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Wages & Salaries |
141,245,000 |
138,407,000 |
133,766,000 |
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Depreciation |
21,604,000 |
23,281,000 |
43,009,000 |
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Financial Income |
102,978,000 |
96,873,000 |
41,098,000 |
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Profit before Tax |
353,445,000 |
347,975,000 |
1,050,335,000 |
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Tax |
85,624,000 |
90,606,000 |
83,330,000 |
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Profit after Tax |
267,821,000 |
257,369,000 |
967,005,000 |
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Dividends |
498,000,000 |
- |
- |
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Retained Profit |
-230,179,000 |
257,369,000 |
967,005,000 |
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Balance Sheet |
|||||
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Financial Year |
12/2017 |
12/2016 |
12/2015 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
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Consolidated Accounts |
No |
No |
No |
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Plant & Machinery |
2,385,000 |
3,556,000 |
1,584,000 |
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Other Tangible Assets |
7,847,000 |
5,504,000 |
8,596,000 |
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Total Tangible Assets |
10,232,000 |
9,060,000 |
10,180,000 |
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Goodwill |
1,742,000 |
19,546,000 |
37,350,000 |
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Other Intangible Assets |
- |
153,000 |
1,073,000 |
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Total Intangible Assets |
1,742,000 |
19,699,000 |
38,423,000 |
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Investments |
3,049,245,000 |
- |
- |
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Miscellaneous Fixed Assets |
- |
- |
- |
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Total Other Fixed Assets |
3,049,245,000 |
626,314,000 |
626,214,000 |
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TOTAL FIXED ASSETS |
3,061,219,000 |
655,073,000 |
674,817,000 |
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Other Inventories |
81,293,000 |
98,790,000 |
94,001,000 |
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Total Inventories |
81,293,000 |
98,790,000 |
94,001,000 |
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Trade Receivables |
25,101,000 |
25,852,000 |
27,128,000 |
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Group Receivables |
77,091,000 |
2,117,082,000 |
2,097,550,000 |
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Miscellaneous Receivables |
14,694,000 |
19,658,000 |
18,061,000 |
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Total Receivables |
116,886,000 |
2,162,592,000 |
2,142,739,000 |
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Cash |
297,345,000 |
387,299,000 |
295,907,000 |
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Other Current Assets |
11,754,000 |
5,896,000 |
5,074,000 |
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TOTAL CURRENT ASSETS |
507,278,000 |
2,654,577,000 |
2,537,721,000 |
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TOTAL ASSETS |
3,568,497,000 |
3,309,651,000 |
3,212,538,000 |
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Trade Payables |
48,803,000 |
50,397,000 |
55,108,000 |
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Group Payables |
6,273,000 |
20,124,000 |
23,028,000 |
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Miscellaneous Liabilities |
152,160,000 |
145,368,000 |
147,698,000 |
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TOTAL CURRENT LIABILITIES |
207,236,000 |
215,889,000 |
225,834,000 |
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Miscellaneous
Liabilities Due After 1 Year |
1,781,000 |
2,103,000 |
2,414,000 |
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TOTAL LONG TERM LIABILITIES |
1,781,000 |
2,103,000 |
2,414,000 |
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TOTAL LIABILITIES |
209,017,000 |
217,992,000 |
228,248,000 |
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Called Up Share Capital |
3,000,000 |
3,000,000 |
3,000,000 |
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Revenue Reserves |
2,858,480,000 |
3,088,659,000 |
2,981,290,000 |
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Other Reserves |
498,000,000 |
- |
- |
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TOTAL SHAREHOLDERS EQUITY |
3,359,480,000 |
3,091,659,000 |
2,984,290,000 |
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Other Financials |
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Financial Year |
12/2017 |
12/2016 |
12/2015 |
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Working Capital |
300,042,000 |
2,438,688,000 |
2,311,887,000 |
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Net Worth |
3,357,738,000 |
3,071,960,000 |
2,945,867,000 |
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Ratios |
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Financial Year |
12/2017 |
12/2016 |
12/2015 |
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Pre-Tax Profit Margin (%) |
42.46 % |
44.55 % |
135.25 % |
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Return On Capital Employed (%) |
10.52 % |
11.25 % |
35.17 % |
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Return On Total Assets Employed (%) |
9.90 % |
10.51 % |
32.69 % |
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Return On Net Assets Employed (%) |
10.52 % |
11.26 % |
35.20 % |
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Sales/Net Working Capital |
2.77 |
0.32 |
0.34 |
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Stock Turnover Ratio (%) |
9.77 % |
12.65 % |
12.10 % |
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Debtor Days |
11.01 |
12.08 |
12.75 |
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Creditor Days |
21.40 |
23.55 |
25.90 |
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Current Ratio |
2.45 |
12.30 |
11.24 |
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Liquidity Ratio/Acid Test |
2.06 |
11.84 |
10.82 |
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Current Debt Ratio |
0.06 |
0.07 |
0.08 |
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Gearing (%) |
- |
- |
- |
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Equity In Percentage (%) |
94.14 % |
93.41 % |
92.90 % |
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Total Debt Ratio |
0.06 |
0.07 |
0.08 |
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Additional
financials |
|||
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Financial Year |
12/2017 |
12/2016 |
12/2015 |
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Cost Of Sales |
384,332,000 |
355,889,000 |
343,947,000 |
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Gross Profit |
413,316,000 |
425,278,000 |
432,643,000 |
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Change In Stock |
- |
- |
- |
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Other Operating Income |
- |
- |
- |
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Audit Fees |
- |
- |
- |
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Other Operating Expenses |
- |
- |
- |
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Extraordinary Net Result |
- |
- |
- |
|
Investment Property |
- |
- |
- |
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Contract Work In Progress |
- |
- |
- |
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Revaluation Reserve |
- |
- |
- |
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Minority Interests |
- |
- |
- |
Share Capital
Structure
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Nominal Share Capital 3,000,000 DKK |
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Issued Share Capital 3,000,000 DKK |
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Shareholders |
|
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Shareholder |
% Shares Held |
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Struers SAS |
100 |
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Current Directors
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Name |
Appointment Date |
Position |
|
Christian de
Courcy Rasmussen |
24/05/2007 |
BESTYRELSE |
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Jason
Phillip Conley |
19/07/2017 |
BESTYRELSESMEDLEM |
|
John Kenneth
Stipancich |
19/07/2017 |
FORMAND |
|
PRICEWATERHOUSECOOPERS STATSAUTORISERET REVISIONSPARTNERSELSKAB |
01/07/2011 |
REVISION |
|
Ole Victor
Berg |
15/05/2017 |
BESTYRELSESMEDLEM |
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Steen Arne
Jensen |
26/05/2014 |
BESTYRELSE |
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Steen Arne
Jensen |
01/04/2009 |
adm. dir |
Previous Directors
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Name |
Appointment Date |
Position |
Resignation Date |
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STRANDVEJEN
44 DANMARK ApS |
01/11/1991 |
REVISION |
18/03/1998 |
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Christian Buhl |
01/11/1991 |
BESTYRELSE |
04/10/1994 |
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Erik Tronborg Andersen |
01/11/1991 |
REVISION |
01/05/1992 |
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Thomas Birch |
04/09/2001 |
BESTYRELSE |
24/04/2003 |
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Ulf Svejgaard Poulsen |
01/11/1991 |
BESTYRELSE |
01/05/1992 |
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Ulrik Høeg |
01/11/1991 |
DIREKTION |
28/07/1993 |
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Jørgen Mads Clausen |
02/02/1998 |
BESTYRELSE |
04/09/2001 |
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Niels Michael Andersen |
04/09/2001 |
BESTYRELSE |
24/04/2003 |
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Susanne Saul Stakemann |
01/11/1991 |
formand |
01/05/1992 |
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Jesper Yde Svensson |
28/05/2015 |
SUPPLEANT |
28/04/2017 |
|
Jacob Holst Vinther |
04/09/2001 |
BESTYRELSE |
26/05/2014 |
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Johan Schrøder |
01/11/1991 |
formand |
30/01/1998 |
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Carsten Grubb |
01/11/1991 |
BESTYRELSE |
30/01/1998 |
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John Hestehave |
01/07/2009 |
BESTYRELSE |
26/05/2014 |
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John Hestehave |
01/08/1998 |
adm. dir |
30/04/2009 |
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Per Emil Hasselbalch Stakemann |
01/11/1991 |
BESTYRELSE |
01/05/1992 |
|
Per Emil Hasselbalch Stakemann |
01/11/1991 |
DIREKTION |
01/05/1992 |
|
Ole-Bent Dalby |
01/11/1991 |
BESTYRELSE |
03/08/1998 |
|
Ole-Bent Dalby |
01/11/1991 |
DIREKTION |
01/08/1998 |
|
Erik Dahl |
01/11/1991 |
BESTYRELSE |
19/12/1997 |
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Bjørn Høi Jensen |
30/01/1998 |
BESTYRELSE |
04/09/2001 |
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Klaus Rudolf Kisbøl |
01/11/1991 |
BESTYRELSE |
04/10/1994 |
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Birgit Angela Berta Ottesen |
01/11/1991 |
BESTYRELSE |
25/09/1998 |
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Jens Frimann |
01/11/1991 |
PERSONLIG_SUPPLEANT |
26/04/1999 |
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Michael Adolf Rückert |
25/09/1998 |
BESTYRELSE |
24/05/2007 |
Group Structure |
|
No group structure for this company |
Negative Information |
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No negative
information for this company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.96 |
|
|
1 |
INR 91.88 |
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Euro |
1 |
INR 80.26 |
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DKK |
1 |
INR 10.74 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.