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MIRA
INFORM REPORT
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Report No. : |
510604 |
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Report Date : |
22.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ELLAB
A/S |
|
|
|
|
Formerly Known As : |
A/S
PSE 38 NR. 1936 |
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|
|
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Registered Office : |
Trollesmindealle
25, 3400 Hillerod |
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Country : |
Denmark |
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|
|
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Financials (as on) : |
April 2017 |
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Date of Incorporation : |
01.04.1998 |
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Com. Reg. No.: |
20896949 |
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|
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Legal Form : |
Limited
company |
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|
|
|
Line of Business : |
Manufacture
of medical and dental instruments and supplies |
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|
|
|
No. of Employees : |
50
– 99 [2017] |
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 name
Business
Name ELLAB A/S
Company Summary
|
Business Name |
ELLAB A/S |
|
Country |
DENMARK |
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Company Registration Number |
20896949 |
|
Activity Code |
325000 |
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Activity Description |
Manufacture of medical and dental instruments and
supplies |
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Company Status |
Normal (Active) |
|
Latest Shareholder Equity Figure |
106,982,000 DKK |
Basic Information
|
Business Name |
ELLAB A/S |
|
Registered Company Name |
ELLAB A/S |
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Company Registration Number |
20896949 |
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Country |
DENMARK |
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VAT Registration Number |
20896949 |
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Date of Company Registration |
01/04/1998 |
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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 |
325000 |
|
Principal Activity Description |
Manufacture of medical and dental instruments and
supplies |
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Contact Address |
Trollesmindealle 25, 3400 Hillerod |
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Contact Telephone Number |
44520500 |
Main Address
|
Address |
Trollesmindealle 25, 3400 Hillerod |
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Country |
DENMARK |
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Telephone |
44520500 |
Activities
|
Activity Code |
Activity Description |
|
325000 |
Manufacture of medical and dental instruments and
supplies |
Email Addresses
Previous Names
|
Previous Name |
Date Changed from Previous Name |
|
A/S PSE 38 NR. 1936 |
24/09/1998 |
Employee Information
|
Year |
Number of Employees |
|
2017 |
50 - 99 |
|
2016 |
50 - 99 |
|
2015 |
50 - 99 |
Real Estate
Value
N/A
Other Trading Names
No
information for this company.
Advisors
Auditor
Name PricewaterhouseCoopers
Statsautoriseret Revisionspartnerselskab
Financials
|
Profit and Loss |
|
|
|
|
Financial Year |
04/2017 |
04/2016 |
04/2015 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
|
Consolidated Accounts |
No |
No |
No |
|
Operating Profit |
62,819,000 |
50,235,000 |
40,140,000 |
|
Wages & Salaries |
34,341,000 |
35,956,000 |
34,277,000 |
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Pension Costs |
2,514,000 |
- |
- |
|
Depreciation |
- |
2,029,000 |
1,267,000 |
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Financial Income |
182,000 |
28,000 |
2,074,000 |
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Financial Expenses |
169,000 |
462,000 |
74,000 |
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Profit before Tax |
62,890,000 |
60,852,000 |
50,766,000 |
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Tax |
12,957,000 |
-10,795,000 |
-9,736,000 |
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Profit after Tax |
49,933,000 |
50,057,000 |
41,030,000 |
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Dividends |
- |
- |
10,000,000 |
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Retained Profit |
49,933,000 |
50,057,000 |
31,030,000 |
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Balance Sheet |
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|
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Financial Year |
04/2017 |
04/2016 |
04/2015 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
DKK |
DKK |
DKK |
|
Consolidated Accounts |
No |
No |
No |
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Plant & Machinery |
1,190,000 |
1,114,000 |
573,000 |
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Other Tangible Assets |
2,755,000 |
3,126,000 |
2,735,000 |
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Total Tangible Assets |
3,945,000 |
4,240,000 |
3,308,000 |
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Other Intangible Assets |
2,637,000 |
2,878,000 |
2,115,000 |
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Total Intangible Assets |
2,637,000 |
2,878,000 |
2,115,000 |
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Total Other Fixed Assets |
24,272,000 |
28,277,000 |
23,645,000 |
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TOTAL FIXED ASSETS |
30,854,000 |
35,395,000 |
29,068,000 |
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Raw Materials |
7,102,000 |
7,045,000 |
9,419,000 |
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Finished Goods |
4,279,000 |
2,845,000 |
2,987,000 |
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Total Inventories |
11,381,000 |
9,890,000 |
12,406,000 |
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Trade Receivables |
4,916,000 |
5,675,000 |
4,054,000 |
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Group Receivables |
27,980,000 |
11,227,000 |
9,155,000 |
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Miscellaneous Receivables |
278,000 |
174,000 |
877,000 |
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Total Receivables |
33,174,000 |
17,076,000 |
14,086,000 |
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Cash |
53,663,000 |
12,369,000 |
15,352,000 |
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Other Current Assets |
1,800,000 |
570,000 |
566,000 |
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TOTAL CURRENT ASSETS |
100,018,000 |
39,905,000 |
42,410,000 |
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TOTAL ASSETS |
130,872,000 |
75,300,000 |
71,478,000 |
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Trade Payables |
2,848,000 |
1,805,000 |
1,756,000 |
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Miscellaneous Liabilities |
20,942,000 |
16,497,000 |
16,582,000 |
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TOTAL CURRENT LIABILITIES |
23,790,000 |
18,302,000 |
18,338,000 |
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Miscellaneous Liabilities Due After 1 Year |
100,000 |
50,000 |
450,000 |
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TOTAL LONG TERM
LIABILITIES |
100,000 |
50,000 |
450,000 |
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TOTAL LIABILITIES |
23,890,000 |
18,352,000 |
18,788,000 |
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Called Up Share Capital |
15,000,000 |
15,000,000 |
15,000,000 |
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Revenue Reserves |
71,939,000 |
19,017,000 |
8,620,000 |
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Other Reserves |
20,043,000 |
22,931,000 |
29,070,000 |
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TOTAL SHAREHOLDERS EQUITY |
106,982,000 |
56,948,000 |
52,690,000 |
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Other Financials Financial Year |
04/2017 |
04/2016 |
04/2015 |
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Working Capital |
76,228,000 |
21,603,000 |
24,072,000 |
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Net Worth |
104,345,000 |
54,070,000 |
50,575,000 |
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Ratios |
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Financial Year |
04/2017 |
04/2016 |
04/2015 |
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Pre-Tax Profit Margin
(%) |
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|
|
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Return On Capital
Employed (%) |
58.73 % |
106.76 % |
95.53 % |
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Return On Total Assets
Employed (%) |
48.05 % |
80.81 % |
71.02 % |
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Return On Net Assets
Employed (%) |
58.79 % |
106.86 % |
96.35 % |
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Sales/Net Working
Capital |
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|
|
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Stock Turnover Ratio
(%) |
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Debtor Days |
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Creditor Days |
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Current Ratio |
4.20 |
2.18 |
2.31 |
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Liquidity Ratio/Acid Test |
3.73 |
1.64 |
1.64 |
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Current Debt Ratio |
0.22 |
0.32 |
0.35 |
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Gearing (%) |
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|
|
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Equity In Percentage (%) |
81.75 % |
75.63 % |
73.71 % |
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Total Debt Ratio |
0.22 |
0.32 |
0.36 |
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Additional financials |
|
|
|
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Financial Year |
04/2017 |
04/2016 |
04/2015 |
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Cost Of Sales |
|
|
|
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Gross Profit |
98,962,000 |
82,139,000 |
74,670,000 |
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Revaluation Reserve |
19,304,000 |
22,931,000 |
19,070,000 |
Share Capital Structure
|
Nominal Share Capital |
15,000,000 DKK |
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Issued Share Capital |
15,000,000 DKK |
Shareholders
|
Shareholder |
% Shares Held |
|
Saballe BidCo ApS |
100 |
Current Directors
|
Name |
Appointment Date |
Position |
|
AKTIESELSKABET STAKEMANN |
01/04/1998 |
STIFTERE |
|
PRICEWATERHOUSECOOPERS STATSAUTORISERET
REVISIONSPARTNERSELSKAB |
26/10/2016 |
REVISION |
|
Alireza Etemad |
17/08/2016 |
BESTYRELSESMEDLEM |
|
Michael Raldow |
17/08/2016 |
BESTYRELSESMEDLEM |
|
Torben Ladegaard |
23/09/2016 |
FORMAND |
|
Peter Krogh |
24/08/2004 |
BESTYRELSE |
|
Peter Krogh |
09/08/1999 |
adm. dir |
|
Thomas Astrup Klitbo |
17/08/2016 |
BESTYRELSESMEDLEM |
Previous Directors
|
Name |
Appointment Date |
Position |
Resignation Date |
|
ERNST & YOUNG Danmark A/S |
15/12/1998 |
REVISION |
23/08/2006 |
|
DVU STATSAUTORISERET REVISIONSAKTIESELSKAB |
23/08/2006 |
REVISION |
26/10/2016 |
|
Dan Soudry |
17/08/2016 |
BESTYRELSESMEDLEM |
21/08/2017 |
|
Kurt Sander Vamberg Rasmussen |
31/08/1998 |
formand |
12/03/2001 |
|
Sys Agnes Rovsing |
18/03/2005 |
formand |
17/08/2016 |
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Hans J0rgen Leo Nielsen |
31/08/1998 |
BESTYRELSE |
17/08/2016 |
|
Hans J0rgen Leo Nielsen |
31/08/1998 |
DIREKTION |
09/08/1999 |
|
Kjeld Erkmann |
31/08/1998 |
DIREKTION |
01/03/2000 |
|
Kim Madsen |
01/04/1998 |
formand |
31/08/1998 |
|
Peter Andreas Stakemann |
01/04/1998 |
BESTYRELSE |
31/08/1998 |
|
Peter Andreas Stakemann |
01/04/1998 |
DIREKTION |
31/08/1998 |
|
Carsten Krogh |
31/08/1998 |
formand |
18/03/2005 |
|
Berthold Peter Kelting |
31/08/1998 |
BESTYRELSE |
02/09/2002 |
|
Henrik Kim Nielsen |
21/08/2001 |
BESTYRELSE |
24/08/2004 |
|
Annemette Heller |
01/04/1998 |
BESTYRELSE |
31/08/1998 |
Immediate Holding Parent
|
Immediate Holding Company Name |
VAT/Registration Number |
|
Saballe BidCo ApS |
37853984 |
Subsidiary Companies
No
subsidaries for this company
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 68.09 |
|
|
1 |
INR 91.41 |
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Euro |
1 |
INR 79.93 |
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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 : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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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.