THORNICO HOLDING A/S — Credit Rating and Financial Key Figures

CVR number: 35258000
Havnegade 36, 5000 Odense C

Company information

Official name
THORNICO HOLDING A/S
Established
2013
Company form
Limited company
Industry

About THORNICO HOLDING A/S

THORNICO HOLDING A/S (CVR number: 35258000K) is a company from ODENSE. The company reported a net sales of 9472.9 mDKK in 2023, demonstrating a decline of -21.9 % compared to the previous year. The operating profit percentage was at 7.2 % (EBIT: 680.1 mDKK), while net earnings were 643.8 mDKK. The profitability of the company measured by Return on Assets (ROA) was 8.2 %, which can be considered good but Return on Equity (ROE) was 18.2 %, which can be considered excellent. The equity ratio, a key indicator for solidity, stood at 43.2 %, a level that can be considered to be modest. This means a balanced mix of debt and equity financing its assets—a typical operational level for many companies. THORNICO HOLDING A/S's liquidity measured by quick ratio was 1 which is at a modest level. Thus, the company's liquid assets are in relative balance with its short-term liabilities, indicating a moderate liquidity position. While it's likely to meet its current obligations, financial flexibility may be constrained, and unexpected costs could pose challenges.

Financial information

See financials

Net sales (mDKK)

EBIT (mDKK)

Profitability

Solidity

Key figures (mDKK)

See financials
2019
2020
2021
2022
2023
Volume
Net sales9 211.758 575.2710 099.6612 131.329 472.90
Gross profit2 179.342 215.492 662.822 810.572 883.13
EBIT528.63747.64968.25716.85680.13
Net earnings429.97536.67830.80302.15643.83
Shareholders equity total2 451.962 698.533 641.934 046.453 812.27
Balance sheet total (assets)6 767.467 103.858 404.899 414.548 825.96
Net debt- 524.181 963.032 000.381 577.44
Profitability
EBIT-%5.7 %8.7 %9.6 %5.9 %7.2 %
ROA7.8 %10.8 %15.3 %9.3 %8.2 %
ROE18.9 %20.8 %28.2 %8.9 %18.2 %
ROI7.8 %10.8 %17.4 %12.0 %10.7 %
Economic value added (EVA)422.89624.43681.96295.42248.23
Solvency
Equity ratio100.0 %100.0 %43.3 %43.0 %43.2 %
Gearing69.5 %68.4 %60.5 %
Relative net indebtedness %-6.1 %38.1 %34.4 %40.8 %
Liquidity
Quick ratio0.90.91.0
Current ratio1.41.51.5
Cash and cash equivalents524.18569.45767.60727.69
Capital use efficiency
Trade debtors turnover (days)59.950.959.4
Net working capital %6.1 %13.0 %15.1 %17.8 %
Credit risk
Credit ratingBBBAAAAAAA

Variable visualization

ROA:8.24%
Rating: 52/100
-20%
0%
4%
11%
24%
60%
Graph showing the distribution of the variable
Equity ratio:43.2%
Rating: 35/100
-1%
21%
50%
81%
99%
100%
Graph showing the distribution of the variable

Roles

Chairman of the board

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