MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Euretco B.V. |
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Registered Office : |
Stadionstraat 2, 4815 NG BREDA |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
15/10/1991 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Holding company. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
Euretco B.V.
Stadionstraat 2
4815 NG BREDA
Tel.:+31
(0)76-5785911
Fax.:+31
(0)76-5785700
Legal status
BV Private Company Ltd. acc. nat. law
Founded
15/10/1991, Ltd. since 16/12/1991
Trade register
20074112
Capital
Nominal EUR 46.000.000,--
issued and paid up EUR 11.481.620,--
Management
Johannes Gerardus Bruijniks, born
26/03/1956, Wilna 8, 4141 MX LEERDAM
Ferdinand den Hoed, born 30/08/1955, Bergse Linker Rottekade 228, 3056 LG ROTTERDAM
Signatory
W.I. Dayles, born 02/05/1929, Noorwitsstraat
61, 3067 KP ROTTERDAM
H.J.M. Willekens, born 28/08/1951, Den Hof
17, 4881 KC ZUNDERT
Activity
Holding company.
Staff
6 employees
Turnover
from the
consolidated balance sheet of Euretco Holding B.V.
2006 Euro 815.175.000
2005 Euro 822.767.000
2004 Euro 908.752.000
Real
estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
Finances
See balance sheet
Remarks
Subsidiary company of
-Euretco
Holding B.V.,
Stadionstraat
2, 4815 NG BREDA
Subsidiary[ies]:
-Euretco
Fashion B.V.,
Meidoornkade 22, 3992 AE HOUTEN
-Bilcon Handelmaatschappij BV,
Vimmerik 12, 5253 CB NIEUWKUIJK
-Euretco Retail BV,
Archimedesstraat 17, 4816 BA BREDA
-Euretco Support BV,
Stadionstraat 2, 4815 NG BREDA
-Detavisie BV,
Stadionstraat 2, 4815 NG BREDA
-Euretco Finance BV,
Stadionstraat 2, 4815 NG BREDA
-Houdstermaatschappij Poelman Beheer Leek BV,
Meidoornkade 22, 3992 AE HOUTEN
-Euretco Sport B.V.,
Stadionstraat 2, 4815 NG BREDA
Previously located:
-Euretco BV,
Archimedesstraat 17, 4816 BA BREDA
The next financial data is extracted from the consolidated
balance sheet of 'Euretco Holding B.V.'
Consolidated net result:
2006 Euro 2.844.000
2005 Euro 5.353.000
2004 Euro 1.174.000
The shareholders equity was as of:
31/12/2006 Euro 27.233.000
31/12/2005 Euro 30.357.000
31/12/2004 Euro 26.820.000
The working capital was
as of:
31/12/2006 Euro 21.760.000
31/12/2005 Euro 22.107.000
31/12/2004 Euro 1.633.000
Euretco, together with its subsidiaries, forms a large buyers'
cooperative, mostly in textiles/clothing.
A declaration of liability has been issued by parent company.
Website : www.euretco.net
Subject matter was formerly a NV - Public Limited.
Correspondence address:
Postbus 3254
4800 ME BREDA
The correspondence address as suggested by you is of Euretco
Label Company BV
Banks
ABN-AMRO NV, Breda, 43.16.51.388
VAT-nr.
NL800937284B01
Mode of payment
Within terms
Credit demand
No objections against entering into a business relationship.
The following
financial data is retrieved from the consolidated balance sheet of :
Euretco Holding
B.V.
Stadionstraat,
4815NG BREDA
Trade register 27258524
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Euretco
Holding B.V. *** BALANCE SHEET ***
Consolidated
in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible
assets 3.840 3.301
Tangible
assets 3.851 3.103
Financial
assets 4.328 5.437
Miscellaneous
fixed assets 0 0
Total fixed assets 12.019 11.841
Stock 2.681 5.641
Receivables 75.255 57.134
Shares 0 0
Liquid
assets 6.555 6.729
Miscellaneous
current assets 0 0
Total current assets 84.491 69.504
Shareholders equity 30.356 26.940
Provisions 3.444 217
Long-term
liabilities 325 6.151
Current
liabilities 62.384 47.744
Minority
interests 1 293
Miscellaneous
liabilities 0 0
Total liabilities 96.510 81.345
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Euretco
Holding B.V. *** PROFIT & LOSS ACCOUNT ***
Consolidated
in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 822.767 815.175
Other
income 11.978 0
Total
expenses 829.740 811.123
Operating
profit 5.005 4.052
Balance
financial P/L -771 -85
Net
profit/loss 1] 4.234 3.967
Taxation -668 1.427
Share
in P/L of subsidiaries -48 599
Net
profit/loss 2] 4.854 3.139
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary
P/L 2] 0 0
Res.
sub. companies 2] 0 0
Minority
interests -499 295
Miscellaneous
P/L 0 0
Net
result 5.353 2.844
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Legend
: 1] = Before tax
2] = After tax
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Euretco
Holding B.V. *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 31,5 33,5
Equity/outside
capital 45,9 49,5
LIQUIDITY
Current
ratio 1,4 1,5
Acid
test 1,3 1,3
RATES
OF RETURN %
Total
assets 4,4 4,9
Shareholders equity 13,9 14,6
Pre
tax margin % 0,5 0,5
Turnover
rate 852,5 1002,1
(x 1.000) (x 1.000)
-------------------- - -------------------
Working
capital 22.107 21.760
Shareholders equity + Equalization acc. 30.357 27.233
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RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)