MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Varian B.V. |
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Registered Office : |
Herculesweg 8, 4338 Pl Middelburg |
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Country : |
Netherlands |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
01/01/1969 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Plant for surgical and medical, orthopaedical and dental
instruments, electrical measure and test equipment, glass products, pressed /
blowen glass and glass works. |
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 : |
Average 10 days beyond terms |
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Litigation : |
Clear |
name & address
Varian B.V.
Herculesweg 8
4338 PL MIDDELBURG
Tel.:+31
(0)118-671000
Fax.:+31 (0)118-633118
Legal status
BV Private Company Ltd. acc. nat. law
Founded
01/01/1969, Ltd. since 27/11/1973
Trade register
22018010
Capital
nominal EUR 48.970.000,--
issued and paid up EUR 9.794.000,--
Management
RENE C.M. DE NIJS, born 13/05/1953, NOORDWEG 403, 4333 KC MIDDELBURG
HENDRICUS P.G. BROOSUS, born 10/01/1953, Meulenblock 19, 4631 ZZ HOOGERHEIDE
Commissioner
NICHOLAS C. MERRY, born 30/04/1968, UK
ARTHUR W. HOMAN, born 04/06/1959, USA
JOHN D. MILLS, born 24/10/1947, USA
STEPHEN SCHULTHEIS, born 16/11/1945, USA
Activity
Plant for surgical and medical, orthopaedical and dental
instruments, electrical measure and test equipment, glass products, pressed / blowen glass
and glass works.
Staff
129 employees
Turnover
Net
turnover:
2006 Euro 106.226.000
2005 Euro 88.702.000
2004 Euro 83.435.000
Real estate
The business premises at the mentioned
address is owned by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 13.654.000
2005 Euro 9.646.000
2004 Euro 7.691.000
The shareholders equity was as of:
30/09/2006 Euro 57.865.000
30/09/2005 Euro 44.211.000
30/09/2004 Euro 34.564.000
The working capital was
as of:
30/09/2006 Euro 12.328.000
30/09/2005 Euro 37.300.000
30/09/2004 Euro 27.685.000
Parent company:
Varian Inc., Hansen Way 3120, Palo Alto
CA, USA, regnr. 2990317
Website: www.varianinc.com
Subsidiaries:
Chrompack Belgium NV, (100%) Belgium
Chrompack Italia SRL, (099%) Italy
Chrompack France SARL, (099%) France
Correspondence address:
PO box 8033
4330 AE MIDDELBURG.
Banks
ABN-AMRO NV, Middelburg,
56.93.12.302
VAT-nr.
NL001709331B01
Mode of payment
On average 10 days beyond terms.
Credit demand
No objections against entering into a business relationship.
The following
financial data is retrieved from the corporate balance sheet of :
Varian B.V.
Herculesweg 8, 4338
PL MIDDELBURG
Trade register 22018010
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Varian
B.V. *** BALANCE SHEET ***
Corporate
in Euro(x 1.000) Euro(x 1.000)
---30-09-2005--- ------30-09-2006---
Intangible
assets 70 0
Tangible
assets 7.282 8.016
Financial
assets 10 37.946
Miscellaneous
fixed assets 0 0
Total fixed assets 7.362 45.962
Stock 10.607 10.936
Receivables 14.686 16.611
Shares 0 0
Liquid
assets 19.822 5.009
Miscellaneous
current assets 0 0
Total current assets 45.115 32.556
Shareholders equity 44.211 57.865
Provisions 451 425
Long-term
liabilities 0 0
Current
liabilities 7.815 20.228
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 52.477 78.518
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Varian
B.V. *** PROFIT & LOSS ACCOUNT
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Corporate
in Euro(x 1.000) Euro(x 1.000)
---30-09-2005--- ------30-09-2006---
Turnover 88.702 106.226
Other
income 0 0
Total
expenses 74.759 86.514
Operating
profit 13.942 19.712
Balance
financial P/L 260 -196
Net
profit/loss 1] 14.202 19.516
Taxation 4.556 5.862
Share
in P/L of subsidiaries 0 0
Net
profit/loss 2] 9.646 13.654
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary
P/L 2] 0 0
Res.
sub. companies 2] 0 0
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 9.646 13.654
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Legend
: 1] = Before tax
2] = After tax
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Varian
B.V. *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 84,2 73,7
Equity/outside
capital 534,9 280,2
LIQUIDITY
Current
ratio 5,8 1,6
Acid
test 4,4 1,1
RATES
OF RETURN %
Total
assets 27,1 24,9
Shareholders equity 32,1 33,7
Pre
tax margin % 16 18,4
Turnover
rate 169 135,3
(x 1.000) (x 1.000)
-------------------- --------------------
Working
capital 37.300 12.328
Shareholders equity + Equalization acc. 44.211 57.865
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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%)