MIRA
INFORM REPORT
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Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
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Name : |
Stork Thermeq B. V. |
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Registered Office : |
Langelermaatweg 12, 7553 Jd Hengelo Ov |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
24/12/1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Design of and manufacture of and the wholesale business in machinery, boilers and equipment. |
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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Maximum Credit Limit : |
EUR 500.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
name & address
Stork Thermeq B.
V.
Langelermaatweg 12
7553 JD
Tel. : +31 (0)74-2401724
Fax. : +31
(0)74-2424790
Legal status
BV Private Company Ltd. acc. nat. law
Founded
24/12/1996 as Ltd.
Trade register
06082444
Capital
nominal EUR 90.756,--
issued and paid up EUR 18.151,--
Management
H.L.J.M. vd Pasch, born 09/12/1949, De Roef
13, 3904 PC VEENENDAAL
Activity
Design of and manufacture of and the
wholesale business in machinery, boilers
and equipment.
Staff
100 employees
from the consolidated balance sheet of
2006
Euro 2.009.100.000
2005
Euro 1.817.908.000
2004
Euro 1.823.540.000
Real estate
The business premises at the mentioned
address has been rented by the company, as far as we know.
See balance sheet
Remarks
Subsidiary company of
-Stork NV,
Amersfoortsestraatweg 7, 1412 KA NAARDEN
The next financial data is extracted from the consolidated
balance sheet of '
Consolidated net result:
2006 Euro 149.900.000
2005 Euro 93.496.000
2004 Euro 77.677.000
The shareholders equity was as of:
31/12/2006 Euro 468.600.000
31/12/2005 Euro 546.550.000
31/12/2004 Euro 479.118.000
The working capital was as of:
31/12/2006 Euro 138.400.000
31/12/2005 Euro 275.133.000
31/12/2004 Euro 293.427.000
Website : www.stork.com and www.thermeq.nl
A declaration of liability has been issued by
Correspondence address:
Postbus 33
7550 AA
Banks
Mode of payment
On average 10 days beyond terms.
Credit demand
No objections against entering into a business relationship.
A maximum credit limit of EUR 500.000
is advised
The following financial data is retrieved
from the consolidated balance sheet of :
Amersfoortsestraatweg, 1412KA NAARDEN
Trade register 32044373
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Consolidated in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 83.036 167.800
Tangible assets 280.855 259.300
Financial assets 24.600 16.000
Miscellaneous fixed
assets 0 1.300
Total fixed assets 388.491 444.400
Stock 213.043 208.900
Receivables 514.432 466.600
Shares 0 59.800
Liquid assets 212.419 93.200
Miscellaneous
current assets 15.276 113.800
Total current assets 955.170 942.300
Shareholders equity 544.070 466.200
Provisions 45.413 0
Long-term
liabilities 71.661 114.200
Current liabilities 680.037 803.900
Minority interests 2.480 2.400
Miscellaneous
liabilities 0 0
Total liabilities 1.343.661 1.386.700
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Consolidated in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 1.817.908 2.009.100
Other income 11.043 0
Total expenses 1.700.290 1.923.600
Operating profit 128.661 85.500
Balance financial
P/L -263 -3.600
Net profit/loss 1] 128.398 81.900
Taxation 36.479 -2.000
Share in P/L of
subsidiaries 1.577 0
Net profit/loss 2] 93.496 83.900
Balance
extraordinary P/L 0 66.000
Taxation 0 0
Extraordinary P/L
2] 0 66.000
Res. sub. companies
2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 93.496 149.900
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Legend : 1] = Before tax
2] = After
tax
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-----2005----- -----2006-----
EQUITY %
Equity gearing 40,7 33,8
Equity/outside
capital 68 50,6
LIQUIDITY
Current ratio 1,4 1,2
Acid test 1,1 0,9
RATES OF RETURN %
Total assets 9,6 5,9
Shareholders equity 23,5 17,5
Pre tax margin % 7,1 4,1
Turnover rate 135,3 144,9
(x 1.000) (x 1.000)
-------------------- --------------------
Working capital 275.133 138.400
Shareholders equity + Equalization acc. 546.550 468.600
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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/normal. |
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%)