MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Fontijne Grotnes B.V. |
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Registered Office : |
Industrieweg 21, 3133 Ee Vlaardingen |
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Country : |
The Netherlands |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
19/09/1972 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Design and manufacture of custom machinery
solutions for the expanding, coiling, rotary roll forming and welding of
cylindrical metal parts. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 5.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Average 15 days beyond terms |
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Litigation : |
Clear |
NAME & ADDRESS
Fontijne Grotnes B.V.
Industrieweg 21
3133 EE VLAARDINGEN
Tel.:+31 (0)10-4348233
Fax.:+31 (0)10-4352655
Legal status
BV Private Company Ltd. acc. nat. law
Founded
19/12/1986, Ltd. since 19/09/1972
Trade register
24200051
Capital
nominal EUR 1.125.000,--
issued and paid up EUR 450.000,--
Management
Andries Fontijne, born 01/03/1939,
Abelendreef 7, VLAARDINGEN
Fred Jan Weggen, born 22/12/1961, Oranje
Nassaulaan 14, OVERVEEN
Commissioner
Jan Willem Sodderland, born 18/02/1942,
Duindistel 89, NOORDWIJK ZH
Johan Adriaan Pijnappels, born 24/09/1937,
Breeveld 9, VINKEVEEN
Activity
Design and manufacture of custom machinery
solutions for the expanding, coiling, rotary roll forming and welding
of cylindrical metal parts.
Staff
110 employees
from the consolidated balance sheet of
Fontijne Grotnes B.V.
2004
Euro 15.942.736
2003
Euro 20.456.180
2002
Euro 23.360.224
Real estate
The business premises at the mentioned address
has been rented by the company, as far as we know.
See balance sheet
The last available balance sheet is
attached.
A more recent balance sheet is not
available.
Remarks
Subsidiary company of
-A. Fontijne Beheer BV,
Industrieweg 21, 3133 EE VLAARDINGEN
Previous name of the company:
-Fontijne Holland BV
The next financial data is extracted
from the consolidated balance sheet of
'Fontijne Grotnes B.V. '
Consolidated net result:
2004 Euro (1.841.363)
2003 Euro (2.784.800)
2002 Euro 598.082
The shareholders equity was as of:
31/12/2004 Euro 12.124
31/12/2003 Euro (2.169.498)
31/12/2002 Euro 597.432
The working capital was as of:
31/12/2004 Euro (1.844.423)
31/12/2003 Euro (1.380.870)
31/12/2002 Euro 415.834
Subject matter has been eating into the shareholders equity.
Website : www.fontijnegrotnes.com
Email: info@fontijnegrotnes.com
Correspondence address:
PO box 149
3031 AC Vlaardingen
Subsidaries:
Fontijne Grotnes Inc., 1025 West Thorndale Avenue, Itasca IL 60143-1365 USA
Fontijne Grotnes Japan, 1-13-10 Hatchobori, Chuo-Ku, Tokyo 104-0032 Japan.
Despite of legal obligation subject matter did not file the balance sheet on 2005 yet. No declaration of liability has been filed for subject matter
Banks
ABN-AMRO NV, Rotterdam
VAT-nr.
NL008286164B02
Mode of payment
On average 15 days beyond terms.
Credit demand
No objections against entering into a business relationship.
In view of the financial situation, we recommend you to follow the company s future developments. A maximum credit limit of EUR 5.000 is advised
The following financial data is retrieved from the consolidated balance sheet of :
Fontijne Grotnes B.V.
Industrieweg 21, 3133 EE VLAARDINGEN
Trade register 24200051
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Fontijne Grotnes
B.V. *** BALANCE SHEET ***
Consolidated in Euro(x 1) Euro(x 1)
---31-12-2003--- ------31-12-2004---
Intangible assets 874.401 797.533
Tangible assets 1.520.745 1.206.323
Financial assets 427.626 384.742
Miscellaneous fixed
assets 0 0
Total fixed assets 2.822.772 2.388.598
Stock 0 -1.856.099
Receivables 5.337.662 11.534.689
Shares 0 0
Liquid assets 114.359 74.998
Miscellaneous
current assets 0 0
Total current assets 5.452.021 9.753.588
Shareholders equity -2.169.498 12.124
Provisions 611.400 532.051
Long-term
liabilities 3.000.000 0
Current liabilities 6.832.891 11.598.011
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 8.274.793 12.142.186
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Fontijne Grotnes
B.V. *** PROFIT & LOSS ACCOUNT
***
Consolidated in Euro(x 1) Euro(x 1)
---31-12-2003--- ------31-12-2004---
Turnover 20.456.180 15.942.736
Other income 0 0
Total expenses 24.300.277 18.328.213
Operating profit -3.844.097 -2.385.477
Balance financial
P/L -454.045 -423.227
Net profit/loss 1] -4.298.142 -2.808.704
Taxation -1.513.342 -967.341
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] -2.784.800 -1.841.363
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 -2.784.800 -1.841.363
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Legend : 1] = Before tax
2] = After
tax
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Fontijne Grotnes
B.V. *** FINANCIAL RATIOS ***
-----2003----- -----2004-----
EQUITY %
Equity gearing -26,2 0,1
Equity/outside
capital -20,8 0,1
LIQUIDITY
Current ratio 0,8 0,8
Acid test 0,8 1
RATES OF RETURN %
Total assets -51,9 -23,1
Shareholders equity 198,1 166,5
Pre tax margin % -21 -17,6
Turnover rate 247,2 131,3
(x 1) (x 1)
-------------------- --------------------
Working capital -1.380.870 -1.844.423
Shareholders equity + Equalization acc. -2.169.498 12.124
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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%)