MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEXX EUROPE BV |
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Registered Office : |
Johan Huizingalaan 400, 1066 JS Amsterdam |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
13.03.1991 |
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Legal Form : |
BV Private Company Ltd.
Acc. Nat. Law |
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Line of Business : |
Wholesale Business in Men S, Women s and Children S Wear. |
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 : |
No Complaints |
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Litigation : |
Clear |
Name & address
Mexx Europe BV
Johan Huizingalaan
400
1066 JS AMSTERDAM
Tel.:+31
(0)20-5140000
Fax.:+31
(0)71-7107800
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
13/03/1991, Ltd. since 20/08/1991
Trade
register
28054067
Capital
nominal EUR 453.780,--
issued and paid up EUR 90.756,--
Management
Anurup Singh Pruthi,
born 24/09/1968,
G.J. Berghuis, born
09/04/1966,
Jeffrey Leonard
Fardell, born 27/09/1963,
Activity
Wholesale business
in men s, women s and children s wear.
Branch[es]
-Mexx Europe BV,
Industrieweg 15-C, 2254 AE VOORSCHOTEN
Trade
name
-Ussence Dist.
Staff
150 employees
Turnover
from the consolidated
balance sheet of Mexx Europe Holding BV
2006 Euro 924.386.000
2005 Euro 864.300.000
2004 Euro 783.527.000
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
-Mexx Holding Netherlands BV,
Johan Huizingalaan 400, 1066 JS AMSTERDAM
Ultimate parent company
-Mexx Europe Holding BV,
Johan Huizingalaan 400, 1066 JS AMSTERDAM .
The next financial data is extracted from the consolidated balance sheet
of 'Mexx Europe Holding BV'
Consolidated net result:
2006 Euro 36.738.000
2005 Euro 25.248.000
2004 Euro 7.064.000
The shareholders equity was as
of:
31/12/2006 Euro 155.740.000
31/12/2005 Euro 123.292.000
31/12/2004 Euro 95.863.000
The working capital was as of:
31/12/2006 Euro 144.658.000
31/12/2005 Euro 132.077.000
31/12/2004 Euro 106.922.000
A declaration of liability has been issued by
Mexx Europe Holding BV.
Website : www.mexx.nl
Banks
Rabobank, VOORSCHOTEN
Staal Bankiers, DEN HAAG
VAT-nr.
NL009430763B06
Mode
of payment
No complaints have been
registered
Credit
demand
No objections against entering
into a business relationship.
The
following financial data is retrieved from the consolidated balance sheet of
Mexx Europe Holding BV
Johan
Huizingalaan, 1066JS AMSTERDAM
Trade
register 28048657
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Mexx Europe Holding BV *** BALANCE SHEET ***
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 18.455 18.292
Tangible assets 132.920 123.689
Financial assets 177.365 202.437
Miscellaneous fixed assets 0 0
Total fixed
assets 328.740 344.418
Stock 109.665 105.873
Receivables 146.771 140.977
Shares 0 0
Liquid assets 32.351 33.543
Miscellaneous current assets 0 0
Total current
assets 288.787 280.393
Shareholders
equity 123.292 155.740
Provisions 5.944 4.140
Long-term liabilities 331.581 329.196
Current liabilities 156.710 135.735
Minority interests 0 0
Miscellaneous liabilities 0 0
Total
liabilities 617.527 624.811
PROFIT
& LOSS ACCOUNT
Mexx Europe Holding BV
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 864.300 924.386
Other income 0 0
Total expenses 808.883 882.605
Operating profit 55.417 41.781
Balance financial P/L -21.674 -22.225
Net profit/loss 1] 33.743 19.556
Taxation 8.495 -17.182
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 25.248 36.738
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 25.248 36.738
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
Mexx Europe Holding BV
-----2005----- -----2006-----
EQUITY
%
Equity gearing 20 24,9
Equity/outside capital 24,9 33,2
LIQUIDITY
Current ratio 1,8 2,1
Acid test 1,1 1,3
RATES OF RETURN %
Total assets 5,5 3,1
Shareholders
equity 27,4 12,6
Pre tax margin
% 3,9 2,1
Turnover rate 140 147,9
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 132.077 144.658
Shareholders
equity + Equalization acc. 123.292 155.740
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.49 |
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UK Pound |
1 |
Rs. 84.21 |
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Euro |
1 |
Rs. 66.33 |
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%)