MIRA
INFORM REPORT
|
Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CRUCELL N V |
|
|
|
|
Registered Office : |
Archimedesweg 4, 2333 CN Leiden |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31/12/2006 |
|
|
|
|
Date of Incorporation : |
09/10/2000 |
|
|
|
|
Legal Form : |
NV Public Limited Company |
|
|
|
|
Line of Business : |
Holding and financing
business |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Name & ADDress
Crucell N.V.
Archimedesweg 4
2333 CN
LEIDEN
Tel.:+31 (0)71-5282741
Legal status
NV Public limited company [nat. law]
Founded
09/10/2000 as P.l.c.
Trade register
28087740
Capital
nominal EUR 40.800.000,--
issued and paid up EUR 15.415.122,--
Management
L. Kruimer, born 24/07/1958, Plaswijk 30, 3645 AV VINKEVEEN JAAP GOUDSMIT, born 22/01/1951, KONINGINNEWEG 4, 1075 CX AMSTERDAM RONALD H.P. BRUS, born 26/05/1963, LEIDSEWEG 193, 2253 AD VOORSCHOTEN
Commissioner
CLAES-ERIK WILHELMSSON, born 24/03/1939, SWEDEN SEAN P. LANCE, born 04/08/1947, USA ARNOLDUS H.A. HOEVENAARS, born
02/04/1949, BOSWEG 90A, 7313 CD APELDOORN JAN P. OOSTERVELD, born 12/03/1944,
JAVALAAN 107, 5631 DB EINDHOVEN DOMINIK
S. KOECHLIN, born 18/03/1959, SCHWEIZ
PHILLIP SATOW, born 07/06/1941, USA
Activity
Holding and
financing business.
Staff
No other employees
Turnover
from the
consolidated balance sheet of Crucell N.V.
2006 Euro 131.567.000
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[ies]:
-Crucell Holland BV,
Archimedesweg 4, 2333 CN LEIDEN
-Chromagenics BV,
Archimedesweg 4, 2333 CN LEIDEN
The next financial data is extracted from the consolidated balance sheet
of 'Crucell N.V. '
Consolidated net result:
2006 Euro (87.565.000)
2005 Euro (15.578.000)
2004 Euro (19.635.000)
The shareholders equity was as
of:
31/12/2006 Euro 497.300.000
31/12/2005 Euro 137.609.000
31/12/2004 Euro 88.441.000
The working capital was as of:
31/12/2006 Euro 226.819.000
31/12/2005 Euro 108.290.000
31/12/2004 Euro 73.632.000
Subsidiaries:
SBL VACCIN AB, (100%) SZweden
BERNA BIOTECH AG, (099%)
Switzerland
Website : www.crucell.com
Subsidiaries are engaged in the develompment,
testing, upscaling and exploitation of gen therapy.
Correspondence address:
Postbus 2048
2301 CA LEIDEN
Subject matter is listed on the AEX stock Exchange in Amsterdam.
Banks
ING Bank
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 : Crucell N.V.
BALANCE
SHEET
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ----31-12-2006---
Intangible assets 2.577 160.496
Tangible assets 24.629 138.018
Financial assets 11.493 37.630
Miscellaneous fixed assets 0 0
Total fixed
assets 38.699 336.144
Stock 0 75.519
Receivables 0 83.715
Shares 0 0
Liquid assets 0 157.837
Miscellaneous current assets 0 0
Total current
assets 131.038 317.071
Shareholders
equity 137.609 497.300
Provisions 0 5.132
Long-term liabilities 9.380 60.531
Current liabilities 22.748 90.252
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 169.737 653.215
PROFIT
& LOSS ACCOUNT
Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 0 131.567
Other income 0 9.356
Total expenses 54.893 238.830
Operating profit -21.461 -97.907
Balance financial P/L 6.338 1.747
Net profit/loss 1] -15.123 -96.160
Taxation 0 -10.551
Share in P/L of subsidiaries -455 -1.956
Net profit/loss 2] -15.578 -87.565
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 -15.578 -87.565
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 81,1 76,1
Equity/outside capital 428,3 319
LIQUIDITY
Current ratio 5,8 3,5
Acid test 5,8 2,7
RATES OF RETURN %
Total assets -8,9 -14,7
Shareholders
equity -11 -19,3
Pre tax margin
% 0 -73,1
Turnover rate 0 20,1
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 108.290 226.819
Shareholders
equity + Equalization acc. 137.609 497.300
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)