MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEIJN
FOOD PROCESSING TECHNOLOGY B.V. |
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Registered Office : |
Noordeinde 68 1511 AE Oostzaan |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01.01.1959 |
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Legal Form : |
BV Private Company Ltd |
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Line of Business : |
Design and Manufacture
of, Trade in Slaughter Machines
and Installations as well as Machines and Installations
for the Alimentary Industry. |
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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by 10 days |
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Litigation : |
Clear |
name & address
Meijn Food Processing Technology B.V.
Noordeinde 68
1511 AE OOSTZAAN
Tel.:+31
(0)75-6843355
Fax.:+31
(0)75-6844150
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
01/01/1959, Ltd. since
13/08/1979
Trade
register
35015165
Capital
Nominal EUR 230.000,--
Issued and paid up EUR 46.000,--
Management
-Meijn Beheer BV,
Noordeinde 68, 1511 AE
OOSTZAAN
H. vd Broek, born 18/12/1955, Kokkeveld 1,
3862 RR NIJKERK GLD
H.H.J. Defauwes, born 19/04/1964, Sijzenlaan
38, 2566 WJ DEN HAAG
Activity
Design and manufacture of,
trade in slaughter machines
and installations as well as machines and installations for the alimentary
industry.
Trade name:
-Meijn
Rendering
-Meijn
Refrigeration
-Meijn
Turkey and Duck Processing
-Meyn
Poultry Processing Solutions
-Meyn Food
Processing Technology
-Meyn
Refrigeration
-Meyn Turkey and Duck Processing
-Meyn Rendering
Staff
446 employees
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
-Meijn Beheer BV,
Noordeinde 68, 1511 AE OOSTZAAN
Continuation
of the activities of
-Meijn BV,
Noordeinde 68, 1511 AE OOSTZAAN
Website : www.meyn.nl
Import : Belgium,
France, Germany, the UK
Export :
worldwide
Correspondence
address:
Postbus 16
1510
AA OOSTZAAN
Subject
matter continues as per 30.05.2008 the operations of
Meijn BV,
which has been dissolved by now.
Meijn
Beheer BV filed a declaration of liability effective 05.07.2007;
Meijn
Beheer BV did not yet file accounts. Prior to this did
Meijn
Holding BV file a declaration of liability for subject matter;
for
completeness sake we include those accounts.
Banks
ABN-AMRO NV
Mode
of payment
On average 10 days
beyond terms.
Credit
demand
No objections
against entering into a business relationship.
With regard to the
above mentioned information, we recommend you to follow the course of business.
The following financial
data is retrieved from the consolidated balance sheet of :
Meyn Holding B.V.
BALANCE
SHEET
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 71.700 70.202
Tangible assets 16.557 26.240
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed assets 88.257 96.442
Stock 13.685 21.862
Receivables 34.614 42.959
Shares 0 0
Liquid assets 3.758 12.887
Miscellaneous current assets 0 0
Total current assets 52.057 77.708
Shareholders equity 7.804 12.497
Provisions 4.393 6.638
Long-term liabilities 47.118 94.090
Current liabilities 80.999 60.925
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 140.314 174.150
PROFIT
& LOSS ACCOUNT
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 89.524 180.851
Other income 0 0
Total expenses 88.239 141.690
Operating profit 1.943 39.366
Balance financial P/L -4.551 -25.847
Net profit/loss 1] -2.608 13.519
Taxation -242 2.337
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -2.366 11.182
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 -2.366 11.182
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 5,6 7,2
Equity/outside capital 5,9 7,7
LIQUIDITY
Current ratio 0,6 1,3
Acid test 0,5 0,9
RATES OF RETURN %
Total assets -1,9 7,8
Shareholders
equity -33,4 108,2
Pre tax margin
% -2,9 7,5
Turnover rate 63,8 103,8
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital -28.942 16.783
Shareholders
equity + Equalization acc. 7.804 12.497
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%)