MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
CRUCELL HOLLAND B.V. |
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Registered Office : |
Archimedesweg 4 2333 CN LEIDEN |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01.06.1993 |
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Legal Form : |
BV Private Company Ltd. |
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Line of Business : |
The development of vaccins and anti-bodies for fighting
contageous diseases, including ebola, influenza, malaria and the west-nile
virus |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 500.000 |
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Status : |
Good |
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Payment Behaviour : |
Average 20 days beyond terms |
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Litigation : |
Clear |
name & address
Crucell Holland
B.V.
Archimedesweg 4
2333 CN LEIDEN
Tel.:+31
(0)71-5248701
Fax.:+31
(0)71-5428702
Legal status
BV Private Company Ltd. acc. nat. law
Founded
01/06/1993 as Ltd.
Trade register
28074607
Capital
Nominal EUR 5.000.000,--
Issued and paid up EUR 1.465.164,--
Management
-Crucell N.V.,
Archimedesweg 4, 2333 CN
LEIDEN
Activity
The development of vaccins and anti-bodies for fighting contageous diseases, including ebola, influenza, malaria and the west-nile virus.
Trade name
-Introgene
Staff
196 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 company of
-Crucell N.V.,
Archimedesweg 4, 2333 CN LEIDEN
Subsidiary[ies]:
-U. Bisys BV,
Heidelberglaan 100, 3584 CX UTRECHT
-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
A declaration of liability has been issued by
Crucell NV
Subsidairy:
Crucell Portugal Lda, Portugal
Website : www.crucell.com
Correspondence address:
Postbus 2048
2301 CA
LEIDEN
Banks
van Lanschot
ING Bank
Mode of payment
On average 20 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 :
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
Consolidated in 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
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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
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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%)