MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
FONTIJNE GROTNES B.V. |
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Registered Office : |
Industrieweg 213133 EE
Vlaardingen |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
19.12.1986 |
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Legal Form : |
BV Private Company
Limited |
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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 : |
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 : |
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
Fred Jan Weggen,
born 22/12/1961, Oranje Nassaulaan 14, 2051 HP OVERVEEN
Commissioner
Andries Fontijne,
born 01/03/1939, Abelendreef 7, 3137 CA VLAARDINGEN
Jan Willem
Sodderland, born 18/02/1942, Duindistel 89, 2202 DE NOORDWIJK ZH
Johan Adriaan Pijnappels, born 24/09/1937,
Breeveld 9, 3645 VN VINKEVEEN
Activity
Design and
manufacture of custom machinery solutions for the expanding, coiling, rotary
roll forming and
welding of cylindrical metal parts.
Staff
104 employees
Turnover
from the
consolidated balance sheet of Fontijne Grotnes B.V.
2006 Euro 27.403.170
2005 Euro 12.187.917
2004 Euro 15.942.736
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
-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:
2006 Euro 978.592
2005 Euro (1.798.223)
2004 Euro (1.841.363)
The
shareholders equity was as of:
31/12/2006 Euro 1.272.652
31/12/2005 Euro 309.672
31/12/2004 Euro 12.124
The working
capital was as of:
31/12/2006 Euro (211.241)
31/12/2005 Euro (1.804.136)
31/12/2004 Euro (1.844.423)
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.
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.
The following financial data is retrieved from
the consolidated balance sheet of :
Fontijne Grotnes B.V.
BALANCE SHEET
Consolidated in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 720.667 643.799
Tangible assets 1.959.815 1.511.842
Financial assets 444.133 457.720
Miscellaneous
fixed assets 0 0
Total fixed assets 3.124.615 2.613.361
Stock 0 806.250
Receivables 7.654.112 6.587.893
Shares 0 0
Liquid assets 22.176 253.549
Miscellaneous current assets 0 0
Total current assets 7.676.288 7.647.692
Shareholders
equity 309.672 1.272.652
Provisions 710.462 1.129.468
Long-term liabilities 0 0
Current liabilities 9.480.424 7.858.933
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 10.500.558 10.261.053
PROFIT
& LOSS ACCOUNT
Consolidated in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 12.187.917 27.403.170
Other income 0 0
Total expenses 14.306.782 26.166.721
Operating profit -2.118.865 1.236.449
Balance financial P/L -262.483 -92.288
Net profit/loss 1] -2.381.347 1.144.161
Taxation -583.124 165.569
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -1.798.223 978.592
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 -1.798.223 978.592
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 2,9 12,4
Equity/outside capital 3 14,2
LIQUIDITY
Current ratio 0,8 1
Acid test 0,8 0,9
RATES OF RETURN %
Total assets -22 11,2
Shareholders
equity -769 89,9
Pre tax margin
% -19,5 4,2
Turnover rate 112,8 267,1
(x
1) (x 1)
-------------------- --------------------
Working capital -1.804.136 -211.241
Shareholders
equity + Equalization acc. 309.672 1.272.652
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%)