MIRA
INFORM REPORT
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Report Date : |
27.11.2008 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Coenhavenweg 2 1013 BL |
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Country : |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
29.03.1967 |
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Legal Form : |
BV Private Company
Limited |
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Line of Business : |
Plant
for, Trade in, Storage and Distribution of Cereals, Oils, Cattle Fodder Raw Materials,
Cacoa, Fruit Juices, Synthetic Fertilizers and Other Trade Goods; Holding
Company. |
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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Maximum Credit Limit : |
EUR 500.000 |
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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
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Coenhavenweg 2 |
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1013 BL |
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Tel.:+31
(0)20-5801911 |
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Fax.:+31
(0)20-5801193 |
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
29/03/1967, Ltd. since
20/09/1972
Trade
register
331196220000
Capital
Nominal EUR 136.110.000,--
Issued and paid up EUR 29.835.312,--
Management
Paul Louis Naar,
born 26/07/1952,
Cornelis Bernardus
Kriens, born 18/01/1949,
Commissioner
Jan Roberto
Freeriks, born 03/03/1954,
Jacobus A.J.Vink,
born 30/05/1947,
Abraham Cornelis
Klaeijsen, born 24/04/1952,
Jacob Draijer, born
07/04/1945,
Activity
Plant for,
trade in, storage and distribution of cereals, oils, cattle fodder raw
materials, cacoa, fruit juices, synthetic fertilizers and other trade goods;
holding company.
Branch[es]:
-Cargill B.V,
Lelyweg 31 , 4612 PS
-Cargill B.V,
Oceanenweg 19 , 1047 BA
-Cargill B.V,
Capriweg 4 , 1044
-Cargill B.V,
Welplaatweg 34 , 3197 KS BOTLEK
-Cargill B.V,
Breden Ars
5 , 6071 LC SWALMEN
-Cargill
B.V,
Jan van Galenstraat 4Koningshaven , 3115 JG
-Cargill BV,
Kalf 11, 1509
AA ZAANDAM
-Cargill BV,
Symon Spiersweg
22, 1506 RZ ZAANDAM
-Cargill BV,
Bremenweg 21-23, 7418
EJ DEVENTER
-Cargill BV,
Coenhavenweg 3,
1013 BK AMSTERDAM
-Cargill
BV,
Oostzijde
321, 1508 EN
+ 3 other
branchoffice[s].
Trade name:
-Cargill
Sugar
-Cargill
Cocoa
-Cargill
Cocoa Laboratory
-Cargill
Cocoa & Chocolate
-Cargill
Chocolate Products
-Gerkens
Cacao
-Fennema
-IGMA
-IGMA Bulk
Terminal
-IGMA Grain
Terminal
-IGMA
Parcel Service
-IPS
-IGMA
Vlothaven Storage Terminal
-IGMA VST
-Cargill
Shipping Agencies
-ZOR
-Zaanlandse Olieraffinaderij
-Cargill Texturizing Solutions
-Cargill Benelux
Staff
1.506 employees
Turnover
from the
consolidated balance sheet of Cargill B.V
2007 Euro 4.219.653.000
2006 Euro 3.772.353.000
2005 Euro 3.586.279.000
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]:
-
Hanzeweg 7, 7591 BK DENEKAMP
-
Coenhavenweg
2, 1013 BL
-Instant
Coenhavenweg 2, 1013 BL
-Breber Holding B.V.,
Coenhavenweg 2, 1013 BL
-Cargill Benelux B.V.,
Coenhavenweg 2, 1013 BL
Continuation
of the activities of
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Veerdijk 82, 1531 MA WORMER
-Fennema BV,
Bremenweg 21, 7418 EJ
-Internationale Graanoverslag Maatschappij
Coenhavenweg 3, 1013 BK
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Kalf 11, 1509 AA
-Degussa Texturant
Symon Spiersweg 22, 1506 RZ
The next
financial data is extracted
from the
consolidated balance sheet of
'
Consolidated
net result:
2007 Euro 47.995.000
2006 Euro 71.090.000
2005 Euro 55.962.000
The
shareholders equity was as of:
31/05/2007 Euro 489.859.000
31/5/2006 Euro 439.976.000
31/05/2005 Euro 380.594.000
The working
capital was as of:
31/05/2007 Euro 239.161.000
31/5/2006 Euro 222.149.000
31/05/2005 Euro 177.862.000
General website: www.cargill.nl
On 01.08.2007 did subject matter acquire and absorb:
Fennema B.V., reg. nr. 38016106
Zaanlandse Olieraffinaderij B.V., reg. nr. 35003883
Gerkens Cacao B.V., reg. nr. 35005253
Cargill
Texturizing Solutions
Correspondence
address:
Postbus
8074
1005 AB
Banks
Fortis Bank,
ABN-AMRO Bank NV
Bank of
VAT-nr.
NL008607497B01
Mode
of payment
On average 15 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 of :
BALANCE
SHEET
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-05-2006--- ------31-05-2007---
Intangible assets 4.872 48.287
Tangible assets 351.648 367.757
Financial assets 52.757 44.159
Miscellaneous fixed assets 0 0
Total fixed assets 409.277 460.203
Stock 524.047 684.186
Receivables 394.596 649.695
Shares 0 0
Liquid assets 4.588 3.610
Miscellaneous current assets 10.383 14.257
Total current assets 933.614 1.351.748
Shareholders
equity 439.976 489.859
Provisions 73.941 93.344
Long-term liabilities 117.509 116.161
Current liabilities 711.465 1.112.587
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 1.342.891 1.811.951
PROFIT
& LOSS ACCOUNT
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-05-2006--- ------31-05-2007---
Turnover 3.772.353 4.219.653
Other income 0 0
Total expenses 3.644.459 4.126.143
Operating profit
127.894 93.510
Balance financial P/L -23.625 -27.405
Net profit/loss 1] 104.269 66.105
Taxation 33.179 18.194
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 71.090 47.911
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2] 0 0
Res. sub. companies 2] 0 0
Minority interests 0 -84
Miscellaneous P/L 0 0
Net result 71.090 47.995
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 32,8 27
Equity/outside capital 48,7 37,1
LIQUIDITY
Current ratio 1,3 1,2
Acid test 0,6 0,6
RATES OF RETURN %
Total assets 7,8 3,6
Shareholders
equity 23,7 13,5
Pre tax margin
% 2,8 1,6
Turnover rate 280,9 232,9
(x
1.000) (x 1.000)
--------------------
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Working capital 222.149 239.161
Shareholders
equity + Equalization acc. 439.976 489.859
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)