MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
THERMPHOS INTERNATIONAL BV |
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Registered Office : |
Europaweg Zuid 0 Haven 9890
4389 PD Ritthem |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
25.07.1966 |
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Legal Form : |
BV Private Company
Limited |
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Line of Business : |
Manufacture
and Development of and Research, Wholesale Business in Phosphor, Phosphor
Acids, Phosphates and Derivates |
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
Thermphos
International BV
Europaweg Zuid
0 Haven 9890
4389 PD RITTHEM
Tel.:+31
(0)113-689500
Fax.:+31
(0)113-689501
Legal
status
BV Private Company Ltd.
acc. nat. law
Founded
25/07/1966, Ltd. since
01/07/1997
Trade
register
22040439
Capital
Nominal EUR 124.500.000,--
Issued and paid up EUR 24.957.900,--
Management
-Thermphos Holding
BV,
Europaweg Zuid 0 Haven 9890, 4389 PD
RITTHEM
Robert de Ruiter, born 29/06/1963,
Gasthuisstraat 7-A, 4461 JS GOES
Activity
Manufacture
and development of and research, wholesale business in phosphor, phosphor
acids, phosphates and derivates.
Staff
475 employees
Turnover
from the
consolidated balance sheet of Thermphos Holding BV
2007 Euro 488.485.000
2006 Euro 480.263.000
2005 Euro 476.859.000
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
-Thermphos
Holding BV,
Europaweg
Zuid 0 Haven 9890, 4389 PD RITTHEM
Subsidiary[ies]:
-Industrial
Park Vlissingen BV,
Europaweg
Zuid 0 Haven 9890, 4389 PD RITTHEM
The next
financial data is extracted
from the
consolidated balance sheet of
'Thermphos
Holding BV'
Consolidated
net result:
2007 Euro 175.000
2006 Euro 27.695.000
2005 Euro 41.190.000
The
shareholders equity was as of:
31/12/2007 Euro 109.661.000
31/12/2006 Euro 112.196.000
31/12/2005 Euro 85.349.000
The working
capital was as of:
31/12/2007 Euro 38.616.000
31/12/2006 Euro 31.355.000
31/12/2005 Euro 24.301.000
A
declaration of liability has been issued by
Thermphos
Holding BV.
Import :
Jordan, the USA, Russia and Europe
Export :
worldwide
Correspondence
address:
Postbus 406
4380 AK VLISSINGEN
Website : www.thermphos.com
Banks
ABN-AMRO NV, VLISSINGEN,
46.58.65.720
VAT-nr.
NL808430464B02
Mode
of payment
On average 15 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the consolidated balance sheet of :
Thermphos Holding BV
BALANCE
SHEET
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2006--- ------31-12-2007---
Intangible assets 6.085 28.330
Tangible assets 109.194 120.923
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed assets 115.279 149.253
Stock 59.729 72.595
Receivables 82.376 91.217
Shares 0 0
Liquid assets 550 2.198
Miscellaneous current assets 0 0
Total current assets 142.655 166.010
Shareholders
equity 112.196 109.661
Provisions 22.626 23.698
Long-term liabilities 2.500 46.750
Current liabilities 111.300 127.394
Minority interests 0 0
Miscellaneous
liabilities 9.312 7.760
Total liabilities 257.934 315.263
PROFIT
& LOSS ACCOUNT
Consolidated in Euro(x
1.000) Euro(x 1.000)
---31-12-2006--- ------31-12-2007---
Turnover 480.263 488.485
Other income 0 0
Total expenses 438.875 485.056
Operating profit 33.933 1.833
Balance financial P/L -4.293 -4.186
Net profit/loss 1] 29.640 -2.353
Taxation 1.945 -2.528
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 27.695 175
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 27.695 175
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2006----- -----2007-----
EQUITY
%
Equity gearing 43,5 34,8
Equity/outside capital 77 53,3
LIQUIDITY
Current ratio 1,3 1,3
Acid test 0,7 0,7
RATES OF RETURN %
Total assets 11,5 -0,7
Shareholders
equity 26,4 -2,1
Pre tax margin
% 6,2 -0,5
Turnover rate 186,2 154,9
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 31.355 38.616
Shareholders
equity + Equalization acc. 112.196 109.661
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)