MIRA INFORM REPORT

 

 

Report Date :

23.02.2011

 

IDENTIFICATION DETAILS

 

Name :

EMULSION HOLLAND B.V.

 

 

Registered Office :

Industrieweg 21, 4301RS Zierikzee

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

24.05.1950

 

 

Com. Reg. No.:

22009984

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturing and trading of emulsifiers, dispersing and split products of fats and oils and related products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

€ 400.000

Status :

Satisfactory

Payment Behaviour :

Regular

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Netherlands

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

CONTACTINFORMATION    

 

Company name

Emulsion Holland B.V.

Tradename

Emulsion Holland B.V.

Address

Industrieweg 21

 

4301RS Zierikzee

 

Netherlands

Mail address

Industrieweg 21

 

4301RS Zierikzee

 

Netherlands

Telephone number

0111413316

Telefax number

0111416435

E-mail address

info@emulsion-holland.com

Website

www.emulsionholland.com

 

 

CREDIT LIMIT

 

A credit of € 400.000 may be granted Normal

 

 

COMPANY INFORMATION

 

Handelsregisternummer

22009984

Registered in

Chamber of commerce

Zuidwest-Netherlands

Act of foundation

 

24-05-1950

 

Date of constitution

24-05-1950

Continuation date

20-11-1972

Last change in statutes

30-03-2001

Legal form

Besloten Vennootschap (Limited Company)

Place of constitution

Zierikzee

Capital

EUR 600.000

Issued capital

EUR 150.000

Paid up capital

EUR 150.000

 

 

NACE-code                               Manufacture of other food products n.e.c. (1589)

SBI-code                                   Manufacture of other food products n.e.c. (1089)

Formal objective                         Fabricage van en handel in emulgatoren, dispergatoren en splitsingsprodukten van vetten en olien en aanverwante artikelen

 

(Manufacturing and trading of emulsifiers, dispersing and split products of fats and oils and related products)

 

Employees

Total: 16

 

 

 

Bookyear

 

2009

2008

2007

Number

 

16

15

12

Change

 

6,67%

25,00%

0,00%

 

Bankers

ABN Amro Bankers NV

 

ING Bankers NV

 

Rabobank Netherlands

 

Postbank NV

 

Rabo Netherlands

 

 

MANAGEMENT   

 

Management                          P.T.M.M. Verschuren

                                             Petrus Theodorus Mathijs Maria

                                             Authorization: Fully authorized

                                             Position: Manager

                                             Date appointed: 01-11-2007

                                             Date of birth: 25-02-1950

 

                                             B. Brix

                                             Birger

                                             Position: Commissaris

                                             Date appointed: 30-03-2001

                                                Date of birth: 13-04-1953

 

        H.J. Doeleman Herman Johan

        Position: Commissaris

        Date appointed: 30-03-2001

        Date of birth: 18-05-1941

P. Schotte Pieter

Position: Commissaris

Date appointed: 30-03-2001

Date of birth: 02-10-1940

 

J. Thisen Jakob

Position: Commissaris

Date appointed: 01-01-2005

Date of birth: 27-04-1964

 

E. Ponsen Erik

Authorization: Limited authorization

Position: Proxy

Date appointed: 03-12-2007

Date of birth: 23-06-1963

 

 

PAYMENT INFORMATION

 

Payment experiences                 Payments are regular, no complaints are known

 

Payments                                 Based on multiple payment experiences up to € 7.500

 

Quarter: 2 2010: 40 Average days

Quarter: 3 2010: 39 Average days

Quarter: 4 2010: 40 Average days

Quarter: 1 2011: 36 Average days

 

 

invoices

current quarter

2010

Q4

2010 Q3

2010 Q2

Total

45

100%

15.307

18.129

18.674

18.144

Within terms

34

83,6%

12.794

13.683

14.927

13.505

Delayed 0 - 30

10

16,4%

2.513

4.446

2.127

4.639

Delayed 31 - 60

1

0,0%

 

 

1.620

 

Delayed 61 - 90

 

Delayed 91 - 120

 

 

Delayed 120+ days

 

 

 

 

 

FINANCIAL INFORMATION

 

Dividend last book year

1.500.000

Stijging/daling turnover

-12.80%

 

declined

Auditor

Deloitte Accountants B.V.

Auditor's report

According to the auditor, the annual account gives a faithful

 

description of the size and composition of the company.

Publication financial statement

Annual accounts 2009 are published on 11-01-2011

 

Annual accounts 2008 are published on 19-01-2010

 

Annual accounts 2007 are published on 03-07-2008

Type of publication

Consolidated

Annual accounts van

Emulsion Holland B.V.

 

Industrieweg 21

 

4301RS Zierikzee

 

KvK: 22009984

Publication

Publication according to obligations by law

 

CORE FIGURES

 

BOOKYEAR

2009

2008

2007

Quick ratio

2,11

2,13

4,62

Current ratio

2,91

2,96

6,35

Nett workingcapital / Balance

0,31

0,33

0,41

total

 

 

 

Capital and reserves / Balance

0,80

0,78

0,81

total

 

 

 

Capital and reserves / Fixed

1,52

1,56

1,56

assets

 

 

 

Solvency

4,93

4,66

8,08

Nett workingcapital

3.016.945

3.377.807

4.245.000

Capital and reserves

7.782.073

8.026.545

8.438.000

Change capital and reserves

-3,05%

-4,88%

5,32%

change short term liabilities

-8,33%

116,78%

-35,71%

Operating profit

2.485.868

3.243.874

2.814.000

Profitability

Positive

 

positive

positive

 

Annual accounts                                    The company is obligated to publish its annual accounts

           

Last annual accounts                             2009

 

Type of publication         Consolidated

 

Gross profit                   2007: 3.287.000

2006: 3.342.000

2005: 2.816.000

 

 

Operating profit              2007: 2.814.000

2006: 2.957.000

2005: 2.392.000

           

Result after taxes           2007: 2.090.000

2006: 2.105.000

2005: 1.622.000

 

Tendency                      Declining

 

 

Capital and Reserves                  2009 7.782.073

Total Debt                                 2009 1.947.810

Current Ratio                             2009 2,91

Quick Ratio                               2009 2,11

Nett Working Capital                  2009 3.016.945

 

Profitability                                Positive

Solvency                                   Positive

Liquidity                                    Positive

 

 

 

 

 

 

 

 

 

Current & Quick Ratio

 

 

BALANCE sheet

Currency: Euro

BOOKYEAR

2009

2008

2007

End of bookyear

31-12-2009

31-12-2008

31-12-2007

Land and buildings

3.292.842

3.435.462

 

Machinery

1.780.405

1.516.369

 

Other tangible assets

61.795

177.161

 

Tangible assets

5.135.042

5.128.992

5.400.000

Fixed assets

5.135.042

5.128.992

5.400.000

 

Stocks and work in progress

1.261.325

1.440.800

1.372.000

Trade debtors

671.655

847.870

 

Due from related parties

407.225

241.054

 

Other amounts receivable

373.818

226.753

 

Accounts receivable

1.452.698

1.315.677

1.543.000

Liquid assets

1.880.818

2.342.569

2.123.000

Current assets

4.594.841

5.099.046

5.039.000

Total assets

9.729.883

10.228.038

10.439.000

 

Capital and reserves

7.782.073

8.026.545

8.438.000

Provisions

369.914

480.254

957.000

other long term debts

 

 

250.000

Long term liabilities

 

 

250.000

Other short term debts

1.577.896

1.721.239

794.000

Total short term debt

1.577.896

1.721.239

794.000

Total debt

1.947.810

2.201.493

2.001.000

Total Liabilities

9.729.883

10.228.038

10.439.000

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2009

2008

2007

Gross profit

3.084.915

3.884.323

3.287.000

Other operating income

44.129

35.382

 

Sales costs

334.757

376.822

 

Other operating charges

308.419

299.009

473.000

Operating charges

643.176

675.831

473.000

Operating profit

2.485.868

3.243.874

2.814.000

Financial income

72.629

105.387

71.000

Financial charges

41.292

11.420

43.000

Financial result

31.337

93.967

28.000

Result before taxes

2.517.205

3.337.841

2.842.000

Income taxes

643.932

857.486

752.000

Result after taxes

1.873.273

2.480.355

2.090.000

Nett result

1.873.273

2.480.355

2.090.000

 

 

COMPANY STRUCTURE

 

Emulsion Holland B.V.

(22009984) Zierikzee

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.07

Euro

1

Rs.61.41

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.