MIRA INFORM REPORT

 

 

Report Date :

05.01.2011

 

IDENTIFICATION DETAILS

 

Name :

tnt fashion group b.v.

 

 

Registered Office :

Eekboerstraat 25 7575AVOldenzaal

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

27.01.1982

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Land Transport, Transport Via Pipelines, Other transport by road

 

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 :

€ 500.000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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               TNT Fashion Group B.V. Trade name                            TNT Fashion Group B.V.

                                                          General Advies-, Bemiddelings- en

                                                         Incassobureau Alcas

 

 

Address                                   Eekboerstraat 25

                                                       7575AVOldenzaal

                                                        Netherlands

 

Mail address                          Eekboerstraat 25

7575AV Oldenzaal

Netherlands

 

 

Telephone number                                                           0541581000

 

Telefax number                    0541512287

 

E-mail address                     info@tntfashion.com

 

Website                              www.tntfashion.com

 

Branch(es)                                                                 20 branches

 

 

CREDIT LIMIT

 

Credit limit                                       A credit of € 500.000 may be granted

 

 

 

COMPANY INFORMATION

 

Handelsregisternummer                   06078339

 

Registered in                                   Chamber of commerce Oost Netherlands

 

 

Act of foundation                              27-01-1982

 

Date of constitution                          27-01-1982

 

Last change in statutes                    31-12-2003

 

 

Legal form                                       Limited Company

 

 

Place of constitution                        Oldenzaal

 

 

Capital                                            EUR 27.000.000

 

Issued capital                                  EUR 12.335.625

 

Paid up capital                                 EUR 12.335.625

 

 

Objective                                         LAND TRANSPORT; TRANSPORT VIA PIPELINES (60) Other transport by road (602423)

Formal objective                                     The (do) exercise of (international) transport and forwarding, as well as (do) exercise the international storage and warehousing and transhipment, to (help) transportation of express freight and documents from door - door logistics contract management and physical distribution, as well as holding and financing Mediation in the insurance being. Advice, mediation and collection

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Read phonetically

 

Dictionary - View detailed dictionary

 

 

Employees                                                                                          Total: 498

 

 

Bookyear                               2008                              2007                               2006

Number                                   498                                  491                                 497

 

Change                                   1,43%                                                                                                       -1,21%                                                            -1,58%

 

 

 

COMPANY STRUCTURE

 

Shareholder                                 TNT Express Worldwide N.V

KvK: 33229886

Percentage: 100.00%

 

 

TNT Head Office B.V. Neptunusstraat 41

2132JA Hoofddorp

Netherlands

KvK: 33304430

Active since: 20-12-2010

Percentage: 100.00%

 

Ultimate parent company            TNT N.V.

                                                Neptunusstraat 41-63

                                                2132JA Hoofddorp

                                                KvK: 27168968

 

 

Holding company                 TNT Express Worldwide N.V

                                                KvK: 33229886

 

 

Affiliated companies             TNT Express Road Network B.V.

                                                Express 1

                                                6921RB Duiven

                                                KvK: 09080344

 

 

TNT Skypak International (Netherlands) BV Neptunusstraat 41 63

2132JA HOOFDDORP KvK: 09087268

 

TNT Transport International B.V. Neptunusstraat 41

2132JA HOOFDDORP KvK: 24126249

 

TNT Innight B.V. De Liesbosch 90

3439LC NIEUWEGEIN KvK: 30080019

 

Easymall B.V. Neptunusstraat 41

2132JA HOOFDDORP KvK: 32062765

 

TNT Express Properties (Stuttgart) B.V. Neptunusstraat 41

2132JA HOOFDDORP KvK: 33186455

 

TNT Express Properties (Munchen) B.V. Neptunusstraat 41

2132JA HOOFDDORP KvK: 33186456

 

TNT Express Insurance B.V. Neptunusstraat 41 2132JA HOOFDDORP

KvK: 33242180

 

TNT Express Properties (Berlin) B.V. Neptunusstraat 41

2132JA HOOFDDORP KvK: 33243712

 

TNT Express Properties (Frankfurt) B.V. Neptunusstraat 41

2132JA HOOFDDORP                KvK: 33243718

 

Gelders Holding B.V. Neptunusstraat 41

2132JA HOOFDDORP                KvK: 33267240

Liability declaration    

                                                   TNT N.V. (27168968) Neptunusstraat 41-63 2132JA Hoofddorp

Bankers                               ING Bankers NV Real estate                             Property owned

The real estate is checked at the land registration office

Object code: OLDENZAAL E 945

Owner: TNT FASHION GROUP B.V. Description: Eekboerstraat 25

 

Management

 

Management                         G.W.J. Meulman

Gerhardus Wilhelmus Johannes Authorization: Jointly authorized Position: Manager

Date appointed: 01-07-2005

Date of birth: 18-09-1972

 

 

C.A.W. Noorlander Cornelis Adrianus Willem Authorization: Jointly authorized Position: Manager

Date appointed: 11-11-2005

Date of birth: 21-03-1950

 

 

P.î Harms

Peter Öbbo

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-01-2000

Date of birth: 28-04-1959

 

 

A.A.M. Lohuis

Adolf Albertus Maria

Authorization: Limited authorization

Position: Proxy

Date appointed: 01-06-2008

Date of birth: 29-06-1974

 

 

Payment information

 

 

Payment experiences                      According to terms

 

Payments                                       Based on multiple payment experiences up to € 50.000

 

 

Quarter: 2 2010: 62 Average days Quarter: 3 2010: 54 Average days Quarter: 4 2010: 53 Average days Quarter: 1 2011: 53 Average days

 

 

invoices

current quarter

2010 Q4

2010 Q3

2010 Q2

 

Total

 

380

 

100%

 

658.728

 

658.728

 

659.820

 

653.677

 

Within terms

 

207

 

56,8%

 

374.403

 

374.403

 

387.540

 

308.718

Delayed 0 - 30

126

33,2%

218.374

218.374

205.139

244.843

Delayed 31 - 60

45

10,0%

65.951

65.951

65.951

98.926

Delayed 61 - 90

2

0,0%

 

 

1.190

1.190

Delayed 91 - 120

 

 

 

 

 

 

Delayed 120+ days

 

 

 

 

 

 

 

 

FINANCIAL INFORMATION

 

Auditor                                            PricewaterhouseCoopers

 

Type of publication                           Consolidated

 

Annual accounts van                        TNT N.V.

Neptunusstraat 41-63

2132JA Hoofddorp KvK:27168968

 

Publication                                      Publication according to obligations by law

 

 

BOOKYEAR                                           2009                              2008                              2007

 

Quick ratio                                             0,98                               0,91                               0,81

 

Current ratio                                                                           0,99                                                                  0,92                                                                  0,83

 

Nett workingcapital / Balance total         -0,00                             -0,03                             -0,07

 

Capital and reserves / Balance total        0,27                              0,24                              0,27

 

Capital and reserves / Fixed                   0,43                              0,37                              --

assets

 

Solvency                                                            0,37                                0,32                              0,44

 

Nett workingcapital                                 -21.000.000                    -217.000.000                 -478.000.000

 

Capital and reserves                               2.080.000.000                1.757.000.000                1.931.000.000

 

Change capital and reserves                    18,38%                          -9,01%                           -2,62%

 

change short term liabilities                       6,18%                          -2,48%                           5,34%

 

Operating profit                                       648.000.000                   982.000.000                  1.192.000.000

 

Nett Turnover                                          10.402.000.000 11.152.000.000  11.027.000.000

 

 

 

Annual accounts            The published financial information is the consolidated group information.

Last annual accounts      2009

 

 

Tendency

Changeable

Tendency capital and reserves

 

 

 

 

 

Capital and reserves       2009 2.080.000.000

 

Total debt                       2009 5.615.000.000

 

Current ratio                   2009 0,99

 

Quick ratio                     2009 0,98

 

Nett workingcapital         2009 -21.000.000

 

 

Profitability         Positive

Solvency           Positive

Liquidity              Negative

 

 

 

 

 

 

Currency            Euro

 

BALANCE

 

BOOKYEAR                                                                2009                               2008                               2007

End of bookyear                                                31-12-2009                      31-12-2008                     31-12-2007

 

Intangible assets                                     2.061.000.000                 2.063.000.000                 2.119.000.000

 

Tangible assets                                        1.610.000.000                 1.634.000.000                 1.785.000.000

 

Financial assets                                          324.000.000                    307.000.000                    919.000.000

 

Other fixed assets                                       884.000.000                    726.000.000

 

Fixed assets                                             4.879.000.000                 4.730.000.000

 

 

 

Stocks and work in progress                          24.000.000                      24.000.000                      30.000.000

 

Accounts receivable                                1.855.000.000                 1.909.000.000                 1.937.000.000

 

Liquid assets                                               910.000.000                    497.000.000                    295.000.000

 

Other current assets                                       27.000.000                      25.000.000

 

Current assets                                          2.816.000.000                 2.455.000.000                 2.262.000.000

 

Total assets                                              7.695.000.000                 7.185.000.000                 7.085.000.000

 

 

 

Minority interest                                                                                                                           20.000.000

 

Capital and reserves                                2.080.000.000                 1.757.000.000                 1.931.000.000

 

Provisions                                                                                                                                 744.000.000

 

Long term interest yealding                                                                                                    1.071.000.000 debts

other long term debts                                                                                                                 579.000.000

 

Long term liabilities                                 2.778.000.000                 2.756.000.000                 1.650.000.000

 

Trade debts suppliers                                                                                                                 336.000.000

 

Short term interest yielding debt                                                                                                 791.000.000

 

Other short term debts                                                                                                           1.613.000.000

 

Total short term debt                               2.837.000.000                 2.672.000.000                 2.740.000.000

 

Total debt                                                 5.615.000.000                 5.428.000.000                 5.134.000.000

 

Total Liabilities                                        7.695.000.000                 7.185.000.000                 7.085.000.000

 

 

PROFIT & LOSS ACCOUNT

 

BOOKYEAR                                                                2009                                2008                               2007

Turnover                                                                                                                               10.885.000.000

 

Other operating income                                                                                                              142.000.000

 

Nett Turnover                                        10.402.000.000                11.152.000.000               11.027.000.000

 

Gross profit                                            10.402.000.000                11.152.000.000

 

Other operating income                                     37.000.000                      35.000.000

 

Wages employees                                                                                                                  3.608.000.000

 

Depreciation and amortization                                                                                                     344.000.000

 

 

Betreft creditrating op TNT Fashion Group B.V. - MIRA INFORM  (cc: mirainform@gmail.com) -  4 January

2011 - Page 8 van 14

 

 

 

Raw materials                                                                                                                            423.000.000

 

Other operating charges                                                                                                          5.457.000.000

 

Operating charges                                   9.791.000.000               10.205.000.000                 9.835.000.000

 

Operating profit                                           648.000.000                    982.000.000                 1.192.000.000

 

Financial income                                               23.000.000                      70.000.000                      97.000.000

 

Financial charges                                            184.000.000                    217.000.000                    191.000.000

 

Financial result                                          -161.000.000                    -147.000.000                      -94.000.000

 

Result participations                                         -19.000.000                     -33.000.000                         1.000.000

 

Result before taxes                                     468.000.000                    802.000.000                 1.099.000.000

 

Income taxes                                                  179.000.000                    242.000.000                    316.000.000

 

Result after taxes                                        289.000.000                    560.000.000                    783.000.000

 

Extraordinary result                                                                                                               206.000.000

 

Taxes on extraordinary result                                                                                                      206.000.000

 

Extraordinary result after                                                                                                     206.000.000 taxes

Nett result                                                    289.000.000                    560.000.000                    989.000.000

 

Income attributable to minority                              8.000.000                        4.000.000                       3.000.000 interest

 

 

 

 

COMPANY STRUCTURE

 

l  TNT N.V. (27168968) Hoofddorp

¡  TNT Real Estate B.V. (02060183)

'S-GRAVENHAGE Subsidiary (100%)

n    TNT Real Estate International B.V. (30002645)

'S-GRAVENHAGE Subsidiary

n    Vereniging van Eigenaars Appartementsgebouw Bagijnhof 10-12 in Medemblik

(51171813) MEDEMBLIK

Management relation (100%)

 

¡  Koninklijke TNT Post B.V. (27124700)

's-Gravenhage

Subsidiary (100%)

 

n    TNT Activities of holding companies B.V. (27137810) HOOFDDORP

Subsidiary (100%)

 

n    TNT Europe Finance B.V. (33243809) HOOFDDORP

Subsidiary (100%)

 

n    City Courier Netherlands B.V. (27162319)

'S-GRAVENHAGE Subsidiary (100%)

¡  TNT International Mail Activities of holding companies B.V. (30079166) HOOFDDORP

Subsidiary (100%)

 

¡  TNT Express Activities of holding companies B.V. (27138543) HOOFDDORP

Subsidiary (100%)

 

n    TNT Express Worldwide N.V             (33229886)

 

 

Subsidiary (100%)

 

n    TNT Fashion Group B.V. (06078339) Oldenzaal

Subsidiary (100%)

 

n    TNT Express Road Network B.V. (09080344) Duiven

Subsidiary (100%)

n    TNT Skypak International (Netherlands) BV (09087268) HOOFDDORP

2011 - Page 10 van 14

 

Subsidiary

 

n    TNT Transport International B.V. (24126249) HOOFDDORP

Subsidiary

 

n    TNT Innight B.V. (30080019) NIEUWEGEIN

Subsidiary (100%)

 

n    Easymall B.V. (32062765) HOOFDDORP

Subsidiary

 

n    TNT Skypak Finance B.V. (34056864) HOOFDDORP

Subsidiary (100%)

 

n    TNT Express Properties (Stuttgart) B.V. (33186455) HOOFDDORP

Subsidiary

 

n    TNT Express Properties (Munchen) B.V. (33186456) HOOFDDORP

Subsidiary

 

n    TNT Express Insurance B.V. (33242180) HOOFDDORP

Subsidiary (100%)

 

n    TNT Express Properties (Berlin) B.V. (33243712) HOOFDDORP

Subsidiary

 

n    TNT Express Properties (Frankfurt) B.V. (33243718) HOOFDDORP

Subsidiary

 

n    Gelders Holding B.V. (33267240) HOOFDDORP

Management relation (100%)

 

n    TNT Express Netherlands B.V. (33298857) Houten

Subsidiary (100%)

 

¡  TNT Mail Holding B.V. (27168507)

'S-GRAVENHAGE Subsidiary (100%)

n    TNT Post Retail B.V. (27342666)

'S-GRAVENHAGE Subsidiary (100%)

n    TNT Post Shared Services B.V. (27342672)

'S-GRAVENHAGE

 

Subsidiary (100%)

 

 

n    TNT Post Productie B.V. (27361967)

'S-GRAVENHAGE Subsidiary (100%)

n    De Digitale Brievenbus B.V. (27246262) UTRECHT

Subsidiary (100%)

 

n    TNT Post Data & Document Management B.V. (27361984)

'S-GRAVENHAGE Subsidiary (100%)

n    Euro Mail B.V. (24380513) WADDINXVEEN

Subsidiary (100%)

 

n    TNT Post Billing & Document Solutions B.V. (33296219) UTRECHT

Subsidiary (100%)

 

n    Cendris Print Management B.V. (27291060)

'S-GRAVENHAGE Subsidiary (100%)

n    TNT Post Elektronisch Zakendoen B.V. (34167688) UTRECHT

Subsidiary (100%)

 

n    Cendris Dataconsulting B.V. (34117529)

'S-GRAVENHAGE Subsidiary (100%)

n    Cendris Customer Contact B.V. (34214461)

 

 

Subsidiary (100%)

 

n    Telecontact International B.V. (34090493)

'S-GRAVENHAGE

Management relation (100%)

 

n    TNT Post Marketing & Sales B.V. (27362000)

'S-GRAVENHAGE Subsidiary (100%)

n    Kortingsbon.NL B.V. (34132914) AMSTERDAM

Subsidiary (100%)

 

n    European Mail Networks Holding B.V. (32062764)

'S-GRAVENHAGE Subsidiary (100%)

n    Netwerk VSP B.V. (30051041) UTRECHT

Subsidiary (100%)

 

n    Netwerk VSP Geadresseerd B.V. (34090494)

 

UTRECHT Subsidiary (100%)

n    HiResponse B.V. (37117557) UTRECHT

Subsidiary

 

n    TNT Post Pakketservice Benelux B.V. (34337145) HOOFDDORP

Subsidiary (100%)

 

n    TNT Post Transport B.V. (34337136) HOOFDDORP

Subsidiary (100%)

 

n    TNT Cargo Service B.V. (09098205) HOOFDDORP

Subsidiary (100%)

 

n    Toppak Holding B.V. (18049365) HOUTEN

Subsidiary (100%)

 

n    Mikropakket Netherlands B.V. (30123258) DE BILT

Subsidiary (100%)

 

n    TNT Mail Finance B.V.          (50511971)

 

 

Subsidiary (100%)

 

¡  TNT Real Estate Development B.V. (32062830)

'S-GRAVENHAGE Subsidiary (100%)

¡  TNT Finance B.V. (33141405) HOOFDDORP

Subsidiary (100%)

 

n    XP International B.V. (33136553) HOOFDDORP

Subsidiary (100%)

 

¡  TNT Head Office B.V. (33304430) Hoofddorp

Subsidiary (100%)

 

¡  TNT China Activities of holding companies B.V. (34207907) HOOFDDORP

Subsidiary (100%)

 

¡  TNT Freight Management Activities of holding companies B.V. (34250573) HOOFDDORP

Subsidiary (100%)

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.84

UK Pound

1

Rs.69.32

Euro

1

Rs.59.79

 

 

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

--

NB

                                       New Business

 

--

 

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.