MIRA INFORM REPORT
|
Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
TIMBERLAND EUROPE B.V. |
|
|
|
|
Registered Office : |
Staalsteden 25, 7547TA Enschede |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
20.08.2004 |
|
|
|
|
Com. Reg. No.: |
08127208 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of outerwear |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
€ 250.000 |
|
Status : |
Good |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Netherlands |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CONTACTINFORMATION
|
Company name |
Timberland
Europe B.V. |
|
Tradename |
Timberland Europe B.V. |
|
Address |
Staalsteden 25 |
|
|
7547TA Enschede |
|
|
Netherlands |
|
Mail address |
Staalsteden 25 |
|
|
7547TA Enschede |
|
|
Netherlands |
|
Telephone number |
0534286440 |
|
Telefax number |
0534283450 |
|
E-mail address |
|
|
Website |
|
|
VAT number |
NL813420957B01 |
CREDIT LIMIT
Credit limit A
credit of € 250.000 may be granted
COMPANY INFORMATION
|
Handelsregisternummer |
08127208 |
|
Registered in |
Chamber of commerce Oost
Netherlands |
|
First registration |
20-08-2004 |
|
Act of foundation |
19-08-2004 |
|
Date of constitution |
19-08-2004 |
|
Legal form |
Besloten Vennootschap (Limited
Company) |
|
Place of constitution |
Enschede |
|
Capital |
EUR 90.000 |
|
Issued capital |
EUR 18.000 |
|
Paid up capital |
EUR 18.000 |
NACE-code Wholesale of outerwear (51421)
SBI-code Non-specialized wholesale of consumer goods
(51921)
Formal objective Non-specialised wholesale trade in
consumentenartikelen (46901)
Het uitoefenen van objective op het
gebied van distributie en handel in consumentenartikelen, alsmede houdster- en
financieringsactiviteiten.
(The practice of objectifying in distribution and trade of household goods, as well as holding and financing activities.)
|
Employees |
Total: 146 |
|
|
|
|
Bookyear |
|
2009 |
2007 |
2006 |
|
Number |
|
146 |
137 |
137 |
|
Change |
|
6,57% |
0,00% |
5,38% |
COMPANY STRUCTURE
Shareholder Name: Timberland Switzerland GmbH
Address:
Herrenacker 15, CH8200 Schaffhausen, Switzerland
Registered
in: Subscribed Chamber of commerce Kanton Schafft- hausen-Hauptregister with registration
number CH 290.4.014.788-0 in Switzerland.
Only
shareholder since: 19-08-2004
Bankers ABN Amro Bankers NV
Real estate Unknown
The real estate is checked at the
land registration office Object code: LONNEKER K 2493
Owner: STAALSINDEN 25 BV
MANAGEMENT
Management C.W. Teffner
Carrie
Welhousen
Authorization:
Fully authorized
Position:
Manager
Date
appointed: 28-09-2009
Date of
birth: 27-06-1966
B.J.
Aanstoot Berend Jan
Authorization:
Limited authorization
Position:
Proxy
Date
appointed: 31-03-2010
Date of
birth: 20-07-1960
S.J.
Memelink Sander Juriaan
Authorization:
Limited authorization
Position:
Proxy
Date
appointed: 01-10-2010
Date of
birth: 09-06-1975
M.G.J. van Onna
Mark Gerardus Johannes
Authorization: Limited
authorization
Position: Proxy
Date appointed: 01-06-2009
Date of birth: 28-09-1968
PAYMENT INFORMATION
Payment
experiences Payments are
regular
Payments
Based on
multiple payment experiences up to € 25.000
Quarter: 3 2010: 68 Average
days
Quarter: 4 2010: 70 Average
days
Quarter: 1 2011: 63 Average
days
Quarter: 2 2011: 43 Average
days
|
|
invoices |
current quarter |
2011 Q1 |
2010 Q4 |
2010 Q3 |
|
|
Total |
101 |
100% |
103.762 |
102.782 |
110.791 |
107.174 |
|
Within terms |
|
70,3% |
72.944 |
71.902 |
56.271 |
62.523 |
|
Delayed 0 - 30 |
|
28,4% |
29.471 |
20.325 |
25.406 |
22.357 |
|
Delayed 31 - 60 |
6 |
1,3% |
1.347 |
|
12.116 |
9.423 |
|
Delayed 61 - 90 |
5 |
0,0% |
|
|
16.998 |
6.538 |
|
Delayed 91 - 120 |
2 |
0,0% |
|
4.222 |
|
2.533 |
|
Delayed 120+ days |
3 |
0,0% |
|
6.333 |
|
3.800 |
FINANCIAL INFORMATION
|
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 14-03-2011 |
|
|
Annual accounts 2008 are
published on 14-03-2011 |
|
|
Annual accounts 2007 are
published on 14-03-2011 |
|
Type of publication |
Corporate |
|
Publication |
Publication according to
obligations by law |
CORE FIGURES
|
BOOKYEAR |
2009 |
2008 |
2006 |
|
Quick ratio |
1,63 |
1,45 |
0,62 |
|
Current ratio |
1,63 |
1,45 |
0,62 |
|
Nett workingcapital / Balance
total |
0,35 |
0,26 |
-0,27 |
|
Capital and reserves / Balance
total |
0,36 |
0,34 |
0,29 |
|
Capital and reserves / Fixed
assets |
3,62 |
2,09 |
0,52 |
|
Solvency |
0,65 |
0,59 |
0,42 |
|
Nett workingcapital |
3.141.520 |
1.960.763 |
-1.026.000 |
|
Capital and reserves |
3.205.280 |
2.593.934 |
1.116.000 |
|
Change capital and reserves |
23,57% |
132,43% |
|
|
change short term liabilities |
13,04% |
64,36% |
|
|
Nett Turnover |
12.585.089 |
13.295.236 |
|
|
Operating profit |
943.862 |
1.151.904 |
1.090.000 |
|
Profitability operating profit |
positive |
positive |
positive |
Annual
accounts Last annual accounts The
company is obligated to publish its annual accounts
Last
Annual accounts 2009
Tendency Upward
Tendency capital and reserves
|
4N |
|
||||||
|
|
|
|
|
||||
|
2N |
|
|
|
|
|
||
|
|
|
|
i |
|
i |
|
|
|
0 |
|
||||||
|
|
|
2006 |
2008 |
2009 |
|||
Capital and reserves 2009 3.205.280
Total debt 2009 5.783.365
Current ratio 2009 1,63
Quick ratio 2009 1,63
Nett workingcapital 2009 3.141.520
Profitability Positive
Solvency Sufficient
Liquidity Sufficient
Current- & Quickratio
BALANCE sheet
Currency
in Euro
|
BOOKYEAR |
2009 |
2008 |
2006 |
|
End of bookyear |
31-12-2009 |
31-12-2008 |
31-12-2006 |
|
Tangible assets |
884.850 |
1.243.202 |
2.143.000 |
|
Fixed assets |
884.850 |
1.243.202 |
2.143.000 |
|
|
|||
|
Tax receivables |
89.459 |
72.502 |
|
|
Due from related parties |
7.621.020 |
6.029.663 |
|
|
Other amounts receivable |
23.519 |
2.923 |
|
|
Accounts receivable |
7.733.998 |
6.105.088 |
1.132.000 |
|
Liquid assets |
221.059 |
102.548 |
513.000 |
|
Deferred charges and accrued |
148.738 |
143.122 |
|
|
income |
|
|
|
|
Current assets |
8.103.795 |
6.350.758 |
1.645.000 |
|
Total assets |
8.988.645 |
7.593.960 |
3.787.000 |
|
|
|||
|
Capital and reserves |
3.205.280 |
2.593.934 |
1.116.000 |
|
Trade debts suppliers |
622.508 |
634.442 |
|
|
Taxes, remuneration &
soc.security |
554.941 |
597.992 |
|
|
Debts to related companies |
3.676.982 |
3.036.797 |
|
|
Other short term debts |
107.844 |
120.764 |
2.671.000 |
|
Total short term debt |
4.962.275 |
4.389.995 |
2.671.000 |
|
Deferred charges and accrued |
821.090 |
610.031 |
|
|
income |
|
|
|
|
Total debt |
5.783.365 |
5.000.026 |
2.671.000 |
|
Total Liabilities |
8.988.645 |
7.593.960 |
3.787.000 |
|
|
|||
|
PROFIT & LOSS ACCOUNT |
|
|
|
|
BOOKYEAR |
2009 |
2008 |
2006 |
|
Other operating income |
|
|
13.425.000 |
|
Nett Turnover |
12.585.089 |
13.295.236 |
|
|
Gross profit |
12.585.089 |
13.295.236 |
|
|
Wages employees |
5.173.016 |
5.179.076 |
3.783.000 |
|
Sales costs |
|
|
741.000 |
|
Depreciation and amortization |
491.247 |
634.164 |
640.000 |
|
Other operating charges |
5.976.964 |
6.330.092 |
7.171.000 |
|
Operating charges |
11.641.227 |
12.143.332 |
12.335.000 |
|
Operating profit |
943.862 |
1.151.904 |
1.090.000 |
|
Financial charges |
|
|
271.000 |
|
Financial result |
-140.387 |
-141.076 |
-271.000 |
|
Result before taxes |
803.475 |
1.010.828 |
818.000 |
|
Income taxes |
192.129 |
244.015 |
242.000 |
|
Result after taxes |
611.346 |
766.813 |
576.000 |
|
Nett result |
611.346 |
766.813 |
576.000 |
History
|
Management |
Since |
01-10-2010 |
is Proxy Sander Juriaan Memelink
appointed. |
|
|
Since |
01-09-2010 |
is Proxy Robert Francis Dirr out
of office. |
|
|
Since |
31-03-2010 |
is Proxy Berend Jan Aanstoot
appointed. |
|
|
Since |
31-03-2010 |
is Proxy Engelbert Johannes
Overmaat out of office. |
|
|
Since |
31-03-2010 |
is Proxy Stefan Schepers out of
office. |
|
|
Since |
31-03-2010 |
is Proxy Patrick Eduard Maria
Bruns out of office. |
|
|
Since |
28-09-2009 |
manager Carrie Welhousen Teffner
appointed. |
|
|
Since |
28-09-2009 |
manager John David Crimmins III
out of office. |
|
|
Since |
01-06-2009 |
is Proxy Mark Gerardus Johannes
van Onna appointed. |
Company structure
·
Timberland Europe B.V. (08127208)
Enschede
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
|
UK Pound |
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.63.62 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.