MIRA INFORM REPORT
|
Report Date : |
09.11.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
X-FLOW B.V. |
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Registered Office : |
Marssteden 50, 7547TC Enschede |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
07.08.1984 |
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Com. Reg. No.: |
06050907 |
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Legal Form : |
Limited Company |
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|
|
Line of Business : |
Engineering activities
and related technical consultancy on electrotechnics |
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 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Netherlands |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CONTACTINFORMATION
|
Company name |
X-Flow
B.V. |
|
Tradename |
X-Flow B.V. |
|
Address |
Marssteden 50 |
|
|
7547TC Enschede |
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|
Netherlands |
|
Mail address |
Postbus 739 |
|
|
7500AS Enschede |
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|
Netherlands |
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Telephone number |
0534287350 |
|
Telefax number |
0534287351 |
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E-mail address |
|
|
Website |
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|
VAT number |
006541483 |
CREDIT LIMIT
Credit limit A credit of € 500.000 may
be granted
COMPANY INFORMATION
Handelsregisternummer 06050907
Registered in Chamber
of commerce Oost Netherlands
First registration 07-08-1984
Act of foundation 03-08-1984
Date of constitution 01-04-1984
Continuation date 03-08-1984
Last change in statutes 31-12-2009
Legal form (Besloten
Venootschap) Limited Company
Place of constitution Enschede
Capital EUR 350.000
Issued capital EUR 72.500
Paid up capital EUR 72.500
|
NACE-code |
Engineering
activities and related technical consultancy on electrotechnics (74204) |
|
SBI-code |
Engineering
activities and related technical consultancy on electrotechnics (711204) Manufacture
of other general purpose machinery n.e.g. (2829) |
|
Formal
objective |
Het
geven van advies inzake waterbehandeling, alsmede de fabricage van- en handel
in technische artikelen, in het bijzonder bestemd voor overheid, industrie,
scheepvaart en offshore (Providing advice on water treatment and the manufacture of and trade in technical articles, especially for government,
industry, shipping and offshore) |
Employees Total: 23
Employees according to CoC Chamber of commerce: 23
COMPANY STRUCTURE
Shareholder Pentair
Water Proces Technologie Holding B.V.
Hertmerweg 42
7625RH ZENDHONORN
Netherlands
KvK: 06032084
Active since: 11-09-1997
Percentage: 100.00%
Ultimate parent company Norit Beta S.a.r.l.
990004302624
Holding company Pentair
Water Proces Technologie Holding B.V.
Hertmerweg 42
7625RH ZENDHONORN
KvK: 06032084
Affiliated companies Pentair
Water Process Technology B.V.
Marssteden 50
7547TC ENSCHEDE
KvK: 06059584
Pentair Water Membraan Technologie B.V.
Marssteden 50
7547TC ENSCHEDE
KvK: 06068667
Pentair Water Components & Services B.V.
Marssteden 50
7547TC ENSCHEDE
KvK: 06078801
Haffmans B.V.
Marinus Dammeweg 30
5928PW
VENLO
KvK:
12030119
Leushuis
Projects International B.V.
Marssteden
50 7547TC ENSCHEDE
KvK:
06068131
Pentair
Water Projects International B.V.
Hertmerweg
42
7625RH
ZENDHONORN
KvK:
08151523
Nijhuis
International B.V. Hertmerweg 42
7625RH
ZENDHONORN
KvK:
08152521
Filtrix
B.V.
Twentepoort
Oost 24 7609RG ALMELO
KvK:
30180364
Bank Rabobank Netherlands
ING
Bank NV
Real estate Lease
The real estate is checked at the land registration
office
Object code: LONNEKER K 2529
Owner: NORIT PROCES INCHNOLOGIE HOLDING BV
MANAGEMENT
Management Pentair Water
Proces Technologie Holding B.V.
Hertmerweg
42
7625RH
ZENDHONORN
Netherlands
KvK:
06032084
Authorization:
Fully authorized
Position:
Manager
Date
appointed: 01-04-2000
P.C.G.B. Eegdeman Pleundert Cornelis
Gerard Barb Authorization: Jointly authorized Position: Manager Date appointed:
31-12-2009 Date of birth: 12-09-1970
J.P. von Hollen Jurgen Peter
Authorization: Jointly authorized
Position: Manager Date appointed: 31-12-2009 Date of birth: 13-08-1966
F.J.M. Sueters
Frederikus Johannes Maria
Authorization: Limited authorization (max: € 100.000)
Position: Proxy
Date appointed: 16-04-2010
Date of birth: 21-10-1960
PAYMENT INFORMATION
Payment experiences Payments are regular
Payments Based
on multiple payment experiences up to € 50.000
Quarter: 1 2011: 46 Average days
Quarter: 2 2011: 54 Average days Quarter: 3 2011: 40 Average days Quarter: 4
2011: 38 Average days
|
|
invoices |
current quarter |
2011
Q3 |
2011
Q2 |
2011
Q1 |
|
|
Total |
139 |
100% |
488.051 |
511.601 |
538.051 |
505.553 |
|
Within terms |
101 |
80,5% |
392.743 |
416.986 |
324.862 |
320.013 |
|
Delayed 0 - 30 |
28 |
19,5% |
95.308 |
45.146 |
110.357 |
150.486 |
|
Delayed 31 - 60 |
6 |
0,0% |
|
26.291 |
61.344 |
35.054 |
|
Delayed 61 - 90 |
2 |
0,0% |
|
23.178 |
23.178 |
|
|
Delayed 91 - 120 |
1 |
0,0% |
|
|
7.324 |
|
|
Delayed 120+ days |
1 |
0,0% |
|
|
10.986 |
|
FINANCIAL INFORMATION
|
Type of publication |
Consolidated |
|
Annual accounts van |
Norit International N.V. |
|
|
Nijverheidsweg-Noord 72 |
|
|
3812PM AMERSFOORT |
|
|
KvK: 31014453 |
|
Publication |
Publication according to
obligations by law |
|
CORE FIGURES |
|
|
|
|
BOOKYEAR |
2009 |
2008 |
2007 |
|
Quick ratio |
1,76 |
1,47 |
1,35 |
|
Current ratio |
2,30 |
1,97 |
1,90 |
|
Nett workingcapital / Balance
total |
0,31 |
0,27 |
0,23 |
|
Capital and reserves / Balance
total |
0,32 |
0,28 |
0,27 |
|
Capital and reserves / Fixed
assets |
0,70 |
0,60 |
0,52 |
|
Solvency |
0,47 |
0,38 |
0,37 |
|
Nett workingcapital |
150.284.000 |
125.339.000 |
88.874.000 |
|
Capital and reserves |
156.996.000 |
129.699.000 |
106.226.000 |
|
Change capital and reserves |
21,05% |
22,10% |
54,38% |
|
change short term liabilities |
-9,96% |
30,09% |
23,41% |
|
Operating profit |
33.883.000 |
36.921.000 |
37.369.000 |
|
Nett Turnover |
334.279.000 |
343.593.000 |
335.730.000 |
Annual accounts last The
published financial information is the consolidated group information.
annual
accounts 2009
|
Type of publication |
Consolidated |
|
|
Turnover |
2009: |
328.411.000 |
|
|
2008: |
333.462.000 |
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|
2007: |
209.774.000 |
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|
2006: |
309.937.000 |
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|
2005: |
233.868.000 |
|
Gross profit |
2006: |
166.835.000 |
|
|
2005: |
130.823.000 |
|
Operating profit |
2009: |
33.883.000 |
|
|
2008: |
36.921.000 |
|
|
2007: |
37.369.000 |
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|
2006: |
29.985.000 |
|
|
2005: |
16.851.000 |
|
Result after taxes |
2009: |
28.245.000 |
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|
2008: |
24.649.000 |
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|
2007: |
92.417.000 |
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|
2006: |
17.418.000 |
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|
2005: |
9.320.000 |
Capital and
reserves 2009
156.996.000
Total debt 2009
332.636.000
Current ratio 2009 2,30
Quick ratio 2009 1,76
Nett
workingcapital 2009
150.284.000
Profitability More than sufficient
Solvency Just
Satisfactory
Liquidity Just
Satisfactory
Current & quick ratio
Balance sheet
|
BOOKYEAR |
2009 |
2008 |
2007 |
|
End of bookyear |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Intangible assets |
22.014.000 |
20.298.000 |
18.010.000 |
|
Tangible assets |
94.260.000 |
87.971.000 |
79.520.000 |
|
Financial assets |
107.099.000 |
106.661.000 |
107.680.000 |
|
Fixed assets |
223.373.000 |
214.930.000 |
205.210.000 |
|
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|||
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Stocks and work in progress |
62.028.000 |
64.434.000 |
54.185.000 |
|
Accounts receivable |
136.720.000 |
141.316.000 |
115.101.000 |
|
Liquid assets |
67.392.000 |
48.264.000 |
18.500.000 |
|
Current assets |
266.140.000 |
254.014.000 |
187.786.000 |
|
Total assets |
489.513.000 |
468.944.000 |
392.996.000 |
|
|
|||
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Minority interest |
-119.000 |
-199.000 |
-151.000 |
|
Capital and reserves |
156.996.000 |
129.699.000 |
106.226.000 |
|
Provisions |
|
|
1.615.000 |
|
other long term debts |
|
210.747.000 |
186.394.000 |
|
Long term liabilities |
216.780.000 |
210.769.000 |
186.394.000 |
|
Trade debts suppliers |
|
56.010.000 |
91.269.000 |
|
Other short term debts |
|
72.665.000 |
7.643.000 |
|
Total short term debt |
115.856.000 |
128.675.000 |
98.912.000 |
|
Total debt |
332.636.000 |
339.444.000 |
286.921.000 |
|
Total Liabilities |
489.513.000 |
468.944.000 |
392.996.000 |
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|||
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PROFIT & LOSS ACCOUNT |
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|
|
|
BOOKYEAR |
2009 |
2008 |
2007 |
|
Turnover |
328.411.000 |
333.462.000 |
209.774.000 |
|
Other operating income |
5.868.000 |
10.131.000 |
125.956.000 |
|
Nett Turnover |
334.279.000 |
343.593.000 |
335.730.000 |
|
Wages employees |
87.777.000 |
80.881.000 |
76.393.000 |
|
Depreciation and amortization |
14.103.000 |
1.963.000 |
2.820.000 |
|
Raw materials |
146.835.000 |
165.684.000 |
|
|
Other operating charges |
51.681.000 |
47.622.000 |
219.148.000 |
|
Operating charges |
300.396.000 |
306.672.000 |
298.361.000 |
|
Operating profit |
33.883.000 |
36.921.000 |
37.369.000 |
|
Financial income |
16.880.000 |
16.304.000 |
8.911.000 |
|
Financial charges |
13.420.000 |
19.279.000 |
12.625.000 |
|
Financial result |
3.460.000 |
-2.975.000 |
-3.714.000 |
|
Result participations |
|
-14.000 |
68.424.000 |
|
Result before taxes |
37.343.000 |
-14.000 |
102.079.000 |
|
Income taxes |
9.098.000 |
9.283.000 |
9.662.000 |
|
Result after taxes |
28.245.000 |
-9.297.000 |
92.417.000 |
|
Nett result |
28.245.000 |
24.649.000 |
92.417.000 |
|
Income attributable to minority |
|
|
44.000 |
|
History |
|
|
Liability statements |
Since
23-08-2011 filed a withdrawal of declaration of liability. |
|
Consent statements |
Over bookyear 2009 a consent
agreement is filed Over bookyear 2008 a consent agreement is filed Over
bookyear 2007 a consent agreement is filed |
|
Management |
Since 12-05-2011 manager
08119660 N International B.V. out of office. Since 12-05-2011 manager
08119660 N International B.V. out of office. Since 16-04-2010 is Proxy
Frederikus Johannes Maria Sueters appointed. Since 31-12-2009 manager
08119660 Norit International B.V. appointed. Since 31-12-2009 manager
Pleundert Cornelis Gerard Barber Eegdeman appointed. Since 31-12-2009 manager Jurgen
van Hollen appointed. Since 23-12-2009 is Proxy Paul Christian Stokkers out
of office. Since 10-12-2009 manager Hendrik Dirk Willem Roesink out of
office. |
|
Modifications |
Since
31-12-2009 statutes modified. |
Company structure
Norit Beta S.a.r.l.
(990004302624)
Norit N.V. (34274011)
AMERSFOORT
Subsidiary (100%)
Norit Holding B.V.
(34274012)
AMERSFOORT
Subsidiary (100%)
N International B.V.
(08119660)
ZENDHONORN
Subsidiary (100%)
Norit International N.V.
(31014453)
AMERSFOORT
Subsidiary (100%)
Pentair Water Proces
Technologie Holding B.V. (06032084)
ZENDHONORN
Subsidiary (100%)
X-Flow B.V. (06050907)
Enschede
Subsidiary (100%)
Pentair Water Process
Technology B.V. (06059584)
ENSCHEDE
Subsidiary (100%)
Pentair Water Membraan
Technologie B.V. (06068667)
ENSCHEDE
Subsidiary (100%)
Pentair Water Components
& Services B.V. (06078801)
ENSCHEDE Subsidiary (100%)
Haffmans B.V. (12030119)
VENLO
Subsidiary (100%)
Leushuis Projects
International B.V. (06068131)
ENSCHEDE
Subsidiary (100%)
Pentair Water Projects
International B.V. (08151523)
ZENDHONORN
Subsidiary (100%)
Nijhuis International B.V.
(08152521)
ZENDHONORN Subsidiary
(100%)
Holding Nijhuis Pompen B.V.
(08070877)
Winterswijk
Subsidiary (100%)
Nijhuis Pompen B.V.
(08011648)
Winterswijk
Subsidiary (100%)
Nijhuis Pompen
Exploitatiemaatschappij B.V.
(08060407)
WINTERSWJK
Subsidiary (100%)
Filtrix B.V. (30180364)
ALMELO
Management relation
Pentair Water Winkelsteeg
B.V. (08105193)
ZENDHONORN
Subsidiary (100%)
Norit Real Estate B.V.
(31020247)
ZENDHONORN
Subsidiary (100%)
Norit Real estate B.V.
(31020249)
ZENDHONORN
Subsidiary (100%)
Norit EAPA Holding B.V.
(31048655)
AMERSFOORT
Subsidiary (100%)
Norit Netherlands B.V.
(31020246)
AMERSFOORT
Subsidiary (100%)
Tironex B.V. (33110853)
ZENDHONORN
Subsidiary (100%)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.38 |
|
UK Pound |
1 |
Rs.79.20 |
|
Euro |
1 |
Rs.67.84 |
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.