MIRA INFORM REPORT

 

Report Date :           

04.08.2012

 

IDENTIFICATION DETAILS

 

Name :

PALSGAARD NETHERLANDS B.V.

 

 

Registered Office :

Industrieweg 21, Zierikzee, 4301 RS

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

20.11.1972

 

 

Com. Reg. No.:

22009984

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Manufacture of other food products not elsewhere classified

 

 

No. of Employees :

Not Available

 

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

 

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 – 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

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME AND ADDRESS

 

Palsgaard Netherlands B.V.                                                                                                                           

 

Industrieweg 21

Zierikzee, 4301 RS

Netherlands

 Tel: +31 0111-413316

  

Employees:            NA

Company Type:      Private Independent

                            

Incorporation Date: 20-Nov-1972

Financials in:           USD (Millions)        

                               

Fiscal Year End:      31-Dec-2010

Reporting Currency:  Euro

Annual Sales:          NA

Total Assets:           13.0

 

 

Business Description

 

 

Palsgaard Netherlands B.V. is primarily engaged in manufacture of soups; and manufacture of other food products not elsewhere classified.

 

 

Industry      

 

 

Industry

Food Processing

ANZSIC 2006:

1199 - Other Food Product Manufacturing Not Elsewhere Classified

NACE 2002:

1589 - Manufacture of other food products not elsewhere classified

NAICS 2002:

31199 - All Other Food Manufacturing

UK SIC 2003:

1589 - Manufacture of other food products not elsewhere classified

US SIC 1987:

2099 - Food Preparations, Not Elsewhere Classified

 

 

Key Executives     

           

 

Name

Title

P.T.M.M. Verschuren

Head of accounting department

Birger Brix

Member of the board of directors

Knud Mogensen

Member of the board of directors

Erik Ponsen

Member of the board

Jakob Thøisen

Member of the board of directors

 

 

Registered No.(NLD): 22009984

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location
Industrieweg 21
Zierikzee, 4301 RS
Netherlands

 

Tel: +31 0111-413316

 

Sales EUR(mil):             NA

Assets EUR(mil):           9.7

Employees:                   NA

Fiscal Year End:            31-Dec-2010

 

Industry:                        Food Processing

Incorporation Date:         20-Nov-1972

Company Type:             Private Independent

Quoted Status:Not         Quoted

Registered No.(NLD):     22009984

 

Head of accounting department: P.T.M.M. Verschuren

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1199

-

Other Food Product Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

1589

-

Manufacture of other food products not elsewhere classified

 

NAICS 2002 Codes:

31199

-

All Other Food Manufacturing

 

US SIC 1987:

2099

-

Food Preparations, Not Elsewhere Classified

 

UK SIC 2003:

1589

-

Manufacture of other food products not elsewhere classified

 

 

 

 

Business Description

 

Palsgaard Netherlands B.V. is primarily engaged in manufacture of soups; and manufacture of other food products not elsewhere classified.

 

 

Financial Data

 

Financials in:

EUR(mil)

1 Year Growth

Assets:

9.7

NA

Current Assets:

5.0

 

Total Liabilities:

9.7

 

Net Worth:

7.8

 

Date of Financial Data:

31-Dec-2010

 

 

 

Key Corporate Relationships

 

 

 

 

 

 

Bank:    ABN AMRO Bank NV

 

 

Board of Directors

 

 

 

Name

Title

Function

Birger Brix

 

Member of the board of directors

Director/Board Member

Knud Mogensen

 

Member of the board of directors

Director/Board Member

Erik Ponsen

 

Member of the board

Director/Board Member

Jakob Thøisen

 

Member of the board of directors

Director/Board Member

 

 

Executives

 

 

 

Name

Title

Function

P.T.M.M. Verschuren

 

Head of accounting department

Accounting Executive

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

Yes

Yes

Yes

 

 

 

 

Gross profit

8.2

4.3

5.3

General expenses

-

0.9

0.6

Total payroll costs

1.6

-

-

Change in value of fixed assets arising from revaluation

0.8

-

-

Other operating costs

1.1

-

-

Total operating costs

-

0.9

0.6

Net operating income

4.8

3.4

4.7

Total financial income

0.0

0.1

0.2

Total expenses

0.0

0.1

0.0

Profit before tax

4.8

3.4

4.9

Profit on ordinary activities after tax

3.6

2.5

3.6

Total taxation

1.2

0.9

1.3

Profit after tax

3.6

2.5

3.6

Net profit

3.6

2.6

3.6

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

Yes

Yes

Yes

 

 

 

 

Provisions and allowances

0.4

0.5

1.1

Trade creditors

0.5

-

-

Total current liabilities

2.0

2.3

2.4

Total liabilities (including net worth)

13.0

14.0

14.2

Total tangible fixed assets

6.2

7.4

7.1

Total non-current assets

6.2

7.4

7.1

Net stocks and work in progress

3.3

1.8

2.0

Trade debtors

1.5

1.0

1.2

Other receivables

0.1

1.1

0.7

Total receivables

1.7

2.1

1.8

Cash and liquid assets

1.8

2.7

3.3

Total current assets

6.7

6.6

7.1

Total assets

13.0

14.0

14.2

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

Yes

Yes

Yes

 

 

 

 

Current ratio

3.40

2.90

3.00

Acid test ratio

1.70

2.10

2.10

Current liabilities to net worth

0.19%

0.20%

0.22%

Fixed assets to net worth

0.59%

0.66%

0.67%

Return on assets

0.38%

0.25%

0.33%

Profit per employee

227.04

154.57

222.52

Return on capital

0.44%

0.30%

0.39%

Average wage per employee

73.38

-

-

Net worth

10.5

11.2

10.7

Number of employees

16

16

15

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.08

UK Pound

1

Rs.87.03

Euro

1

Rs.68.36

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.