MIRA
INFORM REPORT
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Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
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Name : |
VAN SILLEVOLDT RIJST B.V |
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Registered Office : |
Ketelweg 34, Papendrecht, 3356 LE |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.05.1990 |
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Com. Reg. No.: |
23063811 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Subject is engaged in grain milling; and manufacture of breakfast
cereals and cereals-based foods. |
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No. of Employees : |
110 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Netherlands |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Netherlands - ECONOMIC OVERVIEW
The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.
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Source : CIA |
Company name & address
Van Sillevoldt Rijst B.V.
Ketelweg 34
Papendrecht, 3356 LE
Netherlands
Tel: +31 078-6420720
Fax: +31 078-6420729
Synthesis
Employees: 110
Company Type: Private Subsidiary
Corporate Family: 2
Companies
Ultimate Parent: Siacom Nederland B.V.
Incorporation Date:
31-May-1990
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 108.5
Total Assets: 34.1
Business Description
Van Sillevoldt Rijst B.V. is primarily engaged in grain milling; and
manufacture of breakfast cereals and cereals-based foods.
Industry
Industry Food Processing
ANZSIC 2006: 1161 - Grain Mill
Product Manufacturing
NACE 2002: 1561 - Manufacture
of grain mill products
NAICS 2002: 31121 - Flour
Milling and Malt Manufacturing
UK SIC 2003: 1561 - Manufacture
of grain mill products
UK SIC 2007: 1061 - Manufacture
of grain mill products
US SIC 1987: 2041 - Flour and
Other Grain Mill Products
Key Executives
|
Name |
Title |
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F. Molendijk |
Sales manager |
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J. Spanjersberg |
EDP manager |
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H. Verschor |
Purchasing manager |
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T. Pruisen |
Head of accounting department |
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O. Lindhout |
Personnel manager |
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
Ketelweg 34
Papendrecht, 3356 LE
Netherlands
Tel: +31 078-6420720
Fax: +31 078-6420729
Sales EUR(mil): 82.0
Assets EUR(mil): 25.4
Employees: 110
Fiscal Year End: 31-Dec-2010
Industry: Food Processing
Incorporation Date: 31-May-1990
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(NLD): 23063811
Head of accounting
department:
T. Pruisen
Contents
Industry Codes
Business Description
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1161 - Grain Mill Product Manufacturing
NACE 2002 Codes:
1561 - Manufacture of grain mill products
NAICS 2002 Codes:
31121 - Flour Milling and Malt Manufacturing
US SIC 1987:
2041 - Flour and Other Grain Mill Products
UK SIC 2003:
1561 - Manufacture of grain mill products
UK SIC 2007:
1061 - Manufacture of grain mill products
Business
Description
Van Sillevoldt Rijst B.V. is primarily engaged in grain milling; and
manufacture of breakfast cereals and cereals-based foods.
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Corporate Family |
Corporate Structure News: |
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Siacom
Nederland B.V. |
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Van Sillevoldt Rijst B.V. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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|
Siacom Nederland B.V. |
Parent |
Papendrecht, Zuid-Holland |
Netherlands |
Commercial Banks |
108.6 |
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Van Sillevoldt Rijst B.V. |
Subsidiary |
Papendrecht, South Holland |
Netherlands |
Food Processing |
108.5 |
109 |
Executive report
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Board
of Directors |
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Head of accounting department |
Director/Board Member |
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EDP manager |
Director/Board Member |
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Purchasing manager |
Director/Board Member |
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Executives |
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Head of accounting department |
Accounting Executive |
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Personnel manager |
Human Resources Executive |
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Sales manager |
Sales Executive |
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EDP manager |
Information Executive |
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Purchasing manager |
Purchasing Executive |
Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Net sales |
108.5 |
143.7 |
173.2 |
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Cost of goods sold |
106.4 |
123.9 |
155.2 |
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Cost of sales |
106.4 |
123.9 |
155.2 |
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Gross profit |
2.1 |
19.8 |
17.9 |
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General expenses |
- |
- |
10.0 |
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Total payroll costs |
- |
8.8 |
- |
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Change in value of fixed assets arising
from revaluation |
0.9 |
1.1 |
- |
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Other operating costs |
3.0 |
1.1 |
- |
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Total operating
costs |
- |
- |
10.0 |
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Net operating
income |
- |
8.8 |
7.9 |
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Total financial
income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.5 |
0.8 |
1.9 |
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Profit before tax |
- |
8.0 |
6.0 |
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Profit on ordinary activities after tax |
-1.7 |
6.0 |
4.4 |
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Total taxation |
-0.6 |
2.0 |
1.6 |
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Profit after tax |
-1.7 |
6.0 |
4.4 |
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Net profit |
- |
6.0 |
4.4 |
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Net loss |
-1.7 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Share premium account |
0.4 |
0.5 |
0.5 |
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Other reserves |
10.9 |
10.5 |
8.0 |
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Total reserves |
0.1 |
- |
- |
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Profit brought forward from previous
year(s) |
- |
6.1 |
4.2 |
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Total
stockholders equity |
11.6 |
19.1 |
14.6 |
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Provisions and allowances |
0.0 |
0.1 |
0.1 |
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Total long-term
liabilities |
- |
0.1 |
0.3 |
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Trade creditors |
10.7 |
5.8 |
10.4 |
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Total current
liabilities |
22.4 |
17.1 |
29.5 |
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Total
liabilities (including net worth) |
34.1 |
36.3 |
44.5 |
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Total tangible
fixed assets |
5.0 |
4.3 |
4.2 |
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Total asset investment |
0.6 |
0.5 |
0.5 |
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Total
non-current assets |
5.5 |
4.9 |
4.7 |
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Net stocks and work in progress |
16.0 |
13.1 |
19.8 |
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Trade debtors |
8.4 |
14.2 |
17.9 |
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Other receivables |
2.3 |
3.7 |
2.1 |
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Total
receivables |
10.7 |
17.9 |
20.0 |
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Cash and liquid assets |
1.8 |
0.4 |
0.0 |
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Total current
assets |
28.5 |
31.4 |
39.8 |
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Total assets |
34.1 |
36.3 |
44.5 |
Annual Ratios
Financials in: USD (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.30 |
1.80 |
1.40 |
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Acid test ratio |
0.60 |
1.10 |
0.70 |
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Current liabilities to net worth |
1.93% |
0.89% |
2.02% |
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Fixed assets to net worth |
0.48% |
0.26% |
0.32% |
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Collection period |
27.90 |
35.00 |
39.80 |
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Stock turnover rate |
6.90 |
11.30 |
8.30 |
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Sales to net working capital |
18.00 |
10.30 |
16.00 |
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Asset turnover |
3.23% |
4.08% |
3.70% |
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Profit margin |
-0.02% |
0.06% |
0.04% |
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Return on assets |
-0.07% |
0.23% |
0.13% |
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Shareholders' return |
-0.20% |
0.43% |
0.39% |
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Sales per employee |
745.10 |
930.78 |
986.72 |
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Profit per employee |
-15.58 |
51.72 |
34.36 |
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Return on capital |
-0.24% |
0.39% |
0.26% |
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Average wage per employee |
- |
57.01 |
- |
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Net worth |
11.6 |
19.1 |
14.6 |
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Number of employees |
110 |
111 |
120 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.