MIRA
INFORM REPORT
|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
THE MEDICAL EXPORT GROUP B.V. |
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Registered Office : |
Papland 16, 4206CL Gorinchem |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
26.09.1980 |
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Com. Reg. No.: |
23044580 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesaler
of medical and dental instruments |
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No. of Employees : |
25 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
CONTACTINFORMATION
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Company name |
The Medical Export Group B.V. |
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Tradename |
The
Medical Export Group B.V. |
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Address |
Papland
16 |
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4206CL
Gorinchem |
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|
Netherlands |
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Mail address |
Postbus
598 |
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|
4200AN
Gorinchem |
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Netherlands |
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Telephone number |
0183356100 |
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Telefax number |
0183356122 |
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E-mail address |
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Website |
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VAT number / RSIN |
005351261 |
COMPANY INFORMATION
Handelsregisternummer 23044580
Registered in Chamber
of commerce Midden-Netherlands
First registration 26-09-1980
Act of foundation 05-09-1980
Date of constitution 01-07-1980
Continuation date 05-09-1980
Last change in statutes 28-10-2004
Legal form Besloten
Vennootschap (Limited Company)
Place of constitution Gorinchem
Issued capital 349.581
Paid up capital
349.581
|
NACE-code |
Wholesale
of medical and dental instruments (51462) |
|
SBI-code |
Wholesale
of medical and dental instruments (46462) |
|
Formal objective |
Het
verwerven van orders in het buitenland ten behoeve van companies in de
branche |
|
|
van
apparaten en gebruiksgoederen in hospitals, alsmede de handel in deze en |
|
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soortgelijke
of aanverwante goods |
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Employees |
Total:
25 |
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|
|
Employees according
to CoC |
Chamber
of commerce: 25 |
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|
Bookyear |
2012 |
2011 |
2010 |
|
Number |
25 |
25 |
36 |
|
Change |
0,00% |
-30,56% |
44,00% |
COMPANY STRUCTURE
|
Ultimate parent
company |
Stichting
Administratiekantoor Movaria |
|
|
Nassaulaan
55 |
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|
3743CB
BAARN |
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KvK:
32097178 |
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Holding company |
Movaria
B.V. |
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Nassaulaan
55 |
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3743CB
BAARN |
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KvK:
31035939 |
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Bank |
Fortis
Bank (Netherlands) NV |
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Account
number: 64.28.76.908 |
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ABN
Amro Bank NV |
Real estate Property
owned
MANAGEMENT
Management A. van
der Maas
Arnout
Authorization: Limited authorization (max: €
500.000)
Position: Manager
Date appointed: 01-02-2010
Date of birth: 12-01-1966
Movaria B.V.
Nassaulaan 55
3743CB BAARN
Netherlands
KvK: 31035939
Authorization: Fully authorized
Position: General director
Date appointed: 01-07-1992
J.W. Maasland
Jan Willem
Authorization: Limited authorization (max: €
125.000)
Position: Proxy
Date appointed: 30-06-1998
Date of birth: 09-03-1955
M.F.G. Vos
Monica Francisca Geertruida
Authorization: Fully authorized
Position: Proxy
Date appointed: 01-05-2007
Date of birth: 28-10-1969
PAYMENT INFORMATION
Payment experiences Payments are
regular, no complaints are known
Payments Based
on multiple payment experiences up to € 50.000
Quarter: 1 2012: 53 Average days
Quarter: 2 2012: 52 Average days
Quarter: 3 2012: 51 Average days
Quarter: 4 2012: 48 Average days
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|
invoices |
current quarter |
2012 Q3 |
2012 Q2 |
2012 Q1 |
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|
Total |
68 |
100% |
63.838 |
63.673 |
63.632 |
63.611 |
|
Within terms |
34 |
57,8% |
36.894 |
31.716 |
30.422 |
29.775 |
|
Delayed 0 - 30 |
34 |
42,2% |
26.944 |
31.957 |
33.210 |
33.836 |
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Delayed 31 - 60 |
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Delayed 61-90 |
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Delayed 91-120 |
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Delayed 120 + days |
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FINANCIAL INFORMATION
Auditor Barneveld
Schevers, Acc. en Bel.adv.
Publication financial statement Annual
accounts 2011 are published on 20-07-2012
Annual accounts 2010 are published on
21-12-2011
Annual accounts 2009 are published on
06-08-2010
Annual accounts 2008 are published on
22-07-2009
Annual accounts 2007 are published on
01-09-2008
Type of publication Corporate
Publication Steady
CORE FIGURES
BOOKYEAR 2011 2010 2009
Quick
ratio 1,01 0,98 1,59
Current
ratio 1,74 1,57 2,65
Nett
workingcapital / Balance total 0,41 0,35 0,59
Capital
and reserves / Balance total 0,43 0,37 0,62
Capital
and reserves / Fixed assets 10,91 10,79 13,26
|
Solvency |
0,78 |
0,61 |
1,73 |
|
Nett workingcapital |
3.519.369 |
3.190.812 |
3.018.064 |
|
Capital and
reserves |
3.748.449 |
3.409.737 |
3.160.830 |
|
Change capital and
reserves |
9,93% |
7,87% |
3,87% |
|
change short term
liabilities |
-14,87% |
207,23% |
-51,25% |
|
Operating profit |
1.362.234 |
1.454.335 |
1.557.366 |
|
Profitability
operating profit |
positive |
positive |
positive |
Annual accounts The
company is obligated to publish its annual accounts
Last annual accounts 2011
|
Type of publication |
Corporate |
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Gross profit |
2011: |
4.981.826 |
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2010: |
4.703.708 |
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2009: |
4.354.561 |
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2008: |
4.549.000 |
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2007: |
3.756.000 |
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2006: |
2.357.000 |
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Operating profit |
2011: |
1.362.234 |
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2010: |
1.454.335 |
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2009: |
1.557.366 |
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2008: |
1.534.000 |
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2007: |
1.366.000 |
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2006: |
568.000 |
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Result after taxes |
2011: |
938.712 |
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2010: |
1.048.907 |
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2009: |
1.118.202 |
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2008: |
1.014.000 |
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2007: |
944.000 |
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2006: |
241.000 |
Tendency changeable
Tendency capital
and reserves
Capital and reserves 2011
3.748.449
Total debt 2011
4.895.460
Current ratio 2011
1,74
Quick ratio 2011
1,01
Nett workingcapital 2011
3.519.369
Profitability Sufficient
Solvency Positive
Liquidity Positive
BALANCE
sheet
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
End of bookyear |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
Tangible assets |
343.570 |
316.104 |
238.409 |
|
Fixed assets |
343.570 |
316.104 |
238.409 |
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|||
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Stocks and work in
progress |
3.451.139 |
3.316.914 |
1.939.062 |
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Accounts receivable |
4.816.932 |
5.456.070 |
2.723.647 |
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Liquid assets |
32.268 |
34.226 |
183.414 |
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Current assets |
8.300.339 |
8.807.210 |
4.846.123 |
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Total assets |
8.643.909 |
9.123.314 |
5.084.532 |
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|||
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Capital and
reserves |
3.748.449 |
3.409.737 |
3.160.830 |
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Provisions |
114.490 |
97.179 |
95.643 |
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Total short term
debt |
4.780.970 |
5.616.398 |
1.828.059 |
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Total debt |
4.895.460 |
5.713.577 |
1.923.702 |
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Total Liabilities |
8.643.909 |
9.123.314 |
5.084.532 |
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PROFIT & LOSS
ACCOUNT |
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BOOKYEAR |
2011 |
2010 |
2009 |
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Gross profit |
4.981.826 |
4.703.708 |
4.354.561 |
|
Wages employees |
2.157.540 |
1.872.397 |
1.633.386 |
|
Depreciation and
amortization |
113.098 |
78.491 |
74.892 |
|
Other operating
charges |
1.348.954 |
1.298.485 |
1.088.917 |
|
Operating charges |
3.619.592 |
3.249.373 |
2.797.195 |
|
Operating profit |
1.362.234 |
1.454.335 |
1.557.366 |
|
Financial income |
|
16.358 |
3.038 |
|
Financial charges |
|
80.033 |
77.579 |
|
Financial result |
-125.663 |
-63.675 |
-74.541 |
|
Result before taxes |
1.236.571 |
1.390.660 |
1.482.825 |
|
Income taxes |
297.859 |
341.753 |
366.613 |
|
Result after taxes |
938.712 |
1.048.907 |
1.116.212 |
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Extraordinary
income |
|
|
1.990 |
|
Extraordinary
result |
|
|
1.990 |
|
Taxes on
extraordinary result |
|
|
1.990 |
|
Extraordinary
result after taxes |
|
|
1.990 |
|
Nett result |
938.712 |
1.048.907 |
1.118.202 |
History
Management
Per 03-02-2010 is Proxy Ronald Antonius Toten out of office.
Per 01-02-2010 is Proxy Arnout van der Maas appointed.
Per 27-10-2009 is Proxy Robert Ferry Wassink out of office.
Per 03-02-2010 is Proxy Sandra Gerstel out of office.
Per 03-02-2010 is Proxy Klaas-Jan Koning out of office.
Per 03-02-2010 is Proxy Guido Ranselaar out of office.
Company structure
Stichting Administratiekantoor Movaria (32097178)
BAARN
Movaria B.V. (31035939)
BAARN
Subsidiary
The Medical Export
Group B.V. (23044580)
Gorinchem
Management relation
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 : |
MNL |
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 |
|
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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.