MIRA
INFORM REPORT
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Report Date : |
22.12.2012 |
IDENTIFICATION DETAILS
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Name : |
STORK PRINTS |
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Registered Office : |
Raamstraat 1-3, Postbus 67, Boxmeer, 5830 AB |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.11.1972 |
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Com. Reg. No.: |
16032034 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Development and manufacture of rotary screen printing systems for all process stages in the textile printing process |
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No. of Employees : |
1,191 employees |
RATING & COMMENTS
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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) |
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Netherlands |
A2 |
A2 |
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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
Stork Prints
Raamstraat 1-3
Postbus 67
Boxmeer, 5830 AB
Netherlands
Tel: 31-485599555
Fax: 31 (485) 59 95 56
Web: www.storkprints.com
Synthesis
Employees: 1191
Company Type: Private Subsidiary
Corporate Family: 15
Companies
Ultimate Parent: BENCIS Capital Partners B.V.
Incorporation Date:
23-Nov-1972
Auditor: KPMG Accountants NV
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 267.2
Total Assets: 144.5
Business Description
Development and manufacture of rotary screen printing systems for all
process stages in the textile printing process
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2469 - Other
Specialised Machinery and Equipment Manufacturing
NACE 2002: 2954 - Manufacture
of machinery for textile, apparel and leather production
NAICS 2002: 333292 - Textile
Machinery Manufacturing
UK SIC 2003: 2954 - Manufacture
of machinery for textile, apparel and leather production
UK SIC 2007: 2894 - Manufacture
of machinery for textile, apparel and leather production
US SIC 1987: 3552 - Textile
Machinery
Key Executives
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Name |
Title |
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Dick Joustra |
CEO |
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J. Smits |
Sales manager |
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M. Schiks |
EDP manager |
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J. Daanen |
Purchasing manager |
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H Verhoeven |
Legal Counsel |
news
|
Titl |
|
e |
Australia Patent: Stork Prints Files
Application for 'Screen printing'
Australian Government (70 Words)
10-Feb-2012
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Raamstraat 1-3
Postbus 67
Boxmeer, 5830 AB
Netherlands
Tel: 31-485599555
Fax: 31 (485) 59 95 56
Web: www.storkprints.com
Sales EUR(mil): 192.2
Assets EUR(mil): 111.3
Employees: 1,400
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous Capital Goods
Incorporation Date: 23-Nov-1972
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(NLD): 16032034
CEO : Dick Joustra
Contents
Industry Codes
Business Description
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2469 - Other Specialised Machinery and Equipment Manufacturing
NACE 2002 Codes:
2954 - Manufacture of machinery for textile, apparel and leather
production
NAICS 2002 Codes:
333292 - Textile Machinery Manufacturing
US SIC 1987:
3552 - Textile Machinery
UK SIC 2003:
2954 - Manufacture of machinery for textile, apparel and leather
production
UK SIC 2007:
2894 - Manufacture of machinery for textile, apparel and leather
production
Business
Description
Development and manufacture of rotary screen printing systems for all
process stages in the textile printing process
More Business
Descriptions
Printing Machinery & Equipment Mfr
Stork Prints B.V. is primarily engaged in manufacture of textile machinery (machines for preparing, producing, extruding, drawing, texturing or cutting man-made textile fibres, materials or yarns; machines for preparing textile fibres: cotton gins, bale breakers, garnetters, cotton spreaders, wool scourers, wool carbonisers, combs, carders, roving frames, etc.; spinning machines; machines for preparing textile yarns: reelers, warpers and related machines; weaving machines (looms) including hand looms; knitting machines; machines for making knotted net, tulle, lace, braid, etc.); manufacture of auxiliary machines or equipment for textile machinery (dobbies, Jacquards, automatic stop motions, shuttle changing mechanisms, spindles and spindle flyers, etc.); manufacture of machinery for fabric processing (machinery for washing, bleaching, dyeing, dressing, finishing, coating or impregnating textile fabrics; manufacture of machines for reeling, unreeling, folding, cutting or pinking textile fabrics); manufacture of laundry machinery (ironing machines including fusing presses; laundry-type washing and drying machines; dry cleaning machines); manufacture of sewing machines, sewing machine heads and sewing machine needles; manufacture of machines for producing or finishing felt or nonwovens; manufacture of leather machines (machinery for preparing, tanning or working hides, skins or leather; and machinery for making or repairing footwear or other articles of hides, skins, leather or furskins).
Printing
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Corporate Family |
Corporate
Structure News: |
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BENCIS
Capital Partners B.V. |
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Stork Prints |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Amsterdam |
Netherlands |
Investment Services |
15 |
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Holding |
Boxmeer |
Netherlands |
Miscellaneous Capital Goods |
267.2 |
1,400 |
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Subsidiary |
Boxmeer |
Netherlands |
Office Supplies |
1,400 |
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Subsidiary |
Ahmedabad |
India |
Miscellaneous Capital Goods |
13.5 |
200 |
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Subsidiary |
Eerbeek |
Netherlands |
Miscellaneous Fabricated Products |
135 |
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Subsidiary |
Langkampfen |
Austria |
Miscellaneous Capital Goods |
20.5 |
100 |
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Subsidiary |
Piracicaba |
Brazil |
Scientific and Technical Instruments |
90 |
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Subsidiary |
Charlotte, NC |
United States |
Miscellaneous Capital Goods |
8.1 |
70 |
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Subsidiary |
Warburg, Nordrhein-Westfalen |
Germany |
Printing and Publishing |
50 |
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Subsidiary |
Karachi, Shahrah-e-Faisal |
Pakistan |
Business Services |
30 |
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Subsidiary |
Bekasi, Jawa Barat |
Indonesia |
Business Services |
22 |
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Subsidiary |
Osaka |
Japan |
Office Supplies |
1.0 |
5 |
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Holding |
Waalwijk |
Netherlands |
Textiles - Non Apparel |
300 |
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Subsidiary |
Abingdon |
United Kingdom |
Construction Services |
26.8 |
38 |
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Subsidiary |
Darien, CT |
United States |
Textiles - Non Apparel |
10 |
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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Member of the board |
Director/Board Member |
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Executives |
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CEO |
Chief Executive Officer |
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Managing Director, Metal Precision |
Managing Director |
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Personnel manager |
Human Resources Executive |
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Sales manager |
Sales Executive |
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Communications Manager |
Corporate Communications Executive |
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EDP manager |
Information Executive |
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Legal Counsel |
Legal Executive |
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Purchasing manager |
Purchasing Executive |
Annual Profit
& Loss
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
Yes |
Yes |
Yes |
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Total income |
- |
- |
212.8 |
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Net sales |
267.2 |
236.6 |
212.8 |
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Other operating income |
0.0 |
- |
- |
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Cost of goods sold |
173.3 |
147.3 |
134.7 |
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Cost of sales |
173.3 |
147.3 |
134.7 |
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Gross profit |
93.9 |
89.3 |
78.1 |
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General expenses |
64.1 |
60.4 |
66.5 |
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Total operating
costs |
64.1 |
60.4 |
66.5 |
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Net operating
income |
29.8 |
28.9 |
11.6 |
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Total financial
income |
1.1 |
0.8 |
0.7 |
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Total expenses |
3.0 |
3.4 |
4.2 |
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Profit before tax |
27.9 |
26.3 |
8.1 |
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Profit on ordinary activities after tax |
24.7 |
23.6 |
6.1 |
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Total taxation |
3.2 |
2.7 |
2.0 |
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Profit after tax |
24.7 |
23.6 |
6.1 |
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Net profit |
24.7 |
23.5 |
6.1 |
Annual Balance
Sheet
Financials in: USD (mil)
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
Yes |
Yes |
Yes |
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Minority interests |
4.5 |
4.6 |
4.1 |
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Provisions and allowances |
14.1 |
0.6 |
- |
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Total long-term
liabilities |
23.0 |
43.1 |
54.2 |
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Trade creditors |
17.3 |
15.3 |
- |
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Total current
liabilities |
55.5 |
56.3 |
45.9 |
|
Total
liabilities (including net worth) |
144.5 |
142.8 |
141.1 |
|
Intangibles |
3.2 |
3.5 |
3.4 |
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Total tangible
fixed assets |
31.3 |
30.4 |
31.8 |
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Total asset investment |
2.3 |
2.9 |
3.1 |
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Total
non-current assets |
36.8 |
36.8 |
38.3 |
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Net stocks and work in progress |
32.3 |
35.0 |
28.7 |
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Trade debtors |
40.9 |
40.4 |
- |
|
Other receivables |
12.3 |
17.0 |
- |
|
Total
receivables |
53.2 |
57.4 |
55.5 |
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Cash and liquid assets |
22.2 |
13.6 |
18.6 |
|
Total current
assets |
107.7 |
106.0 |
102.8 |
|
Total assets |
144.5 |
142.8 |
141.1 |
Annual Ratios
Financials in: USD (mil)
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
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Current ratio |
1.90 |
1.90 |
2.20 |
|
Acid test ratio |
1.40 |
1.30 |
1.60 |
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Current liabilities to net worth |
1.26% |
1.63% |
1.37% |
|
Fixed assets to net worth |
0.83% |
1.06% |
1.14% |
|
Collection period |
59.90 |
61.60 |
- |
|
Stock turnover rate |
7.70 |
6.80 |
7.60 |
|
Sales to net working capital |
4.80 |
4.80 |
3.80 |
|
Asset turnover |
1.73% |
1.68% |
1.56% |
|
Profit margin |
0.10% |
0.11% |
0.04% |
|
Return on assets |
0.18% |
0.19% |
0.06% |
|
Sales per employee |
161.35 |
149.39 |
127.62 |
|
Profit per employee |
16.82 |
16.63 |
4.86 |
|
Return on capital |
0.28% |
0.28% |
0.04% |
|
Net worth |
44.2 |
34.7 |
33.6 |
|
Number of employees |
1,191 |
1,196 |
1,199 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.07 |
|
UK Pound |
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
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.