MIRA INFORM REPORT

 

 

Report Date :           

03.01.2012

 

IDENTIFICATION DETAILS

 

Name :

HEMA BV

 

 

Registered Office :

NDSM-straat 10, Amsterdam, 1033 SB

 

 

Country :

Netherlands

 

 

Financials (as on) :

30.01.2011

 

 

Year of Establishment :

1926

 

 

Com. Reg. No.:

34215639

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Subject is engaged in International Retail Organisation

 

 

No. of Employees :

5832

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

---

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 & address 

 

HEMA BV

NDSM-straat 10

Amsterdam, 1033 SB

Netherlands

Tel:       31 (20) 311 44 11

Fax:      31 (20) 311 40 00

Web:    www.hema.nl

           

 

Synthesis

 

Employees:                  5832

Company Type:            Private Subsidiary

Corporate Family:          3 Companies

Ultimate Parent:             Dutch Lion Cooperatief U.A.

Incorporation Date:         1926    

Financials in:                 USD (Millions)

Fiscal Year End:            30-Jan-2011

Reporting Currency:       Euro

Annual Sales:               NA

Total Assets:                2,288.5

 

 

Business Description     

 

International retail organisation with approximately two hundred and sixty stores in the Netherlands, thirty stores in Belgium and three in Germany. In addition to its store network, the company operates a distribution centre and fifteen patisserie bakeries

 

 

Industry

Industry            Retail (Department and Discount)

ANZSIC 2006:    4260 - Department Stores

NACE 2002:      5212 - Other retail sale in non-specialised stores

NAICS 2002:     452112 - Discount Department Stores

UK SIC 2003:    5212 - Other retail sale in non-specialised stores

US SIC 1987:    5311 - Department Stores

 

           


Key Executives   

 

Name

Title

Ronald Vanzetten

Chief Executive Officer

Ad Walter

Financial Manager

Rob Heesen

Food and Catering Director

J. Crooze

Secretary

Friederika Vos

Director-IT

 

 

news

 

Title

Date

'Jaadu Ki Jhaapi' from B-Town on New Year's day
Indo-Asian News Service (616 Words)

1-Jan-2012

Celeb pays tribute to Bhupen Hazarika
Times of India (123 Words)

29-Dec-2011

A glitzy evening
Times of India (76 Words)

28-Dec-2011

Where's our money?
Times of India (207 Words)

28-Dec-2011

Why is Vidya cheaper than Bebo, Kat?
Times of India (542 Words)

25-Dec-2011

 

Registered No.(NLD): 34215639

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7590237

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.733945

 

 

Corporate Overview

 

Location

NDSM-straat 10

Amsterdam, 1033 SB

Netherlands

Tel:       31 (20) 311 44 11

Fax:      31 (20) 311 40 00

Web:    www.hema.nl

           

Sales EUR(mil):             NA

Assets EUR(mil):           1,679.6

Employees:                   5832

Fiscal Year End:            30-Jan-2011

 

Industry:                        Retail (Department and Discount)

Incorporation Date:         1926

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Previous Name:             Hollandsche Eenheidsprijzen Maatschappij Amsterdam

Registered No.(NLD):     34215639

Chief Executive Officer:   Ronald Vanzetten

 

Contents

·         Industry Codes

·         Business Description

·         Brand/Trade Names

·         Financial Data

·         Subsidiaries

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

4260     -          Department Stores

1171     -          Bread Manufacturing (Factory based)

4129     -          Other Specialised Food Retailing

 

NACE 2002 Codes:

5212     -          Other retail sale in non-specialised stores

1581     -          Manufacture of bread; manufacture of fresh pastry goods and cakes

5224     -          Retail sale of bread, cakes, flour confectionery and sugar confectionery

 

NAICS 2002 Codes:

311811  -          Retail Bakeries

311812  -          Commercial Bakeries

452112  -          Discount Department Stores

 

US SIC 1987:

2051     -          Bread and Other Bakery Products, Except Cookies and Crackers

5311     -          Department Stores

5461     -          Retail Bakeries

 

UK SIC 2003:

5224     -          Retail sale of bread, cakes, flour confectionery and sugar confectionery

5212     -          Other retail sale in non-specialised stores

1581     -          Manufacture of bread; manufacture of fresh pastry goods and cakes

 

Business Description

International retail organisation with approximately two hundred and sixty stores in the Netherlands, thirty stores in Belgium and three in Germany. In addition to its store network, the company operates a distribution centre and fifteen patisserie bakeries

More Business Descriptions

·         HEMA B.V. is primarily engaged in the management of the funds of trusts and foundations organized for purposes other than religious, educational, charitable, or nonprofit research.

·         Department Stores

 

Brand/Trade Names

HEMA

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

1,679.6

Current Assets:

340.0

 

Total Liabilities:

1,679.6

 

Net Worth:

-1,067.0

 

 

 

Date of Financial Data:

30-Jan-2011

 

1 Year Growth

NA

Subsidiaries

Company

Percentage Owned

Country

Hema Financiering B.V.

 

Netherlands

Hema Financial Services B.V.

 

Netherlands

Hema Bakkerijen B.V.

 

Netherlands

Hema Duitsland B.V.

 

Netherlands

 

 

 

Key Corporate Relationships

Bank:

ABN AMRO Bank NV

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Dutch Lion Cooperatief U.A.
HEMA BV

HEMA BV 
Total Corporate Family Members: 3 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Dutch Lion Cooperatief U.A.

Parent

Amsterdam, Noord-Holland

Netherlands

Miscellaneous Financial Services

1,468.1

 

 

HEMA BV

Subsidiary

Amsterdam

Netherlands

Retail (Department and Discount)

 

 

 

Hema Financial Services B.V.

Subsidiary

Amsterdam, Noord-Holland

Netherlands

Consumer Financial Services

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Antonius Broeren

 

Member of the board

Director/Board Member

 

Robert Darwent

 

Member of the board of directors

Director/Board Member

 

Iljan De Boer

 

Member of the board

Director/Board Member

 

Hendrik De Wit

 

Member of the board

Director/Board Member

 

Iman Eddini-Bouddount

 

Member of the board

Director/Board Member

 

Mary Minnick

 

Member of the board of directors

Director/Board Member

 

Anders Moberg

 

Member of the board of directors

Director/Board Member

 

Marijtje Ophof

 

Member of the board

Director/Board Member

 

Tico Schneider

 

Member of the board

Director/Board Member

 

Mischa Simons

 

Member of the board

Director/Board Member

 

Thirza Van Meurs

 

Member of the board

Director/Board Member

 

Boudewijn Van Nieuwenhuijzen

 

Member of the board

Director/Board Member

 

Monique -Van Tilburg

 

Member of the board

Director/Board Member

 

Caroline Van Turennout

 

Member of the board

Director/Board Member

 

Antonius Vervat

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Ronald Vanzetten

 

Chief Executive Officer

Chief Executive Officer

 

Aart Walter

 

Managing director

Managing Director

 

J. Crooze

 

Secretary

Company Secretary

 

Ad Walter

 

Financial Manager

Finance Executive

 

Rob Heesen

 

Food and Catering Director

Sales Executive

 

Charlotte Hooijdonk

 

Fashion and Hardware Director

Sales Executive

 

Machiel Lagerweij

 

Sales Manager

Sales Executive

 

René Repko

 

Marketing Manager

Marketing Executive

 

Friederika Vos

 

Director-IT

Information Executive

 

Alex Jonker

 

Logistics Manager

Logistics Executive

 

 

 

Annual Profit & Loss

 

 

 

 

31-Jan-2010

01-Feb-2009

Period Length

12 Months

12 Months

Filed Currency

EUR

EUR

Exchange Rate (Period Average)

0.714938

0.688599

Consolidated

Yes

Yes

 

 

 

Total income

1,533.3

-

Net sales

1,533.3

1,541.8

Cost of goods sold

878.8

890.6

Cost of sales

878.8

890.6

Gross profit

654.5

651.2

Total payroll costs

254.3

256.0

Change in value of fixed assets arising from revaluation

56.1

56.5

Other operating costs

211.8

210.9

Total operating costs

522.1

-

Net operating income

132.3

127.8

Total financial income

0.8

0.9

Total expenses

161.4

167.0

Profit before tax

-28.3

-

Profit on ordinary activities after tax

-28.3

-26.4

Tax on extraordinary items

2.5

-

Profit after extraordinary items and before tax

-2.5

-

Total taxation

-

-11.9

Profit after tax

-30.8

-26.4

Net loss

-26.2

-22.1

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

30-Jan-2011

31-Jan-2010

01-Feb-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.733945

0.71945

0.76147

Consolidated

Yes

Yes

Yes

 

 

 

 

Provisions and allowances

-

140.4

2.6

Convertible debentures

1,083.3

1,129.6

-

Mortgages and loans

463.8

-

-

Trade accounts payable

-

210.0

-

Taxes and social security

139.7

-

-

Total long-term liabilities

1,686.8

1,339.6

1,074.2

Trade creditors

-

-

68.0

Bank loans and overdrafts

13.6

-

-

Other loans

407.5

-

-

Taxation and social security

5.0

-

-

Other current liabilities

-

181.7

-

Total current liabilities

455.1

181.7

395.9

Total liabilities (including net worth)

2,288.5

2,221.3

1,957.0

Intangibles

1,600.4

1,635.4

1,417.4

Total tangible fixed assets

219.9

200.2

189.9

Total asset investment

4.9

2.2

2.2

Total non-current assets

1,825.2

1,837.8

1,609.5

Net stocks and work in progress

202.7

159.3

175.2

Trade debtors

-

48.4

49.2

Other receivables

-

32.2

33.8

Total receivables

78.2

80.6

83.0

Cash and liquid assets

182.3

143.6

89.3

Total current assets

463.3

383.5

347.5

Total assets

2,288.5

2,221.3

1,957.0

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

30-Jan-2011

31-Jan-2010

01-Feb-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.733945

0.71945

0.76147

Consolidated

Yes

Yes

Yes

 

 

 

 

Current ratio

1.00

-

0.90

Acid test ratio

0.60

-

0.40

Current liabilities to net worth

-0.31%

-

-0.29%

Fixed assets to net worth

-1.26%

-

-1.17%

Collection period

-

-

12.90

Stock turnover rate

-

-

8.00

Sales to net working capital

-

-

-28.80

Asset turnover

-

-

0.71%

Profit margin

-

-

-0.03%

Return on assets

-

-

-0.02%

Sales per employee

-

-

200.78

Profit per employee

-

-

-4.99

Return on capital

-

-

-0.17%

Average wage per employee

-

-

33.34

Net worth

-1,453.8

-1,489.5

-1,371.6

Number of employees

5,832

5,708

5,288

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.30

UK Pound

1

Rs.82.66

Euro

1

Rs.68.91

 

 

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.