MIRA INFORM REPORT

 

 

Report Date :

20.07.2012

 

IDENTIFICATION DETAILS

 

Name :

BANDOLERA B.V.

 

 

Registered Office :

Vareseweg 85, 3047AT Rotterdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

07.10.1991

 

 

Com. Reg. No.:

24191591

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Wholesale of outerwear

 

 

No. of Employees :

65

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Delayed

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

CONTACTINFORMATION

 

Company name

Bandolera B.V.

Tradename

Bandolera B.V.

Address

Vareseweg 85

 

3047AT Rotterdam

 

Netherlands

Mail address

Vareseweg 85

 

3047AT Rotterdam

 

Netherlands

Telephone number

0102381500

Telefax number

0102381599

E-mail address

receptie@bandolera.nl

Website

www.bandolera.com

VAT number / RSIN

800767627

Branch(es)

Bandolera B.V. (24191591.0001)

 

Koningin Wilhelminaplein 1 4.01.10

 

1062HG AMSTERDAM

 

 

COMPANY INFORMATION

 

 

 

Handelsregisternummer

24191591

Registered in

Chamber of commerce Rotterdam

First registration

08-10-1991

Act of foundation

07-10-1991

Date of constitution

07-10-1991

Legal Form

Besloten Vennootschap

 

Place of constitution

Rotterdam

 

Capital

EUR 45.378,02

 

Issued capital

EUR 18.151,21

 

Paid up capital

EUR 18.151,21

 

 

NACE-code

Wholesale of outerwear (51421)

SBI-code

Wholesale of outerwear (46421)

Formal objective

Groothandel (im- en export), produktie van kleding en mode-artikelen

Export

United States of America, Europe

Brand(s)

BANDOLERA, BB EXPRESS, NTS NOT THE SAME

 

Employees

Total: 65

 

 

Employees according to CoC

Chamber of commerce: 65

 

 

Bookyear

2012

2011

2010

Number

65

67

67

Change

-2,99%

0,00%

-4,29%

 

 

COMPANY STRUCTURE

 

Shareholder                                 Bandolera Holding N.V.

Vareseweg 85

3047AT ROTTERDAM

Netherlands

KvK: 24284986 Active since: 29-05-1998 Percentage: 100.00%

 

 

Ultimate parent company

 

Bandolera Investments B.V. Vareseweg 85

Holding company

3047AT ROTTERDAM KvK: 24438404 Bandolera Holding N.V. Vareseweg 85

3047AT ROTTERDAM KvK: 24284986

 

 

Affiliated companies                     Not The Same B.V.

Vareseweg 85 3047AT Rotterdam KvK: 24247904

Bandolera Retail B.V. Vareseweg 85

3047AT ROTTERDAM KvK: 24276887

Not The Same Retail B.V. Vareseweg 85

3047AT ROTTERDAM KvK: 24331972

 

 

Bandema B.V. Vareseweg 85

3047AT ROTTERDAM KvK: 24335855

MD Fashion Company B.V. Vareseweg 85

3047AT ROTTERDAM KvK: 34233854

 

Liability declaration                       Bandolera Holding N.V. (24284986)

Vareseweg 85

3047AT ROTTERDAM Since: 01-01-2004

 

Bank                                           ING Bank NV

Account number: 69.25.01.673

 

Real estate

Lease

 

The real estate is checked at the land registration office

 

Object code: OVERSCHIE E 446

 

Owner: REAL ESTATE FUNDAMENT FONDS NV

 

MANAGEMENT

 

Management

Bandolera Investments B.V.

 

Vareseweg 85

 

3047AT ROTTERDAM

 

Netherlands

 

KvK: 24438404

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 31-07-2008

 

 

PAYMENT INFORMATION

 

Payment experiences Payments

Payments are delayed

Based on multiple payment experiences up to € 25.000

 

Quarter: 4 2011: 37 Average days Quarter: 1 2012: 68 Average days Quarter: 2 2012: 116 Average days Quarter: 3 2012: 116 Average days

 

 

invoices

current quarter

2012 Q2

2012 Q1

2011 Q4

Total

68

100%

78.659

78.659

92.051

75.387

Within terms

36

46,3%

36.404

36.404

34.176

62.407

Delayed 0 - 30

 

10,3%

8.113

8.113

21.092

12.980

Delayed 31 - 60

8

0,0%

 

 

36.783

 

Delayed 61 - 90

 

22,2%

17.500

17.500

 

 

Delayed 91 - 120

 

8,5%

6.657

6.657

 

 

Delayed 120+ days

 

12,7%

9.985

9.985

 

 

 

 

FINANCIAL INFORMATION

 

 

 

Auditor

PricewaterhouseCoopers

Type of publication

Consolidated

Annual accounts van

Bandolera Holding N.V.

 

Vareseweg 85

 

3047AT ROTTERDAM

 

KvK: 24284986

Publication

Publication according to obligations by law

 

 

CORE FIGURES

 

 

 

 

 

BOOKYEAR

2010

2009

2008

Quick ratio

0,27

0,28

0,35

Current ratio

0,51

0,58

0,76

Nett workingcapital / Balance total

-0,48

-0,49

-0,21

Capital and reserves / Balance total

-0,45

-0,24

0,11

Capital and reserves / Fixed assets

-0,88

-0,75

0,31

Solvency

-0,31

-0,20

0,12

Nett workingcapital

-21.107.278

-16.175.000

-8.336.000

Capital and reserves

-19.780.145

-7.912.000

4.224.000

Change capital and reserves

-150,00%

-287,31%

-51,87%

change short term liabilities

10,26%

11,79%

425,79%

Operating profit

-10.740.434

-12.765.000

5.430.000

Nett Turnover

55.370.180

55.228.000

56.104.000

 

Annual accounts Last annual accounts    The published financial information is the consolidated group information.

2010

Type of publication Consolidated

 

Turnover                        2010: 55.370.180

2009: 55.228.000

2008: 56.104.000

2007: 45.597.000

2006: 33.905.000

 

Gross profit                   2009: 19.540.000

2007: 16.760.000

2006: 11.893.000

 

Operating profit

2010: -10.740.434

2009: -12.765.000

2008: 5.430.000

2007: 4.893.000

2006: 2.774.000

 

Result after taxes           2010: -13.669.576

2009: -12.023.000

2008: 2.046.000

2007: 3.278.000

2006: 1.832.000

 

 

 

 

 

 

Tendency          Changeable

 

 

 

 

BOOKYEAR

2010

2009

2008

End of bookyear

31-12-2010

31-12-2009

31-12-2008

Other intangible assets

 

3.398.000

5.990.000

Intangible assets

16.547.195

3.398.000

5.990.000

Tangible assets

5.961.395

7.173.000

7.609.000

Fixed assets

22.508.590

10.571.000

13.600.000

 

Stocks and work in progress

9.859.165

11.656.000

14.188.000

Trade debtors

 

 

8.467.000

Other amounts receivable

 

10.287.000

3.264.000

Accounts receivable

11.069.401

10.287.000

11.730.000

Liquid assets

634.315

580.000

362.000

Current assets

21.562.881

22.523.000

26.280.000

Total assets

44.071.471

33.094.000

39.880.000

 

Capital and reserves

-19.780.145

-7.912.000

4.224.000

Provisions

557.599

2.308.000

764.000

Long term liabilities

20.623.858

 

 

Other short term debts

 

38.698.000

28.607.000

Total short term debt

42.670.159

38.698.000

34.616.000

Total debt

63.851.616

38.698.000

35.380.000

Total Liabilities

44.071.471

33.094.000

39.880.000

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2010

2009

2008

Turnover

 

55.228.000

56.104.000

Nett Turnover

55.370.180

55.228.000

56.104.000

Cost of sales

34.718.994

 

 

Gross profit

20.651.186

19.540.000

 

Wages employees

10.943.141

10.712.000

7.685.000

Depreciation and amortization

6.523.849

5.266.000

1.655.000

Raw materials

 

 

32.658.000

Other operating charges

13.924.630

16.327.000

8.676.000

Operating charges

31.391.620

67.994.000

50.674.000

Operating profit

-10.740.434

-12.765.000

5.430.000

Financial income

210.515

 

103.000

Financial charges

1.987.032

1.274.000

1.168.000

Financial result

-1.776.517

-1.274.000

-1.065.000

Result participations

-165.335

 

 

Result before taxes

-12.682.286

-14.039.000

4.365.000

Income taxes

-755.864

-2.016.000

764.000

Result after taxes

-13.438.150

-12.023.000

3.601.000

Extraordinary charges

 

 

1.555.000

Extraordinary result

 

 

1.555.000

Taxes on extraordinary result

-231.426

 

-1.555.000

Extraordinary result after taxes

-231.426

 

-1.555.000

Nett result

-13.669.576

-12.023.000

2.046.000

 

History

 

Consent statements

Over bookyear 2010 a consent agreement is filed Over bookyear 2009 a consent agreement is filed

 

 

Company structure

• Bandolera Investments B.V. (24438404) ROTTERDAM

o Bandolera Holding N.V. (24284986)

ROTTERDAM

Subsidiary (100%)

Bandolera B.V. (24191591) Rotterdam Subsidiary

Not The Same B.V. (24247904) Rotterdam Subsidiary

Bandolera Retail B.V. (24276887) ROTTERDAM

Subsidiary

Not The Same Retail B.V. (24331972)

ROTTERDAM

Subsidiary

Bandema B.V. (24335855) ROTTERDAM

Subsidiary

MD Fashion Company B.V. (34233854) ROTTERDAM

Subsidiary

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.38

UK Pound

1

Rs.86.74

Euro

1

Rs.68.06

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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.