MIRA
INFORM REPORT
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Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
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Name : |
AVEBE UA |
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Registered Office : |
Transportweg 11 Veendam, 9645KZ |
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Country : |
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Financials (as on) : |
31.07.2011 |
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Date of Incorporation : |
16.12.2011 |
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Com. Reg. No.: |
02300804 |
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Legal Form : |
Private Parent |
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Line of Business : |
Manufacture of starches and starch products |
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No. of Employees : |
1,399 |
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 : |
Good |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
company name and address
Avebe UA
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Business Description
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AVEBE UA is a Netherlands-based company that delivers products based on
potato starch and protein. Its interests are divided into seven main markets.
AVEBE Food offers its products within the ELIANE brand. It produces noodles,
snacks, liquid and powdered products, creams and fillings. AVEBE Feed is a
provider of proteins and fibers to livestock and aquaculture farmers. AVEBE
Buildings creates starch ethers for the dry mortar industry and products
based on cement, gypsum and other building materials; it is represented by
the SOLVITOSE, OPAGEL, CASUCOL and FOXCRETE brands. AVEBE Adhesives offers
adhesive products, formulations and services. AVEBE Paper provides paper
production and logistics. AVEBE Textile offers potato starch-based chemicals
for the textile industry and modified starches for warp yarn sizing. AVEBE
Specialties offers starches for the oil, water purification and mining
industries. |
Industry
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Industry |
Food Processing |
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ANZSIC 2006: |
1161 - Grain Mill Product Manufacturing |
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NACE 2002: |
1562 - Manufacture of starches and starch
products |
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NAICS 2002: |
311221 - Wet Corn Milling |
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1562 - Manufacture of starches and starch
products |
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US SIC 1987: |
2046 - Wet Corn Milling |
Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7275896
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6958942
Corporate Overview
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Corporate Structure News
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Veendam |
Netherlands |
Food Processing |
777.0 |
1,399 |
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Subsidiary |
Karstädt, Brandenburg |
Germany |
Food Processing |
76.6 |
122 |
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Subsidiary |
Meerbusch, Nordrhein-Westfalen |
Germany |
Food Processing |
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35 |
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Subsidiary |
Courcouronnes |
France |
Miscellaneous Capital Goods |
1.7 |
14 |
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Subsidiary |
Veendam, Groningen |
Netherlands |
Food Processing |
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1 |
Executives Report
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Annual Profit & Loss
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31-Jul-2011 |
31-Jul-2010 |
31-Jul-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) |
0.72759 |
0.727556 |
0.737573 |
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Consolidated |
Yes |
Yes |
Yes |
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Total income |
794.8 |
680.0 |
812.5 |
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Net sales |
777.0 |
717.2 |
788.9 |
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Change in stock |
6.9 |
-47.4 |
13.5 |
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Own work capitalised |
2.6 |
2.5 |
2.6 |
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Other operating income |
8.2 |
7.7 |
7.4 |
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Total operating costs |
744.1 |
664.9 |
791.3 |
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Net operating income |
50.6 |
15.1 |
21.2 |
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Total financial income |
3.7 |
2.4 |
0.2 |
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Total expenses |
11.8 |
13.3 |
13.0 |
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Profit before tax |
42.6 |
4.1 |
8.4 |
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Profit attributable to minority interest shareholdings |
-0.2 |
-0.5 |
-0.2 |
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Profit on ordinary activities after tax |
27.2 |
3.8 |
6.4 |
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Extraordinary expenses |
- |
- |
2.1 |
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Extraordinary result |
- |
- |
-2.1 |
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Profit after extraordinary items and before tax |
- |
- |
-2.1 |
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Total taxation |
15.2 |
-0.2 |
1.8 |
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Profit after tax |
27.2 |
3.8 |
6.4 |
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Net profit |
27.2 |
3.8 |
4.3 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Jul-2011 |
31-Jul-2010 |
31-Jul-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.695894 |
0.767578 |
0.705343 |
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Consolidated |
Yes |
Yes |
Yes |
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Provisions and allowances |
41.4 |
21.9 |
38.4 |
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Total long-term liabilities |
- |
- |
13.7 |
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Trade creditors |
78.8 |
55.1 |
93.4 |
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Total current liabilities |
262.4 |
236.3 |
323.8 |
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Total liabilities (including net worth) |
560.7 |
489.9 |
607.6 |
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Intangibles |
1.7 |
2.1 |
2.4 |
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Total tangible fixed assets |
217.8 |
194.6 |
225.4 |
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Total asset investment |
30.3 |
39.6 |
41.7 |
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Total non-current assets |
249.8 |
236.4 |
269.5 |
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Net stocks and work in progress |
172.7 |
151.6 |
216.7 |
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Trade debtors |
109.5 |
85.2 |
109.6 |
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Other receivables |
23.3 |
13.8 |
9.6 |
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Total receivables |
132.8 |
99.0 |
119.2 |
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Cash and liquid assets |
5.4 |
3.0 |
2.3 |
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Total current assets |
310.9 |
253.6 |
338.1 |
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Total assets |
560.7 |
489.9 |
607.6 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Jul-2011 |
31-Jul-2010 |
31-Jul-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 |
0.695894 |
0.767578 |
0.705343 |
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Consolidated |
Yes |
Yes |
Yes |
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Current ratio |
1.20 |
1.10 |
1.00 |
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Acid test ratio |
0.50 |
0.40 |
0.40 |
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Current liabilities to net worth |
1.03% |
1.03% |
1.41% |
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Fixed assets to net worth |
0.98% |
1.03% |
1.18% |
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Collection period |
49.20 |
45.70 |
48.50 |
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Stock turnover rate |
4.70 |
4.50 |
3.80 |
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Sales to net working capital |
16.70 |
39.30 |
57.40 |
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Asset turnover |
1.45% |
1.39% |
1.37% |
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Profit margin |
0.06% |
0.01% |
0.01% |
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Return on assets |
0.08% |
0.01% |
0.01% |
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Sales per employee |
415.37 |
372.97 |
405.78 |
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Profit per employee |
22.76 |
2.13 |
4.34 |
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Return on capital |
0.11% |
-0.03% |
-0.03% |
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Net worth |
255.2 |
229.6 |
229.3 |
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Number of employees |
1,361 |
1,399 |
1,434 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.01 |
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1 |
Rs.87.85 |
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Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
-- |
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.