MIRA INFORM REPORT
|
Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
Tradin Organic
Agriculture B.V. |
|
|
|
|
Registered Office : |
Prins Hendrikkade 14, Amsterdam, 1012 TL |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
14.08.1985 |
|
|
|
|
Com. Reg. No.: |
32039960 |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
wholesaler of grain, seeds and animal feeds |
|
|
|
|
No. of Employees : |
39 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
Company
name & address
Tradin Organic Agriculture B.V.
Prins Hendrikkade 14
Amsterdam, 1012 TL
Netherlands
Tel: +31 020-4074499
Fax: +31 020-4972100
Synthesis
Employees: 39
Company Type: Private Subsidiary
Corporate Family: 4
Companies
Ultimate Parent: Cooperatie
Sunopta Ua
Incorporation Date:
14-Aug-1985
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 81.6
Total Assets: 40.3
Business
Description
Tradin Organic Agriculture B.V. is primarily engaged in wholesale of grain, seeds and animal feeds. This class also includes: wholesale of seed potatoes; wholesale of feed for farm animals; and wholesale of material, residues and by-products used for animal feed.
Industry
Industry Crops
ANZSIC 2006: 3312 - Cereal Grain
Wholesaling
NACE 2002: 5121 - Wholesale
of grain, seeds and animal feeds
NAICS 2002: 424510 - Grain and
Field Bean Merchant Wholesalers
UK SIC 2003: 5121 - Wholesale
of grain, seeds and animal feeds
UK SIC 2007: 4621 - Wholesale
of grain, unmanufactured tobacco, seeds and animal feeds
US SIC 1987: 5191 - Farm
Supplies
Key
Executives
|
Name |
Title |
|
Gerardus Versteegh |
Managing director |
|
Y. Kresinger |
Marketing manager |
|
H. Smid |
EDP manager |
|
L. Kindsbergen |
Head of accounting department |
|
K. Van Der Brink |
Personnel manager |
NEWS
|
Title |
Date |
|
FORM 8-K: SUNOPTA FILES CURRENT REPORT |
2-Oct-2012 |
Registered No.(NLD): 32039960
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate
Overview
Location
Prins Hendrikkade 14
Amsterdam, 1012 TL
Netherlands
Tel: +31 020-4074499
Fax: +31 020-4972100
Sales EUR(mil): 61.6
Assets EUR(mil): 30.0
Employees: 39
Fiscal Year End: 31-Dec-2010
Industry: Crops
Incorporation Date: 14-Aug-1985
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(NLD): 32039960
Managing director: Gerardus
Versteegh
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3312 - Cereal Grain Wholesaling
NACE 2002 Codes:
5121 - Wholesale of grain, seeds and animal feeds
NAICS 2002 Codes:
424510 - Grain and Field Bean Merchant Wholesalers
US SIC 1987:
5191 - Farm Supplies
UK SIC 2003:
5121 - Wholesale of grain, seeds and animal feeds
UK SIC 2007:
4621 - Wholesale of grain, unmanufactured tobacco, seeds and
animal feeds
Business
Description
Tradin Organic Agriculture B.V. is primarily engaged in wholesale of grain, seeds and animal feeds. This class also includes: wholesale of seed potatoes; wholesale of feed for farm animals; and wholesale of material, residues and by-products used for animal feed.
|
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate
Structure News: |
|
Tradin
Organic Agriculture B.V. |
|
|
Tradin Organic Agriculture B.V. |
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
CoOperatie Sunopta Ua |
Parent |
||||||
|
The Organic Corporation B.V. |
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
|||
|
Sunopta Foods Europe B.V. |
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Crops |
1 |
||
|
Tradin Organic Agriculture B.V. |
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Crops |
81.6 |
EXECUTIVE
REPORT
|
Board
of Directors |
|
|
|
||||
|
Member of the board |
Director/Board Member |
||||
|
Member of the board |
Director/Board Member |
||||
|
Member of the board |
Director/Board Member |
||||
|
Member of the board |
Director/Board Member |
||||
|
Member of the board |
Director/Board Member |
||||
|
Member of the board |
Director/Board Member |
|
Executives |
|
|
|
||||
|
Managing director |
Managing Director |
||||
|
Head of accounting department |
Accounting Executive |
||||
|
Personnel manager |
Human Resources Executive |
||||
|
Sales manager |
Sales Executive |
||||
|
Marketing manager |
Marketing Executive |
||||
|
EDP manager |
Information Executive |
ANNUAL
profit & loss
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Net sales |
81.6 |
79.4 |
88.0 |
|
Cost of goods sold |
72.8 |
71.8 |
79.2 |
|
Cost of sales |
72.8 |
71.8 |
79.2 |
|
Gross profit |
8.8 |
7.6 |
8.8 |
|
Total payroll costs |
3.1 |
3.3 |
3.0 |
|
Change in value of fixed assets arising
from revaluation |
0.1 |
- |
- |
|
Other operating costs |
2.7 |
2.1 |
2.5 |
|
Net operating
income |
2.9 |
2.2 |
3.3 |
|
Total financial
income |
0.7 |
0.2 |
1.3 |
|
Total expenses |
0.5 |
0.8 |
1.5 |
|
Profit before tax |
3.1 |
1.6 |
3.1 |
|
Profit on ordinary activities after tax |
2.3 |
1.3 |
2.3 |
|
Total taxation |
0.8 |
0.4 |
0.8 |
|
Profit after tax |
2.3 |
1.3 |
2.3 |
|
Net profit |
2.3 |
1.3 |
2.3 |
Annual
Balance Sheet
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Other reserves |
12.9 |
11.4 |
9.7 |
|
Total
stockholders equity |
13.0 |
11.4 |
9.8 |
|
Trade creditors |
4.0 |
4.6 |
2.6 |
|
Total current
liabilities |
27.3 |
20.5 |
30.6 |
|
Total
liabilities (including net worth) |
40.3 |
31.9 |
40.4 |
|
Intangibles |
0.1 |
0.1 |
- |
|
Total tangible fixed
assets |
0.2 |
0.2 |
0.3 |
|
Total
non-current assets |
0.3 |
0.3 |
0.3 |
|
Net stocks and work in progress |
21.5 |
13.5 |
20.9 |
|
Trade debtors |
7.8 |
8.7 |
9.1 |
|
Other receivables |
10.6 |
8.9 |
9.8 |
|
Total
receivables |
18.4 |
17.6 |
18.9 |
|
Cash and liquid assets |
0.1 |
0.5 |
0.3 |
|
Total current
assets |
40.0 |
31.6 |
40.0 |
|
Total assets |
40.3 |
31.9 |
40.4 |
Annual
Ratios
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.50 |
1.50 |
1.30 |
|
Acid test ratio |
0.70 |
0.90 |
0.60 |
|
Current liabilities to net worth |
2.12% |
1.82% |
3.13% |
|
Fixed assets to net worth |
0.02% |
0.03% |
0.04% |
|
Collection period |
34.30 |
38.60 |
39.60 |
|
Stock turnover rate |
3.80 |
6.10 |
4.00 |
|
Sales to net working capital |
6.50 |
7.40 |
8.90 |
|
Asset turnover |
2.05% |
2.57% |
2.07% |
|
Profit margin |
0.04% |
0.02% |
0.04% |
|
Return on assets |
0.08% |
0.05% |
0.07% |
|
Shareholders' return |
0.24% |
0.15% |
0.30% |
|
Sales per employee |
1,579.01 |
1,463.14 |
1,718.87 |
|
Profit per employee |
59.06 |
30.38 |
61.01 |
|
Return on capital |
0.20% |
0.08% |
0.16% |
|
Average wage per employee |
59.60 |
61.18 |
58.50 |
|
Net worth |
12.9 |
11.3 |
9.8 |
|
Number of employees |
39 |
39 |
35 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.04 |
|
UK Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
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 |
|
---- |
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.