MIRA
INFORM REPORT
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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
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Name : |
REHAMIJ |
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Registered Office : |
Ambachtstraat 10, 2861EX Bergambacht |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.05.2012 |
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Com. Reg. No.: |
55397204 |
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Legal Form : |
Private Company |
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Line of Business : |
importer, exporter,
manufacturer and trader of leather goods, work gloves,
workwear, rainwear, footwear and safety equipment in the workplace. |
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No. of Employees : |
34 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Netherlands ECONOMIC OVERVIEW
The Dutch economy is the
sixth-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 in 2011. In 2012 tax revenues dropped
nearly 9%, GDP contracted, and the budget deficit deteriorated. Although
jobless claims continued to grow, the unemployment rate remained relatively low
at 6.8 percent.
Source : CIA
Company summary
Company name Rehamij Nederland B.V.
Operative address Ambachtstraat 10
2861EX Bergambacht
Netherlands
Status Active
Legal form Besloten
Vennootschap (Private Company)
Registration number KvK-nummer:
55397204
VAT-number 851688251
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
2.937.685 |
-9,90 |
3.260.414 |
-10,21 |
3.631.338 |
|
Total
receivables |
1.475.194 |
-21,24 |
1.872.986 |
-41,30 |
3.190.910 |
|
Total equity |
861.469 |
-12,55 |
985.097 |
23,10 |
800.228 |
|
Short term
liabilities |
4.389.839 |
-30,19 |
6.288.539 |
-6,74 |
6.743.216 |
|
Net result |
-123.628 |
-166,87 |
184.869 |
15,06 |
160.678 |
|
Working
capital |
-147.884 |
-56,80 |
-94.313 |
56,56 |
-217.120 |
|
Quick ratio |
0,34 |
13,33 |
0,30 |
-36,17 |
0,47 |
contact information
Company name Rehamij Nederland
B.V.
Trade names Rehamij Nederland
B.V.
Operative address Ambachtstraat 10
2861EX Bergambacht
Netherlands
Correspondence address Postbus 90
2860AB Bergambacht
Netherlands
Telephone number 0182353841
Website www.rehamij.nl
Registration
Registration number KvK-nummer:
55397204
Registered in Kamer van
Koophandel Rotterdam
Branch number 000025051903
VAT-number 851688251
Status Active
First registration company
register 2012-05-31
Memorandum 2012-05-21
Establishment date 2012-05-22
Legal form Besloten
Vennootschap (Private Company)
Activities
SBI Wholesale of work
wear (46422)
Wholesale of
footwear (46424)
Exporter No
Importer No
Goal De im- en export,
fabricage en (groot) handel in lederwaren, werkhandschoenen,
bedrijfskleding,
regenkleding, schoeisel en veiligheidsartikelen in de werksfeer.
(importer, exporter, manufacturer and trader of leather goods, work gloves, workwear, rainwear, footwear and safety equipment in the workplace.)
Relations
Shareholders
Rehamij Beheer B.V.
Ambachtstraat 10
2861EX Bergambacht
Netherlands
Registration number: 290303210000
Percentage: 100.00%
Companies on same address
Rehamij Trading B.V.
Registration number: 242663770000
Rehamij Holding B.V.
Registration number: 290303220000
Rehamij Beheer B.V.
Registration number: 290303210000
Stichting Administratiekantoor Aandelen Rehamij Holding
Registration number: 243375490000
Liability statements
Rehamij Holding B.V.
Ambachtstraat 10
2861EX BERGAMBACHT
Netherlands
Registration number: 290303220000
date of issue: 2013-04-10
Starting date: 2012-05-21
Management
Active management
A. de Kraaij (Arie)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2012-05-22
Date of birth: 1941-11-20, Rotterdam, NL
Involved with the following companies
Rehamij Beheer B.V.
Ambachtstraat 10
2861EX Bergambacht
Netherlands
Registration number: 290303210000
Function: Manager
J.C. de Kraaij - van Felius (Jacqueline Christine)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2012-05-22
Date of birth: 1961-05-23, Rotterdam, NL
Employees
Total according to the Chamber of Commerce 34
Year 2013
Total 34
Payments
Description The payments are
slightly delayed
Key figures
Year 2012
2011 2010 2009 2008
Quick ratio 0,34
0,30 0,47 0,40 0,43
Current ratio 0,97
0,99 0,97 0,91 1,04
Working capital/ balance total -0,02 -0,01 -0,02 -0,06 0,02
Equity / balance total 0,12
0,10 0,08 0,06 0,13
Equity / Fixed assets 0,29
0,30 0,22 0,15 0,38
Equity / liabilities 0,14
0,12 0,09 0,06
0,14
Balance total / liabilities 1,14 1,12
1,09 1,06 1,14
Working capital -147.884 -94.313 -217.120 -638.964
343.045
Equity 861.469
985.097 800.228 639.550 1.740.448
Mutation equity -12,55
23,10 25,12 -63,25
-14,65
Mutation short term liabilities -30,19 -6,74 -7,90 -17,72 10,96
Return on total assets (ROA) -2,15 2,43 1,62 -12,78
-3,35
Return on equity (ROE) -17,95 23,36 20,61 -217,40
-26,68
Gross profit margin -4,16
Net profit margin -5,26
Average collection ratio 2,86
Average payment ratio 7,10
Equity turnover ratio 32,71
Total assets turnover ratio 1,92
Fixed assets turnover ratio 4,99
Inventory conversion ratio 5,60
Turnover 20.916.798
Gross margin 3.283.968 3.910.554 4.703.557 4.354.862
6.208.381
Operating result 181.596
582.838 565.478 -869.994 39.672
Net result after taxes -123.628 184.869 160.678 -1.100.898
-353.096
Cashflow 229.893
579.508 689.697 -549.877
EBIT 181.596
582.838 565.478 -869.994 39.672
EBITDA 535.117 977.477 1.094.497 -318.973
Summary
The 2012 financial result structure is a negative working capital of
-147.884 euro, which is in
agreement with -2 % of the total assets of the company.
The working capital has diminished with -56.8 % compared to previous
year. The ratio, with
respect to the total assets of the company has however, declined.
The deterioration between 2011 and 2012 has mainly been caused by an
increase of the
current liabilities.
The current ratio of the company in 2012 was 0.97. When the current
ratio is below 1.5, the
company may have problems meeting its short-term obligations.
The quick ratio in 2012 of the company was 0.34. A company with a Quick
Ratio of less than
1 cannot currently pay back its current liabilities.
The 2011 financial result structure is a negative working capital of
-94.313 euro, which is in
agreement with -1 % of the total assets of the company.
The working capital has increased with 56.56 % compared to previous
year. The ratio, with
respect to the total assets of the company has however, increased.
The improvement between 2010 and 2011 has mainly been caused by an
increase of the
current assets.
The current ratio of the company in 2011 was 0.99. When the current
ratio is below 1.5, the
company may have problems meeting its short-term obligations.
The quick ratio in 2011 of the company was 0.3. A company with a Quick
Ratio of less than 1
cannot currently pay back its current liabilities.
Financial statement
Type of annual account Consolidated
Annual account Rehamij
Holding B.V.
Ambachtstraat 10
2861EX BERGAMBACHT
Netherlands
Registration
number: 290303220000
Balance sheet
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Intangible fixed assets |
2.842 |
15.099 |
27.356 |
92.912 |
101.394 |
|
Tangible fixed assets |
2.934.843 |
3.245.315 |
3.603.982 |
4.101.317 |
4.522.309 |
|
Fixed assets |
2.937.685 |
3.260.414 |
3.631.338 |
4.194.229 |
4.623.703 |
|
|
|||||
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Inventories |
2.765.504 |
4.320.358 |
3.334.273 |
3.734.714 |
5.454.680 |
|
Accounts receivable |
1.155.441 |
1.467.292 |
2.429.215 |
2.213.373 |
2.930.312 |
|
Other receivables |
319.753 |
405.694 |
761.695 |
731.064 |
853.014 |
|
Total receivables |
1.475.194 |
1.872.986 |
3.190.910 |
2.944.437 |
3.783.326 |
|
Liquid funds |
1.257 |
882 |
913 |
3.823 |
3.785 |
|
Current assets |
4.241.955 |
6.194.226 |
6.526.096 |
6.682.974 |
9.241.791 |
|
Total assets |
7.179.640 |
9.454.640 |
10.157.434 |
10.877.203 |
13.865.494 |
|
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Total equity |
861.469 |
985.097 |
800.228 |
639.550 |
1.740.448 |
|
Provisions |
|
|
180.314 |
229.367 |
282.723 |
|
Long term liabilities |
1.928.332 |
2.181.004 |
2.433.676 |
2.686.348 |
2.943.577 |
|
Accounts payable |
918.507 |
1.690.650 |
1.884.036 |
2.159.766 |
3.210.543 |
|
Other short term liabilities |
3.471.332 |
4.597.889 |
4.859.180 |
5.162.172 |
5.688.203 |
|
Short term liabilities |
4.389.839 |
6.288.539 |
6.743.216 |
7.321.938 |
8.898.746 |
|
Total short and long term liabilities |
6.318.171 |
8.469.543 |
9.357.206 |
10.237.653 |
12.125.046 |
|
Total liabilities |
7.179.640 |
9.454.640 |
10.157.434 |
10.877.203 |
13.865.494 |
Summary
The total assets of the company decreased with -24.06 % between 2011 and
2012.
This total assets decrease has been reflected in a reduction of non
current assets of -9.9 %.
Assets reduction is explained by a Net Worth decrease of -12.55 %, and
an indebtedness
reduction of -25.4 %.
In 2012 the assets of the company were 40.92 % composed of fixed assets
and 59.08 % by
current assets. The assets are being financed by an equity of 12 %, and
total debt of 88 %.
The total assets of the company decreased with -6.92 % between 2010 and
2011.
This downturn is mainly retrievable in the fixed asset decrease of
-10.21 %.
The asset reduction is in contrast with the equity growth of 23.1 %. Due
to this the total debt
decreased with -9.49 %.
In 2011 the assets of the company were 34.48 % composed of fixed assets
and 65.52 % by
current assets. The assets are being financed by an equity of 10.42 %,
and total debt of
89.58 %.
Profit & loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
|
|
|
20.916.798 |
|
|
Net turnover |
|
20.916.798 |
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||
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|||||
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Gross margin |
3.283.968 |
3.910.554 |
4.703.557 |
4.354.862 |
6.208.381 |
|
|
|||||
|
Wages and salaries |
1.730.258 |
1.824.008 |
2.224.139 |
2.500.607 |
|
|
Amorization and depreciation |
353.521 |
394.639 |
529.019 |
551.021 |
|
|
Sales |
|
|
|
16.561.936 |
6.168.709 |
|
other operating costs |
1.018.593 |
1.109.069 |
1.384.921 |
2.173.228 |
|
|
Operating expenses |
3.102.372 |
3.327.716 |
4.138.079 |
21.786.792 |
6.168.709 |
|
Operating result |
181.596 |
582.838 |
565.478 |
-869.994 |
39.672 |
|
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Financial income |
4.982 |
7.347 |
9.055 |
13.615 |
20.358 |
|
Financial expenses |
341.208 |
360.039 |
409.575 |
534.022 |
524.356 |
|
Financial result |
-336.226 |
-352.692 |
-400.520 |
-520.407 |
-503.998 |
|
Result on ordinary operations before taxes |
-154.630 |
230.146 |
164.958 |
-1.390.401 |
-464.326 |
|
|
|||||
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Taxation on the result of
ordinary activities |
-31.002 |
45.277 |
4.280 |
-287.816 |
-111.230 |
|
Result of ordinary activities after taxes |
-123.628 |
184.869 |
160.678 |
-1.102.585 |
-353.096 |
|
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|||||
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Extraordinary income |
|
|
|
1.687 |
|
|
Extraordinary result after
taxation |
|
|
|
1.687 |
|
|
Net result |
-123.628 |
184.869 |
160.678 |
-1.100.898 |
-353.096 |
Summary
The gross profit of the company decreased by -16.02 % between 2011 and 2012.
The operating result of the company declined with -68.84 % between 2011
and 2012. This
evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability
of -188.48
% of the analysed period, being equal to 2011 % in the year 2012.
The Net Result of the company increased by -166.87 % between 2011 and
2012.
The company's Financial Profitability has been positively affected by
the financial activities in
comparison to the EBITs behaviour. The result of these variations is a
profitability increase of
-176.84 % of the analysed period, being -17.95 % in the year 2012.
The company's financial profitability has been positively affected by
its financial structure.
The gross profit of the company decreased by -16.86 % between 2010 and
2011.
The operating result of the company grew with 3.07 % between 2010 and
2011. This
evolution implies an increase of the company's economic profitability.
The result of these changes is an increase of the company's Economic
Profitability of 50 % of
the analysed period, being equal to 2010 % in the year 2011.
The Net Result of the company decreased by 15.06 % between 2010 and
2011.
The company's Financial Profitability has been negatively affected by
the financial activities in
comparison to the EBITs behaviour. The result of these variations is a
profitability reduction
of 13.34 % of the analysed period, being 23.36 % in the year 2011.
The company's financial structure has slowed
down its financial profitability.
Analysis
Branch (SBI)
Groothandel
en Wholesale on a fee or contract basis (niet in auto’s en
motorfietsen) (46)
Region Zuid-Holland Oost
In the Netherlands 107516 of the companies
are registered with the SBI code 46
In the region Zuid-Holland Oost 4923 of the
companies are registered with the SBI code 46
In the Netherlands 2108 of the bankrupcties
are published within this sector
In the region Zuid-Holland Oost 71 of the
bankruptcies are published within this sector
The risk of this specific sector in the
Netherlands is normal
The risk of this specific sector in the
region Zuid-Holland Oost is normal
Publications
Consent statements 05-08-2013: Voor
boekjaar 2012 is een instemmingsverklaring gedeponeerd.
Liability statements 11-04-2013: Per
10-04-2013 is een aansprakelijkheidsverklaring door Rehamij Holding
B.V. gedeponeerd.
Functions 01-06-2012: Per 22-05-2012
is bestuurder Arie de Kraaij in functie getreden.
01-06-2012: Per 22-05-2012 is bestuurder
Jacqueline Christine de Kraaij-van Felius in functie getreden.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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.