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Report Date : |
07.02.2013 |
IDENTIFICATION DETAILS
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Name : |
EUROPEAN METAL RECYCLING B.V. |
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Registered Office : |
Quebecstraat 3Havennr-4522
Botlek Rotterdam, 3197 KL |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.02.1994 |
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Com. Reg. No.: |
20070123 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of waste and scrap |
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No. of Employees : |
19 |
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 : |
Satisfactory |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Netherlands |
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 |
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
European Metal Recycling B.V.
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Business Description
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European Metal Recycling B.V. is primarily
engaged in wholesale (purchase and sale) of metal and non-metal waste and scrap
and materials for recycling, including collecting, sorting, separating,
stripping of used goods such as cars in order to obtain reusable parts, (re)
packing, storage and delivery, but without a real transformation process.
Additionally the purchased and sold waste has a remaining value; and
dismantling of end-of-life vehicles (dismantling of cars; wholesale in car
wrecks; sale of parts from wrecks to private persons and professional users). |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
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European Metal Recycling B.V. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Botlek Rotterdam, Zuid-Holland |
Netherlands |
Miscellaneous Financial Services |
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Subsidiary |
Hamburg, Hamburg |
Germany |
Waste Management Services |
107.5 |
40 |
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Subsidiary |
Botlek Rotterdam, Zuid-Holland |
Netherlands |
Waste Management Services |
263.3 |
19 |
Executives Report
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Net sales |
263.3 |
246.8 |
351.0 |
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Cost of goods sold |
219.8 |
221.8 |
413.4 |
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Cost of sales |
219.8 |
221.8 |
413.4 |
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Gross profit |
43.5 |
25.0 |
-62.4 |
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Total payroll costs |
2.5 |
2.3 |
2.4 |
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Change in value of fixed assets arising
from revaluation |
1.6 |
1.7 |
1.4 |
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Other operating costs |
7.0 |
6.2 |
9.8 |
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Net operating income |
32.4 |
14.9 |
- |
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Total financial income |
0.7 |
- |
- |
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Total expenses |
0.1 |
3.1 |
3.1 |
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Profit before tax |
33.0 |
11.8 |
- |
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Profit on ordinary activities after tax |
24.0 |
8.8 |
-59.3 |
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Extraordinary income |
0.0 |
- |
1.0 |
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Extraordinary expenses |
- |
0.0 |
- |
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Extraordinary result |
0.0 |
0.0 |
1.0 |
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Profit after extraordinary items and before
tax |
0.0 |
0.0 |
1.0 |
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Other taxes |
- |
- |
-0.7 |
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Total taxation |
9.0 |
3.0 |
-19.6 |
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Profit after tax |
24.0 |
8.8 |
-59.3 |
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Net profit |
24.0 |
8.8 |
- |
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Net loss |
- |
- |
-57.6 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Share premium account |
78.3 |
83.8 |
- |
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Other reserves |
8.9 |
0.5 |
55.2 |
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Profit brought forward from previous
year(s) |
24.3 |
9.0 |
- |
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Total stockholders equity |
111.6 |
93.3 |
0.5 |
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Provisions and allowances |
3.1 |
3.8 |
3.9 |
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Trade creditors |
7.1 |
4.0 |
1.3 |
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Total current liabilities |
14.8 |
13.4 |
116.6 |
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Total liabilities (including net worth) |
129.5 |
110.5 |
121.0 |
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Total tangible fixed assets |
7.6 |
9.2 |
8.7 |
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Total asset investment |
- |
10.0 |
18.8 |
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Total non-current assets |
7.6 |
19.2 |
27.5 |
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Net stocks and work in progress |
63.3 |
52.7 |
90.7 |
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Trade debtors |
21.0 |
2.4 |
1.5 |
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Other receivables |
34.8 |
36.2 |
1.2 |
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Total receivables |
55.8 |
38.6 |
2.8 |
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Cash and liquid assets |
2.8 |
0.0 |
0.0 |
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Total current assets |
121.9 |
91.3 |
93.4 |
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Total assets |
129.5 |
110.5 |
121.0 |
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Annual Ratios |
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Financials in: USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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 |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
8.20 |
6.80 |
0.80 |
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Acid test ratio |
4.00 |
2.90 |
- |
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Current liabilities to net worth |
0.13% |
0.14% |
10.00% |
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Fixed assets to net worth |
0.07% |
0.21% |
10.00% |
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Collection period |
28.70 |
3.40 |
1.70 |
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Stock turnover rate |
4.20 |
4.80 |
3.70 |
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Sales to net working capital |
2.50 |
3.30 |
-14.40 |
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Asset turnover |
2.06% |
2.30% |
2.76% |
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Profit margin |
0.13% |
0.05% |
-0.23% |
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Return on assets |
0.26% |
0.11% |
-0.62% |
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Shareholders' return |
0.30% |
0.13% |
-10.00% |
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Sales per employee |
9,940.12 |
8,451.10 |
10,433.50 |
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Profit per employee |
1,245.50 |
402.34 |
-2,347.57 |
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Return on capital |
0.29% |
0.09% |
-10.00% |
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Average wage per employee |
92.93 |
78.68 |
69.95 |
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Net worth |
111.6 |
93.3 |
0.5 |
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Number of employees |
20 |
21 |
23 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.08 |
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1 |
Rs.83.12 |
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Euro |
1 |
Rs.72.02 |
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.