MIRA
INFORM REPORT
|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
EUROPEAN METAL RECYCLING
B.V. |
|
|
|
|
Registered Office : |
Quebecstraat 3 HAVENNR-4522
3197KL Botlek Rotterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
20.08.1993 |
|
|
|
|
Com. Reg. No.: |
20070123 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale Trade and Commission Trade |
|
|
|
|
No. of Employees : |
19 |
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 : |
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 |
CONTACTINFORMATION
|
Company
name |
EUROPEAN METAL RECYCLING B.V. |
|
Tradename |
European Metal Recycling B.V. |
|
Address |
Quebecstraat
3 HAVENNR-4522 3197KL Botlek Rotterdam Netherlands |
|
Mail
address |
Postbus
1063 3180AB Rozenburg Zh Netherlands |
|
Telephone
number |
0181291212 |
|
Telefax
number |
0181291234 |
|
E-mail
address |
|
|
Website |
|
|
VAT
number / RSIN |
801902034 |
|
Branch(es) |
European
Metal Recycling B.V. (20070123.0001) Amerikahavenweg 3 1045AA AMSTERDAM |
COMPANY INFORMATION
Handelsregisternummer 20070123
Registered in Chamber
of commerce Rotterdam
First registration 25-02-1994
Act of foundation 21-02-1994
Date of constitution 20-08-1993
Continuation date 21-02-1994
Last change in statutes 05-04-2012
Legal form Private Company
Place of constitution Rotterdam
Capital EUR
Issued capital EUR
45.378,02
Paid up capital EUR
45.378,02
NACE-code WHOLESALE
TRADE AND COMMISSION TRADE (51)
Wholesale of iron
and steel scrap and used nonferrous metals (51572)
SBI-code Wholesale
trade (no motor vehicles and motorcycles) (46)
Wholesale of iron
and steel scrap and used nonferrous metals (46772)
Formal objective Koop
en sales, import en export van (ijzer)schroot.
|
Employees |
Total: 19 |
|
|
|
Employees
according to CoC |
Chamber of commerce: 19 |
|
|
|
Bookyear |
2013 |
2012 |
2011 |
|
Number |
19 |
19 |
19 |
|
Change |
0,00% |
0,00% |
-5,00% |
COMPANY STRUCTURE
|
Shareholder |
EMR Activities of holding companies B.V. |
|
|
Quebecstraat 3 |
|
|
3197KL BOTLEK ROTTERDAM |
|
|
Netherlands |
|
|
KvK: 24320247 |
|
|
Active since: 17-07-2001 |
|
|
Percentage: 100.00% |
|
Ultimate parent
company |
European Metal Recycling Limit |
|
|
990004740373 |
|
Holding
company |
EMR Activities of holding companies B.V. |
|
|
Quebecstraat 3 |
|
|
3197KL BOTLEK ROTTERDAM |
|
|
KvK: 24320247 |
|
Affiliated
companies |
International Metal & Steel B.V. |
|
|
Quebecstraat 3 |
|
|
3197KL BOTLEK ROTTERDAM |
|
|
KvK: 24435887 |
Bank ING Bank NV
Account number: 65.56.55.654
ING Bank NV
Account number:
68.44.93.543
Real estate Lease
MANAGEMENT
|
Management |
T.J. Jager |
|
|
Tjeerd Jan |
|
|
Authorization: Jointly authorized |
|
|
Position: Manager |
|
|
Date appointed: 28-02-2001 |
|
|
Date of birth: 04-12-1963 |
|
|
C.P. Sheppard |
|
|
Christopher Phillip |
|
|
Authorization: Jointly authorized |
|
|
Position: Manager |
|
|
Date appointed: 31-01-2008 |
|
|
Date of birth: 07-07-1974 |
|
|
M.I. Sparrius |
|
|
Marten IJpe |
|
|
Authorization: Jointly authorized |
|
|
Position: Manager |
|
|
Date appointed: 16-07-2002 |
|
|
Date of birth: 26-06-1965 |
PAYMENT INFORMATION
Payment experiences According
to terms
Payments Based
on multiple payment experiences up to € 50.000
Quarter: 2 2012: 30 Average days
Quarter: 3 2012: 30 Average days
Quarter: 4 2012: 30 Average days
Quarter: 1 2013: 30 Average days
|
|
invoices |
current
quarter |
2012 Q4 |
2012 Q3 |
2012 Q2 |
|
|
Total |
69 |
100% |
183.282 |
240.824 |
213.119 |
220.390 |
|
Within
terms |
68 |
100,0% |
183.282 |
240.824 |
213.119 |
210.987 |
|
Delayed 0
- 30 |
1 |
0,0% |
|
|
|
9.403 |
|
Delayed 31
- 60 |
|
|
|
|
|
|
|
Delayed
61-90 |
|
|
|
|
|
|
|
Delayed
91-120 |
|
|
|
|
|
|
|
Delayed
120 + days |
|
|
|
|
|
|
FINANCIAL INFORMATION
|
Auditor |
PricewaterhouseCoopers |
|
Publication
financial statement |
Annual
accounts 2010 are published on 09-03-2012 |
|
|
Annual
accounts 2009 are published on 10-02-2011 |
|
|
Annual
accounts 2008 are published on 16-02-2010 |
|
|
Annual
accounts 2007 are published on 11-02-2009 |
|
Type
of publication |
Corporate |
|
Publication |
Publication
according to obligations by law |
CORE FIGURES
|
BOOKYEAR |
2010 |
2009 |
2008 |
|
Quick
ratio |
3,95 |
2,88 |
0,02 |
|
Current
ratio |
8,21 |
6,80 |
0,80 |
|
Nett
workingcapital / Balance total |
0,83 |
0,70 |
-0,19 |
|
Capital
and reserves / Balance total |
0,86 |
0,84 |
0,00 |
|
Capital
and reserves / Fixed assets |
14,70 |
4,86 |
0,02 |
|
Solvency |
7,52 |
6,95 |
0,00 |
|
Nett
workingcapital |
79.821.931 |
54.291.167 |
-16.649.115 |
|
Capital
and reserves |
83.190.641 |
65.059.130 |
366.837 |
|
Change
capital and reserves |
27,87% |
17.635,16% |
|
|
change
short term liabilities |
18,21% |
-88,84% |
|
|
Nett
Turnover |
198.802.427 |
177.473.125 |
239.970.419 |
|
Operating
profit |
24.452.148 |
10.690.192 |
-51.906.175 |
|
Profitability
operating profit |
positive |
positive |
negative |
Annual accounts Although
the statutory deadline, the company's annual documents are not yet published
in the register of
the Chamber of Commerce.
Last annual accounts 2010
|
Type of
publication |
Corporate |
|
|
Turnover |
2010: |
198.802.427 |
|
|
2009: |
177.473.125 |
|
|
2008: |
239.970.419 |
|
|
2007: |
246.601.000 |
|
|
2006: |
188.757.000 |
|
Gross
profit |
2010: |
32.866.963 |
|
|
2009: |
17.994.390 |
|
|
2008: |
-42.679.415 |
|
|
2007: |
28.360.000 |
|
|
2006: |
15.359.000 |
|
Operating
profit |
2010: |
24.452.148 |
|
|
2009: |
10.690.192 |
|
|
2008: |
-51.906.175 |
|
|
2007: |
20.858.000 |
|
|
2006: |
7.864.000 |
|
Result
after taxes |
2010: |
18.131.511 |
|
|
2009: |
6.292.293 |
|
|
2008: |
-39.395.044 |
|
|
2007: |
15.972.000 |
|
|
2006: |
4.600.000 |
Capital and reserves 2010 83.190.641
Total debt 2010 13.354.871
Current
ratio 2010 8,21
BALANCE
|
BOOKYEAR |
2010 |
2009 |
2008 |
|
End of
bookyear |
31-12-2010 |
31-12-2009 |
31-12-2008 |
|
Tangible assets |
5.658.960 |
6.414.573 |
6.289.894 |
|
Financial assets |
|
6.979.662 |
13.515.599 |
|
Fixed assets |
5.658.960 |
13.394.235 |
19.805.493 |
|
|
|||
|
Stocks and work in progress |
47.180.377 |
36.725.041 |
65.239.836 |
|
Trade
debtors |
15.633.872 |
1.657.203 |
1.089.688 |
|
Other
amounts receivable |
25.968.455 |
25.253.534 |
890.197 |
|
Accounts receivable |
41.602.327 |
26.910.737 |
1.979.885 |
|
Liquid assets |
2.103.848 |
15.873 |
6.927 |
|
Current assets |
90.886.552 |
63.651.651 |
67.226.648 |
|
Total assets |
96.545.512 |
77.045.886 |
87.032.141 |
|
|
|||
|
Capital and reserves |
83.190.641 |
65.059.130 |
366.837 |
|
Provisions |
2.290.250 |
2.626.272 |
2.789.541 |
|
Trade debts
suppliers |
5.266.632 |
2.815.746 |
959.278 |
|
Other
short term debts |
5.797.989 |
6.544.738 |
82.916.485 |
|
Total short term debt |
11.064.621 |
9.360.484 |
83.875.763 |
|
Total debt |
13.354.871 |
11.986.756 |
86.665.304 |
|
Total Liabilities |
96.545.512 |
77.045.886 |
87.032.141 |
|
|
|||
|
PROFIT & LOSS ACCOUNT |
|
|
|
|
BOOKYEAR |
2010 |
2009 |
2008 |
|
Turnover |
198.802.427 |
177.473.125 |
239.970.419 |
|
Nett Turnover |
198.802.427 |
177.473.125 |
239.970.419 |
|
Gross profit |
32.866.963 |
17.994.390 |
-42.679.415 |
|
Wages
employees |
1.858.617 |
1.652.220 |
1.608.770 |
|
Sales
costs |
165.935.464 |
159.478.735 |
282.649.834 |
|
Depreciation
and amortization |
1.240.474 |
1.202.428 |
935.509 |
|
Other
operating charges |
5.315.724 |
4.449.550 |
6.682.481 |
|
Operating charges |
174.350.279 |
166.782.933 |
291.876.594 |
|
Operating profit |
24.452.148 |
10.690.192 |
-51.906.175 |
|
Financial
income |
518.978 |
|
|
|
Financial
charges |
61.084 |
2.240.973 |
2.087.976 |
|
Financial result |
457.894 |
-2.240.973 |
-2.087.976 |
|
Result before taxes |
24.910.042 |
8.449.219 |
-53.994.151 |
|
Income
taxes |
6.789.474 |
2.153.737 |
-13.886.304 |
|
Result after taxes |
18.120.568 |
6.295.482 |
-40.107.847 |
|
Extraordinary
income |
10.943 |
|
712.803 |
|
Extraordinary
charges |
|
3.189 |
|
|
Extraordinary result after taxes |
10.943 |
-3.189 |
712.803 |
|
Nett result |
18.131.511 |
6.292.293 |
-39.395.044 |
History
Modifications Per 5-4-2012
statutes modified
Company structure
·
European Metal Recycling Limit (990004740373)
o
EMR Activities of holding companies B.V. (24320247)
BOTLEK ROTTERDAM
Subsidiary (100%)
§
European Metal Recycling B.V. (20070123)
Botlek Rotterdam
Subsidiary (100%)
§
International Metal & Steel B.V. (24435887)
BOTLEK ROTTERDAM
Subsidiary (100%)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.