|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PF CONCEPT INTERNATIONAL B.V. |
|
|
|
|
Registered Office : |
De Lasso 14 2371GV Roelofarendsveen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
03.06.1954 |
|
|
|
|
Legal Form : |
Besloten Vennootschap |
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|
|
|
Line of Business : |
Wholesale of tobacco products |
|
|
|
|
No. of Employees : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit: |
€ 500.000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 (31.03.2011) |
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 |
PF Concept International
B.V. |
|
Tradename |
PF Concept International
B.V. |
|
|
Pollyflame International |
|
Address |
De Lasso 14 |
|
|
2371GV Roelofarendsveen |
|
|
Netherlands |
|
Mail address |
Postbus 175 |
|
|
2370AD Roelofarendsveen |
|
|
Netherlands |
|
Telephone number |
0713328911 |
|
Telefax number |
0713328821 |
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E-mail address |
|
|
Website |
|
|
VAT number / RSIN |
001760920 |
Credit limit A credit of € 500.000 may be granted
Handelsregisternummer 28034183
Registered in Chamber of commerce Den Haag
Act of foundation 03-06-1954
Date of constitution 01-07-1981
Last change in statutes 07-06-2005
Legal form Besloten Vennootschap
Place of constitution Roelofarendsveen (Gemeente Alkemade)
Issued capital 2.431.800
Paid up capital 2.431.800
NACE-code WHOLESALE TRADE AND COMMISSION TRADE (51)
Wholesale of tobacco products (5135)
SBI-code Wholesale trade (no motor vehicles and motorcycles) (46)
Wholesale of other household goods nec (464999)
Formal objective Het drijven van handel en het verlenen van diensten in het general, het deelnemen in en besturen van andere companies en voorts in het bijzonder het uitoefenen van fabrieks- en andere agentschappen, het drijven van groothandel, import-, export- en commissie- handel in promotionele artikelen en position- en cadeaugeschenken, alsmede alles wat hiertoe in de meest ruime zin bevorderlijk is of kan zijn
|
Employees |
Total: 140 |
|
|
|
Employees according to CoC |
Chamber of commerce: 140 |
|
|
|
Bookyear |
2012 |
2011 |
2010 |
|
Number |
140 |
140 |
140 |
|
Change |
0,00% |
0,00% |
0,00% |
|
Shareholder |
Polyconcept Holding B.V. |
|
|
De Lasso 14 |
|
|
2371GV ROELOFARENDSVEEN |
|
|
Netherlands |
|
|
KvK: 34137258 |
|
|
Active since: 30-12-2003 |
|
|
Percentage: 100.00% |
|
Ultimate parent company |
Polyconcept Investments
B.V. |
|
|
De Lasso 14 |
|
|
2371GV ROELOFARENDSVEEN |
|
|
KvK: 27119309 |
|
Holding company |
Polyconcept Holding B.V. |
|
|
De Lasso 14 |
|
|
2371GV ROELOFARENDSVEEN |
|
|
KvK: 34137258 |
|
Subsidiary |
Adm. Promotions B.V. |
|
|
De Lasso-Zuid 3 |
|
|
2371EV Roelofarendsveen |
|
|
KvK: 28069783 |
|
|
Polyconcept SG Global
Buying Services B.V. |
|
|
De Lasso 14 |
|
|
2371GV ROELOFARENDSVEEN |
|
|
KvK: 52663078 |
|
Liability declaration |
Hagemeyer N.V. (32028710) |
|
|
Polarisavenue 19 |
|
|
2132JH HOOFDDORP |
|
|
Polyconcept Investments
B.V. (27119309) |
De Lasso 14
2371GV ROELOFARENDSVEEN
Bank ABN Amro Bank NV The Royal Bank of Scotland N.V.
Real estate Lease
Management M.S. Bernstein Michael Scott
Authorization: Fully authorized
Position: Manager
Date appointed: 01-02-2012
Date of birth: 02-06-1967
A.W. Hartog Adriaan Willem
Authorization: Fully authorized
Position: Manager
Date appointed: 07-11-2011
Date of birth: 03-09-1970
F. Ubeda Fernando
Authorization: Fully authorized
Position: Manager
Date appointed: 01-12-2003
Date of birth: 14-03-1955
|
Payment experiences |
No complaints are known |
|
Auditor |
Ernst & Young |
|
Type of publication |
Consolidated |
|
Annual accounts van |
Polyconcept Investments B.V. |
|
|
De Lasso 14 |
|
|
2371GV ROELOFARENDSVEEN |
|
|
KvK: 27119309 |
|
Publication |
Steady |
BOOKYEAR 2011 2010 2009
Quick ratio 0,26 1,23 1,25
Current ratio 0,47 1,97 1,82
Nett workingcapital /
Balance total -0,29 0,12 0,11
Capital and reserves /
Balance total 0,07 0,08 0,07
Capital and reserves /
Fixed assets 0,10 0,11 0,09
|
Solvency |
0,08 |
0,09 |
0,07 |
|
Nett workingcapital |
-304.000.000 |
118.900.000 |
105.000.000 |
|
Capital and reserves |
75.400.000 |
80.200.000 |
62.700.000 |
|
Change capital and reserves |
-5,99% |
27,91% |
-28,10% |
|
change short term liabilities |
363,24% |
-3,84% |
-15,38% |
|
Nett Turnover |
645.600.000 |
607.400.000 |
542.700.000 |
|
Operating profit |
62.500.000 |
66.300.000 |
59.000.000 |
Annual accounts The published financial
information is the consolidated group information.
|
Last annual accounts |
2011 |
|
|
Type of publication |
Consolidated |
|
|
Turnover |
2011: |
645.600.000 |
|
|
2010: |
607.400.000 |
|
|
2009: |
542.700.000 |
|
|
2008: |
661.700.000 |
|
Operating profit |
2011: |
62.500.000 |
|
|
2010: |
66.300.000 |
|
|
2009: |
59.000.000 |
|
|
2008: |
87.500.000 |
|
|
2007: |
105.000.000 |
|
|
2006: |
95.000.000 |
|
Result after taxes |
2011: |
-11.600.000 |
|
|
2010: |
2.600.000 |
|
|
2009: |
-16.600.000 |
|
|
2008: |
14.500.000 |
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2007: |
25.000.000 |
|
|
2006: |
15.000.000 |
Capital and reserves 2011 75.400.000
Total debt 2011 893.900.000
Current ratio 2011 0,47
Quick ratio 2011 0,26
Nett workingcapital 2011 -304.000.000
Profitability Negative
Solvency Limited
Liquidity Negative
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
End of bookyear |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
Goodwill |
|
644.800.000 |
|
|
Other intangible assets |
|
76.000.000 |
|
|
Intangible assets |
750.200.000 |
720.800.000 |
699.700.000 |
|
Tangible assets |
19.600.000 |
3.400.000 |
15.000.000 |
|
Financial assets |
3.700.000 |
3.400.000 |
3.500.000 |
|
Fixed assets |
773.500.000 |
727.600.000 |
718.200.000 |
|
|
|||
|
Stocks and work in progress |
118.500.000 |
90.100.000 |
73.100.000 |
|
Trade debtors |
91.400.000 |
88.500.000 |
89.900.000 |
|
Other amounts receivable |
27.000.000 |
33.800.000 |
17.400.000 |
|
Accounts receivable |
118.400.000 |
122.300.000 |
107.300.000 |
|
Liquid assets |
27.500.000 |
29.200.000 |
52.200.000 |
|
Current assets |
264.400.000 |
241.600.000 |
232.600.000 |
|
Total assets |
1.037.900.000 |
969.200.000 |
950.800.000 |
|
|
|||
|
Minority interest |
21.100.000 |
3.400.000 |
2.900.000 |
|
Capital and reserves |
75.400.000 |
80.200.000 |
62.700.000 |
|
Provisions |
47.500.000 |
5.600.000 |
41.000.000 |
|
other long term debts |
|
757.300.000 |
|
|
Long term liabilities |
325.500.000 |
757.300.000 |
716.600.000 |
|
Short term interest yielding debt |
826.800.000 |
|
|
|
Other short term debts |
105.900.000 |
122.700.000 |
92.200.000 |
|
Total short term debt |
568.400.000 |
122.700.000 |
127.600.000 |
|
Total debt |
893.900.000 |
880.000.000 |
844.200.000 |
|
Total Liabilities |
1.037.900.000 |
969.200.000 |
950.800.000 |
|
|
|||
|
PROFIT & LOSS ACCOUNT |
|
|
|
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Turnover |
645.600.000 |
|
542.700.000 |
|
Nett Turnover |
645.600.000 |
607.400.000 |
542.700.000 |
|
Wages employees |
|
|
90.400.000 |
|
Depreciation and amortization |
6.700.000 |
169.500.000 |
6.500.000 |
|
Raw materials |
372.100.000 |
|
316.000.000 |
|
Other operating charges |
204.300.000 |
371.600.000 |
70.800.000 |
|
Operating charges |
583.100.000 |
541.100.000 |
483.700.000 |
|
Operating profit |
62.500.000 |
66.300.000 |
59.000.000 |
|
Financial charges |
62.700.000 |
54.300.000 |
57.300.000 |
|
Financial result |
|
-54.300.000 |
|
|
Result before taxes |
|
12.000.000 |
|
|
Income taxes |
11.400.000 |
8.500.000 |
4.900.000 |
|
Result after taxes |
|
3.500.000 |
|
|
Nett result |
-11.600.000 |
2.600.000 |
-16.600.000 |
|
Income attributable to minority interest |
|
-900.000 |
|
|
Liability statements |
Per 24-07-2008 filed a withdrawal of
declaration of liability by Polyconcept Holding B.V.. Per 02-07-2008 filed a
declaration of liability by Polyconcept Investments B.V.. |
|
Consent statements |
Over bookyear 2011 a
consent agreement is filed Over bookyear 2010 a consent agreement is filed
Over bookyear 2009 a consent agreement is filed |
|
Management |
Per 30-06-2012 manager Philippe Marcel
Varnier out of office. Per 01-02-2012 manager Michael Scott Bernstein
appointed. Per 07-11-2011 manager Adriaan Willem Hartog appointed. Per 07-11 -2011 manager Cornelis Eduard
Henricus Wilhelmina Martens out of office. Per 08-03-2010 manager Cornelis
Eduard Henricus Wilhelmina Martens appointed. Per 07-04-2010 manager Rutger
Christiaan de Planque out of office. Per 20-07-2009 manager Robertus Johannes
Maria Mikx out of office. |
• Polyconcept Investments
B.V. (27119309) ROELOFARENDSVEEN
o Polyconcept Finance B.V. (34146395)
ROELOFARENDSVEEN
Subsidiary (100%)
■ Polyconcept Holding B.V. (34137258)
ROELOFARENDSVEEN
Subsidiary
■ PF Concept International B.V.
(28034183) Roelofarendsveen Subsidiary
■ Adm. Promotions B.V. (28069783)
Roelofarendsveen
Subsidiary
■ Polyconcept SG Global
Buying Services B.V. (52663078)
ROELOFARENDSVEEN
Subsidiary
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.83 |
|
|
1 |
Rs.89.22 |
|
Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.