MIRA
INFORM REPORT
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Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
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Name : |
HUNKEMOLLER INTERNATIONAL
B.V. |
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Registered Office : |
Liebergerweg 28 1221JS
Hilversum |
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Country : |
Netherlands |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
14.12.2010 |
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Com. Reg. No.: |
51462931 |
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Legal Form : |
Private Company |
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Line of Business : |
Financial holding |
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No. of Employees : |
1103 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
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.
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Source : CIA |
CONTACTINFORMATION
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Company name |
HUNKEMOLLER INTERNATIONAL
B.V. |
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Tradename |
Hunkemoller International
B.V. |
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Address |
Liebergerweg 28 |
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1221JS Hilversum |
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Netherlands |
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Mail address |
Liebergerweg 28 |
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1221JS Hilversum |
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Netherlands |
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Telephone number |
0356465588 |
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Telefax number |
0356465555 |
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E-mail address |
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Website |
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VAT number / RSIN |
850030195 |
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Branch(es) |
132 branches |
COMPANY INFORMATION
Handelsregisternummer 51462931
Registered in Chamber
of commerce Gooi-, Eem- en Flevoland
First registration 14-12-2010
Act of foundation 14-12-2010
Date of constitution 14-12-2010
Last change in statutes 26-06-2011
Legal form Private Company
Place of constitution Amsterdam
Issued capital 18.000
Paid up capital 18.000
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NACE-code |
Financial holding (65234) |
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SBI-code |
Retail sale of underwear
(47716) |
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Financial holding (642) |
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Financial holding (6420) |
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Formal objective |
Activities of holding
companies- en financieringsactiviteiten; De handel en industrie en |
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meer in het bijzonder de
detailhandel alsmede daarmee in verband staande |
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dienstverlening en
fabricage van (onder-) mode en aanverwante artikelen |
Employees Total: 1103
Bookyear 2012 2011
Number 1103
1079
Change 2,22%
COMPANY STRUCTURE
Shareholder Eva
Capital B.V.
De Boelelaan 7
1083HJ AMSTERDAM
Netherlands
KvK: 51448610
Active since: 14-12-2010
Percentage: 100.00%
Ultimate parent company Lisa
Capital Coöperatief U.A.
De Boelelaan 7
1083HJ AMSTERDAM
KvK: 51380471
Holding company Eva
Capital B.V.
De Boelelaan 7
1083HJ AMSTERDAM
KvK: 51448610
Bank ING Bank NV
Account number: 65.02.61.887
Real estate Lease
The real estate is checked at the land
registration office
Object code: HILVERSUM R 4741
Owner: Luximo B.V.
MANAGEMENT
Management B.R.
Hawksley
Benjamin Richard
Authorization: Jointly authorized
Position: Manager
Date appointed: 26-06-2011
Date of birth: 26-11-1968
Other directorships:
- Manager: Hunkemöller B.V. - Hilversum
(KvK: 32031078)
R.C. Hemmer
Ronald Cornelis
Authorization: Jointly authorized
Position: Manager
Date appointed: 26-06-2011
Date of birth: 01-05-1962
Other directorships:
- Manager: Hunkemöller B.V. - Hilversum
(KvK: 32031078)
P.F. Mountford
Philip Francis
Authorization: Jointly authorized
Position: Manager
Date appointed: 26-06-2011
Date of birth: 26-02-1965
Other directorships:
- Manager: Hunkemöller B.V. - Hilversum
(KvK: 32031078)
V.J. Patel
Viral Jashbhai
Authorization: Jointly authorized
Position: Manager
Date appointed: 01-07-2012
Date of birth: 02-08-1967
S.P. Pickering
Susan Patricia
Authorization: Jointly authorized
Position: Manager
Date appointed: 26-06-2011
Date of birth: 18-06-1965
Other directorships:
- Manager: Hunkemöller B.V. - Hilversum (KvK: 32031078)
PAYMENT INFORMATION
Payment experiences Payments
are regular
Payments Based
on multiple payment experiences up to € 50.000
Quarter: 2 2012: 50 Average days
Quarter: 3 2012: 60 Average days
Quarter: 4 2012: 55 Average days
Quarter: 1 2013: 54 Average days
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invoices |
current quarter |
2012 Q4 |
2012 Q3 |
2012 Q2 |
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Total |
82 |
100% |
237.186 |
239.588 |
237.904 |
248.863 |
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Within terms |
47 |
57,2% |
135.770 |
133.345 |
164.863 |
147.892 |
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Delayed 0 - 30 |
27 |
38,7% |
91.715 |
96.542 |
41.030 |
82.060 |
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Delayed 31 - 60 |
2 |
0,0% |
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|
6.788 |
16.970 |
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Delayed 61 - 90 |
6 |
4,1% |
9.701 |
9.701 |
25.223 |
1.941 |
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Delayed 91 - 120 |
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Delayed 120+ days |
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FINANCIAL INFORMATION
Auditor Deloitte
& Touche
Publication financial statement Annual
accounts 2012 are published on 22-06-2012 (Broken accounting year)
Annual accounts
2011 are published on 05-09-2011 (Broken accounting year)
Type of publication Consolidated
Annual accounts van Hunkemöller
International B.V.
Liebergerweg 28
1221JS Hilversum
KvK: 51462931
Publication Steady
CORE FIGURES
|
BOOKYEAR |
2012 |
2011 |
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Quick ratio |
0,16 |
0,32 |
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Current ratio |
0,38 |
0,32 |
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Nett workingcapital /
Balance total |
-0,12 |
-0,12 |
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Capital and reserves /
Balance total |
0,18 |
0,21 |
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Capital and reserves /
Fixed assets |
0,19 |
0,22 |
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Solvency |
0,22 |
0,26 |
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Nett workingcapital |
-38.764.000 |
-36.750.000 |
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Capital and reserves |
59.216.000 |
66.104.000 |
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Change capital and
reserves |
-10,42% |
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change short term
liabilities |
15,70% |
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Nett Turnover |
235.084.000 |
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Operating profit |
17.901.000 |
-8.758.000 |
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Profitability operating
profit |
positive |
negative |
Annual accounts The company is not obligated to publish its financial account.
Last annual accounts 2012
Type of publication Consolidated
Turnover 2012: 235.084.000
Gross profit 2012: 151.021.000
Operating profit 2012: 17.884.000
Result after taxes 2012: 1.619.000
Tendency Not to be judged because of the absence of sufficient financial information
Capital and reserves 2012 59.216.000
Total debt 2012 272.599.000
Current ratio 2012 0,38
Quick ratio 2012 0,16
Nett workingcapital 2012
-38.764.000
Profitability Negative
Solvency Moderate
Liquidity Negative
Balance
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BOOKYEAR |
2012 |
2011 |
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End of bookyear |
31-01-2012 |
31 -01 -2011 |
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Intangible assets |
268.738.000 |
212.899.000 |
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Tangible assets |
10.367.000 |
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Financial assets |
22.127.000 |
85.542.000 |
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Other fixed assets |
6.646.000 |
3.417.000 |
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Fixed assets |
307.878.000 |
301.858.000 |
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Stocks and work in progress |
14.202.000 |
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Accounts receivable |
8.310.000 |
15.317.000 |
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Liquid assets |
1.425.000 |
2.126.000 |
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Current assets |
23.937.000 |
17.443.000 |
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Total assets |
331.815.000 |
319.301.000 |
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Capital and reserves |
59.216.000 |
66.104.000 |
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Pension obligations |
1.024.000 |
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Financial debts |
192.687.000 |
195.589.000 |
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other long term debts |
16.187.000 |
3.415.000 |
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Long term liabilities |
209.898.000 |
199.004.000 |
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Trade debts suppliers |
42.744.000 |
7.436.000 |
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Financial debts |
|
46.757.000 |
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Other short term debts |
19.957.000 |
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Total short term debt |
62.701.000 |
54.193.000 |
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Total debt |
272.599.000 |
253.197.000 |
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Total Liabilities |
331.815.000 |
319.301.000 |
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PROFIT & LOSS ACCOUNT |
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BOOKYEAR |
2012 |
2011 |
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Nett Turnover |
235.084.000 |
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Cost of sales |
84.063.000 |
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Gross profit |
151.021.000 |
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Other operating charges |
133.120.000 |
8.758.000 |
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Operating charges |
133.120.000 |
8.758.000 |
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Operating profit |
17.901.000 |
-8.758.000 |
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Financial result |
-23.507.000 |
8.000 |
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Result before taxes |
-5.606.000 |
-8.750.000 |
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Income taxes |
1.107.000 |
2.210.000 |
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Result after taxes |
-4.499.000 |
-6.540.000 |
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Extraordinary income |
12.000 |
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Extraordinary charges |
2.401.000 |
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Extraordinary result |
-2.389.000 |
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Taxes on extraordinary
result |
-2.389.000 |
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Extraordinary result after taxes |
-2.389.000 |
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Nett result |
-6.888.000 |
-6.540.000 |
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History |
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Merger and demerger |
Op 29-04-2011 merger proposal
filed. New registration: Venus Capital B.V., 51462931 Disappearing
registration: Hunkemoller International B.V., 32066447 Hunkemoller B.V., 32031078 Hunkemoller
Services B.V., 50622064. |
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Management |
Per 01-07-2012 manager Viral
Jashbhai Patel appointed. Per 01-05-2012 manager
Bartholomeus Theodorus Cornelis van den Nieuwenhof out of office. Per 21 -01 -2011 manager
Collin Peter de Wit appointed. Per 21 -01 -2011 manager Gerben van den Berg
out of office. Per 14-12-2010 manager Gerben van den Berg appointed. Per
14-12-2010 manager Fabrice Andre Paul Fouletier appointed. |
Company structure
·
Lisa Capital Coöperatief U.A. (51380471)
AMSTERDAM
o
Eva Capital B.V. (51448610)
AMSTERDAM
Subsidiary (100%)
·
Hunkemöller International B.V. (51462931)
Hilversum
Subsidiary
(100%)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
|
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared by
: |
SDA |
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 |
|
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 |
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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 |
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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.