MIRA INFORM REPORT
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Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
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Name : |
GLENCORE GRAIN B.V. |
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Registered Office : |
Blaak 31, Rotterdam, 3011 GA |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.04.1980 |
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Com. Reg. No.: |
24138640 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of grain, seeds and animal feeds |
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No. of Employees : |
Not Available |
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 but correct |
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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 |
Company
name and address
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Glencore Grain B.V. |
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Employees: |
NA |
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Company Type: |
Private Subsidiary |
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Corporate Family: |
3 Companies |
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Ultimate Parent: |
Finges Investment B.V. |
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Incorporation Date: |
09-Apr-1980 |
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Fiscal Year End: |
31-Dec-2011 |
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Reporting Currency: |
US Dollar |
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Annual Sales: |
11,478.3 |
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Total Assets: |
2,857.4 |
Business Description
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Glencore Grain B.V. is primarily engaged
in wholesale of grain, seeds and animal feeds. This class also includes:
wholesale of seed potatoes; wholesale of feed for farm animals; and wholesale
of material, residues and by-products used for animal feed. |
Industry
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Industry |
Crops |
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ANZSIC 2006: |
3312 - Cereal
Grain Wholesaling |
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NACE 2002: |
5121 - Wholesale
of grain, seeds and animal feeds |
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NAICS 2002: |
424510 - Grain
and Field Bean Merchant Wholesalers |
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UK SIC 2003: |
5121 - Wholesale
of grain, seeds and animal feeds |
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UK SIC 2007: |
4621 - Wholesale
of grain, unmanufactured tobacco, seeds and animal feeds |
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US SIC 1987: |
5153 - Grain and
Field Beans |
Key Executives
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News
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Registered No.(NLD)
24138640
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
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Corporate Structure News: |
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Glencore Grain B.V. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Finges Investment B.V. |
Parent |
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Subsidiary |
Trieste |
Italy |
Trucking |
29.9 |
43 |
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Subsidiary |
Rotterdam, South Holland |
Netherlands |
Crops |
11,478.3 |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
USD |
USD |
USD |
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Exchange Rate (Period
Average) |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
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Net sales |
11,478.3 |
7,184.6 |
5,857.2 |
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Cost of goods sold |
11,333.2 |
7,063.1 |
5,676.4 |
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Cost of sales |
11,333.2 |
7,063.1 |
5,676.4 |
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Gross profit |
145.1 |
121.6 |
180.8 |
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General expenses |
- |
- |
38.7 |
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Total payroll costs |
28.8 |
22.6 |
- |
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Other operating costs |
32.7 |
557.8 |
- |
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Total operating costs |
- |
- |
38.7 |
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Net operating income |
83.6 |
- |
142.1 |
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Total financial income |
22.5 |
15.2 |
18.2 |
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Total expenses |
91.4 |
56.2 |
48.2 |
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Profit before tax |
14.7 |
- |
112.0 |
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Profit on ordinary activities after tax |
12.7 |
-514.8 |
127.2 |
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Other taxes |
-0.4 |
- |
- |
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Total taxation |
2.0 |
15.0 |
-15.2 |
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Profit after tax |
12.7 |
-514.8 |
127.2 |
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Net profit |
13.1 |
- |
122.7 |
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Net loss |
- |
-530.0 |
- |
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Annual Balance Sheet |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
USD |
USD |
USD |
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Exchange Rate |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
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Other reserves |
185.4 |
170.5 |
330.3 |
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Total stockholders equity |
206.8 |
192.6 |
354.0 |
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Trade creditors |
147.3 |
128.1 |
104.8 |
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Total current liabilities |
2,650.6 |
3,233.4 |
967.3 |
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Total liabilities (including net worth) |
2,857.4 |
3,426.1 |
1,321.4 |
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Total tangible fixed assets |
4.7 |
3.2 |
- |
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Total asset investment |
2.1 |
0.9 |
1.3 |
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Total non-current assets |
6.8 |
4.1 |
1.3 |
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Net stocks and work in progress |
394.4 |
362.0 |
187.9 |
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Trade debtors |
737.2 |
773.2 |
324.6 |
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Other receivables |
1,683.3 |
2,253.0 |
807.3 |
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Total receivables |
2,420.6 |
3,026.1 |
1,131.9 |
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Cash and liquid assets |
35.7 |
33.9 |
0.2 |
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Total current assets |
2,850.7 |
3,422.0 |
1,320.1 |
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Total assets |
2,857.4 |
3,426.1 |
1,321.4 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
USD |
USD |
USD |
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Exchange Rate |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.10 |
1.10 |
1.40 |
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Acid test ratio |
0.90 |
1.00 |
1.20 |
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Current liabilities to net worth |
10.00% |
10.00% |
2.73% |
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Fixed assets to net worth |
0.03% |
0.02% |
0.00% |
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Collection period |
23.40 |
39.30 |
20.20 |
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Stock turnover rate |
29.10 |
19.80 |
31.20 |
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Sales to net working capital |
57.40 |
38.10 |
16.60 |
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Asset turnover |
4.02% |
2.10% |
4.43% |
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Profit margin |
0.00% |
-0.07% |
0.02% |
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Return on assets |
0.01% |
-0.15% |
0.09% |
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Shareholders' return |
0.07% |
-2.59% |
0.32% |
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Sales per employee |
62,722.96 |
51,318.88 |
41,248.11 |
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Profit per employee |
80.16 |
-3,569.63 |
788.79 |
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Return on capital |
-0.37% |
-2.89% |
0.18% |
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Average wage per employee |
157.51 |
161.41 |
- |
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Net worth |
206.8 |
192.6 |
354.0 |
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Number of employees |
183 |
140 |
142 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.85 |
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1 |
Rs.85.25 |
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Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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.