MIRA
INFORM REPORT
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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
PEPE JEANS EUROPE B.V. |
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Registered Office : |
Keizersgracht 321, Amsterdam, 1016 EE |
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Country : |
Netherlands |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
27.09.1995 |
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Com. Reg. No.: |
33272219 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
wholesaler of
adults' fur and leather clothing; |
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No. of Employees : |
72 |
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 : |
Regular |
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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 |
A2 |
A2 |
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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 & address
Pepe Jeans Europe B.V.
Keizersgracht 321
Amsterdam, 1016 EE
Netherlands
Tel: +31 020-5893888
Fax: +31 020-5893880
Synthesis
Employees: 72
Company Type: Private Subsidiary
Corporate Family: 16
Companies
Ultimate Parent: Pepe
Jeans Sl
Incorporation Date:
27-Sep-1995
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Euro
Annual Sales: 127.3
Total Assets: 294.1
Business Description
Pepe Jeans Europe B.V. is primarily engaged in wholesale of adults' fur and leather clothing; wholesale of children's and infants' clothing; wholesale of footwear; and wholesale of clothing not elsewhere classified.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 371 - Textile,
Clothing and Footwear Wholesaling
NACE 2002: 5142 - Wholesale
of clothing and footwear
NAICS 2002: 4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers
UK SIC 2003: 5142 - Wholesale
of clothing and footwear
UK SIC 2007: 4642 - Wholesale
of clothing and footwear
US SIC 1987: 5136 - Men's and
Boy's Clothing and Furnishings
Key Executives
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Name |
Title |
|
Nigel Midgley |
Managing director |
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Nishith Soneji |
Managing director |
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Fitzroy Thomas |
Member of the board |
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Anouk Van Wouwe |
Member of the board |
Registered No.(NLD): 33272219
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7534632
Corporate Overview
Location
Keizersgracht 321
Amsterdam, 1016 EE
Netherlands
Tel: +31 020-5893888
Fax: +31 020-5893880
Sales EUR(mil): 92.5
Assets EUR(mil): 221.6
Employees: 72
Fiscal Year End: 31-Mar-2012
Industry: Apparel
and Accessories
Incorporation Date: 27-Sep-1995
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(NLD): 33272219
Managing director: Nigel
Midgley
Contents
Industry Codes
Business Description
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
371 - Textile, Clothing and Footwear Wholesaling
NACE 2002 Codes:
5142 - Wholesale of clothing and footwear
NAICS 2002 Codes:
4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers
US SIC 1987:
5136 - Men's and Boy's Clothing and Furnishings
UK SIC 2003:
5142 - Wholesale of clothing and footwear
UK SIC 2007:
4642 - Wholesale of clothing and footwear
Business
Description
Pepe Jeans Europe B.V. is primarily engaged in wholesale of adults' fur
and leather clothing; wholesale of children's and infants' clothing; wholesale
of footwear; and wholesale of clothing not elsewhere classified.
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Corporate Family |
Corporate
Structure News: |
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Pepe
Jeans Sl |
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Pepe Jeans Europe B.V. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Sant Feliu De Llobregat, Barcelona |
Spain |
Apparel and Accessories |
244.9 |
780 |
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Subsidiary |
Lisboa, Lisboa |
Portugal |
Apparel and Accessories |
21.8 |
214 |
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Subsidiary |
Paris |
France |
Apparel and Accessories |
14.7 |
74 |
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Subsidiary |
Lisboa, Lisboa |
Portugal |
Retail (Specialty) |
2.1 |
41 |
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Subsidiary |
Milano, Milano |
Italy |
Retail (Apparel) |
6.1 |
31 |
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Subsidiary |
Ciudad De Mexico, Distrito Federal |
Mexico |
Apparel and Accessories |
15.6 |
22 |
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Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Apparel and Accessories |
127.3 |
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Subsidiary |
London |
United Kingdom |
Retail (Apparel) |
153.1 |
219 |
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UK Branch/Trading address |
London |
United Kingdom |
Retail (Apparel) |
153.1 |
25 |
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UK Branch/Trading address |
London |
United Kingdom |
Retail (Apparel) |
153.1 |
12 |
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UK Branch/Trading address |
Bicester |
United Kingdom |
Retail (Apparel) |
153.1 |
7 |
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UK Branch/Trading address |
London |
United Kingdom |
Retail (Apparel) |
153.1 |
6 |
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UK Branch/Trading address |
London |
United Kingdom |
Retail (Apparel) |
153.1 |
6 |
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UK Branch/Trading address |
London |
United Kingdom |
Retail (Apparel) |
153.1 |
6 |
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Subsidiary |
Luynes |
France |
Apparel and Accessories |
5.2 |
14 |
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Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
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Executive report
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Board
of Directors |
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Executives |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Annual profit & loss
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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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) |
0.726943 |
0.757168 |
0.70861 |
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Consolidated |
No |
No |
No |
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Net sales |
127.3 |
112.2 |
121.5 |
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Cost of goods sold |
78.1 |
68.4 |
74.3 |
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Cost of sales |
78.1 |
68.4 |
74.3 |
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Gross profit |
49.2 |
43.8 |
47.2 |
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Total payroll costs |
6.2 |
6.2 |
5.2 |
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Change in value of fixed assets arising
from revaluation |
0.7 |
0.3 |
0.3 |
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Other operating costs |
23.6 |
19.6 |
20.6 |
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Net operating
income |
18.8 |
17.7 |
21.1 |
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Total financial
income |
3.4 |
1.3 |
2.2 |
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Total expenses |
0.2 |
1.0 |
0.1 |
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Profit before tax |
22.0 |
18.0 |
23.2 |
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Profit attributable to minority interest
shareholdings |
14.7 |
15.3 |
10.3 |
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Profit on ordinary activities after tax |
33.5 |
30.6 |
30.7 |
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Extraordinary expenses |
0.9 |
- |
- |
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Extraordinary result |
-0.9 |
- |
- |
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Profit after extraordinary items and
before tax |
-0.9 |
- |
- |
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Total taxation |
3.2 |
2.8 |
2.7 |
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Profit after tax |
33.5 |
30.6 |
30.7 |
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Net profit |
32.6 |
30.6 |
30.7 |
Annual
Balance Sheet
Financials in: USD (mil)
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|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
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Consolidated |
No |
No |
No |
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Share premium account |
139.4 |
149.0 |
142.1 |
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Other reserves |
86.4 |
78.8 |
66.7 |
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Profit brought forward from previous
year(s) |
31.5 |
32.9 |
29.5 |
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Total
stockholders equity |
257.9 |
261.3 |
238.9 |
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Provisions and allowances |
- |
0.1 |
- |
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Trade creditors |
1.8 |
5.9 |
4.9 |
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Total current
liabilities |
36.2 |
24.6 |
18.2 |
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Total
liabilities (including net worth) |
294.1 |
286.1 |
257.1 |
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Intangibles |
1.5 |
1.1 |
- |
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Total tangible
fixed assets |
1.0 |
0.8 |
0.9 |
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Total asset investment |
246.7 |
233.7 |
214.8 |
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Total
non-current assets |
249.2 |
235.5 |
215.7 |
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Net stocks and work in progress |
4.4 |
4.0 |
7.0 |
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Trade debtors |
30.3 |
35.9 |
24.4 |
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Other receivables |
9.9 |
10.6 |
9.9 |
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Total
receivables |
40.2 |
46.5 |
34.3 |
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Cash and liquid assets |
0.4 |
0.0 |
0.1 |
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Total current
assets |
44.9 |
50.6 |
41.4 |
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Total assets |
294.1 |
286.1 |
257.1 |
Annual
Ratios
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.20 |
2.00 |
2.30 |
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Acid test ratio |
1.10 |
1.90 |
1.90 |
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Current liabilities to net worth |
0.14% |
0.10% |
0.08% |
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Fixed assets to net worth |
0.97% |
0.91% |
0.90% |
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Collection period |
90.00 |
108.70 |
76.50 |
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Stock turnover rate |
28.00 |
29.90 |
16.60 |
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Sales to net working capital |
14.10 |
4.60 |
5.00 |
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Asset turnover |
0.42% |
0.42% |
0.45% |
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Profit margin |
0.17% |
0.16% |
0.19% |
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Return on assets |
0.07% |
0.07% |
0.09% |
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Shareholders' return |
0.08% |
0.07% |
0.09% |
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Sales per employee |
1,285.19 |
- |
1,304.48 |
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Profit per employee |
222.04 |
- |
248.68 |
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Return on capital |
0.08% |
0.07% |
0.09% |
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Average wage per employee |
62.22 |
- |
55.73 |
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Net worth |
256.4 |
260.3 |
238.9 |
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Number of employees |
72 |
- |
66 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.