MIRA INFORM REPORT
|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
LINCOLN SMITWELD B.V. |
|
|
|
|
Registered Office : |
New Dukenburgseweg 20, 6534AD Nijmegen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
10.06.1971 |
|
|
|
|
Com. Reg. No.: |
10019285 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Manufacturer of fabricated metal products |
|
|
|
|
No. of Employees : |
166 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
A2 |
A2 |
|
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 Lincoln Smitweld B.V.
Tradename Lincoln Smitweld
Address New
Dukenburgseweg 20
6534AD Nijmegen
Netherlands
Mail address Postbus 253
6500AG Nijmegen
Netherlands
Telephone number 0243522911
Telefax number 0243522200
E-mail address customerservice@lincolnelectric.eu
Website www.lincolnelectric.com
VAT number / RSIN 001092832
Special remarks Men
heeft tevens een subsidiary in Belgie onder de name Lincoln Smitweld
Belgium
NV in Brussel.
COMPANY
INFORMATION
Handelsregisternummer 10019285
Registered in Chamber
of commerce Centraal Gelderland
Act of foundation 10-06-1971
Date of constitution
01-01-1971
Continuation date 10-01-1973
Last change in statutes 19-07-2005
Legal form Besloten Vennootschap (Limited
Company)
Place of constitution Nijmegen
Capital EUR
Issued capital EUR
8.168.500
Paid up capital EUR
8.168.500
NACE-code MANUFACTURE
OF FABRICATED METAL PRODUCTS (28)
Manufacture of
tools (2862)
SBI-code Manufacture
of fabricated metal products, except machinery and equipment (25)
Manufacture of wire products (259301)
Wholesale of machine-tools (4662)
Formal objective De
produktie van en handel in toestellen, verbruiksgoederen en
hulpgereedschappen voor het lassen, snijden, harden, vormen, solderen en casting of metals en metaallegeringen
|
Employees |
Total: 166 |
|
|
|
Employees according to CoC |
Chamber of commerce: 166 |
|
|
|
Bookyear |
2013 |
2012 |
2011 |
|
Number |
166 |
166 |
191 |
|
Change |
0,00% |
-13,09% |
-8,17% |
COMPANY STRUCTURE
|
Shareholder |
Lincoln Electric Europe
B.V. |
|
|
New Dukenburgseweg
20 |
|
|
6534AD NIJMEGEN |
|
|
Netherlands |
|
|
KvK:10028433 |
|
|
Active since: 13-11-1989 |
|
|
|
|
|
Percentage: 100.00% |
|
Ultimate parent company |
Lincoln Electric
International |
|
|
990005435406 |
|
|
|
|
Holding company |
Lincoln Electric Europe
B.V. |
|
|
New Dukenburgseweg
20 |
|
|
6534AD NIJMEGEN |
|
|
KvK:10028433 |
Bank Bank
of America
Account number:
26.65.64.836
ABN Amro Bank NV
Account number: 45.30.70.833
Real estate Privately-property
owned
MANAGEMENT
Management Lincoln
Electric Europe B.V.
New Dukenburgseweg
20
6534AD NIJMEGEN
Netherlands
KvK: 10028433
Authorization: Fully authorized
Position: Manager
Date appointed: 01-03-2005
D.P. Ramos Leitão
Daniel Paulo
6642AP
Authorization: Limited authorization
Position: Financieel
manager
Date appointed: 15-06-1998
Date of birth: 16-04-1966
T.A. Flohn
Thomas Anthony
Position: Commissaris
Date appointed: 01-07-2010
Date of birth: 10-09-1960
L.A. Oliveira e Cunha de Vasconcelos
Dias
Luis Antonio
Position: Commissaris
Date appointed: 01-09-2011
Date of birth: 31-10-1973
P.J.T.M. de Bie
Petrus Johannes Titus
Maria
Authorization: Limited authorization (max: €
25.000)
Position: Proxy
Date appointed: 01-02-2011
Date of birth: 26-11-1965
M.A. Chalmers
Michael Alexander
Authorization: Limited authorization
Position: Proxy
Date appointed: 01-01-2011
Date of birth: 04-05-1956
R.D. Gudden
Remco Dominggus
Authorization: Limited authorization
Position: Proxy
Date appointed: 05-07-2008
Date of birth: 24-05-1974
J.A.M. Hermans
Johannes Albertus
Maria
6538LP
Authorization: Limited authorization
Position: Proxy
Date appointed: 01-06-2000
Date of birth: 08-11-1950
J.J.J. Hermens
Jeroen Johannes Jacobus
6604DR
Authorization: Limited authorization
Position: Proxy
Date appointed: 13-03-2002
Date of birth: 18-10-1972
P.J.W.M. Nagels
Paulus Johannes Wilhelmus Mari
6595BT
Authorization: Limited authorization
Position: Proxy
Date appointed: 10-12-2002
Date of birth: 22-11-1961
M.B.A. Nijhof
Martijn Bernardus Alfonsius
Authorization: Limited authorization
Position: Proxy
Date appointed: 01-06-2011
Date of birth: 09-08-1972
M.E.L. van Stratum
Maria Elizabeth Lamberta
Authorization: Limited authorization
Position: Proxy
Date appointed: 01-06-2011
Date of birth: 02-04-1982
D. Thomassen
Denny
Authorization: Limited authorization (max: €
50.000)
Position: Proxy
Date appointed: 01-06-2011
Date of birth: 13-10-1973
J.J.H. Werson
Johannes Joseph Hubertus
Authorization: Limited authorization
Position: Proxy
Date appointed: 01-06-2007
Date of birth: 02-06-1951
PAYMENT INFORMATION
Payment experiences Payments
are regular, no complaints are known
Payments Based on multiple payment experiences up to € 50.000
· Quarter: 2 2012: 55 Average days
· Quarter: 3 2012: 53 Average days
· Quarter: 4 2012: 65 Average days
· Quarter: 1 2013: 85 Average days
·
|
|
invoices |
current quarter |
2012 Q4 |
2012 Q3 |
2012 Q2 |
|
|
Total |
201 |
100% |
202.780 |
233.840 |
216.412 |
217.277 |
|
Within terms |
85 |
81,0% |
164.310 |
33.996 |
84.988 |
96.320 |
|
Delayed 0 - 30 |
97 |
16,2% |
32.759 |
197.135 |
131.424 |
104.652 |
|
Delayed 31 - 60 |
16 |
2,8% |
5.629 |
2.709 |
|
13.545 |
|
Delayed 61 - 90 |
|
|
|
|
|
|
|
Delayed 91 - 120 |
2 |
0,0% |
82 |
|
|
1.104 |
|
Delayed 120+ days |
1 |
0,0% |
|
|
|
1.656 |
FINANCIAL INFORMATION
Auditor Ernst
& Young
Publication financial statement Annual
accounts 2011 are published on 12-02-2013
Annual accounts 2010 are published on
02-02-2012
Annual accounts 2009 are published on
23-12-2010
Annual accounts 2008 are published on
14-10-2009
Annual accounts 2007 are published on
23-01-2009
Type of publication Consolidated
Annual accounts van Lincoln
Smitweld B.V.
New Dukenburgseweg
20
6534AD Nijmegen
KvK: 10019285
Publication Publication
according to oblig
|
CORE FIGURES |
|
|
|
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Quick ratio |
1,53 |
1,11 |
1,23 |
|
Current ratio |
2,41 |
1,87 |
2,17 |
|
Nett workingcapital / Balance total |
0,47 |
0,37 |
0,40 |
|
Capital and
reserves / Balance total |
0,66 |
0,57 |
0,66 |
|
Capital and
reserves / Fixed assets |
3,50 |
2,73 |
2,50 |
|
Solvency |
1,94 |
1,35 |
1,93 |
|
Nett workingcapital |
20.019.000 |
15.105.000 |
13.587.000 |
|
Capital and
reserves |
27.658.000 |
23.385.000 |
22.430.000 |
|
Change capital and
reserves |
18,27% |
4,26% |
-5,99% |
|
change short term
liabilities |
-17,52% |
48,46% |
-45,26% |
|
Operating profit |
5.993.000 |
1.545.000 |
-1.442.000 |
|
Nett Turnover |
89.556.000 |
74.925.000 |
72.235.000 |
|
Profitability
operating profit |
positive |
positive |
negative |
Last annual accounts 2011
Type of publication Corporate
Turnover 2011:
89.556.000
2010: 74.925.000
2009: 72.235.000
2008: 97.581.000
2007: 95.887.000
2006: 73.405.000
2005: 61.752.000
Gross profit 2007:
20.485.000
2006: 13.638.000
2005: 9.936.000
Operating profit 2011:
5.993.000
2010: 1.545.000
2009: -1.442.000
2008: 6.713.000
2007: 6.622.000
2006: 4.473.000
2005: 1.058.000
Result after taxes 2011:
4.273.000
2010: 971.000
2009: -1.430.000
2008: 4.942.000
2007: 3.739.000
2006: 2.935.000
2005: 808.000
Tendency Upward
Tendency Capital
& Reserves
Capital and reserves 2011
27.658.000
Total debt 2011
14.245.000
Current ratio 2011
2,41
Quick ratio 2011
1,53
Nett workingcapital 2011 20.019.000
Profitability More
than sufficient
Solvency More
than sufficient
Liquidity Sufficient
Currency Euro
Current &
Quick ratio
Balance sheet
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
End of bookyear |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
Tangible assets |
7.662.000 |
8.277.000 |
8.636.000 |
|
Financial assets |
241.000 |
282.000 |
321.000 |
|
Fixed assets |
7.903.000 |
8.559.000 |
8.957.000 |
|
|
|||
|
Stocks and work in progress |
12.460.000 |
13.274.000 |
10.854.000 |
|
Trade debtors |
9.741.000 |
9.775.000 |
8.206.000 |
|
Other amounts receivable |
8.815.000 |
8.820.000 |
5.873.000 |
|
Accounts receivable |
18.556.000 |
18.595.000 |
14.079.000 |
|
Liquid assets |
3.248.000 |
506.000 |
287.000 |
|
Deferred charges and accrued income |
8.815.000 |
8.820.000 |
5.873.000 |
|
Current assets |
34.264.000 |
32.375.000 |
25.220.000 |
|
Total assets |
42.167.000 |
40.934.000 |
34.177.000 |
|
|
|||
|
Capital and reserves |
27.658.000 |
23.385.000 |
22.430.000 |
|
Provisions |
264.000 |
279.000 |
114.000 |
|
Trade debts suppliers |
4.075.000 |
3.637.000 |
3.639.000 |
|
Other short term debts |
10.170.000 |
13.633.000 |
7.994.000 |
|
Total short term debt |
14.245.000 |
17.270.000 |
11.633.000 |
|
Total debt |
14.245.000 |
17.270.000 |
11.633.000 |
|
Total Liabilities |
42.167.000 |
40.934.000 |
34.177.000 |
PROFIT & LOSS
ACCOUNT
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Turnover |
89.556.000 |
75.116.000 |
72.235.000 |
|
Other operating income |
|
191.000 |
|
|
Nett Turnover |
89.556.000 |
74.925.000 |
72.235.000 |
|
Wages employees |
|
11.088.000 |
|
|
Depreciation and amortization |
985.000 |
|
1.042.000 |
|
Raw materials |
72.525.000 |
62.400.000 |
61.469.000 |
|
Other operating charges |
10.053.000 |
83.000 |
11.166.000 |
|
Operating charges |
83.563.000 |
73.571.000 |
73.677.000 |
|
Operating profit |
5.993.000 |
1.545.000 |
-1.442.000 |
|
Financial income |
9.000 |
|
69.000 |
|
Financial charges |
193.000 |
155.000 |
263.000 |
|
Financial result |
-184.000 |
|
-194.000 |
|
Result before taxes |
5.809.000 |
|
-1.636.000 |
|
Income taxes |
1.536.000 |
419.000 |
-206.000 |
|
Result after taxes |
4.273.000 |
|
-1.430.000 |
|
Nett result |
4.273.000 |
971.000 |
-1.430.000 |
History
Management Per 31-05-2012 is Proxy
Maria Elizabeth Lamberta van Stratum out of office.
Per 30-06-2012 is Proxy Denny Thomassen out of office.
Per 31-03-2012 is Proxy Martijn
Bernardus Alfonsius Nijhof out of office.
Per 30-06-2012 is Proxy Paulus
Johannes Wilhelmus Maria Nagels
out of office.
Per 01-01-2011 is Proxy Michael Alexander
Chalmers appointed.
Per 01-09-2011 is Commissaris
Luis Antonio Oliveira e Cunha de Vasconcelos Dias
appointed.
Per 01-03-2011 is Proxy Dominick Patriarca out of office.
Per 01-09-2011 is Commissaris
Daniel Earl Mc Millin out of office.
Per 01-06-2011 is Proxy Denny Thomassen appointed.
Per 01-02-2011 is Proxy Petrus
Johannes Titus Maria de Bie appointed.
Per 01-06-2011 is Proxy Maria Elizabeth Lamberta van Stratum appointed.
Per 01-06-2011 is Proxy Martijn
Bernardus Alfonsius Nijhof appointed.
Per 28-02-2011 is Proxy Alberta Catharina de
Weijer-van Ingen out of
office.
Per 31-05-2011 is Proxy Willem Frederik Grifhorst out of office.
Per 01-07-2010 is Commissaris
Thomas Anthony Flohn appointed.
Per 30-06-2010 is Commissaris
David Michael Leblanc out of office.
Per 30-06-2010 is Commissaris
Hendrik Frans Perrée out of office.
Company structure
Lincoln Electric International (990005435406)
Lincoln Electric
Dutch Activities of holding companies B.V. (11023795)
NIJMEGEN
Subsidiary
Lincoln Electric
Europe B.V. (10028433)
NIJMEGEN
Subsidiary
Lincoln Smitweld B.V. (10019285)
Nijmegen
Subsidiary (100%)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.09 |
|
UK Pound |
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.70.49 |
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 |
|
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.