MIRA
INFORM REPORT
|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEYN FOOD PROCESSING TECHNOLOGY B.V. |
|
|
|
|
Registered Office : |
Westeinde 6, 1511MA Oostzaan |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
1959 |
|
|
|
|
Com. Reg. No.: |
35015165 |
|
|
|
|
Legal Form : |
Besloten
Vennootschap |
|
|
|
|
Line of Business : |
Manufacture
of machinery for food |
|
|
|
|
No. of Employees : |
448 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 sixth-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 in 2011. In 2012 tax revenues dropped nearly 9%, GDP contracted, and the budget deficit deteriorated. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent.
|
Source
: CIA |
CONTACT INFORMATION
|
Company name |
MEYN FOOD PROCESSING TECHNOLOGY B.V. |
|
Tradename |
Meijn Refrigeration |
|
|
Meijn Turkey and Duck Processing |
|
|
Meijn Rendering |
|
|
Meyn Poultry Processing Solutions |
|
|
Meyn Food Processing Technology |
|
|
Meyn Refrigeration |
|
|
Meyn Turkey and Duck Processing |
|
|
Meyn Rendering |
|
|
Meyn Food Processing Technology B.V. |
|
Address |
Westeinde 6 |
|
|
1511MA Oostzaan |
|
|
Netherlands |
|
Mail address |
Westeinde 6 |
|
|
1511MA Oostzaan |
|
|
Netherlands |
|
Telephone number |
0202045000 |
|
Telefax number |
0202045001 |
|
E-mail address |
|
|
Website |
|
|
VAT number / RSIN |
005421184 |
|
Branch(es) |
Meyn Food Processing Technology B.V. (35015165.0001) |
|
|
Westeinde 4 |
|
|
1511MA OOSTZAAN |
|
|
Meyn Food Processing Technology B.V. (35015165.0002) |
|
|
Ronde Tocht 26 - 28 |
|
|
1507CC ZAANDAM |
|
|
Meyn Food Processing Technology B.V. (35015165.0003) |
|
|
Sluispolderweg 25 B, C en D |
|
|
1505HJ ZAANDAM |
|
|
Meyn Food Processing Technology B.V. (35015165.0004) |
|
|
Industrieweg 13 C |
|
|
1521NC WORMERVEER |
|
|
Meyn Food Processing Technology B.V. (35015165.0005) |
COMPANY INFORMATION
|
Handelsregisternummer |
35015165 |
|
Registered in |
Chamber of commerce Amsterdam |
|
Act of foundation |
13-08-1979 |
|
Date of constitution |
00-00-1959 |
|
Continuation date |
13-08-1979 |
|
Last change in statutes |
09-02-2010 |
|
Legal form |
Besloten Vennootschap |
|
Place of constitution |
Oostzaan |
|
Capital |
EUR |
|
Issued capital |
EUR 46.000 |
|
Paid up capital |
EUR 46.000 |
|
Legal form at first registration |
Besloten Vennootschap |
|
NACE-code |
Manufacture of machinery for food (2953) |
|
SBI-code |
Manufacture of machinery for food, beverage and tobacco
processing (2893) |
|
Formal objective |
Het ontwerpen, fabriceren, verhuren en leasen van, alsmede
de handel in machinery, installaties en systemen in het general en in het
bijzonder voor de pluimveeverwerkende-en voedingsmiddelenindustrie en op het
gebied van koeling, waterzuivering, rendering en procesbesturing |
|
Import |
The whole world |
|
Export |
The whole world |
|
Employees Employees group |
Total: 448 Group: 1017 |
|
|
|
|
Bookyear |
|
2011 |
2010 |
2009 |
|
Number Change |
|
448 -17,95% |
546 -0,73% |
550 |
COMPANY STRUCTURE
Shareholder Meyn
Beheer B.V.
Westeinde 6
1511MA OOSTZAAN
Netherlands
KvK: 35009569
Active since: 13-09-1979
Percentage: 100.00%
Ultimate parent company
Coöperatieve Meyn UA
Noordeinde 68
1511AE OOSTZAAN
KvK: 34270853
Holding company Meyn Beheer
B.V.
Westeinde 6
1511MA OOSTZAAN
KvK: 35009569
Affiliated
companies Numafa
Holding B.V.
Edisonstraat 1
3281NC Numansdorp
KvK: 23040065
Liability declaration
Meyn Beheer
B.V. (35009569)
Westeinde 6
1511MA OOSTZAAN
Issue date: 05-06-2008
Since: 31-05-2008
Bank ABN
Amro Bank NV
Account number:
54.57.08.168
MeesPierson NV
Account number:
21.33.29.549
Rabobank
Netherlands
Account number:
35.05.00.401
Real estate Group-property
owned
Surface: 45000 m2
The real estate is
checked at the land registration office
Object code:
OOSTZAAN G 650 / OOSTZAAN G 239 / OOSTZA
Owner: MAYJN
BEHEER B.V.
MANAGEMENT
Management Meyn
Beheer B.V.
Westeinde 6
1511MA OOSTZAAN
Netherlands
KvK : 35009569
Authorization : Fully authorized
Position : Manager
Date appointed : 01-09-1991
H.H.J. Defauwes
Herman Hubertus
Jacobus
1521NC
Authorization : Fully authorized
Position :
Manager
Date appointed :
30-07-1999
Date of birth : 19-04-1964
PAYMENT INFORMATION
Payment experiences Payments
are regular, no complaints are known
Payments Based
on multiple payment experiences up to € 50.000
Quarter: 1 2013:
35 Average days
Quarter: 2 2013:
45 Average days
Quarter: 3 2013:
42 Average days
Quarter: 4 2013:
31 Average days
|
|
invoices |
current
quarter |
2013 Q3 |
2013 Q2 |
2013 Q1 |
|
|
Total |
256 |
100% |
792.723 |
922.798 |
853.189 |
919.905 |
|
Within terms |
173 |
97,3% |
771.349 |
425.121 |
576.564 |
582.754 |
|
Delayed 0 – 30 |
71 |
2,7% |
21.374 |
412.927 |
256.487 |
325.916 |
|
Delayed 31 - 60 |
7 |
0,0% |
|
66.715 |
11.120 |
11.235 |
|
Delayed 61 - 90 |
3 |
0,0% |
|
18.035 |
9.018 |
|
|
Delayed 91 – 120 |
1 |
0,0% |
|
|
|
|
|
Delayed 120+ days |
1 |
0,0% |
|
|
|
|
FINANCIAL INFORMATION
|
Auditor |
PRICEWATERHOUSECOOPERS N.V |
|
Type of publication |
Consolidated |
|
Annual accounts van |
Meyn Beheer B.V. |
|
|
Westeinde 6 |
|
|
1511MA OOSTZAAN |
|
|
KvK: 35009569 |
|
Publication |
Publication according to obligations by law |
|
CORE
FIGURES |
|
|
|
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Quick
ratio |
0,58 |
0,66 |
0,70 |
|
Current
ratio |
0,78 |
0,95 |
0,99 |
|
Nett
workingcapital / Balance total |
-0,12 |
-0,02 |
-0,00 |
|
Capital
and reserves / Balance total |
0,22 |
0,16 |
0,14 |
|
Capital
and reserves / Fixed assets |
0,38 |
0,29 |
0,23 |
|
Solvency |
0,30 |
0,21 |
0,18 |
|
Nett
workingcapital |
-19.167.000 |
-3.493.000 |
-303.000 |
|
Capital
and reserves |
36.499.000 |
26.611.000 |
22.157.000 |
|
Change
capital and reserves |
37,16% |
20,10% |
-1,40% |
|
change
short term liabilities |
18,64% |
29,40% |
-35,27% |
|
Operating
profit |
19.613.000 |
11.813.000 |
-7.849.000 |
|
Nett
Turnover |
203.832.000 |
168.916.000 |
142.870.000 |
|
Type of publication |
Corporate |
|
Turnover |
2011:
203.832.000 |
|
|
2010:
168.916.000 |
|
|
2009:
142.870.000 |
|
|
2008:
220.214.000 |
|
Operating profit |
2011:
19.613.000 |
|
|
2010:
11.813.000 |
|
|
2009:
-7.849.000 |
|
|
2008:
21.768.000 |
|
Result after taxes |
2011:
10.080.000 |
|
|
2010:
2.733.000 |
|
|
2009:
-12.604.000 |
Tendency
Tendency capital and reserves
Capital and reserves 2011
36.499.000
Total debt 2011
119.963.000
Current ratio 2011
0,78
Quick ratio 2011
0,58
Nett workingcapital 2011
-19.167.000
Profitability More
than sufficient
Solvency Limited
Liquidity Negative
Current- &
Quickratio
Currency
Euro
BALANCE
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
End
of bookyear |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
Intangible
assets |
71.724.000 |
72.627.000 |
75.153.000 |
|
Other
tangible assets |
|
20.526.000 |
|
|
Tangible
assets |
23.174.000 |
20.526.000 |
22.693.000 |
|
Other
financial assets |
|
49.000 |
|
|
Financial
assets |
50.000 |
49.000 |
55.000 |
|
Fixed
assets |
94.948.000 |
93.202.000 |
97.901.000 |
|
|
|||
|
Stocks
and work in progress |
17.898.000 |
21.479.000 |
17.099.000 |
|
Trade
debtors |
24.884.000 |
19.376.000 |
15.422.000 |
|
Other
amounts receivable |
18.279.000 |
12.046.000 |
14.789.000 |
|
Accounts
receivable |
43.163.000 |
31.422.000 |
30.211.000 |
|
Liquid
assets |
7.988.000 |
17.965.000 |
9.851.000 |
|
Deferred
charges and accrued income |
18.279.000 |
12.046.000 |
14.789.000 |
|
Current
assets |
69.049.000 |
70.866.000 |
57.161.000 |
|
Total
assets |
163.997.000 |
164.068.000 |
155.062.000 |
|
|
|||
|
Capital
and reserves |
36.499.000 |
26.611.000 |
22.157.000 |
|
Provisions |
7.535.000 |
7.664.000 |
12.523.000 |
|
Achtergestelde
leningen |
|
7.437.000 |
|
|
Financial
debts |
|
7.437.000 |
|
|
other
long term debts |
|
47.997.000 |
|
|
Long
term liabilities |
31.747.000 |
55.434.000 |
62.918.000 |
|
Trade
debts suppliers |
16.643.000 |
16.650.000 |
16.944.000 |
|
Short
term interest yielding debt |
9.478.000 |
|
6.132.000 |
|
Other
short term debts |
62.095.000 |
57.709.000 |
34.388.000 |
|
Total
short term debt |
88.216.000 |
74.359.000 |
57.464.000 |
|
Total
debt |
119.963.000 |
129.793.000 |
120.382.000 |
|
Total
Liabilities |
163.997.000 |
164.068.000 |
155.062.000 |
|
|
|||
|
PROFIT
& LOSS ACCOUNT |
|
|
|
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Turnover |
200.496.000 |
171.321.000 |
135.555.000 |
|
Other
operating income |
-3.336.000 |
2.405.000 |
-7.315.000 |
|
Nett
Turnover |
203.832.000 |
168.916.000 |
142.870.000 |
|
Other
operating charges |
|
159.508.000 |
|
|
Operating
charges |
180.883.000 |
159.508.000 |
143.404.000 |
|
Operating
profit |
19.613.000 |
11.813.000 |
-7.849.000 |
|
Financial
income |
160.000 |
491.000 |
344.000 |
|
Financial
charges |
5.191.000 |
5.036.000 |
5.144.000 |
|
Financial
result |
-5.031.000 |
-4.545.000 |
-4.800.000 |
|
Result
before taxes |
14.582.000 |
7.268.000 |
-12.649.000 |
|
Income
taxes |
4.502.000 |
3.222.000 |
-1.900.000 |
|
Result
after taxes |
10.080.000 |
4.046.000 |
-10.749.000 |
|
Extraordinary
charges |
|
1.313.000 |
1.855.000 |
|
Extraordinary
result after taxes |
|
-1.313.000 |
-1.855.000 |
|
Nett
result |
10.080.000 |
2.733.000 |
-12.604.000 |
History
|
Liability statements |
Per 05-07-2007 filed a withdrawal of declaration of
liability by Meijn International B.V.. Per 05-07-2007 filed a declaration of
liability by Meyn Holding 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 Over bookyear 2008 a consent agreement is filed |
|
Management |
Per 24-01 -2013 manager Marco van Straaten out of office.
Per 31-07-2012 manager Han van der Broek out of office. |
|
Modifications |
Per 9-2-2010 is the
responsibility of manager Herman Hubertus Jacobus Defauwes changed.. Per 9-2-2010 is the responsibility of manager 35009569 Meyn
Beheer B.V. changed.. Per 9-2-2010 statutes modified. Per 9-2-2010 name
changed to: Meyn Food Processing Technology B.V.. |
Company structure
•
Cooperatieve Meyn UA (34270853)
OOSTZAAN
o Meyn Beheer B.V. (35009569)
OOSTZAAN
Subsidiary
·
Numafa
Holding B.V. (23040065)
Numansdorp
Subsidiary
·
Systemate
Numafa B.V. (23061316)
NUMALESDORP
Subsidiary
(100%)
·
Meyn
Food Processing Technology B.V. (35015165)
Oostzaan
Subsidiary
(100%)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.