MIRA INFORM REPORT

 

 

Report Date :

02.10.2013

 

IDENTIFICATION DETAILS

 

Name :

MECAL PANTHEON B.V.

 

 

Registered Office :

Capitool 15, Enschede, 7521 PL 

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

31.05.1999

 

 

Com. Reg. No.:

06091007

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Subject engaged in architectural activities; urban planning and landscape architectural activities; quantity surveying activities; engineering consultative and design activities; engineering related scientific and technical consulting activities; and other engineering activities.

 

 

No. of Employees :

150

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

 

 

 

 

COMPANY NAME & ADDRESS

 

MECAL PANTHEON B.V.

                                                                                                                                                               

 

Capitool 15

Enschede, 7521 PL

Netherlands

Tel:       +31 053-4821400

 

 

 SYNTHESIS

 

Employees:                  150

Company Type:            Private Subsidiary

Corporate Family:         3 Companies

Ultimate Parent:            Mecal B.V.

Incorporation Date:       31-May-1999

Financials in:                 USD (mil)

Fiscal Year End:           31-Dec-2011

Reporting Currency:      Euro

Annual Sales:                NA

Total Assets:                6.3

 

 

Business Description     

 

 

Mecal Pantheon B.V. is primarily engaged in architectural activities; urban planning and landscape architectural activities; quantity surveying activities; engineering consultative and design activities; engineering related scientific and technical consulting activities; and other engineering activities.

 

 

Industry

 

 

Industry                 Photographic Services

ANZSIC 2006:        6991 - Professional Photographic Services

ISIC Rev 4:            7420 - Photographic activities

NACE Rev 2:         7420 - Photographic activities

NAICS 2012:          54192 - Photographic Services

UK SIC 2007:         7420 - Photographic activities

US SIC 1987:         8711 - Engineering Services

                           

 Key Executives  

   

 

Name

Title

 

Hindericus Jungman

Managing director

 

R. Jungman

Personnel manager

 

 

Registered No.(NLD):06091007

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327

 

 

 

Corporate Overview

Location
Capitool 15
Enschede, 7521 PL
Netherlands

 

Tel:

+31 053-4821400

 

L

Sales EUR(mil):

NA

Assets EUR(mil):

4.9

Employees:

150

Fiscal Year End:

31-Dec-2011

 

 

 

Industry:

Photography

Incorporation Date:

31-May-1999

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(NLD):

06091007

 

Managing director:

Hindericus Jungman

 

Industry Codes

 

 

ANZSIC 2006 Codes:

6991

-

Professional Photographic Services

 

ISIC Rev 4 Codes:

7420

-

Photographic activities

 

NACE Rev 2 Codes:

7420

-

Photographic activities

 

NAICS 2012 Codes:

54192

-

Photographic Services

 

US SIC 1987:

8711

-

Engineering Services

 

UK SIC 2007:

7420

-

Photographic activities

 

 

Business Description

 

Mecal Pantheon B.V. is primarily engaged in architectural activities; urban planning and landscape architectural activities; quantity surveying activities; engineering consultative and design activities; engineering related scientific and technical consulting activities; and other engineering activities.

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Assets:

4.9

Current Assets:

4.7

 

Total Liabilities:

4.9

 

Net Worth:

4.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

 

 

Key Corporate Relationships

 

Bank:

ABN AMRO Bank NV

 

 

 

 

 

 

 

 

 

 

 

 

CORPORATE FAMILY

CORPORATE STRUCTURE NEWS:

 

Mecal B.V.
Mecal Pantheon B.V.

Mecal Pantheon B.V.
Total Corporate Family Members: 3

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Mecal B.V.

Parent

Enschede, Overijssel

Netherlands

Banking

 

 

 

Mecal Pantheon B.V.

Subsidiary

Enschede, Overijssel

Netherlands

Photographic Services

 

150

 

Mecal Applied Mechanics B.V.

Subsidiary

Enschede, Overijssel

Netherlands

Photographic Services

 

100

 

 

 

 

 

 

 

 

Executives Report

 

Executives

 

Name

Title

Function

 

Hindericus Jungman

 

Managing director

Managing Director

 

R. Jungman

 

Personnel manager

Human Resources Executive

 

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Share premium account

0.1

0.1

0.1

Other reserves

5.0

2.6

2.9

Total stockholders equity

5.1

2.7

3.0

Total current liabilities

1.2

0.9

1.2

Total liabilities (including net worth)

6.3

3.6

4.2

Total tangible fixed assets

0.3

0.3

0.2

Total non-current assets

0.3

0.3

0.2

Net stocks and work in progress

1.5

1.1

0.5

Total receivables

3.9

2.2

3.5

Cash and liquid assets

0.6

0.0

0.0

Total current assets

6.1

3.4

4.0

Total assets

6.3

3.6

4.2

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Current ratio

5.10

3.80

3.30

Acid test ratio

3.80

2.50

2.90

Current liabilities to net worth

0.23%

0.33%

0.41%

Fixed assets to net worth

0.05%

0.09%

0.06%

Net worth

5.1

2.7

3.0

Number of employees

21

15

11

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.35

UK Pound

1

Rs.101.20

Euro

1

Rs.84.53

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)