MIRA
INFORM REPORT
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Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HEIPLOEG BV
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Registered Office : |
Panserweg 14,
Postbus 2, Zoutkamp, 9974 ZG |
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Country : |
Netherlands |
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Financials (as on) : |
31.03.2012 |
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Year of Establishments: |
1900 |
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Com. Reg. No.: |
02022924 |
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Legal Form : |
Private
Subsidiary Company |
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Line of Business : |
Processing, production and packaging of shrimp
and prawns |
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No. of Employees : |
272 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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
Heiploeg BV
Panserweg 14
Postbus 2
Zoutkamp, 9974 ZG
Netherlands
Tel: 31 (595) 40 55 55
Fax: 31 (595) 40 23 54
Web: www.heiploeg.nl
synthesis
Employees: 272
Company Type: Private
Subsidiary
Corporate Family: 9 Companies
Ultimate Parent: Heiploeg Holding B.V.
Incorporation Date: 1900
Financials in: Usd (Millions)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Euro
Annual Sales:
315.0
Total Assets:
173.9
Business
Description
Processing, production and packaging of shrimp and
prawns
Industry
Industry
Food Manufacturing
ANZSIC 2006: 1120 - Seafood Processing
ISIC Rev 4: 1020 - Processing and preserving of fish,
crustaceans and molluscs
NACE Rev 2: 1020 - Processing and preserving of fish,
crustaceans and molluscs
NAICS 2012: 311710 - Seafood Product Preparation and
Packaging
UK SIC 2007: 1020 - Processing and preserving of fish,
crustaceans and molluscs
US SIC 1987: 2092 - Prepared Fresh or Frozen Fish and
Seafoods
Key Executives
|
Name |
Title |
|
E. Eisinga |
Sales manager |
|
O. Pouw |
Purchasing manager |
|
Mark Nijhof |
Quality Manager |
|
H. Cornelissen |
Head of accounting department |
|
Micha Boer |
Member of the board |
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
Panserweg 14
Postbus 2
Zoutkamp, 9974 ZG
Netherlands
Tel: 31
(595) 40 55 55
Fax: 31 (595) 40 23 54
Web: www.heiploeg.nl
Sales EUR(mil): 229.0
Assets EUR(mil): 131.0
Employees: 272
Fiscal Year End: 31-Mar-2012
Industry: Food
Processing
Incorporation
Date: 1900
Company Type: Private
Subsidiary
Quoted Status: Not Quoted
Registered
No.(NLD): 02022924
Head of accounting department:
H. Cornelissen
Industry Codes
ANZSIC 2006
Codes:
1120 - Seafood
Processing
ISIC Rev 4 Codes:
1020 - Processing
and preserving of fish, crustaceans and molluscs
NACE Rev 2 Codes:
1020 - Processing
and preserving of fish, crustaceans and molluscs
NAICS 2012 Codes:
311710 - Seafood
Product Preparation and Packaging
US SIC 1987:
2092 - Prepared
Fresh or Frozen Fish and Seafoods
2091 - Canned and Cured Fish and Seafoods
UK SIC 2007:
1020 - Processing
and preserving of fish, crustaceans and molluscs
Business Description
Processing,
production and packaging of shrimp and prawns
More Business Descriptions
Heiploeg B.V. is
primarily engaged in freezing of fish; and other fish processing and
preserving.
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Corporate Family |
Corporate
Structure News: |
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Heiploeg
Holding B.V. |
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Heiploeg BV |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Heiploeg Holding B.V. |
Parent |
Zoutkamp, Groningen |
Netherlands |
Holding Companies |
370.4 |
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Heiploeg Beheer B.V. |
Subsidiary |
Zoutkamp, Groningen |
Netherlands |
Banking |
363.2 |
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Heiploeg Seafood B.V. |
Subsidiary |
Zoutkamp, Groningen |
Netherlands |
Clothing and Apparel Manufacturing |
19.3 |
244 |
|
Heitrans B.V. |
Subsidiary |
Zoutkamp, Groningen |
Netherlands |
Trucking |
20.9 |
31 |
|
Heiploeg BV |
Subsidiary |
Zoutkamp |
Netherlands |
Food Manufacturing |
315.0 |
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Erste SGK
Verwaltungsgesellschaft mbH |
Subsidiary |
WOhrden, Schleswig-Holstein |
Germany |
Consulting Services |
|
4 |
|
BUsumer Fischerei-Gesellschaft
mbH & Co. KG |
Subsidiary |
WOhrden, Schleswig-Holstein |
Germany |
Grocery Wholesale |
50.8 |
56 |
|
Noord Zuid Beheer B.V. |
Subsidiary |
Zoutkamp, Groningen |
Netherlands |
Banking |
9.0 |
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Goldfish B.V. |
Subsidiary |
Zoutkamp, Groningen |
Netherlands |
Banking |
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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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Member of the board |
Director/Board Member |
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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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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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Head of accounting department |
Accounting Executive |
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Sales manager |
Sales Executive |
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Marketing manager |
Marketing Executive |
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Purchasing manager |
Purchasing Executive |
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Quality Manager |
Quality Executive |
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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 |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
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Consolidated |
No |
No |
No |
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Total income |
315.0 |
287.7 |
289.4 |
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Net sales |
315.0 |
287.7 |
289.4 |
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Total operating costs |
319.8 |
284.2 |
275.9 |
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Net operating income |
- |
3.5 |
13.5 |
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Total financial income |
0.5 |
0.4 |
- |
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Total expenses |
2.5 |
2.3 |
0.9 |
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Profit before tax |
- |
1.7 |
12.6 |
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Profit on ordinary activities after tax |
-5.7 |
1.2 |
9.4 |
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Total taxation |
-1.2 |
0.4 |
3.3 |
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Profit after tax |
-5.7 |
1.2 |
9.4 |
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Net profit |
- |
1.2 |
9.4 |
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Net loss |
-5.7 |
- |
- |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
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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Other reserves |
35.8 |
37.0 |
26.2 |
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Profit brought forward from previous year(s) |
- |
1.3 |
9.0 |
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Total stockholders equity |
30.6 |
38.6 |
35.5 |
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Provisions and allowances |
0.3 |
- |
- |
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Total long-term liabilities |
0.4 |
1.1 |
1.4 |
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Trade creditors |
29.9 |
24.7 |
15.4 |
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Total current liabilities |
142.5 |
142.6 |
115.8 |
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Total liabilities (including net worth) |
173.9 |
182.3 |
152.8 |
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Total tangible fixed assets |
11.2 |
9.1 |
8.4 |
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Total asset investment |
51.8 |
- |
0.2 |
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Total non-current assets |
63.0 |
9.1 |
8.7 |
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Net stocks and work in progress |
53.1 |
55.8 |
54.1 |
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Trade debtors |
44.6 |
32.9 |
29.7 |
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Other receivables |
12.3 |
18.7 |
25.4 |
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Total receivables |
56.9 |
51.6 |
55.2 |
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Cash and liquid assets |
0.9 |
65.7 |
34.8 |
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Total current assets |
110.9 |
173.2 |
144.1 |
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Total assets |
173.9 |
182.3 |
152.8 |
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 |
0.80 |
1.20 |
1.20 |
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Acid test ratio |
0.40 |
0.80 |
0.80 |
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Current liabilities to net worth |
4.66% |
3.70% |
3.26% |
|
Fixed assets to net worth |
2.06% |
0.24% |
0.24% |
|
Collection period |
53.60 |
38.80 |
39.10 |
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Stock turnover rate |
5.70 |
5.50 |
5.10 |
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Sales to net working capital |
-9.60 |
10.10 |
9.80 |
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Asset turnover |
1.75% |
1.70% |
1.82% |
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Profit margin |
-0.02% |
0.01% |
0.04% |
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Return on assets |
-0.04% |
0.01% |
0.08% |
|
Shareholders' return |
-0.22% |
0.05% |
0.34% |
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Sales per employee |
841.89 |
7,260.83 |
6,615.23 |
|
Profit per employee |
-18.29 |
42.23 |
288.74 |
|
Return on capital |
-0.21% |
-0.02% |
0.31% |
|
Net worth |
30.6 |
38.6 |
35.5 |
|
Number of employees |
272 |
30 |
31 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
UK Pound |
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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.