MIRA
INFORM REPORT
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Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
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Name : |
THEOBROMA HOLDING B.V. |
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Registered Office : |
De entree 252, 1101EE Amsterdam |
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Country : |
Netherlands |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
27.05.2005 |
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Com. Reg. No.: |
34227251 |
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Legal Form : |
Private Company |
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Line of Business : |
·
Processing of cocoa ·
Financial holdings |
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No. of Employees : |
142 |
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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Maximum Credit Limit : |
EUR 1.000.000 |
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Status : |
Satisfactory |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 2012-13 tax revenues
dropped, 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 |
Summary
Company name THEOBROMA
HOLDING B.V.
Operative address De
entree 252
1101EE Amsterdam
Netherlands
Credit limit EUR
1.000.000
Legal form Private Company
Registration number KvK-nummer: 34227251
VAT-number
814550617
Year 2012 Mutation 2011 Mutation
2010
Fixed assets 8.178.536
38,31 5.913.065
-75,94 24.573.654
Total receivables 57.151.024
-16,31 68.288.752 774,59
7.808.083
Total equity 44.474.894
13,52 39.177.123 40,98 27.789.770
Short term liabilities 68.060.201
-3,58 70.587.548 1.433,26
4.603.753
Net result 5.440.372
-52,82 11.529.954
Working capital 43.150.940 0,63 42.880.908
1.233,31 3.216.116
Quick ratio 0,85
-15,84 1,01 -40,59 1,70
Contact information
Company name Theobroma Holding B.V.
Trade names Theobroma Holding B.V.
Theobroma Holding B.V.
Operative address De
entree 252
1101EE Amsterdam
Netherlands
Correspondence address Postbus 12001
1100AA Amsterdam Zuidoost
Netherlands
Telephone number 0205675911
Fax number 0205675980
Website www.theobroma.nl
Registration
Registration number KvK-nummer: 34227251
Branch number 000018410553
VAT-number 814550617
Status Active
First registration
company register 2005-05-31
Memorandum 2005-05-27
Establishment date 2005-05-27
Legal form Private Company
Last proposed
admendment 2010-09-21
Activities
SBI Processing
of cocoa (10821)
Financial holdings (6420)
Exporter No
Importer No
Goal Holding Company
Relations
Shareholders N.V. Bromacom
De entree 252
1101EE AMSTERDAM ZUIDOOST
Netherlands
Registration number: 330145690000
Percentage: 100.00%
Companies on same
address Theobroma International B.V.
Registration number: 331214560000
N.V. Bromacom
Registration number: 330145690000
Sagitta B.V.
Registration number: 330994030000
Stichting Prioriteit Theobroma
Registration number: 341099510000
Stichting Sociaal Fonds Theobroma
Registration number: 412008800000
Theobroma B.V.
Registration number: 341700330000
Ampimex International
B.V.
Registration number: 341808950000
Tulip Cocoa Holding B.V.
Registration number: 280975960000
Unicom Holding B.V.
Registration number: 341451320000
Management
Active management W.G.J.J. Groen (Wilhelmus Gerhard Jacobus Joha)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2005-05-27
Date of birth: 1955-03-10, Zandvoort, NL
W.G.J.J. Groen (Wilhelmus Gerhard Jacobus Joha)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2005-05-27
Date of birth: 1955-03-10, Zandvoort, NL
K.A. de Gruiter (Karel August)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2009-09-08
Date of birth: 1968-05-21, Soest, NL
K.A. de Gruiter (Karel August)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2009-09-08
Date of birth: 1968-05-21, Soest, NL
Employees
Year 2012 2011 2010 2008 2007
Total 142 138 1
76 36
Payments
Score 8
Description Payments made
under regular condition
Key figures
Year 2012 2011 2010 2009
2008
Quick ratio
0,85 1,01 1,70
Current ratio 1,63
1,61 1,70
Working capital/ balance total 0,36
0,36 0,10 0,03 0,07
Equity / balance total 0,37
0,33 0,86 1,00 1,00
Equity / Fixed assets 5,44
6,63 1,13 1,03 1,07
Equity / liabilities 0,59 0,49 6,04
Balance total / liabilities 1,59
1,49 7,04
Working capital 43.150.940
42.880.908 3.216.116 647.296
1.135.004
Equity 44.474.894
39.177.123 27.789.770 24.671.433
16.800.780
Mutation equity 13,52
40,98 12,64 46,85 2,25
Mutation short term liabilities -3,58
1.433,26
Return on total assets (ROA) 15,43
11,88
Return on equity (ROE)
41,43 36,20
Gross profit margin 5,47
3,14
Net profit margin 1,50
2,52
Average collection ratio
5,33 6,48
Average payment ratio
6,35 6,70
Equity turnover ratio 8,16
11,68
Total assets turnover ratio 3,04
3,83
Fixed assets turnover ratio 44,39
77,41
Inventory conversion ratio 6,81
10,87
Turnover 363.063.995
457.726.246
Gross margin 32.686.732
16.357.515
Operating result 19.857.678
14.353.771
Net result after taxes 5.440.372
11.529.954
Cashflow 6.345.608
12.870.611
Gross profit 457.726.246
EBIT 19.857.678 14.353.771
EBITDA 20.762.914
15.694.428
Summary The 2012 financial
result structure is a postive working captial of 43.150.940 euro, which is in agreement with 36 %
of the total assets of the company.
The working capital and the proportion with
respect to the total assets of the company has remained unchanged compared to
previous year.
The unchanged capital can be explained by an
increase in current assets and a decrease in current liabilities.
The current ratio of the company in 2012 was
1.63. A company with a current ratio between 1.5 and 3.0 generally indicates
good short-term financial strength.
The quick ratio in 2012 of the company was
0.85. A company with a Quick Ratio of less than 1 cannot currently pay back its
current liabilities.
The 2011 financial result structure is a postive working captial of 42.880.908
euro, which is in agreement with 36 % of the total assets of the company.
The working capital has increased with
1233.31 % compared to previous year. The ratio, with respect to the total
assets of the company has however, increased.
The improvement between 2010 and 2011 has
mainly been caused by a current liabilities reduction.
The current ratio of the company in 2011 was
1.61. A company with a current ratio between 1.5 and 3.0 generally indicates
good short-term financial strength.
The quick ratio in 2011 of the company was
1.01. A company with a Quick Ratio of more than 1 can currently pay back its
current liabilities.
Financial statement
Type of annual account Consolidated
Annual account Theobroma Holding B.V.
De entree 252
1101EE Amsterdam
Netherlands
Registration number: 342272510000
Balance
Year 2012 2011 2010 2009
2008
End date 2012-09-30 2011-09-30 2010-09-30
2009-10-31 2008-10-31
Tangible fixed assets 8.163.536
5.898.065
Financial fixed assets 15.000 15.000 24.573.654 24.024.137
15.665.776
Fixed assets 8.178.536
5.913.065 24.573.654 24.024.137
15.665.776
Inventories 53.283.436
42.104.049
Accounts receivable 28.913.056
28.771.585
Other receivables 28.237.968
39.517.167
Total receivables 57.151.024 68.288.752 7.808.083 552.235
1.134.887
Liquid funds 776.681
3.075.655 11.786 95.061 117
Current assets 111.211.141
113.468.456 7.819.869 647.296 1.135.004
Total assets 119.389.677
119.381.521 32.393.523 24.671.433
16.800.780
Total equity 44.474.894
39.177.123 27.789.770 24.671.433
16.800.780
Provisions 6.854.582
9.616.850
Accounts payable
9.196.559 8.169.143
Other short term liabilities 58.863.642 62.418.405
Short term liabilities 68.060.201
70.587.548 4.603.753
Total short and long
term liabilities 74.914.783
80.204.398 4.603.753
Total liabilities 119.389.677
119.381.521 32.393.523 24.671.433
16.800.780
Summary The
total assets remained the same between 2011 and 2012.
Despite the fact that the total assets
remained the same, the fixed assets increased with 38.31 %.
Despite thee unchanged assets the net worth
grew with 13.52 %, which has resulted in the fact that the company's
indebtedness declined with -6.6 %.
In 2012 the assets of the company were 6.85
% composed of fixed assets and 93.15 % by current assets. The assets are being
financed by an equity of 37.25 %, and total debt of 62.75 %.
The total assets of the company increased
with 268.54 % between 2010 and 2011.
Despite the assets growth, the non current
assets decreased with -75.94 %.
The asset growth has mainly been financed by
a debt increase of 1642.15 %. The Net Worth, however, grew with 40.98 %.
In 2011 the assets of the company were 4.95
% composed of fixed assets and 95.05 % by current assets. The assets are being
financed by an equity of 32.82 %, and total debt of 67.18 %.
Profit and loss
Year 2012 2011
Revenues 363.063.995
466.511.284
Other operating income 8.785.038
Net turnover 363.063.995
457.726.246
Gross margin 32.686.732
16.357.515
Wages and salaries 9.279.367
6.928.674
Amorization and depreciation 905.236 1.340.657
Sales 330.377.263
441.368.731
other operating costs 2.644.451
2.519.451
Operating expenses 343.206.317
452.157.513
Operating result 19.857.678
14.353.771
Financial income 1.419.794
Financial expenses 1.433.213
1.592.756
Financial result -1.433.213
-172.962
Result on ordinary operations before taxes 18.424.465 14.180.809
Taxation on the result of ordinary activities 1.935.023 2.650.855
Result of ordinary activities after taxes 16.489.442 11.529.954
Extraordinary expense 11.049.070
Extraordinary result after taxation -11.049.070
Net result 5.440.372
11.529.954
Summary The
turnover of the company decreased by -20.68 % between 2011 and 2012.
The gross profit of the company grew with
99.83 % between 2011 and 2012.
The operating result of the company grew
with 38.34 % between 2011 and 2012. This evolution implies an increase of the
company's economic profitability.
The result of these changes is an increase
of the company's Economic Profitability of 29.88 % of the analysed
period, being equal to 2011 % in the year 2012.
Despite the growth the assets turnover
decreased, whose index evolved with -20.63 % to a level of 3.04.
The Net Result of the company increased by
-52.82 % between 2011 and 2012.
The company's Financial Profitability has
been positively affected by the financial activities in comparison to the EBITs behaviour. The result of
these variations is a profitability increase of 14.45 % of the analysed period, being 41.43 % in the year 2012.
The company's financial structure has slowed
down its financial profitability.
The company's Financial Profitability has
been neutrally affected by the financial activities in comparison to the EBITs behaviour. The result of
these variations is the unchanged profitability of the analysed
period, remaining unchanged at 36.2 % in the year 2011.
Analysis
Branch (SBI) Manufacture
of food products (10)
Region Groot Amsterdam
In the Netherlands 6059 of the companies are
registered with the SBI code 10
In the region Groot
Amsterdam 474 of the companies are registered with the SBI code 10
In the Netherlands 140 of the bankrupcties are published within this sector
In the region Groot
Amsterdam 14 of the bankruptcies are published within this sector
The risk of this specific sector in the
Netherlands is normal
The risk of this specific sector in the
region Groot Amsterdam is normal
Publications
Filings 09-08-2013:
De jaarrekening over 2012 (gebroken
boekjaar) is gepubliceerd.
13-03-2013: De jaarrekening
over 2011 (gebroken boekjaar)
is gepubliceerd.
26-10-2011: De jaarrekening
over 2010 (gebroken boekjaar)
is gepubliceerd.
18-10-2011: De jaarrekening
over 2009 (gebroken boekjaar)
is gepubliceerd.
25-03-2010: De jaarrekening
over 2006 is gepubliceerd.
25-03-2010: De jaarrekening
over 2007 is gepubliceerd.
25-03-2010: De jaarrekening
over 2008 is gepubliceerd.
Amendments 28-09-2010:
Per 21-9-2010 statuten gewijzigd.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
|
1 |
Rs.99.36 |
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Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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.