MIRA INFORM REPORT
|
Report Date : |
25.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEKKER OLIFANTA B.V. |
|
|
|
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Registered Office : |
Veerpolder 7, 2361KX Warmond |
|
|
|
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.09.1982 |
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Com. Reg. No.: |
28055371 |
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|
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Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Wholesale and retail trade services of
sports clothing |
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|
|
|
No. of Employees : |
53 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 DEKKER
OLIFANTA B.V.
Operative address Veerpolder
7
2361KX Warmond
Netherlands
Legal form Private Company
Registration number KvK-nummer:
28055371
VAT-number 006168024
|
Year |
2012 |
Mutation |
2011 |
Mutation |
|
Fixed assets |
190.000 |
-34,71 |
291.000 |
|
|
Total receivables |
4.445.000 |
-23,69 |
5.825.000 |
|
|
Total equity |
41.677.000 |
2,40 |
40.700.000 |
|
|
Short term liabilities |
3.702.000 |
22,70 |
3.017.000 |
|
|
Net result |
977.000 |
25,90 |
776.000 |
|
|
Working capital |
41.910.000 |
2,85 |
40.750.000 |
|
|
Quick ratio |
11,81 |
-9,64 |
13,07 |
|
Contact
information
Company name Dekker
Olifanta B.V.
Trade names Dekker
Olifanta B.V.
Protest factory Outlet
Protest Factory Outlet
Protest Flagship Store
Protest Outlet Bataviastad
Protest Store
Operative address Veerpolder
7
2361KX Warmond
Netherlands
Correspondence address Postbus
47
2360AA Warmond
Netherlands
Telephone number
0713050222
Fax number
0713011843
Email address info@protest.eu
Website www.protestboardwear.com
| www.protest.eu
Registration
Registration number KvK-nummer:
28055371
Branch number 000008078025
VAT-number
006168024
Status Active
Memorandum 1982-09-07
Establishment date 1982-09-07
Legal form Private Company
Last proposed admendment 2004-06-14
Activities
SBI Wholesale
of outerwear (46421)
Shops selling
outerwear and clothing accessories (non-specialised) (47713)
Exporter Yes
Importer Yes
Goal Wholesale
and retail trade services of sports clothing
Relations
Branches Dekker
Olifanta B.V.
Voor Clarenburg 10- 12
3511JE UTRECHT
Netherlands
Registration number: 280553710001
Dekker Olifanta B.V.
Spilstraat 6BO 6
6211CP MAASTRICHT
Netherlands
Registration number: 280553710002
Dekker Olifanta B.V.
Rosada 12unit A 11
4703TB ROOSENDAAL
Netherlands
Registration number: 280553710003
Dekker Olifanta B.V.
Stadsplein 95
1181ZM AMSTELVEEN
Netherlands
Registration number: 280553710004
Dekker Olifanta B.V.
Bataviaplein 276
8242PV LELYSTAD
Netherlands
Registration number: 280553710005
Management
Active management C.
Dekker (Caroline)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2002-04-01
Date of birth: 1971-01-22, Wassenaar, NL
Involved with the following companies
• Sport, Party- & Conferentiecentrum
Dekker Zoetermeer B.V.
Scheglaan 12
2718KZ Zoetermeer
Netherlands
Registration number: 271276960000
Function: Manager
J.E. de Vries (Jan Ernst)
8242PN
Netherlands
Function: Commissaris
Starting date: 2005-01-01
Date of birth: 1956-12-06, Opsterland, NL
Involved with the following companies
• TBI Holdings B.V.
Wilhelminaplein 37
3072DE Rotterdam
Netherlands
Registration number: 241440640000
Function: Commissaris
• Oosterhof-Holman Milieutechniek B.V.
Kievitsweg 13
9843HA Grijpskerk
Netherlands
Registration number: 020300500000
Function: Commissaris
Employees
Total according to the Chamber of Commerce 53
Year 2014 2013 2012
2011 2009
Total 53 44 44
44 44
Payments
Description
Payments are made regularly no complaints are known
Key figures
|
Year |
2012 |
2011 |
|
|
Quick ratio |
11,81 |
13,07 |
|
|
Current ratio |
12,32 |
14,51 |
|
|
Working capital/ balance
total |
0,92 |
0,92 |
|
|
Equity / balance total |
0,91 |
0,92 |
|
|
Equity / Fixed assets |
219,35 |
139,86 |
|
|
Equity / liabilities |
10,10 |
12,12 |
|
|
Balance total /
liabilities |
11,10 |
13,12 |
|
|
Working capital |
41.910.000 |
40.750.000 |
|
|
Equity |
41.677.000 |
40.700.000 |
|
|
Mutation equity |
2,40 |
|
|
|
Mutation short term
liabilities |
22,70 |
|
|
|
Return on total assets
(ROA) |
2,89 |
2,34 |
|
|
Return on equity (ROE) |
3,18 |
2,53 |
|
|
Gross profit margin |
0,10 |
-2,41 |
|
|
Net profit margin |
2,51 |
1,34 |
|
|
Average collection ratio |
10,50 |
19,21 |
|
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Average payment ratio |
8,74 |
9,95 |
|
|
Equity turnover ratio |
0,93 |
1,42 |
|
|
Total assets turnover
ratio |
0,85 |
1,32 |
|
|
Fixed assets turnover
ratio |
204,57 |
199,18 |
|
|
Inventory conversion ratio |
20,64 |
13,36 |
|
|
Turnover |
38.868.000 |
57.961.000 |
|
|
Gross margin |
16.750.000 |
21.586.000 |
|
|
Operating result |
38.000 |
-1.399.000 |
|
|
Net result after taxes |
977.000 |
776.000 |
|
|
Cashflow |
1.072.000 |
866.000 |
|
|
EBIT |
38.000 |
-1.399.000 |
|
|
EBITDA |
133.000 |
-1.309.000 |
|
Summary The 2012 financial result
structure is a postive working captial of 41.910.000 euro, which is in
agreement with 92 % of the total assets of the company.
The working capital has increased with 2.85
% compared to previous year. The ratio with respect to the total assets of the
company remains unchanged.
The improvement between 2011 and 2012 has mainly
been caused by a current liabilities reduction.
The current ratio of the company in 2012 was
12.32. If the current ratio exeeds 3.0, the company may not be using its
current assets or its short-term financing facilities efficiently .
The quick ratio in 2012 of the company was
11.81. A company with a Quick Ratio of more than 1 can currently pay back its
current liabilities.
The 2011 financial result structure is a
positive working captial of 40.750.000 euro, which is in agreement with 92 % of
the total assets of the company.
The current ratio of the company in 2011 was
14.51. If the current ratio exeeds 3.0, the company may not be using its
current assets or its short-term financing facilities efficiently .
The quick ratio in 2011 of the company was 13.07.
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 Dekker
Olifanta B.V.
Veerpolder 7
2361KX Warmond
Netherlands
Registration number: 280553710000
Balance
|
Year |
2012 |
2011 |
|
|
End date |
2012-12-31 |
2011-12-31 |
|
|
Tangible fixed assets |
190.000 |
291.000 |
|
|
Fixed assets |
190.000 |
291.000 |
|
|
Total stock |
1.883.000 |
4.337.000 |
|
|
Accounts receivable |
3.276.000 |
4.779.000 |
|
|
Other receivables |
1.169.000 |
1.046.000 |
|
|
Total receivables |
4.445.000 |
5.825.000 |
|
|
Liquid funds |
39.284.000 |
33.605.000 |
|
|
Current assets |
45.612.000 |
43.767.000 |
|
|
Total assets |
45.802.000 |
44.058.000 |
|
|
Total equity |
41.677.000 |
40.700.000 |
|
|
Provisions |
423.000 |
341.000 |
|
|
Accounts payable |
573.000 |
|
|
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Other short term
liabilities |
3.129.000 |
|
|
|
Short term liabilities |
3.702.000 |
3.017.000 |
|
|
Total short and long term liabilities |
4.125.000 |
3.358.000 |
|
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Total liabilities |
45.802.000 |
44.058.000 |
|
Summary The
total assets of the company increased with 3.96 % between 2011 and 2012.
Despite the assets
growth, the non current assets decreased with -34.71 %.
The asset growth has mainly been financed by
a debt increase of 22.84 %. The Net Worth, however, grew with 2.4 %.
In 2012 the assets of the company were 0.41
% composed of fixed assets and 99.59 % by current assets. The assets are being
financed by an equity of 90.99 %, and total debt of 9.01 %.
In 2011 the assets of the company were 0.66
% composed of fixed assets and 99.34 % by current assets. The assets are being
financed by an equity of 92.38 %, and total debt of 7.62 %.
Profit
and loss
Year 2012 2011
Revenues 38.868.000
57.961.000
Net turnover
38.868.000 57.961.000
Gross margin 16.750.000
21.586.000
Wages and salaries 5.879.000
6.815.000
Amorization and depreciation 95.000
90.000
Sales 22.118.000
36.375.000
other operating costs 10.738.000
16.080.000
Operating expenses 38.830.000
59.360.000
Operating result 38.000 -1.399.000
Financial income 1.286.000
2.429.000
Financial result 1.286.000
2.429.000
Result on ordinary operations
before taxes 1.324.000
1.030.000
Taxation on the result of
ordinary activities 347.000
254.000
Result of ordinary activities
after taxes 977.000
776.000
Net result 977.000
776.000
Summary The
turnover of the company decreased by -32.94 % between 2011 and 2012.
The gross profit
of the company decreased by -22.4 % between 2011 and 2012.
The operating result of the company grew
with 102.72 % 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 23.5 % of the analysed period, being
equal to 2011 % in the year 2012.
Despite the growth the assets turnover
decreased, whose index evolved with -35.61 % to a level of 0.85.
The Net Result of the company decreased by
25.9 % 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 25.69
% of the analysed period, being 3.18 % 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 2.53 % in the year 2011.
Analysis
Branch (SBI) Groothandel
en Wholesale on a fee or contract basis (niet in auto’s en motorfietsen) (46)
Region Rijnland
In the Netherlands 109662 of the companies
are registered with the SBI code 46
In the region Rijnland 4319 of the companies
are registered with the SBI code 46
In the Netherlands 2387 of the bankrupcties
are published within this sector
In the region Rijnland 97 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 Rijnland is normal
Publications
Filings 30-01-2014:
De jaarrekening over 2011 is gepubliceerd.
30-01-2014: De
jaarrekening over 2012 is gepubliceerd.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.