MIRA INFORM REPORT

 

 

Report Date :

20.08.2014 

 

IDENTIFICATION DETAILS

 

Name :

PEPE JEANS NEDERLAND B.V.

 

 

Registered Office :

Keizersgracht 321 1016EE Amsterdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.03.2000

 

 

Com. Reg. No.:

34131868

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of outerwear

 

 

No. of Employees

Not Available 

 

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 :

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract

 

Source : CIA

 

 

 

Company name and address

 

Company name           PEPE JEANS NEDERLAND B.V.

Operative address       Keizersgracht 321

1016EE Amsterdam

Netherlands

 

Legal form                   Private Company

Registration number    KvK-nummer: 34131868

VAT-number                808922464

 

 

Year

2014

 

Mutation

2013

 

Mutation

2012

Fixed assets

400

 

 

400

 

 

400

Total receivables

 

Total equity

11.893

 

-2,21

12.162

 

-13,89

14.123

Short term liabilities

534

 

-45,90

987

 

 

 

 

Net result

 

*

100,00

-1.961

 

-15,90

-1.692

 

Working capital

11.493

 

-2,29

11.762

 

-14,29

13.723

Quick ratio

22,52

 

74,30

12,92

 

 

 

 

 

 

 

Contact information

 

Company name           Pepe Jeans Nederland B.V.

Trade names               Pepe Jeans Nederland B.V.

Operative address       Keizersgracht 321

1016EE Amsterdam

Netherlands

 

Correspondence address         Keizersgracht 321

1016EE Amsterdam

Netherlands

Telephone number                  0205893888

Fax number                             0205893880

Email address                          alex.roefs@pepejeans.com

 

 

 

Registration

 

Registration number    KvK-nummer: 34131868

Branch number            000019283903

VAT-number                808922464

Status                          Active

 

First registration company register      2000-04-06

Memorandum                                      2000-03-28

Establishment date                              2000-03-28

Legal form                                           Private Company

 

Last proposed admendment                2000-11-17

 

 

 

Activities

 

SBI                   Wholesale of outerwear (46421)

Exporter           No

Importer           No

Goal                 Nationale en internationale groothandel in kleding. Tevens beheermaatschappij

 

 

Relations

 

Shareholders   Pepe Jeans Europe B.V.

Keizersgracht 321

1016EE Amsterdam

Netherlands

Registration number: 332722190000

Percentage: 100%

Pepe International B.V.

Registration number: 333042210000

Companies on same address

Pepe Jeans Europe B.V.

Registration number: 332722190000

Stichting Architektenonderzoek Wonen en Woonomgeving (Stawon)

Registration number: 411992210000

Stichting Jonge Architecten Prijs

Registration number: 412139170000

Stichting Integraal Werkende Architecten

Registration number: 342643690000

Hackett Netherlands B.V.

Registration number: 579546230000

 

 

Management

 

Active management

 

N.S. Soneji (Nishith Shashikant)

Netherlands

Competence: Jointly authorized

Function: Manager

Starting date: 2001-06-28

Date of birth: 1963-08-01, Kampala, UG

Involved with the following companies

 

• Pepe Jeans Europe B.V.

Keizersgracht 321

1016EE Amsterdam

Netherlands

Registration number: 332722190000

Function: Manager

 

N.P. Midgley (Nigel Peter)

Netherlands

Competence: Jointly authorized

Function: Manager

Starting date: 2005-08-17

Date of birth: 1965-09-23, Birmingham, GB

Involved with the following companies

 

• Pepe Jeans Europe B.V.

Keizersgracht 321

1016EE Amsterdam

Netherlands

Registration number: 332722190000

Function: Manager

 

 

Employees

 

Year

2014

2010

2009

Total

0

1

1

 

 

 

 

 

 

 

Payments

 

Description Payments made under regular condition

 

 

Key figures

 

Year

2014

2013

2012

2011

2010

Quick ratio

22,52

12,92

 

 

 

Current ratio

22,52

12,92

 

 

 

 

Working capital/ balance total

0,92

0,89

0,97

0,97

0,98

Equity / balance total

0,96

0,92

1,00

1,00

1,00

Equity / Fixed assets

29,73

30,41

35,31

39,54

43,16

Equity / liabilities

22,27

12,32

 

 

 

Balance total / liabilities

23,27

13,32

 

 

 

 

Working capital

11.493

11.762

13.723

15.415

16.862

Equity

11.893

12.162

14.123

15.815

17.262

Mutation equity

-2,21

-13,89

-10,70

-8,38

-9,15

Mutation short term liabilities

-45,90

 

 

 

 

 

Return on total assets (ROA)

 

-14,91

-11,98

-9,15

-8,10

Return on equity (ROE)

 

-16,12

-11,98

-9,15

-8,10

Operating result

 

-1.896

-1.692

-1.447

-1.398

Net result after taxes

 

-1.961

-1.692

-1.447

-1.398

 

EBIT

 

-1.896

-1.692

-1.447

-1.398

 

 

Summary

 

The 2014 financial result structure is a postive working captial of 11.493 euro, which is in

agreement with 92 % of the total assets of the company.

The working capital has diminished with -2.29 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

The deterioration between 2013 and 2014 has mainly been caused by a reduction of the

current assets.

The current ratio of the company in 2014 was 22.52. 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 2014 of the company was 22.52. A company with a Quick Ratio of more

than 1 can currently pay back its current liabilities.

The 2013 financial result structure is a postive working captial of 11.762 euro, which is in

 

agreement with 89 % of the total assets of the company.

The working capital has diminished with -14.29 % compared to previous year. The ratio, with

respect to the total assets of the company has however, declined.

The deterioration between 2012 and 2013 has mainly been caused by a reduction of the

current assets.

The current ratio of the company in 2013 was 12.92. 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 2013 of the company was 12.92. A company with a Quick Ratio of more

than 1 can currently pay back its current liabilities.

 

 

 

 

 

Financial statement

 

Remark annual account          The company is obliged to file its financial statements.

Type of annual account           Corporate

Annual account                       Pepe Jeans Nederland B.V.

Keizersgracht 321

1016EE Amsterdam

Netherlands

Registration number: 341318680000

 

 

 

Balance

 

Year

2014

2013

2012

2011

2010

End date

2014-03-31

2013-03-31

2012-03-31

2011-03-31

2010-03-31

Financial fixed assets

400

400

400

400

400

Fixed assets

400

400

400

400

400

 

 

Year

2014

2013

2012

2011

2010

End date

2014-03-31

2013-03-31

2012-03-31

2011-03-31

2010-03-31

Total receivables

 

195

486

Liquid funds

12.027

12.749

13.723

15.220

16.376

Current assets

12.027

12.749

13.723

15.415

16.862

Total assets

12.427

13.149

14.123

15.815

17.262

 

Issued capital

 

25.000

25.000

25.000

25.000

Other reserves

 

-12.838

-10.877

-9.185

-7.738

Total reserves

 

-12.838

-10.877

-9.185

-7.738

Total equity

11.893

12.162

14.123

15.815

17.262

 

Short term liabilities

534

987

 

Total short and long term liabilities

534

987

 

Total liabilities

12.427

13.149

14.123

15.815

17.262

 

 

Summary

 

The total assets of the company decreased with -5.49 % between 2013 and 2014.

The total assets are entirely composed of current assets.

Assets reduction is explained by a Net Worth decrease of -2.21 %, and an indebtedness

reduction of -45.9 %.

In 2014 the assets of the company were 3.22 % composed of fixed assets and 96.78 % by

current assets. The assets are being financed by an equity of 95.7 %, and total debt of 4.3 %.

The total assets of the company decreased with -6.9 % between 2012 and 2013.

The total assets are entirely composed of current assets.

In 2013 the assets of the company were 3.04 % composed of fixed assets and 96.96 % by

current assets. The assets are being financed by an equity of 92.49 %, and total debt of 7.51

%.

 

 

 

 

 

Profit and loss

 

Year

 

2013

2012

2011

2010

Operating expenses

 

1.896

1.692

1.447

1.398

Operating result

 

-1.896

-1.692

-1.447

-1.398

 

Financial expenses

 

65

 

 

 

Financial result

 

-65

 

 

 

Result on ordinary operations before taxes

 

-1.961

-1.692

-1.447

-1.398

 

 

Summary

 

The operating result of the company declined with -12.06 % between 2012 and 2013. This

evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -24.46

% of the analysed period, being equal to 2012 % in the year 2013.

The Net Result of the company increased by -15.9 % between 2012 and 2013.

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

-34.56 % of the analysed period, being -16.12 % in the year 2013.

The company's financial profitability has been positively affected by its financial structure.

 

 

 

 

Analysis

 

Branch (SBI)    Wholesale trade (no motor vehicles and motorcycles) (46)

Region             Groot Amsterdam

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Groot Amsterdam 10512 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 Groot Amsterdam 209 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              12-08-2014: De jaarrekening over 2014 (gebroken boekjaar) is gepubliceerd.

22-05-2013: De jaarrekening over 2013 (gebroken boekjaar) is gepubliceerd.

23-05-2012: De jaarrekening over 2012 (gebroken boekjaar) is gepubliceerd.

22-08-2011: De jaarrekening over 2011 (gebroken boekjaar) is gepubliceerd.

18-11-2010: De jaarrekening over 2010 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2009 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2008 (gebroken boekjaar) is gepubliceerd

 

11-12-2009: De jaarrekening over 2007 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2006 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2005 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2004 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2003 (gebroken boekjaar) is gepubliceerd.

11-12-2009: De jaarrekening over 2002 (gebroken boekjaar) is gepubliceerd

 

 

Company structure

 

Pepe Jeans SL

Spain

• Pepe Jeans Europe B.V.

Keizersgracht 321

1016EE Amsterdam

Netherlands

Registration number: 332722190000

 

• Pepe Jeans Nederland B.V.

Keizersgracht 321

1016EE Amsterdam

Netherlands

Registration number: 341318680000

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.73

UK Pound

1

Rs.101.48

Euro

1

Rs.81.04

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.