MIRA
INFORM REPORT
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Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
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Name : |
THE MEDICAL EXPORT GROUP B.V. |
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Registered Office : |
Papland 16, 4206CL Gorinchem |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.07.1980 |
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Com. Reg. No.: |
23044580 |
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Legal Form : |
Private Company |
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Line of Business : |
Wholesale of medical and dental instruments |
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No. of Employees : |
54 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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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 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.
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Source
: CIA |
Summary
Company name THE
MEDICAL EXPORT GROUP B.V.
Operative address Papland
16
4206CL Gorinchem
Netherlands
Legal form Private
Company
Registration number KvK-nummer:
23044580
VAT-number 005351261
Year 2012 Mutation 2011 Mutation
2010
Fixed assets 328.045
-4,52 343.570 8,69
316.104
Total receivables 13.547.508
181,25 4.816.932 -11,71
5.456.070
Total equity 5.504.519
46,85 3.748.449 9,93
3.409.737
Short term liabilities
14.821.514 210,01 4.780.970 -14,87 5.616.398
Net result 2.056.071
119,03 938.712 -10,51
1.048.907
Working capital 5.361.223
52,33 3.519.369 10,30
3.190.812
Quick ratio 0,91
-9,90 1,01 3,06 0,98
Contact information
Company name The
Medical Export Group B.V.
Trade names The
Medical Export Group B.V.
Operative address Papland
16
4206CL Gorinchem
Netherlands
Correspondence address Postbus
598
4200AN Gorinchem
Netherlands
Telephone number 0183356100
Fax number 0183356122
Email address
info@meg.nl
Website www.meg.nl
Registration
Registration number KvK-nummer:
23044580
Branch number 000020069634
VAT-number 005351261
Status Active
First registration company register 1980-09-26
Memorandum 1980-09-05
Establishment date 1980-07-01
Legal form Private
Company
Last proposed admendment 2004-10-28
Activities
SBI Wholesale
of medical and dental instruments (46462)
Exporter Yes
Importer Yes
Goal Acquiring
orders abroad in favour of companies in the industry of equipment and
consumables in hospitals, as well as trade in these and similar or related
goods
Bank details
Accounts Fortis
Bank (Nederland) NV
Account number: 64.28.76.908
Management
Active management C.
te Kloese (Christian)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 2013-06-01
Date of birth: 1978-08-04, Naarden, NL
Movaria B.V.
Nassaulaan 55
3743CB BAARN
Netherlands
Registration number: 310359390000
Competence: Fully authorized
Function: General Director
Starting date: 1992-07-01
J.W. Maasland (Jan Willem)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1998-06-30
Date of birth: 1955-03-09, Strijen, NL
M.F.G. Vos (Monica Francisca Geertruida)
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2007-05-01
Date of birth: 1969-10-28, Ubbergen, NL
G. Ranselaar (Guido)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-06-01
Date of birth: 1974-02-12, Nijkerk, NL
Employees
Year 2013 2012 2011 2010 2009
Total 54 25 25
35 35
Key figures
Year 2012 2011 2010 2009
2008
Quick ratio 0,91
1,01 0,98 1,59 1,17
Current ratio 1,36
1,74 1,57 2,65 1,76
Working capital/ balance total 0,26
0,41 0,35 0,59
0,41
Equity / balance total 0,27
0,43 0,37 0,62 0,44
Equity / Fixed assets 16,78
10,91 10,79 13,26 10,40
Equity / liabilities 0,37
0,77 0,60 1,64 0,79
Balance total / liabilities 1,37
1,77 1,60 2,64 1,79
Working capital 5.361.223
3.519.369 3.190.812 3.018.064
2.844.157
Equity 5.504.519
3.748.449 3.409.737 3.160.830
3.042.628
Mutation equity 46,85
9,93 7,87 3,88 3,88
Mutation short term liabilities 210,01
-14,87 207,23 -51,25 -28,35
Return on total assets (ROA) 13,29
14,31 15,24 29,16 19,30
Return on equity (ROE) 49,51
32,99 40,78 46,91 43,69
Gross margin 7.167.788
4.981.826 4.703.708 4.354.561
4.548.709
Operating result 2.975.517
1.362.234 1.454.335 1.557.366
1.534.082
Net result after taxes 2.056.071
938.712 1.048.907 1.118.202
1.013.615
Cashflow 2.150.891
1.051.810 1.127.398 1.193.094
1.102.251
EBIT 2.975.517
1.362.234 1.454.335 1.557.366
1.534.082
EBITDA 3.070.337
1.475.332 1.532.826 1.632.258
1.622.718
Summary
The 2012 financial result structure is a postive working captial of
5.361.223 euro, which is in agreement with 26 % of the total assets of the
company.
The working capital has increase with 52.33 % compared to previous year.
The ratio with respect to the total assets of the company has however,
declined.
The improvement between 2011 and 2012 has mainly been caused by a
current liabilities reduction.
The current ratio of the company in 2012 was 1.36. When the current
ratio is below 1.5, the company may have problems meeting its short-term
obligations.
The quick ratio in 2012 of the company was 0.91. 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
3.519.369 euro, which is in agreement with 41 % of the total assets of the
company.
The working capital has increased with 10.3 % 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 an
increase of the current assets.
The current ratio of the company in 2011 was 1.74. 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 Corporate
Annual account The
Medical Export Group B.V.
Papland 16
4206CL Gorinchem
Netherlands
Registration number: 230445800000
Balance
Year 2012 2011 2010 2009
2008
End date 2012-12-31 2011-12-31 2010-12-31 2009-12-31
2008-12-31
Tangible fixed assets 328.045 343.570 316.104 238.409
292.424
Fixed assets 328.045
343.570 316.104 238.409 292.424
Inventories 6.629.639
3.451.139 3.316.914 1.939.062
2.224.275
Total receivables 13.547.508
4.816.932 5.456.070 2.723.647
4.327.799
Liquid funds
5.590 32.268 34.226 183.414 41.763
Current assets 20.182.737
8.300.339 8.807.210 4.846.123
6.593.837
Total assets 20.510.782
8.643.909 9.123.314 5.084.532
6.886.261
Total equity 5.504.519
3.748.449 3.409.737 3.160.830
3.042.628
Provisions 184.749
114.490 97.179 95.643 93.953
Short term liabilities 14.821.514
4.780.970 5.616.398 1.828.059
3.749.680
Year 2012 2011 2010 2009
2008
End date 2012-12-31 2011-12-31 2010-12-31 2009-12-31
2008-12-31
Total short and long term
liabilities 15.006.263
4.895.460 5.713.577 1.923.702
3.843.633
Total liabilities 20.510.782
8.643.909 9.123.314 5.084.532
6.886.261
Summary
The total assets of the company increased with 137.29 % between 2011 and
2012. Despite the assets growth, the non current assets decreased with -4.52 %.
The asset growth has mainly been financed by a debt increase of 46.85 %.
The Net Worth, however, grew with 206.53 %.
In 2012 the assets of the company were 1.6 % composed of fixed assets
and 98.4 % by current assets. The assets are being financed by an equity of
26.84 %, and total debt of 73.16 %.
The total assets of the company decreased with -5.25 % between 2010 and
2011.
Despite the total assets decrease, non current assets grew with 8.69 %.
The asset reduction is in contrast with the equity growth of 9.93 %. Due
to this the total debt decreased with -14.32 %.
In 2011 the assets of the company were 3.97 % composed of fixed assets
and 96.03 % by current assets. The assets are being financed by an equity of
43.37 %, and total debt of 56.63 %.
Profit and loss
Year 2012 2011 2010 2009
2008
Gross margin 7.167.788
4.981.826 4.703.708 4.354.561
4.548.709
Wages and salaries 2.584.094
2.157.540 1.872.397 1.633.386
1.706.000
Amorization and depreciation 94.820
113.098 78.491 74.892 88.636
Year 2012 2011
2010 2009 2008
other operating costs 1.513.357
1.348.954 1.298.485 1.088.917
1.219.991
Operating expenses 4.192.271
3.619.592 3.249.373
2.797.195 3.014.627
Operating result 2.975.517
1.362.234 1.454.335 1.557.366
1.534.082
Financial income 11.590
16.358
3.038 15.929
Financial expenses 261.659
80.033
77.579 220.741
Financial result -250.069
-125.663 -63.675 -74.541 -204.812
Result on ordinary operations
before taxes
2.725.448 1.236.571 1.390.660 1.482.825 1.329.270
Taxation on the result of
ordinary activities 669.377
297.859 341.753 366.613 315.655
Result of ordinary activities
after taxes
2.056.071 938.712 1.048.907 1.116.212 1.013.615
Extraordinary income 1.990
Extraordinary result after taxation 1.990
Net result 2.056.071
938.712 1.048.907 1.118.202
1.013.615
Summary
The gross profit of the company grew with 43.88 % between 2011 and 2012.
The operating result of the company grew with 118.43 % between 2011 and
2012. This evolution implies an increase of the company's economic
profitability.
The result of these changes is a reduction of the company's Economic
Profitability of -7.13 % of the analysed period, being equal to 2011 % in the
year 2012.
The Net Result of the company decreased by 119.03 % between 2011 and
2012.
The company's Financial Profitability has been negatively affected by
the financial activities in comparison to the EBITs behaviour. The result of
these variations is a profitability reduction of 50.08 % of the analysed
period, being 49.51 % in the year 2012.
The company's financial structure has slowed down its financial
profitability.
The gross profit of the company grew with 5.91 % between 2010 and 2011.
The operating result of the company declined with -6.33 % between 2010
and 2011. 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 -6.1 % of the analysed period, being equal to 2010 % in the
year 2011.
The Net Result of the company increased by -10.51 % between 2010 and
2011.
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 -19.1 % of the analysed period,
being 32.99 % in the year 2011.
The company's financial profitability has been positively affected by
its financial structure.
Analysis
Branch (SBI) Groothandel
en Wholesale on a fee or contract basis (niet in auto’s en motorfietsen) (46)
Region Zuid-Holland
Oost
In the Netherlands 107516 of the companies
are registered with the SBI code 46
In the region Zuid-Holland Oost 4923 of the
companies are registered with the SBI code 46
In the Netherlands 2108 of the bankrupcties
are published within this sector
In the region Zuid-Holland Oost 71 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 Zuid-Holland Oost is normal
Publications
Filings 25-07-2013:
De jaarrekening over 2012 is gepubliceerd.
20-07-2012: De jaarrekening over 2011 is
gepubliceerd.
21-12-2011: De jaarrekening over 2010 is
gepubliceerd.
06-08-2010: De jaarrekening over 2009 is
gepubliceerd.
22-07-2009: De jaarrekening over 2008 is
gepubliceerd.
Functions 08-07-2013:
Per 01-06-2013 is gevolmachtigde Guido Ranselaar in functie getreden.
28-06-2013: Per 01-06-2013 is gevolmachtigde
Christian te Kloese in functie getreden.
01-02-2013: Per 30-01-2013 is gevolmachtigde
Arnout van der Maas uit functie getreden.
11-02-2010: Per 03-02-2010 is gevolmachtigde
Ronald Antonius Toten uit functie getreden.
11-02-2010: Per 01-02-2010 is gevolmachtigde
Arnout van der Maas in functie getreden.
11-02-2010: Per 27-10-2009 is gevolmachtigde
Robert Ferry Wassink uit functie getreden.
11-02-2010: Per 03-02-2010 is gevolmachtigde
Sandra Gerstel uit functie getreden.
11-02-2010: Per 03-02-2010 is
procuratiehouder Klaas-Jan Koning uit functie getreden.
11-02-2010: Per 03-02-2010 is
procuratiehouder Guido Ranselaar uit functie getreden.
Company structure
Relations 3
Stichting Administratiekantoor Movaria
Nassaulaan 55
3743CB BAARN
Netherlands
Registration number: 320971780000
• Movaria B.V.
Nassaulaan 55
3743CB BAARN
Netherlands
Registration number: 310359390000
• The Medical Export Group B.V.
Papland 16
4206CL Gorinchem
Netherlands
Registration number: 230445800000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.69 |
|
UK Pound |
1 |
Rs.102.97 |
|
Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
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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 |
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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.