MIRA
INFORM REPORT
|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DACAPO STAINLESS B.V. |
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|
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Registered Office : |
Vossenbeemd 111, 5705CL Helmond |
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Country : |
Netherlands |
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|
Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
26.06.2008 |
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Com. Reg. No.: |
27320333 |
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Legal Form : |
Private Company |
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Line of Business : |
· Wholesaler of stainless steel · Manufacturer of basic iron and steel and of ferro-alloys ·
Wholesaler of ferrous metals and ferrous
semi-finished products |
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|
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No. of Employees : |
26 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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
Summary
Company name Dacapo Stainless B.V.
Operative address Vossenbeemd
111
5705CL Helmond
Netherlands
Status Active
Legal form Besloten
Vennootschap (Private Company )
Registration number KvK-nummer:
27320333
VAT-number 819537512
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
116.359 |
-15,92 |
138.390 |
-29,27 |
195.662 |
|
Total
receivables |
1.931.879 |
-21,98 |
2.476.096 |
28,68 |
1.924.236 |
|
Total equity |
-867.711 |
-229,42 |
-263.402 |
2,70 |
-270.725 |
|
Short term
liabilities |
6.378.698 |
-1,18 |
6.454.885 |
30,41 |
4.949.649 |
|
Net result |
-604.309 |
-8.352,21 |
7.323 |
|
|
|
Working capital |
515.930 |
-53,02 |
1.098.208 |
6,25 |
1.033.613 |
|
Quick ratio |
0,32 |
-20,00 |
0,40 |
|
0,40 |
Contact information
Company name Dacapo
Stainless B.V.
Trade names Dacapo
Stainless B.V.
Operative address Vossenbeemd
111
5705CL Helmond
Netherlands
Correspondence address Postbus 6065
5700ET Helmond
Netherlands
Telephone number 0492577777
Fax number 0492577799
Email address contact-nl@dacapo.com
Website www.dacapo.com
Registration
Registration number KvK-nummer:
27320333
Branch number 000016782232
VAT-number 819537512
Status Active
First registration
company register 2008-06-26
Memorandum 2008-06-20
Establishment date 2008-06-04
Legal form Besloten
Vennootschap (Private Company)
Last proposed
admendment 2008-10-31
Activities
Activities
SBI Manufacture
of basic iron and steel and ferro-alloys
Wholesale
of ferrous metals and ferrous semi-finished products
Wholesaler of stainless steel
Exporter Yes
Importer Yes
Branche organisations Vereniging
FME-CWM
Goal De
inkoop, verkoop, export en groothandel in-, alsmede de bewerking van
roestvast
stalen (half-)fabrikaten.
(The purchase, sale, export
and wholesale, as well as the processing of
stainless steel (semi-) finished products.)
Relations
Shareholders Name:
Dacapo Stainless A/S
Office
address: Neptunvej 1,
Silksborg DK-8600, Denmark
Registered in: Ehrvervs-og
Selskabsstyrelsen Kopenhagen, Denmark with registration
number 2668824
Only
shareholder since: 30-12-2008
Bank details
Accounts ABN Amro Bank NV
Account number: 462258351
Management
Active Management
H.S. Sylvest (Henrik Saxtrup)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2011-02-09
Date of birth: 1965-05-25, Rodovre, DK
K.S. Sylvest (Kristian Saxtrup)
Netherlands
Function: Commissaris
Starting date: 2011-02-09
Date of birth: 1971-10-01, Kopenhagen, DK
T.J.J.M. van Welij (Theodorus Josephus Johannes Ma)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2008-10-01
Date of birth: 1963-05-14, Bakel en Milheeze, NL
S.J.W. van den Eijnde (Stephan Jozef Wilhelm)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-09-01
Date of birth: 1975-01-29, Helmond, NL
H.P. Verbakel (Hein Pierre)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-09-01
Date of birth: 1972-06-11,
Helmond, NL
Employees
Total according to the Chamber of Commerce 26
Year 2014
2012 2011 2010 2009
Total 26 26
20 29 26
Payments
Description
Payments made under regular condition
Key figures
Year 2012 2011 2010
2009
Quick ratio 0,32
0,40
0,40
0,39
Current ratio 1,08
1,17
1,21
1,11
Working capital/ balance total 0,07 0,14 0,17 0,10
Equity / balance total -0,12
-0,03 -0,04 0,04
Equity / Fixed assets -7,46
-1,90 -1,38 1,00
Equity / liabilities -0,11 -0,03 -0,04 0,05
Balance total / liabilities 0,89 0,97
0,96 1,05
Working capital 515.930
1.098.208 1.033.613 500.356
Equity -867.711
-263.402 -270.725 228.844
Mutation equity -229,42
2,70 -218,30
Mutation short term liabilities -1,18 30,41
10,44
Return on total assets (ROA) -8,62 0,10
Return on equity (ROE) 69,64
-2,78
Gross profit margin -2,11
Net profit margin -3,50
Average collection ratio 2,71
Average payment ratio 8,94
Equity turnover ratio -19,90
Total assets turnover ratio 2,46
Fixed assets turnover ratio 148,42
Inventory conversion ratio 3,54
Turnover 17.269.479
Gross margin 2.270.583
3.546.102
Operating result -364.859
173.650
Net result after taxes -604.309 7.323
Cashflow -515.981
73.021
EBIT -364.859
173.650
EBITDA -276.531 239.348
Summary
The 2012 financial result structure is a positive working capital
of 515.930 euro, which is in
agreement with 7 % of the total assets of the company.
The working capital has diminished with -53.02 % compared
to previous year. The ratio, with
respect to the total assets of the company has however,
declined.
The deterioration between 2011 and 2012 has mainly been
caused by an increase of the
current liabilities.
The current ratio of the company in 2012 was 1.08. 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 0.32. A company
with a Quick Ratio of less than
1 cannot currently pay back its current liabilities.
The 2011 financial result structure is a positive working capital
of 1.098.208 euro, which is in
agreement with 14 % of the total assets of the company.
The working capital has increase with 6.25 % compared to
previous year. The ratio with
respect to the total assets of the company has however,
declined.
The improvement between 2010 and 2011 has mainly been
caused by a current liabilities
reduction.
The current ratio of the company in 2011 was 1.17. When
the current ratio is below 1.5, the
company may have problems meeting its short-term
obligations.
The quick ratio in 2011 of the company was 0.4. A company
with a Quick Ratio of less than 1
cannot currently pay back its current liabilities.
Financial statement
Type of annual account Corporate
Annual account Dacapo
Stainless B.V.
Vossenbeemd 111
5705CL Helmond
Netherlands
Registration number: 273203330000
Balance
Financial statement
Type of annual account Corporate
Annual account Dacapo
Stainless B.V.
Vossenbeemd
111
5705CL
Helmond
Netherlands
Registration number: 273203330000
BALANCE SHEET
|
Year |
2012 |
2011 |
2010 |
2009 |
|
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
|
Tangible fixed assets |
116.359 |
138.390 |
|
228.488 |
|
|
Financial fixed assets |
|
195.662 |
|
||
|
Fixed assets |
116.359 |
138.390 |
195.662 |
228.488 |
|
|
Accounts receivable |
1.869.924 |
|
1.569.150 |
962.710 |
|
|
Other receivables |
61.955 |
|
355.086 |
704.963 |
|
|
Total receivables |
1.931.879 |
2.476.096 |
1.924.236 |
1.667.673 |
|
|
Liquid funds |
83.865 |
118.506 |
38.977 |
91.700 |
|
|
Current assets |
6.894.628 |
7.553.093 |
5.983.262 |
4.981.948 |
|
|
Total assets |
7.010.987 |
7.691.483 |
6.178.924 |
5.210.436 |
|
|
Total equity |
-867.711 |
-263.402 |
-270.725 |
228.844 |
|
|
Long term interest yielding
debt |
1.500.000 |
1.500.000 |
1.500.000 |
500.000 |
|
|
Long term liabilities |
1.500.000 |
1.500.000 |
1.500.000 |
500.000 |
|
|
Accounts payable |
898.125 |
|
509.377 |
369.907 |
|
|
Other short term liabilities |
5.480.573 |
|
4.440.272 |
4.111.685 |
|
|
Short term liabilities |
6.378.698 |
6.454.885 |
4.949.649 |
4.481.592 |
|
|
Total short and long term liabilities |
7.878.698 |
7.954.885 |
6.449.649 |
4.981.592 |
|
|
Total liabilities |
7.010.987 |
7.691.483 |
6.178.924 |
5.210.436 |
|
Summary
The total assets of the company decreased with -8.85 %
between 2011 and 2012.
This downturn is mainly retrievable in the fixed asset
decrease of -15.92 %.
Assets reduction is explained by a Net Worth decrease of
-229.42 % while the indebtedness
remains unchanged.
In 2012 the assets of the company were 1.66 % composed of
fixed assets and 98.34 % by
current assets. The assets are being financed by an equity
of -12.38 %, and total debt of
112.38 %.
The total assets of the company increased with 24.48 %
between 2010 and 2011.
Despite the assets growth, the non current assets
decreased with -29.27 %.
The asset growth has mainly been financed by a debt
increase of 2.7 %. The Net Worth,
however, grew with 23.34 %.
In 2011 the assets of the company were 1.8 % composed of
fixed assets and 98.2 % by
current assets. The assets are being financed by an equity
of -3.42 %, and total debt of
103.42 %.
PROFIT & LOSS
|
Year |
2012 |
2011 |
||
|
Revenues |
17.269.479 |
|
|
|
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Net turnover |
17.269.479 |
|
||
|
Gross margin |
2.270.583 |
3.546.102 |
|
|
|
Wages and salaries |
1.088.421 |
1.442.929 |
|
|
|
Amorization and depreciation |
88.328 |
65.698 |
|
|
|
Sales |
14.998.896 |
|
|
|
|
other operating costs |
1.458.693 |
1.863.825 |
|
|
|
Operating expenses |
17.634.338 |
3.372.452 |
|
|
|
Operating result |
-364.859 |
173.650 |
|
|
|
Financial income |
36.981 |
|
|
|
|
Financial expenses |
276.431 |
|
|
|
|
Financial result |
-239.450 |
-166.327 |
|
|
|
Result on ordinary operations before taxes |
-604.309 |
7.323 |
|
|
|
Result of ordinary activities after taxes |
-604.309 |
7.323 |
|
|
|
Nett Result |
-604.309 |
7.323 |
|
|
Summary
The gross profit of the company decreased by -35.97 %
between 2011 and 2012.
The operating result of the company declined with -310.11
% between 2011 and 2012. 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 -8720 %
of the analysed period, being equal to 2011 % in the year
2012.
The Net Result of the company increased by -8352.21 %
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
2605.04 % of the analysed period, being 69.64 % 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 -2.78 % in the year 2011
Analysis
Branch (SBI) Groothandel
en Wholesale on a fee or contract basis (niet in auto’s en motorfietsen) (46)
Region Zuid-Oost-Brabant
In the Netherlands 107516 of
the companies are registered with the SBI code 46
In the region
Zuid-Oost-Brabant 4929 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-Oost-Brabant 109 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-Oost-Brabant is normal
Publications
Filings 28-01-2014:
De jaarrekening over 2012 is gepubliceerd.
21-03-2012: De jaarrekening
over 2011 is gepubliceerd.
23-06-2011: De jaarrekening
over 2009 is gepubliceerd.
23-06-2011: De jaarrekening
over 2010 is gepubliceerd.
Functions 07-12-2012:
Per 01-12-2012 is gevolmachtigde Gerardus Hendrikus Alfonsus ten Barge uit
functie getreden.
08-09-2011: Per 01-09-2011 is
gevolmachtigde Hein Pierre Verbakel in functie getreden.
08-09-2011: Per 01-09-2011 is
gevolmachtigde Stephan Jozef Wilhelm van den Eijnde in
functie getreden.
29-06-2011: Per 27-06-2011 is
gevolmachtigde Aloysius Maria Dallau uit functie getreden.
29-06-2011: Per 27-06-2011 is
gevolmachtigde Sven Luuk Dallau uit functie getreden.
09-02-2011: Per 09-02-2011 is
bestuurder Aloysius Maria Dallau uit functie getreden.
09-02-2011: Per 09-02-2011 is
gevolmachtigde Aloysius Maria Dallau in functie getreden.
09-02-2011: Per 09-02-2011 is
commissaris Kristian Saxtrup Sylvest in functie getreden.
09-02-2011: Per 09-02-2011 is
bestuurder Henrik Saxtrup Sylvest in functie getreden.
09-02-2011: Per 09-02-2011 is
commissaris Henrik Saxtrup Sylvest uit functie getreden.
01-11-2010: Per 01-11-2010 is
gevolmachtigde Gerardus Hendrikus Alfonsus ten Barge in
functie
getreden.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
UK Pound |
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.