MIRA
INFORM REPORT
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Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
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Name : |
J. KERSTEN B.V. |
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Registered Office : |
Galvanibaan 14, 3439MG Nieuwegein |
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Country : |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
08.09.1969 |
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Com. Reg. No.: |
30106287 |
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Legal Form : |
Private Company |
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Line of Business : |
· Wholesaler of sugar, chocolate and sugar confectionery Wholesaler of glassware, china and pottery Wholesaler of toys |
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No. of Employees |
05 (2014) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
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
Source : CIA
Summary
Company name J. Kersten B.V.
Operative address Galvanibaan
14
3439MG Nieuwegein
Status Active
Legal form Besloten
Vennootschap (Private company)
Registration number KvK-nummer:
30106287
VAT-number
800657470
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed
assets |
469.895 |
-22,33 |
605.004 |
39,31 |
434.278 |
|
Total
receivables |
2.569.059 |
110,43 |
1.220.854 |
-21,34 |
1.552.069 |
|
Total
equity |
4.909.257 |
-7,40 |
5.301.731 |
17,11 |
4.527.218 |
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Short term
liabilities |
1.371.992 |
12,88 |
1.215.470 |
-42,38 |
2.109.527 |
|
Net result |
-392.474 |
-150,67 |
774.513 |
-47,92 |
1.487.043 |
|
Working
capital |
4.439.362 |
-5,48 |
4.696.727 |
14,75 |
4.092.940 |
|
Quick ratio |
1,87 |
26,35 |
1,48 |
23,33 |
1,20 |
Contact information
Company name J.
Kersten B.V.
Trade names Hiddie
Design
Sweet Smell
J. Kersten B.V.
Dr. ir.
K. Glaezer Design
Operative address Galvanibaan
14
3439MG Nieuwegein
Correspondence
address Postbus
1010
3430BA Nieuwegein
Telephone number 0306001800
Fax number 0306001899
Email address info@kerstenbv.nl
Website www.kerstenbv.nl
Registration
Registration number KvK-nummer:
30106287
Branch number 000016541995
VAT-number 800657470
Status Active
First registration
company register 1992-03-12
Memorandum 1992-03-06
Establishment date 1969-09-08
Legal
form Besloten
Vennootschap (Private Company)
Activities
SBI Wholesale
of sugar, chocolate and sugar confectionery (4636)
Wholesale of glassware, china
and pottery (46441)
Wholesale of toys (46494)
Goal Ontwerpen,
fabriceren, assembleren, adviseren, begeleiden bij de produktie, im- en export,
groothandel van
kunstnijverheidsartikelen, artikelen voor binnenhuisverfraaiing,
geschenkartikelen en het
adviseren en begeleiden bij publiciteits- en promotiecampagnes
(Design, manufacture, assembly, advise, assist in the production, import and export,
wholesale crafts articles, articles for interior beautification, gifts and advising and assisting in publicity and promotion)
Relations
Shareholders H
& D Kersten Holding B.V.
Galvanibaan 14
3439MG NIEUWEGEIN
Registration number: 301291940000
Percentage: 100.00%
Companies on same address Groenekan Holding 18 B.V.
Registration number: 301291890000
Groenekan
Holding 7 B.V.
Registration number: 301291900000
H & D Kersten Holding B.V.
Registration number: 301291940000
J. Kersten van Rees
Beleggingsinstelling B.V.
Registration number: 300432250000
Kersten Vastgoed B.V.
Registration number: 301165310000
Bank details
Accounts
F. van Lanschot Bankiers NV
Account number: 226594009
ING Bank NV
Account number: 1884785
Management
Active management
D.A.H. Kersten (Diederik Aris Henrik)
3581NH
Competence: Jointly authorized
Function: Manager
Starting date: 1995-09-01
Date of birth: 1964-07-01,
J.N. Kersten (Jan-Hidde Nanning)
Competence: Jointly authorized
Function: Manager
Starting date: 1995-09-01
Date of birth: 1962-03-24,
J.C. Fischer (Johan Conrad)
8336KH
Function: Commissaris
Starting date: 1995-09-01
Date of birth: 1935-04-18,
Employees
Total according to the Chamber of Commerce 5
Year 2014
2012 2011 2010 2009
Total 5 35 33 33 5
Payments
Description
The
payments are regular
Key figures
Year 2013
2012 2011 2010 2009
Quick ratio 1,87 1,48 1,20 1,17
0,83
Current ratio 4,24
4,86 2,94 2,45
2,28
Working capital/ balance total 0,71 0,72 0,62 0,56
0,50
Equity / balance total
0,78 0,81 0,68 0,61 0,61
Equity / Fixed assets 10,45
8,76 10,42 10,85 5,65
Equity / liabilities 3,58 4,36 2,15 1,59
1,56
Balance total / liabilities 4,58 5,36 3,15 2,59 2,56
Working capital 4.439362
4.696.727 4.092.940 3.486.218 2.256.815
Equity 4.909.257 5.301.731 4.527.218 3.840.175
2.742.396
Mutation equity -7,40
17,11 17,89 40,03 -7,91
Mutation short term liabilities 12,88 -42,38 -12,54 37,24 -48,98
Return on total assets (ROA) -7,79 15,77
29,92 23,73 22,82
Return on equity (ROE) -9,97
19,38 43,86 38,63 37,45
Gross margin 4.685.202
6.277.905 7.178.475 5.908.658
5.796.959
Operating result -408.159
1.114.130 2.078.508 1.557.707 1.112.952
Net result after taxes -392.474
774.513 1.487.043 1.097.779 764.228
Cashflow -925.000
960.889 1.635.106 1.267.276
926.563
EBIT -408.159
1.114.130 2.078.508 1.557.707 1.112.952
EBITDA -216.722
1.300.506 2.226.571 1.727.204 1.275.287
Summary
The 2013 financial result structure is a positive working
capital of 4.439.362 euro, which is in
agreement with 71 % of the total assets of the company.
The working capital has diminished with -5.48 % 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 an increase of the
current liabilities.
The current ratio of the company in 2013 was 4.24. If the
current ratio exceeds 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 1.87. A company
with a Quick Ratio of more than
1 can currently pay back its current liabilities.
The 2012 financial result structure is a positive working
capital of 4.696.727 euro, which is in
agreement with 72 % of the total assets of the company.
The working capital has increased with 14.75 % compared to
previous year. The ratio, with
respect to the total assets of the company has however,
increased.
The improvement between 2011 and 2012 has mainly been
caused by an increase of the
current assets.
The current ratio of the company in 2012 was 4.86. 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 1.48. 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 J.
Kersten B.V.
Galvanibaan 14
3439MG Nieuwegein
Registration
number: 301062870000
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
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End date |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
2009-06-30 |
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Real estate |
1 |
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Other tangible fixed assets |
302.445 |
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Tangible fixed assets |
302.446 |
377.627 |
254.747 |
307.957 |
485.581 |
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Fixed assets |
469.895 |
605.004 |
434.278 |
353.957 |
485.581 |
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Inventories |
3.239.960 |
4.117.776 |
3.678.386 |
3.073.854 |
2.556.573 |
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Accounts receivable |
|
1.056.062 |
1.280.204 |
1.360.261 |
1.161.314 |
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Total receivables |
2.569.059 |
1.220.854 |
1.552.069 |
1.666.266 |
1.434.220 |
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Liquid funds |
2.335 |
573.567 |
972.012 |
1.158.222 |
23.616 |
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Current assets |
5.811.354 |
5.912.197 |
6.202.467 |
5.898.342 |
4.014.409 |
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Total assets |
6.281.249 |
6.517.201 |
6.636.745 |
6.252.299 |
4.499.990 |
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Total equity |
4.909.257 |
5.301.731 |
4.527.218 |
3.840.175 |
2.742.396 |
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Liabilities towards credit
institutes |
359.850 |
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Debts to subsidiary
companies |
123.376 |
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Other short term liabilities |
888.766 |
623.495 |
1.751.661 |
1.714.705 |
1.494.006 |
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Short term liabilities |
1.371.992 |
1.215.470 |
2.109.527 |
2.412.124 |
1.757.594 |
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Total short and long term liabilities |
1.371.992 |
1.215.470 |
2.109.527 |
2.412.124 |
1.757.594 |
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Total liabilities |
6.281.249 |
6.517.201 |
6.636.745 |
6.252.299 |
4.499.990 |
Summary
The total assets of the company decreased with -3.62 %
between 2012 and 2013.
This downturn is mainly retrievable in the fixed asset
decrease of -22.33 %.
The asset reduction results in an equity decrease of -7.4
%. Despite the decrease, the
indebtness increased with 12.88 %.
In 2013 the assets of the company were 7.48 % composed of
fixed assets and 92.52 % by
current assets. The assets are being financed by an equity
of 78.16 %, and total debt of
21.84 %.
The total assets of the company decreased with -1.8 %
between 2011 and 2012.
Despite the total assets decrease, non current assets grew
with 39.31 %.
The asset reduction is in contrast with the equity growth
of 17.11 %. Due to this the total debt
decreased with -42.38 %.
In 2012 the assets of the company were 9.28 % composed of
fixed assets and 90.72 % by
current assets. The assets are being financed by an equity
of 81.35 %, and total debt of
18.65 %.
Profit & loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Gross margin |
4.685.202 |
6.277.905 |
7.178.475 |
5.908.658 |
5.796.959 |
|
Wages and salaries |
1.561.202 |
1.870.678 |
1.808.811 |
1.695.125 |
1.816.100 |
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Social security
contributions |
185.838 |
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Pension and similar |
53.922 |
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Amorization and depreciation |
191.437 |
186.376 |
148.063 |
169.497 |
162.335 |
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other operating costs |
3.100.962 |
3.106.721 |
3.143.093 |
2.486.329 |
2.705.572 |
|
Operating expenses |
5.093.361 |
5.163.775 |
5.099.967 |
4.350.951 |
4.684.007 |
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Operating result |
-408.159 |
1.114.130 |
2.078.508 |
1.557.707 |
1.112.952 |
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Financial expenses |
|
86.681 |
|
74.081 |
|
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Financial result |
-81.120 |
-86.681 |
-93.085 |
-74.081 |
-85.930 |
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Result on ordinary operations before taxes |
-489.279 |
1.027.449 |
1.985.423 |
1.483.626 |
1.027.022 |
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Taxation on the result of
ordinary activities |
96.805 |
252.936 |
498.380 |
377.944 |
262.794 |
|
Result of ordinary activities after taxes |
-392.474 |
774.513 |
1.487.043 |
1.105.682 |
764.228 |
|
Extraordinary expense |
|
|
|
7.903 |
|
|
Extraordinary result before
taxation |
|
|
|
7.903 |
|
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Extraordinary result after taxation |
|
|
|
-7.903 |
|
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Net result |
-392.474 |
774.513 |
1.487.043 |
1.097.779 |
764.228 |
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Attributable to shareholders |
-392.474 |
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|
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Summary
The gross profit of the company decreased by -25.37 %
between 2012 and 2013.
The operating result of the company declined with -136.63
% 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 -149.4
% of the analysed period, being equal to 2012 % in the
year 2013.
The Net Result of the company increased by -150.67 %
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
-151.44 % of the analysed period, being -9.97 % in the
year 2013.
The company's financial profitability has been positively
affected by its financial structure.
The gross profit of the company decreased by -12.55 %
between 2011 and 2012.
The operating result of the company declined with -46.4 %
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 -47.29
% of the analysed period,
being equal to 2011 % in the year 2012.
Analysis
Branch (SBI) Groothandel
en Wholesale on a fee or contract basis (niet in auto’s en motorfietsen) (46)
Region Westelijk
Utrecht
In the
In the region Westelijk
Utrecht 4078 of the companies are registered with the SBI code 46
In the
In the region Westelijk
Utrecht 78 of the bankruptcies are published within this sector
The risk of this specific
sector in the
The risk of this specific
sector in the region Westelijk Utrecht is normal
Publications
Filings 31-01-2014:
De jaarrekening over 2013 (gebroken boekjaar) is gepubliceerd.
17-01-2013: De jaarrekening
over 2012 (gebroken boekjaar) is gepubliceerd.
22-11-2011: De jaarrekening
over 2011 (gebroken boekjaar) is gepubliceerd.
09-11-2010: De jaarrekening
over 2010 (gebroken boekjaar) is gepubliceerd.
02-12-2009: De jaarrekening
over 2009 (gebroken boekjaar) is gepubliceerd.
Company structure
Relations 2
H & D Kersten Holding B.V.
Galvanibaan 14
3439MG NIEUWEGEIN
Registration number: 301291940000
J. Kersten B.V.
Galvanibaan 14
3439MG Nieuwegein
Registration number: 301062870000
J. Kersten
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
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 |
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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.