MIRA
INFORM REPORT
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Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
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Name : |
VAN SILLEVOLDT RIJST B.V. |
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Registered Office : |
Ketelweg 34, Papendrecht, 3356
LE, Netherlands |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.05.1990 |
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Com. Reg. No.: |
23063811 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is engaged in grain milling; and manufacture of
breakfast cereals and cereals-based foods. |
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No. of Employees : |
110 |
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 : |
Slow but correct |
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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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
Company name and address
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Van Sillevoldt Rijst B.V. |
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Employees: |
110 |
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Company
Type: |
Private Subsidiary |
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Corporate
Family: |
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Ultimate
Parent: |
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Incorporation
Date: |
31-May-1990 |
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Fiscal
Year End: |
31-Dec-2012
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Reporting
Currency: |
Euro
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Annual
Sales: |
139.3 |
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Total
Assets: |
34.1 |
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Business Description |
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Van Sillevoldt Rijst B.V. is
primarily engaged in grain milling; and manufacture of breakfast cereals and
cereals-based foods. |
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Industry |
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Registered No.(NLD):
23063811
1 -
Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
Overview
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Corporate Family |
Corporate Structure News: |
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Van Sillevoldt Rijst B.V. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Papendrecht, Zuid-Holland |
Netherlands |
Holding Companies |
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Subsidiary |
Papendrecht, Zuid-Holland |
Netherlands |
Food Manufacturing |
139.3 |
110 |
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Annual Profit & Loss
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period
Length |
12
Months |
12
Months |
12
Months |
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Filed
Currency |
EUR |
EUR |
EUR |
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Exchange
Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Net sales |
139.3 |
136.5 |
108.5 |
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Cost of goods sold |
129.4 |
130.9 |
106.4 |
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Cost of sales |
129.4 |
130.9 |
106.4 |
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Gross profit |
9.9 |
5.6 |
2.1 |
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Change in value of fixed assets arising from revaluation |
0.9 |
0.9 |
0.9 |
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Other operating costs |
4.4 |
5.0 |
3.0 |
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Net operating income |
4.6 |
- |
- |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.6 |
0.9 |
0.5 |
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Profit before tax |
3.9 |
- |
- |
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Profit attributable to minority interest shareholdings |
0.0 |
- |
- |
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Profit on ordinary activities after tax |
3.0 |
-0.9 |
-1.7 |
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Total taxation |
1.0 |
-0.3 |
-0.6 |
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Profit after tax |
3.0 |
-0.9 |
-1.7 |
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Net profit |
3.0 |
- |
- |
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Net loss |
- |
-0.9 |
-1.7 |
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Annual Balance Sheet |
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Financials
in: USD (mil) |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed
Currency |
EUR |
EUR |
EUR |
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Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Share premium account |
0.4 |
0.4 |
0.4 |
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Other reserves |
7.7 |
8.2 |
10.9 |
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Total reserves |
- |
0.2 |
0.1 |
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Profit brought forward from previous year(s) |
3.1 |
- |
- |
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Total stockholders equity |
13.0 |
9.8 |
11.6 |
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Provisions and allowances |
0.1 |
0.1 |
0.0 |
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Total long-term liabilities |
0.7 |
- |
- |
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Trade creditors |
7.2 |
5.5 |
10.7 |
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Total current liabilities |
20.3 |
23.6 |
22.4 |
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Total liabilities (including net worth) |
34.1 |
33.5 |
34.1 |
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Total tangible fixed assets |
5.3 |
5.5 |
5.0 |
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Total asset investment |
0.7 |
0.6 |
0.6 |
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Total non-current assets |
5.9 |
6.1 |
5.5 |
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Net stocks and work in progress |
12.3 |
13.0 |
16.0 |
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Trade debtors |
13.8 |
12.9 |
8.4 |
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Other receivables |
0.8 |
1.4 |
2.3 |
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Total receivables |
14.6 |
14.4 |
10.7 |
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Cash and liquid assets |
1.3 |
0.0 |
1.8 |
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Total current assets |
28.2 |
27.3 |
28.5 |
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Total assets |
34.1 |
33.5 |
34.1 |
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Annual Ratios |
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Financials
in: USD (mil) |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period
Length |
12
Months |
12
Months |
12
Months |
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Filed
Currency |
EUR |
EUR |
EUR |
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Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.40 |
1.20 |
1.30 |
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Acid test ratio |
0.80 |
0.60 |
0.60 |
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Current liabilities to net worth |
1.55% |
2.41% |
1.93% |
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Fixed assets to net worth |
0.46% |
0.63% |
0.48% |
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Collection period |
35.20 |
37.10 |
27.90 |
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Stock turnover rate |
11.70 |
9.80 |
6.90 |
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Sales to net working capital |
18.10 |
34.00 |
18.00 |
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Asset turnover |
4.20% |
3.81% |
3.23% |
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Profit margin |
0.03% |
-0.01% |
-0.02% |
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Return on assets |
0.12% |
-0.03% |
-0.07% |
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Shareholders' return |
0.31% |
-0.12% |
-0.20% |
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Sales per employee |
985.37 |
892.58 |
745.10 |
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Profit per employee |
27.93 |
-8.04 |
-15.58 |
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Return on capital |
0.29% |
-0.12% |
-0.24% |
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Net worth |
13.0 |
9.8 |
11.6 |
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Number of employees |
110 |
110 |
110 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.41 |
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1 |
Rs.102.54 |
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Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
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Report Prepared
by : |
NIS |
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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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.