MIRA
INFORM REPORT
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Report Date : |
11.01.2014 |
IDENTIFICATION DETAILS
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Name : |
CVB ECOLOGISTICS B.V. |
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Registered Office : |
Wilhelminapark 37, 5041EC |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.11.1978 |
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Com. Reg. No.: |
18026887 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of other used materials and waste materials |
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No. of Employees : |
18 |
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 – 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 CVB ECOLOGISTICS B.V.
Operative address Wilhelminapark 37
5041EC Tilburg
Netherlands
Legal form Private Limited Liability Company
Registration number KvK-nummer: 18026887
VAT-number 006889050
Year 2012 Mutation 2011 Mutation
2010
Fixed assets 1.833.135 -10,50 2.048.249
85,69 1.103.068
Total receivables 14.124.208 14,47 12.338.782
11,97 11.019.302
Total equity 4.669.663 -0,28 4.682.947
29,27 3.622.740
Short term
liabilities 11.138.267 13,92 9.777.663
15,51 8.464.876
Net result -13.284 -101,25 1.060.207 6,91
991.648
Working capital 3.023.208 9,40 2.763.445
8,18 2.554.426
Quick ratio 1,27 -0,78 1,28 -1,54 1,30
Contact information
Company name CVB Ecologistics B.V.
Trade names CVB Ecologistics B.V.
Operative address
Wilhelminapark 37
5041EC Tilburg
Netherlands
Correspondence
address Wilhelminapark 37
5041EC Tilburg
Netherlands
Telephone number 013 4647999
Fax number 013 4647991
Email address info@cvbecologistics.com
Website www.cvbecologistics.com
Registration
Registration number KvK-nummer: 18026887
Registered in Kamer van Koophandel Brabant
Branch number 000016832248
VAT-number 006889050
Status Active
Memorandum 1984-04-27
Establishment date
1978-11-01
Legal form Private Limited Liability Company
Last proposed
admendment 2002-12-12
Activities
SBI Wholesale of other
used materials and waste materials (46779)
Exporter Yes
Importer Yes
Goal Trade in waste paper, plastics and other
recyclable products
Relations
Shareholders Lindans
B.V.
Wilhelminapark 37
5041EC TILBURG
Netherlands
Registration number: 180351600000
Percentage: 100.00%
Companies on same address Belrosa B.V.
Registration number:180130300000
Lindans B.V.
Registration number: 180351600000
CVB Holding B.V.
Registration number: 180809180000
Cavabe B.V.
Registration number: 180809270000
Livabe B.V.
Registration number: 180809210000
Management
Active management Lindans
B.V.
Wilhelminapark 37
5041EC TILBURG
Netherlands
Registration number: 180351600000
Competence: Fully authorized
Function: Manager
Starting date: 2009-01-01
R.A. Getkate (Richard Alain)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2009-01-01
Date of birth: 1972-08-06, Utrecht, NL
Employees
Total according to the
Chamber of Commerce 18
Year 2013
2012 2011
2010 2009
Total 18
18 18 18 18
Payments
Score 5,95
Description Payments are made
regularly with some delay
Key figures
Year 2012
2011 2010 2009 2008
Quick ratio 1,27
1,28 1,30 0,91
0,96
Current ratio 1,27
1,28 1,30 0,91 0,96
Working capital/ balance total
0,19 0,19 0,21 -0,07
-0,03
Equity / balance total 0,29
0,32 0,30 0,21 0,23
Equity / Fixed assets
2,55 2,29 3,28 0,74 0,88
Equity / liabilities 0,41
0,47 0,43 0,26
0,29
Balance total / liabilities 1,41
1,47 1,43 1,26 1,29
Working capital 3.023.208
2.763.445 2.554.426 -925.623
-334.666
Equity 4.669.663
4.682.947 3.622.740 2.631.092
2.347.257
Mutation equity -0,28
29,27 37,69 12,09 103,75
Mutation short term liabilities 13,92
15,51 -14,79 23,22 -31,02
Return on total assets (ROA) 0,02
9,76 10,97 2,98 15,30
Return on equity (ROE) 0,08
30,41 36,71 14,23 67,86
Gross margin 2.660.014
3.994.576 3.493.505 2.065.341
3.617.160
Operating result 57.200
1.488.869 1.355.906 -88.395 1.661.669
Net result after taxes -13.284
1.060.207 991.648 283.835 1.195.450
Cashflow 326.454
1.319.404 1.221.966 409.816 1.346.440
EBIT 57.200
1.488.869 1.355.906 -88.395 1.661.669
EBITDA 396.938 1.748.066 1.586.224 37.586 1.812.659
Summary
The 2012 financial
result structure is a postive working captial of 3.023.208 euro, which is in
agreement with 19 % of the total assets of the company.
The working
capital has increased with 9.4 % compared to previous year. The ratio with
respect to the total assets of the company remains unchanged.
The improvement
between 2011 and 2012 has mainly been caused by a current liabilities
reduction.
The current ratio
of the company in 2012 was 1.27. 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 1.27. A company with a Quick Ratio of more than 1 can
currently pay back its current liabilities.
The 2011 financial
result structure is a postive working captial of 2.763.445 euro, which is in
agreement with 19 % of the total assets of the company.
The working
capital has increase with 8.18 % 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 1.28. 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 1.28. 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 CVB Ecologistics B.V.
Wilhelminapark 37
5041EC Tilburg
Netherlands
Registration number: 180268870000
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 1.569.194 1.671.393
1.086.776 1.022.445 671.542
Financial fixed assets 263.941 376.856 16.292 2.540.725
2.010.381
Fixed assets 1.833.135
2.048.249 1.103.068 3.563.170
2.681.923
Inventories 37.267
Total receivables 14.124.208
12.338.782 11.019.302 9.008.524
6.909.451
Liquid funds 202.326
817.755
Current assets 14.161.475 12.541.108 11.019.302 9.008.524
7.727.206
Total assets 15.994.610
14.589.357 12.122.370 12.571.694
10.409.129
Total equity 4.669.663
4.682.947 3.622.740 2.631.092
2.347.257
Provisions 186.680
128.747 34.754 6.455
Year 2012
2011 2010 2009 2008
End date 2012-12-31
2011-12-31 2010-12-31 2009-12-31 2008-12-31
Short term liabilities 11.138.267
9.777.663 8.464.876 9.934.147 8.061.872
Total short and long term
liabilities 11.324.947
9.906.410 8.499.630 9.940.602
8.061.872
Total liabilities 15.994.610
14.589.357 12.122.370 12.571.694 10.409.129
Summary
The total assets
of the company increased with 9.63 % between 2011 and 2012.
Despite the assets
growth, the non current assets decreased with -10.5 %.
The asset growth is
explained by a reduction of 14.32 % of the company's indebtness, this while,
the Net Worth remains unchanged.
In 2012 the assets
of the company were 11.46 % composed of fixed assets and 88.54 % by current
assets. The assets are being financed by an equity of 29.2 %, and total debt of
70.8
%.
The total assets
of the company increased with 20.35 % between 2010 and 2011.
The total asset
increase is retrievable in the fixed asset growth of 85.69 %.
The asset growth
has mainly been financed by a Net Worth increase of 29.27 %. Debt, however,
grew with 16.55 %.
In 2011 the assets
of the company were 14.04 % composed of fixed assets and 85.96 % by current
assets. The assets are being financed by an equity of 32.1 %, and total debt of
67.9 %.
Profit and loss
Year 2012
2011 2010 2009 2008
Gross margin 2.660.014
3.994.576 3.493.505 2.065.341
3.617.160
Wages and salaries
1.190.173 1.220.219 1.042.634
882.805 816.495
Year 2012
2011 2010 2009 2008
Amorization and depreciation 339.738
259.197 230.318 125.981 150.990
other operating costs 1.072.903
1.026.291 864.647 1.144.950
988.006
Operating expenses 2.602.814
2.505.707 2.137.599 2.153.736
1.955.491
Operating result 57.200
1.488.869 1.355.906 -88.395 1.661.669
Financial income 41.103
2.637 59.747 635.600
231.033
Financial expenses 94.367
67.396 85.787 172.730 299.951
Financial result -53.264
-64.759 -26.040 462.870 -68.918
Result on ordinary operations
before taxes 3.936
1.424.110 1.329.866 374.475 1.592.751
Taxation on the result of
ordinary activities 17.220
323.396 321.310 90.640 397.301
Result of ordinary activities
after taxes
-13.284 1.100.714 1.008.556 283.835 1.195.450
Extraordinary income 7.003
Extraordinary expense 47.510
16.908
Extraordinary result after taxation -40.507
-16.908
Net result -13.284
1.060.207 991.648 283.835 1.195.450
Summary
The gross profit
of the company decreased by -33.41 % between 2011 and 2012.
The operating
result of the company declined with -96.16 % 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 -99.8 %
of the analysed period, being equal to 2011 % in the year 2012.
The Net Result of
the company increased by -101.25 % 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 -99.74 % of the analysed period, being 0.08 % in
the year 2012.
The company's
financial profitability has been positively affected by its financial
structure.
The gross profit
of the company grew with 14.34 % between 2010 and 2011.
The operating
result of the company grew with 9.81 % between 2010 and 2011. 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 -11.03
% of the analysed period, being equal to 2010 % in the year 2011.
The Net Result of
the company decreased by 6.91 % 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 -17.16 % of the analysed period, being 30.41 %
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 Midden-Brabant
In the Netherlands 107516 of the companies
are registered with the SBI code 46
In the region Midden-Brabant 5482 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 Midden-Brabant 118 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 Midden-Brabant is normal
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.94 |
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1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.31 |
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 |
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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.