MIRA
INFORM REPORT
|
Report Date : |
18.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIMBLE EUROPE B.V. |
|
|
|
|
Registered Office : |
Meerheide 45, 5521DZ Eersel |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
17.09.1974 |
|
|
|
|
Com. Reg. No.: |
17035763 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
· Wholesaler of optical articles · Wholesaler of electronic, communication equipment and related parts |
|
|
|
|
No. of Employees : |
21 (2012) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
company name and address
Company name TRIMBLE EUROPE B.V.
Operative address Meerheide 45
5521DZ Eersel
Netherlands
Legal form Besloten
Vennootschap (Private Company)
Registration number KvK-nummer:
17035763
VAT-number 003257447
Company summary
|
Year |
2011 |
Mutation |
2010 |
Mutation |
2009 |
|
Fixed assets |
428.547.024 |
1.730,95 |
23.405.667 |
574,63 |
3.469.387 |
|
Total receivables |
118.777.339 |
-44,14 |
212.652.652 |
43,12 |
148.584.577 |
|
Total equity |
25.716.052 |
45,79 |
17.639.335 |
55,26 |
11.361.235 |
|
Short term liabilities |
335.871.393 |
0,97 |
332.646.807 |
39,47 |
238.511.666 |
|
Net result |
7.490.532 |
38,80 |
5.396.820 |
27,52 |
4.232.263 |
|
Working capital |
-137.538.448 |
-9.324,66 |
-1.459.347 |
-117,97 |
8.120.225 |
|
Quick ratio |
0,38 |
-52,50 |
0,80 |
-8,05 |
0,87 |
Contact information
Company name Trimble Europe
B.V.
Trade names Trimble Europe
B.V.
Trimble
Laser plane
Spectra Precision
Operative address Meerheide 45
5521DZ Eersel
Netherlands
Correspondence
Address Meerheide 45
5521DZ Eersel
Netherlands
Telephone number 0497 532451
Fax number 0497 532450
Email address erfcissues@trimble.com
Website www.trimble.com
Registration
Registration number KvK-nummer:
17035763
Registered in Kamer van
Koophandel Brabant
Branch number 000020089147
VAT-number 003257447
Status Active
First registration
company register 1974-10-07
Memorandum 1974-09-17
Establishment date 1974-09-17
Legal form Besloten
Vennootschap (Private Company)
Last proposed
admendment 2006-11-21
Activities
SBI Wholesale of
optical articles (46436)
Wholesale of
electronic, communication equipment and related parts (4652)
Exporter Yes
Importer Yes
Goal Het inkopen,
verkopen, importeren, exporteren, distribueren, opslaan, verpakken, testen,
controleren en assembleren van goederen,
hard- en software, alsmede het verlenen van
verkoopondersteuning en verrichten van marktonderzoek,
zulks met name voor de markt van Europa, het Midden-Oosten en Afrika
(Buying, selling, importing, exporting,
distributing, storing, packaging, testing,
checking and assembling of goods, hardware
and software, and the provision of
sales support and conduct market research,
in particular for the market of Europe, the Middle East and Africa)
Relations
Shareholders
TNL Technology Holdings C.V.
Blaak 40Basement
3011TA ROTTERDAM
Netherlands
Registration number: 244058360000
Percentage: 100.00%
Branches
Trimble Europe BV
Breeuwhamer 1
1648HG DE GOORN
Netherlands
Management
Active management
A.B.M. Snijders (Antonius Bastiaan Maria)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2006-11-21
Date of birth: 1960-05-20, Goirle, NL
Involved with the following companies
LogicWay B.V.
Geelster 42
7577GB Oldenzaal
Netherlands
Registration number: 082059370000
Function: Manager
J.A. Kirkland (James Anthony)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2008-08-26
Date of birth: 1959-05-19, Buffalo, NL
Involved with the following companies
LogicWay B.V.
Geelster 42
7577GB Oldenzaal
Netherlands
Registration number: 082059370000
Function: Manager
L.K. Lambertson (Leah Kay)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2008-11-15
Date of birth: 1967-11-22, Seattle, NL
W.J.A. van Kollenburg (Wilhelmus Johannes Adrianus)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2009-06-15
Date of birth: 1957-01-14, Udenhout, NL
H. Gebauer (Hans-Jürgen)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2009-06-15
Date of birth: 1956-05-15, Jena, DE
J.A. Kirkland (James Anthony)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-09-24
Date of birth: 1959-05-19, Buffalo, NL
Involved with the following companies
LogicWay B.V.
Geelster 42
7577GB Oldenzaal
Netherlands
Registration number: 082059370000
Function: Manager
Employees
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Total |
21 |
21 |
21 |
21 |
30 |
Payments
Description Payments
made under regular condition
Key figures
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
|
Quick
ratio |
0,38 |
0,80 |
0,87 |
0,80 |
0,72 |
|
|
Current
ratio |
0,59 |
1,00 |
1,03 |
1,03 |
1,00 |
|
|
Working
capital/ balance total |
-0,22 |
|
0,03 |
0,03 |
|
|
|
Equity
/ balance total |
0,04 |
0,05 |
0,05 |
0,04 |
0,01 |
|
|
Equity
/ Fixed assets |
0,06 |
0,75 |
3,27 |
1,97 |
0,35 |
|
|
Equity
/ liabilities |
0,04 |
0,05 |
0,05 |
0,04 |
0,01 |
|
|
Balance
total / liabilities |
1,04 |
1,05 |
1,05 |
1,04 |
1,01 |
|
|
Working
capital |
-137.538.448 |
-1.459.347 |
8.120.225 |
5.299.000 |
552.000 |
|
|
Equity |
25.716.052 |
17.639.335 |
11.361.235 |
7.238.000 |
1.329.000 |
|
|
Mutation equity |
45,79 |
55,26 |
56,97 |
444,62 |
|
|
|
Mutation short term liabilities |
0,97 |
39,47 |
21,98 |
36,32 |
|
|
|
Return on total assets (ROA) |
1,60 |
2,04 |
2,26 |
3,68 |
3,83 |
|
|
Return on equity (ROE) |
39,04 |
40,98 |
49,83 |
103,92 |
425,81 |
|
|
Gross profit margin |
1,67 |
2,02 |
1,43 |
2,36 |
2,45 |
|
|
Net profit margin |
1,33 |
1,27 |
1,28 |
1,49 |
1,59 |
|
|
Average collection ratio |
1,68 |
1,28 |
1,39 |
1,92 |
1,85 |
|
|
Average payment ratio |
4,74 |
2,00 |
2,23 |
2,62 |
2,75 |
|
|
Equity turnover ratio |
21,88 |
24,11 |
29,12 |
51,96 |
199,73 |
|
|
Total assets turnover ratio |
0,90 |
1,20 |
1,32 |
1,84 |
1,80 |
|
|
Fixed assets turnover ratio |
1,31 |
18,17 |
95,34 |
102,56 |
69,03 |
|
|
Inventory conversion ratio |
8,04 |
6,42 |
8,39 |
8,37 |
6,58 |
|
|
Turnover |
562.643.166 |
425.255.936 |
330.788.470 |
376.099.000 |
265.436.000 |
|
|
Gross margin |
297.289.587 |
219.579.880 |
151.792.961 |
168.898.000 |
107.760.000 |
|
|
Operating result |
9.370.894 |
8.573.576 |
4.732.749 |
8.871.000 |
6.509.000 |
|
|
Net result after taxes |
7.490.532 |
5.396.820 |
4.232.263 |
5.604.000 |
4.216.000 |
|
|
EBIT |
9.370.894 |
8.573.576 |
4.732.749 |
8.871.000 |
6.509.000 |
|
Summary
The 2011 financial result structure is a negative working capital of
-137.538.448 euro, which
is in agreement with -22 % of the total assets of the company.
The working capital has diminished with -9324.66 % compared to previous
year. The ratio
with respect to the total assets of the company remains unchanged.
The deterioration between 2010 and 2011 has mainly been caused by an
increase of the
current liabilities.
The current ratio of the company in 2011 was 0.59. 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 0.38. A company with a Quick
Ratio of less than
1 cannot currently pay back its current liabilities.
The 2010 financial result structure is a negative working capital of
-1.459.347 euro, which is
in agreement with -0 % of the total assets of the company.
The working capital has diminished with -117.97 % compared to previous
year. The ratio,
with respect to the total assets of the company has however, declined.
The deterioration between 2009 and 2010 has mainly been caused by an
increase of the
current liabilities.
The current ratio of the company in 2010 was 1. When the current ratio
is below 1.5, the
company may have problems meeting its short-term obligations.
The quick ratio in 2010 of the company was 0.8. 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 Trimble
Europe B.V.
Meerheide 45
5521DZ Eersel
Netherlands
Registration number: 170357630000
Balance sheet
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
|||||
|
End date |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
|||||
|
Intangible fixed assets |
493.856 |
50.116 |
110.371 |
308.000 |
590.000 |
|
|||||
|
Tangible fixed assets |
183.940 |
111.452 |
104.123 |
109.000 |
5.000 |
|
|||||
|
Financial fixed assets |
427.869.228 |
23.244.099 |
3.254.893 |
3.250.000 |
3.250.000 |
|
|||||
|
Fixed assets |
428.547.024 |
23.405.667 |
3.469.387 |
3.667.000 |
3.845.000 |
|
|||||
|
Inventories |
69.990.725 |
66.256.342 |
39.417.593 |
44.956.000 |
40.354.000 |
|
|||||
|
Accounts receivable |
92.684.905 |
80.458.617 |
63.901.829 |
68.714.000 |
83.766.000 |
|
|||||
|
Other receivables |
26.092.433 |
132.194.035 |
84.682.748 |
74.887.000 |
12.763.000 |
|
|||||
|
Total receivables |
118.777.339 |
212.652.652 |
148.584.577 |
143.601.000 |
96.529.000 |
|
|||||
|
Liquid funds |
9.564.881 |
52.278.466 |
58.629.722 |
12.283.000 |
7.108.000 |
|
|||||
|
Current assets |
198.332.945 |
331.187.460 |
246.631.891 |
200.840.000 |
143.991.000 |
|
|||||
|
Total assets |
626.879.969 |
354.593.127 |
250.101.278 |
204.507.000 |
147.836.000 |
|
|||||
|
Total equity |
25.716.052 |
17.639.335 |
11.361.235 |
7.238.000 |
1.329.000 |
||||||
|
Provisions |
|
|
|
|
245.000 |
||||||
|
Long term interest yielding debt |
265.292.524 |
4.306.984 |
228.377 |
1.728.000 |
2.823.000 |
||||||
|
Long term liabilities |
265.292.524 |
4.306.984 |
228.377 |
1.728.000 |
2.823.000 |
||||||
|
Accounts payable |
27.313.548 |
24.072.135 |
15.625.430 |
9.323.000 |
21.165.000 |
||||||
|
Other short term liabilities |
308.557.845 |
308.574.672 |
222.886.236 |
186.218.000 |
122.274.000 |
||||||
|
Short term liabilities |
335.871.393 |
332.646.807 |
238.511.666 |
195.541.000 |
143.439.000 |
||||||
|
Total short and long term liabilities |
601.163.917 |
336.953.791 |
238.740.043 |
197.269.000 |
146.507.000 |
||||||
|
Total liabilities |
626.879.969 |
354.593.127 |
250.101.278 |
204.507.000 |
147.836.000 |
||||||
Summary
The total assets of the company increased with 76.79 % between 2010 and
2011.
The total asset increase is retrievable in the fixed asset growth of
1730.95 %.
The asset growth has mainly been financed by a debt increase of 45.79 %.
The Net Worth,
however, grew with 78.41 %.
In 2011 the assets of the company were 68.36 % composed of fixed assets
and 31.64 % by
current assets. The assets are being financed by an equity of 4.1 %, and
total debt of 95.9 %.
The total assets of the company increased with 41.78 % between 2009 and
2010.
The total asset increase is retrievable in the fixed asset growth of 574.63
%.
The asset growth has mainly been financed by a Net Worth increase of
55.26 %. Debt,
however, grew with 41.14 %.
In 2010 the assets of the company were 6.6 % composed of fixed assets
and 93.4 % by
current assets. The assets are being financed by an equity of 4.97 %,
and total debt of 95.03
%.
Profit & loss
Year 2011
2010
2009 2008 2007
Revenues 562.643.166
425.255.936 330.788.470 376.099.000 265.436.000
Net turnover 562.643.166
425.255.936 330.788.470 376.099.000 265.436.000
Gross margin
297.289.587 219.579.880 151.792.961 168.898.000 107.760.000
Wages and salaries 1.404.744 1. 629.182 2.023.000 2.376.000
Sales 287.918.693
205.676.056 178.995.508 207.201.000 157.676.000
other operating costs 209.601.560 145.431.030 158.004.000 98.875.000
Operating expenses 553.272.272
416.682.360 326.055.721 367.228.000 258.927.000
Operating result
9.370.894 8.573.576 4.732.749 8.871.000 6.509.000
Financial income 1.112.142
295.460 143.000
234.000
Financial expenses 443.620
1.639.616 1.492.000 1.084.000
Financial result 668.522 -1.344.156 928.085 -1.349.000 -850.000
Result on ordinary operations before taxes 10.039.416 7.229.420 5.660.834
7.522.000 5.659.000
Taxation on the result of ordinary activities 2.548.883 1.832.600 1.428.571
1.918.000 1.443.000
Result of ordinary activities after taxes 7.490.532 5.396.820 4.232.263
5.604.000 4.216.000
Net result 7.490.532
5.396.820 4.232.263 5.604.000 4.216.000
Summary
The turnover of the company grew with 32.31 % between 2010 and 2011.
The gross profit of the company grew with 35.39 % between 2010 and 2011.
The operating result of the company grew with 9.3 % 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 -21.57
% of the analysed period, being equal to 2010 % in the year 2011.
This fall has contributed to a asset turnover decrease, whose index
evolved from -25 to a
level of 0.9.
The Net Result of the company decreased by 38.8 % between 2010 and 2011.
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 -4.73 % of the analysed period, being 39.04 % in the year 2011.
The company's financial profitability has been positively affected by
its financial structure.
The turnover of the company grew with 28.56 % between 2009 and 2010.
The gross profit of the company grew with 44.66 % between 2009 and 2010.
The operating result of the company grew with 81.15 % between 2009 and
2010. 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 -9.73 %
of the analysed period, being equal to 2009 % in the year 2010.
This fall has contributed to a asset turnover decrease, whose index
evolved from -9.09 to a
level of 1.2.
The Net Result of the company decreased by 27.52 % between 2009 and
2010.
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
-17.76 % of the analysed period, being 40.98 % in the year 2010.
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-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
21-02-2013: De jaarrekening over 2011 is gepubliceerd.
18-08-2011: De jaarrekening over 2010 is gepubliceerd.
08-03-2011: De jaarrekening over 2009 is gepubliceerd.
17-02-2010: De jaarrekening over 2008 is gepubliceerd.
07-07-2009: De jaarrekening over 2007 is gepubliceerd.
Functions
07-10-2010: Per 24-09-2010 is gevolmachtigde James Anthony Kirkland in
functie getreden.
Other
12-11-2012: ... Datum deponering: 09-11-2012 Soort deponering:
Geconsolideerde jaarrekening (art. 408 BW2).
18-08-2011: Datum deponering: 16-08-2011 Soort deponering:
Geconsolideerde jaarrekening 408.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
UK Pound |
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
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.