MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
CATZ INTERNATIONAL B.V. |
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Registered Office : |
Blaak 22, 3011TA |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.12.1926 |
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Com. Reg. No.: |
24026175 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject is
engaged in Import, export and distribution of spices and related products, dried
dried fruit, nuts, coconut, dried vegetables and herbs |
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No. of Employees : |
59 |
RATING & COMMENTS
|
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 : |
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 – September 30, 2013
|
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.
|
Source
: CIA |
Summary
Company name CATZ INTERNATIONAL B.V.
Operative address Blaak 22
3011TA Rotterdam
Netherlands
Legal form Private Company
Registration number KvK-nummer:
24026175
VAT-number 001841890
Year 2012 Mutation
2011 Mutation 2010
Fixed assets 81.817.349 10,67 73.926.734
3,21 71.628.000
Total
receivables 65.855.021 12,42 75.197.581 25,29 60.019.000
Total equity 121.935.141 8,95 111.914.040
49,61 74.802.000
Short term
liabilities 115.416.313 -15,47
136.544.088 22,88 111.118.000
Net result 27.027.146 3,35 26.151.631
68,98 15.476.000
Working capital 68.615.500 4,25 65.821.057
17,84 55.854.000
Quick ratio 0,58 5,45 0,55 -8,33 0,60
Contact information
Company name Catz International B.V.
Trade names Catz International B.V.
Operative address
Blaak 22
3011TA Rotterdam
Netherlands
Correspondence address Postbus 180
3000AD Rotterdam
Netherlands
Telephone number
0104113440
Fax number 0104118913
Email address
info@catz.nl
Website www.catz.nl
Registration
Registration number KvK-nummer: 24026175
Branch number
000009517316
VAT-number 001841890
Status Active
First registration company register 1945-09-18
Memorandum 1926-12-14
Establishment date 1926-12-14
Legal form Private Company
Last proposed admendment 1977-05-02
Activities
SBI Agents involved in the sale of food (4617)
Wholesale of coffee, tea, cocoa and spices
(no raw) (4637)
Exporter No
Importer No
Goal Import, export and distribution of spices
and related products, dried dried fruit, nuts, coconut, dried vegetables and
herbs
Relations
Shareholders Amsterdam
Commodities N.V.
Beursplein 3710e etage
3011AA Rotterdam
Netherlands
Registration number: 24191858
Percentage: 100.00%
Companies on same address Amount: 41
Liability statements
Amsterdam Commodities
N.V.
Beursplein 3710e etage
3011AA Rotterdam
Netherlands
Registration number: 24191858
date of issue: 1988-03-29
Starting date: 1986-01-01
Bank details
Accounts ABN
Amro Bank NV
Account number: 42.11.26.000
Banque Artesia NV
Account number: 63.38.03.006
Banque Artesia NV
Account number: 50.03.24.220
Société Générale
Account number: 27.02.47.092
Management
Active management H.C. Moerman (Hendrik Cornelis)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 1998-09-18
Date of birth: 1960-12-11, Bergschenhoek, NL
J. Penning (Joost)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 1988-10-01
Date of birth: 1959-06-16,
Hendrik-Ido-Ambacht, NL
A.G.P. Maarleveld (Arie Gabriël Pieter)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 1998-07-01
Date of birth: 1968-01-15, Oud-Beijerland,
NL
M.M. Kok (Michel Maurice)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 1999-07-01
Date of birth: 1962-03-21, Rotterdam, NL
P. Veltenaar (Peter)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 2000-01-01
Date of birth: 1961-03-11, Amsterdam, NL
Y. Gottesmann (Yoav)
Netherlands
Function: Commissaris
Starting date: 2002-09-17
Date of birth: 1952-08-04, Haifa, IL
Involved with the following companies
• Amsterdam Commodities N.V.
Beursplein 3710e etage
3011AA Rotterdam
Netherlands
Registration number: 24191858
Function: Commissaris
B.H. Stuivinga (Bernard Hendrik)
Netherlands
Function: Commissaris
Starting date: 2002-09-17
Date of birth: 1956-02-11, Uithuizen, NL
Involved with the following companies
• Amsterdam Commodities N.V.
Beursplein 3710e etage
3011AA Rotterdam
Netherlands
Registration number: 24191858
Function: Commissaris
R. Baas (Roland)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2004-06-01
Date of birth: 1957-06-19, Rotterdam, NL
A. Berisa (Albert)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2006-01-01
Date of birth: 1970-10-09, Maribor, NL
F. van der Pijl (Feike)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2012-01-01
Date of birth: 1972-10-20, Rotterdam, NL
R.S.D. Janssen (Robbert Steven Diederick)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-01-01
Date of birth: 1973-08-25, Mijnsheerenland,
NL
Employees
Group total 468
Year
2012
Total 59
Payments
Score 7,6
Description Payments made
under regular condition
Key figures
Year 2012 2011 2010 2009
2008
Quick ratio 0,58 0,55 0,60 0,82
Current ratio 1,59 1,48 1,50 1,84
Working capital/
balance total 0,26 0,24 0,23 0,34 0,76
Equity / balance
total 0,46 0,41 0,31 0,55
0,54
Equity / Fixed
assets 1,49 1,51 1,04
2,18 2,30
Equity /
liabilities 0,85 0,68 0,49 1,21 -1,00
Balance total /
liabilities 1,85 1,68 1,55 2,21
-1,84
Working capital 68.615.500 65.821.057 55.854.000 24.621.000
49.047.000
Equity 121.935.141
111.914.040 74.802.000 39.382.000
34.899.000
Mutation equity 8,95 49,61 89,94 12,85
8,89
Mutation short
term liabilities -15,47 22,88 280,81
Return on total
assets (ROA) 14,44 13,81 11,12 19,23 17,20
Return on equity
(ROE) 31,49 34,10 35,48 35,11
31,65
Gross profit
margin 6,93 7,14 7,92 7,99
5,35
Net profit margin 4,56 4,58 4,13 6,40
4,99
Average collection
ratio 5,14 4,18 3,37 5,64
Average payment
ratio 9,01 7,59 6,25 11,26
12,25
Equity turnover
ratio 4,86 5,10 5,01
4,18 5,02
Total assets
turnover ratio 2,23 2,07 1,57 2,29
2,73
Fixed assets
turnover ratio 7,25 7,72 5,23 9,09
11,56
Inventory
conversion ratio 5,06 4,51 3,74
5,53 5,97
Turnover 593.099.563 570.986.669 374.908.000 164.519.000
175.266.000
Gross margin 87.648.100 83.357.862 18.419.000
Operating result 41.117.649 40.751.878 29.703.000 13.138.000
9.374.000
Net result after taxes 27.027.146
26.151.631 15.476.000 10.532.000
8.742.000
Year 2012
2011 2010 2009 2008
Cashflow 29.834.855
28.475.398 17.441.000 8.927.000
Gross profit 374.908.000
164.519.000 18.419.000
EBIT 41.117.649
40.751.878 29.703.000
13.138.000 9.374.000
EBITDA
43.925.358 43.075.645 31.668.000 9.559.000
Summary
The 2012
financial result structure is a postive working captial of 68.615.500 euro,
which is in agreement with 26 % of the total assets of the company. The working
capital has increased with 4.25 % 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 1.59. A company with a current ratio
between
1.5
and 3.0 generally indicates good short-term financial strength.
The
quick ratio in 2012 of the company was 0.58. A company with a Quick Ratio of
less than
1
cannot currently pay back its current liabilities.
The 2011
financial result structure is a postive working captial of 65.821.057 euro,
which is in agreement with 24 % of the total assets of the company. The working
capital has increased with 17.84 % compared to previous year. The ratio, with
respect to the total assets of the company has however, increased. The
improvement between 2010 and 2011 has mainly been caused by a current
liabilities reduction.
The
current ratio of the company in 2011 was 1.48. 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 0.55. A company with a Quick Ratio of
less than 1 cannot currently pay back its current liabilities.
Financial statement
Type of annual
account Consolidated
Annual account Amsterdam
Commodities N.V.
Beursplein 3710e etage
3011AA Rotterdam
Netherlands
Registration number: 24191858
Balance
Year 2012
2011 2010 2009 2008
End date 2012-12-31
2011-12-31 2010-12-31 2009-12-31
2008-12-31
Intangible fixed assets 47.699.812
48.206.186 48.072.000 4.605.000
1.529.000
Other tangible fixed assets 23.259.000
1.540.000
Tangible fixed assets 33.741.781
25.405.526 23.259.000 1.540.000 493.000
Associated and affliated companies 11.626.000
Other financial fixed assets 297.000
320.000
Financial fixed assets 375.756 315.022 297.000
11.947.000 13.138.000
Fixed assets 81.817.349
73.926.734 71.628.000 18.092.000 15.160.000
Inventories 117.178.091
126.639.326 100.282.000 29.757.000
29.339.000
Accounts receivable 60.844.874
70.259.442 54.976.000 14.178.000
13.843.000
Other receivables 5.010.147 4.938.139 5.044.000 435.000 464.000
Total receivables 65.855.021
75.197.581 60.019.000 14.613.000
14.307.000
Liquid funds 998.701 528.238 6.671.000 9.430.000 5.401.000
accruals 5.044.000
435.000 464.000
Current assets 184.031.813
202.365.145 166.972.000
53.800.000 49.047.000
Total assets 265.849.162
276.291.879 238.600.000 71.892.000
64.207.000
Total equity 121.935.141
111.914.040 74.802.000 39.382.000
34.899.000
Provisions 12.363.436
4.337.411 9.723.000
3.760.000
Long term interest yielding debt 16.134.272 23.496.340 19.902.000
2.523.000
Financial debts 19.902.000 2.523.000
Tax liabilities 809.000
Other long term liabilities 23.055.000
809.000
Long term liabilities 16.134.272
23.496.340 42.957.000 3.332.000
1.192.000
Accounts payable 33.425.974
31.607.512 30.822.000
Liabilities towards credit institutes 59.990.000
13.610.000
Short term interest yielding debt 59.990.000 13.610.000
Tax liabilities 5.425.000
2.234.000
Other short term liabilities 81.990.339
104.936.576 14.881.000 13.335.000
Short term liabilities 115.416.313
136.544.088 111.118.000 29.179.000
Total short and long term
liabilities 143.914.021
164.377.839 154.075.000 32.511.000
-34.899.000
Total liabilities 265.849.162
276.291.879 238.600.000 71.892.000
Summary
The total assets of the company decreased with -3.78 % between 2011 and
2012.
Despite the total assets decrease, non current assets grew with 10.67 %.
The asset reduction is in contrast with the equity growth of 8.95 %. Due
to this the total debt decreased with -12.45 %.
In 2012 the assets of the company were 30.78 % composed of fixed assets
and 69.22 % by current assets. The
assets are being financed by an equity of 45.87 %, and total debt of
54.13 %.
The total assets of the company increased with 15.8 % between 2010 and
2011.
The fixed asset growth of 3.21 % is lower than the total asset growth.
The asset growth has mainly been financed by a Net Worth increase of
49.61 %. Debt, however, grew with 6.69 %.
In 2011 the assets of the company were 26.76 % composed of fixed assets
and 73.24 % by current assets. The assets are being financed by an equity of
40.51 %, and total debt of 59.49 %.
Profit and loss
Year 2012
2011 2010 2009 2008
Revenues 593.099.563
570.986.669 374.908.000 164.519.000
175.315.000
Other operating income 49.000
Net turnover 593.099.563
570.986.669 374.908.000 164.519.000
175.266.000
Gross margin
87.648.100 83.357.862 18.419.000
Wages and salaries 29.823.964
28.455.838 18.619.000 5.551.000
Amorization and
Depreciation
2.807.709 2.323.767 1.965.000 185.000
Sales 505.451.463
487.628.807
other operating costs 13.898.778
11.826.379 9.972.000 5.697.000
3.358.000
Production costs
4.793.000
Raw materials and
consumables
314.648.000
140.891.000
Operating expenses 551.981.914
530.234.791 345.205.000 151.381.000 165.941.000
Year 2012
2011 2010 2009 2008
Result in subsidiaries
635.000 2.568.000
Operating result 41.117.649
40.751.878 29.703.000 13.138.000
9.374.000
Financial income 161.407
500.425 254.000 353.000 146.000
Financial expenses 2.881.712
3.091.249 3.416.000 298.000
1.043.000
Financial result -2.720.305
-2.590.824 -3.162.000 55.000
-897.000
Result on ordinary operations
before taxes 38.397.344
38.161.054 26.541.000 13.828.000 11.045.000
Taxation on the result of
ordinary activities 11.370.198
11.375.673 8.310.000 3.296.000
2.303.000
Result of ordinary activities
after taxes 27.027.146
26.785.381 18.231.000 10.532.000
8.742.000
Extraordinary expense 633.750
2.755.000
Extraordinary result after taxation
-633.750 -2.755.000
Net result 27.027.146
26.151.631 15.476.000 10.532.000
8.742.000
Summary
The turnover of the company grew with 3.87 % between 2011 and 2012.
The gross profit of the company grew with 5.15 % between 2011 and 2012.
The operating result of the company in 2011 is equal to the result in 2012.
This evolution implies an unchanged economic profitability of the company.
The result of these changes is an increase of the company's Economic
Profitability of 4.56 % of the analysed period, being equal to 2011 % in the
year 2012.
This growth has contributed to the increase in assets turnover,
increasing by 7.73 % reaching 2.23.
The Net Result of the company decreased by 3.35 % between 2011 and 2012.
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 -7.65 % of the analysed
period, being 31.49 % in the year 2012.
The company's financial profitability has been positively affected by
its financial structure.
The turnover of the company grew with 52.3 % between 2010 and 2011.
The operating result of the company grew with 37.2 % between 2010 and
2011. This evolution implies an increase of the company's economic
profitability.
The result of these changes is an increase of the company's Economic
Profitability of 24.19 % of the analysed period, being equal to 2010 % in the
year 2011.
This growth has contributed to the increase in assets turnover,
increasing by 31.85 % reaching 2.07.
The Net Result of the company decreased by 68.98 % 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 -3.89 % of the analysed
period, being 34.1 % 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 Groot Rotterdam
In the Netherlands 107516 of the companies
are registered with the SBI code 46
In the region Groot Rotterdam 8793 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 Groot Rotterdam 192 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 Groot Rotterdam is normal
Publications
Consent statements 09-05-2013: Voor
boekjaar 2012 is een instemmingsverklaring gedeponeerd.
15-06-2012: Voor boekjaar 2011 is een
instemmingsverklaring gedeponeerd.
31-05-2011: Voor boekjaar 2010 is een
instemmingsverklaring gedeponeerd.
31-05-2010: Voor boekjaar 2009 is een
instemmingsverklaring gedeponeerd.
Functions 11-12-2013: Per
01-01-2013 is gevolmachtigde Robbert Steven Diederick Janssen in functie
getreden.
11-12-2013: Per
01-01-2012 is gevolmachtigde Feike van der Pijl in functie getreden.
Company structure
Relations 19
Amsterdam Commodities N.V.
Beursplein 3710e etage
3011AA Rotterdam
Netherlands
Registration number: 24191858
• Catz
International B.V.
Blaak 22
3011TA Rotterdam
Netherlands
Registration number: 240261750000
• Bercatz
B.V.
Blaak 22
3011TA ROTTERDAM
Netherlands
Registration number: 241958990000
• Tovano
B.V.
Transportweg 47
2676LM MAASDIJK
Netherlands
Registration number: 270550890000
• Expeditiebedrijf en Reisbureau
"Flowerland" B.V.
Blaak 22
3011TA ROTTERDAM
Netherlands
Registration number: 240971670000
• Indoca N.V.
Postbus 180
3000AD Rotterdam
Netherlands
Registration number: 241059420000
• Marimport B.V.
Blaak 22
3011TA ROTTERDAM
Netherlands
Registration number: 241233180000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.