MIRA
INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZEEMAN TEXTIELSUPERS B.V. |
|
|
|
|
Registered Office : |
De Schans 15,
2405XX |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
16.03.1967 |
|
|
|
|
Com. Reg. No.: |
28034863 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
The operation of retail outlets in the area
of textiles, apparel, piece goods, household goods and toys |
|
|
|
|
No. of Employees : |
375 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
NETHERLANDS - ECONOMIC OVERVIEW
Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.
|
Source
: CIA |
Summary
Company name ZEEMAN TEXTIELSUPERS B.V.
Operative address De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Legal form Private Company
Registration
number KvK-nummer:
28034863
VAT-number 005154820
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed
assets |
58.465.000 |
-12,93 |
67.147.000 |
7,77 |
62.308.000 |
|
Total
receivables |
6.543.000 |
-30,70 |
9.442.000 |
124,97 |
4.197.000 |
|
Total
equity |
49.873.000 |
5,84 |
47.122.000 |
-17,26 |
56.949.000 |
|
Short term
liabilities |
120.497.000 |
-27,03 |
165.122.000 |
32,79 |
124.345.000 |
|
Net result |
2.781.000 |
1.516,86 |
172.000 |
-99,25 |
22.809.000 |
|
Working
capital |
-2.006.000 |
84,93 |
-13.311.000 |
-14.856,18 |
-89.000 |
|
Quick ratio |
0,14 |
|
0,14 |
-6,67 |
0,15 |
Contact information
Company name Zeeman Textielsupers
B.V.
Trade names ZEEMAN
textielSupers B.V.
Operative address De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Correspondence
address Postbus 301
2400AH Alphen aan den Rijn
Netherlands
Telephone number 0172 482911
Fax number 0172 482293
Email address zeeman@zeeman.com
Website www.zeeman.com
Registration
Registration
number KvK-nummer:
28034863
Registered in Kamer van
Koophandel Den Haag
Branch number 000020005733
VAT-number 005154820
Status Active
Memorandum 1979-12-28
Establishment date
1967-03-16
Legal form Private Company
Last proposed
admendment 1999-11-17
Activities
SBI Renting of
non-residential real estate (68204)
Exporter No
Importer No
Goal The operation of retail outlets in the area of textiles, apparel, piece goods, household
goods and toys
Relations
Shareholders Zeeman Groep B.V.
De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Registration number: 280473130000
Percentage: 100.00%
Companies on same
address Zeeman Groep B.V.
Registration number: 280473130000
Liability
statements Zeeman Groep
B.V.
De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Registration number: 280473130000
date of issue: 1995-02-02
Starting date: 1993-12-31
Bank details
Accounts ING Bank NV
Account number: 65.24.14.184
Rabobank Nederland
Account number: 39.17.42.744
Management
Active management B.E. Karis (Barthold Eduard)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2007-05-24
Date of birth: 1958-12-11, Hilversum, NL
Involved with the following companies
• Zeeman Groep B.V.
De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Registration number: 280473130000
Function: Manager
A.W.M. van Bolderen (Albertus Wilhelmus Maria)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2011-06-01
Date of birth: 1955-02-02, Tegelen, NL
Involved with the following companies
• Zeeman Groep B.V.
De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Registration number: 280473130000
Function: Manager
Employees
Year 2012 2011 2009 2007 2004
Total 375 375 375
375 375
Payments
Description Payments are made
regularly no complaints are known
Key figures
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
||
|
Quick ratio |
0,14 |
0,14 |
0,15 |
0,20 |
0,32 |
||
|
Current
ratio |
0,98 |
0,92 |
1,00 |
1,02 |
1,14 |
||
|
Working
capital/ balance total |
-0,01 |
-0,06 |
0,00 |
0,01 |
0,09 |
||
|
Equity /
balance total |
0,28 |
0,22 |
0,31 |
0,32 |
0,38 |
||
|
Equity / Fixed
assets |
0,85 |
0,70 |
0,91 |
1,00 |
1,27 |
||
|
Equity /
liabilities |
0,39 |
0,27 |
0,46 |
0,47 |
0,62 |
||
|
Balance
total / liabilities |
1,39 |
1,27 |
1,49 |
1,47 |
1,64 |
||
|
Working
capital |
-2.006.000 |
-13.311.000 |
-89.000 |
1.726.000 |
14.840.000 |
||
|
Equity |
49.873.000 |
47.122.000 |
56.949.000 |
54.623.000 |
64.347.000 |
||
|
Mutation
equity |
5,84 |
-17,26 |
4,26 |
-15,11 |
34,89 |
||
|
Mutation
short term liabilities |
-27,03 |
32,79 |
9,25 |
10,27 |
1,34 |
||
|
Return on
total assets (ROA) |
2,65 |
0,07 |
15,76 |
13,50 |
17,95 |
||
|
Return on
equity (ROE) |
9,41 |
0,34 |
51,64 |
42,06 |
47,08 |
||
|
Gross
profit margin |
2,12 |
1,04 |
6,30 |
5,24 |
7,00 |
||
|
Net profit
margin |
0,53 |
0,03 |
4,31 |
3,67 |
6,76 |
||
|
Average
collection ratio |
4,37 |
3,16 |
4,26 |
4,38 |
4,61 |
||
|
Average
payment ratio |
80,54 |
55,31 |
126,13 |
66,27 |
27,00 |
||
|
Equity
turnover ratio |
10,57 |
11,08 |
9,30 |
9,13 |
7,40 |
||
|
Total
assets turnover ratio |
2,98 |
2,39 |
2,84 |
2,93 |
2,82 |
||
|
Fixed assets
turnover ratio |
9,01 |
7,78 |
8,50 |
9,14 |
9,39 |
||
|
Inventory
conversion ratio |
5,18 |
4,04 |
5,02 |
5,35 |
5,57 |
||
|
Turnover |
527.004.000 |
522.239.000 |
529.358.000 |
498.910.000 |
476.305.000 |
||
|
Gross
margin |
239.099.000 |
232.761.000 |
|
231.480.000 |
|
||
|
Operating
result |
11.178.000 |
5.439.000 |
33.336.000 |
26.124.000 |
33.341.000 |
||
|
Net result
after taxes |
2.781.000 |
172.000 |
22.809.000 |
18.287.000 |
32.185.000 |
||
|
Cashflow |
18.585.000 |
15.837.000 |
37.553.000 |
31.921.000 |
44.825.000 |
||
|
Gross
profit |
|
|
529.358.000 |
|
476.305.000 |
||
|
EBIT |
11.178.000 |
5.439.000 |
33.336.000 |
26.124.000 |
33.341.000 |
||
|
EBITDA |
26.982.000 |
21.104.000 |
48.080.000 |
39.758.000 |
45.981.000 |
||
Summary The 2012 financial
result structure is a negative working captial of -2.006.000 euro, which is in
agreement with -1 % of the total assets of the company.
The working capital has increased with 84.93 % 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 0.98. 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 0.14. A company with a Quick
Ratio of less than 1 cannot currently pay back its current liabilities.
The 2011 financial result structure is a negative working captial of
-13.311.000 euro, which is in agreement with -6 % of the total assets of the
company.
The working capital has diminished with -14856.18 % compared to previous
year. The ratio, with respect to the total assets of the company has however,
increased.
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 0.92. 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 0.14. 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 Zeeman Groep
B.V.
De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Registration number: 280473130000
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 |
1.098.000 |
1.212.000 |
1.115.000 |
|
|
|
Other
tangible fixed assets |
|
|
59.095.000 |
|
50.727.000 |
|
Tangible fixed assets |
55.852.000 |
64.025.000 |
59.095.000 |
54.611.000 |
50.727.000 |
|
Other financial
fixed assets |
|
|
2.098.000 |
|
|
|
Financial fixed assets |
1.515.000 |
1.910.000 |
2.098.000 |
|
|
|
Fixed assets |
58.465.000 |
67.147.000 |
62.308.000 |
54.611.000 |
50.727.000 |
|
Other stock |
|
|
105.502.000 |
|
85.526.000 |
|
Total stock |
101.835.000 |
129.393.000 |
105.502.000 |
93.181.000 |
85.526.000 |
|
Accounts
receivable |
190.000 |
124.000 |
71.000 |
24.000 |
117.000 |
|
Other
receivables |
6.353.000 |
9.318.000 |
4.126.000 |
7.505.000 |
17.521.000 |
|
Total receivables |
6.543.000 |
9.442.000 |
4.197.000 |
7.529.000 |
17.638.000 |
|
Liquid
funds |
10.113.000 |
12.976.000 |
14.557.000 |
14.828.000 |
14.886.000 |
|
accruals |
|
|
4.126.000 |
|
17.521.000 |
|
Current assets |
118.491.000 |
151.811.000 |
124.256.000 |
115.538.000 |
118.050.000 |
|
Total assets |
176.956.000 |
218.958.000 |
186.564.000 |
170.149.000 |
168.777.000 |
|
Other
reserves |
|
|
56.949.000 |
|
64.347.000 |
|
Total reserves |
|
|
56.949.000 |
|
64.347.000 |
|
Total equity |
49.873.000 |
47.122.000 |
56.949.000 |
54.623.000 |
64.347.000 |
|
Provisions |
6.586.000 |
6.714.000 |
4.664.000 |
1.714.000 |
1.220.000 |
|
Other long
term liabilities |
|
|
606.000 |
|
|
|
Long term liabilities |
|
|
606.000 |
|
|
|
Accounts
payable |
|
20.072.000 |
|
|
|
|
Other short
term liabilities |
|
145.050.000 |
124.345.000 |
|
103.210.000 |
|
Short term liabilities |
120.497.000 |
165.122.000 |
124.345.000 |
113.812.000 |
103.210.000 |
|
Total short and long term liabilities |
127.083.000 |
171.836.000 |
124.951.000 |
115.526.000 |
103.210.000 |
|
Total liabilities |
176.956.000 |
218.958.000 |
186.564.000 |
170.149.000 |
168.777.000 |
Summary The total assets
of the company decreased with -19.18 % between 2011 and 2012.
This total assets decrease has been reflected in a reduction of non
current assets of -12.93 %.
The asset reduction is in contrast with the equity growth of 5.84 %. Due
to this the total debt decreased with -26.04 %.
In 2012 the assets of the company were 33.04 % composed of fixed assets
and 66.96 % by current assets. The assets are being financed by an equity of
28.18 %, and total debt of 71.82 %.
The total assets of the company increased
with 17.36 % between 2010 and 2011.
The fixed asset growth of 7.77 % is lower than the total asset growth.
Asset growth is in contrasts with the net worth decline of -17.26 %. The
company's
indebtedness has, therefore, increased with 37.52 %.
In 2011 the assets of the company were 30.67 % composed of fixed assets
and 69.33 % by current assets. The assets are being financed by an equity of
21.52 %, and total debt of 78.48 %.
Profit and loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
527.004.000 |
522.239.000 |
529.358.000 |
498.910.000 |
476.305.000 |
|
Net turnover |
527.004.000 |
522.239.000 |
529.358.000 |
498.910.000 |
476.305.000 |
|
Gross margin |
239.099.000 |
232.761.000 |
|
231.480.000 |
|
|
Wages and
salaries |
122.956.000 |
121.486.000 |
112.962.000 |
109.478.000 |
101.018.000 |
|
Amorization
and depreciation |
15.804.000 |
15.665.000 |
14.744.000 |
13.634.000 |
12.640.000 |
|
Sales |
287.905.000 |
289.478.000 |
|
267.430.000 |
|
|
other
operating costs |
89.161.000 |
90.171.000 |
87.926.000 |
82.244.000 |
74.577.000 |
|
Raw materials
and consumables |
|
|
280.390.000 |
|
254.729.000 |
|
Operating
expenses |
515.826.000 |
516.800.000 |
496.022.000 |
472.786.000 |
442.964.000 |
|
Operating result |
11.178.000 |
5.439.000 |
33.336.000 |
26.124.000 |
33.341.000 |
|
Financial income |
5.000 |
172.000 |
16.000 |
404.000 |
1.357.000 |
|
Financial
expenses |
6.491.000 |
5.449.000 |
3.946.000 |
3.551.000 |
4.405.000 |
|
Financial
result |
-6.486.000 |
-5.277.000 |
-3.930.000 |
-3.147.000 |
-3.048.000 |
|
Result on ordinary operations before taxes |
4.692.000 |
162.000 |
29.406.000 |
22.977.000 |
30.293.000 |
|
Taxation on
the result of ordinary activities |
1.331.000 |
-692.000 |
6.388.000 |
4.690.000 |
-2.221.000 |
|
Result of ordinary activities after taxes |
3.361.000 |
854.000 |
23.018.000 |
18.287.000 |
32.514.000 |
|
Extraordinary
expense |
580.000 |
682.000 |
209.000 |
|
329.000 |
|
Extraordinary
result after taxation |
-580.000 |
-682.000 |
-209.000 |
|
-329.000 |
|
Net result |
2.781.000 |
172.000 |
22.809.000 |
18.287.000 |
32.185.000 |
Summary The turnover of
the company remained the same between 2011 and 2012.
The gross profit of the company grew with 2.72 % between 2011 and 2012.
The operating result of the company grew with 105.52 % between 2011 and
2012. 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
3685.71 % of the analysed period, being equal to 2011 % in the year
2012.
This growth has contributed to the increase in assets turnover,
increasing by 24.69 %
reaching 2.98.
The Net Result of the company decreased by 1516.86 % 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 2667.65 % of the analysed period, being 9.41 % in the year 2012.
The company's financial structure has slowed down its financial
profitability.
The turnover of the company decreased by -1.34 % between 2010 and 2011.
The operating result of the company declined with -83.68 % between 2010
and 2011. 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 -99.56
% 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 -15.85 to a
level of 2.39.
The Net Result of the company increased by -99.25 % 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
-99.34 % of the analysed period, being 0.34 % in the year 2011.
The company's financial profitability has
been positively affected by its financial structure.
Analysis
Branch (SBI) REAL ESTATE
ACTIVITIES (68)
Region Rijnland
In the Netherlands 50896 of the companies are registered with the SBI
code 68
In the region Rijnland 1577 of the companies are registered with the SBI
code 68
In the Netherlands 595 of the bankrupcties are published within this
sector
In the region Rijnland 5 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 Rijnland is normal
Publications
Consent statements
05-11-2013: Voor
boekjaar 2012 is een instemmingsverklaring gedeponeerd.
27-12-2012: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.
24-08-2011: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.
01-09-2010: Voor boekjaar 2009 is een instemmingsverklaring gedeponeerd.
Functions 03-06-2011: Per
31-05-2011 is bestuurder Eric Jan van der Woude uit functie getreden.
01-06-2011: Per 01-06-2011 is bestuurder Albertus Wilhelmus Maria van
Bolderen in functie
getreden.
Company structure
Relations 3
Zeeman Groep B.V.
De Schans 15
2405XX Alphen aan
den Rijn
Netherlands
Registration
number: 280473130000’
• Zeeman Textielsupers B.V.
De Schans 15
2405XX Alphen aan den Rijn
Netherlands
Registration number: 280348630000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.