MIRA INFORM REPORT
|
Report Date : |
21.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONDI MAASTRICHT N.V |
|
|
|
|
Registered Office : |
Fort Willemweg 1, 6219PA Maastricht |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.02.1999 |
|
|
|
|
Com. Reg. No.: |
14061186 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacturer of Pulp, Paper and Paperboard · Manufacturer of containers of paper and paperboard |
|
|
|
|
No of Employees : |
98 (2014) |
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 2012-13 tax revenues
dropped, 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
summary
Company name Mondi Maastricht N.V.
Operative address Fort
Willemweg 1
6219PA Maastricht
Netherlands
Status Active
Legal form Naamloze
Vennootschap (Limited Liability Company)
Registration number
KvK-nummer:
14061186
VAT-number 807387290
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
6.175.000 |
-7,00 |
6.640.000 |
-3,45 |
6.877.000 |
|
Total receivables |
6.107.000 |
4,39 |
5.850.000 |
-4,55 |
6.129.000 |
|
Total equity |
5.857.000 |
10,89 |
5.282.000 |
-22,36 |
6.803.000 |
|
Short term liabilities |
10.180.000 |
5,51 |
9.648.000 |
8,65 |
8.880.000 |
|
Net result |
575.000 |
210,36 |
-521.000 |
-233,97 |
-156.000 |
|
Working capital |
508.000 |
219,25 |
-426.000 |
-144,70 |
953.000 |
|
Quick ratio |
0,70 |
14,75 |
0,61 |
-11,59 |
0,69 |
Contact
information
Company name Mondi
Maastricht N.V.
Trade names Mondi
Maastricht N.V.
Mondi
Maastricht N.V.
Operative address Fort
Willemweg 1
6219PA Maastricht
Netherlands
Correspondence address Postbus
82
6200AB Maastricht
Netherlands
Telephone number 0433299299
Fax number 0433210414
Email address info@mondigroup.com
Website www.mondigroup.com
Registration
Registration number KvK-nummer:
14061186
Branch number 000008507953
VAT-number 807387290
Status Active
First registration
company register 1999-03-04
Memorandum 1999-02-18
Establishment date 1999-02-18
Legal form Naamloze
Vennootschap (Limited Liability Company)
Last proposed admendment 2010-06-14
Activities
SBI MANUFACTURE
OF PULP, PAPER AND PAPERBOARD (17)
Manufacture of containers of
paper and paperboard (17211)
Exporter No
Importer No
Goal De
productie van en de handel in papieren verpakkingseenheden.
(The production of and trade in paper packaging
units.)
Relations
Companies on same address Amount:
14
Management
Active management
P.M.F. Van Orshaegen (Patrick Maria Felix)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2011-05-01
Date of birth: 1963-03-05, Antwerpen, BE
B.M.E. Winthagen (Bartholomeus Maria Eduard)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2012-05-01
Date of birth: 1978-09-11, Heerlen, NL
B.M.E. Winthagen (Bartholomeus Maria Eduard)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2012-05-01
Date of birth: 1978-09-11, Heerlen, NL
M.J.M. Bleeser (Mathieu Joseph Marie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2002-08-01
Date of birth: 1952-08-14, Heer, NL
M.J.M. Bleeser (Mathieu Joseph Marie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2002-08-01
Date of birth: 1952-08-14, Heer, NL
J.H.E.J. van Herten (Jennik Henricus Elisabeth Joha)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2005-10-01
Date of birth: 1966-10-07, Beegden, NL
J.H.E.J. van Herten (Jennik Henricus Elisabeth Joha)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2005-10-01
Date of birth: 1966-10-07, Beegden, NL
R.J.S. Raven (Robert Johannes Servatius)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2008-10-15
Date of birth: 1967-05-31, Maastricht, NL
R.J.S. Raven (Robert Johannes Servatius)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2008-10-15
Date of birth: 1967-05-31, Maastricht, NL
F.P. Hol (Franciscus Petrus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2008-10-15
Date of birth: 1967-09-25, Heerlen, NL
F.P. Hol (Franciscus Petrus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2008-10-15
Date of birth: 1967-09-25, Heerlen, NL
H.J. Lemmens (Hendrikus Johannes)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-12-01
Date of birth: 1967-12-07, Elsloo, NL
H.J. Lemmens (Hendrikus Johannes)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-12-01
Date of birth: 1967-12-07, Elsloo, NL
R.L.B.M. Cloin (Robbert Leonardus Bernardus Ma)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-12-01
Date of birth: 1983-08-25, Zeven, DE
R.L.B.M. Cloin (Robbert Leonardus Bernardus Ma)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-12-01
Date of birth: 1983-08-25, Zeven, DE
J.G.M. Schepers (Johannes Gerardus Marie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2012-01-01
Date of birth: 1960-01-15, Sittard, NL
J.G.M. Schepers (Johannes Gerardus Marie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2012-01-01
Date of birth: 1960-01-15, Sittard, NL
Employees
Total according to the Chamber of Commerce 98
Year 2014
2013 2012
2011 2010
Total 98
98 98 98 98
Payments
Description Payments
made under regular condition
Key figures
Year 2012
2011 2010 2009 2008
Quick ratio 0,70 0,61 0,69 0,66
0,57
Current ratio 1,05
0,96 1,11 1,03 0,91
Working capital/ balance total 0,03 -0,03 0,06 0,01 -0,05
Equity / balance total 0,35 0,33 0,41
0,46 0,38
Equity / Fixed assets 0,95
0,80 0,99 0,89 0,75
Equity / liabilities 0,53
0,50 0,69 0,85 0,60
Balance total / liabilities 1,53 1,50
1,69 1,85 1,60
Working capital 508.000
-426.000 953.000 226.000 -882.000
Equity 5.857.000
5.282.000 6.803.000 6.959.000
7.043.000
Mutation equity 10,89 -22,36 -2,24 -1,19
3,79
Mutation short term liabilities 5,51 8,65 25,67 -30,53 -6,73
Return on total assets (ROA) 4,54 -4,27
-4,62 -0,63 -1,02
Return on equity (ROE) 13,06
-12,84 -11,35 -1,38 -2,71
Gross margin 10.181.000 9.135.000 8.355.000 9.721.000
9.794.000
Operating result 809.000
-597.000 -740.000 -56.000 12.000
Net result after taxes 575.000
-521.000 -156.000 -84.000 506.000
Cashflow 1.755.000
738.000 1.223.000 1.793.000
2.052.000
EBIT 809.000
-597.000 -740.000 -56.000 12.000
EBITDA 1.989.000
662.000 639.000 1.821.000 1.558.000
Summary
The 2012 financial result structure is a positive working
capital of 508.000 euro, which is in
agreement with 3 % of the total assets of the company.
The working capital has increased with 219.25 % 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 1.05. 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 0.7. 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
capital of -426.000 euro, which is in
agreement with -3 % of the total assets of the company.
The working capital has diminished with -144.7 % compared
to previous year. The ratio, with
respect to the total assets of the company has however,
declined.
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 0.96. 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 0.61. 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 Mondi
Maastricht N.V.
Fort Willemweg 1
6219PA Maastricht
Netherlands
Registration number: 140611860000
Balance Sheet
|
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 |
209.000 |
247.000 |
266.000 |
285.000 |
320.000 |
|
Tangible fixed assets |
5.966.000 |
6.393.000 |
6.611.000 |
7.544.000 |
9.077.000 |
|
Fixed assets |
6.175.000 |
6.640.000 |
6.877.000 |
7.829.000 |
9.397.000 |
|
Total stock |
3.571.000 |
3.352.000 |
3.687.000 |
2.629.000 |
3.472.000 |
|
Accounts receivable |
|
|
|
3.633.000 |
4.107.000 |
|
Other receivables |
|
|
|
1.004.000 |
683.000 |
|
Total receivables |
6.107.000 |
5.850.000 |
6.129.000 |
4.637.000 |
4.790.000 |
|
Liquid funds |
1.010.000 |
20.000 |
17.000 |
26.000 |
1.028.000 |
|
Current assets |
10.688.000 |
9.222.000 |
9.833.000 |
7.292.000 |
9.290.000 |
|
Total assets |
16.863.000 |
15.862.000 |
16.710.000 |
15.121.000 |
18.687.000 |
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End
date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Issued capital |
2.000.000 |
2.000.000 |
2.000.000 |
2.000.000 |
2.000.000 |
|
Other
reserves |
3.282.000 |
3.803.000 |
4.959.000 |
5.043.000 |
4.538.000 |
|
Non-distributable
profit |
575.000 |
521.000 |
156.000 |
84.000 |
505.000 |
|
Total reserves |
3.857.000 |
4.845.000 |
5.271.000 |
5.211.000 |
5.043.000 |
|
Total equity |
5.857.000 |
5.282.000 |
6.803.000 |
6.959.000 |
7.043.000 |
|
Provisions |
826.000 |
932.000 |
1.027.000 |
1.096.000 |
1.472.000 |
|
Accounts payable |
|
|
|
1.832.000 |
1.449.000 |
|
Other short term liabilities |
|
|
|
5.234.000 |
8.723.000 |
|
Short term liabilities |
10.180.000 |
9.648.000 |
8.880.000 |
7.066.000 |
10.172.000 |
|
Total short and long term liabilities |
11.006.000 |
10.580.000 |
9.907.000 |
8.162.000 |
11.644.000 |
|
Total liabilities |
16.863.000 |
15.862.000 |
16.710.000 |
15.121.000 |
18.687.000 |
Summary
The total assets of the company increased with 6.31 % between
2011 and 2012.
Despite the assets growth, the non current assets
decreased with -7 %.
The asset growth has mainly been financed by a Net Worth
increase of 10.89 %. Debt,
however, grew with 4.03 %.
In 2012 the assets of the company were 36.62 % composed of
fixed assets and 63.38 % by
current assets. The assets are being financed by an equity
of 34.73 %, and total debt of
65.27 %.
The total assets of the company decreased with -5.07 %
between 2010 and 2011.
This total assets decrease has been reflected in a
reduction of non current assets of -3.45 %.
The asset reduction results in an equity decrease of
-22.36 %. Despite the decrease, the
indebtness increased with 6.79 %.
In 2011 the assets of the company were 41.86 % composed of
fixed assets and 58.14 % by
current assets. The assets are being financed by an equity
of 33.3 %, and total debt of 66.7
%.
Profit & Loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Gross
margin |
10.181.000 |
9.135.000 |
8.355.000 |
9.721.000 |
9.794.000 |
|
|
|||||
|
Wages
and salaries |
5.627.000 |
5.748.000 |
5.420.000 |
5.430.000 |
5.644.000 |
|
Amorization
and depreciation |
1.180.000 |
1.259.000 |
1.379.000 |
1.877.000 |
1.546.000 |
|
other
operating costs |
2.565.000 |
2.725.000 |
2.296.000 |
2.470.000 |
2.592.000 |
|
Operating
expenses |
9.372.000 |
9.732.000 |
9.095.000 |
9.777.000 |
9.782.000 |
|
Operating
result |
809.000 |
-597.000 |
-740.000 |
-56.000 |
12.000 |
|
Financial
income |
|
|
|
4.000 |
28.000 |
|
Financial
expenses |
44.000 |
81.000 |
32.000 |
44.000 |
231.000 |
|
Financial
result |
-44.000 |
-81.000 |
-32.000 |
-40.000 |
-203.000 |
|
Result
on ordinary operations before taxes |
765.000 |
-678.000 |
-772.000 |
-96.000 |
-191.000 |
|
Taxation
on the result of ordinary activities |
190.000 |
-157.000 |
-616.000 |
-12.000 |
-697.000 |
|
Result
of ordinary activities after taxes |
575.000 |
-521.000 |
-156.000 |
-84.000 |
506.000 |
|
Net
result |
575.000 |
-521.000 |
-156.000 |
-84.000 |
506.000 |
Summary
The gross profit of the company grew with 11.45 % between
2011 and 2012.
The operating result of the company grew with 235.51 %
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 206.32
% of the analysed period, being equal to 2011 % in the
year 2012.
The Net Result of the company decreased by 210.36 %
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
201.71 % of the analysed period, being 13.06 % in the year
2012.
The company's financial structure has slowed down its
financial profitability.
The gross profit of the company grew with 9.34 % between
2010 and 2011.
The operating result of the company grew with 19.32 %
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 7.58 %
of the analysed period, being equal to 2010 % in the year
2011.
The Net Result of the company increased by -233.97 %
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
-13.13 % of the analysed period, being -12.84 % in the
year 2011.
The company's financial profitability has been positively
affected by its financial structure.
Publications
Filings
17-03-2014: De jaarrekening over 2012 is gepubliceerd.
07-02-2013: De jaarrekening over 2011 is gepubliceerd.
02-03-2012: De jaarrekening over 2010 is gepubliceerd.
13-09-2010: De jaarrekening over 2008 is gepubliceerd.
Functions
14-11-2013: Per 31-10-2013 is bestuurder Joseph Hubertus
Anna Raymundus Schoonbrood uit functie getreden.
29-05-2013: Per 24-05-2013 is bestuurder Rogerius Hubertus
Windelinus Andreas Hamers uit functie getreden.
03-07-2012: Per 01-05-2012 is bestuurder Bartholomeus
Maria Eduard Winthagen in functie getreden.
03-07-2012: Per 01-05-2012 is gevolmachtigde Bartholomeus
Maria Eduard Winthagen uit functie getreden.
04-05-2012: Per 01-12-2011 is gevolmachtigde Robbert
Leonardus Bernardus Maria Cloin in functie getreden.
23-02-2012: Per 01-12-2011 is gevolmachtigde Hendrikus
Johannes Lemmens in functie getreden.
22-02-2012: Per 01-12-2011 is gevolmachtigde Nathalie
Germaine Klaui-von Dobschutz uit functie getreden.
16-02-2012: Per 01-01-2012 is gevolmachtigde Johannes
Gerardus Marie Schepers in functie getreden.
12-07-2011: Per 01-05-2011 is bestuurder Patrick Maria Felix
Van Orshaegen in functie getreden.
15-04-2011: Per 07-04-2011 is gevolmachtigde Jean Pierre
Marie Ramaekers uit functie getreden.
17-03-2011: Per 01-12-2010 is gevolmachtigde Nathalie
Germaine Klaui-von Dobschutz in functie getreden.
03-02-2011: Per 01-05-2009 is gevolmachtigde Guus
Berghmans uit functie getreden.
03-02-2011: Per 01-01-2011 is gevolmachtigde Ludovicus
Franciscus Marie Schoonbrood uit functie getreden.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.