MIRA INFORM REPORT
|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CALDIC NEDERLAND
B.V. |
|
|
|
|
Registered Office : |
Westerlaan 1, 3016CK Rotterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.01.1875 |
|
|
|
|
Com. Reg. No.: |
24124635 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale of chemical products. |
|
|
|
|
No. of Employees : |
44 |
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
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 |
Summary
Company name CALDIC
NEDERLAND B.V.
Operative address Westerlaan
1
3016CK Rotterdam
Netherlands
Legal form Private Company
Registration number KvK-nummer:
24124635
VAT-number 001573986
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
70.680.373 |
1,20 |
69.840.490 |
22,12 |
57.188.269 |
|
Total receivables |
111.528.451 |
-7,48 |
120.545.706 |
8,15 |
111.460.954 |
|
Total equity |
44.133.758 |
56,25 |
28.246.148 |
-71,62 |
99.527.214 |
|
Short term liabilities |
183.482.449 |
-14,57 |
214.780.651 |
92,67 |
111.475.925 |
|
Net result |
24.638.563 |
11,02 |
22.193.542 |
-5,66 |
23.525.002 |
|
Working capital |
-6.209.010 |
72,53 |
-22.599.257 |
-136,18 |
62.458.051 |
|
Quick ratio |
0,63 |
8,62 |
0,58 |
-43,69 |
1,03 |
Contact
information
Company name Caldic
Nederland B.V.
Trade names Caldic
Nederland B.V.
Operative address Westerlaan
1
3016CK Rotterdam
Netherlands
Correspondence address Westerlaan
1
3016CK Rotterdam
Netherlands
Telephone number 0104136420
Fax number 0104047458
Email address info@caldic.nl
Website www.caldic.com
Registration
Registration number KvK-nummer:
24124635
Branch number 000020134487
VAT-number 001573986
Status Active
Memorandum 1921-03-29
Establishment date 1875-01-01
Legal form Private Company
Last proposed admendment 2011-11-07
Activities
SBI Wholesale
of chemical basic materials and chemicals for the industry (46751)
Exporter No
Importer No
Goal Wholesale of chemical products.
Relations
Shareholders Caldic
B.V.
Blaak 22
3011TA Rotterdam
Netherlands
Registration number: 242484510000
Percentage: 100.00%
Companies on same address Amount: 17
Liability statements Caldic
B.V.
Blaak 22
3011TA Rotterdam
Netherlands
Registration number: 242484510000
date of issue: 1999-02-02
Starting date: 1999-02-02
Management
Active management Caldic
B.V.
Blaak 22
3011TA Rotterdam
Netherlands
Registration number: 242484510000
Competence: Fully authorized
Function: Manager
Starting date: 2006-11-24
C.W.A. Langschmidt (Cornelis Wilhelm Albert)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2010-11-01
Date of birth: 1967-10-26, Gemert, NL
T. van Vliet (Tom)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1991-05-01
Date of birth: 1959-11-17, Rotterdam, NL
Employees
Total according to the Chamber of Commerce 44
Year 2014
2012
Total 44
44
Payments
Description The
payments are slightly delayed
Key figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
|
Quick ratio |
0,63 |
0,58 |
1,03 |
0,95 |
1,66 |
|
|
Current ratio |
0,97 |
0,89 |
1,56 |
1,40 |
2,29 |
|
|
Working capital/ balance
total |
-0,03 |
-0,09 |
0,27 |
0,21 |
0,40 |
|
|
Equity / balance total |
0,18 |
0,11 |
0,43 |
0,37 |
0,58 |
|
|
Equity / Fixed assets |
0,62 |
0,40 |
1,74 |
1,44 |
2,07 |
|
|
Equity / liabilities |
0,22 |
0,12 |
0,77 |
0,67 |
1,43 |
|
|
Balance total /
liabilities |
1,23 |
1,13 |
1,79 |
1,82 |
2,44 |
|
|
Working capital |
-6.209.010 |
-22.599.257 |
62.458.051 |
51.518.000 |
70.440.530 |
|
|
Equity |
44.133.758 |
28.246.148 |
99.527.214 |
88.047.000 |
101.571.852 |
|
|
Mutation equity |
56,25 |
-71,62 |
13,04 |
-13,32 |
22,79 |
|
|
Mutation short term
liabilities |
-14,57 |
92,67 |
-12,68 |
133,11 |
-39,42 |
|
|
Return on total assets
(ROA) |
14,09 |
11,82 |
14,74 |
14,52 |
39,24 |
|
|
Return on equity (ROE) |
79,18 |
109,67 |
34,23 |
39,63 |
67,31 |
|
|
Gross profit margin |
5,16 |
5,07 |
5,68 |
6,27 |
17,85 |
|
|
Net profit margin |
3,39 |
3,46 |
3,77 |
4,40 |
12,99 |
|
|
Average collection ratio |
3,96 |
2,99 |
5,60 |
4,45 |
7,05 |
|
|
Average payment ratio |
6,51 |
5,33 |
5,61 |
5,11 |
5,01 |
|
|
Equity turnover ratio |
16,45 |
22,73 |
6,28 |
6,45 |
3,80 |
|
|
Total assets turnover
ratio |
2,93 |
2,45 |
2,70 |
2,36 |
2,22 |
|
|
Fixed assets turnover
ratio |
10,27 |
9,19 |
10,92 |
9,30 |
7,88 |
|
|
Inventory conversion ratio |
11,70 |
9,57 |
10,65 |
9,85 |
11,25 |
|
|
Turnover |
725.910.688 |
642.036.107 |
624.744.264 |
568.079.000 |
386.173.946 |
|
|
Gross margin |
|
|
131.666.157 |
|
|
|
|
Operating result |
37.455.390 |
32.570.886 |
35.492.582 |
35.622.000 |
68.930.182 |
|
|
Net result after taxes |
24.638.563
|
22.193.542
|
23.525.002
|
24.984.000 |
50.171.821 |
|
|
Cashflow |
|
|
33.906.363 |
|
|
|
|
Gross profit |
725.910.688 |
642.036.107 |
624.744.264 |
568.078.000 |
386.173.946 |
|
|
EBIT |
37.455.390 |
32.570.886 |
35.492.582 |
35.622.000 |
68.930.182 |
|
|
EBITDA |
|
|
45.873.943 |
|
|
|
Summary The 2013 financial
result structure is a negative working captial of -6.209.010 euro, which is in
agreement with -3 % of the total assets of the company.
The working capital has increased with 72.53
% compared to previous year. The ratio, with respect to the total assets of the
company has however, increased.
The improvement between 2012 and 2013 has
mainly been caused by an increase of the current assets.
The current ratio of the company in 2013 was
0.97. When the current ratio is below 1.5, the company may have problems
meeting its short-term obligations.
The quick ratio in 2013 of the company was
0.63. A company with a Quick Ratio of less than 1 cannot currently pay back its
current liabilities.
The 2012 financial result structure is a negative
working captial of -22.599.257 euro, which is in agreement with -9 % of the
total assets of the company.
The working capital has diminished with
-136.18 % compared to previous year. The ratio, with respect to the total
assets of the company has however, declined.
The deterioration between 2011 and 2012 has
mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2012 was
0.89. 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
0.58. 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 Caldic B.V.
Blaak 22
3011TA Rotterdam
Netherlands
Registration number: 242484510000
Balance
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Other tangible fixed
assets |
|
|
|
61.066.000 |
|
|
Tangible fixed assets |
67.735.064 |
69.840.490 |
57.188.269 |
61.066.000 |
49.021.932 |
|
Financial fixed assets |
2.945.309 |
|
|||
|
Fixed assets |
70.680.373 |
69.840.490 |
57.188.269 |
61.066.000 |
49.021.932 |
|
Other stock |
|
|
|
57.670.000 |
|
|
Total stock |
62.027.161 |
67.065.039 |
58.671.866 |
57.670.000 |
34.314.825 |
|
Accounts receivable |
106.512.943 |
112.136.312 |
103.826.714 |
101.726.000 |
71.426.694 |
|
Other receivables |
5.015.508 |
8.409.394 |
7.634.240 |
9.346.000 |
5.677.794 |
|
Total receivables |
111.528.451 |
120.545.706 |
111.460.954 |
111.072.000 |
77.104.488 |
|
Liquid funds |
3.717.827 |
4.570.649 |
3.801.156 |
10.445.000 |
13.788.891 |
|
accruals |
|
|
|
9.346.000 |
|
|
Current assets |
177.273.439 |
192.181.394 |
173.933.976 |
179.186.000 |
125.208.204 |
|
Total assets |
247.953.812 |
262.021.884 |
231.122.245 |
240.252.000 |
174.230.136 |
|
Other reserves |
|
|
|
88.047.000 |
|
|
Total reserves |
|
|
|
88.047.000 |
|
|
Minority interests |
2.060.422 |
2.230.391 |
2.318.019 |
1.753.000 |
1.389.979 |
|
Total equity |
44.133.758 |
28.246.148 |
99.527.214 |
88.047.000 |
101.571.852 |
|
Provisions |
18.277.183 |
16.764.694 |
17.801.087 |
18.225.000 |
16.083.260 |
|
Long term interest
yielding debt |
|
|
|
|
417.371 |
|
Other long term
liabilities |
|
|
|
4.560.000 |
|
|
Long term liabilities |
|
|
4.560.000 417.371 |
||
|
Accounts payable |
63.510.267 |
54.331.961 |
46.495.730 |
53.493.000 |
35.995.104 |
|
Other short term
liabilities |
119.972.182 |
160.448.690 |
64.980.195 |
74.174.000 |
18.772.570 |
|
Short term liabilities |
183.482.449 |
214.780.651 |
111.475.925 |
127.668.000 |
54.767.674 |
|
Total short and long term liabilities |
201.759.632 |
231.545.345 |
129.277.012 |
132.228.000 |
71.268.305 |
|
Total liabilities |
247.953.812 |
262.021.884 |
231.122.245 |
240.252.000 |
174.230.136 |
Summary The total
assets of the company decreased with -5.37 % between 2012 and 2013.
Despite the total assets decrease, non
current assets grew with 1.2 %.
The asset reduction is in contrast with the equity
growth of 56.25 %. Due to this the total debt decreased with -12.86 %.
In 2013 the assets of the company were 28.51
% composed of fixed assets and 71.49 % by current assets. The assets are being
financed by an equity of 17.8 %, and total debt of 82.2 %.
The total assets of the company increased
with 13.37 % between 2011 and 2012.
The total asset increase is retrievable in
the fixed asset growth of 22.12 %.
Asset growth is in contrasts with the net
worth decline of -71.62 %. The company's indebtedness has, therefore, increased
with 79.11 %.
In 2012 the assets of the company were 26.65
% composed of fixed assets and 73.35 % by current assets. The assets are being
financed by an equity of 10.78 %, and total debt of 89.22 %.
Profit and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
729.055.243 |
644.542.572 |
626.793.700 |
570.526.000 |
438.567.140 |
|
Other operating income |
3.144.555 |
2.506.465 |
2.049.436 |
2.448.000 |
52.393.194 |
|
Net turnover |
725.910.688 |
642.036.107 |
624.744.264 |
568.079.000 |
386.173.946 |
|
Gross margin |
|
|
131.666.157 |
|
|
|
Wages and salaries |
|
|
52.985.650 |
|
|
|
Amorization and depreciation |
|
|
10.381.361 |
|
|
|
Sales |
|
|
493.078.107 |
|
|
|
other operating costs |
|
|
34.856.000 |
534.905.000 |
|
|
Operating expenses |
691.599.853 |
611.971.686 |
591.301.118 |
534.905.000 |
369.636.958 |
|
Operating result |
37.455.390 |
32.570.886 |
35.492.582 |
35.622.000 |
68.930.182 |
|
Financial income |
101.217 |
388.910 |
797.539 |
895.000 |
521.636 |
|
Financial expenses |
2.611.558 |
1.981.054 |
2.220.422 |
1.624.000 |
1.087.990 |
|
Financial result |
-2.510.341 |
-1.592.144 |
-1.422.883 |
-729.000 |
-566.354 |
|
Result on ordinary
operations before taxes |
34.945.049 |
30.978.742 |
34.069.699 |
34.893.000 |
68.363.828 |
|
Taxation on the result of
ordinary activities |
9.953.187 |
8.846.202 |
10.268.967 |
9.716.000 |
17.905.301 |
|
Result of ordinary
activities after taxes |
24.991.862 |
22.132.540 |
23.800.732 |
25.177.000 |
50.458.527 |
|
Net result |
24.638.563 |
22.193.542 |
23.525.002 |
24.984.000 |
50.171.821 |
|
Attributable to third
parties |
353.299 |
-61.002 |
275.730 |
-193.000 |
286.706 |
Summary The
turnover of the company grew with 13.06 % between 2012 and 2013.
The operating result of the company grew
with 15 % between 2012 and 2013. 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 19.2 % of the analysed period, being
equal to 2012 % in the year 2013.
This growth has contributed to the increase
in assets turnover, increasing by 19.59 % reaching 2.93.
The Net Result of the company decreased by
11.02 % between 2012 and 2013.
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 -27.8
% of the analysed period, being 79.18 % in the year 2013.
The company's financial profitability has
been positively affected by its financial structure.
The turnover of the company grew with 2.77 %
between 2011 and 2012.
The operating result of the company declined
with -8.23 % 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 -19.81 % of the analysed period,
being equal to 2011 % in the year 2012.
This fall has contributed to a asset
turnover decrease, whose index evolved from -9.26 to a level of 2.45.
The Net Result of the company increased by
-5.66 % 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
220.39 % of the analysed period, being 109.67 % in the year 2012.
The company's financial structure has slowed
down its financial profitability.
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 109662 of the companies
are registered with the SBI code 46
In the region Groot Rotterdam 8969 of the
companies are registered with the SBI code 46
In the Netherlands 2387 of the bankrupcties
are published within this sector
In the region Groot Rotterdam 231 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 07-04-2014:
Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd.
20-06-2013: Voor boekjaar 2012 is een
instemmingsverklaring gedeponeerd.
01-08-2012: Voor boekjaar 2011 is een
instemmingsverklaring gedeponeerd.
10-06-2011: Voor boekjaar 2010 is een
instemmingsverklaring gedeponeerd.
28-07-2010: Voor boekjaar 2009 is een
instemmingsverklaring gedeponeerd.
Functions 29-11-2013: Per 01-11-2013
is gevolmachtigde Maurits Leendert Blok uit functie getreden.
02-07-2013: Per 01-07-2013 is gevolmachtigde
Eric Gabriël Jilles de Waal uit functie
getreden.
12-01-2012: Per 31-12-2011 is bestuurder
Philip Pieter Kock uit functie getreden.
13-01-2011: Per 01-06-2010 is gevolmachtigde
Philip Pieter Kock uit functie getreden.
17-12-2010: Per 01-11-2010 is bestuurder
Cornelis Wilhelm Albert Langschmidt in functie
getreden.
23-09-2010: Per 01-06-2010 is gevolmachtigde
Maurits Leendert Blok in functie getreden.
Amendments 08-11-2011:
Geplaatst kapitaal gewijzigd in EUR 681.000,00 Gestort kapitaal gewijzigd in
EUR 681.000,00.
08-11-2011: Per 7-11-2011 statuten
gewijzigd.
Company
structure
Relations 12
Eikenbosch Holding B.V.
Buurtweg 90
2244AG WASSENAAR
Netherlands
Registration number: 271531150000
• Caldic B.V.
Blaak 22
3011TA Rotterdam
Netherlands
Registration number: 242484510000
• Caldic Nederland B.V.
Westerlaan 1
3016CK Rotterdam
Netherlands
Registration number: 241246350000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
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.