MIRA
INFORM REPORT
|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOXON STAINLESS
B.V. |
|
|
|
|
Registered Office : |
Vossenbeemd 51, 5705CL Helmond |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.06.1990 |
|
|
|
|
Com. Reg. No.: |
17069403 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale of stainless
steel products and related
items |
|
|
|
|
No. of Employees : |
81 |
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 : |
Slow but correct |
|
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 NOXON
STAINLESS B.V.
Operative address Vossenbeemd
51
5705CL Helmond
Netherlands
Legal form Private Company
Registration number KvK-nummer:
17069403
VAT-number 008537343
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
1.129.000 |
-23,97 |
1.485.000 |
-21,09 |
1.882.000 |
|
Total receivables |
4.778.000 |
-17,15 |
5.767.000 |
-8,76 |
6.321.000 |
|
Total equity |
4.398.000 |
5,82 |
4.156.000 |
7,95 |
3.850.000 |
|
Short term liabilities |
12.705.000 |
-18,14 |
15.520.000 |
4,51 |
14.850.000 |
|
Net result |
242.000 |
-20,92 |
306.000 |
115,51 |
-1.973.000 |
|
Working capital |
3.651.000 |
14,42 |
3.191.000 |
20,87 |
2.640.000 |
|
Quick ratio |
0,38 |
2,70 |
0,37 |
-13,95 |
0,43 |
Contact information
Company name Noxon
Stainless B.V.
Trade names Noxon
Stainless B.V.
Operative address Vossenbeemd
51
5705CL Helmond
Netherlands
Correspondence address Postbus
6096
5700ET Helmond
Netherlands
Telephone number 0492582111
Fax number 0492538970
Email address info@noxonstainless.nl
Website www.noxon.nl
Registration
Registration number KvK-nummer:
17069403
Branch number 000017851777
VAT-number 008537343
Status Active
First registration company register 1991-09-17
Memorandum 1991-07-18
Establishment date 1990-06-21
Legal form Private Company
Last proposed admendment 2012-11-23
Activities
SBI Wholesale
of ferrous metals and ferrous semi-finished products (46722)
ISO certified Yes
Exporter No
Importer No
Branche organisations Vereniging
FME-CWM
Goal Wholesale of stainless steel products
and related items
Relations
Companies on same address Noxon
Personeelsvereniging
Registration
number: 544229810000
Management
Active management T.R.A.
Philippe (Thierry Robert Arthur)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2012-11-23
Date of birth: 1975-07-02, Toulouse, FR
S. Muller-Bernhardt (Stefan)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2012-11-23
Date of birth: 1965-06-22, München, NL
E.M. Jacquet (Eric Michel)
Netherlands
Function: Commissaris
Starting date: 2010-07-01
Date of birth: 1959-01-09, Lyon, FR
P. Goczol (Philippe)
Netherlands
Function: Commissaris
Starting date: 2010-07-01
Date of birth: 1965-12-05, Mons, BE
P.M.P. de Groot (Paulus Martinus Petrus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-10-28
Date of birth: 1969-01-27, Asten, NL
M. Dankers (Mark)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-10-28
Date of birth: 1972-12-26, Helmond, NL
Employees
Total according to the Chamber of Commerce 81
Year 2014 2013 2012 2011
2010
Total 81 81 25
25 25
Payments
Description Payments
made under regular condition
Key figures
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick ratio |
0,38 |
0,37 |
0,43 |
0,51 |
0,71 |
|
Current ratio |
1,29 |
1,21 |
1,18 |
1,49 |
2,16 |
|
Working capital/ balance
total |
0,21 |
0,16 |
0,14 |
0,29 |
0,47 |
|
Equity / balance total |
0,25 |
0,21 |
0,20 |
0,34 |
0,51 |
|
Equity / Fixed assets |
3,90 |
2,80 |
2,05 |
3,33 |
4,22 |
|
Equity / liabilities |
0,34 |
0,26 |
0,26 |
0,52 |
1,04 |
|
Balance total /
liabilities |
1,34 |
1,26 |
1,29 |
1,52 |
2,04 |
|
Working capital |
3.651.000 |
3.191.000 |
2.640.000 |
5.024.246 |
9.147.172 |
|
Equity |
4.398.000 |
4.156.000 |
3.850.000 |
5.823.458 |
9.870.344 |
|
Mutation equity |
5,82 |
7,95 |
-33,89 |
-41,00 |
17,66 |
|
Mutation short term
liabilities |
-18,14 |
4,51 |
43,86 |
31,15 |
-41,87 |
|
Return on total assets
(ROA) |
1,85 |
2,02 |
-13,77 |
-34,01 |
7,74 |
|
Return on equity (ROE) |
7,34 |
9,82 |
-69,27 |
-99,82 |
15,17 |
|
Gross profit margin |
1,52 |
1,71 |
-5,71 |
-23,18 |
-0,63 |
|
Net profit margin |
0,56 |
0,69 |
-4,97 |
-17,14 |
3,59 |
|
Average collection ratio |
3,39 |
2,87 |
2,67 |
2,36 |
5,73 |
|
Average payment ratio |
9,00 |
7,72 |
6,28 |
4,67 |
8,18 |
|
Equity turnover ratio |
9,78 |
10,71 |
10,31 |
4,19 |
4,57 |
|
Total assets turnover
ratio |
2,46 |
2,20 |
2,05 |
1,43 |
2,33 |
|
Fixed assets turnover
ratio |
38,10 |
29,97 |
21,09 |
13,97 |
19,30 |
|
Inventory conversion ratio |
3,72 |
3,44 |
3,56 |
2,42 |
3,95 |
|
Turnover |
43.020.000 |
44.510.000 |
39.689.000 |
24.404.364 |
45.134.615 |
|
Gross margin |
9.210.000 |
9.849.000 |
|
2.339.114 |
7.219.146 |
|
Operating result |
655.000 |
759.000 |
-2.267.000 |
-5.657.761 |
-283.134 |
|
Net result after taxes |
242.000 |
306.000 |
-1.973.000 |
-4.183.498 |
1.618.374 |
|
Cashflow |
483.000 |
600.000 |
-1.412.000 |
-3.766.510 |
2.026.295 |
|
Gross profit |
|
|
39.689.000 |
|
|
|
EBIT |
655.000 |
759.000 |
-2.267.000 |
-5.657.761 |
-283.134 |
|
EBITDA |
896.000 |
1.053.000 |
-1.706.000 |
-5.240.773 |
124.787 |
Summary The 2012 financial result
structure is a postive working captial of 3.651.000 euro, which is in agreement
with 21 % of the total assets of the company.
The working capital has increased with 14.42
% 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
1.29. 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
0.38. 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 3.191.000 euro, which is in agreement with 16 % of
the total assets of the company.
The working capital has increased with 20.87
% 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 an increase of the current assets.
The current ratio of the company in 2011 was
1.21. 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
0.37. 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 Noxon
Stainless B.V.
Vossenbeemd 51
5705CL Helmond
Netherlands
Registration number: 170694030000
Balance
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Other tangible fixed
assets |
|
|
1.110.000 |
|
|
|
Tangible fixed assets |
598.000 |
818.000 |
1.110.000 |
1.607.705 |
2.016.888 |
|
Other financial fixed
assets |
|
|
773.000 |
|
|
|
Financial fixed assets |
531.000 |
667.000 |
773.000 |
138.720 |
322.293 |
|
Fixed assets |
1.129.000 |
1.485.000 |
1.882.000 |
1.746.425 |
2.339.181 |
|
Other stock |
|
|
11.154.000 |
|
|
|
Total stock |
11.577.000 |
12.932.000 |
11.154.000 |
10.095.983 |
11.439.330 |
|
Accounts receivable |
4.350.000 |
5.480.000 |
5.814.000 |
3.081.994 |
5.019.800 |
|
Other receivables |
428.000 |
287.000 |
507.000 |
2.147.122 |
497.099 |
|
Total receivables |
4.778.000 |
5.767.000 |
6.321.000 |
5.229.116 |
5.516.899 |
|
Liquid funds |
1.000 |
12.000 |
15.000 |
21.935 |
61.753 |
|
accruals |
|
|
507.000 |
|
|
|
Current assets |
16.356.000 |
18.711.000 |
17.490.000 |
15.347.034 |
17.017.982 |
|
Total assets |
17.485.000 |
20.196.000 |
19.373.000 |
17.093.459 |
19.357.163 |
|
Issued capital |
2.632.000 |
2.632.000 |
2.632.000 |
2.631.925 |
2.631.925 |
|
Other reserves |
1.766.000 |
1.524.000 |
1.218.000 |
3.191.533 |
7.238.419 |
|
Total reserves |
1.766.000 |
1.524.000 |
1.218.000 |
3.191.533 |
7.238.419 |
|
Total equity |
4.398.000 |
4.156.000 |
3.850.000 |
5.823.458 |
9.870.344 |
|
Provisions |
382.000 |
415.000 |
462.000 |
620.719 |
789.084 |
|
Long term interest
yielding debt |
|
105.000 |
|
326.494 |
826.925 |
|
Other long term
liabilities |
|
|
210.000 |
|
|
|
Long term liabilities |
|
105.000 |
210.000 |
326.494 |
826.925 |
|
Accounts payable |
3.009.000 |
6.933.000 |
3.846.000 |
3.806.501 |
4.018.167 |
|
Other short term
liabilities |
9.696.000 |
8.587.000 |
11.005.000 |
6.516.287 |
3.852.643 |
|
Short term liabilities |
12.705.000 |
15.520.000 |
14.850.000 |
10.322.788 |
7.870.810 |
|
Total short and long term liabilities |
13.087.000 |
16.040.000 |
15.060.000 |
11.270.001 |
9.486.819 |
|
Total liabilities |
17.485.000 |
20.196.000 |
19.373.000 |
17.093.459 |
19.357.163 |
Summary The
total assets of the company decreased with -13.42 % between 2011 and 2012.
This downturn is mainly retrievable in the
fixed asset decrease of -23.97 %.
The asset reduction is in contrast with the
equity growth of 5.82 %. Due to this the total debt
decreased with -18.41 %.
In 2012 the assets of the company were 6.46
% composed of fixed assets and 93.54 % by
current assets. The assets are being
financed by an equity of 25.15 %, and total debt of
74.85 %.
The total assets of the company increased
with 4.25 % between 2010 and 2011.
Despite the assets growth, the non current
assets decreased with -21.09 %.
The asset growth has mainly been financed by
a Net Worth increase of 7.95 %. Debt,
however, grew with 6.51 %.
In 2011 the assets of the company were 7.35
% composed of fixed assets and 92.65 % by
current assets. The assets are being
financed by an equity of 20.58 %, and total debt of
79.42 %.
Profit and loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
43.020.000 |
44.510.000 |
39.689.000 |
24.404.364 |
45.134.615 |
|
Net turnover |
43.020.000 |
44.510.000 |
39.689.000 |
24.404.364 |
45.134.615 |
|
Gross margin |
9.210.000 |
9.849.000 |
|
2.339.114 |
7.219.146 |
|
Wages and salaries |
3.938.000 |
4.635.000 |
5.615.000 |
3.710.732 |
2.781.854 |
|
Amorization and
depreciation |
241.000 |
294.000 |
561.000 |
416.988 |
407.921 |
|
Sales |
33.810.000 |
34.661.000 |
|
22.065.250 |
37.915.469 |
|
other operating costs |
4.376.000 |
4.161.000 |
5.071.000 |
3.869.155 |
4.312.505 |
|
Raw materials and
consumables |
|
|
30.709.000 |
|
|
|
Operating expenses |
42.365.000 |
43.751.000 |
41.956.000 |
30.062.125 |
45.417.749 |
|
Result in subsidiaries |
|
|
|
|
2.128.955 |
|
Operating result |
655.000 |
759.000 |
-2.267.000 |
-5.657.761 |
-283.134 |
|
Financial income |
|
161.000 |
129.000 |
|
|
|
Financial expenses |
332.000 |
512.000 |
528.000 |
155.380 |
|
|
Financial result |
-332.000 |
-351.000 |
-400.000 |
-155.380 |
-348.524 |
|
Result on ordinary operations before taxes |
323.000 |
408.000 |
-2.667.000 |
-5.813.141 |
1.497.297 |
|
Taxation on the result of
ordinary activities |
81.000 |
102.000 |
-657.000 |
-1.629.643 |
-121.077 |
|
Result of ordinary activities after taxes |
242.000 |
306.000 |
-2.009.000 |
-4.183.498 |
1.618.374 |
|
Extraordinary income |
|
|
36.000 |
|
|
|
Extraordinary result after
taxation |
|
|
36.000 |
|
|
|
Net result |
242.000 |
306.000 |
-1.973.000 |
-4.183.498 |
1.618.374 |
Summary The
turnover of the company decreased by -3.35 % between 2011 and 2012.
The gross profit of the company decreased by
-6.49 % between 2011 and 2012.
The operating result of the company declined
with -13.7 % 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 -8.42 % of the analysed period,
being equal to 2011 % in the year 2012.
Despite the decline the assets turnover
increased by 11.82 % reaching 2.46.
The Net Result of the company increased by
-20.92 % 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 -25.25
% of the analysed period, being 7.34 % in the year 2012.
The company's financial profitability has been
positively affected by its financial structure.
The turnover of the company grew with 12.15
% between 2010 and 2011.
The operating result of the company grew
with 133.48 % 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 114.67 % of the analysed period,
being equal to 2010 % in the year 2011.
This growth has contributed to the increase
in assets turnover, increasing by 7.32 % reaching 2.2.
The Net Result of the company decreased by
115.51 % 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
114.18 % of the analysed period, being 9.82
% in the year 2011.
The company's financial structure has slowed
down its financial profitability.
Analysis
Branch (SBI) Wholesale
trade (no motor vehicles and motorcycles) (46)
Region Zuid-Oost-Brabant
In the Netherlands 109662 of the companies
are registered with the SBI code 46
In the region Zuid-Oost-Brabant 5034 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 Zuid-Oost-Brabant 97 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 06-08-2013:
De jaarrekening over 2012 is gepubliceerd.
14-11-2012: De jaarrekening over 2011 is
gepubliceerd.
08-08-2011: De jaarrekening over 2010 is
gepubliceerd.
25-01-2011: De jaarrekening over 2009 is gepubliceerd.
15-02-2010: De jaarrekening over 2008 is
gepubliceerd.
Functions 04-11-2013: Per
28-10-2013 is gevolmachtigde Mark Dankers in functie getreden.
29-10-2013: Per 28-10-2013 is gevolmachtigde
Paulus Martinus Petrus de Groot in functie getreden.
24-10-2013: Per 10-10-2013 is bestuurder
Antonius Cornelis Elisabeth van der Heijden uit functie getreden.
03-12-2012: Per 23-11-2012 is commissaris
Thierry Robert Arthur Philippe uit functie getreden.
27-11-2012: Per 23-11-2012 is bestuurder
Stefan Muller-Bernhardt in functie getreden.
27-11-2012: Per 23-11-2012 is bestuurder
Thierry Robert Arthur Philippe in functie getreden.
31-01-2012: Per 19-01-2012 is gevolmachtigde
Cornelis Nicolaas van Lieshout uit functie getreden.
31-01-2012: Per 19-01-2012 is gevolmachtigde
Léon Gerardus Antonius Honings uit functie getreden.
31-01-2012: Per 31-01-2012 is gevolmachtigde
Arie Buis uit functie getreden.
31-01-2012: Per 31-01-2012 is gevolmachtigde
Peter Christiaan Kom uit functie getreden.
27-09-2010: Per 01-07-2010 is commissaris
Thierry Robert Arthur Philippe in functie getreden.
27-09-2010: Per 01-07-2010 is commissaris
Philippe Goczol in functie getreden.
27-09-2010: Per 01-07-2010 is commissaris
Eric Michel Jacquet in functie getreden.
27-09-2010: Per 01-07-2010 is commissaris
Philippe Georges Brun uit functie getreden.
27-09-2010: Per 01-07-2010 is commissaris
Pierre-Yves Marie Le Daëron uit functie getreden.
12-05-2010: Per 01-05-2010 is gevolmachtigde
Léon Gerardus Antonius Honings in functie getreden.
Amendments 27-11-2012:
Geplaatst kapitaal gewijzigd in EUR 2.610.000,00 Gestort kapitaal gewijzigd in
EUR 2.610.000,00.
27-11-2012: Per 23-11-2012 is de bevoegdheid
van Bestuurder Antonius Cornelis Elisabeth van der Heijden gewijzigd.
27-11-2012: Per 23-11-2012 statuten
gewijzigd.
Company structure
Relations 2
IMS International Metal service
Le Carr
92733 Nanterre
France
• Noxon Stainless B.V.
Vossenbeemd 51
5705CL Helmond
Netherlands
Registration number: 170694030000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
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.