MIRA
INFORM REPORT
|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NESTE OIL NV |
|
|
|
|
Registered Office : |
Industrieweg 154, 3583 Beringen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.11.1993 |
|
|
|
|
Com. Reg. No.: |
451251225 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer
of Industrial Gases |
|
|
|
|
No of Employees : |
26 (31.12.2012) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Belgium |
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 |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized
on its central geographic location, highly developed transport network, and
diversified industrial and commercial base. Industry is concentrated mainly in
the more heavily-populated region of Flanders in the north. With few natural
resources, Belgium imports substantial quantities of raw materials and exports
a large volume of manufactures, making its economy vulnerable to volatility in
world markets. Roughly three-quarters of Belgium's trade is with other EU
countries, and Belgium has benefited most from its proximity to Germany. In
2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from
7.6% the previous year, and the government reduced the budget deficit from a
peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in
Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that
has contributed to investor perceptions that the country is increasingly
vulnerable to spillover from the euro-zone crisis. Belgian banks were severely
affected by the international financial crisis in 2008 with three major banks
receiving capital injections from the government, and the nationalization of
the Belgian retail arm of a Franco-Belgian bank
|
Source
: CIA |
Company summary
|
Business number |
451251225 |
|
Company name |
NESTE OIL NV |
|
Address |
INDUSTRIEWEG 154 |
|
|
3583 BERINGEN |
|
Number of staff |
26 (31.12.2012) |
|
Date of establishment |
17/11/1993 |
|
Telephone number |
011459511 |
|
Fax number |
011459512 |
Ultimate holding company
Company name
FORTUM OIL
OY
Commentary
|
The
business was established over 20 years ago. |
|
|
The
business has 26 employees. |
|
|
The
business is part of a group. |
|
|
The
business has been at the address for over 11 years. |
|
|
Operating
Result in the latest trading period decreased 86% on the previous trading
period. |
|
|
Pre-tax
profits decreased by 57% compared to the previous trading period. |
|
|
The
business saw a decrease in their Cash Balance of 50% during the latest
trading period. |
|
Accounts
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
667,940 |
1 5,193,190 |
575,921,323 |
1 56,962,017 |
|
31/12/2011 |
50,376,047 |
35,374,127 |
560,728,661 |
1 97,058,377 |
|
31/12/2010 |
56,704,908 |
34,015,653 |
1,115,939,780 |
414,039,918 |
Accounts
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
578,349,079 |
26 |
401,480,499 |
1 5,321,412 |
|
31/12/2011 |
564,755,988 |
25 |
401,480,499 |
45,021,458 |
|
31/12/2010 |
1,127,177,349 |
63 |
1,001,480,499 |
35,887,717 |
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
|
Industry average payment 60.12 |
|
expectation days |
|
|
|
Day sales outstanding 1435.67 |
|
|
|
Payment expectation days 26938.58 |
|
|
|
Industry average day sales 105.92 |
|
outstanding |
Court
data summary
|
BANKRUPTCY DETAILS |
|
Court action type no |
Company information
|
Business number |
451251225 |
Company name |
NESTE
OIL NV |
|
Fax number |
011459512 |
Date founded |
17/11/1993 |
|
Company status |
active |
Company type |
Public
Limited Liability Company (BE) |
|
Currency |
Euro
(€) |
Date of latest accounts |
31/12/2012 |
|
Activity code |
20110 |
Liable for VAT |
yes |
|
Activity description |
Manufacturer of industrial gases |
VAT Number |
BE.0451.251.225
Check VAT number |
|
Belgian Bullettin of Acts
Publications |
moniteur
belge |
|
|
Social
Balance Sheet Details
Social Balance Sheet Total
During the reporting
year ended 31-12-2012
Full-time Employees 22
Part-time Employees 6
Total Fte Employees 26
Number of hours
worked
Full-time Employees 35,805
Part-time Employees 5,642
Total 41,447
Personnel Charges
Full-time Employees 2,755,950
Part-time Employees 265,340
Total 3,021,290
Benefits In Addition
To Wages 16,566
During the previous
reporting year
Average number
employees in Fte 60
Actual working hours 92,712
Personnel Charges 5,920,946
Benefits In Addition
To Wages 37,554
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
22 |
5 |
25 |
|
Limited Duration Contracts |
1 |
- |
1 |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding Substitution |
- |
- |
- |
|
|
|||
|
Gender and Education Level |
|||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondary education |
2 |
- |
2 |
|
Higher education (non university) |
3 |
- |
3 |
|
Higher education (university) |
8 |
- |
8 |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondary education |
- |
- |
- |
|
Higher education (non university) |
10 |
5 |
13 |
|
Higher education (university) |
- |
- |
- |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
22 |
5 |
25 |
|
Blue collar worker |
1 |
- |
1 |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary personnel |
|
Total |
|
|
Average number of temporary staff |
2 |
|
|
|
Actual working hours |
|
4,226 |
|
|
Cost of temporary staff |
|
105,540 |
|
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
3 |
- |
3 |
|
Leavers |
2 |
1 |
3 |
|
|
|
|
|
|
Total of formal continuing vocational training
initiatives |
|
|
|
|
for workers paid by the employer |
Male |
Female |
|
|
Number of employees |
11 |
15 |
|
|
Number of training hours |
547 |
214 |
|
|
Net costs for enterprise |
40,482 |
14,099 |
|
|
Total of less formal and informal continuing
vocational training initiatives for workers paid by the employer |
Male |
Female |
|
|
Number of employees |
10 |
18 |
|
|
Number of training hours |
164 |
173 |
|
|
Net costs for enterprise |
8,432 |
7,522 |
|
Joint
Industrial Committee
(JIC)
|
JIC Code |
116 |
|
Description |
Joint committee for the
chemical industry |
|
category |
|
JIC Code 207
Description
Joint committee for the employees off he chemical
industry
Significant
Events
Event Date 05/11/2013
Event Description authority appointed
Event Details Commentaar 05-11-2013: Vertegenwoordigingsrecht
wordt toegekend aan Danny
Wouters voor het tekenen van
contracten in naam van Neste Oli NV tesamen met andere
volmachtdragers of met een lid
van de raad van bestuur, zoals vermeldt in het bes
Event Date 05/11/2013
Event Description authority appointed
Event Details luit van de raad van bestuur gehouden op 3 november
2011. Bankvolmacht wordt
toegekend aan Danny Wouters voor transacties tot
een limiet van 5000 Euro. Transacties
boven de 5000 Euro vereist een gezamenlijke
ondertekening willekeurig 2 aan
Event Date 05/11/2013
Event Description authority appointed
Event Details 2 met de andere volmachtdragers.
COMPANY ACCOUNTS
Comparison Mode
·
Average Median Export
accounts to CSV File
Profit
& Loss
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
667,940 |
-98.67 |
50,376,047 |
-11.16 |
56,704,908 |
81,237,999 |
-99 |
|
Total
operating expenses |
25,367 |
-99 |
45,730,313 |
-13.79 |
53,042,980 |
79,051,41
3 |
-99 |
|
Operating
result |
642,573 |
-86.17 |
4,645,734 |
26.87 |
3,661,928 |
1,219,715 |
-47.32 |
|
Total
financial income |
21,269,163 |
-53.09 |
45,337,870 |
1
0.68 |
40,963,746 |
1,146,188 |
1755 |
|
Total
financial expenses |
6,718,546 |
-54.01 |
14,609,477 |
37.70 |
10,610,021 |
880,325 |
663 |
|
Results
on ordinary operations before taxation |
15,193,190 |
-57.05 |
35,374,127 |
3.99 |
34,015,653 |
1,479,394 |
926 |
|
Taxation |
- |
- |
-17,713 |
-125 |
70,116 |
390,523 |
- |
|
Results
on ordinary operations after taxation |
15,193,190 |
-57.07 |
35,391,840 |
4.26 |
33,945,537 |
1,188,772 |
1178 |
|
Extraordinary
items |
-528 |
-100 |
9,397,041 |
- |
0 |
1,433,857 |
-100 |
|
Other
appropriations |
0.00 |
- |
0 |
- |
0 |
- |
- |
|
Net
result OTHER INFORMATION |
15,192,663 |
-66.08 |
44,788,881 |
31.94 |
33,945,537 |
2,621,697 |
479 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
247,180 |
- |
|
Dividends |
- |
- |
- |
- |
- |
390,316 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
76,791 |
- |
|
Employee
costs |
3,034,738 |
-48.82 |
5,929,583 |
-1.84 |
6,040,478 |
8,390,154 |
-63.83 |
|
Wages and salary |
2,186,684 |
-46.44 |
4,082,747 |
-5.39 |
4,315,124 |
5,949,176 |
-63.24 |
|
Employee pension costs |
13,449 |
- |
8,637 |
- |
5,117 |
401,593 |
-96.65 |
|
Social security contributions |
547,045 |
-58.71 |
1,324,733 |
9.46 |
1,210,258 |
1,605,724 |
-65.93 |
|
Other employee costs |
287,560 |
-44.00 |
513,467 |
0.68 |
509,979 |
554,703 |
-48.16 |
|
Amortization
and depreciation |
128,749 |
-44.64 |
232,577 |
-88.02 |
1,942,180 |
1,796,498 |
-92.83 |
Balance
Sheet
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
909,181 |
-100 |
|
Tangible
fixed assets |
429,961 |
-21.70 |
549,088 |
-94.66 |
1
0,277,276 |
12,067,938 |
-96.44 |
|
Land & building |
354,231 |
-13.97 |
411,774 |
-91.46 |
4,820,439 |
3,781,470 |
-90.63 |
|
Plant & machinery |
60,697 |
-32.32 |
89,684 |
-98.21 |
5,019,138 |
7,511,667 |
-99 |
|
Furniture & Vehicles |
15,033 |
5.46 |
14,255 |
-47.32 |
27,060 |
433,178
28,508 |
-96.53 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
1,065,608
123,736 |
- |
|
Other tangible assets |
0 |
-100 |
33,375 |
-91.87 |
410,639 |
2,339,707 |
-100 |
|
Financial
fixed assets |
418,627,969 |
15.25 |
363,231,136 |
-47.49 |
691,763,392 |
24,860,657 |
1583 |
|
Total
fixed assets |
41
9,057,930 |
15.20 |
363,780,225 |
-48.18 |
702,040,668 |
30,773,603 |
1261 |
|
Inventories |
- |
- |
- |
- |
2,647,108 |
8,640,250 |
- |
|
Raw
materials & consumables |
- |
- |
- |
- |
2,305,276 |
4,862,453 |
- |
|
Work in progress |
0 |
- |
0 |
-100 |
341,831 |
310,761 |
-100 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
3,693,326 |
-100 |
|
Other stocks |
0 |
- |
0 |
-100 |
1 |
89,447 |
-100 |
|
Trade
debtors |
2,627,230 |
70.09 |
1,544,577 |
-77.34 |
6,816,102 |
7,441,105 |
-64.69 |
|
Cash |
75,057,577 |
-50.73 |
1
52,335,638 |
-27.34 |
209,643,747 |
4,034,829 |
1760 |
|
other
amounts receivable |
22,806,342 |
313 |
5,515,906 |
-96.75 |
169,862,838 |
1
0,750,196 |
112 |
|
Miscellaneous
current assets |
58,800,000 |
41.42 |
41,579,642 |
14.97 |
36,166,886 |
2,134,434 |
2654 |
|
Total
current assets |
159,291,149 |
-20.74 |
200,975,763 |
-52.73 |
425,136,681 |
29,397,235 |
441 |
|
Total
Assets |
578,349,079 |
2.41 |
564,755,988 |
-49.90 |
1,127,177,349 |
56,474,543
1,422,067 |
924 |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Trade
creditors |
1,872,231 |
-40.05 |
3,122,777 |
-66.98 |
9,456,172 |
6,962,582 |
-73.11 |
|
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial
debts |
- |
- |
- |
- |
- |
5,887,973 513,283 |
- |
|
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
461,659 53,670 |
- |
|
|
Amounts
Payable for Taxes, Remuneration & Social Security |
456,901 |
-42.50 |
794,609 |
-51.57 |
1,640,591 |
189,762 |
-80.89 |
|
|
Miscellaneous
current liabilities |
0 |
- |
0 |
- |
0 |
-100 |
-- |
|
|
Total
current liabilities |
2,329,132 |
-40.54 |
3,917,386 |
-64.70 |
11,096,763 |
16,873,237 |
-86.20 |
|
|
LONG TERM DEBTS AND LIABILITIES |
||||||||
|
Deffered
taxes |
-- |
-- |
-- |
-- |
-- |
250,209 33,109 |
-- |
|
|
Provisions
for Liabilities & Charges |
98,624 |
-10.29 |
109-,942 |
-21.92 |
140,806 |
535,627 |
-81.59 |
|
|
Other
long term liabilities |
0 |
0 |
-1 |
- |
0 |
40,694 |
-100 |
|
|
Total
long term debts |
98,624 |
-10.29 |
109-,942 |
-21.92 |
140,806 |
2,580,566 |
-96.18 |
|
|
SHAREHOLDERS EQUITY |
||||||||
|
Issued
share capital |
401,480,499 |
0.00 |
401,480,499 |
-59.91 |
1,001,480,499 |
15,278,574 |
2527 |
|
|
Share
premium account |
-- |
-- |
--- |
-- |
-- |
39,499,284 |
--- |
|
|
Reserves |
174,440,824 |
9.54 |
159,248,162 |
39.13 |
114,459,281 |
13,998,688 |
1146 |
|
|
Total
shareholders equity |
575,921,323 |
2.71 |
560,728,661 |
-49.75 |
1,115,939,780 |
36,557,554 |
1475 |
|
|
Working
capital |
156,962,017 |
-20.35 |
197,058,377 |
-52.41 |
414,039,918 |
12,523,998 |
1153 |
|
|
Cashflow |
15,321,412 |
-65.97 |
45,021,458 |
25.45 |
35,887,717 |
4,042,184 |
279 |
|
|
Net
worth |
575,921,323 |
2.71 |
560,728,661 |
-49.75 |
1,115,939,780 |
34,798,198 |
1555 |
|
Ratio analysis
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
2274.63 |
3139 |
70.22 |
17.05 |
59.99 |
97,00 |
2244 |
|
Return
on capital employed |
2.64 |
-58.16 |
6.31 |
106 |
3.05 |
-11,00 |
24.00 |
|
Return
on total assets employed |
2.63 |
-57.99 |
6.26 |
107 |
3.02 |
-6,00 |
43.83 |
|
Return
on net assets employed |
2.64 |
-58.16 |
6.31 |
106 |
3.05 |
-14,00 |
18.86 |
|
Sales
/ net working capital |
0 |
-100 |
0.26 |
85.71 |
0.14 |
-17,00 |
-100 |
|
Stock
turnover ratio |
-- |
-- |
--- |
-- |
4.67 |
8,00 |
--- |
|
Debtor
days |
1435.67 |
12729 |
11.19 |
-74.49 |
43.87 |
130,00 |
1004 |
|
Creditor
days |
26938.58 |
108000 |
24.92 |
-61.70 |
65.07 |
1,232,00 |
2086 |
|
SHORT TERM STABILITY |
|||||||
|
Current
ratio |
68.39 |
33.31 |
51.30 |
33.91 |
38.31 |
20,00 |
2179 |
|
Liquidity
ratio / acid ratio |
68.39 |
33.31 |
51.30 |
34.75 |
38.07 |
19,00 |
259 |
|
Current
debt ratio |
0 |
-100 |
0.01 |
0 |
0.01 |
3,00 |
-100 |
|
Liquidity
ratio reprocessed |
--- |
--- |
-- |
-- |
-- |
-- |
-- |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
-- |
-- |
--- |
--- |
--- |
112,00 |
--- |
|
Equity
in percentage |
99.58 |
0.29 |
99.29 |
0.29 |
99 |
-420,00 |
23.71 |
|
Total
debt ratio |
0 |
-100 |
0.01 |
0 |
0.01 |
3,00 |
-100 |
Industry
comparison
|
Activity code 20110 |
|
Activity description Manufacture of industrial gases |
Payment
Information
|
Payment Information Summary |
|
|
Total
number of Invoices available |
2 |
|
Total
number of Invoices paid within or up to 30 days after the due date |
1 |
|
Total
number of Invoices paid more than 30 days after the due date |
0 |
|
Total
number of Invoices currently outstanding where the due date has not yet
been reached |
0 |
|
Total
number of Invoices currently outstanding beyond the due date |
1 |
Payment
expectations
Payment expectation days 26938.58
Day sales outstanding 1435.67
Industry comparison
Activity code 20110
Activity description Manufacture of industrial gases
Industry average payment
expectation days 60.12
Industry average day sales
Outstanding 105.92
Industry quartile analysis
|
Payment expectations |
|
|
Company result |
26938.58 |
|
Lower |
93.98 |
|
Median |
57.07 |
Day sales outstanding
Company result 1435.67
Lower 65.68
Median 50.45
Upper 29.74
Shareholder Details
Summary
Group - Number of Companies 2
Linkages - Number of Companies 37
Number of Countries 13
Group Structure
Company name Number Latest financials
- FORTUM OIL OY
- - NESTE OIL NV 451251225
31-12-2012
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Linked Companies
Summary
Group - Number of Companies 2
Linkages - Number of Companies 37
Number of Countries 13
Court Data
NSSO details
Business number 451251225
Bankruptcy
details
There
is no bankruptcy data against this company
Bankruptcy
Data
Court Data
there is
no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.08 |
|
UK Pound |
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
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.