MIRA
INFORM REPORT
|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NNZ B.V. |
|
|
|
|
Registered Office : |
Aarhusweg 1, 9723JJ Groningen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.12.1922 |
|
|
|
|
Com. Reg. No.: |
02039320 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
·
Wholesaler of packaging materials for agricultural and industrial
markets Wholesale trader, importer and exporter of packaging,
especially bags made of jute, paper, polyethylene and mesh bags |
|
|
|
|
No of Employees : |
29 (2013) |
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 |
Summary
Company name NNZ B.V.
Operative address Aarhusweg 1
9723JJ Groningen
Status Active
Specification This company can
meet all its obligations.
Legal form Besloten
Vennootschap (Private Company)
Registration number KvK-nummer:
02039320
VAT-number 006718449
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
11.654.000 |
24,22 |
9.382.000 |
1,18 |
9.273.000 |
|
Total receivables |
17.402.000 |
18,70 |
14.661.000 |
-7,76 |
15.895.000 |
|
Total equity |
18.671.000 |
11,06 |
16.811.000 |
9,39 |
15.368.000 |
|
Short term liabilities |
26.703.000 |
5,83 |
25.231.000 |
0,08 |
25.211.000 |
|
Net result |
2.343.000 |
25,76 |
1.863.000 |
-16,04 |
2.219.000 |
|
Working capital |
16.805.000 |
10,66 |
15.186.000 |
12,66 |
13.479.000 |
|
Quick ratio |
0,71 |
7,58 |
0,66 |
-5,71 |
0,70 |
Contact information
Company name NNZ B.V.
Trade names NNZ B.V.
Operative address Aarhusweg 1
9723JJ Groningen
Netherlands
Correspondence address Postbus 104
9700AC Groningen
Netherlands
Telephone number 050 5207800
Fax number 050 5207801
Email address info@nnz.nl
Website www.nnz.nl
Registration
Registration number KvK-nummer:
02039320
Registered in Kamer van
Koophandel Noord-Nederland
Branch number 000017703069
VAT-number 006718449
Status Active
Memorandum 1983-12-23
Establishment date 1922-12-15
Legal form Besloten
Vennootschap (Private Company)
Last proposed admendment 2002-10-03
Activities
SBI Wholesaler of packaging materials for
agricultural and industrial markets (46696)
Exporter No
Importer No
Goal Groothandel in en
im- en export van verpakkingsmateriaal, vooral zakken van jute,
papier,
polyethyleen, alsmede netzakken
(Wholesale trader, importer and exporter of packaging, especially bags made of jute,
paper, polyethylene and mesh bags)
Relations
Shareholders
NNZ Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020471710000
Percentage: 100.00%
Branches
NNZ B.V.
Zoutketen 45
1601EX ENKHUIZEN
Netherlands
Registration number: 020393200002
NNZ B.V.
De Poort 1
4411PB RILLAND
Netherlands
Registration number: 020393200003
Companies on same address
Cresco B.V.
Registration number: 020570780000
Hanze Sociëteit Groningen
Registration number: 020850480000
Le Vide Vici B.V.
Registration number: 020570760000
Libau B.V.
Registration number: 020570790000
Magellan B.V.
Registration number: 020570800000
NNZ Beheer B.V.
Registration number: 020471710000
Stichting Administratiekantoor Aandelen Libau
Registration number: 410116010000
Talent B.V.
Registration number: 020570770000
Will en Wim Boot Stichting
Registration number: 410137830000
RhomCo B.V.
Registration number: 011803670000
Liability statements NNZ Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020471710000
date of issue: 1991-12-24
Starting date: 1990-05-31
Bank details
Accounts
Bank BNP Paribas SA
Account number: 639818269
ING Bank NV
Account number: 821237
Management
Active management
NNZ Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020471710000
Competence: Fully authorized
Function: Manager
Starting date: 1990-05-31
L.W.F. Boot (Leendert Willem Frederik)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 1999-02-01
Date of birth: 1959-06-29, Groningen, NL
R.K. Veld (Roelof Klaas)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1999-04-01
Date of birth: 1968-08-30, Emmen, NL
J.K. Zwier (Jan Koert)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2000-06-15
Date of birth: 1961-04-15, Groningen, NL
R. Abel (Robert)
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2001-08-20
Date of birth: 1955-05-13, Leeuwarden, NL
R.T. Padding - de Haan (Renskje Tinie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-09-09
Date of birth: 1966-11-19, Groningen, NL
R.C. Sauchelli (Roberto Christiaan)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-09-09
Date of birth: 1978-06-10, Groningen, NL
Employees
Total according to the Chamber of Commerce 29
Year 2013
Total 29
Payments
Description Payments made
under regular condition
Key figures
|
Year
|
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick ratio |
0,71 |
0,66 |
0,70 |
0,69 |
0,54 |
|
Current ratio |
1,63 |
1,60 |
1,53 |
1,52 |
1,36 |
|
Working capital/ balance total |
0,30 |
0,30 |
0,28 |
0,27 |
0,21 |
|
Equity / balance total |
0,34 |
0,34 |
0,32 |
0,31 |
0,25 |
|
Equity / Fixed assets |
1,60 |
1,79 |
1,66 |
1,37 |
1,24 |
|
Equity / liabilities |
0,51 |
0,51 |
0,47 |
0,45 |
0,35 |
|
Balance total / liabilities |
1,51 |
1,51 |
1,47 |
1,45 |
1,38 |
|
Working capital |
16.805.000 |
15.186.000 |
13.479.000 |
11.581.000 |
10.330.000 |
|
Equity |
18.671.000 |
16.811.000 |
15.368.000 |
13.453.000 |
12.134.000 |
|
Mutation equity |
11,06 |
9,39 |
14,23 |
10,87 |
-0,72 |
|
Mutation short term liabilities |
5,83 |
0,08 |
13,91 |
-22,12 |
42,11 |
|
Return on total assets (ROA) |
5,50 |
5,58 |
6,61 |
5,18 |
2,94 |
|
Return on equity (ROE) |
16,24 |
16,53 |
20,63 |
16,75 |
11,74 |
|
Gross profit margin |
3,38 |
3,24 |
3,69 |
3,17 |
2,75 |
|
Net profit margin |
1,91 |
1,62 |
2,02 |
1,56 |
0,94 |
|
Average collection ratio |
4,59 |
4,57 |
4,36 |
4,46 |
3,37 |
|
Average payment ratio |
7,05 |
7,86 |
6,91 |
7,39 |
6,55 |
|
Equity turnover ratio |
6,57 |
6,86 |
7,15 |
7,34 |
7,89 |
|
Total assets turnover ratio |
2,22 |
2,31 |
2,29 |
2,27 |
1,97 |
|
Fixed assets turnover ratio |
10,52 |
12,29 |
11,85 |
10,09 |
9,80 |
|
Inventory conversion ratio |
4,99 |
4,86 |
5,23 |
5,37 |
4,09 |
|
Turnover |
122.648.000 |
115.260.000 |
109.855.000 |
98.725.000 |
95.689.000 |
|
Operating result |
4.141.000 |
3.733.000 |
4.055.000 |
3.127.000 |
2.634.000 |
Summary
The 2012 financial result structure is a positive working capital of
16.805.000 euro, which is in
agreement with 30 % of the total assets of the company.
The working capital has increased with 10.66 % compared to previous
year. The ratio with
respect to the total assets of the company remains unchanged.
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 1.63. A company with a
current ratio between
1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2012 of the company was 0.71. A company with a Quick
Ratio of less than
1 cannot currently pay back its current liabilities.
The 2011 financial result structure is a positive working capital of
15.186.000 euro, which is in
agreement with 30 % of the total assets of the company.
The working capital has increased with 12.66 % 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 1.6. A company with a
current ratio between
1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2011 of the company was 0.66. 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 NNZ
Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020471710000
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 |
|
6.000 |
18.000 |
30.000 |
83.000 |
|
Other tangible fixed assets |
|
|
|
|
9.123.000 |
|
Tangible fixed
assets |
11.021.000 |
8.760.000 |
8.763.000 |
8.966.000 |
9.123.000 |
|
Other financial fixed assets |
|
|
|
|
554.000 |
|
Financial fixed
assets |
633.000 |
616.000 |
492.000 |
790.000 |
554.000 |
|
Fixed assets |
11.654.000 |
9.382.000 |
9.273.000 |
9.786.000 |
9.760.000 |
|
Other stock |
|
|
|
|
23.392.000 |
|
Total stock |
24.576.000 |
23.722.000 |
20.991.000 |
18.373.000 |
23.392.000 |
|
Accounts receivable |
16.572.000 |
13.886.000 |
15.048.000 |
12.729.000 |
13.260.000 |
|
Other receivables |
830.000 |
775.000 |
847.000 |
632.000 |
1.347.000 |
|
Total
receivables |
17.402.000 |
14.661.000 |
15.895.000 |
13.361.000 |
14.607.000 |
|
Liquid funds |
1.530.000 |
2.034.000 |
1.804.000 |
1.979.000 |
749.000 |
|
accruals |
|
|
|
|
1.347.000 |
|
Current assets |
43.508.000 |
40.417.000 |
38.690.000 |
33.713.000 |
38.748.000 |
|
Total assets |
55.162.000 |
49.799.000 |
47.963.000 |
43.499.000 |
48.508.000 |
|
Other reserves |
|
|
|
|
12.134.000 |
|
Total reserves |
|
|
|
|
12.134.000 |
|
Minority
interests |
|
|
|
|
4.000 |
|
Total equity |
18.671.000 |
16.811.000 |
15.368.000 |
13.453.000 |
12.134.000 |
|
|
|||||
|
Provisions |
1.161.000 |
1.090.000 |
1.070.000 |
1.324.000 |
1.278.000 |
|
Long term interest yielding debt |
8.627.000 |
6.667.000 |
6.314.000 |
6.590.000 |
|
|
Other long term liabilities |
|
|
|
|
6.674.000 |
|
Long term
liabilities |
8.627.000 |
6.667.000 |
6.314.000 |
6.590.000 |
6.674.000 |
|
Accounts payable |
10.256.000 |
8.665.000 |
7.522.000 |
6.900.000 |
10.138.000 |
|
Other short term liabilities |
16.447.000 |
16.566.000 |
17.689.000 |
15.232.000 |
18.280.000 |
|
Short term
liabilities |
26.703.000 |
25.231.000 |
25.211.000 |
22.132.000 |
28.418.000 |
|
Total short and
long term liabilities |
36.491.000 |
32.988.000 |
32.595.000 |
30.046.000 |
35.092.000 |
|
Total
liabilities |
55.162.000 |
49.799.000 |
47.963.000 |
43.499.000 |
48.508.000 |
Summary
The total assets of the company increased with 10.77 % between 2011 and
2012.
The total asset increase is retrievable in the fixed asset growth of
24.22 %.
The asset growth has mainly been financed by a Net Worth increase of
11.06 %. Debt,
however, grew with 10.62 %.
In 2012 the assets of the company were 21.13 % composed of fixed assets
and 78.87 % by
current assets. The assets are being financed by an equity of 33.85 %,
and total debt of
66.15 %.
The total assets of the company increased with 3.83 % between 2010 and
2011.
The fixed asset growth of 1.18 % is lower than the total asset growth.
The asset growth has mainly been financed by a Net Worth increase of
9.39 %. Debt,
however, grew with 1.21 %.
In 2011 the assets of the company were 18.84 % composed of fixed assets
and 81.16 % by
current assets. The assets are being financed by an equity of 33.76 %,
and total debt of
66.24 %.
Profit & Loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
122.648.000 |
115.260.000 |
109.855.000 |
98.725.000 |
95.689.000 |
|
Net turnover |
122.648.000 |
115.260.000 |
109.855.000 |
98.725.000 |
95.689.000 |
|
other operating costs |
|
|
|
|
93.055.000 |
|
Operating expenses |
118.507.000 |
111.527.000 |
105.800.000 |
95.598.000 |
93.055.000 |
|
Result in subsidiaries |
-8.000 |
33.000 |
45.000 |
12.000 |
27.000 |
|
Operating result |
4.141.000 |
3.733.000 |
4.055.000 |
3.127.000 |
2.634.000 |
|
|
|||||
|
Financial expenses |
1.100.000 |
987.000 |
929.000 |
885.000 |
1.236.000 |
|
Financial result |
-1.100.000 |
-987.000 |
-929.000 |
-885.000 |
-1.236.000 |
|
Result on ordinary
operations before taxes |
3.033.000 |
2.779.000 |
3.171.000 |
2.254.000 |
1.425.000 |
|
|
|||||
|
Taxation on the result of ordinary
activities |
1.079.000 |
909.000 |
980.000 |
734.000 |
602.000 |
|
Result of ordinary
activities after taxes |
1.954.000 |
1.870.000 |
2.191.000 |
1.520.000 |
823.000 |
|
|
|||||
|
Extraordinary income |
389.000 |
|
28.000 |
24.000 |
6.000 |
|
Extraordinary expense |
|
7.000 |
|
|
|
|
Extraordinary result after taxation |
389.000 |
-7.000 |
28.000 |
24.000 |
6.000 |
|
Net result |
2.343.000 |
1.863.000 |
2.219.000 |
1.544.000 |
895.000 |
|
Attributable to third parties |
|
|
|
|
66.000 |
Summary
The turnover of the company grew with 6.41 % between 2011 and 2012.
The operating result of the company grew with 10.93 % between 2011 and
2012. This
evolution implies an increase of the company's economic profitability.
The result of these changes is a reduction of the company's Economic
Profitability of -1.43 %
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 -3.9 to a
level of 2.22.
The Net Result of the company decreased by 25.76 % 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 -1.75 % of the analysed period, being 16.24 % in the year 2012.
The company's financial profitability has been positively affected by
its financial structure.
The turnover of the company grew with 4.92 % between 2010 and 2011.
The operating result of the company declined with -7.94 % 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 -15.58
% of the analysed period, being equal to 2010 % in the year 2011.
Despite the decline the assets turnover did not change, the index
remained the same at 2.31.
The Net Result of the company increased by -16.04 % 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
-19.87 % of the analysed period, being 16.53 % in the year 2011.
The company's financial profitability has been positively affected by
its financial structure.
Analysis
Branch (SBI)
Wholesale trade (no motor vehicles and motorcycles) (46)
Region
Groningen
In the Netherlands 109662 of the companies are registered with the SBI
code 46
In the region Groningen 2092 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 Groningen 53 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 Groningen is normal
Publications
Consent statements
28-05-2013: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd.
21-06-2012: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.
23-08-2011: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.
15-06-2010: Voor boekjaar 2009 is een instemmingsverklaring gedeponeerd.
Functions
01-10-2010: Per 09-09-2010 is gevolmachtigde Roberto Christiaan
Sauchelli in functie getreden.
29-09-2010: Per 09-09-2010 is gevolmachtigde Renskje Tinie Padding-de
Haan in functie getreden.
Company structure
Relations 5
Stichting Administratiekantoor Aandelen Libau
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 410116010000
• Libau B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020570790000
• NNZ Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020471710000
• NNZ B.V.
Aarhusweg 1
9723JJ Groningen
Netherlands
Registration number: 020393200000
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
: |
SUB |
|
|
|
|
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.