MIRA
INFORM REPORT
|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHOEBY FRANCHISE
B.V. |
|
|
|
|
Registered Office : |
Burgemeester Burgerslaan 40a, 5245nh
Rosmalen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
16078843 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Wholesaler of Textile Products for Women, Men and Kids |
|
|
|
|
No of Employees : |
77 (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 Shoeby Franchise B.V.
Operative address Burgemeester
Burgerslaan 40A
5245NH Rosmalen
Netherlands
Status Active
Specification This
company can meet all its obligations.
Legal form Besloten
Vennootschap (Private company)
Registration number KvK-nummer:
16078843
VAT-number 803925207
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
14.110.352 |
13,85 |
12.394.339 |
124,10 |
5.530.595 |
|
Total receivables |
68.841.120 |
52,78 |
45.058.850 |
189,80 |
15.548.200 |
|
Total equity |
45.500.361 |
21,16 |
37.554.104 |
32,06 |
28.436.706 |
|
Short term liabilities |
29.730.051 |
119,10 |
13.569.449 |
105,56 |
6.601.215 |
|
Net result |
7.946.257 |
-12,85 |
9.117.398 |
-11,78 |
10.334.812 |
|
Working capital |
43.390.009 |
19,34 |
36.359.765 |
58,73 |
22.906.111 |
|
Quick ratio |
2,32 |
-30,33 |
3,33 |
-12,14 |
3,79 |
Contact information
Company name Shoeby
Franchise B.V.
Trade names Shoeby
Franchise B.V.
Operative address Burgemeester
Burgerslaan 40A
5245NH Rosmalen
Netherlands
Correspondence address Postbus
12
5240AA Rosmalen
Netherlands
Telephone number 0735118019
Fax number 0735113078
Email address info@shoebyfranchise.nl
Website www.shoebyfashion.nl
Registration
Registration number KvK-nummer:
16078843
Branch number 000020074921
VAT-number 803925207
Status Active
First registration company register 1995-06-30
Memorandum 1995-06-27
Establishment date 1995-06-27
Legal form Besloten
Vennootschap
Last proposed admendment 1999-09-10
Activities
SBI Wholesaler
of Textile Products for Women, Men
and Kids
Exporter No
Importer No
Goal De
handel in textiel- en aanverwante goederen in een franchiseorganisatie
(Trade in textiles
and related goods in a franchise organization)
Relations
Shareholders
Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
Percentage: 100.00%
Companies on same address
Lake Side Franchise B.V.
Registration number: 020401290000
Shoeby-Shop B.V.
Registration number: 160544620000
Lake Side Rental B.V.
Registration number: 302274500000
Bank details
Accounts
ING Bank NV
Account number: 65.51.87.286
Management
Active management
Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
Competence: Fully authorized
Function: Manager
Starting date: 2000-11-16
J.J. den Arend (Johannes Jan)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2005-01-24
Date of birth: 1961-07-06, Rotterdam, NL
Involved with the following companies
• VDR Holding B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 514500460000
Function: Manager
• Lake Side Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 020401290000
Function: Proxy
• Shoeby-Shop B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160544620000
Function: Proxy
Employs
Employees
Total according to the Chamber of Commerce 77
Year 2014
2013 2012 2011 2010
Total 77
77 215 89 130
Payments
Description The
payments are regular
|
Key figures |
|
|
|
|
|
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick ratio |
2,32 |
3,33 |
3,79 |
2,93 |
1,35 |
|
Current ratio |
2,46 |
3,68 |
4,47 |
3,81 |
1,87 |
|
Working capital/ balance total |
0,50 |
0,58 |
0,65 |
0,53 |
0,33 |
|
Equity / balance total |
0,52 |
0,60 |
0,81 |
0,81 |
0,62 |
|
Equity / Fixed assets |
3,22 |
3,03 |
5,14 |
2,94 |
2,10 |
|
Equity / liabilities |
1,09 |
1,52 |
4,31 |
4,25 |
1,66 |
|
Balance total / liabilities |
2,09 |
2,52 |
5,31 |
5,25 |
2,66 |
|
Working capital |
43.390.009 |
36.359.765 |
22.906.111 |
11.945.791 |
5.980.624 |
|
Equity |
45.500.361 |
37.554.104 |
28.436.706 |
18.101.894 |
11.417.464 |
|
Mutation equity |
21,16 |
32,06 |
57,09 |
58,55 |
156,49 |
|
Mutation short term liabilities |
119,10 |
105,56 |
55,13 |
-38,14 |
6,49 |
|
Return on total assets (ROA) |
9,11 |
14,63 |
29,50 |
29,90 |
35,55 |
|
Return on equity (ROE) |
17,46 |
24,28 |
36,34 |
36,93 |
56,97 |
|
Gross margin |
24.417.556 |
26.451.441 |
27.900.595 |
22.700.830 |
18.494.640 |
|
Operating result |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
Net result after taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
Cashflow |
9.127.461 |
10.136.766 |
11.377.331 |
7.635.934 |
7.162.266 |
|
EBIT |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
EBITDA |
9.311.675 |
10.155.728 |
11.504.235 |
7.410.675 |
7.320.475 |
Summary
The 2012 financial result structure is a positive working
capital of 43.390.009 euro, which is in
agreement with 50 % of the total assets of the company.
The working capital has increase with 19.34 % compared to
previous year. The ratio with
respect to the total assets of the company has however,
declined.
The improvement between 2011 and 2012 has mainly been
caused by a current liabilities
reduction.
The current ratio of the company in 2012 was 2.46. 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 2.32. A company
with a Quick Ratio of more than
1 can currently pay back its current liabilities.
The 2011 financial result structure is a positive working
capital of 36.359.765 euro, which is in
agreement with 58 % of the total assets of the company.
The working capital has increase with 58.73 % compared to previous
year. The ratio with
respect to the total assets of the company has however,
declined.
The improvement between 2010 and 2011 has mainly been
caused by a current liabilities
reduction.
The current ratio of the company in 2011 was 3.68. If the
current ratio exceeds 3.0, the
company may not be using its current assets or its
short-term financing facilities efficiently .
The quick ratio in 2011 of the company was 3.33. A company
with a Quick Ratio of more than
1 can currently pay back its current liabilities.
Financial statement
Type of annual account Corporate
Annual account Shoeby
Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160788430000
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 |
591.021 |
673.724 |
781.303 |
837.719 |
448.482 |
|
Tangible fixed
assets |
3.842.789 |
3.039.957 |
3.163.734 |
4.086.204 |
3.998.115 |
|
Financial fixed
assets |
9.676.542 |
8.680.658 |
1.585.558 |
1.232.180 |
990.243 |
|
Fixed assets |
14.110.352 |
12.394.339 |
5.530.595 |
6.156.103 |
5.436.840 |
|
|
|||||
|
Total stock |
4.256.719 |
4.772.270 |
4.509.872 |
3.753.046 |
3.550.967 |
|
Accounts receivable |
11.463.691 |
8.935.286 |
5.812.275 |
5.253.809 |
3.760.451 |
|
Other receivables |
57.377.429 |
36.123.564 |
9.735.925 |
4.720.698 |
2.111.833 |
|
Total
receivables |
68.841.120 |
45.058.850 |
15.548.200 |
9.974.507 |
5.872.284 |
|
Liquid funds |
22.221 |
98.094 |
9.449.254 |
2.473.576 |
3.436.300 |
|
Current assets |
73.120.060 |
49.929.214 |
29.507.326 |
16.201.129 |
12.859.551 |
|
Total assets |
87.230.412 |
62.323.553 |
35.037.921 |
22.357.232 |
18.296.391 |
|
|
|||||
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Other reserves |
45.482.210 |
37.535.953 |
28.418.555 |
18.083.743 |
11.399.313 |
|
Total reserves |
45.482.210 |
37.535.953 |
28.418.555 |
18.083.743 |
11.399.313 |
|
Total equity |
45.500.361 |
37.554.104 |
28.436.706 |
18.101.894 |
11.417.464 |
|
|
|||||
|
Long term interest yielding debt |
12.000.000 |
11.200.000 |
|
|
|
|
Long term
liabilities |
12.000.000 |
11.200.000 |
|
||
|
Accounts payable |
8.493.859 |
4.208.889 |
4.057.856 |
2.214.573 |
3.411.029 |
|
Other short term liabilities |
21.236.192 |
9.360.560 |
2.543.359 |
2.040.765 |
3.467.898 |
|
Short term
liabilities |
29.730.051 |
13.569.449 |
6.601.215 |
4.255.338 |
6.878.927 |
|
Total short and
long term liabilities |
41.730.051 |
24.769.449 |
6.601.215 |
4.255.338 |
6.878.927 |
|
Total
liabilities |
87.230.412 |
62.323.553 |
35.037.921 |
22.357.232 |
18.296.391 |
Summary
The total
assets of the company increased with 39.96 % between 2011 and 2012.
The fixed asset
growth of 13.85 % is lower than the total asset growth.
The asset
growth has mainly been financed by a debt increase of 68.47 %. The Net Worth,
however, grew
with 21.16 %.
In 2012 the
assets of the company were 16.18 % composed of fixed assets and 83.82 % by
current assets.
The assets are being financed by an equity of 52.16 %, and total debt of
47.84 %.
The total
assets of the company increased with 77.87 % between 2010 and 2011.
The total asset
increase is retrievable in the fixed asset growth of 124.1 %.
The asset
growth has mainly been financed by a debt increase of 275.23 %. The Net Worth,
however, grew
with 32.06 %.
In 2011 the
assets of the company were 19.89 % composed of fixed assets and 80.11 % by
current assets.
The assets are being financed by an equity of 60.26 %, and total debt of
39.74 %.
Profit & Loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Gross margin |
24.417.556 |
26.451.441 |
27.900.595 |
22.700.830 |
18.494.640 |
|
|
|||||
|
Wages and salaries |
7.652.107 |
7.600.199 |
6.064.617 |
5.430.377 |
5.688.900 |
|
Amorization and depreciation |
1.181.204 |
1.019.368 |
1.042.519 |
951.504 |
658.273 |
|
other operating costs |
7.453.774 |
8.695.514 |
10.331.743 |
9.859.778 |
5.485.265 |
|
Operating expenses |
16.287.085 |
17.315.081 |
17.438.879 |
16.241.659 |
11.832.438 |
|
Operating result |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
|
|||||
|
Financial income |
|
277.239 |
|
262.733 |
|
|
Financial expenses |
184.214 |
296.201 |
126.904 |
37.474 |
158.209 |
|
Financial result |
-184.214 |
-18.962 |
-126.904 |
225.259 |
-158.209 |
|
Result on ordinary
operations before taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
|
|||||
|
Result of ordinary
activities after taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
|
|||||
|
Net result |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
Summary
The gross profit of the company decreased by -7.69 %
between 2011 and 2012.
The operating result of the company declined with -11.01 %
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 -37.73
% of the analysed period, being equal to 2011 % in the
year 2012.
The Net Result of the company increased by -12.85 %
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
-28.09 % of the analysed period, being 17.46 % in the year
2012.
The company's financial profitability has been positively
affected by its financial structure.
The gross profit of the company decreased by -5.19 %
between 2010 and 2011.
The operating result of the company declined with -12.67 %
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 -50.41
% of the analysed period, being equal to 2010 % in the
year 2011.
The Net Result of the company increased by -11.78 %
between 2010 and 2011.
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 -33.19 % of the analysed period, being 24.28 % 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 Midden-Brabant
In the Netherlands 109662 of
the companies are registered with the SBI code 46
In the region Midden-Brabant
5737 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 Midden-Brabant
108 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 Midden-Brabant is normal
Publications
Filings 08-01-2014:
De jaarrekening over 2012 is gepubliceerd.
16-01-2013: De jaarrekening
over 2011 is gepubliceerd.
05-10-2011: De jaarrekening
over 2010 is gepubliceerd.
07-12-2010: De jaarrekening
over 2009 is gepubliceerd.
12-02-2010: De jaarrekening
over 2008 is gepubliceerd.
Company structure
Relations 13
VDR Holding B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 514500460000
• Shoeby Retail Partners B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 341343510000
• Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
• Shoeby Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160788430000
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.