MIRA INFORM REPORT

 

 

Report Date :

15.10.2014

 

IDENTIFICATION DETAILS

 

Name :

YME KUIPER B.V.

 

 

Registered Office :

Businesspark Friesland-West 9, 8447SL Heerenveen

 

 

Country :

Netherland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

10.07.1995

 

 

Com. Reg. No.:

KvK-nummer: 01072169

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Wholesale of bakery raw materials

 

 

No. of Employees :

Not Available

 

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 :

Delayed

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Netherland

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

NETHERLAND - ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract

Source : CIA

 

 

Company name

 

Yme Kuiper B.V.

 

 

Operative address

 

Businesspark Friesland-West 9

8447SL Heerenveen

Netherlands

Legal form                   Besloten Vennootschap

Registration number    KvK-nummer: 01072169

VAT-number                 804013196

 

Year

2012

 

Mutation

2011

 

Mutation

2010

Fixed assets

1.258.174

%

-11,87

1.427.662

 

78,18

801.247

Total receivables

5.782.300

%

-15,46

6.839.775

 

2,24

6.690.206

 

Total equity

1.470.848

%

-19,08

1.817.769

 

177,00

656.228

Short term liabilities

9.019.770

%

-11,10

10.146.455

 

22,05

8.313.019

 

Net result

-346.921

 

-217,78

294.541

 

-42,64

513.477

 

Working capital

1.054.921

 

-26,84

1.441.839

 

-23,03

1.873.300

Quick ratio

0,71

%

-8,97

0,78

 

-15,22

0,92

 

 

Contact information

 

Company name                        Yme Kuiper B.V.

Trade names                            Yme Kuiper B.V.

Operative address                    Businesspark Friesland-West 9

8447SL Heerenveen

Netherlands

Correspondence address         Postbus 259

8440AG Heerenveen

Netherlands

Telephone number                   0513617010

Website                                    www.ymekuiper.nl

 

 

Registration

 

Registration number                            KvK-nummer: 01072169

Branch number                                    000019916418

VAT-number                                         804013196

Status                                                  Active

First registration company register      1995-07-12

Memorandum                                       1995-07-10

Establishment date                              1995-07-10

Legal form                                           Besloten Vennootschap

Last proposed admendment                 2006-01-03

 

 

Activities

 

SBI                   Wholesale of bakery raw materials (46384)

Exporter           No

Importer           Yes

Goal                 Import van en groothandel in bakkerijgrondstoffen.

 

 

Relations

 

Shareholders               Qpr Holding B.V.

Businesspark Friesland-W 9

8466SL NIJEHASKE

Netherlands

Registration number: 010721680000

Percentage: 100%

 

 

Management

 

Active management Qpr Holding B.V.

Businesspark Friesland-W 9

8466SL NIJEHASKE

Netherlands

Registration number: 010721680000

Competence: Fully authorized

Function: Manager

Starting date: 1995-07-10

I.B. Kuiper (IJme Berend)

Netherlands

Competence: Fully authorized

Function: Proxy

Starting date: 2013-03-13

Date of birth: 1960-06-30, Heerenveen, NL

H.W. Kuiper (Hendrik Willem)

Netherlands

Competence: Fully authorized

Function: Proxy

Starting date: 2013-06-18

Date of birth: 1964-12-26, Heerenveen, NL

 

Employees

 

Total according to the Chamber of Commerce

0

 

 

 

 

 

Year

 

2014

2012

2011

2010

2009

Total

 

0

40

31

25

22

 

 

Payments

 

Description The payments are delayed

 

Key figures

 

Year

2012

2011

2010

2009

2008

Quick ratio

0,71

0,78

0,92

0,79

0,80

Current ratio

1,12

1,14

1,23

1,14

1,05

 

Working capital/ balance total

0,09

0,11

0,17

0,11

0,05

Equity / balance total

0,13

0,14

0,06

0,02

-0,04

Equity / Fixed assets

1,17

1,27

0,82

0,24

-0,46

Equity / liabilities

0,15

0,16

0,06

0,02

-0,04

 

Year

2012

2011

2010

2009

2008

Balance total/ Liabilities

1,15

1,16

1,06

1,02

0,98

Working capital

1054.921

1.441.839

1.873.300

789.760

350.104

Equity

1,470.848

1,817.769

656.228

142.751

-325.233

Mutation equity

-19.08

177,00

359,70

143,89

-1.221.49

Mutation short term liabilities

-11.10

22.05

49.64

-14.35

-6.19

Return on total assets (ROA)

-4,09

3,01

6,01

6,12

-3,67

Return on equity (ROE)

-31,50

21,56

100,56

297,37

85,17

Gross margin

4.671.831

4.980.580

3.046.909

2.863.292

2.222.597

Operating result

-100.400

781.067

862.305

644.669

93.778

Net result after taxes

-346.921

294.541

513.477

335.713

-221.598

 

Cashflow

32.503

556.285

672.400

507.920

-102.576

EBIT

-100.400

781.067

862.305

644.669

93.778

EBITDA

279.024

1.042.811

1.021.228

816.876

212.800

 

 

Summary

 

The 2012 financial result structure is a postive working captial of 1.054.921 euro, which is in

agreement with 9 % of the total assets of the company.

The working capital has diminished with -26.84 % 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 1.12. 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 0.71. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

The 2011 financial result structure is a postive working captial of 1.441.839 euro, which is in

agreement with 11 % of the total assets of the company.

The working capital has diminished with -23.03 % compared to previous year. The ratio, with

respect to the total assets of the company has however, declined.

The deterioration between 2010 and 2011 has mainly been caused by an increase of the

current liabilities.

The current ratio of the company in 2011 was 1.14. 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 0.78. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Last annual account                 2012

Remark annual account            The company is obliged to file its financial statements.

Type of annual account            Corporate

Annual account                        Yme Kuiper B.V.

Businesspark Friesland-West 9

8447SL Heerenveen

Netherlands

Registration number: 010721690000

 

 

Balance

 

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

 

25.000

Tangible fixed assets

1.258.174

1.427.662

801.247

592.117

680.192

Fixed assets

1.258.174

1.427.662

801.247

592.117

705.192

Total stock

3.708.340

3.627.540

2.577.035

1.961.487

1.668.932

 

Total receivables

5.782.300

6.839.775

6.690.206

4.006.633

4.053.806

 

Liquid funds

584.051

1.120.979

919.078

376.917

1.113.727

 

Current assets

10.074.691

11.588.294

10.186.319

6.345.037

6.836.465

 

Total assets

11.332.865

13.015.956

10.987.566

6.937.154

7.541.657

 

Issued capital

18.151

18.151

18.151

18.151

18.151

Share premium reserve

867.000

867.000

 

 

 

Other reserves

932.618

638.077

124.600

-211.113

-121.786

Non-distributable profit

346.921

294.541

513.477

335.713

221.598

Total reserves

2.493.460

1.799.618

638.077

124.600

321.410

Total equity

1.470.848

1.817.769

656.228

142.751

-325.233

 

Provisions

66.962

183.398

57.393

 

 

Long term interest yielding debt

775.285

868.334

1.960.926

1.239.126

1.248.258

Long term liabilities

775.285

868.334

1.960.926

1.239.126

1.248.258

Short term liabilities

9.019.770

10.146.455

8.313.019

5.555.277

6.486.361

Total short and long term liabilities

9.862.017

11.198.187

10.331.338

6.794.403

7.734.619

 

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Total Liabilities

11.332.865

13.015.956

10.987.566

6.937.154

7.541.657

 

 

Summary

 

The total assets of the company decreased with -12.93 % between 2011 and 2012.

This total assets decrease has been reflected in a reduction of non current assets of -11.87

%.

Assets reduction is explained by a Net Worth decrease of -19.08 %, and an indebtedness

reduction of -11.93 %.

In 2012 the assets of the company were 11.1 % composed of fixed assets and 88.9 % by

current assets. The assets are being financed by an equity of 12.98 %, and total debt of

87.02 %.

The total assets of the company increased with 18.46 % between 2010 and 2011.

The total asset increase is retrievable in the fixed asset growth of 78.18 %.

The asset growth has mainly been financed by a Net Worth increase of 177 %. Debt,

however, grew with 8.39 %.

In 2011 the assets of the company were 10.97 % composed of fixed assets and 89.03 % by

current assets. The assets are being financed by an equity of 13.97 %, and total debt of

86.03 %.

 

 

 

 

Profit and loss

 

 

Year

2012

2011

2010

2009

2008

Gross margin

4.671.831

4.980.580

3.046.909

2.863.292

2.222.597

 

Year

2012

2011

2010

2009

2008

other operating costs

2.969.669

2.692.248

1.087.402

1.270.463

1.256.654

Operating expenses

4.772.231

4.199.513

2.184.604

2.218.623

2.128.819

Operating result

-100.400

781.067

862.305

644.669

93.778

 

Financial income

 

 

5.194

7.841

36.239

Financial expenses

362.957

389.143

207.607

228.016

407.014

Financial result

-362.957

-389.143

-202.413

-220.175

-370.775

Result on ordinary operations before taxes

-463.357

391.924

659.892

424.494

-276.997

 

Taxation on the result of ordinary activities

-116.436

97.383

146.415

88.781

-55.399

Result of ordinary activities after taxes

-346.921

294.541

513.477

335.713

-221.598

 

Net result

-346.921

294.541

513.477

335.713

-221.598

 

 

Summary

 

The gross profit of the company decreased by -6.2 % between 2011 and 2012.

The operating result of the company declined with -112.85 % 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 -235.88

% of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company increased by -217.78 % 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

-246.1 % of the analysed period, being -31.5 % in the year 2012.

The company's financial profitability has been positively affected by its financial structure.

The gross profit of the company grew with 63.46 % between 2010 and 2011.

The operating result of the company declined with -9.42 % 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 -49.92

% of the analysed period, being equal to 2010 % in the year 2011.

The Net Result of the company increased by -42.64 % 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

-78.56 % of the analysed period, being 21.56 % 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                         Friesland

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Friesland 3361 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 Friesland 74 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 Friesland is normal

 

 

Publications

 

Filings                         13-02-2014: De jaarrekening over 2012 is gepubliceerd.

11-02-2013: De jaarrekening over 2011 is gepubliceerd.

21-12-2011: De jaarrekening over 2010 is gepubliceerd.

12-04-2011: De jaarrekening over 2008 is gepubliceerd.

12-04-2011: De jaarrekening over 2009 is gepubliceerd.

Functions         19-06-2013: Per 18-06-2013 is gevolmachtigde Hendrik Willem Kuiper in functie getreden.

14-03-2013: Per 13-03-2013 is gevolmachtigde IJme Berend Kuiper in functie getreden.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.10

UK Pound

1

Rs.98.15

Euro

1

Rs.77.68

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

PDT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.