MIRA INFORM REPORT
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Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
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Name : |
NECARBO B.V. |
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|
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Registered Office : |
Noorderkade 28, 1948 NR Beverwijk |
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Country : |
Netherlands |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
31.12.1964 |
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Com. Reg. No.: |
34079831 |
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Legal Form : |
Private Company |
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Line of Business : |
The production of and trade in chemicals, natural
products, electronic products scary tools, directly or indirectly related;
allowing third parties to wage job producing and / or processing of chemicals,
natural products, electronic products; mediation, funding and coordination
for the development of so-called turnkey projects; take ownership of
transportation and means of production and the lessor rent thereof; mediation
in the creation of transport and charter contracts; mediation in the
conclusion of insurance contracts, or insuring risks of third parties;
possession of acquiring fixed assets, managing them and selling them. |
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No of Employees : |
45 |
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 |
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Payment Behaviour : |
No Complaints |
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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) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
NETHERLANDS - 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 summary
Summary
Company name NECARBO B.V.
Operative address Noorderkade 28
1948NR Beverwijk
Netherlands
Legal form Private Company
Registration number KvK-nummer:
34079831
VAT-number 001462155
|
Year |
2013 |
Mutation |
2012 |
|
Fixed
assets |
323.794 |
210,64 |
104.233 |
|
Total
receivables |
8.903.106 |
-1,18 |
9.009.128 |
|
Total
equity |
14.022.843 |
16,87 |
11.998.688 |
|
Short term
liabilities |
7.527.572 |
-7,63 |
8.149.766 |
|
Net result |
2.024.323 |
766,12 |
233.722 |
|
Working
capital |
13.731.540 |
15,06 |
11.934.705 |
|
Quick ratio |
2,31 |
8,96 |
2,12 |
Contact
information
Company name Necarbo B.V.
Trade names Necarbo B.V.
Nebopolymers
Operative address Noorderkade 28
1948NR Beverwijk
Netherlands
Correspondence address Postbus 621
1940AP Beverwijk
Netherlands
Telephone number 0251278300
Fax number 0251214471
Email address info@necarbo.com
Website www.necarbo.com
Registration
Registration number KvK-nummer:
34079831
Branch number 000002306336
VAT-number 001462155
Status Active
First registration company register 1981-06-24
Memorandum 1951-02-02
Establishment date 1964-12-31
Legal form Private Company
Legal person since 1972-09-14
Last proposed admendment 2012-07-09
Activities
SBI Wholesale of electronic and communication equipment and related parts (4652)
Wholesale of machine-tools (4662)
Wholesale of basic and industrial chemicals (46751)
Exporter Yes
Importer Yes
Branche organisations VVVF - Vereniging van Verf- en Drukinktfabrikanten
VHCP - Verbond van Handelaren in Chemische Producten
Goal The production of and trade in chemicals, natural products, electronic products scary tools, directly or indirectly related; allowing third parties to wage job producing and / or processing of chemicals, natural products, electronic products; mediation, funding and coordination for the development of so-called turnkey projects; take ownership of transportation and means of production and the lessor rent thereof; mediation in the creation of transport and charter contracts; mediation in the conclusion of insurance contracts, or insuring risks of third parties; possession of acquiring fixed assets, managing them and selling them
Relations
Shareholders Naam: Safic-Alcan SAS
Bezoekadres: 3 Rue Bellini, 92800 Puteaux, Frankrijk
Ingeschreven in: Registre du commerce Nanterre, Frankrijk onder nummer 450 980 677 Enig aandeelhouder sedert: 31-01-2012 (datum registratie: 06-02-2012)
Companies on same address PPG Europe B.V.
Registration number: 110708180001
Liability statements PPG
Coatings Nederland B.V.
Amsterdamseweg 14
1422AD Uithoorn
Netherlands
Registration number: 331305100000
date of issue: 1986-04-08
Starting date: 1984-01-01
End date: 2012-02-16
Management
J.J.G. van Buul
(Joseph Johannes Gerardus)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2010-05-01
Date of birth: 1968-08-07, Etten-Leur, NL
M.G.M. Lecat (Martial Gaston Maurice)
Netherlands
Function: Commissaris
Starting date: 2012-02-01
Date of birth: 1951-07-29, Millebosc, FR
P.P.J. Combette (Philippe Pierre Jean)
Netherlands
Function: Commissaris
Starting date: 2012-02-01
Date of birth: 1962-04-13, Nogent sur Marne,
FR
J.A. Guyon (Jean-Michel Albert)
Netherlands
Function: Commissaris
Starting date: 2012-02-01
Date of birth: 1967-09-13, La Tronche, FR
R.C.A. van den Berg (Rudolphus Cornelis
Anthonius)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1997-07-01
Date of birth: 1957-07-17, Haarlem, NL
C.M. de Haan (Cornelis Marinus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2000-05-01
Date of birth:
1957-07-27, Amsterdam, NL
ACTIVE MANAGEMENT
S.A. Groskamp (Stefan Arnold)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-01-01
Date of birth: 1980-02-29,
Wester-Koggenland, NL
R.P. Glas (Roy Pieter)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-12-01
Date of birth: 1978-11-14, Zaanstad, NL
Employees
Total according to the Chamber of Commerce 45
|
Year |
|
2014 |
2013 |
2012 |
2011 |
2010 |
|
Total |
|
45 |
45 |
45 |
48 |
48 |
Payments
Description Payments made under regular condition
|
Year |
2013 |
2012 |
|
Quick ratio |
2,31 |
2,12 |
|
Current ratio |
2,82 |
2,46 |
|
Working capital/ balance
total |
0,64 |
0,59 |
|
Equity / balance total |
0,65 |
0,59 |
|
Equity / Fixed assets |
43,31 |
115,11 |
|
Equity / liabilities |
1,85 |
1,47 |
|
Balance total /
liabilities |
2,85 |
2,47 |
|
Working capital |
13.731.540 |
11.934.705 |
|
Equity |
14.022.843 |
11.998.688 |
|
Mutation equity |
16,87 |
|
|
Mutation short term
liabilities |
-7,63 |
|
|
Return on total assets
(ROA) |
11,26 |
18,68 |
|
Return on equity (ROE) |
17,33 |
31,43 |
|
Year |
2013 |
2012 |
|
Gross profit margin |
4,84 |
6,39 |
|
Net profit margin |
4,10 |
0,40 |
|
Average collection ratio |
6,56 |
7,23 |
|
Average payment ratio |
5,55 |
6,54 |
|
Equity turnover ratio |
3,52 |
4,91 |
|
Total assets turnover
ratio |
2,29 |
2,92 |
|
Fixed assets turnover
ratio |
152,52 |
564,97 |
|
Inventory conversion ratio |
12,88 |
20,72 |
|
Turnover |
49.383.919 |
58.888.242 |
|
Gross margin |
6.942.213 |
8.509.398 |
|
Operating result |
2.388.830 |
3.762.151 |
|
Net result after taxes |
2.024.323 |
233.722 |
|
Cashflow |
2.087.455 |
269.525 |
|
Gross profit |
49.383.919 |
58.888.242 |
|
EBIT |
2.388.830 |
3.762.151 |
|
EBITDA |
2.451.962 |
3.797.954 |
Summary
The 2013 financial result structure is a postive working captial of
13.731.540 euro, which is in
agreement with 64 % of the total assets of the company.
The working capital has increased with 15.06 % compared to previous
year. The ratio, with
respect to the total assets of the company has however, increased.
The improvement between 2012 and 2013 has mainly been caused by an
increase of the
current assets.
The current ratio of the company in 2013 was 2.82. A company with a
current ratio between
1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2013 of the company was 2.31. A company with a Quick
Ratio of more than
1 can currently pay back its current liabilities.
The 2012 financial result structure is a postive working captial of
11.934.705 euro, which is in
agreement with 59 % of the total assets of the company.
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 2.12. A company with a Quick
Ratio of more than
1 can currently pay back its current liabilities.
Financial
statement
Last annual account 2013
Remark annual account The company is
obliged to file its financial statements.
Type of annual account Corporate
Annual account Necarbo
B.V.
Noorderkade 28
1948NR Beverwijk
Netherlands
Registration number: 340798310000
BALANCE SHEET
|
Year |
2013 |
2012 |
|
End date |
2013-12-31 |
2012-12-31 |
|
Tangible fixed assets |
323.794 |
104.233 |
|
Fixed assets |
323.794 |
104.233 |
|
Total stock |
3.835.637 |
2.842.170 |
|
Accounts receivable |
8.725.545 |
8.856.695 |
|
Other receivables |
177.561 |
152.433 |
|
Total receivables |
8.903.106 |
9.009.128 |
|
Securities |
1.858.876 |
1.371.469 |
|
Liquid funds |
6.661.493 |
6.861.704 |
|
Current assets |
21.259.112 |
20.084.471 |
|
Total assets |
21.582.906 |
20.188.704 |
|
Issued capital |
13.650 |
13.650 |
|
Legal and statutory
reserve |
|
31.350 |
|
Other reserves |
14.009.193 |
11.953.688 |
|
Total reserves |
14.009.193 |
11.985.038 |
|
Total equity |
14.022.843 |
11.998.688 |
|
Provisions |
32.491 |
40.250 |
|
Accounts payable |
4.805.356 |
4.633.106 |
|
Other short term
liabilities |
2.722.216 |
3.516.660 |
|
Short term liabilities |
7.527.572 |
8.149.766 |
|
Year |
2013 |
2012 |
|
End date |
2013-12-31 |
2012-12-31 |
|
Total short and long term liabilities |
7.560.063 |
8.190.016 |
|
Total liabilities |
21.582.906 |
20.188.704 |
Summary
The total assets of the company increased with 6.91 % between 2012 and
2013.
The total asset increase is retrievable in the fixed asset growth of
210.64 %.
The assets growth has been financed by a Net Worth increase of 16.87 %.
The company's
net increase has also covered a reduction of -7.69 % of the company's
indebtedness.
In 2013 the assets of the company were 1.5 % composed of fixed assets
and 98.5 % by
current assets. The assets are being financed by an equity of 64.97 %,
and total debt of
35.03 %.
In 2012 the assets of the company were 0.52 % composed of fixed assets
and 99.48 % by
current assets. The assets are being financed by an equity of 59.43 %,
and total debt of
40.57 %.
PROFIT & LOSS
|
Year |
2013 |
2012 |
|
Revenues |
49.453.036 |
59.034.197 |
|
Other operating income |
69.117 |
145.955 |
|
Net turnover |
49.383.919 |
58.888.242 |
|
Gross margin |
6.942.213 |
8.509.398 |
|
Wages and salaries |
2.959.297 |
3.398.997 |
|
Year |
2013 |
2012 |
|
|
|
|
|
Amortization and
depreciation |
63.132 |
35.803 |
|
Sales |
42.441.706 |
50.378.844 |
|
other operating costs |
1.600.071 |
1.458.402 |
|
Operating expenses |
47.064.206 |
55.272.046 |
|
Operating result |
2.388.830 |
3.762.151 |
|
Financial income |
42.020 |
8.958 |
|
Financial result |
42.020 |
8.958 |
|
Result on ordinary operations before taxes |
2.430.850 |
3.771.109 |
|
Taxation on the result of
ordinary activities |
406.527 |
3.589.654 |
|
Result of ordinary activities after taxes |
2.024.323 |
181.455 |
|
Extraordinary income |
|
52.267 |
|
Extraordinary result after
taxation |
|
52.267 |
|
Net result |
2.024.323 |
233.722 |
Summary
The turnover of the company decreased by -16.14 % between 2012 and 2013.
The gross profit of the company decreased by -18.42 % between 2012 and
2013.
The operating result of the company declined with -36.5 % between 2012
and 2013. 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 -39.72
% of the analysed period, being equal to 2012 % in the year 2013.
This fall has contributed to a asset turnover decrease, whose index
evolved from -21.58 to a
level of 2.29.
The Net Result of the company decreased by 766.12 % between 2012 and
2013.
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 -44.86 % of the analysed period, being 17.33 % in the year 2013.
The company's financial profitability has been positively affected by its
financial structure.
The company's Financial Profitability has been neutrally affected by the
financial activities in
comparison to the EBITs behaviour. The result of these variations is the
unchanged
profitability of the analysed period, remaining unchanged at 31.43 % in
the year 2012.
Analysis
Branch (SBI) Wholesale trade (no motor vehicles and motorcycles) (46)
Region Kennemerland
In the Netherlands 109662 of the companies are registered with the SBI code 46
In the region Kennemerland 2933 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 Kennemerland 57 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 Kennemerland is normal
Publications
Consent statements 13-03-2013: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.
04-04-2011: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.
Liability statements 17-02-2012: Per 16-02-2012 is een aansprakelijkheidsverklaring door PPG Coatings
Nederland B.V. ingetrokken.
Filings 03-06-2014: De jaarrekening over 2013 is gepubliceerd.
09-05-2013: De jaarrekening over 2012 is gepubliceerd.
Functions 13-01-2014: Per 01-12-2013 is gevolmachtigde Roy Pieter Glas in functie getreden.
11-04-2012: Per 01-02-2012 is commissaris Jean-Michel Albert Guyon in functie getreden.
11-04-2012: Per 01-02-2012 is commissaris Philippe Pierre Jean Combette in functie
getreden.
11-04-2012: Per 01-02-2012 is commissaris Martial Gaston Maurice Lecat in functie
getreden.
17-02-2012: Per 31-01-2012 is commissaris Jan Justine Henri Willemse uit functie getreden.
17-02-2012: Per 31-01-2012 is commissaris Stéphane Maurice René Beaucourt uit functie
getreden.
17-02-2012: Per 31-01-2012 is commissaris Thierry Michel Raoul René Robert Chevalier uit
functie getreden.
Amendments 12-07-2012: Per 9-7-2012 statuten gewijzigd.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.