MIRA INFORM REPORT

 

 

Report Date :

09.09.2014

 

IDENTIFICATION DETAILS

 

Name :

AURUBIS NETHERLANDS B.V.

 

 

Registered Office :

Oostzeestraat 1 7202CM Zutphen

 

 

Country :

Netherlands

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

09.06.2011

 

 

Com. Reg. No.:

52930610

 

 

Legal Form :

Private Company

 

 

Line of Business :

·         VNMI - Dutch Association of Metallurgical Industry

·         Production and trade in all types of (semi) finished products of non-ferrous metals and perform all other acts of commercial, industrial or financial nature.

 

 

No. of Employees

156

 

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 :

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 – 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

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

 

 

 

Summary

 

Company name

AURUBIS NETHERLANDS B.V.

Operative address

Oostzeestraat 1

 

7202CM Zutphen

 

Netherlands

Risk

Average risk

Status

Active

Specification

This company can meet all its obligations.

 

Legal form                            Private Company

Registration number             52930610

VAT-number                        850670676

 

Year

2012

Mutation

Mutation

Fixed assets

34.921.000

 

 

Total receivables

20.916.000

 

 

 

Total equity

11.197.000

 

 

Short term liabilities

13.606.000

 

 

 

Net result

-2.819.000

 

 

 

Working capital

41.616.000

 

 

Quick ratio

2,01

 

 

 

 

 

Contact information

 

Company name                         Aurubis Netherlands B.V.

Trade names                             Aurubis Netherlands B.V.

Operative address                      Oostzeestraat 1

7202CM Zutphen

Netherlands

 

Correspondence address            Oostzeestraat 1

7202CM Zutphen

Netherlands

 

Telephone number                      0575594594

Email address                           info.zutphen@aurubis.com

Website                                    www.aurubis.com

 

 

Registration

 

Registration number                               52930610

Branch number                                      000022824391

VAT-number                                          850670676

 

Status                                                   Active

First registration company register           2011-06-14

Memorandum                                        2011-06-09

Establishment date                                2011-06-09

 

Legal form                                             Private Company

Last proposed admendment                    2011-12-27

 

 

Activities

 

SBI                               Copper production (2444)

Financial holding (642)

Exporter                        No

Importer                        No

Branche organisations    VNMI - Dutch Association of Metallurgical Industry

Goal                             Production and trade in all types of (semi) finished products of non-ferrous metals and perform all other acts of commercial, industrial or financial nature.

 

 

Relations

 

Shareholders                 Naam: Aurubis Belgium NV/SA

Bezoekadres:    Rue de Marais 31, B-1000 Brussel, België

Ingeschreven in: Kruispuntbank van Ondernemingen Brussel, België onder nummer 0873.533.993

Enig aandeelhouder sedert:  09-06-2011 (datum registratie: 14-06-2011)

 

Companies on same address

Personeelsvereniging Luvata

Registration number: 401013320000

Stichting Sociaal Fonds Luvata Netherlands B.V.

Registration number: 081549070000

Bedrijfsartsenpraktijk Minjon

Registration number: 081963330000

Companies on same address

BCPC B.V.

Registration number: 562455990000

 

 

Management

 

Active Management                    T. Sturm (Thomas)

Netherlands

Competence: Fully authorized

Function: General Director

Starting date: 2013-10-01

Date of birth: 1969-07-24, Rheinfelden, DE

A.C.P.L. van Overveld (Antonius Cornelis Petrus Ludov)

Netherlands

Function: Commissaris

Starting date: 2012-03-01

Date of birth: 1946-06-06, Roosendaal en Nispen, NL

Involved with the following companies

• Stichting Tweesteden Ziekenhuis

Dr. Deelenlaan 5

5042AD Tilburg

Netherlands

Registration number: 41098685

Function: Commissaris

A.J. Ingman (Ari Juhani)

Netherlands

Function: Commissaris

Starting date: 2012-03-01

Date of birth: 1951-04-01, Vihti, FI

S.C.R.J. Boel (Stefan Cyriel Robert Jean)

Netherlands

Function: Commissaris

Starting date: 2012-03-01

Date of birth: 1966-06-09, Hamme, BE

G. Vriezekolk (Gerritje)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-09-01

Date of birth: 1968-05-07, Apeldoorn, NL

W.J.P. Eijkelkamp - Meijerman (Wilhelmina Johanna Petronella)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-09-01

Date of birth: 1966-09-26, Doetinchem, NL

I. Wiltink - Simon (Ilona)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-09-01

Date of birth: 1961-09-04, Deventer, NL

Active management

G.J. Brouwer (Gerrit Jan)

Netherlands

Competence: Limited authorization

 

Function: Proxy

Starting date: 2011-09-01

Date of birth: 1953-09-21, Voorst, NL

D. de Jong (Dirk)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-09-01

Date of birth: 1964-11-18, Bunschoten, NL

D. Smits (Daniëlle)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-09-01

Date of birth: 1964-07-27, Ede, NL

A.G. Helmus (Alfred Gerard)

Netherlands

Competence: Fully authorized

Function: Proxy

Starting date: 2013-03-01

Date of birth: 1972-09-19, Groningen, NL

 

 

Employees

 

Total according to the Chamber of Commerce 156

Year                             2014                 2013                 2012                 2011

Total                             156                   156                   195                   156

 

 

 

Payments

 

Description

Payments are made regularly no complaints are known

 

 

 

Key figures

 

Year

2012

 

Quick ratio

2,01

 

Current ratio

4,06

 

 

Working capital/ balance total

0,46

 

Aurubis Netherlands B.V. Page: 4 / 9

04-09-2014

Applicant MIRA INFORM

 

 

Year

2012

Equity / balance total

0,12

Equity / Fixed assets

0,32

Equity / liabilities

0,14

Balance total / liabilities

1,14

 

Working capital

41.616.000

Equity

11.197.000

Return on total assets (ROA)

-11,19

Return on equity (ROE)

-90,05

Gross profit margin

-4,90

Net profit margin

-1,57

 

Average collection ratio

13,24

Average payment ratio

8,61

Equity turnover ratio

16,09

Total assets turnover ratio

2,00

Fixed assets turnover ratio

5,16

Inventory conversion ratio

6,47

 

Turnover

180.105.000

Gross margin

2.299.000

Operating result

-8.820.000

Net result after taxes

-2.819.000

 

Cashflow

3.240.000

EBIT

-8.820.000

EBITDA

-2.761.000

Summary

The 2012 financial result structure is a postive working captial of 41.616.000 euro, which is in agreement with 46 % of the total assets of the company.

The current ratio of the company in 2012 was 4.06. If the current ratio exeeds 3.0, the company may not be using its current assets or its short-term financing facilities efficiently . The quick ratio in 2012 of the company was 2.01. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial statement

 

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

Type of annual account Corporate

Annual account Aurubis Netherlands B.V.

Oostzeestraat 1

7202CM Zutphen

Netherlands

Registration number: 529306100000

 

Year

2012

 

End date

2012-09-30

 

Tangible fixed assets

30.941.000

 

Financial fixed assets

3.980.000

 

Fixed assets

34.921.000

 

 

Total stock

27.820.000

 

Accounts receivable

18.629.000

Other receivables

2.287.000

Total receivables

20.916.000

 

Liquid funds

6.486.000

Current assets

55.222.000

 

Total assets

90.143.000

 

Other Reserve

14.016.000

 

Non-distributable profit

2.819.000

Total reserves

19.654.000

Total equity

11.197.000

 

 

Provisions

3.692.000

Long term interest yielding debt

61.648.000

Long term liabilities

61.648.000

 

Accounts payable

11.290.000

Other short term liabilities

2.316.000

Short term liabilities

13.606.000

 

 

Year

2012

 

End date

2012-09-30

 

Total short and long term liabilities

78.946.000

 

Total liabilities

90.143.000

 

 

Summary                     In 2012 the assets of the company were 38.74 % composed of fixed assets and 61.26 % by current assets. The assets are being financed by an equity of 12.42 %, and total debt of 87.58 %.

 

 

 

 

Profit and loss

 

Year                                                     2012

Revenues                                              180.105.000

Net turnover                                         180.105.000

Gross margin                                       2.299.000

Amorization and depreciation                  6.059.000

Sales                                                    177.806.000

other operating costs                              5.060.000

Operating expenses                               188.925.000

Operating result                                   -8.820.000

Financial income                                    140.000

Financial expenses                                1.403.000

 

Year                                                                 2012

Financial result                                                  -1.263.000

Result on ordinary operations before taxes     -10.083.000

Taxation on the result of ordinary activities           -745.000

Result of ordinary activities after taxes           -9.338.000

Extraordinary income                                         7.032.000

Extraordinary expense                                        513.000

Extraordinary result after taxation                       6.519.000

Net result                                                         -2.819.000

 

 

 

 

Analysis

 

Branch (SBI)                  MANUFACTURE OF BASIC METALS (24)

Region                          Achterhoek

In the Netherlands 556 of the companies are registered with the SBI code 24

In the region Achterhoek 19 of the companies are registered with the SBI code 24

In the Netherlands 26 of the bankrupcties are published within this sector

In the region Achterhoek 2 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is Highest

The risk of this specific sector in the region Achterhoek is Highest

 

Publications

Filings 03-07-2013: De jaarrekening over 2012 (gebroken boekjaar) is gepubliceerd.

Functions 04-10-2013: Per 30-09-2013 is bestuurder Theodorus Johannes Cornelius Maria Mimpen uit functie getreden.

04-10-2013: Per 01-10-2013 is bestuurder Thomas Sturm in functie getreden.

21-03-2013: Per 01-03-2013 is gevolmachtigde Alfred Gerard Helmus in functie getreden.

03-01-2013: Per 31-12-2012 is gevolmachtigde Jakob de Vries uit functie getreden.

28-03-2012: Per 01-03-2012 is bestuurder Ari Juhani Ingman uit functie getreden.

28-03-2012: Per 01-03-2012 is commissaris Stefan Cvriel Robert Jean Boel in functie

getreden.

28-03-2012: Per 01-03-2012 is commissaris Ari Juhani Inoman in functie getreden.

28-03-2012: Per 01-03-2012 is commissaris Antonius Cornelis Petrus Ludovicus van

Overveld in functie getreden.

27-01-2012: Per 01-09-2011 is gevolmachtigde Dirk de Jong in functie getreden.

27-01-2012: Per 01-09-2011 is gevolmachtigde Daniëlle Smits in functie getreden.

08-09-2011: Per 01-09-2011 is bestuurder Björn Carsten Frenzel uit functie getreden.

01-09-2011: Per 01-09-2011 is bestuurder Theodorus Johannes Cornelius Maria Mimpen in functie getreden.

01-09-2011: Per 01-09-2011 is gevolmachtigde Jakob de Vries in functie getreden.

17-08-2011: Per 08-08-2011 is bestuurder Aage Ulf Barfuss uit functie getreden.

14-06-2011: Per 09-06-2011 is bestuurder Ari Juhani Ingman in functie getreden.

14-06-2011: Per 09-06-2011 is bestuurder Björn Carsten Frenzel in functie getreden.

14-06-2011: Per 09-06-2011 is bestuurder Aage Ulf Barfuss in functie getreden.

Amendments 04-01-2012: Per 27-12-2011 statuten gewijzigd.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.26

UK Pound

1

Rs.97.51

Euro

1

Rs.77.94

                

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

               

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.