MIRA
INFORM REPORT
|
Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
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Name : |
IRDETO B.V. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
21.06.1979 |
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Com. Reg. No.: |
34073774 |
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Legal Form : |
Private Company |
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Line of Business : |
Engineering activities and related technical consultancy on
electrotechnics |
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No of Employees : |
288 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Company |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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Source
: CIA |
Summary
Company name IRDETO B.V.
Operative address Taurusavenue 105
2132LS Hoofddorp
Legal form Private Company
Registration number KVK-nummer:
34073774
VAT-number
004870876
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed
assets |
117.844.000 |
24,65 |
94.543.534 |
18,70 |
79.645.851 |
|
Total
receivables |
98.567.000 |
-6,71 |
105.661.846 |
14,86 |
91.987.869 |
|
Total
equity |
117.857.000 |
35,77 |
86.809.055 |
10,94 |
78.245.731 |
|
Short term
liabilities |
122.593.000 |
1,25 |
121.076.137 |
10,98 |
109.094.787 |
|
Net result |
6.698.000 |
28,90 |
5.196.407 |
-76,23 |
21.862.084 |
|
Working
capital |
2.665.000 |
151,49 |
-5.175.322 |
-292,65 |
2.686.433 |
|
Quick ratio |
1,01 |
7,45 |
0,94 |
-6,93 |
1,01 |
CONTACT INFORMATION
Contact information
Company name Irdeto B.V.
Trade names Irdeto B.V.
Operative address Taurusavenue 105
2132LS Hoofddorp
Correspondence address Postbus 3047
2130KA Hoofddorp
Telephone number 0235562222
Fax number 0235562591
Email address corporate@irdeto.com
Website www.irdeto.com
Registration
Registration number KvK-nummer:
34073774
Registered in Kamer van
Koophandel
Branch number 000019029489
VAT-number 004870876
Status Active
Memorandum 1979-06-21
Establishment date 1979-06-21
Legal form Private Company
Last proposed amendment 2010-10-05
Activities
SBI Engineering
activities and related technical consultancy on electrotechnics (711204)
Exporter No
Importer No
Goal Development and sale of industrial and intellectual property, and the development of systems to enlicentiering security, authentication and access authorization to (digital) information and content in digital media assets
Relations
Shareholders Irdeto Corporate B.V.
Taurusavenue 105
2132LS HOOFDDORP
Registration number: 340831740000
Percentage: 100%
Companies on same address Amount: 51
Liability statements Irdeto Corporate B.V.
Taurusavenue 105
2132LS HOOFDDORP
Registration number: 340831740000
date of issue: 2005-04-20
Starting date: 2002-10-17
End date: 2013-01-30
Bank details
Accounts ABN Amro Bank NV
Account number:
54.83.50.922
Management
Irdeto Corporate
B.V.
Taurusavenue 105
2132LS HOOFDDORP
Registration number: 340831740000
Competence: Fully authorized
Function: Manager
Starting date: 1998-01-13
G.A. Kill (Graham Andrew)
Competence: Fully authorized
Function: Manager
Starting date: 1999-04-01
Date of birth: 1965-05-12, Londen, GB
G.H. Knoop (Germon Hans)
Competence: Fully authorized
Function: Manager
Starting date: 2010-06-28
Date of birth: 1965-12-19,
ACTIVE MANAGEMENT
A.A. Wajs (Andrew Augustine)
Competence: Fully authorized
Function: Manager
Starting date: 2012-05-09
Date of birth: 1965-05-18, Bexley, GB
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EMPLOYEES
|
|||||
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Total |
288 |
295 |
312 |
290 |
150 |
Payments
Score 7,6
Description Payments made under
regular condition
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KEY
FIGURES |
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Year |
2014 |
2013 |
2012 |
2011 |
|
Quick ratio |
1,01 |
0,94 |
1,01 |
1,03 |
|
Current
ratio |
1,02 |
0,96 |
1,02 |
1,05 |
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||||
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Working
capital/ balance total |
0,01 |
-0,02 |
0,01 |
0,03 |
|
Equity /
balance total |
0,48 |
0,41 |
0,41 |
0,30 |
|
Equity /
Fixed assets |
1,00 |
0,92 |
0,98 |
1,04 |
|
Equity /
liabilities |
0,94 |
0,70 |
0,69 |
0,42 |
|
Balance
total / liabilities |
1,94 |
1,70 |
1,69 |
1,42 |
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|
||||
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Working
capital |
2.665.000 |
-5.175.322 |
2.686.433 |
5.766.876 |
|
Equity |
117.857.000 |
86.809.055 |
78.245.731 |
53.006.266 |
|
Mutation
equity |
35,77 |
10,94 |
47,62 |
|
|
Mutation
short term liabilities |
1,25 |
10,98 |
-10,17 |
|
|
|
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Return on
total assets (ROA) |
2,56 |
3,35 |
15,67 |
14,35 |
|
Return on
equity (ROE) |
5,27 |
8,13 |
38,34 |
48,21 |
|
Gross
profit margin |
3,52 |
5,39 |
20,88 |
19,50 |
|
Net profit
margin |
3,23 |
4,11 |
15,73 |
15,13 |
|
|
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Average
collection ratio |
1,69 |
1,04 |
1,27 |
1,15 |
|
Average
payment ratio |
2,11 |
1,20 |
1,51 |
1,41 |
|
Equity
turnover ratio |
1,76 |
1,46 |
1,78 |
2,63 |
|
Total
assets turnover ratio |
0,85 |
0,60 |
0,73 |
0,78 |
|
Fixed
assets turnover ratio |
1,76 |
1,34 |
1,74 |
2,74 |
|
Inventory
conversion ratio |
204,49 |
82,99 |
77,60 |
53,44 |
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|
||||
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Turnover |
207.560.000 |
126.438.105 |
138.975.739 |
139.326.393 |
|
Gross
margin |
175.895.000 |
100.484.182 |
109.514.823 |
110.526.505 |
|
Operating
result |
7.296.000 |
6.819.992 |
29.015.423 |
27.167.594 |
|
Net result
after taxes |
6.698.000 |
5.196.407 |
21.862.084 |
21.076.231 |
|
Year |
2014 |
2013 |
2012 |
2011 |
|
Cash FLOW |
11.127.000 |
8.595.080 |
28.581.910 |
28.181.883 |
|
EBIT |
7.296.000 |
6.819.992 |
29.015.423 |
27.167.594 |
|
EBITDA |
11.725.000 |
10.218.664 |
35.735.250 |
34.273.247 |
SUMMARY
The 2014 financial result structure is a postive working captial of 2.665.000 euro, which is in agreement with 1 % of the total assets of the company.
The working capital has increased with 151.49 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2013 and 2014 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2014 was 1.02. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2014 of the company was 1.01. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.
The 2013 financial result structure is a negative working captial of -5.175.322 euro, which is in agreement with -2 % of the total assets of the company.
The working capital has diminished with -292.65 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined. The deterioration between 2012 and 2013 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2013 was 0.96. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2013 of the company was 0.94. A company with a Quick Ratio of less than 1 cannot 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 Irdeto B.V.
Taurusavenue 105
2132LS Hoofddorp
Registration number: 340737740000
|
Year End date |
2014 2014-03-31 |
2013 2013-03-31 |
2012 2012-03-31 |
2011 2011-03-31 |
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|
Intangible fixed assets |
3.174.000 |
2.238.188 |
2.167.565 |
5.093.968 |
|
|
Tangible fixed assets |
12.655.000 |
11.819.601 |
13.297.394 |
13.904.414 |
|
|
Financial fixed assets |
102.015.000 |
80.485.744 |
64.180.892 |
31.827.269 |
|
|
Fixed assets |
117.844.000 |
94.543.534 |
79.645.851 |
50.825.651 |
|
|
Total stock |
1.015.000 |
1.523.624 |
1.790.955 |
2.607.166 |
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|
Accounts
receivable |
19.665.000 |
17.207.340 |
14.502.845 |
16.785.388 |
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Other
receivables |
78.902.000 |
88.454.506 |
77.485.024 |
81.889.916 |
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Total receivables |
98.567.000 |
105.661.846 |
91.987.869 |
98.675.304 |
|
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Liquid
funds |
25.676.000 |
8.715.345 |
18.002.396 |
25.931.584 |
|
|
Current assets |
125.258.000 |
115.900.815 |
111.781.220 |
127.214.054 |
|
|
Total assets |
243.102.000 |
210.444.349 |
191.427.071 |
178.039.705 |
|
|
Issued capital |
139.000 |
81.218 |
77.868 |
73.203 |
|
|
Share
premium reserve |
1.000 |
781 |
749 |
704 |
|
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Other
reserves |
111.019.000 |
81.530.649 |
56.305.031 |
31.856.128 |
|
|
Non-distributable
profit |
6.698.000 |
5.196.407 |
21.862.084 |
21.076.231 |
|
|
Total reserves |
117.718.000 |
86.727.837 |
78.167.864 |
52.933.063 |
|
|
Total equity |
117.857.000 |
86.809.055 |
78.245.731 |
53.006.266 |
|
|
Provisions |
1.078.000 |
1.220.617 |
2.435.609 |
1.706.905 |
|
|
Long term
interest yielding debt |
1.574.000 |
1.338.540 |
1.650.943 |
1.879.355 |
|
|
Long term liabilities |
1.574.000 |
1.338.540 |
1.650.943 |
1.879.355 |
|
|
Accounts
payable |
17.135.000 |
10.059.351 |
8.671.758 |
11.117.055 |
|
|
Other short
term liabilities |
105.458.000 |
111.016.786 |
100.423.029 |
110.330.123 |
|
|
Short term liabilities |
122.593.000 |
121.076.137 |
109.094.787 |
121.447.178 |
|
|
Total short and long term
liabilities |
125.245.000 |
123.635.293 |
113.181.340 |
125.033.438 |
|
|
Total liabilities |
243.102.000 |
210.444.349 |
191.427.071 |
178.039.705 |
|
SUMMARY
The total assets of
the company increased with 15.52 % between 2013 and 2014.
The total asset
increase is retrievable in the fixed asset growth of 24.65 %.
The asset growth
has mainly been financed by a Net Worth increase of 35.77 %. Debt, however,
grew with 1.3 %.
In 2014 the assets
of the company were 48.48 % composed of fixed assets and 51.52 % by current
assets.
The assets are
being financed by an equity of 48.48 %, and total debt of 51.52 %.
The total assets of
the company increased with 9.93 % between 2012 and 2013.
The total asset increase is retrievable in the fixed asset growth of 18.7 %.
The asset growth has mainly been financed by a Net Worth increase of 10.94 %. Debt, however, grew with 9.24 %.
In 2013 the assets of the company were 44.93 % composed of fixed assets and 55.07 % by current assets. The assets are being financed by an equity of 41.25 %, and total debt of
58.75 %.
|
Year |
2014 |
2013 |
2012 |
2011 |
|
|
Revenues |
207.560.000 |
126.438.105 |
138.975.739 |
139.326.393 |
|
|
Net turnover |
207.560.000 |
126.438.105 |
138.975.739 |
139.326.393 |
|
|
Gross margin |
175.895.000 |
100.484.182 |
109.514.823 |
110.526.505 |
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|
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Wages and
salaries |
89.936.000 |
34.249.120 |
32.450.584 |
56.383.475 |
|
|
Amortization
and depreciation |
4.429.000 |
3.398.672 |
6.719.826 |
7.105.652 |
|
|
Sales |
31.665.000 |
25.953.923 |
29.460.916 |
28.799.888 |
|
|
other
operating costs |
74.234.000 |
56.016.397 |
41.328.990 |
19.869.783 |
|
|
Operating
expenses |
200.264.000 |
119.618.113 |
109.960.316 |
112.158.799 |
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|
Operating result |
7.296.000 |
6.819.992 |
29.015.423 |
27.167.594 |
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|
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Financial
income |
1.153.000 |
1.768.840 |
2.130.877 |
1.310.622 |
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|
Financial
expenses |
2.235.000 |
1.532.214 |
1.147.050 |
2.923.911 |
|
|
Financial
result |
-1.082.000 |
236.626 |
983.827 |
-1.613.289 |
|
|
Result on ordinary operations
before taxes |
6.214.000 |
7.056.618 |
29.999.251 |
25.554.305 |
|
|
Year |
2014 |
2013 |
2012 |
2011 |
|
Taxation on
the result of ordinary activities |
-484.000 |
1.860.211 |
8.137.167 |
4.478.074 |
|
Result of ordinary activities after
taxes |
6.698.000 |
5.196.407 |
21.862.084 |
21.076.231 |
|
Net result |
6.698.000 |
5.196.407 |
21.862.084 |
21.076.231 |
SUMMARY
The turnover of the
company grew with 64.16 % between 2013 and 2014.
The gross profit of
the company grew with 75.05 % between 2013 and 2014.
The operating
result of the company grew with 6.98 % between 2013 and 2014. 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 -23.58 % of
the analyzed period, being equal to 2013 % in the year 2014.
Despite the decline
the assets turnover increased by 41.67 % reaching 0.85.
The Net Result of
the company decreased by 28.9 % between 2013 and 2014.
The company's
Financial Profitability has been negatively affected by the financial
activities in comparison to the EBITs behavior. The result of these variations
is a profitability reduction of -35.18 % of the analyzed period, being 5.27 %
in the year 2014.
The company's
financial profitability has been positively affected by its financial
structure.
The turnover of the
company decreased by -9.02 % between 2012 and 2013.
The gross profit of
the company decreased by -8.25 % between 2012 and 2013.
The operating
result of the company declined with -76.5 % 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 -78.62 % of
the analyzed period, being equal to 2012 % in the year 2013.
This fall has
contributed to a asset turnover decrease, whose index evolved from -17.81 to a
level of 0.6.
The Net Result of
the company increased by -76.23 % 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 -78.79 % of the analyzed period, being 8.13 %
in the year 2013.
The company's
financial profitability has been positively affected by its financial
structure.
ANALYSIS
Branch (SBI)
Architects, engineers and technical design and consultancy; testing and
analysis (71)
REGION
Kennemerland
In the
In the region Kennemerland 1369 of the companies are registered with the
SBI code 71
In the
In the region Kennemerland 14 of the bankruptcies are published within
this sector
The risk of this specific sector in the
The risk of this specific sector in the region Kennemerland is normal
PUBLICATIONS
Consent statements
14-11-2012: Voor boekjaar 2008 is een instemmingsverklaring gedeponeerd.
14-11-2012: Voor boekjaar 2009 is een instemmingsverklaring gedeponeerd.
14-11-2012: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.
24-10-2012: Voor boekjaar 2007 is een instemmingsverklaring gedeponeerd.
29-09-2010: Voor boekjaar 2000 is een instemmingsverklaring gedeponeerd.
29-09-2010: Voor boekjaar 2001 is een instemmingsverklaring gedeponeerd.
Liability statements
05-02-2013: Per 30-01-2013 is een aansprakelijkheidsverklaring door
Irdeto Corporate B.V. ingetrokken.
Filings
04-08-2014: De jaarrekening over 2014 (gebroken boekjaar) is
gepubliceerd.
19-08-2013: De jaarrekening over 2013 (gebroken boekjaar) is
gepubliceerd.
24-04-2013: De jaarrekening over 2012 (gebroken boekjaar) is
gepubliceerd.
18-02-2013: De jaarrekening over 2011 (gebroken boekjaar) is
gepubliceerd.
Functions
22-05-2012: Per 09-05-2012 is bestuurder Andrew Augustine Wajs in
functie getreden.
22-05-2012: Per 09-05-2012 is bestuurder Vasileios Sgourdos uit functie
getreden.
22-05-2012: Per 09-05-2012 is bestuurder Jacobus Petrus Bekker uit
functie getreden.
Mergers
18-08-2014: Op 15-08-2014 fusievoorstel gedeponeerd. Verkrijgende
rechtspersoon: Irdeto
B.V., 34073774 Verdwijnende rechtspersoon: Irdeto Corporate B.V.,
34083174.
13-10-2010: Op 05-10-2010 fusieakte verleden. Verkrijgende
rechtspersoon: Irdeto B.V.,
34073774 Verdwijnende rechtspersoon: Irdeto BSS B.V., 34299118.
Amendments
13-10-2010: Per 5-10-2010 statuten gewijzigd. Per 6-10-2010 naam
gewijzigd in: Irdeto B.V..
COMPANY STRUCTURE
Relations
30
MIH Holdings Limited
• Myriad International
Holdings B.V.
Taurusavenue 105
2132LS HOOFDDORP
Registration number: 340998560000
• Irdeto Holdings B.V.
Taurusavenue 105
2132LS HOOFDDORP
Registration number: 341221260000
• Irdeto Corporate B.V.
Taurusavenue 105
2132LS HOOFDDORP
Registration number: 340831740000
• Irdeto B.V.
Taurusavenue 105
2132LS Hoofddorp
Registration number: 340737740000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.84 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
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.