MIRA INFORM REPORT

 

 

Report Date :

29.09.2014

 

IDENTIFICATION DETAILS

 

Name :

JANSEN RECYCLING GROUP B.V.

 

 

Registered Office :

Nijmegenstraat 3-17, 3087CD Rotterdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

22.01.1987

 

 

Com. Reg. No.:

24163546

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale usable metals, scrap metal, scrap. Wholesale of ships, vessels and wrecking it.

 

 

No of Employees :

30

 

 

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 :

Slow but correct

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                       JANSEN RECYCLING GROUP B.V.

Operative address                   Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Legal form                               Private Company

Registration number                KvK-nummer: 24163546

VAT-number                            008155069

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

154.743

14,00

135.734

-41,50

232.013

Total receivables

7.761.067

-50,26

15.602.754

16,30

13.415.721

Total equity

14.688.184

-4,72

15.416.256

20,22

12.823.461

Short term liabilities

17.663.442

-27,28

24.288.223

9,62

22.156.510

Net result

-728.072

-128,08

2.592.794

34,03

1.934.513

Working capital

15.323.444

-6,79

16.440.529

20,29

13.667.570

Quick ratio

0,44

-31,25

0,64

4,92

0,61

 

 

 

Contact information

 

Company name                       Jansen Recycling Group B.V.

Trade names                           Jansen Recycling Group B.V.

Operative address                   Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Correspondence address         Postbus 59022

3008PA Rotterdam

Netherlands

Telephone number                  0104911370

Fax number                             0104298108

Email address                          info@macj.nl

Website                                   www.macj.nl

 

 

Registration

 

Registration number                            KvK-nummer: 24163546

Branch number                                    000019290292

VAT-number                                        008155069

Status                                                  Active

First registration company register      1987-01-22

Memorandum                                      1987-03-19

Establishment date                              1987-01-01

Legal form                                           Private Company

Legal person since                              1987-03-19

Last proposed admendment                2014-02-13

 

 

Activities

 

SBI                                                       Collection of non-hazardous waste (3811)

Exporter                                               No

Importer                                               No

Goal                                                     Wholesale usable metals, scrap metal, scrap. Wholesale of ships, vessels and wrecking it.

 

 

Relations

 

Shareholders                                       Jansen Recycling Groep B.V.

Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Registration number: 241847710000

Percentage: 100%

 

 

Branches

 

Jansen Recycling Group B.V.

Van Leeuwenhoekweg 21

3316AV DORDRECHT

Netherlands

Registration number: 241635460000

COMPANIES ON SAME ADDRESS

 

Jansen Recycling Groep B.V.

Registration number: 241847710000

 

 

Management

 

ACTIVE MANAGEMENT

 

Jansen Recycling Groep B.V.

Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Registration number: 241847710000

Competence: Fully authorized

Function: General Director

Starting date: 2011-10-01

 

H. van Mourik (Huibert)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2014-06-18

Date of birth: 1954-02-05, Dubbeldam, NL

 

EMPLOYEES

Year

2013

2012

2011

2010

2009

Total

30

28

24

5

5

 

 

 

KEY FIGURES

 

Year

2013

2012

2011

2010

2009

 

Quick ratio

0,44

0,64

0,61

0,86

0,61

 

Current ratio

1,87

1,68

1,62

1,85

1,37

 

Working capital/ balance total

0,46

0,40

0,38

0,45

0,26

 

Equity / balance total

0,44

0,38

0,36

0,43

0,27

 

Equity / Fixed assets

94,92

113,58

55,27

34,88

12,57

 

Equity / liabilities

0,80

0,61

0,55

0,76

0,37

 

Balance total / liabilities

1,80

1,61

1,55

1,76

1,37

 

Working capital

15.323.444

16.440.529

13.667.570

15.623.098

7.484.331

 

Equity

14.688.184

15.416.256

12.823.461

14.888.948

7.583.969

Mutation equity

-4,72

20,22

-13,87

96,32

301,90

Mutation short term liabilities

-27,28

9,62

20,92

-9,20

41,47

Return on total assets (ROA)

-2,93

8,46

7,15

28,44

26,31

Return on equity (ROE)

-6,61

22,43

20,11

65,65

98,05

Gross profit margin

 

2,22

1,57

5,31

8,19

Net profit margin

 

1,38

0,94

4,04

6,72

Average collection ratio

 

7,72

9,26

9,86

4,08

Average payment ratio

 

12,02

15,29

11,56

7,05

Equity turnover ratio

 

12,17

16,00

12,14

10,86

Total assets turnover ratio

 

4,59

5,69

5,26

2,91

Fixed assets turnover ratio

 

1.381,77

884,18

423,27

136,55

Inventory conversion ratio

 

7,47

9,16

9,90

5,34

Turnover

 

187.553.359

205.141.660

180.679.833

82.363.424

Gross margin

 

9.525.394

8.735.393

13.810.019

10.161.966

Operating result

 

4.158.407

3.230.748

9.602.271

6.742.928

Net result after taxes

 

2.592.794

1.934.513

7.304.979

5.538.591

Cashflow

 

2.689.073

2.191.150

7.546.802

5.780.100

Gross profit

 

--

205.141.660

180.679.833

82.363.424

EBIT

 

4.158.407

3.230.748

9.602.271

6.742.928

EBITDA

 

4.254.686

3.487.385

9.844.094

6.984.437

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 15.323.444 euro, which is in agreement with 46 % of the total assets of the company.

 

The working capital has diminished with -6.79 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

The deterioration between 2012 and 2013 has mainly been caused by a reduction of the current assets.

 

The current ratio of the company in 2013 was 1.87. 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 0.44. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

The 2012 financial result structure is a postive working captial of 16.440.529 euro, which is in agreement with 40 % of the total assets of the company.

The working capital has increased with 20.29 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

 

The improvement between 2011 and 2012 has mainly been caused by an increase of the current assets.

The current ratio of the company in 2012 was 1.68. 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 0.64. 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                                   Jansen Recycling Group B.V.

Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Registration number: 241635460000

 

Balance sheet

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

154.743

135.734

232.013

426.863

603.157

Fixed assets

154.743

135.734

232.013

426.863

603.157

Total stock

25.203.907

25.121.951

22.387.009

18.258.522

15.417.810

Accounts receivable

 

14.482.618

11.920.295

13.282.998

11.270.169

Other receivables

 

1.120.136

1.495.426

2.352.703

414.269

Total receivables

7.761.067

15.602.754

13.415.721

15.635.701

11.684.438

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Securities

 

 

 

 

343.208

Liquid funds

21.912

4.047

21.350

52.345

219.731

Current assets

32.986.886

40.728.752

35.824.080

33.946.568

27.665.187

Total assets

33.141.629

40.864.486

36.056.093

34.373.431

28.268.344

Issued capital

45.378

45.378

45.378

45.378

45.378

Other reserves

14.642.806

15.370.878

12.778.083

14.843.570

2.000.000

Non-distributable profit

 

 

 

 

5.538.591

Total reserves

14.642.806

15.370.878

12.778.083

14.843.570

7.538.591

Total equity

14.688.184

15.416.256

12.823.461

14.888.948

7.583.969

Provisions

790.003

1.160.007

1.076.122

1.161.013

503.519

Accounts payable

 

2.775.210

1.473.249

5.042.766

1.925.049

Other short term liabilities

 

21.513.013

20.683.261

13.280.704

18.255.807

Short term liabilities

17.663.442

24.288.223

22.156.510

18.323.470

20.180.856

Total short and long term liabilities

18.453.445

25.448.230

23.232.632

19.484.483

20.684.375

Total liabilities

33.141.629

40.864.486

36.056.093

34.373.431

28.268.344

 

 

Summary

 

The total assets of the company decreased with -18.9 % between 2012 and 2013. Despite the total assets decrease, non current assets grew with 14 %. Assets reduction is explained by a Net Worth decrease of -4.72 %, and an indebtedness reduction of -27.49 %. In 2013 the assets of the company were 0.47 % composed of fixed assets and 99.53 % by current assets. The assets are being financed by an equity of 44.32 %, and total debt of

55.68 %.

 

The total assets of the company increased with 13.34 % between 2011 and 2012. Despite the assets growth, the non current assets decreased with -41.5 %. The asset growth has mainly been financed by a Net Worth increase of 20.22 %. Debt, however, grew with 9.54 %. In 2012 the assets of the company were 0.33 % composed of fixed assets and 99.67 % by current assets. The assets are being financed by an equity of 37.73 %, and total debt of

62.27 %.

 

 

 

Profit & Loss

 

Year

2013

2012

2011

2010

2009

Revenues

 

187.553.359

205.156.663

180.801.823

82.368.959

Other operating income

 

 

15.003

121.990

5.535

Net turnover

 

187.553.359

205.141.660

180.679.833

82.363.424

Gross margin

4.645.898

9.525.394

8.735.393

13.810.019

10.161.966

Wages and salaries

1.301.338

1.704.892

1.839.710

1.521.019

989.030

Amorization and depreciation

43.467

96.279

256.637

241.823

241.509

Sales

 

178.027.965

196.406.267

166.869.814

72.201.458

other operating costs

3.221.157

3.565.816

3.423.301

2.566.896

2.194.034

Operating expenses

4.565.962

183.394.952

201.925.915

171.199.552

75.626.031

Operating result

79.936

4.158.407

3.230.748

9.602.271

6.742.928

Financial income

 

204.112

331.194

471.165

1.136.749

Financial expenses

1.050.699

905.416

982.591

299.265

443.525

Financial result

-1.050.699

-701.304

-651.397

171.900

693.224

Result on ordinary operations before taxes

-970.763

3.457.103

2.579.351

9.774.171

7.436.152

Taxation on the result of ordinary activities

242.691

864.309

644.838

2.469.192

1.897.561

Result of ordinary activities after taxes

-728.072

2.592.794

1.934.513

7.304.979

5.538.591

 

Net result

-728.072

2.592.794

1.934.513

7.304.979

5.538.591

Attributable to shareholder

-728.072

 

 

 

 

 

 

Summary

 

The result of these changes is a reduction of the company's Economic Profitability of -134.63 % of the analyzed period, being equal to 2012 % in the year 2013. 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 analyzed period, remaining unchanged at -6.61 % in the year 2013. The company's financial profitability has been positively affected by its financial structure.

 

The turnover of the company decreased by -8.57 % between 2011 and 2012. The gross profit of the company grew with 9.04 % between 2011 and 2012. The operating result of the company grew with 28.71 % between 2011 and 2012. This evolution implies an increase of the company's economic profitability. The result of these changes is an increase of the company's Economic Profitability of 18.32 % of the analysed period, being equal to 2011 % in the year 2012. Despite the growth the assets turnover decreased, whose index evolved with -19.33 % to a level of 4.59.

 

 

The Net Result of the company decreased by 34.03 % between 2011 and 2012. 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 11.54 % of the analyzed period, being 22.43 % in the year 2012. The company's financial structure has slowed down its financial profitability.

 

 

 

Analysis

 

 

BRANCH (SBI)

 

Waste collection, treatment and disposal activities; materials recovery (38)

 

REGION

 

Groot Rotterdam

In the Netherlands 1474 of the companies are registered with the SBI code 38

In the region Groot Rotterdam 114 of the companies are registered with the SBI code 38

In the Netherlands 29 of the bankrupcties are published within this sector

In the region Groot Rotterdam 1 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 Groot Rotterdam is normal

 

PUBLICATIONS

 

Filings

 

10-09-2014: De jaarrekening over 2013 is gepubliceerd.

15-04-2013: De jaarrekening over 2012 is gepubliceerd.

03-04-2012: De jaarrekening over 2011 is gepubliceerd.

20-04-2011: De jaarrekening over 2010 is gepubliceerd.

21-04-2010: De jaarrekening over 2009 is gepubliceerd.

 

Functions

 

04-07-2014: Per 18-06-2014 is gevolmachtigde Huibert van Mourik in functie getreden.

04-10-2011: Per 01-10-2011 is bestuurder 24184771 Jansen Recycling Groep B.V. in functie

getreden.

04-10-2011: Per 01-10-2011 is bestuurder Cornelis Peet uit functie getreden.

04-10-2011: Per 01-10-2011 is bestuurder Arie Cornelis Jansen uit functie getreden.

 

04-10-2011: Per 01-10-2011 is bestuurder Harmen Cornelis Jansen uit functie getreden.

04-10-2011: Per 01-10-2011 is bestuurder Klaas Jansen uit functie getreden.

 

Mergers

 

17-02-2014: Op 13-02-2014 fusieakte verleden. Verkrijgende rechtspersoon: Jansen

Recycling Group B.V., 24163546 Verdwijnende rechtspersonen: Zuid-Hollandse

Metaalmaatschappij "Zethameta" B.V., 24167860 Waterstad Recycling B.V., 24249276.

08-01-2014: Op 06-01-2014 fusievoorstel gedeponeerd. Verkrijgende rechtspersoon:

Metaalhandel A.C. Jansen B.V., 24163546 Verdwijnende rechtspersonen: Zuid-Hollandse

Metaalmaatschappij "Zethameta" B.V., 24167860 Waterstad Recycling B.V., 24249276.

 

Amendments

 

17-02-2014: Per 13-2-2014 statuten gewijzigd. Per 14-2-2014 naam gewijzigd in: Jansen

Recycling Group B.V..

 

 

Company structure

 

Relations

 

8

 

Stichting Administratiekantoor Jansen Recycling Groep

Nijmegenstraat 3-17

3087CD ROTTERDAM

Netherlands

Registration number: 411337560000

 

• Jansen Recycling Groep B.V.

Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Registration number: 241847710000

 

• Jansen Recycling Group B.V.

Nijmegenstraat 3-17

3087CD Rotterdam

Netherlands

Registration number: 241635460000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.57

UK Pound

1

Rs.100.42

Euro

1

Rs.78.45

 

 

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%)

 

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.