MIRA INFORM REPORT

 

 

Report Date :

30.09.2014

 

IDENTIFICATION DETAILS

 

Name :

DJM FOODPROCESSING B.V.

 

 

Registered Office :

Besloten Vennootschap, De Rietkraag 7 8082AA Elburg

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

09.06.2010

 

 

Com. Reg. No.:

KvK-nummer: 50159321

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Manufacture of machinery for food, beverage and tobacco processing

 

 

No. of Employees :

5

 

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

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           DJM Foodprocessing B.V.

Operative address       De Rietkraag 7

8082AA Elburg

Netherlands

Legal form                   Besloten Vennootschap

Registration number    KvK-nummer: 50159321

VAT-number                822579133

 

Year

2013

 

Mutation

2012

 

Mutation

2011

Fixed assets

44.569

 

-29,87

63.548

 

-13,57

73.527

Total receivables

739.638

 

-16,21

882.707

t

132,11

380.295

 

Total equity

669.690

 

17,12

571.818

t

58,90

359.851

Short term liabilities

500.678

4

-44,81

907.172

 

-2,91

934.345

 

Working capital

876.671

*

32,87

659.820

 

57,54

418.824

Quick ratio

1,58

 

21,54

1,30

 

25,00

1,04

 

 

Contact information

 

Company name                       DJM Foodprocessing B.V.

Trade names                           DJM Foodprocessing B.V.

Operative address                   De Rietkraag 7

8082AA Elburg

Netherlands

Correspondence address         De Rietkraag 7

8082AA Elburg

Netherlands

Telephone number                  0525652088

Fax number                             0525653303

Email address                          info@djmfoodprocessing.nl

Website                                   www.djmfoodprocessing.nl

 

 

Registration

 

Registration number                            KvK-nummer: 50159321

Branch number                                    000000074225

VAT-number                                        822579133

Status                                                  Active

First registration company register      2010-06-11

Memorandum                                      2010-06-11

Establishment date                              2010-06-09

Legal form                                           Besloten Vennootschap

 

 

Activities

 

SBI                   Manufacture of machinery for food, beverage and tobacco processing (2893)

Exporter           Yes

Importer           Yes

Goal                 Het ontwikkelen en produceren van, de handel in, de im- en export van en de financiering

van machines

 

 

Relations

 

Branches                     DJM Foodprocessing B.V.

De Rietkraag 7

8082AA ELBURG

Netherlands

Registration number:   501593210001

Companies on same    address DJM Foodprocessing B.V.

Registration number:   501593210001

 

 

Management

 

Active management                Mofood B.V.

Wolbert 1

7627SE BORNERBROEK

Netherlands

Registration number: 505405800000

Competence: Jointly authorized

Function: Manager

Starting date: 2010-08-19

R. de Lange (Robbert)

Netherlands

Competence: Jointly authorized

Function: Manager

Starting date: 2014-05-01

Date of birth: 1963-04-18, 's-Gravenhage, NL

R.J.B. Morshuis (Roy Johannes Bernardus)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2010-08-19

Date of birth: 1975-07-09, Borne, NL

Active management

L.S. Wolpert (Luc-Jan Sebastian)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-03-14

Date of birth: 1967-10-24, Morsbach, DE

 

 

Employees

 

Year                 2014                 2013                 2012                 2011                 2010

Total                5                      10                     5                      5                      5

 

 

 

Payments

 

Description Payments are made regularly no complaints are known

 

 

Key figures 1

 

Year

2013

2012

2011

2010

Quick ratio

1,58

1,30

1,04

1,07

Current ratio

2,75

1,73

1,45

1,28

 

Working capital/ balance total

0,62

0,40

0,29

0,21

Equity / balance total

0,47

0,35

0,25

0,10

Equity / Fixed assets

15,03

9,00

4,89

3,01

Equity / liabilities

0,89

0,54

0,34

0,11

 

Equity

669.690

571.818

359.851

148.277

Mutation equity

17,12

58,90

142,69

 

Mutation short term liabilities

-44,81

-2,91

-16,01

 

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 876.671 euro, which is in

agreement with 62 % of the total assets of the company.

The working capital has increased with 32.87 % 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 2.75. 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 1.58. 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 659.820 euro, which is in

agreement with 40 % of the total assets of the company.

The working capital has increased with 57.54 % 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 1.73. 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 1.3. 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                       DJM Foodprocessing B.V.

De Rietkraag 7

8082AA Elburg

Netherlands

Registration number: 501593210000

 

Balance

 

Year

2013

2012

2011

2010

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

Intangible fixed assets

7.100

10.700

14.300

17.900

 

Tangible fixed assets

37.469

52.848

59.227

31.325

 

Fixed assets

44.569

63.548

73.527

49.225

 

 

Total stock

588.628

388.403

385.965

232.973

 

Total receivables

739.638

882.707

380.295

631.161

 

Liquid funds

49.083

295.882

586.909

558.878

Current assets

1.377.349

1.566.992

1.353.169

1.423.012

 

Total assets

1.421.918

1.630.540

1.426.696

1.472.237

 

 

Issued capital

18.000

18.000

18.000

18.000

Other reserves

651.690

553.818

341.851

130.277

Total reserves

651.690

553.818

341.851

130.277

Total equity

669.690

571.818

359.851

148.277

 

Provisions

166.550

66.550

47.500

 

 

Long term interest yielding debt

85.000

85.000

85.000

211.473

 

Long term liabilities

85.000

85.000

85.000

211.473

 

Short term liabilities

500.678

907.172

934.345

1.112.487

 

Total short and long term liabilities

752.228

1.058.722

1.066.845

1.323.960

 

Total liabilities

1.421.918

1.630.540

1.426.696

1.472.237

 

 

 

Summary

 

The total assets of the company decreased with -12.79 % between 2012 and 2013.

This downturn is mainly retrievable in the fixed asset decrease of -29.87 %.

The asset reduction is in contrast with the equity growth of 17.12 %. Due to this the total debt

decreased with -28.95 %.

In 2013 the assets of the company were 3.13 % composed of fixed assets and 96.87 % by

current assets. The assets are being financed by an equity of 47.1 %, and total debt of 52.9

%.

The total assets of the company increased with 14.29 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -13.57 %.

In 2012 the assets of the company were 3.9 % composed of fixed assets and 96.1 % by

current assets. The assets are being financed by an equity of 35.07 %, and total debt of

64.93 %.

 

 

 

 

 

Analysis

 

Branch (SBI)                Manufacture of machinery and equipment n.e.c. (28)

Region                         Veluwe

In the Netherlands 4630 of the companies are registered with the SBI code 28

In the region Veluwe 238 of the companies are registered with the SBI code 28

In the Netherlands 136 of the bankrupcties are published within this sector

In the region Veluwe 8 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 Veluwe is normal

 

 

Publications

 

Filings              27-06-2014: De jaarrekening over 2013 is gepubliceerd.

16-01-2014: De jaarrekening over 2012 is gepubliceerd.

03-01-2013: De jaarrekening over 2011 is gepubliceerd.

31-01-2012: De jaarrekening over 2010 is gepubliceerd.

Functions 12-06-2014: Per 01-05-2014 is bestuurder Robbert de Lange in functie getreden.

12-06-2014: Per 01-05-2014 is bestuurder 52215849 Festos Participaties I B.V. uit functie

getreden.

21-03-2011: Per 14-03-2011 is bestuurder 04049981 Noblestone B.V. uit functie getreden.

21-03-2011: Per 14-03-2011 is bestuurder 52215849 Festos Participaties I B.V. in functie

getreden.

21-03-2011: Per 14-03-2011 is gevolmachtigde Luc-Jan Sebastian Wolpert in functie

getreden.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.42

UK Pound

1

Rs.99.72

Euro

1

Rs.77.93

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.