MIRA INFORM REPORT

 

 

Report No. :

315533

Report Date :

01.04.2015

 

IDENTIFICATION DETAILS

 

Name :

AMPHAR B.V.

 

 

Registered Office :

Emmaplein 5, 1075AW Amsterdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

07.08.1975

 

 

Com. Reg. No.:

33142837

 

 

Legal Form :

Private Company

 

 

Line of Business :

Import and export and international trade in chemicals and pharmaceutical   products

 

 

No. of Employees :

9 [2015]

 

 

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 :

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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                                    Amphar B.V.

Operative address                                Emmaplein 5

1075AW Amsterdam

Netherlands

Legal form                                           Private Company

Registration number                            KvK-nummer: 33142837

VAT-number                                         003377532

 

 

 

Year

 

2013

Mutation

2012

Mutation

2011

Fixed assets

15.145

6,71

14.193

-20,15

17.775

Total receivables

5.242.839

-16,50

6.278.738

-41,26

10.689.716

Total equity

2.096.052

-68,65

6.685.804

24,65

5.363.575

Short term liabilities

9.108.333

-1,20

9.219.314

-5,83

9.789.582

Net result

3.006.012

-17,60

3.648.170

27,44

2.862.762

Working capital

2.080.907

-68,81

6.671.611

24,80

5.345.800

Quick ratio

0,98

-31,94

1,44

28,57

1,12

 

 

 

 

Contact information

 

Company name                        Amphar B.V.

Trade names                            Amphar B.V.

Micafar

Operative address                    Emmaplein 5

1075AW Amsterdam

Netherlands

Correspondence address         Emmaplein 5

1075AW Amsterdam

Netherlands

Telephone number                   0205247440

Fax number                              0206261833

Email address                          amphar@amphar.com

Website                                    www.amphar.com

 

 

Registration

 

Registration number                KvK-nummer: 33142837

Branch number                        000016697804

VAT-number                             003377532

Status                                      Active

Memorandum                           1975-08-07

Establishment date                  1975-08-07

Legal form                               Besloten Vennootschap

Last proposed admendment     1993-06-17

Issued placed capital               EUR 45.378

Paid up share capital               EUR 45.378

 

 

Activities

 

SBI                                           Wholesale trade (no motor vehicles and motorcycles) (46)

Wholesale of pharmaceutical goods (46461)

Wholesale of basic and industrial chemicals (46751)

Exporter                                   Yes

Importer                                   Yes

Goal                     Import and export and international trade in chemicals and pharmaceutical   
                                              products

 

 

 

Relations

 

Shareholders                                        Amphar Holding B.V.

Emmaplein 5

1075AW AMSTERDAM

Netherlands

Registration number: 332495680000

Percentage: 100%

Companies on same address                Amount: 17

 

 

Management

 

A.I. Jessurun Cardozo (Abraham Isaäc)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 2014-01-01

Date of birth: 1946-06-27, Amsterdam, NL

Active management

M. Minco (Michael)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2014-01-01

Date of birth: 1960-10-28, Groningen, NL

 

 

Employees

 

Total according to the Chamber of Commerce      9

 

 

 

 

 

Key figures

 

 

 

 

 

Year

2013

2012

2011

2010

2009

Quick ratio

0,98

1,44

1,12

1,41

1,23

Current ratio

1,23

1,72

1,55

1,61

1,33

Working capital/ balance total

0,19

0,42

0,35

0,38

0,25

 

 

Year

 

2013

2012

2011

2010

2009

Equity / balance total

0,19

0,42

0,35

0,38

0,25

Equity / Fixed assets

138,40

471,06

301,75

230,30

154,23

Equity / liabilities

0,23

0,73

0,55

0,61

0,33

Balance total / liabilities

1,23

1,73

1,55

1,61

1,33

Working capital

2.080.907

6.671.611

5.345.800

7.640.366

5.876.708

Equity

2.096.052

6.685.804

5.363.575

7.673.686

5.915.059

Mutation equity

-68,65

24,65

-30,10

29,73

24,87

Mutation short term liabilities

-1,20

-5,83

-22,45

-28,89

-18,27

Return on total assets (ROA)

35,59

29,27

24,26

21,25

15,06

Return on equity (ROE)

190,23

69,64

68,54

56,21

60,25

Gross margin

5.168.495

5.785.753

4.964.311

5.412.923

4.863.389

Operating result

3.980.433

4.673.199

3.696.198

4.273.080

3.657.301

Net result after taxes

3.006.012

3.648.170

2.862.762

3.260.113

2.677.911

Cashflow

3.009.830

3.653.203

2.878.785

3.279.145

2.697.217

EBIT

3.980.433

4.673.199

3.696.198

4.273.080

3.657.301

EBITDA

3.984.251

4.678.232

3.712.221

4.292.112

3.676.607

 

Summary

 

The 2013 financial result structure is a postive working captial of 2.080.907 euro, which is in

agreement with 19 % of the total assets of the company.

The working capital has diminished with -68.81 % 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 1.23. 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 0.98. 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 6.671.611 euro, which is in

agreement with 42 % of the total assets of the company.

The working capital has increased with 24.8 % 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 1.72. 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 1.44. 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          Consolidated

Annual account                      Amphar B.V.

Emmaplein 5

1075AW Amsterdam

Netherlands

Registration number: 331428370000

 

Balance

 

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

11.467

10.515

14.097

29.642

34.673

Financial fixed assets

3.678

3.678

3.678

3.678

3.678

Fixed assets

15.145

14.193

17.775

33.320

38.351

Total stock

2.264.310

2.647.822

4.189.179

2.468.983

1.797.073

Accounts receivable

5.214.615

6.255.165

10.666.107

12.482.990

19.457.355

Other receivables

28.224

23.573

23.609

3.942

3.668

Total receivables

5.242.839

6.278.738

10.689.716

12.486.932

19.461.023

Liquid funds

3.682.091

6.964.365

256.487

5.307.937

2.370.625

Current assets

11.189.240

15.890.925

15.135.382

20.263.852

23.628.721

Total assets

11.204.385

15.905.118

15.153.157

20.297.172

23.667.072

Total equity

2.096.052

6.685.804

5.363.575

7.673.686

5.915.059

Short term liabilities

9.108.333

9.219.314

9.789.582

12.623.486

17.752.013

Total short and long term liabilities

9.108.333

9.219.314

9.789.582

12.623.486

17.752.013

Total liabilities

11.204.385

15.905.118

15.153.157

20.297.172

23.667.072

 

Summary

 

The total assets of the company decreased with -29.55 % between 2012 and 2013.

Despite the total assets decrease, non current assets grew with 6.71 %.

Assets reduction is explained by a Net Worth decrease of -68.65 %, and an indebtedness

reduction of -1.2 %.

In 2013 the assets of the company were 0.14 % composed of fixed assets and 99.86 % by current assets. The assets are being financed by an equity of 18.71 %, and total debt of

81.29 %.

The total assets of the company increased with 4.96 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -20.15 %.

The assets growth has been financed by a Net Worth increase of 24.65 %. The company's

net increase has also covered a reduction of -5.83 % of the company's indebtedness.

In 2012 the assets of the company were 0.09 % composed of fixed assets and 99.91 % by

current assets. The assets are being financed by an equity of 42.04 %, and total debt of

57.96 %.

 

 

 

 

 

Profit and loss

 

Year

 

2013

2012

2011

2010

2009

Gross margin

5.168.495

5.785.753

4.964.311

5.412.923

4.863.389

Wages and salaries

912.495

907.690

907.145

892.974

943.388

Amorization and depreciation

3.818

5.033

16.023

19.032

19.306

other operating costs

271.749

199.831

344.945

227.837

243.394

Operating expenses

1.188.062

1.112.554

1.268.113

1.139.843

1.206.088

Operating result

3.980.433

4.673.199

3.696.198

4.273.080

3.657.301

Financial income

32.180

6.322

24.703

142.826

19.350

Financial expenses

25.251

23.503

44.859

102.247

112.567

Financial result

6.929

-17.181

-20.156

40.579

-93.217

Result on ordinary operations before taxes

3.987.362

4.656.018

3.676.042

4.313.659

3.564.084

Taxation on the result of ordinary activities

989.008

1.203.752

940.479

1.100.453

901.276

 

Year

 

2013

2012

2011

2010

2009

Result of ordinary activities after taxes

2.998.354

3.452.266

2.735.563

3.213.206

2.662.808

Extraordinary income

7.658

195.904

127.199

46.907

15.103

Extraordinary result after taxation

7.658

195.904

127.199

46.907

15.103

Net result

3.006.012

3.648.170

2.862.762

3.260.113

2.677.911

 

Summary

 

The gross profit of the company decreased by -10.67 % between 2012 and 2013.

The operating result of the company declined with -14.82 % between 2012 and 2013. This

evolution implies an decrease of the company's economic profitability.

The result of these changes is an increase of the company's Economic Profitability of 21.59

% of the analysed period, being equal to 2012 % in the year 2013.

The Net Result of the company increased by -17.6 % between 2012 and 2013.

The company's Financial Profitability has been positively affected by the financial activities in

comparison to the EBITs behaviour. The result of these variations is a profitability increase of

173.16 % of the analysed period, being 190.23 % in the year 2013.

The company's financial structure has slowed down its financial profitability.

The gross profit of the company grew with 16.55 % between 2011 and 2012.

The operating result of the company grew with 26.43 % 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 20.65

% of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company decreased by 27.44 % 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 1.6 % of the analysed period, being 69.64 % in the year 2012.

The company's financial structure has slowed down its financial profitability.

 

 

 

Analysis

 

Branch (SBI)                                          Wholesale trade (no motor vehicles and motorcycles) (46)

Region                                   Groot Amsterdam

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Groot Amsterdam 10512 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 Groot Amsterdam 209 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 Amsterdam is normal

 

 

Publications

 

Filings                                                  24-07-2014: De jaarrekening over 2013 is gepubliceerd.

29-08-2013: De jaarrekening over 2012 is gepubliceerd.

06-07-2012: De jaarrekening over 2011 is gepubliceerd.

01-07-2011: De jaarrekening over 2010 is gepubliceerd.

17-06-2010: De jaarrekening over 2009 is gepubliceerd.

Functions                                              23-01-2014: Per 01-01-2014 is bestuurder Josef Herman uit functie getreden.

23-01-2014: Per 01-01-2014 is gevolmachtigde Michael Minco in functie getreden.

23-01-2014: Per 01-01-2014 is gevolmachtigde Abraham Isaäc Jessurun Cardozo uit functie

getreden.

23-01-2014: Per 01-01-2014 is bestuurder Abraham Isaäc Jessurun Cardozo in functie

getreden.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.59

UK Pound

1

Rs.92.45

Euro

1

Rs.67.51

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.