MIRA INFORM REPORT
|
Report No. : |
315719 |
|
Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
PEPE JEANS EUROPE B.V. |
|
|
|
|
Registered Office : |
Keizersgracht 321 1016EE Amsterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
Private Company |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 33272219 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
6 (2015) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 PEPE JEANS EUROPE B.V.
Operative address Keizersgracht 321
1016EE Amsterdam
Netherlands
Legal form Private Company
Registration number KvK-nummer: 33272219
VAT-number 804112393
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
209.708.000 |
0,86 |
207.929.000 |
10,75 |
187.749.000 |
|
Total receivables |
20.711.000 |
-32,61 |
30.732.000 |
1,55 |
30.264.000 |
|
Total equity |
195.973.000 |
-6,56 |
209.728.000 |
7,94 |
194.299.000 |
|
Short term liabilities |
37.554.000 |
26,86 |
29.603.000 |
8,45 |
27.296.000 |
|
Net result |
36.465.000 |
39,36 |
26.166.000 |
10,31 |
23.720.000 |
|
Working capital |
-13.735.000 |
-765,46 |
2.064.000 |
-68,49 |
6.550.000 |
|
Quick ratio |
0,58 |
-44,76 |
1,05 |
-6,25 |
1,12 |
Contact
information
Company name Pepe Jeans Europe B.V.
Trade names Pepe Jeans Europe B.V.
Pepe Jeans Shop Rotterdam
Pepe Jeans Shop Amsterdam
Pepe Jeans Outlet Lelystad
Operative address Keizersgracht 321
1016EE Amsterdam
Netherlands
Correspondence address Postbus 17398
1001JJ Amsterdam
Netherlands
Telephone number 0205893888
Fax number 0205893880
Email address info@pepejeans.com
Website www.pepejeans.com
Registration
Registration number KvK-nummer:
33272219
Branch number 000018246842
VAT-number 804112393
Status Active
First registration company
register 1995-09-27
Memorandum 1995-09-27
Establishment date 1995-08-21
Legal form Private
Company
Last proposed admendment 1995-12-05
Issued placed capital EUR 471.931
Paid up share capital EUR 471.931
Activities
SBI Wholesale
trade (no motor vehicles and motorcycles) (46)
Wholesale of
outerwear (46421)
Exporter Yes
Importer Yes
Goal De nationale
en internationale (groot) handel in kleding
Relations
Shareholders Naam:
Pepe Jeans SL
Bezoekadres: Carretera Laurea Miro 403 - 405,
Barcelona, Spanje
Ingeschreven in: Registro Mercantil Madrid, Spanje onder nummer B 178404
Enig aandeelhouder sedert: 20-12-2002
Branches
Pepe
Jeans Europe B.V.
Korte Lijnbaan 21
3012EC ROTTERDAM
Netherlands
Registration number: 332722190000
Pepe Jeans Europe B.V.
Kalverstraat 88
1012PH AMSTERDAM
Netherlands
Registration number: 332722190000
Pepe Jeans Europe B.V.
Bataviaplein 283
8242PV LELYSTAD
Netherlands
Registration number: 332722190000
Pepe Jeans Europe B.V.
Trappistenweg 8
5932NB TEGELEN
Netherlands
Registration number: 332722190003
Companies
on same address Pepe International B.V.
Registration number:
333042210000
Pepe Jeans Nederland B.V.
Registration number: 341318680000
Stichting
Architektenonderzoek Wonen en Woonomgeving (Stawon)
Registration number:
411992210000
Stichting Jonge Architecten
Prijs
Registration number:
412139170000
Stichting Integraal
Werkende Architecten
Registration number:
342643690000
Companies on same address
Hackett Netherlands B.V.
Registration number: 579546230000
Liability
statements Foreign entity
Starting date: 1995-10-09
End date: 2009-12-31
Management
Active management N.S. Soneji (Nishith Shashikant)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2001-06-28
Date of birth: 1963-08-01, Kampala, UG
Involved with the following companies
• Pepe Jeans Nederland B.V.
Keizersgracht 321
1016EE Amsterdam
Netherlands
Registration number: 341318680000
Function: Manager
N.P.
Midgley (Nigel Peter)
Netherlands
Competence:
Fully authorized
Function:
Manager
Starting
date: 2004-03-10
Date
of birth: 1965-09-23, Birmingham, GB
Involved
with the following companies
•
Pepe Jeans Nederland B.V.
Keizersgracht
321
1016EE
Amsterdam
Netherlands
Registration
number: 341318680000
Function:
Manager
A.
Lopez Lomena (Andres)
Netherlands
Competence:
Jointly authorized
Function:
Manager
Starting
date: 2013-01-01
Date
of birth: 1968-02-28, Barcelona, ES
F.A.
Thomas (Fitzroy Alexander)
Netherlands
Competence:
Limited authorization
Function:
Proxy
Starting
date: 1999-06-11
Date
of birth: 1956-01-09, Georgetown, NL
A.
van Wouwe (Anouk)
Netherlands
Competence:
Limited authorization
Function:
Proxy
Starting
date: 2001-08-01
Date
of birth: 1972-01-07, Asten, NL
Employees
|
Total according to the Chamber of Commerce |
6 |
|
|
|
|
|
Year |
2015 |
2014 |
2013 |
2012 |
2010 |
|
Total |
6 |
74 |
71 |
72 |
66 |
Key
figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
0,58 |
1,05 |
1,12 |
1,89 |
1,89 |
|
Current ratio |
0,63 |
1,07 |
1,24 |
2,05 |
2,27 |
|
Working capital/ balance total |
-0,06 |
0,01 |
0,03 |
0,09 |
0,09 |
|
Equity / balance total |
0,84 |
0,88 |
0,88 |
0,91 |
0,93 |
|
Equity / Fixed assets |
0,93 |
1,01 |
1,03 |
1,11 |
1,11 |
|
Equity / liabilities |
5,22 |
7,02 |
7,12 |
10,57 |
13,12 |
|
Balance total / liabilities |
6,22 |
8,02 |
8,12 |
11,57 |
14,12 |
|
Working capital |
-13.735.000 |
2.064.000 |
6.550.000 |
18.277.000 |
17.117.000 |
|
Equity |
195.973.000 |
209.728.000 |
194.299.000 |
184.151.000 |
176.552.000 |
|
Mutation equity |
-6,56 |
7,94 |
5,51 |
4,30 |
16,28 |
|
Mutation short term liabilities |
26,86 |
8,45 |
57,19 |
29,06 |
-18,48 |
|
Return on total assets (ROA) |
16,67 |
11,91 |
12,05 |
12,52 |
12,47 |
|
Return on equity (ROE) |
19,86 |
13,61 |
13,74 |
13,71 |
13,42 |
|
Gross profit margin |
16,79 |
13,21 |
14,78 |
15,79 |
17,35 |
|
Net profit margin |
33,95 |
27,33 |
25,63 |
27,27 |
25,31 |
|
Average collection ratio |
2,86 |
3,23 |
3,39 |
4,89 |
6,40 |
|
Average payment ratio |
5,19 |
3,11 |
3,06 |
2,59 |
3,40 |
|
Equity turnover ratio |
0,55 |
0,46 |
0,48 |
0,46 |
0,49 |
|
Total assets turnover ratio |
0,46 |
0,40 |
0,42 |
0,42 |
0,45 |
|
Fixed assets turnover ratio |
0,51 |
0,46 |
0,49 |
0,51 |
0,54 |
|
Inventory conversion ratio |
52,57 |
203,24 |
28,02 |
29,91 |
16,60 |
|
Turnover |
107.396.000 |
95.724.000 |
92.534.000 |
84.928.000 |
86.096.000 |
|
Gross margin |
48.813.000 |
38.082.000 |
35.791.000 |
33.150.000 |
33.463.000 |
|
Operating result |
18.029.000 |
12.648.000 |
13.672.000 |
13.408.000 |
14.939.000 |
|
Net result after taxes |
36.465.000 |
26.166.000 |
23.720.000 |
23.156.000 |
21.788.000 |
|
Cashflow |
39.614.000 |
29.075.000 |
24.199.000 |
23.402.000 |
22.009.000 |
|
EBIT |
18.029.000 |
12.648.000 |
13.672.000 |
13.408.000 |
14.939.000 |
|
EBITDA |
21.178.000 |
15.557.000 |
14.151.000 |
13.654.000 |
15.160.000 |
Summary The 2014
financial result structure is a negative working captial of -13.735.000 euro,
which is
in agreement with -6 % of the total assets of the
company.
The working capital has diminished with -765.46 %
compared to previous year. The ratio,
with respect to the total assets of the company has
however, declined.
The deterioration between 2013 and 2014 has mainly
been caused by an increase of the
current liabilities.
The current ratio of the company in 2014 was 0.63.
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 0.58. A
company with a Quick Ratio of less than
1 cannot currently pay back its current
liabilities.
The 2013 financial result structure is a postive
working captial of 2.064.000 euro, which is in
agreement with 1 % of the total assets of the
company.
The working capital has diminished with -68.49 % 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 1.07.
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 1.05. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.
Financial
statement
Last
annual account 2014
Remark
annual account The company is obliged to file
its financial statements.
Type
of annual account Corporate
Annual
account Pepe Jeans
Europe B.V.
Keizersgracht 321
1016EE Amsterdam
Netherlands
Registration number: 332722190000
Balance
sheet
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Intangible fixed assets |
9.689.000 |
10.904.000 |
1.117.000 |
748.000 |
|
|
Tangible fixed assets |
1.407.000 |
617.000 |
727.000 |
535.000 |
684.000 |
|
Financial fixed assets |
198.612.000 |
196.408.000 |
185.905.000 |
164.653.000 |
158.751.000 |
|
Fixed assets |
209.708.000 |
207.929.000 |
187.749.000 |
165.936.000 |
159.435.000 |
|
Total stock |
2.043.000 |
471.000 |
3.303.000 |
2.839.000 |
5.188.000 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Accounts receivable |
15.794.000 |
23.757.000 |
22.810.000 |
25.296.000 |
18.036.000 |
|
Other receivables |
4.917.000 |
6.975.000 |
7.454.000 |
7.480.000 |
7.298.000 |
|
Total receivables |
20.711.000 |
30.732.000 |
30.264.000 |
32.776.000 |
25.334.000 |
|
Liquid funds |
1.065.000 |
464.000 |
279.000 |
27.000 |
50.000 |
|
Current assets |
23.819.000 |
31.667.000 |
33.846.000 |
35.642.000 |
30.572.000 |
|
Total assets |
233.527.000 |
239.596.000 |
221.595.000 |
201.578.000 |
190.007.000 |
|
Issued capital |
472.000 |
472.000 |
472.000 |
472.000 |
472.000 |
|
Share premium reserve |
65.021.000 |
105.021.000 |
105.009.000 |
105.009.000 |
105.009.000 |
|
Other reserves |
94.015.000 |
78.069.000 |
65.098.000 |
55.514.000 |
49.283.000 |
|
Non-distributable profit |
36.465.000 |
26.166.000 |
23.720.000 |
23.156.000 |
21.788.000 |
|
Total reserves |
195.501.000 |
209.256.000 |
193.827.000 |
183.679.000 |
176.080.000 |
|
Total equity |
195.973.000 |
209.728.000 |
194.299.000 |
184.151.000 |
176.552.000 |
|
Provisions |
|
265.000 |
|
62.000 |
|
|
Accounts payable |
4.150.000 |
3.612.000 |
1.325.000 |
4.159.000 |
3.611.000 |
|
Other short term liabilities |
33.404.000 |
25.991.000 |
25.971.000 |
13.206.000 |
9.844.000 |
|
Short term liabilities |
37.554.000 |
29.603.000 |
27.296.000 |
17.365.000 |
13.455.000 |
|
Total short and long term liabilities |
37.554.000 |
29.868.000 |
27.296.000 |
17.427.000 |
13.455.000 |
|
Total liabilities |
233.527.000 |
239.596.000 |
221.595.000 |
201.578.000 |
190.007.000 |
Summary
The total assets of the company decreased
with -2.53 % between 2013 and 2014.
The total assets are entirely composed of
current assets.
The asset reduction results in an equity
decrease of -6.56 %. Despite the decrease, the
indebtness increased with 25.73 %.
In 2014 the assets of the company were 89.8 %
composed of fixed assets and 10.2 % by
current assets. The assets are being financed
by an equity of 83.92 %, and total debt of
16.08 %.
The total assets of the company increased
with 8.12 % between 2012 and 2013.
The total asset increase is retrievable in
the fixed asset growth of 10.75 %.
The asset growth has mainly been financed by
a debt increase of 9.42 %. The Net Worth,
however, grew with 7.94 %.
In 2013 the assets of the company were 86.78
% composed of fixed assets and 13.22 % by
current assets. The assets are being financed
by an equity of 87.53 %, and total debt of
12.47 %.
Profit
and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Revenues |
107.396.000 |
95.724.000 |
92.534.000 |
84.928.000 |
86.096.000 |
|
Net turnover |
107.396.000 |
95.724.000 |
92.534.000 |
84.928.000 |
86.096.000 |
|
Gross margin |
48.813.000 |
38.082.000 |
35.791.000 |
33.150.000 |
33.463.000 |
|
Wages and salaries |
1.322.000 |
3.767.000 |
4.480.000 |
4.678.000 |
3.678.000 |
|
Amorization and depreciation |
3.149.000 |
2.909.000 |
479.000 |
246.000 |
221.000 |
|
Sales |
58.583.000 |
57.642.000 |
56.743.000 |
51.778.000 |
52.633.000 |
|
other operating costs |
26.313.000 |
18.758.000 |
17.160.000 |
14.818.000 |
14.625.000 |
|
Operating expenses |
89.367.000 |
83.076.000 |
78.862.000 |
71.520.000 |
71.157.000 |
|
Result in subsidiaries |
20.851.000 |
14.215.000 |
10.714.000 |
11.593.000 |
7.282.000 |
|
Operating result |
18.029.000 |
12.648.000 |
13.672.000 |
13.408.000 |
14.939.000 |
|
Financial income |
1.564.000 |
1.962.000 |
2.477.000 |
974.000 |
1.558.000 |
|
Financial expenses |
1.526.000 |
291.000 |
162.000 |
730.000 |
84.000 |
|
Financial result |
38.000 |
1.671.000 |
2.315.000 |
244.000 |
1.474.000 |
|
Result on ordinary operations before taxes |
38.918.000 |
28.534.000 |
26.701.000 |
25.245.000 |
23.695.000 |
|
Taxation on the result of ordinary activities |
2.453.000 |
2.368.000 |
2.348.000 |
2.089.000 |
1.907.000 |
|
Result of ordinary activities after taxes |
36.465.000 |
26.166.000 |
24.353.000 |
23.156.000 |
21.788.000 |
|
Extraordinary expense |
|
|
633.000 |
|
|
|
Extraordinary result after taxation |
|
|
-633.000 |
|
|
|
Net result |
36.465.000 |
26.166.000 |
23.720.000 |
23.156.000 |
21.788.000 |
Summary
The turnover of the company grew with 12.19 %
between 2013 and 2014.
The gross profit of the company grew with
28.18 % between 2013 and 2014.
The operating result of the company grew with
42.54 % between 2013 and 2014. 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 39.97
% of the analysed period, being equal to 2013
% in the year 2014.
This growth has contributed to the increase
in assets turnover, increasing by 15 % reaching
0.46.
The Net Result of the company decreased by
39.36 % between 2013 and 2014.
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
45.92 % of the analysed period, being 19.86 %
in the year 2014.
The company's financial structure has slowed down its financial
profitability.
The turnover of the company grew with 3.45 %
between 2012 and 2013.
The gross profit of the company grew with 6.4
% between 2012 and 2013.
The operating result of the company declined
with -7.49 % 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 -1.16 %
of the analysed period, being equal to 2012 %
in the year 2013.
This fall has contributed to a asset turnover
decrease, whose index evolved from -4.76 to a
level of 0.4.
The Net Result of the company decreased by
10.31 % 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 0 % of the analysed period, being 13.61 %
in the year 2013.
The company's financial profitability has not
been affected by its financial structure.
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
26-11-2014: De jaarrekening
over 2014 (gebroken boekjaar) is gepubliceerd.
24-10-2013: De jaarrekening
over 2013 (gebroken boekjaar) is gepubliceerd.
23-11-2012: De jaarrekening over 2012
(gebroken boekjaar) is gepubliceerd.
27-10-2011: De jaarrekening
over 2011 (gebroken boekjaar) is gepubliceerd.
08-02-2011: De jaarrekening
over 2010 (gebroken boekjaar) is gepubliceerd.
Functions
20-03-2014: Per 01-01-2013
is bestuurder Andres Lopez Lomena in functie getreden.
Company
structure
Relations 4
Pepe
Jeans SL
Spain
•
Pepe Jeans Europe B.V.
Keizersgracht
321
1016EE
Amsterdam
Netherlands
Registration
number: 332722190000
•
Pepe International B.V.
Keizersgracht
321
1016EE
AMSTERDAM
Netherlands
Registration
number: 333042210000
•
Pepe Jeans Nederland B.V.
Keizersgracht
321
1016EE
Amsterdam
Netherlands
Registration
number: 341318680000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.