MIRA INFORM REPORT

 

 

Report No. :

315779

Report Date :

06.04.2015

 

IDENTIFICATION DETAILS

 

Name :

EUROBOLT B.V.

 

 

Registered Office :

De Immenhorst 12, 7041KE 's-Heerenberg, Netherlands

 

 

Country :

Netherlands

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

15.12.1978

 

 

Com. Reg. No.:

24135115

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of hardware (ironware and metal products)

 

 

No. of Employee :

33

 

 

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 :

Unknown

 

 

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

 

 

 

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

EUROBOLT B.V.

Operative address

De Immenhorst 12

 

7041KE 's-Heerenberg

 

Netherlands

 

 

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

1.007.180

-10,56

1.126.060

1,49

1.109.503

Total receivables

1.048.426

31,12

799.566

-53,44

1.717.447

Total equity

5.129.698

0,56

5.100.949

22,61

4.160.334

Short term liabilities

3.394.123

-37,03

5.390.301

211,09

1.732.741

Net result

28.749

-97,73

1.265.615

34,21

943.029

Working capital

5.530.975

-3,70

5.743.777

9,53

5.244.042

Quick ratio

0,33

65,00

0,20

-82,14

1,12

 

 

 

 

 

Contact information

 

Company name

EUROBOLT B.V.

Trade names

Eurobolt B.V.

 

 

Operative address

De Immenhorst 12

 

7041KE 's-Heerenberg

 

Netherlands

Correspondence address

De Immenhorst 12

 

7041KE 's-Heerenberg

 

Netherlands

Telephone number

0314675700

Fax number

0314664126

Email address

info@eurobolt.com

Website

www.eurobolt.com

 

 

Registration

 

 

Registration number

KvK-nummer: 24135115

Branch number

000020198485

VAT-number

004652447

Status

Active

First registration company register

1979-02-21

Memorandum

1978-12-15

Establishment date

1978-12-15

Legal form

Private Company

Last proposed admendment

2009-05-19

Issued placed capital

EUR 56.250

Paid up share capital

EUR 56.250

 

 

Activities

 

SBI

Wholesale of hardware (ironware and metal products) (46741)

Exporter

Yes

Importer

Yes

Goal

Bewerking van staal en ijzer, produktie, import, export van- en handel in halffabrikaten en

bevestigingsmaterialen, staal- en ijzerbewerkingen.

 

 

Relations

 

Liability statements

Klaassen Fasteners B.V.

 

Dokwerkerstraat 2 2984BJ Ridderkerk Netherlands

 

Registration number: 200542720000

 

Starting date: 1991-03-06 End date: 2009-12-31

 

 

Management

 

Active management

Beleggingsmaatschappij Tobur Rotterdam B.V.

 

Molenlaan 55

 

3055EG ROTTERDAM Netherlands

 

Registration number: 241666210000 Competence: Fully authorized Function: Manager

 

Starting date: 2005-01-10

 

H.J.M. Snijders (Hendrikus Johannes Margaretha)

 

Netherlands

 

Competence: Fully authorized Function: Manager

 

Starting date: 2002-04-01

 

Date of birth: 1968-10-20, Bergh, NL

 

 

Employees

 

Total according to the Chamber of Commerce

33

 

 

 

 

Year

2015

2012

2011

2010

2009

Total

33

33

34

29

30

 

 

 

 

 

 

Key figures

 

 

 

 

 

 

Year

2012

2011

2010

2009

2008

Quick ratio

0,33

0,20

1,12

0,27

0,19

Current ratio

2,63

2,07

4,03

1,78

1,33

Working capital/ balance total

0,56

0,47

0,65

0,39

0,23

 

 

Year

2012

2011

2010

2009

2008

Equity / balance total

0,52

0,42

0,51

0,31

0,20

Equity / Fixed assets

5,09

4,53

3,75

2,64

2,39

Equity / liabilities

1,07

0,71

1,06

0,44

0,25

Balance total / liabilities

2,07

1,71

2,06

1,44

1,25

Working capital

5.530.975

5.743.777

5.244.042

4.060.498

3.707.653

Equity

5.129.698

5.100.949

4.160.334

3.217.305

3.278.511

Mutation equity

0,56

22,61

29,31

-1,87

38,33

Mutation short term liabilities

-37,03

211,09

-66,63

-54,00

81,97

Return on total assets (ROA)

0,33

13,63

15,43

-9,51

7,22

Return on equity (ROE)

0,65

32,76

29,99

-30,95

36,05

Gross margin

3.039.763

5.201.213

5.077.446

2.325.620

5.847.340

Operating result

316.142

1.915.235

1.656.948

-422.862

1.855.181

Net result after taxes

28.749

1.265.615

943.029

-730.603

908.625

Cashflow

229.918

1.459.073

1.142.434

-543.605

1.089.797

EBIT

316.142

1.915.235

1.656.948

-422.862

1.855.181

EBITDA

517.311

2.108.693

1.856.353

-235.864

2.036.353

 

 

Summary

 

The 2012 financial result structure is a postive working captial of 5.530.975 euro, which is in agreement with 56 % of the total assets of the company.

 

The working capital has diminished with -3.7 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

 

The deterioration between 2011 and 2012 has mainly been caused by a reduction of the current assets.

 

The current ratio of the company in 2012 was 2.63. 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 0.33. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

The 2011 financial result structure is a postive working captial of 5.743.777 euro, which is in agreement with 47 % of the total assets of the company.

 

The working capital has increase with 9.53 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.

 

The improvement between 2010 and 2011 has mainly been caused by a current liabilities reduction.

 

The current ratio of the company in 2011 was 2.07. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

 

The quick ratio in 2011 of the company was 0.2. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

 

 

 

 

 

 

 

Text Box:
Financial statement

 

Last annual account

2012

Remark annual account

Although the statutory period has expired, the company's annual reports are not yet

 

published.

 

 

Type of annual account

Corporate

Annual account

Eurobolt B.V.

 

 

De Immenhorst 12 7041KE 's-Heerenberg Netherlands

 

Registration number: 241351150000

 

 

Balance

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Tangible fixed assets

1.007.180

1.126.060

1.109.503

1.216.979

1.371.966

Fixed assets

1.007.180

1.126.060

1.109.503

1.216.979

1.371.966

Total stock

7.815.495

10.077.697

5.032.995

7.838.388

12.803.951

Total receivables

1.048.426

799.566

1.717.447

1.328.636

2.104.697

Liquid funds

61.177

256.815

226.341

85.960

86.435

Current assets

8.925.098

11.134.078

6.976.783

9.252.984

14.995.083

Total assets

9.932.278

12.260.138

8.086.286

10.469.963

16.367.049

Issued capital

56.722

56.722

56.722

56.722

45.378

Share premium reserve

658.053

658.053

658.053

658.053

 

Revaluation reserve

86.274

91.874

97.474

103.074

103.683

Other reserves

4.328.649

4.294.300

3.348.085

2.399.456

3.129.450

Total reserves

5.072.976

5.044.227

4.103.612

3.160.583

3.233.133

Total equity

5.129.698

5.100.949

4.160.334

3.217.305

3.278.511

Provisions

21.568

22.968

24.368

25.768

26.337

Long term interest yielding debt

1.386.889

1.745.920

2.168.843

2.034.404

1.774.771

Long term liabilities

1.386.889

1.745.920

2.168.843

2.034.404

1.774.771

Short term liabilities

3.394.123

5.390.301

1.732.741

5.192.486

11.287.430

Total short and long term liabilities

4.802.580

7.159.189

3.925.952

7.252.658

13.088.538

 

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Total liabilities

9.932.278

12.260.138

8.086.286

10.469.963

16.367.049

 

 

Summary

 

The total assets of the company decreased with -18.99 % between 2011 and 2012.

 

This total assets decrease has been reflected in a reduction of non current assets of -10.56 %.

 

Assets reduction is being explained by an indebtedness decrease -32.92 % while the Net Worth remains unchanged.

 

In 2012 the assets of the company were 10.14 % composed of fixed assets and 89.86 % by current assets. The assets are being financed by an equity of 51.65 %, and total debt of 48.35 %.

 

The total assets of the company increased with 51.62 % between 2010 and 2011. The fixed asset growth of 1.49 % is lower than the total asset growth. The asset growth has mainly been financed by a debt increase of 82.36 %. The Net Worth, however, grew with 22.61 %.

 

In 2011 the assets of the company were 9.18 % composed of fixed assets and 90.82 % by current assets. The assets are being financed by an equity of 41.61 %, and total debt of 58.39 %.

 

Text Box:
Profit and loss

 

Year

2012

2011

2010

2009

2008

Gross margin

3.039.763

5.201.213

5.077.446

2.325.620

5.847.340

Wages and salaries

1.550.054

1.765.204

1.638.248

1.335.350

1.836.805

Amorization and depreciation

201.169

193.458

199.405

186.998

181.172

 

 

 

Year

2012

2011

2010

2009

2008

other operating costs

972.398

1.327.316

1.582.845

1.226.134

1.974.182

Operating expenses

2.723.621

3.285.978

3.420.498

2.748.482

3.992.159

Operating result

316.142

1.915.235

1.656.948

-422.862

1.855.181

Financial expenses

282.974

243.914

409.066

573.038

673.120

Financial result

-282.974

-243.914

-409.066

-573.038

-673.120

Result on ordinary operations before taxes

33.168

1.671.321

1.247.882

-995.900

1.182.061

Taxation on the result of ordinary activities

4.419

405.706

304.853

-265.297

293.436

Result of ordinary activities after taxes

28.749

1.265.615

943.029

-730.603

888.625

Extraordinary income

 

 

 

 

20.000

Extraordinary result after taxation

 

 

 

 

20.000

Net result

28.749

1.265.615

943.029

-730.603

908.625

 

 

Summary

 

The gross profit of the company decreased by -41.56 % between 2011 and 2012.

 

The operating result of the company declined with -83.49 % between 2011 and 2012. 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 -97.58 % of the analysed period, being equal to 2011 % in the year 2012.

 

The Net Result of the company increased by -97.73 % between 2011 and 2012. 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 -98.02 % of the analysed period, being 0.65 % in the year 2012.

 

The company's financial profitability has been positively affected by its financial structure.

 

The gross profit of the company grew with 2.44 % between 2010 and 2011. The operating result of the company grew with 15.59 % between 2010 and 2011. 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 -11.67 % of the analysed period, being equal to 2010 % in the year 2011.

 

The Net Result of the company decreased by 34.21 % between 2010 and 2011. 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 9.24 % of the analysed period, being 32.76 % in the year 2011.

 

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

 

 

Analysis

 

Branch (SBI)

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

 

Region

Achterhoek

 

 

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

 

 

In the region Achterhoek 2361 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 Achterhoek 56 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 Achterhoek is normal

 

 

 

 

 

Publications

 

Filings

 

20-06-2013: De jaarrekening over 2012 is gepubliceerd.

19-06-2012: De jaarrekening over 2011 is gepubliceerd.

02-05-2011: De jaarrekening over 2010 is gepubliceerd.

17-01-2011: De jaarrekening over 2009 is gepubliceerd.

 

 

Company structure

 

Relations

3

 

Beleggingsmaatschappij Tobur Rotterdam B.V.

 

Molenlaan 55

 

3055EG ROTTERDAM Netherlands

 

Registration number: 241666210000

 

•   Eurobolt B.V.

 

De Immenhorst 12 7041KE 's-Heerenberg Netherlands

 

Registration number: 241351150000

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.