MIRA INFORM REPORT
|
Report No. : |
316742 |
|
Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
STICHTING INTERNATIONAL DISPENSARY ASSOCIATION |
|
|
|
|
Registered Office : |
Slochterweg 35, 1027AA Amsterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
21.11.1982 |
|
|
|
|
Com. Reg. No.: |
33170905 |
|
|
|
|
Legal Form : |
Stichting |
|
|
|
|
Line of Business : |
Subject is engaged in Wholesale of
pharmaceutical goods |
|
|
|
|
No. of Employee : |
114 |
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 – 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, the sixth-largest economy in the euro-zone, is noted for its important role as a European transportation hub, sizable trade surplus, stable industrial relations, and moderate unemployment and inflation. Industry focuses on 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 food-processing and export. 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 injected billions of dollars of capital into financial institutions to stem the deterioration. To address the economic downturn, the government also sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. 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 to reduce the budget deficit, and, in 2013, the government brought the budget deficit below the euro-zone limit of 3% of GDP. Though the Dutch economy remains fragile, a gradual improvement in GDP growth in 2014 helped reduce the deficit further through an increase in government tax revenues. Private consumption remains subdued because of high unemployment, low wage growth, and still-high levels of debt, which together with tax increases, have made households reluctant to spend. Private investment and export growth are susceptible to slower activity in the Netherlands’ European trading partners and geopolitical tensions that constrain international trade.
|
Source
: CIA |
Summary
|
|
|
Company name |
STICHTING
INTERNATIONAL DISPENSARY ASSOCIATION |
|
Operative address |
Slochterweg 35 |
|
|
1027AA Amsterdam |
|
|
Netherlands |
|
|
|
|
Legal form |
Stichting |
|
Registration number |
KvK-nummer: 33170905 |
|
VAT-number |
002956184 |
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
2.047.000 |
-14,42 |
2.392.000 |
5,61 |
2.265.000 |
|
Total receivables |
17.909.000 |
-11,77 |
20.298.000 |
-24,04 |
26.721.000 |
|
Total equity |
30.799.000 |
12,78 |
27.308.000 |
8,43 |
25.184.000 |
|
Short term liabilities |
283.789.000 |
103,93 |
139.159.000 |
87,02 |
74.408.000 |
|
Net result |
3.491.000 |
64,36 |
2.124.000 |
2.135,79 |
95.000 |
|
Working capital |
28.848.000 |
12,83 |
25.568.000 |
11,17 |
23.000.000 |
|
Quick ratio |
1,03 |
|
1,03 |
-1,90 |
1,05 |
Contact
information
|
Company name |
STICHTING INTERNATIONAL DISPENSARY ASSOCIATION |
|
Trade names |
IDA
HIV/AIDS Group Stichting International Dispensary Association IDA Foundation |
|
Operative address |
Slochterweg 35 |
|
|
1027AA Amsterdam |
|
|
Netherlands |
|
Correspondence address |
Postbus 37098 |
|
|
1030AB Amsterdam |
|
|
Netherlands |
|
Telephone number |
0204033051 |
|
Fax number |
0204031854 |
|
Email address |
info@idafoundation.org |
|
Website |
www.idafoundation.org |
Registration
|
|
|
Registration number |
KvK-nummer: 33170905 |
|
Branch number |
000010277897 |
|
VAT-number |
002956184 |
|
Status |
Active |
|
Memorandum |
1972-11-21 |
|
Establishment date |
1982-11-21 |
|
Legal form |
Stichting |
|
Last proposed admendment |
2011-07-11 |
Activities
|
|
|
SBI |
Wholesale of pharmaceutical goods (46461) |
|
Exporter |
No |
|
Importer |
No |
|
Goal |
Groothandel in medicijnen voor ontwikkelingslanden |
Relations
|
Companies on same address |
Stichting Ida Charity
Foundation Registration number: 412119530000 IDA International Holding
B.V. Registration number: 342260630000 IDA International Services
B.V. Registration number: 342260740000 IDA International
Participatie B.V. Registration number: 342260810000 |
Management
Active management
E.J. de Voogd (Edwin Johannes)
Netherlands
Competence: Fully authorized Function: Manager
Starting date: 2007-12-01
Date of birth: 1961-02-21, Middelburg, NL
M.W. Günsberg (Marek Willem)
Netherlands
Function: Chairman Starting date: 2004-11-30
Date of birth: 1948-10-02, Oldenzaal, NL
P. Roelofs (Peter)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2005-05-02
Date of birth: 1965-10-17, Hattem, NL
P.C.J. Seure (Petrus Cornelis
Johannes)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2007-03-01
Date of birth: 1969-03-08, Harmelen, NL
W.O. Schimmel (Willem Otto)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2007-03-01
Date of birth: 1966-05-27, Apeldoorn, NL
M.J. de Goeje (Michaël Jan)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2009-02-01
Date of birth: 1955-07-23, Delft, NL
N.P.M. Bablon (Nicolas Pierre
Marie)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2010-01-01
Date of birth: 1969-05-09, Lille, FR
W.J.G. Gort - Krist (Wendelina
Jantina Grietje)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 1999-07-01
Date of birth: 1952-12-12, Termunten, NL
V. Segovia Sman (Vicente)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2008-06-13
Date of birth: 1969-01-21, Wormerveer, NL
V. Jansen - Klaassen (Vanessa)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2010-01-01
Date of birth: 1980-08-18, Heerhugowaard, NL
D.J.P. Antoni (Diederick Jean
Pierre)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2011-01-01
Date of birth: 1967-02-11, Johannesburg, ZA
M.P.W. Krijger (Menno Pieter
Willem)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2012-02-01
Date of birth: 1963-07-07, Krommenie, NL
J.F. Koopman (Johan Friso)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2012-11-01
Date of birth: 1969-02-11, Wieringermeer, NL
L.C. Katz - Ruttenberg
(Leontien Clara)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2013-05-01
Date of birth: 1963-09-13, Amsterdam, NL
W.M.W. Eggen (Wendy Maria
Wilhelmina)
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2013-05-15
Date of birth: 1968-02-17, Heerlen, NL
A.C.W. ten Bruggencate (Albert
Cornelis Willem)
Netherlands
Function: Member of the Board of Trustees Starting date: 2009-06-11
Date of birth: 1947-06-09, De Bilt, NL
M.R. Damen (Maria Regina)
Netherlands
Function: Member of the Board of Trustees Starting date:
2014-06-12
of birth: 1959-04-23, Amsterdam, NL Involved with the
following companies
• Suplica B.V.
Binnen Parallelweg 27 5701PH Helmond Netherlands
Registration number: 170729700000 Function:
Proxy
C.M. Levie - Hodgkin
(Catherine Margaret)
Netherlands
Function: Member of the Board of Trustees Starting date:
2014-06-12
Date of birth: 1952-12-16, Khartoum, SD
Employees
|
Total according to the
Chamber of Commerce |
114 |
|
|
|
|
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Total |
114 |
162 |
166 |
118 |
114 |
Payments
|
Description |
Payments made under regular condition |
Key
figures
|
|
|
|
||
|
|
|
|
|
|
|
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
1,03 |
1,03 |
1,05 |
1,23 |
1,50 |
|
Current ratio |
1,10 |
1,18 |
1,31 |
1,71 |
2,02 |
|
Working capital/ balance total |
0,09 |
0,15 |
0,23 |
0,40 |
0,48 |
|
Equity / balance total |
0,10 |
0,16 |
0,25 |
0,44 |
0,53 |
|
Equity / Fixed assets |
15,05 |
11,42 |
11,12 |
10,79 |
9,78 |
|
Equity / liabilities |
0,11 |
0,20 |
0,34 |
0,78 |
1,12 |
|
Balance total / liabilities |
1,11 |
1,20 |
1,34 |
1,78 |
2,12 |
|
Working capital |
28.848.000 |
25.568.000 |
23.000.000 |
22.840.000 |
21.912.000 |
|
Equity |
30.799.000 |
27.308.000 |
25.184.000 |
25.089.000 |
24.166.000 |
|
Mutation equity |
12,78 |
8,43 |
0,38 |
3,82 |
7,34 |
|
Mutation short term liabilities |
103,93 |
87,02 |
131,82 |
49,95 |
21,29 |
|
Return on total assets (ROA) |
1,47 |
1,69 |
0,12 |
2,14 |
3,93 |
|
Return on equity (ROE) |
15,07 |
10,32 |
0,47 |
4,88 |
7,45 |
|
Gross profit margin |
1,65 |
1,67 |
0,11 |
0,81 |
1,57 |
|
Net profit margin |
1,29 |
1,23 |
0,06 |
0,59 |
1,48 |
|
Average collection ratio |
0,95 |
1,24 |
2,22 |
4,91 |
5,21 |
|
Average payment ratio |
15,10 |
8,48 |
6,17 |
6,19 |
4,22 |
|
Equity turnover ratio |
8,78 |
6,31 |
6,55 |
6,28 |
4,62 |
|
Total assets turnover ratio |
0,86 |
1,03 |
1,65 |
2,75 |
2,44 |
|
Fixed assets turnover ratio |
132,08 |
72,00 |
72,80 |
67,78 |
45,12 |
|
Inventory conversion ratio |
13,88 |
8,01 |
8,45 |
10,28 |
10,01 |
|
Turnover |
270.374.000 |
172.219.000 |
164.896.000 |
157.666.000 |
111.542.000 |
|
Gross margin |
15.342.000 |
13.915.000 |
10.240.000 |
10.488.000 |
10.849.000 |
|
Operating result |
4.472.000 |
2.872.000 |
184.000 |
1.276.000 |
1.756.000 |
|
Net result after taxes |
3.491.000 |
2.124.000 |
95.000 |
923.000 |
1.652.000 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Cashflow |
3.832.000 |
2.448.000 |
417.000 |
1.278.000 |
2.031.000 |
|
Gross profit |
|
|
164.896.000 |
157.666.000 |
111.542.000 |
|
EBIT |
4.472.000 |
2.872.000 |
184.000 |
1.276.000 |
1.756.000 |
|
EBITDA |
4.813.000 |
3.196.000 |
506.000 |
1.631.000 |
2.135.000 |
Summary
The 2013 financial result structure is a postive working captial of 28.848.000 euro, which is in
agreement with 9 % of the total assets of the company.
The working capital has increase with 12.83 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.
The improvement between 2012 and 2013 has mainly been caused by a current liabilities reduction.
The current ratio of the company in 2013 was 1.1. 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 1.03. 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 25.568.000 euro, which is in agreement with 15 % of the total assets of the company.
The working capital has increase with 11.17 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.
The improvement between 2011 and 2012 has mainly been caused by a current liabilities reduction.
The current ratio of the company in 2012 was 1.18. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2012 of the company was 1.03. 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 |
There is no financial data published |
|
Type of annual account |
Consolidated |
|
Annual account |
Stichting International
Dispensary Association |
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 |
2.047.000 |
2.392.000 |
2.265.000 |
2.326.000 |
2.472.000 |
|
Fixed assets |
2.047.000 |
2.392.000 |
2.265.000 |
2.326.000 |
2.472.000 |
|
Total stock |
19.483.000 |
21.492.000 |
19.523.000 |
15.342.000 |
11.148.000 |
|
Accounts receivable |
15.310.000 |
16.900.000 |
|
24.452.000 |
25.428.000 |
|
Other receivables |
2.599.000 |
3.398.000 |
|
1.022.000 |
1.031.000 |
|
Total receivables |
17.909.000 |
20.298.000 |
26.721.000 |
25.474.000 |
26.459.000 |
|
Liquid funds |
275.245.000 |
122.937.000 |
51.164.000 |
14.122.000 |
5.711.000 |
|
Current assets |
312.637.000 |
164.727.000 |
97.408.000 |
54.938.000 |
43.318.000 |
|
Total assets |
314.684.000 |
167.119.000 |
99.673.000 |
57.264.000 |
45.790.000 |
|
Total equity |
30.799.000 |
27.308.000 |
25.184.000 |
25.089.000 |
24.166.000 |
|
Provisions |
96.000 |
652.000 |
81.000 |
77.000 |
218.000 |
|
Accounts payable |
20.948.000 |
10.578.000 |
15.635.000 |
18.504.000 |
10.697.000 |
|
Other short term liabilities |
262.841.000 |
128.581.000 |
58.773.000 |
13.594.000 |
10.709.000 |
|
Short term liabilities |
283.789.000 |
139.159.000 |
74.408.000 |
32.098.000 |
21.406.000 |
|
Total short and long term
liabilities |
283.885.000 |
139.811.000 |
74.489.000 |
32.175.000 |
21.624.000 |
|
Total liabilities |
314.684.000 |
167.119.000 |
99.673.000 |
57.264.000 |
45.790.000 |
Summary
The total assets of the company increased with 88.3 % between 2012 and 2013.
Despite the assets growth, the non current assets decreased with -14.42 %. The asset growth has mainly been financed by a debt increase of 103.05 %. The Net Worth, however, grew with 12.78 %.
In 2013 the assets of the company were 0.65 % composed of fixed assets and 99.35 % by current assets. The assets are being financed by an equity of 9.79 %, and total debt of 90.21 %.
The total assets of the company increased with 67.67 % between 2011 and 2012. The fixed asset growth of 5.61 % is lower than the total asset growth. The asset growth has mainly been financed by a debt increase of 87.69 %. The Net Worth, however, grew with 8.43 %.
In 2012 the assets of the company were 1.43 % composed of fixed assets and 98.57 % by current assets. The assets are being financed by an equity of 16.34 %, and total debt of 83.66 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
270.374.000 |
172.219.000 |
164.900.000 |
157.675.000 |
111.772.000 |
|
Other operating income |
|
|
4.000 |
9.000 |
230.000 |
|
Net turnover |
270.374.000 |
172.219.000 |
164.896.000 |
157.666.000 |
111.542.000 |
|
Gross margin |
15.342.000 |
13.915.000 |
10.240.000 |
10.488.000 |
10.849.000 |
|
Wages and salaries |
6.948.000 |
7.340.000 |
6.533.000 |
6.456.000 |
6.571.000 |
|
Amorization and depreciation |
341.000 |
324.000 |
322.000 |
355.000 |
379.000 |
|
Sales |
255.032.000 |
158.304.000 |
154.656.000 |
147.178.000 |
100.693.000 |
|
other operating costs |
3.581.000 |
3.379.000 |
3.205.000 |
2.410.000 |
2.373.000 |
|
Operating expenses |
265.902.000 |
169.347.000 |
164.716.000 |
156.399.000 |
110.016.000 |
|
Operating result |
4.472.000 |
2.872.000 |
184.000 |
1.276.000 |
1.756.000 |
|
Financial income |
169.000 |
160.000 |
88.000 |
100.000 |
181.000 |
|
Financial expenses |
|
213.000 |
153.000 |
152.000 |
137.000 |
|
Financial result |
169.000 |
-53.000 |
-65.000 |
-52.000 |
44.000 |
|
Result on ordinary operations
before taxes |
4.641.000 |
2.819.000 |
119.000 |
1.224.000 |
1.800.000 |
|
Taxation on the result of ordinary activities |
1.150.000 |
695.000 |
24.000 |
301.000 |
148.000 |
|
Result of ordinary
activities after taxes |
3.491.000 |
2.124.000 |
95.000 |
923.000 |
1.652.000 |
|
Net result |
3.491.000 |
2.124.000 |
95.000 |
923.000 |
1.652.000 |
Summary
The turnover of the company grew with 56.99 % between 2012
and 2013.
The gross profit of the company grew with 10.26 % between 2012 and 2013. The operating result of the company grew with 55.71 % between 2012 and 2013. 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 -13.02 % 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 -16.5 to a level of 0.86.
The Net Result of the company decreased by 64.36 % 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 46.03 % of the analysed period, being 15.07 % in the year 2013.
The company's financial structure has slowed down its financial profitability.
The turnover of the company grew with 4.44 % between 2011 and 2012. The gross profit of the company grew with 35.89 % between 2011 and 2012. The operating result of the company grew with 1460.87 % 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 1308.33 % of the analysed period, being equal to 2011 % in the year 2012. Despite the growth the assets turnover decreased, whose index evolved with -37.58 % to a level of 1.03.
The Net Result of the company decreased by 2135.79 % 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 2095.74 % of the analysed period, being 10.32 % 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
Company
structure
|
Relations |
4 |
Stichting International
Dispensary Association
Slochterweg 35
1027AA Amsterdam Netherlands
Registration number: 331709050000
• IDA International Holding B.V.
Slochterweg
35
1027AA AMSTERDAM Netherlands
Registration number: 342260630000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.