MIRA INFORM REPORT

 

 

Report No. :

320205

Report Date :

30.04.2015

 

IDENTIFICATION DETAILS

 

Name :

SCHMOLZ + BICKENBACH B.V.

 

 

Registered Office :

Gildenweg 21, 3334KC Zwijndrecht

 

 

Country :

Netherlands

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

11.10.1954

 

 

Com. Reg. No.:

23042855

 

 

Legal Form :

Private Company

 

 

Line of Business :
  • Wholesale trade (no motor vehicles and motorcycles)
  • Wholesale of ferrous metals and ferrous semi-finished products

 

 

No. of Employee :

49

 

 

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 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

 

Company Summary

 

Company name

SCHMOLZ + BICKENBACH B.V.

Operative address

Gildenweg 21

 

3334KC Zwijndrecht

 

Netherlands

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

10.836.910

-4,76

11.378.095

-4,44

11.906.261

Total receivables

11.811.742

5,68

11.176.408

8,77

10.275.051

Total equity

25.246.635

4,64

24.126.441

2,02

23.649.643

Short term liabilities

7.848.965

6,28

7.384.954

-31,28

10.746.521

Net result

1.143.021

292,86

290.950

142,88

-678.449

Working capital

15.053.425

11,94

13.447.676

0,87

13.332.291

Quick ratio

1,67

7,05

1,56

56,00

1,00

 

 

Contact information

 

Company name

Schmolz + Bickenbach B.V.

Trade names

Schmolz + Bickenbach B.V.

 

Operative address

Gildenweg 21

 

3334KC Zwijndrecht

 

Netherlands

Correspondence address

Postbus 298

 

3330AG Zwijndrecht

 

Netherlands

 

Telephone number

078 6230600

Fax number

078 6101030

Email address

sbstaal@schmolz-bickenbach.nl

Website

www.schmolz-bickenbach.nl

 

 

Registration

 

Registration number

KvK-nummer: 23042855

Branch number

000020086326

VAT-number

001884116

Status

Active

Memorandum

1954-11-22

Establishment date

1954-10-11

Legal form

Private Company

Last proposed admendment

2005-06-17

Issued placed capital

EUR 22.689

Paid up share capital

EUR 22.689

 

 

Activities

 

SBI

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

 

Wholesale of ferrous metals and ferrous semi-finished products (46722)

 

Exporter

Yes

Importer

Yes

Branche organisations

Staalfederatie (branchegroep van Koninklijke metaalunie)

 

 

Goal

De handel in, de import en export van en transitohandel in alle zaken, speciaal in staal,

 

staalwaren en aanverwante zaken

 

Relations

 

Shareholders

Naam: Schmolz + Bickenbach Europe GmbH

 

Bezoekadres: Eupener Strasse 70, 40549 Düsseldorf, Bondsrepubliek Duitsland

 

Ingeschreven in: Handelsregister Düsseldorf, Bondsrepubliek Duitsland onder nummer HRB

 

 

Management

 

Active management J.D. den Hollander (Jan Dirk)

 

Netherlands

 

Competence: Jointly authorized Function: General Director Starting date: 2002-07-01

 

Date of birth: 1959-07-04, Dordrecht, NL

 

Z. Baas (Zeger)

 

Netherlands

 

Competence: Jointly authorized Function: Financieel Manager Starting date: 2007-09-01

 

Date of birth: 1977-04-01, Alblasserdam, NL

 

 

Employees

 

Total according to the Chamber of Commerce

49

 

 

 

 

Year

2014

2013

2012

2011

2010

Total

49

49

49

49

61

Payments

 

Description

Payments are made regularly no complaints are known

 

 

Key figures

 

 

 

 

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,67

1,56

1,00

0,85

2,23

Current ratio

2,92

2,82

2,24

2,09

4,41

Working capital/ balance total

0,45

0,42

0,37

0,36

0,58

Equity / balance total

0,75

0,75

0,66

0,64

0,71

Equity / Fixed assets

2,33

2,12

1,99

2,03

2,77

 

Year

2013

2012

2011

2010

2009

Equity / liabilities

2,97

2,98

1,92

1,81

2,40

Balance total / liabilities

3,97

3,98

2,92

2,81

3,40

Working capital

15.053.425

13.447.676

13.332.291

13.411.940

19.184.779

Equity

25.246.635

24.126.441

23.649.643

24.328.092

23.530.165

Mutation equity

4,64

2,02

-2,79

3,39

-4,59

Mutation short term liabilities

6,28

-31,28

-12,80

118,97

-24,27

Return on total assets (ROA)

3,54

1,23

-1,01

3,63

-4,38

Return on equity (ROE)

4,73

1,64

-1,53

5,63

-6,20

Gross profit margin

0,26

0,73

0,86

3,47

-3,27

Net profit margin

2,04

0,44

-0,91

1,42

-2,67

Average collection ratio

7,14

8,95

6,93

4,57

7,25

Average payment ratio

4,74

5,92

7,25

5,74

5,74

Equity turnover ratio

2,22

2,74

3,15

2,31

1,73

Total assets turnover ratio

1,66

2,05

2,07

1,49

1,22

Fixed assets turnover ratio

5,17

5,81

6,26

4,69

4,80

Inventory conversion ratio

5,70

7,12

5,61

3,68

3,32

Turnover

56.011.790

66.108.878

74.507.188

56.265.729

40.800.864

Gross margin

6.365.570

6.950.692

8.363.817

 

 

Operating result

146.851

481.351

641.794

1.955.110

-1.335.350

Net result after taxes

1.143.021

290.950

-678.449

797.927

-1.089.193

Cashflow

1.687.753

889.458

-45.512

 

 

EBIT

146.851

481.351

641.794

1.955.110

-1.335.350

EBITDA

691.583

1.079.859

1.274.731

 

 

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 15.053.425 euro, which is in

 

agreement with 45 % of the total assets of the company.

 

The working capital has increased with 11.94 % 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 2.92. 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 1.67. 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 13.447.676 euro, which is in agreement with 42 % of the total assets of the company.

 

The working capital remained unchanged compared to previous year. The ratio with respect to the total assets of the company has however, increased.

 

The unchanged capital can be explained by an increase in current assets and a decrease in current liabilities.

 

The current ratio of the company in 2012 was 2.82. 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 1.56. 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

Corporate

Annual account

Schmolz + Bickenbach B.V.

Gildenweg 21

 

3334KC Zwijndrecht Netherlands

 

Registration number: 230428550000

 

 

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

6.836.859

7.346.128

7.657.470

7.884.810

8.392.143

Financial fixed assets

4.000.051

4.031.967

4.248.791

4.123.761

109.934

Fixed assets

10.836.910

11.378.095

11.906.261

12.008.571

8.502.077

Total stock

9.825.398

9.288.950

13.285.470

15.297.728

12.279.712

Accounts receivable

7.028.971

7.412.711

9.681.793

9.055.791

6.406.309

Other receivables

4.782.771

3.763.697

593.258

741.781

703.382

Total receivables

11.811.742

11.176.408

10.275.051

9.797.572

7.109.691

Liquid funds

1.265.250

367.272

518.291

639.939

5.423.139

 

 

Year

2013      

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Current assets

22.902.390

20.832.630

24.078.812

25.735.239

24.812.542

Total assets

33.739.300

32.210.725

35.985.073

37.743.810

33.314.619

Issued capital

22.689

22.689

22.689

22.689

22.689

Share premium reserve

17.250.000

17.250.000

17.250.000

17.250.000

17.250.000

Other reserves

7.973.946

6.853.752

6.376.954

7.055.403

6.257.476

Total reserves

25.223.946

24.103.752

23.626.954

24.305.403

23.507.476

Total equity

25.246.635

24.126.441

23.649.643

24.328.092

23.530.165

Provisions

643.700

699.330

1.588.909

1.092.419

796.691

Long term interest yielding debt

 

 

 

 

3.360.000

Long term liabilities

 

 

 

 

3.360.000

Accounts payable

4.234.767

3.656.006

4.891.135

3.865.251

2.635.379

Other short term liabilities

3.614.198

3.728.948

5.855.386

8.458.048

2.992.384

Short term liabilities

7.848.965

7.384.954

10.746.521

12.323.299

5.627.763

Total short and long term liabilities

8.492.665

8.084.284

12.335.430

13.415.718

9.784.454

Total liabilities

33.739.300

32.210.725

35.985.073

37.743.810

33.314.619

 

Summary

 

The total assets of the company increased with 4.75 % between 2012 and 2013.

 

Despite the assets growth, the non current assets decreased with -4.76 %. The asset growth has mainly been financed by a debt increase of 5.05 %. The Net Worth, however, grew with 4.64 %.

 

In 2013 the assets of the company were 32.12 % composed of fixed assets and 67.88 % by current assets. The assets are being financed by an equity of 74.83 %, and total debt of 25.17 %.

 

The total assets of the company decreased with -10.49 % between 2011 and 2012. This total assets decrease has been reflected in a reduction of non current assets of -4.44 %. The asset reduction is in contrast with the equity growth of 2.02 %. Due to this the total debt decreased with -34.46 %.

 

In 2012 the assets of the company were 35.32 % composed of fixed assets and 64.68 % by current assets. The assets are being financed by an equity of 74.9 %, and total debt of 25.1 %.

 

 

Profit and loss

 

Year

2013

2012

2011

2010

2009

Revenues

56.011.790

66.108.878

74.507.188

56.265.729

40.800.864

Net turnover

56.011.790

66.108.878

74.507.188

56.265.729

40.800.864

Gross margin

6.365.570

6.950.692

8.363.817

 

 

Wages and salaries

3.629.362

3.406.134

4.483.526

 

 

Amorization and depreciation

544.732

598.508

632.937

 

 

Sales

49.646.220

59.158.186

66.143.371

 

 

other operating costs

2.044.625

2.464.699

2.605.560

 

 

Operating expenses

55.864.939

65.627.527

73.865.394

54.310.619

42.136.214

Result in subsidiaries

999.925

 

 

 

 

Operating result

146.851

481.351

641.794

1.955.110

-1.335.350

Financial income

48.219

2.317

75

21.746

133.697

Financial expenses

261

88.341

1.003.581

608.049

256.883

Financial result

47.958

-86.024

-1.003.506

-586.303

-123.186

Result on ordinary operations before taxes

1.194.734

395.327

-361.712

1.368.807

-1.458.536

Taxation on the result of ordinary activities

51.713

104.377

-77.776

341.174

-369.343

Result of ordinary activities after taxes

1.143.021

290.950

-283.936

1.027.633

-1.089.193

Extraordinary expense

 

 

394.513

229.706

 

Extraordinary result after taxation

 

 

-394.513

-229.706

 

Net result

1.143.021

290.950

-678.449

797.927

-1.089.193

 

Summary

 

The turnover of the company decreased by -15.27 % between 2012 and 2013.

 

The gross profit of the company decreased by -8.42 % between 2012 and 2013. The operating result of the company declined with -69.49 % 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 187.8 % of the analysed period, being equal to 2012 % in the year 2013.

 

Despite the growth the assets turnover decreased, whose index evolved with -19.02 % to a level of 1.66.

 

The Net Result of the company decreased by 292.86 % 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 188.41 % of the analysed period, being 4.73 % in the year 2013.

 

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

 

The turnover of the company decreased by -11.27 % between 2011 and 2012. The gross profit of the company decreased by -16.9 % between 2011 and 2012. The operating result of the company declined with -25 % between 2011 and 2012. 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 221.78 % of the analysed period, being equal to 2011 % in the year 2012.

 

Despite the growth the asset turnover remained the same at 2.05. The Net Result of the company decreased by 142.88 % 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 207.19 % of the analysed period, being 1.64 % 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

Zuid-Holland Oost

In the Netherlands 109662 of the companies are registered with the SBI code 46 In the region Zuid-Holland Oost 4943 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 Zuid-Holland Oost 86 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 Zuid-Holland Oost is normal

 

 

Publications

 

Filings

 

01-12-2014: De jaarrekening over 2013 is gepubliceerd.

 

20-09-2013: De jaarrekening over 2012 is gepubliceerd.

 

29-01-2013: De jaarrekening over 2011 is gepubliceerd.

 

09-02-2012: De jaarrekening over 2010 is gepubliceerd.

 

22-07-2010: De jaarrekening over 2009 is gepubliceerd.

 

Functions

 

19-12-2013: Per 12-12-2013 is bestuurder Michael Storm uit functie getreden.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.20

UK Pound

1

Rs.97.10

Euro

1

Rs.69.34

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

VNT

 

               

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.