MIRA
INFORM REPORT
|
Report No. : |
334568 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NNZ B.V. |
|
|
|
|
Registered Office : |
Aarhusweg 1 9723JJ |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.12.1922 |
|
|
|
|
Com. Reg. No.: |
02039320 |
|
|
|
|
Legal Form : |
Private company with regular structure |
|
|
|
|
Line of Business : |
Wholesale of packaging materials |
|
|
|
|
No. of Employees : |
29 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. 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 underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government 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 has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.
|
Source
: CIA |
Summary
Company name NNZ B.V.
Operative address Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Legal form Besloten vennootschap met gewone structuur
Registration number KvK-nummer: 02039320
VAT-number 006718449
|
Year |
2014 |
Mutation |
2013 |
|
Mutation |
2012 |
|
Fixed assets |
11.795.000 |
4,90 |
11.244.000 |
S |
-3,52 |
11.654.000 |
|
Total receivables |
15.553.000 |
-7,84 |
16.876.000 |
|
-3,02 |
17.402.000 |
|
Total equity |
22.355.000 |
15,34 |
19.382.000 |
|
3,81 |
18.671.000 |
|
Short term liabilities |
24.288.000 |
-13,68 |
28.137.000 |
|
5,37 |
26.703.000 |
|
Net result |
3.157.000 |
111,45 |
1.493.000 |
|
-36,28 |
2.343.000 |
|
Working capital |
18.951.000 |
9,06 |
17.376.000 |
|
3,40 |
16.805.000 |
|
Quick ratio |
0,75 |
11,94 |
0,67 |
|
-5,63 |
0,71 |
Contact information
Company name NNZ B.V.
Trade names NNZ B.V.
Operative address Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Correspondence address Postbus 104
9700AC GRONINGEN
Netherlands
Telephone number 050-5207800
Fax number 050 5207801
Email address info@nnz.nl
Website www.nnz.nl
Registration
Registration number KvK-nummer: 02039320
Registered in Kamer van Koophandel Noord-Nederland
Branch number 000017703069
VAT-number 006718449
Status Active
First registration company register 1983-12-23
Memorandum 1983-12-23
Establishment date 1922-12-15
Legal form Besloten vennootschap met gewone structuur
Legal person since 1983-12-23
Last proposed admendment 2002-10-03
Issued placed capital EUR 168.750
Paid up share capital EUR 168.750
Activities
SBI Wholesale of
packaging materials (46696)
Exporter No
Importer No
Goal Groothandel in
en im- en export van verpakkingsmateriaal, vooral zakken van jute, papier,
polyethyleen, alsmede netzakken
Shareholders NNZ Beheer
B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number:
020471710000
Percentage: 100%
Branches NNZ
B.V.
De Poort 1
4411PB RILLAND
Netherlands
Registration number:
020393200003
Companies on same address Cresco
B.V.
Registration number:
020570780000
Hanze Sociëteit Groningen
Registration number:
020850480000
Le Vide Vici B.V.
Registration number:
020570760000
Libau B.V.
Registration number:
020570790000
Magellan B.V.
Registration number:
020570800000
NNZ Beheer B.V.
Registration number:
020471710000
Stichting
Administratiekantoor Aandelen Libau
Registration number:
410116010000
Talent B.V.
Registration number:
020570770000
Will en Wim Boot Stichting
Registration number:
410137830000
RhomCo B.V.
Registration number:
011803670000
Liability statements NNZ
Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number:
020471710000
date of issue: 1991-12-24
Starting date: 1990-05-31
Bank details
Bank BNP Paribas SA
Account number: 639818269
BIC: BNPANL2A
Accounts
ING Bank NV
Account number:
NL80INGB0000821237
BIC: INGBNL2A
Management
Active management NNZ
Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number:
020471710000
Competence: Fully
authorized
Function: Manager
Starting date: 1990-05-31
L.W.F. Boot (Leendert
Willem Frederik)
Netherlands
Competence: Fully
authorized
Function: Manager
Starting date: 1999-02-01
Date of birth: 1959-06-29,
Groningen, NL
R.K. Veld (Roelof Klaas)
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 1999-04-01
Date of birth: 1968-08-30,
Emmen, NL
J.K. Zwier (Jan Koert)
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2000-06-15
Date of birth: 1961-04-15,
Groningen, NL
R. Abel (Robert)
Netherlands
Competence: Fully
authorized
Function: Proxy
Starting date: 2001-08-20
Date of birth: 1955-05-13,
Leeuwarden, NL
R.T. Padding - de Haan
(Renskje Tinie)
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2010-09-09
Date of birth: 1966-11-19,
Groningen, NL
R.C. Sauchelli (Roberto
Christiaan)
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2010-09-09
Date of birth: 1978-06-10, Groningen, NL
Employees
|
Year |
2015 |
2013 |
|
Total |
29 |
29 |
Payments
Score 6,83
Description The payments are regular
Key figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|||||||||
|
Quick ratio |
0,75 |
0,67 |
0,71 |
0,66 |
0,70 |
|||||||||
|
Current ratio |
1,78 |
1,62 |
1,63 |
1,60 |
1,53 |
|||||||||
|
Working capital/ balance total |
0,34 |
0,31 |
0,30 |
0,30 |
0,28 |
|||||||||
|
Equity / balance total |
0,41 |
0,34 |
0,34 |
0,34 |
0,32 |
|||||||||
|
Equity / Fixed assets |
1,90 |
1,72 |
1,60 |
1,79 |
1,66 |
|||||||||
|
Equity / liabilities |
0,68 |
0,52 |
0,51 |
0,51 |
0,47 |
|||||||||
|
Balance total / liabilities |
1,68 |
1,52 |
1,51 |
1,51 |
1,41 |
|||||||||
|
Working capital |
18.951.000 |
17.376.000 |
16.805.000 |
15.186.000 |
13.479.000 |
|||||||||
|
|
|
|
|
|
|
|||||||||
|
Equity |
22.355.000 |
19.382.000 |
18.671.000 |
16.811.000 |
15.368.000 |
|||||||||
|
Mutation equity |
15,34 |
3,81 |
11,06 |
9,39 |
14,23 |
|||||||||
|
Mutation short term liabilities |
-13,68 |
5,37 |
5,83 |
0,08 |
13,91 |
|||||||||
|
|
||||||||||||||
|
Return on total assets (ROA) |
6,62 |
4,57 |
5,50 |
5,58 |
6,61 |
|||||||||
|
Return on equity (ROE) |
16,29 |
13,37 |
16,24 |
16,53 |
20,63 |
|||||||||
|
Gross profit margin |
3,54 |
2,90 |
3,38 |
3,24 |
3,69 |
|||||||||
|
Net profit margin |
2,48 |
1,22 |
1,91 |
1,62 |
2,02 |
|||||||||
|
|
||||||||||||||
|
Average collection ratio |
5,25 |
4,35 |
4,59 |
4,57 |
4,36 |
|||||||||
|
Average payment ratio |
8,20 |
7,26 |
7,05 |
7,86 |
6,91 |
|||||||||
|
Equity turnover ratio |
5,70 |
6,32 |
6,57 |
6,86 |
7,15 |
|||||||||
|
Total assets turnover ratio |
2,32 |
2,16 |
2,22 |
2,31 |
2,29 |
|||||||||
|
Fixed assets turnover ratio |
10,81 |
10,90 |
10,52 |
12,29 |
11,85 |
|||||||||
|
Inventory conversion ratio |
5,08 |
4,59 |
4,99 |
4,86 |
5,23 |
|||||||||
|
|
||||||||||||||
|
Turnover |
127.518.000 |
122.530.000 |
122.648.000 |
115.260.000 |
109.855.000 |
|||||||||
|
Operating result |
4.510.000 |
3.549.000 |
4.141.000 |
3.733.000 |
4.055.000 |
|||||||||
|
Net result after taxes |
3.157.000 |
1.493.000 |
2.343.000 |
1.863.000 |
2.219.000 |
|||||||||
|
EBIT |
4.510.000 |
3.549.000 |
4.141.000 |
3.733.000 |
4.055.000 |
|||||||||
Summary The 2014
financial result structure is a postive working captial of 18.951.000 euro, which
is in agreement with 34 % of the total assets of the company.
The working capital has
increased with 9.06 % compared to previous year. The ratio, with respect to the
total assets of the company has however, increased.
The improvement between
2013 and 2014 has mainly been caused by an increase of the current assets.
The current ratio of the
company in 2014 was 1.78. A company with a current ratio between 1.5 and 3.0
generally indicates good short-term financial strength.
The quick ratio in 2014 of
the company was 0.75. 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 17.376.000 euro, which is in
agreement with 31 % of the total assets of the company.
The working capital has
increased with 3.4 % 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 a current liabilities reduction.
The current ratio of the
company in 2013 was 1.62. 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 0.67. A company with a Quick Ratio of less than 1 cannot
currently pay back its current liabilities.
Financial statement
Last annual account 2014
Remark annual
account The financial
statements shown in the report relate to the consolidated financial statements
of the group.
Type of annual account Consolidated
Annual account NNZ
Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 020471710000
Balance
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Intangible
fixed assets |
|
6.000 |
18.000 |
||
|
Tangible
fixed assets |
10.841.000 |
10.781.000 |
11.021.000 |
8.760.000 |
8.763.000 |
|
Financial
fixed assets |
954.000 |
463.000 |
633.000 |
616.000 |
492.000 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Fixed
assets |
11.795.000 |
11.244.000 |
11.654.000 |
9.382.000 |
9.273.000 |
|
|
|||||
|
Total
stock |
25.110.000 |
26.722.000 |
24.576.000 |
23.722.000 |
20.991.000 |
|
Accounts receivable |
14.824.000 |
16.236.000 |
16.572.000 |
13.886.000 |
15.048.000 |
|
Other receivables |
729.000 |
640.000 |
830.000 |
775.000 |
847.000 |
|
Total
receivables |
15.553.000 |
16.876.000 |
17.402.000 |
14.661.000 |
15.895.000 |
|
Liquid funds |
2.576.000 |
1.915.000 |
1.530.000 |
2.034.000 |
1.804.000 |
|
Current
assets |
43.239.000 |
45.513.000 |
43.508.000 |
40.417.000 |
38.690.000 |
|
Total
assets |
55.034.000 |
56.757.000 |
55.162.000 |
49.799.000 |
47.963.000 |
|
Total
equity |
22.355.000 |
19.382.000 |
18.671.000 |
16.811.000 |
15.368.000 |
|
|
|||||
|
Provisions |
1.337.000 |
1.353.000 |
1.161.000 |
1.090.000 |
1.070.000 |
|
Long term interest yielding debt |
7.054.000 |
7.885.000 |
8.627.000 |
6.667.000 |
6.314.000 |
|
Long
term liabilities |
7.054.000 |
7.885.000 |
8.627.000 |
6.667.000 |
6.314.000 |
|
Accounts payable |
7.549.000 |
9.763.000 |
10.256.000 |
8.665.000 |
7.522.000 |
|
Other short term liabilities |
16.739.000 |
18.374.000 |
16.447.000 |
16.566.000 |
17.689.000 |
|
Short
term liabilities |
24.288.000 |
28.137.000 |
26.703.000 |
25.231.000 |
25.211.000 |
|
Total
short and long term liabilities |
32.679.000 |
37.375.000 |
36.491.000 |
32.988.000 |
32.595.000 |
|
Total
liabilities |
55.034.000 |
56.757.000 |
55.162.000 |
49.799.000 |
47.963.000 |
Summary The total
assets of the company decreased with -3.04 % between 2013 and 2014.
Despite the total assets
decrease, non current assets grew with 4.9 %.
The asset reduction is in
contrast with the equity growth of 15.34 %. Due to this the total debt
decreased with -12.56 %.
In 2014 the assets of the
company were 21.43 % composed of fixed assets and 78.57 % by current assets.
The assets are being financed by an equity of 40.62 %, and total debt of
59.38%.
The total assets of the
company increased with 2.89 % between 2012 and 2013.
Despite the assets growth,
the non current assets decreased with -3.52 %.
The asset growth has mainly
been financed by a Net Worth increase of 3.81 %. Debt, however, grew with 2.42
%.
In 2013 the assets of the
company were 19.81 % composed of fixed assets and 80.19 % by
current assets. The assets
are being financed by an equity of 34.15 %, and total debt of 65.85 %.
Profit and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Revenues |
127.518.000 |
122.530.000 |
122.648.000 |
115.260.000 |
109.855.000 |
|
Net
turnover |
127.518.000 |
122.530.000 |
122.648.000 |
115.260.000 |
109.855.000 |
|
|
|||||
|
Operating expenses |
123.008.000 |
118.981.000 |
118.507.000 |
111.527.000 |
105.800.000 |
|
Result in subsidiaries |
72.000 |
32.000 |
-8.000 |
33.000 |
45.000 |
|
Operating
result |
4.510.000 |
3.549.000 |
4.141.000 |
3.733.000 |
4.055.000 |
|
|
|||||
|
Financial expenses |
940.000 |
990.000 |
1.100.000 |
987.000 |
929.000 |
|
Financial result |
-940.000 |
-990.000 |
-1.100.000 |
-987.000 |
-929.000 |
|
Result
on ordinary operations before taxes |
3.642.000 |
2.591.000 |
3.033.000 |
2.779.000 |
3.171.000 |
|
|
|||||
|
Taxation on the result of ordinary activities |
489.000 |
1.101.000 |
1.079.000 |
909.000 |
980.000 |
|
Result
of ordinary activities after taxes |
3.153.000 |
1.490.000 |
1.954.000 |
1.870.000 |
2.191.000 |
|
|
|||||
|
Extraordinary income |
4.000 |
3.000 |
389.000 |
|
28.000 |
|
Extraordinary expense |
|
|
|
7.000 |
|
|
Extraordinary result after taxation |
4.000 |
3.000 |
389.000 |
-7.000 |
28.000 |
|
Net
result |
3.157.000 |
1.493.000 |
2.343.000 |
1.863.000 |
2.219.000 |
Summary The turnover of
the company grew with 4.07 % between 2013 and 2014.
The operating result of the
company grew with 27.08 % 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 44.86% of the
analysed period, being equal to 2013 % in the year 2014.
This growth has contributed
to the increase in assets turnover, increasing by 7.41 % reaching 2.32.
The Net Result of the company
decreased by 111.45 % between 2013 and 2014.
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 21.84 % of the analysed period, being 16.29 % in the
year 2014.
The company's financial
structure has slowed down its financial profitability.
The turnover of the company
remained the same between 2012 and 2013.
The operating result of the
company declined with -14.3 % 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 -16.91% 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 -2.7 to a level of 2.16.
The Net Result of the
company increased by -36.28 % 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 -17.67 % of the analysed period, being 13.37 % in the
year 2013.
The company's financial
profitability has been positively affected by its financial structure.
Analysis
Branch (SBI) Wholesale trade
(no motor vehicles and motorcycles) (46)
Region Groningen
In the Netherlands 109662
of the companies are registered with the SBI code 46
In the region Groningen 2092
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 Groningen 53
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 Groningen is normal
Publications
Consent
statements 25-06-2015:
Voor boekjaar 2014 is een instemmingsverklaring gedeponeerd.
23-06-2014: Voor boekjaar
2013 is een instemmingsverklaring gedeponeerd.
28-05-2013: Voor boekjaar
2012 is een instemmingsverklaring gedeponeerd.
21-06-2012: Voor boekjaar
2011 is een instemmingsverklaring gedeponeerd.
23-08-2011: Voor boekjaar
2010 is een instemmingsverklaring gedeponeerd.
Company structure
Relations 5
Stichting Administratiekantoor Aandelen Libau
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number: 410116010000
• Libau B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number:
020570790000
• NNZ Beheer B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number:
020471710000
• NNZ B.V.
Aarhusweg 1
9723JJ GRONINGEN
Netherlands
Registration number:
020393200000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
UK Pound |
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.