MIRA INFORM REPORT

 

 

Report No. :

334602

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

FERRO FAST B.V.

 

 

Registered Office :

Dorser 3 5711LE Someren

 

 

Country :

Netherlands

 

 

Financials (as on) :

2014

 

 

Date of Incorporation :

01.03.1995

 

 

Com. Reg. No.:

KvK-nummer: 17087803

 

 

Legal Form :

Private company

 

 

Line of Business :

Wholesale of other machines, equipment and supplies for manufacturing and trade n.e.c.

 

 

No. of Employee :

2

 

 

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                        Ferro Fast B.V.

Operative address                    Dorser 3

5711LE Someren

Netherlands

 

Legal form                               Private Company

Registration number                KvK-nummer: 17087803

VAT-number                             803530870

 

 

Year

 

2014

Mutation

2013

Mutation

2012

Fixed assets

20.563

-59,37

50.611

-31,94

74.367

Total receivables

305.526

-38,02

492.937

0,54

490.305

Total equity

520.639

-8,85

571.161

8,62

525.823

Short term liabilities

418.999

-16,85

503.881

-9,31

555.625

Working capital

530.265

-11,33

598.036

13,25

528.046

Quick ratio

0,73

-25,51

0,98

10,11

0,89

 

 

 

 

Contact information

 

Company name                        Ferro Fast B.V.

Trade names                            Ferro Fast B.V.

Operative address                    Dorser 3

5711LE Someren

 

Netherlands

Correspondence address         Postbus 178

5710AD Someren

Netherlands

Telephone number                   0493492168

Email address                          info@ferrofast.nl

Website                                    www.ferrofast.nl

 

 

Registration

 

Registration number                KvK-nummer: 17087803

Branch number                        000005163730

VAT-number                             803530870

Status                                      Active

 

First registration company

register                                    1995-08-23

Memorandum                           1995-08-14

Establishment date                  1995-03-01

 

Legal form                               Private Company

Legal person since                   1995-08-14

Last proposed admendment     2013-08-19

 

Issued placed capital               EUR 92

Paid up share capital               EUR 92

 

 

Activities

 

SBI                               Wholesale of other machines, equipment and supplies for manufacturing and trade n.e.c.

(46699)

 

Exporter                       No

Importer                       No

 

Goal                             Groothandel in bevestigingsmaterialen

 

 

Relations

 

Companies on same address               Ferro Fast Holding B.V.

Registration number:                             171910230000

Ferro Fast Onroerend Goed B.V.

Registration number: 171906280000

 

 

Management

 

Active management      SLM Holding B.V.

Bosbes 5

5708DA HELMOND

Netherlands

Registration number: 171910210000

Competence: Fully authorized

Function: Manager

Starting date: 2013-06-13

HPJ Holding B.V.

Kerkendijk 44

5712EV SOMEREN

Netherlands

Registration number: 171910220000

Competence: Fully authorized

Function: Manager

Starting date: 2013-06-13

 

 

Employees

 

Year

2015

2014

2013

2012

2011

Total

2

2

2

2

2

 

 

 

 

Payments

 

Description                  The payments are regular

 

 

Key figures

 

Year

 

2014

2013

2012

2011

2010

Quick ratio

0,73

0,98

0,89

0,74

1,01

Current ratio

2,27

2,19

1,95

1,77

2,09

Working capital/ balance total

0,55

0,52

0,46

0,38

0,46

Equity / balance total

0,54

0,50

0,45

0,43

0,52

Equity / Fixed assets

25,32

11,29

7,07

3,84

4,65

Equity / liabilities

1,16

0,98

0,83

0,77

1,07

Balance total / liabilities

2,16

1,98

1,83

1,77

2,07

 

Year

2014

2013

2012

2011

2010

Working capital

530.265

598.036

528.046

458.086

396.059

Equity

520.639

571.161

525.823

516.595

440.492

Mutation equity

-8,85

8,62

1,79

17,28

4,56

Mutation short term liabilities

-16,85

-9,31

-7,07

64,76

25,44

 

 

Summary         The 2014 financial result structure is a postive working captial of 530.265 euro, which is in

agreement with 55 % of the total assets of the company.

The working capital has diminished with -11.33 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

The deterioration between 2013 and 2014 has mainly been caused by a reduction of the

current assets.

The current ratio of the company in 2014 was 2.27. 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 0.73. 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 598.036 euro, which is in

agreement with 52 % of the total assets of the company.

The working capital has increased with 13.25 % 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 2.19. 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 0.98. 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 company is obliged to file its financial statements.

Type of annual account            Corporate

Annual account                        Ferro Fast B.V.

Dorser 3

5711LE Someren

Netherlands

Registration number: 170878030000

 

 

Balance sheet

 

Year

2014

2013

2012

2011

2010

End date

2014-12-31

2013-12-31

2012-12-31

2011-12-31

2010-12-31

Other tangible fixed assets

20.563

 

 

 

 

Tangible fixed assets

20.563

50.611

74.367

134.671

94.676

Fixed assets

20.563

50.611

74.367

134.671

94.676

Other stock

642.000

 

 

 

 

Total stock

642.000

606.819

591.000

613.101

394.000

Other receivables

305.526

 

 

 

 

Total receivables

305.526

492.937

490.305

440.129

360.918

Liquid funds

1.738

2.161

2.366

2.757

4.023

Current assets

949.264

1.101.917

1.083.671

1.055.987

758.941

Total assets

969.827

1.152.528

1.158.038

1.190.658

853.617

Issued capital

92

92

18.151

18.151

18.151

Other reserves

470.678

571.069

507.672

498.444

380.815

Non-distributable profit

49.869

 

 

 

41.526

Total reserves

520.547

571.069

507.672

498.444

422.341

Total equity

520.639

571.161

525.823

516.595

440.492

Long term interest yielding debt

 

77.486

76.590

76.162

50.243

Other long term liabilities

30.189

 

 

 

 

Long term liabilities

30.189

77.486

76.590

76.162

50.243

Other short term liabilities

418.999

 

 

 

 

Short term liabilities

418.999

503.881

555.625

597.901

362.882

Total short and long term liabilities

449.188

581.367

632.215

674.063

413.125

Total liabilities

969.827

1.152.528

1.158.038

1.190.658

853.617

 

Summary         The total assets of the company decreased with -15.85 % between 2013 and 2014.

This downturn is mainly retrievable in the fixed asset decrease of -59.37 %.

Assets reduction is explained by a Net Worth decrease of -8.85 %, and an indebtedness

reduction of -22.74 %.

In 2014 the assets of the company were 2.12 % composed of fixed assets and 97.88 % by

current assets. The assets are being financed by an equity of 53.68 %, and total debt of

46.32 %.

The total assets remained the same between 2012 and 2013.

Despite the fact that the total assets remained the same, the fixed assets decreased with

-31.94 %.

Despite thee unchanged assets the net worth grew with 8.62 %, which has resulted in the fact that the company's indebtedness declined with -8.04 %.

In 2013 the assets of the company were 4.39 % composed of fixed assets and 95.61 % by

current assets. The assets are being financed by an equity of 49.56 %, and total debt of

50.44 %.

 

 

 

 

Analysis

 

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

Region             Zuid-Oost-Brabant

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

In the region Zuid-Oost-Brabant 5034 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-Oost-Brabant 97 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-Oost-Brabant is normal

 

 

Publications

 

Filings                         13-07-2015: De jaarrekening over 2014 is gepubliceerd.

04-09-2014: De jaarrekening over 2013 is gepubliceerd.

04-04-2013: De jaarrekening over 2012 is gepubliceerd.

11-09-2012: De jaarrekening over 2011 is gepubliceerd.

19-04-2012: De jaarrekening over 2010 is gepubliceerd.

30-07-2010: De jaarrekening over 2009 is gepubliceerd.

 

Functions         18-11-2014: Per 27-10-2014 is bestuurder Theodorus Johannes Antonius Maria Visser uit

functie getreden.

18-11-2014: Per 27-10-2014 is bestuurder Henricus Petrus Johannes van Mierlo uit functie

getreden.

31-07-2013: Per 13-06-2013 is bestuurder 17191022 HPJ Holding B.V. in functie getreden.

29-07-2013: Per 13-06-2013 is bestuurder 17191021 SLM Holding B.V. in functie getreden.

 

Amendments    22-08-2013: Geplaatst kapitaal gewijzigd in EUR 92,00 Gestort kapitaal gewijzigd in EUR

92,00.

22-08-2013: Per 19-8-2013 statuten gewijzigd.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.00

UK Pound

1

Rs.99.83

Euro

1

Rs.70.16

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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