MIRA INFORM REPORT
|
Report No. : |
336452 |
|
Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KADANT JOHNSON EUROPE B.V. |
|
|
|
|
Registered Office : |
Nijverheidslaan 2125 1382lg Weesp |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.10.1957 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 32018396 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Manufacture of machinery for paper and paperboard production. |
|
|
|
|
No. of Employee : |
68 |
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 Kadant Johnson Europe B.V.
Operative
address Nijverheidslaan 2125
1382LG Weesp
Netherlands
Legal
form Private Company
Registration
number KvK-nummer: 32018396
VAT-number
001133184
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
68.739.000 |
27,19 |
54.043.000 |
2,20 |
52.878.000 |
|
Total receivables |
5.011.000 |
43,71 |
3.487.000 |
-9,05 |
3.834.000 |
|
Total equity |
69.590.000 |
21,71 |
57.177.000 |
4,69 |
54.618.000 |
|
Short term liabilities |
6.268.000 |
33,62 |
4.691.000 |
-8,93 |
5.151.000 |
|
Net result |
9.619.000 |
275,89 |
2.559.000 |
-74,79 |
10.150.000 |
|
Working capital |
851.000 |
-72,85 |
3.134.000 |
80,11 |
1.740.000 |
|
Quick ratio |
0,92 |
-33,81 |
1,39 |
28,70 |
1,08 |
Contact
information
Company
name Kadant Johnson Europe B.V.
Trade
names Kadant Johnson Europe B.V.
Operative
address Nijverheidslaan 2125
1382LG Weesp
Netherlands
Correspondence
address
Postbus 68
1380AB Weesp
Netherlands
Telephone
number 0294494200
Fax
number 0294431359
Email
address reception.weesp@kadant.com
Registration
Registration
number KvK-nummer: 32018396
Branch
number 000016112520
VAT-number
001133184
Status
Active
First
registration
company
register 1957-10-07
Memorandum
1957-10-07
Establishment
date 1957-10-07
Legal
form Private Company
Legal
person since 1972-12-01
Last
proposed admendment 2005-10-20
Issued
placed capital EUR 58.981
Paid
up share capital EUR 58.981
Activities
SBI Manufacture of machinery for paper and paperboard production (2895)
Exporter Yes
Importer No
Goal Metaalbewerkingsbedrijf (groothandel, fabricage en export van machines en onderdelen)
Relations
Shareholders
Kadant Luxembourg S.à.r.l.
5, Rue Guillaume Kroll
L-1882 Luxemburg
Luxembourg
Percentage: 100%
Shareholders
Naam: Kadant Luxembourg S.à.r.l.
Bezoekadres: 5, rue Guillaume Kroll, L-1882
Luxemburg, Luxemburg
Ingeschreven in: Registre de Commerce et des
sociétés Luxemburg, Luxemburg onder
nummer B 97943
Enig aandeelhouder sedert: 16-02-2007
Management
Active
management F.H. Westerhout (Fredrik Han)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2003-05-01
Date of birth: 1964-04-09, Vlaardingen, NL
J.W. Painter (Jonathan Wood)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2010-01-03
Date of birth: 1959-02-03, Waterbury
(Connecticut), US
E.T. Langevin (Eric Thomas)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2010-01-03
Date of birth: 1962-11-23, Fort Dix (New
Jersey), US
F.J.P. van Riet (Franciscus Johannes Petrus)
1261RL
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2002-01-01
Date of birth: 1963-06-18, Hilversum, NL
J.J.N. Koster (Joseph Johannes Nicolaas)
8252KD
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2003-01-01
Date of birth: 1963-01-24, IJsselmuiden, NL
W.J. Oostrom (Wijnandus Johannes)
1335CE
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2004-01-01
Date of birth: 1969-04-26, Utrecht, NL
Employees
|
Year |
2015 |
2013 |
2012 |
2011 |
2010 |
|
Total |
68 |
57 |
68 |
68 |
60 |
Key
figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
0,92 |
1,39 |
1,08 |
1,47 |
1,11 |
|
Current ratio |
1,14 |
1,67 |
1,34 |
1,80 |
1,26 |
|
Working capital/ balance total |
0,01 |
0,05 |
0,03 |
0,06 |
0,03 |
|
Equity / balance total |
0,92 |
0,92 |
0,91 |
0,92 |
0,89 |
|
Equity / Fixed assets |
1,01 |
1,06 |
1,03 |
1,07 |
1,04 |
|
Equity / liabilities |
11,10 |
12,19 |
10,60 |
11,78 |
7,78 |
|
Balance total / liabilities |
12,10 |
13,19 |
11,60 |
12,78 |
8,78 |
|
Working capital |
851.000 |
3.134.000 |
1.740.000 |
2.695.000 |
1.312.000 |
|
Equity |
69.590.000 |
57.177.000 |
54.618.000 |
39.768.000 |
38.649.000 |
|
Mutation equity |
21,71 |
4,69 |
37,34 |
2,90 |
78,35 |
|
Mutation short term liabilities |
33,62 |
-8,93 |
52,53 |
-32,01 |
-18,28 |
|
Return on total assets (ROA) |
5,22 |
7,94 |
17,69 |
4,03 |
-2,73 |
|
Return on equity (ROE) |
5,68 |
8,59 |
19,35 |
4,37 |
-3,08 |
|
Gross profit margin |
21,92 |
20,88 |
18,62 |
12,85 |
6,12 |
|
Net profit margin |
58,19 |
17,64 |
61,73 |
8,38 |
102,09 |
|
Average collection ratio |
2,64 |
3,09 |
3,19 |
3,96 |
1,71 |
|
Average payment ratio |
3,30 |
4,16 |
4,29 |
4,28 |
3,18 |
|
Equity turnover ratio |
0,24 |
0,25 |
0,30 |
0,34 |
0,22 |
|
Total assets turnover ratio |
0,22 |
0,23 |
0,28 |
0,31 |
0,20 |
|
Fixed assets turnover ratio |
0,24 |
0,27 |
0,31 |
0,36 |
0,23 |
|
Inventory conversion ratio |
12,30 |
11,03 |
12,22 |
12,03 |
10,89 |
|
Turnover |
16.530.000 |
14.506.000 |
16.442.000 |
13.358.000 |
8.515.000 |
|
Gross margin |
7.001.000 |
5.919.000 |
6.947.000 |
4.695.000 |
3.360.000 |
|
Operating result |
3.624.000 |
3.029.000 |
3.062.000 |
1.716.000 |
521.000 |
|
Net result after taxes |
9.619.000 |
2.559.000 |
10.150.000 |
1.119.000 |
8.693.000 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
EBIT |
3.624.000 |
3.029.000 |
3.062.000 |
1.716.000 |
521.000 |
Summary
The 2013 financial result structure is a
postive working captial of 851.000 euro, which is in
agreement with 1 % of the total assets of the
company.
The working capital has diminished with
-72.85 % compared to previous year. The ratio, with
respect to the total assets of the company
has however, declined.
The deterioration between 2012 and 2013 has
mainly been caused by an increase of the
current liabilities.
The current ratio of the company in 2013 was
1.14. 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
0.92. A company with a Quick Ratio of less than
1 cannot currently pay back its current
liabilities.
The 2012 financial result structure is a
postive working captial of 3.134.000 euro, which is in
agreement with 5 % of the total assets of the
company.
The working capital has increased with 80.11
% compared to previous year. The ratio, with
respect to the total assets of the company
has however, increased.
The improvement between 2011 and 2012 has
mainly been caused by an increase of the
current assets.
The current ratio of the company in 2012 was
1.67. 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
1.39. 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 Kadant
Johnson Europe B.V.
Nijverheidslaan 2125
1382LG Weesp
Netherlands
Registration number: 320183960000
Balance
sheet
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Intangible fixed assets |
199.000 |
229.000 |
258.000 |
656.000 |
992.000 |
|
Tangible fixed assets |
1.547.000 |
1.573.000 |
1.285.000 |
1.338.000 |
1.266.000 |
|
Financial fixed assets |
66.993.000 |
52.241.000 |
51.335.000 |
35.079.000 |
35.079.000 |
|
Fixed assets |
68.739.000 |
54.043.000 |
52.878.000 |
37.073.000 |
37.337.000 |
|
Total stock |
1.344.000 |
1.315.000 |
1.346.000 |
1.110.000 |
782.000 |
|
Accounts receivable |
813.000 |
720.000 |
719.000 |
773.000 |
412.000 |
|
Other receivables |
4.198.000 |
2.767.000 |
3.115.000 |
2.349.000 |
2.268.000 |
|
Total receivables |
5.011.000 |
3.487.000 |
3.834.000 |
3.122.000 |
2.680.000 |
|
Liquid funds |
764.000 |
3.023.000 |
1.711.000 |
1.840.000 |
2.817.000 |
|
Current assets |
7.119.000 |
7.825.000 |
6.891.000 |
6.072.000 |
6.279.000 |
|
Total assets |
75.858.000 |
61.868.000 |
59.769.000 |
43.145.000 |
43.616.000 |
|
Issued capital |
59.000 |
59.000 |
59.000 |
59.000 |
59.000 |
|
Share premium reserve |
22.268.000 |
19.468.000 |
19.468.000 |
14.768.000 |
14.768.000 |
|
Other reserves |
47.263.000 |
37.650.000 |
35.091.000 |
24.941.000 |
23.822.000 |
|
Total reserves |
69.531.000 |
57.118.000 |
54.559.000 |
39.709.000 |
38.590.000 |
|
Total equity |
69.590.000 |
57.177.000 |
54.618.000 |
39.768.000 |
38.649.000 |
|
Accounts payable |
723.000 |
681.000 |
1.128.000 |
462.000 |
390.000 |
|
Other short term liabilities |
5.545.000 |
4.010.000 |
4.023.000 |
2.915.000 |
4.577.000 |
|
Short term liabilities |
6.268.000 |
4.691.000 |
5.151.000 |
3.377.000 |
4.967.000 |
|
Total short and long term liabilities |
6.268.000 |
4.691.000 |
5.151.000 |
3.377.000 |
4.967.000 |
|
Total liabilities |
75.858.000 |
61.868.000 |
59.769.000 |
43.145.000 |
43.616.000 |
Summary
The total assets of the company increased
with 22.61 % between 2012 and 2013.
The total asset increase is
retrievable in the fixed asset growth of 27.19 %.
The asset growth has mainly been financed by a
debt increase of 33.62 %. The Net Worth,
however, grew with 21.71 %.
In 2013 the assets of the company were 90.62
% composed of fixed assets and 9.38 % by
current assets. The assets are being financed
by an equity of 91.74 %, and total debt of 8.26 %.
The total assets of the company increased
with 3.51 % between 2011 and 2012.
The fixed asset growth of 2.2 % is lower than
the total asset growth.
The assets growth has been financed by a Net
Worth increase of 4.69 %. The company's net
increase has also covered a reduction of
-8.93 % of the company's indebtedness.
In 2012 the assets of the company were 87.35
% composed of fixed assets and 12.65 % by
current assets. The assets are being financed
by an equity of 92.42 %, and total debt of 7.58 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
16.530.000 |
14.506.000 |
16.442.000 |
13.358.000 |
8.515.000 |
|
Net turnover |
16.530.000 |
14.506.000 |
16.442.000 |
13.358.000 |
8.515.000 |
|
Gross margin |
7.001.000 |
5.919.000 |
6.947.000 |
4.695.000 |
3.360.000 |
|
Sales |
3.377.000 |
2.890.000 |
3.885.000 |
2.979.000 |
2.839.000 |
|
Operating expenses |
12.906.000 |
11.477.000 |
13.380.000 |
11.642.000 |
7.994.000 |
|
Result in subsidiaries |
|
1.600.000 |
7.479.000 |
|
|
|
Operating result |
3.624.000 |
3.029.000 |
3.062.000 |
1.716.000 |
521.000 |
|
Financial income |
343.000 |
291.000 |
30.000 |
22.000 |
76.000 |
|
Financial expenses |
11.000 |
8.000 |
|
|
1.787.000 |
|
Financial result |
332.000 |
283.000 |
30.000 |
22.000 |
-1.711.000 |
|
Result on ordinary operations before taxes |
3.956.000 |
4.912.000 |
10.571.000 |
1.738.000 |
-1.190.000 |
|
Taxation on the result of ordinary activities |
1.068.000 |
871.000 |
421.000 |
627.000 |
-71.000 |
|
Result of ordinary activities after taxes |
2.888.000 |
4.041.000 |
10.150.000 |
1.111.000 |
-1.119.000 |
|
Extraordinary expense |
|
1.482.000 |
|
|
|
|
Extraordinary result after taxation |
|
-1.482.000 |
|
|
|
|
Result subsidiaries after taxes |
-444.000 |
|
|
8.000 |
9.812.000 |
|
Net result |
9.619.000 |
2.559.000 |
10.150.000 |
1.119.000 |
8.693.000 |
Summary
The turnover of the company grew with 13.95 %
between 2012 and 2013.
The gross profit of the company grew with
18.28 % between 2012 and 2013.
The operating result of the company grew with
19.64 % 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 -34.26
% 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 -4.35 to a
level of 0.22.
The Net Result of the company decreased by
275.89 % 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 -33.88 % of the analysed period, being
5.68 % in the year 2013.
The company's financial profitability has
been positively affected by its financial structure.
The turnover of the company decreased by
-11.77 % between 2011 and 2012.
The gross profit of the company decreased by
-14.8 % between 2011 and 2012.
The operating result of the company declined
with -1.08 % 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 -55.12
% of the analysed period, being equal to 2011
% in the year 2012.
This fall has contributed to a asset turnover
decrease, whose index evolved from -17.86 to a
level of 0.23.
The Net Result of the company increased by
-74.79 % 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
-55.61 % of the analysed period, being 8.59 %
in the year 2012.
The company's financial profitability has been positively affected by
its financial structure.
Analysis
Branch
(SBI) Manufacture of machinery
and equipment n.e.c. (28)
Region
't Gooi en omstreken
In the Netherlands 4630 of the companies are
registered with the SBI code 28
In the region 't Gooi en omstreken 75 of the
companies are registered with the SBI code 28
In the Netherlands 136 of the bankrupcties
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 't Gooi en omstreken is
normal
Publications
Filings 25-08-2014: De jaarrekening over 2013 is
gepubliceerd.
09-09-2013: De jaarrekening over 2012 is
gepubliceerd.
26-07-2012: De jaarrekening over 2011 is gepubliceerd
Company
structure
Relations
3
Kadant
Luxembourg S.à.r.l.
5,
Rue Guillaume Kroll
L-1882
Luxemburg
Luxembourg
•
Kadant Johnson Europe B.V.
Nijverheidslaan
2125
1382LG
Weesp
Netherlands
Registration
number: 320183960000
•
Kadant Johnson France B.V.
Nijverheidslaan
23
1382LG
WEESP
Netherlands
Registration
number: 320650980000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.