MIRA INFORM REPORT
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Report No. : |
353089 |
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Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MULTI-FIX B.V. |
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|
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Registered Office : |
Bokkerijder 24 5571MX BERGEIJK |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.06.1982 |
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Com. Reg. No.: |
17048453 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of hardware (ironware and metal products) |
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No. of Employee : |
51 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 Multi-Fix
B.V.
Operative address Bokkerijder
24
5571MX BERGEIJK
Netherlands
Legal form Private
Limited Company
Registration number KvK-nummer:
17048453
VAT-number 801735749
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
113.615 |
-28,75 |
159.464 |
-28,00 |
221.489 |
|
|
|
|
|
|
|
|
Total receivables |
7.739.911 |
26,12 |
6.137.180 |
60,46 |
3.824.736 |
|
|
|
|
|
|
|
|
Total equity |
5.849.092 |
38,05 |
4.237.018 |
58,65 |
2.670.716 |
|
|
|
|
|
|
|
|
Short term liabilities |
5.532.155 |
8,93 |
5.078.490 |
20,65 |
4.209.105 |
|
|
|
|
|
|
|
|
Net result |
1.612.073 |
2,92 |
1.566.302 |
590,61 |
226.800 |
|
|
|
|
|
|
|
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Working capital |
5.735.477 |
40,66 |
4.077.554 |
66,48 |
2.449.227 |
|
|
|
|
|
|
|
|
Quick ratio |
1,43 |
11,72 |
1,28 |
40,66 |
0,91 |
Contact
information
Company name Multi-Fix
B.V.
Trade names Multi-Fix
B.V.
Operative address Bokkerijder
24
5571MX BERGEIJK
Netherlands
Correspondence address Postbus
93
5570AB BERGEIJK
Netherlands
Telephone number 0497-552929
Fax number 0497
552955
Email address info@multifix.nl
Website www.multifix.nl
Registration
Registration number KvK-nummer:
17048453
Registered in Kamer
van Koophandel Brabant
Branch number 000020527543
VAT-number 801735749
Status Active
First registration company register 1993-03-29
Memorandum 1993-03-29
Establishment date 1982-06-01
Legal form Private
Limited Company
Legal person since 1993-03-29
Issued placed capital EUR
18.151
Paid up share capital EUR
18.151
Activities
SBI 46741:
Wholesale of hardware (ironware and metal products)
Exporter No
Importer No
Goal Het
uitoefenen van een groothandel in roestvrijstalen bevestigingsmaterialen
Relations
Shareholders Multi-Fix
Group B.V.
Bokkerijder
24
5571MX BERGEIJK
Netherlands
Registration number: 17179136
Percentage: 100%
Companies on same address (number) 14
Bank
details
Accounts Rabobank
Nederland
Account number:
NL77RABO0130620033
BIC: RABONL2U
Management
Active management Multi-Fix
Group B.V.
Bokkerijder 24
5571MX BERGEIJK
Netherlands
Registration number: 17179136
Competence: Fully authorized
Function: Manager
Starting date: 2005-06-23
Employees
Year 2015
2014 2013
2012 2011
Total 51
33 33 32 29
Payments
Description Payments
are made regularly no complaints are known
Key
figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
1,43 |
1,28 |
0,91 |
0,97 |
0,66 |
|
Current ratio |
2,04 |
1,80 |
1,58 |
1,54 |
2,06 |
|
Working capital/ balance
total |
0,50 |
0,44 |
0,36 |
0,33 |
0,49 |
|
Equity / balance
total |
0,51 |
0,45 |
0,39 |
0,37 |
0,54 |
|
Equity / Fixed
assets |
51,48 |
26,57 |
12,06 |
9,38 |
10,60 |
|
Equity / liabilities |
1,06 |
0,83 |
0,63 |
0,60 |
1,17 |
|
Balance total /
liabilities |
2,06 |
1,83 |
1,63 |
1,60 |
2,17 |
|
Working capital |
5.735.477 |
4.077.554 |
2.449.227 |
2.183.508 |
2.201.612 |
|
Equity |
5.849.092 |
4.237.018 |
2.670.716 |
2.443.916 |
2.430.967 |
|
Mutation equity |
38,05 |
58,65 |
9,28 |
0,53 |
-5,49 |
|
Mutation short term
liabilities |
8,93 |
20,65 |
3,26 |
95,78 |
-17,72 |
|
Return on total
assets (ROA) |
16,00 |
19,33 |
4,40 |
3,57 |
|
|
Return on equity
(ROE) |
31,12 |
42,51 |
11,33 |
9,52 |
|
|
Gross margin |
5.264.467 |
5.034.533 |
3.380.639 |
3.473.350 |
|
|
Operating result |
1.900.977 |
1.849.390 |
303.008 |
298.889 |
|
|
Net result after
taxes |
1.612.073 |
1.566.302 |
226.800 |
12.949 |
|
|
Cashflow |
1.666.085 |
1.642.693 |
322.979 |
99.834 |
|
|
EBIT |
1.900.977 |
1.849.390 |
303.008 |
298.889 |
|
|
EBITDA |
1.954.989 |
1.925.781 |
399.187 |
385.774 |
|
Summary
The 2014
financial result structure is a postive working captial of 5.735.477 euro,
which is in
agreement
with 50 % of the total assets of the company. The working capital has increased
with 40.66 % 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 2.04. 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 1.43. A company with a Quick Ratio of
more than 1 can currently pay back its current liabilities. The 2013 financial
result structure is a postive working captial of 4.077.554 euro, which is in
agreement with 44 % of the total assets of the company. The working capital has
increased with 66.48 % 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 1.8. 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 1.28. A company with a Quick Ratio of
more than 1 can currently pay back its current liabilities.
Financial
statement
Last annual account 2014
Remark annual account There
is no financial data published
Type of annual account Corporate
Annual account Multi-Fix
B.V.
Bokkerijder 24
5571MX BERGEIJK
Netherlands
Registration number: 17048453
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 |
|
|
|
815 |
4.038 |
|
Tangible fixed assets |
113.615 |
159.464 |
221.489 |
259.593 |
225.317 |
|
Fixed assets |
113.615 |
159.464 |
221.489 |
260.408 |
229.355 |
|
Total stock |
3.362.325 |
2.671.450 |
2.809.299 |
2.295.547 |
2.904.741 |
|
Total receivables |
7.739.911 |
6.137.180 |
3.824.736 |
2.794.286 |
1.367.770 |
|
Liquid funds |
165.396 |
347.414 |
24.297 |
1.169.913 |
11.130 |
|
Current assets |
11.267.632 |
9.156.044 |
6.658.332 |
6.259.746 |
4.283.641 |
|
Total assets |
11.381.247 |
9.315.508 |
6.879.821 |
6.520.154 |
4.512.996 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Other reserves |
4.218.868 |
2.652.565 |
2.652.565 |
2.412.816 |
2.412.816 |
|
Non-distributable profit |
1.612.073 |
1.566.302 |
|
12.949 |
|
|
Total reserves |
5.830.941 |
4.218.867 |
2.652.565 |
2.425.765 |
2.412.816 |
|
Total equity |
5.849.092 |
4.237.018 |
2.670.716 |
2.443.916 |
2.430.967 |
|
Short term liabilities |
5.532.155 |
5.078.490 |
4.209.105 |
4.076.238 |
2.082.029 |
|
Total short and
long term liabilities |
5.532.155 |
5.078.490 |
4.209.105 |
4.076.238 |
2.082.029 |
|
Total liabilities |
11.381.247 |
9.315.508 |
6.879.821 |
6.520.154 |
4.512.996 |
Summary
The
total assets of the company increased with 22.18 % between 2013 and 2014. Despite
the assets growth, the non current assets decreased with -28.75 %. The asset
growth has mainly been financed by a Net Worth increase of 38.05 %. Debt,
however, grew with 8.93 %. In 2014 the assets of the company were 1 % composed
of fixed assets and 99 % by current assets. The assets are being financed by an
equity of 51.39 %, and total debt of 48.61 %. The total assets of the company
increased with 35.4 % between 2012 and 2013. Despite the assets growth, the non
current assets decreased with -28 %. The asset growth has mainly been financed
by a Net Worth increase of 58.65 %. Debt, however, grew with 20.65 %. In 2013
the assets of the company were 1.71 % composed of fixed assets and 98.29 % by
current assets. The assets are being financed by an equity of 45.48 %, and
total debt of 54.52 %.
Profit
and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
|
Gross margin |
5.264.467 |
5.034.533 |
3.380.639 |
3.473.350 |
|
Wages and salaries |
1.808.980 |
1.728.662 |
1.557.751 |
1.689.954 |
|
Amorization and depreciation |
54.012 |
76.391 |
96.179 |
86.885 |
|
other operating costs |
1.500.498 |
1.380.090 |
1.423.701 |
1.397.622 |
|
Operating expenses |
3.363.490 |
3.185.143 |
3.077.631 |
3.174.461 |
|
Operating result |
1.900.977 |
1.849.390 |
303.008 |
298.889 |
|
Financial income |
78.812 |
64.740 |
11.662 |
29.845 |
|
Financial expenses |
159.274 |
113.091 |
12.094 |
95.973 |
|
Financial result |
-80.462 |
-48.351 |
-432 |
-66.128 |
|
Result on ordinary
operations before taxes |
1.820.515 |
1.801.039 |
302.576 |
232.761 |
|
Taxation on the
result of ordinary
activities |
207.061 |
228.885 |
75.599 |
205.183 |
|
Result of ordinary
activities after taxes |
1.613.454 |
1.572.154 |
226.977 |
27.578 |
|
Extraordinary expense |
1.381 |
5.852 |
177 |
14.629 |
|
Extraordinary result after
taxation |
-1.381 |
-5.852 |
-177 |
-14.629 |
|
Net result |
1.612.073 |
1.566.302 |
226.800 |
12.949 |
Summary
The gross
profit of the company grew with 4.57 % between 2013 and 2014. The operating
result of the company grew with 2.79 % between 2013 and 2014. 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 -17.23%
of the analysed period, being equal to 16 in the year 2014. The Net Result of
the company increased by 2.92 % between 2013 and 2014. 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 -26.79% of the analysed period, being 31.12 in the
year 2014. The company's financial profitability has been positively affected
by its financial structure. The gross profit of the company grew with 48.92 %
between 2012 and 2013. The operating result of the company grew with 510.34 %
between 2012 and 2013. 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 339.32% of the analysed period, being equal
to 19.33 in the year 2013. The Net Result of the company increased by 590.61 %
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 275.2
% of the analysed period, being 42.51 in the year 2013. The company's financial
structure has slowed down its financial profitability.
Analysis
Branch (SBI) Wholesale
trade (no motor vehicles and motorcycles) (SBI code 46)
Region Zuid-Oost-Brabant
Summary 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
Deposits 11-09-2015:
De jaarrekening over 2014 is gepubliceerd.
21-07-2014: De jaarrekening over
2013 is gepubliceerd.
15-10-2013: De jaarrekening over
2012 is gepubliceerd.
15-02-2013: De jaarrekening over
2011 is gepubliceerd.
27-02-2012: De jaarrekening over
2010 is gepubliceerd.
10-02-2011: De jaarrekening over 2009 is gepubliceerd
Company
structure
Relations 5
Company Registration
number
Multi-Fix Group B.V. (BERGEIJK) 17179136
| - - Essit Assemblage B.V. (GELDROP) 17138353
| - - MF Special Products B.V. (BERGEIJK) 17128936
| - - Wind-Fix Europe B.V. (BERGEIJK) 17079017
| - - Multi-Fix
B.V. (BERGEIJK) 17048453
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
|
Euro |
1 |
Rs.70.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
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.