MIRA INFORM REPORT
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Report No. : |
353547 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE FINE CHEMICALS HOLLAND B.V. |
|
|
|
|
Registered Office : |
Daltonstraat 45 3335LR Zwijndrecht |
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|
|
|
Country : |
Netherlands |
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|
|
|
Financials (as on) : |
31.12.2014 |
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|
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Date of Incorporation : |
01.011991 |
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|
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Com. Reg. No.: |
KvK-nummer: 18128318 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of basic and industrial chemicals. |
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No. of Employee : |
8 |
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 |
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|
|
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Payment Behaviour : |
No complaints |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 "Globe
Fine Chemicals Holland B.V."
Operative
address Daltonstraat 45
3335LR Zwijndrecht
Netherlands
Legal
form Private Limited Company
Registration
number KvK-nummer: 18128318
VAT-number
009783416
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
16.957 |
-16,04 |
20.197 |
-33,39 |
30.319 |
|
Total receivables |
4.648.998 |
61,89 |
2.871.679 |
-34,68 |
4.396.579 |
|
Total equity |
2.298.390 |
419,97 |
442.025 |
-41,28 |
752.740 |
|
Short term liabilities |
3.424.238 |
-1,79 |
3.486.484 |
-42,59 |
6.072.646 |
|
Net result |
1.856.365 |
697,45 |
-310.715 |
-468,85 |
84.239 |
|
Working capital |
2.281.433 |
440,84 |
421.828 |
-41,61 |
722.421 |
|
Quick ratio |
1,37 |
67,07 |
0,82 |
13,89 |
0,72 |
Contact
information
|
Company name |
"Globe Fine Chemicals Holland B.V." |
|
Trade names |
"Globe Fine Chemicals Holland B.V." |
|
|
|
|
Operative address |
Daltonstraat 45 |
|
|
3335LR Zwijndrecht |
|
|
Netherlands |
|
|
|
|
Correspondence address |
Daltonstraat 45 |
|
|
3335LR Zwijndrecht |
|
|
Netherlands |
|
|
|
|
Telephone number |
0786231800 |
|
Fax number |
0786290330 |
|
|
|
|
Email address |
|
|
Website |
Registration
|
Registration number |
KvK-nummer: 18128318 |
|
Branch number |
000016329759 |
|
VAT-number |
009783416 |
|
Status |
Active |
|
|
|
|
First registration company register |
1991-10-18 |
|
Memorandum |
1991-10-10 |
|
Establishment date |
1991-01-01 |
|
|
|
|
Legal form |
Private Limited Company |
|
Legal person since |
1991-10-10 |
|
|
|
|
Last proposed admendment |
1999-12-10 |
|
Issued placed capital |
EUR 18.151 |
|
Paid up share capital |
EUR 18.151 |
Activities
|
SBI |
46751: Wholesale of basic and industrial chemicals |
|
|
|
|
Exporter |
Yes |
|
Importer |
Yes |
|
|
|
|
Goal |
De im- en export van- en de transito- en commissiehandel in
industriële, fijne en lichte chemicaliën |
Relations
Shareholders
Holding Applausi
B.V.
Daltonstraat 45
3335LR ZWIJNDRECHT
Netherlands
Registration number: 18073598
Percentage: 100%
Companies
on same address Holding Applausi B.V.
Registration number: 18073598
Management
Active
management Holding
Applausi B.V.
Daltonstraat 45
3335LR ZWIJNDRECHT
Netherlands
Registration number: 18073598
Competence: Fully authorized
Function: Manager
Starting date: 2007-05-14
F. van Eeden Frànk
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2007-05-31
Date of birth: 1968-07-17, Rotterdam, NL
M. Krijgsman Martijn
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2007-05-31
Date of birth: 1977-06-15, Rotterdam, NL
Employees
|
Total according to the Chamber of Commerce |
8 |
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
8 |
3 |
4 |
5 |
4 |
Key
figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
1,37 |
0,82 |
0,72 |
0,77 |
1,00 |
|
Current ratio |
1,67 |
1,12 |
1,12 |
1,12 |
1,46 |
|
Working capital/ balance
total |
0,40 |
0,11 |
0,11 |
0,11 |
0,31 |
|
Equity / balance
total |
0,40 |
0,11 |
0,11 |
0,12 |
0,25 |
|
Equity / Fixed
assets |
135,54 |
21,89 |
24,83 |
14,34 |
23,47 |
|
Equity / liabilities |
0,67 |
0,13 |
0,12 |
0,13 |
0,33 |
|
Balance total /
liabilities |
1,67 |
1,13 |
1,12 |
1,13 |
1,33 |
|
Working capital |
2.281.433 |
421.828 |
722.421 |
621.871 |
1.363.746 |
|
Equity |
2.298.390 |
442.025 |
752.740 |
668.501 |
1.090.206 |
|
Mutation equity |
419,97 |
-41,28 |
12,60 |
-38,68 |
26,93 |
|
Mutation short term
liabilities |
-1,79 |
-42,59 |
21,35 |
69,19 |
-0,62 |
|
Return on total
assets (ROA) |
41,56 |
-9,86 |
1,66 |
|
|
|
Return on equity
(ROE) |
103,47 |
-87,62 |
15,01 |
|
|
|
Gross margin |
3.479.272 |
860.639 |
1.514.165 |
|
|
|
Operating result |
2.422.223 |
-319.354 |
194.356 |
|
|
|
Net result after
taxes |
1.856.365 |
-310.715 |
84.239 |
|
|
|
Cashflow |
1.865.332 |
-298.905 |
102.354 |
|
|
|
EBIT |
2.422.223 |
-319.354 |
194.356 |
|
|
|
EBITDA |
2.431.190 |
-307.544 |
212.471 |
|
|
Summary
The 2014 financial result structure is a
postive working captial of 2.281.433 euro, which is in
agreement with 40 % of the total assets of
the company.
The working capital has increased with 440.84
% 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 1.67.
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
1.37. 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 421.828 euro, which is in
agreement with 11 % of the total assets of
the company.
The working capital has diminished with
-41.61 % compared to previous year. The ratio with
respect to the total assets of the company
remains unchanged.
The deterioration between 2012 and 2013 has
mainly been caused by a reduction of the
current assets.
The current ratio of the company in 2013 was
1.12. 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
0.82. 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 "Globe
Fine Chemicals Holland B.V."
Daltonstraat 45
3335LR Zwijndrecht
Netherlands
Registration number: 18128318
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 |
|
Tangible fixed assets |
16.957 |
20.197 |
30.319 |
46.630 |
46.460 |
|
Fixed assets |
16.957 |
20.197 |
30.319 |
46.630 |
46.460 |
|
Total stock |
1.000.577 |
1.035.670 |
2.397.656 |
1.764.475 |
1.355.642 |
|
Total receivables |
4.648.998 |
2.871.679 |
4.396.579 |
3.860.914 |
2.964.926 |
|
Liquid funds |
56.096 |
963 |
832 |
565 |
853 |
|
Current assets |
5.705.671 |
3.908.312 |
6.795.067 |
5.625.954 |
4.321.421 |
|
Total assets |
5.722.628 |
3.928.509 |
6.825.386 |
5.672.584 |
4.367.881 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Other reserves |
2.280.239 |
423.874 |
734.589 |
650.350 |
1.072.055 |
|
Total reserves |
2.280.239 |
423.874 |
734.589 |
650.350 |
1.072.055 |
|
Total equity |
2.298.390 |
442.025 |
752.740 |
668.501 |
1.090.206 |
|
Long term interest
yielding debt |
|
|
|
|
320.000 |
|
Long term liabilities |
|
|
|
|
320.000 |
|
Short term liabilities |
3.424.238 |
3.486.484 |
6.072.646 |
5.004.083 |
2.957.675 |
|
Total short and
long term liabilities |
3.424.238 |
3.486.484 |
6.072.646 |
5.004.083 |
3.277.675 |
|
Total liabilities |
5.722.628 |
3.928.509 |
6.825.386 |
5.672.584 |
4.367.881 |
Summary
The total assets of the company increased
with 45.67 % between 2013 and 2014.
Despite the assets growth, the non current
assets decreased with -16.04 %.
The assets growth has been financed by a Net
Worth increase of 419.97 %. The company's
net increase has also covered a reduction of
-1.79 % of the company's indebtedness.
In 2014 the assets of the company were 0.3 %
composed of fixed assets and 99.7 % by
current assets. The assets are being financed
by an equity of 40.16 %, and total debt of
59.84 %.
The total assets of the company decreased
with -42.44 % between 2012 and 2013.
This total assets decrease has been reflected
in a reduction of non current assets of -33.39
%.
Assets reduction is explained by a Net Worth
decrease of -41.28 %, and an indebtedness
reduction of -42.59 %.
In 2013 the assets of the company were 0.51 %
composed of fixed assets and 99.49 % by
current assets. The assets are being financed
by an equity of 11.25 %, and total debt of
88.75 %.
Profit
and loss
|
Year |
2014 |
2013 |
2012 |
|
Gross margin |
3.479.272 |
860.639 |
1.514.165 |
|
Wages and salaries |
163.104 |
342.473 |
301.780 |
|
Amorization and depreciation |
8.967 |
11.810 |
18.115 |
|
other operating costs |
884.978 |
825.710 |
999.914 |
|
Operating expenses |
1.057.049 |
1.179.993 |
1.319.809 |
|
Operating result |
2.422.223 |
-319.354 |
194.356 |
|
Financial income |
21.757 |
17.845 |
21.342 |
|
Financial expenses |
65.867 |
85.785 |
102.718 |
|
Financial result |
-44.110 |
-67.940 |
-81.376 |
|
Result on ordinary
operations before taxes |
2.378.113 |
-387.294 |
112.980 |
|
Taxation on the
result of ordinary
activities |
521.748 |
-76.579 |
21.501 |
|
Result of ordinary
activities after taxes |
1.856.365 |
-310.715 |
91.479 |
|
Extraordinary expense |
|
|
7.240 |
|
Extraordinary result after
taxation |
|
|
-7.240 |
|
Net result |
1.856.365 |
-310.715 |
84.239 |
Summary
The gross profit of the company grew with
304.27 % between 2013 and 2014.
The operating result of the company grew with
858.48 % 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 521.5
% of the analysed period, being equal to
41.56 in the year 2014.
The Net Result of the company increased by
697.45 % 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 218.09 % of the analysed period, being
103.47 in the year 2014.
The company's financial structure has slowed
down its financial profitability.
The gross profit of the company decreased by
-43.16 % between 2012 and 2013.
The operating result of the company declined
with -264.31 % 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 -693.98
% of the analysed period, being equal to
-9.86 in the year 2013.
The Net Result of the company decreased by
-468.85 % 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 -683.74 % of the analysed period, being
-87.62 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) (SBI code 46)
Region
Groot Rotterdam
Summary In the Netherlands 109662
of the companies are registered with the SBI code 46
In the region Groot Rotterdam 8969 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 Groot Rotterdam 231 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 Groot Rotterdam is normal
Publications
Deposits
12-08-2015: De jaarrekening
over 2014 is gepubliceerd.
24-07-2014: De jaarrekening over 2013 is gepubliceerd.
27-09-2013: De jaarrekening over 2012 is
gepubliceerd.
25-09-2012: De jaarrekening over 2011 is
gepubliceerd.
12-07-2011: De jaarrekening over 2010 is
gepubliceerd.
Functions
07-12-2012: Per 31-03-2012
is gevolmachtigde Raymundus Johannes Hendricus Maria
Wanders uit functie getreden.
Company
structure
Relations
2
Company
Registration
number
Holding
Applausi B.V. (ZWIJNDRECHT)
18073598
|
- - "Globe Fine Chemicals Holland B.V." (Zwijndrecht) 18128318
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
EUR |
1 |
Rs.73.37 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.