MIRA
INFORM REPORT
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Report No. : |
305429 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KINKEKDER B.V. |
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Registered Office : |
Nijverheidsstraat 2, 6905DL Zevenaar |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.01.1964 |
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Com. Reg. No.: |
09030704 |
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Legal Form : |
Private Company |
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Line of Business : |
· Manufacture of Fabricated Metal Products, Except Machinery and Equipment Manufacture of Tools Wholesale of Machine-Tools |
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No. of Employees : |
115 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
Netherlands is the
sixth-largest economy in the euro-zone and is noted for its stable industrial
relations, moderate unemployment and inflation, sizable trade surplus, and
important role as a European transportation hub. Industrial activity is
predominantly in 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 the food-processing industry and for
exports. Netherlands, along with 11 of its EU partners, began circulating the
euro currency on 1 January 2002. The Dutch financial sector suffered as a
result of the global financial crisis, due in part to the high exposure of some
Dutch banks to US mortgage-backed securities. In 2008, the government
nationalized two banks and injected billions of dollars of capital into other
financial institutions, to prevent further deterioration of a crucial sector.
After 26 years of uninterrupted economic growth, the Dutch economy - highly
dependent on an international financial sector and international trade -
contracted by 3.5% in 2009. To recover, the government sought to boost the
domestic economy by accelerating infrastructure programs, offering corporate
tax breaks for employers to retain workers, and expanding export credit
facilities. 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 began
implementing austerity measures in early 2011, mainly reducting expenditures,
which resulted in an improved budget deficit in 2011. However, in 2012 tax
revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013,
the government budget deficit decreased to 3.3% of GDP due to increased
government revenue from higher taxes. However, spending on social benefits also
increased, due to a rise in unemployment benefits and payments for pensions. The
high unemployment rate and tax increases have contributed to continued
decreases in household disposable income, causing the Dutch economy to
contract.
|
Source
: CIA |
Company Summary
|
Company Name |
Kinkelder B.V. |
|
Operative Address |
Nijverheidsstraat 2 6905DL Zevenaar Netherlands |
|
Legal Form |
Private Company |
|
Registration Number |
KVK-nummer: 09030704 |
|
VAT-number |
001301007 |
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
5.080.439 |
57,11 |
3.233.682 |
-35,34 |
5.000.688 |
|
Total receivables |
7.321.439 |
9,69 |
6.674.712 |
-13,57 |
7.722.911 |
|
Total equity |
7.638.097 |
-11,65 |
8.645.449 |
3,68 |
8.338.239 |
|
Short term liabilities |
7.373.467 |
127,96 |
3.234.520 |
-46,66 |
6.063.399 |
|
Net result |
2.492.648 |
37,93 |
1.807.210 |
-46,79 |
3.396.464 |
|
Working capital |
3.893.653 |
-42,31 |
6.749.097 |
29,22 |
5.223.121 |
|
Quick ratio |
0,99 |
-52,17 |
2,07 |
62,99 |
1,27 |
Contact
information
Company name Kinkelder B.V.
Trade names Kinkelder B.V.
Operative address Nijverheidsstraat
2
6905DL Zevenaar
Netherlands
Correspondence address Postbus 242
6900AE Zevenaar
Netherlands
Telephone number 0316582200
Fax number 0316582217
Email address info@kinkelder.nl
Website www.kinkelder.nl
Registration
Registration number KvK-nummer:
09030704
Branch number 000019051840
VAT-number 001301007
Status Active
Memorandum 1964-01-09
Establishment date 1964-01-09
Legal form Private Company
Last proposed admendment 1994-09-22
Issued placed capital EUR 11.345
Paid up share capital EUR 11.345
Activities
SBI Manufacture of fabricated
metal products, except machinery and equipment (25)
Manufacture of tools (2573)
Wholesale of machine-tools (4662)
Exporter Yes
Importer Yes
Branche organisations BMD Advies
Rijndelta
Goal Fabrikage van en
handel in machines en gereedschappen (met name
metaalcirkelzagen), ontwerp en constructie van installaties
Relations
Shareholders De
Kinkelder Beheer B.V.
Nijverheidsstraat 2
6905DL Zevenaar
Netherlands
Registration
number: 090583240000
Percentage: 100%
Companies on same address Amount: 14
Management
Active management W.A.
Hissink (Wilhelmus Antonius)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2014-04-01
Date of birth: 1963-07-05, Deventer, NL
J.H.M. Ponjée (Jacobus Hermanus Maria)
Netherlands
Competence: Fully authorized
Function: Financieel Manager
Starting date: 1999-03-08
Date of birth: 1958-10-24, Bergen (L), NL
R. Jordense (Robertus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2000-10-12
Date of birth: 1970-11-12, Zevenaar, NL
A.J.A.B. Huisman - Branderhorst (Angelique
Johanna Antonia Bern)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2000-10-12
Date of birth: 1969-02-14, Wehl, NL
R. Teunissen (Rink)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2005-07-01
Date of birth: 1975-03-06, Zevenaar, NL
Employees
Total according to the Chamber of Commerce 115
Year 2015
2014 2013 2012 2011
Total 115
122 115 122 83
Payments
Description Overeenkomstig
conditie
Key figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
0,99 |
2,07 |
1,27 |
1,87 |
1,20 |
|
Current ratio |
1,53 |
3,09 |
1,86 |
2,70 |
2,11 |
|
|
|||||
|
Working capital/ balance total |
0,24 |
0,51 |
0,32 |
0,51 |
0,39 |
|
Equity / balance total |
0,47 |
0,65 |
0,51 |
0,66 |
0,58 |
|
Equity / Fixed assets |
1,50 |
2,67 |
1,67 |
3,45 |
2,32 |
|
Equity / liabilities |
0,88 |
1,89 |
1,05 |
1,95 |
1,39 |
|
Balance total / liabilities |
1,88 |
2,89 |
2,05 |
2,95 |
2,39 |
|
|
|||||
|
Working capital |
3.893.653 |
6.749.097 |
5.223.121 |
6.114.725 |
3.814.001 |
|
Equity |
7.638.097 |
8.645.449 |
8.338.239 |
7.941.775 |
5.630.409 |
|
Mutation equity |
-11,65 |
3,68 |
4,99 |
41,05 |
-26,39 |
|
Mutation short term liabilities |
127,96 |
-46,66 |
68,28 |
4,90 |
-34,57 |
|
|
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Return on total assets (ROA) |
15,21 |
13,48 |
20,71 |
19,18 |
-21,23 |
|
Return on equity (ROE) |
32,55 |
20,61 |
40,46 |
29,04 |
-36,47 |
|
Gross margin |
15.736.864 |
13.860.301 |
14.903.518 |
12.014.132 |
6.451.973 |
|
Operating result |
2.711.513 |
1.768.066 |
3.318.116 |
2.227.676 |
-1.936.871 |
|
Net result after taxes |
2.492.648 |
1.807.210 |
3.396.464 |
2.311.366 |
-2.018.296 |
|
|
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Cashflow |
3.553.298 |
3.079.700 |
4.547.791 |
3.176.966 |
-975.562 |
|
EBIT |
2.711.513 |
1.768.066 |
3.318.116 |
2.227.676 |
-1.936.871 |
|
EBITDA |
3.772.163 |
3.040.556 |
4.469.443 |
3.093.276 |
-894.137 |
|
|
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|
Summary |
The 2013 financial result
structure is a postive working captial of 3.893.653 euro, which is in
agreement with 24 % of the total assets of the company. The
working capital has diminished with -42.31 % 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 1.53. 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 0.99. 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 6.749.097 euro,
which is in agreement with 51 % of the total assets of the company. The working
capital has increased with 29.22 % 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 3.09. If the current ratio exeeds 3.0, the
company may not be using its current assets or its short-term financing
facilities efficiently The quick ratio
in 2012 of the company was 2.07. A company with a Quick Ratio of more than 1
can currently pay back its current liabilities. |
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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 Kinkelder B.V.
Nijverheidsstraat 2
6905DL Zevenaar
Netherlands
Registration
number: 090307040000
Balance
|
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 |
181.279 |
127.436 |
1.795 |
29.361 |
63.534 |
|
Tangible
fixed assets |
4.897.779 |
3.104.833 |
4.053.356 |
1.930.485 |
2.031.983 |
|
Financial
fixed assets |
1.381 |
1.413 |
945.537 |
344.710 |
328.962 |
|
Fixed Assets |
5.080.439 |
3.233.682 |
5.000.688 |
2.304.556 |
2.424.479 |
|
Total Stock |
3.942.884 |
3.303.682 |
3.556.908 |
2.982.179 |
3.131.546 |
|
Total
receivables |
7.321.439 |
6.674.712 |
7.722.911 |
6.642.501 |
4.110.702 |
|
Liquid funds |
2.797 |
5.223 |
6.701 |
93.224 |
6.682 |
|
Current
assets |
11.267.120 |
9.983.617 |
11.286.520 |
9.717.904 |
7.248.930 |
|
Total Assets |
16.347.559 |
13.217.299 |
16.287.208 |
12.022.460 |
9.673.409 |
|
Issued
capital |
11.345 |
11.345 |
11.345 |
11.345 |
11.345 |
|
Legal and statutory reserve |
|
6.655 |
6.655 |
6.655 |
6.655 |
|
Other reserves |
7.626.752 |
8.627.449 |
8.320.239 |
7.923.775 |
5.612.409 |
|
Total
reserves |
7.626.752 |
8.634.104 |
8.326.894 |
7.930.430 |
5.619.064 |
|
Total
equity |
7.638.097 |
8.645.449 |
8.338.239 |
7.941.775 |
5.630.409 |
|
|
|||||
|
Provisions |
91.844 |
93.179 |
81.171 |
137.325 |
122.865 |
|
Long term interest yielding debt |
1.244.151 |
1.244.151 |
1.804.399 |
340.181 |
485.206 |
|
Long
term liabilities |
1.244.151 |
1.244.151 |
1.804.399 |
340.181 |
485.206 |
|
Short
term liabilities |
7.373.467 |
3.234.520 |
6.063.399 |
3.603.179 |
3.434.929 |
|
Total
short and long term liabilities |
8.709.462 |
4.571.850 |
7.948.969 |
4.080.685 |
4.043.000 |
|
Total
liabilities |
16.347.559 |
13.217.299 |
16.287.208 |
12.022.460 |
9.673.409 |
Summary The total assets of
the company increased with 23.68 % between 2012 and 2013.
The total asset
increase is retrievable in the fixed asset growth of 57.11 %.
Asset growth is in contrasts with the net worth
decline of -11.65 %. The company's indebtedness has, therefore, increased with
90.5 %.
In 2013 the assets of the company were 31.08
% composed of fixed assets and 68.92 % by current assets. The assets are being
financed by an equity of 46.72 %, and total debt of 53.28 %.
The total assets of the company decreased
with -18.85 % between 2011 and 2012.
This downturn is mainly retrievable in the
fixed asset decrease of -35.34 %.
The asset reduction is in contrast with the
equity growth of 3.68 %. Due to this the total debt decreased with -42.48 %.
In 2012 the assets of the company were 24.47
% composed of fixed assets and 75.53 % by current assets. The assets are being
financed by an equity of 65.41 %, and total debt of 34.59 %.
Profit and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Gross
margin |
15.736.864 |
13.860.301 |
14.903.518 |
12.014.132 |
6.451.973 |
|
|
|||||
|
Wages and salaries |
6.285.432 |
5.754.541 |
5.570.123 |
5.048.771 |
4.342.631 |
|
Amorization and depreciation |
1.060.650 |
1.272.490 |
1.151.327 |
865.600 |
1.042.734 |
|
other operating costs |
5.679.269 |
5.065.204 |
4.863.952 |
3.872.085 |
3.003.479 |
|
Operating expenses |
13.025.351 |
12.092.235 |
11.585.402 |
9.786.456 |
8.388.844 |
|
Result in subsidiaries |
-32 |
142 |
215 |
12 |
-726 |
|
Operating
result |
2.711.513 |
1.768.066 |
3.318.116 |
2.227.676 |
-1.936.871 |
|
|
|||||
|
Financial income |
695 |
130.747 |
175.096 |
122.226 |
40.739 |
|
Financial expenses |
225.902 |
116.848 |
120.003 |
43.445 |
156.554 |
|
Financial result |
-225.207 |
13.899 |
55.093 |
78.781 |
-115.815 |
|
Result
on ordinary operations before taxes |
2.486.274 |
1.782.107 |
3.373.424 |
2.306.469 |
-2.053.412 |
|
|
|||||
|
Result
of ordinary activities after taxes |
2.486.274 |
1.782.107 |
3.373.424 |
2.306.469 |
-2.053.412 |
|
|
|||||
|
Extraordinary income |
6.374 |
25.103 |
23.040 |
4.897 |
35.116 |
|
Extraordinary result after taxation |
6.374 |
25.103 |
23.040 |
4.897 |
35.116 |
|
Net
result |
2.492.648 |
1.807.210 |
3.396.464 |
2.311.366 |
-2.018.296 |
Summary The gross profit
of the company grew with 13.54 % between 2012 and 2013.
The operating result of the company grew
with 53.36 % 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 12.83 % of the analysed period,
being equal to 2012 % in the year 2013.
The Net Result of the company decreased by
37.93 % 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 57.93
% of the analysed period, being 32.55 % in the year 2013.
The company's financial structure has slowed
down its financial profitability.
The gross profit of the company decreased by
-7 % between 2011 and 2012.
The operating result of the company declined
with -46.71 % 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 -34.91 % of the analysed period,
being equal to 2011 % in the year 2012.
The Net Result of the company increased by
-46.79 % 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 -49.06
% of the analysed period, being 20.61 % in the year 2012.
The company's financial profitability has
been positively affected by its financial structure.
Analysis
Branch (SBI) Manufacture of
fabricated metal products, except machinery and equipment (25)
Region Arnhem
In the Netherlands 12215 of the companies
are registered with the SBI code 25
In the region Arnhem 214 of the companies
are registered with the SBI code 25
In the Netherlands 347 of the bankrupcties
are published within this sector
In the region Arnhem 10 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 Arnhem is normal
Publications
Filings 12-09-2014: De
jaarrekening over 2013 is gepubliceerd.
18-06-2013: De jaarrekening over 2012 is
gepubliceerd.
16-11-2012: De jaarrekening over 2011 is
gepubliceerd.
10-11-2011: De jaarrekening over 2010 is
gepubliceerd.
08-09-2010: De jaarrekening over 2009 is
gepubliceerd.
Functions 05-01-2015: Per
01-01-2015 is bestuurder 09057636 J.T.W. de Kinkelder B.V. uit functie getreden.
04-04-2014: Per 01-04-2014 is bestuurder
Wilhelmus Antonius Hissink in functie getreden.
04-04-2014: Per 01-04-2014 is gevolmachtigde
Wilhelmus Antonius Hissink uit functie getreden.
Company structure
Relations 4
Stichting Administratiekantoor Aandelen De Kinkelder Beheer en Kinkelder
Holding
Nijverheidsstraat 2
6905DL ZEVENAAR
Netherlands
Registration number: 410485940000
• De Kinkelder Beheer B.V.
Nijverheidsstraat 2
6905DL Zevenaar
Netherlands
Registration number: 090583240000
• Kinkelder B.V.
Nijverheidsstraat 2
6905DL Zevenaar
Netherlands
Registration number: 090307040000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.