MIRA INFORM REPORT

 

 

Report No. :

329822

Report Date :

09.07.2015

 

IDENTIFICATION DETAILS

 

Name :

STAFA TRADING B.V.

 

 

Registered Office :

Den Engelsman 18, 6026RB MAARHEEZE

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.03.1977

 

 

Com. Reg. No.:

17075593

 

 

Legal Form :

Private company with regular structure

 

 

Line of Business :

Wholesale of hardware (ironware and metal products)

 

 

No. of Employees :

36 (2015)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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 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

company summary

 

Company name                                    STAFA TRADING B.V.

Operative address                                Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Legal form                                           Private company with regular structure

Registration number                            KvK-nummer: 17075593

VAT-number                                         800966041

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

227.938

3,69

219.816

-27,43

302.896

Total receivables

1.718.610

17,46

1.463.093

-9,66

1.619.533

Total equity

388.786

-56,43

892.230

-31,52

1.302.860

Short term liabilities

6.611.981

17,19

5.641.970

-15,98

6.715.134

Net result

-3.444

-100,58

589.370

-34,63

901.643

Working capital

984.708

-42,45

1.711.194

58,47

1.079.852

Quick ratio

0,28

7,69

0,26

8,33

0,24

 

 

 

Contact information

 

Company name                                    Stafa Trading B.V.

Trade names                                        Stafa Trading B.V.

Operative address                                Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Correspondence address                     Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Telephone number                               0495-599888

Fax number                                          0495599876

Email address                                      info@stafa.nl

Website                                                www.stafa.nl

 

 

Registration

 

Registration number                            KvK-nummer: 17075593

Branch number                                    000017959152

VAT-number                                         800966041

Status                                                  Active

First registration company register      1992-05-22

Memorandum                                       1992-05-22       

Establishment date                              1977-03-11

Legal form                                           Private company with regular structure

Legal person since                               1992-05-22

Last proposed admendment                 2012-02-28

Issued placed capital                           EUR 20.720

Paid up share capital                           EUR 20.720

 

 

Activities

 

SBI                                                       Wholesale of hardware (ironware and metal products) (46741)

Exporter                                               Yes

Importer                                               Yes

Goal                                                     Het importeren, exporteren, de groothandel in, en het hebben van agenturen in alle voorkomende bevestigingsmaterialen en gereedschappen, alsmede de groothandel in werkhandschoenen

 

 

Relations

 

Shareholders                                       JIG Holding B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 171910170000

Percentage: 100%

Companies on same address

Stafa Direct B.V.

Registration number: 171451610000

JIG Holding B.V.

Registration number: 171910170000

 

 

 

Management

 

Active management                              JIG Holding B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 171910170000

Competence: Fully authorized

Function: Manager

Starting date: 2006-09-29

 

 

Employees

 

Total according to the Chamber of Commerce

36

 

 

 

 

 

Year

 

2015

2014

2013

2012

2011

Total

 

36

36

37

40

40

 

 

 

 

Key figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

0,28

0,26

0,24

0,32

0,21

Current ratio

1,15

1,30

1,16

1,21

1,03

Working capital/ balance total

0,13

0,23

0,13

0,16

0,03

 

 

Year

2013

2012

2011

2010

2009

Equity / balance total

0,05

0,12

0,16

0,20

0,07

Equity / Fixed assets

1,71

4,06

4,30

3,26

0,86

Equity / liabilities

0,05

0,13

0,19

0,26

0,07

Balance total / liabilities

1,05

1,13

1,19

1,26

1,07

 

Working capital

984.708

1.711.194

1.079.852

1.131.048

182.870

Equity

388.786

892.230

1.302.860

1.401.217

415.260

Mutation equity

-56,43

-31,52

-7,02

237,43

-52,85

Mutation short term liabilities

17,19

-15,98

26,56

-5,09

-17,41

 

Return on total assets (ROA)

7,79

10,25

14,71

19,02

3,70

Return on equity (ROE)

156,73

86,98

91,41

93,18

55,68

Gross margin

3.957.377

3.922.602

4.000.589

3.966.030

3.122.765

Operating result

755.185

926.119

1.344.944

1.460.450

385.618

Net result after taxes

-3.444

589.370

901.643

985.957

184.616

 

Cashflow

107.348

717.695

1.045.282

1.174.849

387.601

EBIT

755.185

926.119

1.344.944

1.460.450

385.618

EBITDA

865.977

1.054.444

1.488.583

1.649.342

588.603

 

 

Summary The 2013 financial result structure is a postive working captial of 984.708 euro, which is in agreement with 13 % of the total assets of the company.

The working capital has diminished with -42.45 % 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 1.15. 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 0.28. 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 1.711.194 euro, which is in agreement with 23 % of the total assets of the company.

The working capital has increased with 58.47 % 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 1.3. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2012 of the company was 0.26. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Last annual account                             2013

Remark annual account                        There is no financial data published

Type of annual account                        Corporate

Annual account                                    Stafa Trading B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 170755930000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

227.938

219.816

302.896

429.547

481.201

Fixed assets

227.938

219.816

302.896

429.547

481.201

Total stock

5.769.303

5.888.333

6.160.783

4.719.615

4.621.655

Total receivables

1.718.610

1.463.093

1.619.533

1.715.266

1.150.613

Liquid funds

108.776

1.738

14.670

1.950

949

Current assets

7.596.689

7.353.164

7.794.986

6.436.831

5.773.217

Total assets

7.824.627

7.572.980

8.097.882

6.866.378

6.254.418

 

 

 

 

 

 

Issued capital

18.805

18.805

18.805

18.805

18.805

Other reserves

369.981

873.425

1.284.055

1.382.412

396.455

Total reserves

369.981

873.425

1.284.055

1.382.412

396.455

Total equity

388.786

892.230

1.302.860

1.401.217

415.260

 

 

 

 

 

 

Long term interest yielding debt

823.860

1.038.780

79.888

159.378

248.811

Long term liabilities

823.860

1.038.780

79.888

159.378

248.811

Short term liabilities

6.611.981

5.641.970

6.715.134

5.305.783

5.590.347

Total short and long term liabilities

7.435.841

6.680.750

6.795.022

5.465.161

5.839.158

Total liabilities

7.824.627

7.572.980

8.097.882

6.866.378

6.254.418

 

 

Summary The total assets of the company increased with 3.32 % between 2012 and 2013.

The total asset increase is retrievable in the fixed asset growth of 3.69 %.

Asset growth is in contrasts with the net worth decline of -56.43 %. The company's indebtedness has, therefore, increased with 11.3 %.

In 2013 the assets of the company were 2.91 % composed of fixed assets and 97.09 % by current assets. The assets are being financed by an equity of 4.97 %, and total debt of 95.03

%.

The total assets of the company decreased with -6.48 % between 2011 and 2012.

This downturn is mainly retrievable in the fixed asset decrease of -27.43 %.

Assets reduction is explained by a Net Worth decrease of -31.52 %, and an indebtednessreduction of -1.68 %.

In 2012 the assets of the company were 2.9 % composed of fixed assets and 97.1 % by

current assets. The assets are being financed by an equity of 11.78 %, and total debt of 88.22 %.

 

 

 

 

Profit and loss

 

Year

2013

2012

2011

2010

2009

Gross margin

3.957.377

3.922.602

4.000.589

3.966.030

3.122.765

 

Wages and salaries

1.785.213

1.626.271

1.508.336

1.309.557

1.260.247

Amorization and depreciation

110.792

128.325

143.639

188.892

202.985

other operating costs

1.306.187

1.241.887

1.003.670

1.007.131

1.273.915

Operating expenses

3.202.192

2.996.483

2.655.645

2.505.580

2.737.147

Operating result

755.185

926.119

1.344.944

1.460.450

385.618

 

Financial expenses

 

150.027

153.966

154.786

154.394

Financial result

-145.857

-150.027

-153.966

-154.786

-154.394

Result on ordinary operations before taxes

609.328

776.092

1.190.978

1.305.664

231.224

Year

2013

2012

2011

2010

2009

Taxation on the result of ordinary activities

-2.883

186.722

289.852

321.429

46.608

Result of ordinary activities after taxes

612.211

589.370

901.126

984.235

184.616

 

 

 

 

 

 

Extraordinary income

2.956

 

517

1.722

 

Extraordinary expense

618.611

 

 

 

 

Extraordinary result after taxation

-615.655

 

517

1.722

 

Net result

-3.444

589.370

901.643

985.957

184.616

 

 

Summary The gross profit of the company has remained the same between 2012 and 2013.

The operating result of the company declined with -18.46 % 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 -24 % of

the analysed period, being equal to 2012 % in the year 2013.

The Net Result of the company increased by -100.58 % 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

80.19 % of the analysed period, being 156.73 % in the year 2013.

The company's financial structure has slowed down its financial profitability.

The gross profit of the company decreased by -1.95 % between 2011 and 2012.

The operating result of the company declined with -31.14 % 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 -30.32

% of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company increased by -34.63 % 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

-4.85 % of the analysed period, being 86.98 % in the year 2012.

The company's financial profitability has been positively affected by its financial structure.

 

 

 

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                                                             05-01-2015: De jaarrekening over 2013 is gepubliceerd.

17-04-2014: De jaarrekening over 2012 is gepubliceerd.

14-01-2013: De jaarrekening over 2011 is gepubliceerd.

30-03-2012: De jaarrekening over 2010 is gepubliceerd.

19-11-2010: De jaarrekening over 2009 is gepubliceerd.

Amendments                                        02-03-2012: Geplaatst kapitaal gewijzigd in EUR 20.720,00 Gestort kapitaal gewijzigd in EUR

20.720,00.

02-03-2012: Per 28-2-2012 statuten gewijzigd. Per 28-2-2012 naam gewijzigd in: Stafa

Trading B.V..

 

 

Company structure

 

Relations                                              5

 

JIG Holding B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 171910170000

• Stafa Trading B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 170755930000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.51

UK Pound

1

Rs.97.85

Euro

1

Rs.70.50

 

INFORMATION DETAILS

 

Analysis Done by :

RAS 

 

 

Report Prepared by :

VNT

 

               

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%)

 

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