MIRA INFORM REPORT

 

 

Report No. :

325913

Report Date :

06.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SOLLAS HOLLAND B.V.

 

 

Registered Office :

Bruynvisweg 1, 1531AX WORMER

 

 

Country :

Netherlands

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

01.01.1959

 

 

Com. Reg. No.:

35008994

 

 

Legal Form :

Private company with regular structure

 

 

Line of Business :

Subject is manufacture of other general-purpose machinery and equipment

 

 

No. of Employee :

67 (2015)

 

 

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 – 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

Netherlands, the sixth-largest economy in the euro-zone, is noted for its important role as a European transportation hub, sizable trade surplus, stable industrial relations, and moderate unemployment and inflation. 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 export. 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 injected billions of dollars of capital into financial institutions to stem the deterioration. To address the economic downturn, the government also 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 began implementing austerity measures in early 2011 to reduce the budget deficit, and, in 2013, the government brought the budget deficit below the euro-zone limit of 3% of GDP. Though the Dutch economy remains fragile, a gradual improvement in GDP growth in 2014 helped reduce the deficit further through an increase in government tax revenues. Private consumption remains subdued because of high unemployment, low wage growth, and still-high levels of debt, which together with tax increases, have made households reluctant to spend. Private investment and export growth are susceptible to slower activity in the Netherlands’ European trading partners and geopolitical tensions that constrain international trade.

 

Source : CIA

 

 

Summary

 

 

Company name

SOLLAS HOLLAND B.V.

Operative address

Bruynvisweg 1

 

1531AX WORMER

 

Netherlands

 

 

Legal form

Private company with regular structure

Registration number

KvK-nummer: 35008994

VAT-number

004804065

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

3.762.879

-7,24

4.056.366

-1,64

4.123.881

Total receivables

1.931.324

-19,83

2.409.087

20,35

2.001.667

Total equity

5.111.340

5,14

4.861.326

13,37

4.287.884

Short term liabilities

3.460.039

4,50

3.310.908

-7,03

3.561.076

Net result

266.093

-52,85

564.345

34,10

420.825

Working capital

3.411.127

10,43

3.088.913

74,26

1.772.619

Quick ratio

0,72

-17,24

0,87

35,94

0,64

 

 

 

 

Contact information

 

Company name

Sollas Holland B.V.

Trade names

Sollas Holland B.V.

 

 

Operative address

Bruynvisweg 1

 

1531AX WORMER

 

Netherlands

Correspondence address

Postbus 31

 

1520AA WORMERVEER

 

Netherlands

 

 

Telephone number

075-6284751

Fax number

075 6280266

Email address

contact@sollas.com

Website

www.sollas.com

 

 

Registration

 

 

Registration number

KvK-nummer: 35008994

Registered in

Kamer van Koophandel Amsterdam

Branch number

000019717113

VAT-number

004804065

Status

Active

First registration company register

1959-04-01

Memorandum

1959-04-01

Establishment date

1959-01-01

Legal form

Private company with regular structure

Legal person since

1972-09-26

Last proposed admendment

1979-03-14

Issued placed capital

EUR 226.890

Paid up share capital

EUR 226.890

 

 

Activities

 

SBI

Manufacture of other general-purpose machinery and equipment n.e.c.(2829)

Exporter

No

Importer

No

Goal

Manufacturing and trade in machinery, parts and related items and all activities incidental thereto and the acceptance and granting of license rights and the acceptance of patents in the broadest sense

 

 

Relations

 

 

 

Shareholders

B.V. Holding Maatschappij 'Verwachting'

 

 

Bruynvisweg 1

1531AX WORMER

Netherlands

Registration number: 350068540000

Percentage: 100%

 

 

 

 

Branches

Sollas Holland B.V.

Eekboerstraat 63

7575AW OLDENZAAL

Netherlands

Registration number: 350089940001

 

 

 

 

Companies on same address

B.V. Holding Maatschappij 'Verwachting'

Registration number: 350068540000

 

Verwachting Vastgoed B.V.

Registration number: 350004460000

 

Holding Familie Oly Wormer B.V.

Registration number: 613021710000

 

 

 

 

Liability statements

B.V. Holding Maatschappij 'Verwachting'

Bruynvisweg 1

1531AX WORMER

Netherlands

Registration number: 350068540000

date of issue: 1992-12-01

Starting date: 1991-01-01

 

 

 

Management

 

Active management

 

P.J. Oly (Pieter Jacob)

 

Netherlands

 

Competence: Fully authorized Function: Manager

 

Starting date: 1979-01-01

 

Date of birth: 1942-10-11, Koog aan de Zaan, NL

 

 

P.F. Oly (Pieter Floris)

 

Netherlands

 

Competence: Fully authorized Function: Manager

 

Starting date: 2009-01-01

 

Date of birth: 1972-05-12, Wormerveer, NL

 

 

S. Koers (Stefan)

 

Netherlands

 

Competence: Fully authorized Function: Proxy

 

Starting date: 2006-03-13

 

Date of birth: 1966-02-23, Amsterdam, NL

 

 

Employees

 

Year

2015

2013

2012

2011

2007

Total

67

67

67

67

67

 

 

 

 

 

Key figures

 

 

 

 

 

 

Year

2013

2012

2011

2010

2009

Quick ratio

0,72

0,87

0,64

0,61

0,61

Current ratio

1,99

1,93

1,50

1,25

1,31

Working capital/ balance total

0,32

0,30

0,19

0,10

0,12

Equity / balance total

0,48

0,46

0,45

0,42

0,44

Equity / Fixed assets

1,36

1,20

1,04

0,90

0,93

Equity / liabilities

0,97

0,91

0,88

0,76

0,83

Balance total / liabilities

2,01

1,95

1,95

1,79

1,86

Working capital

3.411.127

3.088.913

1.772.619

1.108.413

1.255.312

Equity

5.111.340

4.861.326

4.287.884

4.510.846

4.539.733

Mutation equity

5,14

13,37

-4,94

-0,64

-3,35

Mutation short term liabilities

4,50

-7,03

-20,86

10,42

-13,40

Return on total assets (ROA)

3,69

8,31

6,95

0,56

0,15

Return on equity (ROE)

7,68

17,88

15,33

1,33

0,34

Gross margin

8.560.123

9.598.704

9.193.444

7.969.810

7.600.085

Operating result

423.593

882.856

691.926

-58.982

-157.930

Net result after taxes

266.093

564.345

420.825

-40.246

-25.151

Cashflow

486.269

747.258

542.630

69.086

 

EBIT

423.593

882.856

691.926

-58.982

-157.930

EBITDA

643.769

1.065.769

813.731

50.350

 

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 3.411.127 euro, which is in agreement with 32 % of the total assets of the company.

 

The working capital has increased with 10.43 % 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 1.99. 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 0.72. 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 3.088.913 euro, which is in agreement with 30 % of the total assets of the company.

 

The working capital has increased with 74.26 % 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 1.93. 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 0.87. 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

The financial statements shown in the report relate to the consolidated financial statements of the group.

 

 

Type of annual account

Consolidated

Annual account

B.V. Holding Maatschappij 'Verwachting'

Bruynvisweg 1

1531AX WORMER

Netherlands

Registration number: 350068540000

 

 

 

 

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

3.477.711

3.610.293

3.446.463

4.236.538

4.143.754

Financial fixed assets

285.168

446.073

677.418

773.369

741.217

Fixed assets

3.762.879

4.056.366

4.123.881

5.009.907

4.884.971

Total stock

4.371.957

3.533.804

3.039.048

2.882.801

2.846.758

Accounts receivable

1.596.748

2.121.417

1.747.274

1.632.578

 

Other receivables

334.576

287.670

254.393

698.851

 

Total receivables

1.931.324

2.409.087

2.001.667

2.331.429

2.024.063

Liquid funds

567.885

456.930

292.980

393.848

459.429

Current assets

6.871.166

6.399.821

5.333.695

5.608.078

5.330.250

Total assets

10.634.045

10.456.187

9.457.576

10.617.985

10.215.221

Minority interests

227.065

243.502

313.353

191.735

191.735

Total equity

5.111.340

4.861.326

4.287.884

4.510.846

4.539.733

Provisions

1.065.329

1.202.130

1.159.062

1.340.891

1.317.595

Long term interest yielding debt

770.272

838.321

136.201

74.848

91.220

Long term liabilities

770.272

838.321

136.201

74.848

91.220

Accounts payable

868.721

700.817

560.450

 

 

Other short term liabilities

2.591.318

2.610.091

3.000.626

 

 

Short term liabilities

3.460.039

3.310.908

3.561.076

4.499.665

4.074.938

Total short and long term liabilities

5.295.640

5.351.359

4.856.339

5.915.404

5.483.753

Total liabilities

10.634.045

10.456.187

9.457.576

10.617.985

10.215.221

 

Summary

 

The total assets of the company increased with 1.7 % between 2012 and 2013.

 

Despite the assets growth, the non current assets decreased with -7.24 %. The assets growth has been financed by a Net Worth increase of 5.14 %. The company's net increase has also covered a reduction of -1.04 % of the company's indebtedness. In 2013 the assets of the company were 35.39 % composed of fixed assets and 64.61 % by current assets. The assets are being financed by an equity of 48.07 %, and total debt of 51.93 %.

 

The total assets of the company increased with 10.56 % between 2011 and 2012. Despite the assets growth, the non current assets decreased with -1.64 %. The asset growth has mainly been financed by a Net Worth increase of 13.37 %. Debt, however, grew with 10.19 %.

 

In 2012 the assets of the company were 38.79 % composed of fixed assets and 61.21 % by current assets. The assets are being financed by an equity of 46.49 %, and total debt of 53.51 %.

 

 

Profit and loss

 

Year

2013

2012

2011

2010

2009

Gross margin

8.560.123

9.598.704

9.193.444

7.969.810

7.600.085

Wages and salaries

5.624.657

5.840.072

5.427.280

5.633.834

5.530.853

Amorization and depreciation

220.176

182.913

121.805

109.332

 

other operating costs

2.291.697

2.692.863

2.952.433

2.285.626

2.227.162

Operating expenses

8.136.530

8.715.848

8.501.518

8.028.792

7.758.015

Result in subsidiaries

43.255

81.967

64.689

219.721

338.541

Operating result

423.593

882.856

691.926

-58.982

-157.930

Financial income

 

 

4.217

 

 

Financial expenses

74.535

95.535

103.642

100.842

165.086

Financial result

-74.535

-95.535

-99.425

-100.842

-165.086

Result on ordinary operations before taxes

392.313

869.288

657.190

59.897

15.525

Taxation on the result of ordinary activities

90.891

253.176

114.747

24.721

-16.037

Result of ordinary activities after taxes

301.422

616.112

542.443

35.176

31.562

Net result

266.093

564.345

420.825

-40.246

-25.151

Attributable to third parties

35.329

51.767

121.618

75.422

56.713

 

Summary

 

The gross profit of the company decreased by -10.82 % between 2012 and 2013.

The operating result of the company declined with -52.02 % 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 -55.6 % of the analysed period, being equal to 2012 % in the year 2013.

The Net Result of the company increased by -52.85 % 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 -57.05 % of the analysed period, being 7.68 % in the year 2013.

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

The gross profit of the company grew with 4.41 % between 2011 and 2012. The operating result of the company grew with 27.59 % between 2011 and 2012. 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 19.57 % of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company decreased by 34.1 % between 2011 and 2012. 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 16.63 % of the analysed period, being 17.88 % in the year 2012.

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


Analysis

 

Branch (SBI)

Manufacture of machinery and equipment n.e.c. (28)

Region

Groot Amsterdam

 

In the Netherlands 4630 of the companies are registered with the SBI code 28

In the region Groot Amsterdam 203 of the companies are registered with the SBI code 28

In the Netherlands 136 of the bankrupcties are published within this sector

In the region Groot Amsterdam 1 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 Amsterdam is normal

 

 

Publications

 

Consent statements

01-08-2014: Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd.

10-07-2013: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd.

25-09-2012: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.

06-12-2011: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.

 

 

Company structure

 

Relations

3

 

B.V. Holding Maatschappij 'Verwachting'

Bruynvisweg 1

1531AX WORMER

Netherlands

Registration number: 350068540000

 

•   Sollas Holland B.V.

            Bruynvisweg 1

1531AX WORMER Netherlands

Registration number: 350089940000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.97.98

Euro

1

Rs.71.82

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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