MIRA INFORM REPORT

 

 

Report No. :

325897

Report Date :

08.06.2015

 

IDENTIFICATION DETAILS

 

Name :

FRA®MELCO B.V.

 

 

Registered Office :

Ramgatseweg 48 4941VS Raamsdonksveer

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

20.11.2002

 

 

Com. Reg. No.:

32094081

 

 

Legal Form :

Private company with regular structure

 

 

Line of Business :
  • Manufacture of pesticides and other agrochemical products
  • Manufacture of pharmaceutical preparations
  • Wholesale of pharmaceutical goods

 

 

No. of Employees :

15 (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 – 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                                    Fra®melco B.V.

Operative address                                Ramgatseweg 48

4941VS RAAMSDONKSVEER

Netherlands

 

Legal form                                           Private company with regular structure

Registration number                            KvK-nummer: 32094081

VAT-number                                         811192209

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

1.341.201

109,85

639.130

95,39

327.111

Total receivables

1.430.519

-13,99

1.663.291

17,51

1.415.387

Total equity

179.375

284,13

-97.418

9,51

-107.652

Short term liabilities

1.357.453

18,00

1.150.341

32,55

867.828

Working capital

1.818.174

-7,40

1.963.452

-1,32

1.989.737

Quick ratio

1,13

-29,38

1,60

-24,88

2,13

 

 

 

 

Contact information

 

Company name                                    Fra®melco B.V.

Trade names                                        Framelco

Fra®melco B.V.

Operative address                                Ramgatseweg 48

4941VS RAAMSDONKSVEER

Netherlands

Correspondence address                     Ramgatseweg 48

4941VS RAAMSDONKSVEER

Netherlands

Telephone number                               0162-525629

 

 

Registration

 

Registration number                            KvK-nummer: 32094081

Branch number                                    000018841074

VAT-number                                         811192209

Status                                                  Active

First registration company register      2002-11-20

Memorandum                                       2002-11-20

Establishment date                              2002-11-20

Legal form                                           Private company with regular structure

Last proposed admendment                 2011-07-25

Issued placed capital                           EUR 18.000

Paid up share capital                           EUR 18.000

 

 

Activities

 

SBI                                                       Manufacture of pesticides and other agrochemical products (2020)

Manufacture of pharmaceutical preparations (2120)

Wholesale of pharmaceutical goods (46461)

Exporter                                               No

Importer                                               No

Goal                                                     De handel in, verkoop van chemische, natuur- en industriële produkten ten behoeve van de landbouw, met name voor dieren. Het verstrekken van adviezen en verlenen van diensten met betrekking tot produktie en verkoop op dat gebied. De handel, productie en verkoop van diergeneesmiddelen en aanverwante artikelen, alsmede preparaten ter bevordering vangroei.

 

 

Relations

 

Shareholders                                       Franklin Group B.V.

Ruisvoorn 5

4941SB RAAMSDONKSVEER

Netherlands

 

Registration number: 171675220000

Percentage: 100%

Shareholders                                       Naam: Graphicom S.A.

Adres: Grand-Rue 60, Luxemburg L-1660, Luxemburg

Ingeschreven in: Registre de Commerce et des sociétés te Luxemburg, Luxemburg onder

nummer B-36137.

Enig aandeelhouder sedert: 07-02-2007

 

 

Management

 

Active management                                   L.F. Snijders (Lars Frank)

Netherlands

Competence: Fully authorized

Function: General Director

Starting date: 2011-06-01

Date of birth: 1991-02-12, Turnhout, BE

B.A. Snijders (Benjamin Alphonsus)

Netherlands

Competence: Fully authorized

Function: General Director

Starting date: 2013-07-22

Date of birth: 1988-09-05, Dublin, IE

 

 

Employees

 

Year

2015

2014

2013

2012

2011

Total

15

15

15

15

15

 

 

 

Payments

 

Description                                          Overeenkomstig conditie

 

 

Key figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,13

1,60

2,13

0,60

0,88

Current ratio

2,34

2,71

3,29

1,18

1,74

           

Year

2013

2012

2011

2010

2009

Working capital/ balance total

0,40

0,52

0,62

0,14

0,33

Equity / balance total

0,04

-0,03

-0,03

-0,24

0,04

Equity / Fixed assets

0,13

-0,15

-0,33

-2,78

0,18

Equity / liabilities

0,04

-0,03

-0,03

-0,19

0,04

Balance total / liabilities

1,04

0,97

0,97

0,81

1,04

Working capital

1.818.174

1.963.452

1.989.737

260.617

548.817

Equity

179.375

-97.418

-107.652

-434.829

64.476

Mutation equity

284,13

9,51

75,24

-774,40

-59,86

Mutation short term liabilities

18,00

32,55

-39,16

91,92

-15,35

 

Summary

 

 

The 2013 financial result structure is a postive working captial of 1.818.174 euro, which is inagreement with 40 % of the total assets of the company.

The working capital has diminished with -7.4 % compared to previous year. The ratio, withrespect to the total assets of the company has however, declined.

The deterioration between 2012 and 2013 has mainly been caused by an increase of thecurrent liabilities.

The current ratio of the company in 2013 was 2.34. A company with a current ratio between1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2013 of the company was 1.13. A company with a Quick Ratio of more than1 can currently pay back its current liabilities.

The 2012 financial result structure is a postive working captial of 1.963.452 euro, which is inagreement with 52 % of the total assets of the company.

The working capital has diminished with -1.32 % compared to previous year. The ratio, withrespect to the total assets of the company has however, declined.

The deterioration between 2011 and 2012 has mainly been caused by an increase of thecurrent liabilities.

The current ratio of the company in 2012 was 2.71. A company with a current ratio between1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2012 of the company was 1.6. A company with a Quick Ratio of more than1 can 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                                    Fra®melco B.V.

Ramgatseweg 48

4941VS RAAMSDONKSVEER

Netherlands

Registration number: 320940810000

 

 

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

179.916

111.174

32.520

 

247.456

Tangible fixed assets

1.139.875

514.546

262.341

124.074

94.973

Financial fixed assets

21.410

13.410

32.250

32.250

25.000

Fixed assets

1.341.201

639.130

327.111

156.324

367.429

 

Total stock

1.639.791

1.269.581

1.006.387

829.282

639.354

Total receivables

1.430.519

1.663.291

1.415.387

768.922

602.822

Liquid funds

105.317

180.921

435.791

88.865

49.884

Current assets

3.175.627

3.113.793

2.857.565

1.687.069

1.292.060

Total assets

4.516.828

3.752.923

3.184.676

1.843.393

1.659.489

 

Issued capital

18.000

18.000

18.000

18.000

18.000

Legal and statutory reserve

179.916

111.174

 

 

 

Other reserves

-295.333

-236.826

-125.652

-452.829

46.476

Non-distributable profit

276.792

10.234

 

 

 

Total reserves

161.375

-115.418

-125.652

-452.829

46.476

Total equity

179.375

-97.418

-107.652

-434.829

64.476

 

Long term interest yielding debt

2.980.000

2.700.000

2.424.500

851.770

851.770

Long term liabilities

2.980.000

2.700.000

2.424.500

851.770

851.770

Short term liabilities

1.357.453

1.150.341

867.828

1.426.452

743.243

Total short and long term liabilities

4.337.453

3.850.341

3.292.328

2.278.222

1.595.013

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Total liabilities

4.516.828

3.752.923

3.184.676

1.843.393

1.659.489

 

Summary

 

The total assets of the company increased with 20.35 % between 2012 and 2013.

The total asset increase is retrievable in the fixed asset growth of 109.85 %.

The asset growth has mainly been financed by a Net Worth increase of 284.13 %. Debt,however, grew with 12.65 %.

In 2013 the assets of the company were 29.69 % composed of fixed assets and 70.31 % bycurrent assets. The assets are being financed by an equity of 3.97 %, and total debt of 96.03

%.

The total assets of the company increased with 17.84 % between 2011 and 2012.

The total asset increase is retrievable in the fixed asset growth of 95.39 %.

The asset growth has mainly been financed by a debt increase of 16.95 %. The Net Worth,however, grew with 9.51 %.

In 2012 the assets of the company were 17.03 % composed of fixed assets and 82.97 % bycurrent assets. The assets are being financed by an equity of -2.6 %, and total debt of 102.6%.

 

 

 

 

 

 

Analysis

 

Branch (SBI)                             MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS (20)

Region                                     West-Brabant

In the Netherlands 1365 of the companies are registered with the SBI code 20

In the region West-Brabant 130 of the companies are registered with the SBI code 20

In the Netherlands 17 of the bankrupcties are published within this sector

In the region West-Brabant 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 West-Brabant is normal

 

Publications

 

Filings                                                 17-02-2015: De jaarrekening over 2013 is gepubliceerd.

06-12-2013: De jaarrekening over 2012 is gepubliceerd.

03-07-2012: De jaarrekening over 2011 is gepubliceerd.

14-02-2012: De jaarrekening over 2010 is gepubliceerd.

17-02-2011: De jaarrekening over 2009 is gepubliceerd.

Functions                                 23-07-2013: Per 22-07-2013 is bestuurder Benjamin Alphonsus Snijders in

functie getreden.

23-07-2013: Per 22-07-2013 is bestuurder Johannes Antonius Maria van den Berg uit functie

getreden.

19-08-2011: Per 01-06-2011 is bestuurder Lars Frank Snijders in functie getreden.

Amendments                            28-07-2011: Per 25-7-2011 statuten gewijzigd. Per 25-7-2011 naam gewijzigd in: Fra®melco

B.V.. Zetel gewijzigd in: Raamsdonksveer.

 

 

Company structure

 

Relations

 

Labodax Galina Ltd

Griva Digeni 81-83 Jacovides To

1090 Nicosia

Cyprus

• Franklin Group B.V.

Ruisvoorn 5

4941SB RAAMSDONKSVEER

Netherlands

Registration number: 171675220000

• Fra®melco B.V.

Ramgatseweg 48

4941VS RAAMSDONKSVEER

Netherlands

Registration number: 320940810000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.97.97

Euro

1

Rs.71.82

 

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.