MIRA INFORM REPORT
|
Report No. : |
328832 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UCC COFFEE BENELUX B.V. |
|
|
|
|
Registered Office : |
Koopman Heeresweg 3, 8701PR Bolsward |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.10.1993 |
|
|
|
|
Com. Reg. No.: |
34289144 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
87 (2015) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
Summary
|
|
|
Company name |
UCC COFFEE BENELUX B.V. |
|
Operative address |
Koopman Heeresweg 3 |
|
|
8701PR Bolsward |
|
|
Netherlands |
|
Legal form |
Private Company |
|
Registration number |
KvK-nummer: 34289144 |
|
VAT-number |
818799705 |
|
Year |
2011 |
Mutation |
2010 |
Mutation |
2009 |
|
Fixed assets |
287.591.000 |
2,19 |
281.425.000 |
5,75 |
266.118.000 |
|
Total receivables |
74.817.000 |
19,44 |
62.642.000 |
22,74 |
51.038.000 |
|
Total equity |
-90.176.000 |
-30,46 |
-69.122.000 |
-67,71 |
-41.214.000 |
|
Short term liabilities |
121.688.000 |
18,05 |
103.081.000 |
59,91 |
64.463.000 |
|
Net result |
-21.320.000 |
28,91 |
-29.990.000 |
-35,77 |
-22.089.000 |
|
Working capital |
21.059.000 |
-2,25 |
21.543.000 |
-34,14 |
32.710.000 |
|
Quick ratio |
0,80 |
|
0,80 |
-25,23 |
1,07 |
Contact
information
|
Company name |
UCC Coffee Benelux B.V. |
|
Trade names |
United Coffee |
|
|
UCC Coffee Benelux B.V. UCC Coffee Benelux UCC Coffee Export Koffiebranderij en Theehandel "Drie Mollen sinds 1818" Drie Mollen Export Drie Mollen Services Verenigde Koffiebranderijen VEKA Favor Agem Koffie & Thee Otter Koffie- en Theehandel Musetti Holdings Café2008 Holdings |
|
Operative address |
Koopman Heeresweg 3 |
|
|
8701PR Bolsward |
|
|
Netherlands |
|
Correspondence address |
Postbus 182 |
|
|
8700AD Bolsward |
|
|
Netherlands |
|
Telephone number |
0515570501 |
|
Email address |
info@unitedcoffee.nl |
|
Website |
www.unitedcoffee.nl |
Registration
|
|
|
|
|
|
Registration number |
KvK-nummer: 34289144 |
|
Branch number |
000015797104 |
|
VAT-number |
818799705 |
|
Status |
Active |
|
First registration company register |
2007-12-19 |
|
Memorandum |
2007-12-19 |
|
Establishment date |
1993-10-01 |
|
Legal form |
Private Company |
|
Legal person since |
2013-10-11 |
|
Last proposed admendment |
2013-10-11 |
|
Issued placed capital |
EUR 18.000 |
|
Paid up share capital |
EUR 18.000 |
Activities
|
|
|
|
|
|
SBI |
Processing of tea and coffee (1083) |
|
|
Wholesale of coffee, tea, cocoa and spices (no raw) (4637) |
|
Exporter |
No |
|
Importer |
No |
|
Goal |
Branden van koffie en pinda's, handel in en verpakking van koffie,
thee, cacao en pinda's. |
Relations
|
Shareholders |
Naam: UCC Europe Finance Limited Bezoekadres: One Silk Street, Londen, EC2Y 8 HQ, Verenigd Koninkrijk Ingeschreven in: Companies Registration Office Cardiff, Verenigd Koninkrijk onder nummer 7704999 Enig aandeelhouder sedert: 12-01-2012 (datum registratie: 13-01-2012) |
|
Companies on same address |
Personeelsvereniging Drie Mollen Bolsward Registration number: 011055340000 Stichting Uittreden Koffiebranderij en Theehandel Drie Mollen sinds 1818 B.V. Registration number: 410840430000 Start People Inhouse Services B.V. Registration number: 390820010003 |
|
Liability statements |
Foreign entity date of issue: 2013-01-03 Starting date: 2012-11-07 |
Management
|
Active management |
S. Ueshima (Seisuke) Netherlands Competence: Fully authorized Function: Manager Starting date: 2012-05-18 Date of birth: 1973-11-21, Ashiya-city, JP Involved with the following
companies UCC Coffee Benelux B.V. Zuid Willemsvaart 217 5211SH 'S-HERTOGENBOSCH Netherlands Registration number: 342891440000 Function: Manager Smit & Dorlas Koffiebranders B.V. Nijverheidsweg 1 3641RP MIJDRECHT Netherlands Registration number: 332396070000 Function: Manager A.J. Leegstra (Anne Jan) Netherlands Competence: Jointly authorized Function: Manager Starting date: 2014-04-02 Date of birth: 1962-05-29, Leeuwarden, NL Involved with the following
companies UCC Coffee Benelux B.V. Zuid Willemsvaart 217 5211SH 'S-HERTOGENBOSCH Netherlands Registration number: 342891440000 Function: Manager W. de Boer - Laan (Wijtske) Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-10-11 Date of birth: 1975-11-18, Hoorn, NL W.N. de Bakker (Willem Nicolaas) Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-10-11 Date of birth: 1966-07-28, Haarlemmermeer, NL |
Employees
|
Year |
2015 |
2013 |
2011 |
2010 |
2009 |
|
Total |
87 |
87 |
980 |
896 |
839 |
Payments
|
|
|
|
|
|
Description |
The payments are regular |
Key
figures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
Quick ratio |
0,80 |
0,80 |
1,07 |
1,03 |
|
|
Current ratio |
1,17 |
1,21 |
1,51 |
1,49 |
|
|
Working capital/ balance total |
0,05 |
0,05 |
0,09 |
0,09 |
1,00 |
|
Equity / balance total |
-0,21 |
-0,17 |
-0,11 |
-0,05 |
1,00 |
|
Equity / Fixed assets |
-0,31 |
-0,25 |
-0,15 |
-0,07 |
|
|
Equity / liabilities |
-0,17 |
-0,15 |
-0,10 |
-0,05 |
|
|
Balance total / liabilities |
0,83 |
0,86 |
0,90 |
0,95 |
|
|
Working capital |
21.059.000 |
21.543.000 |
32.710.000 |
32.233.000 |
18.000 |
|
Equity |
-90.176.000 |
-69.122.000 |
-41.214.000 |
-19.125.000 |
18.000 |
|
Mutation equity |
-30,46 |
-67,71 |
-115,50 |
-106.350,00 |
|
|
Mutation short term liabilities |
18,05 |
59,91 |
-1,49 |
|
|
|
Return on total assets (ROA) |
-6,94 |
-6,55 |
-4,90 |
-4,47 |
|
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
Return on equity (ROE) |
33,10 |
38,45 |
43,17 |
87,12 |
|
|
Gross profit margin |
1,65 |
2,85 |
4,68 |
5,54 |
|
|
Net profit margin |
-5,05 |
-9,33 |
-7,93 |
-7,27 |
|
|
Average collection ratio |
3,47 |
3,12 |
4,32 |
4,31 |
|
|
Average payment ratio |
5,64 |
5,13 |
5,46 |
5,46 |
|
|
Equity turnover ratio |
-4,68 |
-4,65 |
-6,76 |
-14,75 |
|
|
Total assets turnover ratio |
0,98 |
0,79 |
0,77 |
0,76 |
|
|
Fixed assets turnover ratio |
1,47 |
1,14 |
1,05 |
1,02 |
|
|
Inventory conversion ratio |
9,18 |
7,68 |
9,96 |
9,42 |
|
|
Turnover |
421.944.000 |
321.371.000 |
278.622.000 |
282.089.000 |
|
|
Operating result |
6.948.000 |
9.172.000 |
13.044.000 |
15.632.000 |
|
|
Net result after taxes |
-21.320.000 |
-29.990.000 |
-22.089.000 |
-20.510.000 |
|
|
EBIT |
6.948.000 |
9.172.000 |
13.044.000 |
15.632.000 |
|
Summary
The 2011 financial result structure is a postive working captial of 21.059.000 euro, which is in agreement with 5 % of the total assets of the company.
The working capital has diminished with -2.25 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.
The deterioration between 2010 and 2011 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2011 was 1.17. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2011 of the company was 0.8. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.
The 2010 financial result structure is a postive working captial of 21.543.000 euro, which is in agreement with 5 % of the total assets of the company.
The working capital has diminished with -34.14 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
The deterioration between 2009 and 2010 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2010 was 1.21. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2010 of the company was 0.8. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.
Financial
statement
|
Last annual account |
2011 |
|
Remark annual account |
There is no financial data published |
|
Type of annual account |
Consolidated |
|
Annual account |
UCC Coffee Benelux B.V. Koopman Heeresweg 3 8701PR Bolsward Netherlands Registration number: 342891440001 |
Balance
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
End date |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
Intangible fixed assets |
229.825.000 |
236.219.000 |
232.776.000 |
243.803.000 |
|
|
Tangible fixed assets |
41.465.000 |
43.923.000 |
32.500.000 |
30.730.000 |
|
|
Financial fixed assets |
16.301.000 |
1.283.000 |
842.000 |
816.000 |
|
|
Fixed assets |
287.591.000 |
281.425.000 |
266.118.000 |
275.349.000 |
|
|
Total stock |
45.982.000 |
41.862.000 |
27.965.000 |
29.951.000 |
|
|
Accounts receivable |
65.850.000 |
52.322.000 |
42.617.000 |
41.774.000 |
|
|
Other receivables |
8.967.000 |
10.320.000 |
8.421.000 |
9.924.000 |
|
|
Total receivables |
74.817.000 |
62.642.000 |
51.038.000 |
51.698.000 |
|
|
Liquid funds |
21.948.000 |
20.120.000 |
18.170.000 |
16.023.000 |
18.000 |
|
Current assets |
142.747.000 |
124.624.000 |
97.173.000 |
97.672.000 |
18.000 |
|
Total assets |
430.338.000 |
406.049.000 |
363.291.000 |
373.021.000 |
18.000 |
|
Issued capital |
|
|
|
|
18.000 |
|
Minority interests |
522.000 |
597.000 |
513.000 |
423.000 |
|
|
Total equity |
-90.176.000 |
-69.122.000 |
-41.214.000 |
-19.125.000 |
18.000 |
|
Provisions |
3.554.000 |
4.159.000 |
8.082.000 |
9.646.000 |
|
|
Long term interest yielding debt |
225.404.000 |
218.662.000 |
200.468.000 |
201.763.000 |
|
|
Financial debts |
169.346.000 |
148.672.000 |
130.979.000 |
114.875.000 |
|
|
Long term liabilities |
394.750.000 |
367.334.000 |
331.447.000 |
316.638.000 |
|
|
Short term liabilities |
121.688.000 |
103.081.000 |
64.463.000 |
65.439.000 |
|
|
End date |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
Total short and long term liabilities |
519.992.000 |
474.574.000 |
403.992.000 |
391.723.000 |
|
|
Total liabilities |
430.338.000 |
406.049.000 |
363.291.000 |
373.021.000 |
18.000 |
Summary
The total assets of the company increased with 5.98 % between 2010 and 2011.
The fixed asset growth of 2.19 % is lower than the total asset growth. Asset growth is in contrasts with the net worth decline of -30.46 %. The company's indebtedness has, therefore, increased with 9.57 %.
In 2011 the assets of the company were 66.83 % composed of fixed assets and 33.17 % by current assets. The assets are being financed by an equity of -20.95 %, and total debt of 120.95 %.
The total assets of the company increased with 11.77 % between 2009 and 2010. The fixed asset growth of 5.75 % is lower than the total asset growth. Asset growth is in contrasts with the net worth decline of -67.71 %. The company's indebtedness has, therefore, increased with 17.47 %.
In 2010 the assets of the company were 69.31 % composed of fixed assets and 30.69 % by current assets. The assets are being financed by an equity of -17.02 %, and total debt of 117.02 %.
Profit
and loss
|
Year |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
426.403.000 |
330.338.000 |
277.131.000 |
283.339.000 |
|
Other operating income |
4.459.000 |
8.967.000 |
-1.491.000 |
1.250.000 |
|
Net turnover |
421.944.000 |
321.371.000 |
278.622.000 |
282.089.000 |
|
Operating expenses |
419.455.000 |
321.166.000 |
264.087.000 |
267.707.000 |
|
Operating result |
6.948.000 |
9.172.000 |
13.044.000 |
15.632.000 |
|
Financial income |
41.000 |
84.000 |
98.000 |
3.204.000 |
|
Financial expenses |
36.835.000 |
35.832.000 |
30.935.000 |
35.498.000 |
|
Financial result |
-36.794.000 |
-35.748.000 |
-30.837.000 |
-32.294.000 |
|
Result on ordinary operations before taxes |
-29.846.000 |
-26.576.000 |
-17.793.000 |
-16.662.000 |
|
Taxation on the result of ordinary activities |
-8.543.000 |
3.354.000 |
4.272.000 |
3.787.000 |
|
Result of ordinary activities after taxes |
-21.303.000 |
-29.930.000 |
-22.065.000 |
-20.449.000 |
|
Result subsidiaries after taxes |
75.000 |
24.000 |
66.000 |
|
|
Net result |
-21.320.000 |
-29.990.000 |
-22.089.000 |
-20.510.000 |
|
Attributable to third parties |
92.000 |
84.000 |
90.000 |
61.000 |
Summary
The turnover of the company grew with 31.29 % between 2010 and 2011.
The operating result of the company declined with -24.25 % between 2010 and 2011. 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 -5.95 % of the analysed period, being equal to 2010 % in the year 2011.
Despite the decline the assets turnover increased by 24.05 % reaching 0.98. The Net Result of the company decreased by 28.91 % between 2010 and 2011. 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 -13.91 % of the analysed period, being 33.1 % in the year 2011.
The company's financial profitability has been positively affected by its financial structure.
The turnover of the company grew with 15.34 % between 2009 and 2010. The operating result of the company declined with -29.68 % between 2009 and 2010. 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 -33.67 % of the analysed period, being equal to 2009 % in the year 2010.
Despite the decline the assets turnover increased by 2.6 % reaching 0.79. The Net Result of the company increased by -35.77 % between 2009 and 2010. 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 -10.93 % of the analysed period, being 38.45 % in the year 2010.
The company's financial profitability has been positively affected by its financial structure.
Analysis
|
Branch (SBI) |
Financial institutions, except insurance and pension funding (64) |
|
Region |
Midden-Brabant In the Netherlands 377806 of the companies are registered with the SBI code 64 In the region Midden-Brabant 15871 of the companies are registered with the SBI code 64 In the Netherlands 3279 of the bankrupcties are published within this sector In the region Midden-Brabant 201 of the bankruptcies are published within this sector The risk of this specific sector in the Netherlands is Low The risk of this specific sector in the region Midden-Brabant is Low |
Publications
|
Consent statements |
01-06-2015: Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd. |
|
|
03-05-2013: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd. |
|
Liability statements |
09-01-2013: Per 03-01-2013 is een aansprakelijkheidsverklaring door gedeponeerd. |
|
Filings |
15-05-2014: De jaarrekening over 2013 is gepubliceerd. 03-04-2012: De jaarrekening over 2011 is gepubliceerd. 29-04-2011: De jaarrekening over 2010 is gepubliceerd. |
|
Functions |
24-12-2014: Per 12-11-2014 is bestuurder Willibrordus Gerardus Antonius de Laat uit functie getreden. 02-07-2014: Per 02-04-2014 is bestuurder Anne Jan Leegstra in functie getreden. 29-05-2013: Per 06-05-2013 is bestuurder Willibrordus Gerardus Antonius de Laat in functie getreden. 29-05-2013: Per 29-04-2013 is bestuurder Heleen Cristiena van Benthem uit functie getreden. 30-05-2012: Per 18-05-2012 is bestuurder Seisuke Ueshima in functie getreden. 21-05-2012: Per 18-05-2012 is bestuurder Christopher John Campbell uit functie getreden. 24-02-2012: Per 21-02-2012 is bestuurder Heleen Cristiena van Benthem in functie getreden. 24-02-2012: Per 21-02-2012 is bestuurder Per Harkjaer uit functie getreden. 06-01-2012: Per 18-08-2011 is bestuurder Randl Louis Shure uit functie getreden. |
|
Mergers |
14-10-2013: Op 10-10-2013 fusieakte verleden. Verkrijgende rechtspersoon: UCC Coffee Benelux B.V., 34289144 Verdwijnende rechtspersoon: Drie Mollen International B.V., 30160753. 15-08-2013: Op 13-08-2013 fusievoorstel gedeponeerd. Verkrijgende rechtspersoon: Café2008 Holdings B.V., 34289144 Verdwijnende rechtspersoon: Drie Mollen International B.V., 30160753. 02-04-2012: Op 29-03-2012 fusieakte verleden. Verkrijgende rechtspersoon: Café2008 Holdings B.V., 34289144 Verdwijnende rechtspersoon: Café2008 Investment B.V., 34289146. 24-02-2012: Op 23-02-2012 fusievoorstel gedeponeerd. Verkrijgende rechtspersoon: Café2008 Holdings B.V., 34289144 Verdwijnende rechtspersoon: Café2008 Investment B.V., 34289146. |
|
Amendments |
14-10-2013: Per 10-10-2013 statuten gewijzigd. Per 11-10-2013 naam gewijzigd in: UCC |
|
|
Coffee Benelux B.V.. |
Company
structure
|
Relations |
2 |
UCC Europe Finance Limited
One Silk Street
Londen, EC2Y 8 HQ DAM_COUNTRY_UK
UCC Coffee Benelux B.V.
Koopman Heeresweg 3
8701PR Bolsward Netherlands
Registration number: 342891440001
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
|
UK Pound |
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.