MIRA INFORM REPORT
|
Report No. : |
321886 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NUPLEX RESINS B.V. |
|
|
|
|
Registered Office : |
Synthesebaan 1 4612RB Bergen op Zoom |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
27.02.1948 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 20025410 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacture of Plastics In Primary Forms. |
|
|
|
|
No. of Employee : |
441 |
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 : |
Good |
|
|
|
|
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 NUPLEX RESINS
B.V.
Operative
address Synthesebaan 1
4612RB Bergen op Zoom
Netherlands
Legal
form Private Company
Registration
number KvK-nummer: 20025410
VAT-number 003164482
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
38.788.000 |
30,10 |
29.815.000 |
110,48 |
14.165.000 |
|
Total receivables |
54.260.000 |
-32,06 |
79.861.000 |
75,48 |
45.511.000 |
|
Total equity |
54.837.000 |
-12,47 |
62.649.000 |
82,18 |
34.388.000 |
|
Short term liabilities |
52.491.000 |
-18,64 |
64.514.000 |
41,80 |
45.498.000 |
|
Net result |
15.388.000 |
16,05 |
13.260.000 |
9,93 |
12.062.000 |
|
Working capital |
20.098.000 |
-45,17 |
36.656.000 |
47,88 |
24.788.000 |
|
Quick ratio |
1,09 |
-16,15 |
1,30 |
11,11 |
1,17 |
Contact
information
Company
name Nuplex Resins B.V.
Trade
names Nuplex Resins B.V.
Operative
address Synthesebaan 1
4612RB Bergen op Zoom
Netherlands
Correspondence
address Postbus 79
4600AB Bergen Op Zoom
Netherlands
Telephone
number 0164276911
Website
www.nuplexresins.com
Registration
Registration
number KvK-nummer: 20025410
Branch
number 000018436374
VAT-number
003164482
Status
Active
Memorandum
1947-12-22
Establishment
date 1948-02-27
Legal
form Private Company
Last
proposed admendment 2005-06-14
Issued
placed capital EUR 349.580
Paid
up share capital EUR 349.580
Activities
SBI
Manufacture of plastics in
primary forms (2016)
Exporter No
Importer
No
Branche
organisations VVVF - Vereniging van Verf-
en Drukinktfabrikanten
Goal
Chemisch bedrijf produktie
van kunstharsen.
Relations
Shareholders
Nuplex Industries B.V.
Synthesebaan 1
4612RB BERGEN OP ZOOM
Netherlands
Registration number: 332891570000
Percentage: 100%
Companies
on same address Nuplex Industries B.V.
Registration number: 332891570000
Nuplex Sino Chemicals B.V.
Registration number: 090892660000
Stichting Nuplex Pensioenfonds
Registration number: 201225900000
Liability
statements Akzo Nobel
N.V.
Strawinskylaan 2555
1077ZZ Amsterdam
Netherlands
Registration number: 09007809
End date: 2009-12-31
Management
Active
management P.C. Geuze
(Pieter Cornelis)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2003-11-15
Date of birth: 1958-10-31, Tholen, NL
P.E. Kieffer (Paul Engelbert)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2003-11-15
Date of birth: 1956-03-13, Arnhem, NL
A.D. van Wijk (Arie Dirk)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2010-04-23
Date of birth: 1963-02-08, Rotterdam, NL
J.F.M. van den Biggelaar (Johannes Franciscus
Maria)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2011-12-01
Date of birth: 1965-01-21, Boxtel, NL
E.J. Williams (Evan James)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2012-01-25
Date of birth: 1955-02-21, Sydney, AU
N.P. Stallard (Norman Peter)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2013-06-01
Date of birth: 1955-10-31, War, US
C. Cuthell (Clive)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2014-12-19
Date of birth: 1972-01-01, Edinburgh, GB
Active management
R.M. van den Akker (Robert Marie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2003-11-01
Date of birth: 1955-10-29, Monster, NL
A.M. van Zunderd (Alphonsius Maria)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2003-11-01
Date of birth: 1951-06-10, Woensdrecht, NL
Involved with the following companies
• Stichting Wielercomité GP Adrie van der Poel
Hoogerheide
Huijgensstraat 34
4631GR Hoogerheide
Netherlands
Registration number: 200971940000
Function: Treasurer
Employees
Total according to the Chamber of Commerce 441
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
441 |
441 |
303 |
292 |
287 |
Payments
Description The payments are regular
Key
figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
1,09 |
1,30 |
1,17 |
0,97 |
0,77 |
|
Current ratio |
1,38 |
1,57 |
1,54 |
1,28 |
1,02 |
|
Working capital/ balance total |
0,18 |
0,28 |
0,29 |
0,18 |
0,02 |
|
Equity / balance total |
0,49 |
0,48 |
0,41 |
0,28 |
0,19 |
|
Equity / Fixed assets |
1,41 |
2,10 |
2,43 |
1,47 |
0,74 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Equity / liabilities |
0,97 |
0,92 |
0,69 |
0,39 |
0,23 |
|
Balance total / liabilities |
1,97 |
1,92 |
1,69 |
1,39 |
1,23 |
|
Working capital |
20.098.000 |
36.656.000 |
24.788.000 |
14.112.000 |
1.117.000 |
|
Equity |
54.837.000 |
62.649.000 |
34.388.000 |
22.326.000 |
13.030.000 |
|
Mutation equity |
-12,47 |
82,18 |
54,03 |
71,34 |
-27,62 |
|
Mutation short term liabilities |
-18,64 |
41,80 |
-10,40 |
1,58 |
-20,98 |
|
Return on total assets (ROA) |
15,47 |
13,87 |
18,99 |
16,07 |
0,10 |
|
Return on equity (ROE) |
31,42 |
28,99 |
46,64 |
57,68 |
0,54 |
|
Gross profit margin |
9,49 |
9,23 |
8,90 |
9,00 |
0,98 |
|
Net profit margin |
8,36 |
6,98 |
6,44 |
6,16 |
0,02 |
|
Average collection ratio |
3,51 |
2,95 |
4,12 |
2,97 |
2,53 |
|
Average payment ratio |
3,39 |
2,38 |
4,12 |
3,65 |
4,22 |
|
Equity turnover ratio |
3,36 |
3,03 |
5,45 |
6,76 |
9,72 |
|
Total assets turnover ratio |
1,65 |
1,45 |
2,22 |
1,88 |
1,84 |
|
Fixed assets turnover ratio |
4,74 |
6,37 |
13,22 |
9,92 |
7,21 |
|
Inventory conversion ratio |
12,08 |
11,15 |
11,00 |
9,73 |
9,97 |
|
Turnover |
184.044.000 |
190.019.000 |
187.311.000 |
150.995.000 |
126.633.000 |
|
Gross margin |
45.290.000 |
45.691.000 |
|
|
|
|
Operating result |
17.473.000 |
17.542.000 |
16.678.000 |
13.597.000 |
1.235.000 |
|
Net result after taxes |
15.388.000 |
13.260.000 |
12.062.000 |
9.296.000 |
27.000 |
|
Gross profit |
184.044.000 |
190.019.000 |
|
|
|
|
EBIT |
17.473.000 |
17.542.000 |
16.678.000 |
13.597.000 |
1.235.000 |
Summary
The 2013 financial result structure is a
postive working captial of 20.098.000 euro, which is in
agreement with 18 % of the total assets of
the company.
The working capital has diminished with
-45.17 % 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
1.38. 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
1.09. A company with a Quick Ratio of more than
1 can currently pay back its current
liabilities.
The 2012 financial result structure is a
postive working captial of 36.656.000 euro, which is in
agreement with 28 % of the total assets of
the company.
The working capital has increase with 47.88 %
compared to previous year. The ratio with
respect to the total assets of the company
has however, declined.
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
1.57. 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
1.3. A company with a Quick Ratio of more than
1 can currently pay back its current liabilities.
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 Nuplex
Resins B.V.
Synthesebaan 1
4612RB Bergen op Zoom
Netherlands
Registration number: 200254100000
Balance
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
2009-06-30 |
|
Intangible fixed assets |
|
|
|
|
700.000 |
|
Tangible fixed assets |
15.765.000 |
14.815.000 |
14.165.000 |
15.227.000 |
16.856.000 |
|
Financial fixed assets |
23.023.000 |
15.000.000 |
|
|
|
|
Fixed assets |
38.788.000 |
29.815.000 |
14.165.000 |
15.227.000 |
17.556.000 |
|
Total stock |
15.240.000 |
17.041.000 |
17.022.000 |
15.524.000 |
12.701.000 |
|
Accounts receivable |
38.871.000 |
39.981.000 |
35.167.000 |
29.543.000 |
20.027.000 |
|
Other receivables |
15.389.000 |
39.880.000 |
10.344.000 |
11.801.000 |
9.990.000 |
|
Total receivables |
54.260.000 |
79.861.000 |
45.511.000 |
41.344.000 |
30.017.000 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
2009-06-30 |
|
Liquid funds |
3.089.000 |
4.268.000 |
7.753.000 |
8.021.000 |
8.386.000 |
|
Current assets |
72.589.000 |
101.170.000 |
70.286.000 |
64.889.000 |
51.104.000 |
|
Total assets |
111.377.000 |
130.985.000 |
84.451.000 |
80.116.000 |
68.660.000 |
|
Issued capital |
350.000 |
350.000 |
123.000 |
123.000 |
123.000 |
|
Share premium reserve |
14.775.000 |
14.775.000 |
|
|
|
|
Other reserves |
24.324.000 |
34.265.000 |
22.203.000 |
12.907.000 |
12.880.000 |
|
Non-distributable profit |
15.388.000 |
13.259.000 |
12.062.000 |
9.296.000 |
27.000 |
|
Total reserves |
54.487.000 |
62.299.000 |
34.265.000 |
22.203.000 |
12.907.000 |
|
Total equity |
54.837.000 |
62.649.000 |
34.388.000 |
22.326.000 |
13.030.000 |
|
Provisions |
3.823.000 |
3.391.000 |
3.906.000 |
6.154.000 |
4.593.000 |
|
Long term interest yielding debt |
226.000 |
431.000 |
659.000 |
859.000 |
1.050.000 |
|
Long term liabilities |
226.000 |
431.000 |
659.000 |
859.000 |
1.050.000 |
|
Accounts payable |
31.269.000 |
32.245.000 |
34.752.000 |
28.502.000 |
18.684.000 |
|
Other short term liabilities |
21.222.000 |
32.269.000 |
10.746.000 |
22.275.000 |
31.303.000 |
|
Short term liabilities |
52.491.000 |
64.514.000 |
45.498.000 |
50.777.000 |
49.987.000 |
|
Total short and long term liabilities |
56.540.000 |
68.336.000 |
50.063.000 |
57.790.000 |
55.630.000 |
|
Total liabilities |
111.377.000 |
130.985.000 |
84.451.000 |
80.116.000 |
68.660.000 |
Summary The total assets of the company decreased
with -14.97 % between 2012 and 2013.
Despite the total assets decrease, non
current assets grew with 30.1 %.
Assets reduction is explained by a Net Worth
decrease of -12.47 %, and an indebtedness
reduction of -17.26 %.
In 2013 the assets of the company were 34.83
% composed of fixed assets and 65.17 % by
current assets. The assets are being financed
by an equity of 49.24 %, and total debt of
50.76 %.
The total assets of the company increased
with 55.1 % between 2011 and 2012.
The total asset increase is retrievable in
the fixed asset growth of 110.48 %.
The asset growth has mainly been financed by a
Net Worth increase of 82.18 %. Debt,
however, grew with 36.5 %.
In 2012 the assets of the company were 22.76
% composed of fixed assets and 77.24 % by
current assets. The assets are being financed
by an equity of 47.83 %, and total debt of
52.17 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
192.625.000 |
193.282.000 |
187.311.000 |
150.995.000 |
126.633.000 |
|
Other operating income |
8.581.000 |
3.263.000 |
|
|
|
|
Net turnover |
184.044.000 |
190.019.000 |
187.311.000 |
150.995.000 |
126.633.000 |
|
Gross margin |
45.290.000 |
45.691.000 |
|
|
|
|
Wages and salaries |
26.280.000 |
|
|
|
|
|
Sales |
138.754.000 |
31.412.000 |
|
|
|
|
other operating costs |
10.118.000 |
|
|
|
|
|
Operating expenses |
175.152.000 |
175.740.000 |
170.633.000 |
137.398.000 |
125.398.000 |
|
Operating result |
17.473.000 |
17.542.000 |
16.678.000 |
13.597.000 |
1.235.000 |
|
Financial income |
363.000 |
622.000 |
211.000 |
211.000 |
|
|
Financial expenses |
604.000 |
|
850.000 |
930.000 |
1.164.000 |
|
Financial result |
-241.000 |
622.000 |
-639.000 |
-719.000 |
-1.164.000 |
|
Result on ordinary operations before taxes |
17.232.000 |
18.164.000 |
16.039.000 |
12.878.000 |
71.000 |
|
Taxation on the result of ordinary activities |
1.844.000 |
4.904.000 |
3.977.000 |
3.582.000 |
44.000 |
|
Result of ordinary activities after taxes |
15.388.000 |
13.260.000 |
12.062.000 |
9.296.000 |
27.000 |
|
Net result |
15.388.000 |
13.260.000 |
12.062.000 |
9.296.000 |
27.000 |
Summary
The turnover of the company decreased by
-3.14 % between 2012 and 2013.
The gross profit of the company has remained
the same between 2012 and 2013.
The operating result of the company in 2012
is equal to the result in 2013. This evolution
implies an unchanged economic profitability
of the company.
The result of these changes is an increase of
the company's Economic Profitability of 11.54
% of the analysed period, being equal to 2012
% in the year 2013.
This growth has contributed to the increase
in assets turnover, increasing by 13.79 %
reaching 1.65.
The Net Result of the company decreased by
16.05 % between 2012 and 2013.
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 8.38 % of the analysed period, being 31.42
% in the year 2013.
The company's financial structure has slowed
down its financial profitability.
The turnover of the company grew with 1.45 %
between 2011 and 2012.
The operating result of the company grew with
5.18 % between 2011 and 2012. This
evolution implies an increase of the
company's economic profitability.
The result of these changes is a reduction of
the company's Economic Profitability of -26.96
% of the analysed period, being equal to 2011 % in the year 2012
This fall has contributed to a asset turnover decrease, whose index evolved from -34.68 to a
level of 1.45.
The Net Result of the company decreased by 9.93 % 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 -37.84 % of the analysed period, being 28.99 % in the year 2012.
The company's financial profitability has been positively affected by its financial structure.
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
28-02-2014: De jaarrekening
over 2013 (gebroken boekjaar) is gepubliceerd.
03-04-2013: De jaarrekening
over 2012 (gebroken boekjaar) is gepubliceerd.
24-05-2012: De jaarrekening
over 2011 (gebroken boekjaar) is gepubliceerd.
01-02-2011: De jaarrekening
over 2010 (gebroken boekjaar) is gepubliceerd.
Functions
09-02-2015: Per 19-12-2014 is bestuurder
Clive Cuthell in functie getreden.
09-02-2015: Per 19-12-2014
is bestuurder Ian Robert Davis uit functie getreden.
05-12-2013: Per 01-06-2013 is bestuurder
Norman Peter Stallard in functie getreden.
08-07-2013: Per 30-06-2013 is gevolmachtigde
Christiaan Camille Maria Sponselee uit functie getreden.
02-03-2012: Per 31-12-2011 is gevolmachtigde
Cornelis Arnoldus Havermans uit functie
getreden.
24-02-2012: Per 25-01-2012 is bestuurder Evan
James Williams in functie getreden.
22-02-2012: Per 17-02-2012 is bestuurder
Robert Joseph Skarvan uit functie getreden.
22-02-2012: Per 01-12-2011 is bestuurder Johannes
Franciscus Maria van den Biggelaar in
functie getreden.
04-01-2012: Per 30-09-2011 is bestuurder
Robert Harmsen uit functie getreden.
Amendments
04-07-2012: Geplaatst kapitaal gewijzigd in
EUR 349.580,00 Gestort kapitaal gewijzigd in
EUR 349.580,00.
22-02-2012: Per 17-2-2012 is de bevoegdheid
van Bestuurder Paul Engelbert Kieffer
gewijzigd.
Other
23-12-2014: ... Datum
deponering: 19-12-2014 Boekjaar: 2014 Soort deponering:
Geconsolideerde jaarrekening (art. 408 BW2).
03-04-2013: ... Datum deponering: 28-03-2013
Soort deponering: Geconsolideerde
jaarrekening (art. 408 BW2).
Company
structure
Relations 4
Nuplex Industries UK Ltd.
United Kingdom
• Nuplex Industries B.V.
Synthesebaan 1
4612RB BERGEN OP ZOOM
Netherlands
Registration number: 332891570000
• Nuplex Resins B.V.
Synthesebaan 1
4612RB Bergen op Zoom
Netherlands
Registration number: 200254100000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
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.