MIRA INFORM REPORT
|
Report No. : |
322807 |
|
Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRIMBLE EUROPE B.V. |
|
|
|
|
Registered Office : |
Meerheide 45 5521DZ Eersel |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.09.1974 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 17035763 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
21 |
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 : |
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 Trimble
Europe B.V.
Operative
address Meerheide 45
5521DZ Eersel
Netherlands
Legal
form Private Company
Registration
number KvK-nummer: 17035763
VAT-number
003257447
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
476.433.244 |
11,17 |
428.547.024 |
1.730,95 |
23.405.667 |
|
Total receivables |
135.177.358 |
13,81 |
118.777.339 |
-44,14 |
212.652.652 |
|
Total equity |
35.422.163 |
37,74 |
25.716.052 |
45,79 |
17.639.335 |
|
Short term liabilities |
664.621.064 |
97,88 |
335.871.393 |
0,97 |
332.646.807 |
|
Net result |
10.203.123 |
36,21 |
7.490.532 |
38,80 |
5.396.820 |
|
Working capital |
-439.561.938 |
-219,59 |
-137.538.448 |
-9.324,66 |
-1.459.347 |
|
Quick ratio |
0,22 |
-42,11 |
0,38 |
-52,50 |
0,80 |
Contact
information
Company
name Trimble Europe B.V.
Trade
names Trimble Europe B.V.
Trimble
Laser plane
Spectra Precision
Operative
address Meerheide 45
5521DZ Eersel
Netherlands
Correspondence
address Meerheide 45
5521DZ Eersel
Netherlands
Telephone
number 0497 532451
Fax
number 0497 532450
Email
address erfcissues@trimble.com
Website
www.trimble.com
Registration
Registration
number KvK-nummer: 17035763
Branch
number 000020089147
VAT-number
003257447
Status
Active
First
registration company register 1974-10-07
Memorandum
1974-09-17
Establishment
date 1974-09-17
Legal
form Private Company
Last
proposed admendment 2006-11-21
Issued
placed capital EUR 22.700
Paid
up share capital EUR 22.700
Activities
SBI Wholesale of optical
articles (46436)
Wholesale of electronic and
communication equipment and related parts (4652)
Exporter
Yes
Importer
Yes
Goal
Het inkopen, verkopen,
importeren, exporteren, distribueren, opslaan, verpakken, testen,
controleren en assembleren
van goederen, hard- en software, alsmede het verlenen van
verkoopondersteuning en verrichten van
marktonderzoek, zulks met name voor de markt van Europa, het Midden-Oosten en
Afrika
Relations
Shareholders TNL Technology
Holdings C.V.
Blaak 40Basement
3011TA ROTTERDAM
Netherlands
Registration number:
244058360000
Percentage: 100%
Branches
Trimble
Europe BV
Breeuwhamer 1
1648HG DE GOORN
Netherlands
Registration number:
170357630001
Companies
on same address Menlo Worldwide
Forwarding, Inc.
Registration number: 340301090002
Management
Active management A.B.M. Snijders (Antonius Bastiaan Maria)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2006-11-21
Date of birth: 1960-05-20, Goirle, NL
Involved with the following companies
• LogicWay B.V.
Geelster 42
7577GB Oldenzaal
Netherlands
Registration number: 082059370000
Function: Manager
J.A. Kirkland (James Anthony)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2008-08-26
Date of birth: 1959-05-19, Buffalo, NL
Involved with the following companies
• LogicWay B.V.
Geelster 42
7577GB Oldenzaal
Netherlands
Registration number: 082059370000
Function: Manager
L.K. Lambertson (Leah Kay)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2008-11-15
Date of birth: 1967-11-22, Seattle, NL
W.J.A. van Kollenburg (Wilhelmus Johannes
Adrianus)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2009-06-15
Date of birth: 1957-01-14, Udenhout, NL
Active management
H. Gebauer (Hans-Jürgen)
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2009-06-15
Date of birth: 1956-05-15, Jena, DE
J.A. Kirkland (James Anthony)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-09-24
Date of birth: 1959-05-19, Buffalo, NL
Involved with the following companies
• LogicWay B.V.
Geelster 42
7577GB Oldenzaal
Netherlands
Registration number: 082059370000
Function: Manager
Employees
Total according to the Chamber of Commerce 21
|
Year |
2014 |
2012 |
2011 |
2010 |
2009 |
|
Total |
21 |
21 |
21 |
21 |
21 |
Payments
Description Geen klachten
Key
figures
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick ratio |
0,22 |
0,38 |
0,80 |
0,87 |
0,80 |
|
Current ratio |
0,34 |
0,59 |
1,00 |
1,03 |
1,03 |
|
Working capital/ balance total |
-0,63 |
-0,22 |
0,00 |
0,03 |
0,03 |
|
Equity / balance total |
0,05 |
0,04 |
0,05 |
0,05 |
0,04 |
|
Equity / Fixed assets |
0,07 |
0,06 |
0,75 |
3,27 |
1,97 |
|
Equity / liabilities |
0,05 |
0,04 |
0,05 |
0,05 |
0,04 |
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Balance total / liabilities |
1,05 |
1,04 |
1,05 |
1,05 |
1,04 |
|
Working capital |
-439.561.938 |
-137.538.448 |
-1.459.347 |
8.120.225 |
5.299.000 |
|
Equity |
35.422.163 |
25.716.052 |
17.639.335 |
11.361.235 |
7.238.000 |
|
Mutation equity |
37,74 |
45,79 |
55,26 |
56,97 |
444,62 |
|
Mutation short term liabilities |
97,88 |
0,97 |
39,47 |
21,98 |
36,32 |
|
Return on total assets (ROA) |
1,96 |
1,60 |
2,04 |
2,26 |
3,68 |
|
Return on equity (ROE) |
38,81 |
39,04 |
40,98 |
49,83 |
103,92 |
|
Gross profit margin |
1,75 |
1,67 |
2,02 |
1,43 |
2,36 |
|
Net profit margin |
1,60 |
1,33 |
1,27 |
1,28 |
1,49 |
|
Average collection ratio |
0,96 |
1,68 |
1,28 |
1,39 |
1,92 |
|
Average payment ratio |
4,73 |
4,74 |
2,00 |
2,23 |
2,62 |
|
Equity turnover ratio |
18,05 |
21,88 |
24,11 |
29,12 |
51,96 |
|
Total assets turnover ratio |
0,91 |
0,90 |
1,20 |
1,32 |
1,84 |
|
Fixed assets turnover ratio |
1,34 |
1,31 |
18,17 |
95,34 |
102,56 |
|
Inventory conversion ratio |
7,95 |
8,04 |
6,42 |
8,39 |
8,37 |
|
Turnover |
639.391.413 |
562.643.166 |
425.255.936 |
330.788.470 |
376.099.000 |
|
Gross margin |
328.954.840 |
297.289.587 |
219.579.880 |
151.792.961 |
168.898.000 |
|
Operating result |
11.195.241 |
9.370.894 |
8.573.576 |
4.732.749 |
8.871.000 |
|
Net result after taxes |
10.203.123 |
7.490.532 |
5.396.820 |
4.232.263 |
5.604.000 |
|
EBIT |
11.195.241 |
9.370.894 |
8.573.576 |
4.732.749 |
8.871.000 |
Summary
The 2012 financial result structure is a
negative working captial of -439.561.938 euro, which
is in agreement with -63 % of the total
assets of the company.
The working capital has diminished with
-219.59 % compared to previous year. The ratio,
with respect to the total assets of the
company has however, declined.
The deterioration between 2011 and 2012 has
mainly been caused by an increase of the
current liabilities.
The current ratio of the company in 2012 was
0.34. 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
0.22. A company with a Quick Ratio of less than
1 cannot currently pay back its current
liabilities.
The 2011 financial result structure is a
negative working captial of -137.538.448 euro, which
is in agreement with -22 % of the total
assets of the company.
The working capital has diminished with
-9324.66 % compared to previous year. The ratio,
with respect to the total assets of the
company has however, increased.
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
0.59. 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
0.38. A company with a Quick Ratio of less than
1 cannot currently pay back its current liabilities.
Financial
statement
Last
annual account 2012
Remark annual account Although the statutory period has expired, the
company's annual reports are not yet published.
Type
of annual account Corporate
Annual
account Trimble
Europe B.V.
Meerheide 45
5521DZ Eersel
Netherlands
Registration number: 170357630000
Balance
SHEET
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Intangible fixed assets |
464.605 |
493.856 |
50.116 |
110.371 |
308.000 |
|
Tangible fixed assets |
193.270 |
183.940 |
111.452 |
104.123 |
109.000 |
|
Financial fixed assets |
475.775.369 |
427.869.228 |
23.244.099 |
3.254.893 |
3.250.000 |
|
Fixed assets |
476.433.244 |
428.547.024 |
23.405.667 |
3.469.387 |
3.667.000 |
|
Total stock |
80.397.911 |
69.990.725 |
66.256.342 |
39.417.593 |
44.956.000 |
|
Accounts receivable |
102.590.575 |
92.684.905 |
80.458.617 |
63.901.829 |
68.714.000 |
|
Other receivables |
32.586.783 |
26.092.433 |
132.194.035 |
84.682.748 |
74.887.000 |
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Total receivables |
135.177.358 |
118.777.339 |
212.652.652 |
148.584.577 |
143.601.000 |
|
Liquid funds |
9.483.857 |
9.564.881 |
52.278.466 |
58.629.722 |
12.283.000 |
|
Current assets |
225.059.126 |
198.332.945 |
331.187.460 |
246.631.891 |
200.840.000 |
|
Total assets |
701.492.370 |
626.879.969 |
354.593.127 |
250.101.278 |
204.507.000 |
|
Issued capital |
24.253 |
24.731 |
23.936 |
22.213 |
23.000 |
|
Other reserves |
35.397.909 |
25.691.321 |
17.615.399 |
11.339.022 |
7.215.000 |
|
Total reserves |
35.397.909 |
25.691.321 |
17.615.399 |
11.339.022 |
7.215.000 |
|
Total equity |
35.422.163 |
25.716.052 |
17.639.335 |
11.361.235 |
7.238.000 |
|
Long term interest yielding debt |
1.449.144 |
265.292.524 |
4.306.984 |
228.377 |
1.728.000 |
|
Long term liabilities |
1.449.144 |
265.292.524 |
4.306.984 |
228.377 |
1.728.000 |
|
Accounts payable |
33.587.996 |
27.313.548 |
24.072.135 |
15.625.430 |
9.323.000 |
|
Other short term liabilities |
631.033.068 |
308.557.845 |
308.574.672 |
222.886.236 |
186.218.000 |
|
Short term liabilities |
664.621.064 |
335.871.393 |
332.646.807 |
238.511.666 |
195.541.000 |
|
Total short and long term liabilities |
666.070.207 |
601.163.917 |
336.953.791 |
238.740.043 |
197.269.000 |
|
Total liabilities |
701.492.370 |
626.879.969 |
354.593.127 |
250.101.278 |
204.507.000 |
Summary
The total assets of the company increased
with 11.9 % between 2011 and 2012.
The fixed asset growth of 11.17 % is lower than
the total asset growth.
The asset growth has mainly been financed by
a Net Worth increase of 37.74 %. Debt,
however, grew with 10.8 %.
In 2012 the assets of the company were 67.92
% composed of fixed assets and 32.08 % by
current assets. The assets are being financed
by an equity of 5.05 %, and total debt of 94.95
%.
The total assets of the company increased
with 76.79 % between 2010 and 2011.
The total asset increase is retrievable in
the fixed asset growth of 1730.95 %.
The asset growth has mainly been financed by
a debt increase of 78.41 %. The Net Worth,
however, grew with 45.79 %.
In 2011 the assets of the company were 68.36
% composed of fixed assets and 31.64 % by
current assets. The assets are being financed by an equity of 4.1 %, and
total debt of 95.9 %.
Profit
and loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
639.391.413 |
562.643.166 |
425.255.936 |
330.788.470 |
376.099.000 |
|
Net turnover |
639.391.413 |
562.643.166 |
425.255.936 |
330.788.470 |
376.099.000 |
|
Gross margin |
328.954.840 |
297.289.587 |
219.579.880 |
151.792.961 |
168.898.000 |
|
Wages and salaries |
2.736.092 |
|
1.404.744 |
1.629.182 |
2.023.000 |
|
Sales |
310.436.573 |
287.918.693 |
205.676.056 |
178.995.508 |
207.201.000 |
|
other operating costs |
315.023.507 |
|
209.601.560 |
145.431.030 |
158.004.000 |
|
Operating expenses |
628.196.172 |
553.272.272 |
416.682.360 |
326.055.721 |
367.228.000 |
|
Operating result |
11.195.241 |
9.370.894 |
8.573.576 |
4.732.749 |
8.871.000 |
|
Financial income |
3.020.312 |
1.112.142 |
295.460 |
|
143.000 |
|
Financial expenses |
469.911 |
443.620 |
1.639.616 |
|
1.492.000 |
|
Financial result |
2.550.402 |
668.522 |
-1.344.156 |
928.085 |
-1.349.000 |
|
Result on ordinary operations before taxes |
13.745.642 |
10.039.416 |
7.229.420 |
5.660.834 |
7.522.000 |
|
Taxation on the result of ordinary activities |
3.542.519 |
2.548.883 |
1.832.600 |
1.428.571 |
1.918.000 |
|
Result of ordinary activities after taxes |
10.203.123 |
7.490.532 |
5.396.820 |
4.232.263 |
5.604.000 |
|
Net result |
10.203.123 |
7.490.532 |
5.396.820 |
4.232.263 |
5.604.000 |
Summary
The turnover of the company grew with 13.64 %
between 2011 and 2012.
The gross profit of the company grew with
10.65 % between 2011 and 2012.
The operating result of the company grew with
19.47 % 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 22.5 %
of the analysed period, being equal to 2011 %
in the year 2012.
This growth has contributed to the increase
in assets turnover, increasing by 1.11 % reaching
0.91.
The Net Result of the company decreased by
36.21 % 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 0 % of the analysed period, being 38.81 %
in the year 2012.
The company's financial profitability has not
been affected by its financial structure.
The turnover of the company grew with 32.31 %
between 2010 and 2011.
The gross profit of the company grew with
35.39 % between 2010 and 2011.
The operating result of the company grew with
9.3 % between 2010 and 2011. 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 -21.57
% of the analysed period, being equal to 2010 % in the year 2011.
This fall has contributed to a asset turnover
decrease, whose index evolved from -25 to a
level of 0.9.
The Net Result of the company decreased by
38.8 % 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 -4.73 % of the analysed period, being
39.04 % in the year 2011.
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
02-06-2014: De jaarrekening
over 2012 is gepubliceerd.
21-02-2013: De jaarrekening over 2011 is
gepubliceerd.
18-08-2011: De jaarrekening over 2010 is
gepubliceerd.
08-03-2011: De jaarrekening over 2009 is
gepubliceerd.
Other
12-11-2012: ... Datum
deponering: 09-11-2012 Soort deponering: Geconsolideerde
jaarrekening (art. 408
BW2).
18-08-2011: Datum deponering:
16-08-2011 Soort deponering: Geconsolideerde
jaarrekening 408.
Company
structure
Relations 3
TNL
Technology Holdings C.V.
Blaak
40Basement
3011TA
ROTTERDAM
Netherlands
Registration
number: 244058360000
•
Trimble Europe B.V.
Meerheide
45
5521DZ
Eersel
Netherlands
Registration
number: 170357630000
•
Trimble International B.V.
Registration
number: 538546400000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.