MIRA INFORM REPORT
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Report No. : |
323695 |
|
Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
CPH CHEMICALS B.V. |
|
|
|
|
Operative Office : |
Amsterdamseweg 204A, 1182HL Amstelveen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
01.08.1999 |
|
|
|
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Com. Reg. No.: |
34120752 |
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|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
supplier of Petrochemicals, Fiber-Intermediates, Boron
Minerals, Specialty Chemicals and Plastics. Subject product ranges
includes: Fiber Intermediates
(Caprolactam, Polyamide 6, Polyamide 66, Adipic Acid And Cyclohexanone) Boron Minerals (Boric Acid, Boric Anhydride/Oxide And Disodium Octaborate) Base Chemicals (Titanium Dioxide, Zirconium Dioxide And Aluminum Fluoride) Specialty Chemicals (Sodium Borohydride, Technical Ammonium Sulphate, Aluminum Fluoride) Plastics (HDPE, LDPE, PP and PET) |
|
|
|
|
No of Employees : |
14 (2012) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
|
With Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but Correct |
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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 |
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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 CPH Chemicals B.V.
Operative address Amsterdamseweg
204A
1182HL Amstelveen
Netherlands
Risk Increased
risk
Status Active
Legal form Besloten
Vennootschap (Private Company)
Registration number KvK-nummer:
34120752
VAT-number
808564043
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
424.517 |
29,24 |
328.474 |
0,01 |
328.455 |
|
Total receivables |
7.837.644 |
-7,61 |
8.483.526 |
4,68 |
8.104.586 |
|
Total equity |
6.598.295 |
39,45 |
4.731.746 |
-24,82 |
6.293.838 |
|
Short term liabilities |
11.772.587 |
-25,90 |
15.887.081 |
7,74 |
14.745.270 |
|
Net result |
3.610.849 |
-24,03 |
4.752.933 |
15,49 |
4.115.336 |
Contact
information
Company name CPH
Chemicals B.V.
Trade names CPH
Chemicals B.V.
Operative address Amsterdamseweg
204A
1182HL Amstelveen
Netherlands
Correspondence address Amsterdamseweg 204A
1182HL Amstelveen
Netherlands
Telephone number 020
4260900
Fax number 020
4260900
Email address claudia@cphchemicals.nl
Website www.cphchemicals.nl
Registration
Registration number KvK-nummer:
34120752
Registered in Kamer
van Koophandel Amsterdam
Branch number 000016673441
VAT-number 808564043
Status Active
First registration
company register 2000-05-12
Memorandum 2000-02-10
Establishment date 1999-08-01
Legal form Besloten
Vennootschap (Private Company)
Last proposed
admendment 2001-04-17
Subscribed share capital EUR
90.756
Issued placed capital EUR
18.151
Paid up share capital EUR
18.151
Activities
supplier of petrochemicals, fiber-intermediates,
boron minerals, specialty chemicals and plastics.
Subject product ranges includes:
Fiber Intermediates
(Caprolactam, Polyamide 6, Polyamide 66, Adipic Acid And Cyclohexanone)
Boron Minerals
(Boric Acid, Boric Anhydride/Oxide And Disodium Octaborate)
Base Chemicals
(Titanium Dioxide, Zirconium Dioxide And Aluminum Fluoride)
Specialty Chemicals
(Sodium Borohydride, Technical Ammonium Sulphate, Aluminum Fluoride)
Plastics
(HDPE, LDPE, PP and PET)
Exporter Yes
Importer Yes
Goal De
(internationale)handel in chemicaliën, grondstoffen en mineralen.
(International) trade in chemicals, raw materials and minerals.)
Relations
Shareholders CPH
Chemicals Holding B.V.
Amsterdamseweg 204A
1182HL AMSTELVEEN
Netherlands
Registration number: 342312410000
Percentage: 100%
Management
Active management A.
Shabi (Aboed)
Netherlands
Competence: Fully authorized
Function: General Director
Starting date: 2000-02-10
Date of birth: 1962-03-29,
Bagdad, IQ
Employees
Year 2012
2011 2010 2009 2008
Total 14
14 14 14 14
Payments
Description The payments are extremely
delayed
Key figures
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick ratio |
0,67 |
0,54 |
0,55 |
0,62 |
0,81 |
|
Current ratio |
1,52 |
1,28 |
1,40 |
1,49 |
1,64 |
|
Working capital/ balance total |
0,34 |
0,21 |
0,28 |
0,32 |
0,38 |
|
Equity / balance total |
0,36 |
0,23 |
0,30 |
0,34 |
0,41 |
|
Equity / Fixed assets |
15,54 |
14,41 |
19,16 |
19,03 |
15,69 |
|
Equity / liabilities |
0,56 |
0,30 |
0,43 |
0,52 |
0,69 |
|
Balance total / liabilities |
1,56 |
1,30 |
1,43 |
1,52 |
1,69 |
|
Working capital |
6.173.778 |
4.403.272 |
5.965.383 |
4.738.848 |
4.415.677 |
|
Equity |
6.598.295 |
4.731.746 |
6.293.838 |
5.001.623 |
4.716.267 |
|
Mutation equity |
39,45 |
-24,82 |
25,84 |
6,05 |
-29,39 |
|
Mutation short term liabilities |
-25,90 |
7,74 |
53,45 |
40,02 |
-41,78 |
|
Return on total assets (ROA) |
26,04 |
30,52 |
26,06 |
27,18 |
47,66 |
|
Return on equity (ROE) |
72,50 |
133,01 |
87,10 |
79,40 |
117,02 |
|
Gross profit margin |
4,01 |
--- |
---- |
---- |
5,35 |
|
Net profit margin |
3,25 |
--- |
---- |
---- |
4,30 |
|
Average collection ratio |
9,43 |
--- |
---- |
---- |
13,93 |
|
Average payment ratio |
14,17 |
--- |
---- |
---- |
17,50 |
|
Equity turnover ratio |
16,83 |
--- |
---- |
---- |
20,27 |
|
Total assets turnover ratio |
6,04 |
--- |
---- |
---- |
8,26 |
|
Fixed assets turnover ratio |
261,54 |
--- |
---- |
---- |
318,00 |
|
Inventory conversion ratio |
11,03 |
--- |
---- |
---- |
16,62 |
|
Turnover |
111.030.283 |
---- |
---- |
---- |
95.588.186 |
|
Gross margin |
7.291.930 |
9.422.355 |
8.302.437 |
6.559.143 |
6.668.385 |
|
Operating result |
4.448.752 |
6.320.102 |
5.495.670 |
3.643.850 |
5.111.849 |
|
Net result after taxes |
3.610.849 |
4.752.933 |
4.115.336 |
3.028.668 |
4.113.284 |
|
Cashflow |
3.662.451 |
4.795.505 |
4.155.483 |
3.093.438 |
4.186.096 |
|
Gross profit |
111.030.283 |
|
|
|
95.588.186 |
|
EBIT |
4.448.752 |
6.320.102 |
5.495.670 |
3.643.850 |
5.111.849 |
|
EBITDA |
4.500.354 |
6.362.674 |
5.535.817 |
3.708.620 |
5.184.661 |
Summary
The 2012 financial result structure is a positive working
capital of 6.173.778 euro, which is in
agreement with 34 % of the total assets of the company.
The working capital has increased with 40.21 % 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 1.52. 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 0.67. A company
with a Quick Ratio of less than
1 cannot currently pay back its current liabilities.
The 2011 financial result structure is a positive working
capital of 4.403.272 euro, which is in
agreement with 21 % of the total assets of the company.
The working capital has diminished with -26.19 % compared
to previous year. The ratio, with
respect to the total assets of the company has however,
declined.
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 1.28. 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 0.54. 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 The
company is obliged to file its financial statements.
Type of annual account Corporate
Annual account CPH
Chemicals B.V.
Amsterdamseweg 204A
1182HL Amstelveen
Netherlands
Registration number: 341207520000
Balance Sheets
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Tangible fixed assets |
164.205 |
90.133 |
103.020 |
99.521 |
158.649 |
|
Financial fixed assets |
260.312 |
238.341 |
225.435 |
163.254 |
141.941 |
|
Fixed assets |
424.517 |
11.760.368 |
12.563.578 |
262.775 |
300.590 |
|
Total stock |
10.068.183 |
7.511.002 |
7.810.422 |
8.426.029 |
5.752.803 |
|
Accounts receivable |
7.573.942 |
7.511.002 |
7.810.422 |
–-- |
4.304.647 |
|
Other receivables |
263.702 |
972.524 |
294.164 |
–-- |
1.156.010 |
|
Total receivables |
7.837.644 |
8.483.526 |
8.104.586 |
5.859.641 |
5.460.657 |
|
Liquid funds |
40.538 |
46.459 |
42.489 |
62.322 |
64.906 |
|
Current assets |
17.946.365 |
20.290.353 |
20.710.653 |
14.347.992 |
11.278.366 |
|
Total Assets |
18.370.882 |
20.618.827 |
21.039.108 |
14.610.767 |
11.578.956 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Legal and statutory reserve |
274.597 |
-3.074 |
299.045 |
--- |
164.711 |
|
Other reserves |
2.786.669 |
-36.264 |
1.861.306 |
--- |
420.121 |
|
Non-distributable profit |
3.518.878 |
4.752.933 |
4.115.336 |
--- |
4.113.284 |
|
Total reserves |
6.580.144 |
4.713.595 |
6.275.687 |
4.983.472 |
4.698.116 |
|
Total equity |
6.598.295 |
4.731.746 |
6.293.838 |
5.001.623 |
4.716.267 |
|
Accounts payable |
5.443.736 |
5.155.318 |
5.086.696 |
|
3.060.843 |
|
Other short term liabilities |
6.328.851 |
10.731.763 |
9.658.574 |
9.609.144 |
3.801.846 |
|
Short term liabilities |
11.772.587 |
15.887.081 |
14.745.270 |
9.609.144 |
6.862.689 |
|
Total short and long term liabilities |
11.772.587 |
15.887.081 |
14.745.270 |
9.609.144 |
6.862.689 |
|
Total liabilities |
18.370.882 |
20.618.827 |
21.039.108 |
14.610.767 |
11.578.956 |
Summary
The total assets of the company decreased with -10.9 % between
2011 and 2012.
Despite the total assets decrease, non current assets grew
with 29.24 %.
The asset reduction is in contrast with the equity growth
of 39.45 %. Due to this the total debt
decreased with -25.9 %.
In 2012 the assets of the company were 2.31 % composed of
fixed assets and 97.69 % by
current assets. The assets are being financed by an equity
of 35.92 %, and total debt of
64.08 %.
The total assets of the company decreased with -2 %
between 2010 and 2011.
The total assets are entirely composed of current assets.
The asset reduction results in an equity decrease of
-24.82 %. Despite the decrease, the
indebtness increased with 7.74 %.
In 2011 the assets of the company were 1.59 % composed of
fixed assets and 98.41 % by
current assets. The assets are being financed by an equity
of 22.95 %, and total debt of
77.05 %.
Profit & Loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Revenues |
111.219.406 |
--- |
--- |
--- |
96.721.682 |
|
Other operating income |
189.123 |
--- |
--- |
--- |
1.133.496 |
|
Net turnover |
111.030.283 |
---- ---- ----- |
95.588.186 |
||
|
Gross margin |
7.291.930 |
9.422.355 |
8.302.437 |
6.559.143 |
6.668.385 |
|
Wages and salaries |
1.921.845 |
1.794.331 |
1.678.728 |
1.675.102 |
1.500.951 |
|
Amorization and depreciation |
51.602 |
42.572 |
40.147 |
64.770 |
72.812 |
|
Sales |
103.738.353 |
|
|
|
88.919.801 |
|
other operating costs |
1.058.854 |
1.265.350 |
1.087.892 |
1.175.421 |
1.116.269 |
|
Operating expenses |
106.770.654 |
3.102.253 |
2.806.767 |
2.915.293 |
91.609.833 |
|
Result in subsidiaries |
91.971 |
97.906 |
122.181 |
233.754 |
6.147 |
|
Operating result |
4.448.752 |
6.320.102 |
5.495.670 |
3.643.850 |
5.111.849 |
|
|
|||||
|
Financial income |
459.568 |
320.727 |
366.160 |
93.902 |
611.023 |
|
Financial expenses |
216.483 |
445.072 |
501.890 |
|
209.937 |
|
Financial result |
243.085 |
-124.345 |
-135.730 |
93.902 |
401.086 |
|
Result on ordinary operations before taxes |
4.783.808 |
6.293.663 |
5.482.121 |
3.971.506 |
5.519.082 |
|
|
|||||
|
Taxation on the result of ordinary activities |
1.172.959 |
1.540.730 |
1.366.785 |
942.838 |
1.405.798 |
|
Result of ordinary activities after taxes |
3.610.849 |
4.752.933 |
4.115.336 |
3.028.668 |
4.113.284 |
|
|
|||||
|
Net result |
3.610.849 |
4.752.933 |
4.115.336 |
3.028.668 |
4.113.284 |
Summary
The gross profit of the company decreased by -22.61 %
between 2011 and 2012.
The operating result of the company declined with -29.61 %
between 2011 and 2012. 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 -14.68
% of the analysed period, being equal to 2011 % in the
year 2012.
The Net Result of the company increased by -24.03 %
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 -45.49 % of the analysed period, being 72.5 % in the
year 2012.
The company's financial profitability has been positively
affected by its financial structure.
The gross profit of the company grew with 13.49 % between
2010 and 2011.
The operating result of the company grew with 15 % between
2010 and 2011. 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 17.11
% of the analysed period, being equal to 2010 % in the
year 2011.
The Net Result of the company decreased by 15.49 % 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 52.71 % of the analysed period, being 133.01 % in the
year 2011.
The company's financial structure has slowed down its
financial profitability.
Analysis
Branch (SBI)
Wholesale trade (no motor vehicles and motorcycles) (46)
Region
Groot Amsterdam
In the Netherlands 109662 of the companies are registered
with the SBI code 46
In the region Groot Amsterdam 10512 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 Groot Amsterdam 209 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
Filings
17-02-2014: De jaarrekening over 2012 is gepubliceerd.
27-06-2012: De jaarrekening over 2011 is gepubliceerd.
09-08-2011: De jaarrekening over 2010 is gepubliceerd.
16-03-2010: De jaarrekening over 2008 is gepubliceerd.
Company
structure
Relations 5
CPH Chemicals Charitable Priva
Netherlands Antilles
CPH Chemicals Holding B.V.
Amsterdamseweg 204A
1182HL AMSTELVEEN
Netherlands
Registration number: 342312410000
CPH Chemicals B.V.
Amsterdamseweg 204A
1182HL Amstelveen
Netherlands
Registration number: 341207520000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
UK Pound |
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.93 |
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.