MIRA INFORM REPORT
|
Report No. : |
323796 |
|
Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
VANDERSTERRE HOLLAND B.V. |
|
|
|
|
Registered Office : |
Duitslandweg 9-11 2411NT Bodegraven |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
01.09.1946 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 29007753 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
37 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 VANDERSTERRE
HOLLAND B.V.
Operative
address Duitslandweg 9-11
2411NT Bodegraven
Netherlands
Legal
form Private Company
Registration
number KvK-nummer: 29007753
VAT-number
003020472
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
450.666 |
-30,03 |
644.087 |
-3,60 |
668.142 |
|
Total receivables |
6.786.873 |
13,58 |
5.975.193 |
9,11 |
5.476.332 |
|
Total equity |
4.337.519 |
7,01 |
4.053.498 |
11,74 |
3.627.575 |
|
Short term liabilities |
11.726.411 |
9,59 |
10.700.140 |
13,46 |
9.430.996 |
|
Net result |
1.584.021 |
11,09 |
1.425.923 |
15,28 |
1.236.877 |
|
Working capital |
4.519.282 |
14,94 |
3.931.775 |
11,30 |
3.532.550 |
|
Quick ratio |
0,78 |
-2,50 |
0,80 |
33,33 |
0,60 |
Contact
information
Company
name Vandersterre Holland B.V.
Trade
names Vandersterre Holland B.V.
Operative
address Duitslandweg 9-11
2411NT Bodegraven
Netherlands
Correspondence
address Postbus 57
2410AB Bodegraven
Netherlands
Telephone
number 0172606111
Fax
number 0172614133
Email
address vdsg.int@sterkaas.nl
Website
www.sterkaas.nl
Registration
Registration
number KvK-nummer: 29007753
Branch
number 000015954994
VAT-number
003020472
Status
Active
First
registration company register 1973-12-03
Memorandum
1973-12-03
Establishment
date 1946-09-01
Legal
form Private Company
Legal
person since 1973-12-03
Last
proposed admendment 2015-01-01
Issued
placed capital EUR 266.830
Paid
up share capital EUR 266.830
Activities
SBI
Agents involved in the sale
of food (4617)
Wholesale of dairy products
and edible oils and fats (46331)
Exporter
Yes
Importer
Yes
Goal De groothandel - waaronder
begrepen de import, export en commissiehandel - in kaas enandere
zuivelproducten en hetgeen daarmede samenhangt en/of daartoe dienstig is, alles
in de meest ruime zin van het woord.
Relations
Shareholders
Vandersterre
Groep Bedrijven B.V.
Duitslandweg 9-11
2411NT BODEGRAVEN
Netherlands
Registration number: 273352470000
Percentage: 100%
Management
Active
management J. Kos (Jan)
1272PS
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 1989-01-01
Date of birth: 1960-10-29, Huizen, NL
Involved with the following companies
• Vandersterre Groep Packaging B.V.
Industrieweg 11
1613KT GROOTEBROEK
Netherlands
Registration number: 360211700000
Function: Manager
G. Klein (Gijsbert)
1272EL
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 1989-01-01
Date of birth: 1960-11-05, Huizen, NL
Active management
F. de Graaff (Frank)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2014-12-31
Date of birth: 1967-02-16, Enkhuizen, NL
Involved with the following companies
• Vandersterre Groep Packaging B.V.
Industrieweg 11
1613KT GROOTEBROEK
Netherlands
Registration number: 360211700000
Function: Manager
Employees
|
Year |
2015 |
2013 |
2012 |
2011 |
2010 |
|
Total |
37 |
50 |
37 |
37 |
37 |
Payments
Description Payments are made regularly no complaints are known
Key
figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
0,78 |
0,80 |
0,60 |
0,59 |
0,62 |
|
Current ratio |
1,39 |
1,37 |
1,37 |
1,35 |
1,47 |
|
Working capital/ balance total |
0,27 |
0,26 |
0,26 |
0,24 |
0,30 |
|
Equity / balance total |
0,26 |
0,27 |
0,27 |
0,26 |
0,31 |
|
Equity / Fixed assets |
9,62 |
6,29 |
5,43 |
4,61 |
6,34 |
|
Equity / liabilities |
0,35 |
0,36 |
0,36 |
0,35 |
0,46 |
|
Balance total / liabilities |
1,35 |
1,36 |
1,36 |
1,35 |
1,46 |
|
Working capital |
4.519.282 |
3.931.775 |
3.532.550 |
3.199.118 |
3.489.742 |
|
Equity |
4.337.519 |
4.053.498 |
3.627.575 |
3.390.698 |
3.603.852 |
|
Mutation equity |
7,01 |
11,74 |
6,99 |
-5,91 |
74,92 |
|
Mutation short term liabilities |
9,59 |
13,46 |
2,32 |
24,75 |
-52,46 |
|
Return on total assets (ROA) |
12,62 |
12,43 |
12,03 |
12,71 |
18,00 |
|
Return on equity (ROE) |
48,58 |
46,83 |
45,22 |
49,29 |
57,17 |
|
Gross profit margin |
|
|
|
|
4,05 |
|
Net profit margin |
|
|
|
|
2,69 |
|
Average collection ratio |
|
|
|
|
7,75 |
|
Average payment ratio |
|
|
|
|
12,42 |
|
Equity turnover ratio |
|
|
|
|
15,89 |
|
Total assets turnover ratio |
|
|
|
|
5,00 |
|
Fixed assets turnover ratio |
|
|
|
|
100,72 |
|
Inventory conversion ratio |
|
|
|
|
9,14 |
|
Turnover |
|
|
|
|
57.283.173 |
|
Gross margin |
8.907.487 |
8.554.478 |
8.439.399 |
8.512.505 |
9.456.113 |
|
Operating result |
2.195.066 |
1.978.083 |
1.853.130 |
1.900.198 |
2.319.542 |
|
Net result after taxes |
1.584.021 |
1.425.923 |
1.236.877 |
1.286.846 |
1.543.566 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Cashflow |
1.791.627 |
1.639.579 |
1.451.122 |
1.499.224 |
|
|
EBIT |
2.195.066 |
1.978.083 |
1.853.130 |
1.900.198 |
2.319.542 |
|
EBITDA |
2.402.672 |
2.191.739 |
2.067.375 |
2.112.576 |
|
Summary
The 2013 financial result structure is a postive
working captial of 4.519.282 euro, which is in
agreement with 27 % of the total assets of
the company.
The working capital has increased with 14.94
% compared to previous year. The ratio, with
respect to the total assets of the company
has however, increased.
The improvement between 2012 and 2013 has
mainly been caused by an increase of the
current assets.
The current ratio of the company in 2013 was
1.39. 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
0.78. A company with a Quick Ratio of less than
1 cannot currently pay back its current
liabilities.
The 2012 financial result structure is a
postive working captial of 3.931.775 euro, which is in
agreement with 26 % of the total assets of
the company.
The working capital has increased with 11.3 %
compared to previous year. The ratio with
respect to the total assets of the company
remains unchanged.
The improvement between 2011 and 2012 has mainly
been caused by a current liabilities
reduction.
The current ratio of the company in 2012 was
1.37. 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
0.8. A company with a Quick Ratio of less than 1
cannot 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 Vandersterre
Holland B.V.
Duitslandweg 9-11
2411NT Bodegraven
Netherlands
Registration number: 290077530000
Balance
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Tangible fixed assets |
450.666 |
644.087 |
668.142 |
736.236 |
568.748 |
|
Fixed assets |
450.666 |
644.087 |
668.142 |
736.236 |
568.748 |
|
Total stock |
7.119.864 |
6.042.087 |
7.339.105 |
6.981.536 |
6.264.335 |
|
Accounts receivable |
6.462.515 |
5.766.712 |
5.162.073 |
5.082.820 |
4.226.172 |
|
Other receivables |
324.358 |
208.481 |
314.259 |
256.781 |
385.808 |
|
Total receivables |
6.786.873 |
5.975.193 |
5.476.332 |
5.339.601 |
4.611.980 |
|
Liquid funds |
2.338.956 |
2.614.635 |
148.109 |
94.757 |
1.518 |
|
Current assets |
16.245.693 |
14.631.915 |
12.963.546 |
12.415.894 |
10.877.833 |
|
Total assets |
16.696.359 |
15.276.002 |
13.631.688 |
13.152.130 |
11.446.581 |
|
Issued capital |
266.830 |
266.830 |
266.830 |
266.830 |
266.830 |
|
Other reserves |
2.486.668 |
2.360.745 |
2.123.868 |
1.837.022 |
1.793.456 |
|
Non-distributable profit |
1.584.021 |
1.425.923 |
1.236.877 |
1.286.846 |
1.543.566 |
|
Total reserves |
4.070.689 |
3.786.668 |
3.360.745 |
3.123.868 |
3.337.022 |
|
Total equity |
4.337.519 |
4.053.498 |
3.627.575 |
3.390.698 |
3.603.852 |
|
Provisions |
632.429 |
522.364 |
573.117 |
544.656 |
454.638 |
|
Accounts payable |
5.003.000 |
4.073.791 |
3.427.148 |
3.103.705 |
2.901.274 |
|
Other short term liabilities |
6.723.411 |
6.626.349 |
6.003.848 |
6.113.071 |
4.486.817 |
|
Short term liabilities |
11.726.411 |
10.700.140 |
9.430.996 |
9.216.776 |
7.388.091 |
|
Total short and long term liabilities |
12.358.840 |
11.222.504 |
10.004.113 |
9.761.432 |
7.842.729 |
|
Total liabilities |
16.696.359 |
15.276.002 |
13.631.688 |
13.152.130 |
11.446.581 |
Summary
The total assets of the company increased
with 9.3 % between 2012 and 2013.
Despite the assets growth, the non current
assets decreased with -30.03 %.
The asset growth has mainly been financed by
a debt increase of 10.13 %. The Net Worth,
however, grew with 7.01 %.
In 2013 the assets of the company were 2.7 %
composed of fixed assets and 97.3 % by
current assets. The assets are being financed
by an equity of 25.98 %, and total debt of
74.02 %.
The total assets of the company increased
with 12.06 % between 2011 and 2012.
Despite the assets growth, the non current
assets decreased with -3.6 %.
The asset growth has mainly been financed by
a debt increase of 12.18 %. The Net Worth,
however, grew with 11.74 %.
In 2012 the assets of the company were 4.22 %
composed of fixed assets and 95.78 % by
current assets. The assets are being financed
by an equity of 26.54 %, and total debt of
73.46 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
|
|
|
|
57.283.173 |
|
Net turnover |
|
|
|
|
57.283.173 |
|
Gross margin |
8.907.487 |
8.554.478 |
8.439.399 |
8.512.505 |
9.456.113 |
|
Wages and salaries |
2.889.088 |
2.748.236 |
2.824.564 |
3.024.434 |
2.804.779 |
|
Amorization and depreciation |
207.606 |
213.656 |
214.245 |
212.378 |
|
|
Sales |
|
|
|
|
47.827.060 |
|
other operating costs |
3.615.727 |
3.614.503 |
3.547.460 |
3.375.495 |
4.331.792 |
|
Operating expenses |
6.712.421 |
6.576.395 |
6.586.269 |
6.612.307 |
54.963.631 |
|
Operating result |
2.195.066 |
1.978.083 |
1.853.130 |
1.900.198 |
2.319.542 |
|
Financial income |
1.289 |
1.784 |
4.841 |
6.384 |
|
|
Financial expenses |
89.003 |
81.568 |
217.609 |
235.412 |
|
|
Financial result |
-87.714 |
-79.784 |
-212.768 |
-229.028 |
-259.267 |
|
Result on ordinary operations before taxes |
2.107.352 |
1.898.299 |
1.640.362 |
1.671.170 |
2.060.275 |
|
Taxation on the result of ordinary activities |
515.812 |
464.309 |
390.355 |
395.599 |
516.709 |
|
Result of ordinary activities after taxes |
1.591.540 |
1.433.990 |
1.250.007 |
1.275.571 |
1.543.566 |
|
Extraordinary income |
|
|
|
11.275 |
|
|
Extraordinary expense |
7.519 |
8.067 |
13.130 |
|
|
|
Extraordinary result after taxation |
-7.519 |
-8.067 |
-13.130 |
11.275 |
|
Summary
The gross profit of the company grew with
4.13 % between 2012 and 2013.
The operating result of the company grew with
10.97 % between 2012 and 2013. 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 1.53 %
of the analysed period, being equal to 2012 %
in the year 2013.
The Net Result of the company decreased by
11.09 % 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 3.74 % of the analysed period, being 48.58
% in the year 2013.
The company's financial structure has slowed
down its financial profitability.
The gross profit of the company grew with
1.36 % between 2011 and 2012.
The operating result of the company grew with
6.74 % 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 3.33 %
of the analysed period, being equal to 2011 %
in the year 2012.
The Net Result of the company decreased by
15.28 % 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 3.56 % of the analysed period, being 46.83
% in the year 2012.
The company's financial structure has slowed down its financial
profitability.
Analysis
Branch
(SBI) Wholesale trade (no motor
vehicles and motorcycles) (46)
Region
Rijnland
In the Netherlands 109662 of the companies
are registered with the SBI code 46
In the region Rijnland 4319 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 Rijnland 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 Rijnland is normal
Publications
Filings
16-02-2015: De jaarrekening
over 2013 is gepubliceerd.
11-03-2014: De jaarrekening over 2012 is
gepubliceerd.
30-01-2013: De jaarrekening over 2011 is
gepubliceerd.
07-02-2012: De jaarrekening over 2010 is
gepubliceerd.
24-02-2011: De jaarrekening over 2009 is
gepubliceerd.
Functions 07-01-2015: Per 31-12-2014
is bestuurder Frank de Graaff in functie getreden.
Mergers 07-01-2015: Op 31-12-2014
fusieakte verleden. Verkrijgende rechtspersoon: Vandersterre
Holland B.V., 29007753 Verdwijnende
rechtspersoon: Vandersterre Groep Nederland B.V.,
29045037.
31-10-2014: Op 30-10-2014
fusievoorstel gedeponeerd. Verkrijgende rechtspersoon:
Vandersterre Groep International B.V.,
29007753 Verdwijnende rechtspersoon: Vandersterre Groep Nederland B.V.,
29045037.
Amendments
07-01-2015: Per 31-12-2014
statuten gewijzigd. Per 1-1-2015 naam gewijzigd in:
Vandersterre Holland B.V.. Zetel gewijzigd
in: gemeente Bodegraven-Reeuwijk.
Company
structure
Relations 8
Beheermaatschappij
Klein B.V.
Driftweg
233
1272AD
HUIZEN
Netherlands
Registration
number: 310415500000
•
Vandersterre Groep Bedrijven B.V.
Duitslandweg
9-11
2411NT
BODEGRAVEN
Netherlands
Registration
number: 273352470000
•
Vandersterre Holland B.V.
Duitslandweg
9-11
2411NT
Bodegraven
Netherlands
Registration
number: 290077530000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.84 |
|
|
1 |
Rs.98.38 |
|
Euro |
1 |
Rs.69.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.