MIRA INFORM REPORT
|
Report No. : |
347827 |
|
Report Date : |
07.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRONSWERK HEAT TRANSFER B.V. |
|
|
|
|
Registered Office : |
Stationsweg 22, 3862CG Nijkerk |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.05.1940 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 08022150 |
|
|
|
|
Legal Form : |
Besloten Vennootschap |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
128 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 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 |
Company
name
BRONSWERK HEAT
TRANSFER B.V.
Summary
|
Company name |
Bronswerk Heat Transfer B.V. |
|
Operative address |
Stationsweg 22 |
|
|
3862CG Nijkerk |
|
|
Netherlands |
|
|
|
|
Legal form |
Besloten Vennootschap |
|
Registration number |
KvK-nummer: 08022150 |
|
VAT-number |
007994850 |
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
2.382.000 |
-8,88 |
2.614.000 |
-9,86 |
2.900.000 |
|
|
|
|
|
|
|
|
Total receivables |
15.973.000 |
-1,69 |
16.248.000 |
13,38 |
14.330.000 |
|
|
|
|
|
|
|
|
Total equity |
9.483.000 |
11,70 |
8.490.000 |
-19,39 |
10.532.000 |
|
|
|
|
|
|
|
|
Short term liabilities |
13.253.000 |
-8,26 |
14.446.000 |
47,41 |
9.800.000 |
|
|
|
|
|
|
|
|
Net result |
993.000 |
148,65 |
-2.041.000 |
-47,05 |
-1.388.000 |
|
|
|
|
|
|
|
|
Working capital |
7.337.000 |
16,70 |
6.287.000 |
-20,61 |
7.919.000 |
|
|
|
|
|
|
|
|
Quick ratio |
1,22 |
7,02 |
1,14 |
-25,97 |
1,54 |
Contact
information
|
Company name |
Bronswerk Heat Transfer B.V. |
|
Trade names |
Bronswerk Heat Transfer B.V. |
|
|
|
|
Operative address |
Stationsweg 22 |
|
|
3862CG Nijkerk |
|
|
Netherlands |
|
Correspondence address |
Postbus 92 |
|
|
3860AB Nijkerk Gld |
|
|
Netherlands |
|
|
|
|
Telephone number |
0332472500 |
|
Fax number |
0332452338 |
|
Email address |
info@bronswerk.nl |
|
Website |
www.bronswerk.nl |
Registration
|
Registration number |
KvK-nummer: 08022150 |
|
Branch number |
000016828186 |
|
VAT-number |
007994850 |
|
Status |
Active |
|
First registration company register |
1989-04-11 |
|
Memorandum |
1989-04-10 |
|
Establishment date |
1940-05-25 |
|
Legal form |
Besloten Vennootschap |
|
Legal person since |
1989-04-10 |
|
Last proposed admendment |
2001-12-05 |
|
Issued placed capital |
EUR 680.670 |
|
Paid up share capital |
EUR 680.670 |
Activities
|
SBI |
2511: Manufacture of metal structures and parts of structures |
|
|
2825: Manufacture of non-domestic cooling and ventilation equipment |
|
|
|
|
ISO certified |
Yes |
|
Exporter |
Yes |
|
Importer |
No |
|
|
|
|
Branche organisations |
NIL - Nederlands Instituut voor Lastechniek |
|
|
IRO - Association of Dutch Suppliers in the Oil and Gas Industry |
|
|
GCA |
|
|
|
|
Goal |
1.Het ontwerpen, vervaardigen, leveren en repareren van machines,
apparaten, installaties en andere technische producten, alsmede onderdelen van
een en ander en de handel in technische producten, ijzer, staal en andere
metalen, materialen en grondstoffen en voorts het verrichten van alle
handelingen, welke hiermede in verband staan, daaruit voortvloeien of daaraan
bevorderlijk kunnen zijn, een en ander in de ruimste zin genomen. 2. Onder
het doel der vennootschap is mede-begrepen het oprichten en verwerven van,
het deelnemen in, het samenwerken met en het voeren van directie over andere
ondernemingen, alsmede het (doen) financieren, ook door middel van het
stellen van zekerheden, van andere ondernemingen, met name van die waarmee de
vennootschap in een groep is verbonden. 3. Binnen haar doel kan de
vennootschap al datgene verrichten wat met dit doel in de ruimste zin verband
houdt, zowel voor eigen rekening als voor rekening van derden. |
Relations
|
Shareholders |
Bronsw. Heat Transf. Hld. B.V. |
|
|
Stationsweg 22 3862CG NIJKERK GLD Netherlands Registration number: 08061356 Percentage: 100% |
|
Companies on same address (number) |
13 |
Management
|
Active management |
H.G. Schaëfer Hermanus Gerardus Netherlands Competence: Fully authorized Function: Manager Starting date: 2001-03-12 Date of birth: 1944-11-14, Amsterdam, NL J.W.M. Remmerswaal Jacobus Wilhelmus Maria
Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-11-22 Date of birth: 1958-08-31, Soest, NL J. Wallet Jan Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-11-22 Date of birth: 1968-10-14, Putten, NL C. Elbertsen Cornelis Netherlands Competence: Limited authorization Function: Proxy Starting date: 1989-04-10 Date of birth: 1954-06-13, Putten, NL |
Employees
|
Total according to the Chamber of Commerce |
128 |
|
Year |
2015 |
2013 |
2012 |
2011 |
2010 |
|
Total |
128 |
154 |
152 |
144 |
145 |
Payments
Description Slow
but correct
Key
figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
1,22 |
1,14 |
1,54 |
1,82 |
1,82 |
|
Current ratio |
1,55 |
1,44 |
1,81 |
2,20 |
2,59 |
|
Working capital/ balance
total |
0,32 |
0,27 |
0,38 |
0,46 |
0,55 |
|
Equity / balance
total |
0,41 |
0,36 |
0,51 |
0,60 |
0,65 |
|
Equity / Fixed
assets |
3,98 |
3,25 |
3,63 |
4,01 |
5,83 |
|
Equity / liabilities |
0,70 |
0,57 |
1,04 |
1,50 |
1,82 |
|
Balance total /
liabilities |
1,70 |
1,57 |
2,04 |
2,50 |
2,82 |
|
Working capital |
7.337.000 |
6.287.000 |
7.919.000 |
9.229.000 |
11.218.000 |
|
Equity |
9.483.000 |
8.490.000 |
10.532.000 |
11.919.000 |
13.255.000 |
|
Mutation equity |
11,70 |
-19,39 |
-11,64 |
-10,08 |
-3,35 |
|
Mutation short term
liabilities |
-8,26 |
47,41 |
27,57 |
8,86 |
-40,65 |
|
Return on total
assets (ROA) |
5,85 |
-11,66 |
-9,02 |
-9,02 |
-2,86 |
|
Return on equity
(ROE) |
14,17 |
-32,06 |
-17,65 |
-15,04 |
-4,43 |
|
Gross profit margin |
3,15 |
-6,86 |
-5,02 |
-5,70 |
-1,17 |
|
Net profit margin |
2,05 |
-5,56 |
-3,78 |
-4,11 |
-0,97 |
|
Average collection ratio |
3,66 |
2,54 |
3,75 |
4,23 |
6,72 |
|
Average payment ratio |
3,03 |
2,26 |
2,56 |
2,74 |
4,69 |
|
Equity turnover ratio |
5,11 |
4,33 |
3,49 |
2,72 |
3,58 |
|
Total assets turnover
ratio |
2,11 |
1,57 |
1,78 |
1,63 |
2,31 |
|
Fixed assets turnover
ratio |
20,34 |
14,05 |
12,67 |
10,91 |
20,86 |
|
Inventory conversion ratio |
10,88 |
8,70 |
14,10 |
10,95 |
8,72 |
|
Turnover |
48.459.000 |
36.729.000 |
36.738.000 |
32.474.000 |
47.425.000 |
|
Operating result |
1.527.000 |
-2.518.000 |
-1.843.000 |
-1.851.000 |
-555.000 |
|
Net result after
taxes |
993.000 |
-2.041.000 |
-1.388.000 |
-1.336.000 |
-460.000 |
|
EBIT |
1.527.000 |
-2.518.000 |
-1.843.000 |
-1.851.000 |
-555.000 |
Summary
The 2013 financial result structure is a postive working captial of 7.337.000
euro, which is in agreement with 32 % of the total assets of the company.
The working capital has increased with 16.7 % 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 1.55. A company with a
current ratio between 1.5 and 3.0 generally indicates good short-term financial
strength.
The quick ratio in 2013 of the company was 1.22. 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
6.287.000 euro, which is in agreement with 27 % of the total assets of the
company.
The working capital has diminished with -20.61 % 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 1.44. 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 1.14. 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 |
Bronswerk Heat Transfer B.V. Stationsweg 22 3862CG Nijkerk Netherlands Registration number: 08022150 |
Balance
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Intangible fixed assets |
1.159.000 |
1.336.000 |
1.513.000 |
1.690.000 |
799.000 |
|
Tangible fixed assets |
1.223.000 |
1.278.000 |
1.387.000 |
1.286.000 |
1.474.000 |
|
Fixed assets |
2.382.000 |
2.614.000 |
2.900.000 |
2.976.000 |
2.273.000 |
|
Total stock |
4.456.000 |
4.223.000 |
2.606.000 |
2.967.000 |
5.436.000 |
|
Accounts receivable |
13.943.000 |
13.943.000 |
11.372.000 |
8.772.000 |
7.912.000 |
|
Other receivables |
2.030.000 |
2.305.000 |
2.958.000 |
3.074.000 |
2.201.000 |
|
Total receivables |
15.973.000 |
16.248.000 |
14.330.000 |
11.846.000 |
10.113.000 |
|
Liquid funds |
161.000 |
262.000 |
783.000 |
2.098.000 |
2.726.000 |
|
Current assets |
20.590.000 |
20.733.000 |
17.719.000 |
16.911.000 |
18.275.000 |
|
Total assets |
22.972.000 |
23.347.000 |
20.619.000 |
19.887.000 |
20.548.000 |
|
Issued capital |
681.000 |
681.000 |
681.000 |
681.000 |
681.000 |
|
Legal and statutory
reserve |
1.599.000 |
1.336.000 |
1.513.000 |
1.690.000 |
799.000 |
|
Other reserves |
6.210.000 |
8.515.000 |
9.726.000 |
10.883.000 |
12.235.000 |
|
Non-distributable profit |
993.000 |
-2.042.000 |
-1.388.000 |
-1.335.000 |
-461.000 |
|
Total reserves |
8.802.000 |
7.809.000 |
9.851.000 |
11.238.000 |
12.573.000 |
|
Total equity |
9.483.000 |
8.490.000 |
10.532.000 |
11.919.000 |
13.255.000 |
|
Provisions |
236.000 |
411.000 |
287.000 |
286.000 |
236.000 |
|
Accounts payable |
10.223.000 |
|
7.584.000 |
6.407.000 |
|
|
Other short term
liabilities |
3.030.000 |
|
2.216.000 |
1.275.000 |
|
|
Short term liabilities |
13.253.000 |
14.446.000 |
9.800.000 |
7.682.000 |
7.057.000 |
|
Total short and
long term liabilities |
13.489.000 |
14.857.000 |
10.087.000 |
7.968.000 |
7.293.000 |
|
Total liabilities |
22.972.000 |
23.347.000 |
20.619.000 |
19.887.000 |
20.548.000 |
Summary
The total assets of the company decreased with -1.61 % between 2012 and
2013.
This downturn is mainly retrievable in the fixed asset decrease of -8.88 %. The asset reduction is in contrast with the equity growth of 11.7 %. Due to this the total debt decreased with -9.21 %.
In 2013 the assets of the company were 10.37 % composed of fixed assets and 89.63 % by current assets. The assets are being financed by an equity of 41.28 %, and total debt of 58.72 %.
The total assets of the company increased with 13.23 % between 2011 and 2012. Despite the assets growth, the non current assets decreased with -9.86 %.
Asset growth is in contrasts with the net worth decline of -19.39 %. The company's indebtedness has, therefore, increased with 47.29 %.
In 2012 the assets of the company were 11.2 % composed of fixed assets and 88.8 % by current assets. The assets are being financed by an equity of 36.36 %, and total debt of 63.64 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
48.457.000 |
46.392.000 |
35.416.000 |
27.683.000 |
37.044.000 |
|
Other operating income |
-2.000 |
9.663.000 |
-1.322.000 |
-4.791.000 |
-10.381.000 |
|
Net turnover |
48.459.000 |
36.729.000 |
36.738.000 |
32.474.000 |
47.425.000 |
|
Operating expenses |
46.930.000 |
48.910.000 |
37.259.000 |
29.534.000 |
37.599.000 |
|
Operating result |
1.527.000 |
-2.518.000 |
-1.843.000 |
-1.851.000 |
-555.000 |
|
Financial income |
244.000 |
244.000 |
323.000 |
386.000 |
293.000 |
|
Financial expenses |
427.000 |
448.000 |
339.000 |
328.000 |
325.000 |
|
Financial result |
-183.000 |
-204.000 |
-16.000 |
58.000 |
-32.000 |
|
Result on ordinary
operations before taxes |
1.344.000 |
-2.722.000 |
-1.859.000 |
-1.793.000 |
-587.000 |
|
Taxation on the
result of ordinary
activities |
351.000 |
-681.000 |
-471.000 |
-457.000 |
-127.000 |
|
Result of ordinary
activities after taxes |
993.000 |
-2.041.000 |
-1.388.000 |
-1.336.000 |
-460.000 |
|
Net result |
993.000 |
-2.041.000 |
-1.388.000 |
-1.336.000 |
-460.000 |
Summary
The turnover of the company grew with 31.94 % between 2012 and 2013.
The operating result of the company grew with 160.64 % 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 150.17 % of the analysed period, being equal to 5.85 in the year 2013.
This growth has contributed to the increase in assets turnover, increasing by 34.39 % reaching 2.11.
The Net Result of the company increased by 148.65 % 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 144.2 % of the analysed period, being 14.17 in the year 2013.
The company's financial structure has slowed down its financial profitability.
The turnover of the company remained the same between 2011 and 2012. The operating result of the company declined with -36.63 % 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 -29.27 % of the analysed period, being equal to -11.66 in the year 2012.
This fall has contributed to a asset turnover decrease, whose index evolved from -11.8 to a level of 1.57.
The Net Result of the company decreased by -47.05 % 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 -81.64 % of the analysed period, being -32.06 in the year 2012.
The company's financial profitability has been positively affected by its financial structure.
Analysis
|
Branch (SBI) |
Manufacture of machinery and equipment n.e.c. (SBI code 28) |
|
Region |
Veluwe |
|
Summary |
In the Netherlands 4630 of the companies are registered with the SBI
code 28 |
|
|
In the region Veluwe 238 of the companies are registered with the SBI
code 28 |
|
|
In the Netherlands 136 of the bankrupcties are published within this
sector |
|
|
In the region Veluwe 8 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 Veluwe is normal |
Publications
|
Deposits |
28-08-2014: De jaarrekening over 2013 is gepubliceerd. |
|
|
27-12-2012: De jaarrekening over 2011 is gepubliceerd. 02-02-2012: De jaarrekening over 2010 is gepubliceerd. 14-02-2011: De jaarrekening over 2009 is gepubliceerd. |
|
|
|
|
Functions |
26-11-2013: Per 22-11-2013 is bestuurder Jan Wallet uit functie
getreden. 26-11-2013: Per 22-11-2013 is bestuurder Jacobus Wilhelmus Maria
Remmerswaal uit functie getreden. 26-11-2013: Per 22-11-2013 is gevolmachtigde Jacobus Wilhelmus Maria
Remmerswaal in functie getreden. 26-11-2013: Per 22-11-2013 is gevolmachtigde Jan Wallet in functie
getreden. |
Company
structure
|
Relations |
10 |
|
Company |
Registration |
|
|
number |
|
Stichting
Administratiekantoor
Schaëfer (AMERSFOORT) |
56937903 |
|
| - -
Bronswerk Group B.V.
(NIJKERK GLD) |
56937679 |
|
| - -
| - -
Bronsw. Heat Transf.
Hld. B.V. (NIJKERK
GLD) |
08061356 |
|
| - -
| - - | -
- Bronswerk Heat
Transfer B.V. (Nijkerk) |
08022150 |
|
| - -
| - -
BHT Radiax Licensee
B.V. (NIJKERK GLD) |
56939752 |
|
| - -
| - -
BHT Whizz-Wheel Licensee
B.V. (NIJKERK GLD) |
56939221 |
|
| - -
| - -
Bronswerk Technology Group
B.V. (NIJKERK GLD) |
56938500 |
|
| - -
| - - | -
- Bronswerk/Radiax Technology
® B.V. (NIJKERK
GLD) |
32111700 |
|
| - -
| - - | -
- Bronswerk Whizz-Wheel
Technology B.V. (NIJKERK
GLD) |
32070033 |
|
| - -
| - - | -
- Bronswerk Klarex
Technology B.V. (NIJKERK
GLD) |
08059107 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.