MIRA INFORM REPORT
|
Report No. : |
343456 |
|
Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
AC ANALYTICAL CONTROLS B.V |
|
|
|
|
Registered Office : |
Innsbruckweg 35 3047AG
Rotterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
21.04.1980 |
|
|
|
|
Com. Reg. No.: |
24197331 |
|
|
|
|
Legal Form : |
Private company with common structure |
|
|
|
|
Line of Business : |
Manufacture of instruments for measuring, testing, navigation and controlling |
|
|
|
|
No. of Employees : |
55 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
Summary
Company name AC
Analytical Controls B.V.
Operative address Innsbruckweg 35
3047AG ROTTERDAM
Netherlands
Legal form Private company
with common structure
Registration number KvK-nummer:
24197331
VAT-number 005806240
|
Year |
2011 |
Mutation |
2010 |
Mutation |
2009 |
|
Fixed assets |
559.807 |
-5,78 |
594.165 |
27,68 |
465.352 |
|
Total receivables |
5.435.188 |
-18,21 |
6.645.187 |
15,48 |
5.754.253 |
|
Total equity |
6.317.141 |
-6,86 |
6.782.086 |
22,03 |
5.557.849 |
|
Short term liabilities |
3.530.679 |
-9,75 |
3.912.049 |
9,87 |
3.560.462 |
|
Net result |
2.007.697 |
64,00 |
1.224.237 |
49,79 |
817.319 |
|
Working capital |
6.490.797 |
-6,17 |
6.917.313 |
18,47 |
5.839.049 |
|
Quick ratio |
2,13 |
-6,17 |
2,27 |
11,27 |
2,04 |
Contact
information
Company name AC Analytical
Controls B.V.
Trade names AC Analytical
Controls B.V.
Operative address Innsbruckweg 35
3047AG ROTTERDAM
Netherlands
Correspondence address Postbus 10054
3004AB ROTTERDAM
Netherlands
Telephone number 010-4624811
Fax number 010 4626330
Email address acbv@analytical-controls.com
Website www.analytical-controls.com
Registration
Registration number KvK-nummer:
24197331
Registered in Kamer van
Koophandel Rotterdam
Branch number 000018176550
VAT-number 005806240
Status Active
First registration company register 1981-05-04
Memorandum 1981-05-04
Establishment date 1980-04-21
Legal form Private company
with common structure
Legal person since 1981-05-04
Last proposed admendment 1987-07-17
Issued placed capital EUR 399.326
Paid up share capital EUR 399.326
Activities
SBI 2651:
Manufacture of instruments for measuring, testing, navigation and controlling
Exporter No
Importer No
Goal Het
modificieren, fabriceren, verkopen en sup- porten van analyse- apparatuur entoebehoren
voor de internationale petrochemische markt.
Relations
Shareholders AC
Analytical Controls Holding B.V.
Innsbruckweg 35
3047AG Rotterdam
Netherlands
Registration number:
24251810
Percentage: 100%
Companies on same address AC
Analytical Controls Holding B.V.
Registration
number: 24251810
AC Analytical
Controls Services B.V.
Registration number:
24259093
Management
Active management AC
Analytical Controls Holding B.V.
Innsbruckweg 35
3047AG Rotterdam
Netherlands
Registration number:
24251810
Competence: Fully
authorized
Function: Manager
Starting date: 2005-12-28
E.J. Klok Evert Jan
Netherlands
Competence: Limited
authorization
Function: Vice president
Starting date: 2000-10-01
Date of birth: 1960-07-26,
Delft, NL
R. Moerlie Rambhawansing
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 1998-01-01
Date of birth: 1967-05-04,
district Suriname, SR
R.L. Vollering Raymond
Liduinus
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2008-07-28
Date of birth: 1978-12-09,
Schiedam, NL
V. Otten Vincent
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2010-09-01
Date of birth: 1976-04-15, Deventer, NL
Employees
Year 2015
2013 2012 2011 2010
Total 55
55 55 70 64
Payments
Description Payments are
made regularly no complaints are known
Key
figures
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
Quick
ratio |
2,13 |
2,27 |
2,04 |
1,49 |
1,11 |
|
|
|
|
|
|
|
|
Current
ratio |
2,84 |
2,77 |
2,64 |
2,04 |
1,54 |
|
|
|
|
|
|
|
|
Working
capital/ balance total |
0,61 |
0,61 |
0,59 |
0,49 |
0,34 |
|
Equity
/ balance total |
0,60 |
0,59 |
0,56 |
0,46 |
0,31 |
|
Equity
/ Fixed assets |
11,28 |
11,41 |
11,94 |
13,48 |
6,38 |
|
Equity
/ liabilities |
1,48 |
1,46 |
1,29 |
0,85 |
0,46 |
|
Balance
total / liabilities |
2,48 |
2,46 |
2,29 |
1,85 |
1,46 |
|
|
|
|
|
|
|
|
Working
capital |
6.490.797 |
6.917.313 |
5.839.049 |
5.095.962 |
3.494.332 |
|
|
|
|
|
|
|
|
Equity |
6.317.141 |
6.782.086 |
5.557.849 |
4.740.530 |
3.273.208 |
|
|
|
|
|
|
|
|
Mutation
equity |
-6,86 |
22,03 |
17,24 |
44,83 |
67,26 |
|
|
|
|
|
|
|
|
Mutation
short term liabilities |
-9,75 |
9,87 |
-27,26 |
-23,79 |
1,52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return
on total assets (ROA) |
26,00 |
13,85 |
11,64 |
18,85 |
12,60 |
|
|
|
|
|
|
|
|
Return
on equity (ROE) |
43,56 |
23,33 |
20,66 |
41,12 |
40,14 |
|
|
|
|
|
|
|
|
Gross
profit margin |
11,98 |
7,66 |
7,29 |
10,16 |
7,08 |
|
|
|
|
|
|
|
|
Net
profit margin |
8,78 |
6,04 |
4,87 |
7,35 |
4,99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
collection ratio |
6,48 |
5,18 |
4,71 |
4,08 |
3,06 |
|
|
|
|
|
|
|
|
Average
payment ratio |
4,21 |
3,05 |
2,92 |
5,00 |
3,82 |
|
|
|
|
|
|
|
|
Equity
turnover ratio |
3,62 |
2,99 |
3,02 |
4,21 |
6,01 |
|
|
|
|
|
|
|
|
Total
assets turnover ratio |
2,16 |
1,77 |
1,70 |
1,93 |
1,89 |
|
|
|
|
|
|
|
|
Fixed
assets turnover ratio |
40,85 |
34,12 |
36,06 |
56,76 |
38,32 |
|
|
|
|
|
|
|
|
Inventory
conversion ratio |
9,09 |
10,45 |
7,88 |
7,44 |
7,13 |
|
|
|
|
|
|
|
|
Turnover |
22.867.313 |
20.272.670 |
16.779.023 |
19.963.143 |
19.672.459 |
|
|
|
|
|
|
|
|
Gross
margin |
11.035.029 |
9.233.567 |
8.404.332 |
9.829.970 |
9.221.944 |
|
|
|
|
|
|
|
|
Operating
result |
2.740.204 |
1.553.140 |
1.223.137 |
2.028.652 |
1.392.460 |
|
Net
result after taxes |
2.007.697 |
1.224.237 |
817.319 |
1.467.322 |
981.435 |
|
Cashflow |
2.215.785 |
1.414.984 |
973.540 |
1.748.723 |
1.281.974 |
|
EBIT |
2.740.204 |
1.553.140 |
1.223.137 |
2.028.652 |
1.392.460 |
|
EBITDA |
2.948.292 |
1.743.887 |
1.379.358 |
2.310.053 |
1.692.999 |
Summary The 2011 financial
result structure is a postive working captial of 6.490.797 euro, which is in
agreement with 61 % of the total assets of the company.
The working capital has
diminished with -6.17 % compared to previous year. The ratio with respect to
the total assets of the company remains unchanged.
The deterioration between
2010 and 2011 has mainly been caused by a reduction of the current assets.
The current ratio of the
company in 2011 was 2.84. A company with a current ratio between 1.5 and 3.0
generally indicates good short-term financial strength.
The quick ratio in 2011 of
the company was 2.13. A company with a Quick Ratio of more than 1 can currently
pay back its current liabilities.
The 2010 financial result
structure is a postive working captial of 6.917.313 euro, which is in agreement
with 61 % of the total assets of the company.
The working capital has
increased with 18.47 % compared to previous year. The ratio, with respect to
the total assets of the company has however, increased.
The improvement between
2009 and 2010 has mainly been caused by an increase of the current assets.
The current ratio of the
company in 2010 was 2.77. A company with a current ratio between 1.5 and 3.0
generally indicates good short-term financial strength.
The quick ratio in 2010 of
the company was 2.27. A company with a Quick Ratio of more than 1 can currently
pay back its current liabilities.
Financial
statement
Last annual account 2011
Remark annual account There is no
financial data published
Type of annual account Corporate
Annual account AC
Analytical Controls B.V.
Innsbruckweg 35
3047AG ROTTERDAM
Netherlands
Registration number: 24197331
Balance
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
End
date |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
Intangible fixed assets |
307.293 |
359.957 |
300.644 |
163.499 |
283.742 |
|
Tangible fixed assets |
252.514 |
234.208 |
164.708 |
188.240 |
229.633 |
|
Fixed assets |
559.807 |
594.165 |
465.352 |
351.739 |
513.375 |
|
|
|
|
|
|
|
|
Total stock |
2.515.690 |
1.939.164 |
2.130.008 |
2.682.774 |
2.758.476 |
|
Accounts
receivable |
3.324.159 |
4.404.564 |
3.692.817 |
3.819.276 |
4.951.535 |
|
|
|
|
|
|
|
|
Other
receivables |
2.111.029 |
2.240.623 |
2.061.436 |
174.892 |
198.873 |
|
|
|
|
|
|
|
|
Total receivables |
5.435.188 |
6.645.187 |
5.754.253 |
3.994.168 |
5.150.408 |
|
Liquid
funds |
2.070.598 |
2.245.011 |
1.515.250 |
3.313.677 |
2.007.802 |
|
|
|
|
|
|
|
|
Current assets |
10.021.476 |
10.829.362 |
9.399.511 |
9.990.619 |
9.916.686 |
|
Total assets |
10.581.283 |
11.423.527 |
9.864.863 |
10.342.358 |
10.430.061 |
|
|
|
|
|
|
|
|
Issued capital |
399.327 |
399.327 |
399.327 |
399.327 |
399.327 |
|
Share
premium reserve |
1.734.983 |
1.734.983 |
1.734.983 |
1.734.983 |
1.734.983 |
|
|
|
|
|
|
|
|
Other
reserves |
2.175.134 |
3.423.539 |
2.606.220 |
1.138.898 |
157.463 |
|
|
|
|
|
|
|
|
Non-distributable
profit |
2.007.697 |
1.224.237 |
817.319 |
1.467.322 |
981.435 |
|
|
|
|
|
|
|
|
Total reserves |
5.917.814 |
6.382.759 |
5.158.522 |
4.341.203 |
2.873.881 |
|
Total equity |
6.317.141 |
6.782.086 |
5.557.849 |
4.740.530 |
3.273.208 |
|
|
|
|
|
|
|
|
Provisions |
77.564 |
73.493 |
90.653 |
51.272 |
78.600 |
|
|
|
|
|
|
|
|
Financial
debts |
655.899 |
655.899 |
655.899 |
655.899 |
655.899 |
|
|
|
|
|
|
|
|
Long term liabilities |
655.899 |
655.899 |
655.899 |
655.899 |
655.899 |
|
Accounts
payable |
775.546 |
1.221.891 |
726.391 |
1.332.259 |
2.533.134 |
|
|
|
|
|
|
|
|
Other
short term liabilities |
2.755.133 |
2.690.158 |
2.834.071 |
3.562.398 |
3.889.220 |
|
|
|
|
|
|
|
|
Short term liabilities |
3.530.679 |
3.912.049 |
3.560.462 |
4.894.657 |
6.422.354 |
|
Total short and long term liabilities |
4.264.142 |
4.641.441 |
4.307.014 |
5.601.828 |
7.156.853 |
|
Total liabilities |
10.581.283 |
11.423.527 |
9.864.863 |
10.342.358 |
10.430.061 |
Summary The total
assets of the company decreased with -7.37 % between 2010 and 2011.
This total assets decrease
has been reflected in a reduction of non current assets of -5.78 %.
Assets reduction is
explained by a Net Worth decrease of -6.86 %, and an indebtedness reduction of
-8.13 %.
In 2011 the assets of the
company were 5.29 % composed of fixed assets and 94.71 % by current assets. The
assets are being financed by an equity of 59.7 %, and total debt of 40.3%.
The total assets of the
company increased with 15.8 % between 2009 and 2010.
The total asset increase is
retrievable in the fixed asset growth of 27.68 %.
The asset growth has mainly
been financed by a Net Worth increase of 22.03 %. Debt, however, grew with 7.76
%.
In 2010 the assets of the
company were 5.2 % composed of fixed assets and 94.8 % by current assets. The
assets are being financed by an equity of 59.37 %, and total debt of 40.63 %.
Profit and
loss
|
Year |
|
2011 |
2010 |
2009 |
2008 |
2007 |
|
Revenues |
22.867.313 |
20.272.670 |
16.779.023 |
19.963.143 |
19.672.459 |
|
|
|
|
|
|
|
|
|
|
Net turnover |
22.867.313 |
20.272.670 |
16.779.023 |
19.963.143 |
19.672.459 |
|
|
|
|
|
|
|
|
|
|
Gross margin |
11.035.029 |
9.233.567 |
8.404.332 |
9.829.970 |
9.221.944 |
|
|
|
|
|
|
|
|
|
|
Wages and salaries |
4.159.039 |
3.716.926 |
3.536.218 |
2.834.334 |
3.550.818 |
|
|
|
|
|
|
|
|
|
|
Amorization
and depreciation |
208.088 |
190.747 |
156.221 |
281.401 |
300.539 |
|
|
|
|
|
|
|
|
|
|
Sales |
11.832.284 |
11.039.103 |
8.374.691 |
10.133.173 |
10.450.515 |
|
|
|
|
|
|
|
|
|
|
other
operating costs |
3.927.698 |
3.772.754 |
3.488.756 |
4.685.583 |
3.978.127 |
|
|
|
|
|
|
|
|
|
|
Operating expenses |
20.127.109 |
18.719.530 |
15.555.886 |
17.934.491 |
18.279.999 |
|
|
|
|
|
|
|
|
|
|
Operating result |
2.740.204 |
1.553.140 |
1.223.137 |
2.028.652 |
1.392.460 |
|
|
|
|
|
|
|
|
|
|
Financial income |
14.137 |
29.415 |
13.103 |
13.556 |
|
|
|
|
|
|
|
|
|
|
|
Financial expenses |
2.730 |
|
87.795 |
92.951 |
78.648 |
|
|
|
|
|
|
|
|
|
|
Financial result |
11.407 |
29.415 |
-74.692 |
-79.395 |
-78.648 |
|
|
|
|
|
|
|
|
|
|
Result on ordinary operations before taxes |
2.751.611 |
1.582.555 |
1.148.445 |
1.949.257 |
1.313.812 |
|
|
Taxation on the result of ordinary activities |
743.914 |
358.318 |
331.126 |
481.935 |
332.377 |
|
|
Result of ordinary activities after taxes |
2.007.697 |
1.224.237 |
817.319 |
1.467.322 |
981.435 |
|
|
|
|
|
|
|
|
|
|
Net result |
2.007.697 |
1.224.237 |
817.319 |
1.467.322 |
981.435 |
|
Summary The turnover of
the company grew with 12.8 % between 2010 and 2011.
The gross profit of the
company grew with 19.51 % between 2010 and 2011.
The operating result of the
company grew with 76.43 % 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 87.73% of the
analysed period, being equal to 2010 % in the year 2011.
This growth has contributed
to the increase in assets turnover, increasing by 22.03 % reaching 2.16.
The Net Result of the
company decreased by 64 % between 2010 and 2011.
The company's Financial
Profitability has been positively affected by the financial activities in
comparison to the EBITs behaviour. The result of these variations is a
profitability increase of 86.71 % of the analysed period, being 43.56 % in the
year 2011.
The company's financial
structure has slowed down its financial profitability.
The turnover of the company
grew with 20.82 % between 2009 and 2010.
The gross profit of the
company grew with 9.87 % between 2009 and 2010.
The operating result of the
company grew with 26.98 % between 2009 and 2010. 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 18.99 % of the
analysed period, being equal to 2009 % in the year 2010.
This growth has contributed
to the increase in assets turnover, increasing by 4.12 % reaching 1.77.
The Net Result of the
company decreased by 49.79 % between 2009 and 2010.
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 12.92 % of the analysed period, being 23.33 % in the
year 2010.
The company's financial structure has slowed down
its financial profitability.
Analysis
Branch (SBI) Manufacture of
computers, electronic and optical products (SBI code 26)
Region Groot Rotterdam
Summary In the
Netherlands 2264 of the companies are registered with the SBI code 26
In the region Groot
Rotterdam 133 of the companies are registered with the SBI code 26
In the
Netherlands 54 of the bankrupcties are published within this sector
In the region Groot
Rotterdam 6 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 Rotterdam is normal
Publications
Deposits 28-08-2012: De
jaarrekening over 2011 is gepubliceerd.
28-03-2012: De jaarrekening
over 2010 is gepubliceerd.
04-01-2012: De jaarrekening
over 2009 is gepubliceerd.
04-01-2012: De jaarrekening
over 2009 is gepubliceerd.
21-02-2011: De jaarrekening
over 2007 is gepubliceerd.
21-02-2011: De jaarrekening over 2008 is
gepubliceerd.
Company
structure
Relations 8
Company Registration
number
Roper Scientific SAS (91017 Evry)
| - - Roper Scientific B.V. (ZWANENBURG) 30127805
| - - | - - AC Analytical Controls Holding B.V. (Rotterdam) 24251810
| - - | - - | - - AC Analytical Controls B.V. (ROTTERDAM) 24197331
| - - | - - | - - AC Analytical Controls Services B.V. (ROTTERDAM)
24259093
| - - | - - Compressor Contr. Corp. B.V. (ZWANENBURG) 34145176
| - - | - - Sinmed Holding International B.V. (ROTTERDAM) 29046105
| - - | - - | - - CIVCO Medical Solutions B.V. (ROTTERDAM) 24376183
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
UK Pound |
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.