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Report No. : |
344368 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TROUW NUTRITION POLSKA SP. Z O.O. |
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|
|
|
Formerly Known As : |
HENDRIX SP. Z O.O. |
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|
|
|
Registered Office : |
Ul. Chrzanowska 21/25 05-825 Grodzisk Mazowiecki |
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|
|
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Country : |
Poland |
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|
|
Financials (as on) : |
31.12.2014 |
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|
|
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Date of Incorporation : |
14.07.1994 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
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|
|
No. of Employees : |
188 Employees (2013) |
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 : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Poland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
POLAND - ECONOMIC OVERVIEW
Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the EU to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average. The unemployment rate is now below the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances and adopting controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2013 and picked back up in 2014. Short-term, the key policy challenge will be to consolidate debt and spending without stifling economic growth. Over the longer term, Poland's economic performance could improve if the country addresses some of the remaining deficiencies in its road and rail infrastructure, business environment, rigid labor code, commercial court system, government red tape, and burdensome tax system, especially for entrepreneurs. Poland’s long-term challenges include diversifying Poland’s energy mix and sources of supply, as well as stemming the outflow of educated young Poles to other EU Member States, especially in light of a coming demographic contraction as the Solidarity-era baby boom generation ages.
|
Source
: CIA |
|
TROUW NUTRITION
POLSKA Sp. z o.o. |
|
|
|
ul. Chrzanowska
21/25 |
|
Phone: 22 7550200 |
|
Fax: 22 7550201 |
|
E-mail: TN.polska@nutreco.com |
|
Website: www.trouwnutrition.pl |
|
|
|
Legal form |
Limited liability company |
|
Stat.no. |
010762423 |
|
Tax ID |
PL 5271004320 |
|
|
|
|
Establishment |
14.07.1994 |
|
Changes of names and addresses |
HENDRIX Sp. z o.o. |
|
|
then TROUW NUTRITION POLSKA Sp. z o.o. |
|
|
|
|
Registration: |
01.02.2002, District
Court Warszawa, XIV Department, KRS 86476 |
|
Shareholders |
Nutreco International B.V., Veerstraat 38, 5831JN Boxmeer, Netherlands |
PLN |
23 860 500,00 |
|
|
|
|
|
|
|
Nutreco Investments B.V., Prins Frederiklaan 4, 3818KC Amersfoort , Netherlands |
PLN |
100 000,00 |
|
|
|
|
|
|
|
list prepared on 04.10.2013 |
|
|
|
Initial Capital |
|
PLN 23 960 500,00 |
|
|
|
Initial capital divided into 47921 shares of PLN 500,00 each |
|
|
|
|
Changes of initial capital |
|
|
|
|
- since 01.02.2002 until 22.01.2008 the capital estimated |
PLN 10 960 500,00 |
|
|
|
An in-kind contribution has been made and valued at |
PLN 10 860 500,00 |
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|
|
|
|
|
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Management |
Marcin Andrzej Galiński , personal ID no. (PESEL)
71060603674 |
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||
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Representation: |
||
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||
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Main activity |
Manufacture and sale of feed for farm animals and raw materials for animal feed production |
|
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Branches NACE 2007: |
|
|
|
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Manufacture of prepared feeds for farm animals |
(C.10.91.Z) |
|
|
|
Manufacture of prepared pet foods |
(C.10.92.Z) |
|
|
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Wholesale of grain, unmanufactured tobacco, seeds and animal feeds |
(G.46.21.Z) |
|
|
|
|
|
|
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Employment |
2007:
140
employees |
||
|
|
|
||
|
Turnover |
2010 |
PLN |
271 590 700,00 |
|
|
2011 |
PLN |
290 529 100,00 |
|
|
2012 |
PLN |
297 829 600,00 |
|
|
2013 |
PLN |
311 144 100,00 |
|
|
2014 |
PLN |
300 981 700,00 |
|
Source of financial data |
Court |
Court |
Court |
Monitor Polski B |
|
|
annual |
annual |
annual |
annual |
|
Personal balance sheet as at |
31.12.2014 |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
-A. Fixed assets...................... |
34 268 400,00 |
29 983 000,00 |
31 615 100,00 |
33 840 100,00 |
|
- I. Intangible assets............. |
2 485 400,00 |
438 100,00 |
745 500,00 |
1 377 900,00 |
|
- 3. Other intangible assets....... |
2 485 400,00 |
438 100,00 |
745 500,00 |
1 377 900,00 |
|
- II. Tangible assets............... |
29 546 700,00 |
28 128 600,00 |
29 433 800,00 |
31 005 200,00 |
|
- 1. Fixed goods................... |
26 670 600,00 |
27 799 800,00 |
29 417 800,00 |
31 005 200,00 |
|
- a) land........................ |
564 600,00 |
590 700,00 |
616 800,00 |
642 900,00 |
|
- b) buildings, premises, |
21 746 600,00 |
22 449 200,00 |
23 386 800,00 |
24 281 600,00 |
|
- c) machinery and equipment..... |
3 639 800,00 |
4 323 800,00 |
4 982 600,00 |
5 732 300,00 |
|
- d) fleet of motor vehicles..... |
415 800,00 |
352 600,00 |
341 100,00 |
234 900,00 |
|
- e) other fixed goods........... |
303 800,00 |
83 500,00 |
90 500,00 |
113 500,00 |
|
- 2. Fixed goods under |
2 450 200,00 |
293 800,00 |
16 000,00 |
|
|
- 3. Prepayments for fixed goods |
425 900,00 |
35 000,00 |
|
|
|
-V. Long-term prepayments and |
2 236 300,00 |
1 416 300,00 |
1 435 800,00 |
1 457 000,00 |
|
- 1. Deferred tax assets............. |
2 236 300,00 |
1 416 300,00 |
1 435 800,00 |
1 457 000,00 |
|
-B. Current assets.................... |
88 704 400,00 |
83 965 000,00 |
75 816 500,00 |
74 548 500,00 |
|
- I. Stock......................... |
17 833 800,00 |
15 905 500,00 |
17 482 300,00 |
16 736 500,00 |
|
- 1. Raw materials................. |
13 932 500,00 |
12 533 200,00 |
13 830 500,00 |
13 415 100,00 |
|
- 2. Semi-finished products and |
2 796 000,00 |
2 538 400,00 |
|
2 548 100,00 |
|
- 3. Finished products............. |
|
|
2 929 600,00 |
|
|
- 4. Goods for re-sale............. |
1 105 300,00 |
833 900,00 |
722 200,00 |
773 300,00 |
|
- II. Short-term receivables......... |
37 973 600,00 |
33 354 500,00 |
32 883 400,00 |
33 083 300,00 |
|
- 1. Receivables from affiliated |
2 642 500,00 |
1 781 900,00 |
1 729 800,00 |
2 989 400,00 |
|
- a) Due to deliveries and |
2 642 500,00 |
1 781 900,00 |
1 729 800,00 |
2 989 400,00 |
|
- - up to 12 months............ |
2 642 500,00 |
|
|
|
|
- 2. Other receivables ............ |
35 331 100,00 |
31 572 600,00 |
31 153 600,00 |
30 093 900,00 |
|
- a) Due to deliveries and |
33 459 500,00 |
31 162 400,00 |
30 043 500,00 |
28 770 200,00 |
|
- b) Due to taxes, subsidies, |
1 113 700,00 |
21 400,00 |
528 300,00 |
583 200,00 |
|
- c) Other....................... |
757 900,00 |
388 800,00 |
581 800,00 |
740 500,00 |
|
- III. Short term investments........ |
29 487 100,00 |
31 347 400,00 |
22 923 600,00 |
23 861 200,00 |
|
- 1. Short-term financial assets... |
29 487 100,00 |
31 347 400,00 |
22 923 600,00 |
23 861 200,00 |
|
- a) in affiliated companies..... |
14 681 300,00 |
20 736 000,00 |
12 266 100,00 |
|
|
- b) Other....................... |
|
|
|
8 833 600,00 |
|
- c) cash and other liquid |
14 805 800,00 |
10 611 400,00 |
10 657 500,00 |
15 027 600,00 |
|
-IV. Short-term prepayments and |
3 409 900,00 |
3 357 600,00 |
2 527 200,00 |
867 500,00 |
|
-D. Total assets...................... |
122 972 800,00 |
113 948 000,00 |
107 431 600,00 |
108 388 600,00 |
|
-A. Shareholders' equity.............. |
64 363 800,00 |
64 969 900,00 |
59 127 600,00 |
59 011 300,00 |
|
- I. Basic share capital........... |
23 960 500,00 |
23 960 500,00 |
23 960 500,00 |
23 960 500,00 |
|
- IV. Statutory reserve capital..... |
26 725 000,00 |
26 725 000,00 |
26 725 000,00 |
26 725 000,00 |
|
- VIII. Net profit (loss)............ |
13 678 300,00 |
14 284 400,00 |
8 442 100,00 |
8 325 800,00 |
|
-B. Liabilities and reserves for |
58 609 000,00 |
48 978 100,00 |
48 304 000,00 |
49 377 300,00 |
|
- I. Reserves for liabilities...... |
1 911 900,00 |
945 900,00 |
752 000,00 |
541 000,00 |
|
- 1. Deferred income tax reserves.. |
225 900,00 |
75 900,00 |
77 000,00 |
274 000,00 |
|
- 2. Reserves for pensions and |
946 000,00 |
745 000,00 |
675 000,00 |
267 000,00 |
|
- - long-term.................... |
867 000,00 |
683 000,00 |
557 000,00 |
|
|
- - short-term................... |
79 000,00 |
62 000,00 |
118 000,00 |
|
|
- 3. Other reserves................ |
740 000,00 |
125 000,00 |
|
|
|
- - short-term................... |
740 000,00 |
125 000,00 |
|
|
|
-III. Short-term liabilities.......... |
48 112 200,00 |
41 739 200,00 |
41 815 000,00 |
43 177 300,00 |
|
- 1. Due to affiliated companies..... |
8 858 100,00 |
7 736 200,00 |
10 720 700,00 |
10 692 600,00 |
|
- a) Due to deliveries and |
8 858 100,00 |
7 736 200,00 |
10 720 700,00 |
10 692 600,00 |
|
- - up to 12 months.............. |
|
7 736 200,00 |
10 720 700,00 |
|
|
- 2. Other liabilities............... |
39 078 800,00 |
33 777 900,00 |
30 895 900,00 |
32 329 300,00 |
|
- d)Due to deliveries and |
35 225 600,00 |
33 284 000,00 |
30 357 000,00 |
31 791 600,00 |
|
- - up to 12 months.............. |
|
33 284 000,00 |
|
|
|
- g) Due to taxes, subsidies, |
3 853 200,00 |
493 900,00 |
464 200,00 |
463 300,00 |
|
- i) Other......................... |
|
|
74 700,00 |
74 400,00 |
|
- 3. Special funds................... |
175 300,00 |
225 100,00 |
198 400,00 |
155 400,00 |
|
-IV. Accruals and deferred income.... |
8 584 900,00 |
6 293 000,00 |
5 737 000,00 |
5 659 000,00 |
|
- 2. Other accruals.................. |
8 584 900,00 |
6 293 000,00 |
5 737 000,00 |
5 659 000,00 |
|
- - short-term..................... |
8 584 900,00 |
6 293 000,00 |
5 737 000,00 |
5 659 000,00 |
|
-D. Total liabilities................. |
122 972 800,00 |
113 948 000,00 |
107 431 600,00 |
108 388 600,00 |
|
|
|
|
|
|
|
Source of financial data |
Court |
Court |
Court |
Monitor Polski B |
|
|
annual |
annual |
annual |
annual |
|
individual PROFIT AND LOSS ACCOUNT |
01.01.2014- |
01.01.2013- |
01.01.2012- |
01.01.2011- |
|
-A. Income from sales and similar..... |
300 981 700,00 |
311 144 100,00 |
297 829 600,00 |
290 529 100,00 |
|
- - including related companies...... |
19 702 200,00 |
20 125 500,00 |
17 779 500,00 |
22 083 200,00 |
|
- I. Net income on sales........... |
218 594 000,00 |
228 786 700,00 |
208 766 100,00 |
194 044 100,00 |
|
- II. Change in value of stock ( |
240 400,00 |
-391 200,00 |
381 500,00 |
743 000,00 |
|
- IV. Income from sales of goods |
82 147 300,00 |
82 748 600,00 |
88 682 000,00 |
95 742 000,00 |
|
-B. Operational costs................. |
286 911 800,00 |
296 453 200,00 |
288 281 500,00 |
285 289 900,00 |
|
- I. Depreciation.................. |
2 262 300,00 |
2 267 800,00 |
2 629 800,00 |
2 624 700,00 |
|
- II. Materials and energy.......... |
162 891 900,00 |
175 678 800,00 |
160 938 300,00 |
152 925 600,00 |
|
- III. Third party services.......... |
25 858 400,00 |
20 829 800,00 |
19 020 600,00 |
19 395 500,00 |
|
- IV. Taxes and duties.............. |
1 597 100,00 |
1 649 400,00 |
1 480 500,00 |
1 479 100,00 |
|
- V. Salaries and wages............ |
16 731 600,00 |
15 709 400,00 |
14 364 900,00 |
14 901 600,00 |
|
- VI. Social security............... |
3 999 300,00 |
3 759 200,00 |
3 672 100,00 |
3 605 900,00 |
|
- VII. Other......................... |
4 740 200,00 |
4 350 800,00 |
3 985 300,00 |
4 075 500,00 |
|
- VIII.Costs of goods and materials |
68 831 000,00 |
72 208 000,00 |
82 190 000,00 |
86 282 000,00 |
|
-C. Profit on sale.................... |
14 069 900,00 |
14 690 900,00 |
9 548 100,00 |
5 239 200,00 |
|
-D. Other operating incomes........... |
3 922 400,00 |
3 780 800,00 |
3 497 400,00 |
4 408 900,00 |
|
- I. Incomes from disposal |
|
35 200,00 |
12 600,00 |
101 700,00 |
|
- III. Other operating incomes....... |
3 922 400,00 |
3 745 600,00 |
3 484 800,00 |
4 307 200,00 |
|
-E. Other operating costs............. |
816 300,00 |
447 500,00 |
152 000,00 |
46 900,00 |
|
- I. Loss on disposal of |
23 700,00 |
9 900,00 |
|
40 000,00 |
|
- II. Goodwill revaluation.......... |
788 600,00 |
299 500,00 |
144 700,00 |
|
|
- III. Other operating costs......... |
4 000,00 |
138 100,00 |
7 300,00 |
6 900,00 |
|
-F. Profit on operating activities.... |
17 176 000,00 |
18 024 200,00 |
12 893 500,00 |
9 601 200,00 |
|
-G. Financial incomes................. |
204 300,00 |
160 600,00 |
245 800,00 |
1 149 400,00 |
|
- I. Dividends received............ |
|
|
|
1 097 600,00 |
|
- - including dividends to group |
|
|
|
3 100,00 |
|
- II. Interest received............. |
204 300,00 |
160 600,00 |
245 800,00 |
|
|
- - including related companies.... |
|
|
600,00 |
|
|
- V. Other......................... |
|
|
|
51 800,00 |
|
-H. Financial costs................... |
140 900,00 |
280 700,00 |
2 370 900,00 |
11 500,00 |
|
- I. Interest...................... |
6 000,00 |
3 500,00 |
9 900,00 |
11 500,00 |
|
- - related companies.............. |
|
|
|
3 700,00 |
|
- IV. Other......................... |
134 900,00 |
277 200,00 |
2 361 000,00 |
|
|
-I. Profit on economic activity....... |
17 239 400,00 |
17 904 100,00 |
10 768 400,00 |
10 739 100,00 |
|
-K. Gross profit...................... |
17 239 400,00 |
|
10 768 400,00 |
10 739 100,00 |
|
-L. Corporation tax................... |
3 561 100,00 |
|
2 326 300,00 |
2 413 300,00 |
|
-N. Net profit........................ |
13 678 300,00 |
14 284 400,00 |
8 442 100,00 |
8 325 800,00 |
|
|
|
|
|
|
|
AUDITOR |
|
||||
|
|||||
|
Expert auditor Małgorzata Wilczek |
No. 12686 |
||||
|
|
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||||
|
|||||
|
Expert auditor Gabriela Glonek |
No. 11264 |
||||
|
Ratios |
01.01.2014- |
01.01.2013- |
01.01.2012- |
01.01.2011- |
|
|
Current ratio |
1,84 |
2,01 |
1,81 |
1,73 |
|
|
Quick ratio |
1,40 |
1,55 |
1,33 |
1,32 |
|
|
Immediate ratio |
0,31 |
0,25 |
0,25 |
0,35 |
|
|
Return on sale |
4,54 |
4,59 |
2,84 |
2,87 |
|
|
Return on assets |
11,12 |
12,54 |
7,86 |
7,68 |
|
|
Return on equity |
21,25 |
21,99 |
14,28 |
14,11 |
|
|
Average trade debtors' days |
46,05 |
39,08 |
40,46 |
41,67 |
|
|
Average stock turnover's days |
21,63 |
18,64 |
21,51 |
21,08 |
|
|
average payables payment period |
58,35 |
48,90 |
51,45 |
54,38 |
|
|
Total indebtedness ratio |
47,66 |
42,98 |
44,96 |
45,56 |
|
|
|
|
|
|
|
|
|
While rating the
company, it is advisable |
|||||
|
(C.10.91.Z - NACE 2007), as at : |
31.12.2014 |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
Current ratio............................ |
2,05 |
1,90 |
1,66 |
1,42 |
|
|
Quick ratio.............................. |
1,38 |
1,32 |
1,10 |
1,02 |
|
|
Immediate ratio.......................... |
0,30 |
0,26 |
0,17 |
0,21 |
|
|
Return on sale........................... |
3,04 |
3,31 |
1,77 |
2,49 |
|
|
Return on assets......................... |
6,79 |
8,06 |
3,84 |
5,80 |
|
|
Return on equity......................... |
11,59 |
13,97 |
7,05 |
11,00 |
|
|
Average trade debtors' days.............. |
49,74 |
48,81 |
51,61 |
49,56 |
|
|
Average stock turnover's days............ |
31,09 |
26,60 |
33,21 |
23,73 |
|
|
average payables payment period.......... |
47,76 |
47,10 |
60,54 |
61,61 |
|
|
Total indebtedness ratio................. |
41,41 |
42,29 |
45,48 |
47,26 |
|
|
Percent share in the examinated group |
96,70 |
92,90 |
77,80 |
92,90 |
|
|
Sales/revenue per employee in th. PLN.... |
2 037,53 |
2 141,95 |
2 192,35 |
1 891,62 |
|
|
Average sales/revenue per company in |
419 459,87 |
432 521,61 |
440 662,85 |
368 797,89 |
|
|
|
|
|
|
|
|
|
according to the Central Statistical Office |
|||||
|
Locations: |
seat: |
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|
|
|
Real Estate |
Verification of information on real estate ownership position through the Real Estate Register is not covered by the standard report. |
|
|
|
|
Means of transport |
As at 31.12.2014 book value of car fleet was: PLN 415 800,00 |
|
|
|
|
Shares in other companies |
As at 18.09.2015 there are no shares in other companies. |
|
|
|
|
Connections: |
As at 18.09.2015 there are no relations. |
|
Taking overs |
13.02.2002 (Entry date)
- merger |
|
|
|
|
Certificates: |
HACCP |
|
|
|
|
Contractors |
AGROLOK Sp. z o.o., ul. Dworcowa 4, 87-400 Golub-Dobrzyń |
|
|
|
|
General information |
The subject has not decided to cooperate in elaboration of the report. |
|
|
|
|
Banks |
RABOBANK POLSKA SA
Centrala (20000004) |
|
Payment Manner |
Nothing detrimental noted. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.