MIRA
INFORM REPORT
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Report No. : |
345709 |
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Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Beiraweg 15 1047HN |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.05.1999 |
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Com. Reg. No.: |
KvK-nummer: 34115326 |
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Legal Form : |
Private company with common structure |
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Line of Business : |
Wholesale of furnishing textiles and floor coverings. |
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No. of Employee : |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
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Netherlands |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 Riviera
Groothandel B.V.
Operative
address Beiraweg 15
1047HN AMSTERDAM
Netherlands
Legal
form Private
company with common structure
Registration
number KvK-nummer: 34115326
VAT-number
808256713
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
476.561 |
46,55 |
325.185 |
-19,78 |
405.384 |
|
Total receivables |
9.751.767 |
31,53 |
7.414.231 |
82,08 |
4.071.870 |
|
Total equity |
10.793.551 |
|
9.205.497 |
|
4.606.096 |
|
Short term liabilities |
5.602.837 |
62,16 |
3.455.161 |
-59,62 |
8.557.450 |
|
Net result |
4.288.054 |
-6,77 |
4.599.401 |
203,29 |
1.516.513 |
|
Working capital |
10.389.913 |
16,41 |
8.925.234 |
109,54 |
4.259.378 |
|
Quick ratio |
1,74 |
-20,91 |
2,20 |
171,60 |
0,81 |
Contact information
Company
name Riviera Groothandel B.V.
Trade
names RVR Imports
Riviera Groothandel B.V.
Operative
address Beiraweg 15
1047HN AMSTERDAM
Netherlands
Correspondence
address Beiraweg 15
1047HN AMSTERDAM
Netherlands
Telephone
number 020-7232000
Fax
number 0297239101
Email
address info@riviera-maison.nl
Registration
Registration
number KvK-nummer: 34115326
Branch
number 000016893506
VAT-number
808256713
Status
Active
First
registration company
register
1999-05-10
Memorandum
1999-05-10
Establishment
date 1999-05-10
Legal
form Private
company with common structure
Issued
placed capital EUR 18.151
Paid
up share capital EUR 18.151
Activities
SBI
46472: Wholesale of
furnishing textiles and floor coverings
Exporter
No
Importer No
Goal
Groothandel in
woondecoratie, bloemen en planten
Relations
Shareholders
Riviera Holding
B.V.
Beiraweg 15
1047HN AMSTERDAM
Netherlands
Registration number: 34114008
Percentage: 100%
Companies
on same address Riviera Holding B.V.
Registration number: 34114008
Riviera Maison B.V.
Registration number: 34115327
Management
Active
management Riviera Holding
B.V.
Beiraweg 15
1047HN AMSTERDAM
Netherlands
Registration number: 34114008
Competence: Fully authorized
Function: Manager
Starting date:
1999-05-10
Employees
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
11 |
104 |
100 |
96 |
84 |
Key figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
1,74 |
2,20 |
0,81 |
0,63 |
0,92 |
|
Current ratio |
2,85 |
3,58 |
1,50 |
1,39 |
1,33 |
|
Working capital/ balance
total |
0,63 |
0,70 |
0,32 |
0,27 |
0,24 |
|
Equity / balance
total |
0,66 |
0,72 |
0,35 |
0,30 |
0,27 |
|
Equity / Fixed
assets |
22,65 |
28,31 |
11,36 |
10,55 |
9,31 |
|
Equity / liabilities |
1,90 |
2,63 |
0,53 |
0,43 |
0,37 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Balance total /
liabilities |
2,90 |
3,63 |
1,53 |
1,43 |
1,37 |
|
Working capital |
10.389.913 |
8.925.234 |
4.259.378 |
2.818.657 |
3.270.355 |
|
Equity |
10.793.551 |
9.205.497 |
4.606.096 |
3.089.583 |
3.645.319 |
|
Mutation equity |
17,25 |
99,85 |
49,08 |
-15,25 |
125,33 |
|
Mutation short term
liabilities |
62,16 |
-59,62 |
19,07 |
-27,57 |
236,92 |
|
Return on total
assets (ROA) |
33,59 |
45,82 |
15,16 |
41,02 |
17,58 |
|
Return on equity
(ROE) |
51,25 |
63,25 |
43,52 |
136,74 |
65,53 |
|
Gross margin |
20.861.095 |
20.848.078 |
17.522.351 |
18.606.325 |
14.535.740 |
|
Operating result |
5.872.351 |
5.884.941 |
2.336.143 |
5.089.994 |
2.794.212 |
|
Net result after
taxes |
4.288.054 |
4.599.401 |
1.516.513 |
3.155.555 |
1.784.706 |
|
Cashflow |
4.418.997 |
4.729.614 |
1.629.417 |
3.291.758 |
1.981.730 |
|
EBIT |
5.872.351 |
5.884.941 |
2.336.143 |
5.089.994 |
2.794.212 |
|
EBITDA |
6.003.294 |
6.015.154 |
2.449.047 |
5.226.197 |
2.991.236 |
Summary The 2014 financial result structure is a postive working captial of 10.389.913 euro, which is in
agreement with 63 % of the total assets of the company.
The working capital has increase with 16.41 % compared to previous year. The ratio with
respect to the total assets of the company has however, declined.
The improvement between 2013 and 2014 has mainly been caused by a current liabilities
reduction.
The current ratio of the company in 2014 was 2.85. A company with a current ratio between
1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2014 of the company was 1.74. A company with a Quick Ratio of more than
1 can currently pay back its current liabilities.
The 2013 financial result structure is a postive working captial of 8.925.234 euro, which is in
agreement with 70 % of the total assets of the company.
The working capital has increased with 109.54 % 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 3.58. If the current ratio exeeds 3.0, the
company may not be using its current assets or its short-term financing facilities efficiently .
The quick ratio in 2013 of the company was 2.2. A company with a Quick Ratio of more than
1 can currently pay back its current liabilities.
Financial statement
Last
annual account 2014
Remark
annual account There is no financial data published
Type
of annual account Corporate
Annual
account Riviera
Groothandel B.V.
Beiraweg 15
1047HN AMSTERDAM
Netherlands
Registration number: 34115326
Balance sheet
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Intangible fixed assets |
373.411 |
196.522 |
208.448 |
6.644 |
10.924 |
|
Tangible fixed assets |
103.150 |
128.663 |
196.936 |
286.186 |
369.955 |
|
Financial fixed assets |
|
|
|
|
10.628 |
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Fixed assets |
476.561 |
325.185 |
405.384 |
292.830 |
391.507 |
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Total stock |
6.227.002 |
4.762.157 |
5.888.521 |
5.508.161 |
4.092.989 |
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Total receivables |
9.751.767 |
7.414.231 |
4.071.870 |
3.816.723 |
7.708.154 |
|
Liquid funds |
13.981 |
204.007 |
2.856.437 |
680.896 |
1.392.463 |
|
Current assets |
15.992.750 |
12.380.395 |
12.816.828 |
10.005.780 |
13.193.606 |
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Total assets |
16.469.311 |
12.705.580 |
13.222.212 |
10.298.610 |
13.585.113 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Share premium reserve |
242.822 |
242.822 |
242.822 |
242.822 |
242.822 |
|
Legal and statutory
reserve |
373.411 |
196.522 |
205.401 |
|
|
|
Other reserves |
10.159.167 |
8.748.002 |
4.139.722 |
2.828.610 |
3.384.346 |
|
Total reserves |
10.775.400 |
9.187.346 |
4.587.945 |
3.071.432 |
3.627.168 |
|
Total equity |
10.793.551 |
9.205.497 |
4.606.096 |
3.089.583 |
3.645.319 |
|
Provisions |
72.923 |
44.922 |
58.666 |
21.904 |
16.543 |
|
Short term liabilities |
5.602.837 |
3.455.161 |
8.557.450 |
7.187.123 |
9.923.251 |
|
Total short and
long term liabilities |
5.675.760 |
3.500.083 |
8.616.116 |
7.209.027 |
9.939.794 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Total liabilities |
16.469.311 |
12.705.580 |
13.222.212 |
10.298.610 |
13.585.113 |
Summary The total assets of the company increased with 29.62 % between 2013 and 2014.
The total asset increase is retrievable in the fixed asset growth of 46.55 %.
The asset growth has mainly been financed by a debt increase of 62.16 %. The Net Worth,
however, grew with 17.25 %.
In 2014 the assets of the company were 2.89 % composed of fixed assets and 97.11 % by
current assets. The assets are being financed by an equity of 65.54 %, and total debt of
34.46 %.
The total assets of the company decreased with -3.91 % between 2012 and 2013.
This downturn is mainly retrievable in the fixed asset decrease of -19.78 %.
The asset reduction is in contrast with the equity growth of 99.85 %. Due to this the total debt
decreased with -59.38 %.
In 2013 the assets of the company were 2.56 % composed of fixed assets and 97.44 % by
current assets. The assets are being financed by an equity of 72.45 %, and total debt of
27.55 %.
Profit and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Gross margin |
20.861.095 |
20.848.078 |
17.522.351 |
18.606.325 |
14.535.740 |
|
Wages and salaries |
4.841.700 |
4.410.613 |
4.133.362 |
3.399.971 |
3.209.192 |
|
Amorization and depreciation |
130.943 |
130.213 |
112.904 |
136.203 |
197.024 |
|
other operating costs |
10.016.101 |
10.422.311 |
10.939.942 |
9.980.157 |
8.335.312 |
|
Operating expenses |
14.988.744 |
14.963.137 |
15.186.208 |
13.516.331 |
11.741.528 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Operating result |
5.872.351 |
5.884.941 |
2.336.143 |
5.089.994 |
2.794.212 |
|
Financial income |
101.861 |
100.090 |
|
544 |
36.347 |
|
Financial expenses |
442.026 |
162.716 |
331.622 |
865.818 |
441.707 |
|
Financial result |
-340.165 |
-62.626 |
-331.622 |
-865.274 |
-405.360 |
|
Result on ordinary
operations before taxes |
5.532.186 |
5.822.315 |
2.004.521 |
4.224.720 |
2.388.852 |
|
Taxation on the
result of ordinary
activities |
1.244.132 |
1.216.397 |
488.008 |
1.069.165 |
604.146 |
|
Result of ordinary
activities after taxes |
4.288.054 |
4.605.918 |
1.516.513 |
3.155.555 |
1.784.706 |
|
Extraordinary expense |
|
6.517 |
|
|
|
|
Extraordinary result after
taxation |
|
-6.517 |
|
|
|
|
Net result |
4.288.054 |
4.599.401 |
1.516.513 |
3.155.555 |
1.784.706 |
Summary
The gross profit of the company has remained
the same between 2013 and 2014.
The operating result of the company in 2013
is equal to the result in 2014. This evolution
implies an unchanged economic profitability
of the company.
The result of these changes is a reduction of
the company's Economic Profitability of -26.69
% of the analysed period, being equal to
33.59 in the year 2014.
The Net Result of the company decreased by
-6.77 % between 2013 and 2014.
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 -18.97 % of the analysed period, being
51.25 in the year 2014.
The company's financial profitability has
been positively affected by its financial structure.
The gross profit of the company grew with
18.98 % between 2012 and 2013.
The operating result of the company grew with
151.91 % 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 202.24
% of the analysed period, being equal to
45.82 in the year 2013.
The Net Result of the company increased by
203.29 % between 2012 and 2013.
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
45.34 % of the analysed period, being 63.25
in the year 2013.
The company's financial structure has slowed down its financial profitability.
Analysis
Branch
(SBI) Wholesale trade (no motor
vehicles and motorcycles) (SBI code 46)
Region
Groot Amsterdam
Summary
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
Deposits 27-05-2015: De jaarrekening over 2014 is gepubliceerd.
10-09-2014: De jaarrekening over 2013 is gepubliceerd.
18-11-2013: De jaarrekening over 2012 is gepubliceerd.
21-12-2012: De jaarrekening over 2011 is gepubliceerd.
06-02-2012: De jaarrekening over
2010 is gepubliceerd.
Company structure
Relations 5
Company
Registration
number
Stichting
Administratiekantoor Riviera Jacques Holding (Hoofddorp) 34230049
|
- - Riviera Jacques Holding B.V. (AALSMEER) 34342323
|
- - | - - Riviera Holding B.V. (AMSTERDAM) 34114008
|
- - | - - | - - Riviera Maison B.V. (AMSTERDAM) 34115327
|
- - | - - | - - Riviera Groothandel B.V. (AMSTERDAM) 34115326
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
|
1 |
Rs.100.54 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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:
s
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.