MIRA INFORM REPORT
|
Report No. : |
346013 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
C. MEIJER B.V. |
|
|
|
|
Registered Office : |
Bathseweg 45 4411rk Rilland |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
15.07.25014 |
|
|
|
|
Date of Incorporation : |
10.10.1950 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 22024805 |
|
|
|
|
Legal Form : |
Private company with common structure |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
23 |
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 |
|
|
|
|
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 C. Meijer B.V.
Operative
address Bathseweg 45
4411RK RILLAND
Netherlands
Legal
form Private company
with common structure
Registration
number KvK-nummer: 22024805
VAT-number 001388150
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
92.600.000 |
-3,31 |
95.772.000 |
10,29 |
86.839.000 |
|
Total receivables |
12.568.000 |
76,10 |
7.137.000 |
0,38 |
7.110.000 |
|
Total equity |
114.778.000 |
|
112.354.000 |
|
97.868.000 |
|
Short term liabilities |
7.129.000 |
13,05 |
6.306.000 |
-2,61 |
6.475.000 |
|
Net result |
26.339.000 |
47,32 |
17.879.000 |
-26,87 |
24.447.000 |
|
Working capital |
24.726.000 |
26,70 |
19.516.000 |
28,97 |
15.132.000 |
|
Quick ratio |
4,45 |
9,61 |
4,06 |
22,66 |
3,31 |
Contact
information
Company
name C. Meijer B.V.
Trade
names C. Meijer B.V.
Operative
address Bathseweg 45
4411RK RILLAND
Netherlands
Correspondence
address Postbus 33
4416ZG KRUININGEN
Netherlands
Telephone
number 0113-760100
Fax
number 0113760119
Email
address info@meijer-potato.com
Website
www.meijer-potato.com
Registration
Registration
number KvK-nummer: 22024805
Branch
number 000016361032
VAT-number
001388150
Status
Active
First
registration company
register
1950-10-10
Memorandum
1950-10-10
Establishment
date 1950-10-10
Legal
form Private company
with common structure
Legal
person since 1973-01-12
Last
proposed admendment 2012-01-31
Issued
placed capital EUR 2.525.000
Paid
up share capital EUR 2.525.000
Activities
SBI
0111: Growing of cereals, leguminous
crops and oil seeds
46212: Wholesale of seeds
46312: Wholesale of edible
potatoes
Exporter
No
Importer
No
Goal Teelt van, groothandel in, im- en export van
aardappelen en pootaardappelen. Exploitatie van koelhuizen. Het verdelen en
vermeerderen, alsmede groothandel in, im- en export van uitgangsmateriaal voor
land- en tuinbouw.
Relations
Shareholders
Meijer Beheer
B.V.
Stationsweg 18A
4416PJ KRUININGEN
Netherlands
Registration number: 22026344
Percentage: 100%
Branches
C. Meijer
B.V.
Verlengde Gildenweg 10B
8304BK EMMELOORD
Netherlands
Registration number: 22024805
C. Meijer B.V.
Bathseweg 47
4411RK RILLAND
Netherlands
Registration number: 22024805
Companies
on same address Meijer International
B.V.
Registration number: 39016621
Liability
statements Meijer Beheer
B.V.
Stationsweg 18A
4416PJ KRUININGEN
Netherlands
Registration number: 22026344
date of issue: 2007-02-27
Starting date: 2007-02-27
Bank
details
Accounts ABN Amro Bank NV
Account number: NL05ABNA0480818800
BIC: ABNANL2A
Management
Active
management Meijer Beheer
B.V.
Stationsweg 18A
4416PJ KRUININGEN
Netherlands
Registration number: 22026344
Competence: Fully authorized
Function: Manager
Starting date: 2007-03-01
J.P.M. Muijsers Johannes Petrus Maria
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 1998-07-13
Date of birth: 1955-12-02, Zwolle, NL
J.W.M. van der Stee Johannes Wilhelmus
Marinus
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2014-01-01
Date of birth: 1972-08-29, Zevenbergen, NL
M.L. van der Vliet Marinus Levinus
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2007-01-01
Date of birth: 1978-09-16, Kapelle, NL
W.A. in 't Anker Willem Adriaan
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2008-11-01
Date of birth: 1973-10-18, Kapelle, NL
J.J. Driessen - Janse Jacomina Jantina
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-01-01
Date of birth: 1966-02-12, Kloetinge, NL
M.G.S. Van Ommen Michael Gerardus Stephanus
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-01-01
Date of birth: 1961-08-20, Rose Park, AU
A. Tange Adriaan
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2011-07-01
Date of birth: 1966-12-10, Goes, NL
Employees
|
Year |
2015 |
2014 |
2012 |
|
Total |
23 |
28 |
11 |
Payments
Description No Complaints
Key
figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
4,45 |
4,06 |
3,31 |
3,49 |
5,55 |
|
Current ratio |
4,47 |
4,09 |
3,34 |
3,52 |
5,59 |
|
Working capital/ balance
total |
0,20 |
0,16 |
0,14 |
0,15 |
0,14 |
|
Equity / balance
total |
0,92 |
0,92 |
0,90 |
0,91 |
0,93 |
|
Equity / Fixed
assets |
1,24 |
1,17 |
1,13 |
1,14 |
1,13 |
|
Equity / liabilities |
11,86 |
12,16 |
9,25 |
9,58 |
13,92 |
|
Balance total /
liabilities |
12,86 |
13,16 |
10,25 |
10,58 |
14,92 |
|
Working capital |
24.726.000 |
19.516.000 |
15.132.000 |
13.664.000 |
12.016.000 |
|
Equity |
114.778.000 |
112.354.000 |
97.868.000 |
84.790.000 |
79.041.000 |
|
Mutation equity |
2,16 |
14,80 |
15,42 |
7,27 |
10,06 |
|
Mutation short term
liabilities |
13,05 |
-2,61 |
19,18 |
107,45 |
-63,56 |
|
Return on total
assets (ROA) |
26,22 |
5,21 |
4,98 |
7,22 |
4,99 |
|
Return on equity
(ROE) |
28,43 |
5,64 |
5,51 |
7,97 |
5,35 |
|
Gross profit margin |
10,23 |
10,49 |
9,25 |
11,37 |
8,30 |
|
Net profit margin |
40,60 |
31,04 |
46,86 |
14,63 |
16,56 |
|
Average collection ratio |
9,10 |
9,13 |
8,06 |
10,49 |
18,42 |
|
Average payment ratio |
5,16 |
8,07 |
7,34 |
6,54 |
5,17 |
|
Equity turnover ratio |
0,57 |
0,51 |
0,53 |
0,67 |
0,61 |
|
Total assets turnover
ratio |
0,52 |
0,47 |
0,48 |
0,61 |
0,57 |
|
Fixed assets turnover
ratio |
0,70 |
0,60 |
0,60 |
0,76 |
0,69 |
|
Inventory conversion ratio |
569,05 |
278,23 |
347,82 |
435,21 |
473,05 |
|
Turnover |
64.872.000 |
57.593.000 |
52.173.000 |
57.012.000 |
48.251.000 |
|
Gross margin |
|
|
|
12.480.000 |
11.407.000 |
|
Operating result |
6.634.000 |
6.040.000 |
4.828.000 |
6.484.000 |
4.004.000 |
|
Net result after
taxes |
26.339.000 |
17.879.000 |
24.447.000 |
8.343.000 |
7.990.000 |
|
Cashflow |
|
|
|
9.035.000 |
8.684.000 |
|
Gross profit |
64.872.000 |
57.593.000 |
52.173.000 |
57.012.000 |
|
|
EBIT |
6.634.000 |
6.040.000 |
4.828.000 |
6.484.000 |
4.004.000 |
|
EBITDA |
|
|
|
7.176.000 |
4.698.000 |
Summary
The 2014 financial result structure is a
postive working captial of 24.726.000 euro, which is in
agreement with 20 % of the total assets of
the company.
The working capital has increased with 26.7 %
compared to previous year. The ratio, with
respect to the total assets of the company
has however, increased.
The improvement between 2013 and 2014 has
mainly been caused by an increase of the
current assets.
The current ratio of the company in 2014 was
4.47. 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 2014 of the company was 4.45.
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 19.516.000 euro, which is in
agreement with 16 % of the total assets of
the company.
The working capital has increased with 28.97
% 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
4.09. 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
4.06. 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 The financial statements shown in the report
relate to the consolidated financial statements of the group
.
Type
of annual account Consolidated
Annual
account Meijer
Beheer B.V.
Stationsweg 18A
4416PJ KRUININGEN
Netherlands
Registration number: 22026344
Balance
sheet
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-07-15 |
2013-07-15 |
2012-07-15 |
2011-07-15 |
2010-07-15 |
|
Intangible fixed assets |
411.000 |
823.000 |
1.235.000 |
1.647.000 |
2.059.000 |
|
Tangible fixed assets |
7.136.000 |
6.435.000 |
6.224.000 |
5.979.000 |
4.660.000 |
|
Financial fixed assets |
85.053.000 |
88.514.000 |
79.380.000 |
66.919.000 |
63.365.000 |
|
Fixed assets |
92.600.000 |
95.772.000 |
86.839.000 |
74.545.000 |
70.084.000 |
|
Total stock |
114.000 |
207.000 |
150.000 |
131.000 |
102.000 |
|
Accounts receivable |
4.461.000 |
4.171.000 |
4.143.000 |
3.628.000 |
4.056.000 |
|
Other receivables |
8.107.000 |
2.966.000 |
2.967.000 |
5.092.000 |
5.273.000 |
|
Total receivables |
12.568.000 |
7.137.000 |
7.110.000 |
8.720.000 |
9.329.000 |
|
Liquid funds |
19.173.000 |
18.478.000 |
14.347.000 |
10.246.000 |
5.204.000 |
|
Current assets |
31.855.000 |
25.822.000 |
21.607.000 |
19.097.000 |
14.635.000 |
|
Total assets |
124.455.000 |
121.594.000 |
108.446.000 |
93.642.000 |
84.719.000 |
|
Total equity |
114.778.000 |
112.354.000 |
97.868.000 |
84.790.000 |
79.041.000 |
|
Provisions |
2.548.000 |
2.934.000 |
4.103.000 |
3.419.000 |
3.059.000 |
|
Accounts payable |
|
661.000 |
569.000 |
875.000 |
322.000 |
|
Other short term
liabilities |
|
5.645.000 |
5.906.000 |
4.558.000 |
2.297.000 |
|
Short term liabilities |
7.129.000 |
6.306.000 |
6.475.000 |
5.433.000 |
2.619.000 |
|
Total short and
long term liabilities |
9.677.000 |
9.240.000 |
10.578.000 |
8.852.000 |
5.678.000 |
|
Total liabilities |
124.455.000 |
121.594.000 |
108.446.000 |
93.642.000 |
84.719.000 |
Summary
The total assets of the company increased
with 2.35 % between 2013 and 2014.
Despite the assets growth, the non current
assets decreased with -3.31 %.
The asset growth has mainly been financed by
a debt increase of 4.73 %. The Net Worth,
however, grew with 2.16 %.
In 2014 the assets of the company were 74.4 %
composed of fixed assets and 25.6 % by
current assets. The assets are being financed
by an equity of 92.22 %, and total debt of 7.78
%.
The total assets of the company increased
with 12.12 % between 2012 and 2013.
The fixed asset growth of 10.29 % is lower
than the total asset growth.
The assets growth has been financed by a Net
Worth increase of 14.8 %. The company's net
increase has also covered a reduction of
-12.65 % of the company's indebtedness.
In 2013 the assets of the company were 78.76
% composed of fixed assets and 21.24 % by
current assets. The assets are being financed
by an equity of 92.4 %, and total debt of 7.6 %.
Profit
and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Revenues |
65.980.000 |
58.515.000 |
53.052.000 |
57.956.000 |
48.251.000 |
|
Other operating income |
1.108.000 |
922.000 |
879.000 |
944.000 |
|
|
Net turnover |
64.872.000 |
57.593.000 |
52.173.000 |
57.012.000 |
48.251.000 |
|
Gross margin |
|
|
|
12.480.000 |
11.407.000 |
|
Wages and salaries |
|
|
|
4.409.000 |
4.462.000 |
|
Amorization and depreciation |
|
|
|
692.000 |
694.000 |
|
Sales |
|
|
|
44.532.000 |
36.844.000 |
|
other operating costs |
|
|
|
1.839.000 |
2.247.000 |
|
Operating expenses |
59.346.000 |
52.475.000 |
48.224.000 |
51.472.000 |
44.247.000 |
|
Result in subsidiaries |
25.637.000 |
|
|
|
|
|
Operating result |
6.634.000 |
6.040.000 |
4.828.000 |
6.484.000 |
4.004.000 |
|
Financial income |
362.000 |
300.000 |
581.000 |
275.000 |
232.000 |
|
Financial expenses |
|
|
13.000 |
|
5.000 |
|
Financial result |
362.000 |
300.000 |
568.000 |
275.000 |
227.000 |
|
Result on ordinary
operations before taxes |
32.633.000 |
6.340.000 |
5.396.000 |
6.759.000 |
4.231.000 |
|
Taxation on the
result of ordinary
activities |
5.903.000 |
4.763.000 |
6.084.000 |
2.502.000 |
618.000 |
|
Result of ordinary
activities after taxes |
26.730.000 |
1.577.000 |
-688.000 |
4.257.000 |
3.613.000 |
|
Extraordinary income |
|
129.000 |
|
|
|
|
Extraordinary result after
taxation |
|
129.000 |
|
|
|
|
Result subsidiaries after
taxes |
|
16.306.000 |
25.258.000 |
4.086.000 |
4.377.000 |
|
Net result |
26.339.000 |
17.879.000 |
24.447.000 |
8.343.000 |
7.990.000 |
|
Attributable to third
parties |
391.000 |
133.000 |
123.000 |
|
|
Summary The turnover of the company grew with 12.64 %
between 2013 and 2014.
The operating result of the company grew with
9.83 % between 2013 and 2014. 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 403.26
% of the analysed period, being equal to
26.22 in the year 2014.
This growth has contributed to the increase
in assets turnover, increasing by 10.64 %
reaching 0.52.
The Net Result of the company increased by
47.32 % between 2013 and 2014.
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 404.08 % of the
analysed period, being 28.43 in the year 2014.
The company's financial structure has slowed
down its financial profitability.
The turnover of the company grew with 10.39 %
between 2012 and 2013.
The operating result of the company grew with
25.1 % 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 4.62 %
of the analysed period, being equal to 5.21
in the year 2013.
Despite the growth the assets turnover
decreased, whose index evolved with -2.08 % to a
level of 0.47.
The Net Result of the company decreased by
-26.87 % 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 2.36 % of the analysed period, being 5.64
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
Zeeland
Summary In the Netherlands 109662
of the companies are registered with the SBI code 46
In the region Zeeland 1978 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 Zeeland 36 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 Zeeland is normal
Publications
Consent
statements 18-11-2013: Voor boekjaar
2013 is een instemmingsverklaring gedeponeerd.
04-12-2012: Voor boekjaar
2012 is een instemmingsverklaring gedeponeerd.
Functions 09-07-2014: Per 01-01-2014 is gevolmachtigde
Johannes Wilhelmus Marinus van der Stee infunctie getreden.
Amendments
17-02-2012: Per 31-1-2012
statuten gewijzigd.
Company
structure
Relations
7
Company
Registration
number
Stichting
Administratiekantoor van Aandelen Meijer Concern (KRUININGEN) 22048423
|
- - Meijer Beheer B.V. (KRUININGEN) 22026344
|
- - | - - Noordijke B.V. (KRUININGEN) 39021681
|
- - | - - Meijer Frozen Foods B.V. (KRUININGEN) 22026293
|
- - | - - Meijer Onroerend Goed B.V. (KRUININGEN) 22024833
|
- - | - - C. Meijer B.V. (RILLAND) 22024805
|
- - | - - | - - Meijer International B.V. (RILLAND) 39016621
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
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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.