|
Report No. : |
345711 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
JUST BRANDS B.V. |
|
|
|
|
Registered Office : |
New Yorkstraat 501175rd
Lijnden |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.08.1992 |
|
|
|
|
Com. Reg. No.: |
33241012 |
|
|
|
|
Legal Form : |
Private company with common structure |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
60 |
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 JUST BRANDS B.V.
Operative address New Yorkstraat 50
1175RD
LIJNDEN
Netherlands
|
Status |
Active |
|
Legal form |
Private company with common structure |
|
Registration number |
33241012 |
|
VAT-number |
801555711 |
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
4.141.000 |
|
3.985.000 |
|
2.535.000 |
|
|
|
3,91 |
|
57,20 |
|
|
Total receivables |
3.765.000 |
|
3.867.000 |
|
4.203.000 |
|
|
|
-2,64 |
|
-7,99 |
|
|
Total equity |
5.492.000 |
|
5.317.000 |
|
4.827.000 |
|
|
|
3,29 |
|
10,15 |
|
|
Short term liabilities |
16.208.000 |
|
18.294.000 |
|
13.636.000 |
|
|
|
-11,40 |
|
34,16 |
|
|
Net result |
7.775.000 |
|
10.090.000 |
|
11.590.000 |
|
|
|
-22,94 |
|
-12,94 |
|
|
Working capital |
1.931.000 |
|
1.742.000 |
|
2.373.000 |
|
|
|
10,85 |
|
-26,59 |
|
|
Quick ratio |
0,45 |
-21,05 |
0,57 |
-18,57 |
0,70 |
Company name Just Brands B.V.
Trade names Just Brands B.V.
Pall Mall Export Clothing Company
PME-Jeans
PME-Casual PME-Clothing
PME-Legend
PME-American Classic Cast Iron
Just Brands Workwear
|
Operative address |
New Yorkstraat 50 |
|
|
1175RD LIJNDEN |
|
|
Netherlands |
|
Correspondence address |
Postbus 21 |
|
|
1170AA BADHOEVEDORP |
|
|
Netherlands |
|
Telephone number |
020-4878888 |
|
Fax number |
0204878878 |
|
Email address |
info@justbrands.nl |
|
Registration number |
33241012 |
|
Branch number |
000017676738 |
|
VAT-number |
801555711 |
|
Status |
Active |
|
First registration company register |
1992-08-25 |
|
Memorandum |
1992-08-25 |
|
Establishment date |
1992-08-25 |
|
Legal form |
Private company with common structure |
|
Last proposed admendment |
2007-12-11 |
|
Issued placed capital |
EUR 1.134.400 |
|
Paid up share capital |
EUR 1.134.400 |
SBI 46421: Wholesale of outerwear
6420: Financial holding
64922: Municipal credit
banks and commercial finance companies
Exporter Yes
Importer Yes
Goal The development, purchase, sales and
promotion of clothing, as well as
participate in, conduct the management
of, and financing other enterprises
and companies to provide security
for the debts of others.
Companies on same address Just
Retail B.V.
Registration
number: 24323647
Commander Holding B.V.
Registration number: 34180557
Stichting Administratiekantoor Just Brands
Registration number: 34269206
Just Buildings B.V.
Registration number: 34294041
Just Franchise B.V.
Registration number: 34385640
Liability statements Euro-Trading Company B.V.
Handelsweg 53a
1181ZA AMSTELVEEN Netherlands
Registration number: 33123521
Starting date: 1994-07-18
End date: 2009-12-31
Active management Commander Holding
B.V.
New Yorkstraat 50 1175RD LIJNDEN Netherlands
Registration number: 34180557
Competence: Fully authorized
Function: Manager
Starting date: 2006-11-01
J.S.M. van Klooster - Kleinveld Jacqueline
Simone Maria
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1996-10-01
Date of birth: 1966-08-11, Bussum, NL
J.T.M. Wiechmann Josepha Theresia Maria
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1996-10-01
Date of birth: 1960-02-23, Amsterdam, NL
R.H.A. Goossens Ronaldus Henricus Antonius
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2000-12-01
Date of birth: 1960-03-12, Haarlem, NL
A.P.G. van der Heijden Arjan Pieter Gordon
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2002-06-01
Date of birth: 1967-12-13, Breda, NL
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
60 |
60 |
150 |
112 |
82 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
0,45 |
0,57 |
0,70 |
0,77 |
0,83 |
|
Current ratio |
1,12 |
1,10 |
1,17 |
1,19 |
1,22 |
|
Working capital/ balance
total |
0,09 |
0,07 |
0,13 |
0,14 |
0,17 |
|
Equity / balance
total |
0,25 |
0,22 |
0,26 |
0,26 |
0,25 |
|
Equity / Fixed
assets |
1,33 |
1,33 |
1,90 |
2,10 |
3,06 |
|
Equity / liabilities |
0,33 |
0,28 |
0,35 |
0,35 |
0,33 |
|
Balance total /
liabilities |
1,33 |
1,28 |
1,35 |
1,35 |
1,33 |
|
Working capital |
1.931.000 |
1.742.000 |
2.373.000 |
2.206.799 |
2.714.644 |
|
Equity |
5.492.000 |
5.317.000 |
4.827.000 |
4.212.472 |
4.034.930 |
|
Mutation equity |
3,29 |
10,15 |
14,59 |
4,40 |
0,73 |
|
Mutation short term
liabilities |
-11,40 |
34,16 |
14,83 |
-2,90 |
70,42 |
|
Return on total
assets (ROA) |
46,46 |
55,92 |
83,10 |
93,26 |
89,37 |
|
Return on equity
(ROE) |
188,49 |
252,64 |
319,25 |
356,18 |
360,27 |
|
Gross profit margin |
14,79 |
19,41 |
|
|
|
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Net profit margin |
10,73 |
14,58 |
|
|
|
|
Average collection ratio |
4,47 |
3,78 |
|
|
|
|
Average payment ratio |
19,24 |
17,90 |
|
|
|
|
Equity turnover ratio |
13,19 |
13,02 |
|
|
|
|
Total assets turnover
ratio |
3,25 |
2,88 |
|
|
|
|
Fixed assets turnover
ratio |
17,49 |
17,37 |
|
|
|
|
Inventory conversion ratio |
6,72 |
7,22 |
|
|
|
|
Turnover |
72.442.000 |
69.223.000 |
|
|
|
|
Gross margin |
31.587.000 |
31.366.000 |
30.160.000 |
28.427.045 |
26.023.953 |
|
Operating result |
10.714.000 |
13.436.000 |
15.447.000 |
14.809.916 |
14.355.049 |
|
Net result after
taxes |
7.775.000 |
10.090.000 |
11.590.000 |
11.192.542 |
10.840.037 |
|
Cashflow |
|
|
12.348.000 |
|
11.048.534 |
|
EBIT |
10.714.000 |
13.436.000 |
15.447.000 |
14.809.916 |
14.355.049 |
|
EBITDA |
|
|
16.205.000 |
|
14.563.546 |
Summary The 2013 financial
result structure is a postive working captial of 1.931.000 euro, which is in
agreement with 9 % of the total assets of the company.
The working capital has increased with 10.85
% 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
1.12. When the current ratio is below 1.5, the company may have problems meeting
its short-term obligations.
The quick ratio in 2013 of the company was
0.45. A company with a Quick Ratio of less than 1 cannot currently pay back its
current liabilities.
The 2012 financial result structure is a
postive working captial of 1.742.000 euro, which is in agreement with 7 % of
the total assets of the company.
The working capital has diminished with
-26.59 % 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
1.1. 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
0.57. A company with a Quick Ratio of less than 1 cannot currently pay back its
current liabilities.
|
Last annual account |
2013 |
|
Remark annual account |
There is no financial data published |
|
Type of annual account |
Consolidated |
|
Annual account |
Just Brands B.V. |
New Yorkstraat 50 1175RD LIJNDEN Netherlands
Registration number: 33241012
|
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 |
48.000 |
100.000 |
152.000 |
204.665 |
|
|
Tangible fixed assets |
4.093.000 |
3.885.000 |
2.383.000 |
1.801.008 |
1.097.554 |
|
Financial fixed assets |
|
|
|
|
222.732 |
|
Fixed assets |
4.141.000 |
3.985.000 |
2.535.000 |
2.005.673 |
1.320.286 |
|
Total stock |
10.774.000 |
9.593.000 |
6.530.000 |
4.971.910 |
4.776.093 |
|
Accounts receivable |
1.982.000 |
2.573.000 |
|
|
|
|
Other receivables |
1.783.000 |
1.294.000 |
|
|
|
|
Total receivables |
3.765.000 |
3.867.000 |
4.203.000 |
4.653.210 |
4.413.201 |
|
Liquid funds |
3.600.000 |
6.576.000 |
5.276.000 |
4.456.736 |
5.755.162 |
|
Current assets |
18.139.000 |
20.036.000 |
16.009.000 |
14.081.856 |
14.944.456 |
|
Total assets |
22.280.000 |
24.021.000 |
18.544.000 |
16.087.529 |
16.264.742 |
|
Issued capital |
|
|
|
|
1.134.440 |
|
Other reserves |
|
|
|
|
2.900.490 |
|
Total reserves |
|
|
|
|
2.900.490 |
|
Total equity |
5.492.000 |
5.317.000 |
4.827.000 |
4.212.472 |
4.034.930 |
|
Provisions |
580.000 |
410.000 |
81.000 |
|
|
|
Short term liabilities |
16.208.000 |
18.294.000 |
13.636.000 |
11.875.057 |
12.229.812 |
|
Total short and
long term liabilities |
16.788.000 |
18.704.000 |
13.717.000 |
11.875.057 |
12.229.812 |
|
Total liabilities |
22.280.000 |
24.021.000 |
18.544.000 |
16.087.529 |
16.264.742 |
Summary The
total assets of the company decreased with -7.25 % between 2012 and 2013.
Despite the total assets decrease, non
current assets grew with 3.91 %. The asset reduction is in contrast with the
equity growth of 3.29 %. Due to this the total debt decreased with -10.24 %.
In 2013 the assets of the company were 18.59
% composed of fixed assets and 81.41 % by current assets. The assets are being
financed by an equity of 24.65 %, and total debt of 75.35 %.
The total assets of the company increased
with 29.54 % between 2011 and 2012. The total asset increase is retrievable in
the fixed asset growth of 57.2 %. The asset growth has mainly been financed by
a debt increase of 36.36 %. The Net Worth, however, grew with 10.15 %.
In 2012 the assets of the company were 16.59
% composed of fixed assets and 83.41 % by current assets. The assets are being
financed by an equity of 22.13 %, and total debt of 77.87 %.
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
72.442.000 |
69.223.000 |
|
|
|
|
Net turnover |
72.442.000 |
69.223.000 |
|
|
|
|
Gross margin |
31.587.000 |
31.366.000 |
30.160.000 |
28.427.045 |
26.023.953 |
|
Wages and salaries |
8.270.000 |
6.944.000 |
5.754.000 |
|
7.768.248 |
|
Amorization and depreciation |
|
|
758.000 |
|
208.497 |
|
Sales |
40.855.000 |
37.857.000 |
|
13.617.129 |
|
|
other operating costs |
12.603.000 |
10.986.000 |
8.201.000 |
|
3.692.159 |
|
Operating expenses |
61.728.000 |
55.787.000 |
14.713.000 |
13.617.129 |
11.668.904 |
|
Operating result |
10.714.000 |
13.436.000 |
15.447.000 |
14.809.916 |
14.355.049 |
|
Financial income |
15.000 |
|
21.000 |
196.069 |
181.463 |
|
Financial expenses |
377.000 |
|
58.000 |
2.109 |
|
|
Financial result |
-362.000 |
-3.000 |
-37.000 |
193.960 |
181.463 |
|
Result on ordinary
operations before taxes |
10.352.000 |
13.433.000 |
15.410.000 |
15.003.876 |
14.536.512 |
|
Taxation on the
result of ordinary
activities |
2.577.000 |
3.343.000 |
3.820.000 |
3.811.334 |
3.696.475 |
|
Result of ordinary
activities after taxes |
7.775.000 |
10.090.000 |
11.590.000 |
11.192.542 |
10.840.037 |
|
Net result |
7.775.000 |
10.090.000 |
11.590.000 |
11.192.542 |
10.840.037 |
Summary The turnover of the
company grew with 4.65 % between 2012 and 2013.
The gross profit of the company has remained
the same between 2012 and 2013. The operating result of the company declined
with -20.26 % between 2012 and 2013. 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 -16.92 % of the analysed period, being
equal to 46.46 in the year 2013.
Despite the decline the assets turnover
increased by 12.85 % reaching 3.25. The Net Result of the company decreased by
-22.94 % 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
-25.39 % of the analysed period, being 188.49 in the year 2013.
The company's financial profitability has
been positively affected by its financial structure.
The gross profit of the company grew with 4
% between 2011 and 2012. The operating result of the company declined with
-13.02 % 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 -32.71 % of the analysed period, being
equal to 55.92 in the year 2012.
The Net Result of the company decreased by
-12.94 % between 2011 and 2012. 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 -20.86 % of the
analysed period, being 252.64 in the year 2012.
The company's financial profitability has been
positively affected by its financial structure.
|
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
Deposits 08-01-2015: De
jaarrekening over 2013 is gepubliceerd.
04-02-2014: De jaarrekening over 2012 is
gepubliceerd.
05-02-2013: De jaarrekening over 2011 is
gepubliceerd.
10-12-2011: De jaarrekening over 2010 is
gepubliceerd.
09-11-2010: De jaarrekening over 2009 is gepubliceerd.
|
Relations |
3 |
|
Company |
Registration |
|
|
number |
|
Just Brands B.V.
(LIJNDEN) |
33241012 |
|
| - -
Just Retail B.V.
(LIJNDEN) |
24323647 |
|
| - -
Just Franchise B.V.
(LIJNDEN) |
34385640 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SDA |
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.