MIRA INFORM REPORT
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Report No. : |
339081 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
OFICHEM B.V. |
|
|
|
|
Registered Office : |
Heembadweg 5, 9561CZ Ter Apel |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.07.2004 |
|
|
|
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Com. Reg. No.: |
KvK-nummer: 02085056 |
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|
|
|
Legal Form : |
Besloten vennootschap met gewone structuur |
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|
|
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Line of Business : |
Subject is engaged in wholesale of basic and industrial chemicals |
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|
|
No. of Employee : |
Not Available |
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 |
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|
|
|
Payment Behaviour : |
No complaints |
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|
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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) |
|
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
OFICHEM B.V.
Summary
|
Company name |
Ofichem B.V. |
|
Operative address |
Heembadweg 5 |
|
|
9561CZ TER APEL |
|
|
Netherlands |
|
|
|
|
Legal form |
Besloten vennootschap met gewone structuur |
|
Registration number |
KvK-nummer: 02085056 |
|
VAT-number |
813325699 |
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
64.414 |
-36,15 |
100.882 |
27,92 |
78.861 |
|
|
|
|
|
|
|
|
Total receivables |
6.356.690 |
-1,85 |
6.476.650 |
-11,76 |
7.339.459 |
|
|
|
|
|
|
|
|
Total equity |
5.636.818 |
22,99 |
4.583.292 |
-2,12 |
4.682.532 |
|
|
|
|
|
|
|
|
Short term
liabilities |
2.222.782 |
-34,29 |
3.382.559 |
76,01 |
1.921.745 |
|
|
|
|
|
|
|
|
Net result |
1.653.521 |
65,23 |
1.000.760 |
9,63 |
912.861 |
|
|
|
|
|
|
|
|
Working capital |
8.476.293 |
14,68 |
7.391.203 |
-10,03 |
8.214.982 |
|
|
|
|
|
|
|
|
Quick ratio |
2,86 |
49,74 |
1,91 |
-50,00 |
3,82 |
Contact
information
|
Company name |
Ofichem B.V. |
|
Trade names |
Ofichem B.V. |
|
|
|
|
Operative address |
Heembadweg 5 |
|
|
9561CZ TER APEL |
|
|
Netherlands |
|
Correspondence address |
Heembadweg 5 |
|
|
9561CZ TER APEL |
|
|
Netherlands |
|
|
|
|
Telephone number |
0599-583433 |
|
Fax number |
0599 582734 |
|
Email address |
weiteoldenziel@ofichem.com |
Registration
|
Registration number |
KvK-nummer: 02085056 |
|
Registered in |
Kamer van Koophandel Noord-Nederland |
|
Branch number |
000017576539 |
|
VAT-number |
813325699 |
|
Status |
Active |
|
First registration company register |
2004-07-16 |
|
Memorandum |
2004-07-16 |
|
Establishment date |
2004-07-16 |
|
Legal form |
Besloten vennootschap met gewone structuur |
|
Issued placed capital |
EUR 18.000 |
|
Paid up share capital |
EUR 18.000 |
Activities
|
SBI |
46751: Wholesale of basic and industrial chemicals |
|
Exporter |
No |
|
Importer |
No |
|
Goal |
Groothandel in veterinaire-, feed- en farmaceutische grondstoffen |
Relations
|
Companies on same address |
Laboratorium Ofichem B.V. |
|
|
Registration number: 02329540 |
|
|
|
|
|
Ofichem Holding B.V. |
|
|
Registration number: 02325470 |
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|
|
|
|
Ofichem Beheer B.V. |
|
|
Registration number: 02329541 |
|
|
|
|
|
Stichting Administratiekantoor Ofichem
Holding B.V. |
|
|
Registration number: 02087113 |
|
|
|
|
|
Ofipharma B.V. |
|
|
Registration number: 53127145 |
Management
|
Active management |
Laboratorium Ofichem B.V. Heembadweg 5 9561CZ TER APEL Netherlands Registration number: 02329540 Competence: Fully authorized Function: Manager Starting date: 2004-07-16 H.A. Venekamp Hinderikus Albert Netherlands Competence: Limited authorization Function: Proxy Starting date: 2009-05-18 Date of birth: 1982-09-19, Assen, NL |
Employees
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
0 |
12 |
12 |
13 |
12 |
Key
figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
2,86 |
1,91 |
3,82 |
1,62 |
0,98 |
|
Current ratio |
4,81 |
3,19 |
5,27 |
2,65 |
1,40 |
|
Working capital/
balance total |
0,79 |
0,68 |
0,80 |
0,62 |
0,28 |
|
Equity /
balance total |
0,52 |
0,42 |
0,46 |
0,31 |
0,24 |
|
Equity /
Fixed assets |
87,51 |
45,43 |
59,38 |
50,85 |
34,95 |
|
Equity /
liabilities |
1,10 |
0,73 |
0,85 |
0,46 |
0,32 |
|
Balance total
/ liabilities |
2,10 |
1,73 |
1,85 |
1,46 |
1,32 |
|
Working capital |
8.476.293 |
7.391.203 |
8.214.982 |
7.409.724 |
3.268.251 |
|
Equity |
5.636.818 |
4.583.292 |
4.682.532 |
3.769.672 |
2.786.582 |
|
Mutation equity |
22,99 |
-2,12 |
24,22 |
35,28 |
32,10 |
|
Mutation short
term liabilities |
-34,29 |
76,01 |
-57,23 |
-45,51 |
-23,47 |
|
Return on
total assets (ROA) |
20,34 |
12,14 |
11,77 |
10,82 |
7,81 |
|
Return on
equity (ROE) |
38,85 |
28,81 |
25,67 |
34,38 |
32,50 |
|
Gross margin |
4.285.862 |
3.119.851 |
3.563.451 |
4.042.582 |
3.805.412 |
|
Operating result |
2.397.357 |
1.499.415 |
1.518.593 |
1.713.144 |
1.468.946 |
|
Net result
after taxes |
1.653.521 |
1.000.760 |
912.861 |
983.090 |
677.084 |
|
Cashflow |
1.689.019 |
1.030.631 |
937.043 |
1.004.756 |
695.114 |
|
EBIT |
2.397.357 |
1.499.415 |
1.518.593 |
1.713.144 |
1.468.946 |
|
EBITDA |
2.432.855 |
1.529.286 |
1.542.775 |
1.734.810 |
1.486.976 |
Summary
The 2014 financial result structure is a postive working captial of 8.476.293 euro, which is in agreement with 79 % of the total assets of the company.
The working capital has increased with 14.68 % 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 4.81. 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 2.86. 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 7.391.203 euro, which is in agreement with 68 % of the total assets of the company.
The working capital has diminished with -10.03 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
The deterioration between 2012 and 2013 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2013 was 3.19. 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 1.91. 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 |
Ofichem B.V. Heembadweg 5 9561CZ TER APEL Netherlands Registration number: 02085056 |
Balance
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Tangible fixed
assets |
64.414 |
100.882 |
78.861 |
74.130 |
79.734 |
|
Fixed assets |
64.414 |
100.882 |
78.861 |
74.130 |
79.734 |
|
Total stock |
4.340.918 |
4.297.112 |
2.791.913 |
4.613.975 |
3.428.868 |
|
Total receivables |
6.356.690 |
6.476.650 |
7.339.459 |
6.420.447 |
8.085.318 |
|
Liquid funds |
1.467 |
|
5.355 |
868.233 |
|
|
Current assets |
10.699.075 |
10.773.762 |
10.136.727 |
11.902.655 |
11.514.186 |
|
Total assets |
10.763.489 |
10.874.644 |
10.215.588 |
11.976.785 |
11.593.920 |
|
Issued capital |
18.000 |
18.000 |
18.000 |
18.000 |
18.000 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Other reserves |
5.618.818 |
4.565.292 |
4.664.532 |
3.751.672 |
2.768.582 |
|
Total reserves |
5.618.818 |
4.565.292 |
4.664.532 |
3.751.672 |
2.768.582 |
|
Total equity |
5.636.818 |
4.583.292 |
4.682.532 |
3.769.672 |
2.786.582 |
|
Provisions |
3.889 |
8.793 |
11.311 |
14.182 |
11.403 |
|
Long term
interest yielding debt |
2.900.000 |
2.900.000 |
3.600.000 |
3.700.000 |
550.000 |
|
Long term
liabilities |
2.900.000 |
2.900.000 |
3.600.000 |
3.700.000 |
550.000 |
|
Short term
liabilities |
2.222.782 |
3.382.559 |
1.921.745 |
4.492.931 |
8.245.935 |
|
Total short
and long term
liabilities |
5.126.671 |
6.291.352 |
5.533.056 |
8.207.113 |
8.807.338 |
|
Total liabilities |
10.763.489 |
10.874.644 |
10.215.588 |
11.976.785 |
11.593.920 |
Summary
The total assets of the company decreased with -1.02 % between 2013 and 2014.
This downturn is mainly retrievable in the fixed asset decrease of -36.15 %. The asset reduction is in contrast with the equity growth of 22.99 %. Due to this the total debt decreased with -18.51 %.
In 2014 the assets of the company were 0.6 % composed of fixed assets and 99.4 % by current assets. The assets are being financed by an equity of 52.37 %, and total debt of 47.63 %.
The total assets of the company increased with 6.45 % between 2012 and 2013. The total asset increase is retrievable in the fixed asset growth of 27.92 %. Asset growth is in contrasts with the net worth decline of -2.12 %. The company's indebtedness has, therefore, increased with 13.7 %.
In 2013 the assets of the company were 0.93 % composed of fixed assets and 99.07 % by current assets. The assets are being financed by an equity of 42.15 %, and total debt of 57.85 %.
Profit
and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Gross margin |
4.285.862 |
3.119.851 |
3.563.451 |
4.042.582 |
3.805.412 |
|
Wages and
salaries |
669.913 |
585.246 |
612.133 |
681.376 |
559.550 |
|
Amorization and
depreciation |
35.498 |
29.871 |
24.182 |
21.666 |
18.030 |
|
other operating
costs |
1.183.094 |
1.005.319 |
1.408.543 |
1.626.396 |
1.758.886 |
|
Operating expenses |
1.888.505 |
1.620.436 |
2.044.858 |
2.329.438 |
2.336.466 |
|
Operating result |
2.397.357 |
1.499.415 |
1.518.593 |
1.713.144 |
1.468.946 |
|
Financial income |
7.313 |
22.980 |
36.050 |
17.886 |
|
|
Financial expenses |
215.025 |
202.034 |
352.570 |
435.029 |
563.293 |
|
Financial result |
-207.712 |
-179.054 |
-316.520 |
-417.143 |
-563.293 |
|
Result on
ordinary operations before
taxes |
2.189.645 |
1.320.361 |
1.202.073 |
1.296.001 |
905.653 |
|
Taxation on
the result of
ordinary activities |
536.124 |
319.601 |
289.212 |
312.911 |
228.569 |
|
Result of
ordinary activities after
taxes |
1.653.521 |
1.000.760 |
912.861 |
983.090 |
677.084 |
|
Net result |
1.653.521 |
1.000.760 |
912.861 |
983.090 |
677.084 |
Summary
The gross profit of the company grew with 37.37 % between 2013 and 2014.
The operating result of the company grew with 59.89 % 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 67.55 % of the analysed period, being equal to 2013 % in the year 2014.
The Net Result of the company decreased by 65.23 % 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 34.85 % of the analysed period, being 38.85 % in the year 2014.
The company's financial structure has slowed down its financial profitability.
The gross profit of the company decreased by -12.45 % between 2012 and 2013. The operating result of the company declined with -1.26 % between 2012 and 2013. This evolution implies an decrease of the company's economic profitability. The result of these changes is an increase of the company's Economic Profitability of 3.14 % of the analysed period, being equal to 2012 % in the year 2013.
The Net Result of the company decreased by 9.63 % 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 12.23 % of the analysed period, being 28.81 % 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 |
Groningen |
|
Summary |
In the Netherlands 109662 of the companies are registered with the SBI
code 46 In
the region Groningen 2092 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 Groningen 53 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 Groningen is normal |
Publications
|
Deposits |
21-04-2015: De jaarrekening over 2014 is gepubliceerd. 18-04-2014: De jaarrekening over 2013 is gepubliceerd. 24-04-2013: De jaarrekening over 2012 is gepubliceerd. 12-04-2012: De jaarrekening over 2011 is gepubliceerd. 19-07-2011: De jaarrekening over 2010 is gepubliceerd. 08-03-2011: De jaarrekening over 2009 is gepubliceerd. 01-02-2011: De jaarrekening over 2006 is gepubliceerd. 01-02-2011: De jaarrekening over 2008 is gepubliceerd. 31-01-2011: De jaarrekening over 2007 is gepubliceerd. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.61 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.