|
Report No. : |
340648 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MERISON RETAIL B.V. |
|
|
|
|
Registered Office : |
Einsteinweg 5 3752LW Bunschoten-Spakenburg |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
19.07.1988 |
|
|
|
|
Com. Reg. No.: |
31043962 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Wholesale of electrical household appliances (no white goods and audio
and video |
|
|
|
|
No. of Employee : |
39 |
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) |
|
Netherland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NETHERLAND - 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 |
MERISON RETAIL B.V. |
|
Operative address |
Einsteinweg 5 |
|
|
3752LW Bunschoten-Spakenburg |
|
|
Netherlands |
|
Status |
Active |
|
Legal form |
Private company |
|
Registration number |
31043962 |
|
VAT-number |
009066652 |
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed assets |
384.000 |
|
423.000 |
|
329.000 |
|
|
|
-9,22 |
|
28,57 |
|
|
Total receivables |
6.204.000 |
|
4.758.000 |
|
4.428.000 |
|
|
|
30,39 |
|
7,45 |
|
|
Total equity |
4.651.000 |
|
4.433.000 |
|
4.726.000 |
|
|
|
4,92 |
|
-6,20 |
|
|
Short term liabilities |
7.973.000 |
|
5.427.000 |
|
7.428.000 |
|
|
|
46,91 |
|
-26,94 |
|
|
Net result |
241.000 |
|
218.000 |
|
858.000 |
|
|
|
10,55 |
|
-74,59 |
|
|
Working capital |
4.267.000 |
|
4.010.000 |
|
4.397.000 |
|
|
|
6,41 |
|
-8,80 |
|
|
Quick ratio |
0,88 |
-5,38 |
0,93 |
55,00 |
0,60 |
|
Company name |
MERISON RETAIL B.V. |
|
Trade names |
MERISON RETAIL B.V. MERISON |
|
Operative address |
Einsteinweg 5 |
|
|
3752LW Bunschoten-Spakenburg |
|
|
Netherlands |
|
Correspondence address |
Postbus 214 |
|
|
3750GE Bunschoten Spakenburg |
|
|
Netherlands |
|
Telephone number |
0332997111 |
|
Fax number |
0332997135 |
|
Email address |
info@merison.nl |
|
Registration number |
31043962 |
|
Branch number |
000019927045 |
|
VAT-number |
009066652 |
|
Status |
Active |
|
First registration company register |
1988-07-27 |
|
Memorandum |
1988-07-19 |
|
Establishment date |
1988-07-19 |
|
Legal form |
Private company |
|
Last proposed admendment |
2002-12-23 |
|
Issued placed capital |
EUR 18.150 |
|
Paid up share capital |
EUR 18.150 |
|
SBI |
46432: Wholesale of electrical household appliances (no white goods
and audio and video |
|
equipment) |
|
|
Exporter |
No |
|
Importer |
No |
|
Goal |
Importeren, distribueren van- en handelen in huishoudelijke en elektronische
artikelen, |
|
|
tuinmeubelen, alsmede luxe-, cadeau- en trendartikelen |
Shareholders Merison Groep B.V.
Einsteinweg
5
3752LW BUNSCHOTEN-SPAKENBURG Netherlands
Registration number: 31046163 Percentage:
100%
Companies on same
address Marisan &
Partners B.V.
Registration number: 34183560
Merison Groep B.V.
Registration number: 31046163
KMB International B.V.
Registration number: 31043765
Stichting Dito
Foundation Registration number: 41194987
Stichting Merison
Foundation Registration number: 32075212
Stichting XO Monumenten
Registration number: 32112849
DPR Holding B.V.
Registration number: 58641416
Liability
statements Merison
Groep B.V.
Einsteinweg 5
3752LW BUNSCHOTEN-SPAKENBURG
Netherlands
Registration number: 31046163 date of issue:
2003-12-15
Starting date: 2003-12-11
Accounts Hollandsche
Bank-Unie NV
Account number: NL16DEUT0628120982
BIC: HBUANL2R
ING Bank NV
Account number: NL51INGB0000632027
BIC: INGBNL2A
Active management M.J. Moore
Michael John
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2004-12-20
Date of birth: 1966-05-31, Belfast, GB
P.C. den Os Paul Christiaan
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-07-01
Date of birth: 1964-02-28, Amsterdam, NL Involved with the following
companies:
KMB International B.V.
Einsteinweg 5
3752LW BUNSCHOTEN-SPAKENBURG Netherlands
Registration number: 31043765 Function: Proxy
B.C. Malenstein Barend Cornelis
Netherlands
Competence: Limited authorization Function: Proxy
Starting date: 2013-03-01
Date of birth: 1972-05-18, Amersfoort, NL
|
Total according to the Chamber of Commerce |
39 |
|
|
Year |
2015 |
2013 |
|
Total |
39 |
39 |
|
Payments |
|
|
Description |
Slow But Correct |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
0,88 |
0,93 |
0,60 |
0,80 |
0,77 |
|
Current ratio |
1,54 |
1,74 |
1,59 |
1,49 |
1,60 |
|
Working capital/ balance
total |
0,34 |
0,41 |
0,36 |
0,32 |
0,36 |
|
Equity / balance
total |
0,37 |
0,45 |
0,39 |
0,35 |
0,40 |
|
Equity / Fixed
assets |
12,11 |
10,48 |
14,36 |
10,25 |
9,40 |
|
Equity / liabilities |
0,58 |
0,82 |
0,64 |
0,55 |
0,67 |
|
Balance total /
liabilities |
1,58 |
1,82 |
1,64 |
1,55 |
1,67 |
|
Working capital |
4.267.000 |
4.010.000 |
4.397.000 |
3.903.000 |
4.469.000 |
|
Equity |
4.651.000 |
4.433.000 |
4.726.000 |
4.325.000 |
5.001.000 |
|
Mutation equity |
4,92 |
-6,20 |
9,27 |
-13,52 |
2,04 |
|
Mutation short term
liabilities |
46,91 |
-26,94 |
-5,97 |
6,10 |
-5,83 |
|
Return on total
assets (ROA) |
1,41 |
3,59 |
8,83 |
9,05 |
8,07 |
|
Return on equity
(ROE) |
3,83 |
7,99 |
22,70 |
25,57 |
20,08 |
|
Gross profit margin |
1,03 |
|
|
|
|
|
Net profit margin |
0,69 |
|
|
|
|
|
Average collection ratio |
4,35 |
|
|
|
|
|
Average payment ratio |
5,59 |
|
|
|
|
|
Equity turnover ratio |
7,46 |
|
|
|
|
|
Total assets turnover
ratio |
2,75 |
|
|
|
|
|
Fixed assets turnover
ratio |
90,36 |
|
|
|
|
|
Inventory conversion ratio |
6,64 |
|
|
|
|
|
Turnover |
34.698.000 |
|
|
|
|
|
Gross margin |
6.877.000 |
7.118.000 |
8.118.000 |
7.207.000 |
7.314.000 |
|
Operating result |
356.000 |
493.000 |
1.257.000 |
1.239.000 |
1.159.000 |
|
Net result after
taxes |
241.000 |
218.000 |
858.000 |
841.000 |
763.000 |
|
EBIT |
356.000 |
493.000 |
1.257.000 |
1.239.000 |
1.159.000 |
Summary The
2013 financial result structure is a postive working captial of 4.267.000 euro,
which is in agreement with 34 % of the total assets of the company.
The working capital has increase with 6.41 % compared to previous year.
The ratio with respect to the total assets of the company has however,
declined.
The improvement between 2012 and 2013 has mainly been caused by a
current liabilities reduction.
The current ratio of the company in 2013 was 1.54. A company with a
current ratio between 1.5 and 3.0 generally indicates good short-term financial
strength.
The quick ratio in 2013 of the company was 0.88. 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
4.010.000 euro, which is in agreement with 41 % of the total assets of the
company.
The working capital has diminished with -8.8 % compared to previous
year. The ratio, with respect to the total assets of the company has however,
increased.
The deterioration between 2011 and 2012 has mainly been caused by a
reduction of the current assets.
The current ratio of the company in 2012 was 1.74. A company with a
current ratio between 1.5 and 3.0 generally indicates good short-term financial
strength.
The quick ratio in 2012 of the company was 0.93. A company with a Quick
Ratio of less than 1 cannot currently pay back its current liabilities.
|
Last annual account |
2013 |
|
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 Merison Groep B.V.
Einsteinweg 5
3752LW BUNSCHOTEN-SPAKENBURG
Netherlands
Registration
number: 31046163
Balance
|
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 |
|
|
22.000 |
54.000 |
106.000 |
|
Tangible fixed assets |
384.000 |
423.000 |
307.000 |
368.000 |
426.000 |
|
Fixed assets |
384.000 |
423.000 |
329.000 |
422.000 |
532.000 |
|
Total stock |
5.224.000 |
4.406.000 |
7.392.000 |
5.514.000 |
6.195.000 |
|
Accounts receivable |
4.576.000 |
3.998.000 |
3.935.000 |
5.545.000 |
4.122.000 |
|
Other receivables |
1.628.000 |
760.000 |
493.000 |
741.000 |
1.591.000 |
|
Total receivables |
6.204.000 |
4.758.000 |
4.428.000 |
6.286.000 |
5.713.000 |
|
Liquid funds |
812.000 |
273.000 |
5.000 |
3.000 |
7.000 |
|
Current assets |
12.240.000 |
9.437.000 |
11.825.000 |
11.803.000 |
11.915.000 |
|
Total assets |
12.624.000 |
9.860.000 |
12.154.000 |
12.225.000 |
12.447.000 |
|
Total equity |
4.651.000 |
4.433.000 |
4.726.000 |
4.325.000 |
5.001.000 |
|
Accounts payable |
1.802.000 |
1.873.000 |
1.839.000 |
1.697.000 |
3.937.000 |
|
Other short term
liabilities |
6.171.000 |
3.554.000 |
5.589.000 |
6.203.000 |
3.509.000 |
|
Short term liabilities |
7.973.000 |
5.427.000 |
7.428.000 |
7.900.000 |
7.446.000 |
|
Total short and
long term liabilities |
7.973.000 |
5.427.000 |
7.428.000 |
7.900.000 |
7.446.000 |
|
Total liabilities |
12.624.000 |
9.860.000 |
12.154.000 |
12.225.000 |
12.447.000 |
Summary The total assets of
the company increased with 28.03 % between 2012 and 2013.
Despite the assets growth, the non current assets decreased with -9.22
%. The asset growth has mainly been financed by a debt increase of 46.91 %. The
Net Worth, however, grew with 4.92 %.
In 2013 the assets of the company were 3.04 % composed of fixed assets
and 96.96 % by current assets. The assets are being financed by an equity of
36.84 %, and total debt of 63.16 %.
The total assets of the company decreased with -18.87 % between 2011 and
2012. Despite the total assets decrease, non current assets grew with 28.57 %.
Assets reduction is explained by a Net Worth decrease of -6.2 %, and an
indebtedness reduction of -26.94 %.
In 2012 the assets of the company were 4.29 % composed of fixed assets
and 95.71 % by current assets. The assets are being financed by an equity of
44.96 %, and total debt of 55.04 %.
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Revenues |
34.698.000 |
|
|
|
|
|
Net turnover |
34.698.000 |
|
|
|
|
|
Gross margin |
6.877.000 |
7.118.000 |
8.118.000 |
7.207.000 |
7.314.000 |
|
Wages and salaries |
2.886.000 |
3.206.000 |
3.028.000 |
2.912.000 |
3.022.000 |
|
Sales |
27.821.000 |
|
|
|
|
|
other operating costs |
3.635.000 |
3.419.000 |
3.833.000 |
3.056.000 |
3.133.000 |
|
Operating expenses |
34.342.000 |
6.625.000 |
6.861.000 |
5.968.000 |
6.155.000 |
|
Operating result |
356.000 |
493.000 |
1.257.000 |
1.239.000 |
1.159.000 |
|
Financial result |
-178.000 |
-139.000 |
-184.000 |
-133.000 |
-155.000 |
|
Result on ordinary
operations before taxes |
178.000 |
354.000 |
1.073.000 |
1.106.000 |
1.004.000 |
|
Taxation on the
result of ordinary
activities |
-63.000 |
136.000 |
215.000 |
265.000 |
241.000 |
|
Result of ordinary
activities after taxes |
241.000 |
218.000 |
858.000 |
841.000 |
763.000 |
|
Net result |
241.000 |
218.000 |
858.000 |
841.000 |
763.000 |
Summary The gross
profit of the company decreased by -3.39 % between 2012 and 2013.
The operating result of the company declined with -27.79 % 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 -60.72 % of the analysed period, being equal to 2012
% in the year 2013.
The Net Result of the company decreased by 10.55 % 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 -52.07 % of the analysed period,
being 3.83 % in the year 2013.
The company's financial profitability has been positively affected by
its financial structure.
The gross profit of the company decreased by -12.32 % between 2011 and
2012. The operating result of the company declined with -60.78 % 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 -59.34 % of the analysed period, being equal to 2011
% in the year 2012.
The Net Result of the company increased by -74.59 % 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 -64.8 % of the analysed period, being
7.99 % 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 |
't Gooi en omstreken |
|
Summary |
In the Netherlands 109662 of the companies are registered with the SBI
code 46 In the region 't Gooi en omstreken 2541 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 't Gooi en omstreken 52 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 't Gooi en omstreken is
normal |
Consent statements 31-10-2014: Voor boekjaar 2013 is een
instemmingsverklaring gedeponeerd.
10-02-2014: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd.
01-02-2013: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.
01-02-2012: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.
Functions 04-04-2014: Per 04-02-2014
is bestuurder Arnoud Peter Schutte in functie getreden.
06-06-2013: Per 01-03-2013 is gevolmachtigde Barend Cornelis Malenstein
in functie getreden.
05-06-2013: Per 28-02-2013 is gevolmachtigde Peter Christian Albert Holländer
uit functie getreden.
Relations 2
|
Company |
Registration |
|
|
number |
|
Merison Groep B.V.
(BUNSCHOTEN-SPAKENBURG) |
31046163 |
|
| - -
Merison Retail B.V.
(Bunschoten-Spakenburg) |
31043962 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.