MIRA INFORM REPORT
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Report No. : |
340603 |
|
Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUBBER RESOURCES B.V. |
|
|
|
|
Registered Office : |
Schoenerweg 36 6222NX Maastricht |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.08.1995 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 14633389 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Recycling of rubber
to raw materials for the rubber processing industry Holding related activities of group companies |
|
|
|
|
No. of Employees : |
79 (2015) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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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 |
Summary
Company name Rubber Resources B.V.
Operative address
Schoenerweg 36
6222NX Maastricht
Netherlands
Legal form Private Company
Registration number KvK-nummer: 14633389
VAT-number 804042962
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
2011 |
|
Fixed
assets |
10.140.244 |
201,54 |
3.362.828 |
-4,01 |
3.503.425 |
3.503.425 |
|
Total
receivables |
3.463.816 |
-0,74 |
3.489.575 |
-23,15 |
4.540.507 |
4.540.507 |
|
Total
equity |
4.765.462 |
-0,41 |
4.784.873 |
9,75 |
4.359.765 |
4.359.765 |
|
Short
term liabilities |
7.997.981 |
16,29 |
6.877.383 |
-3,26 |
7.109.061 |
7.109.061 |
|
Net
result |
-19.411 |
-104,57 |
425.108 |
1.073,39 |
36.229 |
36.229 |
|
Working
capital |
586.886 |
-66,34 |
1.743.348 |
20,10 |
1.451.610 |
1.451.610 |
|
Quick
ratio |
0,43 |
-15,69 |
0,51 |
-26,09 |
0,69 |
0,69 |
Contact
information
Company name Rubber Resources
B.V.
Trade names Rubber Resources
B.V.
Operative address
Schoenerweg 36
6222NX Maastricht
Netherlands
Correspondence
address Postbus 437
6200AK Maastricht
Netherlands
Telephone number 0433290444
Fax number 0433257191
Email address info@rubber-resources.com
Website www.rubber-resources.com
Registration
Registration
number KvK-nummer:
14633389
Branch number 000016230736
VAT-number 804042962
Status Active
First
registration company register 1995-09-01
Memorandum 1995-08-22
Establishment
date 1995-08-22
Legal form Private Company
Last proposed
admendment 2014-06-06
Issued placed
capital EUR 2.500.000
Paid up share capital EUR 2.500.000
Activities
SBI 3832: Recovery of
sorted materials
ISO certified Yes
Exporter No
Importer No
Branche
organisations VACO
Goal Recycling of rubber to raw materials for the
rubber processing industry
holding related activities of group companies
Relations
Shareholders Elgi Rubber Company Limited
2000 Trichy Road, Singanallur
Coimbatore 641 005 Tamil
India
Percentage: 100%
Shareholders Naam: Elgi Rubber
Company Limited
Bezoekadres: 2000 Trichy Road,, Singanallur,
Coimbatore 641 005 Tamil Nadu , India
Ingeschreven in: Registrar of Companies Tamil
Nadu, Coimbatore, India onder nummer
U25119TZ2006PLC013144
Enig aandeelhouder
sedert: 16-03-2011 (datum registratie: 16-03-2011)
Companies on same
address Elgi Rubber Company B.V.
Registration
number: 54912792
Liability
statements VREDENDAL N.V.
Sparrenheuvel 36
3708JE ZEIST
Netherlands
Registration number: 09043369
date of issue: 2000-02-09
Starting date: 2000-01-01
End date: 2011-04-20
Management
Active management R.J.H.
Burlet Rudolf Johannes Hubertus
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 2006-02-03
Date of birth: 1957-01-05, Geleen, NL
Involved with the following companies:
Elgi Rubber Company B.V.
Schoenerweg 36
6222NX MAASTRICHT
Netherlands
Registration number: 54912792
Function: Manager
S. Varadaraj Sudarsan
Netherlands
Function: Commissaris
Starting date: 2011-03-16
Date of birth: 1958-01-22, Chennai, IN
J.H. Smitsmans Jozef Hubertus
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1995-09-01
Date of birth: 1951-04-24,
Valkenburg-Houthem, NL
J.M.A. Budé Josephina Maria Antoinette
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1999-04-01
Date of birth: 1966-06-24, Heerlen, NL
Involved with the following companies:
Elgi Rubber Company B.V.
Schoenerweg 36
6222NX MAASTRICHT
Netherlands
Registration number: 54912792
Function: Proxy
T.H. Knöpker Theodorus Hubertus
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1999-04-01
Date of birth: 1968-10-11, Heerlen, NL
Involved with the following companies:
Elgi Rubber Company B.V.
Schoenerweg 36
6222NX MAASTRICHT
Netherlands
Registration number: 54912792
Function: Proxy
M.R.R. Beeldsnijder Marc Roël Ronald
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2003-12-02
Date of birth: 1966-06-06, Paramaribo, SR
C.F.J. Bulten Chantal Francina Johanna
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2006-02-17
Date of birth: 1971-12-21, Heerlen, NL
Involved with the following companies:
Elgi Rubber Company B.V.
Schoenerweg 36
6222NX MAASTRICHT
Netherlands
Registration number: 54912792
Function: Proxy
L.L.E.J. Hardij Lambertus Lucien Egidius
Jozep
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-09-08
Date of birth: 1958-03-17, Eijsden, NL
M.J.M.J. Claasens Maurice Johannes Maria
Joseph
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-11-02
Date of birth: 1965-10-06, Maastricht, NL
Involved with the following companies:
Elgi Rubber Company B.V.
Schoenerweg 36
6222NX MAASTRICHT
Netherlands
Registration number:
Employees
Total according to the Chamber of Commerce 79
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
79 |
79 |
78 |
75 |
73 |
Payments
Description The payments are Slow but correct
Key
figures
|
Year |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
0,43 |
0,51 |
0,69 |
0,66 |
|
Current ratio |
1,07 |
1,25 |
1,20 |
1,22 |
|
|
||||
|
Working capital/ balance total |
0,03 |
0,15 |
0,12 |
0,11 |
|
Equity / balance total |
0,25 |
0,40 |
0,36 |
0,41 |
|
Equity / Fixed assets |
0,47 |
1,42 |
1,24 |
1,11 |
|
Equity / liabilities |
0,34 |
0,66 |
0,57 |
0,71 |
|
Balance total / liabilities |
1,34 |
1,66 |
1,57 |
1,71 |
|
|
||||
|
Working capital |
586.886 |
1.743.348 |
1.451.610 |
1.169 |
|
Equity |
4.765.462 |
4.784.873 |
4.359.765 |
4.361 |
|
Mutation equity |
-0,41 |
9,75 |
99.871,68 |
|
|
Mutation short term liabilities |
16,29 |
-3,26 |
131.111,90 |
|
|
|
||||
|
Return on total assets (ROA) |
-0,02 |
2,69 |
0,22 |
2,40 |
|
Return on equity (ROE) |
-0,07 |
6,73 |
0,61 |
5,80 |
|
Gross margin |
10.242.477 |
10.596.932 |
10.296.120 |
10.188 |
|
Operating result |
361.307 |
448.438 |
359.622 |
283 |
|
Net result after taxes |
-19.411 |
425.108 |
36.229 |
289 |
|
|
||||
|
Cashflow |
729.206 |
1.193.753 |
901.032 |
1.118 |
|
EBIT |
361.307 |
448.438 |
359.622 |
283 |
|
Year |
2013 |
2012 |
2011 |
2010 |
|
EBITDA |
1.109.924 |
1.217.083 |
1.224.425 |
1.112 |
Summary
The 2013 financial result structure is a positive working capital of 586.886 euro, which is in agreement with 3 % of the total assets of the company.
The working capital has diminished with -66.34 % 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 1.07. 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 0.43. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.
The 2012 financial result structure is a positive working capital of 1.743.348 euro, which is in agreement with 15 % of the total assets of the company.
The working capital has increased with 20.1 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2011 and 2012 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2012 was 1.25. 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 0.51. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.
Financial
statement
Last annual
account 2013
Remark annual
account The company is obliged
to file its financial statements.
Type of annual account Corporate
Annual account Rubber
Resources B.V.
Schoenerweg 36
6222NX Maastricht
Netherlands
Registration number: 14633389
Balance
|
Year End date |
2013 2013-12-31 |
2012 2012-12-31 |
2011 2011-12-31 |
2010 2010-12-31 |
|
Tangible fixed
assets |
9.973.675 |
3.190.922 |
3.503.425 |
3.709 |
|
Financial fixed
assets |
166.569 |
171.906 |
|
231 |
|
Fixed assets |
10.140.244 |
3.362.828 |
3.503.425 |
3.940 |
|
Total stock |
5.115.596 |
5.130.705 |
3.658.833 |
3.019 |
|
Total receivables |
3.463.816 |
3.489.575 |
4.540.507 |
3.497 |
|
Liquid funds |
5.455 |
451 |
361.331 |
71 |
|
Current assets |
8.584.867 |
8.620.731 |
8.560.671 |
6.587 |
|
Total assets |
18.725.111 |
11.983.559 |
12.064.096 |
10.527 |
|
|
||||
|
Issued capital |
500.000 |
500.000 |
500.000 |
500 |
|
Share premium
reserve |
3.026.462 |
3.026.462 |
3.026.462 |
3.026 |
|
Other reserves |
1.239.000 |
544.647 |
508.418 |
835 |
|
Non-distributable
profit |
|
713.764 |
324.885 |
|
|
Total reserves |
4.265.462 |
4.284.873 |
3.859.765 |
3.861 |
|
Total equity |
4.765.462 |
4.784.873 |
4.359.765 |
4.361 |
|
|
||||
|
Provisions |
361.668 |
321.303 |
295.270 |
138 |
|
Long term interest
yielding debt |
5.600.000 |
|
300.000 |
610 |
|
Long term
liabilities |
5.600.000 |
|
300.000 |
610 |
|
Short term
liabilities |
7.997.981 |
6.877.383 |
7.109.061 |
5.418 |
|
Total short and
long term liabilities |
13.959.649 |
7.198.686 |
7.704.331 |
6.166 |
|
Total liabilities |
18.725.111 |
11.983.559 |
12.064.096 |
10.527 |
Summary
The total assets of the company increased with 56.26 % between 2012 and 2013.
The total asset increase is retrievable in the fixed asset growth of 201.54 %.
The asset growth is explained by a reduction of 93.92 % of the company's indebtness, this while, the Net Worth remains unchanged.
In 2013 the assets of the company were 54.15 % composed of fixed assets and 45.85 % by current assets. The assets are being financed by an equity of 25.45 %, and total debt of 74.55 %.
The total assets remained the same between 2011 and 2012.
Despite the fact that the total assets remained the same, the fixed assets decreased with -4.01 %.
Despite thee unchanged assets the net worth grew with 9.75 %, which has resulted in the fact that the company's indebtedness declined with -6.56 %.
In 2012 the assets of the company were 28.06 % composed of fixed assets and 71.94 % by current assets. The assets are being financed by an equity of 39.93 %, and total debt of 60.07 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
|
|
Gross margin |
10.242.477 |
10.596.932 |
10.296.120 |
10.188 |
|
|
|
|||||
|
Wages and salaries |
5.390.291 |
5.171.776 |
4.920.480 |
4.259 |
|
|
Amorization and
depreciation |
748.617 |
768.645 |
864.803 |
829 |
|
|
other operating
costs |
3.742.262 |
4.208.073 |
4.151.215 |
4.817 |
|
|
Operating expenses |
9.881.170 |
10.148.494 |
9.936.498 |
9.905 |
|
|
Result in
subsidiaries |
|
5.865 |
-135.722 |
|
|
|
Operating result |
361.307 |
448.438 |
359.622 |
283 |
|
|
|
|||||
|
Financial income |
|
3.837 |
|
56 |
|
|
Financial expenses |
364.757 |
136.098 |
197.270 |
86 |
|
|
Financial result |
-364.757 |
-132.261 |
-197.270 |
-30 |
|
|
Result on ordinary
operations before taxes |
-3.450 |
322.042 |
26.630 |
253 |
|
|
|
|||||
|
Taxation on the
result of ordinary activities |
29.706 |
-103.066 |
-44.657 |
38 |
|
|
Result of ordinary activities
after taxes |
-33.156 |
425.108 |
71.287 |
215 |
|
|
|
|||||
|
Extraordinary
income |
25.273 |
|
|
|
|
|
Extraordinary
expense |
|
|
35.058 |
|
|
|
Extraordinary
result after taxation |
25.273 |
|
-35.058 |
|
|
|
Result subsidiaries
after taxes |
-11.528 |
|
|
74 |
|
|
Net result |
-19.411 |
425.108 |
36.229 |
289 |
|
Summary
The gross profit of the company decreased by -3.34 % between 2012 and 2013.
The operating result of the company declined with -19.43 % 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 -100.74 % of the analysed period, being equal to 2012 % in the year 2013.
The Net Result of the company increased by -104.57 % 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 -101.04 % of the analysed period, being -0.07 % 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 2.92 % between 2011 and 2012.
The operating result of the company grew with 24.7 % between 2011 and 2012. 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 1122.73 % of the analysed period, being equal to 2011 % in the year 2012.
The Net Result of the company decreased by 1073.39 % between 2011 and 2012.
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 1003.28 % of the analysed period, being 6.73 % in the year 2012.
The company's financial structure has slowed down its financial profitability.
Analysis
Branch (SBI) MANUFACTURE OF
CHEMICALS AND CHEMICAL PRODUCTS (SBI code 20)
Region Limburg
Summary In the Netherlands
1365 of the companies are registered with the SBI code 20
In the region Limburg 121 of the companies
are registered with the SBI code 20
In the Netherlands 17 of the bankrupcties 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 Limburg is normal
Publications
Deposits 20-10-2014: De
jaarrekening over 2013 is gepubliceerd.
22-08-2013: De jaarrekening over 2012 is
gepubliceerd.
24-07-2012: De jaarrekening over 2011 is
gepubliceerd.
Amendments 16-06-2014:
Geplaatst kapitaal gewijzigd in EUR 2.500.000,00 Gestort kapitaal gewijzigd in
EUR 2.500.000,00.
16-06-2014: Per 6-6-2014 statuten gewijzigd.
Company
structure
Relations 2
Company Registration
number
Elgi Rubber Company Limited (Coimbatore 641 005 Tamil)
- - Rubber Resources B.V. (Maastricht)
14633389
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.