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MIRA
INFORM REPORT
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Report No. : |
503141 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
STAHL EUROPE B.V. |
|
|
|
|
Registered Office : |
Sluisweg 10, 5145PE Waalwijk |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
18.04.1955 |
|
|
|
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Com. Reg. No.: |
18107581 |
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|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture of dyes and pigments ·
Manufacture of plastics in primary forms ·
The manufacture
of and the trade in chemical products, in particular leather finishing
products |
|
|
|
|
No. of Employees : |
202 [2017] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
|
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 consistently high trade surplus, stable industrial relations, and low 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 euro zone, 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 80% of banking assets, and is four times the size of Dutch GDP.
In 2008, during the financial crisis, the government budget deficit hit 5.3% of GDP. Following a protracted recession from 2009 to 2013, during which unemployment doubled to 7.4% and household consumption contracted for four consecutive years, economic growth began inching forward in 2014. Since 2010, Prime Minister Mark RUTTE’s government has 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. In 2017, the government budget returned to a surplus of 0.7% of GDP, with economic growth of 3.2%, and GDP per capita finally surpassed pre-crisis levels. The fiscal policy announced by the new government in the 2018-2021 coalition plans for increases in government consumption and public investment, fueling domestic demand and household consumption and investment. The new government’s policy also plans to increase demand for workers in the public and private sector, forecasting a further decline in the unemployment rate, which hit 4.8% in 2017.
|
Source
: CIA |
Company name
|
Name |
Stahl Europe B.V. |
Summary
|
Company name |
Stahl Europe B.V. |
|
Operative
address |
Sluisweg 10 |
|
Status |
Active |
|
Specification |
This company can meet all its obligations. |
|
Legal form |
Private Limited Company |
|
Registration
number |
KvK-nummer: 18107581 |
|
VAT-number |
001188288 |
|
European
VAT-number |
NL001188288B01 |
|
Year |
2016 |
Mutation |
2014 |
Mutation |
2013 |
|
Fixed assets |
321.385.000 |
27,29 |
252.476.000 |
45,60 |
173.398.000 |
|
Total receivables |
145.551.000 |
417,64 |
28.118.000 |
-27,55 |
38.808.000 |
|
Total equity |
220.980.000 |
62,61 |
135.894.000 |
306,70 |
33.414.000 |
|
Short term liabilities |
126.512.000 |
227,17 |
38.669.000 |
-20,91 |
48.893.000 |
|
Net result |
72.162.000 |
||||
|
Working capital |
172.120.000 |
1.731,31 |
-10.551.000 |
-4,62 |
-10.085.000 |
|
Quick ratio |
1,73 |
136,99 |
0,73 |
-7,59 |
0,79 |
Contact information
|
Company name |
Stahl Europe B.V. |
|
Trade names |
Stahl Europe B.V. |
|
Operative
address |
Sluisweg 10 |
|
Correspondence
address |
Postbus 31 |
|
Telephone number |
0416689111 |
|
Fax number |
0416344441 |
|
Email address |
stahl.europe@stahl.com |
|
Website |
www.stahl.com |
Registration
|
Registration
number |
KvK-nummer: 18107581 |
|
Branch number |
000019218419 |
|
VAT-number |
001188288 |
|
European
VAT-number |
NL001188288B01 |
|
Status |
Active |
|
First
registration company register |
1955-08-17 |
|
Memorandum |
1955-04-18 |
|
Establishment
date |
1955-04-18 |
|
Legal form |
Private Limited Company |
|
Legal person
since |
1973-03-13 |
|
Last proposed
admendment |
2016-12-13 |
|
Issued placed
capital |
EUR 49.940 |
|
Paid up share
capital |
EUR 49.940 |
Activities
|
SBI |
2012: Manufacture of dyes and pigments |
|
Exporter |
Yes |
|
Importer |
Yes |
|
Goal |
The manufacture of and the trade in chemical products, in particular leather finishing products |
Relations
|
Shareholders |
Stahl Netherlands B.V. |
|
Shareholders |
Global ultimate owner: |
|
Affiliates |
Stahl International
Specialties Development B.V. Stahl Treasury B.V. Stahl International B.V. Stahl Europe Application PC
B.V. Stahl International Polymer
Development B.V. Stahl International
Compounding B.V. |
|
Companies on
same address (number) |
12 |
|
Liability
statements |
Winvest Part B.V. |
Bank details
|
Accounts |
ABN Amro Bank NV |
Real Estate
|
Details
operative address |
Surface area:
18000 m2 |
Management
|
Active management |
Stahl Holdings B.V. G. Borgart Guido Stahl International Polymer
Development B.V. Stahl International Compounding
B.V. Stahl Europe Application PC
B.V. E. Tessore Enrico R.S.J.C. van Vliet Ramon
Sylvester Johannes Corne C.J.M. Daamen Christiaan
Johannes Maria Stahl International B.V. Badmintonclub Oosterhout B.J. Meijer Ben Johan Stahl Holdings B.V. Stahl International B.V. M. Houtzager Maarten |
Employees
|
Year |
2017 |
2015 |
2012 |
2011 |
2008 |
|
Chamber of Commerce |
202 |
203 |
203 |
203 |
203 |
Payments
|
Description |
Regular |
|
Total |
EUR 209.122 |
|
|
|
Last quarter |
Last year |
||
|
Average payment period (days) |
8 |
30 |
|
|
Average delay (days) |
0 |
9 |
|
|
Quarter |
Volume |
Not overdue |
1-30 |
31-60 |
61-90 |
91-120 |
121+ |
|
2018 Q2 |
B |
100,00% |
0,00% |
0,00% |
0,00% |
0,00% |
0,00% |
|
2018 Q1 |
B |
100,00% |
0,00% |
0,00% |
0,00% |
0,00% |
0,00% |
|
2017 Q4 |
D |
98,00% |
2,00% |
0,00% |
0,00% |
0,00% |
0,00% |
|
2017 Q3 |
D |
96,00% |
4,00% |
0,00% |
0,00% |
0,00% |
0,00% |
|
2017 Q2 |
C |
88,00% |
11,00% |
0,00% |
0,00% |
0,00% |
0,00% |
A = < 10.000, B = < 25.000, C = < 50.000,
D = < 125.000, E = > 125.000
|
Payments within
industry |
Last quarter |
Last year |
|||||
|
Average payment period (days) |
46 |
42 |
|||||
|
Average delay (days) |
18 |
16 |
|||||
|
Quarter |
Not overdue |
1-30 |
31-60 |
61-90 |
91-120 |
121+ |
|
|
2018 Q2 |
60,00% |
27,00% |
9,00% |
3,00% |
1,00% |
1,00% |
|
|
2018 Q1 |
52,00% |
32,00% |
7,00% |
2,00% |
1,00% |
6,00% |
|
|
2017 Q4 |
52,00% |
32,00% |
6,00% |
2,00% |
2,00% |
7,00% |
|
|
2017 Q3 |
58,00% |
34,00% |
6,00% |
1,00% |
1,00% |
1,00% |
|
|
2017 Q2 |
61,00% |
34,00% |
2,00% |
1,00% |
0,00% |
1,00% |
|
The above data is an indication of the average
payment behaviour of the client. the payment experieneces can be affected by
disputes, payment arrangements, etc.
Key figures
|
Year |
2016 |
2014 |
2013 |
2012 |
|
|
Quick ratio |
1,73 |
0,73 |
0,79 |
0,63 |
|
|
Current ratio |
2,36 |
0,73 |
0,79 |
0,63 |
|
|
Working capital/ balance total |
0,28 |
-0,04 |
-0,05 |
-0,10 |
|
|
Equity / balance total |
0,36 |
0,48 |
0,16 |
0,07 |
|
|
Equity / Fixed assets |
0,69 |
0,54 |
0,19 |
0,08 |
|
|
Equity / liabilities |
0,55 |
0,94 |
0,19 |
0,07 |
|
|
Balance total / liabilities |
1,55 |
1,94 |
1,19 |
1,07 |
|
|
Working capital |
172.120.000 |
-10.551.000 |
-10.085.000 |
-19.453.000 |
|
|
Equity |
220.980.000 |
135.894.000 |
33.414.000 |
12.675.000 |
|
|
Mutation equity |
306,70 |
163,62 |
299,98 |
||
|
Mutation short term liabilities |
-20,91 |
-7,13 |
34,94 |
||
|
Return on total assets (ROA) |
15,67 |
||||
|
Return on equity (ROE) |
43,96 |
||||
|
Gross profit margin |
17,03 |
||||
|
Net profit margin |
11,01 |
||||
|
Average collection ratio |
5,18 |
||||
|
Average payment ratio |
4,50 |
||||
|
Equity turnover ratio |
2,97 |
||||
|
Total assets turnover ratio |
1,06 |
||||
|
Fixed assets turnover ratio |
2,04 |
||||
|
Inventory conversion ratio |
8,27 |
||||
|
Turnover |
655.705.000 |
||||
|
Operating result |
111.652.000 |
||||
|
Net result after taxes |
72.162.000 |
||||
|
EBIT |
111.652.000 |
||||
|
Summary |
The 2016 financial result structure is a
postive working captial of 172.120.000 euro, which is in agreement with 28 %
of the total assets of the company. |
Financial statement
|
Last annual account |
2016 |
|
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 |
Winvest Part B.V. |
Balance
|
Year |
2016 |
2014 |
2013 |
2012 |
|
|
End date |
2016-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
|
Type of annual account |
Consol. |
Corporate |
Corporate |
Corporate |
|
|
Intangible fixed
assets |
159.924.000 |
12.560.000 |
|||
|
Tangible fixed
assets |
138.125.000 |
||||
|
Financial fixed
assets |
23.336.000 |
239.916.000 |
173.398.000 |
153.401.000 |
|
|
Fixed assets |
321.385.000 |
252.476.000 |
173.398.000 |
153.401.000 |
|
|
Total stock |
79.294.000 |
||||
|
Accounts receivable |
125.093.000 |
||||
|
Other receivables |
20.458.000 |
28.118.000 |
38.808.000 |
33.192.000 |
|
|
Total
receivables |
145.551.000 |
28.118.000 |
38.808.000 |
33.192.000 |
|
|
Liquid funds |
73.787.000 |
||||
|
accruals |
17.538.000 |
28.118.000 |
38.808.000 |
33.192.000 |
|
|
Current assets |
298.632.000 |
28.118.000 |
38.808.000 |
33.192.000 |
|
|
Total assets |
620.017.000 |
280.594.000 |
212.206.000 |
186.593.000 |
|
|
Issued capital |
18.000 |
18.000 |
18.000 |
||
|
Share premium reserve |
128.201.000 |
100.000 |
100.000 |
||
|
Legal and statutory reserve |
-5.736.000 |
-5.084.000 |
|||
|
Other reserves |
13.411.000 |
-2.729.000 |
17.641.000 |
||
|
Non-distributable profit |
36.025.000 |
||||
|
Total reserves |
135.876.000 |
33.396.000 |
12.657.000 |
||
|
Minority
interests |
101.000 |
||||
|
Total equity |
220.980.000 |
135.894.000 |
33.414.000 |
12.675.000 |
|
|
Long term interest yielding debt |
272.424.000 |
106.031.000 |
129.899.000 |
121.273.000 |
|
|
Long term
liabilities |
272.424.000 |
106.031.000 |
129.899.000 |
121.273.000 |
|
|
Short term
liabilities |
126.512.000 |
38.669.000 |
48.893.000 |
52.645.000 |
|
|
Total short and
long term liabilities |
398.936.000 |
144.700.000 |
178.792.000 |
173.918.000 |
|
|
Total
liabilities |
620.017.000 |
280.594.000 |
212.206.000 |
186.593.000 |
|
|
Summary |
In 2016 the assets of the company were
51.83 % composed of fixed assets and 48.17 % by current assets. The assets
are being financed by an equity of 35.64 %, and total debt of 64.36 %. |
Profit and loss
|
Year |
2016 |
||||
|
Revenues |
649.503.000 |
||||
|
Other operating income |
-6.202.000 |
||||
|
Net turnover |
655.705.000 |
||||
|
Changes in inventories of finished goods
and work in progress |
-6.202.000 |
||||
|
Operating expenses |
537.851.000 |
||||
|
Operating result |
111.652.000 |
||||
|
Financial income |
508.000 |
||||
|
Financial expenses |
15.025.000 |
||||
|
Financial result |
-14.517.000 |
||||
|
Result on
ordinary operations before taxes |
97.135.000 |
||||
|
Taxation on the result of ordinary
activities |
24.973.000 |
||||
|
Result of
ordinary activities after taxes |
72.162.000 |
||||
|
Net result |
72.162.000 |
||||
|
Summary |
The company's Financial Profitability has
been neutrally affected by the financial activities in comparison to the
EBITs behaviour. The result of these variations is the unchanged
profitability of the analysed period, remaining unchanged at 43.96 in the
year 2016. |
Analysis
|
Branch (SBI) |
Manufacture of plastics in primary forms
(SBI code 2016) |
|
Region |
Midden-Noord-Brabant |
|
Summary |
In the Netherlands 1855 of the companies
are registered with the SBI code 2016 |
|
Year |
2016 |
Company |
2014 |
Company |
|
|
Equity |
51.193.208 |
220.980.000 |
54.209.000 |
135.894.000 |
|
|
Working capital |
10.603.956 |
172.120.000 |
8.646.808 |
-10.551.000 |
|
|
Balance total |
97.276.597 |
620.017.000 |
101.235.085 |
280.594.000 |
|
|
Quick ratio |
1,26 |
1,73 |
1,17 |
0,73 |
|
|
Current ratio |
1,70 |
2,36 |
1,59 |
0,73 |
|
|
Equity / balance total |
0,65 |
0,36 |
0,63 |
0,48 |
|
|
Turnover |
82.671.654 |
655.705.000 |
|||
|
Net result |
4.221.845 |
72.162.000 |
|||
Publications
|
Consent
statements |
09-06-2017: Voor boekjaar 2016 is een
instemmingsverklaring gedeponeerd. |
|
Liability
statements |
08-06-2017: Per 02-06-2017 is een
aansprakelijkheidsverklaring door ingetrokken. |
|
Functions |
03-11-2015: Per 01-11-2015 is
gevolmachtigde Thomas Antonius Petrus Marie Maes uit functie getreden. |
|
Other |
15-12-2016: Per 13-12-2016 statuten
gewijzigd. |
Company structure
|
Relations |
12 |
|
Company |
Registration
number |
|
Stahl Group S.A. (L-1142
Luxembourg) |
|
|
| - - Stahl Parent B.V. (Waalwijk) |
|
|
| - - | - - Winvest Part B.V. (AMSTERDAM) |
|
|
| - - | - - | - - Stahl Holdings B.V. (Waalwijk) |
|
|
| - - | - - | - - | - - Stahl Netherlands B.V. (Waalwijk) |
|
|
| - - | - - | - - | - - | - - Stahl International Compounding B.V. (WAALWIJK) |
|
|
| - - | - - | - - | - - | - - Stahl International Polymer Development B.V. (WAALWIJK) |
|
|
| - - | - - | - - | - - | - - Stahl Europe Application PC B.V. (WAALWIJK) |
|
|
| - - | - - | - - | - - | - - Stahl International B.V. (WAALWIJK) |
|
|
| - - | - - | - - | - - | - - Stahl Treasury B.V. (WAALWIJK) |
|
|
| - - | - - | - - | - - | - - Stahl International Specialties Development B.V. (WAALWIJK) |
|
|
| - - | - - | - - | - - | - - Stahl Europe B.V. (Waalwijk) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
|
Euro |
1 |
INR 79.96 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.