MIRA INFORM REPORT

Report No. :	502553
Report Date :	10.04.2018

IDENTIFICATION DETAILS

Name :	UBER B.V.
Registered Office :	Mr. Treublaan 7, 1097DP Amsterdam
Country :	Netherlands
Financials (as on) :	31.12.2016
Date of Incorporation :	24.10.2012
Com. Reg. No.:	56317441
Legal Form :	Private Limited Company
Line of Business :	· Other information technology and computer service activities · Support activities for the own enterprise group · Facilitate and enter into contracts for on-demand services
No. of Employees :	48

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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
Moderately High Risk	C1
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 and address

Name

Uber B.V.

Summary

Company name	Uber B.V.
Operative address	Mr. Treublaan 7 1097DP AMSTERDAM Netherlands
Status	Active
Specification	This company can meet all its obligations.

Legal form	Private Limited Company
Registration number	KvK-nummer: 56317441
VAT-number	852071589
European VAT-number	NL852071589B01

Year	2016	Mutation	2015	Mutation	2014
Fixed assets	634.393.586	239,45	186.890.798	5.298,06	3.462.183
Total receivables	1.667.222.971	172,78	611.185.853	153.279,69	398.479
Total equity	96.921.585	11.446,08	-854.230	-132,40	2.636.581
Short term liabilities	2.199.531.324	63,21	1.347.640.383	24.814,13	5.409.141
Net result	17.570.447	338,84	4.003.858
Working capital	95.335.397	156,84	-167.721.145	-20.215,01	-825.602
Quick ratio	1,04	18,18	0,88	3,53	0,85

Contact information

Company name	Uber B.V.
Trade names	Uber B.V.
Operative address	Mr. Treublaan 7 1097DP AMSTERDAM Netherlands
Correspondence address	Mr. Treublaan 7 1097DP AMSTERDAM Netherlands

Registration

Registration number	KvK-nummer: 56317441
Branch number	000025881558
VAT-number	852071589
European VAT-number	NL852071589B01
Status	Active
First registration company register	2012-10-24
Memorandum	2012-10-24
Establishment date	2012-10-24

Legal form	Private Limited Company
Last proposed admendment	2015-07-16
Issued placed capital	EUR 1
Paid up share capital	EUR 1

Activities

SBI	6209: Other information technology and computer service activities 70101: Support activities for the own enterprise group
Exporter	No
Importer	No

Goal	Het faciliteren en aangaan van contracten voor on-demand diensten

Relations

Shareholders

Uber International B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55808646 Percentage: 100%

Affiliates

Uber International Holding B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55976255 Besitz Holding B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 60470232 Uber Portier B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 65851307 Uber Philippines B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 63717913 Uber Pacific Holdings B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 64685578

Companies on same address (number)	45
Liability statements	Uber International B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55808646 date of issue: 2016-09-22 Starting date: 2016-09-15

Real Estate

Details operative address

Surface area: 34416 m2 Purpose: Office function Construction year: 1984 Status: Building in use Under investigation: No

Management

Active management

Uber Management B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 64518981 Competence: Fully authorized Function: Manager Starting date: 2016-03-30 Uber International B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55808646 Competence: Fully authorized Function: Manager Starting date: 2012-12-03 P.D.N. Gore Pierre- Dimitri- Nicolas Netherlands Competence: Fully authorized Function: Manager Starting date: 2016-08-02 Date of birth: 1984-10-02, La Garenne-Colombes, FR Involved with the following companies: Besitz Ein B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 66696550 Function: Manager Starting date: 2016-08-24 Uber Management B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 64518981 Function: Manager Starting date: 2016-08-03 R. van der Woude Rob Koolwitjestraat 36 1432NB Aalsmeer Netherlands Competence: Fully authorized Function: Manager Starting date: 2015-10-12 Date of birth: 1984-10-29, Wognum, NL Involved with the following companies: Tax Compliance Services Ecuplein 36 1060RN AMSTERDAM Netherlands Registration number: 55109322 Status: Dissolved Function: Partner Starting date: 2012-04-16 Uber International Holding B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55976255 Function: Manager Starting date: 2015-10-12 Uber Portier B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 65851307 Function: Manager Starting date: 2017-03-16 Uber Management B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 64518981 Function: Manager Starting date: 2015-11-09 J.P.J. Cordonnier Julien Pierre Jacques Netherlands Competence: Fully authorized Function: Manager Starting date: 2017-12-20 Date of birth: 1977-11-18, Compiègne, FR Involved with the following companies: Uber International B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55808646 Function: Manager Starting date: 2017-12-19 Uber Management B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 64518981 Function: Manager Starting date: 2017-12-19 D.A. Watt David Alan Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-03-31 Date of birth: 1977-03-08, Alaska, US F.P. Chadwick Francois Pascal 135 Beulah Street San Francisco California 94117Verenigde Staten van Amerika Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-03-31 Date of birth: 1973-01-21, Burnley, GB Involved with the following companies: Uber International C.V. Canon's Court 22 Victoria Street Hamilton HM 12 Bermuda Netherlands Registration number: 58046143 Function: Proxy Starting date: 2017-04-06

Employees

Year	2017	2016	2015	2014
Chamber of Commerce	48	48	48	0

Payments

Description	Regular
Payments within industry	Last quarter	Last year
Average payment period (days)	41	37
Average delay (days)	27	23

Quarter	Not overdue	1-30	31-60	61-90	91-120	121+
2018 Q2	49,00%	45,00%	2,00%	1,00%	1,00%	2,00%
2018 Q1	49,00%	45,00%	2,00%	1,00%	1,00%	2,00%
2017 Q4	58,00%	32,00%	3,00%	4,00%	2,00%	1,00%
2017 Q3	58,00%	34,00%	3,00%	1,00%	1,00%	2,00%
2017 Q2	60,00%	37,00%	1,00%	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	2015	2014	2013	2012
Quick ratio	1,04	0,88	0,85	0,97	0,16
Current ratio	1,04	0,88	0,85	0,97	0,16
Working capital/ balance total	0,03	-0,12	-0,10	-0,03	-3,82
Equity / balance total	0,03	0,00	0,33	-0,03	-9,48
Equity / Fixed assets	0,15	0,00	0,76	-4,97	-36,38
Equity / liabilities	0,03	0,00	0,49	-0,03	-0,90
Balance total / liabilities	1,03	1,00	1,49	0,97	0,10
Working capital	95.335.397	-167.721.145	-825.602	-685.772	-366.452
Equity	96.921.585	-854.230	2.636.581	-570.989	-910.317
Mutation equity	11.446,08	-132,40	561,76	37,28
Mutation short term liabilities	63,21	24.814,13	-76,17	5.090,10
Return on total assets (ROA)	1,63	1,68
Return on equity (ROE)	49,33	-2.685,27
Gross profit margin	7,19	14,69
Net profit margin	1,14	0,84
Average collection ratio	0,70	0,35
Average payment ratio	0,92	0,78
Equity turnover ratio	15,88	-558,89
Total assets turnover ratio	0,53	0,35
Fixed assets turnover ratio	2,43	2,55
Turnover	1.538.795.823	477.418.968
Gross margin	669.499.378	-158.006.806
Operating result	110.697.324	70.153.398
Net result after taxes	17.570.447	4.003.858
Gross profit	1.538.795.823	477.418.968
EBIT	110.697.324	70.153.398

Summary

The 2016 financial result structure is a postive working captial of 95.335.397 euro, which is in agreement with 3 % of the total assets of the company. The working capital has increased with 156.84 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The improvement between 2015 and 2016 has mainly been caused by a change of the current assets. The current ratio of the company in 2016 was 1.04. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2016 of the company was 1.04. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities. The 2015 financial result structure is a negative working captial of -167.721.145 euro, which is in agreement with -12 % of the total assets of the company. The working capital has diminished with -20215.01 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined. The deterioration between 2014 and 2015 has mainly been caused by a change of the current assets. The current ratio of the company in 2015 was 0.88. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2015 of the company was 0.88. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

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	Uber International B.V. Mr. Treublaan 7 1097DP AMSTERDAM Netherlands Registration number: 55808646

Balance

Year	2016	2015	2014	2013	2012
End date	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Type of annual account	Consol.	Consol.	Corporate	Corporate	Corporate
Tangible fixed assets	620.498.314	182.862.140	2.097.856	53.713
Financial fixed assets	13.895.272	4.028.658	1.364.327	61.071	25.023
Fixed assets	634.393.586	186.890.798	3.462.183	114.784	25.023
Total receivables	1.667.222.971	611.185.853	398.479	21.730.411	52.896
Liquid funds	627.643.749	568.733.385	4.185.061	287.131	18.087
Current assets	2.294.866.721	1.179.919.238	4.583.539	22.017.542	70.983
Total assets	2.929.260.307	1.366.810.036	8.045.722	22.132.325	96.006
Issued capital			18.017	17.983	18.000
Share premium reserve			1.332.644	172.454
Other reserves			1.285.920	-761.426
Non-distributable profit					-928.317
Total reserves			2.618.564	-588.972	-928.317
Total equity	96.921.585	-854.230	2.636.581	-570.989	-910.317
Provisions	22.082.354	20.023.883			568.888
Long term interest yielding debt	610.725.044
Long term liabilities	610.725.044
Short term liabilities	2.199.531.324	1.347.640.383	5.409.141	22.703.314	437.435
Total short and long term liabilities	2.832.338.722	1.367.664.266	5.409.141	22.703.314	1.006.323
Total liabilities	2.929.260.307	1.366.810.036	8.045.722	22.132.325	96.006

Summary

The total assets of the company increased with 114.31 % between 2015 and 2016. The total asset increase is retrievable in the fixed asset growth of 239.45 %. The asset growth has mainly been financed by a Net Worth increase of 11446.08 %. Debt, however, grew with 107.09 %. In 2016 the assets of the company were 21.66 % composed of fixed assets and 78.34 % by current assets. The assets are being financed by an equity of 3.31 %, and total debt of 96.69 %. The total assets of the company increased with 16888.03 % between 2014 and 2015. The fixed asset growth of 5298.06 % is lower than the total asset growth. Asset growth is in contrasts with the net worth decline of -132.4 %. The company's indebtedness has, therefore, increased with 25184.32 %. In 2015 the assets of the company were 13.67 % composed of fixed assets and 86.33 % by current assets. The assets are being financed by an equity of -0.06 %, and total debt of 100.06 %.

Profit and loss

Year	2016	2015
Revenues	2.671.327.365	1.424.852.659
Other operating income	1.132.531.542	947.433.691
Net turnover	1.538.795.823	477.418.968
Gross margin	669.499.378	-158.006.806
Sales	1.691.333.597	719.273.487
Operating expenses	2.560.630.042	1.354.699.261
Operating result	110.697.324	70.153.398
Financial income	4.429.373	367.411
Financial expenses	67.318.119	47.582.441
Financial result	-62.888.746	-47.215.030
Result on ordinary operations before taxes	47.808.577	22.938.368
Taxation on the result of ordinary activities	30.238.130	18.934.510
Result of ordinary activities after taxes	17.570.447	4.003.858
Net result	17.570.447	4.003.858

Summary

The turnover of the company grew with 222.32 % between 2015 and 2016. The gross profit of the company grew with 523.72 % between 2015 and 2016. The operating result of the company grew with 57.79 % between 2015 and 2016. This evolution implies an increase of the company's economic profitability. The result of these changes is a reduction of the company's Economic Profitability of -2.98 % of the analysed period, being equal to 1.63 in the year 2016. Despite the decline the assets turnover increased by 51.43 % reaching 0.53. The Net Result of the company increased by 338.84 % between 2015 and 2016. 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 101.84 % of the analysed period, being 49.33 in the year 2016. The company's financial structure has slowed down its financial profitability. 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 -2685.27 in the year 2015.

Analysis

Branch (SBI)	Other information technology and computer service activities (SBI code 6209)
Region	Groot-Amsterdam
Summary	In the Netherlands 15144 of the companies are registered with the SBI code 6209 In the region Groot-Amsterdam 2241 of the companies are registered with the SBI code 6209 In the Netherlands 33 of the bankrupcties are published within this sector In the region Groot-Amsterdam 6 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

Year	2016	Company	2015	Company	2014
Equity	17.676.626	96.921.585	20.096.383	-854.230	25.891.261
Working capital	6.675.013	95.335.397	6.587.121	-167.721.145	10.433.100
Balance total	42.490.237	2.929.260.307	57.140.107	1.366.810.036	53.363.436
Quick ratio	1,31	1,04	1,34	0,88	1,24
Current ratio	1,33	1,04	1,36	0,88	1,24
Equity / balance total	0,36	0,03	0,43	0,00	0,40
Turnover	106.496.159	1.538.795.823	75.142.765	477.418.967
Net result	2.046.601	17.570.447	1.939.449	4.003.858

Publications

Consent statements	29-03-2018: Voor boekjaar 2016 is een instemmingsverklaring gedeponeerd. 05-10-2016: Voor boekjaar 2015 is een instemmingsverklaring gedeponeerd.
Liability statements	23-09-2016: Per 22-09-2016 is een aansprakelijkheidsverklaring door Uber International B.V. gedeponeerd.
Deposits	04-02-2016: De jaarrekening over 2014 is gepubliceerd. 02-02-2015: De jaarrekening over 2013 is gepubliceerd. 10-02-2014: De jaarrekening over 2012 is gepubliceerd.
Functions	28-12-2017: Per 14-12-2017 is bestuurder Sujoy Kumar Haldar uit functie getreden. 25-12-2017: Per 20-12-2017 is bestuurder Julien Pierre Jacques Cordonnier in functie getreden. 24-11-2017: Per 21-11-2017 is gevolmachtigde Eric Daniel Mah uit functie getreden. 13-04-2017: Per 31-03-2017 is gevolmachtigde Eric Daniel Mah in functie getreden. 13-04-2017: Per 31-03-2017 is gevolmachtigde Francois Pascal Chadwick in functie getreden. 13-04-2017: Per 31-03-2017 is gevolmachtigde David Alan Watt in functie getreden. 08-09-2016: Per 25-08-2016 is bestuurder Sujoy Kumar Haldar in functie getreden. 12-08-2016: Per 02-08-2016 is bestuurder Pierre- Dimitri- Nicolas Gore in functie getreden. 08-06-2016: Per 09-05-2016 is gevolmachtigde Walterus Petrus Hendrikus Kolk uit functie getreden. 08-04-2016: Per 30-03-2016 is bestuurder 64518981 Uber Management B.V. in functie getreden. 08-04-2016: Per 31-03-2016 is bestuurder Karen Sammis Walker uit functie getreden. 02-11-2015: Per 12-10-2015 is bestuurder Rob van der Woude in functie getreden. 02-11-2015: Per 20-10-2015 is bestuurder Niall Fraser Wass uit functie getreden. 02-11-2015: Per 30-09-2015 is bestuurder Axel Martinez uit functie getreden. 18-02-2015: Per 19-01-2015 is bestuurder Niall Fraser Wass in functie getreden. 18-02-2015: Per 19-01-2015 is gevolmachtigde Niall Fraser Wass uit functie getreden. 12-01-2015: Per 01-12-2014 is gevolmachtigde Niall Fraser Wass in functie getreden. 09-12-2014: Per 01-12-2014 is bestuurder Zachary de Kievit uit functie getreden. 03-06-2014: Per 30-05-2014 is bestuurder Zachary de Kievit in functie getreden. 09-04-2014: Per 03-04-2014 is bestuurder Karen Sammis Walker in functie getreden. 09-04-2014: Per 03-04-2014 is bestuurder Axel Martinez in functie getreden. 09-04-2014: Per 03-04-2014 is bestuurder Ryan Allan Graves uit functie getreden.
Other	20-07-2015: Per 16-7-2015 statuten gewijzigd.

Company structure

Relations	15
Company	Registration number
Neben, LLC (San Francisco CA 94103)
| - - Uber International B.V. (AMSTERDAM)	55808646
| - - | - - Uber Pacific Holdings B.V. (AMSTERDAM)	64685578
| - - | - - Uber Philippines B.V. (AMSTERDAM)	63717913
| - - | - - Uber Portier B.V. (AMSTERDAM)	65851307
| - - | - - Besitz Holding B.V. (AMSTERDAM)	60470232
| - - | - - | - - Besitz B.V. (AMSTERDAM)	66090571
| - - | - - | - - | - - Besitz Ein B.V. (AMSTERDAM)	66696550
| - - | - - | - - Mieten B.V. (AMSTERDAM)	59168072
| - - | - - Uber B.V. (AMSTERDAM)	56317441
| - - | - - Uber International Holding B.V. (AMSTERDAM)	55976255
| - - | - - | - - Uber Motorbike B.V. (AMSTERDAM)	65074289
| - - | - - | - - Uber Netherlands B.V. (AMSTERDAM)	56193386
| - - | - - | - - Uber 4 Business B.V. (AMSTERDAM)	58823778
| - - | - - | - - Rasier Operations B.V. (AMSTERDAM)	59888261

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.93
UK Pound	1	INR 91.50
Euro	1	INR 79.69
Euro	1	INR 80.06

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.