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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

503444

Report Date :

11.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ZENITH RUBBER EUROPE COÖPERATIEF U.A.

 

 

Registered Office :

Remmerden 19 F, 3911TZ Rhenen

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

23.06.2011

 

 

Com. Reg. No.:

53020138

 

 

Legal Form :

Cooperation

 

 

Line of Business :

Wholesale of Other Intermediary Products N.E.C.

 

 

No. of Employees :

2 [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

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

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

 

 

Summary

 

Company name

ZENITH RUBBER EUROPE COÖPERATIEF U.A.

Operative address

Remmerden 19 F
3911TZ Rhenen
Netherlands

Status

Active

 

Legal form

Cooperation

Registration number

KvK-nummer: 53020138

VAT-number

850710923

 

 

Year

2017

Mutation

2016

Mutation

2015

Fixed assets

18.180

-21,70 

23.218

-23,08 

30.186

Total receivables

682.275

47,75 

461.771

17,11 

394.313

Total equity

524.352

245,75 

151.656

474,78 

26.385

Short term liabilities

2.019.899

-0,20 

2.023.995

-1,19 

2.048.466

Working capital

506.172

294,10 

128.438

3.479,06 

-3.801

Quick ratio

0,34

47,83 

0,23

15,00 

0,20

 

 

Description: http://kredietinformatie.creditdevice.nl/cache/ci-report-1342644-EN/SUMMARY-01-bar-large.png

 

 

Contact information

 

Company name

ZENITH RUBBER EUROPE COÖPERATIEF U.A.

Trade names

ZENITH RUBBER EUROPE COÖPERATIEF U.A.

Operative address

Remmerden 19 F
3911TZ RHENEN
Netherlands

Correspondence address

Remmerden 19 F
3911TZ RHENEN
Netherlands

 

Telephone number

0317-616516

 

 

Registration

 

Registration number

KvK-nummer: 53020138

Branch number

000022906347

VAT-number

850710923

Status

Active

First registration company register

2011-06-23

Memorandum

2011-06-23

Establishment date

2011-06-23

 

Legal form

Cooperation

Last proposed admendment

2012-11-28

 

 

Activities

 

SBI

46769: Wholesale of other intermediary products n.e.c.

Exporter

Yes

Importer

Yes

 

Goal

Import, export en groothandel in rubber en gelieerde producten; deelnemen in andere ondernemingen en vennootschappen

 

 

Management

 

Active management

Arbon Holding B.V.
Remmerden 19 F
3911TZ Rhenen
Netherlands
Registration number: 52838587
Competence: Jointly authorized
Function: Manager
Starting date: 2011-06-23

 

MJJ Holding Veenendaal B.V.
Kamperfoelie 16
3904LP VEENENDAAL
Netherlands
Registration number: 30153080
Competence: Jointly authorized
Function: Manager
Starting date: 2011-06-23

 

 

Employees

 

Year

2017

2016

2015

2014

Annual

2

1

1

Chamber of Commerce

0

0

 

 

Description: http://kredietinformatie.creditdevice.nl/cache/ci-report-1342644-EN/EMPLOYEES-01-bar-large.png

 

 

Payments

 

Score

6,7

Description

No complaints

Payments within industry

Last quarter

Last year

Average payment period (days)

28

25

Average delay (days)

9

8

 

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q2

42,00%

57,00%

1,00%

0,00%

0,00%

0,00%

2018 Q1

51,00%

33,00%

15,00%

0,00%

0,00%

1,00%

2017 Q4

76,00%

23,00%

1,00%

0,00%

0,00%

0,00%

2017 Q3

44,00%

40,00%

14,00%

0,00%

0,00%

1,00%

2017 Q2

71,00%

26,00%

2,00%

1,00%

0,00%

0,00%

 

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

2017

2016

2015

2014

2013

Quick ratio

0,34

0,23

0,20

0,01

0,03

Current ratio

1,25

1,06

1,00

0,01

0,03

Working capital/ balance total

0,20

0,06

0,00

-115,06

-36,75

Equity / balance total

0,21

0,07

0,01

-115,06

-36,75

Equity / Fixed assets

28,84

6,53

0,87

Equity / liabilities

0,26

0,07

0,01

-0,99

-0,97

Balance total / liabilities

1,26

1,07

1,01

0,01

0,03

Working capital

506.172

128.438

-3.801

-32.103

-38.257

Equity

524.352

151.656

26.385

-32.103

-38.257

Mutation equity

245,75

474,78

182,19

16,09

-315,97

Mutation short term liabilities

-0,20

-1,19

6.225,94

-17,60

-84,65

Summary

The 2017 financial result structure is a postive working captial of 506.172 euro, which is in agreement with 20 % of the total assets of the company.
The working capital has increased with 294.1 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2016 and 2017 has mainly been caused by a change of the current assets.
The current ratio of the company in 2017 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 2017 of the company was 0.34. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2016 financial result structure is a postive working captial of 128.438 euro, which is in agreement with 6 % of the total assets of the company.
The working capital has increased with 3479.06 % 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 1.06. 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 0.23. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

Description: http://kredietinformatie.creditdevice.nl/cache/ci-report-1342644-EN/KEYFIGURES-01-bar-large.png

 

 

Description: http://kredietinformatie.creditdevice.nl/cache/ci-report-1342644-EN/KEYFIGURES-02-bar-large.png

 

 

Financial statement

 

Last annual account

2017

Remark annual account

There is no financial data published

Type of annual account

Corporate

Annual account

Zenith Rubber Europe Coöperatief U.A.
Remmerden 19 F
3911TZ RHENEN
Netherlands
Registration number: 53020138

 

 

Balance

 

Year

2017

2016

2015

2014

2013

End date

2017-12-31

2016-12-31

2015-12-31

2014-12-31

2013-12-31

Type of annual account

Corporate

Corporate

Corporate

Corporate

Corporate

Tangible fixed assets

18.180

23.218

30.186

Fixed assets

18.180

23.218

30.186

Total stock

1.843.796

1.681.678

1.627.777

Total receivables

682.275

461.771

394.313

58

96

Liquid funds

8.984

22.575

221

945

Current assets

2.526.071

2.152.433

2.044.665

279

1.041

Total assets

2.544.251

2.175.651

2.074.851

279

1.041

Issued capital

20.000

20.000

20.000

20.000

20.000

Other reserves

504.352

131.656

6.385

-52.103

-58.257

Total reserves

504.352

131.656

6.385

-52.103

-58.257

Total equity

524.352

151.656

26.385

-32.103

-38.257

Short term liabilities

2.019.899

2.023.995

2.048.466

32.382

39.298

Total short and long term liabilities

2.019.899

2.023.995

2.048.466

32.382

39.298

Total liabilities

2.544.251

2.175.651

2.074.851

279

1.041

Summary

The total assets of the company increased with 16.94 % between 2016 and 2017.
Despite the assets growth, the non current assets decreased with -21.7 %.
In 2017 the assets of the company were 0.71 % composed of fixed assets and 99.29 % by current assets. The assets are being financed by an equity of 20.61 %, and total debt of 79.39 %.

The total assets of the company increased with 4.86 % between 2015 and 2016.
Despite the assets growth, the non current assets decreased with -23.08 %.
The assets growth has been financed by a Net Worth increase of 474.78 %. The company's net increase has also covered a reduction of -1.19 % of the company's indebtedness.
In 2016 the assets of the company were 1.07 % composed of fixed assets and 98.93 % by current assets. The assets are being financed by an equity of 6.97 %, and total debt of 93.03 %.

Description: http://kredietinformatie.creditdevice.nl/cache/ci-report-1342644-EN/BALANCESHEETS-01-bar-large.png

 

 

 

Description: http://kredietinformatie.creditdevice.nl/cache/ci-report-1342644-EN/BALANCESHEETS-02-bar-large.png

 

 

Analysis

 

Branch (SBI)

Wholesale of other intermediary products n.e.c. (SBI code 46769)

Region

Utrecht

Summary

In the Netherlands 772 of the companies are registered with the SBI code 46769
In the region Utrecht 54 of the companies are registered with the SBI code 46769
In the Netherlands 2 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 Utrecht is normal

 

 

Year

2017

Company

2016

Company

2015

Equity

1.776.173

524.352 

1.750.213

151.656 

1.698.465

Working capital

1.192.367

506.172 

1.029.035

128.438 

1.123.521

Balance total

3.769.937

2.544.251 

3.652.645

2.175.651 

3.568.457

Quick ratio

1,23

0,34 

1,16

0,23 

1,10

Current ratio

1,60

1,25 

1,77

1,06 

1,79

Equity / balance total

0,41

0,21 

0,43

0,07 

0,49

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.94

UK Pound

1

INR 91.75

Euro

1

INR 79.90

Euro

1

INR 80.91

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TPT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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