MIRA INFORM REPORT

Report No. :	484192
Report Date :	03.01.2018

IDENTIFICATION DETAILS

Name :	GLENCORE AGRICULTURE B.V.
Registered Office :	Blaak 31, 3011GA Rotterdam
Country :	Netherlands
Financials (as on) :	31.12.2016
Date of Incorporation :	09.04.1980
Com. Reg. No.:	24138640
Legal Form :	Private Limited Company
Line of Business :	Wholesale of grain
No. of Employees :	287 [2016]

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 :	Satisfactory
Payment Behaviour :	Slow and delayed
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 (30.06.2017)	Current Rating (30.09.2017)
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 persistently 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 2016, the government budget returned to a surplus of 0.3% of GDP, with economic growth of 2.1%, and GDP per capita finally surpassed pre-crisis levels. The Dutch government projects steady but modest economic growth of 2.1% in 2017 and unemployment decreasing to 4.9%.

Source : CIA

Company name

Name	Glencore Agriculture B.V.

Summary

Company name	Glencore Agriculture B.V.
Operative address	Blaak 31 3011GA Rotterdam Netherlands
Status	Active
Specification	This company can meet all its obligations.

Legal form	Private Limited Company
Registration number	KvK-nummer: 24138640
VAT-number	005199542
European VAT-number	NL005199542B01

Year	2016	Mutation	2015	Mutation	2014
Fixed assets	3.513.898	-73,71	13.363.645	177,77	4.810.969
Total receivables	1.942.885.807	1,36	1.916.849.565	3,87	1.845.403.092
Total equity	254.507.154	8,54	234.484.261	20,61	194.422.933
Short term liabilities	1.965.288.804	17,67	1.670.172.780	2,03	1.636.877.538
Net result	14.832.558	-4,28	15.495.546	44,92	10.692.689
Working capital	260.365.231	-56,16	593.900.099	13,26	524.375.822
Quick ratio	1,01	-16,53	1,21	3,42	1,17

Contact information

Company name	Glencore Agriculture B.V.
Trade names	Glencore Agriculture B.V. Glencore Grain Viterra Grain Viterra Agriculture
Operative address	Blaak 31 3011GA Rotterdam Netherlands
Correspondence address	Postbus 1120 3000BC Rotterdam Netherlands

Telephone number	0104044400
Fax number	0104129635
Email address	hr.rotterdam@glencore.com

Registration

Registration number	KvK-nummer: 24138640
Branch number	000017838428
VAT-number	005199542
European VAT-number	NL005199542B01
Status	Active
First registration company register	1980-04-09
Memorandum	1980-04-09
Establishment date	1980-04-09

Legal form	Private Limited Company
Last proposed admendment	2016-12-01
Issued placed capital	EUR 16.518.150
Paid up share capital	EUR 16.518.150

Activities

SBI	46211: Wholesale of grain
Exporter	Yes
Importer	Yes

Branche organisations	KVNR - Koninklijke Vereniging van Nederlandse Reders
Goal	De handel, daaronder begrepen de termijnhandel, commissiehandel, agenturen, im- en export en distributie, zowel voor eigen rekening als voor rekening van derden, in alle goederen, in het bijzonder in produkten, grondstoffen, energiedragers en halffabrikaten

Relations

Companies on same address (number)

150

Real Estate

Details operative address

Surface area: 24914 m2 Purpose: Meeting function, Office function Construction year: 2010 Status: Building in use Under investigation: No

Management

Active management

C.J. Mahoney Christopher John Netherlands Competence: Jointly authorized Function: Manager Starting date: 2005-08-31 Date of birth: 1959-01-02, Edmonton, GB Involved with the following companies: Stichting Beheer Elca Sumatrastraat 253 2585CR 'S-GRAVENHAGE Netherlands Registration number: 67501389 Function: Manager Starting date: 2016-12-16 Stichting Mahoney Foundation Kwekerijweg 21 2597JL 'S-GRAVENHAGE Netherlands Registration number: 56757050 Function: Chairman Starting date: 2012-12-27 A.P. Hubmann Andreas Peter Netherlands Competence: Jointly authorized Function: Manager Starting date: 2005-08-31 Date of birth: 1966-10-11, Bichelsee-Balterswil, CH Involved with the following companies: Glencore International Import B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24436992 Function: Manager Starting date: 2008-05-28 Castilun B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 53323742 Function: Manager Starting date: 2011-08-11 Glencore Biofuels B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24459057 Function: Manager Starting date: 2009-04-24 Green Fuel Trade Management B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24402620 Function: Manager Starting date: 2007-06-01 Firada B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 64011682 Function: Manager Starting date: 2015-08-04 Helior B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 64011526 Function: Manager Starting date: 2015-08-04 Latour Benelux B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24142440 Function: Manager Starting date: 2009-06-04 Glencore (Nederland) B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34143409 Function: Manager Starting date: 2013-08-28 Glencore Netherlands B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24142438 Function: Manager Starting date: 2005-01-01 Novaly B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 67279554 Function: Manager Starting date: 2016-11-15 Viterra Europe Coöperatie U.A. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34318920 Function: Manager Starting date: 2012-12-17 Viterra Global Finance B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34385989 Function: Manager Starting date: 2012-12-17 Piruto B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50629220 Function: Manager Starting date: 2010-08-16 Miloran B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50417363 Function: Manager Starting date: 2010-07-15 Pefulio B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 55300723 Function: Manager Starting date: 2012-05-14 Lurai B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 55895336 Function: Manager Starting date: 2012-08-17 Dremalo B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24459055 Function: Manager Starting date: 2009-04-24 Andorsi B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50628224 Function: Manager Starting date: 2010-08-16 Renaisco B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24257792 Function: Manager Starting date: 2006-04-01 E.C.B. Mostert Ernest Christian Barend Netherlands Competence: Jointly authorized Function: Manager Starting date: 2006-05-01 Date of birth: 1964-08-18, Pretoria, ZA Involved with the following companies: BIOPETROL MARKETING B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24490313 Status: Dissolved Function: Manager Starting date: 2010-03-18 Glencore International Import B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24436992 Function: Manager Starting date: 2008-05-28 Castilun B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 53323742 Function: Manager Starting date: 2011-08-11 Glencore Grain Rotterdam B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24141798 Function: Manager Starting date: 2006-05-01 Glencore Agri Finance B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24439643 Function: Manager Starting date: 2008-07-10 Glencore Biofuels B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24459057 Function: Manager Starting date: 2009-04-24 Green Fuel Trade Management B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24402620 Function: Manager Starting date: 2007-06-01 Access World (Europe) B.V. Shannonweg 76 3197LH BOTLEK ROTTERDAM Netherlands Registration number: 53269624 Function: Manager Starting date: 2011-08-01 Firada B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 64011682 Function: Manager Starting date: 2015-08-04 Helior B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 64011526 Function: Manager Starting date: 2015-08-04 Ammizinc B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 33275895 Function: Manager Starting date: 2006-05-01 Finges Investment B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 34119432 Function: Manager Starting date: 2006-05-01 Latour Benelux B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24142440 Function: Manager Starting date: 2006-05-01 Glencore (Nederland) B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34143409 Function: Manager Starting date: 2013-08-28 Glencore Netherlands B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24142438 Function: Manager Starting date: 2006-02-28 Novaly B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 67279554 Function: Manager Starting date: 2016-11-15 Viterra Europe Coöperatie U.A. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34318920 Function: Manager Starting date: 2012-12-17 Viterra Global Finance B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34385989 Function: Manager Starting date: 2012-12-17 Stichting MECB Bezit Frankenslag 76 2582HT 'S-GRAVENHAGE Netherlands Registration number: 61943363 Function: Manager Starting date: 2014-11-21 Piruto B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50629220 Function: Manager Starting date: 2010-08-16 Miloran B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50417363 Function: Manager Starting date: 2010-07-15 Grawaco B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24464763 Function: Manager Starting date: 2009-06-24 Pefulio B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 55300723 Function: Manager Starting date: 2012-05-14 Lurai B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 55895336 Function: Manager Starting date: 2012-08-17 Dremalo B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24459055 Function: Manager Starting date: 2009-04-24 Andorsi B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50628224 Function: Manager Starting date: 2010-08-16 Barrint Benelux B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24145939 Function: Manager Starting date: 2006-05-01 Renaisco B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24257792 Function: Manager Starting date: 2006-04-01 Glencore Industries The Netherlands B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24381333 Function: Manager Starting date: 2005-07-27 A.F.S. van Hoorn Adrianus Frederik Sébastian Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-07-17 Date of birth: 1976-12-24, Oud-Beijerland, NL S. de Bruin Stanley Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-03-24 Date of birth: 1964-02-18, Rotterdam, NL M.J. Pattenier Michaëla Johanna Linus Paulingweg 9 3069NM Rotterdam Netherlands Competence: Limited authorization Function: Proxy Starting date: 2005-09-12 Date of birth: 1964-05-08, Schiedam, NL Involved with the following companies: BIOPETROL MARKETING B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24490313 Status: Dissolved Function: Proxy Starting date: 2010-03-22 Glencore International Import B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24436992 Function: Proxy Starting date: 2008-06-10 BIOPETROL ROTTERDAM B.V. Welplaatweg 108 3197KS Botlek Rotterdam Netherlands Registration number: 24393738 Function: Proxy Starting date: 2010-11-15 R. Jansen Robert Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1960-12-31, Rotterdam, NL R.J.D. Klein Richard Jozef Daniel Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1968-03-24, 's-Gravenhage, NL S.M. Kosorog Sylvie Marie-claire Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1964-04-02, Tonnerre, FR Involved with the following companies: Glencore International Import B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24436992 Function: Manager Starting date: 2013-09-16 Castilun B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 53323742 Function: Manager Starting date: 2013-09-16 Glencore Grain Rotterdam B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24141798 Function: Manager Starting date: 2013-09-16 Glencore Agri Finance B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24439643 Function: Manager Starting date: 2013-09-16 Glencore Biofuels B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24459057 Function: Manager Starting date: 2013-09-16 Green Fuel Trade Management B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24402620 Function: Manager Starting date: 2013-09-16 Firada B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 64011682 Function: Manager Starting date: 2015-08-04 Helior B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 64011526 Function: Manager Starting date: 2015-08-04 Ammizinc B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 33275895 Function: Manager Starting date: 2013-09-16 Finges Investment B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 34119432 Function: Manager Starting date: 2013-09-17 Latour Benelux B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24142440 Function: Manager Starting date: 2013-09-16 Glencore (Nederland) B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34143409 Function: Manager Starting date: 2013-08-28 Glencore Netherlands B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24142438 Function: Manager Starting date: 2013-09-23 Novaly B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 67279554 Function: Manager Starting date: 2016-11-15 Viterra Europe Coöperatie U.A. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34318920 Function: Manager Starting date: 2013-10-14 Viterra Global Finance B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 34385989 Function: Manager Starting date: 2013-09-16 Piruto B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50629220 Function: Manager Starting date: 2013-09-16 Miloran B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50417363 Function: Manager Starting date: 2013-09-16 Grawaco B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24464763 Function: Manager Starting date: 2014-01-07 Pefulio B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 55300723 Function: Manager Starting date: 2013-09-16 Lurai B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 55895336 Function: Manager Starting date: 2013-09-16 Dremalo B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 24459055 Function: Manager Starting date: 2013-09-16 Andorsi B.V. Blaak 31 3011GA ROTTERDAM Netherlands Registration number: 50628224 Function: Manager Starting date: 2013-09-16 Barrint Benelux B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24145939 Function: Manager Starting date: 2013-09-16 Renaisco B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24257792 Function: Manager Starting date: 2013-09-17 Glencore Industries The Netherlands B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24381333 Function: Manager Starting date: 2013-09-16 B. Kouwenhoven Benny Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1965-11-16, Sneek, NL M.S. Kubbe Maarten Sebastiaan Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1972-09-20, Voorburg, NL P.M. Mouthaan Peter Mario Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1970-08-14, Bergen op Zoom, NL Involved with the following companies: Glencore Agri Finance B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24439643 Function: Manager Starting date: 2016-10-05 Roslicor B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 52489698 Function: Manager Starting date: 2011-04-07 A.B.J. Schrage Antonius Bernardus Johannes Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1959-03-15, Rotterdam, NL J. Wakker Jeffrey Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1971-09-11, 's-Gravenhage, NL A. de Veer Abraham Netherlands Competence: Limited authorization Function: Proxy Starting date: 2010-07-19 Date of birth: 1967-06-15, Breda, NL Involved with the following companies: Roslicor B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 52489698 Function: Manager Starting date: 2013-09-16 C. Both Camiel Netherlands Competence: Limited authorization Function: Proxy Starting date: 2011-09-01 Date of birth: 1978-08-23, Poortugaal, NL J. Gielisse Jerry Netherlands Competence: Limited authorization Function: Proxy Starting date: 2012-06-11 Date of birth: 1979-06-08, Leidschendam, NL C.R. Iles Colin Richard Netherlands Competence: Limited authorization Function: Proxy Starting date: 2012-06-19 Date of birth: 1973-08-24, Rinteln, DE E.J. Aubailly Etienne Jean-François Leuvensestraat 91 2587GD 's-Gravenhage Netherlands Competence: Limited authorization Function: Proxy Starting date: 2014-01-23 Date of birth: 1970-08-14, Bourges, FR Involved with the following companies: BIOPETROL ROTTERDAM B.V. Welplaatweg 108 3197KS Botlek Rotterdam Netherlands Registration number: 24393738 Function: Manager Starting date: 2013-10-18 BIOPETROL MARKETING B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24490313 Status: Dissolved Function: Proxy Starting date: 2011-05-16 O.A.M. Calvar Olivier Andre Marie Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-07-22 Date of birth: 1971-05-09, Vannes, FR P.J. Tustin Peter John Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-10-23 Date of birth: 1974-02-05, Geelong, AU J. Hansen Jimmy Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-10-23 Date of birth: 1979-09-09, Heusden, NL C.G.W. Popowich Chad George William Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-11-04 Date of birth: 1978-11-23, Regina, CA C. Toral Oropesa Cristobal Netherlands Competence: Limited authorization Function: Proxy Starting date: 2013-11-05 Date of birth: 1973-01-22, Madrid, ES J. Barth Johannes Netherlands Competence: Limited authorization Function: Proxy Starting date: 2014-02-14 Date of birth: 1980-11-02, Middelburg, NL Involved with the following companies: Grawaco C.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24464911 Function: Proxy Starting date: 2014-02-14 L.J. Dorrestein Lucas James Netherlands Competence: Limited authorization Function: Proxy Starting date: 2014-02-24 Date of birth: 1985-07-03, Brighton, GB F.A. Mardon Francis Albert Netherlands Competence: Limited authorization Function: Proxy Starting date: 2014-05-05 Date of birth: 1972-10-16, Loches, FR B.M. Glass Bradley Michael Netherlands Competence: Limited authorization Function: Proxy Starting date: 2015-02-23 Date of birth: 1977-11-30, Albury, AU O.F. Timmermans Olaf Florian Netherlands Competence: Limited authorization Function: Proxy Starting date: 2015-04-07 Date of birth: 1980-06-09, Dordrecht, NL O.Y.P. Dubosq Olivier Yves Philippe Netherlands Competence: Limited authorization Function: Proxy Starting date: 2015-05-21 Date of birth: 1959-09-14, Caen, FR . Vitory Kosasih Netherlands Competence: Limited authorization Function: Proxy Starting date: 2015-07-31 Date of birth: 1979-03-30, Bagansiapiapi, ID E. de Klerck Edwin Netherlands Competence: Limited authorization Function: Proxy Starting date: 2015-07-31 Date of birth: 1981-12-12, Hellevoetsluis, NL L. Plekenpol Lars Parallelweg 82 3072KN Rotterdam Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-10-16 Date of birth: 1986-08-23, Winterswijk, NL Involved with the following companies: Vereniging van Eigenaars Ondersplitsing stallinggarage complex Zuiderspoor te Rotterdam aan de Laan op Zuid Leeghwaterplein 45 2521DB 'S-GRAVENHAGE Netherlands Registration number: 54103991 Function: Manager Starting date: 2014-07-16 N.L.M. van den Meiracker Nicolaas Leonardus Marie Netherlands Competence: Limited authorization Function: Proxy Starting date: 2006-01-01 Date of birth: 1957-02-06, Rotterdam, NL K. de Jong Kristel Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-07-04 Date of birth: 1992-04-12, Vlaardingen, NL W.W. Boedjawan Wandana Warsha Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-07-04 Date of birth: 1983-07-26, 's-Gravenhage, NL M.C. Boekhoud Martin Christiaan Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-10-16 Date of birth: 1984-09-12, Rotterdam, NL H. van Efferen Hugo Netherlands Competence: Limited authorization Function: Proxy Starting date: 2017-10-16 Date of birth: 1982-06-04, Dordrecht, NL

Employees

Year	2017	2016	2015	2014	2013
Annual		287	288	274	249
Chamber of Commerce	0	0	0	0

Payments

Description

Slow and delayed

Total	EUR 170.905
	Last quarter	Last year
Average payment period (days)	504	362
Average delay (days)	497	351

Quarter	Volume	Not overdue	1-30	31-60	61-90	91-120	121+
2018 Q1	C	0,00%	0,00%	0,00%	0,00%	0,00%	100,00%
2017 Q4	C	0,00%	0,00%	0,00%	0,00%	0,00%	100,00%
2017 Q3	C	3,00%	0,00%	2,00%	0,00%	0,00%	95,00%
2017 Q2	C	0,00%	0,00%	0,00%	0,00%	0,00%	100,00%
2017 Q1	C	4,00%	4,00%	0,00%	0,00%	0,00%	92,00%

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)		41			38
Average delay (days)		23			20
Quarter	Not overdue	1-30	31-60	61-90		91-120	121+
2018 Q1	59,00%	26,00%	6,00%	3,00%		1,00%	4,00%
2017 Q4	59,00%	26,00%	6,00%	3,00%		1,00%	4,00%
2017 Q3	55,00%	32,00%	8,00%	2,00%		0,00%	3,00%
2017 Q2	70,00%	25,00%	2,00%	1,00%		1,00%	2,00%
2017 Q1	39,00%	46,00%	9,00%	2,00%		1,00%	4,00%

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	1,01	1,21	1,17	1,11	0,94
Current ratio	1,13	1,36	1,32	1,19	1,01
Working capital/ balance total	0,12	0,26	0,24	0,15	0,01
Equity / balance total	0,11	0,10	0,09	0,07	0,06
Equity / Fixed assets	72,43	17,55	40,41	1,51	1,09
Equity / liabilities	0,13	0,11	0,10	0,08	0,06
Balance total / liabilities	1,13	1,11	1,10	1,08	1,06
Working capital	260.365.231	593.900.099	524.375.822	347.689.806	29.701.381
Equity	254.507.154	234.484.261	194.422.933	163.405.123	171.207.373
Mutation equity	8,54	20,61	18,98	-4,56	7,11
Mutation short term liabilities	17,67	2,03	-8,82	-34,03	32,84
Return on total assets (ROA)	0,86	0,88	0,69	0,23	0,59
Return on equity (ROE)	7,56	8,59	7,74	3,15	10,08
Gross profit margin	0,28	0,28	0,24	0,22	0,44
Net profit margin	0,11	0,12	0,08	0,03	0,11
Average collection ratio	6,73	7,56	8,13	6,57	4,22
Average payment ratio	6,81	6,59	7,21	5,98	4,59
Equity turnover ratio	51,98	53,86	68,42	72,20	67,02
Total assets turnover ratio	5,93	5,55	6,14	5,24	3,95
Fixed assets turnover ratio	3.764,53	945,07	2.765,17	108,97	72,83
Inventory conversion ratio	54,88	50,27	52,31	83,12	57,12
Turnover	13.228.159.108	12.629.550.654	13.303.141.444	11.798.447.112	11.474.447.128
Gross margin	113.294.750	104.545.795	94.966.595	86.801.539	92.082.010
Operating result	37.542.926	35.952.974	32.430.591	26.476.688	50.704.868
Net result after taxes	14.832.558	15.495.546	10.692.689	3.452.252	12.754.283
EBIT	37.542.926	35.952.974	32.430.591	26.476.688	50.704.868

Summary

The 2016 financial result structure is a postive working captial of 260.365.231 euro, which is in agreement with 12 % of the total assets of the company. The working capital has diminished with -56.16 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined. The deterioration between 2015 and 2016 has mainly been caused by a change of the current liabilities. The current ratio of the company in 2016 was 1.13. 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 1.01. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities. The 2015 financial result structure is a postive working captial of 593.900.099 euro, which is in agreement with 26 % of the total assets of the company. The working capital has increased with 13.26 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The improvement between 2014 and 2015 has mainly been caused by a change of the current assets. The current ratio of the company in 2015 was 1.36. 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 1.21. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

Financial statement

Last annual account	2016
Remark annual account	The company is obliged to file its financial statements.
Type of annual account	Corporate
Annual account	Glencore Agriculture B.V. Blaak 31 3011GA Rotterdam Netherlands Registration number: 24138640

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	Corporate	Corporate	Corporate	Corporate	Corporate
Tangible fixed assets	3.407.646		4.718.719	4.748.749
Financial fixed assets	106.252	13.363.645	92.249	103.519.689	157.547.376
Fixed assets	3.513.898	13.363.645	4.810.969	108.268.439	157.547.376
Total stock	241.022.665	251.217.981	254.289.472	141.941.125	200.892.079
Accounts receivable		624.321.704	513.440.979	706.726.144	719.017.761
Other receivables		1.292.527.860	1.331.962.113	1.265.639.217	1.780.823.165
Total receivables	1.942.885.807	1.916.849.565	1.845.403.092	1.972.365.361	2.499.840.926
Liquid funds	41.745.563	96.005.333	61.560.797	28.636.793	50.220.557
Current assets	2.225.654.035	2.264.072.879	2.161.253.360	2.142.943.278	2.750.953.562
Total assets	2.229.167.933	2.277.436.524	2.166.064.329	2.251.211.717	2.908.500.938
Issued capital		18.487.188	16.460.745	16.499.892	16.502.956
Other reserves	254.507.154	215.997.073	177.962.189	146.905.232	154.704.417
Total reserves	254.507.154	215.997.073	177.962.189	146.905.232	154.704.417
Total equity	254.507.154	234.484.261	194.422.933	163.405.123	171.207.373
Provisions					16.041.383
Long term interest yielding debt	9.371.976	372.779.483	334.763.857	292.553.122
Long term liabilities	9.371.976	372.779.483	334.763.857	292.553.122
Accounts payable		326.561.974	176.842.018	120.301.649	145.954.985
Other short term liabilities		1.343.610.806	1.460.035.520	1.674.951.823	2.575.297.197
Short term liabilities	1.965.288.804	1.670.172.780	1.636.877.538	1.795.253.472	2.721.252.181
Total short and long term liabilities	1.974.660.780	2.042.952.263	1.971.641.396	2.087.806.593	2.737.293.564
Total liabilities	2.229.167.933	2.277.436.524	2.166.064.329	2.251.211.717	2.908.500.938

Summary

The total assets of the company decreased with -2.12 % between 2015 and 2016. This downturn is mainly retrievable in the fixed asset decrease of -73.71 %. The asset reduction is in contrast with the equity growth of 8.54 %. Due to this the total debt decreased with -3.34 %. In 2016 the assets of the company were 0.16 % composed of fixed assets and 99.84 % by current assets. The assets are being financed by an equity of 11.42 %, and total debt of 88.58 %. The total assets of the company increased with 5.14 % between 2014 and 2015. The total asset increase is retrievable in the fixed asset growth of 177.77 %. The asset growth has mainly been financed by a Net Worth increase of 20.61 %. Debt, however, grew with 3.62 %. In 2015 the assets of the company were 0.59 % composed of fixed assets and 99.41 % by current assets. The assets are being financed by an equity of 10.3 %, and total debt of 89.7 %.

Profit and loss

Year	2016	2015	2014	2013	2012
Revenues	13.228.159.108	12.629.550.654	13.303.141.444	11.798.447.112	11.474.447.128
Net turnover	13.228.159.108	12.629.550.654	13.303.141.444	11.798.447.112	11.474.447.128
Gross margin	113.294.750	104.545.795	94.966.595	86.801.539	92.082.010
Wages and salaries			36.160.101	36.636.213	21.678.794
Sales	75.751.824	68.592.821	13.208.174.849	11.711.645.572	11.382.365.118
other operating costs			26.375.903	23.688.638	19.698.348
Operating expenses	13.190.616.182	12.593.597.681	13.270.710.853	11.771.970.423	11.423.742.260
Operating result	37.542.926	35.952.974	32.430.591	26.476.688	50.704.868
Financial income	4.511.906	4.938.000	4.361.253	8.884.780	13.468.244
Financial expenses	22.803.339	20.746.763	21.742.844	30.214.633	46.912.235
Financial result	-18.291.433	-15.808.764	-17.381.591	-21.329.853	-33.443.991
Result on ordinary operations before taxes	19.251.493	20.144.210	15.049.000	5.146.835	17.260.877
Taxation on the result of ordinary activities	4.418.935	4.648.664	4.356.311	1.694.583	4.506.594
Result of ordinary activities after taxes	14.832.558	15.495.546	10.692.689	3.452.252	12.754.283
Net result	14.832.558	15.495.546	10.692.689	3.452.252	12.754.283

Summary

The turnover of the company grew with 4.74 % between 2015 and 2016. The gross profit of the company grew with 8.37 % between 2015 and 2016. The operating result of the company grew with 4.42 % 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 -2.27 % of the analysed period, being equal to 0.86 in the year 2016. Despite the decline the assets turnover increased by 6.85 % reaching 5.93. The Net Result of the company decreased by -4.28 % between 2015 and 2016. 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 -11.99 % of the analysed period, being 7.56 in the year 2016. The company's financial profitability has been positively affected by its financial structure. The turnover of the company decreased by -5.06 % between 2014 and 2015. The gross profit of the company grew with 10.09 % between 2014 and 2015. The operating result of the company grew with 10.86 % between 2014 and 2015. 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 27.54 % of the analysed period, being equal to 0.88 in the year 2015. Despite the growth the assets turnover decreased, whose index evolved with -9.61 % to a level of 5.55. The Net Result of the company increased by 44.92 % between 2014 and 2015. 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 10.98 % of the analysed period, being 8.59 in the year 2015. The company's financial structure has slowed down its financial profitability.

Analysis

Branch (SBI)	Wholesale of grain (SBI code 46211)
Region	Groot Rotterdam
Summary	In the Netherlands 10563 of the companies are registered with the SBI code 46211 In the region Groot Rotterdam 576 of the companies are registered with the SBI code 46211 In the Netherlands 148 of the bankrupcties are published within this sector In the region Groot Rotterdam 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 Rotterdam is normal

Year	2016	Company	2015	Company	2014
Equity	117.896	254.507.154	123.144	234.484.261	132.134
Working capital	93.801	260.365.231	88.574	593.900.099	90.259
Balance total	498.539	2.229.167.933	519.060	2.277.436.524	544.817
Quick ratio	1,30	1,01	1,32	1,21	1,30
Current ratio	1,31	1,13	1,47	1,36	1,49
Equity / balance total	0,36	0,11	0,35	0,10	0,35
Turnover	7.847.393	13.228.159.107	7.923.805	12.629.550.654	7.209.304
Net result	813.082	14.832.558	764.899	15.495.546	483.958

Publications

Deposits	09-05-2017: De jaarrekening over 2016 is gepubliceerd. 05-05-2016: De jaarrekening over 2015 is gepubliceerd. 17-04-2015: De jaarrekening over 2014 is gepubliceerd. 20-05-2014: De jaarrekening over 2013 is gepubliceerd. 13-02-2014: De jaarrekening over 2012 is gepubliceerd.
Functions	31-10-2017: Per 16-10-2017 is gevolmachtigde Hugo van Efferen in functie getreden. 25-10-2017: Per 16-10-2017 is gevolmachtigde Martin Christiaan Boekhoud in functie getreden. 17-10-2017: Per 16-10-2017 is gevolmachtigde Lars Plekenpol in functie getreden. 07-09-2017: Per 31-08-2017 is gevolmachtigde Arie Kouwenhoven uit functie getreden. 20-07-2017: Per 07-07-2017 is gevolmachtigde Marlies Heleen Jansen-Meindersma uit functie getreden. 12-07-2017: Per 04-07-2017 is gevolmachtigde Wandana Warsha Boedjawan in functie getreden. 12-07-2017: Per 04-07-2017 is gevolmachtigde Kristel de Jong in functie getreden. 05-07-2017: Per 30-06-2017 is gevolmachtigde Daniel Anthony Pickett uit functie getreden. 28-03-2017: Per 24-03-2017 is gevolmachtigde Stanley de Bruin in functie getreden. 03-10-2016: Per 30-09-2016 is gevolmachtigde Danial Wesley Johnson uit functie getreden. 01-07-2016: Per 30-06-2016 is gevolmachtigde Richard van Renswoude uit functie getreden. 09-03-2016: Per 04-03-2016 is gevolmachtigde Ferry Ketting uit functie getreden. 05-08-2015: Per 31-07-2015 is gevolmachtigde Edwin de Klerck in functie getreden. 05-08-2015: Per 31-07-2015 is gevolmachtigde Marlies Heleen Meindersma in functie getreden. 05-08-2015: Per 31-07-2015 is gevolmachtigde Vitory Kosasih in functie getreden. 27-05-2015: Per 21-05-2015 is gevolmachtigde Olivier Yves Philippe Dubosq in functie getreden. 26-05-2015: Per 22-05-2015 is gevolmachtigde James Daniel Maw uit functie getreden. 10-04-2015: Per 07-04-2015 is gevolmachtigde Olaf Florian Timmermans in functie getreden. 25-02-2015: Per 23-02-2015 is gevolmachtigde Bradley Michael Glass in functie getreden. 15-10-2014: Per 01-10-2014 is gevolmachtigde Theo Eymert Schipper uit functie getreden. 15-10-2014: Per 01-10-2014 is gevolmachtigde Ronald Jozef Johanna de Gelder uit functie getreden. 11-06-2014: Per 02-06-2014 is gevolmachtigde Richard van Renswoude in functie getreden. 11-06-2014: Per 02-06-2014 is gevolmachtigde Margaretha den Otter uit functie getreden. 04-06-2014: Per 02-06-2014 is gevolmachtigde Antonius Alfonsius Rabeling uit functie getreden. 14-05-2014: Per 30-04-2014 is gevolmachtigde Wilhelmus Marinus van Deurzen uit functie getreden. 14-05-2014: Per 05-05-2014 is gevolmachtigde Francis Albert Mardon in functie getreden. 26-02-2014: Per 24-02-2014 is gevolmachtigde Lucas James Dorrestein in functie getreden. 21-02-2014: Per 14-02-2014 is gevolmachtigde Johannes Barth in functie getreden. 21-02-2014: Per 14-02-2014 is gevolmachtigde Thomas Theodorus Maria Heijselaar uit functie getreden. 27-01-2014: Per 23-01-2014 is gevolmachtigde Etienne Jean-François Aubailly in functie getreden.
Other	01-11-2016: Datum deponering: 31-10-2016 Boekjaar: 2015 Soort deponering: Geconsolideerde jaarrekening (art. 408 BW2). 02-12-2016: Per 1-12-2016 statuten gewijzigd. Per 1-12-2016 naam gewijzigd in: Glencore Agriculture B.V..

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.67
UK Pound	1	INR 86.11
Euro	1	INR 76.59
Euro	1	INR 76.44

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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