MIRA INFORM REPORT

 

 

Report No. :

495144

Report Date :

05.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

WINEL B.V.

 

 

Registered Office :

Dr. A.F. Philipsweg 55, 9403AD Assen

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

14.01.1975

 

 

Com. Reg. No.:

04022186

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of metal doors, windows and their frames

 

 

No. of Employees :

60

 

 

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 :

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

 

Name

Winel B.V.

 

Summary

 

Company name

Winel B.V.

Operative address

Dr. A.F. Philipsweg 55
9403AD Assen
Netherlands

Credit limit

EUR 400.000

Credit limit parent company

EUR 400.000

Score

6,7            

Payment score

6,46

Rating

AA

Risk

Average risk

Status

Active

 

Legal form

Private Limited Company

Registration number

KvK-nummer: 04022186

VAT-number

003349147

European VAT-number

NL003349147B01

Year

2016

Mutation

2015

Mutation

2014

Fixed assets

4.672.882

-7,44 

5.048.746

0,60 

5.018.644

Total receivables

3.579.006

5,87 

3.380.625

-21,11 

4.285.390

Total equity

3.717.069

0,69 

3.691.623

1,94 

3.621.477

Short term liabilities

6.341.505

-12,94 

7.284.053

-4,96 

7.664.470

Net result

64.362

-76,18 

270.146

-86,23 

1.961.699

Working capital

1.629.617

52,38 

1.069.465

-56,44 

2.454.946

Quick ratio

0,57

21,28 

0,47

-26,56 

0,64

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/SUMMARY-01-bar-large.png

Contact information

 

Company name

Winel B.V.

Trade names

Winel B.V.

Operative address

Dr. A.F. Philipsweg 55
9403AD Assen
Netherlands

Correspondence address

Postbus 70
9400AB Assen
Netherlands

 

Telephone number

0592366060

Fax number

0592312392

Email address

info@winel.nl

Website

www.winel.nl

 

Registration

 

Registration number

KvK-nummer: 04022186

Branch number

000017287529

VAT-number

003349147

European VAT-number

NL003349147B01

Status

Active

First registration company register

1975-01-14

Memorandum

1975-01-14

Establishment date

1979-10-09

 

Legal form

Private Limited Company

Last proposed admendment

1999-03-11

Issued placed capital

EUR 9.076

Paid up share capital

EUR 9.076

 

Activities

 

SBI

2512: Manufacture of metal doors, windows and their frames

Exporter

No

Importer

No

 

Goal

Manufacture and trade in equipment for shipping, aviation and industry

 

Relations

 

Shareholders

Winel Holding B.V.
Dr. A.F. Philipsweg 55
9403AD ASSEN
Netherlands
Registration number: 04033170
Percentage: 100%

Affiliates

Staalart B.V.
Kanaalweg 5
8356VS Blokzijl
Netherlands
Registration number: 05059630

 

Winel International B.V.
Dr. A.F. Philipsweg 55
9403AD ASSEN
Netherlands
Registration number: 04026323

 

Nieuwtech Electronics B.V.
Dr. A.F. Philipsweg 55
9403AD ASSEN
Netherlands
Registration number: 58846891

 

Companies on same address

Personeelsvereniging Winel B.V.
Registration number: 04070747

 

Winel Holding B.V.
Registration number: 04033170

 

Winel International B.V.
Registration number: 04026323

 

Winel Industry Group B.V.
Registration number: 01138095

 

Nieuwtech Electronics B.V.
Registration number: 58846891

Liability statements

Winel Industry Group B.V.
Dr. A.F. Philipsweg 55
9403AD ASSEN
Netherlands
Registration number: 01138095
date of issue: 2011-03-23
Starting date: 2010-08-30

Real Estate

 

Details operative address

Surface area: 9055 m2
Purpose: Industrial function
Construction year: 1968
Status: Building in use
Under investigation: No

 

Management

 

Active management

Winel Holding B.V.
Dr. A.F. Philipsweg 55
9403AD ASSEN
Netherlands
Registration number: 04033170
Competence: Fully authorized
Function: Manager
Starting date: 2011-10-01

 

R.L.M. Haurissa Regina Lize Maureen
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1994-03-01
Date of birth: 1967-09-30, Assen, NL

 

G. Leistra - Fidder Grietje
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2017-02-01
Date of birth: 1964-04-22, Anloo, NL

 

Employees

 

Year

2018

2016

2015

Chamber of Commerce

60

60

60

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/EMPLOYEES-01-bar-large.png

 

Payments

 

Description

The payments are regular

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/PAYMENTS-01-line-large.png

Total

EUR 39.271

 

Last quarter

Last year

Average payment period (days)

40

34

Average delay (days)

15

13

 

Quarter

Volume

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q1

A

0,00%

100,00%

0,00%

0,00%

0,00%

0,00%

2017 Q4

B

22,00%

40,00%

17,00%

12,00%

4,00%

4,00%

2017 Q3

A

93,00%

7,00%

0,00%

0,00%

0,00%

0,00%

2017 Q2

A

100,00%

0,00%

0,00%

0,00%

0,00%

0,00%

2017 Q1

C

32,00%

65,00%

3,00%

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)

47

43

Average delay (days)

24

20

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q1

67,00%

22,00%

5,00%

3,00%

2,00%

1,00%

2017 Q4

66,00%

24,00%

5,00%

2,00%

1,00%

2,00%

2017 Q3

73,00%

23,00%

3,00%

1,00%

0,00%

0,00%

2017 Q2

74,00%

17,00%

4,00%

3,00%

1,00%

1,00%

2017 Q1

63,00%

31,00%

3,00%

1,00%

1,00%

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

0,57

0,47

0,64

0,49

0,61

Current ratio

1,26

1,15

1,32

1,09

1,14

Working capital/ balance total

0,13

0,08

0,16

0,05

0,07

Equity / balance total

0,29

0,28

0,24

0,07

0,07

Equity / Fixed assets

0,80

0,73

0,72

0,20

0,17

Equity / liabilities

0,42

0,38

0,31

0,07

0,07

Balance total / liabilities

1,42

1,38

1,31

1,07

1,07

Working capital

1.629.617

1.069.465

2.454.946

679.387

1.011.769

Equity

3.717.069

3.691.623

3.621.477

848.064

905.227

Mutation equity

0,69

1,94

327,03

-6,31

1.950,39

Mutation short term liabilities

-12,94

-4,96

-0,99

6,06

3,81

Return on total assets (ROA)

2,07

4,20

17,75

4,42

10,39

Return on equity (ROE)

7,05

15,26

74,20

65,99

156,98

Gross margin

12.631.098

13.296.886

14.856.574

11.323.837

11.906.209

Operating result

440.789

766.611

2.940.156

844.710

1.852.870

Net result after taxes

64.362

270.146

1.961.699

142.837

857.372

Cashflow

1.403.715

1.701.520

1.777.319

2.568.139

EBIT

440.789

766.611

844.710

1.852.870

EBITDA

1.780.142

2.197.985

2.479.192

3.563.637

 

Summary

The 2016 financial result structure is a postive working captial of 1.629.617 euro, which is in agreement with 13 % of the total assets of the company.
The working capital has increased with 52.38 % 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 1.26. 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 0.57. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2015 financial result structure is a postive working captial of 1.069.465 euro, which is in agreement with 8 % of the total assets of the company.
The working capital has diminished with -56.44 % 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 liabilities.
The current ratio of the company in 2015 was 1.15. 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 0.47. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/KEYFIGURES-01-bar-large.png

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/KEYFIGURES-02-bar-large.png

 

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

Winel Industry Group B.V.
Dr. A.F. Philipsweg 55
9403AD ASSEN
Netherlands
Registration number: 01138095

 

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.

Consol.

Consol.

Consol.

Other intangible fixed assets

1.833.854

Intangible fixed assets

1.809.531

1.833.854

2.857.400

3.880.948

Real estate

2.052.759

Plant and machinery

746.844

Other tangible fixed assets

4.672.882

385.187

Tangible fixed assets

4.672.882

3.239.215

3.184.790

1.381.908

1.489.882

Fixed assets

4.672.882

5.048.746

5.018.644

4.239.308

5.370.830

Raw materials

3.462.391

Projects in progress

1.625.109

Finished products

156.790

Total stock

4.365.263

4.947.311

5.244.290

4.594.314

3.867.287

Other receivables

4.285.390

Total receivables

3.579.006

3.380.625

4.285.390

3.677.637

3.382.824

Liquid funds

26.853

25.582

589.736

148.296

1.060.167

Current assets

7.971.122

8.353.518

10.119.416

8.420.247

8.310.278

Total assets

12.644.004

13.402.264

15.138.060

12.659.555

13.681.108

Shareholders equity

3.621.477

Total equity

3.717.069

3.691.623

3.621.477

848.064

905.227

Provisions

690.478

356.130

366.149

110.631

197.372

Long term interest yielding debt

1.894.952

2.070.458

1.100.000

2.310.000

3.080.000

Financial debts

2.385.964

1.650.000

2.200.000

Long term liabilities

1.894.952

2.070.458

3.485.964

3.960.000

5.280.000

Liabilities towards credit institutes

1.563.413

Other short term liabilities

6.101.057

Short term liabilities

6.341.505

7.284.053

7.664.470

7.740.860

7.298.509

Total short and long term liabilities

8.926.935

9.710.641

11.516.583

11.811.491

12.775.881

Total liabilities

12.644.004

13.402.264

15.138.060

12.659.555

13.681.108

 

Summary

The total assets of the company decreased with -5.66 % between 2015 and 2016.
This downturn is mainly retrievable in the fixed asset decrease of -7.44 %.
Assets reduction is being explained by an indebtedness decrease -8.07 % while the Net Worth remains unchanged.
In 2016 the assets of the company were 36.96 % composed of fixed assets and 63.04 % by current assets. The assets are being financed by an equity of 29.4 %, and total debt of 70.6 %.

The total assets of the company decreased with -11.47 % between 2014 and 2015.
The total assets are entirely composed of current assets.
The asset reduction is in contrast with the equity growth of 1.94 %. Due to this the total debt decreased with -15.68 %.
In 2015 the assets of the company were 37.67 % composed of fixed assets and 62.33 % by current assets. The assets are being financed by an equity of 27.54 %, and total debt of 72.46 %.

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/BALANCESHEETS-01-bar-large.png

http://kredietinformatie.creditdevice.nl/cache/ci-report-1286251-EN/BALANCESHEETS-02-bar-large.png

 

Profit and loss

 

Year

2016

2015

2014

2013

2012

Gross margin

12.631.098

13.296.886

14.856.574

11.323.837

11.906.209

Wages and salaries

5.304.598

5.517.424

4.097.032

4.277.150

4.332.691

Social security contributions

987.932

Amorization and depreciation

1.339.353

1.431.374

1.297.070

1.634.482

1.710.767

other operating costs

5.546.358

5.581.477

5.534.384

4.567.495

4.009.881

Operating expenses

12.190.309

12.530.275

11.916.418

10.479.127

10.053.339

Operating result

440.789

766.611

2.940.156

844.710

1.852.870

Financial expenses

178.726

203.241

-253.054

285.043

431.841

Financial result

-178.726

-203.241

-253.054

-285.043

-431.841

Result on ordinary operations before taxes

262.063

563.370

2.687.102

559.667

1.421.029

Taxation on the result of ordinary activities

197.701

293.224

725.403

416.830

563.657

Result of ordinary activities after taxes

64.362

270.146

1.961.699

142.837

857.372

Net result

64.362

270.146

1.961.699

142.837

857.372

Attributable to shareholders

1.961.699

 

Summary

The gross profit of the company decreased by -5.01 % between 2015 and 2016.
The operating result of the company declined with -42.5 % between 2015 and 2016. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -50.71 % of the analysed period, being equal to 2.07 in the year 2016.
The Net Result of the company decreased by -76.18 % 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 -53.8 % of the analysed period, being 7.05 in the year 2016.
The company's financial profitability has been positively affected by its financial structure.

The gross profit of the company decreased by -10.5 % between 2014 and 2015.
The operating result of the company declined with -73.93 % between 2014 and 2015. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -76.34 % of the analysed period, being equal to 4.2 in the year 2015.
The Net Result of the company decreased by -86.23 % between 2014 and 2015.
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 -79.43 % of the analysed period, being 15.26 in the year 2015.
The company's financial profitability has been positively affected by its financial structure.

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Analysis

 

Branch (SBI)

Manufacture of metal doors, windows and their frames (SBI code 2512)

Region

Drenthe

Summary

In the Netherlands 410 of the companies are registered with the SBI code 2512
In the region Drenthe 10 of the companies are registered with the SBI code 2512
In the Netherlands 15 of the bankrupcties are published within this sector
The risk of this specific sector in the Netherlands is Highest
The risk of this specific sector in the region Drenthe is Highest

Year

2016

Company

2015

Company

2014

Equity

74.063

3.717.069 

73.982

3.691.623 

87.761

Working capital

135.531

1.629.617 

108.732

1.069.465 

81.940

Balance total

479.288

12.644.004 

553.326

13.402.264 

503.110

Quick ratio

1,19

0,57 

1,22

0,47 

1,18

Current ratio

1,35

1,26 

1,42

1,15 

1,43

Equity / balance total

0,28

0,29 

0,25

0,28 

0,24

 

Publications

 

Consent statements

08-11-2017: Voor boekjaar 2016 is een instemmingsverklaring gedeponeerd.
22-07-2016: Voor boekjaar 2015 is een instemmingsverklaring gedeponeerd.
21-07-2015: Voor boekjaar 2014 is een instemmingsverklaring gedeponeerd.
17-07-2014: Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd.

Functions

02-02-2017: Per 01-02-2017 is gevolmachtigde Grietje Leistra-Fidder in functie getreden.
22-06-2015: Per 20-07-2014 is gevolmachtigde Marian de Vries uit functie getreden.

 

Company structure

 

Relations

6

Company

Registration number

Winel Industry Group B.V. (ASSEN)

01138095  

| - - Winel Holding B.V. (ASSEN)

04033170  

| - - | - - Nieuwtech Electronics B.V. (ASSEN)

58846891  

| - - | - - Winel International B.V. (ASSEN)

04026323  

| - - | - - Winel B.V. (Assen)

04022186  

| - - | - - Staalart B.V. (Blokzijl)

05059630  

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.23

UK Pound

1

INR 89.71

Euro

1

INR 79.50

Euro

1

INR 80.00 

 

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)

 

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.