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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

498320

Report Date :

17.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TRANSITYRE B.V.

 

 

Registered Office :

Eikdonk 5 4825AZ Breda

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

07.10.1985

 

 

Com. Reg. No.:

KvK-nummer: 20054402

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Wholesale and commission trade of motor vehicle parts and accessories

·         Wholesale and intermediary trade of tyres

 

 

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 :

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

 

Company name and Summary

 

Company name

Transityre B.V.

Operative address

Eikdonk 5
4825AZ Breda
Netherlands

 

Legal form

Private Limited Company

Registration number

KvK-nummer: 20054402

VAT-number

007853737

European VAT-number

NL007853737B01

Year

2015

Mutation

2014

Mutation

2013

Fixed assets

3.400.376

-0,00 

3.400.378

-9,77 

3.768.471

Total receivables

256.534.686

-44,52 

462.377.920

-9,18 

509.127.293

Total equity

502.547

67,65 

299.752

10,63 

270.942

Short term liabilities

284.749.704

-41,54 

487.122.043

-8,74 

533.778.482

Net result

202.795

603,86 

28.812

124,44 

-117.896

Working capital

-2.897.832

6,54 

-3.100.626

11,35 

-3.497.529

Quick ratio

0,90

-5,26 

0,95

0,95

http://kredietinformatie.creditdevice.nl/cache/ci-report-1307127-EN/SUMMARY-01-bar-large.png

 

 

Contact information

 

Company name

Transityre B.V.

Trade names

Transityre B.V.
TRANSITYRE Michelin Export Facilities

Operative address

Eikdonk 5
4825AZ Breda
Netherlands

Correspondence address

Postbus 6578
4802HN Breda
Netherlands

 

Telephone number

0765792300

Fax number

0765792380

Email address

info@michelin.fr

Website

www.michelin.fr

 

 

Registration

 

Registration number

KvK-nummer: 20054402

Branch number

000017060168

VAT-number

007853737

European VAT-number

NL007853737B01

Status

Active

First registration company register

1985-10-07

Memorandum

1985-10-07

Establishment date

1985-10-07

 

Legal form

Private Limited Company

Last proposed admendment

1988-10-10

Issued placed capital

EUR 50.000

Paid up share capital

EUR 50.000

 

 

Activities

 

SBI

45311: Wholesale and commission trade of motor vehicle parts and accessories (no tyres)
45312: Wholesale and intermediary trade of tyres

Exporter

Yes

Importer

Yes

 

Goal

De intern. Handel in banden, wielen, accessoires, onderdelen, samenstellende delen, halffabrikaten en andere produkten, de import en export daarvan, commerciële en financiële aktiviteiten.

 

 

Relations

 

Shareholders

Spika
23 rue Breschet
63000 Clermont-Ferrand
France
Percentage: 100%

Shareholders

Naam: Spika
Bezoekadres: 23 rue Breschet, 63000 Clermont-Ferrand, Frankrijk
Ingeschreven in: Registre du commerce Frankrijk onder nummer 304 690 209
Enig aandeelhouder sedert: 22-12-2016 (datum registratie: 22-12-2016)

Subsidiaries

Michelin Distribution B.V.
Eikdonk 5
4825AZ Breda
Netherlands
Registration number: 20117241

 

Companies on same address

Michelin Distribution B.V.
Registration number: 20117241

 

 

Real Estate

 

Details operative address

Surface area: 23802 m2
Purpose: Industrial function
Construction year: 1989
Status: Building in use
Under investigation: No

 

 

Management

 

Active management

M. Gerber Muriel
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2007-06-28
Date of birth: 1975-02-27, Bern, CH
Involved with the following companies:

Michelin Distribution B.V.
Eikdonk 5
4825AZ Breda
Netherlands
Registration number: 20117241
Function: Manager
Starting date: 2007-05-31

 

Michelin Nederland N.V.
Huub van Doorneweg 2
5151DT Drunen
Netherlands
Registration number: 18041029
Function: Commissaris
Starting date: 2011-04-15

 

M.D.M. Naveau Mireille Denise Marie
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2016-09-01
Date of birth: 1957-05-19, Perpignan, FR

 

D.G. Milne Derek George
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2016-11-01
Date of birth: 1966-12-11, Aberdeen, GB

 

A. Donzallaz André
Netherlands
Function: Commissaris
Starting date: 2005-06-29
Date of birth: 1966-09-04, Siviriez, CH

 

Michelin Distribution B.V.
Eikdonk 5
4825AZ Breda
Netherlands
Registration number: 20117241
Competence: Fully authorized
Function: Proxy
Starting date: 2004-12-16

 

M. Vignaud Myriam
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2001-11-15
Date of birth: 1979-12-21, Greenville, US

 

I. Tung Im
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2001-11-15
Date of birth: 1956-06-30, Prey Veug, KH

 

M.R. Evangelista Marc Robert
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-09-22
Date of birth: 1965-12-02, Sainte Foy Les Lyon, FR

 

B.M. Vega Bernard Manuel
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2011-01-01
Date of birth: 1958-07-13, Le Puy Haute-Loire, FR

 

P. Hagopian-Croso Patricia
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-01-02
Date of birth: 1961-03-25, Vichy, FR

 

C. Peronnin Cathy
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2014-07-22
Date of birth: 1978-11-14, Moulins, FR

 

 

Employees

 

Year

2018

2016

2015

2014

2012

Annual

1

1

Chamber of Commerce

60

60

60

60

http://kredietinformatie.creditdevice.nl/cache/ci-report-1307127-EN/EMPLOYEES-01-bar-large.png

 

 

Payments

 

Score

7,4

 

Description

In accordance with payment condition

 

Payments within industry

Last quarter

Last year

Average payment period (days)

38

35

Average delay (days)

21

19

 

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q1

41,00%

26,00%

12,00%

13,00%

6,00%

3,00%

2017 Q4

63,00%

32,00%

4,00%

1,00%

0,00%

0,00%

2017 Q3

80,00%

15,00%

2,00%

2,00%

1,00%

0,00%

2017 Q2

60,00%

34,00%

2,00%

1,00%

2,00%

1,00%

2017 Q1

66,00%

33,00%

1,00%

0,00%

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

2015

2014

2013

2012

2011

Quick ratio

0,90

0,95

0,95

0,97

0,96

Current ratio

0,99

0,99

0,99

0,99

0,99

Working capital/ balance total

-0,01

-0,01

-0,01

-0,01

-0,01

Equity / balance total

0,00

0,00

0,00

0,00

0,00

Equity / Fixed assets

0,15

0,09

0,07

0,10

0,06

Equity / liabilities

0,00

0,00

0,00

0,00

0,00

Balance total / liabilities

1,00

1,00

1,00

1,00

1,00

Working capital

-2.897.832

-3.100.626

-3.497.529

-3.417.508

-3.598.748

Equity

502.547

299.752

270.942

388.838

219.992

Mutation equity

67,65

10,63

-30,32

76,75

-0,29

Mutation short term liabilities

-41,54

-8,74

-15,01

-6,62

-10,59

Return on total assets (ROA)

0,12

0,05

0,05

0,04

0,04

Return on equity (ROE)

69,24

74,01

93,19

67,08

111,99

Gross profit margin

0,22

0,19

0,23

0,18

0,10

Net profit margin

0,01

0,00

-0,01

0,01

0,01

Average collection ratio

4,86

2,79

2,79

2,44

2,16

Average payment ratio

5,40

2,94

2,93

2,52

2,24

Equity turnover ratio

2.755,78

4.531,74

5.498,41

3.938,64

6.599,09

Total assets turnover ratio

4,86

2,79

2,79

2,44

2,16

Fixed assets turnover ratio

407,28

399,48

395,32

402,35

380,16

Inventory conversion ratio

55,12

62,78

70,55

90,91

71,90

Turnover

1.384.910.468

1.358.396.808

1.489.750.583

1.531.494.152

1.451.748.033

Gross margin

73.814.122

76.696.935

82.371.947

78.117.695

71.033.998

Operating result

2.977.602

2.522.503

3.369.323

2.726.060

1.478.305

Net result after taxes

202.795

28.812

-117.896

168.846

159.366

EBIT

2.977.602

2.522.503

3.369.323

2.726.060

1.478.305

Summary

The 2015 financial result structure is a negative working captial of -2.897.832 euro, which is in agreement with -1 % of the total assets of the company.
The working capital has increased with 6.54 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.
The improvement between 2014 and 2015 has mainly been caused by a change of the current liabilities.
The current ratio of the company in 2015 was 0.99. 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 0.9. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2014 financial result structure is a negative working captial of -3.100.626 euro, which is in agreement with -1 % of the total assets of the company.
The working capital has increased with 11.35 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.
The improvement between 2013 and 2014 has mainly been caused by a change of the current assets.
The current ratio of the company in 2014 was 0.99. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2014 of the company was 0.95. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

http://kredietinformatie.creditdevice.nl/cache/ci-report-1307127-EN/KEYFIGURES-01-bar-large.png

http://kredietinformatie.creditdevice.nl/cache/ci-report-1307127-EN/KEYFIGURES-02-bar-large.png

 

 

 

Financial statement

 

Last annual account

2015

Remark annual account

Although the statutory period has expired, the company's annual reports are not yet published.

Type of annual account

Corporate

Annual account

Transityre B.V.
Eikdonk 5
4825AZ Breda
Netherlands
Registration number: 20054402

 

 

Balance

 

Year

2015

2014

2013

2012

2011

End date

2015-12-31

2014-12-31

2013-12-31

2012-12-31

2011-12-31

Type of annual account

Corporate

Corporate

Corporate

Corporate

Corporate

Tangible fixed assets

368.093

386.983

399.377

Financial fixed assets

3.400.376

3.400.378

3.400.378

3.419.363

3.419.363

Fixed assets

3.400.376

3.400.378

3.768.471

3.806.346

3.818.740

Total stock

25.123.873

21.636.566

21.117.457

16.846.508

20.190.852

Accounts receivable

109.590.070

158.800.812

Other receivables

497.167.414

488.645.083

Total receivables

256.534.686

462.377.920

509.127.293

606.757.484

647.445.895

Liquid funds

193.314

6.931

36.203

1.006.878

1.329.057

Current assets

281.851.872

484.021.417

530.280.953

624.610.870

668.965.804

Total assets

285.252.248

487.421.795

534.049.424

628.417.216

672.784.544

Issued capital

50.000

50.000

50.000

50.000

50.000

Other reserves

452.546

220.940

338.838

169.992

10.626

Non-distributable profit

28.812

-117.896

168.846

159.366

Total reserves

452.546

249.752

220.942

338.838

169.992

Total equity

502.547

299.752

270.942

388.838

219.992

Accounts payable

1.165.749

2.590.731

4.055.408

22.725.457

Other short term liabilities

485.956.294

531.187.751

623.972.970

649.839.095

Short term liabilities

284.749.704

487.122.043

533.778.482

628.028.378

672.564.552

Total short and long term liabilities

284.749.704

487.122.043

533.778.482

628.028.378

672.564.552

Total liabilities

285.252.248

487.421.795

534.049.424

628.417.216

672.784.544

Summary

The total assets of the company decreased with -41.48 % between 2014 and 2015.
The total assets are entirely composed of current assets.
The asset reduction is in contrast with the equity growth of 67.65 %. Due to this the total debt decreased with -41.54 %.
In 2015 the assets of the company were 1.19 % composed of fixed assets and 98.81 % by current assets. The assets are being financed by an equity of 0.18 %, and total debt of 99.82 %.

The total assets of the company decreased with -8.73 % between 2013 and 2014.
This downturn is mainly retrievable in the fixed asset decrease of -9.77 %.
The asset reduction is in contrast with the equity growth of 10.63 %. Due to this the total debt decreased with -8.74 %.
In 2014 the assets of the company were 0.7 % composed of fixed assets and 99.3 % by current assets. The assets are being financed by an equity of 0.06 %, and total debt of 99.94 %.

http://kredietinformatie.creditdevice.nl/cache/ci-report-1307127-EN/BALANCESHEETS-01-bar-large.png

http://kredietinformatie.creditdevice.nl/cache/ci-report-1307127-EN/BALANCESHEETS-02-bar-large.png

 

 

Profit and loss

 

Year

2015

2014

2013

2012

2011

Revenues

1.384.910.468

1.358.396.808

1.489.750.583

1.531.494.152

1.451.748.033

Net turnover

1.384.910.468

1.358.396.808

1.489.750.583

1.531.494.152

1.451.748.033

Gross margin

73.814.122

76.696.935

82.371.947

78.117.695

71.033.998

Wages and salaries

36.880

407.669

218.259

Sales

70.836.520

74.174.432

1.407.378.636

1.453.376.457

1.380.714.035

other operating costs

78.965.744

74.983.966

69.337.434

Operating expenses

1.381.932.866

1.355.874.305

1.486.381.260

1.528.768.092

1.450.269.728

Operating result

2.977.602

2.522.503

3.369.323

2.726.060

1.478.305

Financial income

706

114.661

1.375.912

Financial expenses

3.117.528

2.579.904

2.607.837

Financial result

-2.629.642

-2.300.656

-3.116.822

-2.465.243

-1.231.925

Result on ordinary operations before taxes

347.960

221.847

252.501

260.817

246.380

Taxation on the result of ordinary activities

145.165

193.035

370.397

91.971

87.014

Result of ordinary activities after taxes

202.795

28.812

-117.896

168.846

159.366

Net result

202.795

28.812

-117.896

168.846

159.366

Summary

The turnover of the company grew with 1.95 % between 2014 and 2015.
The gross profit of the company decreased by -3.76 % between 2014 and 2015.
The operating result of the company grew with 18.04 % 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 140 % of the analysed period, being equal to 0.12 in the year 2015.
This growth has contributed to the increase in assets turnover, increasing by 74.19 % reaching 4.86.
The Net Result of the company increased by 603.86 % 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 -6.45 % of the analysed period, being 69.24 in the year 2015.
The company's financial profitability has been positively affected by its financial structure.

The turnover of the company decreased by -8.82 % between 2013 and 2014.
The gross profit of the company decreased by -6.89 % between 2013 and 2014.
The operating result of the company declined with -25.13 % between 2013 and 2014. This evolution implies an decrease of the company's economic profitability.
The company's Economic Profitability did not change during the analysed period, but remained equal to 0.05 in the year 2014.
In result of the unchanged economic profitability the assets turnover stayed the same, the index remained unchanged at 2.79.
The Net Result of the company increased by 124.44 % between 2013 and 2014.
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 -20.58 % of the analysed period, being 74.01 in the year 2014.
The company's financial profitability has been positively affected by its financial structure.

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Analysis

 

Branch (SBI)

Wholesale and intermediary trade of tyres (SBI code 45312)

Region

West-Brabant

Summary

In the Netherlands 5192 of the companies are registered with the SBI code 45312
In the region West-Brabant 244 of the companies are registered with the SBI code 45312
In the Netherlands 77 of the bankrupcties are published within this sector
In the region West-Brabant 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 West-Brabant is normal

Year

2015

Company

2014

Company

2013

Equity

121.068

502.547 

114.977

299.752 

116.494

Working capital

161.456

-2.897.832 

121.389

-3.100.626 

119.219

Balance total

445.573

285.252.248 

450.972

487.421.795 

468.374

Quick ratio

1,00

0,90 

0,96

0,95 

0,93

Current ratio

1,36

0,99 

1,57

0,99 

1,60

Equity / balance total

0,38

0,00 

0,35

0,00 

0,34

Turnover

8.797.050

1.384.910.468 

6.938.587

1.358.396.808 

5.904.860

Net result

1.232.615

202.795 

834.040

28.812 

585.823

 

 

Publications

 

Deposits

09-03-2017: De jaarrekening over 2015 is gepubliceerd.
17-03-2016: De jaarrekening over 2014 is gepubliceerd.
20-01-2015: De jaarrekening over 2013 is gepubliceerd.
02-10-2013: De jaarrekening over 2012 is gepubliceerd.
13-05-2013: De jaarrekening over 2011 is gepubliceerd.

Functions

19-04-2017: Per 01-01-2017 is bestuurder Bertrand Alain Jean Willk- Fabia uit functie getreden.
23-12-2016: Per 01-11-2016 is bestuurder Derek George Milne in functie getreden.
20-09-2016: Per 01-09-2016 is bestuurder Mireille Denise Marie Naveau in functie getreden.
20-09-2016: Per 01-09-2016 is bestuurder Magali Geraldine Clarisse Brière-Besson uit functie getreden.
28-10-2014: Per 22-07-2014 is gevolmachtigde Cathy Peronnin in functie getreden.

Other

02-09-2016: ... Datum deponering: 31-08-2016 Boekjaar: 2015 Soort deponering: Geconsolideerde jaarrekening (art. 408 BW2).

 

 

Company structure

 

Relations

3

Company

Registration number

Spika (63000 Clermont-Ferrand)

| - - Transityre B.V. (Breda)

20054402  

| - - | - - Michelin Distribution B.V. (Breda)

20117241  

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.87

UK Pound

1

INR 90.48

Euro

1

INR 79.48

Euro

1

INR 80.02

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

DNS

 

 

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.