|
|
|
MIRA INFORM REPORT
|
Report No. : |
500209 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MEYN FOOD
PROCESSING TECHNOLOGY B.V. |
|
|
|
|
Registered Office : |
Westeinde 6, 1511 MA Oostzaan |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
01.01.1959 |
|
|
|
|
Com. Reg. No.: |
35015165 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Designing, manufacturing, hiring and leasing of, as well as trading in
machines, installations and systems in general and in particular for the
poultry processing and food industry and in the field of cooling, water
purification, rendering and process control |
|
|
|
|
No. of Employees : |
438 [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 : |
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 |
Summary
|
Company name |
MEYN FOOD
PROCESSING TECHNOLOGY B.V. |
|
Operative address |
Westeinde 6 |
|
Status |
Active |
|
Specification |
This company can meet all its obligations. |
|
Legal form |
Private Limited Company |
||||
|
Registration number |
KvK-nummer: 35015165 |
||||
|
VAT-number |
005421184 |
||||
|
European VAT-number |
NL005421184B01 |
||||
|
|
|
||||
|
Year |
2016 |
Mutation |
2015 |
Mutation |
2014 |
|
Fixed assets |
108.829.000 |
43,31 |
75.938.000 |
-8,69 |
83.165.000 |
|
Total receivables |
56.385.000 |
7,66 |
52.375.000 |
29,64 |
40.401.000 |
|
Total equity |
125.607.000 |
76,47 |
71.178.000 |
-14,01 |
82.778.000 |
|
Short term liabilities |
72.812.000 |
-0,03 |
72.831.000 |
16,42 |
62.558.000 |
|
Net result |
38.764.000 |
28,94 |
30.063.000 |
||
|
Working capital |
94.731.000 |
26,93 |
74.634.000 |
30,63 |
57.132.000 |
|
Quick ratio |
1,82 |
13,04 |
1,61 |
8,05 |
1,49 |
Contact information
|
Company name |
Meyn Food Processing Technology B.V. |
|
Trade names |
Meijn
Refrigeration |
|
Operative address |
Westeinde 6 |
|
Correspondence address |
Westeinde 6 |
|
Telephone number |
0202045000 |
|
Fax number |
0202045001 |
|
Email address |
info@meyn.nl |
|
Website |
WWW.MEYN.NL |
Registration
|
Registration number |
KvK-nummer: 35015165 |
|
Branch number |
000017503620 |
|
VAT-number |
005421184 |
|
European VAT-number |
NL005421184B01 |
|
Status |
Active |
|
First registration company register |
1979-08-13 |
|
Memorandum |
1979-08-13 |
|
Establishment date |
1959-01-01 |
|
Legal form |
Private Limited Company |
|
Legal person since |
1979-08-13 |
|
Last proposed admendment |
2010-02-09 |
|
Issued placed capital |
EUR 46.000 |
|
Paid up share capital |
EUR 46.000 |
Activities
|
SBI |
2893: Manufacture of machinery for food, beverage
and tobacco processing |
|
Exporter |
No |
|
Importer |
No |
|
Goal |
Designing, manufacturing, hiring and leasing of, as well as trading in
machines, installations and systems in general and in particular for the poultry
processing and food industry and in the field of cooling, water purification,
rendering and process control |
Relations
|
Shareholders |
Meyn
Beheer B.V. |
|
Affiliates |
Numafa
Holding B.V. |
|
Branches |
Meyn
Food Processing Technology B.V. Meyn
Food Processing Technology B.V. |
|
Companies on same address |
Meyn
Beheer B.V. Meyn
Holding B.V. |
|
Liability statements |
Meyn
Holding B.V. |
Bank details
|
Accounts |
ABN
Amro Bank NV ABN
Amro Bank NV Rabobank
Nederland |
Management
|
Active management |
Meyn
Beheer B.V. E.
Blom Erik Meyn
Beheer B.V. Numafa
Holding B.V. Meyn
Holding B.V. |
Employees
|
Year |
2017 |
2015 |
2011 |
2010 |
2009 |
|
Chamber of Commerce |
438 |
334 |
448 |
546 |
550 |
Payments
|
Description |
Regular |
|
Total |
EUR 197.927 |
|
|
|
Registered debt collection |
Yes |
|
|
|
Last quarter |
Last year |
||
|
Average payment period (days) |
31 |
32 |
|
|
Average delay (days) |
2 |
4 |
|
|
|
|
|
|
|
Quarter |
Volume |
Not overdue |
1-30 |
31-60 |
61-90 |
91-120 |
121+ |
|
2018 Q1 |
C |
88,00% |
10,00% |
0,00% |
1,00% |
1,00% |
0,00% |
|
2017 Q4 |
D |
80,00% |
7,00% |
1,00% |
3,00% |
7,00% |
3,00% |
|
2017 Q3 |
B |
70,00% |
29,00% |
0,00% |
1,00% |
0,00% |
0,00% |
|
2017 Q2 |
C |
91,00% |
9,00% |
0,00% |
0,00% |
0,00% |
0,00% |
|
2017 Q1 |
D |
85,00% |
2,00% |
13,00% |
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) |
52 |
47 |
||||||
|
Average delay (days) |
29 |
24 |
||||||
|
Quarter |
Not overdue |
1-30 |
31-60 |
61-90 |
91-120 |
121+ |
|
|
|
2018 Q1 |
69,00% |
25,00% |
3,00% |
1,00% |
0,00% |
2,00% |
|
|
|
2017 Q4 |
68,00% |
23,00% |
4,00% |
1,00% |
1,00% |
3,00% |
|
|
|
2017 Q3 |
62,00% |
29,00% |
5,00% |
1,00% |
1,00% |
2,00% |
|
|
|
2017 Q2 |
61,00% |
28,00% |
5,00% |
1,00% |
2,00% |
3,00% |
|
|
|
2017 Q1 |
57,00% |
34,00% |
5,00% |
1,00% |
1,00% |
2,00% |
|
|
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 |
1,82 |
1,61 |
1,49 |
0,94 |
0,68 |
|
Current ratio |
2,30 |
2,02 |
1,91 |
1,30 |
1,04 |
|
Working capital/ balance total |
0,34 |
0,33 |
0,28 |
0,11 |
0,02 |
|
Equity / balance total |
0,45 |
0,32 |
0,41 |
0,15 |
0,10 |
|
Equity / Fixed assets |
1,15 |
0,94 |
1,00 |
0,29 |
0,18 |
|
Equity / liabilities |
0,99 |
0,55 |
0,69 |
0,22 |
0,13 |
|
Balance total / liabilities |
2,18 |
1,73 |
1,69 |
1,44 |
1,30 |
|
Working capital |
94.731.000 |
74.634.000 |
57.132.000 |
17.768.000 |
3.299.000 |
|
Equity |
125.607.000 |
71.178.000 |
82.778.000 |
25.465.000 |
16.706.000 |
|
Mutation equity |
76,47 |
-14,01 |
225,07 |
52,43 |
-9,08 |
|
Mutation short term liabilities |
-0,03 |
16,42 |
6,09 |
-20,12 |
-6,27 |
|
Return on total assets (ROA) |
24,38 |
16,44 |
11,34 |
3,61 |
|
|
Return on equity (ROE) |
76,53 |
40,28 |
73,92 |
36,40 |
|
|
Gross profit margin |
21,79 |
15,96 |
10,86 |
5,16 |
|
|
Net profit margin |
15,27 |
13,91 |
6,78 |
-0,27 |
|
|
Average collection ratio |
3,77 |
3,49 |
3,45 |
3,26 |
2,70 |
|
Average payment ratio |
4,87 |
4,85 |
5,35 |
4,79 |
4,65 |
|
Equity turnover ratio |
2,18 |
3,57 |
2,61 |
7,54 |
11,93 |
|
Total assets turnover ratio |
0,99 |
1,14 |
1,07 |
1,16 |
1,18 |
|
Fixed assets turnover ratio |
2,52 |
3,34 |
2,60 |
2,15 |
2,18 |
|
Inventory conversion ratio |
7,91 |
8,40 |
8,15 |
9,12 |
7,50 |
|
Turnover |
274.421.000 |
253.918.000 |
216.106.000 |
192.066.000 |
199.384.000 |
|
Operating result |
61.395.000 |
55.335.000 |
34.491.000 |
20.851.000 |
10.294.000 |
|
Net result after taxes |
46.174.000 |
38.764.000 |
30.063.000 |
13.017.000 |
-529.000 |
|
EBIT |
61.395.000 |
55.335.000 |
34.491.000 |
20.851.000 |
10.294.000 |
|
Summary |
The 2016 financial
result structure is a postive working captial of 94.731.000 euro, which is in
agreement with 34 % of the total assets of the company. |
||||
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 |
Meyn
Holding B.V. |
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. |
|
Intangible fixed assets |
45.406.000 |
53.865.000 |
60.698.000 |
64.617.000 |
67.622.000 |
|
Tangible fixed assets |
15.723.000 |
14.373.000 |
14.767.000 |
16.977.000 |
16.229.000 |
|
Financial fixed assets |
47.700.000 |
7.700.000 |
7.700.000 |
7.700.000 |
7.700.000 |
|
Fixed assets |
108.829.000 |
75.938.000 |
83.165.000 |
89.294.000 |
91.551.000 |
|
Total stock |
34.700.000 |
30.242.000 |
26.502.000 |
21.064.000 |
26.587.000 |
|
Accounts receivable |
24.723.000 |
23.784.000 |
|||
|
Other receivables |
15.414.000 |
19.088.000 |
|||
|
Total receivables |
56.385.000 |
52.375.000 |
40.401.000 |
40.137.000 |
42.872.000 |
|
Liquid funds |
76.458.000 |
64.848.000 |
52.787.000 |
15.532.000 |
7.657.000 |
|
Current assets |
167.543.000 |
147.465.000 |
119.690.000 |
76.733.000 |
77.116.000 |
|
Total assets |
276.372.000 |
223.403.000 |
202.855.000 |
166.027.000 |
168.667.000 |
|
Minority interests |
23.849.000 |
23.125.000 |
25.163.000 |
22.000.000 |
|
|
Total equity |
125.607.000 |
71.178.000 |
82.778.000 |
25.465.000 |
16.706.000 |
|
Provisions |
4.088.000 |
6.269.000 |
7.519.000 |
6.434.000 |
5.962.000 |
|
Long term interest yielding debt |
50.016.000 |
50.000.000 |
50.000.000 |
25.000.000 |
182.000 |
|
Financial debts |
25.000.000 |
50.000.000 |
|||
|
Long term liabilities |
50.016.000 |
50.000.000 |
50.000.000 |
50.000.000 |
50.182.000 |
|
Accounts payable |
8.280.000 |
17.913.000 |
|||
|
Other short term liabilities |
50.685.000 |
55.904.000 |
|||
|
Short term liabilities |
72.812.000 |
72.831.000 |
62.558.000 |
58.965.000 |
73.817.000 |
|
Total short and long term liabilities |
126.916.000 |
129.100.000 |
120.077.000 |
115.399.000 |
129.961.000 |
|
Total liabilities |
276.372.000 |
223.403.000 |
202.855.000 |
166.027.000 |
168.667.000 |
|
Summary |
The total
assets of the company increased with 23.71 % between 2015 and 2016. |
||||
Profit and loss
|
Year |
2015 |
2014 |
2013 |
2012 |
|
|
Revenues |
255.382.000 |
219.976.000 |
189.595.000 |
203.146.000 |
|
|
Other operating income |
1.464.000 |
3.870.000 |
-2.471.000 |
3.762.000 |
|
|
Net turnover |
253.918.000 |
216.106.000 |
192.066.000 |
199.384.000 |
|
|
Changes in inventories of finished goods
and work in progress |
1.464.000 |
3.870.000 |
-2.471.000 |
3.762.000 |
|
|
Operating expenses |
200.047.000 |
185.485.000 |
168.744.000 |
192.852.000 |
|
|
Operating result |
55.335.000 |
34.491.000 |
20.851.000 |
10.294.000 |
|
|
Financial income |
419.000 |
1.121.000 |
|||
|
Financial expenses |
2.446.000 |
5.334.000 |
|||
|
Financial result |
-866.000 |
-1.147.000 |
-2.027.000 |
-4.213.000 |
|
|
Result on ordinary operations before taxes |
54.469.000 |
33.344.000 |
18.824.000 |
6.081.000 |
|
|
Taxation on the result of ordinary
activities |
15.705.000 |
3.281.000 |
5.729.000 |
2.251.000 |
|
|
Result of ordinary activities after taxes |
38.764.000 |
30.063.000 |
13.095.000 |
3.830.000 |
|
|
Extraordinary expense |
78.000 |
4.359.000 |
|||
|
Extraordinary result after taxation |
-78.000 |
-4.359.000 |
|||
|
Net result |
38.764.000 |
30.063.000 |
13.017.000 |
-529.000 |
|
|
Summary |
The turnover of
the company grew with 8.07 % between 2015 and 2016. |
||||
Analysis
|
Branch (SBI) |
Manufacture of machinery for food, beverage
and tobacco processing (SBI code 2893) |
||||
|
Region |
Groot Amsterdam |
||||
|
Summary |
In the
Netherlands 1578 of the companies are registered with the SBI code 2893 |
||||
|
|
|
||||
|
Year |
2016 |
Company |
2015 |
Company |
2014 |
|
Equity |
102.299 |
125.607.000 |
105.009 |
71.178.000 |
106.859 |
|
Working capital |
83.849 |
94.731.000 |
67.685 |
74.634.000 |
83.262 |
|
Balance total |
524.809 |
276.372.000 |
531.827 |
223.403.000 |
567.316 |
|
Quick ratio |
1,07 |
1,82 |
1,16 |
1,61 |
1,11 |
|
Current ratio |
1,15 |
2,30 |
1,36 |
2,02 |
1,44 |
|
Equity / balance total |
0,30 |
0,45 |
0,34 |
0,32 |
0,32 |
|
Turnover |
11.517.218 |
274.421.000 |
11.934.561 |
253.918.000 |
9.491.880 |
|
Net result |
1.408.744 |
38.764.000 |
1.013.987 |
||
Publications
|
Consent statements |
15-01-2018: Voor boekjaar 2017 is een
instemmingsverklaring gedeponeerd. |
|
Liability statements |
08-08-2017: Per 14-02-2014 is een
aansprakelijkheidsverklaring door Meyn Beheer B.V. ingetrokken. |
|
Functions |
27-11-2014: Per 17-11-2014 is bestuurder
Herman Hubertus Jacobus Defauwes uit functie getreden. |
Company structure
|
Relations |
21 |
|
|
|
|
Company |
Registration number |
|
CTB Inc. (Milford, Indiana 46542) |
|
|
| - - Chore-Time Brock Holding B.V. (AMSTERDAM) |
|
|
| - - | - - Meyn
Holding B.V. (OOSTZAAN) |
|
|
| - - | - - | - - Meyn Beheer B.V. (OOSTZAAN) |
|
|
| - - | - - | - - | - - Numafa Holding B.V. (NUMANSDORP) |
|
|
| - - | - - | - - | - - | - - Systemate Numafa B.V. (NUMANSDORP) |
|
|
| - - | - - | - - | - - Meyn Food Processing Technology B.V. (Oostzaan) |
|
|
| - - | - - CTB
M&L Holdings B.V. (AMSTERDAM) |
|
|
| - - | - - CTB Global
Holding B.V. (AMSTERDAM) |
|
|
| - - | - - CTB
Legacy Holding B.V. (AMSTERDAM) |
|
|
| - - | - - | - - Fancom Holding B.V. (Panningen) |
|
|
| - - | - - | - - | - - Fancom B.V. (Panningen) |
|
|
| - - | - - | - - | - - | - - Masterfan Ventilatie B.V. (PANNINGEN) |
|
|
| - - | - - | - - Chore-Time Europe B.V. (PANNINGEN) |
|
|
| - - | - - | - - | - - Volito Group B.V. (Veenendaal) |
|
|
| - - | - - | - - | - - | - - Volito B.V. (VEENENDAAL) |
|
|
| - - | - - | - - | - - | - - Frezabo B.V. (DODEWAARD) |
|
|
| - - | - - | - - | - - | - - Spirado B.V. (AMERSFOORT) |
|
|
| - - | - - | - - Porcon B.V. (DEURNE) |
|
|
| - - | - - | - - UniQFill International B.V. (PANNINGEN) |
|
|
| - - | - - | - - | - - UniQFill Air B.V. (Panningen) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
Euro |
1 |
INR 80.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.