MIRA INFORM REPORT

 

 

Report No. :

510600

Report Date :

24.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TRIMBLE EUROPE B.V.

 

 

Registered Office :

Meerheide 45, 5521dz Eersel

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

17.09.1974

 

 

Com. Reg. No.:

KvK-nummer: 17035763

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Wholesale of electronic and communication equipment and related parts

·         Wholesale of optical articles

·         Purchasing, selling, importing, exporting, distributing, storing, packaging, testing, checking and assembling goods, hardware and software, as well as providing sales support and market research, in particular for the European market, the Middle East East and Africa

 

 

No. of Employees :

21

 

 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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 address ‘

 

Company name

Trimble Europe B.V.

Operative address

Meerheide 45
5521DZ Eersel
Netherlands

Status

Active

 

Legal form

Private Limited Company

Registration number

KvK-nummer: 17035763

VAT-number

003257447

European VAT-number

NL003257447B01

Year

2015

Mutation

2014

Mutation

2013

Fixed assets

777.413.474

19,88 

648.500.627

44,62 

448.412.019

Total receivables

159.707.918

-19,12 

197.472.104

46,78 

134.537.745

Total equity

89.107.197

12,97 

78.875.671

71,34 

46.035.097

Short term liabilities

893.149.680

31,25 

680.491.386

21,93 

558.122.703

Net result

-19.010.748

-228,55 

14.788.725

21,74 

12.147.778

Working capital

-633.625.462

-67,23 

-378.895.291

-13,47 

-333.905.454

Quick ratio

0,18

-40,00 

0,30

15,38 

0,26

 

 

Contact information

 

Company name

Trimble Europe B.V.

Trade names

Trimble Europe B.V.
Trimble
Laser plane
Spectra Precision

Operative address

Meerheide 45
5521DZ Eersel
Netherlands

Correspondence address

Meerheide 45
5521DZ Eersel
Netherlands

 

Telephone number

0497532451

Fax number

0497532450

Email address

erfcissues@trimble.com

Website

www.trimble.com

 

 

Registration

 

Registration number

KvK-nummer: 17035763

Branch number

000020089147

VAT-number

003257447

European VAT-number

NL003257447B01

Status

Active

First registration company register

1974-10-07

Memorandum

1974-09-17

Establishment date

1974-09-17

 

Legal form

Private Limited Company

Last proposed admendment

2006-11-21

Issued placed capital

EUR 22.750

Paid up share capital

EUR 22.750

 

 

Activities

 

SBI

46436: Wholesale of optical articles
4652: Wholesale of electronic and communication equipment and related parts

Exporter

Yes

Importer

Yes

 

Goal

Purchasing, selling, importing, exporting, distributing, storing, packaging, testing, checking and assembling goods, hardware and software, as well as providing sales support and market research, in particular for the European market, the Middle East East and Africa

 

 

Relations

 

Shareholders

TNL Technology Holdings C.V.
55 Market Street # 15-01
048941 Singapore
Singapore
Registration number: 24405836
Percentage: 100%

Affiliates

Trimble B.V.
Meerheide 45
5521DZ EERSEL
Netherlands
Registration number: 67644333

 

Subsidiaries

Trimble Loadrite Europe B.V.
Meerheide 45
5521DZ EERSEL
Netherlands
Registration number: 27306266

 

Trimble International B.V.
Meerheide 45
5521DZ Eersel
Netherlands
Registration number: 53854640

 

Stabiplan Holding B.V.
Sloep 1
2411CD BODEGRAVEN
Netherlands
Registration number: 62132091

Companies on same address

Trimble International B.V.
Registration number: 53854640

 

Gehry Technologies Netherlands B.V.
Registration number: 55496342

 

Trimble B.V.
Registration number: 67644333

 

Trimble Eersel B.V.
Registration number: 68743386

 

 

Management

 

Active management

J.A. Kirkland James Anthony
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2008-08-26
Date of birth: 1959-05-19, Buffalo, NL
Involved with the following companies:

LogicWay B.V.
Zandbreeweg 12 BE1
7577BZ OLDENZAAL
Netherlands
Registration number: 08205937
Function: Manager
Starting date: 2012-09-05

 

Trimble B.V.
Meerheide 45
5521DZ EERSEL
Netherlands
Registration number: 67644333
Function: Manager
Starting date: 2016-12-28

 

L.K. Lambertson Leah Kay
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2008-11-15
Date of birth: 1967-11-22, Seattle, NL

 

W.J.A. van Kollenburg Wilhelmus Johannes Adrianus
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2009-06-15
Date of birth: 1957-01-14, Udenhout, NL
Involved with the following companies:

Trimble International B.V.
Meerheide 45
5521DZ Eersel
Netherlands
Registration number: 53854640
Function: Manager
Starting date: 2011-11-16

 

Trimble B.V.
Meerheide 45
5521DZ EERSEL
Netherlands
Registration number: 67644333
Function: Manager
Starting date: 2016-12-28

 

R.H.H. Reeder Robbert Hendrik Herman
Netherlands
Competence: Jointly authorized
Function: Manager
Starting date: 2015-10-01
Date of birth: 1970-04-03, IJsselstein, NL
Involved with the following companies:

Trimble International B.V.
Meerheide 45
5521DZ Eersel
Netherlands
Registration number: 53854640
Function: Manager
Starting date: 2015-10-01

 

Trimble B.V.
Meerheide 45
5521DZ EERSEL
Netherlands
Registration number: 67644333
Function: Manager
Starting date: 2016-12-28

 

J.A. Kirkland James Anthony
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-09-24
Date of birth: 1959-05-19, Buffalo, NL
Involved with the following companies:

LogicWay B.V.
Zandbreeweg 12 BE1
7577BZ OLDENZAAL
Netherlands
Registration number: 08205937
Function: Manager
Starting date: 2012-09-05

 

Trimble B.V.
Meerheide 45
5521DZ EERSEL
Netherlands
Registration number: 67644333
Function: Manager
Starting date: 2016-12-28

 

 

Employees

 

Year

2016

2015

2014

2013

2012

Annual

37

34

34

32

Chamber of Commerce

21

21

21

21

 

 

Payments

 

Description

No Complaints

 

Payments within industry

Last quarter

Last year

Average payment period (days)

36

33

Average delay (days)

17

15

 

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q2

52,00%

30,00%

8,00%

7,00%

0,00%

2,00%

2018 Q1

59,00%

27,00%

8,00%

5,00%

0,00%

1,00%

2017 Q4

53,00%

26,00%

11,00%

5,00%

1,00%

4,00%

2017 Q3

61,00%

27,00%

5,00%

2,00%

1,00%

4,00%

2017 Q2

51,00%

34,00%

8,00%

5,00%

1,00%

2,00%

 

 

Key figures

 

Year

2015

2014

2013

2012

2011

Quick ratio

0,18

0,30

0,26

0,22

0,38

Current ratio

0,29

0,44

0,40

0,34

0,59

Working capital/ balance total

-0,61

-0,40

-0,50

-0,63

-0,22

Equity / balance total

0,09

0,08

0,07

0,05

0,04

Equity / Fixed assets

0,11

0,12

0,10

0,07

0,06

Equity / liabilities

0,09

0,09

0,07

0,05

0,04

Balance total / liabilities

1,09

1,09

1,07

1,05

1,04

Working capital

-633.625.462

-378.895.291

-333.905.454

-439.561.938

-137.538.461

Equity

89.107.197

78.875.671

46.035.097

35.422.163

25.716.054

Mutation equity

12,97

71,34

29,96

37,74

45,79

Mutation short term liabilities

31,25

21,93

-16,02

97,88

0,97

Return on total assets (ROA)

-1,32

2,09

2,41

1,96

1,60

Return on equity (ROE)

-15,40

25,18

35,23

38,81

39,04

Gross profit margin

-2,72

1,62

3,50

1,75

1,67

Net profit margin

-2,55

1,94

1,91

1,60

1,33

Average collection ratio

0,84

1,12

1,14

0,96

1,68

Average payment ratio

4,67

3,85

4,73

4,73

4,74

Equity turnover ratio

8,38

9,64

13,82

18,05

21,88

Total assets turnover ratio

0,72

0,80

0,95

0,91

0,90

Fixed assets turnover ratio

0,96

1,17

1,42

1,34

1,31

Inventory conversion ratio

7,86

8,07

8,22

7,95

8,04

Turnover

746.373.700

760.390.037

636.190.285

639.391.413

562.643.218

Gross margin

367.153.507

393.778.737

327.621.646

328.954.840

297.289.614

Operating result

-20.279.233

12.339.999

22.236.967

11.195.241

9.370.895

Net result after taxes

-19.010.748

14.788.725

12.147.778

10.203.123

7.490.533

EBIT

-20.279.233

12.339.999

22.236.967

11.195.241

9.370.895

Summary

The 2015 financial result structure is a negative working captial of -633.625.462 euro, which is in agreement with -61 % of the total assets of the company.
The working capital has diminished with -67.23 % 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 0.29. 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 0.18. 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 -378.895.291 euro, which is in agreement with -40 % of the total assets of the company.
The working capital has diminished with -13.47 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The deterioration between 2013 and 2014 has mainly been caused by a change of the current assets.
The current ratio of the company in 2014 was 0.44. 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 0.3. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

 

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

Trimble Europe B.V.
Meerheide 45
5521DZ Eersel
Netherlands
Registration number: 17035763

 

 

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

Intangible fixed assets

642.969

237.213

335.726

464.605

493.856

Tangible fixed assets

180.031

280.866

429.265

193.270

183.940

Financial fixed assets

776.590.474

647.982.548

447.647.027

475.775.369

427.869.268

Fixed assets

777.413.474

648.500.627

448.412.019

476.433.244

428.547.064

Total stock

94.979.339

94.233.542

77.356.249

80.397.911

69.990.731

Accounts receivable

98.141.544

102.590.575

92.684.914

Other receivables

36.396.201

32.586.783

26.092.436

Total receivables

159.707.918

197.472.104

134.537.745

135.177.358

118.777.350

Liquid funds

4.836.962

9.890.449

12.323.255

9.483.857

9.564.882

Current assets

259.524.218

301.596.095

224.217.249

225.059.126

198.332.963

Total assets

1.036.937.692

950.096.722

672.629.268

701.492.370

626.880.027

Issued capital

29.393

26.357

23.204

24.253

24.731

Share premium reserve

33.468.359

11.975.120

Other reserves

55.609.446

66.874.195

46.011.893

35.397.909

25.691.323

Total reserves

89.077.804

78.849.315

46.011.893

35.397.909

25.691.323

Total equity

89.107.197

78.875.671

46.035.097

35.422.163

25.716.054

Long term interest yielding debt

54.680.815

190.729.665

68.471.469

1.449.144

265.292.548

Long term liabilities

54.680.815

190.729.665

68.471.469

1.449.144

265.292.548

Accounts payable

32.395.041

33.587.996

27.313.550

Other short term liabilities

525.727.662

631.033.068

308.557.874

Short term liabilities

893.149.680

680.491.386

558.122.703

664.621.064

335.871.424

Total short and long term liabilities

947.830.495

871.221.051

626.594.171

666.070.207

601.163.972

Total liabilities

1.036.937.692

950.096.722

672.629.268

701.492.370

626.880.027

Summary

The total assets of the company increased with 9.14 % between 2014 and 2015.
The total asset increase is retrievable in the fixed asset growth of 19.88 %.
The asset growth has mainly been financed by a Net Worth increase of 12.97 %. Debt, however, grew with 8.79 %.
In 2015 the assets of the company were 74.97 % composed of fixed assets and 25.03 % by current assets. The assets are being financed by an equity of 8.59 %, and total debt of 91.41 %.

The total assets of the company increased with 41.25 % between 2013 and 2014.
The total asset increase is retrievable in the fixed asset growth of 44.62 %.
The asset growth has mainly been financed by a Net Worth increase of 71.34 %. Debt, however, grew with 39.04 %.
In 2014 the assets of the company were 68.26 % composed of fixed assets and 31.74 % by current assets. The assets are being financed by an equity of 8.3 %, and total debt of 91.7 %.

 

 

Profit and loss

 

Year

2015

2014

2013

2012

2011

Revenues

746.373.700

760.390.037

636.190.285

639.391.413

562.643.218

Net turnover

746.373.700

760.390.037

636.190.285

639.391.413

562.643.218

Gross margin

367.153.507

393.778.737

327.621.646

328.954.840

297.289.614

Wages and salaries

2.817.055

2.736.092

Sales

379.220.193

381.438.738

308.568.640

310.436.573

287.918.719

other operating costs

387.432.740

302.567.624

315.023.507

Operating expenses

766.652.933

748.050.038

613.953.318

628.196.172

553.272.323

Result in subsidiaries

-11.139.874

Operating result

-20.279.233

12.339.999

22.236.967

11.195.241

9.370.895

Financial income

6.552.770

7.518.323

3.020.312

1.112.142

Financial expenses

469.911

443.620

Financial result

6.552.770

7.518.323

5.119.281

2.550.402

668.522

Result on ordinary operations before taxes

-13.726.464

19.858.321

16.216.373

13.745.642

10.039.417

Taxation on the result of ordinary activities

5.284.284

5.069.596

4.068.596

3.542.519

2.548.883

Result of ordinary activities after taxes

-19.010.748

14.788.725

12.147.778

10.203.123

7.490.533

Net result

-19.010.748

14.788.725

12.147.778

10.203.123

7.490.533

Summary

The turnover of the company decreased by -1.84 % between 2014 and 2015.
The gross profit of the company decreased by -6.76 % between 2014 and 2015.
The operating result of the company declined with -264.34 % 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 -163.16 % of the analysed period, being equal to -1.32 in the year 2015.
This fall has contributed to a asset turnover decrease, whose index evolved from -10 to a level of 0.72.
The Net Result of the company decreased by -228.55 % 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 -161.16 % of the analysed period, being -15.4 in the year 2015.
The company's financial profitability has been positively affected by its financial structure.

The turnover of the company grew with 19.52 % between 2013 and 2014.
The gross profit of the company grew with 20.19 % between 2013 and 2014.
The operating result of the company declined with -44.51 % between 2013 and 2014. 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 -13.28 % of the analysed period, being equal to 2.09 in the year 2014.
This fall has contributed to a asset turnover decrease, whose index evolved from -15.79 to a level of 0.8.
The Net Result of the company increased by 21.74 % 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 -28.53 % of the analysed period, being 25.18 in the year 2014.
The company's financial profitability has been positively affected by its financial structure.

 

 

Analysis

 

Branch (SBI)

Wholesale of optical articles (SBI code 46436)

Region

Zuidoost-Noord-Brabant

Summary

In the Netherlands 4015 of the companies are registered with the SBI code 46436
In the region Zuidoost-Noord-Brabant 183 of the companies are registered with the SBI code 46436
In the Netherlands 29 of the bankrupcties are published within this sector
In the region Zuidoost-Noord-Brabant 1 of the bankruptcies are published within this sector
The risk of this specific sector in the Netherlands is High
The risk of this specific sector in the region Zuidoost-Noord-Brabant is High

Year

2015

Company

2014

Company

2013

Equity

17.664.105

89.107.197 

27.621.000

78.875.671 

25.806.332

Working capital

8.922.000

-633.625.462 

11.278.343

-378.895.291 

10.315.905

Balance total

44.329.185

1.036.937.692 

64.995.755

950.096.722 

56.930.707

Quick ratio

1,29

0,18 

1,24

0,30 

1,20

Current ratio

1,55

0,29 

1,47

0,44 

1,49

Equity / balance total

0,49

0,09 

0,41

0,08 

0,38

Turnover

96.355.325

746.373.699 

101.784.000

760.390.037 

78.480.297

Net result

1.531.000

-19.010.748 

1.611.000

14.788.725 

2.477.867

 

 

Publications

 

Deposits

13-02-2017: De jaarrekening over 2014 is gepubliceerd.
23-06-2015: De jaarrekening over 2013 is gepubliceerd.
02-06-2014: De jaarrekening over 2012 is gepubliceerd.

Functions

20-04-2016: Per 26-01-2016 is bestuurder Hans-Jürgen Gebauer uit functie getreden.
03-11-2015: Per 01-11-2015 is bestuurder Antonius Bastiaan Maria Snijders uit functie getreden.
14-10-2015: Per 01-10-2015 is bestuurder Robbert Hendrik Herman Reeder in functie getreden.

Other

07-10-2015: Geplaatst kapitaal gewijzigd in EUR 22.750,00 Gestort kapitaal gewijzigd in EUR 22.750,00.

 

 

Company structure

 

Relations

8

Company

Registration number

TNL Technology Holdings C.V. (Singapore)

24405836  

| - - Trimble B.V. (EERSEL)

67644333  

| - - Trimble Europe B.V. (Eersel)

17035763  

| - - | - - Stabiplan Holding B.V. (BODEGRAVEN)

62132091  

| - - | - - | - - Stabiplan B.V. (Bodegraven)

29035375  

| - - | - - | - - Stabiplan International B.V. (Bodegraven)

28110408  

| - - | - - Trimble International B.V. (Eersel)

53854640  

| - - | - - Trimble Loadrite Europe B.V. (EERSEL)

27306266  

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.02

UK Pound

1

INR 91.25

Euro

1

INR 80.07

Euro

1

INR 80.20

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

KET

                                                


 

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.