MIRA
INFORM REPORT
|
Report Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
|
Name : |
COMPAGNIE INTERNATIONALE POUR LA VENTE A
DISTANCE |
|
|
|
|
Registered Office : |
22 Rue de la Blanche Porte 59200
TOURCOING (NORD) |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
31/12/2003 |
|
|
|
|
Date of Incorporation : |
01 September 1980 |
|
|
|
|
Com. Reg. No.: |
81B20023 |
|
|
|
|
Legal Form : |
Simplified joint-stock company |
|
|
|
|
Line of Business : |
Engaged in retail sale via mail order
houses |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
Name & address
RCS 321 008 013 - NIC 00013
COMPAGNIE INTERNATIONALE POUR LA VENTE A DISTANCE
Acronym : CIVAD
Trading name
LA BLANCHE PORTE
Address (Head office)
22 Rue de la Blanche Porte 59200 TOURCOING (NORD)
Telephone : 03 20 28 20 28 –
Fax : 03 20 28 20 29
Summery
|
|
|
|
|
|
Legal form |
5710 - Simplified joint-stock company |
|
Registration date |
01 September 1980 |
|
Share capital |
2 280 thousand Euros |
|
RC Number |
81B20023 |
|
Activity |
526A - Retail sale via mail order houses |
|
Staff |
996 |
|
Number of branches |
2 |
|
Trading category |
Direct owner-operator |
|
Banks |
BNPP 59 ROUBAIX |
MAIN DIRECTORS
|
|
|
|
|
|
Chairman |
MONIEZ Jacques |
|
|
Born on 02/04/1949 in ROUBAIX (59) |
Auditorship
|
|
|
|
Titular auditor |
KPMG |
|
|
Titular auditor |
ACEA |
|
|
Substitute auditor |
SCP JEAN CLAUDE ANDRE |
|
|
Substitute auditor |
SAUVAGE Catherine |
|
SHAREHOLDERS & STAKES
|
||
|
|
||
|
Registered shareholder(s) |
1 |
|
|
|
477 180 467 - 3 SUISSES INTERNATIONAL => 97,00% |
|
|
|
||
|
Registered stake(s) |
1 |
|
|
|
349 807 388 - 3S ASSURANCES => 0,06% |
|
REVIEW OF BODACC INCIDENTS
|
|
|
|
|
|
29/06/2005 |
Transfer of auditor |
|
17/11/2004 |
Transfer of auditor |
|
16/04/2004 |
Modification of the legal status |
|
16/04/2004 |
Modification of activity |
|
25/11/2002 |
Modification of the representatives |
FINANCIAL DETAILS
|
|||
|
|
|||
|
|
31/12/2003 |
|
|
|
|
over 12 months |
|
|
|
|
KE |
% |
|
|
Turnover |
195 508 |
NC |
|
|
Export turnover |
7 756 |
NC |
|
|
Earnings before tax |
5 302 |
NC |
|
|
Net income |
2 307 |
NC |
|
|
Equity |
16 726 |
|
Total debts |
57 074 |
|
Working capital |
14 849 |
|
Supplier credit |
21 281 |
|
Total purchase |
212 493 |
|
RATIOS |
31/12/2003 |
MEDIAN |
|
Turnover growth (%) |
NC |
10,53 |
|
Total assets turnover (Number) |
2,38 |
2,03 |
|
Net income (T.O. %) |
1,18 |
1,45 |
|
Cash flow (T.O. %) |
9,89 |
7,35 |
|
Supplier credit (Purch. days excl. of tax) |
30,15 |
57,42 |
|
Accounts receivables (T.O. days) |
29,46 |
38,83 |
|
Interest expenses / EBIT (%) |
-1,59 |
0,79 |
|
Wages (%) |
13,58 |
9,58 |
The 2003 turnover is of 195 508 thousand Euros (over a period of 12 months).
From it can be drawn a net income of 2 307 thousand Euros.
The total of the balance sheet of 82 069 thousand Euros is composed of up to 9,62 % of the fixed assets and up to 80,56 % of the circulating assets.
With financial independence of 20,38 % the company has global liabilities amounting to 57 074 thousand Euros, with financial debts representing 2,03 % of all liabilities.
They generate financial costs of up to -1,59 % of the EBITDA (Earning Before Interest, Taxes, Depreciation & Amortisation), compared to a sector-based average of 0,79 %.
The self-financing capacity is of 19 339 thousand Euros, i.e. 9,89 % of the turnover for an average of 7,35 %.
KEY FIGURES
|
|
|
|
|
|
Estimated turnover (2004) |
200 000 KE |
Auditor's opinion
|
|
|
|
Approved without reservations or observations for the financial year ending 31/12/2003 |
LEGAL PROCEEDINGS
|
|
|
|
|
|
|
None |
DEVELOPMENT OF COMMERCIAL RISK
|
|
|
|
|
|
November 2006 |
Average risk |
|
May 2006 |
Average risk |
|
November 2005 |
Average risk |
|
May 2005 |
Average risk |
OPINION
|
|
|
|
|
|
Last update |
03 October 2006 |
|
SEREFAC guarantee |
Yes |
|
|
|
|
Financial structure |
Balanced |
|
Cash |
Mediocre |
|
Profitability |
Low |
|
Commitments |
Respected |
|
Payments |
Nothing to report |
|
Defaults |
None |
|
Subject history |
Favourable |
|
|
|
|
Credit limit |
150 000 E |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|