MIRA
INFORM REPORT
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Report Date : |
17.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
Ferromex NV |
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Registered Office : |
Lange Klarenstraat 16/20 2000 Antwerpen |
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Country : |
Belgium
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Financials (as on) : |
30.09.2005 |
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Date of Incorporation : |
01/12/1994 |
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Legal Form : |
Public
Limited Company |
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Line of Business : |
International
trade in steel products and non-ferrous metals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
Ferromex NV
address
lange
Klarenstraat 16/20
2000 ANTWERPEN
Tel.:+31
(0)3-2034260
Fax.:+31
(0)3-2034269
Legal status
NV Public limited company [nat. law]
Founded
01/12/1994 as P.l.c.
Trade register
52306708
Capital
nominal EUR 124.000,--
issued and paid up EUR 124.000,--
Management
Francois
Albert Lodedwijk Maria Alexander,
De
Koninckstraat 25, Antwerpen
Karel
Francisca Lodwijk Pannemans,
Rodedreef
49, 2970 Schilde
Lucien
Hugo Joannes Smolders,
Deurnestraat
158, 2640 Mortsel
Steelforce,
Antwerpen (reprersentetd by messrs. Alexander and Pannemans
Petrus Jacobus Jozef Muyters,
Kattenstraat
39, 2000 Antwerpen
Activity
International trade in steel products and
non-ferrous metals.
Staff
10 employees
Turnover
Net turnover:
2005
Euro 175.854.006
2004
Euro 96.736.011
2003
Euro 43.644.010
Real estate
The business premises at the mentioned address
has been rented by the company, as far as we know.
Finances
See balance sheet
Remarks
Subsidiary company of
-Promatex
NV,
Gramayestraat
4, 2000 ANTWERPEN
Net result:
2005 Euro 1.123.999
2004 Euro 941.995
2003 Euro 361.007
The shareholders equity was as of:
30/09/2005 Euro 1.732.999
30/09/2004 Euro 1.609.003
30/09/2003 Euro 667.007
The working
capital was as of:
30/09/2005 Euro 1.579.999
30/09/2004 Euro 1.568.992
30/09/2003 Euro 644.002
Other bankers:
KBC Bank, account
no. 410-0656301-22
Website :
www.steelforce.be
According to own
statement, Steelforce Asia NV is the new name of subject matter, adopted eff.
01.01.2006. This is not yet officially on record with the Chamber of Commerce.
Banks
Fortis Bank, 220-0028490-08
ING Bank, 320-0036022-08
VAT-nr.
BE453892593
Mode of payment
No complaints have been registered
Credit demand
No objections against entering into a business
relationship.
The following
financial data is retrieved from the corporate balance sheet of :
Ferromex NV
lange Klarenstraat
16/20, 2000 ANTWERPEN
Trade register 52306708
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Ferromex
NV ***
BALANCE SHEET ***
Corporate
in Euro(x 1) Euro(x 1)
---30-09-2004--- ------30-09-2005---
Intangible assets 0 0
Tangible assets 11.998 208.007
Financial assets 28.012 203.000
Miscellaneous
fixed assets 0 0
Total fixed assets 40.010 411.007
Stock 3.477.996 3.912.008
Receivables 11.020.999 10.135.002
Shares 0 0
Liquid
assets 350.001 374.989
Miscellaneous
current assets 0 0
Total current assets 14.848.996 14.421.999
Shareholders equity 1.609.003 1.732.999
Provisions 0 0
Long-term
liabilities 0 258.008
Current
liabilities 13.280.004 12.842.000
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 14.889.006 14.833.007
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Ferromex
NV ***
PROFIT & LOSS ACCOUNT ***
Corporate
in Euro(x 1) Euro(x 1)
---30-09-2004--- ------30-09-2005---
Turnover 96.736.011 175.854.006
Other
income 238.994 108.999
Total
expenses 95.325.001 173.909.999
Operating
profit 1.650.004 2.053.005
Balance
financial P/L -211.999 -346.010
Net
profit/loss 1] 1.438.006 1.706.995
Taxation 503.001 582.996
Share in
P/L of subsidiaries 0 0
Net
profit/loss 2] 935.005 1.123.999
Balance
extraordinary P/L 6.991 0
Taxation 0 0
Extraordinary
P/L 2] 6.991 0
Res.
sub. companies 2] 0 0
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 941.995 1.123.999
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Legend : 1] = Before tax
2] = After
tax
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Ferromex
NV *** FINANCIAL RATIOS ***
-----2004----- -----2005-----
EQUITY %
Equity
gearing 10,8 11,7
Equity/outside
capital 12,1 13,2
LIQUIDITY
Current
ratio 1,1 1,1
Acid
test 0,9 0,8
RATES OF
RETURN %
Total
assets 9,7 11,5
Shareholders equity 89,4 98,5
Pre tax
margin % 1,5 1
Turnover
rate 649,7 185,6
(x 1) (x 1)
------------------- --------------------
Working
capital 1.568.992 1.579.999
Shareholders equity + Equalization acc. 1.609.003 1.732.999
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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