MIRA INFORM REPORT

 

 

Report Date :

28.11.2007

 

IDENTIFICATION DETAILS

 

Name :

SOCIETE ECHALIE

 

 

Registered Office :

70 Rue Des Roches, 93100 Montreuil Fr

 

 

Country :

France

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

01 January 1961

 

 

Com. Reg. No.:

87B09323

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Processing and preserving of fruit and vegetables.

 

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

 

Maximum Credit Limit :

150000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear


name & address

 

SOCIETE ECHALIE

70 RUE DES ROCHES

93100 MONTREUIL FR

 

 

Business founded

01 January 1961

Registration number,

87B09323, BOBIGNY,

party identification,

612058008,

Legal form

Public limited company (no information regarding quotation)

Activities

Processing and preserving of fruit and vegetables

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The export volume in percentage of total sales for the company.  51,20

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Weak 

 

Profitability (balance sheet analysis) : Good 

 

Commitments (regarding contractual obligations) : Fulfilled („respectés“) 

 

Payment defaults : None 

Employees (Business)

 49

Total number of shareholders

 1

Total share capital31 December 2005

EUR 480000

Branch office(s)

MARCHE DES ARNAVAUX,13014 MARSEILLE 14   

 

   Others

Bank

BNP 93 MONTREUIL SG 93 BOBIGNY CL 93 ST DENIS   

Boardmembers

CARDASSILARIS NICOLAOS   President

Auditor

LOUBIERE THIERRY   Deputy auditor

Parent company :

CARDICO   100,00 %   

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 119.150.009,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

31.825.623,-

Total fixed assets

1.725.930,-

Total intangible fixed assets

232.628,-

Concessions and industrial rights, goodwill

198.184,-

Total tangible fixed assets

1.229.474,-

Land and buildings

661.078,-

Plant, machinery and equipment

503.598,-

Total financial fixed assets

263.828,-

Loans, shares and participations

7.700,-

Total Current assets

30.020.340,-

Inventories and work in progress (incl. prepayments)

14.731.844,-

Accounts receivable (trade)

11.453.521,-

Cash in hand and at bank

1.456.789,-

Total accrued income and prepaid expenses

263.037,-

Total equity, provisions, liabilities, accrued expenses and deferred income

31.825.623,-

Total equity (Shareholders' funds)

14.956.030,-

Issued (subscribed) capital

480.000,-

Share premium account (capital reserve)

273.708,-

Statutory reserves

8.931.258,-

Legal reserves

48.000,-

Profit or loss for the previous year

3.228.771,-

Profit or loss for the financial year

4.357.787,-

Total provisions

393.713,-

Total liabilities

16.382.926,-

Total long-term liabilities

7.932.075,-

Long-term Loans, Mortgage debts

289,-

Long-term liabilities to credit institutions

7.931.786,-

Total current liabilities

8.450.851,-

Current accounts payable (trade)

5.212.672,-

Income and social tax liabilities

1.318.921,-

Borrowing ratio

107,67 %

Current ratio

355,23 %

Debt gearing

52,13 %

Profit margin.

6,27 %

Quick ratio

180,91 %

Return on assets

23,48 %

Return on equity.

28,64 %

Solidity or equity ratio

47,81 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

119.545.640,-

Main revenue (sales/turnover)

119.150.009,-

Total operating expenses

112.072.903,-

Cost of materials (type of expenditure format)

109.930.058,-

Personnel costs

2.169.621,-

Depreciation

149.078,-

Operating profit or loss

7.472.737,-

Financial income

217.760,-

Financial expenses

965.446,-

Result of ordinary operations

6.725.051,-

Extraordinary income

104.877,-

Extraordinary expenses

111.706,-

Extraordinary result

-6.829,-

Pre-tax and pre-appropriation profit or loss

6.725.051,-

Taxes

2.360.435,-

Net profit or loss

4.357.787,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 84.605.862,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

21.843.401,-

Total fixed assets

959.880,-

Total intangible fixed assets

234.339,-

Concessions and industrial rights, goodwill

198.184,-

Total tangible fixed assets

470.266,-

Land and buildings

415.697,-

Plant, machinery and equipment

30.012,-

Total financial fixed assets

255.276,-

Loans, shares and participations

3.600,-

Total Current assets

20.703.527,-

Inventories and work in progress (incl. prepayments)

8.448.844,-

Accounts receivable (trade)

9.372.688,-

Cash in hand and at bank

2.499.051,-

Total accrued income and prepaid expenses

351.589,-

Total equity, provisions, liabilities, accrued expenses and deferred income

21.843.401,-

Total equity (Shareholders' funds)

12.732.966,-

Issued (subscribed) capital

480.000,-

Share premium account (capital reserve)

273.708,-

Statutory reserves

8.691.547,-

Legal reserves

48.000,-

Profit or loss for the previous year

1.485.689,-

Profit or loss for the financial year

3.228.771,-

Total provisions

587.100,-

Total liabilities

8.429.035,-

Total long-term liabilities

3.284.179,-

Long-term Loans, Mortgage debts

395,-

Long-term liabilities to credit institutions

3.283.784,-

Total current liabilities

5.144.856,-

Current accounts payable (trade)

2.873.608,-

Income and social tax liabilities

1.772.941,-

Borrowing ratio

64,24 %

Current ratio

402,41 %

Debt gearing

25,03 %

Profit margin.

6,90 %

Quick ratio

238,19 %

Return on assets

26,71 %

Return on equity.

24,61 %

Solidity or equity ratio

60,07 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

84.732.251,-

Main revenue (sales/turnover)

84.605.862,-

Total operating expenses

78.898.269,-

Cost of materials (type of expenditure format)

73.460.010,-

Personnel costs

1.674.262,-

Depreciation

135.972,-

Operating profit or loss

5.833.982,-

Financial income

108.569,-

Financial expenses

841.326,-

Result of ordinary operations

5.101.225,-

Extraordinary income

31.214,-

Extraordinary expenses

32.463,-

Extraordinary result

-1.248,-

Pre-tax and pre-appropriation profit or loss

5.101.225,-

Taxes

1.871.206,-

Net profit or loss

3.228.771,-

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 52.628.510,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

17.232.011,-

Total fixed assets

952.110,-

Total intangible fixed assets

235.192,-

Concessions and industrial rights, goodwill

198.184,-

Total tangible fixed assets

460.169,-

Land and buildings

357.263,-

Plant, machinery and equipment

71.891,-

Total financial fixed assets

256.750,-

Loans, shares and participations

7.600,-

Total Current assets

16.173.261,-

Inventories and work in progress (incl. prepayments)

6.600.914,-

Accounts receivable (trade)

6.036.818,-

Cash in hand and at bank

2.671.811,-

Total accrued income and prepaid expenses

263.764,-

Total equity, provisions, liabilities, accrued expenses and deferred income

17.232.011,-

Total equity (Shareholders' funds)

10.604.195,-

Issued (subscribed) capital

480.000,-

Share premium account (capital reserve)

273.708,-

Statutory reserves

8.305.858,-

Legal reserves

48.000,-

Profit or loss for the financial year

1.485.689,-

Total provisions

436.193,-

Total liabilities

6.155.082,-

Total long-term liabilities

3.305.779,-

Long-term Loans, Mortgage debts

489,-

Long-term liabilities to credit institutions

3.305.290,-

Total current liabilities

2.849.303,-

Current accounts payable (trade)

1.975.320,-

Income and social tax liabilities

533.384,-

Borrowing ratio

56,51 %

Current ratio

567,62 %

Debt gearing

30,35 %

Profit margin.

5,37 %

Quick ratio

335,95 %

Return on assets

16,41 %

Return on equity.

13,64 %

Solidity or equity ratio

63,21 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Total operating income/revenue

52.687.638,-

Main revenue (sales/turnover)

52.628.510,-

Total operating expenses

49.859.245,-

Cost of materials (type of expenditure format)

44.682.735,-

Personnel costs

1.525.464,-

Depreciation

155.668,-

Operating profit or loss

2.828.393,-

Financial income

122.662,-

Financial expenses

520.676,-

Result of ordinary operations

2.430.379,-

Extraordinary income

318.811,-

Extraordinary expenses

485.664,-

Extraordinary result

-166.853,-

Pre-tax and pre-appropriation profit or loss

2.430.379,-

Taxes

777.837,-

Net profit or loss

1.485.689,-

 

 

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.

 

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

 

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

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