MIRA INFORM REPORT

 

 

Report Date :

15.12.2007

 

IDENTIFICATION DETAILS

 

Name :

VALETTE ET GAURAND

 

 

Registered Office :

Rue Albert Camus 42350 La Talaudiere 

 

 

Country :

France

 

 

Date of Incorporation :

01.01.1957

 

 

Com. Reg. No.:

57B00668

 

 

Legal Form :

Public limited company

 

 

Line of Business :

Manufacture of bearings, gears, gearing and driving elements

 

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 :

Regular

 

 

Litigation :

Clear

name and address of the company

 

 

VALETTE ET GAURAND

 

RUE ALBERT CAMUS

 

42350 LA TALAUDIERE FR

Tel. Number

+33-4-77476877

Fax number

+33-4-77333076

 

 

 

 

Business founded

01 January 1957

Registration number,

57B00668, SAINT-ETIENNE,

party identification,

574506689,

Legal form

Public limited company (no information regarding quotation)

Activities

Manufacture of bearings, gears, gearing and driving elements

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The exportvolume in percentage of total sales for the company.  0,36

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Outstanding 

 

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

 

Payment defaults : None 

Employees (Business)

 49

Total number of shareholders

 1

Total share capital31 December 2006

EUR 700000

Bank

SG BP CCF   

Boardmembers

VERGEAU CHANTAL   President

Auditor

GERARD PIERRE   Deputy auditor

Parent company :

348727215   VFG ENTREPRISES   65,00 %   

 

 

 

 

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 11.039.360,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

6.597.838,-

Total fixed assets

1.030.160,-

Total intangible fixed assets

38.144,-

Concessions and industrial rights, goodwill

22.900,-

Total tangible fixed assets

989.840,-

Land and buildings

392,-

Plant, machinery and equipment

806.468,-

Total financial fixed assets

2.173,-

Loans, shares and participations

570,-

Total Current assets

5.567.678,-

Inventories and work in progress (incl. prepayments)

1.410.828,-

Accounts receivable (trade)

1.917.890,-

Cash in hand and at bank

1.348.967,-

Total accrued income and prepaid expenses

5.516,-

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

6.597.838,-

Total equity (Shareholders' funds)

5.227.856,-

Issued (subscribed) capital

700.000,-

Statutory reserves

3.391.350,-

Legal reserves

70.000,-

Profit or loss for the previous year

1.489.807,-

Profit or loss for the financial year

961.187,-

Total provisions

65.000,-

Total liabilities

1.304.982,-

Total current liabilities

1.304.981,-

Current accounts payable (trade)

758.330,-

Income and social tax liabilities

462.436,-

Borrowing ratio

24,76 %

Current ratio

426,65 %

Profit margin.

11,04 %

Quick ratio

318,54 %

Return on assets

18,47 %

Return on equity.

18,24 %

Solidity or equity ratio

79,89 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Total operating income/revenue

11.028.907,-

Main revenue (sales/turnover)

11.039.360,-

Total operating expenses

9.810.032,-

Personnel costs

1.231.375,-

Depreciation

450.762,-

Operating profit or loss

1.218.874,-

Financial income

203.061,-

Financial expenses

3.180,-

Result of ordinary operations

1.418.755,-

Extraordinary income

538.911,-

Extraordinary expenses

443.397,-

Extraordinary result

95.514,-

Pre-tax and pre-appropriation profit or loss

1.418.755,-

Taxes

425.852,-

Net profit or loss

961.187,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 11.730.142,00

 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

7.198.086,-

Total fixed assets

1.544.827,-

Total intangible fixed assets

52.356,-

Concessions and industrial rights, goodwill

37.112,-

Total tangible fixed assets

1.490.295,-

Land and buildings

392,-

Plant, machinery and equipment

1.247.695,-

Total financial fixed assets

2.173,-

Loans, shares and participations

570,-

Total Current assets

5.653.258,-

Inventories and work in progress (incl. prepayments)

1.475.816,-

Accounts receivable (trade)

1.940.892,-

Cash in hand and at bank

1.892.713,-

Total accrued income and prepaid expenses

10.682,-

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

7.198.086,-

Total equity (Shareholders' funds)

5.832.341,-

Issued (subscribed) capital

700.000,-

Statutory reserves

3.399.143,-

Legal reserves

70.000,-

Profit or loss for the previous year

1.933.827,-

Profit or loss for the financial year

1.489.807,-

Total provisions

124.670,-

Total liabilities

1.241.075,-

Total long-term liabilities

1.912,-

Long-term Loans, Mortgage debts

1.912,-

Total current liabilities

1.239.162,-

Current accounts payable (trade)

753.254,-

Income and social tax liabilities

472.165,-

Borrowing ratio

20,98 %

Current ratio

456,22 %

Debt gearing

0,03 %

Profit margin.

18,75 %

Quick ratio

337,12 %

Return on assets

30,56 %

Return on equity.

25,19 %

Solidity or equity ratio

82,17 %

 

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

Total operating income/revenue

11.733.960,-

Main revenue (sales/turnover)

11.730.142,-

Total operating expenses

9.534.480,-

Personnel costs

1.287.417,-

Depreciation

519.498,-

Operating profit or loss

2.199.479,-

Financial income

257.184,-

Financial expenses

4.915,-

Result of ordinary operations

2.451.747,-

Extraordinary income

110.993,-

Extraordinary expenses

169.952,-

Extraordinary result

-58.959,-

Pre-tax and pre-appropriation profit or loss

2.451.748,-

Taxes

743.959,-

Net profit or loss

1.489.807,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 12.682.671,00

 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

9.636.355,-

Total fixed assets

2.021.363,-

Total intangible fixed assets

37.879,-

Concessions and industrial rights, goodwill

22.635,-

Total tangible fixed assets

1.982.912,-

Land and buildings

392,-

Plant, machinery and equipment

1.642.010,-

Total financial fixed assets

570,-

Loans, shares and participations

570,-

Total Current assets

7.614.992,-

Inventories and work in progress (incl. prepayments)

1.538.709,-

Accounts receivable (trade)

2.163.431,-

Investments (short-term)

2.258.733,-

Cash in hand and at bank

1.506.119,-

Total accrued income and prepaid expenses

38.320,-

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

9.636.355,-

Total equity (Shareholders' funds)

8.260.443,-

Issued (subscribed) capital

700.000,-

Statutory reserves

5.294.679,-

Legal reserves

70.000,-

Profit or loss for the financial year

1.933.827,-

Total provisions

60.000,-

Total liabilities

1.315.911,-

Total long-term liabilities

8.665,-

Long-term Loans, Mortgage debts

8.665,-

Total current liabilities

1.307.245,-

Current accounts payable (trade)

597.362,-

Income and social tax liabilities

687.207,-

Borrowing ratio

15,85 %

Current ratio

582,52 %

Debt gearing

0,10 %

Profit margin.

20,98 %

Quick ratio

464,82 %

Return on assets

27,61 %

Return on equity.

23,30 %

Solidity or equity ratio

86,13 %

 

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

Total operating income/revenue

12.954.803,-

Main revenue (sales/turnover)

12.682.671,-

Total operating expenses

10.293.777,-

Personnel costs

1.349.275,-

Depreciation

626.018,-

Operating profit or loss

2.661.025,-

Financial income

359.446,-

Financial expenses

25.302,-

Result of ordinary operations

2.995.169,-

Extraordinary income

154.831,-

Extraordinary expenses

96.134,-

Extraordinary result

58.696,-

Pre-tax and pre-appropriation profit or loss

2.995.169,-

Taxes

941.234,-

Net profit or loss

1.933.827,-

 

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