MIRA
INFORM REPORT
|
Report Date : |
17.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
THOMSON GRASS VALLEY FRANCE SA |
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|
|
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Registered Office : |
1 Rue De L'hautil, 78700 Conflans Ste Honorine Fr |
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Country : |
France |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01
January 1974 |
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Com. Reg. No.: |
74B01110 |
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|
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|
Legal Form : |
Public
Limited Company |
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|
|
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Line of Business : |
Manufacture
of television and radio transmitters and apparatus for line telephony and
line |
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 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
name & address
THOMSON GRASS VALLEY FRANCE SA
1 RUE DE L'HAUTIL
78700 CONFLANS STE HONORINE FR
Tel. Number +33-1-34903100
Fax number +33-1-34903000
|
Business
founded |
01
January 1974 |
|
Business
registered |
31
December 1965 - Public limited company - board of administration |
|
Registration
number, |
74B01110,
VERSAILLES, |
|
party
identification, |
712023571,
|
|
Legal
form |
Public
limited company - board of administration |
|
Activities |
Manufacture
of television and radio transmitters and apparatus for line telephony and
line |
|
Payment
experience |
Nothing
to report |
|
Credit
opinion |
Credit
opinion |
|
|
Maximum
credit limit 150000 EUR is advised |
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|
The
export volume in percentage of total sales for the company. 67,61 |
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Financial
structure (balance sheet analysis) : Sufficient |
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Cash
situation (balance sheet analysis) : Normal |
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Profitability
(balance sheet analysis) : Good |
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|
Commitments
(regarding contractual obligations) : Fulfilled („respectés“) |
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|
Payment
defaults : None |
|
Employees
(Business) |
362 |
|
Total
number of shareholders |
1 |
|
Total
share capital31 December 2006 |
EUR 74000 |
|
Branch
office(s) |
17
RUE DU PETIT ALBI,95800 CERGY |
|
|
AVENUE
ALEXIS DE ROCHON,29280 PLOUZANE |
|
|
40
RUE DE BRAY,35510 CESSON SEVIGNE |
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|
RUE
DU CLOS COURTEL,35510 CESSON SEVIGNE |
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2
RUE DES LANDELLES,35510 CESSON SEVIGNE |
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Others |
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Bank |
BNP
ILLE DE FRANCE NORD PARIS CALYON 92 LA DEFENSE, NATEXIS 78 ST
QUEN |
|
Boardmembers |
MONTLIAUD
PATRICK Chairman of the board |
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|
MIRGOT
DIDIER Boardmember |
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|
LAJARRIGE
PIERRE Boardmember |
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|
DEBON
MARIE-ANGE Boardmember |
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|
RIMBEAU
VINCENT Boardmember |
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|
DALLERY
NICOLAS Boardmember |
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Management |
MONTLIAUD
PATRICK Managing director |
|
Auditor |
DE
CAMBOURG PATRICK Deputy auditor |
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Parent
company : |
333773174 THOMSON 100,00
% |
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|
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The
business owns or partly owns one or more pieces of land and
buildings? Yes(Property) |
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Turnover
for the period: 00 0000 - 31 December 2006 in
EUR 78.666.000,00 |
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|
Not
consolidated profit and loss turnover of the business: |
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|
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Corporate
balance sheet for the year: 00 0000 - 31 December 2006 in
EUR |
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|
Total
assets incl. prepaid expenses and accrued income |
60.792.000,- |
|
Total
fixed assets |
11.751.000,- |
|
Total
intangible fixed assets |
9.320.000,- |
|
Total
tangible fixed assets |
1.928.000,- |
|
Land
and buildings |
643.000,- |
|
Plant,
machinery and equipment |
393.000,- |
|
Total
financial fixed assets |
503.000,- |
|
Total
Current assets |
49.041.000,- |
|
Inventories
and work in progress (incl. prepayments) |
11.203.000,- |
|
Accounts
receivable (trade) |
34.686.000,- |
|
Cash
in hand and at bank |
73.000,- |
|
Total
equity, provisions, liabilities, accrued expenses and deferred income |
60.792.000,- |
|
Total
equity (Shareholders' funds) |
5.971.000,- |
|
Issued
(subscribed) capital |
74.000,- |
|
Legal
reserves |
7.000,- |
|
Profit
or loss carried forward |
-1.000.000,- |
|
Profit
or loss for the previous year |
-6.307.000,- |
|
Profit
or loss for the financial year |
6.890.000,- |
|
Total
provisions |
8.933.000,- |
|
Total
liabilities |
45.887.000,- |
|
Total
long-term liabilities |
8.765.000,- |
|
Long-term
Loans, Mortgage debts |
8.608.000,- |
|
Long-term
liabilities to credit institutions |
157.000,- |
|
Total
current liabilities |
37.122.000,- |
|
Current
accounts payable (trade) |
23.495.000,- |
|
Borrowing
ratio |
386,68 % |
|
Current
ratio |
132,11 % |
|
Debt
gearing |
73,86 % |
|
Profit
margin. |
10,82 % |
|
Quick
ratio |
101,93 % |
|
Return
on assets |
14,00 % |
|
Return
on equity. |
58,06 % |
|
Solidity
or equity ratio |
19,52 % |
|
|
|
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Corporate
profit and loss account for the year: 00 0000 - 31 December 2006
in EUR |
|
|
Total
operating income/revenue |
99.406.000,- |
|
Main
revenue (sales/turnover) |
78.666.000,- |
|
Total
operating expenses |
90.898.000,- |
|
Cost
of materials (type of expenditure format) |
34.011.000,- |
|
Personnel
costs |
24.108.000,- |
|
Depreciation |
1.929.000,- |
|
Operating
profit or loss |
8.508.000,- |
|
Financial
income |
415.000,- |
|
Financial
expenses |
1.877.000,- |
|
Result
of ordinary operations |
7.046.000,- |
|
Extraordinary
expenses |
156.000,- |
|
Extraordinary
result |
-156.000,- |
|
Pre-tax
and pre-appropriation profit or loss |
7.046.000,- |
|
Net
profit or loss |
6.890.000,- |
|
|
|
|
Turnover
for the period: 00 0000 - 31 December 2005 in
EUR 75.648.000,00 |
|
|
Not
consolidated profit and loss turnover of the business: |
|
|
|
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|
Corporate
balance sheet for the year: 00 0000 - 31 December 2005 in
EUR |
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Total
assets incl. prepaid expenses and accrued income |
50.264.000,- |
|
Total
fixed assets |
3.135.000,- |
|
Total
intangible fixed assets |
772.000,- |
|
Total
tangible fixed assets |
2.074.000,- |
|
Land
and buildings |
759.000,- |
|
Plant,
machinery and equipment |
511.000,- |
|
Total
financial fixed assets |
290.000,- |
|
Loans,
shares and participations |
196.000,- |
|
Total
Current assets |
47.129.000,- |
|
Inventories
and work in progress (incl. prepayments) |
13.798.000,- |
|
Accounts
receivable (trade) |
26.772.000,- |
|
Cash
in hand and at bank |
1.553.000,- |
|
Total
equity, provisions, liabilities, accrued expenses and deferred income |
50.264.000,- |
|
Total
equity (Shareholders' funds) |
-23.985.000,- |
|
Issued
(subscribed) capital |
74.000,- |
|
Legal
reserves |
7.000,- |
|
Profit
or loss carried forward |
-16.861.000,- |
|
Profit
or loss for the financial year |
-6.307.000,- |
|
Total
provisions |
10.761.000,- |
|
Total
liabilities |
63.488.000,- |
|
Total
long-term liabilities |
38.927.000,- |
|
Long-term
Loans, Mortgage debts |
38.760.000,- |
|
Long-term
liabilities to credit institutions |
167.000,- |
|
Total
current liabilities |
24.561.000,- |
|
Current
accounts payable (trade) |
13.857.000,- |
|
Borrowing
ratio |
-359,61 % |
|
Current
ratio |
191,89 % |
|
Debt
gearing |
-220,49 % |
|
Profit
margin. |
-1,45 % |
|
Quick
ratio |
135,71 % |
|
Return
on assets |
-2,18 % |
|
Return
on equity. |
37,36 % |
|
Solidity
or equity ratio |
-33,59 % |
|
|
|
|
Corporate
profit and loss account for the year: 00 0000 - 31 December 2005
in EUR |
|
|
Total
operating income/revenue |
92.372.000,- |
|
Main
revenue (sales/turnover) |
75.648.000,- |
|
Total
operating expenses |
93.467.000,- |
|
Cost
of materials (type of expenditure format) |
29.117.000,- |
|
Personnel
costs |
23.802.000,- |
|
Depreciation |
1.623.000,- |
|
Operating
profit or loss |
-1.095.000,- |
|
Financial
income |
562.000,- |
|
Financial
expenses |
1.464.000,- |
|
Result
of ordinary operations |
-1.997.000,- |
|
Extraordinary
income |
2.415.000,- |
|
Extraordinary
expenses |
6.706.000,- |
|
Extraordinary
result |
-4.291.000,- |
|
Pre-tax
and pre-appropriation profit or loss |
-1.997.000,- |
|
Taxes |
19.000,- |
|
Net
profit or loss |
-6.307.000,- |
|
|
|
|
Turnover
for the period: 00 0000 - 31 December 2004 in
EUR 62.350.000,00 |
|
|
Not
consolidated profit and loss turnover of the business: |
|
|
|
|
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Corporate
balance sheet for the year: 00 0000 - 31 December 2004 in
EUR |
|
|
Total
assets incl. prepaid expenses and accrued income |
52.175.000,- |
|
Total
fixed assets |
3.377.000,- |
|
Total
intangible fixed assets |
1.287.000,- |
|
Total
tangible fixed assets |
1.847.000,- |
|
Land
and buildings |
331.000,- |
|
Plant,
machinery and equipment |
643.000,- |
|
Total
financial fixed assets |
230.000,- |
|
Loans,
shares and participations |
172.000,- |
|
Total
Current assets |
48.798.000,- |
|
Inventories
and work in progress (incl. prepayments) |
18.170.000,- |
|
Accounts
receivable (trade) |
26.173.000,- |
|
Cash
in hand and at bank |
323.000,- |
|
Total
equity, provisions, liabilities, accrued expenses and deferred income |
52.175.000,- |
|
Total
equity (Shareholders' funds) |
-17.677.000,- |
|
Issued
(subscribed) capital |
74.000,- |
|
Legal
reserves |
7.000,- |
|
Profit
or loss carried forward |
-17.759.000,- |
|
Total
provisions |
8.604.000,- |
|
Total
liabilities |
61.248.000,- |
|
Total
long-term liabilities |
31.699.000,- |
|
Long-term
liabilities to credit institutions |
31.699.000,- |
|
Total
current liabilities |
29.549.000,- |
|
Current
accounts payable (trade) |
15.886.000,- |
|
Borrowing
ratio |
-510,47 % |
|
Current
ratio |
165,14 % |
|
Debt
gearing |
-264,19 % |
|
Profit
margin. |
-16,87 % |
|
Quick
ratio |
103,65 % |
|
Return
on assets |
-20,16 % |
|
Return
on equity. |
100,17 % |
|
Solidity
or equity ratio |
-23,00 % |
|
|
|
|
Corporate
profit and loss account for the year: 00 0000 - 31 December 2004
in EUR |
|
|
Total
operating income/revenue |
71.082.000,- |
|
Main
revenue (sales/turnover) |
62.350.000,- |
|
Total
operating expenses |
81.598.000,- |
|
Cost
of materials (type of expenditure format) |
31.841.000,- |
|
Personnel
costs |
22.008.000,- |
|
Depreciation |
1.401.000,- |
|
Operating
profit or loss |
-10.516.000,- |
|
Financial
income |
283.000,- |
|
Financial
expenses |
905.000,- |
|
Result
of ordinary operations |
-11.138.000,- |
|
Extraordinary
income |
644.000,- |
|
Extraordinary
expenses |
1.446.000,- |
|
Extraordinary
result |
-802.000,- |
|
Pre-tax
and pre-appropriation profit or loss |
-11.138.000,- |
|
Taxes |
79.000,- |
|
Net
profit or loss |
-12.019.000,- |
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%)