MIRA
INFORM REPORT
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Report Date : |
19.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Ak Steel B.V. |
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Registered Office : |
Meerpaal 10, 4904 Sk
Oosterhout Nb |
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Country : |
Netherlands |
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Financials (as on) : |
30.11.2006 |
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Date of Incorporation : |
13/09/1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The manufacture of products mainly made out of steel. |
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 : |
Average 15 days beyond terms |
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Litigation : |
Clear |
name & address
Ak Steel B.V.
Meerpaal 10
4904 SK OOSTERHOUT NB
Tel.:+31 (0)162-454752
Fax.:+31 (0)162-431798
Legal status
BV Private Company Ltd. acc. nat. law
Founded
13/09/1996, Ltd. since 01/11/1996
Trade register
20082595
Capital
Nominal EUR 1.700.000,--
issued and paid up EUR 382.100,--
Management
GERARD G.M. . BAERT, born 03/03/1952,
BELGIE
JOHANN L. GERAEDS, born 30/08/1960, WATERVIOLIER 208, 4823 MA BREDA
Activity
The manufacture of products mainly made out of steel.
Trade and transport of these products.
Staff
13 employees
Turnover
Net turnover:
2006 Euro 154.991.190
2005 Euro 143.283.575
2004 Euro 92.518.902
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
Net result:
2006 Euro 1.247.819
2005 Euro 3.361.515
2004 Euro 29.464
The
shareholders equity was as of:
30/11/2006 Euro 4.645.452
30/11/2005 Euro 3.397.633
30/11/2004 Euro 36.101
The working
capital was as of:
30/11/2006 Euro 4.624.770
30/11/2005 Euro 3.341.455
30/11/2004 Euro (56.164)
Parent Company:
AK Steel International Limited (Reg.Nr. 3502584) UK.
Website: www.aksteelbv.com
Banks
ABN-AMRO NV, 60.67.81.595
VAT-nr.
NL805041060B01
Mode of payment
On average 15 days beyond terms.
Credit demand
No objections against entering into a business relationship.
The following
financial data is retrieved from the corporate balance sheet of :
Ak Steel B.V.
Meerpaal 10, 4904
SK OOSTERHOUT NB
Trade register 20082595
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Ak
Steel B.V. *** BALANCE SHEET ***
Corporate
in Euro(x 1) Euro(x 1)
---30-11-2005--- ------30-11-2006---
Intangible
assets 0 0
Tangible
assets 56.178 20.682
Financial
assets 0 0
Miscellaneous
fixed assets 0 0
Total fixed assets 56.178 20.682
Stock 18.190.201 18.523.560
Receivables 15.029.254 20.310.223
Shares 0 0
Liquid
assets 1.221.893 2.016.858
Miscellaneous
current assets 0 0
Total current assets 34.441.348 40.850.641
Shareholders equity 3.397.633 4.645.452
Provisions 0 0
Long-term
liabilities 0 0
Current
liabilities 31.099.893 36.225.871
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 34.497.526 40.871.323
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Ak
Steel B.V. *** PROFIT & LOSS ACCOUNT
***
Corporate
in Euro(x 1) Euro(x 1)
---30-11-2005--- ------30-11-2006---
Turnover 143.283.575 154.991.190
Other
income 0 0
Total
expenses 140.320.065 154.063.782
Operating
profit 2.963.510 927.408
Balance
financial P/L 1.943.814 908.963
Net
profit/loss 1] 4.907.324 1.836.371
Taxation 1.545.809 588.552
Share
in P/L of subsidiaries 0 0
Net
profit/loss 2] 3.361.515 1.247.819
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary
P/L 2] 0 0
Res.
sub. companies 2] 0 0
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 3.361.515 1.247.819
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Legend
: 1] = Before tax
2] = After tax
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Ak
Steel B.V. *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 9,8 11,4
Equity/outside
capital 10,9 12,8
LIQUIDITY
Current
ratio 1,1 1,1
Acid
test 0,5 0,6
RATES
OF RETURN %
Total
assets 14,2 4,5
Shareholders equity 144,4 39,5
Pre
tax margin % 3,4 1,2
Turnover
rate 415,3 379,2
(x 1) (x 1)
-------------------- --------------------
Working
capital 3.341.455 4.624.770
Shareholders equity + Equalization acc. 3.397.633 4.645.452
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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. |
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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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%)