MIRA
INFORM REPORT
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Report Date : |
20.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Larox B.V. |
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Registered Office : |
Elektronweg 24, 3542 AC UTRECHT |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23/12/2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The design, development, manufacture, marketing sales, import, export, training, advising, and renting of products and services for the mining industry. |
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 10 days beyond terms |
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Litigation : |
Clear |
name & address
Larox B.V.
Elektronweg 24
3542 AC UTRECHT
Tel.:+31
(0)30-2482411
Fax.:+31
(0)30-2482402
Legal status
BV Private Company Ltd. acc. nat. law
Founded
23/12/2003 as Ltd.
Trade register
30192384
Capital
nominal EUR 90.000,--
issued and paid up EUR 18.000,--
Management
Reiner Karl Weidner, born 30/11/1965, Im
Kauert 48, 52531 ÜBACH-PALENBERG (DE)
Mark van der Wolf, born 28/04/1969, Frans Halsstraat 64, 2821 VE STOLWIJK
Commissioner
Toivo Matti Karppanen, born 30/06/1956, Saarvankatu 3, 53850 LAPPEENRANTA, FINLAND
Jori Pekka Halkola, born 15/07/1965, Pekurintie 9-13c, 54110 LAMPIKANGAS FINLAND
Juhu-Matti Julku, born 01/10/1957, Kuhilaskatu 1, 53500 LAPPEENRANTA FINLAND
Signatory
R. van der Stelt, born 31/03/1963,
Catharinaplaatjes 26, 3453 SK DE MEERN
Activity
The design, development, manufacture, marketing sales, import, export, training, advising, and renting of products and services for the mining industry.
Staff
78 employees
Turnover
Net
turnover:
2005 Euro 10.242.000
2004 Euro 8.897.000
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 (1.688.000)
2005 Euro (1.959.000)
2004 Euro (1.389.000)
The shareholders equity was as of:
31/12/2006 Euro 1.409.000
31/12/2005 Euro 2.828.000
31/12/2004 Euro 787.000
The working capital was
as of:
31/12/2006 Euro (917.000)
31/12/2005 Euro 2.434.000
31/12/2004 Euro 364.000
Parent company:
Larox Corporation, Lappeenranta-Finland (Reg.Nr. 0162007-6)
Website: www.larox.com
Email: info@larox.com
Correspondence address:
PO Box 8264
3503 RG Utrecht
Banks
ABN-AMRO NV
VAT-nr.
NL812696621B01
Mode of payment
On average 10 days beyond terms.
Credit demand
No objections against entering into a business relationship.
In view of the financial situation, we recommend you to follow the company’s future developments.
The following
financial data is retrieved from the corporate balance sheet of :
Larox B.V.
Elektronweg 24,
3542 AC UTRECHT
Trade register 30192384
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Larox
B.V. *** BALANCE SHEET ***
Corporate
in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible
assets 1.736 1.817
Tangible
assets 1.175 904
Financial
assets 0 1.642
Miscellaneous
fixed assets 0 0
Total fixed assets 2.911 4.363
Stock 2.099 2.371
Receivables 3.863 3.104
Shares 0 0
Liquid
assets 310 87
Miscellaneous
current assets 0 0
Total current assets 6.272 5.562
Shareholders equity 2.828 1.409
Provisions 249 387
Long-term
liabilities 2.268 1.650
Current
liabilities 3.838 6.479
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 9.183 9.925
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Larox
B.V. *** PROFIT & LOSS ACCOUNT
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Corporate
in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 10.242 0
Other
income 888 0
Total
expenses 13.312 0
Operating
profit -2.418 -1.785
Balance
financial P/L -269 -177
Net
profit/loss 1] -2.687 -1.962
Taxation -728 -274
Share
in P/L of subsidiaries 0 0
Net
profit/loss 2] -1.959 -1.688
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 -1.959 -1.688
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Legend
: 1] = Before tax
2] = After tax
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Larox
B.V. *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 30,8 14,2
Equity/outside
capital 44,5 16,5
LIQUIDITY
Current
ratio 1,6 0,9
Acid
test 1,1 0,5
RATES
OF RETURN %
Total
assets -29,3 -19,8
Shareholders equity -95 -139,2
Pre
tax margin % -26,2 0
Turnover
rate 111,5 0
(x 1.000) (x 1.000)
-------------------- --------------------
Working
capital 2.434 -917
Shareholders equity + Equalization acc. 2.828 1.409
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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%)