MIRA
INFORM REPORT
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Report Date : |
10th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
CDS CREATION AND DEVELOPMENT OF SOFTWARE |
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Registered Office : |
10 Rue Du Mail 75002 Paris (Paris) |
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Country : |
France |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
01.04.1994 |
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Com. Reg. No.: |
94B06409 |
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Legal Form : |
Limited
company |
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Line of Business : |
Other activities
of software supply |
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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Maximum Credit Limit : |
6 000 E |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
CDS CREATION AND DEVELOPMENT OF SOFTWARE
Acronym : CDS
Trading
name
CDS
Address (Head office)
10 Rue du Mail 75002
PARIS (PARIS)
Telephone :
01 42 21 92 10
Fax : 01 42 21 92 12
Legal form
5499 -
Limited company
Registration date
01 April
1994
Share capital
50 thousand
Euros
RC Number
94B06409
Activity
722C -
Other activities of software supply
Staff
8
Number of branches
1
Trading category
Direct
owner-operator
Banks
BNP
MAIN DIRECTORS
Manager MARECHAUX Jerome Christian
Marie
born
on 29/06/1966 in PARIS 17 (75)
SHAREHOLDERS & STAKES
Registered shareholder(s) 2
DPP786828
- M MARECHAUX JEROME =>
90,00%
DPP786827
- MME FUNK SUZANNE =>
10,00%
Registered stake(s) None
REVIEW OF BODACC INCIDENTS
20/09/2005 modification
of registered capital
14/07/1996 modification
of registered capital
14/07/1996 modification
of activity
14/07/1996 modification
of the head office address
14/07/1996 modification
of the denomination
FINANCIAL DETAILS
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31/12/2003 |
31/12/2004 |
31/12/2005 |
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over 12 months |
over 12 months |
over 12 months |
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KE |
% |
KE |
% |
KE |
% |
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Turnover |
734 |
3,85 |
854 |
16,47 |
1 019 |
19,21 |
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Export
turnover |
368 |
28,79 |
449 |
21,95 |
685 |
52,39 |
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Earnings
before tax |
78 |
NC |
73 |
-6,89 |
68 |
-6,50 |
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Net
income |
28 |
NC |
29 |
3,48 |
36 |
25,55 |
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Equity |
47 |
76 |
112 |
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Total
debts |
469 |
614 |
501 |
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Working
capital |
-8 |
-11 |
6 |
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Supplier
credit |
216 |
315 |
249 |
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Total
purchase |
416 |
510 |
637 |
RATIOS
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31/12/2003 |
31/12/2004 |
31/12/2005 |
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Turnover
growth (%) |
3,85 |
16,47 |
19,21 |
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Total
assets turnover (Number) |
1,25 |
1,1 |
1,65 |
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Net
income (T.O. %) |
3,76 |
3,34 |
3,52 |
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Cash
flow (T.O. %) |
12,22 |
12,63 |
9,52 |
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Supplier
credit (Purch. days excl. of tax) |
155,97 |
186,28 |
117,82 |
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Accounts
receivables (T.O. days) |
80,15 |
108,21 |
99,07 |
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Interest
expenses / EBIT (%) |
3,81 |
2,86 |
3,73 |
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Wages
(%) |
31,96 |
32,19 |
27,21 |
The 2005 turnover of 1 019 thousand Euros (over a
period of 12 months) denotes an increase of 19,21 % compared to the previous
financial year.
From it can be drawn a net
income of 36 thousand Euros rising by 25,55 % during the period concerned.
The total of the balance
sheet of 617 thousand Euros is composed of up to 33,82 % of the fixed assets
and up to 60,46 % of the circulating assets.
The turnover of 1,65 assets
is rising relative to the financial year.
With financial independence
of 18,09 % the company has global liabilities amounting to 501 thousand Euros,
with financial debts representing 24,73 % of all liabilities.
They generate financial costs
of up to 3,73 % of the EBITDA (Earning Before Interest, Taxes, Depreciation
& Amortisation).
The self-financing capacity
is of 97 thousand Euros, i.e. 9,52 % of the turnover.
LEGAL PROCEEDINGS
None
DEVELOPMENT OF COMMERCIAL RISK
February 2007 Average
risk
August 2006 High
risk
February 2006 High
risk
August 2005 High
risk
OPINION
Last update 21
december 2006
SEREFAC guarantee Yes
Financial structure good
Cash limited
Profitability normal
Commitments respected
Payments regular
Defaults none
Subject history favourable
Credit limit 6 000 E
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/normal. |
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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