MIRA
INFORM REPORT
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Report Date : |
10th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTEEL BELGIUM |
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Registered Office : |
Rue De Chatelet 266,
6030 Marchienne-Au-Pont Belgium |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
06.10.1981 |
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Com. Reg. No.: |
134164, CHARLEROI |
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Legal Form : |
Private
company limited by shares |
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Line of Business : |
Manufacture
of basic iron and steel and of ferro-alloys (ECSC) |
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 : |
248000
EUR |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
INDUSTEEL BELGIUM
RUE DE CHATELET 266
6030 MARCHIENNE-AU-PONT BE
Tel. Number +32-71-441711
Fax number +32-71-441714
Business founded
06 October 1981
Business registered
06 October 1981 - Private company
limited by shares
Business last updated
31 December 2005
Registration number
134164, CHARLEROI
Value Added Tax number
BE422027402
Judicial form
Private company limited by shares
Activities
Manufacture of basic iron and
steel and of ferro-alloys (ECSC)
Payment experience
Payment regular
Credit opinion
High creditworthiness
Maximum credit limit : 248000 EUR is
advised
Cash situation (balance sheet
analysis) : Very
good
Profitability (balance sheet analysis) : Medium
Commitments (regarding contractual obligations) : Fulfilled („respectés“)
Payment defaults : None
Employees (Business)
861
Total share capital
31 December 2005 EUR 11210000,00
Boardmembers
NICK ALEX Deputy
Boardmember
GAILLY XAVIER Boardmember
GEURTS ALAIN Boardmember
GERARD JEAN-PIERRE
Boardmember
CHABOUD MICHEL Boardmember
CENTRE DE RECHERCHE CAROLOREGIEN DE NIVEAU
UNIVERSITAIRE POUR LES META Boardmember
MORGEN POL Boardmember
Management
GERARD JEAN-PIERRE General
manager
GAILLY XAVIER General
manager
TOURNAY LAURENCE Authorised
agent
MALINGRAUX MICHEL Decision-maker
MARLOT MICHEL Decision-maker
NELIS MICHEL Decision-maker
DUFRANE JEAN-JACQUES ARTHUR LEOPOL
Decision-maker
GAILLY XAVIER Decision-maker
GOCZOL PHILIPPE Authorised
agent
GERARD JEAN-PIERRE Decision-maker
ANDRE POL Decision-maker
TRENTESEAUX JACQUES Decision-maker
DUBOIS WALTER Authorised
agent
Subsidiary
company.
USINOR INDUSTEEL NORDIC AB 100,00 %
USINOR INDUSTEEL ITALIA
SRL 100,00
%
INDUSTRIEEL CANADA INC. 100,00 %
435777943 CHARLEROI
DEROULAGE 99,92 %
411895355 INDUSTEEL
BENELUX
99,80 %
431469262 AVAL META CENTER.
AMC. 99,05 %
FERSTAHL 99,00 %
USINOR INDUSTEEL UK 50,00 %
USINOR INDUSTEEL (IBERICA) SA 50,00 %
USINOR INDUSTEEL DEUTSCHLAND GMBH 50,00 %
Associate company
FAFER ORIENT
PTE 33,33 %
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The business owns or partly owns one or
more pieces of land and buildings? Yes(Property) |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2005 in
EUR 588.736.000,00 |
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Not consolidated profit and loss
turnover of the business: |
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PER, period that the financial account
covers for not consolidated balance sheet.: 00 0000 - 31 December 2005 in
EUR |
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Total
assets incl. prepaid expenses and accrued income |
341.510.000,- |
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Total
fixed assets |
62.329.000,- |
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Total
intangible fixed assets |
2.132.000,- |
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Total
tangible fixed assets |
28.379.000,- |
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Land
and buildings |
4.983.000,- |
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Plant,
machinery and equipment |
20.726.000,- |
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Total
financial fixed assets |
31.818.000,- |
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Loans,
shares and participations |
30.619.000,- |
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Investments
(long-term) |
1.199.000,- |
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Total
Current assets |
279.181.000,- |
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Inventories
and work in progress (incl. prepayments) |
147.108.000,- |
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Accounts
receivable (trade) |
68.984.000,- |
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Investments
(short-term) |
18.650.000,- |
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Cash
in hand and at bank |
44.363.000,- |
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Total
accrued income and prepaid expenses |
76.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
341.510.000,- |
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Total
equity (Shareholders' funds) |
110.844.000,- |
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Issued
(subscribed) capital |
11.210.000,- |
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Profit
reserves |
26.372.000,- |
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Statutory
reserves |
300.000,- |
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Legal
reserves |
7.446.000,- |
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Profit
or loss carried forward |
65.516.000,- |
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Total
provisions |
31.083.000,- |
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Total
liabilities |
199.583.000,- |
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Total
long-term liabilities |
258.000,- |
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Long-term
liabilities to credit institutions |
258.000,- |
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Total
current liabilities |
199.325.000,- |
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Current
accounts payable (trade) |
173.628.000,- |
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Income
and social tax liabilities |
12.515.000,- |
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PER, period that the financial account
covers for not consolidated profit and loss account.: 00 0000 - 31 December 2005 in
EUR |
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Total
operating income/revenue |
608.748.000,- |
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Main
revenue (sales/turnover) |
588.736.000,- |
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Total
operating expenses |
-540.963.000,- |
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Cost
of materials (type of expenditure format) |
378.730.000,- |
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Cost
of goods sold (operational format) |
540.963.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
67.785.000,- |
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Personnel
costs |
51.512.000,- |
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Depreciation |
6.277.000,- |
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Operating
profit or loss |
67.785.000,- |
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Financial
income |
4.059.000,- |
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Financial
expenses |
-6.571.000,- |
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Result
of ordinary operations |
65.273.000,- |
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Extraordinary
income |
1.102.000,- |
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Extraordinary
expenses |
-880.000,- |
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Extraordinary
result |
65.495.000,- |
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Appropriations |
11.000,- |
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Taxes |
-8.000,- |
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Net
profit or loss |
65.498.000,- |
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Borrowing
ratio |
177,30 % |
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Current
ratio |
140,06 % |
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Debt
gearing |
0,23 % |
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Profit
margin. |
12,39 % |
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Quick
ratio |
66,22 % |
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Return
on assets |
21,16 % |
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Return
on equity. |
59,09 % |
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Solidity
or equity ratio |
32,45 % |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2004 in
EUR 417.959.000,00 |
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Not consolidated profit and loss
turnover of the business: |
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PER, period that the financial account
covers for not consolidated balance sheet.: 00 0000 - 31 December 2004 in
EUR |
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Total
assets incl. prepaid expenses and accrued income |
281.884.000,- |
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Total
fixed assets |
67.752.000,- |
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Total
intangible fixed assets |
3.019.000,- |
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Total
tangible fixed assets |
31.903.000,- |
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Land
and buildings |
5.188.000,- |
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Plant,
machinery and equipment |
23.397.000,- |
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Total
financial fixed assets |
32.830.000,- |
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Loans,
shares and participations |
30.732.000,- |
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Investments
(long-term) |
2.098.000,- |
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Total
Current assets |
214.132.000,- |
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Inventories
and work in progress (incl. prepayments) |
131.481.000,- |
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Accounts
receivable (trade) |
62.915.000,- |
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Investments
(short-term) |
18.650.000,- |
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Cash
in hand and at bank |
1.086.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
281.884.000,- |
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Total
equity (Shareholders' funds) |
45.346.000,- |
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Issued
(subscribed) capital |
11.210.000,- |
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Profit
reserves |
26.372.000,- |
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Statutory
reserves |
300.000,- |
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Legal
reserves |
7.464.000,- |
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Total
provisions |
32.135.000,- |
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Total liabilities |
204.403.000,- |
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Total
long-term liabilities |
1.060.000,- |
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Long-term
liabilities to credit institutions |
1.060.000,- |
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Total
current liabilities |
203.148.000,- |
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Current
accounts payable (trade) |
156.929.000,- |
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Current
liabilities to credit institutions |
28.241.000,- |
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Income
and social tax liabilities |
8.531.000,- |
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Total
accrued expenses and deferred income |
195.000,- |
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PER, period that the financial account
covers for not consolidated profit and loss account.: 00 0000 - 31 December 2004 in
EUR |
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Total
operating income/revenue |
453.824.000,- |
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Main
revenue (sales/turnover) |
417.959.000,- |
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Total
operating expenses |
-441.996.000,- |
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Cost
of materials (type of expenditure format) |
304.549.000,- |
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Cost
of goods sold (operational format) |
441.996.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
11.828.000,- |
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Personnel
costs |
41.486.000,- |
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Depreciation |
6.381.000,- |
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Operating
profit or loss |
11.828.000,- |
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Financial
income |
5.753.000,- |
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Financial
expenses |
-3.445.000,- |
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Result
of ordinary operations |
14.136.000,- |
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Extraordinary
income |
1.690.000,- |
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Extraordinary
expenses |
-668.000,- |
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Extraordinary
result |
15.158.000,- |
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Appropriations |
15.000,- |
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Taxes |
-26.000,- |
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Net
profit or loss |
15.147.000,- |
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Borrowing
ratio |
442,47 % |
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Current
ratio |
105,30 % |
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Debt
gearing |
2,29 % |
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Profit
margin. |
3,91 % |
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Quick
ratio |
40,68 % |
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Return
on assets |
7,56 % |
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Return
on equity. |
33,40 % |
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Solidity
or equity ratio |
16,08 % |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2003 in
EUR 303.917.000,00 |
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Not consolidated profit and loss
turnover of the business: |
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PER, period that the financial account
covers for not consolidated balance sheet.: 00 0000 - 31 December 2003 in
EUR |
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Total
assets incl. prepaid expenses and accrued income |
237.217.000,- |
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Total
fixed assets |
72.472.000,- |
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Total
intangible fixed assets |
2.934.000,- |
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Total
tangible fixed assets |
34.047.000,- |
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Land
and buildings |
4.314.000,- |
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Plant,
machinery and equipment |
19.678.000,- |
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Total
financial fixed assets |
35.491.000,- |
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Loans,
shares and participations |
33.395.000,- |
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Investments
(long-term) |
2.096.000,- |
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Total
Current assets |
164.745.000,- |
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Inventories
and work in progress (incl. prepayments) |
75.453.000,- |
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Accounts
receivable (trade) |
66.077.000,- |
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Investments
(short-term) |
18.650.000,- |
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Cash
in hand and at bank |
4.565.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
237.217.000,- |
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Total
equity (Shareholders' funds) |
37.784.000,- |
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Issued
(subscribed) capital |
11.210.000,- |
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Profit
reserves |
18.788.000,- |
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Statutory
reserves |
300.000,- |
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Legal
reserves |
7.486.000,- |
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Total
provisions |
35.974.000,- |
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Total
liabilities |
163.459.000,- |
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Total
long-term liabilities |
22.036.000,- |
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Long-term
Loans, Mortgage debts |
19.999.000,- |
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Long-term
liabilities to credit institutions |
2.037.000,- |
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Total
current liabilities |
140.619.000,- |
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Current
accounts payable (trade) |
128.798.000,- |
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Income
and social tax liabilities |
10.355.000,- |
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Total
accrued expenses and deferred income |
804.000,- |
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PER, period that the financial account
covers for not consolidated profit and loss account.: 00 0000 - 31 December 2003 in
EUR |
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Total
operating income/revenue |
310.430.000,- |
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Main
revenue (sales/turnover) |
303.917.000,- |
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Total
operating expenses |
-331.115.000,- |
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Cost
of materials (type of expenditure format) |
193.526.000,- |
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Cost
of goods sold (operational format) |
331.115.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
-20.685.000,- |
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Personnel
costs |
47.643.000,- |
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Depreciation |
5.403.000,- |
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Operating
profit or loss |
-20.685.000,- |
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Financial
income |
7.078.000,- |
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Financial
expenses |
-4.459.000,- |
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Result
of ordinary operations |
-18.066.000,- |
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Extraordinary
income |
6.047.000,- |
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Extraordinary
expenses |
-4.970.000,- |
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Extraordinary
result |
-16.989.000,- |
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Appropriations |
18.000,- |
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Taxes |
-26.000,- |
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Net profit
or loss |
-16.997.000,- |
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Borrowing
ratio |
422,01 % |
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Current
ratio |
116,49 % |
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Debt
gearing |
56,89 % |
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Profit
margin. |
-6,85 % |
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Quick
ratio |
63,49 % |
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Return
on assets |
-4,30 % |
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Return
on equity. |
-44,98 % |
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Solidity
or equity ratio |
15,92 % |
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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