MIRA
INFORM REPORT
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Report Date : |
13.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARC INTERNATIONAL |
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Registered Office : |
41 Avenue du General de Gaulle 62510
Arques (Pas-De-Calais) |
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Country : |
France
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
01
January 1956 |
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Legal Form : |
Public
Limited Company |
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Line of Business : |
Manufacture
of hollow glass |
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 : |
150 000 E |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
ARC INTERNATIONAL
Trading name
J G DURAND ET COMPAGNIE
Address (Head office)
41 Avenue du General de Gaulle 62510
ARQUES (PAS-DE-CALAIS)
Telephone
: 03 21 95 46 47 - Fax : 03 21 38 06 23
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summary |
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Legal form |
5699 - Public limited company - board of directors |
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Registration
date |
01 January 1956 |
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Share
capital |
17 000 thousand Euros |
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RC
Number |
56B00035 |
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Activity |
261E - Manufacture of hollow glass |
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Staff |
10 129 |
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Number
of branches |
7 |
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Trading
category |
Direct owner-operator |
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Banks |
CCF 59 ROUBAIX - SG - CDN - SG - BSD 62 ST OMER -
BNP |
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MAIN DIRECTORS |
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Board
of directors chairman |
DURAND Philippe |
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Supervisory
board chairman |
DURAND Odette née PERCEPIED |
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born on 21/03/1918 in PARIS 08 (75) |
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Board
of direct. vice-chairman |
GOURNAY Patrick |
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born on 14/08/1947 in BOULOGNE SUR
MER (62) |
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Supervisory
board vice-chairm. |
JG DURAND INDUSTRIES |
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represented by IBLED Annick née
DURAND |
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Board
of directors member |
DURAND Philippe |
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Auditorship |
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Titular
auditor |
DELEBARRE Eric |
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Substitute
auditor |
FIDUCIAIRE DU NORD D'EXPERTISE COMPTABLE |
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SHAREHOLDERS &
STAKES |
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Registered shareholder(s) |
1 |
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399 235 233 - JG DURAND
INDUSTRIES => 82,70% |
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Registered stake(s) |
15 |
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399 311 315 - ARC INTERNATIONAL
COOKWARE => 100,00% |
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480 631 167 - SALVIATI RETAIL =>
100,00% |
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400 856 977 - SALVIATI FRANCE =>
100,00% |
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REVIEW OF BODACC
INCIDENTS |
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02/05/2006 |
modification of the representatives |
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28/07/2005 |
modification of the representatives |
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27/05/2005 |
modification of the representatives |
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02/03/2005 |
modification of the representatives |
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14/01/2005 |
modification of the representatives |
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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 |
748 209 |
-13,52 |
748 456 |
0,03 |
722 393 |
-3,48 |
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Export turnover |
602 496 |
-13,36 |
593 486 |
-1,50 |
572 568 |
-3,52 |
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Earnings before tax |
-39 635 |
NC |
-44 968 |
NC |
-38 325 |
NC |
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Net income |
-23 584 |
NC |
-110 283 |
NC |
-30 753 |
NC |
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Equity |
652 615 |
535 494 |
596 683 |
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Total debts |
251 762 |
270 355 |
326 270 |
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Working capital |
176 310 |
184 398 |
199 809 |
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Supplier credit |
94 783 |
92 134 |
82 427 |
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Total purchase |
365 029 |
389 281 |
332 978 |
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RATIOS |
31/12/2003 |
31/12/2004 |
31/12/2005 |
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Turnover growth (%) |
-13,52 |
0,03 |
-3,48 |
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Total assets turnover (Number) |
0,78 |
0,79 |
0,7 |
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Net income (T.O. %) |
-3,15 |
-14,73 |
-4,26 |
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Cash flow (T.O. %) |
2,75 |
4,85 |
3,02 |
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Supplier credit (Purch. days excl. of tax) |
78,16 |
71,24 |
74,51 |
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Accounts receivables (T.O. days) |
39,67 |
37,23 |
39,43 |
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Interest expenses / EBIT (%) |
-17,56 |
-6,84 |
-12,68 |
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Wages (%) |
49,59 |
50,31 |
50,50 |
The
2005 turnover of 722 393 thousand Euros (over a period of 12 months) denotes a
decrease of -3,48 % compared to the previous financial year.
From it can be drawn a net
income of -30 753 thousand Euros.
The total of the balance
sheet of 1 036 266 thousand Euros is composed of up to 60,32 % of the fixed
assets and up to 39,52 % of the circulating assets.
The turnover of 0,70 assets
is falling relative to the financial year.
With financial independence
of 57,58 % the company has global liabilities amounting to 326 270 thousand
Euros, with financial debts representing 12,00 % of all liabilities.
They generate financial costs
of up to -12,68 % of the EBITDA (Earning Before Interest, Taxes, Depreciation
& Amortisation).
The self-financing capacity
is of 21 800 thousand Euros, i.e. 3,02 % of the turnover.
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Auditor's opinion |
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approved without reservations or observations for the financial year
ending 31/12/2005 |
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LEGAL PROCEEDINGS |
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None |
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GENERAL PRIORITY
CLAIMS |
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Social
security |
No inscription |
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Tax
arrears |
No inscription |
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DEVELOPMENT OF
COMMERCIAL RISK |
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january 2007 |
Average risk |
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july 2006 |
Average risk |
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january 2006 |
Average risk |
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july 2005 |
Average risk |
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OPINION |
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Financial structure
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insufficient |
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Cash
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Standard |
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Profitability
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nil |
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Commitments
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fulfilled |
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Payments
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nothing to report |
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Defaults
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none |
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Subject history
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normal |
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Credit limit
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150 000 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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