MIRA
INFORM REPORT
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Report Date : |
18.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ADEAL SA |
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Registered Office : |
Rue Chevalier de Clieu No. 12, Zone 4, P. O. Box 01 BP 1056, |
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Country : |
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Date of Incorporation : |
1962 |
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Com. Reg. No.: |
CI-ABJ-1932-B-190 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturers and retailers of confectionery such as ice cream,
cakes, pastries and chocolates as well as professional cooking equipment for
hotels and restaurants. |
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 : |
CFA Fr 35,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
ADEAL SA
ADDRESS
Street : Rue Chevalier de Clieu No. 12
Area : Zone 4
P.O. Box :
01 BP 1056
Town :
Country :
Telephone :
(225) 2135 5340 / 2135 4218
Fax : (225) 2135 3003
E-Mail : adeal@africaonline.co.ci
Also Known As
Abidjanaise de
Distribution et d'Alimentation
SENIOR COMPANY
PERSONNEL
Name Position
1. Jean Luc
Mathonnet President
2. Claude Serdan Managing
Director
3. Patrick Bellet Financial
Director
4. Jean Baptist
Dorba Chief Accountant
5. Stephen Doumbia Imports
Manager
Total Employees
225
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is an old
established family owned business with operations dating back to 1962.
We consider it is
acceptable to deal with subject for SMALL amounts, although it is normal accepted
practice for international suppliers to deal on secured terms with
Opinion on maximum credit
: CFA Fr 35,000,000
Trade risk assessment :
PRINCIPAL BANKERS
NAME :
BANQUE INTERNATIONALE POUR LE COMMERCE ET L'INDUSTRIE DE LA
Branch :
Avenue Franchet d'Esperey
PO Box :
01 BP 1298
Town :
Abdijan 01
Telephone : (225) 2020 1600
Fax :
(225) 2020 1700
Subject also has an
account with:
Bank Of
Residence Nabil, Ave de
General de Gaulle
Telephone : (225) 2033 1536
Fax :
(225) 2033 2398
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr 2,000,000,000 - 2001 - approx
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CFA Fr 1,800,000,000 - 2002 - exact*
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CFA Fr 1,300,000,000 - 2003 - exact*
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CFA Fr 1,300,000,000 - 2004 - exact*
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CFA Fr 1,538,000,000 - 2005 - exact
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CFA Fr 1,639,000,000 - 2006 - exact
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CFA Fr 1,700,000,000 - 2007 - projected
Loss :
not given but stated to be small 2001 & 2002
Net Profit :
not given but stated to be small 2003 & 2004
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CFA Fr 50,000,000 - 2005 - exact
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CFA Fr 37,000,000 - 2006 - exact
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CFA Fr 50,000,000 - 2007 - projected
Financial year ends 31
December.
* decrease in sales
turnover was due to political unrest in the country.
LEGAL STATUS AND
HISTORY
Date Started : 1962
C.R. No. :
CI-ABJ-1932-B-190
Fiscal ID: 0100190J
Authorised & Paid up
Capital : CFA Fr 150,000,000
Societe Anonyme (Joint Stock
Company) with the following shareholders :
Percentage
1. Jean Luc
Mathonnet 80 %
2. Other members of
Mathonnet family 20 %
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers and
retailers of confectionery such as ice cream, cakes, pastries and chocolates as
well as professional cooking equipment for hotels and restaurants.
Subject also offers
catering services.
Import from
FACILITIES
The Company has the
following facilities :
2,900 square metre rented
administrative offices, retail outlet, production unit and storage facilities
located on a 5,800 square metre plot of land at the heading address.
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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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%)