MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Sulzer Elbar B.V. |
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Registered Office : |
Spikweien 36, 5943 Ad Lomm |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01/07/1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of and repair of stationery gas- and steam
turbine parts (mainly for the hot section) and related products as well as putting on
coatings on turbine parts. |
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 : |
EUR 500.000 |
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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
Sulzer Elbar B.V.
Spikweien 36
5943 AD LOMM
Tel.:+31 (0)77-4738666
Fax.:+31
(0)77-4732785
Legal status
BV Private Company Ltd. acc. nat. law
Founded
01/07/1973, Ltd. since 08/02/1974
Trade register
12015297
Capital
nominal EUR 1.361.340,--
issued and paid up EUR 444.704,--
Management
KENNETH G. MACKENZIE, born 21/06/1961,
ZWITSERLAND
Signatory
L.J.M. Bartels, born 11/05/1948, Kampstraat
15, 5943 AR LOMM
Activity
Manufacture of and repair of stationery gas- and steam turbine parts (mainly for the hot section) and related
products as well as putting on coatings on turbine parts.
Trade name:
-Sulzer Turbo Machinery Services
Staff
390 employees
from the consolidated balance sheet of
2006
Euro 221.375.000
2005
Euro 153.420.000
2004
Euro 160.963.000
Real estate
The business premises at the mentioned
address has been rented by the company, as far as we know.
See balance sheet
Remarks
Subsidiary company of
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Buitenbulkweg 2, 4005 LA TIEL
The next financial data is extracted from the consolidated
balance sheet of '
Consolidated net result:
2006 Euro 1.768.000
2005 Euro (10.022.000)
2004 Euro (8.332.000)
The shareholders equity was as of:
31/12/2006 Euro 114.313.000
31/12/2005 Euro 18.077.000
31/12/2004 Euro 28.099.000
The working capital was as of:
31/12/2006 Euro 80.728.000
31/12/2005 Euro 52.512.000
31/12/2004 Euro 45.308.000
A declaration of liability has been issued by
Website:www.elbar.nl
E-mail:mail@elbar.com
Correspondence-address:
POSTBUS 4339
5944 ZG ARCEN
The signatoree enjoys limited powers.
Phone number as suggested by you is also fo subject matter.
Banks
VAT-nr.
NL008326770B06
Mode of payment
On average 10 days beyond terms.
Credit demand
No objections against entering into a business relationship.
A maximum credit limit of EUR 500.000
is advised
The following financial data is retrieved
from the consolidated balance sheet of :
Buitenbulkweg, 4005LA TIEL
Trade register 18027280
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Consolidated in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 77.123 152.941
Tangible assets 24.989 43.915
Financial assets 9.990 10.688
Miscellaneous fixed
assets 0 0
Total fixed assets 112.102 207.544
Stock 34.997 50.049
Receivables 45.131 82.870
Shares 0 0
Liquid assets 11.844 17.114
Miscellaneous
current assets 0 0
Total current assets 91.972 150.033
Shareholders equity 18.077 114.313
Provisions 8.998 15.200
Long-term
liabilities 137.539 158.759
Current liabilities 39.460 69.305
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 204.074 357.577
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Consolidated in Euro(x 1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 153.420 221.375
Other income 5.787 5.806
Total expenses 167.059 220.118
Operating profit -8.225 7.063
Balance financial
P/L -3.088 -350
Net profit/loss 1] -11.313 6.713
Taxation -1.291 4.945
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] -10.022 1.768
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 -10.022 1.768
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Legend : 1] = Before tax
2] = After
tax
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-----2005----- -----2006-----
EQUITY %
Equity gearing 8,9 32
Equity/outside
capital 9,7 47
LIQUIDITY
Current ratio 2,3 2,2
Acid test 1,4 1,4
RATES OF RETURN %
Total assets -5,5 1,9
Shareholders equity -62,6 5,9
Pre tax margin % -7,4 3
Turnover rate 75,2 61,9
(x 1.000) (x 1.000)
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Working capital 52.512 80.728
Shareholders equity + Equalization acc. 18.077 114.313
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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/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%)