MIRA
INFORM REPORT
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Report Date : |
7th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
METALWIRE B.V. |
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Registered Office : |
Expeditiestraat 11, 5961 PX Horst |
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Country : |
Netherlands |
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Financials (as on): |
31.12.2005 |
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Date of Incorporation : |
25.11.1996 |
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Legal Form : |
BV Private Company Limited |
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Line of Business : |
Trade in thread and thread products as well as domestic and
international agent of thread manufacturers and related industries. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
Company Name & Address
Metalwire B.V.
Expeditiestraat 11
5961 PX HORST
Tel. :+31 (0)77-3985300
Fax. :+31 (0)77-3984865
Legal status
BV Private Company Ltd. acc. nat. law
Founded
25/11/1996 as Ltd.
Trade register
12035725
Capital
Nominal EUR 90.756,--
issued and paid up EUR 18.151,--
Management
Janssen Beheer Horst BV,
Expeditiestraat 11, 5961 PX HORST
Activity
Trade in thread and thread products as well as domestic and international agent of thread manufacturers and related industries.
Staff
13 employees
Real
estate
The business premises at the mentioned address has been rented by the company, as far as we know.
Finances
See balance sheet
Remarks
Subsidiary company of
-Metalwire Holding BV,
Expeditiestraat 11, 5961 PX HORST
Previously located:
-Metalwire BV,
Schoolstraat 35, 5961 EG HORST
Net result:
2005 Euro 636.466
The shareholders equity was as of:
31/12/2005 Euro 1.441.087
31/12/2004 Euro 804.620
31/12/2003 Euro 142.171
The working capital was as of:
31/12/2005 Euro 1.784.749
31/12/2004 Euro 585.957
31/12/2003 Euro (13.749)
Website : www.metalwire.com
Subject matter has its offices on the industrial zone
Hoogveld
Correspondence address:
Postbus 6177
5960 AD HORST
Peter Janssen (and not Jansan) is the manager of the parent company
Banks
ING Bank, Horst, 66.68.71.574
VAT-nr.
NL805291921B01
Mode of payment
On average 5 days beyond terms.
Credit demand
No objections against entering into a business relationship.
The following financial data is retrieved
from the corporate balance sheet of :
Metalwire B.V.
Expeditiestraat 11, 5961 PX HORST
Trade register 12035725
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BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2004--- ------31-12-2005---
Intangible assets 48.800 36.600
Tangible assets 149.002 119.738
Financial assets 20.861 0
Miscellaneous
fixed assets 0 0
Total fixed assets 218.663 156.338
Stock 1.483.946 1.605.833
Receivables 2.302.660 2.254.510
Shares 0 0
Liquid assets 92.450 33.420
Miscellaneous
current assets 0 0
Total current assets 3.879.056 3.893.763
Shareholders equity 804.620 1.441.087
Provisions 0 0
Long-term
liabilities 0 500.000
Current
liabilities 3.293.099 2.109.014
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 4.097.719 4.050.101
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2004--- ------31-12-2005---
Turnover 0 0
Other income 0 0
Total expenses 0 835.002
Operating profit 0 1.057.708
Balance financial
P/L 0 -132.401
Net profit/loss 1] 0 925.306
Taxation 0 288.840
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 0 636.466
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 0 636.466
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2004----- -----2005-----
EQUITY %
Equity gearing 19,6 35,6
Equity/outside
capital 24,4 55,2
LIQUIDITY
Current ratio 1,2 1,8
Acid test 0,7 1,1
RATES OF RETURN %
Total assets 0 22,8
Shareholders equity 0 64,2
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital 585.957 1.784.749
Shareholders equity + Equalization acc. 804.620 1.441.087
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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%)