MIRA
INFORM REPORT
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Report Date : |
8th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MALLINCKRODT MEDICAL B.V. |
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Registered Office : |
Westerduinweg 3, 1755 Le Petten |
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Country : |
Netherlands |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
09.04.1959 |
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Legal Form : |
BV Private Company Limited acc. nat. law |
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Line of Business : |
Production and Wholesale in radio chemicals and pharmaceutical
products. |
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 : |
Regular |
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Litigation : |
Clear |
Company Name
Mallinckrodt Medical B.V.
Westerduinweg 3
1755 LE PETTEN
Tel. :+31 (0)224-567890
Fax. :+31 (0)224-563492
Legal status
BV Private Company Ltd. acc. nat. law
Founded
09/04/1959 as Ltd.
Trade register
37042281
Capital
Nominal EUR 9.075.831,--
Issued and paid up EUR 2.269.124,--
Management
Harm Buurlage, born 25/10/1961,
Rijdersstraat 134, T VELD
David Roy West, born 11/08/1958, One Little Cubs
Vicarage Lane ., YATELE GLL467 TB HAMPSHIRE (GB)
Activity
The production and wholesale in radio
chemicals and pharmaceutical products.
Staff
249 employees
Turnover
Net turnover:
2006
Euro 85.645.000
2005
Euro 95.025.000
2004
Euro 74.992.000
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
-Mallinckrodt
Holdings BV,
Hogeweg 105, 5301
LL ZALTBOMMEL
Net result:
2006 Euro 13.964.000
2005 Euro 20.342.000
2004 Euro 8.288.000
The shareholders equity was as
of:
30/09/2006 Euro 63.887.000
30/09/2005 Euro 49.585.000
30/09/2004 Euro 29.260.000
The working capital was as of:
30/09/2006 Euro 51.859.000
30/09/2005 Euro 39.484.000
30/09/2004 Euro 21.150.000
Website: www.mallinckrodt.com / www.tycohealthcare.com
Correspondence address:
PO box 3
1755 ZG PETTEN
The financial years ends on 30 Sept.
Banks
ABN-AMRO NV, 51.58.62.010
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 :
Mallinckrodt Medical B.V.
Westerduinweg 3, 1755 LE PETTEN
Trade register 37042281
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BALANCE
SHEET
Corporate in Euro(x
1.000) Euro(x 1.000)
---30-09-2005--- ------30-09-2006---
Intangible assets 0 0
Tangible assets 49.663 47.298
Financial assets 0 541
Miscellaneous fixed assets 0 0
Total fixed
assets 49.663 47.839
Stock 4.065 4.429
Receivables 4.432 15.777
Shares 0 0
Liquid assets 60.342 54.413
Miscellaneous current assets 0 2.064
Total current
assets 68.839 76.683
Shareholders
equity 49.585 63.887
Provisions 30.854 27.787
Long-term liabilities 8.708 0
Current liabilities 29.355 24.824
Minority interests 0 0
Miscellaneous liabilities 0 8.024
Total liabilities 118.502 124.522
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1.000) Euro(x 1.000)
---30-09-2005--- ------30-09-2006---
Turnover 95.025 85.645
Other income 3.810 4.110
Total expenses 68.405 68.896
Operating profit 30.431 20.859
Balance financial
P/L -315 -889
Net profit/loss 1] 30.116 19.970
Taxation 9.774 6.006
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 20.342 13.964
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 20.342 13.964
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 41,8 51,3
Equity/outside
capital 71,9 105,4
LIQUIDITY
Current ratio 2,3 3,1
Acid test 2,2 2,9
RATES OF RETURN %
Total assets 25,4 16
Shareholders equity 60,7 31,3
Pre tax
margin % 31,7 23,3
Turnover rate 80,2 68,8
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 39.484 51.859
Shareholders equity + Equalization acc. 49.585 63.887
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%)