MIRA
INFORM REPORT
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Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
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Name : |
BUISIN SA |
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Registered Office : |
Route Vaux Fevroux 01150 Vaux En
Bugey (Ain) |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
15 November 1989 |
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Com. Reg. No.: |
96B00092 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Letting of other real estates |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
name
BUISIN SA
Address (Head office)
Route Vaux Fevroux 01150 VAUX EN
BUGEY (AIN)
Telephone
: 04 74 40 30 60
- Fax : 04 74 40 30 67
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summary |
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Legal form |
5599 - Public limited
company - board of directors |
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Registration
date |
15 november 1989 |
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Share
capital |
1 921 thousand
Euros |
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RC
Number |
96B00092 |
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Activity |
702C - Letting of other
real estates |
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Staff |
1 |
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Number
of branches |
1 |
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Trading
category |
Direct owner-operator |
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Banks |
LB LAGNIEU CL LYON
NEUFLIZE CL BFCC |
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MAIN DIRECTORS |
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Chairman
of the Board of Directors |
GINDRE Boris |
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born
on 22/05/1972 in |
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General
manager |
GINDRE Boris |
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born
on 22/05/1972 in |
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Delegated
General Manager |
GINDRE Patrick |
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Administrator |
GINDRE Patrick |
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Administrator |
GINDRE Boris |
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born
on 22/05/1972 in |
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Auditorship |
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Titular
auditor |
L ESCOFFIER |
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Titular
auditor |
CABINET L ESCOFFIER |
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Substitute
auditor |
ESCOFFIER Marc |
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SHAREHOLDERS &
STAKES |
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Registered
shareholder(s) |
4 |
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DPY037927 - MR GINDRE
PATRICK => 41,83% |
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955 508 817 - SA
DES ETABLISSEMENTS GINDRE DUCHAVANY
=> 22,00% |
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DPP812867 - MME GINDRE
MICHELE => 19,00% |
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Registered
stake(s) |
1 |
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312 644 446 -
FINANCIERE GINDRE DUCHAVANY
=> 11,00% |
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REVIEW OF BODACC
INCIDENTS |
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06/04/2006 |
modification of the
representatives |
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23/02/2006 |
Decrease of the
registered capital |
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01/01/2006 |
modification of the
representatives |
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26/01/2005 |
transfer of a business |
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01/01/2005 |
transfer of a business |
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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 |
15 325 |
-9,87 |
19 065 |
24,40 |
2 154 |
-88,70 |
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Export turnover |
8 322 |
-8,07 |
11 062 |
32,92 |
3 |
-99,97 |
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Earnings before tax |
134 |
NC |
611 |
356,59 |
-65 |
NC |
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Net income |
68 |
2,52 |
248 |
266,38 |
67 |
-72,99 |
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Equity |
4 031 |
4 259 |
4 175 |
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Total debts |
3 192 |
2 392 |
319 |
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Working capital |
2 809 |
3 658 |
3 619 |
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Supplier credit |
1 073 |
876 |
125 |
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Total purchase |
11 591 |
14 693 |
216 |
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RATIOS |
31/12/2003 |
31/12/2004 |
31/12/2005 |
MEDIAN |
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Turnover growth (%) |
-9,87 |
24,40 |
-88,70 |
-0,44 |
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Total assets turnover (Number) |
2,12 |
2,87 |
0,48 |
1,5 |
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Net income (T.O. %) |
0,44 |
1,30 |
3,11 |
2,71 |
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Cash flow (T.O. %) |
2,72 |
4,79 |
5,65 |
5,06 |
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Supplier credit (Purch. days excl. of tax) |
27,88 |
17,94 |
174,49 |
69,13 |
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Accounts receivables (T.O. days) |
60,16 |
51,92 |
11,86 |
75,57 |
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Interest expenses / EBIT (%) |
8,83 |
6,18 |
-3,23 |
0,49 |
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Wages (%) |
22,58 |
18,54 |
7,45 |
31,37 |
The
2005 turnover of 2 154 thousand Euros (over a period of 12 months) denotes a
decrease of -88,70 % compared to the previous financial year, inferior to the
average growth in the sector (-0,44 %).
From it can be drawn a net
income of 67 thousand Euros falling by -72,99 % during the period concerned.
The total of the balance
sheet of 4 493 thousand Euros is composed of up to 14,75 % of the fixed assets
and up to 85,23 % of the circulating assets.
The turnover of 0,48 assets
is falling relative to the financial year; this turnover is below the average
of 1,50.
With financial independence
of 92,90 % the company has global liabilities amounting to 319 thousand Euros,
with financial debts representing 2,39 % of all liabilities.
They generate financial costs
of up to -3,23 % of the EBITDA (Earning Before Interest, Taxes, Depreciation
& Amortisation), compared to a sector-based average of 0,49 %.
The self-financing capacity
is of 122 thousand Euros, i.e. 5,65 % of the turnover for an average of 5,06 %.
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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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may 2007 |
NOT APPLICABLE |
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november 2006 |
NOT APPLICABLE |
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may 2006 |
NOT APPLICABLE |
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november 2005 |
NOT APPLICABLE |
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OPINION |
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SEREFAC guarantee |
No |
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Credit limit |
Purposeless |
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Business operations leased to manager - No commercial activity |
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%)