MIRA INFORM REPORT

 

 

Report Date :

15.05.2007

 

IDENTIFICATION DETAILS

 

Name :

COMPAGNIE THERMIQUE DU GOL

 

 

Registered Office :

1 Route Nationale, 97450 St Louis Fr

 

 

Country :

France

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

30 October 1991

 

 

Com. Reg. No.:

91B00221

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Production and distribution of electricity

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

150000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

COMPAGNIE THERMIQUE DU GOL

1 ROUTE NATIONALE

97450 ST LOUIS FR

Tel. Number  +33-2-62912900

Fax number  +33-2-62912929

 

 

Business founded

30 October 1991

Business registered

03 December 1991 - Public limited company - board of administration

Business last updated

01 March 2007

Registration number,

91B00221, ST-PIERRE DE LA REUNION,

Alternative tradename(s),

CTG,

party identification,

383599214,

Legal form

Public limited company - board of administration

Activities

Production and distribution of electricity

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The export volume in percentage of total sales for the company.  0,00

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Outstanding 

 

Commitments (regarding contractual obligations) : Fulfilled („respectés“) 

 

Payment defaults : None 

Employees (Business)

 46

Total number of shareholders

 1

Total share capital07 August 2006

EUR 13354533

Branch office(s)

LE GOL,97450 ST LOUIS   

 

   Others

Bank

BNPI 75 PARIS   

Boardmembers

LENCOU BAREME XAVIER   Chairman of the board

 

ROBERT BERNARD   Boardmember

 

LENCOU BAREME XAVIER   Boardmember

 

BLANCHARD CHRISTIAN   Boardmember

 

STE EDEV EDF DEVELOPPEMENT ENVIRONNEMENT SA , REPRESENTED BY RENOULT C   Boardmember

Auditor

QUINT VALERIE   Deputy auditor

Parent company :

775667538   SOC INDUS DEVELOPP ENERG COGENERATION   64,60 %   

 

 

 

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  No (Property) 

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 44.003.183,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

145.648.404,-

Total fixed assets

24.931.402,-

Total tangible fixed assets

961.421,-

Total financial fixed assets

23.969.980,-

Loans, shares and participations

152.357,-

Total Current assets

120.716.998,-

Inventories and work in progress (incl. prepayments)

64.942.149,-

Accounts receivable (trade)

3.219.441,-

Investments (short-term)

35.508,-

Cash in hand and at bank

19.213,-

Total accrued income and prepaid expenses

4.453.257,-

Total equity, provisions, liabilities, accrued expenses and deferred income

145.648.404,-

Total equity (Shareholders' funds)

37.496.882,-

Issued (subscribed) capital

10.153.104,-

Legal reserves

1.089.978,-

Profit or loss carried forward

19.289.934,-

Profit or loss for the previous year

6.237.561,-

Profit or loss for the financial year

6.963.866,-

Total provisions

124.121,-

Total liabilities

108.027.396,-

Total long-term liabilities

88.189.466,-

Long-term liabilities to credit institutions

88.189.466,-

Total current liabilities

18.218.232,-

Current accounts payable (trade)

3.307.865,-

Income and social tax liabilities

1.857.386,-

Total accrued expenses and deferred income

1.619.698,-

Borrowing ratio

287,47 %

Current ratio

608,52 %

Debt gearing

234,68 %

Profit margin.

17,52 %

Quick ratio

281,15 %

Return on assets

5,29 %

Return on equity.

18,53 %

Solidity or equity ratio

25,80 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

94.734.558,-

Main revenue (sales/turnover)

44.003.183,-

Total operating expenses

87.024.984,-

Cost of materials (type of expenditure format)

10.016.267,-

Personnel costs

28.543,-

Depreciation

88.232,-

Operating profit or loss

7.709.574,-

Financial income

1.006.654,-

Financial expenses

167.453,-

Result of ordinary operations

8.548.774,-

Extraordinary income

352.268,-

Extraordinary result

352.268,-

Pre-tax and pre-appropriation profit or loss

8.548.774,-

Taxes

1.937.177,-

Net profit or loss

6.963.866,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 39.098.202,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

105.060.239,-

Total fixed assets

21.283.927,-

Total tangible fixed assets

992.311,-

Total financial fixed assets

20.291.616,-

Loans, shares and participations

152.357,-

Total Current assets

83.776.306,-

Inventories and work in progress (incl. prepayments)

19.428.055,-

Accounts receivable (trade)

2.684.891,-

Investments (short-term)

80.307,-

Cash in hand and at bank

4.502,-

Total accrued income and prepaid expenses

4.075.570,-

Total equity, provisions, liabilities, accrued expenses and deferred income

105.060.239,-

Total equity (Shareholders' funds)

31.332.216,-

Issued (subscribed) capital

10.153.104,-

Legal reserves

1.089.977,-

Profit or loss carried forward

13.851.572,-

Profit or loss for the previous year

6.445.210,-

Profit or loss for the financial year

6.237.561,-

Total provisions

621.738,-

Total liabilities

73.106.281,-

Total long-term liabilities

58.875.455,-

Long-term liabilities to credit institutions

58.875.455,-

Total current liabilities

12.654.389,-

Current accounts payable (trade)

6.864.615,-

Income and social tax liabilities

141.913,-

Total accrued expenses and deferred income

1.576.437,-

Borrowing ratio

230,31 %

Current ratio

588,70 %

Debt gearing

185,48 %

Profit margin.

17,10 %

Quick ratio

452,18 %

Return on assets

6,36 %

Return on equity.

19,65 %

Solidity or equity ratio

30,21 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

52.130.840,-

Main revenue (sales/turnover)

39.098.202,-

Total operating expenses

45.443.779,-

Cost of materials (type of expenditure format)

10.794.489,-

Personnel costs

28.523,-

Depreciation

51.970,-

Operating profit or loss

6.687.061,-

Financial income

171.039,-

Financial expenses

206.296,-

Result of ordinary operations

6.651.805,-

Extraordinary income

5.141,-

Extraordinary expenses

1.185,-

Extraordinary result

3.955,-

Pre-tax and pre-appropriation profit or loss

6.651.804,-

Taxes

418.198,-

Net profit or loss

6.237.561,-

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 35.168.815,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

38.170.384,-

Total fixed assets

21.003.585,-

Total tangible fixed assets

712.672,-

Total financial fixed assets

20.290.912,-

Loans, shares and participations

152.357,-

Total Current assets

17.166.794,-

Inventories and work in progress (incl. prepayments)

4.707.950,-

Accounts receivable (trade)

3.599.152,-

Cash in hand and at bank

111.105,-

Total accrued income and prepaid expenses

3.956.910,-

Total equity, provisions, liabilities, accrued expenses and deferred income

38.170.384,-

Total equity (Shareholders' funds)

25.987.094,-

Issued (subscribed) capital

10.153.104,-

Legal reserves

1.089.977,-

Profit or loss carried forward

8.298.801,-

Profit or loss for the financial year

6.445.210,-

Total provisions

1.142.787,-

Total liabilities

11.040.498,-

Total long-term liabilities

4.361.281,-

Long-term liabilities to credit institutions

4.361.281,-

Total current liabilities

6.434.837,-

Current accounts payable (trade)

5.990.075,-

Income and social tax liabilities

351.834,-

Total accrued expenses and deferred income

244.380,-

Borrowing ratio

41,29 %

Current ratio

257,02 %

Debt gearing

16,31 %

Profit margin.

20,13 %

Quick ratio

186,53 %

Return on assets

18,55 %

Return on equity.

24,10 %

Solidity or equity ratio

70,06 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Total operating income/revenue

35.367.578,-

Main revenue (sales/turnover)

35.168.815,-

Total operating expenses

28.288.481,-

Cost of materials (type of expenditure format)

6.616.106,-

Depreciation

39.186,-

Operating profit or loss

7.079.097,-

Financial income

100.796,-

Financial expenses

274.199,-

Result of ordinary operations

6.905.695,-

Extraordinary income

142.587,-

Extraordinary expenses

141.656,-

Extraordinary result

931,-

Pre-tax and pre-appropriation profit or loss

6.905.694,-

Taxes

461.415,-

Net profit or loss

6.445.210,-

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions