MIRA INFORM REPORT

 

 

Report Date :

07.11.2007

 

IDENTIFICATION DETAILS

 

Name :

CRAY VALLEY SA

 

 

Registered Office :

12 Place De L'iris, 92400 Courbevoie Fr

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

09 April 1987

 

 

Com. Reg. No.:

87B01220

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture of plastics in primary forms

 

 

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

 

CRAY VALLEY SA

12 PLACE DE L'IRIS

92400 COURBEVOIE FR

Tel. Number       +33-1-47969850

Fax number       +33-1-49008580

 

 

Business founded

09 April 1987

Business registered

27 April 1987 - Public limited company - board of administration

Registration number,

87B01220, NANTERRE,

party identification,

340869353,

Legal form

Public limited company - board of administration

Activities

Manufacture of plastics in primary forms

Payment experience

Payment regular

Credit opinion

Credit opinion

 

Maximum credit limit 150000 EUR is advised

 

The export volume in percentage of total sales for the company.  62,78

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Feeble 

 

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

 

Payment defaults : None 

Employees (Business)

 699

Total number of shareholders

 1

Total share capital31 December 2006

EUR 70025000

Branch office(s)

RUE TAFFANEL,60550 VERNEUIL EN HALATTE   

 

L'USINE,60870 VILLERS ST PAUL   

 

6 RUE DE L'INDUSTRIE,27930 GRAVIGNY   

 

ROUTE D'ARRAS,62320 DROCOURT   

 

145 AVENUE LOUIS ET AUGUSTE LUMIERE,84700 SORGUES   

 

   Others

Bank

SG AG MICHELET 92 PUTEAUX - BNP AG WILSON 92 PUTEAUX, CL AVIGNON   

Boardmembers

PINATEL BERNARD   Chairman of the board

 

PINATEL BERNARD   Boardmember

Management

PINATEL BERNARD   Managing director

Auditor

ANGLEYS FERNAND   Deputy auditor

 

BOUCHET ALAIN   Deputy auditor

Parent company :

542051180   TOTAL SA   

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 485.206.192,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

290.460.656,-

Total fixed assets

111.198.803,-

Total intangible fixed assets

8.423.860,-

Concessions and industrial rights, goodwill

441.676,-

Total tangible fixed assets

77.512.832,-

Land and buildings

16.484.509,-

Plant, machinery and equipment

45.708.054,-

Total financial fixed assets

25.262.111,-

Loans, shares and participations

24.763.419,-

Total Current assets

179.261.853,-

Inventories and work in progress (incl. prepayments)

52.967.441,-

Accounts receivable (trade)

92.180.218,-

Cash in hand and at bank

485.756,-

Total accrued income and prepaid expenses

137.955,-

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

290.460.656,-

Total equity (Shareholders' funds)

73.646.391,-

Issued (subscribed) capital

70.025.000,-

Share premium account (capital reserve)

491.932,-

Legal reserves

1.645.627,-

Profit or loss carried forward

-4.558.735,-

Profit or loss for the previous year

-514.118,-

Profit or loss for the financial year

5.523.986,-

Total provisions

11.357.965,-

Total liabilities

205.442.580,-

Total long-term liabilities

100.940.974,-

Long-term Loans, Mortgage debts

569.010,-

Long-term liabilities to credit institutions

100.371.964,-

Total current liabilities

104.501.606,-

Current accounts payable (trade)

80.948.601,-

Income and social tax liabilities

12.760.902,-

Borrowing ratio

253,14 %

Current ratio

171,54 %

Debt gearing

124,38 %

Profit margin.

2,63 %

Quick ratio

120,85 %

Return on assets

4,39 %

Return on equity.

6,81 %

Solidity or equity ratio

27,94 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Total operating income/revenue

496.899.169,-

Main revenue (sales/turnover)

485.206.192,-

Total operating expenses

484.138.536,-

Cost of materials (type of expenditure format)

57.863.499,-

Personnel costs

32.128.067,-

Depreciation

14.338.151,-

Operating profit or loss

12.760.633,-

Financial income

1.871.347,-

Financial expenses

5.501.821,-

Result of ordinary operations

9.130.159,-

Extraordinary income

6.072.232,-

Extraordinary expenses

8.872.476,-

Extraordinary result

-2.800.244,-

Pre-tax and pre-appropriation profit or loss

9.130.159,-

Taxes

805.929,-

Net profit or loss

5.523.986,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 424.102.021,00

 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

281.292.942,-

Total fixed assets

107.994.796,-

Total intangible fixed assets

9.619.545,-

Concessions and industrial rights, goodwill

1.108.809,-

Total tangible fixed assets

73.754.985,-

Land and buildings

17.603.642,-

Plant, machinery and equipment

49.169.066,-

Total financial fixed assets

24.620.266,-

Loans, shares and participations

24.124.323,-

Total Current assets

173.298.146,-

Inventories and work in progress (incl. prepayments)

53.593.808,-

Accounts receivable (trade)

95.998.371,-

Cash in hand and at bank

1.986.325,-

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

281.292.942,-

Total equity (Shareholders' funds)

67.934.606,-

Issued (subscribed) capital

70.025.000,-

Share premium account (capital reserve)

491.932,-

Legal reserves

1.645.627,-

Profit or loss carried forward

-4.044.616,-

Profit or loss for the previous year

-5.644.341,-

Profit or loss for the financial year

-514.118,-

Total provisions

14.980.155,-

Total liabilities

198.364.461,-

Total long-term liabilities

102.773.362,-

Long-term Loans, Mortgage debts

102.394.088,-

Long-term liabilities to credit institutions

379.274,-

Total current liabilities

95.591.099,-

Current accounts payable (trade)

72.592.623,-

Income and social tax liabilities

13.822.340,-

Borrowing ratio

-380,27 %

Current ratio

181,29 %

Debt gearing

-197,02 %

Profit margin.

1,91 %

Quick ratio

125,23 %

Return on assets

2,88 %

Return on equity.

-0,66 %

Solidity or equity ratio

27,67 %

 

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

Total operating income/revenue

436.879.628,-

Main revenue (sales/turnover)

424.102.021,-

Total operating expenses

428.782.931,-

Cost of materials (type of expenditure format)

54.352.120,-

Personnel costs

30.266.130,-

Depreciation

14.341.650,-

Operating profit or loss

8.096.697,-

Financial income

1.742.820,-

Financial expenses

4.428.519,-

Result of ordinary operations

5.410.998,-

Extraordinary income

158.288,-

Extraordinary expenses

5.241.237,-

Extraordinary result

-5.082.949,-

Pre-tax and pre-appropriation profit or loss

5.410.998,-

Taxes

842.167,-

Net profit or loss

-514.118,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 365.356.497,00

 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

262.205.047,-

Total fixed assets

86.945.711,-

Total intangible fixed assets

9.735.036,-

Concessions and industrial rights, goodwill

1.509.769,-

Total tangible fixed assets

75.409.952,-

Land and buildings

17.653.566,-

Plant, machinery and equipment

48.961.190,-

Total financial fixed assets

1.800.723,-

Loans, shares and participations

1.301.463,-

Total Current assets

175.259.336,-

Inventories and work in progress (incl. prepayments)

42.247.199,-

Accounts receivable (trade)

92.630.760,-

Cash in hand and at bank

1.099.690,-

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

262.205.047,-

Total equity (Shareholders' funds)

68.560.924,-

Issued (subscribed) capital

70.025.000,-

Share premium account (capital reserve)

491.932,-

Legal reserves

1.645.627,-

Profit or loss carried forward

1.599.725,-

Profit or loss for the financial year

-5.644.341,-

Total provisions

9.983.557,-

Total liabilities

183.646.846,-

Total long-term liabilities

88.836.966,-

Long-term Loans, Mortgage debts

87.839.802,-

Long-term liabilities to credit institutions

997.164,-

Total current liabilities

94.809.880,-

Current accounts payable (trade)

75.801.652,-

Income and social tax liabilities

11.535.901,-

Borrowing ratio

244,33 %

Current ratio

184,85 %

Debt gearing

118,19 %

Profit margin.

0,55 %

Quick ratio

140,29 %

Return on assets

0,77 %

Return on equity.

-7,51 %

Solidity or equity ratio

28,67 %

 

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

Total operating income/revenue

377.603.664,-

Main revenue (sales/turnover)

365.356.497,-

Total operating expenses

375.582.535,-

Cost of materials (type of expenditure format)

47.189.767,-

Personnel costs

28.581.068,-

Depreciation

15.927.719,-

Operating profit or loss

2.021.129,-

Financial income

2.363.212,-

Financial expenses

7.614.973,-

Result of ordinary operations

-3.230.632,-

Extraordinary income

454.578,-

Extraordinary expenses

2.565.479,-

Extraordinary result

-2.110.901,-

Pre-tax and pre-appropriation profit or loss

-3.230.632,-

Taxes

302.808,-

Net profit or loss

-5.644.341,-

 

 

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.

 

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