MIRA INFORM REPORT

 

 

Report Date :

03.10.2007

 

IDENTIFICATION DETAILS

 

Name :

SAFIC ALCAN

 

 

Registered Office :

3 Rue Bellini, 92800 Puteaux Fr

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

23 April 2002

 

 

Com. Reg. No.:

02B02020

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Wholesale of chemical products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

150000 EUR

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

SAFIC ALCAN

3 RUE BELLINI

92800 PUTEAUX FR

Tel. Number       +33-1-46926464

Fax number       +33-1-47788813

 

 

Business founded

23 April 2002

Business registered

27 April 2002 - Public limited company (no information regarding quotation)

Registration number,

02B02020, NANTERRE,

party identification,

441787199,

Legal form

Public limited company (no information regarding quotation)

Activities

Wholesale of chemical products

Payment experience

Payment regular

Credit opinion

Normal 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) : Balanced 

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Normal 

 

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

 

Payment defaults : None 

Employees (Business)

 86

Total number of shareholders

 1

Total share capital31 December 2006

EUR 25076000

Bank

CL 92 PUTEAUX - BNP   

Boardmembers

LECAT MARTIAL   Chairman of the board

 

DUCHANGE JEROME   Boardmember

 

LECAT MARTIAL   Boardmember

 

COMBETTE PHILIPPE   Boardmember

Management

COMBETTE PHILIPPE   Managing director

 

LEBARD PASCAL   Chairman of the supervisory board

 

FESNEAU FLORENCE   Supervisory boardmember

Auditor

BOUILLET PHILIPPE   Deputy auditor

Parent company :

450980677   SAFICA   100,00 %   

 

 

 

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 243.407.000,00

 Consolidated group profit and loss turnover: 

 

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

Total assets incl. prepaid expenses and accrued income

125.840.000,-

Total fixed assets

10.659.000,-

Total intangible fixed assets

84.000,-

Total tangible fixed assets

2.206.000,-

Total financial fixed assets

1.219.000,-

Loans, shares and participations

568.000,-

Total Current assets

115.180.000,-

Inventories and work in progress (incl. prepayments)

24.294.000,-

Accounts receivable (trade)

64.332.000,-

Cash in hand and at bank

20.872.000,-

Total accrued income and prepaid expenses

423.000,-

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

125.840.000,-

Total equity (Shareholders' funds)

62.313.000,-

Issued (subscribed) capital

25.076.000,-

Share premium account (capital reserve)

1.061.000,-

Total provisions

8.998.000,-

Total liabilities

54.529.000,-

Total long-term liabilities

12.460.000,-

Long-term liabilities to credit institutions

12.460.000,-

Total current liabilities

42.057.000,-

Current accounts payable (trade)

28.036.000,-

Total accrued expenses and deferred income

12.000,-

Borrowing ratio

79,89 %

Current ratio

273,79 %

Debt gearing

18,26 %

Profit margin.

5,61 %

Quick ratio

216,04 %

Return on assets

10,86 %

Return on equity.

13,96 %

Solidity or equity ratio

54,24 %

 

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

Total operating income/revenue

249.497.000,-

Main revenue (sales/turnover)

243.407.000,-

Total operating expenses

235.834.000,-

Cost of materials (type of expenditure format)

205.947.000,-

Personnel costs

19.759.000,-

Depreciation

710.000,-

Operating profit or loss

13.663.000,-

Financial income

1.434.000,-

Financial expenses

1.116.000,-

Result of ordinary operations

13.981.000,-

Extraordinary income

1.242.000,-

Extraordinary expenses

205.000,-

Extraordinary result

1.037.000,-

Pre-tax and pre-appropriation profit or loss

13.982.000,-

Taxes

4.037.000,-

Net profit or loss

9.525.000,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 868.927.000,00

 Consolidated group profit and loss turnover: 

 

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

Total assets incl. prepaid expenses and accrued income

130.801.000,-

Total fixed assets

8.582.000,-

Total intangible fixed assets

170.000,-

Total tangible fixed assets

2.379.000,-

Land and buildings

272.000,-

Total financial fixed assets

1.104.000,-

Loans, shares and participations

298.000,-

Total Current assets

122.219.000,-

Inventories and work in progress (incl. prepayments)

19.400.000,-

Accounts receivable (trade)

49.434.000,-

Cash in hand and at bank

38.296.000,-

Total accrued income and prepaid expenses

187.000,-

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

130.801.000,-

Total equity (Shareholders' funds)

62.477.000,-

Issued (subscribed) capital

25.076.000,-

Share premium account (capital reserve)

1.061.000,-

Total provisions

9.465.000,-

Total liabilities

58.859.000,-

Total long-term liabilities

3.616.000,-

Long-term Loans, Mortgage debts

3.616.000,-

Total current liabilities

55.230.000,-

Current accounts payable (trade)

33.205.000,-

Total accrued expenses and deferred income

13.000,-

Borrowing ratio

85,65 %

Current ratio

221,24 %

Debt gearing

5,26 %

Profit margin.

1,64 %

Quick ratio

186,12 %

Return on assets

10,89 %

Return on equity.

20,54 %

Solidity or equity ratio

52,54 %

 

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

Total operating income/revenue

892.611.000,-

Main revenue (sales/turnover)

868.927.000,-

Total operating expenses

878.367.000,-

Personnel costs

27.401.000,-

Depreciation

959.000,-

Operating profit or loss

14.244.000,-

Financial income

826.000,-

Financial expenses

1.564.000,-

Result of ordinary operations

13.506.000,-

Extraordinary income

7.676.000,-

Extraordinary result

7.676.000,-

Pre-tax and pre-appropriation profit or loss

13.505.000,-

Taxes

8.770.000,-

Net profit or loss

14.118.000,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 894.952.000,00

 Consolidated group profit and loss turnover: 

 

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

Total assets incl. prepaid expenses and accrued income

190.170.000,-

Total fixed assets

8.287.000,-

Total intangible fixed assets

95.000,-

Total tangible fixed assets

2.555.000,-

Land and buildings

272.000,-

Total financial fixed assets

1.494.000,-

Loans, shares and participations

478.000,-

Total Current assets

181.883.000,-

Inventories and work in progress (incl. prepayments)

44.187.000,-

Accounts receivable (trade)

129.586.000,-

Cash in hand and at bank

5.572.000,-

Total accrued income and prepaid expenses

299.000,-

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

190.170.000,-

Total equity (Shareholders' funds)

60.564.000,-

Issued (subscribed) capital

25.076.000,-

Share premium account (capital reserve)

8.083.000,-

Total provisions

12.267.000,-

Total liabilities

117.339.000,-

Total long-term liabilities

49.206.000,-

Long-term liabilities to credit institutions

49.206.000,-

Total current liabilities

67.470.000,-

Current accounts payable (trade)

51.658.000,-

Total accrued expenses and deferred income

663.000,-

Borrowing ratio

170,90 %

Current ratio

266,95 %

Debt gearing

71,67 %

Profit margin.

1,57 %

Quick ratio

202,10 %

Return on assets

7,38 %

Return on equity.

11,83 %

Solidity or equity ratio

36,10 %

 

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

Total operating income/revenue

906.486.000,-

Main revenue (sales/turnover)

894.952.000,-

Total operating expenses

892.451.000,-

Cost of materials (type of expenditure format)

852.578.000,-

Personnel costs

23.645.000,-

Depreciation

992.000,-

Operating profit or loss

14.035.000,-

Financial income

1.261.000,-

Financial expenses

1.220.000,-

Result of ordinary operations

14.076.000,-

Extraordinary income

102.000,-

Extraordinary expenses

1.789.000,-

Extraordinary result

-1.687.000,-

Pre-tax and pre-appropriation profit or loss

14.076.000,-

Taxes

3.925.000,-

Net profit or loss

8.122.000,-

 

 

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