MIRA INFORM REPORT

 

 

Report Date :

06.10.2007

 

IDENTIFICATION DETAILS

 

Name :

PLASTEX SA

 

 

Registered Office :

4 Route Du Mole 2-3, 92230 Gennevilliers Fr

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

24 June 1998

 

 

Com. Reg. No.:

06B01636

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

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

 

PLASTEX SA

4 ROUTE DU MOLE 2-3

92230 GENNEVILLIERS FR

Tel. Number       +33-1-41473700

 

 

Business founded

24 June 1998

Business registered

14 March 2006 - Public limited company (no information regarding quotation)

Registration number,

06B01636, NANTERRE,

Trade name,

BERING,

party identification,

419487020,

Legal form

Public limited company (no information regarding quotation)

Activities

Wholesale of clothing and footwear

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.  34,72

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Outstanding 

 

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

 

Payment defaults : None 

Employees (Business)

 17

Total number of shareholders

 1

Total share capital31 December 2006

EUR 1706421

Bank

SAN PAOLO 75 PARIS FORTIS 92 NANTERRE   

Boardmembers

DE ROALDES DOUMENJOU OLIVIER   President

Auditor

AUDITEURS ET CONSEILS ASSOCIES, REPRESENTED BY LELONG OLIVIER   Auditor

 

MAHE FRANCOIS   Deputy auditor

Parent company :

449031012   HOLDING TROPHY   100,00 %   

Subsidiary company.

BERING LTD   100,00 %   

 

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 20.522.522,00

 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

12.714.598,-

Total fixed assets

211.454,-

Total intangible fixed assets

85.821,-

Concessions and industrial rights, goodwill

9.596,-

Total tangible fixed assets

31.130,-

Total financial fixed assets

94.503,-

Loans, shares and participations

94.503,-

Total Current assets

12.503.144,-

Inventories and work in progress (incl. prepayments)

5.773.231,-

Accounts receivable (trade)

4.456.686,-

Cash in hand and at bank

1.440.571,-

Total accrued income and prepaid expenses

3.233,-

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

12.714.598,-

Total equity (Shareholders' funds)

5.839.108,-

Issued (subscribed) capital

1.706.421,-

Share premium account (capital reserve)

34.032,-

Legal reserves

170.642,-

Profit or loss carried forward

1.377.771,-

Profit or loss for the previous year

2.173.911,-

Profit or loss for the financial year

1.360.817,-

Total provisions

772.225,-

Total liabilities

6.103.266,-

Total long-term liabilities

3.390.226,-

Long-term Loans, Mortgage debts

3.143.778,-

Long-term liabilities to credit institutions

246.448,-

Total current liabilities

2.713.040,-

Current accounts payable (trade)

773.803,-

Income and social tax liabilities

781.919,-

Borrowing ratio

96,13 %

Current ratio

460,85 %

Debt gearing

53,40 %

Profit margin.

15,77 %

Quick ratio

248,06 %

Return on assets

25,46 %

Return on equity.

21,43 %

Solidity or equity ratio

49,93 %

 

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

Total operating income/revenue

21.475.507,-

Main revenue (sales/turnover)

20.522.522,-

Total operating expenses

18.238.417,-

Cost of materials (type of expenditure format)

11.211.331,-

Personnel costs

1.025.437,-

Depreciation

5.107,-

Operating profit or loss

3.237.090,-

Financial income

91.803,-

Financial expenses

586.097,-

Result of ordinary operations

2.742.796,-

Extraordinary income

28.767,-

Extraordinary expenses

521.764,-

Extraordinary result

-492.997,-

Pre-tax and pre-appropriation profit or loss

2.742.796,-

Taxes

888.982,-

Net profit or loss

1.360.817,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 19.930.038,00

 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

10.796.527,-

Total fixed assets

137.915,-

Total intangible fixed assets

87.982,-

Concessions and industrial rights, goodwill

11.757,-

Total tangible fixed assets

49.830,-

Plant, machinery and equipment

1.476,-

Total financial fixed assets

103,-

Loans, shares and participations

103,-

Total Current assets

10.658.612,-

Inventories and work in progress (incl. prepayments)

3.924.843,-

Accounts receivable (trade)

4.047.697,-

Cash in hand and at bank

756.203,-

Total accrued income and prepaid expenses

48.102,-

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

10.796.527,-

Total equity (Shareholders' funds)

5.448.292,-

Issued (subscribed) capital

1.706.421,-

Share premium account (capital reserve)

34.032,-

Legal reserves

156.157,-

Profit or loss carried forward

1.377.771,-

Profit or loss for the previous year

1.403.592,-

Profit or loss for the financial year

2.173.911,-

Total provisions

556.035,-

Total liabilities

4.792.200,-

Total long-term liabilities

2.035.088,-

Long-term Loans, Mortgage debts

2.035.088,-

Total current liabilities

2.757.113,-

Current accounts payable (trade)

1.220.509,-

Income and social tax liabilities

635.398,-

Borrowing ratio

82,41 %

Current ratio

386,59 %

Debt gearing

35,00 %

Profit margin.

18,27 %

Quick ratio

244,23 %

Return on assets

33,73 %

Return on equity.

37,38 %

Solidity or equity ratio

53,86 %

 

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

Total operating income/revenue

21.033.968,-

Main revenue (sales/turnover)

19.930.038,-

Total operating expenses

17.392.340,-

Cost of materials (type of expenditure format)

10.427.596,-

Personnel costs

948.923,-

Depreciation

40.000,-

Operating profit or loss

3.641.627,-

Financial income

26.127,-

Financial expenses

301.983,-

Result of ordinary operations

3.365.771,-

Extraordinary income

101.310,-

Extraordinary expenses

164.716,-

Extraordinary result

-63.406,-

Pre-tax and pre-appropriation profit or loss

3.365.772,-

Taxes

1.128.455,-

Net profit or loss

2.173.911,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 18.728.758,00

 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

10.921.985,-

Total fixed assets

235.862,-

Total intangible fixed assets

184.867,-

Concessions and industrial rights, goodwill

108.642,-

Total tangible fixed assets

50.992,-

Plant, machinery and equipment

3.358,-

Total financial fixed assets

3,-

Loans, shares and participations

3,-

Total Current assets

10.686.124,-

Inventories and work in progress (incl. prepayments)

2.564.233,-

Accounts receivable (trade)

3.329.288,-

Cash in hand and at bank

2.333.134,-

Total accrued income and prepaid expenses

6.876,-

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

10.921.986,-

Total equity (Shareholders' funds)

4.174.444,-

Issued (subscribed) capital

1.706.421,-

Share premium account (capital reserve)

34.032,-

Legal reserves

85.978,-

Profit or loss carried forward

944.421,-

Profit or loss for the financial year

1.403.592,-

Total provisions

579.005,-

Total liabilities

6.168.537,-

Total long-term liabilities

3.183.612,-

Long-term Loans, Mortgage debts

3.183.609,-

Long-term liabilities to credit institutions

3,-

Total current liabilities

2.984.928,-

Current accounts payable (trade)

1.774.886,-

Income and social tax liabilities

648.459,-

Borrowing ratio

135,38 %

Current ratio

358,00 %

Debt gearing

69,87 %

Profit margin.

19,01 %

Quick ratio

272,10 %

Return on assets

32,59 %

Return on equity.

30,80 %

Solidity or equity ratio

41,72 %

 

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

Total operating income/revenue

19.562.476,-

Main revenue (sales/turnover)

18.728.758,-

Total operating expenses

16.002.861,-

Cost of materials (type of expenditure format)

8.044.364,-

Personnel costs

1.042.193,-

Depreciation

35.337,-

Operating profit or loss

3.559.615,-

Financial income

79.877,-

Financial expenses

376.474,-

Result of ordinary operations

3.263.018,-

Extraordinary income

691.189,-

Extraordinary expenses

1.428.869,-

Extraordinary result

-737.680,-

Pre-tax and pre-appropriation profit or loss

3.263.018,-

Taxes

1.121.745,-

Net profit or loss

1.403.592,-

 

 

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