MIRA INFORM REPORT

 

 

Report Date :

11.10.2007

 

IDENTIFICATION DETAILS

 

Name :

GEORGES S DARAS SA

 

 

Registered Office :

14 Rue Fortia, 13001 Marseille 01 Fr

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

01 January 1955

 

 

Com. Reg. No.:

55B00960

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Non-specialized wholesale of food, beverages and tobacco.

 

 

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

 

GEORGES S DARAS SA

14 RUE FORTIA

13001 MARSEILLE 01 FR

Tel. Number       +33-4-91048801

 

 

Business founded

01 January 1955

Registration number,

55B00960, MARSEILLE,

Trade name,

CODAF,

party identification,

055809602,

Legal form

Public limited company - board of administration

Activities

Non-specialized wholesale of food, beverages and tobacco

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.  70,18

 

Financial structure (balance sheet analysis) : Balanced 

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Feeble 

 

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

 

Payment defaults : None 

Employees (Business)

 20

Total number of shareholders

 3

Total share capital31 December 2006

EUR 780000

Bank

BNP CA AG PRADO NATEXIS SG 13 MARSEILLE 08   

Boardmembers

COULLAUT FRANCOIS   Chairman of the board

 

DARAS GEORGES   Boardmember

 

COULLAUT EMMANUEL   Boardmember

 

DARAS CEDRIC   Boardmember

Management

COULLAUT FRANCOIS   Managing director

Auditor

CAMPANA MARC   Auditor

 

CAMPANA MARC   Deputy auditor

(Part-) Owner

MR ET MME COULLAUT FRANCOIS   

 

MR CONTANDRIOPOULOS YVES   

Parent company :

FAMILLE DARAS   

Subsidiary company.

479941395   DARACHIMIE   100,00 %   

 

479942112   DARAGRO   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 27.298.078,00

 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

9.811.904,-

Total fixed assets

575.221,-

Total intangible fixed assets

6.552,-

Concessions and industrial rights, goodwill

6.552,-

Total tangible fixed assets

176.606,-

Land and buildings

144.992,-

Total financial fixed assets

392.063,-

Loans, shares and participations

191.336,-

Total Current assets

9.236.683,-

Inventories and work in progress (incl. prepayments)

1.424.375,-

Accounts receivable (trade)

7.038.553,-

Cash in hand and at bank

482.676,-

Total accrued income and prepaid expenses

8.837,-

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

9.811.904,-

Total equity (Shareholders' funds)

2.425.392,-

Issued (subscribed) capital

780.000,-

Legal reserves

78.000,-

Revaluation reserves

816.581,-

Profit or loss carried forward

184.907,-

Profit or loss for the previous year

184.907,-

Profit or loss for the financial year

20.030,-

Total liabilities

7.386.512,-

Total long-term liabilities

12.934,-

Long-term Loans, Mortgage debts

2.288,-

Long-term liabilities to credit institutions

10.646,-

Total current liabilities

7.373.579,-

Current accounts payable (trade)

1.098.856,-

Income and social tax liabilities

153.445,-

Borrowing ratio

304,55 %

Current ratio

125,27 %

Debt gearing

0,53 %

Profit margin.

1,95 %

Quick ratio

105,95 %

Return on assets

5,43 %

Return on equity.

0,83 %

Solidity or equity ratio

24,72 %

 

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

Total operating income/revenue

27.448.956,-

Main revenue (sales/turnover)

27.298.078,-

Total operating expenses

26.916.626,-

Cost of materials (type of expenditure format)

22.382.706,-

Personnel costs

780.279,-

Depreciation

48.121,-

Operating profit or loss

532.330,-

Financial income

25.420,-

Financial expenses

412.375,-

Result of ordinary operations

145.375,-

Extraordinary income

22.857,-

Extraordinary expenses

135.344,-

Extraordinary result

-112.487,-

Pre-tax and pre-appropriation profit or loss

145.375,-

Taxes

12.857,-

Net profit or loss

20.030,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 27.262.509,00

 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

10.957.730,-

Total fixed assets

624.512,-

Total intangible fixed assets

11.393,-

Concessions and industrial rights, goodwill

11.393,-

Total tangible fixed assets

213.594,-

Land and buildings

170.870,-

Total financial fixed assets

399.525,-

Loans, shares and participations

191.336,-

Total Current assets

10.333.218,-

Inventories and work in progress (incl. prepayments)

2.709.324,-

Accounts receivable (trade)

6.844.390,-

Cash in hand and at bank

498.343,-

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

10.957.730,-

Total equity (Shareholders' funds)

2.405.362,-

Issued (subscribed) capital

780.000,-

Legal reserves

78.000,-

Revaluation reserves

816.581,-

Profit or loss for the previous year

206.744,-

Profit or loss for the financial year

184.907,-

Total provisions

30.602,-

Total liabilities

8.521.767,-

Total long-term liabilities

4.448,-

Long-term Loans, Mortgage debts

4.448,-

Total current liabilities

8.517.320,-

Current accounts payable (trade)

1.905.773,-

Income and social tax liabilities

235.221,-

Borrowing ratio

351,33 %

Current ratio

121,32 %

Debt gearing

0,18 %

Profit margin.

0,94 %

Quick ratio

89,51 %

Return on assets

2,33 %

Return on equity.

7,62 %

Solidity or equity ratio

22,14 %

 

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

Total operating income/revenue

27.333.258,-

Main revenue (sales/turnover)

27.262.509,-

Total operating expenses

27.078.034,-

Cost of materials (type of expenditure format)

22.962.113,-

Personnel costs

905.292,-

Depreciation

49.040,-

Operating profit or loss

255.224,-

Financial income

24.650,-

Financial expenses

339.327,-

Result of ordinary operations

-59.453,-

Extraordinary income

369.550,-

Extraordinary expenses

28.514,-

Extraordinary result

341.036,-

Pre-tax and pre-appropriation profit or loss

-59.452,-

Taxes

96.677,-

Net profit or loss

184.907,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 29.170.611,00

 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

11.787.659,-

Total fixed assets

686.256,-

Total intangible fixed assets

7.846,-

Concessions and industrial rights, goodwill

7.846,-

Total tangible fixed assets

249.592,-

Land and buildings

196.746,-

Plant, machinery and equipment

116,-

Total financial fixed assets

428.816,-

Loans, shares and participations

154.336,-

Total Current assets

11.101.402,-

Inventories and work in progress (incl. prepayments)

2.946.807,-

Accounts receivable (trade)

7.094.311,-

Cash in hand and at bank

705.884,-

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

11.787.659,-

Total equity (Shareholders' funds)

2.220.454,-

Issued (subscribed) capital

780.000,-

Legal reserves

68.689,-

Revaluation reserves

816.581,-

Profit or loss carried forward

-132.076,-

Profit or loss for the financial year

206.744,-

Total provisions

247.359,-

Total liabilities

9.319.844,-

Total long-term liabilities

239.869,-

Long-term Loans, Mortgage debts

239.869,-

Total current liabilities

9.079.974,-

Current accounts payable (trade)

1.232.098,-

Income and social tax liabilities

313.477,-

Borrowing ratio

391,06 %

Current ratio

122,26 %

Debt gearing

10,06 %

Profit margin.

1,89 %

Quick ratio

89,81 %

Return on assets

4,68 %

Return on equity.

8,67 %

Solidity or equity ratio

20,22 %

 

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

Total operating income/revenue

29.183.384,-

Main revenue (sales/turnover)

29.170.611,-

Total operating expenses

28.631.390,-

Cost of materials (type of expenditure format)

24.450.516,-

Personnel costs

919.862,-

Depreciation

52.657,-

Operating profit or loss

551.994,-

Financial income

25.774,-

Financial expenses

268.190,-

Result of ordinary operations

309.579,-

Extraordinary income

41.239,-

Extraordinary expenses

35.979,-

Extraordinary result

5.260,-

Pre-tax and pre-appropriation profit or loss

309.578,-

Taxes

108.095,-

Net profit or loss

206.744,-

 

 

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