MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
CFS Bakel B.V. |
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Registered Office : |
Beekakker 11, 5761 En Bakel |
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Country : |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
01/01/1948 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture, design and sales of as well as services on
machinery for the convenience food industry. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
name & address
CFS Bakel B.V.
Beekakker 11
5761 EN BAKEL
Tel.:+31
(0)492-342985
Fax.:+31
(0)492-349416
Legal status
BV Private Company Ltd. acc. nat. law
Founded
01/01/1948, Ltd. since 18/12/1979
Trade register
17044170
Capital
nominal EUR 78.957,--
issued and paid up EUR 24.957,--
Management
H.W.J. Jorissen, born 25/02/1960,
Keizerstraat 9, 5751 MR DEURNE
J.M.J. van Deursen, born 20/05/1949, Schommerveld 17, 5751 EA DEURNE
John Ole Hansen, born 20/12/1952, Avenue Marie Antoinette
16,
I Ploegsma, born 08/12/1962, Ouwlandsedijk 11, 5673 PS NUENEN
Jonathan David Lea, born 21/06/1958, Fulmer Road 88,
Activity
Manufacture, design and sales of as well as services on machinery for the convenience food industry.
Trade name
-Koppens
-Belam
-CFS Benelux
-CFS
Middle-East
Staff
358 employees
from the
consolidated balance sheet of Cfs Holdings B.V.
2007 Euro 420.235.000
2006 Euro 411.874.000
2005 Euro 451.690.000
Real estate
The business premises
at the mentioned address has been rented by the company, as far as we know.
See balance sheet
Remarks
Subsidiary company
of
-Cfs B.V.,
Beekakker 11, 5761 EN BAKEL
Ultimate parent company
-Cfs Holdings
B.V.,
Beekakker 11, 5761
EN Bakel.
The next
financial data is extracted from the consolidated balance sheet of 'Cfs Holdings B.V.'
Consolidated net result:
2007 Euro (9.108.000)
2006 Euro (12.265.000)
2005 Euro (30.809.000)
The shareholders equity was as of:
28/2/2007 Euro
(43.729.000)
28/2/2006 Euro (35.341.000)
28/02/2005 Euro (22.213.000)
The working capital was as of:
28/2/2007 Euro 35.347.000
28/2/2006 Euro 36.316.000
28/02/2005 Euro 35.250.000
A declaration
of liability has been issued by CFS Holding NV
effective 2005.
Correspondence address:
Postbus 1
5760 AA BAKEL
Website : www.cfs.com
Banks
ING Bank,
Rabobank,
Mode of payment
On average 5 days beyond
terms.
Credit demand
No direct
objections against entering into a business relationship.
With regard to
the financial situation, we advise you to deal on cash-payment terms only.
The following financial data is retrieved from the
consolidated balance sheet of :
Cfs Holdings B.V.
Beekakker,
5761EN BAKEL
Trade register 34206247
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Cfs Holdings B.V. *** BALANCE SHEET ***
Consolidated in Euro(x
1.000) Euro(x 1.000)
---28-02-2006--- ------28-02-2007---
Intangible assets 95.983 91.188
Tangible assets 65.175 69.670
Financial assets 7.566 2.526
Miscellaneous fixed assets 0 0
Total fixed
assets 168.724 163.384
Stock 95.060 96.411
Receivables 81.672 91.579
Shares 0 0
Liquid assets 25.221 15.558
Miscellaneous current assets 0 0
Total current
assets 201.953 203.548
Shareholders
equity -35.341 -43.729
Provisions 37.645 32.719
Long-term liabilities 202.736 209.741
Current liabilities 165.637 168.201
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 370.677 366.932
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Cfs Holdings B.V. *** PROFIT & LOSS ACCOUNT ***
Consolidated in Euro(x
1.000) Euro(x 1.000)
---28-02-2006--- ------28-02-2007---
Turnover 411.874 420.235
Other income 422 409
Total expenses 403.683 401.388
Operating profit 8.613 19.256
Balance financial P/L -22.393 -25.071
Net profit/loss 1] -13.780 -5.815
Taxation -1.515 3.293
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -12.265 -9.108
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2] 0 0
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result -12.265 -9.108
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Legend : 1]
= Before tax
2]
= After tax
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Cfs Holdings B.V. *** FINANCIAL RATIOS ***
-----2006----- -----2007-----
EQUITY %
Equity gearing -9,5 -11,9
Equity/outside capital -8,7 -10,6
LIQUIDITY
Current
ratio 1,2 1,2
Acid
test 0,6 0,6
RATES
OF RETURN %
Total
assets -3,7 -1,6
Shareholders equity 39 13,3
Pre
tax margin % -3,3 -1,4
Turnover
rate 111,1 114,5
(x 1.000) (x 1.000)
------------------- - --------------------
Working
capital 36.316 35.347
Shareholders equity + Equalization acc. -35.341 -43.729
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)