MIRA INFORM REPORT

 

 

Report Date :

23.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

FIBRES OPTIQUES RECHERCHE ET TECHNOLOGIE

 

 

Registered Office :

 3 Rue Lambert 91410 Dourdan 

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

1938

 

 

Com. Reg. No.:

86B01516, EVRY

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture of Optical Instrument and Photographic Equipment

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

EUR 6000

 

 

Status :

Small Company

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

name & address

 

FIBRES OPTIQUES RECHERCHE ET TECHNOLOGIE

 3 RUE LAMBERT

 91410 DOURDAN FR

Tel. Number +33-1-60811818

 

 

 

Business founded

00 1938

Business registered

04 November 1986 - Public limited company - board of administration

Registration number,

86B01516, EVRY,

Alternative trade name(s),

FORT,

party identification,

592005748,

Legal form

Public limited company - board of administration

Activities

Manufacture of optical instrument and photographic equipment

Payment experience

Payment regular

Credit opinion

Credit opinion

 

Maximum credit limit 6000 EUR is advised

 

The export volume in percentage of total sales for the company.  29,81

 

Financial structure (balance sheet analysis) : Extremely unbalanced 

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Normal 

 

Commitments (regarding contractual obligations) : Fulfilled to date 

 

Payment defaults : None 

Employees (Business)

 14

Total number of shareholders

 1

Total share capital31 December 2006

EUR 1000000

Bank

BP 91 DOURDAN - BNP   

Board members

FORT FRANCOIS   President and managing director

 

FORT BENOIT   Board member

 

FORT JULIEN   Board member

 

FORT DENISE   Board member

Parent company :

MR FORT FRANCOIS   94,98 %   

Subsidiary company.

FORT ALLEMAGNE   100,00 %   

 

FIBER OPTICS RESEARCH GRANDE BRETAGNE   100,00 %   

 

FORT FIBER OTTICHE SRL ITALIE   52,00 %   

 

 

 

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 1.650.070,00

 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

1.393.829,-

Total fixed assets

85.797,-

Total intangible fixed assets

13.374,-

Concessions and industrial rights, goodwill

9.097,-

Total tangible fixed assets

70.747,-

Land and buildings

57.596,-

Plant, machinery and equipment

6.547,-

Total financial fixed assets

1.676,-

Investments (long-term)

1.676,-

Total Current assets

1.307.340,-

Inventories and work in progress (incl. prepayments)

986.883,-

Accounts receivable (trade)

235.373,-

Cash in hand and at bank

1.223,-

Total accrued income and prepaid expenses

4.790,-

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

1.393.829,-

Total equity (Shareholders' funds)

559.768,-

Issued (subscribed) capital

1.000.000,-

Legal reserves

26.831,-

Profit or loss carried forward

-730.464,-

Profit or loss for the previous year

-29.984,-

Profit or loss for the financial year

46.485,-

Subordinate loan capital

43.761,-

Total provisions

687,-

Total liabilities

775.456,-

Total long-term liabilities

277.121,-

Long-term Loans, Mortgage debts

315.474,-

Long-term liabilities to credit institutions

5.408,-

Total current liabilities

498.335,-

Current accounts payable (trade)

267.879,-

Income and social tax liabilities

150.240,-

Borrowing ratio

146,23 %

Current ratio

262,34 %

Debt gearing

57,28 %

Profit margin.

5,92 %

Quick ratio

64,31 %

Return on assets

7,01 %

Return on equity.

8,30 %

Solidity or equity ratio

40,19 %

 

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

Total operating income/revenue

1.735.779,-

Main revenue (sales/turnover)

1.650.070,-

Total operating expenses

1.638.030,-

Personnel costs

464.998,-

Depreciation

55.676,-

Operating profit or loss

97.749,-

Financial income

1.328,-

Financial expenses

35.389,-

Result of ordinary operations

63.688,-

Extraordinary income

12.440,-

Extraordinary expenses

23.718,-

Extraordinary result

-11.278,-

Pre-tax and pre-appropriation profit or loss

63.688,-

Taxes

5.925,-

Net profit or loss

46.485,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 1.358.588,00

 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

1.369.330,-

Total fixed assets

137.683,-

Total intangible fixed assets

58.669,-

Concessions and industrial rights, goodwill

13.527,-

Total tangible fixed assets

77.337,-

Land and buildings

62.937,-

Plant, machinery and equipment

6.358,-

Total financial fixed assets

1.676,-

Investments (long-term)

1.676,-

Total Current assets

1.231.366,-

Inventories and work in progress (incl. prepayments)

1.020.970,-

Accounts receivable (trade)

128.571,-

Cash in hand and at bank

888,-

Total accrued income and prepaid expenses

3.482,-

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

1.369.330,-

Total equity (Shareholders' funds)

513.284,-

Issued (subscribed) capital

1.000.000,-

Legal reserves

26.831,-

Profit or loss carried forward

-700.479,-

Profit or loss for the previous year

-22.998,-

Profit or loss for the financial year

-29.984,-

Total provisions

280,-

Total liabilities

844.297,-

Total long-term liabilities

333.684,-

Long-term Loans, Mortgage debts

319.671,-

Long-term liabilities to credit institutions

14.013,-

Total current liabilities

510.612,-

Current accounts payable (trade)

367.089,-

Income and social tax liabilities

103.624,-

Borrowing ratio

164,43 %

Current ratio

241,15 %

Debt gearing

64,99 %

Profit margin.

-3,19 %

Quick ratio

41,20 %

Return on assets

-3,16 %

Return on equity.

-5,84 %

Solidity or equity ratio

37,50 %

 

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

Total operating income/revenue

1.390.203,-

Main revenue (sales/turnover)

1.358.588,-

Total operating expenses

1.433.488,-

Personnel costs

405.554,-

Depreciation

52.796,-

Operating profit or loss

-43.284,-

Financial income

128,-

Financial expenses

26.488,-

Result of ordinary operations

-69.643,-

Extraordinary income

5.755,-

Extraordinary expenses

6.165,-

Extraordinary result

-409,-

Pre-tax and pre-appropriation profit or loss

-69.644,-

Taxes

-40.069,-

Net profit or loss

-29.984,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 1.270.178,00

 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

1.413.208,-

Total fixed assets

167.085,-

Total intangible fixed assets

86.007,-

Total tangible fixed assets

76.256,-

Land and buildings

65.512,-

Plant, machinery and equipment

6.553,-

Total financial fixed assets

4.819,-

Investments (long-term)

1.676,-

Total Current assets

1.246.122,-

Inventories and work in progress (incl. prepayments)

1.037.199,-

Accounts receivable (trade)

145.207,-

Cash in hand and at bank

21.188,-

Total accrued income and prepaid expenses

1.378,-

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

1.413.208,-

Total equity (Shareholders' funds)

543.269,-

Issued (subscribed) capital

1.000.000,-

Legal reserves

26.831,-

Profit or loss carried forward

-677.480,-

Profit or loss for the financial year

-22.998,-

Subordinate loan capital

43.761,-

Total provisions

10.488,-

Total liabilities

804.084,-

Total long-term liabilities

316.462,-

Long-term Loans, Mortgage debts

333.499,-

Long-term liabilities to credit institutions

26.724,-

Total current liabilities

487.619,-

Current accounts payable (trade)

254.736,-

Income and social tax liabilities

170.726,-

Borrowing ratio

154,10 %

Current ratio

255,55 %

Debt gearing

65,47 %

Profit margin.

1,59 %

Quick ratio

42,85 %

Return on assets

1,43 %

Return on equity.

-4,18 %

Solidity or equity ratio

38,93 %

 

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

Total operating income/revenue

1.271.574,-

Main revenue (sales/turnover)

1.270.178,-

Total operating expenses

1.251.430,-

Personnel costs

402.265,-

Depreciation

57.133,-

Operating profit or loss

20.143,-

Financial income

907,-

Financial expenses

30.022,-

Result of ordinary operations

-8.971,-

Extraordinary income

8.674,-

Extraordinary expenses

20.526,-

Extraordinary result

-11.852,-

Pre-tax and pre-appropriation profit or loss

-8.971,-

Taxes

2.175,-

Net profit or loss

-22.998,-

 

 

 

 

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