MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRUFLO RONA SA |
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Registered Office : |
Parc Industriel Des Hauts 4040 Herstal |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01.01.1967 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Assembly of Industrial
Valves and Fittings. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow by 15 days |
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Litigation : |
Clear |
name & address
Truflo Rona SA
Parc Industriel
Des Hauts
4040 HERSTAL
Tel.:+32
(0)4-2406886
Fax.:+32
(0)4-2643740
Legal
status
NV Public limited company
[nat. law]
Founded
01/01/1967, P.l.c. since
01/02/1968
Trade
register
99106273
Capital
Nominal EUR 87.000,--
Issued and paid up EUR 87.000,--
Management
-Carpio Francis, Rue de
Heuseux 80, 4671 Saive
-Gerome Serge, Champ de Foyr 43, 4845 Jalhay
-Steele John,
Gruestrasse 6, 8474 Dinhard (CH)
-Coachhouse
Management Services Ltd, THe UK
Activity
Assembly of
industrial valves and fittings.
Staff
68 employees
Turnover
Net turnover:
2006 Euro 18.497.861
2005 Euro 15.168.534
2004 Euro 13.233.994
Real
estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 2.781.469
2005 Euro 1.778.844
2004 Euro 2.197.998
The
shareholders equity was as of:
31/12/2006 Euro 3.286.047
31/12/2005 Euro 509.805
31/12/2004 Euro (1.256.002)
The working
capital was as of:
31/12/2006 Euro 1.689.517
31/12/2005 Euro 1.852.926
31/12/2004 Euro 1.474.991
Other
bankers:
KBC Bank,
account no. 196-0281692-59
Export : PR
China, Japan, Germany and the USA
General
website : www.truflointernational.com/
There was a
subsidiary, FCX Belgium SA, which was acquired in
2006 by the
Transmark group. FCX Belgium SA has seized to
exist; the
sucessor company is no longer related to subject matter.
Full address:
PARC INDUSTRIEL
DES HAUTS SARTS
Quatrième Avenue
1, 4040 Herstal
Banks
KBC Bank, CBC 196-0281692-59
VAT-nr.
BE404446646
Mode
of payment
On average 15 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 1.897.510 2.548.179
Financial assets 103.998 112.905
Miscellaneous fixed assets 0 0
Total fixed assets 2.001.508 2.661.084
Stock 1.634.650 837.166
Receivables 4.275.723 3.439.551
Shares 0 513.906
Liquid assets 1.177.121 743.197
Miscellaneous current assets 138.866 6.696
Total current assets 7.226.360 5.540.516
Shareholders
equity 509.805 3.286.047
Provisions 270.462 676.023
Long-term liabilities 3.074.167 388.531
Current liabilities 5.373.434 3.850.999
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 9.227.868 8.201.600
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 15.168.534 18.497.861
Other income 37.304 30.881
Total expenses 13.113.723 15.294.790
Operating profit 2.064.808 3.182.109
Balance financial P/L -180.607 -78.449
Net profit/loss 1] 1.884.201 3.103.660
Taxation 0 330.670
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 1.884.201 2.772.990
Balance extraordinary P/L -111.801 5.787
Taxation 0 0
Extraordinary P/L 2] -111.801 5.787
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 6.444 2.692
Net result 1.778.844 2.781.469
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 5,5 40,1
Equity/outside
capital 5,8 66,8
LIQUIDITY
Current ratio 1,3 1,4
Acid test 1 1,2
RATES OF RETURN %
Total assets 20,4 37,8
Shareholders equity 369,6 94,4
Pre tax
margin % 12,4 16,8
Turnover rate 164,4 225,5
(x
1) (x 1)
-------------------- --------------------
Working capital 1.852.926 1.689.517
Shareholders equity + Equalization acc. 509.805 3.286.047
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%)