MIRA
INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOC DELSEY |
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Registered Office : |
215 Avenue Des Nations 93290 Tremblay En France |
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Country : |
France |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
01 January 1957 |
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Com. Reg. No.: |
98B04453, BOBIGNY |
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Legal Form : |
Public Limited Company - Board of Administration |
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Line of Business : |
Manufacture of Luggage, Handbags and the like, Saddlery and Harness |
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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Maximum Credit Limit : |
EUR 150000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
SOC DELSEY
215 AVENUE
DES NATIONS
93290 TREMBLAY
EN FRANCE FR
Tel. Number
+33-1-49383000
Fax number
+33-1-49383121
Business founded
01 January 1957
Registration number
98B04453, BOBIGNY,
party identification
572017507,
Legal form
Public limited
company - board of administration
Activities
Manufacture of
luggage, handbags and the like,saddlery and harness
Payment experience
Payment regular
Credit opinion
Normal
creditworthiness
Maximum credit limit 150000 EUR is advised
Financial structure (balance sheet analysis) : Sufficient
Cash situation (balance sheet analysis) : Sufficient
Profitability (balance sheet analysis) : Feeble
Commitments (regarding contractual obligations) : Fulfilled („respectés“)
Payment defaults
None
Employees (Business)
749
Total number of shareholders
1
Total share capital28 February 2007
EUR 9099576
Branch office(s)
2 RUE JULES
VALLES,95670 MARLY LA VILLE
ZI LA
ROSERAIE,80500 MONTDIDIER
228 AVENUE ALFRED
MOTTE,59100 ROUBAIX
BOULEVARD DU
PARC,62231 COQUELLES
MARQUES
AVENUE,57525 TALANGE
Bank
CL 93 ST DENIS -
CDN AG ENT 75 PARIS, NATEXIS AG ENT 93 ROISSY - BNP
Board members
JACOBSEN
EBBE President and managing director
JACOBSEN
EBBE Board member
ABOU GHNNAM
KARIM Board member
SADRE
PATRICK Board member
Auditor
AMSELEM
VICTOR Deputy auditor
Parent company
493957823 DELSEY
HOLDING 99,99 %
Associate company
DELSEY LUGGAGE
LIMITED 33,33 %
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The business owns or partly owns one or more pieces of land and buildings? Yes(Property)
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Turnover for the period: 00 0000 - 28 February 2007 in
EUR 10.126.254,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate
balance sheet for the year: 00 0000 - 28 February 2007 in
EUR |
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Total assets incl. prepaid expenses and accrued income |
26.391.333,- |
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Total fixed assets |
1.715.478,- |
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Total intangible fixed assets |
38.737,- |
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Concessions and industrial rights, goodwill |
38.737,- |
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Total tangible fixed assets |
1.150.177,- |
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Land and buildings |
480.779,- |
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Plant, machinery and equipment |
21.116,- |
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Total financial fixed assets |
526.561,- |
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Total Current assets |
24.265.070,- |
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Inventories and work in progress (incl. prepayments) |
10.353.680,- |
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Accounts receivable (trade) |
12.368.424,- |
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Cash in hand and at bank |
1.117.343,- |
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Total accrued income and prepaid expenses |
697.933,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
26.391.333,- |
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Total equity (Shareholders' funds) |
7.382.733,- |
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Issued (subscribed) capital |
9.099.576,- |
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Legal reserves |
99.199,- |
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Profit or loss carried forward |
-3.817.775,- |
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Profit or loss for the previous year |
9.038.949,- |
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Profit or loss for the financial year |
1.614.890,- |
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Total provisions |
684.861,- |
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Total liabilities |
18.128.369,- |
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Total long-term liabilities |
6.213.046,- |
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Long-term Loans, Mortgage debts |
6.213.046,- |
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Total current liabilities |
11.915.321,- |
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Current accounts payable (trade) |
3.295.369,- |
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Income and social tax liabilities |
2.160.767,- |
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Borrowing ratio |
231,38 % |
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Current ratio |
203,65 % |
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Debt gearing |
79,30 % |
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Profit margin. |
8,70 % |
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Quick ratio |
116,75 % |
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Return on assets |
3,34 % |
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Return on equity. |
20,61 % |
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Solidity or equity ratio |
29,69 % |
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Corporate profit
and loss account for the year: 00 0000 - 28 February 2007 in
EUR |
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Total operating income/revenue |
10.874.334,- |
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Main revenue (sales/turnover) |
10.126.254,- |
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Total operating expenses |
9.992.925,- |
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Cost of materials (type of expenditure format) |
6.760.385,- |
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Personnel costs |
1.170.051,- |
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Depreciation |
67.496,- |
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Operating profit or loss |
881.408,- |
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Financial income |
1.171.832,- |
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Financial expenses |
440.215,- |
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Result of ordinary operations |
1.613.025,- |
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Extraordinary income |
5.082,- |
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Extraordinary expenses |
3.218,- |
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Extraordinary result |
1.864,- |
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Pre-tax and pre-appropriation profit or loss |
1.613.025,- |
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Net profit or loss |
1.614.890,- |
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Turnover for the period: 00 0000 - 31 December 2006 in
EUR 73.860.147,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate
balance sheet for the year: 00 0000 - 31 December 2006 in
EUR |
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Total assets incl. prepaid expenses and accrued income |
26.389.826,- |
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Total fixed assets |
1.763.445,- |
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Total intangible fixed assets |
41.654,- |
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Concessions and industrial rights, goodwill |
41.654,- |
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Total tangible fixed assets |
1.195.227,- |
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Land and buildings |
477.741,- |
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Plant, machinery and equipment |
22.744,- |
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Total financial fixed assets |
526.561,- |
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Total Current assets |
23.874.898,- |
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Inventories and work in progress (incl. prepayments) |
9.264.920,- |
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Accounts receivable (trade) |
13.290.237,- |
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Cash in hand and at bank |
823.337,- |
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Total accrued income and prepaid expenses |
1.051.666,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
26.389.826,- |
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Total equity (Shareholders' funds) |
5.767.843,- |
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Issued (subscribed) capital |
9.099.576,- |
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Legal reserves |
99.199,- |
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Profit or loss carried forward |
-12.856.724,- |
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Profit or loss for the previous year |
-1.587.358,- |
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Profit or loss for the financial year |
9.038.949,- |
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Total provisions |
900.724,- |
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Total liabilities |
19.401.055,- |
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Total long-term liabilities |
10.846.250,- |
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Long-term Loans, Mortgage debts |
10.846.250,- |
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Total current liabilities |
8.554.804,- |
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Current accounts payable (trade) |
4.211.934,- |
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Income and social tax liabilities |
2.608.555,- |
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Borrowing ratio |
304,94 % |
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Current ratio |
279,08 % |
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Debt gearing |
170,48 % |
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Profit margin. |
13,91 % |
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Quick ratio |
170,78 % |
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Return on assets |
38,93 % |
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Return on equity. |
142,07 % |
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Solidity or equity ratio |
24,11 % |
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Corporate profit
and loss account for the year: 00 0000 - 31 December 2006 in
EUR |
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Total operating income/revenue |
77.518.453,- |
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Main revenue (sales/turnover) |
73.860.147,- |
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Total operating expenses |
67.243.983,- |
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Cost of materials (type of expenditure format) |
40.217.981,- |
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Personnel costs |
6.982.852,- |
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Depreciation |
844.963,- |
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Operating profit or loss |
10.274.470,- |
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Financial income |
3.087.347,- |
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Financial expenses |
2.535.435,- |
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Result of ordinary operations |
10.826.381,- |
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Extraordinary income |
1.123.158,- |
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Extraordinary expenses |
2.861.841,- |
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Extraordinary result |
-1.738.682,- |
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Pre-tax and pre-appropriation profit or loss |
10.826.381,- |
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Taxes |
48.750,- |
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Net profit or loss |
9.038.949,- |
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Turnover for the period: 00 0000 - 31 December 2005 in
EUR 67.484.620,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate balance
sheet for the year: 00 0000 - 31 December 2005 in EUR |
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Total assets incl. prepaid expenses and accrued income |
29.229.379,- |
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Total fixed assets |
2.805.871,- |
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Total intangible fixed assets |
214.552,- |
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Concessions and industrial rights, goodwill |
106.600,- |
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Total tangible fixed assets |
2.044.580,- |
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Land and buildings |
567.203,- |
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Plant, machinery and equipment |
328.740,- |
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Total financial fixed assets |
546.737,- |
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Total Current assets |
26.387.743,- |
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Inventories and work in progress (incl. prepayments) |
10.988.231,- |
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Accounts receivable (trade) |
9.882.640,- |
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Cash in hand and at bank |
3.072.809,- |
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Total accrued income and prepaid expenses |
301.934,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
29.229.379,- |
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Total equity (Shareholders' funds) |
-3.271.105,- |
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Issued (subscribed) capital |
9.099.576,- |
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Legal reserves |
99.199,- |
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Profit or loss carried forward |
-11.269.365,- |
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Profit or loss for the financial year |
-1.587.358,- |
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Total provisions |
24.000,- |
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Total liabilities |
32.437.108,- |
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Total long-term liabilities |
16.948.477,- |
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Long-term Loans, Mortgage debts |
16.948.477,- |
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Total current liabilities |
15.488.629,- |
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Current accounts payable (trade) |
9.995.068,- |
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Income and social tax liabilities |
2.416.745,- |
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Borrowing ratio |
-996,45 % |
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Current ratio |
170,37 % |
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Debt gearing |
-520,65 % |
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Profit margin. |
5,23 % |
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Quick ratio |
99,42 % |
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Return on assets |
12,08 % |
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Return on equity. |
48,76 % |
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Solidity or equity ratio |
-11,14 % |
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Corporate profit
and loss account for the year: 00 0000 - 31 December 2005 in
EUR |
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Total operating income/revenue |
70.143.632,- |
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Main revenue (sales/turnover) |
67.484.620,- |
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Total operating expenses |
66.612.898,- |
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Cost of materials (type of expenditure format) |
37.331.143,- |
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Personnel costs |
8.646.576,- |
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Depreciation |
1.101.632,- |
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Operating profit or loss |
3.530.733,- |
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Financial income |
1.226.947,- |
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Financial expenses |
2.296.803,- |
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Result of ordinary operations |
2.460.877,- |
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Extraordinary income |
2.958.021,- |
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Extraordinary expenses |
6.976.257,- |
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Extraordinary result |
-4.018.236,- |
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Pre-tax and pre-appropriation profit or loss |
2.460.877,- |
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Taxes |
30.000,- |
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Net profit or loss |
-1.587.358,- |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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%)