MIRA
INFORM REPORT
|
Report Date : |
01.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DEMIMPEX - VRP SA |
|
|
|
|
Registered Office : |
100 Rue Arthur Maes Haeren 1130 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
08.03.1991 |
|
|
|
|
Com. Reg. No.: |
443271489 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Cars and Small Delivery Vans (= 3,5 ton) |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
(€) 1,950,000 |
|
|
|
|
Status : |
Very Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company
Summary
|
COMPANY SUMMARY |
|
|
Business Name |
DEMIMPEX - VRP SA |
|
Business Number |
443271489 |
|
Address |
100 RUE ARTHUR MAES HAEREN |
|
Post Code |
1130 |
|
Telephone |
027249090 |
|
Fax Number |
027249060 |
|
Date of Establisment |
08-03-1991 |
|
Number of Employees |
44 |
|
CREDIT
INFORMATION SUMMARY |
||
|
Company Status |
ACTIVE |
|
|
Today's Credit Limit (€) |
1,950,000 |
|
|
Today's Purchase Limit (€) |
37,100,000 |
|
|
Date of Deposit at Registry |
09-06-2008 |
|
|
Date of Last Accounts |
31-12-2007 |
|
|
Turnover |
160,130,628 |
|
|
Results of Ordinary Operations Before Tax |
6,957,619 |
|
|
Networth |
14,631,636 |
|
|
PAST PAYMENTS |
|
|
Payment Expectation Days |
45.86 |
|
Days Sales Outstanding |
44.39 |
|
Industry Average Payment Expectation Days |
47.89 |
|
Industry Average Day Sales Outstanding |
50.07 |
|
COURT DATA
SUMMARY |
|
|
bankruptcy
details |
|
|
Court Action Type |
None |
|
Protested
Bills |
|
|
Bill Amount |
|
|
NSSO
Details |
|
|
Date of Summons |
-- |
Company
Information
|
COMPANY DETAILS |
|
|
Business Number |
443271489 |
|
Name |
DEMIMPEX - VRP SA |
|
Fax Number |
027249060 |
|
Establishment Date |
08-03-1991 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Wholesale of cars and small delivery vans (= 3,5 ton) |
|
Activity Code |
45111 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
LATEST BRANCH
DETAILS |
|
|
Street |
AVENUE EDMOND CANDRIES |
|
House Number |
15 |
|
City |
MOLENBEEK-SAINT-JEAN |
|
Postal Code |
1080 |
|
Trade Registered Number |
543067 |
|
Trade Registered Entry Date |
01-04-1991 |
|
CONTRACTOR
DETAILS |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
LATEST EVENT |
|
|
Serial Number |
92517 |
|
Event Description |
Appointment |
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|
|
Accounts
& Ratio
|
PERIOD |
|||||
|
Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
|
Weeks |
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
PROFIT &
LOSS |
|||||
|
Turnover |
160,130,628 |
8.0% |
148,251,183 |
28.0% |
115,851,000 |
|
Total Operating Expenses |
152,705,958 |
6.3% |
143,696,348 |
28.4% |
111,916,000 |
|
Operating Result |
7,424,670 |
63.0% |
4,554,835 |
15.8% |
3,935,000 |
|
Total Financial Income |
6,191,044 |
95.9% |
3,160,279 |
-2.8% |
3,252,000 |
|
Total Financial Expenses |
6,658,095 |
73.8% |
3,830,923 |
-16.5% |
4,590,000 |
|
Results on Ordinary Operations Before Tax |
6,957,619 |
79.1% |
3,884,191 |
49.6% |
2,597,000 |
|
Taxation |
2,180,613 |
71.9% |
1,268,458 |
36.7% |
928,000 |
|
Results on Ordinary Operations After Tax |
4,777,006 |
82.6% |
2,615,733 |
56.7% |
1,669,000 |
|
Extraordinary Items |
-278,571 |
- |
0 |
- |
0 |
|
Net Result |
4,498,435 |
72.0% |
2,615,733 |
56.7% |
1,669,000 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
2,414,366 |
15.2% |
2,095,826 |
0.3% |
2,090,000 |
|
- Wages & Salaries |
1,813,541 |
11.9% |
1,620,398 |
1.4% |
1,598,000 |
|
- Social Security Contributions |
518,967 |
16.5% |
445,322 |
2.4% |
435,000 |
|
- Other Employee Costs |
81,858 |
171.9% |
30,106 |
-47.2% |
57,000 |
|
Amortization & Depreciation |
202,989 |
42.3% |
142,617 |
-8.6% |
156,000 |
|
BALANCE SHEET |
|||||
|
Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
156,338 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
378,332 |
6.3% |
355,795 |
-19.0% |
439,000 |
|
- Land And Buildings |
0 |
- |
0 |
- |
0 |
|
- Plant And Machinery |
34,497 |
-7.8% |
37,424 |
-4.0% |
39,000 |
|
- Other Tangible Assets |
343,835 |
8.0% |
318,371 |
-20.4% |
400,000 |
|
Financial Fixed Assets |
922 |
-100.0% |
2,333,090 |
-34.8% |
3,576,000 |
|
Total Fixed Assets |
535,592 |
-80.1% |
2,688,885 |
-33.0% |
4,015,000 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
29,387,461 |
29.0% |
22,785,160 |
61.4% |
14,120,000 |
|
Trade Debtors |
19,475,803 |
22.3% |
15,923,390 |
-28.0% |
22,128,000 |
|
Cash |
395,362 |
-75.8% |
1,636,171 |
171.8% |
602,000 |
|
- Miscellaneous Current Assets |
9,995,030 |
1,798.8% |
526,397 |
-14.7% |
617,000 |
|
Total Current Assets |
59,253,656 |
45.0% |
40,871,118 |
9.1% |
37,467,000 |
|
|
|||||
|
- Trade Creditors |
19,187,333 |
-5.3% |
20,259,328 |
-1.5% |
20,559,000 |
|
- Short Term Group Loans |
144,341 |
- |
0 |
- |
0 |
|
- Other Short Term Loans |
34,744,658 |
183.6% |
12,251,526 |
-4.2% |
12,783,000 |
|
- Miscellaneous Current Liabilities |
-9,161,105 |
-6,907.3% |
134,577 |
-53.3% |
288,000 |
|
Total Current Liabilities |
44,915,227 |
37.6% |
32,645,431 |
-2.9% |
33,630,000 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
81,454 |
109.6% |
38,862 |
-22.3% |
50,000 |
|
- Other Long Term Liabilities |
4,593 |
-99.2% |
586,171 |
357.9% |
128,000 |
|
Total Long Term Debts |
86,047 |
-86.2% |
625,033 |
251.1% |
178,000 |
|
|
|||||
|
- Issued Share Capital |
750,000 |
0.0% |
750,000 |
0.0% |
750,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
14,037,974 |
47.2% |
9,539,539 |
37.8% |
6,924,000 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
14,787,974 |
43.7% |
10,289,539 |
34.1% |
7,674,000 |
|
|
|||||
|
Working Capital |
14,338,429 |
74.3% |
8,225,687 |
114.4% |
3,837,000 |
|
Net Worth |
14,631,636 |
42.2% |
10,289,539 |
34.1% |
7,674,000 |
|
RATIO ANALYSIS |
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|
Trading Performance |
|||||
|
Pre-tax Profit Margin |
4.34 |
65.6% |
2.62 |
17.0% |
2.24 |
|
Return On Capital Employed |
46.78 |
31.4% |
35.59 |
7.6% |
33.07 |
|
Return On Total Assets Employed |
11.64 |
30.5% |
8.92 |
42.5% |
6.26 |
|
Return On Net Assets Employed |
48.52 |
2.8% |
47.22 |
-30.2% |
67.68 |
|
Sales / Net Working Capital |
11.17 |
-38.0% |
18.02 |
-40.3% |
30.19 |
|
Operating Efficiency |
|||||
|
Stock Turnover Ratio |
18.35 |
19.4% |
15.37 |
26.1% |
12.19 |
|
Debtor Days |
44.39 |
13.2% |
39.20 |
-43.8% |
69.72 |
|
Creditor Days |
45.86 |
-10.9% |
51.46 |
-23.3% |
67.05 |
|
Short Term Stability |
|||||
|
Current Ratio |
1.32 |
5.6% |
1.25 |
12.6% |
1.11 |
|
Liquidity Ratio / Acid Ratio |
0.66 |
20.0% |
0.55 |
-20.3% |
0.69 |
|
Current Debt Ratio |
3.04 |
-4.1% |
3.17 |
-27.6% |
4.38 |
|
Long Term Stability |
|||||
|
Gearing |
236.48 |
98.0% |
119.45 |
-28.6% |
167.23 |
|
Equity In Percentage |
0.25 |
4.2% |
0.24 |
33.3% |
0.18 |
|
Total Debt Ratio |
2.36 |
98.3% |
1.19 |
-28.7% |
1.67 |
Payment
Expectations
|
PAYMENT EXPECTATIONS |
|
|
Payment Expectation Days |
45.86 |
|
Day Sales Outstanding |
44.39 |
|
Industry Comparison |
|
|
Activity Code |
4511 |
|
Activity Description |
Sale of cars and light motor vehicles |
|
Industry Average Day Sales Outstanding |
50.07 |
|
Industry Average Payment Expectation Days |
47.89 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
9.54 |
|
Payment Expectations - Median |
21.37 |
|
Payment Expectations - Upper |
51.42 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
9.06 |
|
Day Sales Outstanding - Median |
25.13 |
|
Day Sales Outstanding - Upper |
54.77 |
Shareholders
|
HOLDING COMPANY |
|
|
Company Name |
SOCIETE DE DISTRIBUTION AFRICAINE SA |
|
Business Number |
432191517 |
|
Share Percentage |
17.18 |
|
Annual Accounts Date |
01-12-2007 |
|
No subsidaries for this company. |
Court
Data
|
PROTESTED BILLS |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
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City of Drawer |
-- |
|
NSSO DETAILS |
|
|
Business Number |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
Company Director |
|
|
FullName |
PHILIPPE CHARLES DE MOERLOOSE |
|
Position |
Managing director |
|
Address |
89 AVENUE DE LA JUSTICE KINSHASA |
|
Postal Code |
0 |
|
Country |
Congo |
|
Company Director |
|
|
FullName |
LILIANE SEGHERS |
|
Position |
Director |
|
Address |
25 VENELLE GRAND BON DIEU DU TOUR WAVRE |
|
Postal Code |
1300 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
CHRISTINE SIMON |
|
Position |
Director |
|
Address |
10 ALLEE DE LA CHENERAIE WAVRE |
|
Postal Code |
1300 |
|
Country |
-- |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.09 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.63.48 |
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%)