MIRA INFORM REPORT

 

 

Report Date :

31.01.2008

 

IDENTIFICATION DETAILS

 

Name :

CINETIC FILLING

 

 

Registered Office :

17 Rue De La Communaute 44140 Le Bignon 

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

19 September 2002

 

 

Com. Reg. No.:

02B01276, NANTES,

 

 

Legal Form :

Public Limited Company - Board of Administration

 

 

Line of Business :

Manufacture of Industrial Process Control equipment

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 150000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

name & address

 

CINETIC FILLING

 17 RUE DE LA COMMUNAUTE

 44140 LE BIGNON FR

Tel. Number +33-2-40320606

Fax number +33-2-40650488

 

Business founded

19 September 2002

Business registered

19 September 2002 - Public limited company - board of administration

Registration number,

02B01276, NANTES,

party identification,

443343405,

Legal form

Public limited company - board of administration

Activities

Manufacture of industrial process control equipment

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The export volume in percentage of total sales for the company.  58,71

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Good 

 

Commitments (regarding contractual obligations) : Fulfilled („respectés“) 

 

Payment defaults : None 

Employees (Business)

 165

Total number of shareholders

 2

Total share capital31 December 2006

EUR 12037000

Bank

CIO SG AG SUD LOIRE 44 NANTES   

Board members

URING JEAN-CAMILLE   Chairman of the board

 

DAVID DOMINIQUE   Board member

 

RAMET PHILIPPE   Board member

Management

DAVID DOMINIQUE   Managing director

Parent company :

329198519   FIVES CINETIC   

 

 

The business owns or partly owns one or more pieces of land and buildings?  No (Property) 

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 20.122.377,00

 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

20.683.849,-

Total fixed assets

9.463.568,-

Total intangible fixed assets

9.025.318,-

Concessions and industrial rights, goodwill

25.318,-

Total tangible fixed assets

436.691,-

Plant, machinery and equipment

153.514,-

Total financial fixed assets

1.559,-

Total Current assets

11.220.282,-

Inventories and work in progress (incl. prepayments)

1.131.428,-

Accounts receivable (trade)

8.370.055,-

Cash in hand and at bank

1.134.961,-

Total accrued income and prepaid expenses

43.252,-

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

20.683.849,-

Total equity (Shareholders' funds)

13.328.623,-

Issued (subscribed) capital

12.037.000,-

Legal reserves

284.682,-

Profit or loss carried forward

342.308,-

Profit or loss for the previous year

1.551.042,-

Profit or loss for the financial year

664.632,-

Total provisions

1.101.647,-

Total liabilities

6.253.580,-

Total long-term liabilities

816.320,-

Long-term Loans, Mortgage debts

816.320,-

Total current liabilities

5.437.259,-

Current accounts payable (trade)

3.180.567,-

Income and social tax liabilities

2.132.270,-

Borrowing ratio

44,49 %

Current ratio

206,36 %

Debt gearing

5,81 %

Profit margin.

6,06 %

Quick ratio

185,55 %

Return on assets

5,89 %

Return on equity.

4,73 %

Solidity or equity ratio

67,96 %

 

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

Total operating income/revenue

21.680.559,-

Main revenue (sales/turnover)

20.122.377,-

Total operating expenses

20.461.292,-

Cost of materials (type of expenditure format)

1.254.340,-

Personnel costs

5.218.245,-

Depreciation

235.820,-

Operating profit or loss

1.219.266,-

Financial income

55.985,-

Financial expenses

72.725,-

Result of ordinary operations

1.202.526,-

Extraordinary income

25.573,-

Extraordinary expenses

211.160,-

Extraordinary result

-185.587,-

Pre-tax and pre-appropriation profit or loss

1.202.526,-

Taxes

231.907,-

Net profit or loss

664.632,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 26.888.377,00

 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

25.876.414,-

Total fixed assets

9.480.568,-

Total intangible fixed assets

9.035.682,-

Concessions and industrial rights, goodwill

35.682,-

Total tangible fixed assets

429.917,-

Plant, machinery and equipment

137.203,-

Total financial fixed assets

14.968,-

Total Current assets

16.395.846,-

Inventories and work in progress (incl. prepayments)

2.091.551,-

Accounts receivable (trade)

10.381.272,-

Cash in hand and at bank

2.660.205,-

Total accrued income and prepaid expenses

37.063,-

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

25.876.414,-

Total equity (Shareholders' funds)

14.132.504,-

Issued (subscribed) capital

12.037.000,-

Legal reserves

207.130,-

Profit or loss carried forward

337.332,-

Profit or loss for the previous year

2.068.795,-

Profit or loss for the financial year

1.551.042,-

Total provisions

2.229.950,-

Total liabilities

9.513.959,-

Total long-term liabilities

929.749,-

Long-term Loans, Mortgage debts

929.749,-

Total current liabilities

8.555.931,-

Current accounts payable (trade)

5.371.976,-

Income and social tax liabilities

2.123.063,-

Total accrued expenses and deferred income

28.280,-

Borrowing ratio

60,97 %

Current ratio

191,00 %

Debt gearing

5,96 %

Profit margin.

10,37 %

Quick ratio

166,63 %

Return on assets

10,77 %

Return on equity.

9,94 %

Solidity or equity ratio

60,30 %

 

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

Total operating income/revenue

28.974.181,-

Main revenue (sales/turnover)

26.888.377,-

Total operating expenses

26.186.053,-

Personnel costs

5.086.739,-

Depreciation

168.652,-

Operating profit or loss

2.788.127,-

Financial income

68.739,-

Financial expenses

45.500,-

Result of ordinary operations

2.811.366,-

Extraordinary income

19.702,-

Extraordinary expenses

98.585,-

Extraordinary result

-78.882,-

Pre-tax and pre-appropriation profit or loss

2.811.366,-

Taxes

769.565,-

Net profit or loss

1.551.042,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 25.351.947,00

 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

25.861.398,-

Total fixed assets

9.306.153,-

Total intangible fixed assets

9.004.187,-

Concessions and industrial rights, goodwill

4.187,-

Total tangible fixed assets

301.967,-

Plant, machinery and equipment

91.382,-

Total Current assets

16.555.245,-

Inventories and work in progress (incl. prepayments)

2.170.611,-

Accounts receivable (trade)

9.560.908,-

Cash in hand and at bank

4.521.701,-

Total accrued income and prepaid expenses

47.193,-

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

25.861.398,-

Total equity (Shareholders' funds)

14.579.604,-

Issued (subscribed) capital

12.037.000,-

Legal reserves

103.690,-

Profit or loss carried forward

370.118,-

Profit or loss for the financial year

2.068.795,-

Total provisions

2.016.347,-

Total liabilities

9.265.447,-

Total long-term liabilities

830.827,-

Long-term Loans, Mortgage debts

830.827,-

Total current liabilities

8.403.515,-

Current accounts payable (trade)

5.361.101,-

Income and social tax liabilities

2.531.680,-

Total accrued expenses and deferred income

31.106,-

Borrowing ratio

58,24 %

Current ratio

196,28 %

Debt gearing

5,22 %

Profit margin.

16,37 %

Quick ratio

170,54 %

Return on assets

16,05 %

Return on equity.

13,00 %

Solidity or equity ratio

61,52 %

 

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

Total operating income/revenue

27.271.731,-

Main revenue (sales/turnover)

25.351.947,-

Total operating expenses

23.120.891,-

Personnel costs

4.142.022,-

Depreciation

209.377,-

Operating profit or loss

4.150.841,-

Financial income

84.120,-

Financial expenses

108.235,-

Result of ordinary operations

4.126.726,-

Extraordinary income

53.416,-

Extraordinary expenses

46.922,-

Extraordinary result

6.494,-

Pre-tax and pre-appropriation profit or loss

4.126.725,-

Taxes

1.032.924,-

Net profit or loss

2.068.795,-

 

 

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