MIRA INFORM REPORT

 

 

Report Date :

31.01.2008

 

IDENTIFICATION DETAILS

 

Name :

SYSTEME U CENTRALE NATIONALE

 

 

Registered Office :

72 Avenue Robert Schuman  94150 Rungis 

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

25 November 1986

 

 

Com. Reg. No.:

86B00187, Creteil

 

 

Legal Form :

Public Cooperative Society

 

 

Line of Business :

Agents involved in the Sale of a Variety of Goods

 

 

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

 

SYSTEME U CENTRALE NATIONALE

 72 AVENUE ROBERT SCHUMAN

 94150 RUNGIS FR

1 Rue Thomas Edision, 94000 Creteil (Former head office address)

 

 

Business founded

00 1922

Business registered

25 November 1986 - Public cooperative society

Registration number,

86B00187, CRETEIL,

Trade name,

SYSTEME U,

party identification,

304602956,

Legal form

Public cooperative society

Activities

Agents involved in the sale of a variety of goods

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The exportvolume in percentage of total sales for the company.  0,00

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Feeble 

 

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

 

Payment defaults : None 

Employees (Business)

 391

Total number of shareholders

 5

Total share capital31 December 2006

EUR 77000

Branch office(s)

4 AVENUE DES MARRONNIERS,94380 BONNEUIL SUR MARNE   

 

43 RUE EUGENE DUCRETET,68200 MULHOUSE   

 

LE MOULIN BOISSEAU,44470 CARQUEFOU   

 

PLACE DES PLEIADES,44470 CARQUEFOU   

 

LES CHAMPS RAY,85500 LES HERBIERS   

 

   Others

Bank

BNP - BFCC - SG 94 CRETEIL   

Boardmembers

PAPIN SERGE   Chairman of the board

 

FLANC MICHEL   Boardmember

 

BARRE JEAN LOUIS   Boardmember

 

CARON STEPHANE   Boardmember

 

GOURNAY DANIEL   Boardmember

 

SOULARD JEAN CAUDE   Boardmember

 

PETITPAS YVES   Boardmember

 

PROU MARC   Boardmember

 

BESSUEILLE PATRICK   Boardmember

 

MOREAU JACQUES   Boardmember

 

PAPIN SERGE   Boardmember

 

DELPERIE MURIEL   Boardmember

 

BOUTREUX PHILIPPE   Boardmember

 

TISCHMACHER GEORGES   Boardmember

 

HADJADJ SERGE   Boardmember

 

BUR GERARD   Boardmember

 

MAUCOURT PATRICK   Boardmember

Management

PAPIN SERGE   Managing director

(Part-) Owner

ADMINISTRATEURS DE CENTRALES REGIONALES   36,86 %   

 

867800427   SYSTEME U CENTRALE REGIONALE OUEST SYSTEME U OUEST   20,24 %   

 

306020140   SYSTEME U CENTRALE REGIONALE SUD   19,64 %   

 

946051018   SYSTEME U CENTRALE REGIONALE EST   19,33 %   

 

313042251   SYSTEME U CENTRALE REGIONALE NORD OUEST SYSTEME U NORD OUEST   3,93 %   

Subsidiary company.

313925695   SOCIETE CIVILE DE SAINT BRES   100,00 %   

Associate company.

EUROPEAN MARKETING DISTRIBUTION SUISSE   20,00 %   

 

 

 

 

 

 

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 627.329.000,00

 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

522.276.000,-

Total fixed assets

13.749.000,-

Total intangible fixed assets

3.610.000,-

Concessions and industrial rights, goodwill

3.610.000,-

Total tangible fixed assets

9.671.000,-

Land and buildings

5.639.000,-

Total financial fixed assets

468.000,-

Loans, shares and participations

125.000,-

Total Current assets

508.360.000,-

Inventories and work in progress (incl. prepayments)

44.145.000,-

Accounts receivable (trade)

345.533.000,-

Cash in hand and at bank

27.235.000,-

Total accrued income and prepaid expenses

4.538.000,-

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

522.276.000,-

Total equity (Shareholders' funds)

7.269.000,-

Issued (subscribed) capital

77.000,-

Legal reserves

11.000,-

Profit or loss carried forward

2.275.000,-

Profit or loss for the previous year

58.000,-

Profit or loss for the financial year

62.000,-

Total provisions

4.867.000,-

Total liabilities

510.019.000,-

Total long-term liabilities

6.858.000,-

Long-term Loans, Mortgage debts

6.858.000,-

Total current liabilities

503.040.000,-

Current accounts payable (trade)

368.859.000,-

Income and social tax liabilities

59.510.000,-

Total accrued expenses and deferred income

121.000,-

Borrowing ratio

4866,03 %

Current ratio

101,03 %

Debt gearing

65,43 %

Profit margin.

0,03 %

Quick ratio

92,26 %

Return on assets

0,04 %

Return on equity.

0,59 %

Solidity or equity ratio

2,01 %

 

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

Total operating income/revenue

630.252.000,-

Main revenue (sales/turnover)

627.329.000,-

Total operating expenses

630.041.000,-

Cost of materials (type of expenditure format)

347.000.000,-

Personnel costs

18.060.000,-

Depreciation

3.851.000,-

Operating profit or loss

213.000,-

Financial income

1.983.000,-

Financial expenses

1.927.000,-

Result of ordinary operations

269.000,-

Extraordinary income

411.000,-

Extraordinary expenses

357.000,-

Extraordinary result

54.000,-

Pre-tax and pre-appropriation profit or loss

268.000,-

Taxes

238.000,-

Net profit or loss

62.000,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 598.164.000,00

 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

400.155.000,-

Total fixed assets

14.109.000,-

Total intangible fixed assets

3.730.000,-

Concessions and industrial rights, goodwill

3.730.000,-

Total tangible fixed assets

10.013.000,-

Land and buildings

6.016.000,-

Plant, machinery and equipment

3.997.000,-

Total financial fixed assets

367.000,-

Loans, shares and participations

45.000,-

Total Current assets

385.551.000,-

Inventories and work in progress (incl. prepayments)

41.254.000,-

Accounts receivable (trade)

265.560.000,-

Cash in hand and at bank

37.009.000,-

Total accrued income and prepaid expenses

3.491.000,-

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

400.155.000,-

Total equity (Shareholders' funds)

7.207.000,-

Issued (subscribed) capital

78.000,-

Legal reserves

11.000,-

Profit or loss carried forward

2.217.000,-

Profit or loss for the previous year

3.794.000,-

Profit or loss for the financial year

58.000,-

Total provisions

4.623.000,-

Total liabilities

388.193.000,-

Total long-term liabilities

7.512.000,-

Long-term Loans, Mortgage debts

7.512.000,-

Total current liabilities

380.462.000,-

Current accounts payable (trade)

244.989.000,-

Income and social tax liabilities

38.811.000,-

Total accrued expenses and deferred income

219.000,-

Borrowing ratio

3784,23 %

Current ratio

101,28 %

Debt gearing

73,23 %

Profit margin.

0,59 %

Quick ratio

90,44 %

Return on assets

0,88 %

Return on equity.

0,57 %

Solidity or equity ratio

2,56 %

 

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

Total operating income/revenue

598.913.000,-

Main revenue (sales/turnover)

598.164.000,-

Total operating expenses

595.397.000,-

Cost of materials (type of expenditure format)

324.919.000,-

Personnel costs

17.100.000,-

Depreciation

3.176.000,-

Operating profit or loss

3.516.000,-

Financial income

1.238.000,-

Financial expenses

1.304.000,-

Result of ordinary operations

3.451.000,-

Extraordinary income

199.000,-

Extraordinary expenses

467.000,-

Extraordinary result

-268.000,-

Pre-tax and pre-appropriation profit or loss

3.451.000,-

Taxes

2.326.000,-

Net profit or loss

58.000,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 348.565.000,00

 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

348.367.000,-

Total fixed assets

14.766.000,-

Total intangible fixed assets

4.494.000,-

Concessions and industrial rights, goodwill

4.494.000,-

Total tangible fixed assets

9.945.000,-

Land and buildings

6.302.000,-

Plant, machinery and equipment

3.643.000,-

Total financial fixed assets

327.000,-

Loans, shares and participations

45.000,-

Total Current assets

333.217.000,-

Inventories and work in progress (incl. prepayments)

27.479.000,-

Accounts receivable (trade)

232.359.000,-

Cash in hand and at bank

36.873.000,-

Total accrued income and prepaid expenses

5.934.000,-

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

348.367.000,-

Total equity (Shareholders' funds)

8.424.000,-

Issued (subscribed) capital

51.000,-

Legal reserves

10.000,-

Profit or loss carried forward

-275.000,-

Profit or loss for the financial year

3.794.000,-

Total provisions

2.997.000,-

Total liabilities

336.063.000,-

Total long-term liabilities

8.124.000,-

Long-term Loans, Mortgage debts

8.124.000,-

Total current liabilities

327.823.000,-

Current accounts payable (trade)

208.969.000,-

Income and social tax liabilities

36.512.000,-

Total accrued expenses and deferred income

116.000,-

Borrowing ratio

3230,75 %

Current ratio

101,61 %

Debt gearing

78,10 %

Profit margin.

1,81 %

Quick ratio

93,23 %

Return on assets

1,81 %

Return on equity.

36,47 %

Solidity or equity ratio

2,99 %

 

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

Total operating income/revenue

347.241.000,-

Main revenue (sales/turnover)

348.565.000,-

Total operating expenses

340.946.000,-

Cost of materials (type of expenditure format)

111.019.000,-

Personnel costs

13.962.000,-

Depreciation

2.578.000,-

Operating profit or loss

6.295.000,-

Financial income

305.000,-

Financial expenses

1.389.000,-

Result of ordinary operations

5.211.000,-

Extraordinary income

58.000,-

Extraordinary expenses

508.000,-

Extraordinary result

-450.000,-

Pre-tax and pre-appropriation profit or loss

5.211.000,-

Taxes

749.000,-

Net profit or loss

3.794.000,-

 

 

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