MIRA INFORM REPORT

 

 

Report Date :

09.02.2008

 

IDENTIFICATION DETAILS

 

Name :

PANEMEX SAS

 

 

Registered Office :

Lieu-Dit Moulin Mocsouris  56220 Caden

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

01.02.1985

 

 

Com. Reg. No.:

85B00072, Vannes

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture of Grain Mill Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

EUR 35000

 

 

Status :

Small Company

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

NAME & ADDRESS

 

PANEMEX SAS

LIEU-DIT MOULIN MOCSOURIS

56220 CADEN FR

Tel. Number +33-2-97662054

 

 

 

Business founded

01 February 1985

Business registered

15 May 1985 - Public limited company (no information regarding quotation)

Registration number,

85B00072, VANNES,

party identification,

332483833,

Legal form

Public limited company (no information regarding quotation)

Activities

Manufacture of grain mill products

Payment experience

Payment regular

Credit opinion

Normal creditworthiness

 

Maximum credit limit 35000 EUR is advised

 

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

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Low 

 

Profitability (balance sheet analysis) : Normal 

 

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

 

Payment defaults : None 

Employees (Business)

 16

Total number of shareholders

 4

Total share capital31 December 2006

EUR 250000

Bank

BPA AG MARCHAIS 56 VANNES CMB 56 MALANSAC   

Board members

ROUSSEL MARC   President

Auditor

KERAMBELLEC YOUENN   Auditor

 

MALLET DENIS   Deputy auditor

(Part-) Owner

MME ROUSSEL ANNIE   

 

MR GUIQUERRO JEAN   

 

MME PAJOLEC ANNE   

 

MR ROUSSEL MARC   

 

 

 

 

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 3.887.809,00

 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

2.041.043,-

Total fixed assets

589.609,-

Total intangible fixed assets

245.654,-

Concessions and industrial rights, goodwill

7.272,-

Total tangible fixed assets

327.083,-

Land and buildings

154.260,-

Plant, machinery and equipment

141.819,-

Total financial fixed assets

16.868,-

Loans, shares and participations

7.010,-

Total Current assets

1.451.433,-

Inventories and work in progress (incl. prepayments)

581.000,-

Accounts receivable (trade)

811.501,-

Cash in hand and at bank

23.392,-

Total accrued income and prepaid expenses

2.921,-

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

2.041.043,-

Total equity (Shareholders' funds)

675.006,-

Issued (subscribed) capital

250.000,-

Share premium account (capital reserve)

133.545,-

Legal reserves

12.784,-

Profit or loss for the previous year

97.616,-

Profit or loss for the financial year

138.035,-

Total liabilities

1.366.036,-

Total long-term liabilities

214.839,-

Long-term Loans, Mortgage debts

14.654,-

Long-term liabilities to credit institutions

200.185,-

Total current liabilities

1.151.195,-

Current accounts payable (trade)

917.400,-

Income and social tax liabilities

233.795,-

Borrowing ratio

202,37 %

Current ratio

126,08 %

Debt gearing

31,83 %

Profit margin.

5,31 %

Quick ratio

75,61 %

Return on assets

10,11 %

Return on equity.

20,45 %

Solidity or equity ratio

33,07 %

 

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

Total operating income/revenue

3.935.753,-

Main revenue (sales/turnover)

3.887.809,-

Total operating expenses

3.729.477,-

Cost of materials (type of expenditure format)

1.997.367,-

Personnel costs

436.034,-

Depreciation

74.532,-

Operating profit or loss

206.275,-

Financial income

1.598,-

Financial expenses

14.625,-

Result of ordinary operations

193.248,-

Extraordinary income

18.598,-

Extraordinary expenses

4.673,-

Extraordinary result

13.925,-

Pre-tax and pre-appropriation profit or loss

193.248,-

Taxes

69.139,-

Net profit or loss

138.035,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 3.135.981,00

 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

1.632.119,-

Total fixed assets

552.348,-

Total intangible fixed assets

240.519,-

Concessions and industrial rights, goodwill

387,-

Total tangible fixed assets

289.818,-

Land and buildings

149.671,-

Plant, machinery and equipment

87.780,-

Total financial fixed assets

22.007,-

Loans, shares and participations

11.318,-

Total Current assets

1.079.771,-

Inventories and work in progress (incl. prepayments)

364.518,-

Accounts receivable (trade)

486.763,-

Cash in hand and at bank

207.073,-

Total accrued income and prepaid expenses

2.452,-

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

1.632.119,-

Total equity (Shareholders' funds)

583.097,-

Issued (subscribed) capital

250.000,-

Share premium account (capital reserve)

133.545,-

Legal reserves

7.903,-

Profit or loss for the previous year

65.094,-

Profit or loss for the financial year

97.616,-

Total liabilities

1.049.022,-

Total long-term liabilities

145.916,-

Long-term Loans, Mortgage debts

14.657,-

Long-term liabilities to credit institutions

131.259,-

Total current liabilities

903.103,-

Current accounts payable (trade)

704.517,-

Income and social tax liabilities

187.683,-

Borrowing ratio

179,91 %

Current ratio

119,56 %

Debt gearing

25,02 %

Profit margin.

4,43 %

Quick ratio

79,20 %

Return on assets

8,52 %

Return on equity.

16,74 %

Solidity or equity ratio

35,73 %

 

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

Total operating income/revenue

3.123.027,-

Main revenue (sales/turnover)

3.135.981,-

Total operating expenses

2.984.026,-

Cost of materials (type of expenditure format)

1.686.384,-

Personnel costs

371.503,-

Depreciation

48.244,-

Operating profit or loss

139.000,-

Financial income

965,-

Financial expenses

7.853,-

Result of ordinary operations

132.113,-

Extraordinary income

9.861,-

Extraordinary expenses

1.056,-

Extraordinary result

8.804,-

Pre-tax and pre-appropriation profit or loss

132.113,-

Taxes

43.301,-

Net profit or loss

97.616,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 2.425.398,00

 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

1.174.892,-

Total fixed assets

486.866,-

Total intangible fixed assets

238.963,-

Concessions and industrial rights, goodwill

581,-

Total tangible fixed assets

215.666,-

Land and buildings

150.708,-

Plant, machinery and equipment

31.782,-

Total financial fixed assets

32.236,-

Loans, shares and participations

21.295,-

Total Current assets

688.025,-

Inventories and work in progress (incl. prepayments)

250.253,-

Accounts receivable (trade)

419.286,-

Cash in hand and at bank

7.119,-

Total accrued income and prepaid expenses

1.777,-

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

1.174.892,-

Total equity (Shareholders' funds)

497.921,-

Issued (subscribed) capital

250.000,-

Share premium account (capital reserve)

133.545,-

Legal reserves

9.386,-

Profit or loss carried forward

-43.041,-

Profit or loss for the financial year

65.094,-

Total liabilities

676.970,-

Total long-term liabilities

131.211,-

Long-term Loans, Mortgage debts

14.657,-

Long-term liabilities to credit institutions

116.554,-

Total current liabilities

545.756,-

Current accounts payable (trade)

406.055,-

Income and social tax liabilities

128.798,-

Borrowing ratio

135,96 %

Current ratio

126,07 %

Debt gearing

26,35 %

Profit margin.

3,54 %

Quick ratio

80,21 %

Return on assets

7,31 %

Return on equity.

13,07 %

Solidity or equity ratio

42,38 %

 

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

Total operating income/revenue

2.473.841,-

Main revenue (sales/turnover)

2.425.398,-

Total operating expenses

2.387.973,-

Cost of materials (type of expenditure format)

1.133.674,-

Personnel costs

327.746,-

Depreciation

42.085,-

Operating profit or loss

85.868,-

Financial income

9.273,-

Financial expenses

11.166,-

Result of ordinary operations

83.976,-

Extraordinary income

4.254,-

Extraordinary expenses

10.641,-

Extraordinary result

-6.387,-

Pre-tax and pre-appropriation profit or loss

83.975,-

Taxes

12.494,-

Net profit or loss

65.094,-

 

 

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