MIRA INFORM REPORT

 

 

Report Date :

14.02.2008

 

IDENTIFICATION DETAILS

 

Name :

SOFRUCE SAS

 

 

Registered Office :

135 Avenue Georges Caustier, 66000 Perpignan

 

 

Country :

France

 

 

Financials (as on) :

30.09.2007

 

 

Date of Incorporation :

01.12.1982

 

 

Com. Reg. No.:

82B00447, PERPIGNAN

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Agents involved in the sale of food, beverages andtobacco

 

 

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 150000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

COMPANY NAME & ADDRESS

 

SOFRUCE

135 AVENUE GEORGES CAUSTIER

66000 PERPIGNAN FR

Tel. Number +33-4-68852985

 

Business founded

01 December 1982

Business registered

02 December 1982 - Public limited company (no information regarding quotation)

Registration number,

82B00447, PERPIGNAN,

Trade name,

SOFRUCE,

party identification,

325885879,

Legal form

Public limited company (no information regarding quotation)

Activities

Agents involved in the sale of food, beverages andtobacco

Payment experience

Payment regular

Credit opinion

Normal creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The exportvolume in percentage of total sales for the company.  42,54

 

Financial structure (balance sheet analysis) : Balanced 

 

Cash situation (balance sheet analysis) : Weak 

 

Profitability (balance sheet analysis) : Low 

 

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

 

Payment defaults : None 

Employees (Business)

 42

Total number of shareholders

 7

Total share capital30 September 2007

EUR 54000

Bank

BANCO POPULAR FRANCE BP BNP AG VAUBAN 66 PERPIGNAN   

Boardmembers

CEBRIAN ANGEL   President

(Part-) Owner

MR CEBRIAN ANGEL   44,44 %   

 

MME PASTOR MARIE THERESE   19,11 %   

 

MR CEBRIAN MICHEL   13,11 %   

 

MR CEBRIAN GREGORY   13,11 %   

 

MR XECH ELIE   9,78 %   

 

MME CEBRIAN ELISABETH   0,22 %   

 

MELLE PASTOR ANNABELLE   0,22 %   

Affiliate. A company which is affiliated with the Business.

419662507   TERRES CATALANES   1,27 %   

 

 

 

 

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

 

Turnover for the period: 00 0000 - 30 September 2007  in  EUR 65.695.646,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 September 2007  in  EUR 

Total assets incl. prepaid expenses and accrued income

5.983.877,-

Total fixed assets

758.383,-

Total intangible fixed assets

132.126,-

Concessions and industrial rights, goodwill

33.949,-

Total tangible fixed assets

610.104,-

Plant, machinery and equipment

45.489,-

Total financial fixed assets

16.153,-

Loans, shares and participations

9.751,-

Total Current assets

5.225.493,-

Inventories and work in progress (incl. prepayments)

7.677,-

Accounts receivable (trade)

3.949.004,-

Cash in hand and at bank

206.357,-

Total accrued income and prepaid expenses

181.989,-

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

5.983.877,-

Total equity (Shareholders' funds)

2.631.839,-

Issued (subscribed) capital

54.000,-

Share premium account (capital reserve)

95.448,-

Statutory reserves

1.349.371,-

Legal reserves

11.378,-

Profit or loss for the previous year

841.866,-

Profit or loss for the financial year

1.121.641,-

Total liabilities

3.352.038,-

Total long-term liabilities

1.979,-

Long-term liabilities to credit institutions

1.979,-

Total current liabilities

3.350.059,-

Current accounts payable (trade)

2.744.139,-

Income and social tax liabilities

555.329,-

Borrowing ratio

127,36 %

Current ratio

155,98 %

Debt gearing

0,08 %

Profit margin.

2,88 %

Quick ratio

155,75 %

Return on assets

31,58 %

Return on equity.

42,62 %

Solidity or equity ratio

43,98 %

 

Corporate profit and loss account for the year: 00 0000 - 30 September 2007  in  EUR 

Total operating income/revenue

68.336.130,-

Main revenue (sales/turnover)

65.695.646,-

Total operating expenses

66.446.699,-

Cost of materials (type of expenditure format)

55.021.480,-

Personnel costs

2.033.601,-

Depreciation

173.980,-

Operating profit or loss

1.889.431,-

Financial income

19.349,-

Financial expenses

58.581,-

Result of ordinary operations

1.850.199,-

Extraordinary income

46.091,-

Extraordinary expenses

145.724,-

Extraordinary result

-99.633,-

Pre-tax and pre-appropriation profit or loss

1.850.199,-

Taxes

628.925,-

Net profit or loss

1.121.641,-

 

Turnover for the period: 00 0000 - 30 September 2006  in  EUR 61.851.990,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 September 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

5.153.650,-

Total fixed assets

835.314,-

Total intangible fixed assets

98.177,-

Total tangible fixed assets

714.685,-

Plant, machinery and equipment

33.641,-

Total financial fixed assets

22.451,-

Loans, shares and participations

14.945,-

Total Current assets

4.318.336,-

Inventories and work in progress (incl. prepayments)

79.371,-

Accounts receivable (trade)

2.388.410,-

Investments (short-term)

600.000,-

Cash in hand and at bank

577.472,-

Total accrued income and prepaid expenses

20.624,-

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

5.153.650,-

Total equity (Shareholders' funds)

2.230.198,-

Issued (subscribed) capital

54.000,-

Share premium account (capital reserve)

95.448,-

Statutory reserves

1.227.505,-

Legal reserves

11.378,-

Profit or loss for the previous year

980.051,-

Profit or loss for the financial year

841.866,-

Total liabilities

2.923.453,-

Total long-term liabilities

50.094,-

Long-term liabilities to credit institutions

50.094,-

Total current liabilities

2.873.359,-

Current accounts payable (trade)

2.426.641,-

Income and social tax liabilities

434.213,-

Borrowing ratio

131,08 %

Current ratio

150,29 %

Debt gearing

2,25 %

Profit margin.

2,43 %

Quick ratio

147,53 %

Return on assets

29,18 %

Return on equity.

37,75 %

Solidity or equity ratio

43,27 %

 

Corporate profit and loss account for the year: 00 0000 - 30 September 2006  in  EUR 

Total operating income/revenue

64.009.233,-

Main revenue (sales/turnover)

61.851.990,-

Total operating expenses

62.505.628,-

Cost of materials (type of expenditure format)

52.067.762,-

Personnel costs

1.846.055,-

Depreciation

181.159,-

Operating profit or loss

1.503.605,-

Financial income

13.240,-

Financial expenses

45.000,-

Result of ordinary operations

1.471.845,-

Extraordinary income

51.375,-

Extraordinary expenses

199.547,-

Extraordinary result

-148.173,-

Pre-tax and pre-appropriation profit or loss

1.471.846,-

Taxes

481.807,-

Net profit or loss

841.866,-

 

Turnover for the period: 00 0000 - 30 September 2005  in  EUR 65.630.211,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 September 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

4.305.175,-

Total fixed assets

915.762,-

Total intangible fixed assets

98.177,-

Total tangible fixed assets

803.807,-

Plant, machinery and equipment

39.627,-

Total financial fixed assets

13.779,-

Loans, shares and participations

11.492,-

Total Current assets

3.389.412,-

Inventories and work in progress (incl. prepayments)

4.941,-

Accounts receivable (trade)

2.192.882,-

Investments (short-term)

250.000,-

Cash in hand and at bank

431.273,-

Total accrued income and prepaid expenses

14.015,-

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

4.305.175,-

Total equity (Shareholders' funds)

2.108.331,-

Issued (subscribed) capital

54.000,-

Share premium account (capital reserve)

95.448,-

Statutory reserves

967.454,-

Legal reserves

11.378,-

Profit or loss for the financial year

980.051,-

Total liabilities

2.196.843,-

Total long-term liabilities

120.400,-

Long-term liabilities to credit institutions

120.400,-

Total current liabilities

2.076.443,-

Current accounts payable (trade)

1.607.579,-

Income and social tax liabilities

384.788,-

Borrowing ratio

104,20 %

Current ratio

163,23 %

Debt gearing

5,71 %

Profit margin.

2,75 %

Quick ratio

162,99 %

Return on assets

41,94 %

Return on equity.

46,48 %

Solidity or equity ratio

48,97 %

 

Corporate profit and loss account for the year: 00 0000 - 30 September 2005  in  EUR 

Total operating income/revenue

67.883.849,-

Main revenue (sales/turnover)

65.630.211,-

Total operating expenses

66.078.424,-

Cost of materials (type of expenditure format)

55.390.973,-

Personnel costs

1.572.636,-

Depreciation

169.839,-

Operating profit or loss

1.805.425,-

Financial income

1.117,-

Financial expenses

51.514,-

Result of ordinary operations

1.755.028,-

Extraordinary income

61.182,-

Extraordinary expenses

286.914,-

Extraordinary result

-225.732,-

Pre-tax and pre-appropriation profit or loss

1.755.028,-

Taxes

549.245,-

Net profit or loss

980.051,-

 

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