MIRA INFORM REPORT

 

 

 

Report Date :

14.07.2008

 

IDENTIFICATION DETAILS

 

Name :

LANXESS EMULSION RUBBER

 

 

Registered Office :

Rue Du Ried 67610 La Wantzenau

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

04.11.2004

 

 

Com. Reg. No.:

05B00153, STRASBOURG

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture of Synthetic Rubber in Primary Forms

 

 

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

 

LANXESS EMULSION RUBBER

 RUE DU RIED

 67610 LA WANTZENAU FR

Tel. Number +33-3-88592000

Fax number +33-3-88592059

 

 

 

Business founded

04 November 2004

Business registered

05 November 2004 - Public limited company (no information regarding quotation)

Registration number,

05B00153, STRASBOURG,

party identification,

479372377,

Legal form

Public limited company (no information regarding quotation)

Activities

Manufacture of synthetic rubber in primary forms

Payment experience

Payment regular

Credit opinion

Credit opinion

 

Maximum credit limit 150000 EUR is advised

 

The exportvolume in percentage of total sales for the company.  83,63

 

Financial structure (balance sheet analysis) : Balanced 

 

Cash situation (balance sheet analysis) : Weak 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Fulfilled to date 

 

Payment defaults : None 

Employees (Business)

 400

Total number of shareholders

 1

Total share capital31 December 2006

EUR 19103500

Bank

SG 92 LA DEFENSE, BP NATEXIS SIEGE PARIS   

Boardmembers

WESTEPPE UWE   President

Auditor

NICOLAS YVES   Deputy auditor

Parent company :

319806048   LANXESS ELASTOMERES   100,00 %   

 

 

 

 

 

 

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 166.216.550,00

 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

86.335.680,-

Total fixed assets

33.231.115,-

Total intangible fixed assets

6.181.296,-

Concessions and industrial rights, goodwill

3.791.296,-

Total tangible fixed assets

27.038.739,-

Land and buildings

4.371.402,-

Plant, machinery and equipment

18.660.935,-

Total financial fixed assets

11.080,-

Total Current assets

53.104.565,-

Inventories and work in progress (incl. prepayments)

23.422.214,-

Accounts receivable (trade)

26.093.863,-

Cash in hand and at bank

3.257,-

Total accrued income and prepaid expenses

24.070,-

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

86.335.680,-

Total equity (Shareholders' funds)

23.864.869,-

Issued (subscribed) capital

19.103.500,-

Share premium account (capital reserve)

19.066.500,-

Profit or loss carried forward

-16.060.173,-

Profit or loss for the previous year

-16.060.173,-

Profit or loss for the financial year

1.755.043,-

Total provisions

1.215.834,-

Total liabilities

61.254.977,-

Total long-term liabilities

25.012.975,-

Long-term Loans, Mortgage debts

25.012.975,-

Total current liabilities

34.531.973,-

Current accounts payable (trade)

21.014.498,-

Income and social tax liabilities

7.336.184,-

Total accrued expenses and deferred income

1.710.029,-

Borrowing ratio

248,32 %

Current ratio

146,53 %

Debt gearing

101,40 %

Profit margin.

0,74 %

Quick ratio

81,90 %

Return on assets

1,43 %

Return on equity.

7,11 %

Solidity or equity ratio

28,57 %

 

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

Total operating income/revenue

176.695.290,-

Main revenue (sales/turnover)

166.216.550,-

Total operating expenses

175.464.208,-

Personnel costs

24.622.672,-

Depreciation

4.004.386,-

Operating profit or loss

1.231.082,-

Financial income

3.831,-

Financial expenses

880.879,-

Result of ordinary operations

354.034,-

Extraordinary income

1.738.345,-

Extraordinary expenses

337.336,-

Extraordinary result

1.401.009,-

Pre-tax and pre-appropriation profit or loss

354.034,-

Net profit or loss

1.755.043,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 153.101.990,00

 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

84.663.403,-

Total fixed assets

32.200.520,-

Total intangible fixed assets

6.162.557,-

Concessions and industrial rights, goodwill

3.772.557,-

Total tangible fixed assets

25.988.601,-

Land and buildings

3.553.226,-

Plant, machinery and equipment

14.387.034,-

Total financial fixed assets

49.360,-

Loans, shares and participations

24.958,-

Total Current assets

52.462.883,-

Inventories and work in progress (incl. prepayments)

27.450.572,-

Accounts receivable (trade)

20.403.079,-

Cash in hand and at bank

12.003,-

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

84.663.403,-

Total equity (Shareholders' funds)

22.109.826,-

Issued (subscribed) capital

19.103.500,-

Share premium account (capital reserve)

19.066.500,-

Profit or loss for the financial year

-16.060.173,-

Total provisions

14.732.402,-

Total liabilities

47.821.174,-

Total long-term liabilities

7.928.874,-

Long-term Loans, Mortgage debts

7.915.829,-

Long-term liabilities to credit institutions

13.045,-

Total current liabilities

37.109.940,-

Current accounts payable (trade)

21.650.928,-

Income and social tax liabilities

9.456.732,-

Total accrued expenses and deferred income

2.782.359,-

Borrowing ratio

150,22 %

Current ratio

131,51 %

Debt gearing

24,91 %

Profit margin.

-9,79 %

Quick ratio

62,70 %

Return on assets

-17,71 %

Return on equity.

-50,45 %

Solidity or equity ratio

37,60 %

 

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

Total operating income/revenue

153.048.728,-

Main revenue (sales/turnover)

153.101.990,-

Total operating expenses

168.041.725,-

Personnel costs

29.708.863,-

Depreciation

4.130.271,-

Operating profit or loss

-14.992.994,-

Financial income

122.601,-

Financial expenses

21.363,-

Result of ordinary operations

-14.891.756,-

Extraordinary income

15.040,-

Extraordinary expenses

1.183.457,-

Extraordinary result

-1.168.417,-

Pre-tax and pre-appropriation profit or loss

-14.891.756,-

Net profit or loss

-16.060.173,-

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.82

UK Pound

1

Rs.84.89

Euro

1

Rs.68.07

 

 

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