MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARCELORMITTAL-STAINLESS BELGIUM NV |
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Registered Office : |
IJzerlaan 24 3600 Brussel |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
10.03.1961 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Casting and Processing of Stainless Steel and Fire-Proof Steel;
Warm and Cold Milling of Sheets, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
Arcelormittal-Stainless
Belgium Nv
IJzerlaan 24
3600 BRUSSEL
Tel.:+32
(0)2-7364057
Fax.:+32
(0)89-302380
Legal
status
NV Public limited company
[nat. law]
Founded
10/03/1961, P.l.c. since
01/09/1970
Trade
register
65041051
Capital
Nominal EUR 278.040.530,--
Issued and paid up EUR 206.789.086,--
Management
-Jean-Yves Gilet,
France
-Cedric Orban, Louis
Lepoutre 72/5e, 1050 Brussel 5
-Jos Steegmans,
Mombeekdreef 30, 3500 Hasselt
-Gerard Picard, France
-Jean Paul Rouffiac,
France
Activity
Casting and
processing of stainless steel and
fire-proof steel;
warm and cold milling of
sheets, etc.
Branch[es]:
-Arcelormittal-Stainless Belgium NV,
Swinnenwijerweg 5
Ind. Genk-Zuid Zone 6A, 3600 GENK
-Arcelormittal-Stainless
Belgium NV,
Bosdel 87 - Genk
Zuid - zone 5 , 3600 GENK
Staff
2.194 employees
Turnover
Net turnover:
2007 Euro 3.728.055.000
2006 Euro 3.108.641.000
Real
estate
The business premises
at the mentioned address has been rented by the company, as far as we know.
Finances
See balance sheet
Remarks
Subsidiary company
of
-Sidmar NV,
John Kennedylaan 51, 9042 GENT
Net result:
2007 Euro 80.904.000
2006 Euro 110.634.000
The
shareholders equity was as of:
31/12/2007 Euro 286.543.000
31/12/2006 Euro 279.077.000
The working
capital was as of:
31/12/2007 Euro 253.074.000
31/12/2006 Euro 119.050.000
Other
bankers:
KBC Bank,
account no. 453.0186001-45
Previous
names:
- ALZ
- UGINE
& ALZ BELGIUM SA
Website : www.ugine-alz.com
Trading style : Arcelor Mittal - Stainless Europe
Subject matter is part of the Mittal steel group of
India; Mittal acquired during 2006 Arcelor of Luxemburg/
France/Spain; subject matter is part of the Stainless
division.
Early 2008 did subject matter merge with and absorb
K.I.V.I. of Genk, reg. nr. 0453 366 617.
Accountants: KPMG CVBA
Banks
ING Bank, 335-0110500-63
Fortis Bank, 235-0125000-76
KBC Bank
VAT-nr.
BE401277914
Mode
of payment
Within terms
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Arcelormittal-Stainless Belgium Nv
BALANCE
SHEET
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2006--- ------31-12-2007---
Intangible assets 14.278 11.071
Tangible assets 444.314 421.671
Financial assets 85.376 90.413
Miscellaneous fixed assets 0 0
Total fixed assets 543.968 523.155
Stock 517.308 340.972
Receivables 843.807 627.443
Shares 0 0
Liquid assets 3.171 76.279
Miscellaneous current assets 15.849 6.234
Total current assets 1.380.135 1.050.928
Shareholders
equity 279.077 286.543
Provisions 40.003 45.786
Long-term liabilities 339.886 438.120
Current liabilities 1.261.085 797.854
Minority interests 0 0
Miscellaneous
liabilities 4.052 5.780
Total liabilities 1.924.103 1.574.083
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2006--- ------31-12-2007---
Turnover 3.108.641 3.728.055
Other income 61.390 34.092
Total expenses 3.045.689 3.471.417
Operating profit 141.342 155.069
Balance financial
P/L -28.559 -42.179
Net profit/loss 1] 112.783 112.890
Taxation 121 28.310
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 112.662 84.580
Balance
extraordinary P/L 1.315 -422
Taxation 0 0
Extraordinary P/L
2] 1.315 -422
Res. sub.
companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L -3.343 -3.254
Net result 110.634 80.904
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 14,5 18,2
Equity/outside
capital 17 22,3
LIQUIDITY
Current ratio 1,1 1,3
Acid test 0,7 0,9
RATES OF RETURN %
Total assets 5,9 7,2
Shareholders equity 40,4 39,4
Pre tax
margin % 3,6 3
Turnover rate 161,6 236,8
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 119.050 253.074
Shareholders equity + Equalization acc. 279.077 286.543
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)