MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOCIETE FILS ET
CABLES SOFILEC |
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Registered Office : |
1 Rue Du Perigord 69330 Meyzieu |
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Country : |
France |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
03.11. 1986 |
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Com. Reg. No.: |
86B02504, LYON |
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Legal Form : |
Public Limited Company - Board of Administration |
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Line of Business : |
Manufacture of Insulated Wire and Cable |
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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Maximum Credit Limit : |
EUR 150000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
SOCIETE FILS ET
CABLES SOFILEC
1 RUE DU
PERIGORD
69330 MEYZIEU FR
Tel. Number
+33-4-78045670
Fax number
+33-4-72027059
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Business founded |
03 November 1986 |
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Business registered |
09 December 1986 - Public limited company - board of administration |
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Registration number, |
86B02504, LYON, |
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Trade name, |
SOFILEC, |
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party identification, |
339321309, |
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Legal form |
Public limited company - board of administration |
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Activities |
Manufacture of insulated wire and cable |
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Payment experience |
Payment regular |
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Credit opinion |
High creditworthiness |
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Maximum credit limit 150000 EUR is advised |
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The export volume in percentage of total sales for the
company. 60,36 |
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Financial structure (balance sheet analysis) : Good |
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Cash situation (balance sheet analysis) : Good |
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Profitability (balance sheet analysis) : Normal |
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Commitments (regarding contractual obligations) : Fulfilled
(„respectés“) |
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Payment defaults : None |
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Employees (Business) |
152 |
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Total number of shareholders |
3 |
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Total share capital28 January 2007 |
EUR 3989440 |
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Branch office(s) |
01150 VAUX EN BUGEY |
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Others |
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Bank |
CA 69 MEYZIEU CL DECINES CHARPIEU LB RILLEUX VILLAGE |
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Board members |
DARNIOT GILLES Chairman of the board |
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CAWICO , REPRESENTED BY PIGUET RUINET HENRI Board
member |
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AQUASOURCA , REPRESENTED BY MIRMAND GERARD Board
member |
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Management |
DARNIOT GILLES Managing director |
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PIGUET RUINET HENRI Managing
director |
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Auditor |
CHABANEL BERNARD Deputy auditor |
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(Part-) Owner |
MR PIGUET RUINET HENRI 33,33 % |
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MR DARNIOT GILLES 33,33 % |
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MR BRUNET FRANCOIS 33,33 % |
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The business owns or partly owns one or more pieces of land and
buildings? Yes(Property) |
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Turnover for the period: 00 0000 - 31 December 2006 in
EUR 45.968.585,00 |
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Not consolidated profit and loss turnover of the business: |
Note:
Further to your query: the balance sheet and profit / loss accounts
always show complete figures and than partial break – downs, which leads to
these kinds of questions. For instance, the total operating costs in 2006 was
EUR 45.638.638, - That amount includes everything, all the materials,
purchasing, services bought, staff costs, etc. Only a very limited part of that
is further specified, of which the main part (being the materials bought) is
not even mentioned. The stated EUR 9.901 – Is not the total materials costs.
The same problem also applies with the balance sheet, where the total
fixed assets and current assets and total shareholders equity are all correct
amounts but, again, the break down of these sums are complete. The difference
for the shareholders equity of 2006 concern the other reserves for EUR
1.536.969,-
We are aware that these partial break-downs are confusing, but this is
simply the way these accounts are presented.
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Corporate balance sheet for the year: 00 0000 - 31 December
2006 in EUR |
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ASSETS |
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Total fixed assets |
2.008.581,- |
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Total intangible fixed assets |
183.112,- |
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Total tangible fixed assets |
1.747.445,- |
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Land and buildings 41.321,- |
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Plant, machinery and equipment
: 1.333.496,- |
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Total financial fixed assets |
78.023,- |
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Loans, shares and participations
11.268,- |
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Total Current assets |
16.218.005,- |
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Inventories and work in progress (incl. prepayments) |
6.891.783,- |
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Accounts receivable (trade) |
5.362.533,- |
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Cash in hand and at bank |
3.231.008,- |
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Total accrued income and prepaid expenses and other assets |
732.681,- |
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TOTAL ASSETS |
18.226.586,- |
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Total equity (Shareholders' funds) |
8.873.882,- |
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Issued (subscribed) capital |
3.989.440,- |
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Share premium account (capital reserve) |
56.115,- |
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Legal reserves |
101.346,- |
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Profit or loss carried forward |
1.486.809,- |
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Profit or loss for the previous year |
752.632,- |
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Profit or loss for the financial year |
950.571,- |
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Total provisions |
265.533,- |
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Total long-term liabilities |
1.578.349,- |
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Total current liabilities |
7.508.822,- |
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BALANCE SUM |
18.226.586,- |
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Borrowing ratio |
100,42 % |
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Current ratio |
215,99 % |
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Debt gearing |
17,44 % |
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Profit margin. |
5,70 % |
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Quick ratio |
124,20 % |
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Return on assets |
14,37 % |
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Return on equity. |
10,50 % |
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Solidity or equity ratio |
49,65 % |
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Corporate profit and loss account for the year: 00 0000 - 31
December 2006 in EUR |
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Total operating income/revenue |
48.257.674,- |
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Main revenue (sales/turnover) |
45.968.585,- |
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Total operating expenses |
45.638.638,- |
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Cost of materials (type of expenditure format) |
9.901,- |
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Personnel costs |
4.495.264,- |
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Depreciation |
243.666,- |
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Operating profit or loss |
2.619.036,- |
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Financial income |
22.807,- |
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Financial expenses |
390.869,- |
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Result of ordinary operations |
2.250.974,- |
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Extraordinary income |
80.166,- |
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Extraordinary expenses |
746.886,- |
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Extraordinary result |
-666.720,- |
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Pre-tax and pre-appropriation profit or loss |
2.250.973,- |
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Taxes |
465.217,- |
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Net profit or loss |
950.571,- |
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Turnover for the period: 00 0000 - 31 December 2005 in
EUR 30.957.237,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate balance sheet for the year: 00 0000 - 31 December
2005 in EUR |
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ASSETS |
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Total fixed assets |
1.514.476,- |
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Total intangible fixed assets |
142.974,- |
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Concessions and industrial
rights, goodwill 6.260 |
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Total tangible fixed assets |
1.308.900,- |
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Land and buildings 44.695,- |
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Plant, machinery and equipment 1.100.846,- |
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Total financial fixed assets |
62.601,- |
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Loans, shares and participations 11.268,- |
11.268,- |
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Total Current assets |
9.467.608,- |
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Inventories and work in progress (incl. prepayments) |
4.094.367,- |
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Accounts receivable (trade) |
3.452.655,- |
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Cash in hand and at bank |
1.361.310,- |
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Total accrued income and prepaid expenses and other assets |
559.276,- |
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TOTAL ASSETS |
10.982.084,- |
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Total equity (Shareholders' funds) |
4.368.656,- |
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Issued (subscribed) capital |
1.013.460,- |
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Share premium account (capital reserve) |
32.056,- |
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Legal reserves |
101.346,- |
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Profit or loss carried forward |
753.481,- |
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Profit or loss for the previous year |
22.723,- |
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Profit or loss for the financial year |
752.632,- |
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Total provisions |
287.898,- |
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Total long-term liabilities |
1.306.269,- |
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Total current liabilities |
5.019.260,- |
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BALANCE SUM |
10.982.084,- |
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Borrowing ratio |
138,76 % |
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Current ratio |
188,63 % |
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Debt gearing |
28,65 % |
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Profit margin. |
7,43 % |
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Quick ratio |
107,05 % |
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Return on assets |
20,93 % |
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Return on equity. |
16,51 % |
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Solidity or equity ratio |
41,51 % |
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Corporate profit and loss account for the year: 00 0000 - 31 December
2005 in EUR |
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Total operating income/revenue |
31.850.042,- |
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Main revenue (sales/turnover) |
30.957.237,- |
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Total operating expenses |
29.551.090,- |
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Cost of materials (type of expenditure format) |
30.277,- |
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Personnel costs |
4.335.929,- |
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Depreciation |
191.205,- |
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Operating profit or loss |
2.298.952,- |
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Financial income |
33.637,- |
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Financial expenses |
244.210,- |
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Result of ordinary operations |
2.088.379,- |
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Extraordinary income |
22.260,- |
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Extraordinary expenses |
679.048,- |
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Extraordinary result |
-656.788,- |
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Pre-tax and pre-appropriation profit or loss |
2.088.379,- |
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Taxes |
485.024,- |
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Net profit or loss |
752.632,- |
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Turnover for the period: 00 0000 - 31 December 2004 in
EUR 8.277.102,00 |
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Not consolidated profit and loss turnover of the business: |
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Corporate balance sheet for the year: 00 0000 - 31 December
2004 in EUR |
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ASSETS |
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Total fixed assets |
1.040.166,- |
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Total intangible fixed assets |
115.613,- |
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Concessions and industrial rights, goodwill 8.899,- |
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Total tangible fixed assets |
873.219,- |
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Land and buildings 19.80,- |
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Plant, machinery and equipment 723.381,- |
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Total financial fixed assets |
51.333,- |
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Total Current assets |
3.567.244,- |
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Inventories and work in progress (incl. prepayments) |
1.739.615,- |
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Accounts receivable (trade) |
1.498.589,- |
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Investments (short-term) |
55.797,- |
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Cash in hand and at bank |
101.680,- |
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Total accrued income and prepaid expenses and other assets |
273.243,- |
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TOTAL ASSETS |
4.608.708,- |
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Total equity (Shareholders' funds) |
3.126.552,- |
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Issued (subscribed) capital |
1.013.460,- |
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Share premium account (capital reserve) |
32.056,- |
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Legal reserves |
101.346,- |
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Profit or loss carried forward |
736.791,- |
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Profit or loss for the financial year |
22.723,- |
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Total provisions |
202.993,- |
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Total long-term liabilities |
181.380,- |
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Total current liabilities |
1.095.428,- |
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BALANCE SUM |
4.608.708,0- |
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Borrowing ratio |
39,16 % |
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Current ratio |
325,65 % |
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Debt gearing |
5,56 % |
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Profit margin. |
1,26 % |
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Quick ratio |
166,84 % |
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Return on assets |
2,27 % |
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Return on equity. |
0,70 % |
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Solidity or equity ratio |
70,75 % |
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Corporate profit and loss account for the year: 00 0000 - 31
December 2004 in EUR |
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Total operating income/revenue |
8.401.299,- |
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Main revenue (sales/turnover) |
8.277.102,- |
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Total operating expenses |
8.296.634,- |
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Personnel costs |
1.494.961,- |
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Depreciation |
273.645,- |
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Operating profit or loss |
104.665,- |
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Financial income |
16.956,- |
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Financial expenses |
72.131,- |
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Result of ordinary operations |
49.490,- |
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Extraordinary income |
16.800,- |
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Extraordinary expenses |
19.604,- |
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Extraordinary result |
-2.804,- |
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Pre-tax and pre-appropriation profit or loss |
49.490,- |
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Taxes |
23.964,- |
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Net profit or loss |
22.723,- |
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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%)