MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GALLOOMETAL NV |
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Registered Office : |
Wervikstraat 320 8930 Menen |
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Country : |
Belgium |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
30.06.1982 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Transport
of, loading and unloading of, manipulation, grouping, finishing and
transshipment of cargo; recycling of non-ferrous metals. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
name & address
Galloometal Nv
Wervikstraat 320
8930 MENEN
Tel.:+32
(0)56-521300
Fax.:+32
(0)56-521310
Legal
status
NV Public limited company
[nat. law]
Founded
30/06/1982 as P.l.c.
Trade
register
59101514
Capital
Nominal EUR 248.000,--
Issued and paid up EUR 248.000,--
Management
-Pierre Vandeputte, Oude Leielaan 89 bus
001, 8930 Menen.
-Antoine Vandeputte, Voskenstraat 131, 8930
Menen
-Joella Galloo, Voskenstraat 131, 8930 Menen
-Jan Vandeputte, Voskenstraat 131, 8930
Menen.
-Mieke Watteyne, Boezingestraat 24, 8500
Kortrijk
Activity
Transport of,
loading and unloading of, manipulation, grouping, finishing and transshipment
of cargo;
recycling of non-ferrous metals.
Staff
78 employees
Turnover
Net turnover:
2007 Euro 75.122.831
2006 Euro 48.272.942
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
Net result:
2007 Euro 6.769.816
2006 Euro 4.244.040
The
shareholders equity was as of:
30/06/2007 Euro 26.324.834
30/06/2006 Euro 19.557.123
The working
capital was as of:
30/06/2007 Euro 13.193.430
30/06/2006 Euro 11.192.832
Shareholder:
Galloo NV,
Menen (50 %)
Name(s) of
the other shareholder(s) not disclosed.
Subsidairies
according to the latest filed accounts:
-NV Galloo
France, Halluin, F (20%)
-ECR,
Halluin, F, (24,6%)
-Valorauto
Belgium, Wervikenstraat 320, 8930 Menen (20%)
-Metal
Recycling Transport, Wervikenstraat 320, 8930, Menen(50%)
-Val RB,
Halluin, F(20%)
-Almetal
Holding, Scheepzatestraat 9, 9000 Gent (30%)
-Galloo
Plastic, Halluin, F(30,06%)
-Recyval, Rivage
de Boubier25, 6200 Chatelet (27,5%)
Website:www.galloo.com
Banks
BBL
VAT-nr.
BE422834084
Mode
of payment
On average 5 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from the corporate balance
sheet of :
Galloometal Nv
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---30-06-2006--- ------30-06-2007---
Intangible assets 0 555.668
Tangible assets 5.138.866 7.397.544
Financial assets 4.230.319 6.933.383
Miscellaneous fixed assets 0 0
Total fixed assets 9.369.185 14.886.595
Stock 8.001.733 4.472.908
Receivables 10.728.502 15.574.438
Shares 1.521.265 2.779.235
Liquid assets 616.121 1.116.028
Miscellaneous current assets 221.728 338.694
Total current assets 21.089.349 24.281.303
Shareholders
equity 19.557.123 26.324.834
Provisions 4.337 3.252
Long-term liabilities 829.166 1.674.167
Current liabilities 9.896.517 11.087.873
Minority interests 0 0
Miscellaneous
liabilities 171.391 77.77
Total liabilities 30.458.534 39.167.898
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---30-06-2006--- ------30-06-2007---
Turnover 48.272.942 75.122.831
Other income 440.694 754.870
Total expenses 41.989.777 65.863.952
Operating profit 5.299.388 9.558.116
Balance financial P/L 885.030 371.079
Net profit/loss 1] 6.184.418 9.929.195
Taxation 1.946.707 3.225.121
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 4.237.711 6.704.074
Balance extraordinary P/L 5.244 64.659
Taxation 0 0
Extraordinary P/L 2] 5.244 64.659
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 1.085 1.083
Net result 4.244.040 6.769.816
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 64,2 67,2
Equity/outside
capital 179,4 205
LIQUIDITY
Current ratio 2,1 2,2
Acid test 1,3 1,8
RATES OF RETURN %
Total assets 20,3 25,4
Shareholders equity 31,6 37,7
Pre tax
margin % 12,8 13,2
Turnover rate 158,5 191,8
(x
1) (x 1)
-------------------- --------------------
Working capital 11.192.832 13.193.430
Shareholders equity + Equalization acc. 19.557.123 26.324.834
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%)