MIRA INFORM REPORT

 

 

Report Date :

16.05.2008

 

IDENTIFICATION DETAILS

 

Name :

SOCIETE FILS ET CABLES SOFILEC

 

 

Registered Office :

1 Rue Du Perigord 69330 Meyzieu 

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

03.11. 1986

 

 

Com. Reg. No.:

86B02504, LYON

 

 

Legal Form :

Public Limited Company - Board of Administration

 

 

Line of Business :

Manufacture of Insulated Wire and Cable

 

 

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

 

SOCIETE FILS ET CABLES SOFILEC

 1 RUE DU PERIGORD

 69330 MEYZIEU FR

Tel. Number +33-4-78045670

Fax number +33-4-72027059

 

 

 

Business founded

03 November 1986

Business registered

09 December 1986 - Public limited company - board of administration

Registration number,

86B02504, LYON,

Trade name,

SOFILEC,

party identification,

339321309,

Legal form

Public limited company - board of administration

Activities

Manufacture of insulated wire and cable

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 150000 EUR is advised

 

The export volume in percentage of total sales for the company.  60,36

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Normal 

 

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

 

Payment defaults : None 

Employees (Business)

 152

Total number of shareholders

 3

Total share capital28 January 2007

EUR 3989440

Branch office(s)

01150 VAUX EN BUGEY   

 

   Others

Bank

CA 69 MEYZIEU CL DECINES CHARPIEU LB RILLEUX VILLAGE   

Board members

DARNIOT GILLES   Chairman of the board

 

CAWICO , REPRESENTED BY PIGUET RUINET HENRI   Board member

 

AQUASOURCA , REPRESENTED BY MIRMAND GERARD   Board member

Management

DARNIOT GILLES   Managing director

 

PIGUET RUINET HENRI   Managing director

Auditor

CHABANEL BERNARD   Deputy auditor

(Part-) Owner

MR PIGUET RUINET HENRI   33,33 %   

 

MR DARNIOT GILLES   33,33 %   

 

MR BRUNET FRANCOIS   33,33 %   

 

 

 

 

 

 

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 45.968.585,00

 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

18.226.586,-

Total fixed assets

2.008.581,-

Total intangible fixed assets

183.112,-

Concessions and industrial rights, goodwill

46.398,-

Total tangible fixed assets

1.747.445,-

Land and buildings

41.321,-

Plant, machinery and equipment

1.333.496,-

Total financial fixed assets

78.023,-

Loans, shares and participations

11.268,-

Total Current assets

16.218.005,-

Inventories and work in progress (incl. prepayments)

6.891.783,-

Accounts receivable (trade)

5.362.533,-

Cash in hand and at bank

3.231.008,-

Total accrued income and prepaid expenses

107.521,-

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

18.226.586,-

Total equity (Shareholders' funds)

8.873.882,-

Issued (subscribed) capital

3.989.440,-

Share premium account (capital reserve)

56.115,-

Legal reserves

101.346,-

Profit or loss carried forward

1.486.809,-

Profit or loss for the previous year

752.632,-

Profit or loss for the financial year

950.571,-

Total provisions

265.533,-

Total liabilities

9.087.171,-

Total long-term liabilities

1.578.349,-

Long-term Loans, Mortgage debts

938,-

Long-term liabilities to credit institutions

1.577.411,-

Total current liabilities

7.508.822,-

Current accounts payable (trade)

5.482.241,-

Income and social tax liabilities

1.694.027,-

Borrowing ratio

100,42 %

Current ratio

215,99 %

Debt gearing

17,44 %

Profit margin.

5,70 %

Quick ratio

124,20 %

Return on assets

14,37 %

Return on equity.

10,50 %

Solidity or equity ratio

49,65 %

 

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

Total operating income/revenue

48.257.674,-

Main revenue (sales/turnover)

45.968.585,-

Total operating expenses

45.638.638,-

Cost of materials (type of expenditure format)

9.901,-

Personnel costs

4.495.264,-

Depreciation

243.666,-

Operating profit or loss

2.619.036,-

Financial income

22.807,-

Financial expenses

390.869,-

Result of ordinary operations

2.250.974,-

Extraordinary income

80.166,-

Extraordinary expenses

746.886,-

Extraordinary result

-666.720,-

Pre-tax and pre-appropriation profit or loss

2.250.973,-

Taxes

465.217,-

Net profit or loss

950.571,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 30.957.237,00

 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

10.982.084,-

Total fixed assets

1.514.476,-

Total intangible fixed assets

142.974,-

Concessions and industrial rights, goodwill

6.260,-

Total tangible fixed assets

1.308.900,-

Land and buildings

44.695,-

Plant, machinery and equipment

1.100.846,-

Total financial fixed assets

62.601,-

Loans, shares and participations

11.268,-

Total Current assets

9.467.608,-

Inventories and work in progress (incl. prepayments)

4.094.367,-

Accounts receivable (trade)

3.452.655,-

Cash in hand and at bank

1.361.310,-

Total accrued income and prepaid expenses

136.284,-

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

10.982.084,-

Total equity (Shareholders' funds)

4.368.656,-

Issued (subscribed) capital

1.013.460,-

Share premium account (capital reserve)

32.056,-

Legal reserves

101.346,-

Profit or loss carried forward

753.481,-

Profit or loss for the previous year

22.723,-

Profit or loss for the financial year

752.632,-

Total provisions

287.898,-

Total liabilities

6.325.530,-

Total long-term liabilities

1.306.269,-

Long-term liabilities to credit institutions

1.306.269,-

Total current liabilities

5.019.260,-

Current accounts payable (trade)

2.730.330,-

Income and social tax liabilities

2.135.277,-

Borrowing ratio

138,76 %

Current ratio

188,63 %

Debt gearing

28,65 %

Profit margin.

7,43 %

Quick ratio

107,05 %

Return on assets

20,93 %

Return on equity.

16,51 %

Solidity or equity ratio

41,51 %

 

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

Total operating income/revenue

31.850.042,-

Main revenue (sales/turnover)

30.957.237,-

Total operating expenses

29.551.090,-

Cost of materials (type of expenditure format)

30.277,-

Personnel costs

4.335.929,-

Depreciation

191.205,-

Operating profit or loss

2.298.952,-

Financial income

33.637,-

Financial expenses

244.210,-

Result of ordinary operations

2.088.379,-

Extraordinary income

22.260,-

Extraordinary expenses

679.048,-

Extraordinary result

-656.788,-

Pre-tax and pre-appropriation profit or loss

2.088.379,-

Taxes

485.024,-

Net profit or loss

752.632,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 8.277.102,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

4.608.708,-

Total fixed assets

1.040.166,-

Total intangible fixed assets

115.613,-

Concessions and industrial rights, goodwill

8.899,-

Total tangible fixed assets

873.219,-

Land and buildings

19.807,-

Plant, machinery and equipment

723.381,-

Total financial fixed assets

51.333,-

Total Current assets

3.567.244,-

Inventories and work in progress (incl. prepayments)

1.739.615,-

Accounts receivable (trade)

1.498.589,-

Investments (short-term)

55.797,-

Cash in hand and at bank

101.680,-

Total accrued income and prepaid expenses

83.672,-

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

4.608.708,-

Total equity (Shareholders' funds)

3.126.552,-

Issued (subscribed) capital

1.013.460,-

Share premium account (capital reserve)

32.056,-

Legal reserves

101.346,-

Profit or loss carried forward

736.791,-

Profit or loss for the financial year

22.723,-

Total provisions

202.993,-

Total liabilities

1.276.808,-

Total long-term liabilities

181.380,-

Long-term liabilities to credit institutions

181.380,-

Total current liabilities

1.095.428,-

Current accounts payable (trade)

677.728,-

Income and social tax liabilities

363.432,-

Borrowing ratio

39,16 %

Current ratio

325,65 %

Debt gearing

5,56 %

Profit margin.

1,26 %

Quick ratio

166,84 %

Return on assets

2,27 %

Return on equity.

0,70 %

Solidity or equity ratio

70,75 %

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

8.401.299,-

Main revenue (sales/turnover)

8.277.102,-

Total operating expenses

8.296.634,-

Personnel costs

1.494.961,-

Depreciation

273.645,-

Operating profit or loss

104.665,-

Financial income

16.956,-

Financial expenses

72.131,-

Result of ordinary operations

49.490,-

Extraordinary income

16.800,-

Extraordinary expenses

19.604,-

Extraordinary result

-2.804,-

Pre-tax and pre-appropriation profit or loss

49.490,-

Taxes

23.964,-

Net profit or loss

22.723,-

 

 

 

 

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