MIRA INFORM REPORT

 

 

Report Date :

21.05.2008

 

IDENTIFICATION DETAILS

 

Name :

TIMAB INDUSTRIES

 

 

Registered Office :

55 Boulevard Jules Verger 35800 Dinard 

 

 

Country :

France

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

16.11. 1995

 

 

Com. Reg. No.:

95B00219, SAINT-MALO

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture of Miscellaneous Inorganic Basic Chemicals

 

 

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

 

TIMAB INDUSTRIES

 55 BOULEVARD JULES VERGER

 35800 DINARD FR

Tel. Number +33-2-99165150

Fax number +33-2-99165160

 

 

 

Business founded

16 November 1995

Business registered

30 November 1995 - Public limited company (no information regarding quotation)

Registration number,

95B00219, SAINT-MALO,

party identification,

402949705,

Legal form

Public limited company (no information regarding quotation)

Activities

Manufacture of miscellaneous inorganic basic chemicals

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.  29,79

 

Financial structure (balance sheet analysis) : Good 

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Outstanding 

 

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

 

Payment defaults : None 

Employees (Business)

 34

Total number of shareholders

 1

Total share capital31 December 2006

EUR 1354590

Branch office(s)

LE ROUTHOUAN,35400 ST MALO   

 

   Others

Bank

BNP JAURES 35 ST MALO, CL CESSON SG LAVAL   

Board members

BAMAS DOMINIQUE   President

Management

LE JEAN GILLES   Managing director

Auditor

LAINE YVES   Deputy auditor

Parent company :

313642548   COMPAGNIE FINANCIERE ET DE PARTICIPATIONS ROULLIER   99,99 %   

Subsidiary company.

383849106   TIMAB DISTRIBUTION   99,80 %   

 

 

 

 

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 80.166.573,00

 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

33.875.206,-

Total fixed assets

10.459.865,-

Total intangible fixed assets

4.541,-

Concessions and industrial rights, goodwill

4.541,-

Total tangible fixed assets

2.919.945,-

Land and buildings

1.885.137,-

Plant, machinery and equipment

939.324,-

Total financial fixed assets

7.535.375,-

Loans, shares and participations

7.532.031,-

Total Current assets

23.413.232,-

Inventories and work in progress (incl. prepayments)

2.255.789,-

Accounts receivable (trade)

12.758.586,-

Cash in hand and at bank

1.985.496,-

Total accrued income and prepaid expenses

32.365,-

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

33.875.206,-

Total equity (Shareholders' funds)

10.569.835,-

Issued (subscribed) capital

1.354.590,-

Share premium account (capital reserve)

177.378,-

Legal reserves

137.670,-

Profit or loss carried forward

59.098,-

Profit or loss for the previous year

6.832.048,-

Profit or loss for the financial year

7.155.460,-

Total provisions

1.634.388,-

Total liabilities

21.665.714,-

Total long-term liabilities

6.161.040,-

Long-term Loans, Mortgage debts

1.913.747,-

Long-term liabilities to credit institutions

4.247.293,-

Total current liabilities

15.504.672,-

Current accounts payable (trade)

13.862.680,-

Income and social tax liabilities

1.082.843,-

Borrowing ratio

186,00 %

Current ratio

151,01 %

Debt gearing

52,89 %

Profit margin.

10,26 %

Quick ratio

136,46 %

Return on assets

24,28 %

Return on equity.

61,43 %

Solidity or equity ratio

34,39 %

 

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

Total operating income/revenue

81.186.103,-

Main revenue (sales/turnover)

80.166.573,-

Total operating expenses

72.960.228,-

Cost of materials (type of expenditure format)

22.650.426,-

Personnel costs

1.171.358,-

Depreciation

258.763,-

Operating profit or loss

8.225.874,-

Financial income

3.507.133,-

Financial expenses

491.006,-

Result of ordinary operations

11.242.000,-

Extraordinary income

380.530,-

Extraordinary expenses

1.457.235,-

Extraordinary result

-1.076.704,-

Pre-tax and pre-appropriation profit or loss

11.242.001,-

Taxes

2.816.552,-

Net profit or loss

7.155.460,-

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 75.671.499,00

 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

37.546.319,-

Total fixed assets

9.800.710,-

Total intangible fixed assets

6.337,-

Concessions and industrial rights, goodwill

6.337,-

Total tangible fixed assets

2.259.723,-

Land and buildings

1.218.269,-

Plant, machinery and equipment

968.632,-

Total financial fixed assets

7.534.650,-

Loans, shares and participations

7.531.306,-

Total Current assets

27.683.787,-

Inventories and work in progress (incl. prepayments)

3.580.612,-

Accounts receivable (trade)

13.030.996,-

Cash in hand and at bank

2.214.250,-

Total accrued income and prepaid expenses

90.823,-

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

37.546.319,-

Total equity (Shareholders' funds)

10.291.873,-

Issued (subscribed) capital

1.354.590,-

Share premium account (capital reserve)

177.378,-

Legal reserves

137.670,-

Profit or loss for the previous year

4.361.648,-

Profit or loss for the financial year

6.832.048,-

Total provisions

1.132.689,-

Total liabilities

25.986.344,-

Total long-term liabilities

9.703.047,-

Long-term Loans, Mortgage debts

3.190.820,-

Long-term liabilities to credit institutions

6.512.227,-

Total current liabilities

16.283.295,-

Current accounts payable (trade)

14.570.895,-

Income and social tax liabilities

1.409.655,-

Borrowing ratio

235,40 %

Current ratio

170,01 %

Debt gearing

87,89 %

Profit margin.

10,76 %

Quick ratio

148,02 %

Return on assets

21,70 %

Return on equity.

61,89 %

Solidity or equity ratio

29,40 %

 

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

Total operating income/revenue

76.304.045,-

Main revenue (sales/turnover)

75.671.499,-

Total operating expenses

68.158.073,-

Cost of materials (type of expenditure format)

20.451.139,-

Personnel costs

1.176.262,-

Depreciation

220.824,-

Operating profit or loss

8.145.971,-

Financial income

1.704.925,-

Financial expenses

598.935,-

Result of ordinary operations

9.251.961,-

Extraordinary income

828.151,-

Extraordinary expenses

565.615,-

Extraordinary result

262.536,-

Pre-tax and pre-appropriation profit or loss

9.251.961,-

Taxes

2.493.137,-

Net profit or loss

6.832.048,-

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 66.284.992,00

 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

35.630.991,-

Total fixed assets

8.313.675,-

Total intangible fixed assets

5.456,-

Concessions and industrial rights, goodwill

5.456,-

Total tangible fixed assets

2.407.889,-

Land and buildings

1.329.999,-

Plant, machinery and equipment

978.848,-

Total financial fixed assets

5.900.330,-

Loans, shares and participations

5.897.586,-

Total Current assets

27.178.053,-

Inventories and work in progress (incl. prepayments)

3.341.645,-

Accounts receivable (trade)

10.132.152,-

Cash in hand and at bank

1.044.098,-

Total accrued income and prepaid expenses

177.608,-

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

35.630.991,-

Total equity (Shareholders' funds)

8.845.254,-

Issued (subscribed) capital

1.354.590,-

Share premium account (capital reserve)

1.529.071,-

Legal reserves

137.670,-

Profit or loss carried forward

66.242,-

Profit or loss for the financial year

4.361.648,-

Total provisions

1.032.175,-

Total liabilities

24.760.150,-

Total long-term liabilities

11.275.574,-

Long-term Loans, Mortgage debts

4.516.052,-

Long-term liabilities to credit institutions

6.759.522,-

Total current liabilities

13.484.575,-

Current accounts payable (trade)

12.578.168,-

Income and social tax liabilities

623.475,-

Borrowing ratio

259,91 %

Current ratio

201,55 %

Debt gearing

118,36 %

Profit margin.

9,38 %

Quick ratio

176,77 %

Return on assets

17,45 %

Return on equity.

45,78 %

Solidity or equity ratio

26,74 %

 

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

Total operating income/revenue

66.629.641,-

Main revenue (sales/turnover)

66.284.992,-

Total operating expenses

60.411.888,-

Cost of materials (type of expenditure format)

17.925.647,-

Personnel costs

1.086.686,-

Depreciation

436.201,-

Operating profit or loss

6.217.752,-

Financial income

1.366.230,-

Financial expenses

682.902,-

Result of ordinary operations

6.901.080,-

Extraordinary income

271.698,-

Extraordinary expenses

567.142,-

Extraordinary result

-295.443,-

Pre-tax and pre-appropriation profit or loss

6.901.080,-

Taxes

2.090.108,-

Net profit or loss

4.361.648,-

 

 

 

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