MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
FORD MOTOR COMPANY |
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Registered Office : |
C/o The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801 |
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Country : |
United States |
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Financials (as on) : |
30.06.2008 |
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Date of incorporation : |
09.07.1919 |
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Com. Reg. No.: |
Delaware 0085730 |
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Legal Form : |
Public Company |
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Line of Business : |
Designs, Develops, Manufactures, and Services Cars and Trucks
Worldwide |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
FORD MOTOR COMPANY
Company acronym:
-
Contact Information
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Address |
1 American Road Dearborn, MI 48126 USA |
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Telephone |
313-322-3000 |
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Fax |
313-845-6073 |
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Website |
www.ford.com |
Registration Data
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Date of Registration |
July 9, 1919 |
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Registration number |
Delaware 0085730 |
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Legal address |
c/o The Corporation Trust Company 1209 Orange Street Wilmington, DE 19801 |
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Legal Form |
Public Company (NYSE = F) |
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Share Capital |
As of July 29, 2008, the registrant had outstanding 2,190,498,174 shares of Common Stock and
70,852,076 shares of Class B Stock. |
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Other Registration Data |
- |
Shareholders
with Shares
79% of the stock is held by institutional and mutual fund owners
including:
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WELLINGTON MANAGEMENT COMPANY, LLP |
9.46% |
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DODGE & COX INC |
6.02% |
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BRANDES INVESTMENT PARTNERS L.P. |
5.26% |
Board/Executive
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Name |
Alan R. MULALLY |
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Position within the company |
President and CEO |
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Name |
Donat R. LECLAIR Jr. |
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Position within the company |
CFO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Ford Motor Company designs, develops, manufactures, and services cars
and trucks worldwide. It operates in two sectors, Automotive and Financial
Services. The Automotive sector sells vehicles under Ford, Mercury, Lincoln,
and Volvo brand names. This sector markets cars, trucks, and parts through
retail dealers in North America, and through distributors and dealers outside
of North America. It also sells cars and trucks to dealers for sale to fleet
customers, including daily rental car companies, commercial fleet customers,
leasing companies, and governments. In addition, this sector provides retail
customers with a range of after-the-sale vehicle services and products in
areas, such as maintenance and light repair, heavy repair, collision, vehicle
accessories, and extended service warranty under brand names, including Genuine
Ford, Lincoln-Mercury Parts and Service, Ford Extended Service Plan, and
Motorcraft. The Financial Services sector offers a various automotive financing
products to and through automotive dealers. It offers retail financing, which
includes purchasing retail installment sale contracts and retail lease
contracts from dealers, and offering financing to commercial customers to
purchase or lease vehicle fleets; wholesale financing that comprises making
loans to dealers to finance the purchase of vehicle inventory; and other
financing, which consists of making loans to dealers for working capital,
improvements to dealership facilities, and to purchase or finance dealership
real estate. This sector also services the finance receivables and leases that
it originates and purchases, makes loans to its affiliates, purchases
receivables, and provides insurance services related to its financing programs.
The company has joint ventures with Mazda; Getrag Deutsche Venture GmbH and Co.
KG; Neumayer Tekfor GmbH; Song Cong Diesel; and Lio Ho Group.
Staff
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Number of staff employed |
246,000 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Worldwide |
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Exports To |
Worldwide |
Facilities
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Owned |
Manufacture, warehouse and office |
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Premises Size |
500,000 sq. feet |
Subsidiaries
and Participation
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Parent Company |
Quoted with the NYSE under symbol F. |
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Subsidiaries |
Numerous subsidiaries in the U.S. and worldwide |
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Affiliates |
- |
Branches
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Address |
Numerous branches in the U.S. |
Bankers
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Bank |
HSBC Bank |
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Branch |
Bank of America |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
Financial reports on attachment.
Reporter Comments
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Comments |
The interview was conducted with an officer with the UNITED STATES
SECURITIES AND EXCHANGE COMMISSION. |
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Local Reputation |
All major analysts downgrade the Company. The company being investigated is believed by local reporters to be a Medium/High Trade Risk and to
be fair. According to our credit analysts, during the last 6 months, less than
50% of trade experience indicates a regular payment. Payments of imports are currently made with an average of more than 30
days beyond terms. |
ANNUAL FINANCIALS
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PERIOD ENDING |
31-Dec-07 |
31-Dec-06 |
31-Dec-05 |
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Total Revenue |
172,455,000 |
160,123,000 |
176,896,000 |
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Cost of Revenue |
142,587,000 |
148,869,000 |
144,924,000 |
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Gross Profit |
29,868,000 |
11,254,000 |
31,972,000 |
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Operating Expenses |
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Selling General and Administrative |
21,169,000 |
19,180,000 |
18,768,000 |
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Non Recurring |
2,400,000 |
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(1,095,000) |
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Others |
668,000 |
241,000 |
6,337,000 |
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Operating Income or Loss |
5,631,000 |
(8,167,000) |
7,962,000 |
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Income from Continuing Operations |
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Total Other Income/Expenses Net |
1,550,000 |
1,899,000 |
1,249,000 |
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Earnings Before Interest And Taxes |
7,181,000 |
(6,268,000) |
9,496,000 |
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Interest Expense |
10,927,000 |
8,783,000 |
8,417,000 |
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Income Before Tax |
(3,746,000) |
(15,051,000) |
1,079,000 |
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Income Tax Expense |
(1,294,000) |
(2,646,000) |
(845,000) |
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Minority Interest |
(312,000) |
(210,000) |
(280,000) |
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Net Income From Continuing Ops |
(2,764,000) |
(12,615,000) |
1,644,000 |
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Non-recurring Events |
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Discontinued Operations |
41,000 |
2,000 |
47,000 |
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Effect Of Accounting Changes |
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(251,000) |
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Net Income |
(2,723,000) |
(12,613,000) |
1,440,000 |
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Preferred Stock And Other Adjustments |
- |
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- |
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Net Income Applicable To Common Shares |
($2,723,000) |
($12,613,000) |
$1,440,000 |
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QUARTERS FINANCIALS
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Quarterly Data |
All numbers in thousands |
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.62 |
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UK Pound |
1 |
Rs.76.71 |
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Euro |
1 |
Rs.61.30 |
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%)