MIRA
INFORM REPORT
|
Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CHIYODA EUROPA NV |
|
|
|
|
Registered Office : |
37 Henry Fordlaan Genk |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.07.2007 |
|
|
|
|
Date of Incorporation : |
15.07.1983 |
|
|
|
|
Com. Reg. No.: |
424426666 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of Paper and Paperboard |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
(€) 1,750,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Company
Summary
|
COMPANY SUMMARY |
|
|
Business Name |
CHIYODA EUROPA NV |
|
Business Number |
424426666 |
|
Address |
37 HENRY FORDLAAN GENK |
|
Post Code |
3600 |
|
Telephone |
089610711 |
|
Fax Number |
089613020 |
|
Date of Establisment |
15-07-1983 |
|
Number of Employees |
251 |
|
CREDIT
INFORMATION SUMMARY |
||
|
Company Status |
ACTIVE |
|
|
Today's Credit Limit (€) |
1,750,000 |
|
|
Today's Purchase Limit (€) |
16,500,000 |
|
|
Date of Deposit at Registry |
28-02-2008 |
|
|
Date of Last Accounts |
31-07-2007 |
|
|
Turnover |
65,922,666 |
|
|
Results of Ordinary Operations Before Tax |
529,568 |
|
|
Networth |
18,518,785 |
|
|
PAST PAYMENTS |
|
|
Payment Expectation Days |
90.32 |
|
Days Sales Outstanding |
6.71 |
|
Industry Average Payment Expectation Days |
65.01 |
|
Industry Average Day Sales Outstanding |
87.86 |
|
COURT DATA
SUMMARY |
|
|
bankruptcy
details |
|
|
Court Action Type |
None |
|
Protested
Bills |
|
|
Bill Amount |
|
|
NSSO
Details |
|
|
Date of Summons |
-- |
Company
Information
|
COMPANY DETAILS |
|
|
Business Number |
424426666 |
|
Name |
CHIYODA EUROPA NV |
|
Fax Number |
089613020 |
|
Establishment Date |
15-07-1983 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Manufacture of paper and paperboard |
|
Activity Code |
17120 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
LATEST EVENT |
|
|
Serial Number |
166163 |
|
Event Description |
Appointment |
Accounts
& Ratio
|
PERIOD |
|||||
|
Accounts End Date |
31-07-2007 |
% |
31-07-2006 |
% |
31-07-2005 |
|
Weeks |
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
PROFIT &
LOSS |
|||||
|
Turnover |
65,922,666 |
-7.9% |
71,584,917 |
13.1% |
63,279,000 |
|
Total Operating Expenses |
63,687,603 |
-8.3% |
69,420,287 |
9.6% |
63,338,000 |
|
Operating Result |
2,235,063 |
3.3% |
2,164,630 |
3,768.9% |
-59,000 |
|
Total Financial Income |
178,489 |
-31.2% |
259,617 |
-30.4% |
373,000 |
|
Total Financial Expenses |
1,836,270 |
146.3% |
745,592 |
59.3% |
468,000 |
|
Results on Ordinary Operations Before Tax |
529,568 |
-66.7% |
1,591,326 |
635.8% |
-297,000 |
|
Taxation |
264,255 |
-67.3% |
808,940 |
3,577.0% |
22,000 |
|
Results on Ordinary Operations After Tax |
265,313 |
-66.1% |
782,386 |
345.3% |
-319,000 |
|
Extraordinary Items |
-143,611 |
-90,421.4% |
159 |
- |
0 |
|
Net Result |
190,294 |
-77.6% |
850,425 |
436.1% |
-253,000 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
13,406,414 |
-5.6% |
14,196,213 |
6.1% |
13,385,000 |
|
- Wages & Salaries |
9,046,937 |
-7.5% |
9,781,026 |
5.2% |
9,297,000 |
|
- Social Security Contributions |
3,469,680 |
-2.8% |
3,569,283 |
7.7% |
3,315,000 |
|
- Other Employee Costs |
616,224 |
10.8% |
556,350 |
12.4% |
495,000 |
|
Amortization & Depreciation |
3,465,373 |
4.6% |
3,311,720 |
18.2% |
2,802,000 |
|
BALANCE SHEET |
|||||
|
Accounts End Date |
31-07-2007 |
% |
31-07-2006 |
% |
31-07-2005 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
88,883 |
-47.3% |
168,516 |
-35.2% |
260,000 |
|
Tangible Fixed Assets |
13,993,578 |
-11.2% |
15,764,468 |
-4.1% |
16,443,000 |
|
- Land And Buildings |
3,565,237 |
-11.9% |
4,044,656 |
8.7% |
3,720,000 |
|
- Plant And Machinery |
9,208,484 |
-20.8% |
11,623,964 |
-7.6% |
12,583,000 |
|
- Other Tangible Assets |
1,219,857 |
1,172.7% |
95,848 |
-31.5% |
140,000 |
|
Financial Fixed Assets |
5,575,689 |
0.9% |
5,525,361 |
1.6% |
5,441,000 |
|
Total Fixed Assets |
19,658,150 |
-8.4% |
21,458,345 |
-3.1% |
22,144,000 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
5,606,309 |
-6.1% |
5,969,508 |
1.5% |
5,882,000 |
|
- Work in Progress |
291,652 |
-57.3% |
683,130 |
112.8% |
321,000 |
|
- Finished Goods |
4,556,892 |
23.0% |
3,705,206 |
-0.2% |
3,713,000 |
|
- Other Stocks |
0 |
- |
0 |
- |
0 |
|
Trade Debtors |
1,212,713 |
-53.4% |
2,604,950 |
82.7% |
1,426,000 |
|
Cash |
4,764,349 |
27.0% |
3,752,800 |
-9.0% |
4,123,000 |
|
- Miscellaneous Current Assets |
6,344,660 |
-7.0% |
6,825,042 |
12.7% |
6,057,000 |
|
Total Current Assets |
22,776,575 |
-3.2% |
23,540,636 |
9.4% |
21,522,000 |
|
|
|||||
|
- Trade Creditors |
15,759,496 |
-4.7% |
16,545,302 |
6.3% |
15,572,000 |
|
- Short Term Group Loans |
1,197,374 |
11.4% |
1,074,435 |
7.3% |
1,001,000 |
|
- Other Short Term Loans |
4,365,731 |
-9.9% |
4,844,257 |
-22.8% |
6,278,000 |
|
- Miscellaneous Current Liabilities |
-132,243 |
-122.7% |
581,601 |
159.9% |
-971,000 |
|
Total Current Liabilities |
21,190,358 |
-8.1% |
23,045,595 |
5.3% |
21,880,000 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
1,748,907 |
-31.0% |
2,535,627 |
-28.2% |
3,532,000 |
|
- Other Long Term Liabilities |
887,791 |
-4.9% |
933,780 |
68.2% |
555,000 |
|
Total Long Term Debts |
2,636,698 |
-24.0% |
3,469,407 |
-15.1% |
4,087,000 |
|
|
|||||
|
- Issued Share Capital |
3,967,000 |
0.0% |
3,967,000 |
0.0% |
3,967,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
14,640,668 |
0.9% |
14,516,979 |
5.7% |
13,732,000 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
18,607,668 |
0.7% |
18,483,979 |
4.4% |
17,699,000 |
|
|
|||||
|
Working Capital |
1,586,217 |
220.4% |
495,041 |
238.3% |
-358,000 |
|
Net Worth |
18,518,785 |
1.1% |
18,315,463 |
5.0% |
17,439,000 |
|
RATIO ANALYSIS |
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|
Trading Performance |
|||||
|
Pre-tax Profit Margin |
0.80 |
-64.0% |
2.22 |
572.3% |
-0.47 |
|
Return On Capital Employed |
2.49 |
-65.7% |
7.25 |
633.1% |
-1.36 |
|
Return On Total Assets Employed |
1.25 |
-64.7% |
3.54 |
620.6% |
-0.68 |
|
Return On Net Assets Employed |
33.39 |
-89.6% |
321.45 |
287.5% |
82.96 |
|
Sales / Net Working Capital |
41.56 |
-71.3% |
144.60 |
181.8% |
-176.76 |
|
Operating Efficiency |
|||||
|
Stock Turnover Ratio |
15.86 |
9.6% |
14.47 |
-7.7% |
15.67 |
|
Debtor Days |
6.71 |
-49.5% |
13.28 |
61.4% |
8.23 |
|
Creditor Days |
90.32 |
3.8% |
86.99 |
-3.1% |
89.74 |
|
Short Term Stability |
|||||
|
Current Ratio |
1.07 |
4.9% |
1.02 |
4.1% |
0.98 |
|
Liquidity Ratio / Acid Ratio |
0.58 |
1.8% |
0.57 |
7.5% |
0.53 |
|
Current Debt Ratio |
1.14 |
-8.8% |
1.25 |
0.8% |
1.24 |
|
Long Term Stability |
|||||
|
Gearing |
39.30 |
-14.1% |
45.74 |
-25.1% |
61.08 |
|
Equity In Percentage |
0.44 |
7.3% |
0.41 |
0.0% |
0.41 |
|
Total Debt Ratio |
0.39 |
-15.2% |
0.46 |
-24.6% |
0.61 |
Payment
Expectations
|
PAYMENT
EXPECTATIONS |
|
|
Payment Expectation Days |
90.32 |
|
Day Sales Outstanding |
6.71 |
|
INDUSTRY
COMPARISON |
|
|
Activity Code |
1712 |
|
Activity Description |
Manufacture of paper and paperboard |
|
Industry Average Day Sales Outstanding |
87.86 |
|
Industry Average Payment Expectation Days |
65.01 |
|
INDUSTRY
QUARTILE ANALYSIS |
|
|
Payment
Expectation Days |
|
|
Payment Expectations - Lower |
50.66 |
|
Payment Expectations - Median |
73.06 |
|
Payment Expectations - Upper |
94.57 |
|
Day
Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
24.41 |
|
Day Sales Outstanding - Median |
50.82 |
|
Day Sales Outstanding - Upper |
77.22 |
Shareholders
No holding companies for this company.
No subsidaries for this company.
Court
Data
|
PROTESTED BILLS |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO DETAILS |
|
|
Business Number |
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|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
COMPANY DIRECTOR |
|
|
FullName |
CHIYODA GRAVURE K.K. |
|
Position |
Director |
|
Address |
1 OSAKI SHINAGAWA-KU TOKYO |
|
Postal Code |
0 |
|
Country |
Japan |
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COMPANY DIRECTOR |
|
|
FullName |
CHIYODA EXPRESS K.K. |
|
Position |
Director |
|
Address |
18 OSAKI-CHOME SHINAGAWA-KU TOKYO |
|
Postal Code |
0 |
|
Country |
Japan |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.79 |
|
UK Pound |
1 |
Rs.75.41 |
|
Euro |
1 |
Rs.61.48 |
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%)