MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
LUYBEN ALGEMENE HANDELSMAATSCHAPPIJ |
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Registered Office : |
Kasteellaan 18 1081 BRUSSEL |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
07.11.1968 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Buying and Selling of
Deep Frozen Articles, such as Fish, Vegetables and Meat |
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 : |
Regular |
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Litigation : |
Clear |
name & address
Luyben Algemene
Handelsmaatschappij - Luyben Societe Commerciale
Kasteellaan 18
1081 BRUSSEL
Tel.:+32
(0)2-4144409
Fax.:+32
(0)2-4145895
Legal
status
NV Public limited company
[nat. law]
Founded
07/11/1968, P.l.c. since
01/12/1968
Trade
register
54348921
Capital
Nominal EUR 500.000,--
Issued and paid up EUR 500.000,--
Management
J.L.H. Luyben, Dolfijnenstraat 1, 1080 Sint-Jans-Molenbeek
J.H.L.G. Luyben, Zijpstraat 78, 1780 Wemmel
R.J. Huystee, Parkhove 607, 2171 JD Sassenheim - the
Netherlands
Activity
Buying and selling
of deep frozen articles, such as fish, vegetables and meat.
Staff
6 employees
Turnover
Net turnover:
2006 Euro 79.602.007
2005 Euro 88.834.008
2004 Euro 74.872.000
Real
estate
The business
premises at the mentioned address is owned by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 1.017.008
2005 Euro 74.988
2004 Euro 1.461.010
The
shareholders equity was as of:
31/12/2006 Euro 8.247.988
31/12/2005 Euro 7.229.988
31/12/2004 Euro 7.155.992
The working
capital was as of:
31/12/2006 Euro 9.976.003
31/12/2005 Euro 6.196.000
31/12/2004 Euro 6.616.005
Import :
the EU
Export :
the USA, Africa and the Middle East
Subsidairies
(100 %):
Silvana
Shipping SE,
Mar Rise
Shipping & Co. Ltd. SE
Nikona
Shipping Co Ltd. SE
All 3 are
located:
Arch
Makarios III 284, 3105 Limassol-Cyprus
Website :
www.luyben.be/
Banks
KBC Ban
ING Bank
Fortis Bank
VAT-nr.
BE406177305
Mode
of payment
Within terms
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 277.988 249.009
Financial assets 1.671.001 4.028.989
Miscellaneous fixed assets 0 0
Total fixed assets 1.948.988 4.278.989
Stock 1.923.009 2.954.990
Receivables 18.382.991 19.316.012
Shares 0 0
Liquid assets 2.008 105.999
Miscellaneous current assets 0 0
Total current assets 20.308.008 22.377.001
Shareholders
equity 7.229.988 8.247.988
Provisions 0 0
Long-term liabilities 915.000 6.007.005
Current liabilities 14.112.008 12.400.998
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 22.256.996 26.655.991
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 88.834.008 79.602.007
Other income 1.124.990
659.000
Total expenses 88.772.009 78.679.000
Operating profit 1.186.989 1.582.007
Balance financial P/L -1.068.000 -167.006
Net profit/loss 1] 118.989
1.415.001
Taxation 44.001 409.000
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 74.988 1.006.001
Balance extraordinary P/L 0 11.006
Taxation 0 0
Extraordinary P/L 2] 0 11.006
Res. sub. companies 2] 0 0
Minority interests 0 992
Miscellaneous P/L 0 0
Net result 74.988 1.017.008
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 32,5 30,9
Equity/outside capital 48,1 44,8
LIQUIDITY
Current ratio 1,4 1,8
Acid test 1,3 1,6
RATES OF RETURN %
Total assets 0,5 5,3
Shareholders
equity 1,6 17,2
Pre tax margin
% 0,1 1,8
Turnover rate 399,1 298,6
(x
1) (x 1)
-------------------- --------------------
Working capital 6.196.000 9.976.003
Shareholders
equity + Equalization acc. 7.229.988 8.247.988
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)