MIRA INFORM REPORT
|
Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
MAVANE SA |
|
|
|
|
Registered Office : |
161, Dreve Richelle, Waterloo |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
05.09.1962 |
|
|
|
|
Com. Reg. No.: |
402681147 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of paper and paperboard |
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 : |
(€) 525,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
|
|
Company Number |
402681147 |
|
Name |
|
|
Address |
161, DREVE RICHELLE, WATERLOO |
|
Post Code |
|
|
Telephone Number |
022800558 |
|
Fax Number |
022305946 |
|
Establishment Date |
05-09-1962 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
6 |
|
Activity Description |
Manufacture of paper and paperboard |
|
Activity Code |
17120 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
-- |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
167877 |
|
Event Description |
Reappointment commissioner |
|
Limit |
|
|
Credit Information |
|
|
Credit Limit (€) |
525,000 |
|
Purchase Limit (€) |
2,300,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
712,933 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
145.10 |
|
Day Sales Outstanding |
268.86 |
|
Industry Comparison |
|
|
Activity Code |
1712 |
|
Activity Description |
Manufacture of paper and paperboard |
|
Industry Average Day Sales Outstanding |
85.19 |
|
Industry Average Payment Expectation Days |
62.70 |
|
Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
48.44 |
|
Payment Expectations - Median |
69.65 |
|
Payment Expectations - Upper |
91.28 |
|
|
|
|
Day Sales Outstanding - Lower |
23.04 |
|
Day Sales Outstanding - Median |
49.25 |
|
Day Sales Outstanding - Upper |
69.94 |
|
Company Shareholder Holding |
|
|
Shareholder Detail |
|
|
Company Number |
445776267 |
|
Company Name |
SINIM SA |
|
Address |
RUE WILLEMS 14/2500, ST-JOSSE-TEN-NOODE |
|
Postal Code |
1210 |
|
Country |
|
|
Share Percentage |
100 |
|
Annual Accounts Date |
01-12-2007 |
|
Shareholder Detail |
|
|
Company Number |
450970123 |
|
Company Name |
SITKA SA |
|
Address |
AV DES PETITS CHAMPS 93, WATERLOO |
|
Postal Code |
1410 |
|
Country |
|
|
Share Percentage |
100 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
405699332 |
|
Company Name |
CONTIPACK SA |
|
Address |
DREVE RICHELLE 161, WATERLOO |
|
Postal Code |
1410 |
|
Country |
|
|
Share Percentage |
99.90 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
406129793 |
|
Company Name |
EDITIONS MODERNES SPRL |
|
Address |
AV DES PETITS CHAMPS 93, WATERLOO |
|
Postal Code |
1410 |
|
Country |
|
|
Share Percentage |
99.90 |
|
Annual Accounts Date |
01-12-2009 |
Company Accounts
|
Period |
|||
|
Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
9,071,187 |
11,858,610 |
10,779,195 |
|
Total Operating Expenses |
9,020,789 |
11,466,381 |
10,677,034 |
|
Operating Result |
50,398 |
392,229 |
102,161 |
|
Total Financial Income |
432,070 |
457,700 |
271,179 |
|
Total Financial Expenses |
455,522 |
634,472 |
344,636 |
|
Results on Ordinary Operations Before Tax |
26,946 |
215,457 |
28,704 |
|
Taxation |
-5,072 |
49,063 |
21,409 |
|
Results on Ordinary Operations After Tax |
32,018 |
166,394 |
7,295 |
|
Extraordinary Items |
-11,184 |
-156,185 |
10,538 |
|
Net Result |
20,834 |
10,209 |
17,833 |
|
Other Information |
|||
|
Dividends |
- |
- |
15,000 |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
376,533 |
459,156 |
451,332 |
|
- Wages & Salaries |
284,688 |
347,810 |
364,667 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
75,001 |
74,586 |
73,923 |
|
- Other Employee Costs |
16,844 |
36,760 |
12,742 |
|
Amortization & Depreciation |
46,641 |
60,951 |
52,048 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
1,035 |
1,553 |
2,070 |
|
Tangible Fixed Assets |
73,351 |
116,610 |
225,875 |
|
- Land And Buildings |
0 |
0 |
0 |
|
- Plant And Machinery |
0 |
3,339 |
6,678 |
|
- Other Tangible Assets |
73,351 |
113,271 |
219,197 |
|
Financial Fixed Assets |
297,557 |
318,783 |
1,193,783 |
|
Total Fixed Assets |
371,943 |
436,946 |
1,421,728 |
|
Inventories |
0 |
0 |
6,194 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
0 |
0 |
6,194 |
|
Trade Debtors |
6,681,826 |
8,360,999 |
6,554,242 |
|
Cash |
142,481 |
488,468 |
9,708 |
|
- Miscellaneous Current Assets |
29,698 |
313,871 |
14,814 |
|
Total Current Assets |
7,979,484 |
9,853,816 |
6,674,830 |
|
Current Liabilities |
|||
|
- Trade Creditors |
3,585,955 |
4,407,346 |
3,779,138 |
|
- Short Term Group Loans |
950,065 |
952,176 |
368,680 |
|
- Other Short Term Loans |
2,433,491 |
3,777,180 |
2,725,171 |
|
- Miscellaneous Current Liabilities |
-82,570 |
-352,430 |
-201,113 |
|
Total Current Liabilities |
6,886,941 |
8,784,272 |
6,671,876 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
0 |
0 |
0 |
|
- Other Long Term Liabilities |
24,319 |
87,157 |
15,559 |
|
Total Long Term Debts |
24,319 |
87,157 |
15,559 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
1,350,000 |
1,350,000 |
1,350,000 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
90,167 |
69,333 |
59,123 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
1,440,167 |
1,419,333 |
1,409,123 |
|
|
|||
|
Working Capital |
1,092,543 |
1,069,544 |
2,954 |
|
Net Worth |
1,439,132 |
1,417,780 |
1,407,053 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
0.30 |
1.82 |
0.27 |
|
Return On Capital Employed |
1.84 |
14.30 |
2.01 |
|
Return On Total Assets Employed |
0.32 |
2.09 |
0.35 |
|
Return On Net Assets Employed |
2.47 |
20.14 |
971.70 |
|
Sales / Net Working Capital |
8.30 |
11.09 |
3649.02 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
0 |
0 |
0.06 |
|
Debtor Days |
268.86 |
257.35 |
221.94 |
|
Creditor Days |
145.10 |
140.30 |
129.19 |
|
Short Term Stability |
|||
|
Current Ratio |
1.16 |
1.12 |
1 |
|
Liquidity Ratio / Acid Ratio |
1.16 |
1.12 |
1 |
|
Current Debt Ratio |
4.78 |
6.19 |
4.73 |
|
Long Term Stability |
|||
|
Gearing |
234.94 |
333.21 |
219.56 |
|
Equity In Percentage |
0.17 |
0.14 |
0.17 |
|
Total Debt Ratio |
2.35 |
3.33 |
2.20 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
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City of Drawer |
-- |
|
NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
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Date of Summons |
|
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Labour Court |
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
PIERRE-YVES MAON |
|
Birth Date |
1956-02-27 |
|
Position Description |
Managing director |
|
Address |
93 AVENUE DES PETITS CHAMPS WATERLOO |
|
Country |
-- |
|
Postal Code |
1410 |
|
Birth Date |
|
|
Company Director |
|
|
Full Name |
LILIANE BOZINOVSKI |
|
Birth Date |
1962-10-22 |
|
Position Description |
Director |
|
Address |
93 AVENUE DES PETITS CHAMPS WATERLOO |
|
Country |
-- |
|
Postal Code |
1410 |
|
Birth Date |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.40 |
|
UK Pound |
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
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 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.