MIRA INFORM REPORT
|
Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAURECIA EMISSIONS
CONTROL TECHNOLOGIES, MLADÁ BOLESLAV, S.R.O. |
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Registered Office : |
Východní průmyslová zóna,
Plazy 104 293 01 Mladá Boleslav |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.08.1999 |
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Com. Reg. No.: |
C/74794 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of other parts and accessories for motor vehicles |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
CZK19.600.000,- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY NAME & ADDRESS
FAURECIA EMISSIONS CONTROL TECHNOLOGIES, MLADÁ BOLESLAV, S.R.O.
Východní průmyslová zóna, Plazy 104
293 01 Mladá Boleslav
telephone: 00420/326 370 670 – 3
telefax: 00420/326 370 678
e-mail: roman.budik@emcontechnologies.com
Web: www.faurecia.com
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Company development |
Stagnant business development |
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Order situation |
Satisfactory course of business |
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Terms of payment |
No complaints, but occasional delays |
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Business connection |
Business connections appear permissible |
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Credit limit |
CZK19.600.000,- |
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Legal form |
Private limited company |
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Foundation |
03/08/1999 - Private limited company |
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Comp. Register |
13/01/2000, Městský soud v Praze, RegNr.: C/74794 |
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Share Capital |
13/01/2000 |
CZK |
22.500.000,- |
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||||
|
Shareholders |
ET Dutch Holdings B.V. |
CZK |
22.275.000,- |
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|
ET Dutch Holdings II B.V. |
CZK |
225.000,- |
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Management |
Bernard Lelievre (13.10.1955) |
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Guillaume Michel
Dominique Legras (27.03.1965) |
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Roman Budík (14.06.1965) |
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Thierry Yves Henri
Bollore (30.05.1963) |
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General Data |
Purchase, manufacture, assembling and sale |
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of exhaust systems. |
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Main activity: |
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Former name(s) |
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EMCON Technologies Czech Republic, s.r.o. |
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Trade name(s) |
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Export: |
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Import: |
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Address: |
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Italská 27, 120 00 Praha 2 |
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Staff |
2006 |
12 employees |
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2007 |
15 employees |
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2008 |
25 employees |
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2009 |
54 employees |
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2010 |
52 employees |
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2011 |
72 employees |
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and external workers as needed |
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Annual Sales |
2004 |
actual sales |
CZK |
975.676.000,- |
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|
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2005 |
actual sales |
CZK |
1.034.837.000,- |
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|
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2006 |
actual sales |
CZK |
1.134.502.000,- |
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|
|
2007 |
actual sales |
CZK |
1.128.436.000,- |
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|
|
2008 |
actual sales |
CZK |
1.235.349.000,- |
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|
|
2009 |
actual sales |
CZK |
1.963.313.000,- |
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|
|
2010 |
projected sales |
CZK |
2.193.000.000,- |
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|
|
|
The turnover for the year 2008 relates to a period of 15 months. |
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|
Property |
none |
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Balance sheets |
The enclosed balance of 2009 company's own data, -. (31.12.2009 - 1
CZK) |
|
|
The enclosed profit/loss account of 2009 company's own data, -.
(31.12.2009 - 1 CZK) |
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|
The enclosed balance of 2007. (30.09.2007 - 1 CZK) |
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The enclosed profit/loss account of 2007. (30.09.2007 - 1 CZK) |
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The enclosed balance of 2006. (30.09.2006 - 1 CZK) |
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The enclosed profit/loss account of 2006. (30.09.2006 - 1 CZK) |
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Remarks |
All the sources
of negative data accessible to public (insolvency registers, databases of
debtors of health insurance institutions, commercial bulletin, collection
database of Creditreform and others) are currently monitored. |
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Management: |
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Ing. Roman Budík - director |
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Ivo Augustin - economist, phone: 00420/ 326 370 672, |
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e-mail: ivo.augustin@faurecia.com |
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The company used business year 01.10. - 30.09. |
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Since 2008 the company uses accounting period 1.1. - 31.12. |
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The transitory period lasted from 1.10.2007 to 31.12.2008. |
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Bankers |
The Royal Bank of |
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Copyright: Creditreform
s.r.o. Praha |
This |
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|
balance |
30.09.2006
(CZK) |
30.09.2007
(CZK) |
31.12.2008
(CZK) |
31.12.2009
(CZK) |
|||||
|
r1 |
TOTAL ASSETS |
171.964.000 |
259.877.000 |
441.075.000 |
303.536.000 |
|||||
|
r2 |
Receivables for subscriptions |
|
|
0 |
0 |
|||||
|
r3 |
Fixed assets |
6.466.000 |
6.326.000 |
68.586.000 |
59.581.000 |
|||||
|
r4 |
Intangible fixed assets |
22.000 |
|
2.320.000 |
1.916.000 |
|||||
|
r7 |
Software |
22.000
|
|
2.320.000
|
1.916.000
|
|||||
|
r13 |
Tangible fixed assets |
6.444.000 |
6.326.000 |
66.266.000 |
57.665.000 |
|||||
|
r14 |
Lands |
|
|
|
0 |
|||||
|
r15 |
Constructions |
1.009.000
|
950.000
|
5.005.000
|
5.194.000
|
|||||
|
r16 |
Equipment |
5.435.000
|
5.376.000
|
61.007.000
|
52.471.000
|
|||||
|
r20 |
Tangible fixed assets under construction |
|
|
254.000
|
|
|||||
|
r23 |
Long-term financial assets |
|
|
0 |
0 |
|||||
|
r31 |
Current assets |
165.457.000 |
253.276.000 |
372.238.000 |
243.807.000 |
|||||
|
r32 |
Inventory |
34.268.000 |
40.555.000 |
64.586.000 |
42.495.000 |
|||||
|
r33 |
Materials |
5.502.000
|
8.426.000
|
41.969.000
|
17.986.000
|
|||||
|
r35 |
Finished products |
3.658.000
|
5.389.000
|
12.285.000
|
11.494.000
|
|||||
|
r37 |
Merchandise |
25.108.000
|
26.740.000
|
10.332.000
|
13.015.000
|
|||||
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r39 |
Long-term receivables |
|
|
2.472.000 |
0 |
|||||
|
r47 |
Deferred tax receivable |
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|
2.472.000
|
|
|||||
|
r48 |
Short-term receivables |
127.329.000 |
111.752.000 |
253.539.000 |
198.138.000 |
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|
r49 |
Trade receivables |
103.013.000
|
101.135.000
|
230.087.000
|
161.908.000
|
|||||
|
r50 |
Receivables from controlled and managed organizations |
7.271.000
|
|
|
|
|||||
|
r54 |
Due from state - tax receivable |
1.128.000
|
|
23.141.000
|
30.369.000
|
|||||
|
r55 |
Short-term deposits given |
474.000
|
607.000
|
311.000
|
859.000
|
|||||
|
r56 |
Estimated receivable |
15.443.000
|
10.010.000
|
0 |
5.000.000
|
|||||
|
r57 |
Other receivables |
|
|
|
2.000
|
|||||
|
r58 |
Short-term financial assets |
3.860.000 |
100.969.000 |
51.641.000 |
3.174.000 |
|||||
|
r59 |
Cash |
41.000
|
45.000
|
90.000
|
101.000
|
|||||
|
r60 |
Bank accounts |
3.819.000
|
100.924.000
|
51.551.000
|
3.073.000
|
|||||
|
r63 |
Accruals |
41.000 |
275.000 |
251.000 |
148.000 |
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|
r64 |
Deferred expenses |
41.000
|
275.000
|
251.000
|
148.000
|
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|
r67 |
TOTAL LIABILITIES |
171.964.000 |
259.877.000 |
441.075.000 |
303.536.000 |
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|
r68 |
Equity |
16.544.000 |
137.799.000 |
103.043.000 |
112.282.000 |
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|
r69 |
Registered capital |
22.500.000 |
22.500.000 |
22.500.000 |
22.500.000 |
|||||
|
r70 |
Registered capital |
22.500.000
|
22.500.000
|
22.500.000
|
22.500.000
|
|||||
|
r73 |
Capital funds |
|
122.108.000 |
122.108.000 |
122.108.000 |
|||||
|
r75 |
Other capital funds |
|
122.108.000
|
122.108.000
|
122.108.000
|
|||||
|
r78 |
Reserve funds, statutory reserve account for cooperatives,
and other retained earnings |
1.321.000 |
1.321.000 |
1.321.000 |
1.321.000 |
|||||
|
r79 |
Legal reserve fund / indivisible fund |
1.321.000
|
1.321.000
|
1.321.000
|
1.321.000
|
|||||
|
r81 |
Profit / loss - previous years |
-1.450.000 |
-7.281.000 |
-8.130.000 |
-42.886.000 |
|||||
|
r83 |
Accumulated losses from previous years |
-1.450.000
|
-7.281.000
|
-8.130.000
|
-42.886.000
|
|||||
|
r84 |
Profit / loss - current year (+/-) |
-5.827.000 |
-849.000 |
-34.756.000 |
9.239.000 |
|||||
|
r85 |
Other sources |
155.420.000 |
122.078.000 |
338.032.000 |
191.254.000 |
|||||
|
r86 |
Reserves |
|
|
1.549.000 |
2.842.000 |
|||||
|
r90 |
Other reserves |
|
|
1.549.000
|
2.842.000
|
|||||
|
r91 |
Long-term payables |
509.000 |
158.000 |
0 |
158.000 |
|||||
|
r101 |
Deferred tax liability |
509.000
|
158.000
|
|
158.000
|
|||||
|
r102 |
Short-term payables |
145.267.000 |
117.570.000 |
336.483.000 |
188.254.000 |
|||||
|
r103 |
Trade payables |
129.531.000
|
87.962.000
|
209.784.000
|
93.119.000
|
|||||
|
r104 |
Payables to controlled and managed organizations |
|
|
92.335.000
|
15.915.000
|
|||||
|
r107 |
Payroll |
305.000
|
327.000
|
976.000
|
1.289.000
|
|||||
|
r108 |
Payables to social securities and health insurance |
198.000
|
224.000
|
517.000
|
668.000
|
|||||
|
r109 |
Due from state - tax liabilities and subsidies |
12.513.000
|
16.201.000
|
206.000
|
241.000
|
|||||
|
r112 |
Estimated payables |
2.341.000
|
12.856.000
|
32.571.000
|
77.022.000
|
|||||
|
r113 |
Other payables |
379.000
|
|
94.000
|
|
|||||
|
r114 |
Bank loans and financial accommodations |
9.644.000 |
4.350.000 |
0 |
0 |
|||||
|
r115 |
Long-term bank loans |
|
|
0 |
0 |
|||||
|
r116 |
Short-term bank loans |
9.644.000
|
4.350.000
|
0 |
0 |
|||||
|
r117 |
Short-term accommodations |
|
|
0 |
0 |
|||||
|
r118 |
Accruals |
|
|
0 |
0 |
|||||
|
|
profit/loss account |
30.09.2006
(CZK) |
30.09.2007
(CZK) |
31.12.2008
(CZK) |
31.12.2009
(CZK) |
|||||
|
a1 |
Turnover |
1.134.502.000 |
1.128.436.000 |
1.235.349.000 |
1.963.313.000 |
|||||
|
a2 |
Revenues from sold goods |
961.156.000
|
923.596.000
|
783.920.000
|
363.941.000
|
|||||
|
a3 |
Expenses on sold goods |
933.999.000
|
898.542.000
|
772.866.000
|
358.750.000
|
|||||
|
a4 |
|
27.157.000 |
25.054.000 |
11.054.000 |
5.191.000 |
|||||
|
a5 |
Production |
170.525.000 |
206.366.000 |
452.078.000 |
1.599.250.000 |
|||||
|
a6 |
Revenues from own products and services |
173.346.000
|
204.840.000
|
451.429.000
|
1.599.372.000
|
|||||
|
a7 |
Change in inventory of own products |
-2.821.000
|
1.526.000
|
649.000
|
-122.000
|
|||||
|
a9 |
Production consumption |
189.067.000 |
210.400.000 |
467.844.000 |
1.566.364.000 |
|||||
|
a10 |
Consumption of material and energy |
154.200.000
|
185.652.000
|
415.437.000
|
1.458.859.000
|
|||||
|
a11 |
Services |
34.867.000
|
24.748.000
|
52.407.000
|
107.505.000
|
|||||
|
a12 |
Added value |
8.615.000 |
21.020.000 |
-4.712.000 |
38.077.000 |
|||||
|
a13 |
Personnel expenses |
6.819.000 |
8.003.000 |
15.740.000 |
26.137.000 |
|||||
|
a14 |
Wages and salaries |
4.937.000
|
5.822.000
|
11.313.000
|
19.196.000
|
|||||
|
a16 |
Social security expenses and health insurance |
1.771.000
|
2.023.000
|
3.934.000
|
6.343.000
|
|||||
|
a17 |
Other social expenses |
111.000
|
158.000
|
493.000
|
598.000
|
|||||
|
a18 |
Taxes and fees |
9.000
|
9.000
|
5.000
|
93.000
|
|||||
|
a19 |
Depreciations of intangible and tangible assets |
3.163.000
|
3.514.000
|
8.119.000
|
13.337.000
|
|||||
|
a20 |
Revenues from disposals of fixed assets and materials |
470.000 |
413.000 |
0 |
0 |
|||||
|
a21 |
Revenues from disposals of fixed assets |
2.000
|
2.000
|
0 |
|
|||||
|
a22 |
Revenues from disposals of materials |
468.000
|
411.000
|
0 |
|
|||||
|
a23 |
Net book value of disposed fixed assets and materials |
387.000 |
301.000 |
0 |
0 |
|||||
|
a24 |
Net book value of sold fixed assets |
|
|
0 |
|
|||||
|
a25 |
Net book value of sold material |
387.000
|
301.000
|
0 |
|
|||||
|
a26 |
Change in operating reserves and adjustments and complex
deferred costs ( + / - ) |
2.245.000
|
-14.000
|
2.187.000
|
996.000
|
|||||
|
a27 |
Other operating revenues |
4.688.000
|
1.288.000
|
18.559.000
|
2.079.000
|
|||||
|
a28 |
Other operating expenses |
7.271.000
|
4.379.000
|
23.138.000
|
6.414.000
|
|||||
|
a31 |
Operating profit / loss |
-6.121.000 |
6.529.000 |
-35.342.000 |
-6.821.000 |
|||||
|
a43 |
Interest revenues |
104.000
|
111.000
|
2.394.000
|
684.000
|
|||||
|
a44 |
Interest expenses |
105.000
|
374.000
|
798.000
|
2.078.000
|
|||||
|
a45 |
Other financial revenues |
19.780.000
|
16.017.000
|
45.293.000
|
92.913.000
|
|||||
|
a46 |
Other financial expenses |
18.339.000
|
21.498.000
|
48.945.000
|
72.715.000
|
|||||
|
a49 |
Profit / loss from financial operations ( transactions ) |
1.440.000 |
-5.744.000 |
-2.056.000 |
18.804.000 |
|||||
|
a50 |
Income tax on ordinary income |
1.146.000 |
1.634.000 |
-2.642.000 |
2.744.000 |
|||||
|
a51 |
Due tax |
697.000
|
1.985.000
|
-12.000
|
114.000
|
|||||
|
a52 |
Tax deferred |
449.000
|
-351.000
|
-2.630.000
|
2.630.000
|
|||||
|
a53 |
Operating profit / loss ordinary activity |
-5.827.000 |
-849.000 |
-34.756.000 |
9.239.000 |
|||||
|
a59 |
Operating profit / loss extraordinary activity |
|
|
|
0 |
|||||
|
a61 |
Profit / loss of current accounting period (+/-) |
-5.827.000 |
-849.000 |
-34.756.000 |
9.239.000 |
|||||
|
a62 |
Profit / loss before tax (+/-) |
-4.681.000
|
785.000
|
-37.398.000
|
11.983.000
|
|||||
|
|
Operating cash flow |
|
|
-81.589.000 |
|
|||||
|
|
Investment cash flow |
|
|
-55.724.000 |
|
|||||
|
|
Financial cash flow |
|
|
0 |
|
|||||
|
|
Receivables after due date total |
|
892.000 |
59.707.000 |
2.146.000 |
|||||
|
|
Liabilities after due date total |
|
805.000 |
40.029.000 |
3.185.000 |
|||||
|
Balance indices |
|
30.09.2006 |
30.09.2007 |
31.12.2008 |
31.12.2009 |
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
-2,72 |
0,30 |
-8,48 |
3,95 |
|
Return on equity ROE (in %) |
a62/r68 * 100 |
-28,29 |
0,57 |
-36,29 |
10,67 |
|
Return on sales ROS (in %) |
a62/a1 * 100 |
-0,41 |
0,07 |
-3,03 |
0,61 |
|
Turnover of receivables (in days) |
r49/a1 * 365 |
33,14 |
32,71 |
67,98 |
30,10 |
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
41,67 |
28,45 |
61,98 |
17,31 |
|
Turnover of inventories (days) |
r32/a1 * 365 |
11,02 |
13,12 |
19,08 |
7,90 |
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
10.546,00 |
131.356,00 |
35.755,00 |
55.553,00 |
|
Ratio of accounts payable to accounts receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
n/a |
n/a |
76,08 |
105,16 |
|
Ratio of profit/loss to tangible assets (in%) |
r3 / a1 * 100 |
0,57 |
0,56 |
5,55 |
3,03 |
|
Current ratio |
r31 / (r102+r116+r117) |
1,07 |
2,08 |
1,11 |
1,30 |
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
0,85 |
1,74 |
0,91 |
1,07 |
|
Cash ratio |
r58 / (r102+r116+r117) |
0,02 |
0,83 |
0,15 |
0,02 |
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
90,38 |
46,98 |
76,64 |
63,01 |
|
Debt ratio II (in %) |
r85/r67 * 100 |
90,38 |
46,98 |
76,64 |
63,01 |
|
|
|||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
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.