MIRA INFORM
REPORT
|
Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
BALTA INDUSTRIES NV |
|
|
|
|
Registered Office : |
2, Wakkensteenweg, Wielsbeke 8700 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
01.10.1990 |
|
|
|
|
Com. Reg. No.: |
441533409 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of carpets and rugs |
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 : |
(€) 3,850,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
441533409 |
|
Name |
|
|
Address |
2, WAKKENSTEENWEG, WIELSBEKE |
|
Post Code |
8700 |
|
Telephone Number |
056622274 |
|
Fax Number |
056622321 |
|
Establishment Date |
01-10-1990 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
2631 |
|
Activity Description |
Manufacture of carpets and rugs |
|
Activity Code |
13930 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
KANEGEMSTRAAT |
|
House Number |
15 |
|
City |
TIELT |
|
Postal Code |
8700 |
|
Trade Registered Number |
95764 |
|
Trade Registered Entry Date |
01-05-2002 |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
15716 |
|
Event Description |
Appointment |
|
Limit |
|
|
Credit Information |
|
|
Credit Limit (€) |
3,850,000 |
|
Purchase Limit (€) |
79,000,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
169,636 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
36.25 |
|
Day Sales Outstanding |
78.54 |
|
Industry Comparison |
|
|
Activity Code |
1393 |
|
Activity Description |
Manufacture of carpets and rugs |
|
Industry Average Day Sales Outstanding |
110.87 |
|
Industry Average Payment Expectation Days |
80.34 |
|
Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
41.92 |
|
Payment Expectations - Median |
72.24 |
|
Payment Expectations - Upper |
108.86 |
|
|
|
|
Day Sales Outstanding - Lower |
32.80 |
|
Day Sales Outstanding - Median |
53.63 |
|
Day Sales Outstanding - Upper |
86.32 |
|
Company Shareholder Holding |
|
|
Shareholder Detail |
|
|
Company Number |
449397139 |
|
Company Name |
COORDINATION CENTRE BALTA GROUP NV |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
52.50 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
865751823 |
|
Company Name |
BALTA HOLDINGS NV |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
47.50 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
441533310 |
|
Company Name |
BALTA TRADING COMV |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
15883749 |
|
Company Name |
BALTA SARL |
|
Address |
BOULEVARD ROYAL 28, 2449 LUXEMBOURG |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
15883452 |
|
Company Name |
BALTEIRE SARL |
|
Address |
RUE ROBERT STUMPER 7A, 2557 LUXEMBOURG |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
100 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder
Detail |
|
|
Company Number |
441533310 |
|
Company Name |
BALTA TRADING COMV |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
99.99 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
449397139 |
|
Company Name |
COORDINATION CENTRE BALTA GROUP NV |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
99.99 |
|
Annual Accounts Date |
01-12-2007 |
|
Shareholder Detail |
|
|
Company Number |
15883650 |
|
Company Name |
BALTA REINSURANCE S.A. |
|
Address |
RUE DE BITBOURG 19, 2015 LUXEMBOURG |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
99.96 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
15883353 |
|
Company Name |
GRANTIL SA |
|
Address |
RUE AMPERE 7, 51000 CHALONS EN CHAMPAG |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
99.93 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
869464943 |
|
Company Name |
BALTAM BVBA |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
99 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
475563581 |
|
Company Name |
TRINTERIO NV |
|
Address |
WAKKENSTEENWEG 37 B, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
50 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
436674895 |
|
Company Name |
BEDRIJVENCENTRUM REGIO WAREGEM NV |
|
Address |
KALKHOEVESTRAAT 1, WAREGEM |
|
Postal Code |
8790 |
|
Country |
|
|
Share Percentage |
6.66 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
15883551 |
|
Company Name |
BALTA FLOORCOVERING AS |
|
Address |
ORGANIZE SANAYI BOLGESI 201 CADDE 16, TR64100 USAK |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
865751823 |
|
Company Name |
BALTA HOLDINGS NV |
|
Address |
WAKKENSTEENWEG 2, WIELSBEKE |
|
Postal Code |
8710 |
|
Country |
|
|
Share Percentage |
0.01 |
|
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 |
396,206,086 |
433,085,220 |
484,901,203 |
|
Total Operating Expenses |
359,121,289 |
412,946,219 |
433,533,376 |
|
Operating Result |
37,084,797 |
20,139,001 |
51,367,827 |
|
Total Financial Income |
78,200,126 |
61,794,507 |
85,753,111 |
|
Total Financial Expenses |
40,472,337 |
53,311,614 |
60,720,986 |
|
Results on Ordinary Operations Before Tax |
26,442,836 |
-21,689,638 |
16,559,659 |
|
Taxation |
151,287 |
1,812,990 |
274,281 |
|
Results on Ordinary Operations After Tax |
26,291,549 |
-23,502,628 |
16,285,378 |
|
Extraordinary Items |
1,410,627 |
91,077,285 |
13,166,438 |
|
Net Result |
28,004,750 |
71,200,637 |
28,208,846 |
|
Other Information |
|||
|
Dividends |
- |
- |
33,900,000 |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
112,633,495 |
113,884,814 |
121,994,933 |
|
- Wages & Salaries |
81,305,417 |
82,633,372 |
89,714,329 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
27,782,216 |
27,947,417 |
29,072,036 |
|
- Other Employee Costs |
3,545,862 |
3,304,025 |
3,208,568 |
|
Amortization & Depreciation |
9,730,929 |
10,907,234 |
14,333,016 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
30,457,973 |
35,122,234 |
40,571,759 |
|
- Land And Buildings |
18,596,436 |
20,173,876 |
21,405,615 |
|
- Plant And Machinery |
8,269,125 |
11,483,937 |
15,822,887 |
|
- Other Tangible Assets |
3,592,412 |
3,464,421 |
3,343,257 |
|
Financial Fixed Assets |
418,729,759 |
562,441,114 |
485,400,523 |
|
Total Fixed Assets |
449,187,732 |
597,563,348 |
525,972,282 |
|
Inventories |
76,577,377 |
76,898,108 |
95,849,329 |
|
- Raw Materials & Consumables |
39,010,168 |
40,494,963 |
52,687,217 |
|
- Work in Progress |
11,702,379 |
10,074,607 |
11,859,910 |
|
- Finished Goods |
25,864,830 |
26,328,538 |
31,302,202 |
|
- Other Stocks |
0 |
0 |
0 |
|
Trade Debtors |
85,256,673 |
101,977,230 |
110,241,899 |
|
Cash |
32,861 |
3,627,444 |
63,333 |
|
- Miscellaneous Current Assets |
843,250 |
1,909,679 |
1,630,711 |
|
Total Current Assets |
170,024,402 |
190,177,490 |
215,633,048 |
|
Current Liabilities |
|||
|
- Trade Creditors |
35,668,300 |
47,574,559 |
50,079,896 |
|
- Short Term Group Loans |
380,467,206 |
561,950,400 |
572,081,023 |
|
- Other Short Term Loans |
117,590,580 |
168,652,817 |
192,395,220 |
|
- Miscellaneous Current Liabilities |
-353,221,794 |
-534,447,589 |
-535,396,560 |
|
Total Current Liabilities |
180,504,292 |
243,730,187 |
279,159,579 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
255,989,648 |
388,194,907 |
373,297,099 |
|
- Other Long Term Loans |
255,989,648 |
388,194,907 |
373,297,099 |
|
- Other Long Term Liabilities |
-232,862,412 |
-363,965,370 |
-344,534,018 |
|
Total Long Term Debts |
279,116,884 |
412,424,444 |
402,060,180 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
45,470,418 |
45,470,418 |
45,470,418 |
|
- Share Premium Account |
160,266 |
160,266 |
160,266 |
|
- Reserves |
113,960,274 |
85,955,524 |
14,754,887 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
159,590,958 |
131,586,208 |
60,385,571 |
|
|
|||
|
Working Capital |
-10,479,890 |
-53,552,697 |
-63,526,531 |
|
Net Worth |
159,590,958 |
131,586,208 |
60,385,571 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
6.67 |
-5.01 |
3.42 |
|
Return On Capital Employed |
6.03 |
-3.99 |
3.58 |
|
Return On Total Assets Employed |
4.27 |
-2.75 |
2.23 |
|
Return On Net Assets Employed |
-252.32 |
40.50 |
-26.07 |
|
Sales / Net Working Capital |
-37.81 |
-8.09 |
-7.63 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
19.33 |
17.76 |
19.77 |
|
Debtor Days |
78.54 |
85.95 |
82.98 |
|
Creditor Days |
36.25 |
42.05 |
42.16 |
|
Short Term Stability |
|||
|
Current Ratio |
0.94 |
0.78 |
0.77 |
|
Liquidity Ratio / Acid Ratio |
0.52 |
0.46 |
0.43 |
|
Current Debt Ratio |
1.13 |
1.85 |
4.62 |
|
Long Term Stability |
|||
|
Gearing |
632.89 |
1145.25 |
2502.37 |
|
Equity In Percentage |
0.26 |
0.17 |
0.08 |
|
Total Debt Ratio |
6.33 |
11.45 |
25.02 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of Drawer |
-- |
|
NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
FILIEP BALCAEN |
|
Birth Date |
1960-02-09 |
|
Position Description |
Director |
|
Address |
52 RUE DU BOIS JACQUET SPIERE-HELKIJN |
|
Country |
-- |
|
Postal Code |
8587 |
|
Birth Date |
2016-01-01 |
|
Company Director |
|
|
Full Name |
JULIAN HUXTABLE |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
0 BEACONSFIELD ROAD CHELWOOD GATE WEST |
|
Country |
United Kingdom |
|
Postal Code |
0 |
|
Birth Date |
2016-01-01 |
|
Company Director |
|
|
Full Name |
EDMUND WILLIAMS |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
54 BALFERN STREET LONDON SW 11 3EN |
|
Country |
United Kingdom |
|
Postal Code |
0 |
|
Birth Date |
2016-01-01 |
|
Company Director |
|
|
Full Name |
ALESSANDRO BARONI |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
5 VIA RAVIZZA 20149 MILANO |
|
Country |
Italy |
|
Postal Code |
0 |
|
Birth Date |
2016-01-01 |
|
Company Director |
|
|
Full Name |
LEMON BVBA |
|
Birth Date |
|
|
Position Description |
Managing director |
|
Address |
3 ZEGERSDREEF BRASSCHAAT |
|
Country |
-- |
|
Postal Code |
2930 |
|
Birth Date |
2015-01-01 |
|
Company Director |
|
|
Full Name |
DIMACOR BVBA |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
82 LAUDINNESTRAAT VLEZENBEEK |
|
Country |
-- |
|
Postal Code |
1602 |
|
Birth Date |
2016-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.77 |
|
UK Pound |
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
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.