MIRA INFORM REPORT
|
Report Date : |
25.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNITED BELGIAN MILLS NV |
|
|
|
|
Registered Office : |
Sint-Katelijnevest 54 Antwerpen 2000 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
30.06.2010 |
|
|
|
|
Date of Incorporation : |
17.06.1955 |
|
|
|
|
Com. Reg. No.: |
402833575 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of milling products |
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 : |
1,050,000 (€) |
|
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 – 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 Summary |
|
|
Business Name |
UNITED BELGIAN MILLS NV |
|
Business Number |
402833575 |
|
Address |
SINT-KATELIJNEVEST 54 ANTWERPEN |
|
Post Code |
2000 |
|
Telephone |
032322333 |
|
Fax Number |
032340749 |
|
Date of Establishment |
17/06/1955 |
|
Number of Employees |
10 |
|
Credit Information Summary |
|
|
Company Status |
ACTIVE |
|
Credit Limit (€) |
1,050,000 |
|
Purchase Limit (€) |
14,600,000 |
|
Date of Deposit at Registry |
10/12/2010 |
|
Date of Last Accounts |
30/06/2010 |
|
Turnover |
72,811,485 |
|
Results of Ordinary Operations Before Tax |
-136 |
|
Networth |
1,911,707 |
|
Past Payments |
|
|
Payment Expectation Days |
47.38 |
|
Days Sales Outstanding |
53.97 |
|
Industry Average Payment Expectation Days |
38.01 |
|
Industry Average Day Sales Outstanding |
101.14 |
|
Court Data Summary |
|
|
bankruptcy details |
|
|
Court Action Type |
None |
|
Protested Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
21/06/2010 |
Company
Information
|
company details |
|
|
Business Number |
402833575 |
|
Name |
UNITED BELGIAN MILLS NV |
|
Fax Number |
032340749 |
|
Establishment Date |
17/06/1955 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Manufacture of milling products |
|
Activity Code |
10610 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
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Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
// |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
// |
|
Latest Event |
|
|
Serial Number |
35660 |
|
Event Description |
Appointment commissioner |
Accounts
& Ratio
|
Period |
|||||
|
Accounts End Date |
30/06/2010 |
% |
30/06/2009 |
% |
30/06/2008 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit & Loss |
|||||
|
Turnover |
72,811,485 |
-27.2% |
99,981,873 |
-15.2% |
117,950,931 |
|
Total Operating Expenses |
72,280,468 |
-27.8% |
100,159,895 |
-15.3% |
118,207,160 |
|
Operating Result |
531,017 |
398.3% |
-178,022 |
30.5% |
-256,229 |
|
Total Financial Income |
959,910 |
-53.4% |
2,059,494 |
185.8% |
720,557 |
|
Total Financial Expenses |
1,482,800 |
-16.9% |
1,783,685 |
348.5% |
397,714 |
|
Results on Ordinary Operations Before Tax |
-18,839 |
-195.4% |
19,750 |
116.4% |
-120,793 |
|
Taxation |
-18,703 |
-278.9% |
10,453 |
176.9% |
-13,592 |
|
Results on Ordinary Operations After Tax |
-136 |
-101.5% |
9,297 |
108.7% |
-107,201 |
|
Extraordinary Items |
3,719 |
784.9% |
-543 |
-100.4% |
120,726 |
|
Net Result |
3,583 |
-59.1% |
8,754 |
-35.3% |
13,525 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
926,403 |
10.9% |
835,063 |
-21.4% |
1,062,934 |
|
- Wages & Salaries |
623,724 |
-3.6% |
646,771 |
-10.9% |
725,715 |
|
- Social Security Contributions |
155,752 |
12.1% |
138,892 |
-29.1% |
195,814 |
|
- Other Employee Costs |
146,927 |
197.4% |
49,400 |
-65.1% |
141,405 |
|
Amortization & Depreciation |
29,923 |
50.7% |
19,850 |
-60.9% |
50,818 |
|
Balance Sheet |
|||||
|
Accounts End Date |
30/06/2010 |
% |
30/06/2009 |
% |
30/06/2008 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
46,316 |
36.1% |
34,030 |
-36.4% |
53,471 |
|
- Land And Buildings |
0 |
- |
0 |
- |
0 |
|
- Plant And Machinery |
373 |
-55.5% |
839 |
-57.4% |
1,969 |
|
- Other Tangible Assets |
45,943 |
38.4% |
33,191 |
-35.6% |
51,502 |
|
Financial Fixed Assets |
2,260 |
28.4% |
1,760 |
0.0% |
1,760 |
|
Total Fixed Assets |
48,576 |
35.7% |
35,790 |
-35.2% |
55,231 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
35,677 |
37.2% |
26,012 |
-13.9% |
30,212 |
|
- Work in Progress |
1,734,449 |
4.6% |
1,657,565 |
-7.7% |
1,795,672 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
0 |
- |
0 |
- |
0 |
|
Trade Debtors |
10,766,129 |
10.9% |
9,705,964 |
-27.6% |
13,398,067 |
|
Cash |
1,199,140 |
-50.0% |
2,397,407 |
157.2% |
932,274 |
|
- Miscellaneous Current Assets |
32,775 |
-77.3% |
144,329 |
209.2% |
46,684 |
|
Total Current Assets |
14,372,007 |
-3.8% |
14,935,864 |
-13.8% |
17,328,828 |
|
|
|||||
|
- Trade Creditors |
9,382,073 |
-5.3% |
9,908,723 |
-35.2% |
15,281,980 |
|
- Short Term Group Loans |
9,293,732 |
1.1% |
9,189,046 |
-31.3% |
13,378,756 |
|
- Other Short Term Loans |
274,606 |
-73.1% |
1,019,119 |
- |
0 |
|
- Miscellaneous Current Liabilities |
-6,973,450 |
3.2% |
-7,205,932 |
45.7% |
-13,280,807 |
|
Total Current Liabilities |
11,976,961 |
-7.2% |
12,910,956 |
-16.1% |
15,379,929 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Liabilities |
531,915 |
248.6% |
152,574 |
45.6% |
104,760 |
|
Total Long Term Debts |
531,915 |
248.6% |
152,574 |
45.6% |
104,760 |
|
|
|||||
|
- Issued Share Capital |
1,240,000 |
0.0% |
1,240,000 |
0.0% |
1,240,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
671,707 |
0.5% |
668,124 |
1.3% |
659,370 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
1,911,707 |
0.2% |
1,908,124 |
0.5% |
1,899,370 |
|
|
|||||
|
Working Capital |
2,395,046 |
18.3% |
2,024,908 |
3.9% |
1,948,899 |
|
Net Worth |
1,911,707 |
0.2% |
1,908,124 |
0.5% |
1,899,370 |
|
Ratio Analysis |
||||||
|
Trading Performance |
||||||
|
Pre-tax Profit Margin |
-0.03 |
-250.0% |
0.02 |
120.0% |
-0.10 |
|
|
Return On Capital Employed |
-0.77 |
-180.2% |
0.96 |
115.9% |
-6.03 |
|
|
Return On Total Assets Employed |
-0.13 |
-200.0% |
0.13 |
118.8% |
-0.69 |
|
|
Return On Net Assets Employed |
-0.79 |
-180.6% |
0.98 |
115.8% |
-6.20 |
|
|
Sales / Net Working Capital |
30.40 |
-38.4% |
49.38 |
-18.4% |
60.52 |
|
|
Operating Efficiency |
|
|||||
|
Stock Turnover Ratio |
2.43 |
44.6% |
1.68 |
8.4% |
1.55 |
|
|
Debtor Days |
53.97 |
52.3% |
35.43 |
-14.5% |
41.46 |
|
|
Creditor Days |
47.38 |
31.2% |
36.11 |
-23.5% |
47.19 |
|
|
Short Term Stability |
|
|||||
|
Current Ratio |
1.20 |
3.4% |
1.16 |
2.7% |
1.13 |
|
|
Liquidity Ratio / Acid Ratio |
1.05 |
1.9% |
1.03 |
2.0% |
1.01 |
|
|
Current Debt Ratio |
6.27 |
-7.4% |
6.77 |
-16.4% |
8.10 |
|
|
Long Term Stability |
|
|||||
|
Gearing |
500.51 |
-6.4% |
534.98 |
-24.0% |
704.38 |
|
|
Equity In Percentage |
0.13 |
0.0% |
0.13 |
18.2% |
0.11 |
|
|
Total Debt Ratio |
5.01 |
-6.4% |
5.35 |
-24.0% |
7.04 |
|
|
Industry Comparison |
|
|
Activity Code |
10610 |
|
Activity Description |
Manufacture of milling products |
|
Industry Average Credit Limit (€) |
101,641 |
Payment
Expectations
|
Payment Expectations |
|
|
Payment Expectation Days |
47.38 |
|
Day Sales Outstanding |
53.97 |
|
Industry Comparison |
|
|
Activity Code |
1061 |
|
Activity Description |
Manufacture of grain mill products |
|
Industry Average Day Sales Outstanding |
101.14 |
|
Industry Average Payment Expectation Days |
38.01 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
36.94 |
|
Payment Expectations - Median |
52.93 |
|
Payment Expectations - Upper |
72.47 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
20.31 |
|
Day Sales Outstanding - Median |
31.94 |
|
Day Sales Outstanding - Upper |
44.28 |
Shareholders
|
Holding Company |
|
|
Company Name |
UNITED EUROPEAN FLOUR MILLS NV |
|
Business Number |
477936519 |
|
Share Percentage |
99.99 |
|
Annual Accounts Date |
01/06/2010 |
|
No subsidiaries for this 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 |
|
|
Business Number |
|
|
Name of Defendant |
UNITED BELGIAN MILLS |
|
Legal Form of Defendant |
Limited company |
|
Date of Summons |
2010-06-21 |
|
Labour Court |
ANTWERPEN |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
Company Director |
|
|
Full Name |
JEAN-MICHEL SOUFFLET |
|
Position |
Director |
|
Address |
38 RUE CROIX PETITS CHAMPS 75001 PARIS |
|
Postal Code |
0 |
|
Country |
France |
|
Company Director |
|
|
Full Name |
JACQUES DOSSCHE |
|
Position |
Director |
|
Address |
21 BOGAERTSTRAAT SINT-MARTENS-LATEM |
|
Postal Code |
9830 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
BERNARD OTTE |
|
Position |
Chairman of the board |
|
Address |
54 SINT-KATELIJNEVEST ANTWERPEN |
|
Postal Code |
2000 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
VINCENT THIBAULT |
|
Position |
Director |
|
Address |
20 RUE HENRY COLLINET MALAY-LE-GRAND |
|
Postal Code |
0 |
|
Country |
France |
|
Company Director |
|
|
Full Name |
JEAN-PIERRE ROELS |
|
Position |
Director |
|
Address |
112 LANGE WEGEL WETTEREN |
|
Postal Code |
9230 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
VALERIE GRANGIER |
|
Position |
Director |
|
Address |
68 RUE ARMAND CARREL 75019 PARIS |
|
Postal Code |
0 |
|
Country |
France |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
|
UK Pound |
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
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.