MIRA INFORM REPORT
|
Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
KODDAERT NV |
|
|
|
|
Registered Office : |
1, Ambachtenstraat, Koekelare 8820 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
27.06.1986 |
|
|
|
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Com. Reg. No.: |
429255385 |
|
|
|
|
Legal Form : |
Limited Company |
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|
|
|
Line of Business : |
Wholesale of metals and metal ores |
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 : |
(€) 435,000 |
|
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 |
429255385 |
|
Name |
|
|
Address |
1, AMBACHTENSTRAAT, KOEKELARE |
|
Post Code |
8820 |
|
Telephone Number |
051747540 |
|
Fax Number |
051747530 |
|
Establishment Date |
27-06-1986 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
16 |
|
Activity Description |
Wholesale of metals and metal ores |
|
Activity Code |
46720 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
KOOLSKAMPSTRAAT |
|
House Number |
28 |
|
City |
TORHOUT |
|
Postal Code |
8820 |
|
Trade Registered Number |
41732 |
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Trade Registered Entry Date |
01-10-1986 |
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Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
|
|
Serial Number |
116731 |
|
Event Description |
Reappointment |
|
Limit |
|
|
Credit Information |
|
|
Credit Limit (€) |
435,000 |
|
Purchase Limit (€) |
5,400,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
98,927 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
34.85 |
|
Day Sales Outstanding |
70.44 |
|
Industry Comparison |
|
|
Activity Code |
4672 |
|
Activity Description |
Wholesale of metals and metal ores |
|
Industry Average Day Sales Outstanding |
73.81 |
|
Industry Average Payment Expectation Days |
58.17 |
|
Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
36.19 |
|
Payment Expectations - Median |
62.23 |
|
Payment Expectations - Upper |
86.91 |
|
|
|
|
Day Sales Outstanding - Lower |
21.25 |
|
Day Sales Outstanding - Median |
44.13 |
|
Day Sales Outstanding - Upper |
69.17 |
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Company Shareholder Holding |
|
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 |
21,778,799 |
40,036,691 |
31,658,046 |
|
Total Operating Expenses |
21,117,218 |
39,359,353 |
30,646,120 |
|
Operating Result |
661,581 |
677,338 |
1,011,926 |
|
Total Financial Income |
158,203 |
349,124 |
140,071 |
|
Total Financial Expenses |
402,021 |
817,862 |
547,766 |
|
Results on Ordinary Operations Before Tax |
417,763 |
208,601 |
604,232 |
|
Taxation |
89,361 |
72,181 |
200,785 |
|
Results on Ordinary Operations After Tax |
328,402 |
136,420 |
403,447 |
|
Extraordinary Items |
1,114 |
-14,728 |
-34,188 |
|
Net Result |
332,470 |
124,645 |
372,213 |
|
Other Information |
|||
|
Dividends |
- |
- |
- |
|
Director Remuneration |
117,070 |
- |
- |
|
Employee Costs |
852,418 |
882,734 |
917,006 |
|
- Wages & Salaries |
561,525 |
604,900 |
635,971 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
249,752 |
250,813 |
242,047 |
|
- Other Employee Costs |
41,141 |
27,021 |
38,988 |
|
Amortization & Depreciation |
405,447 |
354,928 |
265,776 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
5,484 |
0 |
0 |
|
Tangible Fixed Assets |
2,507,992 |
2,218,565 |
2,026,068 |
|
- Land And Buildings |
1,864,647 |
1,394,183 |
1,482,221 |
|
- Plant And Machinery |
403,244 |
610,035 |
355,247 |
|
- Other Tangible Assets |
240,101 |
214,347 |
188,600 |
|
Financial Fixed Assets |
84,887 |
76,541 |
29,498 |
|
Total Fixed Assets |
2,598,363 |
2,295,106 |
2,055,566 |
|
Inventories |
4,459,378 |
4,961,131 |
4,085,646 |
|
- Raw Materials & Consumables |
6,779 |
0 |
7,179 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
4,452,599 |
4,961,131 |
4,078,467 |
|
Trade Debtors |
4,202,856 |
4,696,615 |
5,756,495 |
|
Cash |
405,417 |
242,598 |
493,066 |
|
- Miscellaneous Current Assets |
32,320 |
8,287 |
4,091 |
|
Total Current Assets |
9,124,322 |
10,102,564 |
10,340,605 |
|
Current Liabilities |
|||
|
- Trade Creditors |
2,016,160 |
2,344,162 |
3,967,703 |
|
- Short Term Group Loans |
0 |
0 |
0 |
|
- Other Short Term Loans |
5,854,366 |
6,785,211 |
5,106,907 |
|
- Miscellaneous Current Liabilities |
-99,216 |
-152,321 |
162,226 |
|
Total Current Liabilities |
7,771,310 |
8,977,052 |
9,236,836 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
419,028 |
201,810 |
121,928 |
|
- Other Long Term Liabilities |
214,322 |
220,385 |
160,761 |
|
Total Long Term Debts |
633,350 |
422,195 |
282,689 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
910,000 |
910,000 |
910,000 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
2,100,609 |
1,781,007 |
1,659,230 |
|
- Revaluation Reserve |
307,416 |
307,416 |
307,416 |
|
Total Shareholders Equity |
3,318,025 |
2,998,423 |
2,876,646 |
|
|
|||
|
Working Capital |
1,353,012 |
1,125,512 |
1,103,769 |
|
Net Worth |
3,312,541 |
2,998,423 |
2,876,646 |
|
Ratio Analysis |
|||
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Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
1.92 |
0.52 |
1.91 |
|
Return On Capital Employed |
10.57 |
6.10 |
19.13 |
|
Return On Total Assets Employed |
3.56 |
1.68 |
4.87 |
|
Return On Net Assets Employed |
30.88 |
18.53 |
54.74 |
|
Sales / Net Working Capital |
16.10 |
35.57 |
28.68 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
20.48 |
12.39 |
12.91 |
|
Debtor Days |
70.44 |
42.82 |
66.37 |
|
Creditor Days |
34.85 |
21.74 |
47.26 |
|
Short Term Stability |
|||
|
Current Ratio |
1.17 |
1.13 |
1.12 |
|
Liquidity Ratio / Acid Ratio |
0.60 |
0.57 |
0.68 |
|
Current Debt Ratio |
2.34 |
2.99 |
3.21 |
|
Long Term Stability |
|||
|
Gearing |
189.07 |
233.02 |
181.77 |
|
Equity In Percentage |
0.28 |
0.24 |
0.23 |
|
Total Debt Ratio |
1.89 |
2.33 |
1.82 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
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Bill Amount |
|
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO Details |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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Labour Court |
-- |
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Directors |
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Company Director |
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|
Full Name |
JEAN-PIERRE ARSEEN HEYNDERICK |
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Birth Date |
1957-07-17 |
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Position Description |
Managing director |
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Address |
8 BOLLESTRAAT TORHOUT |
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Country |
-- |
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Postal Code |
8820 |
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Birth Date |
|
|
Company Director |
|
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Full Name |
NICOLE CLARA JACOBS |
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Birth Date |
1957-02-05 |
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Position Description |
Director |
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Address |
8 BOLLESTRAAT TORHOUT |
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Country |
-- |
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Postal Code |
8820 |
|
Birth Date |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
|
UK Pound |
1 |
Rs.74.27 |
|
Euro |
1 |
Rs.64.35 |
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.