MIRA INFORM REPORT

 

 

Report Date :           

12.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

RIVERMILLS

 

 

Registered Office :

Michel Vandewielestraat 7, Marke, 8510

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1969

 

 

Com. Reg. No.:

406879762

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Manufacturer of machinery for textile, apparel, and leather production

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Belgium

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Rivermills

Michel Vandewielestraat 7

Marke, 8510

Belgium

Tel:       056 24 32 11

Fax:      056 24 35 40

 

 

Synthesis     

 

Employees:                  NA

Company Type:            Private Independent

Incorporation Date:         1969   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               14.9  1

Total Assets:                26.8

 

 

Business Description     

 

Manufacture of machinery for textile, apparel, and leather production

 

Industry

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    2469 - Other Specialised Machinery and Equipment Manufacturing

NACE 2002:      2954 - Manufacture of machinery for textile, apparel and leather production

NAICS 2002:     333292 - Textile Machinery Manufacturing

UK SIC 2003:    2954 - Manufacture of machinery for textile, apparel and leather production

US SIC 1987:    3552 - Textile Machinery

 

           

Key Executives   

 

Name

Title

Joseph Michel Marie Boes

Representative/Auditor

Jean-Michel Dalle

Representative/Auditor

Charles Lambert Marie F G Beauduin

Manager

 

 

Registered No.(VAT): 406879762

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Michel Vandewielestraat 7

Marke, 8510

Belgium

Tel:       056 24 32 11

Fax:      056 24 35 40

           

Sales EUR(mil):             11.3

Assets EUR(mil):           20.0

Employees:                   NA

Fiscal Year End:            31-Dec-2010

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         1969

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(VAT):     406879762

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

1331     -          Textile Floor Covering Manufacturing

2469     -          Other Specialised Machinery and Equipment Manufacturing

 

NACE 2002 Codes:

1751     -          Manufacture of carpets and rugs

2954     -          Manufacture of machinery for textile, apparel and leather production

 

NAICS 2002 Codes:

314110  -          Carpet and Rug Mills

333292  -          Textile Machinery Manufacturing

 

US SIC 1987:

2273     -          Carpets and Rugs

3552     -          Textile Machinery

 

UK SIC 2003:

2954     -          Manufacture of machinery for textile, apparel and leather production

1751     -          Manufacture of carpets and rugs

 

Business Description

Manufacture of machinery for textile, apparel, and leather production

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

11.3

Assets:

20.0

Current Assets:

6.3

 

Fixed Assets:

13.7

 

Total Liabilities:

20.0

 

Issued Capital:

0.5

 

Net Worth:

0.5

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

-55.7%

NA

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Joseph Michel Marie Boes

 

Representative/Auditor

Accounting Executive

 

Jean-Michel Dalle

 

Representative/Auditor

Accounting Executive

 

Charles Lambert Marie F G Beauduin

 

Manager

Other

 

 

 

Annual Profit & Loss

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

    Turnover

14.9

9.8

23.4

    Other Operating Income

0.0

0.1

0.1

Operating Income

15.0

9.9

23.4

        Purchases

13.8

7.9

19.6

        Increase or Decrease in Stocks

-0.6

0.9

1.2

    Raw Materials, Consumables, and Goods for Release

13.1

8.8

20.8

    Services and Sundry Goods

1.1

0.9

1.9

    Provisions for Liabilities and Charges

0.0

0.0

-

    Other Operating Charges

0.0

0.0

0.0

Operating Charges

14.2

9.7

22.7

    Income From Current Assets

0.1

0.2

0.7

    Other Financial Income

2.2

1.5

2.0

Financial Income

2.3

1.8

2.8

    Interest and Other Debt Charges

0.2

0.2

0.5

    Other Financial Charges

2.4

1.5

2.1

Financial Charges

2.5

1.7

2.6

    Income Taxes

-

-

0.1

    Adjustment of Income Taxes and Write-Back of Tax Provisions

0.0

-

-

Income Taxes

0.0

-

0.1

        To Other Reserves

0.5

0.3

0.7

    Transfers to Capital and Reserves

0.5

0.3

0.7

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

        Land & Buildings

0.0

0.0

0.0

    Tangible Assets

0.0

0.0

0.0

        Amounts Receivable

18.3

18.4

13.7

        Affiliated Enterprises

18.3

18.4

13.7

        Amounts Receivable and Cash Guarantees

0.0

0.1

0.2

        Other Capital Assets

0.0

0.1

0.2

    Capital Assets

18.3

18.5

13.9

Fixed Assets

18.4

18.5

13.9

        Goods Purchased for Resale

1.5

1.0

1.9

        Stocks

1.5

1.0

1.9

    Inventory and Orders in Progress

1.5

1.0

1.9

        Trade Debtors

5.8

5.9

6.0

        Other Amounts Receivable

0.1

0.1

0.0

    Amounts Receivable Within One Year

5.9

6.0

6.1

    Liquid Assets

0.9

0.6

0.2

    Adjustment Accounts

0.0

0.0

0.0

Current Assets

8.4

7.5

8.1

Total Assets

26.8

26.1

22.1

        Issued Capital

0.7

0.7

0.7

    Capital

0.7

0.7

0.7

        Legal Reserve

0.1

0.1

0.1

        Untaxed Reserves

0.3

0.3

0.3

        Reserves Available for Distribution

11.6

11.9

11.2

    Reserves

12.0

12.2

11.6

        Other Liabilities and Charges

-

0.0

-

        Provisions for Liabilities and Charges

-

0.0

-

    Provisions and Deferred Taxes

-

0.0

-

Capital and Reserves

12.6

13.0

12.3

        Credit Institutions

6.7

4.8

2.0

        Financial Debts

6.7

4.8

2.0

        Suppliers

1.4

1.9

1.3

        Trade Debts

1.4

1.9

1.3

        Taxes

-

0.0

0.0

        Taxes, Wages, and Social Security

-

0.0

0.0

        Other Amounts Payable

5.9

6.2

6.3

    Amounts Payable Within One Year

14.0

13.0

9.7

    Adjustment Accounts

0.1

0.0

0.1

Creditors

14.1

13.1

9.8

Total Liabilities + Shareholders' Equity

26.8

26.1

22.1

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.28

UK Pound

1

Rs.80.08

Euro

1

Rs.68.45

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.