MIRA INFORM REPORT
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Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
CONSTELLIUM FRANCE |
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Registered Office : |
17, Place Des Reflets, - La Defense 2, Courbevoie, 92400 |
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Country : |
France |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.01.1967 |
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Com. Reg. No.: |
672014081 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
production of aluminium from alumina |
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No. of Employees
: |
2,969 Persons |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
France |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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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
Constellium France
17, Place Des Reflets
- La Defense 2
Courbevoie, 92400
France
Tel: 33 (1) 57 00 20 00
Fax: +33 01 46 91 46 46
synthesis
Employees: 2,969
Company Type: Private Subsidiary
Corporate Family: 31
Companies
Ultimate Parent: Rio Tinto PLC
Incorporation Date:
15-Jan-1967
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 1,464.7
Total Assets: 1,082.5
Business Description
Constellium France
is primarily engaged in production of aluminium from alumina; production of
aluminium from electrolytic refining of aluminium waste and scrap; production
of aluminium alloys; and semi-manufacturing of aluminium. This class also
includes: production of aluminium oxide (alumina); and production of aluminium
wrapping foil.
Industry
Industry Metal Mining
ANZSIC 2006: 2132 - Aluminium
Smelting
NACE 2002: 2742 - Aluminium
production
NAICS 2002: 331312 - Primary
Aluminum Production
UK SIC 2003: 2742 - Aluminium
production
US SIC 1987: 3334 - Primary
Production of Aluminum
Key Executives
|
Name |
Title |
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Jean-Noel Dardnies |
Chairman and Chief Executive Officer |
|
Clotilde Delbos |
President |
|
Christian Faucon |
Financial director |
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Michelle Bingler |
Director |
|
Jean-Francois Climent |
Director |
Registered No.(FRA): 672014081
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
17, Place Des Reflets
- La Defense 2
Courbevoie, 92400
France
Tel: 33 (1) 57 00 20 00
Fax: +33 01 46 91 46 46
Sales EUR(mil): 1,053.2
Assets EUR(mil): 754.5
Employees: 2,969
Fiscal Year End: 31-Dec-2009
Industry: Metal
Mining
Incorporation Date: 15-Jan-1967
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Previous Name: Pechiney
Rhenalu
Registered No.(FRA): 672014081
Chairman and Chief
Executive Officer: Jean-Noel
Dardnies
Contents
· Industry Codes
· Business Description
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2132 - Aluminium Smelting
NACE 2002 Codes:
2742 - Aluminium production
NAICS 2002 Codes:
331312 - Primary Aluminum Production
US SIC 1987:
3334 - Primary Production of Aluminum
UK SIC 2003:
2742 - Aluminium production
Business
Description
Manufacture of aluminium and its alloys
More Business
Descriptions
Constellium France
is primarily engaged in production of aluminium from alumina; production of
aluminium from electrolytic refining of aluminium waste and scrap; production
of aluminium alloys; and semi-manufacturing of aluminium. This class also
includes: production of aluminium oxide (alumina); and production of aluminium
wrapping foil.
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 31 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Rio Tinto PLC |
Parent |
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Subsidiary |
Courbevoie |
France |
Miscellaneous Fabricated Products |
9,852.0 |
239 |
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Subsidiary |
Courbevoie |
France |
Metal Mining |
1,464.7 |
2,969 |
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Subsidiary |
Carquefou |
France |
Metal Mining |
|
552 |
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Subsidiary |
Germigny |
France |
Miscellaneous Fabricated Products |
227.6 |
403 |
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Subsidiary |
Crailsheim, Baden-Württemberg |
Germany |
Metal Mining |
131.4 |
200 |
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Subsidiary |
Burg, Sachsen-Anhalt |
Germany |
Metal Mining |
|
82 |
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Subsidiary |
Voreppe |
France |
Metal Mining |
2,137.8 |
2,277 |
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Subsidiary |
Gardanne |
France |
Chemical Manufacturing |
79.1 |
270 |
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Subsidiary |
Courbevoie |
France |
Miscellaneous Capital Goods |
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Subsidiary |
Mogi Das Cruzes, Sao Paulo |
Brazil |
Miscellaneous Capital Goods |
|
1,000 |
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Subsidiary |
Courbevoie |
France |
Metal Mining |
767.0 |
653 |
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Subsidiary |
Germigny |
France |
Miscellaneous Fabricated Products |
163.2 |
348 |
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Subsidiary |
Courbevoie |
France |
Biotechnology and Drugs |
61.0 |
300 |
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Subsidiary |
Courbevoie |
France |
Metal Mining |
|
252 |
|
|
|
Subsidiary |
Nantes |
France |
Miscellaneous Capital Goods |
118.1 |
134 |
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Subsidiary |
Dubai |
United Arab Emirates |
Metal Mining |
30.0 |
100 |
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Subsidiary |
Las Condes, Santiago |
Chile |
Business Services |
24.0 |
100 |
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Subsidiary |
Uchaux |
France |
Fabricated Plastic and Rubber |
3.9 |
7 |
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Subsidiary |
Courbevoie |
France |
Commercial Banks |
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Subsidiary |
Ozoir La Ferriere |
France |
Miscellaneous Capital Goods |
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Subsidiary |
Courbevoie |
France |
Commercial Banks |
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Subsidiary |
Paddington |
United Kingdom |
Commercial Banks |
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Subsidiary |
Slough |
United Kingdom |
Miscellaneous Capital Goods |
3.0 |
11 |
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Subsidiary |
Slough |
United Kingdom |
Miscellaneous Capital Goods |
27.2 |
13 |
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Subsidiary |
Slough |
United Kingdom |
Personal Services |
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Subsidiary |
Paddington |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Paddington |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Paddington |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
West Yorkshire |
United Kingdom |
Construction - Supplies and Fixtures |
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Subsidiary |
Paddington |
United Kingdom |
Business Services |
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Executive report
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Board of
Directors |
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Chairman and Chief Executive Officer |
Chairman |
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Executives |
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Chairman and Chief Executive Officer |
Chief Executive Officer |
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President |
President |
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Director |
Administration Executive |
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Director |
Administration Executive |
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Financial director |
Finance Executive |
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Annual Profit & Loss
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|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
1,533.1 |
2,141.5 |
2,289.8 |
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Net sales |
1,464.7 |
2,099.8 |
2,271.0 |
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Change in stock |
83.3 |
56.4 |
10.0 |
|
Unfinished work in progress |
- |
0.9 |
- |
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Own work capitalised |
1.1 |
1.3 |
2.1 |
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Subsidies for operating costs |
0.0 |
0.0 |
0.1 |
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Supplementary operating income |
74.5 |
39.0 |
22.6 |
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Other operating income |
0.6 |
0.5 |
0.5 |
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Other external charges |
344.8 |
434.9 |
417.1 |
|
Cost of goods sold |
748.5 |
1,277.6 |
1,437.1 |
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Taxes and social security costs |
21.9 |
26.1 |
25.6 |
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Social charges |
74.7 |
80.4 |
77.7 |
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Total payroll costs |
173.2 |
181.5 |
176.1 |
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Cost of stock depreciation and amortisation |
24.9 |
52.1 |
16.5 |
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Fixed asset depreciation and amortisation |
41.0 |
40.9 |
38.5 |
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Other operating costs |
1.7 |
5.8 |
3.6 |
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Total operating costs |
1,514.0 |
2,155.6 |
2,202.3 |
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Net operating income |
19.1 |
- |
87.5 |
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Total financial income |
11.0 |
18.4 |
19.1 |
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Interest payable on loans |
9.6 |
22.7 |
23.0 |
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Other expenses |
0.0 |
5.8 |
15.0 |
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Total expenses |
9.6 |
28.5 |
38.0 |
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Profit before tax |
20.6 |
- |
68.6 |
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Extraordinary income |
16.6 |
70.1 |
24.5 |
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Extraordinary expenses |
61.4 |
84.8 |
42.4 |
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Total taxation |
- |
- |
10.0 |
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Profit distributed to employees |
0.0 |
0.2 |
0.5 |
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Net profit |
- |
- |
40.3 |
|
Net loss |
22.6 |
38.7 |
- |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
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Issued capital |
177.3 |
171.7 |
180.6 |
|
Share premium account |
56.5 |
54.7 |
57.5 |
|
Surplus of revaluation |
0.1 |
0.1 |
0.1 |
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Legal reserves |
161.1 |
146.9 |
144.1 |
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Total reserves |
54.7 |
53.0 |
55.7 |
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Profits for the year |
- |
- |
43.0 |
|
Profit brought forward from previous year(s) |
- |
0.9 |
0.2 |
|
Capital subsidies and grants |
1.2 |
0.9 |
1.1 |
|
Total stockholders equity |
390.4 |
391.5 |
482.4 |
|
Provisions and allowances |
101.9 |
72.0 |
54.9 |
|
Trade creditors |
194.8 |
243.7 |
326.5 |
|
Advances received |
0.4 |
0.4 |
- |
|
Bank loans and overdrafts |
0.7 |
0.9 |
0.0 |
|
Current bank debts |
0.7 |
0.9 |
0.0 |
|
Debenture loans |
0.0 |
0.0 |
0.0 |
|
Other loans |
193.3 |
18.7 |
22.6 |
|
Other liabilities |
70.2 |
327.8 |
366.2 |
|
Debts on fixed assets |
11.5 |
14.4 |
20.7 |
|
Taxation and social security |
115.3 |
101.5 |
118.5 |
|
Total current liabilities |
576.1 |
- |
- |
|
Total debts |
586.2 |
707.4 |
854.5 |
|
Regularisation account |
4.0 |
5.8 |
2.4 |
|
Total liabilities (including net worth) |
1,082.5 |
1,176.6 |
1,394.2 |
|
Patents |
6.6 |
8.0 |
7.8 |
|
Goodwill |
1.3 |
1.3 |
1.3 |
|
Land |
16.3 |
13.6 |
14.4 |
|
Buildings |
79.6 |
78.1 |
79.0 |
|
Other fixed assets |
351.3 |
350.9 |
345.9 |
|
Long-term investments |
51.7 |
50.1 |
58.4 |
|
Other financial assets |
0.2 |
0.2 |
0.2 |
|
Total non-current assets |
506.9 |
502.2 |
507.0 |
|
Prepayments |
2.4 |
0.1 |
1.1 |
|
Net stocks and work in progress |
198.0 |
252.0 |
344.0 |
|
Trade debtors |
246.2 |
316.3 |
388.4 |
|
Other receivables |
119.8 |
91.2 |
142.7 |
|
Prepaid expenses |
2.4 |
4.8 |
1.8 |
|
Cash and liquid assets |
3.9 |
1.2 |
1.5 |
|
Total current assets |
572.8 |
665.6 |
879.5 |
|
Prepaid expenses and deferred costs |
2.8 |
8.9 |
7.7 |
|
Total assets |
1,082.5 |
1,176.6 |
1,394.2 |
Annual Ratios
Financials
in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.00 |
- |
- |
|
Quick ratio |
0.70 |
- |
- |
|
Total liabilities to net worth |
1.54% |
1.90% |
1.84% |
|
Net worth to total assets |
0.35% |
0.32% |
0.33% |
|
Collection period |
49.50 |
48.10 |
48.60 |
|
Stock turnover rate |
7.60 |
7.90 |
7.10 |
|
Asset turnover |
1.40% |
1.70% |
1.74% |
|
Profit margin |
0.01% |
- |
0.03% |
|
Return on assets |
0.02% |
- |
0.05% |
|
Shareholders' return |
0.06% |
- |
0.16% |
|
Sales per employee |
2,326.89 |
3,078.36 |
- |
|
Profit per employee |
32.70 |
- |
- |
|
Average wage per employee |
275.22 |
266.07 |
- |
|
Net worth |
390.4 |
391.5 |
482.4 |
|
Number of employees |
2,969 |
3,059 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.10 |
|
UK Pound |
1 |
Rs.81.30 |
|
Euro |
1 |
Rs.70.07 |
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.