MIRA
INFORM REPORT
|
Report Date : |
02.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
UCO NV |
|
|
|
|
Registered Office : |
Doorniksewijk 49 Kortrijk 8500 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
20.05.1996 |
|
|
|
|
Com. Reg. No.: |
457983322 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of household textiles and bedding |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
295,000€ |
|
|
|
|
Status : |
Moderate |
|
|
|
|
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 |
REGISTERED NAME & COMPANY
SUMMARY
|
Company Summary |
|
|
Business Name |
UCO NV |
|
Business Number |
457983322 |
|
Address |
DOORNIKSEWIJK 49 KORTRIJK |
|
8500 |
|
|
Telephone |
092391211 |
|
Fax Number |
092391839 |
|
Date of Establisment |
20/05/1996 |
|
Number of Employees |
12 |
|
company details |
|
|
Business Number |
457983322 |
|
Name |
UCO NV |
|
Fax Number |
092391839 |
|
Establishment Date |
20/05/1996 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Wholesale of household textiles and bedding |
|
Activity Code |
46412 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
CREDIT RECOMENDATION
Current Credit Limit: 295,000€
DIRECTORS/MANAGEMENT
|
Company Director |
|
|
FullName |
PHILIPPE MARIE THERE VLERICK |
|
Position |
Director |
|
Address |
2 RONSEVAALSTRAAT KORTRIJK |
|
Postal Code |
8510 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
ANNE-MARIE UYTTEBROECK |
|
Position |
Director |
|
Address |
9 RUE LEON LEPAGE BRUXELLES |
|
Postal Code |
1000 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
MIDELCO NV |
|
Position |
Director |
|
Address |
15 MARTELAARSPLEIN BRUSSEL |
|
Postal Code |
1000 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
SOCOFI NV |
|
Position |
Director |
|
Address |
3 LAGEN HEIRWEG LAARNE |
|
Postal Code |
9270 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
E.D.J. NV |
|
Position |
Director |
|
Address |
14 KONING BOUDEWIJNLAAN DE PINTE |
|
Postal Code |
9840 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
DAPITEX NV |
|
Position |
Director |
|
Address |
12 STEENAKKERSTRAAT DESTELBERGEN |
|
Postal Code |
9070 |
|
Country |
-- |
|
Company Director |
|
|
FullName |
YVD CONSULT |
|
Position |
Director |
|
Address |
10 POLDERHOEKLAAN ST-KRUIS (BRUGGE) |
|
Postal Code |
8310 |
|
Country |
-- |
NEGATIVE INFORMATION
|
Court Data Summary |
|
|
bankruptcy details |
|
|
Court Action Type |
None |
|
Protested Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
// |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
// |
|
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 |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
SHARE & SHARE CAPITAL
INFORMATION
|
Holding Company |
|
|
Company Name |
MIDELCO NV |
|
Business Number |
430555581 |
|
Share Percentage |
91.65 |
|
Annual Accounts Date |
01/06/2010 |
|
Subsidary |
|
|
Company Name |
CONCORDIA PACIFIC LTD |
|
Business Number |
18460286 |
|
Share Percentage |
|
|
Annual Accounts Date |
// |
|
Subsidary |
|
|
Company Name |
B.M.H. NV |
|
Business Number |
401010767 |
|
Share Percentage |
60 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
RAYMOND UCO DENIM PRIVATE LTD |
|
Business Number |
18460088 |
|
Share Percentage |
50 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
UCO SPINNING NV |
|
Business Number |
807539747 |
|
Share Percentage |
50 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
ARGUEL |
|
Business Number |
18460187 |
|
Share Percentage |
35.12 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
CONCORDIA TEXTILES NV |
|
Business Number |
440188968 |
|
Share Percentage |
20.23 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
SIGMA SPINNING NV |
|
Business Number |
462384746 |
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
UCO YARNS NV |
|
Business Number |
440249940 |
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01/03/2010 |
|
Subsidary |
|
|
Company Name |
AVS SPINNING NV |
|
Business Number |
419547071 |
|
Share Percentage |
0.01 |
|
Annual Accounts Date |
01/03/2010 |
PAYMENT INFORMATION
|
Past Payments |
|
|
Payment Expectation Days |
|
|
Days Sales Outstanding |
|
|
Industry Average Payment Expectation Days |
73.42 |
|
Industry Average Day Sales Outstanding |
88.68 |
|
Payment Expectations |
|
|
Payment Expectation Days |
|
|
Day Sales Outstanding |
|
|
Industry Comparison |
|
|
Activity Code |
4641 |
|
Activity Description |
Wholesale of textiles |
|
Industry Average Day Sales Outstanding |
88.68 |
|
Industry Average Payment Expectation Days |
73.42 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
15.30 |
|
Payment Expectations - Median |
53.69 |
|
Payment Expectations - Upper |
111.19 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
16.91 |
|
Day Sales Outstanding - Median |
39.42 |
|
Day Sales Outstanding - Upper |
88.86 |
GROUP STRUCTURE & AFFILIATED
COMPANIES
Na
FINANCIAL INFORMATION
|
Period |
|||||
|
Accounts End Date |
31/03/2010 |
% |
31/03/2009 |
% |
31/03/2008 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit & Loss |
|
||||
|
Turnover |
- |
- |
- |
- |
- |
|
Total Operating Expenses |
- |
- |
- |
- |
- |
|
Operating Result |
-896,581 |
-2.4% |
-875,363 |
-7.3% |
-815,487 |
|
Total Financial Income |
22,672,989 |
125.0% |
10,075,618 |
210.3% |
3,246,808 |
|
Total Financial Expenses |
6,635,636 |
-18.3% |
8,122,796 |
318.5% |
1,940,921 |
|
Results on Ordinary Operations Before Tax |
4,133,625 |
202.8% |
-4,020,185 |
-215.2% |
-1,275,292 |
|
Taxation |
- |
- |
- |
- |
- |
|
Results on Ordinary Operations After Tax |
4,133,625 |
202.8% |
-4,020,185 |
-215.2% |
-1,275,292 |
|
Extraordinary Items |
42,440,175 |
237.6% |
-30,853,273 |
-24.8% |
-24,723,524 |
|
Net Result |
46,573,800 |
233.6% |
-34,873,457 |
-34.1% |
-25,998,815 |
|
Other Information |
|
||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
22,310 |
0.0% |
22,310 |
-14.3% |
26,029 |
|
Employee Costs |
248,171 |
74.1% |
142,548 |
84.6% |
77,236 |
|
- Wages & Salaries |
138,286 |
38.4% |
99,900 |
14.3% |
87,379 |
|
- Social Security Contributions |
29,944 |
25.3% |
23,893 |
-12.1% |
27,172 |
|
- Other Employee Costs |
6,972 |
-14.0% |
8,103 |
117.8% |
-45,608 |
|
Amortization & Depreciation |
90,155 |
0.6% |
89,661 |
7.3% |
83,595 |
|
Balance Sheet |
|||||
|
Accounts End Date |
31/03/2010 |
% |
31/03/2009 |
% |
31/03/2008 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
342 |
-85.5% |
2,357 |
-46.1% |
4,372 |
|
Tangible Fixed Assets |
606,499 |
-2.5% |
622,063 |
-12.3% |
709,709 |
|
- Land And Buildings |
571,454 |
6,365.1% |
8,839 |
-11.4% |
9,971 |
|
- Plant And Machinery |
0 |
- |
0 |
- |
0 |
|
- Other Tangible Assets |
35,045 |
-94.3% |
613,224 |
-12.4% |
699,738 |
|
Financial Fixed Assets |
61,497,502 |
74.8% |
35,175,494 |
-63.8% |
97,248,813 |
|
Total Fixed Assets |
62,104,343 |
73.5% |
35,799,914 |
-63.5% |
97,962,894 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
0 |
- |
0 |
- |
0 |
|
Trade Debtors |
-9,689,135 |
-100.4% |
-4,834,555 |
50.6% |
-9,782,296 |
|
Cash |
74,454 |
397.0% |
14,982 |
108.1% |
7,198 |
|
- Miscellaneous Current Assets |
9,792,041 |
95.8% |
5,000,315 |
-52.1% |
10,446,927 |
|
Total Current Assets |
308,335 |
-97.3% |
11,628,560 |
404.0% |
2,307,358 |
|
|
|||||
|
- Trade Creditors |
477,468 |
-9.8% |
529,383 |
-12.1% |
602,495 |
|
- Short Term Group Loans |
680 |
-100.0% |
14,301,639 |
-59.6% |
35,367,092 |
|
- Other Short Term Loans |
0 |
-100.0% |
13,890,525 |
-42.9% |
24,305,659 |
|
- Miscellaneous Current Liabilities |
247,087 |
101.8% |
-13,987,712 |
39.1% |
-22,949,865 |
|
Total Current Liabilities |
725,235 |
-95.1% |
14,733,835 |
-60.5% |
37,325,381 |
|
|
|||||
|
- Long Term Group Loans |
0 |
-100.0% |
445,288 |
-12.1% |
506,707 |
|
- Other Long Term Loans |
0 |
-100.0% |
17,445,292 |
34.1% |
13,006,711 |
|
- Other Long Term Liabilities |
1,217,874 |
28.5% |
947,852 |
35.1% |
701,789 |
|
Total Long Term Debts |
1,217,874 |
-93.5% |
18,838,432 |
32.5% |
14,215,207 |
|
|
|||||
|
- Issued Share Capital |
18,500,000 |
0.0% |
18,500,000 |
0.0% |
18,500,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
41,930,007 |
1,002.9% |
-4,643,793 |
-115.4% |
30,229,665 |
|
- Revaluation Reserve |
39,562 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
60,469,569 |
336.4% |
13,856,207 |
-71.6% |
48,729,665 |
|
|
|||||
|
Working Capital |
-416,900 |
86.6% |
-3,105,275 |
91.1% |
-35,018,023 |
|
Net Worth |
60,469,227 |
336.5% |
13,853,850 |
-71.6% |
48,725,293 |
|
Ratio Analysis |
||||||
|
Trading Performance |
||||||
|
Pre-tax Profit Margin |
- |
- |
- |
- |
- |
|
|
Return On Capital Employed |
6.70 |
154.5% |
-12.30 |
-505.9% |
-2.03 |
|
|
Return On Total Assets Employed |
6.62 |
178.1% |
-8.48 |
-567.7% |
-1.27 |
|
|
Return On Net Assets Employed |
-991.51 |
-865.9% |
129.46 |
3,456.6% |
3.64 |
|
|
Sales / Net Working Capital |
- |
- |
- |
- |
- |
|
|
Operating Efficiency |
|
|||||
|
Stock Turnover Ratio |
- |
- |
- |
- |
- |
|
|
Debtor Days |
- |
- |
- |
- |
- |
|
|
Creditor Days |
- |
- |
- |
- |
- |
|
|
Short Term Stability |
|
|||||
|
Current Ratio |
0.43 |
-45.6% |
0.79 |
1,216.7% |
0.06 |
|
|
Liquidity Ratio / Acid Ratio |
0.43 |
-45.6% |
0.79 |
1,216.7% |
0.06 |
|
|
Current Debt Ratio |
0.01 |
-99.1% |
1.06 |
37.7% |
0.77 |
|
|
Long Term Stability |
|
|||||
|
Gearing |
0 |
-100.0% |
332.58 |
121.4% |
150.19 |
|
|
Equity In Percentage |
0.97 |
234.5% |
0.29 |
-40.8% |
0.49 |
|
|
Total Debt Ratio |
0 |
-100.0% |
3.33 |
122.0% |
1.50 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Latest Branch Details |
|
|
Street |
WIEDAUWKAAI |
|
House Number |
52 |
|
City |
GENT |
|
Postal Code |
9000 |
|
Trade Registered Number |
181345 |
|
Trade Registered Entry Date |
01/06/1996 |
|
Latest Event |
|
|
Serial Number |
47562 |
|
Event Description |
Reappointment |
|
|
|
|
Industry Comparison |
|
|
Activity Code |
46412 |
|
Activity Description |
Wholesale of household textiles and bedding |
|
Industry Average Credit Rating |
61.57 |
|
Industry Average Credit Limit (€) |
23,939 |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.01 |
|
|
1 |
Rs.75.42 |
|
Euro |
1 |
Rs.66.69 |
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.