MIRA INFORM REPORT

 

 

Report Date :

23.06.2012

 

IDENTIFICATION DETAILS

 

Name :

ROSET SA

 

 

Registered Office :

route Pont, Briord, 01470

 

 

Country :

France

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

15.01.1959

 

 

Com. Reg. No.:

545920076

 

 

Legal Form :

Private Parent Company            

 

 

Line of Business :

Manufacture of household furniture and home furnishings, including wardrobes, bookcases, beds, dining tables, stools, chairs and sofas and bathroom furniture

 

 

No. of Employees :

884

 

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 :

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

France

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address  

 

Roset SA

route Pont

Briord, 01470

France

Tel:       +33 04 74 36 17 00

Fax:      +33 04 74 36 12 92

Web:    www.ligneroset.fr

           

 

Registration data 

 

Employees:                  884

Company Type:            Private Parent

Corporate Family:          4 Companies

Incorporation Date:         15-Jan-1959     

Financials in:                 USD (Millions)

Fiscal Year End:            30-Sep-2011

Reporting Currency:       Euro

Annual Sales:               136.8

Total Assets:                90.3

 

 

Business Description     

 

Manufacture of household furniture and home furnishings, including wardrobes, bookcases, beds, dining tables, stools, chairs and sofas and bathroom furniture

 

Industry

Industry            Furniture and Fixtures

ANZSIC 2006:    2511 - Wooden Furniture and Upholstered Seat Manufacturing

NACE 2002:      3611 - Manufacture of chairs and seats

NAICS 2002:     337122 - Nonupholstered Wood Household Furniture Manufacturing

UK SIC 2003:    3611 - Manufacture of chairs and seats

US SIC 1987:    2511 - Wood Household Furniture, Except Upholstered

 

           

Key Executives   

 

Name

Title

Pierre Roset

President

Patrick Sztajnbok

Commercial director, Marketing director

Charles Lacoste

Director

Rene Subit

Directeur Informatique

Ludovic Auchet

Purchase manager

 

News  

 

Title

Date

BIRSE *, a bristle, to bristle THE Scottish National Dictionary...
Herald, The (Scotland) (304 Words)

24-Mar-2012

On the road to fall trends
Trenton Times (NJ) (551 Words)

15-Sep-2011

Decor trends follow many different routes
Hamilton Spectator, The (Ontario, Canada) (555 Words)

3-Sep-2011

 

 

Registered No.(FRA): 545920076

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.717768

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7453231

 

 

Corporate Overview

 

Location

route Pont

Briord, 01470

France

Tel:       +33 04 74 36 17 00

Fax:      +33 04 74 36 12 92

Web:    www.ligneroset.fr

           

Sales EUR(mil):             98.2

Assets EUR(mil):           67.3

Employees:                   884

Fiscal Year End:            30-Sep-2011

Industry:                        Furniture and Fixtures

Incorporation Date:         15-Jan-1959

Company Type:             Private Parent

Quoted Status:              Not Quoted

Registered No.(FRA):     545920076

President:                     Pierre Roset

 

Contents

Industry Codes

Business Description

Brand/Trade Names

Financial Data

Subsidiaries

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2519     -          Other Furniture Manufacturing

2511     -          Wooden Furniture and Upholstered Seat Manufacturing

2513     -          Mattress Manufacturing

 

NACE 2002 Codes:

3615     -          Manufacture of mattresses

3614     -          Manufacture of other furniture

3611     -          Manufacture of chairs and seats

 

NAICS 2002 Codes:

337125  -          Household Furniture (except Wood and Metal) Manufacturing

337910  -          Mattress Manufacturing

337122  -          Nonupholstered Wood Household Furniture Manufacturing

337129  -          Wood Television, Radio, and Sewing Machine Cabinet Manufacturing

337121  -          Upholstered Household Furniture Manufacturing

 

US SIC 1987:

2511     -          Wood Household Furniture, Except Upholstered

2519     -          Household Furniture, Not Elsewhere Classified

2515     -          Mattresses, Foundations, and Convertible Beds

2517     -          Wood Television, Radio, Phonograph, and Sewing Machine Cabinets

2512     -          Wood Household Furniture, Upholstered

 

UK SIC 2003:

3615     -          Manufacture of mattresses

3614     -          Manufacture of other furniture

3611     -          Manufacture of chairs and seats

 

Business Description

Manufacture of household furniture and home furnishings, including wardrobes, bookcases, beds, dining tables, stools, chairs and sofas and bathroom furniture

 

More Business Descriptions

Roset Sa is primarily engaged in manufacture of various wooden products: wooden handles and bodies for tools, brooms, brushes; wooden boot or shoe lasts and trees, clothes hangers; household utensils and kitchen-ware of wood; coat and hat racks; wooden statuettes and ornaments, wood marquetry, inlaid wood; wooden caskets and cases for jewellery, cutlery and similar articles; wooden coffins; wooden spools, cops, bobbins, sewing thread reels and similar articles of turned wood; and other articles of wood.

 

Household and Institutional Furniture Manufacturing

 

Brand/Trade Names

Ligne Roset

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

98.2

Assets:

67.3

Current Assets:

39.0

 

Total Liabilities:

67.3

 

Issued Capital:

10.0

 

Net Worth:

36.3

 

 

 

Date of Financial Data:

30-Sep-2011

 

1 Year Growth

-0.8%

NA

Subsidiaries

Company

Percentage Owned

Country

Roset - Möbel Gesellschaft Mit Beschränkter Haftung

 

Germany

Roset Italia Srl

 

Italy

Cinna

 

France

Roset (Suisse) Sa

 

Switzerland

Roset USA Corporation

 

United States of America

 

 

 

 

Key Corporate Relationships

Bank:

Bra Lyonnaise De Banque, Bnp Paribas, Societe Generale

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Roset SA

Roset SA 
Total Corporate Family Members: 4 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Roset SA

Parent

Briord

France

Furniture and Fixtures

136.8

884

Roset - Mobel Gesellschaft mit beschränkter Haftung

Subsidiary

Gundelfingen, Baden-Wurttemberg

Germany

Miscellaneous Capital Goods

 

60

Cinna

Subsidiary

Briord

France

Miscellaneous Capital Goods

26.1

34

Roset Italia SRL

Subsidiary

Milano, Milano

Italy

Miscellaneous Capital Goods

2.2

4

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Pierre Roset

 

President

President

 

Charles Lacoste

 

Director

Administration Executive

 

Bernard Lipp

 

General manager

Administration Executive

 

Michel Roset

 

General manager

Administration Executive

 

Bernard Thery

 

Director

Administration Executive

 

René Romeggio

 

Directeur Comptabilité

Accounting Executive

 

Brice Verheecke

 

Accounts manager

Sales Executive

 

Claude Martin

 

Directeur International

International Executive

 

Patrick Sztajnbok

 

Commercial director, Marketing director

Marketing Executive

 

René Subit

 

Directeur Informatique

Information Executive

 

Christophe Sicaud

 

Directeur Technique

Engineering/Technical Executive

 

Ludovic Auchet

 

Purchase manager

Purchasing Executive

 

Social: 

Robert Duffour

 

Responsable Achats

Purchasing Executive

 

 

 

 

Annual Profit & Loss

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.717768

0.740255

0.73971

Consolidated

No

No

No

 

 

 

 

Total income

139.7

136.0

135.4

Net sales

136.8

133.7

131.7

Change in stock

-

-

1.7

Subsidies for operating costs

0.3

0.3

0.3

Supplementary operating income

2.2

2.0

4.1

Other operating income

0.8

0.8

0.6

Other external charges

33.3

29.5

30.2

Cost of goods sold

54.7

51.7

51.5

Taxes and social security costs

3.9

3.8

3.9

Social charges

12.6

12.3

12.6

Total payroll costs

32.1

31.6

34.1

Cost of stock depreciation and amortisation

1.8

1.9

1.9

Fixed asset depreciation and amortisation

5.7

5.7

5.9

Other operating costs

0.2

0.1

0.1

Total operating costs

144.2

136.6

141.8

Total financial income

0.6

0.6

1.6

Interest payable on loans

0.8

0.9

1.0

Other expenses

0.7

0.5

0.5

Total expenses

1.5

1.4

1.5

Extraordinary income

0.1

4.2

0.2

Extraordinary expenses

0.1

0.1

1.5

Extraordinary result

0.0

4.2

-

Total taxation

0.0

-

-

Net profit

-

3.1

-

Net loss

5.4

-

4.9

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745323

0.732493

0.684135

Consolidated

No

No

No

 

 

 

 

Issued capital

13.4

13.7

14.6

Share premium account

1.2

1.2

1.3

Surplus of revaluation

0.0

0.1

0.1

Legal reserves

0.0

0.0

0.0

Total reserves

39.2

36.8

44.7

Profits for the year

-

3.2

-

Total stockholders equity

48.8

54.9

55.4

Provisions and allowances

1.2

1.1

0.9

Trade creditors

4.4

4.7

4.8

Advances received

2.8

2.9

4.0

Bank loans and overdrafts

17.6

14.4

19.1

Current bank debts

4.0

4.5

9.2

Other loans

1.5

1.6

1.7

Other liabilities

2.1

1.4

1.6

Debts on fixed assets

0.6

0.5

0.5

Income stated in advance

0.1

0.1

0.1

Taxation and social security

11.2

11.8

12.6

Total current liabilities

26.0

26.3

30.7

Total debts

40.3

37.5

44.3

Total liabilities (including net worth)

90.3

93.4

100.6

Patents

0.3

0.2

0.2

Goodwill

3.1

2.7

2.9

Land

1.5

1.5

1.6

Buildings

20.7

22.5

25.6

Other fixed assets

5.9

4.4

5.7

Long-term investments

4.6

2.4

2.5

Other financial assets

1.5

1.4

1.4

Total non-current assets

37.6

35.0

40.0

Prepayments

1.1

1.0

1.2

Net stocks and work in progress

23.9

24.4

27.0

Trade debtors

17.8

22.4

26.0

Other receivables

6.0

3.1

4.4

Prepaid expenses

1.2

1.1

1.0

Cash and liquid assets

2.4

6.2

0.8

Total current assets

52.3

58.2

60.5

Prepaid expenses and deferred costs

0.5

0.2

0.1

Total assets

90.3

93.4

100.6

 

Annual Ratios

Financials in: USD (mil)

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745323

0.732493

0.684135

Consolidated

No

No

No

 

 

 

 

Current ratio

2.00

2.20

2.00

Quick ratio

1.10

1.30

1.10

Total liabilities to net worth

0.90%

0.72%

0.85%

Net worth to total assets

0.50%

0.56%

0.52%

Collection period

41.10

50.40

55.50

Stock turnover rate

5.50

5.50

5.30

Asset turnover

1.46%

1.45%

1.42%

Sales per employee

751.47

734.24

665.52

Average wage per employee

176.25

173.62

172.31

Net worth

48.8

54.9

55.4

Number of employees

857

884

960

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.99

UK Pound

1

Rs.88.97

Euro

1

Rs.71.57

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.