MIRA INFORM REPORT

 

 

Report Date :

23.05.2012

 

IDENTIFICATION DETAILS

 

Name :

HOLFELD PLASTICS LIMITED

 

 

Registered Office :

Avoca River Park Arklow, Co. Wicklow County

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

04.02.1980

 

 

Com. Reg. No.:

E0073493

 

 

Legal Form :

Private Parent

 

 

Line of Business :

Manufacturers of plastic packaging materials in Ireland

 

 

No. of Employees :

118

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

Holfeld Plastics Limited

 

 

 

Avoca River Park

 

 

Arklow,

Ireland

(Registered Address)

 

Employees:

118

Company Type:

Private Parent

Corporate Family:

2 Companies

 

 

Incorporation Date:

04-Feb-1980

Auditor:

Deloitte & Touche

 

 

 

 

 

 

 

Fiscal Year End:

31-Dec-2009

Reporting Currency:

Euro

Annual Sales:

21.5

Total Assets:

50.5

 

 

 

 

 

 

 

Business Description

 

 

Established in 1980, Holfeld Plastics Limited is one of the leading manufacturers of plastic packaging materials in Ireland. The company supplies a range of foam packaging materials to the cosmetic industry. In addition, it provides a variety of trays and containers to the food and non-food sectors. The company offers trays in several designs and colours for packaging foodstuff. In addition, it provides trays in various shapes and dimensions. The company distributes its products worldwide through a network of distributors. In addition, it operates and maintains several product manufacturing facilities.

 

Industry

 

 

Industry

Fabricated Plastic and Rubber

ANZSIC 2006:

1919 - Other Polymer Product Manufacturing

NACE 2002:

2523 - Manufacture of builders' ware of plastic

NAICS 2002:

32619 - Other Plastics Product Manufacturing

UK SIC 2003:

25239 - Manufacture of other builders' ware of plastic

US SIC 1987:

3089 - Plastics Products, Not Elsewhere Classified

 

 

 

Key Executives

 

 

Name

Title

 

Edmund Holfeld

Secretary, Director

 

John Martin Cullen

Director

 

Peter Michael Faulkner

Director

 

Brian Kealy

Director

 

Fergus Mcnamee

Director

 

 

Key IDSM Number:

 

43008327

 

 

Registered No.(IRE)

 

E0073493

 

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
Avoca River Park
Arklow, Co. Wicklow County
Ireland

 

 

 

Suggest Company URL

 

Sales EUR(mil):

15.4

Assets EUR(mil):

35.2

Employees:

118

Fiscal Year End:

31-Dec-2009

 

Industry:

Fabricated Plastic and Rubber

Incorporation Date:

04-Feb-1980

Company Type:

Private Parent

Quoted Status:

Not Quoted

Registered No.(IRE):

E0073493

 

Director:

John Martin Cullen

 

 

Industry Codes

 

 

 

ANZSIC 2006 Codes:

1919

-

Other Polymer Product Manufacturing

 

NACE 2002 Codes:

2524

-

Manufacture of other plastic products

2523

-

Manufacture of builders' ware of plastic

 

NAICS 2002 Codes:

32619

-

Other Plastics Product Manufacturing

 

US SIC 1987:

3089

-

Plastics Products, Not Elsewhere Classified

 

UK SIC 2003:

2524

-

Manufacture of other plastic products

25239

-

Manufacture of other builders' ware of plastic

 

 

Business Description

 

 

Established in 1980, Holfeld Plastics Limited is one of the leading manufacturers of plastic packaging materials in Ireland. The company supplies a range of foam packaging materials to the cosmetic industry. In addition, it provides a variety of trays and containers to the food and non-food sectors. The company offers trays in several designs and colours for packaging foodstuff. In addition, it provides trays in various shapes and dimensions. The company distributes its products worldwide through a network of distributors. In addition, it operates and maintains several product manufacturing facilities.

 

 

 

 

 

 

Financial Data

 

 

Financials in:

EUR(mil)

 

Revenue:

15.4

Assets:

35.2

Total Liabilities:

22.2

 

Working Capital:

3.6

 

Net Worth:

13.0

 

 

 

Date of Financial Data:

31-Dec-2009

 

1 Year Growth

NA

NA

 

Subsidiaries

Company

Percentage Owned

Country

Ranleigh Limited

 

Ireland

Fuller Patterns Limited

 

 

 

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche

 

Auditor:

Deloitte & Touche

 

 

 

 

 

Corporate Structure News

 

:

 

Holfeld Plastics Limited

Holfeld Plastics Limited
Total Corporate Family Members: 2

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Holfeld Plastics Limited

Parent

Arklow

Ireland

Fabricated Plastic and Rubber

21.5

118

 

Ranleigh Limited

Subsidiary

Dublin

Ireland

Business Services

0.4

 

 

 

 

Executives Report



 

Board of Directors

 

Name

Title

Function

 

John Martin Cullen

 

Director

Director/Board Member

 

Peter Michael Faulkner

 

Director

Director/Board Member

 

Edmund Holfeld

 

Secretary, Director

Director/Board Member

 

Brian Kealy

 

Director

Director/Board Member

 

Fergus Mcnamee

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Edmund Holfeld

 

Secretary, Director

Company Secretary

 

 

 Annual Profit & Loss

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.730637

0.796979

Consolidated

Yes

Yes

Yes

Yes

 

 

 

 

 

Turnover

21.5

23.7

25.7

23.9

Cost of Sales

15.1

19.4

19.9

16.9

Gross Profit

6.3

4.2

5.8

7.0

Operating Profit

1.8

-3.0

0.1

2.2

Non Trading Income

-

7.8

-

1.9

Interest Expenses

0.8

1.8

1.5

0.9

Pretax Profit

1.0

3.0

-1.4

3.2

Taxation

0.1

1.3

-0.1

0.1

Profit after Tax

0.9

1.7

-1.3

3.1

Dividends Payable

0.2

0.2

0.5

0.3

Retained Profits

0.8

1.5

-1.8

2.8

Value Added

9.9

7.3

10.6

9.9

Exports

17.8

16.9

18.3

18.0

Wages And Salaries

5.1

6.8

7.2

5.5

Directors’ Emoluments

1.2

1.1

0.9

0.9

Auditors Fees

0.1

0.1

0.1

0.1

Depreciation

2.5

2.8

2.5

1.6

Number of Employees

118

124

145

138

 

 

Annual Balance Sheet

 

 

 

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

0.758351

Consolidated

Yes

Yes

Yes

Yes

 

 

 

 

 

Tangible Assets

40.8

40.5

54.8

43.7

Intangible Assets

0.0

0.0

0.0

0.0

Total Fixed Assets

40.9

40.5

54.8

43.7

Stocks

2.5

2.0

2.7

2.3

Trade Debtors

3.7

3.1

4.0

5.1

Cash

3.0

1.1

0.8

0.9

Miscellaneous Current Assets

0.5

0.7

0.6

0.6

Other Current Assets

3.5

1.8

1.4

1.5

Total Current Assets

9.7

6.9

8.1

8.9

Total Assets

50.5

47.4

62.9

52.7

Net assets

46.1

42.4

57.5

46.2

Total Current Liabilities

4.5

5.0

5.5

6.5

Total Debt

27.6

25.6

34.6

23.9

Total Long Term Liabilities

27.4

25.1

34.2

23.6

Total Liabilities

31.9

30.1

39.7

30.0

Share Capital And Other Reserves

2.1

2.9

3.3

3.0

Profit & Loss Account Reserve

12.6

10.6

9.7

10.4

Revaluation Reserve

4.0

3.9

10.3

9.3

Shareholders Funds

18.7

17.3

23.3

22.6

Capital Employed

46.1

42.4

57.5

46.2

Net Worth

18.7

17.3

23.2

22.6

Working Capital

5.2

1.9

2.6

2.5

Contingent Liability

1.1

-

-

-

Fixed Assets

34.4

35.0

54.8

43.7

Intermediate Assets

6.5

5.5

0.0

0.0

Liquid Assets

7.2

4.9

5.5

6.6

Trade Creditors

0.9

2.2

2.1

2.0

Bank Overdraft

-

-

-

0.4

Miscellaneous Current Liabilities

3.6

2.8

3.4

4.2

    Bank Loans - Current Portion

0.8

0.7

0.7

0.6

    Other Short Term Finance

0.6

0.9

0.2

0.0

Other Current Liabilities

2.1

1.2

2.4

3.5

Short Term Loans

1.4

1.6

0.9

1.0

    Long Term Loans

26.2

24.0

33.7

22.9

    Long Term Bank Loans

24.4

22.9

32.6

22.7

Other Long Term Finance

1.8

1.0

1.1

0.2

Other Long Term Liabilities

1.2

1.1

0.6

0.6

Called Up Share Capital

0.9

0.9

0.9

0.8

Sundry Reserves (incl. Grants)

1.2

2.0

2.4

2.2

 

 

Annual Cash Flows

 

 

 

Financials in: USD (mil)

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.730637

0.796979

Consolidated

Yes

Yes

Yes

Yes

 

 

 

 

 

Net Cashflow From Operating Activities

2.9

2.2

7.7

3.6

Net Cashflow From ROI & Servicing Of Finance

-1.0

-2.0

-2.0

-1.1

Net Cashflow Before Financing

0.3

8.8

-7.1

-2.1

Net Cashflow From Financing

1.5

-8.4

7.0

1.6

Increase In Cash

1.8

0.3

-0.2

-0.5

Net Cash

2.9

1.2

0.8

0.5


Annual Ratios

 

 

 

 

31-Dec-2007

31-Dec-2006

Period Length

52 Weeks

52 Weeks

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

Yes

Yes

 

 

 

Current Ratio

1.48

1.38

Liquidity Ratio

1.00

1.02

Stock Turnover

10.32

10.83

Net Worth / Total Liabilities

58.56%

75.38%

Long Term Liab. / Net Worth

1.47

1.04

Pretax Profit / Capital Employed

-2.53%

7.24%

Pretax Profit / Total Assets

-2.31%

6.35%

Pretax Profit / Turnover

-5.30%

13.32%

Debtors Days

53.51

74.02

Creditors Days

28.11

28.39

 

 
 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.93

UK Pound

1

Rs.88.14

Euro

1

Rs.70.87

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.