MIRA
INFORM REPORT
|
Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
EURODIF |
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|
|
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Registered Office : |
24 Rue Du Sentier
Paris, 75002 |
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Country : |
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|
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.08.1996 |
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Reg. No.: |
408772101 |
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Legal Form : |
Private Subsidiary |
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|
|
|
Line of Business : |
Subject is engaged in retail sale of adults’ fur and
leather clothing |
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|
|
|
No. of Employees : |
1,518 |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
France |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
France - ECONOMIC OVERVIEW
France was transitioning from an economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms but is in the midst of a euro-zone crisis. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011. The unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011. Lower-than-expected growth and increased unemployment have cut government revenues and increased borrowing costs, contributing to a deterioration of France's public finances. The government budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011, while France's public debt rose from 68% of GDP to 86% over the same period. Under President SARKOZY, Paris implemented austerity measures that eliminated tax credits and froze most government spending in an effort to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt levels. Socialist Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, as well as measures such as forcing banks to separate their traditional deposit taking and lending activities from more speculative businesses, increasing taxes on bank profits, introducing a new top bracket on income taxes for people earning over €1 million ($1.3 million) a year, and hiring an additional 60,000 civil servants during his five-year term of office.
|
Source : CIA |
Company Name and Address
EURODIF
24 Rue Du Sentier
Paris, 75002
France
Tel: +33
01 44 82 10 10
Fax: +33
01 40 28 45 84
Employees: 1,518
Company Type: Private Subsidiary
Corporate Family: 5 Companies
Ultimate Parent: Omnium De
Participations
Incorporation Date: 15-Aug-1996
Financials in: USD (In
Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 234.3
Total Assets: 193.7
Business Description
Eurodif is primarily engaged in retail sale of adults’ fur
and leather clothing; retail sale of children’s and infants’ clothing;
retail sale of other women’s clothing; and retail sale of footwear and
leather goods.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
Johanna Reynolds |
President |
News
|
Title |
Date |
|
Concerto
European Developer annonce la construction pour Eurodif d'une plateforme
logistique de 24 700 m² à Troyes |
19-Oct-2012 |
|
Concerto European
Developer announces the construction of a 24,700 sqm logistics platform for
Eurodif in Troyes |
19-Oct-2012 |
|
Areva to
stop producing enriched uranium at Eurodif site |
4-Jun-2012 |
|
SENATE
PASSES HOUSE-APPROVED GPX BILL, SENDING MEASURE TO PRESIDENT |
9-Mar-2012 |
Registered No.(FRA): 408772101
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
24 Rue Du Sentier
Paris, 75002
France
Tel: +33
01 44 82 10 10
Fax: +33
01 40 28 45 84
Sales EUR(mil): 168.5
Assets EUR(mil): 149.2
Employees: 1,518
Fiscal Year End: 31-Dec-2011
Industry: Retail
(Apparel)
Incorporation Date: 15-Aug-1996
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(FRA): 408772101
President: Johanna
Reynolds
Industry
Codes
|
ANZSIC 2006 Codes: |
||
|
4251 |
- |
Clothing Retailing |
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NACE 2002 Codes: |
||
|
5242 |
- |
Retail sale of clothing |
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NAICS 2002 Codes: |
||
|
4481 |
- |
Clothing Stores |
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US SIC 1987: |
||
|
5611 |
- |
Men's and Boys' Clothing and Accessory Stores |
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UK SIC 2003: |
||
|
5242 |
- |
Retail sale of clothing |
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UK SIC 2007: |
||
|
4771 |
- |
Retail sale of clothing in specialised stores |
Business
Description
Eurodif is primarily engaged in retail sale of adults’ fur and leather clothing; retail sale of children’s and infants’ clothing; retail sale of other women’s clothing; and retail sale of footwear and leather goods.
Financial
Data
|
Financials in: |
EUR(mil) |
1 Year Growth |
|
Revenue: |
168.5 |
-4.4% |
|
Assets: |
149.2 |
NA |
|
Current Assets: |
49.0 |
|
|
Total Liabilities: |
149.2 |
|
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Issued Capital: |
89.8 |
|
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Net Worth: |
98.6 |
|
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Date of Financial Data: |
31-Dec-2011 |
Key Corporate Relationships
Bank: Bnp Paribas, Banque De Bretagne
Corporate
Structure News
Eurodif
Total Corporate Family Members: 5
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Paris |
France |
Miscellaneous Financial Services |
10.2 |
4 |
|
|
Subsidiary |
Paris |
France |
Retail (Apparel) |
234.3 |
1,518 |
|
|
Subsidiary |
Paris |
France |
Retail (Apparel) |
144.0 |
823 |
|
|
Subsidiary |
Paris |
France |
Retail (Apparel) |
183.4 |
755 |
|
|
Subsidiary |
Gouesnou |
France |
Commercial Banks |
|
34 |
Executives
|
|
|
|||
|
President |
President |
News
|
Concerto
European Developer annonce la construction pour Eurodif d'une plateforme
logistique de 24 700 m² à Troyes |
19-Oct-2012 |
|
Concerto
European Developer announces the construction of a 24,700 sqm logistics
platform for Eurodif in Troyes |
19-Oct-2012 |
|
Areva to
stop producing enriched uranium at Eurodif site |
04-Jun-2012 |
|
SENATE
PASSES HOUSE-APPROVED GPX BILL, SENDING MEASURE TO PRESIDENT |
09-Mar-2012 |
Articles
|
France :
EURODIF s uranium enrichment plant ceases production permanently |
08-Jun-2012 |
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
243.0 |
240.5 |
251.4 |
|
Net sales |
234.3 |
233.4 |
243.2 |
|
Change in stock |
3.9 |
-6.7 |
8.9 |
|
Subsidies for operating costs |
0.2 |
0.2 |
0.3 |
|
Supplementary operating income |
8.5 |
6.9 |
7.8 |
|
Other operating income |
0.0 |
0.0 |
0.0 |
|
Other external charges |
61.0 |
54.3 |
56.2 |
|
Cost of goods sold |
96.7 |
106.5 |
101.4 |
|
Taxes and social security costs |
4.8 |
4.6 |
4.7 |
|
Social charges |
17.5 |
15.9 |
16.7 |
|
Total payroll costs |
45.3 |
42.2 |
45.3 |
|
Cost of stock depreciation and
amortisation |
5.3 |
5.6 |
5.8 |
|
Fixed asset depreciation and amortisation |
3.8 |
3.7 |
3.7 |
|
Other operating costs |
1.4 |
1.1 |
0.9 |
|
Total operating
costs |
239.7 |
227.2 |
243.6 |
|
Net operating
income |
3.3 |
13.3 |
7.8 |
|
Total financial
income |
0.4 |
0.5 |
1.0 |
|
Interest payable on loans |
0.2 |
0.2 |
0.4 |
|
Other expenses |
0.3 |
0.3 |
1.5 |
|
Total expenses |
0.5 |
0.4 |
1.9 |
|
Profit before tax |
3.2 |
13.3 |
6.9 |
|
Extraordinary income |
0.1 |
4.1 |
2.2 |
|
Extraordinary expenses |
3.4 |
3.9 |
3.0 |
|
Extraordinary result |
-3.3 |
0.3 |
-0.8 |
|
Total taxation |
-0.1 |
0.3 |
-0.1 |
|
Net profit |
- |
13.2 |
6.3 |
|
Net loss |
0.0 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
116.6 |
120.5 |
128.8 |
|
Share premium account |
0.1 |
0.1 |
0.1 |
|
Total reserves |
11.3 |
3.7 |
0.4 |
|
Profits for the year |
0.0 |
13.4 |
6.5 |
|
Total stockholders
equity |
128.0 |
137.7 |
135.8 |
|
Provisions and allowances |
2.6 |
3.9 |
5.1 |
|
Trade creditors |
29.7 |
30.8 |
30.9 |
|
Advances received |
0.3 |
0.2 |
0.3 |
|
Bank loans and overdrafts |
6.5 |
0.1 |
7.2 |
|
Current bank debts |
0.0 |
0.1 |
0.1 |
|
Other loans |
8.5 |
2.1 |
0.0 |
|
Other liabilities |
0.7 |
0.7 |
0.8 |
|
Debts on fixed assets |
3.0 |
0.9 |
1.5 |
|
Income stated in advance |
0.0 |
0.0 |
- |
|
Taxation and social security |
14.3 |
15.1 |
16.5 |
|
Total current
liabilities |
62.7 |
49.6 |
56.9 |
|
Total debts |
63.0 |
49.9 |
57.2 |
|
Regularisation account |
- |
- |
0.1 |
|
Total
liabilities (including net worth) |
193.7 |
191.5 |
198.2 |
|
Patents |
0.3 |
0.2 |
0.0 |
|
Goodwill |
113.3 |
117.2 |
125.4 |
|
Other intangibles |
0.3 |
0.1 |
0.1 |
|
Other fixed assets |
14.4 |
11.5 |
13.1 |
|
Other financial assets |
1.6 |
1.7 |
1.8 |
|
Total
non-current assets |
130.1 |
130.6 |
140.4 |
|
Prepayments |
0.1 |
0.1 |
0.1 |
|
Net stocks and work in progress |
41.7 |
46.5 |
43.0 |
|
Trade debtors |
0.6 |
0.4 |
0.6 |
|
Other receivables |
2.4 |
2.9 |
3.5 |
|
Prepaid expenses |
4.9 |
4.7 |
3.1 |
|
Cash and liquid assets |
13.9 |
6.3 |
7.5 |
|
Total current
assets |
63.6 |
60.9 |
57.8 |
|
Prepaid expenses and deferred costs |
- |
- |
0.0 |
|
Total assets |
193.7 |
191.5 |
198.2 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.00 |
1.20 |
1.00 |
|
Quick ratio |
0.30 |
0.30 |
0.30 |
|
Total liabilities to net worth |
4.49% |
2.46% |
5.52% |
|
Net worth to total assets |
0.07% |
0.11% |
0.05% |
|
Collection period |
0.90 |
0.50 |
0.80 |
|
Stock turnover rate |
5.20 |
5.10 |
5.80 |
|
Asset turnover |
1.13% |
1.24% |
1.27% |
|
Profit margin |
0.01% |
0.06% |
0.03% |
|
Return on assets |
0.02% |
0.07% |
0.04% |
|
Shareholders' return |
0.21% |
0.66% |
0.69% |
|
Sales per employee |
750.33 |
761.71 |
683.25 |
|
Profit per employee |
10.13 |
43.42 |
19.51 |
|
Average wage per employee |
145.03 |
137.78 |
127.19 |
|
Net worth |
128.0 |
137.7 |
135.8 |
|
Number of employees |
1,473 |
1,518 |
1,679 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.