MIRA
INFORM REPORT
|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
COLINE DIFFUSION |
|
|
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Registered Office : |
Za La Saubole, Fourques Sur Garonne, 47200 |
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|
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Country : |
France |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.09.1987 |
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Com. Reg. No.: |
342450483 |
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Legal Form : |
Public Independent Company |
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|
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Line of Business : |
wholesaler of adults'
fur and leather clothing Wholesaler of
children's and infants' clothing Wholesaler of
footwear wholesaler of clothing |
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|
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No. of Employees : |
47 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
France |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
france ECONOMIC OVERVIEW
The French economy
is diversified across all sectors. The government has partially or fully
privatized many large companies, including Air France, France Telecom, Renault,
and Thales. However, the government maintains a strong presence in some
sectors, particularly power, public transport, and defense industries. With at
least 79 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,
before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to
10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of
2012 in metropolitan France. Lower-than-expected growth and high unemployment
costs have strained France's public finances. The budget deficit rose sharply
from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP
in 2012, while France's public debt rose from 68% of GDP to 89% over the same
period. Under President SARKOZY, Paris implemented some austerity measures 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. Socialist Party candidate Francois
HOLLANDE won the May 2012 presidential election, after advocating pro-growth
economic policies, the separation of banks' traditional deposit taking and
lending activities from more speculative businesses, increasing the top
corporate and personal tax rates, and hiring an additional 60,000 teachers
during his five-year term. The government's attempt to introduce a 75% wealth
tax on income over one million euros for two years was struck down by the
French Constitutional Council in December 2012 because it applied to
individuals rather than households. France ratified the EU fiscal stability
treaty in October 2012 and HOLLANDE's government has maintained France's
commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid
signs that economic growth will be lower than the government's forecast of
0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs
declined during the second half of 2012 to euro-era lows.
|
Source : CIA |
Company
name & address
Coline Diffusion
Za La Saubole
Fourques Sur Garonne, 47200
France
Tel:
+33 05 53 20 06 53
Fax: +33
05 53 20 16 79
Synthesis
Employees:
47
Company Type: Public
Independent
Incorporation Date: 15-Sep-1987
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency:
Euro
Annual Sales:
11.6
Total Assets:
11.8
Business
Description
Coline Diffusion
is primarily engaged in wholesale of adults' fur and leather clothing;
wholesale of children's and infants' clothing; wholesale of footwear; and
wholesale of clothing not elsewhere classified.
Industry
Industry Clothing and
Apparel Wholesale
ANZSIC 2006:
371 - Textile, Clothing and Footwear Wholesaling
ISIC Rev 4:
4641 - Wholesale of textiles, clothing and footwear
NACE Rev 2:
4642 - Wholesale of clothing and footwear
NAICS 2012:
4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers
UK SIC 2007:
4642 - Wholesale of clothing and footwear
US SIC 1987:
5136 - Men's and Boy's Clothing and Furnishings
Key Executives
|
Name |
Title |
|
Philippe Gallo |
Chairman of the Board, Marketing director |
|
Martial Bissirieix |
General manager |
|
Christophe Cuzange |
Director |
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7566
Corporate
Overview
Location
Za La Saubole
Fourques Sur
Garonne, 47200
France
Tel: +33 05 53 20 06 53
Fax: +33 05 53 20 16 79
Sales EUR(mil): 9.0
Assets EUR(mil): 8.9
Employees: 47
Fiscal Year End: 31-Dec-2012
Industry: Apparel and Accessories
Incorporation
Date: 15-Sep-1987
Company Type: Public Independent
Quoted Status: Not Quoted
Registered
No.(FRA): 342450483
Chairman of the Board,
Marketing director:
Philippe Gallo
Industry Codes
ANZSIC 2006
Codes:
371 - Textile,
Clothing and Footwear Wholesaling
3739 - Other
Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4 Codes:
4641 - Wholesale
of textiles, clothing and footwear
4690 - Non-specialized
wholesale trade
NACE Rev 2 Codes:
4642 - Wholesale
of clothing and footwear
4690 - Non-specialised
wholesale trade
NAICS 2012 Codes:
4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers
423990 - Other
Miscellaneous Durable Goods Merchant Wholesalers
US SIC 1987:
5136 - Men's
and Boy's Clothing and Furnishings
5099 - Durable
Goods, Not Elsewhere Classified
UK SIC 2007:
4642 - Wholesale
of clothing and footwear
4690 - Non-specialised
wholesale trade
Business
Description
Coline Diffusion is
primarily engaged in wholesale of adults' fur and leather clothing; wholesale
of children's and infants' clothing; wholesale of footwear; and wholesale of
clothing not elsewhere classified.
Executive report
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Annual
Profit & Loss
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
13.4 |
14.5 |
14.3 |
|
Net sales |
11.6 |
12.7 |
13.0 |
|
Change in stock |
1.2 |
-1.4 |
-1.7 |
|
Supplementary operating income |
1.7 |
1.8 |
1.3 |
|
Other operating income |
0.0 |
0.0 |
0.0 |
|
Other external charges |
1.9 |
2.1 |
1.8 |
|
Cost of goods sold |
5.2 |
7.8 |
8.3 |
|
Taxes and social security costs |
0.2 |
0.2 |
0.2 |
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Social charges |
0.7 |
0.8 |
0.7 |
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Total payroll costs |
1.6 |
1.8 |
1.7 |
|
Cost of stock depreciation and amortisation |
2.0 |
1.8 |
1.7 |
|
Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
|
Other operating costs |
0.0 |
0.1 |
0.0 |
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Total operating costs |
13.0 |
13.3 |
12.7 |
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Net operating income |
0.4 |
1.2 |
1.6 |
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Total financial income |
0.3 |
0.2 |
0.3 |
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Interest payable on loans |
0.1 |
0.1 |
0.1 |
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Other expenses |
0.1 |
0.3 |
0.1 |
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Total expenses |
0.2 |
0.4 |
0.2 |
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Profit before tax |
0.4 |
0.9 |
1.7 |
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Extraordinary income |
0.1 |
0.1 |
0.1 |
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Extraordinary expenses |
0.6 |
0.0 |
0.1 |
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Extraordinary result |
-0.5 |
0.1 |
0.0 |
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Total taxation |
0.1 |
0.4 |
0.5 |
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Net profit |
- |
0.6 |
1.1 |
|
Net loss |
0.2 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
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Issued capital |
1.0 |
0.9 |
1.0 |
|
Total reserves |
4.6 |
4.0 |
4.1 |
|
Profits for the year |
-0.2 |
0.6 |
1.2 |
|
Total stockholders equity |
5.4 |
5.5 |
6.2 |
|
Provisions and allowances |
0.9 |
0.2 |
0.2 |
|
Trade creditors |
1.5 |
2.2 |
2.6 |
|
Advances received |
0.0 |
0.0 |
0.0 |
|
Bank loans and overdrafts |
0.4 |
0.4 |
0.5 |
|
Other loans |
3.1 |
3.2 |
1.5 |
|
Other liabilities |
0.1 |
0.0 |
0.1 |
|
Debts on fixed assets |
- |
0.1 |
- |
|
Taxation and social security |
0.3 |
0.4 |
0.5 |
|
Total current liabilities |
5.1 |
5.9 |
4.8 |
|
Total debts |
5.4 |
6.3 |
5.2 |
|
Regularisation account |
0.0 |
0.2 |
0.0 |
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Total liabilities (including net worth) |
11.8 |
12.2 |
11.7 |
|
Patents |
0.0 |
0.0 |
0.0 |
|
Goodwill |
0.7 |
0.6 |
0.7 |
|
Other intangibles |
0.0 |
0.0 |
- |
|
Land |
0.0 |
0.0 |
- |
|
Buildings |
0.1 |
0.1 |
0.1 |
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Other fixed assets |
0.3 |
0.2 |
0.2 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Other financial assets |
0.2 |
0.1 |
0.1 |
|
Total non-current assets |
1.3 |
1.2 |
1.1 |
|
Prepayments |
1.4 |
1.9 |
2.7 |
|
Net stocks and work in progress |
5.9 |
7.2 |
6.2 |
|
Trade debtors |
0.7 |
0.7 |
0.5 |
|
Other receivables |
0.1 |
0.2 |
0.1 |
|
Prepaid expenses |
0.1 |
0.1 |
0.1 |
|
Cash and liquid assets |
2.2 |
0.9 |
1.1 |
|
Total current assets |
10.4 |
10.9 |
10.6 |
|
Prepaid expenses and deferred costs |
0.0 |
0.1 |
0.0 |
|
Total assets |
11.8 |
12.2 |
11.7 |
Annual Ratios
Financials in: USD (mil)
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
2.10 |
1.80 |
2.20 |
|
Quick ratio |
0.90 |
0.60 |
0.90 |
|
Total liabilities to net worth |
1.15% |
1.32% |
0.94% |
|
Net worth to total assets |
0.40% |
0.39% |
0.47% |
|
Collection period |
19.00 |
18.00 |
10.70 |
|
Stock turnover rate |
2.00 |
1.60 |
2.10 |
|
Asset turnover |
1.01% |
0.97% |
1.13% |
|
Profit margin |
0.04% |
0.07% |
0.13% |
|
Return on assets |
0.04% |
0.07% |
0.15% |
|
Shareholders' return |
0.10% |
0.18% |
0.31% |
|
Sales per employee |
1,261.29 |
1,329.14 |
1,426.18 |
|
Profit per employee |
47.62 |
95.68 |
184.93 |
|
Average wage per employee |
176.36 |
191.87 |
182.36 |
|
Net worth |
5.4 |
5.5 |
6.2 |
|
Number of employees |
47 |
45 |
45 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
UK Pound |
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.