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Report Date : |
16.12.2013 |
IDENTIFICATION DETAILS
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Name : |
NFM ALLOYZ SA |
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Formerly Known As : |
NFM TRADING SA |
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Registered Office : |
19-21, Rte d'Arlon, 8009 Strassen, |
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Country : |
Luxembourg |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.06.1994 |
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Legal Form : |
Société Anonyme |
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Line of Business : |
Trader of industrial products, metal products (ferrous), chemical
products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Luxembourg |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
LUXEMBOURG - ECONOMIC
OVERVIEW
This small, stable, high-income economy - benefiting from its proximity to France, Belgium, and Germany - has historically featured solid growth, low inflation, and low unemployment. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, rubber, and other products. Growth in the financial sector, which now accounts for about 27% of GDP, has more than compensated for the decline in steel. Most banks are foreign-owned and have extensive foreign dealings, but Luxembourg has lost some of its advantages as a favorable tax location because of OECD and EU pressure. The economy depends on foreign and cross-border workers for about 40% of its labor force. Luxembourg, like all EU members, suffered from the global economic crisis that began in late 2008, but unemployment has trended below the EU average. Following strong expansion from 2004 to 2007, Luxembourg's economy contracted 3.6% in 2009, but rebounded in 2010-11 before slowing again in 2012. The country continues to enjoy an extraordinarily high standard of living - GDP per capita ranks among the highest in the world, and is the highest in the euro zone. Turmoil in the world financial markets and lower global demand during 2008-09 prompted the government to inject capital into the banking sector and implement stimulus measures to boost the economy. Government stimulus measures and support for the banking sector, however, led to a 5% government budget deficit in 2009. Nevertheless, the deficit was cut to 1.1% in 2011 and 0.9% in 2012. Even during the financial crisis and recovery, Luxembourg retained the highest current account surplus as a share of GDP in the euro zone, owing largely to their strength in financial services. Public debt remains among the lowest of the region although it has more than doubled since 2007 as percentage of GDP. Luxembourg's economy, while stabile, grew slowly in 2012 due to ongoing weak growth in the euro area. Authorities have strengthened supervision of domestic banks because of their exposure to the activities of foreign banks.
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Source
: CIA |
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Legal form
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Société Anonyme |
Foundation
|
06.06.1994 as Société Anonyme |
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Company age: 19 years |
Trade register
|
06.06.1994, RC 2080 Luxembourg, B 47.909 |
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Date |
Reason |
Change |
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06.06.1994 |
First entry |
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05.09.1996 |
Change of registered business address |
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30.04.2013 |
Change of registered business address |
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18.10.2013 |
Change of name |
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Additional
information on the public limited company
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Shareholders and
Capital
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Shareholder |
|
|
100,00 % |
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share capital |
372.000 EUR |
Management and
power of representation
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Board of Administration
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22.12.1994 |
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22.12.1994 |
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31.07.2008 |
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Commissioner
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06.06.1994 |
Registered business objective
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Trade industrial products,
metal products (ferrous), chemical products |
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NACELUX 1.1 |
Description |
Ranking |
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51.522 |
Wholesale of metals and metal ores |
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Staff and Annual Sales
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Fiscal year |
||||
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Staff |
2013 |
2012 |
2011 |
2010 |
2009 |
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Total |
10 |
10 |
10 |
10 |
10 |
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- in personal union with "NFM Alliages SA" - |
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Fiscal year |
||||
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Kind of annual sales |
01.01.2012 - 31.12.2012 |
01.01.2011 - 31.12.2011 |
01.01.2010 - 31.12.2010 |
01.01.2009 - 31.12.2009 |
01.01.2008 - 31.12.2008 |
|
Annual sales |
117.537 k EUR |
120.870 k EUR |
114.602 k EUR |
61.616 k EUR |
99.143 k EUR |
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Import |
Export |
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Rate |
unknown |
8 % |
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Countries |
unknown |
unknown |
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Business premises of abt. 250 sq.m. are rented per month. |
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Verification of information on real estate property not possible for
lack of insight into land register files. |
Balance sheet
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Type of account: |
Annual report |
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|||
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Assets |
in EUR |
in EUR |
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Balance sheet total |
25.460.936,39 |
20.289.554,76 |
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Concessions and industrial rights |
52.073,37 |
430,03 |
|
Technical equipment and machines |
4.953,73 |
7.274,10 |
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Factory and office equipment |
8.558,76 |
25.244,54 |
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Securities of fixed assets |
2.479,00 |
2.479,00 |
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Finished goods |
5.756.964,56 |
5.074.839,21 |
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Down payments made |
850.613,01 |
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Accounts receivable |
7.731.816,04 |
6.919.317,31 |
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Receivables from affiliates |
8.023.361,55 |
5.536.572,94 |
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Other assets |
2.990.352,62 |
2.673.334,35 |
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Cheque, cash in hand and in banks |
29.508,23 |
109,30 |
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Deferred items - assets - |
10.255,52 |
49.953,98 |
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Liabilities |
in EUR |
in EUR |
|
Balance sheet total |
25.460.936,39 |
20.289.554,76 |
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Subscribed capital, credit balance, capital accounts |
372.000,00 |
372.000,00 |
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Legal reserves |
37.200,00 |
37.200,00 |
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Other profit reserves |
692.312,25 |
602.537,25 |
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Profit carried forward |
548.676,68 |
580.050,42 |
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Net profit |
1.349.034,75 |
1.158.401,26 |
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Tax provisions |
2.376.442,00 |
1.766.192,00 |
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Other provisions |
74.000,00 |
251.106,93 |
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Liabilities towards credit institutes |
10.370.763,74 |
8.294.145,69 |
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Down payment received |
200.000,00 |
230.446,71 |
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Accounts payable |
5.478.410,25 |
2.778.768,97 |
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Liabilities towards affiliates |
3.702.671,41 |
3.406.392,70 |
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Other liabilities |
259.425,31 |
812.312,83 |
Profit and Loss
Account
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Calculation type: |
Total expenditure format |
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|||
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Sales revenues |
117.537.372,03 |
120.869.638,78 |
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Change in stock (+/-) |
0,00 |
0,00 |
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Own work capitalized |
0,00 |
0,00 |
|
Other operating income |
1.003.522,89 |
1.245.295,17 |
|
Cost of materials |
114.580.374,61 |
118.113.563,38 |
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Gross result |
3.960.520,31 |
4.001.370,57 |
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Staff costs |
1.675.097,62 |
1.670.639,44 |
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Depreciations |
76.297,74 |
86.543,85 |
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Other operating expenses |
58.735,54 |
116.883,70 |
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Operating result |
2.150.389,41 |
2.127.303,58 |
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Income from participations |
0,00 |
0,00 |
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Interests and similar income |
99.789,03 |
74.109,40 |
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Interests and similar expenses |
353.666,45 |
328.435,97 |
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Interest income |
-253.877,42 |
-254.326,57 |
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Result on ordinary activities |
1.896.511,99 |
1.872.977,01 |
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Extraordinary result |
62.772,76 |
-196.575,75 |
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Taxes on income |
610.250,00 |
518.000,00 |
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Other taxes |
0,00 |
0,00 |
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Other balance sheet items that change the annual result |
0,00 |
0,00 |
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Net profit / net loss |
1.349.034,75 |
1.158.401,26 |
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Changes following annual result |
0,00 |
0,00 |
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Balance sheet profit / balance sheet loss |
1.349.034,75 |
1.158.401,26 |
Balance sheet
ratios
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Remarks
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The figures are consolidated in the accounts of "BBFG SA", |
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200, Rue de Luxembourg, 8077 Bertrange. |
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Associated company: |
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- NFM Alliages SA, 200, Rue de Luxembourg, 8077 Bertrange |
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Name of the
bank |
Sort code |
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KBL European Private Bankers S.A. |
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Dexia Banque Belgique |
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Fortis Bank Nederland N.V. |
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Payment information and assessment of business connections
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There are no negative facts. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.101.53 |
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Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.