MIRA
INFORM REPORT
|
Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DRESSER RAND SA |
|
|
|
|
Registered Office : |
31 boulevard Winston Churchill Le Havre, 76600 |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.01.1971 |
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|
|
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Com. Reg. No.: |
562060269 |
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|
|
|
Legal Form : |
Public Subsidiary |
|
|
|
|
Line of Business : |
Designer & Mfr of Turbine & Compressor |
|
|
|
|
No. of Employees : |
689 |
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 : |
Good |
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|
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Payment Behaviour : |
Regular |
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|
|
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
France |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
DRESSER RAND SA
31 boulevard Winston Churchill
Le Havre, 76600
France
Tel: +33
02 35 25 52 25
Fax: +33
02 35 25 53 67
Employees: 689
Company Type: Public Subsidiary
Corporate Family: 47 Companies
Ultimate Parent: Dresser-Rand
Group Inc.
Incorporation Date: 15-Jan-1971
Financials in: USD (In Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 325.1
Total Assets: 318.2
Business Description
Turbine & Compressor Designer & Mfr
Industry
|
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 |
|
Jean-Pierre Mullier |
Marketing director |
|
Pierre Dumas |
General manager |
|
Vincent Lafond |
Purchase manager |
|
Chairman |
|
|
Mark Mai |
Member of the Board |
News
|
Title |
Date |
|
Procurement
of spares for hcu cep turbine and sob steam turbine of rgc. |
1-Feb-2013 |
|
Agency
Reviews Patent Application Approval Request for "Method for On-Line
Detection of Liquid and Potential for the Occurrence of Resistance to... |
31-Jan-2013 |
|
Sources
Sought Notice - Filters |
30-Jan-2013 |
|
CONTRACT
AWARD - J-- COMPRESSOR UNIT,CEN, IN REPAIR/MODIFICATION OF |
30-Jan-2013 |
|
CONTRACT
AWARD - L-- MAINTENANCE REPAIR AND TECHNICAL REPRESENTATIVE FOR SHIP'S STEAM
AIR COMPRESSORS |
30-Jan-2013 |
Registered No.(FRA): 562060269
1 - Profit & Loss Item
Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Location
31 boulevard Winston Churchill
Le Havre, 76600
France
Tel: +33
02 35 25 52 25
Fax: +33
02 35 25 53 67
Website: www.dresser-rand.com
Sales EUR(mil): 233.8
Assets EUR(mil): 245.1
Employees: 689
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Capital Goods
Incorporation Date: 15-Jan-1971
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(FRA): 562060269
Chairman: Nicoletta
Giadrossi
|
ANZSIC 2006 Codes: |
||
|
2451 |
- |
Pump and Compressor Manufacturing |
|
NACE 2002 Codes: |
||
|
2912 |
- |
Manufacture of pumps and compressors |
|
NAICS 2002 Codes: |
||
|
333911 |
- |
Pump and Pumping Equipment Manufacturing |
|
333912 |
- |
Air and Gas Compressor Manufacturing |
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US SIC 1987: |
||
|
3561 |
- |
Pumps and Pumping Equipment |
|
3563 |
- |
Air and Gas Compressors |
|
UK SIC 2003: |
||
|
29121 |
- |
Manufacture of pumps |
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29122 |
- |
Manufacture of compressors |
|
UK SIC 2007: |
||
|
28131 |
- |
Manufacture of pumps |
|
28132 |
- |
Manufacture of compressors |
Manufacture of
compressors, steam turbines, expanders and gas turbine packages
More Business Descriptions
Turbine & Compressor
Designer & Mfr
Dresser Rand Sa is primarily
engaged in manufacture of pumps and compressors.
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|
Company |
Percentage
Owned |
Country |
|
Uz
Dresser-Rand |
|
Uzbekistan |
|
D-R
Holdings (UK) Ltd |
|
England |
|
Bank: |
Societe Generale, Bnp Paribas, Lcl - Credit Lyonnais |
Corporate
Structure News
Dresser
Rand SA
Total Corporate Family Members: 47
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Houston, TX |
United States |
Miscellaneous Capital Goods |
2,311.6 |
7,506 |
|
|
Division |
Wellsville, NY |
United States |
Appliance and Tool |
2.7 |
750 |
|
|
Division |
Painted Post, NY |
United States |
Appliance and Tool |
237.6 |
700 |
|
|
Subsidiary |
Kuala Lumpur, Kuala Lumpur |
Malaysia |
Miscellaneous Capital Goods |
52.3 |
70 |
|
|
Subsidiary |
Le Havre |
France |
Miscellaneous Capital Goods |
325.1 |
689 |
|
|
Subsidiary |
Oberhausen, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
44.8 |
100 |
|
|
Subsidiary |
Manchester |
United Kingdom |
Miscellaneous Capital Goods |
|
25 |
|
|
Subsidiary |
Chirchik |
Uzbekistan |
Oil Well Services and Equipment |
|
|
|
|
Subsidiary |
|
|
|
|
536 |
|
|
Division |
Worcester, MA |
United States |
Miscellaneous Capital Goods |
16.7 |
300 |
|
|
Division |
Burlington, IA |
United States |
Miscellaneous Capital Goods |
|
158 |
|
|
Subsidiary |
Peterborough |
United Kingdom |
Miscellaneous Capital Goods |
70.0 |
294 |
|
|
Subsidiary |
Houston, TX |
United States |
Miscellaneous Capital Goods |
26.0 |
250 |
|
|
Branch |
Burlington, IA |
United States |
Miscellaneous Capital Goods |
3.9 |
203 |
|
|
Branch |
Houston, TX |
United States |
Miscellaneous Capital Goods |
625.4 |
200 |
|
|
Branch |
Millbury, MA |
United States |
Miscellaneous Capital Goods |
4.2 |
150 |
|
|
Subsidiary |
Campinas, SP |
Brazil |
Miscellaneous Capital Goods |
|
117 |
|
|
Subsidiary |
Louisiana, MO |
United States |
Business Services |
|
100 |
|
|
Branch |
Jena, LA |
United States |
Miscellaneous Capital Goods |
35.2 |
50 |
|
|
Branch |
Marrero, LA |
United States |
Business Services |
0.5 |
4 |
|
|
Branch |
Kiefer, OK |
United States |
Miscellaneous Capital Goods |
0.7 |
3 |
|
|
Branch |
Houston, TX |
United States |
Miscellaneous Capital Goods |
61.8 |
80 |
|
|
Subsidiary |
Peterborough |
United Kingdom |
Investment Services |
|
|
|
|
Subsidiary |
Edmonton, AB |
Canada |
Miscellaneous Capital Goods |
76.2 |
60 |
|
|
Subsidiary |
Mississauga, ON |
Canada |
Miscellaneous Capital Goods |
11.9 |
8 |
|
|
Branch |
Midland, TX |
United States |
Miscellaneous Capital Goods |
125.1 |
40 |
|
|
Branch |
Chula Vista, CA |
United States |
Miscellaneous Capital Goods |
97.2 |
40 |
|
|
Branch |
Chesapeake, VA |
United States |
Miscellaneous Capital Goods |
73.6 |
40 |
|
|
Branch |
Baton Rouge, LA |
United States |
Business Services |
5.5 |
40 |
|
|
Branch |
Rancho Dominguez, CA |
United States |
Business Services |
5.5 |
34 |
|
|
Subsidiary |
Salem, VA |
United States |
Scientific and Technical Instruments |
0.7 |
30 |
|
|
Branch |
Tulsa, OK |
United States |
Miscellaneous Capital Goods |
13.9 |
29 |
|
|
Branch |
Olean, NY |
United States |
Miscellaneous Capital Goods |
7.5 |
22 |
|
|
Subsidiary |
Tribogna, Genova |
Italy |
Business Services |
9.0 |
23 |
|
|
Subsidiary |
Ciudad De Mexico, Distrito Federal |
Mexico |
Electronic Instruments and Controls |
|
4 |
|
|
Branch |
Villahermosa, Tabasco |
Mexico |
Electronic Instruments and Controls |
|
4 |
|
|
Subsidiary |
Cukai, Terengganu |
Malaysia |
Business Services |
|
3 |
|
|
Branch |
Seattle, WA |
United States |
Miscellaneous Capital Goods |
6.5 |
14 |
|
|
Branch |
Fairfield, OH |
United States |
Miscellaneous Capital Goods |
6.1 |
14 |
|
|
Branch |
Naperville, IL |
United States |
Business Services |
7.8 |
13 |
|
|
Branch |
Suffield, CT |
United States |
Miscellaneous Capital Goods |
4.3 |
12 |
|
|
Branch |
Atlantic Beach, FL |
United States |
Business Services |
0.9 |
7 |
|
|
Subsidiary |
Saint Rose, LA |
United States |
Miscellaneous Capital Goods |
12.4 |
6 |
|
|
Subsidiary |
Peterborough |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
UK Branch/Trading address |
Manchester |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Painted Post, NY |
United States |
Investment Services |
|
|
|
|
Subsidiary |
Louisiana, MO |
United States |
Miscellaneous Capital Goods |
|
|
Board of Directors
|
|
|
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|||
|
Chairman |
Chairman |
|
|||
|
||||||
|
Member of the Board |
Director/Board Member |
|
|||
Executives
|
|
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|||
|
General manager |
Administration Executive |
|||
|
Director |
Administration Executive |
|||
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General manager |
Administration Executive |
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Accounts manager |
Sales Executive |
|||
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Marketing director |
Marketing Executive |
|||
|
Purchase manager |
Purchasing Executive |
News
Articles
|
Dresser-Rand
Posts 2nd Quarter 2012 Results |
12-Aug-2012 |
|
Dresser-Rand
Reports 2nd Quarter 2012 Results |
08-Aug-2012 |
|
Dresser-Rand
Acquires Compressed Air Energy Storage Intellectual Property |
12-Jul-2012 |
|
Dresser-Rand
Buys Compressed Air Energy Storage Intellectual Property |
09-Jul-2012 |
|
Dresser-Rand
Rolls Out 2011 Corporate Sustainability Report |
30-Jun-2012 |
|
Dresser-Rand
Releases 2011 Corporate Sustainability Report |
29-Jun-2012 |
|
Germany :
Dresser-Rand to offer KG 2-3 G gas turbine to Max Bogl Group |
19-May-2012 |
|
Dresser-Rand
Releases Financial Results |
09-May-2012 |
|
Dresser-Rand
Sets Conference Call to Discuss 4Q 2011 Results |
29-Feb-2012 |
|
Dresser-Rand
Sets Date to Release Financial Results |
28-Feb-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 |
362.9 |
384.0 |
496.0 |
|
Net sales |
325.1 |
360.1 |
449.9 |
|
Change in stock |
2.5 |
4.7 |
-5.9 |
|
Unfinished work in progress |
4.8 |
-10.6 |
15.4 |
|
Subsidies for operating costs |
0.2 |
0.4 |
0.8 |
|
Supplementary operating income |
11.0 |
14.2 |
9.6 |
|
Other operating income |
21.7 |
19.9 |
20.4 |
|
Other external charges |
161.6 |
142.2 |
221.3 |
|
Cost of goods sold |
50.3 |
67.6 |
86.2 |
|
Taxes and social security costs |
6.1 |
6.0 |
6.6 |
|
Social charges |
26.9 |
24.6 |
27.0 |
|
Total payroll costs |
55.1 |
50.7 |
55.4 |
|
Cost of stock depreciation and amortisation |
9.3 |
8.0 |
8.5 |
|
Fixed asset depreciation and amortisation |
1.6 |
1.5 |
1.5 |
|
Other operating costs |
6.9 |
6.7 |
7.9 |
|
Total operating costs |
320.2 |
312.1 |
408.5 |
|
Net operating income |
42.7 |
72.0 |
87.5 |
|
Total financial income |
3.1 |
4.5 |
14.7 |
|
Interest payable on loans |
1.1 |
2.0 |
4.1 |
|
Other expenses |
0.4 |
2.3 |
2.1 |
|
Total expenses |
1.5 |
4.3 |
6.2 |
|
Profit before tax |
44.3 |
72.1 |
96.0 |
|
Extraordinary income |
0.2 |
0.3 |
0.1 |
|
Extraordinary expenses |
0.6 |
0.8 |
0.6 |
|
Extraordinary result |
-0.4 |
-0.5 |
-0.5 |
|
Total taxation |
12.8 |
21.8 |
29.2 |
|
Profit distributed to employees |
4.3 |
6.3 |
7.6 |
|
Net profit |
26.8 |
43.5 |
58.7 |
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 |
8.9 |
9.2 |
9.9 |
|
Legal reserves |
3.1 |
2.8 |
2.4 |
|
Total reserves |
1.3 |
1.3 |
1.4 |
|
Profits for the year |
25.0 |
44.1 |
60.6 |
|
Profit brought forward from previous year(s) |
74.3 |
62.2 |
34.8 |
|
Total stockholders equity |
112.6 |
119.6 |
109.1 |
|
Provisions and allowances |
16.5 |
18.1 |
27.8 |
|
Trade creditors |
37.8 |
38.8 |
54.8 |
|
Advances received |
85.6 |
68.2 |
92.5 |
|
Bank loans and overdrafts |
1.8 |
0.9 |
2.5 |
|
Current bank debts |
- |
0.9 |
- |
|
Other loans |
20.3 |
17.6 |
37.2 |
|
Other liabilities |
10.4 |
6.3 |
49.4 |
|
Debts on fixed assets |
1.0 |
0.8 |
1.7 |
|
Taxation and social security |
31.4 |
35.7 |
40.4 |
|
Total current liabilities |
- |
84.9 |
- |
|
Total debts |
188.3 |
168.3 |
278.4 |
|
Regularisation account |
0.8 |
0.4 |
0.2 |
|
Total liabilities (including net worth) |
318.2 |
306.4 |
415.5 |
|
Goodwill |
- |
- |
0.1 |
|
Other intangibles |
0.1 |
0.0 |
- |
|
Land |
0.8 |
0.8 |
0.9 |
|
Buildings |
0.7 |
0.8 |
0.8 |
|
Other fixed assets |
9.3 |
8.5 |
9.2 |
|
Other financial assets |
0.1 |
0.2 |
0.3 |
|
Total non-current assets |
10.9 |
10.4 |
11.3 |
|
Prepayments |
7.1 |
4.2 |
25.0 |
|
Net stocks and work in progress |
59.4 |
59.4 |
80.0 |
|
Trade debtors |
66.1 |
58.0 |
56.3 |
|
Other receivables |
164.3 |
130.0 |
197.8 |
|
Prepaid expenses |
1.0 |
1.1 |
2.0 |
|
Cash and liquid assets |
8.9 |
43.1 |
41.0 |
|
Total current assets |
306.9 |
295.8 |
402.0 |
|
Prepaid expenses and deferred costs |
0.4 |
0.2 |
2.2 |
|
Total assets |
318.2 |
306.4 |
415.5 |
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 |
- |
3.50 |
- |
|
Quick ratio |
- |
2.80 |
- |
|
Total liabilities to net worth |
1.68% |
1.41% |
2.61% |
|
Net worth to total assets |
0.35% |
0.39% |
0.26% |
|
Collection period |
66.10 |
48.30 |
36.80 |
|
Stock turnover rate |
5.10 |
6.10 |
5.80 |
|
Asset turnover |
0.95% |
1.19% |
1.12% |
|
Profit margin |
0.14% |
0.20% |
0.21% |
|
Return on assets |
0.13% |
0.24% |
0.24% |
|
Shareholders' return |
0.37% |
0.61% |
0.93% |
|
Sales per employee |
2,269.00 |
2,540.93 |
2,997.45 |
|
Profit per employee |
308.88 |
508.89 |
639.66 |
|
Average wage per employee |
384.61 |
357.90 |
368.90 |
|
Net worth |
112.6 |
119.6 |
109.1 |
|
Number of employees |
676 |
702 |
708 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.71.88 |
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.