MIRA INFORM REPORT
|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SNETOR CHIMIE
|
|
|
|
|
Registered Office : |
11, Avenue Dubonnet, Courbevoie, 92400 |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.01.1997 |
|
|
|
|
Com. Reg. No.: |
411096290 |
|
|
|
|
Legal Form : |
Private Subsidiary Company |
|
|
|
|
Line of Business : |
wholesaler
of industrial chemicals |
|
|
|
|
No. of Employees : |
27 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
France |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
Snetor Chimie
11, Avenue Dubonnet
Courbevoie, 92400
France
Tel: +33 01 49 04 88 88
Fax: +33 01 49 04 88 99
Synthesis
Employees: 27
Company Type: Private
Subsidiary
Corporate Family: 2
Companies
Ultimate Parent: Snetor
Incorporation Date: 15-Jan-1997
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 683.3
Total Assets: 184.8
Business Description
Snetor Chimie is primarily engaged in wholesale of industrial chemicals (aniline, printing ink, essential oils, industrial gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids and sulphur, starch derivatives, etc.); wholesale of fertilisers and agro-chemical products; wholesale of plastic materials in primary forms; and wholesale of rubber.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 3323 - Industrial
and Agricultural Chemical Product Wholesaling
NACE 2002: 5155 - Wholesale
of chemical products
NAICS 2002: 4246 - Chemical
and Allied Products Merchant Wholesalers
UK SIC 2003: 5155 - Wholesale
of chemical products
UK SIC 2007: 4675 - Wholesale
of chemical products
US SIC 1987: 5169 - Chemicals
and Allied Products, Not Elsewhere Classified
Key Executives
Name Title
Emmanuel Aubourg President
Serge Gaston Director
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
11, Avenue Dubonnet
Courbevoie, 92400
France
Tel: +33 01 49 04 88 88
Fax: +33 01 49 04 88 99
Sales EUR(mil): 491.5
Assets EUR(mil): 142.3
Employees: 27
Fiscal Year End: 31-Dec-2011
Industry: Chemical
Manufacturing
Incorporation Date: 15-Jan-1997
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(FRA): 411096290
President: Emmanuel
Aubourg
Industry Codes
ANZSIC 2006 Codes:
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
NAICS 2002 Codes:
4246 - Chemical and Allied Products Merchant Wholesalers
US SIC 1987:
5169 - Chemicals and Allied Products, Not Elsewhere Classified
UK SIC 2003:
5155 - Wholesale of chemical products
UK SIC 2007:
4675 - Wholesale of chemical products
Business
Description
Snetor Chimie is primarily
engaged in wholesale of industrial chemicals (aniline, printing ink, essential
oils, industrial gases, chemical glues, colouring matter, synthetic resin,
methanol, paraffin, scents and flavourings, soda, industrial salt, acids and
sulphur, starch derivatives, etc.); wholesale of fertilisers and agro-chemical
products; wholesale of plastic materials in primary forms; and wholesale of
rubber.
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate
Structure News: |
|
|
Snetor |
|
Snetor Chimie |
|
|
|
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Snetor |
Parent |
Courbevoie |
France |
Construction and Agriculture Machinery |
|
7 |
|
|
Snetor Chimie |
Subsidiary |
Courbevoie |
France |
Chemical Manufacturing |
683.3 |
20 |
|
Executive report
|
Executives |
|
|
|
|
|||
|
President |
President |
|
|||
|
Director |
Administration Executive |
|
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 |
685.5 |
537.6 |
391.8 |
|
Net sales |
683.3 |
537.2 |
391.3 |
|
Change in stock |
6.1 |
-0.4 |
-5.0 |
|
Supplementary operating income |
2.2 |
0.4 |
0.5 |
|
Other operating income |
0.0 |
0.0 |
0.0 |
|
Other external charges |
7.7 |
7.1 |
5.9 |
|
Cost of goods sold |
649.3 |
511.4 |
372.0 |
|
Taxes and social security costs |
0.5 |
0.4 |
0.4 |
|
Social charges |
1.3 |
1.1 |
1.0 |
|
Total payroll costs |
2.9 |
2.3 |
2.2 |
|
Cost of stock depreciation and amortisation |
0.2 |
0.5 |
0.2 |
|
Fixed asset depreciation and amortisation |
- |
- |
0.0 |
|
Other operating costs |
1.4 |
0.2 |
0.2 |
|
Total operating costs |
669.3 |
522.5 |
376.8 |
|
Net operating income |
16.2 |
15.1 |
15.0 |
|
Total financial income |
0.3 |
0.1 |
0.4 |
|
Interest payable on loans |
0.3 |
0.0 |
0.0 |
|
Other expenses |
0.1 |
0.0 |
0.0 |
|
Total expenses |
0.4 |
0.1 |
0.0 |
|
Profit before tax |
16.2 |
15.2 |
15.3 |
|
Extraordinary income |
0.0 |
0.3 |
0.0 |
|
Extraordinary expenses |
0.0 |
0.0 |
0.0 |
|
Extraordinary result |
0.0 |
0.3 |
0.0 |
|
Total taxation |
5.8 |
5.3 |
5.2 |
|
Net profit |
10.4 |
10.2 |
10.1 |
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 |
10.5 |
10.8 |
2.9 |
|
Total reserves |
7.5 |
4.4 |
10.7 |
|
Profits for the year |
9.7 |
10.3 |
10.4 |
|
Total stockholders equity |
27.6 |
25.5 |
24.0 |
|
Trade creditors |
139.0 |
120.6 |
100.9 |
|
Bank loans and overdrafts |
5.2 |
0.0 |
0.2 |
|
Current bank debts |
5.2 |
0.0 |
0.2 |
|
Other loans |
10.6 |
0.4 |
0.9 |
|
Other liabilities |
0.3 |
0.2 |
0.2 |
|
Taxation and social security |
2.0 |
1.9 |
1.8 |
|
Total current liabilities |
157.1 |
123.0 |
103.9 |
|
Total debts |
157.1 |
123.0 |
103.9 |
|
Regularisation account |
- |
0.5 |
0.6 |
|
Total liabilities (including net worth) |
184.8 |
149.0 |
128.5 |
|
Goodwill |
1.2 |
1.2 |
1.3 |
|
Total non-current assets |
1.2 |
1.2 |
1.3 |
|
Net stocks and work in progress |
0.8 |
6.8 |
6.7 |
|
Trade debtors |
173.2 |
128.1 |
99.8 |
|
Other receivables |
0.6 |
2.1 |
0.6 |
|
Prepaid expenses |
0.0 |
0.0 |
0.0 |
|
Cash and liquid assets |
7.0 |
3.4 |
3.1 |
|
Marketable securities |
0.2 |
7.4 |
17.0 |
|
Total current assets |
181.8 |
147.7 |
127.2 |
|
Prepaid expenses and deferred costs |
1.7 |
- |
- |
|
Total assets |
184.8 |
149.0 |
128.5 |
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 |
1.20 |
1.20 |
1.20 |
|
Quick ratio |
1.20 |
1.10 |
1.20 |
|
Total liabilities to net worth |
6.36% |
5.06% |
4.57% |
|
Net worth to total assets |
0.13% |
0.16% |
0.18% |
|
Collection period |
82.40 |
71.40 |
75.00 |
|
Stock turnover rate |
770.60 |
80.60 |
59.90 |
|
Asset turnover |
3.45% |
3.65% |
3.14% |
|
Profit margin |
0.02% |
0.03% |
0.04% |
|
Return on assets |
0.08% |
0.10% |
0.12% |
|
Shareholders' return |
0.61% |
0.63% |
0.70% |
|
Sales per employee |
119,396.89 |
115,682.01 |
92,275.35 |
|
Profit per employee |
2,833.70 |
3,268.43 |
3,616.42 |
|
Average wage per employee |
503.46 |
498.85 |
517.03 |
|
Net worth |
27.6 |
25.5 |
24.0 |
|
Number of employees |
27 |
23 |
20 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
UK Pound |
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
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.