MIRA
INFORM REPORT
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Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
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Name : |
EUROCONTACT |
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Registered Office : |
48 Rue Du Mont St Adrien Residence Wacogne Boulogne Sur Mer, 62200 |
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Country : |
France |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
15.08.1989 |
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Com. Reg. No.: |
950391235 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is engaged in non-specialised wholesale of food, beverages and
tobacco. |
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No. of Employees : |
9 |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
France |
A1 |
A1 |
|
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 |
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 and address
EUROCONTACT
|
48 Rue Du Mont St Adrien Residence Wacogne Boulogne Sur Mer, 62200 France
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Business Description
Eurocontact is primarily engaged in non-specialised
wholesale of food, beverages and tobacco.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
5139 -
Non-specialised wholesale of food, beverages and tobacco |
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NAICS 2002: |
424490 -
Other Grocery and Related Products Merchant Wholesalers |
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UK SIC 2003: |
5139 -
Non-specialised wholesale of food, beverages and tobacco |
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UK SIC 2007: |
4639 -
Non-specialised wholesale of food, beverages and tobacco |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
Didier Mannessiez |
President |
Registered No.(FRA): 950391235
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7534632
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ANZSIC 2006 Codes: |
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3609 |
- |
Other Grocery Wholesaling |
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NACE 2002 Codes: |
||
|
5139 |
- |
Non-specialised wholesale of food, beverages and tobacco |
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NAICS 2002 Codes: |
||
|
424490 |
- |
Other Grocery and Related Products Merchant Wholesalers |
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US SIC 1987: |
||
|
5142 |
- |
Packaged Frozen Foods |
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UK SIC 2003: |
||
|
5139 |
- |
Non-specialised wholesale of food, beverages and tobacco |
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UK SIC 2007: |
||
|
4639 |
- |
Non-specialised wholesale of food, beverages and tobacco |
Eurocontact is primarily engaged in non-specialised
wholesale of food, beverages and tobacco.
|
|
|
Bank: |
Lcl Le Credit Lyonnais, Hsbc, Banque Populaire Du Nord |
Corporate
Family
Corporate Structure News
Total Corporate Family Members: 2
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Groningen, Groningen |
Netherlands |
Miscellaneous Financial Services |
|
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Subsidiary |
Boulogne Sur Mer |
France |
Food Processing |
38.2 |
9 |
Executives
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President |
President |
Annual Profit & Loss
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.726943 |
0.757168 |
0.70861 |
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Consolidated |
No |
No |
No |
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Total income |
38.2 |
33.8 |
33.2 |
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Net sales |
38.2 |
33.7 |
33.2 |
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Change in stock |
-0.6 |
-0.6 |
0.0 |
|
Subsidies for operating costs |
0.0 |
0.0 |
0.0 |
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Supplementary operating income |
0.0 |
0.1 |
0.0 |
|
Other operating income |
0.0 |
0.0 |
0.0 |
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Other external charges |
1.4 |
1.3 |
1.3 |
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Cost of goods sold |
34.9 |
31.2 |
29.7 |
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Taxes and social security costs |
0.1 |
0.1 |
0.1 |
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Social charges |
0.3 |
0.3 |
0.3 |
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Total payroll costs |
0.6 |
0.6 |
0.6 |
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Cost of stock depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.0 |
0.0 |
0.0 |
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Total operating costs |
36.8 |
32.9 |
32.0 |
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Net operating income |
1.4 |
0.9 |
1.2 |
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Total financial income |
0.1 |
0.2 |
0.1 |
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Interest payable on loans |
0.0 |
0.0 |
0.0 |
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Other expenses |
0.0 |
0.1 |
0.0 |
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Total expenses |
0.0 |
0.1 |
0.0 |
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Profit before tax |
1.5 |
1.0 |
1.3 |
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Extraordinary income |
0.1 |
0.0 |
0.0 |
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Extraordinary expenses |
0.0 |
0.0 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.5 |
0.3 |
0.4 |
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Net profit |
1.0 |
0.6 |
0.9 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
No |
No |
No |
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Issued capital |
0.1 |
0.1 |
0.1 |
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Total reserves |
9.7 |
9.7 |
8.4 |
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Profits for the year |
1.0 |
0.7 |
0.8 |
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Total stockholders equity |
10.7 |
10.4 |
9.3 |
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Provisions and allowances |
0.0 |
0.0 |
0.0 |
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Trade creditors |
1.3 |
1.4 |
1.7 |
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Other loans |
0.0 |
- |
0.0 |
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Other liabilities |
0.1 |
0.2 |
0.1 |
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Taxation and social security |
0.6 |
0.4 |
0.4 |
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Total current liabilities |
2.0 |
2.0 |
2.2 |
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Total debts |
2.0 |
2.0 |
2.2 |
|
Regularisation account |
0.0 |
0.0 |
0.0 |
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Total liabilities (including net worth) |
12.7 |
12.5 |
11.5 |
|
Patents |
0.0 |
- |
- |
|
Buildings |
0.0 |
0.0 |
0.0 |
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Other fixed assets |
0.0 |
0.0 |
0.0 |
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Long-term investments |
0.6 |
0.7 |
0.6 |
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Other financial assets |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
0.7 |
0.7 |
0.7 |
|
Net stocks and work in progress |
3.8 |
3.4 |
2.6 |
|
Trade debtors |
4.3 |
5.1 |
4.2 |
|
Other receivables |
1.0 |
0.6 |
0.4 |
|
Prepaid expenses |
0.0 |
0.0 |
0.0 |
|
Cash and liquid assets |
1.9 |
1.1 |
3.5 |
|
Marketable securities |
1.1 |
1.4 |
- |
|
Total current assets |
12.0 |
11.7 |
10.8 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
|
Total assets |
12.7 |
12.5 |
11.5 |
Annual
Ratios
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
6.10 |
5.80 |
4.90 |
|
Quick ratio |
4.20 |
4.10 |
3.70 |
|
Total liabilities to net worth |
0.19% |
0.20% |
0.24% |
|
Net worth to total assets |
0.84% |
0.83% |
0.81% |
|
Collection period |
35.70 |
42.90 |
40.00 |
|
Stock turnover rate |
9.80 |
10.70 |
12.20 |
|
Asset turnover |
2.91% |
2.90% |
2.77% |
|
Profit margin |
0.04% |
0.03% |
0.04% |
|
Return on assets |
0.11% |
0.08% |
0.11% |
|
Shareholders' return |
0.14% |
0.10% |
0.13% |
|
Sales per employee |
- |
18,587.67 |
19,280.24 |
|
Profit per employee |
- |
531.47 |
740.68 |
|
Average wage per employee |
- |
320.54 |
361.89 |
|
Net worth |
10.7 |
10.4 |
9.3 |
|
Number of employees |
- |
9 |
8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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 |
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---- |
NB |
New Business |
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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.