MIRA INFORM REPORT
|
Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FASHION B AIR SA |
|
|
|
|
Registered Office : |
210 rue de Saint Denis Paris, 75002 |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
18.07.1990 |
|
|
|
|
Com. Reg. No.: |
378728885 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
Design and Marketing of ready-to-wear women's clothing and
accessories like shoes and bags. |
|
|
|
|
No. of Employees : |
118 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 |
|
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 4.8% of GDP in 2012, while France's public debt rose from 68% of
GDP to 90% 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
FASHION B AIR SA
|
210 rue de Saint Denis Paris, 75002 France
|
|
|
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Business Description
Fashion B Air SA is a France-based company specialized in the
design and marketing of ready-to-wear women's clothing and accessories like
shoes and bags. It operates boutiques in Paris, in St Germain en Laye, Bordeaux
and Lille, and sells its products also in shopping malls in France, such as
Galeries Lafayette and Printemps Haussmann. In addition, the Company's offer is
available via its Website, www.belair-paris.fr. Fashion B Air SA also operates
through subsidiaries, including Vertigo, which reported no activities and Les
Florentines, which operates through the brand 40 CARATS and which is engaged in
the correspondence sale of jewels, textiles and phytotherapy products, such as
capillary products, food supplements, anti-fatigue products, and engaged in the
distribution of fine and costume jewelry. For the fiscal year ended 31 December
2010, Fashion B Air SA revenues increased 26% to EUR19.5M. Net income decreased
53% to EUR579K. Revenues reflect Merchandises Sales DETAIL segment increase of
67% to EUR10.6M, Sales/INTERNET segment increase from EUR60K to EUR663K, France
segment increase of 33% to EUR17.5M. Net income was offset by Exceptional
Expenses / Capital increase from EUR204K to EUR3M (expense).
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
ISIC Rev 4: |
4771 - Retail
sale of clothing, footwear and leather articles in specialized stores |
|
NACE Rev 2: |
|
|
NAICS 2012: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
Key Executives
|
Name |
Title |
|
Chairman of the Board, Chief Executive Officer |
|
|
Franck Sitruk |
Director |
|
Director |
|
|
Messaouda Liliane Sitruk |
Director |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
1 |
Fashion B
Air SA Announces Project of 50% Acquisition of Multiples Company |
14-Jan-2013 |
|
|
1 |
14-May-2013 |
||
|
1 |
20-Mar-2013 |
||
|
1 |
31-Oct-2012 |
||
|
1 |
Fashion B
Air SA Proposes Share Repurchase Program; Proposes no FY 2012/2013 Dividend |
23-Aug-2013 |
* number of significant
developments within the last 12 months
News
|
Title |
Date |
|
DIARY - Western European Corporate
events from SEP 27 |
27-Sep-2013 |
|
DIARY - Western European Corporate
events from SEP 26 |
26-Sep-2013 |
|
DIARY - Western European Corporate events
from SEP 25 |
25-Sep-2013 |
|
DIARY - Western European Corporate
events from SEP 24 |
24-Sep-2013 |
|
DIARY - Western European Corporate
events from SEP 23 |
23-Sep-2013 |
|
DIARY - Western European Corporate
events from SEP 20 |
20-Sep-2013 |
Financial Summary
|
As of 31-Dec-2010 |
|||||||||||||||||||||
|
Stock Snapshot
|
Traded: Euronext Paris: ALFBA |
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|
As of 13-Sep-2013 Financials in: EUR |
|||||||||||||||||||||||||
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|||||||||||||||||||||||||
|
Registered No.(FRA): 378728885
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: |
||
|
4251 |
- |
Clothing Retailing |
|
1320 |
- |
Leather Tanning, Fur Dressing and Leather Product
Manufacturing |
|
1352 |
- |
Footwear Manufacturing |
|
6999 |
- |
Other Professional, Scientific and Technical Services Not
Elsewhere Classified |
|
ISIC Rev 4 Codes: |
||
|
4771 |
- |
Retail sale of clothing, footwear and leather articles in
specialized stores |
|
8299 |
- |
Other business support service activities n.e.c. |
|
1512 |
- |
Manufacture of luggage, handbags and the like, saddlery
and harness |
|
1520 |
- |
Manufacture of footwear |
|
NACE Rev 2 Codes: |
||
|
4771 |
- |
Retail sale of clothing in specialised stores |
|
1512 |
- |
Manufacture of luggage, handbags and the like, saddlery
and harness |
|
1520 |
- |
Manufacture of footwear |
|
8299 |
- |
Other business support service activities n.e.c. |
|
NAICS 2012 Codes: |
||
|
44812 |
- |
Women's Clothing Stores |
|
316992 |
- |
Women's Handbag and Purse Manufacturing |
|
561990 |
- |
All Other Support Services |
|
448150 |
- |
Clothing Accessories Stores |
|
316210 |
- |
Footwear Manufacturing |
|
US SIC 1987: |
||
|
5621 |
- |
Women's Clothing Stores |
|
3144 |
- |
Women's Footwear, Except Athletic |
|
5632 |
- |
Women's Accessory and Specialty Stores |
|
3171 |
- |
Women's Handbags and Purses |
|
7389 |
- |
Business Services, Not Elsewhere Classified |
|
UK SIC 2007: |
||
|
4771 |
- |
Retail sale of clothing in specialised stores |
|
1520 |
- |
Manufacture of footwear |
|
8299 |
- |
Other business support service activities n.e.c. |
|
1512 |
- |
Manufacture of luggage, handbags and the like, saddlery
and harness |
Fashion B Air SA is a
France-based company specialized in the design and marketing of ready-to-wear
women's clothing and accessories like shoes and bags. It operates boutiques in
Paris, in St Germain en Laye, Bordeaux and Lille, and sells its products also
in shopping malls in France, such as Galeries Lafayette and Printemps
Haussmann. In addition, the Company's offer is available via its Website,
www.belair-paris.fr. Fashion B Air SA also operates through subsidiaries,
including Vertigo, which reported no activities and Les Florentines, which
operates through the brand 40 CARATS and which is engaged in the correspondence
sale of jewels, textiles and phytotherapy products, such as capillary products,
food supplements, anti-fatigue products, and engaged in the distribution of
fine and costume jewelry. For the fiscal year ended 31 December 2010, Fashion B
Air SA revenues increased 26% to EUR19.5M. Net income decreased 53% to EUR579K.
Revenues reflect Merchandises Sales DETAIL segment increase of 67% to EUR10.6M,
Sales/INTERNET segment increase from EUR60K to EUR663K, France segment increase
of 33% to EUR17.5M. Net income was offset by Exceptional Expenses / Capital
increase from EUR204K to EUR3M (expense).
More Business Descriptions
Women's Clothing Retailer
Fashion B. Air is
primarily engaged in manufacture of other men’s outerwear; and manufacture of
other women’s outerwear.
Women's Clothing Stores
|
|
|
Quote Symbol: |
ALFBA |
|
Exchange: |
Euronext Paris |
|
Currency: |
EUR |
|
Stock Price: |
2.2 |
|
Stock Price Date: |
09-13-2013 |
|
52 Week Price Change %: |
28.2 |
|
Market Value (mil): |
21,111.7 |
|
|
|
|
SEDOL: |
7370085 |
|
ISIN: |
FR0004034593 |
|
|
|
|
Equity and Dept Distribution: |
|
|
05/2009, Scrip Issue, 1 new share for every 4 shares held.
06/2009, Stock Dividend, 0.069444 new shares for every 1 share held. 05/2010,
Scrip Issue, 1 new share for every 5 shares held. 06/2010, Stock Dividend,
0.060606 new shares for every 1 shares held. 07/2012, Rights Issue, 1 new
share for every 5 shares held @ EUR1.25 (Factor: 1.06047). |
|
|
Auditor: |
Fiduco |
|
|
|
|
Auditor: |
Fiduco |
Executives Report
Board of Directors
|
|
|
||||
|
Chairman of the Board, Chief Executive Officer |
Chairman |
||||
|
||||||
|
Director |
Director/Board Member |
|
|||
|
||||||
|
Director |
Director/Board Member |
|
|||
|
||||||
|
Director |
Director/Board Member |
|
|||
|
||||||
Executives
|
|
|
|||
|
Chairman of the Board, Chief Executive Officer |
Chief Executive Officer |
|||
|
|||||
|
Fashion B Air SA Proposes Share Repurchase Program; Proposes no FY 2012/2013 Dividend Aug 23, 2013
|
|
Fashion B Air SA Announces Restructuring Plan May 14, 2013
|
|
Fashion B Air SA Sign Partnership With ASOS PLC Mar 20, 2013
|
|
Fashion B Air SA Announces Project of 50% Acquisition of Multiples Company Jan 14, 2013
|
|
Fashion B Air SA Opens New Store So Ouest Oct 31, 2012
|
News
|
DIARY - Western
European Corporate events from SEP 27 |
27-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 26 |
26-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 25 |
25-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 24 |
24-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 23 |
23-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 20 |
20-Sep-2013 |
|
DIARY - Western
European Corporate events from SEP 18 |
18-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 17 |
17-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 16 |
16-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 13 |
13-Sep-2013 |
|
DIARY -
Western European Corporate events from SEP 12 |
12-Sep-2013 |
Annual
Profit & Loss
|
|
31-Mar-2012 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
15 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.726943 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
34.7 |
25.8 |
21.5 |
|
Net sales |
34.3 |
25.7 |
21.5 |
|
Change in stock |
-2.5 |
-2.9 |
-4.8 |
|
Supplementary operating income |
0.2 |
0.1 |
0.0 |
|
Other operating income |
0.1 |
0.0 |
0.0 |
|
Other external charges |
8.9 |
5.4 |
5.0 |
|
Cost of goods sold |
18.7 |
12.7 |
12.7 |
|
Taxes and social security costs |
0.6 |
0.5 |
0.4 |
|
Social charges |
2.3 |
1.6 |
1.4 |
|
Total payroll costs |
6.1 |
4.3 |
3.7 |
|
Cost of stock depreciation and amortisation |
0.6 |
0.3 |
0.3 |
|
Fixed asset depreciation and amortisation |
0.8 |
0.5 |
0.5 |
|
Other operating costs |
0.1 |
0.1 |
0.0 |
|
Total operating costs |
35.6 |
22.6 |
19.1 |
|
Net operating income |
-0.9 |
3.2 |
2.4 |
|
Total financial income |
0.6 |
0.2 |
0.5 |
|
Interest payable on loans |
0.7 |
0.5 |
0.4 |
|
Other expenses |
1.2 |
0.1 |
0.2 |
|
Total expenses |
1.9 |
0.6 |
0.6 |
|
Profit before tax |
-2.2 |
2.9 |
2.3 |
|
Extraordinary income |
1.6 |
2.6 |
0.5 |
|
Extraordinary expenses |
1.3 |
3.9 |
0.6 |
|
Extraordinary result |
0.3 |
-1.3 |
-0.1 |
|
Total taxation |
-0.3 |
0.8 |
0.5 |
|
Net profit |
- |
0.8 |
1.7 |
|
Net loss |
1.6 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
2.0 |
1.8 |
1.4 |
|
Share premium account |
22.7 |
18.4 |
14.9 |
|
Total reserves |
1.1 |
1.1 |
1.5 |
|
Profits for the year |
-1.5 |
0.8 |
1.8 |
|
Profit brought forward from previous year(s) |
8.8 |
10.1 |
10.9 |
|
Total stockholders equity |
33.1 |
32.2 |
30.5 |
|
Provisions and allowances |
0.3 |
0.2 |
0.1 |
|
Trade creditors |
2.8 |
3.3 |
2.3 |
|
Advances received |
- |
0.0 |
0.0 |
|
Bank loans and overdrafts |
4.9 |
7.6 |
8.6 |
|
Current bank debts |
0.3 |
2.2 |
2.0 |
|
Debenture loans |
8.5 |
10.7 |
- |
|
Other loans |
3.9 |
3.9 |
2.3 |
|
Other liabilities |
0.3 |
0.0 |
0.4 |
|
Taxation and social security |
1.4 |
2.1 |
2.3 |
|
Total current liabilities |
11.5 |
14.5 |
10.8 |
|
Total debts |
21.7 |
27.6 |
15.9 |
|
Total liabilities (including net worth) |
55.1 |
60.1 |
46.5 |
|
Patents |
0.0 |
0.0 |
0.1 |
|
Goodwill |
14.4 |
14.7 |
14.6 |
|
Other intangibles |
0.0 |
0.1 |
0.2 |
|
Buildings |
0.2 |
0.2 |
0.3 |
|
Other fixed assets |
1.8 |
1.9 |
1.8 |
|
Long-term investments |
9.9 |
8.2 |
7.1 |
|
Other financial assets |
1.0 |
1.2 |
1.1 |
|
Total non-current assets |
27.4 |
26.3 |
25.1 |
|
Prepayments |
0.2 |
0.2 |
0.0 |
|
Net stocks and work in progress |
12.2 |
10.2 |
7.8 |
|
Trade debtors |
3.9 |
3.0 |
2.6 |
|
Other receivables |
2.8 |
1.9 |
2.4 |
|
Prepaid expenses |
0.1 |
0.2 |
0.3 |
|
Cash and liquid assets |
1.0 |
6.8 |
2.0 |
|
Marketable securities |
7.3 |
11.1 |
6.1 |
|
Total current assets |
27.5 |
33.4 |
21.4 |
|
Prepaid expenses and deferred costs |
0.2 |
0.3 |
0.0 |
|
Total assets |
55.1 |
60.1 |
46.5 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
15 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
2.40 |
2.30 |
2.00 |
|
Quick ratio |
1.30 |
1.60 |
1.30 |
|
Total liabilities to net worth |
1.18% |
1.62% |
1.02% |
|
Net worth to total assets |
0.33% |
0.28% |
0.34% |
|
Collection period |
35.90 |
34.90 |
35.00 |
|
Stock turnover rate |
2.70 |
2.50 |
2.80 |
|
Asset turnover |
0.60% |
0.43% |
0.48% |
|
Profit margin |
-0.06% |
0.11% |
0.11% |
|
Return on assets |
-0.04% |
0.05% |
0.05% |
|
Shareholders' return |
-0.12% |
0.17% |
0.15% |
|
Sales per employee |
1,386.46 |
1,080.79 |
844.91 |
|
Profit per employee |
-88.52 |
122.96 |
90.84 |
|
Average wage per employee |
246.24 |
179.13 |
145.15 |
|
Net worth |
33.1 |
32.2 |
30.5 |
|
Number of employees |
118 |
118 |
120 |
Annual
Income Statement
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
||||||
|
|
31-Mar-2012 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
|
Period Length |
15 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
|
UpdateType/Date |
Updated Special |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
|
Exchange Rate (Period
Average) |
0.726943 |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
|
|
Auditor |
|
Fiduco |
Fiduco |
Fiduco |
Fiduco |
|
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
|
Net Sales |
- |
25.7 |
21.5 |
19.3 |
16.4 |
|
|
Revenue |
- |
25.7 |
21.5 |
19.3 |
16.4 |
|
|
Other Revenue |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
Other Revenue, Total |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
Total Revenue |
- |
25.8 |
21.5 |
19.3 |
16.4 |
|
|
|
|
|
|
|
|
|
|
Cost of Revenue |
- |
9.8 |
7.9 |
9.0 |
10.0 |
|
|
Cost of Revenue, Total |
- |
9.8 |
7.9 |
9.0 |
10.0 |
|
|
Gross Profit |
- |
15.9 |
13.6 |
10.3 |
6.4 |
|
|
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
- |
5.9 |
5.4 |
3.7 |
2.4 |
|
|
Labor & Related Expense |
- |
5.9 |
5.1 |
2.5 |
1.0 |
|
|
Total Selling/General/Administrative Expenses |
- |
11.8 |
10.4 |
6.2 |
3.4 |
|
|
Depreciation |
- |
0.4 |
0.4 |
0.1 |
0.0 |
|
|
Amortization of Intangibles |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
|
Depreciation/Amortization |
- |
0.5 |
0.5 |
0.2 |
0.0 |
|
|
Litigation |
- |
- |
- |
0.0 |
0.0 |
|
|
Impairment-Assets Held for Use |
- |
0.2 |
0.2 |
0.0 |
0.0 |
|
|
Other Unusual Expense (Income) |
- |
1.3 |
0.1 |
-5.9 |
-0.1 |
|
|
Unusual Expense (Income) |
- |
1.5 |
0.3 |
-5.9 |
-0.1 |
|
|
Other Operating Expense |
- |
0.1 |
0.0 |
0.0 |
0.4 |
|
|
Other, Net |
- |
0.1 |
0.0 |
0.0 |
-0.3 |
|
|
Other Operating Expenses, Total |
- |
0.2 |
0.1 |
0.0 |
0.0 |
|
|
Total Operating Expense |
- |
23.9 |
19.2 |
9.5 |
13.3 |
|
|
|
|
|
|
|
|
|
|
Operating Income |
- |
1.9 |
2.3 |
9.8 |
3.1 |
|
|
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
- |
-0.5 |
-0.4 |
-0.4 |
-0.2 |
|
|
Interest Expense, Net
Non-Operating |
- |
-0.5 |
-0.4 |
-0.4 |
-0.2 |
|
|
Interest
Income - Non-Operating |
- |
0.0 |
0.0 |
0.2 |
0.0 |
|
|
Investment
Income - Non-Operating |
- |
0.0 |
0.0 |
0.1 |
0.1 |
|
|
Interest/Investment Income -
Non-Operating |
- |
0.0 |
0.1 |
0.3 |
0.1 |
|
|
Interest Income (Expense) - Net Non-Operating Total |
- |
-0.4 |
-0.3 |
-0.1 |
-0.1 |
|
|
Gain (Loss) on Sale of Assets |
- |
0.1 |
0.2 |
0.0 |
0.0 |
|
|
Other Non-Operating Income
(Expense) |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
|
Other, Net |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
|
Income Before Tax |
- |
1.6 |
2.2 |
9.6 |
3.1 |
|
|
|
|
|
|
|
|
|
|
Total Income Tax |
- |
0.8 |
0.5 |
0.9 |
1.0 |
|
|
Income After Tax |
- |
0.8 |
1.7 |
8.7 |
2.1 |
|
|
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
- |
0.8 |
1.7 |
8.7 |
2.1 |
|
|
Net Income |
- |
0.8 |
1.7 |
8.7 |
2.1 |
|
|
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
- |
0.8 |
1.7 |
8.7 |
2.1 |
|
|
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
- |
0.8 |
1.7 |
8.7 |
2.1 |
|
|
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
- |
7.7 |
7.2 |
6.8 |
6.8 |
|
|
Basic EPS Excl Extraord Items |
- |
0.10 |
0.24 |
1.28 |
0.31 |
|
|
Basic/Primary EPS Incl Extraord Items |
- |
0.10 |
0.24 |
1.28 |
0.31 |
|
|
Diluted Net Income |
- |
0.8 |
1.7 |
8.7 |
2.1 |
|
|
Diluted Weighted Average Shares |
- |
7.7 |
7.2 |
6.8 |
6.8 |
|
|
Diluted EPS Excl Extraord Items |
- |
0.10 |
0.24 |
1.27 |
0.31 |
|
|
Diluted EPS Incl Extraord Items |
- |
0.10 |
0.24 |
1.27 |
0.31 |
|
|
Dividends per Share - Common Stock Primary Issue |
- |
0.25 |
0.21 |
0.22 |
0.00 |
|
|
Gross Dividends - Common Stock |
- |
1.9 |
1.8 |
1.4 |
0.0 |
|
|
Interest Expense, Supplemental |
- |
0.5 |
0.4 |
0.4 |
0.2 |
|
|
Depreciation, Supplemental |
- |
0.4 |
0.6 |
0.1 |
0.0 |
|
|
Total Special Items |
- |
1.4 |
0.1 |
-5.9 |
-0.1 |
|
|
Normalized Income Before Tax |
- |
3.0 |
2.3 |
3.7 |
3.0 |
|
|
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
0.7 |
0.0 |
-0.6 |
0.0 |
|
|
Inc Tax Ex Impact of Sp Items |
- |
1.5 |
0.5 |
0.4 |
1.0 |
|
|
Normalized Income After Tax |
- |
1.4 |
1.7 |
3.3 |
2.0 |
|
|
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
- |
1.4 |
1.7 |
3.3 |
2.0 |
|
|
|
|
|
|
|
|
|
|
Basic Normalized EPS |
- |
0.18 |
0.24 |
0.49 |
0.30 |
|
|
Diluted Normalized EPS |
- |
0.18 |
0.24 |
0.49 |
0.30 |
|
|
Amort of Intangibles, Supplemental |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
|
Rental Expenses |
- |
2.4 |
2.2 |
1.2 |
0.3 |
|
|
Advertising Expense, Supplemental |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
Research & Development Exp, Supplemental |
- |
0.2 |
0.7 |
1.0 |
0.8 |
|
|
Normalized EBIT |
- |
3.4 |
2.6 |
3.8 |
3.0 |
|
|
Normalized EBITDA |
- |
4.0 |
3.3 |
4.1 |
3.1 |
|
|
Current Tax - Total |
- |
1.1 |
0.8 |
1.2 |
1.0 |
|
|
Current Tax - Total |
- |
1.1 |
0.8 |
1.2 |
1.0 |
|
|
Other Tax |
- |
-0.2 |
-0.3 |
-0.3 |
0.0 |
|
|
Income Tax - Total |
- |
0.8 |
0.5 |
0.9 |
1.0 |
|
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Special |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
|
Auditor |
|
Fiduco |
Fiduco |
Fiduco |
Fiduco |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
- |
6.8 |
2.0 |
2.0 |
2.9 |
|
Short Term Investments |
- |
11.1 |
6.1 |
6.6 |
1.3 |
|
Cash and Short Term Investments |
- |
17.9 |
8.2 |
8.6 |
4.2 |
|
Accounts
Receivable - Trade, Gross |
- |
3.1 |
2.6 |
1.7 |
3.5 |
|
Provision
for Doubtful Accounts |
- |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Trade Accounts Receivable - Net |
- |
3.0 |
2.6 |
1.7 |
3.4 |
|
Other Receivables |
- |
1.5 |
2.2 |
1.9 |
1.3 |
|
Total Receivables, Net |
- |
4.5 |
4.7 |
3.6 |
4.7 |
|
Inventories - Finished Goods |
- |
10.2 |
7.8 |
2.5 |
0.2 |
|
Inventories - Raw Materials |
- |
0.0 |
0.1 |
0.3 |
0.4 |
|
Total Inventory |
- |
10.2 |
7.8 |
2.7 |
0.7 |
|
Prepaid Expenses |
- |
0.8 |
0.6 |
0.3 |
0.6 |
|
Total Current Assets |
- |
33.4 |
21.4 |
15.3 |
10.1 |
|
|
|
|
|
|
|
|
Buildings |
- |
0.3 |
0.4 |
0.4 |
0.3 |
|
Machinery/Equipment |
- |
3.0 |
2.7 |
1.6 |
0.3 |
|
Construction
in Progress |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Other
Property/Plant/Equipment |
- |
- |
0.0 |
0.5 |
0.0 |
|
Property/Plant/Equipment - Gross |
- |
3.3 |
3.1 |
2.5 |
0.6 |
|
Accumulated Depreciation |
- |
-1.2 |
-1.1 |
-0.8 |
-0.6 |
|
Property/Plant/Equipment - Net |
- |
2.1 |
2.1 |
1.7 |
0.4 |
|
Goodwill, Net |
- |
14.7 |
14.6 |
13.8 |
3.1 |
|
Intangibles - Gross |
- |
0.4 |
0.4 |
0.4 |
- |
|
Accumulated Intangible Amortization |
- |
-0.3 |
-0.2 |
-0.1 |
- |
|
Intangibles, Net |
- |
0.1 |
0.2 |
0.3 |
0.0 |
|
LT Investment - Affiliate
Companies |
- |
8.2 |
7.1 |
6.9 |
2.6 |
|
LT Investments - Other |
- |
1.1 |
1.0 |
0.9 |
0.6 |
|
Long Term Investments |
- |
9.3 |
8.1 |
7.7 |
3.2 |
|
Note Receivable - Long Term |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
Other Long Term Assets |
- |
0.3 |
0.0 |
- |
- |
|
Other Long Term Assets, Total |
- |
0.3 |
0.0 |
- |
- |
|
Total Assets |
- |
60.1 |
46.5 |
39.0 |
16.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
- |
3.3 |
2.3 |
1.3 |
1.7 |
|
Accrued Expenses |
- |
2.1 |
2.3 |
1.5 |
1.9 |
|
Notes Payable/Short Term Debt |
- |
2.2 |
2.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
3.0 |
1.5 |
6.9 |
1.2 |
|
Customer Advances |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
- |
3.9 |
2.7 |
2.2 |
2.2 |
|
Other Current liabilities, Total |
- |
3.9 |
2.7 |
2.3 |
2.3 |
|
Total Current Liabilities |
- |
14.6 |
10.8 |
12.1 |
7.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
13.1 |
5.1 |
- |
- |
|
Total Long Term Debt |
- |
13.1 |
5.1 |
0.0 |
0.0 |
|
Total Debt |
- |
18.3 |
8.5 |
7.0 |
1.2 |
|
|
|
|
|
|
|
|
Reserves |
- |
0.2 |
0.1 |
- |
- |
|
Other Liabilities, Total |
- |
0.2 |
0.1 |
- |
- |
|
Total Liabilities |
- |
27.9 |
16.0 |
12.1 |
7.1 |
|
|
|
|
|
|
|
|
Common Stock |
- |
1.8 |
1.4 |
1.0 |
0.9 |
|
Common Stock |
- |
1.8 |
1.4 |
1.0 |
0.9 |
|
Additional Paid-In Capital |
- |
18.4 |
14.9 |
12.3 |
3.2 |
|
Retained Earnings (Accumulated Deficit) |
- |
12.0 |
14.1 |
13.6 |
5.6 |
|
Total Equity |
- |
32.2 |
30.5 |
26.9 |
9.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
- |
60.1 |
46.5 |
39.0 |
16.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
- |
7.7 |
7.2 |
6.8 |
6.8 |
|
Total Common Shares Outstanding |
- |
7.7 |
7.2 |
6.8 |
6.8 |
|
Employees |
- |
118 |
120 |
86 |
20 |
|
Accumulated Intangible Amort, Suppl. |
- |
0.3 |
0.2 |
0.1 |
0.0 |
|
Deferred Revenue - Current |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Debt, Supplemental |
- |
16.1 |
6.6 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
- |
3.0 |
1.5 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
- |
2.3 |
1.0 |
- |
- |
|
Long Term Debt Maturing in Year 3 |
- |
2.3 |
1.0 |
- |
- |
|
Long Term Debt Maturing in Year 4 |
- |
2.3 |
1.0 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
2.3 |
1.0 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
4.6 |
2.0 |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
- |
4.6 |
2.0 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
3.9 |
1.0 |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
15 Months |
|
|
|
|
|
UpdateType/Date |
Updated Special |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.726943 |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
|
Auditor |
|
Fiduco |
Fiduco |
Fiduco |
Fiduco |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Annual
Income Statement
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Special |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.804541 |
|
Auditor |
Fiduco |
Fiduco |
Fiduco |
Fiduco |
Jacques Sultan |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Merchandises Sales |
24.5 |
19.1 |
19.3 |
16.6 |
- |
|
Production Sold / Goods |
1.1 |
2.4 |
- |
- |
- |
|
Production Sold / Services |
0.1 |
0.0 |
0.0 |
-0.2 |
- |
|
Other Revenue |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Turnover |
- |
- |
- |
- |
5.9 |
|
Total Revenue |
25.8 |
21.5 |
19.3 |
16.4 |
5.9 |
|
|
|
|
|
|
|
|
Costs of Revenue |
- |
- |
- |
- |
3.7 |
|
Marketing Costs |
- |
- |
- |
- |
0.9 |
|
Administrative Charges |
- |
- |
- |
- |
0.4 |
|
Stocked Production |
- |
- |
0.2 |
0.0 |
- |
|
Writebacks Provisions &
Transf. Charges |
-0.1 |
0.0 |
0.0 |
-0.3 |
- |
|
Merchandises Purchases |
12.5 |
11.8 |
8.6 |
8.8 |
- |
|
Stock Variation / Merchandises |
-2.9 |
-5.0 |
-1.2 |
0.0 |
- |
|
Raw Materials & Other
Purchases |
0.2 |
0.9 |
1.2 |
1.5 |
- |
|
Stock Variation / Raw Materials
& Other |
0.0 |
0.2 |
0.2 |
-0.3 |
- |
|
Other Purchases & External
Charges |
5.4 |
5.0 |
3.5 |
2.2 |
- |
|
Taxes and Duties |
0.5 |
0.4 |
0.2 |
0.1 |
- |
|
Personnel Expenses |
4.3 |
3.7 |
1.8 |
0.7 |
- |
|
Social Security Charges |
1.6 |
1.4 |
0.6 |
0.3 |
- |
|
Depreciation / FA |
0.4 |
0.4 |
0.1 |
0.0 |
- |
|
Intangibles Amortization |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Impairment of Current Assets |
0.2 |
0.2 |
0.0 |
0.0 |
- |
|
Provisions / Risks & Charges |
0.2 |
0.1 |
- |
- |
- |
|
Other Operating Charges |
0.1 |
0.0 |
0.0 |
0.4 |
- |
|
Other Income / Charges |
- |
- |
- |
- |
0.8 |
|
Other Operating Income / Charges |
- |
- |
- |
- |
-0.8 |
|
Exceptional Income / Operating |
0.0 |
-0.2 |
-0.1 |
0.0 |
- |
|
Exceptional Income / Capital |
-2.6 |
-0.3 |
-8.7 |
-0.2 |
- |
|
Writebacks / Exceptional
Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Litigation |
- |
- |
0.0 |
0.0 |
- |
|
Exceptional Expenses / Operating |
0.0 |
0.3 |
0.2 |
0.0 |
- |
|
Exceptional Expenses / Capital |
3.9 |
0.3 |
2.6 |
0.1 |
- |
|
Total Operating Expense |
23.9 |
19.2 |
9.5 |
13.3 |
5.0 |
|
|
|
|
|
|
|
|
Participation Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Interest Income |
0.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Exchange Gains |
0.0 |
0.2 |
0.2 |
0.1 |
- |
|
Sale of Securities Revenue |
0.2 |
0.2 |
0.0 |
0.0 |
- |
|
Interest Expenses |
-0.5 |
-0.4 |
-0.4 |
-0.2 |
-0.1 |
|
Other Financial Expenses |
0.0 |
0.0 |
-0.1 |
0.0 |
- |
|
Exchange Losses |
0.0 |
-0.2 |
-0.1 |
0.0 |
- |
|
Sale of Securities Charges |
-0.1 |
0.0 |
0.0 |
0.0 |
- |
|
Other Financial Income / Charges |
- |
- |
- |
- |
0.0 |
|
Net Income Before Taxes |
1.6 |
2.2 |
9.6 |
3.1 |
0.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.8 |
0.5 |
0.9 |
1.0 |
0.3 |
|
Net Income After Taxes |
0.8 |
1.7 |
8.7 |
2.1 |
0.5 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
- |
- |
- |
-0.2 |
|
Net Income Before Extra. Items |
0.8 |
1.7 |
8.7 |
2.1 |
0.3 |
|
Net Income |
0.8 |
1.7 |
8.7 |
2.1 |
0.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
0.8 |
1.7 |
8.7 |
2.1 |
0.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.8 |
1.7 |
8.7 |
2.1 |
0.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
7.7 |
7.2 |
6.8 |
6.8 |
4.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.10 |
0.24 |
1.28 |
0.31 |
0.08 |
|
Basic EPS Including ExtraOrdinary Items |
0.10 |
0.24 |
1.28 |
0.31 |
0.08 |
|
Diluted Net Income |
0.8 |
1.7 |
8.7 |
2.1 |
0.3 |
|
Diluted Weighted Average Shares |
7.7 |
7.2 |
6.8 |
6.8 |
5.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.10 |
0.24 |
1.27 |
0.31 |
0.07 |
|
Diluted EPS Including ExtraOrd Items |
0.10 |
0.24 |
1.27 |
0.31 |
0.07 |
|
DPS-Common Stock |
0.25 |
0.21 |
0.22 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
1.9 |
1.8 |
1.4 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3.0 |
2.3 |
3.7 |
3.0 |
0.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.5 |
0.5 |
0.4 |
1.0 |
0.3 |
|
Normalized Income After Taxes |
1.4 |
1.7 |
3.3 |
2.0 |
0.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.4 |
1.7 |
3.3 |
2.0 |
0.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.24 |
0.49 |
0.30 |
0.08 |
|
Diluted Normalized EPS |
0.18 |
0.24 |
0.49 |
0.30 |
0.07 |
|
Interest Expense |
0.5 |
0.4 |
0.4 |
0.2 |
0.1 |
|
Intangibles Amortization |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Depreciation |
0.4 |
0.6 |
0.1 |
0.0 |
0.1 |
|
Research & Development |
0.2 |
0.7 |
1.0 |
0.8 |
- |
|
Rental Expense |
2.4 |
2.2 |
1.2 |
0.3 |
- |
|
Advertising Expense |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Current Tax |
1.1 |
0.8 |
1.2 |
1.0 |
- |
|
Current Tax - Total |
1.1 |
0.8 |
1.2 |
1.0 |
- |
|
Research Tax Credit |
-0.2 |
-0.3 |
-0.3 |
0.0 |
- |
|
Income Tax - Total |
0.8 |
0.5 |
0.9 |
1.0 |
- |
|
Discount Rate |
- |
- |
- |
- |
5.00% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.847781 |
|
Auditor |
Fiduco |
Fiduco |
Fiduco |
Fiduco |
Jacques Sultan |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Raw Materials |
0.0 |
0.1 |
0.3 |
0.4 |
0.2 |
|
Intermediate &Finished Goods |
0.0 |
0.0 |
0.0 |
0.2 |
0.2 |
|
Marchandises |
10.2 |
7.8 |
2.5 |
0.0 |
2.8 |
|
Advances & Accounts |
0.2 |
0.0 |
0.0 |
0.2 |
- |
|
Receivables - Net |
- |
- |
- |
- |
1.5 |
|
Receivables - Gross |
3.1 |
2.6 |
1.7 |
3.5 |
- |
|
Provision / Doubtful Accounts |
-0.1 |
-0.1 |
0.0 |
-0.1 |
- |
|
Other Receivables |
1.5 |
2.2 |
1.9 |
1.3 |
0.9 |
|
Advances |
0.4 |
0.2 |
0.1 |
- |
- |
|
Deferred Tax |
- |
- |
- |
- |
0.0 |
|
Short Term Investments |
11.1 |
6.1 |
6.6 |
1.3 |
- |
|
Cash |
6.8 |
2.0 |
2.0 |
2.9 |
9.8 |
|
Prepaid Expenses |
0.2 |
0.3 |
0.2 |
0.4 |
- |
|
Deferred Expenses |
- |
- |
- |
- |
0.0 |
|
Total Current Assets |
33.4 |
21.4 |
15.3 |
10.1 |
15.5 |
|
|
|
|
|
|
|
|
Business Goodwill - Net |
- |
- |
- |
3.1 |
- |
|
Business Goodwill |
14.7 |
14.6 |
13.8 |
- |
- |
|
Start-Up Costs |
0.4 |
0.4 |
0.4 |
- |
- |
|
Concessions, Patents, Licenses |
0.1 |
0.1 |
0.0 |
- |
- |
|
Concessions, Patents, Licenses
- Net |
- |
- |
- |
0.0 |
- |
|
Intangibles - Net |
- |
- |
- |
- |
3.6 |
|
Intangibles Amortisation |
-0.3 |
-0.2 |
-0.1 |
- |
- |
|
Buildings - Net |
- |
- |
- |
0.2 |
- |
|
Machinery & Equipment - Net |
- |
- |
- |
0.0 |
- |
|
Other Tangibles - Net |
- |
- |
- |
0.2 |
- |
|
Buildings |
0.3 |
0.4 |
0.4 |
0.0 |
- |
|
Other Buildings |
- |
- |
0.0 |
0.0 |
- |
|
Buildings Fixtures |
- |
- |
0.0 |
0.2 |
- |
|
Industrial Intallations &
Tools |
- |
- |
0.0 |
0.0 |
- |
|
Technical Materials |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Other Tangibles |
- |
0.0 |
0.5 |
0.0 |
3.2 |
|
Various Fixtures & Fittings |
2.7 |
2.4 |
1.4 |
0.0 |
- |
|
Various Fixtures & Fittings
Dufour |
- |
- |
0.0 |
0.1 |
- |
|
Transport |
0.0 |
0.0 |
- |
- |
- |
|
Gallery Lafayette Installations |
- |
- |
0.0 |
0.1 |
- |
|
IT & Office Equipment |
0.2 |
0.2 |
0.0 |
0.0 |
- |
|
DUF IT Equipment |
- |
- |
0.0 |
0.0 |
- |
|
Various Materials |
- |
- |
0.0 |
0.0 |
- |
|
Furniture |
- |
- |
0.0 |
0.0 |
- |
|
Tangibles in Progress |
0.0 |
0.0 |
0.1 |
0.0 |
- |
|
Depreciation |
-1.2 |
-1.1 |
-0.8 |
-0.6 |
-2.9 |
|
LT Investments |
- |
- |
- |
- |
0.0 |
|
Other Participations |
8.2 |
7.1 |
6.9 |
2.6 |
- |
|
LT Loans |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Other Financial Assets |
1.1 |
1.0 |
0.9 |
0.6 |
0.2 |
|
Debt Issuance Cost |
0.3 |
- |
- |
- |
- |
|
Currency Translation |
0.0 |
0.0 |
- |
- |
- |
|
Deferred Tax |
- |
- |
- |
- |
1.8 |
|
Total Assets |
60.1 |
46.5 |
39.0 |
16.8 |
21.3 |
|
|
|
|
|
|
|
|
Bond |
2.1 |
- |
- |
- |
- |
|
Loans |
0.9 |
1.5 |
6.9 |
1.2 |
0.5 |
|
Overdrafts |
2.2 |
2.0 |
0.0 |
0.0 |
- |
|
Accrued Interest |
0.0 |
0.0 |
- |
- |
- |
|
Other Financial Debt |
3.9 |
2.3 |
2.2 |
0.0 |
2.8 |
|
Trade Payables |
3.3 |
2.3 |
1.3 |
1.7 |
3.3 |
|
Fiscal And Social Debts |
2.1 |
2.3 |
1.5 |
1.9 |
- |
|
Income Tax Liabilities |
- |
- |
- |
- |
0.0 |
|
Other Current Liabilities |
0.0 |
0.4 |
0.0 |
2.2 |
- |
|
Advances |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Current Liabilities |
14.6 |
10.8 |
12.1 |
7.1 |
6.6 |
|
|
|
|
|
|
|
|
Bonds |
8.6 |
- |
- |
- |
- |
|
Long Term Debt / Institutions |
4.5 |
5.1 |
- |
- |
1.3 |
|
Total Long Term Debt |
13.1 |
5.1 |
- |
- |
1.3 |
|
|
|
|
|
|
|
|
Pension Provision |
- |
- |
- |
- |
0.0 |
|
Provisions / Risks |
0.2 |
0.1 |
- |
- |
0.2 |
|
Minority Interest |
- |
- |
- |
- |
4.6 |
|
Deferred Tax |
- |
- |
- |
- |
0.5 |
|
Total Liabilities |
27.9 |
16.0 |
12.1 |
7.1 |
13.3 |
|
|
|
|
|
|
|
|
Share Capital |
1.8 |
1.4 |
1.0 |
0.9 |
0.5 |
|
Share Premium |
18.4 |
14.9 |
12.3 |
3.2 |
- |
|
Consolidated Reserves |
- |
- |
- |
- |
7.1 |
|
Legal Reserve |
0.6 |
0.6 |
0.2 |
0.1 |
- |
|
Other Reserves |
0.6 |
0.9 |
1.1 |
1.2 |
- |
|
Retained Earnings |
10.1 |
10.9 |
4.1 |
2.1 |
- |
|
Net Income |
0.8 |
1.8 |
8.3 |
2.3 |
0.3 |
|
Total Equity |
32.2 |
30.5 |
26.9 |
9.7 |
8.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
60.1 |
46.5 |
39.0 |
16.8 |
21.3 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
7.7 |
7.2 |
6.8 |
6.8 |
4.5 |
|
Total Common Shares Outstanding |
7.7 |
7.2 |
6.8 |
6.8 |
4.5 |
|
T/S-Common Stock |
- |
- |
- |
- |
0.0 |
|
Intangible Amortisation |
0.3 |
0.2 |
0.1 |
0.0 |
0.4 |
|
Deferred Revenue |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Full-Time Employees |
118 |
120 |
86 |
20 |
10 |
|
Current Portion of Long Term Debt |
3.0 |
1.5 |
- |
- |
0.0 |
|
Long Term Debt < 5 Years |
9.2 |
4.1 |
- |
- |
0.3 |
|
Long Term Debt Remaining |
3.9 |
1.0 |
- |
- |
1.0 |
|
Total Long Term Debt, Supplemental |
16.1 |
6.6 |
- |
- |
1.3 |
|
Discount Rate |
- |
- |
- |
- |
5.00% |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2005 |
|
Period Length |
6 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
EUR |
|
Exchange Rate (Period
Average) |
0.804541 |
|
Auditor |
Jacques Sultan |
|
Auditor Opinion |
Unqualified |
|
|
|
|
Net Income |
0.5 |
|
Depreciation |
0.1 |
|
Sale of Assets |
0.9 |
|
Add Value Taxes |
-0.3 |
|
Deferred Tax |
-0.3 |
|
Stock |
-0.1 |
|
Clients |
-0.4 |
|
Deferred Charges |
-0.6 |
|
Suppliers |
1.0 |
|
Other Debts |
-1.1 |
|
Adjustment |
1.7 |
|
Cash from Operating Activities |
1.4 |
|
|
|
|
LT Investments / Purchases / Sales |
0.0 |
|
Sale of Investments |
2.1 |
|
Add Value Taxes |
-0.3 |
|
Cash from Investing Activities |
1.8 |
|
|
|
|
LT Debt Reduction |
-0.4 |
|
Cash from Financing Activities |
-0.4 |
|
|
|
|
Net Change in Cash |
2.7 |
|
|
|
|
Cash Interest Paid |
7.0 |
|
Cash Taxes Paid |
9.8 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
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Annual Ratios
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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.