MIRA
INFORM REPORT
|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SEABLUE |
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Registered Office : |
8, Rue Des Fabres Marseille, 13001 |
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Country : |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
15.06.2000 |
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Com. Reg. No.: |
432083558 |
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Legal Form : |
Private Independent |
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Line of Business : |
Engaged in non-specialised wholesale of food, beverages and tobacco. |
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No of Employees : |
14 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 : |
Slow But Correct |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
France |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 4.8% 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 details
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Seablue |
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Business Description
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Seablue 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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ISIC Rev 4: |
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NACE Rev 2: |
4639
- Non-specialised wholesale of food, beverages and tobacco |
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NAICS 2012: |
424490
- Other Grocery and Related Products Merchant Wholesalers |
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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 |
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Thomas Flajollet |
Commercial director, Marketing director |
News
|
1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7393314
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.806162
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ANZSIC 2006 Codes: |
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3609 |
- |
Other Grocery Wholesaling |
|
360 |
- |
Grocery, Liquor and Tobacco Product
Wholesaling |
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ISIC Rev 4 Codes: |
||
|
4630 |
- |
Wholesale of food, beverages and tobacco |
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NACE Rev 2 Codes: |
||
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4639 |
- |
Non-specialised wholesale of food,
beverages and tobacco |
|
4636 |
- |
Wholesale of sugar and chocolate and sugar
confectionery |
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4638 |
- |
Wholesale of other food, including fish,
crustaceans and molluscs |
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NAICS 2012 Codes: |
||
|
424490 |
- |
Other Grocery and Related Products
Merchant Wholesalers |
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424450 |
- |
Confectionery Merchant Wholesalers |
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424460 |
- |
Fish and Seafood Merchant Wholesalers |
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US SIC 1987: |
||
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5141 |
- |
Groceries, General Line |
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514 |
- |
Groceries and Related Products |
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5149 |
- |
Groceries and Related Products, Not Elsewhere
Classified |
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UK SIC 2007: |
||
|
4639 |
- |
Non-specialised wholesale of food,
beverages and tobacco |
|
4636 |
- |
Wholesale of sugar and chocolate and sugar
confectionery |
|
4638 |
- |
Wholesale of other food, including fish, crustaceans
and molluscs |
Business Description
Seablue is primarily engaged in non-specialised wholesale of food,
beverages and tobacco.
|
|
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Bank: |
Banque Populaire Province Et Corse,
Societe Marseillaise De Credit |
Executives Report
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Executives |
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Commercial director, Marketing director |
Marketing Executive |
News
Annual
Profit & Loss
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|
31-May-2012 |
31-May-2011 |
31-May-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.739331 |
0.744785 |
0.712864 |
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Consolidated |
No |
No |
No |
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Total income |
44.2 |
38.8 |
32.3 |
|
Net sales |
43.9 |
38.5 |
31.9 |
|
Change in stock |
-1.2 |
-0.9 |
0.3 |
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Supplementary operating income |
0.3 |
0.3 |
0.4 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Other external charges |
3.1 |
2.8 |
2.8 |
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Cost of goods sold |
38.5 |
33.1 |
26.6 |
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Taxes and social security costs |
0.2 |
0.2 |
0.1 |
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Social charges |
0.5 |
0.4 |
0.3 |
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Total payroll costs |
1.1 |
0.9 |
0.7 |
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Cost of stock depreciation and amortisation |
0.0 |
0.3 |
0.3 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.1 |
0.0 |
0.0 |
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Total operating
costs |
42.3 |
36.9 |
31.1 |
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Net operating
income |
1.9 |
1.9 |
1.2 |
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Total financial
income |
0.4 |
0.4 |
0.2 |
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Interest payable on loans |
0.4 |
0.2 |
0.3 |
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Other expenses |
0.7 |
0.5 |
0.3 |
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Total expenses |
1.1 |
0.7 |
0.5 |
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Profit before tax |
1.2 |
1.6 |
0.9 |
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Extraordinary income |
0.1 |
- |
0.0 |
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Extraordinary expenses |
0.1 |
0.0 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.4 |
0.5 |
0.3 |
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Net profit |
0.8 |
1.1 |
0.6 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.806162 |
0.695604 |
0.814963 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.1 |
0.1 |
0.1 |
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Total reserves |
0.0 |
0.0 |
0.0 |
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Profits for the year |
0.8 |
1.1 |
0.5 |
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Profit brought forward from previous
year(s) |
3.0 |
3.8 |
2.7 |
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Total
stockholders equity |
3.9 |
5.1 |
3.3 |
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Provisions and allowances |
0.1 |
0.2 |
- |
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Trade creditors |
3.6 |
4.9 |
3.9 |
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Advances received |
0.0 |
- |
- |
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Bank loans and overdrafts |
6.0 |
4.3 |
1.7 |
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Current bank debts |
4.7 |
4.2 |
1.4 |
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Other loans |
0.8 |
0.2 |
0.0 |
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Other liabilities |
0.1 |
0.0 |
0.2 |
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Taxation and social security |
0.5 |
0.8 |
0.4 |
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Total current
liabilities |
9.3 |
10.1 |
6.0 |
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Total debts |
11.0 |
10.3 |
6.2 |
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Regularisation account |
- |
0.0 |
- |
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Total
liabilities (including net worth) |
15.0 |
15.5 |
9.5 |
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Patents |
0.0 |
0.0 |
0.0 |
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Goodwill |
0.4 |
0.5 |
0.4 |
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Other fixed assets |
0.0 |
0.0 |
0.0 |
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Other financial assets |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
0.5 |
0.5 |
0.5 |
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Prepayments |
0.3 |
0.3 |
0.1 |
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Net stocks and work in progress |
7.8 |
7.7 |
5.8 |
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Trade debtors |
5.8 |
5.9 |
2.7 |
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Discounted bills not yet due |
3.1 |
2.6 |
2.2 |
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Other receivables |
0.4 |
0.6 |
0.3 |
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Prepaid expenses |
0.0 |
0.0 |
0.0 |
|
Cash and liquid assets |
0.1 |
0.4 |
0.2 |
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Total current
assets |
14.4 |
14.9 |
9.0 |
|
Prepaid expenses and deferred costs |
0.1 |
0.1 |
- |
|
Total assets |
15.0 |
15.5 |
9.5 |
Annual
Ratios
Financials in: USD (mil)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.806162 |
0.695604 |
0.814963 |
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Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.60 |
1.50 |
1.50 |
|
Quick ratio |
0.70 |
0.70 |
0.50 |
|
Total liabilities to net worth |
3.28% |
2.33% |
2.12% |
|
Net worth to total assets |
0.22% |
0.28% |
0.31% |
|
Collection period |
66.80 |
62.20 |
53.30 |
|
Stock turnover rate |
5.20 |
5.30 |
4.80 |
|
Asset turnover |
2.68% |
2.65% |
2.94% |
|
Profit margin |
0.03% |
0.04% |
0.03% |
|
Return on assets |
0.08% |
0.11% |
0.08% |
|
Shareholders' return |
0.34% |
0.39% |
0.26% |
|
Sales per employee |
13,316.49 |
13,424.32 |
12,444.46 |
|
Profit per employee |
374.09 |
564.18 |
340.75 |
|
Average wage per employee |
320.92 |
315.28 |
286.55 |
|
Net worth |
3.9 |
5.1 |
3.3 |
|
Number of employees |
16 |
14 |
12 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.31 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.