MIRA INFORM REPORT

 

 

Report Date :

21.02.2014

 

IDENTIFICATION DETAILS

 

Name :

AMER-SIL SA

 

 

Registered Office :

61, Rue d'olm 8281 Kehlen

 

 

Country :

Luxembourg

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

13.02.1970

 

 

Legal Form :

Limited company by shares

 

 

Line of Business :

Manufacture of batteries and accumulators

 

 

No. of Employees :

103

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Luxembourg

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LUXEMBOURG - ECONOMIC OVERVIEW

 

This small, stable, high-income economy - benefiting from its proximity to France, Belgium, and Germany - has historically featured solid growth, low inflation, and low unemployment. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, rubber, and other products. Growth in the financial sector, which now accounts for about 27% of GDP, has more than compensated for the decline in steel. Most banks are foreign-owned and have extensive foreign dealings, but Luxembourg has lost some of its advantages as a favorable tax location because of OECD and EU pressure. The economy depends on foreign and cross-border workers for about 40% of its labor force. Luxembourg, like all EU members, suffered from the global economic crisis that began in late 2008, but unemployment has trended below the EU average. Following strong expansion from 2004 to 2007, Luxembourg's economy contracted 3.6% in 2009, but rebounded in 2010-11 before slowing again in 2012. The country continues to enjoy an extraordinarily high standard of living - GDP per capita ranks among the highest in the world, and is the highest in the euro zone. Turmoil in the world financial markets and lower global demand during 2008-09 prompted the government to inject capital into the banking sector and implement stimulus measures to boost the economy. Government stimulus measures and support for the banking sector, however, led to a 5% government budget deficit in 2009. Nevertheless, the deficit was cut to 1.1% in 2011 and 0.9% in 2012. Even during the financial crisis and recovery, Luxembourg retained the highest current account surplus as a share of GDP in the euro zone, owing largely to their strength in financial services. Public debt remains among the lowest of the region although it has more than doubled since 2007 as percentage of GDP. Luxembourg's economy, while stabile, grew slowly in 2012 due to ongoing weak growth in the euro area. Authorities have strengthened supervision of domestic banks because of their exposure to the activities of foreign banks

 

Source : CIA

 

 

 

 

Company name and address

 

Company name

AMER-SIL SA

Operative address

61, Rue d'olm
8281 Kehlen
Luxembourg

Risk

Average risk

Status

Active

 

Legal form

Limited company by shares

Registration number

Trade register number: B 8.871 (Luxembourg)
Trade register number: B 8.871 (Luxembourg)

VAT-number

LU11389362

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

3.467.300

 -2,31

3.549.295

 86,89

1.899.112

Total receivables

2.460.196

 -10,12

2.737.090

 49,24

1.833.992

 

Total equity

7.095.875

 -1,90

7.233.475

 4,65

6.912.299

Short term liabilities

3.175.698

 9,18

2.908.695

 32,89

2.188.816

 

Net result

-137.600

 -147,30

290.898

 -59,43

717.074

 

Working capital

4.246.243

 -4,96

4.467.661

 -15,83

5.308.071

Quick ratio

1,44

 -12,73

1,65

 -38,20

2,67

 

 

Contact information

 

Company name

Amer-Sil SA

Operative address

61, Rue d'olm
8281 Kehlen
Luxembourg

Correspondence address

61, Rue d'olm
8281 Kehlen
Luxembourg

 

Telephone number

+352 309282

Fax number

+352 308375

Registration

Registration number

Trade register number: B 8.871 (Luxembourg)
Trade register number: B 8.871 (Luxembourg)

VAT-number

LU11389362

Status

Active

Establishment date

1970-02-13

 

Legal form

Limited company by shares

Activities

NACE

Manufacture of batteries and accumulators (2720)

Relations

Shareholders

ULTIMATE GLOBAL SHAREHOLDER
Name: MOORE LIMITED
City: WESTERLY
Country: US
Type: Industrial company
Share direct: 99.91%

ULTIMATE DOMESTIC SHAREHOLDER
Name: AMER-SIL SA
National id number: B 8.871 (Luxembourg)
Address: 61, Rue d'Olm
Zipcode: 8281
City: KEHLEN
Country: LU
Phone: +352 309282
FAX: +352 308375
Type: Industrial company
Share direct: 100.00%
Share TOTAL: 100.00%
Turnover: 7.6 mil. USD
TOTAL assets: 14.37 mil. USD
Profit loss before tax: -0.28866 mil. USD
Profit loss after tax net income: -0.18155 mil. USD
Shareholders funds: 9.3623 mil. USD

SHAREHOLDERS
Name: MOORE LIMITED
City: WESTERLY
Country: US
Type: Industrial company
Share direct: 99.91%
Number of employees: 0

Name: MOORE COMPANY, THE
National id number: 05-0185270
Address: 36 BEACH ST
Zipcode: 02891
City: WESTERLY
Country: US
Phone: +1 401 596 2816
FAX: +1 401 596 3793
Website: www.themooreco.com
Type: Industrial company
Share direct: 0.09%
TOTAL assets: 122.16 mil. USD
Shareholders funds: 85.771 mil. USD
Number of employees: 180

Structure

SUBSIDIARIES
Name: AMER-SIL LEASING SARL
National id number: B 158.625 (Luxembourg)
Address: 61, Rue d'Olm
Zipcode: 8281
City: KEHLEN
Country: LU
Type: Financial company
Phone: +352 3092821
Fax: +352 308375
Share direct: 100.00%
Turnover: 0 mil. USD
Total assets: 2.46 mil. USD
Shareholders funds: 2.45826 mil. USD

 

 

Management

 

Management

Fullname: Mrs Dana R. Barlow
Type: Individual
Gender: Female
date of birth: 1956
Age: 58
Address: Narragansett, RI, United States
Number of involvements: 5
Function: Administrative Board (AG)
Level of responsibility: Member

Fullname: Mr Guy Dauwe
Type: Individual
Gender: Male
date of birth: 1968
Age: 46
Address: Rue Nicolas Liez 1, 1938, Luxembourg, Luxembourg
Number of involvements: 3
Function: Administrative Board (AG)
Level of responsibility: Member

Fullname: Mrs Alexandra Moore Barber
Type: Individual
Gender: Female
date of birth: 1963/02/22
Age: 50
Country of nationality: United States of America
Address: Stonington, CT, United States
Number of involvements: 5
Function: Administrative Board (AG)
Level of responsibility: Member

Fullname: Ernst & Young LLP LLP
Type: Company
Address: Rue Gabriel Lippmann 7, 5365, Munsbach, Luxembourg
Country: Israel
Number of involvements: 350
Function: Member, Supervisory Board (AG)
Level of responsibility: Member

 

Employees

 

Year

2012

2011

2010

2009

2008

Total

103

92

81

77

79

 

 

Financial analysis

 

Trend

Fluctuating

Profitability

Negative

Solvability

More than sufficient

Liquidity

Positive

Show amount in

Euro

 

 

Key figures

 

Year

2012

2011

2010

2009

2008

Quick ratio

1,44

1,65

2,67

2,97

2,89

Current ratio

2,34

2,54

3,43

4,24

3,86

 

Working capital/ balance total

0,39

0,41

0,56

0,61

0,63

Equity / balance total

0,65

0,66

0,74

0,81

0,78

Equity / Fixed assets

2,05

2,04

3,64

3,87

5,30

Working capital

4.246.243

4.467.661

5.308.071

4.646.261

5.014.758

Equity

7.095.875

7.233.475

6.912.299

6.195.226

6.155.962

Mutation equity

-1,90

4,65

11,57

0,64

 

Mutation short term liabilities

9,18

32,89

52,79

-18,38

 

 

Return on total assets (ROA)

-2,01

2,50

10,01

1,89

-7,68

Return on equity (ROE)

-3,08

3,78

13,61

2,34

-9,90

Gross profit margin

-2,94

7,16

15,30

3,17

-14,84

Net profit margin

-2,39

5,15

12,65

0,92

-13,87

 

Average collection ratio

1,81

1,94

2,59

2,98

2,42

Average payment ratio

2,34

2,06

3,09

1,82

1,78

Equity turnover ratio

0,81

0,78

0,82

0,69

0,69

Total assets turnover ratio

0,53

0,52

0,60

0,56

0,54

Fixed assets turnover ratio

1,66

1,59

2,99

2,67

3,66

Inventory conversion ratio

2,02

2,20

3,44

2,33

2,50

 

Turnover

5.761.121

5.651.547

5.669.230

4.273.367

4.249.465

Operating result

-169.376

404.662

867.503

135.412

-630.738

Net result after taxes

-137.600

290.898

717.074

39.263

-589.207

 

Cashflow

109.602

531.561

985.326

556.454

217.643

Gross profit

5.788.530

5.788.222

5.546.257

4.322.322

4.143.021

EBITDA

77.826

645.325

1.135.755

652.603

176.112

Summary

The 2012 financial result structure is a postive working captial of 4.246.243 euro, which is in agreement with 39 % of the total assets of the company.
The working capital has diminished with -4.96 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2012 was 2.34. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2012 of the company was 1.44. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

The 2011 financial result structure is a postive working captial of 4.467.661 euro, which is in agreement with 41 % of the total assets of the company.
The working capital has diminished with -15.83 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
The deterioration between 2010 and 2011 has mainly been caused by an increase of the current liabilities.
The current ratio of the company in 2011 was 2.54. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2011 of the company was 1.65. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.


Financial statement

 

Last annual account

2012

Remark annual account

The company is obliged to file its financial statements.

Type of annual account

Corporate

Annual account

Amer-Sil SA
61, Rue d'olm
8281 Kehlen
Luxembourg

 

 

Balance

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Tangible fixed assets

1.065.931

1.147.940

1.185.357

1.016.335

892.156

Other fixed assets

2.401.370

2.401.355

713.755

584.028

269.047

Fixed assets

3.467.300

3.549.295

1.899.112

1.600.362

1.161.203

 

Inventories

2.852.982

2.569.371

1.646.054

1.830.629

1.697.335

Total receivables

2.460.196

2.737.090

1.833.992

2.347.069

2.386.975

Liquid funds

385.688

417.182

2.350.613

1.631.504

1.995.034

Other current assets

1.723.074

1.652.714

1.666.229

269.645

690.515

Current assets

7.421.941

7.376.356

7.496.887

6.078.847

6.769.859

Total assets

10.889.242

10.925.651

9.395.999

7.679.209

7.931.062

 

Total equity

7.095.875

7.233.475

6.912.299

6.195.226

6.155.962

Provisions

230.173

256.378

294.884

51.396

20.000

Long term liabilities

387.496

527.102

 

 

 

Accounts payable

1.053.061

1.521.880

1.075.984

687.323

638.171

Liabilities towards credit institutes

1.082.522

552.996

 

89

302.659

Other short term liabilities

1.040.115

833.819

1.112.832

745.174

814.271

Short term liabilities

3.175.698

2.908.695

2.188.816

1.432.586

1.755.101

Total liabilities

10.889.242

10.925.651

9.395.999

7.679.209

7.931.062

Summary

The total assets remained the same between 2011 and 2012.
Despite the fact that the total assets remained the same, the fixed assets decreased with -2.31 %.
In 2012 the assets of the company were 31.84 % composed of fixed assets and 68.16 % by current assets. The assets are being financed by an equity of 65.16 %, and total debt of 34.84 %.

The total assets of the company increased with 16.28 % between 2010 and 2011.
The total asset increase is retrievable in the fixed asset growth of 86.89 %.
In 2011 the assets of the company were 32.49 % composed of fixed assets and 67.51 % by current assets. The assets are being financed by an equity of 66.21 %, and total debt of 33.79 %.

 

 

Profit and loss

 

Year

2012

2011

2010

2009

2008

Net turnover

5.761.121

5.651.547

5.669.230

4.273.367

4.249.465

 

Wages and salaries

5.648.010

4.996.569

4.232.485

3.610.764

3.821.448

Amorization and depreciation

247.202

240.663

268.252

517.191

806.850

Operating result

-169.376

404.662

867.503

135.412

-630.738

 

Financial income

27.284

42.140

107.169

30.226

71.641

Financial expenses

76.688

173.191

34.161

20.365

50.285

Financial result

-49.404

-131.051

73.008

9.861

21.357

Result on ordinary operations before taxes

-218.780

273.611

940.511

145.274

-609.382

 

Taxation on the result of ordinary activities

-45.770

86.901

294.285

134.739

53.645

Result of ordinary activities after taxes

-173.010

186.710

646.226

10.535

-663.027

 

Extraordinary income

150.000

104.187

70.848

28.729

73.819

Extraordinary expense

114.590

 

 

 

 

Extraordinary result before taxation

35.410

104.187

70.848

28.729

73.819

Net result

-137.600

290.898

717.074

39.263

-589.207

Summary

The turnover of the company grew with 1.94 % between 2011 and 2012.
The operating result of the company declined with -141.86 % between 2011 and 2012. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -180.4 % of the analysed period, being equal to 2011 % in the year 2012.
Despite the decline the assets turnover increased by 1.92 % reaching 0.53.
The Net Result of the company increased by -147.3 % between 2011 and 2012.
The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -181.48 % of the analysed period, being -3.08 % in the year 2012.
The company's financial profitability has been positively affected by its financial structure.

The turnover of the company remained the same between 2010 and 2011.
The operating result of the company declined with -53.35 % between 2010 and 2011. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -75.02 % of the analysed period, being equal to 2010 % in the year 2011.
This fall has contributed to a asset turnover decrease, whose index evolved from -13.33 to a level of 0.52.
The Net Result of the company increased by -59.43 % between 2010 and 2011.
The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -72.23 % of the analysed period, being 3.78 % in the year 2011.
The company's financial profitability has been positively affected by its financial structure.

 

Publications

 

Remarks

Status: Active
Category: Medium sized company
Last year: 2012
Turnover last year: 5.761.121 EUR
Result last year: -137.600 EUR
TOTAL assets last year: 10.889.242 EUR
Number of employees: 103
Number of shareholders: 2
Number of subsidiaries: 1
Number of branches: 0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.28

UK Pound

1

Rs.103.84

Euro

1

Rs.85.70

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.