|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALBEMARLE EUROPE SPRL |
|
|
|
|
Registered Office : |
Avenue Louise 523, 1050 Brussels |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.05.1964 |
|
|
|
|
Com. Reg. No.: |
403062021 |
|
|
|
|
Legal Form : |
Private Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Manufacture of other inorganic basic chemicals |
|
|
|
|
No. of Employees : |
80 |
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 : |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized
on its central geographic location, highly developed transport network, and
diversified industrial and commercial base. Industry is concentrated mainly in
the more heavily-populated region of Flanders in the north. With few natural
resources, Belgium imports substantial quantities of raw materials and exports
a large volume of manufactures, making its economy vulnerable to volatility in
world markets. Roughly three-quarters of Belgium's trade is with other EU
countries, and Belgium has benefited most from its proximity to Germany. In
2011 Belgian GDP grew by 1.8%, the unemployment rate decreased slightly to 7.2%
from 8.3% the previous year, and the government reduced the budget deficit from
a peak of 6% of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter
GDP growth in 2012 was at -0.1%, the third consecutive quarter of negative
growth. This brought economic growth for the whole of 2012 to negative 0.2%. It
also left Belgium on the brink of a possible recession at the end of 2012. However,
at year's end, the government appeared close to meeting its 2012 budget deficit
goal of 3% of GDP. Despite the relative improvement in Belgium's budget
deficit, public debt hovers around 100% of GDP, a factor that has contributed
to investor perceptions that the country is increasingly vulnerable to
spillover from the euro-zone crisis. Belgian banks were severely affected by
the international financial crisis in 2008 with three major banks receiving
capital injections from the government, and the nationalization of the Belgian
retail arm of a Franco-Belgian bank.
|
Source
: CIA |
Business number 403062021
Company name ALBEMARLE EUROPE
SPRL
Address AVENUE LOUISE 523
1050 BRUSSELS
Number of staff 80
Date of establishment 13/05/1964
Telephone number 010481711
Fax number 010481717
Operative Address
Parc Scientifique de LLN, Rue du Bosquet 9,
B-1348 Louvain-la-Neuve, Belgium
Company name Company Number
ALBEMARLE CORPORATION -
The business was established over 50 years ago.
The business has 50 employees.
The business is part of a group.
The business has been at the address for over 15 years.
Pre-tax profits decreased by 64% compared to the previous trading
period.
The business saw a decrease in their Cash Balance of 28% during the
latest trading period.
Accounts
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net
worth |
Working
capital |
|
31/12/2012 |
848,522,560 |
18,120,578 |
302,971,692 |
119,609,839 |
|
31/12/2011 |
780,453,911 |
50,976,398 |
286,200,930 |
120,127,318 |
|
31/12/2010 |
708,013,522 |
18,716,246 |
193,584,483 |
68,883,788 |
Accounts
|
Date
of latest accounts |
Balance
Total |
Number
of Employees |
Capital |
Cashflow |
|
31/12/2012 |
1,217,553,020 |
80 |
263,430,353 |
33,306,395 |
|
31/12/2011 |
1,211,778,268 |
83 |
263,430,353 |
68,364,045 |
|
31/12/2010 |
1,208,465,033 |
91 |
223,430,353 |
31,929,088 |
Payment expectations
Past payments Payment
expectation days 25.46
Industry average payment
expectation days 61.97 Industry average day sales
outstanding 90.03
Day sales outstanding 32.26
Court data summary
Bankruptcy details
Court action type no
Protested bills
Bill amount
-
NSSO details
Date of summons –
Business number 403062021
Company
name ALBEMARLE EUROPE
SPRL
Fax number 010481717
Date
founded 13/05/1964
Company status active
Company
type Private Limited
Company
(BL/LX)
Currency Euro
(€) Date
of latest accounts 31/12/2012
Activity code 20130 Liable
for VAT yes
Activity description Manufacture
of other
inorganic
basic chemicals
VAT
Number BE.0403.062.021
Check
VAT
number
Belgian Bullettin of Acts
Publications moniteur
belge
Social Balance Sheet Total
During the reporting year
ended 31-12-2012
Full-time Employees 75
Part-time Employees 5
Total Fte Employees 79
Number of hours worked
Full-time Employees
125,834
Part-time Employees 5,813
Total 131,647
Personnel Charges
Full-time Employees 13,270,691
Part-time Employees 636,993
Total 13,907,684
Benefits In Addition To Wages 97,870
During the previous reporting year
Average number employees in Fte 85
Actual working hours 142,994
Personnel Charges 15,905,700
Benefits In Addition To Wages 81,284
Type of Contract Full-Time
Part-Time Total Fte
Unlimited Duration
Contracts 75 5 79
Limited Duration
Contracts 1 - 1
Contracts For Specific
Work - - -
Contracts Regarding
Substitution - - -
Gender and Education
Level
Men Full-Time
Part-Time Total Fte
Primary education 1 - 1
Secondairy education 2 - 2
Higher education (non
university) 11 - 11
Higher education
(university) 34 - 34
Women Full-Time
Part-Time Total Fte
Primary education - - -
Secondairy education - - -
Higher education (non
university) 14 3 16
Higher education
(university) 14 2 16
Working Category Full-Time
Part-Time Total Fte
Management - - -
White collar worker 76 5 80
Blue collar worker
-
- -
Other
-
- -
Temporary personnel Total
Average number of temporary staff 1
Actual working hours 1,014
Cost of temporary staff 51,410
New staff and leavers Full-Time
Part-Time Total Fte
New Starters 8 1 9
Leavers 11 1 12
Code -
Description FROM 50 TO 99
EMPLOYEES
JIC Code 207
Description Joint committee
for the employees off he chemical industry
category
Event Date 05/04/2013
Event Description authority
appointed
Event Details Commentaire
05-04-2013: Décision de conférer aux Silvio Ghyoot et Isabelle
Francheteau des
pouvoirs spéciaux. Le retrait de pouvoirs de Tim Peeters.
Event Date 04/09/2012
Event Description authority
appointed
Event Details Commentaire
07-04-2010: Retrait de la qualité de mandataire spécial de Madelaine
Delvaux.
Event Date 16/02/2011
Event Description authority
appointed
Event Details Commentaire
16-02-2011: Délégation de pouvoirs
Event Date 22/03/2011
Event Description
Event Details Rectifiication-acte
du 16/12/09: Le capital est fixé à 223430352.72 euros (et non
294854188.72
euros).
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
848,522,560 |
8.72 |
780,453,911 |
10.23 |
708,013,522 |
396,813,051 |
113 |
|
Total operating
expenses |
791,695,952 |
11.07 |
712,760,454 |
8.41 |
657,464,576 |
374,965,586 |
111 |
|
Operating
result |
56,826,608 |
-16.05 |
67,693,457 |
33.92 |
50,548,946 |
6,179,041 |
819 |
|
Total
financial income |
30,414,337 |
-47.42 |
57,844,932 |
23.39 |
46,879,753 |
2,912,222 |
944 |
|
Total
financial expenses |
69,120,368 |
-7.30 |
74,561,991 |
-5.27 |
78,712,453 |
4,945,880 |
1297 |
|
Results
on ordinary operations before taxation |
18,120,578 |
-64.45 |
50,976,398 |
172 |
18,716,246 |
3,679,312 |
392 |
|
Taxation |
645 |
-99 |
209,831 |
-79.65 |
1,031,087 |
2,825,013 |
-99 |
|
Results
on ordinary operations after taxation |
18,119,932 |
-64.31 |
50,766,567 |
187 |
17,685,159 |
1,884,598 |
861 |
|
Extraordinary
items |
-2,409,402 |
-215 |
2,092,239 |
66.94 |
1,253,315 |
4,225,399 |
-157 |
|
Other
appropriations |
0.00 |
- |
0 |
- |
0 |
- |
- |
|
Net
result |
15,710,530 |
-70.28 |
52,858,806 |
179 |
18,938,474 |
4,582,043 |
242 |
|
other
information |
|
|
|
|
|
|
|
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
145,814 |
- |
|
Dividends |
- |
- |
- |
- |
- |
6,990,333 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
302,204 |
- |
|
Employee
costs |
13,907,684 |
-12.56 |
15,905,700 |
4.93 |
15,158,267 |
13,260,028 |
4.88 |
|
Wages
and salary |
8,757,188 |
-16.93 |
10,542,091 |
9.37 |
9,638,881 |
9,134,026 |
-4.13 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
439,484 |
- |
|
Social
security contributions |
3,120,228 |
-5.90 |
3,315,804 |
6.03 |
3,127,187 |
2,987,259 |
4.45 |
|
Other
employee costs |
2,030,267 |
-0.86 |
2,047,805 |
-14.40 |
2,392,199 |
662,971 |
206 |
|
Amortization
and depreciation |
17,595,865 |
13.48 |
15,505,239 |
19.36 |
12,990,614 |
4,185,071 |
320 |
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
44,701,561 |
- |
45,761,792 |
- |
45,537,772 |
1,596,284 |
2700 |
|
Tangible fixed assets |
5,275,462 |
-1.89 |
5,377,016 |
31.91 |
4,076,397 |
12,411,944 |
-57.50 |
|
Land & building |
1,551,244 |
-34.45 |
2,366,366 |
-17.36 |
2,863,513 |
4,250,470 |
-63.50 |
|
Plant & machinery |
970,762 |
17.59 |
825,548 |
0.43 |
821,987 |
10,777,934 |
-90.99 |
|
Furniture & Vehicles |
1,023,642 |
-2.29 |
1,047,676 |
571 |
156,012 |
203,785
9,742 |
402 |
|
Leasing & Other
Similar |
|
|
|
|
|
5,692,725 |
|
|
Rights |
|
|
|
|
|
84,294 |
|
|
Other tangible assets |
1,729,813 |
52.08 |
1,137,426 |
384 |
234,885 |
1,768,196 |
-2.17 |
|
Financial fixed assets |
955,355,688 |
5.71 |
903,719,389 |
4.61 |
863,919,149 |
344,567,568 |
177 |
|
Total fixed assets |
1,005,332,710 |
5.29 |
954,858,197 |
4.52 |
913,533,318 |
241,334,784 |
316 |
|
Inventories |
88,505,122 |
-4.02 |
92,216,422 |
0.35 |
91,890,219 |
15,449,199 |
472 |
|
Raw materials &
consumables |
83,531 |
-1.58 |
84,872 |
-30.18 |
121,558 |
21,107,492 |
-99 |
|
Work in progress |
0 |
- |
0 |
- |
0 |
297,501 |
-100 |
|
Finished goods |
88,421,590 |
-4.03 |
92,131,550 |
0.40 |
91,768,661 |
5,596,049 |
1480 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
99,146 |
-100 |
|
Trade debtors |
74,991,828 |
58.93 |
47,186,412 |
18.30 |
39,887,941 |
16,152,527 |
364 |
|
Cash |
20,292,073 |
-28.22 |
28,269,693 |
-38.57 |
46,018,928 |
1,622,494 |
1150 |
|
other amounts receivable |
28,370,534 |
-68.19 |
89,178,415 |
-23.84 |
117,089,988 |
34,940,592 |
-18.80 |
|
Miscellaneous current
assets |
60,754 |
-12.11 |
69,129 |
54.86 |
44,639 |
267,458 |
-77.28 |
|
Total current assets |
212,220,310 |
-17.40 |
256,920,071 |
-12.89 |
294,931,715 |
61,573,707 |
244 |
|
Total Assets |
1,217,553,020 |
0.48 |
1,211,778,268
0.27 |
1,208,465,033 |
257,672,981
362,244 |
372 |
|
|
current
liabilities |
|
|
|
|
|
|
|
|
Trade
creditors |
55,225,646 |
-49.77 |
109,938,759 |
-7.90 |
119,370,373 |
15,880,081 |
247 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
- |
- |
- |
- |
79,811,558 |
137,093,470 37,800 |
- |
|
Current
portion of long term Debt |
- |
- |
- |
- |
- |
1,541,999 50,420 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
2,945,407 |
-12.96 |
3,383,985 |
-16.97 |
4,075,779 |
17,679 - |
61.33 |
|
Miscellaneous
current liabilities |
34,439,419 |
46.74 |
23,470,009 |
2.98 |
22,790,217 |
779 |
-- |
|
Total
current liabilities |
92,610,471 |
-32.30 |
136,792,753 |
-39.49 |
226,047,927 |
71,888,300 |
28.83 |
|
Long
term debts and liabilities |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Other
long term loans |
776,362,935 |
4.52 |
742,761,773 |
0.01 |
742,692,468 |
265 |
-- |
|
Deffered
taxes |
47,766 |
0.00 |
47,766 |
0 |
47,766 |
17,484,009 33,706 |
-99 |
|
Provisions
for Liabilities & Charges |
858,596 |
302 |
213,253 |
-61.55 |
554,617 |
4,243,238 0 |
-79.77 |
|
Other
long term liabilities |
0 |
-100 |
1 |
- |
0 |
83,855 |
-100 |
|
Total
long term debts |
777,269,296 |
4.61 |
743,022,793 |
-0.04 |
743,294,851 |
93,382,328 |
732 |
|
shareholders
equity |
|
|
|
|
|
|
|
|
Issued
share capital |
263,430,353 |
0.00 |
263,430,353 |
17.90 |
223,430,353 |
33,252,842 |
692 |
|
Share
premium account |
- |
- |
- |
- |
- |
23,181,077 |
- |
|
Reserves |
84,242,900 |
22.92 |
68,532,369 |
336 |
15,691,902 |
55,418,395 |
52.01 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
450 |
- |
|
Total
shareholders equity |
347,673,252 |
4.73 |
331,962,722 |
38.83 |
239,122,255 |
89,370,906 |
289 |
|
Working
capital |
119,609,839 |
-0.43 |
120,127,318 |
74.39 |
68,883,788 |
-10,314,593 |
1159 |
|
Cashflow |
33,306,395 |
-51.28 |
68,364,045 |
114 |
31,929,088 |
7,733,155 |
330 |
|
Net
worth |
302,971,692 |
5.86 |
286,200,930 |
47.84 |
193,584,483 |
87,774,622 |
245 |
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
|
|
|
|
|
|
|
|
|
Trading performance |
|||||||
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
2.14 |
-67.23 |
6.53 |
147 |
2.64 |
8,00 |
-73.25 |
|
Return on capital employed |
1.61 |
-66.03 |
4.74 |
148 |
1.91 |
-39,00 |
4.13 |
|
Return on total assets employed |
1.49 |
-64.61 |
4.21 |
171 |
1.55 |
-25,00 |
5.96 |
|
Return on net assets employed |
5.21 |
-66.08 |
15.36 |
96.17 |
7.83 |
114,00 |
-95.43 |
|
Sales / net working capital |
7.09 |
9.08 |
6.50 |
-36.77 |
10.28 |
16,00 |
0.00 |
|
Stock turnover ratio |
10.43 |
-11.76 |
11.82 |
-8.94 |
12.98 |
12,00 |
-13.08 |
|
Debtor days |
32.26 |
46.17 |
22.07 |
7.34 |
20.56 |
62,00 |
-47.97 |
|
Creditor days |
25.46 |
-54.78 |
56.30 |
-15.04 |
66.27 |
72,00 |
-64.64 |
|
|
|
short term stability |
|
|
|
||
|
Current ratio |
2.29 |
21.81 |
1.88 |
44.62 |
1.30 |
8,00 |
-80.92 |
|
Liquidity ratio / acid ratio |
1.34 |
11.67 |
1.20 |
33.33 |
0.90 |
6,00 |
-77.67 |
|
Current debt ratio |
0.27 |
-34.15 |
0.41 |
-56.84 |
0.95 |
12,00 |
-97.75 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
|
long term stability |
|
|
|
|
|
|
Gearing |
223.30 |
-0.20 |
223.75 |
-34.95 |
343.97 |
578,00 |
-61.37 |
|
Equity in percentage |
29.64 |
4.11 |
28.47 |
38.47 |
20.56 |
-3.436,00 |
0.86 |
|
Total debt ratio |
2.50 |
-5.66 |
2.65 |
-34.57 |
4.05 |
14,00 |
-82.14 |
Total number of Invoices available 3
Total number of Invoices paid within or up to 30 days after the due
date 1
Total number of Invoices paid more than 30 days after the due date 0
Total number of Invoices currently outstanding where the due date has
not yet been reached 0
Total number of Invoices currently outstanding beyond the due date 2
Suspension of payments / moratorium history
Amount -
Details -
Payment expectations
Payment expectation days 25.46
Day sales outstanding 32.26
Industry comparison
Activity code 20130
Activity description Manufacture of
other inorganic basic chemicals
Industry average payment
expectation days 61.97
Industry average day sales
Outstanding 90.03
Industry quartile analysis
Payment expectations
Company result 25.46
Lower 92.75
Median 68.35
Upper 41.59
Day sales outstanding
Company result 32.26
Lower 78.82
Median 42.10
Upper 23.60
Summary
Group - Number of Companies 4
Linkages - Number of Companies 66
Number of Countries 27
Company name Number Latest financials
- ALBEMARLE CORPORATION
- - ALBEMARLE EUROPE SPRL 403062021 31-12-2012
- - - ALBEMARLE GLOBAL FINANCE COMPANY SCA 889712011 31-12-2012
- - - ALBEMARLE CHEMICALS LTD SOC.ETR. E.P.B.
Minority
Shareholders
No
minority shareholders found
Minority
Interests
|
Business number |
Company name |
% |
Date of accounts |
|
34208118 |
Albemarle Netherlands C.V. |
6.25 |
- |
NSSO details
Business number 403062021
Name of defendant
-
Legal form of defendant -
Date of summons
-
Labour court
–
Bankruptcy details
There is no bankruptcy data against this company
court data
there is no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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.