|
Report Date : |
01.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
LOIRET & HAENTJENS SA |
|
|
|
|
Registered Office : |
2 Place de la Bourse BP
90705 Nantes 44000; Cedex 1 |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
15.01.1954 |
|
|
|
|
Com. Reg. No.: |
854800315 |
|
|
|
|
Legal Form : |
Public
Subsidiary |
|
|
|
|
Line of Business : |
Import, storage
and distribution of agricultural commodities mainly for European food and
feed industries, including sugars and animal feed |
|
|
|
|
No. of Employees : |
37 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
No complaints |
|
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) |
|
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 mitigate economic inequality. France's real GDP contracted in 2009, and has recovered slowly since then. The unemployment rate increased from 7.4% in 2008 to 10.5% in 2013. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high spending on social protection 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 4.0% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. Under President SARKOZY, Paris implemented some austerity measures to begin bringing the budget deficit under the 3% euro-zone ceiling 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 looser fiscal policy, greater state support for employment, 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 governments budget for 2014 introduced a temporary 75% tax on wages over one million euros, to be paid by employers. France ratified the EU fiscal stability treaty in October 2012. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of Frances bonds
|
Source
: CIA |
LOIRET & HAENTJENS
SA
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Import, storage and distribution of agricultural commodities mainly
for European food and feed industries, including sugars and animal feed |
|
Industry |
|
|
ANZSIC 2006: |
|
|
ISIC Rev 4: |
|
|
NACE Rev 2: |
4638 - Wholesale of other food, including fish,
crustaceans and molluscs |
|
NAICS 2012: |
424490 - Other Grocery and Related Products Merchant
Wholesalers |
|
UK SIC 2007: |
4638 - Wholesale of other food, including fish,
crustaceans and molluscs |
|
US SIC 1987: |
5149 - Groceries and Related Products, Not Elsewhere
Classified |
|
|
|
|
Registered No.(FRA): 854800315
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7769278
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7802157
|
|
|
|
|
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Origny Ste Benoite |
France |
Grocery Wholesale |
141.6 |
74 |
|
|
Subsidiary |
Origny-Sainte-Benoite |
France |
Food Manufacturing |
6,536.9 |
1,582 |
|
|
Subsidiary |
Sao Paulo |
Brazil |
Food Manufacturing |
3,799.8 |
14,253 |
|
|
Subsidiary |
Olímpia, SP |
Brazil |
Crop and Animal Production |
864.9 |
11,865 |
|
|
Subsidiary |
Pitangueiras, SP |
Brazil |
Food Manufacturing |
116.1 |
3,000 |
|
|
Subsidiary |
Dobrovice |
Czech Republic |
Food Manufacturing |
371.0 |
429 |
|
|
Subsidiary |
Lillebonne |
France |
Basic Chemical Manufacturing |
1,084.5 |
100 |
|
|
Subsidiary |
Marconne |
France |
Beverage Manufacturing |
51.7 |
99 |
|
|
Subsidiary |
Origny Sainte Benoîte |
France |
Grocery Wholesale |
663.1 |
74 |
|
|
Subsidiary |
Origny Sainte-Benoite |
France |
Basic Chemical Manufacturing |
21.3 |
15 |
|
|
Subsidiary |
Lillebonne |
France |
Beverage Manufacturing |
207.2 |
116 |
|
|
Subsidiary |
Origny Ste Benoite |
France |
Alcoholic Beverage Wholesale |
141.1 |
14 |
|
|
Subsidiary |
Calais |
France |
Shipping and Water Transport |
0.5 |
7 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Grocery Wholesale |
52.9 |
5 |
|
|
Subsidiary |
Origny Ste Benoite |
France |
Miscellaneous Wholesale |
70.0 |
||
|
Subsidiary |
Origny Ste Benoite |
France |
Beverage Manufacturing |
19.8 |
||
|
Subsidiary |
Saint-Quentin |
France |
Food Manufacturing |
|||
|
Subsidiary |
Origny Ste Benoite |
France |
Miscellaneous Professional Services |
|||
|
Joint Venture |
Marckolsheim |
France |
Grocery Stores |
|||
|
Subsidiary |
Saint Denis, Cambuston |
France |
Food Manufacturing |
|||
|
Subsidiary |
Lille |
France |
Basic Chemical Manufacturing |
|||
|
Subsidiary |
Mlada Boleslav |
Czech Republic |
Basic Chemical Manufacturing |
|||
|
Tereos Participations |
Subsidiary |
|||||
|
Subsidiary |
Marckolsheim |
France |
Basic Chemical Manufacturing |
799.8 |
564 |
|
|
Facility |
Aalst |
Belgium |
Food Manufacturing |
718.7 |
388 |
|
|
Subsidiary |
Zaragoza |
Spain |
Food Manufacturing |
105.6 |
181 |
|
|
Subsidiary |
Haussimont |
France |
Food Manufacturing |
35.8 |
74 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Grocery Wholesale |
0.9 |
5 |
|
|
Subsidiary |
Pedrengo, Bergamo |
Italy |
Beverage Manufacturing |
61.9 |
43 |
|
|
Subsidiary |
Nantes |
France |
Grocery Wholesale |
202.5 |
37 |
|
|
Subsidiary |
El Prat De Llobregat, Barcelona |
Spain |
Grocery Wholesale |
15.1 |
4 |
|
|
|
Internship Chemist (m/f) in Product Management &
International Trade |
26-Jul-2013 |
||
|
31-Mar-2013 |
31-Mar-2012 |
31-Dec-2011 |
|
|
Period Length |
12 Months |
3 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.776928 |
0.726943 |
0.71919 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
202.8 |
56.5 |
209.6 |
|
Net sales |
202.5 |
55.5 |
209.2 |
|
Change in stock |
-8.5 |
10.4 |
-15.8 |
|
Supplementary operating income |
0.2 |
1.0 |
0.1 |
|
Other operating income |
0.2 |
0.0 |
0.2 |
|
Other external charges |
17.3 |
2.8 |
14.9 |
|
Cost of goods sold |
155.2 |
31.3 |
179.1 |
|
Taxes and social security costs |
1.5 |
0.3 |
1.0 |
|
Social charges |
1.3 |
0.3 |
1.2 |
|
Total payroll costs |
2.3 |
0.7 |
2.3 |
|
Cost of stock depreciation and amortisation |
0.1 |
- |
1.2 |
|
Fixed asset depreciation and amortisation |
0.6 |
0.1 |
0.5 |
|
Other operating costs |
0.0 |
0.0 |
0.0 |
|
Total operating costs |
169.8 |
45.9 |
184.4 |
|
Net operating income |
33.0 |
10.6 |
25.1 |
|
Total financial income |
2.2 |
0.4 |
2.4 |
|
Interest payable on loans |
1.7 |
0.4 |
1.4 |
|
Other expenses |
0.0 |
- |
2.7 |
|
Total expenses |
1.7 |
0.4 |
4.1 |
|
Profit before tax |
33.5 |
10.6 |
23.4 |
|
Extraordinary income |
5.0 |
0.1 |
3.9 |
|
Extraordinary expenses |
5.3 |
0.0 |
2.0 |
|
Extraordinary result |
-0.3 |
0.0 |
1.9 |
|
Total taxation |
10.7 |
3.3 |
4.7 |
|
Profit distributed to employees |
0.5 |
0.1 |
0.5 |
|
Net profit |
22.0 |
7.2 |
20.0 |
|
Annual
Balance Sheet |
|
Financials in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
31-Dec-2011 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.780216 |
0.753463 |
0.770327 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
6.0 |
6.2 |
6.1 |
|
Share premium account |
1.1 |
1.2 |
1.2 |
|
Legal reserves |
1.7 |
1.6 |
1.6 |
|
Total reserves |
33.6 |
31.4 |
21.5 |
|
Profits for the year |
21.9 |
6.9 |
18.7 |
|
Profit brought forward from previous year(s) |
1.9 |
2.0 |
1.9 |
|
Total stockholders equity |
66.3 |
49.3 |
50.9 |
|
Provisions and allowances |
0.4 |
0.4 |
0.4 |
|
Trade creditors |
15.5 |
13.5 |
25.1 |
|
Bank loans and overdrafts |
22.4 |
32.8 |
38.4 |
|
Current bank debts |
8.7 |
- |
17.9 |
|
Other loans |
12.7 |
11.0 |
3.3 |
|
Other liabilities |
1.2 |
0.8 |
0.8 |
|
Debts on fixed assets |
- |
0.0 |
0.0 |
|
Income stated in advance |
0.7 |
- |
0.6 |
|
Taxation and social security |
2.1 |
8.0 |
5.0 |
|
Total current liabilities |
37.6 |
47.6 |
56.8 |
|
Total debts |
54.6 |
66.1 |
73.2 |
|
Total liabilities (including net worth) |
121.3 |
115.8 |
124.5 |
|
Patents |
0.1 |
0.0 |
0.0 |
|
Goodwill |
0.4 |
- |
- |
|
Land |
0.0 |
0.0 |
0.0 |
|
Buildings |
3.6 |
3.9 |
4.0 |
|
Other fixed assets |
0.5 |
0.4 |
0.2 |
|
Long-term investments |
4.9 |
8.6 |
8.4 |
|
Other financial assets |
30.0 |
34.7 |
33.8 |
|
Total non-current assets |
39.6 |
47.7 |
46.4 |
|
Prepayments |
- |
0.1 |
0.0 |
|
Net stocks and work in progress |
41.7 |
33.1 |
41.2 |
|
Trade debtors |
30.6 |
21.1 |
22.3 |
|
Other receivables |
4.4 |
3.6 |
3.4 |
|
Prepaid expenses |
0.0 |
1.1 |
0.9 |
|
Cash and liquid assets |
4.9 |
9.0 |
9.9 |
|
Marketable securities |
- |
- |
0.3 |
|
Total current assets |
81.7 |
68.0 |
78.0 |
|
Total assets |
121.3 |
115.8 |
124.5 |
|
Annual
Ratios |
|
Financials in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
31-Dec-2011 |
|
|
Period Length |
12 Months |
3 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.780216 |
0.753463 |
0.770327 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
2.20 |
1.40 |
1.40 |
|
Quick ratio |
1.10 |
0.70 |
0.60 |
|
Total liabilities to net worth |
0.83% |
1.34% |
1.44% |
|
Net worth to total assets |
0.54% |
0.43% |
0.41% |
|
Collection period |
46.10 |
119.80 |
34.70 |
|
Stock turnover rate |
4.80 |
1.60 |
4.70 |
|
Asset turnover |
1.66% |
0.46% |
1.57% |
|
Profit margin |
0.17% |
0.19% |
0.11% |
|
Return on assets |
0.28% |
0.09% |
0.18% |
|
Shareholders' return |
0.51% |
0.21% |
0.43% |
|
Sales per employee |
25,795.50 |
7,146.70 |
32,904.25 |
|
Profit per employee |
4,268.91 |
1,367.68 |
3,675.59 |
|
Average wage per employee |
293.26 |
84.81 |
357.52 |
|
Net worth |
66.3 |
49.3 |
50.9 |
|
Number of employees |
40 |
37 |
30 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.07 |
|
UK Pound |
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
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
SCs 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.