MIRA
INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
AVL METAL POWDERS NV |
|
|
|
|
Registered Office : |
Elleboogstraat 7, 8500 Kortrijk |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1968 |
|
|
|
|
Com. Reg. No.: |
405375371 |
|
|
|
|
Legal Form : |
Public Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Manufacturer of basic iron and steel and of ferro-alloys (ECSC)* |
|
|
|
|
No. of Employees |
45 (31.12.2012) |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
Company name & address
Business number 405375371
Company name AVL METAL POWDERS
NV
Address ELLEBOOGSTRAAT 7
8500 KORTRIJK
Number of staff 45
Date of establishment 01/01/1968
Telephone number 056220021
Fax number 05622641
Commentary
|
|
The business was established
over 64 years ago. |
|
The business has 45 employees. |
|
The business has been at the
address for over 18 years. |
|
Operating Result in the latest
trading period decreased 83% on the previous trading period. |
|
Pre-tax profits decreased by
32% compared to the previous trading period. |
|
The business saw a decrease in
their Cash Balance of 23% during the latest trading period. |
Accounts
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
10,128,565 |
188,754 |
4,663,248 |
3,765,977 |
|
31/12/2011 |
10,037,364 |
279,902 |
4,787,082 |
3,794,063 |
|
Accounts |
||||
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
6,726,226 |
45 |
500,000 |
427,360 |
|
31/12/2011 |
6,474,062 |
44 |
500,000 |
521,846 |
|
31/12/2010 |
6,596,634 |
45 |
500,000 |
665,310 |
Trends
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
|
Past payments |
|
Payment expectation days |
23.12 |
|
Industry average payment expectation days |
82.55 |
Industry average day sales outstanding |
211.91 |
|
Day sales outstanding |
38.65 |
||
Court
data summary
|
|
|
BANKRUPTCY DETAILS |
|
|
Court action type |
no |
Company
information
|
Business number |
405375371 |
Company
name |
AVL
METAL POWDERS NV |
|
Fax number |
056226414 |
Date
founded |
01/01/1968 |
|
Company status |
active |
Company
type |
Public Limited Liability Company (BE) |
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/12/2012 |
|
Activity code |
24100 |
liable
for VAT |
yes |
|
Activity description |
Manufacture
of basic iron and steel and of ferro-alloys (ECSC)* |
VAT
Number |
BE.0405.375.371 |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
Social
Balance Sheet Details
|
Social Balance Sheet |
Total |
||
|
During the reporting year
ended 31-12-2012 |
|
||
|
Full-time Employees |
42 |
||
|
Part-time Employees |
4 |
||
|
Total Fte Employees |
44 |
||
|
|
|
||
|
Number of hours worked |
|
||
|
Full-time Employees |
56,394 |
||
|
Part-time Employees |
3,706 |
||
|
Total |
60,100 |
||
|
|
|
||
|
Personnel Charges |
|
||
|
Full-time Employees |
1,930,935 |
||
|
Part-time Employees |
126,894 |
||
|
Total |
2,057,829 |
||
|
Benefits In Addition To Wages |
- |
||
|
|
|
||
|
During the previous reporting
year |
|
||
|
Average number employees in
Fte |
45 |
||
|
Actual working hours |
59,405 |
||
|
Personnel Charges |
1,945,459 |
||
|
Benefits In Addition To Wages |
- |
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
43 |
4 |
45 |
|
Limited Duration Contracts |
- |
- |
- |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding
Substitution |
- |
- |
- |
|
Gender and Education Level |
|
||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondary education |
41 |
- |
41 |
|
Higher education (non
university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondary education |
2 |
4 |
4 |
|
Higher education (non
university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
|
|||
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
7 |
4 |
9 |
|
Blue collar worker |
36 |
- |
36 |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary personnel |
Total |
||
|
Average number of temporary
staff |
0 |
||
|
Actual working hours |
784 |
||
|
Cost of temporary staff |
30,893 |
||
|
|
|||
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
3 |
1 |
4 |
|
Leavers |
3 |
- |
3 |
|
Total of formal continuing vocational training
initiatives for workers paid by the employer |
Male |
Female |
|
|
Number of employees |
1 |
1 |
|
|
Number of training hours |
16 |
4 |
|
|
Net costs for enterprise |
1,779 |
238 |
|
|
Total of less formal and
informal continuing vocational training initiatives for workers paid by the
employer |
Male |
Female |
|
|
Number of employees |
- |
- |
|
|
Number of training hours |
- |
- |
|
|
Net costs for enterprise |
- |
- |
|
|
Total of initial training
initiatives at the expense of the employer |
Male |
Female |
|
|
Number of employees |
- |
- |
|
|
Number of training hours |
- |
- |
|
|
Net costs for enterprise |
- |
- |
|
Personnel
(NSSO classification)
|
Code |
- |
|
Description |
45 EMPLOYEES |
Joint
Industrial Committee
(JIC)
|
JIC Code |
105 |
|
Description |
Joint committee for the
nonferrous metals |
|
category |
|
|
|
|
|
JIC Code |
224 |
|
Description |
Joint committee for the
employees off the nonferrous metals |
|
category |
|
|
Significant Events |
|
|
Event Date |
30/09/2013 |
|
Event Description |
re-appointment of director(s) |
|
Event Details |
Commentaar 30-09-2013: Herbenoemd
als bestuurders tot na de jaarvergadering 2019 : ML-Invest BVBA (tevens als
gedelegeerd bestuurder en voorzitter van de raad van bestuur), Van Lerberghe
Pierre en Van Lerberghe Jean. |
Company accounts
Profit & Loss
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
52 |
52 |
|
|
||
|
Currency |
EUR |
EUR |
|
EUR |
|
|
|
|
Turnover |
10,128,565 |
0.91 |
10,037,364 |
-0.89 |
10,127,990 |
127,712,380 |
-92.07 |
|
Total operating expenses |
10,053,642 |
5.02 |
9,573,324 |
-1.87 |
9,755,645 |
134,734,559 |
-92.54 |
|
Operating result |
74,923 |
-83.85 |
464,039 |
24.63 |
372,345 |
-2,694,990 |
2.78 |
|
Total financial income |
378,521 |
309 |
92,371 |
-66.58 |
276,429 |
420,500 |
-9.98 |
|
Total financial expenses |
264,690 |
-4.27 |
276,508 |
30.52 |
211,855 |
1,016,092 |
-73.95 |
|
Results on ordinary operations before taxation |
188,754 |
-32.56 |
279,902 |
-35.94 |
436,920 |
-3,290,415 |
5.74 |
|
Taxation |
33,984 |
-37.76 |
54,597 |
-38.18 |
88,314 |
92,152 |
-63.12 |
|
Results on ordinary operations after taxation |
154,770 |
-31.31 |
225,305 |
-35.37 |
348,605 |
-3,356,174 |
4.61 |
|
Extraordinary items |
1,841 |
618 |
256 |
129 |
111 |
2,162,810 |
-99 |
|
Other appropriations |
37.54 |
-70.56 |
127.52 |
0 |
127.52 |
- |
- |
|
Net result |
156,648 |
-30.59 |
225,689 |
-35.30 |
348,844 |
-1,191,375 |
13.15 |
|
OTHER INFORMATION |
|||||||
|
Dividends |
279,000 |
0 |
279,000 |
0 |
279,000 |
8,777,364 |
-96.82 |
|
Director remuneration |
- |
- |
- |
- |
196,896 |
78,269 |
- |
|
Employee costs |
2,057,829 |
7.12 |
1,921,114 |
2.11 |
1,881,369 |
8,887,725 |
-76.85 |
|
Wages and salary |
1,349,007 |
6.27 |
1,269,376 |
2.40 |
1,239,640 |
5,943,832 |
-77.30 |
|
Employee pension costs |
- |
- |
- |
- |
- |
2,998,908 |
- |
|
Social security contributions |
566,226 |
-0.52 |
569,177 |
2.24 |
556,688 |
2,300,846 |
-75.39 |
|
Other employee costs |
142,596 |
72.71 |
82,562 |
-2.92 |
85,041 |
512,226 |
-72.16 |
|
Amortization and depreciation |
270,712 |
-8.59 |
296,157 |
-6.42 |
316,466 |
1,450,573 |
-81.34 |
Balance Sheet
|
Annual accounts |
31-122012 |
% |
31-122011 |
% |
31-122010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
- |
1,664 |
- |
8,429 |
182,812 |
-100 |
|
Tangible fixed assets |
992,413 |
-9.14 |
1,092,262 |
11.84 |
1,238,936 |
7,430,209 |
86.64 |
|
Land & building |
549,527 |
-7.05 |
591,238 |
-7.60 |
639,892 |
2,268,947 |
75.78 |
|
Plant & machinery |
411,562 |
-7.75 |
446,150 |
16.87 |
536,713 |
5,775,437 |
92.87 |
|
Furniture & Vehicles |
31,324 |
42.92 |
54,874 |
11.96 |
62,330 |
112,072 21,171 |
72.05 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
942,856 153,093 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
498,589 |
-100 |
|
Financial fixed assets |
500 |
79.56 |
2,446 |
25.70 |
1,946 |
11,031,345 |
-99 |
|
Total fixed assets |
992,913 |
-9.44 |
1,096,372 |
12.24 |
1,249,311 |
13,845,476 |
92.83 |
|
Inventories |
3,734,379 |
1.17 |
3,691,330 |
6.42 |
3,468,492 |
12,483,845 |
70.09 |
|
Raw materials & consumables |
745,186 |
33.81 |
556,918 |
8.65 |
512,601 |
14,913,438 |
95.00 |
|
Work in progress |
2,226,177 |
-0.72 |
2,242,402 |
13.68 |
2,597,670 |
1,710,251 |
30.17 |
|
Finished goods |
763,017 |
14.46 |
892,009 |
149 |
358,221 |
3,250,830 |
76.53 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
167,681 |
-100 |
|
Trade debtors |
1,072,574 |
11.91 |
958,410 |
32.38 |
1,417,382 |
6,802,528 |
84.23 |
|
Cash |
340,594 |
23.56 |
445,565 |
98.54 |
224,419 |
1,082,120 |
68.53 |
|
other amounts receivable |
575,148 |
103 |
282,386 |
19.13 |
237,030 |
13,447,390 |
95.72 |
|
Miscellaneous current assets |
10,618 |
- |
0 |
- |
0 |
968,804 |
98.90 |
|
Total current assets |
5,733,313 |
6.61 |
5,377,690 |
0.57 |
5,347,324 |
30,479,567 |
81.19 |
|
Total Assets |
6,726,226 |
3.89 |
6,474,062 |
-1.86 |
6,596,634 |
43,115,245 1,107,004 |
84.40 |
|
CURRENT LIABILITIES |
|||||||
|
Trade creditors |
636,858 |
168 |
237,554 |
48.10 |
457,728 |
8,983,842 |
92.91 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
671,992 |
22.18 |
550,000 |
29.41 |
425,000 |
2,386,117 87,483 |
71.84 |
|
Current portion of long term debt |
4,517 |
11.95 |
5,131 |
6.20 |
4,831 |
1,601,511 47,991 |
-99 |
|
Amounts Payable for Taxes, Remuneration &
Social Security |
252,843 |
14.02 |
294,059 |
-2.52 |
301,651 |
44,537 - |
86.85 |
|
Miscellaneous current liabilities |
401,126 |
19.27 |
496,884 |
15.66 |
429,598 |
-93.60 |
- - |
|
Total current liabilities |
1,967,336 |
24.23 |
1,583,627 |
-2.17 |
1,618,808 |
18,362,124 |
89.29 |
|
LONG TERM DEBTS AND
LIABILITIES |
|||||||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other long term loans |
- |
- |
4,517 |
53.18 |
9,648 |
- |
- - |
|
Deffered taxes |
- |
- |
38 |
77.26 |
165 |
66,733 14,737 |
- |
|
Provisions for Liabilities & Charges |
95,641 |
-1.54 |
97,133 |
22.73 |
125,708 |
4,087,085 0 |
97.66 |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
50,183 |
-100 |
|
Total long term debts |
95,641 |
-5.95 |
101,688 |
24.97 |
135,521 |
11,392,483 |
-99 |
|
SHAREHOLDERS EQUITY |
|||||||
|
Issued share capital |
500,000 |
0 |
500,000 |
0 |
500,000 |
9,856,568 |
94.93 |
|
Share premium account |
- |
- |
- |
- |
- |
9,375,237 |
- |
|
Reserves |
4,163,248 |
-2.93 |
4,288,746 |
-1.23 |
4,342,305 |
2,965,959 |
40.37 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
386,154 |
- |
|
Total shareholders equity |
4,663,248 |
-2.62 |
4,788,746 |
-1.11 |
4,842,305 |
13,360,638 |
65.10 |
|
Working capital |
3,765,977 |
-0.74 |
3,794,063 |
1.76 |
3,728,515 |
12,117,444 |
68.92 |
|
Cashflow |
427,360 |
18.11 |
521,846 |
21.56 |
665,310 |
62,033 |
588 |
|
Net worth |
4,663,248 |
-2.59 |
4,787,082 |
-0.97 |
4,833,876 |
13,177,825 |
64.61 |
Ratio Anaylsis
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
1.86 |
-33.33 |
2.79 |
-35.27 |
4.31 |
-29,00 |
6.41 |
|
Return on capital employed |
3.97 |
-30.59 |
5.72 |
-34.85 |
8.78 |
-1.120,00 |
0.35 |
|
Return on total assets employed |
2.81 |
-34.95 |
4.32 |
-34.74 |
6.62 |
-1.128,00 |
0.25 |
|
Return on net assets employed |
4.05 |
-30.77 |
5.85 |
-35.14 |
9.02 |
-1.017,00 |
0.40 |
|
Sales / net working capital |
2.69 |
1.51 |
2.65 |
-2.57 |
2.72 |
-3,00 |
-99 |
|
Stock turnover ratio |
36.87 |
0.24 |
36.78 |
7.39 |
34.25 |
128,00 |
-71.20 |
|
Debtor days |
38.65 |
10.90 |
34.85 |
-31.77 |
51.08 |
178,00 |
-78.29 |
|
Creditor days |
23.12 |
155 |
9.06 |
-47.11 |
17.13 |
94,00 |
-75.40 |
|
SHORT TERM STABILITY |
|||||||
|
Current ratio |
2.91 |
-14.41 |
3.40 |
3.03 |
3.30 |
514,00 |
145 |
|
Liquidity ratio / acid ratio |
1.02 |
-3.77 |
1.06 |
-8.62 |
1.16 |
514,00 |
-99 |
|
Current debt ratio |
0.42 |
27.27 |
0.33 |
0 |
0.33 |
-2,00 |
21.00 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
14.51 |
24.12 |
11.69 |
28.74 |
9.08 |
-300,00 |
4.84 |
|
Equity in percentage |
69.33 |
-6.30 |
73.99 |
0.67 |
73.50 |
2,00 |
3366 |
|
Total debt ratio |
0.44 |
25.71 |
0.35 |
-2.78 |
0.36 |
-2,00 |
22.00 |
Industry comparison
|
Activity code |
24100 |
|
Activity description |
Manufacture of basic iron and
steel and of ferro-alloys (ECSC)* |
Payment
expectations
|
|
|
Payment expectation days |
23.12 |
|
Day sales outstanding |
38.65 |
|
Industry comparison |
|
|
Activity code |
24100 |
|
Activity description |
Manufacture of basic iron and
steel and of ferro-alloys (ECSC)* |
|
Industry average payment
expectation days |
82.55 |
|
Industry average day sales
outstanding |
211.91 |
Industry
quartile analysis
|
|
|
Payment expectations |
|
|
Company result |
23.12 |
|
Lower |
106.13 |
|
Median |
72.04 |
|
Upper |
40.35 |
|
Day sales outstanding |
|
|
Company result |
38.65 |
|
Lower |
83.17 |
|
Median |
46.69 |
|
Upper |
26.31 |
Shareholder Details
|
Summary |
|
|
Group - Number of Companies |
0 |
|
Linkages - Number of Companies |
0 |
|
Number of Countries |
0 |
Group
Structure
|
No group structure for this
company. |
Minority
Shareholders
|
No minority shareholders found |
Minority
Interests
|
No minority interests found |
Linked
Companies
|
Summary |
|
|
Group - Number of Companies |
0 |
|
Linkages - Number of Companies |
0 |
|
Number of Countries |
0 |
Court data
|
NSSO details |
|
|
Business number |
405375371 |
Bankruptcy
details
|
There is no bankruptcy data
against this company |
Bankruptcy Data
|
Court Data |
|
|
there is no data for this company |
Director
details
|
Current director details |
|
|
Name |
PIERRE VAN LERBERGHE |
|
Position |
Director |
|
Start Date |
30/09/2013 |
|
End Date |
06/05/2019 |
|
Street |
21 BURGEMEESTER PYCKESTRAAT
KORTRIJK |
|
Post code |
8500 |
|
Country |
Belgium |
|
|
|
|
Name |
MVL-INVEST BVBA |
|
Position |
Director |
|
Start Date |
30/09/2013 |
|
End Date |
06/05/2019 |
|
Date of birth |
01/02/2006 |
|
Street |
9 ELLEBOOGSTRAAT KORTRIJK |
|
Post code |
8500 |
|
Country |
Belgium |
|
|
|
|
Name |
JEAN VAN LERBERGHE |
|
Position |
Director |
|
Start Date |
30/12/2009 |
|
End Date |
06/05/2019 |
|
Country |
Greece |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
UK Pound |
1 |
Rs.103.26 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.