MIRA INFORM REPORT

 

 

Report Date :

08.10.2014

 

IDENTIFICATION DETAILS

 

Name :

DOMETIC SARL

 

 

Registered Office :

17, Op Der Hei, 9809 Hosingen

 

 

Country :

Luxembourg

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

20.02.1967

 

 

Com. Reg. No.:

B 91.535

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture of Electric Domestic Appliances.

 

 

No of Employees :

156

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Luxembourg

A2

A1

 

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, automobile components, and other products. Growth in the financial sector, which now accounts for about 36% 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

Summary

 

Company name

DOMETIC SARL

Operative address

17, Op Der Hei
9809 Hosingen
Luxembourg

 

Status

Active

 

Legal form

Private limited liability company - SARL

Registration number

Trade register number: B 91.535 (Luxembourg)

VAT-number

LU10518071

 

 

 

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

4.974.405

 -8,57

5.440.830

 -10,27

6.063.424

Total receivables

3.631.444

 -14,77

4.260.753

 -37,96

6.868.093

Total equity

10.747.878

 73,90

6.180.324

 -87,95

51.304.806

Short term liabilities

5.088.552

 -32,85

7.577.351

 8,29

6.997.415

Net result

4.594.847

 -6,53

4.915.740

 -7,65

5.322.871

Working capital

8.123.074

 245,95

2.348.072

 -94,94

46.389.196

Quick ratio

2,12

 105,83

1,03

 -85,91

7,31

 

 

 

 

 

 

http://kredietinformatie.isnl.nl/cache/ci-report-149149/SUMMARY-01.png

 

Contact information

 

Company name

DOMETIC SARL

 

Operative address

17, Op Der Hei
9809 Hosingen
Luxembourg

Correspondence address

17, Op Der Hei
9809 Hosingen
Luxembourg

 

Telephone number

+352 920731

Fax number

+352 920731300

Website, email

www.dometic.lu, info@dometic.lu

 

 

Registration

 

Registration number

Trade register number: B 91.535 (Luxembourg)

VAT-number

LU10518071

 

Status

Active

Establishment date

1967-02-20

 

Legal form

Private limited liability company - SARL

 

Subscribed share capital

EUR 2.500.000

 

 

Activities

 

NACE

Manufacture of electric domestic appliances (2751)

Relations

Shareholders

SHAREHOLDERS
Name: DOMETIC LUXEMBOURG SARL
National id number: B 166.303 (Luxembourg)
Address: 17, Op der Hei
Zipcode: 9809
City: HOSINGEN
Country: LU
Phone: +352 9207311
Fax: +352 920731300
Type: Industrial company
Share direct: 100.00%
Turnover: 0 mil. USD
Total assets: 31.35 mil. USD
Profit loss before tax: -5.42115 mil. USD
Profit loss after tax net income: -5.42115 mil. USD
Shareholders funds: -0.72528 mil. USD
Number of employees: 0

Management

Robert Sieffermann, 16 Allée des Fleurs, L-9227 Diekirch, Luxembourg

 

 

Employees

 

Year

2012

2011

2010

2009

2008

Total

156

182

192

200

216

http://kredietinformatie.isnl.nl/cache/ci-report-149149/employees-01.png

 

Financial analysis

 

Trend

Fluctuating

Profitability

More than sufficient

Solvability

Sufficient

Liquidity

Positive

Show amount in

Euro

 

 

Key figures

 

Year

2012

2011

2010

2009

2008

Quick ratio

2,12

1,03

7,31

7,59

6,15

Current ratio

2,60

1,31

7,63

7,93

6,53

Working capital/ balance total

0,45

0,15

0,78

0,76

0,71

Equity / balance total

0,59

0,40

0,86

0,86

0,83

Equity / Fixed assets

2,16

1,14

8,46

6,88

5,14

Working capital

8.123.074

2.348.072

46.389.196

40.688.786

32.793.749

Equity

10.747.878

6.180.324

51.304.806

46.035.357

38.279.312

Mutation equity

73,90

-87,95

11,45

20,26

Mutation short term liabilities

-32,85

8,29

19,10

-0,97

Return on total assets (ROA)

26,41

34,08

9,00

15,07

18,20

Return on equity (ROE)

44,69

84,73

10,43

17,44

21,96

Gross profit margin

14,67

14,33

15,21

21,54

21,34

Net profit margin

13,40

14,12

14,96

20,67

20,83

Average collection ratio

6,74

4,60

5,08

6,45

6,67

Average payment ratio

9,44

8,17

5,18

7,02

6,30

Equity turnover ratio

3,19

5,63

0,69

0,82

1,03

Total assets turnover ratio

1,89

2,27

0,60

0,71

0,86

Fixed assets turnover ratio

6,89

6,40

5,87

5,66

5,32

Inventory conversion ratio

14,26

16,28

15,76

19,04

17,66

Turnover

34.295.601

34.820.427

35.568.867

37.867.589

39.598.282

Operating result

5.032.603

4.990.907

5.408.293

8.157.015

8.451.056

Net result after taxes

4.594.847

4.915.740

5.322.871

7.828.201

8.249.748

Cashflow

5.274.945

5.789.785

6.290.388

8.915.787

9.358.893

Gross profit

15.725.560

16.352.384

16.485.558

19.378.118

19.472.680

EBITDA

5.712.701

5.864.952

6.375.810

9.244.601

9.560.201

 

 

 

 

 

 

 

Summary

The 2012 financial result structure is a postive working captial of 8.123.074 euro, which is in agreement with 45 % of the total assets of the company.
The working capital has increased with 245.95 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2011 and 2012 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2012 was 2.6. 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 2.12. 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 2.348.072 euro, which is in agreement with 15 % of the total assets of the company.
The working capital has diminished with -94.94 % 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 1.31. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2011 of the company was 1.03. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

http://kredietinformatie.isnl.nl/cache/ci-report-149149/KEYFIGURES-01.png

http://kredietinformatie.isnl.nl/cache/ci-report-149149/KEYFIGURES-02.png

 

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

DOMETIC SARL
17, Op Der Hei
9809 Hosingen
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

4.974.405

5.440.830

6.063.424

6.690.540

7.449.339

Fixed assets

4.974.405

5.440.830

6.063.424

6.690.540

7.449.339

Total stock

2.405.099

2.138.683

2.256.959

1.988.556

2.242.518

Total receivables

3.631.444

4.260.753

6.868.093

5.395.585

6.281.004

Liquid funds

2.569.102

1.316.616

1.687.904

3.380.938

2.174.980

Other current assets

4.605.981

2.209.372

42.573.655

35.799.146

28.027.980

Current assets

13.211.626

9.925.423

53.386.611

46.564.225

38.726.482

Total assets

18.186.031

15.366.254

59.450.035

53.254.765

46.175.821

Total equity

10.747.878

6.180.324

51.304.806

46.035.357

38.279.312

Provisions

1.729.821

1.042.703

1.147.814

1.343.969

1.328.471

Long term liabilities

619.781

565.877

635.305

Accounts payable

1.622.119

1.666.028

2.317.600

2.502.609

2.823.721

Liabilities towards credit institutes

1.230

6.836

3.352

2.369

2.253

Other short term liabilities

3.465.203

5.904.487

4.676.463

3.370.461

3.106.759

Short term liabilities

5.088.552

7.577.351

6.997.415

5.875.439

5.932.733

Total liabilities

18.186.031

15.366.254

59.450.035

53.254.765

46.175.821

 

 

 

 

 

 

 

Summary

The total assets of the company increased with 18.35 % between 2011 and 2012.
Despite the assets growth, the non current assets decreased with -8.57 %.
In 2012 the assets of the company were 27.35 % composed of fixed assets and 72.65 % by current assets. The assets are being financed by an equity of 59.1 %, and total debt of 40.9 %.

The total assets of the company decreased with -74.15 % between 2010 and 2011.
This total assets decrease has been reflected in a reduction of non current assets of -10.27 %.
In 2011 the assets of the company were 35.41 % composed of fixed assets and 64.59 % by current assets. The assets are being financed by an equity of 40.22 %, and total debt of 59.78 %.

http://kredietinformatie.isnl.nl/cache/ci-report-149149/balance-sheets-01.png

http://kredietinformatie.isnl.nl/cache/ci-report-149149/balance-sheets-02.png

 

Profit and loss

 

Year

2012

2011

2010

2009

2008

Revenues

33.791.932

34.660.609

34.853.709

37.018.195

39.717.447

Net turnover

34.295.601

34.820.427

35.568.867

37.867.589

39.598.282

Wages and salaries

9.946.204

10.015.386

9.974.471

10.098.133

9.814.869

Amorization and depreciation

680.098

874.045

967.517

1.087.586

1.109.145

Production costs

13.869.851

14.313.168

14.047.025

13.622.278

14.382.121

Operating result

5.032.603

4.990.907

5.408.293

8.157.015

8.451.056

Financial income

66.654

472.046

135.277

35.384

97.610

Financial expenses

296.419

226.576

194.678

165.197

142.658

Financial result

-229.765

245.470

-59.401

-129.813

-45.048

Result on ordinary operations before taxes

4.802.838

5.236.377

5.348.892

8.027.202

8.406.008

Taxation on the result of ordinary activities

207.992

320.637

26.021

199.001

156.260

Result of ordinary activities after taxes

4.594.846

4.915.740

5.322.871

7.828.201

8.249.748

Net result

4.594.847

4.915.740

5.322.871

7.828.201

8.249.748

 

 

 

 

 

 

 

Summary

The turnover of the company decreased by -1.51 % between 2011 and 2012.
The operating result of the company in 2011 is equal to the result in 2012. This evolution implies an unchanged economic profitability of the company.
The result of these changes is a reduction of the company's Economic Profitability of -22.51 % of the analysed period, being equal to 2011 % in the year 2012.
This fall has contributed to a asset turnover decrease, whose index evolved from -16.74 to a level of 1.89.
The Net Result of the company increased by -6.53 % 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 -47.26 % of the analysed period, being 44.69 % in the year 2012.
The company's financial profitability has been positively affected by its financial structure.

The turnover of the company decreased by -2.1 % between 2010 and 2011.
The operating result of the company declined with -7.72 % between 2010 and 2011. This evolution implies an decrease of the company's economic profitability.
The result of these changes is an increase of the company's Economic Profitability of 278.67 % of the analysed period, being equal to 2010 % in the year 2011.
This growth has contributed to the increase in assets turnover, increasing by 278.33 % reaching 2.27.
The Net Result of the company increased by -7.65 % between 2010 and 2011.
The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of 712.37 % of the analysed period, being 84.73 % in the year 2011.
The company's financial structure has slowed down its financial profitability.

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http://kredietinformatie.isnl.nl/cache/ci-report-149149/PL-02.png

 

Bankers

 

BGL BNP Paribas
1855 LUXEMBOURG

BIL Banque Internationale à Luxembourg S.A.
1470 Luxembourg

Banque et Caisse d'Epargne de l'Etat, Luxembourg
1930 LUXEMBOURG

 

 

Publications

 

Remarks

Status: Active
Category: Large company
Last year: 2012
Turnover last year: 34.295.601 EUR
Result last year: 4.594.847 EUR
TOTAL assets last year: 18.186.031 EUR
Number of employees: 156
Number of shareholders: 2
Number of subsidiaries: 0
Number of branches: 0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.35

UK Pound

1

Rs.98.71

Euro

1

Rs.77.47

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

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.