|
Report No. : |
334012 |
|
Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GE SENSING EMEA |
|
|
|
|
Registered Office : |
Sensing House, Shannon Free Zone East, Shannon, 607024 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.10.2005 |
|
|
|
|
Legal Form : |
Private unlimited with Share Capital |
|
|
|
|
Line of Business : |
Subject is manufacture of electricity distribution and control apparatus |
|
|
|
|
No. of Employee : |
146 (2013) |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IRELAND - ECONOMIC
OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland
was among the initial group of 12 EU nations that began circulating the euro on
1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity
dropped sharply during the world financial crisis and the subsequent collapse
of its domestic property market and construction industry. Faced with sharply
reduced revenues and a burgeoning budget deficit from efforts to stabilize its
fragile banking sector, the Irish Government introduced the first in a series
of draconian budgets in 2009. These measures were not sufficient to stabilize
Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP -
the world's largest deficit, as a percentage of GDP. In late 2010, the former
COWEN government agreed to a $92 billion loan package from the EU and IMF to
help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its
sovereign debt. In March 2011, the KENNY government intensified austerity
measures to meet the deficit targets under Ireland's EU-IMF bailout program. In
late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from
its strict adherence to deficit-reduction targets and success in refinancing a
large amount of banking-related debt. In 2014, the economy rapidly picked up
and GDP grew by 3.6%. The recovering economy assisted lowering the deficit to
4.2% of GDP. In late 2014, the government introduced a fiscally neutral budget,
marking the end of the austerity program. In the wake of the collapse of the
construction sector and the downturn in consumer spending and business
investment, the export sector, dominated by foreign multinationals, has become
an even more important component of Ireland's economy. Ireland’s low
corporation tax of 12.5% has been central to encouraging business investment.
Loose tax residency requirements made Ireland a common destination for
international firms seeking to avoid taxation. Amid growing international
pressure the government announced it would phase in more stringent tax laws,
effectively closing a loophole.
|
Source
: CIA |
GE SENSING EMEA
|
SENSING HOUSE |
|
SHANNON FREE ZONE EAST |
|
SHANNON |
|
607024 |
Company
Summary
|
|
||
|
Registered Address |
SENSING HOUSE |
Trading Address |
BAY 148 SHANNON INDUSTRIAL |
|
|
SHANNON FREE ZONE EAST |
|
ESTATE |
|
|
SHANNON |
|
SHANNON |
|
|
607024 |
|
COUNTY CLARE |
|
|
|
|
COUNTY CLARE |
|
|
|
|
607024 |
|
Website Address |
- |
|
|
|
Telephone Number |
|
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
28/10/2005 |
|
|
|
Previous Name |
|
Type |
Private unlimited with Share |
|
|
|
|
Capital |
|
|
|
FTSE Index |
- |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
Currency |
EUR |
Share Capital |
€100 |
|
SIC07 |
27120 |
Charity Number |
- |
|
SIC07 Description |
MANUFACTURE OF ELECTRICITY DISTRIBUTION AND
CONTROL APPARATUS |
||
|
Principal Activity |
The manufacture and sale of
sensing equipment. |
||
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
31/12/2013 |
€53,551,925 |
€7,800,340 |
€21,754,133 |
146 |
|
31/12/2012 |
€57,724,598 |
€346,675 |
€15,669,187 |
131 |
|
31/12/2011 |
€50,292,056 |
-€4,182,256 |
€418,898 |
121 |
Mortgage
Summary
|
|
|
|
|
|
Total Mortgage |
0 |
|
Outstanding |
0 |
|
Satisfied |
0 |
Trade
Debtors / Bad Debt Summary
|
|
|
|
|
|
Total Number of
Documented Trade |
0 |
|
Total Value of
Documented Trade |
€0 |
No exact match CCJs are recorded
against the company. Net Worth increased by
36.8% during the latest trading period. A
2.2% growth in Total Assets occurred
during the latest trading period. Pre-tax
profits increased by 999.9% compared to
the previous trading period. The audit
report contains no adverse comments.
|
Total Number of
Exact CJs - |
0 |
Total Value of
Exact CJs - |
€0 |
|
Total Number of
Possible CJs - |
0 |
Total Value of
Possible CJs - |
€0 |
|
Total Number of
Satisfied CJs - |
0 |
Total Value of
Satisfied CJs - |
€0 |
|
Total Current Directors |
4 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company |
|
|
Secretaries |
6 |
|
|
|
Current
Directors
|
|
||
|
Name |
JOHN PAUL SHEAHAN |
Date of Birth |
03/01/1964 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
27/10/2006 |
|
|
|
Address |
67 FAIRYFIELD, PARTEEN, CO CLARE |
|
|
|
Name |
JAMES DONALD GIBSON |
Date of Birth |
22/10/1958 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
28/10/2005 |
|
|
|
Address |
LE GAZON, FEENAGH, SIX MILE
BRIDGE, COUNTY CLARE |
|
|
|
Name |
COLUM CARR |
Date of Birth |
12/12/1965 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
8 |
Function |
Director |
|
Appointment Date |
17/06/2008 |
|
|
|
Address |
PARK HOUSE, CASTLECONNELL, CO.LIMERICK |
|
|
|
Name |
COLIN HEHIR |
Date of Birth |
09/12/1976 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
18/06/2014 |
|
|
|
Address |
MOOGHOUN, NEWMARKET-ON-FERGUS, CO CLARE |
|
|
Current
Company Secretary
|
|||
|
Name |
COLUM CARR |
Date of Birth |
- |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
30/06/2012 |
|
|
|
Address |
|
PARK HOUSE, CASTLECONNELL, CO. LIMERICK |
|
Top
20 Shareholders
|
|||||
|
Name |
|
|
Currency
Share Count Share
Type Nominal Value |
|
% of Total Share Count |
|
GENERAL ELECTRIC IRELAND HOLDINGS LTD |
EUR |
99 |
ORDINARY |
1 |
99 |
|
GE HOLDINGS LUXEMBOURG & CO SARL |
EUR |
1 |
ORDINARY |
1 |
1 |
|
Date Of |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
A/cs |
|
|
|
|
|
|
|
|
|
|
Turnover |
€53,551,925 |
-7.2% |
€57,724,598 |
14.8% |
€50,292,056 |
6.2% |
€47,341,764 |
13.4% |
€41,737,103 |
|
Export |
- |
- |
- |
- |
€50,041,335 |
6% |
€47,197,178 |
- |
- |
|
Cost of Sales |
€28,010,297 |
-21.2% |
€35,525,359 |
5.9% |
€33,536,996 |
4.6% |
€32,058,535 |
26.7% |
€25,294,049 |
|
Gross Profit |
€25,541,628 |
15.1% |
€22,199,239 |
32.5% |
€16,755,060 |
9.6% |
€15,283,229 |
-7.1% |
€16,443,054 |
|
Wages & |
€8,545,738 |
14.8% |
€7,440,987 |
13.8% |
€6,537,395 |
3% |
€6,347,687 |
-9.8% |
€7,033,570 |
|
Salaries |
|
|
|
|
|
|
|
|
|
|
Directors |
|
|
|
|
|
|
|
|
|
|
Emoluments |
€498,320 |
7.1% |
€465,415 |
7.3% |
€433,603 |
-0.2% |
€434,300 |
-3.7% |
€451,185 |
|
Operating
Profit |
€8,207,501 |
43.5% |
€5,718,965 |
229.9% |
€1,733,483 |
151.6% |
€688,871 |
75.4% |
€392,683 |
|
Depreciation |
€334,580 |
-33.6% |
€503,883 |
-39.8% |
€837,562 |
5.5% |
€794,022 |
0.5% |
€790,020 |
|
Audit Fees |
€59,295 |
-3.1% |
€61,202 |
- |
€61,202 |
- |
€61,202 |
-1.7% |
€62,250 |
|
Interest |
€2,936,402 |
-45.5% |
€5,388,012 |
-8.9% |
€5,915,739 |
-2.3% |
€6,056,361 |
0.9% |
€6,004,954 |
|
Payments |
|
|
|
|
|
|
|
|
|
|
Pre
Tax Profit |
€7,800,340 |
999.9% |
€346,675 |
108.3% |
-€4,182,256 |
22.1% |
-€5,367,490 |
4.4% |
-€5,612,271 |
|
Taxation |
-€1,715,394 |
-999.9% |
-€96,386 |
-65.3% |
-€58,318 |
-13% |
-€51,588 |
-125.2% |
€204,325 |
|
Profit After Tax |
€6,084,946 |
999.9% |
€250,289 |
105.9% |
-€4,240,574 |
21.7% |
-€5,419,078 |
-0.2% |
-€5,407,946 |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained
Profit |
€6,084,946 |
999.9% |
€250,289 |
105.9% |
-€4,240,574 |
21.7% |
-€5,419,078 |
-0.2% |
-€5,407,946 |
|
Date Of |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Tangible Assets |
€202,998,858 |
0.2% |
€202,669,512 |
-0.1% |
€202,857,331 |
-0.2% |
€203,202,501 |
0.1% |
€203,058,210 |
|
Intangible |
€41,828,728 |
-11.8% |
€47,422,214 |
-9.4% |
€52,359,073 |
-8.6% |
€57,278,090 |
-8.9% |
€62,905,717 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Total Fixed |
€244,827,586 |
-2.1% |
€250,091,726 |
-2% |
€255,216,404 |
-2% |
€260,480,591 |
-2.1% |
€265,963,927 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Stock |
€6,428,889 |
3.3% |
€6,222,648 |
5.7% |
€5,889,201 |
26.4% |
€4,657,834 |
0% |
€4,655,645 |
|
Trade Debtors |
€3,530,939 |
-1.5% |
€3,584,151 |
-13.5% |
€4,143,333 |
130.2% |
€1,800,254 |
25.2% |
€1,437,888 |
|
Cash |
0 |
-100% |
€71,541 |
-76.8% |
€307,940 |
-74.3% |
€1,200,275 |
617.7% |
€167,243 |
|
Other Debtors |
€19,834,475 |
126.9% |
€8,740,985 |
-61.3% |
€22,590,246 |
6.1% |
€21,299,547 |
37.7% |
€15,473,499 |
|
Miscellaneous Current
Assets |
0 |
- |
0 |
-100% |
€166,083 |
- |
0 |
- |
0 |
|
Total
Current Assets |
€29,794,303 |
60% |
€18,619,325 |
-43.7% |
€33,096,803 |
14.3% |
€28,957,910 |
33.2% |
€21,734,275 |
|
Trade Creditors |
€678,460 |
-57.9% |
€1,612,994 |
-49% |
€3,161,776 |
71.8% |
€1,840,415 |
57.5% |
€1,168,555 |
|
Bank
Loans & Overdrafts |
€7,294 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Short Term Finance |
€7,701,440 |
4.5% |
€7,371,396 |
-91.1% |
€82,809,245 |
864.5% |
€8,585,649 |
-95.7% |
€199,010,684 |
|
Miscellaneous Current Liabilities |
€4,480,562 |
10.4% |
€4,057,474 |
-41.4% |
€6,923,288 |
59% |
€4,352,965 |
78.4% |
€2,440,413 |
|
Total
Current Liabilities |
€12,867,756 |
-1.3% |
€13,041,864 |
-86% |
€92,894,309 |
528.6% |
€14,779,029 |
-92.7% |
€202,619,652 |
|
Bank Loans & Overdrafts and LTL |
€240,007,294 |
0% |
€240,000,000 |
23.1% |
€195,000,000 |
-27.8% |
€270,000,000 |
260% |
€75,000,000 |
|
Other Long Term Finance |
€240,000,000 |
- |
€240,000,000 |
23.1% |
€195,000,000 |
-27.8% |
€270,000,000 |
260% |
€75,000,000 |
|
Total
Long Term Liabilities |
€240,000,000 |
- |
€240,000,000 |
23.1% |
€195,000,000 |
-27.8% |
€270,000,000 |
260% |
€75,000,000 |
|
Date Of |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Called Up Share Capital |
€100 |
- |
€100 |
- |
€100 |
- |
€100 |
- |
€100 |
|
P & L Account Reserve |
-€17,720,867
25.6% |
-€23,805,813 |
1% |
-€24,056,102 |
-21.4% |
-€19,815,528 |
-37.6% |
-€14,396,450 |
|
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
€39,474,900 |
- |
€39,474,900 |
61.3% |
€24,474,900 |
- |
€24,474,900 |
- |
€24,474,900 |
|
Shareholder Funds |
€21,754,133 |
38.8% |
€15,669,187 |
999.9% |
€418,898 |
-91% |
€4,659,472 |
-53.8% |
|
|
Date Of |
|
|
|
|
|
|
|
|
|
|
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Worth |
-€20,074,595 |
36.8% |
-€31,753,027 |
38.9% |
-€51,940,175 |
1.3% |
-€52,618,618 |
0.4% |
-€52,827,167 |
|
Working Capital |
€16,926,547 203.5% |
|
€5,577,461 |
109.3% |
-€59,797,506 -521.7% |
|
€14,178,881 |
107.8% |
-€180,885,377 |
|
Total Assets |
€274,621,889 |
2.2% |
€268,711,051 |
-6.8% |
€288,313,207 |
-0.4% |
€289,438,501 |
0.6% |
€287,698,202 |
|
Total Liabilities |
€252,867,756 |
-0.1% |
€253,041,864 |
-12.1% |
€287,894,309 |
1.1% |
€284,779,029 |
2.6% |
€277,619,652 |
|
Net Assets |
€21,754,133 |
38.8% |
€15,669,187 |
999.9% |
€418,898 |
-91% |
€4,659,472 |
-53.8% |
€10,078,550 |
|
Date Of |
|
|
|
|
|
|
|
|
|
|
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Contingent Liability |
YES |
- |
YES |
- |
YES |
- |
YES |
- |
YES |
|
Capital Employed |
€261,754,133 |
2.4% |
€255,669,187
|
30.8% |
€195,418,898 |
-28.9% |
€274,659,472 |
222.8% |
€85,078,550 |
|
Number of Employees |
146 |
11.5% |
131 |
8.3% |
121 |
12% |
108 |
1.9% |
106 |
Accountants
|
Auditors |
KPMG |
|
Auditor |
The audit report contains no
adverse comments |
|
Comments |
|
|
Bankers |
DANSKE BANK |
Bank
Branch
Code
|
Date Of Accounts |
31/12/13 |
31/12/12 |
31/12/11 |
31/12/10 |
31/12/09 |
|
Pre-tax
profit margin % |
14.57 |
0.60 |
-8.32 |
-11.34 |
-13.45 |
|
Current ratio |
2.32 |
1.43 |
0.36 |
1.96 |
0.11 |
|
Sales/Net
Working Capital |
3.16 |
10.35 |
-0.84 |
3.34 |
-0.23 |
|
Gearing % |
1103.30 |
1531.70 |
46550.70 |
5794.60 |
744.20 |
|
Equity in % |
9.30 |
7.10 |
0.20 |
2 |
4.50 |
|
Creditor Days |
4.61 |
10.17 |
22.88 |
14.15 |
10.19 |
|
Debtor Days |
24 |
22.60 |
29.98 |
13.84 |
12.54 |
|
Liquidity/Acid
Test |
1.81 |
0.95 |
0.29 |
1.64 |
0.08 |
|
Return On |
|
|
|
|
|
|
Capital Employed % |
2.98 |
0.13 |
-2.14 |
-1.95 |
-6.59 |
|
Return On Total |
|
|
|
|
|
|
Assets Employed % |
2.84 |
0.12 |
-1.45 |
-1.85 |
-1.95 |
|
Current
Debt Ratio |
0.59 |
0.83 |
221.75 |
3.17 |
20.10 |
|
Total Debt Ratio |
11.62 |
16.14 |
687.26 |
61.11 |
27.54 |
|
Stock
Turnover Ratio % |
12 |
10.77 |
11.71 |
9.83 |
11.15 |
|
Return on Net |
|
|
|
|
|
|
Assets Employed % |
35.85 |
2.21 |
-998.39 |
-115.19 |
-55.68 |
Report Notes
There are no notes to display.
Status History
No Status History found
Previous Company Names
No Previous Names found
Received Documents Writ Details
No writs found
|
Statistics |
|
Summary |
|
|
Group |
15 companies |
Holding Company |
- |
|
Linkages |
1114 companies |
Ownership Status |
Intermediately Owned |
|
Countries |
In 53 countries |
Ultimate Holding Company |
GENERAL ELECTRIC CO |
Group
Structure
|
||||
|
|
|
|
|
|
|
Company Name |
Registered |
Latest Key |
Consol. |
Turnover |
|
|
Number |
Financials |
Accounts |
|
|
GENERAL ELECTRIC CO |
|
- |
- |
$46,045,000,000 |
|
ALTAIR FILTER TECHNOLO... |
04543176 |
31.12.2013 |
N |
|
|
GE ENERGY SERVICES (... |
02330098 |
31.12.2013 |
N |
|
|
ALTAIR FILTER TECH... |
00880172 |
31.12.2014 |
N |
|
|
GE INSPECTION TEC... |
03645466 |
31.12.2013 |
N |
£12,222,000 |
|
BENCHMARK INVESTMENT P... |
05161321 |
31.12.2014 |
N |
|
|
BENCHMARK INVESTMENT... |
05161297 |
31.12.2012 |
|
|
|
DRESSER HOLDINGS, LLC |
|
- |
- |
|
|
HARBISON-WALKER REFR... |
|
- |
- |
$558,000 |
|
GE CAPITAL AVIATION SE... |
|
- |
- |
$5,490,000 |
|
GE CAPITAL AVIATION... |
IE205625 |
31.12.2014 |
N |
€243,558,649 |
|
CELESTIAL AVIATION... |
IE398006 |
31.12.2014 |
N |
€44,744,645 |
|
CELESTIAL AVIATION... |
IE398009 |
31.12.2014 |
N |
€33,189,599 |
|
CELESTIAL AVIATION... |
IE398572 |
31.12.2014 |
N |
€35,199,442 |
|
CELESTIAL AVIATION... |
IE393504 |
31.12.2014 |
N |
€40,232,464 |
|
|
Business Owner Links |
|
|
|
|
Business Name |
Business No |
Business Status. |
|
|
GE SENSING EMEA |
IE410117 |
|
|
|
PANAMETRICS |
291043 |
NORMAL |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.