MIRA INFORM REPORT

 

 

Report No. :

341702

Report Date :

01.10.2015

 

IDENTIFICATION DETAILS

 

Name :

MICROSOFT IRELAND OPERATIONS LIMITED

 

 

Registered Office :

70 Sir John Rogerson’s Quay Dublin 2 216410

 

 

Country :

Ireland

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

15.11.1996

 

 

Com. Reg. No.:

IE256796

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacture of Computers and Peripheral Equipment

 

 

No. of Employees :

735 (2014)

 

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Ireland

A2

A2

 

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

 

 

 

Company Name

 

MICROSOFT IRELAND OPERATIONS LIMITED

 

70SIR    JOHN    ROGERSON'S    QUAY

DUBLIN 2 216410

 

 

Company No

 

IE256796

 

 

Company Status

 

Active    -    Accounts    Filed

 

 

Company Summary

 

Registered  Address

70 SIR  JOHN  ROGERSON'S

Trading  Address

70 SIR  JOHN  ROGERSON'S

 

QUAY

 

QUAY

 

DUBLIN  2

 

DUBLIN  2

 

216410

 

DUBLIN  2

 

 

 

216410

Website  Address

-

 

 

Telephone  Number

 

Fax  Number

 

TPS

No

FPS

No

Incorporation  Date

15/11/1996

 

 

Previous  Name

SAGEACRE  LIMITED

Type

Other

 

 

FTSE  Index

-

Date  of  Change

-

Filing  Date  of  Accounts

-

Currency

EUR

Share  Capital

€425,450

SIC07

26200

Charity  Number

-

SIC07  Description

MANUFACTURE  OF  COMPUTERS  AND  PERIPHERAL  EQUIPMENT

Principal  Activity

Marketing,  sale  and  distribution  of  software  products.  Accounts  data  converted  from  US  Dollar.

 

 

 

Key Financials

 

Year  to  Date

Turnover

Pre  Tax  Profit

Shareholder

Funds  Employees

30/06/2014

€18,396,901,633

€1,194,189,486

€1,682,969,748

735

30/06/2013

€15,001,238,000

€771,682,000

€607,948,000

70

30/06/2012

€13,712,397,000

€1,011,104,000

€431,492,000

668

 

 

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

 

 

Commentary

 

No  exact  match  CCJs  are  recorded  against  the  company.

Sales  in  the  latest  trading  period  increased  22.6%  on  the  previous  trading  period. Net  Worth  increased  by  176.8%  during  the  latest  trading  period. A  32.3%  growth  in  Total  Assets  occurred  during  the  latest  trading  period. Pre-tax  profits  increased  by  54.8%  compared  to  the  previous  trading  period.

 

 

CJ

 

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

 

 

24

Secretaries

 

 

 

Current  Directors

 

Name

BENJAMIN  OWEN  ORNDORFF   

Date  of  Birth

07/09/1971

Officers  Title

 

Nationality

 

Present  Appointments

15

Function

Director

Appointment  Date

04/11/2005

 

 

Address

9333 SE  47TH  STREET,  MERCER  ISLAND,  WA  98040,  USA.

 

Name

KEITH  RANGER  DOLLIVER

Date  of  Birth

12/01/1963

Officers  Title

 

Nationality

 

Present  Appointments

11

Function

Director

Appointment  Date

19/12/2006

 

 

Address

24615 SE  44TH  COURT,  ISSAQUAH  WA  98029.,  UNITED  STATES

 

Name

TRACY  CHARLES  NEIGHBORS   Date  of  Birth

 

19/08/1960

Officers  Title

 

Nationality

 

Present  Appointments

4

Function

Director

Appointment  Date

20/10/2008

 

 

Address

24718 NE  24TH  STREET,  SAMMAMISH,  WA  98074,  USA

 

Name

JAMES  O'CONNOR

Date  of  Birth

26/05/1968

Officers  Title

 

Nationality

 

Present  Appointments

10

Function

Director

Appointment  Date

24/10/2014

 

 

Address

7 GLENART  AVENUE,  BLACKROCK,  CO.  DUBLIN

 

 

 

Current  Company  Secretary

 

Name

MATSACK  TRUST  LIMITED

Date  of  Birth

11/11/1969

Officers  Title

 

Nationality

 

Present  Appointments

1761

Function

Company  Secretary

Appointment  Date

06/03/1998

 

 

Address

 

 

 

 

 

Top 20 Shareholders

 

Name

Currency

Share  Count

Share Type

Nominal  Value

% of  Total  Share  Count

MICROSOFT  IRELAND  RESEARCH

EUR

335,000

ORDINARY

1.27

100

 

 

Profit  &  Loss

 

Date  Of

 

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

EUR

(%)

EUR

(%)

EUR

(%)

EUR

(%)

EUR

Consolidated

 

 

 

 

 

 

 

 

 

 

N

(%)

N

(%)

N

(%)

N

(%)

N

A/cs

 

 

 

 

 

 

 

 

 

 

 

Turnover

€18,396,901,633 

22.6%€

15,001,238,000

9.4%

€13,712,397,000

2.6%€

13,367,099,000 

17.8%

€11,345,964,000

Export

€18,221,370,582

22.5%

€14,879,495,000

30.4%

€11,409,269,000

-13.7%

€13,216,002,000

17.8%

€11,216,558,000

Cost  of  Sales

€2,335,098,261

37.4% 

€1,699,190,000

23% 

€1,381,086,000

19.6%

€1,154,321,000

49.7%

€770,866,000

Gross  Profit

€16,061,803,373

20.7%

€13,302,048,000

7.9%

€12,331,311,000

1%

€12,212,778,000

15.5%

€10,575,098,000

 

 

 

 

 

 

 

 

 

 

Wages  & Salaries

 

€113,907,374

18%

€96,520,000

8.1%

€89,294,000

8.6%

€82,240,000

0.7%

€81,670,000

Directors Emoluments

€237,661

16.5%

€204,000

4.6%

€195,000

30%

€150,000

9.5%

€137,000

Operating  Profit

€1,159,939,848 

53.3%

€756,855,000

-23.3%

€986,946,000

77.2%

€556,926,000

-59.9%

€1,387,140,000

Depreciation

€161,988,533

43.7%

€112,749,000

41.8%

€79,501,000

33.1%

€59,747,0005

3.2%

€39,002,000

Audit  Fees

€658,328

-15.7%

€781,000

14.7%

€681,000

-

€681,000 

-0.4%

€684,000

Interest Payments

-

-

-

-

-

-

-

-

-

Pre  Tax  Profit

€1,194,189,48

6  54.8%

€771,682,00

 -23.7%

€1,011,104,000

70.5%

€593,015,000

-58.5%

€1,428,816,000

Taxation

-€168,872,412

-70.7%

-€98,918,000

25.3%

-€132,426,000

-73.1%

-€76,484,00

049.1%

-€150,251,000

Profit  After  Tax

€1,025,317,07

4 52.4%

€672,764,000

-23.4%

€878,678,000

70.1%

€516,531,000

-59.6%

€1,278,565,000

Dividends

Payable

-

-100%

€502,404,000

-89.8% 

€4,949,620,000

-

-

-100%

€45,169,000

Retained  Profit

€1,025,317,0745

01.9%

€170,360,0001

04.2%

-€4,070,942,000

-888.1%

€516,531,000

-58.1%

€1,233,396,000

 

 

Balance  Sheet

 

Date  Of Accounts

 

30/06/2014

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Tangible  Assets

€856,196,237 

46.9%

€582,747,000

25%

€466,087,000 

22.7%

€379,942,000 

31.1%

€289,919,000

Intangible

Assets

0

-

0

-

0

-

0

-

0

Total  Fixed Assets

€856,196,237

46.9%

€582,747,000

25%

€466,087,000

22.7%

€379,942,000

31.1%

€289,919,000

Stock

€265,548,9

71  17.7%

€225,663,000

14.6%

€196,885,000

-25.9%

€265,608,000 

74.5%

€152,231,000

Trade  Debtors

€3,722,135,733

5.4%

€3,530,240,000

3.9%

€3,397,262,000 

20.4%

€2,821,427,000

5.3% 

€2,680,268,000

Cash

€12,774,055

-47.6%

€24,399,000

52.8%

€15,967,000

-13.8%

€18,526,000

-36.2%

€29,051,000

Other  Debtors

€7,374,192,202

51%

€4,883,516,000

11.2%

€4,390,074,000

-33.3%

€6,581,131,000

-6.8%

€7,060,351,000

Miscellaneous

Current Assets

0

-

0

-

0

-

0

-

0

Total Current

Assets

€11,374,650,962

31.3%

€8,663,818,000

8.3%

€8,000,188,000

-17.4%

€9,686,692,000

-2.4%

€9,921,901,000

Trade Creditors

€59,290,132

35.3%

€43,827,000

171.9%

€16,118,00

-56.1%

€36,737,000

46.6%

€25,051,000

Bank Loans &

Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term

Finance

€2,911,595,192

27.5%

€2,283,554,000

-6.3%

€2,436,395,000

66.9%

€1,459,943,000

-44.9%

€2,650,391,000

Miscellaneous

Current

Liabilities

€7,125,068,317

20.7%

€5,900,778,000

12.9%

€5,227,278,000

21.8%

€4,293,159,000

10.3%

€3,892,460,000

Total Current

Liabilities

€10,095,953,640

22.7%

€8,228,159,000

7.1%

€7,679,791,000

32.6%

€5,789,839,000

-11.8%

€6,567,902,000

Bank Loans &

Overdrafts and

LTL

€451,923,809

10.1%

€410,458,000

15.6%

€354,992,000

7.3%

€330,981,000

49.7%

€221,148,000

Other Long Term

Finance

0

-

0

-

0

-

0

-

0

Total Long Term

Liabilities

€451,923,809

10.1%

€410,458,000

15.6%

€354,992,000

7.3%

€330,981,000

49.7%

€221,148,000

 

 

Capital & Reserves

 

Date Of

Accounts

30/06/2014

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Called Up Share

Capital

€384,232

-9.6%

€425,000

-

€425,000

-

€425,000

-

€425,000

P & L Account

Reserve

€1,622,391,115

190%

€559,537,000

43.8%

€389,177,000

-90%

€3,910,119,000

15.2%

€3,393,588,000

Revaluation

Reserve

-

-

-

-

-

-

-

-

-

Sundry

Reserves

€60,194,401

25.4%

€47,986,000

14.6%

€41,890,000

18.8%

€35,270,000

22.6%

€28,757,000

Shareholder

Funds

€1,682,969,748

176.8%

€607,948,000

40.9%

€431,492,000

-89.1%

€3,945,814,000

15.3%

€3,422,770,000

 

 

Other Financial Items

 

Date Of

Accounts

30/06/2014

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Net Worth

€1,682,969,748

176.8%

€607,948,000

40.9%

€431,492,000

-89.1%

€3,945,814,000

15.3%

€3,422,770,000

Working Capital

€1,278,697,321

193.5%

€435,659,000

36%

€320,397,000

-91.8%

€3,896,853,000

16.2%

€3,353,999,000

Total Assets

€12,230,847,198

32.3%

€9,246,565,000

9.2%

€8,466,275,000

-15.9%

€10,066,634,000

-1.4%

€10,211,820,000

Total Liabilities

€10,547,877,450

22.1%

€8,638,617,000

7.5%

€8,034,783,000

31.3%

€6,120,820,000

-9.8%

€6,789,050,000

Net Assets

€1,682,969,748

176.8%

€607,948,000

40.9%

€431,492,000

-89.1%

€3,945,814,000

15.3%

€3,422,770,000

 

 

Cash Flow

 

Date Of

Accounts

30/06/2014

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Net Cashflow

from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow

before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow

from Financing

-

-

-

-

-

-

-

-

-

Increase in

Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of

Accounts

30/06/2014

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Contingent

Liability

YES

-

YES

-

YES

-

No

-

No

Capital

Employed

€2,134,893,558

109.6%

€1,018,406,000

29.5%

€786,484,000

-81.6%

€4,276,795,000

17.4%

€3,643,918,000

Number of

Employees

735

950%

70

-89.5%

668

1.1%

661

-4.1%

689

 

 

 

 

 

 

 

 

 

 

 

Accountants

Auditors            DELOITTE & TOUCHE

Auditor                         The audit report contains no adverse comments

Comments

Bankers            BANK OF IRELAND

Bank Branch       90-13-94

 

Code

Ratios

 

Date Of

Accounts

30/06/2014

30/06/13

30/06/12

30/06/11

30/06/10

Pre-tax profit

margin %

6.49

5.14

7.37

4.44

4.44

Current ratio

1.13

1.05

1.04 

1.67

1.51

Sales/Net

Working Capital

14.39

34.43

42.80

3.43

3.38

Gearing %

26.90

67.50

82.30

8.40

6.50

Equity in %

13.80

6.60

5.10

39.20

33.50

Creditor Days

1.17

1.06

0.42

1

 0.80

Debtor Days

73.64

85.66

90.18

76.83

85.98

Liquidity/Acid

Test

1.10

1.02

1.01

1.62

1.48

Return On

Capital

Employed %

55.93

75.77

128.56

13.86

39.21

Return On Total

Assets

Employed %

9.76

8.34

11.94

5.89

13.99

Current Debt

Ratio

5.99

13.53

17.79

1.46

1.91

Total Debt Ratio

6.26

14.20

18.62

1.55

1.98

Stock Turnover

Ratio %

1.44

1.50

1.43

1.98

1.34

Return on Net

Assets

Employed %

70.95

126.93

234.32

15.02

41.74

 

 

Status  History

 

No  Status 

Date

Description

02/03/2015

New  Accounts  Filed

28/02/2015

Annual  Returns

24/10/2014

FERGUS  MATTHEWS  has  left  the  board

24/10/2014

New  Board  Member  (JAMES  O'CONNOR)  appointed

18/04/2014

New  Accounts  Filed

17/04/2014

Annual  Returns

11/04/2013

New  Accounts  Filed

10/04/2013

Annual  Returns

01/08/2012

THOMAS  RAINY  HEEREY  has  left  the  board

01/08/2012

New  Board  Member  (FERGUS  MATTHEWS)  appointed

01/05/2012

Annual  Returns

01/05/2012

New  Accounts  Filed

01/05/2012

New  Accounts  Filed

03/05/2011

Annual  Returns

30/04/2011

New  Accounts  Filed

 

 

Previous  Company  Names

Date

 

Previous  Name

N/A

 

SAGEACRE  LIMITED

25/07/1997

 

SAGEACRE  LIMITED

15/11/1996

 

MICROSOFT  IRELAND  MARKETING  LIMITED

 

Writ  Details

 

No  writs  found

 

 

Statistics

 

Group                                      15 companies

Linkages                                  688 companies

Countries                                 In 96 countries

 

 

Summary

 

Holding Company                    MICROSOFT IRELAND

RESEARCH

Ownership Status                     Wholly Owned

Ultimate Holding Company      MICROSOFT CORP

 

 

Group  Structure

 

Company  Name

Registered

Number

Latest  Key

Financials

Consol. Accounts  

Turnover

MICROSOFT  CORP

 

-

-

$93,580,000,000

CAMBRIDGE  FLAT  PROJECT...

03709300

28.02.2014

N

 

INTERACTIVE  GAME  DEVEL...

02646104

30.06.2014

N

 

RARE  LIMITED

01905690

30.06.2014

N

£16,130,710

MICROSOFT  LUX  INTERNAT...

N/A

-

-

 

MICROSOFT  LIMITED

01624297

30.06.2014

N

£915,607,000

LIONHEAD  STUDIOS  L...

03232655

30.06.2014

N

£12,843,399

MICROSOFT  MOBILE  OY

N/A

-

-

 

MICROSOFT  MOBILE  UK...

01500669

31.12.2014

N

 

MICROSOFT  MOBILE  U...

02212202

31.12.2013

N

£359,451,000

NOKIA  (IRELAND)  LIMITED

IE146992

31.12.2013

N

€27,642,000

MICROSOFT  PROPERTIES  U...

02611800

30.06.2014

N

£3,007,000

RI  HOLDINGS

N/A

-

-

 

MICROSOFT  ROUND  ISLA...

IE348353

30.06.2004

Y

€7,946,000,000

MICROSOFT  FLAT  ISL...

IE362396

30.06.2004

N

€1,683,498,000

 

 

Business  Owner  Links

 

 

Business  Name

Business  No

Business  Status.

MICROSOFT  IRELAND  OPERATIONS  LIMITED

IE256796

 

  MICROSOFT  EUROPEAN  PRODUCT  DEVELOPMENT  CENTRE

163627

CEASED

  MICROSOFT  WORLDWIDE  PRODUCTS  GROUP  IRELAND

160431

CEASED

  MICROSOFT  EMEA  OPERATIONS  CENTRE

341346

NORMAL

  THE  NATIONAL  PRODUCTIVITY  CENTRE

318892

NORMAL

  MICROSOFT  REBATE  CENTRE

259092

NORMAL

  MICROSOFT

259089

NORMAL

  MICROSOFT  IT  ACADEMY

228399

NORMAL

  MICROSOFT  DEVELOPER  NETWORK  ACADEMIC  ALLIANCE

228398

NORMAL

  MICROSOFT  PRESS

228396

NORMAL

  WINXP

198869

NORMAL

  WINDOWSXP

198866

NORMAL

  OFFICEXP

198864

NORMAL

  VISIO  IRELAND

182517

NORMAL

  MICROSOFT  DIRECT  SERVICES

160433

NORMAL

  MICROSOFT  FULFILMENT  CENTRE

160432

NORMAL

  MICROSOFT  WPGI

160430

NORMAL

  MICROSOFT  EUROPEAN  OPERATIONS  CENTRE

160429

NORMAL

  MICROSOFT  MSDN  INFORMATION  CENTRE

160428

NORMAL

  MICROSOFT  SUBSCRIPTION  CENTRE

160427

NORMAL

  MICROSOFT  IRELAND

152548

NORMAL

  MICROSOFT  REGIONAL  EDUCATION  SERVICES  CENTRE

207066

NORMAL

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.65.74

UK Pound

1

Rs.99.53

Euro

1

Rs.73.80

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

               

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.