|
|
|
MIRA
INFORM REPORT
|
Report No. : |
501075 |
|
Report Date : |
02.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARCELORMITTAL INTERNATIONAL LUXEMBOURG SA |
|
|
|
|
Registered Office : |
24-26, Bld d'Avranches, 1160 |
|
|
|
|
Country : |
Luxembourg |
|
|
|
|
Financials (as on) : |
01.01.2014 |
|
|
|
|
Date of Incorporation : |
18.04.1962 |
|
|
|
|
Com. Reg. No.: |
Luxembourg B 6.304 |
|
|
|
|
Legal Form : |
Public
Limited |
|
|
|
|
Line of Business : |
·
Sale
and production of steel ·
Agents
involved in the sale of fuels, ores, metals and industrial chemicals |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Luxembourg |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
LUXEMBOURG - ECONOMIC OVERVIEW
This small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment. Luxembourg, the only Grand Duchy in the world, is a landlocked country in northwestern Europe surrounded by Belgium, France, and Germany. Despite its small landmass and small population, Luxembourg is the second-wealthiest country in the world when measured on a gross domestic product (PPP) per capita basis. Luxembourg has one of the highest current account surpluses as a share of GDP in the euro zone, and it maintains a healthy budgetary position, with a 2017 surplus of 0.5% of GDP, and the lowest public debt level in the region.
Since 2002, Luxembourg’s government has proactively implemented policies and programs to support economic diversification and to attract foreign direct investment. The government focused on key innovative industries that showed promise for supporting economic growth: logistics, information and communications technology (ICT); health technologies, including biotechnology and biomedical research; clean energy technologies, and more recently, space technology and financial services technologies. The economy has evolved and flourished, posting strong GDP growth of 3.4% in 2017, far outpacing the European average of 1.8%.
Luxembourg remains a financial powerhouse – the financial sector accounts for more than 35% of GDP - because of the exponential growth of the investment fund sector through the launch and development of cross-border funds (UCITS) in the 1990s. Luxembourg is the world’s second-largest investment fund asset domicile, after the US, with $4 trillion of assets in custody in financial institutions.
Luxembourg has lost some of its advantage as a favorable tax location because of OECD and EU pressure, as well as the “LuxLeaks” scandal, which revealed advantageous tax treatments offered to foreign corporations. In 2015, the government’s compliance with EU requirements to implement automatic exchange of tax information on savings accounts - thus ending banking secrecy - has constricted banking activity. Likewise, changes to the way EU members collect taxes from e-commerce has cut Luxembourg’s sales tax revenues, requiring the government to raise additional levies and to reduce some direct social benefits as part of the tax reform package of 2017. The tax reform package also included reductions in the corporate tax rate and increases in deductions for families, both intended to increase purchasing power and increase competitiveness.
|
Source
: CIA |
Summary
|
Company name |
ArcelorMittal International Luxembourg SA |
|
Status |
Active |
Contact information
|
Company name |
ArcelorMittal International Luxembourg SA |
|
Trading name |
ArcelorMittal International Luxembourg |
|
Registered address |
1160 Luxembourg |
|
Correspondence address |
24-26, Bld d'Avranches 1160 Luxembourg |
|
Telephone number |
+352 47921 |
|
Fax number |
+352 47922029 |
|
Email address |
|
|
Website |
www.arcelormittal.com |
Registration
|
Registration number |
Luxembourg B 6.304 |
|
Fiscal mnumber |
1962/2200/204 |
|
VAT-number |
LU 116.739.60 |
|
Status |
Active |
|
Establishment date |
18-04-1962 |
|
Legal form |
Public
Limited |
|
Subscribed share capital |
EUR 7.350.000 |
Activities
|
Sale and
production of steel. Holding. 46.7 Other specialised wholesale 46.120 Agents involved in the sale of
fuels, ores, metals and industrial chemicals
|
Relations
|
Shareholders |
ArcelorMittal
International SA 1160
Luxembourg, 24-26, Bld d'Avranches 99,99% Belgo Trade
SA 1931
Luxembourg, 19, Ave de la Liberté 00,01% |
|
Structure |
Subsidiaries/participations: - AMI Algeria
EURL - AMI
Salvador SA - AMI Africa - AMI SA PTY
Ltd - AMI Brazil
Ltda - AMI
Venezuela C.A. - AMI
Lapandry Acier Sarl - AMI Ecuador
SA - AMI Ticaret
SA - AMI Antwerp
N.V. - AMI Ukraine |
|
Branches |
No branches
on record |
Management
|
Name |
Rajesh Saigal, born 25.11.1969 1882 Luxembourg, 12C, Rue
Guillaume Kroll |
|
Postition |
|
|
Startdate |
09-05-2014 |
|
|
|
|
Name |
Hilde Van Grembergen, born 14.10.1968 Gent, Belgium |
|
Postition |
Director |
|
Startdate |
31-07-2017 |
|
|
|
|
Name |
Christophe Jacamon, born 16.01.1971 1160 Luxembourg, 24-26, Bld d'Avranches |
|
Director |
|
|
Startdate |
31-07-2017 |
|
|
|
|
Other recent
history As per 31-07-2017 Marc
Vereecke resigned. As per 31-07-2017 Amit
Harlalka resigned. |
|
Employees
|
Year |
2017 |
|
|
40 |
Bank
|
BIL Banque Internationale
à Luxembourg S.A. 1470 Luxembourg BILLLULL BGL BNP Paribas 1855 LUXEMBOURG BGLLLULL Banque et Caisse
d'Epargne de l'Etat, Luxembourg 1930 LUXEMBOURG BCEELULL KBL European Private
Bankers S.A. 2449 LUXEMBOURG |
Payments
|
No complaints
on record. |
Remarks
|
Auditor: KPMG Address till 21-09-2016: 1882 Luxembourg, 12C, Rue
Guillaume Kroll |
Finances
|
Balance sheet category |
small balance
sheet |
small balance
sheet |
|
Legal system |
HGB |
HGB |
|
Reporting period |
01.01.2014 -
31.12.2014 |
01.01.2013 -
31.12.2013 |
|
Assets |
in EUR |
in EUR |
|
Balance sheet total |
240.736.418,16 |
425.979.958,61 |
|
Factory and office equipment |
102.311,61 |
91.564,92 |
|
Shares in affiliated companies |
54.450.232,99 |
48.649.686,92 |
|
Finished goods |
81.826,05 |
|
|
Down payments made |
813.034,69 |
|
|
Accounts receivable |
71.557.464,36 |
95.070.895,21 |
|
Receivables from affiliates |
103.159.373,05 |
271.939.473,93 |
|
Other receivables |
4.606.181,68 |
3.831.401,01 |
|
Cheque, cash in hand and
in banks |
6.779.028,42 |
5.583.901,93 |
|
Liabilities |
in EUR |
in EUR |
|
Balance sheet total |
240.736.418,16 |
425.979.958,61 |
|
Shareholders' funds |
42.936.177,10 |
20.458.100,10 |
|
Pension provision |
2.073.282,18 |
1.868.128,70 |
|
Tax provisions |
1.322.400,00 |
|
|
Other provisions |
1.541.420,35 |
3.332.311,98 |
|
Liabilities towards credit institutes |
701.361,47 |
|
|
Down payment received |
14.269.869,57 |
15.398.094,46 |
|
Accounts payable |
9.896.805,25 |
18.904.709,46 |
|
Liabilities towards affiliates |
166.955.488,73 |
363.082.570,94 |
|
Miscellaneous items |
1.304.904,42 |
972.395,23 |
|
Tax-VAT-liabilities |
388.457,55 |
388.007,74 |
|
Taxes and social security
contributions |
9.204,30 |
|
|
Deferred items - liabilities - |
38.408,71 |
874.278,53 |
|
Addition to
balance sheet as at 31.12.2014 |
|||
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
Euro |
1 |
INR 80.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.