MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
WHIRLPOOL S/A |
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Registered Office : |
Av.das Nações Unidas, 12.995 – 32º andar- Brooklin Paulista, 04578-911
São Paulo / SP |
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Country : |
Brazil |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
June 12, 1947 |
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Com. Reg. No.: |
35.300.035.011 |
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Legal Form : |
Joint Stock Corporation (Open Capital) |
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Line of Business : |
Trading Electronic Items. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Company name
WHIRLPOOL S/A.
Trade Name
MULTIBRAS
Economical Group
WHIRLPOOL CORP
Address
Av.das Nações Unidas, 12.995 – 32º andar- Brooklin Paulista
04578-911 São Paulo / SP - Brazil
Phone: (55-11) 6940
1000 / 5586 6100 / 3613 4200
Fax: (55-11) 5586
6484
E-mail: relmerca@multibras.com.br
Web Site: www.whirlpool.com.br
Legal information
Legal Status: Joint
Stock Corporation (Open Capital)
Incorporation date: June
12, 1947
Register number #: 35.300.035.011
Tax contributor (CNPJ): 59.105.999/0001-86
Registered Capital: R$1.085.793.037,93
State Registration #: 113.779.581.110
Number of employees: 8.000
Branches: 58
Subsidiary:
EMBRACO ELETRONIC CONTROL – EECON
Cnpj: 59.105.999/0058-11
Rua Rui Barbosa, 1020
89219-901 Joinville / SC – Brazil
Phone: (55 47) 3441 7916 / 7960 / 7987
Factory:
Av. 80 A – Nº777 – Distrito Industrial
13506-095 – Rio Claro / SP
Factory of refrigerators:
Rua Dona Francisca, 7.200
Joinville / SC – Brazil
Center of Distribution of Appliances:
Jaboatão dos Guararapes/PE
History
Established on June 12, 1947, chartered at the State Commerce
Registration Office of São Paulo (JUCESP) under # 35.300.035.011, as Brastemp
S/A. On April 25, 1994 the company changed into Multibras S/A Eletrodomésticos.
On April 28, 2006 the subject adopted the present registered name.
The company incorporated in 04/2006 Empresa Brasileira de Compressores
S/A – Embraco.
Partnership:
Whirlpool do Brasil Ltda. (11/1976) - 49,9%
Brazil, CNPJ: 46.267.514/0001-09
Brasmotor S/A. (05/1957) - 44,2%
Brazil, CNPJ: 61.084.984/0001-20
Others
- 5,90%
Management: (Joined 04/2006 up to 04/2009)
Paulo Frederico Meira de Oliveira Periquito - President Director
Brazilian, Widower, CPF: 064.231.404-72
João Carlos Costa Brega -
Director Rel.Investors
Brazilian, Separated judicially, CPF: 048.506.488-00
Emerson Maria do Valle -
Director
Brazilian, Married,VPF: 036.676.978-21
Gilberto Moacir de Oliveira Teiceira -
Director
Brazilian, Married, CPF: 413.572.728-04
Laercio Hardt -
Director
Brazilian, Married, CPF: 312.881.899-15
Counselor:
Paulo Frederico Meira de Oliveira Periquito - President
Ricardo Leon Toutin Acosta -
President Vice
Antonio Mendes -
Counselors
Properties
Premises from which it operates is rented. (alugado)
Own building, total area: 401.447 m², built up area: 58.000 m².
Other properties:
The company possesses other properties in the states of São Paulo and
Santa catarina.
Registered line of
business:
Indústria de eletrodomésticos não portátil
Main Products:
49% - Washers of Clothes
18% - Stoves
11% - Freezers
08% - Conditioning of air
08% - Other products
Marketed marks:
Brastemp, Consul, Eslabon de Lujo Whirlpool.
Import countries:
Argentina, Estados Unidos da América, Alemanha, França e Coréia.
Export countries:
Àfrica do Sul, Estados Unidos da América, França, Itália, Espanha,
Grécia, México, Austrália, Índia, Israel e Canadá.
Related Companies
Stock participation:
CONSÓRCIO NACIONAL BRASTEMP LTDA -
CNPJ: 45.443.322/0001-43
- Whirlpool S/A -
99,8%
- Paulo Frederico Meira de O. Periquito - 0,1%
BRASMOTOR S/A -
CNPJ: 61.084.984/001-20
- Whirlpool S/A -
55,0%
BRASTEMP UTILIDADES DOMÉSTICAS LTDA -
CNPJ: 62.058.318/0001-80
- Whirlpool S/A -
50,0%
BRASTEMP DA AMAZÔNIA S/A -
CNPJ: 63.699.839/0001-80
- Whirlpool S/A - 99,9%
AGRO PECUÁRIA ENA LTDA -
CNPJ: 03.489.648/0001-61
- Whirlpool S/A -
100,0%
PLANIHOLD S/A. -
CNPJ: 56.817.786/0001-99
- Brasmotor S/A -
17,5%
Financial Data
The following financial statement was obtained through outside sources
consulted.
Quarterly balance sheet as of 31/06/2007 – US$1.00 = R$1,926
Balance sheet information for fiscal year ending:
31/12/2006 – US$1.00 = R$2,138
31/12/2005 – US$1.00 = R$2,341
Figures are in (Thousands of) Reais R$:
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Assets |
06/2007 |
2006 |
2005 |
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Current Assets |
1.761.708 |
1.649.127 |
1.003.595 |
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Inventory |
449.726 |
330.873 |
171.858 |
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Other Assets |
1.311.982 |
1.318.254 |
831.737 |
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Long Term Assets |
385.458 |
390.864 |
316.605 |
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Not Current Assets |
1.598.682 |
1.878.132 |
1.487.814 |
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Investment |
497.228 |
780.139 |
796.368 |
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Immovable |
706.842 |
697.975 |
374.841 |
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Deferred |
9.154 |
9.154 |
0 |
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Total Assets |
3.360.390 |
3.527.259 |
2.491.409 |
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Liabilities |
06/2007 |
2006 |
2005 |
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Current Liabilities |
1.370.665 |
1.315.113 |
898.667 |
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Suppliers |
1.004.814 |
740.638 |
442.513 |
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Other liabilities |
365.851 |
574.475 |
456.154 |
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Not Current Liabilities |
413.343 |
242.325 |
166.365 |
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Net Equity |
1.576.382 |
1.969.821 |
1.426.377 |
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Capital |
1.085.793 |
1.085.793 |
825.000 |
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Reserves |
270.321 |
884.028 |
601.377 |
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Accumulated Profit (Loss) |
200.269 |
0 |
0 |
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Total Liabilities |
3.360.390 |
3.527.259 |
2.491.409 |
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Income Statement |
06/2007 |
2006 |
2005 |
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Annual Net Sales |
2.934.306 |
4.980.334 |
3.618.010 |
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Gross Income |
2.261.191 |
3.834.626 |
2.651.129 |
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Operating Income |
261.567 |
352.700 |
77.542 |
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Net Income |
220.268 |
278.713 |
48.410 |
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Financial Analysis |
06/2007 |
2006 |
2005 |
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Current Ratio |
1,28 |
1,25 |
1,11 |
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Current Debt
Ratio |
0,86 |
0,66 |
0,63 |
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Total Debt Ratio |
2,13 |
1,79 |
1,74 |
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Working Capital |
$391.043 |
$334.014 |
$104.928 |
(Dollar rate US$1.00 = R$1,796 on 23/11/2007)
Banking
Banco Brasdesco S/A. - branch 0516
Remark: banking comments
could not be obtained due to legal restrictions from the Brazilian Law.
No returned checks were found either in the name of the company or
partners.
Insurance
Not informed.
Payment information
*Information obtained from outside sources and public consulted.
14.741 – Invoices
Information
on purchases:
NOV/2007 Last: R$7.435 Average: R$12.476
Information
on invoicing:
DEC/2006 Highest: R$444.061 Average: R$31.106
Information
on accumulation:
JUN/2007 Highest: R$5.282.088 Average: R$132.888
95% - Prompt payments
03% - Delays from 08 up to 15 days
01% - Delays from 16 up to 30 days
01% - Delays from 31 up to 60 days
Trade References
Main Suppliers:
Acesita S/A.
PPE Fios Esmaltados S/A.
Companhia Siderúrgica Nacional
Main clients:
Mendes & Delaroli Ltda.
Utilar Comércio de Utilidades Domésticas Ltda.
Sabermaq Comércio de Peças e Serviços LtdAA.
Public Records Information
No negative information was found.
Remarks
The information in this report were obtained from outside sources and
public records consulted.
Final Opinion
The subject is one of the main trading companies in Brazil, its
activities are carried out on a global basis and the company has important
suppliers all over the world.
The company can be considered normal for business dealings at usual
trade terms and conditions.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)