MIRA
INFORM REPORT
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Report Date : |
13th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NOLLMANN S.A. |
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Registered Office : |
Ituzaingó 795 (B1646EUB),San Fernando, Tigre, Buenos Aires Province,
Argentine Republic. |
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Country : |
Argentine Republic |
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Financials (as on) : |
31.07.2006 |
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Date of Incorporation : |
06.07.1976 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture, Export & Commercialization of Instruments of Electric
Measurement & Intensity Transformers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
NOLLMANN S.A.
CUIT: 30-56071085-9
Summary
INCORPORATED IN 1935. BEGINNER OF ACTIVITIES. BALANCE SHEET AS OF
31/07/2006: BALANCED ECONOMIC-FINANCIAL POSITION WITH POSITIVE FINAL
PROFITABILITY. FIT FOR OPERATIONS OF CURRENT IMPORTANCE WITH THE ADOPTION OF
ADDITIONAL GUARANTEES.
Operations
INSTRUMENTS OF ELECTRIC MEASUREMENT
INTENSITY TRANSFORMERS
MANUFACTURE
EXPORT
COMMERCIALIZATION
Legal Structure
Business type :
Public Limited Company
Incorporated : 06/07/1976
Registered : Buenos Aires
Province, Tigre
Duration : 99 years
End of fiscal year : July 31st
Contact
Operative and
Administrative address: Ituzaingó 795 (B1646EUB),San Fernando, Tigre, Buenos
Aires Province, Argentine Republic.
Phone/Fax : (54-011) 4744-0762
E-mail :
administración@nollmann.com.ar
E-mail :
importación@nollmann.com.ar
Website : www.nollmann.com.ar
Partners
President :
NOLLMANN MARIO GUILLERMO
Vice-president : BERNHARD
PATRICIA ISABEL
Member : NOLLMANN
ALEJANDRO
The first two mentioned ones, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
Personal Information
NOLLMANN MARIO GUILLERMO:
Argentinian, married, born on 20/11/1955, LE. 5.609.316 (CUIT. 20-05609316-9)
with address in Ibáñez 1470, Beccar, Buenos Aires Province.
BERNHARD PATRICIA ISABEL:
Argentinian, married to the aforementioned, born on 29/12/1943 (CUIT.
27-04757154-0) with same address than her husband.
History
According to our registered data, the company
was incorporated by mid-1976 with the objective of performing its current
activities, operating nowadays in the previously exposed address.
There is neither register of its participation in other economic group, or of
its directors’ in other companies.
Economic-Financial Position
Contact has been taken with the Accountant Gabriela Maldonado, from who
was required the delivery of financial information as to determine its current
economic-financial situation.
As an answer to our requirement, she supplied a copy of the Balance Sheet ended
as of 31/07/2006, which is expressed in pesos.
At the end of the exposed fiscal year it didn't exist objectionable points
about liquidity and solvency, which together with an appropriate indebtedness
level, it had a balanced economic-financial situation.
The reached income level has been interesting for its sectorial importance,
obtaining finally a positive final profitability.
Balance Sheet
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Balance Sheet/s |
31/07/2006 |
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Total Assets |
$ 11.654.982,82 |
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Current Assets |
$ 5.163.075,35 |
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Banks |
$ 916.072,69 |
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Accounts Receivables |
$ 3.442.637,00 |
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Inventory |
$ 804.365,66 |
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Fixed Assets |
$ 6.446.416,14 |
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Non-Current Assets |
$ 6.491.907,47 |
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Investments |
$ 9.400,00 |
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Total Liabilities |
$ 3.695.101,44 |
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Current Liabilities |
$ 2.288.950,83 |
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Non-Current Liabilities |
$ 1.406.150,61 |
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StockHolders Equity |
$ 7.959.881,38 |
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Net Sales |
$ 12.479.307,25 |
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Cost of Good Sold |
$ 8.726.563,43 |
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Gross Result |
$ 3.752.743,82 |
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Administrative Expenses |
$ 433.363,69 |
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Selling Expenses |
$ 724.642,91 |
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Financial Income |
$ 303.648,30 |
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Other Expenses |
$ 94.521,17 |
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Final Result |
$ 2.385.610,09 |
Balance Sheet Analysis
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Indexes |
31/07/2006 |
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Current Ratio |
225,57 % |
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Quick Ratio |
190,42 % |
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Short Term Indebtedness |
28,76 % |
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Debt to Equity Ratio |
46,42 % |
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Long Term Assets to Total Assets |
55,70 % |
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Fixed Assets to Equity |
80,99 % |
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Total Assets to Total Liabilities |
315,42 % |
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Debt Ratio |
31,70 % |
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Equity Ratio |
68,30 % |
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Investments to Assets Ratio |
6,90 % |
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Current Investment |
44,30 % |
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Stocks Aging Days |
33,64 días |
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Day Sales |
100,69 días |
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Trade Debtors To Assets |
29,54 % |
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Total Assets Turnover |
107,07 % |
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Net Worth Aging |
156,78 % |
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Fixed Assets Aging |
193,59 % |
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Gross Profit |
69,93 % |
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Financial Expenses on Sales Ratio |
2,43 % |
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Commercial Exp. on Sales Ratio |
5,81 % |
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Administrative Exp. on Sales Ratio |
3,47 % |
Assets
REAL ESTATE:
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Inside the company's fixed assets are included the land and building that it
has in the previously exposed address, with a real value higher than the
mentioned one.
No title deeds were shown as to verify if its properties are unencumbered.
Evolution and Results
The company is engaged in the
manufacture and commercialization of a large range of products of electric
measurement and intensity transformers, such as:
> Analogical instruments
> Digital instruments
> Transformers of current
> Transducers
> Tension and current monitors
> Timers
> Change-over switch
> Tension transformers, cabinets and bars of several materials.
It is located in the previously exposed address, having an appropriate
infrastructure and organization, where its directors participate together with
the necessary staff, among administrators, technicians, etc.
It carries out imports from Germany, USA, France, Brazil, Spain, Italy, Taiwan,
China and India, carrying out exports of its products from countries of the
MERCOSUR.
* 101 EMPLOYEES
USUAL SUPPLIERS:
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SIDERSA S.A.
M.T.MAJDALANI S.A.
FOREIGN TRADE:
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In the last twelve months it has carried out imports for a total value of US$
427.269 from the following countries:
USA ............................... US$
118.054
LA PLATA (FREE PORT) .............. US$
95.565
FRANCE ............................ US$
66.155
OTHERS ............................ US$
147.496
Payment Record and Credit
Risk
BANKS:
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BANCO DE GALICIA Y BS.AIRES Branch:
San Fernando
BANCO DE LA NACION ARGENTINA Branch:
San Fernando
BCO.DE LA PCIA.DE BUENOS AIRES Branch:
San Fernando
BANCO RIO DE LA PLATA Branch: San Fernando
CREDIT RISK:
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ENTITY MONTH/YEAR SITUATION
AMOUNT
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GALICIA 11/2006 1 $
1.071.700
PCIA.BS.AS. 11/2006 1 $
871.100
RIO 11/2006
1
$ 197.000
NACION 11/2006 1
$ 133.700
Situacion 1: Cumplimiento normal.
Concept
Through its long trajectory it has been
commercially related with national and foreign companies. Most of them give it
their credit support and indicate that up to no it has fulfilled the
commitments taken.
* FULFILLMENT: WITHOUT OBJECTIONS
Final Opinion
Bearing
in mind that it doesn't register negative, we consider feasible the credit
treatment with this company bu amounts of current importance and with the
adoption of additional guarantees.
* FIT FOR CREDIT TREATMENT
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/normal. |
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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