MIRA
INFORM REPORT
|
Report Date : |
7th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
MAXIMO LUCINI DISEGNO Y MODA S.L. |
|
|
|
|
Registered Office : |
Avenida De Las Americas, 9 29006 Malaga
(Malaga) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
12.08.2004 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of clothing and footwear. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
Identification and
Characteristics
Tax Number B92577311
NAME MAXIMO
LUCINI DISEGNO Y MODA S.L.
BUSINESS ADDRESS AVENIDA
DE LAS AMERICAS, 9
Postcode 29006
MALAGA (MALAGA)
TELEPHONE 913026135
FAX 913026135
LEGAL FORM LIMITED
LIABILITY COMPANY
DATE FOUNDED 12/08/2004
CAPITAL 3.020,00 Euros
NUMBER OF EMPLOYEES 2
ACTIVITY 1613300 - Wholesale
of clothing (outerwear)
CNAE 5142 - Wholesale
of clothing and footwear
IMPORT COMPANY YES
Synthesis
FINANCIAL
SITUATION (Year ending: 31/12/2005)
PROFITABILITY Nil
TREASURY Tense
BALANCE SHEET Degraded
DEBT Heavy
INCIDENTS
COMMITMENTS Respected
INCIDENTS None
or Negligible
PREVIOUS EXPERIENCE
PREVIOUS EXPERIENCE Average
Credit Appraisal
CREDIT ACCORDING
TO OBJECTIVE DATA (From 0 to 6.000.000,00 Euros):
FAVOURABLE
TOWARDS 2.999,05 Max.
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2.004 (5) |
Balance
sheet 2.005 (12) |
Estimate 2.006
(12) |
|
SALES |
12.173,00 |
187.195,22 |
185.000,00 |
|
ADDED VALUE |
4.403,64 |
28.094,14 |
|
|
BUSINESS RESULT |
2.258,78 |
-187,70 |
|
|
OWN FUNDS |
5.278,78 |
5.091,08 |
|
|
DEBT |
19.150,46 |
107.541,50 |
|
|
TOTAL ASSET |
24.429,24 |
112.632,58 |
|
THE FIGURES FOR
THE LAST BALANCE SHEET ARE RELEVANT:
SOURCE: FROM
THE MERCANTILE REGISTER
DATE: 05/12/2006
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
100,00 |
99,00 |
1,00 |
|
ADDED
VALUE |
15,01 |
19,09 |
-4,08 |
|
BUSINESS
RESULT |
-0,10 |
2,31 |
-2,41 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
4,52 |
34,76 |
-30,24 |
|
DEBT |
95,48 |
65,24 |
30,24 |
Compared sector (CNAE): 514 - Comercio al
por mayor de productos de consumo, distinto de los alimenticios
Number of companies: 3.218
Size (Sales Figure): 0 - 2.800.000,00
Euros
The turnover of the company is 1,00%
above the mean for the sector.
The company’s added value was 15,01%
s/ the production value, and 4,08% below the mean for the sector.
The company’s business result was
-0,10% of the PV, 2,41% below the mean for the sector.
The company’s own resources are 4,52%
, 30,24% below the mean for the sector.
The company’s outside resources are
95,48% , 30,24% above the mean for the sector.
Legal Actions
No legal
incidences registered for this company in the official source
No claims
registered for this company in the official sources
AFFECTED BY:
No significant elemento
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
SOLE ADMINISTRATOR |
ABREGO SERGIO JAVIER |
01/04/2005 |
Financial Links
|
Shareholders |
||||
|
Company Name |
|
|
Source |
Information Date |
|
ABREGO SERGIO JAVIER |
|
100,00% |
OWN SOURCES |
06/03/2007 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2005) |
08/09/2006 |
363658 |
MALAGA |
|
Registration of accounts
(2004) |
07/09/2005 |
351499 |
MALAGA |
|
Resignations |
01/04/2005 |
149957 |
MALAGA |
|
Appointments |
01/04/2005 |
149957 |
MALAGA |
|
Statement of unipersonality |
09/03/2005 |
111673 |
MALAGA |
Complementary Information
Direccion de
actividad: C/ Arturo Soria 280, Bloque 1 28033 Madrid.
Marca propia :
Victoria Lucini.
Remarks for customer
The address included in your enquiry(Calle
Arturo Soria Bloque 1 MADRID, 28033) belongs to the activity address.
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
VICTORIA LUCINI |
||||
|
Kind of Brand: |
JOINT |
File: |
M2670501 |
||
|
Request Date: |
21/09/2005 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25
|
|
||||
Total Marcas: 1
Branches
|
Road |
Postal Code |
Town |
Province |
|
ARTURO SORIA |
28033 |
MADRID |
MADRID |
Commercial Experience
PURCHASES
Imports::
INDIA, CHINA
Clients International
EL CORTE INGLES
Total 1
Bank Entities
|
Entity |
|
|
|
|
|
BANCO PASTOR, S.A. |
|
|
|
|
The information on the last account contained
in this report is extracted from the Mercantile Register file of the legal
address of the Company and dated 05/12/2006
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2004 (5)
|
31/12/2005 (12)
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
|
|
|
|
B) FIXED ASSETS |
|
13.421,37 |
|
|
I. Establishment expenses |
|
|
|
|
II. Intangible assets |
|
|
|
|
III. Tangible assets |
|
13.421,37 |
|
|
IV. Financial assets |
|
|
|
|
V. Owners equity |
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
D) CURRENT ASSETS |
24.429,24 |
99.211,21 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
II. Inventory |
18.315,87 |
59.592,00 |
|
|
III. Debtors |
6.110,33 |
39.619,21 |
|
|
IV. Short term financial assets |
|
|
|
|
V. Short term owners equity |
|
|
|
|
VI. Cash |
3,04 |
|
|
|
VII. Prepaid expenses and accrued income |
|
|
|
|
ASSETS (A + B + C + D) |
24.429,24 |
112.632,58 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2004 (5)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
5.278,78 |
5.091,08 |
|
|
I. Capital |
3.020,00 |
3.020,00 |
|
|
II. Premium share account |
|
|
|
|
III. Revaluation reserve |
|
|
|
|
IV. Reserves |
|
|
|
|
V. Prior year earnings |
|
2.258,78 |
|
|
VI. Prior year profit or losses |
2.258,78 |
-187,70 |
|
|
VII. Dividend paid during the year |
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
B) DEFERRED INCOME |
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
D) LONG TERM LIABILITIES |
|
|
|
|
E) SHORT TERM LIABILITIES |
19.150,46 |
107.541,50 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
24.429,24 |
112.632,58 |
Profit and Loss Account
|
(Figures given in Euros) |
31/12/2004 (5)
|
31/12/2005 (12)
|
|
|
|
A) EXPENSES (A.1 a A.15) |
|
|
|
|
A.1 Operating Expenses |
6.338,50 |
115.406,72 |
|
|
A.3. Labor cost |
|
26.796,02 |
|
|
Wages |
|
22.986,14 |
|
|
Social security expenses |
|
3.809,88 |
|
|
A.3. Assets depreciation |
1.176,81 |
1.566,26 |
|
|
A.4. Variance in provision for current
assets |
|
|
|
|
A.5. Other operating costs |
1.430,86 |
43.694,36 |
|
|
A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
3.226,83 |
|
|
|
A.6. Financial expenses |
|
|
|
|
A.7. Variation in financial investments
provision |
|
|
|
|
A.8. Exchange losses |
|
|
|
|
A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
|
|
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
3.226,83 |
|
|
|
A.9. Variation in provision in fixed
assets |
|
|
|
|
A.10. Losses in fixed assets |
|
|
|
|
A.11. Losses from shares and bonds |
|
|
|
|
A.12. Extraordinary charges |
|
|
|
|
A.13. Prior year’s expenses and losses |
|
|
|
|
A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
|
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
3.226,83 |
|
|
|
A.14. Corporate Taxes |
968,05 |
-80,44 |
|
|
A.15. Other taxes |
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
2.258,78 |
|
|
|
B) INCOMES (B.1 a B.8) |
|
|
|
|
B.1. Operating income |
12.173,00 |
187.195,22 |
|
|
Turnover |
12.173,00 |
187.195,22 |
|
|
B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
|
268,14 |
|
|
B.2. Financial Income |
|
|
|
|
B.3. Gains on exchange |
|
|
|
|
B.II. FINANCIAL LOSSES
(A.6+A.7+A.8-B.2-B.3) |
|
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
268,14 |
|
|
B.4. Gains from disposal of fixed assets |
|
|
|
|
B.5. Gains from dealing in own shares |
|
|
|
|
B.6. Paid in surplus |
|
|
|
|
B.7. Extraordinary income |
|
|
|
|
B.8. Prior year’s income and profits |
|
|
|
|
B.IV. EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
|
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
268,14 |
|
|
B.VI. NET LOSS (B.V+A.14+A.15) |
|
187,70 |
Main Ratios
|
(Figures given in Euros) |
2.004 (5) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
Increase of the Sales Figures |
|
|
|
|
Assets Turnover |
0,50 |
1,66 |
|
|
Productivity |
|
1,05 |
|
|
Increase of the Added Value |
|
|
|
|
PROFITABILITY |
|
|
|
|
Economic Profitability |
9,25 |
-0,17 |
|
|
Financial Profitability |
42,79 |
-3,69 |
|
|
Financial Expenses |
|
|
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
Customers’ Credit (In days of sales) |
181,00 |
76,00 |
|
|
Suppliers’ Credit (In days of sales) |
|
|
|
|
Working Capital (In days of sales) |
156,00 |
0,00 |
|
|
Working Capital Requirement (In days of
sales) |
156,00 |
0,00 |
|
|
Treasury (In days of sales) |
0,00 |
|
|
|
BALANCE |
|
|
|
|
Working Capital |
5.278,78 |
-8.330,29 |
|
|
Working Capital Requirement |
5.275,74 |
-8.330,29 |
|
|
Treasury |
3,04 |
|
|
|
Balance Ratio |
|
0,38 |
|
|
SOLVENCY |
|
|
|
|
Borrowing Ratio |
78,39 |
95,48 |
|
|
Own / Permanent Funds |
100,00 |
100,00 |
|
|
Payback Capacity |
1,44 |
0,57 |
|
|
LIQUIDITY |
|
|
|
|
General Liquidity |
1,28 |
0,92 |
|
|
Immediate Liquidity |
0,00 |
|
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,08 |
-0,08 |
|
FIXED ASSETS |
11,92 |
25,16 |
-13,24 |
|
ACCRUED EXPENSES |
0,00 |
0,37 |
-0,37 |
|
CURRENT ASSETS |
88,08 |
74,38 |
13,70 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
4,52 |
34,76 |
-30,24 |
|
ACCRUED INCOME |
0,00 |
0,09 |
-0,09 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,05 |
-0,05 |
|
LONG-TERM CREDITORS |
0,00 |
11,60 |
-11,60 |
|
SHORT-TERM CREDITORS |
95,48 |
53,48 |
42,00 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,02 |
-0,02 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Net turnover |
100,00 |
99,00 |
1,00 |
|
Other operating income |
0,00 |
1,00 |
-1,00 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
61,65 |
69,22 |
-7,57 |
|
Other operation expenses |
23,34 |
11,69 |
11,66 |
|
Added value |
15,01 |
19,09 |
-4,09 |
|
Labor cost |
14,31 |
13,51 |
0,80 |
|
Gross Economic Result |
0,69 |
5,58 |
-4,89 |
|
Assets depreciation |
0,84 |
1,36 |
-0,53 |
|
Variation in provision
for current assets |
0,00 |
0,20 |
-0,20 |
|
Net Economic Result |
-0,14 |
4,02 |
-4,17 |
|
Financial income |
0,00 |
0,35 |
-0,35 |
|
Financial expenses |
0,00 |
1,34 |
-1,34 |
|
Variation in financial
investment provision |
0,00 |
-0,00 |
0,00 |
|
Ordinary Activities
Result |
-0,14 |
3,03 |
-3,17 |
|
Extraordinary income |
0,00 |
0,38 |
-0,38 |
|
Extraordinary expenses |
0,00 |
0,17 |
-0,17 |
|
Variation in provision
in fixed assets |
0,00 |
0,01 |
-0,01 |
|
Results before Taxes |
-0,14 |
3,23 |
-3,38 |
|
Corporaye taxes |
-0,04 |
0,93 |
-0,97 |
|
Net Result |
-0,10 |
2,31 |
-2,41 |
|
Assets depreciation |
0,84 |
1,36 |
-0,53 |
|
Provisions fund
variation |
0,00 |
0,20 |
-0,20 |
|
Net Self-Financing |
0,74 |
3,87 |
-3,14 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
|
-8,49 |
2,55 |
13,08 |
|
Assets Turnover |
1,66 |
1,12 |
1,65 |
2,29 |
|
Fixed Assets Turnover |
13,95 |
4,25 |
10,94 |
28,11 |
|
Increase of the Added
Value |
|
-7,36 |
3,23 |
15,72 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,05 |
1,18 |
1,35 |
1,65 |
|
Change of Personnel
Costs |
|
-0,57 |
6,83 |
18,18 |
|
Average Personnel Costs |
|
14.323,15 |
18.665,09 |
25.219,39 |
|
Value Added by Employees |
|
19.433,43 |
26.374,99 |
38.146,13 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
1.378,56 |
8.764,47 |
21.001,25 |
45.409,88 |
|
Operating Cash Flow |
1.298,12 |
12.717,75 |
31.620,79 |
67.999,05 |
|
Change in Cash Flow |
|
-29,49 |
-3,93 |
20,22 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
-0,17 |
0,91 |
2,34 |
5,18 |
|
Financial Profitability |
-3,69 |
3,93 |
9,69 |
18,58 |
|
Financial Expenses |
|
0,23 |
0,83 |
1,81 |
|
Gross Economic
Profitability |
1,15 |
4,38 |
7,67 |
12,21 |
|
Gross Financial
Profitability |
25,50 |
14,72 |
29,75 |
54,16 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
76,00 |
27,84 |
63,65 |
103,75 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
0,00 |
10,14 |
36,71 |
82,43 |
|
Working Capital Requirement
(In days of sales) |
0,00 |
-15,94 |
12,26 |
50,95 |
|
Treasury (In days of
sales) |
|
5,75 |
18,81 |
44,71 |
|
Operating Current Assets |
190,00 |
117,80 |
166,02 |
238,23 |
|
BALANCE |
|
|
|
|
|
Working Capital |
-8.330,29 |
12.780,83 |
63.242,83 |
177.900,13 |
|
Working Capital
Requirement |
-8.330,29 |
-21.335,11 |
18.611,73 |
102.587,82 |
|
Treasury |
|
7.968,92 |
31.140,08 |
88.477,27 |
|
Balance Ratio |
0,38 |
1,23 |
2,20 |
5,17 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
95,48 |
52,37 |
72,58 |
85,37 |
|
Own / Permanent Funds |
100,00 |
58,54 |
91,21 |
100,00 |
|
Payback Capacity |
0,57 |
0,25 |
0,39 |
0,60 |
|
Long term Indebtedness |
|
0,00 |
2,81 |
16,25 |
|
Gearing |
2.212,35 |
209,95 |
364,68 |
683,32 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,05 |
1,14 |
1,34 |
1,87 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
0,92 |
1,07 |
1,30 |
1,85 |
|
Immediate Liquidity |
|
0,04 |
0,16 |
0,44 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)