MIRA
INFORM REPORT
|
Report Date : |
29.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CLARIANT S/A |
|
|
|
|
Registered Office : |
Av. Das Nações Unidas,18001 - Santo Amaro, 04795-900 - São Paulo/Sp |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
01/07/1995 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacture of Chemicals. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name
CLARIANT S/A
ADDRESSES
|
MAIN ADDRESS: |
AV. DAS NAÇÕES UNIDAS,18001 - SANTO AMARO |
|
ZIP CODE/CITY: |
04795-900 - SÃO PAULO/SP |
|
|
|
|
PHONE: |
11 5683-7233 |
|
FAX: |
11 5683-7053 |
|
E-MAIL: |
elton.sarmento@clariant.com |
|
WEB SITE: |
www.clariant.com |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
AV. BASILÉIA,590 |
|
ZIP CODE/CITY: |
27521-210 RESENDE/RJ |
|
PHONE: |
24 358-5500 |
|
CNPJ: |
31.452.113/0012-04 |
|
|
|
|
ADDRESS: |
AV. JORGE BEI MALUF,2 |
|
ZIP CODE/CITY: |
08675-970 SUZANO/SP |
|
PHONE: |
11 4745-8000 |
|
CNPJ: |
31.452.113/0013-95 |
|
|
|
|
ADDRESS: |
RODOVIA WASHINGTON LUIZ, KM,20 - XEREM |
|
ZIP CODE/CITY: |
25240-000 DUQUE DE CAXIAS/RJ |
|
PHONE: |
21 679-1918 |
|
CNPJ: |
31.452.113/0005-85 |
|
|
|
|
ADDRESS: |
RUA BENTO DE ANDRADE FILHO,488 |
|
ZIP CODE/CITY: |
04757-000 SÃO PAULO/SP |
|
PHONE: |
11 5683-7233 |
|
CNPJ: |
3145211300155 |
|
THE COMPANY ALSO HAS OTHER 07 BRANCHES LOCATED IN BELO HORIZONTE/MG,
BLUMENAU/SC, CURITIBA/PR, MACAÉ/RJ, NOVO HAMBURGO/RS, RECIFE/PE AND RIO DE
JANEIRO/RJ. |
LEGAL DATA
MAIN ACTIVITIES:
-------------------
MANUFACTURE OF CHEMICALS.
|
LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
01/07/1995 |
|
REGISTER DATE: |
01/07/1995 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
31.452.113/0001-51 |
|
STATE REGISTER: |
115.019.246-110 |
|
|
|
|
SHARE CAPITAL: |
R$
159.650.000,00 |
|
LAST REGISTER OF CAPITAL: |
15/05/2006 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
GÜNTER ARTUR MARTIN (GERMAN) |
PRESIDENT DIRECTOR |
|
MATTHIAS TÖPELMANN (GERMAN) |
DIRECTOR |
AUTHORIZED USE OF
SIGNATURE
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
CLARIANT INTERNATIONAL AG, (SWITZERLAND) |
53,6706% |
|
CLARIANT AG, (SWITZERLAND) |
46,3240% |
|
CLARIANT CONSULTING AG, (SWITZERLAND) |
0,0054% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
FUCHS DO BRASIL S/A |
|
|
CLARIANT VENEZUELA S/A |
|
|
CLARIANT CANADA |
|
|
CLARIANT COMERCIAL LTDA |
|
|
CLARIANT CHINA |
|
|
CLARIANT - SUCURSAL ARGENTINA |
|
|
CLARIANT GMBH |
|
|
CLARIANT CORPORATION |
|
|
CLARIANT LTDA |
|
|
CLARIANT ARGENTINA S/A |
|
|
CLARIANT SWITZERLAND LTD |
|
|
CLARIANT COLOMBIA S/A |
|
|
CLARIANT COLORQUIMICA |
|
|
QUIMICA CLARIANT DE MÉXICO |
|
|
CLARIANT PERU |
|
|
CLARIANT GUATEMALA |
|
|
AMONG OTHERS. |
|
COMPANY'S BACKGROUND
|
THE SUBJECT IS A SUBSIDIARY OF CLARIANT GROUP A GROUP KNOWN WORLDWIDE
AS A LEADING GROUP IN ITS LINE OF BUSINESS. IT HAS ABOUT 29.000 EMPLOYEES AND
SALES OF OVER US$ 6 BILLION. IN BRAZIL THE SUBJECT WAS ESTABLISHED AFTER THE DIVISION OF THE
CHEMICAL PRODUCTS DIVISION OF THE COMPANY SANDOZ IN JULY 1995 AND WITH THE
ADDING OF THE BUSINESS IN THE FIELD OF SPECIAL CHEMICALS OF THE COMPANY
HOECHST IN JULY 1997. THE SUBJECT'S PARENT COMPANY IS LOCATED IN MUTTENZ, SWITZERLAND AND IT
OPERATES ABOUT 130 FACTORIES IN OVER 90 COUNTRIES. THE BUSINESS ADDRESS WAS RELOCATED FROM RUA INOCENCIO TOBIAS BARRA
FUNDA 01144-000 BARRA FUNDA SAO PAULO SP TO AV. DAS NAÇÕES UNIDAS,18001 -
SANTO AMARO AS SHOWED AT THE CAPTION A YEAR AGO. FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
FEDERAL LAWSUIT |
31/12/04 |
2ª VARA DE SP-SÃO PAULO |
FINANCIAL INFORMATION
|
GENERAL BALANCE SHEETS AS OF 31/12/2005, 31/12/2004 AND 31/12/2003. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
|
|
|
|
|
CASH AND BANKS |
4.086 |
2.106 |
2.009 |
|
CLIENTS |
97.193 |
138.071 |
123.006 |
|
INVENTORY |
148.381 |
173.387 |
162.993 |
|
RECOVERABLE TAXES |
31.448 |
31.821 |
25.672 |
|
DEFERRED TAXES |
9.764 |
12.271 |
9.665 |
|
OTHER |
10.903 |
9.515 |
11.915 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
301.775 |
367.171 |
335.260 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
DEFERRED TAXES |
36.565 |
34.060 |
45.032 |
|
JUDICIAL DEPOSITS |
3.242 |
2.364 |
2.610 |
|
OTHER CREDITS |
|
|
3.629 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
39.807 |
36.424 |
51.271 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
|
3.526 |
2.842 |
|
FIXED ASSETS |
204.340 |
201.865 |
186.642 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
204.340 |
205.391 |
189.484 |
|
|
=============== |
=============== |
=============== |
|
TOTAL ASSETS |
545.922 |
608.986 |
576.015 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
|
|
|
|
|
SUPPLIERS |
93.503 |
126.233 |
93.907 |
|
LABOR OBLIGATIONS |
10.593 |
15.176 |
6.041 |
|
TAXES & CONTRIBUTIONS |
3.653 |
1.629 |
5.946 |
|
LOANS AND FINANCING |
43.458 |
13.078 |
|
|
PROVISIONS |
13.522 |
12.390 |
11.922 |
|
INTERESTS ON OWN CAPITAL |
20.674 |
18.030 |
7.864 |
|
OTHER |
428 |
1.712 |
8.603 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
185.831 |
188.248 |
134.283 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
|
39.339 |
80.695 |
|
PROVISION FOR CONTINGENCIES |
123.239 |
115.186 |
143.408 |
|
OTHER |
|
200 |
1.400 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
123.239 |
154.725 |
225.503 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
156.889 |
159.650 |
159.650 |
|
CAPITAL RESERVES |
1 |
1 |
1 |
|
PROFIT RESERVES |
9.784 |
9.438 |
5.434 |
|
ACCRUED PROFIT (LOSS) |
70.178 |
96.924 |
51.144 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
236.852 |
266.013 |
216.229 |
|
|
=============== |
=============== |
=============== |
|
TOTAL LIABILITIES |
545.922 |
608.986 |
576.015 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2005, 31/12/2004 AND 31/12/2003. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
|
|
|
|
|
|
|
|
|
|
GROSS SALES |
1.327.400 |
1.465.687 |
1.190.594 |
|
(-) TAXES ON SALES |
279.507 |
313.837 |
203.972 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
1.047.893 |
1.151.850 |
986.622 |
|
(-) COST OF SOLD GOODS |
826.292 |
841.942 |
728.101 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
221.601 |
309.908 |
258.521 |
|
OPERATING REVENUE (EXPENSE) |
-212.340 |
-198.810 |
-152.821 |
|
FINANCIAL REVENUE(EXPENSE) |
-2.592 |
-1.319 |
-11.335 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
6.669 |
109.779 |
94.365 |
|
NON-OPERATING RESULT |
96 |
265 |
24 |
|
CONTRIBUTION/INCOME TAX |
158 |
-29.977 |
-29.940 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
6.923 |
80.067 |
64.449 |
|
RATIOS: |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
QUICK RATIO |
,83 |
|
1,03 |
|
1,28 |
|
|
CURRENT RATIO |
1,62 |
|
1,95 |
|
2,50 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
10,78 |
TIMES |
8,34 |
TIMES |
8,02 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
33,39 |
DAYS |
43,15 |
DAYS |
44,88 |
DAYS |
|
INVENTORY TURNOVER |
5,57 |
TIMES |
4,86 |
TIMES |
4,47 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
40,74 |
DAYS |
53,98 |
DAYS |
46,43 |
DAYS |
|
RETURN ON ASSETS |
1,92 |
TIMES |
1,89 |
TIMES |
1,71 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
4,42 |
TIMES |
4,33 |
TIMES |
4,56 |
TIMES |
|
NET WORTH TIE-UP |
,86 |
|
,76 |
|
,86 |
|
|
INDEBTEDNESS |
1,30 |
|
1,29 |
|
1,66 |
|
|
EQUITY RATIO |
43,39 |
% |
43,68 |
% |
37,54 |
% |
|
WORKING CAPITAL RATIO |
62,39 |
% |
95,05 |
% |
149,67 |
% |
|
GENERAL SOLVENCY |
1,77 |
|
1,78 |
|
1,60 |
|
|
RETURN ON NET EQUITY |
2,92 |
% |
30,10 |
% |
29,81 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
,66 |
% |
6,95 |
% |
6,53 |
% |
|
GROSS PROFIT MARGIN |
21,15 |
% |
26,91 |
% |
26,20 |
% |
|
OPERATIONAL RESULT |
,64 |
% |
9,53 |
% |
9,56 |
% |
|
SALES TURNOVER ON LIABILITIES |
5,64 |
TIMES |
6,12 |
TIMES |
7,35 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,06 |
- OFFICIAL RATE ON 27/03/2007 |
|
US$ 1,00 = R$ 2,34 |
- OFFICIAL RATE ON 31/12/2005 |
|
US$ 1,00 = R$ 2,65 |
- OFFICIAL RATE ON 31/12/2004 |
|
US$ 1,00 = R$ 2,88 |
- OFFICIAL RATE ON 31/12/2003 |
|
US$ 1,00 = R$ 2,08 |
- OFFICIAL RATE ON 26/02/2007 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. DESPITE THE
SOMEHOW HIGH LEVEL OF INDEBTEDNESS, IT IS NOTED GOOD LIQUIDITY RATIOS AND
HIGH WORKING CAPITAL AMOUNT AS WELL AS AND PROFITABILITY. THE SALES DECREASED BUT IT IS STILL HIGH AND NO SIGNS OF FINANCIAL OR
OPERATIONAL PROBLEMS ARE NOTED. REMARKS: THE 2006 ANNUAL BALANCE SHEET IS NOT READY YET. |
REAL ESTATE:
OWNED PREMISES ARE VALUED AT
R$ 85.112.000,00
VEHICLES:
OWNED VEHICLES ARE VALUED AT
R$ 3.554.000,00
MACHINES:
OWNED MACHINES AND EQUIPMENTS
ARE VALUED AT R$ 237.382.000,00
INSURANCE
|
INSURANCE COMPANY: |
ZURICH BRASIL SEGUROS S/A |
|
COVERAGE: |
FIXED ASSETS AND INVENTORIES |
|
EXPIRATION: |
NOT AVAILABLE |
BANKING REFERENCES
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO DO BRASIL S/A |
CORPORATE / 11 3174-9655 |
SÃO PAULO/SP |
|
BANCO CITIBANK S/A |
PAULISTA / 11 5576-1000 |
SÃO PAULO/SP |
|
BANCO ABN AMBRO REAL S/A |
CORPORATE / 11 3174-9655 |
SÃO PAULO/SP |
|
BANCO BRADESCO S/A |
CORPORATE / 11 2128-4500 |
SÃO PAULO/SP |
|
BANCO ITAÚ BBA S/A |
11 3708-8755 |
SÃO PAULO/SP |
|
BANCO BNP PARIBAS BRASIL S/A |
CORPORATE / 11 3841-3100 |
SÃO PAULO/SP |
|
REMARKS: * IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION
OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE
ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). DATE RESEARCHED: MARCH 28, 2007. |
ACTIVITIES COMMENTS
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF CHEMICALS. IT HAS 6 BUSINESS DIVISIONS: - LIFE SCIENCE & ELECTRONIC CHEMICALS - TEXTILE, LEATHER & PAPER CHEMICALS - MASTERBATCHES - PIGMENTS - FUNCTIONAL CHEMICALS - CELLULOSE ETHERS & POLYMERISATES |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
UNITED STATES, MALAYSIA, GERMANY, SINGAPORE AND INDIA. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
CITY: |
|
|
BASF S/A |
SÃO BERNARDO DO CAMPO/SP |
|
|
BAYER CROPSCIENCE |
SÃO PAULO/SP |
|
|
CIA, VALE DO RIO DOCE |
LONDRINA/PR |
|
|
IGL INDUSTRIAL LTDA |
VINHEDO/SP |
|
|
PETROBRÁS DISTRIBUIDORA S/A-BR |
RIO DE JANEIRO/RJ |
|
|
PROCTER & GAMBLE S/A |
SÃO PAULO/SP |
|
|
RENNER SAYERLACK S/A |
GRAVATAÍ/RS |
|
|
SAMARCO MINERAÇÃO S/A |
MARIANA/MG |
|
|
VICUNHA TÊXTIL S/A |
SÃO PAULO/SP |
|
|
VOTORANTIM CELULOSE E PAPEL S/A |
RIBEIRÃO PRETO/SP |
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 1825 EMPLOYEE(S) |
CONCEPT AND
FULFILMENT
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY MEMBER OF AN IMPORTANT
MULTINATIONAL GROUP WITH AN EXCELLENT TRADE REPUTATION WORLDWIDE. OUR INVESTIGATION SHOWED THE SUBJECT HAS TRADE RELATIONS WITH SEVERAL
SUPPLIERS AND CREDIT FACILITIES ARE EXTENDED ACCORDING TO THE SUBJECT'S
NEEDS. AS MOST OF THE SUPPLIERS, WHICH PROVIDED INFORMATION REPORTED PROMPT
PAYMENTS, IT MAY BE NOTED SUBJECT AS VERY GOOD TRADE BEHAVIOUR. THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO
TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE
POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY'S TRADE
REPUTATION. THE PROTEST FOUND IS CONSIDERED IRRELEVANT. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
CITY: |
|
|
AIR LIQUIDE |
SÃO PAULO/SP |
|
|
BASF S/A |
SÃO BERNARDO DO CAMPO/SP |
|
|
CARBOCLORO S/A IND.QUÍMICAS |
SÃO PAULO/SP |
|
|
DOW QUÍMICA S/A |
SÃO PAULO/SP |
|
|
EXXON MOBIL QUÍMICA
LTDA |
SÃO PAULO/SP |
|
|
INNOVA S/A |
SÃO PAULO/SP |
|
|
LYONDELL QUIMICA DO BRASIL LTDA |
SÃO PAULO/SP |
|
|
METALÚRGICA BARRA DO PIRAÍ LTDA |
SÃO PAULO/SP |
|
|
OXITENO S/A INDÚSTRIA E COMÉRCIO |
SÃO PAULO/SP |
|
|
RHODIA BRASIL LTDA |
SÃO PAULO/SP |
|
|
SOLVAY INDUPA BRASIL S/A |
SÃO PAULO/SP |
|
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
|
|
BAYER AG |
LUDWIGSHAFE, GERMANY |
|
|
CELANESE LTD |
DALLAS, USA |
|
|
COGNIS OLEOCHEMICALS (M) SDN BHD |
SELANGOR, MALAYSIA |
|
|
ECKART GMBH & CO. |
FUERTH, GERMANY |
|
|
ECOGREEN OLEOCHEMICAL (S) PTE |
SINGAPORE, SINGAPORE |
|
|
GODREJ INDUSTRIES LTD |
MUMBAI, INDIA |
|
|
LANXESS DEUTSCHLAND GMBH |
LEVERKUSEN, GERMANY |
|
|
PROCTER & GAMBLE DISTRIB COMPANY |
NEW MILFORD, USA |
|
|
THE DOW CHEMICAL CORPORATION |
MICHIGAN, USA |
|
|
VASANT CHEMICALS LTD |
BEGUMPET, HYDERABAD, INDIA |
|
|
PAYMENT HISTORY: |
|
43 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 7.066.492,00 |
|
|
|
AMOUNT OF INVOICES PAID: 822 |
|
TOTAL OF PROMPT PAYMENTS: 99,9% |
|
TOTAL OF DELAYED PAYMENTS: 0,1% |
|
|
|
HIGHEST INVOICE: R$ 101.280,00 |
|
HIGHEST CREDIT: R$ 562.416,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
ALL |
10 |
51 |
R$ 798.719,00 |
|
DUE WITHIN 30 DAYS |
10 |
51 |
R$ 798.719,00 |
FINAL OPINION
|
THE SUBJECT IS A TRADITIONAL AND WELL-ESTABLISHED COMPANY MEMBER OF AN
IMPORTANT MULTINATIONAL GROUP. IT HAS A HIGH SCALE OF OPERATIONS AND A HUGE
FINANCIAL POWER. BASED ON THE OVERALL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S SIZE AND FINANCIAL STRENGTH. DUE TO THE SUBJECT HUGE FINANCIAL POWER A MAXIMUM CREDIT WILL NOT BE
FIXED. AN INITIAL MONTHLY CREDIT LIMIT OF USD 3.000.000,00 / 5.000.000,00 MAY
BE CONSIDERED. |
|
|
|
|
|
|
|
|
|
BALANCE SHEET ANALYSIS FIGURES ARE IN THOUSANDS
OF REAIS |
||||||
|
|
31-12-05 |
|
31-12-04 |
|
31-12-03 |
|
|
ASSETS |
|
% |
|
% |
|
% |
|
Current Assets |
55.28 |
$
367,171 |
60.29 |
$
335,260 |
58.20 |
|
|
Fixed Assets |
$
204,340 |
37.43 |
$
205,391 |
33.73 |
$
189,484 |
32.90 |
|
TOTAL ASSETS |
$
545,922 |
100.00 |
$
608,986 |
100.00 |
$
576,015 |
100.00 |
|
LIABILITIES |
|
|
|
|
|
|
|
Current Liabilities |
$
185,831 |
34.04 |
$
188,248 |
30.91 |
$
134,283 |
23.31 |
|
Long-Term Liabilities |
$
123,239 |
22.57 |
$
154,725 |
25.41 |
$
225,503 |
39.15 |
|
TOTAL LIABILITIES |
$
309,070 |
56.61 |
$
342,973 |
56.32 |
$
359,786 |
62.46 |
|
Deferred Income |
$
- |
0.00 |
$
- |
0.00 |
$
- |
0.00 |
|
Net Equity |
$
236,852 |
43.39 |
$
266,013 |
43.68 |
$
216,229 |
37.54 |
|
TOTAL LIABILITIES + NET EQUITY |
$
545,922 |
100.00 |
$
608,986 |
100.00 |
$
576,015 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
|
|
|
Net Sales |
$
1,047,893 |
100.00 |
$
1,151,850 |
100.00 |
$
986,622 |
100.00 |
|
Costs |
$
826,292 |
78.85 |
$
841,942 |
73.09 |
$
728,101 |
73.80 |
|
Gross Profit |
$ 221,601 |
21.15 |
$
309,908 |
26.91 |
$
258,521 |
26.20 |
|
Operating expenses |
$
(212,340) |
|
$
(198,810) |
|
$
(152,821) |
|
|
operational Result |
$
6,669 |
|
$
109,779 |
|
$
94,365 |
|
|
Net Profit (loss) |
$ 6,923
|
|
$
80,067 |
|
$
64,449 |
|
|
COMPLEMENTARY DATA |
|
|
|
|
|
|
|
Inventory |
$
148,381 |
|
$
173,387 |
|
$
162,993 |
|
|
Accounts receivable |
$
97,193 |
|
$
138,071 |
|
$
123,006 |
|
|
Accounts Payable |
$
93,503 |
|
$
126,233 |
|
$
93,907 |
|
|
Property, plant and equipment |
$
204,340 |
|
$
201,865 |
|
$
186,642 |
|
|
Purchases |
$
204,340 |
|
$
205,391 |
|
$
189,484 |
|
|
Financial Expenses |
$
(2,592) |
|
$
(1,319) |
|
$
(11,335) |
|
|
Foreign Currency Assets |
|
|
|
|
|
|
|
Foreign Currency Liabilities |
|
|
|
|
|
|
|
Working Capital |
$
115,944 |
|
$
178,923 |
|
$
200,977 |
|
|
RATIOS: |
|
|
|
|
|
|
|
QUICK RATIO |
0.83 |
|
1.03 |
|
1.28 |
|
|
CURRENT RATIO |
1.62 |
|
1.95 |
|
2.50 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
10.78 |
times |
8.34 |
times |
8.02 |
times |
|
DAYS' SALES IN RECEIVABLES |
33.39 |
days |
43.15 |
days |
44.88 |
days |
|
INVENTORY TURNOVER |
5.57 |
times |
4.86 |
times |
4.47 |
times |
|
40.74 |
days |
53.98 |
days |
46.43 |
days |
|
|
RETURN ON ASSETS |
1.92 |
times |
1.89 |
times |
1.71 |
times |
|
SALES TURNOVER ON NET EQUIY |
4.42 |
times |
4.33 |
times |
4.56 |
times |
|
NET WORTH TIE-UP |
0.86 |
|
0.76 |
|
0.86 |
|
|
ENDEBTEDNESS |
1.30 |
|
1.29 |
|
1.66 |
|
|
EQUITY RATIO |
43.39 |
% |
43.68 |
% |
37.54 |
% |
|
WORKING CAPITAL RATIO |
62.39 |
% |
95.05 |
% |
149.67 |
% |
|
GENERAL SOLVENCY |
1.77 |
|
1.78 |
|
1.60 |
|
|
RETURN ON NET EQUITY |
2.92 |
% |
30.10 |
% |
29.81 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
0.66 |
% |
6.95 |
% |
6.53 |
% |
|
GROSS PROFIT MARGIN |
21.15 |
% |
26.91 |
% |
26.20 |
% |
|
OPERATIONAL RESULT |
0.64 |
% |
9.53 |
% |
9.56 |
% |
|
SALES TURNOVER ON LIABILITIES |
5.64 |
times |
6.12 |
times |
7.35 |
times |
|
FOREIGN CURRENCY ON ASSETS |
-
|
% |
-
|
% |
-
|
% |
|
FOREIGN CURRENCY ON LIABILITIES |
-
|
% |
-
|
% |
-
|
% |
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%)