MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARICHEM-MARIGASES HELLAS S.A. |
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Registered Office : |
64-66,
Sfaktirias Street, Piraeus, 18533 Piraeus |
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Country : |
Greece |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
47522/02/B/00/145 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Trade of Chemical Products and Ship Supplies |
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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Maximum Credit Limit : |
EUR 170.000. |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
MARICHEM-MARIGASES
HELLAS S.A.
ADDRESS:
64-66,
Sfaktirias street
PIRAEUS
18533
PIRAEUS-GREECE
TELEPHONE:
30210-4632546
TELEFAX : 302104133985
CURRENCY:
Any amounts hereafter are in EURO unless otherwise stated.
EVALUATION
CONDITION:
STRONG
CREDIT:
Maximum EUR 170.000.-
The
Dun & Bradstreet Rating of C1 Indicates:
A
Financial Strength of USD 175 - 350 thousand (based on Net Worth)
and an
Overall Condition which is STRONG (Minimal risk).
SUMMARY
STARTED:
2000
SALES
IN: 2007/01-2007/12
-5,531,085 -
YEAR
INC: 1997
PROFIT: 450,899
LEGAL
FORM: Societe
Anonyme NET WORTH: 356,553
REG
NO: 47522/02/B/00/145
NOM CAPITAL: 293,500
CAPITAL:
293,500
GOVT
GAZ NO: 11085/2000.12.04
PAID CAPITAL: ALL
VAT
NUMBER: 095701674
EMPLOYS: 40
SIC: 5169
ACTIVITY:
Trade of chemical
products and ship supplies
SPECIAL EVENTS
No
special event posted against this company.
BANKERS
ALPHA
BANK-PIRAEUS BRANCH
HSBC-PIRAEUS
BRANCH
MANAGEMENT COMMENT
This
company is too young to publish financial information.
Name
and title of interviewee : Mrs.Vergi - Accountant
PRINCIPALS
Meimetis
Stavros Georg.,4, Koumarias str., Ekali,chairm&man.director
Meimeti
Stavroula wife St.,4, Koumarias str., Ekali,vice chairman
Meimeti
Ioanna Stavr.,4, Koumarias str., Ekali,member
Meimetis
George Stavr.,4, Koumarias str., Ekali,member
Reklitis Timotheos Dion.,130, Karaiskou str.,
Piraeus,member
HISTORY/OPERATIONS
Subject
was founded in 2000, as a Societe Anonyme, under the title in caption, for a
40-year period, with head
office
in Piraeus and main line of business the production and trade of chemical
products.
It was
formed by the conversion of the previous Limited
Liability
Company "MARICHEM-MARIGASES HELLAS LTD", started n 1997 (Gov.Gazette
1475/1997) DUNS 72-844-9443.
In
2004 (Government Gazette 1049/2004), subject's Share
Capital
was defined to euros 293.500.-
Subject
is legally represented by Meimetis Stavros and Anna
(Government
Gazette 10672/2006)
SHAREHOLDERS/OWNERS
Meimetis
Stavros Georg.,4, Koumarias str., Ekali,
1945
Meimeti
Stavroula wife St.,4, Koumarias str., Ekali,
1957
Meimeti
Ioanna Stavr.,4, Koumarias str., Ekali,
1977
Meimetis
George Stavr.,4, Koumarias str., Ekali,
1979
Reklitis
Timotheos Dion.,130, Karaiskou str., Piraeus,
1969
OPERATIONS
Subject
has been operating:
-
offices, at the address in caption,
-
storeroom, at 75, Dragatsaniou street, Piraeus,
-
storeroom, at 15, Thesmoforiou street, Piraeus.
Engaged
in importing and trading (wholesale) chemicals
for
ships (conservating and cleaning goods, varnishes for
ships),
gazes, ship supplies (cutting and welding tools,
absorbing
materials).
Imports
from Italy, Switzerland, Austria, Sweden, U.K.,
Spain
and Denmark.
Suppliers
: "KARARA" (Italy), "KENT" (Denmark).
Terms
of imports : Engagement Letters (90 days) or
Cash against Documents.
Exports
(85% of total sales) to all over the world.
Terms
of exports : Open Credit.
STAFF
: 40 people.
Notes:
*
E-mail address: mail@marichem-marigases.com
* Web-site: www.marichem-marigases.com
NACE CODE : 51.55
REAL
ESTATE
It is
no owner of any real estate.
Meimetis
Stavros is owner of :
- a
ground plot (m2 170), with a 4-storey building, at the
address in caption,
- a
ground plot (m2 1.045), in Koumaries area, Ekali, Attica
- a plant,
on a ground plot (m2 187), at 66, Sfaktirias
street, Piraeus,
- a
ground plot (m2 103), with a building, on Trochiodromiou
street, Piraeus.
Against
the above real estate have been recorded notices
for
mortgage.
He is
reported as owner of:
- two
ground plots (m2 680, each), in Avgi area, Kifissia,
Athens,
- a
ground plot (m2 602), in Evryali area, Glyfada, Athens,
- a
ground plot (m2 1.022), at 44, Char.Trikoupi street,
Glyfada, Athens.
CORPORATE STRUCTURE
There
are no affiliations or other participations.
PUBLIC NOTICE INFORMATION
=============================================================================
MEIMETIS
STAVROS GEOR.
YEAR PIECES AMOUNT IN EURO.
Notices for mortgage 1996 4
968,451
FINANCIAL INFORMATION
Nothing
adverse has been reported.
Subject's
Share Capital is Euros 293.500.-, divided to
10.000
shares, valued in Euros 29,35.-, each.
The
above mentioned shareholders hold 100% of subject's
shares.
Name
and title of interviewee : Mrs.Vergi - Accountant
BALANCE
SHEET
December 2007
December 2006 December 2005
ASSETS
NON
PAID UP CAPIT. 0 0 0
ESTABLISH.
EXPENC. 1 0 0
NET
INTABL.ASSETS. 0 0 0
NET
FIXED ASSETS.. 241,273 221,341 275,445
PARTIC.&L/T
CLAIMS 12,281 11,681 2,615
CURRENT
ASSETS
Stocks............ 615,257 642,498
179,118
CLAIMS
Clients........... 671,145 408,639
497,993
Bills/cheques
rec. 63,810 44,929 64,230
Bad
debt.......... 0 0 0
Other
claims...... 167,983 204,894 192,315
TOTAL
CLAIMS...... 902,938 658,462 754,538
Bonds
& securities 0 0 0
Cash
& banks...... 280,968 96,854 163,064
TOTAL
CURR.ASSETS. 1,799,163 1,397,814 1,096,720
TRINSIT.ACCOUNTS.. 0 0 0
TOTAL
ASSETS...... 2,052,718 1,630,836 1,374,780
LIABILITIES
PROVISIONS........ 0 0 0
L/T
LIABILITIES... 0 0 0
CURR.LIABILITIES
Suppliers......... 696,307 641,822
498,534
Bills/cheq.payable 236,698 228,504
136,427
Banks............. 0 0 0
Dividends......... 554,470 301,733
207,658
Various
creditors. 0 0 0
Oth.curr.liabil... 208,690 119,132
200,088
TOTAL
CURR.LIABIL. 1,696,165 1,291,191 1,042,707
TRINSIT.ACCOUNTS.. 0 0 0
TOTAL
LIABILITIES. 1,696,165 1,291,191 1,042,707
NET
WORTH
Paid up
capital... 293,500 293,500 293,500
Share
pr.ab.nomin. 0 0 0
Revaluation
reser. 0 0 0
Reserves.......... 63,053 46,145 38,573
Retained
profit... 0 0 0
Accumulated
losses 0 0 0
Dep.for
cap.incr.. 0 0 0
TOTAL
NET WORTH... 356,553 339,645 332,073
PROF/LOSS
ACCOUNTS
Sales............. 5,531,085 3,961,509
5,137,346
Cost of
sales..... 3,688,438 2,534,699 3,687,484
GROSS
INC.ON SALES 1,842,647 1,426,810 1,449,862
OPERATING
INCOME.. 443,731 204,165 251,422
PROFIT
BEFORE TAX. 450,899 213,315 321,453
COMPANY & INDUSTRY FINANCIAL
RATIOS
INDUSTRY
SECTOR OF COMPARISON(SIC): 51
COMPARABLE
BUSINESSES IN INDUSTRY SECTOR: 1464
PERIOD December 2007
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE QUARTILE
I.PROFITABILITY
Return
on equity.. 126,46 % % 12,43 % 35,97 %
Return
on equity +
L/T liabilities. 126,46 % 1,44
% 9,66 % 30,16 %
Gross
incoming +
sales ratio..... 33,31 % 10,97
% 20,73 % 34,52 %
Oper.inc.to
sales+
ratio........... 8,02 % 0,16
% 1,86 % 5,26 %
Pr/loss
bef.tax. +
sales ratio..... 8,15 % 0,20
% 1,66 % 4,99 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,21 : 1 0,12 :
1 0,27 : 1 0,71 : 1
Net
fix+net int to
total assets rat 0,12 : 1 0,03 :
1 0,10 : 1 0,26 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 1,40 : 1 1,11 :
1 2,30 : 1 6,36 : 1
III.LIQUIDITY
Current
ratio..... 1,06 : 1 1,01 : 1 1,16 : 1 1,55 : 1
Acid
test ratio... 0,69 : 1 0,71 : 1 0,92 : 1 1,21 : 1
IV.
TURNOVER
Aver.collec.period 58,76 d. 240,24 d. 147,94 d. 74,79 d.
Average
period of
purchases outst. 91,06 d. 168,47
d. 91,05 d. 35,52 d.
Aver.stocks
hold.
period......... 60,05 d. 127,00
d. 58,00 d. 22,04 d.
Sales
to net work
capital ratio.. 53,70 : 1 13,51 :
1 4,20 : 1 0,18 : 1
PERIOD December 2006
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE QUARTILE
I.PROFITABILITY
Return
on equity.. 62,80 % 2,06 % 12,04 % 36,04 %
Return
on equity +
L/T liabilities. 62,80 % 1,65
% 10,07 % 31,55 %
Gross
incoming +
sales ratio..... 36,01 % 11,34
% 20,76 % 33,99 %
Oper.inc.to
sales+
ratio........... 5,15 % 0,19
% 2,00 % 5,44 %
Pr/loss
bef.tax. +
sales ratio..... 5,38 % 0,23
% 1,73 % 5,11 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,26 : 1 0,13 :
1 0,30 : 1 0,77 : 1
Net
fix+net int to
total assets rat 0,14 : 1 0,03 :
1 0,11 : 1 0,27 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 1,45 : 1 1,07 :
1 1,93 : 1 6,00 : 1
III.LIQUIDITY
Current
ratio..... 1,08 : 1 1,00 : 1 1,15 : 1 1,47 : 1
Acid
test ratio... 0,58 : 1 0,69 : 1 0,90 : 1 1,15 : 1
IV.
TURNOVER
Aver.collec.period 59,83 d. 227,40 d. 138,29
d. 73,56 d.
Average
period of
purchases outst. 123,61 d. 170,43
d. 91,28 d. 40,96 d.
Aver.stocks
hold.
period......... 91,25 d. 124,92
d. 58,00 d. 21,86 d.
Sales
to net work
capital ratio.. 37,15 : 1 14,27 : 1 4,30 : 1 0,00 : 1
PERIOD December 2005
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 96,80 % 2,89 % 15,88 % 42,19 %
Return
on equity +
L/T liabilities. 96,80 % 2,23
% 14,08 % 39,73 %
Gross
incoming +
sales ratio..... 28,22 % 11,66
% 20,66 % 33,86 %
Oper.inc.to
sales+
ratio........... 4,89 % 0,49
% 2,63 % 6,79 %
Pr/loss
bef.tax. +
sales ratio..... 6,25 % 0,45
% 2,40 % 6,49 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,31 : 1 0,14 :
1 0,31 : 1 0,75 : 1
Net
fix+net int to
total assets rat 0,20 : 1 0,03 :
1 0,11 : 1 0,28 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 1,19 : 1 1,10 :
1 1,94 : 1 5,94 : 1
III.LIQUIDITY
Current
ratio..... 1,05 : 1 1,01 : 1 1,15 : 1 1,46 : 1
Acid
test ratio... 0,88 : 1 0,71 : 1 0,90 : 1 1,15 : 1
IV.
TURNOVER
Aver.collec.period 52,87 d. 215,15 d. 128,65
d. 69,98 d.
Average
period of
purchases outst. 61,98 d. 162,02
d. 91,55 d. 41,31 d.
Aver.stocks
hold.
period......... 17,48 d. 122,96
d. 58,36 d. 22,72 d.
Sales
to net work
capital ratio.. 95,11 : 1 14,05 :
1 4,74 : 1 0,07 : 1
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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 |
|
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. |
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 |
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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%)