MIRA INFORM REPORT

 

 

Report Date :

19.12.2008

 

IDENTIFICATION DETAILS

 

Name :

PAPADIMITRIOU S.A.                                               

 

 

Registered Office :

Industial Area of Sindos, 57022 Sindos, Thessaloniki

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2007

 

 

Year of Establishment :

1999 

 

 

Com. Reg. No.:

41825

 

 

Legal Form :

Societe Anonyme            

 

 

Line of Business :

Engaged in Food Preparations

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

PAPADIMITRIOU S.A.                                               

INDUSTIAL AREA OF SINDOS

57022 SINDOS

THESSALONIKI

GREECE

TELEPHONE:          30  2310-798210

                               30  2310-797388

                               30  2310-797688

TELEFAX:                30  2310-796271

E-MAIL ADDRESS:     info@papadimitriou.com.gr

WEB ADDRESS:        www.papadimitriou.com.gr

 

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

 

 

summary

 

STARTED:               1999                       

YEAR INC:              1999                       

LEGAL FORM:         SOCIETE ANONYME            

REG NO:                 41825                      

NOM CAPITAL:       720,880

ISS CAPITAL:         720,880

EMPLOYS:              14

ACTIVITY:                 ENGAGED IN FOOD PREPARATIONS

 

 

PRINCIPALS

 

GEORGIOS PAPADIMITRIOU

chairman

Legal representative

         

GRAMMATIKI PAPADIMITRIOU

vice-chairman

         

ARISTO PAPADIMITRIOU

managing director

Legal representative

         

PUBLIC RECORD INFORMATION

No protested bills have been reported.

  


 

HISTORY    

 

PRINCIPALS ANTECEDENTS

NAME: GEORGIOS PAPADIMITRIOU

Nationality: Greek

  

NAME: GRAMMATIKI PAPADIMITRIOU

Nationality: Greek

  

NAME: ARISTO PAPADIMITRIOU

Nationality: Greek

  

 

BACKGROUND

 

Business started Jan 05, 1999.

 

  

LEGAL FORM

 

Societe anonyme registered on Jan 05, 1999 in SINDOS for a period ending

Jan 05, 2049.

Registration Number: 41825

Government Gazette Number: 8/01,05,1999

Tax Registration Number: 094539460

 

 

CAPITAL

 

Nominal capital: 720,880 Euro. Issued capital: 720,880 Euro.

Issued/paid-up capital was last increased on Nov 21, 2005.

  

Nominal capital is divided into:

205,379 ordinary shares of 3.51 each.

  

 

 

OPERATIONS

 

Engaged in food preparations

Manufactures flavoring extracts and syrups

Wholesales chemicals and allied products

Process of spices & trade of raw materials for sausages

 

Number of accounts: 700

Exports 35% to Germany, Austria, Albania, Romania, Bulgaria, Ukraine,

Cyprus, Former Yugoslav Rep of Macedonia

Normal exporting terms are open account

  

Imports from Germany, Vietnam, Brazil, China, Malaysia, Belgium, Italy

Normal importing terms are 90 days

Normal importing terms are open account

  

EMPLOYS: 14.

  

Operates from owned office, at heading address.

REGISTERED OFFICE: Industial area of Sindos, 57022 SINDOS, THESSALONIKI.

 

 

FINANCES

 

                                 Fiscal              Fiscal             Fiscal

                           Dec 31, 2005        Dec 31, 2006       Dec 31, 2007

Turnover                      2,594,638           2,397,668          2,678,915

Pre-Tax Profit                  375,635             427,541            473,032

Net Worth                     1,310,061           1,468,924          1,571,872

Fixed Assets                    366,829             351,326            322,076

Total Assets                  2,064,603           1,971,241          2,172,134

Current Assets                1,688,821           1,610,961          1,841,105

Current Liabilities             754,228             502,214            600,156

Working Capital                 934,593           1,108,747          1,240,949

Long Term Debt                      313                 102                105

Financial Assets                  8,953               8,954              8,953

Intangibles                           0                   0                  0

 

Net Worth and Total Assets are tangible figures shown after the deduction of

intangible assets.

 

RATIOS

                                 Dec 31, 2005     Dec 31, 2006    Dec 31, 2007

Current Ratio (X)                        2.23             3.20            3.06

Solvency Ratio (%)                     157.59           134.19          138.18

Fixed Assets/Net Worth (%)              28.00            23.91           20.49

Current Liabs/Net Worth (%)             57.57            34.18           38.18

Asset Turnover (%)                     125.67           121.63          123.33

Sales / Net Working Cap (X)              2.77             2.16            2.15

Assets / Sales (%)                      79.57            82.21           81.08

Profit Margin (%)                       14.47            17.83           17.65

S/holders Return (%)                    28.67            29.10           30.09

Return On Assets (%)                    18.19            21.68           21.77

 

     Abstract from individual fiscal balance sheet as at Dec 31, 2007

 

          LIABILITIES                             ASSETS

Capital                        720,880   Misc Fixed Ass                 322,076

Legal Reserves                 356,743   Total Fixed Ass                322,076

Revaltn Reserve                 -9,060

Profit For Year                503,309   Investments                      8,953

Net Worth                    1,571,872   Total Fin'cl Ass                 8,953

 

Misc Provisions                    106

Misc Def Liabs                       0

 

     CURRENT LIABILITIES:                         CURRENT ASSETS:

Trade Creditors                 25,541   Stock                          406,240

Misc Creditors                 103,712   Trade Debtors                  644,226

Short term Loans                93,806   Misc Debtors                   543,752

Taxation                       130,643   Cash                           246,887

Proposed Dividends             246,454

 

TOTAL CURRENT                  600,156   TOTAL CURRENT                1,841,105

 

TOTAL LIABS & NW             2,172,134   TOTAL ASSETS                 2,172,134

 

          Profit & Loss Account from Jan 01, 2007 to Dec 31, 2007

 

          Net Sales                             2,678,915

          Cost of Goods Sold                    1,650,692

 

          Gross Profit                          1,028,223

          Selling/Admin Expenses                  553,239

 

          Net Operating Income                    474,984

 

          Interest Payable                          5,784

          Total Financial Expenses                  5,784

 

          Profit Before Taxes                     473,032

          Income Tax                              120,047

 

          Profit After Tax                        352,985

 

          Net Profit                              352,985

  

According to the balance sheet as of Dec 31, 2007.

Financial statement obtained from outside sources

 

local informants stated that:

On 1999-01-05 an official approval was published with reference to the

formation of subject out of the merger of PAPADIMITRIOU ARISTOTELIS GEOR.

MERGED On 1999-01-05 an official approval was published with reference to

the formation of subject out of the merger of PAPADIMITRIOU GRAMMATIKI A.T.

  

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.08

UK Pound

1

Rs.71.17

Euro

1

Rs.66.98

 

 

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.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions