MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
LABORATORIOS PORTUGAL S.R.L |
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Registered Office : |
Calle Miguel Grau 313-317, Urb. La Libertad, Cerro Colorado,
Arequipa/Arequipa |
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Country : |
Peru |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1958 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in manufacture
and commercialization of galenical products; generis products, toiletries and
specialized products |
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 : |
Usually Correct |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : LABORATORIOS PORTUGAL S.R.L.
TRADE NAME : "LABPORT SRL"
TAXPAYER REGISTRATION : RUC 20100204330
OPERATING STATUS : Active
MAIN ADDRESS : Calle Miguel Grau 313-317, Urb. La Libertad, Cerro Colorado
CITY/PROVINCE/STATE : Arequipa/Arequipa
COUNTRY : PERU
TELEPHONE : (511)25.1292
FAX : (511)25.1292
E - MAIL : labportugal@naturaperu.com.pe
WEB SITE : www.naturaperu.com
COMMENTS .-
Additional e-mail:
shuaman@naturaperu.com
SUMMARY
Incorporation :
1985
Operating Status : Active
Last Capital : S/.6,318,752.= Nuevos Soles
Shareholders' Equity : S/.9,179,020.= Nuevos Soles (31.12.2006)
Annual Sales : 43,952,093.00 Nuevos Soles
Finantial Situation : LIGHTLY FAIR
Employees : 250
Rating : Satisfactory
Payments : Usually to terms/good
QUALIFICATION
RATING : Satisfactory
PAYMENTS : Usually to terms/good
LEGAL BACKGROUNDS
LEGAL STATUS : Limited Liability Partnership
DATE OF INCORPORATION : 19AUG1988
REGISTERED IN : Arequipa
NOTARY OFFICE : Rosendo Fernández
DURATION : Indefinite
REGISTRATION : Page 242, Vol.42,
Entry 1/License No.18716
CURRENT PAID-IN CAPITAL : S/.6,318,752.= Nuevos Soles
SHAREHOLDERS' EQUITY : S/.9,179,020.= Nuevos Soles (As of 31.12.2006)
TYPE OF SHARES : Profit sharing
LISTED AT STOCK EXCHANGE: No
CURRENT EXCHANGE
RATE : S/.2.97 per US$1.= Dollar
DIRECTORS / EXECUTIVES /
SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
PORTUGAL RICKETTS, JOSE
ALONSO General
Manager 82.15%
PORTUGAL RICKETTS, JOSE
ALEJANDRO Partner 7.44%
LABORATORIOS NATURALES Y
GENERICOS S.A.C. Shareholder 10.41%
WHO IS WHO ?
PORTUGAL RICKETTS,
JOSE ALONSO
NATIONALITY : Peruvian
BORN : 16MAY1955
DOC. OF IDENT. : DNI 30849722
HOME ADDRESS : Ramón Castilla 441, Arequipa
Associated as per our database to :
Company Tax.
Reg. Country
LABORATORIOS NATURALES Y GENERICOS S.A.C. 20405976898 PERU
PORTUGAL RICKETTS, JOSE ALEJANDRO
NATIONALITY : Peruvian
DOC. OF IDENT. : DNI 29237842
HOME ADDRESS : Ramón Castilla 441, Arequipa TLF : 253106
RELATED COMPANY(IES)
COMPANY NAME
COUNTRY TAX.REG. RELATION
DISTRIBUIDORA DROGUERIA
PHRYMA S.A.C. PERU
Related
LABORATORIOS NATURALES Y
GENERICOS S.A.C. PERU 20405976898 Related
BUSINESS
MAIN ACTIVITY .-
Subject is engaged in manufacture and commercialization of galenical
products; generis products, toiletries and specialized products, such as
Paracetamol, panadol, uncaria tomentosa (cat's claw) capsules, lettuce creams,
nacar shell cream, sun blocks. Registered trademark: PORTUGAL, NATURGEN.
IMPORT : Yes (Chemical inputs from Romania, United Kingdom,
Thailand, Argentina, Colombia,
USA, Italy, Taiwan, France, India, China, Korea, Germany)
Annual Imports in US $(CIF) :
Year Amount
2004 380,440.00
2005 1,677,593.00
2006 2,446,163.00
2007 3,863,952.00
EXPORT : Yes (Pharmaceutical produts to Dominican Republic,
Lebanon, France, Japan, Taiwan,
Ecuador, Brazil, Belgium, Costa Rica, USA, Bolivia)
Annual Exports in US $(FOB) :
Year Amount
2004 293,872.00
2005 591,860.00
2006 801,525.00
2007 772,408.00
% CASH SALES/METHOD : 40% (Invoice at 30 days)
% CREDIT SALES/TERMS : 60% (Drafts at 60, 85 days)
% FOREIGN SALES(COUNTRIES) : 10%
% DOMESTIC PURCHASES : 20%
% FOREIGN PURCHASES : 80%
SELLING TERRITORY : 50% - Lima; 40% - rest of the country
EMPLOYEES : 250
FACILITIES .-
Area : 2,000 m2
Floors : 2
Condition : Good; concrete material
Use : Registered office, administrative offices, warehouses, and main plant
Remarks and other Premises .-
Facilities are owned by the partners. Formerly, they were located at
Peral 427 - Arequipa
There are other premises at Calle Miguel Grau 314, Urb.La Libertad, CerroColorado-Arequipa.
Rented facilities.
Subject said it has a second production plant located at Mza. A, Lotes
2 y 3, Distrit of Cerro Colorado Zona
Industrial de Río Seco. Land area of 4,500 m2. It was inaugurated from the
second quarter 2006. Plot of land is of approximately 4,500 m2 and is owned by
the partners.
There are branches in Chiclayo, Huancayo and Lima.
COMMENTS .-
Its main clients and distributors are:
- Fármacos del Norte Trujillo SRL
- Dimexa SA (Arequipa)
- Albis SA
- Norfarma SA (Chiclayo)
- Boticas Arcángel
- Essalud
- Distribuidora Droguería Phryma S.A. (related company)
FINANCIAL INFORMATION
At this opportunity, Mr. Saul Huaman Delgado (Accountant/Representative)
updated information and provided main accounts of the last Balance Sheet as of
31.12.2006 (12monts), expressed in Nuevos Soles, in comparison with those of
the previous fiscal year.
As continuing our
investigations, we found additional information included in this report.
BALANCE SHEET DATE : 31DEC2006 31DEC2005
31DEC2004
TYPE OF BALANCE SHEET : Annual
Annual Annual
BALANCE SHEET OF : 12
months 12 months 12 months
CURRENCY : Nuevos Soles
Nuevos Soles Nuevos Soles
(thousands) (thousands) (thousands)
EXCHANGE RATE PER US$ : 3.20 3.44 3.30
ASSETS
TOTAL CURRENT : 21,721 14,170
9,696
FIXED : 4,610 3,183 2,759
TOTAL ASSETS :
26,331 17,352 12,455
LIABILITIES
TOTAL CURRENT : 16,752 10,310
6,041
LONG TERM : 401 538
TOTAL EQUITY : 9,179 6,505 5,569
TOTAL LIABILITIES :
26,331 17,352 12,455
SALES :
43,952 29,438 20,000
PROFIT (LOSS) : 2,674 1,830 1,601
LIQUIDITY RATIO : 1.30 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY RATIO :
54.80% (Shareholders'equity/Current Liabilities)
PROFITABILITY MARGIN :
6.08% (Profits/Sales)
WORKING CAPITAL :
4,969,403.00 (Current Assets - Current Liabilities)
FINANCIAL SITUATION : LIGHTLY FAIR
INSURANCE .-
Company Against Amount Validity _
EL PACIFICO PERUANO SUIZA CIA.DE
SEGUROS Not specified Not specified Unknown
PAYMENTS RECORD
TRADE REFERENCES .-
Line of Credit Monthly Average _ Terms(days))
Performance? _ Time _ Products/Services Supplier
1 US$ Open US$ 6,000-10,000.=
Draft/60,90 Prompt +12 yrs. Glass containers Domestic
2 US$ Open US$
4,000.= Draft/30,45 Prompt 4 years
Printed tapes
Domestic
3 US$ Open US$
2,500.= Draft/45,60 Prompt 15 years
Chemical products Domestic
COMMENTS .-
Other contacted suppliers
have not attended to our request for references.
LIST OF DOMESTIC SUPPLIERS .-
Suppliers listed Alphabetically.
There is not relationship as for the order above
Supplier _ Telephone _
Carlos Koch Prattes S.A. (511) 4740832
Cuzi S.A.
Empresa Importadora Continental SA (511) 4240381
Fasoglass SCRL (511) 4851606
Ferro
Global Pack SRL (5154) 235549
Industrias Químicas S.A. (571) 4307339
Pharamlink
Plastifom SRL (511) 5342881
CREDIT RISK CENTRAL .-
It was found under subject's name on 5
protested drafts in the following years:
2007: (04) Drafts amounted to US$38,223.=
2005: (01) Draft amounted to US$988.27
2003: (02) Drafts amounted to US$2,221.=
It was knonw that three of those documents
have been paid off.
On the other hand, it was found subject has
some payments in arrears before the
following entities:
SUNAT, a debt for S/.97,987.=, for 2
overdue periods (15.08.2007 and 17.10.2007).
PROFUTURO AFP, a debt for S/.793.=, for 2
overdue periods (01.05.2006 and 01.07.2007)
in judicial collection.
CREDIT HISTORY .-
Its trade references as of May 2006 showed
also good payment performance.
BANKING INFORMATION
BANKERS
Bank Contact
BANCO DE CREDITO DEL
PERU Ricardo Bernedo
SCOTIABANK PERU SAA
BBVA BANCO
CONTINENTAL Jaime Zegarra
BANCO INTERNACIONAL DEL
PERU
Subject carries out its
operations through the above-mentioned banks, which did not provide references
under bank secrecy.
However, it was known
from third parties that subject makes use of several bank credit facilities.
SUPERINTENDENCY OF BANK
& INSURANCE - SBS .-
The SBS reported the following debts before the Financial System as at
31OCT2007 (Last Report)
Obligations DC(S/.) FC(US$)
Advance in current account cont 15,455.00 0.00
Credit cards-contract 2,086.00 8,537.00
Overdrafts-current account 44,023.00 16,103.00
Discounts-drafts 8,800,031.00 0.00
Loans 1,184,308.00 442,513.00
Financial Leasing
0.00 82,858.00
Letters of indemnity
5,286,848.00 14,316.00
Letters of credit 0.00 28,177.00
Others Other discounts,credits 1,130,266.00 27,932.00
overdue
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Total Indebtedness S/.
16,463,017.00 US$ 620,436.00
Guarantees S/. 0.00 US$ 0.00
The SBS ranks Subject
Company's indebtedness before the Financial System as follows :
RATING % RATING DESCRIPTION ACCORDING TO THE SBS
X NORMAL 100 Debtor meets payments on
time
PROBLEM POTENTIAL
Debtor reveals certain deficiencies not corrected appropriately
DEFICIENT Debtor presents
worsening of category with commercial problem
DOUBTFUL Debtor that
reveals high risk characteristics implying doubtful debt recovery
LOSS Debtor
whose credits are estimated uncollectible
Debt structure for Bank (domestic currency)
Bank Amount (S/.)
B. CONTINENTAL 7,465,999.00
B. WIESE SUDAMERIS 4,263,614.00
B. DE CREDITO 3,990,839.00
BCO. INTERBANK 2,602,591.00
B. COMERCIO 37.00
Banco Wiese Sudameris SAA
is now Scotiabank Perú SAA.
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. |
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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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%)