MIRA INFORM REPORT

 

 

 

Report Date :

21.07.2008

 

IDENTIFICATION DETAILS

 

Name :

INFINITIV D.O.O

 

 

Registered Office :

Maksimirska 118/2, HR 10000 Zagreb

 

 

Country :

Croatia

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

1991

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Non-Specialised Wholesale of Food, Beverages and Tobacco

 

 

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

 

Maximum Credit Limit :

EUR 175.000,00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

INFINITIV d.o.o. za trgovinu i usluge

Maksimirska 118/2

HR 10000 Zagreb

Tel: +385 1/2301143, 2301387

Fax: +385 1/2301143, 2301387, 2301145

E-mail: infinitiv@zg.t-com.hr,    infinitiv@infinitiv.hr

Web: www.infinitiv.hr

 

 

Legal form

 

limited liability company

                                    

 

Established    

 

1991

                                    

 

Registered

 

1991.02.15, Commercial Court Zagreb, Nr. 080279646

re-registration according to the Companies act was 1995-12-19
last court entry 2004-07-07

Statistic number: 3712311

                                    

 

Establisher    

 

Violeta Jurić Pajić,
10000  Zagreb               

Lidija Jurić Sulić,
10000  Zagreb               

 (according to company's own data, official data not available)

 

 

Basic capital 

 

HRK 218.400,00

1997-12-02 the capital was increased from HRK 571,00 to the above amount

                                    

 

 

 

 

Management   

 

Violeta Jurić Pajić, manager, born 1967.06.22,

Vlaška 79, 10000  Zagreb, Croatia

Lidija Jurić Sulić, manager, born 1969.06.29,

Donji Prečac 17A, 10000  Zagreb, Croatia

                                    

 

Activity

 

Non-specialised wholesale of food, beverages and tobacco

                                    

Wholesale and retail trade in sugar, rice, flour, cocoa powder, cocoa butter, dried fruits and dried vegetables, spices and nuts
Foreign Trade
import from: Italy, Germany, Iran, Netherland, Indo-Asia
export to: Slovenia, Bosna and Hercegowina
The company is the bigest importer of dried fruits in Croatia

 

legal site and  offices of 250 m2 are located at the above address, owned by the company
business premises of 150 m2 and a bar in Zagreb at Maksimirska 100 and Tuškanova 22, owned by the company
storeroom of 700 m2 in Zagreb, Savica Šanci, owned by the company
Storeroom of 800 m2 in Zagreb, Žitnjak bb, rented
Rent (whole year) HRK 700.000,00
former legal headquarters in Zagreb was at Maksimirska 100

the company owns vehicles, number and type not known
Book value of vehicles 2007-12-31: HRK  431.986,00

                                    

Basic activity (according to National activity classification):

Non-specialised wholesale of food, beverages and tobacco   

                                    

 

Staff

 

2004                              4                        employees

2005                              4                        employees

2006                              5                        employees

2007                              5                        employees

01.-03.2008                    5                        employees

 

 

Total revenue    

 

2004 total revenue           HRK                                                  48.515.000

2005 total revenue           HRK                                                  49.040.000

2006 total revenue           HRK                                                  48.926.000

2007 total revenue           HRK                                                  50.508.000

01.-03.2008 total revenue HRK                                                  13.863.509

 

 

 

Real estate    

 

the company owns real estates
information about eventual mortgage existance not available
Book value of buildings 2007-12-31: HRK 3.169.036,00
insight into real estate register not possible
information about eventual mortgage existance not available

 

 

Assets

 

Currency: HRK ( x 1.000 )

2007.12.31

2006.12.31

2005.12.31

 

 

 

 

FIXED ASSETS

5.771

7.680

5.745

  Intangible assets

0

0

0

  Tangible assets

4.890

5.786

4.451

  Long term financ. assets

0

636

636

  Long term receivables

881

1.259

659

CURRENT ASSETS

41.761

38.939

38.273

  Inventories

438

888

1.791

  Short term receivables

18.848

16.919

16.803

  Short term financial assets

20.811

19.590

18.772

 Cash at bank and in hand

1.663

1.543

908

ACCRUALS

0

0

0

LOSS OVER THE CAPITAL

0

0

0

TOTAL ASSETS

47.532

46.619

44.018

 

 

Liabilities

                                               

Currency: HRK ( x 1.000 )

2007.12.31

2006.12.31

2005.12.31

 

 

 

 

EQUITY

26.159

26.224

29.343

  Subscribed capital

1.522

1.522

1.522

  Revalorizational reserves

2.350

2.350

2.350

  Profit brought forward

18.340

18.340

22.340

  Profit of the period

3.946

4.011

3.130

PROVISIONS

0

0

0

LONG TERM LIABILITIES

0

0

0

SHORT TERM LIABILITIES

21.373

20.395

14.644

  Deposits, advances payments

2.798

2.266

2.266

  To suppliers

10.428

11.560

11.209

  Taxes, fees, etc.

92

650

755

  Other short term liabilities

8.056

5.919

414

DEFFERED ITEMS

0

0

31

TOTAL LIABILITIES

47.532

46.619

44.018

 

 

 

 

Profit / loss account  

                                   

Currency: HRK ( x 1.000 )

2007.12.31

2006.12.31

2005.12.31

OPERATING REVENUES

49.251

48.195

48.611

  Sales in the country

47.306

46.666

47.147

  Sales abroad

1.938

1.353

1.418

  Other revenues

7

176

47

OPERATING EXPENSES

44.875

43.498

44.732

    Material costs

43.089

41.587

43.096

    Staff costs

375

342

302

    Depreciation of fixed assets

986

940

756

    Other operating expenses

425

629

577

FINANCIAL REVENUES

1.257

731

429

FINANCIAL EXPENSES

162

14

10

EXTRAORDINARY REVENUES

0

0

0

EXTRAORDINARY EXPENSES

492

376

384

TOTAL REVENUES

50.508

48.926

49.040

TOTAL EXPENSES

45.528

43.887

45.127

    Profit before taxation

4.979

5.039

3.913

    Loss before taxation

0

0

0

    Taxation on profit

1.033

1.027

783

PROFIT OF THE PERIOD

3.946

4.011

3.130

LOSS OF THE PERIOD

0

0

0

 

 

Financial ratios 

 

 

2007.

2006.

2005.

Financial stability ratio

4,2131

3,0607

3,8937

Solvency ratio (%)

55,03

56,25

66,66

Debt ratio (in years)

4,3335

4,1194

3,7684

Liquidity ratio

1,9334

1,8657

2,4913

Current ratio

1,9539

1,9092

2,6136

Total assets turnover

1,0626

1,0495

1,1141

Inventories turnover

115,3151

55,0968

27,3814

Collection period (in days)

134,352

124,488

123,336

Inventories bonding (in days)

3,132

6,516

13,14

Profit margin (%)

7,81

8,2

6,38

Return on total assets (%)

8,3

8,6

7,11

Return on equity (%)

15,08

15,3

10,67

Total revenue per employee (x 1.000)

10101,6

9785,2

12260

Profit per employee (x 1.000)

789,2

802,2

782,5

Equity per employee (x 1.000)

5231,8

5244,8

7335,75

Total assets per employee (x 1.000)

9506,4

9323,8

11004,5

Staff costs/Turnover (%)

0,74

0,7

0,62

Average annual cost per employee (x 1.000)

75

68,4

75,5

EBIT (x 1.000)

4376

4697

3879

EBITDA (x 1.000)

5362

5637

4635

EBIT Margin (%)

8,89

9,75

7,98

EBITDA Margin (%)

10,89

11,7

9,53

 

 

Remarks

 

 

 

2003 import HRK

28.476.919

  2004 export HRK

1.251.000

 

 

 

2004 import HRK

29.175.694

  2005 export HRK

1.418.000

 

 

 

2005 import HRK

28.375.741

  2006 export HRK

1.353.073

 

 

 

2006 import HRK

27.071.128

  2007 export HRK

1.937.603

 

 

 

2007 import HRK

29.939.214

 

 

 

 

 

 

 

 

 

         2004  profit HRK

1.752.000

 

 

 

 

         2005  profit HRK

3.913.000

 

 

 

 

2006  profit HRK

5.039.000

 

 

 

 

2007  profit HRK

4.980.000

 

 

 

 

01.-03.2008  profit HRK

3.425.000

 

 

 

 

 

 

 

 

Short company name: INFINITIV d.o.o.

Liabilities towards foreign suppliers:
- 2003-12-31: HRK    10.108.150,00
- 2004-12-31: HRK     9.130.537,00
- 2005-12-31: HRK     8.980.635,00
- 2006-12-31: HRK     9.314.284,00
- 2007-12-31: HRK     8.630.892,00

Investments in:
- 2002: HRK     20.910,00
- 2004: HRK  4.417.187,00
- 2005: HRK  1.647.114,00
- 2006: HRK  2.274.768,00
- 2007: HRK     89.198,00

The following figures from balance sheet at 2008-03-31 are available:

- Stocks                                    HRK  1.673.569,00
- Liquid assets                          HRK  1.617.620,00
- Receivables from buyers        HRK 19.103.089,00
- Liabilities towards suppliers    HRK  9.158.752,00
- Investments in fixed assets    HRK          0,00

Revenues in three months 2008 are for 14,99% higher than in the same period in 2007.
Profit increased from HRK 1.271.715,00 in three months 2007 to HRK 3.425.235,00 in three months 2008.

 

 

 

 

Exchange rate:

 

 

2003-12-31
2004-12-31
2005-12-31
2006-12-31
2007-12-31

EUR 1 = HRK 7,6469
EUR 1 = HRK 7,6712
EUR 1 = HRK 7,3756
EUR 1 = HRK 7,3451
EUR 1 = HRK 7,3251

 

 

 

 

 

 

 

Inflation:

 

 

 

 

2003:

1,5%

 

 

 

2004:

2,1%

 

 

 

2005:

3,6%

 

 

 

2006:

3,2%

 

 

 

2007:

2,9%

 

 

 

Bankers

           

 

RAIFFEISENBANK AUSTRIA d.d.

Petrinjska 59, 10000 Zagreb, Croatia

2484008-1101183631

PRIVREDNA BANKA ZAGREB d.d.

Račkoga 6, 10000 Zagreb, Croatia

2340009-1100164035

ZAGREBACKA BANKA d.d.

Paromlinska 2, 10000 Zagreb, Croatia

2360000-1101573530

ERSTE&STEIERMÄRKISCHE BANK d.d.

Jadranski trg 3a, 51000 Rijeka, Croatia

2402006-1100250267

                                      

 

Mode of payment

 

as far as known, prompt                                      

 

                                      

Credit opinion

business connections are permissible                         

                                    

 

Max. credit

EUR 175.000,00

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.33

UK Pound

1

Rs.84.32

Euro

1

Rs.66.75

 

 

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