MIRA
INFORM REPORT
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Report Date : |
19.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAMARIDIS S.A. |
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Registered Office : |
4th klm Thiva-Athens Road Thiva 32200 Viotia |
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Country : |
Greece |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
34190/11/B/95/19 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Trade of Iron and Production of Shaped Steel Sheets |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
KAMARIDIS S.A.
4th klm
Thiva-Athens Road
THIVA
32200
VIOTIA-GREECE
TELEPHONE:
3022620-22943
TELEFAX : 302262025322
CURRENCY: Any amounts hereafter are in EURO unless
otherwise stated.
LANGUAGE: In certain circumstances information in
this report may be quoted in the local language.
A Financial
Strength of USD 2.5 - 12 million (based on Net Worth) and an Overall Condition
which is STRONG (Minimal risk).
SUMMARY
STARTED : 1995
SALES IN :2007/01-2007/12
-47,443,537 -
YEAR INC : 1976 PROFIT:
7,249,753
LEGAL FORM : Societe Anonyme
NET WORTH : 11,326,864
REG NO :
34190/11/B/95/19
NOM CAPITAL : 5,265,000
CAPITAL : 5,265,000
GOVT GAZ NO : 5690/1995.10.04 PAID CAPITAL: ALL
VAT NUMBER :
094314928
EMPLOYS : 50
SIC :
3089-3312-5051
ACTIVITY : Trade of iron
& production of shaped steel sheets
SPECIAL EVENTS
No special event
posted against this company.
BANKERS
NATIONAL BANK OF
GREECE-THIVA BRANCH
ALPHA BANK-THIVA
BRANCH
MANAGEMENT COMMENT
NAME AND TITLE OF INTERVIEWEE : Mr Kouknis, accountant
PRINCIPALS
Kamaridis Vagias
Sofr.,43, Pouliopoulou str., Thiva,chairm&man.director
Kamaridi Anna
Theod.,41, Pouliopoulou str., Thiva,vice chairman
Kamaridi Vassiliki
wife Vag.,43, Pouliopoulou str., Thiva,member
Kamaridis George
Vag.,43, Poyliopoulou str., Thiva,member
Kouknis George
Pan.,52, Pelopida str., Piraeus,member
HISTORY/OPERATIONS
Subject was
founded in 1995, as a Societe Anonyme, under the heading title, for a 50-year
period, with head office in Thiva and principal line of business the trade of
iron and the production of shaped steel sheets.
It was formed by
the merger of the previous :
a) "KAMARIDIS
S. BROS" O.E., general partnership, started in 1976, at 8, Titanon street,
Thiva, Viotia, imports and trade of iron (VAT No 092559985)
b) "KAMARIDIS
S. BROS" O.E., general partnership, started in 1991, at the 4th klm
Thiva-Athens Old National Road,
Thiva, Viotia,
production of shaped steel sheets (VAT No 082701636).
Share Capital
increase in euros 5.265.000.- (Gov.Gaz. 9068/ 2007)
- Mr Kamaridis
Vagias, Financial Manager.
Subject is legally
represented by Kamaridis Vagias (Gov. Gaz. 10899/2005).
SHAREHOLDERS/OWNERS
Kamaridis Vagias
Sofr.,43, Pouliopoulou str., Thiva,
1951 100,00%
OPERATIONS
Subject has been
operating:
- offices, plant
and storerooms (m2 17.000), on the 4th klm
Thiva-Athens Old National Road, Thiva,
Viotia,
- plant, at 6th
klm Thiva-Athens Old National Road, Thiva,
Viotia.
Engaged in
importing and trading (wholesale) iron and also in producing shaped steel
sheets and polystyrene and
polyurethan
panels.
Imports of raw
materials and iron from Italy, Romania, Austria, Spain, Belgium, Asia,
Australia, India, Taiwan,
Korea, China
SUPPLIERS
"FERERRO",
"COMPANIA GENERALE METALLI",
"BELTRAME", "LAMAGONA DI ITALIA", "LUCINI
SIDERUTSICA" (Italy), "INFLEX TRADING" (Romania), "VEST
ALPIN" (Austria), "BESOS" (Spain), "BHP STEEL S.A."
(Australia).
Terms of imports : Engagement Letters (90 days),
Some exports (20 %
of total sales) to France, Cyprus and Balkan countries.
Terms of exports : Engagement Letters or Cash.
STAFF
50 people.
NOTES :
* Previous office
address : 13, Andritsenis street, Piraeus.
* e-mail:
kamaridi@otenet.gr
* web site:
www.kamaridis.gr
REAL ESTATE
It is owner of :
- premises, at the
address in caption,
- a ground plot
(m2 4.000) in Pittos area, Thiva, Viotia, valued in euros 2.340.051.- after
depreciation on
31.12.2007.
On the same date,
the above real estate was charged by burdens, valued in euros 6.907.557.- for
securing banking loans, the balance of which amounted to euros 6.639.507.-
Kamaridis Vagias
and Theodoros are reported as owners of :
- land property,
in Stratopedo area, Thiva,
- a storeroom (m2 700),
at 8, Titanon street, Thiva, Viotia.
Kamaridis Vagias
is reported as owner of a house (m2 80), at 43, Pouliopoulou street, Sfagia,
Thiva, Viotia.
CORPORATE STRUCTURE
There are no
affiliations or other participations.
PUBLIC NOTICE INFORMATION
=============================================================================
KAMARIDIS S.A.
YEAR
PIECES AMOUNT IN EURO.
Notices for mortgage 1997 1
228,907
FINANCIAL INFORMATION
Nothing adverse
has been reported.
The Share Capital
amounts to euro 5.265.000.- is divided in 1.316.250 shares, valued in euros 4.-
each one
NAME AND TITLE OF
INTERVIEWEE : Mr Kouknis, accountant
BALANCE SHEET
December 2007 December 2006 December 2005
ASSETS
NON
PAID UP CAPIT. 0 0 0
ESTABLISH.
EXPENC. 0 0 0
NET
INTABL.ASSETS. 0 0 0
NET
FIXED ASSETS.. 4,560,334 4,781,004 5,283,808
PARTIC.&L/T
CLAIMS 11,687 10,781 9,879
CURRENT
ASSETS
Stocks............ 11,183,219 8,549,383
7,770,768
CLAIMS
Clients........... 4,440,857 4,387,089
3,584,425
Bills/cheques
rec. 15,837,892 14,923,756 8,628,563
Bad
debt.......... 253,337 306,633 239,061
Other
claims...... 1,338,788 1,145,209 348,374
TOTAL
CLAIMS...... 21,870,874 20,762,687 12,800,423
Bonds
& securities 0 0 0
Cash
& banks...... 3,561,508 1,423,773 955,194
TOTAL
CURR.ASSETS. 36,615,601 30,735,843 21,526,385
TRINSIT.ACCOUNTS.. 712,355 1,440,442
53,404
TOTAL
ASSETS...... 41,899,977 36,968,070 26,873,476
LIABILITIES
PROVISIONS........ 0 60,473 0
L/T
LIABILITIES... 5,129,622 2,514,496 1,549,371
CURR.LIABILITIES
Suppliers......... 7,953,713 4,253,014 2,226,257
Bills/cheq.payable 3,776,053 5,229,252
3,396,095
Banks............. 3,834,470 6,348,240
5,460,923
Dividends......... 5,526,740 3,899,202
2,824,247
Various
creditors. 6,000 13,800 1,582
Oth.curr.liabil... 4,261,975 3,978,878
657,265
TOTAL
CURR.LIABIL. 25,358,951 23,722,386 14,566,369
TRINSIT.ACCOUNTS.. 84,540 39,199
33,106
TOTAL
LIABILITIES. 30,573,113 26,336,554 16,148,846
NET
WORTH
Paid up
capital... 5,265,000 5,265,000 4,800,000
Share
pr.ab.nomin. 0 0 0
Revaluation
reser. 120,662 156,396 656,260
Reserves.......... 5,880,379 5,210,120
5,019,144
Retained
profit... 60,823 0 249,226
Accumulated
losses 0
0 0
Dep.for
cap.incr.. 0 0 0
TOTAL
NET WORTH... 11,326,864 10,631,516 10,724,630
PROF/LOSS
ACCOUNTS
Sales............. 47,443,537 34,812,607
23,321,244
Cost of
sales..... 36,107,358 25,529,388 19,773,936
GROSS
INC.ON SALES 11,336,179 9,283,219 3,547,308
OPERATING
INCOME.. 7,320,901 5,586,179 2,461,121
PROFIT
BEFORE TAX. 7,249,753 5,379,615 2,311,644
COMPANY & INDUSTRY FINANCIAL
RATIOS
INDUSTRY
SECTOR OF COMPARISON(SIC): 30
COMPARABLE
BUSINESSES IN INDUSTRY SECTOR: 0198
PERIOD December 2007
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 64,00 % % 3,80 % 13,85 %
Return
on equity +
L/T liabilities. 44,05 % 0,00
% 2,87 % 12,52 %
Gross
incoming +
sales ratio..... 23,89 % 12,45
% 19,32 % 26,13 %
Oper.inc.to
sales+
ratio........... 15,43 %
0,88-% 1,70 % 5,93 %
Pr/loss
bef.tax. +
sales ratio..... 15,28 % 0,00
% 1,84 % 6,81 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,37 : 1 0,41 :
1 0,75 : 1 1,76 : 1
Net
fix+net int to
total assets rat 0,10 : 1 0,24 : 1 0,36 : 1 0,51 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 3,59 : 1 1,05 :
1 1,38 : 1 1,99 : 1
III.LIQUIDITY
Current
ratio..... 1,44 : 1 1,04 : 1 1,30 : 1 1,81 : 1
Acid
test ratio... 1,00 : 1 0,69 : 1 0,93 : 1 1,35 : 1
IV.
TURNOVER
Aver.collec.period 165,95 d. 229,30 d. 172,79
d. 119,47 d.
Average
period of
purchases outst. 117,00 d. 153,48
d. 89,60 d. 35,19 d.
Aver.stocks
hold.
period......... 111,49 d. 161,14
d. 78,95 d. 42,06 d.
Sales
to net work
capital ratio.. 4,21 : 1 5,27 :
1 2,50 : 1 0,00 : 1
PERIOD
December 2006
COMPANY
LOWEST MEDIAN HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 50,60 % 0,89 % 5,43 % 15,20 %
Return
on equity +
L/T liabilities. 40,92 % 0,64
% 4,16 % 13,80 %
Gross
incoming +
sales ratio..... 26,66 % 12,91
% 19,01 % 26,33 %
Oper.inc.to
sales+
ratio........... 16,04 % 0,00
% 2,32 % 7,72 %
Pr/loss
bef.tax. +
sales ratio..... 15,45 % 0,35
% 2,52 % 7,88 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,40 : 1 0,43 :
1 0,77 : 1 1,65 : 1
Net
fix+net int to
total assets rat 0,12 : 1 0,23 : 1 0,37 : 1 0,51 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 2,74 : 1 1,00 :
1 1,32 : 1 1,88 : 1
III.LIQUIDITY
Current
ratio..... 1,29 : 1 1,00 : 1 1,25 : 1 1,65 : 1
Acid
test ratio... 0,93 : 1 0,65 : 1 0,89 : 1 1,23 : 1
IV.
TURNOVER
Aver.collec.period 214,70 d. 223,95 d. 178,47
d. 117,57 d.
Average
period of
purchases outst. 133,90 d. 148,54
d. 94,65 d. 47,38 d.
Aver.stocks
hold.
period......... 120,55 d. 153,66
d. 83,87 d. 46,68 d.
Sales
to net work
capital ratio.. 4,96 : 1 6,10 :
1 2,71 : 1 0,00 : 1
PERIOD
December 2005
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 21,55 % 1,27 % 6,22 % 18,97 %
Return
on equity +
L/T liabilities. 18,83 % 0,97
% 5,74 % 16,45 %
Gross
incoming +
sales ratio..... 15,21 % 12,57
% 19,39 % 27,25 %
Oper.inc.to
sales+
ratio........... 10,55 %
0,03-% 2,48 % 7,14 %
Pr/loss
bef.tax. +
sales ratio..... 9,91 % 0,73
% 3,06 % 7,86 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,66 : 1 0,44 :
1 0,85 : 1 1,80 : 1
Net
fix+net int to
total assets rat 0,19 : 1 0,25 :
1 0,38 : 1 0,53 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 2,31 : 1 0,96 :
1 1,31 : 1 1,77 : 1
III.LIQUIDITY
Current
ratio..... 1,47 : 1 0,97 : 1 1,24 : 1 1,67 : 1
Acid
test ratio... 0,94 : 1 0,61 : 1 0,89 : 1 1,25 : 1
IV.
TURNOVER
Aver.collec.period 197,59 d. 219,26 d. 162,27
d. 108,32 d.
Average
period of
purchases outst. 102,38 d. 161,82
d. 95,23 d. 51,03 d.
Aver.stocks
hold.
period......... 141,47 d. 147,49
d. 82,72 d. 44,67 d.
Sales
to net work
capital ratio.. 3,35 : 1 6,63 :
1 2,76 : 1 0,00 : 1
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%)