MIRA
INFORM REPORT
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Report Date : |
29.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ECZACIBASI-ZENTIVA SAGLIK URUNLERI SANAYI VE TICARET A.S. |
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Registered Office : |
Buyukdere Cad. Ali Kaya Sok. No:7 Levent-Sisli-Istanbul |
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Country : |
Turkey |
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Date of Incorporation : |
17.12.2003 |
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Com. Reg. No.: |
511325 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and Trade of Pharmaceuticals, Personal Care and
Veterinary. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
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NAME |
: |
ECZACIBASI-ZENTIVA SAGLIK URUNLERI SANAYI VE
TICARET A.S. |
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ADDRESS |
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Head Office: Buyukdere Cad. Ali Kaya Sok.
No:7 Levent-Sisli-Istanbul/Turkey |
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PHONE NUMBER |
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90-212-350 80 00 |
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FAX NUMBER |
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90-212-350 85 40 |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
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Buyuk Mukellefler/3240306516 |
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REGISTRATION NUMBER |
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511325 |
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REGISTERED OFFICE |
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Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
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17.12.2003 (Commercial Registry Gazette
Date/No:22.12.2003/5951) |
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LEGAL FORM |
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Joint Stock Company |
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TYPE OF COMPANY |
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Private |
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REGISTERED CAPITAL |
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YTL 272,000,000 |
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HISTORY |
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The registered capital was increased from
YTL 122,000,000 to YTL 272,000,000 on 04.07.2007 (Commercial Registry Gazette
Date/No:09.07.2007/6847) The registered name was changed from “Eczacibasi Saglik Urunleri Sanayi ve Ticaret A.S.“ to “Eczacibasi-Zentiva Saglik Urunleri Sanayi ve Ticaret
A.S.“ on 09.08.2007 (Commercial Registry Gazette Date/No:14.08.2007/6873) |
OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
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Zentiva NV (Netherlands) EIS Eczacibasi Ilac Sanayi ve Ticaret A.S. Others |
75 % |
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Zentiva NV is a foreign company. EIS Eczacibasi Ilac Sanayi ve Ticaret A.S.
is a company which operates within Eczacibasi Group. Eczacibasi Group’s core sectors
are pharmaceuticals, building materials and consumer products. The group is
also active in finance, information technology and welding technology |
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BOARD OF DIRECTORS |
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Jiri Michal Osman Erdal Karamercan Sedat Birol Jan Vild Faruk Yurtseven Roman Grunt |
Chairman Vice-chairman Member Member Member Member |
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DIRECTORS |
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Faruk Yurtseven |
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OPERATIONS
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BUSINESS
ACTIVITIES |
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Manufacture and trade of pharmaceuticals,
personal care and veterinary. On 29.06.2007 manufacturing pharmaceuticals,
personal care and veterinary products activities and the employees have been
acquired from EIS ECZACIBASI ILAC SANAYI VE TICARET A.S. according to the
decision taken at the Board of Directors meeting of EIS Eczacibasi dated
29.12.2006 |
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NUMBER OF
EMPLOYEES |
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1,700 |
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NET SALES |
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n.a. |
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In Turkey, there is no public registry on companies’ financial and
detailed general data. So, to collect a firm’s data, an information agency has
to contact the company and get its authorization. However the company strictly declines to give us an authorization to
gather its financial data. As the firm’s shares are not open to public it is
not obliged to announce its data. |
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IMPORT COUNTRIES |
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Italy, China, India |
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MERCHANDISE
IMPORTED |
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Raw materials and machinery |
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EXPORT COUNTRIES |
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Bulgaria, Denmark, UK, Germany, France,
New Zealand, Yemen, Jordan, El Salvador, Austria, Belgium, Spain, Portugal, Netherlands,
South Korea |
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MERCHANDISE
EXPORTED |
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Retail drugs, antibiotics |
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PREMISES |
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Head Office: Buyukdere Cad. Ali Kaya Sok.
No:7 Levent-Sisli-Istanbul (rented) Factory: Luleburgaz-Kirklareli (owned) Warehouse: Hadimkoy-Istanbul (rented) |
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FIXED CAPITAL
INVESTMENTS |
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None |
FINANCE
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MAIN DEALING BANKERS |
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HSBC Bank Kurumsal branch in Istanbul Turk Ekonomi Bankasi Kurumsal branch in
Istanbul Yapi ve Kredi Bankasi Esentepe branch in Istanbul |
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PAYMENT BEHAVIOUR |
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No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
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GENERAL
FINANCIAL POSITION |
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Undetermined;
the firm declines to give us an authorization to gather its financial data. As the shares of the firm are not open to
public, it is not obliged to announce its data. |
CREDIT OPINION
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Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
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(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
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(1.1.-30.04.2008) |
11.04 % |
1.2193 |
1.8541 |
2.4257 |
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%)