MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
HORECA EMPORIKI S.A. |
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Registered Office : |
15, |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
51106/04/B/02/15 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Trade of Foodstuff, Drinks |
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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Maximum Credit Limit : |
EUR 240.000. |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION
HORECA
EMPORIKI S.A.
ADDRESS:
15,
AG.PARASKEVI
15354
ATHENS-GREECE
TELEPHONE:
30210-6683330
TELEFAX : 302106655541
CURRENCY:
Any amounts hereafter are in EURO unless otherwise stated.
EVALUATION
CONDITION:
STRONG
CREDIT:
Maximum EUR 240.000.-
The
Dun & Bradstreet Rating of 2A1 Indicates:
SUMMARY
STARTED:
SALES
IN: 2007/01-2007/12
-7,714,408 -
YEAR
INC:
PROFIT:
1,235,087
LEGAL
FORM: Societe Anonyme
REG
NO: 51106/04/B/02/15
CAPITAL:
1,345,000
GOVT
GAZ NO: 1415/2002.02.25
VAT
NUMBER: 999842166
NET
WORTH: 3,748,542
NOM
CAPITAL: 1,345,000
PAID
CAPITAL: ALL
EMPLOYS:
10
SIC: 5149
ACTIVITY:
Trade of foodstuff, drinks
SPECIAL EVENTS
No
special event posted against this company.
BANKERS
NATIONAL
BANK OF
EFG
EUROBANK
MANAGEMENT COMMENT
NAME
AND TITLE OF THE INTERVIEWEE : ?rs Zacharaki
PRINCIPALS
Noutsos
Nicolaos Joh.,29, Serifou str., Holargos,chairm&man.director
Malevri
Helen Pan.,15, Kypselis str.,
Fotopoulos
George Joh.,6, Zalokosta str.,
HISTORY/OPERATIONS
Subject
was founded in 2002 as a Societe Anonyme, under the title in caption, for a
30-year period, with head office in
In 2004
(Government Gazette 9523/2004), subject's head office was moved from 10,
In
2007 (G.G. 10362/2007) subject absorbed the industrial sector of the Societe
Anonyme "KAFEA" S.A. and its Share Capital was increased to euros
1.345.000.-
Subject
is legally represented by Noutsos Nicolaos (Gov. Gaz. 2397/2005)
SHAREHOLDERS/OWNERS
Noutsos
Nicolaos Joh.,29, Serifou str., Holargos,
HORECA
HOLDINGS LTD,
OPERATIONS
It has
been operating :
-
offices, at the address and under the title in caption.
-plant
& storeroom, in Thessi Poussi Hatzi,
Peania,
Engaged
in importing and trading (wholesale) foodstuff and
drinks
and also engaged in proccessing coffee.
Imports
from
Suppliers:
"DE CECCO", "VITCAN", "MODANA"
Terms
of imports: Open Credit.
Exports:
None.
Staff
: 10 people.
NOTES :
* The
full subject's address is :
15,
* e-mail
address: horeca@ath.forthnet.gr
REAL
ESTATE
It is
no owner of any real estate.
CORPORATE STRUCTURE
There
are no affiliations or other participations.
FINANCIAL INFORMATION
Nothing
adverse has been reported.
Its
Share Capital is Euro 1.345.000.- divided in
134.500
shares, valued in euros 10.- each one.
NAME
AND TITLE OF THE INTERVIEWEE : ?rs Zacharaki
sec. dep.
DATE OF
THE INTERVIEW : 25.08.2008
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.. 1,882,446 36,173 0
PARTIC.&L/T
CLAIMS 1,519,267 2,434 61,243
CURRENT
ASSETS
Stocks............ 1,083,755 536,452 230,395
CLAIMS
Clients........... 1,014,439 589,831 162,428
Bills/cheques
rec. 650,812 179,653 129,099
Bad
debt.......... 7,738 0 0
Other
claims...... 306,441 121,555 55,470
TOTAL
CLAIMS...... 1,979,430 891,039 346,997
Bonds
& securities 0 0 0
Cash
& banks...... 63,842 998,863 159,434
TOTAL
CURR.ASSETS. 3,127,027 2,426,354 736,826
TRINSIT.ACCOUNTS.. 229,793 78,130 19,080
TOTAL
ASSETS...... 6,758,533 2,543,091 817,149
LIABILITIES
PROVISIONS........ 0 0 0
L/T
LIABILITIES... 0 0 0
CURR.LIABILITIES
Suppliers......... 969,043 446,414 133,622
Bills/cheq.payable 929,674 175,088 294,186
Banks............. 577,631 0 0
Dividends......... 0 0 0
Various
creditors. 101,984 73,135 37,216
Oth.curr.liabil... 421,958 269,024 144,634
TOTAL
CURR.LIABIL. 3,000,290 963,661 609,658
TRINSIT.ACCOUNTS.. 9,701 603 0
TOTAL
LIABILITIES. 3,009,991 964,264 609,658
NET
WORTH
Paid up
capital... 1,345,000 1,060,000 60,000
Share
pr.ab.nomin. 0 0 0
Revaluation
reser. 0 0 0
Reserves.......... 2,402,719 518,000 147,000
Retained
profit... 823 827 491
Accumulated
losses 0 0 0
Dep.for
cap.incr.. 0 0 0
TOTAL
NET WORTH... 3,748,542 1,578,827 207,491
PROF/LOSS
ACCOUNTS
Sales............. 7,714,408 3,570,129 1,274,144
Cost of
sales..... 4,842,485 2,657,738 877,428
GROSS
INC.ON SALES 2,871,923 912,391 396,716
OPERATING
INCOME.. 1,272,543 637,840 271,238
PROFIT
BEFORE TAX. 1,235,087 620,011 264,867
COMPANY & INDUSTRY FINANCIAL
RATIOS
INDUSTRY
SECTOR OF COMPARISON(SIC): 51
COMPARABLE
BUSINESSES IN INDUSTRY SECTOR: 1464
PERIOD December
2007
COMPANY LOWEST MEDIAN HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 32,94 % % 12,43 % 35,97 %
Return
on equity +
L/T liabilities. 32,94 % 1,44 % 9,66 % 30,16 %
Gross
incoming +
sales ratio..... 37,22 % 10,97 % 20,73 % 34,52 %
Oper.inc.to
sales+
ratio........... 16,49 % 0,16 % 1,86 % 5,26 %
Pr/loss
bef.tax. +
sales ratio..... 16,01 % 0,20 % 1,66 % 4,99 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 1,24 : 1 0,12 : 1 0,27 : 1 0,71 : 1
Net
fix+net int to
total assets rat 0,50 : 1 0,03 : 1
0,10 : 1 0,26 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 1,10 : 1 1,11 : 1 2,30 : 1 6,36 : 1
III.LIQUIDITY
Current
ratio..... 1,04 : 1 1,01 : 1 1,16 : 1 1,55 : 1
Acid
test ratio... 0,68 : 1 0,71 : 1 0,92 : 1 1,21 : 1
IV.
TURNOVER
Aver.collec.period 92,37 d. 240,24 d. 147,94 d. 74,79 d.
Average
period of
purchases outst. 148,73 d. 168,47 d. 91,05 d. 35,52 d.
Aver.stocks
hold.
period......... 80,56 d. 127,00 d. 58,00 d. 22,04 d.
Sales
to net work
capital ratio.. 60,86 : 1 13,51 : 1 4,20 : 1 0,18 : 1
PERIOD December
2006
COMPANY LOWEST MEDIAN HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 39,27 % 2,06 % 12,04 % 36,04 %
Return
on equity +
L/T liabilities. 39,27 % 1,65 % 10,07 % 31,55 %
Gross
incoming +
sales ratio..... 25,55 % 11,34 % 20,76 % 33,99 %
Oper.inc.to
sales+
ratio........... 17,86 % 0,19 % 2,00 % 5,44 %
Pr/loss
bef.tax. +
sales ratio..... 17,36 % 0,23 % 1,73 % 5,11 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 1,63 : 1 0,13 : 1 0,30 : 1 0,77 : 1
Net
fix+net int to
total assets rat 0,01 : 1 0,03 : 1 0,11 : 1 0,27 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 40,89 : 1 1,07 : 1 1,93 : 1 6,00 : 1
III.LIQUIDITY
Current
ratio..... 2,51 : 1 1,00 : 1 1,15 : 1 1,47 : 1
Acid
test ratio... 1,96 : 1 0,69 : 1 0,90 : 1
1,15 : 1
IV.
TURNOVER
Aver.collec.period 89,84 d. 227,40 d. 138,29 d. 73,56 d.
Average
period of
purchases outst. 94,09 d. 170,43 d. 91,28 d. 40,96 d.
Aver.stocks
hold.
period......... 72,66 d.
124,92 d. 58,00 d. 21,86 d.
Sales
to net work
capital ratio.. 2,44 : 1 14,27 : 1 4,30 : 1 0,00 : 1
PERIOD December
2005
COMPANY LOWEST MEDIAN HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 127,65 % 2,89 % 15,88 % 42,19 %
Return
on equity +
L/T liabilities. 127,65 % 2,23 % 14,08 % 39,73 %
Gross
incoming +
sales ratio..... 31,13 % 11,66 % 20,66 % 33,86 %
Oper.inc.to
sales+
ratio........... 21,28 % 0,49 % 2,63 % 6,79 %
Pr/loss
bef.tax. +
sales ratio..... 20,78 % 0,45 % 2,40 % 6,49 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,34 : 1 0,14 : 1 0,31 : 1 0,75 : 1
Net
fix+net int to
total assets rat 0,07 : 1 0,03 : 1 0,11 : 1 0,28 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 3,38 : 1 1,10 : 1 1,94 : 1 5,94 : 1
III.LIQUIDITY
Current
ratio..... 1,20 : 1 1,01 : 1 1,15 : 1 1,46 : 1
Acid
test ratio... 0,83 : 1 0,71 : 1 0,90 : 1 1,15 : 1
IV.
TURNOVER
Aver.collec.period 98,04 d. 215,15 d. 128,65 d. 69,98 d.
Average
period of
purchases outst. 190,79 d. 162,02 d. 91,55 d. 41,31 d.
Aver.stocks
hold.
period......... 94,52 d. 122,96 d. 58,36 d. 22,72 d.
Sales
to net work
capital ratio.. 10,01 : 1 14,05 : 1 4,74 : 1 0,07 : 1
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.95 |
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1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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%)