MIRA INFORM REPORT

 

 

Report Date :           

05.04.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

KALLIMANIS G. S.A.  

 

 

Registered Office :

Eliki Area, Diakopto, 25100 Aigio, Achaia

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1959

 

 

Com. Reg. No.:

27988          

 

 

Legal Form :

Societe Anonyme            

 

 

Line of Business :

Processes Fresh Or Frozen Packaged Fish

 

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 :

USD 1,696,731

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Greece

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME

 

KALLIMANIS G. S.A. 
Icon no: 196014

 

 

IDENTIFICATION DETAILS

 

NAME: KALLIMANIS G. S.A.   

 

TRADING STYLE:      'KALLIMANIS G. S.A.'

 

ADDRESS:           

ELIKI AREA

DIAKOPTO

25100 AIGIO

ACHAIA

GREECE

 

TELEPHONE:          30  2691081946

                                30  2691081949

TELEFAX:               30  2691081948

E-MAIL ADDRESS:     info@kallimanis.gr

WEB ADDRESS:        www.kallimanis.gr

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

 

 

SUMMARY

 

STARTED:    1959                                            SALES:                     57,697,000

YEAR INC:   1959                                            PROFIT:                      -334,000

LEGAL FORM: SOCIETE ANONYME             NET WORTH:                 13,307,000

REG NO:     27988                                          NOM CAPITAL:                7,800,000

EMPLOYS:    230                                            ISS CAPITAL:                7,800,000

SIC:        2092 2085 5142

ACTIVITY:   PROCESSES FRESH OR FROZEN PACKAGED FISH

 

 

SENIOR COMPANY PERSONNEL

 

VASILIKI KALLIMANI

Chairman

Managing director

Legal representative

MARIA KALLIMANI

Vice-chairman

Non-executive member

 

NIKOLAOS ARVANITIS

Delegated director

Executive member

 

VASILIOS BOLOVINIS

Member

Non-executive member

 

DIMITRIOS ANDRIOSOPOULOS

Member

Non-executive member

 

PANAGIOTIS KALLIMANIS

Member

Executive member

 

VASILIOS PAPADOPOULOS

Member

Non-executive member

 

CONSTANTINA KALLIMANI

Member

Executive member

 

PRINCIPALS ANTECEDENTS

NAME: VASILIKI KALLIMANI

Nationality: Greek

 

NAME: MARIA KALLIMANI

Nationality: Greek

 

NAME: NIKOLAOS ARVANITIS

Nationality: Greek

 

NAME: VASILIOS BOLOVINIS

Nationality: Greek

Profession: LAWYER.

 

NAME: DIMITRIOS ANDRIOSOPOULOS

Nationality: Greek

Profession: ECONOMIST.

 

NAME: PANAGIOTIS KALLIMANIS

Nationality: Greek

NAME: VASILIOS PAPADOPOULOS

Nationality: Greek

 

NAME: CONSTANTINA KALLIMANI

Nationality: Greek

    

  

WORKFORCE

 

EMPLOYS: 230 as at Oct 12, 2010 including 20 part-time staff.

 

 

PAYMENTS

 

PUBLIC RECORD INFORMATION

No protested bills have been reported.

 

 

RATINGS

 

CONDITION:        FAIR

AVG CREDIT (USD): 1,696,731

PAYMENTS:         UNDETERMINED

 

A Financial Strength of USD 12 million - 25 million (based on Net Worth) and an Overall Condition which is Fair (slightly greater than average risk).

 

 

BANKERS

 

·         NATIONAL BANK OF GREECE S.A., AIGIO branch., Mitropoleos 1, AIGIO 25100, Greece.

·         EMPORIKI BANK OF GREECE S.A., AIGIO branch., 20, Mitropoleos St., AIGIO 25100, Greece.

·         PIRAEUS BANK S.A., EGIOU branch., 2, Mitropoleos & Ermou str., EGIO 25100, Greece.

·         ALPHA BANK, AIGION branch., 10-12, Germanou Street, AIGIO 25100, Greece.

·         BANK OF CYPRUS PUBLIC COMPANY LIMITED, BUSINESS CENTER PATRA branch., 224, Korinthou str., PATRA 26221, Greece.

·         EFG EUROBANK ERGASIAS S.A., EGIU branch., 38, Mitropoleos Str., EGIO

                       


FINANCIALS

 

                          Fiscal           Fiscal          Fiscal
                        Dec 31,2007      Dec 31,2008     Dec 31,2009
Turnover                64,663,000       65,178,000      57,697,000
Pre-Tax Profit           3,565,000          850,000        -334,000
Net Worth               15,180,000       13,876,000      13,307,000
Fixed Assets            22,167,000       28,624,000      22,743,000
Total Assets            65,673,000       72,360,000      72,889,000
Current Assets          43,506,000       43,736,000      44,210,000
Current Liabilities     20,620,000       18,859,000      19,905,000
Working Capital         22,886,000       24,877,000      24,305,000
Long Term Debt          29,872,999       39,624,999      39,676,999
Financial Assets                 0                0       5,910,000
Intangibles                      0                0          26,000

 

Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets.

 

RATIOS

 

                         Dec 31,2007      Dec 31,2008     Dec 31,2009
Current Ratio (X)              2.11             2.32            2.22
Solvency Ratio (%)           432.63           521.48          547.75
Fixed Assets/Net Worth (%)   146.03           206.28          170.91
Current Liabs/Net Worth (%)  135.84           135.91          149.58
Asset Turnover (%)            98.46            90.07           79.16
Sales / Net Working Cap (X)    2.83             2.62            2.37
Assets / Sales (%)           101.56           111.02          126.33
Profit Margin (%)              5.51             1.30           -0.58
S/holders Return (%)          23.48             6.13           -2.51
Return On Assets (%)           5.43             1.17           -0.46

 

 

Abstract from individual fiscal balance sheet as at Dec 31, 2009 
 
             LIABILITIES                             ASSETS                        
Capital                      7,600,000   Misc Fixed Ass              22,743,000
Profit For Year              5,707,000   Total Fixed Ass             22,743,000
Net Worth                   13,307,000                     
                                         Investments                  5,910,000
Misc Provisions              1,985,000   Total Fin'cl Ass             5,910,000
Misc Def Liabs              37,692,000                     
                                         Misc Intangible                 26,000
                                         Total Intangible                26,000
 
     CURRENT LIABILITIES:                         CURRENT ASSETS:               
Short term Loans            12,283,000   Stock                       16,678,000
Misc Current Liabs           7,622,000   Trade Debtors               18,764,000
                                         Misc Debtors                 8,768,000
 
TOTAL CURRENT               19,905,000   TOTAL CURRENT               44,210,000
 
TOTAL LIABS & NW            72,889,000   TOTAL ASSETS                72,889,000
 
             Profit & Loss Account from Jan 01, 2009 to Dec 31, 2009               
 
             Net Sales                            57,697,000
             Cost of Goods Sold                   42,102,000
 
             Gross Profit                         15,595,000
             Selling/Admin Expenses               12,577,000
 
             Net Operating Income                  3,018,000
 
             Interest Payable                      2,372,000
             Total Financial Expenses              2,372,000
 
             Profit Before Taxes                    -334,000
 
             Profit After Tax                       -334,000
 
             Net Loss                                334,000
    

According to the balance sheet as of Dec 31, 2009.

 

Financial statement obtained from outside sources on Jun 08, 2010.

 

 

LEGAL STATUS

 

BACKGROUND

Business started 1959.

 

Subject acquired the business of KALLIMANIS SEAFOOD IONIAN S.A, a Societe anonyme with effect from Mar 23, 2009.

 

Subject acquired the business of KALLIMANIS G. S.A., a Societe anonyme with effect from Mar 23, 2009.

 

Subject acquired the business of MEDITERRANEAN MEALS S.A., a Societe anonyme with effect from Dec 31, 2010.

 

 

LEGAL FORM

Societe anonyme registered in 1959 in AIGIO for a period ending Jan 01, 2009.

Registration Number: 27988

Tax Registration Number: 094269861

  

 

 

CAPITAL DETAILS

 

Nominal capital: 7,800,000 Euro. Issued capital: 7,800,000 Euro.

Issued/paid-up capital was last increased on Sep 03, 2010.

Nominal capital is divided into: 10,000,000 ordinary shares of 0.78 each.

 

 

SHAREHOLDERS

 

KALLIMANI VASILIKI CONSTANTINE holds 40.00% of the voting capital.

PAPADOPOULOS VASILIOS CONSTANTINOS

KALLIMANI MARIA THEODOROS

KALLIMANI CONSTANTINA GEORGE

 

LINKED COMPANIES

 

SUBSIDIARIES

 

KALLIMANIS COMMERCIAL S.A. , AIGIO, Greece

Subject owns 99.90% of the capital.

 

ACTIVITIES

 

Processes fresh or frozen packaged fish

Manufactures distilled and blended liquors

Wholesales packaged frozen goods

Process and trade of foodstuff (sea food, fish, meat ect.)

Number of accounts: 100

 

Subject produces the following brand(s):

KALLIMANIS, Fish, Sea Food, Ouzo, brandy

 

 

IMPORTS

 

Imports from Pakistan, U S A, India, Turkey, European Community, New

Zealand, Morocco, Argentina

Normal importing terms are 90 days

Normal importing terms are open account

 

EXPORTS

 

Exports to Germany, Sweden, Netherlands, Cyprus

Normal exporting terms are net 60 days

Normal exporting terms are open account

 

 

PREMISES / REAL ESTATE

 

Operates from owned office, covering approximately 5,000 square metres at heading address.

 

The site covers approximately 38,000 square metres.

 

REGISTERED OFFICE: Eliki area, 25100 AIGIO, ACHAIA.

 

 

BRANCHES

 

1st klm Sindos-Chalastra Road, 57022, SINDOS, Greece. These are rented warehouse premises.

 

8 Petrou Ralli avenue, 11855, ATHENS, Greece.

 

22 Chrysallidos street, 14343, N.HALKIDONA, Greece. These are warehouse premises.

 

 

GENERAL COMMENTS 

 

Mr Aggelopoulos Kostas confirmed general details in this report.

 

local informants stated that:

 

On 1993-01-26 an official approval was published with reference to the formation of subject out of the merger of KALLIMANIS G.-KALLIMANIS TH. O.E. On 1993-01-26 an official approval was published with reference to the formation of subject out of the merger of KALLIMANI BROS-MEGARIS CON. O.E. On 1993-01-26 an official approval was published with reference to the formation of subject out of the merger of KALLIMANI BROS-PAPADOPOULOS

 

VAS. O.E. On 1993-01-26 an official approval was published with reference to the formation of subject out of the merger of KALLIMANIS BROS O.E On 2008-12-04 an agreement plan was published with reference to the acquisition of KALLIMANIS G. S.A. by subject. On 2008-12-04 an agreement plan was published with reference to the acquisition of KALLIMANIS

 

SEAFOOD IONIAN S.A by subject. On 2010-11-19 an agreement plan was published with reference to the acquisition of MEDITERRANEAN MEALS S.A. by subject.

 

Subjects’ main line of business is the process, the standardization and the distribution of fish and molluscs. It is also engaged in packing of frozen meat, fish, poultry and vegetables but also the production and trade of aloholic drinks (ouzo) and brandy.

 

Subject has been certified with ISO 9001 and HACCP. Other name of the address in caption is 87th klm Corinthos-Patra National Road, Egio, Achaia.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.65

UK Pound

1

Rs.71.93

Euro

1

Rs.63.24

 

 

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

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.