MIRA INFORM REPORT
|
Report Date : |
08.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
FLAMAGAS SA |
|
|
|
|
Registered Office : |
C/ Metal Lurgia, 38-42 Edificio De La Marina, Barcelona, 08038 |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Com. Reg. No.: |
A08116758 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
Manufacture of pocket lighters, stationery and cosmetic pencils;
marketing of imported stationery products |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Spain |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Flamagas Sa
C/ Metal Lurgia, 38-42 Edificio De La Marina
Barcelona, 08038
Spain
Tel: +(34) 932910505
Fax: +(34) 932910547
Web: www.flamagas.com
Synthesis
Employees: 233
Company Type: Public Independent
Auditor: Uniaudit Jrp Auditores Sl
Financials in: (USD)
Millions
Fiscal Year End:
15-Oct-2010
Reporting Currency: Euro
Annual Sales: 67.1
1
Net Income: 3.5
Total Assets: 88.3
Business Description
Manufacture of
pocket lighters, stationery and cosmetic pencils; marketing of imported
stationery products and electronic office equipment; licensed Agent for Walt
Disney stationery; exclusive distributor for Casio, Franklin and Saitek within
Spain
Industry
Industry Miscellaneous Fabricated Products
ANZSIC 2006: 2599 - Other
Manufacturing Not Elsewhere Classified
NACE 2002: 3663 - Other
manufacturing not elsewhere classified
NAICS 2002: 339999 - All Other
Miscellaneous Manufacturing
UK SIC 2003: 3663 - Other
manufacturing not elsewhere classified
US SIC 1987: 3999 -
Manufacturing Industries, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
José MarÃa Puig Planas |
Presidente |
|
Artigas Marc |
Marketing Director |
|
Miguel Sterba |
Board Secretary |
|
Emilio Bosch MartÃnez Pinillos |
Operations Director |
|
Xavier Puig Alsina |
Chairman and General Manager |
Registered No.(ESP): A08116758
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7419216
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7136995
Corporate Overview
Location
C/ Metal Lurgia, 38-42 Edificio De La Marina
Barcelona, 08038
Spain
Tel: +(34) 932910505
Fax: +(34) 932910547
Web: www.flamagas.com
Sales EUR(mil): 49.8
Assets EUR(mil): 63.0
Employees: 233
Fiscal Year End: 15-Oct-2010
Industry: Miscellaneous Fabricated Products
Company Type: Public Independent
Quoted Status: Not Quoted
Registered No.(ESP): A08116758
Presidente: José MarÃa Puig Planas
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3736 - Paper Product Wholesaling
2599 - Other Manufacturing Not Elsewhere Classified
3499 - Other Machinery and Equipment Wholesaling Not Elsewhere
Classified
NACE 2002 Codes:
3663 - Other manufacturing not elsewhere classified
5147 - Wholesale of other household goods
5185 - Wholesale of other office machinery and equipment
NAICS 2002 Codes:
423420 - Office Equipment Merchant Wholesalers
424120 - Stationery and Office Supplies Merchant Wholesalers
339999 - All Other Miscellaneous Manufacturing
US SIC 1987:
5112 - Stationery and Office Supplies
3999 - Manufacturing Industries, Not Elsewhere Classified
5044 - Office Equipment
UK SIC 2003:
51479 - Wholesale of other household goods not elsewhere classified
3663 - Other manufacturing not elsewhere classified
5185 - Wholesale of other office machinery and equipment
Business
Description
Manufacture of other plastic products
More Business
Descriptions
·
Manufacture of pocket lighters, stationery and
cosmetic pencils; marketing of imported stationery products and electronic
office equipment; licensed Agent for Walt Disney stationery; exclusive
distributor for Casio, Franklin and Saitek within Spain
·
Stationery Product Manufacturing
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Executive report
|
Board of
Directors |
|
|
|
|
|||
|
Chairman and General Manager |
Chairman |
|
|||
|
Presidente |
Chairman |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|
Executives |
|
|
|
|
|||
|
Presidente |
President |
|
|||
|
Chairman and General Manager |
Division Head Executive |
|
|||
|
Managing Director |
Managing Director |
|
|||
|
Managing Director |
Managing Director |
|
|||
|
Operations Director |
Operations Executive |
|
|||
|
Non Consellor Secretary |
Administration Executive |
|
|||
|
Board Secretary |
Administration Executive |
|
|||
|
Marketing Director |
Marketing Executive |
|
Annual Profit & Loss
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
68.3 |
75.5 |
63.8 |
|
Stock Reduction |
0.9 |
0.8 |
0.1 |
|
Supplies |
37.0 |
41.9 |
38.4 |
|
Goods Consumption |
26.4 |
28.7 |
27.6 |
|
Consumption of Raw
Materials |
7.3 |
9.1 |
7.3 |
|
Miscellaneous External
Expenditures |
3.3 |
4.2 |
3.5 |
|
Staff Costs |
14.7 |
16.3 |
13.9 |
|
Wages and Salaries |
11.2 |
12.7 |
10.7 |
|
Social Security Costs |
3.5 |
3.6 |
3.2 |
|
Depreciation |
1.5 |
1.9 |
1.6 |
|
Allowance for Trade Operations |
0.4 |
-0.7 |
0.7 |
|
Stock Provision
Variation |
0.4 |
-0.8 |
0.7 |
|
Losses from
Unrecovered Receivables |
-0.1 |
0.1 |
0.0 |
|
Other Operating Charges |
11.4 |
14.8 |
11.9 |
|
External Services |
11.2 |
14.5 |
11.6 |
|
Taxes |
0.2 |
0.2 |
0.3 |
|
Operating Benefits |
3.8 |
0.8 |
- |
|
Financials and Similar Charges |
0.1 |
0.4 |
0.6 |
|
Due to Liabilities
With Group Companies |
0.0 |
0.0 |
0.1 |
|
Due to Other
Liabilities |
0.1 |
0.3 |
0.6 |
|
Changes in Financial Investment Provisions |
0.0 |
- |
- |
|
Exchange Losses |
- |
0.5 |
0.3 |
|
Net Financial Income |
0.4 |
2.4 |
4.4 |
|
Profit From Ordinary Activities |
4.1 |
3.2 |
3.3 |
|
Changes in Provisions for Assets |
1.3 |
-1.0 |
-0.9 |
|
Losses From Assets and Securities Portfolio |
- |
0.0 |
0.0 |
|
Extraordinary Expenses |
- |
0.1 |
0.0 |
|
Expenses and Losses From Previous Years |
- |
0.1 |
0.1 |
|
Extraordinary Profit |
0.5 |
2.0 |
2.8 |
|
Profit Before Taxes |
4.6 |
5.2 |
6.1 |
|
Corporation Tax |
1.0 |
0.5 |
-2.9 |
|
Miscellaneous Taxes |
- |
- |
0.0 |
|
Financial Year Result (Profit) |
3.6 |
4.6 |
9.0 |
|
Income |
72.0 |
80.1 |
72.7 |
|
Net Total Sales |
69.2 |
75.1 |
65.0 |
|
Sales |
72.2 |
79.9 |
69.3 |
|
Rendering of Services |
1.4 |
- |
- |
|
Sales Refunds |
-4.4 |
-4.9 |
-4.2 |
|
Works Performed for Fixed Assets |
- |
0.0 |
- |
|
Miscellaneous Operating Income |
0.4 |
0.6 |
0.4 |
|
Auxiliary Income From
Current Management |
0.4 |
0.6 |
0.4 |
|
Grants |
0.0 |
0.0 |
0.0 |
|
Operating Losses |
- |
- |
1.2 |
|
Income From Equity Investment |
0.0 |
2.5 |
5.0 |
|
In Group Companies |
0.0 |
2.5 |
5.0 |
|
Third Parties |
- |
0.0 |
- |
|
Income From Other Securities and Receivables |
0.2 |
0.1 |
0.0 |
|
From Non-Group
Companies |
0.2 |
0.1 |
0.0 |
|
Income From Miscellaneous Interests |
0.2 |
0.1 |
0.1 |
|
From Group Companies |
0.1 |
0.0 |
- |
|
From Associated
Companies |
0.0 |
0.0 |
- |
|
Miscellaneous
Interests |
0.1 |
0.1 |
0.0 |
|
Profit on Financial
Investment |
0.0 |
0.0 |
0.0 |
|
Gains from Exchange Rate |
0.1 |
0.6 |
0.2 |
|
Profit on Disposal of Assets |
1.8 |
0.0 |
1.4 |
|
Extraordinary Income |
0.0 |
1.1 |
0.5 |
|
Income and Profit From Previous Years |
- |
- |
0.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Research and
Development Costs |
0.0 |
4.3 |
4.5 |
|
Concessions, Patents,
Trademarks |
- |
0.9 |
0.9 |
|
Software |
0.0 |
2.4 |
2.6 |
|
Accumulated
Depreciation |
- |
-7.3 |
-7.5 |
|
Total Intangible Fixed Assets |
0.1 |
0.3 |
0.5 |
|
Land and Construction |
12.0 |
13.9 |
14.5 |
|
Technical Installations
and Machinery |
4.1 |
35.2 |
36.2 |
|
Other Installations,
Tools, and Furniture |
1.8 |
15.9 |
16.6 |
|
Tangible Fixed Assets
Under Construction |
0.2 |
0.2 |
0.5 |
|
Other Tangible Assets |
0.8 |
6.5 |
6.7 |
|
Accumulated
Depreciation |
- |
-53.7 |
-54.9 |
|
Total Tangible Fixed Assets |
18.9 |
17.9 |
19.7 |
|
Investments in Group
Companies |
23.7 |
29.1 |
29.4 |
|
Receivables from Group
Companies |
0.1 |
1.0 |
- |
|
Credits to Associated
Companies |
0.0 |
0.0 |
- |
|
Long-Term Securities
Portfolio |
0.0 |
0.0 |
0.0 |
|
Long-Term Guarantees
and Deposits |
0.0 |
0.1 |
0.1 |
|
Provisions |
- |
-5.8 |
-7.1 |
|
Financial Investments |
23.9 |
24.4 |
22.4 |
|
Total Fixed Assets |
42.8 |
42.6 |
42.5 |
|
Deferred Expenses |
- |
0.1 |
0.2 |
|
Goods for Resale |
5.4 |
8.7 |
8.2 |
|
Raw Materials and
Other Consumables |
1.0 |
1.1 |
1.3 |
|
Goods in Process |
2.2 |
2.2 |
2.8 |
|
Finished Products |
2.4 |
3.1 |
3.6 |
|
Payments on Account |
0.2 |
0.4 |
0.4 |
|
Provisions |
- |
0.0 |
-0.8 |
|
Total Stocks |
11.2 |
15.6 |
15.5 |
|
Trade Debtors |
13.4 |
15.7 |
18.9 |
|
Receivables, Group
Companies |
3.8 |
3.9 |
3.2 |
|
Receivables,
Associated Companies |
- |
- |
0.0 |
|
Other Debtors |
0.6 |
0.1 |
0.0 |
|
Staff |
0.0 |
0.0 |
0.0 |
|
Public Bodies |
0.0 |
0.0 |
0.3 |
|
Provisions |
- |
-3.6 |
-3.7 |
|
Total Debtors |
17.9 |
16.1 |
18.9 |
|
Receivables from Group
Companies |
0.6 |
1.4 |
4.9 |
|
Short-Term Securities
Portfolio |
3.0 |
2.0 |
1.7 |
|
Other Receivables |
- |
1.6 |
5.4 |
|
Short-Term Guarantees
and Deposits |
14.6 |
- |
- |
|
Total Short-Term Investments |
18.3 |
4.9 |
12.0 |
|
Cash |
0.0 |
0.3 |
0.3 |
|
Prepayments and Accrued Income |
0.1 |
0.1 |
0.1 |
|
Total Current Assets |
47.5 |
37.0 |
46.8 |
|
Total Assets |
90.4 |
79.6 |
89.4 |
|
Legal Reserve |
5.0 |
4.4 |
3.7 |
|
Miscellaneous Reserves |
30.7 |
27.5 |
23.9 |
|
Capital Adjustment to
Euros |
- |
0.0 |
0.0 |
|
Total Reserves |
35.7 |
31.9 |
27.6 |
|
Profit or Loss for the Financial Year |
3.8 |
4.4 |
9.6 |
|
Total Equity |
66.2 |
62.1 |
64.4 |
|
Loans and Other
Liabilities |
1.7 |
- |
0.8 |
|
Long-Term Liabilities
from Capital Leases |
0.5 |
- |
- |
|
Total Amounts Owed to Credit Institutions |
2.2 |
- |
0.8 |
|
Amounts Owed to Group
Companies |
3.3 |
- |
- |
|
Total Debts with Group or Affiliated Companies |
3.3 |
- |
- |
|
Other Creditors |
1.4 |
0.8 |
0.6 |
|
Long-Term Payables to
Public Bodies |
0.0 |
- |
- |
|
Total Other Creditors |
1.4 |
0.8 |
0.6 |
|
Total Long Term Liabilities |
7.0 |
0.8 |
1.4 |
|
Loans and Other
Liabilities |
1.2 |
2.0 |
3.1 |
|
Accrued Interest on
Liabilities with Credit Instit |
- |
0.0 |
0.1 |
|
Short-Term Liabilities
from Capital Leases |
0.1 |
- |
- |
|
Total Amounts Owed to Credit Institutions |
1.3 |
2.0 |
3.2 |
|
Amounts Owed to Group
Companies |
4.5 |
3.0 |
6.6 |
|
Amounts Owed to
Associated Companies |
0.1 |
0.1 |
0.1 |
|
Total Short-Term Amounts Owed to Group and
Associa |
4.6 |
3.1 |
6.6 |
|
Advanced Payments from
Customers |
0.2 |
0.1 |
0.1 |
|
Amounts Owed for
Purchases of Goods or Services |
8.5 |
8.8 |
11.0 |
|
Total Trade Creditors |
8.7 |
8.9 |
11.1 |
|
Public Bodies |
0.9 |
0.7 |
0.8 |
|
Miscellaneous Debts |
0.0 |
0.1 |
0.9 |
|
Wages and Salaries
Payable |
1.4 |
1.2 |
1.0 |
|
Guarantees and
Deposits Received at Short Term |
0.2 |
0.6 |
- |
|
Total Other Creditors |
2.6 |
2.6 |
2.7 |
|
Prepayments and Accrued Income |
0.1 |
0.1 |
0.0 |
|
Total Short Term Creditors |
17.3 |
16.7 |
23.7 |
|
Total Liabilities and Equity |
90.4 |
79.6 |
89.4 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.80 |
|
UK Pound |
1 |
Rs.72.86 |
|
Euro |
1 |
Rs.63.11 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.