MIRA INFORM REPORT

 

 

Report Date :           

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

AIR VAL INTERNATIONAL SA

 

 

Registered Office :

Miquel Servet, 27 ( Pol. Ind. Cami Ral ), Gava, 08850

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1985

 

 

Com. Reg. No.:

A58008244

 

 

Legal Form :

Public Independent

 

 

Line of Business :

Manufacture of perfumes and toilet preparations

 

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 :

No Complaints

 

 

Litigation :

---

 

 

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

 

 Bottom of Form

 

Company name & address 

 

Air Val International Sa

Miquel Servet, 27 ( Pol. Ind. Cami Ral )

Gava, 08850

Spain

Tel:       +(34) 936355335

 

 

Synthesis  

 

Employees:                   47

Company Type:            Public Independent

Incorporation Date:         1985

Auditor:                        Silchris Auditores Sl      

Financials in:                 USD (Millions)

Fiscal Year End:            21-Sep-2010

Reporting Currency:       Euro

Annual Sales:                27.3  1

Net Income:                   0.3

Total Assets:                 23.8

 

 

Business Description     

 

Manufacture of perfumes and toilet preparations

 

Industry

Industry            Personal and Household Products

ANZSIC 2006:    1852 - Cosmetic and Toiletry Preparation Manufacturing

NACE 2002:      2452 - Manufacture of perfumes and toilet preparations

NAICS 2002:     325620 - Toilet Preparation Manufacturing

UK SIC 2003:    2452 - Manufacture of perfumes and toilet preparations

US SIC 1987:    2844 - Perfumes, Cosmetics, and Other Toilet Preparations

 

 

Key Executives   

 

Name

Title

 

Nuria Garcia Capdevila

Chief Executive Officer, Member Of The Board, Secretary

 

Francisco Garcia Hernandez

Member Of The Board, President

 

Garcia Capdevila Nuria

Financial Director

 

Planas Bibiana

Marketing Director

 

Vegas Teruel Victor

Director/General Manager

 

 

 Registered No.(ESP): A58008244

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7387732

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7614697

 

 

Corporate Overview

 

Location

Miquel Servet, 27 ( Pol. Ind. Cami Ral )

Gava, 08850

Spain

Tel:       +(34) 936355335

 Suggest Company URL

           

Sales EUR(mil):             20.2

Assets EUR(mil):           18.1

Employees:                   47

Fiscal Year End:            21-Sep-2010

Industry:                        Personal and Household Products

Incorporation Date:         1985

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     A58008244

Chief Executive Officer,

Member Of The Board:   Eva Garcia Capdevila

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1852     -          Cosmetic and Toiletry Preparation Manufacturing

 

NACE 2002 Codes:

2452     -          Manufacture of perfumes and toilet preparations

 

NAICS 2002 Codes:

325620  -          Toilet Preparation Manufacturing

 

US SIC 1987:

2844     -          Perfumes, Cosmetics, and Other Toilet Preparations

 

UK SIC 2003:

2452     -          Manufacture of perfumes and toilet preparations

 

Business Description

Manufacture of perfumes and toilet preparations

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

20.2

Net Income:

0.2

Assets:

18.1

Current Assets:

16.0

 

Fixed Assets:

2.1

 

Long Term Debt:

0.4

 

Total Liabilities:

18.1

 

Issued Capital:

0.1

 

Net Worth:

4.2

 

 

 

Date of Financial Data:

21-Sep-2010

 

1 Year Growth

-2.8%

NA

NA

 

 

Key Corporate Relationships

Auditor:

Silchris Auditores Sl

Bank:

Argentaria, Caja Postal Y Banco Hipotecario, S.A., Banca Catalana, S.A., Banco Atlantico, S.A., Banco Bilbao Vizcaya Argentaria, S.A., Banco De Sabadell, S.A., Banco De Santander, Banco Exterior De España, S.A., Banco Santander Central Hispano, S.A., Banco Zaragozano, S.A., Bankinter, S.A.

 

Auditor:

Silchris Auditores Sl

 

 

 

 

 

Executive report

 

 

Board of Directors

 

Name

Title

Function

 

Concepcion Capdevila Blanco

 

Member Of The Board

Director/Board Member

 

Eva Garcia Capdevila              

 

Chief Executive Officer, Member Of The Board

Director/Board Member

 

Nuria Garcia Capdevila

 

Chief Executive Officer, Member Of The Board, Secretary

Director/Board Member

 

David Garcia Capdevila

 

Member Of The Board, Chief Executive Officer

Director/Board Member

 

Francisco Garcia Hernandez

 

Member Of The Board, President

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Eva Garcia Capdevila

 

Chief Executive Officer, Member Of The Board

Chief Executive Officer

 

Nuria Garcia Capdevila

 

Chief Executive Officer, Member Of The Board, Secretary

Chief Executive Officer

 

David Garcia Capdevila

 

Member Of The Board, Chief Executive Officer

Chief Executive Officer

 

Francisco Garcia Hernandez

 

Member Of The Board, President

President

 

Vegas Teruel Victor

 

Director/General Manager

Division Head Executive

 

Garcia Capdevila David

 

Managing Director

Managing Director

 

Garcia Capdevila Nuria

 

Financial Director

Finance Executive

 

Planas Bibiana

 

Marketing Director

Marketing Executive

 

Garcia Capdevila Eva

 

Commercial Manager

Commercial 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

28.3

30.6

31.8

    Stock Reduction

0.9

1.3

-

    Supplies

14.9

15.7

18.7

        Goods Consumption

0.9

0.8

1.7

        Consumption of Raw Materials

10.1

9.2

10.4

        Miscellaneous External Expenditures

3.9

5.7

6.5

    Staff Costs

2.7

2.9

2.4

        Wages and Salaries

2.2

2.4

2.0

        Social Security Costs

0.5

0.5

0.4

    Depreciation

0.6

0.6

0.4

    Allowance for Trade Operations

0.3

0.0

0.4

        Stock Provision Variation

-0.1

-

0.4

        Losses from Unrecovered Receivables

0.4

0.0

0.0

    Other Operating Charges

8.3

8.7

8.4

        External Services

8.2

8.7

8.4

        Taxes

0.0

0.1

0.0

Operating Benefits

0.6

1.7

1.7

    Financials and Similar Charges

0.6

1.0

0.7

        Due to Other Liabilities

0.6

1.0

0.7

    Changes in Financial Investment Provisions

0.0

-

-

    Exchange Losses

-

0.4

0.7

Profit From Ordinary Activities

0.1

0.4

0.6

    Extraordinary Expenses

-

-

0.0

Extraordinary Profit

0.3

0.0

0.0

Profit Before Taxes

0.4

0.4

0.6

    Corporation Tax

0.1

0.1

0.2

Financial Year Result (Profit)

0.3

0.3

0.4

Income

28.6

31.0

32.3

    Net Total Sales

28.0

30.3

30.4

        Sales

29.8

32.2

32.3

        Sales Refunds

-1.8

-1.9

-1.9

    Increase in Stocks

-

-

1.4

    Miscellaneous Operating Income

0.2

0.6

0.2

        Auxiliary Income From Current Management

0.2

0.6

0.2

        Grants

0.0

0.0

0.0

    Income From Equity Investment

0.0

0.0

0.0

        In Group Companies

-

-

0.0

        Third Parties

0.0

0.0

-

    Income From Miscellaneous Interests

0.1

0.0

0.0

        From Group Companies

0.1

-

-

        Miscellaneous Interests

0.0

0.0

0.0

        Profit on Financial Investment

-

0.0

-

    Gains from Exchange Rate

0.0

-

0.3

Negative Financial Results

0.5

1.3

1.1

    Profit on Disposal of Assets

0.0

0.0

0.0

    Capital Grants Transferred to Profit and Loss

-

-

0.0

    Extraordinary Income

0.3

0.0

0.0

    Income and Profit From Previous Years

-

-

0.0

 

 

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

 

 

 

 

        Software

0.2

0.1

0.1

        Assets Under Capital Lease

-

-

0.9

        Accumulated Depreciation

-

-

-0.3

    Total Intangible Fixed Assets

0.2

0.1

0.8

        Technical Installations and Machinery

1.1

1.1

2.0

        Other Installations, Tools, and Furniture

1.2

1.2

2.2

        Tangible Fixed Assets Under Construction

0.1

0.2

0.3

        Other Tangible Assets

0.3

0.3

0.6

        Accumulated Depreciation

-

-

-3.2

    Total Tangible Fixed Assets

2.6

2.9

1.8

        Investments in Group Companies

-

-

0.1

        Long-Term Securities Portfolio

0.0

0.0

0.0

        Other Receivables

0.3

0.2

0.1

        Long-Term Guarantees and Deposits

0.0

0.1

0.1

        Provisions

-

-

-0.1

    Financial Investments

0.3

0.3

0.2

Total Fixed Assets

3.1

3.2

2.8

Deferred Expenses

-

-

0.1

        Goods for Resale

1.3

1.4

2.0

        Raw Materials and Other Consumables

4.7

6.4

8.5

        Goods in Process

0.6

1.1

1.2

        Finished Products

1.2

1.4

2.4

        Payments on Account

0.1

-

0.2

        Provisions

-

-

-0.5

    Total Stocks

7.9

10.3

13.8

        Trade Debtors

11.6

10.7

15.1

        Receivables, Group Companies

-

-

0.5

        Other Debtors

0.1

0.0

0.1

        Staff

0.0

0.0

-

        Public Bodies

0.1

0.1

0.3

        Provisions

-

-

-0.3

    Total Debtors

11.8

10.8

15.6

        Other Receivables

1.9

0.8

0.7

        Short-Term Guarantees and Deposits

0.1

0.0

-

    Total Short-Term Investments

2.0

0.9

0.7

    Cash

0.8

0.6

1.2

    Prepayments and Accrued Income

0.4

0.3

0.2

Total Current Assets

22.9

22.9

31.6

Total Assets

26.0

26.1

34.4

        Legal Reserve

0.0

0.0

0.0

        Miscellaneous Reserves

5.7

5.2

5.0

    Total Reserves

5.7

5.2

5.0

    Profit or Loss for the Financial Year

0.3

0.3

0.5

Total Equity

6.1

5.6

5.6

        Loans and Other Liabilities

0.3

0.1

0.0

        Long-Term Liabilities from Capital Leases

0.2

0.3

0.5

    Total Amounts Owed to Credit Institutions

0.5

0.4

0.5

        Long-Term Guarantees and Deposits Received

0.1

0.1

0.1

        Long-Term Payables to Public Bodies

0.1

0.1

0.1

    Total Other Creditors

0.2

0.2

0.2

Total Long Term Liabilities

0.6

0.6

0.7

        Loans and Other Liabilities

10.4

11.6

14.3

        Short-Term Liabilities from Capital Leases

0.2

0.2

0.2

    Total Amounts Owed to Credit Institutions

10.6

11.7

14.5

        Amounts Owed to Group Companies

-

-

0.3

    Total Short-Term Amounts Owed to Group and Associa

-

-

0.3

        Advanced Payments from Customers

0.2

0.3

-

        Amounts Owed for Purchases of Goods or Services

5.7

5.9

11.0

        Debts Represented by Notes Payable

-

-

0.4

    Total Trade Creditors

5.9

6.2

11.4

        Public Bodies

0.3

0.2

0.3

        Miscellaneous Debts

2.4

1.7

1.5

        Wages and Salaries Payable

0.1

0.1

0.1

    Total Other Creditors

2.8

2.0

2.0

Total Short Term Creditors

19.3

20.0

28.1

Total Liabilities and Equity

26.0

26.1

34.4

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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%)

 

 

 

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.