MIRA INFORM REPORT

 

 

Report Date :           

22.08.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

MESPACK SL

 

 

Registered Office :

Calle Mar Adriatic 18 ( Pol. Ind. Can Roca ), Santa Perpetua De Mogoda, 08130

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1994

 

 

Com. Reg. No.:

B60718749

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Development of building projects

 

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 :

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 – 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 

 

Mespack Sl

Calle Mar Adriatic 18 ( Pol. Ind. Can Roca )

Santa Perpetua De Mogoda, 08130

Spain

Tel:       +(34) 937193480

Web:    www.mespack.com

 

 

synthesis  

 

Employees:                  72

Company Type:            Private Independent

Incorporation Date:         1994

Auditor:                        Acr Auditecnia Sl          

Financials in:                 USD (Millions)

Fiscal Year End:            30-Jun-2011

Reporting Currency:       Euro

Annual Sales:               38.4  1

Net Income:                  6.9

Total Assets:                 32.6

 

 

Business Description     

 

Development of building projects

 

Industry

Industry            Construction Services

ANZSIC 2006:    3211 - Land Development and Subdivision

NACE 2002:      7011 - Development and selling of real estate

NAICS 2002:     236117 - New Housing Operative Builders

UK SIC 2003:    7011 - Development and selling of real estate

US SIC 1987:    655 - Land Subdividers and Developers

 

           

Key Executives   

 

Name

Title

Grau Sala Marina

Managing Director

Reinout Van Zijp

Managing Director

Bandera Xabier

Financial Director

Marti Carulla Alex

Marketing Director

99 Sl Geinfisar

Joint Manager

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7347003

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6897265

 

 

Corporate Overview

 

Location

Calle Mar Adriatic 18 ( Pol. Ind. Can Roca )

Santa Perpetua De Mogoda, 08130

Spain

Tel:       +(34) 937193480

Web:    www.mespack.com

           

Sales EUR(mil):             28.2

Assets EUR(mil):           22.5

Employees:                   72

Fiscal Year End:            30-Jun-2011

Industry:                        Construction Services

Incorporation Date:         1994

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     B60718749

Managing Director:         Grau Sala Marina

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3211     -          Land Development and Subdivision

 

NACE 2002 Codes:

7011     -          Development and selling of real estate

 

NAICS 2002 Codes:

236117  -          New Housing Operative Builders

 

US SIC 1987:

655       -          Land Subdividers and Developers

 

UK SIC 2003:

7011     -          Development and selling of real estate

 

Business Description

Development of building projects

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

28.2

Net Income:

5.0

Assets:

22.5

Current Assets:

22.1

 

Fixed Assets:

0.4

 

Long Term Debt:

0.1

 

Total Liabilities:

22.5

 

Issued Capital:

0.5

 

Net Worth:

9.1

 

 

 

Date of Financial Data:

30-Jun-2011

 

1 Year Growth

31.6%

NA

NA

 

 

Key Corporate Relationships

Auditor:

Acr Auditecnia Sl

Bank:

Banco Bilbao Vizcaya Argentaria, S.A., Commerzbank Aktiengesellschaft, S.E.

 

Auditor:

Acr Auditecnia Sl

 

 

 

 

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Grau Sala Marina

 

Managing Director

Managing Director

 

Reinout Van Zijp

 

Managing Director

Managing Director

 

Reinout Van Zijp Y Comercial

 

Managing Director

Managing Director

 

99 Sl Geinfisar

 

Joint Manager

Administration Executive

 

Bandera Xabier

 

Financial Director

Finance Executive

 

Marti Carulla Alex

 

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

32.8

27.8

22.1

    Stock Reduction

-

0.8

-

    Supplies

16.6

14.1

11.9

        Goods Consumption

-

13.4

-

        Consumption of Raw Materials

16.3

0.3

11.5

        Miscellaneous External Expenditures

0.3

0.3

0.4

    Staff Costs

6.5

5.7

4.8

        Wages and Salaries

5.2

4.6

3.9

        Social Security Costs

1.3

1.1

0.9

    Depreciation

0.6

0.3

0.5

    Allowance for Trade Operations

0.3

0.0

0.0

        Stock Provision Variation

0.3

-

-

        Losses from Unrecovered Receivables

0.0

0.0

0.0

    Other Operating Charges

5.8

5.2

4.0

        External Services

5.8

5.2

4.0

        Taxes

0.0

0.0

0.0

Operating Benefits

9.6

5.0

2.3

    Financials and Similar Charges

0.1

0.1

0.1

        Due to Other Liabilities

0.1

0.1

0.1

    Exchange Losses

0.1

0.2

0.2

Net Financial Income

0.0

0.1

0.1

Profit From Ordinary Activities

9.6

5.1

2.4

Extraordinary Profit

0.1

0.0

-

Profit Before Taxes

9.8

5.2

2.4

    Corporation Tax

2.8

1.4

0.6

Financial Year Result (Profit)

7.0

3.7

1.8

Income

39.8

31.6

23.8

    Net Total Sales

39.2

31.2

21.7

        Sales

38.5

30.8

21.5

        Rendering of Services

0.7

0.4

0.2

    Increase in Stocks

0.3

-

1.7

    Miscellaneous Operating Income

0.0

0.0

0.1

        Auxiliary Income From Current Management

0.0

0.0

0.0

        Grants

-

-

0.1

    Income From Miscellaneous Interests

0.2

0.3

0.3

        Miscellaneous Interests

0.2

0.3

0.3

    Gains from Exchange Rate

-

-

0.0

    Capital Grants Transferred to Profit and Loss

0.1

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

 

 

 

 

        Research and Development Costs

-

-

1.1

        Concessions, Patents, Trademarks

0.0

0.0

0.0

        Software

0.0

0.0

0.1

        Accumulated Depreciation

-

-

-1.2

    Total Intangible Fixed Assets

0.0

0.0

0.1

        Technical Installations and Machinery

0.1

0.0

0.1

        Other Installations, Tools, and Furniture

0.3

0.2

0.6

        Other Tangible Assets

0.1

0.1

0.2

        Accumulated Depreciation

-

-

-0.5

    Total Tangible Fixed Assets

0.5

0.3

0.4

        Other Receivables

-

0.0

0.0

        Long-Term Guarantees and Deposits

0.0

0.0

0.0

    Financial Investments

0.0

0.0

0.0

Total Fixed Assets

0.6

0.4

0.5

        Raw Materials and Other Consumables

2.8

2.9

2.6

        Goods in Process

2.6

2.3

3.2

        Byproducts and Recovered Materials

0.1

0.1

0.2

        Payments on Account

0.0

0.0

0.2

        Provisions

-

-

-0.1

    Total Stocks

5.6

5.3

6.1

        Trade Debtors

9.9

4.0

3.6

        Other Debtors

-

0.0

0.0

        Staff

-

0.0

0.0

        Public Bodies

2.1

0.4

0.5

        Provisions

-

-

-0.2

    Total Debtors

12.0

4.4

3.9

        Short-Term Securities Portfolio

6.3

4.7

2.6

        Short-Term Guarantees and Deposits

0.0

0.0

0.0

    Total Short-Term Investments

6.3

4.7

2.6

    Cash

7.8

6.8

5.0

    Prepayments and Accrued Income

0.0

0.0

0.0

Total Current Assets

31.7

21.3

17.5

Total Assets

32.2

21.7

18.0

        Legal Reserve

0.2

0.2

0.2

        Miscellaneous Reserves

4.9

3.7

2.8

    Total Reserves

5.1

3.9

3.1

    Profit or Loss for the Financial Year

7.2

3.5

1.9

Total Equity

13.1

8.2

5.8

        Other Provisions

0.4

0.9

0.6

        Reversion Fund

-

-

0.2

Total Provisions for Liabilities and Charges

0.4

0.9

0.9

        Long-Term Payables to Public Bodies

0.1

-

-

    Total Other Creditors

0.1

-

-

Total Long Term Liabilities

0.1

-

-

        Loans and Other Liabilities

1.7

1.7

1.8

    Total Amounts Owed to Credit Institutions

1.7

1.7

1.8

        Advanced Payments from Customers

7.6

4.8

4.8

        Amounts Owed for Purchases of Goods or Services

7.4

5.2

4.2

    Total Trade Creditors

15.0

10.1

9.0

        Public Bodies

1.8

0.7

0.3

        Wages and Salaries Payable

0.2

0.1

0.2

        Guarantees and Deposits Received at Short Term

-

-

0.1

    Total Other Creditors

2.0

0.8

0.6

Total Short Term Creditors

18.7

12.6

11.4

Short Term Provisions for Liabilities and Charges

-

0.0

-

Total Liabilities and Equity

32.2

21.7

18.0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.61

UK Pound

1

Rs.75.32

Euro

1

Rs.65.68

 

 

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.