MIRA INFORM REPORT

 

 

Report Date :           

22.08.2011

 

IDENTIFICATION DETAILS

 

Name :

QUALICAPS EUROPE SA

 

 

Registered Office :

Cl. La Granja, 49, Alcobendas, 28108

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1992

 

 

Com. Reg. No.:

A80412836

 

 

Legal Form :

Public Subsidiary Company

 

 

Line of Business :

Supplier of two-piece capsules, equipment and technology: pharmaceutical capsules; health and nutrition capsules; manufacture of capsule filling and sealing equipment; manufacture of check-weighing and inspection machinery

 

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

 

Company name & address 

 

Qualicaps Europe Sa

 

Cl. La Granja, 49

Alcobendas, 28108

Spain

Tel:       +(34) 916630800

Fax:      +(34) 916630830

 Web:   www.shionogi-qualicaps.com

           

 

Synthesis

 

Employees:                  234

Company Type:            Public Subsidiary

Corporate Family:          14 Companies

Ultimate Parent:             Shionogi & Co., Ltd.

Incorporation Date:         1992

Auditor:                        Kpmg Auditores Sl        

Financials in:                 USD (Millions)

Fiscal Year End:            03-Mar-2011

Reporting Currency:       Euro

Annual Sales:               54.3  1

Net Income:                   4.4

Total Assets:                69.1

 

 

Business Description     

 

Supplier of two-piece capsules, equipment and technology: pharmaceutical capsules; health and nutrition capsules; manufacture of capsule filling and sealing equipment; manufacture of check-weighing and inspection machinery

 

Industry

Industry            Biotechnology and Drugs

ANZSIC 2006:    1841 - Human Pharmaceutical and Medicinal Product Manufacturing

NACE 2002:      2442 - Manufacture of pharmaceutical preparations

NAICS 2002:     325412 - Pharmaceutical Preparation Manufacturing

UK SIC 2003:    24421 - Manufacture of medicaments

US SIC 1987:    2834 - Pharmaceutical Preparations

 

           


Key Executives   

 

Name

Title

Carlos Martinez Sierra

President, Member Of The Board

Oscar Sanchez-Vilar Burdiel

Non Consellor Secretary

Enrique Requejo Gabas

Quality Control Manager

Juan Francisco Bermejo Bueno

Joint Attorney

Kawahara Hiroshi

Member Of The Board

 Bottom of Form

 

Registered No.(ESP): A80412836

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7590174

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7173858

 

 

Corporate Overview

 

Location

Cl. La Granja, 49

Alcobendas, 28108

Spain

Tel:       +(34) 916630800

Fax:      +(34) 916630830

Web:    www.shionogi-qualicaps.com

           

Sales EUR(mil)              41.2

Assets EUR(mil):           49.5

Employees:                   234

Fiscal Year End:            03-Mar-2011

Industry:                        Biotechnology and Drugs

Incorporation Date:         1992

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Previous Name: Shionogi Qualicaps SA

Registered No.(ESP):     A80412836

Quality Control Manager: Enrique Requejo Gabas

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Branch Offices

·         Key Corporate Relationships

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1841     -          Human Pharmaceutical and Medicinal Product Manufacturing

2469     -          Other Specialised Machinery and Equipment Manufacturing

 

NACE 2002 Codes:

2924     -          Manufacture of other general purpose machinery not elsewhere classified

2442     -          Manufacture of pharmaceutical preparations

 

NAICS 2002 Codes:

325412  -          Pharmaceutical Preparation Manufacturing

333298  -          All Other Industrial Machinery Manufacturing

 

US SIC 1987:

2834     -          Pharmaceutical Preparations

3559     -          Special Industry Machinery, Not Elsewhere Classified

 

UK SIC 2003:

24421   -          Manufacture of medicaments

2924     -          Manufacture of other general purpose machinery not elsewhere classified

 

Business Description

Wholesale of pharmaceutical goods

 

More Business Descriptions

 

Supplier of two-piece capsules, equipment and technology: pharmaceutical capsules; health and nutrition capsules; manufacture of capsule filling and sealing equipment; manufacture of check-weighing and inspection machinery

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

41.2

Net Income:

3.3

Assets:

49.5

Current Assets:

30.8

 

Fixed Assets:

18.8

 

Long Term Debt:

0.1

 

Total Liabilities:

49.5

 

Issued Capital:

15.6

 

Net Worth:

36.1

 

 

 

Date of Financial Data:

03-Mar-2011

 

1 Year Growth

-9.9%

NA

NA

 

Branch Offices

Location 
Avda Icaria 150
Barcelona, 08005

 

Tel: +(34) 932255043

     

Key Corporate Relationships

Auditor: Kpmg Auditores Sl

Bank:    Banco Bilbao Vizcaya Argentaria, S.A., The Bank Of Tokyo-Mitsubishi Ltd., S.E.

 

Auditor: Kpmg Auditores Sl

 

 

Corporate Family

Corporate Structure News:

 

Shionogi & Co., Ltd.
Qualicaps Europe Sa

Total Corporate Family Members: 14 
Excluded Small Branches and/or Trading Addresses: 2 (Available via export) 

 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Shionogi & Co., Ltd.

Parent

Osaka

Japan

Biotechnology and Drugs

3,295.0

5,277

 

Acquisition of C & O Pharmaceutical Tech (Holdings) Ltd proposed/announced.See corporate structure news on Shionogi & Co., Ltd. for details

 

Qualicaps Europe Sa

Subsidiary

Alcobendas, Madrid

Spain

Biotechnology and Drugs

54.3

234

Qualicaps Inc

Subsidiary

Whitsett, NC

United States

Biotechnology and Drugs

6.0

175

Qualicaps Company Limited

Subsidiary

Yamato Koriyama

Japan

Medical Equipment and Supplies

 

282

Taiwan Shionogi & Co Ltd

Subsidiary

Taipei

Taiwan

Biotechnology and Drugs

1.0

170

Shionogi Inc

Subsidiary

Atlanta, GA

United States

Biotechnology and Drugs

382.3

150

Victory Pharma Inc

Subsidiary

San Diego, CA

United States

Biotechnology and Drugs

 

 

MiddleBrook Pharmaceuticals Inc

Subsidiary

Westlake, TX

United States

Biotechnology and Drugs

14.8

22

Shionogi & Company Limited

Branch

Taipei

Taiwan

Biotechnology and Drugs

1.0

150

Shionogi Institute For Medical Sci.

Subsidiary

Osaka

Japan

Healthcare Facilities

1.0

 

Shionogi & Company Limited-Aburahi

Subsidiary

Koka

Japan

Biotechnology and Drugs

1.0

 

Shiongi Developmental Research Lab.

Subsidiary

Osaka

Japan

Biotechnology and Drugs

1.0

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Kawahara Hiroshi

 

Member Of The Board

Director/Board Member

 

Carlos Martinez Sierra

 

President, Member Of The Board

Director/Board Member

 

Harris Ryan

 

Member Of The Board

Director/Board Member

 

Salvatore Sarno Michael

 

Member Of The Board

Director/Board Member

 

Tomioka Takaomi

 

Member Of The Board

Director/Board Member

 

Stephen H Wise

 

Member Of The Board

Director/Board Member

 

 

 

Executives

 

Name

Title

Function

 

Carlos Martinez Sierra

 

President, Member Of The Board

President

 

Oscar Sanchez-Vilar Burdiel

 

Non Consellor Secretary

Administration Executive

 

Juan Francisco Bermejo Bueno

 

Joint Attorney

Legal Executive

 

Manuel Fernandez Gil

 

Joint Attorney

Legal Executive

 

Enrique Requejo Gabas

 

Quality Control Manager

Quality Executive

 

Ltd Qualicaps Co

 

Single Partner

Partner

 

 

 

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

53.3

98.5

56.5

    Stock Reduction

0.3

0.8

-

    Supplies

15.4

19.3

18.3

        Consumption of Raw Materials

15.4

19.3

18.3

    Staff Costs

16.8

16.4

15.2

        Wages and Salaries

12.4

12.3

11.6

        Social Security Costs

4.3

4.1

3.7

    Depreciation

3.1

2.9

2.5

    Allowance for Trade Operations

0.2

-0.2

0.2

        Stock Provision Variation

0.1

-0.2

0.2

        Losses from Unrecovered Receivables

0.1

0.0

0.0

    Other Operating Charges

13.6

15.0

13.1

        External Services

13.4

14.8

12.9

        Taxes

0.3

0.2

0.2

Operating Benefits

7.9

12.6

13.7

    Financials and Similar Charges

0.2

0.1

0.5

        Due to Liabilities With Group Companies

-

0.1

0.4

        Due to Other Liabilities

0.2

-

0.1

    Changes in Financial Investment Provisions

1.5

38.7

-

    Exchange Losses

-

-

0.9

Net Financial Income

-

-

0.4

Profit From Ordinary Activities

6.7

-

14.1

    Losses From Assets and Securities Portfolio

0.0

-

-

    Extraordinary Expenses

0.1

-

0.8

Extraordinary Profit

-

1.1

2.8

Profit Before Taxes

6.6

-

16.9

    Corporation Tax

2.0

5.4

4.9

Financial Year Result (Profit)

4.7

-

12.0

Income

57.9

75.2

68.5

    Net Total Sales

57.3

66.9

62.9

        Sales

57.3

66.9

62.9

    Increase in Stocks

-

-

0.1

    Miscellaneous Operating Income

0.0

0.0

0.1

        Auxiliary Income From Current Management

-

-

0.1

        Grants

0.0

0.0

-

    Income From Other Securities and Receivables

0.0

0.8

0.2

        From Non-Group Companies

0.0

0.8

0.2

    Income From Miscellaneous Interests

0.5

1.9

0.9

        From Group Companies

0.5

1.4

0.8

        Miscellaneous Interests

0.0

0.5

0.2

    Gains from Exchange Rate

0.0

4.5

0.6

Negative Financial Results

1.1

31.5

-

Ordinary Activities' Losses

-

18.9

-

    Profit on Disposal of Assets

-

0.0

0.2

    Extraordinary Income

-

1.1

0.0

    Income and Profit From Previous Years

-

-

3.5

Negative Extraordinary Results

0.1

-

-

Losses Before Taxes

-

17.9

-

Financial Year Result (Losses)

-

23.3

-

 

 

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

0.1

0.2

0.9

        Accumulated Depreciation

-

-

-0.8

    Total Intangible Fixed Assets

0.1

0.2

0.2

        Land and Construction

13.5

13.4

20.6

        Technical Installations and Machinery

6.0

6.5

27.9

        Other Installations, Tools, and Furniture

3.7

4.0

17.1

        Tangible Fixed Assets Under Construction

1.8

1.0

1.6

        Other Tangible Assets

0.2

0.3

1.1

        Accumulated Depreciation

-

-

-42.9

    Total Tangible Fixed Assets

25.3

25.2

25.4

        Investments in Group Companies

1.4

1.4

-

        Other Receivables

0.0

0.0

0.0

        Long-Term Guarantees and Deposits

0.0

0.0

0.0

    Financial Investments

1.5

1.4

0.0

Total Fixed Assets

26.9

26.8

25.6

        Raw Materials and Other Consumables

3.6

3.6

3.3

        Goods in Process

0.2

0.1

0.3

        Finished Products

3.6

3.2

6.0

        Provisions

-

-

-0.4

    Total Stocks

7.4

6.9

9.2

        Trade Debtors

9.2

11.1

11.6

        Receivables, Group Companies

0.1

0.3

0.2

        Other Debtors

0.1

0.1

0.1

        Staff

0.0

0.0

0.0

        Public Bodies

0.5

0.4

0.8

        Provisions

-

-

-0.4

    Total Debtors

9.9

11.8

12.3

        Receivables from Group Companies

24.5

12.1

34.7

        Short-Term Securities Portfolio

-

6.0

7.5

    Total Short-Term Investments

24.5

18.1

42.2

    Cash

2.2

0.7

0.6

    Prepayments and Accrued Income

0.2

0.2

0.2

Total Current Assets

44.2

37.7

64.5

Total Assets

71.1

64.5

90.1

    Revaluation Reserves

1.3

2.6

1.9

        Legal Reserve

4.5

4.3

4.6

        Miscellaneous Reserves

18.8

39.0

28.4

        Capital Adjustment to Euros

0.0

0.0

0.0

    Total Reserves

23.3

43.3

33.0

    Profit or Loss for the Financial Year

4.8

-22.1

12.8

Total Equity

51.8

45.5

70.5

        Unrealised Exchange Gains

-

-

0.9

Total Deferred Income

-

-

0.9

        Long-Term Payables to Public Bodies

0.1

0.2

-

    Total Other Creditors

0.1

0.2

-

Total Long Term Liabilities

0.1

0.2

-

        Amounts Owed to Group Companies

11.7

7.4

7.6

    Total Short-Term Amounts Owed to Group and Associa

11.7

7.4

7.6

        Advanced Payments from Customers

0.1

0.1

-

        Amounts Owed for Purchases of Goods or Services

5.4

8.4

6.3

    Total Trade Creditors

5.5

8.4

6.3

        Public Bodies

1.2

2.2

3.1

        Miscellaneous Debts

0.1

0.1

0.2

        Wages and Salaries Payable

0.7

0.8

1.5

    Total Other Creditors

2.0

3.1

4.8

Total Short Term Creditors

19.2

18.9

18.7

Total Liabilities and Equity

71.1

64.5

90.1

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.