MIRA
INFORM REPORT
|
Report Date : |
27.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
MONTERO FYE, SA |
|
|
|
|
Registered Office : |
Calle Retuerto (Cr
Bilbao-Santander), 15,48903 Barakaldo Bizkaia |
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Country : |
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|
Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
30.11.1993 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing, Processing and |
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 : |
163.000,00 € |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name
MONTERO FYE, SA
TAX NUMBER: A48578934
Company situation: Active
Identification
Current Business Name: MONTERO FYE, SA
Commercial name: MONTERO
Other names: YES
Current Address: CALLE RETUERTO
(CR BILBAO-SANTANDER), 15, 48903 BARAKALDO BIZKAIA
Branches: 1
Telephone number: 944180011
Fax: 944189183
URL: www.monterofye.com
Corporate e-mail: access@monterofye.com
Trade Risk
Credit Appraisal: 163.000,00 €
Incidents: NO
Bank and business defaults of
payment - ASNEF EMPRESAS: NO
Financial Information
Latest sales
known (2010): 6.544.000,00
€ (Estimated)
Balance sheet latest
sales (2009): 5.963.350,00 € (Trade Register)
Result: 6.037 €
Total Assets: 5.825.632 €
Social Capital: 282.060,00 €
Employees: 50
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 30/11/1993
Activity: Cotton-type weaving
NACE 2009 CODE: 1310
International Operations: Imports and Exports
Corporate Structure
President:
MONTERO PERAL, FRANCISCO JAVIER
Participations: 3
Other Complementary Information
Latest act published in
BORME: 19/05/2011 Meeting notification
Latest press article: 17/07/2009 EL CORREO ESPAÑOL EL PUEBLO VASCO (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000 €)
Favourable to 163.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Slight |
|
Profitability |
Null |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business Trajectory |
|
Summary
LEGAL ACTIONS: No legal
actions registered at
ADMINISTRATIVE CLAIMS: No
administrative claims registered
AFFECTED BY: No
significant element.
BANK AND BUSINESS DEFAULTS OF PAYMENT - ASNEF EMPRESAS 
Summary
COMPANY NOT REGISTERED IN ASNEF EMPRESAS
There are no information on the
nif/cif provided in the Asnef Empresas file
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
The shaded amounts in the following financial statements have
been converted to the norms established in the PGC2007 derived from RD
1514/2007 and 1515/2007, this way comparatives could be shown with the amounts
of exercises initiated from 1/01/08.
Figures
given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
||
|
ASSETS |
|
|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
2.312.613,00 |
39,70 |
2.151.956,00 |
35,98 |
2.210.902,00 |
36,52 |
||
|
B) CURRENT ASSETS |
3.513.019,00 |
60,30 |
3.829.011,00 |
64,02 |
3.843.524,00 |
63,48 |
||
|
LIABILITIES |
|
|
|
|
|
|
||
|
A) NET WORTH |
2.461.499,00 |
42,25 |
2.438.699,00 |
40,77 |
2.299.150,90 |
37,97 |
||
|
B) NON CURRENT LIABILITIES |
844.838,00 |
14,50 |
490.792,00 |
8,21 |
709.581,10 |
11,72 |
||
|
C) CURRENT LIABILITIES |
2.519.295,00 |
43,25 |
3.051.476,00 |
51,02 |
3.045.694,00 |
50,31 |
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Balance Sheet Comments
Total assets of the company decreased in 2,60%
between 2.008 and 2.009.
In spite of the decrease in the amount of total assets, non
current assets grew 7,47%.
Assets reduction contrasts with net worth growth
of 0,93%. Therefore, the company’s indebtedness has reduced
in 5,03%.
Total assets of the company decreased in 1,21%
between 2.007 and 2.008.
This decrease has been greater in non current assets that reduced
in 2,67%.
Assets reduction contrasts with net worth growth
of 6,07%. Therefore, the company’s indebtedness has reduced
in 5,67%.
Profit and Loss Account
Analysis
Figures
given in €
|
|
2010 |
31/12/2009 (12) |
%
NET TURNOVER |
31/12/2008 (12) |
%
NET TURNOVER |
|
SALES |
6.544.000,00 |
5.963.350,00 |
|
7.598.847,00 |
|
|
GROSS MARGIN |
|
3.723.782,00 |
62,44 |
4.644.777,00 |
61,12 |
|
EBITDA |
|
397.688,00 |
6,67 |
729.006,00 |
9,59 |
|
EBIT |
|
252.436,00 |
4,23 |
558.002,00 |
7,34 |
|
NET RESULT |
|
6.037,00 |
0,10 |
258.602,00 |
3,40 |
|
EFFECTIVE TAX RATE (%) |
|
0,85 |
0,00 |
14,09 |
0,00 |
|
|
|
|
|
|
|
Profit and Loss Account Comments
The company’s sales figure decreased
in 21,52% between 2.008 and 2.009.
The company’s EBIT decreased
in 54,76% between 2.008 and 2.009.
This evolution implies a reduction in the economic
profitability of the company .
The result of these variations is a decrease of the
company’s Operating Profitability of 41,71% in the analysed period,
being this profitability of 7,14% in the year 2.009.
The Net Result of the company decreased
in 97,67% between 2.008 and 2.009.
The company’s Financial Profitability has been negatively
affected by the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the
company’s economic profitability of 97,98% in the analysed period,
being equal to 0,25% in the year 2.009 .
The company’s sales figure decreased
in 2,13% between 2.007 and 2.008.
The company’s EBIT decreased
in 6,14% between 2.007 and 2.008.
This evolution implies a reduction in the economic
profitability of the company .
The result of these variations is an increase of the
company’s Economic Profitability of 1,74% in the analysed period,
being equal to 12,25% in the year 2.008.
The Net Result of the company grew
in 17,00% between 2.007 and 2.008.
The company’s Financial Profitability has been positively
affected by the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the
company’s economic profitability of 11,66% in the analysed period,
being equal to 12,35% in the year 2.008 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures
expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on
the total assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
39,70 |
27,92 |
11,77 |
|
A) CURRENT ASSETS |
60,30 |
72,08 |
-11,77 |
|
LIABILITIES |
|||
|
A) NET WORTH |
42,25 |
46,69 |
-4,43 |
|
B) NON CURRENT LIABILITIES |
14,50 |
9,06 |
5,44 |
|
C) CURRENT LIABILITIES |
43,25 |
44,26 |
-1,01 |
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT
ANALYSIS: % on the total operating income |
|
|
|
|
SALES |
98,25 |
98,58 |
-0,33 |
|
GROSS MARGIN |
61,35 |
41,15 |
20,20 |
|
EBITDA |
6,55 |
6,19 |
0,36 |
|
EBIT |
4,16 |
1,70 |
2,46 |
|
NET RESULT |
0,10 |
0,22 |
-0,12 |
Sector Composition
Compared sector (NACE 2009): 131
Number of companies: 53
Size (Sales Figure): 2,800,000.00
- 7,000,000.00 Euros
Comments on the sectorial
comparative
Compared to its sector the assets of the companies
show a greater proportion of non current assets. Specifically the
difference with the sector average is 11,77% .
In liabilities composition the company appeals on a smaller
scale to self financing, being the Net Worth
proportion 4,43% inferior. As a consequence, external financing
sources are more used by the company ( 4,43% more than the sector) .
The proportion that the sales mean to the company’s total
ordinary income is 98,25% , an 0,33% lower than in the
sector .
The company’s EBIT was positive and was 4,16% with
regard to the total ordinary income, 2,46% superior to the one of the
sector .
The company’s capacity to generate operating income is
superior to that of the sector as its ratio EBIT/Sales is
greater. (0,04 in comparison with 0,02) .
The company’s net result was positive and equal
to 0,10% with regard to the total ordinary
income, -0,12% inferior to the one of the sector .
The financial results and the tax impact have had a negative
impact on the net result of the company with a worse behaviour that the one of
the sector.
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual
financial report 2009
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
6.037,00 |
Legal Reserve |
604,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
5.433,00 |
|
Total of Amounts to be
distributed |
6.037,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
6.037,00 |
Auditing
Source: filing
of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: ATTEST
SERVICIOS EMPRESARIALES S.L.
Auditing fees: 9.500,00 €
ADDRESSES
Current Legal Seat Address:
CALLE RETUERTO (CR BILBAO-SANTANDER), 15
48903 BARAKALDO BIZKAIA
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
BARRIO EL JUNCAL, S/N - -12 2ª PLANTA |
48510 |
VALLE DE TRAPAGA-TRAPAGARAN |
Bizkaia |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
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|
|
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|
Distribution of the
administration board |
|
|
Governing body : 8 members (latest
change: 10/08/2010) Other Positions : 3 (latest
change: 07/08/2006) Auditor : 1 (latest
change: 29/11/2010) Operative Board Members : 6 (latest
change: 04/05/2011) Non-current positions : 2 (latest
change: 13/10/2006) |
|
|
Main
Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
MONTERO PERAL, FRANCISCO JAVIER |
10/08/2010 |
|
VICE-PRESIDENT |
MONTERO PERAL, MARIA TERESA |
10/08/2010 |
|
MEMBER OF THE BOARD |
BENGURIA FERNANDEZ, ALVARO |
10/08/2010 |
|
MEMBER OF THE BOARD |
CARDENAL MONTERO, FRANCISCO |
10/08/2010 |
|
MEMBER OF THE BOARD |
MONTERO OTADUY, MARIA BEGONA |
10/08/2010 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
ATTEST SERVICIOS EMPRESARIALES SOCIEDAD LIMITADA |
29/11/2010 |
|
POSITION |
NAME AND SURNAME |
|
General Manager |
BENGURIA FERNANDEZ, ALVARO |
|
Financial Manager |
MONTERO, GUADALUPE |
|
Commercial Director |
GOMEZ, RAUL |
|
Marketing Director |
GOMEZ, RAUL |
|
Purchases Director |
CASTANO, ROSARIO |
|
Quality Director |
CASTANO, ROSARIO |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
BEAKY SA |
A48411995 |
35,57 |
OWN SOURCES |
05/05/2011 |
|
|
FUSSPRO SA |
A48412175 |
35,57 |
OWN SOURCES |
05/05/2011 |
|
|
MONTERO PERAL FRANCISCO JAVIER |
|
Indef. |
OWN SOURCES |
05/05/2011 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GESA MARTILLOS NEUMATICOS SA |
A48005128 |
74,00 |
OWN SOURCES |
18/01/1994 |
|
|
MANUFACTURAS E INVERSIONES |
|
35,00 |
TRADE REG. |
31/12/2009 |
|
|
PIQUES S.A.R.L |
|
15,00 |
OWN SOURCES |
16/12/2010 |
BUSINESS INFORMATION
Incorporation date: 30/11/1993
Code: 1433200
Activity: Cotton-type
weaving
NACE 2009 CODE: 1310
NACE 2009 Activity: Preparation
and spinning of textile fibres
Business: MANUFACTURING,
PROCESSING AND
Latest employees figure: 50 (2011)
% of fixed employees: 96,00%
% of temporary employees: 4,00%
% of men: 62,50%
% of women: 37,50%
Employees evolution
|
|
|
|
Source: Annual
financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
30 |
18 |
PURCHASES
Import Percentage: 60%
Imports from: UNION
EUROPEA Y OTROS PAISES
National Distribution: 40%
SALES
Credit collections: 100%
Export Percentage: 46%
Exports to: UNION
EUROPEA Y OTROS PAISES
National Distribution: 54%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
DU PONT |
YES |
|
TEIJIN TWARON |
YES |
|
RECINCAL SA |
NO |
|
PIQUES, S.A.R.L |
YES |
|
MANUFACTURERA E INSUMOS, S.A DE CV |
YES |
|
GARAY RECUBRIMIENTOS, S.A |
NO |
|
MONTERO |
YES |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
DETOP |
YES |
|
JUNTAS IND. Y NAVALES |
NO |
|
MANUFACTURERA E INSUMOS SA DE CV |
NO |
|
GARAY RECUBRIMIENTOS SA |
NO |
|
PIQUES SARL |
NO |
|
PIQUES, S.A.R.L |
YES |
|
RECINCAL, S.A |
NO |
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
1300 |
GRAN VIA, 12 |
|
Bizkaia |
|
|
|
|
BARAKALDO |
|
|
BANCO POPULAR |
|
|
|
|
|
BANCO DE SABADELL, S.A. |
|
|
|
|
|
BANCO SANTANDER, S.A. |
|
|
|
|
Summary of bank operations
Discount facilities: 8
Credit policy: 3
Mortgage loan: 0
Loans with no real security: 14
|
|
|
|
Entity:BANCO
POPULAR Debt type: Credit policy |
Granted limit:90.000,00
€ Used limit:77.405,00 € Available limit:12.595,00 € Source: Filed Accounts (2009) |
|
|
|
|
Entity:BANCO
GALLEGO, S.A. Debt type: Credit policy |
Granted limit:100.000,00
€ Used limit:61.415,00 € Available limit:38.585,00 € Source: Filed Accounts (2009) |
|
|
|
|
Entity:BANCO
POPULAR Debt type: Discount facilities |
Granted limit:200.000,00
€ Used limit:104.721,00 € Available limit:95.279,00 € Source: Filed Accounts (2009) |
|
|
|
|
Entity: Debt type: Credit policy |
Granted limit:200.000,00
€ Used limit:193.768,00 € Available limit:6.232,00 € Source: Filed Accounts (2009) |
|
|
|
|
Entity: Debt type: Discount facilities |
Granted limit:200.000,00
€ Used limit:76.538,00 € Available limit:123.462,00 € Source: Filed Accounts (2009) |
|
|
|
Figures
given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
|
|
Maquinaria-Carretilla Maquinaria-Retractilizadora
Maqunaria-Flomo Maquinaria-Maquina Coser Maquinaria-Troqueladora Maquinaria -
Recogedora Maquinaria - Compresor Equipos para Procesos de Información
Servidor Fábrica Maquinaria - Siena Maquinaria - Polipastos |
29.064,00 |
42.909,00 |
FORMER NAMES:
FIBRAS Y ELASTOMEROS SA
Brand name: BARLAN (Valid)
Type: DENOMINATIVE
Scope: NATIONAL
Date: 01/01/2009
Brand name: BELPA (Valid)
Type: JOINT
Scope: NATIONAL
Date: 01/09/2006
Brand name: M
MONTERO, S.A. (Valid)
Type: JOINT Scope: NATIONAL
Date: 01/08/2004
Brand name: M
MONTERO (Valid)
Type: GRAPHICAL
Scope: COMMUNITARY
Date: 02/04/2004
Brand name:
Type: JOINT
Scope: NATIONAL
Date: 01/12/1998
LEGAL STRUCTURE
Constitution Data
Register Date: 30/11/1993
Register town: Bizkaia
Announcement number: 150067
Legal form: Joint-stock
Company
Social Capital: 282.060,00 €
Paid-up capital: 282.060,00 €
Obligation to fill in Financial
Statements: YES
Chamber census: YES (2009)
B.O.R.M.E. (OFFICIAL COMPANIES
REGISTRY GAZETTE)
Acts on activity: 1 (Last: 13/10/2006)
Acts on administrators: 16 (Last:
29/11/2010, first: 27/05/1994)
Acts on capital: 2 (Last:
14/10/2009, first: 14/10/2009)
Acts on creation: 1 (Last: 27/05/1994)
Acts on filed accounts: 21 (Last:
02/12/2010, first: 24/10/1994)
Acts on identification: 1 (Last: 14/10/2009)
Acts on Information: 5 (Last: 19/05/2011, first:
10/02/1995)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Meeting notification |
19/05/2011 |
17702 |
|
|
Re-elections |
29/11/2010 |
441415 |
Bizkaia |
|
Appointments |
10/08/2010 |
314933 |
Bizkaia |
|
Resignations |
10/08/2010 |
314933 |
Bizkaia |
|
Change of business name |
14/10/2009 |
429394 |
Bizkaia |
|
Capital enlargement |
14/10/2009 |
429394 |
Bizkaia |
|
Capital reduction |
14/10/2009 |
429394 |
Bizkaia |
|
Registered activity change |
13/10/2006 |
493768 |
Bizkaia |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
02/12/2010 |
1123818 |
Bizkaia |
|
Annual Filed Accounts (2008) |
14/09/2009 |
415744 |
Bizkaia |
|
Annual Filed Accounts (2007) |
27/08/2008 |
341505 |
Bizkaia |
Press summary by type of information (last five years)
Legal notices: 3 (Last: 17/07/2009, first:
05/07/2006)
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 01/09/2000)
Latest press article
published
17/07/2009 EL
CORREO ESPAÑOL EL
EN LA JUNTA GRAL. ORDINARIA Y EXTRAORDINARIA, CELEBRADA EL
29/06/09,
10/07/2009 DEIA - LEGAL
ANNOUNCEMENTS
FIBRAS Y ELASTOMEROS, SA HA CAMBIADO SU DENOMINACION SOCIAL
POR LA DE MONTERO FYE, SA.
05/07/2006 EL
MUNDO DEPORTIVO - LEGAL ANNOUNCEMENTS
LA JUNTA GENERAL EXTRAORDINARIA DE LA SDAD., CELEBRADA EL
28/06/06, ACORDO LA MODIFICACION DEL OBJETO SOCIAL ELIMINANDO DEL MISMO TODA
REFERENCIA AL AMIANTO
Complementary Information
Financial Information
The balance ended 31/12/2008 (Deposit 2008) is available in reports, but no data in the new financial statements presented incorrectly.
Current situation
Society arises from the partial division of society Fibers
and Elastomers SA (now split up and called Recincal sa) block segregating and
transferring a portion of its assets to the newly created company Fibers and
Elastomers SA (beneficiary ).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.05 |
|
|
1 |
Rs.75.19 |
|
Euro |
1 |
Rs.66.47 |
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.