MIRA INFORM REPORT
|
Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
JESUS NAVARRO SA |
|
|
|
|
Registered Office : |
Calle Isaac
Peral, 46, 03660 Novelda Alicante |
|
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Country : |
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|
|
|
Financials (as on) : |
31.12.2009 |
|
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Date of Incorporation : |
01.01.1929 |
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Legal Form : |
Sole Corporation |
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Line of Business : |
Manufacturer of other food products n |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
825.000,00 € |
|
|
|
|
Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
JESUS NAVARRO SA
TAX NUMBER: A08941544
EXECUTIVE SUMMARY
Identification
Current Business Name: JESUS NAVARRO SA
Commercial Name: CARMENCITA
Other names: YES
Current Address: CALLE ISAAC PERAL, 46
Branches: 1
Telephone number: 965600150 Fax: 965603012
URL: www.carmencita.com
Corporate e-mail: admin@carmencita.com
Trade Risk
Credit Appraisal: 825.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 48.096.100,05 €
(Trade Register)
Result: 2.573.384,48 €
Total Assets: 21.975.856,06 €
Social Capital: 3.401.728,51 €
Employees: 188
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 04/10/1984
Activity: Mfg. of other food products n.e.c.
NACE 2009 CODE: 1089
International Operations: Imports and
Exports
Corporate Structure
President:
Parent Company:
Participations: 3
Other Complementary Information
Latest act published in BORME: 11/10/2010 Annual Filed Accounts
Latest press article: 03/06/2009 EXPANSIÓN (GENERAL
INFORMATION)
Bank Entities: There are
The date when this report was last updated is 19/02/2011.
The information contained in this report has been investigated and
contrasted on 04/11/2010
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 825.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Bad |
|
Profitability |
Sufficient |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Excellent |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
BANK AND BUSINESS
DEFAULTS OF PAYMENT - ASNEF INDUSTRIAL
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 |
5.013.839,10 |
22,82 |
4.974.666,02 |
22,53 |
5.017.693,71 |
21,05 |
|
B) CURRENT ASSETS |
16.962.016,96 |
77,18 |
17.102.207,23 |
77,47 |
18.818.709,44 |
78,95 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
9.236.578,84 |
42,03 |
7.863.194,36 |
35,62 |
7.187.666,13 |
30,15 |
|
B) NON CURRENT LIABILITIES |
599.518,09 |
2,73 |
1.218.530,09 |
5,52 |
1.847.858,26 |
7,75 |
|
C) CURRENT LIABILITIES |
12.139.759,13 |
55,24 |
12.995.148,80 |
58,86 |
14.800.878,76 |
62,09 |
|
|
|
|
|
|
|
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Balance Sheet
Comments
Total assets of the company decreased in 0,46%
between 2.008 and 2.009.
In spite of the decrease in the amount of total assets, non current
assets grew 0,79%.
Assets reduction contrasts with net worth growth
of 17,47%. Therefore, the company’s indebtedness has reduced
in 10,37%.
Total assets of the company decreased in 7,38% between 2.007 and 2.008.
This total assets decrease has been reflected in a reduction of non
current assets of 0,86%.
Assets reduction contrasts with net worth growth
of 9,40%. Therefore, the company’s indebtedness has reduced
in 14,63%.
Profit and Loss Account Analysis
Figures given in €
|
|
31/12/2009 (12) |
% NET TURNOVER |
31/12/2008 (12) |
% NET TURNOVER |
31/12/2007 (12) |
% NET TURNOVER |
|
SALES |
48.096.100,05 |
|
49.910.717,99 |
|
46.654.603,91 |
|
|
GROSS MARGIN |
20.945.796,49 |
43,55 |
21.192.696,41 |
42,46 |
21.329.430,94 |
45,72 |
|
EBITDA |
4.744.067,58 |
9,86 |
3.678.122,57 |
7,37 |
4.070.124,09 |
8,72 |
|
EBIT |
3.945.154,44 |
8,20 |
2.624.387,39 |
5,26 |
3.020.814,73 |
6,47 |
|
NET RESULT |
2.573.384,48 |
5,35 |
1.585.528,23 |
3,18 |
1.585.508,32 |
3,40 |
|
EFFECTIVE TAX RATE (%) |
29,96 |
0,00 |
27,15 |
0,00 |
32,02 |
0,00 |
Profit and Loss
Account Comments
The company’s sales figure decreased
in 3,64% between 2.008 and 2.009.
The company’s EBIT grew in 50,33% between 2.008 and 2.009.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is an increase of the company’s Economic
Profitability of 40,86% in the analysed period, being equal
to 20,89% in the year 2.009.
The Net Result of the company grew
in 62,30% between 2.008 and 2.009.
The company’s Financial Profitability has been positively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the company’s Economic
Profitability of 43,71% in the analysed period, being equal
to 39,78% in the year 2.009 .
The company’s sales figure grew
in 6,98% between 2.007 and 2.008.
The company’s EBIT decreased
in 13,12% between 2.007 and 2.008.
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 2,69% in the analysed period, being this
profitability of 14,83% in the year 2.008.
The Net Result of the company grew
in 0,00% 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 14,70% in the analysed period, being equal
to 27,68% 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 |
22,82 |
60,96 |
-38,14 |
|
A) CURRENT ASSETS |
77,18 |
39,04 |
38,14 |
|
LIABILITIES |
|
|
|
|
A) NET WORTH |
42,03 |
29,89 |
12,14 |
|
B) NON CURRENT LIABILITIES |
2,73 |
32,72 |
-30,00 |
|
C) CURRENT LIABILITIES |
55,24 |
37,39 |
17,85 |
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
99,92 |
97,14 |
2,78 |
|
GROSS MARGIN |
43,51 |
47,15 |
-3,64 |
|
EBITDA |
9,86 |
12,68 |
-2,83 |
|
EBIT |
8,20 |
9,75 |
-1,55 |
|
NET RESULT |
5,35 |
5,65 |
-0,30 |
Sector Composition
Compared sector (NACE 2009): 1089
Number of companies: 17
Size (Sales Figure): > 40,000,000.00 Euros
Comments on the sectorial
comparative
Compared to its sector the assets of the companies show an
inferior proportion of non current assets. Specifically the difference with the
sector average is -38,14% .
In liabilities composition the company appeals on a wider scale to self
financing, being the proportion of Net Worth of 12,14% major. As a
consequence, external financing sources are less used by the company
( 12,14% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 99,92% , an 2,78% higher than in the sector .
The company’s EBIT was positive and was 8,20% with regard to
the total ordinary income, 1,55% inferior to the one of the sector .
The company’s capacity to generate operating income is inferior to that of
the sector as its ratio EBIT/Sales is inferior (0,08 in comparison
with 0,10) .
The company’s net result was positive and equal to 5,35% with
regard to the total ordinary income, -0,30% inferior to the one of
the sector .
The financial results and the tax impact have had a less negative impact
on the net result of the company that in 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 |
2.573.384,48 |
Legal Reserve |
257.338,44 |
|
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 |
1.116.046,04 |
|
Total of Amounts to be distributed |
2.573.384,48 |
Dividends |
1.200.000,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
2.573.384,48 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: PLETA AUDITORES S.L.
Auditing fees: 48.850,00 €
Facts subsequent
to the closing
Source: Annual financial report 2009
Posterior to the closure there were no relevant facts that require the
inclusion in the annual accounts.
company ADDRESSES
Current Legal Seat
Address:
CALLE ISAAC
PERAL, 46
03660 NOVELDA
Previous Seat
Address:
CALLE
08008
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE GUZMAN EL BUENO, 133 |
28003 |
|
|
There are 1 branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Main Board members,
Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
NAVARRO VALERO JESUS |
29/07/2008 |
|
|
MANAGING DIRECTOR |
NAVARRO NAVARRO JESUS LORENZO |
29/07/2008 |
|
|
MEMBER OF THE BOARD |
ESCOLANO NAVARRO FRANCISCO |
29/07/2008 |
|
|
AUDITOR |
APPOINTMENT DATE |
||
|
PLETA AUDITORES SA |
15/06/2004 |
||
There are 4 board members, directors and auditors registered
Functional
Managers
|
POSITION |
NAME AND SURNAME |
|
Financial Director |
FONTECHA JAVIER |
|
Commercial Director |
ESCOLANO NAVARRO FRANCISCO |
|
Marketing Director |
NAVARRO ALBEROLA JESUS |
|
Exports Director |
ALONGINA JAVIER |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
INVERSIONES EL PORCHE SL. |
B53775961 |
100,00 |
OWN SOURCES |
04/11/2010 |
There are 1 direct financial links through shareholders
registered
Company with rating inferior to 7
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
POMA ROSA SA (EN LIQUIDACION) |
A30071864 |
100,00 |
TRADE REG. |
31/12/2009 |
|
|
GRECOM SA |
|
74,37 |
OWN SOURCES |
04/11/2010 |
|
|
CORPORACION DE OPERADORES DE AZAFRAN ESPANOL SOCIEDAD LIMITADA. |
B02443059 |
12,50 |
OWN SOURCES |
04/11/2010 |
Company with rating inferior to 7
CREDIT INFORMATION
Incorporation date: 04/10/1984
Establishment date: 01/01/1929
Founder’s Name: JESUS NAVARRO JOVER
Activity: Mfg. of other food products n.e.c.
NACE 2009 CODE: 1089
NACE 2009 Activity: Manufacture of other food products n.e.c.
Business: COMERCIO AL POR MAYOR, ENVASADO Y FABRICACION DE
PRODUCTOS ALIMENTICIOS.
Latest employees figure: 188 (2010)
% of fixed employees: 51,06%
% of temporary employees: 48,94%
% of men: 48,31%
% of women: 51,69%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
86 |
92 |
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 15%
Imports from: HOLANDA,
National Distribution: 85%
SALES
Export Percentage: 4%
Exports to: ARABIA, EEUU, FRANCIA, GRAN BRETAÑA, ITALIA,
ALEMANIA,
National Distribution: 96%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
MANUFACTURAS CEILAN |
NO |
|
GRECOM SA |
NO |
|
AZUCARERA |
NO |
|
CATESA |
NO |
There are 4 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
CARREFOUR |
NO |
|
MERCADONA |
NO |
|
GRECOM, SA |
NO |
|
EBRO PULEVA SA |
NO |
|
AZUCARERA |
NO |
There are 5 Clients
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
NOVELDA |
|
|
BANCO POPULAR |
|
|
NOVELDA |
|
|
BANCO SANTANDER, S.A. |
|
|
NOVELDA |
|
|
|
|
|
NOVELDA |
|
There are 4 bank entities registered
Summary of bank operations
Discount facilities: 1
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 0
|
|
|
|
Debt type: Discount
facilities |
Granted limit:3.520.000,00 € Used limit:12.949,80 € Available limit:3.507.050,20
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Credit policy |
Granted limit:3.738.700,00 € Used limit:0,00 € Available limit:3.738.700,00
€ Source: Filed
Accounts (2009) |
|
|
|
There are 2 bank operations registered
Grants
|
Body-entity: CONSEJERÍA DE
AGRICULTURA PESCA Y ALIMENTACION Grant
type: Other grants (grouped amounts or not classified) |
Nominal amount:
9.920,00 € Amount
received in the exercise: 9.920,00 € Amount
pending collection: 0,00 € Source:
Filed Accounts (2009) |
|
Operation description: Ayudas para la
revalorización, promoción y mejora en el marco de la calidad. |
|
|
|
|
|
Body-entity: SERVEF Grant
type: Other grants (grouped amounts or not classified) |
Nominal amount:
5.000,00 € Amount
received in the exercise: 5.000,00 € Amount
pending collection: 0,00 € Source:
Filed Accounts (2009) |
|
Operation description: Ayudas a la
creación de empleo. |
|
|
|
|
|
Body-entity: SERVEF Grant
type: Other grants (grouped amounts or not classified) |
Nominal amount:
2.058,00 € Amount
received in the exercise: 2.058,00 € Amount
pending collection: 0,00 € Source:
Filed Accounts (2009) |
|
Operation description: Internacionalización y promoción
comercial. |
|
|
|
|
FORMER NAMES:
•
PROALIMENT
Brand name: LA PAGODA MARCA REGISTRADA (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 07/10/2010
Brand name: POMA
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 14/05/2010
Brand name: EL MANDARIN (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 09/03/2010
Brand name: CARMENCITA (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 06/06/2008
Brand name: CARMENCITA TE CHAI (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 17/12/2007
There are 75 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register
Date: 04/10/1984
Legal form: Sole Corporation
Social
Capital: 3.401.728,51 €
Paid-up
capital: 3.401.728,51 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES
REGISTRY GAZETTE)
· Acts on activity: 0
· Acts on administrators: 34 (Last: 29/07/2008, first: 25/07/1991)
· Acts on capital: 4 (Last: 01/08/1994, first: 29/06/1993)
· Acts on creation: 0
· Acts on filed accounts: 21 (Last: 11/10/2010, first: 15/11/1991)
· Acts on identification: 3 (Last: 01/12/1997, first: 07/12/1994)
· Acts on Information: 5 (Last: 29/07/2008, first: 29/06/1993)
· Acts on proceedings: 5 (Last: 07/12/1994, first: 25/06/1992)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Modification of the Articles of Association |
29/07/2008 |
365564 |
|
|
Re-elections |
29/07/2008 |
365564 |
|
|
Appointments |
29/07/2008 |
365564 |
|
|
Resignations |
29/07/2008 |
365564 |
|
|
Appointments |
15/06/2004 |
270163 |
|
|
Declaration of individual ownership |
10/06/2004 |
265109 |
|
|
Re-elections |
18/08/2003 |
321612 |
|
|
Appointments |
18/08/2003 |
321612 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
11/10/2010 |
788992 |
|
|
Annual Filed Accounts (2008) |
29/12/2009 |
1063946 |
|
|
Annual Filed Accounts (2007) |
01/10/2008 |
708531 |
|
There are 72 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 4 (Last: 03/06/2009, first: 09/04/2006)
Financial Information: 0
Negative information: 0
Business lines: 4 (Last: 13/03/2009, first: 27/01/2006)
Historical press releases: 39 (Last: 12/12/2005, first:
19/04/1993)
Latest press
article published
03/06/2009 EXPANSIÓN - GENERAL INFORMATION
CARMENCITA, MARCA LIDER DE ESPECIAS, ES UNA DE LAS POCAS CIAS. QUE SON
INTERPROVEEDORAS DE MERCADONA Y QUE AL MISMO TIEMPO MANTIENEN SU PROPIA MARCA.
LA APUESTA DE FUTURO ES CLARA HACIA LA ENSEÑA DEL DISTRIBUIDOR Y HACIA MERCADONA
COMO UNICO CLIENTE EN ESTA MODALIDAD. ACTUALMENTE, CARMENCITA TIENE UNA CUOTA
DE MERCADO
13/03/2009 INFORMATION - BUSINESS PRIZES
ESTA SDAD. HA RESULTADO GALARDONADA EN LA III GALA DE LOS PREMIOS ALFIL,
QUE ORGANIZA LA ASOCIACION TERCIARIO AVANZADO DE ALICANTE PARA DISTINGUIR A LAS
EMPRESAS MAS CREATIVAS E INNOVADORAS DE LA PROVINCIA. PROALIMENT-JESUS NAVARRO
RECIBIO EL PREMIO TRAYECTORIA EMPRESARIAL.
20/01/2008 LAS PROVINCIAS - PRODUCTS AND
ACTIVITIES
PROALIMENT, LA CIA. ALICANTINA QUE COMERCIALIZA LA FIRMA CARMENCITA, HA
AUMENTADO SUS LINEAS DE NEGOCIO ENTRANDO EN LA GAMA DE LAS INFUSIONES.
There are 47 press articles registered for this company
Complementary Information
Financial Information
El balance cerrado a 31/12/2008 (Deposito 2008) esta disponible en
INFORMA, pero existen datos en los nuevos estados contables incorrectamente
presentados.
Clients and/or suppliers
Marcas Registradas: ‘CARMENCITA’; ‘AMALUR’; ‘MANDARIN’; ‘HENGSTENBERG’ Y
‘SIESTA’
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
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 |
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.