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MIRA
INFORM REPORT
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Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
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Name : |
COCA-COLA AMATIL (AUST) PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29.11.1996 |
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Legal Form : |
Proprietary Limited Company |
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Line of Business : |
Manufacture and distribution of a range of carbonated soft drinks and functional beverages |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Very 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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CORPORATE REPORT
REGISTERED NAME
COCA-COLA AMATIL
(AUST) PTY LTD
ACN: 076 594 119
ABN: 68 076 594
119
CORPORATE SEARCH
Incorporation Date: 29 Nov 1996
Registered Office 14/40 MOUNT Street
Number of Shares Issued: 508026071
Paid Capital: 508026071
Shareholders COCA-COLA AMATIL LIMITED
Number of Shares: 508026071
Directors KERSWELL, GRANT DAVID
Appointment Date:
03 Apr 2009
Date of Birth: 10
Jul 1968
Gender: Male
Address:
Resident
Overseas: No
HERBERT, BRUCE ALEXANDER
Appointment Date:
02 Jun 2006
Date of Birth: 10
Oct 1960
Gender: Male
Address:
Resident
Overseas: No
O'SULLIVAN, NESSA
ITA
Appointment Date:
07 Jul 2005
Date of Birth: 29
Nov 1964
Gender: Female
Address:
Resident
Overseas: No
WAGSTAFF, ALEC
Appointment Date:
07 Jul 2005
Date of Birth: 17
May 1958
Gender: Male
Address: 31 OSBORNE
Road MANLY,
Resident
Overseas: No
FITZGERALD, PAUL
GERARD
Appointment Date:
07 Jul 2005
Date of Birth: 03
Feb 1965
Gender: Male
Address:
Resident
Overseas: No
WHITE, WARWICK
GRAHAM
Appointment Date:
13 Nov 2002
Date of Birth: 08
Apr 1961
Gender: Male
Address:
Resident
Overseas: No
DAVIS, TERRY
JAMES
Appointment Date:
20 Nov 2001
Date of Birth: 13
Nov 1957
Gender: Male
Address: 353
Resident
Overseas: No
MALLOY, PATRICK
JOSEPH
Appointment Date:
28 Jul 2000
Date of Birth: 21
Jul 1952
Gender: Male
Address: 11
Resident
Overseas: No
Secretary GEORGE THOMAS FORSTER AND OTHERS
Appointment Date:
14 Feb 2007
BUSINESS STRUCTURE
TRADING ADDRESS 40
Mount Street
TELEPHONE (612)
9259 6532
CONTROLLED ENTITIES APAND
P/L
BAYMAR
P/L
BEVERAGE BOTTLERS (NQ) P/L
BEVERAGE BOTTLERS (QLD) P/L
CAN RECYCLING (SA) P/L
COCA COLA AMATIL (HOLDINGS) P/L
CRUSTA FRUIT JUICES P/L
QUENCHA CRUSTA SALES P/L
QUIRKS
HOLDING ENTITY COCA
COLA AMATIL LTD
BANK
Not determined
EMPLOYEES over
15,000 (group)
BACKGROUND
The subject was incorporated in
The holding entity Coca Cola Amatil Ltd was formed following a major
re-organisation in 1989 of Amatil Limited, one of
In 1989/1990 the group sold it’s interests in poultry, tobacco,
communications and packaging, leading to a concentration on its core businesses
of beverages and snack foods.
The involvement of Coca-Cola Amatil in the beverages industry dates back
to 1964 with the company’s acquisition of Shelleys and Marchant in
In 1982 Amatil made its first beverages investment overseas with the
acquisition of Coca-Cola bottling franchises in
In 1993 Coca-Cola Amatil sold its snack foods interests to United
Biscuits and, as a result, now focuses entirely on beverages.
Today, there are seven bottling plants in
On 5 December 2007, Pacific Beverages, the subjects 50:50 alcohol joint
venture with SABMiller plc acquired Bluetongue Brewery.
On 29 January 2008, the subject announced the successful completion of
its $170.0 million off-market share buy-back. A total of 21.7 million shares
were bought back at a price of $7.84, which represents a 14% discount to the
market price.
OPERATIONS
The subject operates in the manufacture and distribution of a range of
carbonated soft drinks and functional beverages including:
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Baycorp Advantage Limited on 23 December 2010 traced
the following litigation listed against the subject at that date.
Payment Defaults
Account Number: 21032826
Account Type: Telecommunication Service
Role in Payment Default: Principal
Latest Credit Provider: OPTUS FINANCIAL SERVS
NSW
Latest Date: 06 Sep 2007
Latest Amount: 212
Latest Reason to Report: Payment Default
Original Credit Provider: OPTUS FINANCIAL
SERVS NSW
Original Date: 06 Sep 2007
Original Amount: 212
Original Reason to Report: Payment Default
Court Actions
Action Date: 10 Jul 2007
Amount: 8208
Creditor: ROBERT VANOS
Plaint Number: 7358/06/2DWN
FINANCES
The subject is not required to lodge financial statements with the
Australian Securities and Investments Commission.
The subject is noted to have entered into a Deed of Cross Guarantee
pursuant to a Class Order with its Holding entity Coca Cola Amatil Limited, a
corporation that is listed on the Australian Stock Exchange. The effect of the
Deed is that each party that forms part of the closed group guarantee the debts
of each other.
From the most recently lodged financial statements, it is noted that for
the financial year ended 31 December 2009 the Group recorded consolidated
revenue of $4,546,800,000, which resulted in an operating profit before tax of
$653,400,000 and an operating profit after tax of $449,000,000 representing a
Net Profit Margin of 9.88%.
For the same period the closed group recorded an operating profit before
tax of $563,300,000 and an operating profit after tax of $406,600,000.
Below is a summary of the Group’s consolidated income results for the
past two financial years.
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Coca-Cola
Amatil Ltd - consolidated |
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As at 31 December 2009 |
As at 31 December 2008 |
Change (%) |
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Revenue |
$4,546,800,000 |
$4,228,100,000 |
7.54% |
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Profit b/tax |
$653,400,000 |
$535,600,000 |
21.99% |
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Profit a/tax |
$449,000,000 |
$404,300,000 |
11.06% |
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Net Profit Margin |
9.88% |
9.56% |
0.31% |
During fiscal 2009, the group recorded Net Cashflows from operating
activities totalling $751,300,000.
As at 31 December 2009 the Group recorded total consolidated current assets
of $2,479,900,000. They included cash of $864,400,000, receivables of
$777,600,000 and Inventories of $753,900,000.
Current liabilities at the same date totalled $1,822,100,000 and
included payables of $621,300,000 and borrowings of $607,300,000.
As at 31 December 2009 the Group recorded consolidated Working Capital
of $657,800,000 and a current ratio of 1.36 to 1 indicating satisfactory
liquidity levels.
At the same date the closed group recorded Working Capital of $616.8
million and a current ratio of 1.42 to 1.
Net Assets totalled $1,600,100,000 as at 31 December 2009. At this date,
the subject further recorded a Debt to Equity ratio of 2.48 to1.
At the same date the closed group recorded Net Assets of $1,600,100,000.
For the six months ended 2 July 2010 the group recorded consolidated
revenue of $2,175.9 million which resulted in an operating profit before tax of
$237.3 million and an operating profit after tax of $212.7 million.
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Coca-Cola
Amatil Ltd - consolidated |
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As at 31 December 2009 |
As at 31 December 2008 |
Change (%) |
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Revenue |
$4,546,800,000 |
$4,228,100,000 |
7.54% |
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Profit b/tax |
$653,400,000 |
$535,600,000 |
21.99% |
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Profit a/tax |
$449,000,000 |
$404,300,000 |
11.06% |
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Net Profit Margin |
9.88% |
9.56% |
0.31% |
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Current Assets |
$2,479,900,000 |
$1,858,900,000 |
33.41% |
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Non Current Assets |
$3,090,900,000 |
$3,233,100,000 |
-4.40% |
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Total Assets |
$5,570,800,000 |
$5,092,000,000 |
9.40% |
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Current Liabilities |
$1,822,100,000 |
$1,085,200,000 |
67.90% |
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Non Current Liabilities |
$2,148,600,000 |
$2,634,800,000 |
-18.45% |
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Total Liabilities |
$3,970,700,000 |
$3,720,000,000 |
6.74% |
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Net Assets |
$1,600,100,000 |
$1,372,000,000 |
16.63% |
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Working Capital |
$657,800,000 |
$773,700,000 |
-14.98% |
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Current Ratio |
1.36 |
1.71 |
-20.55% |
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Debt to Equity |
2.48 |
2.71 |
-8.48% |
TRADE SURVEY
During the current investigation, contact with the subject’s principals was
unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
The subject is noted to have entered into a Deed of Cross Guarantee
pursuant to a Class Order with its Holding entity Coca Cola Amatil Limited, a
corporation that is listed on the Australian Stock Exchange.
For the financial year ended 31 December 2009 the Group recorded
consolidated revenue of $4,546,800,000, which resulted in an operating profit
before tax of $653,400,000 and an operating profit after tax of $449,000,000
representing a Net Profit Margin of 9.88%.
For the same period the closed group recorded an operating profit before
tax of $563,300,000 and an operating profit after tax of $406,600,000.
During fiscal 2009, the group recorded Net Cashflows from operating
activities totalling $751,300,000.
As at 31 December 2009 the closed group recorded Working Capital of
$616.8 million and a current ratio of 1.42 to 1.
At the same date the closed group recorded Net Assets of $1,600,100,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.84 |
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1 |
Rs.69.32 |
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Euro |
1 |
Rs.59.79 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.