|
EUROPE, CHINA, INDIA,
GREECE, NETHERLANDS, GERMANY,
BULGARIA,
FAR EAST: 98%
Payment terms:
CAD (Cash Against Documents)
|
|
|
Agencies:
|
|
Non Retrievable
|
|
Trade Suppliers:
|
|
Non Retrievable
|
Description Of Premises
|
|
Address:
|
Pallouriotissa,
21, Markou Drakou Street
1040 Nicosia CYPRUS
|
|
Type of
premises:
|
Premises
|
|
Size:
|
100 Sq.
Metres
|
|
Type of
ownership:
|
owned
|
|
Area:
|
Business /
Commercial Area
|
|
Headquarters:
|
The company
operates from owned offices which are located at the address given
overleaf. Total size of premises is 100 square meters.
The address provided above is also the subjects' registered address.
|
|
Branches:
|
Subject
maintains 3 branches:
1) Kaimakli Industrial Area,11-13
Stylianou Lena Street, Kaimakli, 1028, Nicosia,
Cyprus. These
are owned warehouse premises. Size: 12000 square metres.
Operates as a warehouse and a scrap yard.
2) Ypsonas Industrial Area, Ypsonas, 4180, Limassol, Cyprus.
These are owned
warehouse premises. Size: 10000 square metres. Operates as a warehouse.
3)Mari, Limassol, Cyprus. These are rented
factory premises(reportedly a part is owned). Operates as shreader plant.
|
|
|
Related Companies
|
|
Affiliated Company
A. EPIPHANIOU INDUSTRIES LIMITED , CYPRUS , National ID: C7496
Affiliated Company
CO.E. BEST COOL LIMITED , CYPRUS , National ID: C89837
Affiliated Company
CYLIFT & EQUIPMENT LIMITED , CYPRUS , National ID: C98939
Affiliated Company
FANOS N. EPIFANIOU D.E. LTD , CYPRUS , National ID: C2086
Affiliated Company
HYDROTHERM COMPANY LIMITED , CYPRUS , National ID: C9823
Affiliated Company
L&K. E. BEST COOL LIMITED , CYPRUS , National ID: C107478
Affiliated Company
LORDOS & EPIPHANIOU ESTATES & CONSTRUCTIONS LIMITED , CYPRUS ,
National ID: C11243
Affiliated Company
ME. E. BEST COOL LIMITED , CYPRUS , National ID: C92348
Affiliated Company
MITSULIFT & EQUIPMENT (HELLAS) , GREECE
Affiliated Company
P. & Z.E. BEST COOL LIMITED , CYPRUS , National ID: C99542
Affiliated Company
PHANOS EPIPHANIOU HELLAS LIMITED , GREECE
Shareholding Company
PHANOS EPIPHANIOU HOLDINGS LIMITED , CYPRUS , National ID: C109651
Affiliated Company
SIDEP LIMITED , CYPRUS , National ID: C112159
Affiliated Company
STELMECO LIMITED , CYPRUS , National ID: C127549
*PLEASE NOTE ADDITIONAL INFORMATION ON RELATED COMPANIES:
"PHANOS EPIPHANIOU HOLDINGS LIMITED" - Shareholding Company
registered in Cyprus on 08.03.2000 under the registration number C109651.
"PHANOS N. EPIPHANIOU PUBLIC LTD” – Associated company registered in Cyprus on
15.04.1968 under the registration number C2086. It is involved in the trade
of steel an dmetal products, sanitary ware and ceramic tiles, tools and
machinery, air – conditioning systems, as well as technical products.
"PHANOS EPIPHANIOU HELLAS LIMITED” – Branch, established and
registered in Greece.
It operates, since 1992, in Athens
and is involved in the same line of business as the company in question,
giving more emphasis on tools and machinery.
"CO. E. Best Cool Ltd” – Associated company registered in Cyprus on
23.10.1997 under the registration number C89837. Deals with the retail
trade of Daikin air-conditioning units, of Japan.
"ME. E. Best Cool Ltd” – Affiliated company registered in Cyprus on
04.02.1998 under the registration number C92348. Operating in Limassol
city, dealing with the retail trade of Daikin air-conditioning units, of Japan.
"P. & Z. E. Best Cool Ltd” – Associated company registered in Cyprus on
05.01.1999 under the registration number C99542. Operating in Larnaca city,
dealing with the retail trade of Daikin air-conditioning units, of Japan.
"L&K. E. Best Cool Ltd” – Affiliated company registered in Cyprus on
20.12.1999 unde the registration number C107478, and it was dissolved on
05.11.2008. Used to deal with the retail trade of Daikin air-conditioning
units, of Japan.
"Cylift & Equipment Ltd” – Affiliated company registered in Cyprus on
08.12.1998 under the registration number C98939. Dealing with the fitting
of lifts and escalators. They are the sole agents of Mitsubishi lifts and
escalators of Japan
and ORONA of Spain.
"Mitsulift & Equipment (Hellas)” – Foreign subsidiary company,
located in Athens, Greece dealing with the fitting of
Mitsubishi lifts and escalators of Japan and ORONA of Spain.
"Sidep Ltd” – Affiliated company registered in Cyprus on
14.06.2000 under the registration number C112159. Located in Limassol city,
dealing with cutting, bending and fixing reinforcing steel.
"HYDROTHERM COMPANY LIMITED ” – Affiliated Company registered in Cyprus
on 12.08.1977 under the registration number C9823.
"A. EPIPHANIOU INDUSTRIES LIMITED” – Associated Company registered in Cyprus on
24.10.1975 under the registration number C7496. Operates as manufacturers
of welding electrodes, wires, nails, etc
"Stelmeco Limited" - Affiliated Company registered in Cyprus on
31.01.2002 under the registration number C127549.
"Lordos & Epiphaniou Estates Limited" - Affiliated company
registered in Cyprus
on 13/07/1978 under the registration number C11243
|
Bankers
|
|
BANK OF CYPRUS
PUBLIC COMPANY LIMITED
Corporate Banking,6 Evrou Str, Markides Bld, 2003, Strovolos,Tel.:357
22847913 Fax:357 22336367
CYPRUS DEVELOPMENT BANK PUBLIC COMPANY LIMITED
MARFIN POPULAR BANK PUBLIC CO LTD
39, Archibishop Makariou iii Avenue,Nicosia 1065, Tel: 357 22887766 Fax:357
22812250
Contact in Bank of Cyprus: Mr. Alecos Mountoucas
Contact in Cyprus Popular Bank: Mr Christoforos Stylianides
Account numbers are not disclosed.
|
Press
|
|
03.02.2009,www.mcit.gov.cy
EPIPHANIOU SCRAP METAL LTD in 2005 has been awarded with Cyprus Exports
Award in Manufacturing units with less than 50 employees.
|
|
03.02.2009, www.scrapmetals.com.cy
With a wide range of experience over many years in the industry, the
company trades widely in the international market both in ferrous and
non-ferrous metals. We are committedto creating and maintaining mutually
beneficial partnerships with our associates worldwide for the purpose of
continued joint success. Furthermore, with constant monitoring of the
London Metal Exchange as well as the Internet, we are able to keep our
competitive edge ensuring the best value for money.
|
|
Auditors / Accountants
|
|
Date: 2010
Company: PriceWaterHouse Coopers
|
|
Share Capital
|
|
Registered capital:
|
EUR 855,000.00 since 01.01.2008
|
|
Number of Ordinary:
|
500,000
|
|
Value per share of Ordinary:
|
EUR 1.71
|
|
|
|
Issued capital:
|
EUR 427,500.00 since 01.01.2008
|
|
Number of Ordinary:
|
250000
|
|
Value per share of Ordinary:
|
EUR 1.71
|
|
|
|
Paid-up capital:
|
EUR 427,500.00 since 01.01.2008
|
|
Charges
|
|
28.06.1983
|
Charge
|
CYP 50,000.00
|
Charge on the debit debenture
|
in f/o:Bank
of Cyprus Public Company Limited
|
|
03.03.1989
|
Fixed Charge
|
CYP 60,000.00
|
Fixed charge on the company's machinery
|
in f/o:Bank
of Cyprus Public Company Limited
|
|
10.11.2006
|
Floating Charge
|
EUR 1,500,000.00
|
Floating charge on all company's assets
|
in
f/o:Cyprus Development Bank Limited
|
|
02.02.2010
|
Mortgage
|
EUR 1,600,000.00
|
|
in f/o:Bank
of Cyprus Public Company Limited
|
|
Finance
|
|
|
2009
|
2008
|
2007
|
2006
|
|
|
PROFIT & LOSS
|
|
|
Sales Turnover
|
14837611 EUR
|
17796559 EUR
|
1926439 CYP
|
8452730 CYP
|
|
|
Cost of Sales
|
-10984152 EUR
|
-13992783 EUR
|
-7165051 CYP
|
-5833290 CYP
|
|
|
Gross Profit
|
3853459 EUR
|
3803776 EUR
|
2131388 CYP
|
2619440 CYP
|
|
|
Other Operating Income
|
|
783181 EUR
|
407475 CYP
|
501404 CYP
|
|
|
Selling / Distribution / Promotional Expenses
|
|
|
-522308 CYP
|
-526052 CYP
|
|
|
Administrative Expenses
|
-1361480 EUR
|
-1324406 EUR
|
|
|
|
|
Operational Profit
|
3199808 EUR
|
4045732 EUR
|
2016555 CYP
|
2594790 CYP
|
|
|
Finance Costs
|
|
-147136 EUR
|
-58818 CYP
|
-20087 CYP
|
|
|
Financial Income
|
708510 EUR
|
753469 EUR
|
|
|
|
|
Revenues from subsidies
|
932284 EUR
|
572244 EUR
|
|
|
|
|
Profit Before Taxation
|
3972401 EUR
|
2513459 EUR
|
1959737 CYP
|
2574723 CYP
|
|
|
Corporate Income Tax
|
-345173 EUR
|
-304229 EUR
|
-174955 CYP
|
-293360 CYP
|
|
|
Profit After Taxation
|
|
|
1784782 CYP
|
2281363 CYP
|
|
|
Net Profit
|
3627228 EUR
|
2209230 EUR
|
|
|
|
|
BALANCE SHEET
|
|
|
Property, Plant & Equipment
|
9927932 EUR
|
9260888 EUR
|
|
|
|
|
Investment in Affiliated and Associated Units
|
1175547 EUR
|
1175547 EUR
|
|
|
|
|
Investments Avaialable for Sales
|
620448 EUR
|
664153 EUR
|
|
|
|
|
Total Fixed Assets
|
11723927 EUR
|
11100588 EUR
|
|
|
|
|
Inventory / Stock
|
1214551 EUR
|
1075206 EUR
|
|
|
|
|
Trade Debtors (receivables from customer)
|
3763066 EUR
|
3184627 EUR
|
|
|
|
|
Cash in Hand & at Bank
|
4816341 EUR
|
4074365 EUR
|
|
|
|
|
Other Current Assets
|
517095 EUR
|
510239 EUR
|
|
|
|
|
Total Current Assets
|
1031053 EUR
|
8844437 EUR
|
|
|
|
|
Total Assets
|
22034980 EUR
|
19945025 EUR
|
|
|
|
|
Reserves
|
38845 EUR
|
136883 EUR
|
|
|
|
|
Other Reserves
|
-20926 EUR
|
-20926 EUR
|
|
|
|
|
Retained Profit / Earnings) for the year
|
16086716 EUR
|
13663219 EUR
|
|
|
|
|
Total Equity
|
16532135 EUR
|
14206676 EUR
|
|
|
|
|
Long - Term Loans
|
2076000 EUR
|
2565180 EUR
|
|
|
|
|
Taxation Payable
|
28533 EUR
|
50917 EUR
|
|
|
|
|
Trade Creditors
|
1915993 EUR
|
2081551 EUR
|
|
|
|
|
Short - Term Borrowings, Loans
|
1152790 EUR
|
682488 EUR
|
|
|
|
|
Taxation Due
|
329529 EUR
|
359213 EUR
|
|
|
|
|
Total Current Liabilities
|
3398312 EUR
|
5738349 EUR
|
|
|
|
|
Total Equity & Liabilities
|
5502845 EUR
|
5738349 EUR
|
|
|
|
|
SHARE CAPITAL
|
427500 EUR
|
427500 EUR
|
|
|
Please note that the financial data was obtained by the subject. Please
also note that figures for 2009 and 2008 are stated in Euro where as
figures for 2007 and before are stated in Cyprus Pounds.
|
|
Ratios
|
|
|
2009
|
2008
|
2007
|
2006
|
|
Current
ratio - 2 is an acceptable result, but even 1,8 is considered excellent
in bank practice
Current Assets / Current Liabilities
|
0.30
|
1.54
|
-
|
-
|
|
Quick ratio (QR
) - 1 is an excellent result, but anything above 0,8 is considered good
(Current Assets - Inventory) / Current Liabilities
|
0.30
|
1.54
|
-
|
-
|
|
Return on
assets ( ROA )
Net Profit After Tax / Total assets
|
0.16
|
0.11
|
-
|
-
|
|
Return on equity
( ROE )
Net Profit After Tax / Total Equity
|
0.22
|
0.16
|
-
|
-
|
|
Return on
sales ( ROS )
Net Profit x 100 / Sales Turnover
|
24.45
|
12.41
|
-
|
-
|
|
Day's supply
in inventory
Sales Turnover / Inventory
|
12.22
|
16.55
|
-
|
-
|
|
Collection Period
Ratio (in days)
Accounts Receivable x 365 / Sales Turnover
|
92.57
|
65.32
|
-
|
-
|
|
Cash
Liquidity Ratio
Liquid Assests / Current Liabilities x 100
|
141.73
|
71.00
|
-
|
-
|
|
Receivables
Ratio (%)
Accounts Receivable / Current Liabilities x 100
|
110.73
|
55.50
|
-
|
-
|
|
Current
Assets Ratio (%)
(Current Assets - Accounts Receivable) / Current Liabilities x 100
|
30.34
|
154.13
|
-
|
-
|
|
Shareholder
Equity Increase Ratio (%)
Total Equity / Share Capital x 100
|
3,867.17
|
3,323.20
|
-
|
-
|
|
GENERAL COMMENTS
|
|
The company in
question was established in 1967. It is consider to be the largest company
in Cyprus
dealing with the collection, processing, exporting and international trading
of ferrous and non-ferrous scrap metals to international specifications.
Further, they are a member of the Bureau of International Recycling (BIR).
We contacted the company in question and talked to Ms Photoula Demetriou
who confirmed the details of this report.
A check against our records revealed that no negative payment incidents
against Subject Company, such as unpaid invoices, dishonoured cheques and
utility bills, bankruptcies exist etc.
SECTOR ANALYSIS
Wholesale, Industrial, Retail & Services Sectors
The industrial sector, the wholesale and retail trade sector and the
services sector are all open to non-resident investors. For the industrial
and the wholesale and retail trade sectors, the Central Bank handles
applications where foreign participation is below 50%. Where foreign
participation exceeds 50%, or the investment is more than CyP750.000,
applications are handled jointly by the Central Bank and the Ministry of
Commerce, Industry and Tourism.
For services, up to 100% foreign participation is allowed and the Central
Bank handles the applications.
Tremetoushiotis Developers Ltd
(Ref: http://www.top-properties.com/legal-information.html
)
Retail Sector
The retail and consumer sector is developing rapidly in Cyprus as in
Central and Eastern Europe especially following the accession of Cyprus to
EU in May 2004. This development has signaled a period of uncertainty for
companies in the industry where traditional boundaries that used to define
geography, store types, trade channels, trading partners and organizations
functions are very volatile. Companies in order to be successful must be
able to respond quickly to increased competition and regulatory changes.
Consumers are becoming more demanding and able to shop around in order to
pay less. New competitors are continuously entering the market coupled with
the impact of e-commerce, smartcard schemes, and parallel importing.
Companies in the sector must rethink their earnings strategies and look to
new efficiencies to drive bottom line growth. Maintenance of margins
through balancing costs and pricing will remain a challenge in this
ever-competitive industry.
PWC
(Ref: http://www.pwc.com/extweb/industry.nsf/docid/e3fdd093df3497b88025711400448a3a)
|
|
Contact Person
|
|
Ms Photoula
Demetriou
|
Company Accouting Official
|
Tel:357 22793333
|
|
|
CYPRUS-FACTS AND FIGURES
Population: 1,084,748
Area: 9,251 SQ KM (about 33.4 percent of land is under Turkish control,
and a further 1.8 percent forms part of the buffer zone along the
cease-fire line.)
Capital: Nicosia
Currency: Euro
Currency Code: EUR
|
GDP (Purchasing Power Parity): $22.85 Billion
|
GDP - Composition by Sector:
|
|
GDP (Official Exchange Rate):$23.22 Billion
|
Agriculture: 2.1%
|
|
GDP - Real Growth Rate: -0.8%
|
Industry: 19.%
|
|
GDP - Per Capita (PPP): $21,200
|
Services: 78.9%
|
Industries:
Tourism, Food And Beverage Processing, Cement And Gypsum Production, Ship
Repair And Refurbishment, Textiles, Light Chemicals, Metal Products,
Wood, Paper, Stone, And Clay Products.
The area of the republic
of Cyprus under
government control has a market economy dominated by the service sector,
which accounts for 78% of GDP.
Tourism, financial services and real estate are the most important
sectors.
Changing growth rates over the past decade reflect the economy's reliance
on tourism.
Due to the global crisis, Cyprus
economy entered into recession in the middle of 2009. The budget deficit
reached the level of 3.5% of GDP, violating EU's budget deficit criteria
of no more than 3% of GDP.
Therefore, in order to prevent country's weakening finances, the
government intents to implement measures to cut the cost of the state
payroll, tax evasion, and amend social benefits.
Last Updated: March 2010
|
|
|
