MIRA INFORM REPORT

 

 

Report Date :           

09.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MARMOR SG S.A.  

 

 

Formerly Known As :

MARMOR KAMIN S.A

 

 

Registered Office :

18th Klm Thessaloniki-Kavala Road, 57200 Laggadas, Thessaloniki.

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

17.08.1999

 

 

Com. Reg. No.:

43607

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Manufactures cut stone and stone products

 

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 :

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)

Greece

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

 

IDENTIFICATION DETAILS

 

NAME:                          MARMOR SG S.A. 

 

TRADING STYLE:      'MARMOR SG'                                              

 

(FORMER NAME:          MARMOR KAMIN S.A.)                                       

 

ADDRESS:                     18TH KLM THESSALONIKI-KAVALA ROAD                        

                                    KAVALARI                                                 

                                    57200 LAGGADAS                                           

                                     THESSALONIKI                                             

                                    GREECE                                                    

 

TELEPHONE:                30 2310465765                                           

                                     30 2394020440                                           

                                    30 2310464970                                            

TELEFAX:                     30 2310465680                                           

E-MAIL ADDRESS:        marmor@otenet.gr                                         

WEB ADDRESS:           www.marmorsg.gr                                           

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

 

 

SENIOR COMPANY PERSONNEL

 

ATHANASIOS ANTONIADIS

Chairman

Legal representative

 

IOANNIS SAHANAS

Vice-chairman

Legal representative

 

IOANNIS ANTONIADIS

Managing director

Legal representative

 

PRINCIPALS ANTECEDENTS

NAME: ATHANASIOS ANTONIADIS

Nationality: Greek

 

NAME: IOANNIS SAHANAS

Nationality: Greek

 

NAME: IOANNIS ANTONIADIS

Nationality: Greek

 

WORKFORCE

 

EMPLOYS: 70 as at Jul 06, 2011.

 

 

TRADE PAYMENTS

 

 

Trade Payment Summary                                                         

----------------------------------                                                        

           

EXP. DATE  PAYING RECORD HIGH CREDIT NOW OWES  PAST DUE TERM     LAST SALE   

15/4/2011  SLOW15/60         2,006              2,006              2,006    30               15/1/2011

 

 

PAYMENTS

 

PUBLIC RECORD INFORMATION

 

 In 2006 1 mortgages for total value of 257500 EUR. have been reported. In 2008 1 mortgages for total value of 1030000 EUR. Have been reported.

 

 

BANKERS

 

EMPORIKI BANK OF GREECE S.A., VOTSI branch., 5, Ethn. Antistaseos St.,

KALAMARIA 55134, Greece.

PIRAEUS BANK S.A., THERMIS, THESSALONIKI branch., 1, An. Paramana sq.,

THERMI 57001, Greece.

 

 

FINANCIALS

 

FINANCES

 

                              Fiscal           Fiscal          Fiscal
                         Dec 31,2008      Dec 31,2009     Dec 31,2010
Turnover                  13,004,890       16,130,566      19,178,779
Pre-Tax Profit             1,679,269        1,941,677       1,710,160
Net Worth                  5,542,442        7,326,464       8,879,205
Fixed Assets               3,216,867        4,975,202       5,207,757
Total Assets              15,791,114       20,791,912      23,741,957
Current Assets            12,393,095       15,682,530      18,354,771
Current Liabilities        7,602,318        9,590,733       9,228,304
Working Capital            4,790,777        6,091,797       9,126,467
Long Term Debt             2,646,353        3,874,714       5,634,447
Financial Assets             181,152          134,180         179,429
 

Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets.

 

 

RATIOS

 

                         Dec 31,2008      Dec 31,2009     Dec 31,2010
 
Current Ratio (X)               1.63             1.64            1.99
Solvency Ratio (%)            284.91           283.79          267.39
Fixed Assets/Net Worth (%)     58.04            67.91           58.65
Current Liabs/Net Worth (%)   137.17           130.91          103.93
Asset Turnover (%)             82.36            77.58           80.78
Sales / Net Working Cap (X)     2.71             2.65            2.10
Assets / Sales (%)            121.42           128.90          123.79
Profit Margin (%)              12.91            12.04            8.92
S/holders Return (%)           30.30            26.50           19.26
Return On Assets (%)           10.63             9.34            7.20
 
 

Abstract from individual fiscal balance sheet as at Dec 31, 2010

 

 
             LIABILITIES                             ASSETS    
                    
Capital            3,494,419   Misc Fixed Ass               5,207,757
Share Premium      1,163,840   Total Fixed Ass              5,207,757
Legal Reserves       520,969                     
Revaltn Reserve      354,138   Investments                     90,744
Profit For Year    3,345,839   Misc Fin'cl Ass                 88,685
Net Worth          8,879,205   Total Fin'cl Ass               179,429
 
Misc Provisions      582,280                                         
Misc Def Liabs     5,052,168                                         
 
     CURRENT LIABILITIES:                         CURRENT ASSETS:    
           
Trade Creditors    1,677,766   Stock                        8,700,944
Misc Creditors     3,201,099   Trade Debtors                3,433,319
Short term Loans   2,727,768   Bad Debt Provision             352,593
Loan Instalments     531,579   Misc Debtors                 5,674,264
Taxation             714,878   Cash                           193,651
Proposed Dividends   100,000                                         
Advances Received    275,214                                         
 
TOTAL CURRENT      9,228,304   TOTAL CURRENT               18,354,771
 
TOTAL LIABS & NW  23,741,957   TOTAL ASSETS                23,741,957
 

                                Profit & Loss Account from Jan 01, 2010 to Dec 31, 2010      

 

             Net Sales                            19,178,779
             Cost of Goods Sold                   14,819,068
 
             Gross Profit                          4,359,711
             Selling/Admin Expenses                  491,875
             Misc Operating Charges                1,375,616
             Misc Operating Income                    68,904
 
             Net Operating Income                  2,561,124
             Misc Financial Income                    28,495
             Total Financial Income                   28,495
 
             Interest Payable                        563,945
             Total Financial Expenses                563,945
 
             Profit Before Taxes                   1,710,160
             Income Tax                              500,698
             Misc Tax                                143,462
 
             Profit After Tax                      1,066,000
 
             Net Profit                            1,066,000

      

 

     According to the balance sheet as of Dec 31, 2010.

    

     Financial statement obtained from outside sources on Jun 14, 2011.

 

 

LEGAL STATUS

 

BACKGROUND

Business started 1981 as a General partnership.

Business continued from Aug 17, 1999 as a Societe anonyme.

 

LEGAL FORM

Societe anonyme registered on Aug 17, 1999 in LAGGADAS for a period ending

Aug 17, 2049.

Registration Number: 43607

Government Gazette Number: 6740/08,17,1999

Tax Registration Number: 092413634

Subject's name was changed from 'MARMOR KAMIN S.A.' on Jan 08, 2010.

Subject's name was changed from 'ANTONIADIS A.-SAHANAS I. O.E.' on Aug 17,

1999.

 

Former trade style: MARMOR KAMIN S.A..

 

 

CAPITAL DETAILS

 

Nominal capital: 3,494,419 Euro.

 Issued capital: 3,494,419 Euro.

Issued/paid-up capital was last increased on Feb 22, 2011.

    

 Nominal capital is divided into:  114,948 ordinary shares of 30.40 each..

    

 

SHAREHOLDERS

 

·         SAHANAS IOANNIS EVAGGELOS holds 50.00% of the voting capital.

·         ANTONIADIS ATHANASIOS IOANNIS holds 25.00% of the voting capital.

·         ANTONIADIS IOANNIS ATHANASIOS holds 25.00% of the voting capital.

 

 

LINKED COMPANIES

 

Non Retrievable

 

 

ACTIVITIES

 

Manufactures cut stone and stone products

"Wholesales roofing, siding, and insulation materials"

Processing of marbles,granite-constructions (fireplaces etc)

          

 

IMPORTS

 

Imports from India, Cyprus, Spain, Italy, China, Syria, Mexico, Portugal

 

 

EXPORTS

 

Exports to India, Cyprus, Belgium, Germany, U S A, Ukraine, Romania,

Russian Fed, India, Cyprus

Normal exporting terms are net 90 days

Normal exporting terms are open account

 

 

PREMISES / REAL ESTATE

 

Operates from office, at heading address.

 

REGISTERED OFFICE: 18th klm Thessaloniki-Kavala Road, 57200 LAGGADAS,

THESSALONIKI.

 

 

BRANCHES

 

14th klm. Thessaloniki-Michaniona avenue, 57200, LAGGADAS, Greece. These

are showroom premises.

 

1st klm. Koropi-Markopoulo Road, 19400, KOROPI, Greece. These are office

premises.

 

 

GENERAL COMMENTS 

 

Mrs Martha confirmed general details in this report.

    

Local informants stated that:

Subject has also transactions with BANK OF CYPRUS and EFG EUROBANK.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.70.74

Euro

1

Rs.63.65

 

 

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.