MIRA INFORM
REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
WEG EQUIPAMENTOS ELETRICOS SA |
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|
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Registered Office : |
Avenida Prefeito Waldemar Grubba,3300 1°. Andar - Vila Lalau , Zip Code 89256-900 - Jaraguá Do Sul/Sc |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.10.2004 |
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Legal Form : |
Privately Held Corporation |
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Line of Business : |
Manufacture of Electric Motors, Generators and Transformers |
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 |
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Maximum Credit Limit : |
USD 5.000.000,00 |
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Status : |
Satisfactory |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Brazil |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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 |
Company name
WEG EQUIPAMENTOS
ELETRICOS S/A
Company ADDRESSES
|
MAIN ADDRESS: |
AVENIDA PREFEITO WALDEMAR GRUBBA,3300 1°. ANDAR - VILA LALAU |
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ZIP CODE/CITY: |
89256-900 - JARAGUÁ DO SUL/SC |
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PHONE: |
47 3276-4000/4712 |
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FAX: |
47 3276-4000/4712 |
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E-MAIL: |
contabilidade1@weg.net |
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WEB SITE: |
www.weg.net |
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BRANCHES: |
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ADDRESS: |
RUA DR. PEDRO ZIMMERMANN,6751 - ITOUPAVA CENTRAL |
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ZIP CODE/CITY: |
89068-001 BLUMENAU/SC |
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PHONE: |
47 3276-4000 |
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FAX: |
47 3337-1090 |
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CNPJ: |
07.175.725/0014-84 |
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STATE REGISTER: |
255.085.672 |
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|
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ADDRESS: |
AVENIDA PREFEITO WALDEMAR GRUBBA,3000 - VILA LALAU |
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ZIP CODE/CITY: |
89256-900 JARAGUÁ DO SUL/SC |
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PHONE: |
47 3276-4000 |
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FAX: |
47 3276-4040 |
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CNPJ: |
07.175.725/0010-50 |
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STATE REGISTER: |
255.083.939 |
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|
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ADDRESS: |
RODOVIA RS,20 KM 6,5 - NEOPOLIS |
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ZIP CODE/CITY: |
GRAVATAI/RS |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF ELECTRIC MOTORS, GENERATORS AND TRANSFORMERS |
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LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
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INCORPORATION DATE: |
04/10/2004 |
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REGISTER DATE: |
04/10/2004 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
07.175.725/0001-60 |
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STATE REGISTER: |
EXEMPT |
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|
|
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SHARE CAPITAL: |
R$
1.268.780.238,00 |
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LAST REGISTER OF CAPITAL: |
31/12/2009 |
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BOARD OF
DIRECTORS: |
|
|
|
|
|
HARY SCHMELZER JUNIOR |
PRESIDENT DIRECTOR |
|
SÉRGIO LUIZ SILVA SCHWARTZ |
VICE-PRESIDENT DIRECTOR |
|
ANTONIO CÉSAR DA SILVA |
DIRECTOR |
|
ALFREDO ANGELO MORETTI |
DIRECTOR |
|
LUIS ANGELO NORONHA DE FIGUEIREDO |
DIRECTOR |
|
HÉLCIO MAKOTO MORIKOSSI |
DIRECTOR |
|
WILSON JOSE WSTZTO |
DIRECTOR |
|
SIEGFRIED KREUTZFELD |
DIRECTOR |
|
ROBERTO BAUER |
DIRECTOR |
|
CARLOS DIETHER PRINZ |
DIRECTOR |
|
LAURENCE BELTRAO GOMES |
DIRECTOR |
|
ALDO FELIPE MANKE |
DIRECTOR |
|
UMBERTO GOBBATO |
DIRECTOR |
|
REINALDO STUART JUNIOR |
DIRECTOR |
|
NEWTON MASSAO IDEMORI |
DIRECTOR |
AUTHORIZED USE OF SIGNATURE
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
WEG S/A |
99,95% |
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WEG PARTICIPAÇŐES E SERVIÇOS S/A |
0,05% |
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AFFILIATES /
SUBSIDIARIES: |
|
|
|
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WEG INDUSTRIAS S.A. |
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WEG EXPORTADORA S.A. |
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WEG EQUIPAMIENTOS ELECTRICOS S.A. (ARGENTINA) |
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WEG GERMANY GMBH |
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WEG AUSTRALIA PTY. LTD. |
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WEG EUROPE S.A. (BÉLGICA) |
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WEG CHILE |
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WEG NANTONG ELETRIC MOTORS (CHINA) |
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WEG COLOMBIA |
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WEG IBERIA (ESPANHA) |
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WEG INDIA |
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WEG ELECTRIC MOTORS CORP. (EUA) |
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WEG FRANCE |
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WEG ELECTRIC MOTORS (U.K.) LTD |
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WEG ITALIA S.R.L. |
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WEG MEXICO, S.A. DE C.V. |
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WEG EURO INDUSTRIA ELECTRICA S.A. |
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WEG JAPAN CO., LTD. |
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WEG SCANDINAVIA AB (SUECIA) |
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WEG INDUSTRIAS VENEZUELA, C.A. |
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HIDRÁULICA INDUSTRIAL S/A INDUSTRIA E COMERCIO |
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WEG AMAZONIA S/A |
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SENSORES ELETRONICOS INSTRUTECH LTDA. |
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LOGOTECH SENSORES ELETRONICOS INDUSTRIA |
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WEG LINHARES EQUIPAMENTOS ELETRONICOS LTDA |
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CONSORCIO AREVA T&D/SUCESSO/WEG |
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CONSORCIO CAMARGO CORREA, WEG E SENIOR |
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LANCHONETE SANTOS REIS LTDA. |
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AUTO POSTO BUCAREIN LTDA |
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ROJEES ADMINISTRAÇĂO E PARTICIPAÇĂO LTDA |
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URBIS EMPREENDIMENTOS LTDA. |
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CAPITULO JOINVILLE AMORC |
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COMPANY'S BACKGROUND
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THE SUBJECT WAS ESTABLISHED ON APRIL 10, 2004 AS WEG MAQUINAS SĂO
BERNARDO LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. IN NOVEMBER 2005
THE COMPANY ADOPTED THE ABOVE-MENTIONED NAME AND CONCOMITANTLY ITS
HEADQUARTERS WAS RELOCATED FORM THE CITY OF SĂO BERNARDO DO CAMPO TO THE
ADDRESS AT THE CAPTION. ON JANUARY 02, 2006 THE COMPANY WEG INDUSTRIAS THROUGH GENERAL MEETING
THE PARTIAL SPLITTING OF THE UNITIES RESPONSIBLE FOR INDUSTRIAL OPERATION OF
ELECTRIC/ELECTRONIC EQUIPMENTS FROM ITS NET EQUITY. ALSO AT THIS SAME DATE THE SUBJECT THROUGH GENERAL MEETING TO MERGE
INTO ITS NET EQUITY THE SPLIT PART FROM WEG INDUSTRIAS, REPRESENTED BY ASSETS
AND LIABILITIES OF THE UNITIES WEG MOTORES, WEG MÁQUINAS, WEG
TRANSFORMADORES, WEG ACIONAMENTOS E WEG AUTOMAÇĂO. "WEG MOTOR" IS ONE OF THE SUBJECT'S DIVISIONS. ABOUT THE WEG GROUP: THIS WAS WEG'S GREATEST ASSET IN 1961 WHEN WERNER RICARDO VOIGT, EGGON
JOĂO DA SILVA AND GERALDO WERNINGHAUS STARTED TO PRODUCE ELECTRIC MOTORS IN
JARAGUÁ DO SUL. AT THAT TIME, TO PRODUCE ELECTRIC MOTORS IN A SMALL TOWN IN THE
SOUTHERN STATE OF SANTA CATARINA LOOKED LIKE AN IDEA WITHOUT MAJOR PURPOSES.
THE FIRST YEARS WERE MARKED BY HARD WORK IN ORDER TO TURN WEG'S NAME KNOWN
ALONG WITH OFFERING RELIABLE QUALITY PRODUCTS. IN SPITE OF THAT, SIGNIFICANT GROWTH WAS QUICKLY NOTICED. WEG MOTOR
PRODUCTION JUMPED FROM 146 PIECES IN 1961 TO 4085 PIECES IN THE FOLLOWING
YEAR. DEDICATED INITIALLY TO PRODUCTION OF ELECTRIC MOTORS, THE COMPANY
STARTED EXPANDING ITS ACTIVITIES IN THE 80'S WITH THE PRODUCTION OF
GENERATORS, ELECTRICAL COMPONENTS, INDUSTRIAL AUTOMATION PRODUCTS, POWER AND
DISTRIBUTION TRANSFORMERS, LIQUID AND POWDER PAINTS AND ELECTROINSULATING
VARNISHES. TODAY WEG BECAME THE LARGEST LATIN AMERICAN ELECTRIC MOTORS
MANUFACTURER AND IS PRESENT IN OVER 100 COUNTRIES IN THE FIVE CONTINENTS.
ADDITIONALLY, THE COMPANY COUNTS ON STATE-OF-THE-ART MANUFACTURING PROCESSES
ASSOCIATED WITH THE MOST DEMANDING TOTAL QUALITY PROGRAMS. MOSTLY IMPORTANT,
THE COMPANY TODAY HAS THE SAME ASSET PHILOSOPHY AS IN 1961, WHICH IS BASED ON
WORK AND DISCIPLINE, MULTIPLIED BY EACH OF ITS EMPLOYEES COMMITTED TO
ULTIMATE CUSTOMER SATISFACTION. IN 2009 THE SUBJECT TOOK OVER TRAFO EQUIPAMENTOS ELETRICOS S/A, WEG
ITAJAÍ EQUIPAMENTOS ELÉTRICOS LTDA CNPJ 09.109.119/0001-71, AND WEG AUTOMAÇĂO
S/A CNPJ 08.520.338/0001-86, WEG EXPORTADORA SA CNPJ 04.719.045/0001-71. FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING
FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO
COMPLETE THIS REPORT. A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE
DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE
SENT TO YOUR ATTENTION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
|
PUBLIC RECORDS
INFORMATION: |
|
10 PROTESTS,TOTAL AMOUNT R$
22.548,55 |
|
DATE OF FIRST PROTEST:
09/2011 R$ 85,64 |
|
DATE OF HIGHEST PROTEST:
02/2011 R$ 6.539,37 |
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DETAILS OF LATEST PROTESTS: |
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NOTARY OFFICE: |
DATE: |
VALUE: |
|
2şCARTÓRIO DE BLUMENAU/SC |
05/2011 |
R$ 1.038,86 |
|
CARTÓRIO DE JARAGUÁ DO SUL/SC |
05/2011 |
R$ 1.991,16 |
|
1şCARTÓRIO DE GRAVATAI/RS |
05/2011 |
R$ 700,00 |
|
CARTÓRIO DE JARAGUÁ DO SUL/SC |
05/2011 |
R$ 1.991,16 |
|
CARTÓRIO DE JARAGUÁ DO SUL/SC |
05/2011 |
R$ 1.200,00 |
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LAWSUITS: |
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|
|
|
DATE: |
COURT OF LAW: |
|
1 |
MUNICIPAL LAWSUIT |
13/08/10 |
VARA DE SERTAOZINHO/SP |
FINANCIAL INFORMATION
|
GENERAL BALANCE SHEETS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
|
|
|
|
CASH AND BANKS |
28.130 |
2.952 |
1.426.177 |
|
INVESTMENTS |
1.591.140 |
1.871.363 |
|
|
CLIENTS |
717.296 |
702.833 |
675.258 |
|
INVENTORY |
560.623 |
481.357 |
548.480 |
|
DIVIDENDS RECEIVABLES |
3.705 |
921 |
23.074 |
|
RECOVERABLE TAXES |
49.725 |
51.515 |
54.884 |
|
OTHER CREDITS |
74.323 |
21.109 |
78.387 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
3.024.942 |
3.132.050 |
2.806.260 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INTERCOMPANY CREDITS |
19.578 |
3.114 |
85.153 |
|
JUDICIAL DEPOSITS |
7.897 |
5.050 |
2.252 |
|
DEFERRED TAXES |
57.190 |
74.790 |
34.916 |
|
RECOVERABLE TAXES |
25.676 |
43.523 |
43.260 |
|
OTHER CREDITS |
1.811 |
11.603 |
1.667 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
112.152 |
138.080 |
167.248 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
704.933 |
514.625 |
284.433 |
|
FIXED ASSETS |
1.647.592 |
1.684.506 |
641.062 |
|
INTANGIBLE |
106.969 |
122.271 |
110.012 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
2.459.494 |
2.321.402 |
1.035.507 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
5.596.588 |
5.591.532 |
4.009.015 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
|
|
|
|
SUPPLIERS |
139.350 |
149.705 |
182.494 |
|
LOANS AND FINANCING |
752.564 |
723.560 |
996.119 |
|
TRIBUTARY OBLIGATIONS |
132.646 |
85.828 |
78.627 |
|
INCOME TAX/SOCIAL CONTRIBUTION |
36.410 |
46.818 |
|
|
DIVIDENDS |
51.500 |
51.076 |
78.694 |
|
ADVANCE FROM CLIENTS |
195.210 |
215.901 |
325.047 |
|
PROFIT SHARING |
14.671 |
47.624 |
32.605 |
|
OTHER DEBTS |
60.892 |
66.374 |
25.965 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1.383.243 |
1.386.886 |
1.719.551 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
1.271.087 |
870.213 |
665.628 |
|
TRIBUTARY OBLIGATIONS |
47.319 |
44.072 |
25.999 |
|
RELATED COMPANIES |
417 |
23 |
53.955 |
|
PROVISION FOR CONTINGENCIES |
90.784 |
68.703 |
49.645 |
|
DEFERRED TAXES |
317.249 |
314.163 |
120 |
|
OTHER |
12.998 |
14.402 |
7.006 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
1.739.854 |
1.311.576 |
802.353 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
1.268.780 |
1.268.780 |
816.867 |
|
CAPITAL RESERVES |
567 |
567 |
567 |
|
OTHER COMPREHENSIVE INCOME |
539.191 |
619.345 |
|
|
DIVIDENDS |
100.000 |
200.000 |
|
|
PROFIT RESERVES |
564.953 |
804.378 |
669.677 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
2.473.491 |
2.893.070 |
1.487.111 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
5.596.588 |
5.591.532 |
4.009.015 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
|
|
|
|
|
NET SALES |
3.463.440 |
2.992.561 |
3.084.520 |
|
(-) COST OF SOLD GOODS |
2.499.723 |
2.108.960 |
2.115.015 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
963.717 |
883.601 |
969.505 |
|
OPERATING REVENUE (EXPENSE) |
-456.830 |
-322.516 |
-366.941 |
|
FINANCIAL REVENUE(EXPENSE) |
99.224 |
127.999 |
-63.361 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
606.111 |
689.084 |
539.203 |
|
NON-OPERATING RESULT |
|
|
3.634 |
|
CONTRIBUTION/INCOME TAX |
-135.815 |
-149.415 |
-134.773 |
|
PROFIT SHARING |
-3.250 |
-3.097 |
-4.983 |
|
INTERESTS ON OWN CAPITAL |
|
|
66.944 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
467.046 |
536.572 |
470.025 |
|
RATIOS: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
QUICK RATIO |
1,78 |
|
1,91 |
|
1,31 |
|
|
CURRENT RATIO |
2,19 |
|
2,26 |
|
1,63 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4,83 |
TIMES |
4,26 |
TIMES |
4,57 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
74,56 |
DAYS |
84,55 |
DAYS |
78,81 |
DAYS |
|
INVENTORY TURNOVER |
4,46 |
TIMES |
4,38 |
TIMES |
3,86 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
20,07 |
DAYS |
25,55 |
DAYS |
31,06 |
DAYS |
|
RETURN ON ASSETS |
,62 |
TIMES |
,54 |
TIMES |
,77 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,40 |
TIMES |
1,03 |
TIMES |
2,07 |
TIMES |
|
NET WORTH TIE-UP |
,67 |
|
,58 |
|
,43 |
|
|
INDEBTEDNESS |
1,26 |
|
,93 |
|
1,70 |
|
|
EQUITY RATIO |
44,20 |
% |
51,74 |
% |
37,09 |
% |
|
WORKING CAPITAL RATIO |
118,68 |
% |
125,83 |
% |
63,20 |
% |
|
GENERAL SOLVENCY |
1,79 |
|
2,07 |
|
1,59 |
|
|
RETURN ON NET EQUITY |
18,88 |
% |
18,55 |
% |
31,61 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
13,49 |
% |
17,93 |
% |
15,24 |
% |
|
GROSS PROFIT MARGIN |
27,83 |
% |
29,53 |
% |
31,43 |
% |
|
OPERATIONAL RESULT |
17,50 |
% |
23,03 |
% |
17,48 |
% |
|
SALES TURNOVER ON LIABILITIES |
2,50 |
TIMES |
2,16 |
TIMES |
1,79 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 1,58 |
- OFFICIAL RATE ON 06/06/2011 |
|
US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
|
US$ 1,00 = R$ 1,74 |
- OFFICIAL RATE ON 31/12/2009 |
|
US$ 1,00 = R$ 2,33 |
- OFFICIAL RATE ON 31/12/2008 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW GOOD FINANCIAL STANDING. DESPITE THE HIGH
LEVEL OF INDEBTEDNESS IT SHOWS GOOD LIQUIDITY RATIOS WITH HIGH WORKING
CAPITAL AMOUNT. IN ADDITION IT SHOWS SALES RECOVER AND MADE HIGH PROFIT
AGAIN. IT IS WORTH COMMENTING THAT THE CONCERN HAS HUGE FINANCIAL POWER AND
IS NOT LIKELY TO FACE FINANCIAL PROBLEMS AT ALL. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 272.429.913,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 709.898,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 412.049.110,00
INSURANCE
|
INSURANCE COMPANY: |
ITAÚ XL SEGUROS S/A |
|
COVERAGE: |
WINDSTORM, VEHICLES, ELECTRIC DAMAGES AND OTHERS |
|
EXPIRATION: |
NOT AVAILABLE |
|
VALUE: |
R$ 1.699.420.880,83 |
BANKING REFERENCES
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO BRADESCO S/A |
2727-8 |
JOINVILLE/SC |
|
HSBC BANK BRASIL S.A. |
0645 |
CURITIBA/PR |
|
BANCO ITAÚ S/A |
0862 |
CURITIBA/PR |
|
BANCO SANTANDER S/A |
2271 |
PORTO ALEGRE/RS |
|
BANCO ITAU S/A |
0453 |
CURITIBA/PR |
|
BANCO DO BRASIL S/A |
3125-9 |
JOINVILLE/SC |
|
BANCO VOTORANTIM S/A |
0001-9 |
CURITIBA/PR |
|
REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
ACTIVITIES COMMENTS
|
PRODUCTION, INDUSTRIALIZATION, SALE, RENDERING OF SERVICES, RESEARCH,
DEVELOPMENT, EXPORT, IMPORT, REPRESENTATION, RENTING OF ELECTRIC MOTORS,
ELECTRIC MACHINES, INDUSTRIAL ELECTRIC COMPONENTS, PROCESSES SYSTEMS,
MANUFACTURING AUTOMATION, SPEED VARIATION SYSTEMS, SWITCHBOARDS, POWER AND
DISTRIBUTION TRANSFORMERS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
CHINA. KOREA, GERMANY, JAPAN AND UNITED STATES. |
EXPORTS TO:
|
SOUTH AFRICA, CANADA, INDIA, PERU AND SAUDI ARABIA. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
CITY: |
|
|
ELECTROLUX DO BRASIL S.A. |
SĂO PAULO/SP |
|
|
FRANKLIN ELECTRIC IN |
JOINVILLE/SC |
|
|
IMBIL IND. E MANUT BO |
ITAPIRA/SP |
|
|
KSB BOMBAS HIDRÁULICAS S.A. |
VÁRZEA PAULISTA/SP |
|
|
STEMAC S/A GRUPOS GE |
PORTO ALEGRE/RS |
|
|
SULZER BRASIL S/A |
JUNDIAÍ/SP |
|
|
WHIRLPOOL S/A |
RIO CLARO/SP |
|
|
FOREIGN CLIENTS: |
COUNTRY: |
|
|
BUSINESS TRIBUNE EST |
SAUDI ARABIA |
|
|
GOLD RESERVE INC |
CANADA |
|
|
HIDROSTAL S/A |
PERU |
|
|
J. T. BLAKEMORE |
SOUTH AFRICA |
|
|
KIRLOSKAR BROTHERS LIMITED |
INDIA |
|
|
V. J. PAMENSKY |
CANADA |
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 15540 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A NEW BUT WELL-ESTABLISHED SUBSIDIARY OF THE WEG GROUP,
WHICH IS ONE OF THE BRAZIL'S LARGEST INDUSTRIAL GROUPS. SO FAR IT HAS A CLEAR
TRADE HISTORY AND VERY GOOD PAYMENT BEHAVIOUR. THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE
DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET
PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE
COMPANY’S TRADE REPUTATION. THE PROTESTS FOUND ARE CONSIDERED IRRELEVANT. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
CITY: |
PHONE: |
|
AÇOS ESPECIAIS ITABIRA - ACESITA |
TIMÓTEO/MG |
31 3235-4287 |
|
BOMBAS LEĂO S/A |
|
17 3361-1101 |
|
BUNGE ALIM S/A |
|
|
|
CARAÍBA METAIS S.A. |
DIAS D ÁVILA/BA |
|
|
CHS COOLERS AND HEATERS SYSTEM IND. COM. LTDA |
|
11 4043-0122 |
|
CIA. SIDERÚRGICA NACIONAL - CSN |
VOLTA REDONDA/RJ |
|
|
CIA. SIDERÚRGICA PAULISTA - COSIPA |
CUBATĂO/SP |
|
|
FORTE 3 IND. COM. PLASTICOS LTDA |
|
54 3027-3245 |
|
MARISOL IND VEST LTDA |
|
|
|
NSK DO BRASIL |
SUZANO/SP |
|
|
PAFER COML LTDA |
|
|
|
PARANAPANEMA S/A |
DIAS D AVILA/BA |
|
|
TRENDBANK PROMOTORA NEGOCIOS LTDA |
|
|
|
USINAS SID. M. GERAIS S.A.- |
IPATINGA/MG |
|
|
YOKOGAWA AMERICA DO SUL LTDA |
|
|
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
|
|
BAOSTEEL |
CHINA |
|
|
BAOTEEL |
CHINA |
|
|
DUPONT |
UNITED STATES |
|
|
NKS |
JAPAN |
|
|
NSK |
JAPAN |
|
|
NTN |
JAPAN |
|
|
POSCO |
KOREA |
|
|
SCHULER PRESSEN |
GERMANY |
|
|
SKF FRANCE |
FRANCE |
|
|
SKF GMBH |
GERMANY |
|
|
PAYMENT HISTORY: |
|
84 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 25.490.949,00 |
|
|
|
AMOUNT OF INVOICES PAID: 4446 |
|
TOTAL OF PROMPT PAYMENTS: 97,8% |
|
TOTAL OF DELAYED PAYMENTS: 2,2% |
|
|
|
HIGHEST INVOICE: R$ 123.516,00 |
|
HIGHEST CREDIT: R$ 1.081.119,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 60 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
16 |
195 |
R$ 1.640.250,39 |
|
DUE WITHIN 60 DAYS |
5 |
19 |
R$ 320.345,17 |
FINAL OPINION
|
THE SUBJECT IS A NEW BUT WELL-ESTABLISHED SUBSIDIARY OF THE WEG GROUP
IN BUSINESS SINCE 2004 AND ALREADY SHOWING HIGH SCALE OF ACTIVITIES. UP TO
DATE IT HAS A NORMAL FINANCIAL STANDING, CLEAR TRADE HISTORY AND VERY GOOD
PAYMENT BEHAVIOUR. BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH. DUE TO THE SUBJECT'S HUGE FINANCIAL POWER A MAXIMUM CREDIT WILL NOT BE
FIXED. THE COMPANY IS CONSIDERED FULLY CREDITWORTHY FOR HIGH AMOUNTS OF
CREDIT. AN INITIAL CREDIT LIMIT OF USD 5.000.000,00 MAY BE CONSIDERED. |
|
|
|
|
|
|
|
|
|
BALANCE SHEET ANALYSIS |
FIGURES ARE IN THOUSANDS
OF REAIS |
|
|
|
|
|
|
|
31-12-10 |
|
31-12-09 |
|
31-12-08 |
|
|
ASSETS |
|
% |
|
% |
|
% |
|
Current Assets |
54.05 |
$ 3,132,050 |
56.01 |
$
2,806,260 |
70.00 |
|
|
Fixed Assets |
$ 2,459,494 |
43.95 |
$ 2,321,402 |
41.52 |
$
1,035,507 |
25.83 |
|
TOTAL ASSETS |
$ 5,596,588 |
100.00 |
$ 5,591,532 |
100.00 |
$
4,009,015 |
100.00 |
|
LIABILITIES |
|
|
|
|
|
|
|
Current Liabilities |
$ 1,383,243 |
24.72 |
$ 1,386,886 |
24.80 |
$
1,719,551 |
42.89 |
|
Long-Term Liabilities |
$ 1,739,854 |
31.09 |
$ 1,311,576 |
23.46 |
$
802,353 |
20.01 |
|
TOTAL LIABILITIES |
$ 3,123,097 |
55.80 |
$ 2,698,462 |
48.26 |
$
2,521,904 |
62.91 |
|
Deferred Income |
$ - |
0.00 |
$ - |
0.00 |
$ - |
0.00 |
|
Net Equity |
$ 2,473,491 |
44.20 |
$ 2,893,070 |
51.74 |
$
1,487,111 |
37.09 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 5,596,588 |
100.00 |
$ 5,591,532 |
100.00 |
$
4,009,015 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
|
|
|
Net Sales |
$ 3,463,440 |
100.00 |
$ 2,992,561 |
100.00 |
$
3,084,520 |
100.00 |
|
Costs |
$ 2,499,723 |
72.17 |
$ 2,108,960 |
70.47 |
$
2,115,015 |
68.57 |
|
Gross Profit |
$ 963,717 |
27.83 |
$ 883,601 |
29.53 |
$
969,505 |
31.43 |
|
Operating expenses |
$ (456,830) |
-13.19 |
$ (322,516) |
-10.78 |
$
(366,941) |
-11.90 |
|
operational Result |
$ 606,111 |
17.50 |
$ 689,084 |
23.03 |
$
539,203 |
17.48 |
|
Net Profit (loss) |
$ 467,046 |
13.49 |
$ 536,572 |
17.93 |
$
470,025 |
15.24 |
|
COMPLEMENTARY DATA |
|
|
|
|
|
|
|
Inventory |
$ 560,623 |
|
$ 481,357 |
|
$
548,480 |
|
|
Accounts receivable |
$ 717,296 |
|
$ 702,833 |
|
$
675,258 |
|
|
Accounts Payable |
$ 139,350 |
|
$ 149,705 |
|
$ 182,494 |
|
|
Property, plant and equipment |
$ 1,647,592 |
|
$ 1,684,506 |
|
$
641,062 |
|
|
Purchases |
$ 2,459,494 |
|
$ 2,321,402 |
|
$
1,035,507 |
|
|
Financial Expenses |
$ 99,224 |
|
$ 127,999 |
|
$ (63,361) |
|
|
Foreign Currency Assets |
|
|
|
|
|
|
|
Foreign Currency Liabilities |
|
|
|
|
|
|
|
Working Capital |
$ 1,641,699 |
|
$ 1,745,164 |
|
$
1,086,709 |
|
|
RATIOS: |
|
|
|
|
|
|
|
QUICK RATIO |
1.78 |
|
1.91 |
|
1.31 |
|
|
CURRENT RATIO |
2.19 |
|
2.26 |
|
1.63 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4.83 |
times |
4.26 |
times |
4.57 |
times |
|
DAYS' SALES IN RECEIVABLES |
74.56 |
days |
84.55 |
days |
78.81 |
days |
|
INVENTORY TURNOVER |
4.46 |
times |
4.38 |
times |
3.86 |
times |
|
20.07 |
days |
25.55 |
days |
31.06 |
days |
|
|
RETURN ON ASSETS |
0.62 |
times |
0.54 |
times |
0.77 |
times |
|
SALES TURNOVER ON NET EQUIY |
1.40 |
times |
1.03 |
times |
2.07 |
times |
|
NET WORTH TIE-UP |
0.67 |
|
0.58 |
|
0.43 |
|
|
ENDEBTEDNESS |
1.26 |
|
0.93 |
|
1.70 |
|
|
EQUITY RATIO |
44.20 |
% |
51.74 |
% |
37.09 |
% |
|
WORKING CAPITAL RATIO |
118.68 |
% |
125.83 |
% |
63.20 |
% |
|
GENERAL SOLVENCY |
1.79 |
|
2.07 |
|
1.59 |
|
|
RETURN ON NET EQUITY |
18.88 |
% |
18.55 |
% |
31.61 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
13.49 |
% |
17.93 |
% |
15.24 |
% |
|
GROSS PROFIT MARGIN |
27.83 |
% |
29.53 |
% |
31.43 |
% |
|
OPERATIONAL RESULT |
17.50 |
% |
23.03 |
% |
17.48 |
% |
|
SALES TURNOVER ON LIABILITIES |
2.50 |
times |
2.16 |
times |
1.79 |
times |
|
FOREIGN CURRENCY ON ASSETS |
- |
% |
- |
% |
- |
% |
|
FOREIGN CURRENCY ON LIABILITIES |
- |
% |
- |
% |
- |
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.74 |
|
UK Pound |
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
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.