MIRA INFORM
REPORT
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Report Date : |
14.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
COMERCIAL FAMA SA |
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Registered Office : |
Avenida De La Industria, 76, 28970 Humanes De
Madrid Madrid |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
248.000,00 € |
|
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) |
|
Spain |
a2 |
a2 |
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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 |
Company name
COMERCIAL FAMA SA
TAX NUMBER: A78618758
EXECUTIVE SUMMARY
Identification
Current Business Name: COMERCIAL FAMA SA
Other names: YES
Current Address: AVENIDA DE LA INDUSTRIA, 76
28970 HUMANES DE MADRID MADRID
Branches: 2
Telephone number: 916094114 Fax: 916094583
URL: www.comercialfama.es
Corporate e-mail: comercial@comercialfama.es
Trade Risk
Credit Appraisal: 248.000,00 €
Incidents: YES
Bank and business defaults of payment - ASNEF EMPRESAS: NO
Financial Information
Balance sheet latest sales (2009): 8.588.661,79 €
(Trade Register)
Result: 128.988,76 €
Total Assets: 7.777.220,09 €
Social Capital: 126.210,00 €
Employees: 28
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 30/12/1987
Activity: Wholesale of other products
NACE 2009 CODE: 4669
International Operations: Imports
Corporate Structure
President:
Other Complementary Information
Latest act published in BORME: 15/02/2011 Appointments
Latest press article: 08/10/2004 EXPANSIÓN (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 02/06/2011.
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 248.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Very good |
|
Indebtedness |
Average |
|
Profitability |
Average |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business Trajectory |
Superior |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: 3 ( Last:01/06/2010 , first:
21/04/2010 )
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With the Social Security: |
3 |
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With the Tax Authorities: |
0 |
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With Other Official bodies: |
0 |
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AFFECTED BY: No significant element.
Latest
Administrative Claims
Figures expressed in €
WITH THE SOCIAL SECURITY.
There are 3 administrative claims with the Social Security
registered
Executive
|
DATE |
ORGANIZATION |
AMOUNT |
|
01/06/2010 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
450,00 |
|
01/06/2010 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
450,00 |
Notifications
|
DATE |
ORGANIZATION |
AMOUNT |
|
21/04/2010 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
450,00 |
BANK AND BUSINESS DEFAULTS OF PAYMENT - ASNEF EMPRESAS
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 |
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|
|
|
|
|
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A) NON CURRENT ASSETS |
2.109.852,75 |
27,13 |
1.663.711,41 |
25,22 |
1.687.719,83 |
21,19 |
|
B) CURRENT ASSETS |
5.667.367,34 |
72,87 |
4.932.197,49 |
74,78 |
6.275.234,32 |
78,81 |
|
LIABILITIES |
|
|
|
|
|
|
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A) NET WORTH |
2.076.647,99 |
26,70 |
1.947.659,23 |
29,53 |
1.749.493,64 |
21,97 |
|
B) NON CURRENT LIABILITIES |
1.225.892,69 |
15,76 |
686.989,96 |
10,42 |
873.470,19 |
10,97 |
|
C) CURRENT LIABILITIES |
4.474.679,41 |
57,54 |
3.961.259,71 |
60,06 |
5.339.990,33 |
67,06 |
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Balance Sheet
Comments
Total assets of the company grew in 17,91%
between 2.008 and 2.009.
This growth is a consequence of non current assets increase
in 26,82%.
This growth has been mainly financed with a debt increase
of 22,64%. Nevertheless Net Worth grew 6,62%.
Total assets of the company decreased in 17,17%
between 2.007 and 2.008.
This total assets decrease has been reflected in a reduction of non
current assets of 1,42%.
Assets reduction contrasts with net worth growth
of 11,33%. Therefore, the company’s indebtedness has reduced
in 25,19%.
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 |
8.588.661,79 |
|
10.336.069,13 |
|
10.527.415,09 |
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|
GROSS MARGIN |
1.680.641,78 |
19,57 |
1.825.246,07 |
17,66 |
2.002.102,49 |
19,02 |
|
EBITDA |
402.960,91 |
4,69 |
402.554,61 |
3,89 |
503.183,78 |
4,78 |
|
EBIT |
214.542,02 |
2,50 |
234.214,99 |
2,27 |
364.582,52 |
3,46 |
|
NET RESULT |
128.988,76 |
1,50 |
125.593,22 |
1,22 |
251.509,88 |
2,39 |
|
EFFECTIVE TAX RATE (%) |
30,00 |
0,00 |
30,00 |
0,00 |
28,29 |
0,00 |
Profit and Loss
Account Comments
The company’s sales figure decreased
in 16,91% between 2.008 and 2.009.
The company’s EBIT decreased
in 8,40% between 2.008 and 2.009.
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 19,36% in the analysed period, being this
profitability of 4,54% in the year 2.009.
The Net Result of the company grew
in 2,70% 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 a reduction of the company’s economic
profitability of 3,69% in the analysed period, being equal
to 8,87% in the year 2.009 .
The company’s sales figure decreased
in 1,82% between 2.007 and 2.008.
The company’s EBIT decreased
in 35,76% 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 11,76% in the analysed period, being this
profitability of 5,63% in the year 2.008.
The Net Result of the company decreased
in 50,06% between 2.007 and 2.008.
The company’s Financial Profitability has been negatively 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 54,41% in the analysed period, being equal
to 9,21% in the year 2.008 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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A) NON CURRENT ASSETS |
27,13 |
18,55 |
8,57 |
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A) CURRENT ASSETS |
72,87 |
81,45 |
-8,57 |
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LIABILITIES |
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A) NET WORTH |
26,70 |
39,69 |
-12,99 |
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B) NON CURRENT LIABILITIES |
15,76 |
6,51 |
9,26 |
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C) CURRENT LIABILITIES |
57,54 |
53,80 |
3,73 |
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
99,03 |
98,89 |
0,14 |
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GROSS MARGIN |
19,38 |
29,02 |
-9,64 |
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EBITDA |
4,65 |
8,73 |
-4,08 |
|
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|
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EBIT |
2,47 |
7,00 |
-4,53 |
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NET RESULT |
1,49 |
4,69 |
-3,20 |
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Sector Composition
Compared sector (NACE 2009): 4669
Number of companies: 370
Size (Sales Figure): 7,000,000.00 - 40,000,000.00 Euros
Comments on the
sectorial comparative
Compared to its sector the assets of the companies show a greater
proportion of non current assets. Specifically the difference with the sector
average is 8,57% .
In liabilities composition the company appeals on a smaller scale to
self financing, being the Net Worth proportion 12,99% inferior. As a
consequence, external financing sources are more used by the company
( 12,99% more than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 99,03% , an 0,14% higher than in the sector .
The company’s EBIT was positive and was 2,47% with regard to
the total ordinary income, 4,53% 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 (0,02 in comparison
with 0,07) .
The company’s net result was positive and equal to 1,49% with
regard to the total ordinary income, -3,20% 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 |
128.988,76 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
128.988,76 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
128.988,76 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: LASTRAS REY FELIX GONZALO
Auditing exceptions:
LA SOCIEDAD TIENE ABIERTOS A REVISION POR LAS AUTORIDADES FISCALES LOS
CUATRO ULTIMOS EJERCICIOS DE LOS PRINCIPALES IMPUESTOS QUE LE SON APLICABLES.
DADAS LAS DIFERENTES POSIBLES INTERPRETACIONES DE LA LEGISLACION FISCAL
VIGENTE, PODRIAN SURGIR PASIVOS ADICIONALES, LOS CUALES NO SON SUSCEPTIBLES DE
CUANTIFICACION OBJETIVA.
Auditing fees: 7.100,00 €
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.
ADDRESSES
Current Legal Seat Address:
AVENIDA DE LA INDUSTRIA, 76
28970 HUMANES DE MADRID MADRID
Previous Seat Address:
POLIGONO INDUSTRIAL LA MORA (7 Y 8) 6
28950 MORALEJA
DE ENMEDIO MADRID
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CARRETERA FUENLABRADA |
28950 |
MORALEJA DE ENMEDIO |
Madrid |
|
CALLE ESCOBALEJO, 85 |
37713 |
VALDEHIJADEROS |
Salamanca |
There are 2 branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
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Distribution of the administration board |
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Governing body : 7 members (latest change:
14/01/2009) Other Positions : 1 (latest change: 12/07/2010) Auditor : 1 (latest change: 15/02/2011) Operative Board Members : 5 (latest change: 06/04/2009) Non-current positions : 6 (latest change: 15/02/2011) |
|
|
Main Board
members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
FABA DELGADO, ADOLFO |
14/01/2009 |
|
MANAGING DIRECTOR |
MARTIN NUNEZ, TERESA |
14/01/2009 |
|
MEMBER OF THE BOARD |
FABA MARTIN, ADOLFO |
14/01/2009 |
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Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
M V AUDITORES SL |
15/02/2011 |
There are 9 board members, directors and auditors registered
Board members remuneration
Source: Annual
financial report 2009
Board
members remuneration: 0,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
FABA DELGADO, ADOLFO |
|
Financial Manager |
FABA MARTIN, ADOLFO |
|
Human Resources Director |
AVILA JOSE, ENRIQUE |
|
Commercial Director |
FABA MARTIN, TERESA |
|
Marketing Director |
FABA MARTIN, TERESA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MARTIN NUNEZ TERESA |
|
33,33 |
OWN SOURCES |
28/01/2010 |
|
|
FABA MARTIN ADOLFO |
|
33,33 |
OWN SOURCES |
28/01/2010 |
|
|
FABA DELGADO ADOLFO |
|
33,33 |
OWN SOURCES |
28/01/2010 |
There are 3 direct financial links through shareholders
registered
BUSINESS INFORMATION
Incorporation date: 30/12/1987
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity: Wholesale of other products
NACE 2009 CODE: 4669
NACE 2009 Activity: Wholesale of other machinery and equipment
Business: LA VENTA MAYOR DE OBJETOS DE ESCRITORIO EN GENERAL CITAS
ADHESIVAS Y AISLANTES, PRECINTOS DE P.V.C Y P.P Y CUALESQUIERA ARTICULOS DE SU
GAMA, ASI COMO EL TIMBRADO E IMPRESION DE TEXTOS EN LOS MISMOS POR CUALQUIER
SISTEM.
Latest employees figure: 28 (2010)
% of fixed employees: 92,00%
% of temporary employees: 8,00%
% of men: 66,67%
% of women: 33,33%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
18 |
9 |
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 33%
Imports from: UE Y RESTO DEL MUNDO
National Distribution: 67%
SALES
Cash collections: 30%
Credit collections: 70%
•
El 100% de su cifra de negocios corresponde a la actividad
principal.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CAJA DE AHORROS Y M.P. DE MADRID |
2284 |
SIMON HERNANDEZ, 42 |
MOSTOLES |
Madrid |
|
CAJA DE AHORROS Y M.P. DE MADRID |
|
|
HUMANES DE MADRID |
|
|
BANCO SANTANDER, S.A. |
|
|
MOSTOLES |
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CAJA DE AHORROS Y PENSIONES DE BARCELONA |
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There are 4 bank entities registered
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
|
|
|
6.001,00 |
11.503,00 |
There are 1 leasing operations registered
Brand name: COMFAM (Valid)
Type: JOINT Scope: NATIONAL Date: 01/02/2003
There are 1 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 30/12/1987
Legal form: Joint-stock Company
Social Capital: 126.210,00 €
Paid-up capital: 126.210,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES
REGISTRY GAZETTE)
Acts on activity: 1 (Last: 05/10/1992)
Acts on administrators: 13 (Last: 15/02/2011, first:
05/10/1992)
Acts on capital: 3 (Last: 04/10/1999, first:
05/10/1992)
Acts on creation: 0
Acts on filed accounts: 21 (Last: 23/09/2010, first:
01/10/1990)
Acts on identification: 2 (Last: 12/04/2007, first:
05/10/1992)
Acts on Information: 3 (Last: 17/03/1997, first:
05/10/1992)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
15/02/2011 |
68365 |
Madrid |
|
Resignations |
15/02/2011 |
68365 |
Madrid |
|
Appointments |
12/07/2010 |
274404 |
Madrid |
|
Resignations |
12/07/2010 |
274403 |
Madrid |
|
Appointments |
16/06/2009 |
270778 |
Madrid |
|
Re-elections |
14/01/2009 |
19451 |
Madrid |
|
Change of registered address |
12/04/2007 |
208837 |
Madrid |
|
Re-elections |
08/01/2004 |
11358 |
Madrid |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
23/09/2010 |
657270 |
Madrid |
|
Annual Filed Accounts (2008) |
09/10/2009 |
630321 |
Madrid |
|
Annual Filed Accounts (2007) |
01/09/2008 |
371864 |
Madrid |
There are 43 acts registered
PRESS ARTICLES
Press summary by type
of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 08/10/2004)
Latest press
article published
No press articles about this company have been loaded in the last 5
years, if you wish you can check the historical press releases (news with more
than 5 years)
There are 1 press articles registered for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.87 |
|
UK Pound |
1 |
Rs.72.83 |
|
Euro |
1 |
Rs.64.37 |
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.