MIRA INFORM REPORT
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Report Date : |
14.06.2011 |
IDENTIFICATION DETAILS
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Name : |
EMBALAJES MULTIPLES SA |
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Registered Office : |
Calle Aire, 27, 28042 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 : |
Manufacturer of plastic materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
116.000,00 € |
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Status : |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
EMBALAJES MULTIPLES SA
TAX NUMBER: A02047843
EXECUTIVE SUMMARY
Identification
Current Business Name: EMBALAJES MULTIPLES SA
Other names: YES
Current Address: CALLE AIRE, 27
Telephone number: 913010794 Fax: 913010763
URL: www.embalajesmultiples.com
Corporate e-mail: embaples@embalajesmultiples.com
Trade Risk
Credit Appraisal: 116.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF EMPRESAS: NO
Financial Information
Balance sheet latest sales (2009): 3.746.976,11 €
(Trade Register)
Result: 182.472,92 €
Total Assets: 2.195.101,04 €
Social Capital: 62.624,20 €
Employees: 5
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 08/08/1986
Activity: Mfg. of plastic materials
NACE 2009 CODE: 2222
International Operations: It does not import nor export
Corporate Structure
President:
Other Complementary Information
Latest act published in BORME: 22/10/2010 Annual Filed Accounts
Latest press article: 13/01/2001 DIARIO 16 (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 13/06/2011.
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 116.000,00 €
Financial Situation
Exercise:2009
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Treasury |
Excellent |
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Indebtedness |
Very slight |
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Profitability |
Average |
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Balance |
Excellent |
Performance
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Incidents |
None or Negligible |
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Business
Trajectory |
Superior |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
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 €
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31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
542.871,66 |
24,73 |
583.117,98 |
21,12 |
618.159,08 |
11,26 |
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B) CURRENT ASSETS |
1.652.229,38 |
75,27 |
2.178.136,73 |
78,88 |
4.870.306,41 |
88,74 |
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LIABILITIES |
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A) NET WORTH |
1.325.346,30 |
60,38 |
1.142.873,38 |
41,39 |
1.112.347,62 |
20,27 |
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B) NON CURRENT LIABILITIES |
300.796,18 |
13,70 |
329.316,05 |
11,93 |
350.421,37 |
6,38 |
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C) CURRENT LIABILITIES |
568.958,56 |
25,92 |
1.289.065,28 |
46,68 |
4.025.696,50 |
73,35 |
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Balance Sheet
Comments
Total assets of the company decreased in 20,50%
between 2.008 and 2.009.
This total assets decrease has been reflected in a reduction of non
current assets of 6,90%.
Assets reduction contrasts with net worth growth
of 15,97%. Therefore, the company’s indebtedness has reduced
in 46,26%.
Total assets of the company decreased in 49,69%
between 2.007 and 2.008.
This total assets decrease has been reflected in a reduction of non
current assets of 5,67%.
Assets reduction contrasts with net worth growth
of 2,74%. Therefore, the company’s indebtedness has reduced
in 63,02%.
Profit and Loss
Account Analysis
Figures given in €
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|
31/12/2009 (12) |
% NET TURNOVER |
31/12/2008 (12) |
% NET TURNOVER |
31/12/2007 (12) |
% NET TURNOVER |
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SALES |
3.746.976,11 |
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7.965.793,01 |
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10.868.600,69 |
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GROSS MARGIN |
703.816,57 |
18,78 |
698.970,20 |
8,77 |
837.940,99 |
7,71 |
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EBITDA |
325.475,79 |
8,69 |
217.524,78 |
2,73 |
436.970,77 |
4,02 |
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EBIT |
286.529,47 |
7,65 |
179.014,64 |
2,25 |
392.495,44 |
3,61 |
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NET RESULT |
182.472,92 |
4,87 |
30.603,89 |
0,38 |
230.066,40 |
2,12 |
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EFFECTIVE TAX RATE (%) |
27,62 |
0,00 |
29,96 |
0,00 |
22,97 |
0,00 |
Profit and Loss
Account Comments
The company’s sales figure decreased
in 52,96% between 2.008 and 2.009.
The company’s EBIT grew
in 60,06% between 2.008 and 2.009.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is an increase of the company’s Economic
Profitability of 85,35% in the analysed period, being equal
to 14,42% in the year 2.009.
The Net Result of the company grew
in 496,24% 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 an increase of the company’s Economic
Profitability of 397,91% in the analysed period, being equal
to 19,02% in the year 2.009 .
The company’s sales figure decreased
in 26,71% between 2.007 and 2.008.
The company’s EBIT decreased
in 54,39% 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 30,60% in the analysed period, being this
profitability of 7,78% in the year 2.008.
The Net Result of the company decreased
in 86,70% 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 85,77% in the analysed period, being equal
to 3,82% 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 |
24,73 |
46,57 |
-21,84 |
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A) CURRENT ASSETS |
75,27 |
53,43 |
21,84 |
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LIABILITIES |
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A) NET WORTH |
60,38 |
44,16 |
16,22 |
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B) NON CURRENT LIABILITIES |
13,70 |
18,12 |
-4,42 |
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C) CURRENT LIABILITIES |
25,92 |
37,72 |
-11,80 |
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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 |
99,95 |
99,39 |
0,57 |
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GROSS MARGIN |
18,77 |
43,14 |
-24,37 |
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EBITDA |
8,68 |
9,33 |
-0,65 |
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EBIT |
7,64 |
4,51 |
3,14 |
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NET RESULT |
4,87 |
2,12 |
2,74 |
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Sector Composition
Compared sector (NACE 2009): 2222
Number of companies: 61
Size (Sales Figure): 2,800,000.00 - 7,000,000.00 Euros
Comments on the
sectorial comparative
Compared to its sector the assets of the companies show an
inferior proportion of non current assets. Specifically the difference with the
sector average is -21,84% .
In liabilities composition the company appeals on a wider scale to self
financing, being the proportion of Net Worth of 16,22% major. As a
consequence, external financing sources are less used by the company
( 16,22% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 99,95% , an 0,57% higher than in the sector .
The company’s EBIT was positive and was 7,64% with regard to
the total ordinary income, 3,14% superior to the one of the sector .
The company’s capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,08 in comparison
with 0,05) .
The company’s net result was positive and equal to 4,87% with
regard to the total ordinary income, 2,74% superior to the one of the
sector .
The financial results and the tax impact have had a negative impact on
the net result of the company with a worse behaviour that the one of the sector
.
OTHER DATA FROM THE ANNUAL
FINANCIAL REPORT
Results
Distribution
Source: annual financial report 2008
Figures given in €
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss |
30.603,89 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Voluntary Reserve |
30.603,89 |
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Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
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Reserves |
0,00 |
Carry over |
0,00 |
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Other concepts |
0,00 |
Other funds |
0,00 |
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Total of Amounts to be distributed |
30.603,89 |
Dividends |
0,00 |
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Other Applications |
0,00 |
company ADDRESSES
Current Legal Seat Address:
CALLE AIRE, 27
28042 MADRID
Previous Seat Address:
CALLE MISERICORDIA 18
28864 AJALVIR
MADRID
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
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Distribution of the administration board |
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Governing body : 12 members (latest change:
13/07/2007) Other Positions : 2 (latest change: 02/01/1997) Auditor : 1 (latest change: 20/01/2009) Operative Board Members : 4 (latest change: 11/01/2010) Non-current positions : 1 (latest change: 27/07/2001) |
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Main Board
members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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PRESIDENT |
RODENAS RIVERA, PEDRO |
13/07/2007 |
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MANAGING DIRECTOR |
RODENAS RIVERA, FERNANDO |
13/07/2007 |
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MANAGING DIRECTOR |
RODENAS RIVERA, FULGENCIO |
13/07/2007 |
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MANAGING DIRECTOR |
RODENAS RIVERA, MARIA DEL CARMEN |
13/07/2007 |
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MANAGING DIRECTOR |
RODENAS RIVERA, MARIA DOLORES |
13/07/2007 |
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Auditor
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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AUDITOR |
CUSPIDE AUDITORES SL |
20/01/2009 |
There are 15 board members, directors and auditors registered
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POSITION |
NAME AND SURNAME |
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Manager |
RODENAS RIVERA, PEDRO |
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Financial Manager |
RODENAS RIVERA, PEDRO |
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Commercial Director |
GARCIA MARIA, TERESA |
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Marketing Director |
GARCIA MARIA, TERESA |
FINANCIAL LINKS
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BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
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RODENAS RIVERA PEDRO |
|
20,00 |
OWN SOURCES |
11/01/2010 |
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RODENAS RIVERA MARIA DEL CARMEN |
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20,00 |
OWN SOURCES |
11/01/2010 |
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RODENAS RIVERA FULGENCIO |
|
20,00 |
OWN SOURCES |
11/01/2010 |
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RODENAS RIVERA FERNANDO |
|
20,00 |
OWN SOURCES |
11/01/2010 |
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RODENAS RIVERA MARIA DOLORES |
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20,00 |
OWN SOURCES |
11/01/2010 |
There are 5 direct financial links through shareholders
registered
BUSINESS INFORMATION
Incorporation date: 08/08/1986
Activity: Mfg. of plastic materials
NACE 2009 CODE: 2222
NACE 2009 Activity: Manufacture of plastic packing goods
Business: FABRICACION COMPRAVENTA COMERCIALIZACION Y DISTRIBUCION
DE HILADOS TEJIDOS Y SACOS DE FIBRAS DURAS, POLIPROPITENO Y ALGODON O DE
CUALQUIER OTRO PRODUCTO INDICADO INCLUYENDOSE SUS MEZCLAS Y DERIVADOS.
Latest employees figure: 5 (2010)
% of fixed employees: 100,00%
Employees
evolution
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COMMERCIAL OPERATIONS
SUPPLIERS
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BUSINESS NAME |
INTERNATIONAL |
|
RÓDENAS & RIVERA SA |
NO |
There are 1 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
RÓDENAS & RIVERA SA |
NO |
There are 1 Clients
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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BANKINTER, S.A. |
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MADRID |
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CAIXA D’ESTALVIS DE CATALUNYA,TARRAGONA I MANRESA |
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MADRID |
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CAJA DE AHORROS Y M.P. DE MADRID |
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ALBACETE |
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CAJA DE AHORROS Y PENSIONES DE BARCELONA |
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ALCOBENDAS |
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There are 4 bank entities registered
FORMER NAMES:
· TUBOSAC SA
LEGAL STRUCTURE
Constitution Data
Register Date: 08/08/1986
Legal form: Joint-stock Company
Social Capital: 62.624,20 €
Paid-up capital: 62.624,20 €
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: 02/01/1997)
Acts on administrators: 10 (Last: 20/01/2009, first:
07/10/1992)
Acts on capital: 2 (Last: 27/07/2001, first:
02/01/1997)
Acts on creation: 0
Acts on filed accounts: 21 (Last: 22/10/2010, first:
19/10/1990)
Acts on identification: 3 (Last: 27/07/2001, first:
02/01/1997)
Acts on Information: 2 (Last: 07/10/1992, first:
07/10/1992)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Re-elections |
20/01/2009 |
28975 |
Madrid |
|
Appointments |
23/01/2008 |
34371 |
Madrid |
|
Re-elections |
13/07/2007 |
374723 |
Madrid |
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Re-elections |
25/09/2002 |
387309 |
Madrid |
|
Change of registered address |
27/07/2001 |
299212 |
Madrid |
|
Capital enlargement |
27/07/2001 |
299212 |
Madrid |
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Appointments |
27/07/2001 |
299212 |
Madrid |
|
Resignations |
27/07/2001 |
299212 |
Madrid |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
22/10/2010 |
877444 |
Madrid |
|
Annual Filed Accounts (2008) |
15/01/2010 |
36435 |
Madrid |
|
Annual Filed Accounts (2007) |
06/11/2008 |
1056320 |
Madrid |
There
are 39 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: 2 (Last: 13/01/2001, first:
03/10/1996)
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 2 press articles registered for this company
Complementary
Information
Activity
Objeto Social: Fabricación y distribución de film estirable de
polietileno y otros plásticos para embalaje industrial
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.