MIRA INFORM
REPORT
|
Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INTERQUIM SA |
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Registered Office : |
Calle Joan Buscalla, 10, 08173 Sant Cugat |
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Country : |
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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 |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
787.000,00 € |
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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) |
|
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
TAX NUMBER: A08536476
EXECUTIVE SUMMARY
Identification
Current Business Name: INTERQUIM SA
Other names: YES
Current Address: CALLE JOAN BUSCALLA, 10
08173 SANT CUGAT DEL VALLES BARCELONA
Telephone number: 935044200 Fax: 936742954
URL: www.ferrergrupo.com
Corporate e-mail: interquim@ferrergrupo.com
Trade Risk
Credit Appraisal: 787.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 35.933.510,00 € (Trade Register)
Result: 2.163.425 €
Total Assets: 48.620.748 €
Social Capital: 833.202,00 €
Employees: 92
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 13/11/1978
Activity: Mfg. of basic pharmaceutical products
NACE 2009 CODE: 2110
International Operations: Imports and
Exports
Corporate Structure
President:
FERRER SALAT
SERRA DI MIGNI SERGIO
Parent Company:
Participations: 1
Other Complementary Information
Latest act published in BORME: 22/11/2010 Company’s mergers and
takeovers
Latest press article: 18/11/2010 CINCO
DIAS (LEGAL ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 21/12/2010.
The information contained in this report has been investigated and
contrasted on 01/02/2010
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 787.000,00 €
Rating Evolution
Financial Situation
Exercise:2009
|
Treasury |
Very good |
|
Indebtedness |
Bad |
|
Profitability |
Sufficient |
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Balance |
Very good |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Excellent |
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 INDUSTRIAL
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 |
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ASSETS |
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|
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||
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A) NON CURRENT ASSETS |
20.527.268,00 |
42,22 |
18.500.615,00 |
44,58 |
16.641.228,00 |
43,25 |
||
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B) CURRENT ASSETS |
28.093.480,00 |
57,78 |
22.998.596,00 |
55,42 |
21.834.967,00 |
56,75 |
||
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LIABILITIES |
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||
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A) NET WORTH |
25.201.514,00 |
51,83 |
24.038.089,00 |
57,92 |
25.689.893,00 |
66,77 |
||
|
B) NON CURRENT LIABILITIES |
1.190.555,00 |
2,45 |
1.491.475,00 |
3,59 |
3.859.077,00 |
10,03 |
||
|
C) CURRENT LIABILITIES |
22.228.679,00 |
45,72 |
15.969.647,00 |
38,48 |
8.927.225,00 |
23,20 |
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Balance Sheet Comments
Total assets of the company grew in 17,16%
between 2.008 and 2.009.
This growth has been inferior in the case of the non current assets that
increased just in 10,95%.
This growth has been mainly financed with a debt increase
of 34,12%. Nevertheless Net Worth grew 4,84%.
Total assets of the company grew in 7,86%
between 2.007 and 2.008.
This growth is a consequence of non current assets increase
in 11,17%.
This growth has been financed with an indebtedness increase
of 36,56. Besides, Net Worth has reduced in 6,43%, which
explains a part of the indebtedness increase.
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 |
35.933.510,00 |
|
43.113.261,00 |
|
39.342.473,00 |
|
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GROSS MARGIN |
25.674.688,00 |
71,45 |
26.879.790,00 |
62,35 |
22.949.104,00 |
58,33 |
|
EBITDA |
5.072.606,00 |
14,12 |
8.202.191,00 |
19,02 |
4.916.813,00 |
12,50 |
|
EBIT |
2.821.173,00 |
7,85 |
6.377.842,00 |
14,79 |
2.507.838,00 |
6,37 |
|
NET RESULT |
2.163.425,00 |
6,02 |
3.854.836,00 |
8,94 |
2.005.555,00 |
5,10 |
|
EFFECTIVE TAX RATE (%) |
1,26 |
0,00 |
37,22 |
0,00 |
15,74 |
0,00 |
Profit and Loss Account Comments
The company’s sales figure decreased
in 16,65% between 2.008 and 2.009.
The company’s EBIT decreased
in 55,77% 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 52,84% in the analysed period, being this
profitability of 11,04% in the year 2.009.
The Net Result of the company decreased
in 43,88% between 2.008 and 2.009.
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 65,97% in the analysed period, being equal
to 8,69% in the year 2.009 .
The company’s sales figure grew
in 9,58% between 2.007 and 2.008.
The company’s EBIT grew
in 154,32% between 2.007 and 2.008.
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 83,18% in the analysed period, being equal
to 23,41% in the year 2.008.
The Net Result of the company grew in 92,21% between 2.007 and 2.008.
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 175,51% in the analysed period, being equal
to 25,54% 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 |
42,22 |
46,64 |
-4,42 |
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A) CURRENT ASSETS |
57,78 |
53,36 |
4,42 |
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LIABILITIES |
|||
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A) NET WORTH |
51,83 |
49,80 |
2,03 |
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B) NON CURRENT LIABILITIES |
2,45 |
15,67 |
-13,22 |
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C) CURRENT LIABILITIES |
45,72 |
34,53 |
11,19 |
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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 |
99,78 |
94,05 |
5,73 |
|
GROSS MARGIN |
71,29 |
59,68 |
11,61 |
|
EBITDA |
14,09 |
16,02 |
-1,93 |
|
EBIT |
7,83 |
8,82 |
-0,98 |
|
NET RESULT |
6,01 |
5,27 |
0,73 |
Sector Composition
Compared sector (NACE 2009): 211
Number of companies: 20
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 an
inferior proportion of non current assets. Specifically the difference with the
sector average is -4,42% .
In liabilities composition the company appeals on a wider scale to self
financing, being the proportion of Net Worth of 2,03% major. As a
consequence, external financing sources are less used by the company
( 2,03% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 99,78% , an 5,73% higher than in the sector .
The company’s EBIT was positive and was 7,83% with regard to
the total ordinary income, 0,98% 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 (0,08 in comparison
with 0,09) .
The company’s net result was positive and equal to 6,01% with
regard to the total ordinary income, 0,73% superior 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 |
2.163.425,00 |
Legal Reserve |
0,00 |
|
Carry Over |
0,00 |
Voluntary Reserve |
2.163.425,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry Over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
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Total of Amounts to be distributed |
2.163.425,00 |
Dividends |
0,00 |
|
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|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: DELOITTE S.L.
Auditing exceptions:
LA MEMORIA DE LAS CUENTAS ANUALES ADJUNTAS NO REFLEJA LA INFORMACION
REQUERIDA POR LA NORMATIVA EN VIGOR EN RELACION CON LAS RETRIBUCIONES Y OTRAS
PRESTACIONES A LA ALTA DIRECCION NI LA CORRESPONDIENTE A LOS ADMINISTRADORES DE
LA SOCIEDAD POR LAS RAZONES INDICADAS EN LA NOTA 18.3 DE LA MEMORIA ADJUNTA.
Facts subsequent to the closing
Source: Annual financial report 2009
Con posterioridad al cierre no se han producido hechos de relevancia que requieran su inclusión en las cuentas anuales.
(After the close there were no significant events that require their inclusion in the annual accounts.)
ADDRESSES
Current Legal Seat Address:
CALLE JOAN BUSCALLA, 10
08173 SANT
CUGAT
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Main Board
members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
FERRER SALAT SERRA DI MIGNI SERGIO |
10/09/2008 |
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MEMBER OF THE BOARD |
GRUPO FERRER INTERNACIONAL SA |
10/09/2008 |
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MEMBER OF THE BOARD |
RAMENTOL MASSANA JORGE |
30/10/2009 |
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|
AUDITOR |
APPOINTMENT DATE |
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|
DELOITTE SL |
17/09/2010 |
||
There are 4 board members, directors and auditors registered
Functional
Managers
|
POSITION |
NAME AND SURNAME |
|
General Manager |
RAMENTOL MASSANA JORGE |
|
Financial Director |
FANES TRILLO JUAN |
|
Commercial Director |
MUNTANE LLIBERT |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GRUPO FERRER INTERNACIONAL SA |
A61738993 |
99,99 |
OWN SOURCES |
01/02/2010 |
There are 1 direct financial links through shareholders
registered
Participations
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
INVERSIONES GFISA 1199 SICAV SA. |
A62169545 |
19,06 |
TRADE REG. |
31/12/2009 |
There are 1 direct financial links through participations
registered
CREDIT INFORMATION
Incorporation date: 13/11/1978
Activity: Mfg. of basic pharmaceutical products
NACE 2009 CODE: 2110
NACE 2009 Activity: Manufacture of basic pharmaceutical products
Business: Fabricación, transformación y distribución de
especialidades farmacéuticas. Explotación de los bienes muebles e inmuebles que
integran el patrimonio de la sociedad. Gestión y asesoramiento de empresas,
prestación de servicios informáticos contables, laborales, administrativos y de
estrategia comercial e industrial. Participación en otras sociedades y tenencia
e inversión en activos financieros, obligaciones, acciones y participaciones en
otras sociedades. Compraventa, administración y negociación de toda clase de
valores.
(Production, processing and distribution of pharmaceutical products. Immovable
and movable property comprising the assets
of the company. Management
and advisory companies,
providing computerized accounting services, labor,
administrative and commercial and industrial
strategy. Shares in other companies and holding
and investing in financial
assets, bonds, stocks and shares in
other companies. Sales, administration and negotiation of all kinds of securities.)
Activity description: FABRICACION DE PRINCIPIOS ACTIVOS
FARMACEUTICOS
(Manufacture of active pharmaceutical)
Environmental information: YES (Page 64 -
65) Annual financial report 2009
Latest employees figure: 92 (2010)
% of fixed employees: 96,74%
% of temporary employees: 3,26%
% of men: 42,39%
% of women: 57,61%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
TOTAL PER CATEGORY |
MEN |
WOMEN |
|
Distribución por sexo |
|
39 |
53 |
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 93%
Imports from:
National Distribution: 7%
SALES
Export Percentage: 65%
National Distribution: 35%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
EXQUIM SA |
NO |
|
FERRER ALIMENTACION SA |
NO |
|
ZOSTER,S.A |
NO |
|
GRUPO FERRER INTERNACIONAL SA |
NO |
|
FERRER INTERNACIONAL SA |
NO |
|
LABORATORIOS ROBERT SA |
NO |
|
LABORATORIOS NOVAG SA |
NO |
|
FERRER PHARMA INTERNATIONAL SA |
NO |
There are 8 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
FERRER AZEVEDOS SA |
NO |
|
FERRER ANDROMACO SA |
NO |
|
TROMMSDORFF GMBH AND CO |
YES |
|
FERRER ALIMENTACION SA |
NO |
|
FERRER INTERNACIONAL SA |
NO |
|
PHARMA INTERNACIONAL,S.A |
NO |
|
GRUPO FERRER INTERNACIONAL,S.A |
NO |
|
FERRER PHARMA INTERNACIONAL SA |
NO |
|
ZOSTER SA |
NO |
|
LABORATORIOS ROBERT SA |
NO |
There are 13 Clients
Sales breakdown
•
El 98% de su cifra de negocio corresponde a
principios activos farmacéuticos y el resto a prestación de servicios y
residuos.
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
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BANCO ESPAÑOL DE CREDITO, S.A. |
|
|
|
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BANCO POPULAR |
|
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CAIXA D’ESTALVIS DE CATALUNYA, |
|
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CAJA DE AHORROS Y M.P. |
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|
There are 7 bank entities registered
Brands
Brand name: INTERQUIM (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 19/11/2002
Brand name: PHAMEUROPE (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 29/04/1994
Brand name: PHARMAEUROPE (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 01/01/1900
There are 5 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 13/11/1978
Legal form: Joint-stock Company
Social Capital: 833.202,00 €
Paid-up capital: 833.202,00 €
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: 23/04/1996)
· Acts on administrators: 73 (Last: 17/09/2010, first: 10/08/1990)
· Acts on capital: 2 (Last: 18/10/1996, first: 09/03/1992)
· Acts on creation: 0
· Acts on filed accounts: 19 (Last: 21/09/2010, first: 28/12/1990)
· Acts on identification: 0
· Acts on Information: 1 (Last: 05/02/1993)
· Acts on proceedings: 5 (Last: 22/11/2010, first: 17/07/1996)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Company’s mergers and takeovers |
22/11/2010 |
34375 |
|
|
Takeover merger project filing |
05/11/2010 |
993861 |
|
|
Takeover merger project filing |
04/11/2010 |
986599 |
|
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
17/09/2010 |
354153 |
|
|
Resignations |
26/04/2010 |
165481 |
|
|
Appointments |
06/04/2010 |
137129 |
|
|
Resignations |
24/02/2010 |
78528 |
|
|
Appointments |
24/12/2009 |
534933 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
21/09/2010 |
608690 |
|
|
Annual Filed Accounts (2008) |
22/12/2009 |
1044725 |
|
|
Annual Filed Accounts (2007) |
28/11/2008 |
1152569 |
|
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 1 (Last: 18/11/2010)
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 02/07/1996)
Latest press
article published
18/11/2010 CINCO DIAS (Page 6) LEGAL
ANNOUNCEMENTS
El accionista único de INTERQUIM SA (Sdad. Absorbente), el socio único
de CHEMICAL LINK GENERICS SL, e IPROA SA, el accionista único de EXIM SA y la
Junta Gral. de ZOSTER SA (Sdades. Absorbidas), aprobaron el 02/11/10 la fusión
de dichas cías.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.64.21 |
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.