MIRA INFORM REPORT

 

 

Report Date :           

11.03.2011

 

IDENTIFICATION DETAILS

 

Name :

BOLPAMUR SL

 

 

Registered Office :

Carretera De Alquerias, 10, 30140 Santomera  Murcia

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

21.12.1994

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of plastic and paper bags for direct and indirect establishments

 

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

 

Maximum Credit Limit :

101.000,00 €

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Spain

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

company name

 

BOLPAMUR SL

TAX NUMBER: B30435903

 

EXECUTIVE SUMMARY

 

Identification

Current Business Name           : BOLPAMUR SL

Other names                            :  YES

Current Address                       :  CARRETERA DE ALQUERIAS, 10

30140 SANTOMERA MURCIA 

Telephone number                  : 968861778 

Fax                                          : 968860421

URL                                          :  www.bolpamur.com   

Corporate e-mail                     :  info@bolpamur.com  

 

Trade Risk

 

Credit Appraisal: 101.000,00 €

Incidents:  NO

Bank and business defaults of payment - ASNEF INDUSTRIAL:  NO

 

Financial Information

Balance sheet latest sales (2009): 2.202.628,12 € (Trade Register)

Result: 91.417,25 €

Total Assets: 2.995.244,04 €

Social Capital:  33.055,67 €

Employees:  16

Listed on a Stock Exchange: NO

 

 

Commercial Information

 

Incorporation date:  21/12/1994

Activity:  Wholesale of other products

NACE 2009 CODE: 4690

International Operations: No business relationships registered

 

Corporate Structure

 

Administrator: 

 MARTINEZ LORENTE RICARDO

 

Other Complementary Information

 

Latest act published in BORME:  22/10/2010 Annual Filed Accounts

Latest press article:  26/11/2001 LA VERDAD (GENERAL INFORMATION)

Bank Entities:  There are

 

The date when this report was last updated is 03/03/2011.

 

Credit Appraisal

 

Maximum Credit

(from 0 to 6,000,000 €)

Favourable to 101.000,00 €

 

Financial Situation

Exercise:2009

Treasury

Excellent

Indebtedness

Average

Profitability

Average

Balance

Excellent

 

Performance

 

Incidents

None or Negligible

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 INDUSTRIAL

 

 

FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE

  

FINANCIAL ELEMENTS

 

Balance-sheet analysis

Figures given in €

 

31/12/2009

(12)

 

%

ASSETS

 

31/12/2008

(12)

 

%

ASSETS

 

31/12/2007

(12)

 

%

ASSETS

 

ASSETS

 

 

 

 

 

 

A) NON CURRENT ASSETS

1.267.712,94

42,32

1.405.216,48

49,65

1.585.375,76

48,40

B) CURRENT ASSETS

1.727.531,10

57,68

1.425.116,66

50,35

1.690.491,11

51,60

LIABILITIES

 

 

 

 

 

 

A) NET WORTH

1.099.979,35

36,72

1.008.562,10

35,63

880.602,31

26,88

B) NON CURRENT LIABILITIES

646.823,71

21,60

441.567,14

15,60

374.001,32

11,42

C) CURRENT LIABILITIES

1.248.440,98

41,68

1.380.203,90

48,76

2.021.263,24

61,70

 

 

 

 

 

  A) NON CURRENT ASSETS

  B) CURRENT ASSETS

 

  A) NET WORTH

  B) NON CURRENT LIABILITIES

  C) CURRENT LIABILITIES

 

 

Balance Sheet Comments

Total assets of the company  grew in 5,83%  between 2.008 and 2.009.

In spite of the assets’ growth, non current assets decreased 9,79%.

This growth has been financed, on a wider scale, with a Net Worth increase of 9,06% and in a smaller proportion with an debt increase of 4,03%.

Total assets of the company  decreased in 13,60%  between 2.007 and 2.008.

This total assets decrease has been reflected in a reduction of non current assets of 11,36%.

Assets reduction contrasts with net worth growth of 14,53%. Therefore, the company’s indebtedness has reduced in 23,94%.

 

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

2.202.628,12

 

3.275.404,41

 

3.841.990,85

 

GROSS MARGIN

868.806,41

39,44

1.123.141,87

34,29

1.162.324,29

30,25

EBITDA

232.450,35

10,55

305.315,16

9,32

385.947,87

10,05

EBIT

170.200,94

7,73

238.981,99

7,30

340.266,56

8,86

NET RESULT

91.417,25

4,15

120.867,64

3,69

197.466,96

5,14

EFFECTIVE TAX RATE (%)

25,12

0,00

26,67

0,00

28,90

0,00

 

Profit and Loss Account Comments

The company’s sales figure  decreased in 32,75% between 2.008 and 2.009.

The company’s EBIT  decreased in 28,78% 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 28,64% in the analysed period, being this profitability of 7,70% in the year 2.009.

The Net Result of the company  decreased in 24,37% 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 32,07% in the analysed period, being equal to 11,10% in the year 2.009 .

The company’s sales figure  decreased in 14,75% between 2.007 and 2.008.

The company’s EBIT  decreased in 29,77% 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 8,40% in the analysed period, being this profitability of 10,79% in the year 2.008.

The Net Result of the company  decreased in 38,79% 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 48,19% in the analysed period, being equal to 16,34% in the year 2.008 .

 

 

COMPARATIVE SECTOR ANALYSIS

 

Values table

Figures expressed in %

 

COMPANY

(2009)

 

SECTOR

DIFFERENCE

BALANCE SHEET ANALYSIS: % on the total assets

 

 

 

ASSETS

 

 

 

A) NON CURRENT ASSETS

42,32

31,54

10,79

A) CURRENT ASSETS

57,68

68,46

-10,79

LIABILITIES

 

 

 

A) NET WORTH

36,72

38,55

-1,83

B) NON CURRENT LIABILITIES

21,60

14,55

7,05

C) CURRENT LIABILITIES

41,68

46,90

-5,22

 

 

 

 

 

COMPANY

(2009)

 

SECTOR

DIFFERENCE

PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income

 

 

 

SALES

99,59

98,57

1,02

GROSS MARGIN

39,28

35,64

3,64

EBITDA

10,51

6,83

3,68

EBIT

7,70

4,93

2,77

NET RESULT

4,13

2,91

1,22

 

Sector Composition

Compared sector (NACE 2009): 469

Number of companies: 3451

Size (Sales Figure): 0 - 2,800,000.00 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 10,79% .

In liabilities composition the company appeals on a smaller scale to self financing, being the Net Worth proportion 1,83% inferior. As a consequence, external financing sources are more used by the company ( 1,83% more than the sector) .

The proportion that the sales mean to the company’s total ordinary income is 99,59% , an 1,02% higher than in the sector .

The company’s EBIT was positive and was 7,70% with regard to the total ordinary income, 2,77% 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 4,13% with regard to the total ordinary income, 1,22% 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 .

 

ADDRESSES

 

Business address

Current Legal Seat Address: 

CARRETERA DE ALQUERIAS, 10

30140 SANTOMERA  MURCIA

 

 

CORPORATE STRUCTURE

  

ADMINISTRATIVE LINKS

 

Main Board members, Directors and Auditor

POSITION

NAME AND SURNAME

APPOINTMENT DATE

ADMINISTRATOR

MARTINEZ LORENTE RICARDO

28/01/1998

ADMINISTRATOR

MARTINEZ ARACIL JUAN

28/01/1998

There are 2 board members, directors and auditors registered

 

Functional Managers

POSITION

NAME AND SURNAME

General Manager

MARTINEZ LLORENTE RICARDO

Financial Director

FERNANDEZ SALVADOR

Commercial Director

MARTINEZ ARACIL JUAN

 

 

FINANCIAL LINKS

 

Shareholders

 

BUSINESS NAME

CIF / COUNTRY

%

SOURCE

DATE REP.

 

MARTINEZ LORENTE RICARDO

 

50,00

OWN SOURCES

04/03/2010

 

MARTINEZ ARACIL JUAN

 

50,00

OWN SOURCES

04/03/2010

There are 2 direct financial links through shareholders registered

  

CREDIT INFORMATION

  

Constitution

Incorporation date: 21/12/1994

 

Activity

Activity: Wholesale of other products

NACE 2009 CODE: 4690

NACE 2009 Activity: Non-specialised wholesale trade

Business: VENTA AL POR MAYOR DE BOLSAS DE PLASTICO Y PAPEL PARA ESTABLECIMIENTOS DIRECTA E INDIRECTAMENTE

(WHOLESALE OF PLASTIC AND PAPER BAGS FOR DIRECT AND INDIRECT ESTABLISHMENTS)

Activity description: VENTA DE PRODUCTOS DE EMBALAJE (PRODUCT SALES PACKAGING)

 

Employees

Latest employees figure: 16 (2010)

% of fixed employees: 53,85%

% of temporary employees: 46,15%

 

Employees evolution

 

 

 

COMMERCIAL OPERATIONS

SALES

Credit collections: 100%

National Distribution: 25%

Regional Distribution: 75%

 

SUPPLIERS

BUSINESS NAME

INTERNATIONAL

GAMOPLAST SA

NO

PLASTICOS PALEMA SL

NO

SEALED AIR PACKAGING SA

NO

MACRESAC SA

NO

There are 4 Suppliers

 

CLIENTS

BUSINESS NAME

INTERNATIONAL

CULMAREX SA

NO

COOPERATIVA AGRICOLA SAN ISIDRO

NO

OBRASCON HUARTE LAIN SA

NO

EJIDO ZONE SL

NO

EL POZO ALIMENTACION

NO

EMUASA - AGUAS DE MURCIA SA

NO

ALUMINIOS INALUM SL

NO

ANTONIO MUΡOZ Y CIA SA

NO

There are 8 Clients

 

Banks

ENTITY

BRANCH

ADDRESS

TOWN OR CITY

PROVINCE

BANCO POPULAR ESPAΡOL, S.A.

1127

MAYOR C-V SELGAS (ED. AXIA II)

PUENTE TOCINOS

Murcia

CAJA R. CENTRAL, S.C.C.

0056

MAYOR, 72

PUENTE TOCINOS

Murcia

CAJA DE AHORROS DE MURCIA

0272

MAYOR, 14 BAJO IZQUIERDA

SISCAR

Murcia

There are 3 bank entities registered

 

Brands

Brand name: BOLPAMUR, S.L. (Valid)

Type: GRAPHICAL    Scope: COMMUNITARY    Date: 15/06/2006

There are 1 brands, signs and commercial names

 

 

LEGAL STRUCTURE

 

Constitution Data

Register Date: 21/12/1994

Register town: Murcia

Announcement number: 82353

Social Capital: 3.005,06 €

 

Current structure data

Legal form: Limited Liability Company

Social Capital: 33.055,67 €

 

 

 

Legal Aspects

Obligation to fill in Financial Statements: YES

Chamber census: YES (2009)

 

 

B.O.R.M.E.

 

(OFFICIAL COMPANIES REGISTRY GAZETTE)

 

Summary

  Acts on activity: 0

  Acts on administrators: 3 (Last: 28/01/1998, first: 15/03/1995)

  Acts on capital: 1 (Last: 14/07/1998)

  Acts on creation: 1 (Last: 15/03/1995)

  Acts on filed accounts: 15 (Last: 22/10/2010, first: 01/04/1998)

  Acts on identification: 1 (Last: 14/07/1998)

  Acts on Information: 1 (Last: 28/01/1998)

 

Latest acts in B.O.R.M.E.

Other acts

ACT

DATE

NOTICE NUM.

TRADE REGISTER

Change of registered address

14/07/1998

274319

Murcia

Capital enlargement

14/07/1998

274319

Murcia

Appointments

28/01/1998

26244

Murcia

Resignations

28/01/1998

26244

Murcia

Law 2/95 Adjustment

28/01/1998

26244

Murcia

Appointments

15/03/1995

82353

Murcia

Constitution

15/03/1995

82353

Murcia

 

Latest filed accounts

ACT

DATE

NOTICE NUM.

TRADE REGISTER

Annual Filed Accounts (2009)

22/10/2010

880649

Murcia

Annual Filed Accounts (2008)

05/05/2010

176241

Murcia

Annual Filed Accounts (2007)

16/10/2008

903319

Murcia

There are 22 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: 26/11/2001)

 

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.45.11

UK Pound

1

Rs.72.91

Euro

1

Rs.62.56

 

 

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

 

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.