MIRA INFORM REPORT
|
Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
AZELIS ESPANA SA. |
|
|
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Registered Office : |
Plaza Pau (Wtc Almeda Park Edif 8.
1ªplt), S/N 08940 Cornella De Llobregat Barcelona |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
31.07.1998 |
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Legal Form : |
Joint-stock Company |
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Line of Business : |
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 : |
1.420.000,00 € |
|
Status : |
Satisfactory |
|
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 – 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
AZELIS ESPANA SA.
TAX NUMBER: A61744033
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: AZELIS ESPANA SA.
Other names: YES
Current Address: PLAZA PAU (WTC ALMEDA PARK EDIF
8. 1ªPLT), S/N
08940 CORNELLA DE LLOBREGAT BARCELONA
Branches: 5
Telephone number: 934099070 Fax: 933392162
URL: www.impexquimica.com
Corporate e-mail: impexquimica@impexquimica.com
Trade Risk
Credit Appraisal: 1.420.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 90.252.939,00 €
(Trade Register)
Result: 1.043.330 €
Total Assets: 33.012.165 €
Social Capital: 601.000,00 €
Employees: 74
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 31/07/1998
Activity: Wholesale of industrial chemical
products
NACE 2009 CODE: 4675
International Operations: Imports and
Exports
Corporate Structure
President:
Parent Company:
Other Complementary Information
Latest act published in BORME: 25/04/2011 Resignations
Latest press article: 21/12/2007 LA GACETA (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 25/04/2011.
The information contained in this report has been investigated and
contrasted on 05/08/2010
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 1.420.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Average |
|
Profitability |
Average |
|
Balance |
Excellent |
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 |
||
|
ASSETS |
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|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
2.514.827,00 |
7,62 |
3.558.096,00 |
9,84 |
5.728.792,00 |
13,01 |
||
|
B) CURRENT ASSETS |
30.497.338,00 |
92,38 |
32.601.672,00 |
90,16 |
38.297.399,00 |
86,99 |
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LIABILITIES |
|
|
|
|
|
|
||
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A) NET WORTH |
12.561.589,00 |
38,05 |
11.518.259,00 |
31,85 |
10.595.087,00 |
24,07 |
||
|
B) NON CURRENT LIABILITIES |
1.362.591,00 |
4,13 |
1.026.914,00 |
2,84 |
5.948.231,00 |
13,51 |
||
|
C) CURRENT LIABILITIES |
19.087.985,00 |
57,82 |
23.614.595,00 |
65,31 |
27.482.873,00 |
62,42 |
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Balance Sheet Comments
Total assets of the company decreased in 8,70%
between 2.008 and 2.009.
This decrease has been greater in non current assets that reduced
in 29,32%.
Assets reduction contrasts with net worth growth
of 9,06%. Therefore, the company’s indebtedness has reduced
in 17,01%.
Total assets of the company decreased in 17,87%
between 2.007 and 2.008.
This decrease has been greater in non current assets that reduced
in 37,89%.
Assets reduction contrasts with net worth growth
of 8,71%. Therefore, the company’s indebtedness has reduced
in 26,29%.
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 |
90.252.939,00 |
|
104.651.277,00 |
|
100.869.971,00 |
|
|
GROSS MARGIN |
13.520.428,00 |
14,98 |
14.817.363,00 |
14,16 |
13.536.180,00 |
13,42 |
|
EBITDA |
1.781.749,00 |
1,97 |
2.405.981,00 |
2,30 |
2.116.982,00 |
2,10 |
|
EBIT |
1.631.131,00 |
1,81 |
2.005.209,00 |
1,92 |
1.828.798,00 |
1,81 |
|
NET RESULT |
1.043.330,00 |
1,16 |
923.172,00 |
0,88 |
932.026,00 |
0,92 |
|
EFFECTIVE TAX RATE (%) |
29,03 |
0,00 |
28,72 |
0,00 |
30,43 |
0,00 |
Profit and Loss Account Comments
The company’s sales figure decreased
in 13,76% between 2.008 and 2.009.
The company’s EBIT decreased
in 18,66% 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 12,48% in the analysed period, being this
profitability of 5,33% in the year 2.009.
The Net Result of the company grew
in 13,02% 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 4,09% in the analysed period, being equal
to 11,70% in the year 2.009 .
The company’s sales figure grew
in 3,75% between 2.007 and 2.008.
The company’s EBIT grew
in 9,65% 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 53,79% in the analysed period, being equal
to 6,09% in the year 2.008.
The Net Result of the company decreased
in 0,95% 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 11,08% in the analysed period, being equal
to 11,24% 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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|
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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|
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|
A) NON CURRENT ASSETS |
7,62 |
37,27 |
-29,66 |
|
|
|
|
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A) CURRENT ASSETS |
92,38 |
62,73 |
29,66 |
|
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LIABILITIES |
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|
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||
|
A) NET WORTH |
38,05 |
37,86 |
0,19 |
|
|
|
|
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B) NON CURRENT LIABILITIES |
4,13 |
14,71 |
-10,58 |
|
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|
|
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C) CURRENT LIABILITIES |
57,82 |
47,43 |
10,40 |
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
|
SALES |
99,52 |
98,58 |
0,95 |
|
|
|
|
|
GROSS MARGIN |
14,91 |
19,76 |
-4,85 |
|
|
|
|
|
EBITDA |
1,96 |
5,06 |
-3,09 |
|
|
|
|
|
EBIT |
1,80 |
3,93 |
-2,13 |
|
|
|
|
|
NET RESULT |
1,15 |
2,34 |
-1,19 |
|
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|
|
Sector Composition
Compared sector (NACE 2009): 4675
Number of companies: 35
Size (Sales Figure): > 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 -29,66% .
In liabilities composition the company appeals on a wider scale to self
financing, being the proportion of Net Worth of 0,19% major. As a
consequence, external financing sources are less used by the company
( 0,19% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 99,52% , an 0,95% higher than in the sector .
The company’s EBIT was positive and was 1,80% with regard to
the total ordinary income, 2,13% 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 0,04) .
The company’s net result was positive and equal to 1,15% with
regard to the total ordinary income, -1,19% 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 Account Balance |
1.043.330,00 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
1.043.330,00 |
|
Total of Amounts to be distributed |
1.043.330,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
1.043.330,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: DELOITTE S.L.
Auditing fees: 38.100,00 €
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.
company ADDRESSES
Business address
Current Legal Seat Address:
PLAZA PAU (WTC ALMEDA PARK EDIF 8. 1ªPLT), S/N
08940 CORNELLA DE LLOBREGAT BARCELONA
Previous Seat Address:
CALLE LLUÇA 28
08028 BARCELONA
Characteristics of the current
address
Type of establishment: office
Local Situation: secondary
Branches
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE JONCADELLA, 3 |
08250 |
SANT JOAN DE VILATORRADA |
Barcelona |
|
PASAJE PAU |
08940 |
CORNELLA DE LLOBREGAT |
Barcelona |
|
CALLE TORRE DE CELLERS |
08150 |
PARETS DEL VALLES |
Barcelona |
|
CALLE CARMEN MARTIN GAITE, 28 |
28342 |
VALDEMORO |
Madrid |
|
CALLE FRANCISCO ABRIL, 17 |
28007 |
MADRID |
Madrid |
There are 5 branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Main Board
members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
AGUILERA ARMENGOL FRANCISCO |
26/12/2007 |
|
|
MEMBER OF THE BOARD |
JORDS COPPYE |
26/12/2007 |
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|
MEMBER OF THE BOARD |
BARIOS BONCOMPTE ANTONIO |
26/12/2007 |
|
|
MEMBER OF THE BOARD |
LORENZO CECCARELLI |
28/07/2010 |
|
|
MEMBER OF THE BOARD |
JACOBUS PIETER VAN DEN AKKER |
28/07/2010 |
|
|
SECRETARY |
GILABERT GARCIA MARIA PILAR |
26/12/2007 |
|
|
AUDITOR |
APPOINTMENT DATE |
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|
DELOITTE SL |
22/12/2009 |
||
There are 7 board members, directors and auditors registered
Functional Managers
|
POSITION |
NAME AND SURNAME |
|
General Manager |
AGUILERA FRANCISCO |
|
Financial Director |
VARIOS ANTONIO |
|
Human Resources Director |
PERIS ANTONIO |
|
Exports Director |
ONTIBEROS FEDERICO |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
AZELIS IBERICA HOLDING SL. |
B84852474 |
100,00 |
OWN SOURCES |
05/08/2010 |
There are 1 direct financial links through shareholders
registered
CREDIT INFORMATION
Incorporation date: 31/07/1998
Establishment date: 01/01/1969
Activity: Wholesale of industrial chemical products
NACE 2009 CODE: 4675
NACE 2009 Activity: Wholesale of chemical products
Business: IMPORTACION, EXPORTACION Y COMPRAVENTA DE PRODUCTOS
QUIMICOS PARA LAS INDUSTRIAS FARMACEUTICA, COSMETICA, VETERINARIA, ALIMENTACION
Y QUIMICA EN GENERAL.
Activity description: SU ACTIVIDAD CONCRETA ES LA DISTRIBUCION DE
PRODUCTOS QUIMICOS.
Employees
Latest employees figure: 74 (2010)
% of fixed employees: 100,00%
% of men: 35,62%
% of women: 64,38%
Employees evolution
|
|
|
|
Employees
distribution
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
26 |
47 |
COMMERCIAL
OPERATIONS
PURCHASES
Import Percentage: 40%
Imports from: CEE
National Distribution: 60%
SALES
Credit collections: 100%
Export Percentage: 30%
Exports to: LATINOAMERICA Y ORIENTE MEDIO
National Distribution: 70%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
KRAMER & MARTM PHARMA |
YES |
|
KRAMER & MARTIN GMBH |
YES |
|
BROSTE A.S. |
YES |
|
AZELIS SHANGHAI, S.A. |
NO |
|
AZELIS ITALIA, S.R.L. |
YES |
|
AZELIS BENELUX NY. |
YES |
|
SEWARD CORPORATION, S.L. |
NO |
|
APSA |
NO |
|
SARRAPAMIAS S.A |
NO |
|
BIOQUIM S.A |
NO |
There are 10 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
SEWARD CO, S L |
NO |
|
AZELIS ITALIA, S.R.L. |
YES |
|
ARNAUD, S.A. |
NO |
|
ARNAUD CESKA, S.R.0 |
YES |
There are 4 Clients
Sales breakdown
•
El 19.97% de su cifra de negocio corresponde a
alimentacion.
•
El 17.10% de su cifra de negocio corresponde a
veterinaria.
•
El 21.03% de su cifra de negocio corresponde a
otros.
•
El 12.62% de su cifra de negocio corresponde a
cosmetica.
•
El 27.04% de su cifra de negocio corresponde a
farmacia.
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CAJA DE AHORROS Y PENSIONES DE BARCELONA |
|
|
BARCELONA |
|
|
BANCO DE SABADELL, S.A. |
|
|
|
|
|
BANCO POPULAR ESPAÑOL, S.A. |
|
|
|
|
There are 3 bank entities registered
Summary of bank operations
Discount facilities: 1
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 1
Bank operations
|
|
|
|
Debt type: Discount
facilities |
Granted limit:5.500.000,00 € Used limit:689.940,00 € Available limit:4.810.060,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Credit policy |
Granted limit:8.400.680,00 € Used limit:2.073.919,00
€ Available limit:6.326.761,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:500.000,00 € Source: Filed
Accounts (2009) |
|
|
|
There are 3 bank operations registered
Brands
FORMER NAMES:
•
IMPEX QUIMICA SA
Brand name: IMPEX QUIMICA, S.A. (Valid)
Type: JOINT Scope: NATIONAL Date: 01/07/1998
Brand name: IMPEX (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 16/06/2001
There are 3 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 31/07/1998
Register town: Barcelona
Announcement number: 393029
Current structure data
Legal form: Joint-stock Company
Social Capital: 601.000,00 €
Paid-up capital: 601.000,00 €
Legal Aspects
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES REGISTRY GAZETTE)
Acts on activity: 0
Acts on administrators: 45 (Last: 25/04/2011, first:
09/10/1998)
Acts on capital: 0
Acts on creation: 1 (Last: 09/10/1998)
Acts on filed accounts: 12 (Last: 21/09/2010, first:
06/10/1999)
Acts on identification: 2 (Last: 27/01/2011, first:
19/02/2008)
Acts on Information: 4 (Last: 02/01/2009, first:
09/10/1998)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Change of business name |
27/01/2011 |
34120 |
Barcelona |
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Resignations |
25/04/2011 |
177544 |
Barcelona |
|
Appointments |
27/01/2011 |
33673 |
Barcelona |
|
Appointments |
27/01/2011 |
33672 |
Barcelona |
|
Appointments |
27/01/2011 |
33671 |
Barcelona |
|
Appointments |
28/07/2010 |
295551 |
Barcelona |
|
Resignations |
28/07/2010 |
295551 |
Barcelona |
|
Appointments |
22/12/2009 |
530509 |
Barcelona |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
21/09/2010 |
607492 |
Barcelona |
|
Annual Filed Accounts (2008) |
27/08/2009 |
269632 |
Barcelona |
|
Annual Filed Accounts (2007) |
25/08/2008 |
307089 |
Barcelona |
There are 64 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 1 (Last: 21/12/2007)
Structural Data: 0
Informative data: 1 (Last: 11/06/2007)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 24/09/2004)
Latest press
article published
21/12/2007 LA GACETA - LEGAL ANNOUNCEMENTS
ESTA SDAD. HA ACORDADO EL 17/12/07 EL TRASLADO DEL DOMICILIO SOCIAL QUE
SE FIJA EN WTC ALMEDA PARK, PLAZA DE LA PAU, S/N, CORNELLA DEL LLOBREGAT
(BARCELONA).
11/06/2007 EXPANSIÓN DE CATALUÑA - GENERAL
INFORMATION
EL GRUPO IMPEX QUIMICA, PERTENECIENTE A GRUPO AZELIS, HA PREALQUILADO
1.385 METROS CUADRADOS DE OFICINAS EN LA SEGUNDA FASE DEL WTC ALMEDA PARK, EN
UNA OPERACION ASESORADA POR JONES LANG LASALLE. LA EMPRESA TRASLADARA SU SEDE A
CORNELLA DESDE EL DISTRITO DE LES CORTS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.34 |
|
UK Pound |
1 |
Rs.73.70 |
|
Euro |
1 |
Rs.65.75 |
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.