MIRA INFORM REPORT

 

 

Report Date :           

17.11.2011

 

IDENTIFICATION DETAILS

 

Name :

COCA-COLA AMATIL (AUST) PTY LTD

 

 

Registered Office :

Level 14, 40 Mount Street, North Sydney, New South Wales, Zip/postal code 2060

 

 

Country :

Australia

 

 

Financials (as on) :

01.07.2011

 

 

Date of Incorporation :

29.11.1996

 

 

Com. Reg. No.:

076594119

 

 

Legal Form :

Australian Proprietary Company

 

 

Line of Business :

Manufacturing, distribution and marketing of carbonated soft drinks.

 

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 :

USD 9,000,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

----

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Australia

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 Bottom of Form

Identification details  Bottom of Form

 

 

Verified Address

Subject name                :           COCA-COLA AMATIL (AUST) PTY LTD

Business address          :           Level 14, 40 Mount Street

Town                             :           North Sydney

Province                        :           New South Wales

Zip/postal code              :           2060

Country                         :           Australia

Tel                                :           +61 2 92596222

Fax                               :           +61 2 94368715

Website                        :           www.ccamatil.com 

 

Registered address      :           Level 14, 40 Mount Street

Town                             :           North Sydney

Province                        :           New South Wales

Zip/postal code              :           2060

Country                                                           :                       Australia

 

 

Summary details

 

Executive Summary

Date founded or registered          :   29/11/1996

Legal form                                 :   Australian Proprietary Company

Chief executive                          :   Warwick Graham White

Issued & paid up capital             :   AUD 508,026,071

Sales turnover                            :   AUD 4,609,400,000 (Group-consolidated 12 months, 31/12/2010)

Net income                                :   AUD 497,300,000 (Group-consolidated 12 months, 31/12/2010)

Total fixed assets                       :   AUD 5,277,800,000 (Group-consolidated 12 months, 31/12/2010)

Line of business             :   Manufacturing, distribution and marketing of carbonated soft drinks.

Staff employed                           :   15,666 (Amatil Group)

 

 

Credit risk opinion

 

Company Analysis

Country risk                               :   Country risk is minimal

Operation trend                          :   Operational trend is steady

Management experience :   Management is adequately experienced

Financial performance                :   Group financial performance is good

Organization structure                :   Organizational structure is stable

Detrimental                    :   No detrimental records found

Payment history                                    :   No payment delays noted

Credit amount suggestion           :   USD 9,000,000

Credit amount asked                  :   USD 9,000,000

Comments                                           :   Larger credit can still be considered. The Subject is well positioned in

                                                            the market and the financial stability of the group is positive.

 

 

Statutory details

 

Registry Data

Registration date            :   29/11/1996

Legal form                     :   Australian Proprietary Company

Registration no              :  Australian Company Number: 076594119

Registered authority       :   Australian Securities & Investments Commission

Fiscal/ Tax no                :   Australian

Business Number          : 68076594119

Registry status              :   Live/Active

Previous name               :   None reported.

Change of legal form       :   None reported.

 

 

Management / directors

 

Key Management

 

Name                :           Warwick Graham White

Designation       :           Managing Director

 

Name                :           Nessa Ita O'Sullivan

Designation       :           Chief Financial Officer

 

Name    :                       Terry James Davis

Designation       :           Director

 

 

Board of directors / other appointments

 

Appointments

 

Name                           :      Patrick Joseph Malloy

 

Designation                   :      Director

 

Appointment date          :      28/07/00

 

Address                        :      11 Hastings Road

Warrawee, NSW 2074

Australia

 

Biography                     :      Born on 21-07-1952 in Sydney, New South Wales, Australia.

 

 

Name                           :      Warwick Graham White

 

Designation                   :      Director

 

Appointment date          :      13/11/02

 

Address                        :      19 Billyard Avenue

Wahroonga, NSW 2076

Australia

 

Biography                     :      Born on 08-04-1961 in Melbourne, Victoria, Australia.

 

Mr. Warwick G. White has been Managing Director - Australasia of Coca Cola Amatil Ltd since November 2002. He has 29 years in the Coca-Cola System and rejoined Coca-Cola Amatil in November 2002 as the Managing Director for the CCA Australian beverages business. Prior to that, he held marketing and general management roles within the Coca-Cola System. Immediately prior to joining CCA, he was Regional Director for Coca-Cola Hellenic Bottling Company with responsibility for Ireland, Poland, Hungary, Czech Republic and Slovakia. This was preceded by 13 years in Great Britain, Europe and Ireland in progressively more senior roles within the Coca-Cola System.

 

 

Name                            :           Alec Wagstaff

Designation                   :           Director

Appointment date           :           07/07/05

Address                        :           31 Osborne Road

Manly, NSW 2095

Australia

Biography                      :           Born on 17-05-1958 in United Kingdom.

 

Name                            :           Bruce Alexander Herbert

Designation                   :           Director

Appointment date           :           02/06/06

Address                        :           47 Glenhope Road

West Pennant Hills, NSW 2125

Australia

Biography                      :           Born on 10-10-1960 in Brisbane, Queensland, Australia.

 

Name                            :           Nessa Ita O'Sullivan

Designation                   :           Director

Appointment date           :           07/07/05

 

Address                        :           24 Kirkoswald Avenue

Mosman, NSW 2088

Australia

 

Biography                      :           Born on 29-11-1964 in Ireland.

 

Ms. Nessa O'Sullivan has been Group Chief Financial Officer of Coca-Cola Amatil Ltd since September 1, 2010. She joined CCA in May 2005 as CFO for the Australian Beverage business. Prior to joining CCA, she held the role of CFO and VP for the Australia/New Zealand region of Yum! Restaurants International. She spent 12 years with Yum! in senior roles in Finance, Strategic Planning and IT. She holds dual Irish and Australian citizenship and has worked in Europe, the United States and Australia. Nessa has been CCA's Chief Financial Officer – Operations since April 2008 and assumed the role of CCA's Group Chief Financial Officer from September 1, 2010. She is Fellow of the Institute of Chartered Accountants in Ireland and a graduate of University College Dublin.

 

 

Name                         :      Terry James Davis Designation                :      Director Appointment date                                 :      20/11/01

Address                     :      353 Edinburgh Road

Castlecrag, NSW 2068

Australia

 

Biography                   :      Born on 13-11-1957 in Orange, New South Wales, Australia.

Mr. Terry James Davis is Group Managing Director and Executive Director of Coca-Cola Amatil Ltd. He joined the Company in November 2001 as Group Managing Director after 14 years in the global wine industry with most recent appointment as Managing Director of Beringer Blass (the wine division of Foster's Group Ltd). He is also Director of Seven Group Holdings Limited and  as Director of St. George Bank Limited until December 2008. He acts as Council Member of the University of New South Wales Council.

 

 

Name                            :           George Thomas Forster

Designation                   :           Company Secretary

Appointment date           :           14/02/07

Address                        :           50 Murray Street

Pyrmont, NSW 2009

Australia

 

Biography          :           Born on 17-04-1954 in Budapest, Hungary.

Mr. George T. Forster has been General Counsel and Company Secretary of Coca Cola Amatil Ltd since February 14, 2007. Mr. Forster joined CCA in April 2005 as General Counsel. Mr. Forster holds Bachelor of Laws and Bachelor of Commerce degrees from The University of New South Wales and has experience of over 30 years as a corporate and commercial lawyer, including having been a partner of Freehills in Sydney.

 

 

Name                            :           Margot Christine Maasakkers

Designation                   :           Company Secretary

Appointment date           :           31/03/08

Address                        :           15 Jane Street

Balmain, NSW 2041

Australia

 

Biography                      :           Born on 29-04-1948 in Sydney, New South Wales, Australia.

Staff employed               :           15,666 (Amatil Group)

 

Key Advisors

Auditors                       :      ERNST & YOUNG

321 Kent Street

Sydney, NSW 2000

Australia

 

 

Share capital

 

Composition

Authorized Capital                                 :   AUD 508,026,071

No of shares                                         :   508,026,071 Ordinary Shares

Share par value                                     :   AUD 1

Issued capital                                       :   AUD 508,026,071

Paid up capital                                                                                              :   AUD 508,026,071

 

 

 

ownership / shareholders

 

How listed                                :   Full List

 

Composition

Shareholder name          :   COCA-COLA AMATIL LIMITED

Address                        :   Level 14, 40 Mount Street

North Sydney, NSW 2060

Australia

 

No. of shares                 :   508,026,071 Ordinary Shares

% of shares                            :   100%

 

Related companies & corporate Affiliations

 

Structure

Name                            :   COCA-COLA AMATIL LIMITED

Affiliation type                :   Parent Company

Address                        :   Level 14, 40 Mount Street

North Sydney, NSW 2060

Australia

 

Comments                                            :   Coca-Cola Amatil Limited, together with its subsidiaries, engages in the manufacture, distribution, and marketing of carbonated soft drinks, sports and energy drinks, still and mineral waters, flavoured milk, fruit juices, coffee, and other alcohol-free beverages. The company also involves in processing and marketing fruit, vegetables, and other food products, as well as manufactures and/or distributes premium beer and spirits. It operates primarily in Australia, New Zealand, Fiji, Indonesia, and Papua New Guinea. The company was formerly known as Amatil Limited and changed its name to Coca-Cola Amatil Limited in1989. Coca-Cola Amatil Limited was founded in 1904 and is based in North

Sydney, Australia.

 

Name                                                    :   APAND PTY LTD

Affiliation type                                        :   Wholly-owned Subsidiary

Address                                                :   Level 14, 40 Mount Street

North Sydney, NSW 2060

Australia

 

Name                                        BAYMAR PTY LTD

Affiliation type                            Wholly-owned Subsidiary

Address                                    Level 14, 40 Mount Street

North Sydney, NSW 2060

Australia

 

Name                                        BEVERAGE BOTTLERS (NQ) PTY LTD

Affiliation type                            Wholly-owned Subsidiary

Address                                    Ingham Road

Townsville, QLD 4810

Australia

 

Name                                        BEVERAGE BOTTLERS (QLD) LTD

Affiliation type                            Wholly-owned Subsidiary

Address                                    Australia

 

 

Name                            :   CAN RECYCLING (S.A.) PTY LTD

Affiliation type                :   Wholly-owned Subsidiary

Address                        :   16A Duncan Court

Ottoway, SA 5031

Australia

 

 

Name                            :   COCA-COLA AMATIL (HOLDINGS) PTY LIMITED

Affiliation type                :   Wholly-owned Subsidiary

Address                        :   Level 15, 71 Macquarie Street

Sydney, NSW 2000

Australia

 

Name                            :   CRUSTA FRUIT JUICES PROPRIETARY LIMITED

Affiliation type                :   Wholly-owned Subsidiary

Address                        :   17 Duncan Road

Dry Creek, SA 5094

Australia

 

Name                            :   QUIRKS AUSTRALIA PTY LTD

Affiliation type                :   Wholly-owned Subsidiary

Address                        :   198 Power Street

Glendenning, NSW 2761

Australia

 

Name                            :   QUENCHY CRUSTA SALES PTY. LTD.

Affiliation type                :   Wholly-owned Subsidiary

Address                        :   17 Duncan Road

Dry Creek, SA 5094

Australia

 

 

 

Related companies and corporate affiliations comments:

Other companies of the Coca-Cola Amatil Limited should be considered affiliates of the Subject.

 

 

Bank & mortgages

 

Bank Details

Name of bank    :   Citibank Australia

Address            :   Australia

Account details  :   Current Account

 

Comments                                            :   It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

 

 

Mortgages          :   None reported.

 

Legal Fillings

Bankruptcy fillings          :   None reported.

Court judgements           :   None reported.

Tax liens                       :   None reported.

Others                          :   None reported.

 

 

financial data

 

Description

 

Source of financial statement                 :   Public Record Sources

 

Financial statement date                        :   31/12/10

 

Type of accounts                                   :   Full audited

 

Currency                                              :   Australia Dollar (AUD)

 

Exchange rate                                      :   1 USD = AUD as of 0.97 as of 15-11-2011

 

 

Summarized Financial Information

Consolidation type                                                                                        :   Group Consolidated             Group Consolidated            Group Consolidated Currency                                                                                                                       :   Australia Dollar (AUD)          Australia Dollar (AUD)         Australia Dollar (AUD) Denomination                                                                                                :   (x1) One                             (x1) One                            (x1) One

Date of financial year end                                                                             :   01/07/11                             31/12/10                            31/12/09

 

Length of accounts                                                                                       :   6 months                            12 months                         12 months

 

Sale turnover / Income                                                                                  :   2,253,300,000                     4,609,400,000                    4,560,000,000

 

Operating profit                                                                                            :   273,700,000                        844,900,000                       787,300,000

 

Profit before tax                                                                                             :   210,600,000                        710,500,000                       653,400,000

 

Net income                                                                                                    :   153,600,000                        497,300,000                       449,000,000

 

Non current assets                                                                                       :   3,363,100,000                     3,290,900,000                    3,090,900,000

 

Current assets                                                                                              :   1,785,900,000                     1,986,900,000                    2,479,900,000

 

Inventories                                            :   709,500,000                                                            735,300,000                                                             753,900,000

 

Total assets                                       :

5,149,000,000

5,277,800,000

5,570,800,000

Current liabilities                                 :

1,116,500,000

1,202,100,000

1,822,100,000

Non current liabilities                           :

2,253,800,000

2,242,300,000

2,148,600,000

Total liabilities                                    :

3,370,300,000

3,444,400,000

3,970,700,000

Share equity                                       :

1,778,700,000

1,833,400,000

1,600,100,000

Reserve                                             :

-59,400,000

-39,800,000

-38,300,000

Retained earning                                 :

-347,300,000

-289,100,000

-444,600,000

 

Comments        :   The group’s consolidated financial information above relates to the Subject’s Parent Company

Coca-Cola Amatil Limited and all its subsidiaries which include the Subject

 

 

Operation details

 

Main activities                                       :   The Subject engages in manufacturing, marketing, sales and distribution of carbonated soft drinks, bottled water, fruit juices and sports & energy drinks.

 

The Subject is part of Coca-Cola Amatil Limited (CCA) which manufactures, distributes and markets carbonated soft drinks, still and mineral waters, fruit juices, coffee and other alcohol-free beverages. The Company is also engaged in the processing and marketing of fruit, vegetables and other food products and the manufacture and/or distribution of beer brands and the spirit portfolio of global distributor Beam Global Spirits & Wines, by Pacific Beverages Pty Ltd: a joint venture entity between CCA and SABMiller plc. CCA’s principal operations are in Australia, New Zealand, Fiji, Indonesia and Papua New Guinea (PNG).

 

The Subject bottles and distributes these beverage brands in its territories under licence from The Coca-Cola Company.

 

 

Product & services                                 Carbonated drinks Bottled water Sports drinks

Juice

Energy Drink

Flavoured milk

 

Brand                                                   Coca-Cola, Diet Coca-Cola, Sprite, Deep Spring, Kirks, Coke Zero, Fanta, Powerade, Glacéau and Pump

 

Purchases

International                                          :   Asia, United States

 

Sales

Local                                                    :   Yes

International                                          :   Pacific Island

 

Key events                                           :   October 11, 2011

 

Coca-Cola Amatil investment to revolutionize manufacturing for Australasia

 

 Coca-Cola Amatil Australasia (CCAA) has invested A$35 Million in new

“blowfill” technology at its Thebarton production facility in Adelaide,

enabling the company to design and manufacture its own bottles using less raw materials.

 

CCAA’s Managing Director, Warwick White, described the new technology as the single largest capital investment in the company’s history, adding that it will fundamentally change the nature of manufacturing in the business.

 

He said, “The introduction of this technology has enabled us to redesign

 

and lightweight our entire small carbonated soft drink and water bottle range. With innovation comes benefits which, in this case, are good for CCA, our customers and the communities we operate in. They include significant cost savings, production efficiency gains, increased product shelf life and stacking ability.”

 

At a Group level, CCAA says it is committed to spending approximately A$450 Million to install “blowfill” technology at all of the Company’s production facilities in Australia, New Zealand, Indonesia, Papua New Guinea and Fiji.

 

Mr White said that “blowfill” technology is capable of meeting the environmental goals set by CCA in both energy and water savings and is expected to reduce the carbon footprint of the company’s beverage containers by over 20%. He said a significant portion of these savings will come from bottle redesigns that use less PET resin, with others from the elimination of the need to transport empty bottles to CCA bottling facilities, and energy savings on the line.

 

“This investment continues our lightweighting journey – a journey which has already seen CCA achieve a 20% increase in packaging raw material efficiency since 2004,” Mr White said.

 

CCAA’s Thebarton facility produces the full CCA range of beverages including brands under licence from The Coca-Cola Company (including Coca-Cola, Coca-Cola Zero, diet Coke, Sprite, Fanta, Powerade Isotonic), along with Coca-Cola Amatil-owned brands. The Thebarton facility currently produces approximately 110 million PET bottles a year.

20 June 2011

Coca-Cola Amatil Limited Amends SABMiller plc JV, Paves Way For

Foster's Group Limited Bid-DJ

 

Dow Jones reported that Coca-Cola Amatil Limited and SABMiller plc are amending the terms of their joint venture (JV) amid a bid for the South African listed brewer to bid for Foster's Group Limited. Coca-Cola Amatil said in a statement its arrangement surrounding its existing joint venture, Pacific Beverages, limit SAB Miller's ability to buy shares in Foster's in its own right. Under the changes to the JV, if SAB Miller makes an offer for Foster's within five years and acquires at least 50.01% of the company, SAB Miller is entitled to acquire Coca-Cola Amatil's interest in Pacific Beverages and Coca-Cola Amatil will have the right to take over parts of Foster's business.

 

 

Property & Assets

Premises                                              :   The Subject operates from head office located at the verified heading

address consisting of administrative office.

 

Branches                                              :   The Subject has production facilities throughout Australia. One of the

Subject main facilities are located at:

 

33-43 Port Road

Thebarton SA 5031

Australia

 

 

Summarized country risk

 

0Central bank                                        :   Reserve Bank of Australia

Reserve of foreign exchange & gold         :   US$ 41.385 billion

Gross domestic product – GDP               :   US$ 1.235 trillion

 

GPP (Purchasing power parity)               :   918.529 billion of International dollars

 

GDP per capita - current prices               :   US$ 55,590

 

GDP - composition by sector                  :   agriculture: 4.1% industry: 26% services: 70%

 

Inflation :                                               2008: 4.4%

2009: 1.8%

2010: 2.8%

 

Unemployment rate                                2008: 4.2 %

2009: 5.6 %

2007:5.2  %

Public debt

(General Government gross

debt as a % GDP)                                  2008:  11.6%

2009:  17.6%

2010:    22.3 %

 

Government bond ratings                        Standard & Poor's: AAA-/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

 

Market value of publicly traded shares      US$ 1.258 trillion

 

Largest companies in the country         :   Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)

 

Trade & Competitiveness Overview

 

Total exports                                         US$210.7 billion

 

Exports commodities                             coal, iron ore, gold, meat, wool, alumina, wheat

 

Total imports                                         US$187.2 billion

 

Imports commodities                             machinery and transport equipment, computers and office machines, telecommunication equipment and parts, crude oil and petroleum products

 

Export - major partners                           Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India

5.5%, UK 4.2%

 

Import - major partners                           China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany

5.2%, UK 4.3%, Thailand 4.2%

 

FDI Inflows                                            2007: US$45,477 million

2008: US$46,722 million

2009: US$22,572 million

 

FDI Outflows                                                                          2007: US$16,822 million

2008: US$32,819 million

2009: US$ 18,426 million

 

Best countries for doing business           :   10 out of 183 countries

 

Global competitiveness ranking               :   16 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population                                    : 22.23 million

Total area                                             : 7,692,024 km2

Capital                                                 :  Canberra

Currency                                                                                                      :   Australian Dollars (AUD)

Internet users as % of total population     : 74.00%

 

 

Payment history

 

Purchase Term

Local                                                    :   Prepayment, Credit 30-90 days

International                                          :   L/C, Credit 30-90 days

 

Sales Term

Local                                                    :   Prepayment, Credit 30-90 days

International                                          :   L/C, Credit 30-90 days

 

 

Trade Reference/ Payment Behaviour

Comments                                            :   As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

 

Investigation Note

Sources                                               :   Interviews and material provided by the Subject

 

:   Other official and local business sources

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.90

UK Pound

1

Rs.80.30

Euro

1

Rs.68.48

 

 

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%)

 

 

 

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.