MIRA INFORM REPORT

 

 

Report Date :           

26.11.2011

 

IDENTIFICATION DETAILS

 

Name :

HIERROS Y CARBONES SOCIEDAD ANONIMA

 

 

Registered Office :

Pol. Ind. Asipo, Parc.48 (Cayes), Llanera, 33428

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1973

 

 

Legal Form :

Public Subsidiary Company

 

 

Line of Business :

Wholesale of metals and metal ores

 

 

No. of Employees :

12 Persons

 

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

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 & address 

 

Hierros Y Carbones Sociedad Anonima

Pol. Ind. Asipo, Parc.48 (Cayes)

Llanera, 33428

Spain

Tel:       +(34) 985980759

Fax:      +(34) 985260905

Web:    www.hicasa.com

 

 

Synthesis     

 

Employees:                  12

Company Type:            Public Subsidiary

Corporate Family:          4 Companies

Ultimate Parent:            Industrias Doy Manuel Morate Sociedad Limitada

Incorporation Date:         1973

Auditor:                        Audiastur Auditores Del Principado Sl     

Financials in:                 USD (Millions)

Fiscal Year End:            26-Aug-2011

Reporting Currency:       Euro

Annual Sales:               7.7  1

Net Income:                   0.1

Total Assets:                8.0

 

 

Business Description     

 

Wholesale of metals and metal ores

 

Industry

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    3322 - Metal and Mineral Wholesaling

NACE 2002:      5152 - Wholesale of metals and ores

NAICS 2002:     423520 - Coal and Other Mineral and Ore Merchant Wholesalers

UK SIC 2003:    5152 - Wholesale of metals and ores

US SIC 1987:    505 - Metals and Minerals, Except Petroleum

 

           


Key Executives   

 

Name

Title

Secundino Roces Riera

Joint Attorney, President, Member Of The Board

Rodriguez Blanco Angel

Financial Director

Jose Maria Roces Riera

Member Of The Board, Joint Attorney, Secretary

Cosmen Garcia Francisco

Director/General Manager

Eva Roces Ordoñez

Joint Attorney

 

Registered No.(ESP): A33020744

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7223682

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6964031

 

 

Corporate Overview

 

Location

Pol. Ind. Asipo, Parc.48 (Cayes)

Llanera, 33428

Spain

Tel:       +(34) 985980759

Fax:      +(34) 985260905

Web:    www.hicasa.com

           

Sales EUR(mil):             5.6

Assets EUR(mil):           5.6

Employees:                   12

Fiscal Year End:            26-Aug-2011

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         1973

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Registered No.(ESP):     A33020744

Managing Director,

Commercial Manager:    Cosment Fco

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3322     -          Metal and Mineral Wholesaling

 

NACE 2002 Codes:

5152     -          Wholesale of metals and ores

 

NAICS 2002 Codes:

423520  -          Coal and Other Mineral and Ore Merchant Wholesalers

 

US SIC 1987:

505       -          Metals and Minerals, Except Petroleum

 

UK SIC 2003:

5152     -          Wholesale of metals and ores

 

Business Description

Wholesale of metals and metal ores

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

5.6

Net Income:

0.1

Assets:

5.6

Current Assets:

4.3

 

Fixed Assets:

1.2

 

Long Term Debt:

0.6

 

Total Liabilities:

5.6

 

Net Worth:

2.0

 

 

 

Date of Financial Data:

26-Aug-2011

 

1 Year Growth

-3.1%

NA

NA

 

Key Corporate Relationships

Auditor:

Audiastur Auditores Del Principado Sl

Bank:

Banco Bilbao Vizcaya Argentaria, S.A.

 

Auditor:

Audiastur Auditores Del Principado Sl

 

 

 

 

 

 

 

 

.

 

 

Corporate Family

Corporate Structure News:

 

Hierros Y Carbones Sociedad Anonima

Hierros Y Carbones Sociedad Anonima 
Total Corporate Family Members: 4 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Industrias Doy Manuel Morate Sociedad Limitada

Parent

 

 

 

 

 

 

Hierros Y Carbones Sociedad Anonima

Subsidiary

Llanera, Asturias

Spain

Miscellaneous Capital Goods

7.7

12

 

Roces Carbones Sociedad Limitada

Subsidiary

Llanera, Asturias

Spain

Oil and Gas Operations

6.3

1

 

Industrias Doy Manuel Morate Sociedad Limitada

Subsidiary

Oviedo, Asturias

Spain

Coal

28.9

31

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Maria Luz Ordoñez Ovin

 

Member Of The Board

Director/Board Member

 

Secundino Roces Riera

 

Joint Attorney, President, Member Of The Board

Director/Board Member

 

Jose Maria Roces Riera

 

Member Of The Board, Joint Attorney, Secretary

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Secundino Roces Riera

 

Joint Attorney, President, Member Of The Board

President

 

Cosmen Garcia Francisco

 

Director/General Manager

Division Head Executive

 

Roces Gonzalez Javier

 

Director/General Manager

Division Head Executive

 

Cosment Fco

 

Managing Director, Commercial Manager

Managing Director

 

Jose Maria Roces Riera

 

Member Of The Board, Joint Attorney, Secretary

Administration Executive

 

Rodriguez Blanco Angel

 

Financial Director

Finance Executive

 

Eva Roces Ordoñez

 

Joint Attorney

Legal Executive

 

Annual Profit & Loss

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Charges

7.4

8.4

17.6

    Supplies

4.9

5.8

12.7

        Goods Consumption

4.9

5.8

12.7

    Staff Costs

0.7

0.8

0.8

        Wages and Salaries

0.6

0.6

0.6

        Social Security Costs

0.1

0.2

0.2

    Depreciation

0.1

0.1

0.1

    Allowance for Trade Operations

0.0

-

0.2

        Losses from Unrecovered Receivables

-

-

0.2

        Variation of Other Trade Provisions

0.0

-

-

    Other Operating Charges

1.4

1.6

3.3

        External Services

1.3

1.6

2.3

        Taxes

0.0

0.0

0.0

        Other Operating Expenses

0.1

-

1.0

Operating Benefits

0.3

0.2

1.0

    Financials and Similar Charges

0.2

0.2

0.4

        Due to Liabilities With Group Companies

0.0

0.0

0.1

        Due to Other Liabilities

0.1

0.1

0.3

        Losses from Financial Investments

-

0.0

-

Profit From Ordinary Activities

0.1

0.1

0.6

Profit Before Taxes

0.1

0.1

0.6

    Corporation Tax

0.0

0.0

0.2

Financial Year Result (Profit)

0.1

0.1

0.5

Income

7.5

8.5

18.1

    Net Total Sales

7.4

8.2

17.9

        Sales

7.2

7.8

17.4

        Rendering of Services

0.2

0.4

0.6

    Miscellaneous Operating Income

0.0

0.2

0.1

        Auxiliary Income From Current Management

0.0

0.2

0.1

    Income From Equity Investment

-

-

0.0

        Third Parties

-

-

0.0

    Income From Miscellaneous Interests

0.0

0.0

-

        From Group Companies

0.0

-

-

        Miscellaneous Interests

0.0

0.0

-

Negative Financial Results

0.1

0.1

0.3

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

        Land and Construction

0.0

0.0

0.0

        Technical Installations and Machinery

0.2

0.3

0.3

        Other Installations, Tools, and Furniture

0.1

0.1

0.1

        Tangible Fixed Assets Under Construction

0.1

-

-

    Total Tangible Fixed Assets

0.4

0.4

0.4

        Investments in Group Companies

0.7

0.8

0.8

        Long-Term Securities Portfolio

0.5

0.5

0.5

        Other Receivables

-

0.0

0.0

        Long-Term Guarantees and Deposits

0.0

-

-

    Financial Investments

1.2

1.3

1.3

Total Fixed Assets

1.7

1.7

1.7

        Goods for Resale

1.6

2.4

2.7

        Raw Materials and Other Consumables

0.0

0.0

0.0

    Total Stocks

1.6

2.4

2.7

        Trade Debtors

1.7

2.2

4.9

        Receivables, Group Companies

0.2

0.1

0.2

        Receivables, Associated Companies

0.4

0.2

0.3

        Other Debtors

0.0

0.0

0.0

        Public Bodies

0.1

0.0

0.0

    Total Debtors

2.4

2.7

5.4

        Receivables from Group Companies

0.4

-

-

    Total Short-Term Investments

0.4

-

-

    Cash

1.3

0.0

0.0

    Prepayments and Accrued Income

0.1

-

-

Total Current Assets

5.8

5.0

8.1

Total Assets

7.5

6.8

9.8

        Legal Reserve

0.1

0.1

0.1

        Miscellaneous Reserves

2.1

2.1

1.6

    Total Reserves

2.1

2.2

1.7

    Profit or Loss for the Financial Year

0.1

0.1

0.4

Total Equity

2.7

2.7

2.6

        Loans and Other Liabilities

0.8

0.1

0.5

        Long-Term Liabilities from Capital Leases

0.0

0.0

0.1

    Total Amounts Owed to Credit Institutions

0.8

0.1

0.6

        Long-Term Payables to Public Bodies

0.0

0.0

0.0

    Total Other Creditors

0.0

0.0

0.0

Total Long Term Liabilities

0.8

0.2

0.6

        Loans and Other Liabilities

0.9

1.7

3.7

        Short-Term Liabilities from Capital Leases

0.0

0.0

0.1

    Total Amounts Owed to Credit Institutions

0.9

1.7

3.8

        Amounts Owed to Group Companies

2.3

1.1

1.1

    Total Short-Term Amounts Owed to Group and Associa

2.3

1.1

1.1

        Amounts Owed for Purchases of Goods or Services

0.7

0.9

1.5

    Total Trade Creditors

0.7

0.9

1.5

        Public Bodies

0.0

0.1

0.2

    Total Other Creditors

0.0

0.1

0.2

Total Short Term Creditors

4.0

3.9

6.7

Total Liabilities and Equity

7.5

6.8

9.8

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.17

UK Pound

1

Rs.80.64

Euro

1

Rs.69.43

 

 

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.