MIRA INFORM REPORT

 

 

Report Date :           

14.10.2011

 

IDENTIFICATION DETAILS

 

Name :

ISLAS NATURA 07 SOCIEDAD ANONIMA

 

 

Registered Office :

C/ Arguineguin, 39 - Urb. Lomo Blanco, Las., Las Palmas De Gran Canaria, 35010

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

A35444751

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Other retail sale in non-specialised stores

 

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 

 

Islas Natura 07 Sociedad Anonima

C/ Arguineguin, 39 - Urb. Lomo Blanco, Las.

Las Palmas De Gran Canaria, 35010

Spain

Tel:       +(34) 928163464

Fax:      +(34) 928229968

 

 

Synthesis     

 

Employees:                  151

Company Type:            Public Independent

Incorporation Date:         1996

Auditor:                        Alvarez Y Asociados Sociedad Limitada 

Financials in:                 USD (Millions)

Fiscal Year End:            16-Oct-2010

Reporting Currency:       Euro

Annual Sales:               15.0  1

Net Income:                  1.3

Total Assets:                 14.1

 

 

Business Description     

 

Other retail sale in non-specialised stores

 

Industry

Industry            Retail (Grocery)

ANZSIC 2006:    4279 - Other Store-Based Retailing Not Elsewhere Classified

NACE 2002:      5212 - Other retail sale in non-specialised stores

NAICS 2002:     4451 - Grocery Stores

UK SIC 2003:    5212 - Other retail sale in non-specialised stores

US SIC 1987:    5399 - Miscellaneous General Merchandise Stores

 

           


Key Executives   

 

Name

Title

Luis Pichel Pereira

Member Of The Board, Joint Chief Executive Officer, Secretary

Limitada Suavepa Sociedad

Joint Chief Executive Officer, Member Of The Board

Jorge Tizon Villaverde

Member Of The Board, Joint Chief Executive Officer, President

 

Registered No.(ESP): A35444751

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7420427

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7136995

 

 

Corporate Overview

 

Location

C/ Arguineguin, 39 - Urb. Lomo Blanco, Las.

Las Palmas De Gran Canaria, 35010

Spain

Tel:       +(34) 928163464

Fax:      +(34) 928229968

           

Sales EUR(mil):             11.1

Assets EUR(mil):           10.1

Employees:                   151

Fiscal Year End:            16-Oct-2010

Industry:                        Retail (Grocery)

Incorporation Date:         1996

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     A35444751

Member Of The Board,

Joint Chief Executive

Officer, Secretary:          Luis Pichel Pereira

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Branch Offices

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

4279     -          Other Store-Based Retailing Not Elsewhere Classified

 

NACE 2002 Codes:

5212     -          Other retail sale in non-specialised stores

 

NAICS 2002 Codes:

4451     -          Grocery Stores

 

US SIC 1987:

5399     -          Miscellaneous General Merchandise Stores

 

UK SIC 2003:

5212     -          Other retail sale in non-specialised stores

 

Business Description

Other retail sale in non-specialised stores

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

11.1

Net Income:

1.0

Assets:

10.1

Current Assets:

3.2

 

Fixed Assets:

6.8

 

Long Term Debt:

1.6

 

Total Liabilities:

10.1

 

Issued Capital:

0.1

 

Net Worth:

5.9

 

 

 

Date of Financial Data:

16-Oct-2010

 

1 Year Growth

NA

NA

NA

 

 

Branch Offices

Location
Av. Garabanxa, 11
Oroso, 15888

 

Tel: +(34) 981688933

     

 

Location
Los Afligidos, 47
Los Realejos, 38419

 

Tel: +(34) 922346450

     

 

 

 

Key Corporate Relationships

Auditor:

Alvarez Y Asociados Sociedad Limitada

Bank:

Banco Bilbao Vizcaya Argentaria, S.A., Bankinter, S.A., Caja De Ahorros Municipal De Burgos, Caja De Ahorros Y Pensiones De Barcelona, Caja General De Ahorros De Canarias (Caja Canarias)

 

Auditor:

Alvarez Y Asociados Sociedad Limitada

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Luis Pichel Pereira

 

Member Of The Board, Joint Chief Executive Officer, Secretary

Director/Board Member

 

Limitada Suavepa Sociedad

 

Joint Chief Executive Officer, Member Of The Board

Director/Board Member

 

Jorge Tizon Villaverde

 

Member Of The Board, Joint Chief Executive Officer, President

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Luis Pichel Pereira

 

Member Of The Board, Joint Chief Executive Officer, Secretary

Chief Executive Officer

 

Limitada Suavepa Sociedad

 

Joint Chief Executive Officer, Member Of The Board

Chief Executive Officer

 

Jorge Tizon Villaverde

 

Member Of The Board, Joint Chief Executive Officer, President

Chief Executive Officer

 

 

Annual Profit & Loss

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.730637

Consolidated

No

No

No

 

 

 

 

Charges

14.1

12.0

9.8

    Staff Costs

3.7

3.1

2.5

        Wages and Salaries

2.9

2.5

2.0

        Social Security Costs

0.8

0.7

0.5

    Depreciation

0.6

0.5

0.3

    Other Operating Charges

3.2

3.0

2.3

Operating Benefits

1.7

2.2

1.2

    Financials and Similar Charges

0.2

0.1

0.1

        Due to Other Liabilities

0.2

0.1

0.1

        Losses from Financial Investments

-

-

0.0

    Exchange Losses

0.1

0.0

0.0

Profit From Ordinary Activities

1.5

2.1

1.2

    Losses From Assets and Securities Portfolio

0.1

-

-

    Extraordinary Expenses

0.0

0.0

0.0

Extraordinary Profit

-

0.0

-

Profit Before Taxes

1.4

2.2

1.2

    Corporation Tax

0.1

0.1

0.1

Financial Year Result (Profit)

1.4

2.1

1.1

Income

15.5

14.1

11.0

    Net Total Sales

15.4

13.9

10.9

    Gains from Exchange Rate

-

0.0

0.0

Negative Financial Results

0.2

0.1

0.0

    Profit on Disposal of Assets

-

0.0

-

    Extraordinary Income

-

0.0

0.0

Negative Extraordinary Results

0.1

-

0.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

    Formation Expenses

-

0.0

0.0

        Concessions, Patents, Trademarks

0.1

0.1

0.1

        Fees Paid for Premises

0.2

0.3

-

        Software

0.1

0.1

0.1

        Assets Under Capital Lease

-

-

0.1

        Accumulated Depreciation

-

-0.1

-0.1

    Total Intangible Fixed Assets

0.4

0.3

0.1

        Land and Construction

5.3

4.6

2.5

        Technical Installations and Machinery

3.2

3.5

2.2

        Other Installations, Tools, and Furniture

0.4

0.4

0.4

        Tangible Fixed Assets Under Construction

0.0

0.4

0.9

        Other Tangible Assets

0.3

0.3

0.2

        Accumulated Depreciation

-

-1.5

-1.1

    Total Tangible Fixed Assets

9.2

7.7

5.1

        Long-Term Guarantees and Deposits

0.3

0.2

0.2

    Financial Investments

0.3

0.2

0.2

Total Fixed Assets

9.8

8.3

5.4

Deferred Expenses

-

0.0

0.0

        Goods for Resale

2.4

2.1

1.5

        Payments on Account

0.7

0.5

0.1

    Total Stocks

3.1

2.5

1.6

        Trade Debtors

0.0

0.0

0.0

        Other Debtors

-

0.0

-

        Staff

0.0

0.0

0.0

        Public Bodies

0.1

0.1

0.0

    Total Debtors

0.1

0.1

0.0

        Short-Term Securities Portfolio

0.0

0.3

0.0

        Short-Term Guarantees and Deposits

1.0

0.0

0.0

    Total Short-Term Investments

1.0

0.3

0.0

    Cash

0.4

1.3

1.7

Total Current Assets

4.6

4.2

3.3

Total Assets

14.4

12.6

8.7

        Legal Reserve

0.0

0.0

0.0

        Miscellaneous Reserves

7.0

4.8

3.8

    Total Reserves

7.0

4.8

3.9

    Profit or Loss for the Financial Year

1.4

2.0

1.2

Total Equity

8.5

6.9

5.2

        Loans and Other Liabilities

2.3

2.5

1.5

    Total Amounts Owed to Credit Institutions

2.3

2.5

1.5

        Long-Term Payables to Public Bodies

0.0

-

-

    Total Other Creditors

0.0

-

-

Total Long Term Liabilities

2.3

2.5

1.5

        Loans and Other Liabilities

1.1

1.2

0.7

    Total Amounts Owed to Credit Institutions

1.1

1.2

0.7

        Advanced Payments from Customers

0.1

0.1

0.0

        Amounts Owed for Purchases of Goods or Services

2.1

1.7

1.2

        Debts Represented by Notes Payable

-

0.1

0.1

    Total Trade Creditors

2.2

1.8

1.3

        Public Bodies

0.3

0.2

0.1

        Miscellaneous Debts

0.0

-

0.0

        Wages and Salaries Payable

0.0

0.0

0.0

    Total Other Creditors

0.3

0.2

0.2

Total Short Term Creditors

3.6

3.2

2.1

Total Liabilities and Equity

14.4

12.6

8.7

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.02

UK Pound

1

Rs.77.13

Euro

1

Rs.67.56

 

 

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

----

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.