MIRA INFORM REPORT

 

 

Report Date :

19.10.2011

 

IDENTIFICATION DETAILS

 

Name :

PESCANOVA (PORTUGAL) - PRODUTOS ALIMENTARES, LDA

 

 

Registered Office :

Avenida Da República, 1B, 4ºandar Algés, 1495-110

 

 

Country :

Portugal

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

10.03.2011

 

 

Com. Reg. No.:

501862293

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Wholesale of other food including fish, crustaceans and molluscs

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Portugal

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

Top of Form

Bottom of Form

Pescanova (Portugal) - Produtos Alimentares, LDA

                                                                                                                                                     

 

Avenida Da República, 1B, 4ºandar

 

 

Algés, 1495-110

Portugal

 

Tel:

+351 213025800

Fax:

+351 213025802

 

Suggest Company URL

 

Employees:

29

Company Type:

Private Subsidiary

Corporate Family:

4 Companies

Ultimate Parent:

PESCANOVA SA

 

 

Incorporation Date:

10-Mar-2011

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2009

Reporting Currency:

Euro

Annual Sales:

72.5

Total Assets:

33.8

                                      

Business Description       

 

Pescanova (Portugal) - Produtos Alimentares, LDA is primarily engaged in wholesale of other food including fish, crustaceans and molluscs. This class also includes: wholesale of potato products; and wholesale of feed for pet animals.

          

Industry                                                                                                                               

 

Industry

Retail (Grocery)

ANZSIC 2006:

360 - Grocery, Liquor and Tobacco Product Wholesaling

NACE 2002:

5138 - Wholesale of other food including fish, crustaceans and molluscs

NAICS 2002:

424460 - Fish and Seafood Merchant Wholesalers

UK SIC 2003:

5138 - Wholesale of other food including fish, crustaceans and molluscs

US SIC 1987:

5149 - Groceries and Related Products, Not Elsewhere Classified

                      

Key Executives           

   

 

Name

Title

António Henriques

Manager, Managing director

Susana Sobrino

Financial director

Ana Vicente

Marketing manager

Simone Paulino

Personnel manager

Dionisio Duarte

Commercial director

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855

 


Corporate Overview

 

Location
Avenida Da República, 1B, 4ºandar
Algés, 1495-110
Oeiras County
Portugal

 

Tel:

+351 213025800

Fax:

+351 213025802

 

Suggest Company URL

Sales EUR(mil):

52.1

Assets EUR(mil):

23.6

Employees:

29

Fiscal Year End:

31-Dec-2009

 

Industry:

Retail (Grocery)

Incorporation Date:

10-Mar-2011

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(PRT):

501862293

 

Manager, Managing director:

António Henriques

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

360

-

Grocery, Liquor and Tobacco Product Wholesaling

 

NACE 2002 Codes:

5138

-

Wholesale of other food including fish, crustaceans and molluscs

 

NAICS 2002 Codes:

424460

-

Fish and Seafood Merchant Wholesalers

 

US SIC 1987:

5149

-

Groceries and Related Products, Not Elsewhere Classified

 

UK SIC 2003:

5138

-

Wholesale of other food including fish, crustaceans and molluscs

 

 

Business Description

Pescanova (Portugal) - Produtos Alimentares, LDA is primarily engaged in wholesale of other food including fish, crustaceans and molluscs. This class also includes: wholesale of potato products; and wholesale of feed for pet animals.

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

52.1

Assets:

23.6

Current Assets:

22.7

 

Total Liabilities:

23.6

 

Issued Capital:

4.1

 

Net Worth:

4.9

 

 

 

Date of Financial Data:

31-Dec-2009

 

1 Year Growth

4.9%

NA

 

 

Key Corporate Relationships

Bank:

Banco Espirito Santo, Banco Santander Totta, Caixa Geral De Depósitos

 

 

 

 

 

 

 

 

 

 

Corporate Structure News

 

Pescanova (Portugal) - Produtos Alimentares, LDA
Total Corporate Family Members: 4

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

PESCANOVA SA

Parent

 

 

 

 

 

Pescanova (Portugal) - Produtos Alimentares, LDA

Subsidiary

Algés

Portugal

Retail (Grocery)

72.5

29

Pescanova France S.A.

Subsidiary

St Contest

France

Food Processing

49.3

14

Pescanova Italia SRL

Subsidiary

Bologna, Bologna

Italy

Food Processing

27.2

12

 

 

 

 

Executives Report

 

 

Executives

 

Name

Title

Function

António Henriques

 

Manager, Managing director

Managing Director

Susana Sobrino

 

Financial director

Finance Executive

Simone Paulino

 

Personnel manager

Human Resources Executive

Ana Vicente

 

Marketing manager

Marketing Executive

Dionisio Duarte

 

Commercial director

Commercial Executive

Pablo Andrade

 

Manager

Other

César Moreton

 

Manager

Other

Cesar Rodriguez

 

Manager

Other

 

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

 

 

 

 

Total income

73.0

74.9

63.2

Net sales

72.5

74.3

60.9

Other operating income

0.1

0.5

0.0

Cost of goods sold

55.9

55.3

43.5

Cost of sales

55.9

55.3

43.5

Service costs

13.4

14.6

13.1

Total payroll costs

2.5

2.8

2.5

Fixed asset depreciation and amortisation

-

0.2

0.1

Other operating costs

0.1

0.1

0.3

Total financial income

0.3

0.0

0.1

Total expenses

0.8

1.2

1.0

Profit before tax

0.2

0.2

2.6

Extraordinary income

0.1

0.1

2.2

Extraordinary expenses

0.1

0.6

0.1

Other taxes

0.0

0.0

0.0

Total taxation

0.1

0.1

0.8

Net profit

0.1

0.1

1.8

 

 

 

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

 

 

 

 

Issued capital

5.8

5.7

6.0

Surplus of revaluation

0.0

0.0

0.0

Available reserves

-

-

0.4

Total reserves

0.6

0.5

0.5

Profits for the year

0.1

0.1

2.0

Profit brought forward from previous year(s)

0.5

0.4

-

Advance dividends

-

-

-1.9

Total stockholders equity

7.0

6.7

6.9

Other long-term liabilities

10.0

9.7

10.2

Trade creditors

5.4

7.2

3.7

Bank loans and overdrafts

4.4

3.6

1.8

Loans from principals

2.7

-

7.7

Debts on fixed assets

-

0.0

0.0

Taxes

1.1

1.2

1.0

Other current liabilities

0.1

0.1

0.1

Total current liabilities

13.6

12.1

14.2

Total debts

26.8

25.2

27.8

Regularisation account

3.1

3.3

3.4

Total liabilities (including net worth)

33.8

31.9

34.8

Intangibles

0.1

0.2

0.2

Fixtures and equipment

0.0

0.2

0.2

Furniture and vehicles

0.5

2.1

2.2

Other fixed assets

1.2

1.2

1.3

Total tangible fixed assets

1.8

3.5

3.8

Shares held in associated companies

0.1

0.1

0.1

Participating interest

0.0

0.0

0.0

Depreciation and amortisation

-1.7

-3.6

-3.8

Merchandise

13.1

11.6

15.9

Net stocks and work in progress

13.1

11.6

15.9

Trade debtors

21.4

21.2

19.6

Other receivables

-

0.0

0.0

General accounts

0.2

-

0.1

Doubtful receivables

-3.0

-3.0

-3.5

Cash and liquid assets

0.0

0.0

0.0

Money on deposit at bank(s)

0.5

0.5

0.7

Recoverable taxation

0.4

0.4

0.4

Total current assets

32.6

30.8

33.1

Prepaid expenses and deferred costs

1.0

0.9

1.4

Total assets

33.8

31.9

34.8

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

Current ratio

2.40

2.50

2.30

Acid test ratio

1.40

1.60

1.20

Total liabilities to net worth

0.26%

0.27%

0.25%

Net worth to total assets

0.21%

0.21%

0.20%

Current liabilities to net worth

1.94%

1.80%

2.04%

Current liabilities to stock

1.04%

1.05%

0.89%

Fixed assets to net worth

0.03%

0.03%

0.03%

Collection period

104.50

109.70

109.80

Stock turnover rate

5.70

6.10

4.10

Asset utilisation

0.45%

0.45%

0.53%

Creditors to sales

35.80

35.60

42.80

Asset turnover

2.21%

2.22%

1.87%

Profit margin

0.00%

0.00%

0.03%

Return on assets

0.00%

0.00%

0.06%

Shareholders' return

0.02%

0.02%

0.28%

Sales per employee

1,797.39

1,751.19

1,534.40

Profit per employee

2.75

2.77

46.45

Return on capital

0.01%

0.01%

0.12%

Net worth

7.0

6.7

6.9

Number of employees

29

29

29

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.58

Euro

1

Rs.67.58

 

 

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.