MIRA INFORM REPORT

 

 

Report Date :

21.09.2011

 

IDENTIFICATION DETAILS

 

Name :

MOVIFLOR - COMéRCIO DE MOBILIáRIO, S.A.

 

 

Registered Office :

Largo Da Graça, 28 Lisboa, 1199-008

 

 

Country :

Portugal

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

28.12.1998

 

 

Com. Reg. No.:

504861190

 

 

Legal Form :

Public Independent

 

 

Line of Business :

Retail sale of furniture, lighting equipment and household articles not elsewhere classified

 

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 :

Usually Correct

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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

Moviflor - Comércio De Mobiliário, S.A.

                                                                                                                                                     

 

Largo Da Graça, 28

 

 

Lisboa, 1199-008

Portugal

 

Tel:

+351 218810290

Fax:

+351 217251499

 

Suggest Company URL

 

Employees:

1,400

Company Type:

Public Independent

 

 

Incorporation Date:

28-Dec-1998

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2009

Reporting Currency:

Euro

Annual Sales:

196.6

Total Assets:

268.2

 

Business Description       

 

 

Moviflor - Comércio De Mobiliário, S.A. is primarily engaged in retail sale of (furniture; articles for lighting; non-electrical household appliances; household utensils and cutlery, crockery, glassware, china and pottery; curtains, net curtains and other household furnishing articles of textile materials; wood, cork goods and wickerwork goods; and household articles and equipment not elsewhere classified).

 

Industry

            

 

Industry

Retail (Specialty)

ANZSIC 2006:

421 - Furniture, Floor Coverings, Houseware and Textile Goods Retailing

NACE 2002:

5244 - Retail sale of furniture, lighting equipment and household articles not elsewhere classified

NAICS 2002:

442 - Furniture and Home Furnishings Stores

UK SIC 2003:

5244 - Retail sale of furniture, lighting equipment and household articles not elsewhere classified

US SIC 1987:

5712 - Furniture Stores

 

Key Executives           

                      

 

Name

Title

Teresa Albuquerque

Managing director, Personnel manager

Eugénia Dias

Marketing manager

Carlos Coelho

Operations manager/director

Francisco Pereira

Accountant

Mário Esteves

Personnel manager

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
Largo Da Graça, 28
Lisboa, 1199-008
Lisboa County
Portugal

 

Tel:

+351 218810290

Fax:

+351 217251499

 

Suggest Company URL

Sales EUR(mil):

141.4

Assets EUR(mil):

186.9

Employees:

1,400

Fiscal Year End:

31-Dec-2009

 

Industry:

Retail (Specialty)

Incorporation Date:

28-Dec-1998

Company Type:

Public Independent

Quoted Status:

Not Quoted

Registered No.(PRT):

504861190

 

Managing director, Personnel manager:

Teresa Albuquerque

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

421

-

Furniture, Floor Coverings, Houseware and Textile Goods Retailing

 

NACE 2002 Codes:

5244

-

Retail sale of furniture, lighting equipment and household articles not elsewhere classified

 

NAICS 2002 Codes:

442

-

Furniture and Home Furnishings Stores

 

US SIC 1987:

5712

-

Furniture Stores

 

UK SIC 2003:

5244

-

Retail sale of furniture, lighting equipment and household articles not elsewhere classified

 

 

Business Description

Moviflor - Comércio De Mobiliário, S.A. is primarily engaged in retail sale of (furniture; articles for lighting; non-electrical household appliances; household utensils and cutlery, crockery, glassware, china and pottery; curtains, net curtains and other household furnishing articles of textile materials; wood, cork goods and wickerwork goods; and household articles and equipment not elsewhere classified).

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

141.4

Assets:

186.9

Current Assets:

39.4

 

Total Liabilities:

186.9

 

Issued Capital:

18.1

 

Net Worth:

50.2

 

 

 

Date of Financial Data:

31-Dec-2009

 

1 Year Growth

5.2%

NA

 

 

Key Corporate Relationships

Bank:

Finibanco, Banif - Banco Internacional Do Funchal, Caixa Geral De Depositos

 

 

 

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Executives

 

Name

Title

Function

Teresa Albuquerque

 

Managing director, Personnel manager

Managing Director

Carlos Coelho

 

Operations manager/director

Operations Executive

Francisco Pereira

 

Accountant

Accounting Executive

Mário Esteves

 

Personnel manager

Human Resources Executive

Eugénia Dias

 

Marketing manager

Marketing Executive

Luis Fialho

 

Commercial director

Commercial Executive

Maria Remígio

 

Executive

Other

 

 

 

 

Annual Profit & Loss

 

 

 

 

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2005

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.804541

Consolidated

No

No

No

 

 

 

 

Total income

202.0

230.3

128.1

Net sales

196.6

224.6

125.5

Change in stock

0.1

-0.1

-

Subsidies for operating costs

0.2

0.2

-

Supplementary operating income

1.4

1.8

0.1

Other operating income

1.5

0.7

0.1

Cost of goods sold

106.8

123.6

72.3

Cost of sales

106.8

123.6

72.3

Service costs

36.8

45.3

19.1

Total payroll costs

31.7

33.4

19.0

Fixed asset depreciation and amortisation

6.0

5.2

3.1

Other operating costs

0.3

0.3

0.0

Total financial income

2.1

3.0

1.3

Total expenses

12.1

14.4

7.8

Profit before tax

3.9

3.6

6.1

Extraordinary income

0.2

0.2

1.1

Extraordinary expenses

3.3

3.8

0.5

Other taxes

1.1

0.7

0.2

Total taxation

1.6

1.5

1.8

Net profit

2.4

2.1

4.3

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2005

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.847781

Consolidated

No

No

No

 

 

 

 

Issued capital

26.0

25.1

17.8

Surplus of revaluation

21.8

21.1

-

Available reserves

0.7

0.6

7.5

Total reserves

0.1

0.1

0.5

Profits for the year

2.4

2.0

4.1

Profit brought forward from previous year(s)

6.9

4.9

0.1

Capital subsidies and grants

14.1

13.7

-

Total stockholders equity

72.0

67.6

30.0

Other long-term liabilities

76.8

83.8

28.3

Trade creditors

42.2

45.2

15.9

Advances received

-

-

1.9

Bank loans and overdrafts

30.6

28.8

12.7

Other liabilities

19.7

11.2

10.6

Debts on fixed assets

1.0

2.6

3.6

Taxes

8.7

8.6

5.3

Other current liabilities

11.8

12.7

0.8

Total current liabilities

114.1

109.0

50.8

Total debts

196.2

199.1

81.6

Regularisation account

5.4

6.3

2.5

Total liabilities (including net worth)

268.2

266.7

111.6

Intangibles

59.1

56.8

4.3

Land

25.9

25.1

12.5

Buildings

111.0

79.8

33.3

Machinery and tools

0.2

0.2

0.0

Fixtures and equipment

12.0

11.6

1.3

Furniture and vehicles

6.7

7.3

1.8

Other fixed assets

12.1

30.3

2.0

Total tangible fixed assets

167.9

154.2

51.0

Other financial assets

8.2

5.6

-

Shares held in associated companies

6.5

8.5

0.0

Participating interest

0.1

0.1

-

Depreciation and amortisation

-33.9

-31.4

-9.9

Raw materials

0.1

0.0

0.2

Work in progress

0.2

0.1

-

Merchandise

31.0

35.2

34.7

Net stocks and work in progress

31.2

35.3

34.9

Trade debtors

11.3

17.5

0.8

Other receivables

6.0

6.3

27.5

General accounts

5.1

6.0

-

Doubtful receivables

-0.1

-0.1

0.0

Cash and liquid assets

0.2

0.4

0.0

Money on deposit at bank(s)

2.7

1.1

0.9

Recoverable taxation

-

-

0.2

Total current assets

56.5

66.4

64.4

Prepaid expenses and deferred costs

3.9

6.4

1.9

Total assets

268.2

266.7

111.6

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2005

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.847781

Consolidated

No

No

No

 

 

 

 

Current ratio

0.50

0.60

1.30

Acid test ratio

0.20

0.30

0.60

Total liabilities to net worth

0.37%

0.34%

0.37%

Net worth to total assets

0.27%

0.25%

0.27%

Current liabilities to net worth

1.59%

1.61%

1.69%

Current liabilities to stock

3.65%

3.09%

1.45%

Fixed assets to net worth

2.89%

2.87%

1.51%

Collection period

20.40

29.90

2.60

Stock turnover rate

6.50

6.00

3.40

Asset utilisation

1.32%

1.25%

0.94%

Creditors to sales

96.80

93.30

68.50

Asset turnover

0.76%

0.80%

1.07%

Profit margin

0.01%

0.01%

0.04%

Return on assets

0.01%

0.01%

0.04%

Shareholders' return

0.03%

0.03%

0.14%

Sales per employee

100.98

109.68

72.15

Profit per employee

1.21

1.01

2.49

Return on capital

0.02%

0.01%

0.07%

Net worth

72.0

67.6

30.0

Number of employees

1,400

1,400

1,400

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.22

UK Pound

1

Rs.75.63

Euro

1

Rs.65.64

 

 

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.