MIRA INFORM REPORT

 

 

Report Date :           

02.04.2012

 

IDENTIFICATION DETAILS

 

Name :

FERCOMETAL SL

 

 

Registered Office :

Cmno Bobalar Raco D´Ademus, 17, Alaquas, 46970

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1992

 

 

Com. Reg. No.:

B96090683

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Dismantling of wrecks

 

 

No. of Employees :

12

 

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 

 

Fercometal Sl

Cmno Bobalar Raco D´Ademus, 17

Alaquas, 46970

Spain

Tel:       +(34) 961592612

Web: www.combios.es/drawwave/fercometal

           

 

Synthesis

 

Employees:                  12

Company Type:            Private Independent

Incorporation Date:         1992

Auditor:                        Gimeno Romo Consultors S.L    

Financials in:                 USD (Millions)

Fiscal Year End:            07-Nov-2011

Reporting Currency:       Euro

Annual Sales:               40.7  1

Net Income:                  2.1

Total Assets:                 13.6

 

 

Business Description     

 

Dismantling of wrecks

 

Industry             

Industry            Waste Management Services

ANZSIC 2006:    29 - Waste Collection, Treatment and Disposal Services

NACE 2002:      3710 - Recycling of metal waste and scrap

NAICS 2002:     562920 - Materials Recovery Facilities

UK SIC 2003:    3710 - Recycling of metal waste and scrap

US SIC 1987:    4953 - Refuse Systems

 

           

Key Executives   

 

Name                                       Title    

Rodriguez Cosin Fernando          Administrator, Managing Director


Registered No.(ESP): B96090683

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7187441

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7272198

 

 

Corporate Overview

 

Location

Cmno Bobalar Raco D´Ademus, 17

Alaquas, 46970

Spain

Tel:       +(34) 961592612

Web:    www.combios.es

           

Sales EUR(mil):             29.3

Assets EUR(mil):           9.9

Employees:                   12

Fiscal Year End:            07-Nov-2011

Industry:                        Waste Management Services

Incorporation Date:         1992

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     B96090683

Administrator,

Managing Director:         Rodriguez Cosin Fernando

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

ANZSIC 2006 Codes:

29         -          Waste Collection, Treatment and Disposal Services

 

NACE 2002 Codes:

3710     -          Recycling of metal waste and scrap

 

NAICS 2002 Codes:

562920  -          Materials Recovery Facilities

 

US SIC 1987:

4953     -          Refuse Systems

 

UK SIC 2003:

3710     -          Recycling of metal waste and scrap

 

Business Description

Dismantling of wrecks

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

29.3

Net Income:

1.5

Assets:

9.9

Current Assets:

9.2

 

Fixed Assets:

0.7

 

Long Term Debt:

0.2

 

Total Liabilities:

9.9

 

Issued Capital:

0.0

 

Net Worth:

7.0

 

 

 

Date of Financial Data:

07-Nov-2011

 

1 Year Growth

NA

NA

NA

Key Corporate Relationships

Auditor:

Gimeno Romo Consultors S.L

Bank:

Banco De Sabadell, S.A., Caja Rural De Carcaixent, Coop. Cto. Valenciana, Banco Bilbao Vizcaya Argentaria, S.A.

 

Auditor:

Gimeno Romo Consultors S.L

 

 

 

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Rodriguez Cosin Fernando

 

Administrator, Managing Director

Managing Director

 


 

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

37.1

22.7

49.5

    Staff Costs

0.6

0.6

0.6

        Wages and Salaries

0.5

0.5

0.5

        Social Security Costs

0.1

0.1

0.1

    Depreciation

0.2

0.2

0.2

    Other Operating Charges

2.4

2.0

2.8

Operating Benefits

2.8

1.6

1.8

    Financials and Similar Charges

0.1

0.1

0.5

        Due to Other Liabilities

0.1

0.1

0.5

        Losses from Financial Investments

-

-

0.0

Net Financial Income

0.1

0.1

-

Profit From Ordinary Activities

2.9

1.6

1.7

Extraordinary Profit

0.0

-

0.0

Profit Before Taxes

2.9

1.6

1.7

    Corporation Tax

0.9

0.5

0.5

Financial Year Result (Profit)

2.0

1.1

1.2

Income

39.1

23.9

50.7

    Net Total Sales

38.7

23.6

50.2

    Gains from Exchange Rate

0.2

0.0

0.3

Negative Financial Results

-

-

0.1

    Profit on Disposal of Assets

0.0

-

0.0

    Extraordinary Income

0.0

-

-

 

 

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

 

 

 

 

        Software

0.0

0.0

0.0

    Total Intangible Fixed Assets

0.0

0.0

0.0

        Land and Construction

0.2

0.2

0.2

        Technical Installations and Machinery

0.4

0.4

0.3

        Other Installations, Tools, and Furniture

0.1

0.1

0.1

        Other Tangible Assets

0.2

0.2

0.2

    Total Tangible Fixed Assets

0.9

0.9

0.9

        Other Receivables

-

-

0.1

        Long-Term Guarantees and Deposits

0.1

0.1

-

    Financial Investments

0.1

0.1

0.1

Total Fixed Assets

0.9

1.0

0.9

        Goods for Resale

5.2

3.6

2.1

        Payments on Account

0.2

0.0

0.6

    Total Stocks

5.4

3.6

2.7

        Trade Debtors

3.3

2.5

3.4

        Other Debtors

0.1

0.1

0.4

        Staff

0.0

0.0

0.0

        Public Bodies

0.7

0.1

0.1

    Total Debtors

4.0

2.8

3.9

        Other Receivables

0.0

0.0

0.0

        Short-Term Guarantees and Deposits

2.1

2.9

0.0

    Total Short-Term Investments

2.1

3.0

0.0

    Cash

0.8

0.9

1.5

    Prepayments and Accrued Income

0.0

0.0

0.0

Total Current Assets

12.3

10.2

8.2

Total Assets

13.3

11.2

9.1

        Legal Reserve

0.0

0.0

0.0

        Miscellaneous Reserves

7.4

6.7

4.3

    Total Reserves

7.4

6.7

4.3

    Profit or Loss for the Financial Year

2.1

1.2

1.1

Total Equity

9.4

7.9

5.5

        Long-Term Liabilities from Capital Leases

0.2

0.2

-

    Total Amounts Owed to Credit Institutions

0.2

0.2

-

        Long-Term Guarantees and Deposits Received

0.0

0.0

0.1

        Long-Term Payables to Public Bodies

0.1

0.1

0.1

    Total Other Creditors

0.1

0.1

0.2

Total Long Term Liabilities

0.3

0.3

0.2

        Loans and Other Liabilities

2.3

2.0

1.2

        Short-Term Liabilities from Capital Leases

0.1

0.1

0.2

    Total Amounts Owed to Credit Institutions

2.4

2.1

1.4

        Advanced Payments from Customers

-

0.0

0.0

        Amounts Owed for Purchases of Goods or Services

0.9

0.7

1.7

    Total Trade Creditors

0.9

0.7

1.7

        Public Bodies

0.3

0.3

0.3

        Miscellaneous Debts

0.0

0.0

-

        Wages and Salaries Payable

-

0.0

0.0

    Total Other Creditors

0.3

0.3

0.3

Total Short Term Creditors

3.6

3.1

3.4

Total Liabilities and Equity

13.3

11.2

9.1

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.16

UK Pound

1

Rs.81.72

Euro

1

Rs.68.34

 

 

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.