MIRA INFORM REPORT
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Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MANET IMPORT SL |
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Registered Office : |
Mercado Mercabarna, Ed Frimercat 1
Despacho 11, 08040 Barcelona |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.01.1991 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of fish |
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No. of Employees
: |
29 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
--- |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
MANET IMPORT SL
CIF/NIF: B59614495
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: MANET IMPORT SL
Other names: YES
Current Address: MERCADO MERCABARNA, ED
FRIMERCAT 1 DESPACHO 11
Telephone number: 932621086
Fax: 933365317
URL: www.distfish.com
Corporate e-mail: manet@distfish.com
Trade Risk
Incidents: NO
Financial Information
Latest sales known (2011): 38.805.506,93
€ (Estimated)
Balance sheet latest sales (2010): 38.793.868,77 €
(Commercial Registry)
Result: 997.125,87 €
Total Assets: 16.141.384,94 €
Share capital: 18.030,00 €
Employees: 29
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 23/01/1991
Activity: Wholesale of fish,
NACE 2009 CODE: 4638
International Operations: Imports and
Exports
Corporate Structure
Administrator:
Other Complementary Information
Latest act published in BORME: 08/11/2011 Annual Filed Accounts
Bank Entities: There are
The date when this report was last updated is 12/04/2012.
The information contained in this report has been investigated and
contrasted on 29/02/2012
Financial Situation
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Exercise:2010 |
Evolution |
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Treasury |
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Very good |
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Indebtedness |
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Average |
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Profitability |
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Average |
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Balance |
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Excellent |
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Performance
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Incidents |
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None or Negligible |
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Business
Trajectory |
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Excellent |
Rating Explication
Financial Situation
•
The company’s financial situation is good.
•
The company’s financial situation evolution has
been positive.
•
The sales evolution and results has
been positive.
•
The auditor’s opinion about the latest accounts has
been favourable with reservations.
Company Structure
•
The company’s capitalization degree determines that
its structure is normal.
•
The company’s size is medium depending
on its sales volume.
•
The employees evolution has been positive.
Performance and Incidences
•
The available information indicates that the company
does not have payment incidences.
•
He have detected no recent legal actions or claims
from the Administration against this company
Accounts Filing
•
The company files regularly its accounts.
Reasons of the
last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
27/10/2011 |
Increase |
16 |
•
New financial statements have been uploaded. |
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY:
2 Company / Companies in Insolvency Proceedings.
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in €
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|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
318.417,42 |
1,97 |
268.473,91 |
2,57 |
307.498,65 |
2,36 |
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B) CURRENT ASSETS |
15.822.967,52 |
98,03 |
10.196.466,55 |
97,43 |
12.701.590,87 |
97,64 |
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LIABILITIES |
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A) NET WORTH |
3.417.895,15 |
21,17 |
2.420.769,28 |
23,13 |
1.919.335,38 |
14,75 |
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B) NON CURRENT LIABILITIES |
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C) CURRENT LIABILITIES |
12.723.489,79 |
78,83 |
8.044.171,18 |
76,87 |
11.089.754,14 |
85,25 |
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Balance Sheet
Comments
Total assets of the company grew in 54,24%
between 2.009 and 2.010.
This growth has been inferior in the case of the non current assets that
increased just in 18,60%.
This growth has been mainly financed with a debt increase
of 58,17%. Nevertheless Net Worth grew 41,19%.
Total assets of the company decreased in 19,56% between 2.008 and 2.009.
This total assets decrease has been reflected in a reduction of non
current assets of 12,69%.
Assets reduction contrasts with net worth growth
of 26,13%. Therefore, the company’s indebtedness has reduced
in 27,46%.
Profit and Loss
Account Analysis 
Figures given in €
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|
2011 |
31/12/2010 (12) |
% NET TURNOVER |
31/12/2009 (12) |
% NET TURNOVER |
|
SALES |
38.805.506,93 |
38.793.868,77 |
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33.220.314,35 |
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GROSS MARGIN |
|
3.826.653,70 |
9,86 |
3.316.367,71 |
9,98 |
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EBITDA |
|
1.728.506,31 |
4,46 |
1.246.652,89 |
3,75 |
|
EBIT |
|
1.651.225,85 |
4,26 |
1.168.635,99 |
3,52 |
|
NET RESULT |
|
997.125,87 |
2,57 |
711.433,90 |
2,14 |
|
EFFECTIVE TAX RATE (%) |
|
30,04 |
0,00 |
30,01 |
0,00 |
Profit and Loss Account
Comments
The company’s sales figure grew
in 16,78% between 2.009 and 2.010.
The company’s EBIT grew
in 41,30% between 2.009 and 2.010.
This evolution implies a reduction in the company’s economic
profitability .
The result of these variations is a decrease of the company’s Operating
Profitability of 9,69% in the analysed period, being this
profitability of 10,44% in the year 2.010.
The Net Result of the company grew
in 40,16% between 2.009 and 2.010.
The company’s Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 0,69% in the analysed period, being equal to 41,70% in
the year 2.010 .
The company’s sales figure decreased
in 6,27% between 2.008 and 2.009.
The company’s EBIT grew
in 27,71% between 2.008 and 2.009.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is an increase of the company’s Economic
Profitability of 57,28% in the analysed period, being equal
to 11,56% in the year 2.009.
The Net Result of the company grew
in 115,85% between 2.008 and 2.009.
The company’s Financial Profitability has been positively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the company’s Economic
Profitability of 68,91% in the analysed period, being equal
to 41,99% in the year 2.009 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2010) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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A) NON CURRENT ASSETS |
1,97 |
40,63 |
-38,65 |
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A) CURRENT ASSETS |
98,03 |
59,37 |
38,65 |
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LIABILITIES |
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A) NET WORTH |
21,17 |
35,35 |
-14,17 |
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B) NON CURRENT LIABILITIES |
|
18,59 |
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C) CURRENT LIABILITIES |
78,83 |
46,07 |
32,76 |
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COMPANY (2010) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
100,00 |
99,42 |
0,58 |
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GROSS MARGIN |
9,86 |
18,51 |
-8,64 |
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EBITDA |
4,46 |
4,63 |
-0,17 |
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EBIT |
4,26 |
2,86 |
1,40 |
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NET RESULT |
2,57 |
1,66 |
0,91 |
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Sector Composition
Compared sector (NACE 2009): 4638
Number of companies: 138
Size (sales figure): 7,000,000.00 - 40,000,000.00 Euros
Comments on the
sectorial comparative
Compared to its sector the assets of the companies show an
inferior proportion of non current assets. Specifically the difference with the
sector average is -38,65% .
In liabilities composition the company turns to on a smaller scale to
self financing, being the Net Worth proportion 14,17% inferior. As a
consequence, external financing sources are more used by the company
( 14,17% more than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 100,00% , an 0,58% higher than in the sector .
The company’s EBIT was positive and was 4,26% with regard to
the total ordinary income, 1,40% superior to the one of the sector .
The company’s capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,04 in comparison
with 0,03) .
The company’s net result was positive and equal to 2,57% with
regard to the total ordinary income, 0,91% superior to the one of the
sector .
The financial results and the tax impact have had a negative impact on
the net result of the company with a worse behaviour that the one of the sector
.
OTHER DATA FROM
THE ANNUAL FINANCIAL REPORT
Results
Distribution
Source: annual financial report 2010
Figures given in €
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss Account Balance |
997.125,87 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
997.125,87 |
|
Total of Amounts to be distributed |
997.125,87 |
Dividends |
0,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
997.125,87 |
Auditing
Source: filing of annual financial statement 2010
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: COMPTES I CONTROL AUDITORS S.L.
Auditing exceptions:
Las cuentas anuales se presentan con cifras comparativas
Por un lado la dinámica de las operaciones de venta de la Sociedad y al
volumen de las mismas, no queda evidencia del cuadre diario de las existencias,
lo que dificulta verificar las ventas de forma adecuada y por otro lado al no
existir notificación e inscripción registral en la Agencia de Protección de
Datos de fichero automatizado no cumple con lo dispuesto en la Ley Orgánica
15/1999, de 13 de diciembre; no obstante, hay que tener en cuenta que la
actividad desarrollada por la compañía quedaría ubicada dentro del nivel de
seguridad básico en la implementación de dicha norma
Auditing fees: 7.108,00 €
Facts subsequent
to the closing
Source: Annual financial report 2010
After the closure no relevant facts requiring their inclusion in the
annual accounts have taken place.
company ADDRESSES
Current Legal Seat
Address:
MERCADO MERCABARNA, ED FRIMERCAT 1 DESPACHO 11
08040
Previous Seat
Address:
CALLE LONGIT 16
08004
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
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Distribution of the administration board |
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Governing body : 2 members (latest change:
17/08/1998) Other Positions : 1 (latest change: 15/10/1997) Auditor : 1 (latest change: 29/12/2010) Operative Board Members : 7 (latest change: 29/02/2012) Non-current positions : 3 (latest change: 08/11/1999) |
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Main Board
members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
ADMINISTRATOR |
MIRAVET TEJEDOR, JORDI |
17/08/1998 |
|
ADMINISTRATOR |
TEJEDOR PUJOL, JUAN |
17/08/1998 |
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Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
COMPTES I CONTROL AUDITORS SL |
29/12/2010 |
There are 4 board members, directors and auditors registered
Board members remuneration
Source: Annual
financial report 2010
Board
members remuneration: 0,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
MIRAVET TEJEDOR, JORDI |
|
Financial Manager |
DELLA FERRER, ALFREDO |
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Human Resources Director |
DELLA FERRER, ALFREDO |
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Commercial Director |
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Purchases Director |
MIRAVET, JORDI |
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Exports Director |
MIRAVET TEJEDOR, JORDI |
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Imports Director |
MIRAVET TEJEDOR, JORDI |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PAPELL MORLANS NEUS |
|
25,00 |
OWN SOURCES |
29/02/2012 |
|
|
MIRVET PASTOR JOSE |
|
25,00 |
OWN SOURCES |
29/02/2012 |
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TEJEDOR PUJOL |
|
25,00 |
OWN SOURCES |
29/02/2012 |
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|
TEJEDOR PUJOL JUAN |
|
25,00 |
OWN SOURCES |
29/02/2012 |
There are 4 direct financial links through shareholders
registered
BUSINESS INFORMATION
Incorporation date: 23/01/1991
Establishment date: 01/01/1991
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity: Wholesale of fish,
NACE 2009 CODE: 4638
NACE 2009 Activity: Wholesale of other food, including fish,
crustaceans and molluscs
Business: COMPRA-VENTA PRODUCTOS ALIMENTICIOS, EN FRESCO,
CONGELADO, REFRIGERADO, DEPURADO. IMPORTACION Y EXPORTACION LOS MISMOS, Y SU
TRANSPORTE TERRESTRE Y CONGELACION, REFRIGERACION, DEPURACION Y CONSERVACION
TALES PRODUCTOS.
Latest employees figure: 29 (2012)
% of fixed employees: 93,10%
% of temporary employees: 6,90%
% of men: 74,07%
% of women: 25,93%
Employees
evolution
|
|
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|
Source: Annual financial report 2010
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
20 |
7 |
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 71%
Imports from: UNION EUROPEA Y OTROS PAISES
National Distribution: 29%
SALES
Export Percentage: 6%
Exports to: UNION EUROPEA Y OTROS PAISES
National Distribution: 94%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
CEDISCO CIA EUROPEA DIST CONG SA |
NO |
|
CONGELADOS ALTAMAR SA |
NO |
|
DIST Y COM PDOS Y MCOS TEMIR SA |
NO |
There are 3 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
CEDISCO CIA EUROPEA DIST CONG SA |
NO |
|
CONGELADOS ALTAMAR SA |
NO |
|
DIST Y COM PDOS Y MCOS TEMIR SA |
NO |
There are 3 Clients
•
El 100% de su cifra de negocio corresponde a
ventas.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
|
0005 |
C. FRANCESC LAYRET, 86-88 |
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0749 |
C. TRANSVERSAL 8, 13 |
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BANCO DE SABADELL, S.A. |
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BANCO ESPAÑOL DE CREDITO, S.A. |
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BANCO POPULAR |
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There are 16 bank entities registered
Discount facilities: 11
Credit policy: 18
Mortgage loan: 0
Loans with no real security: 0
|
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Entity:BANCO DE SABADELL, S.A. Debt type: Credit policy |
Granted limit:90.000,00 € Used limit:0,00 € Available limit:90.000,00
€ Source: Filed
Accounts (2010) |
|
|
|
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Entity:CAJA DE AHORROS Y PENSIONES DE Debt type: Credit policy |
Granted limit:90.000,00 € Used limit:0,00 € Available limit:90.000,00
€ Source: Filed
Accounts (2010) |
|
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|
Entity:BANCO SANTANDER, S.A. Debt type: Discount
facilities |
Granted limit:115.500,00 € Used limit:115.452,32 € Available limit:47,68 € Source: Filed
Accounts (2010) |
|
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|
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Entity:DEUTSCHE BANK, S.A.E. Debt type: Discount
facilities |
Granted limit:120.000,00 € Used limit:13.593,10 € Available limit:106.406,90
€ Source: Filed
Accounts (2010) |
|
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|
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Entity:CAJA DE AHORROS Y M.P. DE ZARAGOZA, ARAGON Y RIOJA Debt type: Discount
facilities |
Granted limit:150.000,00 € Used limit:130.636,07 € Available limit:19.363,93
€ Source: Filed
Accounts (2010) |
|
|
|
There are 29 bank operations registered
Brand name: ALTAMAR (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 04/10/2011
Brand name: ANTALIA (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 06/02/2004
Brand name: MANET IMPORT, S.L. (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 01/02/2002
There are 3 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 23/01/1991
Register town: Barcelona
Announcement number: 97794
Share capital: 18.030,36 €
Legal form: Limited Liability Company
Share capital: 18.030,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E.
(OFFICIAL GAZETTE OF
THE COMMERCIAL REGISTRY)
· Acts on activity: 0
· Acts on administrators: 17 (Last: 29/12/2010, first: 29/04/1991)
· Acts on capital: 0
· Acts on creation: 1 (Last: 29/04/1991)
· Acts on filed accounts: 20 (Last: 08/11/2011, first: 13/10/1992)
· Acts on identification: 0
· Acts on Information: 2 (Last: 06/02/2002, first: 17/08/1998)
Latest acts in
B.O.R.M.E.
Most relevant acts of the last twelve months
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Annual Filed Accounts (2010) |
08/11/2011 |
908944 |
Barcelona |
Other acts
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Appointments |
29/12/2010 |
482946 |
Barcelona |
|
Annual Filed Accounts (2009) |
29/10/2010 |
930039 |
Barcelona |
|
Appointments |
08/01/2010 |
5955 |
Barcelona |
|
Annual Filed Accounts (2008) |
26/10/2009 |
742166 |
Barcelona |
|
Appointments |
04/12/2008 |
558263 |
Barcelona |
|
Annual Filed Accounts (2007) |
30/10/2008 |
1018781 |
Barcelona |
|
Appointments |
10/12/2007 |
613126 |
Barcelona |
|
Annual Filed Accounts (2006) |
19/09/2007 |
563516 |
Barcelona |
|
Appointments |
11/01/2007 |
18669 |
Barcelona |
There are 40 acts registered
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.48 |
|
UK Pound |
1 |
Rs.84.65 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.