MIRA INFORM REPORT

 

 

Report Date :

01.08.2012

 

IDENTIFICATION DETAILS

 

Name :

SIDERINA S.A.

 

 

Registered Office :

Koropiou - Agias Marinas Ave (1st Km), No. 17 19400 Koropi, Attiki

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.01.1991

 

 

Com. Reg. No.:

023871   

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

 
Wholesales homefurnishings

 

 

No. of Employees :

20

 

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 :

Unknown

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Greece

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

IDENTIFICATION DETAILS

                       

NAME:                    SIDERINA S.A.

ADDRESS:              KOROPIOU - AGIAS MARINAS AVE (1ST KM), NO. 17            

                               19400 KOROPI                                             

                               ATTIKI                                                   

                               GREECE                                                   

 

TELEPHONE:          30  2102771000                                           

                    30  2102770440                                           

                    30  2102796557                                           

TELEFAX:                30  2102796898                                           

E-MAIL ADDRESS: info@siderina.gr                                          

WEB ADDRESS:     www.siderina.gr                                            

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

 

 

SENIOR COMPANY PERSONNEL

 

Periklis Dimas
member
 
George Elias Mantzoukas
member
shareholder
 
Efstratios Elias Mantzoukas
member
shareholder
 
Elias George Mantzoukas
chief executive
shareholder
 
Elias George Mantzoukas
chairman
shareholder

 

 

WORKFORCE

 

EMPLOYS: 20 as at Jul 30, 2012 including 0 part-time staff.
The number of employees varies according to needs.
The number of employees peaks to 20.

 

PAYMENTS

 

A check against all available information sources revealed that no late payment incidents against Subject Company exist.

 

 

BANKERS

 
National Bank of Greece S.A., Nea Ionia Branch branch., 243 Irakleiou
Ave & 2 Ag. Vassileiou, Nea Ionia 14231, Greece.
Telephone: 30 2102777014
 
EFG EUROBANK ERGASIAS S.A., Athinon - Lamias National Rd B branch.,
Athinon - Lamias National Rd (20th klm), Agios Stefanos 14565, Greece.
Telephone: 30 2108136146
Bank of Piraeus S.A., Metamorfossi Branch branch., 44 G. Papandreou &
Nikis, Metamorfossi 14452, Greece.
Telephone: 30 2102801680
 
Probank S.A., N. Irakleio Branch branch., 50 Ifigeneias & Velissariou, Irakleio 14122, Greece.
Telephone: 30 2102856900
Citibank International Plc, Koropi Branch branch., 49 Vas.
 
Konstantinou, Koropi 19400, Greece.
Telephone: 30 2106620110
 

 

FINANCIALS

 

SALES:                      2,028,524

PROFIT:                     -200,485

NET WORTH:                  1,794,443

 

FINANCES 
                            Fiscal           Fiscal          Fiscal
                         Dec 31,2009      Dec 31,2010     Dec 31,2011
Turnover                   3,118,160        2,396,401       2,028,524
Pre-Tax Profit                39,602            6,289        -200,484
Net Worth                  1,717,194        2,000,214       1,794,443
Fixed Assets               1,618,366        1,456,201       1,284,680
Total Assets               5,657,250        5,269,456       4,951,993
Current Assets             4,020,673        3,792,631       3,650,996
Current Liabilities        2,520,487        1,963,292       2,071,890
Working Capital            1,500,186        1,829,339       1,579,106
Long Term Debt             1,419,570        1,305,950       1,085,660
Financial Assets               7,702            7,702           7,702
Intangibles                   10,509           12,923           8,617
Employees                                          22              22
 
Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets. 
 
RATIOS  
                         Dec 31,2009      Dec 31,2010     Dec 31,2011
Current Ratio (X)               1.60             1.93            1.76
Solvency Ratio (%)            329.45           263.44          275.96
Fixed Assets/Net Worth (%)     94.24            72.80           71.59
Current Liabs/Net Worth (%)   146.78            98.15          115.46
Asset Turnover (%)             55.12            45.48           40.96
Sales / Net Working Cap (X)     2.08             1.31            1.28
Assets / Sales (%)            181.43           219.89          244.12
Profit Margin (%)               1.27             0.26           -9.88
S/holders Return (%)            2.31             0.31          -11.17
Return On Assets (%)            0.70             0.12           -4.05
Sales / Employees               0.00       108,927.32       92,205.64
Profit / Employees              0.00           285.86       -9,112.91
 
     Abstract from individual fiscal balance sheet as at Dec 31, 2011 
 
             LIABILITIES                             ASSETS                        
Capital                      1,804,747   Land/Buildings     2,550,707
Retained Profits               -51,527   Depreciation       1,266,027
Misc Reserves                   41,223   Total Fixed Ass    1,284,680
Net Worth                    1,794,443                     
                                         Misc Fin'cl Ass        7,702
Misc Def Liabs               1,085,660   Total Fin'cl Ass       7,702
 
                                         Misc Intangible        8,617
                                         Total Intangible       8,617
 
     CURRENT LIABILITIES:                         CURRENT ASSETS:               
Trade Creditors                507,534   Stock              1,301,272
Short term Loans             1,350,466   Trade Debtors      2,163,530
Misc Current Liabs             213,891   Cash                 186,193
 
TOTAL CURRENT                2,071,891   TOTAL CURRENT      3,650,995
 
TOTAL LIABS & NW             4,951,994   TOTAL ASSETS       4,951,994
 
             Profit & Loss Account from Jan 1, 2011 to Dec 31, 2011                
 
             Net Sales                             2,028,524
             Cost of Goods Sold                    1,509,724
 
             Gross Profit                            518,800
             Misc Operating Charges                  611,771
             Misc Operating Income                    17,661
 
             Net Operating Income                    -75,310
             Misc Financial Income                     7,919
             Total Financial Income                    7,919
 
             Interest Payable                        125,115
             Misc Financial Expenses                   7,979
             Total Financial Expenses                133,094
 
             Profit Before Taxes                    -200,485
 
             Profit After Tax                       -200,485
 
             Net Loss                                200,485

 

 

LEGAL STATUS

 

STARTED:    1991                       

YEAR INC:   1991              

LEGAL FORM: SOCIETE ANONYME  

REG NO:     023871   

GOVT GAZ NO: 00826 / 1991                    

REGISTERED OFFICE: At heading address. 
 
LEGAL FORM
Societe anonyme registered on Jan 1, 1991 for a period ending Dec 31, 2041.
Registration Number: 023871
Government Gazette Number: 00826 / 1991
Tax Registration Number: 094324123
 
Established in Nea Ionia, Attiki, in March 1991. In 1994 subject took over the business activities of the firm SIDERINA CARPETING LTD. On 29/8/2008 (Gov. Gaz. No. 09987/2008) a change of subject's head office was published.

 

 

CAPITAL DETAILS

 

NOM CAPITAL:                1,804,746
ISS CAPITAL:                1,804,746

 

Issued/paid-up capital was last increased on Sep 10, 2010.

Nominal capital is divided into:
448,942 shares of 4.02 each and fully paid-up.

 

 

SHAREHOLDERS

 
George Mantzoukas holds 33.76% of the voting capital.
Efstratios Mantzoukas holds 33.76% of the voting capital.
Eleni Mantzouka holds 29.87% of the voting capital.
Elias Mantzoukas holds 2.60% of the voting capital.

 

 

LINKED COMPANIES

 

AFFILIATES
The following are related through principal(s) and/or financial
interest(s):
WEB COMMUNICATIONS LTD Limited Liability Company, Nea Ionia, Greece
This is a dormant concern.
Year started: 1998.
This concern is related through common shareholders.
MANTZOUKA ELENI Sole Proprietorship, Athens, Greece 
This is a dormant concern.
Year started: 1986.
This concern is related through common shareholders.

 

 

ACTIVITIES

 

SIC:                  5023 5131   

ACTIVITY:         WHOLESALES HOMEFURNISHINGS

 

Local Activity Code:          4647
Local Activity Code Type:     STAKOD
Equivalent to:                NACE 1
 
Wholesales homefurnishings
Wholesales piece goods and notions

 

Subject reportedly acts as agents for:
Universal, Spain
Atlantic, Turkey

 

 

IMPORTS

 

Representations, exclusive imports and trade of carpets, moquettes, mats, throws, laminate floorings and photovoltaic systems.

 

Cleaning and safekeeping of carpets , Subject distributes its goods mainly by wholesale, including:
Imports 98% from Belgium, France, Germany, India, Netherlands, Pakistan, Spain, Turkey
Normal importing terms are cash against documents
    

EXPORTS

 

Subject does not export.

 

 

PREMISES / REAL ESTATE

 

Operates from owned office, covering approximately 2,000 square metres at heading address.
 
The site covers approximately 10,000 square metres.

 

 

BRANCHES

 

Subject has 3 branches/divisions
177 Irakleiou Ave, 14231, Nea Ionia, Greece.
 
110-114 Vosporou, 14235, Nea Ionia, Greece. These are rented office
premises. Size: 1000 square metres.
 
58 Andr. Papandreou, 15232, Halandri, Greece.

  

 

GENERAL COMMENTS 

 

BACKGROUND
Business started Jan 1, 1991.
Subject moved from 110-114 Vosporou, 14235 Nea Ionia Attiki on Sep 22, 2008.

 

Subject is a long established family-run firm. Its main sector of
business activities is the commercial, which covers 85-90% approximately of its total turnover. Finally it is noted that since 04.07.2011 subject is engaged in imports and trade of photovoltaic systems, fact that contributes in its sales in 2011.
 

Please note that the information provided in the report was obtained from official sources.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.81

UK Pound

1

Rs.87.67

Euro

1

Rs.68.45

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.