|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
COCA-COLA AMATIL (N.Z.) LIMITED |
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Registered Office : |
The Oasis, Carbine Road, Mount Wellington, Auckland 1060 |
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Country : |
New Zealand |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.08.1948 |
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|
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Com. Reg. No.: |
46860 |
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Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacturing, distribution and marketing of soft drinks |
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No. of Employees : |
1,100 |
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 : |
Good |
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Payment Behaviour : |
No complaints |
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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) |
|
New Zealand |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject
name : COCA-COLA AMATIL (N.Z.) LIMITED
Business
address : The Oasis, Carbine Road
Town :
Mount Wellington
Province
: Auckland
Zip/postal
code : 1060
Country
: New Zealand
Tel :
+64 9 5703000
Fax :
+64 9 5703039
Website
: www.coke.co.nz
Registered
address : The Oasis, Carbine Road
Town :
Mount Wellington
Province
: Auckland
Zip/postal
code : 1060
Country
: New Zealand
Postal
address : Private Bag 14916
Town :
Panmure
Province
: Auckland
Zip/postal
code : 1741
Country
: New Zealand
Executive Summary
Date
founded or registered : 27/08/1948
Legal
form : Private Limited Company
Chief
executive : Thomas Harold George Adams
Issued
& paid up capital : NZD 15,000,000
Sales
turnover : NZD 492,885,000 (Non-consolidated 12 months, 31/12/2009)
Net
income : NZD 57,333,000 (Non-consolidated 12 months, 31/12/2009)
Total
fixed assets : NZD 699,107,000 (Non-consolidated 12 months, 31/12/2009)
Line
of business : Manufacturing, distribution and marketing of soft drinks, diet
drinks, juices and
fruit
drinks, cordials, waters, sports drinks, and energy drinks.
Staff
employed : 1,100 employees (Subject); 15,666 employees (Amatil Group)
Country
risk : Country risk is minimal
Operation
trend : Operational trend is progressing
Management
experience : Management is adequately experienced
Financial
performance : Financial performance is very good
Organization
structure : Organizational structure is stable
Detrimental
: No detrimental records found
Payment
history : No payment delays noted
Registry Data
Registration
date : 27/08/1948
Legal
form :
Private Limited Company
Registration
no 46860
Registered
authority : New Zealand
Companies Office
Registry
status : Live/Active
Previous
name : CCA
BEVERAGES N.Z. LIMITED (until 29 August 1994)
OASIS
INDUSTRIES LIMITED (until 12 December 1990)
INNES
INDUSTRIES LIMITED (until 05 September 1973)
Change
of legal form : None
reported.
Key Management
Name :
Thomas Harold
George Adams
Designation
: Managing Director
Name :
Bruce McEwen
Designation
: Chief Financial Officer
Name :
Alexandra
Caroline Beaumont
Designation
: Director
Name :
Chris Litchfield
Designation
: General Manager, Sales
& Customer Service
Name :
John Truscott
Designation
: General Manager,
Operations & Logistics
Appointments
Name :
Thomas Harold
George Adams
Designation
: Director
Appointment
date : 28/11/03
Address
: 9 Manawa Road
Remuera, Auckland 1050
New Zealand
Name :
Alexandra
Caroline Beaumont
Designation
: Director
Appointment
date : 20/02/09
Address
: 109 Bassett Road
Remuera, Auckland 1050
New Zealand
Name :
Terry James Davis
Designation
: Director
Appointment
date : 26/04/02
Address
: 353 Edinburgh Road
Castlecrag, NSW 2068
Australia
Biography : Born
on 13-11-1957 in Orange, New South Wales, Australia. Mr. Terry James Davis is
Group Managing Director and Executive Director of Coca-Cola Amatil Ltd. He
joined the Company in November 2001 as Group Managing Director after 14 years
in the global wine industry with most recent appointment as Managing Director
of Beringer Blass (the wine division of Foster's Group Ltd). He is also
Director of Seven Group Holdings Limited and was Director of St. George Bank
Limited until December 2008. He acts as Council Member of the University of New
South Wales Council.
Staff
employed : 1,100 employees
(Subject); 15,666 employees (Amatil Group)
Key Advisors
Auditors
: ERNST & YOUNG
Ernst & Young Building
2 Takutai Square
Britomart
Auckland 1010
New Zealand
Composition
Authorized
Capital : NZD
15,000,000
No of
shares : 15,000,000
Ordinary Shares
Share
par value : NZD 1
Issued
capital : NZD
15,000,000
Paid
up capital : NZD
15,000,000
How
listed : Full
List
Composition
Shareholder
name : COCA-COLA
HOLDINGS NZ LIMITED
Address
: The
Oasis, Carbine Road
Mount Wellington, Auckland 1060
New Zealand
No. of
shares : 15,000,000
Ordinary Shares
% of
shares : 100%
Structure
Name :
COCA-COLA AMATIL
LIMITED
Affiliation
type : Ultimate Holding
Company
Address
: Level 14, 40 Mount
Street
North Sydney, NSW 2060
Australia
Comments
: Coca-Cola Amatil Limited, together with its subsidiaries, engages in the manufacture,
distribution, and marketing of carbonated soft drinks, sports and energy
drinks, still and mineral waters, flavoured milk, fruit juices, coffee, and other
alcohol-free beverages. The company also involves in processing and marketing
fruit, vegetables, and other food products, as well as manufactures and/or
distributes premium beer and spirits. It operates primarily in Australia, New Zealand,
Fiji, Indonesia, and Papua New Guinea. The company was formerly known as Amatil
Limited and changed its name to Coca-Cola Amatil Limited in 1989. Coca-Cola
Amatil Limited was founded in 1904 and is based in North
Sydney,
Australia.
Name :
COCA-COLA
HOLDINGS NZ LIMITED
Affiliation
type : Parent
Company
Address
: The
Oasis, Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Name :
AMATIL
BEVERAGES (NEW ZEALAND) LIMITED
Affiliation
type : Wholly-owned
Subsidiary
Address
: The
Oasis, Carbine Road
Mount Wellington, Auckland 1060
New Zealand
Comments
: Dormant
company.
Name :
BAYMAR
PTY LTD
Affiliation
type : Sister
Company
Address
: Level
14, 40 Mount Street
North Sydney, NSW 2060
Australia
Name :
COCA-COLA
AMATIL (AUST) PTY LTD
Affiliation
type : Sister
Company
Address
: Level
14, 40 Mount Street
North Sydney, NSW 2060
Australia
Name :
BEVERAGE
BOTTLERS (NQ) PTY LTD
Affiliation
type : Sister
Company
Address
: Ingham
Road
Townsville, QLD 4810
Australia
Name :
CAN
RECYCLING (S.A.) PTY LTD
Affiliation
type : Sister
Company
Address
: 16A
Duncan Court
Ottoway, SA 5031
Australia
Name :
COCA-COLA
AMATIL (HOLDINGS) PTY LIMITED
Affiliation
type : Sister
Company
Address
: Level
15, 71 Macquarie Street
Sydney, NSW 2000
Australia
Name :
CRUSTA
FRUIT JUICES PROPRIETARY LIMITED
Affiliation
type : Sister
Company
Address
: 17
Duncan Road
Dry Creek, SA 5094
Australia
Name :
QUIRKS
AUSTRALIA PTY LTD
Affiliation
type : Sister
Company
Address
: 198
Power Street
Glendenning, NSW 2761
Australia
Related
companies and corporate
affiliations
comments
:
Other companies of the Coca-Cola Amatil Limited should be considered affiliates
of the
Subject.
Bank Details
Name
of bank : Australia
And New Zealand Banking Group Limited
Address
: New
Zealand
Account
details : Current
Account
Name
of bank : Bank of
New Zealand
Address
: New
Zealand
Account
details : Current
Account
Comments
: It is generally not the policy of local banks to provide credit status
information to
non
related parties, however interested parties would be advised to consult first
with
the Subject if banker's references are required.
Mortgages
: None
reported.
Legal Fillings
Bankruptcy
fillings : None
reported.
Court
judgements : None
reported.
Tax
liens : None
reported.
Others
: None
reported.
Description
Source
of financial statement : Commercial
Registry Filings
Financial
statement date : 31/12/09
Type
of accounts : Full
audited
Currency
: New
Zealand, Dollar (NZD)
Exchange
rate : 1
USD = NZD 1.23 as of 01-08-2012
Summarized Financial Information
Consolidation
type : Non Consolidated Non Consolidated Group Consolidated
Currency
: New Zealand, New Zealand Australia Dollar (AUD)
Dollar (NZD), Dollar
(NZD)
Denomination
: (x1) One (x1) One (x1) One
Date
of financial year end : 31/12/09 31/12/08
31/12/11
Length
of accounts : 12 months 12 months 12 months
Sale
turnover / Income : 492,885,000 488,372,000
4,856,100,000
Gross
profit : 152,755,000 150,902,000
Operating
profit : 870,500,000
Profit
before tax : 80,980,000 72,708,000 742,700,000
Net
income : 57,333,000 49,806,000 591,800,000
Non
current assets : 454,964,000 439,979,000 3,384,700,000
Current
assets : 244,143,000 237,772,000 2,644,300,000
Inventories
: 65,279,000 64,581,000 752,400,000
Total
assets : 699,107,000 677,751,000 6,029,000,000
Current
liabilities : 290,302,000 106,892,000 1,388,400,000
Non
current liabilities : 53,299,000 274,177,000 2,606,300,000
Total
liabilities : 343,601,000 381,069,000 3,994,700,000
Share
equity : 355,506,000 296,682,000 2,034,300,000
Reserve
: -4,476,000 -5,993,000 -91,500,000
Retained
earning : 344,249,000 286,916,000 -75,900,000
Comments
: The non-consolidated financial information above relates to the Subject only.
The
Subject's
latest financial information is not available at the registry.
The
group’s consolidated financial information above relates to the Subject’s
Ultimate
Holding Company Coca-Cola Amatil Limited and all its subsidiaries
which
include the Subject.
Main activities : The
Subject is engaged in manufacturing, distribution and marketing of soft drinks,
diet drinks, juices and fruit drinks, cordials, waters, sports drinks, and
energy drinks.
The Subject is the authorised bottler which manufactures and
distributes the brands of The Coca-Cola Company, as well as owning brands such
as
Pump, L&P and Deep Spring.
The Subject is part of Coca-Cola Amatil Limited (CCA) which manufactures,
distributes and markets carbonated soft drinks, still and mineral waters, fruit
juices, coffee and other alcohol-free beverages. The Company is also engaged in
the processing and marketing of fruit, vegetables and other food products and
the manufacture and/or distribution of beer brands and the spirit portfolio of
global distributor Beam Global Spirits & Wines, by Pacific Beverages Pty
Ltd: a joint venture entity between CCA and SABMiller plc. CCA’s principal
operations are in Australia, New Zealand, Fiji, Indonesia and Papua New Guinea
(PNG).
Brand
: Coca-Cola,
Vanilla Coke, Diet Coke, Coke Zero, Fanta, Sprite, Schweppes,
Keri Juice Co, Thextons, E2, Kiwi Blue , Powerade, Mother,
Roses, Lift,
Lift Plus, Glaceau.
Pump, Pumped, Baker Hall, L&P, Deep Spring.
Purchases
International
: Asia, United States
Sales
Local
: Yes
International
: Pacific Island
Key
events : October 11, 2011
Coca-Cola Amatil investment to revolutionize manufacturing
for Australasia
Coca-Cola Amatil Australasia (CCAA) has invested A$35
Million in new
“blowfill” technology at its Thebarton production facility
in Adelaide, enabling the company to design and manufacture its own bottles
using less raw materials.
CCAA’s Managing Director, Warwick White, described the new
technology as the single largest capital investment in the company’s history,
adding that it will fundamentally change the nature of manufacturing in the business.
He said, “The introduction of this technology has enabled us to redesign and
lightweight our entire small carbonated soft drink and water bottle range. With
innovation comes benefits which, in this case, are good for CCA, our customers
and the communities we operate in. They include significant cost savings,
production efficiency gains, increased product shelf life and stacking
ability.” At a Group level, CCAA says it is committed to spending approximately
A$450 Million to install “blowfill” technology at all of the Company’s production
facilities in Australia, New Zealand, Indonesia, Papua New Guinea and Fiji. Mr
White said that “blowfill” technology is capable of meeting the environmental
goals set by CCA in both energy and water savings and is expected to reduce the
carbon footprint of the company’s beverage containers by over 20%. He said a
significant portion of these savings will come from bottle redesigns that use
less PET resin, with others from the elimination of the need to transport empty
bottles to CCA bottling facilities, and energy savings on the line. “This investment
continues our lightweighting journey – a journey which has already seen CCA
achieve a 20% increase in packaging raw material efficiency since 2004,” Mr
White said. CCAA’s Thebarton facility produces the full CCA range of beverages including
brands under licence from The Coca-Cola Company (including Coca-Cola, Coca-Cola
Zero, diet Coke, Sprite, Fanta, Powerade Isotonic), along with Coca-Cola
Amatil-owned brands. The Thebarton facility currently produces approximately
110 million PET bottles a year. 20 June 2011 Coca-Cola Amatil Limited Amends
SABMiller plc JV, Paves Way For Foster's Group Limited Bid-DJ Dow Jones
reported that Coca-Cola Amatil Limited and SABMiller plc are amending the terms
of their joint venture (JV) amid a bid for the South African listed brewer to
bid for Foster's Group Limited. Coca-Cola Amatil said in a statement its
arrangement surrounding its existing joint venture, Pacific Beverages, limit
SAB Miller's ability to buy shares in Foster's in its own right. Under the
changes to the JV, if SAB Miller makes an offer for Foster's within five years
and acquires at least 50.01% of the company, SAB Miller is entitled to acquire
Coca-Cola Amatil's interest in Pacific Beverages and Coca-Cola Amatil will have
the right to take over parts of
Foster's business.
Property & Assets
Premises
: The Subject operates from head office located at the verified heading
address
consisting of administrative office.
Branches
: In addition, the Subject operates from production facilities located at
Auckland,
Christchurch and Putaruru.
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of New Zealand
Reserve
of foreign exchange & gold : US$
20.562 billion
Gross
domestic product - GDP : US$
153.252 billion
GPP
(Purchasing power parity) : 120.2
billion of International dollars
GDP
per capita - current prices : US$
34,701
GDP -
composition by sector : agriculture:
4.6%
industry: 23.7%
services: 71.7%
Inflation
: 2008:
4%
2009: 2.1%
2010: 2.3%
Unemployment
rate : 2008:
4.2%
2009: 6.2%
2010: 6.5%
Public
debt
(General
Government gross debt as
a %
GDP)
: 2008: 20.4%
2009: 26.1%
2010: 31.6%
Government
bond ratings : Standard
& Poor's: AA+/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market
value of publicly traded
shares
: US$ 67.061 billion
Largest
companies in the country : Telecom
of New Zealand, Transpower, Fletcher Building, Infratil
Trade & Competitiveness Overview
Total
exports : US$29.53
billion
Exports
commodities : dairy
products, meat, wood and wood products, fish, machinery
Total
imports : US$31.11
billion
Imports commodities : machinery
and equipment, vehicles and aircraft, petroleum, electronics,textiles, plastics
Export
- major partners : Australia
22%, US 11.5%, Japan 9.2%, China 5.3%, UK 4.6%
Import - major partners : Australia
20.7%, China 13.4%, US 9.7%, Japan 9.5%, Singapore 4.9%, Germany 4.7%
FDI
Inflows : 2008:
US$4,598 million
2009: US$-1,293 million
2010: US$561 million
FDI
Outflows : 2008:
US$462 million
2009: US$-308 million
2010: US$589 million
Best
countries for doing business : 3
out of 183 countries
Global
competitiveness ranking : 23
(ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total
population : 4.37
million
Total
area : 270,467
km2
Capital
: Wellington
Currency
: New
Zealand dollars (NZD)
Internet
users as % of total
population
: 83%
Purchase Term
Local
: Prepayment,
D/P, Bank transfer, Credit 30-90 days
International
: L/C, Prepayment, D/P,
Telegraphic transfer, Credit 30-90 days
Sales Term
Local
: Prepayment,
D/P, Bank transfer, Credit 30-90 days
International
: L/C, Prepayment, D/P,
Telegraphic transfer, Credit 30-90 days
Trade Reference/ Payment
Behaviour
Comments
: As local and
international trade references were not supplied, the Subject's
payment
track record history cannot be appropriately determined but based
on our
research, payments are believed to be met without delay.
Investigation
Note
Sources
: Interviews and material provided by the Subject
:
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.77 |
|
|
1 |
Rs.86.74 |
|
Euro |
1 |
Rs.68.31 |
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.