MIRA INFORM REPORT

 

 

Report Date :

14.08.2012

 

IDENTIFICATION DETAILS

 

Name :

EUROBEND S.A.

 

 

Registered Office :

350 Tatoiou Ave, 13677 Acharnes, Attiki

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.01.1996

 

 

Com. Reg. No.:

035171

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Manufacturer of construction machinery

 

 

No. of Employees :

50

 

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 :

Slow but 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, 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

 

 

COMPANY NAME

 

EUROBEND S.A.

 

 

IDENTIFICATION DETAILS

                       

ADDRESS:              350 TATOIOU AVE                                           

                               13677 ACHARNES                                           

                               ATTIKI                                                   

                               GREECE                                                    

 

TELEPHONE:                         30  2108077775                                           

TELEFAX:                30  2106206567                                           

E-MAIL ADDRESS:  eurobend@otenet.gr                                       

WEB ADDRESS:       www.eurobend.com                                          

 

 

SENIOR COMPANY PERSONNEL

 

Konstantinos Athanassiadis

member

 

Issavella Protopappa

chairman

shareholder

 

Nikolaos Petrakis

member

shareholder

 

Issavella Protopappa

chief executive

shareholder

 

 

 

WORKFORCE

 

EMPLOYS: 50 as at Jul 29, 2011 including

 

The number of employees varies according to needs.


PAYMENTS

 

Informants report that subject's payments are prompt

 

 

BANKERS

 

National Bank of Greece S.A., Menidi Branch branch., 4 Salaminos,

Acharnes 13671, Greece.

Telephone: 30 2102404500

 

ATEBANK S.A., Head Office branch., 4 Panepistimiou & Kriezotou, Athens 10671, Greece.

Telephone: 30 2103697593

 

Unicredit Bank A.G., Head Office branch., 7 Irakleitou, Athens 10673,Greece.

Telephone: 30 2103640940

 

 

 

 

 

FINANCIALS

 

                              Fiscal           Fiscal          Fiscal

                         Dec 31,2008      Dec 31,2009     Dec 31,2010

Turnover                   9,701,612        6,196,969       3,805,655

Pre-Tax Profit               402,163          740,765          90,751

Net Worth                  1,335,128        2,016,912       1,925,340

Fixed Assets                 761,731        1,009,614       1,145,967

Total Assets               5,895,157        4,164,034       4,864,638

Current Assets             5,092,655        3,113,210       3,679,457

Current Liabilities        4,500,030        2,087,122       2,879,298

Working Capital              592,625        1,026,088         800,159

Long Term Debt                60,000           60,000          60,000

Financial Assets              36,898           36,898          36,546

Intangibles                    3,874            4,310           2,668

Employees                                          54              54

 

Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets.

 

+--------+

| RATIOS |

+--------+

                        Dec 31,2008      Dec 31,2009     Dec 31,2010

Current Ratio (X)             1.13             1.49            1.28

Solvency Ratio (%)          441.54           206.46          252.66

Fixed Assets/Net Worth (%)   57.05            50.06           59.52

Current Liabs/Net Worth (%) 337.05           103.48          149.55

Asset Turnover (%)          164.57           148.82           78.23

Sales / Net Working Cap (X)  16.37             6.04            4.76

Assets / Sales (%)           60.76            67.19          127.83

Profit Margin (%)             4.15            11.95            2.38

S/holders Return (%)         30.12            36.73            4.71

Return On Assets (%)          6.82            17.79            1.87

Sales / Employees             0.00       114,758.69       70,475.09

Profit / Employees            0.00        13,717.87        1,680.57

 

     Abstract from individual fiscal balance sheet as at Dec 31, 2010

 

             LIABILITIES                             ASSETS                       

Capital            300,000   Land/Buildings               1,433,302

Retained Profits   906,882   Plant/Machinery                143,640

Misc Reserves      718,458   Depreciation                   430,975

Net Worth        1,925,340   Total Fixed Ass              1,145,967

 

Misc Provisions     60,000   Misc Fin'cl Ass                 36,546

Total Fin'cl Ass                36,546

 

Misc Intangible                  2,668

Total Intangible                 2,668

 

     CURRENT LIABILITIES:                         CURRENT ASSETS:              

Trade Creditors    1,072,236   Stock                          835,755

Short term Loans               456,683   Trade Debtors                1,926,275

Misc Current Liabs 1,350,380   Cash                           917,428

 

TOTAL CURRENT      2,879,299   TOTAL CURRENT                3,679,458

 

TOTAL LIABS & NW   4,864,639   TOTAL ASSETS                 4,864,639

 

             Profit & Loss Account from Jan 1, 2010 to Dec 31, 2010               

 

             Net Sales                             3,805,655

             Cost of Goods Sold                    2,261,626

 

             Gross Profit                          1,544,029

             Misc Operating Charges                1,421,967

             Misc Operating Income                     2,352

 

             Net Operating Income                    124,414

             Misc Financial Income                       262

             Total Financial Income                      262

 

             Interest Payable                         26,934

             Misc Financial Expenses                   6,993

             Total Financial Expenses                 33,927

 

             Profit Before Taxes                      90,749

             Income Tax                               29,674

 

             Profit After Tax                         61,075

 

             Net Profit                               61,075

    

     According to the balance sheet as of Dec 31, 2010.

    

     The below mentioned financial figures are in Euro

 

 

LEGAL STATUS

 

 

BACKGROUND

Business started Jan 1, 1996.

 

Subject moved from 362 Tatoiou Ave, 13677 Acharnes Attiki on Mar 1, 2010.

    

LEGAL FORM

Societe anonyme registered on Jan 1, 1996 for a period ending Dec 31, 2095.

Registration Number: 035171

Government Gazette Number: 00852 / 1996

Chamber of Commerce Number: 116326

Tax Registration Number: 094420829

Established in Acharnes, on 22.02.96

 

 

 

 

 

CAPITAL DETAILS

 

Nominal capital: 300,000. Issued capital: 300,000.

Issued/paid-up capital was last increased on Jan 29, 2003.

    

Nominal capital is divided into:

10,000 shares of 30 each and fully paid-up.

 

 

SHAREHOLDERS

 

Issavella Protopappa holds 80.00% of the voting capital.

Nikolaos Petrakis holds 15.00% of the voting capital.

Michail-Angelos Varelas holds 5.00% of the voting capital.

 

 

 

LINKED COMPANIES

 

AFFILIATES

     The following are related through principal(s) and/or financial

     interest(s):

     ERGON S.A. Societe Anonyme, Tavros, Greece

     This is a dormant concern.

     Year started: 1991.

     This concern is related through common shareholders.

 

 

ACTIVITIES

 

Local Activity Code:                 2892                                          

Local Activity Code Type:         STAKOD                                         

Equivalent to:                          NACE 1                                        

    

Manufactures construction machinery

Manufactures mining machinery

Mfg of wire drawing, concrete reinforcing iron and pipe processing, machinery , Subject disposes its commodities in abroad.

 

 

 

IMPORTS

 

Imports 50% from France, Germany, Italy, U K

Normal importing terms are cash against documents

 

 

EXPORTS

 

Exports 95%

Normal exporting terms are cash against documents

 

 

 

PREMISES / REAL ESTATE

 

Operates from owned workshop, at heading address.:

350 TATOIOU AVE                                          

13677 ACHARNES                                           

ATTIKI                                                                       

GREECE

          

                                                           

GENERAL COMMENTS 

 

No other information is available for the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.42

UK Pound

1

Rs.86.78

Euro

1

Rs.68.03

 

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.