MIRA INFORM REPORT
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Report Date : |
22.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SFERA JOVEN SA |
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Registered Office : |
Cl. Hermosilla, 112, Madrid, 28009 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2001 |
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Com. Reg. No.: |
A83036137 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Women's, Men's & Childrens' Apparel Stores |
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No. of Employees : |
1,815 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
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Spain |
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 & address
Sfera Joven Sa
Cl. Hermosilla, 112
Madrid, 28009
Spain
Tel: +(34) 901122122
Fax: 34 917 748 311
Web: www.sfera.com
Synthesis
Employees: 1,815
Company Type: Public Subsidiary
Corporate Family: 26
Companies
Ultimate Parent: El
Corte Ingles Sa
Incorporation Date: 2001
Auditor: Deloitte Sl
Financials in: USD
(Millions)
Fiscal Year End:
25-Apr-2012
Reporting Currency: Euro
Annual Sales: 251.7
1
Net Income: 0.0
Total Assets: 218.8
Business Description
Women's, Men's & Childrens' Apparel Stores
Industry
Industry Retail (Apparel)
ANZSIC 2006: 4251 - Clothing
Retailing
NACE 2002: 5242 - Retail sale
of clothing
NAICS 2002: 448120 - Women's Clothing
Stores
UK SIC 2003: 52423 - Retail
sale of other women's clothing
US SIC 1987: 5621 - Women's
Clothing Stores
Key Executives
|
Name |
Title |
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Garcia Poveda Agustin |
Managing Director |
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Santos Navas |
Director Comercial y Director de Marketing |
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Juan Hermoso Armada |
Joint Manager, Joint Attorney |
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Francisco Jose Antunez Carrasco |
Joint Attorney |
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Fernando Valero |
Director de Recursos Humanos |
Registered
No.(ESP): A83036137
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7313498
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7577249
Corporate Overview
Location
Cl. Hermosilla, 112
Madrid, 28009
Spain
Tel: +(34) 901122122
Fax: 34 917 748 311
Web: www.sfera.com
Sales EUR(mil): 184.1
Assets EUR(mil): 165.8
Employees: 1,815
Fiscal Year End: 25-Apr-2012
Industry: Retail
(Apparel)
Incorporation Date: 2001
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ESP): A83036137
Managing Director: Garcia
Poveda Agustin
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Branch Offices
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
4251 - Clothing Retailing
NACE 2002 Codes:
5242 - Retail sale of clothing
NAICS 2002 Codes:
448110 - Men's Clothing Stores
448120 - Women's Clothing Stores
US SIC 1987:
5611 - Men's and Boys' Clothing and Accessory Stores
5621 - Women's Clothing Stores
UK SIC 2003:
52424 - Retail sale of other men's clothing
52423 - Retail sale of other women's clothing
Business
Description
Retail sale of clothing in specialised stores
More Business
Descriptions
· Operation of a chain of men's, women's and children's clothing stores
· Women's, Men's & Childrens' Apparel Stores
Brand/Trade Names
Sfera
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Corporate
Family |
Corporate
Structure News: |
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El Corte Ingles
Sa |
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Sfera Joven Sa |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Madrid |
Spain |
Retail (Department and Discount) |
15,259.9 |
55,760 |
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Subsidiary |
Madrid |
Spain |
Retail (Department and Discount) |
3,399.0 |
12,458 |
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Subsidiary |
Madrid |
Spain |
Personal Services |
3,040.2 |
4,784 |
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Subsidiary |
Lisboa |
Portugal |
Retail (Department and Discount) |
537.6 |
3,354 |
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Subsidiary |
Madrid |
Spain |
Retail (Grocery) |
577.3 |
2,719 |
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Subsidiary |
Madrid |
Spain |
Computer Services |
704.1 |
2,545 |
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Subsidiary |
Madrid |
Spain |
Retail (Technology) |
336.8 |
726 |
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Subsidiary |
Madrid |
Spain |
Retail (Grocery) |
513.5 |
2,104 |
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Subsidiary |
Madrid |
Spain |
Retail (Apparel) |
251.7 |
1,815 |
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Subsidiary |
Madrid |
Spain |
Consumer Financial Services |
|
800 |
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Subsidiary |
Barcelona |
Spain |
Retail (Specialty) |
108.0 |
702 |
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Subsidiary |
Mostoles, Madrid |
Spain |
Construction - Supplies and Fixtures |
190.1 |
684 |
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Subsidiary |
Villarrubia De Santiago, Toledo |
Spain |
Construction - Supplies and Fixtures |
5.6 |
47 |
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Subsidiary |
Parla, Madrid |
Spain |
Furniture and Fixtures |
14.0 |
18 |
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Subsidiary |
Madrid |
Spain |
Miscellaneous Capital Goods |
3.8 |
13 |
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Centro De
Seguros Y Servicios Correduria De Seguros Sa Grupo De Seguros El Corteingles |
Subsidiary |
Madrid |
Spain |
Investment Services |
71.5 |
670 |
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Subsidiary |
Madrid |
Spain |
Construction Services |
31.2 |
245 |
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Seguros El
Corte Inglés, Vida, Pensiones y Reaseguros, S.A. |
Subsidiary |
Madrid |
Spain |
Insurance (Life) |
|
120 |
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Subsidiary |
Madrid |
Spain |
Printing and Publishing |
4.3 |
10 |
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Subsidiary |
Madrid |
Spain |
Retail (Catalog and Mail Order) |
23.8 |
5 |
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Subsidiary |
Madrid |
Spain |
Retail (Department and Discount) |
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Subsidiary |
Madrid |
Spain |
Retail (Specialty) |
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Subsidiary |
Madrid |
Spain |
Personal Services |
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Subsidiary |
Madrid |
Spain |
Computer Services |
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Subsidiary |
Madrid |
Spain |
Insurance (Life) |
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Subsidiary |
Madrid |
Spain |
Investment Services |
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Executive report
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Board of Directors |
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Joint Manager |
Director/Board Member |
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Joint Manager, Joint Attorney |
Director/Board Member |
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Joint Manager |
Director/Board Member |
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Joint Manager |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Joint Manager |
Administration Executive |
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Joint Manager, Joint Attorney |
Administration Executive |
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Joint Manager |
Administration Executive |
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Joint Manager |
Administration Executive |
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Director de Recursos Humanos |
Human Resources Executive |
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Director Comercial y Director de Marketing |
Marketing Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney |
Legal Executive |
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Single Partner |
Partner |
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Charges |
269.2 |
267.7 |
278.2 |
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Supplies |
130.4 |
130.9 |
133.3 |
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Goods Consumption |
126.9 |
127.6 |
133.3 |
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Consumption of Raw
Materials |
3.4 |
3.0 |
- |
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Miscellaneous External
Expenditures |
0.1 |
0.2 |
- |
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Staff Costs |
62.8 |
52.5 |
50.5 |
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Wages and Salaries |
48.7 |
40.3 |
50.5 |
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Social Security Costs |
14.1 |
12.1 |
- |
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Depreciation |
12.6 |
13.2 |
10.6 |
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Allowance for Trade Operations |
0.3 |
-0.6 |
- |
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Stock Provision
Variation |
0.3 |
-0.6 |
- |
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Other Operating Charges |
65.9 |
80.9 |
90.9 |
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External Services |
63.9 |
- |
- |
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Taxes |
0.4 |
- |
- |
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Other Operating Expenses |
1.6 |
80.9 |
90.9 |
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Financials and Similar Charges |
0.0 |
0.0 |
6.5 |
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Due to Other
Liabilities |
0.0 |
0.0 |
0.0 |
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Losses from Financial
Investments |
- |
- |
6.5 |
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Changes in Financial Investment Provisions |
-0.4 |
0.7 |
- |
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Exchange Losses |
1.2 |
- |
- |
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Net Financial Income |
- |
2.4 |
- |
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Changes in Provisions for Assets |
-10.9 |
- |
- |
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Losses From Assets and Securities Portfolio |
8.9 |
- |
1.1 |
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Extraordinary Profit |
2.0 |
1.3 |
- |
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Corporation Tax |
-1.6 |
-9.8 |
-14.8 |
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Income |
265.7 |
246.7 |
243.7 |
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Net Total Sales |
256.0 |
239.8 |
232.0 |
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Sales |
256.6 |
239.5 |
232.0 |
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Rendering of Services |
-0.6 |
0.3 |
- |
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Miscellaneous Operating Income |
9.7 |
2.5 |
6.3 |
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Auxiliary Income From
Current Management |
9.7 |
2.5 |
6.2 |
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Grants |
0.1 |
0.0 |
0.1 |
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Operating Losses |
6.4 |
34.6 |
47.1 |
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Income From Equity Investment |
- |
0.0 |
0.1 |
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Income From Miscellaneous Interests |
0.0 |
0.6 |
0.8 |
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Miscellaneous
Interests |
0.0 |
- |
- |
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Profit on Financial
Investment |
- |
0.6 |
0.8 |
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Gains from Exchange Rate |
- |
2.5 |
4.5 |
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Negative Financial Results |
0.7 |
- |
1.1 |
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Ordinary Activities' Losses |
7.1 |
32.1 |
48.2 |
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Profit on Disposal of Assets |
- |
1.3 |
- |
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Negative Extraordinary Results |
- |
- |
1.1 |
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Losses Before Taxes |
5.1 |
30.8 |
49.2 |
|
Financial Year Result (Losses) |
3.5 |
21.0 |
34.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Concessions, Patents,
Trademarks |
0.0 |
- |
- |
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Software |
0.1 |
0.6 |
5.1 |
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Payments on Account |
0.2 |
- |
- |
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Total Intangible Fixed Assets |
0.4 |
0.6 |
5.1 |
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Land and Construction |
11.4 |
- |
- |
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Tangible
Fixed Assets Under Construction |
1.4 |
- |
- |
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Other
Tangible Assets |
117.6 |
149.8 |
154.1 |
|
Total Tangible Fixed Assets |
130.5 |
149.8 |
154.1 |
|
Investments
in Associated Companies |
16.3 |
16.5 |
16.9 |
|
Long-Term
Guarantees and Deposits |
7.3 |
8.9 |
10.6 |
|
Financial Investments |
23.7 |
25.3 |
27.6 |
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Total Fixed Assets |
154.5 |
175.8 |
186.8 |
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Goods for
Resale |
49.1 |
37.3 |
42.4 |
|
Total Stocks |
49.1 |
37.3 |
42.4 |
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Trade
Debtors |
- |
0.0 |
0.0 |
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Receivables,
Group Companies |
2.6 |
1.6 |
0.2 |
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Other
Debtors |
2.2 |
3.4 |
7.4 |
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Public
Bodies |
1.9 |
0.8 |
1.3 |
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Total Debtors |
6.7 |
5.7 |
8.9 |
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Short-Term
Guarantees and Deposits |
0.0 |
0.0 |
0.0 |
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Total Short-Term Investments |
0.0 |
0.0 |
0.0 |
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Cash |
3.6 |
19.1 |
9.0 |
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Prepayments and Accrued Income |
1.2 |
0.5 |
1.9 |
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Total Current Assets |
60.7 |
62.7 |
62.1 |
|
Total Assets |
215.2 |
238.5 |
248.9 |
|
Legal
Reserve |
1.6 |
1.7 |
1.8 |
|
Miscellaneous
Reserves |
0.5 |
-2.2 |
-0.8 |
|
Total Reserves |
2.1 |
-0.5 |
1.0 |
|
Prior Year
Losses |
-52.8 |
-33.2 |
- |
|
Profit or Loss Brought Forward |
-52.8 |
-33.2 |
- |
|
Profit or Loss for the Financial
Year |
-3.3 |
-21.3 |
-35.5 |
|
Total Equity |
146.1 |
151.7 |
79.0 |
|
Amounts
Owed to Group Companies |
0.1 |
0.1 |
0.0 |
|
Total Debts with Group or
Affiliated Companies |
0.1 |
0.1 |
0.0 |
|
Long-Term
Payables to Public Bodies |
- |
0.4 |
- |
|
Total Other Creditors |
- |
0.4 |
- |
|
Total Long Term Liabilities |
0.1 |
0.5 |
0.0 |
|
Amounts
Owed to Group Companies |
22.8 |
46.9 |
120.6 |
|
Total Short-Term Amounts Owed to
Group and Associa |
22.8 |
46.9 |
120.6 |
|
Amounts
Owed for Purchases of Goods or Services |
32.8 |
24.6 |
23.0 |
|
Total Trade Creditors |
32.8 |
24.6 |
23.0 |
|
Public
Bodies |
1.9 |
1.9 |
1.6 |
|
Bills of
Exchange Payable |
7.3 |
7.5 |
16.1 |
|
Miscellaneous
Debts |
3.2 |
3.3 |
7.1 |
|
Wages and
Salaries Payable |
0.9 |
1.1 |
1.4 |
|
Total Other Creditors |
13.4 |
13.9 |
26.3 |
|
Total Short Term Creditors |
69.0 |
85.3 |
170.0 |
|
Total Liabilities and Equity |
215.2 |
237.5 |
248.9 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.54 |
|
UK Pound |
1 |
Rs.87.39 |
|
Euro |
1 |
Rs.68.72 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.