MIRA
INFORM REPORT
|
Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
J. GARCIA CARRION SA |
|
|
|
|
Registered Office : |
Ctra. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1971 |
|
|
|
|
Com. Reg. No.: |
A08267403 |
|
|
|
|
Legal Form : |
Public Parent Company |
|
|
|
|
Line of Business : |
Production of wines, fruit juices and soft drinks |
|
|
|
|
No. of Employees : |
380 employees |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
spain - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, after almost 15 years of above average GDP growth, the Spanish
economy began to slow in late 2007 and entered into a recession in the second
quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend,
and by another 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in
Spain''s economic growth reflected a significant decline in construction amid
an oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain concerned
that Madrid may need to bail out more troubled banks. The Bank of Spain,
however, is seeking to boost confidence in the financial sector by pressuring
banks to come clean about their losses and consolidate into stronger groups.
|
Source : CIA |
Company name & address
J. Garcia Carrion Sa
Ctra. Murcia - S/N
Jumilla, 30520
Spain
Tel: +(34) 968758100
Fax: 34 915 766 607
Web: www.garciacarrion.es
Synthesis
Employees: 380
Company Type: Public Parent
Corporate Family: 2
Companies
Incorporation Date: 1971
Auditor: Deloitte S.L.
Financials in: USD
(Millions)
Fiscal Year End: 03-Nov-2011
Reporting Currency: Euro
Annual Sales: 816.3
1
Net Income: 19.9
Total Assets: 941.6
Business Description
Production of wines, fruit juices and soft drinks
Industry
Industry Beverages (Alcoholic)
ANZSIC 2006: 1214 - Wine and
Other Alcoholic Beverage Manufacturing
NACE 2002: 1593 - Manufacture
of wines
NAICS 2002: 312130 - Wineries
UK SIC 2003: 1593 - Manufacture
of wines
UK SIC 2007: 1102 - Manufacture
of wine from grape
US SIC 1987: 2084 - Wines,
Brandy, and Brandy Spirits
Key Executives
|
Name |
Title |
|
Jordan Jose Garcia Carrion |
Chief Executive Officer, Member Of The Board |
|
Villaverde Carnevali Felix |
Financial Director |
|
Mesones Sergio |
Marketing Director |
|
Acebo Sanchez Francisco Javier |
Secretary |
|
Henares Iranzo Antonio |
Commercial Manager |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7185646
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7276432
Corporate Overview
Location
Ctra. Murcia - S/N
Jumilla, 30520
Spain
Tel: +(34) 968758100
Fax: 34 915 766 607
Web: www.garciacarrion.es
Sales EUR(mil): 586.6
Assets EUR(mil): 685.2
Employees: 380
Fiscal Year End: 03-Nov-2011
Industry: Beverages (Alcoholic)
Incorporation Date: 1971
Company Type: Public
Parent
Quoted Status: Not
Quoted
Registered No.(ESP): A08267403
Chief Executive
Officer, Member Of The Board:
Jordan Jose Garcia Carrion
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1214 - Wine and Other Alcoholic Beverage Manufacturing
1211 - Soft Drink, Cordial and Syrup Manufacturing
1140 - Fruit and Vegetable Processing
NACE 2002 Codes:
1593 - Manufacture of wines
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
1598 - Manufacture of mineral waters and soft drinks
NAICS 2002 Codes:
312130 - Wineries
312111 - Soft Drink Manufacturing
311411 - Frozen Fruit, Juice, and Vegetable Manufacturing
US SIC 1987:
2084 - Wines, Brandy, and Brandy Spirits
2037 - Frozen Fruits, Fruit Juices, and Vegetables
2086 - Bottled and Canned Soft Drinks and Carbonated Waters
UK SIC 2003:
1593 - Manufacture of wines
1533 - Processing and preserving of fruit and vegetables not elsewhere
classified
1598 - Manufacture of mineral waters and soft drinks
UK SIC 2007:
1102 - Manufacture of wine from grape
1039 - Other processing and preserving of fruit and vegetables
1107 - Manufacture of soft drinks; production of mineral waters
and other bottled waters
Business
Description
Wholesale of beverages
More Business
Descriptions
Production of wines, fruit juices and soft drinks
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate
Structure News: |
|
|
J.
Garcia Carrion Sa |
|
J. Garcia Carrion Sa |
|
|
|
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
J. Garcia Carrion Sa |
Parent |
Jumilla, Murcia |
Spain |
Beverages (Alcoholic) |
816.3 |
380 |
|
|
Grupo De Bodegas Vinartis Sa |
Subsidiary |
Pozuelo De Alarcon, Madrid |
Spain |
Beverages (Alcoholic) |
10.2 |
53 |
|
EXECUTIVE REPORT
|
Board
of Directors |
|
|
|
|
|||
|
Member Of The Board, Vice Chairman |
Vice-Chairman |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Financial Director |
Director/Board Member |
|
|||
|
Chief Executive Officer, Member Of The
Board |
Director/Board Member |
|
|||
|
Consejero |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board |
Director/Board Member |
|
|
Executives |
|
Title |
|
|
||||
|
Chief Executive Officer, Member Of The
Board |
Chief Executive Officer |
|
||||
|
Director/General Manager, Managing
Director |
Division Head Executive |
|
||||
|
Managing Director |
Managing Director |
|
||||
|
Director General |
Managing Director |
|
||||
|
Secretary |
Administration Executive |
|
||||
|
Vice Secretary |
Administration Executive |
|
||||
|
Financial Director |
Finance Executive |
|
||||
|
Marketing Director |
Marketing Executive |
|
||||
|
Commercial Manager |
Commercial Executive |
|
||||
Annual
Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
787.1 |
801.6 |
823.3 |
|
Supplies |
516.3 |
571.2 |
590.6 |
|
Goods
Consumption |
-6.3 |
7.0 |
12.0 |
|
Consumption
of Raw Materials |
432.1 |
493.5 |
495.1 |
|
Miscellaneous
External Expenditures |
90.5 |
70.7 |
83.4 |
|
Staff Costs |
29.0 |
27.1 |
26.4 |
|
Wages
and Salaries |
23.8 |
22.0 |
21.6 |
|
Social
Security Costs |
5.2 |
5.1 |
4.7 |
|
Depreciation |
10.2 |
8.7 |
9.0 |
|
Allowance for
Trade Operations |
-0.7 |
0.3 |
0.1 |
|
Losses
from Unrecovered Receivables |
-0.7 |
0.3 |
0.1 |
|
Other Operating
Charges |
199.9 |
165.8 |
164.2 |
|
External
Services |
199.7 |
165.7 |
164.1 |
|
Taxes |
0.1 |
0.1 |
0.1 |
|
Operating
Benefits |
38.7 |
39.8 |
33.6 |
|
Financials and Similar
Charges |
28.1 |
23.3 |
24.3 |
|
Due
to Liabilities With Group Companies |
8.1 |
4.7 |
7.3 |
|
Due
to Other Liabilities |
20.0 |
14.0 |
16.7 |
|
Losses
from Financial Investments |
- |
4.7 |
0.3 |
|
Changes in Financial
Investment Provisions |
- |
- |
1.5 |
|
Exchange Losses |
- |
6.5 |
4.1 |
|
Profit From
Ordinary Activities |
22.4 |
19.8 |
14.6 |
|
Losses From Assets
and Securities Portfolio |
0.0 |
- |
- |
|
Extraordinary
Expenses |
- |
- |
0.0 |
|
Extraordinary
Profit |
0.8 |
1.3 |
1.9 |
|
Profit Before
Taxes |
23.2 |
21.2 |
16.5 |
|
Corporation Tax |
4.3 |
-1.4 |
3.1 |
|
Financial Year
Result (Profit) |
18.9 |
22.6 |
13.4 |
|
Income |
806.0 |
824.2 |
836.7 |
|
Net Total Sales |
776.8 |
798.3 |
752.1 |
|
Sales |
782.6 |
807.2 |
760.2 |
|
Rendering
of Services |
6.6 |
3.9 |
3.9 |
|
Sales
Refunds |
-12.4 |
-12.8 |
-12.0 |
|
Increase in Stocks |
1.3 |
8.3 |
49.1 |
|
Works Performed
for Fixed Assets |
0.1 |
3.5 |
2.8 |
|
Miscellaneous
Operating Income |
15.1 |
2.8 |
19.9 |
|
Auxiliary
Income From Current Management |
10.8 |
2.8 |
17.3 |
|
Grants |
4.2 |
- |
2.5 |
|
Income From
Miscellaneous Interests |
9.8 |
9.9 |
10.9 |
|
Miscellaneous
Interests |
9.5 |
1.6 |
10.9 |
|
Profit
on Financial Investment |
0.3 |
8.3 |
- |
|
Gains from
Exchange Rate |
2.0 |
- |
- |
|
Negative
Financial Results |
16.3 |
20.0 |
19.0 |
|
Profit on Disposal
of Assets |
- |
0.3 |
0.0 |
|
Capital Grants
Transferred to Profit and Loss |
0.8 |
1.0 |
1.9 |
|
Extraordinary
Income |
0.1 |
0.0 |
- |
Annual Balance
Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Research
and Development Costs |
5.2 |
32.8 |
3.3 |
|
Concessions,
Patents, Trademarks |
1.7 |
1.6 |
0.4 |
|
Software |
3.0 |
1.2 |
0.3 |
|
Total Intangible
Fixed Assets |
9.8 |
35.6 |
4.0 |
|
Land
and Construction |
44.9 |
38.5 |
40.6 |
|
Technical
Installations and Machinery |
18.9 |
21.9 |
17.8 |
|
Tangible
Fixed Assets Under Construction |
3.7 |
15.0 |
6.4 |
|
Other
Tangible Assets |
2.8 |
3.2 |
2.6 |
|
Total Tangible
Fixed Assets |
70.3 |
78.6 |
67.4 |
|
Long-Term
Securities Portfolio |
382.5 |
333.9 |
100.5 |
|
Other
Receivables |
6.4 |
6.9 |
- |
|
Long-Term
Guarantees and Deposits |
0.0 |
0.0 |
0.0 |
|
Financial
Investments |
389.0 |
340.8 |
100.5 |
|
Total Fixed Assets |
469.1 |
455.1 |
171.9 |
|
Raw
Materials and Other Consumables |
101.3 |
101.2 |
94.4 |
|
Goods
in Process |
84.2 |
90.9 |
75.1 |
|
Finished
Products |
35.1 |
37.3 |
34.7 |
|
Payments
on Account |
0.0 |
0.0 |
0.0 |
|
Total Stocks |
220.6 |
229.4 |
204.3 |
|
Trade
Debtors |
121.9 |
120.6 |
115.6 |
|
Receivables,
Group Companies |
5.5 |
- |
- |
|
Other
Debtors |
0.9 |
23.7 |
1.4 |
|
Staff |
0.4 |
0.4 |
0.2 |
|
Public
Bodies |
33.4 |
34.8 |
25.2 |
|
Total Debtors |
162.1 |
179.4 |
142.4 |
|
Receivables
from Group Companies |
24.3 |
0.3 |
- |
|
Short-Term
Securities Portfolio |
22.9 |
0.7 |
48.8 |
|
Short-Term
Guarantees and Deposits |
0.9 |
2.2 |
0.0 |
|
Total Short-Term
Investments |
48.1 |
3.2 |
48.8 |
|
Cash |
16.2 |
37.3 |
-21.4 |
|
Prepayments and Accrued
Income |
3.1 |
0.1 |
3.3 |
|
Total Current Assets |
450.1 |
449.3 |
377.4 |
|
Total Assets |
919.2 |
904.4 |
549.3 |
|
Revaluation
Reserves |
2.7 |
2.5 |
2.5 |
|
Legal
Reserve |
6.7 |
7.2 |
6.9 |
|
Miscellaneous
Reserves |
103.2 |
96.1 |
92.8 |
|
Total Reserves |
109.9 |
103.2 |
99.8 |
|
Profit or Loss for
the Financial Year |
19.2 |
23.3 |
12.7 |
|
Total Equity |
286.0 |
294.1 |
274.9 |
|
Capital
Grants |
0.7 |
1.1 |
1.3 |
|
Total Deferred Income |
0.7 |
1.1 |
1.3 |
|
Provisions
for Pension Fund |
0.1 |
0.1 |
0.1 |
|
Total Provisions for Liabilities and
Charges |
0.1 |
0.1 |
0.1 |
|
Convertible
Debentures |
2.1 |
2.3 |
2.2 |
|
Total Issued
Debentures and Other Securities |
2.1 |
2.3 |
2.2 |
|
Loans
and Other Liabilities |
28.7 |
72.1 |
98.6 |
|
Total Amounts Owed
to Credit Institutions |
28.7 |
72.1 |
98.6 |
|
Amounts
Owed to Group Companies |
20.5 |
34.2 |
- |
|
Total Debts with
Group or Affiliated Companies |
20.5 |
34.2 |
- |
|
Other
Creditors |
228.2 |
50.1 |
75.0 |
|
Long-Term
Payables to Public Bodies |
8.2 |
9.5 |
0.9 |
|
Total Other
Creditors |
236.4 |
59.5 |
75.8 |
|
Total Long Term Liabilities |
287.7 |
168.1 |
176.6 |
|
Loans
and Other Liabilities |
162.3 |
215.5 |
175.0 |
|
Total Amounts Owed
to Credit Institutions |
162.3 |
215.5 |
175.0 |
|
Amounts
Owed to Group Companies |
30.1 |
51.8 |
- |
|
Total Short-Term
Amounts Owed to Group and Associa |
30.1 |
51.8 |
- |
|
Amounts
Owed for Purchases of Goods or Services |
148.7 |
172.5 |
-83.2 |
|
Total Trade
Creditors |
148.7 |
172.5 |
-83.2 |
|
Public
Bodies |
2.6 |
1.1 |
4.6 |
|
Miscellaneous
Debts |
0.4 |
-0.1 |
0.0 |
|
Wages
and Salaries Payable |
0.5 |
0.2 |
0.0 |
|
Total Other
Creditors |
3.5 |
1.2 |
4.6 |
|
Total Short Term Creditors |
344.5 |
441.0 |
96.4 |
|
Total
Liabilities and Equity |
919.2 |
904.4 |
549.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.57 |
|
UK Pound |
1 |
Rs.87.90 |
|
Euro |
1 |
Rs.71.53 |
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.