MIRA
INFORM REPORT
|
Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
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Name : |
TU SA |
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Registered Office : |
Av/ Pinatar, 54 2º -
6-7. |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.10.2012 |
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Reg. No.: |
A30220016 |
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Legal Form : |
Public Independent |
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Line of Business : |
Agents involved in the sale of machinery, industrial equipment, ships and aircraft |
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No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 239,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
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 |
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 and address
TU SA
Av/ Pinatar, 54 2º -
6-7.
San Javier, 30730
Spain
Tel: +(34)
968572512
Employees: 10
Company Type: Public
Independent
Incorporation Date: 1989
Auditor: Quintana Orenes
Auditores Censores Jurados De Cuentas Sl
Financials in: USD
(In Millions)
Fiscal Year End: 10-Oct-2012
Reporting Currency: Euro
Annual Sales: 15.4
1
Net Income: 0.9
Total Assets: 14.7
Business Description
Agents involved in the sale of machinery, industrial equipment, ships and aircraft
Industry
|
Industry |
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ANZSIC 2006: |
|
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NACE 2002: |
5114 -
Agents involved in the sale of machinery, industrial equipment, ships and
aircraft |
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NAICS 2002: |
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UK SIC 2003: |
5114 -
Agents involved in the sale of machinery, industrial equipment, ships and
aircraft |
|
UK SIC 2007: |
4614 -
Agents involved in the sale of machinery, industrial equipment, ships and
aircraft |
|
US SIC 1987: |
Key Executive
|
Name |
Title |
|
Alcaraz Hernandez Concepcion |
Director/General Manager |
|
Aniorte Ferrandez Juan Manuel |
Administrator, Director/General Manager |
News
|
Title |
Date |
|
KBC
completes sale of Polish insurer Warta to Talanx |
2-Jul-2012 |
|
Talanx,
Meiji Yasuda Announce Second Acquisition in Poland |
23-Jan-2012 |
|
Meiji
Yasuda and Talanx Team Up to Buy Polish Insurer Europa Group |
29-Dec-2011 |
Registered No.(ESP): A30220016
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7716277
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.776685
Location
Av/ Pinatar, 54 2º - 6-7.
San Javier, 30730
Spain
Tel: +(34)
968572512
Sales EUR(mil): 11.9
Assets EUR(mil): 11.4
Employees: 10
Fiscal Year End: 10-Oct-2012
Industry: Miscellaneous
Capital Goods
Incorporation Date: 1989
Company Type: Public Independent
Quoted Status: Not Quoted
Registered No.(ESP): A30220016
Administrator, Director/General Manager: Aniorte
Ferrandez Juan Manuel
Industry Code
|
ANZSIC 2006 Codes: |
||
|
3739 |
- |
Other Goods Wholesaling Not Elsewhere Classified |
|
NACE 2002 Codes: |
||
|
5114 |
- |
Agents involved in the sale of machinery, industrial equipment, ships and aircraft |
|
NAICS 2002 Codes: |
||
|
425120 |
- |
Wholesale Trade Agents and Brokers |
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US SIC 1987: |
||
|
5099 |
- |
Durable Goods, Not Elsewhere Classified |
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UK SIC 2003: |
||
|
5114 |
- |
Agents involved in the sale of machinery, industrial equipment, ships and aircraft |
|
UK SIC 2007: |
||
|
4614 |
- |
Agents involved in the sale of machinery, industrial equipment, ships and aircraft |
Business
Description
Agents involved in the sale of machinery, industrial equipment, ships and aircraft
Financial
Data
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Financials in: |
EUR(mil) |
1 Year Growth |
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Revenue: |
11.9 |
NA |
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Net Income: |
0.7 |
NA |
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Assets: |
11.4 |
NA |
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Current Assets: |
6.3 |
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Fixed Assets: |
5.1 |
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Long Term Debt: |
2.1 |
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Total Liabilities: |
11.4 |
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Issued Capital: |
0.1 |
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Net Worth: |
3.7 |
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Date of Financial Data: |
10-Oct-2012 |
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Key Corporate Relationships
Auditor: Quintana Orenes Auditores Censores Jurados De Cuentas Sl
Bank: Caja De Ahorros Y Monte De Piedad De Barcelona (La Caixa), Banco Exterior De España, S.A., Banesto Banco De Emisiones, S.A., Banco De Sabadell, S.A.
Auditor: Quintana Orenes Auditores Censores
Jurados De Cuentas Sl
Executives
|
|
|
|||
|
Director/General Manager |
Division Head Executive |
|||
|
Administrator, Director/General Manager |
Division Head Executive |
News
|
KBC
completes sale of Polish insurer Warta to Talanx |
02-Jul-2012 |
|
Talanx,
Meiji Yasuda Announce Second Acquisition in Poland |
23-Jan-2012 |
|
Meiji
Yasuda and Talanx Team Up to Buy Polish Insurer Europa Group |
29-Dec-2011 |
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
15.8 |
7.8 |
12.4 |
|
Staff Costs |
0.5 |
0.4 |
0.3 |
|
Wages
and Salaries |
0.4 |
0.3 |
0.3 |
|
Social
Security Costs |
0.1 |
0.1 |
0.1 |
|
Depreciation |
0.3 |
0.3 |
0.3 |
|
Other Operating
Charges |
2.2 |
1.4 |
1.5 |
|
Operating
Benefits |
1.6 |
0.5 |
1.9 |
|
Financials and
Similar Charges |
0.3 |
0.4 |
1.1 |
|
Due
to Liabilities With Group Companies |
- |
0.0 |
0.2 |
|
Due
to Other Liabilities |
0.2 |
0.2 |
0.2 |
|
Losses
from Financial Investments |
0.1 |
0.2 |
0.7 |
|
Changes in
Financial Investment Provisions |
0.0 |
- |
- |
|
Exchange Losses |
0.1 |
0.0 |
- |
|
Profit From
Ordinary Activities |
1.4 |
0.3 |
1.2 |
|
Extraordinary
Expenses |
0.0 |
- |
- |
|
Extraordinary
Profit |
- |
0.0 |
0.0 |
|
Profit Before
Taxes |
1.4 |
0.3 |
1.2 |
|
Corporation Tax |
0.4 |
0.2 |
0.4 |
|
Financial Year
Result (Profit) |
1.0 |
0.2 |
0.9 |
|
Income |
16.8 |
8.0 |
13.3 |
|
Net Total Sales |
16.6 |
7.7 |
12.7 |
|
Gains from
Exchange Rate |
- |
- |
0.0 |
|
Negative
Financial Results |
0.2 |
0.2 |
0.7 |
|
Profit on Disposal
of Assets |
- |
- |
0.0 |
|
Extraordinary
Income |
- |
0.0 |
0.0 |
|
Negative
Extraordinary Results |
0.0 |
- |
- |
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 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total Intangible
Fixed Assets |
0.0 |
0.0 |
0.0 |
|
Total Tangible
Fixed Assets |
4.9 |
5.3 |
5.8 |
|
Financial
Investments |
1.7 |
1.7 |
1.6 |
|
Total Fixed Assets |
6.6 |
7.0 |
7.5 |
|
Total Stocks |
0.3 |
0.4 |
0.2 |
|
Total Debtors |
6.2 |
5.1 |
4.7 |
|
Total Short-Term
Investments |
0.2 |
0.1 |
0.1 |
|
Cash |
1.3 |
1.4 |
2.0 |
|
Prepayments and
Accrued Income |
0.1 |
0.0 |
0.1 |
|
Total Current Assets |
8.2 |
7.0 |
7.0 |
|
Total Assets |
14.8 |
14.1 |
14.5 |
|
Capital
Adjustment to Euros |
0.0 |
0.0 |
0.0 |
|
Total Reserves |
3.8 |
4.0 |
3.7 |
|
Profit or Loss for
the Financial Year |
0.9 |
0.2 |
0.9 |
|
Total Equity |
4.8 |
4.3 |
4.7 |
|
Total Long Term Liabilities |
2.7 |
3.2 |
3.7 |
|
Total Short Term Creditors |
7.3 |
6.6 |
6.0 |
|
Total
Liabilities and Equity |
14.8 |
14.1 |
14.5 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
|
1 |
Rs.87.63 |
|
Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.