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Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
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Name : |
NEF - NEF S.A. |
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Registered Office : |
5 Dalias 13677 Acharnes Attiki |
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Country : |
Greece |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.01.2002 |
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Com. Reg. No.: |
050748 |
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Legal Form : |
Societe anonyme |
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Line of Business : |
Wholesales piece goods and notions |
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No. of Employees : |
48 employees |
RATING & COMMENTS
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MIRAs 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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Greece |
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 |
NEF - NEF S.A.
ADDRESS: 5 DALIAS 13677 ACHARNES ATTIKI GREECE TELEPHONE: 30 2102462042 TELEFAX: 30 2102440855 E-MAIL ADDRESS: info@nef-nef.gr WEB ADDRESS: www.nef-nef.gr
Dimitrios Ser. Iosif member Panagiotis Erm. Psarianos member Konstantinos Dim. Kleideris vice-chairman shareholder Alexandros Dim. Kleideris chief executive shareholder Alexandros Dim. Kleideris chairman shareholder
PRINCIPALS ANTECEDENTS NAME: Dimitrios Ser. Iosif Also associated with IOSIF BROS S.A.. NAME: Panagiotis Erm. Psarianos Also a director of EDUCATIONAL ACCOUNTANCY LTD, PET SERVICE LTD, DIETHNEIS EPICHEIRISSEIS AKINITON S.A., GRAFEIO PSARIANOU - ELLINIKI LOGISTIKI ETAIRIA S.A.. Also a partner in PET SERVICE LTD. Also associated with DIETHNEIS EPICHEIRISSEIS AKINITON S.A., GRAFEIO PSARIANOU - ELLINIKI LOGISTIKI ETAIRIA S.A.. NAME: Konstantinos Dim. Kleideris Also a director of KLEIDERIS, KOSTAS, LTD, NEF-NEF LTD. Also a partner in KLEIDERIS, KOSTAS, LTD. Also associated with FINEF S.A.. NAME: Alexandros Dim. Kleideris Also a director of NEF-NEF LTD, FINEF S.A., EVYEP S.A.. Also a partner in KLEIDERIS, KOSTAS, LTD. Also associated with FINEF S.A.. NAME: Alexandros Dim. Kleideris Also a director of NEF-NEF LTD, FINEF S.A., EVYEP S.A.. Also a partner in KLEIDERIS, KOSTAS, LTD. Also associated with FINEF S.A..
48 employees
A check against all available information sources of revealed that no
late payment incidents against Subject Company exist.
Alpha Bank A.E., Ethniki Odos Lamia Branch branch., Athinon-Lamias National Rd (17 Klm), Kifissia 14564, Greece. Telephone: 30 2108071824 Emporiki Bank, N. Kifissia Branch branch., Ilission, Aiolias & Platanou, Kifissia 14564, Greece. Telephone: 30 2106250116 Geniki Bank, Ag. Stefanos Branch branch., 9-1 Helmou, Agios Stefanos 14565, Greece. Telephone: 30 2108141915 EFG EUROBANK ERGASIAS S.A., Nea Kifissia Branch branch., Athinon - Lamias Nat. Rd 17th km, Kifissia 14564, Greece. Telephone: 30 2106252371 Bank of Cyprus Ltd, Metamorfossi Branch branch., Athinon-Lamias Nat. Rd (12th km) & Valaoritou Str., Metamorfossi 14452, Greece. Telephone: 30 2102851205
Fiscal Fiscal Fiscal Dec 31,2008 Dec 31,2009 Dec 31,2010Turnover 9,722,418 8,966,320 7,955,093Pre-Tax Profit 488,657 145,884 361,883Net Worth 2,144,196 2,230,903 2,311,452Fixed Assets 1,363,388 1,191,830 1,145,011Total Assets 9,691,413 7,349,478 8,042,787Current Assets 8,236,268 6,118,715 6,882,705Current Liabilities 5,375,907 2,952,248 3,861,658Working Capital 2,860,361 3,166,467 3,021,047Long Term Debt 2,171,310 2,166,327 1,869,677Financial Assets 10,961 9,873 9,873Intangibles 80,796 29,059 5,197Employees 46 46 Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets. +--------+ | RATIOS | +--------+ Dec 31,2008 Dec 31,2009 Dec 31,2010Current Ratio (X) 1.53 2.07 1.78Solvency Ratio (%) 451.98 329.44 347.95Fixed Assets/Net Worth (%) 63.59 53.42 49.54Current Liabs/Net Worth (%) 250.72 132.33 167.07Asset Turnover (%) 100.32 122.00 98.91Sales / Net Working Cap (X) 3.40 2.83 2.63Assets / Sales (%) 99.68 81.97 101.10Profit Margin (%) 5.03 1.63 4.55S/holders Return (%) 22.79 6.54 15.66Return On Assets (%) 5.04 1.98 4.50Sales / Employees 0.00 194,920.00 172,936.80Profit / Employees 0.00 3,171.39 7,867.02 Abstract from individual fiscal balance sheet as at Dec 31, 2010 LIABILITIES ASSETS Capital 2,183,970 Land/Buildings 2,565,320Retained Profits 5,387 Depreciation 1,420,309Misc Reserves 122,096 Total Fixed Ass 1,145,011Net Worth 2,311,453 Misc Fin'cl Ass 9,873Misc Provisions 6,445 Total Fin'cl Ass 9,873Misc Def Liabs 1,863,232 Misc Intangible 5,197 Total Intangible 5,197 CURRENT LIABILITIES: CURRENT ASSETS: Trade Creditors 888,140 Stock 1,400,302Short term Loans 2,470,642 Trade Debtors 4,560,560Proposed Dividends 147,782 Misc Debtors 471,977 Cash 449,869 TOTAL CURRENT 3,861,659 TOTAL CURRENT 6,882,708 TOTAL LIABS & NW 8,042,789 TOTAL ASSETS 8,042,789 Profit & Loss Account from Jan 1, 2010 to Dec 31, 2010 Net Sales 7,955,093 Cost of Goods Sold 4,650,819 Gross Profit 3,304,274 Misc Operating Charges 2,911,906 Misc Operating Income 65,092 Net Operating Income 457,460 Misc Financial Income 169,479 Total Financial Income 169,479 Interest Payable 221,500 Misc Financial Expenses 43,557 Total Financial Expenses 265,057 Profit Before Taxes 361,882 Income Tax 111,213 Profit After Tax 250,669 Net Profit 250,669 Dividends 147,782 Retained Earnings at End -147,782
BACKGROUND Business started Jan 14, 2002. Subject acquired the business of FINEF S.A., a Societe anonyme which started in 1996 with effect from Dec 31, 2004. Subject moved from 15 I. Nika, 13671 Acharnes Attiki on Nov 1, 2002. LEGAL FORM Societe anonyme registered on Jan 14, 2002 for a period ending Dec 31, 2080. Registration Number: 050748 Government Gazette Number: 00273 / 2002 Chamber of Commerce Number: 192671 Tax Registration Number: 999871900 Subject was established following a merger of the firms : NEF - NEF S.A. (1991), NEF - NEF S.A. (1960). On 31/12/2004 (Gov. Gaz. No. 15245/2004) subject absorbed the firm(s) FINEF S.A. On 18/7/2007 (Gov. Gaz. No. 08186/2007) a change of subject's head office was published. NEF-NEF LTD was originally founded in 1991 and EVYEP S.A. was originally founded in 1960.
Nominal capital is divided into: 74,138 shares of 30 each and fully paid-up.
Konstantinos Kleideris holds 50.00% of the voting capital. Alexandros Kleideris holds 50.00% of the voting capital.
SUBSIDIARIES FINEF S.A. Societe Anonyme, Agios Stefanos, Greece This subsidiary is dormant. Year started: 1996. Subject owns 100% of the capital. AFFILIATES The following are related through principal(s) and/or financial interest(s): FINEF S.A. Societe Anonyme, Agios Stefanos, Greece This is a dormant concern. Year started: 1996. Subject has a 0.04% share interest. KLEIDERIS, KOSTAS, LTD Limited Liability Company, Acharnes, Greece This is a dormant concern. Year started: 1988. This concern is related through common shareholders. KLEIDERIS KONSTANTINOS Sole Proprietorship, Acharnes, Greece This is a dormant concern. Year started: 1984. This concern is related through common shareholders.
Local Activity Code: 4641 Local Activity Code Type: STAKOD Equivalent to: NACE 1 Wholesales piece goods and notions Manufactures textile goods Imports, mfg and trade of white linen and fabrics, bathroom curtains, mats and slippers , Subject's clientele comprises 1200 enterprises all over Greece, such as, retail stores, hotels, hair-dresser's, supermarkets etc., including: Exports 5% to Belgium, Bulgaria, Cyprus, Tunisia Normal exporting terms are cash against documents Imports 100% from China, India, Pakistan, Turkey Normal importing terms are promissory notes Subject produces the following brand(s): ANNE GEDDES BENETTON CACHAREL COTTONFIELD FOREVER FRIENDS KYLIE MINOGUE AT HOME NEF-NEF HOMEWARE PIP SMILEY COLLECTION SMILEY WORLD SNOOPY
Operates from owned factory, covering approximately 2,800 square metres at heading address. REGISTERED OFFICE: At heading address.
Subject is a family-run firm, which operates mainly as a trading firm since 01.01.2009. It is noted that its trading activities contribute by 97% to its total Net Sales. Noted that for the trade marks subject pays royalties. Its products are of good quality and are quite accepted by the consumers. NEF-NEF LTD was originally founded in 1991 and EVYEP S.A. was originally founded in 1960. - According to the 31/12/2010 balance sheet, subjects fixed assets are mortgaged and prenoted for 4,002,772 Euro, in favor of banks, to ensure loans received, the balance of which at 31/12/2010, amounted to 2,484,960 Euro. FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
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|
1 |
Rs.77.86 |
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Euro |
1 |
Rs.66.06 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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-- |
NB |
New Business |
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This score serves as a reference to assess SCs 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.