MIRA INFORM REPORT

 

 

Report Date :

03.07.2012

 

IDENTIFICATION DETAILS

 

Name :

JEVASO SL

 

 

Registered Office :

A Ponte, 2, Cambre, 15668

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1991    

 

 

Com. Reg. No.:

B15299548

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Manufacturer of other outerwear

 

 

No. of Employees :

116

 

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 :

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Company name & address 

 

Jevaso Sl

A Ponte, 2

Cambre, 15668

Spain

Tel:       +(34) 981676872

 

 

Registration data     

 

Employees:                  116

Company Type:             Private Independent

Incorporation Date:         1991   

Financials in:                 USD (Millions)

Fiscal Year End:            15-Oct-2010

Reporting Currency:       Euro

Annual Sales:               10.2  1

Net Income:                  0.9

Total Assets:                18.6

 

 

Business Description     

 

Manufacture of other outerwear

 

Industry             

Industry            Apparel and Accessories

ANZSIC 2006:    1351 - Clothing Manufacturing

NACE 2002:      1822 - Manufacture of other outerwear

NAICS 2002:     3152 - Cut and Sew Apparel Manufacturing

UK SIC 2003:    1822 - Manufacture of other outerwear

US SIC 1987:    2385 - Waterproof Outerwear

 

 

Key Executives   

 

Name

Title

Jesus Vazquez Sobrino

Member Of The Board, President, Joint Chief Executive Officer

Antonio Alvarez Gonzalez

Secretary

Mosteiro Mosteiro Maria Del Carmen

Commercial Manager

Maria Esperanza Carro Manteiga

Member Of The Board

Pilar Vazquez Sobrino

Member Of The Board

 

 

Registered No.(ESP):     B15299548

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7419216

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7136995

 

 

Corporate Overview

 

Location

A Ponte, 2

Cambre, 15668

Spain

Tel:       +(34) 981676872

           

Sales EUR(mil):             7.6

Assets EUR(mil):           13.3

Employees:                   116

Fiscal Year End:            15-Oct-2010

Industry:                        Apparel and Accessories

Incorporation Date:         1991

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     B15299548

 

Member Of The Board,

President,

Joint Chief Executive Officer:       Jesus Vazquez Sobrino

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1351     -          Clothing Manufacturing

 

NACE 2002 Codes:

1822     -          Manufacture of other outerwear

 

NAICS 2002 Codes:

3152     -          Cut and Sew Apparel Manufacturing

 

US SIC 1987:

2385     -          Waterproof Outerwear

 

UK SIC 2003:

1822     -          Manufacture of other outerwear

 

Business Description

Manufacture of other outerwear

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

7.6

Net Income:

0.7

Assets:

13.3

Current Assets:

2.9

 

Fixed Assets:

10.4

 

Long Term Debt:

5.6

 

Total Liabilities:

13.3

 

Issued Capital:

1.5

 

Net Worth:

7.1

 

 

 

Date of Financial Data:

15-Oct-2010

 

1 Year Growth

-23.7%

NA

NA

 

Key Corporate Relationships

Bank:

Banco Bilbao Vizcaya Argentaria, S.A.

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Maria Esperanza Carro Manteiga

 

Member Of The Board

Director/Board Member

 

Jesus Vazquez Sobrino

 

Member Of The Board, President, Joint Chief Executive Officer

Director/Board Member

 

Pilar Vazquez Sobrino

 

Member Of The Board

Director/Board Member

 

 

 

Executives

 

Name

Title

Function

 

Jesus Vazquez Sobrino

 

Member Of The Board, President, Joint Chief Executive Officer

Chief Executive Officer

 

Antonio Alvarez Gonzalez

 

Secretary

Administration Executive

 

Mosteiro Mosteiro Maria Del Carmen

 

Commercial Manager

Commercial Executive

 

 

 

 

Annual Profit & Loss

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.730637

Consolidated

No

No

No

 

 

 

 

Charges

9.7

13.0

9.9

    Supplies

2.0

3.5

2.8

        Goods Consumption

0.1

0.2

0.2

        Consumption of Raw Materials

0.1

0.2

0.2

        Miscellaneous External Expenditures

1.7

3.0

2.4

    Staff Costs

4.7

5.6

4.7

        Wages and Salaries

2.5

3.0

2.5

        Social Security Costs

2.2

2.6

2.2

    Depreciation

1.0

1.1

0.5

    Allowance for Trade Operations

0.0

0.0

0.0

        Losses from Unrecovered Receivables

0.0

0.0

0.0

    Other Operating Charges

1.3

2.1

1.4

        External Services

1.3

2.1

1.4

        Taxes

0.0

0.0

0.0

Operating Benefits

1.6

2.3

1.4

    Financials and Similar Charges

0.6

0.5

0.5

        Due to Liabilities With Group Companies

0.6

0.5

0.5

        Due to Other Liabilities

0.0

0.0

0.0

Profit From Ordinary Activities

0.9

1.8

0.9

    Changes in Provisions for Assets

0.0

0.0

-

    Extraordinary Expenses

0.0

0.1

0.0

    Expenses and Losses From Previous Years

-

-

0.0

Extraordinary Profit

-

-

0.1

Profit Before Taxes

0.9

1.8

1.0

    Corporation Tax

-

0.1

-0.1

Financial Year Result (Profit)

0.9

1.7

1.1

Income

10.6

14.6

11.0

    Net Total Sales

10.5

14.5

10.8

        Sales

0.2

0.3

0.2

        Rendering of Services

10.3

14.2

10.5

    Miscellaneous Operating Income

0.1

0.1

0.1

        Auxiliary Income From Current Management

0.1

0.1

0.1

        Grants

0.0

0.0

0.0

    Income From Miscellaneous Interests

0.0

0.1

0.0

        From Group Companies

0.0

0.0

0.0

        Miscellaneous Interests

0.0

0.0

0.0

Negative Financial Results

0.6

0.5

0.5

    Capital Grants Transferred to Profit and Loss

-

-

0.1

    Extraordinary Income

-

-

0.0

Negative Extraordinary Results

0.0

0.0

-

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

    Formation Expenses

-

-

0.0

        Research and Development Costs

0.0

-

-

        Concessions, Patents, Trademarks

0.0

0.0

0.0

        Software

0.0

-

-

        Assets Under Capital Lease

-

-

6.5

        Accumulated Depreciation

-

-

-0.1

    Total Intangible Fixed Assets

0.0

0.0

6.4

        Land and Construction

12.2

12.1

7.5

        Technical Installations and Machinery

1.0

1.2

1.8

        Other Installations, Tools, and Furniture

1.5

1.8

2.9

        Other Tangible Assets

0.1

0.2

0.3

        Accumulated Depreciation

-

-

-2.5

    Total Tangible Fixed Assets

14.8

15.2

10.0

        Long-Term Securities Portfolio

0.0

0.0

0.0

        Long-Term Guarantees and Deposits

0.0

0.0

0.0

    Financial Investments

0.0

0.0

0.0

Total Fixed Assets

14.9

15.2

16.4

Deferred Expenses

-

-

2.4

        Trade Debtors

1.8

1.9

0.8

        Other Debtors

0.0

0.0

0.0

        Staff

0.0

0.0

-

        Public Bodies

0.0

0.0

0.2

        Provisions

-

-

0.0

    Total Debtors

1.9

1.9

0.9

        Short-Term Securities Portfolio

1.9

1.8

1.9

        Other Receivables

0.0

0.0

-

    Total Short-Term Investments

1.9

1.8

1.9

    Cash

0.5

0.4

0.1

Total Current Assets

4.2

4.1

2.9

Total Assets

19.1

19.3

21.7

        Legal Reserve

0.3

0.3

0.3

        Miscellaneous Reserves

2.0

2.0

2.1

    Total Reserves

2.4

2.3

2.4

        Retained Earnings

4.8

3.0

2.0

    Profit or Loss Brought Forward

4.8

3.0

2.0

    Profit or Loss for the Financial Year

0.9

1.6

1.2

Total Equity

10.2

9.0

7.8

        Loans and Other Liabilities

8.0

8.2

10.6

    Total Amounts Owed to Credit Institutions

8.0

8.2

10.6

Total Long Term Liabilities

8.0

8.2

10.6

        Loans and Other Liabilities

-

1.0

2.4

    Total Amounts Owed to Credit Institutions

-

1.0

2.4

        Amounts Owed for Purchases of Goods or Services

0.3

0.8

0.7

    Total Trade Creditors

0.3

0.8

0.7

        Public Bodies

0.3

0.2

0.1

        Bills of Exchange Payable

0.3

0.1

0.2

        Miscellaneous Debts

0.0

0.0

0.0

        Wages and Salaries Payable

-

0.0

0.0

    Total Other Creditors

0.5

0.3

0.3

Total Short Term Creditors

0.9

2.1

3.4

Total Liabilities and Equity

19.1

19.3

21.7

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.83

UK Pound

1

Rs.87.41

Euro

1

Rs.70.43

 

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.