MIRA
INFORM REPORT
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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ACEROS BERGARA SA |
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Registered Office : |
Amilaga Kalea, 24, Bergara, 20570 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
1983 |
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Com. Reg. No.: |
A20079794 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacture of basic metals like, Rolling and Drawing of Purchased
Steel. |
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No. of Employees : |
120 |
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
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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 and address
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Aceros Bergara Sa |
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Employees: |
120 |
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Company Type:
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Public Independent |
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Incorporation
Date: |
1983 |
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Auditor: |
Deloitte S.L. |
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Fiscal Year End:
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22-Feb-2012 |
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Reporting
Currency: |
Euro |
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Annual Sales:
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148.7 1 |
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Net Income: |
0.8 |
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Total Assets:
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107.4 |
Business Description
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Rolling and Drawing of Purchased Steel |
Industry
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Industry |
Miscellaneous
Fabricated Products |
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ANZSIC 2006: |
211 - Basic
Ferrous Metal Manufacturing |
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NACE 2002: |
273 - Other
first processing of iron and steel |
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NAICS 2002: |
33122 - Rolling
and Drawing of Purchased Steel |
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UK SIC 2003: |
273 - Other
first processing of iron and steel |
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US SIC 1987: |
3315 - Steel
Wiredrawing and Steel Nails and Spikes |
Key Executives
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Registered No.(ESP)
A20079794
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7228991
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7542806
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Industry
Codes
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Business
Description
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Financial
Data
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Branch
Offices
Location
CerĂ mica (Pol. Ind. Sud Magarola), 9
Esparreguera, 8292
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Tel: |
+(34) 937708262 |
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Location
Vila Madrid, 28
Paterna, 46980
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Tel: |
+(34) 961340061 |
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Key Corporate Relationships
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Executives Report
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Charges |
142.3 |
118.8 |
275.5 |
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Supplies |
124.0 |
105.1 |
240.1 |
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Goods Consumption |
- |
- |
242.7 |
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Consumption of Raw
Materials |
124.0 |
105.1 |
-2.6 |
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Miscellaneous External
Expenditures |
0.0 |
0.0 |
0.0 |
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Staff Costs |
5.2 |
5.2 |
7.6 |
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Wages and Salaries |
4.0 |
3.9 |
6.0 |
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Social Security Costs |
1.2 |
1.3 |
1.6 |
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Depreciation |
0.9 |
1.2 |
2.6 |
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Allowance for Trade Operations |
0.2 |
-2.6 |
3.2 |
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Stock Provision
Variation |
- |
-3.1 |
3.0 |
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Losses from
Unrecovered Receivables |
0.2 |
0.6 |
0.2 |
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Other Operating Charges |
9.1 |
9.0 |
14.8 |
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External Services |
7.9 |
7.9 |
12.9 |
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Taxes |
0.2 |
0.0 |
0.0 |
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Other Operating
Expenses |
1.1 |
1.1 |
1.9 |
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Operating Benefits |
3.1 |
- |
- |
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Financials and Similar Charges |
2.4 |
2.4 |
4.6 |
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Due to Liabilities
With Group Companies |
0.1 |
0.1 |
- |
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Due to Other
Liabilities |
2.3 |
2.3 |
4.6 |
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Profit From Ordinary Activities |
1.2 |
- |
- |
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Losses From Assets and Securities Portfolio |
- |
- |
0.0 |
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Extraordinary Profit |
0.0 |
- |
- |
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Profit Before Taxes |
1.2 |
- |
- |
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Corporation Tax |
0.5 |
-1.5 |
2.5 |
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Financial Year Result (Profit) |
0.7 |
- |
- |
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Income |
143.0 |
115.4 |
264.4 |
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Net Total Sales |
142.4 |
114.6 |
263.4 |
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Sales |
140.7 |
113.8 |
263.2 |
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Rendering of Services |
2.7 |
1.6 |
2.1 |
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Sales Refunds |
-1.0 |
-0.8 |
-1.9 |
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Miscellaneous Operating Income |
0.1 |
0.1 |
0.1 |
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Auxiliary Income From
Current Management |
0.1 |
0.1 |
0.0 |
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Grants |
0.0 |
0.0 |
0.0 |
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Operating Losses |
- |
3.3 |
4.9 |
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Income From Miscellaneous Interests |
0.5 |
0.6 |
0.5 |
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From Group Companies |
0.4 |
0.5 |
0.3 |
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Miscellaneous
Interests |
0.1 |
0.1 |
0.2 |
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Gains from Exchange Rate |
0.0 |
0.1 |
0.5 |
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Negative Financial Results |
1.9 |
1.7 |
3.6 |
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Ordinary Activities' Losses |
- |
5.0 |
8.5 |
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Profit on Disposal of Assets |
0.0 |
- |
- |
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Negative Extraordinary Results |
- |
- |
0.0 |
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Losses Before Taxes |
- |
5.0 |
8.5 |
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Financial Year Result (Losses) |
- |
3.5 |
6.0 |
Annual Balance Sheet
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Concessions, Patents,
Trademarks |
0.0 |
0.0 |
0.0 |
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Software |
0.1 |
0.1 |
0.1 |
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Total Intangible Fixed Assets |
0.1 |
0.1 |
0.1 |
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Land and Construction |
0.3 |
0.4 |
0.3 |
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Technical
Installations and Machinery |
4.6 |
5.5 |
5.5 |
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Other Installations,
Tools, and Furniture |
1.1 |
1.3 |
1.3 |
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Tangible Fixed Assets
Under Construction |
0.3 |
0.3 |
0.4 |
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Other Tangible Assets |
0.6 |
0.7 |
0.7 |
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Total Tangible Fixed Assets |
6.8 |
8.1 |
8.3 |
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Investments in Group
Companies |
10.5 |
10.5 |
7.0 |
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Receivables from Group
Companies |
13.2 |
12.0 |
13.8 |
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Long-Term Securities
Portfolio |
0.0 |
0.0 |
- |
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Long-Term Guarantees
and Deposits |
1.0 |
0.4 |
0.5 |
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Financial Investments |
24.7 |
22.9 |
21.2 |
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Total Fixed Assets |
31.6 |
31.1 |
29.7 |
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Raw Materials and
Other Consumables |
14.7 |
6.5 |
7.5 |
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Goods in Process |
0.4 |
0.3 |
0.3 |
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Finished Products |
15.4 |
17.2 |
19.0 |
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Total Stocks |
30.5 |
24.0 |
26.8 |
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Trade Debtors |
19.4 |
15.3 |
20.2 |
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Receivables, Group
Companies |
21.7 |
25.3 |
30.1 |
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Other Debtors |
0.6 |
0.9 |
0.6 |
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Public Bodies |
3.6 |
4.1 |
2.4 |
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Total Debtors |
45.2 |
45.7 |
53.3 |
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Receivables from Group
Companies |
0.3 |
- |
- |
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Short-Term Securities
Portfolio |
0.5 |
0.0 |
- |
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Other Receivables |
- |
- |
0.2 |
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Total Short-Term Investments |
0.9 |
0.0 |
0.2 |
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Cash |
0.4 |
2.7 |
2.9 |
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Prepayments and Accrued Income |
0.1 |
0.1 |
- |
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Total Current Assets |
77.0 |
72.5 |
83.3 |
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Total Assets |
108.6 |
103.7 |
113.0 |
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Legal Reserve |
0.9 |
1.0 |
0.9 |
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Miscellaneous Reserves |
4.8 |
5.1 |
4.7 |
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Total Reserves |
5.7 |
6.0 |
5.7 |
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Prior Year Losses |
-8.8 |
-5.8 |
- |
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Profit or Loss Brought Forward |
-8.8 |
-5.8 |
- |
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Profit or Loss for the Financial Year |
0.7 |
-3.6 |
-5.7 |
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Total Equity |
13.0 |
13.1 |
16.0 |
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Loans and Other
Liabilities |
14.9 |
26.2 |
10.1 |
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Total Amounts Owed to Credit Institutions |
14.9 |
26.2 |
10.1 |
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Amounts Owed to Group
Companies |
2.7 |
2.8 |
- |
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Total Debts with Group or Affiliated Companies |
2.7 |
2.8 |
- |
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Long-Term Payables to
Public Bodies |
0.3 |
0.4 |
0.4 |
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Total Other Creditors |
0.3 |
0.4 |
0.4 |
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Total Long Term Liabilities |
17.9 |
29.4 |
10.5 |
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Loans and Other
Liabilities |
32.6 |
26.0 |
46.1 |
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Total Amounts Owed to Credit Institutions |
32.6 |
26.0 |
46.1 |
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Amounts Owed to Group
Companies |
4.2 |
4.0 |
2.3 |
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Total Short-Term Amounts Owed to Group and
Associa |
4.2 |
4.0 |
2.3 |
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Amounts Owed for
Purchases of Goods or Services |
40.1 |
30.5 |
36.5 |
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Total Trade Creditors |
40.1 |
30.5 |
36.5 |
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Public Bodies |
0.5 |
0.5 |
0.6 |
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Wages and Salaries
Payable |
0.2 |
0.3 |
0.9 |
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Total Other Creditors |
0.8 |
0.8 |
1.5 |
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Prepayments and Accrued Income |
- |
- |
0.2 |
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Total Short Term Creditors |
77.7 |
61.2 |
86.5 |
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Total Liabilities and Equity |
108.6 |
103.7 |
113.0 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.91 |
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1 |
Rs.86.03 |
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Euro |
1 |
Rs.69.12 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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 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.