MIRA INFORM REPORT

 

 

Report Date :

12.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SISTEMAS DE EMBALAJE ANPER SA

 

 

Registered Office :

Calle Progres (Pol Industrial Los Massotes), 47, 08850 Gava  Barcelona

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

22.04.1996

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of containers of paper & paperboard, & other related art.

 

 

No. of Employees :

20

 

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

 

Maximum Credit Limit :

115.000,00 €

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

Note:

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

 

 

EXECUTIVE SUMMARY

 

Identification

Current Business Name: SISTEMAS DE EMBALAJE ANPER SA

Other names:  YES

Current Address:  CALLE PROGRES (POL INDUSTRIAL LOS MASSOTES), 47

08850 GAVA BARCELONA 

Branches:  2

Telephone number: 936381200 Fax: 936380237

URL:  www.anper.es  , www.cintasdeseguridad.es  

Corporate e-mail:  info@anper.es  

 

Trade Risk

 

Credit appraisal: 115.000,00 €

Incidents:  NO

 

 

Financial Information

Balance sheet latest sales (2010): 3.961.338,10 € (Mercantile Register)

Result: 102.211,36 €

Total Assets: 1.898.054,59 €

Share capital:  60.101,21 €

Employees:  20

Listed on a Stock Exchange: NO

 

 

Commercial Information

 

Incorporation date:  22/04/1996

Activity:  Mfg. of containers of paper & paperboard, & other related art.

NACE 2009 CODE: 1721

International Operations:  Imports

 

Corporate Structure

 

Joint and Several Administrator: 

 LORENTE GARGALLO, ASCENSION

 

Other Complementary Information

 

Latest act published in BORME:  21/12/2011 Change of registered address

Bank Entities:  There are

 

 

Financial situation

 

Exercise:2010

 

Evolution            

 

Treasury

 

 

Excellent

 

 

Indebtedness

 

 

Slight

 

 

Profitability

 

 

Average

 

 

Balance

 

 

Excellent

 

 

 

Performance

 

Incidents

 

 

None or Negligible

Business Trajectory

 

 

Superior

 

Rating Explanation

 

Financial situation

•          The company’s financial situation is good.

•          The company’s financial situation evolution has been positive.

•          The sales evolution and results has been positive.

Company Structure

•          The company’s capitalization degree determines that its structure is normal.

•          The company’s size is  small depending on its sales volume.

•          The employees evolution has been positive.

Performance and Incidences

•          The available information indicates that the company does not have payment incidences.

•          He have detected no recent legal actions or claims from the Administration against this company.

Accounts Filing

•          The company files regularly its accounts.

 

 

INCIDENTS

 

Summary

LEGAL ACTIONS: No legal actions registered

ADMINISTRATIVE CLAIMS: No administrative claims registered

AFFECTED BY: No significant element.

 

 

FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE

  

FINANCIAL ELEMENTS

  

Balance-sheet analysis

Figures given in €

 

31/12/2010

(12)

 

%

ASSETS

 

31/12/2009

(12)

 

%

ASSETS

 

31/12/2008

(12)

 

%

ASSETS

 

ASSETS

 

 

 

 

 

 

A) NON CURRENT ASSETS

147.392,68

7,77

126.369,89

8,26

109.700,01

7,95

B) CURRENT ASSETS

1.750.661,91

92,23

1.404.005,07

91,74

1.269.615,97

92,05

LIABILITIES

 

 

 

 

 

 

A) NET WORTH

911.776,00

48,04

809.564,64

52,90

740.994,66

53,72

B) NON CURRENT LIABILITIES

67.982,82

3,58

22.297,03

1,46

35.854,01

2,60

C) CURRENT LIABILITIES

918.295,77

48,38

698.513,29

45,64

602.467,31

43,68

 

 

 

 

 

 

  A) NON CURRENT ASSETS

  B) CURRENT ASSETS

 

  A) NET WORTH

  B) NON CURRENT LIABILITIES

  C) CURRENT LIABILITIES

 

 

 

Balance Sheet Comments

Total assets of the company  grew in 24,03%  between 2.009 and 2.010.

This growth has been inferior in the case of the non current assets that increased just in  16,64%.

This growth has been mainly financed with a debt increase of 36,83%. Nevertheless Net Worth grew 12,63%.

Total assets of the company  grew in 10,95%  between 2.008 and 2.009.

This growth is a consequence of non current assets increase in 15,20%.

This growth has been mainly financed with a debt increase of 12,92%. Nevertheless Net Worth grew 9,25%.

 

Profit and loss account analysis

Figures given in €

 

31/12/2010

(12)

 

% NET TURNOVER

31/12/2009

(12)

 

% NET TURNOVER

31/12/2008

(12)

 

% NET TURNOVER

SALES

3.961.338,10

 

3.129.330,98

 

2.920.386,88

 

GROSS MARGIN

1.152.224,74

29,09

1.097.915,81

35,08

993.666,55

34,03

EBITDA

168.610,66

4,26

131.829,64

4,21

131.301,86

4,50

EBIT

135.294,25

3,42

84.662,50

2,71

71.659,07

2,45

NET RESULT

102.211,36

2,58

68.569,98

2,19

52.672,26

1,80

EFFECTIVE TAX RATE (%)

20,19

0,00

20,00

0,00

25,00

0,00

 

Profit and Loss Account Comments

The company’s sales figure  grew in 26,59% between 2.009 and 2.010.

The company’s EBIT  grew in 59,80% between 2.009 and 2.010.

This evolution implies an increase in the company’s economic profitability .

The result of these variations is an increase of the company’s Economic Profitability of 7,90% in the analysed period, being equal to 8,88% in the year 2.010.

The Net Result of the company  grew in 49,06% between 2.009 and 2.010.

The company’s Financial Profitability has been negatively affected by the financial activities in comparison with EBITs behaviour .

The result of these variations is an increase of the company’s Economic Profitability of 32,67% in the analysed period, being equal to 14,05% in the year 2.010 .

The company’s sales figure  grew in 7,15% between 2.008 and 2.009.

The company’s EBIT  grew in 18,15% between 2.008 and 2.009.

This evolution implies an increase in the company’s economic profitability .

The result of these variations is a decrease of the company’s Operating Profitability of 13,55% in the analysed period, being this profitability of 8,23% in the year 2.009.

The Net Result of the company  grew in 30,18% between 2.008 and 2.009.

The company’s Financial Profitability has been positively affected by the financial activities in comparison with EBITs behaviour .

The result of these variations is an increase of the company’s Economic Profitability of 11,71% in the analysed period, being equal to 10,59% in the year 2.009 .

 

COMPARATIVE SECTOR ANALYSIS

 

Values table

Figures expressed in %

 

COMPANY

(2010)

 

SECTOR

DIFFERENCE

 

 

 

 

BALANCE SHEET ANALYSIS: % on the total assets

 

 

 

 

 

 

 

ASSETS

 

 

 

 

A) NON CURRENT ASSETS

7,77

44,83

-37,06

 

 

 

 

A) CURRENT ASSETS

92,23

55,17

37,06

 

 

 

 

LIABILITIES

 

 

 

 

A) NET WORTH

48,04

47,15

0,89

 

 

 

 

B) NON CURRENT LIABILITIES

3,58

17,73

-14,14

 

 

 

 

C) CURRENT LIABILITIES

48,38

35,13

13,25

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPANY

(2010)

 

SECTOR

DIFFERENCE

 

 

 

 

PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income

 

 

 

 

 

 

 

SALES

99,91

99,49

0,42

 

 

 

 

GROSS MARGIN

29,06

44,71

-15,65

 

 

 

 

EBITDA

4,25

8,84

-4,59

 

 

 

 

EBIT

3,41

3,76

-0,35

 

 

 

 

NET RESULT

2,58

1,97

0,61

 

 

 

 

 

Sector Composition

Compared sector (NACE 2009): 1721

Number of companies: 38

Size (sales figure): 2,800,000.00 - 7,000,000.00 Euros

 

Comments on the sectorial comparative

Compared to its sector the assets of the companies show  an inferior proportion of non current assets. Specifically the difference with the sector average is -37,06% .

In liabilities composition the company turns to on a wider scale to self financing, being the proportion of Net Worth of 0,89% major. As a consequence, external financing sources are less used by the company ( 0,89% less than the sector) .

The proportion that the sales mean to the company’s total ordinary income is 99,91% , an 0,42% higher than in the sector .

The company’s EBIT was positive and was 3,41% with regard to the total ordinary income, 0,35% inferior to the one of the sector .

The company’s capacity to generate operating income is inferior to that of the sector as its ratio EBIT/Sales is inferior (0,03 in comparison with 0,04) .

The company’s net result was positive and equal to 2,58% with regard to the total ordinary income, 0,61% superior to the one of the sector .

The financial results and the tax impact have had a less negative impact on the net result of the company that in the sector .

 

OTHER DATA FROM THE ANNUAL FINANCIAL REPORT

Results Distribution

Source: annual financial report 2010

Figures given in €

DISTRIBUTION BASE

APPLICATION A

Profit and Loss Account Balance

102.211,36

Legal Reserve

0,00

Carry over

0,00

Goodwill reserve

0,00

Voluntary reserves

0,00

Special reserves

0,00

Other reserves disposable at will

0,00

Voluntary reserves

102.211,36

Total of Amounts to be distributed

102.211,36

Dividends

0,00

 

 

Carry over and others

0,00

 

 

Compensation of previous exercises losses

0,00

 

 

Application total

102.211,36

 

company ADDRESSES

   

Business address

 

Current Legal Seat Address: 

CALLE PROGRES (POL INDUSTRIAL LOS MASSOTES), 47

08850 GAVA  BARCELONA

 

Previous Seat Address: 

CALLE OFICIS (PG IND MOSSOTES) 13 -15

08850 GAVA  BARCELONA

Branches

STREET

POSTAL CODE

TOWN

PROVINCE

CALLE CUNIT, 6

08850

GAVA

Barcelona

CALLE PROGRES (PG IND MOSSOTES), 45 - - 47

08850

GAVA

Barcelona

There are 2 branches registered

 

CORPORATE STRUCTURE

  

ADMINISTRATIVE LINKS

 

Summary

 

 

 

 

Distribution of the administration board

 

Governing body : 2 members (latest change: 10/01/2007)

Operative Board Members : 5 (latest change: 25/03/2010)

Non-current positions : 1 (latest change: 10/01/2007)

 

 

  Men (50%)

  Women (50%)

 

 

Main Board members, Directors and Auditor

Governing body

POSITION

NAME AND SURNAME

DATE 

APPOINTMENT

JOINT AND SEVERAL ADMINISTRATOR

LORENTE GARGALLO, ASCENSION

10/01/2007

JOINT AND SEVERAL ADMINISTRATOR

PEREZ LASHERAS, ANTONIO MANUEL

10/01/2007

 

 

 

There are 2 board members, directors and auditors registered

 

Functional Managers

POSITION

NAME AND SURNAME

General Manager

PEREZ LASHERAS, ANTONIO MANUEL

Financial Manager

LORENTE GARGALLO, ASCENSION

Human Resources Director

LORENTE GARGALLO, ASCENSION

Commercial Director

PEREZ, INAKI

Quality Director

PEREZ, JAVIER

FINANCIAL LINKS

 

Shareholders

 

BUSINESS NAME

TAX NUMBER/COUNTRY

%

SOURCE

DATE REP.

 

LORENTE GARGALLO ASCENSION

 

50,00

OWN SOURCES

05/10/2011

 

PEREZ LASHERAS ANTONIO MANUEL

 

50,00

OWN SOURCES

05/10/2011

There are 2 direct financial links through shareholders registered

 

  

BUSINESS INFORMATION

  

Constitution

Incorporation date: 22/04/1996

 

Activity

Activity: Mfg. of containers of paper & paperboard, & other related art.

NACE 2009 CODE: 1721

NACE 2009 Activity: Manufacture of corrugated paper and paperboard and of containers of paper and paperboard

Business: LA IMPORTACION, COMPRA Y COMERCIALIZACION DE SISTEMAS DE EMBALAJE.

Activity description: Fabricaciσn y venta de sistemas de embalaje mediante la manipulaciσn e impresiσn de todo tipo de cintas autoadhesivas, asν como venta de Precinto neutro, Papel kraft ecolσgico, Strapping, Lαminas autoadhesivas, Film estirable, etc.

 

Employees

Latest employees figure: 20 (2011)

% of fixed employees: 100,00%

 

Employees evolution

 

 

 

 

COMMERCIAL OPERATIONS

 

SUPPLIERS

BUSINESS NAME

INTERNATIONAL

MANULI

YES

There are 1 Suppliers

  

Banks

ENTITY

BRANCH

ADDRESS

TOWN OR CITY

PROVINCE

BANCO POPULAR ESPAΡOL, S.A.

0851

CTRA. STA. CREU CALAFELL,36

GAVA

Barcelona

BANCO DE SABADELL, S.A.

0008

RB VAYREDA 000051

GAVA

Barcelona

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

5421

RAMBLA VAYREDA, 25

GAVA

Barcelona

There are 3 bank entities registered

 

Brands

Brand name: CLICKEMBALAJE.COM NECESIDADES DE EMBALAJE A UN CLICK DE DISTANCIA (Valid)

Type: JOINT    Scope: NATIONAL    Date: 21/01/2011

There are 1 brands, signs and commercial names

 

LEGAL STRUCTURE

 

Constitution Data

Register Date: 22/04/1996

Register town: Barcelona

Announcement number: 174187

 

Current structure data

Legal form: Joint-stock Company

Share capital: 60.101,21 €

Paid-up capital: 60.101,21 €

 

Legal Aspects

Obligation to fill in Financial Statements: YES

Chamber census: YES (2010)

 

B.O.R.M.E.

(OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)

  

Summary

  Acts on activity: 0

  Acts on administrators: 6 (Last: 21/12/2011, first: 31/05/1996)

  Acts on capital: 0

  Acts on creation: 1 (Last: 31/05/1996)

  Acts on filed accounts: 15 (Last: 21/09/2011, first: 09/10/1997)

  Acts on identification: 1 (Last: 21/12/2011)

  Acts on Information: 0

 

Latest acts in B.O.R.M.E.

Most relevant acts of the last twelve months

ACT

DATE

NOTICE NUM.

MERCANTILE REGISTER

Change of registered address

21/12/2011

507179

Barcelona

Annual Filed Accounts (2010)

21/09/2011

571583

Barcelona

 

Other acts

ACT

DATE

NOTICE NUM.

MERCANTILE REGISTER

Appointments

21/12/2011

507179

Barcelona

Annual Filed Accounts (2009)

21/09/2010

619215

Barcelona

Annual Filed Accounts (2008)

27/08/2009

273974

Barcelona

Annual Filed Accounts (2007)

25/08/2008

312299

Barcelona

Annual Filed Accounts (2006)

05/09/2007

366755

Barcelona

Appointments

10/01/2007

16129

Barcelona

Resignations

10/01/2007

16129

Barcelona

Annual Filed Accounts (2005)

06/09/2006

328519

Barcelona

 There are 23 acts registered

 

 

ADDITIONAL INFORMATION

  

This company has been consulted was last displayed on 07/06/2012, 9 times in the last quarter and 493 total times.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.24

UK Pound

1

Rs.85.93

Euro

1

Rs.69.82

 

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.