MIRA INFORM REPORT

 

 

Report Date :

13.06.2012

 

IDENTIFICATION DETAILS

 

Name :

COMPANIA INTERNACIONAL PARA LA FINANCIACION DE LA DISTRIBUCION SA

 

 

Registered Office :

Av. Mare De Deu De Montserrat, 87 Olerdola, 08799

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1985

 

 

Com. Reg. No.:

A58028655

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Retail sale via mail order houses or via Internet

 

 

No. of Employees :

467

 

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 and address

 

Top of Form

Bottom of Form

Compañia Internacional Para La Financiacion De La Distribucion Sa       

           

 

Av. Mare De Deu De Montserrat, 87

 

 

Olerdola, 08799

Spain

 

Tel:

+(34) 938140909

Fax:

+(34) 938938000

 

www.venca.es

 

Employees:

467

Company Type:

Public Subsidiary

 

 

Incorporation Date:

1985

Auditor:

Kpmg Auditores Sl

Financials in:

USD (mil)

 

 

Fiscal Year End:

12-Apr-2011

Reporting Currency:

Euro

Annual Sales:

85.7  1

Net Income:

0.0

Total Assets:

46.0

                                         

Business Description          

 

Retail sale via mail order houses or via Internet

    

Industry                                              

 

Industry

Retail (Catalog and Mail Order)

ANZSIC 2006:

4310 - Non-Store Retailing

NACE 2002:

5261 - Retail sale via mail order house

NAICS 2002:

454113 - Mail-Order Houses

UK SIC 2003:

5261 - Retail sale via mail order house

US SIC 1987:

5961 - Catalog and Mail-order Houses

 

 Key Executives          

   

 

Name

Title

Franz Hermanns

Member Of The Board, President, Chief Executive Officer

Paz Usandizaga

Financial Director

Marta Alemany Castell

Non Consellor Secretary, Lawyer (Adviser)

Madelein Rouseut

Commercial Manager

International Sa 3 Suisses

Member Of The Board

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7557294
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6898931

 

 

Corporate Overview

 

Location
Av. Mare De Deu De Montserrat, 87
Olerdola, 08799
Spain

 

Tel:

+(34) 938140909

Fax:

+(34) 938938000

 

www.venca.es

Sales EUR(mil):

64.8

Assets EUR(mil):

31.7

Employees:

467

Fiscal Year End:

12-Apr-2011

 

Industry:

Retail (Catalog and Mail Order)

Incorporation Date:

1985

Company Type:

Public Subsidiary

Quoted Status:

Not Quoted

Registered No.(ESP):

A58028655

 

Member Of The Board, President, Chief Executive Officer:

Franz Hermanns

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

4310

-

Non-Store Retailing

 

NACE 2002 Codes:

5261

-

Retail sale via mail order house

 

NAICS 2002 Codes:

454113

-

Mail-Order Houses

 

US SIC 1987:

5961

-

Catalog and Mail-order Houses

 

UK SIC 2003:

5261

-

Retail sale via mail order house

 

 

Business Description

Retail sale via mail order houses or via Internet

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

64.8

Net Income:

0.0

Assets:

31.7

Current Assets:

28.0

 

Fixed Assets:

3.7

 

Long Term Debt:

0.0

 

Total Liabilities:

31.7

 

Issued Capital:

0.5

 

Net Worth:

0.3

 

 

 

Date of Financial Data:

12-Apr-2011

 

1 Year Growth

-27.1%

NA

NA

 

 

Key Corporate Relationships

Auditor:

Kpmg Auditores Sl

Bank:

Banco Santander Central Hispano, S.A., Caja De Ahorros Y Pensiones De Barcelona, Caixa D'Estalvis De Catalunya (Caixa Catalunya), Bnp Paribas España, S.A.

 

Auditor:

Kpmg Auditores Sl

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

International Sa 3 Suisses

 

Member Of The Board

Director/Board Member

Eric Faintreny

 

Member Of The Board

Director/Board Member

Franz Hermanns

 

Member Of The Board, President, Chief Executive Officer

Director/Board Member

Blain Jacques

 

Administrator

Director/Board Member

 

Executives

 

Name

Title

Function

Franz Hermanns

 

Member Of The Board, President, Chief Executive Officer

Chief Executive Officer

Gonzalez Jordi

 

Managing Director

Managing Director

Marta Alemany Castell

 

Non Consellor Secretary, Lawyer (Adviser)

Administration Executive

Blain Jacques

 

Administrator

Administration Executive

Paz Usandizaga

 

Financial Director

Finance Executive

Madelein Rouseut

 

Commercial Manager

Commercial Executive

Societe Anonyme Commerce Btoc

 

Single Partner

Partner

 

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

106.1

150.3

156.3

    Supplies

39.1

57.3

87.5

        Goods Consumption

38.1

55.9

60.3

        Consumption of Raw Materials

1.0

1.4

3.1

        Miscellaneous External Expenditures

-

-

24.1

    Staff Costs

18.5

21.5

19.8

        Wages and Salaries

14.4

16.6

15.3

        Social Security Costs

4.1

4.9

4.4

    Depreciation

1.0

1.0

0.9

    Allowance for Trade Operations

0.1

1.1

-1.1

        Stock Provision Variation

-1.0

0.1

-0.7

        Losses from Unrecovered Receivables

1.1

1.0

-0.4

    Other Operating Charges

46.5

67.1

46.9

        External Services

46.2

66.8

43.7

        Taxes

0.2

0.4

0.3

        Other Operating Expenses

-

-

2.8

    Financials and Similar Charges

0.9

1.8

1.1

        Due to Liabilities With Group Companies

0.8

1.7

1.1

        Due to Other Liabilities

0.0

0.1

0.0

    Changes in Financial Investment Provisions

-

0.1

-

    Exchange Losses

0.5

0.2

1.0

    Losses From Assets and Securities Portfolio

0.0

0.0

0.0

    Extraordinary Expenses

-

0.0

0.1

    Expenses and Losses From Previous Years

-

-

0.1

Extraordinary Profit

-

-

0.1

    Corporation Tax

-0.4

0.1

0.2

Income

91.6

133.0

152.4

    Net Total Sales

90.1

130.7

142.1

        Sales

84.8

122.4

142.1

        Rendering of Services

5.3

8.3

-

    Miscellaneous Operating Income

1.5

2.2

9.4

        Auxiliary Income From Current Management

1.4

2.0

9.4

        Grants

0.0

0.0

-

        Charges for Provisions

0.0

0.2

-

Operating Losses

13.6

15.2

2.4

    Income From Other Securities and Receivables

0.0

0.0

0.1

        From Non-Group Companies

0.0

0.0

0.1

    Income From Miscellaneous Interests

0.0

0.0

0.5

        From Group Companies

-

-

0.0

        Miscellaneous Interests

0.0

0.0

0.5

    Gains from Exchange Rate

-

-

0.1

Negative Financial Results

1.4

2.0

1.4

Ordinary Activities' Losses

15.0

17.2

3.8

    Extraordinary Income

0.0

-

0.2

    Income and Profit From Previous Years

-

-

0.0

Negative Extraordinary Results

0.0

0.0

-

Losses Before Taxes

15.0

17.2

3.7

Financial Year Result (Losses)

14.5

17.1

3.9

 

 

 

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

 

 

 

 

        Concessions, Patents, Trademarks

-

-

5.1

        Goodwill

-

-

3.0

        Accumulated Depreciation

-

-

-8.1

        Technical Installations and Machinery

2.3

2.4

7.2

        Other Installations, Tools, and Furniture

1.7

1.8

5.3

        Tangible Fixed Assets Under Construction

0.1

0.3

0.0

        Other Tangible Assets

1.0

1.1

3.2

        Accumulated Depreciation

-

-

-10.1

    Total Tangible Fixed Assets

5.2

5.5

5.8

        Investments in Group Companies

0.1

0.1

0.2

        Long-Term Guarantees and Deposits

0.1

0.1

0.3

    Financial Investments

0.1

0.1

0.4

Total Fixed Assets

5.3

5.6

6.2

        Goods for Resale

20.5

29.1

40.0

        Raw Materials and Other Consumables

0.6

0.8

0.9

        Payments on Account

0.7

0.6

1.4

        Provisions

-

-

-3.7

    Total Stocks

21.9

30.5

38.6

        Trade Debtors

8.8

10.8

10.2

        Receivables, Group Companies

1.9

3.3

3.5

        Other Debtors

1.3

1.6

1.9

        Staff

0.0

0.0

0.0

        Public Bodies

0.9

0.5

0.8

        Provisions

-

-

-0.6

    Total Debtors

13.0

16.3

15.9

        Receivables from Group Companies

0.0

0.0

0.0

        Short-Term Securities Portfolio

3.6

-

-

        Short-Term Guarantees and Deposits

0.2

0.3

-

    Total Short-Term Investments

3.8

0.3

0.0

    Cash

1.4

5.7

2.8

    Prepayments and Accrued Income

0.1

5.5

8.1

Total Current Assets

40.2

58.3

65.4

Total Assets

45.5

63.9

71.6

        Legal Reserve

0.1

1.2

1.2

        Miscellaneous Reserves

-6.5

0.4

0.4

        Capital Adjustment to Euros

0.0

0.0

0.0

    Total Reserves

-6.5

1.6

1.6

        Retained Earnings

21.2

8.0

-

    Profit or Loss Brought Forward

21.2

8.0

-

    Profit or Loss for the Financial Year

-15.0

-16.2

-4.2

Total Equity

0.5

-0.8

3.6

        Provisions for Pension Fund

0.8

0.9

1.4

        Other Provisions

0.1

0.0

0.4

Total Provisions for Liabilities and Charges

0.9

0.9

1.8

        Long-Term Payables to Public Bodies

-

0.2

-

    Total Other Creditors

-

0.2

-

Total Long Term Liabilities

-

0.2

-

        Loans and Other Liabilities

-

0.0

-

    Total Amounts Owed to Credit Institutions

-

0.0

-

        Amounts Owed to Group Companies

31.6

42.8

36.3

    Total Short-Term Amounts Owed to Group and Associa

31.6

42.8

36.3

        Advanced Payments from Customers

0.6

0.8

-

        Amounts Owed for Purchases of Goods or Services

7.2

15.6

15.2

        Debts Represented by Notes Payable

-

-

11.2

    Total Trade Creditors

7.7

16.4

26.4

        Public Bodies

1.2

1.1

0.9

        Miscellaneous Debts

0.0

0.3

0.1

        Wages and Salaries Payable

1.3

1.4

1.7

    Total Other Creditors

2.5

2.8

2.7

    Provisions

2.3

1.6

0.8

Total Short Term Creditors

44.1

63.6

66.2

Total Liabilities and Equity

45.5

63.9

71.6

 

 

Bottom of Form

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.05

UK Pound

1

Rs.86.69

Euro

1

Rs.69.98

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.