MIRA
INFORM REPORT
|
Report Date : |
03.03.2012 |
IDENTIFICATION DETAILS
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Name : |
HIPERCOR SA |
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Registered Office : |
Cl. Hermosilla, 112 Madrid, 28009 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1979 |
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Com. Reg. No.: |
A28642866 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Department Stores |
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No. of Employees : |
14,727 |
RATING & COMMENTS
|
MIRAs Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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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) |
|
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
Hipercor Sa
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Business
Description
|
Operation of hypermarkets offering a wide range of food, fashion,
household goods and accessories, leisure goods, furniture, electrical
appliances; cafeteria and parking facilities; opticians; travel agency |
ndustry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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US SIC 1987: |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7586022
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7155635
Corporate Overview
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Corporate Structure News
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Hipercor Sa |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Madrid |
Spain |
Retail (Department and Discount) |
14,835.5 |
61,507 |
|
|
Subsidiary |
Madrid |
Spain |
Retail (Department and Discount) |
3,436.1 |
14,727 |
|
|
Subsidiary |
Madrid |
Spain |
Personal Services |
2,611.8 |
4,705 |
|
|
Subsidiary |
Lisboa |
Portugal |
Retail (Department and Discount) |
537.6 |
3,240 |
|
|
Subsidiary |
Madrid |
Spain |
Retail (Grocery) |
513.3 |
3,132 |
|
|
Subsidiary |
Madrid |
Spain |
Retail (Grocery) |
540.2 |
2,789 |
|
|
Subsidiary |
Madrid |
Spain |
Computer Services |
704.1 |
2,545 |
|
|
Subsidiary |
Madrid |
Spain |
Retail (Technology) |
354.4 |
798 |
|
|
Subsidiary |
Madrid |
Spain |
Retail (Apparel) |
239.0 |
1,603 |
|
|
Subsidiary |
Madrid |
Spain |
Consumer Financial Services |
|
800 |
|
|
Subsidiary |
Mostoles, Madrid |
Spain |
Construction - Supplies and Fixtures |
190.1 |
684 |
|
|
Subsidiary |
Villarrubia De Santiago, Toledo |
Spain |
Construction - Supplies and Fixtures |
5.6 |
47 |
|
|
Subsidiary |
Parla, Madrid |
Spain |
Furniture and Fixtures |
8.2 |
18 |
|
|
Subsidiary |
Madrid |
Spain |
Miscellaneous Capital Goods |
3.8 |
13 |
|
|
Centro De Seguros Y Servicios Correduria De Seguros
Sa Grupo De Seguros El Corteingles |
Subsidiary |
Madrid |
Spain |
Investment Services |
71.5 |
670 |
|
Subsidiary |
Madrid |
Spain |
Construction Services |
31.2 |
245 |
|
|
Subsidiary |
Madrid |
Spain |
Insurance (Life) |
|
120 |
|
|
Subsidiary |
Madrid |
Spain |
Printing and Publishing |
3.7 |
11 |
Executives Report
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Annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
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|
|
|
|
Charges |
3,504.1 |
4,298.6 |
4,843.8 |
|
Supplies |
2,446.8 |
3,000.3 |
3,391.1 |
|
Goods Consumption |
2,419.6 |
2,958.6 |
3,274.3 |
|
Consumption of Raw
Materials |
16.1 |
23.9 |
30.4 |
|
Miscellaneous External
Expenditures |
11.2 |
17.9 |
86.4 |
|
Staff Costs |
457.9 |
614.8 |
666.4 |
|
Wages and Salaries |
349.9 |
468.1 |
509.0 |
|
Social Security Costs |
108.0 |
146.7 |
157.4 |
|
Depreciation |
135.8 |
152.2 |
160.7 |
|
Allowance for Trade Operations |
-0.3 |
1.2 |
7.7 |
|
Stock Provision
Variation |
-0.1 |
1.2 |
0.4 |
|
Losses from
Unrecovered Receivables |
0.0 |
0.0 |
0.0 |
|
Variation of Other
Trade Provisions |
-0.2 |
-0.1 |
7.4 |
|
Other Operating Charges |
423.9 |
474.3 |
510.6 |
|
External Services |
336.5 |
399.5 |
425.4 |
|
Taxes |
25.0 |
25.5 |
25.5 |
|
Other Operating
Expenses |
62.4 |
49.3 |
59.7 |
|
Operating Benefits |
122.7 |
198.0 |
310.1 |
|
Financials and Similar Charges |
3.0 |
4.3 |
4.8 |
|
Due to Liabilities With
Group Companies |
0.2 |
0.3 |
- |
|
Due to Other
Liabilities |
2.9 |
4.1 |
4.8 |
|
Changes in Financial Investment Provisions |
0.1 |
- |
- |
|
Exchange Losses |
0.1 |
- |
- |
|
Net Financial Income |
2.5 |
- |
6.3 |
|
Profit From Ordinary Activities |
125.2 |
197.5 |
316.4 |
|
Extraordinary Expenses |
- |
- |
3.1 |
|
Extraordinary Profit |
7.6 |
10.1 |
12.3 |
|
Profit Before Taxes |
132.8 |
207.6 |
328.7 |
|
Corporation Tax |
36.8 |
51.6 |
99.3 |
|
Financial Year Result (Profit) |
96.0 |
156.0 |
229.4 |
|
Income |
3,600.2 |
4,454.6 |
5,073.2 |
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Net Total Sales |
3,452.2 |
4,323.5 |
4,920.6 |
|
Sales |
3,553.3 |
4,492.4 |
5,147.5 |
|
Rendering of Services |
143.2 |
140.0 |
127.0 |
|
Sales Refunds |
-244.3 |
-308.9 |
-353.9 |
|
Works Performed for Fixed Assets |
12.3 |
15.5 |
16.7 |
|
Miscellaneous Operating Income |
122.4 |
101.6 |
109.4 |
|
Auxiliary Income From
Current Management |
120.5 |
99.9 |
107.2 |
|
Grants |
1.5 |
1.7 |
2.2 |
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Charges for Provisions |
0.4 |
- |
- |
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Income From Equity Investment |
5.6 |
3.2 |
- |
|
Third Parties |
5.6 |
3.2 |
- |
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Income From Other Securities and Receivables |
0.2 |
0.1 |
0.0 |
|
From Non-Group
Companies |
0.2 |
0.1 |
0.0 |
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Income From Miscellaneous Interests |
- |
0.3 |
11.1 |
|
From Group Companies |
- |
- |
11.1 |
|
Miscellaneous
Interests |
- |
- |
0.0 |
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Profit on Financial
Investment |
- |
0.3 |
- |
|
Gains from Exchange Rate |
- |
0.3 |
- |
|
Negative Financial Results |
- |
0.5 |
- |
|
Profit on Disposal of Assets |
7.6 |
10.1 |
10.8 |
|
Capital Grants Transferred to Profit and Loss |
- |
- |
0.1 |
|
Extraordinary Income |
- |
- |
4.6 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Formation Expenses |
- |
- |
25.4 |
|
Concessions, Patents,
Trademarks |
51.1 |
54.9 |
53.3 |
|
Fees Paid for Premises |
- |
0.8 |
1.3 |
|
Software |
0.0 |
0.1 |
0.3 |
|
Accumulated
Depreciation |
- |
- |
-6.4 |
|
Total Intangible Fixed Assets |
51.1 |
55.8 |
48.4 |
|
Land and Construction |
1,685.3 |
1,744.9 |
1,808.2 |
|
Technical
Installations and Machinery |
61.6 |
77.1 |
181.6 |
|
Other Installations,
Tools, and Furniture |
705.6 |
882.9 |
2,079.8 |
|
Tangible Fixed Assets
Under Construction |
127.1 |
177.8 |
167.6 |
|
Other Tangible Assets |
33.6 |
42.0 |
98.9 |
|
Accumulated
Depreciation |
- |
- |
-1,553.2 |
|
Total Tangible Fixed Assets |
2,613.2 |
2,924.6 |
2,782.9 |
|
Investments in Group
Companies |
0.2 |
0.2 |
0.2 |
|
Receivables from Group
Companies |
- |
- |
1.6 |
|
Long-Term Securities
Portfolio |
0.4 |
0.5 |
0.4 |
|
Other Receivables |
1.6 |
- |
0.0 |
|
Long-Term Guarantees
and Deposits |
- |
1.6 |
- |
|
Provisions |
- |
- |
0.0 |
|
Financial Investments |
2.2 |
2.3 |
2.2 |
|
Long-Term Trade Receivables |
- |
- |
0.3 |
|
Total Fixed Assets |
2,666.5 |
2,982.7 |
2,859.2 |
|
Goods for Resale |
253.6 |
322.2 |
303.4 |
|
Provisions |
- |
- |
-2.8 |
|
Total Stocks |
253.6 |
322.2 |
300.6 |
|
Trade Debtors |
0.4 |
0.6 |
0.9 |
|
Receivables, Group
Companies |
73.6 |
75.6 |
171.6 |
|
Other Debtors |
14.7 |
3.4 |
2.2 |
|
Public Bodies |
8.2 |
8.9 |
2.6 |
|
Provisions |
- |
- |
-0.2 |
|
Total Debtors |
97.0 |
88.5 |
177.0 |
|
Other Receivables |
- |
0.1 |
0.1 |
|
Short-Term Guarantees
and Deposits |
0.3 |
- |
0.1 |
|
Total Short-Term Investments |
0.3 |
0.1 |
0.1 |
|
Cash |
12.9 |
- |
10.0 |
|
Prepayments and Accrued Income |
3.6 |
3.9 |
10.2 |
|
Total Current Assets |
367.4 |
414.7 |
498.0 |
|
Total Assets |
3,033.9 |
3,397.4 |
3,357.2 |
|
Revaluation Reserves |
98.4 |
107.8 |
96.1 |
|
Legal Reserve |
60.4 |
64.6 |
62.6 |
|
Reserves for Own
Shares |
2,025.8 |
2,218.2 |
1,976.7 |
|
Miscellaneous Reserves |
-1.2 |
-0.1 |
- |
|
Total Reserves |
2,085.0 |
2,282.6 |
2,039.3 |
|
Profit or Loss for the Financial Year |
97.3 |
161.0 |
218.0 |
|
Total Equity |
2,703.3 |
3,003.3 |
2,791.2 |
|
Loans and Other
Liabilities |
2.4 |
10.3 |
15.0 |
|
Total Amounts Owed to Credit Institutions |
2.4 |
10.3 |
15.0 |
|
Amounts Owed to Group
Companies |
3.2 |
0.0 |
0.0 |
|
Total Debts with Group or Affiliated Companies |
3.2 |
0.0 |
0.0 |
|
Other Creditors |
6.7 |
5.4 |
7.3 |
|
Long-Term Guarantees
and Deposits Received |
0.5 |
0.4 |
0.6 |
|
Long-Term Payables to
Public Bodies |
41.0 |
43.6 |
- |
|
Total Other Creditors |
48.2 |
49.4 |
7.9 |
|
Long-Term Trade Creditors |
- |
- |
43.2 |
|
Total Long Term Liabilities |
53.8 |
59.8 |
66.2 |
|
Loans and Other
Liabilities |
2.4 |
5.3 |
5.3 |
|
Total Amounts Owed to Credit Institutions |
2.4 |
5.3 |
5.3 |
|
Amounts Owed to Group
Companies |
0.6 |
1.1 |
2.6 |
|
Total Short-Term Amounts Owed to Group and
Associa |
0.6 |
1.1 |
2.6 |
|
Amounts Owed for
Purchases of Goods or Services |
161.2 |
164.8 |
102.4 |
|
Debts Represented by
Notes Payable |
- |
- |
97.6 |
|
Total Trade Creditors |
161.2 |
164.8 |
200.0 |
|
Public Bodies |
18.4 |
25.2 |
69.1 |
|
Bills of Exchange
Payable |
30.8 |
52.4 |
110.3 |
|
Miscellaneous Debts |
15.7 |
26.6 |
56.0 |
|
Wages and Salaries
Payable |
46.0 |
70.4 |
54.1 |
|
Total Other Creditors |
110.9 |
174.6 |
289.6 |
|
Provisions |
0.8 |
0.9 |
1.0 |
|
Prepayments and Accrued Income |
0.9 |
1.3 |
1.3 |
|
Total Short Term Creditors |
276.8 |
348.0 |
499.8 |
|
Total Liabilities and Equity |
3,033.9 |
3,411.1 |
3,357.2 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.35 |
|
|
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
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 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.