MIRA INFORM REPORT
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Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ANDRES NAVARRO SA |
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Registered Office : |
Calle Tucuman, 2 - Bis 4, 08030 Barcelona |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.01.1986 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
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No. of Employees
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06 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
59.000,00 € |
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Status : |
Satisfactory |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
ANDRES NAVARRO SA
CIF/NIF: A08889099
EXECUTIVE SUMMARY
Identification
Current Business Name: ANDRES NAVARRO SA
Other names: NO
Current Address: CALLE TUCUMAN, 2 - BIS 4
Telephone number: 932470149 Fax: 932325461
Corporate e-mail: informarcion@andresnavarro.es
Trade Risk
Credit appraisal: 59.000,00 €
Incidents: NO
Financial
Information
Balance sheet latest sales (2010): 1.429.388,63 €
(Commercial Registry)
Result: 39.571,34 €
Total Assets: 1.200.627,58 €
Share capital: 60.101,21 €
Employees: 6
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 02/03/1986
Activity: Wholesale of textiles
NACE 2009 CODE: 4641
International Operations: Imports
Corporate Structure
Sole Administrator:
Other Complementary Information
Latest act published in BORME: 19/08/2011 Annual Filed Accounts
Latest press article: 28/11/2005 LA
VANGUARDIA (LEGAL ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 09/02/2012.
TRADE RISK
Credit appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 59.000,00 €
Financial
Situation
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Exercise:2010 |
Evolution |
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Treasury |
Excellent |
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Indebtedness |
Slight |
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Profitability |
Average |
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Balance |
Excellent |
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Performance
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Incidents |
None or Negligible |
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Business
Trajectory |
Superior |
Rating Explication
Financial Situation
•
The company’s financial situation is good.
•
The company’s financial situation evolution has
been stable.
•
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 very
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.
Reasons of the
last outstanding calculation in the note
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DATE |
CHANGE |
RESULTING NOTE |
EVENT |
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06/10/2011 |
Equal |
16 |
•
New financial statements have been uploaded. |
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
Figures given in €
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31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
437.263,20 |
36,42 |
424.529,54 |
36,02 |
404.530,14 |
40,42 |
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B) CURRENT ASSETS |
763.364,38 |
63,58 |
754.115,00 |
63,98 |
596.278,83 |
59,58 |
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LIABILITIES |
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A) NET WORTH |
674.332,37 |
56,16 |
642.711,83 |
54,53 |
624.133,37 |
62,36 |
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B) NON CURRENT LIABILITIES |
154.433,88 |
12,86 |
177.384,05 |
15,05 |
193.018,33 |
19,29 |
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C) CURRENT LIABILITIES |
371.861,33 |
30,97 |
358.548,66 |
30,42 |
183.657,27 |
18,35 |
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Balance Sheet
Comments
Total assets of the company grew in 1,87%
between 2.009 and 2.010.
This growth is a consequence of non current assets increase
in 3,00%.
This growth has been financed with a Net Worth increase
of 4,92%; this company’s net increase has also covered the reduction
of 1,80% of company’s indebtedness.
Total assets of the company grew in 17,77%
between 2.008 and 2.009.
This growth has been inferior in the case of the non current assets that
increased just in 4,94%.
This growth has been mainly financed with a debt increase
of 42,28%. Nevertheless Net Worth grew 2,98%.
Profit and Loss
Account Analysis 
Figures given in €
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31/12/2010 (12) |
% NET TURNOVER |
31/12/2009 (12) |
% NET TURNOVER |
31/12/2008 (12) |
% NET TURNOVER |
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SALES |
1.429.388,63 |
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1.129.784,09 |
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1.283.668,30 |
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GROSS MARGIN |
340.561,20 |
23,83 |
278.374,98 |
24,64 |
292.056,70 |
22,75 |
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EBITDA |
70.630,07 |
4,94 |
37.783,98 |
3,34 |
45.291,12 |
3,53 |
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EBIT |
54.659,55 |
3,82 |
30.842,66 |
2,73 |
31.633,63 |
2,46 |
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NET RESULT |
39.571,34 |
2,77 |
26.529,26 |
2,35 |
27.963,32 |
2,18 |
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EFFECTIVE TAX RATE (%) |
25,01 |
0,00 |
25,00 |
0,00 |
25,00 |
0,00 |
Profit and Loss
Account Comments
The company’s sales figure grew
in 26,52% between 2.009 and 2.010.
The company’s EBIT grew
in 77,22% 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 83,18% in the analysed period, being equal
to 5,88% in the year 2.010.
The Net Result of the company grew in 49,16% 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 40,43% in the analysed period, being equal
to 7,85% in the year 2.010 .
The company’s sales figure decreased
in 11,99% between 2.008 and 2.009.
The company’s EBIT decreased
in 2,50% between 2.008 and 2.009.
This evolution implies a reduction in the company’s economic
profitability .
The result of these variations is a decrease of the company’s Operating
Profitability of 29,14% in the analysed period, being this
profitability of 3,21% in the year 2.009.
The Net Result of the company decreased
in 5,13% between 2.008 and 2.009.
The company’s Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 9,25% in the analysed period, being equal
to 5,59% in the year 2.009 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2010) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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A) NON CURRENT ASSETS |
36,42 |
31,27 |
5,15 |
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A) CURRENT ASSETS |
63,58 |
68,73 |
-5,15 |
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LIABILITIES |
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A) NET WORTH |
56,16 |
39,47 |
16,70 |
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B) NON CURRENT LIABILITIES |
12,86 |
15,73 |
-2,87 |
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C) CURRENT LIABILITIES |
30,97 |
44,80 |
-13,82 |
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COMPANY (2010) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
99,03 |
98,64 |
0,39 |
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GROSS MARGIN |
23,59 |
37,52 |
-13,92 |
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EBITDA |
4,89 |
3,98 |
0,92 |
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EBIT |
3,79 |
2,21 |
1,58 |
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NET RESULT |
2,74 |
0,63 |
2,11 |
Sector Composition
Compared sector (NACE 2009): 4641
Number of companies: 617
Size (sales figure): 0 - 2,800,000.00 Euros
Comments on the
sectorial comparative
Compared to its sector the assets of the companies show a greater
proportion of non current assets. Specifically the difference with the sector
average is 5,15% .
In liabilities composition the company turns to on a wider scale to self
financing, being the proportion of Net Worth of 16,70% major. As a
consequence, external financing sources are less used by the company
( 16,70% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 99,03% , an 0,39% higher than in the sector .
The company’s EBIT was positive and was 3,79% with regard to
the total ordinary income, 1,58% superior to the one of the sector .
The company’s capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,04 in comparison
with 0,02) .
The company’s net result was positive and equal to 2,74% with
regard to the total ordinary income, 2,11% 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 €
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss Account Balance |
39.571,34 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Goodwill reserve |
0,00 |
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Voluntary reserves |
0,00 |
Special reserves |
0,00 |
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Other reserves disposable at will |
0,00 |
Voluntary reserves |
39.571,34 |
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Total of Amounts to be distributed |
39.571,34 |
Dividends |
0,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
39.571,34 |
company
ADDRESSES
Current Legal Seat Address:
CALLE TUCUMAN, 2 - BIS 4
08030 BARCELONA
Previous Seat Address:
CALLE CASP 144
08013 BARCELONA
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
28/05/2007)
Other Positions : 1 (latest change: 06/03/1998)
Operative Board Members : 3 (latest change: 03/07/2009)
Non-current positions : 1 (latest change: 28/05/2007)
Main Board
members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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SOLE ADMINISTRATOR |
NAVARRO JOLONCH, ANDRES |
28/05/2007 |
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There are 2 board members, directors and auditors registered
Board members remuneration
Source: Annual financial report 2010
Board members remuneration: 0,00 €
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POSITION |
NAME AND SURNAME |
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Manager |
NAVARRO JOLONCH, ANDRES |
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Financial Manager |
NAVARRO JOLONCH, ANDRES |
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Human Resources Director |
NAVARRO JOLONCH, ANDRES |
FINANCIAL LINKS
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
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NAVARRO JOLONCH ANDRES |
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Indef. |
OWN SOURCES |
16/11/2010 |
There are 1 direct financial links through shareholders
registered
BUSINESS INFORMATION
Incorporation date: 02/03/1986
Establishment date: 01/01/1986
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity: Wholesale of textiles
NACE 2009 CODE: 4641
NACE 2009 Activity: Wholesale of textiles
Business: COMERCIO AL MAYOR DE TEJIDOS DE TODAS CLASES
Activity description: FABRICACION Y COMERCIO DE TEJIDOS
Latest employees figure: 6 (2010)
% of fixed employees: 100,00%
% of men: 66,67%
% of women: 33,33%
Employees
evolution
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Source: Annual financial report 2010
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CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
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Senior management |
1 |
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Other managers |
1 |
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Administrative employees |
2 |
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Sales representatives and similar |
1 |
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Other qualified employees |
1 |
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Distribution by sexes |
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8 |
4 |
PURCHASES
Import Percentage: 80%
Imports from: UE Y OTROS PAÍCES
National Distribution: 20%
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ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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CATALUNYA BANC, S.A. |
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BARCELONA |
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There are 1 bank entities registered
Figures given in €
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ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
MORE THAN 5 YEARS |
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|
|
5.723,72 |
0,00 |
0,00 |
There are 1 leasing operations registered
LEGAL
STRUCTURE
Constitution Data
Register Date: 02/03/1986
Legal form: Joint-stock Company
Share capital: 60.101,21 €
Paid-up capital: 60.101,21 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E.
(OFFICIAL GAZETTE OF
THE COMMERCIAL REGISTRY)
· Acts on activity: 0
· Acts on administrators: 4 (Last: 28/05/2007, first: 05/08/1997)
· Acts on capital: 0
· Acts on creation: 0
· Acts on filed accounts: 22 (Last: 19/08/2011, first: 30/11/1990)
· Acts on identification: 2 (Last: 13/01/2006, first: 04/11/1999)
· Acts on Information: 0
Latest acts
in B.O.R.M.E.
Most relevant acts of the last twelve months
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Annual Filed Accounts (2010) |
19/08/2011 |
310325 |
Barcelona |
Other acts
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ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Annual Filed Accounts (2009) |
25/08/2010 |
362254 |
Barcelona |
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Annual Filed Accounts (2008) |
23/09/2009 |
453338 |
Barcelona |
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Annual Filed Accounts (2007) |
30/09/2008 |
681783 |
Barcelona |
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Annual Filed Accounts (2006) |
21/09/2007 |
597336 |
Barcelona |
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Appointments |
28/05/2007 |
287468 |
Barcelona |
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Annual Filed Accounts (2005) |
28/09/2006 |
577439 |
Barcelona |
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Change of registered address |
13/01/2006 |
20222 |
Barcelona |
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Annual Filed Accounts (2004) |
26/09/2005 |
526611 |
Barcelona |
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Annual Filed Accounts (2003) |
13/10/2004 |
591737 |
Barcelona |
There are 28 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 2 (Last: 28/11/2005, first:
14/09/1999)
Latest press
article published
No press articles about this company have been loaded in the last 5
years, if you wish you can check the historical press releases (news with more
than 5 years)
There are 2 press articles registered for this company
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.02 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.66.18 |
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 |
---- |
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.