MIRA INFORM REPORT
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Report Date : |
13.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ABASIC SL |
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Registered Office : |
C/ Bruc, 49, Barcelona, 08009 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
B63054068 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Design and sale of casual clothing |
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No. of Employees
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681 persons |
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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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 & address
Abasic Sl
C/ Bruc, 49
Barcelona, 08009
Spain
Tel: +(34) 933043164
Fax: +(34) 933021907
Web: www.desigual.com
Synthesis
Employees: 681
Company Type: Private Parent
Corporate Family: 2
Companies
Incorporation Date: 2003
Auditor: Gasso Auditores Slp
Financials in: USD
(Millions)
Fiscal Year End: 23-Nov-2011
Reporting Currency: Euro
Annual Sales: 388.8
1
Net Income: 29.9
Total Assets: 285.3
Business Description
Design and sale of casual clothing
Industry
Industry Retail (Apparel)
ANZSIC 2006: 4251 - Clothing
Retailing
NACE 2002: 5242 - Retail sale
of clothing
NAICS 2002: 448110 - Men's
Clothing Stores
UK SIC 2003: 52424 - Retail
sale of other men's clothing
US SIC 1987: 5611 - Men's and
Boys' Clothing and Accessory Stores
Key Executives
|
Name |
Title |
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Thomas Meyer |
Presidente |
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Christian Meyer |
Director de Expansión |
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Jorge RamÃrez |
Secretario |
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Manel Adell |
Gerente |
Registered No.(ESP): B63054068
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7489795
Corporate Overview
Location
C/ Bruc, 49
Barcelona, 08009
Spain
Tel: +(34) 933043164
Fax: +(34) 933021907
Web: www.desigual.com
Sales EUR(mil): 279.6
Assets EUR(mil): 213.7
Employees: 681
Fiscal Year End: 23-Nov-2011
Industry: Retail (Apparel)
Incorporation Date: 2003
Company Type: Private Parent
Quoted Status: Not Quoted
Registered No.(ESP): B63054068
Gerente: Manel Adell
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Branch Offices
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
4251 - Clothing Retailing
NACE 2002 Codes:
5242 - Retail sale of clothing
NAICS 2002 Codes:
448110 - Men's Clothing Stores
448120 - Women's Clothing Stores
448130 - Children's and Infants' Clothing Stores
US SIC 1987:
5641 - Children's and Infants' Wear Stores
5611 - Men's and Boys' Clothing and Accessory Stores
5621 - Women's Clothing Stores
UK SIC 2003:
52423 - Retail sale of other women's clothing
52424 - Retail sale of other men's clothing
52422 - Retail sale of children's and infants' clothing
Business
Description
Wholesale of textiles
More Business
Descriptions
Design and sale of casual clothing
Brand/Trade Names
Desigual
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Corporate
Family |
Corporate
Structure News: |
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Abasic Sl |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Barcelona |
Spain |
Retail (Apparel) |
388.8 |
681 |
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Subsidiary |
Barcelona |
Spain |
Retail (Apparel) |
136.1 |
642 |
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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 |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Charges |
351.7 |
250.7 |
138.7 |
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Supplies |
159.7 |
126.0 |
69.4 |
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Goods Consumption |
137.9 |
100.3 |
63.9 |
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Consumption of Raw
Materials |
21.8 |
25.7 |
5.5 |
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Staff Costs |
33.9 |
23.7 |
15.3 |
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Wages and Salaries |
25.6 |
19.1 |
11.5 |
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Social Security Costs |
8.3 |
4.6 |
3.8 |
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Depreciation |
6.5 |
4.8 |
2.7 |
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Allowance for Trade Operations |
21.4 |
8.5 |
2.1 |
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Stock Provision
Variation |
15.8 |
4.5 |
1.1 |
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Losses from
Unrecovered Receivables |
5.6 |
4.0 |
1.0 |
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Other Operating Charges |
112.4 |
73.5 |
43.8 |
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External Services |
112.1 |
73.4 |
43.7 |
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Taxes |
0.2 |
0.1 |
0.1 |
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Operating Benefits |
42.5 |
31.9 |
11.7 |
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Financials and Similar Charges |
3.6 |
2.8 |
2.8 |
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Due to Liabilities
With Group Companies |
2.9 |
1.0 |
0.6 |
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Due to Other
Liabilities |
0.7 |
1.7 |
2.2 |
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Changes in Financial Investment Provisions |
2.1 |
3.3 |
0.1 |
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Exchange Losses |
0.2 |
0.5 |
0.2 |
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Profit From Ordinary Activities |
40.5 |
25.6 |
8.6 |
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Extraordinary Expenses |
- |
0.1 |
- |
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Extraordinary Profit |
0.0 |
- |
0.0 |
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Profit Before Taxes |
40.5 |
25.6 |
8.6 |
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Corporation Tax |
12.0 |
7.5 |
2.4 |
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Financial Year Result (Profit) |
28.5 |
18.1 |
6.3 |
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Income |
380.2 |
268.8 |
145.0 |
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Net Total Sales |
370.2 |
257.5 |
136.7 |
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Sales |
370.2 |
257.5 |
136.7 |
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Miscellaneous Operating Income |
6.2 |
11.0 |
8.3 |
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Auxiliary Income From
Current Management |
6.1 |
11.0 |
8.3 |
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Grants |
0.0 |
0.1 |
0.0 |
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Income From Miscellaneous Interests |
3.8 |
0.3 |
0.0 |
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From Group Companies |
0.2 |
- |
0.0 |
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Miscellaneous
Interests |
3.6 |
0.3 |
0.0 |
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Negative Financial Results |
2.1 |
6.3 |
3.1 |
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Profit on Disposal of Assets |
- |
- |
0.0 |
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Extraordinary Income |
0.0 |
- |
0.0 |
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Negative Extraordinary Results |
- |
0.1 |
- |
Annual Balance Sheet
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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Software |
8.8 |
5.1 |
3.3 |
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Total Intangible Fixed Assets |
8.8 |
5.1 |
3.3 |
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Land and Construction |
8.7 |
9.4 |
9.2 |
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Technical
Installations and Machinery |
0.1 |
0.1 |
0.1 |
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Other Installations,
Tools, and Furniture |
18.5 |
13.8 |
11.7 |
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Tangible Fixed Assets
Under Construction |
2.3 |
- |
- |
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Other Tangible Assets |
8.0 |
6.0 |
5.1 |
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Total Tangible Fixed Assets |
37.5 |
29.2 |
26.1 |
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Investments in Group
Companies |
10.3 |
10.7 |
0.0 |
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Long-Term Securities
Portfolio |
0.0 |
0.0 |
0.0 |
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Long-Term Guarantees
and Deposits |
2.4 |
0.2 |
0.1 |
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Financial Investments |
12.8 |
10.9 |
0.1 |
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Total Fixed Assets |
59.1 |
45.2 |
29.4 |
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Goods for Resale |
96.8 |
72.4 |
39.5 |
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Raw Materials and
Other Consumables |
1.1 |
1.1 |
1.4 |
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Payments on Account |
0.1 |
- |
0.0 |
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Total Stocks |
98.0 |
73.5 |
40.9 |
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Trade Debtors |
40.9 |
40.4 |
21.3 |
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Receivables, Group
Companies |
18.7 |
33.8 |
7.9 |
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Other Debtors |
0.5 |
0.6 |
0.2 |
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Public Bodies |
16.7 |
13.4 |
4.1 |
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Total Debtors |
76.7 |
88.3 |
33.5 |
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Receivables from Group
Companies |
9.3 |
0.0 |
- |
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Short-Term Securities
Portfolio |
0.2 |
0.2 |
0.2 |
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Short-Term Guarantees
and Deposits |
19.7 |
6.5 |
0.1 |
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Total Short-Term Investments |
29.1 |
6.7 |
0.3 |
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Cash |
22.2 |
13.6 |
5.4 |
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Prepayments and Accrued Income |
1.5 |
0.5 |
0.3 |
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Total Current Assets |
227.6 |
182.6 |
80.3 |
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Total Assets |
286.6 |
227.8 |
109.8 |
|
Legal Reserve |
2.5 |
0.8 |
0.5 |
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Miscellaneous Reserves |
27.7 |
10.8 |
5.1 |
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Total Reserves |
30.2 |
11.7 |
5.7 |
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Profit or Loss for the Financial Year |
28.9 |
18.7 |
6.0 |
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Total Equity |
73.0 |
45.3 |
15.7 |
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Provisions for Pension
Fund |
3.1 |
3.3 |
- |
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Total Provisions for Liabilities and Charges |
3.1 |
3.3 |
- |
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Loans and Other
Liabilities |
2.5 |
2.8 |
3.5 |
|
Long-Term Liabilities
from Capital Leases |
2.6 |
4.1 |
5.1 |
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Total Amounts Owed to Credit Institutions |
5.1 |
6.9 |
8.5 |
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Amounts Owed to Group
Companies |
81.1 |
64.4 |
5.9 |
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Total Debts with Group or Affiliated Companies |
81.1 |
64.4 |
5.9 |
|
Other Creditors |
5.3 |
5.7 |
6.0 |
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Long-Term Payables to
Public Bodies |
5.0 |
1.9 |
0.0 |
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Total Other Creditors |
10.3 |
7.6 |
6.0 |
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Total Long Term Liabilities |
96.6 |
78.9 |
20.4 |
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Loans and Other
Liabilities |
0.2 |
0.8 |
27.5 |
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Short-Term Liabilities
from Capital Leases |
1.2 |
1.2 |
0.6 |
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Total Amounts Owed to Credit Institutions |
1.4 |
2.0 |
28.1 |
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Amounts Owed to Group
Companies |
8.6 |
14.8 |
8.4 |
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Total Short-Term Amounts Owed to Group and
Associa |
8.6 |
14.8 |
8.4 |
|
Advanced Payments from
Customers |
6.4 |
5.2 |
- |
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Amounts Owed for
Purchases of Goods or Services |
91.6 |
76.4 |
34.9 |
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Total Trade Creditors |
98.0 |
81.6 |
34.9 |
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Public Bodies |
5.0 |
1.3 |
2.0 |
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Miscellaneous Debts |
0.0 |
- |
- |
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Wages and Salaries
Payable |
1.0 |
0.6 |
0.3 |
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Total Other Creditors |
5.9 |
1.9 |
2.4 |
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Total Short Term Creditors |
114.0 |
100.3 |
73.6 |
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Total Liabilities and Equity |
286.6 |
227.8 |
109.8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.94 |
|
UK Pound |
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.39 |
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 |
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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 |
|
<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.