|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
VF CZECH SERVICES, S.R.O. |
|
|
|
|
Registered Office : |
250 66 Zdiby, Ke Zdibsku 193 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
29.01.1992 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Business and other management consultancy activities |
|
|
|
|
No. of Employees : |
471 employees |
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 : |
CZK
3 000 000,- |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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) |
|
Czech Republic |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Your
enquiry on |
Name: |
VF
Czech Services, s.r.o. |
|
|
Country: |
Česká republika |
|
|
Address: |
250 66 Zdiby, Ke Zdibsku 193 |
|
|
Telephone: |
00420/ 284 089 100 |
|
|
Telefax: |
00420/ 284 089 111 |
|
Company
development |
Positive
company development |
|
|
Order
situation |
Satisfactory
course of business |
|
|
Terms
of payment |
mostly
within agreed terms, but partly also delayed |
|
|
Business
connection |
Business
connections appear permissible |
|
|
Credit
limit |
CZK
3 000 000,- |
|
|
|
|
Legal
form |
Private limited company |
|
|
|
Foundation
|
29/01/1992 - Private limited
company |
||
|
Comp.
Register |
14/09/1992, Městský soud
v Praze, RegNr.: C/12770 |
||||
|
Share
Capital |
14/09/1992 |
CZK |
300 000,-
|
|
|
|
|
13/08/1997 |
CZK |
17 000 000,-
|
|
|
|
10/02/1998 |
CZK |
140 000 000,- |
|
|
Shareholders
|
VF
Luxembourg S.á.r.l. |
CZK |
140 000 000,-
|
|
|
|
Management
|
Alessandro
Zucchini Solimei (02.02.1964) |
||||
|
|
Scot
Alan Roe (16.11.1964) |
|
General
Data |
Distribution and sale of mark
jeans wear and clothing |
|
|
Main
activity: |
|
|
|
|
Historical
name |
||
|
|
H.I.S. Praha spol. s r.o. |
|
|
H.I.S. sportswear Praha spol.
s r.o. |
|
|
Trade
name(s) |
||
|
|
Export: |
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Import: |
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|
|
|
|
||
|
|
Address: |
|
|
Masarykovo nábř. 30,
11000 Praha 1 |
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|
Ovocný trh 12, 11000 Praha 1 |
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|
business
locations: |
|
Staff
|
2006 |
283 employees |
|
|
2007 |
502 employees |
|
|
2008 |
506 employees |
|
|
2009 |
437 employees |
|
|
2010 |
407 employees |
|
|
2011 |
415 employees |
|
|
2012 |
471 employees |
|||||
|
Annual
Sales |
2004 |
actual sales |
CZK |
212 318 000,-
|
|
||
|
|
2005 |
actual sales |
CZK |
200 569 000,-
|
|
|
|
2006 |
actual sales |
CZK |
299 183 000,-
|
|
|
|
2007 |
actual sales |
CZK |
444 857 000,-
|
|
|
|
2008 |
actual sales |
CZK |
448 148 000,-
|
|
|
|
2009 |
actual sales |
CZK |
432 530 000,-
|
|
|
|
2010 |
actual sales |
CZK |
411 727 000,-
|
|
|
|
2011 |
actual sales |
CZK |
420 000 000,-
|
|
|
|
Property |
Property of the company:
Business premises |
|||||
|
Balance
sheets |
The enclosed profit/loss
account of 2010 from business register, -. (31.12.2010 - 1 CZK) |
|
|
The enclosed balance of 2010
from business register, -. (31.12.2010 - 1 CZK) |
|
Remarks
|
All
the sources of negative data accessible to public (insolvency registers,
databases of debtors of health insurance institutions, commercial bulletin,
collection database of Creditreform and others) are currently monitored. |
|
|
Business
management: |
|
Bankers
|
Raiffeisenbank, a. s. |
(5500) |
|
Copyright:
Creditreform s.r.o. Praha |
This information is addressed
exclusively to the addressee. Contractor obligates to provide updated
information. Although it is always put maximum effort to collect actual and
exact information, it is not confirmed as delinquency if there are particular
inaccurateness contained within the information, which are not considered as
essential in terms of the objective for which the information is provided to
the addressee. Contractor and recipient conform to the rules of the Name and
Description Security Act, Nub.101/2000. According to the Name and Description
Security Act, recipient has the right to process or to use forwarding data
only for the purpose for which information has been sent to the recipient.
Usage for other purpose is acceptable only in case referring to valid
regulations of the above mentioned act. |
|
|
|
balance
|
31.12.2007
(CZK) |
31.12.2008
(CZK) |
31.12.2009
(CZK) |
31.12.2010
(CZK) |
|
r1 |
TOTAL
ASSETS |
848 622 000 |
798 538 000 |
734 193 000 |
689 812 000 |
|
r2 |
Receivables for subscriptions |
|
0 |
|
|
|
r3 |
Fixed
assets |
703 047 000 |
653 994 000 |
601 945 000 |
546 734 000 |
|
r4 |
Intangible
fixed assets |
115 000 |
4 000 |
0 |
0 |
|
r7 |
Software |
115 000
|
4 000
|
0 |
0 |
|
r13 |
Tangible
fixed assets |
702 932 000 |
653 990 000 |
601 945 000 |
546 734 000 |
|
r14 |
Lands |
90 462 000
|
90 462 000
|
90 462 000
|
90 462 000
|
|
r15 |
Constructions |
237 668 000
|
227 598 000
|
216 627 000
|
206 408 000
|
|
r16 |
Equipment |
362 000 000
|
335 138 000
|
294 856 000
|
248 062 000
|
|
r20 |
Tangible fixed assets under
construction |
12 524 000
|
792 000
|
0 |
1 802 000
|
|
r21 |
Advance payments for tangible
fixed assets |
278 000
|
|
|
|
|
r23 |
Long-term
financial assets |
|
0 |
|
|
|
r31 |
Current
assets |
140 271 000 |
142 338 000 |
127 952 000 |
136 422 000 |
|
r32 |
Inventory
|
2 832 000 |
3 899 000 |
2 993 000 |
3 144 000 |
|
r33 |
Materials |
2 832 000
|
3 899 000
|
2 993 000
|
3 144 000
|
|
r39 |
Long-term
receivables |
778 000 |
778 000 |
778 000 |
778 000 |
|
r44 |
Long-term deposits given |
778 000
|
778 000
|
778 000
|
778 000
|
|
r48 |
Short-term
receivables |
111 527 000 |
102 460 000 |
74 191 000 |
95 379 000 |
|
r49 |
Trade receivables |
58 995 000
|
63 802 000
|
17 968 000
|
55 295 000
|
|
r54 |
Due from state - tax
receivable |
6 201 000
|
7 677 000
|
7 324 000
|
4 121 000
|
|
r55 |
Short-term deposits given |
9 812 000
|
10 755 000
|
7 215 000
|
2 240 000
|
|
r56 |
Estimated receivable |
36 519 000
|
20 171 000
|
41 644 000
|
33 706 000
|
|
r57 |
Other receivables |
|
55 000
|
40 000
|
17 000
|
|
r58 |
Short-term
financial assets |
25 134 000 |
35 201 000 |
49 990 000 |
37 121 000 |
|
r59 |
Cash |
122 000
|
396 000
|
48 000
|
94 000
|
|
r60 |
Bank accounts |
25 012 000
|
34 805 000
|
49 942 000
|
37 027 000
|
|
r63 |
Accruals
|
5 304 000 |
2 206 000 |
4 296 000 |
6 656 000 |
|
r64 |
Deferred expenses |
2 204 000
|
2 206 000
|
4 296 000
|
6 656 000
|
|
r66 |
Deferred income |
3 100 000
|
|
|
|
|
r67 |
TOTAL
LIABILITIES |
848 622 000 |
798 538 000 |
734 193 000 |
689 812 000 |
|
r68 |
Equity
|
551 945 000 |
563 298 000 |
585 843 000 |
609 843 000 |
|
r69 |
Registered
capital |
140 000 000 |
140 000 000 |
140 000 000 |
140 000 000 |
|
r70 |
Registered capital |
140 000 000
|
140 000 000
|
140 000 000
|
140 000 000
|
|
r73 |
Capital
funds |
287 818 000 |
287 818 000 |
287 818 000 |
287 818 000 |
|
r75 |
Other capital funds |
287 818 000
|
287 818 000
|
287 818 000
|
287 818 000
|
|
r78 |
Reserve
funds, statutory reserve account for cooperatives, and other retained
earnings |
9 930 000 |
9 930 000 |
14 000 000 |
14 000 000 |
|
r79 |
Legal reserve fund /
indivisible fund |
|
9 930 000
|
14 000 000
|
14 000 000
|
|
r81 |
Profit
/ loss - previous years |
100 144 000 |
114 197 000 |
121 480 000 |
144 025 000 |
|
r82 |
Retained earnings from
previous years |
100 144 000
|
114 197 000
|
121 480 000
|
144 025 000
|
|
r84 |
Profit
/ loss - current year (+/-) |
14 053 000 |
11 353 000 |
22 545 000 |
24 000 000 |
|
r85 |
Other
sources |
293 603 000 |
231 958 000 |
145 551 000 |
77 541 000 |
|
r86 |
Reserves
|
4 282 000 |
3 602 000 |
1 464 000 |
2 418 000 |
|
r87 |
Reserves under special
statutory regulations |
|
3 602 000
|
|
|
|
r90 |
Other reserves |
4 282 000
|
|
1 464 000
|
2 418 000
|
|
r91 |
Long-term
payables |
1 210 000 |
2 339 000 |
3 772 000 |
4 232 000 |
|
r101 |
Deferred tax liability |
1 210 000
|
2 339 000
|
3 772 000
|
4 232 000
|
|
r102 |
Short-term
payables |
288 111 000 |
226 017 000 |
140 315 000 |
70 891 000 |
|
r103 |
Trade payables |
25 249 000
|
13 410 000
|
22 168 000
|
18 473 000
|
|
r104 |
Payables to controlled and
managed organizations |
205 237 000
|
153 137 000
|
79 465 000
|
25 085 000
|
|
r107 |
Payroll |
9 998 000
|
9 853 000
|
7 175 000
|
6 844 000
|
|
r108 |
Payables to social securities
and health insurance |
5 385 000
|
4 848 000
|
3 848 000
|
3 780 000
|
|
r109 |
Due from state - tax
liabilities and subsidies |
3 025 000
|
1 546 000
|
1 035 000
|
893 000
|
|
r112 |
Estimated payables |
38 721 000
|
42 727 000
|
26 624 000
|
15 816 000
|
|
r113 |
Other payables |
496 000
|
496 000
|
0 |
|
|
r114 |
Bank
loans and financial accommodations |
0 |
0 |
|
|
|
r115 |
Long-term bank loans |
0 |
0 |
|
|
|
r116 |
Short-term bank loans |
0 |
0 |
|
|
|
r117 |
Short-term accommodations |
0 |
0 |
|
|
|
r118 |
Accruals
|
3 074 000 |
3 282 000 |
2 799 000 |
2 428 000 |
|
r119 |
Accrued expenses |
|
3 282 000
|
|
|
|
r120 |
Deferred revenues |
3 074 000
|
|
2 799 000
|
2 428 000
|
|
|
profit/loss
account |
31.12.2007
(CZK) |
31.12.2008
(CZK) |
31.12.2009
(CZK) |
31.12.2010
(CZK) |
|
a1 |
Turnover |
444 857 000 |
448 148 000 |
432 530 000 |
411 727 000 |
|
a2 |
Revenues from sold goods |
|
|
|
110 000
|
|
a4 |
Sale
margin |
|
|
|
110 000 |
|
a5 |
Production
|
444 857 000 |
448 148 000 |
432 530 000 |
411 617 000 |
|
a6 |
Revenues from own products and
services |
444 857 000
|
448 148 000
|
432 530 000
|
411 617 000
|
|
a9 |
Production
consumption |
198 449 000 |
184 202 000 |
155 120 000 |
148 271 000 |
|
a10 |
Consumption of material and
energy |
66 218 000
|
60 055 000
|
49 065 000
|
48 353 000
|
|
a11 |
Services |
132 231 000
|
124 147 000
|
106 055 000
|
99 918 000
|
|
a12 |
Added
value |
246 408 000 |
263 946 000 |
277 410 000 |
263 456 000 |
|
a13 |
Personnel
expenses |
168 697 000 |
175 063 000 |
179 972 000 |
168 189 000 |
|
a14 |
Wages and salaries |
119 316 000
|
124 992 000
|
129 401 000
|
119 906 000
|
|
a16 |
Social security expenses and
health insurance |
41 454 000
|
42 540 000
|
41 984 000
|
39 970 000
|
|
a17 |
Other social expenses |
7 927 000
|
7 531 000
|
8 587 000
|
8 313 000
|
|
a18 |
Taxes and fees |
339 000
|
433 000
|
435 000
|
1 198 000
|
|
a19 |
Depreciations of intangible
and tangible assets |
53 977 000
|
64 249 000
|
64 325 000
|
63 122 000
|
|
a20 |
Revenues
from disposals of fixed assets and materials |
|
|
87 000 |
62 000 |
|
a21 |
Revenues from disposals of
fixed assets |
|
|
87 000
|
62 000
|
|
a23 |
Net
book value of disposed fixed assets and materials |
|
22 000 |
22 000 |
98 000 |
|
a24 |
Net book value of sold fixed
assets |
|
22 000
|
22 000
|
98 000
|
|
a26 |
Change in operating reserves
and adjustments and complex deferred costs ( + / - ) |
2 056 000
|
541 000
|
-2 140 000
|
954 000
|
|
a27 |
Other operating revenues |
1 233 000
|
4 439 000
|
2 806 000
|
4 414 000
|
|
a28 |
Other operating expenses |
3 199 000
|
3 550 000
|
3 595 000
|
3 672 000
|
|
a31 |
Operating
profit / loss |
19 373 000 |
24 527 000 |
34 094 000 |
30 699 000 |
|
a43 |
Interest revenues |
41 000
|
46 000
|
57 000
|
13 000
|
|
a44 |
Interest expenses |
7 623 000
|
9 063 000
|
3 358 000
|
680 000
|
|
a45 |
Other financial revenues |
22 807 000
|
13 248 000
|
9 727 000
|
6 493 000
|
|
a46 |
Other financial expenses |
16 489 000
|
14 459 000
|
11 780 000
|
6 535 000
|
|
a49 |
Profit
/ loss from financial operations ( transactions ) |
-1 264 000 |
-10 228 000 |
-5 354 000 |
-709 000 |
|
a50 |
Income
tax on ordinary income |
4 056 000 |
2 946 000 |
6 195 000 |
5 990 000 |
|
a51 |
Due tax |
4 712 000
|
1 817 000
|
4 762 000
|
5 530 000
|
|
a52 |
Tax deferred |
-656 000
|
1 129 000
|
1 433 000
|
460 000
|
|
a53 |
Operating
profit / loss ordinary activity |
14 053 000 |
11 353 000 |
22 545 000 |
24 000 000 |
|
a61 |
Profit
/ loss of current accounting period (+/-) |
14 053 000 |
11 353 000 |
22 545 000 |
24 000 000 |
|
a62 |
Profit
/ loss before tax (+/-) |
18 109 000 |
14 299 000 |
28 740 000 |
29 990 000 |
|
|
Operating
cash flow |
93 556 000 |
76 777 000 |
|
|
|
|
Investment
cash flow |
-203 477 000 |
-15 218 000 |
|
|
|
|
Financial
cash flow |
75 408 000 |
-51 492 000 |
|
|
|
|
Receivables
after due date total |
594 000 |
2 119 000 |
1 564 000 |
1 703 000 |
|
|
Liabilities
after due date total |
4 379 000 |
3 263 000 |
12 338 000 |
4 918 000 |
|
Balance
indices |
|
31.12.2007
|
31.12.2008
|
31.12.2009
|
31.12.2010
|
|
Return on total assets ROA (in
%) |
a62/r1 * 100 |
2,13
|
1,79
|
3,91
|
4,35
|
|
Return on equity ROE (in %) |
a62/r68 * 100 |
3,28
|
2,54
|
4,91
|
4,92
|
|
Return on sales ROS (in %) |
a62/a1 * 100 |
4,07
|
3,19
|
6,64
|
7,28
|
|
Turnover of receivables (in
days) |
r49/a1 * 365 |
48,40
|
51,96
|
15,16
|
49,02
|
|
Turnover of liabilities (in
days) |
r103/a1 * 365 |
20,72
|
10,92
|
18,71
|
16,38
|
|
Turnover of inventories (days)
|
r32/a1 * 365 |
2,32
|
3,18
|
2,53
|
2,79
|
|
Net working capital (in ths.
CZK) |
r31 - r102 - r116 - r117 |
-147 840,00
|
-83 679,00
|
-12 363,00
|
65 531,00
|
|
Ratio of accounts payable to
accounts receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
38,82
|
45,21
|
52,03
|
128,00
|
|
Ratio of profit/loss to
tangible assets (in%) |
r3 / a1 * 100 |
158,04
|
145,93
|
139,17
|
132,79
|
|
Current ratio |
r31 / (r102+r116+r117) |
0,49
|
0,63
|
n/a |
n/a |
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
0,47
|
0,61
|
0,89
|
1,87
|
|
Cash ratio |
r58 / (r102+r116+r117) |
0,09
|
0,16
|
n/a |
n/a |
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
34,96
|
29,46
|
20,21
|
11,59
|
|
Debt ratio II (in %) |
r85/r67 * 100 |
34,60
|
29,05
|
19,82
|
11,24
|
|
|
|||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.14 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.