MIRA INFORM REPORT

 

 

Report Date :

23.05.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

SPYRIDIS, S., S.A.

 

 

Registered Office :

60 Ag. Paraskevis, 12132 Peristeri, Attiki

 

 

Country :

Greece

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

01.01.1986

 

 

Com. Reg. No.:

007847

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Manufactures canned fruits and specialties

 

 

No. of Employees :

12

 

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)

Greece

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

IDENTIFICATION DETAILS

 

NAME:                          SPYRIDIS, S., S.A.

ADDRESS:                   60 AG. PARASKEVIS                                         

                                    12132 PERISTERI                                          

                                    ATTIKI                                                   

                                    GREECE                                                    

TELEPHONE:                30  2105727853                                           

TELEFAX:                     30  2105748846                                           

E-MAIL ADDRESS:        oskar@ath.forthnet.gr                                       

WEB ADDRESS:           www.oskar.gr                                                                                                                   

                    

 

SENIOR COMPANY PERSONNEL

 

George Giannopoulos

             Member

           

      Sofia Spyridi

             Member

           

      Dimitrios Spyridis

             Member

           

      Parthenopi John Spyridi

             Shareholder

             Executive Director

           

      Symeon John Spyridis

             Chief executive

             Shareholder

           

      Parthenopi John Spyridi

             Vice-chairman

             Shareholder

           

      Symeon John Spyridis

             Chairman

             Shareholder

 

  

WORKFORCE

 

EMPLOYS: 12 as at Jan 3, 2012 including 0 part-time staff.

     The number of employees varies according to needs.

     The number of employees peaks to 12.

 

PAYMENTS

 

Informants report that subject's payments are prompt.

 

 

BANKERS

 

Alpha Bank A.E., Peristeri Sq Branch branch., 20 P. Tsaldari, Peristeri 12134, Greece.

Telephone: 30 2105710218

 

 

FINANCIALS

 

FINANCES

 

                              Fiscal           Fiscal          Fiscal
 
                         Jun 30,2009      Jun 30,2010     Jun 30,2011
Turnover                   1,508,908        1,746,921       2,041,789
Pre-Tax Profit                19,842           33,217          40,269
Net Worth                    408,322          433,235         437,406
Fixed Assets                 105,167           95,663          95,214
Total Assets                 671,424          823,170         807,930
Current Assets               566,258          727,507         712,716
Current Liabilities          263,102          389,935         370,523
Working Capital              303,156          337,572         342,193
Intangibles                        0                0               0
Employees                         10               10              10

 

Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets

 

 

RATIOS

 

                         Jun 30,2009      Jun 30,2010     Jun 30,2011
 
Current Ratio (X)               2.15             1.87            1.92
Solvency Ratio (%)            164.43           190.01          184.71
Fixed Assets/Net Worth (%)     25.76            22.08           21.77
Current Liabs/Net Worth (%)    64.43            90.01           84.71
Asset Turnover (%)            224.73           212.22          252.72
Sales / Net Working Cap (X)     4.98             5.17            5.97
Assets / Sales (%)             44.50            47.12           39.57
Profit Margin (%)               1.31             1.90            1.97
S/holders Return (%)            4.86             7.67            9.21
Return On Assets (%)            2.96             4.04            4.98
Sales / Employees         150,890.80       174,692.10      204,178.90
Profit / Employees          1,984.20         3,321.70        4,026.90

 

Abstract from individual fiscal balance sheet as at Jun 30, 2011

 

LIABILITIES                    ASSETS                       

Capital              306,700   Land/Buildings                 359,347

Retained Profits      -6,562   Plant/Machinery                115,895

Misc Reserves        137,268   Depreciation                   380,028

Net Worth            437,406   Total Fixed Ass                 95,214

 

                               Misc Intangible                      0

                               Total Intangible                     0

 

CURRENT LIABILITIES:           CURRENT ASSETS:              

Trade Creditors      331,098   Stock                          103,262

Misc Current Liabs    39,426   Trade Debtors                  520,893

                               Cash                            88,561

 

TOTAL CURRENT        370,524   TOTAL CURRENT                  712,716

 

TOTAL LIABS & NW     807,930   TOTAL ASSETS                   807,930

 

             Profit & Loss Account from Jul 1, 2010 to Jun 30, 2011                

 

             Net Sales                             2,041,789
             Cost of Goods Sold                    1,818,830
 
             Gross Profit                            222,959
             Misc Operating Charges                  180,493
             Misc Operating Income                     2,910
 
             Net Operating Income                     45,376
             Misc Financial Income                     2,968
             Total Financial Income                    2,968
 
             Interest Payable                            766
             Misc Financial Expenses                   7,309
             Total Financial Expenses                  8,075
 
             Profit Before Taxes                      40,269
             Income Tax                               10,414
 
             Profit After Tax                         29,855
 
             Net Profit                               29,855

 

According to the balance sheet as of Jun 30, 2011.

    

The below mentioned financial figures are in Euro

    

Financial statement obtained from subject on Dec 7, 2011.

 

LEGAL STATUS

 

BACKGROUND

     Business started Jan 1, 1986.

    

   LEGAL FORM

     Societe anonyme registered on Jan 1, 1986 for a period ending Dec 31, 2085.

     Registration Number: 007847

     Government Gazette Number: 02638 / 1986

     Chamber of Commerce Number: 81383

     Tax Registration Number: 094160357

    

     Established in Peristeri, Attiki, in July 1986, to continue the business

     activities of the sole proprietorship JOHN SPYRIDIS, originally founded in

     1970.

 

 

CAPITAL DETAILS

 

CAPITAL

Nominal capital: 306,700.

Issued capital: 306,700.

Issued/paid-up capital was last increased on Feb 4, 2011.

 

Nominal capital is divided into: 61,340 shares of 5 each and fully paid-up.

 

    

SHAREHOLDERS

 

Parthenopi Spyridi holds 50.00% of the voting capital.

Symeon Spyridis holds 50.00% of the voting capital.

 

                                                                         

ACTIVITIES

 

Local Activity Code:                   1039                                          

Local Activity Code Type:           STAKOD                                        

Equivalent to:                             NACE 1                                        

    

Manufactures canned fruits and specialties

Wholesales fresh fruits and vegetables

 

Processing, imports and wholesale trade of nuts, sultana raisins,currants and dried fruit , Furthermore, subject's clientele comprises firms all over Greece, mostly being super-markets, confectionery shops etc.), including:

 

Subject produces the following brand(s):  OSKAR

IMPORTS

 

Imports 60% from Chile, China, Iran, Singapore, Spain, Sri Lanka, Turkey, U S A

Normal importing terms are cash against documents

 

 

EXPORTS

 

Exports 20% to Canada, Cyprus, Czech Republic, Denmark, Estonia, Germany,

Italy, Netherlands, Romania, Slovakia, South Africa, U K  Normal exporting terms are cash against documents

 

 

PREMISES / REAL ESTATE

 

Operates from owned workshop, covering approximately 700 square metres at heading address.

    

REGISTERED OFFICE: At heading address.

 

 

BRANCHES

 

Subject has 1 branches/divisions

61 Ag. Paraskevis, 12132, Peristeri, Greece. These are owned premises.

Size: 279 square metres.

 

 

GENERAL COMMENTS 

 

On May 21, 2012

 

On May 21, 2012 subject confirmed general details in this report.

 

On May 21, 2012 local informants stated that:

 

Subject is a long established family run manufacturing and trading economic unit. Its goods are considered of good quality and are well known in the greek market. It is noted that for the distribution of its merchandise subject uses 5 owned trucks.

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.86.84

Euro

1

Rs.70.21

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.