|
Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
IVERA D.O.O. |
|
|
|
|
Registered Office : |
Beogradska 36, RS 11000 |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
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Date of Incorporation : |
27.07.1995 |
|
|
|
|
Legal Form : |
Ltd. - Limited Liability company |
|
|
|
|
Line of Business : |
Wholesale of grain, seeds and animal feeds |
|
|
|
|
No. of Employees : |
15 |
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 |
|
Status : |
Satisfactory |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Serbia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SERBIA - ECONOMIC OVERVIEW
Serbia has a transitional economy mostly dominated
by market forces, but the state sector remains large and many institutional
reforms are needed. The economy relies on manufacturing and exports, driven
largely by foreign investment. MILOSEVIC-era mismanagement of the economy, an
extended period of international economic sanctions, and the damage to
Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999
left the economy only half the size it was in 1990. After the ousting of former
Federal Yugoslav President MILOSEVIC in September 2000, the Democratic
Opposition of Serbia (DOS) coalition government implemented stabilization
measures and embarked on a market reform program. After renewing its membership
in the IMF in December 2000, Yugoslavia continued to reintegrate into the
international community by rejoining the World Bank (IBRD) and the European
Bank for Reconstruction and Development (EBRD). Serbia has made progress in
trade liberalization and enterprise restructuring and privatization, but many
large enterprises - including the power utilities, telecommunications company,
natural gas company, national air carrier, and others - remain in state hands.
Serbia has made some progress towards EU membership, signing a Stabilization
and Association Agreement with Brussels in May 2008, and with full
implementation of the Interim Trade Agreement with the EU in February 2010, but
a decision on candidate status has been postponed to 2012. Serbia is also
pursuing membership in the World Trade Organization, and accession negotiations
are at an advanced stage. Structural economic reforms needed to ensure the
country's long-term prosperity have largely stalled since the onset of the
global financial crisis. Serbia, however, is slowly recovering from the crisis.
Economic growth in 2011 was 2.0%, following a modest 1.0% increase in 2010 and
a 3.5% contraction in 2009. High unemployment and stagnant household incomes
are ongoing political and economic problems. Serbia signed a new $1.3 billion
Precautionary Stand By Arrangement with the IMF in September 2011 that was set
to expire in March 2013, but the program was frozen in early 2012 because the
2012 budget approved by parliament deviates from the program parameters.
Growing deficits constrain the use of stimulus efforts to revive the economy,
while Serbia's concerns about inflation and exchange rate stability preclude
the use of expansionary monetary policy. Serbia adopted a new long-term
economic growth plan in 2010 that calls for a quadrupling of exports over ten
years and heavy investments in basic infrastructure. Since the plan was
adopted, Serbia has increased its exports significantly. Major challenges ahead
include: high unemployment rates and the need for job creation; high government
expenditures for salaries, pensions and unemployment benefits; a growing need
for new government borrowing; rising public and private foreign debt;
attracting new foreign direct investment; and getting the IMF program back on
track. Other serious challenges include an inefficient judicial system, high
levels of corruption, and an aging population. Factors favorable to Serbia's
economic growth include a strategic location, a relatively inexpensive and
skilled labor force, free trade agreements with the EU, Russia, Turkey, and
Central European Free Trade agreement countries; and a generous package of
incentives for foreign investments
|
Source
: CIA |
IVERA
D.O.O.
PREDUZECE ZA INZENJERING, TRGOVINU I USLUGE IVERA
DOO BEOGRAD
Beogradska 36
RS 11000 Beograd (Vracar)
Tel: +381
11/2432202, 2434817, 3087628, 3836595
Fax: +381
11/2434817
E-Mail: trgovina@iverahome.com
Web: www.iverahome.com
|
Legal form |
Ltd. - Limited Liability company |
||
|
Established |
27.07.1995 |
||
|
Registered |
National Identification Number: 17079727 PIB (Value Added Tax): 101738722 Serbian Business Registers Agency Nr. 21408 |
||
|
Establisher |
Ratimir Veljanovski, born 06.04.1959
Personal Identification Number: 0604959710131 Serbia |
100.00% |
|
|
Basic capital |
RSD 1,433,000 (31.12.2011) |
||
|
Management |
Ratimir Veljanovski, Director, born 06.04.1959 Personal Identification
Number: 0604959710131 Serbia |
||
|
Activity |
Basic activity (according to National activity classification):
Wholesale of grain, seeds and animal feeds (51.21) General construction of
buildings and civil engineering works (45.21) |
||
|
Business Premises |
Beogradska 36, Beograd, ownership unknown, Office Viline vode bb,
Beograd, ownership unknown, Warehouse (750 m2) |
||
|
Motor pool |
Data not available |
||
|
Staff |
2011 |
16 employees |
|
|
2010 |
15 employees |
|
2009 |
16 employees |
|
Revenue |
2011 revenue |
RSD |
333,501,000 |
||
|
2010 revenue |
RSD |
338,070,000 |
|||
|
2009 revenue |
RSD |
424,796,000 |
|||
|
Real estate |
Data not available |
|
Balance Sheet |
RSD (x 1,000) |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|||
|
FIXED ASSETS |
42,354 |
44,181 |
51,850 |
||||
|
Subscribed capital unpaid |
0 |
0 |
0 |
||||
|
Intangible fixed assets |
0 |
0 |
0 |
||||
|
Tangible fixed assets |
42,354 |
44,181 |
51,850 |
||||
|
Other fixed assets |
0 |
0 |
0 |
||||
|
CURRENT ASSETS |
148,906 |
176,511 |
174,024 |
||||
|
Inventories |
84,148 |
98,102 |
97,766 |
||||
|
Short – term loans |
57,084 |
71,470 |
75,154 |
||||
|
*Cash and cash equivalent |
141 |
12,755 |
1,235 |
||||
|
Other current assets |
7,674 |
6,939 |
1,104 |
||||
|
LOSS |
0 |
0 |
0 |
||||
|
TOTAL ASSETS |
191,260 |
220,692 |
225,874 |
||||
|
EQUITY |
114,705 |
100,794 |
82,046 |
||||
|
Capital |
1,433 |
1,433 |
1,433 |
||||
|
Subscribed capital unpaid |
0 |
0 |
0 |
||||
|
Reserves |
2 |
2 |
2 |
||||
|
Revalorization reserves |
17,612 |
17,612 |
17,612 |
||||
|
Undistributed Income |
95,658 |
81,747 |
62,999 |
||||
|
Loss |
0 |
0 |
0 |
||||
|
Treasury shares |
0 |
0 |
0 |
||||
|
LONG TERM RESERVATIONS |
0 |
0 |
0 |
||||
|
LONG TERM LIABILITIES |
286 |
3,993 |
38,442 |
||||
|
SHORT TERM LIABILITIES |
76,269 |
115,905 |
105,386 |
||||
|
OTHER LIABILITIES |
0 |
0 |
0 |
||||
|
TOTAL LIABILITIES |
191,260 |
220,692 |
225,874 |
||||
|
Profit And Loss Account |
RSD (x 1,000) |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|||
|
OPERATING REVENUES |
306,246 |
318,631 |
403,419 |
||||
|
Sales of goods |
301,930 |
345,086 |
469,769 |
||||
|
OPERATING EXPENSES |
284,691 |
281,462 |
374,064 |
||||
|
Costs of goods sold |
261,006 |
253,450 |
288,687 |
||||
|
Raw materials costs |
2,451 |
2,395 |
14,522 |
||||
|
Salaries, wages and other personal indemnities |
6,628 |
6,121 |
6,304 |
||||
|
Deprecation and provision costs |
1,827 |
1,886 |
1,504 |
||||
|
Other operating expenses |
12,779 |
17,610 |
63,047 |
||||
|
FINANCIAL REVENUES |
3,146 |
1,882 |
1,938 |
||||
|
FINANCIAL EXPENSES |
7,636 |
13,573 |
17,246 |
||||
|
Financial P/L |
(4,490) |
(11,691) |
(15,308) |
||||
|
OTHER REVENUES |
24,109 |
17,557 |
19,439 |
||||
|
OTHER EXPENSES |
21,994 |
22,204 |
19,837 |
|
Other P/L |
2,115 |
(4,647) |
(398) |
|
Profit from regular business operations before tax |
19,180 |
20,831 |
13,649 |
|
Loss from regular business operations before tax |
0 |
0 |
0 |
|
Net profit of businesses to be ceased |
0 |
0 |
3 |
|
Net loss of businesses to be ceased |
215 |
0 |
0 |
|
Profit before taxation |
18,965 |
20,831 |
13,652 |
|
Loss before taxation |
0 |
0 |
0 |
|
Taxation on profit |
1,239 |
2,083 |
1,387 |
|
Personal indemnities paid to employer |
0 |
0 |
0 |
|
TOTAL REVENUES |
333,501 |
338,070 |
424,796 |
|
TOTAL EXPENSES |
314,321 |
317,239 |
411,147 |
|
PROFIT OF THE PERIOD |
17,726 |
18,748 |
12,265 |
|
LOSS OF THE PERIOD |
0 |
0 |
0 |
|
Number of employees |
16 |
15 |
16 |
|
Ratios |
RSD (x 1,000) |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|||
|
Financial stability ratio |
0.91 |
0.74 |
0.81 |
||||
|
Equity ratio % |
59.97 |
45.67 |
36.32 |
||||
|
Debt to equity (Worth) |
0.67 |
1.19 |
1.75 |
||||
|
Liquidity ratio |
0.83 |
0.67 |
0.71 |
||||
|
Current ratio |
1.95 |
1.52 |
1.65 |
||||
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Total assets turnover |
1.60 |
1.44 |
1.79 |
||||
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Average collection period in days |
68 |
82 |
68 |
||||
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Profit margin % |
5.79 |
5.88 |
3.04 |
||||
|
Return on total assets % |
9.27 |
8.50 |
5.43 |
||||
|
Return on equity % |
15.45 |
18.60 |
14.95 |
||||
|
Total assets per employee (ths.) |
11,953.75 |
14,712.80 |
14,117.13 |
||||
|
Equity per employee (ths) |
7,169.06 |
6,719.60 |
5,127.88 |
||||
|
Total revenue per employee (ths.) |
19,140.38 |
21,242.07 |
25,213.69 |
||||
|
Profit per employee (ths.) |
1,107.88 |
1,249.87 |
766.56 |
||||
|
Loss per employee (ths.) |
0.00 |
0.00 |
0.00 |
||||
|
Average net to salaries (ths.) |
34.52 |
34.01 |
32.83 |
||||
|
Cash Flow Report |
RSD (x 1,000) |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
|||||||
|
Cash inflows from operating activities |
342,555 |
423,492 |
297,028 |
||||
|
Cash outflows from operating activities |
293,157 |
419,959 |
295,716 |
||||
|
Net cash inflows from operating activities |
49,398 |
3,533 |
1,312 |
||||
|
Net cash outflows from operating activities |
0 |
0 |
0 |
||||
|
CASH FLOWS FROM INVESTING |
|||||||
|
ACTIVITIES |
|||
|
Cash flows from investing activities |
0 |
0 |
366 |
|
Cash outflows from investing activities |
0 |
0 |
248 |
|
Net cash inflows from investing activities |
0 |
0 |
118 |
|
Net cash outflows from investing activities |
0 |
0 |
0 |
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|||
|
Cash inflows from financing activities |
0 |
16,609 |
38,373 |
|
Cash outflows from financing activities |
46,540 |
8,622 |
31,374 |
|
Net cash inflow from financing activities |
0 |
7,987 |
6,999 |
|
Net cash outflow from financing activities |
46,540 |
0 |
0 |
|
GROSS INFLOWS IN CASH |
342,555 |
440,101 |
335,767 |
|
GROSS OUTFLOWS IN CASH |
339,697 |
428,581 |
327,338 |
|
NET INFLOW IN CASH |
2,858 |
11,520 |
8,429 |
|
NET OUTFLOW IN CASH |
0 |
0 |
0 |
|
CASH AT THE BEGINNING OF THE PERIOD |
12,755 |
1,235 |
553 |
|
POSITIVE EFFECT ON EXCHANGE RATE CHANGES |
0 |
1,823 |
1,570 |
|
NEGATIVE EFFECT ON EXCHANGE RATE CHANGES |
15,472 |
1,823 |
9,317 |
|
CASH AT THE END OF THE PERIOD |
141 |
12,755 |
1,235 |
|
Corporate structure |
Rep. Offices in Serbia: none Rep. Offices abroad: none Affiliates: not identified Subsidiaries: not identified Immediate parent company: none Other functions and shares of Ratimir Veljanovski: - SUPER POSITIVE, Beograd (grad), Serbia
(NIN:20206675), Director |
||
|
Other info |
Short company name: IVERA DOO BEOGRAD (IVERA Ltd. BEOGRAD) |
||
|
Exchange rate |
31.12.2010 31.12.2009 31.12.2008 31.12.2007 31.12.2006 31.12.2005 31.12.2004 31.12.2003 31.12.2002 31.12.2001 |
EUR 1 = RSD 105.50 EUR 1 = RSD 95.70 EUR 1 = RSD 88.60 EUR 1 = RSD 79.24 EUR 1 = RSD 80.00 EUR 1 = RSD 85.94 EUR 1 = RSD 78.89 EUR 1 = RSD 68.31 EUR 1 = RSD 61.52 EUR 1 = RSD 59.71 |
|
|
Inflation |
2007: 2006: 2005: 2004: 2003: |
10.10% 12.70% 16.50% 10.10% 11.70% |
|
Bankers |
PROCREDIT BANK A.D. Beograd Bulevar Despota Stefana 68c 220-118352-56 |
|
BANCA INTESA A.D. Beograd Milentija Popovica 7 b 160-55597-28 |
|
|
CREDY BANKA A.D. Kragujevac Kralja Petra I 13 150-12311-65 |
|
|
NLB BANKA A.D. Novi Beograd Bulevar Mihajla Pupina 165v, Novi Beograd 310-150843-92 |
|
|
UNICREDIT BANK SRBIJA A.D. Beograd Rajiceva 27-29 170-30007340000-28 |
|
|
KBC BANKA A.D. Beograd Pozeska 65 b 115-13401-19 |
|
|
AIK BANKA A.D. Nis Nikole Pasica 42 105-4419-61 |
|
|
POLJOPRIVREDNA BANKA AGROBANKA A.D. Beograd Sremska 3-5 245-53555-98 |
|
|
PRIVREDNA BANKA BEOGRAD A.D. Beograd Bulevar oslobodjenja 4 255-8070-12 |
|
|
DUNAV BANKA A.D., Zvecan 360-2613-18 |
|
|
UNIVERZAL BANKA A.D. Beograd 290-12009-06 |
|
|
SOCIETE GENERALE BANKA SRBIJA A.D. Beograd 275-10221268762-14 |
|
|
RAIFFEISEN BANKA A.D. Beograd 265-1100310004333-48 |
|
|
No unsettled liability was registered during last 12 months. |
|
|
Debt collection |
Case Registered: |
- |
|
|
Case Status: |
There is no record of any debt collection action. |
||
|
Mode of payment |
As a rule payments are made on time according
to conditions, in some cases there have been delays |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.