MIRA INFORM REPORT
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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
EMIRA PACKAGING SL |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.01.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
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No. of Employees : |
RATING & COMMENTS
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MIRAs 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 June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
SPAIN - ECONOMIC OVERVIEW
spain's mixed capitalist economy
is the 13th largest in the world, and its per capita income roughly matches
that of Germany and France. However, after almost 15 years of above average GDP
growth, the Spanish economy began to slow in late 2007 and entered into a
recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending
a 16-year growth trend, and by another 0.1% in 2010, before turning positive in
2011, making Spain the last major economy to emerge from the global recession.
The reversal in Spain''s economic growth reflected a significant decline in
construction amid an oversupply of housing and falling consumer spending, while
exports actually have begun to grow. Government efforts to boost the economy
through stimulus spending, extended unemployment benefits, and loan guarantees
did not prevent a sharp rise in the unemployment rate, which rose from a low of
about 8% in 2007 to over 20% in 2011. The government budget deficit worsened
from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more than three times the euro-zone
limit. Madrid cut the deficit to 8.5% of GDP in 2011, a larger deficit than the
6% target negotiated between Spain and the EU. Spain''s large budget deficit
and poor economic growth prospects have made it vulnerable to financial
contagion from other highly-indebted euro zone members despite the
government''s efforts to cut spending, privatize industries, and boost
competitiveness through labor market reforms. Spanish banks'' high exposure to
the collapsed domestic construction and real estate market also poses a
continued risk for the sector. The government oversaw a restructuring of the
savings bank sector in 2010, and provided some $15 billion in capital to
various institutions. Investors remain concerned that Madrid may need to bail
out more troubled banks. The Bank of Spain, however, is seeking to boost
confidence in the financial sector by pressuring banks to come clean about
their losses and consolidate into stronger groups.
Source : CIA
Company
name
EMIRA PACKAGING SL
CIF/NIF: B85624781
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: EMIRA PACKAGING SL
Other names: NO
Current Address: CALLE VELAZQUEZ, 94 - PISO
1
Telephone number: 914174544 Fax: 914174546
URL: www.emirapackaging.com
Corporate e-mail: info@emiragroup.com
Trade Risk
Incidents: NO
Financial Information
Balance sheet latest sales (2011): 41.866.336,30
(Mercantile Register)
Result: 630.153,67
Total Assets: 4.867.818,88
Share capital: 212.161,00
Employees: 15
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 30/01/2009
Activity: Wholesale of minerals
NACE 2009 CODE: 4672
International Operations: Imports and
Exports
Corporate Structure
Sole Administrator:
Other Complementary Information
Latest act published in BORME: 31/01/2012 Change of registered
address
Bank Entities: There are not
TRADE
RISK
Financial situation
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Exercise:2011 |
Evolution |
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Treasury |
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Excellent |
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Indebtedness |
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Very slight |
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Profitability |
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Average |
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Balance |
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Excellent |
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Performance
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Incidents |
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Occasional |
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Business
Trajectory |
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Good |
Rating Explanation
Financial situation
The companys financial situation is good.
The companys financial situation evolution has
been positive.
The sales evolution and results has
been positive.
The auditors opinion about the latest accounts has
been favourable.
Company Structure
The companys capitalization degree determines that
its structure is normal.
The companys size is big depending on
its sales volume.
The employees evolution has been positive.
Performance and Incidences
The available information indicates that the
company has some payment incidents.
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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03/10/2012 |
Reduction |
16 |
There has been a variation in the affected
parties of the companys non-payments information. |
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17/04/2012 |
Increase |
17 |
New financial statements have been uploaded. |
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13/03/2012 |
Equal |
16 |
There has been a variation in the affected
parties of the companys non-payments information. |
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05/03/2012 |
Equal |
16 |
There has been a variation in the affected
parties of the companys non-payments information. |
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25/11/2011 |
Increase |
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.
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in
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31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (11) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
234.293,52 |
4,81 |
1.853.526,05 |
57,92 |
1.167.859,51 |
66,82 |
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B) CURRENT ASSETS |
4.633.525,36 |
95,19 |
1.346.551,46 |
42,08 |
579.906,68 |
33,18 |
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LIABILITIES |
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A) NET WORTH |
3.028.141,35 |
62,21 |
2.397.987,68 |
74,94 |
1.142.208,04 |
65,35 |
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B) NON CURRENT LIABILITIES |
211.317,96 |
4,34 |
224.028,77 |
7,00 |
52.692,49 |
3,01 |
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C) CURRENT LIABILITIES |
1.628.359,57 |
33,45 |
578.061,06 |
18,06 |
552.865,66 |
31,63 |
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Balance Sheet Comments
Total assets of the company grew in 52,12%
between 2.010 and 2.011.
In spite of the assets growth, non current assets
decreased 87,36%.
This growth has been mainly financed with a debt increase
of 129,36%. Nevertheless Net Worth grew 26,28%.
Total assets of the company grew in 83,10%
between 2.009 and 2.010.
This growth has been inferior in the case of the non current assets that
increased just in 58,71%.
This growth has been financed, on a wider scale, with a Net Worth
increase of 109,94% and in a smaller proportion with an debt increase
of 32,45%.
Profit and loss account analysis
Figures given in
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31/12/2011 (12) |
% NET TURNOVER |
31/12/2010 (12) |
% NET TURNOVER |
31/12/2009 (11) |
% NET TURNOVER |
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SALES |
41.866.336,30 |
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18.742.869,87 |
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35.485.277,38 |
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GROSS MARGIN |
2.475.488,70 |
5,91 |
1.548.230,80 |
8,26 |
1.942.653,95 |
5,47 |
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EBITDA |
940.926,90 |
2,25 |
750.824,88 |
4,01 |
867.129,08 |
2,44 |
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EBIT |
912.585,60 |
2,18 |
740.601,39 |
3,95 |
863.885,06 |
2,43 |
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NET RESULT |
630.153,67 |
1,51 |
477.453,50 |
2,55 |
498.384,85 |
1,40 |
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EFFECTIVE TAX RATE (%) |
30,00 |
0,00 |
30,45 |
0,00 |
30,00 |
0,00 |
Profit and Loss Account Comments
The companys sales figure grew
in 123,37% between 2.010 and 2.011.
The companys EBIT grew
in 23,22% between 2.010 and 2.011.
This evolution implies a reduction in the companys economic
profitability .
The result of these variations is a decrease of the companys Operating
Profitability of 17,65% in the analysed period, being this
profitability of 19,31% in the year 2.011.
The Net Result of the company grew
in 31,98% between 2.010 and 2.011.
The companys Financial Profitability has been positively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the companys Economic
Profitability of 3,84% in the analysed period, being equal
to 29,73% in the year 2.011 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2011) |
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 |
4,81 |
34,76 |
-29,95 |
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A) CURRENT ASSETS |
95,19 |
65,24 |
29,95 |
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LIABILITIES |
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A) NET WORTH |
62,21 |
41,58 |
20,63 |
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B) NON CURRENT LIABILITIES |
4,34 |
12,74 |
-8,40 |
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C) CURRENT LIABILITIES |
33,45 |
45,68 |
-12,23 |
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
100,00 |
99,11 |
0,89 |
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GROSS MARGIN |
5,91 |
14,30 |
-8,39 |
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EBITDA |
2,25 |
0,28 |
1,96 |
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EBIT |
2,18 |
-0,56 |
2,74 |
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NET RESULT |
1,51 |
-0,70 |
2,21 |
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Sector Composition
Compared sector (NACE 2009): 4672
Number of companies: 22
Size (sales figure): > 40,000,000.00 Euros
Comments on the sectorial comparative
Compared to its sector the assets of the companies show an inferior
proportion of non current assets. Specifically the difference with the sector
average is -29,95%
.
In liabilities composition the company turns to on a wider scale to self
financing, being the proportion of Net Worth of 20,63% major. As a
consequence, external financing sources are less used by the company
( 20,63% less than the sector) .
The proportion that the sales mean to the companys total ordinary
income is 100,00% , an 0,89% higher than in the sector .
The companys EBIT was positive and was 2,18% with regard to
the total ordinary income, 2,74% superior to the one of the sector .
The companys capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,02 in comparison
with -0,01) .
The companys net result was positive and equal to 1,51% with
regard to the total ordinary income, 2,21% superior to the one of the
sector .
The financial results and the tax impact have had a negative impact on
the net result of the company with a worse behaviour that the one of the sector
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OTHER DATA FROM THE
ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2011
Figures given in
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss Account Balance |
630.153,67 |
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 |
630.153,67 |
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Total of Amounts to be distributed |
630.153,67 |
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 |
630.153,67 |
Auditing
Source: filing of annual financial statement 2011
Auditors opinion: FAVOURABLE
Auditor: FERNANDEZ LOPEZ JOSE
Facts subsequent to the closing
Source: Annual financial report 2011
After the closure no relevant facts requiring their inclusion in the
annual accounts have taken place.
ADDRESSES
Current Legal Seat Address:
CALLE VELAZQUEZ, 94 - PISO 1
28006 MADRID
Previous Seat Address:
PASEO DEL CLUB DEPORTIVO 1 - ED 15 . PISO 1
28223 POZUELO
DE ALARCON MADRID
CORPORATE
STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
25/02/2009)
Auditor : 2 (latest change: 07/04/2011)
Operative Board Members : 1 (latest change: 25/10/2011)
Non-current positions : 1 (latest change: 07/04/2011)
Main Board members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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SOLE ADMINISTRATOR |
BOLUDA SANCHEZ, ANTONIO JOSE |
25/02/2009 |
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Auditor
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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AUDITOR |
ARANZAZU BARREIRA, LUCIA |
07/04/2011 |
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AUDITOR |
FERNANDEZ LOPEZ, JOSE |
07/04/2011 |
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POSITION |
NAME AND SURNAME |
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Manager |
BOLUDA SANCHEZ, ANTONIO JOSE |
FINANCIAL LINKS
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
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EMIRA PACIFIC SL |
B85451300 |
Indef. |
OWN SOURCES |
10/09/2012 |
Company with rating inferior to 7
BUSINESS
INFORMATION
Incorporation date: 30/01/2009
Establishment date: 01/01/2009
Founders Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Code: 1616300
Activity: Wholesale of minerals
NACE 2009 CODE: 4672
NACE 2009 Activity: Wholesale of metals and metal ores
Business: MARKETING, import, export, sale, RETAIL AND WHOLESALE,
AND DISTRIBUTION, STORAGE, cutting,
transforming, BROKERAGE AND
RELATED SERVICES steel products
Latest employees figure: 15 (2012)
% of fixed employees: 90,00%
% of temporary employees: 10,00%
% of men: 44,44%
% of women: 55,56%
Employees evolution
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Source: Annual financial report 2011
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CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
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Distribution by sexes |
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4 |
5 |
SALES
Export Percentage: 85%
LEGAL
STRUCTURE
Constitution Data
Register Date: 30/01/2009
Register town: Madrid
Announcement number: 99823
Register data:
Volume 26397, Folio 137, Section 8, Sheet 475724,
Inscription I/A 1 (2009-02-13)
Share capital: 3.300
Legal form: Limited Liability Company
Share capital: 212.161,00
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 3 (Last: 07/04/2011, first:
25/02/2009)
Acts on capital: 3 (Last: 06/04/2011, first:
05/07/2010)
Acts on creation: 1 (Last: 25/02/2009)
Acts on filed accounts: 1 (Last: 15/10/2010)
Acts on identification: 2 (Last: 31/01/2012, first:
15/12/2009)
Acts on Information: 3 (Last: 29/03/2011, first: 25/02/2009)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
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ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
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Change of registered address |
31/01/2012 |
47512 |
Madrid |
Other acts
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ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
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Appointments |
07/04/2011 |
155201 |
Madrid |
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Capital enlargement (IA) |
06/04/2011 |
153115 |
Madrid |
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Loss of individual ownership character |
29/03/2011 |
140377 |
Madrid |
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Annual Filed Accounts (2009) |
15/10/2010 |
835452 |
Madrid |
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Appointments |
02/08/2010 |
303139 |
Madrid |
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Capital enlargement (IA) |
05/07/2010 |
265758 |
Madrid |
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Capital enlargement (IA) |
05/07/2010 |
265757 |
Madrid |
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Modification of the Articles of Association |
27/04/2010 |
168502 |
Madrid |
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Change of registered address |
15/12/2009 |
521559 |
Madrid |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.62 |
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1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 SCs
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.