MIRA
INFORM REPORT
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Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ACEITES DE SEMILLAS SA |
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Registered Office : |
Calle Priorat S/N ( Pol. Ind La Borda), Caldes De Montbui, 08140 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1966 |
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Com. Reg. No.: |
A08077646 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Manufacturer of olive oils |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 (31.03.2012) |
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.
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Source : CIA |
Company name & address
Aceites De Semillas Sa
Calle Priorat S/N ( Pol. Ind La Borda )
Caldes De Montbui, 08140
Spain
Tel: +(34) 938654600
Fax: +(34) 938653875
Synthesis
Employees: 5
Company Type: Public Independent
Incorporation Date: 1966
Financials in: USD
(Millions)
Fiscal Year End:
03-Oct-2012
Reporting Currency: Euro
Annual Sales: 11.2
1
Net Income: 0.2
Total Assets: 2.9
Business Description
Manufacture of olive oils
Industry
Industry Food Processing
ANZSIC 2006: 1150 - Oil and Fat
Manufacturing
NACE 2002: 1542 - Manufacture
of refined oils and fats
NAICS 2002: 311225 - Fats and
Oils Refining and Blending
UK SIC 2003: 1542 - Manufacture
of refined oils and fats
UK SIC 2007: 1041 - Manufacture
of oils and fats
US SIC 1987: 207 - Fats and
Oils
Key Executives
Name Title
Gistau Cerdan Maria Pilar Administrator,
Director/General Manager
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7711641
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7726488
Corporate Overview
Location
Calle Priorat S/N ( Pol. Ind La Borda )
Caldes De Montbui, 08140
Spain
Tel: +(34) 938654600
Fax: +(34) 938653875
Sales EUR(mil): 8.6
Assets EUR(mil): 2.2
Employees: 5
Fiscal Year End: 03-Oct-2012
Industry: Food Processing
Incorporation Date: 1966
Company Type: Public Independent
Quoted Status: Not Quoted
Registered No.(ESP): A08077646
Administrator,
Director/General Manager:
Gistau Cerdan Maria Pilar
Industry Codes
ANZSIC 2006 Codes:
1150 - Oil and Fat Manufacturing
NACE 2002 Codes:
1542 - Manufacture of refined oils and fats
NAICS 2002 Codes:
311225 - Fats and Oils Refining and Blending
US SIC 1987:
207 - Fats and Oils
UK SIC 2003:
1542 - Manufacture of refined oils and fats
UK SIC 2007:
1041 - Manufacture of oils and fats
Business
Description
Manufacture of olive oils
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Executive report
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Executives |
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Administrator, Director/General Manager |
Division Head Executive |
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Charges |
11.7 |
9.7 |
7.7 |
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Staff Costs |
0.4 |
0.3 |
0.3 |
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Wages
and Salaries |
0.3 |
0.3 |
0.3 |
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Social
Security Costs |
0.1 |
0.1 |
0.1 |
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Depreciation |
0.0 |
0.1 |
0.1 |
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Other Operating
Charges |
0.6 |
0.4 |
0.4 |
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Operating
Benefits |
0.4 |
0.1 |
0.1 |
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Financials and
Similar Charges |
0.0 |
0.0 |
0.0 |
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Due
to Liabilities With Group Companies |
0.0 |
0.0 |
0.0 |
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Due
to Other Liabilities |
0.0 |
0.0 |
0.0 |
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Profit From
Ordinary Activities |
0.4 |
0.1 |
0.0 |
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Profit Before
Taxes |
0.4 |
0.1 |
0.0 |
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Corporation Tax |
0.1 |
0.0 |
0.0 |
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Financial Year
Result (Profit) |
0.3 |
0.0 |
0.0 |
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Income |
12.0 |
9.8 |
7.7 |
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Net Total Sales |
12.0 |
9.8 |
7.7 |
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Negative
Financial Results |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total Tangible
Fixed Assets |
0.3 |
0.2 |
0.2 |
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Total Fixed Assets |
0.3 |
0.2 |
0.2 |
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Total Stocks |
0.1 |
0.5 |
0.6 |
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Total Debtors |
1.7 |
1.1 |
0.8 |
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Cash |
0.8 |
1.1 |
0.5 |
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Prepayments and
Accrued Income |
0.0 |
- |
- |
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Total Current Assets |
2.6 |
2.7 |
2.0 |
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Total Assets |
2.9 |
2.9 |
2.2 |
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Revaluation
Reserves |
0.1 |
0.1 |
0.1 |
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Total Reserves |
0.5 |
0.5 |
0.5 |
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Profit or Loss for
the Financial Year |
0.2 |
0.0 |
0.0 |
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Total Equity |
1.2 |
1.0 |
1.0 |
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Total Short Term Creditors |
1.7 |
1.9 |
1.2 |
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Short Term Provisions for Liabilities and
Charges |
0.0 |
- |
- |
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Total
Liabilities and Equity |
2.9 |
2.9 |
2.2 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.88 |
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UK Pound |
1 |
Rs.83.54 |
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Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.