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Report Date : |
13.08.2013 |
IDENTIFICATION DETAILS
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Name : |
STOP S.A. |
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Registered Office : |
2-4 Anapafseos 18546 Piraeus Attiki |
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Country : |
Greece |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.07.2000 |
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Com. Reg. No.: |
046541 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Wholesales non-durable goods. |
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No. of Employees : |
46 |
RATING & COMMENTS
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MIRA’s 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 : |
Usually Correct |
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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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Greece |
B2 |
B2 |
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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 |
GREECE - ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector
accounting for about 40% of GDP and with per capita GDP about two-thirds that
of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants
make up nearly one-fifth of the work force, mainly in agricultural and
unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of
annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007,
due partly to infrastructural spending related to the 2004 Athens Olympic
Games, and in part to an increased availability of credit, which has sustained
record levels of consumer spending. But the economy went into recession in 2009
as a result of the world financial crisis, tightening credit conditions, and
Athens' failure to address a growing budget deficit. The economy contracted by
2.3% in 2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the
EU's Growth and Stability Pact budget deficit criterion of no more than 3% of
GDP from 2001 to 2006, but finally met that criterion in 2007-08, before
exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity
measures reduced the deficit to about 8% in 2012. Deteriorating public
finances, inaccurate and misreported statistics, and consistent
underperformance on reforms prompted major credit rating agencies to downgrade
Greece's international debt rating in late 2009, and has led the country into a
financial crisis. Under intense pressure from the EU and international market
participants, the government adopted a medium-term austerity program that
includes cutting government spending, decreasing tax evasion, overhauling the
health-care and pension systems, and reforming the labor and product markets.
Athens, however, faces long-term challenges to push through unpopular reforms
in the face of widespread unrest from the country's powerful labor unions and
the general public. In April 2010 a leading credit agency assigned Greek debt
its lowest possible credit rating; in May 2010, the International Monetary Fund
and Euro-Zone governments provided Greece emergency short- and medium-term
loans worth $147 billion so that the country could make debt repayments to
creditors. In exchange for the largest bailout ever assembled, the government
announced combined spending cuts and tax increases totaling $40 billion over
three years, on top of the tough austerity measures already taken. Greece,
however, struggled to meet 2010 targets set by the EU and the IMF, especially
after Eurostat - the EU's statistical office - revised upward Greece's deficit
and debt numbers for 2009 and 2010. European leaders and the IMF agreed in
October 2011 to provide Athens a second bailout package of $169 billion. The
second deal however, calls for Greece's creditors to write down a significant
portion of their Greek government bond holdings. In exchange for the second
loan Greece has promised to introduce an additional $7.8 billion in austerity
measures during 2013-15. However, these massive austerity cuts are lengthening
Greece's economic recession and depressing tax revenues. Greece's lenders are
calling on Athens to step up efforts to increase tax collection, privatize
public enterprises, and rein in health spending, and are planning to give
Greece more time to shore up its economy and finances. Many investors doubt
that Greece can sustain fiscal efforts in the face of a bleak economic outlook,
public discontent, and political instability.
Source
: CIA
STOP S.A.
ADDRESS: 2-4
ANAPAFSEOS
18546 PIRAEUS
ATTIKI
GREECE
TELEPHONE: 30
2104626800
TELEFAX: 30 2104633718
E-MAIL ADDRESS: info@stop.com.gr
WEB ADDRESS: www.stop.com.gr
Michail Petros
Pantazis
Chairman
Janet-Mary
Charles-John Harley
Vice-chairman
Shareholder
Sotirios Michail
Pantazis
Shareholder
Deputy Chairman
Michail Petros
Pantazis
Chief executive
Christos Pilos
Member
Argyro Dimitrios
Kotsiani
Member
Alpha Bank A.E.,
Passalimani Branch branch., 156, Grigoriou Lambraki Street, Piraeus 18535,
Greece.
Telephone: 30 2104123457
National Bank of
Greece S.A., Akti Kondyli (Zea) Branch branch., 12 Akti Kondyli, Piraeus 18545,
Greece.
Telephone: 30 2104144811
Bank of Piraeus
S.A., Papastratos Branch branch., 7 Antipl. P. Vlachakou & Polydefkous,
Piraeus 18545, Greece.
Telephone: 30 2104101980
LEGAL FORM
Societe anonyme
registered on Jul 14, 2000 for a period ending Dec 31, 2050.
Registration
Number: 046541
Government Gazette
Number: 06675 / 2000
Chamber of
Commerce Number: 35843
Tax Registration
Number: 095205574
Established
following a change of the legal status of a firm originally founded in 1967.
SUPPLEMENTARY DATA ON THE ABOVEMENTIONED EVENTS PUBLISHED IN THE GOV.GAZ.:
According to the Gov.Gaz. 6675/2000 subject was established following the
change in the legal status of the firm STOP LTD which was established on
2.1.1981 undertaking the business activities of the general partnership
VARELLAS, J., - P. PANTAZIS O.E. which was established in 1975 continuing the
business activities of the general partnership VARELLA, AIKATERINI, & CO
O.E., originally founded in 1967.
CAPITAL
Nominal capital: 1,410,000
Issued capital: 1,410,000
Issued/paid-up
capital was last increased on Apr 14, 2011.
Nominal capital is
divided into:
47,000 shares of
30 each and fully paid-up.
Agathi Pantazi is
a principal shareholder.
Sotirios Pantazis
is a principal shareholder.
Janet-Mary Harley
is a principal shareholder.
Elissavet Pantazi
is a principal shareholder.
Michail Pantazis
is a principal shareholder.
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Trade Payment
Summary |
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EXP. DATE PAYING RECORD HIGH CREDIT NOW OWES PAST DUE TERM LAST SALE |
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1/5/2013 PROMPT/SLOW 1,458 0 0 30 1/5/2012 |
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3/4/2013 PROMPT/SLOW 1,458 0 0 30 3/11/2012 |
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1/3/2013 PROMPT/SLOW 1,458 0 0 30 1/10/2012 |
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11/2/2013 SLOW30/90 1,458 0 0 30 11/11/2012 |
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31/1/2013 PROMPT 1,773 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 7,073 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 1,773 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 7,073 0 0 30 31/10/2012 |
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31/1/2013 PROMPT 1,773 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 7,073 0 0 30 31/10/2012 |
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31/12/2012 PROMPT 1,773 1,773 0 30 30/11/2012 |
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31/12/2012 PROMPT 7,073 7,073 0 30 30/11/2012 |
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3/12/2012 SLOW30/90 1,458 0 0 30 3/11/2012 |
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5/11/2012 SLOW30/90 1,458 384 0 30 5/10/2012 |
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3/10/2012 SLOW30/90 1,458 1,458 1,077 30 3/9/2012 |
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3/9/2012 SLOW30/60 1,070 833 833 30 3/8/2012 |
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3/9/2012 SLOW30/60 1,070 833 833 30 3/8/2012
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Informants report
that subject's payments are prompt.
The following are
related through principal(s) and/or financial interest(s):
ERGONOMIA MESA
ATOMIKIS PROSTASIAS S.A. Societe Anonyme, Argyroupoli,
Greece
This is a dormant
concern.
Year started: 1996.
This concern is
related through common shareholders.
11-13 Spartis,
18663, Drapetsona, Greece.
These are owned
warehouse premises.
Local Activity
Code: 4690
Local Activity
Code Type: STAKOD
Equivalent
to: NACE 1
Wholesales
non-durable goods.
Manufactures men's
and boy's work clothing.
Imports, mfg and
trade of work garments and protective equipment .
Subject's
clientele includes 2,000 companies all over Greece.
Exports 50% to
Cyprus, Former Yugoslav Rep of Macedonia, France, Libya, Sweden, U S A
Normal exporting
terms are cash against documents.
Imports 80% from
Belgium, Canada, China, Cyprus, France, Germany, India, Italy, Sweden, U K
Normal importing
terms are cash against documents.
EMPLOYS: 46 as at Mar 12, 2013 including 0 part-time
staff.
The number of
employees varies according to needs.
The number of
employees peaks to 46.
Operates from:
owned factory, covering approximately 2,364 square meters at heading address.
The site covers
approximately 935 square meters.
REGISTERED
OFFICE: At heading address.
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Fiscal
Fiscal
Fiscal |
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Dec
31,2010 Dec 31,2011 Dec 31,2012 |
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Turnover 8,404,333 7,655,500 7,867,911 |
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Pre-Tax
Profit 1,287,271 786,995 507,721 |
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Net Worth 5,965,022 6,564,367 6,935,571 |
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Fixed
Assets
1,437,818
1,306,575
1,132,299 |
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Total
Assets
8,786,352
8,638,387
8,620,455 |
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Current
Assets 7,243,977 7,243,525 7,422,425 |
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Current
Liabilities 2,378,794 1,712,517 1,416,919 |
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Working
Capital 4,865,183 5,531,008 6,005,506 |
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Long Term
Debt 442,537 361,503 267,965 |
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Financial
Assets 10,911 10,651 11,247 |
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Intangibles 93,646 77,636 54,484 |
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Employees 45 48 |
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Net Worth and
Total Assets are tangible figures shown after the deduction of |
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Intangible
assets. |
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Abstract from individual fiscal balance
sheet as at Dec 31, 2012 |
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LIABILITIES
ASSETS |
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Capital 1,410,000 Land/Buildings 3,438,890 |
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Retained Profits 5,090,771 Depreciation 2,306,591 |
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Misc
Reserves
434,800 Total Fixed
Ass 1,132,299 |
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Net Worth 6,935,571 |
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Shares in Group
1,467 |
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Misc
Provisions
167,965 Misc Fin'cl
Ass 9,780 |
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Misc Def
Liabs 100,000 Total Fin'cl Ass 11,247 |
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Misc Intangible
54,484 |
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Total Intangible 54,484 |
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CURRENT LIABILITIES: CURRENT
ASSETS: |
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Trade
Creditors 1,004,726 Stock
4,205,708 |
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Short term
Loans 100,000 Trade Debtors 2,363,790 |
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Misc Current
Liabs 312,193 Misc Debtors 90,555 |
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Cash
762,372 |
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TOTAL
CURRENT 1,416,919 TOTAL CURRENT 7,422,425 |
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TOTAL LIABS &
NW 8,620,455 TOTAL ASSETS 8,620,455 |
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Profit &
Loss Account from Jan 1, 2012 to Dec 31, 2012 |
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Net Sales
7,867,911 |
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Cost of Goods Sold 5,081,971 |
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Gross Profit 2,785,940 |
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Misc Operating Charges 2,281,547 |
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Misc Operating Income 61,091 |
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Net Operating Income 565,484 |
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Misc Financial Income 23,175 |
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Total Financial Income 23,175 |
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Interest Payable 14,130 |
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Misc Financial Expenses 66,808 |
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Total Financial Expenses 80,938 |
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Profit Before Taxes 507,721 |
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Income Tax 126,415 |
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Profit After Tax 381,306 |
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Net Profit
381,306 |
Subject is a family-run firm that is
involved in the sector Security Equipment. Subject operates mainly as a trading
firm (70% to its total Net Sales).
SUPPLEMENTARY DATA ON THE
ABOVEMENTIONED EVENTS PUBLISHED IN THE GOV.GAZ.:
According to the Gov.Gaz. 6675/2000
subject was established following the change in the legal status of the firm
STOP LTD which was established on 2.1.1981 undertaking the business activities
of the general partnership VARELLAS, J., - P. PANTAZIS O.E. which was
established in 1975 continuing the business activities of the general
partnership VARELLA, AIKATERINI, & CO O.E., originally founded in 1967. -
According to the 31/12/2012 balance sheet, subjects fixed assets are prenoted
for 880,441 Euro, in favour of Banks, to ensure loans received, the balance of
which at 31/12/2012, amounted to 200,000 Euro.
Information
in this report was obtained from official and publicly available sources.
No
further information concerning the subject company was retrieved.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
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UK Pound |
1 |
Rs.94.21 |
|
Euro |
1 |
Rs.81.03 |
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 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.