MIRA INFORM REPORT

 

 

Report Date :

31.08.2013

 

IDENTIFICATION DETAILS

 

Name :

OLIMP - SPORT SP. Z O.O.

 

 

Registered Office :

Olimp-Sport Spólka Z Ograniczona Odpowiedzialnoscia

 

 

Country :

Poland

 

 

Financials (as on) :

2011

 

 

Date of Incorporation :

01.01.1998

 

 

Com. Reg. No.:

61721

 

 

Legal Form :

--

 

 

Line of Business :

Wholesale of other household goods

 

 

No. of Employees :

18 (2009)

 

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 :

Slow

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

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Poland

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

POLAND - ECONOMIC OVERVIEW

 

Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the European Union to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average while unemployment continues to exceed the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances without stifling economic growth and adopted controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2012, in part due to the ongoing economic difficulties in the euro zone. The key policy challenge is to provide support to the economy through monetary easing, while maintaining the pace of structural fiscal consolidation. Poland's economic performance could improve over the longer term if the country addresses some of the remaining deficiencies in its road and rail infrastructure and its business environment. An inefficient commercial court system, a rigid labor code, red tape, and a burdensome tax system keep the private sector from realizing its full potential.

Source : CIA

Company name

 

Olimp - Sport Sp. z o.o.

 

Company Summary

 

Company Name                        Olimp - Sport Sp. z o.o.

Company Registration 61721

Country                                    PL

Activity Code                            4649Z

Activity Description                  Wholesale of other household goods

Company Status                       Active

Latest Turnover                        2,627,000.00 (PLN)

Latest Shareholders Equity      730,000.00 (PLN)

 

Activity Code                            4649Z

Activity Description                  Wholesale of other household goods

 

 

Company information

 

Company Name                                    Olimp - Sport Sp. z o.o.

Registered Company Name                  OLIMP-SPORT SPÓLKA Z

OGRANICZONA

ODPOWIEDZIALNOSCIA

 

Company Registration Number            61721

Country                                                PL

VAT Registration Number                     2220677757

Date of Company Registration 01/01/1998

Date of Starting Operations                  01/01/1998

Type of Ownership Company Status    Active

 

Principal Activity Code                         5147

Principal Activity Description               Wholesale of other household goods

Contact Telephone Number                  4832 2222608

 

Address                                               OLIMP-SPORT SPÓLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA

Telephone                                            4832 2222608

 

Email:                                                  olimp@olimpsport.pl

Web Addresses                                    www.olimpsport.pl

 

Current Directors Managers

 

Name                                       Krystian Szulc

Position                                   President

 

Share Capital Structure

Issued Share capital                 150,000.00 (PLN)

 

Name                                       KRYSTIAN SZULC

Share Percent                          31.67 %

 

Name                                       ALEKSANDER OLEKSY

Share Percent                          25.00 %

 

Name                                       DANUTA OLEKSY

Share Percent                          25.00 %

 

Name                                       MARZENNA SZULC

Share Percent                          18.33 %

 

Employee Information

Year                                         2009

Number of Employees 18

 

Year                                         2008

Number of Employees 22

 

 

Financial

 

Financial Year                     2011                                     2010                                     2009

Number of Weeks                52                                        52                                         52

Currency                              PLN                                     PLN                                      PLN

Revenue                              2,669,000.00                        3,631,000.00                         3,657,000.00

Operating Costs                  2,785,000.00                        3,601,000.00                         3,626,000.00

Operating Profit                   -115,000.00                          30,000.00                              31,000.00

Depreciation                        41,000.00                             26,000.00                              33,000.00

Financial Income                1,000.00                               8,000.00                                33,000.00

Financial Expenses             73,000.00                             41,000.00                              107,000.00

Extraordinary  Income         0.00                                     0.00                                      0.00

Extraordinary  Costs            0.00                                     0.00                                      0.00

Profit Before Tax                 -188,000.00                          -4,000.00                               -44,000.00

Tax                                      0.00                                     0.00                                      0.00

Profit After Tax                    -188,000.00                          -4,000.00                               -44,000.00

Retained Profit                    -188,000.00                          -4,000.00                               -44,000.00

 

 

 

Financial Year                     2011                                     2010                                     2009

Number of Weeks                52                                        52                                         52

Currency                              PLN                                     PLN                                      PLN

Land & Buildings                47,000.00                             54,000.00                              47,000.00

Plant & Machinery               12,000.00                             8,000.00                                0.00

Other Tangible Assets         16,000.00                             47,000.00                              38,000.00

Total Tangible Assets         75,000.00                             109,000.00                            85,000.00

Other Intangible Assets       3,000.00                               8,000.00                                0.00

Total Intangible Assets       3,000.00                               8,000.00                                0.00

Miscellaneous  Fixed Assets 0.00                                    0.00                                      0.00

Total Other Fixed Assets     0.00                                     0.00                                      0.00

Total Fixed Assets               79,000.00                             118,000.00                            85,000.00

Other Inventories                 873,000.00                           1,048,000.00                         1,111,000.00

Total Inventories                 873,000.00                           1,048,000.00                         1,111,000.00

Trade Receivables               330,000.00                           376,000.00                            401,000.00

Total Receivables                330,000.00                           376,000.00                            401,000.00

Cash                                    102,000.00                           114,000.00                            85,000.00

Other Current Assets          12,000.00                             30,000.00                              35,000.00

Total Current Assets           1,318,000.00                        1,568,000.00                         1,632,000.00

Total Assets                        1,396,000.00                        1,686,000.00                         1,718,000.00

Trade Payables                    325,000.00                           507,000.00                            361,000.00

Bank Liabilities                   52,000.00                             0.00                                      171,000.00

Miscellaneous  Liabilities    289,000.00                           261,000.00                            259,000.00

 

Total Current Liabilities  667,000.00                   768,000.00                            791,000.00

  Other Loans/Finance  

   due after 1 year                          0.00                                     0.00                              5,000.00

  Miscellaneous  Liabilities

  due after 1 year                          0.00                                      0.00                                       0.00

Total Long Term Liabilities        0.00                                      0.00                                 5,000.00

Total Liabilities                   667,000.00                           768,000.00                            796,000.00

Called Up Share Capital      150,000.00                           150,000.00                            150,000.00

Revenue Reserves               580,000.00                           768,000.00                            772,000.00

Total Shareholders  Equity 730,000.00                            918,000.00                            922,000.00

Other Financials

Working Capital                  651,000.00                           800,000.00                            841,000.00

Net Worth                            727,000.00                           910,000.00                            922,000.00

 

 

Pre-Tax Profit Margin          -7.16                                    -0.11                                     -1.21

Return on Capital Employed -25.75                                 -0.44                                     -4.75

Return on Total Assets

Employed                              -13.47                                  -0.24                                     -2.56

 

Return on Net Assets

Employed                            -25.75                                   -0.44                                     -4.77

Sales/Net Working Capital 4.04                                       4.50                                      4.34

Stock Turnover Ratio          33.23                                    29.14                                    30.43

Debtor Days                         45.85                                    38.16                                    40.09

Creditor Days                      45.16                                    51.46                                    36.09

Current Ratio                       1.98                                     2.04                                      2.06

Liquidity Ratio/Acid Test     0.67                                     0.68                                      0.66

Current Debt Ratio               0.91                                     0.84                                      0.86

Gearing                               7.12                                     0.00                                      19.09

Equity in Percentage           52.40                                    54.74                                    53.70

Total Debt Ratio                   0.91                                     0.84                                      0.86

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.57

UK Pound

1

Rs.103.34

Euro

1

Rs.88.16

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.