MIRA INFORM REPORT

 

 

Report Date :

06.02.2013

 

IDENTIFICATION DETAILS

 

Name :

CONFECCIONES MATY SA

 

 

Registered Office :

Calle Hermano Juan Fernandez S/N Cordoba, 14014

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

1985

 

 

Com. Reg. No.:

A14067094

 

 

Legal Form :

Public Independent

 

 

Line of Business :

Manufacture of other outerwear

 

 

No. of Employees :

46

 

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 but Correct

 

 

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)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 and address

 

CONFECCIONES MATY SA                                                                                                                         

 

Calle Hermano Juan Fernandez S/N

Cordoba, 14014

Spain

 

Tel:                               +(34) 902350001

Fax:                              +(34) 957438854

 

Employees:                   46

Company Type:             Public Independent

           

Incorporation Date:         1985

Auditor:                         A Auditest Sur Sap

Financials in:                 USD (In Millions)

             

Fiscal Year End:            09-Jan-2013

Reporting Currency:       Euro

Annual Sales:                3.5  1

Net Income:                   0.0

Total Assets:                 4.4

 

 

Business Description          

 

 

Manufacture of other outerwear

 

 

Industry            

 

 

Industry

Apparel and Accessories

ANZSIC 2006:

1351 - Clothing Manufacturing

NACE 2002:

1822 - Manufacture of other outerwear

NAICS 2002:

3152 - Cut and Sew Apparel Manufacturing

UK SIC 2003:

1822 - Manufacture of other outerwear

UK SIC 2007:

1413 - Manufacture of other outerwear

US SIC 1987:

2385 - Waterproof Outerwear

 

 

Key Executives

 

Name

Title

Maria Luisa Gutierrez Cano

Chief Executive Officer, President, Member Of The Board

Pablo Jose Serrano Cervera

Secretary, Member Of The Board

Olga Gutierrez Cano

Vice Secretary, Vice Chairman, Member Of The Board

Pablo Ortega Cervera

Member Of The Board

 

Registered No.(ESP):     A14067094

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7778987
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7651698

 

 

Corporate Overview

 

Location
Calle Hermano Juan Fernandez S/N
Cordoba, 14014
Spain

 

Tel:                               +(34) 902350001

Fax:                              +(34) 957438854

 

Sales EUR(mil):             2.8

Assets EUR(mil):           3.4

Employees:                   46

Fiscal Year End:            09-Jan-2013

 

 

Industry:                        Apparel and Accessories

 

Incorporation Date:         1985

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     A14067094

 

Chief Executive Officer, President, Member Of The Board: Maria Luisa Gutierrez Cano

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1351

-

Clothing Manufacturing

 

NACE 2002 Codes:

1822

-

Manufacture of other outerwear

 

NAICS 2002 Codes:

3152

-

Cut and Sew Apparel Manufacturing

 

US SIC 1987:

2385

-

Waterproof Outerwear

 

UK SIC 2003:

1822

-

Manufacture of other outerwear

 

UK SIC 2007:

1413

-

Manufacture of other outerwear

 

 

Business Description

 

Manufacture of other outerwear

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

Revenue:

2.8

Net Income:

0.0

Assets:

3.4

Current Assets:

2.4

Fixed Assets:

1.0

Long Term Debt:

0.2

Total Liabilities:

3.4

Issued Capital:

0.2

Net Worth:

2.0

 

 

Date of Financial Data:

09-Jan-2013

1 Year Growth

-12.2%

NA

NA

 

 

Branch Offices

 

Location
Correa Weglison, 11
Jaen, 23003

 

Tel:

+(34) 953240928

 

 

Key Corporate Relationships

 

Auditor:

A Auditest Sur Sap

Auditor:

A Auditest Sur Sap

 

 

Board of Directors

 

Name

Title

Function

Olga Gutierrez Cano

 

Vice Secretary, Vice Chairman, Member Of The Board

Vice-Chairman

Maria Luisa Gutierrez Cano

 

Chief Executive Officer, President, Member Of The Board

Director/Board Member

Pablo Ortega Cervera

 

Member Of The Board

Director/Board Member

Pablo Jose Serrano Cervera

 

Secretary, Member Of The Board

Director/Board Member

 

 

Executives

 

Name

Title

Function

Maria Luisa Gutierrez Cano

 

Chief Executive Officer, President, Member Of The Board

Chief Executive Officer

Pablo Jose Serrano Cervera

 

Secretary, Member Of The Board

Administration Executive

 

 

Annual Profit & Loss

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

Consolidated

No

No

No

 

 

 

 

Charges

3.9

4.0

4.5

    Stock Reduction

-

0.1

0.0

    Supplies

1.5

1.4

1.7

        Goods Consumption

0.0

0.0

1.4

        Consumption of Raw Materials

1.4

1.3

0.2

        Miscellaneous External Expenditures

0.0

0.0

0.0

    Staff Costs

1.2

1.2

1.4

        Wages and Salaries

0.9

0.9

1.0

        Social Security Costs

0.3

0.3

0.4

    Depreciation

0.1

0.1

0.1

    Allowance for Trade Operations

0.0

0.0

0.0

        Losses from Unrecovered Receivables

0.0

0.0

0.0

    Other Operating Charges

1.1

1.1

1.2

        External Services

1.0

1.1

1.2

        Taxes

0.0

0.0

0.0

Operating Benefits

0.0

0.1

0.2

    Financials and Similar Charges

0.0

0.0

0.0

        Due to Other Liabilities

0.0

0.0

0.0

        Losses from Financial Investments

0.0

0.0

-

Net Financial Income

-

0.0

0.0

Profit From Ordinary Activities

0.0

0.1

0.2

Extraordinary Profit

0.0

0.0

0.0

Profit Before Taxes

0.0

0.1

0.2

    Corporation Tax

0.0

0.0

0.1

Financial Year Result (Profit)

0.0

0.1

0.2

Income

3.9

4.1

4.6

    Net Total Sales

3.8

4.0

4.5

        Sales

3.8

4.2

4.7

        Sales Refunds

-

-0.2

-0.2

    Miscellaneous Operating Income

0.0

0.0

0.1

        Auxiliary Income From Current Management

0.0

0.0

0.0

        Grants

0.0

0.0

0.1

    Income From Equity Investment

0.0

0.0

0.0

        Third Parties

0.0

0.0

0.0

    Income From Miscellaneous Interests

0.0

0.0

0.0

        Miscellaneous Interests

0.0

0.0

0.0

    Gains from Exchange Rate

-

0.0

-

Negative Financial Results

0.0

-

-

    Extraordinary Income

0.0

0.0

0.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

        Concessions, Patents, Trademarks

-

0.0

0.0

        Software

-

0.0

0.0

    Total Intangible Fixed Assets

0.0

0.0

0.0

        Land and Construction

-

0.7

0.8

        Technical Installations and Machinery

-

0.3

0.3

        Other Installations, Tools, and Furniture

-

0.0

0.0

        Other Tangible Assets

-

0.2

0.2

    Total Tangible Fixed Assets

1.0

1.1

1.3

        Long-Term Securities Portfolio

0.3

0.2

0.2

        Long-Term Guarantees and Deposits

0.0

0.0

0.0

    Financial Investments

0.3

0.2

0.3

Total Fixed Assets

1.3

1.4

1.6

        Goods for Resale

1.0

1.0

1.0

        Raw Materials and Other Consumables

0.4

0.5

0.4

        Goods in Process

0.1

0.1

0.2

    Total Stocks

1.5

1.6

1.6

        Trade Debtors

0.8

0.8

0.5

        Public Bodies

0.0

0.0

0.1

    Total Debtors

0.8

0.8

0.6

        Short-Term Guarantees and Deposits

0.7

0.7

0.8

    Total Short-Term Investments

0.7

0.7

0.8

    Cash

0.1

0.1

0.1

    Prepayments and Accrued Income

0.1

0.0

0.0

Total Current Assets

3.1

3.2

3.1

Total Assets

4.4

4.6

4.6

        Legal Reserve

0.1

0.1

0.1

        Miscellaneous Reserves

2.2

2.1

2.2

    Total Reserves

2.3

2.2

2.3

    Profit or Loss for the Financial Year

0.0

0.1

0.2

Total Equity

2.6

2.6

2.8

        Loans and Other Liabilities

0.2

0.3

-

    Total Amounts Owed to Credit Institutions

0.2

0.3

-

        Other Creditors

-

-

0.3

        Long-Term Payables to Public Bodies

0.0

0.0

0.1

    Total Other Creditors

0.0

0.0

0.4

Total Long Term Liabilities

0.3

0.3

0.4

        Loans and Other Liabilities

0.5

0.6

0.3

    Total Amounts Owed to Credit Institutions

0.5

0.6

0.3

        Advanced Payments from Customers

-

-

0.1

        Amounts Owed for Purchases of Goods or Services

0.4

0.8

0.9

        Debts Represented by Notes Payable

0.5

-

-

    Total Trade Creditors

1.0

0.8

0.9

        Public Bodies

-

0.1

0.1

        Miscellaneous Debts

-

0.1

0.1

        Wages and Salaries Payable

-

0.0

0.0

    Total Other Creditors

-

0.2

0.2

Total Short Term Creditors

1.5

1.6

1.5

Total Liabilities and Equity

4.4

4.6

4.6

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.29

UK Pound

1

Rs.83.96

Euro

1

Rs.71.88

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.