|
Report Date : |
16.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PEDROSO &
OSORIO SA |
|
|
|
|
Registered Office : |
Rua de Fernão
Lopes, 409-2º Dto. Porto |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
17.04.1978 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale trade of textiles |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Portugal |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PORTUGAL - ECONOMIC OVERVIEW
Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the Economic and Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU members. The economy had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in 2010. But GDP fell again in 2011, as the government implemented austerity measures, including a 5% public salary cut, a 2% increase in the value-added tax, and an extraordinary tax on yearend bonuses to comply with conditions of an EU-IMF financial rescue package agreed to in May 2011. GDP per capita stands at roughly two-thirds of the EU-27 average. A rigid labor market has been an obstacle to greater productivity and growth. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a destination for foreign direct investment. Portugal's low competitiveness, low growth prospects, and high levels of public debt have made it vulnerable to bond market turbulence. The government reduced the budget deficit from 10.1% of GDP in 2009 to 4.5% in 2011, an achievement made possible only by the extraordinary revenues obtained from the one-time transfer of bank pension funds to the social security system. Investors, however, continue to express concern about the government's ability to achieve future budget deficit targets and obtain foreign financing to cover its sovereign debt obligations when the EU-IMF financing program expires in 2013. Without the option for stimulus measures, the government is focusing instead on boosting exports and implementing labor market and other structural reforms to try to raise GDP growth and increase Portugal's competitiveness - which, over time, may help mitigate investor concerns.
Source
: CIA
|
Name |
PEDROSO &
OSORIO SA |
|
V.A.T. Number /
NIF |
500772002 |
|
Address |
Rua de Fernão
Lopes, 409-2º Dto. |
|
Locality |
Porto |
|
Postal Code |
4150-318-PORTO |
|
Municipality |
PORTO |
|
District |
PORTO |
|
Telephone |
226165030 |
|
Fax |
226165038,
808200865 |
|
E-Mail |
geral@pedrosoeosorio.pt |
|
Web Site |
www.pedrosoeosorio.pt |
|
|
|
|
C.A.E.(Rev 3) |
46410- Wholesale
trade of textiles |
|
|
|
All the amounts are express in Euros, otherwise you will be advised |
|
|
|
|
Board of
Director's |
|
|
LAURA MARIA DE
JESUS DA COSTA PEDROSO |
Board of
Director's President |
|
JOSE CARLOS
MENERES BORGES DE FREITAS |
Administrator |
|
BARBARA
CRISTINA DE JESUS PEDROSO OSORIO |
Administrator |
|
|
|
|
Fiscal Board |
|
|
VELOSA,SILVA E
MARQUES-SROC |
Unique Fiscal |
|
PAULO MANUEL
CARVALHO DA SILVA |
Fiscal Board
Substitute |
|
Registed on the
Register Record Office of Porto in 2ª. Secção with the Register Number
500772002 previous number 22854 in 17-04-1978 |
|
Constitution
celebrated in 17-04-1978 published on Diário da República number 124 of
31-05-1978 |
|
To oblige the company
it is necessary 2 signature |
|
Changes to
Society |
|
In 09-08-2012
on Portal MJ of 09-08-2012 rectification |
|
In 30-03-2012
on Portal MJ of 08-08-2012 board of director's change |
|
In 02-01-2009 on
Portal MJ of 05-03-2009 board of director's change |
|
In 31-03-2006
on Portal MJ of 03-10-2006 board of director's change |
|
In 15-12-1998
on Diário da República number 187 of 12-08-1999 social change |
|
The Capital is
500.000,00 |
|
|
Line of
Business |
Percentage |
|
Wholesale of textiles |
100% |
|
Type of Clients
|
Private
Companies |
|
|
|
Sales
Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
30% |
Foreign |
70% |
|
Imports |
95% |
from |
ESPANHA,FRANÇA,REINO
UNIDO,REPUBLICA DA AFRICA DO SUL,ESTADOS UNIDOS DA AMERICA |
|
Exports |
70% |
to |
ESPANHA,HOLANDA,REINO
UNIDO,IRLANDA,FINLANDIA,SUECIA |
|
CAIXA GERAL DE
DEPOSITOS, SA |
Foz do Douro-Porto |
|
BANCO BPI, SA |
Matosinhos |
|
MILLENNIUM BCP |
Fonte da
Moura-Porto |
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial
District |
Court |
Situation |
|
11-06-2010 |
1028/10.8TTPRT |
Catarina Almeida Amaral Basto |
Acção de
Processo Comum |
5.000,00 |
Porto -
Tribunal do Trabalho |
|
|
|
Total |
30 |
|
|
|
|
|
|
|
Trade Mark |
Quantity |
License Number |
|
Possui veiculos |
10 |
|
|
REAL Companhia
de Seguros SA |
|
Head office and
shop Rua Fernão Lopes, 409 2ºDtº, Porto, 4150-318, PORTO, Tel:226165038,
Fax:226165038 |
|
Installations Avenida
Restelo, 21, Lisboa, 1400-314, LISBOA, Tel:213933930, Showroom |
|
Installations
Rua Cândida Sá de Albergaria, 177, Porto, 4150-185, PORTO, Tel:226178998 |
|
Installations
Rua Princesa D.Amélia, 26, Funchal, 9000-019, FUNCHAL, Tel:291231895,
Showroom |
|
Installations
Edifício Portal de Vila Moura, Bloco A, Loja D/E, Quarteira, 8125-017,
QUARTEIRA, Tel:289323255 |
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2011 |
|
|
||
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variação (%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current
assets |
|
|||
|
Tangible fixed
assets |
3.757.615,18 |
3.917.433,08 |
4.093.371,90 |
(4,08) |
|
Goodwill |
89.783,62 |
89.783,62 |
89.783,62 |
|
|
Financial
participations - other methods |
420.000,00 |
420.000,00 |
420.000,00 |
|
|
Total |
4.267.398,80 |
4.427.216,70 |
4.603.155,52 |
(3,61) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
1.113.604,53 |
956.188,98 |
924.031,49 |
16,46 |
|
Costumers |
2.005.026,03 |
2.599.041,75 |
2.661.191,91 |
(22,86) |
|
State and other
public entities |
20.983,32 |
1.142,85 |
327,54 |
1.736,05 |
|
Other accounts
receivable |
52.182,41 |
|
28.519,97 |
|
|
Deferrals |
10.454,13 |
12.657,70 |
4.821,73 |
(17,41) |
|
Cashier and
bank deposits |
209.719,82 |
320.126,39 |
569.418,86 |
(34,49) |
|
Total |
3.411.970,24 |
3.889.157,67 |
4.188.311,50 |
(12,27) |
|
TOTAL ASSET |
7.679.369,04 |
8.316.374,37 |
8.791.467,02 |
(7,66) |
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS |
|
|
||
|
Capital |
500.000,00 |
500.000,00 |
500.000,00 |
|
|
Legal reserves |
100.000,00 |
100.000,00 |
100.000,00 |
|
|
Other reserves |
1.809.921,87 |
1.809.921,87 |
1.809.921,87 |
|
|
Net retained |
(68.315,18) |
(80.070,42) |
(22.119,91) |
(14,68) |
|
Total |
2.341.606,69 |
2.329.851,45 |
2.387.801,96 |
0,50 |
|
Net income for
the period |
(14.090,71) |
11.755,24 |
(57.950,51) |
(219,87) |
|
TOTAL OF SHAREHOLDERS
FUNDS |
2.327.515,98 |
2.341.606,69 |
2.329.851,45 |
(0,60) |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current
liiabilities |
|
|
||
|
Financing
obtained |
|
1.676.736,82 |
|
|
|
Total |
|
1.676.736,82 |
|
|
|
|
|
|
|
|
|
Current
liabilities |
|
|
||
|
Suppliers |
786.691,05 |
1.093.584,50 |
1.254.405,51 |
(28,06) |
|
State and other
public entities |
231.750,83 |
285.006,32 |
249.384,29 |
(18,69) |
|
Financing
obtained |
4.104.379,55 |
2.664.227,72 |
4.524.980,95 |
54,06 |
|
Other payable
accounts |
229.031,63 |
255.212,32 |
432.844,82 |
(10,26) |
|
Total |
5.351.853,06 |
4.298.030,86 |
6.461.615,57 |
24,52 |
|
TOTAL
LIABILITIES |
5.351.853,06 |
5.974.767,68 |
6.461.615,57 |
(10,43) |
|
TOTAL SHAREHOLDERS
FUNDS AND LIABILITIES |
7.679.369,04 |
8.316.374,37 |
8.791.467,02 |
(7,66) |
|
|
|
|
|
|
|
INCOME
STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND
EXPENSES |
|
|
||
|
Sales and
services |
5.697.300,41 |
6.594.164,87 |
6.445.905,52 |
(13,60) |
|
Gains/losses
allocated subsidiaries, associates and joint ventures |
30,16 |
|
|
|
|
Cost of goods
sold and materials consumed |
3.369.677,52 |
4.079.987,12 |
3.975.243,25 |
(17,41) |
|
Suppliers and
external services |
949.765,81 |
995.668,28 |
1.077.685,04 |
(4,61) |
|
Personnel costs
|
1.019.342,09 |
1.162.020,42 |
1.220.100,29 |
(12,28) |
|
Impairment of
receivables (losses/revearsals) |
(121,17) |
|
|
|
|
Other income
and gains |
87.571,61 |
116.046,53 |
274.441,56 |
(24,54) |
|
Other expenses
and losses |
210.792,45 |
103.725,73 |
139.041,94 |
103,22 |
|
Result before
depreciation, financing costs and taxes |
235.445,48 |
368.809,85 |
308.276,56 |
(36,16) |
|
Expenses/reversals
of depreciation and amortization |
182.016,85 |
198.822,61 |
152.016,21 |
(8,45) |
|
Operating
result (before financing costs and taxes) |
53.428,63 |
169.987,24 |
156.260,35 |
(68,57) |
|
interest and
similar expenses incurred |
44.563,49 |
125.488,25 |
196.312,37 |
(64,49) |
|
Net before
taxes |
8.865,14 |
44.498,99 |
(40.052,02) |
(80,08) |
|
Income tax of
the period |
22.955,85 |
32.743,75 |
17.898,49 |
(29,89) |
|
Net profit for
the period |
(14.090,71) |
11.755,24 |
(57.950,51) |
(219,87) |
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS
|
|
|||
|
Shareholder's
Funds Profitability |
(0,006) |
0,005 |
(0,025) |
|
|
Assets
Profitability |
0,007 |
0,02 |
0,018 |
|
|
Sales Net
Profitability |
(0,002) |
0,002 |
(0,009) |
|
|
|
|
|
|
|
|
EFFICIENCY
RATIOS |
|
|
||
|
Medium Term
Receivable |
128,453 |
143,862 |
150,69 |
|
|
Asset Rotation |
0,742 |
0,793 |
0,733 |
|
|
|
|
|
|
|
|
PRODUCTIVITY
RATIOS |
|
|
||
|
Productivity |
2,283 |
2,164 |
2,025 |
|
|
|
|
|
|
|
|
SHORT TERM
RATIOS |
|
|
||
|
General
Liquidity |
0,638 |
0,905 |
0,648 |
|
|
Reduced
Liquidity |
0,429 |
0,682 |
0,505 |
|
|
Immediate
Liquidity |
0,039 |
0,074 |
0,088 |
|
|
|
|
|
|
|
|
MEDIUM LONG
TERM RATIOS |
|
|
||
|
Financial
Autonomy |
0,303 |
0,282 |
0,265 |
|
|
Solvability |
0,435 |
0,392 |
0,361 |
|
|
Borrowed
Capital Structure |
1 |
0,719 |
1 |
|
|
General Debt |
1,763 |
1,854 |
1,942 |
|
|
Medium Long
Term Debt |
|
0,716 |
|
|
|
Debt Structure |
1 |
0,719 |
1 |
|
|
Capital
Structure |
|
1,397 |
|
|
|
|
|
|
|
|
|
Operational and
Financial Risk |
|
|
||
|
Operational
Leverage Level |
43,565 |
14,79 |
15,811 |
|
|
Financial
Leverage Level |
6,027 |
3,82 |
(3,901) |
|
|
Combined
Leverage Level |
262,566 |
56,498 |
(61,679) |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.