|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
FITEXTRON-IMPORTACAO E EXPORTACAO DE MAQUINAS PARA A INDUSTRIA TEXTIL SA |
|
|
|
|
Registered Office : |
Avenida VillaGarcia de Arosa, nº 1462 4450-301-Matosinhos Porto |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
17.06.1998 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Wholesale of other machinery and equipment |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
No Complaints |
|
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 |
FITEXTRON-IMPORTACAO
E EXPORTACAO DE MAQUINAS PARA A INDUSTRIA TEXTIL SA |
|
V.A.T. Number /
NIF |
504203878 |
|
Address |
Avenida VillaGarcia
de Arosa, nº 1462 |
|
Locality |
Matosinhos |
|
Postal Code |
4450-301-MATOSINHOS |
|
Municipality |
MATOSINHOS |
|
District |
PORTO |
|
Telephone |
229363044 |
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Fax |
229376025 |
|
E-Mail |
infoservice@fitextron.pt
|
|
Web Site |
www.fitextron.pt
|
|
C.A.E.(Rev 3) |
46690-
Wholesale of other machinery and equipment |
|
Legal Form |
Joint Stock
Company |
|
Constitution |
17-06-1998 |
|
V.A.T. Number /
NIF |
504203878 |
|
Capital |
100.000,00 |
|
Sales in :
31-12-2011 |
2.971.792,20 |
|
Shareholders
Funds in: 31-12-2011 |
321.700,04 |
|
Payments |
Good |
|
Credit
Recommendation |
Close Following
|
|
Actual
Condition |
In activity |
|
|
31-12-2009 |
|
31-12-2010 |
|
31-12-2011 |
|
Net Sales |
3.260.748,96 |
|
2.865.778,86 |
|
2.971.792,20 |
|
Net Income For
the Year |
4.903,42 |
|
14.205,40 |
|
20.590,82 |
|
Shareholders
Funds |
286.903,82 |
|
301.109,22 |
|
321.700,04 |
|
Stocks |
178.176,10 |
|
1.046.022,10 |
|
541.860,00 |
|
LIABILITY |
1.911.971,95 |
|
1.675.513,32 |
|
1.037.417,51 |
|
ASSETS |
2.198.875,77 |
|
1.976.622,54 |
|
1.359.117,55 |
|
Consulted
sources say that the subject has been respecting its payments and commercial commitments,
so credit connections with this company are recommended. |
All the amounts are express in Euros,
otherwise you will be advised
|
|
|
|
Board of
Director's |
|
|
FILIPE ALBERTO
MORELLO DA COSTA |
Shareholder and
Unique Administrator |
|
|
|
|
Fiscal Board |
|
|
MARIA EDUARDA
SEIXAS VIEGAS |
Fiscal Board
Substitute |
|
PALM &
CAMBAO, SROC LDA |
Unique Fiscal |
|
Registed on the
Register Record Office of Porto in 3ª. Secção with the Register Number
504203878 previous number 10015 in 17-06-1998 |
|
Constitution
celebrated in 17-06-1998 published on Diário da República |
|
To oblige the
company it is necessary 1 signatures |
|
Changes to
Society |
|
In 27-12-2012
on Portal MJ of 21-01-2013 board of director's change |
|
|
In 30-07-2011
on Portal MJ of 27-09-2011 board of director's change |
|
|
In 08-06-2006
on Portal MJ of 11-09-2006 change in to a joint stock company |
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|
In 08-06-2006 on
Portal MJ of 11-09-2006 change in to a joint stock company Clique para ver detalhes
|
|
|
In 18-12-2001
on Diário da República number 170 of 25-07-2002 increase and redenomination
of capital |
|
The Capital is
100.000,00 , divided in 20000 shares , with a nominal value of 5,00 |
|
|
with the
following shareholders |
|
FILIPE ALBERTO
MORELLO DA COSTA |
79.900,00 |
79,9% |
|
JOAQUIM
FERNANDO GONGALVES DE OLIVEIRA |
100,00 |
0,1% |
|
ANA PATRICIA GONCALVES
OLIVEIRA |
10.000,00 |
10% |
|
MONTSERRAT
MORELLO CERVOS DA COSTA |
5.000,00 |
5% |
|
JOSE DA COSTA |
5.000,00 |
5% |
|
Line of
Business |
Percentage |
|
Comércio,
importação e exportação de máquinas e acessórios para indústria têxtil |
100% |
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Type of Clients
|
Private
Companies |
|
|
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Sales
Conditions |
Cash/credit |
|
|
|
Sales Area |
|
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Country |
100% |
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BANIF - BANCO
INTERNACIONAL DO FUNCHAL, SA |
Matosinhos |
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There are no of
incidents on our database |
|
Warehouse Lugar
do Paraíso, Zona Industrial Pevidém, Pevidem, 4800, GUIMARAES |
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Has head office
Avenida VillaGarcia de Arosa, nº 1462, Matosinhos, 4450-301, MATOSINHOS, Tel:229363044,
Fax:229376025 |
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Balance Sheet SNC |
||
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CoinEURO |
|
Date31-12-2011 |
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|
||
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variação (%) |
|
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|||
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ASSET |
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|||
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|
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Non-current
assets |
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|||
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Tangible fixed
assets |
77.589,43 |
97.081,32 |
33.238,32 |
(20,08) |
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Intangible
assets |
|
179,70 |
359,35 |
|
|
Total |
77.589,43 |
97.261,02 |
33.597,67 |
(20,23) |
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|
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|
|
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Current assets |
|
|
||
|
Inventories |
541.860,00 |
1.046.022,10 |
178.176,10 |
(48,20) |
|
Costumers |
284.990,29 |
524.120,94 |
522.520,99 |
(45,63) |
|
Advances to
suppliers |
50.198,10 |
12.600,00 |
27.500,00 |
298,40 |
|
State and other
public entities |
109.580,14 |
77.853,75 |
26.742,85 |
40,75 |
|
Shareholders/partners
|
|
|
23.400,00 |
|
|
Other accounts
receivable |
97.716,32 |
325,80 |
300,00 |
29.892,73 |
|
Deferrals |
4.944,35 |
3.477,42 |
3.140,27 |
42,18 |
|
Cashier and
bank deposits |
192.238,92 |
214.961,51 |
1.383.497,89 |
(10,57) |
|
Total |
1.281.528,12 |
1.879.361,52 |
2.165.278,10 |
(31,81) |
|
TOTAL ASSET |
1.359.117,55 |
1.976.622,54 |
2.198.875,77 |
(31,24) |
|
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|
|
|
|
|
SHAREHOLDERS
FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS |
|
|
||
|
Capital |
100.000,00 |
100.000,00 |
100.000,00 |
|
|
Legal reserves |
9.703,00 |
8.983,00 |
8.733,00 |
8,02 |
|
Other reserves |
191.406,22 |
177.920,82 |
173.267,40 |
7,58 |
|
Total |
301.109,22 |
286.903,82 |
282.000,40 |
4,95 |
|
Net income for the
period |
20.590,82 |
14.205,40 |
4.903,42 |
44,95 |
|
TOTAL OF
SHAREHOLDERS FUNDS |
321.700,04 |
301.109,22 |
286.903,82 |
6,84 |
|
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|
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LIABILITY |
|
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||
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|
|
|
|
|
Non-current
liiabilities |
|
|
||
|
Financing
obtained |
377.948,70 |
307.987,02 |
|
22,72 |
|
Total |
377.948,70 |
307.987,02 |
|
22,72 |
|
|
|
|
|
|
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Current
liabilities |
|
|
||
|
Suppliers |
263.483,91 |
115.462,28 |
281.015,94 |
128,20 |
|
Advances from
costumers |
65.368,05 |
682.836,80 |
74.651,30 |
(90,43) |
|
State and other
public entities |
27.021,94 |
7.418,38 |
27.808,28 |
264,26 |
|
Financing
obtained |
228.756,34 |
424.954,98 |
1.423.783,60 |
(46,17) |
|
Other payable
accounts |
74.838,57 |
136.853,86 |
104.712,83 |
(45,31) |
|
Total |
659.468,81 |
1.367.526,30 |
1.911.971,95 |
(51,78) |
|
TOTAL
LIABILITIES |
1.037.417,51 |
1.675.513,32 |
1.911.971,95 |
(38,08) |
|
TOTAL
SHAREHOLDERS FUNDS AND LIABILITIES |
1.359.117,55 |
1.976.622,54 |
2.198.875,77 |
(31,24) |
|
|
|
|
|
|
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INCOME STATEMENT
|
|
|
||
|
|
|
|
|
|
|
INCOME AND
EXPENSES |
|
|
||
|
Sales and
services |
2.971.792,20 |
2.865.778,86 |
3.260.748,96 |
3,70 |
|
Cost of goods
sold and materials consumed |
2.243.345,63 |
2.265.433,44 |
2.428.593,39 |
(0,97) |
|
Suppliers and
external services |
412.668,25 |
429.017,89 |
512.424,42 |
(3,81) |
|
Personnel costs
|
148.622,16 |
89.327,01 |
148.227,59 |
66,38 |
|
Other income
and gains |
24.362,56 |
102.467,09 |
6.961,71 |
(76,22) |
|
Other expenses
and losses |
110.098,31 |
49.004,24 |
108.313,64 |
124,67 |
|
Result before
depreciation, financing costs and taxes |
81.420,41 |
135.463,37 |
70.151,63 |
(39,89) |
|
Expenses/reversals
of depreciation and amortization |
24.139,88 |
25.447,57 |
30.653,72 |
(5,14) |
|
Operating
result (before financing costs and taxes) |
57.280,53 |
110.015,80 |
39.497,91 |
(47,93) |
|
interest and
similar expenses incurred |
15.533,45 |
81.643,77 |
18.600,82 |
(80,97) |
|
Net before
taxes |
41.747,08 |
28.372,03 |
20.897,09 |
47,14 |
|
Income tax of
the period |
21.156,26 |
14.166,63 |
15.993,67 |
49,34 |
|
Net profit for
the period |
20.590,82 |
14.205,40 |
4.903,42 |
44,95 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
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.