MIRA INFORM REPORT
|
Report Date : |
03.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PUNTO FA SL |
|
|
|
|
Registered Office : |
C/Mercader, 9-11 - Polig Ind. Riera De Caldes Aptdo 280, Palau De
Plegamans, 08184 |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
1989 |
|
|
|
|
Com. Reg. No.: |
B59088948 |
|
|
|
|
Legal Form : |
Private Parent |
|
|
|
|
Line of Business : |
Retail sale of textiles in specialised stores |
|
|
|
|
No. of Employees : |
3,419 |
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 – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4% in 2012. The economy has once again fallen into recession as deleveraging in the private sector, fiscal consolidation, and continued high unemployment weigh on domestic demand and investment, even as exports have shown signs of resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic downturn has also hurt Spain's public finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has been slow despite the central government's efforts to raise new tax revenue and cut spending. Spain reduced its budget deficit to 9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target negotiated between Spain and the EU. Although Spain's large budget deficit and poor economic growth prospects remain a source of concern for foreign investors, the government's ongoing efforts to cut spending and introduce flexibility into the labor markets are intended to assuage these concerns. The government is also taking steps to shore up the banking system, namely by using up to $130 billion in EU funds to recapitalize struggling banks exposed to the collapsed domestic construction and real estate sectors.
|
Source : CIA |
Company name &
address
PUNTO FA SL
C/Mercader, 9-11 - Polig Ind. Riera De
Caldes Aptdo 280
Palau De Plegamans, 08184
Spain
Tel: +(34) 938602222
Fax: +(34) 938602207
Website :
www.mango.es
SYNTHESIS
Employees: 3,419
Company Type: Private Parent
Corporate Family: 14
Companies
Incorporation Date: 1989
Auditor: Pricewaterhousecoopers
Auditores Sl
Financials in: USD
(mil)
Fiscal Year End: 01-Oct-2012
Reporting Currency: Euro
Annual Sales: 1,305.2 1
Net Income: 31.2
Total Assets: 3,382.2
Business Description
Retail sale of textiles in specialised stores
Industry
Industry Retail (Specialty)
ANZSIC 2006: 4259 - Other
Personal Accessory Retailing
NACE 2002: 5241 - Retail sale
of textiles
NAICS 2002: 448 - Clothing and
Clothing Accessories Stores
UK SIC 2003: 5241 - Retail sale
of textiles
UK SIC 2007: 4751 - Retail sale
of textiles in specialised stores
US SIC 1987: 5949 - Sewing,
Needlework, and Piece Goods Stores
Key Executives
|
||||||||
|
|
News
|
Title |
Date |
|
Textile
Merchants (Spain) |
3-Apr-2013 |
Registered
No.(ESP): B59088948
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7710053
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.77785
Location
C/Mercader, 9-11 - Polig Ind. Riera De Caldes Aptdo 280
Palau De Plegamans, 08184
Spain
Tel: +(34) 938602222
Fax: +(34) 938602207
Website :www.mango.es
Sales EUR(mil): 1,006.3
Assets EUR(mil): 2,630.8
Employees: 3,419
Fiscal Year End: 01-Oct-2012
Industry: Retail
(Specialty)
Incorporation Date: 1989
Company Type: Private
Parent
Quoted Status: Not
Quoted
Registered No.(ESP): B59088948
Chief Executive Officer,
Secretary,
Member Of The Board: Mng Sl Mango
|
||||||||||||||||||||||||||||||||||||
Retail sale of textiles in specialised stores
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||
|
|
CORPORATE
FAMILY |
CORPORATE
STRUCTURE NEWS: |
|
|
|
|
Punto Fa Sl |
|
|
|
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Palau De Plegamans, Barcelona |
Spain |
Retail (Specialty) |
1,305.2 |
3,419 |
|
|
Subsidiary |
Dortmund, Nordrhein-Westfalen |
Germany |
Apparel and Accessories |
118.5 |
780 |
|
|
Subsidiary |
Paris |
France |
Retail (Apparel) |
156.9 |
749 |
|
|
Subsidiary |
Paris |
France |
Retail (Apparel) |
19.9 |
74 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Retail (Apparel) |
60.7 |
557 |
|
|
UK Branch/Trading address |
Milton Keynes |
United Kingdom |
Retail (Apparel) |
60.7 |
6 |
|
|
Subsidiary |
Lisboa, Lisboa |
Portugal |
Retail (Apparel) |
39.1 |
353 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Retail (Apparel) |
34.6 |
255 |
|
|
Subsidiary |
Roma, Roma |
Italy |
Retail (Apparel) |
5.3 |
23 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Apparel and Accessories |
|
70 |
|
|
Subsidiary |
Nea Smyrni |
Greece |
Retail (Apparel) |
6.1 |
40 |
|
|
Subsidiary |
Istanbul (Europe) |
Turkey |
Retail (Apparel) |
82.6 |
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Apparel and Accessories |
57.2 |
|
|
|
Subsidiary |
Rotterdam, Zuid-Holland |
Netherlands |
Retail (Apparel) |
|
|
Executives Report
|
|
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 |
1,577.9 |
1,222.0 |
1,081.4 |
|
Stock Reduction |
3.8 |
- |
4.8 |
|
Supplies |
837.4 |
689.0 |
589.1 |
|
Goods Consumption |
633.3 |
477.0 |
457.4 |
|
Consumption of Raw
Materials |
126.1 |
142.5 |
84.8 |
|
Miscellaneous External
Expenditures |
78.0 |
69.5 |
46.8 |
|
Staff Costs |
183.5 |
159.3 |
156.1 |
|
Wages and Salaries |
142.8 |
123.0 |
120.6 |
|
Social Security Costs |
40.7 |
36.3 |
35.6 |
|
Depreciation |
41.6 |
39.5 |
40.0 |
|
Other Operating Charges |
400.9 |
265.2 |
253.5 |
|
External Services |
397.4 |
251.7 |
249.1 |
|
Taxes |
2.7 |
2.2 |
1.9 |
|
Other Operating
Expenses |
0.8 |
11.3 |
2.4 |
|
Operating Benefits |
114.8 |
170.0 |
189.8 |
|
Financials and Similar Charges |
56.8 |
50.0 |
47.2 |
|
Due to Liabilities
With Group Companies |
11.9 |
7.2 |
7.2 |
|
Due to Other Liabilities |
44.9 |
42.8 |
40.1 |
|
Changes in Financial Investment Provisions |
4.0 |
0.9 |
- |
|
Exchange Losses |
2.0 |
- |
11.6 |
|
Net Financial Income |
- |
18.1 |
- |
|
Profit From Ordinary Activities |
81.5 |
188.0 |
161.6 |
|
Changes in Provisions for Assets |
58.9 |
13.9 |
24.1 |
|
Losses From Assets and Securities Portfolio |
1.2 |
1.1 |
- |
|
Profit Before Taxes |
21.4 |
173.0 |
153.9 |
|
Corporation Tax |
-12.1 |
3.1 |
-44.9 |
|
Financial Year Result (Profit) |
33.5 |
169.9 |
198.8 |
|
Income |
1,611.3 |
1,391.9 |
1,280.2 |
|
Net Total Sales |
1,399.2 |
1,185.7 |
1,121.9 |
|
Sales |
1,384.2 |
1,173.4 |
1,117.8 |
|
Rendering of Services |
15.0 |
12.2 |
4.2 |
|
Sales Refunds |
0.0 |
0.0 |
0.0 |
|
Increase in Stocks |
- |
11.6 |
- |
|
Miscellaneous Operating Income |
182.7 |
125.7 |
111.4 |
|
Auxiliary Income From
Current Management |
182.7 |
125.4 |
111.4 |
|
Grants |
- |
0.3 |
- |
|
Income From Equity Investment |
0.2 |
14.7 |
2.3 |
|
In Group Companies |
0.2 |
14.7 |
2.3 |
|
Income From Other Securities and Receivables |
0.4 |
0.3 |
0.4 |
|
From Group Companies |
0.4 |
0.3 |
0.4 |
|
Income From Miscellaneous Interests |
28.8 |
21.3 |
27.7 |
|
From Group Companies |
0.9 |
0.7 |
1.1 |
|
Miscellaneous
Interests |
26.4 |
7.2 |
18.3 |
|
Profit on Financial
Investment |
1.6 |
13.4 |
8.4 |
|
Gains from Exchange Rate |
- |
32.7 |
- |
|
Negative Financial Results |
33.3 |
- |
28.3 |
|
Profit on Disposal of Assets |
- |
- |
16.4 |
|
Negative Extraordinary Results |
60.1 |
15.1 |
7.7 |
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 |
|
|
|
|
|
|
Fees Paid for Premises |
16.2 |
16.5 |
19.9 |
|
Software |
3.5 |
2.9 |
2.0 |
|
Total Intangible Fixed Assets |
19.7 |
19.4 |
21.9 |
|
Technical
Installations and Machinery |
8.6 |
9.9 |
12.0 |
|
Other Installations,
Tools, and Furniture |
79.8 |
91.6 |
111.1 |
|
Tangible Fixed Assets
Under Construction |
2.1 |
2.9 |
3.6 |
|
Other Tangible Assets |
54.8 |
63.0 |
76.4 |
|
Total Tangible Fixed Assets |
145.3 |
167.4 |
203.1 |
|
Investments in Group
Companies |
1,208.5 |
1,239.2 |
1,260.5 |
|
Receivables from Group
Companies |
68.6 |
56.7 |
62.7 |
|
Long-Term Securities
Portfolio |
1.8 |
- |
- |
|
Other Receivables |
0.0 |
0.1 |
0.7 |
|
Long-Term Guarantees
and Deposits |
5.9 |
5.7 |
6.1 |
|
Financial Investments |
1,284.9 |
1,301.8 |
1,330.0 |
|
Total Fixed Assets |
1,449.9 |
1,488.5 |
1,555.0 |
|
Goods for Resale |
401.7 |
363.2 |
314.7 |
|
Raw Materials and
Other Consumables |
34.6 |
22.2 |
15.0 |
|
Goods in Process |
16.5 |
20.7 |
9.5 |
|
Finished Products |
- |
0.0 |
0.0 |
|
Total Stocks |
452.7 |
406.1 |
339.3 |
|
Trade Debtors |
225.0 |
245.2 |
193.1 |
|
Receivables, Group
Companies |
133.4 |
91.6 |
94.5 |
|
Other Debtors |
9.7 |
7.1 |
4.4 |
|
Staff |
0.3 |
0.2 |
0.1 |
|
Public Bodies |
249.9 |
243.6 |
223.8 |
|
Total Debtors |
618.4 |
587.6 |
516.0 |
|
Short-Term Securities
Portfolio |
419.6 |
114.6 |
65.9 |
|
Other Receivables |
169.8 |
204.5 |
237.3 |
|
Short-Term Guarantees
and Deposits |
0.8 |
1.3 |
- |
|
Total Short-Term Investments |
590.2 |
320.3 |
303.2 |
|
Cash |
294.8 |
77.6 |
153.9 |
|
Prepayments and Accrued Income |
9.2 |
8.9 |
8.9 |
|
Total Current Assets |
1,965.3 |
1,400.5 |
1,321.2 |
|
Total Assets |
3,415.2 |
2,889.1 |
2,876.2 |
|
Revaluation Reserves |
0.6 |
0.5 |
0.5 |
|
Legal Reserve |
0.0 |
0.0 |
0.0 |
|
Miscellaneous Reserves |
485.5 |
457.1 |
415.8 |
|
Total Reserves |
485.5 |
457.1 |
415.8 |
|
Profit or Loss for the Financial Year |
31.3 |
172.1 |
205.0 |
|
Total Equity |
557.8 |
671.6 |
666.0 |
|
Other Provisions |
3.0 |
2.9 |
2.8 |
|
Total Provisions for Liabilities and Charges |
3.0 |
2.9 |
2.8 |
|
Loans and Other
Liabilities |
881.0 |
817.2 |
950.7 |
|
Long-Term Liabilities from
Capital Leases |
29.6 |
42.4 |
59.7 |
|
Total Amounts Owed to Credit Institutions |
910.6 |
859.7 |
1,010.3 |
|
Amounts Owed to Group
Companies |
1,032.6 |
301.8 |
371.6 |
|
Total Debts with Group or Affiliated Companies |
1,032.6 |
301.8 |
371.6 |
|
Long-Term Guarantees
and Deposits Received |
4.9 |
10.6 |
3.4 |
|
Long-Term Payables to
Public Bodies |
27.8 |
21.0 |
17.8 |
|
Total Other Creditors |
32.6 |
31.5 |
21.3 |
|
Total Long Term Liabilities |
1,975.9 |
1,193.0 |
1,403.2 |
|
Loans and Other
Liabilities |
512.4 |
707.0 |
592.8 |
|
Short-Term Liabilities
from Capital Leases |
18.5 |
21.7 |
26.7 |
|
Total Amounts Owed to Credit Institutions |
530.9 |
728.7 |
619.5 |
|
Amounts Owed to Group Companies |
76.1 |
35.7 |
14.6 |
|
Total Short-Term Amounts Owed to Group and
Associa |
76.1 |
35.7 |
14.6 |
|
Amounts Owed for
Purchases of Goods or Services |
236.6 |
217.9 |
136.5 |
|
Total Trade Creditors |
236.6 |
217.9 |
136.5 |
|
Public Bodies |
18.3 |
19.9 |
12.6 |
|
Miscellaneous Debts |
- |
- |
2.7 |
|
Wages and Salaries
Payable |
6.6 |
6.8 |
6.5 |
|
Total Other Creditors |
24.9 |
26.6 |
21.8 |
|
Prepayments and Accrued Income |
10.0 |
12.6 |
11.8 |
|
Total Short Term Creditors |
878.5 |
1,021.6 |
804.2 |
|
Total Liabilities and Equity |
3,415.2 |
2,889.1 |
2,876.2 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.59.41 |
|
UK Pound |
1 |
Rs.90.38 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)