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Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
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Name : |
EUROZOULIKA DISTRIBUCIONES SL |
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Registered Office : |
C/ General Astilleros, 46 - Local 1. Melilla, 52006 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
2007 |
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Com. Reg. No.: |
B52018454 |
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Legal Form : |
Private Independent |
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Line of Business : |
Non-specialised wholesale of food, beverages and tobacco |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
Eurozoulika
Distribuciones Sl
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Business
Description
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Non-specialised wholesale of food, beverages and tobacco |
Industry
|
Industry |
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ANZSIC 2006: |
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NACE 2002: |
5139 - Non-specialised wholesale of food, beverages
and tobacco |
|
NAICS 2002: |
424490 - Other Grocery and Related Products Merchant
Wholesalers |
|
UK SIC 2003: |
5139 - Non-specialised wholesale of food, beverages
and tobacco |
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UK SIC 2007: |
4639 - Non-specialised wholesale of food, beverages
and tobacco |
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US SIC 1987: |
5149 - Groceries and Related Products, Not Elsewhere
Classified |
Key Executives
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7742318
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7710325
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Executives
Report
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|
|
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 |
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Consolidated |
No |
No |
No |
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Charges |
29.8 |
17.8 |
14.1 |
|
Staff Costs |
0.1 |
0.1 |
0.0 |
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Social Security Costs |
0.1 |
0.1 |
0.0 |
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Depreciation |
0.0 |
- |
0.0 |
|
Other Operating Charges |
0.2 |
0.2 |
0.2 |
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Operating Benefits |
0.6 |
0.3 |
0.2 |
|
Financials and Similar Charges |
- |
0.0 |
- |
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Due to Other
Liabilities |
- |
0.0 |
- |
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Losses from Financial
Investments |
- |
0.0 |
- |
|
Exchange Losses |
0.0 |
- |
- |
|
Net Financial Income |
- |
- |
0.0 |
|
Profit From Ordinary Activities |
0.5 |
0.3 |
0.2 |
|
Extraordinary Expenses |
- |
0.0 |
0.0 |
|
Extraordinary Profit |
0.0 |
- |
- |
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Profit Before Taxes |
0.6 |
0.3 |
0.2 |
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Corporation Tax |
0.1 |
0.0 |
0.0 |
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Financial Year Result (Profit) |
0.5 |
0.2 |
0.2 |
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Income |
30.3 |
18.0 |
14.3 |
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Net Total Sales |
30.3 |
18.0 |
14.3 |
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Negative Financial Results |
0.0 |
0.0 |
- |
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Extraordinary Income |
0.0 |
- |
- |
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Negative Extraordinary Results |
- |
0.0 |
0.0 |
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Annual Balance
Sheet |
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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 |
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Consolidated |
No |
No |
No |
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Total Tangible Fixed Assets |
0.9 |
1.0 |
0.1 |
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Total Fixed Assets |
0.9 |
1.0 |
0.1 |
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Total Stocks |
5.4 |
2.7 |
1.7 |
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Total Debtors |
0.5 |
0.0 |
- |
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Total Short-Term Investments |
0.4 |
0.2 |
0.0 |
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Cash |
0.5 |
0.2 |
0.3 |
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Total Current Assets |
6.7 |
3.1 |
2.0 |
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Total Assets |
7.7 |
4.1 |
2.1 |
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Profit or Loss Brought Forward |
0.6 |
0.4 |
0.2 |
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Profit or Loss for the Financial Year |
0.5 |
0.2 |
0.2 |
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Total Equity |
1.0 |
0.6 |
0.4 |
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Total Long Term Liabilities |
0.5 |
0.6 |
- |
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Total Short Term Creditors |
6.1 |
2.9 |
1.8 |
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Total Liabilities and Equity |
7.7 |
4.1 |
2.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
|
|
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.76.89 |
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 |
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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 |
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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 |
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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 |
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-- |
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.