MIRA INFORM REPORT
|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CRISPIM ABREU & COMPANHIA LDA |
|
|
|
|
Registered Office : |
Lugar De São Bartolomeu - Serzedelo, Apartado 38, Serzedelo,
4765-556-Serzedelo Gmr, Vila Nova De Famalicao, Braga |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.01.1981 |
|
|
|
|
Com. Reg. No.: |
501152300 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of knitted fabrics |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
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) |
|
Portugal |
B1 |
B1 |
|
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 following two decades, successive governments
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 grew by more than the EU average for much of the 1990s, but the rate of
growth slowed in 2001-08. The economy contracted 2.5% in 2009, before growing
1.4% in 2010, but GDP fell again in 2011 and 2012, as the government began
implementing spending cuts and tax increases 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. Portugal also has been increasingly
overshadowed by lower-cost producers in Central Europe and Asia as a
destination for foreign direct investment, in part because its rigid labor
market hindered greater productivity and growth. However, the government of
Pedro PASSOS COELHO has enacted several measures to introduce more flexibility
into the labor market, and, this, along with steps to reduce high levels of
public debt, could make Portugal more attractive to foreign investors. 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.
The budget deficit worsened in 2012 as a sharp reduction in domestic
consumption took a bigger bite out of value-added tax revenues while rising
unemployment benefits increased expenditures more than anticipated. Poor growth
prospects over the next year have reinforced investors' concerns about the
government's ability to achieve its budget deficit targets and regain full
access to bond market financing when the EU-IMF financing program expires in
2013.
|
Source : CIA |
Identification
|
Name |
CRISPIM ABREU & COMPANHIA LDA |
|
V.A.T. Number / NIF |
501152300 |
|
Denomination |
Cenoura |
|
Address |
Lugar de São Bartolomeu - Serzedelo,
Apartado 38 |
|
Locality |
Serzedelo |
|
Postal Code |
4765-556-SERZEDELO GMR |
|
Municipality |
VILA NOVA DE FAMALICAO |
|
District |
BRAGA |
|
Telephone |
252900850 |
|
Fax |
252900859 |
|
E-Mail |
info@crispimabreu.pt |
|
Web Site |
www.crispimabreu.pt |
|
|
|
|
C.A.E.(Rev 3) |
13910- Manufacture of knitted fabrics |
Summary
|
Legal Form |
Private Limited Company |
|
Constitution |
26-01-1981 |
|
V.A.T. Number / NIF |
501152300 |
|
Capital |
498.797,90 |
|
Sales in : 31-12-2011 |
14.307.434,46 |
|
Shareholders Funds in: 31-12-2011 |
9.265.079,14 |
|
Payments |
Not Determined |
Financial Highlights
|
|
31-12-2009 |
|
31-12-2010 |
|
31-12-2011 |
|
Net Sales |
18.635.735,53 |
|
15.078.776,05 |
|
14.307.434,46 |
|
Net Income For the Year |
1.192.080,36 |
|
512.737,26 |
|
517.299,60 |
|
Shareholders Funds |
9.109.109,93 |
|
8.984.310,40 |
|
9.265.079,14 |
|
Stocks |
800.489,27 |
|
1.512.485,19 |
|
1.098.261,10 |
|
LIABILITY |
5.890.138,75 |
|
5.577.494,12 |
|
4.692.004,75 |
|
ASSETS |
14.999.248,68 |
|
14.561.804,52 |
|
13.957.083,89 |
Business Concept
Consulted sources say that the subject has
been respecting its payments and commercial commitments. However, the incident(s)
that we join should be considered in credit connections.
All the amounts
are express in Euros, otherwise you will be advised
Management Bodies
|
CRISPIM HORACIO COSTA ABREU |
Managing-Partner |
|
VIRGINIA PRECIOSA PEDROSA DE ABREU |
Managing-Partner |
Legal Structure
|
Registed on the Register Record Office of
Guimaraes with the Register Number 501152300 previous number 2566 in
27-01-1981 |
|
Constitution celebrated in 26-01-1981
published on Diário da República of 14-03-1981 |
|
To oblige the company it is necessary 1
signatures |
|
Changes to Society |
|
In 16-10-1995 on Diário da República number 88 of 15-04-1996 increase
of capital |
Capital
The Capital is 498.797,90
with the following distribution
|
CRISPIM HORACIO COSTA ABREU |
448.918,11 |
90% |
|
VIRGINIA PRECIOSA PEDROSA DE ABREU |
49.879,79 |
10% |
Biographies
|
|
|
|
Name |
CRISPIM HORACIO COSTA ABREU |
|
Funtion |
Managing-Partner |
|
Address |
Casa da Lameira |
|
Locality |
Riba De Ave |
|
Birth Date |
25-02-1954 |
|
Naturality |
Vila Nova de Famalicão |
|
Civil State |
Married |
|
Consort |
Virgínia Preciosa Pedrosa de Abreu |
|
Previous Connections |
Foi sócio gerente da firma Empreendave-Construções
e Empreendimentos do Ave Lda, até á data da sua falência. |
|
Professional Connections |
The subject has connections with the
following company (ies) |
|
|
CRISPIM ABREU-INVESTIMENTOS IMOBILIARIOS
LDA as Partner with a participation of 12.469,95 , in a capital of 24.939,90
. |
|
|
TEXTIL MCM MOCAMBIQUE S.A. as
Administrator . |
|
|
EMPRESA INDUSTRIAL DO VALE DO AVE LDA as
Partner with a participation of 12.625,82 , in a capital of 29.927,87 . |
|
|
CASASOFT-INDUSTRIA DE TEXTEIS LAR LDA as
Partner with a participation of 24.939,90 , in a capital of 49.879,79 . |
|
|
POLO-INDUSTRIA DE VESTUARIO LDA as
Managing-Partner with a participation of 64.843,73 , in a capital of
99.759,58 . |
|
|
|
|
Name |
VIRGINIA PRECIOSA PEDROSA DE ABREU |
|
Funtion |
Managing-Partner |
|
Address |
Casa da Lameira |
|
Locality |
Riba De Ave |
|
Naturality |
Vila Nova de Famalicão |
|
Civil State |
Married |
|
Consort |
Crispim Horácio da Costa Abreu |
|
Professional Connections |
The subject has connections with the
following company (ies) |
|
|
CASASOFT-INDUSTRIA DE TEXTEIS LAR LDA as
Partner with a participation of 24.939,90 , in a capital of 49.879,79 . |
|
|
CRISPIM ABREU-INVESTIMENTOS IMOBILIARIOS LDA
as Partner with a participation of 12.469,95 , in a capital of 24.939,90 . |
|
|
EMPRESA INDUSTRIAL DO VALE DO AVE LDA as
Partner with a participation of 5.050,33 , in a capital of 29.927,87 . |
|
|
POLO-INDUSTRIA DE VESTUARIO LDA as Managing-Partner
with a participation of 34.915,85 , in a capital of 99.759,58 . |
Activities
|
Line of Business |
Percentage |
|
Indústria e comércio de têxteis |
100% |
|
Type of Clients |
Retailers/Public |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
50% |
Foreign |
50% |
|
Imports |
50% |
|
|
|
Exports |
50% |
to |
ESPANHA,ITALIA,ALEMANHA,ESTADOS UNIDOS DA
AMERICA |
|
Trade Marks |
|
Cenoura |
|
Casa Soft |
Denominations
|
Cenoura |
Banks and Financial Institutions
|
MILLENNIUM BCP |
Riba de Ave - Vila Nova de Famalicão |
|
BANCO TOTTA |
Pevidem-Vila Nova de Famalicão |
|
CAIXA GERAL DE DEPOSITOS, SA |
Guimarães |
|
BARCLAYS BANK, PLC |
Vila Nova de Famalicão |
|
BANIF - BANCO INTERNACIONAL DO FUNCHAL, SA |
Vila Nova de Famalicão |
Incidents
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
|
2590/10.0TBGMR |
|
Executiva Comum |
165.271,23 |
Guimarães - Tribunal Judicial |
|
|
|
|
715/09.8YYPRT |
|
Executiva Comum |
10.061,29 |
Porto |
1 |
|
|
|
43/09.9TBGMR |
|
Executiva Comum |
5.611,84 |
Guimarães |
|
|
05-07-2010
Trigémeos - Sociedade de Confecções, Lda.
Insurance
REAL Companhia de Seguros SA
Head Office and Installations
Head office and factory owned Lugar de São
Bartolomeu - Serzedelo, Apartado 38, Riba De Ave, 4765, RIBA DE AVE,
Tel:252900850, Fax:252900859
Shop Rua Braamcamp, 50-A/B, Lisboa, 1250-051,
LISBOA, Tel:213861639
Shop Rua Luís Veiga Leitão, Centro Comercial
Brasilia, Loja 101, Porto, 4050-339, PORTO, Tel:226092287
Shop Rua de Sara Afonso, Norte Shopping,
Loja 219, Matosinhos, 4450, MATOSINHOS, Tel:229541261
Shop Centro Comercial Fonte Nova, Loja 92,
Benfica, 1500, LISBOA, Tel:217153845
Special Information
|
Event |
General Description |
|
Additional |
A titular tem 6 lojas, em regime de Franchising. |
Financial Demonstration SNC
|
||
|
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 |
1.928.693,09 |
2.363.213,56 |
2.972.195,24 |
(18,39) |
|
Intangible assets |
200.000,00 |
200.000,00 |
200.000,00 |
|
|
Financial participations - patrimonial
equity method |
|
2.478,34 |
2.478,34 |
|
|
Financial participations - other methods |
12.266,66 |
12.266,66 |
12.266,66 |
|
|
Other financial assets |
4.015.936,27 |
3.246.063,12 |
616.555,91 |
23,72 |
|
Deferred tax assets |
15.341,60 |
20.455,46 |
25.569,32 |
(25,00) |
|
Total |
6.172.237,62 |
5.844.477,14 |
3.829.065,47 |
5,61 |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
1.098.261,10 |
1.512.485,19 |
800.489,27 |
(27,39) |
|
Costumers |
5.720.779,32 |
6.076.027,03 |
5.341.386,03 |
(5,85) |
|
Advances to suppliers |
42.381,44 |
2.472,00 |
|
1.614,46 |
|
State and other public entities |
446.612,28 |
394.936,54 |
133.115,84 |
13,08 |
|
Shareholders/partners |
3.546,94 |
359,94 |
3.925,57 |
885,43 |
|
Other accounts receivable |
109.965,73 |
132.075,75 |
95.652,41 |
(16,74) |
|
Deferrals |
106.713,74 |
108.335,77 |
106.554,70 |
(1,50) |
|
Financial assets held for trading |
927,44 |
2.234,74 |
2.863,69 |
(58,50) |
|
Cashier and bank deposits |
255.658,28 |
488.400,42 |
4.686.195,70 |
(47,65) |
|
Total |
7.784.846,27 |
8.717.327,38 |
11.170.183,21 |
(10,70) |
|
TOTAL ASSET |
13.957.083,89 |
14.561.804,52 |
14.999.248,68 |
(4,15) |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
498.797,90 |
498.797,90 |
498.797,90 |
|
|
Other shareholders funds instruments |
1.997.685,58 |
1.997.685,58 |
1.997.685,58 |
|
|
Legal reserves |
362.842,04 |
362.842,04 |
350.761,68 |
|
|
Other reserves |
5.647.731,62 |
5.652.298,44 |
5.072.298,44 |
(0,08) |
|
Net retained |
214.038,28 |
(93.585,12) |
(83.637,87) |
(328,71) |
|
Adjustments on financial assets |
(2.188,32) |
(2.188,32) |
(2.188,32) |
|
|
Other shareholders funds changes |
28.872,44 |
55.722,62 |
83.312,16 |
(48,19) |
|
Total |
8.747.779,54 |
8.471.573,14 |
7.917.029,57 |
3,26 |
|
Net income for the period |
517.299,60 |
512.737,26 |
1.192.080,36 |
0,89 |
|
TOTAL OF SHAREHOLDERS FUNDS |
9.265.079,14 |
8.984.310,40 |
9.109.109,93 |
3,13 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Provisions |
|
376.696,80 |
376.696,80 |
|
|
Financing obtained |
384.718,74 |
388.323,09 |
396.697,48 |
(0,93) |
|
Diferred taxes liabilities |
10.613,97 |
20.294,65 |
30.241,90 |
(47,70) |
|
Total |
395.332,71 |
785.314,54 |
803.636,18 |
(49,66) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
2.374.588,42 |
2.858.052,02 |
3.999.887,58 |
(16,92) |
|
Advances from costumers |
3.956,00 |
|
|
|
|
State and other public entities |
173.220,94 |
124.517,84 |
265.339,62 |
39,11 |
|
Shareholders/partners |
964.497,05 |
805.475,50 |
307.529,87 |
19,74 |
|
Financing obtained |
254.871,89 |
544.272,40 |
15.409,44 |
(53,17) |
|
Other payable accounts |
495.472,51 |
459.861,82 |
498.336,06 |
7,74 |
|
Deferrals |
30.065,23 |
|
|
|
|
Total |
4.296.672,04 |
4.792.179,58 |
5.086.502,57 |
(10,34) |
|
TOTAL LIABILITIES |
4.692.004,75 |
5.577.494,12 |
5.890.138,75 |
(15,88) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
13.957.083,89 |
14.561.804,52 |
14.999.248,68 |
(4,15) |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
14.307.434,46 |
15.078.776,05 |
18.635.735,53 |
(5,12) |
|
Operating government grants |
|
|
16.605,63 |
|
|
Gains/losses allocated subsidiaries,
associates and joint ventures |
(2.397,74) |
103,60 |
|
(2.414,42) |
|
Variation in production inventories |
(290.259,71) |
174.135,47 |
(405.610,31) |
(266,69) |
|
Cost of goods sold and materials consumed |
5.915.129,50 |
5.963.755,22 |
5.357.330,90 |
(0,82) |
|
Suppliers and external services |
4.739.884,94 |
5.687.065,42 |
7.029.424,67 |
(16,65) |
|
Personnel costs |
2.585.971,45 |
2.604.415,47 |
3.278.916,51 |
(0,71) |
|
Impairment of receivables (losses/revearsals)
|
36.143,46 |
52.384,63 |
204.293,15 |
(31,00) |
|
Provisions (increases/reductions) |
(28.152,56) |
|
376.696,80 |
|
|
Increases/decreases in fair value |
(1.370,30) |
(628,95) |
|
117,87 |
|
Other income and gains |
660.159,51 |
675.267,74 |
858.782,11 |
(2,24) |
|
Other expenses and losses |
148.542,89 |
180.698,05 |
281.911,27 |
(17,79) |
|
Result before depreciation, financing
costs and taxes |
1.276.046,54 |
1.439.335,12 |
2.576.939,66 |
(11,34) |
|
Expenses/reversals of depreciation and
amortization |
519.814,77 |
708.349,43 |
886.736,96 |
(26,62) |
|
Operating result (before financing costs
and taxes) |
756.231,77 |
730.985,69 |
1.690.202,70 |
3,45 |
|
interest and similar expenses incurred |
14.322,30 |
611,87 |
1.568,14 |
2.240,74 |
|
Net before taxes |
741.909,47 |
730.373,82 |
1.688.634,56 |
1,58 |
|
Income tax of the period |
224.609,87 |
217.636,56 |
496.554,20 |
3,20 |
|
Net profit for the period |
517.299,60 |
512.737,26 |
1.192.080,36 |
0,89 |
RATIOS SNC
|
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
0,056 |
0,057 |
0,131 |
|
|
Assets Profitability |
0,054 |
0,05 |
0,113 |
|
|
Sales Net Profitability |
0,036 |
0,034 |
0,064 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
145,944 |
147,077 |
104,616 |
|
|
Asset Rotation |
1,025 |
1,036 |
1,242 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
3,245 |
3,5 |
4,05 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
1,812 |
1,819 |
2,196 |
|
|
Reduced Liquidity |
1,556 |
1,503 |
2,039 |
|
|
Immediate Liquidity |
0,06 |
0,102 |
0,921 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,664 |
0,617 |
0,607 |
|
|
Solvability |
1,975 |
1,611 |
1,547 |
|
|
Borrowed Capital Structure |
0,916 |
0,859 |
0,864 |
|
|
General Debt |
0,069 |
0,104 |
0,045 |
|
|
Medium Long Term Debt |
0,042 |
0,043 |
0,044 |
|
|
Debt Structure |
0,916 |
0,859 |
0,864 |
|
|
Capital Structure |
23,436 |
11,44 |
11,335 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
11,098 |
12,469 |
7,856 |
|
|
Financial Leverage Level |
1,019 |
1,001 |
1,001 |
|
|
Combined Leverage Level |
11,309 |
12,481 |
7,864 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
UK Pound |
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.