|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIOUX PORTUGUESA-FABRICA DE CALCADO UNIPESSOAL LDA |
|
|
|
|
Registered Office : |
Avenida 5 de Outubro, 481 Boim 4620-184-Boim Lousada Porto |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
06.11.1985 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of footwear |
|
|
|
|
No. of Employees : |
330 |
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) |
|
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
|
Name |
SIOUX
PORTUGUESA-FABRICA DE CALCADO UNIPESSOAL LDA |
|
V.A.T. Number / NIF |
501574174 |
|
Address |
Avenida
5 de Outubro, 481 |
|
Locality |
Boim |
|
Postal Code |
4620-184-BOIM |
|
Municipality |
LOUSADA |
|
District |
PORTO |
|
Telephone |
255810160 |
|
Fax |
255811420 |
|
E-Mail |
sioux.pt@mail.telepac.pt |
|
Web Site |
www.sioux.de |
|
|
|
|
C.A.E.(Rev 3) |
15201-
Manufacture of footwear |
|
|
|
All the amounts
are express in Euros, otherwise you will be advised |
|
ADNAN BILGI |
Manager |
|
PETER PAUL MATHIJS MARIE JANSSEN |
Manager |
|
Registed on the Register Record Office of
Lousada with the Register Number 501574174 previous number 215 in 06-11-1985 |
|
Constitution celebrated in 06-11-1985
published on Diário da República number 189 of 19-08-1985 |
|
To oblige the company it is necessary 1
signatures |
|
Changes to Society |
|
In 25-02-2013 on Portal MJ of 28-02-2013
manager change |
|
In 14-03-2011 on Portal MJ of 29-04-2011
manager change |
|
In 14-03-2011 on Portal MJ of 10-05-2011
manager change |
|
In 29-06-2010 on Portal MJ of 29-06-2010
manager change |
|
In 01-09-2009 on Portal MJ of 07-09-2009
manager change |
|
The Capital is 748.196,84 |
|
|
with the following distribution |
|
|
SIOUX GMBH |
748.196,84 |
100% |
|
|
|
|
Name |
ADNAN BILGI |
|
Funtion |
Manager |
|
|
|
|
Name |
PETER PAUL MATHIJS MARIE JANSSEN |
|
Funtion |
Manager |
|
|
|
|
NAME |
SIOUX GMBH |
|
Funtion |
Partner |
|
Address |
Finkenweg, 2-4, D 74399, Walheim |
|
Locality |
Alemanha |
|
Line of Business |
Percentage |
|
Fabrico de calçado |
100% |
|
Type of Clients |
Retailers/Wholesalers |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
100% |
|
|
|
MILLENNIUM BCP |
LOUSADA - C.Empresas - Guimarăes |
|
BANCO ESPIRITO SANTO, SA |
|
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
15-03-2011 |
23130/11.9YIPRT |
PT Comunicacoes,
SA |
Especial Cump.Obrig. Pecuniarias DL 269/98 |
602,75 |
Chaves - Tribunal Judicial |
|
|
|
Total |
330 |
|
Trade Mark |
Quantity |
License Number |
|
Ford Transit |
|
VI-35-01 |
|
Companhia Seguros Allianz Portugal SA |
|
Has head office S.JORGE-BOIM , Lousada,
4620, LOUSADA |
|
Has installations Lugar de Săo Jorge,
P.O.Box 10, Boim, 4620-031, BOIM |
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2011 |
|
|
||
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variaçăo (%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current assets |
|
|||
|
Tangible fixed assets |
2.174.139,29 |
2.204.887,04 |
715.768,23 |
(1,39) |
|
Intangible assets |
34.356,50 |
31.531,98 |
4.294,33 |
8,96 |
|
Total |
2.208.495,79 |
2.236.419,02 |
720.062,56 |
(1,25) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
116.307,31 |
124.140,18 |
140.834,33 |
(6,31) |
|
Costumers |
2.152,50 |
26.876,12 |
266.817,76 |
(91,99) |
|
State and other public entities |
156.423,14 |
134.387,02 |
72.348,14 |
16,40 |
|
Other accounts receivable |
14.826,32 |
12.849,68 |
7.969,66 |
15,38 |
|
Deferrals |
4.298,62 |
3.010,52 |
1.334,29 |
42,79 |
|
Cashier and bank deposits |
76.317,09 |
30.312,67 |
43.686,38 |
151,77 |
|
Total |
370.324,98 |
331.576,19 |
532.990,56 |
11,69 |
|
TOTAL ASSET |
2.578.820,77 |
2.567.995,21 |
1.253.053,12 |
0,42 |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
748.196,84 |
748.196,84 |
748.196,84 |
|
|
Legal reserves |
22.901,45 |
22.901,45 |
22.901,45 |
|
|
Net retained |
(1.027.869,66) |
(302.308,69) |
(210.643,41) |
240,01 |
|
Revaluation surplus |
1.213.507,22 |
1.248.847,35 |
|
(2,83) |
|
Total |
956.735,85 |
1.717.636,95 |
560.454,88 |
(44,30) |
|
Net income for the period |
(575.835,68) |
(742.705,90) |
(91.665,28) |
(22,47) |
|
TOTAL OF SHAREHOLDERS FUNDS |
380.900,17 |
974.931,05 |
468.789,60 |
(60,93) |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Financing obtained |
15.889,52 |
500.000,00 |
77.504,45 |
(96,82) |
|
Diferred taxes liabilities |
343.204,40 |
331.190,71 |
|
3,63 |
|
Total |
359.093,92 |
831.190,71 |
77.504,45 |
(56,80) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
737.679,50 |
319.565,22 |
218.524,02 |
130,84 |
|
State and other public entities |
122.309,06 |
90.694,40 |
93.344,82 |
34,86 |
|
Shareholders/partners |
653.235,94 |
|
|
|
|
Financing obtained |
3.864,08 |
77.504,45 |
103.192,32 |
(95,01) |
|
Other payable accounts |
321.738,10 |
274.109,38 |
291.697,91 |
17,38 |
|
Total |
1.838.826,68 |
761.873,45 |
706.759,07 |
141,36 |
|
TOTAL LIABILITIES |
2.197.920,60 |
1.593.064,16 |
784.263,52 |
37,97 |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
2.578.820,77 |
2.567.995,21 |
1.253.053,12 |
0,42 |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
4.473.551,44 |
3.904.334,51 |
2.518.017,36 |
14,58 |
|
Variation in production inventories |
25.426,54 |
(43.327,79) |
(12.186,79) |
(158,68) |
|
Cost of goods sold and materials consumed |
1.865.881,06 |
1.353.385,58 |
789.292,07 |
37,87 |
|
Suppliers and external services |
670.432,96 |
506.487,93 |
279.284,78 |
32,37 |
|
Personnel costs |
2.504.581,40 |
2.706.761,72 |
1.495.892,50 |
(7,47) |
|
Other income and gains |
157.577,47 |
113.055,36 |
52.178,32 |
39,38 |
|
Other expenses and losses |
11.247,23 |
21.556,23 |
9.149,09 |
(47,82) |
|
Result before depreciation, financing
costs and taxes |
(395.587,20) |
(614.129,38) |
(15.609,55) |
(35,59) |
|
Expenses/reversals of depreciation and
amortization |
144.006,47 |
99.015,24 |
69.320,84 |
45,44 |
|
Operating result (before financing costs
and taxes) |
(539.593,67) |
(713.144,62) |
(84.930,39) |
(24,34) |
|
interest and similar expenses incurred |
33.763,96 |
26.945,45 |
5.548,24 |
25,30 |
|
Net before taxes |
(573.357,63) |
(740.090,07) |
(90.478,63) |
(22,53) |
|
Income tax of the period |
2.478,05 |
2.615,83 |
1.186,65 |
(5,27) |
|
Net profit for the period |
(575.835,68) |
(742.705,90) |
(91.665,28) |
(22,47) |
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
(1,512) |
(0,762) |
(0,196) |
|
|
Assets Profitability |
(0,209) |
(0,278) |
(0,068) |
|
|
Sales Net Profitability |
(0,129) |
(0,19) |
(0,036) |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
0,176 |
2,512 |
38,676 |
|
|
Asset Rotation |
1,735 |
1,52 |
2,01 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
1,041 |
0,942 |
1,156 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
0,201 |
0,435 |
0,754 |
|
|
Reduced Liquidity |
0,138 |
0,272 |
0,555 |
|
|
Immediate Liquidity |
0,042 |
0,04 |
0,062 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,148 |
0,38 |
0,374 |
|
|
Solvability |
0,173 |
0,612 |
0,598 |
|
|
Borrowed Capital Structure |
0,837 |
0,478 |
0,901 |
|
|
General Debt |
0,052 |
0,592 |
0,385 |
|
|
Medium Long Term Debt |
0,042 |
0,513 |
0,165 |
|
|
Debt Structure |
0,837 |
0,478 |
0,901 |
|
|
Capital Structure |
1,061 |
1,173 |
6,049 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
(4,833) |
(3,577) |
(20,355) |
|
|
Financial Leverage Level |
0,941 |
0,964 |
0,939 |
|
|
Combined Leverage Level |
(4,548) |
(3,448) |
(19,113) |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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.