MIRA
INFORM REPORT
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Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
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Name : |
LLUCH ESSENCE SL |
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Registered Office : |
Calle Gaiter Del Llobregat (Lo) 158, El Prat |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1999 |
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Com. Reg. No.: |
B62129267 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Wholesaler of chemical products |
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No. of Employees : |
81 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Spain |
A2 |
A2 |
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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.
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Source : CIA |
Company name & address
Lluch Essence Sl
Calle Gaiter Del Llobregat (Lo) 158
El Prat De Llobregat, 08820
Spain
Tel: +(34) 933793849
Fax: +(34) 933706504
Synthesis
Employees: 81
Company Type: Private Independent
Incorporation Date: 1999
Auditor: G M P Auditores Sap
Financials in: USD
(Millions)
Fiscal Year End: 28-Dec-2012
Reporting Currency: Euro
Annual Sales: 83.8
1
Net Income: 7.5
Total Assets: 58.0
Business Description
Wholesale of chemical products
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 3323 - Industrial
and Agricultural Chemical Product Wholesaling
NACE 2002: 5155 - Wholesale
of chemical products
NAICS 2002: 4246 - Chemical
and Allied Products Merchant Wholesalers
UK SIC 2003: 5155 - Wholesale of
chemical products
UK SIC 2007: 4675 - Wholesale
of chemical products
US SIC 1987: 516 - Chemicals
and Allied Products
Key Executives
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Name |
Title |
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Lluch Boada Alberto |
Managing Director |
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Lluch Saunier Eva |
Commercial Manager, Administrator |
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Sofia Lluch Saunier |
Joint Manager |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7783688
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7559626
Corporate Overview
Location
Calle Gaiter Del Llobregat (Lo) 158
El Prat De Llobregat, 08820
Spain
Tel: +(34) 933793849
Fax: +(34) 933706504
Sales EUR(mil): 65.3
Assets EUR(mil): 43.9
Employees: 81
Fiscal Year End: 28-Dec-2012
Industry: Chemical
Manufacturing
Incorporation Date: 1999
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ESP): B62129267
Managing Director: Lluch
Boada Alberto
Industry Codes
ANZSIC 2006 Codes:
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
NAICS 2002 Codes:
4246 - Chemical and Allied Products Merchant Wholesalers
US SIC 1987:
516 - Chemicals and Allied Products
UK SIC 2003:
5155 - Wholesale of chemical products
UK SIC 2007:
4675 - Wholesale of chemical products
Business
Description
Wholesale of chemical products
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Executive report
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Board
of Directors |
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Joint Manager |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Commercial Manager, Administrator |
Administration Executive |
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Joint Manager |
Administration Executive |
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Charges |
82.9 |
84.8 |
62.9 |
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Supplies |
68.2 |
70.7 |
52.0 |
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Goods
Consumption |
68.2 |
70.7 |
52.0 |
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Staff Costs |
4.8 |
4.6 |
4.3 |
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Wages
and Salaries |
3.9 |
3.9 |
3.6 |
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Social
Security Costs |
0.9 |
0.7 |
0.6 |
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Depreciation |
0.5 |
0.6 |
0.6 |
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Allowance for
Trade Operations |
-0.1 |
0.6 |
0.0 |
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Losses
from Unrecovered Receivables |
-0.1 |
0.6 |
0.0 |
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Other Operating
Charges |
5.4 |
5.2 |
3.4 |
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External
Services |
4.3 |
3.8 |
2.9 |
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Taxes |
1.1 |
1.4 |
0.5 |
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Operating
Benefits |
12.0 |
8.6 |
7.1 |
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Financials and Similar
Charges |
0.6 |
0.3 |
0.5 |
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Due
to Other Liabilities |
0.6 |
0.3 |
0.5 |
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Losses
from Financial Investments |
- |
0.0 |
- |
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Changes in
Financial Investment Provisions |
- |
- |
0.0 |
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Exchange Losses |
- |
0.4 |
0.2 |
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Profit From
Ordinary Activities |
11.6 |
7.9 |
6.5 |
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Changes in
Provisions for Assets |
- |
0.0 |
0.0 |
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Losses From Assets
and Securities Portfolio |
- |
- |
0.0 |
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Extraordinary
Expenses |
- |
- |
0.0 |
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Extraordinary
Profit |
0.0 |
0.0 |
- |
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Profit Before
Taxes |
11.6 |
7.9 |
6.5 |
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Corporation Tax |
3.5 |
2.4 |
1.9 |
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Financial Year
Result (Profit) |
8.1 |
5.5 |
4.5 |
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Income |
91.0 |
90.4 |
67.4 |
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Net Total Sales |
90.7 |
78.8 |
67.3 |
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Sales |
91.4 |
79.3 |
67.8 |
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Sales
Refunds |
-0.6 |
-0.5 |
-0.5 |
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Increase in Stocks |
- |
11.5 |
- |
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Miscellaneous
Operating Income |
0.1 |
0.0 |
0.1 |
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Auxiliary
Income From Current Management |
0.1 |
0.0 |
0.1 |
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Grants |
- |
- |
0.0 |
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Income From
Miscellaneous Interests |
0.0 |
0.0 |
0.0 |
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Miscellaneous
Interests |
0.0 |
0.0 |
0.0 |
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Gains from
Exchange Rate |
0.2 |
- |
- |
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Negative
Financial Results |
0.4 |
0.7 |
0.6 |
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Profit on Disposal
of Assets |
0.0 |
0.0 |
- |
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Extraordinary
Income |
0.0 |
- |
- |
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Negative
Extraordinary Results |
- |
- |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Software |
0.5 |
0.0 |
0.0 |
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Total Intangible
Fixed Assets |
0.5 |
0.0 |
0.0 |
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Land
and Construction |
8.2 |
8.7 |
9.9 |
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Technical
Installations and Machinery |
1.0 |
1.2 |
1.4 |
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Other
Installations, Tools, and Furniture |
0.2 |
0.2 |
0.2 |
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Other
Tangible Assets |
0.2 |
0.3 |
0.3 |
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Total Tangible
Fixed Assets |
9.7 |
10.4 |
11.9 |
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Investments
in Group Companies |
0.0 |
0.0 |
0.0 |
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Long-Term
Guarantees and Deposits |
0.0 |
0.0 |
0.0 |
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Financial
Investments |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
10.2 |
10.4 |
11.9 |
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Goods
for Resale |
23.3 |
27.0 |
16.4 |
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Raw
Materials and Other Consumables |
0.0 |
- |
- |
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Total Stocks |
23.3 |
27.0 |
16.4 |
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Trade
Debtors |
22.8 |
24.0 |
22.5 |
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Staff |
0.0 |
0.0 |
0.0 |
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Public
Bodies |
0.2 |
0.5 |
0.3 |
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Total Debtors |
23.0 |
24.5 |
22.8 |
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Cash |
0.4 |
0.2 |
1.5 |
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Total Current Assets |
46.7 |
51.7 |
40.7 |
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Total Assets |
56.9 |
62.1 |
52.6 |
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Legal
Reserve |
0.6 |
0.6 |
0.7 |
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Miscellaneous
Reserves |
26.6 |
22.7 |
20.1 |
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Capital
Adjustment to Euros |
0.0 |
0.0 |
0.0 |
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Total Reserves |
27.2 |
23.3 |
20.8 |
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Profit or Loss for
the Financial Year |
7.6 |
5.6 |
4.7 |
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Total Equity |
36.5 |
30.7 |
28.8 |
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Loans
and Other Liabilities |
3.1 |
3.5 |
5.1 |
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Total Amounts Owed
to Credit Institutions |
3.1 |
3.5 |
5.1 |
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Long-Term
Guarantees and Deposits Received |
0.0 |
0.0 |
0.0 |
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Total Other
Creditors |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
3.1 |
3.5 |
5.1 |
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Loans
and Other Liabilities |
11.1 |
18.8 |
10.8 |
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Total Amounts Owed
to Credit Institutions |
11.1 |
18.8 |
10.8 |
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Amounts
Owed for Purchases of Goods or Services |
4.5 |
7.2 |
6.0 |
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Total Trade
Creditors |
4.5 |
7.2 |
6.0 |
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Public
Bodies |
1.2 |
1.6 |
1.5 |
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Wages
and Salaries Payable |
0.4 |
0.4 |
0.4 |
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Total Other
Creditors |
1.7 |
2.1 |
1.9 |
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Total Short Term Creditors |
17.3 |
28.0 |
18.7 |
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Total
Liabilities and Equity |
56.9 |
62.1 |
52.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
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UK Pound |
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
|
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 |
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NB |
New Business |
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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.