|
Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TECNIMEDE-SOCIEDADE TECNICO-MEDICINAL SA |
|
|
|
|
Registered Office : |
Rua da Tapada Grande, 2 Abrunheira 2710-089-Sintra Lisboa |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
25.08.1976 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sale of pharmaceuticals |
|
|
|
|
No. of Employees : |
339 |
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 : |
Good |
|
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 |
TECNIMEDE-SOCIEDADE TECNICO-MEDICINAL SA |
|
V.A.T. Number / NIF |
500626413 |
|
Denomination |
Laboratório Tecnimede |
|
Address |
Rua da Tapada Grande, 2 |
|
Locality |
Abrunheira |
|
Postal Code |
2710-089-SINTRA |
|
Municipality |
SINTRA |
|
District |
LISBOA |
|
Telephone |
210414100 |
|
Fax |
210414104 |
|
E-Mail |
daf@tecnimede.pt |
|
Web Site |
www.tecnimede.pt |
|
|
|
|
C.A.E.(Rev 3) |
21201- Manufacture of medicines |
|
|
|
All the amounts
are express in Euros, otherwise you will be advised |
|
|
|
|
Board of Director's |
|
|
MARIA DO CARMO NEVES DA SILVA RUAS DA
SILVA |
Board of Director's President |
|
MIGUEL RUAS DA SILVA |
Administrator |
|
ANTONIO AUGUSTO DE MIRANDA LEMOS ROMAO
DONATO |
Administrator |
|
|
|
|
Fiscal Board |
|
|
LEOPOLDO ALVES E ASSOCIADOS-SOCIEDADE DE REVISORES
OFICIAIS DE CONTAS |
Fiscal Board Substitute |
|
GRANT THORNTON & ASSOCIADOS-SROC LDA |
Unique Fiscal |
|
Registed on the Register Record Office of Loures
with the Register Number 500626413 previous number 2453 in 26-11-1976 |
|
Constitution celebrated in 25-08-1976
published on Diário da República number 238 of 11-10-1976 |
|
To oblige the company it is necessary 2
signature |
|
Changes to Society |
|
In 02-11-2012 on Portal MJ of 15-02-2013
board of director's change |
|
In 30-08-2009 on Portal MJ of 24-09-2009
board of director's change |
|
In 06-08-2009 on Portal MJ of 07-08-2009
increase of capital |
|
In 26-03-2009 on Portal MJ of 27-03-2009 increase
of capital |
|
In 27-11-2008 on Portal MJ of 02-12-2008
head office change |
|
The Capital is 15.100.000,00 , divided in
3020000 shares , with a nominal value of 5,00 |
|
|
Line of Business |
Percentage |
|
Manufacture and sale of pharmaceuticals |
100% |
|
|
|
Type of Clients |
Pharmacies |
|
|
|
Sales Conditions |
Contract |
|
|
|
Sales Area |
|
|
|
|
Country |
100% |
|
|
|
Imports |
50% |
from |
ITALIA,HUNGRIA,FRANÇA,JAPĂO,SUIÇA |
|
Laboratório Tecnimede |
|
MILLENNIUM BCP |
Centro Empresas Lisboa IV |
|
BANCO ESPIRITO SANTO, SA |
Centro Empresas do Lumiar |
|
BANCO SANTANDER TOTTA SA |
Sacavém |
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
22-10-2010 |
23073/10.3T2SNT |
Omnithea
Pharmaceuticals, Lda. |
Ordinária |
4.641.206,39 |
Comarca da Grande Lisboa-Noroeste-Juízos
de Sintra |
2 |
|
|
28-09-2009 |
1220/09.8TYLSB |
Lilly Portugal-
Produtos Farmaceuticos,LdŞ. |
Ordinária |
30.000,01 |
Lisboa - Tribunal do Comércio |
|
|
|
28-09-2009 |
1220/09.8TYLSB |
Eli Lilly And
Company Limited |
Ordinária |
30.000,01 |
Lisboa - Tribunal do Comércio |
|
|
|
08-04-2009 |
470/09.1TYLSB |
Novartis, Ag |
Ordinária |
30.000,01 |
Lisboa |
3 |
|
|
08-04-2009 |
470/09.1TYLSB |
Novartis Farma
Produtos Farmaceuticos S A |
Ordinária |
30.000,01 |
Lisboa |
3 |
|
|
Total |
339 |
|
|
|
|
|
|
|
Had head office Urbanizaçăo da Quinta
Nova, Rua B - Lote 131/A, Sacavem, 2685, SACAVEM |
|
Installations Estrada Nacional 109, na Quinta
Simăo, r/c - Pt. 1, Aveiro, 3810-140, AVEIRO, Tel:234305440 |
|
Installations Rua Barăo Corvo, 880 - 1ş -
S 5, Vila Nova D Egaia, 4400-037, VILA NOVA DE GAIA |
|
Installations Rua Professor Henrique
Barros - Edificio Sagres, 4/B, Sacavem, 2685-338, PRIOR VELHO, Tel:219408919 |
|
Had installations Quinta Lamas, Lote 1/3-C
- Paiă Telf.: 214 784 366, Pontinha, 1675, PONTINHA |
|
Office owned Rua Professor Henrique de
Barros - Edificio Sagres, 3A, Sacavem, 2685-338, PRIOR VELHO, Tel:219427006 |
|
Installations Quinta da Francelha, 3/A -
3ş A, Prior Velho, 2685-331, PRIOR VELHO, Tel:219427224 |
|
Installations Quinta da Francelha -
Edificio Sagres, 5/A, Prior Velho, 2685-331, PRIOR VELHO, Tel:219405017 |
|
Had installations Rua B, Quinta Nova - Lote
131/A, Sacavem, 2685, SACAVEM |
|
Had installations Estrada Militar Caixaria
- Dois Portos Telf.: 261 710 000, Torres Vedras, 2560, TORRES VEDRAS |
|
Had head office Rua Professor Henrique de
Barros - Edifício Sagres, 11ş, Sacavem, 2685-338, PRIOR VELHO |
|
Head office and installations Rua da
Tapada Grande, 2, Abrunheira, 2710-089, SINTRA, Tel:219410839 |
|
Installations Estrada Quinta 148 ,
Alcabideche, 2645-436, ALCABIDECHE, Tel:214452187 |
|
Had installations Quinta da Cerca - Caixaria
- Dois Portos, Torres Vedras, 2560, TORRES VEDRAS |
|
Had installations Estrada Paiă, Lote
1/Armazém C - Paiă Telf.: 214 794 666, Pontinha, 1675, PONTINHA |
|
Event |
General Description |
|
Merge |
A 31-07-2005, fusăo por incorporaçăo
mediante transferęncia global do património da firma Labor Qualitas-Estudos e
Controle na Qualidade SA na titular. |
|
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 |
3.472.230,59 |
3.980.322,31 |
4.722.827,02 |
(12,77) |
|
Investment properties |
2.908.392,30 |
2.963.062,43 |
3.017.732,63 |
(1,85) |
|
Intangible assets |
1.259.706,00 |
1.141.078,86 |
1.354.034,76 |
10,40 |
|
Financial participations - patrimonial
equity method |
35.368.564,33 |
29.190.457,89 |
25.820.496,64 |
21,16 |
|
Financial participations - other methods |
79.731,70 |
124.731,71 |
124.731,71 |
(36,08) |
|
Deferred tax assets |
63.812,50 |
85.083,33 |
|
(25,00) |
|
Total |
43.152.437,42 |
37.484.736,53 |
35.039.822,76 |
15,12 |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
18.171.297,58 |
15.737.433,39 |
17.148.285,11 |
15,47 |
|
Costumers |
16.083.280,82 |
16.494.180,11 |
14.976.763,62 |
(2,49) |
|
Advances to suppliers |
567.384,18 |
455.029,71 |
850.064,11 |
24,69 |
|
State and other public entities |
5.250.051,57 |
709.975,18 |
2.328.966,97 |
639,47 |
|
Shareholders/partners |
1.713.382,94 |
1.660.122,89 |
856.151,40 |
3,21 |
|
Other accounts receivable |
207.835,58 |
208.877,13 |
939.222,85 |
(0,50) |
|
Deferrals |
99.726,92 |
132.697,21 |
97.304,50 |
(24,85) |
|
Cashier and bank deposits |
15.973.757,52 |
13.495.073,02 |
4.273.978,88 |
18,37 |
|
Total |
58.066.717,11 |
48.893.388,64 |
41.470.737,44 |
18,76 |
|
TOTAL ASSET |
101.219.154,53 |
86.378.125,17 |
76.510.560,20 |
17,18 |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
15.100.000,00 |
15.100.000,00 |
15.100.000,00 |
|
|
Legal reserves |
1.982.942,61 |
1.139.062,48 |
919.760,99 |
74,09 |
|
Other reserves |
1.645.074,30 |
1.645.074,30 |
1.645.074,30 |
|
|
Net retained |
5.945.201,69 |
(10.088.520,74) |
(14.255.249,09) |
(158,93) |
|
Adjustments on financial assets |
9.021.327,22 |
8.114.360,02 |
9.167.093,11 |
11,18 |
|
Other shareholders funds changes |
63.812,50 |
85.083,33 |
|
(25,00) |
|
Total |
33.758.358,32 |
15.995.059,39 |
12.576.679,31 |
111,05 |
|
Net income for the period |
13.089.463,58 |
16.877.602,56 |
4.386.029,84 |
(22,44) |
|
TOTAL OF SHAREHOLDERS FUNDS |
46.847.821,90 |
32.872.661,95 |
16.962.709,15 |
42,51 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Provisions |
119.711,50 |
779.091,30 |
649.424,77 |
(84,63) |
|
Financing obtained |
12.383.684,06 |
17.475.608,34 |
20.491.986,56 |
(29,14) |
|
Total |
12.503.395,56 |
18.254.699,64 |
21.141.411,33 |
(31,51) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
31.438.368,46 |
25.183.978,18 |
24.558.303,58 |
24,83 |
|
Advances from costumers |
69.305,33 |
49.854,99 |
49.758,22 |
39,01 |
|
State and other public entities |
242.444,78 |
229.019,08 |
231.805,50 |
5,86 |
|
Shareholders/partners |
1.166.395,11 |
1.311.011,12 |
2.026.641,39 |
(11,03) |
|
Financing obtained |
4.995.449,61 |
5.016.389,00 |
6.406.115,63 |
(0,42) |
|
Other payable accounts |
3.890.975,92 |
3.236.395,67 |
4.772.480,95 |
20,23 |
|
Financial liabilities held for trading |
64.997,86 |
224.115,54 |
361.334,45 |
(71,00) |
|
Total |
41.867.937,07 |
35.250.763,58 |
38.406.439,72 |
18,77 |
|
TOTAL LIABILITIES |
54.371.332,63 |
53.505.463,22 |
59.547.851,05 |
1,62 |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
101.219.154,53 |
86.378.125,17 |
76.510.560,20 |
17,18 |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
78.289.541,81 |
83.639.100,87 |
72.257.442,57 |
(6,40) |
|
Operating government grants |
4.708,36 |
15.971,92 |
2.235,48 |
(70,52) |
|
Gains/losses allocated subsidiaries,
associates and joint ventures |
4.571.212,07 |
2.143.655,98 |
(1.557.354,56) |
113,24 |
|
Variation in production inventories |
28.834.803,45 |
28.466.348,02 |
26.162.473,65 |
1,29 |
|
Cost of goods sold and materials consumed |
42.430.129,83 |
39.843.002,47 |
36.523.216,57 |
6,49 |
|
Suppliers and external services |
42.568.076,29 |
45.811.642,02 |
42.121.705,85 |
(7,08) |
|
Personnel costs |
7.928.890,63 |
7.597.257,01 |
8.362.173,40 |
4,37 |
|
Impairment of inventories
(losses/revearsals) |
(771.594,01) |
253.151,15 |
300.838,83 |
(404,80) |
|
Impairment of receivables
(losses/revearsals) |
|
|
23.717,59 |
|
|
Provisions (increases/reductions) |
(129.666,53) |
129.666,53 |
|
(200,00) |
|
Increases/decreases in fair value |
159.117,68 |
137.218,91 |
|
15,96 |
|
Other income and gains |
2.627.559,96 |
1.995.110,09 |
1.530.580,91 |
31,70 |
|
Other expenses and losses |
7.009.143,90 |
2.887.575,01 |
3.752.592,86 |
142,73 |
|
Result before depreciation, financing
costs and taxes |
15.451.963,22 |
19.875.111,60 |
7.311.132,95 |
(22,25) |
|
Expenses/reversals of depreciation and
amortization |
1.539.237,63 |
1.446.868,66 |
1.561.964,63 |
6,38 |
|
Operating result (before financing costs
and taxes) |
13.912.725,59 |
18.428.242,94 |
5.749.168,32 |
(24,50) |
|
Interest and similar income obtained |
445.437,97 |
68.556,92 |
4.862,73 |
549,73 |
|
interest and similar expenses incurred |
781.515,49 |
791.363,87 |
1.166.287,62 |
(1,24) |
|
Net before taxes |
13.576.648,07 |
17.705.435,99 |
4.587.743,43 |
(23,32) |
|
Income tax of the period |
487.184,49 |
827.833,43 |
201.713,59 |
(41,15) |
|
Net profit for the period |
13.089.463,58 |
16.877.602,56 |
4.386.029,84 |
(22,44) |
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
0,279 |
0,513 |
0,259 |
|
|
Assets Profitability |
0,137 |
0,213 |
0,075 |
|
|
Sales Net Profitability |
0,167 |
0,202 |
0,061 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
74,983 |
71,98 |
75,653 |
|
|
Asset Rotation |
0,773 |
0,968 |
0,944 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
4,523 |
5,765 |
4,273 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
1,387 |
1,387 |
1,08 |
|
|
Reduced Liquidity |
0,953 |
0,941 |
0,633 |
|
|
Immediate Liquidity |
0,382 |
0,383 |
0,111 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,463 |
0,381 |
0,222 |
|
|
Solvability |
0,862 |
0,614 |
0,285 |
|
|
Borrowed Capital Structure |
0,77 |
0,659 |
0,645 |
|
|
General Debt |
0,371 |
0,684 |
1,586 |
|
|
Medium Long Term Debt |
0,264 |
0,532 |
1,208 |
|
|
Debt Structure |
0,77 |
0,659 |
0,645 |
|
|
Capital Structure |
3,747 |
1,801 |
0,802 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
2,577 |
2,377 |
6,216 |
|
|
Financial Leverage Level |
1,025 |
1,041 |
1,253 |
|
|
Combined Leverage Level |
2,641 |
2,474 |
7,789 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
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.