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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
BARATA & RAMILO, S.A. |
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|
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Registered Office : |
Rua Do Sistelo, 755 Santegãos Rio Tinto, 4435-452 |
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Country : |
Portugal |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.05.1974 |
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Com. Reg. No.: |
500590753 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Subject engaged in retail sale of footwear; and retail sale of leather goods |
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No. of Employees : |
182 |
RATING & COMMENTS
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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 |
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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
|
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 |
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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 |
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
Barata &
Ramilo, S.A.
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Business
Description
|
Barata & Ramilo, S.A. is primarily engaged in retail sale of
footwear; and retail sale of leather goods. |
Industry
|
Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
4772 - Retail sale of footwear and leather goods in
specialised stores |
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US SIC 1987: |
Key Executives
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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Barata &
Ramilo, S.A. |
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Barhold, S.G.P.S., S.A. |
Parent |
|
|
|
|
|
|
Subsidiary |
Rio Tinto, Gondomar |
Portugal |
Retail (Specialty) |
69.4 |
182 |
Executives
Report
|
|
|
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 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
73.7 |
59.2 |
48.2 |
|
Net sales |
69.4 |
56.1 |
46.7 |
|
Other operating income |
4.3 |
3.0 |
1.6 |
|
Cost of goods sold |
32.0 |
25.1 |
20.1 |
|
Cost of sales |
32.0 |
25.1 |
20.1 |
|
Service costs |
24.7 |
20.2 |
15.4 |
|
Total payroll costs |
7.5 |
5.2 |
5.9 |
|
Fixed asset depreciation and amortisation |
1.9 |
1.5 |
1.4 |
|
Other operating costs |
2.4 |
3.4 |
0.9 |
|
Total financial income |
- |
0.1 |
0.0 |
|
Total expenses |
0.5 |
0.2 |
0.2 |
|
Profit before tax |
4.3 |
3.4 |
3.6 |
|
Total taxation |
1.1 |
1.2 |
0.4 |
|
Net profit |
3.2 |
2.2 |
3.2 |
|
|
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Annual Balance
Sheet |
|
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 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
0.1 |
0.1 |
0.1 |
|
Total reserves |
6.8 |
4.8 |
1.8 |
|
Profits for the year |
3.0 |
2.2 |
3.3 |
|
Profit brought forward from previous year(s) |
7.9 |
8.2 |
-0.2 |
|
Capital subsidies and grants |
2.2 |
2.2 |
2.4 |
|
Total stockholders equity |
20.0 |
17.5 |
7.3 |
|
Other long-term liabilities |
10.6 |
10.2 |
7.5 |
|
Trade creditors |
9.8 |
8.8 |
5.5 |
|
Advances received |
0.1 |
0.1 |
0.1 |
|
Bank loans and overdrafts |
4.1 |
4.3 |
0.9 |
|
Loans from principals |
- |
- |
0.0 |
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Taxes |
0.6 |
0.7 |
5.8 |
|
Other current liabilities |
5.5 |
6.4 |
6.2 |
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Total current liabilities |
20.1 |
20.3 |
18.4 |
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Total debts |
30.8 |
30.5 |
25.9 |
|
Total liabilities (including net worth) |
50.8 |
48.1 |
33.2 |
|
Intangibles |
0.1 |
0.2 |
0.1 |
|
Total tangible fixed assets |
5.4 |
5.0 |
5.0 |
|
Other financial assets |
0.8 |
0.8 |
0.9 |
|
Net stocks and work in progress |
7.5 |
10.9 |
4.8 |
|
Trade debtors |
15.4 |
8.6 |
4.3 |
|
Other receivables |
1.0 |
1.5 |
0.5 |
|
General accounts |
5.6 |
3.4 |
2.7 |
|
Money on deposit at bank(s) |
10.2 |
13.0 |
11.3 |
|
Recoverable taxation |
1.4 |
1.5 |
0.0 |
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Total current assets |
41.1 |
38.9 |
23.6 |
|
Prepaid expenses and deferred costs |
3.3 |
3.2 |
3.6 |
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Total assets |
50.8 |
48.1 |
33.2 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
2.20 |
2.10 |
1.50 |
|
Acid test ratio |
1.80 |
1.50 |
1.20 |
|
Total liabilities to net worth |
0.65% |
0.57% |
0.28% |
|
Net worth to total assets |
0.39% |
0.37% |
0.22% |
|
Current liabilities to net worth |
1.01% |
1.16% |
2.51% |
|
Current liabilities to stock |
2.70% |
1.87% |
3.83% |
|
Fixed assets to net worth |
0.32% |
0.34% |
0.82% |
|
Collection period |
86.80 |
55.10 |
32.90 |
|
Stock turnover rate |
8.70 |
5.20 |
10.00 |
|
Asset utilisation |
0.78% |
0.85% |
0.69% |
|
Creditors to sales |
47.50 |
53.70 |
53.80 |
|
Asset turnover |
1.28% |
1.18% |
1.45% |
|
Profit margin |
0.05% |
0.04% |
0.07% |
|
Return on assets |
0.06% |
0.05% |
0.10% |
|
Shareholders' return |
0.15% |
0.13% |
0.44% |
|
Sales per employee |
274.32 |
286.44 |
- |
|
Profit per employee |
12.82 |
11.10 |
- |
|
Return on capital |
0.10% |
0.08% |
0.22% |
|
Net worth |
20.0 |
17.5 |
7.3 |
|
Number of employees |
182 |
148 |
148 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.