MIRA
INFORM REPORT
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Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
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Name : |
FILANDER SL |
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Registered Office : |
Calle Casp 54, Barcelona, 08010 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1992 |
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Com. Reg. No.: |
B60056348 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesaler of textiles |
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No. of Employees : |
04 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
|
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
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, 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 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in
Spain''s economic growth reflected a significant decline in construction amid
an oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain
concerned that Madrid may need to bail out more troubled banks. The Bank of
Spain, however, is seeking to boost confidence in the financial sector by
pressuring banks to come clean about their losses and consolidate into stronger
groups.
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Source : CIA |
Company name & address
Filander Sl
Calle Casp 54
Barcelona, 08010
Spain
Tel: +(34) 934124995
Fax: +(34) 934127208
Web: www.filander.com
Synthesis
Employees: 4
Company Type: Private Independent
Incorporation Date: 1992
Auditor: Francisco Tarre Sinfreu
Financials in: USD
(Millions)
Fiscal Year End:
20-Aug-2012
Reporting Currency: Euro
Annual Sales: 15.1
1
Net Income: 0.1
Total Assets: 8.5
Business Description
Wholesale of textiles
Industry
Industry Apparel and Accessories
ANZSIC 2006: 3711 - Textile
Product Wholesaling
NACE 2002: 5141 - Wholesale
of textiles
NAICS 2002: 424310 - Piece Goods,
Notions, and Other Dry Goods Merchant Wholesalers
UK SIC 2003: 5141 - Wholesale
of textiles
UK SIC 2007: 4641 - Wholesale
of textiles
US SIC 1987: 5131 - Piece
Goods, Notions, and Other Dry Good
Key
Executives
|
Name |
Title |
|
Jorge Jover Berenguer |
Member Of The Board, President |
|
Pacheco Agatha |
Financial Director |
|
Mercedes Jover Marti |
Secretary, Member Of The Board |
|
Sidon Javier |
Commercial Manager |
|
Jorge Jover Coll |
Member Of The Board |
Registered No.(ESP): B60056348
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.763333
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.81065
Corporate Overview
Location
Calle Casp 54
Barcelona, 08010
Spain
Tel: +(34) 934124995
Fax: +(34) 934127208
Web: www.filander.com
Sales EUR(mil): 11.5
Assets EUR(mil): 6.9
Employees: 4
Fiscal Year End: 20-Aug-2012
Industry: Apparel and Accessories
Incorporation Date: 1992
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(ESP): B60056348
Member Of The
Board, President:
Jorge Jover Berenguer
Industry Codes
ANZSIC 2006 Codes:
3711 - Textile Product Wholesaling
NACE 2002 Codes:
5141 - Wholesale of textiles
NAICS 2002 Codes:
424310 - Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers
US SIC 1987:
5131 - Piece Goods, Notions, and Other Dry Good
UK SIC 2003:
5141 - Wholesale of textiles
UK SIC 2007:
4641 - Wholesale of textiles
Business
Description
Wholesale of textiles
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Executive report
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Board of
Directors |
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Member Of The Board, President |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Secretary, Member Of The Board |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Executives |
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Member Of The Board, President |
President |
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Managing Director |
Managing Director |
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Secretary, Member Of The Board |
Administration Executive |
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Financial Director |
Finance Executive |
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Commercial Manager |
Commercial 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 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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|
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Charges |
15.9 |
14.6 |
9.8 |
|
Supplies |
14.1 |
12.5 |
8.2 |
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Goods
Consumption |
14.1 |
12.5 |
8.2 |
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Consumption
of Raw Materials |
- |
0.0 |
0.0 |
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Miscellaneous
External Expenditures |
0.0 |
0.0 |
0.0 |
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Staff Costs |
0.3 |
0.3 |
0.3 |
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Wages
and Salaries |
0.3 |
0.3 |
0.3 |
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Social
Security Costs |
0.1 |
0.1 |
0.0 |
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Depreciation |
0.0 |
0.0 |
0.0 |
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Allowance for
Trade Operations |
0.1 |
0.4 |
0.1 |
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Losses
from Unrecovered Receivables |
0.1 |
0.4 |
0.1 |
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Other Operating
Charges |
1.0 |
1.0 |
0.9 |
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External
Services |
1.0 |
1.0 |
0.9 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Operating
Benefits |
0.5 |
0.9 |
0.3 |
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Financials and
Similar Charges |
0.3 |
0.3 |
0.3 |
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Due
to Other Liabilities |
0.3 |
0.3 |
0.3 |
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Changes in
Financial Investment Provisions |
- |
0.0 |
- |
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Exchange Losses |
- |
0.0 |
0.0 |
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Profit From Ordinary
Activities |
0.2 |
0.5 |
- |
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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 |
0.2 |
0.5 |
0.0 |
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Corporation Tax |
0.1 |
-0.1 |
0.0 |
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Financial Year
Result (Profit) |
0.1 |
0.6 |
0.0 |
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Income |
16.1 |
15.2 |
9.8 |
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Net Total Sales |
16.0 |
15.2 |
9.8 |
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Sales |
16.9 |
16.0 |
10.3 |
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Rendering
of Services |
- |
- |
0.1 |
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Sales
Refunds |
-0.9 |
-0.8 |
-0.5 |
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Income From Equity
Investment |
0.0 |
0.0 |
0.0 |
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Third
Parties |
0.0 |
0.0 |
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 |
0.0 |
- |
- |
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Negative
Financial Results |
0.3 |
0.3 |
0.3 |
|
Ordinary
Activities' Losses |
- |
- |
0.0 |
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Profit on Disposal
of Assets |
0.0 |
- |
- |
|
Extraordinary
Income |
- |
- |
0.0 |
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Negative
Extraordinary Results |
- |
0.0 |
- |
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 |
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Consolidated |
No |
No |
No |
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|
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Software |
- |
0.0 |
0.0 |
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Total Intangible Fixed
Assets |
- |
0.0 |
0.0 |
|
Land
and Construction |
0.0 |
0.0 |
0.0 |
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Other
Installations, Tools, and Furniture |
0.1 |
0.0 |
0.1 |
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Other
Tangible Assets |
0.0 |
0.0 |
0.0 |
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Total Tangible
Fixed Assets |
0.1 |
0.1 |
0.1 |
|
Investments
in Associated Companies |
- |
- |
0.0 |
|
Long-Term
Securities Portfolio |
0.0 |
0.0 |
0.0 |
|
Long-Term
Guarantees and Deposits |
0.0 |
- |
0.0 |
|
Financial
Investments |
0.0 |
0.0 |
0.1 |
|
Total Fixed Assets |
0.2 |
0.1 |
0.2 |
|
Goods
for Resale |
3.2 |
3.9 |
3.2 |
|
Payments
on Account |
- |
0.3 |
0.1 |
|
Total Stocks |
3.2 |
4.2 |
3.3 |
|
Trade
Debtors |
4.5 |
5.2 |
3.2 |
|
Receivables,
Associated Companies |
- |
- |
0.2 |
|
Public
Bodies |
0.6 |
0.2 |
0.2 |
|
Total Debtors |
5.0 |
5.4 |
3.7 |
|
Cash |
0.6 |
0.5 |
0.2 |
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Total Current Assets |
8.8 |
10.1 |
7.2 |
|
Total Assets |
9.0 |
10.2 |
7.3 |
|
Legal
Reserve |
0.2 |
0.2 |
0.2 |
|
Miscellaneous
Reserves |
2.5 |
2.6 |
2.7 |
|
Capital
Adjustment to Euros |
0.0 |
0.0 |
0.0 |
|
Total Reserves |
2.7 |
2.7 |
2.9 |
|
Prior
Year Losses |
-0.1 |
-0.7 |
-0.8 |
|
Profit or Loss
Brought Forward |
-0.1 |
-0.7 |
-0.8 |
|
Profit or Loss for
the Financial Year |
0.1 |
0.6 |
0.0 |
|
Total Equity |
3.8 |
3.8 |
3.4 |
|
Loans
and Other Liabilities |
- |
0.1 |
0.2 |
|
Long-Term
Liabilities from Capital Leases |
0.0 |
0.0 |
0.0 |
|
Total Amounts Owed
to Credit Institutions |
0.0 |
0.1 |
0.3 |
|
Long-Term
Payables to Public Bodies |
0.0 |
0.0 |
0.0 |
|
Total Other
Creditors |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.1 |
0.1 |
0.3 |
|
Loans
and Other Liabilities |
3.6 |
4.2 |
1.9 |
|
Short-Term
Liabilities from Capital Leases |
0.0 |
0.0 |
0.0 |
|
Total Amounts Owed
to Credit Institutions |
3.7 |
4.2 |
1.9 |
|
Amounts
Owed for Purchases of Goods or Services |
1.0 |
1.7 |
1.1 |
|
Total Trade
Creditors |
1.0 |
1.7 |
1.1 |
|
Public
Bodies |
0.0 |
0.0 |
0.0 |
|
Miscellaneous
Debts |
0.4 |
0.4 |
0.7 |
|
Wages
and Salaries Payable |
0.0 |
0.0 |
0.0 |
|
Total Other
Creditors |
0.5 |
0.5 |
0.7 |
|
Total Short Term Creditors |
5.2 |
6.4 |
3.7 |
|
Total
Liabilities and Equity |
9.0 |
10.2 |
7.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
UK Pound |
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.71.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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.