MIRA INFORM REPORT
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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
JOSE GOMEZ BENET
SA |
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Registered Office : |
C/ Vic, 15., Sant Cugat Del Valles, 08190 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1975 |
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Com. Reg. No.: |
A08376931 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacture of
articles of fur |
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No. of Employees : |
31 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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
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.
|
Source
: CIA |
COPANY NAME & ADDRESS
JOSE GOMEZ BENET
SA
C/ Vic, 15.
Sant Cugat Del Valles, 08190
Spain
Tel: +(34) 933232600
Fax: +(34) 933236307
Website : www.goes.es
SYNTHESIS
Employees: 31
Company Type: Public Independent
Incorporation Date: 1975
Auditor: Josep
M. Masso
Financials in: USD
(mil)
Fiscal Year End: 28-Sep-2012
Reporting Currency: Euro
Annual Sales: 16.5 1
Net Income: 0.1
Total Assets: 15.6
Business Description
Manufacture of
articles of fur
Industry
Industry Apparel and
Accessories
ANZSIC 2006: 1351 - Clothing
Manufacturing
NACE 2002: 1830 - Dressing
and dyeing of fur; manufacture of articles of fur
NAICS 2002: 316110 - Leather
and Hide Tanning and Finishing
UK SIC 2003: 1830 - Dressing
and dyeing of fur; manufacture of articles of fur
UK SIC 2007: 1511 - Tanning and
dressing of leather; dressing and dyeing of fur
US SIC 1987: 2371 - Fur Goods
Key Executives
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Registered
No.(ESP):A08376931
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7705342
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7719989
Location
C/ Vic, 15.
Sant Cugat Del Valles, 08190
Spain
Tel: +(34) 933232600
Fax: +(34) 933236307
website :www.goes.es
Sales EUR(mil): 12.7
Assets EUR(mil): 12.0
Employees: 31
Fiscal Year End: 28-Sep-2012
Industry: Apparel
and Accessories
Incorporation Date: 1975
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(ESP): A08376931
Member Of The Board, Yolanda
Combined Chief Executive Officer, Gomez
Chief Executive Officer: Escuer
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Location |
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Tel: |
+(34) 934517998 |
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Executives Report
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Board of
Directors |
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President, Member Of The Board |
Director/Board Member |
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Member Of The Board, Combined Chief Executive Officer, Chief Executive
Officer |
Director/Board Member |
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Chief Executive Officer, 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, Combined Chief Executive Officer, Chief Executive
Officer |
Chief Executive Officer |
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Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
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President, Member Of The Board |
President |
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Non Consellor Secretary |
Administration Executive |
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Financial Director |
Finance Executive |
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Commercial Manager |
Commercial Executive |
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 |
17.9 |
16.0 |
18.0 |
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Stock Reduction |
- |
- |
0.3 |
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Supplies |
13.8 |
12.2 |
13.7 |
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Goods
Consumption |
13.3 |
11.8 |
13.2 |
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Consumption
of Raw Materials |
0.2 |
0.2 |
0.2 |
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Miscellaneous
External Expenditures |
0.3 |
0.2 |
0.2 |
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Staff Costs |
2.1 |
2.1 |
2.0 |
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Wages
and Salaries |
1.7 |
1.6 |
1.6 |
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Social
Security Costs |
0.4 |
0.4 |
0.4 |
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Depreciation |
0.3 |
0.3 |
0.3 |
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Allowance for
Trade Operations |
0.0 |
0.0 |
0.0 |
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Losses
from Unrecovered Receivables |
0.0 |
0.0 |
0.0 |
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Other Operating
Charges |
1.2 |
1.2 |
1.2 |
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External
Services |
1.2 |
1.1 |
1.2 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Other
Operating Expenses |
0.0 |
0.0 |
0.0 |
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Operating Benefits |
0.6 |
0.2 |
0.7 |
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Financials and
Similar Charges |
0.2 |
0.3 |
0.3 |
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Due
to Other Liabilities |
0.2 |
0.3 |
0.3 |
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Exchange Losses |
0.1 |
- |
0.2 |
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Profit From Ordinary Activities |
0.3 |
0.0 |
0.3 |
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Extraordinary
Expenses |
0.1 |
- |
- |
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Extraordinary Profit |
- |
0.0 |
- |
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Profit Before Taxes |
0.1 |
0.0 |
0.3 |
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Corporation Tax |
0.0 |
0.0 |
0.1 |
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Financial Year Result (Profit) |
0.1 |
0.0 |
0.2 |
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Income |
18.0 |
16.0 |
18.1 |
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Net Total Sales |
17.7 |
15.8 |
17.9 |
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Sales |
17.7 |
15.8 |
17.9 |
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Increase in Stocks |
0.3 |
0.0 |
- |
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Miscellaneous
Operating Income |
- |
0.0 |
0.2 |
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Auxiliary
Income From Current Management |
- |
0.0 |
0.2 |
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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 |
0.2 |
0.4 |
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Extraordinary
Income |
- |
0.0 |
- |
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Negative Extraordinary Results |
0.1 |
- |
- |
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Concessions,
Patents, Trademarks |
- |
- |
0.0 |
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Software |
0.0 |
0.0 |
0.0 |
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Total Intangible
Fixed Assets |
0.0 |
0.0 |
0.1 |
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Land
and Construction |
4.4 |
4.7 |
5.1 |
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Technical
Installations and Machinery |
0.1 |
0.1 |
0.2 |
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Other
Installations, Tools, and Furniture |
0.1 |
0.1 |
0.1 |
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Other
Tangible Assets |
0.1 |
0.1 |
0.2 |
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Total Tangible
Fixed Assets |
4.6 |
5.0 |
5.6 |
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Long-Term
Securities Portfolio |
0.2 |
0.2 |
0.2 |
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Long-Term
Guarantees and Deposits |
0.1 |
0.1 |
0.1 |
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Financial Investments |
0.4 |
0.3 |
0.3 |
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Total Fixed Assets |
5.0 |
5.3 |
6.0 |
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Goods
for Resale |
4.7 |
4.6 |
6.8 |
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Raw
Materials and Other Consumables |
1.4 |
1.4 |
2.0 |
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Payments
on Account |
0.0 |
0.1 |
0.0 |
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Total Stocks |
6.0 |
6.1 |
8.8 |
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Trade
Debtors |
3.3 |
3.7 |
6.2 |
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Receivables,
Group Companies |
- |
0.0 |
- |
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Other
Debtors |
0.1 |
- |
- |
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Staff |
- |
0.0 |
0.1 |
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Public
Bodies |
0.1 |
0.1 |
0.2 |
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Total Debtors |
3.6 |
3.8 |
6.5 |
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Other
Receivables |
- |
0.1 |
- |
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Short-Term
Guarantees and Deposits |
- |
- |
0.0 |
|
Total Short-Term
Investments |
- |
0.1 |
0.0 |
|
Cash |
0.8 |
0.9 |
0.3 |
|
Prepayments and
Accrued Income |
0.2 |
0.1 |
- |
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Total Current Assets |
10.6 |
10.9 |
15.5 |
|
Total Assets |
15.6 |
16.2 |
21.6 |
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Legal
Reserve |
0.2 |
0.2 |
0.2 |
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Miscellaneous
Reserves |
8.2 |
8.5 |
11.2 |
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Total Reserves |
8.4 |
8.6 |
11.4 |
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Profit or Loss for
the Financial Year |
0.1 |
0.0 |
0.2 |
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Total Equity |
9.3 |
9.5 |
12.5 |
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Loans
and Other Liabilities |
1.6 |
1.8 |
2.4 |
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Total Amounts Owed
to Credit Institutions |
1.6 |
1.8 |
2.4 |
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Total Long Term Liabilities |
1.6 |
1.8 |
2.4 |
|
Loans
and Other Liabilities |
2.3 |
3.1 |
3.1 |
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Total Amounts Owed
to Credit Institutions |
2.3 |
3.1 |
3.1 |
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Amounts
Owed to Group Companies |
- |
0.6 |
- |
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Total Short-Term
Amounts Owed to Group and Associa |
- |
0.6 |
- |
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Amounts
Owed for Purchases of Goods or Services |
2.3 |
1.1 |
3.3 |
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Total Trade
Creditors |
2.3 |
1.1 |
3.3 |
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Public
Bodies |
0.1 |
0.1 |
0.3 |
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Miscellaneous
Debts |
- |
- |
0.0 |
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Wages
and Salaries Payable |
0.0 |
0.0 |
- |
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Total Other
Creditors |
0.2 |
0.1 |
0.3 |
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Total Short Term Creditors |
4.7 |
4.9 |
6.7 |
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Total Liabilities and Equity |
15.6 |
16.2 |
21.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.44 |
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UK Pound |
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.