|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANDRADE &
AMARO-MALHAS E CONFECCOES LDA |
|
|
|
|
Registered Office : |
Rua Das Termas,
154 Areias Sts 4780-068-Areias Sts Santo Tirso Porto |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
20.04.1995 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Tecelagem |
|
|
|
|
No. of Employees : |
17 |
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 : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Exist |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Portugal |
A2 |
A2 |
|
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 past two decades, successive governments have 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 had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in 2010. But GDP fell again in 2011, as the government implemented austerity measures, including a 5% public salary cut, a 2% increase in the value-added tax, and an extraordinary tax on yearend bonuses 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. A rigid labor market has been an obstacle to greater productivity and growth. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a destination for foreign direct investment. Portugal's low competitiveness, low growth prospects, and high levels of public debt have made it vulnerable to bond market turbulence. 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. Investors, however, continue to express concern about the government's ability to achieve future budget deficit targets and obtain foreign financing to cover its sovereign debt obligations when the EU-IMF financing program expires in 2013. Without the option for stimulus measures, the government is focusing instead on boosting exports and implementing labor market and other structural reforms to try to raise GDP growth and increase Portugal's competitiveness - which, over time, may help mitigate investor concerns.
Source
: CIA
|
Name |
ANDRADE &
AMARO-MALHAS E CONFECCOES LDA |
|
V.A.T. Number /
NIF |
503405949 |
|
Address |
Rua das Termas,
154 |
|
Locality |
Areias Sts |
|
Postal Code |
4780-068-AREIAS
STS |
|
Municipality |
SANTO TIRSO |
|
District |
PORTO |
|
Telephone |
252866229 |
|
Fax |
252862819 |
|
E-Mail |
andradeamaro@iol.pt |
|
|
|
|
C.A.E.(Rev 3) |
13910- Manufacture
of knitted fabrics |
|
|
|
All the amounts are express in Euros, otherwise you will be advised |
|
ALEXANDRE EDGAR
LOPES ANDRADE AMARO |
Managing-Partner
|
|
PAULA MARIA
LOPES DE ANDRADE AMARO |
Managing-Partner
|
|
Registed on the
Register Record Office of Santo Tirso with the Register Number 503405949
previous number 3205 in 20-04-1995 |
|
Constitution
celebrated in 20-04-1995 published on Diário da República number 200 of
30-08-1995 |
|
To oblige the company
it is necessary 1 signatures |
|
Changes to
Society |
|
In 06-02-2004
on Diário da República number 72 of 25-03-2004 increase of capital Clique para ver detalhes
|
|
|
In 27-12-2001 on
Diário da República number 204 of 04-09-2002 head office change |
|
The Capital is
250.000,00 |
|
|
with the
following distribution |
|
ALEXANDRE EDGAR
LOPES ANDRADE AMARO |
125.000,00 |
50% |
|
PAULA MARIA
LOPES DE ANDRADE AMARO |
125.000,00 |
50% |
|
|
|
|
Name |
ALEXANDRE EDGAR
LOPES ANDRADE AMARO |
|
Funtion |
Managing-Partner
|
|
|
|
|
Name |
PAULA MARIA
LOPES DE ANDRADE AMARO |
|
Funtion |
Managing-Partner
|
|
Line of
Business |
Percentage |
|
Tecelagem |
100% |
|
Type of Clients
|
Private
Companies |
|
|
|
Sales
Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
100% |
|
|
|
Imports from |
PAQUISTÃO,INDIA,TURQUIA |
|
|
|
BANCO SANTANDER
TOTTA SA |
Santo Tirso |
|
MILLENNIUM BCP |
Santo Tirso |
|
CAIXA ECONOMICA
MONTEPIO GERAL |
Santo Tirso |
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial
District |
Court |
Situation |
|
15-12-2010 |
4014/10.4TBBCL |
Massa Insolvente Cifercil – Malhas e Confecções, Lda. |
Ordinária |
70.115,40 |
Barcelos - Tribunal
Judicial |
|
|
|
27-05-2009 |
115296/09.8YIPRT
|
Massa Insolvente da Empresa Malhas Cilorde, Lda |
Especial
Cump.Obrig. Pecuniarias DL 269/98 |
6.857,37 |
Barcelos |
3 |
|
|
Total |
17 |
|
Mapfre Seguros
Generales |
|
Head office,
warehouse and factory Rua das Termas, 154, Areias Sts , 4780-068, AREIAS STS
, Tel:252866229, Fax:252862819 |
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2011 |
|
|
||
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variação (%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current
assets |
|
|||
|
Tangible fixed
assets |
596.855,24 |
575.128,84 |
494.641,56 |
3,78 |
|
Other financial
assets |
21.160,00 |
|
|
|
|
Total |
618.015,24 |
575.128,84 |
494.641,56 |
7,46 |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
786.700,80 |
988.083,21 |
571.052,02 |
(20,38) |
|
Costumers |
2.346.838,18 |
2.583.718,82 |
1.473.495,32 |
(9,17) |
|
State and other
public entities |
536,35 |
7.106,87 |
1.606,02 |
(92,45) |
|
Other accounts
receivable |
8.078,79 |
20.490,64 |
14.742,66 |
(60,57) |
|
Deferrals |
19.550,84 |
22.287,26 |
17.291,15 |
(12,28) |
|
Other financial
assets |
81,50 |
81,50 |
|
|
|
Cashier and
bank deposits |
157.345,88 |
116.392,44 |
37.902,47 |
35,19 |
|
Total |
3.319.132,34 |
3.738.160,74 |
2.116.089,64 |
(11,21) |
|
TOTAL ASSET |
3.937.147,58 |
4.313.289,58 |
2.610.731,20 |
(8,72) |
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS |
|
|
||
|
Capital |
250.000,00 |
250.000,00 |
250.000,00 |
|
|
Other
shareholders funds instruments |
299.519,16 |
299.519,16 |
299.519,16 |
|
|
Legal reserves |
50.000,00 |
50.000,00 |
50.000,00 |
|
|
Other reserves |
253.470,03 |
249.797,87 |
208.172,23 |
1,47 |
|
Total |
852.989,19 |
849.317,03 |
807.691,39 |
0,43 |
|
Net income for
the period |
64.642,36 |
3.672,16 |
47.625,64 |
1.660,34 |
|
TOTAL OF
SHAREHOLDERS FUNDS |
917.631,55 |
852.989,19 |
855.317,03 |
7,58 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current
liiabilities |
|
|
||
|
Financing
obtained |
164.569,45 |
223.492,24 |
203.453,66 |
(26,36) |
|
Total |
164.569,45 |
223.492,24 |
203.453,66 |
(26,36) |
|
|
|
|
|
|
|
Current liabilities
|
|
|
||
|
Suppliers |
1.271.927,07 |
2.060.888,77 |
959.723,16 |
(38,28) |
|
State and other
public entities |
51.331,49 |
20.058,98 |
31.674,77 |
155,90 |
|
Financing
obtained |
1.245.793,10 |
950.512,42 |
470.926,89 |
31,07 |
|
Other payable
accounts |
275.402,91 |
205.347,98 |
89.635,69 |
34,12 |
|
Deferrals |
10.492,01 |
|
|
|
|
Total |
2.854.946,58 |
3.236.808,15 |
1.551.960,51 |
(11,80) |
|
TOTAL
LIABILITIES |
3.019.516,03 |
3.460.300,39 |
1.755.414,17 |
(12,74) |
|
TOTAL SHAREHOLDERS
FUNDS AND LIABILITIES |
3.937.147,58 |
4.313.289,58 |
2.610.731,20 |
(8,72) |
|
|
|
|
|
|
|
INCOME
STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND
EXPENSES |
|
|
||
|
Sales and
services |
4.869.786,84 |
4.207.815,81 |
3.034.633,19 |
15,73 |
|
Variation in
production inventories |
24.622,58 |
20.417,19 |
18.920,18 |
20,60 |
|
Cost of goods
sold and materials consumed |
3.794.415,44 |
3.083.427,37 |
2.205.707,90 |
23,06 |
|
Suppliers and
external services |
437.220,34 |
467.966,73 |
361.274,68 |
(6,57) |
|
Personnel costs
|
232.850,72 |
240.671,21 |
259.882,98 |
(3,25) |
|
Impairment of
receivables (losses/revearsals) |
87.429,87 |
141.379,24 |
(42.754,50) |
(38,16) |
|
Other income
and gains |
37.474,12 |
18.960,70 |
62.632,24 |
97,64 |
|
Other expenses
and losses |
22.978,88 |
25.422,31 |
10.653,82 |
(9,61) |
|
Result before
depreciation, financing costs and taxes |
356.988,29 |
288.326,84 |
321.420,73 |
23,81 |
|
Expenses/reversals
of depreciation and amortization |
173.094,36 |
211.225,31 |
195.112,53 |
(18,05) |
|
Operating
result (before financing costs and taxes) |
183.893,93 |
77.101,53 |
126.308,20 |
138,51 |
|
Interest and
similar income obtained |
5,62 |
2,84 |
149,29 |
97,89 |
|
interest and
similar expenses incurred |
85.178,86 |
60.323,19 |
54.369,15 |
41,20 |
|
Net before
taxes |
98.720,69 |
16.781,18 |
72.088,34 |
488,28 |
|
Income tax of
the period |
34.078,33 |
13.109,02 |
24.462,70 |
159,96 |
|
Net profit for
the period |
64.642,36 |
3.672,16 |
47.625,64 |
1.660,34 |
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS
|
|
|||
|
Shareholder's
Funds Profitability |
0,07 |
0,004 |
0,056 |
|
|
Assets
Profitability |
0,047 |
0,018 |
0,048 |
|
|
Sales Net Profitability
|
0,013 |
0,001 |
0,016 |
|
|
|
|
|
|
|
|
EFFICIENCY
RATIOS |
|
|
||
|
Medium Term
Receivable |
175,9 |
224,12 |
177,229 |
|
|
Asset Rotation |
1,237 |
0,976 |
1,162 |
|
|
|
|
|
|
|
|
PRODUCTIVITY
RATIOS |
|
|
||
|
Productivity |
4,618 |
4,672 |
3,19 |
|
|
|
|
|
|
|
|
SHORT TERM
RATIOS |
|
|
||
|
General
Liquidity |
1,163 |
1,155 |
1,363 |
|
|
Reduced
Liquidity |
0,887 |
0,85 |
0,996 |
|
|
Immediate
Liquidity |
0,055 |
0,036 |
0,024 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM
RATIOS |
|
|
||
|
Financial
Autonomy |
0,233 |
0,198 |
0,328 |
|
|
Solvability |
0,304 |
0,247 |
0,487 |
|
|
Borrowed
Capital Structure |
0,945 |
0,935 |
0,884 |
|
|
General Debt |
1,537 |
1,376 |
0,788 |
|
|
Medium Long
Term Debt |
0,179 |
0,262 |
0,238 |
|
|
Debt Structure |
0,945 |
0,935 |
0,884 |
|
|
Capital
Structure |
5,576 |
3,817 |
4,204 |
|
|
|
|
|
|
|
|
Operational and
Financial Risk |
|
|
||
|
Operational
Leverage Level |
5,848 |
14,583 |
6,563 |
|
|
Financial
Leverage Level |
1,863 |
4,595 |
1,752 |
|
|
Combined
Leverage Level |
10,895 |
67,009 |
11,498 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
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.