MIRA INFORM REPORT
|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
POLYONE ESPANA SL |
|
|
|
|
Registered Office : |
Polig Valle Del Cinca, Barbastro, 22300 |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1983 |
|
|
|
|
Com. Reg. No.: |
B22019723 |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
Manufacture of plastics in primary forms |
|
|
|
|
No. of Employees : |
136 |
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 : |
Reported as correct |
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
COMPANY NAME & ADDRESS
POLYONE ESPANA SL
Polig Valle Del Cinca
Barbastro, 22300
Spain
Tel: +(34) 974310314
Fax: +(34) 974314311
Website: www.polyone.com
SYNTHESIS
Employees: 136
Company Type: Private Subsidiary
Corporate Family: 6 Companies
Ultimate Parent: Polyone Espana Sl
Incorporation Date: 1983
Auditor: Ernst
Young Sl
Financials in: USD
(mil)
Fiscal Year End: 07-Sep-2012
Reporting Currency: Euro
Annual Sales: 128.1 1
Net Income: 7.2
Total Assets: 73.4
Business Description
Manufacture of plastics in primary forms
Industry
Industry Chemicals -
Plastics and Rubber
ANZSIC 2006: 1821 - Synthetic
Resin and Synthetic Rubber Manufacturing
NACE 2002: 2416 - Manufacture
of plastics in primary forms
NAICS 2002: 325211 - Plastics
Material and Resin Manufacturing
UK SIC 2003: 2416 - Manufacture
of plastics in primary forms
UK SIC 2007: 2016 - Manufacture
of plastics in primary forms
US SIC 1987: 2821 - Plastics
Materials, Synthetic Resins, and Nonvulcanizable Elastomers
Key Executives
|
||||||||||||
|
|
Registered
No.(ESP):B22019723
1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7682256
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7915698
Location
Polig Valle Del Cinca
Barbastro, 22300
Spain
Tel: +(34) 974310314
Fax: +(34) 974314311
Website: www.polyone.com
Sales EUR(mil): 98.4
Assets EUR(mil): 58.1
Employees: 136
Fiscal Year End: 07-Sep-2012
Industry: Chemicals
- Plastics and Rubber
Incorporation Date: 1983
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ESP): B22019723
Chief Executive Officer,
Member Of The Board: Bernad P. Baert
Business Description
Manufacture of plastics in primary forms
|
|
||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||
|
|
CORPORATE
FAMILY |
CORPORATE
STRUCTURE NEWS: |
|
|
|
|
Polyone Espana Sl |
|
|
|
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Polyone Espana Sl |
Parent |
|
|
|
|
|
|
Subsidiary |
Barbastro, Huesca |
Spain |
Chemicals - Plastics and Rubber |
128.1 |
136 |
|
|
Subsidiary |
Istanbul (Europe) |
Turkey |
Fabricated Plastic and Rubber |
24.4 |
67 |
|
|
Polyone Magyarorszag
Polimer Feldolgozo Korlatolt Felelossegu Tarsasag |
Subsidiary |
Gyor |
Hungary |
Chemical Manufacturing |
28.3 |
62 |
|
Subsidiary |
Kutno |
Poland |
Fabricated Plastic and Rubber |
12.4 |
46 |
|
|
Subsidiary |
Praha 8 |
Czech Republic |
Personal Services |
15.2 |
7 |
Executives Report
|
Board of
Directors |
|
|
|
|||
|
Vice Chairman |
Vice-Chairman |
|||
|
Member Of The Board |
Director/Board Member |
|||
|
Member Of The Board |
Director/Board Member |
|||
|
Joint Chief Executive Officer, Member Of The Board |
Director/Board Member |
|||
|
Member Of The Board, President |
Director/Board Member |
|||
|
Member Of The Board |
Director/Board Member |
|||
|
Chief Executive Officer, Member Of The Board |
Director/Board Member |
|
Executives |
|
|
|
|||
|
Joint Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
|||
|
Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
|||
|
Member Of The Board, President |
President |
|||
|
Secretary, Joint Attorney |
Administration Executive |
|||
|
Commercial Manager |
Commercial Executive |
|||
|
Joint Attorney |
Legal Executive |
|||
|
Joint Attorney |
Legal Executive |
|||
|
Joint Attorney |
Legal Executive |
|||
|
Joint Attorney |
Legal Executive |
Annual Profit & Loss
|
|
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 |
|
|
|
|
|
|
Charges |
129.7 |
128.9 |
109.0 |
|
Stock Reduction |
1.1 |
- |
- |
|
Supplies |
94.8 |
96.0 |
82.4 |
|
Consumption of Raw
Materials |
94.8 |
96.0 |
82.4 |
|
Staff Costs |
10.6 |
10.3 |
11.8 |
|
Wages and Salaries |
8.4 |
8.4 |
9.8 |
|
Social Security Costs |
2.2 |
2.0 |
2.0 |
|
Depreciation |
2.6 |
3.0 |
3.4 |
|
Allowance for Trade Operations |
-0.1 |
0.0 |
0.2 |
|
Losses from
Unrecovered Receivables |
-0.1 |
0.0 |
0.2 |
|
Other Operating Charges |
17.3 |
17.1 |
9.4 |
|
External Services |
17.2 |
17.1 |
9.4 |
|
Taxes |
0.1 |
0.1 |
0.1 |
|
Operating Benefits |
10.4 |
7.7 |
5.4 |
|
Financials and Similar Charges |
0.0 |
0.0 |
0.2 |
|
Due to Liabilities
With Group Companies |
- |
0.0 |
- |
|
Due to Other
Liabilities |
0.0 |
- |
0.2 |
|
Exchange Losses |
0.0 |
- |
0.0 |
|
Net Financial Income |
0.4 |
0.2 |
- |
|
Profit From Ordinary Activities |
10.9 |
7.9 |
5.3 |
|
Losses From Assets and Securities Portfolio |
- |
0.0 |
- |
|
Extraordinary Profit |
0.1 |
0.1 |
0.1 |
|
Profit Before Taxes |
11.0 |
8.1 |
5.4 |
|
Corporation Tax |
3.3 |
2.4 |
1.6 |
|
Financial Year Result (Profit) |
7.7 |
5.6 |
3.8 |
|
Income |
137.4 |
134.5 |
112.8 |
|
Net Total Sales |
136.8 |
133.4 |
108.2 |
|
Sales |
136.8 |
133.4 |
108.2 |
|
Increase in Stocks |
- |
0.8 |
4.4 |
|
Income From Miscellaneous Interests |
0.5 |
0.2 |
0.1 |
|
From Group Companies |
0.4 |
0.2 |
0.0 |
|
Miscellaneous
Interests |
0.0 |
0.0 |
0.0 |
|
Gains from Exchange Rate |
- |
0.0 |
- |
|
Negative Financial Results |
- |
- |
0.2 |
|
Profit on Disposal of Assets |
0.0 |
- |
- |
|
Capital Grants Transferred to Profit and Loss |
0.1 |
0.1 |
0.1 |
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 |
|
|
|
|
|
|
Goodwill |
13.4 |
13.8 |
14.8 |
|
Software |
- |
0.0 |
0.0 |
|
Total Intangible Fixed Assets |
13.4 |
13.8 |
14.8 |
|
Land and Construction |
5.3 |
5.6 |
6.2 |
|
Technical
Installations and Machinery |
8.1 |
5.7 |
8.2 |
|
Other Installations,
Tools, and Furniture |
0.1 |
0.1 |
0.2 |
|
Tangible Fixed Assets
Under Construction |
0.2 |
2.6 |
- |
|
Other Tangible Assets |
0.2 |
0.2 |
0.2 |
|
Total Tangible Fixed Assets |
14.0 |
14.1 |
14.9 |
|
Long-Term Guarantees
and Deposits |
0.0 |
0.0 |
0.0 |
|
Financial Investments |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
27.4 |
28.0 |
29.7 |
|
Raw Materials and
Other Consumables |
3.6 |
4.3 |
3.8 |
|
Finished Products |
3.4 |
4.7 |
4.5 |
|
Total Stocks |
7.1 |
9.0 |
8.3 |
|
Trade Debtors |
12.4 |
18.0 |
16.4 |
|
Receivables, Group
Companies |
5.8 |
4.3 |
3.4 |
|
Total Debtors |
18.2 |
22.4 |
19.8 |
|
Receivables from Group
Companies |
20.7 |
16.4 |
10.4 |
|
Total Short-Term Investments |
20.7 |
16.4 |
10.4 |
|
Cash |
2.0 |
2.2 |
2.2 |
|
Prepayments and Accrued Income |
0.1 |
0.1 |
0.0 |
|
Total Current Assets |
48.0 |
50.1 |
40.7 |
|
Total Assets |
75.4 |
78.1 |
70.4 |
|
Revaluation Reserves |
1.8 |
1.6 |
1.6 |
|
Legal Reserve |
1.2 |
1.2 |
1.3 |
|
Miscellaneous Reserves |
40.4 |
36.3 |
35.1 |
|
Total Reserves |
41.6 |
37.5 |
36.4 |
|
Profit or Loss for the Financial Year |
7.2 |
5.7 |
3.9 |
|
Total Equity |
56.4 |
50.9 |
48.4 |
|
Capital Grants |
0.1 |
0.2 |
0.2 |
|
Total Deferred Income |
0.1 |
0.2 |
0.2 |
|
Long-Term Payables to
Public Bodies |
0.6 |
0.4 |
0.3 |
|
Total Other Creditors |
0.6 |
0.4 |
0.3 |
|
Total Long Term Liabilities |
0.6 |
0.4 |
0.3 |
|
Amounts Owed to Group
Companies |
6.7 |
8.0 |
3.3 |
|
Total Short-Term Amounts Owed to Group and
Associa |
6.7 |
8.0 |
3.3 |
|
Amounts Owed for
Purchases of Goods or Services |
10.1 |
16.6 |
16.3 |
|
Total Trade Creditors |
10.1 |
16.6 |
16.3 |
|
Public Bodies |
0.4 |
0.3 |
0.4 |
|
Wages and Salaries
Payable |
1.2 |
1.8 |
1.6 |
|
Total Other Creditors |
1.5 |
2.1 |
2.0 |
|
Total Short Term Creditors |
18.4 |
26.7 |
21.5 |
|
Total Liabilities and Equity |
75.4 |
78.1 |
70.4 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
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 |
|
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.