MIRA INFORM REPORT
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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
JOMA SPORT SA
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Registered Office : |
Cl. Ramon Y Cajal, 112 – Bj, Portillo De Toledo, 45512 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Year of Establishments: |
1979 |
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Com. Reg. No.: |
A45015872 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Manufacture of footwear |
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No. of Employees : |
99 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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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) |
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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.
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Source : CIA |
Company name & address
Joma Sport Sa
Cl. Ramon Y Cajal, 112 - Bj
Portillo De Toledo, 45512
Spain
Tel: +(34) 925776006
Fax: +(34) 925730353
Web: www.jomasport.com
Synthesis
Employees: 99
Company Type: Public Independent
Incorporation Date: 1979
Auditor: Manuel Jordan Navarro
Financials in: USD
(Millions)
Fiscal Year End:
16-Nov-2011
Reporting Currency: Euro
Annual Sales: 76.5
1
Net Income: 1.0
Total Assets: 97.3
Business Description
Manufacture of footwear
Industry
Industry Footwear
ANZSIC 2006: 1352 - Footwear
Manufacturing
NACE 2002: 1930 - Manufacture
of footwear
NAICS 2002: 31621 - Footwear
Manufacturing
UK SIC 2003: 1930 - Manufacture
of footwear
UK SIC 2007: 1520 - Manufacture
of footwear
US SIC 1987: 314 - Footwear,
Except Rubber
Key Executives
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Name |
Title |
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Marina Arellano Conejo |
Member Of The Board, Joint Chief Executive Officer, Joint Attorney,
Secretary |
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Lopez Gonzalez Fructuoso |
Commercial Manager, Chief Buyer |
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Lopez Gonzalez Jose Manuel |
Director/General Manager |
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Marina Lopez Arellano |
Combined Chief Executive Officer, Joint Attorney, Joint Chief
Executive Officer, Member Of The Board |
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Angel Castañedo Miguel |
Production Manager |
Registered
No.(ESP): A45015872
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7189136
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7390983
Corporate Overview
Location
Cl. Ramon Y Cajal, 112 - Bj
Portillo De Toledo, 45512
Spain
Tel: +(34) 925776006
Fax: +(34) 925730353
Web: www.jomasport.com
Sales EUR(mil): 55.0
Assets EUR(mil): 71.9
Employees: 99
Fiscal Year End: 16-Nov-2011
Industry: Footwear
Incorporation Date: 1979
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(ESP): A45015872
Commercial
Manager, Chief Buyer:
Lopez Gonzalez Fructuoso
Industry Codes
ANZSIC 2006 Codes:
1352 - Footwear Manufacturing
NACE 2002 Codes:
1930 - Manufacture of footwear
NAICS 2002 Codes:
31621 - Footwear Manufacturing
US SIC 1987:
314 - Footwear, Except Rubber
UK SIC 2003:
1930 - Manufacture of footwear
UK SIC 2007:
1520 - Manufacture of footwear
Business
Description
Manufacture of footwear
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Executives Report
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Annual Profit & Loss
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Charges |
77.8 |
63.7 |
68.5 |
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Supplies |
29.4 |
27.8 |
20.5 |
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Goods
Consumption |
28.4 |
27.0 |
5.6 |
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Consumption
of Raw Materials |
0.8 |
0.6 |
- |
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Miscellaneous
External Expenditures |
0.2 |
0.3 |
14.9 |
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Staff Costs |
3.8 |
3.4 |
3.5 |
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Wages
and Salaries |
3.0 |
2.6 |
2.7 |
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Social
Security Costs |
0.8 |
0.8 |
0.8 |
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Depreciation |
0.4 |
0.6 |
0.3 |
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Allowance for
Trade Operations |
0.4 |
1.4 |
0.4 |
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Losses
from Unrecovered Receivables |
0.4 |
1.4 |
0.4 |
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Other Operating
Charges |
36.0 |
29.1 |
38.2 |
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External
Services |
33.8 |
27.1 |
36.4 |
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Taxes |
2.2 |
2.0 |
1.8 |
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Operating
Benefits |
7.1 |
1.5 |
6.2 |
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Financials and
Similar Charges |
0.9 |
2.2 |
2.7 |
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Due
to Liabilities With Group Companies |
- |
- |
2.6 |
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Due
to Other Liabilities |
1.4 |
1.6 |
0.1 |
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Losses
from Financial Investments |
-0.5 |
0.6 |
- |
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Changes in
Financial Investment Provisions |
2.0 |
-0.9 |
1.4 |
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Exchange Losses |
- |
- |
1.2 |
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Profit From
Ordinary Activities |
4.3 |
0.8 |
1.1 |
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Changes in
Provisions for Assets |
4.6 |
- |
- |
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Extraordinary
Profit |
- |
0.1 |
- |
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Profit Before
Taxes |
1.2 |
0.9 |
1.1 |
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Corporation Tax |
0.3 |
0.2 |
0.2 |
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Financial Year
Result (Profit) |
0.9 |
0.7 |
0.9 |
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Income |
78.7 |
64.4 |
69.3 |
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Net Total Sales |
72.8 |
57.9 |
66.8 |
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Sales |
76.5 |
60.8 |
70.3 |
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Sales
Refunds |
-3.7 |
-3.0 |
-3.4 |
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Increase in Stocks |
3.0 |
3.5 |
0.6 |
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Miscellaneous
Operating Income |
1.3 |
2.3 |
1.6 |
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Auxiliary
Income From Current Management |
1.2 |
2.2 |
1.2 |
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Grants |
0.1 |
0.1 |
0.4 |
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Income From
Miscellaneous Interests |
0.1 |
0.2 |
0.2 |
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Miscellaneous
Interests |
0.1 |
0.2 |
0.2 |
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Profit
on Financial Investment |
0.0 |
0.0 |
0.0 |
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Gains from
Exchange Rate |
0.0 |
0.5 |
- |
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Negative
Financial Results |
2.8 |
0.7 |
5.1 |
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Profit on Disposal
of Assets |
1.5 |
0.1 |
- |
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Negative
Extraordinary Results |
3.1 |
- |
- |
Annual Balance
Sheet
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Software |
- |
0.0 |
0.1 |
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Total Intangible
Fixed Assets |
- |
0.0 |
0.1 |
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Land
and Construction |
18.4 |
20.9 |
20.5 |
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Technical
Installations and Machinery |
0.1 |
0.1 |
0.2 |
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Other
Installations, Tools, and Furniture |
0.0 |
0.0 |
0.0 |
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Tangible
Fixed Assets Under Construction |
- |
0.0 |
0.0 |
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Other
Tangible Assets |
0.1 |
0.0 |
0.1 |
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Total Tangible
Fixed Assets |
18.6 |
21.1 |
20.8 |
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Long-Term
Securities Portfolio |
30.2 |
36.6 |
34.8 |
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Other
Receivables |
0.2 |
0.3 |
0.3 |
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Financial
Investments |
30.4 |
36.9 |
35.1 |
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Total Fixed Assets |
49.0 |
58.0 |
55.9 |
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Goods
in Process |
6.5 |
3.6 |
3.1 |
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Total Stocks |
6.5 |
3.6 |
3.1 |
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Trade
Debtors |
20.7 |
18.1 |
17.5 |
|
Other
Debtors |
2.9 |
5.5 |
0.9 |
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Public
Bodies |
0.3 |
0.2 |
0.3 |
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Total Debtors |
23.9 |
23.8 |
18.7 |
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Investments
in Group Companies |
0.2 |
0.2 |
0.2 |
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Receivables
from Group Companies |
12.1 |
10.3 |
9.6 |
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Other
Receivables |
2.9 |
1.6 |
0.4 |
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Total Short-Term
Investments |
15.2 |
12.1 |
10.1 |
|
Cash |
1.9 |
3.2 |
2.8 |
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Total Current Assets |
47.5 |
42.7 |
34.8 |
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Total Assets |
96.5 |
100.6 |
90.7 |
|
Legal
Reserve |
0.2 |
0.2 |
0.2 |
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Miscellaneous
Reserves |
29.6 |
31.4 |
29.6 |
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Total Reserves |
29.8 |
31.6 |
29.8 |
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Profit or Loss for
the Financial Year |
0.9 |
0.7 |
0.8 |
|
Total Equity |
31.7 |
33.3 |
31.6 |
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Capital
Grants |
- |
0.0 |
0.0 |
|
Total Deferred Income |
- |
0.0 |
0.0 |
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Loans
and Other Liabilities |
8.7 |
13.7 |
18.7 |
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Total Amounts Owed
to Credit Institutions |
8.7 |
13.7 |
18.7 |
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Other
Creditors |
- |
0.0 |
0.0 |
|
Long-Term
Payables to Public Bodies |
0.2 |
0.2 |
0.2 |
|
Total Other
Creditors |
0.2 |
0.2 |
0.3 |
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Total Long Term Liabilities |
8.9 |
13.9 |
18.9 |
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Loans
and Other Liabilities |
14.0 |
15.2 |
12.2 |
|
Short-Term
Liabilities from Capital Leases |
0.0 |
0.0 |
0.0 |
|
Total Amounts Owed
to Credit Institutions |
14.1 |
15.2 |
12.3 |
|
Amounts
Owed to Associated Companies |
0.5 |
0.6 |
0.6 |
|
Total Short-Term
Amounts Owed to Group and Associa |
0.5 |
0.6 |
0.6 |
|
Amounts
Owed for Purchases of Goods or Services |
39.8 |
35.8 |
27.1 |
|
Total Trade
Creditors |
39.8 |
35.8 |
27.1 |
|
Public
Bodies |
0.4 |
0.4 |
0.1 |
|
Miscellaneous
Debts |
0.2 |
0.3 |
0.2 |
|
Wages
and Salaries Payable |
0.0 |
0.0 |
0.0 |
|
Total Other
Creditors |
0.6 |
0.8 |
0.3 |
|
Total Short Term Creditors |
55.0 |
52.4 |
40.2 |
|
Short Term Provisions for Liabilities and
Charges |
1.0 |
1.0 |
- |
|
Total
Liabilities and Equity |
96.5 |
100.6 |
90.7 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
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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.