MIRA
INFORM REPORT
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Report Date : |
21.11.2013 |
IDENTIFICATION DETAILS
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Name : |
HASTINIK SA |
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Registered Office : |
C/ Solsona, 3 Polig Ind. La Florida, Santa Perpetua De Mogoda, 08130 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
A08457335 |
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Legal Form : |
Public Independent |
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Line of Business : |
Wholesale of metals and metal ores |
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No. of Employees : |
45 |
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 : |
Slow but correct |
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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 – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
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 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4% in 2012. The economy has once again fallen into recession as deleveraging in the private sector, fiscal consolidation, and continued high unemployment weigh on domestic demand and investment, even as exports have shown signs of resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic downturn has also hurt Spain's public finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has been slow despite the central government's efforts to raise new tax revenue and cut spending. Spain reduced its budget deficit to 9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target negotiated between Spain and the EU. Although Spain''s large budget deficit and poor economic growth prospects remain a source of concern for foreign investors, the government''s ongoing efforts to cut spending and introduce flexibility into the labor markets are intended to assuage these concerns. The government is also taking steps to shore up the banking system, namely by using up to $130 billion in EU funds to recapitalize struggling banks exposed to the collapsed domestic construction and real estate sectors.
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Source : CIA |
Company name & address
HASTINIK SA
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Business Description
Wholesale of metals and metal ores
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
423520 -
Coal and Other Mineral and Ore Merchant Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Eduardo Cepeda Murciego |
Joint Manager |
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Carlos Girones Teixidor |
Joint Manager |
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Cepeda Murciego Eduardo |
Administrator |
Registered No.(ESP): A08457335
1 - Profit & Loss Item Exchange Rate: USD
1 = EUR 0.7655126
2 - Balance Sheet Item Exchange Rate: USD 1 =
EUR 0.7480003
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ANZSIC 2006 Codes: |
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3322 |
- |
Metal and Mineral Wholesaling |
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ISIC Rev 4 Codes: |
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4662 |
- |
Wholesale of metals and metal ores |
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NACE Rev 2 Codes: |
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4672 |
- |
Wholesale of metals and metal ores |
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NAICS 2012 Codes: |
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423520 |
- |
Coal and Other Mineral and Ore Merchant Wholesalers |
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US SIC 1987: |
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505 |
- |
Metals and Minerals, Except Petroleum |
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UK SIC 2007: |
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4672 |
- |
Wholesale of metals and metal ores |
Wholesale of metals and metal ores
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Location |
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Tel: |
+(34) 972338950 |
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Executives
Report
Executives
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Joint Manager |
Administration Executive |
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Administrator |
Administration Executive |
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Joint Manager |
Administration Executive |
Annual Profit
& Loss
|
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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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) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Charges |
36.8 |
40.9 |
37.4 |
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Supplies |
28.8 |
32.1 |
28.5 |
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Goods Consumption |
28.1 |
31.4 |
27.5 |
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Consumption of Raw Materials |
0.0 |
0.0 |
0.0 |
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Miscellaneous External
Expenditures |
0.6 |
0.7 |
1.0 |
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Staff Costs |
2.9 |
3.2 |
2.8 |
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Wages and Salaries |
2.4 |
2.7 |
2.3 |
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Social Security Costs |
0.5 |
0.6 |
0.5 |
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Depreciation |
0.2 |
0.5 |
0.6 |
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Allowance for Trade Operations |
0.1 |
0.1 |
0.7 |
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Stock Provision
Variation |
0.0 |
0.0 |
0.7 |
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Variation of Other
Trade Provisions |
0.1 |
0.1 |
0.1 |
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Other Operating Charges |
4.2 |
4.0 |
4.0 |
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External Services |
4.0 |
3.9 |
3.8 |
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Taxes |
0.2 |
0.1 |
0.1 |
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Operating Benefits |
1.2 |
2.4 |
2.0 |
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Financials and Similar Charges |
0.2 |
0.1 |
0.1 |
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Due to Liabilities
With Group Companies |
0.2 |
0.0 |
0.0 |
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Due to Other
Liabilities |
0.1 |
0.0 |
0.0 |
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Exchange Losses |
0.0 |
0.0 |
- |
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Net Financial Income |
0.0 |
0.3 |
0.1 |
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Profit From Ordinary Activities |
1.3 |
2.7 |
2.1 |
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Losses From Assets and Securities Portfolio |
- |
- |
0.0 |
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Extraordinary Profit |
0.0 |
0.0 |
0.1 |
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Profit Before Taxes |
1.3 |
2.7 |
2.2 |
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Corporation Tax |
0.4 |
0.8 |
0.7 |
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Financial Year Result (Profit) |
0.9 |
1.9 |
1.6 |
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Income |
37.7 |
42.7 |
38.9 |
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Net Total Sales |
36.6 |
41.6 |
38.0 |
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Sales |
36.6 |
41.6 |
38.0 |
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Miscellaneous Operating Income |
0.8 |
0.8 |
0.7 |
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Auxiliary Income From
Current Management |
0.8 |
0.8 |
0.7 |
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Income From Miscellaneous Interests |
0.3 |
0.3 |
0.2 |
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From Group Companies |
0.1 |
0.3 |
- |
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Miscellaneous
Interests |
0.2 |
0.1 |
0.2 |
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Gains from Exchange Rate |
- |
- |
0.0 |
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Profit on Disposal of Assets |
- |
0.0 |
- |
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Extraordinary Income |
0.0 |
0.0 |
0.1 |
Annual
Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Shareholders By Uncalled Subscribed Capital |
- |
- |
0.0 |
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Land and Construction |
14.5 |
14.4 |
15.1 |
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Technical
Installations and Machinery |
0.7 |
0.3 |
0.4 |
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Other Installations,
Tools, and Furniture |
0.4 |
0.2 |
0.2 |
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Other Tangible Assets |
0.1 |
0.0 |
0.0 |
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Total Tangible Fixed Assets |
15.6 |
14.9 |
15.7 |
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Receivables from Group
Companies |
5.1 |
3.9 |
0.2 |
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Long-Term Securities
Portfolio |
0.0 |
- |
- |
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Long-Term Guarantees
and Deposits |
0.0 |
0.1 |
0.1 |
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Financial Investments |
5.1 |
4.0 |
0.2 |
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Total Fixed Assets |
20.8 |
18.9 |
16.0 |
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Goods for Resale |
9.6 |
8.7 |
9.8 |
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Total Stocks |
9.6 |
8.7 |
9.8 |
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Trade Debtors |
9.1 |
10.1 |
12.2 |
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Receivables, Group
Companies |
0.2 |
0.2 |
0.0 |
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Staff |
0.0 |
0.0 |
0.0 |
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Public Bodies |
0.0 |
0.0 |
0.0 |
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Total Debtors |
9.3 |
10.3 |
12.3 |
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Receivables from Group
Companies |
0.0 |
- |
0.0 |
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Short-Term Securities
Portfolio |
2.6 |
0.0 |
0.5 |
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Other Receivables |
- |
0.0 |
- |
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Short-Term Guarantees
and Deposits |
3.4 |
6.9 |
9.5 |
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Total Short-Term Investments |
6.1 |
6.9 |
10.0 |
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Cash |
1.2 |
2.2 |
1.9 |
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Total Current Assets |
26.3 |
28.0 |
34.1 |
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Total Assets |
47.0 |
46.9 |
50.1 |
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Legal Reserve |
0.0 |
0.0 |
0.0 |
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Miscellaneous Reserves |
33.3 |
31.9 |
32.4 |
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Total Reserves |
33.3 |
31.9 |
32.4 |
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Profit or Loss for the Financial Year |
0.9 |
1.8 |
1.6 |
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Total Equity |
34.7 |
33.8 |
34.1 |
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Long-Term Liabilities
from Capital Leases |
0.1 |
0.1 |
0.2 |
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Total Amounts Owed to Credit Institutions |
0.1 |
0.1 |
0.2 |
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Amounts Owed to Group
Companies |
6.0 |
5.9 |
3.1 |
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Total Debts with Group or Affiliated Companies |
6.0 |
5.9 |
3.1 |
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Other Creditors |
- |
- |
3.0 |
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Long-Term Payables to
Public Bodies |
0.1 |
0.1 |
0.2 |
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Total Other Creditors |
0.1 |
0.1 |
3.2 |
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Total Long Term Liabilities |
6.2 |
6.1 |
6.4 |
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Loans and Other
Liabilities |
0.9 |
1.1 |
0.9 |
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Short-Term Liabilities
from Capital Leases |
0.1 |
0.1 |
0.2 |
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Total Amounts Owed to Credit Institutions |
1.0 |
1.1 |
1.1 |
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Amounts Owed to Group
Companies |
1.3 |
0.2 |
0.1 |
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Total Short-Term Amounts Owed to Group and
Associa |
1.3 |
0.2 |
0.1 |
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Advanced Payments from
Customers |
- |
- |
0.0 |
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Amounts Owed for
Purchases of Goods or Services |
3.1 |
4.9 |
7.6 |
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Total Trade Creditors |
3.1 |
4.9 |
7.6 |
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Public Bodies |
0.5 |
0.6 |
0.6 |
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Wages and Salaries
Payable |
0.2 |
0.2 |
0.2 |
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Total Other Creditors |
0.7 |
0.8 |
0.8 |
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Total Short Term Creditors |
6.1 |
7.0 |
9.6 |
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Total Liabilities and Equity |
47.0 |
46.9 |
50.1 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.56 |
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|
1 |
Rs.100.77 |
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Euro |
1 |
Rs.84.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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.