MIRA
INFORM REPORT
|
Report Date : |
22.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
VASCONCELOS & GONCALVES SA |
|
|
|
|
Registered Office : |
Rua da Cintura do Porto, prédio B, 1º A/B, 1950-326-Lisboa |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.05.1981 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
·
Retail sale of clothing for adults in
specialized ·
Trade
in ready to wear and design activities. |
|
|
|
|
No. of Employees : |
35 |
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 : |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Portugal |
B1 |
B1 |
|
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 following two decades, successive governments 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 grew by more than the EU average for much of the 1990s, but the rate of growth slowed in 2001-08. The economy contracted 2.5% in 2009, before growing 1.4% in 2010, but GDP fell again in 2011 and 2012, as the government began implementing spending cuts and tax increases 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. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a destination for foreign direct investment, in part because its rigid labor market hindered greater productivity and growth. However, the government of Pedro PASSOS COELHO has enacted several measures to introduce more flexibility into the labor market, and, this, along with steps to reduce high levels of public debt, could make Portugal more attractive to foreign investors. 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. The budget deficit worsened in 2012 as a sharp reduction in domestic consumption took a bigger bite out of value-added tax revenues while rising unemployment benefits increased expenditures more than anticipated. Poor growth prospects over the next year have reinforced investors' concerns about the government's ability to achieve its budget deficit targets and regain full access to bond market financing when the EU-IMF financing program expires in 2013.
|
Source
: CIA |
Identification
|
Name |
VASCONCELOS & GONCALVES SA |
|
IIC Number |
898941 |
|
V.A.T. Number / NIF |
501243445 |
|
Address |
Rua da Cintura do Porto, prédio B, 1º A/B |
|
Locality |
Lisboa |
|
Postal Code |
1950-326-LISBOA |
|
Municipality |
LISBOA |
|
District |
LISBOA |
|
Telephone |
218685420 |
|
Fax |
218685554 |
|
E-Mail |
correio@giovannigalli.com.pt |
|
Web Site |
www.giovannigalli.com.pt |
|
|
|
|
C.A.E.(Rev 3) |
47711- Retail sale of clothing for adults in specialized |
|
Actual Condition In activity |
|
Payments |
|
Incidents |
Summary
|
Legal Form |
Joint Stock Company |
|
Constitution |
14-05-1981 |
|
V.A.T. Number / NIF
|
501243445 |
|
Employees |
35 |
|
Capital |
125.000,00 |
|
Sales in :
31-12-2012 |
21.206.457,53 |
|
Shareholders Funds
in: 31-12-2012 |
8.026.104,58 |
|
Credit Risk Level |
Low Credit Risk |
|
Credit Limit |
249.399,00 |
|
Payments |
Good |
|
Actual Condition |
In activity |
Financial Highlights
|
|
31-12-2010 |
31-12-2011 |
31-12-2012 |
|
Net Sales |
24.262.419,72 |
22.441.094,40 |
21.206.457,53 |
|
Net Income For the Year |
2.049.072,42 |
1.010.685,36 |
214.813,73 |
|
Shareholders Funds |
12.383.370,11 |
7.814.805,47 |
8.026.104,58 |
|
Stocks |
4.191.139,23 |
4.954.257,43 |
6.285.053,13 |
|
LIABILITY |
4.883.744,51 |
3.875.508,80 |
4.165.506,04 |
|
ASSETS |
17.267.114,62 |
11.690.314,27 |
12.191.610,62 |
Business Concept
Consulted sources say that the subject has been respecting its
payments and commercial commitments, so credit connections with this company
are recommended.
All the amounts are
express in Euros, otherwise you will be advised
Governing Bodies
|
Board of Director's
|
|
|
JOSE DE JESUS FETAL CAIXEIRO |
Administrator |
|
ANTONIO LUIS DAS NEVES ROSA |
Administrator |
|
|
|
|
Fiscal Board |
|
|
FERNANDO MARQUES DE OLIVEIRA |
Fiscal Board Substitute |
|
OLIVEIRA,REIS & ASSOCIADOS-SROC LDA |
Unique Fiscal |
Legal Structure
|
Registed on the Register Record Office of Lisboa in 3ª. Secção with
the Register Number 501243445 previous number 56854 in 08-04-1982 |
|
Constitution celebrated in 14-05-1981 published on Diário da República
of 02-09-1981 |
|
To oblige the company it is necessary 2 signature |
Changes to Society
|
In 27-07-2012 on Portal MJ of 13-08-2012 board of director's change |
|
In 23-03-2012 on Portal MJ of 26-03-2012 business change |
|
In 26-09-2011 on Portal MJ of 29-09-2011 head office change |
|
In 17-06-2009 on Portal MJ of 19-05-2010 change in to a joint stock
company |
|
In 20-12-2006 on Portal MJ of 27-12-2006 merge |
Capital
The Capital is 125.000,00
, divided in 1250 shares , with a nominal value of 100,00
with the following
shareholders
|
UNIFATO-INVESTIMENTOS E PARTICIPACOES,SGPS SA |
87.500,00 |
70% |
|
ISABEL MARIA FERNANDES DE VASCONCELOS SEQUEIRA GONCALVES |
37.500,00 |
30% |
Shareholders / Partners Companies
|
IIC Number |
788085 |
|
NAME |
UNIFATO-INVESTIMENTOS E PARTICIPACOES,SGPS SA |
|
Funtion |
Shareholder |
|
Address |
Estrada da Batalha Nr. 21 |
|
Locality |
Reguengo Do Fetal |
|
C.A.E. |
64202-Actividades das sociedades gestoras de participações sociais não
financeiras |
Activities
|
Line of Business |
Percentage |
|
Trade in ready to wear and design activities. |
100% |
|
Type of Clients |
Public |
|
Sales Conditions
|
Cash |
|
Sales Area |
|
|
Country |
100% |
|
Trade Marks |
|
Giovanni Galli |
Banks and Financial Institutions
|
BANCO ESPIRITO SANTO, SA |
Leiria |
|
CAIXA GERAL DE DEPOSITOS, SA |
Batalha |
Incidents
Legal
Actions
|
Date |
Process |
Author |
Type |
Amount |
Judicial
District |
Court |
Situation |
|
|
30/13.2TTCBR |
|
Acção de Processo Comum |
10.206,44 |
Coimbra - Tribunal do Trabalho |
|
|
07-01-2013
Leandro Xavier Melo Lopes
Employees
|
Total |
35 |
|
|
|
|
|
|
Insurance
|
Companhia de Seguros Açoreana SA |
|
Companhia de Seguros Açoreana SA |
Head Office and Installations
|
Had installations Rua Cintura do Porto, 1º C - Prédio B, Lisboa, 1000,
LISBOA |
|
Shop Centro Comercial Dolce Vita, loja 117, Vila Real, 5000, VILA REAL,
Tel:259328242 |
|
Shop Centro Comercial Parque, loja 132, Braga, 4700, BRAGA,
Tel:253251344 |
|
Shop Mar Shopping, loja 1.88, Matosinhos, 4450, MATOSINHOS,
Tel:229957139 |
|
Shop Centro Comercial Fórum Barreiro, loja 1.07, Barreiro, 2830,
BARREIR0 |
|
Shop Catarina Shopping, loja 3.18/3.19, Porto, PORTO, Tel:222037734 |
|
Shop Centro Comercial Gaia Shopping, loja 140, Vila Nova De Gaia,
4400, VILA NOVA DE GAIA, Tel:223744352 |
|
Shop Centro Comercial Parque Nascente, loja 442/443, Gondomar, 4420,
GONDOMAR, Tel:224862477 |
|
Shop Fórum Viseu, loja 2.27, Viseu, VISEU, Tel:232468497 |
|
Shop Rua Ferreira Borges, 2 a 6, Coimbra, 3000, COIMBRA, Tel:239837900 |
|
Shop Centro Comercial Foz Plaza, loja 213, Figueira Da Foz, 3080,
FIGUEIRA DA FOZ, Tel:233432800 |
|
Shop Avenida Heróis de Angola, 97, Leiria, 2400, LEIRIA, Tel:244838013 |
|
Shop Rua Almirante Cândido dos Reis, 106, Caldas Da Rainha, 2500,
CALDAS DA RAINHA, Tel:262833987 |
|
Shop Rua Guilherme de azevedo, 12/14, Santarem, 2000, SANTAREM,
Tel:243322553 |
|
Head office and office Rua da Cintura do Porto, prédio B, 1º A/B ,
Lisboa, 1950-326, LISBOA, Tel:218685420 |
|
Shop Centro Comercial Loureshopping, loja 1044, Loures, 2670, LOURES,
Tel:219836128 |
|
Shop Rua 9 de abril, 9, Torres Vedras, 2560, TORRES VEDRAS,
Tel:261322779 |
|
Shop Rua Serpa Pinto, 16, Setubal, 2900, SETUBAL, Tel:265523624 |
|
Shop Shopping Center Modelo, loja 1079, Portimao, 8500, PORTIMAO,
Tel:282419487 |
|
Shop Centro Comercial Algarveshopping, loja 1103, Albufeira, 8200, ALBUFEIRA,
Tel:289100103 |
|
Shop Fórum Montijo - Loja 073, Montijo, 2870, MONTIJO, Tel:212309775 |
|
Shop Avenida da Igreja, 20 A, Lisboa, 1700-237, LISBOA, Tel:218472919 |
|
Shop Fórum Sintra - Loja 1.32, Sintra, 2705, SINTRA, Tel:219184016 |
|
Shop Centro Comercial Estação Viana, 1001, Viana Do Castelo, 4900,
VIANA DO CASTELO, Tel:258817411 |
|
Shop Centro Comercial Portela de Sacavém, loja 23, 1º, Sacavem, 2685,
SACAVEM, Tel:219435944 |
|
Shop Centro Comercial Dolce Vita Tejo, loja 1173, Pontinha, 1600,
LISBOA, Tel:214782563 |
|
Shop Rua Elias Garcia, 366-B, Amadora, 2610-000, AMADORA,
Tel:214937788 |
|
Shop Centro Comercial Alegro, loja 114, Alfragide, 2610, AMADORA,
Tel:214174322 |
|
Shop Rua Frederico Arouca, 50 - Cascaishopping, Cascais, CASCAIS,
Tel:214832718 |
|
Shop Centro Comercial Almada Fórum, loja 1.68, Almada, 2800, ALMADA,
Tel:212508015 |
|
Shop Centro Comercial Rio Sul Shopping, loja 1009 A/B, Seixal, 2840,
SEIXAL, Tel:212271339 |
|
Shop Centro Comercial Parque Atlântico, 0.031A, Ponta Delgada, 9500,
PONTA DELGADA, Tel:296281502 |
|
Shop Rua São Francisco, 20, Arcadas de São Francisco, loja 10,
Funchal, 9000, FUNCHAL, Tel:291238794 |
Special Information
|
Event |
General
Description |
|
Merge |
A 20 de Dezembro de 2006, fusão por incorporação mediante a
transferência global do património das firmas Casa Russel-Pronto a Vestir
Ferragens e Ferramentas Lda, Clivagem-Artigos de Vestuário e Acessórios Lda,
Prudêncio & Pereira Lda, Camisaria Sadina Lda, Camisaria Colombo Lda,
Modas Ramiro de Ramiro & Fernandes Lda e da Silva & Melancia Lda, na
titular. |
Financial Demonstration SNC
Balance Sheet SNC
CoinEURO Date31-12-2012
|
|
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
Variação
(%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current assets |
|
|||
|
Tangible fixed assets |
604.869,94 |
705.120,51 |
831.046,05 |
(14,22) |
|
Intangible assets |
12.089,50 |
66,34 |
132,67 |
18.123,55 |
|
Shareholders/partners |
2.600.000,00 |
2.600.000,00 |
|
|
|
Deferred tax assets |
1.871,26 |
2.806,90 |
3.742,54 |
(33,33) |
|
Total |
3.218.830,70 |
3.307.993,75 |
834.921,26 |
(2,70) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
6.285.053,13 |
4.954.257,43 |
4.191.139,23 |
26,86 |
|
Costumers |
717.963,58 |
399.197,85 |
135.371,58 |
79,85 |
|
State and other public entities |
127.000,41 |
467.810,65 |
796.411,27 |
(72,85) |
|
Other accounts receivable |
89.610,44 |
66.011,27 |
395.911,52 |
35,75 |
|
Deferrals |
712.237,54 |
771.172,65 |
599.299,74 |
(7,64) |
|
Cashier and bank deposits |
1.040.914,82 |
1.723.870,67 |
10.314.060,02 |
(39,62) |
|
Total |
8.972.779,92 |
8.382.320,52 |
16.432.193,36 |
7,04 |
|
TOTAL ASSET |
12.191.610,62 |
11.690.314,27 |
17.267.114,62 |
4,29 |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
125.000,00 |
125.000,00 |
125.000,00 |
|
|
Own shares |
(5.331.250,00) |
(5.331.250,00) |
|
|
|
Other shareholders funds instruments |
|
|
248.000,00 |
|
|
Legal reserves |
25.000,00 |
25.000,00 |
25.000,00 |
|
|
Other reserves |
12.500,00 |
12.500,00 |
|
|
|
Net retained |
12.954.846,03 |
11.944.160,67 |
9.907.588,25 |
8,46 |
|
Other shareholders funds changes |
25.194,82 |
28.709,44 |
28.709,44 |
(12,24) |
|
Total |
7.811.290,85 |
6.804.120,11 |
10.334.297,69 |
14,80 |
|
Net income for the period |
214.813,73 |
1.010.685,36 |
2.049.072,42 |
(78,75) |
|
TOTAL OF SHAREHOLDERS FUNDS |
8.026.104,58 |
7.814.805,47 |
12.383.370,11 |
2,70 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Provisions |
94.375,11 |
99.094,01 |
51.698,52 |
(4,76) |
|
Total |
94.375,11 |
99.094,01 |
51.698,52 |
(4,76) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
2.264.514,22 |
1.598.312,36 |
1.851.867,43 |
41,68 |
|
Advances from costumers |
34.061,89 |
35.636,70 |
31.972,65 |
(4,42) |
|
State and other public entities |
478.334,35 |
937.349,51 |
1.523.520,91 |
(48,97) |
|
Financing obtained |
118.000,00 |
|
|
|
|
Other payable accounts |
1.175.905,47 |
1.205.116,22 |
1.424.291,00 |
(2,42) |
|
Deferrals |
315,00 |
|
394,00 |
|
|
Total |
4.071.130,93 |
3.776.414,79 |
4.832.045,99 |
7,80 |
|
TOTAL LIABILITIES |
4.165.506,04 |
3.875.508,80 |
4.883.744,51 |
7,48 |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
12.191.610,62 |
11.690.314,27 |
17.267.114,62 |
4,29 |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
21.206.457,53 |
22.441.094,40 |
24.262.419,72 |
(5,50) |
|
Operating government grants |
|
|
3.963,54 |
|
|
Cost of goods sold and materials consumed |
11.308.326,57 |
11.274.986,59 |
11.731.951,53 |
0,30 |
|
Suppliers and external services |
4.626.542,22 |
4.926.596,58 |
4.837.007,85 |
(6,09) |
|
Personnel costs |
4.719.543,86 |
4.589.497,76 |
4.227.839,99 |
2,83 |
|
Impairment of receivables (losses/revearsals) |
|
|
53.545,82 |
|
|
Provisions (increases/reductions) |
(4.718,90) |
47.395,49 |
51.698,52 |
(109,96) |
|
Other income and gains |
126.584,44 |
193.188,96 |
374.057,94 |
(34,48) |
|
Other expenses and losses |
62.045,49 |
83.618,09 |
233.822,29 |
(25,80) |
|
Result before depreciation, financing costs and taxes |
621.302,73 |
1.712.188,85 |
3.504.575,20 |
(63,71) |
|
Expenses/reversals of depreciation and amortization |
243.750,26 |
295.643,05 |
633.680,42 |
(17,55) |
|
Operating result (before financing costs and taxes) |
377.552,47 |
1.416.545,80 |
2.870.894,78 |
(73,35) |
|
interest and similar expenses incurred |
79.173,20 |
21.453,97 |
24.207,42 |
269,04 |
|
Net before taxes |
298.379,27 |
1.395.091,83 |
2.846.687,36 |
(78,61) |
|
Income tax of the period |
83.565,54 |
384.406,47 |
797.614,94 |
(78,26) |
|
Net profit for the period |
214.813,73 |
1.010.685,36 |
2.049.072,42 |
(78,75) |
RATIOS SNC
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
0,027 |
0,129 |
0,165 |
|
|
Assets Profitability |
0,031 |
0,121 |
0,166 |
|
|
Sales Net Profitability |
0,01 |
0,045 |
0,084 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
12,357 |
6,493 |
2,036 |
|
|
Asset Rotation |
1,739 |
1,92 |
1,405 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
2,097 |
2,433 |
2,964 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
2,204 |
2,22 |
3,401 |
|
|
Reduced Liquidity |
0,66 |
0,908 |
2,533 |
|
|
Immediate Liquidity |
0,256 |
0,456 |
2,135 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,658 |
0,668 |
0,717 |
|
|
Solvability |
1,927 |
2,016 |
2,536 |
|
|
Borrowed Capital Structure |
0,977 |
0,974 |
0,989 |
|
|
General Debt |
0,015 |
|
|
|
|
Debt Structure |
0,977 |
0,974 |
0,989 |
|
|
Capital Structure |
85,045 |
78,863 |
239,53 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
26,217 |
7,883 |
4,365 |
|
|
Financial Leverage Level |
1,265 |
1,015 |
1,009 |
|
|
Combined Leverage Level |
33,165 |
8,001 |
4,404 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.89 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.84.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.