MIRA INFORM REPORT
|
Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
Amc Grupo Alimentacion Fresco Y Zumos
Sociedad Anonima |
|
|
|
|
Registered Office : |
Ctra Madrid - Cartagena - Km 390, Murcia, 30100 |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1950 |
|
|
|
|
Com. Reg. No.: |
A30009146 |
|
|
|
|
Legal Form : |
Public Independent Company |
|
|
|
|
Line of Business : |
Production and commercialization
of citrus and other fruits such as nectarines, peaches, cherries and grapes;
production of fruit juices |
|
|
|
|
No. of Employees : |
1,297 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
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
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.
|
Source : CIA |
Company name & address
Amc
Grupo Alimentacion Fresco Y Zumos Sociedad Anonima
Ctra Madrid - Cartagena - Km 390
Murcia, 30100
Spain
Tel:
+(34) 902238775
Fax:
+(34) 968278210
Web: www.amcgrupo.eu
Synthesis
Employees:
1,297
Company Type:
Public Independent
Incorporation Date: 1950
Auditor:
Abantos Auditores Y Asesores Sl
Financials in: usd (millions)
Fiscal Year End: 20-Aug-2013
Reporting Currency:
Euro
Annual Sales:
248.0 1
Net Income:
3.2
Total Assets:
315.4
Business Description
Production and commercialization of citrus and
other fruits such as nectarines, peaches, cherries and grapes; production of
fruit juices
Industry
Industry Crop and Animal
Production
ANZSIC 2006:
0136 - Citrus Fruit Growing
ISIC Rev 4:
0123 - Growing of citrus fruits
NACE Rev 2:
0123 - Growing of citrus fruits
NAICS 2012:
111320 - Citrus (except Orange) Groves
UK SIC 2007:
0123 - Growing of citrus fruits
US SIC 1987:
0174 - Citrus Fruits
Key Executives
|
Name |
Title |
|
Beraza Antonio MuNoz |
Joint Chief Executive Officer, Secretary, Member Of The Board |
|
Armero Antonio MuNoz |
Member Of The Board, Joint Chief Executive Officer, President |
|
Ciller Gea Salvador |
Financial Director |
|
Salvador Ciller Del Gea |
Director Financiero |
|
Beraza Alvaro MuNoz |
Vice Chairman, Member Of The Board, Joint Chief Executive Officer |
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7663997
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7494969
Corporate Overview
Location
Ctra Madrid - Cartagena
- Km 390
Murcia, 30100
Spain
Tel: +(34) 902238775
Fax: +(34) 968278210
Web: www.amcgrupo.eu
Sales EUR(mil): 190.1
Assets EUR(mil): 236.4
Employees: 1,297
Fiscal Year End: 20-Aug-2013
Industry: Crops
Incorporation
Date: 1950
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(ESP): A30009146
Joint Chief Executive Officer, Secretary, Member Of
The Board:
Beraza Antonio MuNoz
Industry Codes
ANZSIC 2006
Codes:
0136 - Citrus
Fruit Growing
0134 - Apple
and Pear Growing
0131 - Grape Growing
1140 - Fruit and Vegetable Processing
ISIC Rev 4 Codes:
0123 - Growing
of citrus fruits
1030 - Processing
and preserving of fruit and vegetables
0121 - Growing
of grapes
0125 - Growing
of other tree and bush fruits and nuts
NACE Rev 2 Codes:
0123 - Growing
of citrus fruits
1039 - Other
processing and preserving of fruit and vegetables
0125 - Growing
of other tree and bush fruits and nuts
0121 - Growing
of grapes
NAICS 2012 Codes:
111320 - Citrus
(except Orange) Groves
111339 - Other
Noncitrus Fruit Farming
311421 - Fruit
and Vegetable Canning
111332 - Grape
Vineyards
US SIC 1987:
0174 - Citrus Fruits
0175 - Deciduous Tree Fruits
2033 - Canned Fruits, Vegetables, Preserves,
Jams, and Jellies
0172 - Grapes
UK SIC 2007:
0123 - Growing of citrus fruits
1039 - Other processing and preserving of
fruit and vegetables
0121 - Growing of grapes
0125 - Growing of other tree and bush fruits
and nuts
Business Description
Manufacture of fruit and vegetable juice
More Business Descriptions
Production and
commercialization of citrus and other fruits such as nectarines, peaches,
cherries and grapes; production of fruit juices
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive report
|
Board of
Directors |
|
|
|
|
|||
|
Vice Chairman, Member Of The Board, Joint Chief Executive Officer |
Vice-Chairman |
|
|||
|
Joint Chief Executive Officer, Secretary, Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board, Joint Chief Executive Officer, President |
Director/Board Member |
|
|
Executives |
|
|
|
|
|||
|
Joint Chief Executive Officer, Secretary, Member Of The Board |
Chief Executive Officer |
|
|||
|
Member Of The Board, Joint Chief Executive Officer, President |
Chief Executive Officer |
|
|||
|
Managing Director |
Managing Director |
|
|||
|
Director Financiero |
Finance Executive |
|
|||
|
Financial Director |
Finance Executive |
|
Annual Profit & Loss
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
253.4 |
274.9 |
246.6 |
|
Stock Reduction |
0.5 |
- |
1.1 |
|
Supplies |
145.3 |
172.8 |
148.7 |
|
Goods Consumption |
28.2 |
28.5 |
35.5 |
|
Consumption of Raw
Materials |
115.8 |
142.0 |
108.1 |
|
Miscellaneous External
Expenditures |
1.3 |
2.3 |
5.1 |
|
Staff Costs |
39.1 |
39.7 |
36.6 |
|
Wages and Salaries |
31.1 |
31.7 |
29.4 |
|
Social Security Costs |
8.0 |
8.0 |
7.2 |
|
Depreciation |
6.4 |
6.4 |
5.8 |
|
Allowance for Trade Operations |
0.5 |
0.0 |
0.3 |
|
Losses from
Unrecovered Receivables |
0.5 |
0.0 |
0.3 |
|
Other Operating Charges |
53.7 |
48.8 |
48.0 |
|
External Services |
53.4 |
48.6 |
47.8 |
|
Taxes |
0.3 |
0.2 |
0.2 |
|
Other Operating
Expenses |
- |
0.0 |
- |
|
Operating Benefits |
9.1 |
6.3 |
8.0 |
|
Financials and Similar Charges |
6.7 |
5.8 |
5.4 |
|
Due to Liabilities
With Group Companies |
0.4 |
0.3 |
0.3 |
|
Due to Other
Liabilities |
6.3 |
5.6 |
4.3 |
|
Losses from Financial
Investments |
0.0 |
0.0 |
0.8 |
|
Changes in Financial Investment Provisions |
0.8 |
0.3 |
0.2 |
|
Exchange Losses |
0.3 |
0.5 |
1.1 |
|
Profit From Ordinary Activities |
3.3 |
2.1 |
4.0 |
|
Extraordinary Expenses |
- |
0.0 |
1.3 |
|
Extraordinary Profit |
0.2 |
5.6 |
2.1 |
|
Profit Before Taxes |
3.5 |
7.7 |
6.1 |
|
Corporation Tax |
0.3 |
0.5 |
-2.1 |
|
Financial Year Result (Profit) |
3.1 |
7.2 |
8.2 |
|
Income |
256.5 |
282.1 |
254.8 |
|
Net Total Sales |
244.2 |
259.3 |
236.8 |
|
Sales |
246.1 |
262.0 |
239.2 |
|
Rendering of Services |
0.6 |
- |
- |
|
Sales Refunds |
-2.5 |
-2.7 |
-2.4 |
|
Increase in Stocks |
- |
3.0 |
- |
|
Works Performed for Fixed Assets |
1.5 |
3.2 |
1.3 |
|
Miscellaneous Operating Income |
8.8 |
8.4 |
10.4 |
|
Auxiliary Income From
Current Management |
8.7 |
8.3 |
10.1 |
|
Grants |
0.1 |
0.1 |
0.2 |
|
Charges for Provisions |
- |
0.0 |
- |
|
Income From Equity Investment |
1.1 |
1.7 |
0.9 |
|
In Group Companies |
1.1 |
1.7 |
0.8 |
|
Third Parties |
0.0 |
0.0 |
0.0 |
|
Income From Miscellaneous Interests |
0.7 |
0.7 |
2.0 |
|
Miscellaneous
Interests |
0.7 |
0.6 |
0.4 |
|
Profit on Financial
Investment |
0.0 |
0.1 |
1.5 |
|
Negative Financial Results |
5.9 |
4.2 |
4.0 |
|
Profit on Disposal of Assets |
0.0 |
5.2 |
3.1 |
|
Capital Grants Transferred to Profit and Loss |
0.2 |
0.3 |
0.3 |
|
Extraordinary Income |
0.0 |
0.1 |
- |
Annual Balance Sheet
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Research and
Development Costs |
2.1 |
2.1 |
0.1 |
|
Software |
1.5 |
1.4 |
1.2 |
|
Total Intangible Fixed Assets |
3.6 |
3.5 |
1.2 |
|
Land and Construction |
21.6 |
20.9 |
22.6 |
|
Technical
Installations and Machinery |
19.3 |
18.8 |
19.6 |
|
Other Installations,
Tools, and Furniture |
3.1 |
3.0 |
3.2 |
|
Tangible Fixed Assets
Under Construction |
5.5 |
2.1 |
3.4 |
|
Other Tangible Assets |
2.4 |
2.4 |
2.5 |
|
Total Tangible Fixed Assets |
52.0 |
47.2 |
51.3 |
|
Investments in Group
Companies |
25.7 |
22.0 |
18.7 |
|
Receivables from Group
Companies |
26.5 |
- |
- |
|
Long-Term Securities
Portfolio |
4.9 |
7.3 |
0.6 |
|
Other Receivables |
3.4 |
0.3 |
0.3 |
|
Long-Term Guarantees
and Deposits |
0.0 |
0.0 |
- |
|
Financial Investments |
60.5 |
29.6 |
19.6 |
|
Own Shares |
21.3 |
21.0 |
- |
|
Total Fixed Assets |
137.4 |
101.2 |
72.1 |
|
Goods for Resale |
- |
- |
1.2 |
|
Raw Materials and Other
Consumables |
34.9 |
28.6 |
36.8 |
|
Goods in Process |
0.1 |
0.1 |
0.3 |
|
Finished Products |
12.6 |
12.4 |
8.3 |
|
Payments on Account |
1.9 |
3.0 |
2.5 |
|
Total Stocks |
49.5 |
44.1 |
49.1 |
|
Trade Debtors |
37.6 |
44.6 |
41.8 |
|
Receivables, Group
Companies |
21.1 |
23.5 |
22.2 |
|
Other Debtors |
0.0 |
5.1 |
0.4 |
|
Staff |
0.0 |
0.0 |
0.0 |
|
Public Bodies |
5.6 |
7.3 |
6.9 |
|
Total Debtors |
64.4 |
80.5 |
71.3 |
|
Short-Term Securities
Portfolio |
3.0 |
0.3 |
0.5 |
|
Other Receivables |
21.0 |
36.0 |
33.9 |
|
Short-Term Guarantees
and Deposits |
35.0 |
29.2 |
25.1 |
|
Total Short-Term Investments |
59.0 |
65.5 |
59.5 |
|
Cash |
1.7 |
2.4 |
15.3 |
|
Prepayments and Accrued Income |
0.5 |
0.1 |
0.3 |
|
Total Current Assets |
175.0 |
192.5 |
195.5 |
|
Total Assets |
312.4 |
293.8 |
267.6 |
|
Legal Reserve |
1.3 |
1.2 |
1.3 |
|
Miscellaneous Reserves |
85.7 |
77.1 |
82.8 |
|
Total Reserves |
86.9 |
78.3 |
84.0 |
|
Profit or Loss for the Financial Year |
3.2 |
6.7 |
8.3 |
|
Total Equity |
95.4 |
90.2 |
98.0 |
|
Capital Grants |
0.3 |
0.3 |
0.5 |
|
Total Deferred Income |
0.3 |
0.3 |
0.5 |
|
Convertible Debentures |
- |
0.0 |
- |
|
Total Issued Debentures and Other Securities |
- |
0.0 |
- |
|
Loans and Other
Liabilities |
20.0 |
18.2 |
17.5 |
|
Long-Term Liabilities
from Capital Leases |
1.4 |
2.4 |
1.5 |
|
Total Amounts Owed to Credit Institutions |
21.4 |
20.6 |
19.0 |
|
Other Creditors |
17.0 |
19.5 |
0.1 |
|
Long-Term Guarantees
and Deposits Received |
0.0 |
0.0 |
0.0 |
|
Long-Term Payables to
Public Bodies |
2.8 |
2.2 |
1.6 |
|
Total Other Creditors |
19.8 |
21.8 |
1.7 |
|
Total Long Term Liabilities |
41.2 |
42.4 |
20.7 |
|
Loans and Other
Liabilities |
91.9 |
88.9 |
73.8 |
|
Short-Term Liabilities
from Capital Leases |
1.3 |
1.9 |
1.8 |
|
Total Amounts Owed to Credit Institutions |
93.2 |
90.8 |
75.5 |
|
Amounts Owed to Group
Companies |
16.7 |
15.3 |
11.1 |
|
Total Short-Term Amounts Owed to Group and
Associa |
16.7 |
15.3 |
11.1 |
|
Amounts Owed for Purchases
of Goods or Services |
60.2 |
49.9 |
59.2 |
|
Total Trade Creditors |
60.2 |
49.9 |
59.2 |
|
Public Bodies |
1.2 |
1.0 |
1.5 |
|
Miscellaneous Debts |
2.8 |
2.8 |
0.0 |
|
Wages and Salaries
Payable |
1.5 |
1.1 |
1.1 |
|
Total Other Creditors |
5.5 |
4.9 |
2.6 |
|
Total Short Term Creditors |
175.6 |
161.0 |
148.5 |
|
Total Liabilities and Equity |
312.4 |
293.8 |
267.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
UK Pound |
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
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 |
|
-- |
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.