|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ESAN ECZACIBASI ENDUSTRIYEL HAMMADDELER
SANAYI VE TICARET A.S. |
|
|
|
|
Registered Office : |
Istanbul Deri Organize Sanayi Bolgesi Kazlicesme Cad. No: 35 G-5 Ozel
Parsel Tuzla 34956 Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Date of Incorporation : |
20.11.1978 |
|
|
|
|
Com. Reg. No.: |
158773 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· Mining, processing and trade of raw materials to be used at ceramic sector and other different sectors Subject has also started to deal with processing and trade
of zinc |
|
|
|
|
No. of Employees : |
882 |
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) |
|
Turkey |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
turkEy ECONOMIC OVERVIEW
Turkey's
largely free-market economy is increasingly driven by its industry and service sectors,
although its traditional agriculture sector still accounts for about 25% of
employment. An aggressive privatization program has reduced state involvement
in basic industry, banking, transport, and communication, and an emerging cadre
of middle-class entrepreneurs is adding dynamism to the economy and expanding
production beyond the traditional textiles and clothing sectors. The
automotive, construction, and electronics industries, are rising in importance
and have surpassed textiles within Turkey's export mix. Oil began to flow
through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone
that will bring up to 1 million barrels per day from the Caspian to market.
Several gas pipelines projects also are moving forward to help transport
Central Asian gas to Europe through Turkey, which over the long term will help
address Turkey's dependence on imported oil and gas to meet 97% of its energy
needs. After Turkey experienced a severe financial crisis in 2001, Ankara
adopted financial and fiscal reforms as part of an IMF program. The reforms
strengthened the country's economic fundamentals and ushered in an era of
strong growth - averaging more than 6% annually until 2008. Global economic
conditions and tighter fiscal policy caused GDP to contract in 2009, but
Turkey's well-regulated financial markets and banking system helped the country
weather the global financial crisis and GDP rebounded strongly to 9.2% in 2010,
as exports returned to normal levels following the recession. Growth dropped to
approximately 3% in 2012. Turkey's public sector debt to GDP ratio has fallen
to about 40%, and at least one rating agency upgraded Turkey's debt to
investment grade in 2012. Turkey remains dependent on often volatile,
short-term investment to finance its large trade deficit. The stock value of
FDI stood at $117 billion at year-end 2012. Inflows have slowed because of
continuing economic turmoil in Europe, the source of much of Turkey's FDI.
Turkey's relatively high current account deficit, uncertainty related to
monetary policy-making, and political turmoil within Turkey's neighborhood
leave the economy vulnerable to destabilizing shifts in investor confidence.
|
Source : CIA |
COMPANY IDENTIFICATION
|
|
|
||
|
NAME |
: |
ESAN ECZACIBASI ENDUSTRIYEL HAMMADDELER SANAYI VE TICARET A.S. |
|
HEAD OFFICE ADDRESS |
: |
Istanbul Deri Organize Sanayi Bolgesi Kazlicesme Cad. No: 35 G-5 Ozel
Parsel Tuzla 34956 Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-216-581 64 00 |
|
FAX NUMBER |
: |
90-216-581 64 99 |
|
WEB-ADDRESS |
: |
|
LEGAL STATUS AND HISTORY
|
|
|
||
|
TAX OFFICE |
: |
Buyuk Mukellefler |
|
TAX NO |
: |
3770045482 |
|
REGISTRATION NUMBER |
: |
158773 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
|
DATE ESTABLISHED |
: |
20.11.1978 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
04.12.1978/33 |
|
LEGAL FORM |
: |
Joint Stock Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 36.000.000 |
|
HISTORY |
: |
|
OWNERSHIP / MANAGEMENT
|
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SHAREHOLDERS |
: |
|
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|
GROUP PARENT COMPANY |
: |
ECZACIBASI HOLDING A.S. |
||||||||||||||
|
SISTER COMPANIES |
: |
BURGBAD AG CENNET KOYU TURIZM ISLETMELERI SANAYI VE TICARET A.S. ECZACIBASI BILISIM SANAYI VE TICARET A.S. ECZACIBASI GAYRIMENKUL GELISTIRME VE YATIRIM A.S. ECZACIBASI GIRISIM PAZARLAMA TUKETIM URUNLERI SANAYI VE TICARET A.S. ECZACIBASI HAVACILIK A.S. ECZACIBASI HEALTH CARE (RUSSIA) ECZACIBASI HIJYEN URUNLERI SANAYI VE TICARET A.S. ECZACIBASI HOLDING A.S. ECZACIBASI ILAC TICARET A.S. ECZACIBASI MEDIKAL VE KOZMETIK URUNLERI SANAYI VE TICARET A.S. ECZACIBASI MENKUL DEGERLER A.S. ECZACIBASI MONROL NUKLEER URUNLER SANAYI VE TICARET A.S. ECZACIBASI PORTFOY YONETIMI A.S. ECZACIBASI SAGLIK HIZMETLERI A.S. ECZACIBASI SCHWARZKOPF KUAFOR URUNLERI PAZARLAMA A.S. ECZACIBASI YAPI GERECLERI SANAYI VE TICARET A.S. ECZACIBASI YATIRIM HOLDING ORTAKLIGI A.S. ECZACIBASI YATIRIM ORTAKLIGI A.S. ECZACIBASI-BAXTER HASTANE URUNLERI SANAYI VE TICARET A.S. EHP ECZACIBASI HEALTH CARE PRODUCTS JOINT STOCK CO. EIP ECZACIBASI ILAC PAZARLAMA A.S. EIS ECZACIBASI ILAC SINAI VE FINANSAL YATIRIMLAR SANAYI VE TICARET
A.S. E-KART ELEKTRONIK KART SISTEMLERI SANAYI VE TICARET A.S. EKOM ECZACIBASI DIS TICARET A.S. ENGERS KERAMIK GMBH&CO. KG ESAN ITALIA MINERALS S.R.L ESI ECZACIBASI SIGORTA ACENTALIGI A.S. INTEMA INSAAT VE TESISAT MALZEMELERI YATIRIM VE PAZARLAMA A.S. IPEK KAGIT KAZAKISTAN IPEK KAGIT SANAYI VE TICARET A.S. KANYON YONETIM ISLETIM VE PAZARLAMA LTD. STI. KARINCA TASARIM URUNLERI SANAYI VE TICARET A.S. KAYNAK TEKNIGI SANAYII VE TICARET A.S. MOLEKULER GORUNTULEME TICARET VE SANAYI A.S. NIVEA BEIERSDORF TURKEY KOZMETIK SANAYI VE TICARET A.S. V&B FLIESEN GMBH VITRA BAD GMBH VITRA BATH AND TILES RUSSIA VITRA KARO SANAYI VE TICARET A.S. VITRA KUVET SANAYI VE TICARET A.S. VITRA SANITARYWARE MARKETING LIMITED (UK) VITRA TILES IRELAND LTD. VITRA UK VITRA USA INC. YAPI IS YATIRIM EMLAK VE INSAAT A.S. |
||||||||||||||
|
SUBSIDIARIES |
: |
Esan Cosovo S.H.P.K. ( 99 % ) Esan Italian Minerals SRL ( 99
% ) Esan MISR Minerals LTD ( 85 % ) LLC Esan Minerals Ukraine ( 100
% ) |
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BOARD OF DIRECTORS |
: |
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DIRECTORS |
: |
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OPERATIONS
|
|
|
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BUSINESS ACTIVITIES |
: |
Mining, processing and trade of raw materials to be used at ceramic
sector and other different sectors.
The firm has also started to deal with processing and trade of zinc and lead in
November, 2009. The subject has
declared that it is planning to start an investment for a new facility to
process magnesium in Eskisehir in 2013 which is expected to be completed in
2015. |
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|
NACE CODE |
: |
CB.14.20 |
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NUMBER OF EMPLOYEES |
: |
882 |
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REMARKS ON NUMBER OF EMPLOYEES |
: |
The number of employees include subcontractors. |
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NET SALES |
: |
|
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REMARKS ON NET SALES |
: |
The net sales figure in 2012 is declared by the company. There is no
certification for this figure. |
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IMPORT COUNTRIES |
: |
Ukraine U.S.A. China Russia |
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MERCHANDISE IMPORTED |
: |
Raw materials |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Algeria Italy Syria Saudi Arabia Egypt Russia Morocco Thailand |
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|
MERCHANDISE EXPORTED |
: |
Titanium ore |
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|
HEAD OFFICE ADDRESS |
: |
Istanbul Deri Organize Sanayi Bolgesi Kazlicesme Cad. No: 35 G-5 Ozel
Parsel Tuzla 34956 Istanbul / Turkey |
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|
BRANCHES |
: |
Mine : Milas Soke Asfalti 4. Km. Burgaz Mah. Milas
Mugla/Turkey (owned) Mine : Bozuyuk Bilecik/Turkey (owned) Mine : Bandirma Balikesir/Turkey (owned) Mine : Cine Aydin/Turkey (owned) Mine : Balya Balikesir/Turkey (owned) |
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|
INVESTMENTS |
: |
None |
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|
TREND OF BUSINESS |
: |
There was an upwards trend in
2012. |
|
SIZE OF BUSINESS |
: |
Giant |
FINANCE
|
|
|
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MAIN DEALING BANKS |
: |
Akbank Kurumsal Branch Garanti Bankasi Istanbul Kurumsal Branch T.Is Bankasi Kurumsal Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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|
REMARKS ON KEY FINANCIAL ELEMENTS |
: |
The financial figures in 2012 are declared by the company. There is no
certification for these figures. |
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|
Capitalization |
In Order As of 31.12.2012 |
|
Liquidity |
Fair As of 31.12.2012 |
|
Remarks On Liquidity |
Current ratio is 0,94 |
|
Profitability |
High Net Profitability in 2012 |
|
General Financial Position |
Fair |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2002 ) |
30,80 % |
1,5168 |
1,3741 |
2,2001 |
|
( 2003 ) |
13,90 % |
1,5302 |
1,7141 |
2,4982 |
|
( 2004 ) |
13,84 % |
1,4266 |
1,7666 |
2,6001 |
|
( 2005 ) |
2,66 % |
1,3499 |
1,6882 |
2,4623 |
|
( 2006 ) |
11,58 % |
1,4309 |
1,7987 |
2,6377 |
|
( 2007 ) |
5,94 % |
1,3075 |
1,7901 |
2,6133 |
|
( 2008 ) |
8,11 % |
1,2858 |
1,8876 |
2,3708 |
|
( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
|
( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 01.01-30.09.2013) |
4,43 % |
1,8785 |
2,4774 |
2,9189 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
UK Pound |
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.