|
Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOLUBEMA-SOCIEDADE LUSO-BELGA DE MARMORES SA |
|
|
|
|
Registered Office : |
Praça Duque de Terceira, 24 - 4º Lisboa 1200-161-Lisboa Lisboa |
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|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.10.1928 |
|
|
|
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Com. Reg. No.: |
500272425 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in quarrying and the exercise
of all activity extraction, processing, use and trade
of marble, granite or similar and still
building activity. |
|
|
|
|
No. of Employees : |
121 |
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
Name SOLUBEMA-SOCIEDADE LUSO-BELGA DE MARMORES SA
V.A.T. Number / NIF 500272425
Address Praça Duque de Terceira, 24 - 4º
Locality Lisboa
Postal Code 1200-161-LISBOA
Municipality LISBOA
District LISBOA
Telephone 213219080
Fax 213473417
E-Mail info@solubema.com
C.A.E.(Rev 3) 08111- Extraction of marble and other stones carbonated
|
Credit Risk Level |
|
Credit
Recommendation |
|
Actual Condition |
|
Payments |
|
Incidents |
Legal Form Joint Stock Company
Constitution 17-10-1928
V.A.T. Number / NIF 500272425
Employees 121
Capital 3.250.000,00
Sales in : 31-12-2012 6.259.656,28
Shareholders
Funds in:
31-12-2012 17.808.549,57
Credit Risk Level Very Low Credit Risk
Payments Good
Credit Recommendation Inspires Confidence for Credit
Actual Condition In activity
|
All the amounts are express in Euros, otherwise you
will be advised |
|
|
31-12-2010 |
|
31-12-2011 |
|
31-12-2012 |
|
Net Sales |
6.590.679,27 |
6.359.299,56 |
6.259.656,28 |
||
|
Net Income For the Year |
717.418,85 |
359.897,65 |
521.048,97 |
||
|
Shareholders Funds |
17.439.852,88 |
17.414.300,00 |
17.808.549,57 |
||
|
Stocks |
3.290.386,06 |
3.521.816,17 |
3.658.217,83 |
||
|
LIABILITY |
3.701.431,05 |
3.882.713,69 |
2.592.983,11 |
||
|
ASSETS |
21.141.283,93 |
21.297.013,69 |
20.401.532,68 |
|
Consulted sources say that the subject has been respecting its payments and commercial commitments, so credit connections with this company are recommended. |
|
|
|
|
Board of Director's |
|
|
ANNIE ELISABETH TARON |
Administrator |
|
PATRICE SERGE VARTAN KEZIRIAN |
Administrator |
|
JEAN KEZIRIAN |
Board of Director's President |
|
OSCAR MANUEL MAXIMIANO FRAZAO |
Administrator |
|
VASCO GEORGE OSORIO DE BARROS |
Administrator |
|
ANTONIO MACEDO DE CASTRO |
Administrator |
|
JOSE MANUEL FIGUEIRA DE SOUSA BARRETO |
Delegate Administrator |
|
ALAIN GEORGES EMILE DEMOUSTIER |
Administrator |
|
FRANCIS DIKRAN KEZIRIAN |
Administrator |
|
|
|
|
Fiscal Board |
|
|
JACQUES DOS SANTOS |
Fiscal Board President |
|
MAZARS & ASSOCIADOS-SOCIEDADE REVISORES OFICIAIS DE CONTAS SA |
Fiscal Board Vice-President |
|
LEONEL MANUEL DIAS VICENTE |
Fiscal Board Substitute |
|
HENRIQUE JOSE MARTO OLIVEIRA |
Fiscal Board Vice-President |
|
|
|
|
Chair of General Meeting |
|
|
CARLOS ALBERTO MARTINS PORTAS |
Chair of General Meeting President |
|
Registed on the Register Record Office of Lisboa with the Register Number 500272425 previous number 12174 in 17-10-1928 |
|
Constitution celebrated in 17-10-1928 published on Diário da República of 31-07-1928 |
|
To oblige the company it is necessary 2 signature |
|
Changes to Society |
|
In 23-05-2012 on Portal MJ of 06-08-2012 board of director's change |
|
In 29-05-2009 on Portal MJ of 19-05-2010 board of director's change |
|
In 15-11-2006 on Portal MJ of 04-12-2006 board of director's change |
|
In 16-07-2003 on Diário da República number 251 of 29-10-2003 board of director's change |
|
In 31-07-2000 on Diário da República number 224 of 27-09-2000 board of director's change |
|
The Capital is 3.250.000,00 , divided in 650000 shares , with a nominal value of 5,00 |
|
|
with the following shareholders |
|
COMPAGNIE DES MARBRES SA |
2.913.950,00 |
89,66% |
|
|
|
|
NAME |
COMPAGNIE DES MARBRES SA |
|
Funtion |
Shareholder |
|
Address |
7, Val Sainte Croix L - 1371 Luxembourg |
|
Line of Business |
Percentage |
|
Quarrying and the exercise of all activity extraction, processing, use and trade of marble, granite or similar and still building activity |
100% |
|
Type of Clients |
Wholesalers/Retailers/Manufacturers/Public |
|
|
|
Sales Conditions |
Credit |
|
|
|
Sales Area |
|
|
|
|
Country |
82,86% |
Foreign |
17,14% |
|
Imports |
12,1% |
from |
ESPANHA |
|
Exports |
17,14% |
to |
ESPANHA,GRECIA,ITALIA,BELGICA |
|
MILLENNIUM BCP |
Centro de Empresas de Lisboa |
|
BANCO BPI, SA |
Centro Empresas do Alentejo |
|
BANCO ESPIRITO SANTO, SA |
Centro de Empresas de Lisboa |
|
CAIXA GERAL DE DEPOSITOS, SA |
Lisboa |
|
BNP PARIBAS LUXEMBOURG |
Lisboa |
|
CAIXA DE CREDITO AGRICOLA MUTUO |
Reguengos de Monsaráz |
|
There are no of incidents on our database |
|
Total |
121 |
|
|
|
|
|
|
|
Lusitania Companhia Seguros SA |
|
Head office and office Praça Duque de Terceira, 24 - 4º Andar, Lisboa, 1200-161, LISBOA, Tel:213219080, Fax:213473417 |
|
The subject participates on the following company(ies) |
|
|
|
|
|
NAME |
ETMA-EMPRESA TRANSFORMADORA DE MARMORES DO ALENTEJO SA |
|
Address |
Lugar de Cabanas-Herdade de Vigaria, Apartado 27 |
|
Locality |
Vila Vicosa |
|
Telephone |
268887100 |
|
Fax |
268980657 |
|
E-Mail |
info@etma.eu |
|
Web Site |
www.etma.eu |
|
C.A.E. |
23701- Manufacture of marble and rocks similar |
|
Capital |
1.500.000,00 |
|
Participation |
98,27% |
|
Event |
General Description |
|
Foreign Participations |
A titular participa com 100% do capital da firma ETMA SPAIN NATURAL STONE SL em Espanha e com 98,22% da firma SOCIETE ANONYME DE MERBES SPRIMONT MARPIC NV na Bélgica |
|
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 |
7.216.163,67 |
7.426.407,31 |
6.633.313,54 |
(2,83) |
|
Intangible assets |
|
|
966,86 |
|
|
Financial participations - patrimonial equity method |
6.253.633,34 |
5.915.730,96 |
5.719.713,05 |
5,71 |
|
Financial participations - other methods |
540.668,66 |
540.668,66 |
740.668,66 |
|
|
Other financial assets |
22.591,71 |
22.591,71 |
22.591,71 |
|
|
Total |
14.033.057,38 |
13.905.398,64 |
13.117.253,82 |
0,92 |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
3.658.217,83 |
3.521.816,17 |
3.290.386,06 |
3,87 |
|
Costumers |
1.504.879,76 |
2.147.090,66 |
3.007.186,35 |
(29,91) |
|
State and other public entities |
2.794,04 |
39.574,45 |
2.520,00 |
(92,94) |
|
Shareholders/partners |
12.645,15 |
12.645,15 |
12.645,15 |
|
|
Other accounts receivable |
964.628,47 |
526.346,94 |
626.460,03 |
83,27 |
|
Deferrals |
59.926,81 |
51.605,02 |
41.635,72 |
16,13 |
|
Cashier and bank deposits |
165.383,24 |
1.092.536,66 |
1.043.196,80 |
(84,86) |
|
Total |
6.368.475,30 |
7.391.615,05 |
8.024.030,11 |
(13,84) |
|
TOTAL ASSET |
20.401.532,68 |
21.297.013,69 |
21.141.283,93 |
(4,20) |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
3.250.000,00 |
3.250.000,00 |
3.250.000,00 |
|
|
Own shares |
(330.326,40) |
(330.326,40) |
(330.326,40) |
|
|
Legal reserves |
708.881,89 |
690.887,01 |
655.016,06 |
2,60 |
|
Other reserves |
439.305,43 |
439.305,43 |
439.305,43 |
|
|
Net retained |
4.335.084,31 |
4.315.998,85 |
4.246.902,78 |
0,44 |
|
Adjustments on financial assets |
5.192.417,36 |
4.996.399,45 |
4.769.398,15 |
3,92 |
|
Revaluation surplus |
3.692.138,01 |
3.692.138,01 |
3.692.138,01 |
|
|
Total |
17.287.500,60 |
17.054.402,35 |
16.722.434,03 |
1,37 |
|
Net income for the period |
521.048,97 |
359.897,65 |
717.418,85 |
44,78 |
|
TOTAL OF SHAREHOLDERS FUNDS |
17.808.549,57 |
17.414.300,00 |
17.439.852,88 |
2,26 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Financing obtained |
709.857,90 |
990.145,30 |
625.000,00 |
(28,31) |
|
Total |
709.857,90 |
990.145,30 |
625.000,00 |
(28,31) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
722.578,52 |
966.919,31 |
741.075,65 |
(25,27) |
|
Advances from costumers |
104.753,60 |
|
|
|
|
State and other public entities |
279.615,32 |
332.438,36 |
302.448,47 |
(15,89) |
|
Shareholders/partners |
1.877,66 |
1.474,66 |
990,31 |
27,33 |
|
Financing obtained |
279.520,51 |
1.065.144,96 |
809.174,16 |
(73,76) |
|
Other payable accounts |
494.779,60 |
526.591,10 |
1.222.742,46 |
(6,04) |
|
Total |
1.883.125,21 |
2.892.568,39 |
3.076.431,05 |
(34,90) |
|
TOTAL LIABILITIES |
2.592.983,11 |
3.882.713,69 |
3.701.431,05 |
(33,22) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
20.401.532,68 |
21.297.013,69 |
21.141.283,93 |
(4,20) |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
6.259.656,28 |
6.359.299,56 |
6.590.679,27 |
(1,57) |
|
Gains/losses allocated subsidiaries, associates and
joint ventures |
333.562,38 |
196.017,91 |
227.001,03 |
70,17 |
|
Variation in production inventories |
182.471,18 |
235.483,14 |
519.304,58 |
(22,51) |
|
Work for the entity itself |
89.072,50 |
51.414,18 |
33.131,53 |
73,25 |
|
Cost of goods sold and materials consumed |
1.346.740,32 |
1.336.503,88 |
1.275.484,64 |
0,77 |
|
Suppliers and external services |
1.612.566,58 |
1.863.849,82 |
1.852.508,95 |
(13,48) |
|
Personnel costs |
3.273.088,34 |
3.480.588,53 |
3.635.247,34 |
(5,96) |
|
Other income and gains |
377.137,03 |
522.495,16 |
583.518,29 |
(27,82) |
|
Other expenses and losses |
91.652,98 |
69.325,80 |
83.872,23 |
32,21 |
|
Result before depreciation, financing costs and taxes |
917.851,15 |
614.441,92 |
1.106.521,54 |
49,38 |
|
Expenses/reversals of depreciation and amortization |
256.424,42 |
217.591,62 |
291.296,91 |
17,85 |
|
Operating result (before financing costs and taxes) |
661.426,73 |
396.850,30 |
815.224,63 |
66,67 |
|
Interest and similar income obtained |
4.473,76 |
58.056,16 |
32.679,13 |
(92,29) |
|
interest and similar expenses incurred |
46.307,48 |
39.060,29 |
20.931,63 |
18,55 |
|
Net before taxes |
619.593,01 |
415.846,17 |
826.972,13 |
49,00 |
|
Income tax of the period |
98.544,04 |
55.948,52 |
109.553,28 |
76,13 |
|
Net profit for the period |
521.048,97 |
359.897,65 |
717.418,85 |
44,78 |
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
|
|
|
|
|||
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
0,029 |
0,021 |
0,041 |
|
|
Assets Profitability |
0,032 |
0,019 |
0,039 |
|
|
Sales Net Profitability |
0,083 |
0,057 |
0,109 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
87,749 |
123,235 |
166,541 |
|
|
Asset Rotation |
0,307 |
0,299 |
0,312 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
1,501 |
1,443 |
1,462 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
3,382 |
2,555 |
2,608 |
|
|
Reduced Liquidity |
1,439 |
1,338 |
1,539 |
|
|
Immediate Liquidity |
0,088 |
0,378 |
0,339 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,873 |
0,818 |
0,825 |
|
|
Solvability |
6,868 |
4,485 |
4,712 |
|
|
Borrowed Capital Structure |
0,726 |
0,745 |
0,831 |
|
|
General Debt |
0,056 |
0,118 |
0,082 |
|
|
Medium Long Term Debt |
0,04 |
0,057 |
0,036 |
|
|
Debt Structure |
0,726 |
0,745 |
0,831 |
|
|
Capital Structure |
25,087 |
17,588 |
27,904 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
7,428 |
12,657 |
6,52 |
|
|
Financial Leverage Level |
1,068 |
0,954 |
0,986 |
|
|
Combined Leverage Level |
7,933 |
12,075 |
6,429 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.