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Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MENEXOPOULOS, D., BROS O.E. |
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Formerly Known as: |
MENEXOPOULOS DIMITRIOS |
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Registered Office : |
49 Katouni 54625 Thessaloniki Thessaloniki |
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Country : |
Greece |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1974 |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufactures canned fruits and specialties. |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Greece |
B2 |
B2 |
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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 |
GREECE - ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector
accounting for about 40% of GDP and with per capita GDP about two-thirds that of
the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make
up nearly one-fifth of the work force, mainly in agricultural and unskilled
jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual
GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due
partly to infrastructural spending related to the 2004 Athens Olympic Games,
and in part to an increased availability of credit, which has sustained record
levels of consumer spending. But the economy went into recession in 2009 as a
result of the world financial crisis, tightening credit conditions, and Athens'
failure to address a growing budget deficit. The economy contracted by 2.3% in
2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the EU's
Growth and Stability Pact budget deficit criterion of no more than 3% of GDP
from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding
it again in 2009, with the deficit reaching 15% of GDP. Austerity measures
reduced the deficit to about 8% in 2012. Deteriorating public finances,
inaccurate and misreported statistics, and consistent underperformance on
reforms prompted major credit rating agencies to downgrade Greece's
international debt rating in late 2009, and has led the country into a
financial crisis. Under intense pressure from the EU and international market
participants, the government adopted a medium-term austerity program that
includes cutting government spending, decreasing tax evasion, overhauling the
health-care and pension systems, and reforming the labor and product markets.
Athens, however, faces long-term challenges to push through unpopular reforms
in the face of widespread unrest from the country's powerful labor unions and
the general public. In April 2010 a leading credit agency assigned Greek debt
its lowest possible credit rating; in May 2010, the International Monetary Fund
and Euro-Zone governments provided Greece emergency short- and medium-term
loans worth $147 billion so that the country could make debt repayments to
creditors. In exchange for the largest bailout ever assembled, the government
announced combined spending cuts and tax increases totaling $40 billion over
three years, on top of the tough austerity measures already taken. Greece, however,
struggled to meet 2010 targets set by the EU and the IMF, especially after
Eurostat - the EU's statistical office - revised upward Greece's deficit and
debt numbers for 2009 and 2010. European leaders and the IMF agreed in October
2011 to provide Athens a second bailout package of $169 billion. The second
deal however, calls for Greece's creditors to write down a significant portion
of their Greek government bond holdings. In exchange for the second loan Greece
has promised to introduce an additional $7.8 billion in austerity measures
during 2013-15. However, these massive austerity cuts are lengthening Greece's
economic recession and depressing tax revenues. Greece's lenders are calling on
Athens to step up efforts to increase tax collection, privatize public
enterprises, and rein in health spending, and are planning to give Greece more
time to shore up its economy and finances. Many investors doubt that Greece can
sustain fiscal efforts in the face of a bleak economic outlook, public
discontent, and political instability.
|
Source
: CIA |
Name: MENEXOPOULOS,
D., BROS O.E.
Address: 49 KATOUNI
54625
THESSALONIKI
THESSALONIKI
GREECE
Telephone: 30 2310532743
30
2310531768
30
2310534511
Telefax: 30 2310543216
E-mail: info@menexopoulos.gr
Web address: www.menexopoulos.gr
Started: 1988
Year Inc: 1988
Legal Form: General
Partnership
Chamber of Commerce Number: 59195
Tax Registration Number: 082150047
Subject continues the business activities of
the general partnership firm MENEXOPOPOULOS, J., BROS O.E., established in 1974
and originally founded in 1944, as MENEXOPOULOS DIMITRIOS sole proprietorship.
Employs: 30 as at Sep 12, 2011 including 0 part-time staff.
The
number of employees varies according to needs.
The
number of employees peaks to 30.
Panagiotis Dimitrios Menexopoulos
Administrator
Partner
Has a 50% interest in the partnership.
John Dimitrios Menexopoulos
Administrator
Partner
Has a 50% interest in the partnership
Alpha Bank A.E., Egnatia Branch branch., 2 Egnatia
Odos, Thessaloniki 54626, Greece.
Telephone: 30
2310563500
National Bank of Greece S.A., Thessaloniki
Branch branch., 11 I.
Dragoumi & Mitropoleos, Thessaloniki
54110, Greece.
Telephone: 30
2310594557
Bank of Piraeus S.A., Vas. Irakleiou Branch
branch., 1 Vas. Irakleiou, Thessaloniki 54625, Greece.
Telephone: 30
2310557380
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TRADE PAYMENTS
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EXP. DATE PAYING RECORD HIGH
CREDIT NOW OWES PAST DUE TERM LAST SALE |
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7/8/2013 PROMPT/SLOW 29,273
0 0 30 7/5/2013 |
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1/7/2013 PROMPT/SLOW 29,273
29,273 29,273 30
1/6/2013 |
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3/6/2013 PROMPT/SLOW 29,273
29,273 0 30 3/5/2013 |
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1/5/2013 PROMPT/SLOW 11,322
0 0 30 1/4/2013 |
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1/3/2013 PROMPT/SLOW 11,322
0 0 30 1/12/2012 |
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15/2/2013 PROMPT/SLOW 11,322
8,825 8,825 30
15/1/2013 |
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31/1/2013 PROMPT 215 0 0 30 31/10/2012 |
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31/1/2013 PROMPT 215 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 430 430
0 30 31/12/2012 |
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31/1/2013 PROMPT 1,230 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 1,230 1,230 0
30 31/12/2012 |
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2/1/2013 PROMPT 11,322 8,825 0
30 2/12/2012 |
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31/12/2012 PROMPT
215 215 0 30 30/11/2012 |
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3/12/2012 PROMPT 11,322 9,980 0
30 3/11/2012 |
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20/11/2012 PROMPT
11,322 9,980 0
30 20/10/2012 |
MENEXOPOULOS, D., BROS & CO. O.E. General
Partnership, Thessaloniki, Greece
This is a dormant concern.
Year started: 1988.
This concern is related through common
shareholders.
I KAI P MENEXOPOULOI O.E. General Partnership,
Thessaloniki, Greece
This concern is related through common
shareholders.
GREEK CELLAR S.A. Societe Anonyme,
Thessaloniki, Greece
This is a dormant concern.
Year started: 1999.
Subject has a 13.5% share interest.
The subject has 2 branches/divisions:
49 Katouni, 54625, Thessaloniki, Greece. These
are owned premises.
Thessalonikis - Kalochoriou Rd (6th km),
57009, Kalochori, Greece. These are owned workshop premises.
Size: 3000 square metres.
Local Activity Code: 1039
Local Activity Code Type: STAKOD
Equivalent to: NACE 1
Manufactures canned fruits and specialties.
Wholesale of fresh fruits and vegetables.
Processing, imports and trade of nuts, dried
figs and fruit. Imports and trade of spices, legumes and herbs , Subject
distributes its goods mainly by wholesale.
Subject produces the following brand:
THE NUT STORE
Imports 75% from Bulgaria, China, France,
India, Iran, Italy, Moldova, Romania, Sri Lanka, Thailand, Turkey, Ukraine, U
K, U S A, Vietnam.
Normal importing terms are cash against
documents.
Exports 35% to Albania, Austria, Bulgaria,
Cyprus, Former Yugoslav Rep of Macedonia, France, Germany, Israel, Italy,
Montserrat, Romania, Serbia and Montenegro, U K
Normal exporting terms are cash against
documents.
Operates from owned warehouse, covering
approximately 170 square metres at heading address.
Registered address: At heading address.
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Fiscal Fiscal Fiscal |
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Dec
31,2009 Dec 31,2010 Dec 31,2011 |
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Turnover 22,718,367 24,580,248 21,876,910 |
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Pre-Tax
Profit
1,207,407 2,061,205 826,617 |
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Net
Worth
4,672,581 5,221,869 5,221,869 |
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Fixed
Assets
1,295,587 1,294,136 1,164,436 |
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Total
Assets
14,339,168 17,021,505 16,522,731 |
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Current
Assets 12,748,184 15,430,127 15,082,620 |
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Current
Liabilities
9,666,587 11,799,635 10,397,440 |
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Working
Capital
3,081,597 3,630,492 4,685,180 |
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Long
Term Debt
903,423 |
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Financial
Assets
259,987 260,016 260,016 |
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Intangibles 35,410 37,226 15,659 |
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Employees
23 |
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Net
Worth and Total Assets are tangible figures shown after the deduction of |
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intangible
assets. |
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RATIOS
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Dec
31,2009 Dec 31,2010 Dec 31,2011 |
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Current
Ratio (X)
1.32 1.31 1.45 |
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Solvency
Ratio (%)
206.88 225.97 216.41 |
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Fixed
Assets/Net Worth (%)
27.73 24.78 22.30 |
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Current
Liabs/Net Worth (%)
206.88 225.97 199.11 |
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Asset
Turnover (%)
158.44 144.41 132.41 |
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Sales
/ Net Working Cap (X)
7.37 6.77 4.67 |
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Assets
/ Sales (%)
63.12 69.25 75.53 |
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Profit
Margin (%) 5.32 8.39 3.78 |
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S/holders
Return (%)
25.84 39.47 15.83 |
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Return
On Assets (%)
8.42 12.11 5.00 |
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Sales
/ Employees
0.00 0.00 951,170.00 |
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Profit
/ Employees
0.00 0.00 35,939.87 |
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Abstract from individual fiscal balance sheet
as at Dec 31, 2011 |
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LIABILITIES ASSETS |
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Capital 4,000,000 Land/Buildings 2,024,563 |
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Misc
Reserves 1,221,869 Plant/Machinery 724,410 |
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Net
Worth 5,221,869 Depreciation 1,584,537 |
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Total Fixed Ass
1,164,436 |
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Misc
Def Liabs 903,423 |
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Shares in Group
44,727 |
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Misc
Fin'cl Ass 215,289 |
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Total
Fin'cl Ass 260,016 |
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Misc
Intangible 15,659 |
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Total Intangible 15,659 |
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CURRENT LIABILITIES: CURRENT ASSETS: |
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Trade
Creditors 5,560,542 Stock 2,934,614 |
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Short
term Loans 4,546,380 Trade Debtors 12,106,897 |
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Cash
41,110 |
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TOTAL
CURRENT 10,397,440 TOTAL CURRENT 15,082,621 |
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TOTAL
LIABS & NW 16,522,732 TOTAL ASSETS 16,522,732 |
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Profit & Loss Account from Jan
1, 2011 to Dec 31, 2011 |
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Net Sales 21,876,910 |
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Cost of Goods Sold 19,732,254 |
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Gross Profit 2,144,656 |
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Depreciation/Amortisation 37,050 |
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Misc Operating Charges 785,911 |
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Misc Operating Income 36,908 |
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Net Operating Income 1,358,603 |
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Misc Financial Income 11,540 |
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Total Financial Income 11,540 |
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Interest Payable 367,506 |
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Misc Financial Expenses 176,021 |
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Total Financial Expenses 543,527 |
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Profit Before Taxes 826,616 |
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Income Tax 88,178 |
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Profit After Tax 738,438 |
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Net Profit 738,438 |
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Dividends 667,846 |
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Retained Earnings at End -667,846 |
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According to the balance sheet as of Dec 31, 2011. |
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The below above financial figures are in Euro. |
Information
in this report was obtained from official and publicly available sources.
No
further information concerning the subject company was retrieved.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
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|
1 |
Rs.97.99 |
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Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
---- |
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.