MIRA INFORM REPORT
|
Report Date : |
03.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
WEG EQUIPAMENTOS ELETRICOS SA |
|
|
|
|
Registered Office : |
Avenida Prefeito Waldemar Grubba,3300 1°. Andar - Vila Lalau, Zip Code 89256-900 - Jaraguá Do Sul/Sc |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.10.2004 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacturer of electric motors, generators and transformers |
|
|
|
|
No. of Employees : |
19800 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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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) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
brazil ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural, mining,
manufacturing, and service sectors, Brazil's economy outweighs that of all
other South American countries, and Brazil is expanding its presence in world
markets. Since 2003, Brazil has steadily improved its macroeconomic stability,
building up foreign reserves, and reducing its debt profile by shifting its
debt burden toward real denominated and domestically held instruments. In 2008,
Brazil became a net external creditor and two ratings agencies awarded
investment grade status to its debt. After strong growth in 2007 and 2008, the
onset of the global financial crisis hit Brazil in 2008. Brazil experienced two
quarters of recession, as global demand for Brazil's commodity-based exports
dwindled and external credit dried up. However, Brazil was one of the first
emerging markets to begin a recovery. In 2010, consumer and investor confidence
revived and GDP growth reached 7.5%, the highest growth rate in the past 25
years. Rising inflation led the authorities to take measures to cool the
economy; these actions and the deteriorating international economic situation
slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic
lows and Brazil's traditionally high level of income inequality has declined
for each of the last 14 years. Brazil's historically high interest rates have
made it an attractive destination for foreign investors. Large capital inflows
over the past several years have contributed to the appreciation of the
currency, hurting the competitiveness of Brazilian manufacturing and leading
the government to intervene in foreign exchange markets and raise taxes on some
foreign capital inflows. President Dilma ROUSSEFF has retained the previous
administration's commitment to inflation targeting by the central bank, a
floating exchange rate, and fiscal restraint. In an effort to boost growth, in
2012 the administration implemented a somewhat more expansionary monetary
policy that has failed to stimulate much growth.
|
Source
: CIA |
company
name
WEG EQUIPAMENTOS
ELETRICOS S/A
company ADDRESSES
|
MAIN ADDRESS: |
AVENIDA PREFEITO WALDEMAR GRUBBA,3300 1°. ANDAR - VILA LALAU |
|
ZIP CODE/CITY: |
89256-900 - JARAGUÁ DO SUL/SC |
|
|
|
|
PHONE: |
47 3276-4277 |
|
FAX: |
47 3276-4000 |
|
E-MAIL: |
|
|
WEB SITE: |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA DR. PEDRO ZIMMERMANN,6751 - ITOUPAVA CENTRAL |
|
ZIP CODE/CITY: |
89068-001 BLUMENAU/SC |
|
PHONE: |
47 3276-4000 |
|
FAX: |
47 3337-1090 |
|
CNPJ: |
07.175.725/0014-84 |
|
STATE REGISTER: |
255.085.672 |
|
|
|
|
ADDRESS: |
AVENIDA PREFEITO WALDEMAR GRUBBA,3000 - VILA LALAU |
|
ZIP CODE/CITY: |
89256-900 JARAGUÁ DO SUL/SC |
|
PHONE: |
47 3276-4000 |
|
FAX: |
47 3276-4040 |
|
CNPJ: |
07.175.725/0010-50 |
|
STATE REGISTER: |
255.083.939 |
|
|
|
|
ADDRESS: |
RODOVIA RS,20 KM 6,5 - NEOPOLIS |
|
ZIP CODE/CITY: |
GRAVATAI/RS |
|
|
|
|
ADDRESS: |
RUA VENANCIO DA SILVA PORTO,399 INDUSTRIAL PARK I |
|
ZIP CODE/CITY: |
89252-230 JARAGUA DO SUL/SC |
|
PHONE: |
47 3276-4000 |
|
FURTHER TO THE ABOVE THE COMPANY ALSO HAS OTHER BRANCHES LOCATED IN:
ITAJAI, MACAE, GRAVATAI, HORTOLANDIA, RIBEIRAO PRETO, SAO BERNARDO DO CAMPO,
SAO PAULO. |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF ELECTRIC MOTORS, GENERATORS AND TRANSFORMERS |
|
LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
04/10/2004 |
|
REGISTER DATE: |
04/10/2004 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
07.175.725/0001-60 |
|
STATE REGISTER: |
EXEMPT |
|
|
|
|
SHARE CAPITAL: |
R$ 1.500.000.000,00 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
HARRY SCHMELZER JUNIOR |
PRESIDENT DIRECTOR |
|
SÉRGIO LUIZ SILVA SCHWARTZ |
VICE-PRESIDENT DIRECTOR |
|
ANTONIO CÉSAR DA SILVA |
DIRECTOR |
|
ALFREDO ANGELO MORETTI |
DIRECTOR |
|
WILSON JOSE WSTZTO |
DIRECTOR |
|
SIEGFRIED KREUTZFELD |
DIRECTOR |
|
CARLOS DIETHER PRINZ |
DIRECTOR |
|
UMBERTO GOBBATO |
DIRECTOR |
|
EDUARDO DE NOBREGA |
DIRECTOR |
|
LAURENCE BELTRAO GOMES |
DIRECTOR |
|
ALDO FELIPE MANKE |
DIRECTOR |
|
SINESIO TENFEN |
DIRECTOR |
|
HELCIO MAKOTO MORIKOSSI |
DIRECTOR |
|
LUIS ALBERTO TIEFENSEE |
DIRECTOR |
|
LUIS GUSTAVO LOPES IENSEN |
DIRECTOR |
|
MILTON OSCAR CASTELLA |
DIRECTOR |
|
REINALDO STUART JUNIOR |
DIRECTOR |
|
ALESSANDRO AUGUSTO HERNANDEZ |
DIRECTOR |
|
FERNANDO CARDOSO GARCIA |
DIRECTOR |
|
WANDAIR JOSE GARCIA |
DIRECTOR |
|
HILTON JOSE DA VEIGA FARIA |
DIRECTOR |
|
NEWTON MASSAO IDEMORI |
DIRECTOR |
AUTHORIZED
USE OF SIGNATURE
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
WEG S/A |
99,9999999% |
|
WPA PARTICIPAÇŐES E SERVIÇOS S/A |
0,0000001% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
WEG INDUSTRIAS S.A. |
|
|
WEG EXPORTADORA S.A. |
|
|
WEG EQUIPAMIENTOS ELECTRICOS S.A. (ARGENTINA) |
|
|
WEG GERMANY GMBH |
|
|
WEG AUSTRALIA PTY. LTD. |
|
|
WEG EUROPE S.A. (BÉLGICA) |
|
|
WEG CHILE |
|
|
WEG NANTONG ELETRIC MOTORS (CHINA) |
|
|
WEG COLOMBIA |
|
|
WEG IBERIA (ESPANHA) |
|
|
WEG INDIA |
|
|
WEG ELECTRIC MOTORS CORP. (EUA) |
|
|
WEG FRANCE |
|
|
WEG ELECTRIC MOTORS (U.K.) LTD |
|
|
WEG ITALIA S.R.L. |
|
|
WEG MEXICO, S.A. DE C.V. |
|
|
WEG EURO INDUSTRIA ELECTRICA S.A. |
|
|
WEG JAPAN CO., LTD. |
|
|
WEG SCANDINAVIA AB (SUECIA) |
|
|
WEG INDUSTRIAS VENEZUELA, C.A. |
|
|
HIDRÁULICA INDUSTRIAL S/A INDUSTRIA E COMERCIO |
|
|
WEG AMAZONIA S/A |
|
|
SENSORES ELETRONICOS INSTRUTECH LTDA. |
|
|
LOGOTECH SENSORES ELETRONICOS INDUSTRIA |
|
|
WEG LINHARES EQUIPAMENTOS ELETRONICOS LTDA |
|
|
CONSORCIO AREVA T&D/SUCESSO/WEG |
|
|
CONSORCIO CAMARGO CORREA, WEG E SENIOR |
|
|
LANCHONETE SANTOS REIS LTDA. |
|
|
AUTO POSTO BUCAREIN LTDA |
|
|
ROJEES ADMINISTRAÇĂO E PARTICIPAÇĂO LTDA |
|
|
URBIS EMPREENDIMENTOS LTDA. |
|
|
CAPITULO JOINVILLE AMORC |
|
COMPANY'S BACKGROUND
|
THE SUBJECT WAS ESTABLISHED ON APRIL 10, 2004 AS WEG MAQUINAS SĂO
BERNARDO LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. IN NOVEMBER 2005
THE COMPANY ADOPTED THE ABOVE-MENTIONED NAME AND CONCOMITANTLY ITS
HEADQUARTERS WAS RELOCATED FORM THE CITY OF SĂO BERNARDO DO CAMPO TO THE
ADDRESS AT THE CAPTION. ON JANUARY 02, 2006 THE COMPANY WEG INDUSTRIAS THROUGH GENERAL MEETING
THE PARTIAL SPLITTING OF THE UNITIES RESPONSIBLE FOR INDUSTRIAL OPERATION OF
ELECTRIC/ELECTRONIC EQUIPMENTS FROM ITS NET EQUITY. ALSO AT THIS SAME DATE THE SUBJECT THROUGH GENERAL MEETING TO MERGE
INTO ITS NET EQUITY THE SPLIT PART FROM WEG INDUSTRIAS, REPRESENTED BY ASSETS
AND LIABILITIES OF THE UNITIES WEG MOTORES, WEG MÁQUINAS, WEG
TRANSFORMADORES, WEG ACIONAMENTOS E WEG AUTOMAÇĂO. "WEG MOTOR" IS ONE OF THE SUBJECT'S DIVISIONS. ABOUT THE WEG GROUP: THIS WAS WEG'S GREATEST ASSET IN 1961 WHEN WERNER RICARDO VOIGT, EGGON
JOĂO DA SILVA AND GERALDO WERNINGHAUS STARTED TO PRODUCE ELECTRIC MOTORS IN
JARAGUÁ DO SUL. AT THAT TIME, TO PRODUCE ELECTRIC MOTORS IN A SMALL TOWN IN THE
SOUTHERN STATE OF SANTA CATARINA LOOKED LIKE AN IDEA WITHOUT MAJOR PURPOSES.
THE FIRST YEARS WERE MARKED BY HARD WORK IN ORDER TO TURN WEG'S NAME KNOWN
ALONG WITH OFFERING RELIABLE QUALITY PRODUCTS. IN SPITE OF THAT, SIGNIFICANT GROWTH WAS QUICKLY NOTICED. WEG MOTOR
PRODUCTION JUMPED FROM 146 PIECES IN 1961 TO 4085 PIECES IN THE FOLLOWING
YEAR. DEDICATED INITIALLY TO PRODUCTION OF ELECTRIC MOTORS, THE COMPANY
STARTED EXPANDING ITS ACTIVITIES IN THE 80'S WITH THE PRODUCTION OF
GENERATORS, ELECTRICAL COMPONENTS, INDUSTRIAL AUTOMATION PRODUCTS, POWER AND
DISTRIBUTION TRANSFORMERS, LIQUID AND POWDER PAINTS AND ELECTROINSULATING
VARNISHES. TODAY WEG BECAME THE LARGEST LATIN AMERICAN ELECTRIC MOTORS MANUFACTURER
AND IS PRESENT IN OVER 100 COUNTRIES IN THE FIVE CONTINENTS. ADDITIONALLY,
THE COMPANY COUNTS ON STATE-OF-THE-ART MANUFACTURING PROCESSES ASSOCIATED
WITH THE MOST DEMANDING TOTAL QUALITY PROGRAMS. MOSTLY IMPORTANT, THE COMPANY
TODAY HAS THE SAME ASSET PHILOSOPHY AS IN 1961, WHICH IS BASED ON WORK AND
DISCIPLINE, MULTIPLIED BY EACH OF ITS EMPLOYEES COMMITTED TO ULTIMATE
CUSTOMER SATISFACTION. IN 2009 THE SUBJECT TOOK OVER TRAFO EQUIPAMENTOS ELETRICOS S/A, WEG
ITAJAÍ EQUIPAMENTOS ELÉTRICOS LTDA CNPJ 09.109.119/0001-71, AND WEG AUTOMAÇĂO
S/A CNPJ 08.520.338/0001-86, WEG EXPORTADORA SA CNPJ 04.719.045/0001-71. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
2 |
MUNICIPAL LAWSUITS |
22/10/12 |
2Ş VARA DE SP-HORTOLANDIA |
FINANCIAL INFORMATION
|
GENERAL BALANCE SHEETS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
CASH AND BANKS |
1.382.960 |
2.168.357 |
28.130 |
|
INVESTMENTS |
|
|
1.591.140 |
|
CLIENTS |
823.046 |
781.345 |
717.296 |
|
INVENTORY |
478.384 |
711.719 |
560.623 |
|
DIVIDENDS RECEIVABLES |
236 |
3.961 |
3.705 |
|
RECOVERABLE TAXES |
74.325 |
80.336 |
49.725 |
|
OTHER CREDITS |
76.560 |
51.894 |
74.323 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2.835.511 |
3.797.612 |
3.024.942 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INTERCOMPANY CREDITS |
34.370 |
54.414 |
19.578 |
|
JUDICIAL DEPOSITS |
12.437 |
9.267 |
7.897 |
|
DEFERRED TAXES |
|
67.333 |
57.190 |
|
RECOVERABLE TAXES |
7.613 |
7.439 |
25.676 |
|
OTHER CREDITS |
151 |
220 |
1.811 |
|
INVESTMENTS |
|
40.775 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
54.571 |
179.448 |
112.152 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
1.223.430 |
929.124 |
704.933 |
|
FIXED ASSETS |
1.483.133 |
1.603.335 |
1.647.592 |
|
INTANGIBLE |
426.462 |
256.522 |
106.969 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
3.133.025 |
2.788.981 |
2.459.494 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
6.023.107 |
6.766.041 |
5.596.588 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
SUPPLIERS |
160.101 |
143.551 |
139.350 |
|
LOANS AND FINANCING |
1.139.477 |
1.193.963 |
752.564 |
|
TRIBUTARY OBLIGATIONS |
124.705 |
148.596 |
132.646 |
|
INCOME TAX/SOCIAL CONTRIBUTION |
54.841 |
30.845 |
36.410 |
|
DIVIDENDS |
48.718 |
50.631 |
51.500 |
|
ADVANCE FROM CLIENTS |
197.954 |
177.550 |
195.210 |
|
PROFIT SHARING |
16.678 |
15.020 |
14.671 |
|
OTHER DEBTS |
119.528 |
98.251 |
60.892 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1.862.002 |
1.858.407 |
1.383.243 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
965.161 |
1.691.704 |
1.271.087 |
|
TRIBUTARY OBLIGATIONS |
42.606 |
53.059 |
47.319 |
|
RELATED COMPANIES |
135 |
130 |
417 |
|
PROVISION FOR CONTINGENCIES |
133.675 |
101.099 |
90.784 |
|
DEFERRED TAXES |
215.590 |
321.132 |
317.249 |
|
OTHER |
64.549 |
45.655 |
12.998 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
1.421.716 |
2.212.779 |
1.739.854 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
1.500.000 |
1.268.780 |
1.268.780 |
|
CAPITAL RESERVES |
-53.912 |
1.548 |
567 |
|
OTHER COMPREHENSIVE INCOME |
517.641 |
521.500 |
539.191 |
|
DIVIDENDS |
145.500 |
130.000 |
100.000 |
|
PROFIT RESERVES |
630.160 |
773.027 |
564.953 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
2.739.389 |
2.694.855 |
2.473.491 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
6.023.107 |
6.766.041 |
5.596.588 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
GROSS SALES |
4.436.474 |
4.673.977 |
|
|
(-) TAXES ON SALES |
632.724 |
760.312 |
|
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
3.803.750 |
3.913.665 |
3.463.440 |
|
(-) COST OF SOLD GOODS |
2.742.542 |
2.904.892 |
2.499.723 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
1.061.208 |
1.008.773 |
963.717 |
|
OPERATING REVENUE (EXPENSE) |
-350.641 |
-422.468 |
-456.830 |
|
FINANCIAL REVENUE(EXPENSE) |
223 |
34.369 |
99.224 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
710.790 |
620.674 |
606.111 |
|
CONTRIBUTION/INCOME TAX |
-136.261 |
-118.232 |
-135.815 |
|
PROFIT SHARING |
|
|
-3.250 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
574.529 |
502.442 |
467.046 |
|
RATIOS: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
QUICK RATIO |
1,27 |
|
1,66 |
|
1,78 |
|
|
CURRENT RATIO |
1,52 |
|
2,04 |
|
2,19 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4,62 |
TIMES |
5,01 |
TIMES |
4,83 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
77,90 |
DAYS |
71,87 |
DAYS |
74,56 |
DAYS |
|
INVENTORY TURNOVER |
5,73 |
TIMES |
4,08 |
TIMES |
4,46 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
21,02 |
DAYS |
17,79 |
DAYS |
20,07 |
DAYS |
|
RETURN ON ASSETS |
,63 |
TIMES |
,58 |
TIMES |
,62 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,39 |
TIMES |
1,45 |
TIMES |
1,40 |
TIMES |
|
NET WORTH TIE-UP |
,54 |
|
,60 |
|
,67 |
|
|
INDEBTEDNESS |
1,20 |
|
1,51 |
|
1,26 |
|
|
EQUITY RATIO |
45,48 |
% |
39,83 |
% |
44,20 |
% |
|
WORKING CAPITAL RATIO |
52,28 |
% |
104,35 |
% |
118,68 |
% |
|
GENERAL SOLVENCY |
1,83 |
|
1,66 |
|
1,79 |
|
|
RETURN ON NET EQUITY |
20,97 |
% |
18,64 |
% |
18,88 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
15,10 |
% |
12,84 |
% |
13,49 |
% |
|
GROSS PROFIT MARGIN |
27,90 |
% |
25,78 |
% |
27,83 |
% |
|
OPERATIONAL RESULT |
18,69 |
% |
15,86 |
% |
17,50 |
% |
|
SALES TURNOVER ON LIABILITIES |
2,04 |
TIMES |
2,11 |
TIMES |
2,50 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,18 |
- OFFICIAL RATE ON 27/06/2013 |
|
US$ 1,00 = R$ 2,04 |
- OFFICIAL RATE
ON 31/12/2012 |
|
US$ 1,00 = R$ 1,87 |
- OFFICIAL RATE ON 31/12/2011 |
|
US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW A FAIR FINANCIAL STANDING. DESPITE THE HIGH
LEVEL OF INDEBTEDNESS IT SHOWS GOOD LIQUIDITY RATIOS WITH AND WORKING
CAPITAL. IN ADDITION IT SHOWS DROP IN SALES BUT MADE HIGH PROFIT. IT IS WORTH COMMENTING THAT THE CONCERN HAS HUGE FINANCIAL POWER AND
IS NOT LIKELY TO FACE FINANCIAL PROBLEMS AT ALL. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 603.513.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 709.898,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 1.846.475.000,00
INSURANCE
|
COVERAGE: |
MATERIAL DAMAGE - WG GROUP AND LOSS OF INCOME |
|
VALUE: |
US$ 60.000.000,00 |
|
|
|
|
COVERAGE: |
MATERIAL DAMAGE - WG GROUP AND LOSS OF INCOME |
|
VALUE: |
US$ 62.967.967,16 |
|
|
|
|
COVERAGE: |
WINDSTORM, FLOOD, CYCLONE, TORNADO, HAILSTORM, VEHICLES |
|
VALUE: |
US$ 30.000.000,00 |
|
|
|
|
COVERAGE: |
EARTHQUAKE IN CHILE MEXICO, INDIA, PORTUGAL AND USA |
|
VALUE: |
US$ 35.000.000,00 |
|
|
|
|
COVERAGE: |
AIRPLANE CRASH |
|
VALUE: |
US$ 35.000.000,00 |
|
|
|
|
COVERAGE: |
ELECTRICAL DAMAGE |
|
VALUE: |
US$ 5.000.000,00 |
|
|
|
|
COVERAGE: |
MATERIAL DAMAGE, BOILER EXPLOSION |
|
VALUE: |
US$ 10.000.000,00 |
|
|
|
|
COVERAGE: |
ELECTRICAL DAMAGE (RENTAL AND RESETTING) |
|
VALUE: |
US$ 1.000.000,00 |
|
|
|
|
COVERAGE: |
EMPTYINGS |
|
VALUE: |
US$ 1.000.000,00 |
|
|
|
|
COVERAGE: |
EXPERT FEES |
|
VALUE: |
US$ 1.000.000,00 |
|
|
|
|
COVERAGE: |
EXTRAORDINARY EXPENSES, ADDITIONAL EXPENSES |
|
VALUE: |
US$ 1.000.000,00 |
|
|
|
|
COVERAGE: |
RECOMPOSITION OF AND DOCUMENTS |
|
VALUE: |
US$ 1.000.000,00 |
|
|
|
|
COVERAGE: |
ACCOUNTS RECEIVABLE |
|
VALUE: |
US$ 5.000.000,00 |
|
|
|
|
COVERAGE: |
ERRORS AND OMISSIONS |
|
VALUE: |
US$ 5.000.000,00 |
|
|
|
|
COVERAGE: |
ADDITIONS, EXCLUSION OF GOODS (NOT INTENDED FOR VARIATION IN
INVENTORIES) |
|
VALUE: |
US$ 5.000.000,00 |
|
|
|
|
COVERAGE: |
ENGINEERING WORKS |
|
VALUE: |
US$ 5.000.000,00 |
|
|
|
|
COVERAGE: |
THIRD PARTY GOODS (EQUIPMENTS SUPPORT) |
|
VALUE: |
US$ 2.000.000,00 |
|
|
|
|
COVERAGE: |
THIRD PARTY GOODS (GOODS TO BE DELIVERED) |
|
VALUE: |
US$ 20.000.000,00 |
|
|
|
|
COVERAGE: |
MOBILE LABORATORY |
|
VALUE: |
US$ 556.786,55 |
|
|
|
|
COVERAGE: |
WORK DAMAGE |
|
VALUE: |
US$ 6.000.000,00 |
|
|
|
|
COVERAGE: |
MOBILE EQUIPMENTS |
|
VALUE: |
US$ 1.000.000,00 |
|
|
|
|
COVERAGE: |
RAW MATERIAL THEFT |
|
VALUE: |
US$ 1.000.000,00 |
BANKING REFERENCES
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO BRADESCO S/A |
2727-8 |
JOINVILLE/SC |
|
HSBC BANK BRASIL S.A. |
0645 |
CURITIBA/PR |
|
BANCO ITAÚ S/A |
0862 |
CURITIBA/PR |
|
BANCO SANTANDER (BRASIL) S/A |
2271 |
PORTO ALEGRE/RS |
|
BANCO ITAU S/A |
0453 |
CURITIBA/PR |
|
BANCO DO BRASIL S/A |
3125-9 |
JOINVILLE/SC |
|
BANCO VOTORANTIM S/A |
0001-9 |
CURITIBA/PR |
|
BANCO DO BRASIL S/A |
3400-2 |
SAO PAULO/SP |
|
HSBC BANK BRASIL S/A |
0862 |
JARAGUA DO SUL/SC |
|
BANCO SAFRA S/A |
0009 |
CURTIBA/PR |
|
REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
ACTIVITIES COMMENTS
|
PRODUCTION, INDUSTRIALIZATION, SALE, RENDERING OF SERVICES, RESEARCH,
DEVELOPMENT, EXPORT, IMPORT, REPRESENTATION, RENTING OF ELECTRIC MOTORS,
ELECTRIC MACHINES, INDUSTRIAL ELECTRIC COMPONENTS, PROCESSES SYSTEMS,
MANUFACTURING AUTOMATION, SPEED VARIATION SYSTEMS, SWITCHBOARDS, POWER AND
DISTRIBUTION TRANSFORMERS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
CHINA. KOREA, GERMANY, JAPAN AND UNITED STATES. |
EXPORTS TO:
|
SOUTH AFRICA, CANADA, INDIA, PERU, AUSTRIA, SWITZERLAND, PARAGUAY AND
SAUDI ARABIA. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
CITY: |
|
|
ELECTROLUX DO BRASIL S.A. |
SĂO PAULO/SP |
|
|
FRANKLIN ELECTRIC IN |
JOINVILLE/SC |
|
|
IMBIL IND. E MANUT BO |
ITAPIRA/SP |
|
|
KSB BOMBAS HIDRÁULICAS S.A. |
VÁRZEA PAULISTA/SP |
|
|
STEMAC S/A GRUPOS GE |
PORTO ALEGRE/RS |
|
|
SULZER BRASIL S/A |
JUNDIAÍ/SP |
|
|
WEG LINHARES EQUIPAMENTOS |
LINHAES/ES |
|
|
WHIRLPOOL S/A |
RIO CLARO/SP |
|
|
FOREIGN CLIENTS: |
COUNTRY: |
|
|
BUSINESS TRIBUNE EST |
SAUDI ARABIA |
|
|
GOLD RESERVE INC |
CANADA |
|
|
HIDROSTAL S/A |
PERU |
|
|
HS-ANTRIEBSSYSTEME A |
|
SWITZERLAND |
|
ITAIPU BINACIONA |
PARAGUAY |
|
|
J. T. BLAKEMORE |
SOUTH AFRICA |
|
|
KIRLOSKAR BROTHERS LIMITED |
INDIA |
|
|
LENZE OPERATION AUS |
AUSTRIA |
|
|
V. J. PAMENSKY |
CANADA |
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 19800 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A WELL-ESTABLISHED SUBSIDIARY OF THE WEG GROUP, WHICH
IS ONE OF THE BRAZIL'S LARGEST INDUSTRIAL GROUPS. SO FAR IT HAS A CLEAR TRADE
HISTORY AND VERY GOOD PAYMENT BEHAVIOUR. THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE
RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID.
NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY'S
TRADE REPUTATION. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
CITY: |
|
|
ABB LTDA |
OSASCO/SP |
|
|
AÇOS ESPECIAIS ITABIRA - ACESITA |
TIMÓTEO/MG |
31 3235-4287 |
|
APERAM INOX AMERICA DO SUL S/A |
BELO HORIZONTE/MG |
|
|
BOMBAS LEĂO S/A |
|
17 3361-1101 |
|
BUNGE ALIM S/A |
|
|
|
CARAÍBA METAIS S.A. |
DIAS D ÁVILA/BA |
|
|
CHS COOLERS AND HEATERS SYSTEM IND. COM. LTDA |
|
11 4043-0122 |
|
CIA. SIDERÚRGICA NACIONAL - CSN |
VOLTA REDONDA/RJ |
|
|
CIA. SIDERÚRGICA PAULISTA - COSIPA |
CUBATĂO/SP |
|
|
FORTE 3 IND. COM. PLASTICOS LTDA |
|
54 3027-3245 |
|
IBRAPE IND. BRASILEIRA DE METAIS /SA |
VITORIA/ES |
|
|
MARISOL IND VEST LTDA |
|
|
|
NSK DO BRASIL |
SUZANO/SP |
|
|
PAFER COML LTDA |
|
|
|
PARANAPANEMA S/A |
DIAS D´AVILA/BA |
|
|
TRENDBANK PROMOTORA NEGOCIOS LTDA |
|
|
|
USINAS SID. GERAIS S/A - USIMINAS |
IPATINGA/MG |
|
|
USINAS SID. M. GERAIS S.A.- |
IPATINGA/MG |
|
|
YOKOGAWA AMERICA DO SUL LTDA |
|
|
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
|
|
BAOSTEEL |
CHINA |
|
|
CHINA STEEL CORPORATION |
CHINA |
|
|
DUPONT |
UNITED STATES |
|
|
INFENEON TECHONOGIES INDUSTRIAL PO |
GERMANY |
|
|
MASCHINENFABRIK REINHAUSEN GMBH |
GERMANY |
|
|
NKS |
JAPAN |
|
|
NSK |
JAPAN |
|
|
NTN |
JAPAN |
|
|
POSCO |
KOREA |
|
|
SCHULER PRESSEN |
GERMANY |
|
|
SKF FRANCE |
FRANCE |
|
|
SKF GMBH |
GERMANY |
|
|
PAYMENT HISTORY: |
|
50 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 33.145.063,00 |
|
|
|
AMOUNT OF INVOICES PAID: 5080 |
|
TOTAL OF PROMPT PAYMENTS: 98% |
|
TOTAL OF DELAYED PAYMENTS: 2% |
|
|
|
HIGHEST INVOICE: R$ 1.554.000,00 |
|
HIGHEST CREDIT: R$ 1.372.051,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 60 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL
AMOUNT: |
|
DUE WITHIN 30 DAYS |
13 |
468 |
R$ 392.670,93 |
|
DUE WITHIN 60 DAYS |
6 |
37 |
R$ 1.355.404,58 |
|
DUE WITHIN 90 DAYS |
16 |
22 |
R$ 1.641.864,85 |
|
DUE WITHIN 91 DAYS |
1 |
50 |
R$ 2.764.570,57 |
FINAL OPINION
|
THE SUBJECT IS A NEW BUT WELL-ESTABLISHED SUBSIDIARY OF THE WEG GROUP IN
BUSINESS SINCE 2004 AND ALREADY SHOWING HIGH SCALE OF ACTIVITIES. UP TO DATE
IT HAS A GOOD FINANCIAL STANDING, CLEAR TRADE HISTORY AND VERY GOOD PAYMENT
BEHAVIOR. BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH. |
|
|
|
|
|
|
|
|
|
BALANCE SHEET ANALYSIS |
FIGURES ARE IN THOUSANDS
OF REAIS |
|
|
|
||
|
|
31/12/2012 |
|
31/12/2011 |
|
31/12/2010 |
|
|
ASSETS |
|
% |
|
% |
|
% |
|
Current Assets |
47.08 |
$ 3,797,612 |
56.13 |
$
3,024,942 |
54.05 |
|
|
Fixed Assets |
$ 3,133,025 |
52.02 |
$ 2,788,981 |
41.22 |
$
2,459,494 |
43.95 |
|
TOTAL ASSETS |
$ 6,023,107 |
100.00 |
$ 6,766,041 |
100.00 |
$
5,596,588 |
100.00 |
|
LIABILITIES |
|
|
|
|
|
|
|
Current Liabilities |
$ 1,862,002 |
30.91 |
$ 1,858,407 |
27.47 |
$
1,383,243 |
24.72 |
|
Long-Term Liabilities |
$ 1,421,716 |
23.60 |
$ 2,212,779 |
32.70 |
$
1,739,854 |
31.09 |
|
TOTAL LIABILITIES |
$ 3,283,718 |
54.52 |
$ 4,071,186 |
60.17 |
$
3,123,097 |
55.80 |
|
Deferred Income |
$ - |
0.00 |
$ - |
0.00 |
$ -
|
0.00 |
|
Net Equity |
$ 2,739,389 |
45.48 |
$ 2,694,855 |
39.83 |
$
2,473,491 |
44.20 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 6,023,107 |
100.00 |
$ 6,766,041 |
100.00 |
$ 5,596,588 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
|
|
|
Net Sales |
$ 3,803,750 |
100.00 |
$ 3,913,665 |
100.00 |
$
3,463,440 |
100.00 |
|
Costs |
$ 2,742,542 |
72.10 |
$ 2,904,892 |
74.22 |
$
2,499,723 |
72.17 |
|
Gross Profit |
$ 1,061,208 |
27.90 |
$ 1,008,773 |
25.78 |
$
963,717 |
27.83 |
|
Operating expenses |
$ (350,641) |
-9.22 |
$ (422,468) |
-10.79 |
$
(456,830) |
-13.19 |
|
operational Result |
$ 710,790 |
18.69 |
$ 620,674 |
15.86 |
$
606,111 |
17.50 |
|
Net Profit (loss) |
$ 574,529 |
15.10 |
$ 502,442 |
12.84 |
$
467,046 |
13.49 |
|
COMPLEMENTARY DATA |
|
|
|
|
|
|
|
Inventory |
$ 478,384 |
|
$ 711,719 |
|
$
560,623 |
|
|
Accounts receivable |
$ 823,046 |
|
$ 781,345 |
|
$
717,296 |
|
|
Accounts Payable |
$ 160,101 |
|
$ 143,551 |
|
$
139,350 |
|
|
Property, plant and equipment |
$ 1,483,133 |
|
$ 1,603,335 |
|
$
1,647,592 |
|
|
Purchases |
$ 3,133,025 |
|
$ 2,788,981 |
|
$
2,459,494 |
|
|
Financial Expenses |
$ 223 |
|
$ 34,369 |
|
$ 99,224 |
|
|
Foreign Currency Assets |
|
|
|
|
|
|
|
Foreign Currency Liabilities |
|
|
|
|
|
|
|
Working Capital |
$ 973,509 |
|
$ 1,939,205 |
|
$
1,641,699 |
|
|
RATIOS: |
|
|
|
|
|
|
|
QUICK RATIO |
1.27 |
|
1.66 |
|
1.78 |
|
|
CURRENT RATIO |
1.52 |
|
2.04 |
|
2.19 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4.62 |
times |
5.01 |
times |
4.83 |
times |
|
DAYS' SALES IN RECEIVABLES |
77.90 |
days |
71.87 |
days |
74.56 |
days |
|
INVENTORY TURNOVER |
5.73 |
times |
4.08 |
times |
4.46 |
times |
|
21.02 |
days |
17.79 |
days |
20.07 |
days |
|
|
RETURN ON ASSETS |
0.63 |
times |
0.58 |
times |
0.62 |
times |
|
SALES TURNOVER ON NET EQUIY |
1.39 |
times |
1.45 |
times |
1.40 |
times |
|
NET WORTH TIE-UP |
0.54 |
|
0.59 |
|
0.67 |
|
|
ENDEBTEDNESS |
1.20 |
|
1.51 |
|
1.26 |
|
|
EQUITY RATIO |
45.48 |
% |
39.83 |
% |
44.20 |
% |
|
WORKING CAPITAL RATIO |
52.28 |
% |
104.35 |
% |
118.68 |
% |
|
GENERAL SOLVENCY |
1.83 |
|
1.66 |
|
1.79 |
|
|
RETURN ON NET EQUITY |
20.97 |
% |
18.64 |
% |
18.88 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
15.10 |
% |
12.84 |
% |
13.49 |
% |
|
GROSS PROFIT MARGIN |
27.90 |
% |
25.78 |
% |
27.83 |
% |
|
OPERATIONAL RESULT |
18.69 |
% |
15.86 |
% |
17.50 |
% |
|
SALES TURNOVER ON LIABILITIES |
2.04 |
times |
2.11 |
times |
2.50 |
times |
|
FOREIGN CURRENCY ON ASSETS |
- |
% |
- |
% |
- |
% |
|
FOREIGN CURRENCY ON LIABILITIES |
- |
% |
- |
% |
- |
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.86 |
|
UK Pound |
1 |
Rs.102.50 |
|
Euro |
1 |
Rs.87.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.