MIRA INFORM REPORT
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Report Date : |
22.09.2013 |
IDENTIFICATION DETAILS
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Name : |
GRECO GRES INTERNACIONAL SL |
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Registered Office : |
Av/ Castilla-La Mancha, 1. Alameda De La Sagra, 45240 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
B45428406 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of wood, construction materials and sanitary equipment |
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No. of Employees : |
27 |
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 : |
Slow but correct |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Spain |
A2 |
A2 |
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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 |
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 and address
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Greco Gres Internacional Sl |
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Business Description
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Wholesale of wood, construction materials and sanitary equipment |
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Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
4663 - Wholesale of construction materials, hardware, plumbing and heating equipment and supplies |
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NACE Rev 2: |
4673 - Wholesale of wood, construction materials and sanitary equipment |
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NAICS 2012: |
4233 - Lumber and Other Construction Materials Merchant Wholesalers |
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UK SIC 2007: |
4673 - Wholesale of wood, construction materials and sanitary equipment |
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US SIC 1987: |
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Key Executives
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Registered No.(ESP): B45428406
1 - Profit & Loss Item
Exchange Rate: USD 1 = EUR 0.7744105
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7710325
Corporate Overview
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Charges |
22.8 |
18.9 |
22.5 |
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Supplies |
15.9 |
13.4 |
16.7 |
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Goods Consumption |
15.8 |
13.4 |
16.6 |
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Consumption of Raw Materials |
0.0 |
0.0 |
0.0 |
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Miscellaneous External Expenditures |
0.0 |
0.0 |
0.0 |
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Staff Costs |
1.9 |
1.6 |
1.7 |
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Wages and Salaries |
1.6 |
1.3 |
1.4 |
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Social Security Costs |
0.3 |
0.3 |
0.3 |
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Depreciation |
0.3 |
0.3 |
0.3 |
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Allowance for Trade Operations |
-0.1 |
-0.1 |
-0.1 |
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Losses from Unrecovered Receivables |
-0.1 |
-0.1 |
-0.1 |
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Other Operating Charges |
4.3 |
3.4 |
3.4 |
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External Services |
4.3 |
3.4 |
3.4 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Operating Benefits |
- |
0.1 |
1.2 |
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Financials and Similar Charges |
0.0 |
0.0 |
0.1 |
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Due to Liabilities With Group Companies |
0.0 |
0.0 |
0.1 |
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Changes in Financial Investment Provisions |
0.7 |
0.2 |
0.0 |
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Net Financial Income |
- |
- |
0.2 |
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Profit From Ordinary Activities |
- |
0.0 |
1.4 |
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Changes in Provisions for Assets |
0.2 |
0.0 |
- |
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Extraordinary Expenses |
0.0 |
0.0 |
0.1 |
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Profit Before Taxes |
- |
0.0 |
1.3 |
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Corporation Tax |
-0.3 |
0.0 |
0.4 |
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Financial Year Result (Profit) |
- |
- |
0.9 |
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Income |
22.1 |
18.9 |
23.5 |
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Net Total Sales |
21.8 |
18.5 |
23.1 |
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Sales |
21.3 |
18.1 |
22.7 |
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Rendering of Services |
0.5 |
0.4 |
0.6 |
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Sales Refunds |
- |
- |
-0.2 |
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Works Performed for Fixed Assets |
0.1 |
- |
- |
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Miscellaneous Operating Income |
0.1 |
0.2 |
0.1 |
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Grants |
0.1 |
0.2 |
0.1 |
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Operating Losses |
0.3 |
- |
- |
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Income From Equity Investment |
0.0 |
0.0 |
0.0 |
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In Group Companies |
0.0 |
0.0 |
0.0 |
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Income From Other Securities and Receivables |
0.0 |
0.0 |
0.1 |
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From Group Companies |
0.0 |
0.0 |
0.1 |
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Income From Miscellaneous Interests |
0.1 |
0.2 |
0.2 |
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Miscellaneous Interests |
0.1 |
0.2 |
0.2 |
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Gains from Exchange Rate |
0.0 |
0.0 |
0.0 |
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Negative Financial Results |
0.5 |
0.0 |
- |
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Ordinary Activities' Losses |
0.9 |
- |
- |
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Negative Extraordinary Results |
0.2 |
0.0 |
0.1 |
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Losses Before Taxes |
1.0 |
- |
- |
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Financial Year Result (Losses) |
0.7 |
0.0 |
- |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Software |
0.0 |
0.0 |
0.1 |
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Total Intangible Fixed Assets |
0.0 |
0.0 |
0.1 |
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Land and Construction |
0.2 |
0.5 |
0.5 |
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Technical Installations and Machinery |
0.1 |
0.1 |
0.1 |
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Other Installations, Tools, and Furniture |
0.0 |
0.0 |
0.0 |
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Tangible Fixed Assets Under Construction |
0.5 |
0.2 |
0.3 |
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Other Tangible Assets |
0.6 |
0.7 |
1.0 |
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Total Tangible Fixed Assets |
1.4 |
1.5 |
1.9 |
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Investments in Group Companies |
0.6 |
0.9 |
- |
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Long-Term Securities Portfolio |
1.1 |
1.6 |
0.3 |
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Other Receivables |
- |
- |
1.2 |
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Financial Investments |
1.7 |
2.5 |
1.5 |
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Total Fixed Assets |
3.1 |
4.0 |
3.4 |
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Goods for Resale |
0.5 |
0.4 |
- |
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Payments on Account |
0.0 |
0.0 |
0.0 |
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Total Stocks |
0.5 |
0.4 |
0.0 |
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Trade Debtors |
3.4 |
4.0 |
6.1 |
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Other Debtors |
0.1 |
0.0 |
0.0 |
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Public Bodies |
1.2 |
0.9 |
1.0 |
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Total Debtors |
4.7 |
4.9 |
7.2 |
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Other Receivables |
0.0 |
0.0 |
0.0 |
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Short-Term Guarantees and Deposits |
3.6 |
1.5 |
5.0 |
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Total Short-Term Investments |
3.6 |
1.5 |
5.0 |
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Cash |
1.2 |
1.4 |
1.2 |
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Prepayments and Accrued Income |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
10.1 |
8.3 |
13.4 |
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Total Assets |
13.2 |
12.3 |
16.8 |
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Legal Reserve |
0.0 |
0.0 |
0.0 |
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Miscellaneous Reserves |
7.8 |
8.2 |
8.7 |
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Capital Adjustment to Euros |
0.0 |
0.0 |
0.0 |
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Total Reserves |
7.8 |
8.2 |
8.7 |
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Prior Year Losses |
-0.1 |
-0.1 |
-1.0 |
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Profit or Loss Brought Forward |
-0.1 |
-0.1 |
-1.0 |
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Profit or Loss for the Financial Year |
-0.7 |
0.0 |
0.9 |
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Total Equity |
7.1 |
8.1 |
8.7 |
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Loans and Other Liabilities |
1.3 |
- |
- |
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Total Amounts Owed to Credit Institutions |
1.3 |
- |
- |
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Long-Term Payables to Public Bodies |
0.0 |
-0.1 |
-0.1 |
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Total Other Creditors |
0.0 |
-0.1 |
-0.1 |
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Total Long Term Liabilities |
1.3 |
-0.1 |
-0.1 |
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Loans and Other Liabilities |
0.0 |
- |
2.5 |
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Total Amounts Owed to Credit Institutions |
0.0 |
- |
2.5 |
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Amounts Owed to Group Companies |
3.3 |
3.4 |
4.8 |
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Total Short-Term Amounts Owed to Group and Associa |
3.3 |
3.4 |
4.8 |
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Advanced Payments from Customers |
0.4 |
0.1 |
0.0 |
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Amounts Owed for Purchases of Goods or Services |
0.9 |
0.7 |
0.8 |
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Total Trade Creditors |
1.2 |
0.8 |
0.8 |
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Public Bodies |
0.1 |
0.0 |
0.1 |
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Bills of Exchange Payable |
- |
- |
0.0 |
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Miscellaneous Debts |
0.1 |
- |
0.0 |
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Wages and Salaries Payable |
0.1 |
0.1 |
0.1 |
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Total Other Creditors |
0.2 |
0.1 |
0.2 |
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Total Short Term Creditors |
4.7 |
4.3 |
8.2 |
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Short Term Provisions for Liabilities and Charges |
0.1 |
- |
- |
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Total Liabilities and Equity |
13.2 |
12.3 |
16.8 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.24 |
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1 |
Rs.99.90 |
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Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
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Report
Prepared by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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.