MIRA INFORM REPORT
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Report Date : |
22.09.2013 |
IDENTIFICATION DETAILS
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Name : |
VETPHARMA ANIMAL HEALTH S.L |
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Registered Office : |
C/ Les Corts, 23. Barcelona, 08028 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
B63872345 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of pharmaceutical goods. |
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No. of Employees : |
09 |
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
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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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Vetpharma Animal Health S.L |
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Business Description
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Wholesale of pharmaceutical goods |
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Key Executives
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Registered No.(ESP): B63872345
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7682256
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7915698
Corporate Overview
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Executives Report
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Annual Profit &
Loss |
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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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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 |
26.8 |
27.8 |
28.1 |
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Staff Costs |
0.8 |
0.7 |
0.6 |
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Wages and Salaries |
0.6 |
0.5 |
0.5 |
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Social Security Costs |
0.2 |
0.2 |
0.1 |
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Other Operating Charges |
3.0 |
3.4 |
3.3 |
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Operating Benefits |
1.0 |
1.0 |
0.8 |
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Financials and Similar Charges |
0.2 |
0.1 |
0.3 |
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Due to Liabilities With Group Companies |
0.2 |
0.1 |
0.3 |
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Due to Other Liabilities |
0.0 |
0.0 |
0.0 |
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Exchange Losses |
0.0 |
- |
- |
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Net Financial Income |
- |
0.2 |
- |
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Profit From Ordinary Activities |
0.7 |
1.1 |
0.6 |
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Extraordinary Profit |
0.0 |
- |
0.0 |
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Profit Before Taxes |
0.7 |
1.1 |
0.6 |
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Corporation Tax |
0.0 |
0.3 |
0.2 |
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Financial Year Result (Profit) |
0.7 |
0.8 |
0.4 |
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Income |
27.5 |
28.6 |
28.5 |
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Net Total Sales |
27.2 |
28.0 |
28.1 |
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Gains from Exchange Rate |
- |
0.3 |
0.1 |
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Negative Financial Results |
0.3 |
- |
0.2 |
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Extraordinary Income |
0.0 |
- |
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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Financial Investments |
0.1 |
- |
- |
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Total Fixed Assets |
0.1 |
- |
- |
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Total Stocks |
2.3 |
2.5 |
2.8 |
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Total Debtors |
7.6 |
9.4 |
9.9 |
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Total Short-Term Investments |
1.9 |
- |
- |
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Cash |
0.0 |
0.4 |
0.4 |
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Prepayments and Accrued Income |
- |
0.0 |
- |
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Total Current Assets |
11.9 |
12.3 |
13.1 |
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Total Assets |
12.1 |
12.3 |
13.1 |
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Total Reserves |
0.7 |
0.2 |
0.2 |
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Profit or Loss Brought Forward |
- |
-0.2 |
-0.7 |
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Profit or Loss for the Financial Year |
0.7 |
0.8 |
0.4 |
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Total Equity |
1.4 |
0.8 |
-0.1 |
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Total Long Term Liabilities |
6.1 |
6.3 |
2.9 |
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Total Short Term Creditors |
4.5 |
5.3 |
10.3 |
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Total Liabilities and Equity |
12.1 |
12.3 |
13.1 |
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
|
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.