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Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AZELIS ESPAÑA SA |
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Registered Office : |
Pl. De La Pau, S/N Wtc Almeda Park. Cornella De Llobregat,
08940 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
A61744033 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Wholesale trade in chemicals for the pharmaceutical,
veterinary, cosmetic, food and fine chemical industries |
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|
|
|
No. of Employees |
72 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SPAIN ECONOMIC OVERVIEW
Spain experienced a prolonged recession in the wake of the global financial crisis. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. Economic growth resumed in late 2013, albeit only modestly, as credit contraction in the private sector, fiscal austerity, and high unemployment continued to weigh on domestic consumption and investment. Exports, however, have been resilient throughout the economic downturn, partially offsetting declines in domestic consumption and helped to bring Spain's current account into surplus in 2013 for the first time since 1986. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, straining Spain's public finances as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2009. Spain gradually reduced the deficit to just under 7% of GDP in 2013, slightly above the 6.5% target negotiated between Spain and the EU. Public debt has increased substantially – from 60.1% of GDP in 2010 to 93.4% in 2013. Rising labor productivity, moderating labor costs, and lower inflation have helped to improve foreign investor interest in the economy and to reduce government borrowing costs. The government's ongoing efforts to implement reforms - labor, pension, health, tax, and education - are aimed at supporting investor sentiment. The government also has shored up struggling banks exposed to Spain's depressed domestic construction and real estate sectors by successfully completing an EU-funded restructuring and recapitalization program in December 2013
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Source
: CIA |
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AZELIS ESPAÑA SA |
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Wholesale trade in chemicals for the pharmaceutical, veterinary, cosmetic, food and fine chemical industries |
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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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Registered No.(ESP): A61744033
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7663997
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7494969
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Azelis Holding Sa |
Parent |
|||||
|
Subsidiary |
Luxembourg |
Luxembourg |
Holding Companies |
10.9 |
||
|
Subsidiary |
Trezzano Sul Naviglio, Milano |
Italy |
Chemical Wholesale |
115.2 |
75 |
|
|
Subsidiary |
Cornella De Llobregat, Barcelona |
Spain |
Health and Personal Care Wholesale |
100.8 |
72 |
|
|
Subsidiary |
Trezzano Sul Naviglio, Milano |
Italy |
Internet and Web Services |
1.9 |
6 |
|
|
Azelis Tr Kimya Endustrisi Urunleri Ithalat Ihracat Ticaret Ve Sanayi A S |
Subsidiary |
Istanbul (Europe) |
Turkey |
Chemical Wholesale |
22.3 |
28 |
|
Subsidiary |
Sankt Augustin, Nordrhein-Westfalen |
Germany |
Holding Companies |
1 |
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
101.4 |
124.6 |
117.5 |
|
Supplies |
85.7 |
106.6 |
100.9 |
|
Goods Consumption |
85.7 |
106.6 |
100.9 |
|
Staff Costs |
7.4 |
7.0 |
7.2 |
|
Wages and Salaries |
6.5 |
5.9 |
5.8 |
|
Social Security Costs |
1.0 |
1.1 |
1.4 |
|
Depreciation |
0.1 |
0.2 |
0.2 |
|
Allowance for Trade Operations |
0.1 |
0.1 |
0.0 |
|
Stock Provision Variation |
-0.1 |
0.0 |
0.0 |
|
Losses from Unrecovered Receivables |
0.2 |
0.1 |
0.0 |
|
Other Operating Charges |
7.4 |
9.6 |
8.4 |
|
External Services |
7.4 |
9.6 |
8.4 |
|
Taxes |
0.0 |
0.0 |
0.0 |
|
Operating Benefits |
- |
1.8 |
1.6 |
|
Financials and Similar Charges |
0.6 |
0.7 |
0.4 |
|
Due to Liabilities With Group Companies |
0.0 |
0.0 |
0.0 |
|
Due to Other Liabilities |
0.5 |
0.6 |
0.4 |
|
Exchange Losses |
0.1 |
0.1 |
- |
|
Profit From Ordinary Activities |
- |
1.3 |
1.3 |
|
Extraordinary Expenses |
- |
0.0 |
- |
|
Extraordinary Profit |
0.2 |
- |
0.0 |
|
Profit Before Taxes |
- |
1.2 |
1.3 |
|
Corporation Tax |
-0.1 |
0.4 |
0.4 |
|
Financial Year Result (Profit) |
- |
0.9 |
0.9 |
|
Income |
101.2 |
125.4 |
118.4 |
|
Net Total Sales |
99.3 |
123.7 |
116.9 |
|
Sales |
99.4 |
123.9 |
117.1 |
|
Sales Refunds |
-0.2 |
-0.2 |
-0.2 |
|
Miscellaneous Operating Income |
1.6 |
1.5 |
1.3 |
|
Auxiliary Income From Current Management |
1.6 |
1.5 |
1.3 |
|
Grants |
0.0 |
0.0 |
0.0 |
|
Operating Losses |
0.0 |
- |
- |
|
Income From Equity Investment |
0.2 |
0.2 |
0.1 |
|
In Group Companies |
0.2 |
0.2 |
0.1 |
|
Third Parties |
- |
0.0 |
0.0 |
|
Gains from Exchange Rate |
- |
- |
0.1 |
|
Negative Financial Results |
0.5 |
0.5 |
0.2 |
|
Ordinary Activities' Losses |
0.5 |
- |
- |
|
Profit on Disposal of Assets |
0.0 |
0.0 |
0.0 |
|
Extraordinary Income |
0.2 |
- |
0.0 |
|
Negative Extraordinary Results |
- |
0.0 |
- |
|
Losses Before Taxes |
0.3 |
- |
- |
|
Financial Year Result (Losses) |
0.2 |
- |
- |
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Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Concessions, Patents, Trademarks |
0.0 |
0.0 |
- |
|
Software |
0.2 |
0.2 |
0.3 |
|
Total Intangible Fixed Assets |
0.2 |
0.2 |
0.3 |
|
Technical Installations and Machinery |
0.0 |
0.0 |
0.0 |
|
Other Installations, Tools, and Furniture |
0.1 |
0.1 |
0.1 |
|
Other Tangible Assets |
0.1 |
0.2 |
0.2 |
|
Total Tangible Fixed Assets |
0.2 |
0.3 |
0.4 |
|
Receivables from Group Companies |
13.3 |
12.4 |
6.8 |
|
Long-Term Guarantees and Deposits |
0.1 |
0.1 |
0.1 |
|
Financial Investments |
13.3 |
12.4 |
6.9 |
|
Total Fixed Assets |
13.7 |
12.9 |
7.6 |
|
Goods for Resale |
8.9 |
10.6 |
13.9 |
|
Payments on Account |
0.0 |
0.0 |
0.2 |
|
Total Stocks |
8.9 |
10.6 |
14.0 |
|
Trade Debtors |
13.7 |
19.1 |
25.3 |
|
Receivables, Group Companies |
0.9 |
2.9 |
0.3 |
|
Other Debtors |
0.2 |
0.2 |
0.3 |
|
Public Bodies |
0.3 |
0.2 |
0.4 |
|
Total Debtors |
15.1 |
22.3 |
26.3 |
|
Cash |
2.6 |
0.9 |
3.1 |
|
Prepayments and Accrued Income |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
26.6 |
33.8 |
43.4 |
|
Total Assets |
40.2 |
46.8 |
51.0 |
|
Legal Reserve |
0.2 |
0.2 |
0.2 |
|
Miscellaneous Reserves |
5.7 |
4.7 |
3.8 |
|
Capital Adjustment to Euros |
0.0 |
0.0 |
0.0 |
|
Total Reserves |
5.8 |
4.8 |
4.0 |
|
Profit or Loss for the Financial Year |
-0.2 |
0.8 |
1.0 |
|
Total Equity |
18.2 |
18.0 |
17.7 |
|
Provisions for Pension Fund |
0.3 |
0.3 |
0.3 |
|
Total Provisions for Liabilities and Charges |
0.3 |
0.3 |
0.3 |
|
Amounts Owed to Group Companies |
2.1 |
2.0 |
1.8 |
|
Total Debts with Group or Affiliated Companies |
2.1 |
2.0 |
1.8 |
|
Long-Term Payables to Public Bodies |
0.0 |
0.0 |
- |
|
Total Other Creditors |
0.0 |
0.0 |
- |
|
Total Long Term Liabilities |
2.1 |
2.0 |
1.8 |
|
Loans and Other Liabilities |
3.4 |
6.0 |
6.8 |
|
Total Amounts Owed to Credit Institutions |
3.4 |
6.0 |
6.8 |
|
Amounts Owed to Group Companies |
0.5 |
3.3 |
1.7 |
|
Total Short-Term Amounts Owed to Group and Associa |
0.5 |
3.3 |
1.7 |
|
Amounts Owed for Purchases of Goods or Services |
14.3 |
15.9 |
21.3 |
|
Total Trade Creditors |
14.3 |
15.9 |
21.3 |
|
Public Bodies |
0.5 |
0.4 |
0.3 |
|
Wages and Salaries Payable |
1.0 |
0.9 |
1.1 |
|
Total Other Creditors |
1.4 |
1.3 |
1.4 |
|
Total Short Term Creditors |
19.6 |
26.5 |
31.2 |
|
Total Liabilities and Equity |
40.2 |
46.8 |
51.0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
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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 |
|
|
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 |
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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.