MIRA
INFORM REPORT
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Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
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Name : |
AGRIPHAR HELLAS S.A. |
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Formerly Known As : |
GEOPHARM S.A |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1982 |
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Com. Reg. No.: |
4358/001/Β/86/4356 |
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Legal Form : |
Public Company |
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Line of Business : |
·
Wholesale
of chemical products · Manufacture of pesticides and other agro-chemical products |
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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 : |
Slow |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 18% 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 averaged growth of about 4% per year between 2003 and 2007, 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. By 2013 the economy had contracted 26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP in 2007-08, but violated it in 2009, with the deficit reaching 15% of GDP. Austerity measures have reduced the deficit to about 4% in 2013, including government debt payments. 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 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 continue pushing 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, called for holders of Greek government bonds to write down a significant portion of their holdings. As Greek banks held a significant portion of sovereign debt, the banking system was adversely affected by the write down and €41 billion of the second bailout package was set aside to ensure the banking system was adequately capitalized. In exchange for the second loan Greece promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, the massive austerity cuts have prolonged Greece's economic recession and depressed tax revenues. Throughout 2013, Greece's lenders called on Athens to step up efforts to increase tax collection, dismiss public servants, privatize public enterprises, and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's efforts to meet bailout conditions led to the departure of one party, the Democratic Left, from the governing coalition when his government made the controversial decision to shut down and restructure the state-owned television and radio company. Subsequent reluctance to institute further cuts and delays in meeting public sector reform targets prompted Greek lenders to withhold bailout fund disbursements until December 2013. However, investor confidence began to show signs of strengthening by the end of 2013 as leading macroeconomic indicators suggested the economy’s free fall had been arrested.
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Source
: CIA |
IDENTIFICATION DETAILS
Company name: AGRIPHAR
HELLAS S.A. (AGRIPHAR HELLAS S.A.)
Address: NATO Ave, Pilicho,
P.O. Box 92, Aspropyrgos 19300, Attica, Greece
Phone: 2105578777
Fax: 2105578768
Web-
page: www.geopharm.gr,
email. info@agriphar.gr
TRADΕ
STYLE: AGRIPHAR
HELLAS S.A.
COMPANY DETAILS
Status: Active
TAX
ID: 094116531
REG.
NO.: 4358/001/Β/86/4356
G.E.MI.:
122521307000
YEAR
STARTED: 1982
SHARE CAPITAL
INITIAL
CAPITAL 1,500,400
EUR
MANAGEMENT/DIRECTORS
NAME TAX
ID
Filip Wal. Van de vliet
Board Chairman
Remi Alp. Wies
Board Vice Chairman
Konstantinos Ele. Papasotiriou
Chief Executive Officer, General Manager
Dimitrios Nik. Kokkalis 016457031
Board Member
Emmanouil Nik. Manikas 028877213
Board Member, Marketing Director, Business
Development Director
Grigorios Joh. Hatzis
Board Member, Chief Financial Officer
Martin Rog. Martens
Board Member
SHAREHOLDERS
FULLENAME PERCENT
DEMETTER
DATA MANAGEMENT 100.00%
ACTIVITY
SECTOR: Chemicals/Representations,
exclusive imports and wholesale trade of fertilisers and agricultural
chemicals. Formulation of agricultural chemicals
NACE
INDUSTRY
51.55 Wholesale
of chemical products
24.20 Manufacture
of pesticides and other agro-chemical products
PRODUCTS
KIND RELATION
Agrochemicals
Trade
Fertilisers Trade
CUSTOMERS
FULLNAME TAX NUMBER COUNTRY
NOVAFARM
S.A. 095378910 Greece
GREENFARM
HELLAS S.A. 998101194 Greece
AGROPONIA
SERRON S.A. 094289560 Greece
IMPORT
The subject company imports from Belgium,
Denmark, Japan and Spain.
EXPORT
The subject company exports to Spain.
SUPPLIERS
FULLNAME TAX
NUMBER COUNTRY
SYNGENTA HELLAS S.A. 099361795 Greece
PREMISES
Address: NATO Ave, Pilicho,
P.O. Box 92, Aspropyrgos 19300, Attica, Greece
OWNERSHIP:
Leased
LAND
m2:
36000
BUILDINGS
m2: 3000
WORKFORCE
No. of employees 30
BANKS
BANK NAME AREA BANK NUM
ALPHA BANK ELEFSIS
0140168
NATIONAL BANK OF GREECE S.A. ASPROPYRGOS 0110200
AGRICULTURAL BANK OF GREECE ASPROPIRGOS 0430627
EFG EUROBANK ERGASIAS S.A. ASPROPIRGOS 0260335
PIRAEUS BANK S.A. ELEFSINA 0172025
FINANCIAL INFORMATION
GENERAL COMMENTS
Company was established
in 1982 having a legal seat at Aspropyrgos and is engaged in the trade of
fertilisers and agricultural chemicals.
Subject continues
business activities of the pre existing firm of the firm, GEOPHARM J.
KALOPISSIS - K. KALLIONTZIS O.E., originally founded in 1954. In 2012 company
changed its legal name from GEOFARM S.A. to the present one.
Company’s first
legal seat was at Athens (57 Panepistimiou Str.) and in 1992 was transferred
its head office at 5 Chimaras, Maroussi.
Finally in 1997
subject moved its head office to the present address.
Up to December
2012 subject's shareholder had been the firm AGRIPHAR (Belgium) by 100%.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.31 |
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1 |
Rs. 98.67 |
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Euro |
1 |
Rs. 78.10 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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.