MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

DIGITAL PRINTING CENTER D.O.O.

 

 

Registered Office :

Kosovska 3 RS 11000 Beograd

 

 

Country :

Serbia

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.11.2003

 

 

Legal Form :

Ltd. - Limited Liability company

 

 

Line of Business :

Not Available

 

Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources

 

 

No. of Employee :

98

 

 

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 :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

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

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Serbia

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SERBIA ECONOMIC OVERVIEW

 

Serbia has a transitional economy largely dominated by market forces, but the state sector remains significant in certain areas and many institutional reforms are needed. The economy relies on manufacturing and exports, driven largely by foreign investment. MILOSEVIC-era mismanagement of the economy, an extended period of international economic sanctions, civil war, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, Serbia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). Serbia has made progress in trade liberalization and enterprise restructuring and privatization, but many large enterprises - including the power utilities, telecommunications company, natural gas company, and others - remain in state hands. Serbia has made some progress towards EU membership, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the EU in February 2010, gained candidate status in March 2012. In January 2014, Serbia's EU accession talks officially opened. Serbia's negotiations with the World Trade Organization are advanced, with the country's complete ban on the trade and cultivation of agricultural biotechnology products representing the primary remaining obstacle to accession. Serbia's program with the IMF was frozen in early 2012 because the 2012 budget approved by parliament deviated from the program parameters; the arrangement is now void. However, an IMF mission visited Serbia in February 2014 to initiate discussions with Serbian authorities on a possible new IMF arrangement and these talks will continue following the formation of the new government. High unemployment and stagnant household incomes are ongoing political and economic problems. Structural economic reforms needed to ensure the country's long-term prosperity have largely stalled since the onset of the global financial crisis. Growing budget deficits constrain the use of stimulus efforts to revive the economy and contribute to growing concern of a public debt crisis, given that Serbia's total public debt as a share of GDP doubled between 2008 and 2013. Serbia's concerns about inflation and exchange-rate stability may preclude the use of expansionary monetary policy. During the recent election campaign, the victorious SNS party promised comprehensive economic reform during the first half of 2014 to address issues with the fiscal deficit, state-owned enterprises, the labor market, construction permits, bankruptcy and privatization, and other areas. Major challenges ahead include: high unemployment rates and the need for job creation; high government expenditures for salaries, pensions, healthcare, and unemployment benefits; a growing need for new government borrowing; rising public and private foreign debt; attracting new foreign direct investment; and getting the IMF program back on track. Other serious longer-term challenges include an inefficient judicial system, high levels of corruption, and an aging population. Factors favorable to Serbia's economic growth include its strategic location, a relatively inexpensive and skilled labor force, and free trade agreements with the EU, Russia, Turkey, and countries that are members of the Central European Free Trade Agreement (CEFTA).

 

Source : CIA

Company name and address

 

DIGITAL PRINTING CENTER D.O.O.

 

DIGITAL PRINTING CENTER DOO BEOGRAD (STARI GRAD)

 

Kosovska 3

RS 11000 Beograd

Tel: +381 11/2078000, 2078001, 3291978

Fax: +381 11/2078001

E-Mail: office@dpc.rs

Web: www.dpc.rs

 

 

Summary

 

Legal form

Ltd. - Limited Liability company

 

 

Established

11.11.2003

 

 

Registered

National Identification Number: 17515861

PIB (Value Added Tax): 103121274

Serbian Business Registers Agency Nr. 27042

 

 

Establisher

Slobodan Petrovic, born 17.10.1968

Serbia

100.00%

 

 

 

Basic capital

EUR 1,235,414 (31.12.2013)

 

 

Management

Sanja Burgic, Person authorized to represent, born 19.12.1974
Serbia

 


Slobodan Petrovic, Director, born 17.10.1968
Serbia

 

 

Activity

Basic activity (according to National activity classification):
Other printing (18.12)

 

 

Business Premises

Kosovska 3, Beograd, ownership unknown, Office and printing service

 

 

Motor pool

Data not available

 

 

Staff

2013

98 employees

 

 

2012

98 employees

 

 

2011

98 employees

 

 

2010

93 employees

 

 

2009

85 employees

 

 

2008

77 employees

 

 

2007

86 employees

 

 

2006

86 employees

 

 

2005

47 employees

 

 

2004

47 employees

 

 

 

Revenue

2013 revenue

EUR

5,961,473

 

 

2012 revenue

EUR

6,647,318

 

 

2011 revenue

EUR

5,684,041

 

 

2010 revenue

EUR

4,788,196

 

 

2009 revenue

EUR

4,474,540

 

 

2008 revenue

EUR

5,494,537

 

 

2007 revenue

EUR

6,081,386

 

 

2006 revenue

EUR

4,188,488

 

 

2005 revenue

EUR

2,506,400

 

 

2004 revenue

EUR

2,121,384

 

 

2003 revenue

EUR

156,551

 

 

Real estate

Data not available

 

 

Balance Sheet

 

EUR

31.12.2013

31.12.2012

31.12.2011

 

 

 

 

FIXED ASSETS

7,154,935

5,741,469

5,118,932

   Subscribed capital unpaid

0

0

0

   Intangible fixed assets

0

0

0

   Tangible fixed assets

5,001,709

3,955,471

3,151,023

   Other fixed assets

2,153,226

1,785,998

1,967,909

 

 

 

 

CURRENT ASSETS

3,247,498

2,755,664

3,378,765

   Inventories

530,061

374,749

551,367

   Short – term loans

2,531,953

2,380,915

2,807,808

   *Cash and cash equivalent

587,986

60,932

260,187

   Other current assets

185,484

0

19,591

LOSS

0

0

0

TOTAL ASSETS

10,402,432

8,497,133

8,497,697

 

 

 

 

 

 

 

 

EQUITY

5,502,398

4,949,578

4,210,847

   Capital

1,235,414

1,246,280

1,354,186

   Subscribed capital unpaid

0

0

0

   Reserves

0

0

0

   Revalorization reserves

0

0

0

   Undistributed Income

4,266,983

3,703,298

2,856,661

   Loss

0

0

0

   Treasury shares

0

0

0

LONG TERM RESERVATIONS

0

0

0

LONG TERM LIABILITIES

3,170,689

2,484,960

2,357,483

SHORT TERM LIABILITIES

1,620,619

1,037,353

1,929,367

OTHER LIABILITIES

108,727

25,242

0

TOTAL LIABILITIES

10,402,432

8,497,133

8,497,697

 

 

 

 

 

 

Profit And Loss Account

 

EUR

31.12.2013

31.12.2012

31.12.2011

 

 

 

 

OPERATING REVENUES

5,853,531

6,520,774

5,578,804

   Sales of goods

4,187,271

4,664,582

4,524,073

OPERATING EXPENSES

4,657,402

4,389,956

4,019,601

   Costs of goods sold

0

0

0

   Raw materials costs

1,181,595

1,258,259

1,148,595

   Salaries, wages and other personal indemnities

996,495

974,899

1,018,167

   Deprecation and provision costs

661,840

567,318

492,966

   Other operating expenses

1,817,472

1,589,481

1,359,872

FINANCIAL REVENUES

90,889

85,937

88,054

FINANCIAL EXPENSES

220,096

490,950

355,409

Financial P/L

(129,207)

(405,013)

(267,355)

OTHER REVENUES

17,053

40,607

17,183

OTHER EXPENSES

74,961

168,391

33,983

Other  P/L

(57,908)

(127,784)

(16,800)

   Profit from regular business operations before tax

1,009,015

1,598,021

1,275,048

   Loss from regular business operations before tax

0

0

0

Net profit of businesses to be ceased

0

0

0

Net loss of businesses to be ceased

0

25,787

0

   Profit before taxation

1,009,015

1,572,234

1,275,048

   Loss before taxation

0

0

0

   Taxation on profit

150,907

113,958

79,453

   Personal indemnities paid to employer

0

0

0

TOTAL REVENUES

5,961,473

6,647,318

5,684,041

TOTAL EXPENSES

4,952,459

5,049,296

4,408,993

PROFIT OF THE PERIOD

858,108

1,458,276

1,195,594

LOSS OF THE PERIOD

0

0

0

Number of employees

98

98

98

 

 

 

 

 

 

Ratios

 

EUR

31.12.2013

31.12.2012

31.12.2011

 

 

 

 

Financial stability ratio

1.13

1.22

1.16

Equity ratio %

52.90

58.25

49.55

Debt to equity (Worth)

0.87

0.71

1.02

Liquidity ratio

1.68

2.30

1.46

Current ratio

2.00

2.66

1.75

Total assets turnover

0.56

0.77

0.66

Average collection period in days

158

133

184

Profit margin %

14.66

22.36

21.43

Return on total assets %

8.25

17.16

14.07

Return on equity %

15.60

29.46

28.39

Total assets per employee (ths.)

106,147.27

86,705.44

86,711.19

Equity per employee (ths)

56,146.91

50,505.90

42,967.82

Total revenue per employee (ths.)

59,729.91

66,538.51

56,926.57

Profit per employee (ths.)

8,756.20

14,880.37

12,199.94

Loss per employee (ths.)

0.00

0.00

0.00

Average net to salaries (ths.)

847.36

829.00

865.79

 

 

 

 

 

 

Corporate structure

 

Rep. Offices in Serbia: none

Rep. Offices abroad: none

Affiliates: not identified


Subsidiaries:

-   GERUM, Beograd (Stari Grad), Serbia (NIN:20031646) (100.00%)

-   GRAFO ZNAK, Beograd (Stari Grad), Serbia (NIN:20278030) (100.00%)

-   MULTI VISION, Beograd (Stari Grad), Serbia (NIN:20575514) (100.00%)


Immediate parent company: none


Other functions and shares of Slobodan Petrovic:

-   GRAFO ZNAK, Beograd (Stari Grad), Serbia (NIN:20278030), Director

-   GERUM, Beograd (Stari Grad), Serbia (NIN:20031646), Director

-   MULTI VISION, Beograd (Stari Grad), Serbia (NIN:20575514), Director


Other functions and shares of Sanja Burgic:

-   GRAFO ZNAK, Beograd (Stari Grad), Serbia (NIN:20278030), Person authorized to represent

-   MULTI VISION, Beograd (Stari Grad), Serbia (NIN:20575514), Person authorized to represent

 

Short company name: DPC D.O.O. BEOGRAD (DPC Ltd. BEOGRAD)


Former registered addresses:

Cvijiceva 29, BEOGRAD

 

Business activity of the company:

Till the end of 2003 activity, employees were run through DIGITAL PRINTING CENTER SZR STAMPARIJA (workshop)

In November 2003 subject company (DIGITAL PRINTING CENTER Ltd.) was established and took over activity and employees of DIGITAL PRINTING CENTER SZR STAMPARIJA (workshop)

 

31.12.2013

31.12.2012

31.12.2011

31.12.2010

EUR 1 = RSD 114.70

EUR 1 = RSD 113.70

EUR 1 = RSD 104.64

EUR 1 = RSD 105.98

 

2012:

2011:

2010:

12.20%

10.30%

7.90%

 

SBERBANK SRBIJA A.D., Beograd

Bulevar Mihajla Pupina 165g

285-1005140000012-69

MARFIN BANK A.D. Beograd

Dalmatinska 22

145-18432-66

BANCA INTESA A.D. Beograd

Milentija Popovica 7 b

160-214224-29

ALPHA BANK SRBIJA A.D. Beograd

Kralja Milana 11

180-1041210028570-85

KOMERCIJALNA BANKA A.D. Beograd

Svetog Save 14

205-65759-12

RAIFFEISEN BANKA A.D. Beograd

Bulevar Zorana Djindjica 64 a

265-1100310006094-3

No unsettled liability was registered during last 12 months.

 

Case Registered:

-

Case Status:

There is no record of any debt collection action.

 

As a rule payments are made on time according to conditions, in some cases there have been delays

 

Business connections are permissible

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.46

UK Pound

1

Rs.98.51

Euro

1

Rs.77.31

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.