|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL DECO LOGISTICS SP. Z O.O. |
|
|
|
|
Registered Office : |
Borek Strzeliński, Ul. Nowowiejska 1, 57-160 Borów |
|
|
|
|
Country : |
Poland |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
14.11.2000 |
|
|
|
|
Com. Reg. No.: |
KRS 193151 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in Transport services; Sale of household articles (furniture, bedclothes) |
|
|
|
|
No. of Employees : |
105 (2013) |
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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Poland |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Poland ECONOMIC OVERVIEW
Poland has
pursued a policy of economic liberalization since 1990 and Poland's economy was
the only one in the European Union to avoid a recession through the 2008-09
economic downturn. Although EU membership and access to EU structural funds
have provided a major boost to the economy since 2004, GDP per capita remains
significantly below the EU average while unemployment continues to exceed the
EU average. The government of Prime Minister Donald TUSK steered the Polish
economy through the economic downturn by skillfully managing public finances
without stifling economic growth and adopted controversial pension and tax
reforms to further shore up public finances. While the Polish economy has
performed well over the past five years, growth slowed in 2012, in part due to
the ongoing economic difficulties in the euro zone. The key policy challenge is
to provide support to the economy through monetary easing, while maintaining
the pace of structural fiscal consolidation. Poland's economic performance
could improve over the longer term if the country addresses some of the
remaining deficiencies in its road and rail infrastructure and its business
environment. An inefficient commercial court system, a rigid labor code, red
tape, and a burdensome tax system keep the private sector from realizing its
full potential.
|
Source : CIA |
INTERNATIONAL DECO LOGISTICS Sp. Z o.o.
Borek Strzeliński
ul. Nowowiejska 1
57-160 Borów
Phone: 71 3927610
71
3927612
Fax: 71
3930557
E-mail: a.kozun@idl.com.pl
Legal form Limited
liability company (5)
Stat.no. 932290611
Tax ID PL
8992393856
Establishment 14.11.2000
(5)
Changes
of names and addresses
14.11.2000 ul.
Powstańców Śląskich 95, 53-332 Wrocław
06.02.2004 Borek
Strzeliński, ul. Nowowiejska 1, 57-160 Borów
Registration:
06.02.2004, District Court Wrocław VI Department, KRS
193151
Data
concerning previous registrations:
13.12.2000, District Court Wrocław, RHB 9998
Shareholders
BROTHERS F NV, Diabeke 19/B, 9500
Geraardsbergen, Belgium PLN
90 000,00
100,00%
list entered to NCR /KRS/ on 11.04.2011
Initial
Capital PLN 90
000,00
Initial capital divided into 900 shares of PLN 100,00 each
Management
Alex Frank Flamant , Onkerzelestraat 122, 9500
Geraardsbergen, Belgium - president
Proxies:
Remi Van Thielen , Kesselsesteenweg 39C, B-2500 Lier,
Belgium- independent proxy
Representation:
To submit statements and sign on behalf of the company:
If numerous managers – Two members of the board of directors
jointly
or member of the board of directors with proxy jointly
Main
activity
Engaged in Transport services; Sale of household articles
(furniture, bedclothes)
Import Thailand, China, France, Hong Kong, Greece,
Italy
Export Belgium
Branches NACE
2007:
Wholesale of china and
glassware, wallpaper and cleaning materials (G.46.44.Z)
Other supporting transport
activities (H.52.2)
Agents involved in the sale of
furniture, household goods, hardware and ironmongery (G.46.15.Z)
Employment 2009:
148 employees
2010: 140 employees
2011: 107 employees
2012: 105 employees
2013: 105 employees
Turnover 01.07.2008
- 30.06.2009 PLN 85 087 693,69
01.07.2009 - 30.06.2010 PLN 74
642 277,51
01.07.2010 - 30.06.2011 PLN 80
106 037,68
01.07.2011 - 30.06.2012 PLN 88
488 682,73
01.07.2012 - 30.06.2013 PLN 81
158 735,37
Source of financial data Court
Court
Monitor Polski B Court
annual
annual annual annual
Personal balance sheet as at 30.06.2013 30.06.2012 30.06.2011 30.06.2010
(Amount in PLN)
-A. Fixed assets...................... 13 335 212,88 13 429 861,52 13 837 374,48 14
354 749,99
- I. Intangible assets............. 24 604,01 31
712,81 17
387,99
- 3. Other intangible assets....... 24 604,01 31
712,81 17 387,99
- II. Tangible assets............... 12 922 565,38 13 114 346,56 13 581
189,22 14 081 769,65
- 1. Fixed goods................... 12 917 565,38 13 109 346,56 13 577
689,22 14 081 769,65
- a) land........................ 364 114,00 364
114,00 364 114,00 364 114,00
- b) buildings, premises,
facilities..............
11 964 445,12 12 328 205,44 12 605 431,48 12 965 355,28
- c) machinery and equipment....197 618,72 194 949,66 256 452,72 329
227,90
- d) fleet of motor vehicles..... 302 634,79 39 084,24
68 494,04 46 887,45
- e) other fixed goods........... 88 752,75 182
993,22 283 196,98 376 185,02
- 2. Fixed goods under
construction.................. 5 000,00 5
000,00 3 500,00
-V. Long-term prepayments and
accrued income...................... 388 043,49 283
802,15 238 797,27 272 980,34
- 1. Deferred tax assets............. 388 043,49 283 802,15 238 797,27 272
980,34
-B. Current assets.................... 63 787 741,47 59 150 993,10 55
093 851,42 59 415 528,78
- I. Stock......................... 13 948 276,80 18 795 317,92 19 777 926,67 18 413 151,66
- 1. Raw materials................. 17
016 481,19
- 4. Goods for re-sale............. 12 387 815,16 16 598 161,04 2 761 445,48 15 478 787,28
- 5. Advance payments ............. 1 560 461,64 2 197 156,88 2
934 364,38
- II. Short-term receivables......... 49 521 831,27 39 945
802,26 35 005 486,15 40 728 410,79
- 1. Receivables from affiliated
companies............................. 47 867 605,25 38 886 778,56 33 149
338,49 38 935 069,44
- a) Due to deliveries and
services with payment period 47 867 605,25 38 886
778,56 33 149 338,49 38 935 069,44
- - up to 12 months............ 47 867 605,25 38 886
778,56 33 149 338,49 38 935 069,44
- 2. Other receivables ............ 1 654 226,02 1
059 023,70 1 856 147,66 1 793 341,35
- a) Due to deliveries and
services with payment period:....373 444,98 258 057,91 426 473,26 408
675,98
- - up to 12 months............ 373 444,98 426 473,26 408 675,98
- b) Due to taxes, subsidies,
insurances, duties, etc............. 1 280 781,04 790
953,60 1 406 113,00 1 378 721,57
- c) Other....................... 10
012,19 23 561,40 5 943,80
- III. Short term investments........ 38 236,40 123 086,20 25 430,48 5
426,84
- 1. Short-term financial assets... 38 236,40 123 086,20 25 430,48 5
426,84
- c) cash and other liquid
assets................................ 38 236,40 123 086,20 25
430,48 5 426,84
- - cash in hand and on bank
account............................... 38 236,40 123 086,20
-IV. Short-term prepayments and
accrued income........................ 279 397,00 286
786,72 285 008,12 268 539,49
-D. Total assets...................... 77 122 954,35 72
580 854,62 68 931 225,90 73 770 278,77
-A. Shareholders' equity............-628 660,02 -880 669,91 586 229,71 524
876,06
- I. Basic share capital........... 90 000,00 90
000,00 90 000,00 90 000,00
- IV. Statutory reserve capital..... 496 229,71 496 229,71 434 876,06 87
148,21
- VII. Profit (loss) carried forward.-1 466 899,62
- VIII. Net profit (loss)............ 252 009,89 -1
466 899,62 61 353,65 347 727,85
-B. Liabilities and reserves for
liabilities........................... 77 751 614,37 73 461 524,53 68 344 996,19
73 245 402,71
- I. Reserves for liabilities...... 412 352,56 368
465,88 192 842,79 134 190,90
- 1. Deferred income tax reserves 16 604,56
- 2. Reserves for pensions and
similar social payments............. 233 282,12 368
465,88 192 842,79 134 190,90
- - short-term................... 233 282,12 368
465,88 192 842,79 134 190,90
- 3. Other reserves................ 162 465,88
- - short-term................... 162 465,88
-II. Long-term liabilities........... 56 042 820,42 57 667 691,46 55 625
536,18 43 426 366,73
- 1. Due affiliated companies...... 42 267 333,52 41 604 404,58 38 922 422,57 40
476 741,96
- 2. Other liabilities............... 13 775 486,90 16 063 286,88 16 703
113,61 2
949 624,77
- a) Loans......................... 13 642 756,37 16
703 113,61 2 949 624,77
- c) Other financial liabilities... 132 730,53
-III. Short-term liabilities.......... 21 296 441,39 15 425 367,19 12 526
617,22 29 684 845,08
- 1. Due to affiliated companies...660 114,34 240
340,86 17 064,11
- a) Due to deliveries and
services with payment period:......... 240
340,86 17
064,11
- - up to 12 months.............. 240 340,86 17 064,11
- 2. Other liabilities............... 20 636 327,05 15 185 026,33 12 526
617,22 29 667 780,97
- a) Loans......................... 2 390 757,41 1 790 768,71 1 675
328,78 16 661 229,26
- c) Other financial liabilities... 82 166,68
- d)Due to deliveries and
services with payment period:.....17 021 487,05 12 317 348,15 9 866 135,61 12
063 185,41
- - up to 12 months.............. 17 021 487,05 12 317
348,15 9 866 135,61 12 063 185,41
- g) Due to taxes, subsidies,
insurances, duties, etc...............799 962,06 725 747,81 657 497,26 586
507,88
- h) Due to salaries............... 288 688,17 330
321,62 303 978,21 325 900,02
- i) Other......................... 53 265,68 20 840,04 23
677,36 30 958,40
-IV. Accruals and deferred income.... 0,00
-D. Total liabilities................. 77 122 954,35 72
580 854,62 68 931 225,90 73 770 278,77
Source of financial data Court
Court Monitor Polski B Court
annual
annual annual annual
individual
PROFIT AND LOSS ACCOUNT 01.07.2012- 01.07.2011- 01.07.2010- 01.07.2009-
30.06.2013 30.06.2012 30.06.2011 30.06.2010
(amount in PLN)
-A. Income from sales and
similar..... 81
158 735,37 88 488 682,73 80 106 037,68 74 642 277,51
- - including related companies...80 024 599,36 87 105 957,78 79 065 029,63 73
943 253,01
- I. Net income on sales........... 4 211 062,15 4
489 051,14 8 689 774,10 7 795 692,89
- IV. Income from sales of goods
and materials......................... 76 947 673,22 83 999 631,59 71 416
263,58 66 846 584,62
-B. Operational costs................80 250 352,79 86 966 782,93 79
525 278,98 75 317 343,34
- I. Depreciation.................. 572 501,09
562 294,73 569 075,19 668 232,82
- II. Materials and energy.......... 2 371 394,76 2 200 626,48 2 126 768,85 2
596 842,71
- III. Third party services.......... 7 905 842,29 10
107 131,60 8 740 225,82 9 120 141,32
- IV. Taxes and duties.............. 505 801,43 491 190,89 472 289,21 444
548,34
- V. Salaries and wages............ 4 836 020,99 5 076 622,65 4 154 324,21 4
258 906,14
- VI. Social security............... 1 552 566,72 1 564 298,81 1 394 912,43 1
365 929,86
- VII. Other......................... 305
022,91 186 745,98 134 727,29 129 964,81
- VIII.Costs of goods and
Materials sold......................... 62 201 202,60 66 777 871,79 61 932 955,98 56
732 777,34
-C. Profit on sale.................... 908 382,58 1 521 899,80 580 758,70
-C. Loss on sale...................... 675
065,83
-D. Other operating incomes
809 247,22 230 587,84 700 976,01 431 781,50
- I. Incomes from disposal
non-financial assets.......... 7
259,77 47 658,20
- III. Other operating incomes.... 809 247,22 223 328,07 653 317,81 431
781,50
-E. Other operating costs........ 240 723,61 321 300,49 686 429,71 383
568,02
- III. Other operating costs......... 240 723,61 321 300,49 686 429,71 383
568,02
-F. Profit on operating activities 1 476 906,19 1 431 187,15 595
305,00
-F. Loss on operating activities...... 626
852,35
-G. Financial incomes................. 445,39 5 099,46 621 900,82 1
889 278,63
- II. Interest received............. 445,39 1
669,90 906,40 1 031,70
- V. Other......................... 3 429,56 620 994,42 1
888 246,93
-H. Financial costs................... 1 312 978,47 2 948 191,11 1 121 669,10 1
037 153,76
- I. Interest...................... 878 424,08 1 131 950,68 1 029
139,84 1 021 996,44
- IV. Other......................... 434 554,39 1 816 240,43 92
529,26 15 157,32
-I. Profit on economic activity..164 373,11 95
536,72 225 272,52
-I. Loss on economic activity... 1 511 904,50
-K. Gross profit...................... 164 373,11 95
536,72 225 272,52
-K. Gross loss........................ 1
511 904,50
-L. Corporation tax................... -87 636,78 -45 004,88 34 183,07 -122
455,33
-N. Net profit........................ 252 009,89 61
353,65 347 727,85
-N. Net loss.......................... 1
466 899,62
Balance
sheet as at 30.06.2013
BAKER TILLY Poland Assurance Sp. z o.o, Warszawa ul.
Hrubieszowska 2 No.
3790
Balance
sheet as at 30.06.2012
BAKER TILLY POLAND AUDIT Sp. z o.o., ul. Hrubieszowska
2, 01-209 Warszawa No. 1898
Expert auditor Wolfgang Stanclik No. 8615
Balance
sheet as at 30.06.2011
BAKER TILLY POLAND AUDIT Sp. z o.o., ul. Hrubieszowska
2, 01-209 Warszawa No.
1898
Expert auditor Wolfgang Stanclik No. 8615
Balance
sheet as at 30.06.2010
BAKER TILLY POLAND AUDIT Sp. z o.o., ul. Hrubieszowska
2, 01-209 Warszawa No.
1898
Expert auditor Wolfgang Stanclik No. 8615
|
Ratios |
01.07.2012- 30.06.2013 |
01.07.2011 -30.06.2012 |
01.07.2010- 30.06.2011 |
01.07.2009- 30.06.2010 |
|
|
Current ratio |
3,00 |
3,83 |
4,40 |
2,00 |
|
|
Quick ratio |
2,33 |
2,60 |
2,80 |
1,37 |
|
|
Immediate ratio |
|
0,01 |
|
|
|
|
Return on sale |
0,31 |
-1,66 |
0,08 |
0,47 |
|
|
Return on assets |
0,33 |
-2,02 |
0,09 |
0,47 |
|
|
Return on equity |
|
|
10,47 |
66,25 |
|
|
Average trade debtors' days |
222,72 |
165,22 |
159,50 |
199,16 |
|
|
Average stock turnover's days |
62,73 |
77,74 |
90,12 |
90,04 |
|
|
average payables payment period |
95,78 |
63,80 |
57,08 |
145,16 |
|
|
Total indebtedness ratio |
100,82 |
101,21 |
99,15 |
99,29 |
|
|
While rating the
company, it is advisable |
|||||
|
(G.46.90.Z - NACE 2007), as at : |
30.09.2013 |
31.12.2012 |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Current ratio............................ |
0,92 |
1,25 |
1,01 |
1,39 |
1,56 |
|
Quick ratio.............................. |
0,79 |
1,12 |
0,87 |
0,69 |
0,78 |
|
Immediate ratio.......................... |
0,05 |
0,37 |
0,13 |
0,08 |
0,08 |
|
Return on sale........................... |
-3,80 |
-2,31 |
0,59 |
0,70 |
2,68 |
|
Return on assets......................... |
-1,78 |
-1,32 |
0,39 |
1,25 |
4,51 |
|
Return on equity......................... |
-4,62 |
-3,16 |
1,25 |
3,47 |
9,86 |
|
Average trade debtors' days.............. |
93,70 |
109,75 |
114,30 |
61,43 |
64,53 |
|
Average stock turnover's days............ |
37,19 |
40,60 |
39,08 |
68,81 |
71,26 |
|
average payables payment period.......... |
285,93 |
334,16 |
323,12 |
99,50 |
92,70 |
|
Total indebtedness ratio................. |
61,41 |
58,20 |
684,89 |
64,03 |
54,21 |
|
Percent share in the examinated group |
82,40 |
88,90 |
77,80 |
88,90 |
85,70 |
|
Sales/revenue per employee in th. PLN.... |
680,56 |
764,17 |
784,56 |
432,05 |
408,48 |
|
Average sales/revenue per company in |
105 166,94 |
115 516,72 |
116 986,83 |
55 078,07 |
58 733,71 |
according
to the Central Statistical Office
Locations: seat:
Borek
Strzeliński, ul. Nowowiejska 1, 57-160 Borów
Phone: 71
3927610
71 3927611
71 3927612
Fax: 71
3927620
71
3930557
E-mail: a.kozun@idl.com.pl
Real Estate Borek
Strzeliński, ul. Nowowiejska 1, 57-160 Borów
built-up land of area 67 600
sq.m.
Real estate charged by mortgage
Book value of buildings as at
30.06.2013 PLN 11 964 445,12
Book value of lands as at
30.06.2013 PLN 364 114,00
Verification of information on
real estate
ownership position through the
Real Estate
Register is not covered by the
standard
report.
Shares
in other companies
As at 22.01.2014 there are no shares in other companies.
Connections:
Remi Van Thielen
- AXIS sp. z o.o., ,ul. Kręta 14, 56-410 Dobroszyce
· shareholder: PLN 50 000,00 (100,00%)
· president
- „AVAX” sp. z o.o. NIP 8942489637, Borek Strzeliński,
ul. Nowowiejska 1, 57-160 Borów
· shareholder: PLN 50 000,00 (100,00%)
· president
Alex Frank Flamant
Connections have not been determined due to no possibility
of identification of the persons or subjects which appear
in the company
.
Data concerning connections are valid as at: 22.01.2014.
General
information
The subject has not decided to cooperate in elaboration of
this report yet.
Banks
BNP PARIBAS BANK POLSKA SA O. we Wrocławiu ul. Ruska
20/21 (16001156)
ul. Ruska 20/21, 50-079 Wrocław
Acc.no. 83160011560004060634814001
Payment Manner
Payment delays cannot be excluded.
Credit capability Business connections should not be
refused, credits require security
Due
to:
- Negative equity capital
- high level of the debt ratio
- Unsettled losses from previous years
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
UK Pound |
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.