MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAYORAL MODA INFANTIL SA |
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Formerly Known
as: |
Confecciones Mayoral SA |
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Registered Office : |
Cl. La Orotava,
118, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1981 |
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Com. Reg. No.: |
A29076049 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Manufacturer
and sale of children's and babies' clothing |
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No. of Employees : |
208 |
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 |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
& address
Mayoral Moda Infantil Sa
Cl. La Orotava,
118
Malaga, 29006
Spain
Tel: +(34) 952045204
Fax: 34 952 045 200
Web: www.mayoral.es
synthesis
Employees: 208
Company Type: Public
Parent
Corporate Family: 4 Companies
Incorporation
Date: 1981
Auditor: Rafael
Gomez Garcia
Financials in: usd (Millions)
Fiscal Year End: 13-Sep-2012
Reporting
Currency: Euro
Annual Sales: 255.9 1
Net Income: 33.6
Total Assets: 237.4
Business
Description
Manufacture and
sale of children's and babies' clothing
Industry
Industry Clothing and Apparel Manufacturing
ANZSIC 2006:
1351 - Clothing Manufacturing
ISIC Rev 4:
1410 - Manufacture of wearing apparel, except fur apparel
NACE Rev 2:
1419 - Manufacture of other wearing apparel and accessories n.e.c.
NAICS 2012:
315240 - Women’s, Girls’, and Infants’ Cut and Sew Apparel Manufacturing
UK SIC 2007:
1419 - Manufacture of other wearing apparel and accessories n.e.c.
US SIC 1987:
2361 - Girls', Children's, and Infants' Dresses, Blouses, and Shirts
Key Executives
|
Name |
Title |
|
Pueri Sl Indumenta |
Single Partner |
|
Alvaro Gonzalez De Gor |
Director Financiero |
|
Fernando Del Monte |
Director de ExportaciĂłn |
|
Francisco Abolafio Gomez |
Director de Informática |
|
Lourdes Abela Dominguez |
Joint Attorney |
1 - Profit & Loss Item Exchange Rate: USD 1 =
EUR 0.769178
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR
0.7756167
Corporate
Overview
Location
Cl. La Orotava,
118
Malaga, 29006
Spain
Tel: +(34) 952045204
Fax: 34 952 045 200
Web: www.mayoral.es
Sales EUR(mil): 196.9
Assets EUR(mil): 184.1
Employees: 208
Fiscal Year End: 13-Sep-2012
Industry: Apparel and Accessories
Incorporation
Date: 1981
Company Type: Public Parent
Quoted Status: Not Quoted
Previous Name: Confecciones Mayoral SA
Registered
No.(ESP): A29076049
Managing
Director: Dominguez Maza Manuel
Industry Codes
ANZSIC 2006 Codes:
1351 - Clothing Manufacturing
3712 - Clothing and Footwear Wholesaling
ISIC Rev 4 Codes:
1410 - Manufacture of wearing apparel, except
fur apparel
4641 - Wholesale of textiles, clothing and
footwear
NACE Rev 2 Codes:
1419 - Manufacture of other wearing apparel and
accessories n.e.c.
4642 - Wholesale of clothing and footwear
NAICS 2012 Codes:
315240 - Women’s, Girls’, and Infants’
Cut and Sew Apparel Manufacturing
424330 - Women's, Children's, and Infants'
Clothing and Accessories Merchant Wholesalers
US SIC 1987:
2361 - Girls', Children's, and Infants'
Dresses, Blouses, and Shirts
2369 - Girls', Children's, and Infants'
Outerwear, Not Elsewhere Classified
5137 - Women's, Children's, and Infants'
Clothing and Accessories
UK SIC 2007:
1419 - Manufacture of other wearing apparel
and accessories n.e.c.
4642 - Wholesale of clothing and footwear
Business Description
Manufacture of other wearing apparel and
accessories
More Business Descriptions
Manufacture and sale of children's and babies'
clothing
Brand/Trade Names
Mayoral
Nukutavake
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Corporate Family |
Corporate
Structure News: |
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Mayoral
Moda Infantil Sa |
|
Mayoral Moda Infantil Sa |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Mayoral Moda Infantil Sa |
Parent |
Malaga |
Spain |
Clothing and Apparel Manufacturing |
255.9 |
208 |
|
|
Mayoral Portugal-Moda
Infantil, S.A. |
Subsidiary |
Alfena, Valongo |
Portugal |
Clothing and Apparel Wholesale |
25.4 |
26 |
|
|
Mayoral Hellas Sole
Shareholder Co. Ltd |
Subsidiary |
Athens |
Greece |
Clothing and Apparel Wholesale |
19.7 |
11 |
|
|
Mayoral Italia SRL |
Subsidiary |
Roma, Roma |
Italy |
Textile Manufacturing |
50.0 |
9 |
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Executive report
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Executives |
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Director General |
Managing Director |
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Managing Director |
Managing Director |
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Director Financiero |
Finance Executive |
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Director de ExportaciĂłn |
Sales Executive |
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Director Comercial |
Marketing Executive |
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Director de Informática |
Information Executive |
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Commercial Manager |
Commercial Executive |
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Joint Attorney |
Legal Executive |
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Single Partner |
Partner |
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Annual Profit
& Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
|
Charges |
240.6 |
192.4 |
183.7 |
|
Stock Reduction |
- |
- |
0.5 |
|
Supplies |
177.4 |
136.5 |
129.9 |
|
Goods Consumption |
126.7 |
92.0 |
95.5 |
|
Consumption of Raw
Materials |
34.6 |
30.7 |
21.3 |
|
Miscellaneous External
Expenditures |
16.1 |
13.8 |
13.1 |
|
Staff Costs |
12.9 |
10.9 |
10.9 |
|
Wages and Salaries |
10.3 |
8.7 |
8.6 |
|
Social Security Costs |
2.6 |
2.2 |
2.3 |
|
Depreciation |
3.6 |
3.1 |
5.2 |
|
Allowance for Trade Operations |
0.3 |
0.2 |
0.3 |
|
Losses from
Unrecovered Receivables |
0.3 |
0.2 |
0.3 |
|
Other Operating Charges |
31.8 |
27.4 |
26.3 |
|
External Services |
31.7 |
27.2 |
26.1 |
|
Taxes |
0.1 |
0.2 |
0.2 |
|
Operating Benefits |
48.0 |
45.2 |
35.1 |
|
Financials and Similar Charges |
0.1 |
0.1 |
0.3 |
|
Due to Other Liabilities |
0.1 |
0.1 |
0.3 |
|
Changes in Financial Investment Provisions |
0.8 |
0.8 |
0.4 |
|
Net Financial Income |
1.6 |
2.4 |
0.5 |
|
Profit From Ordinary Activities |
49.6 |
47.6 |
35.6 |
|
Changes in Provisions for Assets |
-1.0 |
-1.1 |
-0.7 |
|
Losses From Assets and Securities Portfolio |
- |
0.5 |
0.0 |
|
Extraordinary Expenses |
0.2 |
0.1 |
0.3 |
|
Extraordinary Profit |
0.8 |
0.5 |
0.5 |
|
Profit Before Taxes |
50.5 |
48.1 |
36.1 |
|
Corporation Tax |
14.6 |
13.8 |
10.3 |
|
Financial Year Result (Profit) |
35.9 |
34.3 |
25.8 |
|
Income |
276.5 |
226.6 |
209.4 |
|
Net Total Sales |
273.7 |
220.3 |
207.5 |
|
Sales |
280.9 |
226.0 |
212.9 |
|
Rendering of Services |
- |
- |
0.0 |
|
Sales Refunds |
-7.1 |
-5.7 |
-5.4 |
|
Increase in Stocks |
0.0 |
2.5 |
- |
|
Miscellaneous Operating Income |
0.3 |
0.5 |
0.7 |
|
Auxiliary Income From
Current Management |
0.2 |
0.4 |
0.6 |
|
Grants |
0.1 |
0.1 |
0.1 |
|
Income From Equity Investment |
1.7 |
- |
- |
|
In Group Companies |
0.3 |
- |
- |
|
Third Parties |
1.3 |
- |
- |
|
Income From Other Securities and Receivables |
- |
0.8 |
0.5 |
|
From Non-Group
Companies |
- |
0.8 |
0.5 |
|
Income From Miscellaneous Interests |
0.0 |
0.4 |
0.2 |
|
From Group Companies |
- |
0.2 |
0.0 |
|
Miscellaneous
Interests |
- |
0.2 |
0.1 |
|
Profit on Financial
Investment |
0.0 |
- |
- |
|
Gains from Exchange Rate |
0.8 |
2.1 |
0.5 |
|
Profit on Disposal of Assets |
0.0 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Software |
0.0 |
0.0 |
0.1 |
|
Total Intangible Fixed Assets |
0.0 |
0.0 |
0.1 |
|
Land and Construction |
47.2 |
43.8 |
48.8 |
|
Technical Installations
and Machinery |
4.0 |
1.2 |
1.6 |
|
Other Installations,
Tools, and Furniture |
14.0 |
4.2 |
5.6 |
|
Tangible Fixed Assets
Under Construction |
0.3 |
6.0 |
- |
|
Other Tangible Assets |
9.7 |
2.9 |
3.9 |
|
Total Tangible Fixed Assets |
75.3 |
58.1 |
59.9 |
|
Investments in Group
Companies |
11.9 |
12.1 |
12.2 |
|
Other Receivables |
0.0 |
0.0 |
0.1 |
|
Long-Term Guarantees
and Deposits |
0.0 |
0.0 |
0.0 |
|
Financial Investments |
12.0 |
12.2 |
12.3 |
|
Total Fixed Assets |
87.3 |
70.3 |
72.3 |
|
Goods for Resale |
43.2 |
45.0 |
39.6 |
|
Raw Materials and
Other Consumables |
2.3 |
0.8 |
0.8 |
|
Finished Products |
5.1 |
5.2 |
2.9 |
|
Total Stocks |
50.5 |
51.0 |
43.4 |
|
Trade Debtors |
8.3 |
4.6 |
6.0 |
|
Receivables, Group
Companies |
17.7 |
20.5 |
24.9 |
|
Other Debtors |
0.1 |
0.0 |
0.3 |
|
Public Bodies |
6.4 |
2.6 |
2.4 |
|
Total Debtors |
32.5 |
27.7 |
33.6 |
|
Investments in Group
Companies |
9.4 |
- |
- |
|
Receivables from Group
Companies |
0.3 |
5.8 |
- |
|
Short-Term Securities
Portfolio |
36.9 |
51.7 |
32.6 |
|
Short-Term Guarantees
and Deposits |
0.0 |
0.0 |
0.0 |
|
Total Short-Term Investments |
46.7 |
57.5 |
32.6 |
|
Cash |
21.9 |
16.3 |
21.3 |
|
Prepayments and Accrued Income |
0.0 |
- |
0.0 |
|
Total Current Assets |
151.7 |
152.5 |
130.9 |
|
Total Assets |
239.0 |
222.8 |
203.2 |
|
Legal Reserve |
0.6 |
0.7 |
0.7 |
|
Miscellaneous Reserves |
142.3 |
132.7 |
113.0 |
|
Total Reserves |
143.0 |
133.4 |
113.7 |
|
Retained Earnings |
- |
- |
14.3 |
|
Profit or Loss Brought Forward |
- |
- |
14.3 |
|
Profit or Loss for the Financial Year |
33.5 |
34.7 |
26.6 |
|
Total Equity |
179.1 |
170.8 |
157.5 |
|
Loans and Other
Liabilities |
1.0 |
2.4 |
4.1 |
|
Total Amounts Owed to Credit Institutions |
1.0 |
2.4 |
4.1 |
|
Other Creditors |
0.0 |
0.0 |
0.0 |
|
Long-Term Guarantees
and Deposits Received |
0.0 |
0.0 |
0.0 |
|
Long-Term Payables to
Public Bodies |
8.7 |
0.7 |
- |
|
Total Other Creditors |
8.7 |
0.7 |
0.0 |
|
Total Long Term Liabilities |
9.7 |
3.1 |
4.1 |
|
Loans and Other
Liabilities |
1.3 |
1.4 |
1.4 |
|
Total Amounts Owed to Credit Institutions |
1.3 |
1.4 |
1.4 |
|
Amounts Owed to Group
Companies |
8.5 |
6.3 |
6.0 |
|
Total Short-Term Amounts Owed to Group and
Associa |
8.5 |
6.3 |
6.0 |
|
Advanced Payments from
Customers |
5.5 |
2.5 |
0.5 |
|
Amounts Owed for
Purchases of Goods or Services |
28.9 |
28.6 |
23.9 |
|
Total Trade Creditors |
34.3 |
31.1 |
24.4 |
|
Public Bodies |
2.5 |
9.1 |
6.9 |
|
Miscellaneous Debts |
2.4 |
0.0 |
2.0 |
|
Wages and Salaries
Payable |
1.1 |
1.0 |
1.0 |
|
Total Other Creditors |
6.0 |
10.1 |
9.8 |
|
Total Short Term Creditors |
50.2 |
48.8 |
41.6 |
|
Total Liabilities and Equity |
239.0 |
222.8 |
203.2 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
UK Pound |
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
NNA |
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.