MIRA INFORM REPORT

 

 

Report Date :

10.06.2014

 

IDENTIFICATION DETAILS

 

Name :

EVRO STIL DOO BITOLA

 

 

Registered Office :

Dovledjik bb 7000 Bitola

 

 

Country :

Macedonia

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

27.10.1999

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Retail sale in non-specialised stores

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

 

 

No. of Employees

21

 

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 :

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)

Macedonia

B2

B2

 

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

 

 

 

MACEDONIA ECONOMIC OVERVIEW

 

Since its independence in 1991, Macedonia has made significant progress in liberalizing its economy and improving its business environment, but has lagged the Balkan region in attracting foreign investment. Unemployment has remained consistently high at more than 30% since 2008, but may be overstated based on the existence of an extensive gray market, estimated to be between 20% and 45% of GDP, that is not captured by official statistics. Macedonia’s economy is closely linked to Europe as a customer for exports and source of investment, and has suffered as a result of prolonged weakness in the euro zone. Macedonia maintained macroeconomic stability through the global financial crisis by conducting prudent monetary policy, which keeps the domestic currency pegged against the euro, and by limiting fiscal deficits. The government has been loosening fiscal policy, however, and the budget deficit expanded to 4.2% of GDP in 2013. Macedonia achieved modest GDP growth in 2013 after a small contraction in 2012; inflation is under control

 

Source : CIA

 

 

 

Company name

 

Drushtvo za proizvodstvo trgovija i uslugi EVRO STIL Sashka i Slobodan uvoz izvoz Bitola DOO

International Name

 

EVRO STIL DOO BITOLA

 

 

Principal Address


Dovledjik bb
7000 Bitola
Macedonia
Tel.: +389-47-233-100
Fax: +389-47-233-470
eMail: info@evrostil.com.mk
Internet: www.evrostil.com.mk

Registered office: 


Dovledjik bb
7000 Bitola
Macedonia

Branch: 
Vladimir Nazor 61
7000 Bitola
Macedonia
Tel.: +389-47-233-100
Fax: +389-47-33-470

 

ICON number: 85835470
National ID:      5337798
VAT number:     MK4002999144796

 

 

 

COMPANY DETAILS 

 

Established:

1999

 

Registration:

27.10.1999
Main Court Bitola
MK

 

Legal Form:

Limited Liability Company

 

Capital:

Nominal capital:

MKD 22,320,543.00

 

 

 

Shareholders

 

 

Full Name

Function

Address

Equity

RAJKOSKA Zorka

Partner



Macedonia

25.56% 

RAJKOSKI Rajko

Partner



Macedonia

25.56% 

RAJKOSKI Slobodan

Partner



Macedonia

24.43% 

VELOVSKA Sashka

Partner



Macedonia

24.43% 

 

Management

 

 

Full Name

Function

Address

VELOVSKA Sashka

Managing director



Macedonia

 

 

KEY DATA ON OPERATIONS

 

Subject of Operation:

NACE
  4710 Retail sale in non-specialised stores
  4778 Other retail sale of new goods in specialised stores

NACE codes given are based on the most recent NACE Revision 2.

 

 

Workforce

 

 

 

2013

2012

2011

2010

Total workforce

21

19

16

12

 

 

FINANCIAL INFORMATION

 

Financials:


Amounts shown in Euro (EUR) 

 

Balance sheet

2013

2012

2011

2010

 

Unpaid issued capital

0,00

0,00

0,00

0,00

 

Fixed assets

321.958,95
+15,46%

278.846,20
+28,68%

216.698,68
+30,54%

165.998,65

 

Tangible fixed assets

321.958,95
+15,46%

278.846,20
+28,68%

216.698,68
+30,54%

165.998,65

 

Intangible assets

 

 

0,00

0,00

 

Long-term investments

 

 

0,00

0,00

 

Goodwill

0,00

0,00

 

 

 

Prepaid expenses, deferred income, similar accounts

0,00

0,00

 

 

 

Current assets

1.660.115,40
+19,89%

1.384.644,33
+4,00%

1.331.339,22
+24,08%

1.072.935,27

 

Inventory

975.306,40
+56,70%

622.419,59
-27,64%

860.168,75
+70,79%

503.639,40

 

Prepaid expenses

0,00

0,00

0,00

0,00

 

TOTAL ASSETS

1.982.074,36
+19,15%

1.663.490,52
+7,46%

1.548.037,90
+24,95%

1.238.933,92

 

Equity capital

1.860.131,32
+16,62%

1.595.070,81
+27,82%

1.247.859,09
+8,09%

1.154.483,38

 

Subscribed and paid capital

362.185,67
-0,21%

362.935,66
0,00%

362.935,66
0,00%

362.935,66

 

Profit of the year

268.356,65
-22,71%

347.211,72
+271,84%

93.375,67
-38,25%

151.224,86

 

Loss of the year

0,00

0,00

0,00

0,00

 

TOTAL LIABILITIES

121.943,03
+96,05%

62.200,89
-78,19%

285.209,09
+265,55%

78.021,41

 

Long-term liabilities

0,00

0,00

0,00

 

 

Short-term liabilities

121.943,03
+96,05%

62.200,89
-78,19%

285.209,09
+265,55%

78.021,41

 

Subsidies

0,00
-100,00%

6.218,81
-58,46%

14.969,72
+132,84%

6.429,12

 

Profit and loss

2013

2012

2011

2010

 

Total operating expenses

2.825.268,62
+3,51%

2.729.469,64
+36,61%

1.997.937,35
-20,01%

2.497.862,86

 

Expenses on financial transactions (financial expenditures)

 

 

0,00

0,00

 

Extraordinary expenses

 

 

0,00

0,00

 

Profit before taxation

268.433,51
-22,75%

347.485,25
+270,81%

93.708,96
-38,08%

151.350,42

 

Taxes,duties and similar expenses

76,87
-71,90%

273,53
-17,93%

333,28
+165,44%

125,56

 

Profit after taxation

268.356,65
-22,71%

347.211,72
+271,84%

93.375,67
-38,25%

151.224,86

 

Total operating income

3.093.702,13
+0,54%

3.076.954,89
+47,11%

2.091.646,31
-21,05%

2.649.213,28

 

Income from financial transactions (financial income)

 

 

0,00

0,00

 

Extraordinary income (extraordinary benefit)

 

 

0,00

0,00

 

Loss after taxation

0,00

0,00

0,00

0,00

 

Approximate Exchange Rates:

2013: 0,753 EUR = 1 USD
2012: 0,7777 EUR = 1 USD
2011: 0,7182 EUR = 1 USD
2010: 0,7533 EUR = 1 USD
2009: 0,7173 EUR = 1 USD
2008: 0,6799 EUR = 1 USD
2007: 0,76 EUR = 1 USD

 

 

Macedonian IBS:

Amounts shown in Euro (EUR) 

 

BALANCE SHEET

 

 

ASSETS

2013

2012

2011

2010

 

Non-current assets

321.958,95
+15,46%

278.846,20
+28,68%

216.698,68
+30,54%

165.998,65

 

Intangible assets

 

 

0,00

0,00

 

Goodwill

0,00

0,00

 

 

 

Property, plant and equipment

321.958,95
+15,46%

278.846,20
+28,68%

216.698,68
+30,54%

165.998,65

 

Financial assets

 

 

0,00

0,00

 

Deferred tax assets (long term)

0,00

0,00

 

 

 

Current assets

1.660.115,40
+19,89%

1.384.644,33
+4,00%

1.331.339,22
+24,08%

1.072.935,27

 

Inventories

975.306,40
+56,70%

622.419,59
-27,64%

860.168,75
+70,79%

503.639,40

 

Deferred tax assets (short term)

0,00

0,00

0,00

0,00

 

Total assets

1.982.074,36
+19,15%

1.663.490,52
+7,46%

1.548.037,90
+24,95%

1.238.933,92

 

EQUITY AND LIABILITIES

2013

2012

2011

2010

 

Equity

1.860.131,32
+16,62%

1.595.070,81
+27,82%

1.247.859,09
+8,09%

1.154.483,38

 

Subscribed capital

362.185,67
-0,21%

362.935,66
0,00%

362.935,66
0,00%

362.935,66

 

Nominal Capital

362.185,67
-0,21%

362.935,66
0,00%

362.935,66
0,00%

362.935,66

 

unpaid

0,00

0,00

0,00

0,00

 

Net result of the year

268.356,65
-22,71%

347.211,72
+271,84%

93.375,67
-38,25%

151.224,86

 

Non current liabilities

0,00

0,00

0,00

 

 

Current liabilities

121.943,03
+96,05%

62.200,89
-78,19%

285.209,09
+265,55%

78.021,41

 

Total equity and liabilities

1.982.074,36
+19,15%

1.663.490,52
+7,46%

1.548.037,90
+24,95%

1.238.933,92

 

PROFIT AND LOSS

2013

2012

2011

2010

 

Revenue/Sales

3.093.702,13
+0,54%

3.076.954,89
+47,11%

2.091.646,31
-21,05%

2.649.213,28

 

Operating Revenue

3.093.702,13
+0,54%

3.076.954,89
+47,11%

2.091.646,31
-21,05%

2.649.213,28

 

Operating Expenses

2.825.268,62
+3,51%

2.729.469,64
+36,61%

1.997.937,35
-20,01%

2.497.862,86

 

Profit from operations

268.433,51
-22,75%

347.485,25
+270,81%

93.708,96
-38,08%

151.350,42

 

Finance income

 

 

0,00

0,00

 

Finance costs

 

 

0,00

0,00

 

Financial Result

 

 

0,00

0,00

 

Extraordinary income

 

 

0,00

0,00

 

Extraordinary expenses

 

 

0,00

0,00

 

Extraordinary result

 

 

0,00

0,00

 

Profit before tax

268.433,51
-22,75%

347.485,25
+270,81%

93.708,96
-38,08%

151.350,42

 

Income tax expense

76,87
-71,90%

273,53
-17,93%

333,28
+165,44%

125,56

 

Profit after tax

268.356,65
-22,71%

347.211,72
+271,84%

93.375,67
-38,25%

151.224,86

 

Net profit for the year

268.356,65
-22,71%

347.211,72
+271,84%

93.375,67
-38,25%

151.224,86

 

Bankers:

Stopanska Banka AD Skopje - Account no. 000200000031032523
1000 Skopje, 11-ti Oktomvri 7

 

 

Ratios

 

 

2013

2012

2011

2010

Current ratio
(Short-term assets / Short term liabilities)

13,61

22,26

4,67

13,75

Quick ratio
[(Short-term assets - Inventory) / Short-term liabilities]

5,62

12,25

1,65

7,30

Return on assets ( ROA ), in%
(Profit after tax / Total assets)*100

13,54

20,87

6,03

12,21

Return on equity (ROE), in %
(Profit after tax / Equity capital)*100

14,43

21,77

7,48

13,10

Return on sales ( ROS ), in%
(Profit after tax / Sales)*100

8,67

11,28

4,46

5,71

Equity ratio, in %
(Equity capital / Total Liabilities and Funds) *100

93,85

95,89

80,61

93,18

 

 

ADDITIONAL INFORMATION

 

Additional information:

VAT number: MK4002999144796

 

Contact With Company:

On 29.05.2014, all information included in the report was confirmed in official sources by us and not become from the company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.20

UK Pound

1

Rs.99.52

Euro

1

Rs.80.83

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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

 

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.