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Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
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Name : |
RAYMETRICS S.A. |
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Registered Office : |
12 Papathanassiou & Hounta, 19002 Paiania, Attiki |
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Country : |
Greece |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.12.2002 |
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Com. Reg. No.: |
053208 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
· Manufacturer of search and navigation equipment · Engaged in designing, development and manufacturing of LIDAR systems for Atmospheric, Meteorological and Air Pollution Applications. · importer and trader of measurement, precision and control instruments |
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No. of Employees |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Greece |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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 15% 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 grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. 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. The economy contracted by 2.3% in 2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to about 8% in 2012. 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 has 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 push 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, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.
Source : CIA
Name RAYMETRICS
S.A.
ADDRESS: 12
PAPATHANASSIOU & HOUNTA
19002 PAIANIA
ATTIKI
GREECE
TELEPHONE: 30 2106655860
TELEFAX: 30 2106639031
E-MAIL
ADDRESS: georgoussis@raymetrics.gr
WEB ADDRESS: www.raymetrics.gr
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ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS
OTHERWISE STATED |
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STARTED: 2002 SALES: 911,049 |
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YEAR
INC: 2002 PROFIT: 55,224 |
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LEGAL FORM:
SOCIETE ANONYME NET
WORTH: 527,045 |
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REG
NO: 053208 NOM CAPITAL: 300,000 |
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GOVT GAZ
NO:12074 / 2002 ISS
CAPITAL: 300,000 |
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EMPLOYS: 5
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SIC: 3812 |
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ACTIVITY: MANUFACTURES SEARCH AND NAVIGATION
EQUIPMENT |
Nikolaos
Efstathios Kontos
chairman
Miltiadis Kyriakos
Michaloutsos
vice-chairman
George
Konstantinos Georgoussis
chief executive
Keith-Woolard
Keith Matthew
member
Ioanna Nikolaos
Mangina
Shareholder
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Alpha Bank A.E., Glyka Nera Branch
branch., 164 Lavriou Ave, Glyka Nera |
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15344, Greece. |
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Telephone: 30 2106655256 |
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EFG EUROBANK ERGASIAS S.A., Glyka Nera
Branch branch., 194-196 Lavriou |
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Ave & Konstantinoupoleos, Glyka
Nera 15354, Greece. |
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Telephone: 30 2106655650 |
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EXP. DATE
PAYING RECORD HIGH CREDIT NOW OWES
PAST DUE TERM LAST SALE |
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18/1/2014 SLOW90/240 153 153 153 30
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31/12/2013
PROMPT 480 0 0 30 30/11/2013 |
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11/12/2013
SLOW60/210 102 102 102 30
11/12/2012 |
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30/11/2013
PROMPT 480 480 0 30 30/10/2013 |
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11/11/2013
SLOW30/180 102 102 102 30
11/11/2012 |
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30/9/2013 SLOW60/150 420 0 0 30 30/9/2012 |
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30/9/2013 SLOW30/120 102 102 102 30
30/4/2013 |
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13/8/2013 SLOW60/150 420 0 0 30 13/8/2012 |
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13/8/2013 SLOW15/120 840 102 102 30
13/5/2013 |
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9/7/2013 SLOW60/150 420 0 0 30 9/7/2012 |
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9/7/2013 SLOW15/120 840 102 102 30
9/4/2013 |
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28/6/2013 SLOW60/150 420 0 0 30 28/6/2012 |
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28/6/2013 SLOW15/120 840 102 102 30
28/5/2013 |
Informants report that subject's payments are Slow but Correct
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PRINCIPALS ANTECEDENTS
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NAME: Nikolaos Efstathios Kontos |
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Also a director of DKS TEAM HOLDING
S.A.. |
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NAME: Miltiadis Kyriakos Michaloutsos |
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Also a director of SPEEDWELL CAPITAL
PARTNERS S.A.. |
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BACKGROUND |
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Business started Dec 3, 2002. |
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Subject moved from 4 Paramythias, 15354
Glyka Nera Attiki on Jul 23, 2010. |
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LEGAL FORM |
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Societe anonyme registered on Dec 3,
2002 for a period ending Dec 31, 2022. |
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Registration Number: 053208 |
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Government Gazette Number: 12074 / 2002 |
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Chamber of Commerce Number: 209716 |
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Tax Registration Number: 999641589 |
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On 18/11/2009 (Gov. Gaz. No. 13450/2009)
a change of subject's head office |
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was published. On 5/7/2010 (Gov. Gaz.
No. 07045/2010) a change of subject's |
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head office was published. |
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Nominal capital: 300,000. Issued
capital: 300,000. |
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Nominal capital is divided into: |
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100,000 shares of 3 each and fully
paid-up. |
The company is a subsidiary
of DKS TEAM HOLDING S.A. SOCIETE ANONYME,
IRAKLEIO, GREECE,
which holds 99.50% interest.
Parent began
operations 14 Dec 2012.
Ioanna Mangina
holds 0.50% of the voting capital.
Local Activity
Code: 2651
Local Activity
Code Type: STAKOD
Equivalent
to: NACE 1
Manufactures search and navigation equipment
Design, development
and mfg of LIDAR systems for Atmospheric,
Meteorological and
Air Pollution Applications. Exclusive imports and trade of measurement,
precision and control instruments , Details regarding subject's clientele are
not available.
Exports 95% to Brazil,
Chile, China, France, India, Japan, North Korea, Netherlands, Poland, Romania,
Serbia and Montenegro, South Africa, Spain, Taiwan, U S A
Normal exporting
terms are promissory notes
Imports 60% from
France, Germany, U K, U S A
Normal importing terms
are cash against documents
Subject reportedly
acts as agents for:
Licel, Germany
Owis, Germany
EMPLOYS: 5 as at
Sep 30, 2013 including 0 part-time staff.
The number of
employees varies according to needs.
The number of
employees peaks to 5.
Operates from
rented workshop, at heading address.
REGISTERED OFFICE:
At heading address.
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Fiscal Fiscal Fiscal |
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Dec
31,2010 Dec 31,2011 Dec 31,2012 |
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Turnover 1,088,982 583,899 911,049 |
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Pre-Tax
Profit
250,960 5,080 55,224 |
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Net
Worth 498,815 496,380 527,045 |
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Fixed
Assets
49,382 101,877 86,721 |
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Total
Assets
874,163 1,103,634 1,026,540 |
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Current
Assets
796,563 989,620 934,279 |
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Current
Liabilities
375,349 607,254 499,495 |
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Working
Capital
421,214 382,366 434,784 |
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Financial
Assets
2,600 |
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Intangibles 28,217 12,137 2,940 |
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Net Worth and
Total Assets are tangible figures shown after the deduction of |
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intangible
assets. |
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RATIOS |
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Dec
31,2010 Dec 31,2011 Dec 31,2012 |
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Current
Ratio (X) 2.12 1.63 1.87 |
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Solvency
Ratio (%)
75.25 122.34 94.77 |
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Fixed
Assets/Net Worth (%)
9.90 20.52 16.45 |
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Current Liabs/Net
Worth (%) 75.25 122.34 94.77 |
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Asset
Turnover (%)
124.57 52.91 88.75 |
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Sales / Net
Working Cap (X) 2.59 1.53 2.10 |
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Assets /
Sales (%)
80.27 189.01 112.68 |
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Profit
Margin (%)
23.05 0.87 6.06 |
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S/holders
Return (%)
50.31 1.02 10.48 |
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Return On
Assets (%)
28.71 0.46 5.38 |
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Abstract from individual fiscal balance
sheet as at Dec 31, 2012 |
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LIABILITIES ASSETS |
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Capital 300,000 Land/Buildings 18,795 |
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Retained
Profits 213,747 Plant/Machinery 188,391 |
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Misc
Reserves 13,298 Depreciation 120,465 |
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Net
Worth 527,045 Total Fixed Ass 86,721 |
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Misc
Fin'cl Ass 2,600 |
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Total Fin'cl Ass
2,600 |
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Misc
Intangible 2,940 |
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Total Intangible 2,940 |
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CURRENT LIABILITIES: CURRENT ASSETS: |
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Trade
Creditors 415,465 Stock 298,579 |
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Misc
Current Liabs 84,030 Work In Progress 45,054 |
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Trade Debtors
437,979 |
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Misc
Debtors 32,135 |
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Cash 120,532 |
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TOTAL
CURRENT 499,495 TOTAL CURRENT 934,279 |
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TOTAL LIABS
& NW 1,026,540 TOTAL ASSETS 1,026,540 |
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Profit & Loss Account from Jan 1,
2012 to Dec 31, 2012 |
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Net Sales 911,049 |
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Cost of Goods Sold 567,362 |
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Gross Profit 343,687 |
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Misc Operating Charges 381,730 |
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Misc Operating Income 125,911 |
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Net Operating Income 87,868 |
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Misc Financial Income 50,982 |
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Total Financial Income 50,982 |
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Interest Payable 3,185 |
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Misc Financial Expenses 80,441 |
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Total Financial Expenses 83,626 |
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Profit Before Taxes 55,224 |
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Income Tax 24,559 |
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Profit After Tax 30,665 |
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Net Profit 30,665 |
Subject is a long established, export oriented economic unit that employs
also 4 persons on a free-lance basis.
Subject operates mainly as a manufacturing firm, as its manufacturing
activities contribute by 95% to its total Net Sales.
Please note the information provided in this report was obtained from
official and publicly available sources.
Further information was not available.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.99 |
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UK Pound |
1 |
Rs.102.07 |
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Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.