MIRA
INFORM REPORT
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Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HASTINIK SA |
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Registered Office : |
C/ Solsona, 3 Polig
Ind. La Florida, Santa Perpetua De Mogoda, 08130 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
A08457335 |
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Legal Form : |
Public Independent |
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Line of Business : |
Wholesale of metals and metal ores |
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No. of Employees : |
45 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SPAIN - ECONOMIC OVERVIEW
Spain experienced a prolonged
recession in the wake of the global financial crisis. GDP contracted by 3.7% in
2009, ending a 16-year growth trend, and continued contracting through most of
2013. Economic growth resumed in late 2013, albeit only modestly, as credit
contraction in the private sector, fiscal austerity, and high unemployment
continued to weigh on domestic consumption and investment. Exports, however,
have been resilient throughout the economic downturn, partially offsetting
declines in domestic consumption and helped to bring Spain's current account
into surplus in 2013 for the first time since 1986. The unemployment rate rose
from a low of about 8% in 2007 to more than 26% in 2013, straining Spain's
public finances as spending on social benefits increased while tax revenues
fell. Spain’s budget deficit peaked at 11.4% of GDP in 2009. Spain gradually reduced
the deficit to just under 7% of GDP in 2013, slightly above the 6.5% target
negotiated between Spain and the EU. Public debt has increased substantially –
from 60.1% of GDP in 2010 to 93.4% in 2013. Rising labor productivity,
moderating labor costs, and lower inflation have helped to improve foreign
investor interest in the economy and to reduce government borrowing costs. The
government's ongoing efforts to implement reforms - labor, pension, health,
tax, and education - are aimed at supporting investor sentiment. The government
also has shored up struggling banks exposed to Spain's depressed domestic
construction and real estate sectors by successfully completing an EU-funded
restructuring and recapitalization program in December 2013
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Source : CIA |
Company name & address
HASTINIK SA
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Business Description
Wholesale of metals and metal ores
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
423520 -
Coal and Other Mineral and Ore Merchant Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Eduardo Cepeda Murciego |
Joint Manager |
|
Carlos Girones Teixidor |
Joint Manager |
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Cepeda Murciego
Eduardo |
Administrator |
Registered No.(ESP): A08457335
1 - Profit & Loss Item Exchange Rate: USD
1 = EUR 0.7655126
2 - Balance Sheet Item Exchange Rate: USD 1 =
EUR 0.7480003
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ANZSIC 2006 Codes: |
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3322 |
- |
Metal and Mineral Wholesaling |
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ISIC Rev 4 Codes: |
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4662 |
- |
Wholesale of metals and metal ores |
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NACE Rev 2 Codes: |
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4672 |
- |
Wholesale of metals and metal ores |
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NAICS 2012 Codes: |
||
|
423520 |
- |
Coal and Other Mineral and Ore Merchant Wholesalers |
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US SIC 1987: |
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505 |
- |
Metals and Minerals, Except Petroleum |
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UK SIC 2007: |
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4672 |
- |
Wholesale of metals and metal ores |
Wholesale of metals and metal ores
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Location |
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Tel: |
+(34) 972338950 |
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Executives Report
Executives
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Joint Manager |
Administration Executive |
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Administrator |
Administration Executive |
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Joint Manager |
Administration Executive |
Annual Profit & Loss
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12
Months |
12
Months |
12
Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Charges |
36.8 |
40.9 |
37.4 |
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Supplies |
28.8 |
32.1 |
28.5 |
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Goods Consumption |
28.1 |
31.4 |
27.5 |
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Consumption of Raw
Materials |
0.0 |
0.0 |
0.0 |
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Miscellaneous External
Expenditures |
0.6 |
0.7 |
1.0 |
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Staff Costs |
2.9 |
3.2 |
2.8 |
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Wages and Salaries |
2.4 |
2.7 |
2.3 |
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Social Security Costs |
0.5 |
0.6 |
0.5 |
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Depreciation |
0.2 |
0.5 |
0.6 |
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Allowance for Trade Operations |
0.1 |
0.1 |
0.7 |
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Stock Provision
Variation |
0.0 |
0.0 |
0.7 |
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Variation of Other
Trade Provisions |
0.1 |
0.1 |
0.1 |
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Other Operating Charges |
4.2 |
4.0 |
4.0 |
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External Services |
4.0 |
3.9 |
3.8 |
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Taxes |
0.2 |
0.1 |
0.1 |
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Operating Benefits |
1.2 |
2.4 |
2.0 |
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Financials and Similar Charges |
0.2 |
0.1 |
0.1 |
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Due to Liabilities
With Group Companies |
0.2 |
0.0 |
0.0 |
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Due to Other
Liabilities |
0.1 |
0.0 |
0.0 |
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Exchange Losses |
0.0 |
0.0 |
- |
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Net Financial Income |
0.0 |
0.3 |
0.1 |
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Profit From Ordinary Activities |
1.3 |
2.7 |
2.1 |
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Losses From Assets and Securities Portfolio |
- |
- |
0.0 |
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Extraordinary Profit |
0.0 |
0.0 |
0.1 |
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Profit Before Taxes |
1.3 |
2.7 |
2.2 |
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Corporation Tax |
0.4 |
0.8 |
0.7 |
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Financial Year Result (Profit) |
0.9 |
1.9 |
1.6 |
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Income |
37.7 |
42.7 |
38.9 |
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Net Total Sales |
36.6 |
41.6 |
38.0 |
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Sales |
36.6 |
41.6 |
38.0 |
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Miscellaneous Operating Income |
0.8 |
0.8 |
0.7 |
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Auxiliary Income From
Current Management |
0.8 |
0.8 |
0.7 |
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Income From Miscellaneous Interests |
0.3 |
0.3 |
0.2 |
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From Group Companies |
0.1 |
0.3 |
- |
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Miscellaneous
Interests |
0.2 |
0.1 |
0.2 |
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Gains from Exchange Rate |
- |
- |
0.0 |
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Profit on Disposal of Assets |
- |
0.0 |
- |
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Extraordinary Income |
0.0 |
0.0 |
0.1 |
Annual Balance
Sheet
Financials in: USD (mil)
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Shareholders By Uncalled Subscribed Capital |
- |
- |
0.0 |
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Land and Construction |
14.5 |
14.4 |
15.1 |
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Technical
Installations and Machinery |
0.7 |
0.3 |
0.4 |
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Other Installations,
Tools, and Furniture |
0.4 |
0.2 |
0.2 |
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Other Tangible Assets |
0.1 |
0.0 |
0.0 |
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Total Tangible Fixed Assets |
15.6 |
14.9 |
15.7 |
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Receivables from Group
Companies |
5.1 |
3.9 |
0.2 |
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Long-Term Securities
Portfolio |
0.0 |
- |
- |
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Long-Term Guarantees and
Deposits |
0.0 |
0.1 |
0.1 |
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Financial Investments |
5.1 |
4.0 |
0.2 |
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Total Fixed Assets |
20.8 |
18.9 |
16.0 |
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Goods for Resale |
9.6 |
8.7 |
9.8 |
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Total Stocks |
9.6 |
8.7 |
9.8 |
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Trade Debtors |
9.1 |
10.1 |
12.2 |
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Receivables, Group
Companies |
0.2 |
0.2 |
0.0 |
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Staff |
0.0 |
0.0 |
0.0 |
|
Public Bodies |
0.0 |
0.0 |
0.0 |
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Total Debtors |
9.3 |
10.3 |
12.3 |
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Receivables from Group
Companies |
0.0 |
- |
0.0 |
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Short-Term Securities
Portfolio |
2.6 |
0.0 |
0.5 |
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Other Receivables |
- |
0.0 |
- |
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Short-Term Guarantees
and Deposits |
3.4 |
6.9 |
9.5 |
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Total Short-Term Investments |
6.1 |
6.9 |
10.0 |
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Cash |
1.2 |
2.2 |
1.9 |
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Total Current Assets |
26.3 |
28.0 |
34.1 |
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Total Assets |
47.0 |
46.9 |
50.1 |
|
Legal Reserve |
0.0 |
0.0 |
0.0 |
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Miscellaneous Reserves |
33.3 |
31.9 |
32.4 |
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Total Reserves |
33.3 |
31.9 |
32.4 |
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Profit or Loss for the Financial Year |
0.9 |
1.8 |
1.6 |
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Total Equity |
34.7 |
33.8 |
34.1 |
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Long-Term Liabilities
from Capital Leases |
0.1 |
0.1 |
0.2 |
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Total Amounts Owed to Credit Institutions |
0.1 |
0.1 |
0.2 |
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Amounts Owed to Group
Companies |
6.0 |
5.9 |
3.1 |
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Total Debts with Group or Affiliated Companies |
6.0 |
5.9 |
3.1 |
|
Other Creditors |
- |
- |
3.0 |
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Long-Term Payables to
Public Bodies |
0.1 |
0.1 |
0.2 |
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Total Other Creditors |
0.1 |
0.1 |
3.2 |
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Total Long Term Liabilities |
6.2 |
6.1 |
6.4 |
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Loans and Other
Liabilities |
0.9 |
1.1 |
0.9 |
|
Short-Term Liabilities
from Capital Leases |
0.1 |
0.1 |
0.2 |
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Total Amounts Owed to Credit Institutions |
1.0 |
1.1 |
1.1 |
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Amounts Owed to Group
Companies |
1.3 |
0.2 |
0.1 |
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Total Short-Term Amounts Owed to Group and Associa |
1.3 |
0.2 |
0.1 |
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Advanced Payments from
Customers |
- |
- |
0.0 |
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Amounts Owed for Purchases
of Goods or Services |
3.1 |
4.9 |
7.6 |
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Total Trade Creditors |
3.1 |
4.9 |
7.6 |
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Public Bodies |
0.5 |
0.6 |
0.6 |
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Wages and Salaries
Payable |
0.2 |
0.2 |
0.2 |
|
Total Other Creditors |
0.7 |
0.8 |
0.8 |
|
Total Short Term Creditors |
6.1 |
7.0 |
9.6 |
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Total Liabilities and Equity |
47.0 |
46.9 |
50.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.77 |
|
|
1 |
Rs.99.01 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.