MIRA
INFORM REPORT
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Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
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Name : |
PEPE JEANS SL |
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Registered Office : |
Crta. Laurea Miro, 403-405, Sant Feliu De Llobregat, 08980 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1998 |
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Com. Reg. No.: |
B61663555 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Wholesaler of Clothing and Footwear. |
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No. of Employees |
780 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Spain |
A2 |
A2 |
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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 |
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
|
Source : CIA |
Company name & address
Pepe Jeans Sl
Crta. Laurea
Miro, 403-405
Sant Feliu De
Llobregat, 08980
Spain
Tel: +(34) 934961455
Fax: +(34) 936327525
Web: www.pepejeans.com
synthesis
Employees: 780
Company Type: Private
Parent Company
Corporate Family: 9 Companies
Incorporation Date: 1998
Auditor: Pricewaterhousecoopers
Auditores Sl
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting Currency: Euro
Annual Sales:
244.9 1
Net Income:
13.8
Total Assets: 369.1
Business
Description
Wholesaler of
clothing and footwear
Industry
Industry
Clothing and Apparel Wholesale
ANZSIC 2006: 3712 - Clothing and Footwear Wholesaling
ISIC Rev 4: 4641 - Wholesale of textiles, clothing
and footwear
NACE Rev 2: 4642 - Wholesale of clothing and footwear
NAICS 2012: 424340 - Footwear Merchant Wholesalers
UK SIC 2007: 4642 - Wholesale of clothing and footwear
US SIC 1987: 5139 - Footwear
Key Executives
|
Name |
Title |
|
Revuelta Jose Diaz Rato |
Member Of The Board, President |
|
Midgley Nigel |
Financial Director |
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Sara Estalella Malet |
Non Consellor Assistant
Secretary |
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Xavier Camps Alfaro |
Joint Attorney |
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Vicente Castellano Ortega |
Member Of The Executive Comm. |
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7566
Corporate
Overview
Location
Crta. Laurea
Miro, 403-405
Sant Feliu De
Llobregat, 08980
Spain
Tel: +(34) 934961455
Fax: +(34) 936327525
Sales EUR(mil): 190.6
Assets EUR(mil): 279.2
Employees: 780
Fiscal Year End: 31-Dec-2012
Industry: Footwear
Incorporation
Date: 1998
Company Type: Private Parent Company
Quoted Status: Not Quoted
Registered
No.(ESP): B61663555
Member Of The Executive
Comm., President Of The Executive Comm.:
Carlos Vicente
Ortega Cedron
Industry Codes
ANZSIC 2006
Codes:
3712 - Clothing
and Footwear Wholesaling
ISIC Rev 4 Codes:
4641 - Wholesale
of textiles, clothing and footwear
NACE Rev 2 Codes:
4642 - Wholesale
of clothing and footwear
NAICS 2012 Codes:
424340 - Footwear Merchant Wholesalers
US SIC 1987:
5139 - Footwear
UK SIC 2007:
4642 - Wholesale of clothing and footwear
Business Description
Wholesaler of
clothing and footwear
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Corporate Family |
Corporate Structure News: |
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Pepe
Jeans Sl |
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Pepe Jeans Sl |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Sant Feliu De Llobregat, Barcelona |
Spain |
Clothing and Apparel Wholesale |
244.9 |
780 |
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Subsidiary |
Lisboa, Lisboa |
Portugal |
Clothing and Apparel Wholesale |
19.1 |
208 |
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Subsidiary |
Paris |
France |
Clothing and Apparel Wholesale |
15.8 |
74 |
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Subsidiary |
Milano, Milano |
Italy |
Clothing and Apparel Stores |
5.7 |
46 |
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Subsidiary |
Lisboa, Lisboa |
Portugal |
Miscellaneous Store Retailers |
2.1 |
40 |
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Subsidiary |
Ciudad De Mexico, Distrito Federal |
Mexico |
Clothing and Apparel Wholesale |
15.6 |
22 |
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Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Clothing and Apparel Wholesale |
123.2 |
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Subsidiary |
Luynes |
France |
Clothing and Apparel Wholesale |
4.7 |
14 |
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Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Banking |
2.0 |
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Executive report
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Board of Directors |
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Member Of The Board |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Member Of The Executive Comm. |
Director/Board Member |
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Member Of The Board, President |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Member Of The Executive Comm., President Of The Executive
Comm. |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Joint Attorney, Member Of The Executive Comm. |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Executives |
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Member Of The Board, President |
President |
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Member Of The Executive Comm., President Of The Executive
Comm. |
President |
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Managing Director |
Managing Director |
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Non Consellor Assistant Secretary |
Administration Executive |
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Non Consellor Secretary |
Administration Executive |
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Non Consellor Secretary |
Administration Executive |
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Financial Director |
Finance Executive |
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Joint Attorney |
Legal Executive |
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Joint Attorney, Member Of The Executive Comm. |
Legal Executive |
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Annual Profit
& Loss
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period
Length |
12
Months |
12
Months |
12
Months |
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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 |
285.4 |
280.3 |
239.1 |
|
Supplies |
144.4 |
138.7 |
111.5 |
|
Goods
Consumption |
144.4 |
138.7 |
111.5 |
|
Staff Costs |
37.5 |
38.8 |
33.4 |
|
Wages and
Salaries |
29.9 |
31.3 |
26.0 |
|
Social
Security Costs |
7.6 |
7.5 |
7.3 |
|
Depreciation |
4.7 |
5.0 |
4.8 |
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Allowance for Trade Operations |
1.1 |
1.2 |
-0.5 |
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Stock
Provision Variation |
-0.8 |
1.1 |
0.0 |
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Losses
from Unrecovered Receivables |
0.9 |
0.0 |
-0.2 |
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Variation
of Other Trade Provisions |
1.1 |
0.0 |
-0.3 |
|
Other Operating Charges |
77.5 |
79.6 |
69.7 |
|
External
Services |
77.1 |
79.3 |
69.5 |
|
Taxes |
0.4 |
0.3 |
0.2 |
|
Operating Benefits |
9.7 |
19.6 |
20.5 |
|
Financials and Similar Charges |
11.3 |
7.9 |
5.7 |
|
Due to
Liabilities With Group Companies |
5.1 |
4.1 |
2.5 |
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Due to
Other Liabilities |
6.2 |
3.8 |
3.2 |
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Changes in Financial Investment
Provisions |
4.8 |
5.5 |
8.6 |
|
Net Financial Income |
8.1 |
9.4 |
- |
|
Profit From Ordinary Activities |
17.8 |
29.0 |
7.8 |
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Changes in Provisions for Assets |
2.5 |
2.6 |
5.5 |
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Losses From Assets and Securities Portfolio |
- |
- |
0.1 |
|
Profit Before Taxes |
15.5 |
26.5 |
2.3 |
|
Corporation Tax |
1.6 |
1.1 |
0.3 |
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Financial Year Result (Profit) |
13.8 |
25.4 |
2.0 |
|
Income |
299.2 |
305.7 |
241.1 |
|
Net Total Sales |
244.9 |
253.0 |
217.3 |
|
Sales |
239.2 |
248.1 |
212.7 |
|
Rendering
of Services |
5.7 |
4.9 |
4.6 |
|
Miscellaneous Operating Income |
29.9 |
29.8 |
22.1 |
|
Auxiliary
Income From Current Management |
29.9 |
29.8 |
22.1 |
|
Income From Equity Investment |
20.8 |
21.2 |
- |
|
In Group
Companies |
20.8 |
21.2 |
- |
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Income From Miscellaneous
Interests |
2.2 |
0.9 |
0.8 |
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From Group
Companies |
1.8 |
0.8 |
0.8 |
|
Miscellaneous
Interests |
0.5 |
0.1 |
0.1 |
|
Gains from Exchange Rate |
1.2 |
0.7 |
0.8 |
|
Negative Financial Results |
- |
- |
12.7 |
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Capital Grants Transferred to
Profit and Loss |
0.2 |
0.1 |
0.1 |
|
Negative Extraordinary Results |
2.4 |
2.5 |
5.4 |
Annual Balance
Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Research
and Development Costs |
- |
- |
0.1 |
|
Concessions,
Patents, Trademarks |
0.8 |
0.8 |
0.8 |
|
Payments
on Account |
1.4 |
1.6 |
- |
|
Total Intangible Fixed Assets |
2.2 |
2.4 |
1.0 |
|
Technical
Installations and Machinery |
0.3 |
0.3 |
0.3 |
|
Other Installations,
Tools, and Furniture |
11.0 |
11.0 |
12.2 |
|
Tangible
Fixed Assets Under Construction |
0.2 |
0.3 |
1.6 |
|
Other
Tangible Assets |
0.9 |
0.9 |
1.0 |
|
Total Tangible Fixed Assets |
12.4 |
12.5 |
15.1 |
|
Investments
in Group Companies |
153.0 |
151.6 |
157.9 |
|
Receivables
from Group Companies |
36.2 |
9.9 |
13.3 |
|
Investments
in Associated Companies |
0.0 |
0.0 |
0.0 |
|
Long-Term
Guarantees and Deposits |
1.8 |
1.8 |
1.7 |
|
Financial Investments |
191.0 |
163.3 |
172.8 |
|
Total Fixed Assets |
205.6 |
178.1 |
188.9 |
|
Goods for
Resale |
39.3 |
34.8 |
27.1 |
|
Total Stocks |
39.3 |
34.8 |
27.1 |
|
Trade
Debtors |
49.7 |
57.4 |
52.2 |
|
Receivables,
Group Companies |
37.4 |
25.4 |
18.3 |
|
Other
Debtors |
9.1 |
7.7 |
5.4 |
|
Staff |
0.1 |
0.1 |
0.1 |
|
Public
Bodies |
24.3 |
18.0 |
6.9 |
|
Total Debtors |
120.6 |
108.6 |
82.9 |
|
Receivables
from Group Companies |
- |
14.3 |
11.3 |
|
Total Short-Term Investments |
- |
14.3 |
11.3 |
|
Cash |
3.6 |
2.8 |
1.9 |
|
Total Current Assets |
163.5 |
160.4 |
123.2 |
|
Total Assets |
369.1 |
338.5 |
312.1 |
|
Legal
Reserve |
0.2 |
0.2 |
0.2 |
|
Miscellaneous
Reserves |
32.9 |
5.9 |
3.6 |
|
Capital
Adjustment to Euros |
0.0 |
0.0 |
0.0 |
|
Total Reserves |
33.1 |
6.1 |
3.9 |
|
Profit or Loss for the Financial
Year |
14.2 |
23.7 |
2.3 |
|
Total Equity |
48.0 |
30.5 |
6.9 |
|
Capital
Grants |
0.3 |
0.3 |
0.3 |
|
Total Deferred Income |
0.3 |
0.3 |
0.3 |
|
Loans and
Other Liabilities |
53.7 |
66.7 |
23.5 |
|
Total Amounts Owed to Credit
Institutions |
53.7 |
66.7 |
23.5 |
|
Amounts
Owed to Group Companies |
111.8 |
114.0 |
109.5 |
|
Total Debts with Group or
Affiliated Companies |
111.8 |
114.0 |
109.5 |
|
Long-Term
Guarantees and Deposits Received |
- |
- |
72.5 |
|
Long-Term
Payables to Public Bodies |
0.4 |
0.5 |
0.9 |
|
Total Other Creditors |
0.4 |
0.5 |
73.4 |
|
Total Long Term Liabilities |
166.0 |
181.2 |
206.4 |
|
Loans and
Other Liabilities |
86.3 |
49.2 |
24.6 |
|
Total Amounts Owed to Credit
Institutions |
86.3 |
49.2 |
24.6 |
|
Amounts
Owed to Group Companies |
14.3 |
21.5 |
35.6 |
|
Total Short-Term Amounts Owed to
Group and Associa |
14.3 |
21.5 |
35.6 |
|
Advanced
Payments from Customers |
0.3 |
0.2 |
0.0 |
|
Amounts
Owed for Purchases of Goods or Services |
39.3 |
46.5 |
28.9 |
|
Total Trade Creditors |
39.6 |
46.7 |
28.9 |
|
Public
Bodies |
3.1 |
1.1 |
1.5 |
|
Wages and
Salaries Payable |
6.6 |
4.4 |
3.4 |
|
Total Other Creditors |
9.6 |
5.4 |
4.9 |
|
Provisions |
5.0 |
3.7 |
4.5 |
|
Total Short Term Creditors |
154.8 |
126.6 |
98.5 |
|
Total Liabilities and Equity |
369.1 |
338.5 |
312.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.08 |
|
UK Pound |
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.