|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LORAMENDI
SOCIEDAD COOPERATIVA |
|
|
|
|
Registered Office : |
P.I. Ali Gobeo Alibarra Kalea, 26 - Vitoria-Gasteiz - Álava |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
25.02.2004 |
|
|
|
|
Legal Form : |
Cooperative |
|
|
|
|
Line of Business : |
Engaged in Manufacturing and marketing
of machinery for the metallurgical industry |
|
|
|
|
No of Employees : |
140 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Spain |
A2 |
A2 |
|
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 |
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 |
|
Name |
LORAMENDI
SOCIEDAD COOPERATIVA |
|
NIF
/ Fiscal code: |
F01365550 |
|
Legal
form: |
Cooperative |
|
Status: |
Active |
|
Location: |
P.I.
ALI GOBEO ALIBARRA KALEA, 26 - VITORIA-GASTEIZ - ÁLAVA |
|
Telephone: |
945184300 |
|
Partners: |
|
|
|
AURRENAK
SOC.COOPERATIVA |
|
|
MONDRAGON
INVERSIONES SPE COOPERATIVA |
|
|
TRABAJADORES
EMPLEADOS DE LORAMENDI SOC. COOPERATIVA |
|
Activity: |
|
|
NACE: |
2891
- Manufacture of machinery for metallurgy |
|
Size: |
Large |
|
Commercial
scope: |
International |
|
Import
/ export: |
Import:
Yes, Export: Yes |
|
Employees: |
|||
|
. |
Financial
Year |
Number
of Employees |
. |
|
. |
2014 |
140 |
. |
|
|
Although its capacity to meet payment obligations shows no
difficulties at present, it may not last for long. |
|
Legal
Claims: |
No |
|
Business
trend: |
Favourable |
|
Prospects: |
Business
Consolidation |
|
Industry
situation: |
Maturity |
|
Economic-financial
data |
|||
|
. |
Financial
Year |
Turnover |
. |
|
. |
2012 |
73292362 |
. |
|
Total
investments: |
66145216 |
|
Unit: |
Euros |
|
It's a cooperative society constituted in 2004 par It is dedicated to the manufacture and marketing of machinery for the metallurgical industry and until now, it enjoys a good concept between the sources consulted par. According to the shown data, we consider that it may be related normally for credit in accordance with its structure. |
Enquiry Details |
|
|
NIF
/ Fiscal code |
00000000T |
|
Name |
LORAMENDI S COOP |
|
Address |
ALIBAROA 26/P.O. BOX 614 |
|
City |
VITORIA- GASTEIZ |
|
Province |
ALAVA |
|
Postcode |
01010 |
|
Telephone |
945184300 |
IDENTIFICATION |
|
|
Company
name / Name of the subject |
LORAMENDI
SOCIEDAD COOPERATIVA |
|
Legal
form |
Cooperative |
|
NIF
/ Fiscal code |
F01365550 |
|
Status |
Active |
|
Start
of activity |
25/02/2004 |
|
Name
of the maximum responsible |
IŃAKI
CORRAL EZKURRA |
|
Position
of the maximum responsible |
president |
|
Professional
address |
P.I.
ALI GOBEO ALIBARRA KALEA, 26 |
|
City |
VITORIA-GASTEIZ |
|
Province |
ÁLAVA |
|
Postcode |
01010 |
|
Telephone |
945184300 |
|
Fax |
945184304 |
|
Website |
|
|
Email |
|
Partners
|
||
|
Name |
Fiscal
code |
Participation
percentage |
|
AURRENAK
SOC.COOPERATIVA |
F01009166 |
|
|
MONDRAGON
INVERSIONES SPE COOPERATIVA |
F20182192 |
|
|
TRABAJADORES
EMPLEADOS DE LORAMENDI SOC. COOPERATIVA |
|
|
ACTIVITY |
|
|
NACE |
2891 |
|
Description
of the NACE code |
Manufacture
of machinery for metallurgy |
|
Comment
about the activity |
Manufacturing
and marketing of machinery for the metallurgical industry. |
|
Franchise |
No |
|
%
National commercial scope |
20% |
|
%
International commercial scope |
80% |
|
Comment
about the commercial scope |
Its
main markets of billing are China, Germany, USA, Mexico and India. |
|
Business
size |
Large |
|
Import |
Yes |
|
Export |
Yes |
|
Industry
situation |
Maturity |
|
Business
trend |
Favourable |
|
Prospects |
Business
Consolidation |
|
Employees |
|||
|
Year |
Number
of Employees |
Fixed
employees % |
Part
time employees % |
|
2014 |
140 |
|
|
|
According
to the sources consulted, it currently has a workforce of 140 employees. |
Payment Behaviour |
|
Normal |
|
According to the sources consulted, it meets normal
payment commitments. |
LEGAL CLAIMS |
|
According
to official sources, there are no legal claims registered under the subject's
name |
|
Banks |
|||
|
Bank
name |
Branch |
Address |
Telephone |
|
CAJA
LABORAL |
|
VITORIA |
|
(Public Sources)
Data in: Euros
|
ASSETS |
|
LIABILITIES |
||
|
Tangible
fixed assets |
7473138 |
|
Capital |
7657019 |
|
Transport |
|
|
Long
term creditors |
2259189 |
|
Machinery
and fittings |
|
|
Long
term debts with Banks |
|
|
Buildings
and constructions |
|
|
Short
term creditors |
48736129 |
|
Intangible
fixed assets |
|
|
Short
term debts with credit entities |
|
|
Stock |
15978999 |
|
Reserves |
2206925 |
|
Debtors |
30060413 |
|
Profit
or loss for the period |
5285954 |
|
Cash |
9956285 |
|
|
|
|
Inversiones
Financieras |
2609200 |
|
|
|
|
Periodificaciones
corto plazo |
67181 |
|
|
|
|
TOTAL
ASSETS |
66145216 |
|
TOTAL
LIABILITIES |
66145216 |
|
WORKING
CAPITAL |
|
|
|
|
|
SALES EVOLUTION |
||||
|
|
Financial
Year |
|
|
|
|
|
Financial
Year |
|
|
|
|
|
Financial
Year 2012 |
|
73292362 |
|
|
According
to the sources consulted, the financial situation of the reference business,
is considered normal. |
INVESTIGATION SUMMARY |
|
It's a cooperative society constituted in 2004. \par It is dedicated to the manufacture and marketing of machinery for the metallurgical industry and until now, it enjoys a good concept between the sources consulted par. According to the shown data, we consider that it may be related normally for credit in accordance with its structure. |
CONSULTED SOURCES |
|
Investigation,
Board of Administration (according to registry), Public institution, Chamber
of Commerce, Internal/external DB, Subject |
INTERVIEWED PERSON |
|
Information
obtained through indirect sources, since company officials refused to provide
details. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
UK Pound |
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.