MIRA INFORM REPORT

 

 

Report Date :

28.10.2014

 

IDENTIFICATION DETAILS

 

Name :

EKIN S COOP - EKIN

 

 

Registered Office :

Arriagane Industrialdea s/n (Barrio Boroa) - Amorebieta Etxano - Vizcaya

 

 

Country :

Spain

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

30.06.1963

 

 

Legal Form :

Cooperative

 

 

Line of Business :

Manufacture of tools

 

 

No. of Employees :

400

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 and address

 

 

Name

 

EKIN S COOP - EKIN

 

NIF / Fiscal code:

 

F48034599

 

Legal form:

 

Cooperative

 

Status:

 

Active

 

Location:

 

Arriagane Industrialdea s/n (Barrio Boroa) - Amorebieta Etxano - Vizcaya

 

Type of professional premises: Leased

 

Telephone:

 

946731112

 

Number of Branches:

 

1

 

Branch ownership:

 

0 in right of property 1 in renting premises

 

Real estate of partners:

 

NO

 

Activity:

 

 

NACE:

 

2573 - Manufacture of tools

 

Size:

 

Medium

 

Commercial scope:

 

International

 

Import / export:

 

Import: No, Export: No

 

 

Economic-financial data

 

.

 

Financial Year

 

Turnover

 

.

 

.

 

2013

 

2500000

 

.

 

 

Total investments:

 

1600000

 

Unit:

 

Euros

 

Guarantees:

 

 

Properties Registered:

 

NO

 

INVESTIGATION SUMMARY

 

Cooperative dedicated to the manufacture of broaching tools and cold rolled for the sectors of automotive, aerospace, energy production and agriculture. Its commercial development is acceptable

 

 

Enquiry Details

 

NIF / Fiscal code

 

00000000T

 

Name

 

EKIN S COOP

 

Address

 

B BOROA S/N 48340 AMOREBIETA BIZKALA

 

Province

 

VIZCAYA

 

Telephone

 

000000000

 

 

IDENTIFICATION

 

Company name / Name of the subject

 

EKIN S COOP

 

Acronym

 

EKIN

 

Legal form

 

Cooperative

 

NIF / Fiscal code

 

F48034599

 

Status

 

Active

 

Start of activity

 

30/06/1963

 

Name of the maximum responsible

 

IŃAKI GALLETEBEITIA

 

Position of the maximum responsible

 

CHAIRMAN

 

Professional address

 

Arriagane Industrialdea s/n (Barrio Boroa)

 

City

 

Amorebieta Etxano

 

Province

 

Vizcaya

 

Postcode

 

48340

 

Type of premises

 

Leased

 

Telephone

 

946731112

 

Fax

 

946300451

 

Website

 

www.ekin.es

 

Email

 

ekin@ekin.es

 

 

 

Branch Offices

 

Branch

 

Used for / as

 

Type of premises

 

Polígono Zubiate pab 2 48330 Lemoa (Vizcaya)

 

DELEGACION

 

Leased

 

 

ACTIVITY

 

NACE

 

2573

 

Description of the NACE code

 

Manufacture of tools

 

Comment about the activity

 

It is engaged in the manufacture of broaching tools for cold rolled sectors of automotive, aerospace, power generation and agriculture Arriagane Industrialdea s / n (Barrio Boro) 48340 Etxano Amorebieta (Vizcaya), registered office, factory, warehouse, other facilities It has offices in Mexico, Brazil and India Integrated in Ner Group (Nuevo Estilo de Relaciones)

 

Franchise

 

No

 

% International commercial scope

 

100%

 

Business size

 

Medium

 

Import

 

No

 

Export

 

No

 

Industry situation

 

Maturity

 

Business trend

 

Stable

 

Prospects

 

Business Consolidation

 

Other comments about the activity

 

Cooperatives Ekin and Ampo, members of the Association ner group, have signed in February of 2014 a collaboration agreement for internationalization and diversification, creating Ekin Ampo By Ner S.L.

 

 

 

Employees

 

Year

 

Number of Employees

 

Fixed employees %

 

Part time employees %

 

2014

 

400

 

 

 

 

 

LEGAL CLAIMS

 

According to official sources, there are no legal claims registered under the subject's name

 

 

 

Banks

 

It was not possible to obtain any information relative to the banks with which the subject operates.

 

 

Clients

 

Name

 

NIF / Fiscal code

 

Telephone

 

Fax

 

% about sales

 

VOLVO

 

 

 

 

 

MERCEDES

 

 

 

 

 

VOLKSWAGEN

 

 

 

 

 

DELPHI

 

 

 

 

 

 

 

Suppliers

 

It has not been possible to determine the details of the suppliers who deal with the subject.

 

 

FINANCIAL DATA

 

2013 (Estimation)

Data in: Thousand of euros

 

 

ASSETS

 

 

LIABILITIES

 

Tangible fixed assets

 

100

 

 

Capital

 

80

 

Transport

 

 

 

Long term creditors

 

 

Machinery and fittings

 

 

 

Long term debts with Banks

 

 

Buildings and constructions

 

 

 

Short term creditors

 

1100

 

Intangible fixed assets

 

 

 

Short term debts with credit entities

 

 

Stock

 

550

 

 

 

 

Debtors

 

650

 

 

 

 

Cash

 

250

 

 

 

 

TOTAL ASSETS

 

1600

 

 

TOTAL LIABILITIES

 

1600

 

WORKING CAPITAL

 

 

 

 

 

 

 

 

SALES EVOLUTION

 

 

Financial Year

 

 

 

 

 

Financial Year

 

 

 

 

 

Financial Year 2013

 

 

2500

 

 

 

INVESTIGATION SUMMARY

 

Cooperative dedicated to the manufacture of broaching tools and cold rolled for the sectors of automotive, aerospace, energy production and agriculture. Its commercial development is acceptable

 

 

CONSULTED SOURCES

 

Investigation, Board of Administration (according to registry), Public institution, Chamber of Commerce, Internal/external DB, Subject

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.22

UK Pound

1

Rs.98.52

Euro

1

Rs.77.75

 

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.