|
Report No. : |
315575 |
|
Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPECIFAR S.A. |
|
|
|
|
Registered Office : |
1, 28th Octovriou, Postal Code: 12351, Attica, Agia Varnava |
|
|
|
|
Country : |
Greece |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1933 |
|
|
|
|
Com. Reg. No.: |
106/03/Β/86/039 |
|
|
|
|
Legal Form : |
Public Company |
|
|
|
|
Line of Business : |
·
Manufacture of pharmaceutical preparations ·
Wholesale of pharmaceutical goods |
|
|
|
|
No. of Employees : |
390 |
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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Greece |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
18% 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 averaged growth of about 4% per
year between 2003 and 2007, 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. By 2013 the economy had contracted
26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and
Stability Pact budget deficit criterion of no more than 3% of GDP in 2007-08,
but violated it in 2009, with the deficit reaching 15% of GDP. Austerity
measures have reduced the deficit to about 4% in 2013, including government
debt payments. 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 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
continue pushing 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, called for holders of Greek
government bonds to write down a significant portion of their holdings. As
Greek banks held a significant portion of sovereign debt, the banking system
was adversely affected by the write down and €41 billion of the second bailout
package was set aside to ensure the banking system was adequately capitalized.
In exchange for the second loan Greece promised to introduce an additional $7.8
billion in austerity measures during 2013-15. However, the massive austerity
cuts have prolonged Greece's economic recession and depressed tax revenues.
Throughout 2013, Greece's lenders called on Athens to step up efforts to
increase tax collection, dismiss public servants, privatize public enterprises,
and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's
efforts to meet bailout conditions led to the departure of one party, the
Democratic Left, from the governing coalition when his government made the
controversial decision to shut down and restructure the state-owned television
and radio company. Subsequent reluctance to institute further cuts and delays
in meeting public sector reform targets prompted Greek lenders to withhold
bailout fund disbursements until December 2013. However, investor confidence
began to show signs of strengthening by the end of 2013 as leading
macroeconomic indicators suggested the economy’s freefall had been arrested.
|
Source
: CIA |
|
Registered Name |
SPECIFAR S.A. |
|
Trade Name |
ΣΠΕΣΙΦΑΡ Α.Ε. |
|
Registered Address |
1, 28th Octovriou, Postal Code: 12351, Attica, Agia Varnava, Greece |
|
Telephone |
+30 21 05401500, +30 21 05401600 / +30 21 05401552 |
|
Status |
Registered and operational |
|
Legal Type |
SRL |
|
VAT Number |
094009565 |
|
|
|
Registration No |
106/03/Β/86/039 |
Registration Date |
29/12/1995 |
|
Start Date |
01/01/1933 |
Years of Operation |
82 |
|
End Date |
01/01/2023 |
||
|
Last annual report |
01/01/2011 |
||
|
Last return |
08/04/2015 |
||
|
CR number |
106/03/Β/86/039 |
||
|
Membership number |
228201000 |
||
|
CINFO ID |
3686142 |
||
|
Employees |
Apr 2015 |
|
Total Number |
390 |
|
Size class |
250-999 |
|
Authorized Capital |
28,660,487.00
EUR |
Nominal No Of Shares |
28,660,487 |
||||||||
|
Nominal value |
1.00 EUR |
||||||||||
|
Directors |
Position |
ID |
Nationality |
Occupation |
Age |
Appointed |
Other dir. |
|
Mehta, Anish Kir. |
Director |
- |
India |
Executive Member Of The Board |
- |
- |
No |
|
Hirt - Vincent, Cheldon Jos. |
Director |
- |
USA |
Executive Member Of The Board |
- |
- |
No |
|
Oikonomou, Thomas Geo. |
Director |
- |
Greece |
Chairman & CEO |
- |
- |
No |
|
Rizos, Alexis Nik. |
Director |
- |
Greece |
Executive Vice Chairman |
- |
- |
No |
|
Vassilopoulos, Periklis Tit. |
Director |
047763393 |
Greece |
Business Development Director |
- |
- |
No |
|
Secretary |
Position |
ID |
Nationality |
Occupation |
Age |
Appointed |
Other dir. |
|
No information
available |
|||||||
|
Other Relations |
Position |
ID |
Nationality |
Appointed |
|
|
||||
|
Vourtsis, Petros |
Marketing Director |
|
Greece |
|
|
|
||||
|
Shareholders |
ID/Reg. No. |
Nationality |
Shares |
% |
|||||
|
|
|||||||||
|
C263493 |
Cyprus |
|
100 |
||||||
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|
|||||||||
|
Other Directorship: |
|||||||||
|
Name |
Registration date |
Reg. No |
Status |
Position |
Update date |
||||
|
No information
available |
|||||||||
|
Other Shareholding: |
|||||||||
|
Name |
Registration date |
Reg. No |
Status |
% |
Update date |
||||
|
No information
available |
|||||||||
|
Activity Code |
Description |
|
|
[52.3] Retail sale of pharmaceutical and medical goods, cosmetic and
toilet articles |
|
2442 |
Manufacture of pharmaceutical preparations |
|
244 |
Manufacture of pharmaceuticals, medicinal chemicals and botanical
products |
|
5146 |
Wholesale of pharmaceutical goods |
|
Line of business |
|
SECTOR: Pharmaceuticals |
|
Number of accounts |
Market Share % |
National |
International |
Local Sales |
Local Purchases |
Selling Terms |
Sales Average Credit Period |
Average Limit |
Purchase Terms |
Purchase Average Credit Period |
Purchase Average Limit |
|
0 |
1.54 |
0 |
0 |
0 |
0 |
- |
N/A |
0€ |
- |
N/A |
0 |
|
Sells to |
|
Group Companies, General Public |
|
Purchases |
|
Raw materials, Products |
|
Export to |
Payment terms |
Percentage |
|
South Africa, Austria, Azerbaijan, Iraq, Lebanon, Malta, Romania,
Russian Federation, Ukraine |
- |
N/A |
|
|
||
|
Import from |
Payment terms |
Percentage |
|
Belgium, Denmark, Finland, India, Malta |
- |
N/A |
|
|
||
|
Banks |
Swift code |
|
HSBC BANK PLC |
0710021 |
|
Comment |
|
|
Bank number: 0710021 |
|
|
PIRAEUS BANK S.A. |
0172047 |
|
Comment |
|
|
Bank number: 0172047 |
|
|
EFG EUROBANK ERGASIAS S.A. |
0260017 |
|
Comment |
|
|
Bank number: 0260017 |
|
|
NATIONAL BANK OF GREECE S.A. |
0110105 |
|
Comment |
|
|
Bank Number: 0110105 |
|
|
Alpha Bank |
0140151 |
|
Comment |
|
|
Bank Number: 0140151 |
|
|
Premises |
Date Updated |
|
Operates as: Headquarters |
08/04/2015 |
|
1, 28th Octovriou, Postal Code: 183144, PO Box Postal Code: 183144,
Attica, Agia Varnava, Greece |
|
|
Operates as: |
08/04/2015 |
|
Office |
|
|
Leased |
|
|
Antoni Tritsi, Postal Code: 55510, Thessaloniki, Pylaia, Greece |
|
|
Operates as: |
08/04/2015 |
|
Office |
|
|
Leased |
|
|
Komvos Pagni, Postal Code: 71410, Heraklion, Estavromenos, Greece |
|
|
Operates as: |
08/04/2015 |
|
Office |
|
|
Leased |
|
|
137, Australias, Postal Code: 174900, Patra, -, Greece |
|
|
Affiliates and Subsidiaries |
Country |
Relation |
Date Reg. |
|
|
MILAN |
France |
Client |
|
|
|
|
||||
|
PHARMACISTS' SUPPLYING COOP. OF ATTIKA L.L.C. |
Greece |
Client |
|
|
|
|
||||
|
STADA |
Germany |
Client |
|
|
|
|
||||
|
BIOGARAW |
France |
Client |
|
|
|
|
||||
|
BETAFARM |
Germany |
Client |
|
|
|
|
||||
|
Agencies and Suppliers |
Country |
Relation |
Date Reg. |
|
No information
available |
|||
|
No |
Date Registered |
Date Prepared |
Type |
Description |
Amount |
Secondary amount |
Property |
Unit |
Beneficiary |
|
No information
available |
|||||||||
Charges History
|
No |
Date Registered |
Date Prepared |
Date End |
Type |
Description |
Amount |
Secondary amount |
Property |
Unit |
Beneficiary |
|
No information
available |
||||||||||
According to our against the subject no negatives have been registered.
|
Please note that
the latest financial details were not available at the file of the company at
the official companies' registry house; as the law provides for all
companies. No financial details were available from other public sources. |
CONCLUSION
Established in 1933, with name CHROMATOURGEIA G I METAXAS SA. In 1967,
renamed SPESIFAR SA CHEMICAL-PHARMACEUTICAL HOLDINGS CONSTRUCTION and object of
activity the sale of pharmaceutical products. In 1995, it acquired the name which
is still active today: SPECIFAR SA Industrial chemicals & pharmaceuticals.
By January 2011 the titre had secured over 600 marketing authorizations in
Europe, South Africa, Canada, Middle East and Asia. Works with more than 200
companies in 36 countries, mainly in Europe. Company hasn`t published balance
sheet for the fiscal year 2013.
The company was awarded with the following certifications:
ISO 9001:2008, TUV HELLAS (TUV NORD) S.A.
ISO 14001, TUV HELLAS (TUV NORD) S.A.
Please note that the information provided in this report was obtained from
official, publicly available sources.
|
No information available |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.