MIRA INFORM REPORT

 

 

Report No. :

334251

Report Date :

01.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MIGUEL SANTES COSTA

 

 

Registered Office :

AVDA. Padre Carlos Ferris, 19 - Albal - Valencia

 

 

Country :

Spain

 

 

Date of Incorporation :

01.01.1988

 

 

Legal Form :

Proprietorship / Self-employed

 

 

Line of Business :

Subject is engaged in wholesale of wood, construction materials and sanitary equipment

 

 

No. of Employee :

5

 

 

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 :

Small Company

 

 

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Spain

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SPAIN - ECONOMIC OVERVIEW

 

After experiencing a prolonged recession in the wake of the global financial crisis, in 2014 Spain marked the first full year of economic growth in seven years, with growth of 1.4%. At the onset of the global financial crisis Spain's GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. Credit contraction in the private sector, fiscal austerity, and high unemployment continue to weigh on domestic consumption and investment. Exports were resilient throughout the economic downturn and helped to bring Spain's current account into surplus in 2013 for the first time since 1986, where it remained in 2014. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, closing 2014 at 23.7%. This has strained 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 2010. Spain gradually reduced the deficit to just under 7% of GDP in 2013-14, 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 more than 97% in 2014. Rising labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have helped to improve foreign investor interest in the economy and positive FDI flows have been restored.

The government's efforts to implement labor, pension, health, tax, and education reforms, aimed at supporting investor sentiment, have become overshadowed by political activity in 2015 in anticipation of national parliamentary elections late in the year. In 2013 the government successfully shored up struggling banks - exposed to the collapse of Spain's depressed real estate and construction sectors, completing an EU-funded restructuring and recapitalization program in January 2014. Recently increased private consumption helped bring real GDP growth back into positive territory at 1.4% in 2014, and labor reforms prompted a modest reduction in the unemployment rate, from more than 26% in 2013 to 23.7% in 2014. Despite the uptic in economic activity, inflation dropped sharply, from 1.5% in 2013 to flat in 2014. Spain’s 2015 budget, published in September 2014, rolls back some recently imposed taxes in advance of national elections in November 2015 and leaves untouched the country’s value-added tax (VAT) regime, which continues to generate significantly lower revenue than the EU average. Spain’s borrowing costs are dramatically lower since their peak in mid-2012.

 

Source : CIA

 

 

 

 

 

 

EXECUTIVE SUMMARY

 

 

 

Name

 

MIGUEL SANTES COSTA

 

NIF / Fiscal code:

 

19790060D

 

Legal form:

 

Proprietorship / Self-employed

 

Status:

 

Active

 

Location:

 

AVDA. PADRE CARLOS FERRIS, 19 - ALBAL - VALENCIA

 

Telephone:

 

961262069

 

Number of Branches:

 

1

 

Activity:

 

 

NACE:

 

4673 - Wholesale of wood, construction materials and sanitary equipment

 

Size:

 

Small

 

Commercial scope:

 

Autonomous

 

Import / export:

 

Import: No, Export: No

 

 

Employees:

 

Number of Employees  5

 

Legal Claims:

 

No

 

Business trend:

 

Favourable

 

Prospects:

 

Business Consolidation

 

Industry situation:

 

Maturity

 

 

Economic-financial data

 

.

 

Financial Year

 

Turnover

 

.

 

.

 

2014

 

460000

 

.

 

 

Total investments:

 

282000

 

Unit:

 

Euros

 

Guarantees:

 

 

Branch ownership:

 

1 in right of property 0 in renting premises

 

INVESTIGATION SUMMARY

 

Individual company developped by Mr Santes in 1980.  \par The company is engaged in the sale of marble, granite and until today, this company has good concept among the information sources consulted. \par Given the above we consider the company can continue having usual normal credits according to its structure and size.

 

 

 

 

Enquiry Details

 

 

NIF / Fiscal code

 

19790060D

 

Name

 

MIGUEL SANTES COSTA

 

Address

 

AVDA. PADRE CARLOS FERRIS, 19

 

City

 

VALENCIA

 

Province

 

VALENCIA

 

Postcode

 

46470

 

Telephone

 

961262069

 

Additional Information

 

MIGUELSANTES@TELEFONICA.NET

 

 

 

 

IDENTIFICATION

 

 

Company name / Name of the subject

 

MIGUEL SANTES COSTA

 

Legal form

 

Proprietorship / Self-employed

 

NIF / Fiscal code

 

19790060D

 

Status

 

Active

 

Start of activity

 

01/01/1988

 

Name of the maximum responsible

 

MIGUEL SANTES COSTA

 

Position of the maximum responsible

 

TITULAR FISCAL

 

Professional address

 

AVDA. PADRE CARLOS FERRIS, 19

 

City

 

ALBAL

 

Province

 

VALENCIA

 

Postcode

 

46470

 

Telephone

 

961262069

 

Fax

 

961264588

 

Website

 

www.santesmarmolesygranitos.es

 

Email

 

miguelsantes@telefonica.net

 

Other former or related addresses

 

CR FUENTEHERIDOS NAVAHERMOSA FUENTEHERIDOS (HUELVA), address whose relationship with Mr Santes we have not been able to establish.

 

 

 

 

Branch Offices

 

 

Branch

 

Used for / as

 

Type of premises

 

PARTIDA DE ALQUERÍA- VÍA DE SERVICIO PISTA DE SILLA A-V31 SALIDA 1 CATARROJA ALBAL (VALENCIA)

 

ALMACÉN

 

Owned

 

 

 

 

ACTIVITY

 

 

NACE

 

4673

 

Description of the NACE code

 

Wholesale of wood, construction materials and sanitary equipment

 

Comment about the activity

 

Commerce and distribution of marbles, granites and construction materials.

 

Franchise

 

No

 

% Autonomous region commercial scope

 

100%

 

Business size

 

Small

 

Import

 

No

 

Export

 

No

 

Industry situation

 

Maturity

 

Business trend

 

Favourable

 

Prospects

 

Business Consolidation

 

 

 

 

Employees

 

 

Year

 

Number of Employees

 

Fixed employees %

 

Part time employees %

 

2015

 

5

 

 

 

 

According to the information sources consulted there are 5 employees.

 

 

 

 

Payment Behaviour

 

 

Normal

 

The company meets the payment obligations according to the information sources.

 

 

 

 

 

LEGAL CLAIMS

 

 

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

 

 

 

 

 

Banks

 

 

Bank name

 

Branch

 

Address

 

Telephone

 

CAIXABANK

 

 

ALBAL

 

 

CAIXA RURAL

 

 

ALBAL

 

 

 

 

 

Suppliers

 

 

Name

 

NIF / Fiscal code

 

Telephone

 

Fax

 

% about purchases

 

GRANINTER

 

 

 

 

%

 

 

 

 

FINANCIAL DATA 2014

 

(Estimation)

Data in: Thousand of euros

 

 

 

ASSETS

 

 

LIABILITIES

 

Tangible fixed assets

 

65

 

 

Capital

 

 

Transport

 

 

 

Long term creditors

 

35

 

Machinery and fittings

 

 

 

Long term debts with Banks

 

 

Buildings and constructions

 

 

 

Short term creditors

 

41

 

Intangible fixed assets

 

 

 

Short term debts with credit entities

 

 

Stock

 

75

 

 

FONDOS PROPIOS

 

206

 

Debtors

 

110

 

 

 

 

Cash

 

32

 

 

 

 

TOTAL ASSETS

 

282

 

 

TOTAL LIABILITIES

 

282

 

WORKING CAPITAL

 

 

 

 

 

 

 

 

SALES EVOLUTION

 

 

 

Financial Year

 

 

 

 

 

Financial Year

 

 

 

 

 

Financial Year 2014

 

 

460

 

 

 

 

According to the information sources consulted, the financial situation of the company .

 

 

 

 

INVESTIGATION SUMMARY

 

 

Individual company developped by Mr Santes in 1980.  \par The company is engaged in the sale of marble, granite and until today, this company has good concept among the information sources consulted. \par Given the above we consider the company can continue having usual normal credits according to its structure and size.

 

 

 

 

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, due to the fact Mr Santes declined provide any date.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.01

UK Pound

1

Rs.99.84

Euro

1

Rs.70.16

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

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.