|
Report No. : |
353536 |
|
Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PLIVA HRVATSKA D.O.O. |
|
|
|
|
Registered Office : |
Lijekova i farmaceutskih proizvoda Prilaz baruna
Filipovica 25 HR 10000 Zagreb |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
· Manufacture of pharmaceutical preparations · Manufacture of other inorganic basic chemicals · Manufacture of other chemical products n.e.c. · Technical testing and analysis · Other research and experimental development on natural sciences and engineering · Manufacture and distribution of pharmaceuticals · Research and development of new pharmaceuticals |
|
|
|
|
No. of Employee : |
19857 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
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) |
|
Croatia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CROATIA - ECONOMIC OVERVIEW
Though still one of the wealthiest of the former Yugoslav republics, Croatia's economy suffered badly during the 1991-95 war. The country's output during that time collapsed, and Croatia missed the early waves of investment in Central and Eastern Europe that followed the fall of the Berlin Wall. Between 2000 and 2007, however, Croatia's economic fortunes began to improve with moderate but steady GDP growth between 4% and 6% led by a rebound in tourism and credit-driven consumer spending. Inflation over the same period remained tame and the currency, the kuna, stable. Croatia experienced an abrupt slowdown in the economy in 2008 and has yet to recover; economic growth was stagnant or negative in each year since 2009. Difficult problems still remain, including a stubbornly high unemployment rate, uneven regional development, and a challenging investment climate. Croatia continues to face reduced foreign investment. On 1 July 2013 Croatia joined the EU, following a decade-long application process. Croatia will be a member of the European Exchange Rate Mechanism until it meets the criteria for joining the Economic and Monetary Union and adopts the euro as its currency. EU accession has increased pressure on the government to reduce Croatia’s relatively high public debt, which triggered the EU’s excessive deficit procedure for fiscal consolidation. Zagreb has cut spending since 2012, and the government also raised additional revenues through more stringent tax collection and by raising the Value Added Tax. The government has also sought to accelerate privatization of non-strategic assets, with mixed success.
|
Source
: CIA |
|
PLIVA
HRVATSKA d.o.o. za razvoj, proizvodnju i prodaju lijekova i farmaceutskih
proizvoda |
Phone |
+385
1/3720000 |
|
Prilaz
baruna Filipovica 25 |
Fax |
+385
1/3720111 |
|
HR
10000 Zagreb |
E-Mail |
|
|
|
Web |
|
Statistic number |
1758705 |
|
|
|
Short name |
PLIVA HRVATSKA d.o.o. |
Tax number |
44205501677 |
|
Company status |
active |
|
|
Legal form limited
liability company
Established 2003.
Registered 2003-09-16,
Commercial court Zagreb, MBS: 080469030
last court entry:
2015.10.02
According to the decission from 2005.05.25
one part of the company assets is separated and
taken over by the company
GLOBALNI SERVISI - IT d.o.o. (MBS: 080506104)
According to the court register
entry from 2007.06.28 , the company PLIVA ISTRAŽIVANJE I
RAZVOJ d.o.o. (MBS: 080492227)
with a legal site in Zagreb, Prilaz baruna Filipovića 29 was
affiliated by transfering its
assets to the company PLIVA HRVATSKA d.o.o.
According to the court register
entry from 2007.12.20 , the company GLOBALNI POSLOVNI
SERVISI-IT d.o.o.
(MBS:080506104) with a legal site in Zagreb was affiliated by transfering its
assets to the company PLIVA
HRVATSKA d.o.o.
According to the court register
entry from 2008.11.30, the company PHARMAING d.o.o. (MBS:
080477512) with a legal site in
Zagreb, Jagićeva 31, the company PUNCTUM STUDIO d.o.o.
(MBS: 080477711) with a legal
site in Zagreb, Gregorčićeva 8 and the company PLIVA-ESOP
d.o.o. (MBS: 080171686) with a
legal site in Zagreb, Grada Vukovara 49 were affiliated by
transfering its assets to the
company PLIVA HRVATSKA d.o.o.
According to the court register
entry from 2010.12.31, the company PLIVA Farmaceutika d.d.
(MBS: 080022035) with a legal
site in Zagreb, Prilaz baruna Filipovića 25 was affiliated by
transfering
its assets to the company PLIVA HRVATSKA d.o.o.
According to the court register entry from 2011.05.22, the company TEVA PHARMACEUTICALS
d.o.o. (MBS: 080680817, OIB: 60628553658) with a legal site in Zagreb, Prilaz baruna Filipovića
25 was affiliated by transfering its assets to the company PLIVA HRVATSKA d.o.o.
According to the court register entry from 2013.08.02, the company PLIVA ZDRAVLJE d.o.o.
(MBS: 080345413, OIB 68719779759) with a legal site in Zagreb, Prilaz baruna Filipovića 25
was affiliated by transfering its assets to the company PLIVA HRVATSKA d.o.o.
Statistic number: 1758705
OIB: 44205501677
Establishers Ivax International B.V.
Computerweg 10, Utrecht, Netherlands 100,00%
Basic capital HRK 3.142.360.000,00
Capital changes:
Until 2003.12.22: HRK 20.000,00
Until 2005.05.25: HRK 3.030.000.000,00
Until 2005.11.02: HRK 3.013.000.000,00
Until 2008.11.30: HRK 3.138.000.000,00
Management Mihael Furjan, president
Trnjanska cesta 37/2, 10000 Zagreb, Croatia
Zoran Bunčić, member, born 1962.06.22
Kuzminečka 6, 10000 Zagreb, Croatia
Nikolina Dizdar Čehulić, member
Ulica Vojina Bakića 1, 10000 Zagreb, Croatia
Romana Šantar, member
Drežnik IV. Odvojak 8 A, 10251 Desprim, Croatia
Supervisory board Hubert Puech Pays d Alissac, president
Rue de la Gagnerie 34, 37540 St cyr sur Loire, France
Eric Drape, vice-president
6 rue des Reservoirs, Chartres, France
Pasquale Vitagliani, member
1-pal. U10-Centro Direzionale Milanofiori Nord-20090-Assago, 1-pal. U10-Centro Direzionale,
Italy
Activity Manufacture of pharmaceutical preparations
Manufacture of other inorganic basic chemicals
Manufacture of other chemical products n.e.c.
Technical testing and analysis
Other research and experimental development on natural sciences and engineering
Manufacture and distribution of pharmaceuticals
Research and development of new pharmaceuticals
After taking over production and distribution from PLIVA d.d., PLIVA HRVATSKA became the
largest pharmaceutical company and biggest exporter in Croatia
Exports all over the world: Belarus, Czech Republic, Germany, Switzerland, France, Great
Britan, Italy, Hungary,
Macedonia, Bosnia and Hercegovina, Slovenia, USA
Brands: Andol, Andol 100,
Atrocam, Betrion, Cilazil, Diklonat, Gastal, Geokorton, Geonistin, Heptanon, Homofan,
Homolong, Homorap, Izosan, Ketocef, Klavocin, Mirocef, Novocef, Oikamid,
Peptoran, Phemiton, Plibex, Plivadial, Plivadon, Plivasept, Plivit C, Sinersul,
Sumamed, Supremin, Zinidil, Tonocardin, Ulzol, Aviomarin, Diaspam, Enerbol,
Flegamina, Hepatil, Lecitan, Sedamin, Venotrex, Mukolina
legal site and business premises
(production facilities) are located at the above address
facilities in Savski Marof,
Prudnička cesta 54
business units:
- Dubrovačka 6, 51000
Rijeka
- Dražanac 72, 21000 Split
- Sjenjak 58, 31000 Osijek
former company address was till
2009-11-16 at Ulica grada Vukovara 49, 10000 Zagreb
the company owns vehicles,
number and type not known
Book value of vehicles
2014.12.31: HRK 1.460.042,00
Basic activity code (according
to NACE Rev.2):
Manufacture of pharmaceutical
preparations (21.20)
Staff 2010 1914
employees
2011 1745 employees
2012 1783 employees
2013 1897 employees
2014 1957 employees
Total revenue 2010
HRK 2.795.442.600
2011 HRK 2.760.460.300
2012 HRK 3.316.678.770
2013 HRK 3.097.640.280
2014 HRK 3.798.516.810
Real estate the
company owns real estates
Book value of ground 2014.12.31:
HRK 117.950.983,00
Book value of buildings
2014.12.31: HRK 916.636.349,00
information about eventual
mortgage existance not available
insight into real estate
register not possible
Assets Currency:
HRK ( x 1.000 )
|
|
2014.12.31
|
2013.12.31 |
2012.12.31 |
|
FIXED
ASSETS |
5.114.928 |
4.790.624 |
4.323.932 |
|
Intangible
assets |
44.245 |
39.958 |
39.459 |
|
Tangible
assets |
2.632.707 |
2.400.305 |
2.035.347 |
|
-
land and woods |
117.951 |
248.339 |
248.339 |
|
-
buildings |
916.636 |
894.332 |
851.659 |
|
-
plants and machinery |
696.564 |
492.897 |
329.595 |
|
-
tools, equipment, vehicles |
11.891 |
9.209 |
9.530 |
|
-
advance payments for tang. assets |
18.632 |
84.969 |
136.921 |
|
-
tangible assets in preparement |
827.335 |
669.963 |
458.713 |
|
-
other tangible assets |
43.697 |
596 |
589 |
|
Long
term financ. assets |
1.737.905 |
1.702.863 |
1.701.197 |
|
-
shares in associated companies |
215.551 |
215.551 |
215.576 |
|
-
other participations |
91.752 |
56.198 |
51.611 |
|
-
credits, deposits, guarantees |
7.274 |
7.786 |
9.124 |
|
-
other financial assets |
1.423.328 |
1.423.328 |
1.424.886 |
|
Long
term receivables |
700.072 |
647.498 |
547.930 |
|
CURRENT
ASSETS |
3.785.899 |
3.094.640 |
3.540.097 |
|
Inventories |
996.290 |
917.422 |
973.326 |
|
-
raw and auxiliary materials |
408.816 |
336.906 |
495.640 |
|
-
goods in course of production |
158.747 |
201.380 |
153.240 |
|
-
trade goods |
150.761 |
124.452 |
96.897 |
|
-
finished products |
277.487 |
251.719 |
225.769 |
|
-
advance payments |
480 |
2.965 |
1.781 |
|
Short
term receivables |
1.374.776 |
1.298.925 |
1.579.725 |
|
-
from associated companies |
660.878 |
493.766 |
566.820 |
|
-
from sales |
606.280 |
733.160 |
773.954 |
|
-
from staff |
2.336 |
1.152 |
7.089 |
|
-
from state and institutions |
93.132 |
69.327 |
221.140 |
|
-
others |
12.150 |
1.520 |
10.721 |
|
Short
term financial assets |
1.345.067 |
829.450 |
688.160 |
|
Cash
at bank and in hand |
69.765 |
48.843 |
298.886 |
|
ACCRUALS |
10.177 |
6.870 |
7.243 |
|
TOTAL
ASSETS |
8.911.005 |
7.892.133 |
7.871.273 |
Liabilities
|
Currency: HRK ( x 1.000 ) |
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
EQUITY |
4.085.587 |
4.186.784 |
3.744.608 |
|
Subscribed
capital |
3.142.360 |
3.142.360 |
3.142.360 |
|
Reserves |
1.128.749 |
1.742.737 |
1.736.422 |
|
Loss
brought forward |
771.572 |
1.134.160 |
1.810.858 |
|
Profit
of the period |
586.051 |
435.846 |
676.684 |
|
PROVISIONS |
10.292 |
9.123 |
7.938 |
|
LONG
TERM LIABILITIES |
3.744.682 |
2.821.173 |
2.787.228 |
|
SHORT
TERM LIABILITIES |
795.485 |
625.792 |
1.108.028 |
|
To
associated companies |
444.210 |
373.927 |
660.336 |
|
Deposits,
advances payments |
161 |
59 |
284 |
|
To
suppliers |
316.404 |
219.432 |
362.228 |
|
To
staff |
17.949 |
16.408 |
15.326 |
|
Taxes,
fees |
15.051 |
14.419 |
66.926 |
|
Other
tax liabilities |
0 |
0 |
1.285 |
|
Other
short term liabilities |
1.711 |
1.547 |
1.643 |
|
DEFFERED
ITEMS |
274.958 |
249.262 |
223.471 |
|
TOTAL
EQUITY AND LIABILITIES |
8.911.005 |
7.892.133 |
7.871.273 |
Profit/loss account
|
Currency: HRK ( x 1.000 ) |
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
OPERATING
REVENUES |
3.656.464 |
3.075.871 |
3.130.528 |
|
Sales
in the country |
487.230 |
514.226 |
504.169 |
|
Sales
abroad |
2.861.272 |
2.193.811 |
2.369.369 |
|
Other
revenues |
307.962 |
367.833 |
256.989 |
|
OPERATING
EXPENSES |
2.946.969 |
2.589.408 |
2.518.162 |
|
Decrease
in inventories |
147.227 |
66.325 |
191.390 |
|
Material
costs |
1.802.023 |
1.574.248 |
1.504.156 |
|
-
raw material costs |
885.579 |
805.039 |
682.720 |
|
-
sold goods costs |
255.262 |
252.252 |
254.238 |
|
-
other external costs |
661.182 |
516.957 |
567.198 |
|
Staff
costs |
414.465 |
381.965 |
359.441 |
|
Depreciation
of fixed assets |
127.263 |
108.265 |
113.224 |
|
Depreciation
of current assets |
21.485 |
54.952 |
0 |
|
Reserves
for expenses and risques |
1.170 |
403 |
933 |
|
Other
operating expenses |
433.336 |
403.250 |
349.019 |
|
FINANCIAL
REVENUES |
142.052 |
21.770 |
186.151 |
|
FINANCIAL
EXPENSES |
299.755 |
171.954 |
237.376 |
|
EXTRAORDINARY
REVENUES |
0 |
0 |
0 |
|
EXTRAORDINARY
EXPENSES |
0 |
0 |
0 |
|
TOTAL
REVENUES |
3.798.517 |
3.097.640 |
3.316.679 |
|
TOTAL
EXPENSES |
3.246.725 |
2.761.362 |
2.755.538 |
|
Profit
before taxation |
551.792 |
336.278 |
561.141 |
|
Loss
before taxation |
0 |
0 |
0 |
|
Taxation
on profit |
-34.259 |
-99.568 |
-115.543 |
|
PROFIT
OF THE PERIOD |
586.051 |
435.846 |
676.684 |
|
LOSS
OF THE PERIOD |
0 |
0 |
0 |
Financial ratios
|
|
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
Financial
stability ratio |
1,2830 |
1,2293 |
1,2346 |
|
Solvency
ratio (%) |
45,8488 |
53,0501 |
47,5731 |
|
Debt
ratio (in years) |
6,3649 |
6,3350 |
4,9313 |
|
Liquidity
ratio |
3,5068 |
3,4791 |
2,3165 |
|
Current
ratio |
4,7592 |
4,9452 |
3,1950 |
|
Total
assets turnover |
0,4263 |
0,3925 |
0,4214 |
|
Inventories
turnover |
3,8127 |
3,3765 |
3,4076 |
|
Collection
period (in days) |
147,8032 |
172,6760 |
197,9096 |
|
Creditors
Days |
34,0168 |
29,1708 |
45,3803 |
|
Inventories
bonding (in days) |
94,4223 |
106,6205 |
105,6471 |
|
Profit
margin (%) |
15,4284 |
14,0703 |
20,4024 |
|
Return
on total assets (%) |
6,5767 |
5,5225 |
8,5969 |
|
Return
on equity (%) |
14,3443 |
10,4100 |
18,0709 |
|
Total
revenue per employee (x 1.000) |
1.940,9897 |
1.632,9153 |
1.860,1676 |
|
Profit
per employee (x 1.000) |
299,4639 |
229,7554 |
379,5197 |
|
Equity
per employee (x 1.000) |
2.087,6787 |
2.207,0552 |
2.100,1726 |
|
Total
assets per employee (x 1.000) |
4.553,4004 |
4.160,3234 |
4.414,6232 |
|
Staff
costs/Turnover (%) |
10,9112 |
12,3309 |
10,8374 |
|
EBIT
(x 1.000) |
709.494,9500 |
486.462,4500 |
612.365,4300 |
|
EBITDA
(x 1.000) |
858.243,0200 |
649.679,2500 |
725.589,1600 |
|
EBIT
Margin (%) |
19,4039 |
15,8154 |
19,5611 |
|
EBITDA
Margin (%) |
23,4719 |
21,1218 |
23,1779 |
Remarks 2010 import HRK 917.405.396,00
2011 import HRK 1.349.410.399,00
2012 import HRK 1.705.214.215,00
2013 import HRK 1.558.424.783,00
2014 import HRK 1.732.016.236,00
2010 export HRK 1.911.703.953,00
2011 export HRK 1.877.567.011,00
2012 export HRK 2.369.369.127,00
2013 export HRK 2.193.811.319,00
2014 export HRK 2.861.272.270,00
2010 profit HRK 669.646.330
2011 profit HRK 122.385.480
2012 profit HRK 561.140.780
2013 profit HRK 336.277.790
2014 profit HRK 551.792.200
Subsidiaries
MEDIKA, d.d.
(Statistic number: 3209741) Capraška 1, 10000 Zagreb, Croatia 25,32%
PLIVA d.o.o. Sarajevo
(Statistic number: 4201418590009)
ul. Trg Heroja broj 10, 71120 Sarajevo-Novo Sarajevo,
Bosnia & Hercegovina 100,00%
ASPERA NEKRETNINE d.o.o.
(Statistic number: 2764741)
PRILAZ BARUNA FILIPOVIĆA 25, 10000 ZAGREB, Croatia 100,00%
TEVA Serbia d.o.o.
Republic Serbia 100,00%
PLIVA SKOPJE d.o.o.e.l.
Macedonia 100,00%
PLIVA London Ltd.
United Kingdom 100,00%
TEVA Services Holding Ltd.
Hungary 4,32%
Short company name: PLIVA HRVATSKA d.o.o.
Translation: PLIVA CROATIA Ltd.
Other shares and functions of Mr. Mihael Furjan:
- ASPERA NEKRETNINE d.o.o., Zagreb; president of board
- MEDIKA, d.d., Zagreb; member of supervisory board
Investments in:
- 2009: HRK 75.862.293,00
- 2010: HRK 97.523.364,00
- 2011: HRK 175.026.354,00
- 2012: HRK 536.829.075,00
- 2013: HRK 533.321.427,00
- 2014: HRK 527.184.120,00
There is no record of payment complaints. Creditreform debt collection department has not handled any case against the company. According to the official information from the Register of transaction accounts, the company accounts are active and are not blocked (date of last check: 2015.12.07).
Exchange rate:
2010-12-31 EUR 1 = HRK 7,3852
2011-12-31 EUR 1 = HRK 7,5304
2012-12-31 EUR 1 = HRK 7,5456
2013-12-31 EUR 1 = HRK 7,6376
2014-12-31 EUR 1 = HRK 7,6615
Inflation:
2010: 1,1%
2011: 2,3%
2012: 3,4%
2013: 2,2%
2014: -0.6%
Bankers ERSTE&STEIERMÄRKISCHE BANK d.d.
Jadranski trg 3a, 51000 Rijeka, Croatia
HR7924020061100430432
RAIFFEISENBANK AUSTRIA d.d.
Petrinjska 59, 10000 Zagreb, Croatia
HR6524840081101874074
ZAGREBACKA BANKA d.d.
Paromlinska 2, 10000 Zagreb, Croatia
HR8923600001101683058
Payment behaviour No complaints,
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
|
HRK |
1 |
Rs.9.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
TRU |
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.