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Report No. : |
354529 |
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Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
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Name : |
DINE-TRADE D.O.O. |
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Registered Office : |
Pavla Labata 36 RS 11000 Beograd (Vozdovac) |
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Country : |
Serbia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
23.03.1992 |
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Legal Form : |
Limited Liability company |
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Line of Business : |
Wholesale of pharmaceutical goods |
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No. of Employee : |
6 (2014) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Serbia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SERBIA - ECONOMIC
OVERVIEW
Serbia has a transitional economy largely dominated by market forces, but the state sector remains significant in certain areas and many institutional reforms are needed. The economy relies on manufacturing and exports, driven largely by foreign investment. MILOSEVIC-era mismanagement of the economy, an extended period of international economic sanctions, civil war, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, Serbia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). Serbia has made progress in trade liberalization and enterprise restructuring and privatization, but many large enterprises - including the power utilities, telecommunications company, natural gas company, and others - remain in state hands. Serbia has made some progress towards EU membership, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the EU in February 2010, gained candidate status in March 2012. In January 2014, Serbia's EU accession talks officially opened. Serbia's negotiations with the World Trade Organization are advanced, with the country's complete ban on the trade and cultivation of agricultural biotechnology products representing the primary remaining obstacle to accession. Serbia's program with the IMF was frozen in early 2012 because the 2012 budget approved by parliament deviated from the program parameters; the arrangement is now void. High unemployment and stagnant household incomes are ongoing political and economic problems. Structural economic reforms needed to ensure the country's long-term prosperity have largely stalled since the onset of the global financial crisis. Growing budget deficits constrain the use of stimulus efforts to revive the economy and contribute to growing concern of a public debt crisis, given that Serbia's total public debt as a share of GDP more than doubled between 2008 and 2014. Serbia's concerns about inflation and exchange-rate stability may preclude the use of expansionary monetary policy. During 2014 the SNS party addressed issues with the fiscal deficit, state-owned enterprises, the labor market, construction permits, bankruptcy and privatization, and other areas. Major challenges ahead include: high unemployment rates and the need for job creation; high government expenditures for salaries, pensions, healthcare, and unemployment benefits; a growing need for new government borrowing; rising public and private foreign debt; attracting new foreign direct investment; and getting the IMF program back on track. Other serious longer-term challenges include an inefficient judicial system, high levels of corruption, and an aging population. Factors favorable to Serbia's economic growth include its strategic location, a relatively inexpensive and skilled labor force, and free trade agreements with the EU, Russia, Turkey, and countries that are members of the Central European Free Trade Agreement (CEFTA). In late 2014, Serbia and the IMF announced a tentative plan for a precautionary loan worth approximately $1 billion. In 2015, the government will be challenged to implement IMF-mandated reforms—which will target social spending, the large public sector, and social spending.
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Source
: CIA |
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DINE-TRADE D.O.O. DINE-TRADE DOO DRUSTVO ZA PROIZVODNJU, TRGOVINU I USLUGE BEOGRAD (VOZDOVAC) |
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Pavla Labata 36 RS 11000 Beograd (Vozdovac) Tel: +381 11/3097568, 3098568 Fax: +381 11/3097568 Mob.: +381 64/6485171, 6485173 E-Mail: dinetrade@gmail.com Web: www.dine-trade-com |
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Legal form |
Ltd. - Limited Liability company |
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Established |
23.03.1992 |
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Registered |
National Identification Number: 07819447 PIB (Value Added Tax): 100005990 |
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Establisher |
Branko Vidojevic, born 13.01.1952 Pavla Labata 36, 11222 Beograd, Serbia |
50.00% |
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Mirjana Vidojevic, born 25.01.1952 Serbia |
50.00% |
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Basic capital |
RSD 310,000 (31.12.2014) |
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Management |
Dusan Vidojevic, Director, born 02.12.1978 Serbia |
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Activity |
Basic activity (according to National activity classification): Wholesale of pharmaceutical goods (46.46) |
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Import from: Japan, India, Poland |
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Business Premises |
Pavla Labata 38, Beograd, ownership unknown, Office Pavla Labata 38, Beograd, ownership unknown, Wholesale |
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Motor pool |
Data not available |
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Staff |
2014 |
6 employees |
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2013 |
5 employees |
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2012 |
6 employees |
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2011 |
8 employees |
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2010 |
8 employees |
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2009 |
8 employees |
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2008 |
8 employees |
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2007 |
8 employees |
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2006 |
8 employees |
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2005 |
6 employees |
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2004 |
3 employees |
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2003 |
6 employees |
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2002 |
8 employees |
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2001 |
8 employees |
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Revenue |
2014 revenue |
RSD |
64,678,000 |
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2013 revenue |
RSD |
87,578,000 |
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2012 revenue |
RSD |
73,938,000 |
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2011 revenue |
RSD |
73,758,000 |
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2010 revenue |
RSD |
64,281,000 |
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2009 revenue |
RSD |
58,365,000 |
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2008 revenue |
RSD |
47,723,000 |
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2007 revenue |
RSD |
39,840,000 |
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2006 revenue |
RSD |
34,071,000 |
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2005 revenue |
RSD |
32,697,000 |
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2004 revenue |
RSD |
25,271,000 |
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2003 revenue |
RSD |
29,678,000 |
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2002 revenue |
RSD |
19,509,000 |
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2001 revenue |
RSD |
17,870,000 |
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Real estate |
Data not available |
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Balance Sheet |
RSD (x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
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Unconsolidated |
|||||
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FIXED ASSETS |
915 |
1,463 |
2,086 |
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Subscribed capital unpaid |
0 |
0 |
0 |
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Intangible fixed assets |
93 |
172 |
252 |
||
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Tangible fixed assets |
822 |
1,291 |
1,834 |
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Other fixed assets |
0 |
0 |
0 |
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CURRENT ASSETS |
41,346 |
44,232 |
50,411 |
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Inventories |
30,066 |
31,852 |
38,788 |
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Short – term loans |
6,363 |
12,380 |
11,508 |
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*Cash and cash equivalent |
4,910 |
3,750 |
2,502 |
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Other current assets |
7 |
0 |
115 |
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LOSS |
0 |
0 |
0 |
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TOTAL ASSETS |
42,261 |
45,695 |
52,497 |
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EQUITY |
24,728 |
24,528 |
19,292 |
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Capital |
310 |
310 |
310 |
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Subscribed capital unpaid |
0 |
0 |
0 |
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Reserves |
0 |
0 |
0 |
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Revalorization reserves |
78 |
78 |
78 |
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Undistributed Income |
24,340 |
24,140 |
18,904 |
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Loss |
0 |
0 |
0 |
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Treasury shares |
0 |
0 |
0 |
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LONG TERM RESERVATIONS |
0 |
0 |
0 |
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LONG TERM LIABILITIES |
0 |
0 |
0 |
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SHORT TERM LIABILITIES |
17,533 |
21,167 |
33,205 |
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OTHER LIABILITIES |
0 |
0 |
0 |
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TOTAL LIABILITIES |
42,261 |
45,695 |
52,497 |
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Profit And Loss
Account |
RSD (x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
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Unconsolidated |
||||
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OPERATING REVENUES |
64,017 |
86,144 |
71,711 |
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Sales of goods |
64,017 |
86,144 |
71,711 |
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OPERATING EXPENSES |
62,692 |
79,030 |
64,509 |
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Costs of goods sold |
43,986 |
60,164 |
44,980 |
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Raw materials costs |
1,992 |
1,589 |
2,732 |
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Salaries, wages and other personal indemnities |
9,497 |
9,763 |
9,180 |
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Deprecation and provision costs |
548 |
623 |
850 |
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Other operating expenses |
7,804 |
6,891 |
6,767 |
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FINANCIAL REVENUES |
169 |
124 |
175 |
|
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FINANCIAL EXPENSES |
919 |
1,149 |
1,274 |
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Financial P/L |
(750) |
(1,025) |
(1,099) |
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OTHER REVENUES |
492 |
1,310 |
2,052 |
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OTHER EXPENSES |
706 |
829 |
1,615 |
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Other P/L |
(214) |
481 |
437 |
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Profit from regular business operations before tax |
361 |
6,570 |
6,540 |
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Loss from regular business operations before tax |
0 |
0 |
0 |
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Net profit of businesses to be ceased |
0 |
0 |
16 |
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Net loss of businesses to be ceased |
0 |
0 |
0 |
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Profit before taxation |
361 |
6,570 |
6,556 |
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Loss before taxation |
0 |
0 |
0 |
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Taxation on profit |
161 |
1,334 |
1,387 |
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Personal indemnities paid to employer |
0 |
0 |
0 |
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TOTAL REVENUES |
64,678 |
87,578 |
73,938 |
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TOTAL EXPENSES |
64,317 |
81,008 |
67,398 |
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PROFIT OF THE PERIOD |
200 |
5,236 |
5,169 |
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LOSS OF THE PERIOD |
0 |
0 |
0 |
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Number of employees |
6 |
5 |
6 |
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Ratios |
RSD (x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
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Unconsolidated |
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Financial stability ratio |
0.80 |
0.74 |
0.47 |
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Equity ratio % |
58.51 |
53.68 |
36.75 |
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Debt to equity (Worth) |
0.71 |
0.86 |
1.72 |
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Liquidity ratio |
0.64 |
0.58 |
0.35 |
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Current ratio |
0.36 |
2.09 |
1.52 |
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Total assets turnover |
1.51 |
1.89 |
1.37 |
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Average collection period in days |
36 |
52 |
59 |
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Profit margin % |
0.31 |
6.08 |
7.21 |
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Return on total assets % |
0.47 |
11.46 |
9.85 |
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Return on equity % |
0.81 |
21.35 |
26.79 |
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Total assets per employee (ths.) |
7,043.50 |
9,139.00 |
8,749.50 |
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Equity per employee (ths) |
4,121.33 |
4,905.60 |
3,215.33 |
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Total revenue per employee (ths.) |
10,669.50 |
17,228.80 |
11,951.83 |
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Profit per employee (ths.) |
33.33 |
1,047.20 |
861.50 |
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Loss per employee (ths.) |
0.00 |
0.00 |
0.00 |
|
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Average net to salaries (ths.) |
131.90 |
162.72 |
127.50 |
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Corporate structure |
Rep. Offices in Serbia: none Rep. Offices abroad: none Affiliates: - MEGA FARMACIJA GROUP B.V. - U LIKVIDACIJI, Beograd (grad), Serbia (NIN:20286679) (100.00% owned by Branko Vidojevic) Subsidiaries: not identified Immediate parent company: none Other functions and shares of Branko Vidojevic: - MEGA FARMACIJA GROUP B.V. - U LIKVIDACIJI, Beograd (grad), Serbia (NIN:20286679), establisher (100.00%) - MEGA FARMACIJA GROUP B.V. - U LIKVIDACIJI, Beograd (grad), Serbia (NIN:20286679), Liquidator |
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Other info |
Short company name: DINE-TRADE DOO BEOGRAD (DINE-TRADE Ltd. BEOGRAD) |
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Former registered addresses: Uciteljska 22, BEOGRAD |
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Business activity of the company: Subject company DINE-TRADE D.O.O., Serbia (NIN: 07819447) was established in 1992. The company deals with trade supplies in medicine. They are the official distributors for the territory of Serbia, Montenegro and the Serbian Republic for the Japanese house Nipro, Polish GALMED and Indian RIBBEL. Certificates: ISO 9001:2008 - Quality Management Systems; |
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Exchange rate |
31.12.2014 31.12.2013 31.12.2012 31.12.2011 31.12.2010 |
EUR 1 = RSD 117.31 EUR 1 = RSD 114.70 EUR 1 = RSD 113.70 EUR 1 = RSD 104.64 EUR 1 = RSD 105.98 |
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Inflation |
2012: 2011: 2010: |
12.20% 10.30% 7.90% |
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Bankers |
KOMERCIJALNA BANKA A.D. Beograd Svetog Save 14 205-7218-65 |
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KOMERCIJALNA BANKA A.D. Beograd Svetog Save 14 205-0000000149903-71 |
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PROCREDIT BANK A.D. Beograd Bulevar Despota Stefana 68c 220-0000000064355-57 |
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BANCA INTESA A.D. Beograd Milentija Popovica 7 b |
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160-0000000211891-44 |
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No unsettled liability was registered during last 12 months. |
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Debt collection |
Case Registered: |
- |
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Case Status: |
There is no record of any debt collection action. |
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Mode of payment |
Within agreed terms, formerly occasional complaints |
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Credit opinion |
Business connections are permissible |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
RSD |
1 |
Rs.0.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
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.