MIRA INFORM REPORT

 

 

Report No. :

308837

Report Date :

18.02.2015

 

IDENTIFICATION DETAILS

 

Name :

ALPINA, D.O.O.

 

 

Registered Office :

Strojarska ulica 2, 4226 Žiri

 

 

Country :

Slovenia

 

 

Financials (as on) :

31.12.2013

 

 

Year of Establishments :

1947

 

 

Com. Reg. No.:

10003200

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

·         Manufacturer of footwear

manufacturer of fashion and Sports Shoes

Retail sale of footwear and Leather Goods in Specialized Stores

 

 

No of Employees :

357 (2013)

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Moderate

Payment Behaviour :

Slow and delayed

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)

Slovenia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Slovenia ECONOMIC OVERVIEW

 

With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe. Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Yield-seeking bond investors’ strong demand for Slovenian debt helped the government in 2013 to continue to finance itself independently on international markets. The government has embarked on a program of state asset sales intended to bolster investor confidence in the economy, which in 2014 is poised to contract 1%, its third-year of recession.

 

 

 

Source : CIA

 

 

 

Company name & address

 

ALPINA, d.o.o.

Strojarska ulica 2,

4226 Žiri

Phone: 04 515 80 00

Telefax:             04 515 83 70

E-Mail:              alpina@alpina.si

Web:                www.alpina.si

 

 

Company summary

 

Legal form

d.o.o. - Limited liability company (Ltd.)

 

Established on

1947 -

16/12/1984 - d.o.o. - Limited liability company (Ltd.)

 

last entry on 23.1.2015

 

On 4.1.2012 company divided a part of the property and employees and transfer it to the company A-NEPREMIČNINE d.o.o. (Co.Nu.6055443)

 

on 16.11.2009 conversion from Joined stocked Company to Limited liability company (Ltd.)

 

on owners shares are pawn rights registered

Registered on

26/05/1995, Kranj,

 

Registration number: 10003200

 

Tax number: SI61162663

 

Company number: 5034728

Events, negative data

21.07.2014 - Opening of compensatory payment proceedings

Remark:

registration of claims until 21.08.2014

Registered capital

 

EUR

8.647.471,21

 

Owner

Alpina Holding, d.d. (Statistical number: 2182661)

Stegne 21c, 1000 Ljubljana

EUR

7.640.711,07

 

 

ALPINA, d.o.o. (Statistical number: 5034728)

Strojarska ulica 2, 4226 Žiri

EUR

1.006.760,14

 

Manager

Matjaž Delopst

Savinjska cesta 37, 3330 Mozirje

director

 

(stand per 17.2.2015)

 

Supervisory Board

Helena Rupnik

Rovte 50b, 1373 Rovte

member of the supervisory board

 

Matija Repolusk

Tržaška cesta 121, 1000 Ljubljana

member of the supervisory board

 

Miha Štepec

Milčinskega ulica 51, 1000 Ljubljana

chairman of the supervisory board

 

Sergej Murgelj

Ljubljanska cesta 5B, 3000 Celje

Vice chairman of the board of directors

 

Špela Rihar

Cesta Jožeta Krajca 17, 1381 Rakek

member of the supervisory board

 

Vital Justin

Pionirska pot 5, 4226 Žiri

member of the supervisory board

 

(stand per 17.2.2015)

 

General data

Business activity is manufacture of fashion and sports shoes, Trade

cooperation, wholesale and retail trade, import-export

Major suppliers;

Concerina Cristina, Rotafella, Res, Spel Italy, Conceria Niger Italy,

Kampana Deri u.a.

Major customers;

Alpina Sports USA,SPS Sportproduct Germany, Back country Sweden,

Alpina Norway, Alpina Cro, Alpina BH,SA Besson France

Business headquarters and premises are located on the address above

52 stores are located in entire Slovenia and 75 stores in other

countrys

 

 

Main activity:

Manufacture of footwear (NACE 2)

 

 

Export:

USA

European Union

Ukraine

Japan

Canada

Croatia

Switzerland

 

 

Import:

Italy

Bosnia-Hercegovina

Turkey

India

 

 

 

 

Residence address:

Strojarska ulica 2, 4226 Žiri

Phone:

04 515 80 00

Telefax:

04 515 83 70

E-Mail:

alpina@alpina.si

Web:

www.alpina.si

Other activities

 

NACE 2:

 

 

 

Retail sale of footwear and leather goods in specialized stores

 

Employees

2007

719 employees

 

2008

724 employees

 

2009

578 employees

 

2010

393 employees

 

2011

385 employees

 

2012

368 employees

 

2013

357 employees

 

Group of Alpina

2007 / 1703 employees

2008 / 1680 employees

2009/ 1.686 empoyees

2010/ 1.588 empoyees

2011 /1.782 employees

2012 /1.535 employees

2013 /1.505 employees

 

Annual turnover

2008

Enterprise turnover

EUR

52.360.256,-

 

 

2009

Enterprise turnover

EUR

50.065.182,-

 

 

2010

Enterprise turnover

EUR

52.998.991,-

 

 

2011

Enterprise turnover

EUR

58.025.043,-

 

 

2012

Enterprise turnover

EUR

46.652.743,-

 

 

2013

Enterprise turnover

EUR

47.979.303,-

 

 

Group of Alpina:

Annual turnover 2007 EUR 62.497.630,00

Net profit 2007 EUR 651.976,00

Annual turnover 2008 EUR 64.126.812,00

Net loss 2008 EUR 521.617,00

Annual turnover 2009 EUR 60.584.678,--

Net loss 2009 EUR -4.559.111,--

Annual turnover 2010 EUR 64.699.630,--

Loss 2010 EUR -4.649.093,--

Annual turnover 2011 EUR 70.007.511,--

Profit 2011 EUR 760.484,--

Annual turnover 2012 EUR 57.462.630,--

loss 2012 EUR 6.815.754,--

Annual turnover 2013 EUR 58.784.292,--

loss 2013 EUR - 2.935.503,--

 

Property

Company's property: Business premises

 

SI-4226 Žiri, Strojarska ulica 2

 

Remarks

Full name of the company:

ALPINA, tovarna obutve d.o.o.

 

Participation in capital:

Alpina CRO d.o.o. (90,19% share)

Alpina BH d.o.o. Sarajevo (99,65% share)

Alpina Yug d.o.o. Beograd (90% share)

Alpina Fogs d.d. Sarajevo (96,54,% share)

SC Alpina Siro s.r.l. (100% share)

Zhongshan Alpina Footwear Co.,Ltd (97% share)

Alpina UA Ltd (85% share)

Alpina Sports Corp. (82,24% share)

A Prodaja d.o.o. (100% share)

Alpina Bromy d.o.o. (90% share)

Alpinamak d.o.o. (90% share)

Alpina Kos SH.P.K. (67% share)

Reno obutev d.o.o. (92,59% share)

(stand per 31.12.2013)

 

 

Interests

Miha Štepec:

 

SEMENARNA Ljubljana, d.d. (Statistical number: 5005574)

Supervisory Board

 

 

Sergej Murgelj:

 

ADRIA AIRWAYS TEHNIKA d.d. (Statistical number: 3727980)

Supervisory Board

 

Bank relations

NOVA LJUBLJANSKA BANKA d.d., LJUBLJANA:

Central address: SI Trg republike 2, 1520 Ljubljana

Account number: SI56 020240017441044

 

SKB BANKA d.d. LJUBLJANA:

Central address: SI Ajdovščina 4, 1513 Ljubljana

Account number: SI56 031381003782562

 

NOVA KREDITNA BANKA MARIBOR d.d.:

Central address: SI Ulica Vita Kraigherja 4, 2505 Maribor

Account number: SI56 045150001290414

 

ABANKA VIPA d.d.:

Central address: SI Slovenska cesta 58, 1517 Ljubljana

Account number: SI56 051008000021720

 

HYPO ALPE-ADRIA-BANK d.d.:

Central address: SI Dunajska cesta 117, 1000 Ljubljana

Account number: SI56 330000002987591

 

Terms of payment

Slow & Delayed

 

Business connection

Business connection are rejected

 

 

 

Financial data

 

A. The enclosed balance of 2013 is originated from official source, it is not authenticated by the auditor. (31.12.2013 - 1 EUR)

B. The enclosed balance of 2012 is originated from official source, it is not authenticated by the auditor. (31.12.2012 - 1 EUR)

C. The enclosed balance of 2011 is originated from official source, it is authenticated by the auditor . (31.12.2011 - 1 EUR)

D. The enclosed balance of 2010 is originated from official source, it is not authenticated by the auditor. (31.12.2010 - 1 EUR)

 

balance sheet

A 31.12.2013

B 31.12.2012

C 31.12.2011

D 31.12.2010

ASSETS (AKTIVA)

59.592.880

60.768.783

68.354.885

62.429.097

LONG-TERM ASSETS

25.219.863

28.336.800

32.856.582

29.647.012

Intangible assets and long-term deferred costs and accrued revenues

128.324

176.482

154.929

181.082

Intangible assets

128.324

176.482

 

 

Long-term deferred costs and accrued revenues

0

0

 

 

Tangible fixed assets

12.050.868

12.862.016

13.479.155

14.581.253

Long-term financial investments and Real estate investments

10.550.961

11.851.121

 

 

Investment property

909.313

909.313

2.245.250

2.077.450

Long-term financial investments

9.641.648

10.941.808

11.664.207

7.888.680

Long-term operating receivables

1.164.594

2.233.740

3.974.164

3.544.748

Deferred receivables for taxes

1.325.116

1.213.441

1.338.877

1.373.799

SHORT-TERM ASSETS

34.311.049

32.401.502

35.447.298

32.740.280

Assets (group for estrange) for sell

0

0

 

 

Inventories

13.613.260

14.477.140

17.767.617

16.224.610

Short-term financial investments

3.011.428

2.012.179

327.159

2.041.440

Short-term operating receivables

17.316.293

25.790.739

17.241.838

14.419.037

Cash assets

370.068

121.444

110.684

55.193

Short-term deferred costs and accrued revenues

61.968

30.481

51.005

41.805

Off-balance sheet items

0

0

 

0

LIABILITIES

59.592.880

60.768.783

68.354.885

62.429.097

CAPITAL

10.407.441

12.331.292

18.962.311

18.823.396

Called-up capital

8.647.471

8.647.471

8.647.471

8.647.471

Basic (subscribed) capital

8.647.471

8.647.471

8.647.471

 

Non called-up capital (deductive item)

0

0

 

 

Capital reserves

0

5.598.419

5.598.419

8.801.057

Reserves from profit

0

0

0

0

Surplus from revaluation

4.185.834

4.306.315

4.289.674

4.577.505

Retained net

-449.021

0

191.625

0

Net business result for the business year

-1.976.843

-6.220.913

235.121

-3.202.637

PROVISIONS AND LONG-TERM ACCRUED COSTS AND DEFERRED REVENUES

314.102

302.465

308.352

291.912

FINANCIAL AND BUSINESS LIABILITIES

48.565.357

47.691.797

48.615.303

42.627.790

LONG-TERM LIABILITIES

14.194.171

14.845.789

18.519.907

17.507.078

Long-term financial liabilities

13.333.831

13.936.500

17.390.963

16.320.000

Long-term operating liabilities

3.000

15.959

34.099

30.948

Deferred liabilities for taxes

857.340

893.330

1.094.845

1.156.130

SHORT-TERM LIABILITIES

34.371.186

32.846.008

30.095.396

25.120.712

Liabilities, included in groups for estrange

0

0

0

0

Short-term financial liabilities

18.111.464

18.284.517

13.699.250

15.045.904

Short-term operating liabilities

16.259.722

14.561.491

16.396.146

10.074.808

SHORT-TERM ACCRUED COSTS AND DEFERRED REVENUES

305.980

443.229

468.919

685.999

Off-balance sheet items

0

0

0

0

 

A. The enclosed profit and loss account of 2013 is originated from official source, it is not authenticated by the auditor. (31.12.2013 - 1 EUR)

B. The enclosed profit and loss account of 2012 is originated from official source, it is not authenticated by the auditor. (31.12.2012 - 1 EUR)

C. The enclosed profit and loss account of 2011 is originated from official source, it is authenticated by the auditor . (31.12.2011 - 1 EUR)

D. The enclosed profit and loss account of 2010 is originated from official source, it is not authenticated by the auditor. (31.12.2010 - 1 EUR)

profit and loss account

A 31.12.2013

B 31.12.2012

C 31.12.2011

D 31.12.2010

Net sales

47.796.198

44.126.174

55.659.177

50.927.706

Changes in the value of inventories of products and work-in-process

-1.006.087

-1.408.820

588.990

201.390

Capitalised own products and own services

87.718

283.983

140.605

104.404

Other operating revenues (with subventions, grants,...)

192.421

157.453

422.646

922.522

GROSS OPERATING YIELD

47.070.250

43.158.790

 

 

Cost of goods, material and services

40.032.214

38.084.031

46.608.731

43.292.206

Purchase value of goods and materials sold and cost of material and cost of material used

27.560.974

25.257.398

 

 

Cost of services

12.471.240

12.826.633

 

 

Labour cost

5.888.601

6.326.737

6.345.071

6.569.375

Cost of wages

4.385.040

4.705.689

 

 

Cost of pension insurance

66.181

76.377

 

 

Cost of other social insurance

706.511

799.321

 

 

Other labour cost

730.869

745.350

 

 

Write-offs

1.895.829

4.397.832

1.825.138

1.627.365

Depreciation

0

0

 

 

Revaluation operating expenses for non-tangible assets and tangible fixed assets

0

0

 

 

Revaluation operating expenses for current assets

0

0

 

 

Other operating expenses

186.645

167.181

133.273

218.906

OPERATING REVENUES

48.076.337

44.567.610

 

 

OPERATING EXPENSES

48.003.289

48.975.781

 

 

OPERATING RESULT

73.048

-4.408.171

 

 

EBIT

-933.039

-5.816.991

 

 

Financial income from investments in other enterprises

0

2.392.174

3.368

1.474

Financial income from loans

376.118

448.634

475.862

431.250

Financial income from operating receivables

523.624

606.242

715.927

390.566

Financial expenses from depreciation and write-offs of financial investments

436.779

1.857.914

24.000

4.849.825

Financial expenses from financial liabilities

1.203.798

1.935.460

1.832.188

1.650.310

Financial expenses from operating liabilities

465.645

624.269

1.020.043

341.008

Financial income

899.742

3.447.050

 

 

Financial expenses

2.106.222

4.417.643

 

 

Other revenues

9.311

46.903

18.468

19.679

Other expenses

5.156

15.215

3.790

6.686

Total revenues

47.979.303

46.652.743

 

 

Total costs

50.114.667

53.408.639

 

 

Total business result

-2.135.364

-6.755.896

 

 

Tax on profit

0

0

0

0

Deferred taxs

-158.521

74.263

-2.312

-563.312

Net business result for the accounting period

-1.976.843

-6.830.159

235.121

-4.993.378

 

Ratios

 

2010

2011

2012

2013

 

Equity ratio

n/a

0,13

0,14

0,15

 

Cleared equity ratio

n/a

0,07

0,08

0,08

 

Current liquidity

1,3

1,18

0,99

1

 

Quick liquidity

0,66

0,59

0,55

0,6

 

Working capital

7619568

5351902

-444506

-60137

 

Gearing

n/a

7,9

7,03

6,89

 

Cleared gearing

-6,85

7,13

7,42

7,05

 

Profitability

n/a

n/a

-14,48

-4,45

 

Operating profitability

n/a

n/a

-14,64

-4,12

 

Stock days

n/a

n/a

113

104

 

Debtor days

n/a

n/a

202

132

 

Supplier days

n/a

n/a

114

124

Copyright:,

This information is addressed exclusively to addresse. We don't assume responsibility for negligence referring to the content of this information.

 

On behalf of the objective information, please inform us if you have different observations.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.20

UK Pound

1

Rs.95.99

Euro

1

Rs.71.00

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MNL

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.