|
Report No. : |
301581 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
KLABIN S A |
|
|
|
|
Registered Office : |
Avenida Brigadeiro Faria Lima,3600 3º, 4º E 5º Andares - Itaim Bibi,
04538-132 - São Paulo/SP |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
08.11.1978 |
|
|
|
|
Legal Form : |
Publicly Held Corporation |
|
|
|
|
Line of Business : |
Manufacture of Paper and Paper Products. |
|
|
|
|
No. of Employee : |
9000 |
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 : |
Regular |
|
Litigation : |
Exist |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BRAZIL - ECONOMIC OVERVIEW
Characterized by large and
well-developed agricultural, mining, manufacturing, and service sectors, and a rapidly
expanding middle class, Brazil's economy outweighs that of all other South
American countries, and Brazil is expanding its presence in world markets.
Since 2003, Brazil has steadily improved its macroeconomic stability, building
up foreign reserves, and reducing its debt profile by shifting its debt burden
toward real denominated and domestically held instruments. In 2008, Brazil
became a net external creditor and two ratings agencies awarded investment
grade status to its debt. After strong growth in 2007 and 2008, the onset of
the global financial crisis hit Brazil in 2008. Brazil experienced two quarters
of recession, as global demand for Brazil's commodity-based exports dwindled
and external credit dried up. However, Brazil was one of the first emerging
markets to begin a recovery. In 2010, consumer and investor confidence revived
and GDP growth reached 7.5%, the highest growth rate in the past 25 years.
Rising inflation led the authorities to take measures to cool the economy;
these actions and the deteriorating international economic situation slowed
growth in 2011-13. Unemployment is at historic lows and Brazil's traditionally
high level of income inequality has declined for each of the last 14 years.
Brazil's historically high interest rates have made it an attractive
destination for foreign investors. Large capital inflows over the past several
years have contributed to the appreciation of the currency, hurting the
competitiveness of Brazilian manufacturing and leading the government to intervene
in foreign exchange markets and raise taxes on some foreign capital inflows.
President Dilma ROUSSEFF has retained the previous administration's commitment
to inflation targeting by the central bank, a floating exchange rate, and
fiscal restraint.
|
Source
: CIA |
KLABIN S A
ADDRESSES |
|
MAIN ADDRESS: |
AVENIDA BRIGADEIRO FARIA LIMA,3600 3º, 4º E 5º ANDARES - ITAIM BIBI |
|
ZIP CODE/CITY: |
04538-132 - SÃO PAULO/SP |
|
|
|
|
PHONE: |
11 3046-5800 |
|
FAX: |
11 3046-5800 |
|
E-MAIL: |
klabin@klabin.com.br |
|
WEB SITE: |
www.klabin.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
AVENIDA OLINKRAFT,6602 - IGATAS |
|
ZIP CODE/CITY: |
88540-000 OTACÍLIO COSTA/SC |
|
CNPJ: |
89.637.490/0138-08 |
|
|
|
|
ADDRESS: |
AVENIDA CRISTOVÃO COLOMBO,2307 - SANTA TEREZINHA |
|
ZIP CODE/CITY: |
13405-465 PIRACICABA/SP |
|
CNPJ: |
896.374.900-01 |
|
|
|
|
ADDRESS: |
RODOVIA BR 116 - KM,247 - ÁREA INDUSTRIAL |
|
ZIP CODE/CITY: |
88514-400 LAGES/SC |
|
CNPJ: |
89.637.490/0136-38 |
|
|
|
|
ADDRESS: |
AVENIDA DOM HÉLDER CÂMARA,5000 - DEL CASTILHO |
|
ZIP CODE/CITY: |
20771-004 RIO DE JANEIRO/RJ |
|
CNPJ: |
89.637.490/0148-71 |
|
|
|
|
ADDRESS: |
FAZENDA MONTE ALEGRE, S/N°.,0 |
|
ZIP CODE/CITY: |
84275-000 TELÊMACO BORBA/PR |
|
PHONE: |
42 3271-5000 |
|
CNPJ: |
89.637.490/0133-95 |
|
|
|
|
ADDRESS: |
RUA FORMOSA,367 - 7º, 18º PARTE E 26º - PARTE ANDARES - CENTRO |
|
ZIP CODE/CITY: |
01049-000 SÃO PAULO/SP |
|
CNPJ: |
89.637.490/0161-49 |
|
|
|
|
ADDRESS: |
AVENIDA JOÃO ANTONIO MECCATTI,1575 |
|
ZIP CODE/CITY: |
JUNDIAÍ/SP |
|
PHONE: |
11 4588-7000 |
|
THE COMPANY ALSO HAS OTHER BRANCHES LOCATED IN: RIO DE JANEIRO/RJ,
CAMAÇARÍ/BA, SÃO PAULO/SP, TELÊMACO BORMA/PR, IVAÍ/PR, PARANAGUÁ/PR, OTACÍLIO
COSTA/SC, JUNDIAÍ/SP, PIRACICABA/SP, SÃO LEOPOLDO/RS, BETIM/MG,
GUAPIMIRIM/RJ, GOIÂNIA/GO, CURITIBA/PR, GOIANA/PE, PETOLINA/PE, RECIFE/PE,
PONTE NOVA/MG, ITAQUAQUECETUBA/SP, ITAJAÍ/SC, FEIRA DE SANTANA/BA, CORREIA
PINTO/SC AND LAGES/SC. |
LEGAL DATA |
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF PAPER AND PAPER PRODUCTS. |
|
LEGAL FORM: |
PUBLICLY HELD
CORPORATION |
|
|
|
|
INCORPORATION DATE: |
08/11/1978 |
|
REGISTER DATE: |
08/11/1978 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
89.637.490/0001-45 |
|
STATE REGISTER: |
112.377.425.117 |
|
|
|
|
SHARE CAPITAL: |
R$ 2.271.500.086,40 |
|
LAST REGISTER OF CAPITAL: |
22/08/2014 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
FABIO SCHVARTSMAN |
PRESIDENT DIRECTOR |
|
ANTONIO SERGIO ALFANO |
INVESTORS RELATIONS DIRECTOR |
|
CRISTIANO CARDOSO TEIXEIRA |
DIRECTOR |
|
PAULO ROBERTO PETTERLE |
DIRECTOR |
|
FRANCISCO CESAR RAZZOLINI |
DIRECTOR |
|
ARTHUR CANHISARES |
DIRECTOR |
AUTHORIZED USE OF SIGNATURE |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
KLABIN IRMÃOS & CIA. |
53,25% |
|
NIBLAK PARTICIPAÇÕES S/A |
8,03% |
|
MONTEIRO ARANHA S/A |
3,94% |
|
BNDES PARTICIPAÇÕES S/A-BNDESPAR |
4,50% |
|
BLACKROCK INC. |
1,67% |
|
TREASURY SHARES |
1,68% |
|
OTHERS |
26,93% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
KLABIN FOREST PRODUCTS |
100,0% |
|
KLABIN ARGENTINA S.A. |
100,0% |
|
KLABIN LTD |
100,0% |
|
TIMBER HOLDINGS S.A. |
100,0% |
|
IKAPE EMPREENDIMENTOS LTDA. |
|
|
ANTAS SERVIÇOS FLORESTAIS LTDA. |
|
|
KLABIN DO PARANA PRODUTOS FLORESTAIS LTDA. |
|
|
IKPC - INDUSTRIAS KLABIN DE PAPEL E CELULOSE S.A. |
|
|
ULTRAQUIMICA NOVA S/A |
|
|
KLAMASA PARTICIPAÇÕES S.A. |
|
|
MRZ MANUTENÇÃO INDUSTRIAL LTDA. |
|
|
KLABIN EXPORT S/A. |
|
COMPANY'S BACKGROUND |
|
THE KLABIN GROUP IS ONE OF THE OLDEST BRAZILIAN ORGANIZATIONS THAT ARE
ENGAGED IN THE CELLULOSE AND PAPER SECTORS. ITS FOUNDER, THE KLABIN IRMÃOS
& CIA., ACTED IN THE TRADE AND IMPORT OF PAPERS SINCE 1899, WHEN IN 1906
SET UP ITS FIRST PAPER MANUFACTURING UNIT IN SÃO PAULO. IN 1934, THE IKPC-INDÚSTRIAS KLABIN DE PAPEL E CELULOSE S.A. WAS SET
UP AIMED AT ACQUIRING A LARGE REFORESTING AREA OF PINE IN THE STATE OF PARANÁ
NAMED FAZENDA MONTE ALEGRE (MONTE ALEGRE FARM). CONCERNED TO THE SOCIO-CULTURAL CHANGES IN THE BRAZILIAN SOCIETY, THE
KLABIN GROUP IMPORTED THE REQUIRED MACHINERY FROM EUROPE AND FOUNDED, IN
1953, THE FACTORY OF PROMOTIONAL MATCHES AND INCREASED ITS PRODUCTION OF
CORRUGATED CARDBOARD. IN THE 50'S, KLABIN IRMÃOS & CIA. WAS POINTED OUT
AS ONE OF THE COUNTRIES' LARGEST INDUSTRIAL COMPLEXES. IN 1960, WITH A BIG
EXPANSION PROJECT NAMED "PROJETO II", AND FOUNDED THE COMPANY PAPEL
E CELULOSE CATARINENTE LTDA. IN THE 70'S, THE EXPANSION OF THE KLABIN GROUP WAS FOCUSED ON THE
PACKAGING, SYNTHETIC THREADS AND DISPOSABLE PAPERS SECTORS. ON MARCH 10, 1982, THE KIV PARTICIPAÇÕES S/A, ESTABLISHED BY THE
COMPANIES IKPC-INDÚSTRIAS KLABIN PAPEL E CELULOSE S/A, PARISA PARTICIPAÇÕES
S/A (IOCHPE GROUP) AND S/A INDÚSTRIAS VOTORANTIM - ACQUIRED THE SHAREHOLDING
INTEREST OF RASA - RIOCELL ADMINISTRAÇÃO S/A, LATER RIOCELL S/A, CURRENTLY
KLABIN S/A. IN OCTOBER 1995, IKPC-INDÚSTRIAS KLABIN DE PAPEL E CELULOSE S/A,
ACQUIRED THE PARTICIPATION OF VOTORANTIM IN KIV AND, IN 2000, THROUGH
EXCHANGE OF SHARES, BECAME DIRECTLY AND INDIRECTLY HOLDER OF 99% OF THE
SHARES OF KLABIN RIOCELL S/A, CURRENTLY KLABIN S/A. IN JULY 1997, THE KLABIN GROUP, THOUGH THE IKPC PARTICIPAÇÕES S/A AND
KIMBERLY CLARK WORLDWIDE INC, THOUGH KIMBERLY CLARK ARGENTINA HOLDINGS S/A,
ASSOCIATED, WITH EQUAL SHAREHOLDING (BEING 50% OF THE REPRESENTATIVE SHARE
CAPITAL FOR EACH ONE), TO SET UP THE KCK TISSUE S/A, IN ARGENTINA, AIMING AT
OPERATING IN THE TOILET PAPER SECTOR OF THE ARGENTINEAN MARKET. IN MAY 1998, THOUGH THE IKPC-PAR, THE KLABIN GROUP AND KIMBERLY CLARK
CORPORATION COMBINED TO FORM KLABIN TISSUE S.A., WITH EQUAL PARTICIPATION, TO
BE ENGAGED IN THE TOILET PAPER SECTOR OF THE BRAZILIAN MARKET. FROM JANUARY 01, 1999, KLABIN TISSUE HAD ITS CORPORATE NAME CHANGED TO
KLABIN KIMBERLY S.A. PRESENTLY, KLABIN KIMBERLY HAS FOUR PLANTS BEING TWO
LOCALIZED IN THE STATE OF SÃO PAULO, ONE IN SANTA CATARINA AND ONE IN BAHIA. ITS
PARTICIPATION IN THE SANITARY PAPER MARKET, ACCORDING TO THE NIELSEN (OPINION
RESEARCH INSTITUTE), IS OF 27%. IN JULY 1999, KLABIN KIMBERLY S/A, ACQUIRED
THE COMPANY LALEKLA, WITH THE OBJECTIVE OF ACTING IN THE AWAY-FROM-HOME
INSTITUTIONAL TOILET PAPER MARKET (AWAY-FROM-HOME LINE). IN JANUARY 1999, KLABIN FABRICADORA DE PAPEL E CELULOSE S.A.,
CURRENTLY NAMED INDÚSTRIAS KLABIN S.A., TOOK OVER THE CONTROLLED CELUCAT S.A. IN NOVEMBER 1999, KLABIN KIMBERLY ACQUIRED THE COMPANY BACRAFT S/A
INDÚSTRIA DE PAPEL, A SUZANO GROUP COMPANY, INCREASING ITS PARTICIPATION IN
THE TOILET PAPER AND HYGIENE PRODUCTS (TISSUE PAPERS) SEGMENTS. ON MARCH 30, 2000, INDÚSTRIAS KLABIN AND THE NORWEGIAN NORSKE SKOG
INDUSTRIER, SECOND WORLD'S LARGEST MANUFACTURER OF PRESS PAPER, THROUGH ITS
BRAZILIAN SUBSIDIARY NORSKE SKOG DO BRASIL LTDA., COMBINED TO FORM THE
COMPANY - WITH EQUAL PARTICIPATION (50-50%) - NORSKE SKOG KLABIN COMÉRCIO E
INDÚSTRIA LTDA., ENGAGED IN THE PRODUCTION AND COMMERCIALIZATION OF PRESS
PAPER. IN OCTOBER 03, 2000, IKPC FINISHED THE ACQUISITION OF THE TOTAL
REPRESENTATIVE SHARES OF IGARAS PAPÉIS E EMBALAGENS S.A., THROUG THE COMPANY
TIQUIE S.A., A SUBSIDIARY OF INDÚSTRIAS KLABIN S.A., HEADQUARTERED IN
URUGUAY. ON DECEMBER 28, 2001 KLABIN S/A (FORMERLY KLABIN RIOCELL S.A.), TOOK
OVER THE ASSETS AND LIABILITIES OF THE COMPANIES IKPC-INDÚSTRIAS KLABIN DE
PAPEL E CELULOSE S.A., KIV PARTICIPAÇÕES S.A., INDÚSTRIAS KLABIN S.A.,CNPJ
59.368.100/0001-18, KLABIN EXPORT S.A., IGARAS PAPÉIS E EMBALAGENS S.A.,
KLABIN DO PARANÁ MINERAÇÃO LTDA. AND KLABIN MADEIRAS LTDA., CONSOLIDATING ALL
ITS ACTIVITIES INTO A SINGLE PRIVATELY HELD CORPORATION NOW OPERATING AS
KLABIN S/A. AFTER THE TAKEOVER SUCH COMPANIES CEASED EXISTING. THE ACTIVITIES OF KLABIN GROUP, INVOLVES FROM THE REFORESTATION UP TO
MANUFACTURING OF SHORT- AND LONG-FIBERS CELLULOSE, PRINTING AND PACKAGING
PAPERS, AND THE CONVERSION OF PAPERS INTO DISPOSABLE HYGIENIC PRODUCTS,
CORRUGATED CARDBOARD BOXES, MULTILAYERED BAGS, ENVELOPES AND PACKAGING CARDS.
THE KLABIN GROUP, COUNTS WITH A TOTAL LAND AREA OF 427.000 HECTARES, BEING
255.000 HECTARES OF PLANTED PINE AND EUCALYPTUS FORESTS, WHICH ARE PRESERVED
135.000 HECTARES OF WILD FORESTS. ON DECEMBER 27, 2013 SUBJECT TOOK OVER THE WHOLLY-OWNED SUBSIDIARIES
CENTAURUS HOLDINGS S.A. AND KLABIN CELULOSE S.A. AT THE INFORMED ADDRESS “FAZ APUCARANA GRANDE SN KM 2 84350-000
ORTIGUEIRA” SHALL BE ESTABLISHED ITS NEW FACTORY. FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
PROTESTS: |
|
18 PROTESTS,TOTAL AMOUNT R$
189.707,35 |
|
DATE OF FIRST PROTEST:
06/2013 R$ 18.097,66 |
|
DATE OF HIGHEST PROTEST:
05/2014 R$ 42.950,50 |
|
DETAILS OF LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
4º CARTÓRIO DE RJ-RIO DE JANEIRO |
08/12/2014 |
R$ 110,00 |
|
2º CARTÓRIO DE PE-GOIANA |
17/11/2014 |
R$ 38.058,79 |
|
5º CARTÓRIO DE SP-SÃO PAULO |
19/11/2014 |
R$ 2.813,33 |
|
1º CARTÓRIO DE SP-ANGATUBA |
27/11/2014 |
R$ 1.080,28 |
|
CARTÓRIO DE PR-TELEMACO BORBA |
18/12/2014 |
R$ 2.047,60 |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
STATE LAWSUIT |
28/04/10 |
1º VARA PR-CURITIBA |
|
5 |
MUNICIPAL LAWSUITS |
15/10/14 |
VARA DE SC-LAGES |
|
3 |
FEDERAL LAWSUITS |
03/11/14 |
12ª VARA DE SP-SÃO PAULO FEDERAL |
|
1 |
EXECUTIVE LAWSUIT |
03/03/10 |
1ª VARA DE SC-ITUPORANGA |
|
1 |
MONITORY SUIT |
09/10/13 |
9ª VARA DE SP-SP-CENTRAL |
FINANCIAL INFORMATION |
|
GENERAL BALANCE SHEETS AS OF 30/09/2014, 31/12/2013 AND 31/12/2012. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
30/09/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS |
4.146.063 |
2.401.822 |
2.157.148 |
|
CLIENTS |
968.004 |
981.039 |
755.817 |
|
DOUBTFUL DEBTORS |
-47.852 |
-47.153 |
|
|
INTERCOMPANY CREDITS |
461.524 |
378.934 |
402.798 |
|
INVENTORY |
470.250 |
457.636 |
438.091 |
|
RECOVERABLE TAXES |
248.606 |
113.687 |
130.441 |
|
PRE PAID EXPENSES |
18.177 |
22.490 |
22.332 |
|
INVESTMENTS |
484.218 |
249.511 |
240.077 |
|
OTHER CREDITS |
48.007 |
56.972 |
60.465 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
6.796.997 |
4.614.938 |
4.207.169 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INTERCOMPANY CREDITS |
2.472 |
1.526 |
1.687 |
|
JUDICIAL DEPOSITS |
86.600 |
89.537 |
85.691 |
|
RECOVERABLE TAXES |
354.036 |
123.684 |
128.402 |
|
BIOLOGICAL ASSETS |
3.170.286 |
2.819.598 |
2.944.187 |
|
OTHER CREDITS |
202.624 |
167.001 |
151.864 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
3.816.018 |
3.201.346 |
3.311.831 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
1.266.884 |
1.145.636 |
1.278.797 |
|
FIXED ASSETS |
7.209.673 |
5.670.990 |
5.003.707 |
|
INTANGIBLE |
11.509 |
9.133 |
8.486 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
8.488.066 |
6.825.759 |
6.290.990 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
19.101.081 |
14.642.043 |
13.809.990 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
30/09/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
LOANS AND FINANCING |
1.502.143 |
1.126.153 |
1.120.770 |
|
SUPPLIERS |
329.704 |
342.126 |
313.559 |
|
TAX LIABILITIES |
51.031 |
37.899 |
107.472 |
|
INTERCOMPANY DEBTS |
8.406 |
52.912 |
9.665 |
|
SOCIAL / LABOR OBLIGATIONS |
141.690 |
125.415 |
123.934 |
|
FISCAL RECOVERY PROGRAM - REFIS |
50.400 |
50.400 |
39.383 |
|
OTHER DEBTS |
74.563 |
48.082 |
39.699 |
|
PROVISIONS |
|
16.860 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
2.157.937 |
1.799.847 |
1.754.482 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
6.568.050 |
5.842.135 |
4.914.334 |
|
DEFERRED TAXES |
1.521.509 |
1.045.201 |
1.190.673 |
|
PROVISION FOR CONTINGENCIES |
86.341 |
95.904 |
83.189 |
|
OTHER |
70.519 |
72.797 |
56.598 |
|
FISCAL RECOVERY PROGRAM - REFIS |
387.045 |
393.492 |
389.793 |
|
DEBENTURES |
1.018.755 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
9.652.219 |
7.449.529 |
6.634.587 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
2.271.500 |
2.271.500 |
2.271.500 |
|
CAPITAL RESERVES |
1.295.919 |
4.419 |
1.423 |
|
REVALUATION RESERVES |
48.789 |
49.269 |
49.980 |
|
PROFIT RESERVES |
1.912.261 |
2.159.949 |
2.016.639 |
|
ACCRUED PROFIT (LOSS) |
706.189 |
|
|
|
OTHER COMPREHENSIVE INCOME |
1.056.267 |
1.065.437 |
1.081.379 |
|
TREASURY SHARES |
|
-157.907 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
7.290.925 |
5.392.667 |
5.420.921 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
19.101.081 |
14.642.043 |
13.809.990 |
|
PROFIT AND LOSS ACCOUNTS AS OF 30/09/2014, 31/12/2013 AND 31/12/2012. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
30/09/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
NET SALES |
3.581.362 |
4.489.717 |
4.038.936 |
|
(-) COST OF SOLD GOODS |
1.897.126 |
2.865.373 |
2.441.177 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
1.684.236 |
1.624.344 |
1.597.759 |
|
OPERATING REVENUE (EXPENSE) |
-281.748 |
-504.056 |
-149.350 |
|
FINANCIAL REVENUE(EXPENSE) |
-190.325 |
-751.637 |
-523.316 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
1.212.163 |
368.651 |
925.093 |
|
CONTRIBUTION/INCOME TAX |
-354.462 |
-78.554 |
-173.128 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
857.701 |
290.097 |
751.965 |
|
RATIOS: |
30/09/2014 |
31/12/2013 |
31/12/2012 |
|
QUICK RATIO |
2,93 |
|
2,31 |
|
2,15 |
|
|
CURRENT RATIO |
3,15 |
|
2,56 |
|
2,40 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
3,70 |
TIMES |
4,58 |
TIMES |
5,34 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
72,98 |
DAYS |
78,66 |
DAYS |
67,37 |
DAYS |
|
INVENTORY TURNOVER |
4,03 |
TIMES |
6,26 |
TIMES |
5,57 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
46,92 |
DAYS |
42,98 |
DAYS |
46,24 |
DAYS |
|
RETURN ON ASSETS |
,19 |
TIMES |
,31 |
TIMES |
,29 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
,49 |
TIMES |
,83 |
TIMES |
,75 |
TIMES |
|
NET WORTH TIE-UP |
,99 |
|
1,05 |
|
,92 |
|
|
INDEBTEDNESS |
1,62 |
|
1,72 |
|
1,55 |
|
|
EQUITY RATIO |
38,17 |
% |
36,83 |
% |
39,25 |
% |
|
WORKING CAPITAL RATIO |
214,98 |
% |
156,41 |
% |
139,80 |
% |
|
GENERAL SOLVENCY |
1,62 |
|
1,58 |
|
1,65 |
|
|
RETURN ON NET EQUITY |
11,76 |
% |
5,38 |
% |
13,87 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
23,95 |
% |
6,46 |
% |
18,62 |
% |
|
GROSS PROFIT MARGIN |
47,03 |
% |
36,18 |
% |
39,56 |
% |
|
OPERATIONAL RESULT |
33,85 |
% |
8,21 |
% |
22,90 |
% |
|
SALES TURNOVER ON LIABILITIES |
1,66 |
TIMES |
2,49 |
TIMES |
2,30 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,71 |
- OFFICIAL RATE ON 05/01/2015 |
|
US$ 1,00 = R$ 2,45 |
- OFFICIAL RATE ON 30/09/2014 |
|
US$ 1,00 = R$ 2,34 |
- OFFICIAL RATE ON 31/12/2013 |
|
US$ 1,00 = R$ 2,04 |
- OFFICIAL RATE ON 31/12/2012 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE ANNUAL FIGURES FOR 2013 SHOW A FAIR FINANCIAL SITUATION. THE
INDEBTEDNESS WAS HIGH DUE TO FINANCIAL EXPENSES. ON THE OTHER HAND THE
COMPANY HAD HIGH LIQUIDITY RATIOS AND EXCELLENT WORKING CAPITAL, CONSIDERED
SUFFICIENT TO COVER THE SHORT TERM DEBTS. IN ADDITION, IT SHOWED GROWING
SALES AND POSTED PROFIT. THE FIGURES FOR SEPTEMBER 2014 SHOW THAT THE INDEBTEDNESS KEEPS HIGH
BUT THE LIQUIDITY RATIOS WERE IMPROVED. IN ADDITION, IT IS NOTED GROWING
SALES TREND AND THE OPERATIONS ARE PROFITABLE. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$
2.223.705.000,00
|
VEHICLES: |
NOT AVAILABLE
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE
VALUED AT R$ 2.572.218.000,00
INSURANCE |
|
AS AT JUNE 30, 2014, THE COMPANY HAS INSURANCE AGAINST FIRE,
LIGHTNING, EXPLOSION, ELECTRICAL DAMAGE AND WINDSTORM FOR ITS INDUSTRIAL AND ADMINISTRATIVE
FACILITIES AND INVENTORIES. THE COMPANY ALSO HAS GENERAL CIVIL LIABILITY AND
DIRECTORS AND OFFICERS, AUTO, AND MULTI-RISK INSURANCE FOR ITS CHATTELS,
AMOUNTING TO R$ R$ 2.897.797.000,00. |
BANKING REFERENCES |
|
|
BRANCH/PHONE: |
CITY: |
|
HSBC BANK BRASIL S/A |
11 3847-5387 |
SÃO PAULO/SP |
|
BANCO ITAÚ BBA S/A |
11 3708-8554 |
SÃO PAULO/SP |
|
BANCO DO BRASIL S/A |
11 3491-3941 |
SÃO PAULO/SP |
|
BANCO ITAUBANK S/A |
11 3398-5761 |
SÃO PAULO/SP |
|
BANCO BRADESCO S/A |
11 2178-4665 |
SÃO PAULO/SP |
|
REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). DATE RESEARCHED JANUARY 05, 2015. |
ACTIVITIES COMMENTS |
|
SUBJECT IS ENGAGED IN THE MANUFACTURE OF PAPER AND PAPER PRODUCTS. MARKET PULP: -BLEACHED EUCALYPTUS PULP -UNBLEACHED EUCALYPTUS PULP -DISSOLVING PULP (VISCOSE, LYOCELL, FILAMENT ACETATE, ESTER ETHER) -FLUFF PULP (HYGIENIC PRODUCTS) PAPERS: -NEWSPRINT -DIRECTORY -PACKAGING PAPERS FOR CORRUGATED BOXES (KRAFTLINER, MIDIUM, TESTLINER) -KLABIN BOARDS (KLABIN LIQUID BOARD, KLABIN RIGID BOARD, KLABIN X
RIGID BOARD, KLABIN CARRIER BOARD, KLABIN FREEZE BOARD) -KRAFT PAPERS FOR SACKS AND ENVELOPE -SANITARY PAPERS -PRINTING / WRITING PAPER PRODUCTS: -TISSUE PAPER PRODUCTS (TOILET PAPER, NAPKINS, FACIAL TISSUE AND PAPER
TOWELS) -CORRUGATED BOXES -MULTIWALL PAPER SACKS -ENVELOPES TIMBER AND SEEDS: - LOGS / TIMBER OF EUCALYPTUS GRANDIS AND SALIGNA - SEEDS OF EUCALYPTUS GRANDIS, SALIGNA, DUNNI AND TERETICORNIS |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
EUROPE AND USA. |
EXPORTS TO:
|
ARGENTINA, AUSTRIA, CHILE, ENGLAND AND USA. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
CARTOCOR |
|
|
|
CIA DE CIGARROS SOUZA CRUZ |
|
|
|
GIUSTI |
|
|
|
INDÚSTRIAS GESSY LEVER LTDA |
|
|
|
INT.PAPER |
|
|
|
JOHNSON & JOHNSON INDÚSTRIA E COMÉRCIO LTDA |
|
|
|
PARANAENSE |
|
|
|
PERDIGÃO AGRO-INDUSTRIAL S/A |
|
|
|
REFINAÇÃO DE MILHO BRASIL LDA |
|
|
|
SADIA CONCÓRIA S/A INDÚSRIA E COMÉRCIO |
|
|
|
SPAL IND BRASILEIRA DE BEBIDAS S/A |
|
|
|
TETRA PAK LTDA |
|
|
|
VOLKSWAGEN DO BRASIL LTDA |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 9000 EMPLOYEE(S) |
|
CONCEPT AND
FULFILMENT: |
|
THE SUBJECT IS LARGE-SIZED AND WELL-ESTABLISHED COMPANY, OPERATING SINCE
1978. IT IS ONE OF THE MOST IMPORTANT COMPANIES IN ITS LINE OF BUSINESS AND
SO OPERATES WITH A CLEAR TRADE HISTORY, GOOD PAYMENT BEHAVIOR AND AN
EXCELLENT REPUTATION. THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE RELATED
TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS
WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY'S TRADE
REPUTATION. OUR INVESTIGATION THROUGH THE PUBLIC SHOWED SOME DETRIMENTAL FILES
REGISTERED AGAINST THE SUBJECT BUT DUE TO THE SUBJECT'S HIGH FINANCIAL
STRENGTH AND HIGH SCALE OF OPERATIONS THE DETRIMENTAL FILES DO NOT AFFECT ITS
TRADE REPUTATION. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
PHONE: |
|
ASEA BROWN BOVERI LTDA |
|
11 7088-8194 |
|
BELOIT INDUSTRIAL LTDA |
|
19 740-7491 |
|
CIA DE PESQUISA E LAVRAS MINEIRAS |
|
51 652-1211 |
|
DOW QUÍMICA S/A |
|
11 5188-9828 |
|
FERRAMNETAS GERAIS S/A |
|
51 342-0700 |
|
IRUSA ROLAMENTOS LTDA |
|
51 222-9500 |
|
KVAERNER PULPING LTDA |
|
41 348-1155 |
|
PERÓXIDOS DO BRASIL LTDA. |
|
|
|
PETROBRÁS DISTRIBUIDORA S/A |
|
11 3116-5190 |
|
PETROBRAS PETROLEO BRASILEIRO S/A |
|
51 228-9922 |
|
SHELL BRASIL S/A |
|
19 874-7496 |
|
SULFATO RIOGRANDENSE LTDA |
|
51 480-3555 |
|
VOITH S/A MÁQUINAS E EQUIPAMENTOS |
|
11 840-4747 |
|
PAYMENT HISTORY: |
|
59 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 12.823.675,00 |
|
|
|
AMOUNT OF INVOICES PAID: 1402 |
|
TOTAL OF PROMPT PAYMENTS: 96,5% |
|
TOTAL OF DELAYED PAYMENTS: 3,5% |
|
|
|
HIGHEST INVOICE: R$ 332.665,00 |
|
HIGHEST CREDIT: R$ 332.665,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
4 |
6 |
R$ 19.976,76 |
FINAL OPINION |
|
THE SUBJECT IS A LARGE-SIZED AND WELL-ESTABLISHED COMPANY IN BUSINESS
FOR SEVERAL YEARS. UP TO DATE IT HAS A FAIR FINANCIAL STANDING, A CLEAR TRADE
HISTORY AND GOOD PAYMENT BEHAVIOR. BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.39 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.