MIRA INFORM REPORT

 

 

Report No. :

331804

Report Date :

29.07.2015

 

IDENTIFICATION DETAILS

 

Name :

KIDE, SDAD. COOP.

 

 

Registered Office :

Poligono Gardotza S/N, Berriatua, Vizcaya, 48710

 

 

Country :

Spain

 

 

Date of Incorporation :

09.01.1975

 

 

Legal Form :

Cooperative

 

 

Line of Business :

Subject is manufacture of non-domestic cooling and ventilation equipment

 

 

No. of Employee :

101

 

 

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 :

Moderate

 

 

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

 

Spain experienced a prolonged recession in the wake of the global financial crisis. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. Economic growth resumed briefly in late 2013, albeit only modestly, as credit contraction in the private sector, fiscal austerity, and high unemployment continued to weigh on domestic consumption and investment. Exports, however, have been resilient throughout the economic downturn and helped to bring Spain's current account into surplus in 2013 for the first time since 1986. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, straining 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, moderating labor costs, and lower inflation have helped to improve foreign investor interest in the economy and to reduce government borrowing costs. The government's ongoing efforts to implement reforms - labor, pension, health, tax, and education - are aimed at supporting investor sentiment. The government also has shored up struggling banks exposed to Spain's depressed domestic construction and real estate sectors by successfully 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 1.3% in 2014, and labor reforms prompted a modest reduction in the unemployment rate, from more than 26% in 2013 to 24% 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 generates 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

 

KIDE, SDAD. COOP.

 

NIF / Fiscal code:

 

F48071377

 

Legal form:

 

Cooperative

 

Status:

 

Active

 

Location:

 

PLIND GARDOTZA 1 - BERRIATUA - VIZCAYA

 

Telephone:

 

946036200

 

Real estate of partners:

 

NO

 

Activity:

 

 

NACE:

 

2825 - Manufacture of non-domestic cooling and ventilation equipment

 

Size:

 

Large

 

Commercial scope:

 

International

 

Import / export:

 

Import: Yes, Export: Yes

 

 

Employees:

 

Number of Employees   101

 

 

Legal Claims:

 

No

 

Business trend:

 

Stable

 

Prospects:

 

Expand the current market share

 

Industry situation:

 

Maturity

 

 

Economic-financial data

 

.

 

Financial Year

 

Turnover

 

.

 

.

 

2012

 

30000000

 

.

 

.

 

2013

 

29500000

 

.

 

.

 

2014

 

29800000

 

.

 

 

Total investments:

 

19000000

 

Unit:

 

Euros

 

Guarantees:

 

 

Properties Registered:

 

YES

 

Type of professional premises:

 

Owned

 

INVESTIGATION SUMMARY

 

It is a company constituted several years ago, hence the great experience it has in its sector nad the great reputation it has among the sources consulted.

 

 

 

 

 

Enquiry Details

 

 

NIF / Fiscal code

 

F48071377

 

Name

 

KIDE, SDAD. COOP.

 

Address

 

POLIGONO GARDOTZA S/N

 

City

 

BERRIATUA

 

Province

 

VIZCAYA

 

Postcode

 

48710

 

Telephone

 

000000000

 

 

 

 

IDENTIFICATION

 

 

Company name / Name of the subject

 

KIDE, SDAD. COOP.

 

Legal form

 

Cooperative

 

NIF / Fiscal code

 

F48071377

 

Status

 

Active

 

Start of activity

 

09/01/1975

 

Name of the maximum responsible

 

KEPA IRURRARAN

 

Position of the maximum responsible

 

PRESIDENT

 

Professional address

 

PLIND GARDOTZA 1

 

City

 

BERRIATUA

 

Province

 

VIZCAYA

 

Postcode

 

48710

 

Type of premises

 

Owned

 

Telephone

 

946036200

 

Fax

 

946036221

 

Website

 

www.kide.com

 

Email

 

kide@kide.com

 

  

 

 

ACTIVITY

 

 

NACE

 

2825

 

Description of the NACE code

 

Manufacture of non-domestic cooling and ventilation equipment

 

Comment about the activity

 

Designing, manufacturing, commercialization, installation of commercial and industrial cold stores and accesories. It is integrated in Mondragón Corporación Cooperativa. No of partners 200 DEPARTMENTS Plind Gardotza 1 48710 Berriatua (Vizcaya), registered office, factory, storage, office, in property. Manager ZUBIZARRETA BERRIATUA JOSE MARIA Financial manager MADAREITA ODIAGA AITXIBER Director RRHH OLAZABAL PAGNON JON Commercial Director TORNAY JOSU Informatic Director AGUIRRE JOSEBA

 

Franchise

 

No

 

% International commercial scope

 

100%

 

Business size

 

Large

 

Import

 

Yes

 

Export

 

Yes

 

Industry situation

 

Maturity

 

Business trend

 

Stable

 

Prospects

 

Expand the current market share

 

 

Employees

 

 

Year

 

Number of Employees

 

Fixed employees %

 

Part time employees %

 

2015

 

101

 

 

 

 

 

  

 

LEGAL CLAIMS

 

 

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

 

 

 

 

Banks

 

 

Bank name

 

Branch

 

Address

 

Telephone

 

CAJA LABORAL POPULAR

 

 

SUC BERRIATUA (VIZCAYA)

 

 

 

 

Clients

 

 

It was not possible to determine the details of the clients with which the subject deals.

 

 

 

Suppliers

 

 

 

Suppliers' references

 

- ALSTOM - ANTARTIDA - ARAYA - ALCAMPO - CAMPOFRIO - CAPRABO - CARCHELEJO - CARREFOUR - DANONE - DOMINOS PIZZA - DECOEXSA - EL CORTE INGLES - E LECLERC - EROSKI - FRIGO - GRUPO FUERTES - MAKRO - EMBUTIDOS MELI - MOROTZ CARNICAS - CONSERVAS ORTIZ - TELEPIZZA

 

 

 

 

 

GUARANTEES

 

 

Properties Registered (without verification of the register)

 

Plind Gardotza 1 48710 Berriatua (Vizcaya),

 

 

 

 

FINANCIAL DATA

 

2014 (Estimation)

Data in: Thousand of euros

 

 

ASSETS

 

 

LIABILITIES

 

Tangible fixed assets

 

 

 

Capital

 

7000

 

Transport

 

 

 

Long term creditors

 

 

Machinery and fittings

 

 

 

Long term debts with Banks

 

 

Buildings and constructions

 

 

 

Short term creditors

 

 

Intangible fixed assets

 

 

 

Short term debts with credit entities

 

 

Stock

 

 

 

NOT CURRENT LIABILITIES

 

3000

 

Debtors

 

 

 

CURRENT LIABILITIES

 

9000

 

Cash

 

 

 

 

 

CURRENT ASSETS

 

9000

 

 

 

 

NOT CURRENT ASSETS

 

10000

 

 

 

 

TOTAL ASSETS

 

19000

 

 

TOTAL LIABILITIES

 

19000

 

WORKING CAPITAL

 

 

 

 

 

 

 

 

SALES EVOLUTION

 

 

Financial Year 2012

 

 

30000

 

 

 

Financial Year 2013

 

 

29500

 

 

 

Financial Year 2014

 

 

29800

 

 

 

 

Its trayectory is considered normal.

 

 

 

 

SOCIAL BODIES OF MERCANTILE COMPANIES

 

 

It was impossible to confirm the information about the Board of Administration from BORME (Mercantile Registry Gazette)

 

 

 

 

SHAREHOLDER

 

 

It has not been possibe to obtain information about the possible participation as a Shareholder in other other trading companies.

 

 

 

 

INVESTIGATION SUMMARY

 

 

It is a company constituted several years ago, hence the great experience it has in its sector nad the great reputation it has among the sources consulted.

 

 

 

 

CONSULTED SOURCES

 

 

Investigation, Board of Administration (according to registry), Public institution, Chamber of Commerce, Internal/external DB, Subject

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.03

UK Pound

1

Rs.99.72

Euro

1

Rs.70.88

 

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.