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Report No. : |
325851 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LPP SA |
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|
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Registered Office : |
ul. Łąkowa 39/44 80-769 Gdańsk |
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Country : |
Poland |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
07.12.1989 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Design, manufacture, wholesale and retail sale of clothes and shoes (brands
(Reserved, Cropp, Sinsay, House, Mohito) |
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No. of Employee : |
1000 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Poland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
POLAND - ECONOMIC OVERVIEW
Poland has pursued a policy of economic liberalization since
1990 and Poland's economy was the only one in the EU to avoid a recession
through the 2008-09 economic downturn. Although EU membership and access to EU
structural funds have provided a major boost to the economy since 2004, GDP per
capita remains significantly below the EU average while unemployment continues
to exceed the EU average. The government of Prime Minister Donald TUSK steered
the Polish economy through the economic downturn by skillfully managing public
finances and adopting controversial pension and tax reforms to further shore up
public finances. While the Polish economy has performed well over the past five
years, growth slowed in 2013 and 2014, in part due to the ongoing economic difficulties
in the euro zone. Short-term, the key policy challenge will be to consolidate
debt and spending without stifling economic growth. Over the longer term,
Poland's economic performance could improve if the country addresses some of
the remaining deficiencies in its road and rail infrastructure, business
environment, rigid labor code, commercial court system, government red tape,
and burdensome tax system.
|
Source
: CIA |
LPP SA
ul. Łąkowa 39/44 80-769 Gdańsk
Phone: 58
7696900
58 7696905
Fax:
58 7696909
E-mail:
lpp@lpp.com.pl
Website: lpp.com.pl
|
Legal
form |
Joint Stock Company |
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Stat.no. |
190852164 |
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Tax
ID |
PL 5831014898 |
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Establishment |
07.12.1989 |
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Registration: |
14.02.2001,
District Court Gdańsk, VII Department, KRS 778 |
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Shareholders |
Monistor Limited, Cyprus |
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Percent of owned shares |
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11.00% |
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share in total amount of votes |
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6.20% |
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Jerzy Ryszard Lubianiec , personal ID no. (PESEL) 60061501654, ul.
Smugowa 8A, 80-299 Gdańsk |
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Percent of owned shares |
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9.60% |
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share in total amount of votes |
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27.10% |
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Marek Leszek Piechocki , personal ID no. (PESEL) 61020502291, ul.
Okrężna 6A, 81-822 Sopot |
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Percent of owned shares |
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9.60% |
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share in total amount of votes |
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27.10% |
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shareholders' list as at 31.03.2015 |
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Share
capital |
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PLN
3 662 246,00 |
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Share capital divided into 1831123 shares
of PLN 2,00 each |
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Series of shares |
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Changes of share capital |
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- since 01.03.2012 until
27.08.2012 the capital estimated |
PLN
3 559 328,00 |
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- since 06.09.2011 until
01.03.2012 the capital estimated |
PLN
3 555 468,00 |
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- since 25.03.2011 until
06.09.2011 the capital estimated |
PLN
3 523 130,00 |
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- since 14.08.2009 until
25.03.2011 the capital estimated |
PLN
3 500 554,00 |
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- since 15.01.2009 until
14.08.2009 the capital estimated |
PLN
3 492 134,00 |
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- since 29.05.2008 until
15.01.2009 the capital estimated |
PLN
3 412 134,00 |
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- since 13.05.2003 until
29.05.2008 the capital estimated |
PLN
3 407 000,00 |
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- since 14.02.2001 until
13.05.2003 the capital estimated |
PLN
3 027 000,00 |
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An in-kind contribution has been made and
valued at |
PLN
113 400,00 |
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Management |
Marek Leszek
Piechocki , personal ID no. (PESEL) 61020502291, ul. Okrężna 6A,
81-822 Sopot |
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Representation: |
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Supervisory
board |
Jerzy Ryszard
Lubianiec , personal ID no. (PESEL) 60061501654, ul. Smugowa 8A, 80-299
Gdańsk |
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Main
activity |
Design, manufacture, wholesale and retail
sale of clothes and shoes (brands (RESERVED, CROPP, SINSAY, HOUSE, MOHITO) |
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Export 2011 (17.55%) Iceland, Czech
Republic, Hungary, Russian Federation, Belarus, Estonia, Croatia, Slovakia,
Lithuania, Latvia, Slovenia, Ukraine |
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Branches NACE 2007: |
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Wholesale of clothing and footwear |
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Other retail |
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Real estate renting |
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Holdings activity |
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Other renting |
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Employment |
2009:
900 employees |
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Turnover |
2011 |
PLN |
2 170 410 000,00 |
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2012 |
PLN |
2 765 275 000,00 |
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2013 |
PLN |
3 493 356 000,00 |
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2014 |
PLN |
4 000 397 000,00 |
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|
01.01.2015 - 31.03.2015 |
PLN |
899 474 000,00 |
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consolidated turnover |
2011 |
PLN |
2 492 510 000,00 |
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2012 |
PLN |
3 223 755 000,00 |
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2013 |
PLN |
4 116 302 000,00 |
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2014 |
PLN |
4 769 288 000,00 |
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01.01.2015 - 30.04.2015 |
PLN |
1 386 000 000,00 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.97.84 |
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Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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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 |
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-- |
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%)