|
Report No. : |
321734 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
PLIVA HRVATSKA D.O.O. |
|
|
|
|
Registered Office : |
Prilaz baruna Filipovića 25 HR 10000 Zagreb |
|
|
|
|
Country : |
Croatia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
1897 (2013) |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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) |
|
Croatia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CROATIA ECONOMIC
OVERVIEW
Though still one of the wealthiest of the former Yugoslav republics, Croatia's economy suffered badly during the 1991-95 war. The country's output during that time collapsed and Croatia missed the early waves of investment in Central and Eastern Europe that followed the fall of the Berlin Wall. Between 2000 and 2007, however, Croatia's economic fortunes began to improve with moderate but steady GDP growth between 4% and 6% led by a rebound in tourism and credit-driven consumer spending. Inflation over the same period remained tame and the currency, the kuna, stable. Croatia experienced an abrupt slowdown in the economy in 2008 and has yet to recover; economic growth was stagnant or negative in each year since 2009. Difficult problems still remain, including a stubbornly high unemployment rate, uneven regional development, and a challenging investment climate. Croatia continues to face reduced foreign investment. On 1 July 2013 Croatia joined the EU, following a decade-long application process. Croatia will be a member of the European exchange rate Mechanism until it meets the criteria for joining the Economic and Monetary Union and adopts the euro as its currency. EU accession has increased pressure on the government to reduce Croatia’s relatively high public debt, which triggered the EU’s excessive deficit procedure for fiscal consolidation. Zagreb has cut spending since 2012, and the government also raised additional revenues through more stringent tax collection and by raising the Value Added Tax. The government has also sought to accelerate privatization of non-strategic assets, with mixed success.
|
Source
: CIA |
|
PLIVA HRVATSKA d.o.o. za razvoj, proizvodnju i prodaju lijekova i farmaceutskih proizvoda |
Phone |
+385
1/3720000 |
|
Prilaz baruna Filipovica 25 |
Fax |
+385
1/3720111 |
|
HR 10000 Zagreb |
E-Mail |
|
|
|
Web |
Legal form Limited
Liability Company
Established
2003
Registered
2003-09-16, Commercial
court Zagreb, MBS: 080469030
last court entry: 2015.02.18
According to the decission from 2005.05.25
one part of the company assets is separated and taken over by the company
GLOBALNI SERVISI - IT d.o.o.
(MBS: 080506104)
According to the court register entry from
2007.06.28 , the company PLIVA ISTRAŽIVANJE IRAZVOJ d.o.o. (MBS: 080492227)
with a legal site in Zagreb, Prilaz baruna Filipovića 29 was affiliated by
transfering its assets to the company PLIVA HRVATSKA d.o.o.
According to the court register entry from
2007.12.20 , the company GLOBALNI POSLOVNI SERVISI-IT d.o.o. (MBS:080506104)
with a legal site in Zagreb was affiliated by transfering its assets to the
company PLIVA HRVATSKA d.o.o.
According to the court register entry from
2008.11.30, the company PHARMAING d.o.o. (MBS: 080477512) with a legal site in
Zagreb, Jagićeva 31, the company PUNCTUM STUDIO d.o.o. (MBS: 080477711)
with a legal site in Zagreb, Gregorčićeva 8 and the company
PLIVA-ESOP d.o.o. (MBS: 080171686) with a legal site in Zagreb, Grada Vukovara
49 were affiliated by transfering its assets to the company PLIVA HRVATSKA
d.o.o.
According to the court register entry from
2010.12.31, the company PLIVA Farmaceutika d.d. (MBS: 080022035) with a legal
site in Zagreb, Prilaz baruna Filipovića 25 was affiliated by transfering
its assets to the company PLIVA HRVATSKA d.o.o.
According to the court register entry from
2011.05.22, the company TEVA PHARMACEUTICALS d.o.o. (MBS: 080680817, OIB:
60628553658) with a legal site in Zagreb, Prilaz baruna Filipovića 25 was
affiliated by transfering its assets to the company PLIVA HRVATSKA d.o.o.
According to the court register entry from
2013.08.02, the company PLIVA ZDRAVLJE d.o.o. (MBS: 080345413, OIB 68719779759)
with a legal site in Zagreb, Prilaz baruna Filipovića 25 was affiliated by
transfering its assets to the company PLIVA HRVATSKA d.o.o. Statistic number:
1758705
OIB: 44205501677
Establishers
Ivax
International B.V.
Computerweg 10, Utrecht, Netherlands 100,00%
Basic
capital HRK
3.142.360.000,00
Capital changes:
Until 2003.12.22: HRK 20.000,00
Until 2005.05.25: HRK 3.030.000.000,00
Until 2005.11.02: HRK 3.013.000.000,00
Until 2008.11.30: HRK 3.138.000.000,00
Management
Tihomir
Orešković, president
Ivana Oršanića 14, 10000 Zagreb, Croatia
Zoran Bunčić, member, born
1962.06.22
Kuzminečka 6, 10000 Zagreb, Croatia
Nikolina Dizdar Čehulić, member
Ulica Vojina Bakića 1, 10000 Zagreb,
Croatia
Romana Šantar, member
Drežnik IV. Odvojak 8 A, 10251 Desprim, Croatia
Supervisory
board Hubert Puech
Pays d Alissac, president
France
Eric Drape, vice-president
France
Maciej Mikucki, member
Poland
Activity
Manufacture
of pharmaceutical preparations
Manufacture of other inorganic basic
chemicals
Manufacture of other chemical products n.e.c.
Technical testing and analysis
Other research and experimental development
on natural sciences and engineering
Manufacture and distribution of
pharmaceuticals
Research and development of new
pharmaceuticals
After taking over production and distribution
from PLIVA d.d., PLIVA HRVATSKA became the
largest pharmaceutical company and biggest
exporter in Croatia
Exports all over the world: Belarus, Czech Republic, Germany,
Switzerland, France, Great
Britan, Italy, Hungary, Macedonia, Bosnia and Hercegovina, Slovenia, USA etc.
Brands: Andol, Andol 100, Atrocam, Betrion, Cilazil, Diklonat, Gastal, Geokorton, Geonistin, Heptanon, Homofan, Homolong, Homorap, Izosan, Ketocef, Klavocin, Mirocef, Novocef, Oikamid, Peptoran, Phemiton, Plibex, Plivadial, Plivadon, Plivasept, Plivit C, Sinersul, Sumamed, Supremin, Zinidil, Tonocardin, Ulzol, Aviomarin, Diaspam, Enerbol, Flegamina, Hepatil, Lecitan, Sedamin, Venotrex, Mukolina etc.
legal site and business premises (production
facilities) are located at the above address
facilities in Savski Marof, Prudnička
cesta 54
business units:
- Dubrovačka 6, 51000 Rijeka
- Dražanac 72, 21000 Split
- Sjenjak 58, 31000 Osijek
former company address was till 2009-11-16 at
Ulica grada Vukovara 49, 10000 Zagreb
the company owns vehicles, number and type
not known
Book value of vehicles 2013.12.31: HRK
1.848.198,00
Basic activity code (according to NACE
Rev.2):
Manufacture of pharmaceutical preparations
(21.20)
Staff 2009 2395 employees
2010 1914 employees
2011 1745 employees
2012 1783 employees
2013 1897 employees
Total
revenue 2009
HRK 2.882.538.000
2010 HRK 2.795.442.600
2011 HRK 2.760.460.300
2012 HRK 3.316.678.770
2013 HRK 3.097.640.280
Real
estate the
company owns real estates
Book value of ground 2013.12.31: HRK
248.339.113,00
Book value of buildings 2013.12.31: HRK
894.331.722,00
information about eventual mortgage existance
not available
insight into real estate register not possible
ASSETS
|
Currency: HRK ( x
1.000 ) |
2013.12.31 |
2012.12.31 |
2011.12.31 |
|
FIXED ASSETS |
4.790.624 |
4.323.932 |
3.680.490 |
|
Intangible
assets |
39.958 |
39.459 |
39.190 |
|
Tangible assets |
2.400.305 |
2.035.347 |
1.505.386 |
|
- land and woods |
248.339 |
248.339 |
248.339 |
|
- buildings |
894.332 |
851.659 |
876.974 |
|
- plants and machinery |
492.897 |
329.595 |
239.632 |
|
- tools, equipment, vehicles |
9.209 |
9.530 |
10.847 |
|
- advance payments for tang. assets |
84.969 |
136.921 |
20.217 |
|
- tangible assets in preparement |
669.963 |
458.713 |
108.791 |
|
- other tangible assets |
596 |
589 |
588 |
|
Long
term financ. assets |
1.702.863 |
1.701.197 |
1.703.527 |
|
- shares in associated companies |
215.551 |
215.576 |
219.233 |
|
- other participations |
56.198 |
51.611 |
51.228 |
|
-
credits, deposits, guarantees |
7.786 |
9.124 |
8.405 |
|
Long term
receivables |
647.498 |
547.930 |
432.387 |
|
CURRENT ASSETS |
3.094.640 |
3.540.097 |
4.465.828 |
|
Inventories |
917.422 |
973.326 |
877.312 |
|
-
raw and auxiliary materials |
336.906 |
495.640 |
397.729 |
|
-
goods in course of production |
201.380 |
153.240 |
159.954 |
|
-
trade goods |
124.452 |
96.897 |
104.582 |
|
-
finished products |
251.719 |
225.769 |
213.784 |
|
-
advance payments |
2.965 |
1.781 |
1.262 |
|
Short
term receivables |
1.298.925 |
1.579.725 |
1.554.671 |
|
-
from associated companies |
493.766 |
566.820 |
877.628 |
|
-
from sales |
733.160 |
773.954 |
515.729 |
|
-
from staff |
1.152 |
7.089 |
5.378 |
|
-
from state and institutions |
69.327 |
221.140 |
144.991 |
|
-
others |
1.520 |
10.721 |
10.945 |
|
Short term
financial assets |
829.450 |
688.160 |
1.878.647 |
|
Cash at bank and in hand |
48.843 |
298.886 |
155.198 |
|
ACCRUALS |
6.870 |
7.243 |
3.439 |
|
TOTAL ASSETS |
7.892.133 |
7.871.273 |
8.149.757 |
LIABILITIES
|
Currency:
HRK ( x 1.000 ) |
2013.12.31 |
2012.12.31 |
2011.12.31 |
|
EQUITY |
4.186.784 |
3.744.608 |
3.059.627 |
|
Subscribed capital |
3.142.360 |
3.142.360 |
3.142.360 |
|
Reserves |
1.742.737 |
1.736.422 |
1.728.124 |
|
Loss brought forward |
1.134.160 |
1.810.858 |
2.228.524 |
|
Profit of the period |
435.846 |
676.684 |
417.666 |
|
PROVISIONS |
9.123 |
7.938 |
7.179 |
|
LONG TERM LIABILITIES |
2.821.173 |
2.787.228 |
2.759.597 |
|
SHORT TERM LIABILITIES |
625.792 |
1.108.028 |
2.128.606 |
|
To associated companies |
373.927 |
660.336 |
1.787.005 |
|
Deposits, advances
payments |
59 |
284 |
1.532 |
|
To suppliers |
219.432 |
362.228 |
300.821 |
|
To staff |
16.408 |
15.326 |
13.994 |
|
Taxes, fees, etc. |
14.419 |
66.926 |
22.338 |
|
Other tax liabilities |
0 |
1.285 |
1.285 |
|
Other short term
liabilities |
1.547 |
1.643 |
1.632 |
|
DEFFERED ITEMS |
249.262 |
223.471 |
194.749 |
|
TOTAL EQUITY AND LIABILITIES |
7.892.133 |
7.871.273 |
8.149.757 |
PROFIT / LOSS ACCOUNT
|
Currency: HRK ( x 1.000 ) |
2013.12.31 |
2012.12.31 |
2011.12.31 |
|
OPERATING REVENUES |
3.075.871 |
3.130.528 |
2.611.008 |
|
Sales in the country |
514.226 |
504.169 |
533.246 |
|
Sales abroad |
2.193.811 |
2.369.369 |
1.877.567 |
|
Other revenues |
367.833 |
256.989 |
200.195 |
|
OPERATING EXPENSES |
2.589.408 |
2.518.162 |
2.128.467 |
|
Decrease in inventories |
66.325 |
191.390 |
90.078 |
|
Material costs |
1.574.248 |
1.504.156 |
1.129.042 |
|
- raw material costs |
805.039 |
682.720 |
622.566 |
|
- sold goods costs |
252.252 |
254.238 |
168.524 |
|
- other external costs |
516.957 |
567.198 |
337.952 |
|
Staff costs |
381.965 |
359.441 |
388.053 |
|
Depreciation of fixed
assets |
108.265 |
113.224 |
119.649 |
|
Depreciation of current assets |
54.952 |
0 |
630 |
|
Reserves for expenses and risques |
403 |
933 |
0 |
|
Other operating
expenses |
403.250 |
349.019 |
401.015 |
|
FINANCIAL REVENUES |
21.770 |
186.151 |
149.452 |
|
FINANCIAL EXPENSES |
171.954 |
237.376 |
509.608 |
|
EXTRAORDINARY REVENUES |
0 |
0 |
0 |
|
EXTRAORDINARY EXPENSES |
0 |
0 |
0 |
|
TOTAL REVENUES |
3.097.640 |
3.316.679 |
2.760.460 |
|
TOTAL EXPENSES |
2.761.362 |
2.755.538 |
2.638.075 |
|
Profit before
taxation |
336.278 |
561.141 |
122.385 |
|
Loss before
taxation |
0 |
0 |
0 |
|
Taxation on
profit |
-99.568 |
-115.543 |
-295.280 |
|
PROFIT OF THE PERIOD |
435.846 |
676.684 |
417.666 |
|
LOSS OF THE PERIOD |
0 |
0 |
0 |
FINANCIAL RATIOS
|
|
2013.12.31 |
2012.12.31 |
2011.12.31 |
|
Financial stability ratio |
1,2293 |
1,2346 |
1,2783 |
|
Solvency ratio (%) |
53,0501 |
47,5731 |
37,5426 |
|
Debt ratio (in years) |
6,3350 |
4,9313 |
9,0975 |
|
Liquidity ratio |
3,4791 |
2,3165 |
1,6859 |
|
Current ratio |
4,9452 |
3,1950 |
2,0980 |
|
Total assets turnover |
0,3925 |
0,4214 |
0,3387 |
|
Inventories turnover |
3,3765 |
3,4076 |
3,1465 |
|
Collection period (in days) |
172,6760 |
197,9096 |
232,1547 |
|
Creditors Days |
29,1708 |
45,3803 |
44,9208 |
|
Inventories bonding (in days) |
106,6205 |
105,6471 |
114,4130 |
|
Profit margin (%) |
14,0703 |
20,4024 |
15,1303 |
|
Return on total assets (%) |
5,5225 |
8,5969 |
5,1249 |
|
Return on equity (%) |
10,4100 |
18,0709 |
13,6509 |
|
Total revenue per employee (x 1.000) |
1.632,9153 |
1.860,1676 |
1.581,9257 |
|
Profit per employee (x 1.000) |
229,7554 |
379,5197 |
239,3501 |
|
Equity per employee (x 1.000) |
2.207,0552 |
2.100,1726 |
1.753,3676 |
|
Total assets per employee (x 1.000) |
4.160,3234 |
4.414,6232 |
4.670,3477 |
|
Staff costs/Turnover (%) |
12,3309 |
10,8374 |
14,0576 |
|
EBIT (x 1.000) |
486.462,4500 |
612.365,4300 |
482.541,3900 |
|
EBITDA (x 1.000) |
649.679,2500 |
725.589,1600 |
602.820,1000 |
|
EBIT Margin (%) |
15,8154 |
19,5611 |
18,4810 |
|
EBITDA Margin (%) |
21,1218 |
23,1779 |
23,0876 |
Remarks
2009 import HRK
945.343.836,00
2010 import HRK 917.405.396,00
2011 import HRK 1.349.410.399,00
2012 import HRK 1.705.214.215,00
2013 import HRK 1.558.424.783,00
2009 export HRK 2.021.901.704,00
2010 export HRK 1.911.703.953,00
2011 export HRK 1.877.567.011,00
2012 export HRK 2.369.369.127,00
2013 export HRK 2.193.811.319,00
2009 loss HRK 183.888.000
2010 profit HRK 669.646.330
2011 profit HRK 122.385.480
2012 profit HRK 561.140.780
2013 profit HRK 336.277.790
Subsidiaries:
MEDIKA, d.d.
25,32%
(Statistic number: 3209741) Capraska 1, 10000
Zagreb, Croatia
PLIVA d.o.o. Sarajevo 100,00%
(Statistic
number: 4201418590009)
ul. Trg
Heroja broj 10, 71120 Sarajevo-Novo Sarajevo,
Bosnia
& Hercegovina
ASPERA NEKRETNINE d.o.o. 100,00%
(Statistic number: 2764741)
PRILAZ
BARUNA FILIPOVICA 25, 10000 ZAGREB, Croatia
TEVA Serbia d.o.o. 100,00%
Republic Serbia
PLIVA SKOPJE d.o.o.e.l. 100,00%
Macedonia
PLIVA London Ltd. 100,00%
United Kingdom
TEVA Services Holding Ltd. 4,32%
Hungary
Short company name: PLIVA HRVATSKA d.o.o.
Translation: PLIVA CROATIA Ltd.
Investments in:
- 2008: HRK
192.743.450,00
- 2009: HRK
75.862.293,00
- 2010: HRK
97.523.364,00
- 2011: HRK
175.026.354,00
- 2012: HRK
536.829.075,00
- 2013: HRK 533.321.427,00
There is
no record of payment complaints. Creditreform debt collection department has
not handled any case against the company. According to the official information
from the Register of transaction accounts, the company accounts are active and
are not blocked (date of last check: 2015.05.08).
Exchange rate:
2010-12-31 EUR 1 = HRK 7,3852
2011-12-31 EUR 1 = HRK 7,5304
2012-12-31 EUR 1 = HRK 7,5456
12-31
EUR 1 = HRK 7,6376
2014-12-31 EUR 1 = HRK 7,6615
Inflation:
2010: 1,1%
2011: 2,3%
2012: 3,4%
2013: 2,2%
2014: -0,6%
Bankers
ERSTE&STEIERMÄRKISCHE
BANK d.d.
Jadranski trg 3a, 51000
Rijeka, Croatia
HR7924020061100430432
RAIFFEISENBANK AUSTRIA d.d.
Petrinjska 59, 10000 Zagreb, Croatia
HR6524840081101874074
ZAGREBACKA BANKA d.d.
Paromlinska 2, 10000 Zagreb, Croatia
HR8923600001101683058
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.