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Report No. : |
344847 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
HIPERMERCADOS TOTTUS SA |
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|
|
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Registered Office : |
Nataniel Cox 620, Santiago Santiago Región
Metropolitana-6 |
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|
|
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Country : |
Chile |
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Date of Incorporation : |
20.03.1995 |
|
|
|
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Legal Form : |
Joint
stock company |
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|
|
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Line of Business : |
Subject operates hypermarkets and supermarkets. |
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No. of Employee : |
9 500 |
RATING & COMMENTS
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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 |
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|
|
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Chile |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
CHILE ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports of goods and services account for approximately one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides 19% of government revenue. From 2003 through 2013, real growth averaged almost 5% per year, despite the slight contraction in 2009 that resulted from the global financial crisis. Growth slowed to 4.2% in 2014. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has joined the United States and 10 other countries in negotiating the Trans-Pacific Partnership trade agreement. The Chilean Government has generally followed a countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and generally allowing deficit spending only during periods of low copper prices and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $20.9 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. In 2014, President Michelle BACHELET introduced tax reforms aimed at delivering her campaign promise to fight inequality and to provide access to education and health care. The reforms are expected to generate additional tax revenues equal to 3% of Chile’s GDP, mostly by increasing corporate tax rates to OECD averages.
|
Source
: CIA |
STATUTORY INFORMATION
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|
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Legal Name: |
HIPERMERCADOS TOTTUS SA |
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Trade Name: |
TOTTUS CHILE |
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RUT: |
78.627.210-6 |
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Date Created: |
1995 |
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Date Incorporated: |
20/03/1995 |
|
Legal Address: |
Nataniel Cox 620, Santiago |
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Operative Address: |
Nataniel Cox 620, Santiago |
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Telephone: |
(56-2) 2387 8500 (56-2) 2387 8506 |
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Fax: |
(56-2) 2387 8505 |
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Legal Form: |
Joint
stock company |
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Email: |
|
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Registered in: |
Chile |
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Website: |
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Contact: |
Cristobal Irarrazaval Philippi, General Manager |
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Staff: |
9 500 |
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Activity: |
Grocery Stores & Supermarkets Industry |
BANKS
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|
|
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The company does not disclose its banking details |
History
|
|
|
It was founded in Peru in 2002. The idea started as a way to break into
the market of supermarkets in Chile, when in 2004, Falabella bought the
supermarket chain San Francisco in 62.5 million dollars, the growth
forecastIt was to capture 10 percent market share in the medium term, from a
base of around 3%. The first hypermarket in Chile Tottus opened in Puente
Alto, Chile in December 2005, following the supermarket model that the Solari
family and Del Rio held in Peru since 2002, after opening the first
hypermarket Tottus in Mega Plaza in Independence, Peru in the same year. |
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PRINCIPAL ACTIVITY
|
|
|
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Hipermercados Tottus S.A. operates hypermarkets and supermarkets. |
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Products/Services description: |
The company offers drinks and juices, wines and spirits, cocktail and snacks,
dairy and cheese products, biscuits and treats, baby products, ice creams,
grooming and cleaning products, and fruits and vegetables; and personal care,
deli, frozen, carnage, bakery, confectionery, pet, home, and book store
products. |
|
Brands: |
Tottus, Precio uno, Casa Joven, La Panadería, Cherokee, All Basics,
Recco. |
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Sales are: |
Retail |
|
Clients: |
General clients |
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Suppliers: |
NA |
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Operations area: |
National |
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The company imports from |
Denmark |
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The company exports to |
No exports |
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The subject employs |
9,500 employees |
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Payments: |
Regular |
LOCATION
|
|
|
Headquarters : |
Nataniel Cox 620, Santiago |
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Branches: |
The company has 37 shops in Chile. |
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company is part of: |
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Management: |
Pedro Manuel Colombo Maciel, Legal Representative |
FINANCIAL INFORMATION
|
|
|
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This is a private company which does not make its financials public. |
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|
|
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USD 2014 |
|
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Revenue |
US$ 768 000 000 |
|
|
|
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Imports en US$ |
|
|
Year |
Total |
|
2013 |
US$ 38,415,723 |
|
2012 |
US$ 29,117,181 |
|
2011 |
US$ 36,780,851 |
|
2010 |
US$ 13,116,098 |
|
2008 |
US$ 18,619 |
|
2007 |
US$ 682,582 |
|
|
|
|
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For the following years the company has an aggressive investment plan
of US $ 600 million for the period 2012 to 2015. whose focus is to achieve 10%
market share in Chile and 20% in Peru. To this end, in 2012 it open ed eight
stores in Chile, 3 spread between Santiago and the regions of Biobío and
Valparaiso. |
LEGAL FILINGS
|
|
|
|
There are no legal connected to the subject |
SUMMARY
|
|
|
|
Tottus is the supermarket chain Falabella Chilean capital group, with
operations in Chile and Peru with 50 local 34 local. The company is part of S.A.C.I. Falabella, which is considered one of
the largest companies in Chile. For the following years the company has an aggressive investment plan
of US $ 600 million for the period to 2015. |
RISK INFORMATION
|
|
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
|
|
|
|
INTERVIEW |
|
|
NAME |
Sofía |
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POSITION |
Administrative |
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COMMENTS |
She confirmed address, ownership, manager, staff and brands. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
|
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.