|
|
|
MIRA INFORM REPORT
|
Report No. : |
504730 |
|
Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
VERSHOLD POLAND SP. Z O.O. |
|
|
|
|
Registered Office : |
Ul. Łopuszańska 32 02-220 Warszawa |
|
|
|
|
Country : |
Poland |
|
|
|
|
Financials (as on) : |
31.12.2017 |
|
|
|
|
Date of Incorporation : |
13.11.2009 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
22 (2010) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Poland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
POLAND - ECONOMIC OVERVIEW
Poland has the sixth-largest economy in the EU and has long had a reputation as a business-friendly country with largely sound macroeconomic policies. Since 1990, Poland has pursued a policy of economic liberalization. During the 2008-09 economic slowdown Poland was the only EU country to avoid a recession, in part because of the government’s loose fiscal policy combined with a commitment to rein in spending in the medium-term Poland is the largest recipient of EU development funds and their cyclical allocation can significantly impact the rate of economic growth.
The Polish economy performed well during the 2014-17 period, with the real GDP growth rate generally exceeding 3%, in part because of increases in government social spending that have helped to accelerate consumer-driven growth. However, since 2015, Poland has implemented new business restrictions and taxes on foreign-dominated economic sectors, including banking and insurance, energy, and healthcare, that have dampened investor sentiment and has increased the government’s ownership of some firms. The government reduced the retirement age in 2016 and has had mixed success in introducing new taxes and boosting tax compliance to offset the increased costs of social spending programs and relieve upward pressure on the budget deficit. Some credit ratings agencies estimate that Poland during the next few years is at risk of exceeding the EU’s 3%-of-GDP limit on budget deficits, possibly impacting its access to future EU funds. Poland’s economy is projected to perform well in the next few years in part because of an anticipated cyclical increase in the use of its EU development funds and continued, robust household spending.
Poland faces several systemic challenges, which include addressing 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, especially for entrepreneurs. Additional long-term challenges include diversifying Poland’s energy mix, strengthening investments in innovation, research, and development, as well as stemming the outflow of educated young Poles to other EU member states, especially in light of a coming demographic contraction due to emigration, persistently low fertility rates, and the aging of the Solidarity-era baby boom generation.
|
Source
: CIA |
Company
name and address
|
Date:
24.04.2018 |
|
Report
on 9413343200 |
|
VERSHOLD
POLAND Sp. z o.o. |
|
|
|
ul. Łopuszańska 32 |
|
Phone:
22 3762791 |
|
Fax:
22 8463417 |
|
E-mail:
joanna.gosiewska@vershold.com |
|
piotr.olowka@vershold.com |
|
recepcja@vershold.com |
|
Website:
vershold.com |
|
|
Company
summery
|
Legal
form |
Limited
liability company |
(5) |
|
Stat.no. |
142114475 |
|
|
Tax ID |
PL
7010209892 |
|
|
|
|
|
|
Establishment |
13.11.2009
as Limited liability company |
(5) |
|
|
09.04.2013
as Limited joint-stock partnership |
(15) |
|
|
21.07.2016
as Limited liability company |
(5) |
|
Changes
of names and addresses |
VERSHOLD Sp. z o.o. |
|
|
|
29.01.2013 VERSHOLD POLAND Sp. z o.o. |
|
|
|
09.04.2013 VERSHOLD POLSKA Spółka Z Ograniczoną
Odpowiedzialnością Sp. K.A. |
|
|
|
21.07.2016 VERSHOLD POLAND Sp. z o.o. |
|
|
|
|
|
|
Registration: |
21.07.2016, District Court Warszawa, XIII Department, KRS 629221 |
|
|
|
|
Shareholders |
VERSHOLD
HOLDING POLAND sp. z o.o., ul. Żwirki i Wigury 16A, 02-092 Warszawa |
PLN |
990 000,00 |
|
|
|
|
|
|
|
other
shareholders |
PLN |
10 000,00 |
|
|
list
entered to NCR /KRS/ on 21.07.2016 |
|
|
|
|
|
|
|
|
Initial
Capital |
|
PLN
1 000 000,00 |
|
|
Initial
capital divided into 20000 shares of PLN 50,00 each |
|
|
|
|
|
|
|
|
|
Management |
Gonçalo Rôla Patta Rodrigues Veloso , personal ID no. (PESEL)
69041916194 |
|
|
Proxies: |
|
|
Representation: |
|
|
|
|
Main
activity |
Import
and distribution of non-food products in the Biedronka retail chain shops
(clothing, tools, small household items, kitchen accessories) |
|
|
|
Import among
others China |
|
|
|
|
|
|
|
Branches
NACE 2007: |
|
|
|
Other
wholesale |
(G.46.90.Z) |
|
|
Repair,
maintenance and installing of machines and equipment |
(C.33) |
|
|
Wholesale
trade a, except of motor vehicles |
(G.46) |
|
|
Land transport;
transport via pipelines |
(H.49) |
|
|
Production
of motion pictures, tv programmes and audio |
(J.59) |
|
|
Other
monetary intermediation |
(K.64.19.Z) |
|
|
|
|
|
Employment |
2010:
22 employees |
|
|
|
|
|
|
Turnover |
2012 |
PLN |
232 488 559,68 |
|
|
2013 |
PLN |
187 091 088,41 |
|
|
2014 |
PLN |
294 107 800,83 |
|
|
2016 |
PLN |
467 976 000,00 |
|
|
2017 |
PLN |
392 804 000,00 |
Financial
statements
Current financial data not available due to no insight into court files of the company.
|
|
|
|
|
|
|
Source
of financial data |
Subject |
Subject |
Court |
Court |
|
|
annual |
annual |
annual |
annual |
|
Personal
balance sheet as at |
31.12.2017 |
31.12.2016 |
31.12.2014 |
31.12.2013 |
|
-A.
Fixed assets...................... |
5 930 000,00 |
4 259 000,00 |
565 335,24 |
1 648 439,38 |
|
-
I. Intangible assets............. |
|
|
148 822,18 |
484 846,94 |
|
-
3. Other intangible assets....... |
|
|
148 822,18 |
484 846,94 |
|
-
II. Tangible assets............... |
|
|
373 327,30 |
506 023,30 |
|
-
1. Fixed goods................... |
|
|
373 327,30 |
506 023,30 |
|
-
c) machinery and equipment..... |
|
|
91 575,83 |
106 879,39 |
|
-
d) fleet of motor vehicles..... |
|
|
256 141,65 |
351 643,73 |
|
-
e) other fixed goods........... |
|
|
25 609,82 |
47 500,18 |
|
-V.
Long-term prepayments and |
|
|
43 185,76 |
657 569,14 |
|
-
1. Deferred tax assets............. |
|
|
43 185,76 |
657 569,14 |
|
-B.
Current assets.................... |
72 356 000,00 |
89 971 000,00 |
45 814 436,38 |
46 165 531,31 |
|
-
I. Stock......................... |
30 675 000,00 |
28 037 000,00 |
16 400 415,76 |
26 998 658,36 |
|
-
4. Goods for re-sale............. |
|
|
9 401 611,87 |
17 917 412,15 |
|
-
5. Advance payments ............. |
|
|
6 998 803,89 |
9 081 246,21 |
|
-
II. Short-term receivables......... |
28 391 000,00 |
45 326 000,00 |
16 796 347,37 |
3 501 575,50 |
|
-
1. Receivables from affiliated |
|
|
214 701,20 |
|
|
-
a) Due to deliveries and |
|
|
214 701,20 |
|
|
-
- up to 12 months............ |
|
|
214 701,20 |
|
|
-
2. Other receivables ............ |
|
|
16 581 646,17 |
3 501 575,50 |
|
-
a) Due to deliveries and |
|
|
13 609 446,11 |
3 352 020,29 |
|
-
- up to 12 months............ |
|
|
13 609 446,11 |
3 352 020,29 |
|
-
b) Due to taxes, subsidies, |
|
|
1 382 671,72 |
84 271,32 |
|
-
c) Other....................... |
|
|
1 589 528,34 |
65 283,89 |
|
-
III. Short term investments........ |
2 018 000,00 |
2 117 000,00 |
5 577 708,06 |
15 246 285,76 |
|
-
1. Short-term financial assets... |
2 018 000,00 |
2 117 000,00 |
5 577 708,06 |
15 246 285,76 |
|
-
b) Other....................... |
|
|
|
1 760 844,93 |
|
-
- granted loans.............. |
|
|
|
1 760 844,93 |
|
-
c) cash and other liquid |
2 018 000,00 |
2 117 000,00 |
5 577 708,06 |
13 485 440,83 |
|
-
- cash in hand and on bank |
|
|
5 577 708,06 |
13 485 440,83 |
|
-IV.
Short-term prepayments and |
|
|
7 039 965,19 |
419 011,69 |
|
-D.
Total assets...................... |
78 286 000,00 |
94 230 000,00 |
46 379 771,62 |
47 813 970,69 |
|
-A.
Shareholders' equity.............. |
12 969 000,00 |
30 578 000,00 |
17 303 002,93 |
17 538 080,90 |
|
-
I. Basic share capital........... |
|
|
1 000 000,00 |
1 000 000,00 |
|
-
IV. Statutory reserve capital..... |
|
|
11 538 080,90 |
5 560 918,70 |
|
-
VI. Other reserve capital......... |
|
|
|
1 085 520,28 |
|
-
VII. Profit (loss) carried forward. |
|
|
-713 326,17 |
|
|
-
VIII. Net profit (loss)............ |
|
|
5 478 248,20 |
9 891 641,92 |
|
-B.
Liabilities and reserves for |
65 317 000,00 |
63 652 000,00 |
29 076 768,69 |
30 275 889,79 |
|
-
I. Reserves for liabilities...... |
|
7 976 000,00 |
196 013,46 |
233 179,94 |
|
-
1. Deferred income tax reserves.. |
|
|
171 013,46 |
63 323,87 |
|
-
2. Reserves for pensions and |
|
|
|
86 856,11 |
|
-
- short-term................... |
|
|
|
86 856,11 |
|
-
3. Other reserves................ |
|
|
25 000,00 |
82 999,96 |
|
-
- short-term................... |
|
|
25 000,00 |
82 999,96 |
|
-III.
Short-term liabilities.......... |
59 803 000,00 |
55 350 000,00 |
28 858 100,04 |
29 791 669,22 |
|
-
1. Due to affiliated companies..... |
|
|
2 917 108,02 |
|
|
-
a) Due to deliveries and |
|
|
2 917 108,02 |
|
|
-
- up to 12 months.............. |
|
|
2 917 108,02 |
|
|
-
2. Other liabilities............... |
|
|
25 940 992,02 |
29 791 669,22 |
|
-
a) Loans......................... |
|
|
2 187 442,50 |
1 507 433,72 |
|
-
c) Other financial liabilities... |
|
|
634 579,07 |
3 844 541,83 |
|
-
d)Due to deliveries and |
|
|
11 779 044,03 |
14 577 519,96 |
|
-
- up to 12 months.............. |
|
|
11 779 044,03 |
14 577 519,96 |
|
-
g) Due to taxes, subsidies, |
|
|
11 328 100,00 |
9 839 623,17 |
|
-
h) Due to salaries............... |
|
|
|
2 043,70 |
|
-
i) Other......................... |
|
|
11 826,42 |
20 506,84 |
|
-IV.
Accruals and deferred income.... |
278 000,00 |
325 000,00 |
22 655,19 |
251 040,63 |
|
-
2. Other accruals.................. |
|
|
22 655,19 |
251 040,63 |
|
-
- short-term..................... |
|
|
22 655,19 |
251 040,63 |
|
-D.
Total liabilities................. |
78 286 000,00 |
94 230 000,00 |
46 379 771,62 |
47 813 970,69 |
|
|
|
|
|
|
|
Source
of financial data |
Subject |
Subject |
Court |
Court |
|
|
annual |
annual |
annual |
annual |
|
individual
PROFIT AND LOSS ACCOUNT |
01.01.2017- |
01.01.2016- |
01.01.2014- |
01.01.2013- |
|
-A.
Income from sales and similar..... |
392 804 000,00 |
467 976 000,00 |
294 107 800,83 |
187 091 088,41 |
|
-
I. Net income on sales........... |
|
|
1 497 337,80 |
203 139,40 |
|
-
IV. Income from sales of goods |
|
|
292 610 463,03 |
186 887 949,01 |
|
-B.
Operational costs................. |
|
|
287 088 606,18 |
173 870 861,28 |
|
-
I. Depreciation.................. |
|
|
487 270,82 |
356 025,50 |
|
-
II. Materials and energy.......... |
|
|
96 827,56 |
46 144,25 |
|
-
III. Third party services.......... |
|
|
28 526 312,90 |
17 353 927,74 |
|
-
IV. Taxes and duties.............. |
|
|
32 852,06 |
84 373,02 |
|
-
V. Salaries and wages............ |
|
|
799 698,47 |
1 010 845,81 |
|
-
VI. Social security............... |
|
|
270 574,98 |
261 929,21 |
|
-
VII. Other......................... |
|
|
5 656 744,85 |
1 803 016,04 |
|
-
VIII.Costs of goods and materials |
|
|
251 218 324,54 |
152 954 599,71 |
|
-C.
Profit on sale.................... |
32 592 000,00 |
13 278 000,00 |
7 019 194,65 |
13 220 227,13 |
|
-D.
Other operating incomes........... |
|
|
3 274 123,70 |
950 416,84 |
|
-
I. Incomes from disposal |
|
|
51 904,82 |
139 187,31 |
|
-
II. Subsidies..................... |
|
|
|
85 256,78 |
|
-
III. Other operating incomes....... |
|
|
3 222 218,88 |
725 972,75 |
|
-E. Other
operating costs............. |
|
|
543 292,96 |
2 946 864,26 |
|
-
II. Goodwill revaluation.......... |
|
|
3 711,81 |
2 290 226,46 |
|
-
III. Other operating costs......... |
|
|
539 581,15 |
656 637,80 |
|
-F. Profit
on operating activities.... |
|
|
9 750 025,39 |
11 223 779,71 |
|
-G.
Financial incomes................. |
|
|
549 491,08 |
22 204,82 |
|
-
II. Interest received............. |
|
|
536 269,45 |
22 204,82 |
|
-
V. Other......................... |
|
|
13 221,63 |
|
|
-H.
Financial costs................... |
|
|
3 262 876,30 |
1 535 745,32 |
|
-
I. Interest...................... |
|
|
608 430,21 |
249 375,21 |
|
-
IV. Other......................... |
|
|
2 654 446,09 |
1 286 370,11 |
|
-I.
Profit on economic activity....... |
|
|
7 036 640,17 |
9 710 239,21 |
|
-K.
Gross profit...................... |
|
|
7 036 640,17 |
9 710 239,21 |
|
-L.
Corporation tax................... |
|
|
1 558 391,97 |
-181 402,71 |
|
-N. Net
profit........................ |
|
|
5 478 248,20 |
9 891 641,92 |
|
|
|
|
|
|
|
Ratios |
01.01.2017- |
01.01.2016- |
01.01.2014- |
01.01.2013- |
|
|
Current
ratio |
1,21 |
1,63 |
1,59 |
1,55 |
|
|
Quick
ratio |
0,51 |
0,86 |
0,78 |
0,63 |
|
|
Immediate
ratio |
0,03 |
0,04 |
0,19 |
0,45 |
|
|
Return
on sale |
|
|
1,86 |
5,29 |
|
|
Return
on assets |
|
|
11,81 |
20,69 |
|
|
Return
on equity |
|
|
31,66 |
56,40 |
|
|
Average
trade debtors' days |
26,38 |
35,45 |
20,84 |
6,83 |
|
|
Average
stock turnover's days |
28,50 |
21,93 |
20,35 |
52,67 |
|
|
average
payables payment period |
55,57 |
43,29 |
35,81 |
58,12 |
|
|
Total
indebtedness ratio |
83,43 |
67,55 |
62,69 |
63,32 |
|
|
While
rating the company, it is advisable |
|||||
|
(G.46.90.Z
- NACE 2007), as at : |
31.12.2017 |
31.12.2016 |
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
Current
ratio............................ |
1,54 |
1,56 |
1,51 |
1,41 |
1,27 |
|
Quick
ratio.............................. |
1,03 |
1,05 |
1,02 |
0,93 |
0,84 |
|
Immediate
ratio.......................... |
0,17 |
0,19 |
0,17 |
0,14 |
0,12 |
|
Return on
sale........................... |
2,34 |
2,42 |
2,74 |
2,39 |
2,18 |
|
Return
on assets......................... |
4,99 |
5,27 |
6,07 |
5,39 |
4,73 |
|
Return
on equity......................... |
11,01 |
11,44 |
12,87 |
12,28 |
11,24 |
|
Average
trade debtors' days.............. |
57,56 |
55,02 |
51,33 |
52,34 |
52,56 |
|
Average
stock turnover's days............ |
36,69 |
35,58 |
32,95 |
34,13 |
32,82 |
|
average
payables payment period.......... |
74,44 |
72,15 |
69,40 |
73,12 |
78,91 |
|
Total indebtedness
ratio................. |
54,70 |
53,93 |
52,87 |
56,15 |
57,91 |
|
Percent
share in the examinated group |
89,50 |
88,70 |
90,10 |
85,80 |
86,80 |
|
Sales/revenue
per employee in th. PLN.... |
1 292,07 |
1 273,54 |
1 333,61 |
1 348,43 |
1 326,46 |
|
Average
sales/revenue per company in |
244 736,68 |
237 685,23 |
255 518,92 |
249 661,96 |
227 937,24 |
|
|
|
|
|
|
|
|
according
to the Central Statistical Office |
|||||
|
Locations: |
seat: |
|
|
|
|
|
|
|
|
|
Real
Estate |
No data |
|
|
|
|
|
|
|
|
|
|
|
Means
of transport |
As at
31.12.2014 book value of car fleet was: PLN 256 141,65 |
|
|
|
|
|
|
|
|
Shares
in other companies |
As at
30.03.2018 there are no shares in other companies. |
|
|
|
|
|
|
|
|
|
|
Connections: |
Dariusz Chrastina , personal ID no. (PESEL) 59010108837 |
|
|
|
Data
concerning connections are valid as at: 30.03.2018. |
|
|
|
|
|
|
|
|
|
General
information |
The
company refused to disclose complete financial data. |
|
|
|
|
|
|
|
Banks |
Credit Agricole Bank Polska SA Oddział w Warszawie
(19401210) |
|
|
|
|
|
|
|
|
Payment
Manner |
No Complaints |
(34) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
|
PLN |
1 |
INR 19.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.