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MIRA INFORM REPORT
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Report No. : |
508763 |
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Report Date : |
12.05.2018 |
IDENTIFICATION DETAILS
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Name : |
IMPORTADORA CAFE DO BRASIL S.A. |
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Registered Office : |
Calle Caupolican No. 9401, Quilicura Santiago |
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Country : |
Chile |
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Date of Incorporation : |
10.04.1969 |
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Com. Reg. No.: |
1,273 |
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Legal Form : |
Industrial and Commercial Stock Company |
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Line of Business : |
Elaboration, import and trade of snacks and canned
products. |
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No. of Employees : |
1,000 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
US$ 600,000.00 |
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Status : |
Good |
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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.
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 60% of total exports. Copper is Chile’s top export and provides 20% of government revenue.
From 2003 through 2013, real growth averaged almost 5% per year, despite a slight contraction in 2009 that resulted from the global financial crisis. Growth slowed to an estimated 1.4% in 2017. A continued drop in copper prices prompted Chile to experience its third consecutive year of slow growth.
Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, effective 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the EU, Mercosur, China, India, South Korea, and Mexico. In May 2010, Chile signed the OECD Convention, becoming the first South American country to join the OECD. In October 2015, Chile signed 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 October 2016, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $23.5 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn.
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.
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Source
: CIA |
COMPANY
NAME and ADDRESS
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COMPANY NAME |
IMPORTADORA CAFE DO BRASIL S.A. |
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TRADE NAME |
I.C.B. S.A. |
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TAX ID. TYPE |
RUT |
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TAX ID. NUMBER |
93.178.000-K |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Calle Caupolican No. 9401, Quilicura |
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CITY/PROVINCE/STATE |
Santiago |
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PHONE NUMBER(S) |
(56-2) 2487.1800 |
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EMAIL |
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WEBSITE |
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REMARKS OF IDENTIFICATION |
Another e-mail address: This report was requested with address CAMINO INTERIOR N.9401, QUILICURA, SANTIAGO
DE. Please notice that the correct data is shown above. |
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CREDIT
OPINION
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Industrial company of recognized
prestige locally. It seems to operate satisfactorily. No detrimental were
found. Thus, it is suitable for a credit line of US$600,000.00 Dollars. |
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PAYMENT RECORDS |
Regular |
LEGAL
INFORMATION
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TYPE OF COMPANY |
Industrial and Commercial Stock Company |
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INCORPORATION DATE |
10/04/1969 |
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CITY OF REGISTRATION |
Santiago |
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REGISTRY NUMBER |
Page 3,453, No. 1,273 |
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NOTARY |
Jorge De Solminihac |
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TERM |
Unlimited |
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PAID-UP CAPITAL |
Ps$67,530,259,495.00 Chilean Pesos |
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LAST CAPITAL INCREASE |
05/12/2016 |
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LISTED AT STOCK EXCHANGE |
NO |
BACKGROUND.-
The company began at the end of 1956, when
Mario and Vittorio Signorio acquired the CAFÉ DO BRASIL, located in the heart
of Santiago, which had been inaugurated in 1942. The company soon brought it to
the sale of related products, amongst coffee, tea, yerba mate and cocoa, giving
official initiation to what is known today as ICB SA
Started a
process of continuous expansion, of organic nature and via acquisitions, with
significant milestones that were strengthening the portfolio of ICB, the first
of which was the representation of the VAN CAMP'SA brand from 1966. In the
following years, ICB extended its presence in the chilean market, with the
incorporation of products like fruits, seafoods and vegetables in conservation.
A great and final advance occurred, but in 1995, when the company purchased
MARCO POLO (an important manufacturer of snacks, dried fruits and condiments)
and the representation of leading international brands, the company gave the
step that meant its transformation in a local food producer relevant.
This
development experienced a new and significant impulse in 1999, by acquiring the
recognized producer of pickles, sauces and dressings JUAN BAS ALIMENTOS SA, and
its DON JUAN brand (operation that led to create a second business unit), and
obtain that same year the representation for Chile of the FERRERO ROCHER brand.
Since
2000, and already becoming a holding, ICB has added to its offer several of the
main international brands in its respective items, like COLA CAO in 2004,
PRINGLES in 2006, KELLOGG'S and BAUDUCCO in 2012, and PUYEHUE and LAVAZZA in
2015. It should be mentioned that others of the trade brands currently marketed
by the company are NUTELLA, KINDER, TIC-TAC, ESMERALDA, COPACABANA, LOS
ASTURES, DON VITTORIO, CRISTIAN BUSTOS and EXCELSIOR.
Besides,
in 2003 a third business unit was created, ICB FOOD SERVICE, in order to attend
the HORECA channel (hotels, restaurants and casinos) through a complete
portfolio of more than 800 products.
ICB has
also been concerned that its growth includes the highest standards in
technological matter, distribution, logistics, training of its staff and
certifications of quality and safety, positioning at the vanguard between the
supplier companies of the retail industry.
In this way, ICB S.A. it has been raised
as a great corporation within the Chilean Food Sector. Today have more than one
thousand partners highly motivated and in constant training, three business
units, two productive plants and a large portfolio that exceeds the 1,500
products of prestigious brands both national and global, all of them produced
with advanced productive methods and raw materials the highest quality,
including between the favorites of local consumers.
Previously, the subject had the import
denomination CAFÉ DO BRASIL SOCIEDAD ANONIMA INDUSTRIAL Y COMERCIAL.
LEGAL ASPECTS.-
The social capital is divided by
7,240,354,902.00.
On
November 1st, 2014, the subject is obliged to issue only in
electronic format, the tax documents indicated: invoice, invoice does not affect
or exempt, invoice of purchase, invoice settlement, credit note and debit
note.
The
subject started operation on January 1st. 1993 and this one is not
considered as a smaller pro-SME company.
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RELATED
COMPANIES |
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COMPANY
NAME |
TAX ID.
NUMBER |
COUNTRY |
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JUAN BAS ALIMENTOS SA |
RUT 96.877.680-0 |
CHILE |
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PET CARE SPA |
RUT 76.155.288-0 |
CHILE |
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RENTAS SIGA SA |
RUT 76.284.399-4 |
CHILE |
BOARD
OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
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NAME |
JOB TITLE |
STAKE |
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SIGNORIO LARZABAL, FRANCESCA |
Director |
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LABATUF SOFFIA, ERNESTO |
Director |
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SIGNORIO LARZABAL, MARIO EMMANUEL |
Legal Representative/General Manager |
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FURNARO, ENZO |
Commercial Manager |
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SIGNORIO LARZABAL, FRANCESCA |
Director |
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LABATUF SOFFIA, ERNESTO |
Director |
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SIGNORIO LARZABAL, MARIO EMMANUEL |
Legal Representative/General Manager |
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FURNARO, ENZO |
Commercial Manager |
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LAUBREAUX DURAN, JESSI |
Accountant |
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OPERATIONS
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SECTOR |
C- Manufacturing Industries |
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ACTIVITY |
Elaboration of diverse products |
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ISIC CATEGORY |
10- Elaboration of food products |
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ISIC CLASS |
1079- Elaboration of other food products |
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MAIN ACTIVITY |
Elaboration, import and trade of snacks
and canned products. |
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% SALES IN CASH |
20% |
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% SALES ON CREDIT |
80% (terms at 30 days) |
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% TERRITORY OF SALES |
99.5% (national market) |
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% FOREIGN SALES |
0.5% |
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N. OF EMPLOYEES |
1,000 (on average) |
LOCATION.-
TAX ADDRESS, ADMINISTRATIVE OFFICE & WAREHOUSES:
Located at the heading address, in a rural zone of the city of easy access.
Spacious premises with an area of 20,000 sq.m. Premises in good repair.
COMMENTS AS TO OPERATIONS.-
It is representative of the following
brands: “KELLOGGS”, “NUTELLA”, “PRINGLES”, “FERRERO ROCHER”, “VAN CAMPS”, “DON
VITTORIO”, “BAUDUCCO”, “TIC TAC”, “KINDER”, “PUYEHUE”, “PERFETTI VAN MELLE”.
Other brands it trades: “ESMERALDA”, “COPACABANA”, “MENTOS”,
“HERSHEYS”, “MARCO POLO”, “DON JUAN”, “COLA CAO”, “FRUIT TELLA”, “CRISTIAN
BUSTOS”, “LAVAZZA”, “TE EXCELSIOR”, “LOS ASTURES”.
It is representative of the following
brands in Chile: “KELLOGG’S”, “NUTELLA”, “PRINGLES”, “FERRERO ROCHER”, “VAN
CAMPS”, “DON VITTORIO”, “BAUDUCCO”, “TIC TAC”, “KINDER”, “PERFETTI”, “PUYEHUE”.
Its main client is WALMART CHILE SA.
Main competitors:
CHILEFOOD SA
SOUTHPACIFIC KORP SA
RENDIC HERMANOS SA
PROCESADORA DE ALIMENTOS SA
ABASTECEDORA DEL COMERCIO LTDA.
AGROCOMMERCE SA
CASO Y CIA. SAC
EXPORTADORES DEL AGRO SA, among others.
The subject supplies the following
products: hams, ribs, chicken and turkey breasts, chops, salmon fillets, smoked
salmon, prawns, octopuses, potatoes, croquettes, desserts, kitchen oil, among
others.
Besides, the subject imports tuna loins,
dismantled tuna, cereals, peanut, chocolate cream, chocolate sauce, chocolate
chips, chocolate bonbons, chocolate cream, among others
FOREIGN
TRADE
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IMPORTS |
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YEAR |
2017 |
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AMOUNT |
US$79,115,955.00 |
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COUNTRIES |
Colombia, Thailand, Brazil, Peru, Argentina, Italy, Ecuador, Sri
Lanka, Canada, China, Vietnam, USA, Spain, Mexico, Canada, Australia, Italy,
Vietnam |
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NUMBER OF OPERATIONS |
2,179 |
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IMPORTS |
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YEAR |
2016 |
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AMOUNT |
US$76,551,562.00 |
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COUNTRIES |
Colombia, Thailand, Brazil, Peru, Argentina, Italy, Ecuador, Sri
Lanka, Canada, China, Vietnam, USA |
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OPERATIONS |
2,286 |
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IMPORTS |
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YEAR |
2015 |
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AMOUNT |
US$82,170,605.00 |
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COUNTRIES |
Colombia, Thailand, Brazil, Peru, Argentina, Italy, Ecuador, Sri
Lanka, Canada, China, Vietnam, USA, Uruguay |
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OPERATIONS |
2,363 |
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IMPORTS |
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YEAR |
2014 |
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AMOUNT |
US$71,249,812.00 |
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COUNTRIES |
Colombia, Thailand, Brazil, Peru, Argentina, Italy, Ecuador, Sri
Lanka, Canada, China, Vietnam, USA, Uruguay |
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OPERATIONS |
1,690 |
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IMPORTS |
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YEAR |
2013 |
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AMOUNT |
US$76,660,759.00 |
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COUNTRIES |
Colombia, Thailand, Brazil, Peru, Argentina, Italy, Ecuador, Sri
Lanka, Canada, China, Vietnam, USA |
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OPERATIONS |
1,771 |
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EXPORTS |
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YEAR |
2017 |
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AMOUNT |
US$362,591.00 |
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COUNTRIES |
Uruguay, Paraguay, Sri Lanka, Ecuador, Peru, USA, Germany |
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OPERATIONS |
86 |
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EXPORTS |
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YEAR |
2016 |
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AMOUNT |
US$832,439.00 |
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COUNTRIES |
Sri Lanka, Argentina, Uruguay, Paraguay, USA, New Zealand |
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OPERATIONS |
89 |
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EXPORTS |
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YEAR |
2015 |
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AMOUNT |
US$1,006,941.00 |
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COUNTRIES |
Uruguay, Argentina, Paraguay, USA, Spain, China |
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OPERATIONS |
94 |
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EXPORTS |
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YEAR |
2014 |
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AMOUNT |
US$1,086,865.00 |
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COUNTRIES |
Argentina, Uruguay, Peru, Colombia, Paraguay, Germany, USA,
Germany |
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OPERATIONS |
84 |
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EXPORTS |
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YEAR |
2013 |
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AMOUNT |
US$1,108,314.00 |
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COUNTRIES |
Argentina, Colombia, Uruguay, Sweden, Paraguay, USA, Spain |
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OPERATIONS |
144 |
FINANCIAL
INFORMATION
The information comprised in this report has
been totally obtained from outside sources, in view that main executives
declined to collaborate with us.
No financial statements were obtained
through outside sources.
FIXED ASSETS.-
The company reports an office furniture
and equipment, among other assets.
INSURANCE.-
No insurance policies were reported.
PAYMENTS
REFERENCES
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SUPPLIER |
FOREIGN |
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START OF THE BUSINESS |
2012 |
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CREDIT LIMIT |
US$2,294,000.00 Dollars |
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MONTHLY SALES |
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CREDIT TERMS |
Drafts of 90 days |
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PRODUCTS/SERVICES |
Chocolate and confectionary products |
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RATING |
PROMPT |
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RATING COMMENTS |
Good client. Payments through banking transfer Supplier: FERRERO DEL ECUADOR SA |
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SUPPLIER |
FOREIGN |
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START OF THE BUSINESS |
Over 20 years ago |
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CREDIT LIMIT |
Not current operation limit |
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CREDIT TERMS |
Drafts of 60 days |
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PRODUCTS/SERVICES |
Fish conserves |
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RATING |
PROMPT |
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RATING COMMENTS |
Good client. Payments through banking transfer Average turnover: US$1,000,000.00
Dollars. Supplier: INDUSTRIA
ECUATORIANA PRODUCTORA DE ALIMENTOS CA |
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FOREIGN
SUPPLIERS |
Country |
Phone
Number |
Contact
Name |
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INDUSTRIA
ECUATORIANA PRODUCTORA DE ALIMENTOS CA |
Ecuador |
(593-5) 262.4584 |
Elvira Ponce |
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FERRERO DEL ECUADOR SA |
Ecuador |
(593-2) 298.4500 |
Luisa Gonzales |
COMMENTS OF SUPPLIERS.-
Local consulted suppliers reported they do
not provide information regarding their clients on the grounds of
confidentiality.
BANKS
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Bank
Name |
Country |
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BANCO DE CHILE SA |
Chile |
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BANCO DE CREDITO E INVERSIONES SA – BCI |
Chile |
BANK
REFERENCES
Consulted banks do not provide information
of their clients on grounds of confidentiality.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.22 |
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1 |
INR 90.88 |
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Euro |
1 |
INR 80.09 |
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CLP |
1 |
INR 0.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.