Confidential, this information is provided by Dun & Bradstreet to : 000000000 Subject to the terms and conditions of your contract.
Iberian Top Level BIR
Identification
SOCIEDADE EXEMPLO, LDA
ADDRESS: RUA BARATA SALGUEIRO, 28-5.
LISBOA
LISBOA
1250 LISBOA
PO
TEL: 01-3146636
FAX: 01-3524695
TRADING STYLE(S): EXEMPLO 1
REGISTERED OFFICE: Rua Sousa Lopes, 13 - 1600 Lisboa
FISCAL CODE 000000000
DUNS: 45-339-0494
CURRENCY: Shown in Portuguese Escudos, unless otherwise stated.
LANGUAGE: In certain circumstances information in this report may be quoted
in the local language. In case of difficulty, please contact your D&B
local Customer Service Department.
Evaluation
D&B RATING: 5A3
CONDITION: FAIR
MAXIMUM CREDIT: 3,663,599,000
TREND: EVEN
AVERAGE DAYS(S) BEYOND TERMS: 0
D&B PAYMENT SCORE: 80
ACCOUNTS INCORPORATED IN REPORT: 31-12-1997
Factors that have been considered in assigning the D&B Risk Indicator
include:
- Up to date financial results available and analysed.
- Positive profit results from the latest year's financials.
- A strong current ratio indicating a lower credit risk.
- Protested bills have been presented against the business.
- Judgement(s) have been filed against subject in the last 3 years.
- The D&B Payment score is good.
The D&B 'maximum credit recommendation' for this business is 3,663,599,000.
The D&B Payment Score of 80 corresponds to an average of 0 day(s) beyond
terms.
D&B Rating Comparison
Financial Strength Indicator Comparison:
This business has a Financial Strength Indicator of 5A (based on Net Worth)
Comparing this company against 267 other businesses, within its industry
sector (SIC Code 5141), reveals the following:
NUMBER OF FINANCIAL STRENGTH
BUSINESSES INDICATOR COMPARISON
0 (0.0%) Higher
5 (1.9%) Same
262 (98.1%) Lower
Risk Indicator Comparison:
This business has a Risk Indicator of 3 (greater than average risk).
LEVEL OF RISK: COMPARISON WITH INDUSTRY
Comparing this business against the 5 businesses within the same Financial
Strength category, reveals that:
NUMBER OF RISK
BUSINESSES COMPARISON
0 (0.0%) Higher risk
3 (60.0%) Same
2 (40.0%) Lower risk
Conclusion:
This business therefore has a HIGHER than average Financial Strength,
compared to its Industry Sector, and a HIGHER than average Risk Indicator,
when comparing businesses of the same Financial Strength category.
Summary
STARTED: 1980 SALES: 14.372.856.000
DATE INC: 28-12-80 31-12-1997
LEGAL FORM: SOC. POR QUOTAS PROFIT/(LOSS): 15.218.963
REG. CITY: LISBOA (THOUSANDS)
REG NO: 1359 NET WORTH: 36.635.990.000
EMPLOYS: 45 31-12-1997
NOMINAL CAPITAL: 500.000.000
LINE OF BUSINESS: GENERAL GROCERY WHOLESALERS
FOOD RETAILERS
SIC CODE(S): 5141 5499
Public Record Information
The following were registered:
DATE TYPE AMOUNT RESULT
21-10-1997 Protested bill 1.500.000 Not justified
A.J.Pires, Lda
25-1-1996 Registered 357.000 Justified
BPA/Nomeacoes, Lda
30-11-1994 Protested bill 15.000.000 Justified
BCP/Tradicoes, Lda
25-10-1994 Protested bill 10.000.000 Justified
BBV/Viacao
On 21-12-1994 a lawsuit for small figures was initiated against subject by
ABC - Produtos, SA for 150.000 at the Court for Lisboa.
This resulted in an acquittal.
On 21-10-1997 an ordinary lawsuit was initiated against subject by Teste
Vigilancia, Lda for 2.340.000 at the Court for Lisboa.
The suit is pending.
On 4-7-1996 a lawsuit for very small figures was initiated against subject
by Conversao II, Lda at the Court for Porto.
The case was disputed.
On 31-3-1998 a lawsuit for small figures was initiated against subject by
Condicao Ideal, S.A. for 463.221 at the Court for Lisboa.
An appeal has been made.
On 5-2-1994 a lawsuit for small figures was initiated against subject by
Insersoes, Lda for 266.999 at the Court for Lisboa.
The case has been settled.
Special Events
Critical legal notice information filed is investigated by D&B Analysts,
and where relevant, comment is presented in this section.
Bankers
BANCO PORTUGUES DO ATLANTICO - Ag. Avenida da Liberdade - Lisboa.
BANCO COMERCIAL PORTUGUES - Ag. Praca do Rossio - Lisboa.
SOFINLOC, S.A..
Principals
PRINCIPALS ANTECEDENTS
Name: Dr. Joao Antonio Marques Managing Partner
Born: 24-11-1930
Address: Av. 24 de Julho, 35-4.Dto. em Lisboa
Marital status: divorced
Qualifications: Licenciado em Direito pela Unviversidade de Coimbra.
Work History: EFG - Empresa Financeira, Lda como Administrador ate 1996
Responsibility: Represents Example, Ltd.
Participation: 150.000.000
Associations: HIJ - Hoteis, Lda como socio gerente com uma participacao
de 100.000 num capital social de 500.000
O titular possui a casa onde reside no valor aproximado
de 30.000 contos propriedades rusticas sitas em regiao do
Douro com cerca de 1.500 m2 no valor aproximado de 10.000
contos.
Name: Eng. Luis Mendes Silva Managing Partner
Born: 01-01-1940
Address: Rua das Papoilas, 376-8.Esq. em Lisboa
Marital status: Married to Maria Alice Boaventura Ramos Silva
Marr. Contract: Property-sharing marriage contract
Qualifications: Licenciado em Engenharia Electrotecnica pelo I.S.T.
Participation: 90.000.000
Associations: Companhia de Seguros Bonanca, S.A. como membro do
Conselho de Administracao e accionista com 5000 accoes.
O titular possui a casa onde reside um apartamento T4
sito em Sao Pedro de Sintra no valor aproximado de 75.000
contos uma viatura de marca BMW 520 cuja matricula e
52-49-JC um terreno sito em Oliveira do Douro com cerca
de 500 m2 1.500 m2 no valor aproximado de 5.000 contos.
Name: Dr. Armando Maria Lopes Murta General Manager Name: Dr. Luis Alberto Mendes Silva Finance Manager
Born: 11-11-1958
Address: Rua das Sapateiras, 23-4.em Lisboa
Marital status: divorced
Qualifications: Licenciado em Gestao de empresas.
Name: Joao Manuel Fonseca Sales Manager
Born: 15-02-1942
Address: Rua Direita de Massama, 2 em Queluz.
Marital status: Married to Ana Maria Salvado Fonseca
Marr. Contract: Property-separation marriage contract
Name: Enga. Ana Maria Aleluia EDP Manager
Born: 12-03-1966
Address: Rua Barata Salgueiro, 28-3. em Lisboa
Marital status: married
Qualifications: Licenciada em Engenharia Electrotecnica
Name: Luis Antonio Moedas Gago Operations Manager
D&B Collection Services Claims
D&B handles over 1 million business-to-business claims within Europe. On
this business we have not identified/registered any during the last 36
months.
Payment Habits
D&B has collected 4 trade references amounting to 9,022,500 which show
that, on average, this business pays its bills WITHIN TERMS (Payment Score
= 80). In some instances, payment beyond terms can be the result of
overlooked or disputed invoices.
BREAKDOWN OF PAYMENT EXPERIENCES FOR THE 12 MONTHS ENDING SEPTEMBER 98
CREDIT AMOUNT BANDS: NUMBER OF TOTAL
PAYMENT EXPERIENCES AMOUNT
Between 3,000,000 & 9,999,999 2 9,000,000
100% of amount stated as Within Terms
Below 250,000 2 22,500
100% of amount stated as Within Terms
Total Payment Experiences in file 4 9,022,500
Financial Comparisons
Fiscal Fiscal Fiscal 31-12-1995 31-12-1996 31-12-1997 '000s '000s '000s
Net Sales 12.590.044 9.460.559 14.372.856
Pre-Tax Profit (Loss) 2.065.355 1.519.001 15.218.963
Accounts Receivable 4.015.553 6.040.322 4.439.279
Current Assets 17.812.087 19.121.013 28.509.432
Current Liabilities 1.883.632 2.489.614 3.093.997
Working Capital 15.928.455 16.631.399 25.415.435
Total Assets 28.368.377 30.406.208 42.628.418
Total Debts 4.034.327 4.633.961 5.992.428
Net worth 24.334.050 25.772.247 36.635.990
Employee Costs 1.884.337 1.946.090 2.178.461
Employees 60 60 60
(Number of employees is not in thousands)
Performance Ratios
31-12-1995 31-12-1996 31-12-1997FINANCIAL STATUS
Acid Test (X) 3,3 3,0 5,6
Current Ratio (X) 9,5 7,7 9,2
Solvency Ratio (%) 16,6 18,0 16,4
Fixed Assets/Net Worth (%) 43,3 43,8 38,5
Current Liab's/Net Worth(%) 7,7 9,7 8,4
Current Liab's/Stocks (%) 16,2 21,4 27,8
Net worth to total assets 85,8 84,8 85,9
ASSET UTILITY
Stock Turnover Rate 1,1 0,8 1,3
Collection Period (Days) 116,4 233,0 112,7
Asset Turnover (%) 44,4 31,1 33,7
Sales/Net Working Cap. (X) 0,8 0,6 0,6
PROFITABILITY
Profit Margin (%) 21,6 20,8 109,0
Shareholders' Return (%) 11,2 7,6 42,7
Return On Capital (%) 10,9 7,5 42,4
Return On Assets (%) 9,6 6,5 36,7
EMPLOYEE (000'S)
Capital Employed/Employee 416.846,3 438.678,8
Sales/Employee 209.834,1 157.676,0
Profit/Employee 45.327,4 32.745,2
Employee Average Wage 31.405,6 32.434,8
Financial Statement
Type Fiscal Fiscal Variance
Closing date 31-12-1996 31-12-1997 97/96 (%)ASSETS '000s '000s
Land 20.621 20.623
Buildings 155.429 159.880 2,90
Fixtures & Equipment 2.859.645 3.158.178 10,40
Machines & Tools 44.601 48.620 9,00
Furniture & Vehicles 892.324 948.845 6,30
Other Fixed Assets 23.666 23.976 1,30
Total Fixed Assets 3.996.286 4.360.122 9,10
Total Intangibles 38.690 4.585 (88,10)
Deferred Prepaid Exps 7.138 25.073 251,30
Long Term Provisions (13.753) (13.753)
Depreciation (3.627.461) (3.788.565) (4,40)
Shares in Assoc Cos 1.477.663
Particip. Interest 9.115.471 13.346.018 46,40
Other Financial Ass. 291.161 185.506 (36,30)
Cash 2.844 573 (79,90)
Cash at Bank 963.804 322.010 (66,60)
Accounts Receivable 6.040.322 4.439.279 (26,50)
Prepayments 3.030 22.907 656,00
Taxation Recoverable 28.952 312 (98,90)
General Accounts 115.500 215.500 86,60
Other Receivables 432.581 12.398.895
Doubtful Receivables (75.021)
Merchandise 177.811 150.570 (15,30)
Work in Progress 11.352.613 10.819.262 (4,70)
Raw Materials 78.577 85.328 8,60
Inventory 54.796
Tot. Net Stocks & WIP 11.609.001 11.109.956 (4,30)
Total Current Assets 19.121.013 28.509.432 49,10TOTAL ASSETS 30.406.208 42.628.418 40,20
---------------------------------------------------------
LIABILITIES '000s '000s
Issued Capital 11.320.000 11.320.000
Reserves 6.302.712 4.004.619 (36,50)
Special Reserves 10.000 10.000
Revaluation Reserve 219.231 219.231
Available Reserves 7.105.102 7.844.354 10,40
Profit/Loss bt fwd. (703.799) (1.981.177) (181,50)
Profits for the year 1.519.001 15.218.963 901,90
Total Stock Equity 25.772.247 36.635.990 42,20
Other Long-term Liabs 548.480 336.551 (38,60)
Regularization Acct. 1.595.867 2.561.880 60,50
Total Debts 4.633.961 5.992.428 29,30
Advances Received 264.244 40.742 (84,60)
Accounts Payable 1.699.663 1.813.037 6,70
Taxes 125.202 286.664 129,00
Debts on Fixed Assets 37.827 80.516 112,90
Other Current Liabs. 144.214 654.574 353,90
Short Term Provisions 218.464 218.464
Total Current Liabs. 2.489.614 3.093.997 24,30TOTAL LIABILITIES 30.406.208 42.628.418 40,20
---------------------------------------------------------
Closing date 31-12-1996 31-12-1997 VariancePROFIT AND LOSS ACCOUNT '000s '000s 97/96 (%)
Total Income 10.581.504 28.593.951 170,20
Net Sales 9.460.559 14.372.856 51,90
Variation in Inventory (20.305) (533.351)
Supplementary Operating 24.559 27.188 10,70
Cost of Goods Sold 1.629.223 2.620.399 60,80
Services 4.704.934 7.718.256 64,00
Other Tax 46.171 70.662 53,00
Payroll 1.946.090 2.178.461 11,90
Depreciation 200.669 222.202 10,70
Other Operating Charges 7.289 5.698 (21,80)
Total Financial Income 860.533 3.541.840 311,60
Total Financial Expenses 11.574 38.148 229,60
Extraordinary Income 256.157 11.185.418
Extraordinary Expenses 70.844 80.110 13,10
Profit Before Tax 1.964.709 15.660.015 697,10
Net Taxation 445.708 441.052 (1,00)
Net Profit 1.519.001 15.218.963 901,90
Number of Employees 60
(Number of employees is not in thousands)
INSURANCE
Has policies with:
Companhia de Seguros Imperio, SA
Zurich Life Insurance Company, Lda
VEHICLES
Mercedes 190 52-29-CU.
Opel Astra 55-12-AE.
Corporate Structure
CAPITAL
Nominal Capital is 500.000.000 with the following distribution:
SHAREHOLDERS:
Voting Capital Shareholder
260.000.000 Example, Ltd
150.000.000 Luis Antonio Marques
90.000.000 Luis Mendes Silva
SIGNATURES: to commit the company legally it is required:
duas assinaturas
PARENT COMPANY
IMMEDIATE PARENT
NAME: Example, Ltd
60 Cambridge RD
Nothingham
England
This parent company has 3 other subsidiaries.
ULTIMATE PARENT
The ultimate parent is Example Corporation
SUBSIDIARIES
Subject has one subsidiary.
LMO - Turismo, Lda com sede na Avenida 5 de Outubro, 120 em Evora,
Registration details: Reg. na Cons. do Reg. Comercial de Evora com o numero
1025, ownership: 97%, year started 1980, operates as Operacoes turisticas
The following are related through principal(s) and/or financial
interest(s):
Subject has a financial interest in the following concerns:
EFG - Empresa Financeira, Lda, Avenida da Liberdade, 12 1200, Lisboa. This
concern is a private limited company, year started 1983, operates as
Prestacao de servicos de Consultadoria, Capital: 2.000.000, amount of
interest: 500.000
Hij - Hoteis, Lda, Avenida Dr. Lourenco Peixinho, 40 3800, Aveiro. This
concern is a private limited company, year started 1979, operates as
Industria hoteleira, Capital: 2.500.000, amount of interest: 700.000
BRANCHES
Number of branches or divisions: 2
Avenida da Boavista, 33 , 4000 Porto operating as comercio de retalho,
paying a monthly rent of 20.000
Rua Ferreira Borges, 52 , 3000 Coimbra operating as o comercio por grosso e
retalho, paying a monthly rent of 75.000
History/Operations
HISTORY
Business started 03-12-1980
Constitution published in the 'Diario da Republica' number 13 on 28-12-80.
Limited partnership, registered 04-12-1980
Inscribed in the Mercantile Register of LISBOA REG NO 1359
Escritura de constituicao celebrada em 30 de Novembro de 1980. Alteracoes
ao pacto social em 20.03.1989 (DR 195 de 26.08.1989), aumento de capital,
10.12.1989 (DR 200 de 24.12.1989). Outras alteracoes ao pacto social em
14.10.1994 (DR 35 de 02.05.1995), renuncia de gerencia
Esta previsto um aumento de capital social ainda no decorrer do presente
ano, devendo ser totalmente subscrito pelos actuais socios.
OPERATIONS
SIC CODE(S): 5141 5499
GENERAL GROCERY WHOLESALERS
FOOD RETAILERS
Grossista e retalhista de productos alimentares - 100%
Sells to: retalhistas - 60%; publico - 40%
Terms are: 60% a credito a 60 dias e 40% a pronto pagamento
Condicoes de compra: 60% a credito a 30/60 dias e 40% a pronto pagamento
Number of accounts: 100.
Territory: 20% local, 50% national, 30% international
Exports: 30% of sales to Inglaterra
Imports: 20% of purchases from E.U.A.
EMPLOYEES: 45 (including 2 principal(s)) including, salesmen: 4,
labourers: 35, clerks: 4.
Premises: Subject owns premises, at the heading address covering
3200 sq. metres
Comments: A titular tem ainda instalacoes na Rua da
Saudade, 15 no Porto em propriedade propria e um
armazem na Av. Luis Antonio de Melo em Camarate, em
propriedade alugada pagando a renda mensal de 125.000
REGISTERED OFFICE: Rua Sousa Lopes, 13 - 1600 Lisboa
Management Comment
On 6-11-1998, confirmed general details in this report.
Outside sources submitted the following partial estimates
Projected sales turnover for 1998 : 16.000.000.000
A gerencia stated that
A titular possui um predio urbano sito na Avenida dos Pescadores, 16 na
Costa da Caparica a qual atribuem um valor de 250000000 e ainda uma
propriedade rustica na Figueira da Foz com a area de 15.000 m2.
