MIRA
INFORM REPORT
|
Report Date : |
20th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
MACKATICA
A.D. |
|
|
|
|
Registered Office : |
Naselje Belo Polje b.b. 17530 Surdulica Serbia |
|
|
|
|
Country : |
Serbia |
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|
|
|
Financials (as on) : |
31/12/2004 |
|
|
|
|
Date of Incorporation : |
1953 |
|
|
|
|
Com. Reg. No.: |
59356 |
|
|
|
|
Legal Form : |
Joint
Stock company |
|
|
|
|
Line of Business : |
Manufacturers
of steel products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate
|
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
FIRM
MACKATICA A.D.
Fabrika brusnih ploca, masina i
livnica celika
Shortform name: MACKATICA A.D.
Address: Naselje Belo Polje b.b.
17530
Surdulica
Serbia
The Phone: +381-17-815-104 +381-17-815-360 +381-17-815-201 +381-17-814-201 +381-17-814-202
The Fax: +381-17-815-360
E-mail: mackatica@ptt.yu
PROFILE
|
National
Identification Number |
7180489 |
|
PIB
(Value Added Tax) |
100951074 |
|
Established |
1953 |
|
Legal
Form |
A.D. –
Joint Stock company (A.D.
– Akcionarsko Drustvo) |
|
Activity
|
Manufacture:
steel products |
|
Employees
|
355 (2004) |
|
Total
assets (in th CSD) |
1,406,503 |
|
Total
equity (in th CSD) |
525,403 |
|
Operating
Revenues (in th CSD) |
531,813 |
|
Profit
of the period (in th CSD) |
1,600 |
|
Loss
of the period (in th CSD) |
0 |
|
|
|
|
Trend |
Unstable |
|
Mode
of payment |
Payments
are made very slowly, reminders are often necessary |
|
Debt
Collection |
There
is record of debt collection action |
|
Maximum
Credit |
0 |
MANAGEMENT
|
Name |
Management |
Personal Identification Number |
|
Mr.
Aca Djordjevic |
General
Director |
1105955743717 |
|
Mr.
Djordjije Nicovic |
President
of Managing Board |
0104951714011 |
ESTABLISHED
In 1953
REGISTER NUMBER
59356, Serbian Business Registers Agency
ACCOUNT NUMBER BANKING
|
160-35394-12 |
BANCA
INTESA A.D., Belgrade |
|
180-175720101250-78 |
JUBANKA
A.D., Belgrade |
|
265-4110310000115-77 |
RAIFFEISENBANK
A.D., Belgrade |
|
325-36109-45 |
KULSKA
BANKA A.D., Novi Sad |
*Bank account is blockaded since January 20, 2005
DEBT COLLECTION
|
Through
our office: |
|
|
Case
registered: |
August
4, 2004 |
|
Case
status: |
Case
closed as uncollectable on July 6, 2005. Claim
was justified. |
|
Outside
our office: |
|
|
There
is no record of any debt collection action outside our office |
|
TYPE OF OWNERSHIP
|
A.D. -
Joint Stock company Shareholding
structure: |
||
|
Name |
Location |
Percentage |
|
Mr.
Djordje Nicovic |
Surdulica,
Serbia |
34.52% |
|
IRVA
INVESTICIJE A.D. |
Belgrade,
Serbia |
27.30% |
|
NICCO
A.D. |
Belgrade,
Serbia |
15.77% |
|
Private
shareholders |
- |
22.41% |
BUSINESS PREMISES
|
Type |
Location |
Covering
(in m2) |
Ownership |
|
Offices |
Naselje Belo Polje b.b., Surdulica |
- |
- |
|
Production
plant |
Naselje Belo Polje b.b., Surdulica |
- |
- |
|
Warehouse |
Naselje Belo Polje b.b., Surdulica |
- |
- |
MOTOR POOL
|
Vehicles |
Number |
|
Data
not available |
|
REAL ESTATE
Subject company is owner of some business premises
(no further details available).
EMPLOYEES
2004 355
employees
2003 425
employees
2002 558
employees
2001 554
employees
ACTIVITY
Line of business:
Manufacture of other fabricated metal
products (NACE: 28.7)
Manufacture: steel products (moulds, bowls,
round shots etc.), gas generators for cutting steel, electricity meters,
polishing plates etc.
EXPORT/IMPORT
Import from: Czech Republic, Slovenia, China
Exports to: Czech Republic, Slovenia, Bosnia
and Herzegovina, FYR Macedonia, Italy
CORPORATE STRUCTURE
Rep. Offices:
·
Nis,
Serbia
·
Belgrade,
Serbia
Affiliates:
·
IRVA
INVESTICIJE A.D., Belgrade, Serbia (NIN: 17175106)
Mr. Djordje Nicovic holds 100%
·
NICCO A.D., Belgrade, Serbia (NIN: 6525474)
Mr. Djordje Nicovic holds 92.40%
Subsidiaries: not identified
Immediate parent company:
·
IRVA
A.D., Belgrade, Serbia (NIN: 17175106): 27.30%
·
NICCO A.D., Belgrade, Serbia (NIN: 6525474): 15.77%
OTHER INFO
If relevant will appear in this section.
FINANCIAL DATA
BALANCE SHEET
|
MACKATICA
A.D. Surdulica |
31/12/2004 (in th CSD) |
31/12/2003 (in th CSD) |
31/12/2002 (in th CSD) |
31/12/2001 (in th CSD) |
|
|
||||
|
FIXED
ASSETS |
680,966 |
360,776 |
346,161 |
275,139 |
|
Intangible fixed assets |
0 |
11,329 |
10,623 |
7,234 |
|
Tangible fixed assets |
647,188 |
318,375 |
300,037 |
240,114 |
|
Other fixed assets |
33,778 |
31,072 |
35,501 |
27,791 |
|
|
|
|
|
|
|
CURRENT
ASSETS |
725,537 |
514,996 |
492,962 |
260,521 |
|
Inventories |
451,493 |
244,880 |
290,610 |
165,456 |
|
Short –
term loans |
274,044 |
234,246 |
195,701 |
88,481 |
|
*Cash and cash equivalent |
725 |
14,924 |
2,955 |
4,249 |
|
Other current assets |
0 |
3,602 |
3,696 |
2,335 |
|
LOSS |
0 |
0 |
0 |
31,459 |
|
TOTAL
ASSETS |
1,406,503 |
875,772 |
839,123 |
567,119 |
|
|
||||
|
EQUITY
|
525,403 |
246,940 |
227,949 |
230,905 |
|
Subscribed capital |
220,016 |
167,096 |
167,096 |
167,096 |
|
Revalorization reserves |
273,628 |
78,451 |
60,671 |
63,809 |
|
Undistributed Income |
31,759 |
1,393 |
182 |
0 |
|
Loss |
0 |
0 |
0 |
0 |
|
LONG
TERM RESERVATIONS |
0 |
4,009 |
915 |
0 |
|
LONG
TERM LIABILITIES |
64,760 |
71,397 |
86,793 |
0 |
|
SHORT
TERM LIABILITIES |
816,340 |
548,436 |
518,790 |
333,809 |
|
OTHER
LIABILITIES |
0 |
4,990 |
4,676 |
2,405 |
|
TOTAL
LIABILITIES |
1,406,503 |
875,772 |
839,123 |
567,119 |
|
Exchange rate CSD/EURO |
78.89 |
68.31 |
61.52 |
59.71 |
PROFIT AND LOSS ACCOUNT
|
MACKATICA
A.D. Surdulica |
31/12/2004 (in th CSD) |
31/12/2003 (in th CSD) |
31/12/2002 (in th CSD) |
31/12/2001 (in th CSD) |
|
|
||||
|
OPERATING
REVENUES |
531,813 |
525,397 |
773,142 |
622,057 |
|
Sales (goods) |
460,318 |
36,919 |
172,793 |
185,056 |
|
Domestic market |
0 |
36,097 |
166,772 |
167,803 |
|
Foreign market |
0 |
822 |
6,021 |
17,250 |
|
Sales (products and services) |
0 |
436,212 |
534,917 |
409,999 |
|
Domestic market |
0 |
355,852 |
434,824 |
350,947 |
|
Foreign market |
0 |
80,360 |
100,093 |
59,052 |
|
OPERATING
EXPENSES |
488,767 |
482,235 |
787,721 |
582,185 |
|
Material costs |
265,498 |
312,920 |
546,416 |
405,317 |
|
Cost of employees |
103,825 |
75,157 |
116,970 |
85,392 |
|
Deprecation |
32,874 |
28,583 |
24,740 |
19,767 |
|
FINANCIAL
REVENUES |
18,837 |
1,156 |
511 |
343 |
|
FINANCIAL
EXPENSES |
76,635 |
37,962 |
31,181 |
12,071 |
|
Financial
P/L |
(57,798) |
(36806) |
(30,670) |
(11,728) |
|
EXTRAORDINARY
REVENUES |
0 |
37,173 |
57,814 |
65,129 |
|
EXTRAORDINARY
EXPENSES |
0 |
12,148 |
12,337 |
112,528 |
|
Extraordinary
P/L |
0 |
25,025 |
45,477 |
(47,399) |
|
OTHER
REVENUES |
28,662 |
0 |
0 |
0 |
|
OTHER
EXPENSES |
12,085 |
0 |
0 |
0 |
|
Other P/L |
16,577 |
0 |
0 |
0 |
|
TOTAL
REVENUES |
579,312 |
533,556 |
831,467 |
687,529 |
|
TOTAL
EXPENSES |
577,487 |
532,345 |
831,239 |
706,784 |
|
Profit before taxation |
1,825 |
1,211 |
228 |
0 |
|
Loss before taxation |
0 |
0 |
0 |
19,255 |
|
Taxation on profit |
225 |
0 |
46 |
0 |
|
PROFIT
OF THE PERIOD |
1,600 |
1,211 |
182 |
0 |
|
LOSS
OF THE PERIOD |
0 |
0 |
0 |
19,255 |
|
Number
of employees |
355 |
425 |
558 |
554 |
|
Exchange rate CSD/EURO |
78.89 |
68.31 |
61.52 |
59.71 |
RATIOS
|
MACKATICA
A.D. Surdulica |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
|
||||
|
Financial
stability ratio |
0.52 |
0.53 |
0.50 |
0.52 |
|
Equity
ratio % |
37.36 |
28.20 |
27.17 |
40.72 |
|
Debt
to equity (Worth) |
1.68 |
2.51 |
2.66 |
1.45 |
|
Liquidity
ratio |
0.34 |
0.49 |
0.39 |
0.28 |
|
Current
ratio |
0.89 |
0.94 |
0.95 |
0.78 |
|
Total
assets turnover |
0.38 |
0.54 |
0.84 |
1.05 |
|
Average
collection period in days |
188 |
175 |
92 |
52 |
|
Profit
margin % |
0.30 |
0.23 |
0.02 |
(3.10) |
|
Return
on total assets % |
0.11 |
0.14 |
0.02 |
(3.40) |
|
Return
on equity % |
0.30 |
0.49 |
0.08 |
(8.34) |
|
Total
assets per employee (ths.) |
3,961.98 |
2,060.64 |
1,503.80 |
1,023.68 |
|
Equity
per employee (ths) |
1,480.01 |
581.04 |
408.51 |
416.80 |
|
Total
revenue per employee (ths.) |
1,498.06 |
1,236.23 |
1,385.56 |
1,122.85 |
|
Inventories
turnover |
1.18 |
2.15 |
2.66 |
3.76 |
|
Profit
per employee (ths.) |
4.51 |
2.85 |
0.33 |
- |
|
Loss
per employee (ths.) |
- |
- |
- |
34.76 |
|
Average
net to salaries (ths.) |
24.37 |
14.74 |
17.47 |
12.84 |
CASH FLOW REPORT
|
MACKATICA
A.D. Surdulica |
31/12/2004 (in th CSD) |
|
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
Cash inflows from operating
activities |
600,668 |
|
Cash outflows from operating activities
|
620,091 |
|
Net cash inflows from operating
activities |
0 |
|
Net cash outflows from operating
activities |
19,423 |
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
Cash inflows from investing activities |
160 |
|
Cash outflows from investing activities
|
29,679 |
|
Net cash inflows from investing activities |
0 |
|
Net cash outflows from investing
activities |
29,519 |
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
Cash inflows from financing
activities |
43,054 |
|
Cash outflows from financing activities
|
8,399 |
|
Net cash inflow from financing
activities |
34,655 |
|
Net cash outflow from financing
activities |
0 |
|
|
|
|
GROSS INFLOWS IN CASH |
643,882 |
|
GROSS OUTFLOWS IN CASH |
658,169 |
|
NET INFLOW IN CASH |
0 |
|
NET OUTFLOW IN CASH |
14,287 |
|
CASH AT THE BEGINNING OF THE PERIOD |
14,924 |
|
POSITIVE EFFECT ON EXCHANGE RATE CHANGES |
88 |
|
NEGATIVE EFFECT ON EXCHANGE RATE CHANGES |
0 |
|
CASH AT THE END OF THE PERIOD |
725 |
|
Principal
indicators of economic trends for Serbia (changes
to the previous year, %) |
2004 |
2003 |
2002 |
2001 |
|
|
||||
|
Gross domestic product |
8 |
2.1 |
3.8 |
5.3 |
|
Agricultural production |
18.2 |
-6.9 |
-2.1 |
17.2 |
|
Industrial
production |
7.5 |
-2.7 |
1.7 |
0.0 |
|
Unemployment
rate ,% |
31.7 |
31.7 |
29.0 |
26.8 |
|
|
|
|
|
|
|
Exchange
rate CSD/ USD |
57.94 |
54.64 |
58.98 |
67.67 |
|
Exchange
rate CSD/ EUR |
78.89 |
68.31 |
61.52 |
59.71 |
SOURCES
ALL DATA/INFORMATION ARE FROM THE
OFFICIAL, OUR RECORDS, PUBLIC SOURCES, OUTSIDE SOURCES AND THE SUBJECT COMPANY.
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 |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
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 |