MIRA
INFORM REPORT
|
Report Date : |
23rd
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
INDUSTRIAL
QUIMICA DEL NALON SA |
|
|
|
|
Registered Office : |
Avenida Galicia, 31 33005
Oviedo (Asturias (Oviedo)) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
21.06.1943 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of chemical products n.e.c. |
RATING & COMMENTS
|
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 |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Company name
INDUSTRIAL QUIMICA DEL NALON
SA
TAX NUMBER
A33004524
Identification and
Characteristics
Tax Number A33004524
NAME INDUSTRIAL
QUIMICA DEL NALON SA
ANAGRAM NALONCHEM
BUSINESS ADDRESS AVENIDA
GALICIA, 31
Postcode 33005
OVIEDO (ASTURIAS (OVIEDO))
URL http://www.nalonchem.com
TELEPHONE 985982600
FAX 985982626
LEGAL FORM JOINT
STOCK COMPANY
DATE FOUNDED 21/06/1943
CAPITAL 6.961.113,00 Euros
PAID-UP CAPITAL 6.961.113,00 Euros
NUMBER OF EMPLOYEES 250
BANKS BSCH.ASTURIAS;
B POPULAR; B URQUIJO; BBVA; B
BANKINTER;
ACTIVITY 1256000 - Mfg.
of chemical products
CNAE 2466 - Manufacture
of other chemical products n.e.c.
IMPORT COMPANY YES
Synthesis
FINANCIAL SITUATION (Year ending: 31/12/2005)
PROFITABILITY 
5/9 Medium
TREASURY 
8/9 Very
good
BALANCE SHEET 8/9 Very
good
DEBT 
7/9 Low
INCIDENTS
COMMITMENTS 
9/9 Respected
INCIDENTS 9/9 None
or Negligible
PREVIOUS EXPERIENCE
PREVIOUS EXPERIENCE 9/9 Very
favourable
Credit Appraisal
CREDIT ACCORDING TO OBJECTIVE DATA (From 0 to 500.000,00 Euros):
FAVOURABLE TOWARDS 499.441,06 Max.
SOLVENCY RATING:
17/20 (BASED ON HOMOGENEOUS FORMULATION)
Financial Elements
Figures
given in Euros
|
|
Balance
sheet 2.003 (12) |
Balance
sheet 2.004
(12) |
Balance
sheet 2.005
(12) |
%
Sales |
|
SALES |
92.973.099,00 |
94.606.971,00 |
89.927.625,00 |
|
|
ADDED VALUE |
19.747.439,00 |
20.032.341,00 |
19.666.990,00 |
21,87 |
|
BUSINESS RESULT |
2.080.418,00 |
1.302.379,00 |
1.435.967,00 |
1,60 |
|
OWN FUNDS |
36.426.506,00 |
36.710.776,00 |
37.128.634,00 |
|
|
DEBT |
50.189.952,00 |
52.707.240,00 |
50.099.986,00 |
|
|
TOTAL ASSET |
88.682.250,00 |
91.429.706,00 |
89.124.419,00 |
|
The sales of 89.927.625,00 Euros show a change of
-4,95% compared with 2.004 . Between 2.003
and 2.004 , this change was 1,76% .
Added value grew by -1,82% compared with the previous year.
Shareholders equity are 37.128.634,00 Euros for an
indebtedness of 50.099.986,00 Euros .
The result 1.435.967,00 Euros means financial
profitability of 3,87% and economic profitability of
1,61% . This result means growth of 10,26% compared with
the 2.004 .
THE FIGURES FOR THE LAST BALANCE SHEET ARE RELEVANT:
SOURCE: FROM THE MERCANTILE REGISTER
DATE: 31/08/2006
Auditors’ opinion:
FAVOURABLE WITH RESERVATIONS (2.004)
Auditors:
DELOITTE
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005) |
|
|
|
%
of PRODUCTION VALUE |
|
|
|
|
SALES |
99,42 |
97,65 |
1,77 |
|
ADDED
VALUE |
21,74 |
26,73 |
-4,99 |
|
BUSINESS
RESULT |
1,59 |
3,74 |
-2,15 |
|
%
OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
41,66 |
38,44 |
3,22 |
|
DEBT |
56,21 |
61,56 |
-5,35 |
Compared sector
(CNAE) : 246 -
Fabricación de otros productos químicos
Number of companies : 22
Size (Sales Figure) : >
40.000.000,00 Euros
The turnover of the
company is 1,77% above the mean for the sector.
The company’s added
value was 21,74% s/ the production value, and 4,99% below the mean
for the sector.
The company’s
business result was 1,59% of the PV, 2,15% below the mean for the
sector.
The company’s own
resources are 41,66% , 3,22% above the mean for the sector.
The company’s
outside resources are 56,21% , 5,35% below the mean for the sector.
Legal Actions
No legal incidences registered for this company in
the official source
No claims registered for this company in the
official sources
AFFECTED BY: No significant elemento
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date
of appointment |
|
CHAIRMAN |
OREJAS RODRIGUEZ
ARANGO RUFINO |
11/05/2005 |
|
VICE-PRESIDENT |
OREJAS CANSECO
MIGUEL |
11/05/2005 |
|
BOARD MEMBER |
GARCIA RIESTRA
MANUEL |
29/09/1998 |
|
BOARD MEMBER |
GOMEZ DIAZ JOSE
MARIA |
27/08/2002 |
|
BOARD MEMBER |
GARCIA TUNON AZA
LUIS |
01/10/2003 |
|
BOARD MEMBER |
OREJAS RODRIGUEZ
ARANGO PEDRO |
01/10/2003 |
|
BOARD MEMBER |
RODRIGUEZ MARINA
GONZALEZ MARIA DOLORES |
01/10/2003 |
|
BOARD MEMBER |
GONZALEZ GARCIA
MANUEL OLIVO |
01/10/2003 |
|
BOARD MEMBER |
OREJAS PEREZ
JOAQUIN |
01/10/2003 |
|
AUDITOR |
DELOITTE TOUCHE
ESPANA SL |
01/09/2004 |
Financial Links
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
IBERICA DE
SERVICIOS E INVERSIONES SA |
A33010786 |
70,55%
|
M.REGISTER |
31/12/2005 |
|
GRUPO
CARTIBER-GARCIA ALONSO |
|
13,77%
|
M.REGISTER |
31/12/2005 |
|
GRUPO RODRIGUEZ
MARINA |
|
11,92%
|
M.REGISTER |
31/12/2005 |
|
GRUPO DEL
RIEGO-GARCIA TUNON |
|
2,60%
|
M.REGISTER |
31/12/2005 |
|
GRUPO TARTIERE |
|
Indet.
|
M.REGISTER |
31/12/1996 |
Shareholdings
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
|
|
A74018854 |
98,00%
|
OWN SOURCES |
03/05/2006 |
|
|
INDUSTRIAL
QUIMICA DEL NALON POLONIA SA |
POLONIA |
98,00%
|
M.REGISTER |
31/12/2005 |
|
|
CECILIA MARITIME
SA |
PANAMÁ |
50,00%
|
M.REGISTER |
31/12/2005 |
|
|
ASTURIAS MARITIME
SA |
PANAMÁ |
50,00%
|
M.REGISTER |
31/12/2005 |
|
|
SOCIEDAD REGIONAL
DE PROMOCION DEL PRINCIPADO DE ASTURIAS SA |
A33055138 |
0,00%
|
M.REGISTER |
31/12/1997 |
|
|
|
Company
with solvency rating below 7 |
||||
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice
Num. |
Mercantile
Reg. |
|
Re-elections |
07/11/2006 |
529621 |
ASTURIAS
(OVIEDO) |
|
Registration of
accounts (2005) |
25/08/2006 |
258145 |
ASTURIAS
(OVIEDO) |
|
Appointments |
05/09/2005 |
383150 |
ASTURIAS
(OVIEDO) |
|
Re-elections |
05/09/2005 |
383149 |
ASTURIAS
(OVIEDO) |
|
Registration of
accounts (2004) |
16/08/2005 |
218150 |
ASTURIAS
(OVIEDO) |
Press articles
04/06/2006 LA NUEVA ESPANA FINANCIAL
INFORMATION
QUIMICA
DEL NALON COMPLETARA ESTE AŃO UNA INVERSION DE 18 MM. DE EUROS EN LA PLANTA
INDUSTRIAL DE CIAŃO PARA GARANTIZAR SU CONTINUIDAD. LAS MEJORAS PER MITIRAN
REDUCIR LAS EMISIONES DE LA ATMOSFERA Y CUMPLIR CON LAS NORMATIVAS
MEDIOAMBIENTALES QUE IMPONE LA UNION EUROPEA A PARTIR DE 2007. QUIMICA DEL NALON
ADQUIRIO LA PLANTA DE LANGREO EN 1983 Y DESDE 1987 TIENE CENTRALIZADA EN CIAŃO
TODA SU PRODUCCION DE COQUE DE FUNDICION. ACTUALMENTE, PRODUCE AL AŃO 130.000
TONELADAS DE COQUE. EL 60% DEL COQUE SE VENDE FUERA DE ESPAŃA. LA FIRMA PUSO EN
MARCHA ENTRE 2002-2007 UN PLAN DE INVERSIONES QUE ARRANCO CON LA CONSTRUCCION
DE UNA PLANTA ELECTRICA QUE COSTO 7 MM. DE EUROS.
20/05/2004 COMERCIO BRANCHES
INFORMATION
INDUSTRIAL
QUIMICA DEL NALON HA INAUGURADO UNA PLANTA DE GENERACION ELECTRI CA, UBICADA EN
SU CENTRO DE PRODUCCION DE COQUE, EN CIAŃO. LA NUEVA INSTALA CION, QUE HA
SUPUESTO UNA INVERSION DE 6 MM. DE EUROS, GARANTIZA LA SOSTENI BILIDAD, EL
CRECIMIENTO Y EL FUTURO DE LA EMPRESA.
Complementary Information
03/05/01 BLOQUE DE INVESTIGACION:
- La titular indica que las oficinas se encuentran en Avda de Galicia
31 de Oviedo (Asturias).
- Ocupa local dedicado a fabrica en el Barrio Nalon Sn de Trubia (As-
turias).
----------------------------------------------------------------------
El bloque de Investigacion no esta sujeto a actualizaciones sistemati
cas. Los datos mostrados fueron aportados por las fuentes consultadas
en la fecha del encabezamiento.
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
INTERNATIONAL PITCH CONFERENCE |
||||
|
Kind
of Brand: |
JOINT |
File: |
M2566505 |
||
|
Request
Date: |
11/11/2003 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
APPROVED
REGISTER |
|
Types:
41 |
|
||||
|
Name: |
NALON 2000 |
||||
|
Kind
of Brand: |
DENOMINATIVE |
File: |
M1939660 |
||
|
Request
Date: |
04/01/1995 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
RENEWED
REGISTER |
|
Types:
1 |
|
||||
|
Name: |
NALON 2000 |
||||
|
Kind
of Brand: |
DENOMINATIVE |
File: |
M1939661 |
||
|
Request
Date: |
04/01/1995 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
RENEWED
REGISTER |
|
Types:
4 |
|
||||
|
Name: |
NALON 2000 |
||||
|
Kind
of Brand: |
DENOMINATIVE |
File: |
M1939662 |
||
|
Request
Date: |
04/01/1995 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
RENEWED
REGISTER |
|
Types:
6 |
|
||||
|
Name: |
NALON 2000 |
||||
|
Kind
of Brand: |
DENOMINATIVE |
File: |
M1939663 |
||
|
Request
Date: |
04/01/1995 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
RENEWED
REGISTER |
|
Types:
35 |
|
||||
Total Marcas: 6
The information on the last account
contained in this report is extracted from the Mercantile Register file of the
legal address of the Company and dated 31/08/2006
Balance Sheet (ASSETS)
|
(Figures given in
Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) DUE FROM
SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
37.902.869,00 |
40.232.015,00 |
39.992.298,00 |
|
|
I. Establishment
expenses |
|
|
|
|
|
II. Intangible
assets |
2.635.344,00 |
2.925.015,00 |
2.623.983,00 |
|
|
R & D
expenses |
2.497.791,00 |
2.950.472,00 |
2.992.894,00 |
|
|
Concessions,
patents,licences , trademarks |
104.142,00 |
112.428,00 |
328.275,00 |
|
|
Software |
673.555,00 |
731.872,00 |
817.283,00 |
|
|
Leasing |
108.690,00 |
35.101,00 |
|
|
|
Amortization |
-748.834,00 |
-904.858,00 |
-1.514.469,00 |
|
|
III. Tangible
assets |
31.581.549,00 |
33.932.953,00 |
33.835.488,00 |
|
|
Property, plant
and equipment |
11.991.715,00 |
13.292.166,00 |
13.694.826,00 |
|
|
Machinery,
equipment and other |
63.338.705,00 |
66.699.052,00 |
71.961.216,00 |
|
|
Other property
plant and equipement |
1.218.634,00 |
1.257.172,00 |
1.270.652,00 |
|
|
Prepaid expenses
on fixed assets |
2.148.002,00 |
3.995.820,00 |
2.326.044,00 |
|
|
Other assets |
842.839,00 |
861.051,00 |
875.641,00 |
|
|
Depreciation |
-47.958.346,00 |
-52.172.308,00 |
-56.292.891,00 |
|
|
IV. Financial
assets |
3.685.976,00 |
3.374.047,00 |
3.532.827,00 |
|
|
Shares in
affiliated companies |
92.175,00 |
92.175,00 |
92.175,00 |
|
|
Loans to
affiliated companies |
2.216.000,00 |
1.700.000,00 |
1.700.000,00 |
|
|
Shares in
associated companies |
1.291.126,00 |
1.291.126,00 |
1.291.126,00 |
|
|
Securities |
156.263,00 |
156.263,00 |
156.263,00 |
|
|
Other loans |
|
|
139.641,00 |
|
|
Long term
deposits and guarantees |
9.622,00 |
213.402,00 |
213.402,00 |
|
|
Provisions |
-79.210,00 |
-78.919,00 |
-59.780,00 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term
trade liabilities |
|
|
|
|
|
C) DEFERRED
EXPENSES |
636.240,00 |
594.625,00 |
495.034,00 |
|
|
D) CURRENT ASSETS |
50.143.141,00 |
50.603.066,00 |
48.637.087,00 |
|
|
I. Not paid in
shareholder capital |
|
|
|
|
|
II. Inventory |
15.789.516,00 |
15.808.826,00 |
12.354.274,00 |
|
|
Raw material
inventory |
10.670.100,00 |
9.919.549,00 |
7.461.002,00 |
|
|
Work in Progress |
84.235,00 |
395.474,00 |
200.229,00 |
|
|
Finished goods |
5.035.181,00 |
5.493.803,00 |
4.693.043,00 |
|
|
III. Debtors |
24.380.273,00 |
26.199.723,00 |
28.264.821,00 |
|
|
Clients |
22.055.039,00 |
23.429.762,00 |
24.976.085,00 |
|
|
Amounts owned by
affiliated companies |
937.453,00 |
2.018.797,00 |
2.463.513,00 |
|
|
Other debts |
24.594,00 |
131.674,00 |
15.102,00 |
|
|
Taxes refunds |
1.715.881,00 |
977.673,00 |
815.096,00 |
|
|
Provisions |
-352.694,00 |
-358.183,00 |
-4.975,00 |
|
|
IV. Short term
financial assets |
7.520.948,00 |
7.936.512,00 |
7.423.551,00 |
|
|
Receivables in
affiliated companies |
135.386,00 |
563.553,00 |
50.592,00 |
|
|
Short term
investment |
7.385.562,00 |
7.372.959,00 |
7.372.959,00 |
|
|
V. Short term
owners equity |
|
|
|
|
|
VI. Cash |
2.402.545,00 |
586.585,00 |
522.961,00 |
|
|
VII. Prepaid
expenses and accrued income |
49.859,00 |
71.420,00 |
71.480,00 |
|
|
ASSETS (A + B + C
+ D) |
88.682.250,00 |
91.429.706,00 |
89.124.419,00 |
Balance Sheet (LIABILITIES)
|
(Figures given in
Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS
EQUITY |
36.426.506,00 |
36.710.776,00 |
37.128.634,00 |
|
|
I. Capital |
6.961.113,00 |
6.961.113,00 |
6.961.113,00 |
|
|
II. Premium share
account |
2.730.158,00 |
2.730.158,00 |
2.730.158,00 |
|
|
III. Revaluation
reserve |
2.711.261,00 |
2.711.261,00 |
2.711.261,00 |
|
|
IV. Reserves |
21.943.556,00 |
23.005.865,00 |
23.290.135,00 |
|
|
Retained earnings |
1.392.251,00 |
1.392.251,00 |
1.392.251,00 |
|
|
Other funds |
20.551.165,00 |
21.613.474,00 |
21.897.744,00 |
|
|
Capital
adjustments in Euros |
140,00 |
140,00 |
140,00 |
|
|
V. Prior year
earnings |
|
|
|
|
|
VI. Prior year
profit or losses |
2.080.418,00 |
1.302.379,00 |
1.435.967,00 |
|
|
VII. Dividend
paid during the year |
|
|
|
|
|
VIII. Own shares
for change in capital |
|
|
|
|
|
B) DEFERRED
INCOME |
1.799.792,00 |
1.299.365,00 |
1.087.981,00 |
|
|
Capital grants |
1.410.636,00 |
928.239,00 |
475.515,00 |
|
|
Other deferred
income |
389.156,00 |
371.126,00 |
612.466,00 |
|
|
C) PROVISIONS FOR
LIABILITIES AND EXPENSES |
266.000,00 |
712.325,00 |
807.818,00 |
|
|
Other provisions |
266.000,00 |
712.325,00 |
807.818,00 |
|
|
D) LONG TERM
LIABILITIES |
5.157.848,00 |
9.497.985,00 |
11.212.307,00 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
3.908.364,00 |
7.915.203,00 |
9.937.132,00 |
|
|
Long term bank
loans |
3.908.364,00 |
7.915.203,00 |
9.937.132,00 |
|
|
III. Debts with
associed and affiliated companies |
|
|
|
|
|
IV. Other
creditors |
1.249.484,00 |
1.582.782,00 |
1.275.175,00 |
|
|
Other debts |
1.246.479,00 |
1.429.524,00 |
1.121.917,00 |
|
|
Long term deposit
and guaranties |
3.005,00 |
153.258,00 |
153.258,00 |
|
|
V. Deferred debts
on shares |
|
|
|
|
|
VI. Long term
debt with creditor |
|
|
|
|
|
E) SHORT TERM
LIABILITIES |
45.032.104,00 |
43.209.255,00 |
38.887.679,00 |
|
|
I. Negotiable
bonds |
|
|
|
|
|
II. Bank loans |
30.523.968,00 |
30.796.043,00 |
24.923.763,00 |
|
|
Loans and other
debts |
30.440.458,00 |
30.665.064,00 |
24.810.223,00 |
|
|
Debt interest |
83.510,00 |
130.979,00 |
113.540,00 |
|
|
III. Short term
debts with associated and affiliated companies |
511.048,00 |
225.000,00 |
83.038,00 |
|
|
With affiliated
companies |
511.048,00 |
225.000,00 |
81.872,00 |
|
|
Associeted
companies |
|
|
1.166,00 |
|
|
IV. Trade
creditors |
10.481.538,00 |
9.222.746,00 |
10.310.355,00 |
|
|
Expenses |
8.547.167,00 |
7.550.142,00 |
8.316.570,00 |
|
|
Bills payable |
1.934.371,00 |
1.672.604,00 |
1.993.785,00 |
|
|
V. Other non
trade payables |
3.515.550,00 |
2.965.466,00 |
3.570.523,00 |
|
|
Government |
1.118.228,00 |
589.533,00 |
603.909,00 |
|
|
Bills payable |
433.170,00 |
266.923,00 |
30.928,00 |
|
|
Other debts |
866.332,00 |
792.244,00 |
1.473.026,00 |
|
|
Accounts
receivable |
1.097.820,00 |
1.296.766,00 |
1.462.660,00 |
|
|
Short term
deposits and guarantees |
|
20.000,00 |
|
|
|
VI. Provisions
for current assets |
|
|
|
|
|
VII. Accruals and
deferred incomes |
|
|
|
|
|
F) SHORT TERM
PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
LIABILITIES (A +
B + C + D + E + F) |
88.682.250,00 |
91.429.706,00 |
89.124.419,00 |
Profit and Loss Account
|
(Figures given in
Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) EXPENSES (A.1
a A.16) |
|
|
|
|
|
A.1. Change in
stocks of finished goods and work in progress |
|
|
996.005,00 |
|
|
A.2. Supplies |
48.521.810,00 |
46.105.750,00 |
41.383.233,00 |
|
|
Material consumed |
477.044,00 |
664.060,00 |
|
|
|
Raw materials
consumed |
43.063.404,00 |
40.492.721,00 |
37.368.058,00 |
|
|
Other expenses |
4.981.362,00 |
4.948.969,00 |
4.015.175,00 |
|
|
A.3. Labor cost |
12.804.184,00 |
13.300.600,00 |
13.553.971,00 |
|
|
Wages |
10.179.351,00 |
10.653.523,00 |
10.897.561,00 |
|
|
Social security
expenses |
2.624.833,00 |
2.647.077,00 |
2.656.410,00 |
|
|
A.4. Assets
depreciation |
3.994.199,00 |
4.387.049,00 |
5.188.980,00 |
|
|
A.5 Variance in
provision for current assets |
121.787,00 |
5.489,00 |
|
|
|
Variance in
provision for bad debts |
121.787,00 |
5.489,00 |
|
|
|
A.6. Other
operating costs |
27.910.917,00 |
30.469.678,00 |
28.408.370,00 |
|
|
External costs |
27.694.523,00 |
30.241.490,00 |
28.076.040,00 |
|
|
Taxes |
216.394,00 |
228.188,00 |
223.231,00 |
|
|
Other day to day
expenses |
|
|
109.099,00 |
|
|
A.I. OPERATING
RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
2.827.269,00 |
2.339.203,00 |
924.039,00 |
|
|
A.7. Financial
expenses |
923.244,00 |
1.050.102,00 |
981.415,00 |
|
|
Other companies
debts |
923.244,00 |
1.050.102,00 |
981.415,00 |
|
|
A.8. Variation in
financial investments provision |
6.277,00 |
-291,00 |
-19.139,00 |
|
|
A.9. Exchange
losses |
1.043.544,00 |
307.091,00 |
388.254,00 |
|
|
A.II. POSITIVE
FINANCIAL RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
|
|
345.978,00 |
|
|
A.III. PROFIT
FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
2.217.216,00 |
2.283.967,00 |
1.270.017,00 |
|
|
A.10. Variation
in provision in fixed assets |
59.780,00 |
|
|
|
|
A.11. Losses in
fixed assets |
88,00 |
28.208,00 |
2.436,00 |
|
|
A.12. Losses from
shares and bonds |
|
|
|
|
|
A.13.
Extraordinary charges |
330.716,00 |
873.101,00 |
64.728,00 |
|
|
A.14. Prior
year’s expenses and losses |
4.401,00 |
|
14.819,00 |
|
|
A.IV. POSITIVE
EXTRAORDINARY RESULT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14) |
157.176,00 |
|
599.082,00 |
|
|
A.V. EARNINGS /
LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
2.374.392,00 |
1.865.444,00 |
1.869.099,00 |
|
|
A.15. Corporate
Taxes |
293.974,00 |
563.065,00 |
433.132,00 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END
RESULT (PROFIT) (A.V-A.15-A.16) |
2.080.418,00 |
1.302.379,00 |
1.435.967,00 |
|
|
B) INCOMES (B.1 a
B13) |
|
|
|
|
|
B.1. Turnover |
92.973.099,00 |
94.606.971,00 |
89.927.625,00 |
|
|
Sales |
93.214.427,00 |
94.606.971,00 |
89.942.486,00 |
|
|
Discounts |
-241.328,00 |
|
-14.861,00 |
|
|
B.2. Increase in
inventory of finished goods |
1.842.036,00 |
769.861,00 |
|
|
|
B.3. Expenses
capitalized |
458.904,00 |
212.719,00 |
|
|
|
B.4. Other
operating income |
906.127,00 |
1.018.218,00 |
526.973,00 |
|
|
Other incomes |
906.127,00 |
1.018.218,00 |
472.973,00 |
|
|
Grants |
|
|
54.000,00 |
|
|
B.I. OPERATING
LOSSES (A.1+A.2+A.3+A.4+A.5+A.6-B.1-B.2-B.3-B.4) |
|
|
|
|
|
B.5. Incomes from
share |
824.061,00 |
930.377,00 |
1.068.499,00 |
|
|
From other
companies |
824.061,00 |
930.377,00 |
1.068.499,00 |
|
|
B.6. Income from
securities |
114.029,00 |
107.136,00 |
102.643,00 |
|
|
Group companies |
34.097,00 |
19.747,00 |
59.548,00 |
|
|
Other companies |
79.932,00 |
87.389,00 |
43.095,00 |
|
|
B.7. Other income
from interrest |
|
32.907,00 |
51.964,00 |
|
|
From affiliated
companies |
|
32.907,00 |
51.964,00 |
|
|
B.8. Gains on
exchange |
424.922,00 |
231.246,00 |
473.402,00 |
|
|
B.II. FINANCIAL
LOSSES (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
610.053,00 |
55.236,00 |
|
|
|
B.III. LOSSES
FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from
disposal of fixed assets |
5.000,00 |
|
|
|
|
B.10. Gains from
dealing in own shares |
|
|
|
|
|
B.11. Paid in
surplus |
439.605,00 |
444.781,00 |
452.724,00 |
|
|
B.12.
Extraordinary income |
10.501,00 |
32.745,00 |
220.100,00 |
|
|
B.13. Prior
year’s income and profits |
97.055,00 |
5.260,00 |
8.241,00 |
|
|
B.IV.
EXTRAORDINARY LOSSES (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
418.523,00 |
|
|
|
B.V. LOSS BEFORE
TAXES (B.III+B.IV-A.III-A.IV) |
|
|
|
|
|
B.VI. NET LOSS
(B.V+A.15+A.16) |
|
|
|
Main Ratios
|
(Figures given in
Euros) |
2.003 (12)
|
2.004 (12)
|
2.005 (12)
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the
Sales Figures |
11,00 |
1,76 |
-4,95 |
|
|
Assets Turnover |
1,05 |
1,03 |
1,01 |
|
|
Productivity |
1,54 |
1,51 |
1,45 |
|
|
Increase of the
Added Value |
34,99 |
1,44 |
-1,82 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic
Profitability |
2,35 |
1,42 |
1,61 |
|
|
Financial
Profitability |
5,71 |
3,55 |
3,87 |
|
|
Financial Expenses |
0,99 |
1,11 |
1,09 |
|
|
BALANCE (IN DAYS
OF SALES) |
|
|
|
|
|
Customers’ Credit
(In days of sales) |
94,00 |
100,00 |
113,00 |
|
|
Suppliers’ Credit
(In days of sales) |
81,00 |
73,00 |
88,00 |
|
|
Working Capital
(In days of sales) |
20,00 |
28,00 |
39,00 |
|
|
Working Capital
Requirement (In days of sales) |
100,00 |
113,00 |
107,00 |
|
|
Treasury (In days
of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
5.111.037,00 |
7.393.811,00 |
9.749.408,00 |
|
|
Working Capital
Requirement |
25.711.512,00 |
29.666.757,00 |
26.726.659,00 |
|
|
Treasury |
-20.600.475,00 |
-22.272.946,00 |
-16.977.251,00 |
|
|
Balance Ratio |
1,13 |
1,18 |
1,24 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
56,60 |
57,65 |
56,21 |
|
|
Own / Permanent
Funds |
83,45 |
76,13 |
73,91 |
|
|
Payback Capacity |
0,52 |
0,53 |
0,53 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,11 |
1,17 |
1,25 |
|
|
Immediate
Liquidity |
0,22 |
0,20 |
0,20 |
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in
Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE
FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
0,00 |
0,00 |
0,00 |
|
FIXED
ASSETS |
44,87 |
55,90 |
-11,03 |
|
ACCRUED
EXPENSES |
0,56 |
0,11 |
0,45 |
|
CURRENT
ASSETS |
54,57 |
43,99 |
10,58 |
|
TOTAL
ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS
EQUITY |
41,66 |
38,44 |
3,22 |
|
ACCRUED
INCOME |
1,22 |
0,41 |
0,81 |
|
RISK
AND EXPENDITURE COVER |
0,91 |
1,36 |
-0,45 |
|
LONG-TERM
CREDITORS |
12,58 |
23,87 |
-11,29 |
|
SHORT-TERM
CREDITORS |
43,63 |
35,86 |
7,77 |
|
SHORT-TERM
RISK AND EXPENDITURE COVER |
0,00 |
0,05 |
-0,05 |
|
TOTAL
LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in
Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Net
turnover |
99,42 |
97,65 |
1,77 |
|
Other
operating income |
0,58 |
2,35 |
-1,77 |
|
Production
Value |
100,00 |
100,00 |
0,00 |
|
Operating
expenses |
46,85 |
53,91 |
-7,06 |
|
Other
operation expenses |
31,41 |
19,37 |
12,04 |
|
Added
value |
21,74 |
26,73 |
-4,98 |
|
Labor
cost |
14,98 |
14,91 |
0,07 |
|
Gross
Economic Result |
6,76 |
11,81 |
-5,06 |
|
Assets
depreciation |
5,74 |
4,71 |
1,03 |
|
Variation
in provision for current assets |
0,00 |
0,09 |
-0,09 |
|
Net
Economic Result |
1,02 |
7,01 |
-5,99 |
|
Financial
income |
1,88 |
1,03 |
0,84 |
|
Financial
expenses |
1,49 |
2,88 |
-1,38 |
|
Variation
in financial investment provision |
-0,02 |
0,07 |
-0,09 |
|
Ordinary
Activities Result |
1,40 |
5,09 |
-3,69 |
|
Extraordinary
income |
0,75 |
1,01 |
-0,26 |
|
Extraordinary
expenses |
0,09 |
0,54 |
-0,45 |
|
Variation
in provision in fixed assets |
0,00 |
0,19 |
-0,19 |
|
Results
before Taxes |
2,07 |
5,38 |
-3,31 |
|
Corporaye
taxes |
0,48 |
1,64 |
-1,16 |
|
Net
Result |
1,59 |
3,74 |
-2,15 |
|
Assets
depreciation |
5,74 |
4,71 |
1,03 |
|
Provisions
fund variation |
-0,02 |
0,35 |
-0,37 |
|
Net
Self-Financing |
7,30 |
8,80 |
-1,50 |
Ratios
|
(Figures given in
) |
Company |
Ptile25
|
Medium
|
Ptile75
|
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase
of the Sales Figures |
-4,95 |
-1,11 |
3,12 |
6,56 |
|
Assets
Turnover |
1,01 |
0,86 |
1,18 |
1,33 |
|
Fixed
Assets Turnover |
2,22 |
1,46 |
2,66 |
4,02 |
|
Increase
of the Added Value |
-1,82 |
-8,90 |
0,23 |
11,07 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,45 |
1,64 |
1,91 |
2,26 |
|
Change
of Personnel Costs |
1,90 |
0,54 |
5,17 |
11,98 |
|
Average
Personnel Costs |
54.215,88 |
40.886,12 |
47.656,90 |
54.800,19 |
|
Value
Added by Employees |
78.667,96 |
76.067,23 |
90.458,45 |
114.493,88 |
|
CASH FLOW |
|
|
|
|
|
Cash
Flow |
6.605.808,00 |
4.303.014,50 |
6.605.500,00 |
9.641.765,35 |
|
Operating
Cash Flow |
6.113.019,00 |
5.571.237,25 |
8.852.000,00 |
12.947.497,50 |
|
Change
in Cash Flow |
16,00 |
-22,33 |
-3,61 |
10,31 |
|
PROFITABILITY |
|
|
|
|
|
Economic
Profitability |
1,61 |
3,25 |
5,98 |
8,61 |
|
Financial
Profitability |
3,87 |
7,68 |
11,79 |
19,51 |
|
Financial
Expenses |
1,09 |
0,49 |
0,66 |
2,41 |
|
Gross
Economic Profitability |
6,86 |
9,23 |
12,70 |
16,47 |
|
Gross
Financial Profitability |
16,46 |
18,51 |
30,05 |
43,77 |
|
BALANCE (IN DAYS
OF SALES) |
|
|
|
|
|
Customers’
Credit (In days of sales) |
113,00 |
92,50 |
115,03 |
135,74 |
|
Suppliers’
Credit (In days of sales) |
87,00 |
60,14 |
104,88 |
124,99 |
|
Working
Capital (In days of sales) |
39,00 |
-19,77 |
65,07 |
114,35 |
|
Working
Capital Requirement (In days of sales) |
106,00 |
13,21 |
45,11 |
85,92 |
|
Treasury
(In days of sales) |
0,00 |
-36,47 |
-0,03 |
18,85 |
|
Operating
Current Assets |
194,00 |
147,77 |
172,20 |
211,48 |
|
BALANCE |
|
|
|
|
|
Working
Capital |
9.749.408,00 |
-2.931.000,00 |
10.521.025,00 |
15.348.799,25 |
|
Working
Capital Requirement |
26.726.659,00 |
2.006.659,50 |
9.111.000,00 |
17.000.486,30 |
|
Treasury |
-16.977.251,00 |
-5.014.000,82 |
-23.000,00 |
2.764.708,50 |
|
Balance
Ratio |
1,24 |
0,89 |
1,31 |
1,84 |
|
SOLVENCY |
|
|
|
|
|
Borrowing
Ratio |
56,21 |
38,88 |
53,51 |
76,08 |
|
Own
/ Permanent Funds |
73,91 |
48,89 |
85,62 |
94,96 |
|
Payback
Capacity |
0,53 |
0,33 |
0,42 |
0,62 |
|
Long
term Indebtedness |
12,58 |
0,72 |
9,27 |
27,82 |
|
Gearing |
240,04 |
163,60 |
215,63 |
418,16 |
|
Financing
Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets
Guarantee |
1,77 |
1,31 |
1,77 |
2,54 |
|
LIQUIDITY |
|
|
|
|
|
General
Liquidity |
1,25 |
0,88 |
1,66 |
1,91 |
|
Immediate
Liquidity |
0,20 |
0,00 |
0,06 |
0,37 |
The date
when this report was last updated is 22/11/2006.
This company was last displayed
on 17/11/2006,
it has been viewed 32 times
in the last quarter and 573 times in total .
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|