MIRA
INFORM REPORT
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Report Date : |
04.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
TARCHOMIŃSKIE ZAKŁADY FARMACEUTYCZNE "POLFA" SPÓŁKA AKCYJNA |
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Registered Office : |
Fleminga 2, 03-176 Warszawa |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1823 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of basic pharmaceutical products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
TARCHOMIŃSKIE ZAKŁADY FARMACEUTYCZNE "POLFA" SPÓŁKA AKCYJNA
FLEMINGA 2
03-176 WARSZAWA
Tel. 022/5108001
Fax. 022/5108002
http:// www.polfa-tarchomin.com.pl
E-mail: info@polfa-tarchomin.com.pl
BASIC DATA
REGONCODE 010721743
VAT: 525-00-00-564
Nationwide Court Register KRS 0000027471
Legal form: JOINT STOCK COMPANY
Status: ACTIVE
Start of activity: 1823/
Registering agency
COURT OF COMMERCE,
Type :
Date of registration: 2001/07/19
NACE code 24.41
Manufacture of basic pharmaceutical products
NACE code 24.42
Manufacture of pharmaceutical preparations
NACE code 52.31
Dispensing chemists
Export
Region EUZ
Import
Region EUZ
Import
HS/CN code 3003----
PHARMACEUTICAL PRODUCTS
Medicaments consisting of two or more constituents mixed together for therapeutic or prophylactic uses, not in measured doses or put up for retail sale (excl. goods of headings 3002, 3005 or 3006)
HS/CN code 3004----
PHARMACEUTICAL PRODUCTS
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, in measured doses or put up for retail sale (excl. goods headings 3002, 3005 or 3006)
HS/CN code 2941----
ORGANIC CHEMICALS
Antibiotics
ORGANIZATIONAL-LEGAL
DATA
Register capital:
Value : 87590000.00 PLN
Number of shares: 8759000
SHAREHOLDER
POLSKI HOLDING FARMACEUTYCZNY SPÓŁKA AKCYJNA
Identifier BYD0000596RK
KONSTANTYNOWSKA 38
95-200 PABIANICE
E-mail: phf@polfa.pabianice.com.pl
Value : 87590000.00 PLN
Quant: 8759000
SUPERVIS.BOARD:
Surname : ZIARKO
Names : ARKADIUSZ ALEKSANDER
PESEL : 56082612215
Citizenship :
Addr.:
Country code :
SUPERVIS.BOARD:
Surname : OKTABA
Names : WALDEMAR KONSTANTY
PESEL : 51121909152
Citizenship :
Addr.:
Country code :
SUPERVIS.BOARD:
Surname : REJMAN-JENDRCZAK
Names : MARCJANNA
Citizenship :
Addr.:
Country code :
SUPERVIS.BOARD:
Surname : MILEWSKI
Names : JAROSŁAW PIOTR
PESEL : 66071100795
Citizenship :
Addr.:
Country code :
SUPERVIS.BOARD:
Surname : SANECKI
Names : TOMASZ
PESEL : 74041514679
Citizenship :
Addr.:
Country code :
SUPERVIS.BOARD:
Surname : PRZYCHOCKI
Names : PAWEŁ
PESEL : 69032900056
Citizenship :
Addr.:
Country code :
MANAG.:
MEMBER OF THE BOARD
Representation : JOINTLY WITH ANOTHER MEMBER OF THE BOARD
Surname : KOMOSA
Names : MACIEJ
PESEL : 71071700159
Citizenship :
Addr.:
Country code :
MANAG.:
PROXY
Surname : BORZYM
Names : KRZYSZTOF HENRYK
PESEL : 56011908572
Citizenship :
Addr.:
Country code :
MANAG.:
MEMBER OF THE BOARD
Representation : JOINTLY WITH ANOTHER MEMBER OF THE BOARD
Surname : KUBIAK
Names : MAŁGORZATA
Citizenship :
Addr.:
Country code :
MANAG.:
PRESIDENT OF THE BOARD
Representation : JOINTLY WITH ANOTHER MEMBER OF THE BOARD
Surname : OSTROWSKA
Names : AURELIA MARIA
PESEL : 54030805502
Citizenship :
Addr.:
Country code :
SHARES IN OTHER
COMPANIES
No data
EMPLOYMENT
Total (MIN MAX) Productive(MIN MAX) Unprod.(MIN MAX) DATE FROM DATE TO
2090-2090 - - 2006/01/01-2006/12/31
2100-2100 - - 2005/01/01-2005/12/31
2100-2100 - - 2004/01/20-2004/12/31
2290-2290 - - 2003/01/01-2003/12/31
2260-2260 - - 2002/01/01-2002/12/31
2348-2348 - - 2001/01/01-2001/12/31
REAL ESTATE
Real estate: GN GROUNDS
OWN: Area from to Value
- 58431621.10 PLN
Real estate: BD BUILDINGS AND CONSTRUCTIONS
OWN: Area from to Value
- 110270417.95 PLN
SALES
Sales
2005/01/01 - 2005/12/31 308710776.88
2004/01/01 - 2004/12/31 305914790.59
2003/01/01 - 2003/12/31 300744379.00
2002/01/01 - 2002/12/31 306104821.00
2001/01/01 - 2001/12/31 316141143.00
1998/01/01 - 1998/12/31 337652250.00
1997/01/01 - 1997/12/31 366000000.00
1996/01/01 - 1996/12/31 318055800.00
FINANCIAL DATA
Financial
statement as on 2004/12/31 2005/12/31
ASSETS
A. Total non-current assets:
240155322.65 232460863.32
I.Intangible assets:
1914612.97 1377758.65
1.Costs of development activities: 1908447.37 1347161.15
2.Goodwill: 0.00 0.00
3.Other intangible fixed assets: 6165.60 30597.50
4.Prepayments for intangible
assets:
0.00 0.00
II.Fixed assets: 230703384.02 224774872.82
1.tangible fixed assets:
224785288.46 215564049.47
a)land:
58431621.10 58431621.10
b)buildings: 112997388.64 110270417.95
c)machinery and equipment:
48902632.22 41305892.01
d)vehicles: 1733911.63 3174868.97
e)other tangible fixed assets:
2719734.87 2381249.44
2.Investments in progress:
5918095.56 9173875.65
3.Investments in progress paid on
accounts: 0.00 36947.70
III.Long-term receivables:
0.00 0.00
1.From related companies:
0.00 0.00
2.From other companies:
0.00 0.00
IV.Long-term investments:
189905.00 189905.00
1.Real-estate property:
0.00 0.00
2.Intangible assets:
0.00 0.00
3.Long-term financial assets:
189905.00 189905.00
a)in related companies: 187500.00 187500.00
- shares: 187500.00 187500.00
- other commercial papers:
0.00 0.00
- provided loans: 0.00 0.00
- other long-term financial
assets:
0.00 0.00
b)in other companies: 2405.00 2405.00
- shares: 2405.00 2405.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other long-term financial
assets:
0.00 0.00
4.Other long-term investments: 0.00 0.00
V.Long-term interperiod settlements: 7347420.66 6118326.85
1.Assets from deffered income tax: 2844480.90 2690560.42
2.Others: 4502939.76 3427766.43
B. Current assets: 143068785.09 147971305.84
I.Inventory
48227008.96 53370728.35
1.Materials: 13506297.65 12347520.01
2.Semi-products and work in
progress:
13006220.01 14639542.41
3.Finished goods: 21628597.13 26328671.65
4.Products: 10466.00 18564.88
5.Advance payment for delivery:
45428.17 36429.40
II.Accounts receivable:
86305190.66 84823138.43
1.From related companies:
10349232.77 8224359.70
a)trade receivables: 10349232.77 8224359.70
- within 12 months:
10349232.77 8224359.70
- more than 12 months:
0.00 0.00
b)others: 0.00 0.00
2.From other companies:
75955957.89 76798778.73
a)trade receivables:
64884577.52 70747740.64
- within 12 months:
64884577.52 70747740.64
- more than 12 months:
0.00 0.00
b)tax and social receivables:
1842419.77 2222940.50
c)other receivables:
9228960.60 3628097.59
d)accounts receiv. result. from
disputable claims:
0.00 0.00
III.Short-term investments:
1135115.01 659049.36
1.Short-term financial assets: 1135115.01
659049.36
a)in related companies:
0.00 0.00
- shares: 0.00 0.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other short-term financial
assets: 0.00 0.00
b)in other companies:
0.00 0.00
- shares: 0.00 0.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other short-term financial
assets: 0.00 0.00
c)cash and other cash assets:
1135115.01 659049.36
- cash in hand and at bank:
1135115.01 659049.36
- other cash means:
0.00 0.00
- other cash assets:
0.00 0.00
2.Other short-term investments:
0.00 0.00
IV.Short-term interperiod settlements: 7401470.46 9118389.70
Total assets
(A+B): 383224107.74 380432169.16
LIABILITIES
A. Net worth:
260761556.12 268348392.42
I.Issued capital:
87590000.00 87590000.00
II.Outstanding but unpaid contribution for
share: 0.00 0.00
III.Entity's own capital (negative): 0.00 0.00
IV.Reserve capital: 32254587.06 17601870.60
V.Revaluation reserve:
155682991.11 155569685.52
VI.Other reserve capitals:
0.00 0.00
VII.Profit/loss brutto forward:
0.00 0.00
VIII.Net financial result for the year: -14766022.05 7586836.30
IX.Write-offs from net profit: |
0.00 0.00
B.Liabilities & reserves:
122462551.62 112083776.74
I.Reserve for liabilities: 13492511.35 11694687.80
1.Reserves for deffered income tax: 4514096.50 3869920.80
2.Reserves for retirement and
similar:
8297444.00 7824767.00
- long-term:
5696989.00 4831553.00
- short-term:
2600455.00 2993214.00
3.Other reserves: 680970.85 0.00
- long-term:
0.00 0.00
- short-term: 680970.85 0.00
II.Long-term liabilities:
2522086.80 2916768.74
1.To related companies:
0.00 0.00
2.To other companies: 252208630.00 2916768.74
a)credits and loans:
1742120.65 0.00
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)other long-term liabilities:
779966.15 2916768.74
III.Short-term liabilities:
105574167.90 96557295.20
1.To related companies:
2301.00 10326.39
a)trade payable:
2301.00 10326.39
- within 12 months: 2301.00 10326.39
- more than 12 months:
0.00 0.00
b)other:
0.00 0.00
2.To other companies:
104014419.74 95514890.77
a)bank loans: 59056897.99 56030677.09
b)commercial papers: 0.00 0.00
c)other financial liabilities:
0.00 0.00
d)trade payables:
31327713.73 28975731.13
- within 12 months:
31327713.73 28975731.13
- more than 12 months:
0.00 0.00
e)supplies paid on account: 0.00 0.00
f)notes payable:
0.00 0.00
g)tax & social securities:
4644740.85 5424672.15
h)payroll payable: 1712033.50 1770899.73
i)other short-term liabilities: 7273033.67 3312910.67
3.Special funds:
1557447.16 1032078.04
IV.Accrued liabilities:
873785.57 915025.00
1.Negative goodwill:
0.00 0.00
2.Other: 873785.57 915025.00
- long-term: 591441.53 575476.04
- short-term:
282344.04 339548.96
Total liabilties (A+B):
383224107.74 380432169.16
Financial statement as on
2002/12/31 2003/12/31
ASSETS
A. Total non-current assets: 260106327.15 254063334.92
I.Intangible assets:
5298550.52 1166320.44
1.Costs of development activities: 5252533.63 1148657.17
2.Goodwill: 0.00 0.00
3.Other intangible fixed assets: 46016.89 17663.27
4.Prepayments for intangible
assets:
0.00 0.00
II.Fixed assets: 250899822.70 245640372.83
1.tangible fixed assets:
247849023.99 238596848.61
a)land: 58526321.10 58526321.10
b)buildings: 119598435.32 116455807.04
c)machinery and equipment:
63956371.41 57528980.93
d)vehicles: 1932440.45 2566606.11
e)other tangible fixed assets:
3835455.71 3519133.43
2.Investments in progress: 3050798.71 6856993.09
3.Investments in progress paid on
accounts:
0.00 186531.13
III.Long-term receivables:
0.00 0.00
1.From related companies:
0.00 0.00
2.From other companies:
0.00 0.00
IV.Long-term investments: 194200.00 194000.00
1.Real-estate property:
0.00 0.00
2.Intangible assets:
0.00 0.00
3.Long-term financial assets:
194200.00 194000.00
a)in related companies:
187500.00 187500.00
- shares: 187500.00 187500.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other long-term financial
assets:
0.00 0.00
b)in other companies:
6700.00 6500.00
- shares: 6700.00 6500.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other long-term financial assets: 0.00 0.00
4.Other long-term investments:
0.00 0.00
V.Long-term interperiod settlements: 8440753.93 7062641.65
1.Assets from deferred income tax: 4528836.00 3214709.90
2.Others:
3911917.93 3847931.75
B. Current assets: 160635385.25
142542943.92
I.Inventory
69737274.83 58775083.48
1.Materials: 13212110.97 15091389.96
2.Semi-products and work in
progress:
30707093.58 19113215.90
3.Finished goods:
25769748.45 24467698.05
4.Products: 18447.03 45321.44
5.Advance payment for delivery:
29874.80 57458.13
II.Accounts receivable:
83554599.96 76156011.08
1.From related companies: 12603138.55 10130190.62
a)trade receivables:
12603138.55 10130190.62
- within 12 months:
12603138.55 10130190.62
- more than 12 months:
0.00 0.00
b)others: 0.00 0.00
2.From other companies: 70951461.41 61328322.71
a)trade receivables:
67475281.81 59476161.36
- within 12 months:
67475281.81 59476161.36
- more than 12 months: 0.00 0.00
b)tax and social receivables:
1969228.23 1852161.35
c)other receivables:
1506951.37 0.00
d)accounts receiv. result. from
disputable claims:
0.00 0.00
III.Short-term investments:
1319407.04 559277.02
1.Short-term financial assets:
1319407.04 559277.02
a)in related companies:
0.00
- shares: 0.00
- other commercial papers:
0.00
- provided loans: 0.00
- other short-term financial
assets:
0.00
b)in other companies:
0.00
c)cash and other cash assets: 1319407.04 559277.02
- cash in hand and at bank:
559277.02
IV.Short-term interperiod settlements: 6024103.42
7052572.34
Total assets
(A+B): 420741712.40 396606278.84
LIABILITIES
A. Net worth: 297876053.84 275622278.17
I.Issued capital:
87590000.00 87590000.00
II.Outstanding but unpaid contribution for
share: 0.00 52232078.56
III.Entity's own capital (negative): 0.00 0.00
IV.Reserve capital:
51539430.18 0.00
V.Revaluation reserve: 157243500.16 156967003.90
VI.Other reserve capitals:
0.00 0.00
VII.Profit/loss brutto forward:
-1024716.92 0.00
VIII.Net financial result for the year: 2527840.42 -21166804.29
IX.Write-offs from net
profit: |
0.00 0.00
B.Liabilities & reserves:
122865658.56 120984000.67
I.Reserve for liabilities:
18557346.55 14564914.85
1.Reserves for deffered income tax: 8053635.70 4667149.00
2.Reserves for retirement and
similar:
8222740.00 9035751.00
- long-term:
7072626.00 3844196.00
- short-term:
1150114.00 5191555.00
3.Other reserves:
2280970.85 862014.85
- long-term: 380970.85 680970.85
- short-term:
1900000.00 181044.00
II.Long-term liabilities:
459699.71 5964388.60
1.To related companies:
0.00 0.00
2.To other companies:
459699.71 5964388.60
a)credits and loans: 0.00 4990054.66
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 974333.94
d)other long-term liabilities: 459699.71 0.00
III.Short-term liabilities:
102676432.91 99382000.85
1.To related companies: 0.00 22748.03
a)trade payable:
0.00 22748.03
- within 12 months:
0.00 22748.03
- more than 12 months:
0.00 0.00
b)other:
0.00 0.00
2.To other companies:
99257454.06 96647667.83
a)bank loans: 66558135.09 57151907.14
b)commercial papers:
0.00 0.00
c)other financial liabilities: 321166.42 0.00
d)trade payables:
22125209.19 29023889.66
- within 12 months:
22125209.19 29023889.66
- more than 12 months:
0.00 0.00
e)supplies paid on account:
469171.62 614501.12
f)notes payable: 0.00 0.00
g)tax & social securities:
6883202.46 5866612.67
h)payroll payable:
2352297.68 2777551.04
i)other short-term liabilities: 548271.60 1213206.20
3.Special funds:
3418978.85 2711584.99
IV.Accrued liabilities:
1172179.39 1072696.37
Total liabilties (A+B):
420741712.40 396606278.84
Profit and loss account
(calc) 2004/12/31 2005/12/31
2004/01/01 2005/01/01
A. Net sales of goods and products:
292239125.81 304283319.49
- including to related companies 13481043.33 16123199.42
I. Net sales of products
288954610.61 302249085.55
II. Net sale of goods and materials 3284515.20 2034233.94
B. Operation expenses:
191532743.00 173190448.78
- including to related companies 6951622.12 7475476.99
I. Cost of production
188669092.24 171232071.42
II. Goods and materials at cost 2863650.76 1958377.36
C. Gross profit on sale(A-B)
100706382.81 131092870.71
D. Costs of sale 29544113.04 37821413.19
E. General administrative costs
80506441.34 75150243.89
F. Profit from sale (C-D-E)
-9344171.57 18121213.63
G. Other operation incomes
13270253.97 4175157.61
I. Profit from sale of tangible assets 0.00 307647.60
II. Grants & subsidies
1384037.71 1360921.81
III. Other 11886216.26 2506588.19
H. Other operating costs
13944920.64 9862271.99
I. Loss from sale of tangible assets 15412.07 0.00
II. Revaluation of non-financial
assets
1175030.50 3047809.58
III. Other operating costs
12754478.07 6814462.41
I. Profit from operating activity
(F+G-H) -10018838.24 12434099.25
J. Financial income 405410.81 252299.78
I. Dividends 0.00 0.00
- from subisdiaries and affiliates 0.00 0.00
II. Interest receivable
336099.96 193217.75
- from subisdiaries and affiliates 100000.00 0.00
III. Profits from investment
transfeered
100.00 0.00
IV. Revaluation of investments
0.00 0.00
V. Other 69210.85 59082.03
K. Financial costs 4956781.36 5103476.14
I. Interest payable including:
3896679.05 4669184.27
- to related companies 0.00 0.00
II. Loss from invetsments transffered 0.00 0.00
III. Revaluation of investments
0.00 0.00
IV. Other
1060102.31 434291.87
L. Profit from economic activity (I+J-K) -14570208.79 7582922.89
M. Extraordinary items (M.I - M.II) 21363.24 -9012.23
I. Extraordinary incomes
222487.38 213395.90
II.Extraordinary losses
201124.14 222408.13
N. Gross profit for the year (L+M) -14548845.55 7573910.66
O. Corporate income tax
217176.50 -94483.54
P. Other obligatory charges
0.00 81557.90
R. Net profit for the year (N-O-P)
-14766022.05 7586836.30
Profit and loss account
(calc)
2002/12/31 2003/12/31
2002/01/01 2003/01/01
A. Net sales of goods and products:
296897635.80 294867125.38
- including to related companies 15994984.91 0.00
I. Net sales of products
295205221.11 292593857.17
II. Net sale of goods and materials 1692414.69 2273268.21
B. Operation expenses:
180844010.21 208372558.80
- including to related companies 7489056.85 0.00
I. Cost of production
179377107.47 206272709.03
II. Goods and materials at cost 1466902.74 2099849.77
C. Gross profit on sale(A-B)
116053625.59 86494566.58
D. Costs of sale 23158960.19 22531239.42
E. General administrative costs
82508584.68 78499010.89
F. Profit from sale (C-D-E)
10386080.72 -14535683.73
G. Other operation incomes
6823800.47 5209949.34
I. Profit from sale of tangible assets 0.00 146666.06
II. Grants & subsidies
0.00 0.00
III. Other 6823800.47 5063283.28
H. Other operating costs
7024804.57 9757716.21
I. Loss from sale of tangible assets 71586.81 0.00
II. Revaluation of non-financial
assets
2721284.37 4042763.20
III. Other operating costs
4231933.39 5714953.01
I. Profit from operating activity
(F+G-H) 10185076.62 -19083450.60
J. Financial income 2383386.98 667305.12
I. Dividends 0.00 0.00
- from subisdiaries and affiliates 0.00 0.00
II. Interest receivable
2027791.32 454034.18
- from subisdiaries and affiliates 320000.00 0.00
III. Profits from investment
transfeered
0.00 0.00
IV. Revaluation of investments
0.00 0.00
V. Other 355595.66 213270.94
K. Financial costs 6228808.37 4846498.30
I. Interest payable including:
5315917.31 3831300.13
- to related companies 0.00 0.00
II. Loss from invetsments transffered 376996.27 628780.49
III. Revaluation of investments
0.00 0.00
IV. Other
535894.79 386417.68
L. Profit from economic activity (I+J-K) 6339655.23 -23262643.78
M. Extraordinary items (M.I - M.II) 23478.89
I. Extraordinary incomes 184229.71
II.Extraordinary losses
160750.82
N. Gross profit for the year (L+M) 6303407.24 -23239164.89
O. Corporate income tax
3123870.22 -2072360.60
P. Other obligatory charges
651696.60 0.00
R. Net profit for the year (N-O-P)
2527840.42 -21166804.29
Cash flow statement 2004/12/31
2004/01/01
A. Operating cash flow
0.00
I. Net loss
14766022.05
II. Adjustments 32767191.06
1. Depreciation 24469929.02
2. Loss on exchange rates difference 3221647.88
3. Interests/dividends
receivable/payable
3619801.08
4. Loss on investment activities 648350.71
5. Change of reserves -1072403.50
6. Change in invesntories
10548074.52
7. Change in accounts receivable -10149179.58
8. Change in short-term liabilities 11035021.89
9. Change in prepaid items
-1828053.78
10. Other items 14000.00
III.Net operating cash flow (I +/- II) 18001169.01
B.
Investment cash flow 0.00
I. Cash inflows from investment
activities
1345510.83
1.
2.
3.
a) in related companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows .00
b) in other companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows
.00
4. Other investment inflows .00
II. Cash outflows from investment
activities 9657111.23
1. Acquired intangible and tangible fixed
assets 9657111.23
2. Investments in real-estate and
intangible assets .00
3. On financial assets
.00
a) assets in related companies .00
b) assets in other companies .00
- financial assets acquired .00
- long-term loans granted .00
4. Other investment outflows .00
III. Net cash from invetsment activities -8311600.40
C.
Financial cash flow 0.00
I. Inflows from financial activity 1531768.18
1.
Net inflows from issuing shares, capital instr. 1531768.18
2. Bank credits and loans
.00
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
10645498.80
1. Own shares acquired
.00
2. Dividends and other payables to
owner .00
3. Payments, other than dividends,to
shareholders/owners 1531768.18
4. Bank credits and loan repaids 5999462.10
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable
613618.18
8. Interests 3713575.79
9. Other financial outflows 318842.73
III. Net financial cash flow -9113730.62
D. Total net cash flow (A.III +/- B.III +/- C.III) 575837.99
E. Change in cash. positions in balance .00
- including due to the foreign exchanges
difference 559277.02
F. Cash at the beginning of the year 575837.99
G. Cash at the end of the year (F +/- D) 1135115.01
- including restricted cash .00
Cash flow statement 2005/12/31
2005/01/01
A. Operating cash flow
0.00
I. Net profit 7586836.30
II. Adjustments 11133687.89
1. Depreciation 23463229.96
2. Loss on exchange rates difference 2505942.10
3. Interests/dividends
receivable/payable
4365825.13
4. Loss on investment activities 482500.36
5. Change of reserves
-1797823.55
6. Change in invesntories
-5143719.39
7. Change in accounts receivable 1482052.23
8. Change in short-term liabilities -6645739.49
9. Change in prepaid items
-446586.00
10. Other items 1155108.54
III.Net operating cash flow (I +/- II) 18720524.19
B.
Investment cash flow 0.00
I. Cash inflows from investment
activities 1843410.33
1.
2.
3.
a) in related companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans granted .00
- interests .00
- other inflows
.00
b) in other companies .00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows
.00
4. Other investment inflows 1372268.73
II. Cash outflows from investment activities 13617878.62
1. Acquired intangible and tangible fixed
assets 12711550.08
2. Investments in real-estate and
intangible assets .00
3. On financial assets .00
a) assets in related companies .00
b) assets in other companies .00
- financial assets acquired .00
- long-term loans granted .00
4. Other investment outflows 906328.54
III. Net cash from invetsment activities -11774468.29
C.
Financial cash flow 0.00
I. Inflows from financial activity 85574.95
1. Net inflows from issuing shares, capital
instr. 85574.95
2. Bank credits and loans .00
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
9927325.21
1. Own shares acquired
.00
2. Dividends and other payables to
owner 81557.90
3. Payments, other than dividends,to
shareholders/owners 85574.95
4. Bank credits and loan repaids 4684708.71
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable 1086090.39
8. Interests 4238084.01
9. Other financial outflows .00
III. Net financial cash flow -9841750.26
D. Total net cash flow (A.III +/- B.III +/- C.III) -2895694.36
E. Change in cash. positions in balance 2419628.71
- including due to the foreign exchanges
difference 1135115.01
F. Cash at the beginning of the year 476065.65
G. Cash at the end of the year (F +/- D) 659049.36
- including restricted cash .00
INDEX ANALYSE
year 2003 2004 2005
|
CURRENT RATIO (CR)
Current Assets/Current liabilities 1.4342934 1.3551495 1.5324715
QUICK RATIO (QR)
Current Assets-Inventory/Current
liabilities 0.8428876 0.8983426 0.9797352
CASH RATIO (SQR)
Cash/Current liabilities 0.0056275 0.0107518 0.0068255
STOCK TURNOVER/DAY'S SUPPLY IN INVENTORY
Inventory/Turnover x 365 days 72.7545 60.2344 60.1358
CREDITORS DAYS/DAY'S SALES IN RECEIVABLES
Current receivables/Turnover x 365 days 94.2694 107.7932 95.5749
DEBTORS DAYS/DAY'S PURCHASE IN PAYABLES
Current liabilities/Turnover x 365 days 123.020 131.860
108.796
TOTAL INDEBTNESS/DEBT RATIO
Outside capital/Equity capital x 100% 30.5% 32.0% 29.5%
LONG TERM INDEBTNESS I/LONG TERM DEBT RATIO
I
Longterm liabilities/Equity capital 0.02164 0.00967
LONG TERM INDEBTNESS II/LONG TERM DEBT RATIO
II
Longterm liab./Equity cap.+Longterm liab. x
100% 2.1% 1.0% *****
RETURN ON SALES (ROS)
Net profit/Turnover x 100% - 7.2%
- 5.1% 2.3%
RETURN ON ASSETS (ROA)
|
Net profit/Total assets x 100% - 5.3%
- 3.9% 2.0%
RETURN ON EQUITY (ROE)
Net profit/Equity capital x 100% - 7.7%
- 5.7%
LONG TERM LIABILITIES IN OUTSIDE CAPITAL
Longterm liabilities/Outside capital x
100% 0.0566169 0.0233319 0.0293219
WORKING CAPITAL
Current assets-Current liabilities 43160943.07 37494617.19
51414010.64
WORKING CAPITAL RATIO
Current assets-Current liabilities/Turnover x
100% 14.6% 12.8% 15.9%
HISTORICAL DATA
Basic data validity period: 1994/07/18 - 2001/07/19
Legal form: JOINT STOCK COMPANY
Registering agency COURT OF COMMERCE
Type : COMMERCIAL REGISTER
Number RHB 41123
Date of registration: 07/18/1994
Function history validity period: 2007/03/27 - 2007/06/19
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : PEKRÓL
Names : JANUSZ EUGENIUSZ
PESEL : 56073104132
Citizenship :
Addr.:
Country code :
Function history validity period: 2007/03/27 - 2007/07/
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : SIEKACZ
Names : ADAM
PESEL : 65063004518
Citizenship :
Addr.:
Country code :
City : ŁÓDŹ
Street : SZPITALNA 4/55
Function history validity period: 2006/07/25 - 2007/03/27
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : SANECKI
Names : TOMASZ
PESEL : 74041514679
Citizenship :
Addr.:
Country code :
Function history validity period: 2006/07/25 - 2007/07/
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : KASTERSKI
Names : RAFAŁ
PESEL : 66042906557
Citizenship :
Addr.:
Country code :
Function history validity period: 2006/07/25 - 2007/03/27
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : PIETRYGA
Names : KATARZYNA JOANNA
PESEL : 74013101205
Citizenship :
Addr.:
Country code :
Function history validity period: 2006/02/10 - 2006/07/25
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : PAWLAK
Names : KRZYSZTOF
PESEL : 50070104638
Citizenship :
Addr.:
Country code :
Function history validity period: 2005/05/20 - 2006/07/25
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : FORTAK-KARASIŃSKA
Names : KATARZYNA
PESEL : 75071406480
Citizenship :
Addr.:
Country code :
Function history validity period: 2005/01/24 - 2007/05/11
FUNCTION ACTING :
BOARD
PRESIDENT OF THE BOARD
Surname : SOBCZAK
Names : DARIUSZ
PESEL : 62010405170
Citizenship :
Addr.:
Country code :
Zip code : 00-087
City : WARSZAWA
Street : CORRAZIEGO 4 M.20
Function history validity period: 2005/01/24 - 2006/07/25
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : SZKOPOWICZ
Names : DANUTA MAŁGORZATA
PESEL : 58021606161
Citizenship :
Addr.:
Country code :
Function history validity period: 2004/05/18 - 2007/06/12
FUNCTION ACTING :
BOARD
PROXY
Surname : KAZANA
Names : PIOTR WITOLD
PESEL : 51092808096
Citizenship :
Addr.:
Country code :
Zip code : 03-188
City : WARSZAWA
Street : ŚRENIAWITÓW 7 M.40
Function history validity period: 2003/11/04 - 2007/05/11
FUNCTION ACTING :
BOARD
MEMBER OF THE BOARD
Surname : ANYSZ
Names : MARIAN JÓZEF
PESEL : 44071100090
Citizenship :
Addr.:
Country code :
Zip code : 03-184
City : WARSZAWA
Street : PŁUŻNICKA 5B
Function history validity period: 2003/07/13 - 2003/11/04
FUNCTION ACTING :
BOARD
MEMBER OF THE BOARD
Surname : GROCHALSKI
Names : BOGUSŁAW STANISŁAW
PESEL : 41072500010
Citizenship :
Addr.:
Country code :
Function history validity period: 2002/03/11 - 2005/06/21
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : BUZA
Names : ANNA
HALINA
PESEL :
49070403069
Citizenship :
Addr.:
Country code :
Function history validity period: 2002/03/11 - 2005/06/21
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
PIJANOWSKA
Names : BARBARA
CHRISTINE
PESEL :
40091403081
Citizenship :
Addr.:
Country code :
Function history validity period: 2002/03/11 - 2004/10/28
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
NIEBISZ
Names :
ELŻBIETA BOGUMIŁA
PESEL :
57011301860
Citizenship :
Addr.:
Country code :
Function history validity period: 2002/03/11 - 2006/07/25
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
KARNAFEL
Names : WALDEMAR
ANDRZEJ
PESEL :
44012700798
Citizenship :
Addr.:
Country code :
Function history validity period: 2002/03/11 - 2005/01/24
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
SZCZYLIK
Names : CEZARY
ADAM
PESEL :
52050104791
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2002/03/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : PESSEL
Names : RYSZARD
STANISŁAW
PESEL :
48102204636
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2005/06/21
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
ŻOR
Names :
ANDRZEJ
PESEL :
40091602794
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2002/03/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : SIWKO
Names :
ARKADIUSZ
PESEL :
64012802696
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2002/10/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
CZAPNIK
Names : MARIUSZ
JANUSZ
PESEL : 55042801610
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2003/07/17
FUNCTION ACTING :
BOARD
MEMBER OF THE BOARD
Surname :
BARANOWSKI
Names : JAROSŁAW WOJCIECH
PESEL :
57112801652
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2002/03/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : LISIECKA
Names :
ŁUCJA
PESEL :
59041909152
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2004/05/18
FUNCTION ACTING :
BOARD
PROXY
Surname :
DALEWSKI
Names : ANDRZEJ
ZDZISŁAW
PESEL : 48112800451
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2002/03/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
LEWANDOWSKA-DURKA
Names : ALINA
PESEL :
61071105986
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2004/12/27
FUNCTION ACTING :
BOARD
MEMBER OF THE BOARD
Surname :
SZAFRAŃSKI
Names : ADAM
TADEUSZ
PESEL :
50122005416
Citizenship :
Addr.:
Country code :
Zip code : 05-126
City :
NIEPORĘT
Street :
SIENKIEWICZA 94
Function history validity period: 2001/ - 2005/01/24
FUNCTION ACTING :
BOARD
PRESIDENT OF THE BOARD
Surname :
KLESZCZEWSKI
Names :
ANDRZEJ
PESEL :
62090402656
Citizenship :
Addr.:
Country code :
Zip code : 04-325
City :
WARSZAWA
Street : OSOWSKA 48
M.16
Function history validity period: 2001/ - 2005/01/24
FUNCTION ACTING :
BOARD
MEMBER OF THE BOARD
Surname :
SOBCZAK
Names :
DARIUSZ
PESEL : 62010405170
Citizenship :
Addr.:
Country code :
Zip code : 00-087
City :
WARSZAWA
Street : CORRAZIEGO
4 M.20
Function history validity period: 2001/ - 2002/03/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
SAMOLIŃSKI
Names :
BOLESŁAW KRZYSZTOF
PESEL :
56011304330
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2007/05/11
FUNCTION ACTING :
BOARD
PROXY
Surname : BORZYM
Names : KRZYSZTOF
HENRYK
PESEL :
56011908572
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2005/06/21
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : RYLL
Names : DOROTA
SABINA
PESEL :
53082900043
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2002/03/11
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : DURLIK
Names : MAREK
RYSZARD
PESEL :
55082400912
Citizenship :
Addr.:
Country code :
Function history validity period: 2001/ - 2005/06/21
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
KRYSIAK
Names : ANDRZEJ
KAROL
PESEL :
55042209715
Citizenship :
Addr.:
Country code :
PAYMENTS
No significant trade experience has been reported thus far
TRADE PARTNERS
PARTNER:
TREASURY MANAGEMENT SERVICES SPÓŁKA Z O.O.
Identifier CEN0186340CK
AL. JEROZOLIMSKIE 123
02-017 WARSZAWA
Tel. 022/5297630
Fax. 022/5297638
E-mail: treasury@tms.pl
PARTNER:
"UNITAL"SPÓŁKA Z O.O.
Identifier CEN0020726CK
TARCZYŃSKA 5/9 LOK.10
02-025 WARSZAWA
Tel. 022/8222585, 8222710, 8222579
Fax. 022/8222585, 8222710, 8222579
http:// www.unital.pl.pl
mobile: 39120835, 39121154
E-mail: unital@unital.pl.pl
PARTNER:
ALTKOM AKADEMIA SPÓŁKA AKCYJNA
Identifier CEN0021879CK
STAWKI 2
00-193 WARSZAWA
Tel. 022/8606060
Fax. 022/8606070
http:// www.altkom.pl
E-mail: warszawa@altkom.pl
PARTNER:
BOCCARD POLSKA SP Z O.O
Identifier KRA0007254RK
UL.LUBICZ 27
31-503 KRAKÓW
Tel. 211117
http:// www.boccard.pl
E-mail: boccard@boccard.pl
PARTNER:
PROCHEM SPÓŁKA AKCYJNA
Identifier CEN0016181CK
POWĄZKOWSKA 44C
04-041 WARSZAWA
Tel. 022/3260100
Fax. 022/3260101
http:// www.prochem.com.pl
E-mail: prochem@prochem.com.pl
PROCEDURES
Officially not available
ADDITIONAL
INFORMATION
Any other information officially not available
BANK
Name: Bank Polska Kasa Opieki S.A.
Addr.: 03-472 Warszawa ul. Brechta 3
Account num: 08124010821111000004079606
CUSTOMERS/SUPPLIERS
CLIENT
CENTRALA FARMACEUTYCZNA "CEFARM" SPÓŁKA AKCYJNA
Identifier CEN0000352CK
JANA KAZIMIERZA 16
01-248 WARSZAWA
Tel. 022/6340350...3
Fax. 022/6340353,6340359
http:// www.cefarm.com.pl
E-mail: cefarm@cefarm.com.pl
SUPPLIER
PRZEDSIĘB.PRODUKCYJNO-HANDLOWO-USŁUGOWE"CENTRUM KLIMA"SPÓŁKA Z O.O.
Identifier CEN0147854CK
INSTALATORÓW 7B
02-237 WARSZAWA
Tel. 022/7512885
Fax. 022/7512884
http:// www.centrumklima.pl
mobile: 0501021158
E-mail: office@centrumklima.pl
CONTACT WITH THE
COMPANY
When directly contacted representative of the company Ms Aurelia Ostrowska declined to present any additional data
EXCHANGE RATES
USD EUR
29.12.2006 2,9105 3,8312
30.12.2005 3,2613 3,8598
31.12.2004 2,9904 4,0790
31.12.2003 3,7405 4,7170
31.12.2002 3,8388 4,0202
31.12.2001 3,9863 3,5219
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 |
|
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)