MIRA
INFORM REPORT
|
Report Date : |
25.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
F RIVIERE S. L. |
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Registered Office : |
Calle Josep Irla, 3, 08320 El Masnou ( |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
14/10/1991 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of jewellery and related articles n.e.c. |
RATING & COMMENTS
|
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 |
Identification and
Characteristics
|
Tax Number |
B59918094 |
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NAME |
F RIVIERE S. L. |
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BUSINESS
ADDRESS |
CALLE JOSEP IRLA, 3 |
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Postcode |
08320 EL MASNOU ( |
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FORMER
ADDRESS |
TRAVESIA RONDA MISTRAL, 21 |
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Postcode |
08338 PREMIA DE DALT ( |
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TELEPHONE |
935404399 |
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FAX |
935404498 |
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LEGAL FORM |
LIMITED LIABILITY COMPANY |
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DATE FOUNDED |
14/10/1991 |
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CAPITAL |
29.810,20 Euros |
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NUMBER OF
EMPLOYEES |
4 |
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ACTIVITY |
1491100 - Jewellery |
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CNAE |
3622 - Manufacture of jewellery
and related articles n.e.c. |
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IMPORT COMPANY |
YES |
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* Characteristics of the main address |
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According to our investigations these
premises are rented used as store located in a
secondary non-commercial area . |
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Synthesis
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FINANCIAL SITUATION (Year
ending: 31/12/2005) |
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PROFITABILITY |
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Medium |
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TREASURY |
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Excellent |
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BALANCE SHEET |
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Excellent |
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DEBT |
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Medium |
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INCIDENTS |
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COMMITMENTS |
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Fulfilled with difficulties |
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INCIDENTS |
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Significant |
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PREVIOUS EXPERIENCE |
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PREVIOUS
EXPERIENCE |
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Unfavourable |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
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Prudence advised. |
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SOLVENCY RATING: |
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(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 |
752.011,06 |
554.592,50 |
588.847,12 |
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ADDED VALUE |
166.742,19 |
159.167,30 |
148.613,47 |
25,24 |
|
BUSINESS RESULT |
24.416,18 |
3.033,22 |
7.853,24 |
1,33 |
|
OWN FUNDS |
84.607,16 |
87.640,38 |
95.493,62 |
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DEBT |
325.666,19 |
201.149,51 |
223.893,65 |
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TOTAL ASSET |
410.273,35 |
288.789,89 |
319.387,27 |
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The sales of 588.847,12
Euros show a change of 6,18% compared with
2.004 . Between 2.003 and 2.004 , this change
was -26,25% . |
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Added value grew by -6,63%
compared with the previous year. Shareholders equity are 95.493,62
Euros for an indebtedness of 223.893,65 Euros . |
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The result 7.853,24
Euros means financial profitability of 8,22% and
economic profitability of 2,46% . This result means growth of
158,91% compared with the 2.004 . |
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THE FIGURES FOR THE LAST BALANCE SHEET ARE
RELEVANT: |
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SOURCE: FROM THE MERCANTILE REGISTER |
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DATE: 18/12/2006 |
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Comparative Sector
Analysis
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Company |
Sector |
Difference |
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(2.005)
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% of PRODUCTION VALUE |
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SALES |
100,00 |
99,62 |
0,38 |
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ADDED
VALUE |
25,24 |
32,94 |
-7,70 |
|
BUSINESS
RESULT |
1,33 |
2,06 |
-0,73 |
|
% OF TOTAL ASSETS |
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|
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OWN
FUNDS |
29,90 |
39,20 |
-9,30 |
|
DEBT |
70,10 |
60,80 |
9,30 |
Compared sector (CNAE): 362 - Fabricación
de monedas y medallas
Number of companies: 138
Size (Sales Figure): 0 - 2.800.000,00
Euros
The turnover of the company is 0,38%
above the mean for the sector.
The company’s added value was 25,24%
s/ the production value, and 7,70% below the mean for the sector.
The company’s business result was
1,33% of the PV, 0,73% below the mean for the sector.
The company’s own resources are 29,90%
, 9,30% below the mean for the sector.
The company’s outside resources are
70,10% , 9,30% above the mean for the sector.
Legal Actions
|
No legal incidences registered for this
company in the official source |
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CLAIM FILED AGAINST THE
ADMINISTRATION: 9 |
( First 01/09/2005,
Last 22/06/2007 ) |
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1 |
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0 |
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8 |
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AFFECTED BY: No significant elemento |
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With
the Social Security:|
Last claim filed against the
administration |
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(Figures given in Euros) |
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With the Social Security: 1 |
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Information Date |
Organization |
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31/01/2006 |
CENTRAL TREASURY FOR SOCIAL
SECURITY DIRECCION PROVINCIAL DE |
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Rest of Organisms: 8 |
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Information Date |
Organization |
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22/06/2007 |
TOWN/ CITY HALL DE |
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23/04/2007 |
TOWN/ CITY HALL DE |
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24/01/2007 |
TOWN/ CITY HALL DE |
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Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
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SOLE ADMINISTRATOR |
FIGUERA RUBIES GUSTAVO |
26/02/2003 |
Functional Managers
|
Position |
Surname and name |
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MANAGER |
FIGUERA RUBIES GUSTAVO |
Financial Links
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Shareholders |
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Company Name |
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Source |
Information Date |
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FIGUERA RUBIES GUSTAVO |
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100,00% |
OWN SOURCES |
14/12/2006 |
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Capital increase |
06/06/2007 |
307162 |
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Other statutary acts |
06/06/2007 |
307161 |
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Registration of accounts
(2005) |
08/01/2007 |
040184 |
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Registration of accounts
(2004) |
28/11/2005 |
989728 |
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Change of adress |
23/06/2005 |
284336 |
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Remarks for customer
Bank sources inform us that the company has
a correct function.
Brands, Signs and
Commercial Names
|
Prevailing Brands |
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Name: |
ATHAN |
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Kind of Brand: |
JOINT |
File: |
M2758786 |
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Request Date: |
20/02/2007 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
REGISTER REQUEST |
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Types: 14
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Total Marcas: 1
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Commercial Experience |
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SALES |
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Collection (estimated) |
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Cash sales percentage 50
% |
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Credit sales percentage
50 % |
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Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
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CAJA DE AHORROS
Y M.P. |
9294 |
PZA.MARCELINA
MONTEYS,3 C/V S.MIGUEL,45 |
MASNOU (EL) |
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BANCO BILBAO
VIZCAYA ARGENTARIA, S.A. |
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BANCO POPULAR |
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BANCO SANTANDER
CENTRAL HISPANO, S.A. |
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CAJA DE AHORROS
Y M.P. DE NAVARRA |
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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 18/12/2006
Balance Sheet
(ASSETS)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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B) FIXED ASSETS |
48.523,14 |
42.938,96 |
146.487,76 |
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I. Establishment expenses |
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II. Intangible assets |
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III. Tangible assets |
48.523,14 |
42.938,96 |
146.487,76 |
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IV. Financial assets |
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V. Owners equity |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
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D) CURRENT ASSETS |
361.750,21 |
245.850,93 |
172.899,51 |
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I. Not paid in shareholder capital |
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II. Inventory |
300.068,21 |
93.414,45 |
40.180,21 |
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III. Debtors |
48.217,24 |
25.994,52 |
20.420,50 |
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IV. Short term financial assets |
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V. Short term owners equity |
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VI. Cash |
13.464,76 |
126.441,96 |
112.298,80 |
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VII. Prepaid expenses and accrued income |
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ASSETS (A + B + C + D) |
410.273,35 |
288.789,89 |
319.387,27 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
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A) SHAREHOLDERS EQUITY |
84.607,16 |
87.640,38 |
95.493,62 |
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I. Capital |
29.810,20 |
29.810,20 |
29.810,20 |
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II. Premium share account |
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III. Revaluation reserve |
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|
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IV. Reserves |
36.811,47 |
54.796,96 |
57.830,18 |
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Sundry reserves |
36.811,47 |
54.796,96 |
57.830,18 |
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V. Prior year earnings |
-6.430,69 |
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VI. Prior year profit or losses |
24.416,18 |
3.033,22 |
7.853,24 |
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VII. Dividend paid during the year |
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VIII. Own shares for change in capital |
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B) DEFERRED INCOME |
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C) PROVISIONS FOR LIABILITIES AND EXPENSES |
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D) LONG TERM LIABILITIES |
131.537,54 |
117.531,28 |
98.472,53 |
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E) SHORT TERM LIABILITIES |
194.128,65 |
83.618,23 |
125.421,12 |
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F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
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|
|
|
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LIABILITIES (A + B + C + D + E + F) |
410.273,35 |
288.789,89 |
319.387,27 |
Profit and Loss
Account
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
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|
A) EXPENSES (A.1 a A.15) |
727.594,88 |
822.014,28 |
580.993,88 |
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A.1 Operating Expenses |
528.627,66 |
338.214,00 |
373.709,44 |
|
|
A.3. Labor cost |
88.822,08 |
114.035,66 |
91.522,15 |
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Wages |
76.188,29 |
95.160,54 |
79.676,32 |
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|
Social security expenses |
12.633,79 |
18.875,12 |
11.845,83 |
|
|
A.3. Assets depreciation |
5.584,18 |
5.584,18 |
6.451,20 |
|
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A.4. Variance in provision for current
assets |
|
|
|
|
|
A.5. Other operating costs |
56.641,21 |
57.211,20 |
66.524,21 |
|
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A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
72.335,93 |
39.547,46 |
50.640,12 |
|
|
A.6. Financial expenses |
40.211,69 |
35.214,29 |
39.421,20 |
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Other companies debts |
40.211,69 |
35.214,29 |
39.421,20 |
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A.7. Variation in financial investments
provision |
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|
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A.8. Exchange losses |
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|
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A.II. POSITIVE FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8) |
|
|
|
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A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
32.124,24 |
4.333,17 |
11.218,92 |
|
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A.9. Variation in provision in fixed
assets |
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A.10. Losses in fixed assets |
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|
|
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A.11. Losses from shares and bonds |
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|
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A.12. Extraordinary charges |
|
270.455,00 |
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A.13. Prior year’s expenses and losses |
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A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
|
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A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
32.124,24 |
4.333,17 |
11.218,92 |
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A.14. Corporate Taxes |
7.708,06 |
1.299,95 |
3.365,68 |
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A.15. Other taxes |
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A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
24.416,18 |
3.033,22 |
7.853,24 |
|
|
B) INCOMES (B.1 a B.8) |
752.011,06 |
825.047,50 |
588.847,12 |
|
|
B.1. Operating income |
752.011,06 |
554.592,50 |
588.847,12 |
|
|
Turnover |
752.011,06 |
554.592,50 |
588.847,12 |
|
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B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
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B.2. Financial Income |
|
|
|
|
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B.3. Gains on exchange |
|
|
|
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B.II. FINANCIAL LOSSES
(A.6+A.7+A.8-B.2-B.3) |
40.211,69 |
35.214,29 |
39.421,20 |
|
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B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
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|
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B.4. Gains from disposal of fixed assets |
|
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B.5. Gains from dealing in own shares |
|
|
|
|
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B.6. Paid in surplus |
|
|
|
|
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B.7. Extraordinary income |
|
270.455,00 |
|
|
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B.8. Prior year’s income and profits |
|
|
|
|
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B.IV. EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
|
|
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B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
|
|
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B.VI. NET LOSS (B.V+A.14+A.15) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
91,99 |
-26,25 |
6,18 |
|
|
Assets Turnover |
1,83 |
1,92 |
1,84 |
|
|
Productivity |
1,88 |
1,40 |
1,62 |
|
|
Increase of the Added Value |
31,27 |
-4,54 |
-6,63 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
5,95 |
1,05 |
2,46 |
|
|
Financial Profitability |
28,86 |
3,46 |
8,22 |
|
|
Financial Expenses |
5,35 |
6,35 |
6,70 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
23,00 |
17,00 |
12,00 |
|
|
Suppliers’ Credit (In days of sales) |
|
|
|
|
|
Working Capital (In days of sales) |
80,00 |
105,00 |
29,00 |
|
|
Working Capital Requirement (In days of
sales) |
74,00 |
23,00 |
0,00 |
|
|
Treasury (In days of sales) |
6,00 |
82,00 |
69,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
167.621,56 |
162.232,70 |
47.478,39 |
|
|
Working Capital Requirement |
154.156,80 |
35.790,74 |
-64.820,41 |
|
|
Treasury |
13.464,76 |
126.441,96 |
112.298,80 |
|
|
Balance Ratio |
4,45 |
4,78 |
1,32 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
79,38 |
69,65 |
70,10 |
|
|
Own / Permanent Funds |
39,14 |
42,72 |
49,23 |
|
|
Payback Capacity |
0,43 |
0,36 |
0,38 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,86 |
2,94 |
1,38 |
|
|
Immediate Liquidity |
0,07 |
1,51 |
0,90 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,09 |
-0,09 |
|
FIXED ASSETS |
45,87 |
28,04 |
17,83 |
|
ACCRUED EXPENSES |
0,00 |
0,68 |
-0,68 |
|
CURRENT ASSETS |
54,13 |
71,18 |
-17,05 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
29,90 |
39,20 |
-9,30 |
|
ACCRUED INCOME |
0,00 |
0,27 |
-0,27 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,00 |
0,00 |
|
LONG-TERM CREDITORS |
30,83 |
14,26 |
16,57 |
|
SHORT-TERM CREDITORS |
39,27 |
46,26 |
-6,99 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,00 |
0,00 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of
Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Net turnover |
100,00 |
99,62 |
0,38 |
|
Other operating income |
0,00 |
0,38 |
-0,38 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
63,46 |
54,52 |
8,95 |
|
Other operation expenses |
11,30 |
12,54 |
-1,25 |
|
Added value |
25,24 |
32,94 |
-7,70 |
|
Labor cost |
15,54 |
26,45 |
-10,91 |
|
Gross Economic Result |
9,70 |
6,49 |
3,21 |
|
Assets depreciation |
1,10 |
1,95 |
-0,85 |
|
Variation in provision
for current assets |
0,00 |
0,15 |
-0,15 |
|
Net Economic Result |
8,60 |
4,39 |
4,21 |
|
Financial income |
0,00 |
0,32 |
-0,32 |
|
Financial expenses |
6,69 |
2,06 |
4,63 |
|
Variation in financial
investment provision |
0,00 |
0,00 |
-0,00 |
|
Ordinary Activities
Result |
1,91 |
2,64 |
-0,73 |
|
Extraordinary income |
0,00 |
0,91 |
-0,91 |
|
Extraordinary expenses |
0,00 |
0,66 |
-0,66 |
|
Variation in provision
in fixed assets |
0,00 |
0,03 |
-0,03 |
|
Results before Taxes |
1,91 |
2,85 |
-0,94 |
|
Corporaye taxes |
0,57 |
0,79 |
-0,22 |
|
Net Result |
1,33 |
2,06 |
-0,73 |
|
Assets depreciation |
1,10 |
1,95 |
-0,85 |
|
Provisions fund
variation |
0,00 |
0,18 |
-0,18 |
|
Net Self-Financing |
2,43 |
4,19 |
-1,76 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
6,18 |
-7,25 |
4,68 |
15,18 |
|
Assets Turnover |
1,84 |
0,76 |
1,17 |
1,65 |
|
Fixed Assets Turnover |
4,02 |
2,37 |
6,08 |
16,05 |
|
Increase of the Added
Value |
-6,63 |
-4,54 |
4,36 |
13,82 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,62 |
1,13 |
1,26 |
1,40 |
|
Change of Personnel
Costs |
-19,74 |
-1,28 |
3,45 |
13,26 |
|
Average Personnel Costs |
18.304,43 |
16.158,95 |
19.617,81 |
23.635,70 |
|
Value Added by Employees |
29.722,69 |
20.079,73 |
24.878,70 |
31.759,41 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
14.304,44 |
8.594,91 |
20.624,00 |
43.212,59 |
|
Operating Cash Flow |
57.091,32 |
13.519,38 |
35.011,74 |
65.973,50 |
|
Change in Cash Flow |
66,00 |
-28,27 |
3,10 |
18,85 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
2,46 |
0,59 |
1,88 |
4,49 |
|
Financial Profitability |
8,22 |
2,17 |
5,61 |
13,93 |
|
Financial Expenses |
6,70 |
0,53 |
1,68 |
3,16 |
|
Gross Economic
Profitability |
17,88 |
4,08 |
7,31 |
12,28 |
|
Gross Financial
Profitability |
59,78 |
10,25 |
24,83 |
43,31 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
12,00 |
41,68 |
76,52 |
125,53 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
29,00 |
20,67 |
60,33 |
146,71 |
|
Working Capital Requirement
(In days of sales) |
0,00 |
-10,86 |
37,17 |
82,92 |
|
Treasury (In days of
sales) |
68,00 |
5,51 |
18,34 |
41,58 |
|
Operating Current Assets |
105,00 |
134,70 |
219,53 |
325,98 |
|
BALANCE |
|
|
|
|
|
Working Capital |
47.478,39 |
17.721,42 |
75.358,08 |
240.759,30 |
|
Working Capital
Requirement |
-64.820,41 |
-4.402,76 |
42.425,02 |
183.413,63 |
|
Treasury |
112.298,80 |
7.412,62 |
21.152,76 |
51.956,82 |
|
Balance Ratio |
1,32 |
1,25 |
1,91 |
6,14 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
70,10 |
46,02 |
65,26 |
81,80 |
|
Own / Permanent Funds |
49,23 |
50,24 |
82,86 |
100,00 |
|
Payback Capacity |
0,38 |
0,26 |
0,49 |
0,83 |
|
Long term Indebtedness |
30,83 |
0,00 |
6,46 |
24,48 |
|
Gearing |
334,46 |
185,28 |
287,89 |
549,59 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,43 |
1,20 |
1,48 |
2,15 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,38 |
1,16 |
1,49 |
2,23 |
|
Immediate Liquidity |
0,90 |
0,04 |
0,12 |
0,47 |
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. |
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%)