MIRA
INFORM REPORT
|
Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
TELSTAR SA |
|
|
|
|
Registered Office : |
Calle Josep Tapiolas, 120, 08226 Terrassa ( |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
17/05/1963 |
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|
Legal Form : |
Joint Stock Company |
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Line of Business : |
Management activities of holding companies |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
Identification and
Characteristics
|
Tax Number |
A08182206 |
|
NAME |
TELSTAR SA |
|
BUSINESS
ADDRESS |
CALLE JOSEP TAPIOLAS, 120 |
|
Postcode |
08226 TERRASSA ( |
|
URL |
http://www.telstar.es |
|
TELEPHONE |
937361600 |
|
FAX |
937859342 |
|
LEGAL FORM |
JOINT STOCK COMPANY |
|
DATE FOUNDED |
17/05/1963 |
|
CAPITAL |
700.000,00 Euros |
|
PAID-UP CAPITAL |
700.000,00 Euros |
|
NUMBER OF
EMPLOYEES |
20 |
|
ACTIVITY |
1842200 - Holding |
|
CNAE |
7415 - Management activities of
holding companies |
|
EXPORT COMPANY |
YES |
|
* Characteristics of the main address |
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|
According to our investigations these premises are rented used as office, factory located in a secondary park of industries . |
|
Synthesis
|
FINANCIAL SITUATION (Year
ending: 31/12/2005) |
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|
|
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PROFITABILITY |
|
Excellent |
|
TREASURY |
|
Excellent |
|
BALANCE SHEET |
|
Excellent |
|
DEBT |
|
Very low |
Synthesis
|
HOLDING COMPANY WITH NO COMMERCIAL
ACTIVITY. |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Estimate 2.006
(12) |
|
|
SALES |
1.479.232,63 |
1.796.629,00 |
1.976.291,88 |
|
|
ADDED VALUE |
930.997,89 |
486.445,00 |
|
|
|
BUSINESS RESULT |
1.657.076,70 |
2.386.829,00 |
|
|
|
OWN FUNDS |
12.702.850,87 |
15.089.681,00 |
|
|
|
DEBT |
8.027.895,26 |
6.955.560,00 |
|
|
|
TOTAL ASSET |
20.993.136,17 |
22.366.296,00 |
|
|
|
The sales of 1.796.629,00
Euros show a change of 21,46% compared with
2.004 . |
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|
Added value grew by -47,75%
compared with the previous year. Shareholders equity are 15.089.681,00
Euros for an indebtedness of 6.955.560,00 Euros
. |
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|
The result 2.386.829,00
Euros means financial profitability of 15,82% and
economic profitability of 10,67% . This result means growth of
44,04% 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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Results Distribution |
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Annual Report Year Source: 2.004 |
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Figures given in Euros |
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Distribution Base |
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Profit and Loss |
1.657.077 |
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|
Total of Amounts to be
distributed |
1.657.077 |
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Distribution a |
||||
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Voluntary Reserve |
1.657.077 |
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Auditors’ opinion: |
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|
FAVOURABLE (2.003) |
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Auditors: |
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CORTES PEREZ Y CIA AUDITORES SL |
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Comparative Sector
Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
90,50 |
97,23 |
-6,73 |
|
ADDED
VALUE |
24,50 |
57,08 |
-32,58 |
|
BUSINESS
RESULT |
120,23 |
11,74 |
108,49 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
67,47 |
72,48 |
-5,01 |
|
DEBT |
31,10 |
27,52 |
3,58 |
Compared sector (CNAE): 741 - Actividades
jurídicas, de contabilidad, teneduría de libros, auditoría, asesoría fiscal,
estudios de mercado y realización de encuestas de opinión pública; consulta y
asesoramiento sobre dirección y gestión empresarial, gestión de sociedades de
cartera
Number of companies: 8.044
Size (Sales Figure): 0 - 2.800.000,00
Euros
The turnover of the company is 6,73%
below the mean for the sector.
The company’s added value was 24,50%
s/ the production value, and 32,58% below the mean for the sector.
The company’s business result was
120,23% of the PV, 108,49% above the mean for the sector.
The company’s own resources are 67,47%
, 5,01% below the mean for the sector.
The company’s outside resources are
31,10% , 3,58% above 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:
2 Company / Companies in Insolvency Proceedings
Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
CHAIRMAN |
CAPELLA ARMENGOL RAMON |
24/11/2006 |
|
CHAIRMAN |
CAPELLA GALI ANTONI |
24/11/2006 |
|
BOARD MEMBER |
AURICA XXI SCR SA |
10/03/2005 |
|
BOARD MEMBER |
SUNOL TREPAT RAFAEL |
10/03/2005 |
|
BOARD MEMBER |
BUSINESS DEVELOPMENT CONSULTING GROUP SL |
19/05/2005 |
|
BOARD MEMBER |
TELSTAR INDUSTRIAS E INVERSIONES SL REPR
143 RRM CAPELLA GALI RAMON |
12/01/2006 |
|
AUDITOR |
ERNST AND YOUNG S L |
08/03/2007 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
ROVIRA BALAGUE PEDRO |
|
FINANCIAL MANAGER |
ROVIRA BALAGUE PEDRO |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
TELSTAR
INDUSTRIAS E INVERSIONES S.L. |
B63961767 |
74,00% |
OWN SOURCES |
30/07/2007 |
|
AURICA XXI
SOCIEDAD DE CAPITAL RIESGO DE REGIMEN SIMPLIFICADO SA |
A62365960 |
20,00% |
OWN SOURCES |
30/07/2007 |
|
CAPELLA GALI ANTONI |
|
Indet. |
OWN SOURCES |
30/07/2007 |
|
CAPELLA GALI |
|
Indet. |
OWN SOURCES |
30/07/2007 |
|
CAPELLA GALI CECILIA |
|
Indet. |
OWN SOURCES |
30/07/2007 |
|
CAPELLA GALI RAMON |
|
Indet. |
OWN SOURCES |
30/07/2007 |
|
Shareholdings |
|||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
|
TELSTAR INDUSTRIAL S.L. |
B62027602 |
100,00% |
OWN SOURCES |
23/03/2007 |
|
|
|
B63124788 |
100,00% |
B.O.R.M.E. |
20/07/2006 |
|
|
APPLIED CONTAINMENT ENGINEERING |
REINO UNIDO |
100,00% |
EXPANSIÓN |
18/07/2007 |
|
|
LUWA |
PAÍSES BAJOS |
100,00% |
VANGUARDIA |
09/06/2006 |
|
|
TELSTAR INTERNATIONAL LTD |
|
100,00% |
ANNUAL REP. |
31/12/2005 |
|
|
TELSTAR INSTRUMAT SL |
B60343977 |
88,81% |
OWN SOURCES |
24/05/2007 |
|
|
|
Company with solvency rating
below 7 |
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TELSTAR TECNOLOGIA MECANICA SL.
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Resignations |
08/03/2007 |
137941 |
|
|
Appointments |
08/03/2007 |
137941 |
|
|
Registration of accounts
(2005) |
26/02/2007 |
121861 |
|
|
Registration of accounts
(2005) Consolidated |
26/02/2007 |
117176 |
|
|
Change of statutes |
24/11/2006 |
563244 |
|
Remarks for customer
ABOUT YOUR REQUEST:
The correct Company Address is C/ Josep
Tapiolas, 120 08226 Terrassa,
In spite of investigations using every source
available (public and private), no additional details than those contained in
this report are available.
Brands, Signs and
Commercial Names
|
Prevailing Brands |
|||||
|
Name: |
TTM |
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|
Kind of Brand: |
JOINT |
File: |
M2558232 |
||
|
Request Date: |
19/09/2003 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 42 |
|
||||
|
Name: |
VEECO |
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|
Kind of Brand: |
DENOMINATIVE |
File: |
M2488073 |
||
|
Request Date: |
08/07/2002 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 9
|
|
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Total Marcas: 2
Branches
|
Address |
Postal Code |
Town |
Province |
|
SANTIBAŃEZ DE BEJAR 3 |
28042 |
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|
|
Commercial Experience |
|
|
|
SALES |
|
Export Percentage: 60% |
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Exports::
|
|
ASIA, LATINOAMERICA Y NORTE DE |
|
Suppliers |
International |
|
GRUPO TELSTAR INDUSTRIAL SL |
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|
TELSTAR INDUSTRIAL SL |
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|
TELSTAR INSTRUMAT SL |
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|
|
|
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Total 3 |
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|
|
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Clients |
International |
|
SOCIEDAD DE VALIDACION DE SISTEMAS SL |
|
|
TELSTAR INTERNATIONAL LTD |
|
|
TELSTAR PROJECTS SA |
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|
TELSTAR INTERNATIONAL LTD |
|
|
TELSTAR PROJECTS SA |
|
|
Total 10 |
|
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO DE
SABADELL, S.A. |
5098 |
C NOU DE SANT
PERE 000039 |
TERRASSA |
|
|
BANCO BILBAO
VIZCAYA ARGENTARIA, S.A. |
|
|
|
|
|
BANCO SANTANDER
CENTRAL HISPANO, S.A. |
|
|
|
|
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 28/02/2007
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 |
11.052.018,24 |
8.671.979,45 |
10.181.089,00 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
13.027,85 |
18.943,28 |
15.444,00 |
|
|
III. Tangible assets |
36.244,73 |
64.969,13 |
62.910,00 |
|
|
IV. Financial assets |
11.002.745,66 |
8.588.067,04 |
10.102.735,00 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
6.045.445,25 |
12.321.156,72 |
12.185.207,00 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
|
|
|
|
|
III. Debtors |
1.262.324,20 |
1.090.958,77 |
1.241.532,00 |
|
|
IV. Short term financial assets |
3.966.489,21 |
8.357.924,94 |
10.783.395,00 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
804.550,61 |
2.852.172,91 |
156.826,00 |
|
|
VII. Prepaid expenses and accrued income |
12.081,23 |
20.100,10 |
3.454,00 |
|
|
ASSETS (A + B + C + D) |
17.097.463,49 |
20.993.136,17 |
22.366.296,00 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
11.045.774,17 |
12.702.850,87 |
15.089.681,00 |
|
|
I. Capital |
700.000,00 |
700.000,00 |
700.000,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
9.058.391,69 |
10.345.774,17 |
12.002.852,00 |
|
|
Capital adjustments in Euros |
7,69 |
7,69 |
|
|
|
Sundry reserves |
9.058.384,00 |
10.345.766,48 |
12.002.852,00 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
1.287.382,48 |
1.657.076,70 |
2.386.829,00 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
467.978,48 |
262.390,04 |
321.055,00 |
|
|
D) LONG TERM LIABILITIES |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
5.583.710,84 |
8.027.895,26 |
6.955.560,00 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
17.097.463,49 |
20.993.136,17 |
22.366.296,00 |
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.15) |
2.318.244,94 |
2.754.474,91 |
3.931.562,00 |
|
|
A.1 Operating Expenses |
45.354,79 |
933,18 |
1.719,00 |
|
|
A.3. Labor cost |
1.120.489,75 |
1.441.246,88 |
1.136.600,00 |
|
|
Wages |
893.756,05 |
1.273.014,22 |
797.952,00 |
|
|
Social security expenses |
226.733,70 |
168.232,66 |
338.648,00 |
|
|
A.3. Assets depreciation |
19.444,40 |
30.799,63 |
36.149,00 |
|
|
A.4. Variance in provision for current
assets |
-1.045,74 |
|
2,00 |
|
|
A.5. Other
operating costs |
643.723,61 |
640.234,46 |
1.497.108,00 |
|
|
A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
|
|
|
|
|
A.6. Financial
expenses |
108.140,21 |
105.067,56 |
90.998,00 |
|
|
Debts with
related companies |
106.443,32 |
68.756,10 |
90.998,00 |
|
|
Other companies
debts |
1.696,89 |
36.311,46 |
|
|
|
A.7. Variation
in financial investments provision |
|
|
300.000,00 |
|
|
A.8. Exchange
losses |
182.487,92 |
28.662,63 |
|
|
|
A.II. POSITIVE
FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8) |
1.735.622,46 |
2.618.771,86 |
3.561.616,00 |
|
|
A.III. PROFIT FROM
ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
1.253.065,68 |
2.077.723,24 |
2.875.310,00 |
|
|
A.9. Variation
in provision in fixed assets |
110.012,09 |
484.773,49 |
934.846,00 |
|
|
A.10. Losses in
fixed assets |
|
607,70 |
|
|
|
A.11. Losses from
shares and bonds |
|
|
|
|
|
A.12.
Extraordinary charges |
4.139,96 |
41,23 |
10.069,00 |
|
|
A.13. Prior
year’s expenses and losses |
68.070,71 |
59.284,61 |
114.554,00 |
|
|
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) |
51.744,04 |
|
|
|
|
A.V. EARNINGS /
LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
1.304.809,72 |
1.619.900,24 |
2.196.346,00 |
|
|
A.14. Corporate
Taxes |
17.427,24 |
-37.176,46 |
-190.483,00 |
|
|
A.15. Other
taxes |
|
|
|
|
|
A.VI. YEAR END
RESULT (PROFIT) (A.V-A.14-A.15) |
1.287.382,48 |
1.657.076,70 |
2.386.829,00 |
|
|
B) INCOMES (B.1
a B.8) |
3.605.627,42 |
4.411.551,61 |
6.318.391,00 |
|
|
B.1. Operating
income |
1.345.410,03 |
1.572.165,53 |
1.985.272,00 |
|
|
Turnover |
1.166.650,00 |
1.479.232,63 |
1.796.629,00 |
|
|
Other operating
income |
178.760,03 |
92.932,90 |
188.643,00 |
|
|
B.I. OPERATING
LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
482.556,78 |
541.048,62 |
686.306,00 |
|
|
B.2. Financial
Income |
2.026.250,59 |
2.752.502,05 |
3.952.614,00 |
|
|
In affiliated
companies |
1.884.786,69 |
2.049.198,38 |
3.929.117,00 |
|
|
Other |
141.463,90 |
703.303,67 |
22.909,00 |
|
|
Gains from
investments |
|
|
588,00 |
|
|
B.3. Gains on
exchange |
|
|
|
|
|
B.II. FINANCIAL
LOSSES (A.6+A.7+A.8-B.2-B.3) |
|
|
|
|
|
B.III. LOSSES
FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.4. Gains from
disposal of fixed assets |
|
2.935,01 |
|
|
|
B.5. Gains from
dealing in own shares |
|
|
|
|
|
B.6. Paid in
surplus |
|
|
|
|
|
B.7.
Extraordinary income |
2.064,03 |
2,34 |
1,00 |
|
|
B.8. Prior
year’s income and profits |
231.902,77 |
83.946,68 |
380.504,00 |
|
|
B.IV. EXTRAORDINARY
LOSSES (A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
457.823,00 |
678.964,00 |
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
|
|
|
|
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 |
-6,50 |
26,79 |
21,46 |
|
|
Assets Turnover |
0,07 |
0,07 |
0,08 |
|
|
Productivity |
0,59 |
0,65 |
0,43 |
|
|
Increase of the Added Value |
-25,92 |
41,85 |
-47,75 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
7,53 |
7,89 |
10,67 |
|
|
Financial Profitability |
11,66 |
13,05 |
15,82 |
|
|
Financial Expenses |
9,27 |
7,10 |
5,07 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
390,00 |
266,00 |
249,00 |
|
|
Suppliers’ Credit (In days of sales) |
|
|
|
|
|
Working Capital (In days of sales) |
142,00 |
1.045,00 |
1.048,00 |
|
|
Working Capital Requirement (In days of
sales) |
0,00 |
0,00 |
0,00 |
|
|
Treasury (In days of sales) |
1.472,00 |
2.728,00 |
2.192,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
461.734,41 |
4.293.261,46 |
5.229.647,00 |
|
|
Working Capital Requirement |
-4.309.305,41 |
-6.916.836,39 |
-5.710.574,00 |
|
|
Treasury |
4.771.039,82 |
11.210.097,85 |
10.940.221,00 |
|
|
Balance Ratio |
1,04 |
1,50 |
1,51 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
32,66 |
38,24 |
31,10 |
|
|
Own / Permanent Funds |
95,94 |
97,98 |
97,92 |
|
|
Payback Capacity |
4,31 |
4,02 |
2,27 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,08 |
1,54 |
1,75 |
|
|
Immediate Liquidity |
0,85 |
1,40 |
1,57 |
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 |
0,08 |
-0,08 |
|
FIXED ASSETS |
45,52 |
76,68 |
-31,16 |
|
ACCRUED EXPENSES |
0,00 |
0,26 |
-0,26 |
|
CURRENT ASSETS |
54,48 |
22,98 |
31,50 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
67,47 |
72,48 |
-5,01 |
|
ACCRUED INCOME |
0,00 |
0,06 |
-0,06 |
|
RISK AND EXPENDITURE
COVER |
1,44 |
0,05 |
1,39 |
|
LONG-TERM CREDITORS |
0,00 |
11,13 |
-11,13 |
|
SHORT-TERM CREDITORS |
31,10 |
16,26 |
14,84 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,02 |
-0,02 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of
Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Net turnover |
90,50 |
97,23 |
-6,73 |
|
Other operating income |
9,50 |
2,77 |
6,73 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
0,09 |
9,50 |
-9,42 |
|
Other operation expenses |
75,41 |
33,42 |
41,99 |
|
Added value |
24,50 |
57,08 |
-32,57 |
|
Labor cost |
57,25 |
42,10 |
15,15 |
|
Gross Economic Result |
-32,75 |
14,98 |
-47,73 |
|
Assets depreciation |
1,82 |
3,93 |
-2,11 |
|
Variation in provision
for current assets |
0,00 |
0,33 |
-0,33 |
|
Net Economic Result |
-34,57 |
10,71 |
-45,28 |
|
Financial income |
199,10 |
5,19 |
193,90 |
|
Financial expenses |
19,69 |
1,38 |
18,32 |
|
Variation in financial
investment provision |
15,11 |
-0,01 |
15,12 |
|
Ordinary Activities
Result |
144,83 |
14,54 |
130,29 |
|
Extraordinary income |
19,17 |
1,08 |
18,09 |
|
Extraordinary expenses |
6,28 |
0,56 |
5,71 |
|
Variation in provision
in fixed assets |
47,09 |
0,26 |
46,83 |
|
Results before Taxes |
110,63 |
14,79 |
95,84 |
|
Corporaye taxes |
-9,59 |
3,05 |
-12,65 |
|
Net Result |
120,23 |
11,74 |
108,49 |
|
Assets depreciation |
1,82 |
3,93 |
-2,11 |
|
Provisions fund
variation |
62,20 |
0,59 |
61,61 |
|
Net Self-Financing |
184,25 |
16,26 |
167,99 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
21,46 |
-2,13 |
5,64 |
14,41 |
|
Assets Turnover |
0,08 |
0,57 |
1,26 |
2,21 |
|
Fixed Assets Turnover |
0,18 |
0,96 |
3,47 |
10,10 |
|
Increase of the Added
Value |
-47,75 |
-5,72 |
4,60 |
15,29 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
0,43 |
1,11 |
1,25 |
1,56 |
|
Change of Personnel
Costs |
-21,14 |
0,04 |
7,78 |
19,49 |
|
Average Personnel Costs |
56.830,00 |
13.606,61 |
20.449,78 |
27.859,59 |
|
Value Added by Employees |
24.322,25 |
18.359,62 |
27.554,49 |
39.748,03 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
3.657.826,00 |
5.915,31 |
16.706,43 |
44.637,57 |
|
Operating Cash Flow |
-650.155,00 |
6.741,25 |
19.847,52 |
52.283,57 |
|
Change in Cash Flow |
68,36 |
-31,76 |
-4,57 |
21,26 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
10,67 |
1,36 |
4,81 |
11,45 |
|
Financial Profitability |
15,82 |
4,32 |
13,41 |
28,05 |
|
Financial Expenses |
5,06 |
0,01 |
0,36 |
1,54 |
|
Gross Economic
Profitability |
-2,91 |
6,37 |
13,52 |
24,43 |
|
Gross Financial
Profitability |
-4,31 |
17,11 |
38,07 |
70,53 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
248,00 |
17,17 |
49,83 |
111,84 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
1.047,00 |
-12,76 |
35,36 |
104,39 |
|
Working Capital
Requirement (In days of sales) |
0,00 |
-87,88 |
-26,89 |
17,13 |
|
Treasury (In days of
sales) |
2.192,00 |
20,11 |
54,80 |
123,23 |
|
Operating Current Assets |
2.441,00 |
78,32 |
136,23 |
256,30 |
|
BALANCE |
|
|
|
|
|
Working Capital |
5.229.647,00 |
-4.328,96 |
13.220,09 |
65.044,50 |
|
Working Capital
Requirement |
-5.710.574,00 |
-44.405,08 |
-9.601,62 |
6.680,88 |
|
Treasury |
10.940.221,00 |
6.801,78 |
22.507,73 |
72.864,24 |
|
Balance Ratio |
1,51 |
0,93 |
1,31 |
2,65 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
31,10 |
32,39 |
56,66 |
76,27 |
|
Own / Permanent Funds |
97,92 |
59,10 |
99,34 |
100,00 |
|
Payback Capacity |
2,27 |
0,18 |
0,36 |
0,82 |
|
Long term Indebtedness |
|
0,00 |
0,24 |
24,55 |
|
Gearing |
148,22 |
147,90 |
230,75 |
421,32 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
3,22 |
1,25 |
1,70 |
2,96 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,75 |
0,87 |
1,38 |
2,50 |
|
Immediate Liquidity |
1,57 |
0,18 |
0,60 |
1,33 |
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%)