MIRA INFORM REPORT

 

 

Report Date :

06.12.2007

 

IDENTIFICATION DETAILS

 

Name :

LTC VYSOKÉ MÝTO, AKCIOVÁ SPOLEČNOST

 

 

Registered Office :

Masarykovo náměstí 180/IV, Vysoké Mýto

 

 

Country :

Czech Republic

 

 

Date of Incorporation :

16.09.1996

 

 

Com. Reg. No.:

B 1526

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of other food products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

EUR 50.000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear


COMPANY REPORTED

 

 

 

LTC VYSOKÉ MÝTO, AKCIOVÁ SPOLEČNOST

 

Principal Address


Masarykovo náměstí 180/IV
566 01 Vysoké Mýto
Czech Republic
Tel: +420-465 424 900
Fax: +420-465 424 903
Email: obchod@ltc.cz
Internet: www.ltc.cz

 

Registered office


Masarykovo náměstí 180/IV
Vysoké Mýto
Czech Republic

 

 

ICON number

 

4986490

 

 

National ID

 

25256815

 

 

VAT number

 

CZ25256815

 

 

Registration status

 

16.09.1996 - registered company

 

 

Activity status

 

16.09.1996 - active company

 

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency / preliminary/debt regulation proceeding.

 


 

 

Maximum Credit:

EUR 50.000,00

 

 

 


 

 

Payment Practices:

Payments are made irregularly.

 


 

 

Further Rating Information:

Researched company is categorized as a medium sized company.

Fixed assets increased by CZK 1.640.000 and are 8,45% of total assets.

Positive Cash flow from results of CZK 1.359.000, in the last period the value was negative.
Equity of CZK 18.257.000 compared with total assets indicates a low level of self-financing.

 


 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS

 



 

 

Established:

1996

 


 

 

Registration:

No. B 1526
16.09.1996
Hradec Králové, Czech Republic

 


 

 

Legal Form:

16.09.1996
joint stock company

 


 

 

Capital:

CZK 1.000.000,00

 


 

 

Shareholders:

Full Name

Function

Address

Equity

Ing. NOVÁK Martin

Major Shareholder

Jabloňová 308
570 01 Litomyšl
Czech Republic

 

 


 

 

Management:

Full Name

Function

Address

Ing. NOVÁK Martin
16.09.1996 - Present

Chairman of the executive board

Jabloňová 308
570 01 Litomyšl
Czech Republic

Ing. PAVLIŠ Milan
23.01.2004 - Present

Deputy chairman of the executive board

Čistá 408
569 56 Čiská u Litomyšle
Czech Republic

DVOŘÁKOVÁ Monika
21.01.2004 - Present

Member of the executive board

17. listopadu 831
570 01 Litomyšl
Czech Republic

EDL Josef
23.01.2004 - Present

Chairman of the supervisory board

V Peklovcích 510/II
566 01 Vysoké Mýto
Czech Republic

 

 

 

KEY DATA ON OPERATIONS

 

 

 

Subject of Operation:

NACE
  main activity
  1580 Manufacture of other food products

  7482 Packaging activities
  5210 Retail sale in non-specialized stores
  7487 Other business activities n.e.c.

 


 

 

Key Data:

Amounts shown in Czech Koruna (CZK)

 

2006

2005

2004

2003

Turnover

342.620.000

370.075.000

315.729.000

304.783.000

Fixed assets

16.219.000

14.579.000

7.316.000

6.641.000

Equity

18.257.000

15.987.000

17.734.000

17.738.000

Liabilities

172.567.000

193.186.000

125.230.000

88.426.000

Profit after taxation

2.274.000

0

0

8.854.000

Loss after taxation

0

1.747.000

29.000

0

Operating result - profit

12.043.000

4.932.000

9.964.000

17.764.000

 

 

2006

2005

2004

2003

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

1,19

NEGATIVE

NEGATIVE

7,58

Return on equity (ROE)
(Net result / Equity capital) * 100

12,46

NEGATIVE

NEGATIVE

49,92

 


 

 

Workforce:

 

2007

2006

2005

2004

Total workforce

62

90

90

100

Number of freelancers

30

 

 

 

 


 

 

Motor Vehicles:

 

2004

2003

2002

Total number of vehicles

9

12

12

 


 

 

Imports:

Canada

Greece

Malaysia

Netherlands

Slovakia

Turkey

United States of America

 


 

 

Exports:

 

Slovenia

Slovakia

 


 

 

Real Estate:

built upon
Address:
Masarykovo náměstí 180/IV
566 01 Vysoké Mýto
Czech Republic

Share: 100%

 

 

 

FINANCIAL INFORMATION

 



 

 

Financials:

Amounts shown in Czech Koruna (CZK)  

2006

2005

2004

2003

 



Assets

 

TOTAL ASSETS

191.881.000,00

209.173.000,00

146.343.000,00

116.848.000,00

 

Fixed assets

16.219.000,00

14.579.000,00

7.316.000,00

6.641.000,00

 

Intangible fixed assets

458.000,00

 

 

 

 

Tangible fixed assets

15.761.000,00

14.397.000,00

7.134.000,00

6.484.000,00

 

Non-current financial assets

 

182.000,00

182.000,00

157.000,00

 

Current assets

173.634.000,00

193.681.000,00

137.264.000,00

108.764.000,00

 

Inventories

43.962.000,00

48.797.000,00

48.194.000,00

37.300.000,00

 

Long-term receivables

120.000,00

 

 

 

 

Short-term receivables

124.545.000,00

139.116.000,00

82.322.000,00

63.440.000,00

 

from that : Trade receivables

123.765.000,00

137.845.000,00

77.836.000,00

62.976.000,00

 

Liquid assets

5.007.000,00

5.768.000,00

6.748.000,00

8.024.000,00

 

Other assets

2.028.000,00

913.000,00

1.763.000,00

1.443.000,00

 



Equity & Liabilities

 

TOTAL LIABILITIES

191.881.000,00

209.173.000,00

146.343.000,00

116.848.000,00

 

Equity

18.257.000,00

15.987.000,00

17.734.000,00

17.738.000,00

 

Share capital

1.000.000,00

1.000.000,00

1.000.000,00

1.000.000,00

 

Capital funds

 

4.000,00

4.000,00

-21.000,00

 

Statutory funds

200.000,00

200.000,00

200.000,00

200.000,00

 

Retained earnings

14.783.000,00

16.530.000,00

16.559.000,00

7.705.000,00

 

Profit or loss for the current period

2.274.000,00

-1.747.000,00

-29.000,00

8.854.000,00

 

LIABILITIES

172.567.000,00

193.186.000,00

125.230.000,00

88.426.000,00

 

Reserves

 

 

2.708.000,00

5.864.000,00

 

Long-term liabilities

 

249.000,00

151.000,00

104.000,00

 

Short-term liabilities

92.593.000,00

108.830.000,00

53.917.000,00

31.694.000,00

 

Bank loans and borrowings

79.974.000,00

84.107.000,00

68.454.000,00

50.764.000,00

 

Short-term bank credits and loans

70.000.000,00

84.107.000,00

54.000.000,00

50.000.000,00

 

Other liabilities

1.057.000,00

 

3.379.000,00

10.684.000,00

 

BALANCE SHEET TOTAL

191.881.000,00

209.173.000,00

146.343.000,00

116.848.000,00

 



Profit & Loss Account

 

Turnover

342.620.000,00

370.075.000,00

315.729.000,00

304.783.000,00

 

Change in internally produced inventory

-4.464.000,00

4.131.000,00

337.000,00

3.089.000,00

 

Own work capitalized

5.000,00

 

 

 

 

Other operating revenues

117.658.000,00

3.478.000,00

203.000,00

86.000,00

 

Total operating income

455.819.000,00

377.684.000,00

316.269.000,00

307.958.000,00

 

Costs of sold goods

82.177.000,00

101.254.000,00

81.254.000,00

40.421.000,00

 

Purchased consumables and services

228.048.000,00

254.049.000,00

208.688.000,00

238.712.000,00

 

Staff costs

10.804.000,00

16.565.000,00

17.610.000,00

17.232.000,00

 

Taxes and charges

61.000,00

86.000,00

52.000,00

20.000,00

 

Depreciations of intangible and tangible assets

915.000,00

770.000,00

415.000,00

369.000,00

 

Other operating expenses

121.771.000,00

28.000,00

-1.714.000,00

-13.898.000,00

 

Total operating expenses

443.776.000,00

372.752.000,00

306.305.000,00

282.856.000,00

 

OPERATING PROFIT / LOSS

12.043.000,00

4.932.000,00

9.964.000,00

17.764.000,00

 

Financial income

5.902.000,00

5.700.000,00

4.268.000,00

3.654.000,00

 

Financial expenses

15.139.000,00

11.966.000,00

13.705.000,00

7.833.000,00

 

there of : Interest expenses

4.282.000,00

4.559.000,00

4.235.000,00

2.692.000,00

 

Extraordinary income

1.079.000,00

 

 

 

 

Extraordinary expenses

1.135.000,00

 

 

 

 

PROFIT/LOSS BEFORE TAX

2.750.000,00

-1.334.000,00

527.000,00

 

 

Corporation income tax

476.000,00

413.000,00

556.000,00

4.731.000,00

 

PROFIT OR LOSS FOR THE CURRENT PERIOD

2.274.000,00

-1.747.000,00

-29.000,00

8.854.000,00



Partial Financials:

Amounts shown in Czech Koruna (CZK)  

2007

 



Equity & Liabilities

 

Share capital

1.000.000,00



The balance sheet data are from official sources.
The company is obliged by law to publish its financial statements.
The (official) balance sheet for 2003 includes mistakes in data structure or incorrect data.

2006
The financial data were submitted directly by the management of the researched company.

 


 

 

Approximate Exchange Rates:

2006: 28,343 CZK = 1 EUR
2005: 29,784 CZK = 1 EUR
2004: 31,904 CZK = 1 EUR
2003: 31,844 CZK = 1 EUR
2002: 30,812 CZK = 1 EUR
2006: 22,609 CZK = 1 USD
2005: 23,947 CZK = 1 USD
2004: 25,701 CZK = 1 USD
2003: 28,227 CZK = 1 USD
2002: 32,736 CZK = 1 USD

 


 

 

Bankers:

Komerční banka, a.s. - Account no. 8698010257/0100
Vysoké Mýto

 


 

 

Ratios:

 

2006

2005

2004

2003

Liquidity Ratio - 3.stage
current assets / (Short-term liabilities + Short-term bank credits and loans)

1,07

1,00

1,27

1,33

Liquidity Ratio - 2.stage
(Short-term receivables + Liquid assets) / (Short-term liabilities + Short-term bank credits and loans)

0,80

0,75

0,83

0,87

Liquidity Ratio - 1.stage
Liquid assets / (Short-term liabilities + Short-term bank credits and loans)

0,03

0,03

0,06

0,10

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

1,19

NEGATIVE

NEGATIVE

7,58

Return on equity (ROE)
(Net result / Equity capital) * 100

12,46

NEGATIVE

NEGATIVE

49,92

Return on sales ( ROS )
Net profit / Turnover

0,66

NEGATIVE

NEGATIVE

2,91

Receivables Maturity Date (day)
Short-term receivables / Turnover * 365

132,68

137,21

95,17

75,97

Liabilities Maturity Date (day)
Short-term liabilities / Turnover * 365

98,64

107,34

62,33

37,96

Debt Ratio
(Liabilities / Total Liabilities) * 100

89,93

92,36

85,57

75,68

Stock rotation in days
stock / (production consumption + expenses on sold goods) * 360

0

0

0

0

Net working capital
current assets - short term liabilities

CZK 81.041.000,00

CZK 84.851.000,00

CZK 83.347.000,00

CZK 77.070.000,00


Average values of ratios of enterprises with 100 or more employees in the sector of manufacture of food products, beverages and tobacco are following:

Liquidity Ratio - 3.stage: 1,7
Liquidity Ratio - 2.stage: 1,3
Liquidity Ratio - 1.stage: 0,3
ROA: 6,5 %
ROE: 14,0 %
Receivables Maturity Date: 80 days
Liabilities Maturity Date: 75 days
Debt Ratio: 50 %

 



ADDITIONAL INFORMATION

 

 

 

Contact With Company:

Name and surname: Mr. Milan Pavliš
Function: economic manager
Information given in report has been confirmed.

 

 


 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions