MIRA
INFORM REPORT
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Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
INSTYTUT ENERGII ATOMOWEJ |
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Registered Office : |
Świerk, 05-400 Otwock |
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Country : |
Poland |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1983/01 |
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Legal Form : |
State Organizational Unit |
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Line of Business : |
Engaged
in scientific research, development and applied studies in physics and
technology of nuclear reactors. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 : |
No Complaints |
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Litigation : |
Clear |
Name & ADDRESS DATA
INSTYTUT ENERGII ATOMOWEJ
ŚWIERK
05-400 OTWOCK
Tel. 022/7180001
Fax. 022/7180003
http:// www.cyf.gov.pl
E-mail: sekretariat_iea@cyf.gov.pl
BASIC DATA
REGONCODE: 001024037
VAT: 532-00-01-245
Nationwide Court Register KRS 0000202924
Legal form: STATE ORGANISATIONAL UNIT
Status: ACTIVE
Start of activity: 1983/01/
Registering agency COURT OF COMMERCE, WARSAW
Type : NATIONAL COURT
REGISTER
Date of registration: 2004/04/06
NACE code 73.10.70
ORGANIZATIONAL-LEGAL DATA
OWNER: STATE OF TREASURY – 100%
MANAG.:
DIRECTOR
Representation : SOLE
SIGNATURE
Surname : WIETESKA
Names : KRZYSZTOF
PESEL :
46080302658
Citizenship : Poland
Addr.:
Country code : Poland
MANAG.:
PLENIPOTENTIARY
Representation : SOLE
SIGNATURE
Surname : MICHAŁOWSKI
Names : HENRYK
PESEL :
36082402272
Citizenship : Poland
Addr.:
Country code : Poland
MANAG.:
PLENIPOTENTIARY
Representation : SOLE
SIGNATURE
Surname :
MAŁETKA
Names :
KRZYSZTOF
PESEL :
60112503158
Citizenship : Poland
Addr.:
Country code : Poland
MANAG.:
PLENIPOTENTIARY
Representation : SOLE
SIGNATURE
Surname :
CHWASZCZEWSKI
Names : STEFAN
PESEL :
35080602295
Citizenship : Poland
Addr.:
Country code : Poland
BRANCH/DEPARTMEN.:
INSTYTUT ENERGII ATOMOWEJ,Z-D DOŚWIADCZALNY UNIESZKODL.ODPADÓW
PROMIENIO
Identifier CEN0102426CK
OTWOCK-ŚWIERK
05-400 OTWOCK
Tel. 7798489
BRANCH/DEPARTMEN.:
INSTYTUT ENERGII ATOMOWEJ,OŚRODEK REAKTORÓW BADAWCZCH,
Identifier CEN0102477CK
OTWOCK-ŚWIERK
05-400 OTWOCK
Tel. 7799599
SHARES IN OTHER COMPANIES
POLATOM SPÓŁKA Z O.O.
Identifier OLS0031628RK
OTWOCK-ŚWIERK
05-400 OTWOCK-ŚWIERK
Tel. 022/7180754
Fax. 022/7797381
Wert: 5133500.00 PLN
EMPLOYMENT
Total (MIN MAX) Productive(MIN
MAX) Unprod.(MIN MAX) DATE FROM DATE TO
250-250 - - 2005/01/01-2005/12/31
261-261 - - 2004/01/01-2004/12/31
400-400 - - 1997/01/01-1997/12/31
550-550 - - 1996/01/01-1996/12/31
REAL ESTATE
Real estate: BD BUILDINGS AND CONSTRUCTIONS
OWN: Area from to Value Cur Number of mortgage reg.
- 14811594.13
Real estate: GN GROUNDS
OWN: Area from to Value Cur Number of mortgage reg.
- 4460218.17
31.12.2005
SALES
2005/01/01 - 2005/12/31
20342552.08
2004/01/01 - 2004/12/31
17074757.64
FINANCIAL DATA
Financial
statement as on
2004/12/31 2005/12/31
ASSETS
A. Total non-current assets: 29168133.67 32424863.98
I.Intangible assets:
17979.95 16023.02
1.Costs of development activities: 0.00 0.00
2.Goodwill: 0.00 0.00
3.Other intangible fixed assets: 17979.95 16023.02
4.Prepayments for intangible
assets: 0.00 0.00
II.Fixed assets: 29150153.72 32408840.96
1.tangible fixed assets:
22358991.49 26436832.45
a)land: 1783662.20 4460218.17
b)buildings: 15412635.39 14811594.13
c)machinery and equipment: 4319325.03 6394793.53
d)vehicles: 34523.21 47281.92
e)other tangible fixed assets:
808845.66 722944.70
2.Investments in progress:
6791162.23 5972008.51
3.Investments in progress paid on
accounts:
0.00 0.00
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: 0.00 0.00
1.Real-estate property:
0.00 0.00
2.Intangible assets:
0.00 0.00
3.Long-term financial assets:
0.00 0.00
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 long-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 long-term financial
assets:
0.00 0.00
4.Other long-term investments:
0.00 0.00
V.Long-term interperiod settlements: 0.00 0.00
1.Assets from deffered income tax: 0.00 0.00
2.Others:
0.00 0.00
B. Current assets: 4148151.73 9383060.67
I.Inventory
2304704.62 5641779.69
1.Materials: 217546.96 4792870.93
2.Semi-products and work in progress: 36383.58 842335.52
3.Finished goods:
0.00 0.00
4.Products: 0.00 0.00
5.Advance payment for delivery:
2050774.08 6573.24
II.Accounts receivable:
349264.90 691393.25
1.From related companies:
0.00 0.00
a)trade receivables:
0.00 0.00
- within 12 months:
0.00 0.00
- more than 12 months:
0.00 0.00
b)others: 0.00 0.00
2.From other companies: 349264.90 691393.25
a)trade receivables:
139682.35 607409.48
- within 12 months:
139682.35 607409.48
- more than 12 months:
0.00 0.00
b)tax and social receivables:
51040.48 38394.99
c)other receivables:
50808.40 40525.45
d)accounts receiv. result. from
disputable claims:
107733.67 5063.33
III.Short-term investments:
1494182.21 3049887.73
1.Short-term financial assets:
1494182.21 3049887.73
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:
1494182.21 3049887.73
- cash in hand and at bank: 1494182.21 3049887.73
- 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: 0.00 0.00
Total assets
(A+B): 33316285.40 41807924.65
LIABILITIES
A. Net worth:
27417493.94 27336799.82
I.Issued capital:
17131826.31 16631285.50
II.Outstanding but unpaid contribution for
share: 0.00 0.00
III.Entity's own capital (negative): 0.00 0.00
IV.Reserve capital:
0.00 0.00
V.Revaluation reserve:
10786208.44 10786208.44
VI.Other reserve capitals:
0.00 0.00
VII.Profit/loss brutto forward:
0.00 0.00
VIII.Net financial result for the year: -500540.81
-80694.12
IX.Write-offs from net profit: |
0.00 0.00
B.Liabilities & reserves:
5898791.46 14471124.83
I.Reserve for liabilities:
0.00 0.00
1.Reserves for deffered income tax: 0.00 0.00
2.Reserves for retirement and
similar:
0.00 0.00
- long-term:
0.00 0.00
- short-term: 0.00 0.00
3.Other reserves:
0.00 0.00
- long-term:
0.00 0.00
- short-term:
0.00 0.00
II.Long-term liabilities:
0.00 0.00
1.To related companies: 0.00 0.00
2.To other companies:
0.00 0.00
a)credits and loans:
0.00 0.00
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)other long-term liabilities: 0.00 0.00
III.Short-term liabilities:
822535.48 1460702.47
1.To related companies:
0.00 0.00
a)trade payable: 0.00 0.00
- within 12 months:
0.00 0.00
- more than 12 months:
0.00 0.00
b)other:
0.00 0.00
2.To other companies:
727656.26 1417456.14
a)bank loans: 0.00 0.00
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)trade payables: 438060.00 822029.65
- within 12 months:
438060.00 822029.65
- 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:
276449.77 532487.35
h)payroll payable:
1966.09 2153.54
i)other short-term liabilities: 11180.40 60785.60
3.Special funds:
94879.22 43246.33
IV.Accrued liabilities:
5076255.98 13010422.36
1.Negative goodwill: 0.00 0.00
2.Other:
5076255.98 13010422.36
- long-term: 4524023.96 12417242.48
- short-term:
552232.02 593179.88
Total liabilties (A+B):
33316285.40 41807924.65
Financial
statement as on
2001/12/31
ASSETS
A. Total non-current assets:
50840000.00
I.Intangible assets:
19000.00
II.Fixed assets:
50447000.00
B. Current assets:
3784000.00
I.Inventory 453000.00
II.Accounts receivable:
981000.00
IV.Short-term interperiod settlements:
0.00
Total assets
(A+B): 54624000.00
LIABILITIES
A. Net worth:
49699000.00
I.Issued capital:
39354000.00
VIII.Net financial result for the year:
-441000.00
B.Liabilities & reserves: 4925000.00
I.Reserve for liabilities:
0.00
II.Long-term liabilities:
672000.00
III.Short-term liabilities:
3523000.00
IV.Accrued liabilities:
730000.00
Total liabilties (A+B): 54624000.00
Profit
and loss account (comp) 2004/12/31 2005/12/31
2004/01/01 2005/01/01
A. Net sales of goods and products: 1740325.46 17865409.72
- including to related companies 0.00 0.00
I.Net sales of products:
1714060.27 3931123.80
II.Change of products :
24748.80 805951.94
III.Costs of production: 0.00 13128333.98
IV.Net sale of goods and materials: 1516.39 0.00
B. Operation expenses: 17480897.34 20041951.36
I. Depreciation: 1988069.91 2141935.55
II. Costs of materials and energy: 2174205.49 4602345.69
III. Outside services: 2658812.97 1836739.13
IV.Taxes :
216024.15 491437.86
- including excise taxes:
0.00 0.00
V.
Salaries: 8075711.97 8421562.34
VI. Social taxes & related:
1787436.76 1851091.79
VII. Other: 580636.09 696839.00
VIII. Goods and materials sold:
0.00 0.00
C. Profit (loss) on sale (A-B):
-15740571.83 -2176541.64
D. Other operation incomes: 15324002.82 2476667.02
I.Profit from sale of tangible assets: 94979.59 178669.00
II.Grants & subsidies:
14033131.49 0.00
III.Other:
1195891.74 2297998.02
E. Other operating costs:
2777.71 286485.69
I.Loss from sale of tangible assets: 0.00 0.00
II.Revaluation of non-financial assets: 0.00 0.00
III.Other:
2777.71 286485.69
F. Profit from operating activity
(C+D-E):
-419346.77 13639.69
G. Financial income:
10429.36 475.34
I. Dividends: 0.00 0.00
-
from subisdiaries and affiliates: 0.00 0.00
II.Interest receivable:
10428.64 464.79
- from subisdiaries and affiliates: 0.00 0.00
III.Profits from investment
transfeered:
0.00 0.00
IV.Revaluation of investments:
0.00 0.00
V.Other: 0.72 10.55
H. Financial costs: 91623.40 13567.15
I.Interest payable including:
247.78 1817.20
-
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:
91375.62 11749.95
I. Profit (loss) from economic activity
(F+G-H):
-500540.81 547.88
J. Extraordinary items (J.I-J.II):
0.00 0.00
I.Extraordinary incomes:
0.00 0.00
II.Extraordinary losses:
0.00 0.00
K. Gross profit for the year (I+/-J): -500540.81 547.88
L. Corporate income tax:
0.00 81242.00
M. Other obligatory charges: 0.00 0.00
N. Net profit for the year (K-L-M): -500540.81 -80694.12
Profit
and loss account (comp) 2001/12/31
2001/01/01
A. Net sales of goods and products:
4055000.00
B. Operation expenses:
23900000.00
I. Depreciation: 2793000.00
II. Costs of materials and energy:
3832000.00
C. Profit (loss) on sale (A-B):
-19845000.00
D. Other operation incomes: 19684000.00
E. Other operating costs:
384000.00
F. Profit from operating activity
(C+D-E): -545000.00
G. Financial income:
183000.00
H. Financial costs:
79000.00
I. Profit (loss) from economic activity
(F+G-H): -441000.00
J. Extraordinary items (J.I-J.II): 0.00
K. Gross profit for the year (I+/-J):
-441000.00
N. Net profit for the year (K-L-M): -441000.00
Cash
flow statement 2001/12/31
2001/01/01
A. Operating cash flow
1509000.00
B.
Investment cash flow -2427000.00
C.
Financial cash flow 376000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) -542000.00
Cash
flow statement InfoData 2004/12/31
2004/01/01
A. Operating cash flow
2444622.28
I. Net loss 500540.81
II. Adjustments 2945163.09
1. Depreciation 1988069.91
2. Loss on exchange rates difference 29447.53
3. Interests/dividends
receivable/payable
10145.14
4. Profit on investment activities .00
5. Change of reserves
8826.36
6. Change in invesntories
-26350.65
7. Change in accounts receivable -200318.88
8. Change in short-term liabilities 670462.94
9. Change in prepaid items
523775.80
10. Other items .00
III.Net operating cash flow (I +/- II) 2444622.28
B.
Investment cash flow -1535095.96
I. Cash inflows from investment
activities
117000.00
1. Sale of intangible assets 117000.00
2. Sale of real-estate property and intang.
assets .00
3.
Sale of financial assets .00
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 1652095.96
1. Acquired intangible and tangible fixed
assets 1652095.96
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 -1535095.96
C.
Financial cash flow 0.00
I. Inflows from financial activity .00
1. Net inflows from issuing shares, capital
instr. .00
2. Bank credits and loans
.00
3. Issue of debt securities .00
4. Other financial inflows .00
II. Cash outflows from financial
activity
39592.67
1. Own shares acquired
.00
2. Dividends and other payables to
owner .00
3. Payments, other than dividends,to
shareholders/owners .00
4. Bank credits and loan repaids .00
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable
.00
8. Interests 10145.14
9. Other financial outflows 29447.53
III. Net financial cash flow 39592.67
D. Total net cash flow (A.III +/- B.III +/- C.III) 909526.32
E. Change in cash. positions in balance 324118.99
- including due to the foreign exchanges
difference .00
F. Cash at the beginning of the year 1170063.22
G. Cash at the end of the year (F +/- D) 2079589.54
- including restricted cash .00
Cash
flow statement 2005/12/31
2005/01/01
A. Operating cash flow
3854018.12
I. Net loss 80694.12
II. Adjustments 3934712.24
1. Depreciation 2141935.55
2. Profit on exchange rates difference .00
3. Interests/dividends
receivable/payable
.00
4. Profit on investment activities .00
5. Change of reserves
0.00
6. Change in invesntories
-3337075.07
7. Change in accounts receivable -592128.35
8. Change in short-term liabilities 685213.73
9. Change in prepaid items
5036766.38
10. Other items .00
III.Net operating cash flow (I +/- II) 3854018.12
B.
Investment cash flow -2298312.60
I. Cash inflows from investment
activities
178669.00
1. Sale of intangible assets 178669.00
2. Sale of real-estate property and intang.
assets .00
3. Sale of financial assets
.00
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 2476981.60
1. Acquired intangible and tangible fixed
assets 2476981.60
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 -2298312.60
C.
Financial cash flow 0.00
I. Inflows from financial activity .00
1. Net inflows from issuing shares, capital
instr. .00
2. Bank credits and loans
.00
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
.00
1. Own shares acquired .00
2. Dividends and other payables to
owner .00
3. Payments, other than dividends,to
shareholders/owners .00
4. Bank credits and loan repaids .00
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable
.00
8. Interests .00
9. Other financial outflows .00
III. Net financial cash flow 0.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 1555705.52
E. Change in cash. positions in balance 1555705.52
- including due to the foreign exchanges
difference .00
F. Cash at the beginning of the year 1494182.21
G. Cash at the end of the year (F +/- D) 3049887.73
- including restricted cash .00
INDEX ANALYSE
year 2001 2004 2005
CURRENT RATIO (CR)
Current Assets/Current liabilities 1.0740846 5.0431280 6.4236632
QUICK RATIO (QR)
Current Assets-Inventory/Current
liabilities 0.9455010 2.2411764 2.5612889
CASH RATIO (SQR)
Cash/Current liabilities
1.8165565 2.0879596
STOCK TURNOVER/DAY'S SUPPLY IN INVENTORY
Inventory/Turnover x 365 days 40.7756 483.3677 115.2646
CREDITORS DAYS/DAY'S SALES IN
RECEIVABLES
Current receivables/Turnover x 365 days 88.3021 73.2516 14.1255
DEBTORS DAYS/DAY'S PURCHASE IN PAYABLES
Current liabilities/Turnover x 365 days 317.113 172.511 29.843
TOTAL INDEBTNESS/DEBT RATIO
Outside capital/Equity capital x 100% 9.0% 177% 34.6%
LONG TERM INDEBTNESS I/LONG TERM DEBT RATIO
I
Longterm liabilities/Equity capital 0.01352 0.00000 0.00000
LONG TERM INDEBTNESS II/LONG TERM DEBT RATIO
II
Longterm liab./Equity cap.+Longterm liab. x
100% 1.3% 0.0%
0.0%
RETURN ON SALES (ROS)
Net profit/Turnover x 100% - 10.9% - 28.8% - 0.5%
RETURN ON ASSETS (ROA)
|
Net profit/Total assets x 100% - 0.8%
- 1.5% - 0.2%
RETURN ON EQUITY (ROE)
Net profit/Equity capital x 100% - 0.9%
- 1.8% - 0.3%
LONG TERM LIABILITIES IN OUTSIDE CAPITAL
Longterm liabilities/Outside capital x
100% 0.1601907 0.0000000 0.0000000
WORKING CAPITAL
Current assets-Current liabilities 261000.00 3325616.25 7922358.20
WORKING CAPITAL RATIO
Current assets-Current liabilities/Turnover x
100% 6.4% 191.1% 44.3%
HISTORICAL DATA
Basic data validity period: 1983/01/01 - 2004/04/06
Legal form: STATE ORGANISATIONAL UNIT
Registering agency COURT OF COMMERCE
WARSAW
Type : REGISTER OF R&D
INSTITUTIONS
Number BR 34
Date of registration: 01/01/1983
PAYMENTS
No significant trade experience has been reported thus far
TRADE PARTNERS
PARTNER:
INSTYTUT CHEMII I TECHNIKI JĄDROWEJ
Identifier CEN0001106CK
DORODNA 16
03-195 WARSZAWA
Mail box: 03
Tel. 022/8110656
Fax. 022/8111532, 8111917
mobile: www.ichtj.waw.pl
E-mail: sekdyrn@orange.ichtj.waw.pl
RELATED FIRMS
Note reported
PROCEDURES
Officially not available
ADDITIONAL INFORMATION
Any other information officially not available
BANK
Name: Powszechna Kasa Oszczędności - Bank Polski S.A.
Addr.: 04-502Warszawa
ul.Korkowa 24
Account num: 68 1020 1127 0000 1502 0007 3031
CUSTOMERS/SUPPLIERS
Officially not available
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
CREDIT RATING
Maximum Credit: 250.000 EUR
all figure quoted in PLN
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%)