MIRA
INFORM REPORT
|
Report Date : |
28.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GIOSEPPO S.L. |
|
|
|
|
Registered Office : |
Calle Leonardo Da Vinci (Pq Ind Torellano), 11, 03203
Elche (Alicante) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
22/06/1990 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of other textiles. Footwear & textile industry. |
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 |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
Identification and
Characteristics
|
TAX NUMBER |
B03503034 |
|
NAME |
GIOSEPPO S.L. |
|
BUSINESS
ADDRESS |
CALLE LEONARDO DA VINCI (PQ IND
TORELLANO), 11 |
|
Postcode |
03203 ELCHE (Alicante) |
|
FORMER
ADDRESS |
CALLE JUAN NEGRIN |
|
Postcode |
03320 ELCHE (Alicante) |
|
URL |
http://www.gioseppo.com |
|
TELEPHONE |
965682767 |
|
FAX |
965683068 |
|
LEGAL FORM |
LIMITED LIABILITY COMPANY |
|
DATE FOUNDED |
22/06/1990 |
|
CAPITAL |
3.010,00 Euros |
|
NUMBER OF
EMPLOYEES |
55 |
|
ACTIVITY |
1450000 - Footwear & textile
industry |
|
CNAE |
1750 - Manufacture of other textiles
|
|
EXPORT COMPANY |
YES |
|
* Characteristics of the main address |
|
|
According to our investigations these
premises are owned; with no official confirmation used
as store located in a main non-commercial area . |
|
Synthesis
|
FINANCIAL SITUATION (Year
ending: 31/12/2005) |
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|
|
|
|
PROFITABILITY |
|
Medium |
|
TREASURY |
|
Excellent |
|
BALANCE SHEET |
|
Excellent |
|
DEBT |
|
Low |
|
INCIDENTS |
||
|
|
|
|
|
COMMITMENTS |
|
Respected |
|
INCIDENTS |
|
None or Negligible |
|
PREVIOUS EXPERIENCE |
||
|
|
|
|
|
PREVIOUS
EXPERIENCE |
|
Favourable |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 540.309,88
Max. |
|
SOLVENCY RATING: |
|
(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 |
12.703.879,34 |
17.015.498,85 |
16.490.376,43 |
|
|
|
ADDED VALUE |
686.360,51 |
542.805,66 |
1.163.387,89 |
7,05 |
|
|
BUSINESS RESULT |
470.284,93 |
866.004,17 |
791.564,16 |
4,80 |
|
|
OWN FUNDS |
1.090.578,76 |
1.956.582,93 |
2.748.147,09 |
|
|
|
DEBT |
3.048.417,26 |
4.509.826,41 |
3.972.413,06 |
|
|
|
TOTAL ASSET |
4.138.996,02 |
6.466.409,34 |
6.720.560,15 |
|
|
|
The sales of 16.490.376,43
Euros show a change of -3,09% compared with
2.004 . Between 2.003 and 2.004 , this
change was 33,94% . |
|||||
|
Added value grew by 114,33%
compared with the previous year. Shareholders equity are 2.748.147,09
Euros for an indebtedness of 3.972.413,06 Euros
. |
|||||
|
The result 791.564,16
Euros means financial profitability of 28,80% and
economic profitability of 11,78% . This result means growth of
-8,60% compared with the 2.004 . |
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|
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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: 27/12/2006 |
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Results Distribution |
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Annual Report Year Source: 2.005 |
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|
Figures given in Euros |
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|
Distribution Base |
|||||
|
Profit and Loss |
791.564 |
||||
|
Total of Amounts to be
distributed |
791.564 |
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|
Distribution a |
|||||
|
Voluntary Reserve |
791.564 |
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|
|||||
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Auditors’ opinion: |
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|
FAVOURABLE WITH RESERVATIONS (2.005) |
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|
|||||
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Auditors: |
|||||
|
FRANCISCO MANUEL GONZALVEZ ALBERO |
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|
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|
Auditing Provisos |
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Close Date: 31/12/2005 |
|
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Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
99,87 |
99,06 |
0,81 |
|
ADDED
VALUE |
7,05 |
25,91 |
-18,86 |
|
BUSINESS
RESULT |
4,79 |
1,89 |
2,90 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
40,89 |
48,68 |
-7,79 |
|
DEBT |
59,11 |
51,32 |
7,79 |
Compared sector (CNAE): 175 - Manufacture
of other textiles
Number of companies: 16
Size (Sales Figure): 7.000.000,00 -
40.000.000,00 Euros
The turnover of the company is 0,81%
above the mean for the sector.
The company’s added value was 7,05% s/
the production value, and 18,86% below the mean for the sector.
The company’s business result was
4,79% of the PV, 2,90% above the mean for the sector.
The company’s own resources are 40,89%
, 7,79% below the mean for the sector.
The company’s outside resources are
59,11% , 7,79% 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: No significant elemento
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
SOLE ADMINISTRATOR |
NAVARRO PERTUSA JOSE MIGUEL |
30/06/1997 |
|
AUDITOR |
GONZALVEZ ALBERO FRANCISCO MANUEL |
12/11/2003 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
NAVARRO PERTUSA JOSE MIGUEL |
|
FINANCIAL MANAGER |
NAVARRO PERTUSA JOSE MIGUEL |
|
COMMERCIAL MANAGER |
NAVARRRO PERTUSA GERMAN |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
NAPER-INMO SL |
B53272670 |
100,00% |
OWN SOURCES |
03/01/2007 |
Proceedings published in the
B.O.R.M.E.
(Official Mercantile Register
Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2006) |
27/11/2007 |
071098 |
Alicante |
|
Registration of accounts
(2005) |
27/10/2006 |
818252 |
Alicante |
|
Registration of accounts
(2004) |
04/10/2005 |
644576 |
Alicante |
|
Appointments |
19/11/2004 |
485629 |
Alicante |
|
Registration of accounts
(2003) |
10/09/2004 |
356050 |
Alicante |
Remarks for customer
The address included in your enquiry belongs
to a branch. Bank sources inform us that the company has a correct function,
offering a favourable opinion because of experience. Here is our provisional report,
until we receive the last balance sheet for this company for 2006
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
GIO & GIOANNA |
||||
|
Kind of Brand: |
JOINT |
File: |
M2279471 |
||
|
Request Date: |
24/12/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25
|
|
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Total Marcas: 1
Branches
|
Address |
Postal Code |
Town |
Province |
|
JUAN NEGRIN 57 |
03203 |
ELCHE |
Alicante |
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO SANTANDER, S.A. |
1857 |
VICENTE BLASCO
IBAŃEZ, 23 P-1 |
ELCHE / ELX |
Alicante |
|
BANCO DE
SABADELL, S.A. |
|
|
ALICANTE |
|
|
BANCO BILBAO
VIZCAYA ARGENTARIA, S.A. |
|
|
ELCHE |
|
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 27/12/2006
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 |
483.216,49 |
835.212,19 |
837.274,30 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
311.560,98 |
264.536,08 |
82.762,90 |
|
|
Software |
3.078,00 |
8.793,00 |
27.593,00 |
|
|
Leasing |
386.218,35 |
317.438,23 |
87.394,61 |
|
|
Amortization |
-77.735,37 |
-61.695,15 |
-32.224,71 |
|
|
III. Tangible assets |
171.034,94 |
468.755,03 |
652.590,32 |
|
|
Property, plant and equipment |
31.694,16 |
37.012,21 |
289.245,49 |
|
|
Machinery, equipment and other |
54.971,50 |
310.447,50 |
310.447,50 |
|
|
Other property plant and equipement |
81.968,56 |
134.223,13 |
199.601,27 |
|
|
Other assets |
218.136,31 |
254.467,51 |
285.560,94 |
|
|
Depreciation |
-215.735,59 |
-267.395,32 |
-432.264,88 |
|
|
IV. Financial assets |
620,57 |
101.921,08 |
101.921,08 |
|
|
Securities |
620,57 |
921,08 |
921,08 |
|
|
Other loans |
|
101.000,00 |
101.000,00 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
14.210,03 |
14.831,83 |
1.492,98 |
|
|
D) CURRENT ASSETS |
3.641.569,50 |
5.616.365,32 |
5.881.792,87 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
588.445,81 |
1.494.761,28 |
1.982.188,00 |
|
|
Goods available for sale |
588.445,81 |
1.494.761,28 |
1.982.188,00 |
|
|
III. Debtors |
612.699,02 |
800.119,10 |
1.964.773,47 |
|
|
Clients |
395.798,06 |
586.650,71 |
1.708.020,01 |
|
|
Taxes refunds |
290.337,29 |
299.606,55 |
343.911,33 |
|
|
Provisions |
-73.436,33 |
-86.138,16 |
-87.157,87 |
|
|
IV. Short term financial assets |
18.858,71 |
2.166.762,43 |
1.538.898,44 |
|
|
Short term investment |
15.948,43 |
19.974,29 |
22.392,37 |
|
|
Other loans |
2.910,28 |
2.146.788,14 |
1.516.506,07 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
2.312.701,76 |
1.154.722,51 |
395.932,96 |
|
|
VII. Prepaid expenses and accrued income |
108.864,20 |
|
|
|
|
ASSETS (A + B + C + D) |
4.138.996,02 |
6.466.409,34 |
6.720.560,15 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
1.090.578,76 |
1.956.582,93 |
2.748.147,09 |
|
|
I. Capital |
3.010,00 |
3.010,00 |
3.010,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
617.283,83 |
1.087.568,76 |
1.953.572,93 |
|
|
Retained earnings |
4.713,89 |
4.713,89 |
4.713,89 |
|
|
Other funds |
612.569,94 |
1.082.854,87 |
1.948.859,04 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
470.284,93 |
866.004,17 |
791.564,16 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
49.416,48 |
59.983,21 |
12.585,59 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
49.416,48 |
59.983,21 |
12.585,59 |
|
|
Long term bank loans |
49.416,48 |
59.983,21 |
12.585,59 |
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
|
|
|
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
2.999.000,78 |
4.449.843,20 |
3.959.827,47 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
180.485,43 |
58.298,61 |
307.361,74 |
|
|
Loans and other debts |
180.485,43 |
58.298,61 |
307.361,74 |
|
|
III. Short term debts with associated and
affiliated companies |
|
|
|
|
|
IV. Trade creditors |
2.724.002,15 |
4.129.961,44 |
3.430.703,53 |
|
|
Accounts payable |
33.198,58 |
33.198,58 |
18.774,29 |
|
|
Expenses |
2.653.198,18 |
4.060.881,39 |
3.405.592,32 |
|
|
Bills payable |
37.605,39 |
35.881,47 |
6.336,92 |
|
|
V. Other non trade payables |
94.513,20 |
261.583,15 |
221.762,20 |
|
|
Government |
94.513,20 |
261.583,15 |
221.762,20 |
|
|
VI. Provisions for current assets |
|
|
|
|
|
VII. Accruals and deferred incomes |
|
|
|
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
4.138.996,02 |
6.466.409,34 |
6.720.560,15 |
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.16) |
12.852.831,07 |
17.791.008,67 |
16.631.745,77 |
|
|
A.1. Change in stocks of finished goods
and work in progress |
|
|
|
|
|
A.2. Supplies |
9.139.377,28 |
11.260.087,41 |
9.969.427,73 |
|
|
Material consumed |
8.680.874,56 |
11.156.794,42 |
9.742.148,30 |
|
|
Raw materials consumed |
458.502,72 |
103.292,99 |
227.279,43 |
|
|
A.3. Labor cost |
212.233,04 |
244.979,75 |
372.007,47 |
|
|
Wages |
178.921,91 |
200.634,95 |
295.295,37 |
|
|
Social security expenses |
33.311,13 |
44.344,80 |
76.712,10 |
|
|
A.4. Assets depreciation |
51.572,32 |
74.119,35 |
139.847,44 |
|
|
A.5 Variance in provision for current
assets |
-53.655,95 |
13.620,57 |
1.029,98 |
|
|
Variance in provision for bad debts |
-53.655,95 |
13.620,57 |
1.029,98 |
|
|
A.6. Other operating costs |
2.931.162,41 |
5.263.618,77 |
5.379.701,73 |
|
|
External costs |
2.926.659,84 |
5.260.450,38 |
5.372.434,03 |
|
|
Taxes |
4.502,57 |
3.168,39 |
7.267,70 |
|
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
476.211,10 |
210.085,99 |
650.503,00 |
|
|
A.7. Financial expenses |
233.277,33 |
280.414,27 |
263.496,89 |
|
|
Other companies debts |
231.357,63 |
273.942,08 |
263.344,70 |
|
|
Losses from financial investments |
1.919,70 |
6.472,19 |
152,19 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
84.163,23 |
200.014,60 |
127.364,44 |
|
|
A.II. POSITIVE FINANCIAL RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
238.239,24 |
1.096.389,62 |
498.200,36 |
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
714.450,34 |
1.306.475,61 |
1.148.703,36 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
|
|
|
A.11. Losses in fixed assets |
16.692,11 |
119,08 |
4.452,68 |
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
15.311,51 |
35,00 |
|
|
|
A.14. Prior year’s expenses and losses |
|
|
|
|
|
A.IV. POSITIVE EXTRAORDINARY
RESULT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14) |
|
13.528,43 |
17.278,21 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
692.982,72 |
1.320.004,04 |
1.165.981,57 |
|
|
A.15. Corporate Taxes |
222.697,79 |
453.999,87 |
374.417,41 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
470.284,93 |
866.004,17 |
791.564,16 |
|
|
B) INCOMES (B.1 a B13) |
13.323.116,00 |
18.657.012,84 |
17.423.309,93 |
|
|
B.1. Turnover |
12.703.879,34 |
17.015.498,85 |
16.490.376,43 |
|
|
Sales |
13.002.334,33 |
17.447.619,38 |
16.885.471,21 |
|
|
Discounts |
-298.454,99 |
-432.120,53 |
-395.094,78 |
|
|
B.2. Increase in inventory of finished
goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
53.020,86 |
51.012,99 |
22.140,92 |
|
|
Other incomes |
46.618,13 |
40.318,71 |
15.128,65 |
|
|
Grants |
6.402,73 |
10.694,28 |
7.012,27 |
|
|
B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5+A.6-B.1-B.2-B.3-B.4) |
|
|
|
|
|
B.5. Incomes from share |
|
|
|
|
|
B.6. Income from securities |
|
|
|
|
|
B.7. Other income from interrest |
49.269,61 |
7.672,30 |
62.743,10 |
|
|
From affiliated companies |
48.325,04 |
|
|
|
|
From other companies |
944,57 |
7.672,30 |
57.003,49 |
|
|
Gains from investments |
|
|
5.739,61 |
|
|
B.8. Gains on exchange |
506.410,19 |
1.569.146,19 |
826.318,59 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
|
|
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
6.350,51 |
1.664,38 |
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
4.185,49 |
12.018,13 |
21.730,89 |
|
|
B.13. Prior year’s income and profits |
|
|
|
|
|
B.IV.
EXTRAORDINARY LOSSES (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
21.467,62 |
|
|
|
|
B.V. LOSS BEFORE TAXES (B.III+B.IV-A.III-A.IV) |
|
|
|
|
|
B.VI. NET LOSS (B.V+A.15+A.16) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
32,11 |
33,94 |
-3,09 |
|
|
Assets Turnover |
3,07 |
2,63 |
2,45 |
|
|
Productivity |
3,23 |
2,22 |
3,13 |
|
|
Increase of the Added Value |
-22,64 |
-20,91 |
114,33 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
11,36 |
13,39 |
11,78 |
|
|
Financial Profitability |
43,12 |
44,26 |
28,80 |
|
|
Financial Expenses |
1,84 |
1,65 |
1,60 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
17,00 |
17,00 |
43,00 |
|
|
Suppliers’ Credit (In days of sales) |
107,00 |
132,00 |
124,00 |
|
|
Working Capital (In days of sales) |
18,00 |
25,00 |
42,00 |
|
|
Working Capital Requirement (In days of
sales) |
0,00 |
0,00 |
6,00 |
|
|
Treasury (In days of sales) |
61,00 |
69,00 |
36,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
642.568,72 |
1.166.522,12 |
1.921.965,40 |
|
|
Working Capital Requirement |
-1.508.506,32 |
-2.096.664,21 |
294.495,74 |
|
|
Treasury |
2.151.075,04 |
3.263.186,33 |
1.627.469,66 |
|
|
Balance Ratio |
2,29 |
2,37 |
3,29 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
73,65 |
69,74 |
59,11 |
|
|
Own / Permanent Funds |
95,67 |
97,03 |
99,54 |
|
|
Payback Capacity |
0,24 |
0,26 |
0,24 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,21 |
1,26 |
1,49 |
|
|
Immediate Liquidity |
0,78 |
0,75 |
0,49 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Assets |
|||
|
A) DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,00 |
0,00 |
|
B) FIXED ASSETS |
12,46 |
35,25 |
-22,79 |
|
C) ACCRUED EXPENSES |
0,02 |
1,05 |
-1,03 |
|
D) CURRENT ASSETS |
87,52 |
63,69 |
23,83 |
|
TOTAL ASSETS (A + B + C
+ D) |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
A) SHAREHOLDERS EQUITY |
40,89 |
48,68 |
-7,79 |
|
B) ACCRUED INCOME |
0,00 |
0,32 |
-0,32 |
|
C) RISK AND EXPENDITURE
COVER |
0,00 |
0,19 |
-0,19 |
|
D) LONG-TERM CREDITORS |
0,19 |
14,77 |
-14,58 |
|
E) SHORT-TERM CREDITORS |
58,92 |
35,90 |
23,02 |
|
F) SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,11 |
-0,11 |
|
TOTAL LIABILITIES (A + B
+ C + D + E + F) |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Net turnover |
99,87 |
99,06 |
0,81 |
|
Other operating income |
0,13 |
0,93 |
-0,80 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
60,37 |
53,40 |
6,97 |
|
Other operation expenses |
32,58 |
20,68 |
11,90 |
|
Added value |
7,05 |
25,91 |
-18,86 |
|
Labor cost |
2,25 |
19,56 |
-17,31 |
|
Gross Economic Result |
4,79 |
6,35 |
-1,56 |
|
Assets depreciation |
0,85 |
4,69 |
-3,84 |
|
Variation in provision
for current assets |
0,01 |
0,03 |
-0,02 |
|
Net Economic Result |
3,94 |
1,62 |
2,32 |
|
Financial income |
5,38 |
0,50 |
4,88 |
|
Financial expenses |
2,37 |
1,13 |
1,24 |
|
Variation in financial
investment provision |
0,00 |
-0,08 |
0,08 |
|
Ordinary Activities
Result |
6,96 |
1,06 |
5,90 |
|
Extraordinary income |
0,13 |
2,45 |
-2,32 |
|
Extraordinary expenses |
0,03 |
0,60 |
-0,57 |
|
Variation in provision
in fixed assets |
0,00 |
0,00 |
0,00 |
|
Results before Taxes |
7,06 |
2,92 |
4,14 |
|
Corporaye taxes |
2,27 |
1,02 |
1,25 |
|
Net Result |
4,79 |
1,89 |
2,90 |
|
Assets depreciation |
0,85 |
4,69 |
-3,84 |
|
Provisions fund
variation |
0,01 |
-0,04 |
0,05 |
|
Net Self-Financing |
5,65 |
6,54 |
-0,89 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-3,09 |
-13,36 |
-0,50 |
3,38 |
|
Assets Turnover |
2,45 |
0,80 |
1,18 |
1,80 |
|
Fixed Assets Turnover |
19,66 |
2,08 |
4,27 |
8,27 |
|
Increase of the Added
Value |
114,33 |
-19,31 |
-7,40 |
-0,76 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
3,13 |
1,17 |
1,34 |
1,86 |
|
Change of Personnel
Costs |
51,85 |
-1,96 |
4,21 |
15,60 |
|
Average Personnel Costs |
24.800,50 |
25.500,00 |
30.090,00 |
40.200,00 |
|
Value Added by Employees |
77.559,19 |
26.130,00 |
38.630,00 |
66.780,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
932.441,58 |
386.810,00 |
762.890,00 |
987.520,00 |
|
Operating Cash Flow |
791.380,42 |
401.310,00 |
760.410,00 |
1.287.720,00 |
|
Change in Cash Flow |
-2,23 |
-35,00 |
-21,52 |
1,09 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
11,78 |
-0,03 |
1,01 |
7,85 |
|
Financial Profitability |
28,80 |
-0,02 |
2,67 |
10,50 |
|
Financial Expenses |
1,60 |
0,15 |
0,61 |
1,31 |
|
Gross Economic
Profitability |
11,78 |
4,45 |
8,35 |
11,53 |
|
Gross Financial
Profitability |
28,80 |
10,18 |
13,57 |
31,00 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
42,00 |
77,35 |
116,60 |
143,33 |
|
Suppliers’ Credit (In
days of sales) |
123,00 |
55,79 |
84,71 |
119,66 |
|
Working Capital (In days
of sales) |
41,00 |
35,24 |
100,91 |
126,07 |
|
Working Capital
Requirement (In days of sales) |
6,00 |
76,57 |
92,94 |
124,76 |
|
Treasury (In days of
sales) |
35,00 |
-90,91 |
-0,36 |
57,98 |
|
Operating Current Assets |
128,00 |
170,10 |
217,60 |
236,22 |
|
BALANCE |
|
|
|
|
|
Working Capital |
1.921.965,40 |
1.256.400,00 |
3.005.580,00 |
3.997.770,00 |
|
Working Capital
Requirement |
294.495,74 |
2.095.580,00 |
3.359.010,00 |
4.756.100,00 |
|
Treasury |
1.627.469,66 |
-2.930.920,00 |
-248.590,00 |
1.312.360,00 |
|
Balance Ratio |
3,29 |
1,46 |
2,03 |
3,32 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
59,11 |
25,23 |
43,71 |
66,25 |
|
Own / Permanent Funds |
99,54 |
61,46 |
89,98 |
99,30 |
|
Payback Capacity |
0,24 |
0,18 |
0,29 |
0,64 |
|
Long term Indebtedness |
0,19 |
0,00 |
2,93 |
22,63 |
|
Gearing |
244,55 |
137,97 |
180,84 |
296,30 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,69 |
1,50 |
2,21 |
3,96 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,48 |
1,32 |
1,87 |
3,75 |
|
Immediate Liquidity |
0,49 |
0,06 |
0,11 |
1,47 |
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%)