MIRA
INFORM REPORT
|
Report Date : |
6th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
TINO
EMPRESARIAL E INDUSTRIAL S.L. |
|
|
|
|
Formerly Known as: |
TINO
CANTERAS S.L. |
|
|
|
|
Registered Office : |
Poligono Industrial
Rubira Sola I, S/N 04867 Macael (Almeria) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2005 |
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|
|
|
Date of Incorporation : |
27.07.1995 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Quarrying
of stone for construction. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually
Correct |
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|
|
|
Litigation : |
Clear |
Identification and
Characteristics
Tax
Number B04237954
NAME TINO
EMPRESARIAL E INDUSTRIAL S.L.
FORMER
NAME TINO CANTERAS
S.L.
BUSINESS
ADDRESS POLIGONO
INDUSTRIAL RUBIRA SOLA I, S/N
Postcode 04867
MACAEL (ALMERIA)
URL http://www.tino.es
TELEPHONE 950128250
FAX 950445322
LEGAL
FORM LIMITED
LIABILITY COMPANY
DATE
FOUNDED 27/07/1995
CAPITAL 37.563,26 Euros
NUMBER
OF EMPLOYEES 67
ACTIVITY 1231000 - Quarrying
of stone for construction
CNAE 1411 - Quarrying
of stone for construction
EXPORT
COMPANY YES
* Characteristics of the
main address
According to our researches
dated 01/02/2005 these are it is
a/an office, warehouse used as owned; with no official
confirmation located in a out of the commercial area and it is
located in an area secondary .
Synthesis
FINANCIAL SITUATION (Year
ending: 31/12/2005)
PROFITABILITY Very
good
TREASURY Degraded
BALANCE
SHEET Degraded
DEBT Medium
INCIDENTS
COMMITMENTS Respected
INCIDENTS None
or Negligible
PREVIOUS EXPERIENCE
PREVIOUS
EXPERIENCE Very
favourable
Credit Appraisal
CREDIT ACCORDING TO OBJECTIVE
DATA (From 0 to 6.000.000,00 Euros):
FAVOURABLE
TOWARDS 252.000,00 Max. Euros
Financial Elements
Figures given in Euros
|
|
Balance sheet 2.003 (12) |
Balance sheet 2.004 (12) |
Balance sheet 2.005 (12) |
% Sales |
|
SALES |
5.504.373,62 |
5.637.529,64 |
5.978.372,21 |
|
|
ADDED VALUE |
3.370.768,54 |
3.639.692,46 |
3.572.719,02 |
59,76 |
|
BUSINESS RESULT |
573.442,21 |
515.792,51 |
1.015.005,75 |
16,98 |
|
OWN FUNDS |
3.048.216,81 |
3.564.009,32 |
3.779.015,07 |
|
|
DEBT |
8.371.302,44 |
11.120.222,49 |
13.399.491,04 |
|
|
TOTAL ASSET |
12.658.405,35 |
15.918.292,62 |
18.299.227,41 |
|
The sales of 5.978.372,21
Euros show a change of 6,05% compared with
2.004 . Between 2.003 and 2.004 , this change
was 2,42% .
Added value grew by
-1,84% compared with the previous year. Shareholders equity are
3.779.015,07 Euros for an indebtedness of 13.399.491,04
Euros .
The result 1.015.005,75
Euros means financial profitability of 26,86% and
economic profitability of 5,55% . This result means growth of
96,79% compared with the 2.004 .
THE FIGURES FOR THE LAST BALANCE
SHEET ARE RELEVANT:
SOURCE: FROM THE MERCANTILE
REGISTER
DATE: 31/01/2007
Results Distribution
Annual Report Year Source:
2.005
Figures given in Euros
Distribution Base
Profit
and Loss 1.015.006
Total
of Amounts to be distributed 1.015.006
Distribution a
Voluntary
Reserve 1.015.006
Auditors’ opinion:
FAVOURABLE WITH RESERVATIONS
(2.005)
Auditors:
ERNST & YOUNG S.L.
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005) |
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
88,15 |
96,38 |
-8,23 |
|
ADDED
VALUE |
52,68 |
41,53 |
11,15 |
|
BUSINESS
RESULT |
14,97 |
6,84 |
8,13 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
20,65 |
48,27 |
-27,62 |
|
DEBT |
73,22 |
51,73 |
21,49 |
Compared sector (CNAE): 141 - Extracción de piedra
Number of companies: 101
Size (Sales Figure): 2.800.000,00 - 7.000.000,00 Euros
The turnover of the company is 8,23%
below the mean for the sector.
The company’s added value was 52,68%
s/ the production value, and 11,15% above the mean for the sector.
The company’s business result was
14,97% of the PV, 8,13% above the mean for the sector.
The company’s own resources are 20,65%
, 27,62% below the mean for the sector.
The company’s outside resources are
73,22% , 21,49% above the mean for the sector.
Legal Actions
No legal incidences registered
for this company in the official source
CLAIM
FILED AGAINST THE ADMINISTRATION: 1 (
Last 27/06/2006 )
With the Social Security: 1
With the Tax Authorities: 0
With Other Organisms: 0
AFFECTED BY: No significant
elemento
Last claim filed against the
administration
(Figures given in Euros)
|
||||
|
With the Social Security: 1 |
||||
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||||
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Information Date |
Organization |
Amount |
|
|
|
27/06/2006 |
CENTRAL TREASURY FOR SOCIAL
SECURITY DIRECCION PROVINCIAL DE TRABAJO Y SEGURIDAD SOCIAL |
348,37 |
|
|
|
||||
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of appointment |
|
SOLE ADMINISTRATOR |
VALDES COSENTINO ANTONIO |
16/11/1995 |
|
AUDITOR |
FAY CO AUDITORES S R L |
20/02/2002 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
JIMENEZ JOSE MIGUEL |
|
FINANCIAL MANAGER |
PORRA ANTONIO |
|
COMMERCIAL MANAGER |
VALDES RAFAEL |
|
MARKETING MANAGER |
VALDES RAFAEL |
|
OPERATIONS MANAGER |
MARTINEZ SANCHEZ DIEGO |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
TINO STONE GROUP S.A. |
A04222808 |
100,00% |
OWN SOURCES |
22/05/2006 |
|
Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
TINO ITALIA, S.L. |
B92017698 |
75,00% |
M.REGISTER |
31/12/2004 |
|
|
B92576610 |
25,00% |
M.REGISTER |
31/12/2004 |
ARIPROSUR S.L.
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2005) |
05/01/2007 |
008208 |
ALMERIA |
|
Change of name |
11/10/2006 |
489489 |
ALMERIA |
|
Registration of accounts
(2004) |
25/01/2006 |
038526 |
ALMERIA |
|
Registration of accounts
(2004) Consolidated |
14/10/2005 |
725116 |
ALMERIA |
|
Resignations |
14/07/2005 |
317792 |
ALMERIA |
Press articles
11/07/2006 LA
VOZ DE ALMERIA LEGAL ANNOUNCE
LOS SOCIOS UNICOS DE TINO MARMOLES, S.L.U.
(SDAD. ESCINDIDA) Y DE TINO CAN TERAS, S.L.U. (SDAD. BENEFICIARIA), EN FECHA
28/06/06, ACORDARON LA ESCISION PARCIAL DE LA PRIMERA MEDIANTE LA SEGREGACION
DE UNA RAMA DE ACTIVIDAD A FA VOR DE LA SEGUNDA.
Complementary Information
Segun BORME (SECCION SEGUNDA) del
10/07/06 la sociedad esta en pro-
ceso de ser beneficiaria de la
escision parcial de TINO MARMOLES SL
NIF B04128211.
Segun BORME de 11/10/06 esta
sdad. ha sido beneficiaria de la esci-
sion parcial de TINO TIENDAS S.L.
nif. B04128211.
Commercial
Experience
Suppliers International
TINO
MARMOLES SL
TINO
STONE GROUP SA
TINO
STONE GROUP SA
TINO
MAMOLES SL
TINO
STONE GROUP SA
Total 6
Clients International
TINO
STONE GROUP SA
TINO
STONE GROUP SA
TINO
MARMOLES SL
Total 3
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
MACAEL |
|
|
BANCO DE VALENCIA, S.A. |
|
|
MACAEL |
|
|
CAJA DE AHORROS Y PENSIONES DE BARCELONA |
|
|
MACAEL |
|
|
BANCO ESPAŃOL DE CREDITO, S.A. |
|
|
MACAEL |
|
|
CAJA R. INTERMEDITERRANEA, S.C.C. |
0029 |
HUERTOS, 16 |
MACAEL |
ALMERIA |
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 31/01/2007
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 |
8.695.811,34 |
12.257.593,33 |
12.580.316,10 |
|
|
I. Establishment expenses |
|
|
35.000,00 |
|
|
II. Intangible assets |
128.910,54 |
161.408,11 |
131.504,51 |
|
|
Concessions, patents,licences , trademarks |
5.429,86 |
5.429,86 |
8.932,86 |
|
|
Acquired rights from finance leases |
210.354,24 |
330.556,66 |
330.556,66 |
|
|
Leasing |
97.964,97 |
|
|
|
|
Amortization |
-184.838,53 |
-174.578,41 |
-207.985,01 |
|
|
III. Tangible assets |
8.560.590,18 |
12.059.874,60 |
9.759.412,97 |
|
|
Property, plant and equipment |
4.622.308,47 |
7.325.147,36 |
6.106.012,42 |
|
|
Machinery, equipment and other |
5.373.011,88 |
5.474.898,91 |
3.738.808,22 |
|
|
Other property plant and equipement |
76.822,14 |
78.367,34 |
72.601,87 |
|
|
Prepaid expenses on fixed assets |
612.586,38 |
1.896.667,84 |
1.935.279,14 |
|
|
Other assets |
114.177,45 |
311.355,27 |
282.750,85 |
|
|
Depreciation |
-2.238.316,14 |
-3.026.562,12 |
-2.376.039,53 |
|
|
IV. Financial assets |
6.310,62 |
36.310,62 |
36.310,62 |
|
|
Shares in affiliated companies |
|
2.103,54 |
2.103,54 |
|
|
Shares in associated companies |
6.310,62 |
30.000,00 |
30.000,00 |
|
|
Securities |
|
4.207,08 |
4.207,08 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
2.618.088,00 |
|
|
C) DEFERRED EXPENSES |
661,98 |
|
|
|
|
D) CURRENT ASSETS |
3.961.932,03 |
3.660.699,29 |
5.718.911,31 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
2.490.153,05 |
2.584.906,27 |
3.463.871,63 |
|
|
Goods available for sale |
2.368.653,05 |
2.584.906,27 |
3.040.109,12 |
|
|
Finished goods |
|
|
423.762,51 |
|
|
Cash advance |
121.500,00 |
|
|
|
|
III. Debtors |
1.310.249,34 |
1.002.827,39 |
1.905.668,54 |
|
|
Clients |
1.026.102,12 |
939.512,31 |
1.257.731,58 |
|
|
Amounts owned by affiliated companies |
|
|
32.661,22 |
|
|
Other debts |
17.907,51 |
|
669.933,11 |
|
|
Taxes refunds |
280.519,99 |
132.638,45 |
14.666,00 |
|
|
Provisions |
-14.280,28 |
-69.323,37 |
-69.323,37 |
|
|
IV. Short term financial assets |
4.393,59 |
4.393,59 |
11.206,88 |
|
|
Short Term Deposit and guarantees |
4.393,59 |
4.393,59 |
11.206,88 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
70.752,63 |
32.301,57 |
66.886,86 |
|
|
VII. Prepaid expenses and accrued income |
86.383,42 |
36.270,47 |
271.277,40 |
|
|
ASSETS (A + B + C + D) |
12.658.405,35 |
15.918.292,62 |
18.299.227,41 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12) |
31/12/2004 (12) |
31/12/2005 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
3.048.216,81 |
3.564.009,32 |
3.779.015,07 |
|
|
I. Capital |
37.563,26 |
37.563,26 |
37.563,26 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
2.437.211,34 |
3.010.653,55 |
2.726.446,06 |
|
|
Retained earnings |
7.512,65 |
7.512,65 |
7.512,65 |
|
|
Other funds |
2.429.698,69 |
3.003.140,90 |
2.718.933,41 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
573.442,21 |
515.792,51 |
1.015.005,75 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
1.238.886,10 |
1.113.858,39 |
1.085.276,68 |
|
|
Capital grants |
1.238.886,10 |
1.113.858,39 |
1.085.276,68 |
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
120.202,42 |
35.444,62 |
|
|
Other provisions |
|
120.202,42 |
35.444,62 |
|
|
D) LONG TERM LIABILITIES |
3.150.387,01 |
2.869.361,48 |
3.613.460,60 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
2.024.621,27 |
1.377.590,80 |
1.750.301,95 |
|
|
Long term bank loans |
2.024.621,27 |
1.377.590,80 |
1.750.301,95 |
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
1.125.765,74 |
1.491.770,68 |
1.863.158,65 |
|
|
Other debts |
|
188.263,60 |
218.793,42 |
|
|
Taxes receivable |
1.125.765,74 |
1.303.507,08 |
1.644.365,23 |
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
5.220.915,43 |
8.250.861,01 |
9.786.030,44 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
1.143.596,85 |
871.007,48 |
4.424.794,87 |
|
|
Loans and other debts |
1.114.779,81 |
868.918,75 |
4.419.294,04 |
|
|
Debt interest |
5.691,83 |
2.088,73 |
5.500,83 |
|
|
Leasing |
23.125,21 |
|
|
|
|
III. Short term debts with associated and
affiliated companies |
1.914.478,37 |
5.686.931,69 |
3.602.200,63 |
|
|
With affiliated companies |
1.914.478,37 |
5.686.931,69 |
3.602.200,63 |
|
|
IV. Trade creditors |
1.306.434,98 |
1.142.790,08 |
937.280,06 |
|
|
Expenses |
3.199,24 |
22.516,10 |
124.807,90 |
|
|
Bills payable |
1.303.235,74 |
1.120.273,98 |
812.472,16 |
|
|
V. Other non trade payables |
856.405,23 |
550.131,76 |
821.754,88 |
|
|
Government |
502.901,46 |
229.235,36 |
268.710,08 |
|
|
Bills payable |
259.404,25 |
|
|
|
|
Other debts |
|
229.051,60 |
481.743,59 |
|
|
Accounts receivable |
94.099,52 |
91.844,80 |
71.301,21 |
|
|
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) |
12.658.405,35 |
15.918.292,62 |
18.299.227,41 |
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) |
|
|
|
|
|
A.1. Change in stocks of finished goods
and work in progress |
|
|
436.973,48 |
|
|
A.2. Supplies |
669.862,92 |
1.385.616,54 |
1.126.746,97 |
|
|
Material consumed |
5.707,05 |
1.241.435,74 |
392.579,14 |
|
|
Raw materials consumed |
491.912,21 |
|
|
|
|
Other expenses |
172.243,66 |
144.180,80 |
734.167,83 |
|
|
A.3. Labor cost |
1.677.135,25 |
1.876.131,33 |
1.456.861,08 |
|
|
Wages |
1.250.424,54 |
1.414.477,15 |
1.076.618,65 |
|
|
Social security expenses |
426.710,71 |
461.654,18 |
380.242,43 |
|
|
A.4. Assets depreciation |
718.052,34 |
801.810,89 |
862.229,07 |
|
|
A.5 Variance in provision for current
assets |
14.280,28 |
55.043,09 |
|
|
|
Variance in provision for bad debts |
14.280,28 |
55.043,09 |
|
|
|
A.6. Other operating costs |
1.609.193,85 |
1.599.566,51 |
1.645.892,11 |
|
|
External costs |
1.599.469,23 |
1.589.731,21 |
1.627.924,46 |
|
|
Taxes |
9.724,62 |
9.835,30 |
17.967,65 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
961.300,67 |
906.707,15 |
1.253.628,87 |
|
|
A.7. Financial expenses |
242.347,38 |
188.462,38 |
255.642,63 |
|
|
Debts with related companies |
60.103,82 |
|
|
|
|
Other companies debts |
182.243,56 |
188.462,38 |
255.642,63 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
6.330,75 |
3.127,16 |
737,60 |
|
|
A.II. POSITIVE FINANCIAL RESULTS
(B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
|
|
|
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
713.709,29 |
718.629,55 |
997.377,64 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
|
|
|
A.11. Losses in fixed assets |
|
49.374,35 |
|
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
2.819,54 |
1.884,65 |
4.196,59 |
|
|
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) |
170.027,04 |
75.912,19 |
464.592,86 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
883.736,33 |
794.541,74 |
1.461.970,50 |
|
|
A.15. Corporate Taxes |
310.294,12 |
278.749,23 |
446.964,75 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
573.442,21 |
515.792,51 |
1.015.005,75 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
5.504.373,62 |
5.637.529,64 |
5.978.372,21 |
|
|
Sales |
5.536.244,94 |
5.688.683,69 |
6.077.955,78 |
|
|
Discounts |
-31.871,32 |
-51.154,05 |
-99.583,57 |
|
|
B.2. Increase in inventory of finished
goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
872.026,16 |
770.581,95 |
|
|
B.4. Other operating income |
145.451,69 |
115.319,71 |
33.377,42 |
|
|
Other incomes |
120.453,33 |
77.845,61 |
33.377,42 |
|
|
Grants |
24.998,36 |
37.474,10 |
|
|
|
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 |
31,93 |
|
|
|
|
From affiliated companies |
31,93 |
|
|
|
|
B.6. Income from securities |
|
|
|
|
|
B.7. Other income from interrest |
107,43 |
1.511,94 |
129,00 |
|
|
From other companies |
107,43 |
1.511,94 |
129,00 |
|
|
B.8. Gains on exchange |
947,39 |
2.000,00 |
|
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
247.591,38 |
188.077,60 |
256.251,23 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
41.550,30 |
|
328.770,60 |
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
125.027,71 |
125.027,71 |
124.457,58 |
|
|
B.12. Extraordinary income |
6.268,57 |
2.143,48 |
15.561,27 |
|
|
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) |
|
|
|
|
|
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 |
-13,09 |
2,42 |
6,05 |
|
|
Assets Turnover |
0,44 |
0,35 |
0,33 |
|
|
Productivity |
2,01 |
1,94 |
2,45 |
|
|
Increase of the Added Value |
-6,18 |
7,98 |
-1,84 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,53 |
3,24 |
5,55 |
|
|
Financial Profitability |
18,81 |
14,47 |
26,86 |
|
|
Financial Expenses |
4,40 |
3,34 |
4,28 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
86,00 |
64,00 |
115,00 |
|
|
Suppliers’ Credit (In days of sales) |
702,00 |
297,00 |
216,00 |
|
|
Working Capital (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
Working Capital Requirement (In days of
sales) |
0,00 |
0,00 |
17,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
-1.258.983,40 |
-4.590.161,72 |
-4.067.119,13 |
|
|
Working Capital Requirement |
-190.532,77 |
-3.755.849,40 |
279.582,00 |
|
|
Treasury |
-1.068.450,63 |
-834.312,32 |
-4.346.701,13 |
|
|
Balance Ratio |
0,86 |
0,63 |
0,68 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
66,13 |
69,86 |
73,22 |
|
|
Own / Permanent Funds |
40,98 |
46,48 |
44,39 |
|
|
Payback Capacity |
1,34 |
1,71 |
1,96 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
0,76 |
0,44 |
0,58 |
|
|
Immediate Liquidity |
0,01 |
0,00 |
0,01 |
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,02 |
-0,02 |
|
FIXED ASSETS |
68,75 |
50,98 |
17,77 |
|
ACCRUED EXPENSES |
0,00 |
0,44 |
-0,44 |
|
CURRENT ASSETS |
31,25 |
48,56 |
-17,31 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
20,65 |
48,27 |
-27,62 |
|
ACCRUED INCOME |
5,93 |
1,80 |
4,13 |
|
RISK AND EXPENDITURE
COVER |
0,19 |
0,93 |
-0,74 |
|
LONG-TERM CREDITORS |
19,75 |
13,29 |
6,46 |
|
SHORT-TERM CREDITORS |
53,48 |
35,70 |
17,78 |
|
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 |
Company |
|
|
2.005 |
|
|
|
Net turnover |
88,15 |
96,38 |
-8,23 |
|
Other operating income |
11,85 |
3,62 |
8,23 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
23,06 |
38,76 |
-15,71 |
|
Other operation expenses |
24,27 |
19,70 |
4,56 |
|
Added value |
52,68 |
41,53 |
11,14 |
|
Labor cost |
21,48 |
24,25 |
-2,77 |
|
Gross Economic Result |
31,20 |
17,28 |
13,91 |
|
Assets depreciation |
12,71 |
7,55 |
5,16 |
|
Variation in provision
for current assets |
0,00 |
0,20 |
-0,20 |
|
Net Economic Result |
18,48 |
9,53 |
8,96 |
|
Financial income |
0,00 |
0,60 |
-0,60 |
|
Financial expenses |
3,78 |
1,30 |
2,48 |
|
Variation in financial
investment provision |
0,00 |
0,00 |
-0,00 |
|
Ordinary Activities
Result |
14,71 |
8,83 |
5,87 |
|
Extraordinary income |
6,91 |
1,12 |
5,80 |
|
Extraordinary expenses |
0,06 |
0,53 |
-0,46 |
|
Variation in provision
in fixed assets |
0,00 |
0,28 |
-0,28 |
|
Results before Taxes |
21,56 |
9,14 |
12,41 |
|
Corporaye taxes |
6,59 |
2,31 |
4,28 |
|
Net Result |
14,97 |
6,84 |
8,13 |
|
Assets depreciation |
12,71 |
7,55 |
5,16 |
|
Provisions fund
variation |
0,00 |
0,48 |
-0,48 |
|
Net Self-Financing |
27,68 |
14,87 |
12,81 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
6,05 |
-7,75 |
6,26 |
18,30 |
|
Assets Turnover |
0,33 |
0,59 |
0,93 |
1,41 |
|
Fixed Assets Turnover |
0,48 |
1,09 |
2,11 |
4,86 |
|
Increase of the Added
Value |
-1,84 |
-6,15 |
7,21 |
15,07 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
2,45 |
1,35 |
1,69 |
2,14 |
|
Change of Personnel
Costs |
-22,35 |
2,30 |
7,92 |
15,90 |
|
Average Personnel Costs |
19.424,81 |
19.021,88 |
23.709,51 |
30.466,66 |
|
Value Added by Employees |
47.636,25 |
30.111,52 |
40.455,48 |
64.368,66 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
1.877.234,82 |
192.654,78 |
508.428,01 |
903.661,59 |
|
Operating Cash Flow |
2.115.857,94 |
233.254,98 |
601.386,14 |
971.544,87 |
|
Change in Cash Flow |
36,76 |
-14,39 |
7,00 |
26,76 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
5,55 |
0,97 |
3,82 |
8,23 |
|
Financial Profitability |
26,86 |
3,37 |
8,64 |
17,94 |
|
Financial Expenses |
4,28 |
0,19 |
0,88 |
2,00 |
|
Gross Economic
Profitability |
11,56 |
8,19 |
12,99 |
20,71 |
|
Gross Financial
Profitability |
55,99 |
20,69 |
31,48 |
53,60 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
114,00 |
70,55 |
111,03 |
150,39 |
|
Suppliers’ Credit (In
days of sales) |
215,00 |
0,00 |
0,00 |
107,45 |
|
Working Capital (In days
of sales) |
0,00 |
-14,78 |
32,99 |
100,31 |
|
Working Capital
Requirement (In days of sales) |
16,00 |
-35,10 |
7,97 |
58,32 |
|
Treasury (In days of
sales) |
0,00 |
1,51 |
12,41 |
64,04 |
|
Operating Current Assets |
344,00 |
131,93 |
188,78 |
279,73 |
|
BALANCE |
|
|
|
|
|
Working Capital |
-4.067.119,13 |
-148.743,47 |
375.123,97 |
1.169.880,14 |
|
Working Capital
Requirement |
279.582,00 |
-313.007,16 |
80.681,61 |
653.370,82 |
|
Treasury |
-4.346.701,13 |
15.078,61 |
124.058,69 |
565.589,88 |
|
Balance Ratio |
0,68 |
0,94 |
1,25 |
1,79 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
73,22 |
32,65 |
55,34 |
72,58 |
|
Own / Permanent Funds |
44,39 |
68,43 |
84,36 |
97,28 |
|
Payback Capacity |
1,96 |
0,26 |
0,43 |
0,78 |
|
Long term Indebtedness |
19,75 |
0,17 |
7,37 |
16,36 |
|
Gearing |
484,23 |
148,49 |
223,90 |
364,66 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,03 |
|
Assets Guarantee |
1,36 |
1,27 |
1,63 |
2,81 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
0,58 |
0,91 |
1,25 |
2,02 |
|
Immediate Liquidity |
0,01 |
0,03 |
0,13 |
0,66 |
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/normal. |
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 |
|