MIRA
INFORM REPORT
|
Report Date : |
15th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
GENEROS
DE PUNTO TORRAS SA |
|
|
|
|
Registered Office : |
Calle
Garraf (P I La Borda), S/N 08140 Caldes De Montbui
(Barcelona) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
05/12/1977 |
|
|
|
|
Legal Form : |
Joint
Stock Company |
|
|
|
|
Line of Business : |
Manufacture
of leather clothes. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Identification and Characteristics
Tax
Number A08484289
NAME GENEROS
DE PUNTO TORRAS SA
TRADE
NAME TORRAS
BUSINESS
ADDRESS CALLE GARRAF (P I
LA BORDA), S/N
Postcode 08140
CALDES DE MONTBUI (BARCELONA)
FORMER
ADDRESS CALLE GARRAF(PG
IND LA BORDA.), S/N
Postcode 08140
CALDES DE MONTBUI (BARCELONA)
URL http://www.torras.com
TELEPHONE 938654107
FAX 938654442
LEGAL
FORM JOINT STOCK
COMPANY
DATE
FOUNDED 05/12/1977
CAPITAL 841.428,00 Euros
PAID-UP
CAPITAL 841.428,00 Euros
NUMBER
OF EMPLOYEES 91
ACTIVITY 1443000 - Mfg.
of leather clothes
CNAE 1810 - Manufacture
of leather clothes
EXPORT
COMPANY YES
IMPORT
COMPANY YES
* Characteristics of the
main address
According to our researches
dated 24/01/2006 these are it is a/an office used
as rented located in a industrial area and it is located
in an area secondary .
Synthesis
FINANCIAL SITUATION (Year
ending: 31/12/2005)
PROFITABILITY Nil
TREASURY Excellent
BALANCE
SHEET Excellent
DEBT Medium
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 274.000,00 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 |
23.811.319,00 |
21.603.905,00 |
19.960.935,00 |
|
|
ADDED VALUE |
4.617.669,00 |
4.278.667,00 |
3.576.975,00 |
17,92 |
|
BUSINESS RESULT |
365.621,00 |
245.317,00 |
58.441,00 |
0,29 |
|
OWN FUNDS |
6.290.957,00 |
6.488.193,00 |
6.498.553,00 |
|
|
DEBT |
12.060.789,00 |
10.523.260,00 |
10.499.499,00 |
|
|
TOTAL ASSET |
18.638.700,00 |
17.102.557,00 |
17.022.530,00 |
|
The sales of 19.960.935,00
Euros show a change of -7,60% compared with
2.004 . Between 2.003 and 2.004 , this change
was -9,27% .
Added value grew by
-16,40% compared with the previous year. Shareholders equity are
6.498.553,00 Euros for an indebtedness of 10.499.499,00
Euros .
The result 58.441,00
Euros means financial profitability of 0,90% and
economic profitability of 0,34% . This result means growth of
-76,18% compared with the 2.004 .
THE FIGURES FOR THE LAST BALANCE
SHEET ARE RELEVANT:
SOURCE: FROM THE MERCANTILE
REGISTER
DATE: 19/12/2006
Results Distribution
Annual Report Year Source:
2.005
Figures given in Euros
Distribution Base
Profit
and Loss 58.441
Total
of Amounts to be distributed 58.441
Distribution a
Voluntary
Reserve 10.360
Dividends 48.081
Auditors’ opinion:
FAVOURABLE (2.005)
Auditors:
ACCURAT AUDIT S.L
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005) |
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
98,26 |
98,81 |
-0,55 |
|
ADDED
VALUE |
17,61 |
18,51 |
-0,90 |
|
BUSINESS
RESULT |
0,29 |
1,68 |
-1,39 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
38,18 |
38,14 |
0,04 |
|
DEBT |
61,68 |
61,86 |
-0,18 |
Compared sector (CNAE): 181 - Confección de prendas de
cuero
Number of companies: 4
Size (Sales Figure): 12
The turnover of the company is 0,55%
below the mean for the sector.
The company’s added value was 17,61%
s/ the production value, and 0,90% below the mean for the sector.
The company’s business result was
0,29% of the PV, 1,39% below the mean for the sector.
The company’s own resources are 38,18%
, 0,04% above the mean for the sector.
The company’s outside resources are
61,68% , 0,18% below 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 |
|
CHAIRMAN |
SERRA TORRAS JUAN |
22/01/2007 |
|
VICE-PRESIDENT |
SERRA CLERCH FRANCISCO |
22/01/2007 |
|
BOARD MEMBER |
SERRA CLERCH JOSE MARIA |
22/01/2007 |
|
AUDITOR |
LLOVERAS LLEAL AUDITORES SL |
04/08/2003 |
Functional Managers
|
Position |
Surname and name |
|
FINANCIAL MANAGER |
SOCIAS VILLALBA JOSE |
|
HUMAN RESOURCES MANAGER |
CLOPES JUAN |
|
COMMERCIAL MANAGER |
SOLEY OLLE JOSEP |
|
EXPORTS MANAGER |
GALCERAN RIVERA JOSE MARIA |
Financial Links
|
Shareholders |
||||
|
Company Name |
|
|
Source |
Information Date |
|
SERRA CLERCH JOSE MARIA |
|
Indet. |
OWN SOURCES |
24/01/2006 |
|
SERRA TORRAS JUAN |
|
Indet. |
OWN SOURCES |
24/01/2006 |
|
SERRA CLERCH ORTEGA ANTONIA |
|
Indet. |
OWN SOURCES |
24/01/2006 |
|
SERRA CLERCH JUAN RAMON |
|
Indet. |
OWN SOURCES |
24/01/2006 |
|
SERRA CLERCH FRANCISCO |
|
Indet. |
OWN SOURCES |
24/01/2006 |
|
Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
BCN FASHIONS S.A. |
ESTADOS UNIDOS |
100,00% |
OWN SOURCES |
24/01/2006 |
|
VENUS SKIN WEAR PRIVATE LTD |
INDIA |
59,00% |
OWN SOURCES |
24/01/2006 |
|
TORRAS ITALIA SRL |
ITALIA |
0,00% |
OWN SOURCES |
24/01/2006 |
|
APARICI 27 S.L. |
B61190195 |
0,00% |
M.REGISTER |
31/12/2005 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Resignations |
22/01/2007 |
035362 |
BARCELONA |
|
Appointments |
22/01/2007 |
035362 |
BARCELONA |
|
Change of statutes |
22/01/2007 |
035362 |
BARCELONA |
|
Registration of accounts
(2005) |
11/12/2006 |
977250 |
BARCELONA |
|
Registration of accounts
(2005) Consolidated |
11/12/2006 |
966995 |
BARCELONA |
Complementary Information
24001/06 BLOQUE DE INVESTIGACION:
- Domicilio social: Cl Garraf,
s/n en Caldes de Montbui (Barcelona).
Es una oficina alquilada.
- Actividad: Confeccion de
prendas de vestir.
- Realiza transacciones
intracomunitarias de sus compras y ventas.
- Realiza operaciones de
exportacion con: EE.UU. y Japon.
- Realiza operaciones de
importacion con: Asia.
----------------------------------------------------------------------
El bloque de Investigacion no
esta sujeto a actualizaciones sistemati-
cas.Los datos mostrados fueron
aportados por las fuentes consultadas
en la fecha del encabezamiento.
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
NOAN |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2608884 |
||
|
Request Date: |
20/07/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
|
Name: |
SOMINEMI |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2522032 |
||
|
Request Date: |
21/01/2003 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
|
Name: |
INTEMPORAL |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2250405 |
||
|
Request Date: |
28/07/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
|
Name: |
O-MAN |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2066846 |
||
|
Request Date: |
03/01/1997 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
|
Name: |
ALTEREGO |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2000878 |
||
|
Request Date: |
12/12/1995 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
RENEWED REGISTER |
|
Types: 25 |
|
||||
Total Marcas: 10
Commercial
Experience
PURCHASES
Import
Percentage: 40%
Imports::
Europa
y Asia
SALES
Collection
(estimated)
Cash
sales percentage 20 %
Credit
sales percentage 80 %
Export
Percentage: 40%
Exports::
EE.UU.,
Japón y Mercado Común
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO PASTOR, S.A. |
|
|
|
|
|
CAIXA D’ESTALVIS DE CATALUNYA |
|
|
|
|
|
CAIXA D’ESTALVIS DE SABADELL |
|
|
|
|
|
CAJA DE AHORROS Y PENSIONES DE BARCELONA |
|
|
|
|
|
BANCO DE SABADELL, S.A. |
0028 |
PI I MARGALL,90 |
CALDES DE MONTBUI |
BARCELONA |
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 19/12/2006
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 |
31.325,00 |
27.238,00 |
|
|
|
B) FIXED ASSETS |
1.920.811,00 |
1.512.894,00 |
1.441.021,00 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
293.705,00 |
247.763,00 |
223.070,00 |
|
|
Software |
229.712,00 |
229.712,00 |
254.711,00 |
|
|
Leasing |
184.747,00 |
184.747,00 |
184.747,00 |
|
|
Amortization |
-120.754,00 |
-166.696,00 |
-216.388,00 |
|
|
III. Tangible assets |
1.363.593,00 |
1.010.753,00 |
963.573,00 |
|
|
Property, plant and equipment |
476.827,00 |
476.827,00 |
476.827,00 |
|
|
Machinery, equipment and other |
4.186.429,00 |
3.923.104,00 |
4.099.528,00 |
|
|
Other property plant and equipement |
87.372,00 |
87.372,00 |
87.372,00 |
|
|
Other assets |
401.198,00 |
370.506,00 |
385.057,00 |
|
|
Depreciation |
-3.788.233,00 |
-3.847.056,00 |
-4.085.211,00 |
|
|
IV. Financial assets |
263.513,00 |
254.378,00 |
254.378,00 |
|
|
Shares in affiliated companies |
199.205,00 |
190.070,00 |
190.070,00 |
|
|
Other loans |
57.096,00 |
57.096,00 |
57.096,00 |
|
|
Long term deposits and guarantees |
7.212,00 |
7.212,00 |
7.212,00 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
9.700,00 |
4.768,00 |
22.110,00 |
|
|
D) CURRENT ASSETS |
16.676.864,00 |
15.557.657,00 |
15.559.399,00 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
5.802.536,00 |
5.610.287,00 |
6.268.247,00 |
|
|
Raw material inventory |
1.451.978,00 |
1.429.582,00 |
1.029.629,00 |
|
|
Work in Progress |
911.166,00 |
905.533,00 |
1.584.421,00 |
|
|
Finished goods |
2.774.569,00 |
2.529.402,00 |
2.773.921,00 |
|
|
Subproducts and recycled materials |
664.823,00 |
745.770,00 |
880.276,00 |
|
|
III. Debtors |
9.601.452,00 |
8.380.363,00 |
7.880.189,00 |
|
|
Clients |
8.311.924,00 |
7.090.954,00 |
7.177.353,00 |
|
|
Amounts owned by affiliated companies |
1.347.167,00 |
1.219.444,00 |
598.679,00 |
|
|
Other debts |
1.770,00 |
|
|
|
|
Taxes refunds |
|
123.736,00 |
168.494,00 |
|
|
Provisions |
-59.409,00 |
-53.771,00 |
-64.337,00 |
|
|
IV. Short term financial assets |
|
|
|
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
1.272.876,00 |
1.567.007,00 |
1.410.963,00 |
|
|
VII. Prepaid expenses and accrued income |
|
|
|
|
|
ASSETS (A + B + C + D) |
18.638.700,00 |
17.102.557,00 |
17.022.530,00 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12) |
31/12/2004 (12) |
31/12/2005 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
6.290.957,00 |
6.488.193,00 |
6.498.553,00 |
|
|
I. Capital |
841.428,00 |
841.428,00 |
841.428,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
190.153,00 |
190.153,00 |
190.153,00 |
|
|
IV. Reserves |
4.893.755,00 |
5.211.295,00 |
5.408.531,00 |
|
|
Retained earnings |
168.285,00 |
168.285,00 |
168.285,00 |
|
|
Other funds |
4.725.470,00 |
5.043.010,00 |
5.240.246,00 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
365.621,00 |
245.317,00 |
58.441,00 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
286.954,00 |
91.104,00 |
24.478,00 |
|
|
Rate difference |
286.954,00 |
91.104,00 |
24.478,00 |
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
592.225,00 |
431.561,00 |
445.692,00 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
470.435,00 |
343.002,00 |
354.462,00 |
|
|
Long term bank loans |
373.037,00 |
289.407,00 |
342.384,00 |
|
|
Leasing |
97.398,00 |
53.595,00 |
12.078,00 |
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
121.790,00 |
88.559,00 |
91.230,00 |
|
|
Taxes receivable |
121.790,00 |
88.559,00 |
91.230,00 |
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
11.468.564,00 |
10.091.699,00 |
10.053.807,00 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
9.035.038,00 |
8.115.992,00 |
8.130.893,00 |
|
|
Loans and other debts |
8.992.138,00 |
8.073.092,00 |
8.090.277,00 |
|
|
Leasing |
42.900,00 |
42.900,00 |
40.616,00 |
|
|
III. Short term debts with associated and
affiliated companies |
49.777,00 |
85.475,00 |
|
|
|
With affiliated companies |
49.777,00 |
85.475,00 |
|
|
|
IV. Trade creditors |
1.816.238,00 |
1.500.818,00 |
1.605.921,00 |
|
|
Expenses |
1.816.238,00 |
1.500.818,00 |
1.605.921,00 |
|
|
V. Other non trade payables |
555.557,00 |
377.460,00 |
305.039,00 |
|
|
Government |
341.314,00 |
170.007,00 |
105.205,00 |
|
|
Other debts |
|
3.000,00 |
199.834,00 |
|
|
Accounts receivable |
214.243,00 |
204.453,00 |
|
|
|
VI. Provisions for current assets |
|
|
|
|
|
VII. Accruals and deferred incomes |
11.954,00 |
11.954,00 |
11.954,00 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
18.638.700,00 |
17.102.557,00 |
17.022.530,00 |
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.16) |
|
|
|
|
|
A.1. Change in stocks of finished goods
and work in progress |
764.123,00 |
421.980,00 |
|
|
|
A.2. Supplies |
15.640.449,00 |
14.089.503,00 |
14.393.427,00 |
|
|
Material consumed |
9.717.722,00 |
10.337.207,00 |
10.523.305,00 |
|
|
Raw materials consumed |
5.018.510,00 |
2.830.236,00 |
3.614.241,00 |
|
|
Other expenses |
904.217,00 |
922.060,00 |
255.881,00 |
|
|
A.3. Labor cost |
3.070.527,00 |
3.171.398,00 |
2.765.406,00 |
|
|
Wages |
2.400.557,00 |
2.590.614,00 |
2.222.702,00 |
|
|
Social security expenses |
669.970,00 |
580.784,00 |
542.704,00 |
|
|
A.4. Assets depreciation |
424.982,00 |
387.187,00 |
304.050,00 |
|
|
A.5 Variance in provision for current assets |
65.919,00 |
64.292,00 |
|
|
|
Variance in provision for bad debts |
65.919,00 |
64.292,00 |
|
|
|
A.6. Other operating costs |
3.166.827,00 |
3.134.081,00 |
3.363.101,00 |
|
|
External costs |
3.160.238,00 |
3.127.148,00 |
3.267.322,00 |
|
|
Taxes |
6.589,00 |
6.933,00 |
7.396,00 |
|
|
Other day to day expenses |
|
|
88.383,00 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
1.056.241,00 |
655.790,00 |
507.519,00 |
|
|
A.7. Financial expenses |
598.400,00 |
432.259,00 |
493.671,00 |
|
|
Other companies debts |
598.400,00 |
432.259,00 |
493.671,00 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
380.645,00 |
224.860,00 |
147.387,00 |
|
|
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) |
485.072,00 |
249.871,00 |
44.362,00 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
|
|
|
A.11. Losses in fixed assets |
16.373,00 |
9.934,00 |
|
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
|
|
|
|
|
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) |
1.513,00 |
55.283,00 |
31.701,00 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
486.585,00 |
305.154,00 |
76.063,00 |
|
|
A.15. Corporate Taxes |
120.964,00 |
59.837,00 |
17.622,00 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
365.621,00 |
245.317,00 |
58.441,00 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
23.811.319,00 |
21.603.905,00 |
19.960.935,00 |
|
|
Sales |
23.811.319,00 |
21.603.905,00 |
19.960.935,00 |
|
|
B.2. Increase in inventory of finished
goods |
|
|
1.019.970,00 |
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
377.749,00 |
320.326,00 |
352.598,00 |
|
|
Other incomes |
377.749,00 |
320.326,00 |
352.598,00 |
|
|
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 |
5.178,00 |
3.467,00 |
2.926,00 |
|
|
From other companies |
5.178,00 |
3.467,00 |
2.926,00 |
|
|
B.8. Gains on exchange |
402.698,00 |
247.733,00 |
174.975,00 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
571.169,00 |
405.919,00 |
463.157,00 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
266,00 |
49.833,00 |
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
17.620,00 |
15.384,00 |
31.701,00 |
|
|
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 |
-3,87 |
-9,27 |
-7,60 |
|
|
Assets Turnover |
1,28 |
1,26 |
1,17 |
|
|
Productivity |
1,50 |
1,35 |
1,29 |
|
|
Increase of the Added Value |
4,19 |
-7,34 |
-16,40 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
1,96 |
1,43 |
0,34 |
|
|
Financial Profitability |
5,81 |
3,78 |
0,90 |
|
|
Financial Expenses |
2,51 |
2,00 |
2,47 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
145,00 |
140,00 |
142,00 |
|
|
Suppliers’ Credit (In days of sales) |
40,00 |
37,00 |
43,00 |
|
|
Working Capital (In days of sales) |
79,00 |
91,00 |
99,00 |
|
|
Working Capital Requirement (In days of
sales) |
197,00 |
201,00 |
220,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
5.208.300,00 |
5.465.958,00 |
5.505.592,00 |
|
|
Working Capital Requirement |
13.001.787,00 |
12.042.181,00 |
12.225.522,00 |
|
|
Treasury |
-7.762.162,00 |
-6.548.985,00 |
-6.719.930,00 |
|
|
Balance Ratio |
3,70 |
4,60 |
4,76 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
64,71 |
61,53 |
61,68 |
|
|
Own / Permanent Funds |
87,69 |
92,52 |
93,25 |
|
|
Payback Capacity |
0,50 |
0,48 |
0,52 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,45 |
1,54 |
1,55 |
|
|
Immediate Liquidity |
0,11 |
0,16 |
0,14 |
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 |
0,11 |
-0,11 |
|
FIXED ASSETS |
8,47 |
13,45 |
-4,98 |
|
ACCRUED EXPENSES |
0,13 |
0,10 |
0,03 |
|
CURRENT ASSETS |
91,40 |
86,34 |
5,06 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
38,18 |
38,14 |
0,04 |
|
ACCRUED INCOME |
0,14 |
1,09 |
-0,95 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,00 |
0,00 |
|
LONG-TERM CREDITORS |
2,62 |
2,59 |
0,03 |
|
SHORT-TERM CREDITORS |
59,06 |
58,18 |
0,88 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,00 |
0,00 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Net turnover |
98,26 |
98,81 |
-0,55 |
|
Other operating income |
1,74 |
1,19 |
0,55 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
65,84 |
70,68 |
-4,84 |
|
Other operation expenses |
16,56 |
10,81 |
5,75 |
|
Added value |
17,61 |
18,51 |
-0,90 |
|
Labor cost |
13,61 |
11,86 |
1,76 |
|
Gross Economic Result |
4,00 |
6,66 |
-2,66 |
|
Assets depreciation |
1,50 |
1,59 |
-0,10 |
|
Variation in provision
for current assets |
0,00 |
0,50 |
-0,50 |
|
Net Economic Result |
2,50 |
4,56 |
-2,06 |
|
Financial income |
0,88 |
1,02 |
-0,14 |
|
Financial expenses |
3,16 |
3,20 |
-0,05 |
|
Variation in financial
investment provision |
0,00 |
0,00 |
0,00 |
|
Ordinary Activities
Result |
0,22 |
2,37 |
-2,16 |
|
Extraordinary income |
0,16 |
0,06 |
0,10 |
|
Extraordinary expenses |
0,00 |
0,06 |
-0,06 |
|
Variation in provision
in fixed assets |
0,00 |
0,00 |
0,00 |
|
Results before Taxes |
0,37 |
2,38 |
-2,00 |
|
Corporaye taxes |
0,09 |
0,70 |
-0,61 |
|
Net Result |
0,29 |
1,68 |
-1,39 |
|
Assets depreciation |
1,50 |
1,59 |
-0,10 |
|
Provisions fund
variation |
0,00 |
0,50 |
-0,50 |
|
Net Self-Financing |
1,78 |
3,77 |
-1,99 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-7,60 |
-14,06 |
-5,34 |
21,13 |
|
Assets Turnover |
1,17 |
1,32 |
1,49 |
1,57 |
|
Fixed Assets Turnover |
13,64 |
6,57 |
12,22 |
12,88 |
|
Increase of the Added
Value |
-16,40 |
-25,75 |
-4,83 |
4,66 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,29 |
1,46 |
1,65 |
1,82 |
|
Change of Personnel
Costs |
-12,80 |
-32,25 |
2,10 |
9,73 |
|
Average Personnel Costs |
35.005,14 |
7.059,38 |
14.959,30 |
26.934,45 |
|
Value Added by Employees |
45.278,16 |
12.948,12 |
26.772,91 |
40.505,87 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
362.491,00 |
124.763,88 |
268.830,63 |
739.592,25 |
|
Operating Cash Flow |
811.569,00 |
282.148,63 |
418.949,88 |
1.299.166,50 |
|
Change in Cash Flow |
-47,98 |
-17,33 |
17,36 |
35,30 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
0,34 |
1,38 |
2,18 |
4,51 |
|
Financial Profitability |
0,90 |
3,33 |
6,20 |
22,10 |
|
Financial Expenses |
2,47 |
1,46 |
2,26 |
2,52 |
|
Gross Economic
Profitability |
4,77 |
8,05 |
8,47 |
13,86 |
|
Gross Financial
Profitability |
12,49 |
17,58 |
22,16 |
79,87 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
142,00 |
2,89 |
43,12 |
127,55 |
|
Suppliers’ Credit (In
days of sales) |
43,00 |
0,00 |
19,93 |
49,98 |
|
Working Capital (In days
of sales) |
99,00 |
6,30 |
57,94 |
143,40 |
|
Working Capital
Requirement (In days of sales) |
220,00 |
-2,69 |
77,60 |
175,20 |
|
Treasury (In days of
sales) |
0,00 |
-85,80 |
9,11 |
34,22 |
|
Operating Current Assets |
280,00 |
164,88 |
213,20 |
243,62 |
|
BALANCE |
|
|
|
|
|
Working Capital |
5.505.592,00 |
105.159,29 |
1.512.168,19 |
4.318.462,00 |
|
Working Capital
Requirement |
12.225.522,00 |
-23.649,37 |
1.134.053,15 |
9.987.430,50 |
|
Treasury |
-6.719.930,00 |
-5.790.820,12 |
134.411,81 |
494.363,52 |
|
Balance Ratio |
4,76 |
0,99 |
2,56 |
5,84 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
61,68 |
28,89 |
59,50 |
84,97 |
|
Own / Permanent Funds |
93,25 |
91,47 |
94,53 |
99,34 |
|
Payback Capacity |
0,52 |
0,18 |
0,41 |
0,57 |
|
Long term Indebtedness |
2,62 |
0,06 |
1,71 |
4,01 |
|
Gearing |
261,94 |
147,78 |
253,98 |
927,64 |
|
Financing Basic Ratio |
1,00 |
0,96 |
1,01 |
1,03 |
|
Assets Guarantee |
1,62 |
1,17 |
1,66 |
4,04 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,55 |
1,07 |
1,40 |
3,51 |
|
Immediate Liquidity |
0,14 |
0,05 |
0,10 |
0,64 |
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 |
|