MIRA
INFORM REPORT
|
Report Date : |
17th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
CORDON
SA |
|
|
|
|
Registered Office : |
Calle
Claudio Coello, 25 28001 Madrid (Madrid) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
06.06.1986 |
|
|
|
|
Legal Form : |
Joint
Stock Company |
|
|
|
|
Line of Business : |
Retail
sale of clothing. |
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 A78288206
NAME CORDON
SA
BUSINESS
ADDRESS CALLE CLAUDIO
COELLO, 25
Postcode 28001
MADRID (MADRID)
URL http://www.cordon-sa.com
TELEPHONE 916363095
FAX 916363095
LEGAL
FORM JOINT STOCK
COMPANY
DATE
FOUNDED 06/06/1986
CAPITAL 60.101,21 Euros
PAID-UP
CAPITAL 60.101,21 Euros
NUMBER
OF EMPLOYEES 15
ACTIVITY 1651200 - Retail
sale of clothes
CNAE 5242 - Retail
sale of clothing
EXPORT
COMPANY YES
IMPORT
COMPANY YES
* Characteristics of the
main address
According to our investigations
dated 04/01/2005 these premises are owned; with no official
confirmation used as office, warehouse located in a
main commercial area .
Synthesis
FINANCIAL SITUATION (Year
ending: 31/12/2005)
PROFITABILITY Nil
TREASURY Very
good
BALANCE
SHEET Excellent
DEBT Medium
INCIDENTS
COMMITMENTS Respected
INCIDENTS None
or Negligible
PREVIOUS EXPERIENCE
PREVIOUS
EXPERIENCE Normal
Credit Appraisal
CREDIT ACCORDING TO OBJECTIVE
DATA (From 0 to 6.000.000,00 Euros):
FAVOURABLE
TOWARDS 22.838,46 Max.
Financial Elements
Figures given in Euros
|
|
Balance sheet 2.003 (12) |
Balance sheet 2.004 (12) |
Balance sheet 2.005 (12) |
% Sales |
|
SALES |
1.051.116,59 |
1.308.643,90 |
1.401.762,79 |
|
|
ADDED VALUE |
246.158,46 |
245.723,40 |
257.256,87 |
18,35 |
|
BUSINESS RESULT |
13.523,09 |
19.719,79 |
11.753,84 |
0,84 |
|
OWN FUNDS |
139.817,45 |
159.537,24 |
171.291,08 |
|
|
DEBT |
570.418,62 |
554.590,04 |
590.564,11 |
|
|
TOTAL ASSET |
710.236,07 |
714.127,28 |
761.855,19 |
|
The sales of 1.401.762,79
Euros show a change of 7,12% compared with
2.004 . Between 2.003 and 2.004 , this change
was 24,50% .
Added value grew by
4,69% compared with the previous year. Shareholders equity are
171.291,08 Euros for an indebtedness of 590.564,11
Euros .
The result 11.753,84
Euros means financial profitability of 6,86% and
economic profitability of 1,54% . This result means growth of
-40,40% compared with the 2.004 .
THE FIGURES FOR THE LAST BALANCE
SHEET ARE RELEVANT:
SOURCE: FROM THE MERCANTILE
REGISTER
DATE: 15/11/2006
Results Distribution
Annual Report Year Source:
2.003
Figures given in Euros
Distribution Base
Profit
and Loss 13.523
Total
of Amounts to be distributed 13.523
Distribution a
Retained
earnings 1.352
Prior
years losses 12.171
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005) |
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
100,00 |
98,84 |
1,16 |
|
ADDED
VALUE |
18,35 |
21,72 |
-3,37 |
|
BUSINESS
RESULT |
0,84 |
2,18 |
-1,34 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
22,48 |
35,93 |
-13,45 |
|
DEBT |
77,52 |
64,07 |
13,45 |
Compared sector (CNAE): 524 - Otro comercio al por menor
de artículos nuevos en establecimientos especializados
Number of companies: 11.036
Size (Sales Figure): 0 - 2.800.000,00 Euros
The turnover of the company is 1,16%
above the mean for the sector.
The company’s added value was 18,35%
s/ the production value, and 3,37% below the mean for the sector.
The company’s business result was
0,84% of the PV, 1,34% below the mean for the sector.
The company’s own resources are 22,48%
, 13,45% below the mean for the sector.
The company’s outside resources are
77,52% , 13,45% 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 28/06/2001 ) |
|
|
0 |
|
|
0 |
|
|
1 |
|
AFFECTED BY: No significant elemento |
|
With
the Social Security:
|
Last claim filed against the
administration |
|
(Figures given in Euros) |
|
||||
|
Rest of Organisms: 1 |
||||
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|
||||
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Information Date |
Organization |
|
|
|
|
28/06/2001 |
TOWN/ CITY HALL DE MADRID |
|
|
|
|
||||
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of appointment |
|
CHAIRMAN |
ROCA ORTEGA SOFIA |
04/05/2006 |
|
VICE-PRESIDENT |
FERNANDEZ PENA JOSE RAMON |
04/05/2006 |
|
BOARD MEMBER |
ROCA ORTEGA MIGUEL |
04/05/2006 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
ROCA ORTEGA MIGUEL |
Financial Links
|
Shareholders |
||||
|
Company Name |
|
|
Source |
Information Date |
|
ROCA ORTEGA SOFIA |
|
75,00% |
OWN SOURCES |
06/10/2006 |
|
ROCA ORTEGA MIGUEL |
|
25,00% |
OWN SOURCES |
06/10/2006 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2005) |
27/09/2006 |
557623 |
MADRID |
|
Re-elections |
04/05/2006 |
231140 |
MADRID |
|
Change of statutes |
04/05/2006 |
231140 |
MADRID |
|
Registration of accounts
(2004) |
09/01/2006 |
014547 |
MADRID |
|
Registration of accounts
(2003) |
05/11/2004 |
767427 |
MADRID |
Complementary Information
15/02/07 BLOQUE DE INVESTIGACION
- Direccion de oficina en: Pg Ind
Europolis. Cl Cabo Rufino Lazaro 8
28230 Las Rozas (Madrid)
----------------------------------------------------------------------
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.
Remarks for customer
The address included in your enquiry ( Cabo
Rufino Lazaro 8 Pg Ind Europolis Las Rozas Madrid) belongs to an office.
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
CORDON |
||||
|
Kind of Brand: |
JOINT |
File: |
M2484061 |
||
|
Request Date: |
19/06/2002 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 35 |
|
||||
|
Name: |
CORDON CENTRO |
||||
|
Kind of Brand: |
JOINT |
File: |
M2114224 |
||
|
Request Date: |
18/09/1997 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
|
Prevailing Signs |
|||||
|
Name: |
CORDON CENTRO |
||||
|
Kind of Brand: |
JOINT |
File: |
R259353 |
||
|
Request Date: |
18/09/1997 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
|
|
||||
Total Marcas: 3
Branches
|
Road |
Postal Code |
Town |
Province |
|
CABO RUFINO LAZARO |
28232 |
LAS ROZAS DE MADRID |
MADRID |
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO POPULAR ESPAŃOL, S.A. |
|
|
MADRID |
|
|
BARCLAYS BANK, S.A. |
|
|
MADRID |
|
|
CAJA DE AHORROS Y PENSIONES DE BARCELONA |
|
|
MADRID |
|
|
BANCO SANTANDER CENTRAL HISPANO, S.A. |
0001 |
PLAZA DE CANALEJAS, 1 |
MADRID |
MADRID |
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 15/11/2006
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 |
50.526,79 |
33.461,79 |
105.291,75 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
8.350,00 |
7.350,00 |
38.595,86 |
|
|
III. Tangible assets |
27.879,20 |
11.814,20 |
20.481,07 |
|
|
IV. Financial assets |
14.285,05 |
14.285,05 |
46.202,28 |
|
|
V. Owners equity |
12,54 |
12,54 |
12,54 |
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
1.819,33 |
|
|
D) CURRENT ASSETS |
659.709,28 |
680.665,49 |
654.744,11 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
559.012,64 |
662.095,09 |
637.253,27 |
|
|
III. Debtors |
69.152,98 |
18.270,40 |
16.590,84 |
|
|
IV. Short term financial assets |
23.500,00 |
|
|
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
7.743,66 |
|
|
|
|
VII. Prepaid expenses and accrued income |
300,00 |
300,00 |
900,00 |
|
|
ASSETS (A + B + C + D) |
710.236,07 |
714.127,28 |
761.855,19 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12) |
31/12/2004 (12) |
31/12/2005 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
139.817,45 |
159.537,24 |
171.291,08 |
|
|
I. Capital |
60.101,21 |
60.101,21 |
60.101,21 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
82.171,76 |
83.524,07 |
85.496,05 |
|
|
Sundry reserves |
82.171,76 |
83.524,07 |
85.496,05 |
|
|
V. Prior year earnings |
-15.978,61 |
-3.807,83 |
13.939,98 |
|
|
VI. Prior year profit or losses |
13.523,09 |
19.719,79 |
11.753,84 |
|
|
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 |
23.268,00 |
13.803,36 |
45.493,95 |
|
|
E) SHORT TERM LIABILITIES |
547.150,62 |
540.786,68 |
545.070,16 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
710.236,07 |
714.127,28 |
761.855,19 |
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.15) |
|
|
|
|
|
A.1 Operating Expenses |
545.394,16 |
763.125,71 |
829.339,10 |
|
|
A.3. Labor cost |
198.661,88 |
199.358,37 |
228.459,38 |
|
|
Wages |
163.267,03 |
164.640,04 |
190.030,33 |
|
|
Social security expenses |
35.394,85 |
34.718,33 |
38.429,05 |
|
|
A.3. Assets depreciation |
6.969,42 |
17.065,00 |
6.582,14 |
|
|
A.4. Variance in provision for current
assets |
12.238,32 |
-33,84 |
4.488,61 |
|
|
A.5. Other operating costs |
259.563,97 |
299.794,79 |
315.166,82 |
|
|
A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
28.288,84 |
29.333,87 |
17.726,74 |
|
|
A.6. Financial expenses |
22.421,39 |
8.206,06 |
4.451,40 |
|
|
Debts with related companies |
22.421,39 |
|
|
|
|
Other companies debts |
|
8.206,06 |
4.451,40 |
|
|
A.7. Variation in financial investments
provision |
|
|
|
|
|
A.8. Exchange losses |
|
|
|
|
|
A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
|
|
1.018,43 |
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
5.867,45 |
21.127,81 |
18.745,17 |
|
|
A.9. Variation in provision in fixed
assets |
|
|
|
|
|
A.10. Losses in fixed assets |
|
|
|
|
|
A.11. Losses from shares and bonds |
|
|
|
|
|
A.12. Extraordinary charges |
5.748,24 |
511,85 |
10.024,09 |
|
|
A.13. Prior year’s expenses and losses |
|
|
|
|
|
A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
7.655,64 |
|
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
13.523,09 |
21.110,20 |
16.791,20 |
|
|
A.14. Corporate Taxes |
|
1.390,41 |
5.037,36 |
|
|
A.15. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
13.523,09 |
19.719,79 |
11.753,84 |
|
|
B) INCOMES (B.1 a B.8) |
|
|
|
|
|
B.1. Operating income |
1.051.116,59 |
1.308.643,90 |
1.401.762,79 |
|
|
Turnover |
1.051.116,59 |
1.308.643,90 |
1.401.762,79 |
|
|
B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
|
|
B.2. Financial Income |
|
|
5.469,83 |
|
|
Other |
|
|
15,33 |
|
|
Gains from investments |
|
|
5.454,50 |
|
|
B.3. Gains on exchange |
|
|
|
|
|
B.II. FINANCIAL LOSSES (A.6+A.7+A.8-B.2-B.3) |
22.421,39 |
8.206,06 |
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.4. Gains from disposal of fixed assets |
|
|
|
|
|
B.5. Gains from dealing in own shares |
|
|
|
|
|
B.6. Paid in surplus |
|
|
|
|
|
B.7. Extraordinary income |
13.403,88 |
494,24 |
8.070,12 |
|
|
B.8. Prior year’s income and profits |
|
|
|
|
|
B.IV. EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
17,61 |
1.953,97 |
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
|
|
|
|
B.VI. NET LOSS (B.V+A.14+A.15) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
10,11 |
24,50 |
7,12 |
|
|
Assets Turnover |
1,48 |
1,83 |
1,84 |
|
|
Productivity |
1,24 |
1,23 |
1,13 |
|
|
Increase of the Added Value |
6,84 |
-0,18 |
4,69 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
1,90 |
2,76 |
1,54 |
|
|
Financial Profitability |
9,67 |
12,36 |
6,86 |
|
|
Financial Expenses |
2,13 |
0,63 |
0,32 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
24,00 |
5,00 |
4,00 |
|
|
Suppliers’ Credit (In days of sales) |
|
|
|
|
|
Working Capital (In days of sales) |
39,00 |
38,00 |
28,00 |
|
|
Working Capital Requirement (In days of
sales) |
28,00 |
38,00 |
28,00 |
|
|
Treasury (In days of sales) |
11,00 |
|
|
|
|
BALANCE |
|
|
|
|
|
Working Capital |
112.558,66 |
139.878,81 |
109.673,95 |
|
|
Working Capital Requirement |
81.315,00 |
139.878,81 |
109.673,95 |
|
|
Treasury |
31.243,66 |
|
|
|
|
Balance Ratio |
3,23 |
5,18 |
2,02 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
80,31 |
77,66 |
77,52 |
|
|
Own / Permanent Funds |
85,73 |
92,04 |
79,01 |
|
|
Payback Capacity |
0,53 |
0,42 |
0,42 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,21 |
1,26 |
1,20 |
|
|
Immediate Liquidity |
0,06 |
|
|
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 |
0,07 |
-0,07 |
|
FIXED ASSETS |
13,82 |
33,31 |
-19,49 |
|
ACCRUED EXPENSES |
0,24 |
0,45 |
-0,21 |
|
CURRENT ASSETS |
85,94 |
66,16 |
19,78 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
22,48 |
35,93 |
-13,45 |
|
ACCRUED INCOME |
0,00 |
0,19 |
-0,19 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,06 |
-0,06 |
|
LONG-TERM CREDITORS |
5,97 |
14,34 |
-8,37 |
|
SHORT-TERM CREDITORS |
71,55 |
49,42 |
22,13 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,06 |
-0,06 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Net turnover |
100,00 |
98,84 |
1,16 |
|
Other operating income |
0,00 |
1,16 |
-1,16 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
59,16 |
67,19 |
-8,03 |
|
Other operation expenses |
22,48 |
11,09 |
11,40 |
|
Added value |
18,35 |
21,72 |
-3,37 |
|
Labor cost |
16,30 |
16,16 |
0,13 |
|
Gross Economic Result |
2,05 |
5,56 |
-3,50 |
|
Assets depreciation |
0,47 |
1,86 |
-1,39 |
|
Variation in provision
for current assets |
0,32 |
0,09 |
0,23 |
|
Net Economic Result |
1,26 |
3,60 |
-2,34 |
|
Financial income |
0,39 |
0,22 |
0,17 |
|
Financial expenses |
0,32 |
1,06 |
-0,74 |
|
Variation in financial
investment provision |
0,00 |
-0,00 |
0,00 |
|
Ordinary Activities
Result |
1,34 |
2,76 |
-1,43 |
|
Extraordinary income |
0,58 |
0,41 |
0,17 |
|
Extraordinary expenses |
0,72 |
0,16 |
0,56 |
|
Variation in provision
in fixed assets |
0,00 |
0,00 |
-0,00 |
|
Results before Taxes |
1,20 |
3,01 |
-1,82 |
|
Corporaye taxes |
0,36 |
0,84 |
-0,48 |
|
Net Result |
0,84 |
2,18 |
-1,34 |
|
Assets depreciation |
0,47 |
1,86 |
-1,39 |
|
Provisions fund
variation |
0,32 |
0,09 |
0,23 |
|
Net Self-Financing |
1,63 |
4,13 |
-2,50 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
7,12 |
-6,11 |
2,83 |
12,89 |
|
Assets Turnover |
1,84 |
1,09 |
1,66 |
2,41 |
|
Fixed Assets Turnover |
13,09 |
3,33 |
8,08 |
19,39 |
|
Increase of the Added
Value |
4,69 |
-6,42 |
3,50 |
14,22 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,13 |
1,14 |
1,28 |
1,51 |
|
Change of Personnel
Costs |
14,60 |
-1,09 |
6,05 |
16,73 |
|
Average Personnel Costs |
|
12.905,88 |
16.593,77 |
21.454,96 |
|
Value Added by Employees |
|
16.580,34 |
22.010,87 |
29.657,02 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
22.824,59 |
5.533,92 |
13.733,33 |
31.534,80 |
|
Operating Cash Flow |
28.797,49 |
7.542,28 |
19.143,74 |
44.360,22 |
|
Change in Cash Flow |
-37,89 |
-25,85 |
-2,30 |
19,66 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
1,54 |
0,78 |
2,10 |
4,63 |
|
Financial Profitability |
6,86 |
3,21 |
8,69 |
17,17 |
|
Financial Expenses |
0,32 |
0,14 |
0,65 |
1,58 |
|
Gross Economic
Profitability |
3,78 |
4,23 |
7,47 |
11,86 |
|
Gross Financial
Profitability |
16,81 |
13,87 |
28,57 |
53,75 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
4,00 |
3,39 |
22,50 |
63,34 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
28,00 |
1,69 |
30,59 |
77,12 |
|
Working Capital
Requirement (In days of sales) |
28,00 |
-27,06 |
5,75 |
45,44 |
|
Treasury (In days of
sales) |
|
5,47 |
18,35 |
44,87 |
|
Operating Current Assets |
168,00 |
101,79 |
150,27 |
225,03 |
|
BALANCE |
|
|
|
|
|
Working Capital |
109.673,95 |
1.137,40 |
32.269,32 |
104.829,74 |
|
Working Capital
Requirement |
109.673,95 |
-28.800,61 |
5.192,23 |
54.520,01 |
|
Treasury |
|
4.972,73 |
19.733,75 |
59.744,46 |
|
Balance Ratio |
2,02 |
1,03 |
1,72 |
3,65 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
77,52 |
52,61 |
72,86 |
85,61 |
|
Own / Permanent Funds |
79,01 |
51,96 |
89,19 |
100,00 |
|
Payback Capacity |
0,42 |
0,24 |
0,38 |
0,62 |
|
Long term Indebtedness |
5,97 |
0,00 |
3,83 |
20,61 |
|
Gearing |
444,77 |
211,02 |
368,49 |
694,98 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,29 |
1,14 |
1,34 |
1,85 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,20 |
1,01 |
1,27 |
1,85 |
|
Immediate Liquidity |
|
0,04 |
0,17 |
0,48 |
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 |
|