MIRA
INFORM REPORT
|
Report Date : |
19th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
ANALCO
AUXILIAR CALZADO S.A. |
|
|
|
|
Registered Office : |
Carretera
Crevillente Km, 3, 03205 Elche (Alicante) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.08.2004 |
|
|
|
|
Date of Incorporation : |
18.12.1995 |
|
|
|
|
Legal Form : |
Joint
Stock Company |
|
|
|
|
Line of Business : |
Manufacture
of footwear. |
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 |
|
|
|
|
Litigation : |
Clear |
Identification and
Characteristics
Tax
Number A53075321
NAME ANALCO
AUXILIAR CALZADO S.A.
BUSINESS
ADDRESS CARRETERA
CREVILLENTE KM, 3
Postcode 03205
ELCHE (ALICANTE)
URL http://www.analco.es
TELEPHONE 966661212
FAX 966660708
LEGAL
FORM JOINT STOCK
COMPANY
DATE
FOUNDED 18/12/1995
CAPITAL 301.000,00 Euros
PAID-UP
CAPITAL 301.000,00 Euros
NUMBER
OF EMPLOYEES 100
ACTIVITY 1451000 - Mfg.
of footwear (mass production)
CNAE 1930 - Manufacture
of footwear
EXPORT
COMPANY YES
* Characteristics of the
main address
According to our investigations
dated 04/05/2006 these premises are rented used
as office, warehouse .
Synthesis
FINANCIAL SITUATION (Year
ending: 31/08/2004)
PROFITABILITY Medium
TREASURY Excellent
BALANCE
SHEET Excellent
DEBT Low
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 568.000,00 Max. Euros
Financial Elements
Figures given in Euros
|
|
Balance sheet .003 (12) |
Balance sheet 2.004 (12) |
Estimate 2.005 (12) |
|
SALES |
30.799.509,42 |
29.435.291,33 |
30.318.350,04 |
|
ADDED VALUE |
4.422.831,09 |
4.804.988,65 |
|
|
BUSINESS RESULT |
679.273,29 |
1.087.699,67 |
|
|
OWN FUNDS |
12.662.138,86 |
12.869.561,07 |
|
|
DEBT |
13.604.083,23 |
15.446.897,64 |
|
|
TOTAL ASSET |
26.266.222,09 |
28.316.458,71 |
|
The sales of 29.435.291,33
Euros show a change of -4,43% compared with
2.003 .
Added value grew by
8,64% compared with the previous year. Shareholders equity are
12.869.561,07 Euros for an indebtedness of
15.446.897,64 Euros .
The result 1.087.699,67
Euros means financial profitability of 8,45% and
economic profitability of 3,84% . This result means growth of
60,13% compared with the 2.003 .
THE FIGURES FOR THE LAST BALANCE
SHEET ARE RELEVANT:
SOURCE: FROM THE MERCANTILE
REGISTER
DATE: 31/01/2006
Results Distribution
Annual Report Year Source:
2.004
Figures given in Euros
Distribution Base
Profit
and Loss 1.087.700
Total
of Amounts to be distributed 1.087.700
Distribution a
Voluntary
Reserve 1.087.700
Auditors’ opinion:
FAVOURABLE (2.004)
Auditors:
ECONS AUDITORES S.C.P.
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.004) |
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
99,05 |
99,32 |
-0,27 |
|
ADDED
VALUE |
16,17 |
15,17 |
1,00 |
|
BUSINESS
RESULT |
3,66 |
2,40 |
1,26 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
45,45 |
37,22 |
8,23 |
|
DEBT |
54,55 |
62,78 |
-8,23 |
Compared sector (CNAE): 193 - Fabricación de calzado
Number of companies: 36
Size (Sales Figure): > 7.000.000,00 Euros
The turnover of the company is 0,27%
below the mean for the sector.
The company’s added value was 16,17%
s/ the production value, and 1,00% above the mean for the sector.
The company’s business result was
3,66% of the PV, 1,26% above the mean for the sector.
The company’s own resources are 45,45%
, 8,23% above the mean for the sector.
The company’s outside resources are
54,55% , 8,23% 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: 2 Company
/ Companies in Insolvency Proceedings
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of appointment |
|
SOLE ADMINISTRATOR |
ALONSO COVES ANDRES |
22/03/2005 |
|
AUDITOR |
ECONS AUDITORES SOCIEDAD CIVIL |
24/11/2006 |
Functional Managers
|
Position |
Surname and name |
|
FINANCIAL MANAGER |
CAMPILLO LOPEZ JUAN |
|
HUMAN RESOURCES MANAGER |
LLOBREGAT JOSE |
|
EXPORTS MANAGER |
CAMPILLO LOPEZ JUAN |
|
MANAGER |
ALONSO COVES ANDRES |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
ALONSO COVES ANDRES |
|
50,00% |
OWN SOURCES |
20/07/2006 |
|
ANALCO AUXILIAR CALZADO S.A. |
A53075321 |
10,00% |
OWN SOURCES |
20/07/2006 |
|
SEMPERE GARCIA JAIME |
|
Indet. |
OWN SOURCES |
20/07/2006 |
|
Shareholdings |
|||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
|
ANALCO AUXILIAR CALZADO S.A. |
A53075321 |
10,00% |
OWN SOURCES |
20/07/2006 |
|
|
|
B30150817 |
0,00% |
M.REGISTER |
31/08/2004 |
|
|
ANALCO TANGER SARL |
MARRUECOS |
0,00% |
M.REGISTER |
31/08/2004 |
|
|
|
Company with solvency rating
below 7 |
||||
CURTIDOS LORCA SL
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2004) |
14/12/2006 |
019832 |
ALICANTE |
|
Re-elections |
24/11/2006 |
562718 |
ALICANTE |
|
Appointments |
28/12/2005 |
550505 |
ALICANTE |
|
Registration of accounts
(2003) |
28/12/2005 |
050038 |
ALICANTE |
|
Re-elections |
22/03/2005 |
130777 |
ALICANTE |
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
DENSI-PLUS ANALCO |
||||
|
Kind of Brand: |
JOINT |
File: |
M2478761 |
||
|
Request Date: |
27/05/2002 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 17 |
|
||||
|
Name: |
DENSI-PLUS ANALCO |
||||
|
Kind of Brand: |
JOINT |
File: |
M2478762 |
||
|
Request Date: |
27/05/2002 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
|
Name: |
ANALCO |
||||
|
Kind of Brand: |
JOINT |
File: |
M2393530 |
||
|
Request Date: |
11/04/2001 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 17 |
|
||||
|
|
|
||||
|
Kind of Brand: |
GRAFICA |
File: |
M2167414 |
||
|
Request Date: |
09/06/1998 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25 |
|
||||
Total Marcas: 4
Commercial
Experience
SALES
Collection
(estimated)
Credit
sales percentage 100 %
Export
Percentage: 40%
Exports::
FRANCIA
ALEMANIA AUSTRIA SUDAMERICA
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANKINTER, S.A. |
|
|
ALICANTE |
|
|
BANCO SANTANDER CENTRAL HISPANO, S.A. |
|
|
ELCHE |
|
|
CAJA DE AHORROS DE MURCIA |
|
|
ELCHE |
|
|
CAJA DE AHORROS DEL MEDITERRANEO |
|
|
ELCHE |
|
|
BANCO POPULAR ESPAŃOL, S.A. |
0039 |
MARIANO LUIŃA, 1 |
ELCHE / ELX |
ALICANTE |
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 31/01/2006
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/08/2002 (12) |
31/08/2003 (12) |
31/08/2004 (12) |
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
9.728.475,10 |
10.197.105,97 |
11.569.378,70 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
1.085.920,30 |
1.185.429,87 |
1.223.196,03 |
|
|
Concessions, patents,licences , trademarks |
65.095,62 |
65.095,62 |
66.772,32 |
|
|
Software |
25.813,13 |
25.813,13 |
29.838,13 |
|
|
Leasing |
1.137.610,03 |
1.347.265,48 |
1.282.345,19 |
|
|
Amortization |
-142.598,48 |
-252.744,36 |
-155.759,61 |
|
|
III. Tangible assets |
7.283.092,04 |
7.649.272,72 |
8.758.882,10 |
|
|
Property, plant and equipment |
682.450,29 |
855.695,29 |
915.695,29 |
|
|
Machinery, equipment and other |
6.179.227,25 |
6.538.119,76 |
7.405.479,84 |
|
|
Other property plant and equipement |
2.545.692,87 |
3.655.417,07 |
5.183.190,34 |
|
|
Prepaid expenses on fixed assets |
389.179,94 |
150.253,03 |
152.056,07 |
|
|
Other assets |
1.070.489,23 |
1.095.918,07 |
1.104.871,97 |
|
|
Depreciation |
-3.583.947,54 |
-4.646.130,50 |
-6.002.411,41 |
|
|
IV. Financial assets |
572.317,21 |
575.257,83 |
875.101,23 |
|
|
Shares in affiliated companies |
|
|
60.000,00 |
|
|
Shares in associated companies |
|
|
239.800,00 |
|
|
Securities |
443.064,85 |
452.854,99 |
452.898,39 |
|
|
Other loans |
115.715,31 |
115.715,31 |
115.715,31 |
|
|
Long term deposits and guarantees |
13.537,05 |
6.687,53 |
6.687,53 |
|
|
V. Owners equity |
787.145,55 |
787.145,55 |
712.199,34 |
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
60.586,77 |
106.423,44 |
89.513,10 |
|
|
D) CURRENT ASSETS |
16.023.631,95 |
15.962.692,68 |
16.657.566,91 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
7.401.533,95 |
7.143.533,87 |
8.402.224,91 |
|
|
Goods available for sale |
708,53 |
1.543,14 |
1.820,91 |
|
|
Raw material inventory |
4.477.402,22 |
4.438.975,55 |
5.237.164,42 |
|
|
Work in Progress |
798.369,79 |
714.032,92 |
842.558,83 |
|
|
Finished goods |
2.125.053,41 |
1.988.982,26 |
2.313.510,75 |
|
|
Cash advance |
|
|
7.170,00 |
|
|
III. Debtors |
7.779.181,69 |
7.795.336,07 |
7.650.901,90 |
|
|
Clients |
7.310.989,31 |
7.322.564,74 |
6.710.306,36 |
|
|
Other debts |
8.045,92 |
285.519,13 |
772.086,20 |
|
|
Labor costs |
15.468,04 |
12.224,65 |
14.746,32 |
|
|
Taxes refunds |
444.678,42 |
175.027,55 |
153.763,02 |
|
|
IV. Short term financial assets |
6.010,11 |
6.010,11 |
12.010,11 |
|
|
Short term investment |
6.010,11 |
6.010,11 |
12.010,11 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
586.007,63 |
815.341,95 |
418.052,91 |
|
|
VII. Prepaid expenses and accrued income |
250.898,57 |
202.470,68 |
174.377,08 |
|
|
ASSETS (A + B + C + D) |
25.812.693,82 |
26.266.222,09 |
28.316.458,71 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/08/2002 (12) |
31/08/2003 (12) |
31/08/2004 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
12.044.070,74 |
12.662.138,86 |
12.869.561,07 |
|
|
I. Capital |
300.506,05 |
300.506,05 |
301.000,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
10.674.380,69 |
11.682.359,52 |
11.480.861,40 |
|
|
Retained earnings |
60.101,21 |
60.101,21 |
60.101,21 |
|
|
Sinking fund from owner equity |
787.145,55 |
787.145,55 |
712.199,34 |
|
|
Other funds |
9.827.133,93 |
10.835.112,76 |
10.708.560,85 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
1.069.184,00 |
679.273,29 |
1.087.699,67 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
16.209,22 |
|
|
|
|
Capital grants |
16.209,22 |
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
1.227.992,75 |
4.115.592,26 |
4.480.079,53 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
907.876,15 |
3.872.087,26 |
3.734.529,36 |
|
|
Long term bank loans |
907.876,15 |
3.872.087,26 |
3.734.529,36 |
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
256.259,06 |
179.647,46 |
654.392,63 |
|
|
Accounts payable |
256.259,06 |
179.647,46 |
654.392,63 |
|
|
V. Deferred debts on shares |
63.857,54 |
63.857,54 |
91.157,54 |
|
|
Affiliated companies |
|
|
27.300,00 |
|
|
Other companies |
63.857,54 |
63.857,54 |
63.857,54 |
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
12.524.421,11 |
9.488.490,97 |
10.966.818,11 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
6.169.386,04 |
4.910.843,52 |
5.528.837,71 |
|
|
Loans and other debts |
6.169.386,04 |
4.910.843,52 |
5.528.837,71 |
|
|
III. Short term debts with associated and
affiliated companies |
|
|
540.895,71 |
|
|
With affiliated companies |
|
|
540.895,71 |
|
|
IV. Trade creditors |
5.882.801,36 |
4.158.150,74 |
4.378.875,27 |
|
|
Accounts payable |
|
6.034,48 |
8.534,48 |
|
|
Expenses |
5.882.801,36 |
4.152.116,26 |
4.370.340,79 |
|
|
V. Other non trade payables |
472.233,71 |
419.496,71 |
518.209,42 |
|
|
Government |
93.164,26 |
91.929,76 |
197.491,53 |
|
|
Bills payable |
379.069,45 |
316.061,60 |
302.279,94 |
|
|
Other debts |
|
11.505,35 |
18.437,95 |
|
|
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) |
25.812.693,82 |
26.266.222,09 |
28.316.458,71 |
Profit and Loss Account
|
(Figures given in Euros) |
31/08/2002 (12) |
31/08/2003 (12) |
31/08/2004 (12) |
|
|
|
A) EXPENSES (A.1 a A.16) |
|
|
|
|
|
A.1. Change in stocks of finished goods
and work in progress |
|
220.408,02 |
|
|
|
A.2. Supplies |
27.062.429,20 |
23.930.760,65 |
22.589.333,40 |
|
|
Material consumed |
531.077,50 |
74.799,40 |
113.401,34 |
|
|
Raw materials consumed |
15.502.744,13 |
13.174.077,90 |
11.932.365,93 |
|
|
Other expenses |
11.028.607,57 |
10.681.883,35 |
10.543.566,13 |
|
|
A.3. Labor cost |
1.236.697,09 |
1.274.029,45 |
1.251.791,28 |
|
|
Wages |
971.246,92 |
988.473,23 |
961.326,59 |
|
|
Social security expenses |
265.450,17 |
285.556,22 |
290.464,69 |
|
|
A.4. Assets depreciation |
973.565,47 |
1.111.243,50 |
1.263.728,57 |
|
|
A.5 Variance in provision for current
assets |
39.400,61 |
59.319,07 |
149.532,91 |
|
|
Variance in provision for bad debts |
39.400,61 |
|
149.532,91 |
|
|
Variance in provision for other current
assets |
|
59.319,07 |
|
|
|
A.6. Other operating costs |
3.078.904,95 |
2.557.770,76 |
2.775.330,29 |
|
|
External costs |
3.068.794,50 |
2.535.781,43 |
2.761.516,74 |
|
|
Taxes |
10.092,78 |
21.988,64 |
12.905,62 |
|
|
Other day to day expenses |
17,67 |
0,69 |
907,93 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
2.199.475,75 |
1.978.239,07 |
2.139.935,89 |
|
|
A.7. Financial expenses |
800.139,11 |
739.089,79 |
675.843,87 |
|
|
Debts with related companies |
2.002,37 |
|
|
|
|
Debts with associated companies |
2.351,55 |
|
|
|
|
Other companies debts |
795.785,19 |
739.089,79 |
675.843,87 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
2.883,44 |
4.985,90 |
1.782,91 |
|
|
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) |
1.537.195,76 |
1.370.670,47 |
1.571.225,31 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
216,84 |
|
|
A.11. Losses in fixed assets |
7,94 |
22,67 |
3.296,68 |
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
85.520,11 |
154.809,62 |
11.423,33 |
|
|
A.14. Prior year’s expenses and losses |
25.970,07 |
219.312,50 |
31.642,75 |
|
|
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) |
71.199,32 |
|
61.559,62 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
1.608.395,08 |
1.112.885,73 |
1.632.784,93 |
|
|
A.15. Corporate Taxes |
539.211,08 |
433.612,44 |
545.085,26 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
1.069.184,00 |
679.273,29 |
1.087.699,67 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
34.088.353,82 |
30.799.509,42 |
29.435.291,33 |
|
|
Sales |
34.625.798,05 |
31.145.063,06 |
29.672.528,53 |
|
|
Services provided |
7.092,25 |
20.994,22 |
14.632,85 |
|
|
Discounts |
-544.536,48 |
-366.547,86 |
-251.870,05 |
|
|
B.2. Increase in inventory of finished
goods |
185.467,78 |
|
453.054,40 |
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
316.651,47 |
332.261,10 |
281.306,61 |
|
|
Other incomes |
297.604,05 |
296.156,47 |
236.219,96 |
|
|
Grants |
19.047,42 |
36.104,63 |
45.086,65 |
|
|
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 |
1.700,19 |
1.295,21 |
1.385,96 |
|
|
From other companies |
1.700,19 |
1.295,21 |
1.385,96 |
|
|
B.6. Income from securities |
|
|
|
|
|
B.7. Other income from interrest |
137.659,78 |
126.056,99 |
106.863,36 |
|
|
From associated companies |
5.939,66 |
|
26,38 |
|
|
From other companies |
131.720,12 |
126.056,99 |
106.836,98 |
|
|
B.8. Gains on exchange |
1.382,59 |
9.154,89 |
666,88 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
662.279,99 |
607.568,60 |
568.710,58 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
3.664,16 |
35,45 |
146,51 |
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
30.149,94 |
16.209,03 |
|
|
|
B.12. Extraordinary income |
137.925,26 |
44.607,18 |
21.379,57 |
|
|
B.13. Prior year’s income and profits |
10.958,08 |
55.508,39 |
86.613,14 |
|
|
B.IV. EXTRAORDINARY LOSSES
(A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
257.784,74 |
|
|
|
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) |
2.002 (12) |
2.003 (12) |
2.004 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
-11,53 |
-9,65 |
-4,43 |
|
|
Assets Turnover |
1,32 |
1,17 |
1,04 |
|
|
Productivity |
3,60 |
3,47 |
3,84 |
|
|
Increase of the Added Value |
-28,95 |
-0,59 |
8,64 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,14 |
2,59 |
3,84 |
|
|
Financial Profitability |
8,88 |
5,37 |
8,45 |
|
|
Financial Expenses |
2,35 |
2,40 |
2,30 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
82,00 |
91,00 |
94,00 |
|
|
Suppliers’ Credit (In days of sales) |
79,00 |
62,00 |
71,00 |
|
|
Working Capital (In days of sales) |
37,00 |
76,00 |
70,00 |
|
|
Working Capital Requirement (In days of
sales) |
96,00 |
123,00 |
132,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
3.499.210,84 |
6.474.201,71 |
5.690.748,80 |
|
|
Working Capital Requirement |
9.076.579,14 |
10.563.693,17 |
10.789.523,49 |
|
|
Treasury |
-5.577.368,30 |
-4.089.491,46 |
-5.098.774,69 |
|
|
Balance Ratio |
1,36 |
1,63 |
1,49 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
53,28 |
51,79 |
54,55 |
|
|
Own / Permanent Funds |
90,64 |
75,47 |
74,18 |
|
|
Payback Capacity |
0,39 |
0,43 |
0,50 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,28 |
1,68 |
1,52 |
|
|
Immediate Liquidity |
0,05 |
0,09 |
0,04 |
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.004 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,00 |
0,00 |
|
FIXED ASSETS |
40,86 |
27,00 |
13,86 |
|
ACCRUED EXPENSES |
0,32 |
0,19 |
0,13 |
|
CURRENT ASSETS |
58,83 |
72,81 |
-13,98 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
45,45 |
37,22 |
8,23 |
|
ACCRUED INCOME |
0,00 |
0,45 |
-0,45 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,01 |
-0,01 |
|
LONG-TERM CREDITORS |
15,82 |
5,52 |
10,30 |
|
SHORT-TERM CREDITORS |
38,73 |
56,80 |
-18,07 |
|
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 |
|
|
2.004 |
|
|
|
Net turnover |
99,05 |
99,32 |
-0,26 |
|
Other operating income |
0,95 |
0,68 |
0,26 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
74,49 |
71,61 |
2,88 |
|
Other operation expenses |
9,34 |
13,22 |
-3,88 |
|
Added value |
16,17 |
15,17 |
1,00 |
|
Labor cost |
4,21 |
8,20 |
-3,99 |
|
Gross Economic Result |
11,96 |
6,97 |
4,99 |
|
Assets depreciation |
4,25 |
1,84 |
2,42 |
|
Variation in provision
for current assets |
0,50 |
0,29 |
0,21 |
|
Net Economic Result |
7,20 |
4,84 |
2,36 |
|
Financial income |
0,37 |
0,64 |
-0,27 |
|
Financial expenses |
2,28 |
1,99 |
0,29 |
|
Variation in financial
investment provision |
0,00 |
0,00 |
-0,00 |
|
Ordinary Activities
Result |
5,29 |
3,50 |
1,79 |
|
Extraordinary income |
0,36 |
0,22 |
0,15 |
|
Extraordinary expenses |
0,16 |
0,19 |
-0,04 |
|
Variation in provision
in fixed assets |
0,00 |
-0,00 |
0,00 |
|
Results before Taxes |
5,49 |
3,52 |
1,97 |
|
Corporaye taxes |
1,83 |
1,12 |
0,71 |
|
Net Result |
3,66 |
2,40 |
1,26 |
|
Assets depreciation |
4,25 |
1,84 |
2,42 |
|
Provisions fund
variation |
0,50 |
0,29 |
0,21 |
|
Net Self-Financing |
8,42 |
4,53 |
3,89 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.004 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-4,43 |
-12,19 |
-3,11 |
11,51 |
|
Assets Turnover |
1,04 |
1,44 |
1,92 |
2,51 |
|
Fixed Assets Turnover |
2,52 |
6,06 |
7,91 |
14,19 |
|
Increase of the Added
Value |
8,64 |
-10,46 |
2,12 |
17,78 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
3,84 |
1,51 |
1,96 |
2,61 |
|
Change of Personnel
Costs |
-1,74 |
-1,04 |
5,55 |
12,40 |
|
Average Personnel Costs |
26.078,98 |
14.665,04 |
16.628,81 |
22.452,09 |
|
Value Added by Employees |
100.103,93 |
24.788,04 |
33.804,20 |
47.495,35 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
2.501.177,99 |
252.235,75 |
389.139,91 |
901.698,39 |
|
Operating Cash Flow |
3.553.197,37 |
443.811,49 |
677.887,19 |
1.206.125,86 |
|
Change in Cash Flow |
35,21 |
-29,86 |
-5,48 |
22,97 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
3,84 |
1,83 |
3,59 |
5,45 |
|
Financial Profitability |
8,45 |
5,71 |
12,18 |
18,72 |
|
Financial Expenses |
2,30 |
0,69 |
1,40 |
2,40 |
|
Gross Economic
Profitability |
12,55 |
9,59 |
12,12 |
13,98 |
|
Gross Financial
Profitability |
27,61 |
26,80 |
42,81 |
64,33 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
93,00 |
51,51 |
65,24 |
89,77 |
|
Suppliers’ Credit (In
days of sales) |
71,00 |
56,62 |
92,37 |
134,16 |
|
Working Capital (In days
of sales) |
69,00 |
-1,58 |
20,34 |
50,54 |
|
Working Capital
Requirement (In days of sales) |
131,00 |
7,44 |
37,65 |
81,37 |
|
Treasury (In days of
sales) |
0,00 |
-43,99 |
-16,80 |
2,17 |
|
Operating Current Assets |
203,00 |
105,73 |
139,51 |
182,18 |
|
BALANCE |
|
|
|
|
|
Working Capital |
5.690.748,80 |
-40.154,98 |
772.190,30 |
1.936.825,22 |
|
Working Capital
Requirement |
10.789.523,49 |
193.754,38 |
1.298.228,16 |
2.535.308,11 |
|
Treasury |
-5.098.774,69 |
-1.275.001,64 |
-643.631,52 |
103.848,98 |
|
Balance Ratio |
1,49 |
0,99 |
1,55 |
2,20 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
54,55 |
54,32 |
68,98 |
79,49 |
|
Own / Permanent Funds |
74,18 |
81,14 |
96,23 |
99,92 |
|
Payback Capacity |
0,50 |
0,25 |
0,31 |
0,45 |
|
Long term Indebtedness |
15,82 |
0,01 |
1,39 |
5,65 |
|
Gearing |
220,03 |
219,98 |
323,11 |
487,49 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,02 |
|
Assets Guarantee |
1,83 |
1,20 |
1,41 |
1,80 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,52 |
0,99 |
1,18 |
1,53 |
|
Immediate Liquidity |
0,04 |
0,04 |
0,09 |
0,25 |
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 |
|