MIRA
INFORM REPORT
|
Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
GENTEC
S A |
|
|
|
|
Registered Office : |
Calle Tarragona, 161 08014 Barcelona |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2004 |
|
|
|
|
Date of Incorporation : |
10/06/1985 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of industrial chemical products |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
Identification and
Characteristics
TAX NUMBER: A58013293
NAME: GENTEC
SA
BUSINESS ADDRESS:* CALLE
TARRAGONA, 161
08014
BARCELONA
FORMER ADDRESS: CALLE
MALLORCA, 126
08036
BARCELONA
URL: www.gentec.es
TELEPHONE: 934267750
FAX: 934262986
LEGAL FORM: JOINT
STOCK COMPANY
DATE FOUNDED: 10/06/1985
CAPITAL: 120.200,00
EUROS
PAID-UP CAPITAL: 120.200,00
EUROS
NUMBER OF EMPLOYEES: 12
ACTIVITY: 1616600
Wholesale of industrial chemical products
CNAE: 5155
Wholesale of chemical products
EXPORT COMPANY: YES
IMPORT COMPANY: YES
* Characteristics
of the main address
According to our
investigations dated 18/04/2006 these are it is
a/an office used as rented” located in a commercial
area and it is located in an area main .
Clarifications:
Domicilio Social
Synthesis
Year
ending:31/12/2004
FINANCIAL SITUATION
PROFITABILITY 
4/9
Nil
TREASURY 
5/9
Restrained
BALANCE SHEET 
3/9
Degraded
DEBT 5/9
Important
INCIDENTS
COMMITMENTS 
9/9
Respected
INCIDENTS 9/9
None or Negligible
PREVIOUS EXPERIENCE
PREVIOUS EXPERIENCE 
6/9
Average
Credit Appraisal
CREDIT ACCORDING TO
OBJECTIVE DATA (From 0 to 6.000.000 Euros):
FAVOURABLE TOWARDS
65.997,14 Max. Euros
SOLVENCY RATING:
09/20 (BASED ON
HOMOGENEOUS FORMULATION).
Analysis made on
25/01/2007For the formulation of the Solvency Qualification, Ratings, Scorings,
etc NO information from the the R.A.I. file or from the Club Informa has been
used.
Financial Elements
Figures given in Euros
|
|
Balance sheet 2002 (12) |
Balance sheet 2003 (12) |
Balance sheet 2004 (12) |
% Sales |
|
SALES |
6.778.515,98 |
7.434.180,83 |
9.264.392,03 |
|
|
ADDED VALUE |
1.139.549,84 |
1.338.115,65 |
1.284.728,69 |
13,87 |
|
BUSINESS RESULT |
62.860,99 |
133.031,15 |
61.709,86 |
0,67 |
|
OWN FUNDS |
582.824,50 |
715.854,96 |
777.564,85 |
|
|
DEBT |
3.222.295,28 |
4.308.997,95 |
5.144.856,89 |
|
|
TOTAL ASSET |
3.805.119,78 |
5.024.852,91 |
5.922.421,74 |
|
The sales of de 9.264.392,03
Euros show a change of 24,62% compared with 2003. Between 2002 and 2003, this
change was 9,67%.
Added value grew by -3,98%
compared with the previous year. Shareholders equity are 777.564,85 Euros for
an indebtedness of 5.144.856,89 Euros
The result 61.709,86 Euros means
financial profitability of 7,94% and economic profitability of 1,04%. This
result means growth of -53,61% compared with the 2003.
THE FIGURES FOR THE
LAST BALANCE SHEET ARE RELEVANT:
SOURCE: THE
MERCANTILE REGISTER
DATE: 19/October/2005
Results Distribution
Annual Report Year Source:2004
Figures given in Euros
Distribution Base
Profit
and Loss 61.710,00
Total
of Amounts to be distributed 61.710,00
Distribution a
Voluntary
Reserve 61.710,00
Auditors’ opinion: FAVOURABLE
WITH RESERVATIONS (2004)
Auditors: J.M.
GAY Y SANFELIU AUDITORES S.L.
Auditing Provisos
Close Date: 31/12/2004
LA SOCIEDAD POSEE EL 50 POR CIENTO
DEL CAPITAL SOCIAL DE LA SOCIEDAD DUKE CHEM, S.A.. EL VALOR POR EL QUE FIGURA
CONTABILIZADO DICHA PARTICIPACION EN EL APARTADO 1. “PARTICIPACIONES EN
EMPRESAS DEL GRUPO”, CORRESPONDIENTE AL EPIGRAFE IV “INMOVILIZACIONES
FINANCIERAS”, ES EQUIVALENTE, AL MENOS, AL 50 POR CIENTO DEL IMPORTE DE LOS
FONDOS PROPIOS QUE FIGURAN EN LAS CUENTAS ANUALES FORMULADAS POR DICHA COMPANIA
AL CIERRE DEL EJERCICIO 2004. DICHOS ESTADOS FINANCIEROS NO HAN SIDO AUDITADOS,
POR LO QUE NO NOS PODEMOS SATISFACER DE SU RAZONABILIDAD.
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2004) |
|
|
|
% of
PRODUCTION VALUE |
|
|
|
|
SALES |
100 |
99,27 |
0,73 |
|
ADDED
VALUE |
13,87 |
13,51 |
0,36 |
|
BUSINESS
RESULT |
0,67 |
2,93 |
-2,27 |
|
% OF
TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
13,13 |
38,75 |
-25,62 |
|
DEBT |
86,87 |
61,25 |
25,62 |
Compared sector (CNAE): 515 - Wholesale of non-agricultural
intermediate products, waste and scrap
Number of companies: 661
Size (Sales Figure):7.000.000,00 -
40.000.000,00 Euros
The turnover of the company is
0,73% above the mean for the sector.
The company’s added value was 13,87%
s/ the production value, and 0,36% above the mean for the sector.
The company’s business result
was 0,67% of the PV, 2,27% below the mean for the sector.
The company’s own resources are
13,13%, 25,62% below the mean for the sector.
The company’s outside
resources are 86,87%, 25,62% above the mean for the sector.
Commercial Experience
PURCHASES
Import
Percentage 90%
Imports:CEE, India
SALES
Collection
(estimated)
Cash sales
percentage:40 %
Credit sales
percentage:60 %
Export Percentage
20%
Exports:Comunidad Europea,
India, Corea
Suppliers International
CRYSTAL-PHARMA
DUKE-CHEM
Total: 2
Clients International
CRYSTAL-PHARMA
DUKE-CHEM
Total: 2
Incidents Recorded
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 element
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of appointment |
|
AUDITOR |
JM GAY Y SENFELIU AUDITORES SL |
29/12/2003 |
Functional Managers
|
Position |
Surname and name |
|
|
MANAGER |
MELENDO BANOS JAIME |
|
|
EXPORTS MANAGER |
ASTELL ANTONIO |
|
Financial Links
|
Shareholdings |
||||
|
Company Name |
CIF/ Country |
Percent. |
Source |
Information Date |
|
DUKE CHEM S.A. |
A82256413 |
50% |
M.REGISTER |
31/12/2004 |
|
CRYSTAL PHARMA S.A. |
A40147753 |
35,26% |
OWN SOURCES |
02/06/2006 |
Proceedings published in the B.O.R.M.E.
(Official Mercantile Register Gazette)
|
PROCEEDINGS |
DATE |
Notice Num. |
MERCANTILE REG. |
|
Appointments |
25/01/2007 |
044665 |
Barcelona |
|
Appointments |
25/01/2007 |
044663 |
Barcelona |
|
Registration of accounts2004 |
31/10/2005 |
814132 |
Barcelona |
|
Change of adress |
26/07/2005 |
332108 |
Barcelona |
|
Registration of accounts2003 |
22/12/2004 |
953229 |
Barcelona |
Press articles
13/05/2005 EL PAIS
DE CATALUNA INFORMATION ON LEGAL
ANNOUNCE
ESTA SDAD. HA TRASLADADO
SU DOMICILIO SOCIAL A LA C/ TARRAGONA, N.161, PLANTA 18, DE BARCELONA. A
05/05/05.
Complementary Information
18/04/06 BLOQUE DE
INVESTIGACION:
- Domicilio social:
Cl Tarragona, 161 en Barcelona. Es una oficina
alquilada.
- Actividad: venta de
productos quimicos industriales.
- Realiza
transacciones intracomunitarias de sus compras y ventas.
- Realiza operaciones
de exportacion con: India, Corea.
- El 20% de sus
ventas corresponden a exportaciones.
- El 40% de las
ventas son al contado.
- Clientes:
CRYSTAL-PHARMA, DUKE-CHEM.
- Realiza operaciones
de importacion con: India.
- El 90% de sus
compras corresponden a importaciones.
----------------------------------------------------------------------
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.
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO BILBAO VIZCAYA
ARGENTARIA, S.A. |
0006 |
PORTAL DE ZAMUDIO,
1 |
BILBAO |
Vizcaya |
|
|
|
|
|
|
The information on the last
Individual Filed accounts contained in this report is extracted from the
Mercantile Register file of the legal address of the Company and dated
19/October/2005.
Balance Sheet (Assets)
|
Figures given in Euros |
31/12/2002(12) |
31/12/2003(12) |
31/12/2004(12) |
|
|
|
A) DUE FROM SHAREHOLDERS FOR
UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
1.022.830,76 |
1.335.274,44 |
1.575.064,56 |
|
|
I. Establishment
expenses |
|
|
|
|
|
II. Intangible
assets |
|
|
53.359,02 |
|
|
Leasing |
|
|
66.033,43 |
|
|
Amortization |
|
|
-12.674,41 |
|
|
III. Tangible
assets |
63.404,83 |
56.667,64 |
51.628,37 |
|
|
Machinery,
equipment and other |
8.659,52 |
5.631,52 |
6.055,67 |
|
|
Other
property plant and equipement |
74.545,73 |
78.415,05 |
79.069,57 |
|
|
Other
assets |
46.254,21 |
54.588,00 |
63.564,98 |
|
|
Depreciation |
-66.054,63 |
-81.966,93 |
-97.061,85 |
|
|
IV. Financial
assets |
959.425,93 |
1.278.606,80 |
1.470.077,17 |
|
|
Shares
in affiliated companies |
1.087.654,89 |
1.407.203,32 |
1.531.057,47 |
|
|
Securities |
|
|
6.881,10 |
|
|
Long
term deposits and guarantees |
4.106,59 |
3.739,03 |
4.474,15 |
|
|
Provisions |
-132.335,55 |
-132.335,55 |
-72.335,55 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term
trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
4.945,61 |
|
|
D) CURRENT ASSETS |
2.782.289,02 |
3.689.578,47 |
4.342.411,57 |
|
|
I. Not paid in
shareholder capital |
|
|
|
|
|
II. Inventory |
541.130,31 |
480.927,25 |
914.913,53 |
|
|
Goods
available for sale |
541.130,31 |
480.927,25 |
914.913,53 |
|
|
III. Debtors |
2.167.885,85 |
3.056.065,03 |
3.219.040,19 |
|
|
Clients |
2.056.311,41 |
3.076.601,77 |
3.269.766,52 |
|
|
Amounts
owned by affiliated companies |
202.432,61 |
33.924,02 |
80.754,81 |
|
|
Other
debts |
9.566,54 |
7.272,88 |
16.772,88 |
|
|
Taxes refunds |
26.175,06 |
64.866,13 |
32.457,90 |
|
|
Provisions |
-126.599,77 |
-126.599,77 |
-180.711,92 |
|
|
IV. Short term
financial assets |
1.309,52 |
1.309,52 |
1.309,52 |
|
|
Short
Term Deposit and guarantees |
1.309,52 |
1.309,52 |
1.309,52 |
|
|
V. Short term
owners equity |
|
|
|
|
|
VI. Cash |
71.963,34 |
151.276,67 |
207.148,33 |
|
|
VII. Prepaid
expenses and accrued income |
|
|
|
|
|
ASSETS (A + B + C + D) |
3.805.119,78 |
5.024.852,91 |
5.922.421,74 |
Balance Sheet (Liabilities)
|
Figures given in Euros |
31/12/2002(12) |
31/12/2003(12) |
31/12/2004(12) |
|
|
|
A) SHAREHOLDERS EQUITY |
582.824,50 |
715.854,96 |
777.564,85 |
|
|
I. Capital |
120.200,00 |
120.200,00 |
120.200,00 |
|
|
II. Premium share
account |
|
|
|
|
|
III. Revaluation
reserve |
|
|
|
|
|
IV. Reserves |
399.763,51 |
462.623,81 |
595.654,99 |
|
|
Retained
earnings |
24.040,00 |
24.040,00 |
24.040,00 |
|
|
Other
funds |
375.721,09 |
438.581,39 |
571.612,57 |
|
|
Capital
adjustments in Euros |
2,42 |
2,42 |
2,42 |
|
|
V. Prior year
earnings |
|
|
|
|
|
VI. Prior year
profit or losses |
62.860,99 |
133.031,15 |
61.709,86 |
|
|
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 |
164.050,00 |
402.800,00 |
579.107,33 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
|
|
45.602,63 |
|
|
Long
term bank loans |
|
|
5.659,08 |
|
|
Leasing |
|
|
39.943,55 |
|
|
III. Debts with
associed and affiliated companies |
|
|
|
|
|
IV. Other
creditors |
164.050,00 |
402.800,00 |
533.504,70 |
|
|
Other
debts |
164.050,00 |
402.800,00 |
533.504,70 |
|
|
V. Deferred debts
on shares |
|
|
|
|
|
VI. Long term debt
with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
3.058.245,28 |
3.906.197,95 |
4.565.749,56 |
|
|
I. Negotiable
bonds |
|
|
|
|
|
II. Bank loans |
1.307.397,31 |
1.539.064,92 |
2.041.749,79 |
|
|
Loans
and other debts |
1.307.397,31 |
1.526.924,47 |
2.023.388,71 |
|
|
Debt
interest |
|
12.140,45 |
|
|
|
Leasing |
|
|
18.361,08 |
|
|
III. Short term
debts with associated and affiliated companies |
171.028,26 |
177.402,47 |
303.512,38 |
|
|
With
affiliated companies |
171.028,26 |
177.402,47 |
303.512,38 |
|
|
IV. Trade
creditors |
1.481.911,50 |
2.009.610,32 |
2.108.532,76 |
|
|
Expenses |
1.113.373,49 |
1.623.552,71 |
1.690.429,28 |
|
|
Bills
payable |
368.538,01 |
386.057,61 |
418.103,48 |
|
|
V. Other non trade
payables |
97.908,21 |
180.120,24 |
111.954,63 |
|
|
Government |
57.001,52 |
139.213,55 |
60.861,10 |
|
|
Other
debts |
906,69 |
906,69 |
13.047,14 |
|
|
Accounts
receivable |
40.000,00 |
40.000,00 |
38.046,39 |
|
|
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) |
3.805.119,78 |
5.024.852,91 |
5.922.421,74 |
Profit and Loss Account
|
Figures given in Euros |
31/12/2002(12) |
31/12/2003(12) |
31/12/2004(12) |
|
|
|
A) EXPENSES (A.1 a A.16) |
6.852.803,27 |
7.398.005,64 |
9.209.289,12 |
|
|
A.1.
Change in stocks of finished goods and work in progress |
|
|
|
|
|
A.2.
Supplies |
5.024.794,21 |
5.555.933,10 |
7.447.444,58 |
|
|
Material
consumed |
5.022.813,55 |
5.553.201,02 |
7.447.444,58 |
|
|
Other
expenses |
1.980,66 |
2.732,08 |
|
|
|
A.3.
Labor cost |
948.207,43 |
984.327,86 |
1.030.080,08 |
|
|
Wages |
873.634,58 |
901.393,12 |
947.483,76 |
|
|
Social
security expenses |
74.572,85 |
82.934,74 |
82.596,32 |
|
|
A.4.
Assets depreciation |
14.789,55 |
15.912,28 |
27.769,33 |
|
|
A.5
Variance in provision for current assets |
|
|
54.112,15 |
|
|
Variance
in provision for bad debts |
|
|
54.112,15 |
|
|
A.6.
Other operating costs |
711.177,66 |
622.828,23 |
966.205,04 |
|
|
External
costs |
707.406,19 |
617.146,15 |
960.898,34 |
|
|
Taxes |
3.771,47 |
5.682,08 |
5.306,70 |
|
|
A.I. OPERATING
RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
176.552,86 |
337.875,51 |
172.767,13 |
|
|
A.7.
Financial expenses |
119.986,20 |
147.372,01 |
144.435,83 |
|
|
Other
companies debts |
119.986,20 |
147.372,01 |
144.435,83 |
|
|
A.8.
Variation in financial investments provision |
|
|
-60.000,00 |
|
|
A.9.
Exchange losses |
|
|
|
|
|
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) |
96.709,21 |
204.663,31 |
94.938,25 |
|
|
A.10.
Variation in provision in fixed assets |
|
|
|
|
|
A.11.
Losses in fixed assets |
|
|
|
|
|
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) |
|
|
|
|
|
A.V. EARNINGS / LOSS
BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
96.709,21 |
204.663,31 |
94.938,25 |
|
|
A.15.
Corporate Taxes |
33.848,22 |
71.632,16 |
33.228,39 |
|
|
A.16.
Other taxes |
|
|
|
|
|
A.VI. YEAR END
RESULT (PROFIT) (A.V-A.15-A.16) |
62.860,99 |
133.031,15 |
61.709,86 |
|
|
B) INCOMES (B.1 a B13) |
6.915.664,26 |
7.531.036,79 |
9.270.998,98 |
|
|
B.1.
Turnover |
6.778.515,98 |
7.434.180,83 |
9.264.392,03 |
|
|
Sales |
6.739.894,62 |
7.434.180,83 |
9.078.144,95 |
|
|
Services
provided |
38.621,36 |
|
186.247,08 |
|
|
B.2.
Increase in inventory of finished goods |
|
|
433.986,28 |
|
|
B.3.
Expenses capitalized |
|
|
|
|
|
B.4.
Other operating income |
97.005,73 |
82.696,15 |
|
|
|
Other
incomes |
97.005,73 |
82.696,15 |
|
|
|
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 |
890,84 |
2.277,69 |
1.398,72 |
|
|
From
other companies |
890,84 |
2.277,69 |
1.398,72 |
|
|
B.8.
Gains on exchange |
39.251,71 |
11.882,12 |
5.208,23 |
|
|
B.II. FINANCIAL
LOSSES (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
79.843,65 |
133.212,20 |
77.828,88 |
|
|
B.III. LOSSES FROM
ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9.
Gains from disposal of fixed assets |
|
|
|
|
|
B.10.
Gains from dealing in own shares |
|
|
|
|
|
B.11.
Paid in surplus |
|
|
|
|
|
B.12. Extraordinary
income |
|
|
|
|
|
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) |
|
|
|
Ratios
|
Figures given in Euros |
2002(12) |
2003(12) |
2004(12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase
of the Sales Figures |
-0,02 |
9,67 |
24,62 |
|
|
Assets
Turnover |
1,78 |
1,48 |
1,56 |
|
|
Productivity |
1,20 |
1,36 |
1,25 |
|
|
Increase
of the Added Value |
17,46 |
17,43 |
-3,99 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic
Profitability |
1,65 |
2,65 |
1,04 |
|
|
Financial
Profitability |
10,79 |
18,58 |
7,94 |
|
|
Financial
Expenses |
1,77 |
1,98 |
1,56 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’
Credit |
115 |
147 |
125 |
|
|
Suppliers’
Credit |
106 |
130 |
108 |
|
|
Working
Capital |
0 |
0 |
0 |
|
|
Working
Capital Requirement |
50 |
56 |
62 |
|
|
Treasury |
0 |
0 |
0 |
|
|
BALANCE |
|
|
|
|
|
Working
Capital |
-275.956,26 |
-216.619,48 |
-223.337,99 |
|
|
Working
Capital Requirement |
958.168,19 |
1.169.859,25 |
1.609.953,95 |
|
|
Treasury |
-1.234.124,45 |
-1.386.478,73 |
-1.833.291,94 |
|
|
Balance
Ratio |
0,73 |
0,84 |
0,86 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing
Ratio |
84,68 |
85,75 |
86,87 |
|
|
Own /
Permanent Funds |
78,04 |
63,99 |
57,31 |
|
|
Payback
Capacity |
0,47 |
0,58 |
0,55 |
|
|
LIQUIDITY |
|
|
|
|
|
General
Liquidity |
0,91 |
0,95 |
0,95 |
|
|
Immediate
Liquidity |
0,02 |
0,04 |
0,05 |
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages) |
|||
|
Assets |
Company |
Sector |
Difference |
|
|
2004 |
|
|
|
A) DUE FROM SHAREHOLDERS FOR
UNCALLED CAPITAL |
0,00 |
0,02 |
-0,02 |
|
B) FIXED ASSETS |
26,59 |
26,57 |
0,03 |
|
C) DEFERRED EXPENSES |
0,08 |
0,31 |
-0,22 |
|
D) CURRENT ASSETS |
73,32 |
73,11 |
0,21 |
|
ASSETS (A + B + C + D) |
100,00 |
100,00 |
0,00 |
|
|
|||
|
Liabilities |
Company |
Sector |
Difference |
|
|
2004 |
|
|
|
A) SHAREHOLDERS EQUITY |
13,13 |
38,75 |
-25,62 |
|
B) DEFERRED INCOME |
0,00 |
0,26 |
-0,26 |
|
C) PROVISIONS FOR LIABILITIES
AND EXPENSES |
0,00 |
0,17 |
-0,17 |
|
D) LONG TERM LIABILITIES |
9,78 |
6,88 |
2,90 |
|
E) SHORT TERM LIABILITIES |
77,09 |
53,94 |
23,15 |
|
F) SHORT TERM PROVISIONS FOR
LIABILITIES AND EXPENSES |
0,00 |
0,01 |
0,00 |
|
LIABILITIES (A + B + C + D + E
+ F) |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2004 |
|
|
|
Turnover |
100,00 |
99,27 |
0,73 |
|
Other operating income |
0,00 |
0,73 |
-0,73 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating costs |
75,70 |
78,54 |
-2,84 |
|
Other operating costs |
10,43 |
7,95 |
2,48 |
|
Added value |
13,87 |
13,51 |
0,36 |
|
Labor cost |
11,12 |
7,45 |
3,67 |
|
Gross Economic Result |
2,75 |
6,06 |
-3,31 |
|
Assets depreciation |
0,30 |
1,32 |
-1,02 |
|
Variance in provision for
current assets |
0,58 |
0,30 |
0,29 |
|
Net Economic Result |
1,86 |
4,44 |
-2,57 |
|
Financial Income |
0,07 |
0,60 |
-0,53 |
|
Financial Charges |
0,91 |
0,95 |
-0,04 |
|
Variation in financial
investments provision |
-0,65 |
0,00 |
-0,65 |
|
Ordinary Activities Result |
1,02 |
4,08 |
-3,06 |
|
Extraordinary income |
0,00 |
0,41 |
-0,41 |
|
Extraordinary charges |
0,00 |
0,22 |
-0,22 |
|
Variation in provision in
fixed assets |
0,00 |
0,03 |
-0,03 |
|
Results before Taxes |
1,02 |
4,24 |
-3,22 |
|
Society taxes |
0,36 |
1,31 |
-0,95 |
|
Net Result |
0,67 |
2,93 |
-2,27 |
|
Assets depreciation |
0,30 |
1,32 |
-1,02 |
|
Change of Provisions |
-0,06 |
0,33 |
-0,39 |
|
Net Self-Financing |
0,90 |
4,59 |
-3,68 |
Ratios
|
(Figures given in Euros) |
Company |
Ptile25 |
Median |
Ptile75 |
|
|
2004 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
24,62 |
-1,33 |
5,33 |
13,26 |
|
Assets Turnover |
1,56 |
1,31 |
1,65 |
2,15 |
|
Fixed Assets Turnover |
5,86 |
4,67 |
9,17 |
19,61 |
|
Increase of the Added Value |
-3,99 |
-5,60 |
5,38 |
14,86 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,25 |
1,45 |
1,80 |
2,32 |
|
Change of Personnel Costs |
4,65 |
2,80 |
9,07 |
15,90 |
|
Average Personnel Costs |
85.840,01 |
21.586,06 |
27.828,95 |
35.212,61 |
|
Value Added by Employees |
107.060,72 |
37.164,07 |
50.708,88 |
72.985,12 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
83.591,34 |
232.387,64 |
456.446,54 |
847.505,73 |
|
Operating Cash Flow |
254.648,61 |
348.856,67 |
621.024,74 |
1.135.561,64 |
|
Change in Cash Flow |
-43,88 |
-19,07 |
1,16 |
24,08 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
1,04 |
1,73 |
3,49 |
6,93 |
|
Financial Profitability |
7,94 |
5,72 |
10,98 |
18,15 |
|
Financial Expenses |
1,56 |
0,34 |
0,70 |
1,15 |
|
Gross Economic Profitability |
4,30 |
5,46 |
8,69 |
13,76 |
|
Gross Financial Profitability |
32,75 |
17,33 |
26,70 |
42,04 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit |
125 |
74,18 |
99,59 |
125,75 |
|
Suppliers’ Credit |
108 |
31,25 |
68,61 |
104,85 |
|
Working Capital |
0 |
12,06 |
36,47 |
73,51 |
|
Working Capital Requirement |
62 |
22,16 |
66,91 |
102,05 |
|
Treasury |
0 |
-52,24 |
-13,54 |
9,35 |
|
Operating Current Assets |
168 |
125,11 |
165,51 |
204,59 |
|
BALANCE |
|
|
|
|
|
Working Capital |
-223.337,99 |
346.893,64 |
1.261.232,95 |
2.691.262,42 |
|
Working Capital Requirement |
1.609.953,95 |
728.690,83 |
2.018.402,01 |
3.839.256,03 |
|
Treasury |
-1.833.291,94 |
-1.823.814,59 |
-470.376,35 |
307.196,45 |
|
Balance Ratio |
0,86 |
1,22 |
1,90 |
3,62 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
86,87 |
47,63 |
65,26 |
79,10 |
|
Own / Permanent Funds |
57,31 |
76,18 |
93,60 |
99,76 |
|
Payback Capacity |
0,55 |
0,24 |
0,34 |
0,48 |
|
Long term Indebtedness |
9,78 |
0,00 |
2,09 |
8,31 |
|
Gearing |
761,66 |
190,93 |
287,84 |
478,36 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,15 |
1,22 |
1,48 |
2,07 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
0,95 |
1,08 |
1,30 |
1,75 |
|
Immediate Liquidity |
0,05 |
0,03 |
0,08 |
0,22 |
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 |
|