MIRA
INFORM REPORT
|
Report Date : |
7th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
GRANINTER SA |
|
|
|
|
Registered Office : |
Poligono
Ind Las Gandaras De Budino, S/N 36400 O Porrino (Pontevedra) |
|
|
|
|
Country : |
Spain |
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|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
02.08.1989 |
|
|
|
|
Legal Form : |
Joint Stock Company |
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|
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|
Line of Business : |
Cutting, shaping & finishing of natural stone. |
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 |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
Identification and
Characteristics
Tax Number A36111573
NAME GRANINTER
SA
TRADE NAME GRANINTER,
S.A.
BUSINESS ADDRESS POLIGONO
IND LAS GANDARAS DE BUDINO, S/N
Postcode 36400
O PORRINO (PONTEVEDRA)
URL http://www.graninter.com
TELEPHONE 986346477
FAX 986346364
LEGAL FORM JOINT
STOCK COMPANY
DATE FOUNDED 02/08/1989
CAPITAL 1.622.730,00 Euros
PAID-UP CAPITAL 1.622.730,00 Euros
NUMBER OF EMPLOYEES 200
ACTIVITY 1244200 - Cutting,
shaping & finishing of natural stone industry
CNAE 2670 - Cutting,
shaping and finishing of stone
EXPORT COMPANY YES
IMPORT COMPANY YES
* Characteristics
of the main address
According to our investigations
dated 24/05/2005 these premises are owned; with no official
confirmation used as store .
Synthesis
FINANCIAL
SITUATION (Year ending: 31/12/2005)
PROFITABILITY Medium
TREASURY Average
BALANCE SHEET Average
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 616.500,19
Max.
Financial Elements
Figures given in thousands of Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Estimate 2.006 (12) |
|
SALES |
42.677,75 |
50.809,71 |
57.500,00 |
|
ADDED VALUE |
9.564,65 |
10.665,15 |
|
|
BUSINESS RESULT |
1.951,07 |
1.922,98 |
|
|
OWN FUNDS |
20.856,97 |
11.879,78 |
|
|
DEBT |
28.212,17 |
39.955,41 |
|
|
TOTAL ASSET |
49.977,33 |
52.896,79 |
|
The sales of
50.809,71 thousands of Euros show a change of
19,05% compared with 2.004 .
Added value grew
by 11,51% compared with the previous year. Shareholders equity are
11.879,78 thousands of Euros for an indebtedness of
39.955,41 thousands of Euros .
The result
1.922,98 thousands of Euros means financial profitability of
16,19% and economic profitability of 3,64% . This result
means growth of -1,44% compared with the 2.004 .
THE FIGURES FOR
THE LAST BALANCE SHEET ARE RELEVANT:
SOURCE: FROM
THE MERCANTILE REGISTER
DATE: 14/07/2006
Results
Distribution
Annual Report Year
Source: 2.005
Figures given in
Euros
Distribution Base
Profit
and Loss 1.922.980
Total
of Amounts to be distributed 1.922.980
Distribution a
Voluntary
Reserve 1.922.980
Auditors’ opinion:
FAVOURABLE (2.005)
Auditors:
APLEM AUDITORES
S.L.
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
96,56 |
99,15 |
-2,59 |
|
ADDED
VALUE |
20,27 |
28,91 |
-8,64 |
|
BUSINESS
RESULT |
3,65 |
6,47 |
-2,82 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
22,46 |
40,88 |
-18,42 |
|
DEBT |
75,53 |
59,12 |
16,41 |
Compared sector (CNAE): 267 - Industria de
la piedra
Number of companies: 38
Size (Sales Figure): > 7.000.000,00
Euros
The turnover of the company is 2,59%
below the mean for the sector.
The company’s added value was 20,27%
s/ the production value, and 8,64% below the mean for the sector.
The company’s business result was
3,65% of the PV, 2,82% below the mean for the sector.
The company’s own resources are 22,46%
, 18,42% below the mean for the sector.
The company’s outside resources are
75,53% , 16,41% above 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 |
|
CHAIRMAN |
DE LA HOZ ARJONES JOSE LUIS |
27/06/2006 |
|
BOARD MEMBER |
ALONSO FERNANDEZ JOSE MARIA |
27/06/2006 |
|
BOARD MEMBER |
NAVARRO ESCOLANO IGNACIO |
27/06/2006 |
|
AUDITOR |
APLEM CONSULTING SL |
15/12/2005 |
Functional Managers
|
Position |
Surname and name |
|
FINANCIAL MANAGER |
PENA GRANA RAMON |
|
HUMAN RESOURCES MANAGER |
VAZQUEZ MARIA TERESA |
|
COMMERCIAL MANAGER |
SANCHEZ SUSANA |
|
EXPORTS MANAGER |
LORENZO FRANCISCO |
|
OPERATIONS MANAGER |
PORTO PORTO CANDIDO |
|
MANAGER |
DE LA HOZ ARJONES JOSE LUIS |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
LEVANTINA Y ASOCIADOS DE MINERALES
SOCIEDAD ANONIMA. |
A84433515 |
61,00% |
OWN SOURCES |
06/03/2007 |
|
Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
GRANINTER USA INC |
ESTADOS UNIDOS |
100,00% |
M.REGISTER |
31/12/2005 |
|
GRANINTER DEUTSCHLAND GMBH |
ALEMANIA |
100,00% |
M.REGISTER |
31/12/2005 |
|
GRANINTER PRODUCCION S.L. |
B36337657 |
100,00% |
OWN SOURCES |
06/04/2006 |
|
GRANINTER INDIA PVT LTDA |
INDIA |
100,00% |
M.REGISTER |
31/12/2005 |
|
GRANINTER UK LIMITED |
REINO UNIDO |
100,00% |
M.REGISTER |
31/12/2005 |
|
GRANINTER POLSKA, Sp Z.o.o. |
POLONIA |
100,00% |
M.REGISTER |
31/12/2005 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Appointments |
08/02/2007 |
075721 |
PONTEVEDRA |
|
Registration of accounts
(2005) Consolidated |
28/06/2006 |
151754 |
PONTEVEDRA |
|
Resignations |
27/06/2006 |
333303 |
PONTEVEDRA |
|
Appointments |
27/06/2006 |
333303 |
PONTEVEDRA |
|
Registration of accounts
(2005) |
08/06/2006 |
132785 |
PONTEVEDRA |
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
GRANINTER, S.A |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2235864 |
||
|
Request Date: |
21/05/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 35
|
|
||||
|
Prevailing Commercial
Names |
|||||
|
Name: |
GRANINTER, S.A. |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
N155810 |
||
|
Request Date: |
25/05/1990 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
RENEWED REGISTER |
|
|
|
||||
Total Marcas: 2
Commercial Experience
PURCHASES
Imports::
NORUEGA,BRASIL,INDIA.
SALES
Exports::
EEUU,CANADA,PORTUGAL,GRAN BRETAŃA,FRANCIA,ALEMANIA,TURQUIA.
Suppliers
LUNDS
GRANMALCO LDA
GRANINTER PRODUCCION SL
GRANINTER USA INC
GRANINTER BRASIL LDA
Total 7
Clients
CROMARGO
GRANMALCO LDA
GRANINTER USA INC
GRANINTER DEUCHLAND GMBH
GRANINTER POLSKA Z.O.O
Total 34
Bank Entities
|
Entity |
|
|
Town |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
PORRIŃO |
|
|
BANCO POPULAR ESPAŃOL, S.A. |
|
|
PORRIŃO |
|
|
BANCO SANTANDER CENTRAL HISPANO, S.A. |
|
|
PORRIŃO |
|
|
CAJA DE AHORROS DE GALICIA |
|
|
PORRIŃO |
|
|
CAJA DE AHORROS Y PENSIONES DE BARCELONA |
|
|
PORRIŃO |
|
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 14/07/2006
Balance Sheet (ASSETS)
|
(Figures given in thousands of
Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
15.399,31 |
15.391,57 |
17.588,86 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
181,15 |
319,81 |
303,50 |
|
|
Concessions, patents,licences , trademarks |
132,56 |
30,64 |
45,88 |
|
|
Acquired rights from finance leases |
|
354,59 |
354,59 |
|
|
Software |
363,32 |
369,70 |
394,52 |
|
|
Amortization |
-314,73 |
-435,12 |
-491,49 |
|
|
III. Tangible assets |
10.288,98 |
10.088,82 |
10.277,92 |
|
|
Property, plant and equipment |
9.683,53 |
9.802,04 |
10.224,53 |
|
|
Machinery, equipment and other |
11.496,79 |
11.674,44 |
12.153,40 |
|
|
Other property plant and equipement |
951,24 |
982,09 |
965,41 |
|
|
Prepaid expenses on fixed assets |
127,91 |
271,31 |
135,42 |
|
|
Other assets |
1.518,71 |
1.591,41 |
1.696,08 |
|
|
Depreciation |
-13.489,20 |
-14.232,47 |
-14.896,92 |
|
|
IV. Financial assets |
4.929,18 |
4.982,94 |
7.007,44 |
|
|
Shares in affiliated companies |
4.067,25 |
4.155,90 |
4.385,56 |
|
|
Loans to affiliated companies |
|
|
2.060,45 |
|
|
Shares in associated companies |
997,45 |
997,45 |
897,25 |
|
|
Loans to associated companies |
536,02 |
511,98 |
487,94 |
|
|
Securities |
187,77 |
187,77 |
206,40 |
|
|
Long term deposits and guarantees |
8,46 |
16,58 |
16,58 |
|
|
Provisions |
-867,77 |
-886,74 |
-1.046,74 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
29.631,03 |
34.585,76 |
35.307,93 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
12.084,82 |
15.505,12 |
11.910,60 |
|
|
Raw material inventory |
4.004,68 |
5.416,25 |
3.649,21 |
|
|
Finished goods |
8.029,01 |
10.088,87 |
9.452,42 |
|
|
Cash advance |
51,13 |
|
|
|
|
Provisions |
|
|
-1.191,03 |
|
|
III. Debtors |
16.541,96 |
18.183,80 |
22.859,96 |
|
|
Clients |
13.252,20 |
12.762,85 |
13.872,83 |
|
|
Amounts owned by affiliated companies |
4.293,85 |
5.736,44 |
8.947,27 |
|
|
Amounts owned by associated companies |
679,68 |
931,43 |
1.470,79 |
|
|
Other debts |
137,61 |
134,54 |
168,10 |
|
|
Labor costs |
2,49 |
2,49 |
2,47 |
|
|
Taxes refunds |
169,72 |
563,19 |
485,33 |
|
|
Provisions |
-1.993,59 |
-1.947,14 |
-2.086,83 |
|
|
IV. Short term financial assets |
27,35 |
116,09 |
160,59 |
|
|
Receivables in affiliated companies |
|
|
136,55 |
|
|
Shares in associated companies |
|
24,04 |
|
|
|
Loans to associated companies |
24,04 |
|
24,04 |
|
|
Short term investment |
95,36 |
92,05 |
|
|
|
Other loans |
|
|
42,53 |
|
|
Provisions |
-92,05 |
|
-42,53 |
|
|
V. Short term owners equity |
|
739,41 |
|
|
|
VI. Cash |
889,37 |
41,34 |
317,31 |
|
|
VII. Prepaid expenses and accrued income |
87,53 |
|
59,47 |
|
|
ASSETS (A + B + C + D) |
45.030,34 |
49.977,33 |
52.896,79 |
Balance Sheet (LIABILITIES)
|
(Figures given in thousands of
Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
20.107,92 |
20.856,97 |
11.879,78 |
|
|
I. Capital |
1.622,73 |
1.622,73 |
1.622,73 |
|
|
II. Premium share account |
2.128,50 |
2.128,50 |
2.128,50 |
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
14.266,64 |
15.154,67 |
6.205,57 |
|
|
Retained earnings |
324,55 |
324,55 |
324,55 |
|
|
Other funds |
13.942,09 |
14.830,12 |
5.881,02 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
2.090,05 |
1.951,07 |
1.922,98 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
130,84 |
343,84 |
417,18 |
|
|
Capital grants |
114,69 |
297,36 |
296,28 |
|
|
Rate difference |
16,11 |
46,48 |
120,90 |
|
|
Other deferred income |
0,04 |
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
245,26 |
564,35 |
644,42 |
|
|
Other provisions |
206,55 |
514,31 |
583,05 |
|
|
Reversion fund |
38,71 |
50,04 |
61,37 |
|
|
D) LONG TERM LIABILITIES |
3.352,19 |
2.194,46 |
7.256,51 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
2.276,34 |
1.964,52 |
7.163,56 |
|
|
Long term bank loans |
2.276,34 |
1.964,52 |
7.163,56 |
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
1.075,85 |
|
|
|
|
Other debts |
1.075,85 |
|
|
|
|
V. Deferred debts on shares |
|
229,94 |
92,95 |
|
|
Affiliated companies |
|
229,94 |
92,95 |
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
21.194,13 |
26.017,71 |
32.698,90 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
10.606,35 |
11.998,72 |
9.677,31 |
|
|
Loans and other debts |
10.598,59 |
11.992,61 |
9.664,00 |
|
|
Debt interest |
7,76 |
6,11 |
13,31 |
|
|
III. Short term debts with associated and
affiliated companies |
1.545,67 |
2.239,96 |
2.800,16 |
|
|
With affiliated companies |
1.534,54 |
2.239,96 |
2.800,16 |
|
|
Associeted companies |
11,13 |
|
|
|
|
IV. Trade creditors |
6.313,87 |
8.712,47 |
9.073,96 |
|
|
Expenses |
6.313,87 |
8.712,47 |
9.073,96 |
|
|
V. Other non trade payables |
2.728,24 |
3.066,56 |
11.147,47 |
|
|
Government |
1.267,63 |
1.308,64 |
1.390,01 |
|
|
Other debts |
1.100,16 |
1.294,91 |
9.370,13 |
|
|
Accounts receivable |
360,45 |
370,96 |
387,33 |
|
|
Short term deposits and guarantees |
|
92,05 |
|
|
|
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) |
45.030,34 |
49.977,33 |
52.896,79 |
Profit and Loss Account
|
(Figures given in thousands of
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 |
|
|
636,45 |
|
|
A.2. Supplies |
27.008,11 |
29.324,05 |
34.247,75 |
|
|
Material consumed |
4.597,89 |
6.893,93 |
12.484,50 |
|
|
Raw materials consumed |
16.936,76 |
17.002,64 |
16.561,77 |
|
|
Other expenses |
5.473,46 |
5.427,48 |
5.201,48 |
|
|
A.3. Labor cost |
4.965,75 |
4.923,52 |
5.247,53 |
|
|
Wages |
3.826,81 |
3.763,37 |
4.043,14 |
|
|
Social security expenses |
1.138,94 |
1.160,15 |
1.204,39 |
|
|
A.4. Assets depreciation |
1.031,14 |
951,48 |
837,92 |
|
|
A.5 Variance in provision for current
assets |
498,40 |
518,05 |
1.371,66 |
|
|
Variance in provision for inventory |
|
|
1.191,03 |
|
|
Variance in provision for bad debts |
498,40 |
518,05 |
180,63 |
|
|
A.6. Other operating costs |
7.252,89 |
7.121,37 |
7.068,00 |
|
|
External costs |
7.074,96 |
6.925,97 |
6.876,54 |
|
|
Taxes |
141,88 |
181,02 |
180,13 |
|
|
Other day to day expenses |
36,05 |
14,38 |
11,33 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
4.346,64 |
3.171,60 |
3.208,04 |
|
|
A.7. Financial expenses |
678,70 |
620,71 |
703,31 |
|
|
Debts with related companies |
25,34 |
61,38 |
96,34 |
|
|
Other companies debts |
653,36 |
559,33 |
606,97 |
|
|
A.8. Variation in financial investments
provision |
687,47 |
-32,98 |
-41,35 |
|
|
A.9. Exchange losses |
536,60 |
319,33 |
47,96 |
|
|
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) |
2.965,59 |
2.679,69 |
3.118,64 |
|
|
A.10. Variation in provision in fixed
assets |
|
126,73 |
182,31 |
|
|
A.11. Losses in fixed assets |
0,37 |
13,85 |
|
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
27,56 |
304,51 |
81,27 |
|
|
A.14. Prior year’s expenses and losses |
99,20 |
56,50 |
155,40 |
|
|
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) |
99,83 |
446,56 |
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
3.065,42 |
3.126,25 |
2.885,49 |
|
|
A.15. Corporate Taxes |
975,37 |
1.175,18 |
962,51 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
2.090,05 |
1.951,07 |
1.922,98 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
42.784,09 |
42.677,75 |
50.809,71 |
|
|
Sales |
42.784,09 |
42.677,75 |
50.809,71 |
|
|
B.2. Increase in inventory of finished
goods |
500,78 |
2.059,85 |
|
|
|
B.3. Expenses capitalized |
119,40 |
14,53 |
53,20 |
|
|
B.4. Other operating income |
1.698,66 |
1.257,94 |
1.754,44 |
|
|
Other incomes |
1.575,56 |
1.115,03 |
1.526,07 |
|
|
Grants |
67,89 |
129,77 |
143,51 |
|
|
Excess in provision for liabilities and
charges |
55,21 |
13,14 |
84,86 |
|
|
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 |
|
|
9,79 |
|
|
From associated companies |
|
|
9,79 |
|
|
B.6. Income from securities |
|
|
|
|
|
B.7. Other income from interrest |
174,32 |
230,23 |
339,85 |
|
|
From affiliated companies |
81,01 |
112,87 |
194,83 |
|
|
From associated companies |
27,29 |
43,28 |
62,51 |
|
|
From other companies |
66,02 |
74,08 |
82,51 |
|
|
B.8. Gains on exchange |
347,40 |
184,92 |
270,88 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
1.381,05 |
491,91 |
89,40 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
3,25 |
5,54 |
68,75 |
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
38,57 |
636,40 |
33,89 |
|
|
B.12. Extraordinary income |
170,26 |
223,44 |
60,63 |
|
|
B.13. Prior year’s income and profits |
14,88 |
82,77 |
22,56 |
|
|
B.IV. EXTRAORDINARY LOSSES
(A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
|
233,15 |
|
|
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 thousands of
Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
2,22 |
-0,25 |
19,05 |
|
|
Assets Turnover |
0,95 |
0,85 |
0,96 |
|
|
Productivity |
2,18 |
1,94 |
2,03 |
|
|
Increase of the Added Value |
4,38 |
-11,78 |
11,51 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,64 |
3,90 |
3,64 |
|
|
Financial Profitability |
10,39 |
9,36 |
16,19 |
|
|
Financial Expenses |
1,59 |
1,45 |
1,38 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
139,00 |
153,00 |
162,00 |
|
|
Suppliers’ Credit (In days of sales) |
86,00 |
115,00 |
94,00 |
|
|
Working Capital (In days of sales) |
71,00 |
72,00 |
18,00 |
|
|
Working Capital Requirement (In days of
sales) |
153,00 |
172,00 |
84,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
8.436,90 |
8.568,05 |
2.609,03 |
|
|
Working Capital Requirement |
18.126,53 |
20.409,34 |
11.808,44 |
|
|
Treasury |
-9.689,63 |
-11.841,29 |
-9.199,41 |
|
|
Balance Ratio |
1,55 |
1,56 |
1,15 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
54,51 |
56,45 |
75,54 |
|
|
Own / Permanent Funds |
84,36 |
87,05 |
58,82 |
|
|
Payback Capacity |
0,55 |
0,64 |
0,75 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,40 |
1,33 |
1,08 |
|
|
Immediate Liquidity |
0,04 |
0,01 |
0,02 |
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 |
0,00 |
0,00 |
|
FIXED ASSETS |
33,25 |
37,47 |
-4,22 |
|
ACCRUED EXPENSES |
0,00 |
0,58 |
-0,58 |
|
CURRENT ASSETS |
66,75 |
61,94 |
4,81 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
22,46 |
40,88 |
-18,42 |
|
ACCRUED INCOME |
0,79 |
1,78 |
-0,99 |
|
RISK AND EXPENDITURE
COVER |
1,22 |
0,17 |
1,05 |
|
LONG-TERM CREDITORS |
13,72 |
10,20 |
3,52 |
|
SHORT-TERM CREDITORS |
61,82 |
46,97 |
14,85 |
|
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 |
96,56 |
99,15 |
-2,58 |
|
Other operating income |
3,44 |
0,85 |
2,58 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
66,30 |
54,42 |
11,88 |
|
Other operation expenses |
13,43 |
16,67 |
-3,24 |
|
Added value |
20,27 |
28,91 |
-8,64 |
|
Labor cost |
9,97 |
13,41 |
-3,44 |
|
Gross Economic Result |
10,30 |
15,50 |
-5,20 |
|
Assets depreciation |
1,59 |
4,59 |
-3,00 |
|
Variation in provision
for current assets |
2,61 |
0,60 |
2,01 |
|
Net Economic Result |
6,10 |
10,31 |
-4,21 |
|
Financial income |
1,18 |
1,22 |
-0,04 |
|
Financial expenses |
1,35 |
2,18 |
-0,83 |
|
Variation in financial
investment provision |
-0,08 |
0,51 |
-0,59 |
|
Ordinary Activities
Result |
5,93 |
8,84 |
-2,92 |
|
Extraordinary income |
0,35 |
0,84 |
-0,49 |
|
Extraordinary expenses |
0,45 |
0,37 |
0,08 |
|
Variation in provision
in fixed assets |
0,35 |
0,02 |
0,33 |
|
Results before Taxes |
5,48 |
9,30 |
-3,82 |
|
Corporaye taxes |
1,83 |
2,83 |
-1,00 |
|
Net Result |
3,65 |
6,47 |
-2,82 |
|
Assets depreciation |
1,59 |
4,59 |
-3,00 |
|
Provisions fund
variation |
2,87 |
1,13 |
1,74 |
|
Net Self-Financing |
8,12 |
12,19 |
-4,07 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
19,05 |
-11,39 |
-2,14 |
5,52 |
|
Assets Turnover |
0,96 |
0,80 |
0,94 |
1,17 |
|
Fixed Assets Turnover |
2,89 |
1,65 |
2,61 |
4,50 |
|
Increase of the Added
Value |
11,51 |
-14,34 |
-4,51 |
12,15 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
2,03 |
1,55 |
1,87 |
2,34 |
|
Change of Personnel
Costs |
6,58 |
-0,01 |
6,67 |
18,40 |
|
Average Personnel Costs |
27,33 |
20,83 |
25,12 |
27,33 |
|
Value Added by Employees |
55,55 |
38,05 |
48,70 |
54,82 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
4.273,52 |
628,37 |
1.065,00 |
1.468,49 |
|
Operating Cash Flow |
5.417,62 |
782,81 |
1.301,99 |
1.878,76 |
|
Change in Cash Flow |
21,60 |
-28,83 |
-7,77 |
18,15 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
3,64 |
1,17 |
3,06 |
5,28 |
|
Financial Profitability |
16,19 |
4,60 |
8,73 |
16,46 |
|
Financial Expenses |
1,38 |
0,84 |
1,59 |
2,22 |
|
Gross Economic
Profitability |
10,24 |
8,25 |
11,29 |
15,65 |
|
Gross Financial
Profitability |
45,60 |
20,58 |
33,79 |
52,95 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
161,00 |
111,27 |
131,36 |
152,52 |
|
Suppliers’ Credit (In
days of sales) |
93,00 |
90,65 |
129,88 |
176,99 |
|
Working Capital (In days
of sales) |
18,00 |
-6,20 |
39,93 |
106,42 |
|
Working Capital
Requirement (In days of sales) |
83,00 |
36,13 |
89,26 |
135,05 |
|
Treasury (In days of
sales) |
0,00 |
-94,19 |
-46,77 |
34,68 |
|
Operating Current Assets |
250,00 |
188,74 |
225,36 |
302,41 |
|
BALANCE |
|
|
|
|
|
Working Capital |
2.609,03 |
-159,34 |
1.166,42 |
3.463,25 |
|
Working Capital
Requirement |
11.808,44 |
980,45 |
2.751,60 |
5.018,87 |
|
Treasury |
-9.199,41 |
-3.377,76 |
-1.577,80 |
1.383,29 |
|
Balance Ratio |
1,15 |
0,96 |
1,25 |
2,08 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
75,54 |
52,87 |
65,86 |
75,83 |
|
Own / Permanent Funds |
58,82 |
60,26 |
75,86 |
90,37 |
|
Payback Capacity |
0,75 |
0,40 |
0,59 |
0,78 |
|
Long term Indebtedness |
13,72 |
4,16 |
9,62 |
14,86 |
|
Gearing |
445,27 |
212,43 |
292,98 |
413,73 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,06 |
|
Assets Guarantee |
1,32 |
1,30 |
1,47 |
1,87 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,08 |
0,97 |
1,20 |
1,63 |
|
Immediate Liquidity |
0,02 |
0,02 |
0,06 |
0,43 |
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 |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)