MIRA
INFORM REPORT
|
Report Date : |
8th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
LEVANTINA Y ASOCIADOS DE MINERALES SOCIEDAD ANONIMA |
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Formerly Known as: |
INVEST EXPERIENCE 2005 S.A. |
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Registered Office : |
Carretera Autovia 330, 382, 03660 Novelda
(Alicante) |
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Country : |
Spain |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
16.08.2005 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Ø
Natural stone industries Ø Cutting, shaping
and finishing of 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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Identification and Characteristics
Tax Number A84433515
NAME LEVANTINA
Y ASOCIADOS DE MINERALES SOCIEDAD ANONIMA.
FORMER NAME INVEST
EXPERIENCE 2005 S.A.
BUSINESS ADDRESS CARRETERA
AUTOVIA 330, 382
Postcode 03660
NOVELDA (ALICANTE)
FORMER ADDRESS CALLE
VELAZQUEZ - CUARTA PIS, 51
Postcode 28001
MADRID (MADRID)
TELEPHONE 965606861
FAX 965606892
LEGAL FORM JOINT
STOCK COMPANY
DATE FOUNDED 16/08/2005
CAPITAL 13.800.000,00 Euros
PAID-UP CAPITAL 13.800.000,00 Euros
ACTIVITY 1244000 - Natural
stone industries
CNAE 2670 - Cutting,
shaping and finishing of stone
* Characteristics
of the main address
According to our
investigations dated 28/11/2006 these premises are used
as store located in a main .
Synthesis
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 95.999,66 Max.
Financial Elements
Figures given in Euros
Balance
sheet 2.005 (4)
OWN
FUNDS 60.120,00
TOTAL
ASSET 60.120,00
THE FIGURES FOR
THE LAST BALANCE SHEET ARE RELEVANT:
SOURCE: FROM
THE MERCANTILE REGISTER
DATE: 31/07/2006
Comparative Sector Analysis
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|
Company |
Sector |
Difference |
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|
(2.005)
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|
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|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
|
99,17 |
-99,17 |
|
ADDED
VALUE |
|
33,39 |
-33,39 |
|
BUSINESS
RESULT |
|
4,66 |
-4,66 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
100,00 |
38,67 |
61,33 |
|
DEBT |
|
61,33 |
-61,33 |
Compared sector (CNAE): 267 - Industria de
la piedra
Number of companies: 821
Size (Sales Figure): All companies
The company’s own resources are
100,00% , 61,33% above the mean for the sector. -61,33%
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 |
DESARROLLO Y GESTION DEL SUDOESTE S A |
30/06/2006 |
|
BOARD MEMBER |
GOMEZ CARRION CIPRIANO |
10/01/2007 |
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BOARD MEMBER |
ALBAGES DESARROLLO SA |
30/06/2006 |
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BOARD MEMBER |
SPINNAKER HOLDINGS SARL |
30/06/2006 |
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BOARD MEMBER |
CABERWOOD SARL |
30/06/2006 |
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BOARD MEMBER |
BILBAUDE SARL |
30/06/2006 |
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BOARD MEMBER |
CHARTERHOUSE CORPORATE DIRECTORS LIMITED |
30/06/2006 |
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BOARD MEMBER |
BENTHALL EDWARD |
30/06/2006 |
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BOARD MEMBER |
GONZALEZ DEL VALLE CHAVARRI MARTIN |
30/06/2006 |
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AUDITOR |
KPMG AUDITORES SL |
02/02/2007 |
Financial Links
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Shareholders |
||||
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Company Name |
CIF/Country |
|
Source |
Information Date |
|
ANTINEA INVERSIONES S.L. |
B53591418 |
Indet. |
B.O.R.M.E. |
04/01/2007 |
|
GALLARDO GALLARDO ANTONIA |
|
Indet. |
B.O.R.M.E. |
04/01/2007 |
|
MARCELINO MARTINEZ SL |
B36010098 |
Indet. |
B.O.R.M.E. |
04/01/2007 |
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HIDALGO MURILLO FERNANDA |
|
Indet. |
B.O.R.M.E. |
04/01/2007 |
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DIMORPHANDRA S.L. |
B53290961 |
Indet. |
B.O.R.M.E. |
04/01/2007 |
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SPINNAKER HOLDINGS SARL |
PAÍSES DIVERSOS |
Indet. |
B.O.R.M.E. |
15/11/2006 |
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Shareholdings |
|||||
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Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
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CANTERAS CORALITO SL |
B03242401 |
100,00% |
B.O.R.M.E. |
04/01/2007 |
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JOSE MARIA MANEZ VERDU S.A. |
A03069150 |
100,00% |
B.O.R.M.E. |
04/01/2007 |
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B54045125 |
100,00% |
B.O.R.M.E. |
16/02/2007 |
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INTERNATIONAL STONE DESING |
ESTADOS UNIDOS |
75,00% |
CINCO DIAS |
12/02/2007 |
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LEVANTINA DE GRANITOS BRASIL LTDA |
BRASIL |
66,77% |
B.O.R.M.E. |
04/01/2007 |
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GRANINTER SA |
A36111573 |
61,00% |
OWN SOURCES |
06/03/2007 |
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Company with solvency rating
below 7 |
||||
QUARTZ STONE PLUS SL
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Appointments |
27/02/2007 |
115354 |
ALICANTE |
|
Appointments |
02/02/2007 |
061758 |
ALICANTE |
|
Appointments |
02/02/2007 |
061757 |
ALICANTE |
|
Appointments |
30/01/2007 |
051776 |
ALICANTE |
|
Appointments |
30/01/2007 |
051775 |
ALICANTE |
Bank Entities
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Entity |
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BANKINTER, S.A. |
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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 31/07/2006
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2005 (4)
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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B) FIXED ASSETS |
601,20 |
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I. Establishment expenses |
601,20 |
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II. Intangible assets |
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III. Tangible assets |
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IV. Financial assets |
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V. Owners equity |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
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D) CURRENT ASSETS |
59.518,80 |
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I. Not paid in shareholder capital |
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II. Inventory |
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III. Debtors |
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IV. Short term financial assets |
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V. Short term owners equity |
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VI. Cash |
59.518,80 |
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VII. Prepaid expenses and accrued income |
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ASSETS (A + B + C + D) |
60.120,00 |
Balance Sheet (LIABILITIES)
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( ) |
31/12/2005 (4)
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A) SHAREHOLDERS EQUITY |
60.120,00 |
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I. Capital |
60.120,00 |
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II. Premium share account |
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III. Revaluation reserve |
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IV. Reserves |
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V. Prior year earnings |
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VI. Prior year profit or losses |
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VII. Dividend paid during the year |
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VIII. Own shares for change in capital |
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B) DEFERRED INCOME |
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C) PROVISIONS FOR LIABILITIES AND EXPENSES |
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D) LONG TERM LIABILITIES |
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E) SHORT TERM LIABILITIES |
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F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
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LIABILITIES (A + B + C + D + E + F) |
60.120,00 |
Profit and Loss Account
|
(Figures given in Euros) |
31/12/2005 (4)
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A) EXPENSES (A.1 a A.15) |
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A.1 Operating Expenses |
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A.3. Labor cost |
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A.3. Assets depreciation |
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A.4. Variance in provision for current
assets |
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A.5. Other operating costs |
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A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
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A.6. Financial expenses |
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A.7. Variation in financial investments
provision |
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A.8. Exchange losses |
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A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
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A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
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A.9. Variation in provision in fixed
assets |
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A.10. Losses in fixed assets |
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A.11. Losses from shares and bonds |
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A.12. Extraordinary charges |
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A.13. Prior year’s expenses and losses |
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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) |
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A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
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A.14. Corporate Taxes |
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A.15. Other taxes |
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A.VI. YEAR END RESULT (PROFIT) (A.V-A.14-A.15) |
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B) INCOMES (B.1 a B.8) |
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B.1. Operating income |
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B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
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B.2. Financial Income |
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B.3. Gains on exchange |
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B.II. FINANCIAL LOSSES (A.6+A.7+A.8-B.2-B.3) |
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B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
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B.4. Gains from disposal of fixed assets |
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B.5. Gains from dealing in own shares |
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B.6. Paid in surplus |
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B.7. Extraordinary income |
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B.8. Prior year’s income and profits |
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B.IV. EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
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B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
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B.VI. NET LOSS (B.V+A.14+A.15) |
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Main Ratios
|
(Figures given in Euros) |
2.005 (4) |
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|
|
ACTIVITY |
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|
|
Increase of the Sales Figures |
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|
|
Assets Turnover |
|
|
|
Productivity |
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Increase of the Added Value |
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|
|
PROFITABILITY |
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|
|
Economic Profitability |
|
|
|
Financial Profitability |
|
|
|
Financial Expenses |
|
|
|
BALANCE (IN DAYS OF SALES) |
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|
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Customers’ Credit (In days of sales) |
|
|
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Suppliers’ Credit (In days of sales) |
|
|
|
Working Capital (In days of sales) |
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|
|
Working Capital Requirement (In days of
sales) |
|
|
|
Treasury (In days of sales) |
|
|
|
BALANCE |
|
|
|
Working Capital |
59.518,80 |
|
|
Working Capital Requirement |
0,00 |
|
|
Treasury |
59.518,80 |
|
|
Balance Ratio |
100,00 |
|
|
SOLVENCY |
|
|
|
Borrowing Ratio |
|
|
|
Own / Permanent Funds |
100,00 |
|
|
Payback Capacity |
|
|
|
LIQUIDITY |
|
|
|
General Liquidity |
|
|
|
Immediate Liquidity |
|
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 |
0,01 |
-0,01 |
|
FIXED ASSETS |
1,00 |
40,31 |
-39,31 |
|
ACCRUED EXPENSES |
0,00 |
0,51 |
-0,51 |
|
CURRENT ASSETS |
99,00 |
59,17 |
39,83 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
100,00 |
38,67 |
61,33 |
|
ACCRUED INCOME |
0,00 |
1,75 |
-1,75 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,11 |
-0,11 |
|
LONG-TERM CREDITORS |
0,00 |
12,51 |
-12,51 |
|
SHORT-TERM CREDITORS |
0,00 |
46,91 |
-46,91 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,05 |
-0,05 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
|
-9,29 |
1,67 |
13,77 |
|
Assets Turnover |
|
0,85 |
1,21 |
1,67 |
|
Fixed Assets Turnover |
|
1,78 |
3,12 |
5,91 |
|
Increase of the Added
Value |
|
-6,49 |
3,35 |
14,35 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
|
1,16 |
1,30 |
1,52 |
|
Change of Personnel
Costs |
|
-1,62 |
6,62 |
15,65 |
|
Average Personnel Costs |
|
16.441,74 |
19.294,21 |
24.297,00 |
|
Value Added by Employees |
|
20.805,46 |
25.904,69 |
34.304,57 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
|
15.665,61 |
38.401,28 |
109.628,38 |
|
Operating Cash Flow |
|
20.425,29 |
50.649,03 |
143.484,26 |
|
Change in Cash Flow |
|
-22,91 |
-0,80 |
22,73 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
|
0,87 |
2,38 |
4,75 |
|
Financial Profitability |
|
3,49 |
8,72 |
15,24 |
|
Financial Expenses |
|
0,49 |
1,25 |
2,41 |
|
Gross Economic
Profitability |
|
6,63 |
10,32 |
15,11 |
|
Gross Financial
Profitability |
|
20,19 |
36,09 |
59,45 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
|
40,44 |
74,33 |
119,99 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
|
-19,82 |
22,39 |
72,02 |
|
Working Capital
Requirement (In days of sales) |
|
-38,48 |
2,31 |
50,41 |
|
Treasury (In days of
sales) |
|
3,82 |
16,08 |
38,28 |
|
Operating Current Assets |
|
120,80 |
171,46 |
244,66 |
|
BALANCE |
|
|
|
|
|
Working Capital |
59.518,80 |
-26.145,33 |
25.463,67 |
135.378,44 |
|
Working Capital
Requirement |
0,00 |
-56.904,13 |
4.203,77 |
90.874,78 |
|
Treasury |
59.518,80 |
4.160,48 |
22.380,85 |
73.216,00 |
|
Balance Ratio |
100,00 |
0,87 |
1,19 |
1,94 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
|
50,93 |
69,47 |
82,30 |
|
Own / Permanent Funds |
100,00 |
49,13 |
72,76 |
94,79 |
|
Payback Capacity |
|
0,31 |
0,48 |
0,75 |
|
Long term Indebtedness |
|
2,20 |
11,20 |
24,38 |
|
Gearing |
100,00 |
203,79 |
327,54 |
564,91 |
|
Financing Basic Ratio |
1,00 |
0,99 |
1,00 |
1,00 |
|
Assets Guarantee |
|
1,15 |
1,35 |
1,89 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
|
0,88 |
1,15 |
1,73 |
|
Immediate Liquidity |
|
0,03 |
0,12 |
0,35 |
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%)