MIRA
INFORM REPORT
|
Report Date : |
8th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
MATERIAS QUIMICAS SA |
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Registered Office : |
Pasaje
Salvador Espriu 40 Pg Gran Via Sur, 34 08908 L Hospitalet De
Llobregat (Barcelona) |
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Country : |
Spain |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
20.09.1977 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of industrial chemical products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Identification and
Characteristics
Tax Number A08469231
NAME MATERIAS
QUIMICAS SA
BUSINESS ADDRESS PASAJE
SALVADOR ESPRIU 40 PG GRAN VIA SUR, 34
Postcode 08908
L HOSPITALET DE LLOBREGAT (BARCELONA)
FORMER ADDRESS CALLE
TEMPLE, 18
Postcode 08038
BARCELONA (BARCELONA)
TELEPHONE 932232994
FAX 932231306
LEGAL FORM JOINT
STOCK COMPANY
DATE FOUNDED 20/09/1977
CAPITAL 270.455,45 Euros
PAID-UP CAPITAL 270.455,45 Euros
NUMBER OF EMPLOYEES 18
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 08/11/2004 these premises are rented
used as office, warehouse located in a secondary
park of industries .
Synthesis
FINANCIAL
SITUATION (Year ending: 31/12/2005)
PROFITABILITY Medium
TREASURY Excellent
BALANCE SHEET Excellent
DEBT Medium
INCIDENTS
COMMITMENTS Met
to date
INCIDENTS Occasional
PREVIOUS
EXPERIENCE
PREVIOUS EXPERIENCE Favourable
Credit Appraisal
CREDIT ACCORDING
TO OBJECTIVE DATA (From 0 to 6.000.000,00 Euros):
FAVOURABLE
TOWARDS 385.000,00 Max. Euros
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2.003 (12) |
Balance
sheet 2.004 (12) |
Balance sheet 2.005
(12) |
%
Sales |
|
|
SALES |
12.417.901,61 |
14.185.063,84 |
16.991.884,97 |
|
|
|
ADDED VALUE |
1.303.683,12 |
1.513.971,66 |
1.759.383,90 |
10,35 |
|
|
BUSINESS RESULT |
206.881,15 |
262.818,74 |
328.043,13 |
1,93 |
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|
OWN FUNDS |
2.156.206,33 |
2.419.025,07 |
2.747.068,20 |
|
|
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DEBT |
4.359.202,46 |
6.100.522,22 |
6.888.376,41 |
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|
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TOTAL ASSET |
6.905.965,24 |
8.810.103,74 |
9.926.001,06 |
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|
The sales of 16.991.884,97
Euros show a change of 19,79% compared with
2.004 . Between 2.003 and 2.004 , this
change was 14,23% . |
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|
Added value grew by 16,21%
compared with the previous year. Shareholders equity are 2.747.068,20
Euros for an indebtedness of 6.888.376,41 Euros
. |
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|
The result 328.043,13
Euros means financial profitability of 11,94% and economic
profitability of 3,30% . This result means growth of
24,82% compared with the 2.004 . |
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THE FIGURES FOR THE LAST BALANCE SHEET ARE
RELEVANT: |
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SOURCE: FROM THE MERCANTILE REGISTER |
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DATE: 07/11/2006 |
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Results Distribution |
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Annual Report Year Source: 2.005 |
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Figures given in Euros |
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Distribution Base |
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Profit and Loss |
328.043 |
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Total of Amounts to be
distributed |
328.043 |
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Distribution a |
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Voluntary Reserve |
328.043 |
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Auditors’ opinion: |
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FAVOURABLE (2.005) |
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Auditors: |
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|
UTRILLA ARI?O JORGE |
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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 |
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|
|
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SALES |
100,00 |
99,27 |
0,73 |
|
ADDED
VALUE |
10,35 |
13,51 |
-3,16 |
|
BUSINESS
RESULT |
1,93 |
2,93 |
-1,00 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
27,68 |
38,75 |
-11,07 |
|
DEBT |
69,40 |
61,25 |
8,15 |
Compared sector (CNAE): 515 - Comercio al
por mayor de productos no agrarios semielaborados, chatarra y productos de
desecho
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 10,35%
s/ the production value, and 3,16% below the mean for the sector.
The company’s business result was
1,93% of the PV, 1,00% below the mean for the sector.
The company’s own resources are 27,68%
, 11,07% below the mean for the sector.
The company’s outside resources are
69,40% , 8,15% above the mean for the sector.
Legal Actions
|
No legal incidences registered for this
company in the official source |
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CLAIM FILED AGAINST THE
ADMINISTRATION: 2 |
( First 28/10/2003,
Last 09/03/2005 ) |
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1 |
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0 |
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1 |
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AFFECTED BY: No significant elemento |
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With
the Social Security:
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Last claim filed against the
administration |
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(Figures given in Euros) |
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With the Social Security: 1 |
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Information Date |
Organization |
Amount |
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28/10/2003 |
CENTRAL TREASURY FOR SOCIAL
SECURITY DIRECCION PROVINCIAL DE TRABAJO Y SEGURIDAD SOCIAL |
344,83 |
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Rest of Organisms: 1 |
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Information Date |
Organization |
Amount |
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09/03/2005 |
TOWN/ CITY HALL DE BARCELONA |
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Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
SOLE ADMINISTRATOR |
ASTEL 2000 SL REPR 143 RRM GOJENOLA SANZ
GERMAN |
21/04/2005 |
|
AUDITOR |
UTRILLA ARINO JORGE |
06/02/2007 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
GOJENOLA SANZ GERMAN |
|
FINANCIAL MANAGER |
POZUELO POZUELO BALTASAR |
Financial Links
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Shareholders |
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Company Name |
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Source |
Information Date |
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GOJENOLA SANZ GERMAN |
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Indet. |
OWN SOURCES |
11/01/2007 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Appointments |
06/02/2007 |
066693 |
BARCELONA |
|
Registration of accounts
(2005) |
11/12/2006 |
981980 |
BARCELONA |
|
Appointments |
01/02/2006 |
052654 |
BARCELONA |
|
Registration of accounts
(2004) |
08/11/2005 |
881618 |
BARCELONA |
|
Resignations |
21/04/2005 |
182665 |
BARCELONA |
Brands, Signs and Commercial
Names
|
Prevailing Brands |
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Name: |
HICOL |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2595956 |
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Request Date: |
11/05/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 1
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Name: |
HYCOL |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2595958 |
||
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Request Date: |
11/05/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 1
|
|
||||
|
Name: |
SEACOL |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2595957 |
||
|
Request Date: |
11/05/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 1
|
|
||||
Total Marcas: 3
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO BILBAO
VIZCAYA ARGENTARIA, S.A. |
5404 |
PASSEIG DE LA
ZONA FRANCA, 168 |
BARCELONA |
BARCELONA |
|
BARCLAYS BANK,
S.A. |
0022 |
PS DE GRACIA 30 |
BARCELONA |
BARCELONA |
|
BANCO SANTANDER
CENTRAL HISPANO, S.A. |
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|
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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 07/11/2006
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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|
|
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B) FIXED ASSETS |
253.585,55 |
234.402,52 |
195.965,77 |
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I. Establishment expenses |
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|
|
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II. Intangible assets |
148.602,58 |
119.408,76 |
71.210,93 |
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Leasing |
190.041,18 |
193.903,18 |
146.409,52 |
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Amortization |
-41.438,60 |
-74.494,42 |
-75.198,59 |
|
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III. Tangible assets |
104.982,97 |
114.993,76 |
124.754,84 |
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|
Machinery, equipment and other |
24.213,33 |
28.061,98 |
47.895,38 |
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|
Other property plant and equipement |
124.441,75 |
151.060,16 |
165.148,66 |
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Other assets |
156.456,15 |
158.593,25 |
188.473,16 |
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Depreciation |
-200.128,26 |
-222.721,63 |
-276.762,36 |
|
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IV. Financial assets |
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|
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V. Owners equity |
|
|
|
|
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VI. Long term trade liabilities |
|
|
|
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C) DEFERRED EXPENSES |
7.535,72 |
3.823,52 |
4.403,82 |
|
|
D) CURRENT ASSETS |
6.644.843,97 |
8.571.877,70 |
9.725.631,47 |
|
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I. Not paid in shareholder capital |
|
|
|
|
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II. Inventory |
2.308.481,87 |
3.365.295,75 |
3.247.969,82 |
|
|
Goods available for sale |
2.119.028,13 |
3.484.628,70 |
3.440.707,06 |
|
|
Cash advance |
387.433,11 |
180.293,15 |
198.484,13 |
|
|
Provisions |
-197.979,37 |
-299.626,10 |
-391.221,37 |
|
|
III. Debtors |
4.187.755,22 |
5.107.429,82 |
6.392.674,90 |
|
|
Clients |
3.621.096,75 |
4.517.405,40 |
5.831.926,09 |
|
|
Other debts |
653.833,68 |
655.585,55 |
638.848,26 |
|
|
Taxes refunds |
61.732,76 |
83.346,84 |
83.419,26 |
|
|
Provisions |
-148.907,97 |
-148.907,97 |
-161.518,71 |
|
|
IV. Short term financial assets |
29.499,48 |
30.017,20 |
27.717,20 |
|
|
Short Term Deposit and guarantees |
29.499,48 |
30.017,20 |
27.717,20 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
119.107,40 |
69.134,93 |
57.269,55 |
|
|
VII. Prepaid expenses and accrued income |
|
|
|
|
|
ASSETS (A + B + C + D) |
6.905.965,24 |
8.810.103,74 |
9.926.001,06 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
2.156.206,33 |
2.419.025,07 |
2.747.068,20 |
|
|
I. Capital |
270.455,45 |
270.455,45 |
270.455,45 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
1.678.869,73 |
1.885.750,88 |
2.148.569,62 |
|
|
Retained earnings |
77.551,06 |
77.551,06 |
77.551,06 |
|
|
Other funds |
1.601.318,67 |
1.808.199,82 |
2.071.018,56 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
206.881,15 |
262.818,74 |
328.043,13 |
|
|
VII. Dividend paid during the year |
|
|
|
|
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VIII. Own shares for change in capital |
|
|
|
|
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B) DEFERRED INCOME |
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
390.556,45 |
290.556,45 |
290.556,45 |
|
|
Other provisions |
390.556,45 |
290.556,45 |
290.556,45 |
|
|
D) LONG TERM LIABILITIES |
86.985,47 |
82.736,55 |
57.845,08 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
86.985,47 |
82.736,55 |
57.845,08 |
|
|
Long term bank loans |
|
82.736,55 |
57.845,08 |
|
|
Leasing |
86.985,47 |
|
|
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
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IV. Other creditors |
|
|
|
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V. Deferred debts on shares |
|
|
|
|
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VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
4.272.216,99 |
6.017.785,67 |
6.830.531,33 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
2.155.050,61 |
3.429.880,27 |
4.319.411,53 |
|
|
Loans and other debts |
2.107.281,32 |
3.349.428,12 |
4.270.548,39 |
|
|
Debt interest |
3.520,37 |
11.643,62 |
21.374,52 |
|
|
Leasing |
44.248,92 |
68.808,53 |
27.488,62 |
|
|
III. Short term debts with associated and
affiliated companies |
|
|
|
|
|
IV. Trade creditors |
1.667.209,90 |
2.120.127,75 |
2.031.468,80 |
|
|
Expenses |
1.667.209,90 |
2.120.127,75 |
2.031.468,80 |
|
|
V. Other non trade payables |
449.956,48 |
467.777,65 |
479.651,00 |
|
|
Government |
203.194,65 |
221.633,87 |
224.806,15 |
|
|
Other debts |
165.070,24 |
163.717,97 |
147.730,99 |
|
|
Accounts receivable |
81.691,59 |
82.425,81 |
107.113,86 |
|
|
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) |
6.905.965,24 |
8.810.103,74 |
9.926.001,06 |
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.16) |
|
|
|
|
|
A.1. Change in stocks of finished goods
and work in progress |
|
|
|
|
|
A.2. Supplies |
10.112.408,67 |
11.484.783,59 |
14.024.385,17 |
|
|
Material consumed |
10.112.408,67 |
11.484.783,59 |
14.024.385,17 |
|
|
A.3. Labor cost |
864.868,08 |
926.657,51 |
950.445,17 |
|
|
Wages |
730.357,88 |
786.868,92 |
807.298,37 |
|
|
Social security expenses |
134.510,20 |
139.788,59 |
143.146,80 |
|
|
A.4. Assets depreciation |
57.920,07 |
57.707,66 |
55.668,57 |
|
|
A.5 Variance in provision for current
assets |
-10.845,12 |
41.646,73 |
104.206,01 |
|
|
Variance in provision for inventory |
6.785,24 |
41.646,73 |
91.595,27 |
|
|
Variance in provision for bad debts |
-17.630,36 |
|
12.610,74 |
|
|
A.6. Other operating costs |
1.001.809,82 |
1.186.308,59 |
1.208.115,90 |
|
|
External costs |
993.030,07 |
1.171.803,70 |
1.198.205,51 |
|
|
Taxes |
8.779,75 |
14.504,89 |
9.910,39 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
391.740,09 |
487.959,76 |
649.064,15 |
|
|
A.7. Financial expenses |
84.728,83 |
109.799,41 |
170.423,44 |
|
|
Other companies debts |
84.728,83 |
109.799,41 |
170.423,44 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
38.750,16 |
12.145,57 |
17.051,73 |
|
|
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) |
302.652,70 |
384.200,71 |
483.754,20 |
|
|
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 |
163,43 |
10.464,90 |
3.041,43 |
|
|
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) |
15.625,99 |
20.135,82 |
20.927,54 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
318.278,69 |
404.336,53 |
504.681,74 |
|
|
A.15. Corporate Taxes |
111.397,54 |
141.517,79 |
176.638,61 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
206.881,15 |
262.818,74 |
328.043,13 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
12.417.901,61 |
14.185.063,84 |
16.991.884,97 |
|
|
Sales |
12.522.290,35 |
14.317.885,91 |
17.191.206,08 |
|
|
Discounts |
-104.388,74 |
-132.822,07 |
-199.321,11 |
|
|
B.2. Increase in inventory of finished
goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
|
|
|
|
|
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 |
1.561,99 |
1.288,99 |
1.403,01 |
|
|
From other companies |
1.561,99 |
1.288,99 |
1.403,01 |
|
|
B.8. Gains on exchange |
32.829,61 |
16.896,94 |
20.762,21 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
89.087,39 |
103.759,05 |
165.309,95 |
|
|
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 |
15.789,42 |
30.600,72 |
23.968,97 |
|
|
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) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
-6,17 |
14,23 |
19,79 |
|
|
Assets Turnover |
1,80 |
1,61 |
1,71 |
|
|
Productivity |
1,51 |
1,63 |
1,85 |
|
|
Increase of the Added Value |
1,88 |
16,13 |
16,21 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
3,00 |
2,98 |
3,31 |
|
|
Financial Profitability |
9,60 |
10,87 |
11,94 |
|
|
Financial Expenses |
0,68 |
0,77 |
1,00 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
121,00 |
130,00 |
135,00 |
|
|
Suppliers’ Credit (In days of sales) |
59,00 |
66,00 |
52,00 |
|
|
Working Capital (In days of sales) |
69,00 |
65,00 |
61,00 |
|
|
Working Capital Requirement (In days of
sales) |
127,00 |
149,00 |
151,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
2.372.626,98 |
2.554.092,03 |
2.895.100,14 |
|
|
Working Capital Requirement |
4.379.070,71 |
5.884.820,17 |
7.129.524,92 |
|
|
Treasury |
-2.006.443,73 |
-3.330.728,14 |
-4.234.424,78 |
|
|
Balance Ratio |
10,09 |
11,72 |
15,45 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
63,12 |
69,25 |
69,40 |
|
|
Own / Permanent Funds |
81,87 |
86,63 |
88,75 |
|
|
Payback Capacity |
0,35 |
0,43 |
0,40 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,56 |
1,42 |
1,42 |
|
|
Immediate Liquidity |
0,04 |
0,02 |
0,01 |
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 |
0,02 |
-0,02 |
|
FIXED ASSETS |
1,97 |
26,57 |
-24,60 |
|
ACCRUED EXPENSES |
0,04 |
0,31 |
-0,27 |
|
CURRENT ASSETS |
97,98 |
73,11 |
24,87 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
27,68 |
38,75 |
-11,07 |
|
ACCRUED INCOME |
0,00 |
0,26 |
-0,26 |
|
RISK AND EXPENDITURE
COVER |
2,93 |
0,17 |
2,76 |
|
LONG-TERM CREDITORS |
0,58 |
6,88 |
-6,30 |
|
SHORT-TERM CREDITORS |
68,81 |
53,94 |
14,87 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,01 |
-0,01 |
|
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 |
99,27 |
0,73 |
|
Other operating income |
0,00 |
0,73 |
-0,73 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
82,54 |
78,54 |
4,00 |
|
Other operation expenses |
7,11 |
7,95 |
-0,84 |
|
Added value |
10,35 |
13,51 |
-3,16 |
|
Labor cost |
5,59 |
7,45 |
-1,86 |
|
Gross Economic Result |
4,76 |
6,06 |
-1,30 |
|
Assets depreciation |
0,33 |
1,32 |
-1,00 |
|
Variation in provision
for current assets |
0,61 |
0,30 |
0,32 |
|
Net Economic Result |
3,82 |
4,44 |
-0,62 |
|
Financial income |
0,13 |
0,60 |
-0,47 |
|
Financial expenses |
1,10 |
0,95 |
0,15 |
|
Variation in financial investment
provision |
0,00 |
0,00 |
-0,00 |
|
Ordinary Activities
Result |
2,85 |
4,08 |
-1,24 |
|
Extraordinary income |
0,14 |
0,41 |
-0,27 |
|
Extraordinary expenses |
0,02 |
0,22 |
-0,20 |
|
Variation in provision
in fixed assets |
0,00 |
0,03 |
-0,03 |
|
Results before Taxes |
2,97 |
4,24 |
-1,27 |
|
Corporaye taxes |
1,04 |
1,31 |
-0,27 |
|
Net Result |
1,93 |
2,93 |
-1,00 |
|
Assets depreciation |
0,33 |
1,32 |
-1,00 |
|
Provisions fund
variation |
0,61 |
0,33 |
0,28 |
|
Net Self-Financing |
2,87 |
4,59 |
-1,71 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
19,79 |
-1,33 |
5,33 |
13,26 |
|
Assets Turnover |
1,71 |
1,31 |
1,65 |
2,15 |
|
Fixed Assets Turnover |
84,80 |
4,67 |
9,17 |
19,61 |
|
Increase of the Added
Value |
16,21 |
-5,60 |
5,38 |
14,86 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,85 |
1,45 |
1,80 |
2,32 |
|
Change of Personnel
Costs |
2,57 |
2,80 |
9,07 |
15,90 |
|
Average Personnel Costs |
52.802,51 |
21.586,06 |
27.828,95 |
35.212,61 |
|
Value Added by Employees |
97.743,55 |
37.164,07 |
50.708,88 |
72.985,12 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
487.917,71 |
232.387,65 |
456.446,54 |
847.505,73 |
|
Operating Cash Flow |
808.938,73 |
348.856,67 |
621.024,74 |
1.135.561,64 |
|
Change in Cash Flow |
34,72 |
-19,07 |
1,16 |
24,08 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
3,30 |
1,73 |
3,49 |
6,93 |
|
Financial Profitability |
11,94 |
5,72 |
10,98 |
18,15 |
|
Financial Expenses |
1,00 |
0,34 |
0,70 |
1,15 |
|
Gross Economic Profitability |
8,15 |
5,46 |
8,69 |
13,76 |
|
Gross Financial
Profitability |
29,45 |
17,33 |
26,70 |
42,04 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
135,00 |
74,18 |
99,59 |
125,75 |
|
Suppliers’ Credit (In
days of sales) |
52,00 |
31,25 |
68,61 |
104,85 |
|
Working Capital (In days
of sales) |
61,00 |
12,06 |
36,47 |
73,51 |
|
Working Capital
Requirement (In days of sales) |
151,00 |
22,16 |
66,91 |
102,05 |
|
Treasury (In days of
sales) |
0,00 |
-52,24 |
-13,54 |
9,35 |
|
Operating Current Assets |
206,00 |
125,11 |
165,51 |
204,59 |
|
BALANCE |
|
|
|
|
|
Working Capital |
2.895.100,14 |
346.893,64 |
1.261.232,95 |
2.691.262,42 |
|
Working Capital
Requirement |
7.129.524,92 |
728.690,83 |
2.018.402,01 |
3.839.256,03 |
|
Treasury |
-4.234.424,78 |
-1.823.814,59 |
-470.376,35 |
307.196,45 |
|
Balance Ratio |
15,45 |
1,22 |
1,90 |
3,62 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
69,40 |
47,63 |
65,26 |
79,10 |
|
Own / Permanent Funds |
88,74 |
76,18 |
93,60 |
99,76 |
|
Payback Capacity |
0,40 |
0,24 |
0,34 |
0,48 |
|
Long term Indebtedness |
0,58 |
0,00 |
2,09 |
8,31 |
|
Gearing |
361,33 |
190,93 |
287,84 |
478,36 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,44 |
1,22 |
1,48 |
2,07 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,42 |
1,08 |
1,30 |
1,75 |
|
Immediate Liquidity |
0,01 |
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 |
|
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%)