MIRA
INFORM REPORT
|
Report Date : |
12th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
HERAMIKA SL |
|
|
|
|
Registered Office : |
Poligono Industrial Magdalena Cl Peri Once, 20 12004 Castellon ( Castellón ) |
|
|
|
|
Country : |
Spain |
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|
|
|
Financials (as on) : |
31.12.2005 |
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|
|
|
Date of Incorporation : |
12.01.1988 |
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|
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|
Legal Form : |
Limited Liability Company |
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|
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|
Line of Business : |
Wholesale of industrial chemical products Wholesale of chemical products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
Identification and
Characteristics
TAX NUMBER: B12091237
NAME: HERAMIKA
SL
BUSINESS ADDRESS:* POLIGONO
INDUSTRIAL MAGDALENA CL PERI ONCE, 20
12004
CASTELLON ( CASTELLÓN )
FORMER ADDRESS: CALLE
MUSEROS, 5
12001
CASTELLON DE L PLANA ( CASTELLÓN )
TELEPHONE: 964255583
FAX: 964256933
LEGAL FORM: LIMITED
LIABILITY COMPANY
DATE FOUNDED: 12/01/1988
CAPITAL: 60.101,21
EUROS
NUMBER OF EMPLOYEES: 15
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 these premises are rented used as store
located in a main commercial area .
Synthesis
Year
ending:31/12/2005
FINANCIAL
SITUATION
PROFITABILITY Nil
TREASURY Excellent
BALANCE SHEET Excellent
DEBT Low
INCIDENTS
COMMITMENTS Respected
INCIDENTS None
or Negligible
PREVIOUS
EXPERIENCE
PREVIOUS EXPERIENCE Favourable
Credit Appraisal
CREDIT
ACCORDING TO OBJECTIVE DATA (From 0 to 6.000.000 Euros):
FAVOURABLE
TOWARDS 82.002,09 Max. Euros
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2003
(12) |
Balance
sheet 2004
(12) |
Balance
sheet 2005
(12) |
% Sales |
|
SALES |
2.424.852,28 |
2.199.532,81 |
1.900.325,02 |
|
|
ADDED VALUE |
490.125,89 |
489.079,27 |
449.090,24 |
23,63 |
|
BUSINESS RESULT |
-21.216,93 |
-17.171,89 |
7.316,71 |
0,39 |
|
OWN FUNDS |
891.255,30 |
874.083,41 |
881.400,12 |
|
|
DEBT |
1.058.724,65 |
885.191,17 |
731.095,53 |
|
|
TOTAL ASSET |
1.949.979,95 |
1.759.274,58 |
1.612.495,65 |
|
The
sales of de 1.900.325,02 Euros show a change of -13,6% compared with 2004. Between
2003 and 2004, this change was -9,29%.
Added
value grew by -8,17% compared with the previous year. Shareholders equity are
881.400,12 Euros for an indebtedness of 731.095,53 Euros
The
result 7.316,71 Euros means financial profitability of 0,83% and economic
profitability of 0,45%. This result means growth of 142,61% compared with the
2004.
THE FIGURES FOR THE LAST BALANCE SHEET ARE RELEVANT:
SOURCE: THE MERCANTILE REGISTER
DATE: 30/August/2006
Results
Distribution
Annual
Report Year Source:2003
Figures
given in Euros
Distribution
Base
Profit and
Loss -21.217,00
Total of Amounts to be
distributed -21.217,00
Distribution
a
Prior years
losses -21.217,00
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2005) |
|
|
|
% of
PRODUCTION VALUE |
|
|
|
|
SALES |
95,36 |
99,12 |
-3,75 |
|
ADDED
VALUE |
22,54 |
18,98 |
3,56 |
|
BUSINESS
RESULT |
0,37 |
2,52 |
-2,15 |
|
% OF TOTAL
ASSETS |
|
|
|
|
OWN
FUNDS |
54,66 |
36,90 |
17,76 |
|
DEBT |
45,34 |
63,10 |
-17,76 |
Compared sector (CNAE): 515 -
Wholesale of non-agricultural intermediate products, waste and scrap
Number of companies: 3993
Size (Sales Figure):0 -
2.800.000,00 Euros
The turnover of the company is
3,75% below the mean for the sector.
The company’s added value was
22,54% s/ the production value, and 3,56% above the mean for the sector.
The company’s business result was
0,37% of the PV, 2,15% below the mean for the sector.
The company’s own resources are
54,66%, 17,76% above the mean for the sector.
The
company’s outside resources are 45,34%, 17,76% below the mean for the sector.
Commercial
Experience
GENERAL
INFORMATION
Founder:
Urich Schmid y Klaus Hellweg, pasando el 12-01-88 a ser Heramika,
S.L.
PURCHASES
Import
Percentage 50%
Imports:Italia y Alemania
SALES
Collection
(estimated)
Cash
sales percentage:40 %
Credit
sales percentage:60 %
Export
Percentage 2%
Exports:Alemania, Italia y Francia
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: 1 Company
/ Companies in Insolvency Proceedings
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date
of appointment |
|
ADMINISTRATOR |
SCHMID ROBERT GIORGIO
ALEXANDER |
31/01/2007 |
|
ADMINISTRATOR |
BENINCASA LOREDANA |
31/01/2007 |
Functional Managers
|
Position |
Surname and name |
|
|
EXPORTS MANAGER |
FALOMIR GOMEZ VIRGINIA |
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Financial Links
|
Shareholders |
||||
|
Company Name |
|
Percent. |
Source |
Information Date |
|
LOREDANA BENINCASA |
|
Indet. |
M.REGISTER |
31/12/2003 |
|
SCHMID ULRICH |
|
Indet. |
M.REGISTER |
31/12/2003 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
PROCEEDINGS |
DATE |
Notice
Num. |
MERCANTILE
REG. |
|
Resignations |
31/01/2007 |
056695 |
Castellón |
|
Appointments |
31/01/2007 |
056695 |
Castellón |
|
Change of statutes |
31/01/2007 |
056695 |
Castellón |
|
Registration of accounts2005 |
28/06/2006 |
151018 |
Castellón |
|
Registration of accounts2004 |
29/06/2005 |
148290 |
Castellón |
Brands, Signs and Commercial
Names
|
Brands Prevailing |
|||||
|
Name: |
NONFIX |
||||
|
Kind of
Brand: |
DENOMINATIVE |
File: |
M1798298 |
||
|
Request Date: |
12/01/1994 |
Bulletin
Date: |
16/07/1996 |
Current
situation: |
APPROVED
REGISTER |
|
Types: 1 |
|
||||
|
Name: |
NONFIX |
||||
|
Kind of
Brand: |
DENOMINATIVE |
File: |
M1798299 |
||
|
Request Date: |
12/01/1994 |
Bulletin
Date: |
16/07/1996 |
Current
situation: |
APPROVED
REGISTER |
|
Types: 2 |
|
||||
|
Total
Brands: 2 |
|||||
Bank Entities
|
Entity |
Branch |
Branch
Address |
Town |
|
|
CAJA
DE AHORROS Y PENSIONES DE BARCELONA |
|
|
CASTELLON |
|
|
BANCO
DE SABADELL, S.A. |
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|
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 30/August/2006.
Balance Sheet (Assets)
|
Figures given in Euros |
31/12/2003(12) |
31/12/2004(12) |
31/12/2005(12) |
|
|
|
A) DUE FROM SHAREHOLDERS FOR
UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
599.551,01 |
556.171,92 |
542.459,44 |
|
|
I. Establishment
expenses |
|
264.503,85 |
|
|
|
II. Intangible
assets |
288.348,34 |
231.487,11 |
273.943,62 |
|
|
III. Tangible
assets |
248.737,86 |
60.180,96 |
208.334,86 |
|
|
IV. Financial
assets |
62.464,81 |
|
60.180,96 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term
trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
16.776,10 |
10.445,07 |
6.406,71 |
|
|
D) CURRENT ASSETS |
1.333.652,84 |
1.192.657,59 |
1.063.629,50 |
|
|
I. Not paid in
shareholder capital |
|
|
|
|
|
II. Inventory |
321.784,13 |
277.095,42 |
249.270,13 |
|
|
III. Debtors |
861.420,88 |
764.655,30 |
733.127,10 |
|
|
IV. Short term
financial assets |
|
|
|
|
|
V. Short term
owners equity |
|
|
|
|
|
VI. Cash |
144.087,34 |
138.733,70 |
79.738,03 |
|
|
VII. Prepaid
expenses and accrued income |
6.360,49 |
12.173,17 |
1.494,24 |
|
|
ASSETS (A + B + C + D) |
1.949.979,95 |
1.759.274,58 |
1.612.495,65 |
Balance Sheet (Liabilities)
|
Figures given in Euros |
31/12/2003(12) |
31/12/2004(12) |
31/12/2005(12) |
|
|
|
A) SHAREHOLDERS EQUITY |
891.255,30 |
874.083,41 |
881.400,12 |
|
|
I. Capital |
60.101,21 |
60.101,21 |
60.101,21 |
|
|
II. Premium share
account |
|
|
|
|
|
III. Revaluation
reserve |
|
|
|
|
|
IV. Reserves |
920.797,16 |
920.797,16 |
920.797,16 |
|
|
Sundry
reserves |
920.797,16 |
920.797,16 |
920.797,16 |
|
|
V. Prior year
earnings |
-68.426,14 |
-89.643,07 |
-106.814,96 |
|
|
VI. Prior year
profit or losses |
-21.216,93 |
-17.171,89 |
7.316,71 |
|
|
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 |
135.321,41 |
97.762,28 |
71.330,93 |
|
|
E) SHORT TERM LIABILITIES |
923.403,24 |
787.428,89 |
659.764,60 |
|
|
F) SHORT TERM PROVISIONS FOR
LIABILITIES AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E
+ F) |
1.949.979,95 |
1.759.274,58 |
1.612.495,65 |
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.15) |
2.588.997,12 |
2.322.784,30 |
1.989.498,31 |
|
|
A.1
Operating Expenses |
1.824.037,22 |
1.601.229,43 |
1.360.148,65 |
|
|
A.3.
Labor cost |
495.563,50 |
472.656,49 |
401.821,91 |
|
|
Wages |
392.551,37 |
382.225,74 |
321.839,30 |
|
|
Social
security expenses |
103.012,13 |
90.430,75 |
79.982,61 |
|
|
A.3.
Assets depreciation |
49.255,76 |
41.396,39 |
34.919,96 |
|
|
A.4. Variance
in provision for current assets |
13.117,43 |
-260,10 |
-4.779,23 |
|
|
A.5.
Other operating costs |
183.750,45 |
193.028,86 |
183.508,59 |
|
|
A.I. OPERATING
RESULT (B.1-A.1-A.2-A.3-A.4-A.5) |
|
|
17.127,60 |
|
|
A.6. Financial
expenses |
20.188,44 |
12.802,23 |
10.181,57 |
|
|
Other
companies debts |
20.188,44 |
12.802,23 |
10.181,57 |
|
|
A.7.
Variation in financial investments provision |
|
|
|
|
|
A.8.
Exchange losses |
105,49 |
|
0,09 |
|
|
A.II. POSITIVE
FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8) |
|
|
|
|
|
A.III. PROFIT FROM
ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
|
|
8.282,29 |
|
|
A.9.
Variation in provision in fixed assets |
|
|
|
|
|
A.10.
Losses in fixed assets |
|
|
135,77 |
|
|
A.11.
Losses from shares and bonds |
3.599,60 |
|
|
|
|
A.12.
Extraordinary charges |
|
|
|
|
|
A.13.
Prior year’s expenses and losses |
|
4.214,44 |
|
|
|
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) |
63.828,43 |
15.650,30 |
2.595,42 |
|
|
A.V. EARNINGS /
LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
|
|
10.877,71 |
|
|
A.14.
Corporate Taxes |
-620,77 |
|
3.561,00 |
|
|
A.15.
Other taxes |
|
-2.283,44 |
|
|
|
A.VI. YEAR END
RESULT (PROFIT) (A.V-A.14-A.15) |
|
|
7.316,71 |
|
|
B) INCOMES (B.1 a B.8) |
2.567.780,19 |
2.305.612,41 |
1.996.815,02 |
|
|
B.1.
Operating income |
2.497.913,56 |
2.283.337,56 |
1.992.747,48 |
|
|
Turnover |
2.424.852,28 |
2.199.532,81 |
1.900.325,02 |
|
|
Other
operating income |
73.061,28 |
83.804,75 |
92.422,46 |
|
|
B.I. OPERATING
LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
67.810,80 |
24.713,51 |
|
|
|
B.2. Financial
Income |
2.438,60 |
2.410,11 |
1.336,35 |
|
|
Other |
2.438,60 |
2.410,11 |
1.336,35 |
|
|
B.3.
Gains on exchange |
|
|
|
|
|
B.II. FINANCIAL
LOSSES (A.6+A.7+A.8-B.2-B.3) |
17.855,33 |
10.392,12 |
8.845,31 |
|
|
B.III. LOSSES FROM
ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
85.666,13 |
35.105,63 |
|
|
|
B.4.
Gains from disposal of fixed assets |
63.331,90 |
27,13 |
|
|
|
B.5.
Gains from dealing in own shares |
|
|
|
|
|
B.6.
Paid in surplus |
|
|
|
|
|
B.7.
Extraordinary income |
4.096,13 |
19.837,61 |
2.731,19 |
|
|
B.8.
Prior year’s income and profits |
|
|
|
|
|
B.IV.
EXTRAORDINARY LOSSES (A.9+A.10+A.11+A.12+A.13 - B.4-B.5-B.6-B.7-B.8) |
|
|
|
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
21.837,70 |
19.455,33 |
|
|
|
B.VI. NET LOSS
(B.V+A.14+A.15) |
21.216,93 |
17.171,89 |
|
Ratios
|
Figures given in Euros |
2003(12) |
2004(12) |
2005(12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase
of the Sales Figures |
-2,45 |
-9,29 |
-13,60 |
|
|
Assets
Turnover |
1,24 |
1,25 |
1,18 |
|
|
Productivity |
0,99 |
1,03 |
1,12 |
|
|
Increase
of the Added Value |
-3,90 |
-0,21 |
-8,18 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic
Profitability |
-1,09 |
-0,98 |
0,45 |
|
|
Financial
Profitability |
-2,38 |
-1,96 |
0,83 |
|
|
Financial
Expenses |
0,83 |
0,58 |
0,54 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’
Credit |
127 |
125 |
138 |
|
|
Suppliers’
Credit |
|
|
|
|
|
Working
Capital |
60 |
66 |
76 |
|
|
Working
Capital Requirement |
39 |
43 |
61 |
|
|
Treasury |
21 |
22 |
15 |
|
|
BALANCE |
|
|
|
|
|
Working
Capital |
410.249,60 |
405.228,70 |
403.864,90 |
|
|
Working
Capital Requirement |
266.162,26 |
266.495,00 |
324.126,87 |
|
|
Treasury |
144.087,34 |
138.733,70 |
79.738,03 |
|
|
Balance
Ratio |
1,67 |
1,72 |
1,74 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing
Ratio |
54,29 |
50,32 |
45,34 |
|
|
Own /
Permanent Funds |
86,82 |
89,94 |
92,51 |
|
|
Payback
Capacity |
0,43 |
0,40 |
0,38 |
|
|
LIQUIDITY |
|
|
|
|
|
General
Liquidity |
1,44 |
1,52 |
1,61 |
|
|
Immediate
Liquidity |
0,16 |
0,18 |
0,12 |
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages) |
|||
|
Assets |
Company |
Sector |
Difference |
|
|
2005 |
|
|
|
A) DUE FROM SHAREHOLDERS FOR
UNCALLED CAPITAL |
0,00 |
0,06 |
-0,06 |
|
B) FIXED ASSETS |
33,64 |
30,00 |
3,64 |
|
C) DEFERRED EXPENSES |
0,40 |
0,41 |
0,00 |
|
D) CURRENT ASSETS |
65,96 |
69,53 |
-3,57 |
|
ASSETS (A + B + C + D) |
100,00 |
100,00 |
0,00 |
|
|
|||
|
Liabilities |
Company |
Sector |
Difference |
|
|
2005 |
|
|
|
A) SHAREHOLDERS EQUITY |
54,66 |
36,90 |
17,76 |
|
B) DEFERRED INCOME |
0,00 |
0,31 |
-0,31 |
|
C) PROVISIONS FOR LIABILITIES
AND EXPENSES |
0,00 |
0,06 |
-0,06 |
|
D) LONG TERM LIABILITIES |
4,42 |
12,75 |
-8,33 |
|
E) SHORT TERM LIABILITIES |
40,92 |
49,93 |
-9,02 |
|
F) SHORT TERM PROVISIONS FOR
LIABILITIES AND EXPENSES |
0,00 |
0,05 |
-0,05 |
|
LIABILITIES (A + B + C + D + E
+ F) |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2005 |
|
|
|
Turnover |
95,36 |
99,12 |
-3,75 |
|
Other operating income |
4,64 |
0,88 |
3,75 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating costs |
68,25 |
70,92 |
-2,67 |
|
Other operating costs |
9,21 |
10,10 |
-0,89 |
|
Added value |
22,54 |
18,98 |
3,56 |
|
Labor cost |
20,16 |
12,61 |
7,55 |
|
Gross Economic Result |
2,37 |
6,37 |
-3,99 |
|
Assets depreciation |
1,75 |
1,94 |
-0,19 |
|
Variance in provision for current
assets |
-0,24 |
0,23 |
-0,47 |
|
Net Economic Result |
0,86 |
4,20 |
-3,34 |
|
Financial Income |
0,07 |
0,27 |
-0,20 |
|
Financial Charges |
0,51 |
1,14 |
-0,63 |
|
Variation in financial
investments provision |
0,00 |
0,00 |
0,00 |
|
Ordinary Activities Result |
0,42 |
3,33 |
-2,91 |
|
Extraordinary income |
0,14 |
0,37 |
-0,23 |
|
Extraordinary charges |
0,01 |
0,14 |
-0,13 |
|
Variation in provision in
fixed assets |
0,00 |
0,00 |
0,00 |
|
Results before Taxes |
0,55 |
3,56 |
-3,01 |
|
Society taxes |
0,18 |
1,04 |
-0,86 |
|
Net Result |
0,37 |
2,52 |
-2,15 |
|
Assets depreciation |
1,75 |
1,94 |
-0,19 |
|
Change of Provisions |
-0,24 |
0,23 |
-0,47 |
|
Net Self-Financing |
1,88 |
4,69 |
-2,81 |
Ratios
|
(Figures given in Euros) |
Company |
Ptile25 |
Median |
Ptile75 |
|
|
2005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
-13,60 |
-5,88 |
3,79 |
13,98 |
|
Assets Turnover |
1,18 |
1,15 |
1,61 |
2,18 |
|
Fixed Assets Turnover |
3,46 |
3,53 |
7,71 |
18,95 |
|
Increase of the Added Value |
-8,18 |
-6,40 |
3,87 |
15,46 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,12 |
1,24 |
1,45 |
1,78 |
|
Change of Personnel Costs |
-14,99 |
0,00 |
7,01 |
17,89 |
|
Average Personnel Costs |
26.788,13 |
15.516,10 |
19.634,65 |
25.980,58 |
|
Value Added by Employees |
29.939,35 |
22.091,79 |
29.840,75 |
41.784,07 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
37.457,44 |
13.464,62 |
31.246,29 |
66.577,94 |
|
Operating Cash Flow |
47.268,33 |
19.674,33 |
44.982,88 |
89.997,28 |
|
Change in Cash Flow |
56,31 |
-23,95 |
-0,42 |
21,09 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
0,45 |
1,07 |
2,56 |
5,57 |
|
Financial Profitability |
0,83 |
4,36 |
9,83 |
18,04 |
|
Financial Expenses |
0,54 |
0,24 |
0,75 |
1,59 |
|
Gross Economic Profitability |
2,93 |
5,38 |
8,69 |
13,47 |
|
Gross Financial Profitability |
5,36 |
16,97 |
31,71 |
55,37 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit |
138 |
42,69 |
74,10 |
112,17 |
|
Suppliers’ Credit |
|
0,00 |
0,00 |
0,00 |
|
Working Capital |
76 |
6,90 |
35,76 |
82,30 |
|
Working Capital Requirement |
61 |
-16,74 |
12,78 |
47,85 |
|
Treasury |
15 |
5,35 |
17,04 |
43,20 |
|
Operating Current Assets |
201 |
117,91 |
161,95 |
222,75 |
|
BALANCE |
|
|
|
|
|
Working Capital |
403.864,90 |
9.668,64 |
73.548,89 |
198.215,76 |
|
Working Capital Requirement |
324.126,87 |
-29.567,40 |
21.892,86 |
110.152,78 |
|
Treasury |
79.738,03 |
9.469,31 |
36.568,14 |
101.519,67 |
|
Balance Ratio |
1,74 |
1,11 |
1,83 |
3,97 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
45,34 |
51,40 |
70,31 |
84,03 |
|
Own / Permanent Funds |
92,51 |
56,88 |
86,07 |
100,00 |
|
Payback Capacity |
0,38 |
0,25 |
0,38 |
0,57 |
|
Long term Indebtedness |
4,42 |
0,00 |
4,99 |
17,40 |
|
Gearing |
182,95 |
205,75 |
336,83 |
626,00 |
|
Financing Basic Ratio |
1,00 |
0,99 |
1,00 |
1,00 |
|
Assets Guarantee |
2,20 |
1,14 |
1,38 |
1,90 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,61 |
1,05 |
1,30 |
1,84 |
|
Immediate Liquidity |
0,12 |
0,04 |
0,15 |
0,41 |
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%)