MIRA
INFORM REPORT
|
Report Date : |
14th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
TEMPE SA |
|
|
|
|
Registered Office : |
Avenida
Deputacion (Lgo Industrial Sabon)(Pg In) 15142 Arteixo (La
Coruna) |
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|
|
|
Country : |
Spain |
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|
Financials (as on) : |
31.01.2006 |
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|
Date of Incorporation : |
12.12.1989 |
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|
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|
Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of footwear, clothing, furrier, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
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|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Identification and
Characteristics
Tax Number A15234065
NAME TEMPE
SA
TRADE NAME TEMPE,
S.A.
BUSINESS ADDRESS AVENIDA
DEPUTACION (LGO INDUSTRIAL SABON)(PG IN)
Postcode 15142
ARTEIXO (LA CORUNA)
FORMER ADDRESS POLIGONO
INDUSTRIAL SABON-PAR 79 B
Postcode 15142
ARTEIXO (LA CORUNA)
TELEPHONE 981185400
FAX 966657508
LEGAL FORM JOINT
STOCK COMPANY
DATE FOUNDED 12/12/1989
CAPITAL 60.101,00 Euros
PAID-UP CAPITAL 60.101,21 Euros
NUMBER OF EMPLOYEES 461
ACTIVITY 1613400 - Wholesale
of footwear, furrier , etc.
CNAE 5142 - Wholesale
of clothing and footwear
EXPORT COMPANY YES
* Characteristics
of the main address
According
to our investigations dated 08/03/2007 these premises are
rented used as office, factory located in a
main .
Synthesis
FINANCIAL
SITUATION (Year ending: 31/01/2006)
PROFITABILITY Average
TREASURY Excellent
BALANCE SHEET Excellent
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 6.000.000,00 Max.
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005
(12) |
Balance
sheet 2.006
(12) |
%
Sales |
|
|
SALES |
235.293.298,00 |
287.778.741,00 |
326.474.963,00 |
|
|
|
ADDED VALUE |
31.938.456,00 |
42.202.729,00 |
63.883.850,00 |
19,57 |
|
|
BUSINESS RESULT |
10.455.983,00 |
16.724.005,00 |
31.140.019,00 |
9,54 |
|
|
OWN FUNDS |
36.065.853,00 |
42.607.466,00 |
63.307.883,00 |
|
|
|
DEBT |
72.684.751,00 |
92.146.136,00 |
94.847.078,00 |
|
|
|
TOTAL ASSET |
108.844.587,00 |
134.883.712,00 |
158.745.245,00 |
|
|
|
The sales of
326.474.963,00 Euros show a change of 13,45%
compared with 2.005 . Between 2.004 and
2.005 , this change was 22,31% . |
|||||
|
Added value grew by
51,37% compared with the previous year. Shareholders equity are
63.307.883,00 Euros for an indebtedness of
94.847.078,00 Euros . |
|||||
|
The result 31.140.019,00
Euros means financial profitability of 49,19% and
economic profitability of 19,62% . This result means growth of
86,20% compared with the 2.005 . |
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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: 13/02/2007 |
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Results Distribution |
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Annual Report Year
Source: 2.004 |
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Figures given in Euros |
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Distribution Base |
|||||
|
Profit and Loss |
16.724.005 |
||||
|
Total of Amounts
to be distributed |
16.724.005 |
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|
Distribution a |
|||||
|
Voluntary Reserve |
10.034.403 |
||||
|
Dividends |
6.689.602 |
||||
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|
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Auditors’ opinion: |
|||||
|
FAVOURABLE (2.006) |
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|
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Auditors: |
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|
KPMG AUDITORES S.L. |
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Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.006) |
|
|
|
% of
PRODUCTION VALUE |
|
|
|
|
SALES |
99,94 |
97,44 |
2,50 |
|
ADDED
VALUE |
19,56 |
15,25 |
4,31 |
|
BUSINESS
RESULT |
9,53 |
4,37 |
5,16 |
|
% OF TOTAL
ASSETS |
|
|
|
|
OWN
FUNDS |
39,88 |
38,01 |
1,87 |
|
DEBT |
59,75 |
61,99 |
-2,24 |
Compared sector (CNAE): 514 -
Comercio al por mayor de productos de consumo, distinto de los alimenticios
Number of companies: 125
Size (Sales Figure): > 40.000.000,00
Euros
The turnover of the company is
2,50% above the mean for the sector.
The company’s added value was
19,56% s/ the production value, and 4,31% above the mean for the
sector.
The company’s business result
was 9,53% of the PV, 5,16% above the mean for the sector.
The company’s own resources are
39,88% , 1,87% above the mean for the sector.
The company’s outside resources
are 59,75% , 2,24% below 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: No significant elemento
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date
of appointment |
|
CHAIRMAN |
GARCIA TORRES VICENTE |
21/09/2004 |
|
VICE-PRESIDENT |
ISLA ALVAREZ DE TEJERA PABLO |
23/11/2005 |
|
BOARD MEMBER |
PERALTA BELENGUER ISABEL |
21/09/2004 |
|
BOARD MEMBER |
ABRIL ABADIN ANTONIO |
17/12/2004 |
|
SECRETARY |
VICENTE AMOROS JUAN JESUS |
31/01/2003 |
|
AUDITOR |
KPMG AUDITORES SL |
08/11/2006 |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
|
|
INDUSTRIA DE DISENO TEXTIL SA |
A15075062 |
50,00% |
OWN SOURCES |
|
|
PROMOCIONES AZARBE SA |
A03442662 |
50,00% |
OWN SOURCES |
|
|
Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
|
|
TEMPE LOGISTICA S.A. |
A15795396 |
100,00% |
M.REGISTER |
|
|
TEMPE MEXICO SA |
MÉXICO |
99,00% |
M.REGISTER |
|
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice
Num. |
Mercantile
Reg. |
|
Registration of accounts
(2005) |
08/11/2006 |
856409 |
LA
CORUNA |
|
Re-elections |
08/11/2006 |
532816 |
LA
CORUNA |
|
Appointments |
08/11/2006 |
532609 |
LA
CORUNA |
|
Appointments |
29/08/2006 |
428324 |
LA
CORUNA |
|
Resignations |
23/08/2006 |
419705 |
LA
CORUNA |
Brands, Signs and Commercial
Names
|
Prevailing
Signs |
|||||
|
Name: |
TEMPE, S.A. |
||||
|
Kind of
Brand: |
DENOMINATIVE |
File: |
R202435 |
||
|
Request Date: |
28/02/1990 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
RENEWED
REGISTER |
|
|
|
||||
|
Prevailing
Commercial Names |
|||||
|
Name: |
TEMPE, S.A. |
||||
|
Kind of
Brand: |
DENOMINATIVE |
File: |
N154308 |
||
|
Request Date: |
28/02/1990 |
Bulletin
Date: |
Bulletin
Date: |
Current
situation: |
RENEWED
REGISTER |
|
|
|
||||
Total Marcas: 2
Branches
|
Road |
Postal Code |
Town |
Province |
|
NACIONAL 340 |
03320 |
TORRELLANO |
ALICANTE |
|
PG ELCHE PARQUE INDUSTRIAL. CL
SEVERO OC |
03320 |
ELCHE
|
ALICANTE |
Commercial Experience
SALES
Collection (estimated)
Credit sales percentage 100 %
Bank Entities
|
Entity |
|
|
Town |
|
|
BANCO SANTANDER CENTRAL
HISPANO, S.A. |
|
|
ELCHE |
|
|
BANCO BILBAO VIZCAYA
ARGENTARIA, S.A. |
|
|
|
|
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 13/02/2007
Balance Sheet (ASSETS)
|
(Figures given in Euros)
|
31/01/2004 (12)
|
31/01/2005 (12)
|
31/01/2006 (12)
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR
UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
21.802.571,00 |
20.865.199,00 |
21.784.765,00 |
|
|
I. Establishment expenses |
64.170,00 |
76.185,00 |
56.674,00 |
|
|
II. Intangible assets |
9.859.606,00 |
9.130.755,00 |
5.575.648,00 |
|
|
Concessions, patents,licences
, trademarks |
145.591,00 |
154.462,00 |
174.826,00 |
|
|
Software |
714.544,00 |
729.845,00 |
959.964,00 |
|
|
Leasing |
11.495.576,00 |
11.495.576,00 |
8.154.249,00 |
|
|
Amortization |
-2.496.105,00 |
-3.249.128,00 |
-3.713.391,00 |
|
|
III. Tangible assets |
11.772.894,00 |
11.554.839,00 |
14.566.041,00 |
|
|
Property, plant and equipment |
8.369.658,00 |
8.371.129,00 |
11.765.820,00 |
|
|
Machinery, equipment and other |
3.348.312,00 |
3.459.542,00 |
3.574.746,00 |
|
|
Other property plant and
equipement |
770.831,00 |
873.638,00 |
919.558,00 |
|
|
Other assets |
2.055.484,00 |
2.490.789,00 |
2.874.492,00 |
|
|
Depreciation |
-2.771.391,00 |
-3.640.259,00 |
-4.568.575,00 |
|
|
IV. Financial assets |
105.901,00 |
103.420,00 |
1.586.402,00 |
|
|
Shares in affiliated companies |
104.214,00 |
104.214,00 |
1.588.009,00 |
|
|
Long term deposits and
guarantees |
3.590,00 |
1.612,00 |
1.612,00 |
|
|
Provisions |
-1.903,00 |
-2.406,00 |
-3.219,00 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade
liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
514.700,00 |
357.126,00 |
38.799,00 |
|
|
D) CURRENT ASSETS |
86.527.316,00 |
113.661.387,00 |
136.921.681,00 |
|
|
I. Not paid in shareholder
capital |
|
|
|
|
|
II. Inventory |
37.129.516,00 |
41.593.560,00 |
40.521.733,00 |
|
|
Goods available for sale |
33.429.350,00 |
40.255.388,00 |
40.055.943,00 |
|
|
Raw material inventory |
6.494.567,00 |
1.338.172,00 |
465.790,00 |
|
|
Cash advance |
115.525,00 |
|
|
|
|
Provisions |
-2.909.926,00 |
|
|
|
|
III. Debtors |
13.845.847,00 |
14.320.297,00 |
86.051.911,00 |
|
|
Clients |
6.394.817,00 |
6.076.035,00 |
7.482.216,00 |
|
|
Amounts owned by affiliated
companies |
6.125.134,00 |
8.907.114,00 |
78.632.930,00 |
|
|
Other debts |
|
143,00 |
103,00 |
|
|
Labor costs |
12.017,00 |
26.931,00 |
25.737,00 |
|
|
Taxes refunds |
1.596.036,00 |
550.678,00 |
133.223,00 |
|
|
Provisions |
-282.157,00 |
-1.240.604,00 |
-222.298,00 |
|
|
IV. Short term financial
assets |
28.152.242,00 |
49.192.012,00 |
200,00 |
|
|
Receivables in affiliated
companies |
28.132.811,00 |
49.172.581,00 |
|
|
|
Short Term Deposit and
guarantees |
19.431,00 |
19.431,00 |
200,00 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
7.327.934,00 |
8.499.914,00 |
10.282.760,00 |
|
|
VII. Prepaid expenses and
accrued income |
71.777,00 |
55.604,00 |
65.077,00 |
|
|
ASSETS (A + B + C + D) |
108.844.587,00 |
134.883.712,00 |
158.745.245,00 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros)
|
31/01/2004 (12)
|
31/01/2005 (12)
|
31/01/2006 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
36.065.853,00 |
42.607.466,00 |
63.307.883,00 |
|
|
I. Capital |
60.101,00 |
60.101,00 |
60.101,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
25.549.769,00 |
31.823.360,00 |
41.857.763,00 |
|
|
Retained earnings |
12.020,00 |
12.020,00 |
12.020,00 |
|
|
Other funds |
25.537.749,00 |
31.811.340,00 |
41.845.743,00 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or
losses |
10.455.983,00 |
16.724.005,00 |
31.140.019,00 |
|
|
VII. Dividend paid during the
year |
|
-6.000.000,00 |
-9.750.000,00 |
|
|
VIII. Own shares for change in
capital |
|
|
|
|
|
B) DEFERRED INCOME |
43.762,00 |
79.889,00 |
590.284,00 |
|
|
Capital grants |
8.304,00 |
4.985,00 |
1.665,00 |
|
|
Rate difference |
35.458,00 |
74.904,00 |
588.619,00 |
|
|
C) PROVISIONS FOR LIABILITIES
AND EXPENSES |
50.221,00 |
50.221,00 |
|
|
|
Other provisions |
50.221,00 |
|
|
|
|
Reversion fund |
|
50.221,00 |
|
|
|
D) LONG TERM LIABILITIES |
6.808.775,00 |
5.276.369,00 |
1.557.813,00 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
5.977.906,00 |
4.216.990,00 |
354.048,00 |
|
|
Long term bank loans |
5.977.906,00 |
4.216.990,00 |
354.048,00 |
|
|
III. Debts with associed and
affiliated companies |
|
|
|
|
|
IV. Other creditors |
830.869,00 |
1.059.379,00 |
1.203.765,00 |
|
|
Other debts |
830.869,00 |
1.059.379,00 |
1.203.765,00 |
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with
creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
65.875.976,00 |
86.869.767,00 |
93.289.265,00 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
1.749.216,00 |
1.770.789,00 |
1.359.093,00 |
|
|
Loans and other debts |
1.749.216,00 |
1.770.789,00 |
1.359.093,00 |
|
|
III. Short term debts with
associated and affiliated companies |
4.644.264,00 |
5.210.611,00 |
5.092.361,00 |
|
|
With affiliated companies |
4.644.264,00 |
5.210.611,00 |
5.092.361,00 |
|
|
IV. Trade creditors |
52.807.338,00 |
69.872.062,00 |
74.121.066,00 |
|
|
Expenses |
52.807.338,00 |
69.872.062,00 |
74.121.066,00 |
|
|
V. Other non trade payables |
6.675.158,00 |
10.016.305,00 |
12.716.745,00 |
|
|
Government |
5.683.413,00 |
8.539.422,00 |
11.123.905,00 |
|
|
Other debts |
71.780,00 |
260.865,00 |
275.532,00 |
|
|
Accounts receivable |
919.965,00 |
1.216.018,00 |
1.317.308,00 |
|
|
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) |
108.844.587,00 |
134.883.712,00 |
158.745.245,00 |
Profit and Loss Account
|
(Figures given in Euros)
|
31/01/2004 (12)
|
31/01/2005 (12)
|
31/01/2006 (12)
|
|
|
|
A) EXPENSES (A.1 a A.16) |
|
|
|
|
|
A.1. Change in stocks of
finished goods and work in progress |
|
|
|
|
|
A.2. Supplies |
189.100.892,00 |
229.796.448,00 |
242.501.206,00 |
|
|
Material consumed |
159.731.848,00 |
204.529.387,00 |
228.110.538,00 |
|
|
Raw materials consumed |
29.369.044,00 |
25.267.061,00 |
13.196.747,00 |
|
|
Other expenses |
|
|
1.193.921,00 |
|
|
A.3. Labor cost |
12.537.591,00 |
14.647.471,00 |
16.207.405,00 |
|
|
Wages |
9.754.316,00 |
11.544.287,00 |
12.758.133,00 |
|
|
Social security expenses |
2.783.275,00 |
3.103.184,00 |
3.449.272,00 |
|
|
A.4. Assets depreciation |
1.595.532,00 |
1.688.930,00 |
1.750.810,00 |
|
|
A.5 Variance in provision for
current assets |
1.834.482,00 |
60.869,00 |
165.535,00 |
|
|
Variance in provision for
inventory |
1.552.124,00 |
|
|
|
|
Variance in provision for bad
debts |
282.358,00 |
60.869,00 |
165.535,00 |
|
|
A.6. Other operating costs |
14.266.257,00 |
15.945.936,00 |
20.284.117,00 |
|
|
External costs |
14.179.531,00 |
15.836.629,00 |
20.043.015,00 |
|
|
Taxes |
86.726,00 |
106.873,00 |
232.706,00 |
|
|
Other day to day expenses |
|
2.434,00 |
8.396,00 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
15.970.851,00 |
25.805.459,00 |
45.760.100,00 |
|
|
A.7. Financial expenses |
244.584,00 |
212.912,00 |
118.248,00 |
|
|
Debts with related companies |
|
729,00 |
|
|
|
Debts with associated
companies |
70,00 |
|
9,00 |
|
|
Other companies debts |
244.514,00 |
212.183,00 |
118.239,00 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
1.245.078,00 |
1.862.545,00 |
1.394.576,00 |
|
|
A.II. POSITIVE FINANCIAL
RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
429.838,00 |
|
1.790.198,00 |
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
16.400.689,00 |
25.721.738,00 |
47.550.298,00 |
|
|
A.10. Variation in provision
in fixed assets |
115,00 |
503,00 |
813,00 |
|
|
A.11. Losses in fixed assets |
69.374,00 |
|
|
|
|
A.12. Losses from shares and
bonds |
|
|
|
|
|
A.13. Extraordinary charges |
240.210,00 |
|
|
|
|
A.14. Prior year’s expenses
and losses |
133.861,00 |
|
|
|
|
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) |
|
3.759,00 |
38.663,00 |
|
|
A.V. EARNINGS / LOSS BEFORE
TAXES (A.III+A.IV-B.III-B.IV) |
16.100.761,00 |
25.725.497,00 |
47.588.961,00 |
|
|
A.15. Corporate Taxes |
5.644.778,00 |
9.001.492,00 |
16.448.942,00 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
10.455.983,00 |
16.724.005,00 |
31.140.019,00 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
235.293.298,00 |
287.778.741,00 |
326.474.963,00 |
|
|
Sales |
270.563.360,00 |
325.759.047,00 |
360.842.737,00 |
|
|
Services provided |
|
|
988.710,00 |
|
|
Discounts |
-35.270.062,00 |
-37.980.306,00 |
-35.356.484,00 |
|
|
B.2. Increase in inventory of
finished goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
12.307,00 |
166.372,00 |
194.210,00 |
|
|
Other incomes |
12.307,00 |
149.194,00 |
163.029,00 |
|
|
Grants |
|
17.178,00 |
31.181,00 |
|
|
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 |
1.144.903,00 |
855.559,00 |
1.512.455,00 |
|
|
From affiliated companies |
282.946,00 |
434.429,00 |
915.832,00 |
|
|
From other companies |
861.957,00 |
421.130,00 |
596.623,00 |
|
|
B.8. Gains on exchange |
774.597,00 |
1.136.177,00 |
1.790.567,00 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
|
83.721,00 |
|
|
|
B.III. LOSSES FROM ORDINARY
ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of
fixed assets |
4.671,00 |
942,00 |
5.366,00 |
|
|
B.10. Gains from dealing in
own shares |
|
|
|
|
|
B.11. Paid in surplus |
3.320,00 |
3.320,00 |
3.320,00 |
|
|
B.12. Extraordinary income |
90.428,00 |
|
30.790,00 |
|
|
B.13. Prior year’s income and
profits |
45.213,00 |
|
|
|
|
B.IV. EXTRAORDINARY LOSSES
(A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
299.928,00 |
|
|
|
|
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)
|
2.004 (12)
|
2.005 (12)
|
2.006 (12)
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
16,34 |
22,31 |
13,45 |
|
|
Assets Turnover |
2,16 |
2,13 |
2,06 |
|
|
Productivity |
2,55 |
2,88 |
3,94 |
|
|
Increase of the Added Value |
22,97 |
32,14 |
51,37 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
9,61 |
12,40 |
19,62 |
|
|
Financial Profitability |
28,99 |
39,25 |
49,19 |
|
|
Financial Expenses |
0,10 |
0,07 |
0,04 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of
sales) |
21,00 |
18,00 |
95,00 |
|
|
Suppliers’ Credit (In days of
sales) |
101,00 |
109,00 |
110,00 |
|
|
Working Capital (In days of
sales) |
32,00 |
34,00 |
48,00 |
|
|
Working Capital Requirement
(In days of sales) |
0,00 |
0,00 |
38,00 |
|
|
Treasury (In days of sales) |
52,00 |
70,00 |
10,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
20.651.340,00 |
26.791.620,00 |
43.632.416,00 |
|
|
Working Capital Requirement |
-13.079.620,00 |
-29.129.517,00 |
34.708.549,00 |
|
|
Treasury |
33.730.960,00 |
55.921.137,00 |
8.923.867,00 |
|
|
Balance Ratio |
1,93 |
2,26 |
3,00 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
66,78 |
68,32 |
59,75 |
|
|
Own / Permanent Funds |
83,94 |
88,74 |
96,72 |
|
|
Payback Capacity |
0,30 |
0,32 |
0,29 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,31 |
1,31 |
1,47 |
|
|
Immediate Liquidity |
0,54 |
0,66 |
0,11 |
Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages)
|
Company |
Sector |
Company |
|
|
2.006 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,25 |
-0,25 |
|
FIXED ASSETS |
13,72 |
32,00 |
-18,28 |
|
ACCRUED
EXPENSES |
0,02 |
0,22 |
-0,20 |
|
CURRENT
ASSETS |
86,25 |
67,54 |
18,71 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS
EQUITY |
39,88 |
38,01 |
1,87 |
|
ACCRUED
INCOME |
0,37 |
0,34 |
0,03 |
|
RISK AND
EXPENDITURE COVER |
0,00 |
2,61 |
-2,61 |
|
LONG-TERM
CREDITORS |
0,98 |
7,71 |
-6,73 |
|
SHORT-TERM
CREDITORS |
58,77 |
51,27 |
7,50 |
|
SHORT-TERM
RISK AND EXPENDITURE COVER |
0,00 |
0,06 |
-0,06 |
|
TOTAL
LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages)
|
Company |
Sector |
Company |
|
|
2.006 |
|
|
|
Net turnover |
99,94 |
97,44 |
2,50 |
|
Other
operating income |
0,06 |
2,56 |
-2,50 |
|
Production
Value |
100,00 |
100,00 |
0,00 |
|
Operating
expenses |
74,23 |
71,63 |
2,60 |
|
Other
operation expenses |
6,21 |
13,12 |
-6,91 |
|
Added value |
19,56 |
15,25 |
4,30 |
|
Labor cost |
4,96 |
7,64 |
-2,68 |
|
Gross
Economic Result |
14,59 |
7,62 |
6,98 |
|
Assets
depreciation |
0,54 |
1,15 |
-0,61 |
|
Variation in
provision for current assets |
0,05 |
0,21 |
-0,15 |
|
Net Economic
Result |
14,01 |
6,26 |
7,75 |
|
Financial
income |
1,01 |
1,40 |
-0,39 |
|
Financial
expenses |
0,46 |
1,08 |
-0,61 |
|
Variation in
financial investment provision |
0,00 |
-0,01 |
0,01 |
|
Ordinary
Activities Result |
14,56 |
6,60 |
7,95 |
|
Extraordinary
income |
0,01 |
0,38 |
-0,37 |
|
Extraordinary
expenses |
0,00 |
0,29 |
-0,29 |
|
Variation in
provision in fixed assets |
0,00 |
0,59 |
-0,59 |
|
Results
before Taxes |
14,57 |
6,10 |
8,46 |
|
Corporaye
taxes |
5,04 |
1,73 |
3,31 |
|
Net Result |
9,53 |
4,37 |
5,16 |
|
Assets
depreciation |
0,54 |
1,15 |
-0,61 |
|
Provisions
fund variation |
0,05 |
0,78 |
-0,73 |
|
Net Self-Financing |
10,12 |
6,31 |
3,81 |
Ratios
|
(Figures given in ) |
Company |
Ptile25
|
Medium
|
Ptile75
|
|
|
2.006 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of
the Sales Figures |
13,45 |
0,60 |
6,06 |
12,60 |
|
Assets
Turnover |
2,06 |
1,44 |
2,11 |
3,43 |
|
Fixed Assets
Turnover |
14,96 |
7,19 |
15,56 |
27,33 |
|
Increase of
the Added Value |
51,37 |
-1,85 |
5,53 |
16,32 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
3,94 |
1,34 |
1,79 |
2,28 |
|
Change of
Personnel Costs |
10,65 |
1,33 |
7,95 |
15,62 |
|
Average
Personnel Costs |
35.157,06 |
26.342,49 |
34.691,04 |
56.858,22 |
|
Value Added
by Employees |
138.576,68 |
42.323,13 |
66.198,45 |
115.801,26 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
33.057.177,00 |
1.130.620,27 |
3.436.587,00 |
7.068.736,01 |
|
Operating
Cash Flow |
47.676.445,00 |
1.549.909,82 |
4.578.425,74 |
9.512.000,00 |
|
Change in
Cash Flow |
78,94 |
-24,30 |
0,14 |
26,47 |
|
PROFITABILITY |
|
|
|
|
|
Economic
Profitability |
19,62 |
2,15 |
5,45 |
11,04 |
|
Financial
Profitability |
49,19 |
8,65 |
17,01 |
29,51 |
|
Financial
Expenses |
0,04 |
0,17 |
0,47 |
1,04 |
|
Gross
Economic Profitability |
30,03 |
4,63 |
9,98 |
18,39 |
|
Gross
Financial Profitability |
75,31 |
15,66 |
30,73 |
56,50 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’
Credit (In days of sales) |
94,00 |
44,68 |
79,99 |
119,42 |
|
Suppliers’ Credit
(In days of sales) |
110,00 |
17,69 |
42,30 |
94,17 |
|
Working
Capital (In days of sales) |
48,00 |
7,10 |
26,89 |
61,79 |
|
Working
Capital Requirement (In days of sales) |
38,00 |
5,61 |
35,51 |
59,12 |
|
Treasury (In
days of sales) |
9,00 |
-19,83 |
-0,06 |
19,76 |
|
Operating
Current Assets |
150,00 |
86,18 |
125,20 |
191,72 |
|
BALANCE |
|
|
|
|
|
Working
Capital |
43.632.416,00 |
2.101.766,78 |
6.886.843,93 |
16.459.449,00 |
|
Working Capital
Requirement |
34.708.549,00 |
1.111.821,62 |
6.579.742,46 |
17.334.782,77 |
|
Treasury |
8.923.867,00 |
-4.877.796,64 |
-14.945,55 |
4.705.929,11 |
|
Balance
Ratio |
3,00 |
1,21 |
2,33 |
4,74 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
59,75 |
53,87 |
66,85 |
76,79 |
|
Own /
Permanent Funds |
96,72 |
83,45 |
96,41 |
99,79 |
|
Payback
Capacity |
0,29 |
0,18 |
0,27 |
0,42 |
|
Long term
Indebtedness |
0,98 |
0,00 |
0,31 |
3,38 |
|
Gearing |
250,75 |
216,83 |
301,61 |
430,79 |
|
Financing
Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets
Guarantee |
1,67 |
1,23 |
1,47 |
1,79 |
|
LIQUIDITY |
|
|
|
|
|
General
Liquidity |
1,47 |
1,08 |
1,30 |
1,64 |
|
Immediate
Liquidity |
0,11 |
0,02 |
0,09 |
0,32 |
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%)