MIRA
INFORM REPORT
|
Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
GKN GEPLASMETAL SA |
|
|
|
|
Registered Office : |
Calle Calle J (Pg Industrial Malpica ), 1 50057
Zaragoza ( |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
10/01/1980 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of farming machinery |
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Identification and
Characteristics
|
Tax Number |
A50054089 |
|
NAME |
GKN GEPLASMETAL SA |
|
FORMER NAME |
GEPLASMETAL SERVICIOS COMERCIALES SA |
|
BUSINESS
ADDRESS |
CALLE CALLE J (PG INDUSTRIAL MALPICA
), 1 |
|
Postcode |
50057 ZARAGOZA ( |
|
URL |
http://www.geplasmetal.es |
|
TELEPHONE |
976465254 |
|
FAX |
976571132 |
|
LEGAL FORM |
JOINT STOCK COMPANY |
|
DATE FOUNDED |
10/01/1980 |
|
CAPITAL |
3.325.688,00 Euros |
|
PAID-UP CAPITAL |
3.325.688,00 Euros |
|
NUMBER OF
EMPLOYEES |
62 |
|
ACTIVITY |
1617600 - Wholesale of farming
machinery |
|
CNAE |
5166 - Wholesale of agricultural
machinery and accessories and implements, including tractors |
|
EXPORT COMPANY |
YES |
|
IMPORT COMPANY |
YES |
|
* Characteristics of the main address |
|
|
According to our investigations
dated 30/09/2004 these premises are owned; with no official
confirmation used as office, warehouse . |
|
Synthesis
|
FINANCIAL SITUATION (Year
ending: 31/12/2005) |
||
|
|
|
|
|
PROFITABILITY |
|
Medium |
|
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 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 549.998,20
Max. |
|
SOLVENCY RATING: |
|
(BASED ON HOMOGENEOUS FORMULATION) |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Estimate 2.006
(12) |
|
|
SALES |
21.818.175,00 |
23.384.162,00 |
24.085.686,84 |
|
|
ADDED VALUE |
3.418.256,00 |
3.826.433,00 |
|
|
|
BUSINESS RESULT |
822.802,00 |
993.407,00 |
|
|
|
OWN FUNDS |
8.542.789,00 |
9.536.196,00 |
|
|
|
DEBT |
6.703.644,00 |
8.566.974,00 |
|
|
|
TOTAL ASSET |
15.246.433,00 |
18.103.170,00 |
|
|
|
The sales of 23.384.162,00
Euros show a change of 7,18% compared with
2.004 . |
||||
|
Added value grew by 11,94% compared
with the previous year. Shareholders equity are 9.536.196,00
Euros for an indebtedness of 8.566.974,00 Euros
. |
||||
|
The result 993.407,00
Euros means financial profitability of 10,42% and
economic profitability of 5,49% . This result means growth of
20,73% compared with the 2.004 . |
||||
|
|
||||
|
THE FIGURES FOR THE LAST BALANCE SHEET ARE
RELEVANT: |
||||
|
SOURCE: FROM THE MERCANTILE REGISTER |
||||
|
DATE: 28/07/2006 |
||||
|
|
|
|||
|
Results Distribution |
||||
|
Annual Report Year Source: 2.005 |
||||
|
Figures given in Euros |
||||
|
Distribution Base |
||||
|
Profit and Loss |
993.407 |
|||
|
Total of Amounts to be
distributed |
993.407 |
|||
|
Distribution a |
||||
|
Voluntary Reserve |
993.407 |
|||
|
|
||||
|
Auditors’ opinion: |
||||
|
FAVOURABLE (2.005) |
||||
|
|
||||
|
Auditors: |
||||
|
PRICEWATERHOUSECOOPERS AUDITORES SL |
||||
Comparative Sector
Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
98,95 |
98,94 |
0,01 |
|
ADDED
VALUE |
16,19 |
18,82 |
-2,63 |
|
BUSINESS
RESULT |
4,20 |
4,02 |
0,18 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
52,68 |
41,75 |
10,93 |
|
DEBT |
47,32 |
58,25 |
-10,93 |
Compared sector (CNAE): 516 - Comercio al
por mayor de maquinaria y equipo
Number of companies: 422
Size (Sales Figure): 7.000.000,00 -
40.000.000,00 Euros
The turnover of the company is 0,01% above
the mean for the sector.
The company’s added value was 16,19%
s/ the production value, and 2,63% below the mean for the sector.
The company’s business result was
4,20% of the PV, 0,18% above the mean for the sector.
The company’s own resources are 52,68%
, 10,93% above the mean for the sector.
The company’s outside resources are
47,32% , 10,93% below the mean for the sector.
Legal Actions
|
No legal incidences registered for this
company in the official source |
|
|
CLAIM FILED AGAINST THE
ADMINISTRATION: 1 |
( Last 17/07/2006 ) |
|
|
0 |
|
|
0 |
|
|
1 |
|
AFFECTED BY: 1 Company /
Companies in Insolvency Proceedings |
|
With
the Social Security:
|
Last claim filed against the
administration |
|
(Figures given in Euros) |
|
||||
|
Rest of Organisms: 1 |
||||
|
|
||||
|
|
Information Date |
Organization |
|
|
|
|
17/07/2006 |
TOWN/ CITY HALL DE SEVILLA |
|
|
|
|
||||
Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
CHAIRMAN |
JOHNSTONE MARK ROBIN |
20/10/2006 |
|
VICE-PRESIDENT |
VON FRANSECKY RAIMUND |
20/10/2006 |
|
BOARD MEMBER |
MORALES GARCIA ANTONIO |
18/04/2001 |
|
BOARD MEMBER |
TRAVERSO DOMENICO |
20/10/2006 |
|
SECRETARY |
COMPANY CERESUELA JOSE MARIA |
20/10/2006 |
|
AUDITOR |
PRICEWATERHOUSECOOPERS AUDITORES SL |
06/09/2006 |
Functional Managers
|
Position |
Surname and name |
|
MANAGER |
JULIO VICENTE |
|
FINANCIAL MANAGER |
BONDIA JAIME |
|
PURCHASES MANAGER |
JOSE MARIA COMPANY |
|
COMPUTING MANAGER |
|
|
GENERAL MANAGER |
VON FRANSECKY RAIMUND |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
GKN |
PAÍSES BAJOS |
97,01% |
OWN SOURCES |
28/05/2007 |
|
FABBRICA ASSALI E DISCHI S.P.A |
ITALIA |
Indet. |
OWN SOURCES |
19/02/2007 |
|
GKN |
|
Indet. |
OWN SOURCES |
19/02/2007 |
|
|
PAÍSES BAJOS |
Indet. |
M.REGISTER |
31/12/2001 |
|
Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
FAD SUDAMERICANA |
PAÍSES DIVERSOS |
2,00% |
M.REGISTER |
31/12/2002 |
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Resignations |
02/03/2007 |
127717 |
|
|
Appointments |
02/03/2007 |
127717 |
|
|
Resignations |
20/10/2006 |
505528 |
|
|
Appointments |
20/10/2006 |
505528 |
|
|
Re-elections |
06/09/2006 |
439705 |
|
Remarks for customer
ABOUT YOUR REQUEST.
The Social Reason of the request (GKN OFFHIGHWAY
SYSTEMS), corresponds(fits) to a line of business of the group that desarolla
to title, the Social correct Reason is the offered one in the report.
Branches
|
Road |
Postal Code |
Town |
Province |
|
|
06800 |
|
|
|
Commercial Experience |
|
|
|
PURCHASES |
|
Import Percentage:
90% |
|
Imports::
|
|
Italia y Francia |
|
|
|
SALES |
|
Export Percentage: 1% |
|
Exports::
|
|
|
|
|
|
|
Suppliers |
International |
|
FABRICA ASSALI DISCHI SPA |
|
|
FABRICA ASSAKI DISCHI SPA |
|
|
GSM FRENI GIANOTTI |
|
|
INTERGOMMA SPA |
|
|
|
|
|
Total 4 |
|
|
|
|
|
Clients |
International |
|
FAD SUDAMERICANA SA |
|
|
GSM FRENI GIANOTTI SRL |
|
|
FABRICA ASSAKI DISCHI SPA |
|
|
FAD SUDAMERICANA |
|
|
INTERGOMMA SPA |
|
|
Total 5 |
|
Bank Entities
|
Entity |
|
|
Town |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
|
|
|
BANCO DE SABADELL, S.A. |
|
|
|
|
|
BANCO CENTRAL HISPANO, S.A. |
|
|
|
|
|
|
|
|
|
|
|
DEUTSCHE BANK, S.A.E. |
|
|
|
|
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 28/07/2006
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 |
1.786.513,00 |
1.766.228,00 |
1.884.361,00 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
51.662,00 |
20.126,00 |
36.664,00 |
|
|
Software |
881.489,00 |
881.489,00 |
902.642,00 |
|
|
Amortization |
-829.827,00 |
-861.363,00 |
-865.978,00 |
|
|
III. Tangible assets |
1.729.211,00 |
1.740.462,00 |
1.832.187,00 |
|
|
Property, plant and equipment |
1.775.351,00 |
1.840.940,00 |
1.871.305,00 |
|
|
Machinery, equipment and other |
1.376.701,00 |
1.412.064,00 |
1.614.778,00 |
|
|
Other property plant and equipement |
830.521,00 |
843.738,00 |
867.369,00 |
|
|
Other assets |
7.212,00 |
7.212,00 |
7.212,00 |
|
|
Depreciation |
-2.260.574,00 |
-2.363.492,00 |
-2.528.477,00 |
|
|
IV. Financial assets |
5.640,00 |
5.640,00 |
15.510,00 |
|
|
Long term deposits and guarantees |
5.640,00 |
5.640,00 |
15.510,00 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
12.724.968,00 |
13.480.205,00 |
16.218.809,00 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
3.766.835,00 |
4.178.640,00 |
5.795.357,00 |
|
|
Goods available for sale |
3.766.835,00 |
4.178.640,00 |
5.869.720,00 |
|
|
Provisions |
|
|
-74.363,00 |
|
|
III. Debtors |
5.931.337,00 |
5.498.490,00 |
6.665.685,00 |
|
|
Clients |
6.407.202,00 |
6.049.417,00 |
7.103.077,00 |
|
|
Amounts owned by affiliated companies |
52.429,00 |
61.055,00 |
133.023,00 |
|
|
Other debts |
13.286,00 |
17.182,00 |
18.264,00 |
|
|
Taxes refunds |
105.532,00 |
66.882,00 |
81.910,00 |
|
|
Provisions |
-647.112,00 |
-696.046,00 |
-670.589,00 |
|
|
IV. Short term financial assets |
600.000,00 |
1.775.000,00 |
|
|
|
Short Term Deposit and guarantees |
600.000,00 |
1.775.000,00 |
|
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
2.426.796,00 |
2.025.664,00 |
3.744.178,00 |
|
|
VII. Prepaid expenses and accrued income |
|
2.411,00 |
13.589,00 |
|
|
ASSETS (A + B + C + D) |
14.511.481,00 |
15.246.433,00 |
18.103.170,00 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
7.719.987,00 |
8.542.789,00 |
9.536.196,00 |
|
|
I. Capital |
3.325.688,00 |
3.325.688,00 |
3.325.688,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
3.724.638,00 |
4.394.299,00 |
5.217.101,00 |
|
|
Retained earnings |
613.821,00 |
665.138,00 |
665.138,00 |
|
|
Other funds |
3.110.750,00 |
3.729.094,00 |
4.551.896,00 |
|
|
Capital adjustments in Euros |
67,00 |
67,00 |
67,00 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
669.661,00 |
822.802,00 |
993.407,00 |
|
|
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 |
|
|
|
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
|
|
|
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
|
|
|
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
6.791.494,00 |
6.703.644,00 |
8.566.974,00 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
|
|
|
|
|
III. Short term debts with associated and
affiliated companies |
1.716.780,00 |
2.118.885,00 |
2.054.773,00 |
|
|
With affiliated companies |
1.716.780,00 |
2.118.885,00 |
2.054.773,00 |
|
|
IV. Trade creditors |
4.260.778,00 |
3.924.122,00 |
5.895.641,00 |
|
|
Accounts payable |
|
180.304,00 |
19,00 |
|
|
Expenses |
4.260.778,00 |
3.743.818,00 |
1.586.693,00 |
|
|
Bills payable |
|
|
4.308.929,00 |
|
|
V. Other non trade payables |
813.936,00 |
660.637,00 |
616.560,00 |
|
|
Government |
511.284,00 |
355.067,00 |
451.395,00 |
|
|
Accounts receivable |
302.652,00 |
305.570,00 |
165.165,00 |
|
|
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) |
14.511.481,00 |
15.246.433,00 |
18.103.170,00 |
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 |
16.024.995,00 |
16.495.188,00 |
17.331.380,00 |
|
|
Material consumed |
16.024.995,00 |
16.495.188,00 |
17.331.380,00 |
|
|
A.3. Labor cost |
1.961.679,00 |
1.847.740,00 |
2.080.446,00 |
|
|
Wages |
1.561.681,00 |
1.443.765,00 |
1.551.506,00 |
|
|
Social security expenses |
399.998,00 |
403.975,00 |
528.940,00 |
|
|
A.4. Assets depreciation |
256.343,00 |
232.387,00 |
179.034,00 |
|
|
A.5 Variance in provision for current
assets |
-22.361,00 |
49.774,00 |
91.980,00 |
|
|
Variance in provision for inventory |
|
|
74.363,00 |
|
|
Variance in provision for bad debts |
-22.361,00 |
49.774,00 |
17.617,00 |
|
|
A.6. Other operating costs |
2.159.175,00 |
2.108.271,00 |
2.474.105,00 |
|
|
External costs |
2.129.314,00 |
2.082.291,00 |
2.449.880,00 |
|
|
Taxes |
29.822,00 |
25.854,00 |
24.141,00 |
|
|
Other day to day expenses |
39,00 |
126,00 |
84,00 |
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
569.106,00 |
1.288.355,00 |
1.474.973,00 |
|
|
A.7. Financial expenses |
163.988,00 |
121.398,00 |
69.901,00 |
|
|
Debts with related companies |
21.999,00 |
|
|
|
|
Other companies debts |
141.989,00 |
121.398,00 |
69.901,00 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
17.901,00 |
7.176,00 |
204,00 |
|
|
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) |
401.294,00 |
1.184.796,00 |
1.454.667,00 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
|
|
|
A.11. Losses in fixed assets |
6.090,00 |
6.259,00 |
4.236,00 |
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
64.230,00 |
794,00 |
869,00 |
|
|
A.14. Prior year’s expenses and losses |
140.565,00 |
340,00 |
5.835,00 |
|
|
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) |
537.490,00 |
38.043,00 |
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
938.784,00 |
1.222.839,00 |
1.454.482,00 |
|
|
A.15. Corporate Taxes |
269.123,00 |
400.037,00 |
461.075,00 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT) (A.V-A.15-A.16) |
669.661,00 |
822.802,00 |
993.407,00 |
|
|
B) INCOMES (B.1 a B13) |
|
|
|
|
|
B.1. Turnover |
20.828.781,00 |
21.818.175,00 |
23.384.162,00 |
|
|
Sales |
20.828.781,00 |
21.818.175,00 |
23.384.162,00 |
|
|
B.2. Increase in inventory of finished
goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
120.156,00 |
203.540,00 |
247.756,00 |
|
|
Other incomes |
120.031,00 |
203.540,00 |
235.756,00 |
|
|
Grants |
125,00 |
|
12.000,00 |
|
|
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 |
10.201,00 |
23.161,00 |
42.690,00 |
|
|
From affiliated companies |
|
|
40.135,00 |
|
|
From other companies |
10.201,00 |
23.161,00 |
2.555,00 |
|
|
B.8. Gains on exchange |
3.876,00 |
1.854,00 |
7.109,00 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
167.812,00 |
103.559,00 |
20.306,00 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
723.914,00 |
926,00 |
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
5.353,00 |
8.510,00 |
14,00 |
|
|
B.13. Prior year’s income and profits |
19.108,00 |
36.000,00 |
10.741,00 |
|
|
B.IV. EXTRAORDINARY LOSSES
(A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
|
185,00 |
|
|
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) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
0,96 |
4,75 |
7,18 |
|
|
Assets Turnover |
1,44 |
1,43 |
1,29 |
|
|
Productivity |
1,41 |
1,85 |
1,84 |
|
|
Increase of the Added Value |
-2,40 |
23,64 |
11,94 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,62 |
5,40 |
5,49 |
|
|
Financial Profitability |
8,67 |
9,63 |
10,42 |
|
|
Financial Expenses |
0,79 |
0,56 |
0,30 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
103,00 |
91,00 |
103,00 |
|
|
Suppliers’ Credit (In days of sales) |
96,00 |
86,00 |
122,00 |
|
|
Working Capital (In days of sales) |
103,00 |
112,00 |
118,00 |
|
|
Working Capital Requirement (In days of
sales) |
50,00 |
49,00 |
60,00 |
|
|
Treasury (In days of sales) |
52,00 |
63,00 |
58,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
5.933.474,00 |
6.776.561,00 |
7.651.835,00 |
|
|
Working Capital Requirement |
2.906.678,00 |
2.975.897,00 |
3.907.657,00 |
|
|
Treasury |
3.026.796,00 |
3.800.664,00 |
3.744.178,00 |
|
|
Balance Ratio |
4,32 |
4,84 |
5,06 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
46,80 |
43,97 |
47,32 |
|
|
Own / Permanent Funds |
100,00 |
100,00 |
100,00 |
|
|
Payback Capacity |
0,32 |
0,30 |
0,36 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,87 |
2,01 |
1,89 |
|
|
Immediate Liquidity |
0,45 |
0,57 |
0,44 |
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 |
10,41 |
21,30 |
-10,89 |
|
ACCRUED EXPENSES |
0,00 |
0,28 |
-0,28 |
|
CURRENT ASSETS |
89,59 |
78,42 |
11,17 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
52,68 |
41,75 |
10,93 |
|
ACCRUED INCOME |
0,00 |
0,13 |
-0,13 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,30 |
-0,30 |
|
LONG-TERM CREDITORS |
0,00 |
5,91 |
-5,91 |
|
SHORT-TERM CREDITORS |
47,32 |
51,86 |
-4,54 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,05 |
-0,05 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Net turnover |
98,95 |
98,94 |
0,01 |
|
Other operating income |
1,05 |
1,06 |
-0,01 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
73,34 |
72,36 |
0,98 |
|
Other operation expenses |
10,47 |
8,82 |
1,65 |
|
Added value |
16,19 |
18,82 |
-2,63 |
|
Labor cost |
8,80 |
11,15 |
-2,34 |
|
Gross Economic Result |
7,39 |
7,67 |
-0,28 |
|
Assets depreciation |
0,76 |
1,46 |
-0,70 |
|
Variation in provision
for current assets |
0,39 |
0,38 |
0,01 |
|
Net Economic Result |
6,24 |
5,83 |
0,41 |
|
Financial income |
0,21 |
0,61 |
-0,40 |
|
Financial expenses |
0,30 |
0,78 |
-0,49 |
|
Variation in financial
investment provision |
0,00 |
0,03 |
-0,03 |
|
Ordinary Activities
Result |
6,16 |
5,63 |
0,53 |
|
Extraordinary income |
0,05 |
0,43 |
-0,38 |
|
Extraordinary expenses |
0,05 |
0,23 |
-0,19 |
|
Variation in provision
in fixed assets |
0,00 |
0,00 |
-0,00 |
|
Results before Taxes |
6,15 |
5,82 |
0,34 |
|
Corporaye taxes |
1,95 |
1,80 |
0,15 |
|
Net Result |
4,20 |
4,02 |
0,19 |
|
Assets depreciation |
0,76 |
1,46 |
-0,70 |
|
Provisions fund
variation |
0,39 |
0,41 |
-0,02 |
|
Net Self-Financing |
5,35 |
5,89 |
-0,54 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
7,18 |
-0,44 |
7,70 |
16,50 |
|
Assets Turnover |
1,29 |
1,24 |
1,55 |
2,02 |
|
Fixed Assets Turnover |
12,41 |
5,92 |
12,54 |
27,17 |
|
Increase of the Added
Value |
11,94 |
-6,15 |
5,35 |
16,31 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,84 |
1,36 |
1,62 |
2,02 |
|
Change of Personnel
Costs |
12,59 |
1,16 |
8,86 |
15,70 |
|
Average Personnel Costs |
27.739,28 |
28.490,42 |
35.595,59 |
45.176,42 |
|
Value Added by Employees |
51.019,11 |
45.234,47 |
58.825,84 |
79.548,24 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
1.264.421,00 |
260.353,07 |
562.855,11 |
1.070.176,03 |
|
Operating Cash Flow |
1.745.987,00 |
365.717,05 |
773.477,69 |
1.384.055,18 |
|
Change in Cash Flow |
14,43 |
-17,53 |
4,53 |
25,34 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
5,49 |
2,22 |
4,72 |
8,73 |
|
Financial Profitability |
10,42 |
7,75 |
14,15 |
21,47 |
|
Financial Expenses |
0,30 |
0,20 |
0,55 |
0,97 |
|
Gross Economic
Profitability |
9,64 |
6,18 |
10,04 |
14,97 |
|
Gross Financial
Profitability |
18,31 |
18,42 |
29,07 |
42,78 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
102,00 |
82,33 |
116,19 |
140,20 |
|
Suppliers’ Credit (In
days of sales) |
122,00 |
32,40 |
81,64 |
125,02 |
|
Working Capital (In days
of sales) |
117,00 |
22,17 |
51,41 |
96,36 |
|
Working Capital
Requirement (In days of sales) |
60,00 |
24,96 |
58,90 |
95,80 |
|
Treasury (In days of
sales) |
57,00 |
-33,02 |
1,99 |
29,36 |
|
Operating Current Assets |
249,00 |
150,93 |
190,95 |
231,77 |
|
BALANCE |
|
|
|
|
|
Working Capital |
7.651.835,00 |
687.037,45 |
1.733.222,32 |
3.526.329,13 |
|
Working Capital
Requirement |
3.907.657,00 |
793.227,96 |
1.891.015,38 |
3.388.739,02 |
|
Treasury |
3.744.178,00 |
-1.132.386,99 |
71.480,05 |
1.027.343,20 |
|
Balance Ratio |
5,06 |
1,51 |
2,82 |
6,35 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
47,32 |
45,88 |
62,48 |
78,11 |
|
Own / Permanent Funds |
100,00 |
80,28 |
96,19 |
99,94 |
|
Payback Capacity |
0,36 |
0,25 |
0,37 |
0,49 |
|
Long term Indebtedness |
|
0,00 |
0,99 |
7,33 |
|
Gearing |
189,84 |
184,76 |
266,52 |
456,75 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
2,11 |
1,24 |
1,54 |
2,13 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,89 |
1,15 |
1,44 |
2,01 |
|
Immediate Liquidity |
0,44 |
0,04 |
0,12 |
0,37 |
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%)