MIRA INFORM REPORT

 

 

Report Date :

30.10.2007

 

IDENTIFICATION DETAILS

 

Name :

ABS JETS, A.S.

 

 

Registered Office :

K letišti, Hangár C, 161 00 Praha 6, Ruzyně, Praha Letiště Ruzyně – Jih

 

 

Country :

Czech Republic

 

 

Date of Incorporation :

30.06.2004

 

 

Com. Reg. No.:

B 9421

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Scheduled air transport
Letting of own property

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

COMPANY REPORTED

 

 

 

ABS JETS, A.S.


Principal Address


K letišti, Hangár C
161 00 Praha 6, Ruzyně
Praha Letiště Ruzyně - Jih
Czech Republic
Tel: +420-220111439, +420-220111487, +420-723935743, +420-607505077
Email: kdvorak@absjets.cz
Internet: www.absjets.cz

 

Registered office


Pobřežní 297/14
186 00 Praha 8
Czech Republic

 

 

Former company names


1.ABS Air, a.s., valid since 30.06.2004 valid until 09.11.2004

 

 

ICON number

 

59747440

 

 

National ID

 

27163628

 

 

VAT number

 

CZ27163628

 

Registration status: 30.06.2004 - registered company
Activity status: 30.06.2004 - active company

 

 

 

 

 

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency / preliminary /debt regulation proceeding.

 

 

 

Maximum Credit:

EUR 0,00

Due to lack of insight into the company’s current financial situation a Maximum Credit cannot be given.

 

 

 

 

 

Payment Practices:

Payments are made irregularly.

 

 

 

Further Rating Information:

Researched company is categorized as a medium sized company.

 

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS

 

 

 

Established:

2004

 

 

 

Registration:

No. B 9421
30.06.2004
Praha, Czech Republic

 

 

 

Legal Form:

30.06.2004
joint stock company

 

 

 

Capital:

CZK 4.000.000,00

 

 

 

Shareholders:

Full Name

Function

Address

Equity

Arthur Bradley & Smith a.s.
Registration: 12.01.2000, Czech Republic

Shareholder
30.06.2004 - Present

Pobřežní 297/14
186 00 Praha 8
Czech Republic

100,00%

 

 

 

Management:

Full Name

Function

Address

JANČAŘIK Marián
25.09.2006 - Present

Chairman of the executive board

457
023 04 Stará Bystrica
Slovakia

Ing. BUDÍN František
19.09.2006 - Present

Member of the executive board

Na Maninách 1149/32A
170 00 Praha 7
Czech Republic

Mag. DVOŘÁK Zdeněk
19.09.2006 - Present

Member of the executive board

Nad Sadem 462/8
109 00 Praha 10
Czech Republic

PROŠKOVÁ Pavla
11.05.2006 - Present

Chairman of the supervisory board

Na Marsu 387
252 28 Černošice
Czech Republic

 

 

 

KEY DATA ON OPERATIONS

 

 

 

Subject of Operation:

NACE
  main activity
  6210 Scheduled air transport

  7020 Letting of own property
  5110 Wholesale on a fee or contract basis
  5248 Other retail sale in specialized stores
  7414 Business and management consultancy activities

 

 

 

Key Data:

Amounts shown in Czech Koruna (CZK)

 

2004

Turnover

12.291.000

Fixed assets

2.082.000

Equity

2.264.000

Liabilities

15.482.000

Loss after taxation

736.000

Operating result - loss

754.000

 

 

2004

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

NEGATIVE

Return on equity (ROE)
(Net result / Equity capital) * 100

NEGATIVE

 

 

 

Workforce:

 

2007

2006

2005

Total workforce

70 - 80

70 - 80

70 - 80

 

 

 

FINANCIAL INFORMATION

 

 

 

Financials:

Amounts shown in Czech Koruna (CZK)  

2004

 



Assets

 

TOTAL ASSETS

18.415.000,00

 

Fixed assets

2.082.000,00

 

Intangible fixed assets

1.631.000,00

 

Tangible fixed assets

451.000,00

 

Current assets

15.934.000,00

 

Short-term receivables

13.633.000,00

 

from that : Trade receivables

10.690.000,00

 

Liquid assets

2.301.000,00

 

Other assets

399.000,00

 



Equity & Liabilities

 

TOTAL LIABILITIES

18.415.000,00

 

Equity

2.264.000,00

 

Share capital

3.000.000,00

 

Profit or loss for the current period

-736.000,00

 

LIABILITIES

15.482.000,00

 

Long-term liabilities

-232.000,00

 

Short-term liabilities

15.255.000,00

 

Bank loans and borrowings

459.000,00

 

Short-term bank credits and loans

459.000,00

 

Other liabilities

669.000,00

 

BALANCE SHEET TOTAL

18.415.000,00

 



Profit & Loss Account

 

Turnover

12.291.000,00

 

Other operating revenues

1.000,00

 

Total operating income

12.292.000,00

 

Purchased consumables and services

10.686.000,00

 

Staff costs

1.939.000,00

 

Taxes and charges

37.000,00

 

Depreciations of intangible and tangible assets

378.000,00

 

Other operating expenses

6.000,00

 

Total operating expenses

13.046.000,00

 

OPERATING PROFIT / LOSS

-754.000,00

 

Financial income

5.000,00

 

Financial expenses

219.000,00

 

there of : Interest expenses

11.000,00

 

PROFIT/LOSS BEFORE TAX

-968.000,00

 

Corporation income tax

-232.000,00

 

PROFIT OR LOSS FOR THE CURRENT PERIOD

-736.000,00



Partial Financials:

Amounts shown in Czech Koruna (CZK)  

2007

2006

2005

 



Equity & Liabilities

 

Share capital

4.000.000,00

3.000.000,00

3.000.000,00

 

 

 

Approximate Exchange Rates:

2006: 28,343 CZK = 1 EUR
2005: 29,784 CZK = 1 EUR
2004: 31,904 CZK = 1 EUR
2003: 31,844 CZK = 1 EUR
2002: 30,812 CZK = 1 EUR
2006: 22,609 CZK = 1 USD
2005: 23,947 CZK = 1 USD
2004: 25,701 CZK = 1 USD
2003: 28,227 CZK = 1 USD
2002: 32,736 CZK = 1 USD

 

 

 

Financial Comments:

2004 The balance sheet data are from official sources.
2005-6 Balance sheet of the company is neither available from an official source (company court) nor from the company itself.

The company is obliged by law to publish its financial statements.

 

 

 

Ratios

 

2004

Liquidity Ratio - 3.stage
current assets / (Short-term liabilities + Short-term bank credits and loans)

1,01

Liquidity Ratio - 2.stage
(Short-term receivables + Liquid assets) / (Short-term liabilities + Short-term bank credits and loans)

1,01

Liquidity Ratio - 1.stage
Liquid assets / (Short-term liabilities + Short-term bank credits and loans)

0,15

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

NEGATIVE

Return on equity (ROE)
(Net result / Equity capital) * 100

NEGATIVE

Return on sales ( ROS )
Net profit / Turnover

NEGATIVE

Receivables Maturity Date (day)
Short-term receivables / Turnover * 365

404,85

Liabilities Maturity Date (day)
Short-term liabilities / Turnover * 365

453,02

Debt Ratio
(Liabilities / Total Liabilities) * 100

84,07

Net working capital
current assets - short term liabilities

CZK 679.000,00


Average values of ratios of enterprises with 100 or more employees in the sector of transport, storage and communication are following:

Liquidity Ratio - 3.stage: 2,5
Liquidity Ratio - 2.stage: 2,3
Liquidity Ratio - 1.stage: 1,0
ROA: 4,0 %
ROE: 6,0 %
Receivables Maturity Date: 100 days
Liabilities Maturity Date: 75 days
Debt Ratio: 35 %

 



ADDITIONAL INFORMATION

 

 

 

Contact With Company:

Name and surname: Mr. Kamil Dvořák
Function: financial director
Information given in report has been confirmed.

 

 

 

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.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions