MIRA
INFORM REPORT
|
Report Date : |
08.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GOITI SPAIN |
|
|
|
|
Registered Office : |
Calle Apraiz Kalea, 1
20870 Elgoibar (Guipuzcoa) |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2000 |
|
|
|
|
Date of Incorporation : |
01.01.1961 |
|
|
|
|
Legal Form : |
Cooperative |
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|
|
|
Line of Business : |
Manufacturing of Machinery, Mechanical Equipment |
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Identification and
Characteristics
|
Tax Number |
F20023073 |
|
NAME |
GOITI SCL |
|
TRADE NAME |
DANOBAT |
|
BUSINESS
ADDRESS |
CALLE APRAIZ KALEA, 1 |
|
Postcode |
20870 ELGOIBAR (GUIPUZCOA) |
|
URL |
http://www.goiti.com |
|
TELEPHONE |
943748023 |
|
FAX |
943748145 |
|
LEGAL FORM |
COOPERATIVE |
|
DATE FOUNDED |
01/01/1961 |
|
CAPITAL |
3.052.840,98 Euros |
|
PAID-UP CAPITAL |
3.052.840,98 Euros |
|
NUMBER OF
EMPLOYEES |
70 |
|
ACTIVITY |
1322400 - Mfg. of machinery,
mechanical equipment |
|
CNAE |
2940 - Manufacture of
machine-tools |
|
EXPORT COMPANY |
YES |
|
IMPORT COMPANY |
YES |
|
* Characteristics of the main address |
|
|
According to our
investigations dated these premises are owned; with no official
confirmation used as office, factory, warehouse
park of industries . |
|
|
Synthesis |
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|
INCIDENTS |
||
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|
|
|
|
COMMITMENTS |
|
9/9 Respected |
|
INCIDENTS |
|
9/9 None
or Negligible |
|
PREVIOUS EXPERIENCE |
||
|
|
|
|
|
PREVIOUS
EXPERIENCE |
|
9/9 Very
favourable |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 96.997,34
Max. |
|
SOLVENCY RATING: |
|
(BASED ON HOMOGENEOUS FORMULATION) |
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2.000 (12) |
Balance
sheet 2.001 (12) |
Balance
sheet 2.002 (12) |
%
Sales |
|
|
SALES |
15.490.467,95 |
16.453.914,39 |
13.821.762,84 |
|
|
|
ADDED VALUE |
4.000.697,17 |
4.120.448,84 |
3.604.053,59 |
26,08 |
|
|
BUSINESS RESULT |
940.385,61 |
855.384,47 |
489.653,11 |
3,54 |
|
|
OWN FUNDS |
6.773.538,64 |
7.164.863,63 |
7.350.294,12 |
|
|
|
DEBT |
5.083.618,81 |
4.233.246,79 |
3.697.367,78 |
|
|
|
TOTAL ASSET |
12.041.596,05 |
11.570.258,32 |
11.249.208,05 |
|
|
|
The sales of 13.821.762,84
Euros show a change of -16,00% compared with
2.001 . Between 2.000 and 2.001 , this
change was 6,22% . |
|||||
|
Added value grew by -12,53% compared
with the previous year. Shareholders equity are 7.350.294,12
Euros for an indebtedness of 3.697.367,78 Euros
. |
|||||
|
The result 489.653,11 Euros means
financial profitability of 6,66% and economic profitability of
4,35% . This result means growth of -42,76% compared
with the 2.001 . |
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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: 24/10/2004 |
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Results Distribution
|
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Annual Report Year Source: 2.001 |
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|
Figures given in Euros |
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|
Distribution Base |
|||||
|
Profit and Loss |
855.384,47 |
||||
|
Total of Amounts to be
distributed |
855.384,47 |
||||
|
Distribution a |
|||||
|
Retained earnings |
256.614,14 |
||||
|
Voluntary Reserve |
42.768,02 |
||||
|
Dividends |
556.002,31 |
||||
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|
|||||
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Auditors’ opinion: |
|||||
|
FAVOURABLE (2.001) |
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|
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Auditors: |
|||||
|
ZUBIZARRETA CONSULTING S.L. |
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Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.002)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
97,35 |
97,06 |
0,29 |
|
ADDED
VALUE |
25,38 |
27,78 |
-2,40 |
|
BUSINESS
RESULT |
3,45 |
-1,34 |
4,79 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
65,34 |
47,09 |
18,25 |
|
DEBT |
32,87 |
52,91 |
-20,04 |
Compared sector (CNAE): 294 - Fabricación
de máquinas-herramienta
Number of companies: 21
Size (Sales Figure): > 7.000.000,00
Euros
The turnover of the company is 0,29% above
the mean for the sector.
The company’s added value was 25,38% s/ the
production value, and 2,40% below the mean for the sector.
The company’s business result was 3,45% of
the PV, 4,79% above the mean for the sector.
The company’s own resources are 65,34% ,
18,25% above the mean for the sector.
The company’s outside resources are 32,87% ,
20,04% 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 |
CARITANO SANCHEZ
LUIS |
07/11/2007 |
|
SECRETARY |
ANSOLA SOINADA
JAVIER |
07/11/2007 |
|
AUDITOR |
ZUBIZARRETA
CONSULTING S.L. |
31/12/2001 |
Functional Managers
|
Position |
Surname and name |
|
GENERAL MANAGER |
PAGAEGUI OLABE
JOSE MARIA |
|
GENERAL MANAGER |
JUARISTI JOSE
LUIS |
|
MANAGER |
PAGAEGUI OLABE
JOSE MARIA |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
JOSE LUIS JUARISTI |
|
Indet.
|
OWN SOURCES |
29/09/2006 |
|
PAGAEGUI OLABE JOSE MARIA |
|
Indet.
|
OWN SOURCES |
17/04/2000 |
|
DANOBAT S.COOP |
F20028809 |
Indet.
|
M.REGISTER |
31/12/2001 |
|
SOLUPE INAKI |
|
Indet.
|
OWN SOURCES |
17/04/2000 |
|
SASIAIN JON |
|
Indet.
|
OWN SOURCES |
17/04/2000 |
|
CARITANO SANCHEZ LUIS |
|
Indet.
|
OWN SOURCES |
07/11/2007 |
|
Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
CAJA LABORAL POPULAR COOP DE CREDITO. |
F20022109 |
Indet.
|
M.REGISTER |
31/12/2001 |
|
DANO RAIL SOCIEDAD COOPERATIVA |
F20876462 |
Indet.
|
OWN SOURCES |
08/11/2006 |
|
IDEKO SDAD COOP |
F20147773 |
Indet.
|
M.REGISTER |
31/12/2000 |
|
MONDRAGON CORPORACION COOPERATIVA
INVERSIONES |
F20182192 |
Indet.
|
M.REGISTER |
31/12/2001 |
Remarks for customer
Here is our final commercial report since
this type of compa ny is not obliged to file their balance sheet in the Official
Mercantile Register.The address included in your enquiry belongs is correct.(PO
BOX 80) PG IND ARRIAGA 20870 ELGOIBAR.
Brands, Signs and Commercial
Names
|
Prevailing Brands |
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|
Name: |
DANOBAT |
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|
Kind of Brand: |
DENOMINATIVE |
File: |
M1969300 |
||
|
Request Date: |
05/06/1995 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 39 |
|
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Total Marcas: 1
Commercial Experience
|
|
|
General Information |
|
|
Foundation Year 1961 |
|
|
Founder LA TITULR ES LA FUNDADORA INICIAL DEL NEGOCIO |
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|
PURCHASES |
|
Import Percentage: 10% |
|
Imports:: |
|
EEUU |
|
|
|
SALES |
|
Collection (estimated) |
|
Credit sales percentage 100 % |
|
|
|
Export
Percentage: 50% |
|
Exports:: |
|
Reino Unido, Egipto, Francia y Canada |
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
CAJA LABORAL POPULAR C.C. |
0007 |
SAN IGNACIO ,1 |
ELGOIBAR |
GUIPUZCOA |
|
BANCO GUIPUZCOANO, 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 24/10/2004
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2000 (12) |
31/12/2001 (12) |
31/12/2002 (12) |
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
8.122,83 |
|
|
B) FIXED ASSETS |
3.189.312,80 |
3.447.285,23 |
3.198.419,44 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
49.012,54 |
44.901,61 |
86.493,26 |
|
|
III. Tangible assets |
1.895.874,65 |
1.914.794,51 |
1.754.728,70 |
|
|
IV. Financial assets |
1.054.277,40 |
1.217.013,45 |
1.357.197,48 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
190.148,21 |
270.575,65 |
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
8.852.283,24 |
8.122.973,09 |
8.042.665,78 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
1.984.223,43 |
2.103.518,32 |
2.115.197,93 |
|
|
III. Debtors |
3.578.323,90 |
3.286.646,71 |
3.422.955,80 |
|
|
IV. Short term financial assets |
2.636.177,32 |
2.099.936,29 |
1.748.482,28 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
608.055,97 |
593.259,05 |
754.092,45 |
|
|
VII. Prepaid expenses and accrued income |
45.502,63 |
39.612,71 |
1.937,32 |
|
|
ASSETS (A + B + C + D) |
12.041.596,05 |
11.570.258,32 |
11.249.208,05 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2000 (12)
|
31/12/2001 (12)
|
31/12/2002 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
6.773.538,64 |
7.164.863,63 |
7.350.294,12 |
|
|
I. Capital |
2.821.745,82 |
3.052.840,98 |
3.380.254,78 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
245.441,32 |
245.441,32 |
245.443,91 |
|
|
IV. Reserves |
2.765.965,89 |
3.011.196,86 |
3.234.942,32 |
|
|
Sundry reserves |
2.765.965,89 |
3.011.196,86 |
3.234.942,32 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
940.385,61 |
855.384,47 |
489.653,11 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
45.688,94 |
43.831,81 |
24.203,96 |
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
84.358,06 |
124.403,50 |
173.931,07 |
|
|
D) LONG TERM LIABILITIES |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
5.083.618,81 |
4.233.246,79 |
3.697.367,78 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
54.391,60 |
3.912,59 |
3.411,12 |
|
|
LIABILITIES (A + B + C + D + E + F) |
12.041.596,05 |
11.570.258,32 |
11.249.208,05 |
Profit and Loss Account
|
(Figures given in Euros) |
31/12/2000 (12)
|
31/12/2001 (12)
|
31/12/2002 (12)
|
|
|
|
A) EXPENSES (A.1 a A.15) |
15.130.816,29 |
16.219.285,28 |
13.885.417,48 |
|
|
A.1 Operating Expenses |
9.721.755,44 |
10.104.984,79 |
9.020.401,42 |
|
|
A.3. Labor cost |
2.266.338,51 |
2.529.125,05 |
2.498.082,27 |
|
|
Wages |
1.721.256,60 |
1.900.412,29 |
1.858.171,14 |
|
|
Social security expenses |
545.081,92 |
628.712,75 |
639.911,13 |
|
|
A.3. Assets depreciation |
210.336,21 |
209.723,17 |
234.003,22 |
|
|
A.4. Variance in provision for current
assets |
180.183,43 |
264.126,79 |
-22.272,87 |
|
|
A.5. Other operating costs |
2.058.935,25 |
2.535.243,35 |
1.573.343,42 |
|
|
A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
1.343.839,02 |
1.117.473,83 |
894.240,97 |
|
|
A.6. Financial expenses |
268.454,08 |
281.496,04 |
287.211,73 |
|
|
Other companies debts |
268.454,08 |
281.496,04 |
287.211,73 |
|
|
A.7. Variation in financial investments
provision |
|
|
|
|
|
A.8. Exchange losses |
23.006,74 |
5.282,90 |
55.263,31 |
|
|
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) |
1.309.659,47 |
1.082.783,41 |
728.555,00 |
|
|
A.9. Variation in provision in fixed
assets |
|
|
|
|
|
A.10. Losses in fixed assets |
4.014,76 |
1.760,97 |
341,56 |
|
|
A.11. Losses from shares and bonds |
|
|
|
|
|
A.12. Extraordinary charges |
346.261,10 |
257.984,45 |
226.811,00 |
|
|
A.13. Prior year’s expenses and losses |
|
|
|
|
|
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) |
|
|
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
991.916,39 |
884.942,24 |
501.885,53 |
|
|
A.14. Corporate Taxes |
51.530,78 |
29.557,78 |
12.232,42 |
|
|
A.15. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
940.385,61 |
855.384,47 |
489.653,11 |
|
|
B) INCOMES (B.1 a B.8) |
16.071.201,90 |
17.074.669,74 |
14.375.070,59 |
|
|
B.1. Operating income |
15.781.387,86 |
16.760.676,98 |
14.197.798,43 |
|
|
Turnover |
15.490.467,95 |
16.453.914,39 |
13.821.762,84 |
|
|
Other operating income |
290.919,91 |
306.762,59 |
376.035,59 |
|
|
B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
|
|
B.2. Financial Income |
202.733,40 |
233.619,42 |
175.245,01 |
|
|
Other |
202.733,40 |
233.619,42 |
175.245,01 |
|
|
B.3. Gains on exchange |
54.547,86 |
18.469,10 |
1.544,06 |
|
|
B.II. FINANCIAL LOSSES
(A.6+A.7+A.8-B.2-B.3) |
34.179,56 |
34.690,42 |
165.685,97 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.4. Gains from disposal of fixed assets |
|
|
|
|
|
B.5. Gains from dealing in own shares |
|
|
|
|
|
B.6. Paid in surplus |
3.732,29 |
3.281,53 |
20,40 |
|
|
B.7. Extraordinary income |
28.800,50 |
58.622,72 |
462,69 |
|
|
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) |
317.743,08 |
197.841,16 |
226.669,47 |
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
|
|
|
|
B.VI. NET LOSS (B.V+A.14+A.15) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.000 (12) |
2.001 (12) |
2.002 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
11,85 |
6,22 |
-16,00 |
|
|
Assets Turnover |
1,29 |
1,42 |
1,23 |
|
|
Productivity |
1,77 |
1,63 |
1,44 |
|
|
Increase of the Added Value |
8,93 |
2,99 |
-12,53 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
7,81 |
7,39 |
4,35 |
|
|
Financial Profitability |
13,88 |
11,94 |
6,66 |
|
|
Financial Expenses |
1,73 |
1,71 |
2,08 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
83,00 |
72,00 |
89,00 |
|
|
Suppliers’ Credit (In days of sales) |
143,00 |
105,00 |
|
|
|
Working Capital (In days of sales) |
86,00 |
85,00 |
113,00 |
|
|
Working Capital Requirement (In days of
sales) |
14,00 |
29,00 |
48,00 |
|
|
Treasury (In days of sales) |
74,00 |
56,00 |
65,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
3.714.272,84 |
3.885.813,71 |
4.341.886,88 |
|
|
Working Capital Requirement |
598.109,22 |
1.333.267,22 |
1.850.846,10 |
|
|
Treasury |
3.170.555,21 |
2.556.459,08 |
2.502.574,73 |
|
|
Balance Ratio |
2,17 |
2,13 |
2,36 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
42,22 |
36,59 |
32,87 |
|
|
Own / Permanent Funds |
98,12 |
97,71 |
97,37 |
|
|
Payback Capacity |
0,32 |
0,25 |
0,26 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,72 |
1,92 |
2,17 |
|
|
Immediate Liquidity |
0,64 |
0,64 |
0,68 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.002 |
|
|
|
Assets |
|||
|
DUE
FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
0,07 |
0,00 |
0,07 |
|
FIXED
ASSETS |
28,43 |
30,96 |
-2,53 |
|
ACCRUED
EXPENSES |
0,00 |
0,08 |
-0,08 |
|
CURRENT
ASSETS |
71,50 |
68,95 |
2,55 |
|
TOTAL
ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS
EQUITY |
65,34 |
47,09 |
18,25 |
|
ACCRUED
INCOME |
0,22 |
0,39 |
-0,17 |
|
RISK
AND EXPENDITURE COVER |
1,55 |
2,28 |
-0,73 |
|
LONG-TERM
CREDITORS |
0,00 |
6,36 |
-6,36 |
|
SHORT-TERM
CREDITORS |
32,87 |
43,13 |
-10,26 |
|
SHORT-TERM
RISK AND EXPENDITURE COVER |
0,03 |
0,76 |
-0,73 |
|
TOTAL
LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.002 |
|
|
|
Net turnover |
97,35 |
97,06 |
0,29 |
|
Other operating income |
2,65 |
2,94 |
-0,29 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
63,53 |
56,43 |
7,11 |
|
Other operation expenses |
11,08 |
15,79 |
-4,71 |
|
Added value |
25,38 |
27,78 |
-2,39 |
|
Labor cost |
17,59 |
23,53 |
-5,94 |
|
Gross Economic Result |
7,79 |
4,25 |
3,54 |
|
Assets depreciation |
1,65 |
3,52 |
-1,87 |
|
Variation in provision
for current assets |
-0,16 |
0,65 |
-0,81 |
|
Net Economic Result |
6,30 |
0,07 |
6,22 |
|
Financial income |
1,25 |
0,77 |
0,48 |
|
Financial expenses |
2,41 |
0,86 |
1,56 |
|
Variation in financial investment
provision |
0,00 |
-0,01 |
0,01 |
|
Ordinary Activities
Result |
5,13 |
-0,00 |
5,13 |
|
Extraordinary income |
0,00 |
0,67 |
-0,67 |
|
Extraordinary expenses |
1,60 |
0,77 |
0,83 |
|
Variation in provision
in fixed assets |
0,00 |
0,95 |
-0,95 |
|
Results before Taxes |
3,53 |
-1,06 |
4,59 |
|
Corporaye taxes |
0,09 |
0,28 |
-0,19 |
|
Net Result |
3,45 |
-1,34 |
4,78 |
|
Assets depreciation |
1,65 |
3,52 |
-1,87 |
|
Provisions fund
variation |
-0,16 |
1,59 |
-1,75 |
|
Net Self-Financing |
4,94 |
3,78 |
1,16 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.002 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-16,00 |
-13,39 |
-3,39 |
6,28 |
|
Assets Turnover |
1,23 |
0,81 |
1,11 |
1,32 |
|
Fixed Assets Turnover |
4,32 |
2,32 |
4,63 |
6,59 |
|
Increase of the Added
Value |
-12,53 |
-20,94 |
-3,09 |
4,43 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,44 |
1,05 |
1,28 |
1,56 |
|
Change of Personnel
Costs |
-1,23 |
-4,84 |
1,05 |
8,81 |
|
Average Personnel Costs |
|
34.471,62 |
37.925,37 |
40.893,96 |
|
Value Added by Employees |
|
42.656,21 |
45.620,95 |
53.827,90 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
701.383,46 |
161.727,00 |
516.000,00 |
1.213.338,29 |
|
Operating Cash Flow |
1.105.971,32 |
57.641,39 |
521.180,00 |
806.778,33 |
|
Change in Cash Flow |
-47,23 |
-37,17 |
-18,36 |
0,28 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,35 |
-1,10 |
2,00 |
5,39 |
|
Financial Profitability |
6,66 |
-2,88 |
6,99 |
10,31 |
|
Financial Expenses |
2,08 |
0,67 |
0,84 |
1,05 |
|
Gross Economic
Profitability |
9,83 |
1,20 |
5,23 |
11,68 |
|
Gross Financial
Profitability |
15,05 |
2,45 |
14,23 |
20,99 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
89,00 |
98,35 |
121,54 |
135,07 |
|
Suppliers’ Credit (In
days of sales) |
|
89,43 |
111,71 |
190,92 |
|
Working Capital (In days
of sales) |
113,00 |
49,59 |
70,43 |
147,38 |
|
Working Capital
Requirement (In days of sales) |
48,00 |
38,50 |
70,95 |
97,06 |
|
Treasury (In days of
sales) |
65,00 |
-27,74 |
6,90 |
54,76 |
|
Operating Current Assets |
209,00 |
176,84 |
238,06 |
302,69 |
|
BALANCE |
|
|
|
|
|
Working Capital |
4.341.886,88 |
1.100.786,61 |
3.369.315,79 |
6.417.794,16 |
|
Working Capital
Requirement |
1.850.846,10 |
958.846,61 |
2.674.637,10 |
4.547.002,00 |
|
Treasury |
2.502.574,73 |
-813.059,99 |
280.687,87 |
1.588.051,86 |
|
Balance Ratio |
2,36 |
1,40 |
1,75 |
2,50 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
32,87 |
41,52 |
60,32 |
66,87 |
|
Own / Permanent Funds |
97,37 |
77,02 |
84,37 |
95,11 |
|
Payback Capacity |
0,26 |
0,38 |
0,41 |
0,52 |
|
Long term Indebtedness |
|
0,21 |
5,92 |
11,40 |
|
Gearing |
153,04 |
171,16 |
251,99 |
301,81 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
3,04 |
1,42 |
1,58 |
2,29 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
2,17 |
1,22 |
1,44 |
2,00 |
|
Immediate Liquidity |
0,68 |
0,07 |
0,14 |
0,30 |
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%)