MIRA INFORM REPORT

 

 

Report Date :

01.11.2007

 

IDENTIFICATION DETAILS

 

Name :

RADEČE PAPIR PROIZVODNJA, TRGOVINA IN STORITVE, D.D.

 

 

Registered Office :

Njivice 7, 1433 Radeče

 

 

Country :

Slovenia

 

 

Date of Incorporation :

25.11.1974

 

 

Com. Reg. No.:

10031900

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of paper and paperboard.

 

 

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 :

Exists


COMPANY REPORTED

 

 

 

RADEČE PAPIR PROIZVODNJA, TRGOVINA IN STORITVE, D.D.

 

Principal Address


NJIVICE 7
1433 RADEČE
Slovenia
Tel: +386-3-568 05 00
Fax: +386-3-568 05 01
Email: info@radecepapir.si
Internet: http://www.radecepapir.si

 

Principal Address


NJIVICE 7
1433 RADEČE
Slovenia
savinjska

 

 

ICON number

 

554120

 

 

National ID

 

5039711

 

 

Tax number

 

49636081

 

 

VAT number

 

SI49636081

 

 

Activity status

 

13.09.2007 - 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

 


 

 

 

 

Payment Practices:

Payments are made irregularly.

 


 

 

Further Rating Information:

Researched company is categorized as a big company.
Turnover volume of EUR 47.260.950 in the year 2006 increased by 13,76% compared with 2005.
Fixed assets decreased by EUR 406.041 and now 57,06% of total assets.

Cash flow from results of EUR 2.727.829 increased by 1.476,14% compared with last year result.

 


 

 

Debt Collection:

CHF 40.918,60 (Invoice date: 15.12.2000)
Status: closed positive (31.05.2001)

ATS 195.000,00 (Invoice date: 02.12.1998)
Status: closed positive (19.07.2002)

SEK 99.774,00 (Invoice date: 31.01.1998)
Status: closed positive (19.07.2002)

ATS 171.275,00 (Invoice date: 20.07.2000)
Status: closed positive (30.04.2001)

EUR 60.598,37 (Invoice date: 14.12.2004)
Status: closed positive (27.07.2005) - whole amount paid, debtor refuses to pay expenses and fees
Case received on: 10.06.2005

Only cases with a single case volume exceeding EUR 500 are shown.

 

 

 

COMPANY DETAILS

 



 

 

Established:

25.11.1974

 


 

 

Registration:

No. 10031900
25.11.1974
LJUBLJANA, Slovenia

 


 

 

Legal Form:

joint stock company

 


 

 

History:

1999: A change into joint-stock company.

 


 

 

Capital:

EUR 6.041.103,00

 


 

 

Shareholders:

Full Name

Function

Address

Equity

G - M & M, PROIZVODNJA IN MARKETING D.O.O.
Registration: No. 12458300, 24.09.1993, LJUBLJANA, Slovenia

Shareholder

BRVACE 11
1290 GROSUPLJE
Slovenia

100,00%



Shareholders on 31.08.2007.

 


 

 

Management:

Full Name

Function

Address

OCVIRK ANDRO
Nationality: SI
26.09.2006 - Present

Executive Director

Slovenia


Representative company is in: Zagreb (Croatia)

 


 

 

Related Companies:

Daughter company
RADEČE PAPIR MUFLON, DRUŽBA ZA USPOSABLJANJE IN ZAPOSLOVANJE INVALIDOV D.O.O.
1433 RADEČE, TITOVA ULICA 99
Equity: 100,00%

Shareholder of
SLOVENIJA PAPIR TRGOVINA, D.O.O., IZVOZ, UVOZ, ZASTOPSTVA TUJIH FIRM IN TRŽENJE
1433 RADEČE, NJIVICE 7
Equity: 33,69%

 

 

 

KEY DATA ON OPERATIONS

 



 

 

Subject of Operation:

NACE
  2112 Manufacture of paper and paperboard

- production of paper
- production of other products made of paper
- graphic activity
- import and export

 


 

 

Company Development:

Satisfactory business development

 

 

 

 

Key Data

 

Amounts shown in Euro (EUR)

 

2006

2005

2004

2003

TURNOVER

47.260.950

41.542.804

41.611.248

44.961.145

FIXED ASSETS

20.102.512

20.508.553

21.770.158

19.382.864

EQUITY CAPITAL

11.310.566

11.527.797

14.061.078

15.032.289

FINANCIAL AND OPERATING LIABILITIES

23.903.585

22.385.118

20.114.239

16.641.646

NET PROFIT FOR THE PERIOD

0

0

0

1.594.740

NET LOSS FOR THE PERIOD

168.912

2.587.675

603.316

0

Operating result - profit

0

0

0

1.846.734

Operating result - loss

1.179.277

2.282.113

534.046

0

 

 

2006

2005

2004

2003

Return on Assets (ROA), %
Net result *100 / Total Assets

-0,48

-7,63

-1,77

5,03

Return on Equity (ROE), %
Net result *100 / Total Equity

-1,49

-22,45

-4,29

10,61

 


 

 

Workforce:

 

2007

2006

2005

2004

Total workforce

327

334

340

343

 


 

 

Motor Vehicles:

 

2007

2006

Number of cars

owned: 9

owned: 9

Total number of vehicles

9

9

 


 

 

Imports:

Austria

Switzerland

Czech Republic

Germany

Greece

Italy

Romania

 


 

 

Exports:

 

Austria

Germany

Egypt

Greece

India

Italy

Middle East

 


 

 

Major Customers:

Data are not available.

 


 

 

Major Suppliers:

Data are not available.

 


 

 

Real Estate:

built upon
Address:
NJIVICE 7
1433 RADEČE
Slovenia

Type of ownership: owned

 

 

 

FINANCIAL INFORMATION

 



 

 

Financials:

Amounts shown in Euro (EUR)  

2006

2005

2004

2003

 

TOTAL ASSETS

35.230.124,00

33.912.915,00

34.175.734,00

31.673.934,00

 

FIXED ASSETS

20.102.512,00

20.508.553,00

21.770.158,00

19.382.864,00

 

Intangible fixed assets

577.391,00

549.747,00

114.439,00

171.076,00

 

Tangible fixed assets

15.936.367,00

18.993.387,00

20.714.515,00

18.403.466,00

 

Investment property measured at the cost model

0,00

 

 

 

 

Long-term investments

3.574.362,00

965.420,00

941.204,00

808.322,00

 

Long-term investments, excluding Loans

3.502.913,00

 

 

 

 

Long term loans

71.449,00

 

 

 

 

Operating Receivables

9.160.407,00

7.565.524,00

6.982.990,00

6.919.431,00

 

Long-term operating receivables

14.392,00

15.102,00

16.059,00

20.297,00

 

Deferred tax assets

0,00

 

 

 

 

CURRENT ASSETS

15.043.707,00

13.334.300,00

12.376.829,00

12.208.603,00

 

Non-current assets (disposal groups) for sale

0,00

 

 

 

 

Inventories

5.450.785,00

5.452.342,00

5.065.282,00

4.827.942,00

 

Short-term investments

0,00

0,00

0,00

52.115,00

 

Short term investments, excluding loans

0,00

 

 

 

 

Short term loans

0,00

 

 

 

 

Short-term operating receivables

9.146.015,00

7.550.422,00

6.966.931,00

6.899.134,00

 

Bank balance, cheques and cash on hand

446.908,00

316.435,00

328.556,00

409.117,00

 

DEFERRED COSTS AND ACCRUED REVENUES

83.905,00

70.061,00

28.747,00

82.466,00

 

Off-balance sheet assets

12.205.855,00

12.209.136,00

8.496.815,00

9.216.478,00

 



LIABILITIES

 

TOTAL LIABILITIES

35.230.124,00

33.912.915,00

34.175.734,00

31.673.934,00

 

EQUITY CAPITAL

11.310.566,00

11.527.797,00

14.061.078,00

15.032.289,00

 

Called capital

6.041.103,00

6.042.727,00

6.038.508,00

6.236.166,00

 

Share capital

6.041.103,00

6.042.727,00

6.038.508,00

6.236.166,00

 

Uncalled capital (as deduction item)

0,00

0,00

0,00

0,00

 

Capital Surplus

3.694.479,00

2.489.669,00

2.487.931,00

2.400.242,00

 

Reserves

3.439.985,00

3.440.910,00

3.438.507,00

3.482.855,00

 

Revaluation surplus

0,00

 

 

 

 

Net profit or loss from previous periods

-1.696.090,00

0,00

891.171,00

117.901,00

 

Net profit for the period

0,00

0,00

0,00

1.574.623,00

 

Net loss for the period

168.912,00

1.696.546,00

0,00

0,00

 

Capital revaluation adjustments

 

1.251.037,00

1.204.961,00

1.220.502,00

 

PROVISIONS AND LONG-TERM ACCRUED COSTS AND DEFFERED REVENUE

0,00

 

 

 

 

PROVISIONS

0,00

0,00

0,00

0,00

 

Long-term accrued costs and deffered revenue

0,00

 

 

 

 

FINANCIAL AND OPERATING LIABILITIES

23.903.585,00

22.385.118,00

20.114.239,00

16.641.646,00

 

LONG-TERM FINANCIAL AND OPERATING LIABILITIES

6.925.810,00

9.691.818,00

5.619.897,00

3.778.778,00

 

Long-term financial liabilities

6.863.792,00

 

 

 

 

Long-term operating liabilities

62.018,00

 

 

 

 

Deferred tax receivables

0,00

 

 

 

 

SHORT-TERM FINANCIAL AND OPERATING LIABILITIES

16.977.775,00

12.693.300,00

14.494.342,00

12.862.868,00

 

Liabilities of disposal groups

0,00

 

 

 

 

Short-term financial liabilities

6.239.342,00

 

 

 

 

ACCRUED COSTS AND DEFERRED REVENUES

15.974,00

0,00

417,00

0,00

 

Off-balance sheet liabilities

12.205.855,00

12.209.136,00

8.496.815,00

9.216.478,00

 



PROFIT AND LOSS

 

TURNOVER

47.260.950,00

41.542.804,00

41.611.248,00

44.961.145,00

 

OPERATING INCOME

45.305.608,00

41.072.743,00

40.820.802,00

43.722.774,00

 

NET SALES

44.486.017,00

39.978.956,00

40.099.702,00

43.398.184,00

 

Net sales revenues from domestic market

12.072.179,00

11.582.931,00

12.659.191,00

14.152.466,00

 

Net sales revenues from EU market

21.267.622,00

 

 

 

 

Net sales revenues from foreign market

N/A

28.396.025,00

27.440.512,00

29.245.718,00

 

CHANGES IN INVENTORIES OF FINISHED GOODS AND WORK-IN-PROGRESS

-137.974,00

601.484,00

248.927,00

148.457,00

 

CAPITALIZED OWN PRODUCTS

131.234,00

483.940,00

402.870,00

0,00

 

OTHER OPERATING REVENUE

826.331,00

8.363,00

69.304,00

176.133,00

 

TOTAL EXPENSES

47.429.861,00

44.130.479,00

42.214.565,00

43.358.703,00

 

OPERATING EXPENSES

46.484.886,00

43.354.856,00

41.354.848,00

41.876.040,00

 

Costs of goods, material and services

38.173.176,00

35.532.128,00

33.592.590,00

34.451.767,00

 

Cost of goods, materials sold and costs of materials used

34.542.259,00

32.028.079,00

29.927.288,00

30.038.977,00

 

Costs of services

3.630.917,00

3.504.048,00

3.665.301,00

4.412.791,00

 

Labour costs

5.116.708,00

4.804.552,00

5.032.680,00

4.641.823,00

 

Costs of wages and salaries

3.757.670,00

3.489.163,00

3.628.686,00

3.339.367,00

 

Costs of pension insurance

0,00

 

 

 

 

Social insurance costs

 

705.279,00

739.797,00

683.748,00

 

Other labour costs

639.559,00

610.110,00

664.197,00

618.709,00

 

Depreciation and amortization costs

2.896.741,00

2.760.745,00

2.424.628,00

2.538.210,00

 

Depreciation

2.646.674,00

2.649.540,00

2.312.676,00

2.356.925,00

 

Revaluatory operating expenses from intangible and tangible fixed assets

234.268,00

22.993,00

82.462,00

140.481,00

 

Revaluatory operating expenses from current operating assets

15.799,00

88.213,00

29.490,00

40.804,00

 

Other operating expenses

298.260,00

257.431,00

304.951,00

244.240,00

 

OPERATING RESULT - PROFIT

0,00

0,00

0,00

1.846.734,00

 

OPERATING RESULT - LOSS

1.179.277,00

2.282.113,00

534.046,00

0,00

 

Financial revenues

399.094,00

196.126,00

617.739,00

980.948,00

 

Financial revenues from equity capital interests

0,00

0,00

187.623,00

375.346,00

 

Financial revenues from long-term receivables

 

1.644,00

1.428,00

1.553,00

 

Financial revenues from short-term receivables

 

194.531,00

427.112,00

596.429,00

 

Financial revenue from loans

29,00

 

 

 

 

Financial revenues from operating receivables

399.065,00

 

 

 

 

Financial expenses

879.649,00

770.494,00

830.000,00

1.249.689,00

 

FINANCIAL EXPENSES FOR LONG-TERM AND SHORT-TERM INVESTMENT WRITE-OFFS

 

280.491,00

0,00

0,00

 

Financial expenses for impairment and write-off's

0,00

 

 

 

 

Financial expenses from financial liabilities

534.093,00

 

 

 

 

Financial expenses from operating liabilities

345.556,00

 

 

 

 

Interest expenses and financial expenses for other liabilities

 

490.003,00

830.000,00

1.249.689,00

 

NET PROFIT FROM ORDINARY ACTIVITIES

 

0,00

0,00

1.577.993,00

 

NET LOSS FROM ORDINARY ACTIVITIES

 

2.856.482,00

746.307,00

0,00

 

EXTRAORDINARY REVENUES

1.556.247,00

273.935,00

172.707,00

257.423,00

 

EXTRAORDINARY EXPENSES

65.327,00

5.129,00

29.716,00

232.974,00

 

INCOME TAX

0,00

0,00

0,00

7.702,00

 

OTHER TAXES

 

0,00

0,00

0,00

 

DEFFERED TAXES

0,00

 

 

 

 

NET PROFIT FOR THE PERIOD

0,00

0,00

0,00

1.594.740,00

 

NET LOSS FOR THE PERIOD

168.912,00

2.587.675,00

603.316,00

0,00

 

RETAINED NET PROFIT FROM PREVIOUS PERIODS

0,00

891.565,00

1.497.777,00

119.407,00

 

RETAINED NET LOSS FROM PREVIOUS PERIODS

1.696.090,00

0,00

0,00

0,00

 

DECREASE OF CAPITAL RESERVES

0,00

0,00

0,00

0,00

 

DECREASE OF PROFIT RESERVES

0,00

0,00

0,00

0,00

 

INCREASE OF PROFIT RESERVES

0,00

0,00

0,00

0,00

 

BALANCE SHEET AVAILABLE PROFIT

0,00

0,00

894.460,00

1.714.148,00

 

BALANCE SHEET UNCOVERED LOSS

1.865.002,00

1.696.110,00

0,00

0,00

 


 

 

Investments:

2006: equipment
2005: equipment
2004: machines (4.500.000 EUR)

 


 

 

Bankers:

ABANKA VIPA D.D. - Account no. 05100-8000018713
1000 LJUBLJANA, SLOVENSKA CESTA 58

NOVA KREDITNA BANKA MARIBOR D.D. - Account no. 04515-0001169358
2000 MARIBOR, ULICA VITA KRAIGHERJA 4

SKB BANKA D.D. LJUBLJANA - Account no. 03118-1000119852
1000 LJUBLJANA, AJDOVŠČINA 4

 

 

 

 

Ratios

 

2006

2005

2004

2003

Quick ratio
(Current assets-Inventory)/Current liabilities

0,57

0,62

0,50

0,57

Current ratio ( CR )
Current assets / Current liabilities

0,89

1,05

0,85

0,95

Return on Sales (ROS), %
Net result *100 / Sales

-0,38

-6,47

-1,50

3,67

Return on Assets (ROA), %
Net result *100 / Total Assets

-0,48

-7,63

-1,77

5,03

Return on Equity (ROE), %
Net result *100 / Total Equity

-1,49

-22,45

-4,29

10,61

Cash ratio
Cash / Current liabilities

0,89

1,05

0,85

0,95

Inventory rotation (in days)
(Inventory / Sales) * 365

44,72

49,78

46,11

40,61

Collection Period (in days)
Accounts Receivable *365 / Sales

75,16

69,07

63,56

58,20

Days purchase in payables
Current Liabilities / Turnover * 360 days

131,12

111,52

127,14

104,42

Sales to Total Assets
Sales / Total assets

1,26

1,18

1,17

1,37

Debt Ratio
Liabilities / Total Assets

0,68

0,66

0,59

0,53

Leverage
Long Term Liabilities / Total Equity

0,61

0,84

0,40

0,25

 



ADDITIONAL INFORMATION

 



 

 

Contact With Company:

Mrs Marinka Grošičar und Mrs Melita Bunderšek

 


 

 

Additional information:

Priority research company: 1
Number of founders: 5

 


 

 

Certificates:

ISO 9001:2000

 


 

 

Short Company name:

RADEČE PAPIR, D.D.

 

 


 

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