Registered Name
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BIO SIDUS S.A.
CUIT: 30-59811709-4
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Summary
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INCORPORATED IN 1983. BEGINNER OF ACTIVITIES. BALANCE
SHEET AS OF 30/06/2006: POSITIVE (MODERATE) WITH A HIGH INDEBTEDNESS LEVEL.
IT DOESN'T REGISTER NEGATIVE. FIT FOR CREDITS IN ACCORDANCE WITH ITS
KNOWN ECONOMIC-FINANCIAL RESOURCES WITH THE ADOPTION OF APPROPRIATE
GUARANTEES.
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Operations
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INVESTIGATION
ELABORATION AND SALE OF BIOLOGICAL PRODUCTS
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Legal Structure
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Business type:
Public Limited Company
Incorporated:
29/07/1983
Registered: 07/10/1983
Registration:
Nº 7258, Book 98, Volume A
Duration: Until 06/10/2082
End of fiscal year: June 30th
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Contact
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Legal, Operative
and Administrative address: Constitución 4234 (1254), Buenos Aires City,
Argentine Republic.
Phone: (54-011) 4909-8000
Fax: (54-011) 4909-8007/8055
E-mail: post@biosidus.com.ar
Annexed Plant: Avda.Los Quilmes 115/137/139, Bernal Oeste, Buenos Aires
Province, Argentine Republic.
Warehouse: Tarija 4251, Buenos Aires City.
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Partners
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President:
ARGUELLES
UGARTEBURU MARCELO LUIS
Vice-president:
ARGUELLES IRMA DEL CARMEN
Director: BOSCOLO FERNANDO HECTOR
Director: GARCIA BELMONTE SANTIAGO LUIS
Alternate Director: FOTI JUAN SALVADOR
Regular Trustee: SPACECH HECTOR C.
Alternate Trustee: SHAPIRA CARLOS
The first two mentioned ones, as Managers, are in charge of the
management and administration of the company, with the use of the social
signature.
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Corporate Stock
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The company's corporate
stock is established in $ 140, which has been totally subscribed and paid
in. It is represented by common shares of par value $0,0001 each and with
5 votes per share.
SHAREHOLDERS:
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MARCELO LUIS ARGUELLES UGARTEBURU $ 35,00
IRMA DEL CARMEN ARGUELLES
$ 35,00
ESTELA AMELIA A DE GARCIA BELMONTE $ 35,00
SILVIA ROSARIO ARGUELLES DE BOSCOLO $ 35,00
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Personal Information
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ARGUELLES
UGARTEBURU MARCELO LUIS:
Argentinian, divorcé, born on 16/09/1946, DNI. 4.555.043, Marketing
Graduate, with address in Muñiz 456, Martínez.
He is registered in the following companies:
INSTITUTO SIDUS I.C.S.A.
President
S.D. SA.
President
PBM ARGENTINA S.A.
Vice-president
LASIFARMA S.A.
President
HIAM S.A.
President
AGROBOS S.A.
Alternate Director
VIMSA S.A.
President
TECNOVITAL S.A.
President
RUTH BENCAZAR GALERIA DE ARTE S.A.
Vice-president
TALLERES GRAFICOS SANTA FE S.A. Director
BIO SIDUS A.G. S.A.
ARGUELLES IRMA DEL CARMEN:
Mexican, born in 1940, LC. 4.740.638, businesswoman, with address in
Catamarca 2343, Olivos.
She is registered in the following companies:
* INSTITUTO SIDUS I.C.S.A. Vice-president
* S.D. SA.
Vice-president
* LASIFARMA S.A.
Vice-president
* HIAM S.A.
Vice-president
* CENTRO DE DIAGNOSTICO MOLECULAR Vice-president
BOSCOLO FERNANDO HECTOR:
Argentinian, businessman, born in 1945, LE. 4.435.375, with address in
J.Mora Fernández 2936, Buenos Aires City.
GARCIA BELMONTE SANTIAGO LUIS:
Argentinian, Administration Graduate, born in 1969, with address in
Gral.Pacheco 1700, UF.115, Don Torcuato.
FOTI JUAN SALVADOR:
Argentinian, businessman, born in 1936, DNI. 4.165.972, with address in
Arce 323, 5º piso, Buenos Aires City.
CRISCUOLO MARCELO EDUARDO:
Argentinian, Biochemist, born in 1952, DNI. 10.822.775, with address in
Guevara 349, Buenos Aires City.
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History
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The company was incorporated
by mid-1983 with the objective of performing its current activities,
operating nowadays in the previously exposed address.
It is related with the following companies:
SIDUS S.A.
SIDUS URUGUAY S.A.
SIDUS PARAGUAY S.A.
TECNOPLANT S.A.
TALLERES GRAFICOS SANTA FE S.A.
BIO SIDUS A.G. S.A.
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Economic-Financial
Position
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BALANCE SHEET AS OF
30/06/2006.
GENERAL STRUCTURE:
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CURRENT ASSETS
$ 77,563.410
NON-CURRENT ASSETS $ 63.681.258
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$
141.244.668
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CURRENT LIABILITIES
$ 82.640.358
NON-CURRENT LIAB.
$ 22.384.376
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$
105.024.734
NET WORTH
$ 36.219.934
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$
141,244.668
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SALES $ 73.521.276
FINAL PROFIT $ 4.171.112
2006 Sales decreased 13,3% in relation to 2005 and the final profit was
89,7% lower in relation to the previous one.
The final profit during 2006 was of 5,6% over sales, while in 2005 the
final result was 11,5%.
Exposed figures show a tight economic-financial situation and a decline
of the situation in relation with 2005.
However, it doesn't register negative elements and has stable
perspectives.
NET WORTH:
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PAID-IN CAPITAL $ 140,00
STOCK DIVIDENDS $
36,00
CAPITAL ADJUSTMENT
$1.056.538,00
PREMIUM OF MERGER
$1.924.875,00
STATUTORY RESERVE
$ 851.146,00
RETAINED EARNINGS $32.387.199,00
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$36.219.934,00
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Balance Sheet
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Balance Sheet/s
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30/06/2006
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30/06/2005
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30/06/2004
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Total Assets
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$ 141.244.668,00
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$ 114.321.117,00
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$ 108.241.517,00
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Current Assets
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$ 77.563.410,00
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$ 68.216.432,00
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$ 62.415.541,00
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Banks
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$ 7.929.333,00
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$ 2.993.306,00
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$ 2.858.688,00
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Accounts Receivables
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$ 48.249.272,00
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$ 46.516.169,00
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$ 44.802.788,00
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Inventory
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$ 17.830.207,00
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$ 12.233.961,00
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$ 9.741.128,00
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Fixed Assets
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$ 29.176.786,00
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$ 27.460.332,00
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$ 26.006.710,00
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Non-Current Assets
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$ 63.681.258,00
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$ 46.104.685,00
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$ 45.825.976,00
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Investments
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$ 22.541.882,00
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$ 1.322.439,00
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$ 0,00
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Total Liabilities
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$ 105.024.734,00
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$ 82.272.295,00
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$ 84.105.954,00
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Current Liabilities
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$ 82.640.358,00
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$ 52.711.830,00
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$ 37.077.230,00
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Non-Current Liabilities
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$ 22.384.376,00
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$ 29.560.465,00
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$ 47.028.724,00
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StockHolders Equity
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$ 36.219.934,00
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$ 32.048.822,00
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$ 24.135.563,00
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Net Sales
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$ 73.521.276,00
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$ 68.389.175,00
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$ 57.955.140,00
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Cost of Good Sold
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$ 43.363.341,00
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$ 35.266.173,00
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$ 29.925.849,00
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Gross Result
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$ 30.157.935,00
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$ 33.123.002,00
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$ 28.029.291,00
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Administrative Expenses
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$ 4.828.681,00
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$ 5.436.394,00
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$ 5.044.449,00
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Selling Expenses
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$ 4.213.084,00
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$ 3.373.715,00
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$ 4.223.108,00
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Financial Income
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$ 0,00
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$ 0,00
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$ 3.797.263,00
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Other Expenses
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$ -16.945.058,00
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$ -16.399.634,00
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$ -9.766.536,00
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Final Result
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$ 4.171.112,00
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$ 7.913.259,00
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$ 5.197.935,00
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Balance Sheet Analysis
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Indexes
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30/06/2006
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30/06/2005
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30/06/2004
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Current Ratio
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93,86 %
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129,41 %
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168,34 %
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Quick Ratio
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72,28 %
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106,20 %
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142,07 %
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Short Term Indebtedness
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228,16 %
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164,47 %
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153,62 %
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Debt to Equity Ratio
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289,96 %
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256,71 %
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348,47 %
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Long Term Assets to Total Assets
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45,09 %
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40,33 %
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42,34 %
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Fixed Assets to Equity
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80,55 %
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85,68 %
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107,75 %
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Total Assets to Total Liabilities
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134,49 %
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138,95 %
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128,70 %
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Debt Ratio
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74,36 %
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71,97 %
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77,70 %
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Equity Ratio
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25,64 %
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28,03 %
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22,30 %
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Investments to Assets Ratio
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12,62 %
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10,70 %
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9,00 %
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Current Investment
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54,91 %
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59,67 %
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57,66 %
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Stocks Aging Days
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150,08 días
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126,62 días
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118,81 días
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Day Sales
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239,54 días
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248,26 días
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282,17 días
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Trade Debtors To Assets
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34,16 %
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40,69 %
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41,39 %
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Total Assets Turnover
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52,05 %
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59,82 %
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53,54 %
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Net Worth Aging
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202,99 %
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213,39 %
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240,12 %
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Fixed Assets Aging
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251,99 %
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249,05 %
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222,85 %
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Gross Profit
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58,98 %
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51,57 %
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51,64 %
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Financial Expenses on Sales Ratio
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0,00 %
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0,00 %
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6,55 %
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Commercial Exp. on Sales Ratio
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5,73 %
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4,93 %
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7,29 %
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Administrative Exp. on Sales Ratio
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6,57 %
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7,95 %
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8,70 %
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Assets
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NET RESULTANT
VALUE: $ 29.176.786
MAIN ITEMS:
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Lands
$ 1.346.085
Buildings
13.427.478
Machineries
10.531.359
Facilities
2.085.749
Furniture and fixtures
1.226.248
THE COMPANY IS OWNER OF ALL THE PROPERTIES LOCATED IN THE PREVIOUSLY
EXPOSED ADDRESS.
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Parent/Related
Companies
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* SIDUS S.A.
* SIDUS URUGUAY S.A.
* SIDUS PARAGUAY S.A.
* TECNOPLANT S.A.
* TALLERES GRAFICOS SANTA FE S.A.
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Evolution and Results
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It is a
biotechnological company which is member of the Pharmaceutical Group
Sidus.
It has signed agreements of distribution of its product BLASTOFERON in
many countries.
It obtained a contract with the French company FLAMEL for the supply of
hormone of human growth and Interferon Beta.
During its fiscal year it received the audit and approval of its
manufacturing plant which allows it to sell its products in en Argelia.
In Marocco the product Epoetin Bio Sidus was approved and will be
launched soon.
The company signed in Mexico agreements for the supply of Filgrastim and
Interferon beta, semielaborated with the Mexican Lab Landsteiner
Scientific.
It started the sole supply of erythropoietin for the social security in
Tunisia due to the call to International Tender from Pharmacie Central of
Tunisie (PCT), Government entity of Tunisia. This product was also placed
in Vietnam.
With its current licensee for Ukraine, the Canadian company
Pharmascience, the extensions of the contracts for the incorporation of
the lands of Moldavia, Macedonia and Belarus.
It continued with the production project of genetically modified bovines
for obtaining human insulin in milk.
It has a plant with a covered surface of 7.000 sqm. highly equipped and
with human resources for carrying out processes of high technology.
Fits to highlight that its Plant of Biotechnological Investigation,
Development and Production has specific areas of biological security
highly controlled and equipped for carrying out high-performance operations.
Its productive infrastructure includes areas used for processes of
bacterial fermentation, mass cultivation of mammalian cells.
It also has a place full of cages for the breeding of different stumps of
mice and rabbits. Due to this structure it can make many tests and
produce monoclonal antibodies.
The process of formulation, division, freeze drying and packaging of
different products are carried out in the plant located in Bernal, Buenos
Aires Province.
FOREIGN TRADE:
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In the last twelve months it has carried out imports for a total value of
US$ 2.442.706 from the following countries:
USA
1.079.552
CHINA
631.051
MEXICO
347.943
OTHERS 384.160
In the same period of time it has carried out exports for a total value
of US$ 5.516.687 to the following countries:
INDIA PAKISTAN
BRAZIL MAROCCO
VIETNAM FRANCE
MALTA PANAMA
CANADA BOLIVIA
PARAGUAY URUGUAY
THAILAND GUATEMALA
COLOMBIA MEXICO
PERU
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Payment Record and Credit
Risk
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BANKS:
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BANCO DE LA NACION ARGENTINA Branch: Olivos
- Current Account Nº 280.241-95
BANCO MACRO BANSUD
Branch Sante Fe
- Current Account Nº 09-10087-6-01
BBVA BANCO FRANCES
Branch:
Pueyrredon - Current Account Nº 27/5485-4
HSBC BANK ARGENTINA
Branch: Olivos
- Current Account Nº 0800-00090-9
BANQUE NATIONALE DE PARIS Principal Office - Current
Account Nº 10254-01
BANCO DE LA NACION ARGENTINA Branch: 001
- Current Account Nº 32911/86
CREDIT RISK:
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August/2007
BANCO DE GALICIA $ 13.962.500 Situation 1
BANCO MACRO 12.656.200 Situation 1
BANCO STANDARD 12.233.800
Situation 1
BANCO NACION 8.214.000 Situation 1
BANCO FRANCES 1.995.900
Situation 1
BANCO SUPERVIELLE 1.064.100 Situation 1
Situation 1: Normal Fulfillment.
INSURANCE:
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Insurance policies with local companies for general risks.
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Concept
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According to our
consultations, it complies in due time the commitments taken and has a
good concept.
* WELL QUALIFIED COMPANY
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Final Opinion
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What has been
exposed hereby is all as regards this company. We consider feasible its
credit treatment by amounts in accordance with its known
economic-financial resources with the adoption of appropriate guarantees.
* FIT FOR CREDITS IN ACCORDANCE WITH ITS KNOWN RESOURCES WITH THE
ADOPTION OF APPROPRIATE GUARANTEES
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