MIRA
INFORM REPORT
|
Report Date : |
07.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
NECK CHILD SA |
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Registered Office : |
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Country : |
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Financials (as on) : |
28.02.2006 |
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Date of Incorporation : |
14/07/1998 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of textiles |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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|
Payment Behaviour : |
No Complaints |
Identification and
Characteristics
|
Tax Number |
A92016344 |
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NAME |
NECK CHILD SA |
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TRADE NAME |
NECK & NECK |
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BUSINESS
ADDRESS |
CALLE |
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Postcode |
28830 SAN FERNANDO DE HENARES
( |
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FORMER
ADDRESS |
CALLE EDISSON, 7 |
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Postcode |
29006 |
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URL |
http://www.neckandneck.com |
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TELEPHONE |
916781830 |
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FAX |
916781624 |
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LEGAL FORM |
JOINT STOCK COMPANY |
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DATE FOUNDED |
14/07/1998 |
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CAPITAL |
5.583.149,60 Euros |
|
PAID-UP CAPITAL |
5.583.149,60 Euros |
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NUMBER OF
EMPLOYEES |
235 |
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ACTIVITY |
1617100 - Wholesale of textiles |
|
CNAE |
5141 - Wholesale of textiles |
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EXPORT COMPANY |
YES |
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IMPORT COMPANY |
YES |
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* Characteristics of the main address |
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According to our investigations these
premises are rented used
as office, shop, warehouse . |
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Synthesis
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FINANCIAL SITUATION (Year
ending: 28/02/2006) |
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PROFITABILITY |
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Nil |
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TREASURY |
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Very good |
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BALANCE SHEET |
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Excellent |
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DEBT |
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Medium |
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INCIDENTS |
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COMMITMENTS |
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Respected |
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INCIDENTS |
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None or Negligible |
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PREVIOUS EXPERIENCE |
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PREVIOUS
EXPERIENCE |
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Very favourable |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 549.000,00
Max. Euros |
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SOLVENCY RATING: |
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(BASED ON HOMOGENEOUS FORMULATION) |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Balance
sheet 2.006 (12) |
%
Sales |
|
|
SALES |
20.362.064,68 |
23.260.756,50 |
25.581.437,14 |
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|
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ADDED VALUE |
5.555.932,20 |
6.354.335,82 |
7.369.984,31 |
28,81 |
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BUSINESS RESULT |
138.357,68 |
172.220,43 |
164.180,47 |
0,64 |
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|
OWN FUNDS |
5.853.943,24 |
6.026.163,67 |
6.190.344,14 |
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|
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DEBT |
12.688.768,95 |
15.043.448,28 |
16.593.105,26 |
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|
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TOTAL ASSET |
18.542.712,19 |
21.069.611,95 |
22.783.449,40 |
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The sales of 25.581.437,14
Euros show a change of 9,98% compared with
2.005 . Between 2.004 and 2.005 , this
change was 14,24% . |
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Added value grew by 15,98%
compared with the previous year. Shareholders equity are 6.190.344,14
Euros for an indebtedness of 16.593.105,26
Euros . |
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The result 164.180,47
Euros means financial profitability of 2,65% and
economic profitability of 0,72% . This result means growth of
-4,67% compared with the 2.005 . |
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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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Results Distribution |
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Annual Report Year Source: 2.006 |
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Figures given in Euros |
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Distribution Base |
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Profit and Loss |
164.180 |
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Total of Amounts to be
distributed |
164.180 |
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Distribution a |
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Retained earnings |
16.418 |
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Carry Over |
147.762 |
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Auditors’ opinion: |
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FAVOURABLE (2.006) |
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Auditors: |
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AEA AUDITORES DE EMPRESAS ASOCIADOS SA |
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Comparative Sector
Analysis
|
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Company |
Sector |
Difference |
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|
(2.006)
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% of PRODUCTION VALUE |
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|
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SALES |
100,00 |
98,63 |
1,37 |
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ADDED
VALUE |
28,81 |
15,42 |
13,39 |
|
BUSINESS
RESULT |
0,64 |
3,16 |
-2,52 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
27,17 |
39,60 |
-12,43 |
|
DEBT |
72,83 |
60,40 |
12,43 |
Compared sector (CNAE): 514 - Comercio al por
mayor de productos de consumo, distinto de los alimenticios
Number of companies: 623
Size (Sales Figure): 7.000.000,00 -
40.000.000,00 Euros
The turnover of the company is 1,37%
above the mean for the sector.
The company’s added value was 28,81%
s/ the production value, and 13,39% above the mean for the sector.
The company’s business result was
0,64% of the PV, 2,52% below the mean for the sector.
The company’s own resources are 27,17%
, 12,43% below the mean for the sector.
The company’s outside resources are
72,83% , 12,43% above the mean for the sector.
Legal Actions
|
No legal incidences registered for this
company in the official source |
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CLAIM FILED AGAINST THE
ADMINISTRATION: 4 |
( First 05/12/2001,
Last 26/05/2005 ) |
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1 |
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0 |
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3 |
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AFFECTED BY: No significant elemento |
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With
the Social Security:
|
Last claim filed against the
administration |
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(Figures given in Euros) |
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With the Social Security: 1 |
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Information Date |
Organization |
Amount |
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16/12/2002 |
CENTRAL TREASURY FOR SOCIAL SECURITY |
2.973,05 |
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Rest of Organisms: 3 |
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Information Date |
Organization |
Amount |
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26/05/2005 |
TOWN/ CITY HALL DE |
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03/12/2004 |
DEPUTATION/ DELEGATION PROVINCIAL DE
SEVILLA |
406,20 |
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Information Date |
Organization |
Amount |
|
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|
05/12/2001 |
TOWN/ CITY HALL DE |
685,92 |
|
Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
CHAIRMAN |
ZAMACOLA MILLET JOSE ENRIQUE |
21/01/2004 |
|
BOARD MEMBER |
ZAMACOLA BALLESTERO EDUARDO |
21/01/2004 |
|
BOARD MEMBER |
POLIGONO 18 SL |
21/01/2004 |
|
BOARD MEMBER |
DE RIVERA MENDIZABAL FRANCISCO JAVIER |
21/01/2004 |
|
BOARD MEMBER |
INMOBILIARIA JERRY SA |
21/01/2004 |
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SECRETARY |
SAMPEDRO CAYON |
08/05/2007 |
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AUDITOR |
AEA AUDITORES DE EMPRESAS ASOCIADOS SA |
02/08/2006 |
Functional Managers
|
Position |
Surname and name |
|
GENERAL MANAGER |
ZAMACOLA BALLESTERO EDUARDO |
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GENERAL MANAGER |
ZAMACOLA MILLET JOSE ENRIQUE |
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FINANCIAL MANAGER |
DE RIVERA JAVIER |
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COMMERCIAL MANAGER |
ZAMACOLA EDUARDO |
|
MARKETING MANAGER |
LOZANO PEDRO |
Financial Links
|
Shareholders |
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Company Name |
CIF/Country |
|
Source |
Information Date |
|
POLIGONO 18 S.L. |
B79218665 |
65,29% |
OWN SOURCES |
22/08/2007 |
|
INMOBILIARIA JERRY SL |
B78685039 |
Indet. |
OWN SOURCES |
22/08/2007 |
|
HERRERO JOSE LUIS |
|
Indet. |
OWN SOURCES |
22/08/2007 |
|
ARRESE CHAUTON JOSE |
|
Indet. |
OWN SOURCES |
22/08/2007 |
|
REDWWOD INVESTMENTS |
PAÍSES DIVERSOS |
Indet. |
OWN SOURCES |
22/08/2007 |
|
TOURINVEST AG |
PAÍSES DIVERSOS |
Indet. |
OWN SOURCES |
22/08/2007 |
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Appointments |
13/06/2007 |
320856 |
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Appointments |
22/05/2007 |
275203 |
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Resignations |
08/05/2007 |
250813 |
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Appointments |
08/05/2007 |
250813 |
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Registration of accounts
(2006) |
04/01/2007 |
004574 |
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Brands, Signs and
Commercial Names
|
Prevailing Brands |
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Name: |
N & N |
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Kind of Brand: |
JOINT |
File: |
M2750708 |
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Request Date: |
19/01/2007 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
REGISTER REQUEST |
|
Types: 18
25 35 |
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Name: |
NECK BABY |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2238679 |
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Request Date: |
03/06/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 3
|
|
||||
|
Name: |
NECK BABY |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2238681 |
||
|
Request Date: |
03/06/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 25
|
|
||||
|
Name: |
NECK BABY |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2238682 |
||
|
Request Date: |
03/06/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 28 |
|
||||
|
Name: |
NECK SPORT |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2238683 |
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|
Request Date: |
03/06/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 3
|
|
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Total Marcas: 9
Branches
|
Address |
Postal Code |
Town |
Province |
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|
29660 |
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Commercial Experience |
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|
General Information |
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Foundation Year 1993 |
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PURCHASES |
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Imports:: |
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|
SALES |
||
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Collection (estimated) |
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|
Credit sales percentage
100 % |
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|
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Exports:: |
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MEJICO,SUIZA,FRANCIA |
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|
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|
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Suppliers |
International |
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|
TELA MARINERA |
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|
|
|
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Total 1 |
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Bank Entities
|
Entity |
|
|
Town |
|
|
BANCO SANTANDER
CENTRAL HISPANO, S.A. |
|
|
|
|
|
BANCO BILBAO
VIZCAYA ARGENTARIA, S.A. |
|
|
SAN FERNANDO DE
HENARES |
|
|
BANCO ESPAŃOL DE
CREDITO, S.A. |
|
|
SAN FERNANDO DE
HENARES |
|
|
BANCO ZARAGOZANO |
|
|
SAN FERNANDO DE
HENARES |
|
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 05/01/2007
Balance Sheet
(ASSETS)
|
(Figures given in Euros) |
28/02/2004 (12)
|
28/02/2005 (12)
|
28/02/2006 (12)
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
4.221.275,43 |
5.579.274,03 |
6.346.767,08 |
|
|
I. Establishment expenses |
168.410,63 |
185.965,33 |
181.632,18 |
|
|
II. Intangible assets |
2.115.499,90 |
2.497.100,25 |
2.990.496,14 |
|
|
Concessions, patents,licences , trademarks |
47.043,22 |
45.198,89 |
50.646,00 |
|
|
Goodwill |
2.370.712,63 |
2.473.712,63 |
2.867.417,32 |
|
|
Acquired rights from finance leases |
610.027,60 |
742.249,42 |
805.046,42 |
|
|
Software |
298.118,17 |
385.756,77 |
737.544,39 |
|
|
Leasing |
302.189,50 |
732.015,94 |
946.986,55 |
|
|
Amortization |
-1.512.591,22 |
-1.881.833,40 |
-2.417.144,54 |
|
|
III. Tangible assets |
1.636.634,63 |
2.433.827,56 |
2.551.581,10 |
|
|
Machinery, equipment and other |
2.381.392,98 |
3.558.907,76 |
4.313.928,63 |
|
|
Other property plant and equipement |
442.185,16 |
512.146,31 |
513.746,26 |
|
|
Other assets |
403.299,17 |
541.736,62 |
568.167,52 |
|
|
Depreciation |
-1.590.242,68 |
-2.178.963,13 |
-2.844.261,31 |
|
|
IV. Financial assets |
300.730,27 |
462.380,89 |
623.057,66 |
|
|
Shares in affiliated companies |
9.335,00 |
75.291,29 |
202.791,29 |
|
|
Securities |
15.745,31 |
15.745,31 |
5.745,31 |
|
|
Long term deposits and guarantees |
275.649,96 |
371.344,29 |
414.521,06 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
7.129,05 |
29.095,93 |
19.951,23 |
|
|
D) CURRENT ASSETS |
14.314.307,71 |
15.461.241,99 |
16.416.731,09 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
6.782.092,16 |
7.205.874,50 |
6.318.240,88 |
|
|
Goods available for sale |
8.010.664,17 |
9.066.612,56 |
8.700.507,11 |
|
|
Provisions |
-1.228.572,01 |
-1.860.738,06 |
-2.382.266,23 |
|
|
III. Debtors |
6.366.850,63 |
6.778.199,87 |
8.548.042,58 |
|
|
Clients |
6.357.756,81 |
6.769.349,78 |
8.533.787,98 |
|
|
Other debts |
5.000,00 |
6.246,51 |
8.164,00 |
|
|
Labor costs |
2.403,58 |
2.603,58 |
3.803,58 |
|
|
Taxes refunds |
1.690,24 |
|
2.287,02 |
|
|
IV. Short term financial assets |
|
1.228.673,14 |
1.113.727,34 |
|
|
Receivables in affiliated companies |
|
1.228.673,14 |
1.113.727,34 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
1.069.837,80 |
248.494,48 |
376.236,58 |
|
|
VII. Prepaid expenses and accrued income |
95.527,12 |
|
60.483,71 |
|
|
ASSETS (A + B + C + D) |
18.542.712,19 |
21.069.611,95 |
22.783.449,40 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
28/02/2004 (12)
|
28/02/2005 (12)
|
28/02/2006 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
5.853.943,24 |
6.026.163,67 |
6.190.344,14 |
|
|
I. Capital |
5.583.149,60 |
5.583.149,60 |
5.583.149,60 |
|
|
II. Premium share account |
112.282,30 |
112.282,30 |
112.282,30 |
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
26.159,66 |
39.394,83 |
56.616,87 |
|
|
Retained earnings |
26.159,66 |
39.394,83 |
56.616,87 |
|
|
V. Prior year earnings |
-6.006,00 |
119.116,51 |
274.114,90 |
|
|
Carry over |
|
119.116,51 |
274.114,90 |
|
|
Prior years losses |
-6.006,00 |
|
|
|
|
VI. Prior year profit or losses |
138.357,68 |
172.220,43 |
164.180,47 |
|
|
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 |
2.495.620,56 |
4.022.392,97 |
3.836.345,23 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
1.471.304,71 |
2.960.362,56 |
2.765.758,42 |
|
|
Long term bank loans |
1.471.304,71 |
2.960.362,56 |
2.765.758,42 |
|
|
III. Debts with associed and affiliated companies |
|
|
|
|
|
IV. Other creditors |
1.024.315,85 |
1.029.651,87 |
1.038.208,27 |
|
|
Other debts |
1.021.720,58 |
1.021.720,58 |
1.021.720,58 |
|
|
Long term deposit and guaranties |
2.595,27 |
7.931,29 |
16.487,69 |
|
|
V. Deferred debts on shares |
|
32.378,54 |
32.378,54 |
|
|
Affiliated companies |
|
32.378,54 |
32.378,54 |
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
10.193.148,39 |
11.021.055,31 |
12.756.760,03 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
4.025.071,28 |
3.236.753,68 |
6.240.082,41 |
|
|
Loans and other debts |
4.025.071,28 |
3.236.753,68 |
6.240.082,41 |
|
|
III. Short term debts with associated and
affiliated companies |
|
|
|
|
|
IV. Trade creditors |
5.474.322,73 |
6.855.952,80 |
5.644.463,98 |
|
|
Expenses |
1.542.895,53 |
2.375.206,45 |
1.778.870,34 |
|
|
Bills payable |
3.931.427,20 |
4.480.746,35 |
3.865.593,64 |
|
|
V. Other non trade payables |
693.754,38 |
928.348,83 |
872.213,64 |
|
|
Government |
421.416,75 |
558.483,69 |
692.845,10 |
|
|
Other debts |
32,15 |
|
17,17 |
|
|
Accounts receivable |
272.305,48 |
369.865,14 |
179.351,37 |
|
|
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) |
18.542.712,19 |
21.069.611,95 |
22.783.449,40 |
Profit and Loss
Account
|
(Figures given in Euros) |
28/02/2004 (12)
|
28/02/2005 (12)
|
28/02/2006 (12)
|
|
|
|
A) EXPENSES (A.1 a A.16) |
20.566.780,81 |
24.242.541,49 |
25.500.493,46 |
|
|
A.1. Change in stocks of finished goods and
work in progress |
|
|
366.105,45 |
|
|
A.2. Supplies |
9.894.968,55 |
12.085.945,87 |
11.666.132,57 |
|
|
Material consumed |
8.562.303,09 |
10.535.670,27 |
10.377.969,22 |
|
|
Raw materials consumed |
1.322.078,77 |
1.548.775,60 |
1.288.163,35 |
|
|
Other expenses |
10.586,69 |
1.500,00 |
|
|
|
A.3. Labor cost |
3.491.245,03 |
4.179.662,09 |
4.986.867,50 |
|
|
Wages |
2.728.318,18 |
3.299.639,72 |
3.995.339,96 |
|
|
Social security expenses |
762.926,85 |
880.022,37 |
991.527,54 |
|
|
A.4. Assets depreciation |
896.401,19 |
1.026.056,44 |
1.260.695,16 |
|
|
A.5 Variance in provision for current
assets |
598.000,00 |
632.166,05 |
521.528,17 |
|
|
Variance in provision for inventory |
598.000,00 |
632.166,05 |
521.528,17 |
|
|
A.6. Other operating costs |
5.195.823,53 |
5.876.423,20 |
6.179.214,81 |
|
|
External costs |
5.159.207,95 |
5.820.806,31 |
6.100.501,02 |
|
|
Taxes |
36.615,58 |
55.616,89 |
78.713,79 |
|
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
570.285,98 |
516.451,24 |
600.893,48 |
|
|
A.7. Financial expenses |
408.283,41 |
356.332,08 |
428.562,78 |
|
|
Other companies debts |
408.283,41 |
356.332,08 |
428.562,78 |
|
|
A.8. Variation in financial investments
provision |
|
|
|
|
|
A.9. Exchange losses |
216,63 |
|
|
|
|
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) |
197.408,54 |
178.167,42 |
200.468,32 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
|
|
|
A.11. Losses in fixed assets |
|
|
|
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
7.083,17 |
31.419,72 |
24.060,00 |
|
|
A.14. Prior year’s expenses and losses |
|
|
|
|
|
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) |
15.708,44 |
48.589,05 |
31.039,17 |
|
|
A.V. EARNINGS / LOSS
BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
213.116,98 |
226.756,47 |
231.507,49 |
|
|
A.15. Corporate
Taxes |
74.759,30 |
54.536,04 |
67.327,02 |
|
|
A.16. Other
taxes |
|
|
|
|
|
A.VI. YEAR END
RESULT (PROFIT) (A.V-A.15-A.16) |
138.357,68 |
172.220,43 |
164.180,47 |
|
|
B) INCOMES (B.1
a B13) |
20.705.138,49 |
24.414.761,92 |
25.664.673,93 |
|
|
B.1. Turnover |
20.362.064,68 |
23.260.756,50 |
25.581.437,14 |
|
|
Sales |
20.770.167,39 |
23.913.712,55 |
26.512.936,67 |
|
|
Services provided |
607.683,15 |
838.060,52 |
762.286,78 |
|
|
Discounts |
-1.015.785,86 |
-1.491.016,57 |
-1.693.786,31 |
|
|
B.2. Increase in
inventory of finished goods |
284.659,60 |
1.055.948,39 |
|
|
|
B.3. Expenses
capitalized |
|
|
|
|
|
B.4. Other operating
income |
|
|
|
|
|
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 |
|
|
9.097,21 |
|
|
Group companies |
|
|
9.097,21 |
|
|
B.7. Other income from interrest |
20.515,30 |
16.733,90 |
19.034,46 |
|
|
From other companies |
20.515,30 |
16.733,90 |
19.034,46 |
|
|
B.8. Gains on exchange |
15.107,30 |
1.314,36 |
5,95 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
372.877,44 |
338.283,82 |
400.425,16 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
|
|
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
22.791,61 |
80.008,77 |
55.099,17 |
|
|
B.13. Prior year’s income and profits |
|
|
|
|
|
B.IV.
EXTRAORDINARY LOSSES (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
|
|
|
|
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) |
2.004 (12) |
2.005 (12) |
2.006 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
15,60 |
14,24 |
9,98 |
|
|
Assets Turnover |
1,10 |
1,10 |
1,12 |
|
|
Productivity |
1,59 |
1,52 |
1,48 |
|
|
Increase of the Added Value |
12,33 |
14,37 |
15,98 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
0,75 |
0,82 |
0,72 |
|
|
Financial Profitability |
2,36 |
2,86 |
2,65 |
|
|
Financial Expenses |
2,01 |
1,53 |
1,68 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
113,00 |
105,00 |
120,00 |
|
|
Suppliers’ Credit (In days of sales) |
205,00 |
224,00 |
169,00 |
|
|
Working Capital (In days of sales) |
73,00 |
69,00 |
52,00 |
|
|
Working Capital Requirement (In days of
sales) |
125,00 |
96,00 |
118,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
4.121.159,32 |
4.440.186,68 |
3.659.971,06 |
|
|
Working Capital Requirement |
7.076.392,80 |
6.199.772,74 |
8.410.089,55 |
|
|
Treasury |
-2.955.233,48 |
-1.759.586,06 |
-4.750.118,49 |
|
|
Balance Ratio |
1,98 |
1,79 |
1,58 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
68,43 |
71,40 |
72,83 |
|
|
Own / Permanent Funds |
70,11 |
59,97 |
61,74 |
|
|
Payback Capacity |
0,58 |
0,60 |
0,61 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,40 |
1,40 |
1,29 |
|
|
Immediate Liquidity |
0,11 |
0,13 |
0,12 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.006 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,02 |
-0,02 |
|
FIXED ASSETS |
27,86 |
20,77 |
7,09 |
|
ACCRUED EXPENSES |
0,09 |
0,26 |
-0,17 |
|
CURRENT ASSETS |
72,06 |
78,96 |
-6,90 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
27,17 |
39,60 |
-12,43 |
|
ACCRUED INCOME |
0,00 |
0,17 |
-0,17 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,23 |
-0,23 |
|
LONG-TERM CREDITORS |
16,84 |
6,40 |
10,44 |
|
SHORT-TERM CREDITORS |
55,99 |
53,55 |
2,44 |
|
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 |
Difference |
|
|
2.006 |
|
|
|
Net turnover |
100,00 |
98,63 |
1,37 |
|
Other operating income |
0,00 |
1,37 |
-1,37 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
47,04 |
72,55 |
-25,52 |
|
Other operation expenses |
24,16 |
12,03 |
12,13 |
|
Added value |
28,81 |
15,42 |
13,39 |
|
Labor cost |
19,49 |
9,08 |
10,41 |
|
Gross Economic Result |
9,32 |
6,34 |
2,98 |
|
Assets depreciation |
4,93 |
1,08 |
3,85 |
|
Variation in provision
for current assets |
2,04 |
0,34 |
1,70 |
|
Net Economic Result |
2,35 |
4,92 |
-2,58 |
|
Financial income |
0,11 |
0,64 |
-0,53 |
|
Financial expenses |
1,68 |
0,99 |
0,68 |
|
Variation in financial
investment provision |
0,00 |
0,03 |
-0,03 |
|
Ordinary Activities
Result |
0,78 |
4,55 |
-3,77 |
|
Extraordinary income |
0,22 |
0,39 |
-0,18 |
|
Extraordinary expenses |
0,09 |
0,21 |
-0,11 |
|
Variation in provision
in fixed assets |
0,00 |
0,08 |
-0,08 |
|
Results before Taxes |
0,90 |
4,66 |
-3,75 |
|
Corporaye taxes |
0,26 |
1,49 |
-1,23 |
|
Net Result |
0,64 |
3,16 |
-2,52 |
|
Assets depreciation |
4,93 |
1,08 |
3,85 |
|
Provisions fund
variation |
2,04 |
0,44 |
1,60 |
|
Net Self-Financing |
7,61 |
4,68 |
2,92 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.006 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
9,98 |
-3,67 |
4,16 |
13,23 |
|
Assets Turnover |
1,12 |
1,34 |
1,75 |
2,26 |
|
Fixed Assets Turnover |
4,02 |
6,49 |
13,05 |
29,41 |
|
Increase of the Added
Value |
15,98 |
-6,95 |
3,50 |
15,40 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,48 |
1,35 |
1,65 |
2,16 |
|
Change of Personnel
Costs |
19,31 |
1,08 |
7,81 |
15,87 |
|
Average Personnel Costs |
21.220,71 |
21.972,63 |
28.228,84 |
35.514,35 |
|
Value Added by Employees |
31.361,64 |
35.027,77 |
50.486,23 |
71.245,12 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
1.946.403,80 |
220.523,33 |
415.868,10 |
819.124,52 |
|
Operating Cash Flow |
2.383.116,81 |
302.216,73 |
596.848,00 |
1.134.303,20 |
|
Change in Cash Flow |
6,34 |
-23,68 |
-1,42 |
20,26 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
0,72 |
1,58 |
3,93 |
7,72 |
|
Financial Profitability |
2,65 |
6,00 |
11,94 |
19,99 |
|
Financial Expenses |
1,68 |
0,22 |
0,59 |
1,20 |
|
Gross Economic
Profitability |
10,46 |
5,03 |
8,82 |
13,93 |
|
Gross Financial
Profitability |
38,50 |
15,07 |
27,09 |
41,57 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days
of sales) |
120,00 |
56,83 |
95,55 |
129,01 |
|
Suppliers’ Credit (In
days of sales) |
168,00 |
26,85 |
73,01 |
116,76 |
|
Working Capital (In days
of sales) |
51,00 |
18,49 |
44,53 |
81,53 |
|
Working Capital Requirement
(In days of sales) |
118,00 |
19,34 |
54,15 |
100,07 |
|
Treasury (In days of
sales) |
0,00 |
-36,35 |
0,71 |
20,86 |
|
Operating Current Assets |
231,00 |
125,98 |
170,78 |
216,03 |
|
BALANCE |
|
|
|
|
|
Working Capital |
3.659.971,06 |
563.244,43 |
1.452.456,79 |
3.012.628,00 |
|
Working Capital
Requirement |
8.410.089,55 |
523.961,55 |
1.761.908,39 |
3.769.019,29 |
|
Treasury |
-4.750.118,49 |
-1.265.585,58 |
23.860,57 |
743.800,65 |
|
Balance Ratio |
1,58 |
1,55 |
2,72 |
5,60 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
72,83 |
46,74 |
64,56 |
77,51 |
|
Own / Permanent Funds |
61,74 |
79,40 |
95,33 |
100,00 |
|
Payback Capacity |
0,61 |
0,22 |
0,35 |
0,47 |
|
Long term Indebtedness |
16,84 |
0,00 |
1,18 |
7,02 |
|
Gearing |
368,05 |
187,77 |
282,13 |
444,72 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,36 |
1,26 |
1,51 |
2,09 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,29 |
1,15 |
1,40 |
1,95 |
|
Immediate Liquidity |
0,12 |
0,04 |
0,12 |
0,34 |
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%)