MIRA
INFORM REPORT
|
Report Date : |
07.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
TURINOX SA |
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Registered Office : |
Calle Torrent Estadella, 43, 08030 |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
18/12/1985 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of wire products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exists |
Identification and
Characteristics
|
Tax Number |
A58074246 |
|
NAME |
TURINOX SA |
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BUSINESS
ADDRESS |
CALLE TORRENT ESTADELLA, 43 |
|
Postcode |
08030 |
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FORMER
ADDRESS |
CALLE VENECUELA, 132 |
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Postcode |
08019 |
|
URL |
http://www.inoxsidables.com |
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TELEPHONE |
932743949 |
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FAX |
932743954 |
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LEGAL FORM |
JOINT STOCK COMPANY |
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DATE FOUNDED |
18/12/1985 |
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CAPITAL |
180.300,00 Euros |
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PAID-UP CAPITAL |
180.300,00 Euros |
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NUMBER OF
EMPLOYEES |
12 |
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ACTIVITY |
1316300 - Mfg. of wire products |
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CNAE |
2873 - Manufacture of wire
products |
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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, warehouse
located in a secondary non-commercial area . |
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Synthesis
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FINANCIAL SITUATION (Year
ending: 31/12/2005) |
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PROFITABILITY |
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Medium |
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TREASURY |
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Excellent |
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BALANCE SHEET |
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Excellent |
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DEBT |
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Low |
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INCIDENTS |
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COMMITMENTS |
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Fulfilled with difficulties |
|
INCIDENTS |
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Few |
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PREVIOUS EXPERIENCE |
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PREVIOUS
EXPERIENCE |
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Average |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 109.000,00
Max. Euros |
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SOLVENCY RATING: |
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(BASED ON HOMOGENEOUS FORMULATION) |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.003 (12) |
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
%
Sales |
|
|
SALES |
5.804.346,31 |
6.948.143,72 |
6.440.977,75 |
|
|
|
ADDED VALUE |
645.300,03 |
817.058,32 |
633.784,91 |
9,84 |
|
|
BUSINESS RESULT |
104.859,34 |
162.983,47 |
89.814,69 |
1,39 |
|
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OWN FUNDS |
1.281.396,14 |
1.444.379,61 |
1.534.194,30 |
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|
|
DEBT |
2.697.746,24 |
2.797.797,07 |
2.293.821,12 |
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|
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TOTAL ASSET |
3.979.142,38 |
4.242.176,68 |
3.828.015,42 |
|
|
|
The sales of 6.440.977,75
Euros show a change of -7,30% compared with
2.004 . Between 2.003 and 2.004 , this
change was 19,71% . |
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Added value grew by -22,43% compared
with the previous year. Shareholders equity are 1.534.194,30
Euros for an indebtedness of 2.293.821,12 Euros
. |
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The result 89.814,69
Euros means financial profitability of 5,85% and
economic profitability of 2,35% . This result means growth of
-44,89% compared with the 2.004. |
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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: 2.005 |
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Figures given in Euros |
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Distribution Base |
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Profit and Loss |
89.815 |
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Total of Amounts to be
distributed |
89.815 |
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Distribution a |
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Voluntary Reserve |
89.815 |
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Auditors’ opinion: |
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FAVOURABLE (2.005) |
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Auditors: |
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Comparative Sector
Analysis
|
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Company |
Sector |
Difference |
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(2.005)
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% of PRODUCTION VALUE |
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SALES |
99,94 |
99,34 |
0,60 |
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ADDED
VALUE |
9,83 |
31,76 |
-21,93 |
|
BUSINESS
RESULT |
1,39 |
3,13 |
-1,74 |
|
% OF TOTAL ASSETS |
|
|
|
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OWN
FUNDS |
40,08 |
42,89 |
-2,81 |
|
DEBT |
59,92 |
57,11 |
2,81 |
Compared sector (CNAE): 287 - Fabricación
de productos metálicos diversos, excepto muebles
Number of companies: 257
Size (Sales Figure): 2.800.000,00 -
7.000.000,00 Euros
The turnover of the company is 0,60% above
the mean for the sector.
The company’s added value was 9,83% s/
the production value, and 21,93% below the mean for the sector.
The company’s business result was
1,39% of the PV, 1,74% below the mean for the sector.
The company’s own resources are 40,08%
, 2,81% below the mean for the sector.
The company’s outside resources are
59,92% , 2,81% 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: 2 |
( First 23/05/2006,
Last 26/02/2007 ) |
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0 |
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0 |
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2 |
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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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Rest of Organisms: 2 |
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Information Date |
Organization |
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26/02/2007 |
TOWN/ CITY HALL DE |
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23/05/2006 |
TOWN/ CITY HALL DE |
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Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
CHAIRMAN |
BOSCH BONJOCH JORDI |
15/09/2005 |
|
BOARD MEMBER |
BOSCH SANCHO ROMA |
03/02/2003 |
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BOARD MEMBER |
SURIS JORDA LLUIS |
09/01/2007 |
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AUDITOR |
|
09/01/2007 |
Functional Managers
|
Position |
Surname and name |
|
GENERAL MANAGER |
BOSCH BONJOCH JORDI |
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FINANCIAL MANAGER |
RAMIREZ SOLER FRANCISCO |
|
PURCHASES MANAGER |
RAMIREZ SOLER FRANCISCO |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
FILINOX SA |
A08200032 |
55,00% |
OWN SOURCES |
01/02/2007 |
|
RAMIREZ SOLER FRANCISCO |
|
Indet. |
OWN SOURCES |
10/05/2006 |
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Resignations |
09/01/2007 |
013294 |
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Appointments |
09/01/2007 |
013294 |
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Appointments |
09/01/2007 |
013252 |
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Registration of accounts
(2005) |
08/01/2007 |
050035 |
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Appointments |
24/02/2006 |
103775 |
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Brands, Signs and
Commercial Names
|
Prevailing Brands |
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Name: |
TURINOX |
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Kind of Brand: |
JOINT |
File: |
M2236923 |
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Request Date: |
26/05/1999 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
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Types: 35
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Total Marcas: 1
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Commercial Experience |
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PURCHASES |
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Import Percentage:
35% |
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Imports::
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Italia |
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SALES |
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Collection (estimated) |
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Cash sales percentage 85
% |
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Export Percentage: 5% |
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Exports::
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Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
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BANCO ATLANTICO |
|
|
|
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|
BANCO DE
SABADELL, S.A. |
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BANCO POPULAR |
0002 |
PASSEIG DE
GRACIA, 17 |
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BANCO SANTANDER
CENTRAL HISPANO, S.A. |
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BANCO PASTOR,
S.A. |
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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 19/12/2006
Balance Sheet
(ASSETS)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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|
|
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B) FIXED ASSETS |
440.232,84 |
424.255,79 |
402.820,40 |
|
|
I. Establishment expenses |
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|
|
|
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II. Intangible assets |
4.989,19 |
3.403,79 |
1.346,39 |
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Concessions, patents,licences , trademarks |
509,36 |
509,36 |
509,36 |
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|
Software |
17.605,87 |
18.077,87 |
18.077,87 |
|
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Amortization |
-13.126,04 |
-15.183,44 |
-17.240,84 |
|
|
III. Tangible assets |
115.164,63 |
100.772,98 |
81.394,99 |
|
|
Machinery, equipment and other |
97.948,97 |
73.593,63 |
73.593,63 |
|
|
Other property plant and equipement |
92.527,94 |
123.892,84 |
123.892,84 |
|
|
Other assets |
29.912,32 |
29.532,65 |
29.532,65 |
|
|
Depreciation |
-105.224,60 |
-126.246,14 |
-145.624,13 |
|
|
IV. Financial assets |
320.079,02 |
320.079,02 |
320.079,02 |
|
|
Shares in affiliated companies |
312.265,86 |
312.265,86 |
312.265,86 |
|
|
Long term deposits and guarantees |
7.813,16 |
7.813,16 |
7.813,16 |
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V. Owners equity |
|
|
|
|
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VI. Long term trade liabilities |
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|
|
|
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C) DEFERRED EXPENSES |
|
|
|
|
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D) CURRENT ASSETS |
3.538.909,54 |
3.817.920,89 |
3.425.195,02 |
|
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I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
1.643.332,80 |
1.440.515,31 |
1.357.573,16 |
|
|
Goods available for sale |
1.643.332,80 |
1.440.515,31 |
1.357.573,16 |
|
|
III. Debtors |
1.773.618,22 |
2.208.414,42 |
1.936.139,89 |
|
|
Clients |
1.765.704,54 |
2.206.016,10 |
1.869.746,46 |
|
|
Other debts |
7.913,68 |
2.398,32 |
66.393,43 |
|
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IV. Short term financial assets |
|
|
|
|
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V. Short term owners equity |
|
|
|
|
|
VI. Cash |
120.806,34 |
168.991,16 |
130.112,97 |
|
|
VII. Prepaid expenses and accrued income |
1.152,18 |
|
1.369,00 |
|
|
ASSETS (A + B + C + D) |
3.979.142,38 |
4.242.176,68 |
3.828.015,42 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
1.281.396,14 |
1.444.379,61 |
1.534.194,30 |
|
|
I. Capital |
180.300,00 |
180.300,00 |
180.300,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
996.236,80 |
1.101.096,14 |
1.264.079,61 |
|
|
Retained earnings |
36.060,73 |
36.060,73 |
36.060,73 |
|
|
Other funds |
960.172,44 |
1.065.035,41 |
1.228.015,25 |
|
|
Capital adjustments in Euros |
3,63 |
|
3,63 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
104.859,34 |
162.983,47 |
89.814,69 |
|
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VII. Dividend paid during the year |
|
|
|
|
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VIII. Own shares for change in capital |
|
|
|
|
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B) DEFERRED INCOME |
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
39.349,46 |
17.735,95 |
7.876,17 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
39.349,46 |
17.428,59 |
7.876,17 |
|
|
Long term bank loans |
39.349,46 |
17.428,59 |
7.876,17 |
|
|
III. Debts with associed and affiliated
companies |
|
|
|
|
|
IV. Other creditors |
|
307,36 |
|
|
|
Taxes receivable |
|
307,36 |
|
|
|
V. Deferred debts on shares |
|
|
|
|
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VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
2.658.396,78 |
2.780.061,12 |
2.285.944,95 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
981.792,52 |
1.081.921,47 |
1.015.863,63 |
|
|
Loans and other debts |
981.792,52 |
1.081.921,47 |
1.015.863,63 |
|
|
III. Short term debts with associated and
affiliated companies |
|
|
|
|
|
IV. Trade creditors |
1.531.757,80 |
1.488.943,99 |
1.184.459,11 |
|
|
Accounts payable |
382,53 |
1.477,98 |
|
|
|
Expenses |
1.531.375,27 |
1.487.466,01 |
1.184.459,11 |
|
|
V. Other non trade payables |
144.846,46 |
209.195,66 |
85.622,21 |
|
|
Government |
117.749,02 |
182.735,51 |
62.055,05 |
|
|
Accounts receivable |
27.097,44 |
26.460,15 |
23.567,16 |
|
|
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) |
3.979.142,38 |
4.242.176,68 |
3.828.015,42 |
Profit and Loss
Account
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) EXPENSES (A.1 a A.16) |
5.708.233,21 |
6.794.825,92 |
6.374.229,22 |
|
|
A.1. Change in stocks of finished goods and
work in progress |
|
|
|
|
|
A.2. Supplies |
4.610.113,32 |
5.570.786,32 |
5.268.170,37 |
|
|
Material consumed |
4.599.158,88 |
5.546.167,85 |
5.246.949,47 |
|
|
Raw materials consumed |
10.954,44 |
24.618,47 |
21.220,90 |
|
|
A.3. Labor cost |
406.814,96 |
489.296,22 |
428.099,04 |
|
|
Wages |
333.368,62 |
401.437,53 |
335.735,44 |
|
|
Social security
expenses |
73.446,34 |
87.858,69 |
92.363,60 |
|
|
A.4. Assets
depreciation |
25.327,24 |
23.079,10 |
21.435,39 |
|
|
A.5 Variance in provision
for current assets |
597,11 |
|
7.304,52 |
|
|
Variance in
provision for bad debts |
597,11 |
|
7.304,52 |
|
|
A.6. Other
operating costs |
550.170,08 |
561.286,42 |
542.992,06 |
|
|
External costs |
545.635,91 |
556.678,75 |
538.707,52 |
|
|
Taxes |
4.534,17 |
4.607,67 |
4.284,54 |
|
|
A.I. OPERATING
RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
212.560,72 |
304.683,00 |
176.945,96 |
|
|
A.7. Financial
expenses |
58.738,89 |
56.327,67 |
54.492,85 |
|
|
Debts with
related companies |
54.644,12 |
|
50.046,33 |
|
|
Other companies
debts |
4.094,77 |
56.327,67 |
4.446,52 |
|
|
A.8. Variation
in financial investments provision |
|
|
|
|
|
A.9. Exchange
losses |
465,17 |
6.497,09 |
3.373,10 |
|
|
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) |
157.032,33 |
244.108,80 |
136.049,55 |
|
|
A.10. Variation
in provision in fixed assets |
|
|
|
|
|
A.11. Losses in fixed
assets |
0,77 |
|
|
|
|
A.12. Losses
from shares and bonds |
|
|
|
|
|
A.13.
Extraordinary charges |
37,51 |
|
0,12 |
|
|
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) |
3.795,17 |
6.427,77 |
2.126,91 |
|
|
A.V. EARNINGS /
LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
160.827,50 |
250.536,57 |
138.176,46 |
|
|
A.15. Corporate
Taxes |
55.968,16 |
87.553,10 |
48.361,77 |
|
|
A.16. Other
taxes |
|
|
|
|
|
A.VI. YEAR END
RESULT (PROFIT) (A.V-A.15-A.16) |
104.859,34 |
162.983,47 |
89.814,69 |
|
|
B) INCOMES (B.1
a B13) |
5.813.092,55 |
6.957.809,39 |
6.464.043,91 |
|
|
B.1. Turnover |
5.804.346,31 |
6.948.143,72 |
6.440.977,75 |
|
|
Sales |
5.804.346,31 |
6.948.143,72 |
6.440.977,75 |
|
|
B.2. Increase in
inventory of finished goods |
|
|
|
|
|
B.3. Expenses
capitalized |
|
|
|
|
|
B.4. Other
operating income |
1.237,12 |
987,34 |
3.969,59 |
|
|
Other incomes |
1.237,12 |
987,34 |
819,59 |
|
|
Grants |
|
|
3.150,00 |
|
|
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 |
|
|
|
|
|
B.7. Other
income from interrest |
460,34 |
872,28 |
2.525,71 |
|
|
From affiliated
companies |
|
|
2.514,27 |
|
|
From other
companies |
460,34 |
872,28 |
11,44 |
|
|
B.8. Gains on
exchange |
3.215,33 |
1.378,28 |
14.443,83 |
|
|
B.II. FINANCIAL
LOSSES (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
55.528,39 |
60.574,20 |
40.896,41 |
|
|
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 |
3.833,45 |
6.427,77 |
2.127,03 |
|
|
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) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
-3,32 |
19,71 |
-7,30 |
|
|
Assets Turnover |
1,46 |
1,64 |
1,68 |
|
|
Productivity |
1,59 |
1,67 |
1,48 |
|
|
Increase of the Added Value |
-8,35 |
26,62 |
-22,43 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
2,64 |
3,84 |
2,35 |
|
|
Financial Profitability |
8,18 |
11,28 |
5,85 |
|
|
Financial Expenses |
1,01 |
0,81 |
0,85 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
110,00 |
114,00 |
108,00 |
|
|
Suppliers’ Credit (In days of sales) |
120,00 |
96,00 |
81,00 |
|
|
Working Capital (In days of sales) |
55,00 |
54,00 |
64,00 |
|
|
Working Capital Requirement (In days of
sales) |
108,00 |
101,00 |
113,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
880.512,76 |
1.037.859,77 |
1.139.250,07 |
|
|
Working Capital Requirement |
1.741.498,94 |
1.950.790,08 |
2.025.000,73 |
|
|
Treasury |
-860.986,18 |
-912.930,31 |
-885.750,66 |
|
|
Balance Ratio |
3,00 |
3,45 |
3,83 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
67,80 |
65,95 |
59,92 |
|
|
Own / Permanent Funds |
97,02 |
98,79 |
99,49 |
|
|
Payback Capacity |
0,46 |
0,40 |
0,36 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,33 |
1,37 |
1,50 |
|
|
Immediate Liquidity |
0,05 |
0,06 |
0,06 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,03 |
-0,03 |
|
FIXED ASSETS |
10,52 |
33,88 |
-23,36 |
|
ACCRUED EXPENSES |
0,00 |
0,44 |
-0,44 |
|
CURRENT ASSETS |
89,48 |
65,66 |
23,82 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
40,08 |
42,89 |
-2,81 |
|
ACCRUED INCOME |
0,00 |
0,89 |
-0,89 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,16 |
-0,16 |
|
LONG-TERM CREDITORS |
0,21 |
11,71 |
-11,50 |
|
SHORT-TERM CREDITORS |
59,72 |
44,33 |
15,39 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,02 |
-0,02 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of
Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Net turnover |
99,94 |
99,34 |
0,60 |
|
Other operating income |
0,06 |
0,66 |
-0,60 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
81,74 |
54,47 |
27,27 |
|
Other operation expenses |
8,43 |
13,76 |
-5,34 |
|
Added value |
9,83 |
31,76 |
-21,93 |
|
Labor cost |
6,64 |
22,52 |
-15,88 |
|
Gross Economic Result |
3,19 |
9,24 |
-6,05 |
|
Assets depreciation |
0,33 |
3,90 |
-3,57 |
|
Variation in provision
for current assets |
0,11 |
0,21 |
-0,09 |
|
Net Economic Result |
2,75 |
5,14 |
-2,39 |
|
Financial income |
0,26 |
0,26 |
0,00 |
|
Financial expenses |
0,90 |
1,21 |
-0,31 |
|
Variation in financial
investment provision |
0,00 |
0,01 |
-0,01 |
|
Ordinary Activities
Result |
2,11 |
4,18 |
-2,07 |
|
Extraordinary income |
0,03 |
0,59 |
-0,55 |
|
Extraordinary expenses |
0,00 |
0,16 |
-0,16 |
|
Variation in provision
in fixed assets |
0,00 |
0,06 |
-0,06 |
|
Results before Taxes |
2,14 |
4,56 |
-2,41 |
|
Corporaye taxes |
0,75 |
1,42 |
-0,67 |
|
Net Result |
1,39 |
3,13 |
-1,74 |
|
Assets depreciation |
0,33 |
3,90 |
-3,57 |
|
Provisions fund
variation |
0,11 |
0,27 |
-0,16 |
|
Net Self-Financing |
1,84 |
7,30 |
-5,46 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-7,30 |
-1,57 |
9,65 |
18,06 |
|
Assets Turnover |
1,68 |
1,03 |
1,36 |
1,65 |
|
Fixed Assets Turnover |
15,99 |
2,77 |
4,58 |
8,27 |
|
Increase of the Added
Value |
-22,43 |
-5,56 |
1,72 |
10,47 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,48 |
1,23 |
1,40 |
1,67 |
|
Change of Personnel
Costs |
-12,51 |
-2,27 |
4,57 |
13,80 |
|
Average Personnel Costs |
35.674,92 |
23.882,67 |
28.223,87 |
33.598,32 |
|
Value Added by Employees |
52.815,41 |
33.071,50 |
41.158,24 |
49.521,22 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
118.554,60 |
143.559,07 |
251.820,97 |
384.721,40 |
|
Operating Cash Flow |
205.685,87 |
202.466,10 |
318.198,64 |
501.917,13 |
|
Change in Cash Flow |
-36,28 |
-20,94 |
-0,87 |
18,41 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
2,35 |
1,30 |
3,11 |
6,17 |
|
Financial Profitability |
5,85 |
4,18 |
8,71 |
15,40 |
|
Financial Expenses |
0,85 |
0,39 |
0,85 |
1,55 |
|
Gross Economic
Profitability |
5,37 |
7,40 |
11,16 |
16,31 |
|
Gross Financial
Profitability |
13,41 |
17,73 |
30,02 |
45,41 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
108,00 |
75,16 |
98,47 |
118,67 |
|
Suppliers’ Credit (In
days of sales) |
80,00 |
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
63,00 |
13,75 |
50,09 |
93,55 |
|
Working Capital
Requirement (In days of sales) |
113,00 |
-3,56 |
27,39 |
73,71 |
|
Treasury (In days of
sales) |
0,00 |
3,74 |
13,73 |
37,74 |
|
Operating Current Assets |
191,00 |
132,26 |
174,27 |
231,12 |
|
BALANCE |
|
|
|
|
|
Working Capital |
1.139.250,07 |
157.284,22 |
505.529,53 |
1.045.715,18 |
|
Working Capital
Requirement |
2.025.000,73 |
-34.109,24 |
299.920,92 |
810.313,25 |
|
Treasury |
-885.750,66 |
39.697,61 |
140.645,63 |
397.945,73 |
|
Balance Ratio |
3,83 |
1,15 |
1,60 |
2,76 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
59,92 |
42,89 |
58,86 |
74,14 |
|
Own / Permanent Funds |
99,49 |
62,87 |
84,49 |
96,71 |
|
Payback Capacity |
0,36 |
0,26 |
0,38 |
0,55 |
|
Long term Indebtedness |
0,21 |
1,38 |
6,58 |
16,53 |
|
Gearing |
249,51 |
175,11 |
243,07 |
386,76 |
|
Financing Basic Ratio |
1,00 |
0,99 |
1,00 |
1,00 |
|
Assets Guarantee |
1,67 |
1,26 |
1,58 |
2,23 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,50 |
1,09 |
1,37 |
1,92 |
|
Immediate Liquidity |
0,06 |
0,04 |
0,13 |
0,41 |
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%)