MIRA
INFORM REPORT
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Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIACEL GEMAS S.L. |
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Registered Office : |
Calle Sevilla, 19 14003 Cordoba |
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Country : |
Spain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
15.01.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Jewellery and related Articles |
RATING &
COMMENTS
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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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
DIACEL GEMAS S.L.
TAX NUMBER: B14575286
Identification and
Characteristics
TAX NUMBER B14575286
NAME DIACEL GEMAS S.L.
BUSINESS ADDRESS CALLE SEVILLA, 19
Postcode 14003 CORDOBA (Córdoba)
TELEPHONE 957484971
FAX 957484971
LEGAL FORM LIMITED LIABILITY COMPANY
DATE FOUNDED 15/01/2001
CAPITAL 3.005,06 Euros
NUMBER OF EMPLOYEES 4
ACTIVITY 1491100 - Jewellery
CNAE 3622 - Manufacture of jewellery and related articles n.e.c.
Synthesis
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FINANCIAL SITUATION (Year ending: 31/12/2006) |
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PROFITABILITY |
Medium |
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TREASURY |
Average |
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DEBT |
Heavy |
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INCIDENTS |
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COMMITMENTS |
Respected |
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INCIDENTS |
None or Negligible |
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PREVIOUS EXPERIENCE |
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PREVIOUS EXPERIENCE |
Normal |
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Credit Appraisal
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CREDIT ACCORDING TO OBJECTIVE DATA (From 0 to 6.000.000,00 Euros): |
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FAVOURABLE TOWARDS 20.001,68 Max. |
Financial Elements
Figures given in Euros
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Balance sheet 2.004 (12) |
Balance sheet 2.005 (12) |
Balance sheet 2.006 (12) |
% Sales |
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SALES |
876.443,92 |
876.076,60 |
906.475,37 |
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ADDED VALUE |
23.191,60 |
50.049,92 |
60.173,62 |
6,64 |
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BUSINESS RESULT |
-5.920,25 |
11.839,65 |
17.245,70 |
1,90 |
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OWN FUNDS |
3.219,72 |
15.059,37 |
32.305,07 |
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DEBT |
203.519,60 |
359.291,54 |
545.176,61 |
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TOTAL ASSET |
206.739,32 |
374.350,91 |
577.481,68 |
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The sales of 906.475,37 Euros show a change of 3,47% compared with 2.005 . Between 2.004 and 2.005 , this change was -0,04% . |
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Added value grew by 20,23% compared with the previous year. Shareholders equity are 32.305,07 Euros for an indebtedness of 545.176,61 Euros . |
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The result 17.245,70 Euros means financial profitability of 53,38% and economic profitability of 2,99% . This result means growth of 45,66% 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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DATE: 20/08/2007 |
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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 |
17.246 |
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Total of Amounts to be distributed |
17.246 |
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Distribution a |
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Carry Over |
17.246 |
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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SALES |
100,00 |
99,41 |
0,59 |
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ADDED VALUE |
6,64 |
32,53 |
-25,89 |
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BUSINESS RESULT |
1,90 |
0,82 |
1,08 |
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% OF TOTAL ASSETS |
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OWN FUNDS |
5,59 |
38,45 |
-32,86 |
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DEBT |
94,41 |
61,55 |
32,86 |
Compared sector (CNAE): 362 - Striking of coins and medals
Number of companies: 138
Size (Sales Figure): 0 - 2.800.000,00 Euros
The turnover of the company is 0,59% above the mean for the sector.
The company’s added value was 6,64% s/ the production value, and 25,89% below the mean for the sector.
The company’s business result was 1,90% of the PV, 1,08% above the mean for the sector.
The company’s own resources are 5,59% , 32,86% below the mean for the sector.
The company’s outside resources are 94,41% , 32,86% above the mean for the sector.
Legal Actions
No legal incidences registered for this company in the official source
No claims registered for this company in the official sources
AFFECTED BY: No significant elemento
Main Board members, Directors and
Auditor
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Position |
Surname and name |
Date of appointment |
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ADMINISTRATOR |
REVUELTO RUIZ MOZOS MARIA CARMEN |
13/03/2001 |
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ADMINISTRATOR |
REVUELTO RUIZ MOZOS RAFAEL |
13/03/2001 |
Financial Links
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Shareholders |
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Company Name |
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Source |
Information Date |
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REVUELTO RUIZ MOZOS MARIA CARMEN |
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Indet. |
OWN SOURCES |
09/04/2008 |
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REVUELTO RUIZ MOZOS RAFAEL |
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Indet. |
OWN SOURCES |
09/04/2008 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
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Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
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Registration of accounts (2006) |
10/08/2007 |
266912 |
Córdoba |
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Registration of accounts (2005) |
11/10/2006 |
702959 |
Córdoba |
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Registration of accounts (2004) |
14/09/2005 |
394236 |
Córdoba |
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Registration of accounts (2003) |
21/10/2004 |
683463 |
Córdoba |
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Resignations |
24/02/2004 |
095457 |
Córdoba |
Remarks for customer
Linked by its board members to .;B14575286 DIACEL GEMAS SL
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 20/08/2007
Balance Sheet (ASSETS)
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(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
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A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
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B) FIXED ASSETS |
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I. Establishment expenses |
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II. Intangible assets |
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III. Tangible assets |
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IV. Financial assets |
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V. Owners equity |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
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D) CURRENT ASSETS |
206.739,32 |
374.350,91 |
577.481,68 |
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I. Not paid in shareholder capital |
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II. Inventory |
188.024,10 |
159.484,03 |
31.781,45 |
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III. Debtors |
444,22 |
192.936,44 |
470.168,00 |
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IV. Short term financial assets |
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V. Short term owners equity |
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VI. Cash |
18.271,00 |
21.930,44 |
75.532,23 |
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VII. Prepaid expenses and accrued income |
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ASSETS (A + B + C + D) |
206.739,32 |
374.350,91 |
577.481,68 |
Balance Sheet (LIABILITIES)
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(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
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A) SHAREHOLDERS EQUITY |
3.219,72 |
15.059,37 |
32.305,07 |
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I. Capital |
3.005,06 |
3.005,06 |
3.005,06 |
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II. Premium share account |
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III. Revaluation reserve |
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IV. Reserves |
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V. Prior year earnings |
6.134,91 |
214,66 |
12.054,31 |
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VI. Prior year profit or losses |
-5.920,25 |
11.839,65 |
17.245,70 |
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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 |
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C) PROVISIONS FOR LIABILITIES AND EXPENSES |
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D) LONG TERM LIABILITIES |
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E) SHORT TERM LIABILITIES |
203.519,60 |
359.291,54 |
545.176,61 |
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F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
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LIABILITIES (A + B + C + D + E + F) |
206.739,32 |
374.350,91 |
577.481,68 |
Profit and Loss Account
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(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
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A) EXPENSES (A.1 a A.15) |
882.851,83 |
864.770,07 |
890.260,60 |
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A.1 Operating Expenses |
835.048,84 |
801.686,66 |
827.034,35 |
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A.3. Labor cost |
22.386,36 |
30.726,86 |
31.592,06 |
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Wages |
19.652,40 |
27.287,61 |
28.644,37 |
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Social security expenses |
2.733,96 |
3.439,25 |
2.947,69 |
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A.3. Assets depreciation |
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A.4. Variance in provision for current assets |
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A.5. Other operating costs |
18.203,48 |
24.340,02 |
19.267,40 |
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A.I. OPERATING RESULT (B.1-A.1-A.2-A.3-A.4-A.5) |
805,24 |
19.323,06 |
28.581,56 |
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A.6. Financial expenses |
7.213,15 |
5.479,64 |
4.975,78 |
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Other companies debts |
7.213,15 |
5.479,64 |
4.975,78 |
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A.7. Variation in financial investments provision |
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A.8. Exchange losses |
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A.II. POSITIVE FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8) |
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A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
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14.376,54 |
24.636,71 |
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A.9. Variation in provision in fixed assets |
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A.10. Losses in fixed assets |
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A.11. Losses from shares and bonds |
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A.12. Extraordinary charges |
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A.13. Prior year’s expenses and losses |
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A.IV. POSITIVE EXTRAORDINARY RESULT (B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
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A.V. EARNINGS / LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
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14.376,54 |
24.636,71 |
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A.14. Corporate Taxes |
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2.536,89 |
7.391,01 |
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A.15. Other taxes |
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A.VI. YEAR END RESULT (PROFIT) (A.V-A.14-A.15) |
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11.839,65 |
17.245,70 |
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B) INCOMES (B.1 a B.8) |
876.931,58 |
876.609,72 |
907.506,30 |
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B.1. Operating income |
876.443,92 |
876.076,60 |
906.475,37 |
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Turnover |
876.443,92 |
876.076,60 |
906.475,37 |
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B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
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B.2. Financial Income |
487,66 |
533,12 |
1.030,93 |
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Other |
487,66 |
533,12 |
1.030,93 |
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B.3. Gains on exchange |
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B.II. FINANCIAL LOSSES (A.6+A.7+A.8-B.2-B.3) |
6.725,49 |
4.946,52 |
3.944,85 |
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B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
5.920,25 |
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B.4. Gains from disposal of fixed assets |
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B.5. Gains from dealing in own shares |
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B.6. Paid in surplus |
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B.7. Extraordinary income |
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B.8. Prior year’s income and profits |
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B.IV. EXTRAORDINARY LOSSES (A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
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B.V. LOSS BEFORE TAXES (B.III+B.IV-A.III-A.IV) |
5.920,25 |
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B.VI. NET LOSS (B.V+A.14+A.15) |
5.920,25 |
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Main Ratios
|
(Figures given in Euros) |
2.004 (12) |
2.005 (12) |
2.006 (12) |
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ACTIVITY |
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Increase of the Sales Figures |
135,00 |
-0,04 |
3,47 |
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Assets Turnover |
4,24 |
2,34 |
1,57 |
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Productivity |
1,04 |
1,63 |
1,91 |
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Increase of the Added Value |
-16,69 |
115,81 |
20,23 |
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PROFITABILITY |
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Economic Profitability |
-2,86 |
3,16 |
2,99 |
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Financial Profitability |
-183,87 |
78,62 |
53,38 |
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Financial Expenses |
0,82 |
0,63 |
0,55 |
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BALANCE (IN DAYS OF SALES) |
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Customers’ Credit (In days of sales) |
0,00 |
79,00 |
187,00 |
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Suppliers’ Credit (In days of sales) |
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Working Capital (In days of sales) |
1,00 |
6,00 |
13,00 |
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Working Capital Requirement (In days of sales) |
0,00 |
0,00 |
0,00 |
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Treasury (In days of sales) |
8,00 |
9,00 |
30,00 |
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BALANCE |
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Working Capital |
3.219,72 |
15.059,37 |
32.305,07 |
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Working Capital Requirement |
-15.051,28 |
-6.871,07 |
-43.227,16 |
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Treasury |
18.271,00 |
21.930,44 |
75.532,23 |
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Balance Ratio |
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SOLVENCY |
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Borrowing Ratio |
98,44 |
95,98 |
94,41 |
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Own / Permanent Funds |
100,00 |
100,00 |
100,00 |
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Payback Capacity |
0,23 |
0,41 |
0,60 |
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LIQUIDITY |
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General Liquidity |
1,02 |
1,04 |
1,06 |
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Immediate Liquidity |
0,09 |
0,06 |
0,14 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
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2.006 |
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Assets |
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A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
0,00 |
0,08 |
-0,08 |
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B) FIXED ASSETS |
0,00 |
26,22 |
-26,22 |
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C) ACCRUED EXPENSES |
0,00 |
0,66 |
-0,66 |
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D) CURRENT ASSETS |
100,00 |
73,02 |
26,98 |
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TOTAL ASSETS (A + B + C + D) |
100,00 |
100,00 |
0,00 |
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Liabilities |
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A) SHAREHOLDERS EQUITY |
5,59 |
38,45 |
-32,86 |
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B) ACCRUED INCOME |
0,00 |
0,36 |
-0,36 |
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C) RISK AND EXPENDITURE COVER |
0,00 |
0,28 |
-0,28 |
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D) LONG-TERM CREDITORS |
0,00 |
15,13 |
-15,13 |
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E) SHORT-TERM CREDITORS |
94,41 |
45,25 |
49,16 |
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F) SHORT-TERM RISK AND EXPENDITURE COVER |
0,00 |
0,51 |
-0,51 |
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TOTAL LIABILITIES (A + B + C + D + E + F) |
100,00 |
100,00 |
0,00 |
Analytical Account of Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.006 |
|
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Net turnover |
100,00 |
99,41 |
0,59 |
|
Other operating income |
0,00 |
0,58 |
-0,58 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
91,24 |
52,95 |
38,29 |
|
Other operation expenses |
2,13 |
14,50 |
-12,37 |
|
Added value |
6,64 |
32,53 |
-25,89 |
|
Labor cost |
3,49 |
28,17 |
-24,68 |
|
Gross Economic Result |
3,15 |
4,36 |
-1,21 |
|
Assets depreciation |
0,00 |
2,00 |
-2,00 |
|
Variation in provision for current assets |
0,00 |
0,17 |
-0,17 |
|
Net Economic Result |
3,15 |
2,18 |
0,97 |
|
Financial income |
0,11 |
0,61 |
-0,50 |
|
Financial expenses |
0,55 |
2,55 |
-2,00 |
|
Variation in financial investment provision |
0,00 |
0,00 |
0,00 |
|
Ordinary Activities Result |
2,72 |
0,23 |
2,49 |
|
Extraordinary income |
0,00 |
1,75 |
-1,75 |
|
Extraordinary expenses |
0,00 |
0,26 |
-0,26 |
|
Variation in provision in fixed assets |
0,00 |
0,00 |
0,00 |
|
Results before Taxes |
2,72 |
1,71 |
1,01 |
|
Corporaye taxes |
0,82 |
0,89 |
-0,07 |
|
Net Result |
1,90 |
0,82 |
1,08 |
|
Assets depreciation |
0,00 |
2,00 |
-2,00 |
|
Provisions fund variation |
0,00 |
0,17 |
-0,17 |
|
Net Self-Financing |
1,90 |
3,00 |
-1,10 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.006 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
3,47 |
-16,38 |
-3,47 |
8,49 |
|
Assets Turnover |
1,57 |
0,73 |
1,05 |
1,55 |
|
Fixed Assets Turnover |
|
1,91 |
6,13 |
18,53 |
|
Increase of the Added Value |
20,23 |
-11,64 |
0,53 |
12,49 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,90 |
1,05 |
1,18 |
1,33 |
|
Change of Personnel Costs |
2,82 |
-0,51 |
4,44 |
12,99 |
|
Average Personnel Costs |
31.592,06 |
16.170,00 |
20.640,00 |
24.850,00 |
|
Value Added by Employees |
60.173,62 |
18.730,00 |
24.650,00 |
29.720,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
17.245,70 |
3.610,00 |
15.940,00 |
33.470,00 |
|
Operating Cash Flow |
28.581,56 |
6.570,00 |
22.010,00 |
57.740,00 |
|
Change in Cash Flow |
45,66 |
-46,36 |
-9,16 |
22,30 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
2,99 |
0,20 |
1,45 |
3,64 |
|
Financial Profitability |
53,38 |
0,87 |
4,74 |
12,22 |
|
Financial Expenses |
0,55 |
0,52 |
1,68 |
3,19 |
|
Gross Economic Profitability |
4,95 |
1,97 |
6,42 |
10,80 |
|
Gross Financial Profitability |
88,47 |
6,00 |
19,42 |
36,59 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
186,00 |
21,23 |
69,63 |
140,83 |
|
Suppliers’ Credit (In days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days of sales) |
12,00 |
21,72 |
65,05 |
136,99 |
|
Working Capital Requirement (In days of sales) |
0,00 |
-2,90 |
42,18 |
110,21 |
|
Treasury (In days of sales) |
29,00 |
8,09 |
18,92 |
45,14 |
|
Operating Current Assets |
229,00 |
147,74 |
232,13 |
349,64 |
|
BALANCE |
|
|
|
|
|
Working Capital |
32.305,07 |
18.010,00 |
77.520,00 |
226.090,00 |
|
Working Capital Requirement |
-43.227,16 |
-3.740,00 |
40.520,00 |
194.500,00 |
|
Treasury |
75.532,23 |
7.040,00 |
26.550,00 |
62.370,00 |
|
Balance Ratio |
|
1,20 |
1,98 |
6,36 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
94,41 |
42,39 |
64,84 |
80,47 |
|
Own / Permanent Funds |
100,00 |
51,73 |
88,25 |
100,00 |
|
Payback Capacity |
0,60 |
0,27 |
0,48 |
0,82 |
|
Long term Indebtedness |
|
0,00 |
6,20 |
23,52 |
|
Gearing |
1.787,59 |
175,72 |
297,07 |
525,96 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,06 |
1,23 |
1,53 |
2,33 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,06 |
1,12 |
1,43 |
2,29 |
|
Immediate Liquidity |
0,14 |
0,04 |
0,15 |
0,38 |
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%)