MIRA
INFORM REPORT
|
Report Date : |
14.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AKLAN OCCIDENTAL
S.L. |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
FINANCIAL
REPORT
AKLAN OCCIDENTAL S.L.
TAX NUMBER: B81841777
EXECUTIVE
SUMMARY
Identification
Current Business Name: AKLAN OCCIDENTAL S.L.
Other names: YES
Current Address: STREET DARIO, 19, CP 28232, LAS
ROZAS DE MADRID MADRID
Telephone number: 916319943 Fax: 916318757
Commercial
Risk
Legal Actions: NO
Financial
Information
Latest Balance sheet sales (2006): 204.457,14 € (MERCANTILE REGISTER)
Result: -10.628,17 €
Total Assets: 584.392,55 €
Social Capital: 3.005,06 €
Employees: 3
Commercial
Information
Constitution Date: 28/10/1997
Business activity: Wholesale of textiles
NACE Code: 5141
International Operations: No business relationships registered
Corporate
Structure
Sole Administrator:
Parent Company:
Other
Complementary Information
Latest proceeding published in BORME: 21/11/2007 Registration of accounts
Bank Entities: Yes
Rating
Evolution
Financial
Situation
Fiscal year2006
|
Treasury |
Very degraded |
|
Indebtedness |
Important |
|
Profitability |
Negative |
|
Balance |
Very Degraded |
Performance
|
Legal Actions |
None or Negligible |
|
Business Trajectory |
Acceptable |
INCIDENTS 
Summary
LEGAL ACTIONS: No legal incidences registered
CLAIM FILED AGAINST THE ADMINISTRATION: No administrative claims registered
AFFECTED BY: No significant element.
FINANCIAL
ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
Figures given in €
|
|
2004 (12) |
2005 (12) |
2006 (12) |
% ASSETS |
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BALANCE SHEET ANALYSIS |
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OWN FUNDS |
100.288,43 |
116.925,18 |
106.297,01 |
18,19 |
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|
|
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DEBT |
521.840,38 |
483.720,94 |
478.095,54 |
81,81 |
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|
|
|
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FIXED ASSETS |
398.312,81 |
381.478,67 |
400.332,52 |
68,50 |
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|
|
|
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TOTAL ASSETS |
622.128,81 |
600.646,12 |
584.392,55 |
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2004 (12) |
2005 (12) |
2006 (12) |
% SALES |
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PROFIT AND LOSS ACCOUNT ANALYSIS |
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SALES |
505.187,78 |
389.814,50 |
204.457,14 |
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ADDED VALUE |
150.433,33 |
109.582,51 |
65.750,29 |
32,16 |
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EBITDA |
103.889,85 |
58.304,54 |
20.072,44 |
9,82 |
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EBIT |
76.890,18 |
38.354,96 |
1.304,04 |
0,64 |
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NET RESULT |
41.419,79 |
16.636,75 |
-10.628,17 |
-5,20 |
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Balance Sheets Items Analysis
Balance Sheet Comments
Total assets of the company decreased in 3,45%
between 2004 and 2005.
This decrease has been greater in the fixed
assets that reduced in -4,23%.
Assets reduction contrasts with net worth growth
of 16,59%. Therefore, the company’s indebtedness has reduced in 7,30%.
Total assets of the company decreased in 2,71%
between 2005 and 2006.
In spite of the decrease in the amount of total
assets, fixed assets grew 4,94%.
Assets reduction is explained by net worth
decrease of9,09and to indebtedness reduction of 1,16.
Profit
and Loss Account Analysis
Profit and Loss Account Comments
The company’s sales figure decreased in 22,84%
between 2004 and 2005.
The company’s EBIT decreased in 50,12% between
2004 and 2005.
This evolution implies a reduction in the
company’s operating profitability.
The result of these variations is a decrease of
the company’s Economic Profitability of 48,33% in the analysed period, being
this profitability of 6,39% in the year 2005.
The company’s Net Result decreased in 59,83%
between 2004 and 2005.
This evolution, compared to the EBIT’s
performance, implies that the financial and extraordinary activities have had a
negative effect in the company’s Financial Profitability.
The result of these variations is a reduction of
the company’s profitability of 65,55% in the analysed period, being equal to
14,23% in the year 2005.
The company’s sales figure decreased in 47,55%
between 2005 and 2006.
The company’s EBIT decreased in 96,60% between
2005 and 2006.
This evolution implies a reduction in the
company’s operating profitability.
The result of these variations is a decrease of
the company’s Economic Profitability of 96,51% in the analysed period, being
this profitability of 0,22% in the year 2006.
The company’s Net Result decreased in 163,88%
between 2005 and 2006.
This evolution, compared to the EBIT’s
performance, implies that the financial and extraordinary activities have had a
negative effect in the company’s Financial Profitability.
The result of these variations is a reduction of
the company’s profitability of 170,27% in the analysed period, being equal to
-10,00% in the year 2006.
ANNUAL
FINANCIAL REPORT ADDITIONAL DATA
Source: annual financial
report 2002
Results Distribution
Figures given in €
|
DISTRIBUTION BASE |
DISTRIBUTION TO |
||
|
Profit and Loss |
14.737,00 |
Retained earnings |
0,00 |
|
Carry Over |
0,00 |
Voluntary Reserve |
14.737,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry Over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be
distributed |
14.737,00 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
COMPARATIVE
SECTOR ANALYSIS
Values table
Figures expressed in %
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|
COMPANY (2006) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
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BALANCE SHEET ANALYSIS: % on the total assets |
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OWN FUNDS |
18,19 |
37,47 |
-19,28 |
-51,46 |
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DEBT |
81,81 |
62,53 |
19,28 |
30,84 |
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FIXED ASSETS |
68,50 |
27,90 |
40,60 |
145,49 |
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COMPANY (2006) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
100,00 |
98,82 |
1,18 |
1,20 |
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ADDED VALUE |
32,16 |
20,05 |
12,11 |
60,39 |
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EBIT |
0,64 |
3,61 |
-2,97 |
-82,33 |
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NET RESULT |
-5,20 |
2,18 |
-7,38 |
-338,56 |
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Sector Composition
Compared sector (NACE): 514
Number of companies: 3917
Size (Sales Figure) : 0 - 2.800.000,00 Euros
Comments on the sectorial comparative
Compared to its sector the assets of the
companies show a greater proportion of fixed assets. Specifically the
difference with the sector average is 40,60% , which means a relative
difference of 145,49% .
In liabilities composition the company appeals
on a wider scale to self financing, being the proportion of net worth of 19,28%
inferior, which means a relative difference of 51,46% 19,28% more than the
sector, which means a difference of 30,84% .
The proportion that the sales mean to the
company’s total ordinary income is 100,00%, 1,18% higher than in the sector,
which means a relative difference of 1,20% .
The company’s EBIT was positive and was 0,64%
with regard to the total ordinary income, 2,97% less than the sector, which
means a relative difference of 82,33% .
The company’s capacity to generate operating
income is equal to that of the sector as its ratio EBIT/Sales is also equal.
The company’s net result was negative and equal
to -5,20% with regard to the total ordinary income, 7,38% less than the sector,
which means a relative difference of 338,56% .
The financial and extraordinary results and the
tax impact have had a negative impact on the Net result in the company with a
worse behaviour than in the sector; as a consequence, the company shows a worse
Net Result/EBIT ratio (REBEmpresa vs. REBSector).
ADDRESSES
Current Legal Seat Address:
STREET DARIO, 19
28232 LAS ROZAS DE MADRID MADRID
Characteristics of the current address
Type of premises: store
CORPORATE
STRUCTURE
ADMINISTRATIVE LINKS
Main Board members, Directors and Auditor 
|
POSITION |
SURNAMES AND NAME |
APPOINTMENT DATE |
|
SOLE ADMINISTRATOR |
CALLEJA ABARZUZA MARIA SARA |
05/11/1999 |
FINANCIAL
LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATA INF. |
|
|
CALLEJA ABARZUZA MARIA SARA |
|
100,00 |
B.O.R.M.E. |
15/07/2004 |
CREDIT
INFORMATION
Constitution Date: 28/10/1997
Business
activity 
Activity: Wholesale of textiles
NACE Code: 5141
NACE Activity: Wholesale of textiles
Business: EL COMERCIO, IMPORTACION Y EXPORTACION DE CUALQUIER TIPO DE PRODUCTOS
ELABORADOS Y DE FORMA ESPECIAL, DE TODO TIPO DE PRENDAS DE VESTIR ASI COMO SUS
COMPLEMENTOS Y ACCESORIOS.
Employees 
Number of total employees: 3 (2006)
Number of fixed employees: 100,00%
Number of temporary employees: 0,00%
Employees
evolution
Banks 
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CAJA DE AHORROS Y PENSIONES DE BARCELONA |
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|
LAS ROZAS |
|
1 bank entities registered
Brands,
Signs and Commercial Names 
Brand name: PAUL VOUZIERS (Valid)
Type: DENOMINATIVE
Date: 03/11/1997
LEGAL
STRUCTURE
Constitution Data
Register Date: 28/10/1997
Register town: Madrid
Announcement number: 389731
Legal form: LIMITED LIABILITY COMPANY
Social Capital: 3.005,06 €
Current Legal Form: LIMITED LIABILITY COMPANY
Current Capital: 3.005,06 €
Legal
Aspects
Obligation to fill in Financial
Statements: YES
Chamber census: YES (2006)
Listed on a Stock Exchange: NO
B.O.R.M.E.(Official
Companies Registry Gazette) 
Registered Proceedings
|
PROCEEDINGS |
DATE |
NOTICE NUM. |
TRADE REG. |
|
Declaration of individual ownership |
15/07/2004 |
320646 |
Madrid |
Other Proceedings published
|
PROCEEDINGS |
DATE |
NOTICE NUM. |
TRADE REG. |
|
Registration of accounts (2006) Individual |
21/11/2007 |
1050119 |
Madrid |
|
Registration of accounts (2005) Individual |
05/10/2006 |
664147 |
Madrid |
|
Registration of accounts (2004) Individual |
04/11/2005 |
836420 |
Madrid |
|
Registration of accounts (2003) Individual |
01/12/2004 |
912440 |
Madrid |
FINANCIAL
INFORMATION
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 10/12/2007.
BALANCE SHEET
Assets
Figures given in €
|
|
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
A) DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
|
|
|
|
B) FIXED ASSETS |
398.312,81 |
381.478,67 |
400.332,52 |
|
I. Incorporation costs |
|
|
|
|
II. Intangible fixed
assets |
129,96 |
129,96 |
129,96 |
|
III. Tangible fixed assets |
398.182,85 |
381.348,71 |
400.202,56 |
|
IV. Financial fixed
assets |
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V.Owners equity |
|
|
|
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VI.Long term trade
liabilities |
|
|
|
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C) DEFERRED EXPENSES |
28.039,65 |
25.333,66 |
22.474,62 |
|
D) CURRENT ASSETS |
195.776,35 |
193.833,79 |
161.585,41 |
|
I. Shareholders by
required outlays |
|
|
|
|
II. Stocks |
41.698,19 |
28.564,95 |
46.201,08 |
|
III. Debtors |
142.830,72 |
118.146,62 |
82.357,15 |
|
IV. Temporary financial
investment |
544,00 |
100,00 |
350,00 |
|
V. Short-term own shares |
|
|
|
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VI. Treasury |
10.703,44 |
47.022,22 |
32.677,18 |
|
VII. Periodification
adjustments |
|
|
|
|
ASSETS (A + B + C + D) |
622.128,81 |
600.646,12 |
584.392,55 |
Assets composition
Liabilities
Figures given in €
|
|
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
A) SHAREHOLDERS EQUITY |
100.288,43 |
116.925,18 |
106.297,01 |
|
I. Share capital |
3.005,06 |
3.005,06 |
3.005,06 |
|
II. Issue bonus |
|
|
|
|
III.Revaluation reserve |
|
|
|
|
IV.Reserves |
55.863,58 |
97.283,37 |
113.920,12 |
|
Capital adjustments in Euros |
|
|
|
|
Sundry reserves |
55.863,58 |
97.283,37 |
113.920,12 |
|
V.Results from previous
years |
|
|
|
|
VI.Profit and Losses |
41.419,79 |
16.636,75 |
-10.628,17 |
|
VII.Dividend paid during
the year |
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VIII.Own shares for
capital reduction |
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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 |
122.700,89 |
116.120,29 |
109.377,92 |
|
E) SHORT TERM LIABILITIES |
399.139,49 |
367.600,65 |
368.717,62 |
|
F) SHORT TERM PROVISIONS
FOR LIABILITIES AND EXPENSES |
|
|
|
|
LIABILITIES (A + B + C +
D + E + F) |
622.128,81 |
600.646,12 |
584.392,55 |
Liabilities Composition
PROFIT
AND LOSS ACCOUNT
Itams of the Profit and Loss Account
Figures given in €
|
|
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
A) EXPENSES (A.1 a A.15) |
464.356,08 |
374.321,82 |
215.323,71 |
|
A.1.Operating costs |
271.383,23 |
209.259,91 |
65.585,50 |
|
A.2. Labour cost |
46.543,48 |
51.277,97 |
45.677,85 |
|
Wages |
44.548,58 |
48.066,12 |
41.777,45 |
|
Social security expenses |
1.994,90 |
3.211,85 |
3.900,40 |
|
A.3. Assets depreciation |
19.518,75 |
17.118,61 |
17.909,00 |
|
A.4. Variation in
provision for current assets |
7.480,92 |
2.830,97 |
859,40 |
|
A.5. Other operating
costs |
83.371,22 |
71.703,03 |
73.121,35 |
|
A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
76.890,18 |
38.354,96 |
1.304,04 |
|
A.6.Financial expenses
and similar |
15.900,63 |
15.001,30 |
15.254,00 |
|
Debts with related companies |
|
|
|
|
Debts with associated companies |
|
|
|
|
Other companies debts By debts with third
parties and similar expenses |
15.900,63 |
15.001,30 |
15.254,00 |
|
Losses from financial investments |
|
|
|
|
A.7. Variation in
financial investment provision |
2.406,51 |
|
|
|
A.8.Negative exchange
difference |
|
|
|
|
A.II.POSITIVE FINANCIAL
RESULTS (B.2+B.3-A.6-A.7-A.8) |
|
|
|
|
A.III.PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
59.171,13 |
23.766,78 |
|
|
A.9. Variation in provision in fixed assets |
|
|
|
|
A.10. Losses in fixed assets |
|
|
|
|
A.11. Losses from own shares and bonds |
|
|
|
|
A.12. Extraordinary charges |
|
|
|
|
A.13.Other exercises’ expenses and losses |
|
|
|
|
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) |
|
|
|
|
A.V.PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
59.171,13 |
23.766,78 |
|
|
A.14.Corporate Taxes |
17.751,34 |
7.130,03 |
-3.083,39 |
|
A.15. Other taxes |
|
|
|
|
A.VI.EXERCISE RESULT (PROFIT) (A.V-A.14-A.15) |
41.419,79 |
16.636,75 |
|
|
B) INCOMES (B.1 a B.8) |
505.775,87 |
390.958,57 |
204.695,54 |
|
B.1.Operating income |
505.187,78 |
390.545,45 |
204.457,14 |
|
Turnover |
505.187,78 |
389.814,50 |
204.457,14 |
|
Other operating income |
|
730,95 |
|
|
B.I.OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
|
B.2.Financial Income |
343,13 |
413,12 |
238,40 |
|
From affiliated companies |
|
|
|
|
From associated companies |
|
|
|
|
Other |
343,13 |
413,12 |
238,40 |
|
Gains from investments |
|
|
|
|
B.3. Positive change
difference |
244,96 |
|
|
|
B.II. NEGATIVE FINANCIAL RESULTS (A.6+A.7+A.8-B.2-B.3) |
17.719,05 |
14.588,18 |
15.015,60 |
|
B.III.LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
13.711,56 |
|
B.4.B.9. Gains from disposal of fixed assets |
|
|
|
|
B.5.Gains from dealing in own shares |
|
|
|
|
B.6. Paid in surplus |
|
|
|
|
B.7. Extraordinary income |
|
|
|
|
B.8.Other year’s income and profits |
|
|
|
|
B.IV.NEGATIVE EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
|
|
|
B.V.LOSS BEFORE TAXES (B.III+B.IV-A.III-A.IV) |
|
|
13.711,56 |
|
B.VI.EXERCISE RESULTS (LOSS) (B.V+A.14+A.15) |
|
|
10.628,17 |
Composition of the Profit and Loss Account
FINANCIAL
BALANCE
Here the Main Capital Amounts of the company and
the Revolving Fund Evolution are analysed.
Financial Balance Table
Figures given in €
|
|
31/12/2004 (12) |
% |
31/12/2005 (12) |
% |
31/12/2006 (12) |
% |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
|
|
B) FIXED ASSETS |
398.312,81 |
64,02 |
381.478,67 |
63,51 |
400.332,52 |
68,50 |
|
C) DEFERRED EXPENSES |
28.039,65 |
4,51 |
25.333,66 |
4,22 |
22.474,62 |
3,85 |
|
D) CURRENT ASSETS |
195.776,35 |
31,47 |
193.833,79 |
32,27 |
161.585,41 |
27,65 |
|
ASSETS (A + B + C + D) |
622.128,81 |
|
600.646,12 |
|
584.392,55 |
|
|
|
||||||
|
A) SHAREHOLDERS EQUITY |
100.288,43 |
16,12 |
116.925,18 |
19,47 |
106.297,01 |
18,19 |
|
B) DEFERRED INCOME |
|
|
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
|
|
D) LONG TERM LIABILITIES |
122.700,89 |
19,72 |
116.120,29 |
19,33 |
109.377,92 |
18,72 |
|
E) SHORT TERM LIABILITIES |
399.139,49 |
64,16 |
367.600,65 |
61,20 |
368.717,62 |
63,09 |
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
622.128,81 |
|
600.646,12 |
|
584.392,55 |
|
Financial Balance Composition
Comments on Financial Balance
In the 2004, the assets of the company were
formed in 68,53% of Fixed Assets and in 31,47% of Current Assets.This assets
were financed in 16,12% with own capitals, and in 19,72% with long term debt
and in 64,16% with current liabilities.
The result of this financial structure is a
negative turnover fund of -203.363,14 Euros, which is equivalent to -32,69%
proportion of the company’s total assets.
In the 2005, the assets of the company were
formed in 67,73% of Fixed Assets and in 32,27% of Current Assets.This assets
were financed in 19,47% with own capitals, and in 19,33% with long term debt
and in 61,20% with current liabilities.
The result of this financial structure is a
negative turnover fund of -173.766,86 Euros, which is equivalent to -28,93%
proportion of the company’s total assets.
This measure has increased with respect to the
previous exercise in 14,55% having also increased its proportion with respect
to the total assets of the company.
In the 2006, the assets of the company were
formed in 72,35% of Fixed Assets and in 27,65% of Current Assets.This assets
were financed in 18,19% with own capitals, and in 18,72% with long term debt
and in 63,09% with current liabilities.
The result of this financial structure is a
negative turnover fund of -207.132,21 Euros, which is equivalent to -35,44%
proportion of the company’s total assets.
This measure has diminished with respect to the
previous exercise in 19,20% having also diminished its proportion with respect
to the total assets of the company.
RATIOS
Main Ratios
|
|
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
STRUCTURAL RATIOS |
|
|
|
|
Management fund |
-203.363,14 |
-173.766,86 |
-207.132,21 |
|
Indebtedness (%) |
83,88 |
80,53 |
81,81 |
|
External Funds on Net Worth |
5,20 |
4,14 |
4,50 |
|
GENERAL ACTIVITY RATIO |
|
|
|
|
Turnover Increase (%) |
1,00 |
-22,84 |
-47,55 |
|
Added value growth (%) |
31,65 |
-27,16 |
-40,00 |
|
Cash Flow |
70.825,97 |
36.586,33 |
8.140,23 |
|
Labour Productivity |
3,23 |
2,14 |
1,44 |
|
Assets turnover |
0,81 |
0,65 |
0,35 |
|
Breakdown Point |
339.049,10 |
307.916,93 |
202.537,23 |
|
Security Margin of the Breakdown Point (%) |
32,89 |
21,16 |
0,94 |
|
ACTIVITY RATIOS |
|
|
|
|
Average Collection Period |
102 |
109 |
145 |
|
Inventory Turnover Period |
30 |
26 |
81 |
|
SOLVENCY RATIOS |
|
|
|
|
Payback Capacity |
0,14 |
0,08 |
0,02 |
|
Assets Guarantee |
1,14 |
1,19 |
1,18 |
|
Short Term Debts Proportion (%) |
76,49 |
75,99 |
77,12 |
|
Interest Coverage |
4,27 |
2,41 |
0,52 |
|
LIQUIDITY RATIOS |
|
|
|
|
Current Ratio |
0,49 |
0,53 |
0,44 |
|
Immediate liquidity |
0,03 |
0,13 |
0,09 |
|
Sales on Current Assets |
929 |
724 |
456 |
Results Analysis Ratios
|
|
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
Economic profitability (%) |
12,36 |
6,39 |
0,22 |
|
Operating Profitability (%) |
15,22 |
9,84 |
0,64 |
|
Equity gearing |
4,77 |
3,18 |
-57,81 |
|
Financial profitability (%) |
41,30 |
14,23 |
-10,00 |
|
General Profitability (%) |
8,20 |
4,27 |
-5,20 |
Comments on the Results Analysis Ratios
The economic profitability in the year2005
achieved a 6,39% positive level, due to a 9,84% economic margin and to an
assets turnover of0,65%.
The economic profitability in the year has reduced
from 12,36% up to 6,39% of2005, even if it remains positive. This fall is due
to the decrease in operating profitability, that has passe from 15,22% to
9,84%, as assets turnover whose index has passed from 0,81 to 0,65%.
Financial profitability on 2005 achieved a
14,23%.
The company’s financial structure has instigated
its economic profitability with an indebtedness level of 3,18.
The general profitability on 2005 achieved a
4,27%.
The economic profitability in the year2006
achieved a 0,22% positive level, due to a 0,64% economic margin and to an
assets turnover of0,35%.
The economic profitability in the year has
reduced from 6,39% up to 0,22% of2006, even if it remains positive. This fall
is due to the decrease in operating profitability, that has passe from 9,84% to
0,64%, as assets turnover whose index has passed from 0,65 to 0,35%.
Financial profitability on 2006The economic
profitability in the year -10,00
The company’s financial structure has endangered
its profitability with an indebtedness level -57,81.
The general profitability on 2006The economic
profitability in the year -5,20
SECTORIAL
ANÁLYSIS
Large Capital Amounts and Financial Balance
Figures given in %
|
|
COMPANY (2006) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
0,07 |
|
|
|
|
|
|
|
|
B) FIXED ASSETS |
68,50 |
27,90 |
40,60 |
145,48 |
|
|
|
|
|
|
C) DEFERRED EXPENSES |
3,85 |
0,39 |
3,46 |
877,16 |
|
|
|
|
|
|
D) CURRENT ASSETS |
27,65 |
71,63 |
-43,98 |
-61,40 |
|
|
|
|
|
|
ASSETS (A + B + C + D) |
100 |
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2006) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
A) SHAREHOLDERS EQUITY |
18,19 |
37,11 |
-18,92 |
-50,98 |
|
|
|
|
|
|
B) DEFERRED INCOME |
|
0,37 |
|
|
|
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
0,10 |
|
|
|
|
|
|
|
|
D) LONG TERM LIABILITIES |
18,72 |
13,57 |
5,15 |
37,96 |
|
|
|
|
|
|
E) SHORT TERM LIABILITIES |
63,09 |
48,78 |
14,31 |
29,34 |
|
|
|
|
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
0,08 |
|
|
|
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
100 |
100 |
|
|
|
|
|
|
|
Sectorial Financial Balance Comparison
Comments to the Sectorial Analysis
In the 2006, the assets of the company were
formed in 72,35% of fixed assets and in 27,65Current Assets % In the sector,
the proportion of fixed assets was of 28,37%, 155,05% inferior, and the
proportion of current assets was of 71,63%, 61,40% superior.
The assets were financed in the company in
18,19% with own capitals , in 18,72% with fixed liabilities and in 63,09% with
current liabilities In the sector, the self financing represented 37,47%,
51,46% superior. On the other hand the long term debts represented in the
sector an average of 13,67% financing, with a relative difference of 36,94% in
favour of the companyAnd, short term liabilities represented in the sector an
average of 48,86% financing, with a relative difference of 29,13% in favour of
the company
The result of this company’s financial structure
is a turnover fund that represents -35,44% of the total assets; in the sector,
this same proportion is 22,78%, therefore, we can say that the company’s
turnover fund is 255,60% smaller than the sector one.
Analytical Account of Results
Figures given in %
|
|
COMPANY (2006) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
|
Turnover |
100,00 |
98,82 |
1,18 |
1,20 |
|
Other operating income |
|
1,18 |
|
|
|
Production Value |
100,00 |
100,00 |
0,00 |
0,00 |
|
Operating expenses |
32,08 |
66,55 |
-34,47 |
-51,80 |
|
Other operation expenses |
35,76 |
13,40 |
22,36 |
166,95 |
|
Added value |
32,16 |
20,05 |
12,11 |
60,40 |
|
Labour cost |
22,34 |
14,67 |
7,67 |
52,25 |
|
Gross Economic Result |
9,82 |
5,38 |
4,44 |
82,63 |
|
Assets depreciation |
8,76 |
1,58 |
7,18 |
454,08 |
|
Variation in provision for current assets and bad debt losses |
0,42 |
0,18 |
0,24 |
127,03 |
|
Net Economic Result |
0,64 |
3,61 |
-2,97 |
-82,27 |
|
Financial income |
0,12 |
0,37 |
-0,25 |
-67,83 |
|
Financial Charges |
7,46 |
1,40 |
6,06 |
433,62 |
|
Variation in financial investment provision |
|
0,00 |
|
|
|
Ordinary Activities Result |
-6,71 |
2,58 |
-9,29 |
-359,67 |
|
Extraordinary income |
|
0,65 |
|
|
|
Extraordinary charges |
|
0,17 |
|
|
|
Variation in provision in fixed assets |
|
0,00 |
|
|
|
Results before Taxes |
-6,71 |
3,06 |
-9,77 |
-319,07 |
|
Corporate taxes |
-1,51 |
0,88 |
-2,39 |
-270,81 |
|
Net Result |
-5,20 |
2,18 |
-7,38 |
-338,64 |
|
Assets depreciation |
8,76 |
1,58 |
7,18 |
454,08 |
|
Change of Provisions |
0,42 |
0,19 |
0,23 |
119,90 |
|
Net Self-Financing |
3,98 |
3,95 |
0,03 |
0,71 |
Main
Ratios
|
|
COMPANY (2006) |
PTILE25 |
PTILE50 |
PTILE75 |
|
STRUCTURAL RATIOS |
|
|
|
|
|
Management fund |
-207.132,21 |
14,07 |
79,92 |
213,78 |
|
Indebtedness (%) |
81,81 |
50,48 |
70,90 |
84,93 |
|
External Funds on Net Worth |
4,50 |
1,02 |
2,44 |
5,64 |
|
GENERAL ACTIVITY RATIO |
|
|
|
|
|
Turnover Increase (%) |
-47,55 |
-10,06 |
0,34 |
11,18 |
|
Added value growth (%) |
-40,00 |
-8,16 |
3,00 |
16,20 |
|
Cash Flow |
8.140,23 |
7,65 |
20,38 |
47,02 |
|
Labour Productivity |
1,44 |
1,14 |
1,30 |
1,61 |
|
Assets turnover |
0,35 |
0,97 |
1,47 |
2,10 |
|
Breakdown Point |
202.537,23 |
313.403,56 |
651.298,66 |
1.192.759,02 |
|
Security Margin of the Breakdown Point (%) |
0,94 |
3,74 |
8,94 |
16,51 |
|
ACTIVITY RATIOS |
|
|
|
|
|
Average Collection Period |
145 |
30 |
68 |
114 |
|
Inventory Turnover Period |
81 |
22 |
60 |
128 |
|
SOLVENCY RATIOS |
|
|
|
|
|
Payback Capacity |
0,02 |
0,03 |
0,07 |
0,14 |
|
Assets Guarantee |
1,18 |
1,17 |
1,40 |
1,97 |
|
Short Term Debts Proportion (%) |
77,12 |
73,96 |
94,93 |
100,00 |
|
Interest Coverage |
0,52 |
0,77 |
2,79 |
9,67 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio |
0,44 |
1,08 |
1,35 |
1,96 |
|
Immediate liquidity |
0,09 |
0,04 |
0,16 |
0,45 |
|
Sales on Current Assets |
456 |
475 |
703 |
1.011 |
Results Analysis Ratios
|
|
COMPANY (2006) |
PTILE25 |
PTILE50 |
PTILE75 |
|
Economic profitability (%) |
0,22 |
1,76 |
4,09 |
7,79 |
|
Operating Profitability (%) |
0,64 |
1,22 |
2,84 |
5,52 |
|
Equity gearing |
-57,81 |
1,33 |
2,23 |
4,21 |
|
Financial profitability (%) |
-10,00 |
2,70 |
7,63 |
16,46 |
|
General Profitability (%) |
-5,20 |
0,49 |
1,28 |
3,08 |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
|
UK Pound |
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.63.83 |
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%)