MIRA
INFORM REPORT
|
Report Date : |
31.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CHAVES BILBAO SA |
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|
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|
Registered Office : |
Calle Bizcargi Kalea (Pg Ind
Sarrikola ), 6 48195 Larrabetzu (Vizcaya) |
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Country : |
Spain |
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|
Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
03.09.1966 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of hardware, plumbing and heating equipment and supplies |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Litigation : |
Clear |
name of the company
CHAVES BILBAO SA
TAX NUMBER: A48044473
Identification and Characteristics
|
TAX NUMBER |
A48044473 |
|
NAME |
CHAVES BILBAO SA |
|
ANAGRAM |
CHAVESBAO |
|
BUSINESS
ADDRESS |
CALLE BIZCARGI KALEA (PG IND
SARRIKOLA ), 6 |
|
Postcode |
48195 LARRABETZU (Vizcaya) |
|
FORMER
ADDRESS |
POLIGONO IND SANTA ANA DE BOLUETA CL
TELLERILLE, 29 |
|
Postcode |
48004 BILBAO (Vizcaya) |
|
URL |
http://www.chavesvabo.com |
|
TELEPHONE |
944123199 |
|
FAX |
944868303 |
|
LEGAL FORM |
JOINT STOCK COMPANY |
|
DATE FOUNDED |
03/09/1966 |
|
CAPITAL |
240.400,00 Euros |
|
PAID-UP CAPITAL |
240.400,00 Euros |
|
NUMBER OF
EMPLOYEES |
48 |
|
ACTIVITY |
1615700 - Comercio al por mayor
de ferreteria, fontaneria y calefaccion |
|
CNAE |
5154 - Wholesale of hardware, plumbing
and heating equipment and supplies |
|
IMPORT COMPANY |
YES |
|
* Characteristics of the main address |
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|
According to our investigations
dated 18/10/2005 these premises are used as store
. |
|
Synthesis
|
FINANCIAL SITUATION (Year ending: 31/12/2005) |
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|
|
|
|
|
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PROFITABILITY |
Medium |
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TREASURY |
Excellent |
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BALANCE SHEET |
Excellent |
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DEBT |
Low |
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|
INCIDENTS |
|
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|
|
|
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COMMITMENTS |
Respected |
|
|
INCIDENTS |
None or Negligible |
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PREVIOUS EXPERIENCE |
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|
|
|
|
|
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PREVIOUS EXPERIENCE |
Very favourable |
|
Credit Appraisal
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros):
FAVOURABLE TOWARDS 559.999,04
Max.
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Estimate 2.006
(12) |
|
|
SALES |
11.260.566,11 |
12.517.384,97 |
12.892.906,49 |
|
|
ADDED VALUE |
2.269.720,04 |
2.348.754,74 |
|
|
|
BUSINESS RESULT |
749.238,66 |
569.956,72 |
|
|
|
OWN FUNDS |
5.789.266,08 |
6.359.222,80 |
|
|
|
DEBT |
5.293.635,38 |
5.858.102,93 |
|
|
|
TOTAL ASSET |
11.169.434,49 |
12.293.045,06 |
|
|
|
The sales of 12.517.384,97
Euros show a change of 11,16% compared with
2.004 . |
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|
Added value grew by 3,48%
compared with the previous year. Shareholders equity are 6.359.222,80
Euros for an indebtedness of 5.858.102,93 Euros
. |
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|
The result 569.956,72
Euros means financial profitability of 8,96% and
economic profitability of 4,64% . This result means growth of
-23,93% 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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DATE: 22/09/2006 |
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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 |
569.957 |
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|
Total of Amounts to be
distributed |
569.957 |
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|
Distribution a |
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Other funds |
569.957 |
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|
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Auditors’ opinion: |
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FAVOURABLE (2.005) |
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Auditors: |
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PRICEWATERHOUSECOOPERS AUDITORES SL |
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Comparative Sector Analysis
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|
Company |
Sector |
Difference |
|
|
(2.005) |
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|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
100,00 |
99,12 |
0,88 |
|
ADDED VALUE |
18,76 |
14,14 |
4,62 |
|
BUSINESS RESULT |
4,55 |
3,27 |
1,28 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN FUNDS |
51,73 |
38,43 |
13,30 |
|
DEBT |
47,65 |
61,57 |
-13,92 |
Compared sector (CNAE): 515 - Wholesale of
non-agricultural intermediate products, waste and scrap
Number of companies: 889
Size (Sales Figure): 7.000.000,00 -
40.000.000,00 Euros
The turnover of the company is 0,88%
above the mean for the sector.
The company’s added value was 18,76%
s/ the production value, and 4,62% above the mean for the sector.
The company’s business result was
4,55% of the PV, 1,28% above the mean for the sector.
The company’s own resources are 51,73%
, 13,30% above the mean for the sector.
The company’s outside resources are
47,65% , 13,92% below 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
|
Position |
Surname and name |
Date of
appointment |
|
CHAIRMAN |
CAMARA SALAZAR LUIS MIGUEL |
26/04/2007 |
|
ADMINISTRATOR |
CAMARA VALLEJO JUAN |
26/04/2007 |
|
ADMINISTRATOR |
GARCIA CAMARA RICARDO |
26/04/2007 |
|
ADMINISTRATOR |
GARCIA CAMARA MIGUEL ANGEL |
26/04/2007 |
|
ADMINISTRATOR |
VILLANO CAMARA FELIPE |
26/04/2007 |
|
ADMINISTRATOR |
CAMARA SALAZAR MARIA LORETO |
26/04/2007 |
|
AUDITOR |
PRICEWATERHOUSECOOPERS AUDITORES SOCIEDAD
LIMITADA |
29/12/2006 |
Functional Managers
|
Position |
Surname and name |
|
GENERAL MANAGER |
CAMARA VALLEJO URBANO |
|
FINANCIAL MANAGER |
GARCIA MIGUEL ANGEL |
|
EXPORTS MANAGER |
CAMARA SALAZAR LUIS MIGUEL |
Financial Links
|
Shareholders |
||||
|
Company Name |
CIF/Country |
|
Source |
Information Date |
|
SENOTEN SA |
A48245294 |
60,00% |
OWN SOURCES |
30/01/2008 |
|
CHAVES BILBAO SA |
A48044473 |
0,74% |
OWN SOURCES |
16/02/2007 |
|
CAMARA VALLEJO JESUS |
|
Indet. |
OWN SOURCES |
16/02/2007 |
|
GARCIA RELLOSO JESUS |
|
Indet. |
OWN SOURCES |
16/02/2007 |
|
CAMARA VALLEJO URBANO |
|
Indet. |
OWN SOURCES |
16/02/2007 |
|
CAMARA VALLEJO JUAN |
|
Indet. |
OWN SOURCES |
16/02/2007 |
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Shareholdings |
||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
CHAVES BILBAO SA |
A48044473 |
0,74% |
OWN SOURCES |
16/02/2007 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Appointments |
03/05/2007 |
244996 |
Vizcaya |
|
Resignations |
26/04/2007 |
237905 |
Vizcaya |
|
Appointments |
26/04/2007 |
237905 |
Vizcaya |
|
Re-elections |
29/12/2006 |
628619 |
Vizcaya |
|
Registration of accounts
(2005) |
31/08/2006 |
292773 |
Vizcaya |
Remarks for customer
Here is our final report. Eventhough this company
is obliged to file its balance sheet in the Mercantile Register, no official
balance sheet is available for 2006.Linked by its board members to ALU STOCK SA
(A01326248);VIZCAINA DE INDUSTRIA Y COMERCIO SA (A48108021);
Brands, Signs and Commercial
Names
|
Prevailing Brands |
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|
Name: |
CHAVESBAO |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2329674 |
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|
Request Date: |
03/07/2000 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
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Types: 6
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Total Marcas: 1
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Commercial Experience |
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|
General Information |
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Foundation Year 1966 |
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Founder LA TITULAR ES LA
FUNDADORA INICICAL DEL NEGOCIO |
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Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO DE VASCONIA, S.A. |
4710 |
MARQUES PUERTO,
3 |
BILBAO |
Vizcaya |
|
BANCO ZARAGOZANO |
0118 |
GRAN VIA LOPEZ
HARO, 44 |
BILBAO |
Vizcaya |
|
CAJA LABORAL POPULAR C.C. |
0083 |
GRAN VIA, 2 |
BILBAO |
Vizcaya |
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BANCO BILBAO VIZCAYA ARGENTARIA, 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 22/09/2006
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2003 (12) |
31/12/2004 (12) |
31/12/2005 (12) |
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
3.008.217,56 |
2.748.953,91 |
3.121.661,88 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
29.896,21 |
22.863,79 |
20.690,96 |
|
|
Software |
|
35.162,09 |
40.070,09 |
|
|
Leasing |
35.162,09 |
|
|
|
|
Amortization |
-5.265,88 |
-12.298,30 |
-19.379,13 |
|
|
III. Tangible assets |
2.956.486,76 |
2.704.452,41 |
3.077.696,39 |
|
|
Property, plant and equipment |
2.052.436,28 |
2.052.436,28 |
2.052.436,28 |
|
|
Machinery, equipment and other |
1.275.316,56 |
1.286.909,82 |
1.918.847,62 |
|
|
Other property plant and equipement |
46.780,38 |
52.027,59 |
55.500,09 |
|
|
Other assets |
116.371,05 |
127.197,14 |
135.338,25 |
|
|
Depreciation |
-534.417,51 |
-814.118,42 |
-1.084.425,85 |
|
|
IV. Financial assets |
8.705,67 |
8.508,79 |
10.145,61 |
|
|
Securities |
8.705,67 |
8.508,79 |
10.145,61 |
|
|
V. Owners equity |
13.128,92 |
13.128,92 |
13.128,92 |
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
6.770.208,29 |
8.420.480,58 |
9.171.383,18 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
2.419.311,93 |
2.959.944,86 |
3.352.327,56 |
|
|
Goods available for sale |
2.419.311,93 |
2.959.944,86 |
3.352.327,56 |
|
|
III. Debtors |
4.295.570,96 |
5.400.235,72 |
5.460.260,23 |
|
|
Clients |
4.383.723,19 |
2.984.064,12 |
3.406.529,77 |
|
|
Amounts owned by affiliated companies |
134.268,86 |
2.585.139,00 |
2.242.082,00 |
|
|
Other debts |
10.015,47 |
|
|
|
|
Taxes refunds |
10.728,84 |
84.315,81 |
70.750,66 |
|
|
Provisions |
-243.165,40 |
-253.283,21 |
-259.102,20 |
|
|
IV. Short term financial assets |
37,98 |
40,06 |
306.854,09 |
|
|
Receivables in affiliated companies |
|
|
305.854,09 |
|
|
Short term investment |
|
|
1.000,00 |
|
|
Other loans |
37,98 |
40,06 |
|
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
52.477,73 |
59.947,00 |
50.544,14 |
|
|
VII. Prepaid expenses and accrued income |
2.809,69 |
312,94 |
1.397,16 |
|
|
ASSETS (A + B + C + D) |
9.778.425,85 |
11.169.434,49 |
12.293.045,06 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12) |
31/12/2004 (12) |
31/12/2005 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
5.040.027,42 |
5.789.266,08 |
6.359.222,80 |
|
|
I. Capital |
240.400,00 |
240.400,00 |
240.400,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
44.450,86 |
44.450,86 |
44.450,86 |
|
|
IV. Reserves |
4.257.436,76 |
4.755.176,56 |
5.504.415,22 |
|
|
Retained earnings |
48.080,97 |
48.080,97 |
48.080,97 |
|
|
Sinking fund from owner equity |
13.128,92 |
13.128,92 |
13.128,92 |
|
|
Other funds |
4.196.222,03 |
4.693.961,83 |
5.443.200,49 |
|
|
Capital adjustments in Euros |
4,84 |
4,84 |
4,84 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
497.739,80 |
749.238,66 |
569.956,72 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
98.307,22 |
86.533,03 |
75.719,33 |
|
|
Capital grants |
98.307,22 |
86.533,03 |
75.719,33 |
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
2.422.000,35 |
2.201.445,84 |
2.298.777,24 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
2.422.000,35 |
2.201.445,84 |
2.298.777,24 |
|
|
Long term bank loans |
2.422.000,35 |
2.201.445,84 |
2.298.777,24 |
|
|
III. Debts with associed and affiliated companies |
|
|
|
|
|
IV. Other creditors |
|
|
|
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
2.218.090,86 |
3.092.189,54 |
3.559.325,69 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
1.358.160,76 |
1.984.861,46 |
2.131.993,99 |
|
|
Loans and other debts |
1.352.216,76 |
1.979.548,98 |
2.124.496,11 |
|
|
Debt interest |
5.944,00 |
5.312,48 |
7.497,88 |
|
|
III. Short term debts with associated and affiliated companies |
241.123,83 |
179.524,56 |
72.787,59 |
|
|
With affiliated companies |
241.123,83 |
179.524,56 |
72.787,59 |
|
|
IV. Trade creditors |
394.524,12 |
554.317,73 |
537.919,64 |
|
|
Expenses |
394.524,12 |
554.317,73 |
537.919,64 |
|
|
V. Other non trade payables |
224.282,15 |
373.485,79 |
816.624,47 |
|
|
Government |
95.917,41 |
248.747,93 |
272.634,15 |
|
|
Other debts |
128.364,74 |
124.737,86 |
543.990,32 |
|
|
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) |
9.778.425,85 |
11.169.434,49 |
12.293.045,06 |
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) |
8.374.086,42 |
10.643.141,46 |
12.022.673,71 |
|
|
A.1. Change in stocks of finished goods and work in progress |
|
|
|
|
|
A.2. Supplies |
6.010.033,60 |
7.880.155,29 |
9.084.351,53 |
|
|
Material consumed |
5.976.712,98 |
7.790.583,24 |
9.023.117,73 |
|
|
Raw materials consumed |
18.727,54 |
63.142,53 |
38.687,31 |
|
|
Other expenses |
14.593,08 |
26.429,52 |
22.546,49 |
|
|
A.3. Labor cost |
804.786,02 |
935.334,01 |
1.082.583,50 |
|
|
Wages |
640.228,28 |
760.309,22 |
876.758,89 |
|
|
Social security expenses |
164.557,74 |
175.024,79 |
205.824,61 |
|
|
A.4. Assets depreciation |
286.844,03 |
286.733,33 |
277.388,26 |
|
|
A.5 Variance in provision for current assets |
-15.508,42 |
10.117,81 |
5.818,99 |
|
|
Variance in provision for bad debts |
-15.508,42 |
10.117,81 |
5.818,99 |
|
|
A.6. Other operating costs |
917.116,50 |
1.116.526,58 |
1.084.278,70 |
|
|
External costs |
909.857,13 |
1.113.636,75 |
1.080.079,48 |
|
|
Taxes |
7.259,37 |
2.889,83 |
4.199,22 |
|
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
498.738,80 |
1.037.534,89 |
982.963,99 |
|
|
A.7. Financial expenses |
130.158,80 |
131.067,15 |
132.968,28 |
|
|
Debts with related companies |
|
496,79 |
1.127,48 |
|
|
Other companies debts |
130.158,80 |
130.570,36 |
131.840,80 |
|
|
A.8. Variation in financial investments provision |
|
|
|
|
|
A.9. Exchange losses |
179.568,28 |
119.347,85 |
112.236,11 |
|
|
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) |
311.526,07 |
865.772,20 |
797.809,88 |
|
|
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 |
90,00 |
|
|
|
|
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) |
247.211,34 |
47.325,90 |
15.195,18 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
558.737,41 |
913.098,10 |
813.005,06 |
|
|
A.15. Corporate Taxes |
60.997,61 |
163.859,44 |
243.048,34 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT) (A.V-A.15-A.16) |
497.739,80 |
749.238,66 |
569.956,72 |
|
|
B) INCOMES (B.1 a B13) |
8.871.826,22 |
11.392.380,12 |
12.592.630,43 |
|
|
B.1. Turnover |
8.486.697,62 |
11.260.566,11 |
12.517.384,97 |
|
|
Sales |
8.486.697,62 |
11.249.735,53 |
12.506.086,13 |
|
|
Services provided |
|
10.830,58 |
11.298,84 |
|
|
B.2. Increase in inventory of finished goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
15.312,91 |
5.835,80 |
|
|
|
Other incomes |
5.167,92 |
5.385,80 |
|
|
|
Grants |
10.144,99 |
450,00 |
|
|
|
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 |
975,73 |
1.050,09 |
1.193,11 |
|
|
From other companies |
975,73 |
1.050,09 |
1.193,11 |
|
|
B.6. Income from securities |
|
|
|
|
|
B.7. Other income from interrest |
7.038,92 |
8.072,35 |
10.145,19 |
|
|
From affiliated companies |
|
|
5.854,09 |
|
|
From other companies |
7.038,92 |
8.072,35 |
4.291,10 |
|
|
B.8. Gains on exchange |
114.499,70 |
69.529,87 |
48.711,98 |
|
|
B.II. FINANCIAL LOSSES (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
187.212,73 |
171.762,69 |
185.154,11 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
240.122,28 |
|
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
6.606,06 |
11.774,19 |
10.813,70 |
|
|
B.12. Extraordinary income |
573,00 |
35.551,71 |
4.381,48 |
|
|
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 |
-1,18 |
32,69 |
11,16 |
|
|
Assets Turnover |
0,87 |
1,01 |
1,02 |
|
|
Productivity |
1,96 |
2,43 |
2,17 |
|
|
Increase of the Added Value |
20,08 |
44,12 |
3,48 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
5,09 |
6,71 |
4,64 |
|
|
Financial Profitability |
9,88 |
12,94 |
8,96 |
|
|
Financial Expenses |
1,53 |
1,16 |
1,06 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
182,00 |
173,00 |
157,00 |
|
|
Suppliers’ Credit (In days of sales) |
24,00 |
25,00 |
21,00 |
|
|
Working Capital (In days of sales) |
193,00 |
170,00 |
161,00 |
|
|
Working Capital Requirement (In days of
sales) |
248,00 |
232,00 |
212,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
4.552.117,43 |
5.328.291,04 |
5.612.057,49 |
|
|
Working Capital Requirement |
5.857.762,48 |
7.253.165,44 |
7.386.653,25 |
|
|
Treasury |
-1.305.645,05 |
-1.924.874,40 |
-1.774.595,76 |
|
|
Balance Ratio |
2,51 |
2,94 |
2,80 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
47,45 |
47,39 |
47,65 |
|
|
Own / Permanent Funds |
66,66 |
71,67 |
72,81 |
|
|
Payback Capacity |
0,53 |
0,46 |
0,46 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
3,05 |
2,72 |
2,58 |
|
|
Immediate Liquidity |
0,02 |
0,02 |
0,10 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Assets |
|||
|
A) DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,01 |
-0,01 |
|
B) FIXED ASSETS |
25,39 |
26,96 |
-1,57 |
|
C) ACCRUED EXPENSES |
0,00 |
0,33 |
-0,33 |
|
D) CURRENT ASSETS |
74,61 |
72,67 |
1,94 |
|
TOTAL ASSETS (A + B + C
+ D) |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
A) SHAREHOLDERS EQUITY |
51,73 |
38,43 |
13,30 |
|
B) ACCRUED INCOME |
0,62 |
0,19 |
0,43 |
|
C) RISK AND EXPENDITURE
COVER |
0,00 |
0,61 |
-0,61 |
|
D) LONG-TERM CREDITORS |
18,70 |
8,08 |
10,62 |
|
E) SHORT-TERM CREDITORS |
28,95 |
52,66 |
-23,71 |
|
F) SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,01 |
-0,01 |
|
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 |
|
|
2.005 |
|
|
|
Net turnover |
100,00 |
99,12 |
0,88 |
|
Other operating income |
0,00 |
0,87 |
-0,87 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
72,57 |
77,70 |
-5,13 |
|
Other operation expenses |
8,66 |
8,14 |
0,52 |
|
Added value |
18,76 |
14,14 |
4,62 |
|
Labor cost |
8,65 |
7,53 |
1,12 |
|
Gross Economic Result |
10,12 |
6,60 |
3,52 |
|
Assets depreciation |
2,22 |
1,27 |
0,95 |
|
Variation in provision
for current assets |
0,05 |
0,32 |
-0,27 |
|
Net Economic Result |
7,85 |
4,99 |
2,86 |
|
Financial income |
0,48 |
0,63 |
-0,15 |
|
Financial expenses |
1,96 |
0,83 |
1,13 |
|
Variation in financial
investment provision |
0,00 |
0,01 |
-0,01 |
|
Ordinary Activities
Result |
6,37 |
4,78 |
1,59 |
|
Extraordinary income |
0,12 |
0,52 |
-0,40 |
|
Extraordinary expenses |
0,00 |
0,46 |
-0,46 |
|
Variation in provision
in fixed assets |
0,00 |
0,05 |
-0,05 |
|
Results before Taxes |
6,50 |
4,78 |
1,72 |
|
Corporaye taxes |
1,94 |
1,50 |
0,44 |
|
Net Result |
4,55 |
3,27 |
1,28 |
|
Assets depreciation |
2,22 |
1,27 |
0,95 |
|
Provisions fund
variation |
0,05 |
0,39 |
-0,34 |
|
Net Self-Financing |
6,82 |
4,95 |
1,87 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
11,16 |
0,30 |
8,46 |
18,06 |
|
Assets Turnover |
1,02 |
1,25 |
1,64 |
2,21 |
|
Fixed Assets Turnover |
4,01 |
4,48 |
8,85 |
21,01 |
|
Increase of the Added
Value |
3,48 |
-7,30 |
5,63 |
18,74 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
2,17 |
1,47 |
1,80 |
2,41 |
|
Change of Personnel
Costs |
15,74 |
2,84 |
9,03 |
16,62 |
|
Average Personnel Costs |
34.922,05 |
23.270,00 |
28.940,00 |
36.200,00 |
|
Value Added by Employees |
75.766,28 |
39.590,00 |
53.510,00 |
78.660,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
853.163,97 |
252.210,00 |
522.640,00 |
936.030,00 |
|
Operating Cash Flow |
1.266.171,24 |
349.170,00 |
697.380,00 |
1.237.270,00 |
|
Change in Cash Flow |
-18,44 |
-21,04 |
2,36 |
27,48 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
4,64 |
1,88 |
4,07 |
7,47 |
|
Financial Profitability |
8,96 |
7,45 |
12,64 |
20,70 |
|
Financial Expenses |
1,06 |
0,30 |
0,62 |
1,05 |
|
Gross Economic
Profitability |
10,30 |
5,80 |
9,15 |
13,44 |
|
Gross Financial
Profitability |
19,91 |
18,99 |
30,58 |
44,21 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
157,00 |
70,09 |
102,73 |
130,12 |
|
Suppliers’ Credit (In
days of sales) |
21,00 |
28,58 |
68,78 |
111,31 |
|
Working Capital (In days
of sales) |
161,00 |
10,09 |
36,07 |
71,01 |
|
Working Capital
Requirement (In days of sales) |
212,00 |
22,39 |
60,69 |
100,23 |
|
Treasury (In days of
sales) |
0,00 |
-49,79 |
-8,73 |
11,33 |
|
Operating Current Assets |
263,00 |
127,60 |
170,23 |
210,98 |
|
BALANCE |
|
|
|
|
|
Working Capital |
5.612.057,49 |
363.570,00 |
1.221.650,00 |
2.688.670,00 |
|
Working Capital
Requirement |
7.386.653,25 |
659.240,00 |
1.982.290,00 |
3.967.450,00 |
|
Treasury |
-1.774.595,76 |
-1.886.000,00 |
-293.720,00 |
376.020,00 |
|
Balance Ratio |
2,80 |
1,23 |
1,92 |
3,51 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
47,65 |
48,50 |
66,63 |
80,11 |
|
Own / Permanent Funds |
72,81 |
70,08 |
91,10 |
98,86 |
|
Payback Capacity |
0,46 |
0,23 |
0,35 |
0,51 |
|
Long term Indebtedness |
18,70 |
0,01 |
3,15 |
10,12 |
|
Gearing |
193,31 |
197,08 |
300,82 |
507,87 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
2,10 |
1,24 |
1,49 |
2,05 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
2,58 |
1,07 |
1,30 |
1,74 |
|
Immediate Liquidity |
0,10 |
0,03 |
0,09 |
0,25 |
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%)