MIRA
INFORM REPORT
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Report Date : |
08.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
FLORIN VEGYIPARI ES KERESKEDELMI |
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Formerly Known As : |
FLORIN
VEGYIPARI ÉS KERESKEDELMI RÉSZVÉNYTÁRSASÁG |
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Registered Office : |
Zartkoruen
mukodo Reszvenytarsasag 6725
Szeged, Kenyergyari ut 5 |
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Country : |
Hungary |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
30.11.1989 |
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Legal Form : |
Company limited by Shares |
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Line of Business : |
Manufacture of
Perfumes and Toilet Preparations |
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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Maximum Credit Limit : |
HUF 10.400.000 EUR 39.728 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
name
& address
FLORIN Vegyipari és Kereskedelmi
Zártkörűen működő Részvénytársaság
6725 Szeged, Kenyérgyári út 5.
Phone: +36-62-592100
Telefax: +36-62-592167
E-Mail: florin@florin.hu
Web: www.florin.hu
Legal
form
Company limited by shares
Established
on
30/11/1989 - Co-operative
31/10/1992 - Company limited by shares
Legal predecessor:
FLORIN Vegyipari Szövetkezet Transformation
Reg Nr.: 06 02 000220
6724 Szeged,
Kenyérgyári u. 5.
Registered on Cj. Csongrád
megye,
21/04/1993 Cj. Csongrád megye, 06 10 000075
Tax number: 11083023-2-06
EU Community VAT identification number: HU11083023
Last entry: 2007.10.08.
Registered capital
HUF 424.520.000
From this non-cash capital contribution HUF
424.520.000,-
Shareholder
Names of the shareholders are not known
Board
of directors
Dénesné Vári
6800 Hódmezővásárhely,
Ábrai Károly u. 41.
chief accountant
authorized to collective sign
Dr. Árpád László Szőcs
1025 Budapest, Mandula u. 34.
Office-bearer
authorized to sign alone
Dr. György Csirinyi
6724 Szeged,
Siha köz 2/a.
Employee
authorized to collective sign
Enikő Hégely
6725 Szeged,
Veresács u. 44.
Employee
authorized to collective sign
Jenő László
6724 Szeged,
Kukovecz Nana u. 10.
general manager
authorized to sign alone
Sándor Újlaki-Nagy
2377 Örkény,
Fő út 16/a.
Office-bearer
authorized to sign alone
Supervisory Board
Árpád Mizser
2310 Szigetszentmiklós,
Málna u. 7.
member of the supervisory board
Dr. András Vargha
1118 Budapest,
Otthon u. 10.
member of the supervisory board
Jánosné Cselovszki
6726 Szeged,
Torockói u. 1/C.
member of the supervisory board
Auditor
Poesz Csaba
1161 Budapest, Rákospalotai határ
út 33.
General
data
Main activity:
Manufacture of perfumes and toilet preparations
Brand name
YUVAN, CHARME, ALEX, FITTE, MADLENE, FLORISSE, STYLISH, MÉDEA,
SANA, UNITOX
UNISTOP, FLÓRALUX, UNIFOSZ, BIOSECT, FAPLASZT, PIRINOR, CLUB,
FLORINETT
Former name
FLORIN Vegyipari és Kereskedelmi Részvénytársaság
Full name
FLORIN Vegyipari és Kereskedelmi Zártkörűen működő
Részvénytársaság
Name in foreign language
FLORIN Chemical and Trade Company Limited FLORIN Co. Ltd.
FLORIN Himiko Promislennoe i Targovoe Zakrito Akcionyernoe
Obsesztvo FLORIN ZAO
FLORIN geschlossene Aktiengesellschaft für Chemieindustrielle
und Handelswesen FLORIN AG.
FLORIN Production et Commercialisation des Produits Chimiques
S. A. F. FLORIN S.A.F.
Angolul: FLORIN Chemical and Trading Closed Company Limited by
Shares Rövidítve: FLORIN Ltd.
Németül : FLORIN geschlossene Aktiengesellschaft für
Chemieindustrielle und Handelswesen Rövidítve:
Franciául : FLORIN Production et Commercialisation des
Produits Chimiques S. A. F. Rövidítve: FLORIN
Short name
FLORIN Zrt.
Export:
Bulgaria
Croatia
Great-Britain
Romania
Serbia
Spain
Sweden
Import:
Austria
Czech Republic
France
Germany
Netherlands
General contacts:
Letter:
6701 Szeged, Pf. 49.
Phone:
+36-62-592100
+36-62-473522
Telefax:
+36-62-592167
+36-62-469365
E-Mail:
florin@florin.hu
marketing@florin.hu
Web:
www.florin.hu
Residence address:
6725 Szeged, Kenyérgyári út 5.
The company has ISO 9001 quality certificate.
Regular activity:
Manufacture and trade of cosmetics,
hair and bodylotions,other chemicals,
plant protector chemicals,
delivery service, lease works
Other activities
Manufacture of other inorganic basic chemicals
Manufacture of other organic basic chemicals
Manufacture of pesticides and other agro-
chemical products
Manufacture of paints, varnishes and similar
coatings, printing ink an
Manufacture of pharmaceutical preparations
Manufacture of soap and detergents, cleaning
and polishing preparation
Manufacture of essential oils
Manufacture of other chemical products nec
Manufacture of metal structures and parts of
structures
Manufacture of tanks, reservoirs and
containers of metal
General mechanical engineering
Manufacture of other fabricated metal products
nec
Manufacture of other special purpose machinery
nec
Steam and hot water supply
Collection, purification and distribution of
water
Agent's wholesale trade in basic materials, fuel
Agents involved in the sale of timber and
building materials
Agents specializing in the sale of particular
products or ranges of pr
Wholesale trade of china and glassware,
wallpaper and cleaning materials
Wholesale trade of perfume and cosmetics
Wholesale trade of pharmaceutical goods
Wholesale trade of wood, construction
materials and sanitary equipment
Wholesale trade of chemical products
Other wholesale
Retail sale via mail order houses
Other non-store retail sale
Canteens
Freight transport by road
Storage and warehousing
Letting of own property
Other software consultancy and supply
Data processing
Research and experimental development on
natural sciences and engineer
Technical testing and analysis
Advertising
Packaging activities
Employees
2004 181 employees
2005 138 employees
2006 140 employees
2007 162 employees
2008 135 employees
Annual
turnover
1993 Net income HUF 602.607.000,-
1994 Net income HUF
792.446.000,-
1995 Net income HUF 774.540.000,-
2000 Net income HUF 2.974.866.000,-
2001 Net income HUF 2.824.154.000,-
2002 Net income HUF
2.789.999.000,-
2003 Net income HUF 2.318.766.000,-
2004 Net income HUF 2.045.159.000,-
2005 Net income HUF 1.610.559.000,-
2006 Net income HUF 1.671.146.000,-
Property
Company's property: car
4 piece (own data from 2008)
Company's
property: truck
1 piece (own data from 2008)
Company's property: property
Book value: 362.836.000,- HUF (According to balance - 2006)
Balance
sheets
2006. évi mérleg (12/31/2006 - 1000 HUF)
2005. évi Éves beszámoló MÉRLEG "A" változat Eszközök + Forr
(12/31/2005 -1000 HUF)
2004. évi Éves beszámoló MÉRLEG "A" változat Eszközök + Forr
(12/31/2004 -1000 HUF)
2006. évi eredménykimutatás (12/31/2006 - 1000 HUF)
2005. évi Éves beszámoló Összköltség eljárással készített er (12/31/2005
-1000 HUF)
2004. évi Éves beszámoló Összköltség eljárással készített er (12/31/2004 - 1000 HUF)
Remarks
The enclosed balance sheet for 2004 is originated from official source,
it is authenticated by the auditor.
The enclosed balance sheet for 2005 is originated from official source,
it is authenticated by the auditor.
The enclosed balance sheet of 2006 is originated from official source,
it is authenticated by the auditor.
The company has not provided economical data because the accountant was away.
The balance sheet of 2005 data are incomplete.
Main
suppliers
- Szenna Pack Kft.
- Mátrametál, Sirok
- MOL Nyrt., Szolnok
- WELLA AG , Germany
Interests
Árpád Mizser:
DUNAJOBS ÉPÍTŐK Kivitelező és
Manager
Szolgáltató Korlátolt Felelősségű
Társaság
PRO-IMMO Ingatlanhasznosító
Manager
Korlátolt Felelősségű Társaság
QUANDER - HÁZ Ingatlanforgalmazó,
Manager
Kereskedelmi Építőipari és
Szolgáltató Korlátolt Felelősségű
Társa
QUANDER - HÁZ Ingatlanforgalmazó, Owner
Kereskedelmi Építőipari és
Szolgáltató Korlátolt Felelősségű
Társa
Dr. Árpád László Szőcs:
KIS HERCEGNŐ Szolgáltató és Owner
Kereskedelmi Korlátolt Felelősségű
Társaság
FLORIN Vegyipari és Kereskedelmi Zártkörűen működő
Részvénytársaság:
COSMED TRADE Kereskedelmi Owner
Korlátolt Felelősségű Társaság
CSEBER Csomagolóeszköz Begyűjtési Members
Rendszer Közhasznú Társaság
Jánosné Cselovszki:
FCCM Ipari, Kereskedelmi és Owner
Szolgáltató Korlátolt Felelősségű
Társaság
ZEMPLÉN-INVEST Fejlesztési és Owner
Befektetési Korlátolt Felelősségű
Társaság
Jenő László:
COSMED TRADE Kereskedelmi Manager
Korlátolt Felelősségű Társaság
Sándor Újlaki-Nagy:
COSMED TRADE Kereskedelmi Manager
Korlátolt Felelősségű Társaság
I-68 Invest Ingatlanforgalmazó és Owner
Szolgáltató Korlátolt Felelősségű
Társaság
Bank
relations
K&H Bank Nyrt. 280 Szeged:
Central address: HU Szeged, Széchenyi tér 9.
Account number: 104028052802461300000000
Account number: 104028052802461370520000
K&H Bank Nyrt. Vállalat:
Central address: HU Budapest, Pozsonyi út 77-79.
Account number: 102010066018400900000000
Account number: 102010066018399800000000
MKB Bank Nyrt.:
Central address: HU Budapest, Szent István tér 11.
Account number: 103000022851066042793285
Account number: 103000026610017626304882
Company
development
Company development stagnative
Terms
of payment
Slowly, with delays, multipled payment warning
Business Connection
Granting of credit is not
disputed by us, but referring to the payment method it is recommended to follow with increased
attention the issued invoices
Credit
limit
HUF 10.400.000,-
EUR 39.728,-
A. 2006. évi mérleg (12/31/2006 - 1000 HUF)
B. 2005. évi Éves beszámoló MÉRLEG "A" változat Eszközök +
Forr (12/31/2005 - 1000 HUF)
C. 2004. évi Éves beszámoló MÉRLEG "A" változat Eszközök +
Forr (12/31/2004 - 1000 HUF)
Balance
row A A
<- B B <-
C
2006.12.31. B% 2005.12.31. C% 2004.12.31.
FIXED ASSETS 720.491
1 741.799 1
711.724
Intangible assets 109.254
1 111.579 1.2
95.340
Consessions
and similar rights 42 0.1
417 0.1 3.586
and
assents
Goodwill
Advance
payments on on
intangible
assets
Intellectual
property 26.005 0.9
29.717 1.6 18.644
Capitalised
value of research 73.468
1.1 68.312 1.2
56.157
and
development costs
Capitalised
value of fundantion 9.739 0.7
13.133 0.8 16.953
and
restructuring costs
Revaluation
of intangible assets
Tangible assets 495.319
1 520.547 1
524.781
Land and
buildings and related 362.836 1
371.846 1.1 340.812
concessions
and similar rights
Technical
equipment, machinery 43.875 0.7
66.539 0.7 93.259
and
vehicles
Other
equipment, fittings and
51.168 0.9 55.503
0.8 67.804
vehicles
Breeding
stock
Capital
WIP, renovations
37.440 1.4 26.659
1.2 22.906
Advance
payments on Capital WIP
Revaluation
of tangible assets
Financial
investments 115.918 1.1
109.673 1.2 91.603
-
Securities
Long
term investments in
111.951 1 107.910
1.2 89.565
related
companies
Long
term loans given to
related
companies
Other
long term investments 100
1 100 1
100
Long
term loans given to other
investees
Other
loag term loans given
3.867 2.3 1.663 0.9 1.938
Securities
representing long
term
loans
Revaluation
of financial
investments
CURRENT ASSETS 917.289
0.9 1.048.286 0.9
1.153.815
Inventories 463.608
1.2 402.905 0.8
511.398
Raw
materials and consumables
301.175 1.1 263.802
0.8 312.203
Goodss,
services
26.789 1.3 20.557
0.7 29.008
Advance
payments on inventories
1.617 0.4 3.604
0.9 3.970
Animals
Work in
progress and semi-
14.147 1.7 8.435
0.7 11.681
finished
products
Finished
goods 119.880
1.1 106.507 0.7
154.536
Receivables 410.190
1 406.344 1.2
340.292
Trade
accounts receivable
368.978 1 375.078
1.2 309.048
Receivables
from related 20.954
5.4 3.883 0.7
5.578
companies
Receivables
from other investees
Bills of
exchange receivable
Other
receivables
20.258 0.7 27.383
1.1 25.666
Securities
Investments
in related companies
Other
investments
Securities
personifying
circulational
credit relation
aim
Own
shares, own quotas
Liquid assets 43.491
0.2 239.037 0.8
302.125
Cash in
hand, cheques
579 1.7 348
0.4 945
Bank
deposits
42.912 0.2 238.689
0.8 301.180
PREPAID EXPENSES AND ACCRUED 75.715 4.7 15.977 2.1
7.551
INCOME
Accrued
income
73.665 5.7 12.986
12.1 1.074
Prepaid
expenses
2.050 0.7 2.991
0.5 6.477
Deferred
expenses
TOTAL ASSETS 1.713.495
0.9 1.806.062 1
1.873.090
SHAREHOLDERS' EQUITY 1.115.371 1
1.111.417 1 1.119.174
Capital
subscribed
424.520 1 424.520 1 424.520
thereof:
treasure shares
repurchased
at face value
Issued
but not paid capital (-)
Capital
reserves
1 1 1 1 1
Retained
earnings from previous 635.766 1.1
605.451 1 635.084
years
Non-distributable
reserves 51.130 0.6
81.445 1.5 56.157
Revaluation
reserve
Profit
per balance-sheet
3.954
3.412
PROVISIONS
42.000
Provisions
for expected
liabilities
Provisions
for future expenses
Other
provision 42.000
LIABILITIES 503.305 0.8 601.411 1 587.512
Subordinated liabilities
Subordinated
liabilities to
related
companies
Subordinated
liabilities to
ither
investees
Subordinated
liabilities to
other
enterprises
Long term liabilities 6.000 0.6
10.000 0.0 239.642
Investment
and development loans
Other
long term loans 226.642
Long
term credits
Convertible
bonds
Debts on the issue of bonds
Long
term liabilities to
related
companies
Long
term liabilities to other
investees
Other
long term liabilities
6.000 0.6 10.000
0.8 13.000
Short term liabilities 497.305 0.8 591.411
1.7 347.870
Advance
payments received from
14.852 1.4 10.311
0.7 14.706
customers
Trade
accounts payable 192.117 1.1
177.305 1.1 157.539
Bills of
exchange payable
Short
term liabilities to
related
companies
Short
term liabilities to other
investees
Short
term credits
256.300 0.7 356.822 3 120.248
Short
term loans
thereof:
convertible bonds
Other
short term liabilities
34.036 0.7 46.973
0.8 55.377
ACCRUED EXPENSES AND DEFERRED 94.819 1 93.234 0.7
124.404
INCOME
Deferred
revenues 1.372 1
1.421 0.1 17.141
Accrued
expenses and deferred
13.743 0.3 39.786
0.7 57.532
income
Deferred
income 79.704 1.5
52.027 1 49.731
TOTAL LIABILITIES AND 1.713.495 0.9
1.806.062 1 1.873.090
SHEREHOLDERS
EQUITY
A. 2006.
évi eredménykimutatás (12/31/2006 - 1000 HUF)
B. 2005.
évi Éves beszámoló Összköltség eljárással készített er (12/31/2005 -
1000
HUF)
C. 2004.
évi Éves beszámoló Összköltség eljárással készített er (12/31/2004 -
1000
HUF)
Balance
row A A
<- B B <- C
2006.12.31. B% 2005.12.31. C% 2004.12.31.
Net
domestic sales revenues
1.239.152 1 1.259.465
0.8 1.609.577
Net
export sales revenues
431.994 1.2 351.094
0.8 435.582
Net sales revenues 1.671.146
1 1.610.559 0.8
2.045.159
Other
revenues
52.355 0.8 61.744
2.7 23.164
Capitalised
value of self- 13.233 0.9
14.335 0.2 76.769
manufactures
assets
of
which: reversal of
281
impairment
loss provision
Change
in self-manufactured 19.084
-0.4 -51.275 0.7
-74.665
inventories
Capitalised
value of own 32.317
-0.9 -36.940 -17.6 2.104
performance
Depreciation
4.309
Cost of
raw materials
970.901 1.2 790.610
0.8 1.022.888
Value of
services used 272.309 0.9
307.082 0.7 421.573
Value of
other services 14.632 1.1
13.540 0.8 16.220
Cost of
goods sold
26.874 0.6 45.134
3.6 12.617
Value of
recharged services
Material type expenditure 1.284.716 1.1 1.156.366 0.8
1.473.298
Wages 199.105 1.1
177.091 0.8 234.119
Other
payments to personnel
44.885 1.1 40.013
0.9 42.803
-
Contribution to the Social
76.055
Security
Fund
Personnel
related contributions
69.711 0.8 91.405
Payments to personnel 320.045 1.1
286.815 0.8 368.327
Deprecation
change 72.964 1.1
68.973 1.1 64.368
Other
expenses
80.853 0.5 166.583 1 171.450
of
which: impairment loss
provision
TRADING PROFIT -2.760
0.1 -43.374 6.2
-7.016
Dividend
received 589
of
which: received from related
companies
Depreciation
of selling the
interests
Received
from associated company
Gain on
sale of investment
Interest
received and gain on 87
financial
transactions
of
which: received from related
companies
Other
interest received
1.308 0.1 8.784
0.4 22.461
of
which: received from related
companies
Other
revenues from financial
34.212 0.8 41.282
1.5 27.851
transactions
Revenues
from financial 35.520 0.7
50.066 1 50.988
transactions
Losst on
financial investments
of which:
given to related
companies
Interest
paid and interest 9.882 1.7
5.952 0.6 10.340
related
expenses
Given to
associated company
Impairment
loss of financial 10.699
investment,
secunties and bank
deposits
Other
expenditures on financial
31.522 1.9 16.979 1 16.200
transactions
Expenditures
of financial 41.404 1.8
22.931 0.6 37.239
transactions
FINANCIAL
PROFIT -5.884
-0.2 27.135 2
13.749
PROFIT
FROM ORDINARY BUSINESS
-8.644 0.5 -16.239
-2.4 6.733
Extraordinary
revenues 13.576 0.7
19.564 1.5 13.217
Extraordinary
expenditures 978 0.5
1.956 1.5 1.277
PROFIT
ON EXTRAORDINARY EVENTS
12.598 0.7 17.608
1.5 11.940
NET PROFIT BEFORE TAXATION 3.954 2.9 1.369 0.1
18.673
Tax
liability 635 0.1
6.771
AFTER TAX PROFIT 3.954
5.4 734 0.1
11.902
Dividends
paid out of
7.756
accumulated
profit reserve
Dividends
paid (approved) out
8.490 1 8.490
of
current year profits
NET PROFIT PER BALANCE SHEET 3.954 3.412
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%)