MIRA
INFORM REPORT
|
Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INTERMAS NETS SA |
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Formerly Known As : |
MOSCEN S.A. |
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Registered Office : |
Calle Collsabadell (Pg Industrial Ronda ), 11
08450 Llinars Del Valles (Barcelona) |
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Country : |
Spain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14.02.1996 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing of Plastic Products |
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
INTERMAS NETS SA
TAX NUMBER: A61056099
Identification and
Characteristics
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TAX NUMBER |
A61056099 |
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NAME |
INTERMAS NETS SA |
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FORMER NAME |
MOSCEN S.A. |
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BUSINESS ADDRESS |
CALLE COLLSABADELL (PG INDUSTRIAL RONDA ), 11 |
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Postcode |
08450 LLINARS DEL VALLES (Barcelona) |
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FORMER ADDRESS |
CALLE GOYA, 33 |
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Postcode |
08440 CARDEDEU (Barcelona) |
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URL |
http://www.intermas.com |
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TELEPHONE |
938425700 |
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FAX |
938425701 |
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LEGAL FORM |
JOINT STOCK COMPANY |
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DATE FOUNDED |
14/02/1996 |
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CAPITAL |
845.727,20 Euros |
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PAID-UP CAPITAL |
845.727,20 Euros |
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NUMBER OF EMPLOYEES |
275 |
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ACTIVITY |
1482300 - Mfg. of plastic products |
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CNAE |
2523 - Manufacture of builders’ ware of plastic |
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EXPORT COMPANY |
YES |
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IMPORT COMPANY |
YES |
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* Characteristics of the main address |
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According to our investigations dated 13/01/2005 these premises are rented used as office, factory, warehouse located in a main commercial area . |
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Synthesis
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FINANCIAL SITUATION (Year ending: 31/12/2006) |
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PROFITABILITY |
Average |
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TREASURY |
Average |
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BALANCE SHEET |
Average |
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DEBT |
Medium |
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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 |
Very favourable |
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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 1.010.902,36 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 |
54.632.425,00 |
60.167.931,00 |
68.313.776,00 |
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ADDED VALUE |
17.006.907,00 |
17.358.343,00 |
19.535.231,00 |
28,60 |
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BUSINESS RESULT |
2.768.185,00 |
3.760.106,00 |
4.675.133,00 |
6,84 |
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OWN FUNDS |
10.760.429,00 |
12.773.240,00 |
15.084.403,00 |
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DEBT |
26.626.795,00 |
29.717.033,00 |
35.209.424,00 |
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TOTAL ASSET |
37.387.224,00 |
42.490.273,00 |
50.293.827,00 |
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The sales of 68.313.776,00 Euros show a change of 13,54% compared with 2.005 . Between 2.004 and 2.005 , this change was 10,13% . |
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Added value grew by 12,54% compared with the previous year. Shareholders equity are 15.084.403,00 Euros for an indebtedness of 35.209.424,00 Euros . |
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The result 4.675.133,00 Euros means financial profitability of 30,99% and economic profitability of 9,30% . This result means growth of 24,34% 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: 07/09/2007 |
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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 |
4.675.133 |
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Total of Amounts to be distributed |
4.675.133 |
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Distribution a |
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Voluntary Reserve |
2.311.163 |
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Dividends |
2.363.970 |
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Auditors’ opinion: |
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FAVOURABLE WITH RESERVATIONS (2.006) |
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Auditors: |
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PRICEWATERHOUSECOOPERS AUDITORES SL |
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Auditing Provisos |
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Close Date: 31/12/2006 |
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POR LA INFORMACION REFERENTE A LAS REMUNERACIONES DEVENGADAS POR LOS ADMINISTRADORES, CONTIENEN LA INFORMACION NECESARIA Y SUFICIENTE PARA SU INTERPRETACION Y COMPRENSION ADECUADA. |
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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 |
97,85 |
98,99 |
-1,14 |
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ADDED VALUE |
27,98 |
25,94 |
2,04 |
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BUSINESS RESULT |
6,70 |
3,62 |
3,08 |
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% OF TOTAL ASSETS |
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OWN FUNDS |
29,99 |
41,66 |
-11,67 |
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DEBT |
70,01 |
58,34 |
11,67 |
Compared sector (CNAE): 252 - Manufacture of plastic products
Number of companies: 46
Size (Sales Figure): > 40.000.000,00 Euros
The turnover of the company is 1,14% below the mean for the sector.
The company’s added value was 27,98% s/ the production value, and 2,04% above the mean for the sector.
The company’s business result was 6,70% of the PV, 3,08% above the mean for the sector.
The company’s own resources are 29,99% , 11,67% below the mean for the sector.
The company’s outside resources are 70,01% , 11,67% 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: 1 Company / Companies in Insolvency Proceedings
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of appointment |
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CHAIRMAN |
BESICART SL |
04/04/2005 |
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ADMINISTRATOR |
GREENVEST SL |
04/04/2005 |
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ADMINISTRATOR |
PALESTRINS SL |
04/04/2005 |
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ADMINISTRATOR |
TORRES RIBAS JOSEP |
04/04/2005 |
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ADMINISTRATOR |
PERALTA PECURUL JOSE LUIS |
20/09/2005 |
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ADMINISTRATOR |
AURICA XXI SCR DE REGIMEN SIMPLIFICADO S.A |
27/08/2007 |
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SECRETARY |
GIRBAU PEDRAGOSA RAMON |
21/03/1997 |
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AUDITOR |
PRICEWATERHOUSECOOPERS AUDITORES S.L |
07/11/2007 |
Functional Managers
|
Position |
Surname and name |
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GENERAL MANAGER |
TORRES RIBAS JOSEP |
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FINANCIAL MANAGER |
PALY EMILIO |
Financial Links
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Shareholders |
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Company Name |
CIF/Country |
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Source |
Information Date |
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NEW PLUS 3 S.L. |
B62026869 |
73,14% |
OWN SOURCES |
01/02/2008 |
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PALESTRINS S.L. |
B62026877 |
16,03% |
OWN SOURCES |
01/02/2008 |
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HERAULT VILA HUGO |
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Indet. |
OWN SOURCES |
01/02/2008 |
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FORT MAURI ALBERT |
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Indet. |
OWN SOURCES |
01/02/2008 |
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MAURI VILA DOMINGO |
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Indet. |
OWN SOURCES |
01/02/2008 |
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PINA IGLESIAS ANGEL |
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Indet. |
OWN SOURCES |
01/02/2008 |
Shareholdings
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
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SEIFIL PERCAN SL. |
B63042097 |
100,00% |
B.O.R.M.E. |
16/01/2008 |
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INTERMAS MEXICO SA DE CV |
MÉXICO |
100,00% |
M.REGISTER |
31/12/2004 |
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B60616828 |
100,00% |
M.REGISTER |
31/12/2006 |
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INTERMAS USA INC |
ESTADOS UNIDOS |
100,00% |
M.REGISTER |
31/12/2006 |
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B63490270 |
100,00% |
M.REGISTER |
31/12/2006 |
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CELLOPLAST SAS |
FRANCIA |
100,00% |
M.REGISTER |
31/12/2006 |
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Company with solvency rating below 7 |
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MALLAS AGROTEXTILES S.L.
Proceedings published in the B.O.R.M.E.
(Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
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Appointments |
07/11/2007 |
551018 |
Barcelona |
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Resignations |
30/10/2007 |
539492 |
Barcelona |
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Appointments |
30/10/2007 |
539492 |
Barcelona |
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Registration of accounts (2006) |
05/09/2007 |
363854 |
Barcelona |
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Registration of accounts (2006) Consolidated |
05/09/2007 |
358965 |
Barcelona |
Press articles
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06/12/2007 |
VANGUARDIA |
BUSINESS AWARDS INFORMATION |
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ESTA EMPRESA, DEDICADA A FABRICAR MALLAS DE PLASTICO QUE PRESIDE TOMAS FOR NESA, HA SIDO PREMIADA POR EL CENTRO ESPAŃOL DE PLASTICOS, POR SU INNOVA CION. |
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31/08/2007 |
EXPANSIÓN |
APPOINTMENTS AND RESIGNATIONS |
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EL GRUPO INTERMAS NETS HA NOMBRADO COMO PRESIDENTE Y CONSEJERO DELEGADO A TOMAS FORNESA. SUSTITUYE EN EL CARGO AL FALLECIDO LLUIS BESAS. |
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Brands, Signs and Commercial
Names
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Prevailing Brands |
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Name: |
INTERMAS |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2334265 |
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Request Date: |
21/07/2000 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
CONCESSION WITH MODIFICATIONS |
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Types: 35 |
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Name: |
INTERMAS INTERMAS NETS, S.A. |
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Kind of Brand: |
JOINT |
File: |
M2334266 |
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Request Date: |
21/07/2000 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
CONCESSION WITH MODIFICATIONS |
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Types: 35 |
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Name: |
TRINTER |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2322808 |
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Request Date: |
08/06/2000 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
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Types: 19 |
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Total Marcas: 3
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Commercial Experience
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PURCHASES |
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Import Percentage: 12% |
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Imports:: |
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Francia, Inglaterra, Alemania y Portugal |
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SALES |
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Collection (estimated) |
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Credit sales percentage 100 % |
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Export Percentage: 40% |
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Exports:: |
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Inglaterra, Francia y Holanda |
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Suppliers |
International |
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NORTENE TECH SAS |
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MALLAS AGROTEXTLES SL |
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DAUMAS SL |
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GRAF LLINARS SL |
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CELLOPLAST SAS |
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Total 9 |
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Clients |
International |
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CELLOPLAST SAS |
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NORTENE TECH SAS |
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INTERGALICIA SL |
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NORPLEX A GRAFICAS SL |
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MALLAS AGROTEXTLES SL |
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Total 11 |
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Bank Entities
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Entity |
Branch |
Branch Address |
Town |
Province |
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BANCO POPULAR ESPAŃOL, S.A. |
0298 |
AVGDA. REI EN JAUME, 87-89 |
CARDEDEU |
Barcelona |
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CAJA DE AHORROS Y PENSIONES DE BARCELONA |
0125 |
AV. DEL REI EN JAUME, 103 |
CARDEDEU |
Barcelona |
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BANCO POPULAR ESPAŃOL, S.A. |
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LLINARS DEL VALLES |
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BANKINTER, S.A. |
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LLINARS DEL VALLES |
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CAJA DE AHORROS Y PENSIONES DE BARCELONA |
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LLINARS DEL VALLES |
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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 07/09/2007
Balance Sheet (ASSETS)
|
(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 |
13.290.754,00 |
15.160.530,00 |
17.274.102,00 |
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I. Establishment expenses |
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II. Intangible assets |
1.160.177,00 |
3.153.232,00 |
2.350.149,00 |
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R & D expenses |
1.179.602,00 |
1.252.920,00 |
327.727,00 |
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Software |
529.514,00 |
607.312,00 |
618.857,00 |
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Leasing |
841.417,00 |
3.840.635,00 |
3.840.635,00 |
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Amortization |
-1.390.356,00 |
-2.547.635,00 |
-2.437.070,00 |
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III. Tangible assets |
6.434.493,00 |
4.219.003,00 |
4.763.062,00 |
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Property, plant and equipment |
2.039.091,00 |
2.039.091,00 |
2.039.091,00 |
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Machinery, equipment and other |
15.365.210,00 |
11.198.354,00 |
11.992.142,00 |
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Other property plant and equipement |
584.854,00 |
414.434,00 |
479.550,00 |
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Prepaid expenses on fixed assets |
90.934,00 |
369.451,00 |
521.621,00 |
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Other assets |
460.959,00 |
574.210,00 |
465.372,00 |
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Depreciation |
-12.106.555,00 |
-10.376.537,00 |
-10.734.714,00 |
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IV. Financial assets |
5.696.084,00 |
7.788.295,00 |
10.160.891,00 |
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Shares in affiliated companies |
4.281.134,00 |
5.588.197,00 |
8.430.008,00 |
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Loans to affiliated companies |
758.566,00 |
1.421.587,00 |
1.486.587,00 |
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Shares in associated companies |
453.600,00 |
561.600,00 |
375.850,00 |
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Other loans |
180.304,00 |
430.304,00 |
317.454,00 |
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Long term deposits and guarantees |
183.912,00 |
206.576,00 |
249.916,00 |
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Provisions |
-161.432,00 |
-419.969,00 |
-698.924,00 |
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V. Owners equity |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
56.593,00 |
193.505,00 |
159.736,00 |
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D) CURRENT ASSETS |
24.039.877,00 |
27.136.238,00 |
32.859.989,00 |
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I. Not paid in shareholder capital |
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|
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II. Inventory |
6.405.557,00 |
7.007.327,00 |
10.094.834,00 |
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Goods available for sale |
1.777.713,00 |
1.834.773,00 |
2.684.936,00 |
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Raw material inventory |
1.390.428,00 |
1.182.135,00 |
2.633.916,00 |
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Work in Progress |
171.061,00 |
176.758,00 |
217.766,00 |
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Finished goods |
2.840.012,00 |
3.663.519,00 |
4.303.039,00 |
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Cash advance |
414.236,00 |
373.357,00 |
485.615,00 |
|
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Provisions |
-187.893,00 |
-223.215,00 |
-230.438,00 |
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III. Debtors |
15.808.523,00 |
18.913.275,00 |
21.226.888,00 |
|
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Clients |
13.142.348,00 |
13.392.148,00 |
15.216.018,00 |
|
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Amounts owned by affiliated companies |
1.221.402,00 |
3.931.340,00 |
4.185.724,00 |
|
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Amounts owned by associated companies |
1.779.951,00 |
1.775.919,00 |
1.880.995,00 |
|
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Labor costs |
19.322,00 |
32.879,00 |
32.829,00 |
|
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Taxes refunds |
346.435,00 |
362.657,00 |
444.184,00 |
|
|
Provisions |
-700.935,00 |
-581.668,00 |
-532.862,00 |
|
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IV. Short term financial assets |
935.565,00 |
945.552,00 |
1.305.968,00 |
|
|
Receivables in affiliated companies |
45.759,00 |
61.274,00 |
506.183,00 |
|
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Short term investment |
1.091.012,00 |
1.041.012,00 |
921.012,00 |
|
|
Other loans |
361,00 |
361,00 |
361,00 |
|
|
Short Term Deposit and guarantees |
6.571,00 |
2.292,00 |
1.036,00 |
|
|
Provisions |
-208.138,00 |
-159.387,00 |
-122.624,00 |
|
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V. Short term owners equity |
|
|
|
|
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VI. Cash |
885.249,00 |
262.494,00 |
226.089,00 |
|
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VII. Prepaid expenses and accrued income |
4.983,00 |
7.590,00 |
6.210,00 |
|
|
ASSETS (A + B + C + D) |
37.387.224,00 |
42.490.273,00 |
50.293.827,00 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
10.760.429,00 |
12.773.240,00 |
15.084.403,00 |
|
|
I. Capital |
659.598,00 |
676.546,00 |
676.546,00 |
|
|
II. Premium share account |
1.305.167,00 |
1.904.894,00 |
1.904.894,00 |
|
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III. Revaluation reserve |
|
|
|
|
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IV. Reserves |
6.027.479,00 |
6.431.694,00 |
7.827.830,00 |
|
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Retained earnings |
131.920,00 |
131.920,00 |
135.309,00 |
|
|
Other funds |
5.895.547,00 |
6.299.762,00 |
7.692.521,00 |
|
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Capital adjustments in Euros |
12,00 |
12,00 |
|
|
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V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
2.768.185,00 |
3.760.106,00 |
4.675.133,00 |
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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 |
2.598.762,00 |
3.412.736,00 |
2.603.063,00 |
|
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I. Bonds |
|
|
|
|
|
II. Bank loans |
858.762,00 |
3.385.004,00 |
2.575.331,00 |
|
|
Long term bank loans |
404.900,00 |
1.020.253,00 |
929.673,00 |
|
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Leasing |
453.862,00 |
2.364.751,00 |
1.645.658,00 |
|
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III. Debts with associed and affiliated companies |
1.500.000,00 |
|
|
|
|
Debt with affiliated companies |
1.500.000,00 |
|
|
|
|
IV. Other creditors |
240.000,00 |
27.732,00 |
27.732,00 |
|
|
Accounts payable |
240.000,00 |
|
|
|
|
Long term deposit and guaranties |
|
27.732,00 |
27.732,00 |
|
|
V. Deferred debts on shares |
|
|
|
|
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VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
24.028.033,00 |
26.304.297,00 |
32.606.361,00 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
16.750.336,00 |
19.654.321,00 |
23.164.708,00 |
|
|
Loans and other debts |
16.610.853,00 |
18.878.489,00 |
22.358.793,00 |
|
|
Debt interest |
41.179,00 |
46.727,00 |
46.752,00 |
|
|
Leasing |
98.304,00 |
729.105,00 |
759.163,00 |
|
|
III. Short term debts with associated and affiliated companies |
622.437,00 |
260.671,00 |
967.019,00 |
|
|
With affiliated companies |
610.691,00 |
251.357,00 |
948.468,00 |
|
|
Associeted companies |
11.746,00 |
9.314,00 |
18.551,00 |
|
|
IV. Trade creditors |
4.425.046,00 |
4.405.077,00 |
6.691.367,00 |
|
|
Expenses |
4.425.046,00 |
4.405.077,00 |
6.691.367,00 |
|
|
V. Other non trade payables |
2.003.214,00 |
1.897.947,00 |
1.722.614,00 |
|
|
Government |
594.147,00 |
451.641,00 |
641.585,00 |
|
|
Bills payable |
240.000,00 |
240.000,00 |
|
|
|
Accounts receivable |
1.169.067,00 |
1.206.306,00 |
1.081.029,00 |
|
|
VI. Provisions for current assets |
|
|
|
|
|
VII. Accruals and deferred incomes |
227.000,00 |
86.281,00 |
60.653,00 |
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
37.387.224,00 |
42.490.273,00 |
50.293.827,00 |
Profit and Loss Account
|
(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
|
|
A) EXPENSES (A.1 a A.16) |
54.372.292,00 |
60.274.672,00 |
67.490.563,00 |
|
|
A.1. Change in stocks of finished goods and work in progress |
377.548,00 |
|
|
|
|
A.2. Supplies |
27.664.536,00 |
32.615.374,00 |
38.161.739,00 |
|
|
Material consumed |
9.241.980,00 |
9.976.235,00 |
12.011.672,00 |
|
|
Raw materials consumed |
16.878.801,00 |
21.306.000,00 |
24.933.290,00 |
|
|
Other expenses |
1.543.755,00 |
1.333.139,00 |
1.216.777,00 |
|
|
A.3. Labor cost |
11.659.873,00 |
11.693.127,00 |
12.318.685,00 |
|
|
Wages |
9.033.464,00 |
8.800.101,00 |
9.423.283,00 |
|
|
Social security expenses |
2.626.409,00 |
2.893.026,00 |
2.895.402,00 |
|
|
A.4. Assets depreciation |
1.603.840,00 |
1.758.721,00 |
1.556.506,00 |
|
|
A.5 Variance in provision for current assets |
250.744,00 |
57.477,00 |
21.504,00 |
|
|
Variance in provision for inventory |
123.970,00 |
35.322,00 |
7.223,00 |
|
|
Variance in provision for bad debts |
126.774,00 |
22.155,00 |
10.971,00 |
|
|
Variance in provision for other current assets |
|
|
3.310,00 |
|
|
A.6. Other operating costs |
10.885.014,00 |
12.240.821,00 |
12.669.533,00 |
|
|
External costs |
10.762.665,00 |
12.148.921,00 |
12.573.234,00 |
|
|
Taxes |
122.349,00 |
91.900,00 |
96.299,00 |
|
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
3.492.450,00 |
3.849.018,00 |
5.638.536,00 |
|
|
A.7. Financial expenses |
561.774,00 |
719.796,00 |
889.573,00 |
|
|
Debts with related companies |
|
34.477,00 |
|
|
|
Other companies debts |
561.774,00 |
685.319,00 |
889.573,00 |
|
|
A.8. Variation in financial investments provision |
-18.770,00 |
209.785,00 |
278.955,00 |
|
|
A.9. Exchange losses |
220.032,00 |
55.605,00 |
224.597,00 |
|
|
A.II. POSITIVE FINANCIAL RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
414.050,00 |
754.187,00 |
373.169,00 |
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
3.906.500,00 |
4.603.205,00 |
6.011.705,00 |
|
|
A.10. Variation in provision in fixed assets |
|
|
|
|
|
A.11. Losses in fixed assets |
294.811,00 |
2.290,00 |
1.639,00 |
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
114.705,00 |
|
99.762,00 |
|
|
A.14. Prior year’s expenses and losses |
61.846,00 |
40.631,00 |
1.554,00 |
|
|
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) |
|
37.946,00 |
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
3.464.524,00 |
4.641.151,00 |
5.941.649,00 |
|
|
A.15. Corporate Taxes |
696.339,00 |
881.045,00 |
1.266.516,00 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT) (A.V-A.15-A.16) |
2.768.185,00 |
3.760.106,00 |
4.675.133,00 |
|
|
B) INCOMES (B.1 a B13) |
57.140.477,00 |
64.034.778,00 |
72.165.696,00 |
|
|
B.1. Turnover |
54.632.425,00 |
60.167.931,00 |
68.313.776,00 |
|
|
Sales |
55.521.165,00 |
60.863.156,00 |
69.481.899,00 |
|
|
Services provided |
108.893,00 |
397.951,00 |
524.008,00 |
|
|
Discounts |
-997.633,00 |
-1.093.176,00 |
-1.692.131,00 |
|
|
B.2. Increase in inventory of finished goods |
|
829.204,00 |
550.527,00 |
|
|
B.3. Expenses capitalized |
532.843,00 |
144.764,00 |
375.402,00 |
|
|
B.4. Other operating income |
768.737,00 |
1.072.639,00 |
1.126.798,00 |
|
|
Other incomes |
750.000,00 |
1.050.000,00 |
1.110.000,00 |
|
|
Grants |
18.737,00 |
22.639,00 |
16.798,00 |
|
|
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 |
723.984,00 |
1.000.000,00 |
1.000.000,00 |
|
|
From affiliated companies |
723.984,00 |
1.000.000,00 |
|
|
|
From other companies |
|
|
1.000.000,00 |
|
|
B.6. Income from securities |
23.200,00 |
|
|
|
|
Group companies |
23.200,00 |
|
|
|
|
B.7. Other income from interrest |
390.606,00 |
590.231,00 |
655.778,00 |
|
|
From affiliated companies |
|
92.630,00 |
75.825,00 |
|
|
From associated companies |
|
7.533,00 |
|
|
|
From other companies |
390.606,00 |
490.068,00 |
579.953,00 |
|
|
B.8. Gains on exchange |
39.296,00 |
149.142,00 |
110.516,00 |
|
|
B.II. FINANCIAL LOSSES (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
|
|
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
|
10.950,00 |
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
19.803,00 |
51.419,00 |
4.704,00 |
|
|
B.13. Prior year’s income and profits |
9.583,00 |
18.498,00 |
28.195,00 |
|
|
B.IV. EXTRAORDINARY LOSSES (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
441.976,00 |
|
70.056,00 |
|
|
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) |
2.004 (12) |
2.005 (12) |
2.006 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
0,84 |
10,13 |
13,54 |
|
|
Assets Turnover |
1,46 |
1,42 |
1,36 |
|
|
Productivity |
1,46 |
1,48 |
1,59 |
|
|
Increase of the Added Value |
4,42 |
2,07 |
12,54 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
7,40 |
8,85 |
9,30 |
|
|
Financial Profitability |
25,73 |
29,44 |
30,99 |
|
|
Financial Expenses |
1,03 |
1,20 |
1,30 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
104,00 |
113,00 |
112,00 |
|
|
Suppliers’ Credit (In days of sales) |
57,00 |
50,00 |
64,00 |
|
|
Working Capital (In days of sales) |
0,00 |
5,00 |
1,00 |
|
|
Working Capital Requirement (In days of sales) |
98,00 |
115,00 |
115,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
11.844,00 |
831.941,00 |
253.628,00 |
|
|
Working Capital Requirement |
14.941.366,00 |
19.278.216,00 |
21.886.279,00 |
|
|
Treasury |
-14.929.522,00 |
-18.446.275,00 |
-21.632.651,00 |
|
|
Balance Ratio |
1,00 |
1,05 |
1,01 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
71,22 |
69,94 |
70,01 |
|
|
Own / Permanent Funds |
80,55 |
78,92 |
85,28 |
|
|
Payback Capacity |
0,47 |
0,48 |
0,50 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,00 |
1,03 |
1,01 |
|
|
Immediate Liquidity |
0,08 |
0,05 |
0,05 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.006 |
|
|
|
Assets |
|||
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
0,00 |
0,00 |
0,00 |
|
B) FIXED ASSETS |
34,35 |
43,49 |
-9,14 |
|
C) ACCRUED EXPENSES |
0,32 |
0,26 |
0,06 |
|
D) CURRENT ASSETS |
65,34 |
56,23 |
9,11 |
|
TOTAL ASSETS (A + B + C + D) |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
A) SHAREHOLDERS EQUITY |
29,99 |
41,66 |
-11,67 |
|
B) ACCRUED INCOME |
0,00 |
1,13 |
-1,13 |
|
C) RISK AND EXPENDITURE COVER |
0,00 |
1,44 |
-1,44 |
|
D) LONG-TERM CREDITORS |
5,18 |
13,21 |
-8,03 |
|
E) SHORT-TERM CREDITORS |
64,83 |
42,45 |
22,38 |
|
F) SHORT-TERM RISK AND EXPENDITURE COVER |
0,00 |
0,08 |
-0,08 |
|
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 |
|
|
|
Net turnover |
97,85 |
98,99 |
-1,14 |
|
Other operating income |
2,15 |
1,00 |
1,15 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
53,87 |
58,62 |
-4,75 |
|
Other operation expenses |
18,15 |
15,43 |
2,72 |
|
Added value |
27,98 |
25,94 |
2,04 |
|
Labor cost |
17,64 |
14,59 |
3,05 |
|
Gross Economic Result |
10,34 |
11,34 |
-1,00 |
|
Assets depreciation |
2,23 |
4,75 |
-2,52 |
|
Variation in provision for current assets |
0,03 |
0,23 |
-0,20 |
|
Net Economic Result |
8,08 |
6,35 |
1,73 |
|
Financial income |
2,53 |
1,12 |
1,41 |
|
Financial expenses |
2,00 |
1,25 |
0,75 |
|
Variation in financial investment provision |
0,40 |
0,01 |
0,39 |
|
Ordinary Activities Result |
8,61 |
6,21 |
2,40 |
|
Extraordinary income |
0,05 |
1,05 |
-1,00 |
|
Extraordinary expenses |
0,15 |
1,21 |
-1,06 |
|
Variation in provision in fixed assets |
0,00 |
0,16 |
-0,16 |
|
Results before Taxes |
8,51 |
5,89 |
2,62 |
|
Corporaye taxes |
1,81 |
2,27 |
-0,46 |
|
Net Result |
6,70 |
3,62 |
3,08 |
|
Assets depreciation |
2,23 |
4,75 |
-2,52 |
|
Provisions fund variation |
0,43 |
0,40 |
0,03 |
|
Net Self-Financing |
9,36 |
8,78 |
0,58 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.006 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
13,54 |
-0,13 |
7,51 |
17,07 |
|
Assets Turnover |
1,36 |
0,96 |
1,30 |
1,58 |
|
Fixed Assets Turnover |
3,92 |
2,19 |
3,44 |
5,11 |
|
Increase of the Added Value |
12,54 |
-5,51 |
5,26 |
17,41 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,59 |
1,46 |
1,78 |
2,21 |
|
Change of Personnel Costs |
5,35 |
-1,27 |
3,53 |
7,13 |
|
Average Personnel Costs |
43.223,46 |
29.300,00 |
34.350,00 |
40.510,00 |
|
Value Added by Employees |
68.544,67 |
47.690,00 |
65.260,00 |
80.670,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
6.532.098,00 |
3.618.070,00 |
5.034.170,00 |
8.035.360,00 |
|
Operating Cash Flow |
7.216.546,00 |
3.673.810,00 |
5.760.220,00 |
9.363.200,00 |
|
Change in Cash Flow |
12,89 |
-18,16 |
1,42 |
28,49 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
9,30 |
1,92 |
4,70 |
8,95 |
|
Financial Profitability |
30,99 |
4,57 |
10,74 |
18,51 |
|
Financial Expenses |
1,30 |
0,42 |
0,95 |
1,54 |
|
Gross Economic Profitability |
14,35 |
8,72 |
12,48 |
17,90 |
|
Gross Financial Profitability |
47,84 |
19,63 |
28,91 |
41,39 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
111,00 |
80,73 |
101,27 |
121,99 |
|
Suppliers’ Credit (In days of sales) |
64,00 |
59,42 |
84,39 |
132,47 |
|
Working Capital (In days of sales) |
1,00 |
15,27 |
47,61 |
85,39 |
|
Working Capital Requirement (In days of sales) |
115,00 |
7,27 |
54,27 |
92,58 |
|
Treasury (In days of sales) |
0,00 |
-44,03 |
-4,66 |
11,46 |
|
Operating Current Assets |
173,00 |
136,40 |
168,67 |
205,96 |
|
BALANCE |
|
|
|
|
|
Working Capital |
253.628,00 |
2.428.080,00 |
8.309.310,00 |
16.829.080,00 |
|
Working Capital Requirement |
21.886.279,00 |
1.083.250,00 |
8.817.990,00 |
16.808.380,00 |
|
Treasury |
-21.632.651,00 |
-5.980.380,00 |
-696.200,00 |
1.999.670,00 |
|
Balance Ratio |
1,02 |
1,09 |
1,44 |
2,06 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
70,01 |
41,04 |
53,19 |
69,55 |
|
Own / Permanent Funds |
85,28 |
60,37 |
88,71 |
96,86 |
|
Payback Capacity |
0,50 |
0,25 |
0,40 |
0,56 |
|
Long term Indebtedness |
5,18 |
0,01 |
3,50 |
16,94 |
|
Gearing |
333,42 |
174,98 |
222,34 |
336,67 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,42 |
1,43 |
1,87 |
2,43 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,01 |
1,11 |
1,34 |
1,86 |
|
Immediate Liquidity |
0,05 |
0,01 |
0,08 |
0,28 |
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%)