MIRA INFORM REPORT

 

 

 

Report Date :

10.07.2008

 

IDENTIFICATION DETAILS

 

Name :

SOLITER, A.S.

 

 

Formerly Known as :

SOLITER, AKCIOVÁ SPOLEČNOST

 

 

Registered Office :

Nadrazní 10/148 466 45 Jablonec nad Nisou

 

 

Country :

Czech Republic

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

1991

 

 

Com. Reg. No.:

B 103

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of Jewellery and related articles

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 200.000,00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

 

name of the company

 

 

SOLITER, A.S.


Principal Address

Nádražní 10/148
466 45 Jablonec nad Nisou
Czech Republic
Tel: +420-483347300, +420-602462584, +420-483347111
Fax: +420-483347701
Email: info@soliter.cz
Internet: www.soliter.cz

Registered office:
Nádražní 10/148
466 45 Jablonec nad Nisou
Czech Republic

Sales branch:
Mírové nám
466 01 Jablonec nad Nisou
Czech Republic

Sales branch:
nám. E. Beneše 18
460 01 Liberec
Czech Republic

Sales branch:
Jindřicha z Lipé 92
470 01 Česká Lípa
Czech Republic

Sales branch:
Pražská 14
261 01 Příbram
Czech Republic

Sales branch:
Dukelská 812
500 02 Hradec Králové
Czech Republic

Sales branch:
Masarykova 536/5
415 01 Teplice
Czech Republic

 


Sales branch:
Zbrojnická 77
405 01 Děčín
Czech Republic

Sales branch:
Josefská 10
602 00 Brno
Czech Republic

Sales branch:
Kobližná 23
602 00 Brno
Czech Republic

Sales branch:
Třída Míru 58
530 12 Pardubice
Czech Republic

Sales branch:
Americká 70
301 00 Plzeň
Czech Republic

Sales branch:
Mírové nám. 106
400 01 Ústí nad Labem
Czech Republic

Sales branch:
Havlíčkovo nám. 93
397 01 Písek
Czech Republic

Sales branch:
Staré město 23
293 01 Mladá Boleslav
Czech Republic

Sales branch:
Ostrožná 33 /od 12/2000
746 01 Opava
Czech Republic

Sales branch:
Panská 111 /od 12/2000
377 01 Jindřichův Hradec
Czech Republic

Sales branch:
Masarykova 8
602 00 Brno
Czech Republic

 


Sales branch:
Horní 149
381 01 Český Krumlov
Czech Republic

Sales branch:
Masarykovo nám. 36
753 01 Hranice
Czech Republic

Sales branch:
ul. Krále Jana 527
583 01 Chotěboř
Czech Republic

Sales branch:
Soukenné náměstí 156/9
460 01 Liberec
Czech Republic

Sales branch:
28.října 28
701 00 Ostrava
Czech Republic

Sales branch:
Nádražní 30
701 00 Ostrava
Czech Republic

Sales branch:
Hlavní tř. 565
708 00 Ostrava - Poruba
Czech Republic

Sales branch:
Bulharská 82
541 01 Trutnov
Czech Republic

Sales branch:
Pavlovická 44
771 00 Olomouc
Czech Republic

Sales branch:
Kozí 9
110 00 Praha 1
Czech Republic

Sales branch:
Nám. T. G. Masaryka 30
796 01 Prostějov
Czech Republic

 


Former company names

 

SOLITER, akciová společnost, valid since 18.03.1991 valid until 13.12.1992

 

Former company addresses

Former Registered office:
Nádražní 9
466 45 Jablonec nad Nisou
Czech Republic

Former Registered office:
Nádražní 9 - 11
466 01 Jablonec nad Nisou
Czech Republic

Former Registered office:
Jablonec nad Nisou
Czech Republic

 

 

ICON number

 

4567740

 

National ID

 

00480835

 

VAT number

 

CZ00480835

 

Registration status: 18.03.1991 - registered company
Activity status: 18.03.1991 - active company

 

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:          

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

 

Maximum Credit:     

EUR 200.000,00

 

 

 

 

 

Payment Practices:

Payments are made according to terms

 

 

 

Further Rating Information:    

Researched company is categorized as a big company.
Turnover volume of CZK 255.853.000 in the year 2006 decreased by 8,72% compared with 2005. In previous period this change was +19,52%.
Fixed assets decreased by CZK 6.262.000 and now 23,44% of total assets.
Working capital of CZK 162.540.000 increased for 3,93% compared with the last period.
Positive Cash flow from results of CZK 168.000, in the last period the value was negative.

 

 

 

Debt Collection:       

There is no record of any debt collection action. against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS

 

 

Established:              1991

 

 

Registration:             No. B 103
18.03.1991
Ústí nad Labem, Czech Republic

 

 

Legal Form:              18.03.1991
joint stock company

 

 

Capital:                     CZK 104.500.000,00

 

 

 

Shareholders

 

 

Full Name

Function

Address

Equity capital

KTP Quantum, a.s.
Registration: 20.01.1995, Czech Republic

Major Shareholder

Lázeňská 373
547 01 Náchod
Czech Republic

 

 

 

 

Management

 

 

Full Name

Function

Address

Ing. KLINKE Milan
17.12.2004 - Present

Chairman of the executive board

Nad Střelnicí 29
466 01 Jablonec nad Nisou
Czech Republic

Ing. KAPOUNOVÁ Martina
21.11.2005 - Present

Deputy chairman of the executive board

Skalní 494/34
460 05 Liberec V
Czech Republic

Ing. HEPNER Milan
07.06.2007 - Present

Member of the executive board

Radíkovice 25
503 27 Lhota pod Libčany
Czech Republic

Ing. TEPLÝ Jaroslav
19.01.2007 - Present

Chairman of the supervisory board

Český Herálec 501
592 01 Herálec
Czech Republic

Ing. KAPOUNOVÁ Martina
26.03.2008 - Present

Proxy

Skalní 494/34
460 05 Liberec V
Czech Republic

Ing. KLINKE Milan
26.03.2008 - Present

Proxy

Nad Střelnicí 29
466 01 Jablonec nad Nisou
Czech Republic

 

 

 

Related Companies

 

 

subsidiary
SOLITÉR - SLOVAKIA, s.r.o. , Slovakia , National ID: 34103058

Major Shareholder
KTP Quantum, a.s.
547 01 Náchod, Lázeňská 373

 

 

 

KEY DATA ON OPERATIONS

 

 

Subject of Operation:

NACE
  main activity:
  3212 Manufacture of jewellery and related articles

  4690 Non-specialised wholesale trade
  4770 Retail sale of other goods in specialised stores
  2441 Precious metals production
  2450 Casting of metals
  4610 Wholesale on a fee or contract basis

NACE codes given are based on the most recent NACE Revision 2.

 

 

 

Key Data

 

Amounts shown in Czech Koruna (CZK)

 

2006

2005

2004

2003

Turnover

255.853.000

280.280.000

348.257.000

565.461.000

Fixed assets

66.133.000

72.395.000

79.159.000

86.055.000

Equity

165.235.000

158.161.000

210.084.000

221.958.000

Liabilities

116.032.000

155.441.000

133.701.000

171.490.000

Profit after taxation

6.755.000

0

0

20.887.000

Loss after taxation

0

46.799.000

4.900.000

0

Operating result - profit

16.266.000

0

0

30.577.000

Operating result - loss

0

54.371.000

4.922.000

0

 

 

2006

2005

2004

2003

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

2,39

NEGATIVE

NEGATIVE

5,30

Return on equity (ROE)
(Net result / Equity capital) * 100

4,09

NEGATIVE

NEGATIVE

9,41

 

 

 

Workforce:

 

2008

2007

2006

2005

Total workforce

220

220 - 250

280

200 (estimated)

 

 

 

Imports

 

 

Switzerland

Germany

Italy

 

 

 

Exports

 

 

 

Scandinavia

Slovakia

 

 

 

Branches

 

 

Sales branch:
Mírové nám
466 01 Jablonec nad Nisou
Czech Republic

Sales branch:
nám. E. Beneše 18
460 01 Liberec
Czech Republic

Sales branch:
Jindřicha z Lipé 92
470 01 Česká Lípa
Czech Republic

Sales branch:
Pražská 14
261 01 Příbram
Czech Republic

Sales branch:
Dukelská 812
500 02 Hradec Králové
Czech Republic

Sales branch:
Masarykova 536/5
415 01 Teplice
Czech Republic

Sales branch:
Zbrojnická 77
405 01 Děčín
Czech Republic

Sales branch:
Josefská 10
602 00 Brno
Czech Republic

Sales branch:
Kobližná 23
602 00 Brno
Czech Republic

Sales branch:
Třída Míru 58
530 12 Pardubice
Czech Republic

Sales branch:
Americká 70
301 00 Plzeň
Czech Republic

Sales branch:
Mírové nám. 106
400 01 Ústí nad Labem
Czech Republic

Sales branch:
Havlíčkovo nám. 93
397 01 Písek
Czech Republic

Sales branch:
Staré město 23
293 01 Mladá Boleslav
Czech Republic

Sales branch:
Ostrožná 33 /od 12/2000
746 01 Opava
Czech Republic

Sales branch:
Panská 111 /od 12/2000
377 01 Jindřichův Hradec
Czech Republic

Sales branch:
Masarykova 8
602 00 Brno
Czech Republic

Sales branch:
Horní 149
381 01 Český Krumlov
Czech Republic

Sales branch:
Masarykovo nám. 36
753 01 Hranice
Czech Republic

Sales branch:
ul. Krále Jana 527
583 01 Chotěboř
Czech Republic

Sales branch:
Soukenné náměstí 156/9
460 01 Liberec
Czech Republic

Sales branch:
28.října 28
701 00 Ostrava
Czech Republic

Sales branch:
Nádražní 30
701 00 Ostrava
Czech Republic

Sales branch:
Hlavní tř. 565
708 00 Ostrava - Poruba
Czech Republic


Sales branch:
Bulharská 82
541 01 Trutnov
Czech Republic

Sales branch:
Pavlovická 44
771 00 Olomouc
Czech Republic

Sales branch:
Kozí 9
110 00 Praha 1
Czech Republic

Sales branch:
Nám. T. G. Masaryka 30
796 01 Prostějov
Czech Republic

 

 

 

Real Estate

 

 

built upon
Address:
Nádražní 9
466 01 Jablonec nad Nisou
Czech Republic

Value: CZK 1.456.458,00

built upon
Address:
Nádražní 10
466 01 Jablonec nad Nisou
Czech Republic

Value: CZK 24.685.507,00

built upon
Address:
Nádražní 11
466 01 Jablonec nad Nisou
Czech Republic

Value: CZK 4.933.365,50

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL INFORMATION

 

 

 

Financials:

Amounts shown in Czech Koruna (CZK)  

2006

2005

2004

2003

 



Assets

 

TOTAL ASSETS

282.079.000,00

314.220.000,00

344.377.000,00

394.022.000,00

 

Fixed assets

66.133.000,00

72.395.000,00

79.159.000,00

86.055.000,00

 

Intangible fixed assets

206.000,00

343.000,00

312.000,00

 

 

Tangible fixed assets

65.151.000,00

71.940.000,00

77.690.000,00

84.103.000,00

 

Non-current financial assets

776.000,00

112.000,00

1.157.000,00

1.952.000,00

 

Current assets

214.974.000,00

241.124.000,00

264.087.000,00

305.905.000,00

 

Inventories

172.271.000,00

178.593.000,00

199.983.000,00

202.772.000,00

 

Long-term receivables

4.017.000,00

8.161.000,00

 

 

 

Short-term receivables

31.347.000,00

43.905.000,00

44.101.000,00

77.814.000,00

 

from that : Trade receivables

22.280.000,00

39.624.000,00

35.832.000,00

46.103.000,00

 

Liquid assets

7.339.000,00

10.465.000,00

20.003.000,00

25.319.000,00

 

Other assets

972.000,00

701.000,00

1.131.000,00

2.052.000,00

 



Equity & Liabilities

 

TOTAL LIABILITIES

282.079.000,00

314.220.000,00

344.377.000,00

394.022.000,00

 

Equity

165.235.000,00

158.161.000,00

210.084.000,00

221.958.000,00

 

Share capital

104.500.000,00

104.500.000,00

104.500.000,00

104.500.000,00

 

Capital funds

1.842.000,00

1.178.000,00

2.223.000,00

3.018.000,00

 

Statutory funds

34.105.000,00

34.122.000,00

34.425.000,00

34.324.000,00

 

Retained earnings

18.033.000,00

65.160.000,00

73.836.000,00

59.229.000,00

 

Profit or loss for the current period

6.755.000,00

-46.799.000,00

-4.900.000,00

20.887.000,00

 

LIABILITIES

116.032.000,00

155.441.000,00

133.701.000,00

171.490.000,00

 

Reserves

4.520.000,00

31.047.000,00

4.780.000,00

9.847.000,00

 

Long-term liabilities

 

 

7.357.000,00

9.766.000,00

 

Short-term liabilities

52.434.000,00

84.732.000,00

65.687.000,00

76.865.000,00

 

from that : Trade payables

7.716.000,00

 

 

 

 

Bank loans and borrowings

59.078.000,00

39.662.000,00

55.877.000,00

75.011.000,00

 

Short-term bank credits and loans

37.603.000,00

39.662.000,00

55.877.000,00

75.011.000,00

 

Other liabilities

812.000,00

618.000,00

592.000,00

575.000,00

 

BALANCE SHEET TOTAL

282.079.000,00

314.220.000,00

344.377.000,00

394.022.000,00

 



Profit & Loss Account

 

Turnover

255.853.000,00

280.280.000,00

348.257.000,00

565.461.000,00

 

Change in internally produced inventory

8.707.000,00

-6.493.000,00

-1.762.000,00

-9.790.000,00

 

Other operating revenues

12.738.000,00

13.472.000,00

27.588.000,00

83.156.000,00

 

Total operating income

277.298.000,00

287.259.000,00

374.083.000,00

638.827.000,00

 

Costs of sold goods

65.047.000,00

69.742.000,00

93.695.000,00

198.072.000,00

 

Purchased consumables and services

113.965.000,00

124.903.000,00

162.852.000,00

260.523.000,00

 

Staff costs

53.615.000,00

58.180.000,00

62.729.000,00

64.500.000,00

 

Taxes and charges

4.202.000,00

42.578.000,00

29.391.000,00

1.003.000,00

 

Depreciations of intangible and tangible assets

6.587.000,00

6.989.000,00

7.846.000,00

8.456.000,00

 

Other operating expenses

17.616.000,00

39.238.000,00

22.492.000,00

75.697.000,00

 

Total operating expenses

261.032.000,00

341.630.000,00

379.005.000,00

608.251.000,00

 

OPERATING PROFIT / LOSS

16.266.000,00

-54.371.000,00

-4.922.000,00

30.577.000,00

 

Financial income

380.000,00

690.000,00

5.340.000,00

8.102.000,00

 

Financial expenses

5.749.000,00

9.222.000,00

3.945.000,00

10.865.000,00

 

there of : Interest expenses

3.562.000,00

3.235.000,00

3.945.000,00

4.233.000,00

 

Extraordinary income

 

 

 

480.000,00

 

PROFIT/LOSS BEFORE TAX

10.897.000,00

-62.903.000,00

 

 

 

Corporation income tax

4.142.000,00

-16.104.000,00

-2.409.000,00

7.407.000,00

 

PROFIT OR LOSS FOR THE CURRENT PERIOD

6.755.000,00

-46.799.000,00

-4.900.000,00

20.887.000,00



Partial Financials:

Amounts shown in Czech Koruna (CZK)  

2008

2007

 



Equity & Liabilities

 

Share capital

104.500.000,00

104.500.000,00




The company is obliged by law to publish its financial statements.
The balance sheet data are from official sources.
2007 The financial data have not been issued yet.
The (official) balance sheet for 2002, 2003, 2004 includes mistakes in data structure or incorrect data.

 

 

 

Approximate Exchange Rates:

2007: 27,762 CZK = 1 EUR
2006: 28,343 CZK = 1 EUR
2005: 29,784 CZK = 1 EUR
2004: 31,904 CZK = 1 EUR
2003: 31,844 CZK = 1 EUR
2007: 20,308 CZK = 1 USD
2006: 22,609 CZK = 1 USD
2005: 23,947 CZK = 1 USD
2004: 25,701 CZK = 1 USD
2003: 28,227 CZK = 1 USD

 

 

 

Bankers

 

 

Komerční banka, a.s. - Account no. 3509-451/0100
Jablonec nad Nisou

 

 

Ratios

 

 

2006

2005

2004

2003

Liquidity Ratio - 3.stage
current assets / (Short-term liabilities + Short-term bank credits and loans)

2,39

1,94

2,17

2,01

Liquidity Ratio - 2.stage
(Short-term receivables + Liquid assets) / (Short-term liabilities + Short-term bank credits and loans)

0,43

0,44

0,53

0,68

Liquidity Ratio - 1.stage
Liquid assets / (Short-term liabilities + Short-term bank credits and loans)

0,08

0,08

0,16

0,17

Return on assets (ROA)
(Net result / TOTAL ASSETS) * 100

2,39

NEGATIVE

NEGATIVE

5,30

Return on equity (ROE)
(Net result / Equity capital) * 100

4,09

NEGATIVE

NEGATIVE

9,41

Return on sales ( ROS )
Net profit / Turnover

2,64

NEGATIVE

NEGATIVE

3,69

Receivables Maturity Date (day)
(Short-term receivables / Turnover) * 365

44,72

57,18

46,22

50,23

Liabilities Maturity Date (day)
(Short-term liabilities / Turnover) * 365

74,80

110,34

68,85

49,62

Debt Ratio
(Liabilities / Total Liabilities) * 100

41,13

49,47

38,82

43,52

Stock rotation in days
stock / (production consumption + expenses on sold goods) * 360

0

0

0

0

Net working capital
Current assets - Short term liabilities

CZK 162.540.000,00

CZK 156.392.000,00

CZK 198.400.000,00

CZK 229.040.000,00




Average values of ratios of enterprises with 100 or more employees in the sector of manufacturing n.e.c. are following:

Liquidity Ratio - 3.stage: 1,7
Liquidity Ratio - 2.stage: 1,2
Liquidity Ratio - 1.stage: 0,3
ROA: 6,0 %
ROE: 12,0 %
Receivables Maturity Date: 70 days
Liabilities Maturity Date: 75 days
Debt Ratio: 55 %

 

 

 

 

 

 

 

 

 

ADDITIONAL INFORMATION

 

 

 

Contact With Company:          

Name and surname: Mrs. Nováková
Function: Chief accountant
Date: 10.07.2008
Information given in report has been confirmed.

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.16

UK Pound

1

Rs.85.51

Euro

1

Rs.67.95

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions