MIRA
INFORM REPORT
|
Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FRUITS CMR SA |
|
|
|
|
Registered Office : |
Mercado Mercabarna - Cl Longitudinal 7, 57 08040
Barcelona (Barcelona) |
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|
|
|
Country : |
Spain |
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|
|
|
Financials (as on) : |
31.12.2006 |
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|
Date of Incorporation : |
13.11.1986 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
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|
Line of Business : |
Wholesale of Fruits, Vegetables, Greenness |
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
FRUITS CMR SA
TAX NUMBER: A58267683
Identification and
Characteristics
|
TAX
NUMBER |
A58267683 |
|
NAME |
FRUITS CMR SA |
|
BUSINESS ADDRESS |
MERCADO MERCABARNA - CL LONGITUDINAL
7, 57 |
|
Postcode |
08040 BARCELONA (Barcelona) |
|
FORMER ADDRESS |
MERCADO MERCABARNA CL LONGUITUDINAL
NAVE 21 |
|
Postcode |
08040 BARCELONA (Barcelona) |
|
URL |
http://www.cmrfruits.com |
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TELEPHONE
|
932626600 |
|
FAX
|
932626601 |
|
LEGAL
FORM |
JOINT STOCK COMPANY |
|
DATE
FOUNDED |
13/11/1986 |
|
CAPITAL |
1.000.000,00 Euros |
|
PAID-UP
CAPITAL |
1.000.000,00 Euros |
|
NUMBER
OF EMPLOYEES |
120 |
|
ACTIVITY |
1612300 - Wholesale of fruits, vegetables,
greenness |
|
CNAE |
5131 - Wholesale of fruit and
vegetables |
|
EXPORT
COMPANY |
YES |
|
IMPORT
COMPANY |
YES |
|
* Characteristics
of the main address |
|
|
According to our investigations
dated 01/02/2008 these premises are used as store
located in a secondary shopping centre . |
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Synthesis
|
FINANCIAL
SITUATION (Year ending: 31/12/2006) |
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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 1.199.998,80
Max. |
Financial Elements
Figures given in Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Balance
sheet 2.006 (12) |
% Sales
|
|
|
SALES |
45.355.337,08 |
51.547.944,12 |
55.656.302,29 |
|
|
|
ADDED VALUE |
4.953.516,38 |
5.027.386,48 |
6.289.129,37 |
11,30 |
|
|
BUSINESS RESULT |
1.018.007,42 |
886.609,20 |
1.359.201,49 |
2,44 |
|
|
OWN FUNDS |
6.261.475,93 |
7.046.285,13 |
8.317.486,62 |
|
|
|
DEBT |
10.882.028,14 |
10.857.904,29 |
9.914.779,95 |
|
|
|
TOTAL ASSET |
17.143.504,07 |
17.904.189,42 |
18.232.266,57 |
|
|
|
The sales of 55.656.302,29
Euros show a change of 7,97% compared with
2.005 . Between 2.004 and 2.005 , this
change was 13,65% . |
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|
Added value grew by 25,10%
compared with the previous year. Shareholders equity are 8.317.486,62
Euros for an indebtedness of 9.914.779,95 Euros
. |
|||||
|
The result 1.359.201,49
Euros means financial profitability of 16,34% and
economic profitability of 7,45% . This result means growth of
53,30% 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: 01/10/2007 |
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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 |
|||||
|
Profit and Loss |
1.359.201 |
||||
|
Total
of Amounts to be distributed |
1.359.201 |
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Distribution a |
|||||
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Voluntary Reserve |
1.087.401 |
||||
|
Dividends |
271.800 |
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|
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Auditors’
opinion: |
|||||
|
FAVOURABLE WITH RESERVATIONS (2.006) |
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Auditors: |
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PROFECSA S.A. |
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Auditing
Provisos |
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Close Date:
31/12/2006 |
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|
EL CAPITULO DE “INMOVILIZACIONES
FINANCIERAS” RECOGE LA INVERSION EN LA EMPRESA FILIAL CMR MADRID S.L., PARTICIPADO
AL CIEN POR CIEN A SU COSTE DE ADQUISICION. LA SOCIEDAD NO HA REGISTRADO LA
DEPRECIACION DE DICHA INVERSION A LA FECHA DE CIERRE DEL EJERCICIO, MOTIVADA
POR LAS PERDIDAS DEL EJERCICIO, POR IMPORTE DE 43.763 EUROS. |
|||||
Comparative Sector Analysis
|
|
Company |
Sector |
Difference |
|
|
(2.006)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
99,14 |
96,24 |
2,90 |
|
ADDED
VALUE |
11,20 |
9,77 |
1,43 |
|
BUSINESS
RESULT |
2,42 |
2,23 |
0,19 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
45,62 |
33,32 |
12,30 |
|
DEBT |
54,38 |
66,68 |
-12,30 |
Compared sector (CNAE): 513 - Wholesale of
food, beverages and tobacco
Number of companies: 186
Size (Sales Figure): > 40.000.000,00
Euros
The turnover of the company is 2,90%
above the mean for the sector.
The company’s added value was 11,20%
s/ the production value, and 1,43% above the mean for the sector.
The company’s business result was 2,42%
of the PV, 0,19% above the mean for the sector.
The company’s own resources are 45,62%
, 12,30% above the mean for the sector.
The company’s outside resources are
54,38% , 12,30% 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:
1 Company / Companies in Insolvency Proceedings
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
SOLE ADMINISTRATOR |
MARTI SOUSA CARLOS |
17/05/2007 |
|
AUDITOR |
PROFECSA SA |
13/02/2008 |
Functional Managers
|
Position |
Surname and name |
|
FINANCIAL MANAGER |
INGLADA PIERA MONTSERRAT |
|
COMMERCIAL MANAGER |
MARTI INGLADA JORDI |
|
MARKETING MANAGER |
MOLINA CARLOS |
|
EXPORTS MANAGER |
MARTI INGLADA CARLES |
Financial Links
|
Shareholders |
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|
Company Name |
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|
Source |
Information Date |
|
CARLOS MARTI SOUSA |
|
Indet. |
OWN SOURCES |
01/02/2008 |
|
Shareholdings |
|||||
|
Company Name |
CIF/Country |
Percent. |
Source |
Information Date |
|
|
|
B63273106 |
100,00% |
OWN SOURCES |
20/12/2007 |
|
|
CMR HOLLAND |
PAÍSES BAJOS |
100,00% |
VANGUARDIA |
04/01/2008 |
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Company with solvency rating
below 7 |
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CMR MADRID SL.
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Appointments |
13/02/2008 |
078136 |
Barcelona |
|
Registration of accounts
(2006) Consolidated |
06/11/2007 |
953267 |
Barcelona |
|
Registration of accounts
(2005) Consolidated |
06/11/2007 |
953259 |
Barcelona |
|
Registration of accounts
(2006) |
30/10/2007 |
912705 |
Barcelona |
|
Appointments |
17/05/2007 |
267283 |
Barcelona |
Press articles
|
|
||
|
04/01/2008 |
VANGUARDIA |
SUBSIDIARIES INFORMATION |
|
EL GRUPO CMR, DEDICADO A LA
COMERCIALIZACION E IMPORTACION DE HORTALIZAS Y FRUTA, HA DADO EL SALTO AL MERCADO
EUROPEO CON LA CREACION DE CMR HOLLAND Y LA APERTURA DE UNA OFICINA COMERCIAL
QUE EMPEZARA A OPERAR EN PERPIŃAN COMO PUNTO DE PARTIDA DE SU EXPANSION
INTERNACIONAL. EN 2007 EL GRUPO HA ALCANZA DO UNA CIFRA DE VENTAS DE CERCA DE
90 MM. DE EUROS, DE LOS CUALES 22 MM. CO RRESPONDEN A SU EMPRESA COMERCIAL
INFINITA DE MADRID. ACTUALMENTE, CMR CO MERCIALIZA UNAS 80.000 TONELADAS DE
FRUTAS Y HORTALIZAS Y LA CIA. PREVE CRE CER UN 15% EN 2008. UN AŃO DESPUES
INAUGURARA NUEVAS INSTALACIONES EN BARCE LONA, CON 7.000 MTS. CUADRADOS EN LA
ZONA FRANCA. |
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|
||
|
01/08/2005 |
EXPANSIÓN |
COMPANIES AGREEMENTS INFORMATIONS |
|
LA EMPRESA DE PRODUCCION, ENVASADO Y
DISTRIBUCION DE PRODUCTOS HORTICOLAS VITACRESS HA ALCANZADO ACUERDOS DE DISTRIBUCION
CON LOS GRUPOS FELIX PALA CIOS, DE MADRID, Y FRUITS CMR, DE BARCELONA, PARA
COMERCIALIZAR SU GAMA DE ENSALADAS Y OTROS PRODUCTOS VEGETALES DIRIGIDOS A
LOS CANALES DE DETALLE, MAYOR Y HOSTELERIA. |
||
Remarks for customer
Linked by its board members to COMERCIAL
INFINITA SA (A78468311), TEULA HOUSE SL (B62429063).
Brands, Signs and Commercial
Names
|
Prevailing Brands |
|||||
|
Name: |
COSARICA |
||||
|
Kind of Brand: |
JOINT |
File: |
M2734609 |
||
|
Request Date: |
10/10/2006 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 35 |
|
||||
|
Name: |
CMR GROUP |
||||
|
Kind of Brand: |
JOINT |
File: |
M2628298 |
||
|
Request Date: |
20/12/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 39 |
|
||||
|
Name: |
FRESHSALAD |
||||
|
Kind of Brand: |
DENOMINATIVE |
File: |
M2624834 |
||
|
Request Date: |
26/11/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 31 |
|
||||
|
Name: |
CMR GROUP |
||||
|
Kind of Brand: |
JOINT |
File: |
M2600573 |
||
|
Request Date: |
07/06/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 35 |
|
||||
|
Name: |
CMR GROUP |
||||
|
Kind of Brand: |
JOINT |
File: |
M2597340 |
||
|
Request Date: |
19/05/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 39 |
|
||||
Total Marcas: 17
|
|
|
|
Commercial Experience |
|
|
|
|
|
PURCHASES |
|
|
Imports:: |
|
|
TODO EL MUNDO |
|
|
|
|
|
SALES |
|
|
Exports:: |
|
|
UNION EUROPEA |
|
|
|
|
|
Suppliers |
International |
|
AGRUPAPULPI |
|
|
|
|
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Total 1 |
|
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
5404 |
PASSEIG DE LA ZONA FRANCA, 168 |
BARCELONA |
Barcelona |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
0805 |
MERCABARNA, LONGITUDINAL 4 N. 22 |
BARCELONA |
Barcelona |
|
CAJA DE AHORROS DEL MEDITERRANEO |
6854 |
ZONA FRANCA, 1 LOCAL 10 SECTOR C |
BARCELONA |
Barcelona |
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 01/10/2007
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
7.807.059,90 |
7.127.781,30 |
6.480.879,53 |
|
|
I. Establishment expenses |
|
|
|
|
|
II. Intangible assets |
5.196.925,96 |
4.811.506,96 |
4.426.075,18 |
|
|
Concessions, patents,licences , trademarks |
1.809.749,44 |
1.809.749,44 |
1.809.749,44 |
|
|
Software |
277.516,24 |
277.516,24 |
277.516,24 |
|
|
Leasing |
4.121.443,88 |
4.121.443,88 |
4.121.443,88 |
|
|
Amortization |
-1.011.783,60 |
-1.397.202,60 |
-1.782.634,38 |
|
|
III. Tangible assets |
1.887.030,00 |
1.558.135,19 |
1.267.915,58 |
|
|
Property, plant and equipment |
441.264,44 |
441.264,44 |
441.264,44 |
|
|
Machinery, equipment and other |
367.771,10 |
355.836,07 |
351.571,07 |
|
|
Other property plant and equipement |
1.987.087,14 |
2.009.184,99 |
2.027.677,56 |
|
|
Prepaid expenses on fixed assets |
20.489,75 |
|
1.720,00 |
|
|
Other assets |
335.898,92 |
343.104,10 |
367.773,06 |
|
|
Depreciation |
-1.265.481,35 |
-1.591.254,41 |
-1.922.090,55 |
|
|
IV. Financial assets |
723.103,94 |
758.139,15 |
786.888,77 |
|
|
Shares in affiliated companies |
400.000,00 |
400.000,00 |
428.750,00 |
|
|
Securities |
6.000,00 |
6.000,00 |
6.000,00 |
|
|
Other loans |
254.016,17 |
289.051,38 |
289.051,00 |
|
|
Long term deposits and guarantees |
63.087,77 |
63.087,77 |
63.087,77 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
333.577,93 |
245.561,85 |
163.320,97 |
|
|
D) CURRENT ASSETS |
9.002.866,24 |
10.530.846,27 |
11.588.066,07 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
708.016,00 |
1.358.720,28 |
966.040,63 |
|
|
Goods available for sale |
679.053,61 |
825.296,74 |
439.853,17 |
|
|
Cash advance |
28.962,39 |
533.423,54 |
526.187,46 |
|
|
III. Debtors |
8.002.728,51 |
8.972.628,92 |
8.997.468,94 |
|
|
Clients |
7.304.502,32 |
8.252.329,42 |
8.573.901,90 |
|
|
Amounts owned by affiliated companies |
292.551,94 |
492.551,94 |
640.575,28 |
|
|
Other debts |
868.415,80 |
746.967,42 |
627.773,05 |
|
|
Labor costs |
6.120,21 |
80.347,81 |
|
|
|
Taxes refunds |
38.492,59 |
339,72 |
339,72 |
|
|
Provisions |
-507.354,35 |
-599.907,39 |
-845.121,01 |
|
|
IV. Short term financial assets |
131.731,15 |
150.076,46 |
802.852,97 |
|
|
Short term investment |
252.990,38 |
252.990,38 |
880.028,80 |
|
|
Provisions |
-121.259,23 |
-102.913,92 |
-77.175,83 |
|
|
V. Short term owners equity |
|
|
|
|
|
VI. Cash |
143.477,10 |
31.420,61 |
821.417,12 |
|
|
VII. Prepaid expenses and accrued income |
16.913,48 |
18.000,00 |
286,41 |
|
|
ASSETS (A + B + C + D) |
17.143.504,07 |
17.904.189,42 |
18.232.266,57 |
Balance Sheet (LIABILITIES)
|
(Figures given in Euros) |
31/12/2004 (12) |
31/12/2005 (12) |
31/12/2006 (12) |
|
|
|
A) SHAREHOLDERS EQUITY |
6.261.475,93 |
7.046.285,13 |
8.317.486,62 |
|
|
I. Capital |
1.000.000,00 |
1.000.000,00 |
1.000.000,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
4.243.468,51 |
5.159.675,93 |
5.958.285,13 |
|
|
Retained earnings |
200.000,00 |
200.000,00 |
200.000,00 |
|
|
Other funds |
4.043.468,51 |
4.959.675,93 |
5.758.285,13 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
1.018.007,42 |
886.609,20 |
1.359.201,49 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
3.891.412,87 |
3.052.938,75 |
2.299.584,97 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
3.840.326,87 |
3.001.852,75 |
2.248.498,97 |
|
|
Long term bank loans |
3.840.326,87 |
3.001.852,75 |
2.248.498,97 |
|
|
III. Debts with associed and affiliated companies |
|
|
|
|
|
IV. Other creditors |
51.086,00 |
51.086,00 |
51.086,00 |
|
|
Long term deposit and guaranties |
51.086,00 |
51.086,00 |
51.086,00 |
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
6.990.615,27 |
7.804.965,54 |
7.615.194,98 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
1.101.127,94 |
1.199.019,38 |
757.207,43 |
|
|
Loans and other debts |
1.101.127,94 |
1.199.019,38 |
757.207,43 |
|
|
III. Short term debts with associated and affiliated companies |
|
|
|
|
|
IV. Trade creditors |
5.431.514,33 |
6.196.092,98 |
6.172.549,38 |
|
|
Expenses |
5.097.379,17 |
5.188.588,26 |
5.312.920,18 |
|
|
Bills payable |
334.135,16 |
1.007.504,72 |
859.629,20 |
|
|
V. Other non trade payables |
457.973,00 |
409.853,18 |
685.438,17 |
|
|
Government |
295.186,48 |
263.534,41 |
428.467,46 |
|
|
Other debts |
|
184,24 |
|
|
|
Accounts receivable |
162.786,52 |
146.134,53 |
256.970,71 |
|
|
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) |
17.143.504,07 |
17.904.189,42 |
18.232.266,57 |
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) |
44.925.882,82 |
51.283.060,15 |
55.296.901,42 |
|
|
A.1. Change in stocks of finished goods and work in progress |
|
|
|
|
|
A.2. Supplies |
39.011.827,91 |
44.925.484,57 |
47.793.794,85 |
|
|
Material consumed |
39.011.827,91 |
44.655.170,11 |
47.793.794,85 |
|
|
Raw materials consumed |
|
270.314,46 |
|
|
|
A.3. Labor cost |
2.699.776,81 |
2.809.306,45 |
3.252.663,14 |
|
|
Wages |
2.177.725,26 |
2.266.955,90 |
2.630.817,79 |
|
|
Social security expenses |
522.051,55 |
542.350,55 |
621.845,35 |
|
|
A.4. Assets depreciation |
630.854,05 |
722.510,20 |
721.628,51 |
|
|
A.5 Variance in provision for current assets |
23.745,78 |
92.553,04 |
244.633,39 |
|
|
Variance in provision for bad debts |
23.745,78 |
92.553,04 |
244.633,39 |
|
|
A.6. Other operating costs |
1.824.177,64 |
2.060.543,28 |
2.058.929,89 |
|
|
External costs |
1.779.531,05 |
2.027.335,61 |
2.024.024,92 |
|
|
Taxes |
44.646,59 |
30.559,16 |
31.058,00 |
|
|
Other day to day expenses |
|
2.648,51 |
3.846,97 |
|
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
1.599.139,74 |
1.403.016,79 |
2.070.204,33 |
|
|
A.7. Financial expenses |
150.575,86 |
140.022,68 |
144.600,24 |
|
|
Other companies debts |
150.575,86 |
140.022,68 |
144.600,24 |
|
|
A.8. Variation in financial investments provision |
-12.909,70 |
-18.345,31 |
-18.428,24 |
|
|
A.9. Exchange losses |
41.035,86 |
33.275,78 |
19.968,44 |
|
|
A.II. POSITIVE FINANCIAL RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
|
|
95.751,72 |
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
1.555.492,51 |
1.395.984,71 |
2.165.956,05 |
|
|
A.10. Variation in provision in fixed assets |
|
|
|
|
|
A.11. Losses in fixed assets |
4.284,57 |
9.266,89 |
264.129,60 |
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
710,71 |
4.816,69 |
1.046,00 |
|
|
A.14. Prior year’s expenses and losses |
8.648,80 |
|
68.293,34 |
|
|
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) |
5.669,44 |
|
|
|
|
A.V. EARNINGS / LOSS BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
1.561.161,95 |
1.390.235,08 |
2.104.843,75 |
|
|
A.15. Corporate Taxes |
543.154,53 |
503.625,88 |
745.642,26 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT) (A.V-A.15-A.16) |
1.018.007,42 |
886.609,20 |
1.359.201,49 |
|
|
B) INCOMES (B.1 a B13) |
45.943.890,24 |
52.169.669,35 |
56.656.102,91 |
|
|
B.1. Turnover |
45.355.337,08 |
51.547.944,12 |
55.656.302,29 |
|
|
Sales |
45.413.565,75 |
51.654.603,77 |
55.833.691,59 |
|
|
Services provided |
|
5.364,20 |
|
|
|
Discounts |
-58.228,67 |
-112.023,85 |
-177.389,30 |
|
|
B.2. Increase in inventory of finished goods |
|
|
|
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
434.184,85 |
465.470,21 |
485.551,82 |
|
|
Other incomes |
434.184,85 |
464.840,21 |
485.551,82 |
|
|
Grants |
|
630,00 |
|
|
|
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 |
|
|
|
|
|
B.6. Income from securities |
|
|
|
|
|
B.7. Other income from interrest |
17.876,35 |
14.094,03 |
21.886,88 |
|
|
From other companies |
10.588,76 |
12.720,01 |
20.554,15 |
|
|
Gains from investments |
7.287,59 |
1.374,02 |
1.332,73 |
|
|
B.8. Gains on exchange |
117.178,44 |
133.827,04 |
220.005,28 |
|
|
B.II. FINANCIAL LOSSES (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
43.647,23 |
7.032,08 |
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
|
6.000,00 |
9,31 |
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
19.313,52 |
2.333,95 |
25.412,84 |
|
|
B.13. Prior year’s income and profits |
|
|
246.934,49 |
|
|
B.IV. EXTRAORDINARY LOSSES (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
5.749,63 |
61.112,30 |
|
|
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 |
-2,15 |
13,65 |
7,97 |
|
|
Assets Turnover |
2,65 |
2,88 |
3,05 |
|
|
Productivity |
1,84 |
1,79 |
1,93 |
|
|
Increase of the Added Value |
-10,15 |
1,49 |
25,10 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
5,94 |
4,95 |
7,46 |
|
|
Financial Profitability |
16,26 |
12,58 |
16,34 |
|
|
Financial Expenses |
0,33 |
0,27 |
0,26 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
64,00 |
63,00 |
58,00 |
|
|
Suppliers’ Credit (In days of sales) |
50,00 |
50,00 |
46,00 |
|
|
Working Capital (In days of sales) |
16,00 |
19,00 |
26,00 |
|
|
Working Capital Requirement (In days of sales) |
23,00 |
26,00 |
20,00 |
|
|
Treasury (In days of sales) |
0,00 |
0,00 |
6,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
2.012.250,97 |
2.725.880,73 |
3.972.871,09 |
|
|
Working Capital Requirement |
2.838.170,66 |
3.743.403,04 |
3.105.808,43 |
|
|
Treasury |
-825.919,69 |
-1.017.522,31 |
867.062,66 |
|
|
Balance Ratio |
1,25 |
1,37 |
1,60 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
63,48 |
60,64 |
54,38 |
|
|
Own / Permanent Funds |
61,67 |
69,77 |
78,34 |
|
|
Payback Capacity |
0,24 |
0,21 |
0,18 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,29 |
1,35 |
1,52 |
|
|
Immediate Liquidity |
0,04 |
0,02 |
0,21 |
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 |
0,03 |
-0,03 |
|
B) FIXED ASSETS |
35,55 |
42,32 |
-6,77 |
|
C) ACCRUED EXPENSES |
0,90 |
0,12 |
0,78 |
|
D) CURRENT ASSETS |
63,56 |
57,51 |
6,05 |
|
TOTAL ASSETS (A + B + C + D) |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
A) SHAREHOLDERS EQUITY |
45,62 |
33,32 |
12,30 |
|
B) ACCRUED INCOME |
0,00 |
1,27 |
-1,27 |
|
C) RISK AND EXPENDITURE COVER |
0,00 |
3,38 |
-3,38 |
|
D) LONG-TERM CREDITORS |
12,61 |
12,34 |
0,27 |
|
E) SHORT-TERM CREDITORS |
41,77 |
49,65 |
-7,88 |
|
F) SHORT-TERM RISK AND EXPENDITURE COVER |
0,00 |
0,02 |
-0,02 |
|
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 |
99,14 |
96,24 |
2,90 |
|
Other operating income |
0,86 |
3,75 |
-2,89 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
85,13 |
80,55 |
4,58 |
|
Other operation expenses |
3,67 |
9,67 |
-6,00 |
|
Added value |
11,20 |
9,77 |
1,43 |
|
Labor cost |
5,79 |
5,44 |
0,35 |
|
Gross Economic Result |
5,41 |
4,33 |
1,08 |
|
Assets depreciation |
1,29 |
1,16 |
0,13 |
|
Variation in provision for current assets |
0,44 |
0,09 |
0,35 |
|
Net Economic Result |
3,69 |
3,07 |
0,62 |
|
Financial income |
0,43 |
1,04 |
-0,61 |
|
Financial expenses |
0,26 |
1,00 |
-0,74 |
|
Variation in financial investment provision |
-0,03 |
0,00 |
-0,04 |
|
Ordinary Activities Result |
3,86 |
3,10 |
0,76 |
|
Extraordinary income |
0,49 |
0,67 |
-0,18 |
|
Extraordinary expenses |
0,59 |
0,35 |
0,24 |
|
Variation in provision in fixed assets |
0,00 |
0,41 |
-0,41 |
|
Results before Taxes |
3,75 |
3,01 |
0,74 |
|
Corporaye taxes |
1,33 |
0,77 |
0,56 |
|
Net Result |
2,42 |
2,23 |
0,19 |
|
Assets depreciation |
1,29 |
1,16 |
0,13 |
|
Provisions fund variation |
0,40 |
0,51 |
-0,11 |
|
Net Self-Financing |
4,11 |
3,92 |
0,19 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.006 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
7,97 |
-0,32 |
5,53 |
12,18 |
|
Assets Turnover |
3,05 |
1,63 |
2,22 |
3,27 |
|
Fixed Assets Turnover |
8,38 |
4,77 |
9,60 |
22,44 |
|
Increase of the Added Value |
25,10 |
-5,60 |
5,84 |
14,96 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,93 |
1,37 |
1,66 |
2,38 |
|
Change of Personnel Costs |
15,78 |
2,53 |
7,87 |
14,40 |
|
Average Personnel Costs |
30.977,74 |
20.970,00 |
28.330,00 |
39.720,00 |
|
Value Added by Employees |
59.896,47 |
32.170,00 |
51.560,00 |
86.480,00 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
2.307.035,15 |
739.000,00 |
1.539.090,00 |
3.629.840,00 |
|
Operating Cash Flow |
3.036.466,23 |
942.060,00 |
1.845.050,00 |
4.262.710,00 |
|
Change in Cash Flow |
37,05 |
-18,66 |
6,45 |
28,26 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
7,46 |
1,08 |
2,57 |
5,78 |
|
Financial Profitability |
16,34 |
5,20 |
10,42 |
18,77 |
|
Financial Expenses |
0,26 |
0,14 |
0,49 |
0,90 |
|
Gross Economic Profitability |
16,65 |
3,72 |
6,43 |
10,24 |
|
Gross Financial Profitability |
36,51 |
15,11 |
23,27 |
38,65 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
58,00 |
41,22 |
62,87 |
95,52 |
|
Suppliers’ Credit (In days of sales) |
46,00 |
29,77 |
49,10 |
79,86 |
|
Working Capital (In days of sales) |
25,00 |
2,57 |
17,77 |
37,78 |
|
Working Capital Requirement (In days of sales) |
20,00 |
-0,08 |
24,86 |
67,19 |
|
Treasury (In days of sales) |
5,00 |
-39,89 |
-6,15 |
14,97 |
|
Operating Current Assets |
74,00 |
73,84 |
110,84 |
158,09 |
|
BALANCE |
|
|
|
|
|
Working Capital |
3.972.871,09 |
435.180,00 |
3.034.530,00 |
7.303.300,00 |
|
Working Capital Requirement |
3.105.808,43 |
-30.640,00 |
4.012.080,00 |
13.992.920,00 |
|
Treasury |
867.062,66 |
-6.543.680,00 |
-1.062.030,00 |
2.624.020,00 |
|
Balance Ratio |
1,60 |
1,04 |
1,50 |
2,78 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
54,38 |
56,61 |
69,85 |
80,99 |
|
Own / Permanent Funds |
78,34 |
59,10 |
79,38 |
96,54 |
|
Payback Capacity |
0,18 |
0,19 |
0,28 |
0,41 |
|
Long term Indebtedness |
12,61 |
0,07 |
4,39 |
13,11 |
|
Gearing |
219,20 |
245,56 |
377,39 |
553,94 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
1,82 |
1,23 |
1,42 |
1,76 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
1,52 |
1,02 |
1,19 |
1,45 |
|
Immediate Liquidity |
0,21 |
0,02 |
0,10 |
0,29 |
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%)