MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAAG GEAR ZAMECH SPÓLKA Z O.O. |
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Registered Office : |
Stoczniowa 2 82-300 Elbląg |
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Country : |
Poland |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
July 1999 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Bearings, Gears, Gearing and Driving Elements |
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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
ADDRESS DATA
MAAG GEAR ZAMECH SPÓŁKA Z O.O.
STOCZNIOWA 2
82-300 ELBLĄG
Tel. 055/2364730
Fax. 055/2327944
E-mail: mge@maag.pl
BASIC DATA
REGONCODE 170768485
VAT: 578-25-71-936
Nationwide Court Register KRS 0000028958
Legal form: LIMITED LIABILITY COMPANY
Status: ACTIVE
Start of activity: 1999/07/
Registering agency COURT OF COMMERCE, OLSZTYN
Type : NATIONAL COURT
REGISTER
Date of registration: 2001/08/08
NACE code 29.14
Manufacture of bearings, gears, gearing and driving elements
ORGANIZATIONAL-LEGAL DATA
Register capital:
Value : 31449500.00
PLN
Number of shares: 62899
SHAREHOLDER:
MAAG GEAR AG
Identifier CEN0004388CZ
CH
Sulzer-Allee 48
P.O. Box
CH-8404 Winterthur
Switzerland
Tel. 41 (0) 52 262 88 88
Fax. 41 (0) 52 262 87 32
http:// www.maag-gear.com
E-mail: maag-gear@maag-gear.ch
Value : 31449500.00 PLN
Quant: 62899
SUPERVIS.BOARD:
Surname : BOEG
Names :
FLEMMING
SUPERVIS.BOARD:
Surname :
KLEISLI
Names :
MICHAEL
SUPERVIS.BOARD:
Surname : DAN
Names :
NIELSEN
MANAG.:
PRESIDENT OF THE BOARD
Representation : SOLE SIGNATURE
Surname :
BERLIŃSKI
Names : PIOTR
WŁADYSŁAW
PESEL :
64032800870
Citizenship : Poland
Addr.:
Country code : Poland
MANAG.:
MEMBER OF THE BOARD
Representation : SOLE
SIGNATURE
Surname :
ZAJĄC
Names :
WŁODZIMIERZ WOJCIECH
PESEL :
55031506553
Citizenship : Poland
Addr.:
Country code : Poland
SHARES IN OTHER COMPANIES
Note reported
EMPLOYMENT
Total (MIN MAX) Productive(MIN
MAX) Unprod.(MIN MAX) DATE FROM DATE TO
130-130 -
- 2007/01/01- 2007/12/31
130-130 - -
2006/01/01- 2006/12/31
118-118 - -
2005/01/01- 2005/12/31
REAL ESTATE
Real estate: BD BUILDINGS AND
CONSTRUCTIONS
OWN: Area from to Value Cur Number of mortgage reg.
- 584800.00 PLN
2007/12/31
SALES: (PLN)
2007/01/01 - 2007/12/31
179861800.00
2006/01/01 - 2006/12/31
90968800.00
FINANCIAL DATA: (PLN)
Balance
sheet as on 2006/12/31 2007/12/31
ASSETS
A. Total non-current assets:
27476300.00 43315800.00
I.Intangible assets:
231400.00 307600.00
1.Costs of development activities: 0.00 0.00
2.Goodwill: 0.00 0.00
3.Other intangible fixed assets: 231400.00 307600.00
4.Prepayments for intangible
assets:
0.00 0.00
II.Fixed assets: 24211400.00 27574300.00
1.tangible fixed assets:
19188900.00 19241600.00
a)land:
0.00 0.00
b)buildings: 52700.00 584800.00
c)machinery and equipment:
15068300.00 15450200.00
d)vehicles: 166500.00 224000.00
e)other tangible fixed assets:
3901400.00 2982600.00
2.Investments in progress:
2379000.00 468400.00
3.Investments in progress paid on
accounts:
2643500.00 7864300.00
III.Long-term receivables:
0.00 0.00
1.From related companies:
0.00 0.00
2.From other companies: 0.00 0.00
IV.Long-term investments:
0.00 0.00
1.Real-estate property:
0.00 0.00
2.Intangible assets:
0.00 0.00
3.Long-term financial assets:
0.00 0.00
a)in related companies: 0.00 0.00
- shares: 0.00 0.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other long-term financial
assets:
0.00 0.00
b)in other companies: 0.00 0.00
- shares: 0.00 0.00
- other commercial papers:
0.00 0.00
- provided loans: 0.00 0.00
- other long-term financial
assets:
0.00 0.00
4.Other long-term investments:
0.00 0.00
V.Long-term interperiod settlements: 3033500.00 15433900.00
1.Assets from deffered income tax: 3033500.00 15433900.00
2.Others: 0.00 0.00
B. Current assets: 65093900.00 128902900.00
I.Inventory
12617700.00 27424300.00
1.Materials: 905900.00 2570300.00
2.Semi-products and work in
progress:
11297900.00 24248400.00
3.Finished goods: 0.00 0.00
4.Products: 0.00 0.00
5.Advance payment for delivery:
413900.00 605600.00
II.Accounts receivable:
25438500.00 98141700.00
1.From related companies:
18555000.00 82666100.00
a)trade receivables:
4672800.00 2931400.00
b)others: 13882200.00 79734700.00
2.From other companies:
6883500.00 15475600.00
a)trade receivables: 2610200.00 1363200.00
b)tax and social receivables:
4148300.00 13967600.00
c)other receivables:
125000.00 144800.00
d)accounts receiv. result. from
disputable claims:
0.00 0.00
III.Short-term investments: 27034800.00 3266400.00
1.Short-term financial assets:
27034800.00 3266400.00
a)in related companies:
0.00 0.00
- shares: 0.00 0.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other short-term financial
assets:
0.00 0.00
b)in other companies:
0.00 0.00
- shares: 0.00 0.00
- other commercial papers:
0.00 0.00
- provided loans:
0.00 0.00
- other short-term financial
assets:
0.00 0.00
c)cash and other cash assets:
27034800.00 3266400.00
2.Other short-term investments: 0.00 0.00
IV.Short-term interperiod settlements: 2900.00 70500.00
Total assets
(A+B): 92570200.00 172218700.00
LIABILITIES
A. Net worth:
10153400.00 24980000.00
I.Issued capital: 18000000.00 31449500.00
II.Outstanding but unpaid contribution for
share: 0.00 0.00
III.Entity's own capital (negative): 0.00 0.00
IV.Reserve capital: 0.00 0.00
V.Revaluation reserve:
0.00 0.00
VI.Other reserve capitals:
0.00 0.00
VII.Profit/loss brutto forward:
-9495200.00 -7846600.00
VIII.Net financial result for the year: 1648600.00 1377100.00
IX.Write-offs from net profit:
0.00 0.00
B.Liabilities & reserves:
82891100.00 147238700.00
I.Reserve for liabilities:
6296100.00 18747300.00
1.Reserves for deffered income tax: 3842100.00 15774300.00
2.Reserves for retirement and
similar: 2262000.00 2656000.00
- long-term:
2262000.00 2656000.00
- short-term:
0.00 0.00
3.Other reserves:
192000.00 317000.00
- long-term:
0.00 0.00
- short-term:
192000.00 317000.00
II.Long-term liabilities:
14305200.00 0.00
1.To related companies:
14305200.00 0.00
2.To other companies: 0.00 0.00
a)credits and loans:
0.00 0.00
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)other long-term liabilities:
0.00 0.00
III.Short-term liabilities: 61732500.00 128166200.00
1.To related companies:
47904600.00 105431700.00
a)trade payable:
1631600.00 674500.00
b)other:
46273000.00 104757200.00
2.To other companies:
13714400.00 22587200.00
a)bank loans: 1500.00 0.00
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)trade payables: 13206000.00 20869800.00
e)supplies paid on account:
0.00 1135800.00
f)notes payable:
0.00 0.00
g)tax & social securities:
382700.00 429500.00
h)payroll payable:
94700.00 113100.00
i)other short-term liabilities: 29500.00 39000.00
3.Special funds:
113500.00 147300.00
IV.Accrued liabilities:
557300.00 325200.00
1.Negative goodwill:
0.00 0.00
2.Other:
557300.00 325200.00
- long-term: 0.00 0.00
- short-term:
557300.00 325200.00
Total liabilties (A+B):
93044500.00 172218700.00
Balance sheet as on 2004/12/31 2005/12/31
ASSETS
A. Total non-current assets:
32410000.00 32060000.00
I.Intangible assets:
299000.00 263000.00
II.Fixed assets: 27172000.00 23976000.00
B. Current assets: 52214000.00 75730000.00
I.Inventory 18678000.00 14792000.00
II.Accounts receivable:
27643000.00 50735000.00
IV.Short-term interperiod settlements: 0.00 0.00
Total assets
(A+B): 84624000.00 107790000.00
LIABILITIES
A. Net worth: 5822000.00 8504000.00
I.Issued capital:
18000000.00 18000000.00
VII.Profit/loss brutto forward:
-19354000.00 -12177000.00
VIII.Net financial result for the year: 7177000.00 2682000.00
B.Liabilities & reserves:
78801000.00 99283000.00
I.Reserve for liabilities: 6111000.00 10014000.00
II.Long-term liabilities:
15852000.00 14872000.00
III.Short-term liabilities:
56504000.00 73818000.00
IV.Accrued liabilities: 334000.00 579000.00
Total liabilties (A+B):
84624000.00 107790000.00
Balance sheet as on 2002/12/31 2003/12/31
ASSETS
A. Total non-current assets:
25003000.00 36074000.00
I.Intangible assets:
207000.00 318000.00
II.Fixed assets: 24796000.00
31103000.00
B. Current assets: 22121000.00 33600000.00
I.Inventory
8591000.00 8518000.00
II.Accounts receivable:
13386000.00 23090000.00
IV.Short-term interperiod settlements: 0.00 0.00
Total assets
(A+B): 47124000.00 69674000.00
LIABILITIES
A. Net worth:
-5899000.00 -1354000.00
I.Issued capital: 18000000.00 18000000.00
VII.Profit/loss brutto forward:
-20391000.00 -23899000.00
VIII.Net financial result for the year: -3508000.00 4544000.00
B.Liabilities & reserves:
53023000.00 71028000.00
I.Reserve for liabilities:
1531000.00 4737000.00
II.Long-term liabilities: 9684000.00 18451000.00
III.Short-term liabilities:
41808000.00 47840000.00
IV.Accrued liabilities:
0.00 0.00
Total liabilties (A+B):
47124000.00 69674000.00
Balance sheet as on 2000/12/31 2001/12/31
ASSETS
A. Total non-current assets: 10163000.00 15313000.00
I.Intangible assets:
21000.00 241000.00
II.Fixed assets: 10142000.00 15072000.00
B. Current assets: 6439000.00 13030000.00
I.Inventory
2253000.00 4299000.00
II.Accounts receivable:
3650000.00 5698000.00
IV.Short-term interperiod settlements: 0.00 0.00
Total assets
(A+B): 16602000.00 28343000.00
LIABILITIES
A. Net worth:
-2315000.00 -2391000.00
I.Issued capital:
18000000.00 18000000.00
VII.Profit/loss brutto forward:
-4330000.00 -20315000.00
VIII.Net financial result for the year: -15985000.00 -76000.00
B.Liabilities & reserves: 18916000.00 30733000.00
I.Reserve for liabilities:
4173000.00 3322000.00
II.Long-term liabilities:
94000.00 0.00
III.Short-term liabilities:
14072000.00 26814000.00
IV.Accrued liabilities:
577000.00 597000.00
Total liabilties (A+B):
16602000.00 28343000.00
Balance
sheet as on 1999/12/31
ASSETS
A. Total non-current assets:
5658000.00
I.Intangible assets: 669000.00
II.Fixed assets:
4989000.00
B. Current assets:
15045000.00
I.Inventory
4218000.00
II.Accounts receivable:
10649000.00
IV.Short-term interperiod settlements: 19000.00
Total assets
(A+B):
20703000.00
LIABILITIES
A. Net worth:
-330000.00
I.Issued capital:
4000000.00
VIII.Net financial result for the year: -4330000.00
B.Liabilities & reserves:
21033000.00
I.Reserve for liabilities:
1447000.00
II.Long-term liabilities:
215000.00
III.Short-term liabilities:
18451000.00
IV.Accrued liabilities: 920000.00
Total liabilties (A+B):
20703000.00
Profit
and loss account (calc) 2006/12/31 2007/12/31
2006/01/01 2007/01/01
A. Net sales of goods and products:
88369100.00 177593000.00
- including to related companies 57233300.00 166696900.00
I. Net sales of products
88336500.00 177471700.00
II. Net sale of goods and materials 32600.00 121300.00
B. Operation expenses:
81851000.00 169831000.00
- including to related companies 57125800.00 164344600.00
I. Cost of production 81834600.00 169795100.00
II. Goods and materials at cost
16400.00 35900.00
C. Gross profit on sale(A-B)
6518100.00 7762000.00
D. Costs of sale 1319400.00 1768800.00
E. General administrative costs
3167900.00 4325400.00
F. Profit from sale (C-D-E)
2030800.00 1667800.00
G. Other operation incomes
1138400.00 1192300.00
I. Profit from sale of tangible assets 100.00 788900.00
II. Grants & subsidies 0.00 0.00
III. Other
1138300.00 403400.00
H. Other operating costs
761800.00 920900.00
I. Loss from sale of tangible assets 0.00 0.00
II. Revaluation of non-financial
assets
5000.00 0.00
III. Other operating costs
756800.00 920900.00
I. Profit from operating activity
(F+G-H)
2407400.00 1939200.00
J. Financial income 1461300.00 1076500.00
I. Dividends 0.00 0.00
- from subisdiaries and affiliates 0.00 0.00
II. Interest receivable
215400.00 378800.00
- from subisdiaries and affiliates 0.00 0.00
III. Profits from investment
transfeered
0.00 0.00
IV. Revaluation of investments 0.00 0.00
V. Other
1245900.00 697700.00
K. Financial costs 1474900.00 2106800.00
I. Interest payable including: 1474900.00 2106200.00
- to related companies
1382000.00 1995300.00
II. Loss from invetsments transffered 0.00 0.00
III. Revaluation of investments
0.00 0.00
IV. Other
0.00 600.00
L. Profit from economic activity (I+J-K) 2393800.00 908900.00
M. Extraordinary items (M.I - M.II) 0.00 0.00
I. Extraordinary incomes
0.00 0.00
II.Extraordinary losses 0.00 0.00
N. Gross profit for the year (L+M)
2393800.00 908900.00
O. Corporate income tax
745200.00 -468200.00
P. Other obligatory charges
0.00 0.00
R. Net profit for the year (N-O-P)
1648600.00 1377100.00
Profit
and loss account (calc) 2004/12/31 2005/12/31
2004/01/01 2005/01/01
A. Net sales of goods and products:
92641000.00 112601000.00
- including to related companies
I. Net sales of products
II. Net sale of goods and materials
B. Operation expenses:
- including to related companies
I. Cost of production
II. Goods and materials at cost
C. Gross profit on sale(A-B)
D. Costs of sale
E. General administrative costs
F. Profit from sale (C-D-E)
8549000.00 2412000.00
G. Other operation incomes
328000.00 3041000.00
I. Profit from sale of tangible assets
II. Grants & subsidies
III. Other
H. Other operating costs
4161000.00 1134000.00
I. Loss from sale of tangible assets
II. Revaluation of non-financial
assets
III. Other operating costs
I. Profit from operating activity
(F+G-H)
4715000.00 4319000.00
J. Financial income 6866000.00 862000.00
I. Dividends
- from subisdiaries and affiliates
II. Interest receivable
- from subisdiaries and affiliates
III. Profits from investment
transfeered
IV. Revaluation of investments
V. Other
K. Financial costs 2034000.00 1471000.00
I. Interest payable including:
- to related companies
II. Loss from invetsments transffered
III. Revaluation of investments
IV. Other
L. Profit from economic activity (I+J-K) 9547000.00 3710000.00
M. Extraordinary items (M.I - M.II)
I. Extraordinary incomes
II.Extraordinary losses
N. Gross profit for the year (L+M)
9547000.00 3710000.00
O. Corporate income tax
P. Other obligatory charges
R. Net profit for the year (N-O-P)
7176000.00 2682000.00
Profit
and loss account (calc) 2002/12/31 2003/12/31
2002/01/01 2003/01/01
A. Net sales of goods and products:
42363000.00 73150000.00
- including to related companies
I. Net sales of products
II. Net sale of goods and materials
B. Operation expenses:
- including to related companies
I. Cost of production
II. Goods and materials at cost
C. Gross profit on sale(A-B)
D. Costs of sale
E. General administrative costs
F. Profit from sale (C-D-E)
1115000.00 7461000.00
G. Other operation incomes
1195000.00 818000.00
I. Profit from sale of tangible assets
II. Grants & subsidies
III. Other
H. Other operating costs
1846000.00 2176000.00
I. Loss from sale of tangible assets
II. Revaluation of non-financial
assets
III. Other operating costs
I. Profit from operating activity
(F+G-H)
464000.00 6103000.00
J. Financial income 240000.00 123000.00
I. Dividends
- from subisdiaries and affiliates
II. Interest receivable
-
from subisdiaries and affiliates
III. Profits from investment
transfeered
IV. Revaluation of investments
V. Other
K. Financial costs 4212000.00 5018000.00
I. Interest payable including:
- to related companies
II. Loss from invetsments transffered
III. Revaluation of investments
IV. Other
L. Profit from economic activity (I+J-K) -3508000.00 1208000.00
M. Extraordinary items (M.I - M.II)
I. Extraordinary incomes
II.Extraordinary losses
N. Gross profit for the year (L+M)
-3508000.00 1208000.00
O. Corporate income tax
P. Other obligatory charges
R. Net profit for the year (N-O-P)
-3508000.00 4544000.00
Profit
and loss account (calc) 2000/12/31 2001/12/31
2000/01/01 2001/01/01
A. Net sales of goods and products:
15534000.00 28335000.00
- including to related companies
I. Net sales of products
II. Net sale of goods and materials
B. Operation expenses:
- including to related companies
I. Cost of production
II. Goods and materials at cost
C. Gross profit on sale(A-B)
D. Costs of sale
E. General administrative costs
F. Profit from sale (C-D-E)
-10424000.00 -1592000.00
G. Other operation incomes
3296000.00 2223000.00
I. Profit from sale of tangible assets
II. Grants & subsidies
III. Other
H. Other operating costs
8968000.00 194000.00
I. Loss from sale of tangible assets
II. Revaluation of non-financial
assets
III. Other operating costs
I. Profit from operating activity
(F+G-H)
-16096000.00 438000.00
J. Financial income 509000.00 937000.00
I. Dividends
- from subisdiaries and affiliates
II. Interest receivable
- from subisdiaries and affiliates
III. Profits from investment
transfeered
IV. Revaluation of investments
V. Other
K. Financial costs 398000.00 1450000.00
I. Interest payable including:
- to related companies
II. Loss from invetsments transffered
III. Revaluation of investments
IV. Other
L. Profit from economic activity (I+J-K) -15985000.00 -75000.00
M. Extraordinary items (M.I - M.II)
I. Extraordinary incomes
II.Extraordinary losses
N. Gross profit for the year (L+M)
-15985000.00 -76000.00
O. Corporate income tax
P. Other obligatory charges
R. Net profit for the year (N-O-P)
-15985000.00 -76000.00
Profit
and loss account (calc) 1999/12/31
1999/01/01
A. Net sales of goods and products:
18621000.00
- including to related companies
I. Net sales of products
II. Net sale of goods and materials
B. Operation expenses:
- including to related companies
I. Cost of production
II. Goods and materials at cost
C. Gross profit on sale(A-B)
D. Costs of sale
E. General administrative costs
F. Profit from sale (C-D-E)
-3371000.00
G. Other operation incomes 387000.00
I. Profit from sale of tangible assets
II. Grants & subsidies
III. Other
H. Other operating costs
349000.00
I. Loss from sale of tangible assets
II. Revaluation of non-financial
assets
III. Other operating costs
I. Profit from operating activity
(F+G-H)
-3333000.00
J. Financial income
493000.00
I. Dividends
- from subisdiaries and affiliates
II. Interest receivable
- from subisdiaries and affiliates
III. Profits from investment
transfeered
IV. Revaluation of investments
V. Other
K. Financial costs
1490000.00
I. Interest payable including:
- to related companies
II. Loss from invetsments transffered
III. Revaluation of investments
IV. Other
L. Profit from economic activity (I+J-K) -4330000.00
M. Extraordinary items (M.I - M.II)
I. Extraordinary incomes
II.Extraordinary losses
N. Gross profit for the year (L+M)
-4330000.00
O. Corporate income tax
P. Other obligatory charges
R. Net profit for the year (N-O-P)
-4330000.00
Cash
flow statement 2007/12/31
2007/01/01
A. Operating cash flow
-12757600.00
I. Net profit 1377100.00
II. Adjustments -14134700.00
1. Depreciation 6356300.00
2. Loss on exchange rates difference 591700.00
3. Interests/dividends
receivable/payable
1911100.00
4. Loss on investment activities 789000.00
5. Change of reserves
12451200.00
6. Change in invesntories
-14806600.00
7. Change in accounts receivable -72703100.00
8.
Change in short-term liabilities 66737300.00
9. Change in prepaid items
-12700200.00
10. Other items .00
III.Net operating cash flow (I +/- II) -12757600.00
B.
Investment cash flow -9258600.00
I. Cash inflows from investment
activities
1280200.00
1. Sale of intangible assets 1280200.00
2. Sale of real-estate property and intang.
assets .00
3. Sale of financial assets
.00
a) in related companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows
.00
b) in other companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows
.00
4. Other investment inflows .00
II. Cash outflows from investment
activities 10538800.00
1. Acquired intangible and tangible fixed
assets 10538800.00
2. Investments in real-estate and
intangible assets .00
3. On financial assets
.00
a) assets in related companies .00
b) assets in other companies .00
- financial assets acquired .00
- long-term loans granted .00
4. Other investment outflows .00
III. Net cash from invetsment activities -9258600.00
C.
Financial cash flow -1760200.00
I. Inflows from financial activity 13449500.00
1. Net inflows from issuing shares, capital
instr. 13449500.00
2. Bank credits and loans
.00
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
15209700.00
1. Own shares acquired .00
2. Dividends and other payables to
owner .00
3. Payments, other than dividends,to
shareholders/owners 13449500.00
4. Bank credits and loan repaids 13451100.00
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable
.00
8. Interests 1758600.00
9. Other financial outflows .00
III. Net financial cash flow -1760200.00
D. Total net cash flow (A.III +/- B.III +/- C.III) -23776400.00
E. Change in cash. positions in balance 23768400.00
- including due to the foreign exchanges
difference 8000.00
F. Cash at the beginning of the year 27034800.00
G. Cash at the end of the year (F +/- D) 3258400.00
- including restricted cash 39600.00
Cash
flow statement 2006/12/31
2006/01/01
A. Operating cash flow
23730400.00
I. Net profit 1648600.00
II. Adjustments 22081800.00
1. Depreciation 5987000.00
2. Loss on exchange rates difference 1292000.00
3. Interests/dividends
receivable/payable
1382000.00
4. Loss on investment activities 100.00
5. Change of reserves
-3718500.00
6. Change in invesntories 2175100.00
7. Change in accounts receivable 25296600.00
8. Change in short-term liabilities -12510200.00
9. Change in prepaid items 4761900.00
10. Other items .00
III.Net operating cash flow (I +/- II) 23730400.00
B.
Investment cash flow -5484600.00
I. Cash inflows from investment
activities
900.00
1. Sale of intangible assets 900.00
2. Sale of real-estate property and intang.
assets .00
3. Sale of financial assets .00
a) in related companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows
.00
b) in other companies
.00
- financial assets transferred .00
- dividends and share in profits .00
- repayments of long-term loans
granted .00
- interests .00
- other inflows
.00
4. Other investment inflows .00
II. Cash outflows from investment
activities 5485500.00
1. Acquired intangible and tangible fixed
assets 5485500.00
2. Investments in real-estate and
intangible assets .00
3. On financial assets
.00
a) assets in related companies .00
b) assets in other companies .00
- financial assets acquired .00
- long-term loans granted .00
4. Other investment outflows .00
III. Net cash from invetsment activities -5484600.00
C.
Financial cash flow -1380500.00
I. Inflows from financial activity 1500.00
1. Net inflows from issuing shares, capital
instr. .00
2. Bank credits and loans
1500.00
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
1382000.00
1. Own shares acquired
.00
2. Dividends and other payables to
owner .00
3. Payments, other than dividends,to
shareholders/owners .00
4. Bank credits and loan repaids .00
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable
.00
8. Interests 1382000.00
9. Other financial outflows .00
III. Net financial cash flow -1380500.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 16865300.00
E. Change in cash. positions in balance 16832900.00
- including due to the foreign exchanges
difference 23400.00
F. Cash at the beginning of the year 10201900.00
G. Cash at the end of the year (F +/- D) 27067200.00
- including restricted cash 159500.00
Cash
flow statement 2005/12/31
2005/01/01
A. Operating cash flow 9869000.00
B.
Investment cash flow -2482000.00
C.
Financial cash flow -3097000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 4289000.00
Cash
flow statement 2004/12/31
2004/01/01
A. Operating cash flow
3943000.00
B.
Investment cash flow -2133000.00
C.
Financial cash flow 2090000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 3901000.00
Cash
flow statement 2003/12/31
2003/01/01
A. Operating cash flow
6499000.00
B.
Investment cash flow -10643000.00
C.
Financial cash flow 5992000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 1848000.00
Cash
flow statement 2002/12/31
2002/01/01
A. Operating cash flow
-9142000.00
B.
Investment cash flow -2346000.00
C.
Financial cash flow
8597000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) -2891000.00
Cash
flow statement 2001/12/31
2001/01/01
A. Operating cash flow
1089000.00
B.
Investment cash flow -6777000.00
C.
Financial cash flow 8185000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 2497000.00
Cash
flow statement 2000/12/31
2000/01/01
A. Operating cash flow
-5443000.00
B.
Investment cash flow -4867000.00
C.
Financial cash flow 10688000.00
D. Total net cash flow (A.III +/- B.III +/- C.III) 378000.00
INDEX ANALYSE
year 2005 2006 2007
CURRENT RATIO (CR)
Current Assets/Current liabilities 1.0259015 1.0544511 1.0057480
QUICK RATIO (QR)
Current Assets-Inventory/Current
liabilities 0.8255168 0.8500579 0.7917735
CASH RATIO (SQR)
Cash/Current liabilities 0.4379346 0.0254857
STOCK TURNOVER/DAY'S SUPPLY IN INVENTORY
Inventory/Turnover x 365 days 47.9488 52.1162 56.3641
CREDITORS DAYS/DAY'S SALES IN
RECEIVABLES
Current receivables/Turnover x 365 days 164.4592 105.0713 201.7068
DEBTORS DAYS/DAY'S PURCHASE IN PAYABLES
Current liabilities/Turnover x 365 days 239.284 254.980 263.415
TOTAL INDEBTNESS/DEBT RATIO
Outside capital/Equity capital x 100% 92.1% 89.5% 85.5%
LONG TERM INDEBTNESS I/LONG TERM DEBT RATIO
I
Longterm liabilities/Equity capital 1.74882 1.40891 0.00000
LONG TERM INDEBTNESS II/LONG TERM DEBT RATIO
II
Longterm liab./Equity cap.+Longterm liab. x
100% 63.6% 58.5% 0.0%
RETURN ON SALES (ROS)
Net profit/Turnover x 100% 2.4% 1.9% 0.8%
RETURN ON ASSETS (ROA)
Net profit/Total assets x 100% 2.5% 1.8% 0.8%
RETURN ON EQUITY (ROE)
Net profit/Equity capital x 100% 31.5% 16.2% 5.5%
LONG TERM LIABILITIES IN OUTSIDE CAPITAL
Longterm liabilities/Outside capital x
100% 0.1676852 0.1881330 0.0000000
WORKING CAPITAL
Current assets-Current liabilities 1912000.00 3361400.00 736700.00
WORKING CAPITAL RATIO
Current assets-Current liabilities/Turnover x
100% 1.7% 3.8% 0.4%
HISTORICAL DATA
Basic data validity period: 1999/06/18 - 2001/08/08
Legal form: LIMITED LIABILITY COMPANY
Registering agency COURT OF COMMERCE
Type : COMMERCIAL REGISTER
Number RHB 1429
Date of registration: 06/18/1999
Nominal capital validity period: 2001/08/08 - 2003/12/10
Value : 18000000.00 PLN
Number of shares:
180000
Nominal capital validity period: 2001/08/08 - 2007/12/06
Value : 18000000.00 PLN
Number of shares:
36000
Shares history validity period: 2001/08/08 - 2003/12/10
SHAREHOLDER:
MAAG GEAR AG
Identifier CEN0004388CZ
CH
Sulzer-Allee 48
P.O. Box
CH-8404 Winterthur
Switzerland
Tel. 41 (0) 52 262 88 88
Fax. 41 (0) 52 262 87 32
http:// www.maag-gear.com
E-mail: maag-gear@maag-gear.ch
Value : 18000000.00 PLN
Quant: 180000
Shares history validity period: 2001/08/08 - 2007/12/06
SHAREHOLDER:
MAAG GEAR AG
Identifier CEN0004388CZ
CH
Sulzer-Allee 48
P.O. Box
CH-8404 Winterthur
Switzerland
Tel. 41 (0) 52 262 88 88
Fax. 41 (0) 52 262 87 32
http:// www.maag-gear.com
E-mail: maag-gear@maag-gear.ch
Value : 18000000.00 PLN
Quant: 36000
Function history validity period: 2005/04/19 - 2008/04/10
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : HANSEN
Names : KAI
Function history validity period: 2004/03/04 - 2005/04/19
FUNCTION ACTING :
SUPERVISORY BOARD
Surname : DEEG
Names : THOMAS
Function history validity period: 2003/12/10 - 2007/03/21
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
FREIHOFER
Names : ALEX
Function history validity period: 2002/06/04 - 2003/12/10
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
GRICHTING
Names : REINHARD
Function history validity period: 2001/08/08 - 2003/12/10
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
KNUDSEN
Names : HANS
Function history validity period: 2001/08/08 - 2002/06/04
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
STEFFENSEN
Names :
CHRISTEN
Function history validity period: 2001/08/08 - 2004/03/04
FUNCTION ACTING :
SUPERVISORY BOARD
Surname :
SORENSEN
Names : HENRIK
PAYMENTS
No significant trade experience has been reported thus far
TRADE PARTNERS
Details not available
RELATED FIRMS
Note reported
PROCEDURES
Officially not available
ADDITIONAL INFORMATION
Any other information officially not available
BANK
Name: Bank Handlowy w Warszawie SA
Addr.: 40-086 Katowice, ul.Sokolska 29
Account num: 06 1030 1508 0000 0005 0198 0005
CUSTOMERS/SUPPLIERS
Officially not available
CONTACT WITH THE COMPANY
When directly contacted representative of the company
declined to present any additional data
EXCHANGE RATES
USD EUR
31.12.2007 2,4350 3,5820
29.12.2006 2,9105 3,8312
30.12.2005 3,2613 3,8598
31.12.2004 2,9904 4,0790
31.12.2003 3,7405 4,7170
31.12.2002 3,8388 4,0202
31.12.2001 3,9863 3,5219
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.67 |
|
UK Pound |
1 |
Rs.75.47 |
|
Euro |
1 |
Rs.61.19 |
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%)