MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LEK-AM SPÓLKA Z O.O. |
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Registered Office : |
Ostrzykowizna 14a 05-170 Zakroczym |
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Country : |
Poland |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Pharmaceutical Preparations |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
ADDRESS DATA
PRZEDSIĘBIORSTWO FARMACEUTYCZNE LEK-AM SPÓŁKA Z O.O.
OSTRZYKOWIZNA 14A
05-170 ZAKROCZYM
Tel. 022/7852069
Fax. 022/7852187
http:// www.lekam.pl
E-mail: biuro@lekam.pl
BASIC DATA
REGONCODE 016295922
VAT: 531-14-95-443
Nationwide Court Register KRS 0000089602
Legal form: LIMITED LIABILITY COMPANY
Status: ACTIVE
Start of activity: 2000/02/
Registering agency COURT OF COMMERCE, WARSAW
Type : NATIONAL COURT
REGISTER
Date of registration: 2002/02/08
NACE code 24.42
Manufacture of pharmaceutical preparations
NACE code 51.46
Wholesale of pharmaceutical goods
ORGANIZATIONAL-LEGAL DATA
Register capital:
Value : 100200.00
PLN
Number of shares: 1002
SHAREHOLDER:
Surname :
GRZYMAŁA
Names : JÓZEF
PESEL : 50030804893
Citizenship : Poland
Addr.:
Country code : Poland
Value : 33400.00 PLN
Quant: 334
SHAREHOLDER:
Surname :
WYRZYKOWSKI
Names : ANDRZEJ
SZCZEPAN
PESEL :
51122604391
Citizenship : Poland
Addr.:
Country code : Poland
Value : 33400.00 PLN
Quant: 334
MANAG.:
VICE-PRESIDENT OF THE BOARD
Surname :
GRZYMAŁA
Names : JÓZEF
PESEL :
50030804893
Citizenship : Poland
Addr.:
Country code : Poland
MANAG.:
PRESIDENT OF THE BOARD
Surname :
WYRZYKOWSKI
Names : ANDRZEJ
SZCZEPAN
PESEL :
51122604391
Citizenship : Poland
Addr.:
Country code : Poland
SHARES IN OTHER COMPANIES
No data
EMPLOYMENT
Total (MIN MAX) Productive(MIN
MAX) Unprod.(MIN MAX) DATE FROM DATE TO
20-20 - -
2006/01/01-2006/12/31
20-20 - - 2005/01/01-2005/12/31
REAL ESTATE
Real estate: GN GROUNDS
OWN: Area from to Value
-
519003.44 PLN
Real estate: BD BUILDINGS AND
CONSTRUCTIONS
OWN: Area from to Value
- 1432193.00 PLN
2006/12/31
SALES
2006/01/01 - 2006/12/31
86279063.60
2005/01/01 - 2005/12/31
45534406.54
FINANCIAL DATA
Balance
sheet as on 2005/12/31 2006/12/31
ASSETS
A. Total non-current assets:
13793390.35 19338118.20
I.Intangible assets:
2154185.52 3164568.34
1.Costs of development activities: 741919.72 1878343.89
2.Goodwill: 0.00 0.00
3.Other intangible fixed assets: 1412265.80 1286224.45
4.Prepayments for intangible assets: 0.00 0.00
II.Fixed assets: 11351653.83 15777453.86
1.tangible fixed assets:
10975005.75 11446104.52
a)land:
519003.44 541009.44
b)buildings: 1432193.00 1392767.36
c)machinery and equipment: 4588817.02 4682022.63
d)vehicles: 3401232.87 3959159.32
e)other tangible fixed assets:
1033759.42 871145.77
2.Investments in progress:
328035.28 3859218.35
3.Investments in progress paid on
accounts:
48612.80 472130.99
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: 287551.00 396096.00
1.Assets from deffered income tax: 287551.00 396096.00
2.Others:
0.00 0.00
B. Current assets: 17331362.70 26390924.64
I.Inventory
2835107.25 6550667.80
1.Materials: 1636915.53 3553086.70
2.Semi-products and work in
progress:
137921.34 47888.30
3.Finished goods:
997289.55 2949692.80
4.Products: 0.00 0.00
5.Advance payment for delivery:
62980.83 0.00
II.Accounts receivable:
8890974.75 11613924.91
1.From related companies:
0.00 0.00
a)trade receivables:
0.00 0.00
- within 12 months: 0.00 0.00
- more than 12 months:
0.00 0.00
b)others: 0.00 0.00
2.From other companies:
8890974.75 11613924.91
a)trade receivables:
6934098.53 8821265.85
- within 12 months:
6934098.53 8821265.85
- more than 12 months:
0.00 0.00
b)tax and social receivables:
1638888.46 2068248.09
c)other receivables:
317987.76 724410.97
d)accounts receiv. result. from
disputable claims:
0.00 0.00
III.Short-term investments:
223636.96 3043763.86
1.Short-term financial assets:
223636.96 3043763.86
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:
223636.96 3043763.86
- cash in hand and at bank:
188988.46 3043763.86
- other cash means:
34648.50 0.00
- other cash assets: 0.00 0.00
2.Other short-term investments:
0.00 0.00
IV.Short-term interperiod settlements: 5381643.74 5182568.07
Total assets
(A+B): 31124753.05 45729042.84
LIABILITIES
A. Net worth: 9401121.49 16467187.98
I.Issued capital:
100200.00 100200.00
II.Outstanding but unpaid contribution for
share: 0.00 0.00
III.Entity's own capital (negative): 0.00 0.00
IV.Reserve capital:
4938049.51 5926405.90
V.Revaluation reserve:
0.00 0.00
VI.Other reserve capitals:
0.00 0.00
VII.Profit/loss brutto forward:
3374515.59 3278097.59
VIII.Net financial result for the year: 988356.39 7162484.49
IX.Write-offs from net profit: |
0.00 0.00
B.Liabilities & reserves:
21723631.56 29261854.86
I.Reserve for liabilities:
56109.00 214287.00
1.Reserves for deffered income tax: 56109.00 88172.00
2.Reserves for retirement and
similar:
0.00 126115.00
- long-term:
0.00 126115.00
- short-term: 0.00 0.00
3.Other reserves:
0.00 0.00
- long-term:
0.00 0.00
- short-term:
0.00 0.00
II.Long-term liabilities:
3334208.14 5980457.01
1.To related companies: 0.00 0.00
2.To other companies:
3334208.14 5980457.01
a)credits and loans:
607706.20 3300578.17
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)other long-term liabilities: 2726501.94
2679878.84
III.Short-term liabilities:
18333314.42 23067110.85
1.To related companies:
0.00 0.00
a)trade payable:
0.00 0.00
- within 12 months:
0.00 0.00
- more than 12 months: 0.00 0.00
b)other:
0.00 0.00
2.To other companies:
18333314.42 23067110.85
a)bank loans: 1586621.27 9196444.63
b)commercial papers:
0.00 0.00
c)other financial liabilities:
0.00 0.00
d)trade payables:
10193914.39 8463212.58
- within 12 months:
10193914.39 8463212.58
- more than 12 months: 0.00 0.00
e)supplies paid on account:
0.00 0.00
f)notes payable:
0.00 0.00
g)tax & social securities:
1381388.16 526301.47
h)payroll payable:
841610.51 448062.40
i)other short-term liabilities: 4329780.09 4433089.77
3.Special funds:
0.00 0.00
IV.Accrued liabilities:
0.00 0.00
1.Negative goodwill: 0.00 0.00
2.Other:
0.00 0.00
- long-term: 0.00 0.00
- short-term:
0.00 0.00
Total liabilties (A+B):
31124753.05 45729042.84
Profit
and loss account (comp) 2005/12/31 2006/12/31
2005/01/01 2006/01/01
A. Net sales of goods and products: 45362100.41 85763576.20
- including to related companies 0.00 0.00
I.Net sales of products:
45038512.29 83926640.79
II.Change of products :
279231.17 1595200.84
III.Costs of production: 0.00 241734.57
IV.Net sale of goods and materials: 44356.95 0.00
B. Operation expenses: 43899718.85 74407191.90
I. Depreciation: 2444496.77 5092211.71
II. Costs of materials and energy: 8514677.50 12667042.63
III. Outside services: 19715826.61 32021097.10
IV.Taxes :
1783496.38 819067.27
- including excise taxes:
0.00 0.00
V.
Salaries: 9309895.70 19925997.81
VI. Social taxes & related:
1601843.44 3052577.53
VII. Other: 529482.45 829197.85
VIII. Goods and materials sold:
0.00 0.00
C. Profit (loss) on sale (A-B):
1462381.56 11356384.30
D. Other operation incomes: 118412.51 514656.63
I.Profit from sale of tangible assets: 0.00 73770.68
II.Grants & subsidies:
0.00 0.00
III.Other:
118412.51 440885.95
E. Other operating costs:
103378.14 1172047.23
I.Loss from sale of tangible assets: 0.00 0.00
II.Revaluation of non-financial assets: 0.00 0.00
III.Other:
103378.14 1172047.23
F. Profit from operating activity
(C+D-E):
1477415.93 10698993.70
G. Financial income:
53893.62 830.77
I. Dividends: 0.00 0.00
-
from subisdiaries and affiliates: 0.00 0.00
II.Interest receivable:
0.00 790.91
- 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: 53893.62 39.86
H. Financial costs: 252600.16 1602218.98
I.Interest payable including:
196706.37 1587573.61
-
to related companies: 0.00 0.00
II.Loss from invetsments transffered: 0.00 0.00
III.Revaluation of investments: 0.00 0.00
IV.Other:
55893.79 14645.37
I. Profit (loss) from economic activity
(F+G-H):
1278709.39 9097605.49
J. Extraordinary items (J.I-J.II):
0.00 0.00
I.Extraordinary incomes:
0.00 0.00
II.Extraordinary losses:
0.00 0.00
K. Gross profit for the year (I+/-J): 1278709.39 9097605.49
L. Corporate income tax:
290353.00 1935121.00
M. Other obligatory charges: 0.00 0.00
N. Net profit for the year (K-L-M): 988356.39 7162484.49
Cash
flow statement 2006/12/31
2006/01/01
A. Operating cash flow 0.00
I. Net profit 7162484.49
II. Adjustments -2703110.92
1. Depreciation 5092210.61
2. Profit on exchange rates difference .00
3. Interests/dividends
receivable/payable
1432047.40
4. Loss on investment activities 73770.68
5. Change of reserves 158178.00
6. Change in invesntories
-3715560.55
7. Change in accounts receivable -2722950.16
8. Change in short-term liabilities -2867378.21
9. Change in prepaid items
90530.67
10. Other items 96418.00
III.Net operating cash flow (I +/- II) 4459373.57
B.
Investment cash flow 0.00
I. Cash inflows from investment
activities
409633.66
1. Sale of intangible assets 409633.66
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 6886681.84
1. Acquired intangible and tangible fixed
assets 6463163.65
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 423518.19
III. Net cash from invetsment activities -6477048.18
C.
Financial cash flow 0.00
I. Inflows from financial activity 11091588.74
1. Net inflows from issuing shares, capital
instr. .00
2. Bank credits and loans
11091588.74
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
6253787.23
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 962744.19
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable
4032846.42
8. Interests 1258196.62
9. Other financial outflows .00
III. Net financial cash flow 4837801.51
D. Total net cash flow (A.III +/- B.III +/- C.III) 2820126.90
E. Change in cash. positions in balance 2820126.90
- including due to the foreign exchanges
difference .00
F. Cash at the beginning of the year 223636.96
G. Cash at the end of the year (F +/- D) 3043763.86
- including restricted cash .00
Cash
flow statement 2005/12/31
2005/01/01
A. Operating cash flow
0.00
I. Net profit 988356.39
II. Adjustments 1463051.25
1. Depreciation 2444496.77
2. Profit on exchange rates difference .00
3. Interests/dividends
receivable/payable 196593.92
4. Loss on investment activities 9078.02
5. Change of reserves
56109.00
6. Change in invesntories
-1362536.17
7. Change in accounts receivable 0.00
8. Change in short-term liabilities 8480781.81
9. Change in prepaid items
-5669194.74
10. Other items 2039658.73
III.Net operating cash flow (I +/- II) 2451407.64
B.
Investment cash flow 0.00
I. Cash inflows from investment
activities 12074.92
1. Sale of intangible assets 12074.92
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 1605457.39
1. Acquired intangible and tangible fixed
assets 1556844.59
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 48612.80
III. Net cash from invetsment activities -1593382.47
C.
Financial cash flow 0.00
I. Inflows from financial activity 943194.73
1. Net inflows from issuing shares, capital
instr. .00
2. Bank credits and loans 943194.73
3. Issue of debt securities .00
4. Other financial inflows
.00
II. Cash outflows from financial
activity
2423292.02
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 62590.54
5. Debt securities and loans repaid .00
6. Resulted from financial leasing .00
7. Interests payable 2188339.50
8. Interests 172361.98
9. Other financial outflows .00
III. Net financial cash flow -1480097.29
D. Total net cash flow (A.III +/- B.III +/- C.III) -622072.12
E. Change in cash. positions in balance 622072.12
- including due to the foreign exchanges
difference .00
F. Cash at the beginning of the year 845709.08
G. Cash at the end of the year (F +/- D) 223636.96
- including restricted cash .00
INDEX ANALYSE
year 2005 2006
CURRENT RATIO (CR)
Current Assets/Current liabilities 0.9453480 1.1440932
QUICK RATIO (QR)
Current Assets-Inventory/Current
liabilities
0.7907057 0.8601102
CASH RATIO (SQR)
Cash/Current liabilities
0.0121984 0.1319525
STOCK TURNOVER/DAY'S SUPPLY IN INVENTORY
Inventory/Turnover x 365 days
22.8123 27.8789
CREDITORS DAYS/DAY'S SALES IN
RECEIVABLES
Current receivables/Turnover x 365 days 71.5400 49.4275
DEBTORS DAYS/DAY'S PURCHASE IN PAYABLES
Current liabilities/Turnover x 365 days 147.517 98.171
TOTAL INDEBTNESS/DEBT RATIO
Outside capital/Equity capital x 100% 69.8% 64.0%
LONG TERM INDEBTNESS I/LONG TERM DEBT RATIO
I
Longterm liabilities/Equity capital 0.35466 0.36317
LONG TERM INDEBTNESS II/LONG TERM DEBT RATIO
II
Longterm liab./Equity cap.+Longterm liab. x
100% 26.2% 26.6%
RETURN ON SALES (ROS)
Net profit/Turnover x 100%
2.2% 8.4%
RETURN ON ASSETS (ROA)
Net profit/Total assets x 100% 3.2% 15.7%
RETURN ON EQUITY (ROE)
Net profit/Equity capital x 100% 10.5% 43.5%
LONG TERM LIABILITIES IN OUTSIDE CAPITAL
Longterm liabilities/Outside capital x
100%
0.1538805 0.2058849
WORKING CAPITAL
Current assets-Current liabilities - 1001951.72 3323813.79
WORKING CAPITAL RATIO
Current assets-Current liabilities/Turnover x
100% - 2.2%
3.9%
HISTORICAL DATA
Basic data validity period: 2000/02/10 - 2002/02/08
Legal form: LIMITED LIABILITY COMPANY
Registering agency COURT OF COMMERCE, WARSAW
Type : COMMERCIAL REGISTER
Number RHB 60028
Date of registration: 02/10/2000
Nominal capital validity period: 2002/02/08 - 2004/02/13
Value : 6000.00 PLN
Number of shares:
60
Shares history validity period: 2004/02/13 - 2008/07/23
SHAREHOLDER:
Surname :
CZARNOWSKI
Names :
MIROSŁAW
PESEL :
34122200712
Citizenship : Poland
Addr.:
Country code : Poland
Value : 33400.00 PLN
Quant: 334
Shares history validity period: 2002/02/08 - 2004/02/13
SHAREHOLDER:
Surname :
CZARNOWSKI
Names :
MIROSŁAW
PESEL :
34122200712
Citizenship : Poland
Addr.:
Country code : Poland
Value : 2000.00 PLN
Quant: 20
Shares history validity period: 2002/02/08 - 2004/02/13
SHAREHOLDER:
Surname :
GRZYMAŁA
Names : JÓZEF
PESEL :
50030804893
Citizenship : Poland
Addr.:
Country code : Poland
Value : 2000.00 PLN
Quant: 20
Shares history validity period: 2002/02/08 - 2004/02/13
SHAREHOLDER:
Surname : WYRZYKOWSKI
Names : ANDRZEJ
SZCZEPAN
PESEL :
51122604391
Citizenship : Poland
Addr.:
Country code : Poland
Value : 2000.00 PLN
Quant: 20
Function history validity period: 2002/02/08 - 2008/07/23
FUNCTION ACTING :
BOARD
VICE-PRESIDENT OF THE BOARD
Surname :
CZARNOWSKI
Names :
MIROSŁAW
PESEL :
34122200712
Citizenship : Poland
Addr.:
Country code : Poland
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
BRANCHE:
00-261 Warszawa
ul. Podwale 23
Tel./Fax : (022) 635 80 41
BANK
Officially not available
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.44.21 |
|
UK Pound |
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.64.72 |
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%)