MIRA INFORM REPORT

 

 

 

Report Date :

24.09.2008

 

IDENTIFICATION DETAILS

 

Name :

FAB, S.R.O.

 

 

Formerly Known as :

FAB LOCKING SYSTEMS

 

 

Registered Office :

Strojnicka 633 516 01 Rychnov Nad Kneznou

 

 

Country :

Czech Republic

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

2004

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Locks and Hinges

 

 

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 1.000.000,00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 


 

 

 

 

 

name of the company

 

 

 

FAB, S.R.O.
Aliases: FACEA



Principal Address

 

Strojnická 633
516 01 Rychnov nad Kněžnou
Czech Republic
Tel: +420-494 511 111
Fax: +420-494 511 102
Email: fab.rk@fab.cz
Internet: www.fab.cz

Registered office:
Strojnická 633
516 01 Rychnov nad Kněžnou
Czech Republic

Branch:
Na Zlatnici 8
147 00 Praha 4
Sales&Marketing Unit
Czech Republic
Tel: +420-241 434 200
Fax: +420-241 431 466
Email: praha@fab.cz

Branch production:
Dlouhá Ves 129
51601 Rychnov nad Kněžnou
FACEA
Czech Republic
Tel: +420-494 539 311
Fax: +420-494 534 240
Email: facea@fab.cz
Internet: www.facea.eu

 

 

Former company names


FAB Locking Systems, s.r.o., valid since 29.11.2004 valid until 01.09.2005
FAB, s.r.o., valid since 01.09.2005

 

 

 

ICON number

 

60623400

 

National ID

 

27465454
VAT number: CZ27465454

 

 

 

Registration status: 29.11.2004 - registered company
Activity status: 29.11.2004 - 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 1.000.000,00

 

 

 

 

Payment Practices:

Payments are made according to terms

 

 

Further Rating Information:

Researched company is categorized as a big company.
Turnover volume of CZK 1.451.752.000 in the year 2007 increased by 24,87% compared with 2006. In the previous period this change was 25,50%.
Fixed assets increased by CZK 197.453.000 and are 44,56% of total assets.

Cash flow from results of CZK 49.895.000 decreased by 41,13% compared with last year result.

 

 

Debt Collection:

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

 

 

 

COMPANY DETAILS

 

 

 

Established:

2004

 

 

Registration:

No. C 20609
29.11.2004
Hradec Králové, Czech Republic

 

 

Legal Form:

29.11.2004
Limited Liability Company

 

 

History:

The company FAB, s.r.o. /former FAB Locking Systems, s.r.o./ (ID: 274 65 454) is a legal successor of the cancelled company FAB a.s. ID: 455 34 578.
/01.09.2005/

5.1.2007 - the company SEKO TOOL, s.r.o.,ID 275 05 545 bought the part of the company /tool factory/ of the firm FAB, s.r.o.

01.09.2008 - the firm Abloy Czech spol. s.r.o. ID: 485 35 613 took over part of assets of the firm FAB, s.r.o.

 

 

Capital:

CZK 200.000,00

 

 

Shareholders:

Full Name

Function

Address

Equity capital

Assa Abloy East Europe AB
Registration: Sweden

Partner
29.11.2004 - Present

BOX 70340
107 23 Stockholm
Sweden

CZK 200.000,00

 

 

Management:

Full Name

Function

Address

ADAMI Roman
12.09.2005 - Present

Managing director

Hoděšovice 128
Holicce
Czech Republic

Ing. BAYER Vladimír
29.11.2004 - Present

Managing director

Boženy Němcové 628
Rychnov nad Kněžnou
Czech Republic

 

 

Related Companies:

other relationship
Abloy Czech spol. s r.o. , Czech Republic , National ID: 48535613

Previous company
FAB a.s. , Czech Republic , National ID: 45534578

other relationship
SEKO TOOL, s.r.o. , Czech Republic , National ID: 27505545

 

 

 

KEY DATA ON OPERATIONS

 

 

 

Subject of Operation:

NACE
  main activity:
  2572 Manufacture of locks and hinges

  2561 Treatment and coating of metals
  2573 Manufacture of tools
  2599 Manufacture of other fabricated metal products n.e.c.
  4690 Non-specialised wholesale trade
  6820 Renting and operating of own or leased real estate
  7210 Research and experimental development on natural sciences and engineering
  7220 Research and experimental development on social sciences and humanities

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

 

 

Turnover:

2007

2006

2005

2004

CZK 1.451.752.000,00

CZK 1.162.628.000,00

CZK 926.407.000,00

CZK 855.556.000,00

 

 

Workforce:

 

2008

2007

2006

2005

Total workforce

800

800

800

750

 

 

Imports:

European Union

 

 

Exports:

 

European Union

 

 

Branches:

Branch:
Na Zlatnici 8
147 00 Praha 4
Sales&Marketing Unit
Czech Republic
Tel: +420-241 434 200
Fax: +420-241 431 466
Email: praha@fab.cz

 

 

Real Estate:

built upon
Address:
Dlouhá Ves 129
51601 Rychnov nad Kněžnou
FACEA
Czech Republic


built upon
Address:
Strojnická 633
516 01 Rychnov nad Kněžnou
Czech Republic

 

 

 

FINANCIAL INFORMATION

 

 

 

Financials:

Amounts shown in Czech Koruna (CZK)  

2007

2006

2005

2004

 



Assets

 

TOTAL ASSETS

994.409.000,00

679.741.000,00

597.865.000,00

1.311.652.000,00

 

Fixed assets

443.096.000,00

245.643.000,00

224.216.000,00

258.295.000,00

 

Intangible fixed assets

2.836.000,00

2.549.000,00

2.629.000,00

1.119.000,00

 

Tangible fixed assets

440.260.000,00

217.811.000,00

194.316.000,00

220.211.000,00

 

Non-current financial assets

 

25.283.000,00

27.271.000,00

36.965.000,00

 

Current assets

544.504.000,00

432.580.000,00

372.113.000,00

1.051.545.000,00

 

Inventories

284.893.000,00

171.543.000,00

136.734.000,00

115.416.000,00

 

Long-term receivables

 

1.417.000,00

5.372.000,00

6.115.000,00

 

Short-term receivables

245.782.000,00

214.472.000,00

213.210.000,00

925.360.000,00

 

from that : Trade receivables

180.896.000,00

161.830.000,00

104.115.000,00

81.381.000,00

 

Liquid assets

13.829.000,00

45.148.000,00

16.797.000,00

4.654.000,00

 

Other assets

6.809.000,00

1.518.000,00

1.536.000,00

1.812.000,00

 



Equity & Liabilities

 

TOTAL LIABILITIES

994.409.000,00

679.741.000,00

597.865.000,00

1.311.652.000,00

 

Equity

343.579.000,00

526.948.000,00

429.897.000,00

1.131.897.000,00

 

Share capital

200.000,00

200.000,00

200.000,00

146.347.000,00

 

Capital funds

12.252.000,00

26.455.000,00

26.955.000,00

28.588.000,00

 

Statutory funds

250.292.000,00

304.581.000,00

304.571.000,00

207.579.000,00

 

Retained earnings

1.000,00

78.161.000,00

-1.000,00

670.365.000,00

 

Profit or loss for the current period

80.834.000,00

117.551.000,00

98.172.000,00

79.018.000,00

 

Liabilities

633.676.000,00

140.034.000,00

160.363.000,00

175.565.000,00

 

Reserves

12.804.000,00

9.490.000,00

58.697.000,00

79.832.000,00

 

Long-term liabilities

15.614.000,00

12.240.000,00

15.705.000,00

14.216.000,00

 

Short-term liabilities

605.258.000,00

117.854.000,00

85.961.000,00

81.269.000,00

 

from that : Trade payables

135.783.000,00

 

 

 

 

Bank loans and borrowings

 

450.000,00

 

248.000,00

 

Short-term bank credits and loans

 

450.000,00

 

248.000,00

 

Other liabilities

17.154.000,00

12.759.000,00

7.605.000,00

4.190.000,00

 

BALANCE SHEET TOTAL

994.409.000,00

679.741.000,00

597.865.000,00

1.311.652.000,00

 



Profit & Loss Account

 

Turnover

1.451.752.000,00

1.162.628.000,00

926.407.000,00

855.556.000,00

 

Change in internally produced inventory

29.775.000,00

23.686.000,00

11.134.000,00

-2.097.000,00

 

Own work capitalized

4.258.000,00

40.763.000,00

35.693.000,00

33.276.000,00

 

Other operating revenues

25.267.000,00

14.647.000,00

9.829.000,00

8.972.000,00

 

Total operating income

1.511.052.000,00

1.241.724.000,00

983.063.000,00

895.707.000,00

 

Costs of sold goods

83.538.000,00

88.854.000,00

70.951.000,00

79.415.000,00

 

Purchased consumables and services

937.751.000,00

677.806.000,00

508.502.000,00

424.720.000,00

 

Staff costs

322.367.000,00

282.188.000,00

242.814.000,00

231.677.000,00

 

Taxes and charges

673.000,00

459.000,00

728.000,00

359.000,00

 

Depreciations of intangible and tangible assets

30.939.000,00

32.800.000,00

37.819.000,00

47.294.000,00

 

Other operating expenses

19.099.000,00

621.000,00

-10.863.000,00

2.122.000,00

 

Total operating expenses

1.394.367.000,00

1.082.728.000,00

849.951.000,00

785.587.000,00

 

OPERATING PROFIT / LOSS

116.685.000,00

158.996.000,00

133.112.000,00

110.120.000,00

 

Financial income

12.531.000,00

7.577.000,00

16.139.000,00

18.632.000,00

 

Financial expenses

17.099.000,00

9.282.000,00

11.614.000,00

11.943.000,00

 

there of : Interest expenses

7.536.000,00

25.000,00

95.000,00

36.000,00

 

Extraordinary income

 

2.810.000,00

 

 

 

Extraordinary expenses

5.856.000,00

307.000,00

1.861.000,00

 

 

PROFIT/LOSS BEFORE TAX

106.261.000,00

159.794.000,00

135.776.000,00

116.809.000,00

 

Corporation income tax

25.427.000,00

42.243.000,00

37.604.000,00

37.791.000,00

 

PROFIT OR LOSS FOR THE CURRENT PERIOD

80.834.000,00

117.551.000,00

98.172.000,00

79.018.000,00



Partial Financials:

Amounts shown in Czech Koruna (CZK)  

2008

 



Equity & Liabilities

 

Share capital

200.000,00



The company is obliged by law to publish its financial statements.
The balance sheet data are from official sources.

 

 

Financial data source:


Auditor: Ing. Lenka Hejduková č. osv. 1978
Date: 30.04.2008
Financials have been audited
Company: PricewaterhouseCoopers Audit, s.r.o.

Clean opinion

 

 

Bankers:

Komerční banka, a.s.
Rychnov nad Kněžnou

 


 

 

Ratios:

 

2007

2006

2005

2004

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

0,90

3,66

4,33

12,90

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

0,43

2,19

2,68

11,41

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

0,02

0,38

0,20

0,06

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

8,13

17,29

16,42

6,02

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

23,53

22,31

22,84

6,98

Return on sales ( ROS )
Net profit / Turnover

5,57

10,11

10,60

9,24

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

61,79

67,33

84,00

394,78

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

152,17

37,00

33,87

34,67

Debt Ratio
(Liabilities / Total Liabilities) * 100

63,72

20,60

26,82

13,39

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

101,82

81,67

86,13

83,56

Net working capital
Current assets - Short term liabilities

CZK -60.754.000,00

CZK 314.726.000,00

CZK 286.152.000,00

CZK 970.276.000,00




Average values of ratios of enterprises with 100 or more employees in the sector of manufacture of basic metals and fabricated metal products are following:

Liquidity Ratio - 3.stage: 1,5
Liquidity Ratio - 2.stage: 1,0
Liquidity Ratio - 1.stage: 0,2
ROA: 3,0 %
ROE: 8,0 %
Receivables Maturity Date: 80 days
Liabilities Maturity Date: 80 days
Debt Ratio: 55 %

 

 

ADDITIONAL INFORMATION

 

 

 

Contact With Company:

Name and surname: Mrs. Dostálová
Function: assistant
Information given in report has been confirmed.
Information given in report comes from external sources.

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.45.83

UK Pound

1

Rs.84.90

Euro

1

Rs.67.26

 

 

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