MIRA INFORM REPORT
|
Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRO JET SA |
|
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Registered Office : |
Carretera Nacional 152 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
31.12.1986 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer of machinery for textile apparel &
leather goods |
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 : |
447.000,00 € |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company summary
ELECTRO JET SA
TAX NUMBER: A58289141
EXECUTIVE SUMMARY
Identification
Current Business Name: ELECTRO JET SA
Other names: YES
Current Address: CARRETERA NACIONAL 152 BARCELONA
A PUIGCERDA (KM 1,5), EDIF. EL TINT
Telephone number: 938816341 Fax: 938892572
URL: www.electro-jet.com
Corporate e-mail: comercial.jet@electro-jet.com
Trade Risk
Credit Appraisal: 447.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 6.319.001,76 €
(Trade Register)
Result: 48.199,22 €
Total Assets: 11.224.874,96 €
Social Capital: 120.200,00 €
Employees: 36
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 31/12/1986
Activity: Mfg. of machinery for textile apparel
& leather goods
NACE 2009 CODE: 2894
International Operations: Imports and
Exports
Corporate Structure
Administrator:
Other Complementary Information
Latest act published in BORME: 18/11/2010 Companies transfer
Latest press article: 17/11/2010 AVUI (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 31/03/2011.
The information contained in this report has been investigated and
contrasted on 01/07/2010
TRADE RISK
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 447.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Very low |
|
Profitability |
Null |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Excellent |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY:
1 Company / Companies in Insolvency Proceedings.
BANK AND BUSINESS DEFAULTS OF
PAYMENT - ASNEZ INDUSTRIAL
FINANCIAL ELEMENTS
AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
The shaded amounts in the following financial statements have been converted to the norms established in the PGC2007 derived from RD 1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises initiated from 1/01/08.
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
5.724.819,79 |
51,00 |
6.831.177,42 |
56,06 |
6.876.129,76 |
51,89 |
|
B) CURRENT ASSETS |
5.500.055,17 |
49,00 |
5.354.245,23 |
43,94 |
6.374.514,41 |
48,11 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
8.961.547,80 |
79,84 |
8.922.737,56 |
73,22 |
8.577.086,68 |
64,73 |
|
B) NON CURRENT LIABILITIES |
266.472,97 |
2,37 |
348.612,60 |
2,86 |
460.455,84 |
3,47 |
|
C) CURRENT LIABILITIES |
1.996.854,19 |
17,79 |
2.914.072,49 |
23,91 |
4.213.101,65 |
31,80 |
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|
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|
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Balance Sheet
Comments
Total assets of the company decreased in 7,88%
between 2.008 and 2.009.
This decrease has been greater in non current assets that reduced
in 16,20%.
Assets reduction contrasts with net worth growth
of 0,43%. Therefore, the company’s indebtedness has reduced
in 30,63%.
Total assets of the company decreased in 8,04%
between 2.007 and 2.008.
This total assets decrease has been reflected in a reduction of non
current assets of 0,65%.
Assets reduction contrasts with net worth growth
of 4,03%. Therefore, the company’s indebtedness has reduced
in 30,19%.
Profit and Loss
Account Analysis
Figures given in €
|
|
31/12/2009 (12) |
% NET TURNOVER |
31/12/2008 (12) |
% NET TURNOVER |
31/12/2007 (12) |
% NET TURNOVER |
|
SALES |
6.319.001,76 |
|
8.911.739,69 |
|
14.974.209,08 |
|
|
GROSS MARGIN |
3.254.669,78 |
51,51 |
3.730.664,59 |
41,86 |
4.769.013,90 |
31,85 |
|
EBITDA |
580.250,08 |
9,18 |
663.949,66 |
7,45 |
984.390,52 |
6,57 |
|
EBIT |
112.861,19 |
1,79 |
170.820,39 |
1,92 |
287.079,91 |
1,92 |
|
NET RESULT |
48.199,22 |
0,76 |
167.758,10 |
1,88 |
197.495,84 |
1,32 |
|
EFFECTIVE TAX RATE (%) |
26,95 |
0,00 |
-37,13 |
0,00 |
19,82 |
0,00 |
Profit and Loss
Account Comments
The company’s sales figure decreased
in 29,09% between 2.008 and 2.009.
The company’s EBIT decreased
in 33,93% between 2.008 and 2.009.
This evolution implies a reduction in the economic profitability of the
company .
The result of these variations is a decrease of the company’s Operating
Profitability of 2,50% in the analysed period, being this
profitability of 5,06% in the year 2.009.
The Net Result of the company decreased
in 71,27% between 2.008 and 2.009.
The company’s Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 45,99% in the analysed period, being equal
to 0,74% in the year 2.009 .
The company’s sales figure decreased
in 40,49% between 2.007 and 2.008.
The company’s EBIT decreased
in 40,50% between 2.007 and 2.008.
This evolution implies a reduction in the economic profitability of the
company .
The result of these variations is a decrease of the company’s Operating
Profitability of 8,79% in the analysed period, being this
profitability of 5,19% in the year 2.008.
The Net Result of the company decreased
in 15,06% between 2.007 and 2.008.
The company’s Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 52,26% in the analysed period, being equal to 1,37% in
the year 2.008 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|
|
|
|
A) NON CURRENT ASSETS |
51,00 |
32,78 |
18,22 |
|
A) CURRENT ASSETS |
49,00 |
67,22 |
-18,22 |
|
LIABILITIES |
|
|
|
|
A) NET WORTH |
79,84 |
56,19 |
23,65 |
|
B) NON CURRENT LIABILITIES |
2,37 |
4,33 |
-1,95 |
|
C) CURRENT LIABILITIES |
17,79 |
39,48 |
-21,69 |
|
|
|
|
|
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
95,61 |
95,48 |
0,13 |
|
GROSS MARGIN |
49,24 |
44,32 |
4,92 |
|
EBITDA |
8,78 |
7,64 |
1,14 |
|
EBIT |
1,71 |
4,14 |
-2,43 |
|
NET RESULT |
0,73 |
2,44 |
-1,71 |
Sector Composition
Compared sector (NACE 2009): 2894
Number of companies: 11
Size (Sales Figure): 2,800,000.00 - 7,000,000.00 Euros
Comments on the sectorial
comparative
Compared to its sector the assets of the companies show a greater
proportion of non current assets. Specifically the difference with the sector
average is 18,22% .
In liabilities composition the company appeals on a wider scale to self
financing, being the proportion of Net Worth of 23,65% major. As a
consequence, external financing sources are less used by the company
( 23,65% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 95,61% , an 0,13% higher than in the sector .
The company’s EBIT was positive and was 1,71% with regard to
the total ordinary income, 2,43% inferior to the one of the sector .
The company’s capacity to generate operating income is inferior to that
of the sector as its ratio EBIT/Sales is inferior (0,02 in comparison
with 0,04) .
The company’s net result was positive and equal to 0,73% with
regard to the total ordinary income, -1,71% inferior to the one of
the sector .
The financial results and the tax impact have had a less negative impact
on the net result of the company that in the sector .
OTHER DATA FROM THE ANNUAL
FINANCIAL REPORT
Results
Distribution
Source: annual financial report 2009
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
48.199,22 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
48.199,22 |
|
Total of Amounts to be distributed |
48.199,22 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
48.199,22 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: PACCIOLI AUDITORS S.L.
Auditing fees: 6.490,00 €
Facts subsequent
to the closing
Source: Annual financial report 2009
Posterior to the closure there were no relevant facts that require the
inclusion in the annual accounts.
COMPANY ADDRESS
Current Legal Seat Address:
CARRETERA NACIONAL 152
08503 GURB
Previous Seat Address:
CARRETERA NACIONAL 152
08503 GURB
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Main Board
members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
ADMINISTRATOR |
ROVIRA TRIAS JOAN |
14/03/2007 |
|
|
ADMINISTRATOR |
ROVIRA CAMPDELACREU MIREIA |
14/03/2007 |
|
|
ADMINISTRATOR |
ROVIRA LATORRE ESTHER |
14/03/2007 |
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AUDITOR |
APPOINTMENT DATE |
||
|
PACCIOLI AUDITORS SL |
17/02/2009 |
||
There are 4 board members, directors and auditors registered
Board members remuneration
Source: Annual financial report 2009
Board members remuneration: 101.233,91 €
Functional
Managers
|
POSITION |
NAME AND SURNAME |
|
Manager |
ROVIRA TRIAS JOAN |
|
Financial Director |
GENERO FONT RAMON |
|
Human Resources Director |
CABANAS MIGUEL |
|
Commercial Director |
ROVIRA CAMPDELACREU MIREIA |
|
Exports Director |
ROVIRA CAMPDELACREU MIREIA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
ROVIRA CAMPDELACREU MIREIA |
|
50,00 |
TRADE REG. |
31/12/2009 |
|
|
ROVIRA TRIAS JUAN |
|
45,00 |
TRADE REG. |
31/12/2009 |
|
|
ROVIRA LATORRE ESTER |
|
5,00 |
TRADE REG. |
31/12/2009 |
There are 3 direct financial links through shareholders
registered
CREDIT INFORMATION
Incorporation date: 31/12/1986
Establishment date: 01/01/1986
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity: Mfg. of machinery for textile apparel & leather
goods
NACE 2009 CODE: 2894
NACE 2009 Activity: Manufacture of machinery for textile,
apparel and leather production
Business: FABRICACION Y COMERCIALIZACION DE MAQUINARIA PARA
INDUSTRIA TEXTIL, ASI COMO LA DE TODOS LOS PRODUCTOS Y ARTICULOS AFINES Y
DERIVADOS DE LOS MISMOS Y SUS MATERIAS PRIMAS.
Environmental information: YES (Page 56) Annual
financial report 2009
Latest employees figure: 36 (2010)
% of fixed employees: 97,22%
% of temporary employees: 2,78%
% of men: 84,62%
% of women: 15,38%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
22 |
4 |
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 11%
Imports from: UE Y RESTO
National Distribution: 89%
SALES
Export Percentage: 80%
Exports to: RESTO DEL MUNDO
National Distribution: 10%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
MECANICAS PRO-PIEL, S.L |
NO |
|
ING. DE CONST. ROVIRA, S.L. |
NO |
|
ELECTROJET INDUSTRIAL, S.A. |
NO |
|
TRANSTEX, S.L. |
NO |
|
DI.CO.MO.EL., S.L. |
NO |
There are 5 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
TRANSTEX SL |
NO |
There are 1 Clients
Sales breakdown
•
El 3,01% de su cifra de negocio corresponde a
otros.
•
El 14,39% de su cifra de negocio corresponde a
recambios y varios.
•
El 3,35% de su cifra de negocio corresponde a
montajes y mantenimientos.
•
El 23,18% de su cifra de negocio corresponde a
mecánica de embalajes y logística.
•
El 55,83% de su cifra de negocio corresponde a
limpiadores.
•
El 0,24% de su cifra de negocio corresponde a
energía eléctrica.
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
MANLLEU |
|
|
BANCO DE SABADELL, S.A. |
0075 |
C ENRIC DELARIS 000002 |
MANLLEU |
|
|
BANCO POPULAR |
|
|
MANLLEU |
|
|
BARCLAYS BANK, S.A. |
|
|
|
|
|
DEUTSCHE BANK, S.A.E. |
|
|
|
|
There are 5 bank entities registered
Summary of bank operations
Discount facilities: 1
Credit policy: 3
Mortgage loan: 0
Loans with no real security: 0
Bank operations
|
Entity:CAIXA E. UNIO CAIXES MANLLEU, Debt type: Discount
facilities |
Granted limit:120.200,00 € Used limit:0,00 € Available limit:120.200,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Entity:BARCLAYS BANK, S.A. Debt type: Credit policy |
Granted limit:200.000,00 € Used limit:0,00 € Available limit:200.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Entity:DEUTSCHE BANK, S.A.E. Debt type: Credit policy |
Granted limit:400.000,00 € Used limit:0,00 € Available limit:400.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Entity:BANCO POPULAR Debt type: Credit policy |
Granted limit:1.500.000,00 € Used limit:0,00 € Available limit:1.500.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
There are 4 bank operations registered
Leasing
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
|
|
centro de Tornejat Mazak |
40.323,49 |
3.607,68 |
There are 1 leasing operations registered
Grants
|
Body-entity: DARP Grant type: Projects
development or business enlargement or improvement |
Nominal amount: 5.109,70 € Source: Filed
Accounts (2009) |
|
Operation description: explotaciones agrícolas |
|
|
|
|
|
Body-entity: COPCA Grant type: Projects
development or business enlargement or improvement |
Nominal amount: 4.859,15 € Source: Filed
Accounts (2009) |
|
Operation description: viajes prospección mercados nuevos |
|
|
|
|
|
Body-entity: ICEX Grant type:
International development |
Nominal amount: 172.382,76 € Source: Filed Accounts (2009) |
|
Operation description: asistencia a ferias internacionales |
|
|
|
|
Brands
Brand name:
Type: JOINT Scope: NATIONAL Date: 28/01/2003
Brand name:
Type: GRAPHICAL Scope: COMMUNITARY
Date: 21/01/2003
There are 2 brands, signs and commercial names
LEGAL STRUCTURE
Constitution
Data
Register Date: 31/12/1986
Legal form: Joint-stock Company
Social Capital: 120.200,00 €
Paid-up capital: 120.200,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES
REGISTRY GAZETTE)
Acts on activity: 0
Acts on administrators: 16 (Last: 17/02/2009, first:
22/04/1991)
Acts on capital: 0
Acts on creation: 0
Acts on filed accounts: 21 (Last: 04/11/2010, first:
26/12/1990)
Acts on identification: 1 (Last: 27/02/2001)
Acts on Information: 2 (Last: 14/08/1996, first:
26/03/1991)
Acts on proceedings: 1 (Last: 18/11/2010)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Companies transfer |
18/11/2010 |
34209 |
|
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
17/02/2009 |
84234 |
|
|
Appointments |
24/04/2008 |
213273 |
|
|
Appointments |
14/03/2007 |
152588 |
|
|
Appointments |
03/03/2005 |
98568 |
|
|
Resignations |
08/08/2003 |
314152 |
|
|
Appointments |
11/04/2002 |
163815 |
|
|
Appointments |
11/04/2002 |
163813 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
04/11/2010 |
975812 |
|
|
Annual Filed Accounts (2008) |
24/11/2009 |
929497 |
|
|
Annual Filed Accounts (2007) |
26/11/2008 |
1123404 |
|
There are 41 acts registered
PRESS ARTICLES
Press
summary by type of information (last five years)
Legal notices: 1 (Last: 17/11/2010)
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 27/11/2000)
Latest press
article published
17/11/2010 AVUI (Page 44) LEGAL
ANNOUNCEMENTS
La Junta General de Socios de DISEÑO CONSTRUCCIONES Y MONTAJES
ELECTROMECÁNICOS, S.L. (Sdad. Cedente), celebrada el 01/11/10, aprobó la cesión
global de todos sus activos y pasivos a favor
There are 2 press articles registered for this company
Complementary
Information
Financial Information
El balance cerrado a 31/12/2009 (Deposito 2009) esta disponible en
INFORMA, pero existen datos en los nuevos estados contables incorrectamente
presentados.
El balance cerrado a 31/12/2008 (Deposito 2008) esta disponible en
INFORMA, pero existen datos en los nuevos estados contables incorrectamente
presentados.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.72.25 |
|
Euro |
1 |
Rs.63.09 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.