MIRA
INFORM REPORT
|
Report Date : |
10.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
enertron sl |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
12.11.1979 |
|
|
|
|
Legal Form : |
Sole-partnered Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
310.000,00 € |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
ENERTRON SL
TAX NUMBER: B28600666
Company situation: Active
Identification
Current Business Name: ENERTRON SL
Commercial name: ENERTRON S.A.
Other names: YES
Current Address: AVENIDA DE FUENTEMAR (PG IND CTM
), 5
Branches: 1
Telephone number: 916710330 Fax: 916710322
URL: www.enertron.net
Corporate e-mail: info@enertron.net
Trade Risk
Credit Appraisal: 310.000,00 €
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2009): 20.342.557,00 € (Commercial Registry)
Result: -894.513 €
Total Assets: 33.433.639 €
Share capital: 300.500,00 €
Employees: 100
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 12/11/1979
Activity: Mfg. of electric measurement &
control appliances
NACE 2009 CODE: 2712
International Operations: It does not import nor export
Corporate Structure
Sole Administrator:
Parent Company:
Other Complementary Information
Latest filed accounts published in the Commercial Registry: 2009
Type of Accounts available at the Commercial Registry: Individuals
Latest act published in BORME: 16/11/2011 Appointments
Latest press article: 06/10/2009 CINCO
DIAS (SHAREHOLDERS AND HOLDINGS)
Bank Entities: There are
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 310.000,00 €
Financial Situation
|
Exercise:2009 |
|
||
|
Treasury |
Tense |
|
|
|
Indebtedness |
Important |
|
|
|
Profitability |
Unfavourable |
|
|
|
Balance |
Degraded |
|
|
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Acceptable |
Summary
LEGAL ACTIONS: No legal
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
Summary
COMPANY NOT INCLUDED IN EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI -
SECTORIAL DEFAULTS OF PAYMENT
•
There is no information related to the nif/cif
consulted in the in the EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL
DEFAULTS OF PAYMENT file
This information comes from Experian Bureau Empresarial Service,
property of Experian Bureau de Crédito S.A. It could just be used for
businessmen or professionals and for the own aims of the business, and could
not be transferred or transmitted to third parties, copied, duplicate or
reproduce, nor incorporate to any owned or external database, or reuse it in
any direct or indirect way. Experian Bureau de Crédito S.A. may file you for
damages it may suffer in case of breaching any of the afore mentioned
obligations. Experian would not be responsible of the lack of accuracy in the
supplied information when it coincides with the one supplied by the creditor
entities.
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
02/12/2011 08:12:59
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
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) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
10.646.651,00 |
31,84 |
11.896.906,00 |
42,35 |
8.277.245,00 |
39,13 |
|
B) CURRENT ASSETS |
22.786.988,00 |
68,16 |
16.193.058,00 |
57,65 |
12.876.937,00 |
60,87 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
6.088.239,00 |
18,21 |
7.051.953,00 |
25,10 |
2.347.885,50 |
11,10 |
|
B) NON CURRENT LIABILITIES |
2.151.272,00 |
6,43 |
3.122.208,00 |
11,12 |
2.376.795,50 |
11,24 |
|
C) CURRENT LIABILITIES |
25.194.128,00 |
75,36 |
17.915.803,00 |
63,78 |
16.429.501,00 |
77,67 |
Profit and Loss Account Analysis
Figures given in €
|
|
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2007 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
20.342.557,00 |
|
24.285.043,00 |
|
13.132.393,00 |
|
|
GROSS MARGIN |
9.780.345,00 |
48,08 |
12.847.033,00 |
52,90 |
7.984.349,00 |
60,80 |
|
EBITDA |
2.140.931,00 |
10,52 |
4.563.240,00 |
18,79 |
1.324.136,00 |
10,08 |
|
EBIT |
-1.471.102,00 |
-7,23 |
2.944.613,00 |
12,13 |
243.363,00 |
1,85 |
|
NET RESULT |
-894.513,00 |
-4,40 |
4.592.764,00 |
18,91 |
1.184.697,00 |
9,02 |
|
EFFECTIVE TAX RATE (%) |
-46,59 |
0,00 |
-66,13 |
0,00 |
-1.136,75 |
-0,01 |
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|||
|
A) NON CURRENT ASSETS |
31,84 |
21,22 |
10,62 |
|
|
|
|
|
A) CURRENT ASSETS |
68,16 |
78,78 |
-10,62 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|||
|
A) NET WORTH |
18,21 |
34,08 |
-15,87 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
6,43 |
12,84 |
-6,40 |
|
|
|
|
|
C) CURRENT LIABILITIES |
75,36 |
53,09 |
22,27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
|
SALES |
87,40 |
97,74 |
-10,35 |
|
|
|
|
|
GROSS MARGIN |
42,02 |
38,88 |
3,13 |
|
|
|
|
|
EBITDA |
9,20 |
9,28 |
-0,08 |
|
|
|
|
|
EBIT |
-6,32 |
7,19 |
-13,51 |
|
|
|
|
|
NET RESULT |
-3,84 |
5,37 |
-9,21 |
|
|
|
|
Sector Composition
Compared sector (NACE 2009): 2712
Number of companies: 23
Size (Sales Figure): 7,000,000.00 - 40,000,000.00 Euros
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 |
-894.513,00 |
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 |
0,00 |
|
Total of Amounts to be distributed |
-894.513,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
-894.513,00 |
|
|
|
Application total |
-894.513,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: ERNST & YOUNG S.L.
Auditing fees: 10.000,00 €
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.
ADDRESSES
Current Legal Seat Address:
AVENIDA DE FUENTEMAR (PG IND CTM ), 5
28823 COSLADA MADRID
Previous Seat Address:
CALLE AMSTERDAM 77
28813 TORRES
DE LA ALAMEDA MADRID
Characteristics of the current address
Type of establishment: office
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CAMINO BENISANO OLOCAU, S/N |
46181 |
BENISANO |
Valencia |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
12/06/2008)
Other Positions : 8 (latest change: 02/11/2011)
Auditor : 1 (latest change: 29/12/2010)
Operative Board Members : 4 (latest change: 11/02/2009)
Non-current positions : 24 (latest change: 02/11/2011)
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
SOLE ADMINISTRATOR |
GAMESA ELECTRIC SA |
12/06/2008 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
ERNST & YOUNG SL |
29/12/2010 |
Board members remuneration
Source: Annual
financial report 2009
Board
members remuneration: 0,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
BARBERO, TOMAS |
|
Financial Manager |
LOPEZ JOSE, ANGEL |
|
Human Resources Director |
MORATILLA, BELEN |
|
Commercial Director |
SANTIESTEBAN, INMACULADA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GAMESA ELECTRIC SA |
A95373353 |
100,00 |
OWN SOURCES |
09/02/2010 |
Majority shareholder of GAMESA ELECTRIC SA
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GAMESA ENERGIA SOCIEDAD ANONIMA |
A80477144 |
100,00 |
OWN SOURCES |
24/03/2011 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GAMESA POWER SYSTEMS SOCIEDAD ANONIMA. |
A95316980 |
100,00 |
B.O.R.M.E. |
16/02/2006 |
|
|
GAMESA ENERGIA SOCIEDAD ANONIMA |
A80477144 |
100,00 |
B.O.R.M.E. |
09/02/2005 |
|
|
GAMESA CORPORACION TECNOLOGICA SOCIEDAD
ANONIMA |
A01011253 |
100,00 |
B.O.R.M.E. |
16/04/2004 |
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”GAMESA ELECTRIC SA”
|
COMPANY |
POSITION |
PROVINCE |
|
VALENCIA POWER CONVERTERS SA |
Administrador Único |
VALENCIA |
|
CANTAREY REINOSA S A |
Administrador Único |
CANTABRIA |
In case you need more information you can request:Board Members Monitoring
Name Search in the Internet
Search Criterion:
”ENERTRON SL”
URL: www.enertron.net
Portada - Enertron: generamos futuro Gamesa es uno de los principales
fabricantes de aerogeneradores del mundo, líder en España en la fabricación, venta
e instalación de turbinas eólicas.
URL: www.enertron.net
Enertron - Gamesa: powering the future Enertrón. Advanced Power Electronics
for New Technologies. Enertron • Products ... Enertrón has developed a large
number of significant projects in the power ...
BUSINESS INFORMATION
Incorporation date: 12/11/1979
Establishment date: 01/01/1979
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
NACE 2009 CODE: 2712
NACE 2009 Activity: Manufacture of electricity distribution and
control apparatus
Business: FABRICACION DE GENERADORES ELECTRICOS (ORDENADORES)
Activity description: DISENO Y FABRICACION DE SAI DE MEDIA Y GRAN
POTENCIA PARA CENTRALES ELECTRICAS DE GENERACION Y PARA PLANTAS INDUSTRIALES.
Environmental information: YES (Page 58) Annual
financial report 2009
Latest employees figure: 100 (2010)
% of fixed employees: 93,91%
% of temporary employees: 6,09%
% of men: 73,68%
% of women: 26,32%
Employees evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
84 |
30 |
SALES
National Distribution: 100%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
GAMESA ELECTRIC
SA |
NO |
|
GAMESA
INNOVATION TECHNOLOGY SA |
NO |
|
CANTAREY REINOSA
SA |
NO |
|
VALENCIA POWER
CONVERTERS SA |
NO |
|
GAMESA
INDUSTRIAL SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
VALENCIA POWER
CONVERTERS SA |
NO |
|
GAMESA EOLICA SA |
NO |
|
GAMESA SOLAR SA |
NO |
|
CANTAREY REINOSA
SA |
NO |
|
MADE TECNOLOGIAS
RENOVABLES SAU |
NO |
•
El 82,92% de su cifra de negocio corresponde a
windfact.
•
El 17,08% de su cifra de negocio corresponde a
otros.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANKIA, S.A. |
2454 |
MAYOR ALTA, 12 |
TORRES DE LA ALAMEDA |
Madrid |
|
BANCO POPULAR ESPAÑOL, S.A. |
0583 |
PZ. MARAVILLEGAS, S/N |
TORRES DE LA ALAMEDA |
Madrid |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
COSLADA |
|
|
BANKINTER, S.A. |
|
|
COSLADA |
|
|
BANCO ESPAÑOL DE CREDITO, S.A. |
|
|
COSLADA |
|
FORMER NAMES:
•
ENERTRON SA
Brand name: ENERTRON MADE IN GAMESA (Valid)
Type: JOINT Scope: NATIONAL Date: 13/10/2009
Brand name: WINDFACT (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 27/12/2005
Brand name: DIPFACT (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 27/12/2005
Brand name: ENERTRON S.A. (Valid)
Type: JOINT Scope: NATIONAL Date: 06/05/2002
LEGAL STRUCTURE
Constitution Data
Register Date: 12/11/1979
Legal form: Sole-partnered Limited Liability Company
Share capital: 300.500,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE COMMERCIAL REGISTRY)
Acts on activity: 0
Acts on administrators: 42 (Last: 16/11/2011, first:
29/05/1992)
Acts on capital: 4 (Last: 08/01/2001, first:
13/08/1997)
Acts on creation: 0
Acts on filed accounts: 20 (Last: 11/01/2011, first:
05/12/1990)
Acts on identification: 3 (Last: 08/02/2007, first:
17/05/1995)
Acts on Information: 8 (Last: 16/02/2006, first:
29/05/1992)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Appointments |
16/11/2011 |
453230 |
Madrid |
|
Resignations |
16/11/2011 |
453229 |
Madrid |
|
Re-elections |
29/12/2010 |
483987 |
Madrid |
|
Appointments |
13/12/2010 |
456797 |
Madrid |
|
Resignations |
13/12/2010 |
456797 |
Madrid |
|
Resignations |
31/07/2009 |
338786 |
Madrid |
|
Appointments |
19/06/2008 |
307493 |
Madrid |
|
Re-elections |
12/06/2008 |
293838 |
Madrid |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Annual Filed Accounts (2009) |
11/01/2011 |
11999 |
Madrid |
|
Annual Filed Accounts (2008) |
10/11/2009 |
826344 |
Madrid |
|
Annual Filed Accounts (2007) |
23/09/2008 |
622897 |
Madrid |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 1 (Last: 06/10/2009)
Informative data: 2 (Last: 25/03/2008, first: 01/04/2006)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 4 (Last: 26/02/2005, first:
27/02/1995)
Latest
press article published
06/10/2009 CINCO DIAS - SHAREHOLDERS AND HOLDINGS
GAMESA Y EL GRUPO ARTECHE HAN CERRADO UNA ALIANZA
PARA COMERCIALIZAR A NIVEL MUNDIAL LOS PRODUCTOS ELECTRICOS FABRICADOS POR SUS
RESPECTIVAS FILIALES ENERTRON E INELAP. EL ACUERDO, QUE HA SUPUESTO LA CREACION
DE QGRID TECHNOLOGIES, PUEDE DESEMBOCAR EN UN FUTURO EN EL DISEÑO E
INDUSTRIALIZACION DE SISTEMAS ELECTRONICOS DE POTENCIA QUE SE REALIZARIAN EN
UNA INSTALACION CONJUNTA. EN LA NUEVA SDAD., QUE TENDRA SU SEDE EN ZAMUDIO
(VIZCAYA), GAMESA CONTROLARA EL 60% DEL CAPITAL Y ARTECHE EL 40% RESTANTE A
TRAVES DE SU FILIAL NORTEAMERICANA ARTECHE POWER QUALITY. LA SDAD. CONJUNTA SE
HA CONSTITUIDO CON UN CAPITAL INICIAL DE 20.000 EUROS.
25/03/2008 TRIBUNA DE SALAMANCA -
GENERAL INFORMATION
ENERTRON, EMPRESA DEL GRUPO GAMESA, ESTA CONSTRUYENDO
UNA FABRICA EN BENISANO (VALENCIA), QUE SE ENCARGARA DE FABRICAR LOS
COMPONENTES ELECTRONICOS PARA LOS PARQUES EOLICOS DEL PLAN EOLICO. LA PLANTA,
QUE ESTA A PUNTO DE FINALIZAR, CUENTA CON UNA INVERSION DE 7,9 MM. DE EUROS Y
SUPONDRA LA CREACION DE 114 PUESTOS DE TRABAJO.
01/04/2006
ESTRATEGIA EMPRESARIAL - GENERAL INFORMATION
GAMESA LIDERA JUNTO A ECOTECNIA EL CONSORCIO WINDLIDER 2015 PARA LA SIMULACION INTEGRAL DE UN GRAN AEROGENERADOR DEL QUE SE PODRA EXTRAPOLAR SU FUNCIONAMIENTO A POTENCIAS SUPERIORES A 10 MW. EL PROYECTO CONCLUIRA EN 2009 Y GAMESA APORTARA PERSONAL DE I+D DE GAMESA EOLICA, FIBERBLADE, GAMESA ENERGY TRANSMISSIONS, ENERTRON Y CANTAREY. POR SU PARTE, ECOTECNIA APORTARA SU PROPIO PERSONAL DE I+D. SOBRE UN IMPORTE TOTAL DE 39,5 MM. DE EUROS DEL PROYECTO, LA INVERSION DE LAS EMPRESAS DEL GRUPO GAMESA ES DE 30,5 MM. DE EUROS, DE LOS CUALES 17,7 MM. SON SUBCONTRATACIONES. LA AYUDA PREVISTA DE CENIT ES DE 15,25 MM., POR LO QUE EL DESEMBOLSO NETO DE GAMESA SERA DE 2,45 MM.
26/02/2005 EXPANSIÓN DEL PAIS VASCO -
SHAREHOLDERS AND HOLDINGS
GAMESA HA COMENZADO A AGLUTINAR BAJO LA NUEVA
CABECERA GAMESA POWER SYSTEM LAS EMPRESAS FABRICANTES DE COMPONENTES DE
AEROGENERADORES QUE EL GRUPO HA IDO ADQUIRIENDO EN LOS ULTIMOS AÑOS, FRUTO DE
SU ESTRATEGIA DE INTEGRACION VERTICAL. LA SDAD. HOLDING HA LLEVADO A CABO
RECIENTEMENTE UNA AMPLIACION DE CAPITAL POR 28 MM DE EUROS, PARA HACERSE CON EL
100% DE LAS EMPRESAS ENERTRON Y GAMESA ENERGY TRANSMISSION. ENERTRON FABRICA
COMPONENTES ELECTRONICOS DE POTENCIA EN EL MUNICIPIO DE TORRES DE LA ALAMEDA Y
CUENTA CON UNA PLANTILLA DE 30 EMPLEADOS.
19/03/2004 EXPANSIÓN - PRODUCTION DATA
GAMESA COMENZARA A FABRICAR ESTE AÑO EN VALENCIA, A TRAVES DE SU EMPRESA DE ELECTRONICA DE POTENCIA ENERTRON, LOS CONVERTIDORES DE POTENCIA DESTINADOS A LOS AEROGENERADORES QUE PRODUCE PARA LOS PARQUES EOLICOS DEL MERCADO NACIONAL. LA EMPRESA SUMINISTRARA DESDE VALENCIA LOS 100 PRIMEROS EQUIPOS PARA LAS TURBINAS QUE FABRICA GAMESA, POR UN IMPORTE DE 2,1 MM DE EUROS.
FINANCIAL
INFORMATION
The information on the last
account contained in this report is extracted from the Commercial Registry file
of the legal address of the Company and dated 03/02/2011.
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.
This theoretical conversion exercise has been carried out from the financial statements contained in the accounting information presented on the Commercial Registry, and elaborated under the accounting norms and principles collected in PGC90 derived from RD 1643/1990, not taking into account any other type of information; for this reason the conversion exercise could include certain inaccuracies.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
10.646.651,00 |
31,84 |
11.896.906,00 |
42,35 |
8.277.245,00 |
39,13 |
|
I. Intangible assets |
5.703.131,00 |
17,06 |
7.004.337,00 |
24,94 |
6.249.029,00 |
29,54 |
|
1. Development |
5.656.773,00 |
16,92 |
6.940.152,00 |
24,71 |
|
|
|
5. Software |
46.358,00 |
0,14 |
64.185,00 |
0,23 |
|
|
|
II. Tangible fixed assets |
798.814,00 |
2,39 |
632.514,00 |
2,25 |
675.174,00 |
3,19 |
|
2. Technical fittings and other tangible
assets |
798.814,00 |
2,39 |
632.514,00 |
2,25 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated
and affiliated companies |
|
|
|
|
1.353.042,00 |
6,40 |
|
V. Long Term Financial Investments |
42.373,00 |
0,13 |
47.615,00 |
0,17 |
|
|
|
5. Other financial assets |
42.373,00 |
0,13 |
47.615,00 |
0,17 |
|
|
|
VI. Assets by deferred taxes |
4.102.333,00 |
12,27 |
4.212.440,00 |
15,00 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
22.786.988,00 |
68,16 |
16.193.058,00 |
57,65 |
12.876.937,00 |
60,87 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
6.057.369,00 |
18,12 |
2.887.817,00 |
10,28 |
2.765.338,00 |
13,07 |
|
2. Raw material inventory |
1.124.920,00 |
3,36 |
1.426.516,00 |
5,08 |
|
|
|
3. Work in Progress |
4.797.533,00 |
14,35 |
1.333.307,00 |
4,75 |
|
|
|
b) Short production
cycle |
4.797.533,00 |
14,35 |
1.333.307,00 |
4,75 |
|
|
|
6. Pre-payments to suppliers |
134.916,00 |
0,40 |
127.994,00 |
0,46 |
|
|
|
III. Trade Debtors and other receivable
accounts |
16.569.994,00 |
49,56 |
13.151.343,00 |
46,82 |
10.107.933,00 |
47,78 |
|
1. Clients |
16.117.901,00 |
48,21 |
12.582.554,00 |
44,79 |
|
|
|
b) Clients for sales and
short term services rendering |
16.117.901,00 |
48,21 |
12.582.554,00 |
44,79 |
|
|
|
2. Clients group and associated companies |
433.118,00 |
1,30 |
411.981,00 |
1,47 |
|
|
|
4. Staff |
18.975,00 |
0,06 |
15.554,00 |
0,06 |
|
|
|
6. Other credits with the Public
Administrations |
|
|
141.254,00 |
0,50 |
|
|
|
IV. Short term investments in associated
and affiliated companies |
150.000,00 |
0,45 |
150.000,00 |
0,53 |
2.224,00 |
0,01 |
|
2. Credits to companies |
150.000,00 |
0,45 |
150.000,00 |
0,53 |
|
|
|
V. Short term financial investments |
2.224,00 |
0,01 |
2.224,00 |
0,01 |
|
|
|
5. Other financial assets |
2.224,00 |
0,01 |
2.224,00 |
0,01 |
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
7.401,00 |
0,02 |
1.674,00 |
0,01 |
1.442,00 |
0,01 |
|
1. Treasury |
7.401,00 |
0,02 |
1.674,00 |
0,01 |
|
|
|
TOTAL ASSETS (A + B) |
33.433.639,00 |
100,00 |
28.089.964,00 |
100,00 |
21.154.182,00 |
100,00 |
Alerts associated to the conversion to PGC2007
In
the conversion process of financial statements of the accounts formulation exercise
to PGC2007 there could not be identified and, this way reclassify “Assets by
deferred taxes” within the Non current assets that under PGC90 were, generally,
classified in the short term, in accordance with its reversion foreseen date,
and it is collected in the item 11600 “Assets by deferred taxes”.
In
the conversion process it has not been possible to identify the existence of
Goodwill nor of goods obtained through leasing; for this reason the result of
the conversion of the financial statements of the accounts formulation exercise
to PGC2007 could include notable inaccuracies.
Net Worth and Liabilities
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
6.088.239,00 |
18,21 |
7.051.953,00 |
25,10 |
2.347.885,50 |
11,10 |
|
A-1) Equity |
6.025.091,00 |
18,02 |
6.919.604,00 |
24,63 |
2.326.840,00 |
11,00 |
|
I. Capital |
300.500,00 |
0,90 |
300.500,00 |
1,07 |
300.500,00 |
1,42 |
|
1. Authorized capital |
300.500,00 |
0,90 |
300.500,00 |
1,07 |
300.500,00 |
1,42 |
|
II. Issue premium |
306.516,00 |
0,92 |
306.516,00 |
1,09 |
306.516,00 |
1,45 |
|
III. Reserves |
6.312.588,00 |
18,88 |
1.719.824,00 |
6,12 |
535.127,00 |
2,53 |
|
1. Legal and statutory |
60.100,00 |
0,18 |
60.100,00 |
0,21 |
|
|
|
2. Other funds |
6.252.488,00 |
18,70 |
1.659.724,00 |
5,91 |
|
|
|
IV. (Net worth own shares and
participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-894.513,00 |
-2,68 |
4.592.764,00 |
16,35 |
1.184.697,00 |
5,60 |
|
VIII. (Interim dividend) |
|
|
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
|
|
|
|
|
|
|
I. Financial assets available for sale |
|
|
|
|
|
|
|
II. Coverage operations |
|
|
|
|
|
|
|
III. Non-current assets and related
liabilities, maintained for sale |
|
|
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
|
|
V. Other |
|
|
|
|
|
|
|
A-3) Received legacies, grants and
subventions |
63.148,00 |
0,19 |
132.349,00 |
0,47 |
21.045,50 |
0,10 |
|
B) NON CURRENT LIABILITIES |
2.151.272,00 |
6,43 |
3.122.208,00 |
11,12 |
2.376.795,50 |
11,24 |
|
I. Long term provisions |
1.410.718,00 |
4,22 |
1.239.966,00 |
4,41 |
|
|
|
4. Other provisions |
1.410.718,00 |
4,22 |
1.239.966,00 |
4,41 |
|
|
|
II. Long term debts |
502.162,00 |
1,50 |
723.726,00 |
2,58 |
|
|
|
5. Other financial liabilities |
502.162,00 |
1,50 |
723.726,00 |
2,58 |
|
|
|
III. Long term debts with associated and
affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
238.392,00 |
0,71 |
1.158.516,00 |
4,12 |
|
|
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special
characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
25.194.128,00 |
75,36 |
17.915.803,00 |
63,78 |
16.429.501,00 |
77,67 |
|
I. Liabilities related with non-current
assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
263.438,00 |
0,79 |
263.438,00 |
0,94 |
|
|
|
III. Short term debts |
196.636,00 |
0,59 |
977.943,00 |
3,48 |
|
|
|
2. Debts with bank entities |
|
|
783.988,00 |
2,79 |
|
|
|
5. Other financial liabilities |
196.636,00 |
0,59 |
193.955,00 |
0,69 |
|
|
|
IV. Short term debts with associated and
affiliated companies |
7.733.693,00 |
23,13 |
6.458.120,00 |
22,99 |
|
|
|
V. Trade creditors and other payable
accounts |
16.982.077,00 |
50,79 |
10.216.302,00 |
36,37 |
|
|
|
1. Suppliers |
6.677.708,00 |
19,97 |
3.178.676,00 |
11,32 |
|
|
|
b) Short term suppliers |
6.677.708,00 |
19,97 |
3.178.676,00 |
11,32 |
|
|
|
2. Suppliers group and associated
companies |
668.071,00 |
2,00 |
553.959,00 |
1,97 |
|
|
|
3. Different creditors |
34.939,00 |
0,10 |
240.392,00 |
0,86 |
|
|
|
4. Staff (pending remunerations) |
371.797,00 |
1,11 |
426.494,00 |
1,52 |
|
|
|
6. Other debts with Public Administrations |
625.245,00 |
1,87 |
173.189,00 |
0,62 |
|
|
|
7. Clients pre-payments |
8.604.317,00 |
25,74 |
5.643.592,00 |
20,09 |
|
|
|
VI. Short term periodifications |
18.284,00 |
0,05 |
|
|
|
|
|
VII. Short term debts with special
characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B +
C) |
33.433.639,00 |
100,00 |
28.089.964,00 |
100,00 |
21.154.182,00 |
100,00 |
Alerts associated to the conversion to PGC2007
The
Valuation norms applicable to “Subventions” have changed substantially and, for
this reason, the conversion of financial statements of the formulation exercise
of the accounts to PGC2007 could include notable inaccuracies
The
Valuation norms applicable to long term provisions have changed substantially
and, for this reason, the conversion of financial statements of the formulation
exercise of the accounts to PGC2007 could include notable inaccuracies. The
company maintained in the current and subsequent accounts formulation exercise
provisions for %1 and %2 respectively.
The
Valuation norms applicable to “Long Term Creditors” have changed substantially
and, for this reason, the conversion of financial statements of the formulation
exercise of the accounts to PGC2007 could include notable inaccuracies.
The Valuation norms applicable to
“Short Term Creditors” have changed and, for this reason, the conversion of
financial statements of the formulation exercise of the accounts to PGC2007
could include notable inaccuracies.
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
20.342.557,00 |
87,40 |
24.285.043,00 |
90,14 |
13.132.393,00 |
78,33 |
|
A) Sales |
20.315.932,00 |
87,28 |
24.270.543,00 |
90,08 |
|
|
|
b) Services provided |
26.625,00 |
0,11 |
14.500,00 |
0,05 |
|
|
|
2. Variation in stocks of finished goods
and work in progress |
3.464.226,00 |
14,88 |
594.326,00 |
2,21 |
|
|
|
3. Works for its own assets |
1.999.898,00 |
8,59 |
1.616.263,00 |
6,00 |
|
|
|
4. Supplies |
-16.960.398,00 |
-72,86 |
-14.689.915,00 |
-54,52 |
-8.781.767,00 |
-52,38 |
|
b) Raw materials consumed |
-15.888.404,00 |
-68,26 |
-14.491.390,00 |
-53,79 |
|
|
|
c) Works carried out for other companies |
-1.129.683,00 |
-4,85 |
-662.330,00 |
-2,46 |
|
|
|
d) Deterioration on merchandises, raw
materials and other supplies |
57.689,00 |
0,25 |
463.805,00 |
1,72 |
|
|
|
5. Other operating income |
934.062,00 |
4,01 |
1.041.316,00 |
3,86 |
3.633.723,00 |
21,67 |
|
a) Other incomes |
900.000,00 |
3,87 |
954.914,00 |
3,54 |
|
|
|
b) Operating grants included in the
exercise result |
34.062,00 |
0,15 |
86.402,00 |
0,32 |
|
|
|
6. Labour cost |
-4.877.497,00 |
-20,95 |
-5.092.643,00 |
-18,90 |
-3.931.229,00 |
-23,45 |
|
a) Wages and similar expenses |
-3.671.177,00 |
-15,77 |
-3.877.745,00 |
-14,39 |
|
|
|
b) Social costs |
-1.206.320,00 |
-5,18 |
-1.214.898,00 |
-4,51 |
|
|
|
7. Other operating costs |
-2.968.656,00 |
-12,75 |
-3.781.392,00 |
-14,03 |
-2.728.984,00 |
-16,28 |
|
a) External services |
-2.793.676,00 |
-12,00 |
-2.720.796,00 |
-10,10 |
|
|
|
b) Taxes |
-9.410,00 |
-0,04 |
-11.258,00 |
-0,04 |
|
|
|
c) Losses, deterioration and variation on
business operations provisions |
-165.570,00 |
-0,71 |
-1.049.338,00 |
-3,89 |
|
|
|
8. Amortization of fixed assets |
-3.504.152,00 |
-15,05 |
-1.033.094,00 |
-3,83 |
-1.080.773,00 |
-6,45 |
|
9. Allocation of subventions on non
financial investments and other |
98.858,00 |
0,42 |
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed
assets disposal |
|
|
4.709,00 |
0,02 |
|
|
|
b) Results for disposals and others |
|
|
4.709,00 |
0,02 |
|
|
|
12. Negative difference of business
combinations |
|
|
|
|
|
|
|
13. Other results |
|
|
|
|
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 +
6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) |
-1.471.102,00 |
-6,32 |
2.944.613,00 |
10,93 |
243.363,00 |
1,45 |
|
14. Financial income |
25,00 |
0,00 |
123,00 |
0,00 |
4.141,00 |
0,02 |
|
b) From negotiable values and other
financial instruments |
25,00 |
0,00 |
123,00 |
0,00 |
|
|
|
b 2) From third parties |
25,00 |
0,00 |
123,00 |
0,00 |
|
|
|
15. Financial expenses |
-197.777,00 |
-0,85 |
-180.114,00 |
-0,67 |
-365.829,00 |
-2,18 |
|
a) For debts with associated and
affiliated companies |
-123.195,00 |
-0,53 |
-137.881,00 |
-0,51 |
|
|
|
b) For debts with third parties |
-74.582,00 |
-0,32 |
-42.233,00 |
-0,16 |
|
|
|
16. Reasonable value variation on
financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
-6.019,00 |
-0,03 |
-5,00 |
0,00 |
4.005,00 |
0,02 |
|
18. Deterioration and result for disposal
of financial instruments |
|
|
|
|
50,00 |
0,00 |
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 +
18 + 19) |
-203.771,00 |
-0,88 |
-179.996,00 |
-0,67 |
-357.633,00 |
-2,13 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-1.674.873,00 |
-7,20 |
2.764.617,00 |
10,26 |
-114.270,00 |
-0,68 |
|
20. Taxes on profits |
780.360,00 |
3,35 |
1.828.147,00 |
6,79 |
1.298.967,00 |
7,75 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED
OPERATIONS (A.3 + 20) |
-894.513,00 |
-3,84 |
4.592.764,00 |
17,05 |
|
|
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming
from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-894.513,00 |
-3,84 |
4.592.764,00 |
17,05 |
1.184.697,00 |
7,07 |
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-894.513,00 |
4.592.764,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO
NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and
subventions |
|
|
|
IV. For actuarial profits and losses and
other adjustments |
|
|
|
V. Non-current assets and related liabilities,
maintained for sale |
|
|
|
VI. Conversion differences |
|
|
|
VII. Tax effect |
|
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED
DIRECTLY TO NET WORTH (I + II + III + IV +V+VI+VII) |
|
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial
instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and
subventions |
-98.858,00 |
|
|
XI. Non-current assets and related
liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
29.657,00 |
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS
ACCOUNT (VIII + IX + X + XI+ XII+ XIII) |
-69.201,00 |
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A +
B + C) |
-963.714,00 |
4.592.764,00 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
300.500,00 |
306.516,00 |
535.127,00 |
1.184.697,00 |
|
I. Adjustments by change of criteria in
the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2008) |
300.500,00 |
306.516,00 |
535.127,00 |
1.184.697,00 |
|
I. Total recognized income and expenses |
|
|
|
4.592.764,00 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
1.184.697,00 |
-1.184.697,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
300.500,00 |
306.516,00 |
1.719.824,00 |
4.592.764,00 |
|
I. Adjustments by change of criteria in
the exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2009) |
300.500,00 |
306.516,00 |
1.719.824,00 |
4.592.764,00 |
|
I. Total recognized income and expenses |
|
|
|
-894.513,00 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
4.592.764,00 |
-4.592.764,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
300.500,00 |
306.516,00 |
6.312.588,00 |
-894.513,00 |
|
NET WORTH CHANGES ( 3 /3) |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
2.326.840,00 |
|
|
|
I. Adjustments by change of criteria in
the exercise (2007) |
132.349,00 |
132.349,00 |
|
|
|
II. Adjustments by errors in the exercise
(2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2008) |
132.349,00 |
2.459.189,00 |
|
|
|
I. Total recognized income and expenses |
|
4.592.764,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
132.349,00 |
7.051.953,00 |
|
|
|
I. Adjustments by change of criteria in
the exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2009) |
132.349,00 |
7.051.953,00 |
|
|
|
I. Total recognized income and expenses |
-69.201,00 |
-963.714,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
63.148,00 |
6.088.239,00 |
|
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING
ACTIVITIES |
|
|
|
1. exercise result before taxes |
-1.674.873,00 |
2.764.617,00 |
|
2. Results adjustments |
3.716.946,00 |
2.218.873,00 |
|
a) Amortization of fixed assets (+) |
3.504.152,00 |
1.033.094,00 |
|
b) Value correction for deterioration
(+/-) |
-62.871,00 |
|
|
c) Change of Provisions (+/-) |
170.752,00 |
1.010.492,00 |
|
d) Grants allocation (-) |
-98.858,00 |
|
|
e) Results for decline and disposal of
fixed assets (+/-) |
|
-4.709,00 |
|
g) Financial income (-) |
-25,00 |
-123,00 |
|
f) Financial expenses (+) |
197.777,00 |
180.114,00 |
|
i) Change difference (+/-) |
6.019,00 |
5,00 |
|
3. Changes in current capital |
263.969,00 |
-1.245.608,00 |
|
a) Stocks (+/-) |
-3.111.863,00 |
-83.632,00 |
|
b) Debtors and other receivable accounts
(+/-) |
-3.413.469,00 |
-3.265.089,00 |
|
d) Creditors and other payable accounts
(+/-) |
6.765.775,00 |
2.103.113,00 |
|
e) Other current liabilities (+/-) |
18.284,00 |
|
|
f) Other non-current assets and
liabilities (+/-) |
5.242,00 |
|
|
4. Other cash flow coming from operating
activities |
-197.752,00 |
-257.417,00 |
|
a) Interests payments (-) |
-197.777,00 |
-268.605,00 |
|
c) Interests collections (+) |
25,00 |
123,00 |
|
d) Collections (payments) for profit tax
(+/-) |
|
11.065,00 |
|
5. Cash flow coming from operating
activities (1 + 2 + 3 + 4) |
2.108.290,00 |
3.480.465,00 |
|
B) CASH FLOW COMING FROM INVESTING
ACTIVITIES |
|
|
|
6. Investment payments (-) |
-2.369.246,00 |
-1.787.846,00 |
|
b) Intangible assets |
-1.839.262,00 |
-1.657.886,00 |
|
c) Tangible assets |
-529.984,00 |
-126.840,00 |
|
e) Other financial assets |
|
-3.120,00 |
|
7. Disinvestment collections (+) |
|
43.692,00 |
|
c) Tangible assets |
|
43.692,00 |
|
8. Cash Flow in investment activities (6 +
7) |
-2.369.246,00 |
-1.744.154,00 |
|
C) CASH FLOW COMING FROM FINANCING
ACTIVITIES |
|
|
|
9. Net worth instruments collections and
payments |
|
|
|
10. Financial liabilities instruments
collections and payments |
272.702,00 |
-1.736.074,00 |
|
a) Issue |
1.275.573,00 |
|
|
3. Debts with group and
associated companies (+) |
1.275.573,00 |
|
|
b) Return and amortization of |
-1.002.871,00 |
-1.736.074,00 |
|
2. Debts with bank
entities (-) |
-783.988,00 |
|
|
3. Debts with group and
associated companies (-) |
|
-1.644.544,00 |
|
5. Other debts (-) |
-218.883,00 |
-91.530,00 |
|
11. Payments for dividends and
remunerations of other net worth instruments |
|
|
|
12. Cash Flow in financing activities (9 +
10 + 11) |
272.702,00 |
-1.736.074,00 |
|
D) Exchange rate variations effect |
-6.019,00 |
-5,00 |
|
E) NET CASH OR EQUIVALENTS INCREASE /
REDUCTION (5 + 8 + 12 + D) |
5.727,00 |
232,00 |
|
Cash or equivalents at the beginning of
the exercise |
1.674,00 |
1.442,00 |
|
Cash or equivalents at the end of the
exercise |
7.401,00 |
1.674,00 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
-2.407.140,00 |
-39,73 |
-1.722.745,00 |
51,51 |
-3.552.564,00 |
|
Working capital ratio |
-0,07 |
-16,67 |
-0,06 |
64,71 |
-0,17 |
|
Soundness Ratio |
0,57 |
-1,72 |
0,58 |
107,14 |
0,28 |
|
Average Collection Period (days) |
293 |
50,37 |
195 |
-29,61 |
277 |
|
Average Payment Period (days) |
446 |
37,32 |
325 |
|
|
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
90,45 |
0,08 |
90,38 |
15,31 |
78,38 |
|
Quick Ratio (%) |
0,04 |
100,00 |
0,02 |
100,00 |
0,01 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
25,22 |
-13,18 |
29,05 |
|
|
|
External Financing Average Cost |
0,02 |
0,00 |
0,02 |
|
|
|
Debt Service Coverage |
4,00 |
70,94 |
2,34 |
|
|
|
Interest Coverage |
-7,44 |
-145,50 |
16,35 |
2.340,30 |
0,66 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
10,36 |
-27,70 |
14,33 |
-16,93 |
17,25 |
|
Auto financing generated by Assets (%) |
6,31 |
-49,07 |
12,39 |
15,69 |
10,71 |
|
Breakdown Point |
0,93 |
-18,42 |
1,14 |
11,76 |
1,02 |
|
Average Sales Volume per Employee |
178.443,48 |
-11,09 |
200.702,83 |
54,36 |
130.023,69 |
|
Average Cost per Employee |
42.785,06 |
1,66 |
42.087,96 |
8,13 |
38.923,06 |
|
Assets Turnover |
0,61 |
-29,89 |
0,86 |
40,32 |
0,62 |
|
Inventory Turnover (days) |
129 |
81,22 |
71 |
-37,46 |
113 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-4,40 |
-141,98 |
10,48 |
811,30 |
1,15 |
|
Operating Profitability (%) |
6,08 |
-57,12 |
14,18 |
126,52 |
6,26 |
|
Return on Equity (ROE) (%) |
-27,80 |
-169,59 |
39,95 |
913,65 |
-4,91 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
31,84 |
21,22 |
10,62 |
|
A) CURRENT ASSETS |
68,16 |
78,78 |
-10,62 |
|
LIABILITIES |
|||
|
A) NET WORTH |
18,21 |
34,08 |
-15,87 |
|
B) NON CURRENT LIABILITIES |
6,43 |
12,84 |
-6,40 |
|
C) CURRENT LIABILITIES |
75,36 |
53,09 |
22,27 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
87,40 |
97,74 |
-10,34 |
|
Other operating income |
12,60 |
2,26 |
10,34 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-72,86 |
-61,58 |
-11,28 |
|
Variation in stocks of finished goods and
work in progress |
14,88 |
0,47 |
14,41 |
|
GROSS MARGIN |
42,02 |
38,88 |
3,14 |
|
Other operating costs |
-12,75 |
-10,64 |
-2,11 |
|
Labour cost |
-20,95 |
-19,35 |
-1,60 |
|
GROSS OPERATING RESULT |
8,31 |
8,90 |
-0,59 |
|
Amortization of fixed assets |
-15,05 |
-1,82 |
-13,23 |
|
Deterioration and result for fixed assets
disposal |
|
0,12 |
|
|
Other expenses / income |
0,42 |
|
|
|
NET OPERATING RESULT |
-6,32 |
7,19 |
-13,51 |
|
Financial result |
-0,88 |
-0,99 |
0,11 |
|
RESULT BEFORE TAX |
-7,20 |
6,20 |
-13,40 |
|
Taxes on profits |
3,35 |
-0,83 |
4,18 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
-3,84 |
|
|
|
NET RESULT |
-3,84 |
5,37 |
-9,21 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
-2.407.140,00 |
1.175.892,67 |
1.745.984,16 |
4.204.179,88 |
|
Working capital ratio |
-0,07 |
0,14 |
0,29 |
0,46 |
|
Soundness Ratio |
0,57 |
1,11 |
2,80 |
7,34 |
|
Average Collection Period (days) |
293 |
118 |
140 |
185 |
|
Average Payment Period (days) |
446 |
27 |
105 |
126 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
90,45 |
1,25 |
1,54 |
1,99 |
|
Quick Ratio (%) |
0,04 |
0,02 |
0,07 |
0,31 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
25,22 |
0,00 |
12,45 |
33,02 |
|
External Financing Average Cost |
0,02 |
0,03 |
0,04 |
0,10 |
|
Debt Service Coverage |
4,00 |
0,00 |
0,78 |
6,74 |
|
Interest Coverage |
-7,44 |
1,44 |
4,66 |
18,37 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
10,36 |
2,94 |
6,11 |
8,50 |
|
Auto financing generated by Assets (%) |
6,31 |
2,37 |
9,48 |
12,44 |
|
Breakdown Point |
0,93 |
1,02 |
1,06 |
1,11 |
|
Average Sales Volume per Employee |
178.443,48 |
138.612,50 |
188.429,62 |
259.901,79 |
|
Average Cost per Employee |
42.785,06 |
29.620,44 |
33.460,13 |
37.916,28 |
|
Assets Turnover |
0,61 |
1,14 |
1,31 |
1,64 |
|
Inventory Turnover (days) |
129 |
58 |
98 |
143 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-4,40 |
2,42 |
5,40 |
16,41 |
|
Operating Profitability (%) |
6,08 |
5,20 |
9,93 |
17,23 |
|
Return on Equity (ROE) (%) |
-27,80 |
2,14 |
12,63 |
30,90 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.28 |
|
|
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.69.60 |
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 |
|
-- |
NB |
New Business |
-- |
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.