MIRA INFORM
REPORT
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Report Date : |
17.02.2011 |
IDENTIFICATION DETAILS
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Name : |
ROTATEK SA |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.01.1972 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
6,000,000 € |
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Status : |
Moderate |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Identification
Current Business
Name: ROTATEK SA
Commercial
Name:
Other
names: YES
Current
Address: AVENIDA GRAELLS, 39
08173 SANT CUGAT DEL
VALLES BARCELONA
Telephone number: 936745250 Fax: 936751902
URL: www.rotatek.com
Corpora
te e-mail: rotatek@rotatek.com
Trade Risk
Credit Appraisal: 82.000,00 €
Incidents: YES
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 14.177.235,48 €
(Trade Register)
Result: -78.222,07 €
Total Assets: 14.217.834,91 €
Social Capital: 1.807.008,00 €
Employees: 49
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 04/04/1979
Activity: Mfg. of machinery, mechanical
equipment
NACE 2009 CODE: 2849
International Operations: Imports and
Exports
Corporate Structure
President:
Participations: 3
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000 €)
Favourable to 82.000,00 €
Other Complementary Information
Latest act published in BORME: 25/11/2010 Annual Filed Accounts
Latest press article: 02/04/2008 EXPANSIÓN DE
CATALUÑA (FINANCIAL DATA)
Bank Entities: There are
The date when this report was last updated is 15/02/2011.
The information contained in this report has been investigated and
contrasted on 22/07/2010
Financial
Situation
Exercise:2009
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Treasury |
Limited |
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Indebtedness |
Bad |
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Profitability |
Null |
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Balance |
Degraded |
Performance
|
Incidents |
None or Negligible |
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Business
Trajectory |
Excellent |
Summary
LEGAL ACTIONS: 1 ( Last:05/01/2006 )
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Insolvency Proceeding: |
1 |
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Civil Court: |
0 |
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Social Courts: |
0 |
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ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY:
1 Company / Companies in Insolvency Proceedings.
Last Legal Actions
Figures expressed in €
INSOLVENCY PROCEEDING
There are 1 insolvency proceeding(s) registered
|
DATE |
CLAIM TYPE |
INCIDENCE STATUS |
ASSETS |
LIABILITIES |
|
05/01/2006 |
SUSPENSION OF PAYMENTS |
SUSPENSION AGREEMENT FULFILLED |
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Summary
COMPANY NOT REGISTERED IN ASNEF INDUSTRIAL
•
There are no information on the nif/cif provided in
the Asnef Industrial file
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.
Balance-sheet analysis
Figures given in €
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|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
8.115.305,30 |
57,08 |
8.817.464,96 |
55,37 |
8.062.297,86 |
47,10 |
||
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B) CURRENT ASSETS |
6.102.529,61 |
42,92 |
7.106.988,83 |
44,63 |
9.055.331,72 |
52,90 |
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LIABILITIES |
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A) NET WORTH |
5.846.752,24 |
41,12 |
7.447.059,45 |
46,76 |
7.322.606,96 |
42,78 |
||
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B) NON CURRENT LIABILITIES |
1.339.088,69 |
9,42 |
1.700.119,16 |
10,68 |
1.636.566,18 |
9,56 |
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C) CURRENT LIABILITIES |
7.031.993,98 |
49,46 |
6.777.275,18 |
42,56 |
8.158.456,44 |
47,66 |
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Balance Sheet Comments
Total assets of the company decreased in 10,72%
between 2.008 and 2.009.
This total assets decrease has been reflected in a reduction of non
current assets of 7,96%.
Assets reduction is explained by Net Worth decrease
of 21,49% and to indebtedness reduction of 1,25%.
Total assets of the company decreased in 6,97%
between 2.007 and 2.008.
In spite of the decrease in the amount of total assets, non current
assets grew 9,37%.
Assets reduction contrasts with net worth growth
of 1,70%. Therefore, the company’s indebtedness has reduced
in 13,45%.
Profit and Loss Account Analysis
Figures given in €
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|
31/12/2009 (12) |
% NET TURNOVER |
31/12/2008 (12) |
% NET TURNOVER |
31/12/2007 (12) |
% NET TURNOVER |
|
SALES |
14.177.235,48 |
|
16.931.137,04 |
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18.665.529,91 |
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GROSS MARGIN |
5.116.674,18 |
36,09 |
5.897.959,28 |
34,83 |
7.230.657,67 |
38,74 |
|
EBITDA |
564.730,05 |
3,98 |
363.893,34 |
2,15 |
936.446,19 |
5,02 |
|
EBIT |
210.465,91 |
1,48 |
126.036,26 |
0,74 |
714.203,38 |
3,83 |
|
NET RESULT |
-78.222,07 |
-0,55 |
124.452,49 |
0,74 |
357.234,64 |
1,91 |
|
EFFECTIVE TAX RATE (%) |
17,68 |
0,00 |
19,99 |
0,00 |
14,92 |
0,00 |
Profit and Loss Account Comments
The company’s sales figure decreased
in 16,27% between 2.008 and 2.009.
The company’s EBIT grew
in 66,99% between 2.008 and 2.009.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is an increase of the company’s Economic
Profitability of 74,24% in the analysed period, being equal
to 3,99% in the year 2.009.
The Net Result of the company decreased
in 162,85% 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 154,55% in the analysed period, being equal
to -1,14% in the year 2.009 .
The company’s sales figure decreased
in 9,29% between 2.007 and 2.008.
The company’s EBIT decreased
in 82,35% 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 54,11% in the analysed period, being this
profitability of 2,29% in the year 2.008.
The Net Result of the company decreased
in 65,16% between 2.007 and 2.008.
The company’s Financial Profitability has been positively 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 63,53% in the analysed period, being equal
to 2,09% in the year 2.008 .
Values table
Figures expressed in %
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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A) NON CURRENT ASSETS |
57,08 |
27,42 |
29,65 |
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A) CURRENT ASSETS |
42,92 |
72,58 |
-29,65 |
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LIABILITIES |
|||
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A) NET WORTH |
41,12 |
47,55 |
-6,42 |
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B) NON CURRENT LIABILITIES |
9,42 |
8,26 |
1,16 |
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C) CURRENT LIABILITIES |
49,46 |
44,19 |
5,27 |
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
88,84 |
97,64 |
-8,80 |
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GROSS MARGIN |
32,06 |
40,13 |
-8,07 |
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EBITDA |
3,54 |
7,03 |
-3,49 |
|
EBIT |
1,32 |
4,44 |
-3,12 |
|
NET RESULT |
-0,49 |
4,21 |
-4,70 |
Sector Composition
Compared sector (NACE 2009): 2849
Number of companies: 28
Size (Sales Figure): 7,000,000.00 - 40,000,000.00 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 29,65% .
In liabilities composition the company appeals on a smaller scale to
self financing, being the Net Worth proportion 6,42% inferior. As a
consequence, external financing sources are more used by the company
( 6,42% more than the sector) .
The proportion that the sales mean to the company’s total ordinary income
is 88,84% , an 8,80% lower than in the sector .
The company’s EBIT was positive and was 1,32% with regard to
the total ordinary income, 3,12% 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 (0,01 in comparison
with 0,05) .
The company’s net result was negative and equal to -0,49% with
regard to the total ordinary income, 4,70% inferior to the one of the
sector .
The financial results and the tax impact have had a negative impact on
the net result of the company with a worse behaviour that the one of the sector
.
Results Distribution
Source: annual financial report 2008
Figures given in €
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DISTRIBUTION BASE |
APPLICATION A |
||
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Profit and Loss |
124.452,49 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
124.452,49 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
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Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
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Total of Amounts to be distributed |
124.452,49 |
Dividends |
0,00 |
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Other Applications |
0,00 |
Business address
Current Legal Seat Address:
AVENIDA GRAELLS, 39
08173 SANT
CUGAT
Characteristics of the current address
Type of establishment: office
Owners: owned; with no official confirmation
Main Board members, Directors and Auditor
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POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
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PRESIDENT |
VIDAL CARRERA ELVIRA |
26/06/2006 |
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VICE-PRESIDENT |
BETES PERUGA JOSE |
26/06/2006 |
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MANAGING DIRECTOR |
RODRIGUEZ VIDAL BIBIANA |
26/06/2006 |
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SECRETARY |
LABASTIDA NICOLAU FERNANDO |
26/06/2006 |
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AUDITOR |
APPOINTMENT DATE |
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CASTELLA AUDITORS CONSULTORS SL |
07/09/2009 |
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Functional Managers
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POSITION |
NAME AND SURNAME |
|
General Manager |
RODRIGUEZ VIDAL BIBIANA |
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Financial Director |
ESCUDE CARRIO ALEXANDRE |
|
Commercial Director |
RODRIGUEZ VIDAL BIBIANA |
Shareholders
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
BETES PERUGA JOSE |
|
41,33 |
OWN SOURCES |
12/01/2010 |
|
VIDAL CARRERA ELVIRA |
|
33,71 |
OWN SOURCES |
12/01/2010 |
|
SOX 98 S.L. |
B61551164 |
24,79 |
OWN SOURCES |
12/01/2010 |
Participations
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|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|||||
|
TEKSA SA |
A08640401 |
46,00 |
OWN SOURCES |
03/01/2011 |
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RUBIGRAF S A |
A08840811 |
33,33 |
TRADE REG. |
31/12/2008 |
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MECANIZADOS Y MONTAJES
DEL VALLES SA |
A08876450 |
32,50 |
OWN SOURCES |
02/09/2010 |
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Constitution
Incorporation date: 04/04/1979
Origin / Foundation
Establishment date: 01/01/1972
Activity
Code: 1322400
Activity: Mfg. of machinery, mechanical equipment
NACE 2009 CODE: 2849
NACE 2009 Activity: Manufacture of other machine tools
Business: COMERCIALIZACION DE MAQUINAS Y ACCESORIOS PARA ARTES
GRAFICAS ASI COMO LA INVESTIGACION, ESTUDIO Y CONFECCION DE TALES MAQUINAS Y
ACCESORIOS.
Activity description: fabricación de impresoras rotativas y equipos complementarios.
Employees
Latest employees figure: 49 (2010)
Employee’s evolution
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COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 13%
Imports from: UE
SALES
Cash collections: 70%
Credit collections: 30%
Export Percentage: 95%
Exports to: UE
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
MEC. Y MONTAJES DEL
VALLES |
NO |
|
TEKSA SA |
NO |
|
RUBIGRAF SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
TEKSA SA |
NO |
|
MEC. Y MONTAJES DEL
VALLES |
NO |
Banks
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ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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MOLLET |
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BANCO SANTANDER, S.A. |
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SAN CUGAT DEL VALLÉS |
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CAIXA D’ESTALVIS DE
CATALUNYA,TARRAGONA I MANRESA |
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SAN CUGAT DEL VALLÉS |
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CAIXA D’ESTALVIS |
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SAN CUGAT DEL VALLÉS |
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CAJA DE AHORROS Y M.P. DE
MADRID |
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SAN CUGAT DEL VALLÉS |
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Brands
Brand name: ROTATEK ADVANCED PRINTING MACHINERY (Valid)
Type: JOINT Scope: NATIONAL Date: 27/07/2010
Brand name: ROTATEK (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 21/06/2007
Name:
Type: DENOMINATIVE Scope: NATIONAL
Date: 19/04/1996
Constitution
Data
Register Date: 04/04/1979
Current structure data
Legal form: Joint-stock Company
Social Capital: 1.807.008,00 €
Paid-up capital: 1.807.008,00 €
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: 38 (Last: 07/09/2009, first:
05/03/1991)
Acts on capital: 3 (Last: 24/02/2003, first: 13/10/2000)
Acts on creation: 0
Acts on filed accounts: 19 (Last: 25/11/2010, first:
02/03/1992)
Acts on identification: 1 (Last: 03/01/1994)
Acts on Information: 7 (Last: 26/06/2006, first:
26/02/1993)
Acts on proceedings: 3 (Last: 30/01/2006, first:
23/11/1993)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
07/09/2009 |
384433 |
|
|
Appointments |
20/02/2009 |
90827 |
|
|
Appointments |
09/05/2008 |
235461 |
|
|
Appointments |
07/09/2007 |
459297 |
|
|
Appointments |
11/07/2007 |
369195 |
|
|
Appointments |
06/02/2007 |
66694 |
|
|
Resignations |
10/01/2007 |
16030 |
|
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Modification of the Articles of Association |
26/06/2006 |
329513 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
25/11/2010 |
1102988 |
|
|
Annual Filed Accounts (2008) |
27/10/2009 |
766716 |
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Annual Filed Accounts (2007) consolidated |
29/10/2008 |
978669 |
|
PRESS ARTICLES
Press summary by type
of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 1 (Last: 01/03/2006)
Financial Information: 1 (Last: 02/04/2008)
Negative information: 0
Business lines: 0
Historical press releases: 4 (Last: 27/12/2002, first: 27/03/1993)
Latest press
article published
02/04/2008 EXPANSIÓN DE CATALUÑA - FINANCIAL
DATA
ROTATEK FACTURO
APROXIMADAMENTE 22 MM. DE EUROS EN 2007, UN 9% MAS QUE EL AÑO ANTERIOR. LA EMPRESA,
FUNDADA EN 1972, INVIERTE ANUALMENTE 1,3 MM. DE EUROS EN I+D+I, LO QUE SUPONE
UN 6% DE SU FACTURACION. LAS PREVISIONES PARA 2008 APUNTAN A UNAS VENTAS DE 28
MM. EL MERCADO DE ROTATEK ABARCA MAS DE 70 PAISES DE LOS CINCO CONTINENTES CON
MAS DE 1.500 EQUIPOS FUNCIONANDO EN TODO EL MUNDO. EN 2007, EL PRINCIPAL
CLIENTE FUE ALEMANIA, SEGUIDO DE FRANCIA E INDIA. EN LATINOAMERICA DESTACAN LOS
MERCADOS DE BRASIL Y MEXICO, MIENTRAS QUE EN EL CONTINENTE AFRICANO LO HACEN
NIGERIA Y GHANA. ROTATEK TAMBIEN VENDE EN AUSTRALIA. LA CIA. DESTINA EL 95% DE
SUS PRODUCTOS AL MERCADO EXTERIOR
01/03/2006 FOMENTO
DE LA PRODUCCIÓN - GENERAL INFORMATION
ROTATEK, EMPRESA FAMILIAR
DE SANT CUGAT DEL VALLES, ESTA ALCANZANDO LOS PRIMEROS PUESTOS DEL SECTOR DE
MAQUINARIA PARA ARTES GRAFICAS A NIVEL MUNDIAL. LA FIRMA, CUYO DIRECTOR GENERAL
ES JOSEP MARIA SOLER, QUIERE CONSOLIDAR LA ESTRUCTURA COMERCIAL INTERNACIONAL,
YA QUE LOS MERCADOS EXTERIORES REPRESENTAN EN TORNO AL 85% DE SU FACTURACION.
SUS PRINCIPALES DESTINOS SON FRANCIA, ALEMANIA, INDIA, ITALIA Y MEXICO, AUNQUE
OPERA TAMBIEN ESPORADICAMENTE EN CHINA. LAS VENTAS DE LA EMPRESA, PRESIDIDA POR
ELVIRA VIDAL, ASCENDIERON A 18 MM. DE EUROS EN 2005 CON LA PREVISION DE
ALCANZAR 22 MM. EN 2006. LA PLANTILLA DE ROTATEK ASCIENDE A 100
EMPLEADOS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
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 Company |
---- |
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.