MIRA INFORM
REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
NOKEN DESIGN SA |
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Registered Office : |
Carretera Villareal-Pueblo De Arenoso Cv 20 Onda ( |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.01.2001 |
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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 : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
1.061.000,00 € |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
Company name
NOKEN DESIGN SA
TAX NUMBER: A12556148
EXECUTIVE SUMMARY
Identification
Current Business Name: NOKEN DESIGN SA
Other names: YES
Current Address: CARRETERA VILLAREAL-PUEBLO DE
ARENOSO CV 20 ONDA (PUEBLA DE ARENOSO), KM 2
12540 VILA-REAL CASTELLÓN
Telephone number: 964506450 Fax: 964506793
URL: www.noken.com
Corporate e-mail: noken@noken.com
Trade Risk
Credit Appraisal: 1.061.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 29.604.138,43 €
(Trade Register)
Result: 78.676,72 €
Total Assets: 31.487.559,11 €
Social Capital: 76.000,00 €
Employees: 90
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 05/04/2001
Activity: Wholesale of construction materials :
glass
NACE 2009 CODE: 4673
International Operations: Imports
Corporate Structure
President:
COLONQUES
MORENO MANUEL MIGUEL
Parent Company:
Participations: 3
Other Complementary Information
Latest act published in BORME: 10/08/2010 Annual Filed Accounts
Latest press article: 15/10/2001 EXPANSIÓN (SHAREHOLDERS
AND HOLDINGS)
Bank Entities: There are
The date when this report was last updated is 24/12/2010.
The information contained in this report has been investigated and
contrasted on 19/05/2010
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 1.061.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Very low |
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Profitability |
Null |
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Balance |
Excellent |
Performance
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Incidents |
None or Negligible |
|
Business Trajectory |
Excellent |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
BANK AND BUSINESS DEFAULTS OF PAYMENT - ASNEF 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 €
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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 |
8.586.445,18 |
27,27 |
8.452.218,27 |
22,17 |
8.773.492,72 |
24,07 |
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B) CURRENT ASSETS |
22.901.113,93 |
72,73 |
29.672.321,52 |
77,83 |
27.672.075,26 |
75,93 |
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LIABILITIES |
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A) NET WORTH |
18.946.015,19 |
60,17 |
18.867.338,47 |
49,49 |
17.012.856,15 |
46,68 |
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B) NON CURRENT LIABILITIES |
7.448.885,70 |
23,66 |
12.134.652,32 |
31,83 |
11.354.495,41 |
31,15 |
|
C) CURRENT LIABILITIES |
5.092.658,22 |
16,17 |
7.122.549,00 |
18,68 |
8.078.216,42 |
22,17 |
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Balance Sheet Comments
Total assets of the company decreased in 17,41%
between 2.008 and 2.009.
In spite of the decrease in the amount of total assets, non current
assets grew 1,59%.
Assets reduction contrasts with net worth growth
of 0,42%. Therefore, the company’s indebtedness has reduced
in 34,87%.
Total assets of the company grew in 4,61% between 2.007 and 2.008.
In spite of the assets’ growth, non current assets decreased 3,66%.
This growth has been financed with a Net Worth increase
of 10,90%; this company’s net increase has also covered the reduction
of 0,90% of company’s indebtedness.
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 |
29.604.138,43 |
|
38.863.964,84 |
|
40.833.587,48 |
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GROSS MARGIN |
12.534.108,32 |
42,34 |
16.476.737,40 |
42,40 |
16.028.942,91 |
39,25 |
|
EBITDA |
1.516.029,28 |
5,12 |
4.999.228,65 |
12,86 |
7.097.879,63 |
17,38 |
|
EBIT |
386.196,78 |
1,30 |
3.988.448,58 |
10,26 |
6.284.864,60 |
15,39 |
|
NET RESULT |
78.676,72 |
0,27 |
2.219.282,32 |
5,71 |
3.786.199,70 |
9,27 |
|
EFFECTIVE TAX RATE (%) |
11,23 |
0,00 |
27,46 |
0,00 |
33,05 |
0,00 |
Profit and Loss Account Comments
The company’s sales figure decreased
in 23,83% between 2.008 and 2.009.
The company’s EBIT decreased
in 90,32% 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 78,64% in the analysed period, being this
profitability of 2,63% in the year 2.009.
The Net Result of the company decreased
in 96,45% 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 97,10% in the analysed period, being equal
to 0,47% in the year 2.009 .
The company’s sales figure decreased
in 4,82% between 2.007 and 2.008.
The company’s EBIT decreased
in 36,54% 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 33,82% in the analysed period, being this profitability
of 12,31% in the year 2.008.
The Net Result of the company decreased
in 41,38% 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 51,23% in the analysed period, being equal
to 16,21% in the year 2.008 .
COMPARATIVE SECTOR ANALYSIS
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 |
27,27 |
35,23 |
-7,96 |
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A) CURRENT ASSETS |
72,73 |
64,77 |
7,96 |
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LIABILITIES |
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A) NET WORTH |
60,17 |
41,63 |
18,54 |
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B) NON CURRENT LIABILITIES |
23,66 |
10,98 |
12,68 |
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C) CURRENT LIABILITIES |
16,17 |
47,39 |
-31,22 |
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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 |
97,58 |
98,88 |
-1,31 |
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GROSS MARGIN |
41,31 |
26,08 |
15,24 |
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EBITDA |
5,00 |
8,09 |
-3,09 |
|
EBIT |
1,27 |
5,72 |
-4,45 |
|
NET RESULT |
0,26 |
3,62 |
-3,36 |
Sector Composition
Compared sector (NACE 2009): 4673
Number of companies: 434
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 an
inferior proportion of non current assets. Specifically the difference with the
sector average is -7,96% .
In liabilities composition the company appeals on a wider scale to self
financing, being the proportion of Net Worth of 18,54% major. As a
consequence, external financing sources are less used by the company
( 18,54% less than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 97,58% , an 1,31% lower than in the sector .
The company’s EBIT was positive and was 1,27% with regard to
the total ordinary income, 4,45% 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 0,06) .
The company’s net result was positive and equal to 0,26% with
regard to the total ordinary income, -3,36% 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 €
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss |
78.676,72 |
Legal Reserve |
0,00 |
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Carry Over |
0,00 |
Voluntary Reserve |
78.676,72 |
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Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
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Reserves |
0,00 |
Carry Over |
0,00 |
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Other concepts |
0,00 |
Other funds |
0,00 |
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Total of Amounts to be distributed |
78.676,72 |
Dividends |
0,00 |
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Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: CONSULTORES Y AUDITORES
Auditing fees: 13.350,00 €
Facts subsequent to the closing
Source: Annual financial report 2009
Con posterioridad al cierre no se han producido hechos de relevancia que
requieran su inclusión en las cuentas anuales.
ADDRESSES
Current Legal Seat Address:
CARRETERA VILLAREAL-PUEBLO DE ARENOSO CV 20 ONDA (
12540 VILA-REAL CASTELLÓN
Previous Seat Address:
CARRETERA CV 185 BURRIANA (KM 63 2)
12540 VILLARREAL
CASTELLÓN
Characteristics
of the current address
Type of establishment: warehouse
Local Situation: secondary
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Main Board members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
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PRESIDENT |
COLONQUES |
22/04/2009 |
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VICE-PRESIDENT |
SORMAN SOCIEDAD ANONIMA |
18/06/2001 |
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MEMBER OF THE BOARD |
MESEGUER BASIERO JOSE |
22/04/2009 |
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AUDITOR |
APPOINTMENT DATE |
||
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CONSULTORES Y AUDITORES SA |
19/01/2004 |
||
There are 4 board members, directors and auditors registered
Board members remuneration
Source: Annual financial report 2009
Board members remuneration: 0,00 €
Functional Managers
|
POSITION |
NAME AND SURNAME |
|
General Manager |
MANA PABLO |
|
Financial Director |
DE MIGUEL OSCAR |
|
Operations Director |
DE MIGUEL OSCAR |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
|
B12722526 |
Major. |
OWN SOURCES |
19/05/2010 |
|
|
SORMAN SA |
A28799609 |
27,24 |
OWN SOURCES |
19/05/2010 |
There are 2 direct financial links through shareholders
registered
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BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PORCELANOSA SERVICES LTD |
|
24,30 |
TRADE REG. |
31/12/2009 |
|
|
PORCELANOSA GRUPO A.I.E. |
V12465118 |
12,50 |
TRADE REG. |
31/12/2009 |
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|
PORSAFIN GRUPO AIE. |
V12546800 |
4,23 |
TRADE REG. |
31/12/2009 |
CREDIT INFORMATION
Incorporation date: 05/04/2001
Establishment date: 01/01/2001
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO.
Activity
Activity: Wholesale of construction materials : glass
NACE 2009 CODE: 4673
NACE 2009 Activity: Wholesale of wood, construction materials
and sanitary equipment
Business: FABRICACION, COMPRAVENTA, IMPORTACION EXPORTACION
COMPLEMENTOS DE BANO. CONSTRUCCION, PROMOCION, COMPRAVENTA, ARRENDAMIENTO
EXCLUIDO LEASING DE FINCAS. CONSULTORIA EN AREAS DE FINANZAS, JURIDICA,
URBANISTICA, MARKETING,
Environmental information: YES (Page 48) Annual
financial report 2009
Employees
Latest employees figure: 90 (2010)
% of fixed employees: 93,48%
% of temporary employees: 6,52%
% of men: 95,65%
% of women: 4,35%
Employees evolution
|
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Employees distribution
Source: Annual financial report 2009
|
CATEGORY |
TOTAL PER CATEGORY |
MEN |
WOMEN |
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Distribución por sexo |
|
88 |
4 |
COMMERCIAL OPERATIONS
PURCHASES
Imports from: ITALIA
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
VILLARREAL |
|
|
BANCO DE SABADELL, S.A. |
|
|
VILLARREAL |
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BANCO SANTANDER, S.A. |
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VILLARREAL |
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There are 3 bank entities registered
Brand name: NOKEN (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 12/04/2005
Brand name: NK (Valid)
Type: JOINT Scope: NATIONAL Date: 26/04/2002
There are 2 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 05/04/2001
Register town: Castellón
Announcement number: 244640
Legal form: Joint-stock Company
Social Capital: 76.000,00 €
Paid-up capital: 76.000,00 €
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: 21 (Last: 22/04/2009, first:
18/06/2001)
Acts on capital: 0
Acts on creation: 1 (Last: 18/06/2001)
Acts on filed accounts: 9 (Last: 10/08/2010, first:
04/11/2002)
Acts on identification: 1 (Last: 04/04/2007)
Acts on Information: 3 (Last: 04/04/2007, first:
17/01/2002)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
22/04/2009 |
189903 |
Castellón |
|
Appointments |
22/04/2009 |
189902 |
Castellón |
|
Resignations |
22/04/2009 |
189902 |
Castellón |
|
Appointments |
01/10/2008 |
454534 |
Castellón |
|
Appointments |
25/02/2008 |
102039 |
Castellón |
|
Resignations |
22/02/2008 |
99208 |
Castellón |
|
Change of registered address |
04/04/2007 |
197130 |
Castellón |
|
Modification of the Articles of Association |
04/04/2007 |
197130 |
Castellón |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
10/08/2010 |
294631 |
Castellón |
|
Annual Filed Accounts (2008) |
20/10/2009 |
684405 |
Castellón |
|
Annual Filed Accounts (2007) |
03/09/2008 |
393650 |
Castellón |
There are 35 acts registered
PRESS ARTICLES
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 15/10/2001)
Latest press
article published
No press articles about this company have been loaded in the last 5
years, if you wish you can check the historical press releases (news with more
than 5 years)
There are 1 press articles registered for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.67 |
|
|
1 |
Rs.69.45 |
|
Euro |
1 |
Rs.59.37 |
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.