MIRA
INFORM REPORT
|
Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
FOSCO ZAPATOS Y ACCESORIOS SA |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.08.2005 |
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Date of Incorporation : |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Retail sale of footwear, leather and travel articles |
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 : |
230.000,00 € |
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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) |
|
|
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
FOSCO ZAPATOS Y ACCESORIOS SA
TAX NUMBER: A20221024
EXECUTIVE SUMMARY
Identification
Current Business Name: FOSCO ZAPATOS Y ACCESORIOS SA
Commercial Name: FOSCO
Other names: YES
Current Address: CALLE PAU CLARIS, 132 - PTA
5
Branches: 44
Telephone number: 932697700 Fax: 932697701
URL: www.fosco.es
Trade Risk
Credit Appraisal: 230.000,00 €
Incidents: NO
R.A.I.: NO
Bank and business defaults of payment -: NO
Financial Information
Balance sheet latest sales (2007): 27.197.000,00 € (Trade Register)
Result: -467.000 €
Total Assets: 33.450.000 €
Social Capital: 2.954.000,00 €
Employees: 196
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 10/06/1991
Activity: Retail sale of footwear, leather
& travel articles
NACE 2009 CODE: 4772
International Operations: No business relationships registered
Corporate Structure
President:
Parent Company:
Participations: 1
Other Complementary Information
Latest filed accounts published in the Mercantile Register: 2008
Type of Accounts available at the Mercantile Register: Individuals
Latest act published in BORME: 17/06/2010 Annual Filed Accounts
Latest press article: 23/02/2006 EL PERIODICO DE
EXTREMADURA (BRANCHES)
Bank Entities: There are
TRADE RISK
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 230.000,00 €
Financial Situation
Exercise:2007
|
Treasury |
Good |
|
Indebtedness |
Average |
|
Profitability |
Unfavourable |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
|
Summary
LEGAL ACTIONS: No legal actions
ADMINISTRATIVE CLAIMS: No administrative claims
AFFECTED BY: No significant element.
BANK AND BUSINESS
DEFAULTS OF PAYMENT - ASNEF INDUSTRIAL 
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
04/01/2011 10:01:23
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
Figures given in thousands €
|
|
31/08/2005 (12) BALANCE SHEET |
31/08/2006 (12) BALANCE SHEET |
31/08/2007 (12) BALANCE SHEET |
% ASSETS |
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BALANCE SHEET ANALYSIS |
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||
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NET WORTH |
7.173,00 |
8.412,00 |
7.917,00 |
23,67 |
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DEBT |
12.735,00 |
18.791,00 |
25.533,00 |
76,33 |
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|
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FIXED ASSETS |
5.403,00 |
6.030,00 |
3.821,00 |
11,42 |
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|
|
|
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TOTAL ASSETS |
19.908,00 |
27.203,00 |
33.450,00 |
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31/08/2005 (12) BALANCE SHEET |
31/08/2006 (12) BALANCE SHEET |
31/08/2007 (12) BALANCE SHEET |
% SALES |
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PROFIT AND LOSS ACCOUNT ANALYSIS |
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SALES |
25.094,00 |
27.277,00 |
27.197,00 |
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ADDED VALUE |
6.251,00 |
7.220,00 |
6.221,00 |
22,87 |
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EBITDA |
1.758,00 |
2.435,00 |
1.162,00 |
4,27 |
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EBIT |
249,00 |
1.037,00 |
-147,00 |
-0,54 |
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NET RESULT |
2.087,00 |
1.154,00 |
-467,00 |
-1,72 |
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COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2007) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
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BALANCE SHEET ANALYSIS: % on the total assets |
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NET WORTH |
23,67 |
42,95 |
-19,28 |
-44,89 |
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DEBT |
76,33 |
57,05 |
19,28 |
33,79 |
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FIXED ASSETS |
11,42 |
29,87 |
-18,45 |
-61,76 |
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COMPANY (2007) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income |
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SALES |
100,00 |
99,79 |
0,21 |
0,21 |
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ADDED VALUE |
22,87 |
25,42 |
-2,54 |
-10,01 |
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EBIT |
-0,54 |
7,40 |
-7,94 |
-107,30 |
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NET RESULT |
-1,72 |
4,82 |
-6,54 |
-135,62 |
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Sector Composition
Compared sector (NACE): 5243
Number of companies: 11
Size (Sales Figure): > 7,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2007
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss |
-467.000,00 |
Legal Reserve |
0,00 |
|
Carry Over |
0,00 |
Voluntary Reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
-467.000,00 |
|
Reserves |
0,00 |
Carry Over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
-467.000,00 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2007
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: DELOITTE S.L.
ADDRESSES
Current Legal Seat Address:
CALLE
08009
Previous Seat Address:
CALLE VIA LAIETANA 30
08003
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE GENERAL ALAVA, 11 |
01005 |
VITORIA-GASTEIZ |
Álava |
|
CALLE TESIFONTE GALLEGO, 13 |
02002 |
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CALLE MAJOR, 53 - PTDA. CARRUS 133 |
03194 |
ELCHE/ELX |
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CALLE ESTRASBURG, 6 |
08304 |
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CALLE SANTA ANNA, 4 |
08401 |
GRANOLLERS |
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AVENIDA VIA |
08174 |
SANT CUGAT |
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CALLE GENERAL SANTOCILDES, 5 |
09003 |
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CALLE ENMEDIO, 34 |
12001 |
CASTELLON |
Castellón |
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CALLE REAL, 27 |
15003 |
A CORUÑA |
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CALLE NOU, 8 |
17001 |
GIRONA |
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STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
POLIGONO INDUSTRIAL UGALDETXO CL OLAGARI, 1 |
20180 |
ELIZALDE |
Guipúzcoa |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Main Board members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
SANUY IGLESIAS MARIA ISABEL |
30/06/2008 |
|
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MEMBER OF THE BOARD |
FINANCIERE AGORA SA |
14/11/2005 |
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MEMBER OF THE BOARD |
EUROPENNE DE NEGOCE ANDRE SA |
14/11/2005 |
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MEMBER OF THE BOARD |
VIVARTE SAS |
30/06/2008 |
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AUDITOR |
APPOINTMENT DATE |
||
|
KPMG AUDITORES SL |
18/05/2010 |
||
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
VIVARTE MODA SA |
A20498820 |
100,00 |
OWN SOURCES |
15/01/2010 |
Majority shareholder of VIVARTE MODA SA
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
VIVARTE |
|
100,00 |
OWN SOURCES |
04/05/2009 |
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
FOSCO SAPATOS SA |
|
100,00 |
TRADE REG. |
31/08/2007 |
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
SERBILBAO A.I.E. (EXTINGUIDA) |
V20458626 |
100,00 |
B.O.R.M.E. |
26/11/2001 |
POTENTIAL LINKS
Search in the Internet Name
Search Criterion: "FOSCO SHOES AND
ACCESSORIES"
URL: www.zapatosconestilo.com
Stylish Shoes: Shop
online shoe and
accessories Fosco 18 May 2010 ... I was walking through
the website (shop.fosco.es)
and is excellent. It is not yet open to
... Tags: Fosco
Shoes and Accessories
...
URL: fashionvictimsbcn.blogspot.com
Fashion Victims Bcn:
Fosco on line
is coming soon
14 May 2010 ...
Fosco is coming
on line soon.
Fosco, shoes &
accessories, Was Born in
URL: www.lamaquinista.com
Machinist - Get all
the info on Fosco FOSCO Shoes
& Accessories. CONTACT | LEGAL | CREDITS. Menswear, womenswear,
travel agencies, welfare or apparatus, machines have been met ...
CREDIT INFORMATION
Incorporation date: 10/06/1991
Establishment date: 01/01/1946
Founder’s Name: FAMILIA
NACE 2009 CODE: 4772
NACE 2009 Activity: Retail sale of footwear and leather goods in
specialised stores
Business: VENTA AL MENOR DE CALZADOS Y ACCESORIOS
Latest employees figure: 196 (2010)
% of fixed employees: 89,80%
% of temporary employees: 10,20%
Employees evolution
|
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SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
VIVARTE SERCICES |
NO |
|
FOSCO SAPATOS SA |
YES |
|
VIVARTE MODA SAU |
NO |
|
ANDRE HONG-KONG |
YES |
|
FOSCO ZAPATOS SA |
NO |
|
ENA |
NO |
|
CEC |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
FOSCO SAPATOS SA |
YES |
|
ANDRE HONG-KONG |
YES |
|
FOSCO ZAPATOS SA |
NO |
|
VIVARTE MODA,
SAU |
NO |
|
HAC SUISSE |
NO |
|
VIVARTE SERVICES |
NO |
|
CEC |
YES |
|
POLSKA |
NO |
|
ANDRE SA |
NO |
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
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|
CAJA DE AHORROS Y PENSIONES DE |
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|
CAJA DE AHORROS Y M.P. DE GIPUZKOA Y |
0203 |
XENPELAR, 4 |
ERRENTERIA |
Guipúzcoa |
|
BANCO ESPAÑOL DE CREDITO, S.A. |
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|
Consultation
with the banks
next to the address sign, indicate that there are as customer informed.
FORMER NAMES:
•
ANBAO DISTRIBUCION SA
•
FOSCO SA
Brand name: FOSCO (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 09/07/2010
Brand name: MKL (Valid)
Type: JOINT Scope: NATIONAL Date: 24/04/2001
Brand name: TRA VIRGOLETTE (Valid)
Type: JOINT Scope: NATIONAL Date: 02/08/1999
Brand name: BUBUCHILD (Valid)
Type: JOINT Scope: NATIONAL Date: 02/08/1999
Brand name: SF FOSCO (Valid)
Type: JOINT Scope: NATIONAL Date: 25/06/1999
LEGAL STRUCTURE
Constitution Data
Register Date: 10/06/1991
Register town: Guipúzcoa
Announcement number: 242384
Legal form: Joint-stock Company
Social Capital: 2.954.000,00 €
Paid-up capital: 2.954.000,00 €
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: 44 (Last: 18/05/2010, first:
15/11/1991)
Acts on capital: 8 (Last: 02/09/2004, first:
26/12/1995)
Acts on creation: 1 (Last: 15/11/1991)
Acts on filed accounts: 17 (Last: 17/06/2010, first:
28/04/1992)
Acts on identification: 4 (Last: 02/09/2004, first:
28/10/1996)
Acts on Information: 2 (Last: 24/09/2003, first:
10/12/1996)
Acts on proceedings: 5 (Last: 24/06/2004, first:
07/03/1996)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
18/05/2010 |
197934 |
|
|
Resignations |
30/06/2008 |
323536 |
|
|
Appointments |
30/06/2008 |
323534 |
|
|
Appointments |
30/06/2008 |
323531 |
|
|
Resignations |
30/06/2008 |
323531 |
|
|
Appointments |
14/02/2007 |
87213 |
|
|
Appointments |
12/12/2006 |
591480 |
|
|
Resignations |
26/05/2006 |
271594 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2008) |
17/06/2010 |
208344 |
|
|
Annual Filed Accounts (2007) |
06/10/2008 |
761406 |
|
|
Annual Filed Accounts (2006) |
19/09/2007 |
560477 |
|
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 1 (Last: 23/02/2006)
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 11 (Last: 07/05/2004, first:
25/05/2001)
Latest press article published
23/02/2006 EL PERIODICO DE
EXTREMADURA - BRANCHES
TRADE, BUSINESS GROUP
ANDALUZ Dete, START
ON 02/03/2006 CONSTRUCTION
WORKS OF SAN
ROQUE BUSINESS PARK,
LOCATED IN THE
PLAN NORTH PART
OF THE ROUND.
THE PARK IS IN
COMMERCIAL 21,007 SQUARE FEET OF LAND, OF
THE AREA WILL BE
BUILT 10,500 SQUARE
METERS. ESTIMATES ARE THAT THE VARIOUS ESTABLISHMENTS TO
BE OPEN BEFORE PLACING end of this year. IN THIS NEW AREA IS TO IMPLEMENT
MERCADONA, SPRINTER, CASA, MERKALCALZADO,
DIA, LIDL AND OTHER
BRAND IS DEDICATED TO THE SALE OF CLOTHING, WHICH IS
LOCATED IN THE LAST REMAINING 1,500
square meters to be allocated.
07/05/2004 EXPANSIÓN - LEGAL ANNOUNCEMENTS
BOARD OF DIRECTORS OF
THIS SDAD. 03/05/2004
AGREED THE HEADQUARTERS
MOVE TO THE
C /
21/04/2004 EXPANSIÓN - LEGAL ANNOUNCEMENTS
The sole
member of Anba DISTRIBUTION SA agreed the day 02/27/2004 SOCIAL CHANGE THE NAME
OF THE COMPANY FOR THE SHOES AND ACCESSORIES SA Posco. ALSO REDUCES ITS CAPITAL
IN EUROS 904,100 THROUGH THE AMORTIZATION OF 9,041 SHARES. THE PURPOSE OF THE
REDUCTION, AFTER WHICH THE SHARE CAPITAL IS SET AT 797,000 EUROS IS RESTORING
THE BALANCE BETWEEN SOCIAL CAPITAL AND THE HERITAGE OF THE SDAD., DIMINISHED AS
A RESULT OF LOSS. ALSO EXTENDING SIMULTANEOUSLY 2,157,000 CAPITAL IN EUROS AND
ARE DETERMINED AT 2,954,000 EUROS.
19/03/2004 LA GACETA - BRANCHES
MARRQUINERIA
SIGNING AND ACCESSORIES FOSCO, has leased 1,000 square feet of offices on two
floors in LA CALLE PAU CLARIS 132, BUILDING INSURANCE PROPERTY Catalana
Occidente. FOSCO BE THE ONLY building occupants. TRANSFER FROM YOUR
27/02/2004 EXPANSIÓN - LEGAL ANNOUNCEMENTS
THE ONLY MEMBER
OF SOCIETY ANBA
DISTRIBUTION, SA (PARTLY SDAD. split)
Merkal SOCIETY AND
SHOES, SA (SDAD.
BENEFICIARY) AS OF 02/25/2004, AGREED partial
division of Anba DISTRIBUTION,
SA BY THE SEGREGATION OF A
PART OF YOUR
HERITAGE IN FAVOR OF SDAD. Merkal SHOES, SA AS A RESULT OF PARTIAL
EXCISION, ANBA DISTRIBUTION,
SA REDUCE YOUR
CAPITAL IN EUROS
AND SDAD 1,898,900.
Merkal SHOES, SA
INCREASES ITS CAPITAL IN EUROS 1,898,900.
FINANCIAL INFORMATION
The information on the last account contained in this report is
extracted from the Mercantile Register file of the legal address of the Company
and dated 11/09/2008.
BALANCE SHEET
Assets
Figures given in thousands €
|
|
31/08/2005 (12) |
31/08/2006 (12) |
31/08/2007 (12) |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
B) FIXED ASSETS |
5.403,00 |
6.030,00 |
3.821,00 |
|
I. Incorporation costs |
|
|
|
|
II. Intangible fixed assets |
276,00 |
663,00 |
564,00 |
|
R & D expenses |
|
5,00 |
|
|
Concessions, patents, licences , trademarks |
7,00 |
2,00 |
1,00 |
|
Acquired rights from finance leases |
1.615,00 |
2.066,00 |
2.066,00 |
|
Software |
426,00 |
442,00 |
459,00 |
|
Amortizations |
-1.772,00 |
-1.852,00 |
-1.962,00 |
|
III. Tangible fixed assets |
2.473,00 |
2.574,00 |
2.603,00 |
|
Other property plant and equipment |
8.369,00 |
9.662,00 |
9.868,00 |
|
Other assets |
496,00 |
56,00 |
530,00 |
|
Amortizations |
-6.392,00 |
-7.144,00 |
-7.795,00 |
|
IV. Financial fixed assets |
2.654,00 |
2.793,00 |
654,00 |
|
Shares in affiliated companies |
599,00 |
599,00 |
599,00 |
|
Receivables in affiliated companies |
2.189,00 |
2.189,00 |
|
|
Long term Securities portfolio |
2,00 |
|
|
|
Other loans |
|
1,00 |
1,00 |
|
Long term deposits and guarantees |
463,00 |
603,00 |
653,00 |
|
Provisions |
-599,00 |
-599,00 |
-599,00 |
|
V. Own Shares |
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
D) CURRENT ASSETS |
14.505,00 |
21.173,00 |
29.629,00 |
|
I. Shareholders by required outlays |
|
|
|
|
II. Stocks |
3.912,00 |
4.329,00 |
4.301,00 |
|
Goods available for sale |
4.969,00 |
5.616,00 |
5.711,00 |
|
Provisions |
-1.057,00 |
-1.287,00 |
-1.410,00 |
|
III. Debtors |
392,00 |
290,00 |
283,00 |
|
Clients |
74,00 |
79,00 |
66,00 |
|
Amounts owned by affiliated companies |
253,00 |
256,00 |
256,00 |
|
Other debts |
63,00 |
13,00 |
19,00 |
|
Government |
60,00 |
|
|
|
Provisions |
-58,00 |
-58,00 |
-58,00 |
|
IV. Temporary financial investment |
8.716,00 |
15.770,00 |
24.448,00 |
|
Receivables in affiliated companies |
8.502,00 |
15.770,00 |
24.448,00 |
|
Short term investment |
214,00 |
|
|
|
V. Short-term own shares |
|
|
|
|
VI. Treasury |
1.480,00 |
779,00 |
592,00 |
|
VII. Periodification adjustments |
5,00 |
5,00 |
5,00 |
|
TOTAL ASSETS (A + B + C + D) |
19.908,00 |
27.203,00 |
33.450,00 |
Liabilities
Figures given in thousands €
|
|
31/08/2005 (12) |
31/08/2006 (12) |
31/08/2007 (12) |
|
A) EQUITY |
7.173,00 |
8.327,00 |
7.860,00 |
|
I. Issued Capital |
2.954,00 |
2.954,00 |
2.954,00 |
|
II. Issue premium |
2.794,00 |
2.794,00 |
2.794,00 |
|
III. Revaluation reserve |
|
|
|
|
IV. Reserves |
|
1.425,00 |
2.579,00 |
|
Legal Reserve |
|
209,00 |
324,00 |
|
Statutory reserve |
|
1.216,00 |
2.255,00 |
|
V. Results from previous years |
-662,00 |
|
|
|
Prior years losses |
-662,00 |
|
|
|
VI. Profit and Losses |
2.087,00 |
1.154,00 |
-467,00 |
|
VII. Dividend paid during the year |
|
|
|
|
VIII. Own shares for capital reduction |
|
|
|
|
B) DEFERRED INCOME |
|
85,00 |
57,00 |
|
Other deferred income |
|
85,00 |
57,00 |
|
C) PROVISIONS FOR LI |
298,00 |
298,00 |
322,00 |
|
Other provisions |
298,00 |
298,00 |
322,00 |
|
D) LONG TERM LI |
22,00 |
22,00 |
22,00 |
|
I. Bonds issue and other negotiable values |
|
|
|
|
II. Debts with bank entities |
|
|
|
|
III. Debts with associated and affiliated companies |
|
|
|
|
IV. Other creditors |
22,00 |
22,00 |
22,00 |
|
Other debts |
|
22,00 |
11,00 |
|
Long term deposit and guaranties |
22,00 |
|
11,00 |
|
V. Deferred debts on shares |
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
E) SHORT TERM LI |
12.415,00 |
18.471,00 |
25.189,00 |
|
I. Bonds issue and other negotiable values |
|
|
|
|
II. Debts with bank entities |
|
|
|
|
III. Short term debts with associated and affiliated companies |
8.637,00 |
13.821,00 |
20.108,00 |
|
With affiliated companies |
8.637,00 |
13.821,00 |
20.108,00 |
|
IV. Trade creditors |
2.958,00 |
3.804,00 |
4.092,00 |
|
Expenses |
2.958,00 |
3.804,00 |
4.092,00 |
|
V. Other non-commercial debt |
820,00 |
846,00 |
989,00 |
|
Government |
424,00 |
474,00 |
605,00 |
|
Accounts receivable |
396,00 |
372,00 |
384,00 |
|
VI. Provisions for current assets |
|
|
|
|
VII. Periodification adjustments |
|
|
|
|
F) SHORT TERM PROVISIONS FOR LI |
|
|
|
|
LI |
19.908,00 |
27.203,00 |
33.450,00 |
PROFIT AND LOSS
ACCOUNT
Items of the Profit and Loss Account
Figures given in thousands €
|
|
31/08/2005 (12) |
31/08/2006 (12) |
31/08/2007 (12) |
|
A) EXPENSES (A.1 a A.16) |
23.827,00 |
26.977,00 |
29.238,00 |
|
A.1. Reduction in stocks of finished goods and work in progress |
|
|
|
|
A.2. Supplies |
12.653,00 |
13.363,00 |
12.673,00 |
|
Material consumed |
12.418,00 |
13.363,00 |
12.444,00 |
|
Raw materials consumed |
235,00 |
|
229,00 |
|
A.3. Labour cost |
4.493,00 |
4.785,00 |
5.059,00 |
|
Wages |
3.473,00 |
3.637,00 |
3.871,00 |
|
Social security expenses |
1.020,00 |
1.148,00 |
1.188,00 |
|
A.4. Assets Amortization |
1.202,00 |
1.168,00 |
1.186,00 |
|
A.5. Variance in the traffic provisions |
307,00 |
230,00 |
123,00 |
|
Variance in provision for inventory |
307,00 |
230,00 |
123,00 |
|
A.6. Other operating costs |
6.926,00 |
7.394,00 |
8.412,00 |
|
External costs |
6.827,00 |
7.264,00 |
8.212,00 |
|
Taxes |
92,00 |
127,00 |
179,00 |
|
Other day to day expenses |
7,00 |
3,00 |
21,00 |
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
249,00 |
1.037,00 |
|
|
A.7. Financial expenses and similar |
319,00 |
142,00 |
1.194,00 |
|
Debts with related companies |
319,00 |
142,00 |
1.194,00 |
|
A.8. Variation in financial investment provision |
|
|
|
|
A.9. Negative change difference |
|
|
|
|
A.II. POSITIVE FINANCIAL RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
|
|
227,00 |
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
6,00 |
984,00 |
80,00 |
|
A.10. Variation in provision in fixed assets |
|
|
19,00 |
|
A.11. Losses in fixed assets |
11,00 |
9,00 |
20,00 |
|
A.12. Losses from own shares and bonds |
|
|
|
|
A.13. Extraordinary charges |
58,00 |
136,00 |
786,00 |
|
A.14. Other exercises’ expenses and losses |
|
|
|
|
A.IV. POSITIVE EXTRAORDINARY RESULT
(B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14) |
|
|
|
|
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
|
904,00 |
|
|
A.15. Corporate Taxes |
-2.142,00 |
-250,00 |
-234,00 |
|
A.16. Other taxes |
|
|
|
|
A.VI. EXERCISE RESULT (PROFIT) (A.V-A.14-A.15) |
2.087,00 |
1.154,00 |
|
|
B) INCOMES (B.1 to B.13) |
25.914,00 |
28.131,00 |
28.771,00 |
|
B.1. Net Turnover |
25.094,00 |
27.277,00 |
27.197,00 |
|
Sales |
25.094,00 |
27.277,00 |
26.993,00 |
|
Services provided |
|
|
204,00 |
|
B.2. Increase in inventory of finished goods and works in progress |
658,00 |
647,00 |
109,00 |
|
B.3. Expenses capitalized |
|
|
|
|
B.4. Other operating income |
78,00 |
53,00 |
|
|
Other incomes |
78,00 |
53,00 |
|
|
B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5+A.6-B.1-B.2-B.3-B.4) |
|
|
147,00 |
|
B.5. Incomes from share participations |
|
|
|
|
B.6. Income from other securities and credits to fixed assets |
|
|
|
|
B.7. Other interests and similar |
76,00 |
89,00 |
1.421,00 |
|
From affiliated companies |
|
83,00 |
1.394,00 |
|
Other Interests |
76,00 |
6,00 |
27,00 |
|
B.8. Positive change difference |
|
|
|
|
B.II. NEGATIVE FINANCIAL RESULTS (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
243,00 |
53,00 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
B.9. B.9. Gains from disposal of fixed assets |
1,00 |
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
B.12. Extraordinary income |
7,00 |
65,00 |
44,00 |
|
B.13. Other year’s income and profits |
|
|
|
|
B.IV. NEGATIVE EXTRAORDINARY LOSSES
(A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
61,00 |
80,00 |
781,00 |
|
B.V. LOSS BEFORE TAXES (B.III+B.IV-A.III-A.IV) |
55,00 |
|
701,00 |
|
B.VI. EXERCISE RESULTS (LOSS) (B.V+A.14+A.15) |
|
|
467,00 |
FINANCIAL BALANCE
Here the Main Capital Amounts of the company and the Revolving Fund
Evolution are analysed.
Financial Balance Table
Figures given in thousands €
|
|
31/08/2005 (12) |
% |
31/08/2006 (12) |
% |
31/08/2007 (12) |
% |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
|
|
B) FIXED ASSETS |
5.403,00 |
27,14 |
6.030,00 |
22,17 |
3.821,00 |
11,42 |
|
C) DEFERRED EXPENSES |
|
|
|
|
|
|
|
D) CURRENT ASSETS |
14.505,00 |
72,86 |
21.173,00 |
77,83 |
29.629,00 |
88,58 |
|
TOTAL ASSETS (A + B + C + D) |
19.908,00 |
|
27.203,00 |
|
33.450,00 |
|
|
|
||||||
|
A) EQUITY |
7.173,00 |
36,03 |
8.327,00 |
30,61 |
7.860,00 |
23,50 |
|
B) DEFERRED INCOME |
|
|
85,00 |
0,31 |
57,00 |
0,17 |
|
C) PROVISIONS FOR LI |
298,00 |
1,50 |
298,00 |
1,10 |
322,00 |
0,96 |
|
D) LONG TERM LI |
22,00 |
0,11 |
22,00 |
0,08 |
22,00 |
0,07 |
|
E) SHORT TERM LI |
12.415,00 |
62,36 |
18.471,00 |
67,90 |
25.189,00 |
75,30 |
|
F) SHORT TERM PROVISIONS FOR LI |
|
|
|
|
|
|
|
LI |
19.908,00 |
|
27.203,00 |
|
33.450,00 |
|
RATIOS
Main Ratios
|
|
31/08/2005 (12) |
31/08/2006 (12) |
31/08/2007 (12) |
|
BALANCE RATIOS |
|||
|
Working Capital (€) |
2.090,00 |
2.702,00 |
4.440,00 |
|
Working capital ratio |
0,10 |
0,10 |
0,13 |
|
Working capital requirement (€) |
-8.106,00 |
-13.847,00 |
-20.600,00 |
|
Soundness Ratio |
1,33 |
1,38 |
2,06 |
|
External Funds on Equity |
1,78 |
2,23 |
3,22 |
|
Average collection period (days) |
6 |
4 |
4 |
|
Average payment period (days) |
56 |
68 |
70 |
|
LIQUIDITY RATIOS |
|||
|
Current ratio (%) |
116,83 |
114,63 |
117,63 |
|
Quick Ratio (%) |
82,13 |
89,59 |
99,41 |
|
Treasury (€) |
10.196,00 |
16.549,00 |
25.040,00 |
|
Sales on current assets (days) |
623 |
464 |
330 |
|
DEBT RATIOS |
|||
|
Borrowing Percentage (%) |
43,38 |
50,81 |
60,11 |
|
External Financing Average Cost |
0,04 |
0,01 |
0,06 |
|
Debt Service Coverage |
2,63 |
5,95 |
27,97 |
|
Interest Coverage |
0,78 |
7,30 |
-0,12 |
|
GENERAL ACTIVITY RATIOS |
|||
|
Auto financing generated by sales (%) |
13,11 |
8,51 |
2,64 |
|
Auto financing generated by Assets (%) |
16,52 |
8,54 |
2,15 |
|
Breakdown Point |
1,01 |
1,04 |
1,00 |
|
Average Sales Volume per Employee |
115,64 |
121,77 |
138,76 |
|
Average Cost per Employee |
20,70 |
21,36 |
25,81 |
|
Assets Turnover |
1,26 |
1,00 |
0,81 |
|
Inventory Turnover (days) |
117 |
123 |
123 |
|
Increase of the Sales Figures (%) |
23,77 |
8,70 |
-0,29 |
|
Added value growth (%) |
61,73 |
15,50 |
-13,84 |
|
Labour Productivity |
1,39 |
1,51 |
1,23 |
|
Cash flow (€) |
3.596,00 |
2.552,00 |
861,00 |
|
SOLVENCY RATIOS |
|||
|
Payback Capacity |
0,28 |
0,14 |
0,03 |
|
Assets Guarantee |
1,56 |
1,45 |
1,31 |
|
Short Term Debts Proportion (%) |
97,49 |
98,30 |
98,65 |
Results Analysis Ratios
|
|
31/08/2005 (12) |
31/08/2006 (12) |
31/08/2007 (12) |
|
Return on Assets (ROA) (%) |
1,25 |
3,81 |
-0,44 |
|
Return on Equity (ROE) (%) |
-0,77 |
10,86 |
-8,92 |
|
Operating Profitability (%) |
8,83 |
8,95 |
3,47 |
|
General Profitability (%) |
8,32 |
4,23 |
-1,72 |
|
Equity gearing |
0,07 |
3,07 |
-2,30 |
SECTORIAL ANALYSIS
Large Capital Amounts and Financial Balance
Figures given in %
|
|
COMPANY (2007) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
|
0,00 |
|
|
|
|
|
|
|
|
B) FIXED ASSETS |
11,42 |
29,87 |
-18,45 |
-61,77 |
|
|
|
|
|
|
C) DEFERRED EXPENSES |
|
0,01 |
|
|
|
|
|
|
|
|
D) CURRENT ASSETS |
88,58 |
70,12 |
18,46 |
26,32 |
|
|
|
|
|
|
TOTAL ASSETS (A + B + C + D) |
100 |
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2007) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
|
|
|
|
|
|
LI |
|
|
|
|
|
|
|
|
|
|
A) EQUITY |
23,50 |
42,86 |
-19,36 |
-45,17 |
|
|
|
|
|
|
B) DEFERRED INCOME |
0,17 |
0,09 |
0,08 |
93,18 |
|
|
|
|
|
|
C) PROVISIONS FOR LI |
0,96 |
0,17 |
0,79 |
478,31 |
|
|
|
|
|
|
D) LONG TERM LI |
0,07 |
2,81 |
-2,74 |
-97,51 |
|
|
|
|
|
|
E) SHORT TERM LI |
75,30 |
54,08 |
21,22 |
39,24 |
|
|
|
|
|
|
F) SHORT TERM PROVISIONS FOR LI |
|
0,00 |
|
|
|
|
|
|
|
|
LI |
100 |
100 |
|
|
|
|
|
|
|
Analytical Account of Results
Figures given in %
|
|
COMPANY (2007) |
SECTOR |
DIFFERENCE |
DIFFERENCE RELATIVE |
|
Net Turnover |
100,00 |
99,79 |
0,21 |
0,21 |
|
Other operating income |
|
0,21 |
|
|
|
Production Value |
100,00 |
100,00 |
0,00 |
0,00 |
|
Operating expenses |
46,20 |
55,98 |
-9,78 |
-17,47 |
|
Other operation expenses |
30,93 |
18,60 |
12,33 |
66,26 |
|
Added value |
22,87 |
25,42 |
-2,55 |
-10,02 |
|
Labour cost |
18,60 |
14,01 |
4,59 |
32,79 |
|
Gross Economic Result |
4,27 |
11,41 |
-7,14 |
-62,58 |
|
Assets Amortization |
4,36 |
3,60 |
0,76 |
20,94 |
|
Variation in provision for current assets
and bad debt losses |
0,45 |
0,40 |
0,05 |
11,39 |
|
Net Economic Result |
-0,54 |
7,40 |
-7,94 |
-107,30 |
|
Financial income |
5,22 |
0,23 |
4,99 |
2.130,77 |
|
Financial expenses |
4,39 |
0,70 |
3,70 |
531,65 |
|
Variation in financial investment
provision |
|
0,00 |
|
|
|
Ordinary Activities Result |
0,29 |
6,94 |
-6,65 |
-95,82 |
|
Extraordinary income |
0,16 |
0,38 |
-0,22 |
-57,89 |
|
Extraordinary charges |
2,96 |
0,40 |
2,56 |
645,59 |
|
Variation in provision in fixed assets |
0,07 |
0,02 |
0,05 |
204,35 |
|
Results before Taxes |
-2,58 |
6,90 |
-9,48 |
-137,40 |
|
Corporate taxes |
-0,86 |
2,08 |
-2,94 |
-141,39 |
|
Net Result |
-1,72 |
4,82 |
-6,54 |
-135,68 |
|
Assets Amortization |
4,36 |
3,60 |
0,76 |
20,94 |
|
Change of Provisions |
0,52 |
0,43 |
0,09 |
21,21 |
|
Net Self-Financing |
3,17 |
8,86 |
-5,69 |
-64,20 |
Main Ratios
|
|
COMPANY (2007) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
4.440,00 |
773,56 |
2.702,00 |
3.773,82 |
|
Working capital requirement (€) |
-20.600,00 |
-1.950,84 |
497,77 |
1.879,95 |
|
External Funds on Equity |
3,22 |
0,29 |
0,69 |
3,38 |
|
Average collection period (days) |
4 |
2 |
13 |
42 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Treasury (€) |
25.040,00 |
169,67 |
1.533,40 |
5.528,05 |
|
Sales on current assets (days) |
330 |
570 |
795 |
1.025 |
|
GENERAL ACTIVITY RATIOS |
|
|
|
|
|
Assets Turnover |
0,81 |
1,01 |
1,37 |
1,96 |
|
Increase of the Sales Figures (%) |
-0,29 |
6,86 |
8,70 |
16,41 |
|
Added value growth (%) |
-13,84 |
9,83 |
19,81 |
32,93 |
|
Labour Productivity |
1,23 |
1,39 |
1,55 |
2,13 |
|
Cash flow (€) |
861,00 |
674,87 |
984,89 |
2.552,00 |
|
SOLVENCY RATIOS |
|
|
|
|
|
Payback Capacity |
0,03 |
0,14 |
0,23 |
0,78 |
|
Assets Guarantee |
1,31 |
1,30 |
2,45 |
4,27 |
|
Short Term Debts Proportion (%) |
98,65 |
88,78 |
98,30 |
100,00 |
Results Analysis Ratios
|
|
COMPANY (2007) |
PTILE25 |
PTILE50 |
PTILE75 |
|
Return on Assets (ROA) (%) |
-0,44 |
3,81 |
7,49 |
11,82 |
|
General Profitability (%) |
-1,72 |
0,92 |
4,23 |
8,58 |
|
Equity gearing |
-2,30 |
1,14 |
1,54 |
2,86 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.59.79 |
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.