MIRA INFORM
REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ANTIBIOTICOS SA |
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Registered Office : |
Avenida Antibioticos, 59 – 61 24009 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
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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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
783.000,00 € |
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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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|
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
ANTIBIOTICOS SA
TAX NUMBER: A78975984
EXECUTIVE SUMMARY
Identification
Current Business Name: ANTIBIOTICOS SA
Other names: YES
Current Address: AVENIDA ANTIBIOTICOS, 59 -
61
Branches: 7
Telephone number: 987895800 Fax: 987895903
Trade Risk
Credit Appraisal: 783.000,00 €
Incidents: YES
R.A.I.: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 40.480.480,00 € (Trade Register)
Result: -12.622.150 €
Total Assets: 52.772.490 €
Social Capital: 1.411.730,00 €
Employees: 267
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 31/12/1988
Activity: Mfg. of basic pharmaceutical products
NACE 2009 CODE: 2110
International Operations: Imports and
Exports
Corporate Structure
Sole Administrator:
Parent Company:
Participations: 5
Other Complementary Information
Latest filed accounts published in the Mercantile Register: 2009
Type of Accounts available at the Mercantile Register: Individuals
Latest act published in BORME: 29/07/2010 Appointments
Latest press article: 23/10/2010 EL
ECONOMISTA (GENERAL INFORMATION)
Bank Entities: There are
The date when this report was last updated is 17/01/2011.
The information contained in this report has been investigated and
contrasted on 17/01/2011
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 783.000,00 €
Credit appraisal evolution
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Bad |
|
Profitability |
Very Negative |
|
Balance |
Very good |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Acceptable |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: 1 ( Last:02/07/2008 )
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With the Social Security: |
0 |
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With the Tax Authorities: |
0 |
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With Other Official bodies: |
1 |
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AFFECTED BY:
1 Company / Companies in Insolvency Proceedings.
Latest Administrative Claims
Figures expressed in €
WITH OTHER OFFICIAL BODIES
Seizures
|
DATE |
ORGANIZATION |
AMOUNT |
|
02/07/2008 |
TOWN/ CITY HALL DE SEVILLA |
|
There are 1 administrative claims with Other Official bodies registered
Detail of the Latest
Administrative Claims
Figures expressed in €
Seizures
WITH OTHER OFFICIAL BODIES
Phase: SEIZURE
Organization: TOWN/ CITY HALL DE SEVILLA
Concept: Other debts
Date of the claim: 02/07/2008
Source: Published in the Gazette of SEVILLA Appendix 13, on 20/08/2008, page
8.406
BANK AND BUSINESS DEFAULTS OF
PAYMENT - ASNEF INDUSTRIAL
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
10/01/2011 13:01:32
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 thousands €
|
|
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
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|
|
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A) NON CURRENT ASSETS |
28.716,63 |
54,42 |
72.680,15 |
59,16 |
33.656,41 |
26,86 |
|
B) CURRENT ASSETS |
24.055,86 |
45,58 |
50.166,96 |
40,84 |
91.644,24 |
73,14 |
|
LIABILITIES |
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|
|
|
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A) NET WORTH |
31.182,32 |
59,09 |
-10.631,98 |
-8,65 |
-5.954,34 |
-4,75 |
|
B) NON CURRENT LIABILITIES |
6.441,67 |
12,21 |
77.928,75 |
63,44 |
11.538,56 |
9,21 |
|
C) CURRENT LIABILITIES |
15.148,50 |
28,71 |
55.550,34 |
45,22 |
119.716,43 |
95,54 |
Profit and Loss
Account Analysis
Figures given in thousands €
|
|
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 |
40.480,48 |
|
69.263,70 |
|
61.646,29 |
|
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GROSS MARGIN |
20.761,83 |
51,29 |
32.877,95 |
47,47 |
36.977,29 |
59,98 |
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EBITDA |
1.184,71 |
2,93 |
649,83 |
0,94 |
-182,42 |
-0,30 |
|
EBIT |
-7.136,28 |
-17,63 |
-3.681,69 |
-5,32 |
-3.916,17 |
-6,35 |
|
NET RESULT |
-12.622,15 |
-31,18 |
-11.861,23 |
-17,12 |
-7.445,62 |
-12,08 |
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 |
54,42 |
44,08 |
10,33 |
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A) CURRENT ASSETS |
45,58 |
55,92 |
-10,33 |
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LIABILITIES |
|||
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A) NET WORTH |
59,09 |
59,30 |
-0,21 |
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B) NON CURRENT LIABILITIES |
12,21 |
8,34 |
3,86 |
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C) CURRENT LIABILITIES |
28,71 |
32,36 |
-3,66 |
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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 |
82,52 |
96,62 |
-14,09 |
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GROSS MARGIN |
42,33 |
54,23 |
-11,90 |
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EBITDA |
2,42 |
13,87 |
-11,45 |
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EBIT |
-14,55 |
8,88 |
-23,43 |
|
NET RESULT |
-25,73 |
6,90 |
-32,64 |
Sector Composition
Compared sector (NACE 2009): 211
Number of companies: 20
Size (Sales Figure): > 40,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2008
Figures given in €
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DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss |
-11.861.231,10 |
Legal Reserve |
0,00 |
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Carry Over |
0,00 |
Voluntary Reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
-11.861.231,10 |
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Reserves |
0,00 |
Carry Over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
-11.861.231,10 |
Dividends |
0,00 |
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|
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Other Applications |
0,00 |
company
ADDRESSES
Current Legal Seat Address:
AVENIDA ANTIBIOTICOS, 59 - 61
24009 LEON LEÓN
Previous Seat Address:
AVENIDA
28036
Characteristics of the current address
Type of establishment: office
Owners: rented
Local Situation: main
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
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AVENIDA REYES CATOLICOS, 34 |
09005 |
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AVENIDA ANTIBIOTICOS (ARMUNIA), 59 |
24192 |
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León |
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CALLE |
28027 |
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CALLE BRAVO MURILLO, 38 |
28015 |
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CALLE TROYA, 1 |
28022 |
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CALLE DOCTOR JIMENEZ DIAZ, 38 |
30008 |
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CALLE GOYA, 21 |
50620 |
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STREET |
POSTAL CODE |
TOWN |
PROVINCE |
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CALLE |
08130 |
SANTA PERPETUA DE MOGODA |
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CALLE ANTONIO LOPEZ, 111 |
28026 |
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There are 2 former branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Main Board members,
Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
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SOLE ADMINISTRATOR |
TENDENCIA POSITIVA SL |
07/05/2010 |
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AUDITOR |
APPOINTMENT DATE |
||
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PRICEWATERHOUSECOOPERS AUDITORES SL |
07/05/2010 |
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Functional Managers
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POSITION |
NAME AND SURNAME |
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Financial Director |
FUSTER ANTONIO |
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Human Resources Director |
RODRIGUEZ PEREZ MIGUEL ANGEL |
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Production Director |
GARCIA MARTIN JUAN CARLOS |
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IT Director |
ZUMEL JUAN PABLO |
FINANCIAL LINKS
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|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
CALIDAD EN LA ELABORACION SL. |
B98127814 |
100,00 |
OWN SOURCES |
15/07/2010 |
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BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
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|
|
100,00 |
TRADE REG. |
30/05/2003 |
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|
100,00 |
B.O.R.M.E. |
21/12/1995 |
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FIDIA FARMACEUTICI SPA |
|
100,00 |
B.O.R.M.E. |
07/05/2010 |
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BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
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ANTIBIOTICOS ERBA BIOCHIMICA HONG KONG LIMITED |
|
100,00 |
OWN SOURCES |
02/12/2008 |
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ANTIBIOTICOS GROUP |
|
60,00 |
OWN SOURCES |
02/12/2008 |
|
|
CONSORZIO SERV. GRUPPO |
|
1,59 |
OWN SOURCES |
02/12/2008 |
|
|
ADE CAPITAL SODICAL SOCIEDAD DE CAPITAL RIESGO DE REGIMEN COMUN SA |
A09033119 |
0,65 |
OWN SOURCES |
02/12/2008 |
|
|
CLUB FINANCIERO GENOVA Y BIMCOM |
G28494912 |
Indef. |
OWN SOURCES |
02/12/2008 |
|
|
BUSINESS NAME |
SHAREHOLDER |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
JOINT VENTURE QILU ANTIBIOTICOS PHARMACEUTICAL LTD CO |
ANTIBIOTICOS GROUP |
|
51,00 |
TRADE REG. |
31/12/2003 |
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
ANTIBIOTICOS INC. |
UNITED STATES |
100,00 |
TRADE REG. |
31/12/2003 |
|
PENIBERICA SA (EXTINGUIDA) |
A31003908 |
100,00 |
ANNUAL FINANCIAL REPORTS |
23/02/1994 |
|
ANTIBIOTICOS SPA |
|
100,00 |
TRADE REG. |
31/12/2003 |
POTENTIAL LINKS
Search for Link by
Administrator
Search Criterion: ”TENDENCIA POSITIVA SL”
|
COMPANY |
POSITION |
PROVINCE |
|
CALIDAD EN LA ELABORACION SL. |
Administrador único |
|
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”ANTIBIOTICOS SA”
URL: www.antibioticos-sa.com
Home | Antibióticos, S.A. (c) 2010 Antibióticos, S.A. is a company listed
among the world leading producers of Pharmaceutical Active Ingredients. Our
expertise lies both, on the fermentation ...
URL: es.wikipedia.org
Antibióticos
URL: www.einforma.com
ANTIBIOTICOS SA de
URL: goliath.ecnext.com
Antibioticos S.A. | Leon, Spain | Company Profile, Research, News ... Oct 20,
2010 ... Goliath’s Antibioticos S.A. Company Profile provides detailed company
information on Antibioticos
URL: www.elpais.com
El grupo italiano Montedison valora la compra de Antibióticos, SA ... 15 Feb 1987
... El grupo químico italiano Montedison valora la adquisición de la sociedad
farmacéutica espańola Antibióticos, SA, en 60.000 millones de ...
CREDIT INFORMATION
Incorporation date: 31/12/1988
Establishment date: 01/01/198
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity
Activity: Mfg. of basic pharmaceutical products
NACE 2009 CODE: 2110
NACE 2009 Activity: Manufacture of basic pharmaceutical products
Business: LA FABRICACION Y TRANSFORMACION, POR SI O POR
TERCEROS Y LA COMPRA, VENTA Y DISTRIBUCION DE PRODUCTOS QUIMICOS, QUIMICO
FARMACEUTICOS. FARMACEUTICOS, PARAFARMACEUTICOS, ETC.
Employees
Latest employees
figure: 267 (2009)
% of fixed
employees: 98,88%
% of temporary
employees: 1,12%
Employees evolution
|
|
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 5%
Imports from: Japón
SALES
Cash collections: 30%
Credit collections: 70%
Export Percentage: 80%
Exports to:
National Distribution: 20%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
ANTIBIOTIVCOS
SPA |
YES |
|
VITATENE SA |
NO |
|
SOLMAG SPA |
YES |
|
CERESTAR IBERICA
SL |
NO |
|
KOIPE SA
ALIMENTACION |
NO |
|
FIDIA
FARMACEUTICI SPA |
YES |
|
QILU ANTIBIOTICOS
PHARMACEUTICAL |
YES |
|
FICIA
FARMACEUTICI S.P.A (ITALIA) |
NO |
|
MOLTURACION Y
REFINO SA |
NO |
|
ANTIBIOTICOS INC |
YES |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
ANTIBIOTICOS SPA
(ITALIA) |
YES |
|
ANTIBIOTICOS SPA |
NO |
|
VITATENE SA |
NO |
|
VITATENE SAU |
NO |
|
CARLO ERBA
REACTIFS |
YES |
|
SHANGAI
ANTIBIOTICOS PIONEER PHARMACEUTICAL |
YES |
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
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|
|
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CAJA DE AHORROS Y PENSIONES DE |
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|
HSBC BANK PLC, S.E. |
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Grants
|
Body-entity: MINISTERIO
INDUSTRIA COMERCIO TURISMO Grant
type: To technology and innovation (IT, R&D, etc) Granting
Year: 2009 |
Nominal amount: 29.350,00 € Source:
ANNUAL FINANCIAL REPORTS (2009) |
|
|
|
|
Body-entity: MINISTERIO
INDUSTRIA COMERCIO TURISMO Grant
type: To technology and innovation (IT, R&D, etc) Granting
Year: 2009 |
Nominal amount:
88.780,00 € Source:
ANNUAL FINANCIAL REPORTS (2009) |
|
|
|
|
Body-entity: MINISTERIO
INDUSTRIA COMERCIO TURISMO Grant
type: To technology and innovation (IT, R&D, etc) Granting
Year: 2009 |
Nominal amount:
51.590,00 € Source:
ANNUAL FINANCIAL REPORTS (2009) |
Bank References
The bank entity with which it currently operates refuses to provide any
kind of information.
Brands
Brand name: ANTIBIOTICOS (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 15/02/2010
LEGAL
STRUCTURE
Constitution Data
Register Date: 31/12/1988
Legal form: Joint-stock Company
Social Capital: 1.411.730,00 €
Paid-up capital: 1.411.730,00 €
Legal Aspects
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES REGISTRY
GAZETTE)
· Acts on activity: 2 (Last: 07/01/1997, first: 30/07/1992)
· Acts on administrators: 251 (Last: 29/07/2010, first: 17/08/1990)
· Acts on capital: 4 (Last: 12/07/2007, first: 26/06/2006)
· Acts on creation: 0
· Acts on filed accounts: 35 (Last: 01/06/2010, first: 25/09/1990)
· Acts on identification: 2 (Last: 14/09/1999, first: 29/05/1995)
· Acts on Information: 22 (Last: 07/05/2010, first: 30/07/1992)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
29/07/2010 |
298210 |
León |
|
Appointments |
29/07/2010 |
298209 |
León |
|
Appointments |
07/05/2010 |
185061 |
León |
|
Officially cancelling of an appointment |
07/05/2010 |
185061 |
León |
|
Other concepts |
07/05/2010 |
185060 |
León |
|
Modification of the Articles of Association |
07/05/2010 |
185060 |
León |
|
Appointments |
07/05/2010 |
185060 |
León |
|
Resignations |
07/05/2010 |
185060 |
León |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
01/06/2010 |
193455 |
León |
|
Annual Filed Accounts (2008) consolidated |
06/10/2009 |
596674 |
León |
|
Annual Filed Accounts (2008) |
14/09/2009 |
412846 |
León |
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 0
Structural Data: 4 (Last: 23/10/2009, first: 29/09/2009)
Informative data: 14 (Last: 23/10/2010, first: 25/10/2006)
Financial Information: 5 (Last: 24/07/2010, first: 15/05/2008)
Negative information: 0
Business lines: 3 (Last: 22/08/2010, first: 21/01/2010)
Historical press releases: 59 (Last: 02/11/2005, first:
19/11/1992)
Latest press article published
23/10/2010 EL ECONOMISTA (Page 60) GENERAL
INFORMATION
ANTIBIÓTICOS no ha conseguido recuperar el pulso un ańo después de ser
comprada por ENERTHI. ANTIBIÓTICOS se encuentra prácticamente parada por la
falta de materias primas derivadas del retraso en el pago a proveedores, según
el sindicato USO, que denuncia además que los trabajadores tampoco están
cobrando sus nóminas a tiempo. Tras hacer su primera incursión en el sector
farmacéutico, ENERTHI comunicó la creación de 5 nuevas líneas de producción
dentro de un plan estratégico que preveía una inversión de 50 millones. Los
problemas que ENERTHI está encontrando para reflotar ANTIBIÓTICOS no parecen
amedrentarla y, ha comunicado la compra de ASTURPHARMA, en situación concursal.
22/08/2010 OTROS PRENSA - PRODUCTION DATA
ANTIBIÓTICOS prevé alcanzar en septiembre el 85% de su capacidad de
producción si se cumplen las previsiones. Así, la puesta en marcha de 2 plantas
de amoxicilina y el funcionamiento de 7 fermentadores (de los 8 posibles)
generará una carga de trabajo que permita lograr ese porcentaje productivo.
Según el presidente
24/07/2010 EL MUNDO DE CASTILLA Y
LEÓN (Page 11) FINANCIAL DATA
El diálogo que habían mantenido en las últimas semanas Junta de Castilla
y León y la cía. italiana ENERTHI, propietaria de ANTIBIOTICOS de León, está
roto. Así lo aseguró el director de la multinacional en Espańa, Pedro Ruiz. A
partir de ahora se plantearán la búsqueda de nuevas líneas de financiación para
así asegurar la viabilidad de la firma a la vez que puedan hacer frente a
futuras inversiones.
Mientras tanto, la empresa sigue sin trabajar al 100%, pese a que en los
últimos días ha aumentado considerablemente la producción porque se están
recibiendo nuevas materias primas con las que poder elaborar los
productos.
10/07/2010 EL
ECONOMISTA (Page 63) FINANCIAL DATA
El nuevo propietario de ANTIBIOTICOS, ENERTHI, no concreta su plan para
salvar la Cía. leonesa. Al menos, ése es el argumento que Junta y Ministerio
dan para justificar su negativa a facilitar vías de financiación a la empresa
que ENERTHI compró hace unos meses a la italiana SIR FIDIA. En enero, GRUPO
ENERTHI presentó a los sindicatos un plan de choque para los próximos 4 ańos,
en el que preveía una inversión de 50 millones y una política de
diversificación que pasaba por la puesta en el mercado de 4 nuevos productos.
El director de Desarrollo Corporativo, Pedro Ruiz, defiende la viabilidad
29/03/2010 EL MUNDO DE CASTILLA Y
LEÓN - PRODUCTION DATA
LA PLANTA QUIMICA FARMACEUTICA ANTIBIOTICOS DE
Complementary Information
Current situation
La sociedad surge
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 26/05/2010.
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 Trade Register, 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 thousands €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
28.716,63 |
54,42 |
72.680,15 |
59,16 |
33.656,41 |
26,86 |
|
I. Intangible assets |
33,54 |
0,06 |
140,68 |
0,11 |
1,06 |
0,00 |
|
7. Other intangible assets |
33,54 |
0,06 |
140,68 |
0,11 |
|
|
|
II. Tangible fixed assets |
28.231,26 |
53,50 |
31.189,57 |
25,39 |
33.167,31 |
26,47 |
|
1. Property, plant and equipment |
2.906,86 |
5,51 |
2.994,73 |
2,44 |
|
|
|
2. Technical fittings and other tangible assets |
24.591,12 |
46,60 |
27.803,05 |
22,63 |
|
|
|
3. Fixed assets in progress and advances |
733,28 |
1,39 |
391,79 |
0,32 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
|
|
40.898,07 |
33,29 |
35,31 |
0,03 |
|
1. Net worth instruments |
|
|
35,31 |
0,03 |
35,31 |
0,03 |
|
2. Credits to companies |
|
|
40.862,76 |
33,26 |
|
|
|
V. Long Term Financial Investments |
451,83 |
0,86 |
451,83 |
0,37 |
452,73 |
0,36 |
|
1. Net worth instruments |
|
|
|
|
331,63 |
0,26 |
|
5. Other financial assets |
451,83 |
0,86 |
451,83 |
0,37 |
121,10 |
0,10 |
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
24.055,86 |
45,58 |
50.166,96 |
40,84 |
91.644,24 |
73,14 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
11.148,86 |
21,13 |
22.195,67 |
18,07 |
20.454,77 |
16,32 |
|
2. Raw material inventory |
2.401,77 |
4,55 |
5.317,22 |
4,33 |
|
|
|
3. Work in Progress |
2.170,11 |
4,11 |
2.997,01 |
2,44 |
|
|
|
b) Short production cycle |
2.170,11 |
4,11 |
2.997,01 |
2,44 |
|
|
|
4. Finished goods |
6.576,98 |
12,46 |
13.881,44 |
11,30 |
|
|
|
b) Short production cycle |
6.576,98 |
12,46 |
13.881,44 |
11,30 |
|
|
|
III. Trade Debtors and other receivable accounts |
12.305,22 |
23,32 |
21.831,08 |
17,77 |
25.886,37 |
20,66 |
|
1. Clients |
7.277,75 |
13,79 |
18.514,05 |
15,07 |
21.372,19 |
17,06 |
|
b) Clients for sales and short term services
rendering |
7.277,75 |
13,79 |
18.514,05 |
15,07 |
|
|
|
2. Clients group and associated companies |
|
|
2.575,00 |
2,10 |
2.221,06 |
1,77 |
|
3. Other debts |
4.764,25 |
9,03 |
140,03 |
0,11 |
306,12 |
0,24 |
|
5. Assets by current taxes |
0,15 |
0,00 |
0,12 |
0,00 |
|
|
|
6. Other credits with the Public Administrations |
263,07 |
0,50 |
601,88 |
0,49 |
1.987,00 |
1,59 |
|
IV. Short term investments in associated and affiliated companies |
104,80 |
0,20 |
|
|
44.175,29 |
35,26 |
|
2. Credits to companies |
104,80 |
0,20 |
|
|
44.175,29 |
35,26 |
|
V. Short term financial investments |
1,00 |
0,00 |
2,64 |
0,00 |
|
|
|
5. Other financial assets |
1,00 |
0,00 |
2,64 |
0,00 |
|
|
|
VI. Short term periodifications |
20,75 |
0,04 |
64,08 |
0,05 |
47,00 |
0,04 |
|
VII. Cash and equivalents |
475,23 |
0,90 |
6.073,49 |
4,94 |
1.080,81 |
0,86 |
|
1. Treasury |
475,23 |
0,90 |
6.073,49 |
4,94 |
1.080,81 |
0,86 |
|
TOTAL ASSETS (A + B) |
52.772,49 |
100,00 |
122.847,11 |
100,00 |
125.300,65 |
100,00 |
Alerts associated to the conversion to PGC2007
The
valuation norms applicable to financial instruments has changed substantially and,
for this reason the conversion of financial statements from PGC90 to PGC2007
could include notable inaccuracy.
In
the conversion process there has been estimated that the total item 124080 “Provisions”
according to PGC90 is associated to “Net Worth Instruments”.
In
the conversion process there has been estimated that the total item 143070
“Provisions on debtors” according to PGC90, for %1, is associated to “Clients
for sales and services rendering”.
In
the conversion process there has been estimated that the total debit balance
with the Public Administrations in the Financial Statements of the previous
exercise corresponds to the balances collected in the item “Other credits with
the Public Administrations” under PGC2007.
In
the conversion process there has been estimated that the total item 144080
“Provisions” according to PGC90 is associated to “Net Worth Instruments”.
Net Worth and
Liabilities
Figures given in thousands €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
31.182,32 |
59,09 |
-10.631,98 |
-8,65 |
-5.954,34 |
-4,75 |
|
A-1) Equity |
30.057,58 |
56,96 |
-10.894,08 |
-8,87 |
-6.032,85 |
-4,81 |
|
I. Capital |
1.411,73 |
2,68 |
1.411,73 |
1,15 |
1.411,73 |
1,13 |
|
1. Authorized capital |
1.411,73 |
2,68 |
1.411,73 |
1,15 |
1.411,73 |
1,13 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
1,04 |
0,00 |
1,04 |
0,00 |
1,04 |
0,00 |
|
2. Other funds |
1,04 |
0,00 |
1,04 |
0,00 |
1,04 |
0,00 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
-616,81 |
-1,17 |
-445,62 |
-0,36 |
|
|
|
2. (Prior years losses) |
-616,81 |
-1,17 |
-445,62 |
-0,36 |
|
|
|
VI. Other loans from partners |
41.883,77 |
79,37 |
|
|
|
|
|
VII. Exercise Result |
-12.622,15 |
-23,92 |
-11.861,23 |
-9,66 |
-7.445,62 |
-5,94 |
|
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 |
1.124,74 |
2,13 |
262,10 |
0,21 |
78,51 |
0,06 |
|
B) NON CURRENT LIABILITIES |
6.441,67 |
12,21 |
77.928,75 |
63,44 |
11.538,56 |
9,21 |
|
I. Long term provisions |
733,74 |
1,39 |
10.425,73 |
8,49 |
10.527,48 |
8,40 |
|
4. Other provisions |
733,74 |
1,39 |
10.425,73 |
8,49 |
10.527,48 |
8,40 |
|
II. Long term debts |
5.676,17 |
10,76 |
544,04 |
0,44 |
744,54 |
0,59 |
|
5. Other financial liabilities |
5.676,17 |
10,76 |
544,04 |
0,44 |
744,54 |
0,59 |
|
III. Long term debts with associated and affiliated companies |
|
|
66.891,51 |
54,45 |
|
|
|
IV. Liabilities by deferred taxes |
31,76 |
0,06 |
67,47 |
0,05 |
33,65 |
0,03 |
|
V. Long term periodifications |
|
|
|
|
232,89 |
0,19 |
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
15.148,50 |
28,71 |
55.550,34 |
45,22 |
119.716,43 |
95,54 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
3.758,55 |
7,12 |
7.509,53 |
6,11 |
20.770,84 |
16,58 |
|
2. Debts with bank entities |
1.397,68 |
2,65 |
7.313,70 |
5,95 |
20.770,84 |
16,58 |
|
5. Other financial liabilities |
2.360,87 |
4,47 |
195,83 |
0,16 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
27.685,88 |
22,54 |
|
|
|
V. Trade creditors and other payable accounts |
11.389,95 |
21,58 |
20.354,93 |
16,57 |
98.945,59 |
78,97 |
|
1. Suppliers |
5.119,38 |
9,70 |
12.050,01 |
9,81 |
18.351,63 |
14,65 |
|
b) Short term suppliers |
5.119,38 |
9,70 |
12.050,01 |
9,81 |
|
|
|
2. Suppliers group and associated companies |
|
|
5.980,20 |
4,87 |
80.075,25 |
63,91 |
|
3. Different creditors |
4.851,63 |
9,19 |
1.165,57 |
0,95 |
|
|
|
4. Staff (pending remunerations) |
577,35 |
1,09 |
595,37 |
0,48 |
|
|
|
6. Other debts with Public Administrations |
841,59 |
1,59 |
563,78 |
0,46 |
518,71 |
0,41 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
52.772,49 |
100,00 |
122.847,11 |
100,00 |
125.300,65 |
100,00 |
Alerts associated to the conversion to PGC2007
The
valuation norms applicable to Taxes collected in the chapter “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 maintains in the mentioned
exercise “Other provisions” for %1.
In
the conversion process there has been made the assumption that the creditors
balance with the group and associated companies have a financial and not
commercial character.
In
the conversion process there has been made the assumption that the creditors
balance with the group and associated companies have a commercial and not
financial character.
In
the conversion process it has not been possible to breakdown the composition of
liabilities originated by debts with the public administrations; for this
reason the mentioned amounts are presented fully aggregated in the item “other
debts with the public administrations”
PROFIT AND LOSS
ACCOUNT
Figures given in thousands €
|
|
31/12/2009 (12) |
%OP. EXPEN. |
31/12/2008 (12) |
%OP. EXPEN. |
31/12/2007 (12) |
%OP. EXPEN. |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
40.480,48 |
82,52 |
69.263,70 |
94,21 |
61.646,29 |
94,51 |
|
A) Sales |
40.480,48 |
82,52 |
69.263,70 |
94,21 |
61.646,29 |
94,51 |
|
2. Variation in stocks of finished goods and work in progress |
-8.131,36 |
-16,58 |
1.263,45 |
1,72 |
8.816,66 |
13,52 |
|
3. Works for its own assets |
37,40 |
0,08 |
134,65 |
0,18 |
118,63 |
0,18 |
|
4. Supplies |
-20.159,96 |
-41,10 |
-41.903,86 |
-57,00 |
-37.064,35 |
-56,83 |
|
b) Raw materials consumed |
-17.244,51 |
-35,15 |
-42.381,31 |
-57,65 |
-38.055,44 |
-58,34 |
|
d) Deterioration on merchandises, raw materials and other supplies |
-2.915,45 |
-5,94 |
477,45 |
0,65 |
991,09 |
1,52 |
|
5. Other operating income |
8.535,27 |
17,40 |
4.120,01 |
5,60 |
3.460,06 |
5,30 |
|
a) Other incomes |
7.441,15 |
15,17 |
3.308,63 |
4,50 |
2.320,69 |
3,56 |
|
b) Operating grants included in the exercise result |
1.094,12 |
2,23 |
811,38 |
1,10 |
1.139,37 |
1,75 |
|
6. Labour cost |
-11.113,91 |
-22,66 |
-13.815,78 |
-18,79 |
-13.192,87 |
-20,23 |
|
a) Wages and similar expenses |
-8.810,86 |
-17,96 |
-10.815,94 |
-14,71 |
|
|
|
b) Social costs |
-2.303,05 |
-4,70 |
-2.999,84 |
-4,08 |
|
|
|
7. Other operating costs |
-13.259,46 |
-27,03 |
-19.102,60 |
-25,98 |
-22.756,75 |
-34,89 |
|
a) External services |
-10.276,50 |
-20,95 |
-18.135,44 |
-24,67 |
-14.580,76 |
-22,35 |
|
b) Taxes |
-1.142,65 |
-2,33 |
-730,56 |
-0,99 |
-710,99 |
-1,09 |
|
c) Losses, deterioration and variation on business operations
provisions |
-1.840,31 |
-3,75 |
-236,60 |
-0,32 |
-11,24 |
-0,02 |
|
d) Other day to day expenses |
|
|
|
|
-7.453,76 |
-11,43 |
|
8. Amortization of fixed assets |
-3.910,99 |
-7,97 |
-4.572,37 |
-6,22 |
-4.700,16 |
-7,21 |
|
9. Allocation of subventions on non financial investments and other |
11,89 |
0,02 |
27,94 |
0,04 |
|
|
|
10. Provisions excess |
352,50 |
0,72 |
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
-151,92 |
-0,31 |
|
|
-243,68 |
-0,37 |
|
a) Deteriorations and losses |
-6,74 |
-0,01 |
|
|
-13,44 |
-0,02 |
|
b) Results for disposals and others |
-145,18 |
-0,30 |
|
|
-230,24 |
-0,35 |
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
173,78 |
0,35 |
903,17 |
1,23 |
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
-7.136,28 |
-14,55 |
-3.681,69 |
-5,01 |
-3.916,17 |
-6,00 |
|
14. Financial income |
1.758,85 |
3,59 |
2.747,64 |
3,74 |
2.052,60 |
3,15 |
|
b) From negotiable values and other financial instruments |
1.758,85 |
3,59 |
2.747,64 |
3,74 |
1.980,36 |
3,04 |
|
b 1) From group and associated companies |
|
|
2.657,12 |
3,61 |
1.980,36 |
3,04 |
|
b 2) From third parties |
1.758,85 |
3,59 |
90,52 |
0,12 |
|
|
|
c) Allocation of financial legacies, grants and subventions |
|
|
|
|
72,24 |
0,11 |
|
15. Financial expenses |
-3.619,61 |
-7,38 |
-5.862,14 |
-7,97 |
-4.687,64 |
-7,19 |
|
a) For debts with associated and affiliated companies |
|
|
-5.470,50 |
-7,44 |
-1.445,70 |
-2,22 |
|
b) For debts with third parties |
-3.619,61 |
-7,38 |
-391,64 |
-0,53 |
-3.241,94 |
-4,97 |
|
16. Reasonable value variation on financial instruments |
|
|
130,84 |
0,18 |
|
|
|
a) Negotiation portfolio and others |
|
|
130,84 |
0,18 |
|
|
|
17. Exchange differences |
67,47 |
0,14 |
1.594,40 |
2,17 |
-894,41 |
-1,37 |
|
18. Deterioration and result for disposal of financial instruments |
-3.692,58 |
-7,53 |
-6.790,28 |
-9,24 |
|
|
|
a) Deteriorations and losses |
|
|
-6.790,28 |
-9,24 |
|
|
|
b) Results for disposals and others |
-3.692,58 |
-7,53 |
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-5.485,87 |
-11,18 |
-8.179,54 |
-11,13 |
-3.529,45 |
-5,41 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-12.622,15 |
-25,73 |
-11.861,23 |
-16,13 |
-7.445,62 |
-11,42 |
|
20. Taxes on profits |
|
|
|
|
|
|
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-12.622,15 |
-25,73 |
-11.861,23 |
-16,13 |
-7.445,62 |
-11,42 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-12.622,15 |
-25,73 |
-11.861,23 |
-16,13 |
-7.445,62 |
-11,42 |
Alerts associated to the conversion to PGC2007
The
Valuation norms applicable to 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
valuation norms applicable to extraordinary results and other exercises ones
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 deteriorations and results for assets disposal
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 deteriorations and results for assets disposal
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. In the conversion process there have been made the
following assumptions: 1) the total “gains from disposal of fixed assets”
corresponds with results for disposal of fixed assets and not of financial
instruments. 2) no sale of non functional assets derived from discontinued
operations has taken place.
Valuation
norms applicable to Financial instruments collected in PGC2007 present notable
changes with respect to PGC90. As a consequence, the conversion of the financial
statements of the accounts to PGC2007, carried out considering mainly
classification changes in the accounts might contain certain inaccuracies.
In
the financial statements conversion process of the accounts formulation
exercise to PGC2007 it could not be identified the amount of discounts on
purchases for prompt payment that under PGC2007 are registered reducing
purchases and not as a financial income.
In
the financial statements conversion process of the accounts formulation exercise
to PGC2007 it could not be identified the amount of discounts on sales for
prompt payment that under PGC2007 are registered reducing sales and not as a
financial expense.
NET WORTH CHANGES STATUS
Status of
recognized income and expenses
Figures given in thousands €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-12.622,15 |
-11.861,23 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
|
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
1.556,61 |
|
|
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) |
1.556,61 |
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
-83,03 |
|
2. Other income / expenses |
|
-83,03 |
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
-693,97 |
-93,57 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
|
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
-693,97 |
-176,60 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-11.759,51 |
-12.037,83 |
Total net worth changes status
Figures given in thousands €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
RESULTS FROM PREVIOUS YEARS |
OTHER LOANS FROM PARTNERS |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
|
|
|
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) |
1.411,73 |
84,07 |
|
|
|
I. Total recognized income and expenses |
|
-83,03 |
|
|
|
II. Operations with partners or owners |
|
|
7.000,00 |
|
|
7. Other operations with partners or owners |
|
|
7.000,00 |
|
|
III. Other net worth variations |
|
|
-7.445,62 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
1.411,73 |
1,04 |
-445,62 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
1.411,73 |
1,04 |
-445,62 |
|
|
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) |
1.411,73 |
1,04 |
-445,62 |
|
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
11.690,04 |
41.883,77 |
|
3. Conversion of financial liabilities in net worth (bonds conversion,
debts writing off) |
|
|
|
41.883,77 |
|
7. Other operations with partners or owners |
|
|
11.690,04 |
|
|
III. Other net worth variations |
|
|
-11.861,23 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
1.411,73 |
1,04 |
-616,81 |
41.883,77 |
|
NET
WORTH CHANGES ( 3 /3) |
EXERCISE RESULT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
|
|
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) |
-7.445,62 |
355,67 |
-5.594,15 |
|
I. Total recognized income and expenses |
-11.861,23 |
-93,57 |
-12.037,83 |
|
II. Operations with partners or owners |
|
|
7.000,00 |
|
7. Other operations with partners or owners |
|
|
7.000,00 |
|
III. Other net worth variations |
7.445,62 |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-11.861,23 |
262,10 |
-10.631,98 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-11.861,23 |
262,10 |
-10.631,98 |
|
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) |
-11.861,23 |
262,10 |
-10.631,98 |
|
I. Total recognized income and expenses |
-12.622,15 |
862,64 |
-11.759,51 |
|
II. Operations with partners or owners |
|
|
53.573,81 |
|
3. Conversion of financial liabilities in net worth (bonds conversion,
debts writing off) |
|
|
41.883,77 |
|
7. Other operations with partners or owners |
|
|
11.690,04 |
|
III. Other net worth variations |
11.861,23 |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-12.622,15 |
1.124,74 |
31.182,32 |
CASH FLOW STATUS
Figures given in thousands €
|
|
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
1. exercise result before taxes |
-12.622,15 |
-11.861,23 |
|
2. Results adjustments |
9.653,88 |
14.725,26 |
|
a) Amortization of fixed assets (+) |
3.910,99 |
4.572,37 |
|
b) Value correction for deterioration (+/-) |
-9.772,55 |
6.790,28 |
|
c) Change of Provisions (+/-) |
703,42 |
7,96 |
|
d) Grants allocation (-) |
-510,95 |
-27,94 |
|
e) Results for decline and disposal of fixed assets (+/-) |
13.462,21 |
|
|
g) Financial income (-) |
-1.758,85 |
-2.747,64 |
|
f) Financial expenses (+) |
3.619,61 |
6.363,12 |
|
k) Other income and expenses (-/+) |
|
-232,89 |
|
3. Changes in current capital |
43,58 |
8.204,79 |
|
a) Stocks (+/-) |
11.046,81 |
-1.740,90 |
|
b) Debtors and other receivable accounts (+/-) |
8.903,00 |
2.670,29 |
|
c) Other current assets (+/-) |
-59,83 |
1.365,28 |
|
d) Creditors and other payable accounts (+/-) |
-8.964,98 |
-4.033,60 |
|
e) Other current liabilities (+/-) |
-31.436,86 |
-3.196,97 |
|
f) Other non-current assets and liabilities (+/-) |
20.555,44 |
13.140,69 |
|
4. Other cash flow coming from operating activities |
-1.860,76 |
-3.615,48 |
|
a) Interests payments (-) |
-3.619,61 |
-6.363,12 |
|
c) Interests collections (+) |
1.758,85 |
2.747,64 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
-4.785,45 |
7.453,34 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-14.561,81 |
-9.494,62 |
|
a) Group and associated companies |
-13.458,19 |
-6.900,00 |
|
b) Intangible assets |
-35,90 |
|
|
c) Tangible assets |
-1.067,72 |
-2.594,62 |
|
7. Disinvestment collections (+) |
644,69 |
0,90 |
|
a) Group and associated companies |
28,08 |
|
|
b) Intangible assets |
498,36 |
|
|
c) Tangible assets |
118,25 |
|
|
e) Other financial assets |
|
0,90 |
|
8. Cash Flow in investment activities (6 + 7) |
-13.917,12 |
-9.493,72 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
13.104,31 |
7.033,06 |
|
a) Net worth instruments issue (+) |
12.121,74 |
7.000,00 |
|
e) Received legacies, grants and subventions (+) |
982,57 |
33,06 |
|
10. Financial liabilities instruments collections and payments |
|
|
|
11. Payments for dividends and remunerations of other net worth
instruments |
|
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
13.104,31 |
7.033,06 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
-5.598,26 |
4.992,68 |
|
Cash or equivalents at the beginning of the exercise |
6.073,49 |
1.080,81 |
|
Cash or equivalents at the end of the exercise |
475,23 |
6.073,49 |
RATIOS
|
|
31.12.2009 (12) |
CHANGE % |
31.12.2008 (12) |
CHANGE % |
31.12.2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
8.907,36 |
265,46 |
-5.383,38 |
80,82 |
-28.072,19 |
|
Working capital ratio |
0,17 |
525,00 |
-0,04 |
81,82 |
-0,22 |
|
Soundness Ratio |
1,05 |
800,00 |
-0,15 |
16,67 |
-0,18 |
|
Average Collection Period (days) |
109 |
-3,49 |
113 |
-25,00 |
151 |
|
Average Payment Period (days) |
123 |
-56,67 |
283 |
-52,42 |
595 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
158,80 |
75,84 |
90,31 |
17,98 |
76,55 |
|
Quick Ratio (%) |
3,14 |
-71,30 |
10,94 |
1.115,56 |
0,90 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
17,88 |
-78,60 |
83,54 |
386,55 |
17,17 |
|
External Financing Average Cost |
0,38 |
533,33 |
0,06 |
-72,73 |
0,22 |
|
Debt Service Coverage |
-1,97 |
-114,31 |
13,77 |
275,64 |
-7,84 |
|
Interest Coverage |
-1,97 |
-212,70 |
-0,63 |
24,10 |
-0,84 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
-11,82 |
-209,85 |
10,76 |
341,80 |
-4,45 |
|
Auto financing generated by Assets (%) |
-9,07 |
-249,42 |
6,07 |
377,17 |
-2,19 |
|
Breakdown Point |
0,85 |
-10,53 |
0,95 |
1,06 |
0,94 |
|
Average Sales Volume per Employee |
151,61 |
-33,02 |
226,35 |
-0,13 |
226,64 |
|
Average Cost per Employee |
41,62 |
-7,80 |
45,15 |
-6,91 |
48,50 |
|
Assets Turnover |
0,77 |
37,50 |
0,56 |
14,29 |
0,49 |
|
Inventory Turnover (days) |
199 |
4,34 |
191 |
-3,99 |
199 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-13,52 |
-350,67 |
-3,00 |
3,85 |
-3,12 |
|
Operating Profitability (%) |
-5,73 |
-884,93 |
0,72 |
69,77 |
0,43 |
|
Return on Equity (ROE) (%) |
-41,99 |
-138,57 |
108,88 |
-11,78 |
123,42 |
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 |
54,42 |
44,08 |
10,33 |
|
A) CURRENT ASSETS |
45,58 |
55,92 |
-10,33 |
|
LIABILITIES |
|||
|
A) NET WORTH |
59,09 |
59,30 |
-0,21 |
|
B) NON CURRENT LIABILITIES |
12,21 |
8,34 |
3,86 |
|
C) CURRENT LIABILITIES |
28,71 |
32,36 |
-3,66 |
|
|
|
|
|
Analytical Account
of Results
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
82,52 |
96,62 |
-14,10 |
|
Other operating income |
17,48 |
3,38 |
14,10 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-41,10 |
-46,41 |
5,31 |
|
Variation in stocks of finished goods and work in progress |
-16,58 |
0,64 |
-17,22 |
|
GROSS MARGIN |
42,33 |
54,23 |
-11,90 |
|
Other operating costs |
-27,03 |
-24,07 |
-2,96 |
|
Labour cost |
-22,66 |
-16,26 |
-6,40 |
|
GROSS OPERATING RESULT |
-7,36 |
13,90 |
-21,26 |
|
Amortization of fixed assets |
-7,97 |
-4,97 |
-3,00 |
|
Deterioration and result for fixed assets disposal |
-0,31 |
-0,06 |
-0,26 |
|
Other expenses / income |
1,10 |
|
|
|
NET OPERATING RESULT |
-14,55 |
8,88 |
-23,43 |
|
Financial result |
-11,18 |
0,23 |
-11,41 |
|
RESULT BEFORE TAX |
-25,73 |
9,11 |
-34,84 |
|
Taxes on profits |
|
-2,20 |
|
|
RESULT COMING FROM CONTINUED OPERATIONS |
-25,73 |
|
|
|
NET RESULT |
-25,73 |
6,90 |
-32,63 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
8.907,36 |
9.836,10 |
15.982,03 |
33.500,22 |
|
Working capital ratio |
0,17 |
0,16 |
0,35 |
0,48 |
|
Soundness Ratio |
1,05 |
1,21 |
1,54 |
3,11 |
|
Average Collection Period (days) |
109 |
75 |
97 |
120 |
|
Average Payment Period (days) |
123 |
43 |
57 |
79 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
158,80 |
1,40 |
2,02 |
2,90 |
|
Quick Ratio (%) |
3,14 |
0,03 |
0,19 |
0,62 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
17,88 |
8,52 |
15,90 |
27,38 |
|
External Financing Average Cost |
0,38 |
0,01 |
0,03 |
0,04 |
|
Debt Service Coverage |
-1,97 |
0,40 |
0,73 |
1,36 |
|
Interest Coverage |
-1,97 |
5,56 |
30,83 |
125,86 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
-11,82 |
5,35 |
11,73 |
18,18 |
|
Auto financing generated by Assets (%) |
-9,07 |
5,27 |
13,51 |
18,86 |
|
Breakdown Point |
0,85 |
1,03 |
1,11 |
1,16 |
|
Average Sales Volume per Employee |
151,61 |
206,28 |
271,45 |
391,69 |
|
Average Cost per Employee |
41,62 |
44,63 |
51,72 |
56,69 |
|
Assets Turnover |
0,77 |
0,53 |
1,20 |
1,52 |
|
Inventory Turnover (days) |
199 |
76 |
102 |
168 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-13,52 |
3,48 |
9,38 |
15,56 |
|
Operating Profitability (%) |
-5,73 |
5,92 |
16,09 |
22,39 |
|
Return on Equity (ROE) (%) |
-41,99 |
9,04 |
18,96 |
27,24 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.61.15 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.