MIRA
INFORM REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
DIGITILE SERVICE CERAMIC SL |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.01.2006 |
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Legal Form : |
Limited Liability 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 : |
113.000,00 € |
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Status : |
Good |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
DIGITILE SERVICE CERAMIC SL
TAX NUMBER: B12735080
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: DIGITILE SERVICE CERAMIC SL
Other names: NO
Current Address: PARTIDA TORRETA, S/N
Branches: 1
Telephone number: 964367215 Fax: 964367205
URL: www.torrecid.com
Trade Risk
Credit Appraisal: 113.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF EMPRESAS: NO
Financial Information
Balance sheet latest sales (2009): 6.552.717,35 €
(Trade Register)
Result: 487.503,8 €
Total Assets: 3.032.034,43 €
Social Capital: 200.000,00 €
Employees: 15
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 23/10/2006
Activity: Industrial machinery repairs
NACE 2009 CODE: 3312
International Operations: Imports and
Exports
Corporate Structure
President:
Parent Company:
Other Complementary Information
Latest act published in BORME: 15/02/2011 Annual Filed Accounts
Bank Entities: There are
The date when this report was last updated is 29/06/2011.
The information contained in this report has been investigated and
contrasted on 28/01/2011
TRADE RISK
CREDIT APPRAISAL
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 113.000,00 €
Financial
Situation
Exercise:2009
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Treasury |
Excellent |
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Indebtedness |
Average |
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Profitability |
Sufficient |
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Balance |
Excellent |
Performance
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Incidents |
None or Negligible |
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Business
Trajectory |
Good |
Summary
LEGAL ACTIONS: No legal actions
ADMINISTRATIVE CLAIMS: No administrative claims
AFFECTED BY: No significant element.
BANK AND BUSINESS
DEFAULTS OF PAYMENT - ASNEF EMPRESAS 
Summary
COMPANY NOT REGISTERED IN ASNEF EMPRESAS
•
There are no information on the nif/cif provided in
the Asnef Empresas file
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 |
111.780,51 |
3,69 |
132.094,92 |
4,24 |
126.565,10 |
4,17 |
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B) CURRENT ASSETS |
2.920.253,92 |
96,31 |
2.986.177,02 |
95,76 |
2.906.410,60 |
95,83 |
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LIABILITIES |
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A) NET WORTH |
1.104.625,96 |
36,43 |
617.122,16 |
19,79 |
222.192,84 |
7,33 |
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B) NON CURRENT LIABILITIES |
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C) CURRENT LIABILITIES |
1.927.408,47 |
63,57 |
2.501.149,78 |
80,21 |
2.810.782,86 |
92,67 |
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Balance Sheet Comments
Total assets of the company decreased in 2,77%
between 2.008 and 2.009.
This decrease has been greater in non current assets that reduced
in 15,38%.
Assets reduction contrasts with net worth growth
of 79,00%. Therefore, the company’s indebtedness has reduced
in 22,94%.
Total assets of the company grew in 2,81%
between 2.007 and 2.008.
This growth is a consequence of non current assets increase
in 4,37%.
This growth has been financed with a Net Worth increase
of 177,74%; this company’s net increase has also covered the
reduction of 11,02% 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 |
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SALES |
6.552.717,35 |
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8.837.396,24 |
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1.770.898,33 |
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GROSS MARGIN |
1.726.254,35 |
26,34 |
1.866.524,12 |
21,12 |
373.709,07 |
21,10 |
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EBITDA |
690.088,28 |
10,53 |
605.327,26 |
6,85 |
37.129,99 |
2,10 |
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EBIT |
714.937,92 |
10,91 |
582.987,36 |
6,60 |
27.289,93 |
1,54 |
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NET RESULT |
487.503,80 |
7,44 |
394.929,32 |
4,47 |
22.192,84 |
1,25 |
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EFFECTIVE TAX RATE (%) |
29,76 |
0,00 |
29,30 |
0,00 |
25,00 |
0,00 |
Profit and Loss Account Comments
The company’s sales figure decreased
in 25,85% between 2.008 and 2.009.
The company’s EBIT grew
in 22,63% between 2.008 and 2.009.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is an increase of the company’s Economic
Profitability of 25,61% in the analysed period, being equal
to 24,38% in the year 2.009.
The Net Result of the company grew
in 23,44% between 2.008 and 2.009.
The company’s Financial Profitability has been positively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 30,59% in the analysed period, being equal
to 62,83% in the year 2.009 .
The company’s sales figure grew
in 399,03% between 2.007 and 2.008.
The company’s EBIT grew
in 2.036,27% between 2.007 and 2.008.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is an increase of the company’s Economic
Profitability of 1.490,98% in the analysed period, being equal
to 19,41% in the year 2.008.
The Net Result of the company grew
in 1.679,53% 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 an increase of the company’s Economic
Profitability of 579,58% in the analysed period, being equal
to 90,52% 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 |
3,69 |
37,28 |
-33,59 |
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A) CURRENT ASSETS |
96,31 |
62,72 |
33,59 |
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LIABILITIES |
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A) NET WORTH |
36,43 |
42,78 |
-6,35 |
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B) NON CURRENT LIABILITIES |
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10,53 |
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C) CURRENT LIABILITIES |
63,57 |
46,69 |
16,87 |
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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 |
98,98 |
98,70 |
0,28 |
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GROSS MARGIN |
26,07 |
49,73 |
-23,66 |
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EBITDA |
10,42 |
7,91 |
2,52 |
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EBIT |
10,80 |
5,35 |
5,45 |
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NET RESULT |
7,36 |
3,32 |
4,04 |
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Sector Composition
Compared sector (NACE 2009): 331
Number of companies: 29
Size (Sales Figure): 2,800,000.00 - 7,000,000.00 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 -33,59% .
In liabilities composition the company appeals on a smaller scale to
self financing, being the Net Worth proportion 6,35% inferior. As a
consequence, external financing sources are more used by the company
( 6,35% more than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 98,98% , an 0,28% higher than in the sector .
The company’s EBIT was positive and was 10,80% with regard to
the total ordinary income, 5,45% superior to the one of the sector .
The company’s capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,11 in comparison
with 0,05) .
The company’s net result was positive and equal to 7,36% with
regard to the total ordinary income, 4,04% superior to the one of the
sector .
The financial results and the tax impact have had a negative impact on
the net result of the company with a worse behaviour that the one of the sector
.
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 Account Balance |
487.503,80 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Goodwill reserve |
0,00 |
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Voluntary reserves |
0,00 |
Special reserves |
0,00 |
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Other reserves disposable at will |
0,00 |
Voluntary reserves |
486.877,84 |
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Total of Amounts to be distributed |
487.503,80 |
Dividends |
0,00 |
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Carry over and others |
625,96 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
487.503,80 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: FONT ARQUER JOSE ANTONIO
Auditing fees: 6.400,00 €
Facts subsequent to the closing
Source: Annual financial report 2009
Posterior to the closure there were no relevant facts that require the
inclusion in the annual accounts.
ADDRESSES
Current Legal Seat Address:
PARTIDA TORRETA, S/N
12110 ALCORA
CASTELLÓN
Characteristics of the current address
Type of establishment: store
Local Situation: main
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STREET |
POSTAL CODE |
TOWN |
PROVINCE |
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CARRETERA CASTELLON-TERUEL (NAVE 8), 8 |
12110 |
ALCORA |
Castellón |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
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Distribution of the administration board |
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Governing body : 6 members (latest change:
07/12/2006) Other Positions : 1 (latest change: 07/12/2006) Auditor : 2 (latest change: 07/09/2010) Operative Board Members : 1 (latest change: 28/01/2011) |
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Main Board members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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PRESIDENT |
MICHAVILA HERAS, FEDERICO |
07/12/2006 |
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MEMBER OF THE BOARD |
LAHUERTA SERRA, JOSE VICENTE |
07/12/2006 |
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MEMBER OF THE BOARD |
MICHAVILA HERAS, MIGUEL ANGEL |
07/12/2006 |
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Auditor
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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AUDITOR |
FONT ARQUER, CONRADO |
07/09/2010 |
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AUDITOR |
FONT ARQUER, JOSE ANTONIO |
07/09/2010 |
Board members remuneration
Source: Annual
financial report 2009
Board
members remuneration: 0,00 €
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POSITION |
NAME AND SURNAME |
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Exports Director |
SANDOS, EDGAR |
FINANCIAL LINKS
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BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
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TORRECID SOCIEDAD ANONIMA |
A12011946 |
97,88 |
OWN SOURCES |
28/01/2011 |
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AL FARBEN SA |
A12029039 |
Indef. |
TRADE REG. |
31/12/2009 |
BUSINESS INFORMATION
Incorporation date: 23/10/2006
Origin / Foundation
Establishment date: 01/01/2006
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
NACE 2009 CODE: 3312
NACE 2009 Activity: Repair of machinery
Business: 1.- LA FABRICACION, IMPORTACION, EXPORTACION, LA
INTERMEDIACION Y EL COMERCIO AL POR MAYOR Y MENOR DE MAQUINARIA INDUSTRIAL Y
MATERIAL RELACIONADO CON ORDENADORES Y PROGRAMAS PARA LA MISMA, APARATOS
ELECTRICOS Y ELECTRON
Latest employees figure: 15 (2011)
% of fixed employees: 64,29%
% of temporary employees: 35,71%
% of men: 92,86%
% of women: 7,14%
Employees evolution
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Source: Annual financial report 2009
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CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
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Distribution by sexes |
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13 |
1 |
PURCHASES
Import Percentage: 99%
Imports from: UE Y OTROS PAISES
National Distribution: 1%
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ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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BANCO DE VALENCIA, S.A. |
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Discount facilities: 1
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 0
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Debt type: Credit policy |
Granted limit:2.300.000,00 € Used limit:1.338.035,78
€ Available limit:961.964,22
€ Source: Filed
Accounts (2009) |
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Debt type: Discount
facilities |
Granted limit:3.700.000,00 € Used limit:22.251,97 € Available limit:3.677.748,03
€ Source: Filed
Accounts (2009) |
LEGAL STRUCTURE
Constitution Data
Register Date: 23/10/2006
Register town: Castellón
Announcement number: 585119
Register data:
Volume 1373, Book 936, Folio 85, Section 8, Sheet 26984,
Inscription I/A 1 (2006-11-23)
Social Capital: 200.000 €
Legal form: Limited Liability Company
Social Capital: 200.000,00 €
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: 4 (Last: 07/09/2010, first:
07/12/2006)
Acts on capital: 0
Acts on creation: 1 (Last: 07/12/2006)
Acts on filed accounts: 4 (Last: 15/02/2011, first:
14/01/2008)
Acts on identification: 0
Acts on Information: 0
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
07/09/2010 |
343602 |
Castellón |
|
Appointments |
07/12/2006 |
585121 |
Castellón |
|
Appointments |
07/12/2006 |
585120 |
Castellón |
|
Appointments |
07/12/2006 |
585119 |
Castellón |
|
Constitution |
07/12/2006 |
585119 |
Castellón |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
15/02/2011 |
74757 |
Castellón |
|
Annual Filed Accounts (2008) |
01/02/2010 |
73316 |
Castellón |
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Annual Filed Accounts (2007) |
09/01/2009 |
6988 |
Castellón |
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
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|
1 |
Rs.71.95 |
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Euro |
1 |
Rs.64.79 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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-- |
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.