MIRA INFORM
REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
TUBACEX TUBOS INOXIDABLES SA ”TTI” |
|
|
|
|
Registered Office : |
Calle Tres Cruces, 8, 01400 Laudio/Llodio Álava |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
|
|
|
|
|
Legal Form : |
Joint Stock Company |
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|
|
Line of Business : |
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 : |
5.785.000,00 € |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Spain |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
TUBACEX TUBOS INOXIDABLES SA ”TTI”
TAX NUMBER: A01140227
EXECUTIVE SUMMARY
Identification
Current Business Name: TUBACEX TUBOS INOXIDABLES SA
Other names: YES
Current Address: CALLE TRES CRUCES, 8
Branches: 1
Telephone number: 946719300 Fax: 946725062
URL: www.tubacex.com
Corporate e-mail: sales@tubacex.es
Trade Risk
Credit Appraisal: 5.785.000,00 €
Incidents: NO
R.A.I.: NO
Bank and business defaults of payment - ASNEF EMPRESAS: NO
Financial Information
Balance sheet latest sales (2009): 202.990.840,00 € (Trade Register)
Result: -14.757.862 €
Total Assets: 171.754.049 €
Social Capital: 15.028.005,00 €
Employees: 420
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 21/05/1993
Activity: Mfg. of steel tubes
NACE 2009 CODE: 2420
International Operations: Imports and
Exports
Corporate Structure
President:
Parent Company:
Participations: 1
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: 20/05/2011 Appointments
Latest press article: 05/01/2010 LA
VANGUARDIA (CORPORATE INFORMATION)
Bank Entities: There are
The date when this report was last updated is 30/06/2011.
The information contained in this report has been investigated and
contrasted on 30/06/2011
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 5.785.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Average |
|
Profitability |
Average |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Excellent |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
BANK AND BUSINESS DEFAULTS
OF PAYMENT - ASNEF EMPRESAS
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
24/06/2011 10:06:01
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 €
|
|
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
49.830.441,00 |
29,01 |
35.027.658,00 |
13,53 |
21.934.536,00 |
10,04 |
|
B) CURRENT ASSETS |
121.923.608,00 |
70,99 |
223.898.489,00 |
86,47 |
196.491.940,00 |
89,96 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
58.598.789,00 |
34,12 |
73.182.658,00 |
28,26 |
65.177.615,00 |
29,84 |
|
B) NON CURRENT LIABILITIES |
31.519.909,00 |
18,35 |
33.218.991,00 |
12,83 |
6.012.610,00 |
2,75 |
|
C) CURRENT LIABILITIES |
81.635.351,00 |
47,53 |
152.524.498,00 |
58,91 |
147.236.251,00 |
67,41 |
Profit and Loss
Account Analysis
Figures given in €
|
|
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 |
202.990.840,00 |
|
375.832.121,00 |
|
362.463.111,00 |
|
|
GROSS MARGIN |
60.928.695,00 |
30,02 |
127.776.609,00 |
34,00 |
106.823.080,00 |
29,47 |
|
EBITDA |
-6.574.138,00 |
-3,24 |
27.103.333,00 |
7,21 |
22.274.506,00 |
6,15 |
|
EBIT |
-17.847.902,00 |
-8,79 |
20.622.385,00 |
5,49 |
16.839.621,00 |
4,65 |
|
NET RESULT |
-14.757.862,00 |
-7,27 |
8.629.620,00 |
2,30 |
10.113.271,00 |
2,79 |
|
EFFECTIVE TAX RATE (%) |
-35,35 |
0,00 |
9,31 |
0,00 |
30,11 |
0,00 |
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
29,01 |
57,08 |
-28,07 |
|
|
|
|
|
A) CURRENT ASSETS |
70,99 |
42,92 |
28,07 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
||
|
A) NET WORTH |
34,12 |
54,48 |
-20,36 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
18,35 |
18,76 |
-0,41 |
|
|
|
|
|
C) CURRENT LIABILITIES |
47,53 |
26,76 |
20,77 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
|
SALES |
99,45 |
99,74 |
-0,30 |
|
|
|
|
|
GROSS MARGIN |
29,85 |
31,98 |
-2,14 |
|
|
|
|
|
EBITDA |
-3,22 |
9,82 |
-13,05 |
|
|
|
|
|
EBIT |
-8,74 |
7,36 |
-16,10 |
|
|
|
|
|
NET RESULT |
-7,23 |
5,89 |
-13,12 |
|
|
|
|
Sector Composition
Compared sector (NACE 2009): 242
Number of companies: 12
Size (Sales Figure): > 40,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2009
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss |
-14.757.862,00 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
-14.757.862,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
-14.757.862,00 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: KPMG AUDITORES S.L.
Auditing fees: 29.000,00 €
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.
company
ADDRESSES
Current Legal Seat Address:
CALLE TRES CRUCES, 8
01400 LAUDIO/LLODIO
ÁLAVA
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
APARTADO DE CORREOS 22 |
01400 |
LAUDIO/LLODIO |
Álava |
There are 1 branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Governing body : 10 members (latest change:
08/03/2010) Other Positions : 10 (latest change: 16/02/2011) Auditor : 1 (latest change: 18/09/2009) Operative Board Members : 6 (latest change: 11/04/2011) Non-current positions : 23 (latest change: 23/01/2009) |
|
|
Main Board members,
Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
VIDEGAIN MURO, ALVARO |
07/03/2007 |
|
MEMBER OF THE BOARD |
HERTNER, ERICH |
07/03/2007 |
|
MEMBER OF THE BOARD |
FERNANDEZ MUINOS, MANUEL |
07/03/2007 |
|
MEMBER OF THE BOARD |
GARTEIZGOGEASCOA IGUAIN, JUAN ANTONIO |
07/03/2007 |
|
MEMBER OF THE BOARD |
MARCO GARDOQUI IBANEZ, IGNACIO |
07/03/2007 |
|
MEMBER OF THE BOARD |
NEGRO PARRAGA, OSCAR |
07/03/2007 |
|
MEMBER OF THE BOARD |
RUIZ LONGARTE PEREZ, GUILLERMO |
07/03/2007 |
|
MEMBER OF THE BOARD |
VILLARES RODRIGUEZ, JOSE |
08/03/2010 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
KPMG AUDITORES SL |
18/09/2009 |
There are 21 board members, directors and auditors registered
Board members remuneration
Source: Annual
financial report 2009
Board
members remuneration: 121.700,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
RUIZ LONGARTE, GUILLERMO |
|
Financial Manager |
ROBLES MOLLINEDO, JAVIER |
|
Human Resources Director |
AZLOR, ANTON |
|
Commercial Director |
LAZARO, MIKEL |
|
Purchases Director |
CARBAJO, PEDRO |
|
IT Director |
CANIVELL, RAMON |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
TUBACEX, SA |
A01003946 |
99,99 |
OWN SOURCES |
11/04/2011 |
There are 1 direct financial links through shareholders
registered
Company with rating inferior to 7
Majority shareholder of TUBACEX, SA
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LARREDER SL |
B01367069 |
18,20 |
TRADE REG. |
31/12/2008 |
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
TUBACEX INNOVACION AIE |
V01455864 |
Indef. |
B.O.R.M.E. |
07/06/2010 |
There are 1 direct financial links through participations
registered
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
TUBACEX, SA |
A01003946 |
1,09 |
EL MUNDO DEL SIGLO VEINTIUNO |
22/04/2002 |
Company with rating inferior to 7
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”ALVARO VIDEGAIN MURO”
|
COMPANY |
POSITION |
PROVINCE |
|
THT SOFTWARE SA |
Presidente |
VIZCAYA |
|
TUBACEX TAYLOR ACCESORIOS S.A. |
Presidente |
ALAVA |
|
ACERIA DE ALAVA SA |
Presidente |
ALAVA |
|
TUBACEX, SA |
Presidente |
ALAVA |
|
COMERCIAL DE TUBOS Y ACCESORIOS ESPECIALES SA |
Presidente |
ALAVA |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”TUBACEX TUBOS INOXIDABLES SA”
URL: www.tubacex.com
TUBACEX - Información comercial: Tubos inoxidables Tubacex
Tubos Inoxidables, S.A. Tres Cruces 8 01400 LLODIO (ALAVA) - SPAIN ...
URL: www.hotfrog.es
Tubacex Tubos Inoxidables, S.A. - T.T.I. Tubacex
Tubos Inoxidables, S.A. - T.T.I. Llodio, perfil corporativo y artículos de
productos.
URL: panjiva.com
Tubacex Tubos Inoxidables, S.A., Tres Cruces, 8, Llodio, Alava ... Find
objective information on Tubacex Tubos Inoxidables, S.A., including details on
their customers, capabilities, credit, and more.
URL: www.idae.es
Tubacex, Tubos Inoxidables, S.A. Combustión sumergida para ... Tubacex,
Tubos Inoxidables, S.A. Combustión sumergida para calentamiento de bańos de
decapado. Documentos IDAE 2 p.; 30 cm; Madrid, 1997 ...
URL: www.gulfoilandgas.com
T.T.I Tubacex Tubos Inoxidables, S.A. profile: Fittings: General T.T.I
Tubacex Tubos Inoxidables, S.A. - Fittings: General.
BUSINESS INFORMATION
Incorporation date: 21/05/1993
Activity: Mfg. of steel tubes
NACE 2009 CODE: 2420
NACE 2009 Activity: Manufacture of tubes, pipes, hollow profiles
and related fittings, of steel
Business: FABRICACION Y VENTA DE TUBOS DE ACERO INOXIDABLE,
DE OTROS ACEROS ESPECIALES Y DE ALTAS ALEACIONES, INCLUIDOS LOS TUBOS
BIMETALICOS, ASI COMO DE CUALQUIER OTRO PRODUCTO ESPECIFICO Y COMPLEMENTARIO.
Environmental information: YES (Page 79 -
80) Annual financial report 2009
Latest employees figure: 420 (2011)
% of fixed employees: 100,00%
% of men: 87,86%
% of women: 12,14%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
572 |
79 |
SALES
Export Percentage: 77%
Exports to: EUROPA, EEUU Y RESPO DEL MUNDO
National Distribution: 23%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
TUBOS MECANICOS
NORTE SA |
NO |
|
TUBACEX SA |
NO |
|
TUBACEX TAYLOR
ACCESORIOS SA |
YES |
|
TUBACEX INC |
YES |
|
TUBACEX CANADA
INC |
YES |
|
SCHOELLER-BLECKMANN
EDELSTAHLROHR AG |
YES |
|
COMERCIAL DE
TUBOS Y ACCESORIOS ESPECIALES SA |
NO |
|
ACERIA DE ALAVA
SA |
NO |
|
SOCMERCIAL DE TUBOS
Y ACCESORIOS ESPECIALES, S.A. |
NO |
|
COTUBES S.A. |
NO |
There are 17 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
TUBACEX TAYLOR
ACCESORIOS SA |
YES |
|
TUBACEX INC |
YES |
|
TUBACEX CANADA
INC |
YES |
|
SCHOELLER-BLECKMANN
EDELSTAHLROHR AG |
YES |
|
SALEM TUBE, INC |
YES |
|
MIS METAUX INOX |
YES |
|
COTUBES CANADA
INC |
YES |
|
COMERCIAL DE
TUBOS Y ACCESORIOS ESPECIALES SA |
NO |
|
COMERCIAL DE
TUBOS YA CCESORIOS ESPECIALES SA |
NO |
|
TUBOS MECANICOS
SA |
NO |
There are 23 Clients
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO SANTANDER, S.A. |
|
|
BILBAO |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
BILBAO |
|
|
BANCO DE SABADELL, S.A. |
|
|
BILBAO |
|
There are 3 bank entities registered
Discount facilities: 0
Credit policy: 0
Mortgage loan: 0
Loans with no real security: 7
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:12.079.563,00 € Long term outstanding
amount:6.105.734,00 € Short term outstanding
amount:5.973.829,00 € Total outstanding amount:12.079.563,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:8.000.000,00 € Long term outstanding
amount:4.000.000,00 € Short term outstanding
amount:4.000.000,00 € Total outstanding amount:8.000.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:4.000.000,00 € Long term outstanding
amount:3.200.000,00 € Short term outstanding
amount:800.000,00 € Total outstanding amount:4.000.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:3.810.000,00 € Long term outstanding
amount:3.238.095,00 € Short term outstanding
amount:571.429,00 € Total outstanding amount:3.809.524,00
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:2.000.000,00 € Long term outstanding
amount:1.600.000,00 € Short term outstanding
amount:400.000,00 € Total outstanding amount:2.000.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
There are 7 bank operations registered
Grants
|
|
|
|
Body-entity: MINISTERIO DE INDUSTRIA, TURISMO Y COMERCIO Grant type: Financial
(capital, interests, etc) Granting year: 2001 |
Nominal amount: 15.455,00 € Source: Filed
Accounts (2009) |
|
Operation description: Financiación de I+D |
|
|
|
|
|
Body-entity: MINISTERIO DE INDUSTRIA, TURISMO Y COMERCIO Grant type: Financial
(capital, interests, etc) Granting year: 2000 |
Nominal amount: 5.019,00 € Source: Filed
Accounts (2009) |
|
Operation description: Financiación de I+D |
|
|
|
|
|
Body-entity: MINISTERIO DE CIENCIA E INNOVACION Grant type: To
technology and innovation (IT, R&D, etc) Granting year: 2002 |
Nominal amount: 12.410,00 € Source: Filed
Accounts (2009) |
|
Operation description: Financiación de I+D |
|
|
|
|
There are 11 grants registered
FORMER NAMES:
•
TUBACEX TUBOS INOXIDABLES SL
LEGAL
STRUCTURE
Constitution Data
Register Date: 21/05/1993
Register town: Álava
Announcement number: 247668
Social Capital: 3.005,06 €
Legal form: Joint-stock Company
Social Capital: 15.028.005,00 €
Paid-up capital: 15.028.005,00 €
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: 51 (Last: 20/05/2011, first:
08/07/1993)
Acts on capital: 1 (Last: 09/03/1994)
Acts on creation: 1 (Last: 08/07/1993)
Acts on filed accounts: 16 (Last: 12/07/2010, first:
18/10/1995)
Acts on identification: 1 (Last: 22/04/1994)
Acts on Information: 3 (Last: 21/09/2006, first:
07/04/1998)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
20/05/2011 |
215080 |
Álava |
|
Appointments |
16/02/2011 |
69229 |
Álava |
|
Appointments |
03/11/2010 |
405153 |
Álava |
|
Appointments |
08/03/2010 |
96290 |
Álava |
|
Appointments |
08/03/2010 |
96289 |
Álava |
|
Re-elections |
18/09/2009 |
400310 |
Álava |
|
Resignations |
23/01/2009 |
36355 |
Álava |
|
Re-elections |
06/10/2008 |
459718 |
Álava |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
12/07/2010 |
233992 |
Álava |
|
Annual Filed Accounts (2008) |
31/07/2009 |
182592 |
Álava |
|
Annual Filed Accounts (2007) |
12/09/2008 |
499414 |
Álava |
There are 73 acts registered
PRESS ARTICLES
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 3 (Last: 05/01/2010, first: 19/06/2007)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 28 (Last: 20/02/2003, first:
04/01/1994)
Latest press article published
05/01/2010 LA VANGUARDIA - CORPORATE INFORMATION
LA DELEGACION DE TRABAJO DEL GOBIERNO VASCO HA APROBADO UN SEGUNDO
EXPEDIENTE DE REGULACION DE EMPLEO (ERE) PROPUESTO POR LA DIRECCION DE TUBACEX,
TTI Y ACERALAVA, Y HA DESESTIMADO LA EXCLUSION DE ELA Y LAB, SINDICATOS NO
FIRMANTES, DE LA COMISION DE SEGUIMIENTO DEL ERE, QUE SUSPENDERA LA ACTIVIDAD
DE LA EMPRESA DURANTE 6 MESES. EL PRIMER ERE AFECTO A TODA LA PLANTILLA, DE 878
TRABAJADORES, Y ELA HA ADVERTIDO DE QUE EL NUEVO ACUERDO NO GARANTIZA EL EMPLEO
FUTURO.
24/04/2009 CINCO DIAS - CORPORATE INFORMATION
DIRECCION Y SINDICATOS DEL GRUPO TUBACEX PACTARON EL 23/04/09 LAS
CONDICIONES A LAS QUE SE ACOGERAN LOS 878 TRABAJADORES AFECTADOS POR UN ERE
TEMPORAL DESDE EL PROXIMO 4/05/09 HASTA EL 31/12/09. ESTA ESTRATEGIA PERMITIRA
ADAPTAR LA CAPACIDAD DE PRODUCCION DE SUS PARTICIPADAS ACERIA DE ALAVA Y
TTI.
19/06/2007 EXPANSIÓN DEL PAIS VASCO - GENERAL
INFORMATION
LAS FILIALES DE TUBACEX TTI Y ACERALAVA HAN OBTENIDO LA CERTIFICACION
OSHAS 18001 -NORMA ESTANDARIZADA DE MAXIMO RECONOCIMIENTO INTERNACIONAL- EN SUS
SISTEMAS DE GESTION EN PREVENCION DE RIESGOS LABORALES.
20/02/2003 EXPANSIÓN - GOVERNING BODIES
ANTON AZLOR HA SIDO NOMBRADO DIRECTOR DE GESTION DE PERSONAS Y
ORGANIZACION DE LAS FILIALES TUBACEX TUBOS INOXIDABLES Y ACERIA DE ALAVA, Y
ADJUNTO A LA PRESIDENCIA DEL GRUPO TUBACEX.
16/04/2002 ESTRATEGIA EMPRESARIAL - GENERAL
INFORMATION
ESTA SDAD. HA OBTENIDO LA CERTIFICACION DE SUS SISTEMAS DE ASEGURAMIENTO
DE LA CALIDAD PARA LA FABRICACION DE MATERIALES PARA EQUIPOS DE PRESION.
There are 31 press articles registered for this company
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 05/08/2010.
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 €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
49.830.441,00 |
29,01 |
35.027.658,00 |
13,53 |
21.934.536,00 |
10,04 |
|
I. Intangible assets |
|
|
|
|
|
|
|
II. Tangible fixed assets |
39.832.937,00 |
23,19 |
32.111.003,00 |
12,40 |
21.933.334,00 |
10,04 |
|
1. Property, plant and equipment |
1.601.467,00 |
0,93 |
1.513.731,00 |
0,58 |
|
|
|
2. Technical fittings and other tangible assets |
35.504.232,00 |
20,67 |
28.032.777,00 |
10,83 |
|
|
|
3. Fixed assets in progress and advances |
2.727.238,00 |
1,59 |
2.564.495,00 |
0,99 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
182.150,00 |
0,11 |
182.150,00 |
0,07 |
|
|
|
2. Credits to companies |
182.150,00 |
0,11 |
182.150,00 |
0,07 |
|
|
|
V. Long Term Financial Investments |
1.202,00 |
0,00 |
1.202,00 |
0,00 |
1.202,00 |
0,00 |
|
1. Net worth instruments |
1.202,00 |
0,00 |
1.202,00 |
0,00 |
|
|
|
5. Other financial assets |
|
|
|
|
1.202,00 |
0,00 |
|
VI. Assets by deferred taxes |
9.814.152,00 |
5,71 |
2.733.303,00 |
1,06 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
121.923.608,00 |
70,99 |
223.898.489,00 |
86,47 |
196.491.940,00 |
89,96 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
64.589.629,00 |
37,61 |
97.642.744,00 |
37,71 |
73.306.731,00 |
33,56 |
|
2. Raw material inventory |
18.172.102,00 |
10,58 |
25.391.846,00 |
9,81 |
|
|
|
3. Work in Progress |
28.231.578,00 |
16,44 |
45.164.571,00 |
17,44 |
|
|
|
b) Short production cycle |
28.231.578,00 |
16,44 |
45.164.571,00 |
17,44 |
|
|
|
4. Finished goods |
18.164.738,00 |
10,58 |
27.082.960,00 |
10,46 |
|
|
|
b) Short production cycle |
18.164.738,00 |
10,58 |
27.082.960,00 |
10,46 |
|
|
|
6. Pre-payments to suppliers |
21.211,00 |
0,01 |
3.367,00 |
0,00 |
|
|
|
III. Trade Debtors and other receivable accounts |
52.993.716,00 |
30,85 |
114.368.418,00 |
44,17 |
121.124.077,00 |
55,45 |
|
1. Clients |
21.045.737,00 |
12,25 |
67.633.273,00 |
26,12 |
61.128.422,00 |
27,99 |
|
b) Clients for sales and short term services
rendering |
21.045.737,00 |
12,25 |
67.633.273,00 |
26,12 |
|
|
|
2. Clients group and associated companies |
24.439.604,00 |
14,23 |
26.179.557,00 |
10,11 |
38.517.802,00 |
17,63 |
|
3. Other debts |
200,00 |
0,00 |
60.000,00 |
0,02 |
61.600,00 |
0,03 |
|
4. Staff |
231,00 |
0,00 |
|
|
|
|
|
5. Assets by current taxes |
99,00 |
0,00 |
|
|
|
|
|
6. Other credits with the Public Administrations |
7.507.845,00 |
4,37 |
20.495.588,00 |
7,92 |
21.416.253,00 |
9,80 |
|
IV. Short term investments in associated and affiliated companies |
|
|
|
|
|
|
|
V. Short term financial investments |
3.198.312,00 |
1,86 |
1.161.763,00 |
0,45 |
182.150,00 |
0,08 |
|
2. Credits to companies |
|
|
|
|
182.150,00 |
0,08 |
|
4. By-products |
198.312,00 |
0,12 |
1.161.763,00 |
0,45 |
|
|
|
5. Other financial assets |
3.000.000,00 |
1,75 |
|
|
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
1.141.951,00 |
0,66 |
10.725.564,00 |
4,14 |
1.878.982,00 |
0,86 |
|
1. Treasury |
1.141.951,00 |
0,66 |
10.725.564,00 |
4,14 |
1.878.982,00 |
0,86 |
|
TOTAL ASSETS (A + B) |
171.754.049,00 |
100,00 |
258.926.147,00 |
100,00 |
218.426.476,00 |
100,00 |
Alerts associated to the conversion to PGC2007
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 could
not be identified the value of “By-products” contracted by the Company that are
susceptible to be recorded under PGC2007.
Net Worth and
Liabilities
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
58.598.789,00 |
34,12 |
73.182.658,00 |
28,26 |
65.177.615,00 |
29,84 |
|
A-1) Equity |
58.820.092,00 |
34,25 |
74.178.074,00 |
28,65 |
65.177.615,00 |
29,84 |
|
I. Capital |
15.028.005,00 |
8,75 |
15.028.005,00 |
5,80 |
15.028.005,00 |
6,88 |
|
1. Authorized capital |
15.028.005,00 |
8,75 |
15.028.005,00 |
5,80 |
15.028.005,00 |
6,88 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
58.549.949,00 |
34,09 |
51.120.569,00 |
19,74 |
40.636.459,00 |
18,60 |
|
1. Legal and statutory |
3.319.497,00 |
1,93 |
3.319.497,00 |
1,28 |
3.005.665,00 |
1,38 |
|
2. Other funds |
55.230.452,00 |
32,16 |
47.801.072,00 |
18,46 |
37.630.794,00 |
17,23 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-14.757.862,00 |
-8,59 |
8.629.620,00 |
3,33 |
10.113.271,00 |
4,63 |
|
VIII. (Interim dividend) |
|
|
-600.120,00 |
-0,23 |
-600.120,00 |
-0,27 |
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
-534.413,00 |
-0,31 |
-1.269.705,00 |
-0,49 |
|
|
|
I. Financial assets available for sale |
|
|
|
|
|
|
|
II. Coverage operations |
-534.413,00 |
-0,31 |
-1.269.705,00 |
-0,49 |
|
|
|
III. Non-current assets and related liabilities, maintained for sale |
|
|
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
|
|
V. Other |
|
|
|
|
|
|
|
A-3) Received legacies, grants and subventions |
313.110,00 |
0,18 |
274.289,00 |
0,11 |
|
|
|
B) NON CURRENT LIABILITIES |
31.519.909,00 |
18,35 |
33.218.991,00 |
12,83 |
6.012.610,00 |
2,75 |
|
I. Long term provisions |
9.718.420,00 |
5,66 |
11.415.690,00 |
4,41 |
4.261.215,00 |
1,95 |
|
1. Long term staff benefits obligations |
8.997.205,00 |
5,24 |
10.694.475,00 |
4,13 |
4.261.215,00 |
1,95 |
|
4. Other provisions |
721.215,00 |
0,42 |
721.215,00 |
0,28 |
|
|
|
II. Long term debts |
21.679.724,00 |
12,62 |
21.696.633,00 |
8,38 |
1.751.395,00 |
0,80 |
|
2. Debts with bank entities |
19.858.115,00 |
11,56 |
20.144.479,00 |
7,78 |
288.960,00 |
0,13 |
|
4. By-products |
168.149,00 |
0,10 |
470.408,00 |
0,18 |
|
|
|
5. Other financial liabilities |
1.653.460,00 |
0,96 |
1.081.746,00 |
0,42 |
1.462.435,00 |
0,67 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
121.765,00 |
0,07 |
106.668,00 |
0,04 |
|
|
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
81.635.351,00 |
47,53 |
152.524.498,00 |
58,91 |
147.236.251,00 |
67,41 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
4.886.066,00 |
2,84 |
1.539.019,00 |
0,59 |
634.331,00 |
0,29 |
|
III. Short term debts |
45.554.437,00 |
26,52 |
62.457.376,00 |
24,12 |
47.653.961,00 |
21,82 |
|
2. Debts with bank entities |
44.671.761,00 |
26,01 |
59.858.605,00 |
23,12 |
47.653.961,00 |
21,82 |
|
4. By-products |
593.397,00 |
0,35 |
2.327.968,00 |
0,90 |
|
|
|
5. Other financial liabilities |
289.279,00 |
0,17 |
270.803,00 |
0,10 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
31.194.848,00 |
18,16 |
88.528.103,00 |
34,19 |
98.947.959,00 |
45,30 |
|
1. Suppliers |
3.024.286,00 |
1,76 |
4.574.417,00 |
1,77 |
19.061.723,00 |
8,73 |
|
b) Short term suppliers |
3.024.286,00 |
1,76 |
4.574.417,00 |
1,77 |
|
|
|
2. Suppliers group and associated companies |
14.116.868,00 |
8,22 |
52.801.104,00 |
20,39 |
69.129.290,00 |
31,65 |
|
3. Different creditors |
8.716.700,00 |
5,08 |
16.708.748,00 |
6,45 |
|
|
|
4. Staff (pending remunerations) |
1.979.226,00 |
1,15 |
4.900.203,00 |
1,89 |
6.046.042,00 |
2,77 |
|
5. Liabilities by current taxes |
|
|
3.486.920,00 |
1,35 |
|
|
|
6. Other debts with Public Administrations |
2.311.131,00 |
1,35 |
2.987.427,00 |
1,15 |
4.710.904,00 |
2,16 |
|
7. Clients pre-payments |
1.046.637,00 |
0,61 |
3.069.284,00 |
1,19 |
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
171.754.049,00 |
100,00 |
258.926.147,00 |
100,00 |
218.426.476,00 |
100,00 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to long
term staff benefits provisions has 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 maintained
in the current and subsequent exercise long term staff benefits provisions for
%1 and 2%.
In the conversion process there could not
be identified the value of by-products contracted by the Company that are
susceptible to be recorded under PGC2007
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 €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
202.990.840,00 |
99,45 |
375.832.121,00 |
99,73 |
362.463.111,00 |
99,69 |
|
A) Sales |
202.926.294,00 |
99,42 |
375.780.619,00 |
99,72 |
362.463.111,00 |
99,69 |
|
b) Services provided |
64.546,00 |
0,03 |
51.502,00 |
0,01 |
|
|
|
2. Variation in stocks of finished goods and work in progress |
-25.851.216,00 |
-12,66 |
23.967.512,00 |
6,36 |
13.006.747,00 |
3,58 |
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-117.340.307,00 |
-57,49 |
-273.040.203,00 |
-72,45 |
-269.777.159,00 |
-74,20 |
|
a) Material consumed |
-114.015.800,00 |
-55,86 |
|
|
|
|
|
b) Raw materials consumed |
|
|
-269.117.739,00 |
-71,41 |
-267.124.139,00 |
-73,47 |
|
c) Works carried out for other companies |
-3.442.697,00 |
-1,69 |
-4.049.365,00 |
-1,07 |
-2.653.020,00 |
-0,73 |
|
d) Deterioration on merchandises, raw materials and other supplies |
118.190,00 |
0,06 |
126.901,00 |
0,03 |
|
|
|
5. Other operating income |
1.129.378,00 |
0,55 |
1.017.179,00 |
0,27 |
1.130.381,00 |
0,31 |
|
a) Other incomes |
1.006.439,00 |
0,49 |
950.242,00 |
0,25 |
1.130.381,00 |
0,31 |
|
b) Operating grants included in the exercise result |
122.939,00 |
0,06 |
66.937,00 |
0,02 |
|
|
|
6. Labour cost |
-33.795.700,00 |
-16,56 |
-51.516.634,00 |
-13,67 |
-41.252.081,00 |
-11,35 |
|
a) Wages and similar expenses |
-23.733.741,00 |
-11,63 |
-30.279.761,00 |
-8,03 |
|
|
|
b) Social costs |
-10.790.518,00 |
-5,29 |
-13.081.553,00 |
-3,47 |
|
|
|
c) Provisions |
728.559,00 |
0,36 |
-8.155.320,00 |
-2,16 |
|
|
|
7. Other operating costs |
-37.096.350,00 |
-18,17 |
-48.521.376,00 |
-12,88 |
-42.487.261,00 |
-11,69 |
|
a) External services |
-28.816.806,00 |
-14,12 |
-43.920.881,00 |
-11,65 |
-42.423.707,00 |
-11,67 |
|
b) Taxes |
-100.659,00 |
-0,05 |
-98.942,00 |
-0,03 |
-63.554,00 |
-0,02 |
|
c) Losses, deterioration and variation on business operations
provisions |
-4.520.161,00 |
-2,21 |
-904.688,00 |
-0,24 |
|
|
|
d) Other day to day expenses |
-3.658.724,00 |
-1,79 |
-3.596.865,00 |
-0,95 |
|
|
|
8. Amortization of fixed assets |
-5.859.039,00 |
-2,87 |
-5.703.161,00 |
-1,51 |
-5.434.885,00 |
-1,49 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
-2.025.508,00 |
-0,99 |
-1.413.053,00 |
-0,37 |
-809.232,00 |
-0,22 |
|
a) Deteriorations and losses |
-1.012.754,00 |
-0,50 |
|
|
|
|
|
b) Results for disposals and others |
-1.012.754,00 |
-0,50 |
-1.413.053,00 |
-0,37 |
-809.232,00 |
-0,22 |
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
|
|
|
|
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
-17.847.902,00 |
-8,74 |
20.622.385,00 |
5,47 |
16.839.621,00 |
4,63 |
|
14. Financial income |
135.304,00 |
0,07 |
1.029.206,00 |
0,27 |
1.359.584,00 |
0,37 |
|
b) From negotiable values and other financial instruments |
56.488,00 |
0,03 |
1.015.751,00 |
0,27 |
1.359.584,00 |
0,37 |
|
b 1) From group and associated companies |
31.382,00 |
0,02 |
300.248,00 |
0,08 |
|
|
|
b 2) From third parties |
25.106,00 |
0,01 |
715.503,00 |
0,19 |
1.359.584,00 |
0,37 |
|
c) Allocation of financial legacies, grants and subventions |
78.816,00 |
0,04 |
13.455,00 |
0,00 |
|
|
|
15. Financial expenses |
-4.335.009,00 |
-2,12 |
-7.269.693,00 |
-1,93 |
-3.421.348,00 |
-0,94 |
|
a) For debts with associated and affiliated companies |
-1.148.458,00 |
-0,56 |
-3.011.272,00 |
-0,80 |
|
|
|
b) For debts with third parties |
-3.186.551,00 |
-1,56 |
-4.258.421,00 |
-1,13 |
-3.421.348,00 |
-0,94 |
|
16. Reasonable value variation on financial instruments |
|
|
-4.866.339,00 |
-1,29 |
|
|
|
a) Negotiation portfolio and others |
|
|
-1.277.725,00 |
-0,34 |
|
|
|
b) Allocation to the exercise result for financial assets available
for sale |
|
|
-3.588.614,00 |
-0,95 |
|
|
|
17. Exchange differences |
-778.327,00 |
-0,38 |
|
|
-308.572,00 |
-0,08 |
|
18. Deterioration and result for disposal of financial instruments |
|
|
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-4.978.032,00 |
-2,44 |
-11.106.826,00 |
-2,95 |
-2.370.336,00 |
-0,65 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-22.825.934,00 |
-11,18 |
9.515.559,00 |
2,53 |
14.469.285,00 |
3,98 |
|
20. Taxes on profits |
8.068.072,00 |
3,95 |
-885.939,00 |
-0,24 |
-4.356.014,00 |
-1,20 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-14.757.862,00 |
-7,23 |
8.629.620,00 |
2,29 |
10.113.271,00 |
2,78 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-14.757.862,00 |
-7,23 |
8.629.620,00 |
2,29 |
10.113.271,00 |
2,78 |
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.
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.
NET WORTH CHANGES STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-14.757.862,00 |
8.629.620,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
-857.829,00 |
-1.802.342,00 |
|
III. Received legacies, grants and subventions |
200.801,00 |
154.771,00 |
|
IV. For actuarial profits and losses and other adjustments |
-68.066,00 |
|
|
V. Non-current assets and related liabilities, maintained for sale |
|
|
|
VI. Conversion differences |
|
|
|
VII. Tax effect |
203.026,00 |
461.320,00 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
-522.068,00 |
-1.186.251,00 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
1.879.069,00 |
-138.258,00 |
|
X. Received legacies, grants and subventions |
-78.816,00 |
-80.392,00 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
-504.072,00 |
61.222,00 |
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
1.296.181,00 |
-157.428,00 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-13.983.749,00 |
7.285.941,00 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
EXERCISE RESULT |
(INTERIM DIVIDEND) |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
15.028.005,00 |
40.636.459,00 |
10.113.271,00 |
-600.120,00 |
|
I. Adjustments by change of criteria in the exercise (2007) |
|
970.959,00 |
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
15.028.005,00 |
41.607.418,00 |
10.113.271,00 |
-600.120,00 |
|
I. Total recognized income and expenses |
|
|
8.629.620,00 |
|
|
II. Operations with partners or owners |
|
|
-10.113.271,00 |
|
|
2. (-) Capital reductions |
|
|
-9.513.151,00 |
|
|
4. (-) Dividends distribution |
|
|
-600.120,00 |
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
15.028.005,00 |
51.120.569,00 |
8.629.620,00 |
-600.120,00 |
|
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) |
15.028.005,00 |
51.120.569,00 |
8.629.620,00 |
-600.120,00 |
|
I. Total recognized income and expenses |
|
|
-14.757.862,00 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
7.429.380,00 |
-8.629.620,00 |
600.120,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
15.028.005,00 |
58.549.949,00 |
-14.757.862,00 |
|
|
NET WORTH CHANGES ( 3 /3) |
VALUE CHANGES ADJUSTMENT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
65.177.615,00 |
|
|
I. Adjustments by change of criteria in the exercise (2007) |
127.527,00 |
220.736,00 |
1.319.222,00 |
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
127.527,00 |
220.736,00 |
66.496.837,00 |
|
|
I. Total recognized income and expenses |
-1.397.232,00 |
53.553,00 |
7.285.941,00 |
|
|
II. Operations with partners or owners |
|
|
-600.120,00 |
|
|
2. (-) Capital reductions |
|
|
|
|
|
4. (-) Dividends distribution |
|
|
-600.120,00 |
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-1.269.705,00 |
274.289,00 |
73.182.658,00 |
|
|
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) |
-1.269.705,00 |
274.289,00 |
73.182.658,00 |
|
|
I. Total recognized income and expenses |
735.292,00 |
38.821,00 |
-13.983.749,00 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
-600.120,00 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-534.413,00 |
313.110,00 |
58.598.789,00 |
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
1. exercise result before taxes |
-22.825.934,00 |
-9.515.559,00 |
|
2. Results adjustments |
23.722.305,00 |
29.114.199,00 |
|
a) Amortization of fixed assets (+) |
5.859.039,00 |
5.703.161,00 |
|
b) Value correction for deterioration (+/-) |
8.080.878,00 |
2.898.932,00 |
|
c) Change of Provisions (+/-) |
3.791.602,00 |
8.059.163,00 |
|
d) Grants allocation (-) |
-78.816,00 |
-80.392,00 |
|
e) Results for decline and disposal of fixed assets (+/-) |
1.012.754,00 |
1.413.054,00 |
|
g) Financial income (-) |
-56.488,00 |
-1.015.751,00 |
|
f) Financial expenses (+) |
4.335.009,00 |
7.426.694,00 |
|
i) Change difference (+/-) |
778.327,00 |
3.588.614,00 |
|
j) Reasonable value variation on financial instruments (+/-) |
|
1.120.724,00 |
|
3. Changes in current capital |
30.582.859,00 |
-35.034.129,00 |
|
a) Stocks (+/-) |
24.972.237,00 |
-27.234.945,00 |
|
b) Debtors and other receivable accounts (+/-) |
61.598.782,00 |
3.076.210,00 |
|
c) Other current assets (+/-) |
|
-10.875.394,00 |
|
d) Creditors and other payable accounts (+/-) |
-53.846.335,00 |
|
|
e) Other current liabilities (+/-) |
-2.141.825,00 |
|
|
4. Other cash flow coming from operating activities |
-8.343.782,00 |
-8.655.527,00 |
|
a) Interests payments (-) |
-5.658.488,00 |
-6.892.693,00 |
|
b) Dividends collections (+) |
|
715.630,00 |
|
c) Interests collections (+) |
56.488,00 |
-2.478.464,00 |
|
d) Collections (payments) for profit tax (+/-) |
-2.741.782,00 |
|
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
23.135.448,00 |
-24.091.016,00 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-17.593.727,00 |
-17.293.883,00 |
|
c) Tangible assets |
-14.593.727,00 |
|
|
d) Real state investments |
|
-17.293.883,00 |
|
e) Other financial assets |
-3.000.000,00 |
|
|
7. Disinvestment collections (+) |
|
|
|
8. Cash Flow in investment activities (6 + 7) |
-17.593.727,00 |
-17.293.883,00 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
200.801,00 |
154.771,00 |
|
e) Received legacies, grants and subventions (+) |
200.801,00 |
154.771,00 |
|
10. Financial liabilities instruments collections and payments |
-14.726.015,00 |
31.645.712,00 |
|
a) Issue |
12.524.111,00 |
31.972.124,00 |
|
2. Debts with bank entities (+) |
11.810.000,00 |
|
|
3. Debts with group and associated companies (+) |
|
31.972.124,00 |
|
5. Other debts (+) |
714.111,00 |
|
|
b) Return and amortization of |
-27.250.126,00 |
-326.412,00 |
|
2. Debts with bank entities (-) |
-26.979.322,00 |
|
|
3. Debts with group and associated companies (-) |
-270.804,00 |
|
|
5. Other debts (-) |
|
-326.412,00 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
-600.120,00 |
-600.120,00 |
|
a) Dividends (-) |
-600.120,00 |
|
|
b) Other net worth instruments remuneration (-) |
|
-600.120,00 |
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-15.125.334,00 |
31.200.363,00 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
-9.583.613,00 |
-10.184.536,00 |
|
Cash or equivalents at the beginning of the exercise |
10.725.654,00 |
1.878.982,00 |
|
Cash or equivalents at the end of the exercise |
1.141.951,00 |
10.725.564,00 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
40.288.257,00 |
-43,55 |
71.373.991,00 |
44,91 |
49.255.689,00 |
|
Working capital ratio |
0,24 |
-14,29 |
0,28 |
21,74 |
0,23 |
|
Soundness Ratio |
1,18 |
-44,34 |
2,12 |
-28,62 |
2,97 |
|
Average Collection Period (days) |
94 |
-14,14 |
109 |
-8,98 |
120 |
|
Average Payment Period (days) |
73 |
-26,55 |
99 |
-13,25 |
114 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
149,35 |
1,74 |
146,80 |
10,00 |
133,45 |
|
Quick Ratio (%) |
5,32 |
-31,71 |
7,79 |
456,43 |
1,40 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
39,15 |
20,46 |
32,50 |
43,68 |
22,62 |
|
External Financing Average Cost |
0,06 |
-33,33 |
0,09 |
28,57 |
0,07 |
|
Debt Service Coverage |
2,91 |
183,38 |
-3,49 |
-209,75 |
3,18 |
|
Interest Coverage |
-4,12 |
-245,07 |
2,84 |
-42,28 |
4,92 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
11,40 |
277,85 |
-6,41 |
-249,42 |
4,29 |
|
Auto financing generated by Assets (%) |
13,47 |
244,84 |
-9,30 |
-230,62 |
7,12 |
|
Breakdown Point |
0,92 |
-13,21 |
1,06 |
0,95 |
1,05 |
|
Average Sales Volume per Employee |
276.931,57 |
-38,77 |
452.264,89 |
-2,18 |
462.325,40 |
|
Average Cost per Employee |
46.106,00 |
-25,63 |
61.993,54 |
17,82 |
52.617,45 |
|
Assets Turnover |
1,18 |
-18,62 |
1,45 |
-12,65 |
1,66 |
|
Inventory Turnover (days) |
198 |
53,63 |
129 |
31,62 |
98 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-10,39 |
-230,36 |
7,96 |
3,37 |
7,71 |
|
Operating Profitability (%) |
-8,16 |
-184,82 |
9,62 |
-2,14 |
9,83 |
|
Return on Equity (ROE) (%) |
-38,81 |
-402,49 |
12,83 |
-42,21 |
22,20 |
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 |
29,01 |
57,08 |
-28,07 |
|
A) CURRENT ASSETS |
70,99 |
42,92 |
28,07 |
|
LIABILITIES |
|||
|
A) NET WORTH |
34,12 |
54,48 |
-20,36 |
|
B) NON CURRENT LIABILITIES |
18,35 |
18,76 |
-0,41 |
|
C) CURRENT LIABILITIES |
47,53 |
26,76 |
20,77 |
|
|
|
|
|
Analytical Account
of Results
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,45 |
99,74 |
-0,29 |
|
Other operating income |
0,55 |
0,26 |
0,29 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-57,49 |
-70,17 |
12,68 |
|
Variation in stocks of finished goods and work in progress |
-12,66 |
2,16 |
-14,82 |
|
GROSS MARGIN |
29,85 |
31,98 |
-2,13 |
|
Other operating costs |
-18,17 |
-11,83 |
-6,34 |
|
Labour cost |
-16,56 |
-10,36 |
-6,20 |
|
GROSS OPERATING RESULT |
-4,88 |
9,79 |
-14,67 |
|
Amortization of fixed assets |
-2,87 |
-2,42 |
-0,45 |
|
Deterioration and result for fixed assets disposal |
-0,99 |
-0,01 |
-0,98 |
|
NET OPERATING RESULT |
-8,74 |
7,36 |
-16,10 |
|
Financial result |
-2,44 |
-0,26 |
-2,18 |
|
RESULT BEFORE TAX |
-11,18 |
7,10 |
-18,28 |
|
Taxes on profits |
3,95 |
-1,21 |
5,16 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
-7,23 |
|
|
|
NET RESULT |
-7,23 |
5,89 |
-13,12 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
40.288.257,00 |
15.228.642,50 |
16.828.430,00 |
23.824.120,79 |
|
Working capital ratio |
0,24 |
0,17 |
0,28 |
0,47 |
|
Soundness Ratio |
1,18 |
0,87 |
1,44 |
2,80 |
|
Average Collection Period (days) |
94 |
37 |
62 |
84 |
|
Average Payment Period (days) |
73 |
21 |
33 |
40 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
149,35 |
1,34 |
1,88 |
2,19 |
|
Quick Ratio (%) |
5,32 |
0,01 |
0,06 |
0,33 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
39,15 |
19,74 |
24,71 |
55,41 |
|
External Financing Average Cost |
0,06 |
0,04 |
0,05 |
0,07 |
|
Debt Service Coverage |
2,91 |
0,38 |
2,28 |
7,20 |
|
Interest Coverage |
-4,12 |
2,27 |
4,91 |
11,90 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
11,40 |
3,27 |
6,41 |
7,89 |
|
Auto financing generated by Assets (%) |
13,47 |
6,13 |
9,61 |
12,94 |
|
Breakdown Point |
0,92 |
1,02 |
1,04 |
1,10 |
|
Average Sales Volume per Employee |
276.931,57 |
429.316,14 |
590.634,72 |
735.473,51 |
|
Average Cost per Employee |
46.106,00 |
37.090,80 |
44.980,32 |
49.667,89 |
|
Assets Turnover |
1,18 |
1,17 |
1,52 |
1,90 |
|
Inventory Turnover (days) |
198 |
70 |
106 |
140 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-10,39 |
3,01 |
6,56 |
15,47 |
|
Operating Profitability (%) |
-8,16 |
7,73 |
10,76 |
18,24 |
|
Return on Equity (ROE) (%) |
-38,81 |
4,05 |
13,63 |
22,01 |
ADDITIONAL INFORMATION
Consulted Sources
Tax Administration / VIES Consultation
Tax Administration / Consultation by NIF
INTERNET
Telephone directory: PÁGINAS AMARILLAS
Telephone directory: PÁGINAS BLANCAS
La empresa
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
UK Pound |
1 |
Rs.71.96 |
|
Euro |
1 |
Rs.64.79 |
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.