MIRA INFORM REPORT
|
Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
COGNIS IBERIA SA |
|
|
|
|
Registered Office : |
Poligono Industrial
Sant Vicenç, S/N,
08755 Castellbisbal Barcelona |
|
|
|
|
Country : |
Spain |
|
|
|
|
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
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
664.481,00 € |
|
Status : |
Moderate |
|
Payment
Behaviour : |
Unknown |
|
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
COGNIS IBERIA SA
TAX NUMBER: A62145172
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: COGNIS IBERIA SA
Other names: YES
Current Address: POLIGONO INDUSTRIAL SANT
VICENÇ, S/N
Branches: 4
Telephone number: 937730000 Fax: 937730150
URL: www.cognis.com
Corporate e-mail: cognis@cognis.es
Trade Risk
Credit Appraisal: 664.481,00 €
Incidents: NO
R.A.I.: NO
Bank and business defaults of payment - ASNEF EMPRESAS: NO
Financial
Information
Balance sheet latest sales (2009): 178.590.000,00 € (Trade
Register)
Result: 7.814.000 €
Total Assets: 88.810.000 €
Social Capital: 3.453.000,00 €
Employees: 361
Listed on a Stock Exchange: NO
Commercial
Information
Incorporation date: 29/12/1999
Activity: Mfg. of chemical products
NACE 2009 CODE: 2059
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: 23/05/2011 Other
concepts
Latest press article: 23/05/2011 LA
VANGUARDIA (LEGAL ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 02/06/2011.
The information contained in this report has been investigated and
contrasted on 02/06/2011
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 664.481,00 €
Financial Situation
Exercise:2009
|
Treasury |
Degraded |
|
Indebtedness |
Average |
|
Profitability |
Average |
|
Balance |
Very Degraded |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Acceptable |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY:
3 Company / Companies in Insolvency Proceedings.
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
13/06/2011 12:06:34
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 |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
40.768,00 |
45,90 |
43.942,00 |
45,78 |
50.190,00 |
43,30 |
|
B) CURRENT ASSETS |
48.042,00 |
54,10 |
52.050,00 |
54,22 |
65.734,00 |
56,70 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
22.082,00 |
24,86 |
14.256,00 |
14,85 |
18.188,00 |
15,69 |
|
B) NON CURRENT LIABILITIES |
4.105,00 |
4,62 |
3.951,00 |
4,12 |
3.764,00 |
3,25 |
|
C) CURRENT LIABILITIES |
62.623,00 |
70,51 |
77.785,00 |
81,03 |
93.972,00 |
81,06 |
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 |
178.590,00 |
|
223.870,00 |
|
232.761,00 |
|
|
GROSS MARGIN |
70.079,00 |
39,24 |
77.702,00 |
34,71 |
89.010,00 |
38,24 |
|
EBITDA |
16.351,00 |
9,16 |
14.563,00 |
6,51 |
16.346,00 |
7,02 |
|
EBIT |
11.123,00 |
6,23 |
3.774,00 |
1,69 |
8.490,00 |
3,65 |
|
NET RESULT |
7.814,00 |
4,38 |
-3.909,00 |
-1,75 |
2.920,00 |
1,25 |
|
EFFECTIVE TAX RATE (%) |
15,16 |
|
-30,85 |
|
18,82 |
|
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total assets |
|
|
|
|
|
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|
|
ASSETS |
|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
45,90 |
57,33 |
-11,42 |
|
|
|
|
|
A) CURRENT ASSETS |
54,10 |
42,67 |
11,42 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
||
|
A) NET WORTH |
24,86 |
43,42 |
-18,55 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
4,62 |
12,51 |
-7,89 |
|
|
|
|
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C) CURRENT LIABILITIES |
70,51 |
44,07 |
26,45 |
|
|
|
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|
|
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|
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|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
|
SALES |
97,86 |
93,33 |
4,53 |
|
|
|
|
|
GROSS MARGIN |
38,40 |
39,11 |
-0,71 |
|
|
|
|
|
EBITDA |
8,96 |
7,68 |
1,28 |
|
|
|
|
|
EBIT |
6,10 |
4,30 |
1,80 |
|
|
|
|
|
NET RESULT |
4,28 |
2,06 |
2,22 |
|
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|
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Sector Composition
Compared sector (NACE 2009): 2059
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 2009
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
7.814.000,00 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
0,00 |
|
Total of Amounts to be distributed |
7.814.000,00 |
Dividends |
1.500.000,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
6.314.000,00 |
|
|
|
Application total |
7.814.000,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: KPMG AUDITORES S.L.
Auditing fees: 90.000,00 €
Company ADDRESSES
Current Legal Seat Address:
POLIGONO INDUSTRIAL SANT VICENÇ, S/N
08755 CASTELLBISBAL BARCELONA
Previous Seat Address:
CALLE CORSEGA 480
08025 BARCELONA
Characteristics of
the current address
Type of establishment: factory
Local Situation: secondary
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLER (DE LA ZONA FRANCA), 42 |
08019 |
BARCELONA |
Barcelona |
|
CALLE ESTACIO ZONA FRANCA, 42 |
08040 |
BARCELONA |
Barcelona |
|
CALLE NUMERO QUARANTA DOS (ZONA FRANCA), - SECTOR E CL
42 |
08040 |
BARCELONA |
Barcelona |
|
AVENIDA JUAN CARLOS I (LORCA), 8 |
30800 |
LORCA |
Murcia |
There are 4 branches registered
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE CORSEGA (492), 480 |
08025 |
BARCELONA |
Barcelona |
|
PASAJE MARINER, 11 |
08025 |
BARCELONA |
Barcelona |
There are 2 former branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
|
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Distribution of the administration board |
|
|
Governing body : 5 members (latest change: 11/05/2011) Other Positions : 28 (latest change: 10/03/2010) Auditor : 1 (latest change: 10/01/2011) Operative Board Members : 3 (latest change: 15/09/2010) Non-current positions : 45 (latest change: 11/05/2011) |
|
|
Main Board members,
Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
WALTER RAUHE, ERWIN PAUL |
11/05/2011 |
|
MEMBER OF THE BOARD |
PONSATI OBIOLS, ORIOL |
11/05/2011 |
|
MEMBER OF THE BOARD |
ENRICO BUTTICE, GUGLIELMO |
11/05/2011 |
|
SECRETARY |
BOU CASTELLA, JOSE LUIS |
11/05/2011 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
KPMG AUDITORES SL |
10/01/2011 |
There are 34 board members, directors and auditors registered
|
POSITION |
NAME AND SURNAME |
|
General Manager |
PONSATI OBIOLS, ORIOL |
|
Financial Manager |
VIDAL MARAGALL, JORDI |
|
Human Resources Director |
RODRIGUEZ, SILVINA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MAFERNAM SA |
A62620463 |
100,00 |
OWN SOURCES |
02/06/2011 |
There are 1 direct financial links through shareholders
registered
Majority shareholder of MAFERNAM SA
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
BASF ESPANOLA SL |
B08200388 |
100,00 |
B.O.R.M.E. |
20/05/2011 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
HENKEL HOLDING BV |
NETHERLANDS |
Indef. |
OWN SOURCES |
13/11/2001 |
|
|
PERMIRA |
|
Indef. |
B.O.R.M.E. |
13/02/2002 |
|
|
GOLDMAN SACHS CAPITAL PARTNERS |
|
Indef. |
B.O.R.M.E. |
13/02/2002 |
You can obtain business information of foreign companies at the
page D&B INTERNATIONAL
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LABORATORIOS DR VINYALS SARL |
FRANCE |
100,00 |
TRADE REG. |
31/12/2001 |
There are 1 direct financial links through participations
registered
You can obtain business information of foreign companies at the
page D&B INTERNATIONAL
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PULCRA IBERICA SL (EXTINGUIDA) |
B62104971 |
100,00 |
OWN SOURCES |
26/01/2001 |
|
|
PRIMACARE S.L. (EXTINGUIDA) |
B61885521 |
100,00 |
B.O.R.M.E. |
25/04/2002 |
|
|
LABORATOIRES SEROBIOLOGIQUES IBERICA SA (EXTINGUIDA) |
A28307692 |
100,00 |
B.O.R.M.E. |
12/03/2002 |
Company with rating inferior to 7
BUSINESS INFORMATION
Incorporation date: 29/12/1999
Establishment date: 01/01/1999
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity: Mfg. of chemical products
NACE 2009 CODE: 2059
NACE 2009 Activity: Manufacture of other chemical products n.e.c.
Business: LA REALIZACION TANTO EN ESPANA COMO EN EL
EXTRANJERO, DE LAS SIGUIENTES ACTIVIDADES. LA FABRICACION Y COMERCIALIZACION DE
PRODUCTOS QUIMICOS ESPECIALMENTE DETERGENTES TENSIOACTIVOS, ETC.
(Enlargement)AMPLIAR A. LA IMPORT-EXPORT., ELABORACION Y
ACONDICIONAMIENTO DE PRODUCTOS COSMETICOS DE HIGIENE, ASI COMO DE MATERIAS PRIMAS
PARA LA INDUSTRIA COSMETICA. EL DISENO, LA INVESTIGACION Y EL DESARROLLO DE
PRODUCTOS QUIMICOS
Activity description: LA ACTIVIDAD CONCRETA ES LA FABRICACION DE
PRODUCTOS QUIMICOS PARA COSMETICOS,DETERGENTES Y LIMPIADORES.
Environmental information: YES (Page 69 -
70) Annual financial report 2009
Latest employees figure: 361 (2011)
% of fixed employees: 95,30%
% of temporary employees: 4,70%
% of men: 71,01%
% of women: 28,99%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
196 |
80 |
COMMERCIAL OPERATIONS
PURCHASES
Imports from: CEE
SALES
Exports to: CEE
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
INDUSTRIAS
QUIMICAS ASOCIADAS |
NO |
|
INEOS OXIDE LTD |
YES |
|
CAILA Y PARES SA |
NO |
|
BASF SE |
YES |
|
ENDESA ENERGIA
SA |
NO |
|
HUNTSMAN HOLLAND
BV |
YES |
|
PALM-OLEO
SDN.BDH |
YES |
There are 7 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
IBERICAN |
NO |
|
COLOMER BEAUTY
AND PRODUCTOS CAPILARES L’OREAL |
YES |
|
SARA LEE
HOUSEHOLD & |
YES |
|
WIN COSMETIC
GMBH & |
YES |
|
PERSAN SA |
NO |
|
HENKEL IBERICA
SA |
NO |
|
BAYER
CROPSCIENCE AG |
YES |
There are 7 Clients
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CITIBANK ESPAÑA, S.A. |
|
|
BARCELONA |
|
|
BANCO DE SABADELL, S.A. |
|
|
BARCELONA |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
BARCELONA |
|
There are 3 bank entities registered
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
MORE THAN 5 YEARS |
|
|
Equipos informáticos |
90.000,00 |
0,00 |
0,00 |
There are 1 leasing operations registered
FORMER NAMES:
•
COGNIS IBERIA SL
•
PULCRA HOLDING PRODUCTOS QUIMICOS SL
Brand name: PRIMACARE (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 21/12/2001
Brand name: HISPASIL (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 03/08/2000
Brand name: BUBLEX (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 19/07/2000
Brand name: ACROPYR (Valid)
Type: DENOMINATIVE Scope: INTERNATIONAL
Date: 17/11/1988
Brand name: FITOLANE (Valid)
Type: DENOMINATIVE Scope: INTERNATIONAL
Date: 09/10/1987
There are 32 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 29/12/1999
Register town: Barcelona
Announcement number: 104841
Social Capital: 3.006 €
Legal form: Joint-stock Company
Social Capital: 3.453.000,00 €
Paid-up capital: 3.453.000,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES
REGISTRY GAZETTE)
Acts on activity: 1 (Last: 25/04/2002)
Acts on administrators: 96 (Last: 23/05/2011, first:
16/03/2000)
Acts on capital: 1 (Last: 18/12/2000)
Acts on creation: 1 (Last: 16/03/2000)
Acts on filed accounts: 11 (Last: 22/12/2010, first:
21/07/2000)
Acts on identification: 3 (Last: 19/07/2007, first:
19/04/2000)
Acts on Information: 8 (Last: 23/05/2011, first:
16/03/2000)
Acts on proceedings: 5 (Last: 23/05/2011, first:
21/12/2000)
Latest acts in
B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Company’s mergers and takeovers |
23/05/2011 |
18762 |
|
|
|
|
Anuncio de fusión por absorción. De conformidad con lo dispuesto
en el artículo 43 de la Ley
3/2009, de 3 de abril, sobre
modificaciones estructurales
de las sociedades mercantiles, se hace público que los
respectivos socios únicos de Basf Española, S.L. U., Mafernam,
S.A.U. y Cognis Iberia, S.A. U., han decidido en fecha 18 de mayo de 2011, la fusión
por absorción de Mafernam, S.A.U. y Cognis
Iberia, S.A.U. (como sociedades
absorbidas) por Basf Española, S.L.U. (como sociedad absorbente), con la disolución
sin liquidación de Mafernam,
S.A.U. y Cognis Iberia, S.A.U. y la transmisión en bloque de sus patrimonios sociales a Basf Española, S.L. U., que adquirirá por sucesión universal todos los derechos y obligaciones de las sociedades absorbidas. La fusión se acordó,
de conformidad con lo establecido
en el artículo 42 de la Ley
3/2009, de 3 de abril, sobre
modificaciones estructurales
de las sociedades mercantiles, y cumpliéndose los requisitos en éste señalados, sin haber elaborado ni Proyecto ni
Balances de Fusión. Se hace constar,
de conformidad con el artículo
43 de la Ley 3/2009, de 3 de abril,
sobre modificaciones estructurales de las sociedades mercantiles, el derecho que asiste
a los socios y acreedores de obtener el texto íntegro de los acuerdos adoptados, así como el derecho de oposición que corresponde a los acreedores, en los términos previstos en el artículo 44 de la mencionada Ley, durante el plazo de un mes contado desde la fecha del último anuncio del acuerdo de fusión. Tarragona, Barcelona, 19 de mayo de 2011.-Don Joan Vila Vila, Secretario del Consejo de Administración de Basf Española S.L. U., Dr.
Erwin Rauhe, Administrador
Único de Mafernam, S.A.
U., don José Luís Bou Castellà, Secretario del Consejo de Administración de Cognis Iberia S.A. U. Register Data: Inscription ID: A110042167- 1 Publication Data:
Gazette 97, Page 20282, Announcement 18762 (23/05/2011) |
|||
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Other concepts |
23/05/2011 |
217874 |
Barcelona |
|
Modification of the Articles of Association |
23/05/2011 |
217874 |
Barcelona |
|
Appointments |
23/05/2011 |
217874 |
Barcelona |
|
Resignations |
23/05/2011 |
217874 |
Barcelona |
|
Appointments |
10/01/2011 |
7685 |
Barcelona |
|
Appointments |
10/03/2010 |
100712 |
Barcelona |
|
Appointments |
23/11/2009 |
487893 |
Barcelona |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
22/12/2010 |
1162606 |
Barcelona |
|
Annual Filed Accounts (2008) |
26/10/2009 |
737557 |
Barcelona |
|
Annual Filed Accounts (2007) |
28/11/2008 |
1149764 |
Barcelona |
There are 126 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 1 (Last: 23/05/2011)
Structural Data: 2 (Last: 24/06/2010, first: 23/06/2010)
Informative data: 1 (Last: 06/03/2009)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 7 (Last: 13/11/2001, first:
15/05/2000)
Latest press
article published
23/05/2011 LA VANGUARDIA (Page 71) LEGAL
ANNOUNCEMENTS
Los socios únicos de
BASF ESPAÑOLA SL (Sdad. Absorbente)
y de MAFERNAM SA y COGNIS IBERIA SA (Sdades. Absorbidas) han decidido, en fecha 18/05/11, su fusión por
absorción.
24/06/2010 NEGOCIO (Page 12) SHAREHOLDERS
AND HOLDINGS
Basf SE ha comunicado
la firma de un acuerdo para
la compra de Cognis. El
valor de la transacción asciende
a 3.100 millones, incluyendo
la deuda financiera y los planes de pensiones. De esta cantidad, 700 millones se destinarán a la compra de acciones a Cognis Holding Luxemburgo, controlado por los fondos Permira,
GS Capital Partners y SV Life Sciences. Cognis, que cuenta con 62 centros de producción en 30 países, posee 2 centros en Barcelona (España). La
compra de Cognis precisa de la aprobación de las autoridades europeas de la competencia. Una vez se proceda
a la compra, la producción
de Cognis se integrará en
el área de Perfomance
Products de BASF.
23/06/2010 EL PERIÓDICO DE
CATALUNYA (Page 47) SHAREHOLDERS AND HOLDINGS
Erwin Rahue, vicepresidente
y consejero delegado de Basf Española, ha eludido pronunciarse sobre las noticias
que apuntan a que Basf está
a punto de culminar la compra de Cognis, una Cía. con dos fábricas en Catalunya.
06/03/2009 OTROS PRENSA - GENERAL INFORMATION
EL PROVEEDOR DE QUIMICOS DE ESPECIALIDAD COGNIS FIRMO, EL 20/02/09, UN ACUERDO
DE VENTA DE SU NEGOCIO DE EXTRACTOS BOTANICOS A BURGUNDY BOTANICAL EXTRACTS
IBERIA, S.A. (BURGUNDY) QUE HA SIDO COMPLETADO EN ESTOS DIAS. COGNIS VENDIO
ESTA UNIDAD DE NEGOCIO CON EL OBJETIVO DE HACER MAS EFICIENTE SU CARTERA EN EL
NEGOCIO, PARA OFRECER SINERGIAS COMPETITIVAS EN SUS MERCADOS CLAVES. BURGUNDY,
ESPECIALIZADA EN EL NEGOCIO DE EXTRACTOS BOTANICOS, CUENTA CON OFICINAS
CENTRALES EN REYSSOUZE (FRANCIA). LA CIA. ES PROPIEDAD DE CRISTAL UNION GROUP
YD HOLDING FINANCIERE MACONNAISE (HFM).
13/11/2001 EXPANSIÓN - SHAREHOLDERS AND HOLDINGS
EL GRUPO ALEMAN HENKEL HA VENDIDO SU FILIAL DE QUIMICA ESPECIALIZADA
COGNIS A PERMIRA (LA ANTIGUA SCHRODER VENTURES) Y GOLDMAN SACHS CAPITAL
PARTNERS POR 2.500 MM. DE EUROS, 100 MM. DE EUROS MENOS DE LO ACORDADO
INICIALMENTE.
There are 11 press articles registered for this company
Complementary
Information
Financial Information
El balance cerrado a 31/12/2009 (Deposito 2009) esta disponible en INFORMA, pero existen datos en los nuevos estados
contables incorrectamente presentados.
El balance cerrado a 31/12/2009 (Deposito 2009) esta disponible en INFORMA, pero existen datos en los nuevos estados
contables incorrectamente presentados.
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 30/11/2010.
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 |
40.768,00 |
45,90 |
43.942,00 |
45,78 |
50.190,00 |
43,30 |
|
I. Intangible assets |
1.313,00 |
1,48 |
2.079,00 |
2,17 |
4.445,00 |
3,83 |
|
3. Patents, licences , trademarks and similars |
5,00 |
0,01 |
11,00 |
0,01 |
|
|
|
4. Goodwill |
1.228,00 |
1,38 |
1.228,00 |
1,28 |
|
|
|
5. Software |
80,00 |
0,09 |
840,00 |
0,88 |
|
|
|
II. Tangible fixed assets |
36.017,00 |
40,56 |
38.722,00 |
40,34 |
44.566,00 |
38,44 |
|
1. Property, plant and equipment |
24.609,00 |
27,71 |
26.354,00 |
27,45 |
|
|
|
2. Technical fittings and other tangible assets |
8.946,00 |
10,07 |
8.332,00 |
8,68 |
|
|
|
3. Fixed assets in progress and advances |
2.462,00 |
2,77 |
4.036,00 |
4,20 |
|
|
|
III. Real-estate investments |
2.453,00 |
2,76 |
507,00 |
0,53 |
|
|
|
1. Lands |
1.622,00 |
1,83 |
507,00 |
0,53 |
|
|
|
2. Buildings |
831,00 |
0,94 |
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
|
|
|
|
1.069,00 |
0,92 |
|
1. Net worth instruments |
|
|
|
|
1.069,00 |
0,92 |
|
V. Long Term Financial Investments |
|
|
|
|
110,00 |
0,09 |
|
5. Other financial assets |
|
|
|
|
110,00 |
0,09 |
|
VI. Assets by deferred taxes |
985,00 |
1,11 |
2.634,00 |
2,74 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
48.042,00 |
54,10 |
52.050,00 |
54,22 |
65.734,00 |
56,70 |
|
I. Non-current assets maintained for sale |
|
|
1.410,00 |
1,47 |
|
|
|
II. Stocks |
10.610,00 |
11,95 |
12.221,00 |
12,73 |
15.393,00 |
13,28 |
|
1. Goods available for sale |
789,00 |
0,89 |
1.119,00 |
1,17 |
|
|
|
2. Raw material inventory |
3.415,00 |
3,85 |
3.734,00 |
3,89 |
|
|
|
3. Work in Progress |
2.066,00 |
2,33 |
2.920,00 |
3,04 |
|
|
|
b) Short production cycle |
2.066,00 |
2,33 |
2.920,00 |
3,04 |
|
|
|
4. Finished goods |
4.340,00 |
4,89 |
4.448,00 |
4,63 |
|
|
|
b) Short production cycle |
4.340,00 |
4,89 |
4.448,00 |
4,63 |
|
|
|
III. Trade Debtors and other receivable accounts |
34.569,00 |
38,92 |
37.786,00 |
39,36 |
49.641,00 |
42,82 |
|
1. Clients |
30.267,00 |
34,08 |
32.073,00 |
33,41 |
39.372,00 |
33,96 |
|
b) Clients for sales and short term services
rendering |
30.267,00 |
34,08 |
32.073,00 |
33,41 |
|
|
|
2. Clients group and associated companies |
4.144,00 |
4,67 |
3.772,00 |
3,93 |
8.539,00 |
7,37 |
|
3. Other debts |
86,00 |
0,10 |
114,00 |
0,12 |
135,00 |
0,12 |
|
4. Staff |
59,00 |
0,07 |
220,00 |
0,23 |
|
|
|
6. Other credits with the Public Administrations |
13,00 |
0,01 |
1.607,00 |
1,67 |
1.595,00 |
1,38 |
|
IV. Short term investments in associated and affiliated companies |
1.935,00 |
2,18 |
|
|
|
|
|
2. Credits to companies |
1.935,00 |
2,18 |
|
|
|
|
|
V. Short term financial investments |
|
|
|
|
|
|
|
VI. Short term periodifications |
62,00 |
0,07 |
127,00 |
0,13 |
61,00 |
0,05 |
|
VII. Cash and equivalents |
866,00 |
0,98 |
506,00 |
0,53 |
639,00 |
0,55 |
|
1. Treasury |
866,00 |
0,98 |
506,00 |
0,53 |
639,00 |
0,55 |
|
TOTAL ASSETS (A + B) |
88.810,00 |
100,00 |
95.992,00 |
100,00 |
115.924,00 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process “Goodwill”
have been identified for which there are not enough information so as to conclude
whether or not value deterioration adjustments are necessaries for this
exercise, nor could it be identified the amortization expenses for the
mentioned exercise. The amount of the Goodwill at the closing of the subsequent
exercise reaches %1.
In the conversion
process part of the item “Property, plant and equipment” that under PGC2007
should be classified within the item “Real-estate Investments” that in the
subsequent exercise presents a balance of %1.
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 of the
financial statements presented under PGC90 there could not be identified the
existence of assets fulfilling the requirements to be classified as “Maintained
for sale”.
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.
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 |
22.082,00 |
24,86 |
14.256,00 |
14,85 |
18.188,00 |
15,69 |
|
A-1) Equity |
22.082,00 |
24,86 |
14.256,00 |
14,85 |
18.188,00 |
15,69 |
|
I. Capital |
3.453,00 |
3,89 |
3.453,00 |
3,60 |
3.453,00 |
2,98 |
|
1. Authorized capital |
3.453,00 |
3,89 |
3.453,00 |
3,60 |
3.453,00 |
2,98 |
|
II. Issue premium |
14.182,00 |
15,97 |
14.182,00 |
14,77 |
14.182,00 |
12,23 |
|
III. Reserves |
3.531,00 |
3,98 |
3.519,00 |
3,67 |
3.289,00 |
2,84 |
|
1. Legal and statutory |
690,00 |
0,78 |
690,00 |
0,72 |
438,00 |
0,38 |
|
2. Other funds |
2.841,00 |
3,20 |
2.829,00 |
2,95 |
2.851,00 |
2,46 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
-6.898,00 |
-7,77 |
-2.989,00 |
-3,11 |
-5.656,00 |
-4,88 |
|
2. (Prior years losses) |
-6.898,00 |
-7,77 |
-2.989,00 |
-3,11 |
-5.656,00 |
-4,88 |
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
7.814,00 |
8,80 |
-3.909,00 |
-4,07 |
2.920,00 |
2,52 |
|
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 |
|
|
|
|
|
|
|
B) NON CURRENT LIABILITIES |
4.105,00 |
4,62 |
3.951,00 |
4,12 |
3.764,00 |
3,25 |
|
I. Long term provisions |
22,00 |
0,02 |
9,00 |
0,01 |
|
|
|
1. Long term staff benefits obligations |
22,00 |
0,02 |
9,00 |
0,01 |
|
|
|
II. Long term debts |
3.830,00 |
4,31 |
3.689,00 |
3,84 |
3.511,00 |
3,03 |
|
5. Other financial liabilities |
3.830,00 |
4,31 |
3.689,00 |
3,84 |
3.511,00 |
3,03 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
|
|
|
|
|
|
|
V. Long term periodifications |
253,00 |
0,28 |
253,00 |
0,26 |
253,00 |
0,22 |
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
62.623,00 |
70,51 |
77.785,00 |
81,03 |
93.972,00 |
81,06 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
150,00 |
0,17 |
|
|
|
|
|
III. Short term debts |
87,00 |
0,10 |
|
|
|
|
|
3. Financial leasing creditors |
87,00 |
0,10 |
|
|
|
|
|
IV. Short term debts with associated and affiliated companies |
35.131,00 |
39,56 |
44.318,00 |
46,17 |
|
|
|
V. Trade creditors and other payable accounts |
27.255,00 |
30,69 |
33.467,00 |
34,86 |
93.972,00 |
81,06 |
|
1. Suppliers |
22.763,00 |
25,63 |
28.699,00 |
29,90 |
31.360,00 |
27,05 |
|
b) Short term suppliers |
22.763,00 |
25,63 |
28.699,00 |
29,90 |
|
|
|
2. Suppliers group and associated companies |
1.846,00 |
2,08 |
2.341,00 |
2,44 |
59.550,00 |
51,37 |
|
4. Staff (pending remunerations) |
1.997,00 |
2,25 |
1.771,00 |
1,84 |
2.236,00 |
1,93 |
|
6. Other debts with Public Administrations |
649,00 |
0,73 |
656,00 |
0,68 |
826,00 |
0,71 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
88.810,00 |
100,00 |
95.992,00 |
100,00 |
115.924,00 |
100,00 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to
non-commercial debts has changed and, for this reason the conversion of
financial statements of the formulation exercise of the accounts to PGC2007
could include certain inaccuracies.
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) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
178.590,00 |
97,86 |
223.870,00 |
97,59 |
232.761,00 |
99,03 |
|
A) Sales |
176.588,00 |
96,77 |
220.331,00 |
96,05 |
232.761,00 |
99,03 |
|
b) Services provided |
2.002,00 |
1,10 |
3.539,00 |
1,54 |
|
|
|
2. Variation in stocks of finished goods and work in progress |
-973,00 |
-0,53 |
-2.338,00 |
-1,02 |
-3.830,00 |
-1,63 |
|
3. Works for its own assets |
|
|
13,00 |
0,01 |
71,00 |
0,03 |
|
4. Supplies |
-111.437,00 |
-61,07 |
-149.363,00 |
-65,11 |
-142.193,00 |
-60,50 |
|
a) Material consumed |
-15.371,00 |
-8,42 |
-19.605,00 |
-8,55 |
-29.862,00 |
-12,71 |
|
b) Raw materials consumed |
-95.898,00 |
-52,55 |
-128.356,00 |
-55,95 |
-112.530,00 |
-47,88 |
|
c) Works carried out for other companies |
-166,00 |
-0,09 |
-891,00 |
-0,39 |
-755,00 |
-0,32 |
|
d) Deterioration on merchandises, raw materials and other supplies |
-2,00 |
0,00 |
-511,00 |
-0,22 |
954,00 |
0,41 |
|
5. Other operating income |
3.899,00 |
2,14 |
5.520,00 |
2,41 |
2.201,00 |
0,94 |
|
a) Other incomes |
3.899,00 |
2,14 |
5.520,00 |
2,41 |
2.201,00 |
0,94 |
|
6. Labour cost |
-19.354,00 |
-10,61 |
-22.310,00 |
-9,73 |
-24.672,00 |
-10,50 |
|
a) Wages and similar expenses |
-15.236,00 |
-8,35 |
-17.418,00 |
-7,59 |
|
|
|
b) Social costs |
-4.149,00 |
-2,27 |
-4.832,00 |
-2,11 |
|
|
|
c) Provisions |
31,00 |
0,02 |
-60,00 |
-0,03 |
|
|
|
7. Other operating costs |
-34.404,00 |
-18,85 |
-41.736,00 |
-18,19 |
-48.333,00 |
-20,56 |
|
a) External services |
-31.464,00 |
-17,24 |
-37.060,00 |
-16,15 |
-45.470,00 |
-19,35 |
|
b) Taxes |
-775,00 |
-0,42 |
-1.026,00 |
-0,45 |
-956,00 |
-0,41 |
|
c) Losses, deterioration and variation on business operations
provisions |
-101,00 |
-0,06 |
-374,00 |
-0,16 |
-1.410,00 |
-0,60 |
|
d) Other day to day expenses |
-2.064,00 |
-1,13 |
-3.276,00 |
-1,43 |
-497,00 |
-0,21 |
|
8. Amortization of fixed assets |
-5.125,00 |
-2,81 |
-5.581,00 |
-2,43 |
-6.668,00 |
-2,84 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
-73,00 |
-0,04 |
-4.301,00 |
-1,87 |
-847,00 |
-0,36 |
|
a) Deteriorations and losses |
|
|
-4.323,00 |
-1,88 |
-732,00 |
-0,31 |
|
b) Results for disposals and others |
-73,00 |
-0,04 |
22,00 |
0,01 |
-115,00 |
-0,05 |
|
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) |
11.123,00 |
6,10 |
3.774,00 |
1,65 |
8.490,00 |
3,61 |
|
14. Financial income |
196,00 |
0,11 |
289,00 |
0,13 |
12,00 |
0,01 |
|
b) From negotiable values and other financial instruments |
196,00 |
0,11 |
289,00 |
0,13 |
12,00 |
0,01 |
|
b 1) From group and associated companies |
2,00 |
0,00 |
97,00 |
0,04 |
|
|
|
b 2) From third parties |
194,00 |
0,11 |
192,00 |
0,08 |
12,00 |
0,01 |
|
15. Financial expenses |
-2.054,00 |
-1,13 |
-3.810,00 |
-1,66 |
-4.787,00 |
-2,04 |
|
a) For debts with associated and affiliated companies |
-1.862,00 |
-1,02 |
-3.632,00 |
-1,58 |
-3.853,00 |
-1,64 |
|
b) For debts with third parties |
-2,00 |
0,00 |
|
|
-934,00 |
-0,40 |
|
c) For provisions update |
-190,00 |
-0,10 |
-178,00 |
-0,08 |
|
|
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
-55,00 |
-0,03 |
19,00 |
0,01 |
-118,00 |
-0,05 |
|
18. Deterioration and result for disposal of financial instruments |
|
|
-5.925,00 |
-2,58 |
|
|
|
a) Deteriorations and losses |
|
|
-5.925,00 |
-2,58 |
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-1.913,00 |
-1,05 |
-9.427,00 |
-4,11 |
-4.893,00 |
-2,08 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
9.210,00 |
5,05 |
-5.653,00 |
-2,46 |
3.597,00 |
1,53 |
|
20. Taxes on profits |
-1.396,00 |
-0,76 |
1.744,00 |
0,76 |
-677,00 |
-0,29 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
7.814,00 |
4,28 |
-3.909,00 |
-1,70 |
2.920,00 |
1,24 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
7.814,00 |
4,28 |
-3.909,00 |
-1,70 |
2.920,00 |
1,24 |
Alerts associated to the conversion to PGC2007
Valuation norms with relation to
“Deteriorations and losses of fixed assets” have had notable modifications and,
for this reason the conversion process might contain certain 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.
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 |
7.814,00 |
-3.909,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
|
|
|
IV. For actuarial profits and losses and other adjustments |
18,00 |
-31,00 |
|
V. Non-current assets and related liabilities, maintained for sale |
|
|
|
VI. Conversion differences |
|
|
|
VII. Tax effect |
-6,00 |
9,00 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
12,00 |
-22,00 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
|
|
|
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) |
|
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
7.826,00 |
-3.931,00 |
Total net worth
changes status
Figures given in thousands €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
RESULTS FROM PREVIOUS EXERCISES |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
3.453,00 |
14.182,00 |
3.289,00 |
-5.657,00 |
|
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) |
3.453,00 |
14.182,00 |
3.289,00 |
-5.657,00 |
|
I. Total recognized income and expenses |
|
|
-22,00 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
252,00 |
2.668,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
3.453,00 |
14.182,00 |
3.519,00 |
-2.989,00 |
|
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) |
3.453,00 |
14.182,00 |
3.519,00 |
-2.989,00 |
|
I. Total recognized income and expenses |
|
|
12,00 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
-3.909,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
3.453,00 |
14.182,00 |
3.531,00 |
-6.898,00 |
|
NET WORTH CHANGES ( 3 /3) |
EXERCISE RESULT |
TOTAL |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
2.920,00 |
18.187,00 |
|
|
|
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) |
2.920,00 |
18.187,00 |
|
|
|
I. Total recognized income and expenses |
-3.909,00 |
-3.931,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
-2.920,00 |
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-3.909,00 |
14.256,00 |
|
|
|
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) |
-3.909,00 |
14.256,00 |
|
|
|
I. Total recognized income and expenses |
|
12,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
11.723,00 |
7.814,00 |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
7.814,00 |
22.082,00 |
|
|
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 |
9.210,00 |
-5.653,00 |
|
2. Results adjustments |
7.170,00 |
22.429,00 |
|
a) Amortization of fixed assets (+) |
5.125,00 |
5.581,00 |
|
b) Value correction for deterioration (+/-) |
114,00 |
7.424,00 |
|
e) Results for decline and disposal of fixed assets (+/-) |
73,00 |
-22,00 |
|
f) Results for decline and disposal of financial instruments (+/-) |
|
5.925,00 |
|
g) Financial income (-) |
-196,00 |
-289,00 |
|
f) Financial expenses (+) |
2.054,00 |
3.810,00 |
|
3. Changes in current capital |
-1.689,00 |
4.696,00 |
|
a) Stocks (+/-) |
1.611,00 |
245,00 |
|
b) Debtors and other receivable accounts (+/-) |
3.181,00 |
10.901,00 |
|
d) Creditors and other payable accounts (+/-) |
-6.481,00 |
-6.450,00 |
|
4. Other cash flow coming from operating activities |
-1.860,00 |
-3.729,00 |
|
a) Interests payments (-) |
-1.862,00 |
-3.486,00 |
|
c) Interests collections (+) |
2,00 |
101,00 |
|
d) Collections (payments) for profit tax (+/-) |
|
-344,00 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
12.831,00 |
17.743,00 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-3.171,00 |
-9.276,00 |
|
a) Group and associated companies |
|
-5.500,00 |
|
b) Intangible assets |
|
-4,00 |
|
c) Tangible assets |
-3.171,00 |
-3.772,00 |
|
7. Disinvestment collections (+) |
1.500,00 |
1.140,00 |
|
a) Group and associated companies |
|
643,00 |
|
c) Tangible assets |
|
386,00 |
|
e) Other financial assets |
|
111,00 |
|
f) Non-current assets maintained for sale |
1.500,00 |
|
|
8. Cash Flow in investment activities (6 + 7) |
-1.671,00 |
-8.136,00 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
|
|
|
10. Financial liabilities instruments collections and payments |
-10.811,00 |
-9.717,00 |
|
a) Issue |
|
5.500,00 |
|
3. Debts with group and associated companies (+) |
|
5.500,00 |
|
b) Return and amortization of |
-10.811,00 |
-15.217,00 |
|
3. Debts with group and associated companies (-) |
-10.811,00 |
-15.217,00 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
11,00 |
-23,00 |
|
b) Other net worth instruments remuneration (-) |
11,00 |
-23,00 |
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-10.800,00 |
-9.740,00 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
360,00 |
-133,00 |
|
Cash or equivalents at the beginning of the exercise |
506,00 |
639,00 |
|
Cash or equivalents at the end of the exercise |
866,00 |
506,00 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
-14.581,00 |
43,34 |
-25.735,00 |
8,86 |
-28.238,00 |
|
Working capital ratio |
-0,16 |
40,74 |
-0,27 |
-12,50 |
-0,24 |
|
Soundness Ratio |
0,54 |
68,75 |
0,32 |
-11,11 |
0,36 |
|
Average Collection Period (days) |
70 |
14,79 |
61 |
-20,66 |
77 |
|
Average Payment Period (days) |
154 |
5,16 |
147 |
-17,44 |
177 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
76,72 |
14,64 |
66,92 |
-4,33 |
69,95 |
|
Quick Ratio (%) |
1,38 |
112,31 |
0,65 |
-4,41 |
0,68 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
43,97 |
-12,08 |
50,01 |
1.550,50 |
3,03 |
|
External Financing Average Cost |
0,05 |
-37,50 |
0,08 |
-94,12 |
1,36 |
|
Debt Service Coverage |
3,04 |
12,18 |
2,71 |
632,43 |
0,37 |
|
Interest Coverage |
5,42 |
447,47 |
0,99 |
-44,07 |
1,77 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
7,18 |
-9,33 |
7,93 |
92,48 |
4,12 |
|
Auto financing generated by Assets (%) |
14,45 |
-21,81 |
18,48 |
123,46 |
8,27 |
|
Breakdown Point |
1,07 |
4,90 |
1,02 |
-1,92 |
1,04 |
|
Average Sales Volume per Employee |
492,87 |
-10,61 |
551,40 |
-1,69 |
560,87 |
|
Average Cost per Employee |
53,41 |
-2,80 |
54,95 |
-7,57 |
59,45 |
|
Assets Turnover |
2,01 |
-13,73 |
2,33 |
15,92 |
2,01 |
|
Inventory Turnover (days) |
34 |
15,85 |
30 |
-24,07 |
39 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
12,52 |
218,58 |
3,93 |
-46,31 |
7,32 |
|
Operating Profitability (%) |
18,21 |
245,54 |
5,26 |
-57,33 |
12,34 |
|
Return on Equity (ROE) (%) |
41,71 |
205,20 |
-39,65 |
-300,46 |
19,78 |
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 |
45,90 |
57,33 |
-11,42 |
|
A) CURRENT ASSETS |
54,10 |
42,67 |
11,42 |
|
LIABILITIES |
|||
|
A) NET WORTH |
24,86 |
43,42 |
-18,55 |
|
B) NON CURRENT LIABILITIES |
4,62 |
12,51 |
-7,89 |
|
C) CURRENT LIABILITIES |
70,51 |
44,07 |
26,45 |
|
|
|
|
|
Analytical Account
of Results
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
97,86 |
93,33 |
4,53 |
|
Other operating income |
2,14 |
6,67 |
-4,53 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-61,07 |
-61,04 |
-0,03 |
|
Variation in stocks of finished goods and work in progress |
-0,53 |
0,14 |
-0,68 |
|
GROSS MARGIN |
38,40 |
39,11 |
-0,71 |
|
Other operating costs |
-18,85 |
-19,90 |
1,05 |
|
Labour cost |
-10,61 |
-11,59 |
0,98 |
|
GROSS OPERATING RESULT |
8,94 |
7,61 |
1,33 |
|
Amortization of fixed assets |
-2,81 |
-3,28 |
0,47 |
|
Deterioration and result for fixed assets disposal |
-0,04 |
-0,03 |
-0,01 |
|
NET OPERATING RESULT |
6,10 |
4,30 |
1,80 |
|
Financial result |
-1,05 |
-0,86 |
-0,19 |
|
RESULT BEFORE TAX |
5,05 |
3,44 |
1,61 |
|
Taxes on profits |
-0,76 |
-1,38 |
0,62 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
4,28 |
|
|
|
NET RESULT |
4,28 |
2,06 |
2,22 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
-14.581,00 |
3.603,75 |
13.726,32 |
25.614,03 |
|
Working capital ratio |
-0,16 |
0,06 |
0,14 |
0,37 |
|
Soundness Ratio |
0,54 |
0,52 |
0,92 |
2,57 |
|
Average Collection Period (days) |
70 |
79 |
113 |
140 |
|
Average Payment Period (days) |
154 |
30 |
64 |
85 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
76,72 |
1,12 |
1,53 |
2,28 |
|
Quick Ratio (%) |
1,38 |
0,01 |
0,11 |
0,64 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
43,97 |
10,24 |
24,36 |
50,07 |
|
External Financing Average Cost |
0,05 |
0,04 |
0,05 |
0,07 |
|
Debt Service Coverage |
3,04 |
0,06 |
1,94 |
5,95 |
|
Interest Coverage |
5,42 |
1,06 |
2,05 |
18,03 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
7,18 |
0,90 |
6,80 |
8,32 |
|
Auto financing generated by Assets (%) |
14,45 |
1,04 |
8,07 |
11,68 |
|
Breakdown Point |
1,07 |
1,01 |
1,04 |
1,09 |
|
Average Sales Volume per Employee |
492,87 |
372,08 |
478,12 |
793,64 |
|
Average Cost per Employee |
53,41 |
51,78 |
60,62 |
67,82 |
|
Assets Turnover |
2,01 |
0,76 |
1,15 |
1,81 |
|
Inventory Turnover (days) |
34 |
24 |
61 |
75 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
12,52 |
1,35 |
4,97 |
8,18 |
|
Operating Profitability (%) |
18,21 |
4,00 |
9,19 |
13,47 |
|
Return on Equity (ROE) (%) |
41,71 |
-1,70 |
13,90 |
19,10 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
|
UK Pound |
1 |
Rs.73.05 |
|
Euro |
1 |
Rs.64.29 |
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.