MIRA INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SILICIO SOLAR |
|
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Registered Office : |
Avenida Roma (Pol Industrial La Nava I), 1 13500 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.01.2001 |
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Legal Form : |
Sole Corporation |
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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 : |
226.000,00 € |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
company Name
SILICIO SOLAR
TAX NUMBER: A91170266
EXECUTIVE SUMMARY
Identification
Current Business Name: SILICIO SOLAR
Other names : NO
Current Address : AVENIDA ROMA (POL INDUSTRIAL LA NAVA I), 1
Branches : 1
Telephone number : 926449200
Fax : 926443403
URL : www.siliciosolar.es
Corporate e-mail : recepcion@siliciosolar.es
Trade Risk
Credit Appraisal: 226.000,00 €
Incidents: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 45.828.724,00 € (Trade Register)
Result: -1.482.404 €
Total Assets: 233.536.776 €
Social Capital: 23.000.000,00 €
Employees: 908
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 19/11/2001
Activity: Casting of non-ferrous metals and
their alloys
NACE 2009 CODE: 2454
International Operations: Imports
Corporate Structure
Sole
Administrator:
Parent Company:
Other Complementary Information
Latest act published in BORME: 04/03/2011 Other concepts
Latest press article: 23/09/2010 ECONOMÍA Y EMPRESAS
DE CASTILLA-LA MANCHA (CORPORATE INFORMATION)
Bank Entities: There are
The date when this report was last updated is 08/03/2011.
The information contained in this report has been investigated and
contrasted on 24/02/2011
Credit Appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 226.000,00 €
Financial Situation
Exercise:2009
|
Treasury |
Good |
|
Indebtedness |
Heavy |
|
Profitability |
Unfavourable |
|
Balance |
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: No significant element.
BANK AND BUSINESS
DEFAULTS OF PAYMENT - ASNEF INDUSTRIAL
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) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
216.300.366,00 |
92,62 |
157.026.919,56 |
77,94 |
70.201.171,00 |
74,25 |
|
B) CURRENT ASSETS |
17.236.410,00 |
7,38 |
44.442.213,71 |
22,06 |
24.341.893,80 |
25,75 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
39.873.524,00 |
17,07 |
38.732.571,52 |
19,23 |
24.405.977,30 |
25,81 |
|
B) NON CURRENT LIABILITIES |
179.273.516,00 |
76,76 |
133.581.501,80 |
66,30 |
58.278.555,50 |
61,64 |
|
C) CURRENT LIABILITIES |
14.389.736,00 |
6,16 |
29.155.059,95 |
14,47 |
11.858.532,00 |
12,54 |
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|
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Balance Sheet Comments
Total assets of the company grew in 15,92%
between 2.008 and 2.009.
This growth is a consequence of non current assets increase
in 37,75%.
This growth has been mainly financed with a debt increase
of 19,00%. Nevertheless Net Worth grew 2,95%.
Total assets of the company grew in 113,10%
between 2.007 and 2.008.
This growth is a consequence of non current assets increase
in 123,68%.
This growth has been mainly financed with a debt increase
of 132,03%. Nevertheless Net Worth grew 58,70%.
Profit and Loss Account Analysis
Figures given in €
|
|
31/12/2009 (12) |
% NET TURNOVER |
31/12/2008 (12) |
% NET TURNOVER |
31/12/2007 (12) |
% NET TURNOVER |
|
SALES |
45.828.724,00 |
|
42.576.952,93 |
|
34.012.864,00 |
|
|
GROSS MARGIN |
39.698.119,00 |
86,62 |
37.679.462,06 |
88,50 |
30.599.359,00 |
89,96 |
|
EBITDA |
5.366.219,00 |
11,71 |
6.387.837,47 |
15,00 |
5.173.467,00 |
15,21 |
|
EBIT |
-965.202,00 |
-2,11 |
874.205,01 |
2,05 |
-323.089,00 |
-0,95 |
|
NET RESULT |
-1.482.404,00 |
-3,23 |
419.540,22 |
0,99 |
565.037,00 |
1,66 |
|
EFFECTIVE TAX RATE (%) |
-30,00 |
0,00 |
27,60 |
0,00 |
50,37 |
0,00 |
Profit and Loss Account Comments
The company’s sales figure grew
in 7,64% between 2.008 and 2.009.
The company’s EBIT decreased
in 210,41% between 2.008 and 2.009.
This evolution implies a reduction in the economic profitability of the
company .
The result of these variations is a decrease of the company’s Operating
Profitability of 27,53% in the analysed period, being this
profitability of 2,29% in the year 2.009.
The Net Result of the company decreased
in 453,34% between 2.008 and 2.009.
The company’s Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 404,82% in the analysed period, being equal to -13,90% in
the year 2.009 .
The company’s sales figure grew
in 25,18% between 2.007 and 2.008.
The company’s EBIT grew
in 370,58% between 2.007 and 2.008.
This evolution implies an increase in the company’s economic
profitability .
The result of these variations is a decrease of the company’s Operating
Profitability of 42,34% in the analysed period, being this
profitability of 3,16% in the year 2.008.
The Net Result of the company decreased
in 25,75% between 2.007 and 2.008.
The company’s Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the company’s economic
profitability of 51,33% in the analysed period, being equal
to 4,56% in the year 2.008 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|
|
|
|
A) NON CURRENT ASSETS |
92,62 |
47,48 |
45,14 |
|
A) CURRENT ASSETS |
7,38 |
52,52 |
-45,14 |
|
LIABILITIES |
|
|
|
|
A) NET WORTH |
17,07 |
35,17 |
-18,10 |
|
B) NON CURRENT LIABILITIES |
76,76 |
18,38 |
58,38 |
|
C) CURRENT LIABILITIES |
6,16 |
46,45 |
-40,29 |
|
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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 |
94,06 |
99,47 |
-5,42 |
|
GROSS MARGIN |
81,47 |
33,86 |
47,62 |
|
EBITDA |
11,01 |
9,26 |
1,76 |
|
EBIT |
-1,98 |
4,28 |
-6,26 |
|
NET RESULT |
-3,04 |
1,85 |
-4,89 |
Sector Composition
Compared sector (NACE 2009): 2454
Number of companies: 8
Size (Sales Figure): > 40,000,000.00 Euros
Comments on the sectorial comparative
Compared to its sector the assets of the companies show a greater
proportion of non current assets. Specifically the difference with the sector
average is 45,14% .
In liabilities composition the company appeals on a smaller scale to
self financing, being the Net Worth proportion 18,10% inferior. As a
consequence, external financing sources are more used by the company
( 18,10% more than the sector) .
The proportion that the sales mean to the company’s total ordinary
income is 94,06% , an 5,42% lower than in the sector .
The company’s EBIT was negative and equal to -1,98% with
regard to the total ordinary income, 6,26% inferior to the one of the
sector .
The company’s capacity to generate operating income is inferior to that
of the sector as its ratio EBIT/Sales is inferior (-0,02 in
comparison with 0,04) .
The company’s net result was negative and equal to -3,04% with
regard to the total ordinary income, 4,89% inferior to the one of the
sector .
The financial results and the tax impact have had a less negative impact
on the net result of the company that in the sector .
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 |
-1.482.404,00 |
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 |
-1.482.404,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
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Compensation of previous exercises losses |
-1.482.404,00 |
|
|
|
Application total |
-1.482.404,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: MGI AUDICON & PARTNERS S.L.
Auditing fees: 22.000,00 €
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:
AVENIDA ROMA (POL INDUSTRIAL LA NAVA I), 1
13500
Previous Seat Address:
CARRETERA NACIONAL 420 (KM 155,7 PG
13500
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE |
28006 |
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|
There are 1 branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Main Board
members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
SOLE ADMINISTRATOR |
PILLAR GROUP BV |
26/09/2008 |
|
|
AUDITOR |
APPOINTMENT DATE |
||
|
MGI AUDICON & PARTNERS SOCIEDA LIMITADA |
04/03/2010 |
||
There
are 2 board members, directors and auditors registered
Board members
remuneration
Source: Annual financial report 2009
Board members remuneration: 0,00 €
Functional Managers
|
POSITION |
NAME AND SURNAME |
|
General Manager |
VEINTCH MAXIM |
|
Financial Director |
BATSCHKUS VERENA |
|
Commercial Director |
BATSCHKUS VERENA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PILLAR GROUP B.V |
|
100,00 |
OWN SOURCES |
24/02/2011 |
CREDIT INFORMATION
Incorporation date: 19/11/2001
Establishment date: 01/01/2001
Founder’s Name: LA TITULAR ES FUNDADORA INICIAL DEL NEGOCIO
Activity: Casting of non-ferrous metals and their alloys
NACE 2009 CODE: 2454
NACE 2009 Activity: Casting of other non-ferrous metals
Business: FABRICACION, INVESTIGACION, COMPRA, VENTA,
INSTALACION, IMPORTACION Y EXPORTACION DE OBLEAS Y LINGOTES DE SILICIO,
ELEMENTOS Y COMPONENTES.
Activity description: FABRICACION Y DISTRIBUCION DE OBLEAS DE
SILICEO
Environmental information: YES (Page 52 -
53) Annual financial report 2009
Latest employees figure: 908 (2011)
% of fixed employees: 82,16%
% of temporary employees: 17,84%
% of men: 75,98%
% of women: 24,02%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
525 |
166 |
COMMERCIAL OPERATIONS
PURCHASES
Imports from: UNION EUROPEA
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
APPLIED MATERIALS |
NO |
|
IBERESE SA |
NO |
|
|
NO |
|
HCT |
NO |
|
GT SOLAR |
NO |
|
UTE VALORIZA GESTION Y TECNICAS REUNIDAS |
NO |
There are 6 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
GLOBAL SUN LTD |
YES |
|
LIONBERG & CO LTD |
YES |
|
UNION FENOSA DISTRIBUCION |
NO |
There are 3 Clients
Sales breakdown
· El 2,71% de su cifra de negocio corresponde a servicios de maquila (prestación de servicios).
· El 0,18% de su cifra de negocio corresponde a servicios de maquila (venta obleas B-Grado).
· El 43,17% de su cifra de negocio corresponde a servicios de maquila (venta de obleas multi).
· El 50,35% de su cifra de negocio corresponde a servicios de maquila (venta de obleas mono).
· El 3,58% de su cifra de negocio corresponde a otras ventas.
Professional and advertising
services
Source: Annual
financial report 2009
Professional
services expenses: 497.383,00 €
Advertising services expenses: 42.564,00 €
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO POPULAR |
|
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|
BARCLAYS BANK, S.A. |
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HSBC BANK PLC, S.E. |
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UNICREDIT BANK AG |
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CAJA DE AHORROS Y M.P. |
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There are 6 bank entities registered
Grants
|
Grant type: For fixed assets acquisition |
Nominal amount: 20.955.703,00 € Amount received in the
exercise: 17.812.347,00 € Amount pending collection:
3.143.355,00 € Source: Filed
Accounts (2009) |
|
Operation description: Organismo otorgante: Ministerio de
industria, turismo y comercio; Instituto para la reestructuración de la
minería del Carbón y Desarrollo Alternativo de las Comarcas Mineras. |
|
|
|
|
|
Grant type: For fixed assets acquisition |
Nominal amount: 3.684.388,00 € Amount received in the
exercise: 552.658,00 € Amount pending collection:
0,00 € Source: Filed
Accounts (2009) |
|
Operation description: Organismo otorgante: Ministerio de
industria, turismo y comercio; Instituto para la reestructuración de la
minería del Carbón y Desarrollo Alternativo de las Comarcas Mineras. |
|
|
|
|
|
Grant type: Other grants (grouped amounts or not
classified) Granting year: 2004 |
Nominal amount: 11.318.357,00 € Amount received in the
exercise: 736.300,00 € Amount pending collection:
4.977.652,00 € Source: Filed
Accounts (2009) |
|
Operation description: Organismo otorgante: Instituto para la
Reestructuración de la Minería |
|
|
|
|
There are 10 grants registered
LEGAL
STRUCTURE
Constitution Data
Register Date: 19/11/2001
Register town:
Announcement number: 6048
Legal form: Sole Corporation
Social
Capital: 23.000.000,00 €
Paid-up capital: 23.000.000,00 €
Obligation to fill
in Financial Statements: YES
Chamber
census: YES (2009)
B.O.R.M.E.
(OFFICIAL COMPANIES
REGISTRY GAZETTE)
· Acts on activity: 0
· Acts on administrators: 26 (Last: 29/11/2010, first: 03/01/2002)
· Acts on capital: 9 (Last: 15/03/2010, first: 29/05/2003)
· Acts on creation: 1 (Last: 03/01/2002)
· Acts on filed accounts: 9 (Last: 14/10/2010, first: 26/05/2003)
· Acts on identification: 5 (Last: 04/02/2009, first: 20/09/2002)
· Acts on Information: 11 (Last: 04/03/2011, first: 29/05/2003)
Latest acts in
B.O.R.M.E.
Most relevant acts of the last twelve months
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Capital enlargement |
15/03/2010 |
107474 |
|
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Other concepts |
04/03/2011 |
99611 |
|
|
Resignations |
29/11/2010 |
440003 |
|
|
Resignations |
24/05/2010 |
206045 |
|
|
Re-elections |
04/03/2010 |
92407 |
|
|
Appointments |
30/10/2009 |
454985 |
|
|
Appointments |
28/09/2009 |
409758 |
|
|
Appointments |
16/02/2009 |
81495 |
|
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
14/10/2010 |
822000 |
|
|
Annual Filed Accounts (2008) |
14/12/2009 |
1006663 |
|
|
Annual Filed Accounts (2007) |
13/06/2008 |
169672 |
|
There are 61 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 3 (Last: 23/09/2010, first: 28/01/2009)
Financial Information: 1 (Last: 19/07/2008)
Negative information: 0
Business lines: 2 (Last: 05/11/2007, first: 02/10/2006)
Historical press releases: 5 (Last: 12/12/2005, first:
22/05/2002)
Latest press article published
23/09/2010 ECONOMÍA Y EMPRESAS DE CASTILLA-LA
MANCHA (Page 12) CORPORATE INFORMATION
SILICIO SOLAR, con sede en
Igualmente, ha alcanzado el compromiso de empleo que mantenía con
distintas instituciones consistente en la creación de 898 puestos de trabajo a
31/08/10.
SILICIO SOLAR cuenta con una plantilla de 908 trabajadores.
27/04/2009 ECONOMÍA Y EMPRESAS DE CASTILLA-LA
MANCHA - CORPORATE INFORMATION
SILICIO SOLAR, CON UNA PLANTA EN
28/01/2009 LA GACETA - CORPORATE INFORMATION
UN TOTAL DE 800 DESEMPLEADOS TIENEN LA POSIBILIDAD DE ENTRAR A FORMAR
PARTE DE LA EMPRESA SILICIO SOLAR, QUE TIENE EN LA ACTUALIDAD UNA PLANTA EN
PUERTOLLANO (CIUDAD REAL) DONDE TRABAJAN MAS DE 600 PERSONAS. ESTA INICIATIVA
SE HA PUESTO EN MARCHA A TRAVES DEL CONVENIO QUE HAN FIRMADO LA CONSEJERA DE
TRABAJO Y EMPLEO Y EL DIRECTOR GRAL. DE LA EMPRESA, CARLOS RELANCIO.
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 31/12/2008 (Deposito 2008) esta disponible en
INFORMA, pero existen datos en los nuevos estados contables incorrectamente
presentados.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.03 |
|
|
1 |
Rs.72.98 |
|
Euro |
1 |
Rs.62.94 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.