MIRA INFORM REPORT
|
Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
TECNICAS HIDRAULICAS SA |
|
|
|
|
Registered Office : |
Calle Aritz Bidea (Apartado 17), 65, 48100 Mungia
Vizcaya |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
|
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of machinery |
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 : |
326.001,00 € |
|
Status : |
Good |
|
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
TECNICAS HIDRAULICAS SA
TAX NUMBER: A48520134
EXECUTIVE SUMMARY
Identification
Current Business Name: TECNICAS HIDRAULICAS SA
Commercial Name: TH MINERALS
Other names: YES
Current Address: CALLE ARITZ BIDEA (APARTADO
17), 65
Telephone number: 946740500 Fax: 946744910
URL: www.thsa.com
Corporate e-mail: info@thsa.com
Trade Risk
Credit Appraisal: 326.001,00 €
Incidents: NO
R.A.I.: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 10.731.107,51 € (Trade Register)
Result: 910.976,56 €
Total Assets: 14.679.553,07 €
Social Capital: 2.665.416,56 €
Employees: 73
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 01/09/1992
Activity: Mfg. of machinery nec.
NACE 2009 CODE: 2829
International Operations: Imports and
Exports
Corporate Structure
President:
Participations: 3
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: 20/12/2010 Re-elections
Latest press article: 15/12/2007 EMPRESA
XXI (GENERAL INFORMATION)
Bank Entities: There are
The date when this report was last updated is 08/02/2011.
The information contained in this report has been investigated and
contrasted on 26/01/2011
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000 €)
Favourable to 326.001,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Very low |
|
Profitability |
Sufficient |
|
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:
1 Company / Companies in Insolvency Proceedings.
BANK AND BUSINESS DEFAULTS
OF PAYMENT - ASNEF INDUSTRIAL
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
21/03/2011 08:03:11
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 |
3.333.090,73 |
22,71 |
3.787.280,49 |
23,47 |
3.457.940,50 |
20,50 |
|
B) CURRENT ASSETS |
11.346.462,34 |
77,29 |
12.351.440,05 |
76,53 |
13.407.322,89 |
79,50 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
10.092.056,89 |
68,75 |
10.086.429,27 |
62,50 |
9.940.066,81 |
58,94 |
|
B) NON CURRENT LIABILITIES |
236.737,79 |
1,61 |
718.461,49 |
4,45 |
551.034,17 |
3,27 |
|
C) CURRENT LIABILITIES |
4.350.758,39 |
29,64 |
5.333.829,78 |
33,05 |
6.374.162,41 |
37,79 |
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 |
10.731.107,51 |
|
15.034.755,57 |
|
14.359.690,31 |
|
|
GROSS MARGIN |
7.138.778,78 |
66,52 |
8.848.500,09 |
58,85 |
7.780.628,51 |
54,18 |
|
EBITDA |
1.840.619,12 |
17,15 |
2.685.206,37 |
17,86 |
2.828.203,52 |
19,70 |
|
EBIT |
1.136.524,99 |
10,59 |
1.195.748,48 |
7,95 |
2.409.476,32 |
16,78 |
|
NET RESULT |
910.976,56 |
8,49 |
1.096.047,66 |
7,29 |
1.986.000,53 |
13,83 |
|
EFFECTIVE TAX RATE (%) |
9,01 |
|
5,30 |
|
16,85 |
|
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|
|
|
|
A) NON CURRENT ASSETS |
22,71 |
28,87 |
-6,17 |
|
A) CURRENT ASSETS |
77,29 |
71,13 |
6,17 |
|
LIABILITIES |
|
|
|
|
A) NET WORTH |
68,75 |
40,03 |
28,72 |
|
B) NON CURRENT LIABILITIES |
1,61 |
11,28 |
-9,67 |
|
C) CURRENT LIABILITIES |
29,64 |
48,69 |
-19,05 |
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
89,89 |
98,08 |
-8,19 |
|
GROSS MARGIN |
59,80 |
41,38 |
18,42 |
|
EBITDA |
15,42 |
10,91 |
4,51 |
|
EBIT |
9,52 |
7,02 |
2,50 |
|
NET RESULT |
7,63 |
4,46 |
3,17 |
Sector Composition
Compared sector (NACE 2009): 2829
Number of companies: 13
Size (Sales Figure): 7,000,000.00 - 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 |
910.976,56 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
404.779,50 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
910.976,56 |
Dividends |
506.197,06 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: ECHANIZ URCELAY JAVIER
Auditing exceptions:
CON SUJECION A LOS PASIVOS, SI LOS HUBIERA, QUE PODRIAN DERIVARSE DEL
HECHO DE QUE LA SOCIEDAD TIENE ABIERTOS A EFECTOS DE INSPECCION POR PARTE DE
LAS AUTORIDADES FISCALES, LOS ULTIMOS 4 EJERCICIOS PARA TODOS LOS IMPUESTOS A
LOS QUE ESTA SUJETA SU ACTIVIDAD.
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 ARITZ BIDEA (APARTADO 17), 65
48100 MUNGIA VIZCAYA
Previous Seat Address:
CARRETERA ATELA 5
48100 MUINGUIA
VIZCAYA
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Main Board
members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
PRAT URREIZTIETA JAVIER |
20/12/2010 |
|
|
VICE-PRESIDENT |
SORDA |
07/08/2003 |
|
|
VICE-PRESIDENT |
SOROA |
20/12/2010 |
|
|
MEMBER OF THE BOARD |
VILALLONGA GAMBOA JAVIER |
20/12/2010 |
|
|
MEMBER OF THE BOARD |
RAMIREZ ESCUDERO PRADO PABLO |
20/12/2010 |
|
|
MEMBER OF THE BOARD |
BERGARECHE GROS FERNANDO |
20/12/2010 |
|
|
MEMBER OF THE BOARD |
|
20/12/2010 |
|
|
MEMBER OF THE BOARD |
ECHEVARRIA SANCHEZ DEL POZO RAFAEL |
20/12/2010 |
|
|
MEMBER OF THE BOARD |
EPALZA SOLANO JUAN MANUEL |
20/12/2010 |
|
|
AUDITOR |
APPOINTMENT DATE |
||
|
ECHANIZ URCELAY JAVIER |
13/12/2010 |
||
There are 13 board members, directors and auditors registered
In case you need more information you can request:Board Members Monitoring
Board members remuneration
Source: Annual financial report 2009
Board members remuneration: 60.800,82 €
Functional
Managers
|
POSITION |
NAME AND SURNAME |
|
General Manager |
PRAT GONZALO |
|
Financial Director |
CARNICERO OLIVAR ANTONIO |
|
Purchases Director |
MADARIAGA AGUIRRE EDURNE |
FINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
ECHEBARRIA URIBE RAFAEL |
|
Indef. |
OWN SOURCES |
02/02/2010 |
|
|
RETOLAZA OLEAGOITIA CIRIACO |
|
Indef. |
OWN SOURCES |
02/02/2010 |
|
|
SOROA |
|
Indef. |
OWN SOURCES |
02/02/2010 |
|
|
GAMBOA ERENO JASONE |
|
Indef. |
OWN SOURCES |
02/02/2010 |
|
|
RAMIREZ ESCUDERO VALDES ADOLFO |
|
Indef. |
OWN SOURCES |
02/02/2010 |
|
|
|
|
Indef. |
OWN SOURCES |
02/02/2010 |
|
|
VILALLONGA DE LA SOTA RAMON |
|
Indef. |
OWN SOURCES |
02/02/2010 |
There are 7 direct financial links through shareholders
registered
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PRAT URREIZTIETA FCO JAVIER |
|
Indef. |
OWN SOURCES |
02/08/1996 |
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PRODUCTOS ASTECA SA |
A20060141 |
100,00 |
OWN SOURCES |
11/05/2010 |
|
|
ELKARGI SGR |
V20066411 |
Indef. |
TRADE REG. |
31/12/2006 |
|
|
CONSORCIO DE EMPRESAS MERCADOS EXTERIORES SL |
B20424800 |
Indef. |
TRADE REG. |
31/12/2006 |
There are 3 direct financial links through participations
registered
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
TECNICAS HIDRAULICAS DE REPARACION NAVAL THEMARCO SOCIEDAD LIMITADA.
(EXTINGUIDA) |
B35321058 |
99,99 |
B.O.R.M.E. |
10/08/1999 |
|
|
CONSULTORIA DE MERCADOS EXTERIORES SOCIEDAD LIMITADA. (EXTINGUIDA) |
B20176301 |
Indef. |
B.O.R.M.E. |
18/11/2003 |
Company with rating inferior to 7
CREDIT INFORMATION
Incorporation date: 01/09/1992
Establishment date: 25/04/1967
Founder’s Name:
Activity: Mfg. of machinery nec.
NACE 2009 CODE: 2829
NACE 2009 Activity: Manufacture of other general-purpose
machinery n.e.c.
Business: FABRICACION, DISTRIBUCION Y VENTA DE MAQUINAS DE
ACCIONAMIENTO HIDRAULICO, NEUMATICO, ELECTRICO O MECANICO, DE MAQUINARIA DE
ARTES GRAFICAS, DE RECIPIENTES A PRESION.
Activity description: Fabricación de maquinaria para sectores
Naval, Medio Ambiente, Molienda y Automoción.
Environmental information: YES (Page 55) Annual
financial report 2009
Latest employees figure: 73 (2011)
% of fixed employees: 84,13%
% of temporary employees: 15,87%
Employees
evolution
|
|
|
|
SALES
Credit collections: 100%
Export Percentage: 70%
Sales breakdown
•
El 0,8 % de su cifra de negocio corresponde a
automoción .
•
El 5,87 % de su cifra de negocio corresponde a
Rover Asteca .
•
El 9,89 % de su cifra de negocio corresponde a marco
Global .
•
El 54,03 % de su cifra de negocio corresponde a
marco TH .
•
El 7,71 % de su cifra de negocio corresponde a
asistencia técnica .
•
El 20,64 % de su cifra de negocio corresponde a
mineral .
•
El 0,4 % de su cifra de negocio corresponde a
molinos .
•
El 0.5 % de su cifra de negocio corresponde a gruas
.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO SANTANDER, S.A. |
5066 |
CL LAUAXETA OLERKARI 8 APDO. 00000 |
MUNGIA |
Vizcaya |
|
BANCO GUIPUZCOANO, S.A. |
0079 |
C/ BUTROI, 14 |
MUNGIA |
Vizcaya |
|
BANCO POPULAR |
1166 |
ITXAROPENA, 3 |
MUNGIA |
Vizcaya |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
1300 |
GRAN VIA, 12 |
|
Vizcaya |
There are 4 bank entities registered
Brand name: TH MINERALS (Valid)
Type: JOINT Scope: NATIONAL Date: 17/12/2009
Brand name: TH TNCNICAS HIDRNULICAS (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 10/06/2009
Brand name: TH (Valid)
Type: JOINT Scope: NATIONAL Date: 05/02/2009
Brand name: TH TECNICAS HIDRAULICAS (Valid)
Type: JOINT Scope: NATIONAL Date: 18/07/2008
Brand name: TH TECNICAS
Type: JOINT Scope: NATIONAL Date: 11/07/2007
There are 37 brands, signs and commercial names
LEGAL
STRUCTURE
Constitution Data
Register Date: 01/09/1992
Register town: Vizcaya
Announcement number: 327266
Legal form: Joint-stock Company
Social Capital: 2.665.416,56 €
Paid-up capital: 2.665.416,56 €
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: 32 (Last: 20/12/2010, first: 27/11/1992)
· Acts on capital: 9 (Last: 14/03/2003, first: 14/12/1993)
· Acts on creation: 1 (Last: 27/11/1992)
· Acts on filed accounts: 18 (Last: 03/08/2010, first: 08/11/1993)
· Acts on identification: 0
· Acts on Information: 2 (Last: 24/07/2006, first: 13/04/1993)
· Acts on proceedings: 1 (Last: 27/11/1992)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Re-elections |
20/12/2010 |
467951 |
Vizcaya |
|
Appointments |
20/12/2010 |
467951 |
Vizcaya |
|
Resignations |
20/12/2010 |
467951 |
Vizcaya |
|
Re-elections |
13/12/2010 |
458005 |
Vizcaya |
|
Appointments |
01/03/2010 |
86800 |
Vizcaya |
|
Appointments |
19/01/2010 |
19169 |
Vizcaya |
|
Re-elections |
25/11/2009 |
493901 |
Vizcaya |
|
Re-elections |
22/06/2009 |
281374 |
Vizcaya |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
03/08/2010 |
275432 |
Vizcaya |
|
Annual Filed Accounts (2008) |
03/08/2010 |
274000 |
Vizcaya |
|
Annual Filed Accounts (2007) |
29/07/2008 |
222904 |
Vizcaya |
There are 63 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 1 (Last: 15/12/2007)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 7 (Last: 01/01/2003, first:
14/06/1995)
Latest press
article published
15/12/2007 EMPRESA XXI - GENERAL INFORMATION
TECNICAS HIDRAULICAS Y TEKNI ALDE 2002 ACOMETERAN LA PUESTA EN MARCHA DE
UN CENTRO INTEGRAL DEL AUTOMOVIL (CIA) EN AGUIMES (GRAN CANARIA). EL CENTRO,
CUYA PUESTA EN MARCHA ESTA PREVISTA PARA FINALES DE ENERO DE 2008, ESTARA
FORMADO POR UN CONJUNTO DE TALLERES DE SERVICIOS DEL AUTOMOVIL. LA NOVEDAD DEL
NUEVO CIA RESIDE EN QUE SUS CONSUMOS ENERGETICOS Y DE AGUA CALIENTE ESTARAN
ALIMENTADOS POR PANELES FOTOVOLTAICOS Y TERMICOS INSTALADOS EN LOS TEJADOS DE
LAS INSTALACIONES.
01/01/2003 ESTRATEGIA EMPRESARIAL - GENERAL
INFORMATION
TECNICAS HIDRAULICAS, EMPRESA DEDICADA A LA PRODUCCION DE EQUIPOS DE
PESCA
01/10/2002 EL CORREO ESPAÑOL EL
LA JUNTA GRAL. DE ESTA SDAD. CELEBRADA EL 27/06/02 ACORDO AMPLIAR EL
CAPITAL SOCIAL EN 266.541,656 EUROS, MEDIANTE REDUCCION
01/06/2002 EMPRESA XXI - PRODUCTS AND ACTIVITIES
LA CIA. VIZCAINA TECNICAS HIDRAULICAS HA MECANIZADO LA ULTIMA GRAN
MANIOBRA DE PESCA AL CERCO DE LOS ATUNEROS CONGELADORES.
01/05/2002 ESTRATEGIA EMPRESARIAL - GENERAL
INFORMATION
ESTA SDAD. ENTREGARA A LO LARGO
There are 8 press articles registered for this company
Complementary Information
Clients and/or suppliers
El 54% de sus ingresos provienen de la empresa Marco T.H.
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 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 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 |
3.333.090,73 |
22,71 |
3.787.280,49 |
23,47 |
3.457.940,50 |
20,50 |
|
I. Intangible assets |
33.864,13 |
0,23 |
39.574,31 |
0,25 |
28.106,78 |
0,17 |
|
3. Patents, licences , trademarks and similars |
14.325,00 |
0,10 |
17.700,00 |
0,11 |
|
|
|
5. Software |
19.539,13 |
0,13 |
21.874,31 |
0,14 |
|
|
|
II. Tangible fixed assets |
792.544,78 |
5,40 |
841.872,36 |
5,22 |
923.151,90 |
5,47 |
|
1. Property, plant and equipment |
595.003,20 |
4,05 |
659.412,51 |
4,09 |
|
|
|
2. Technical fittings and other tangible assets |
197.541,58 |
1,35 |
182.459,85 |
1,13 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
2.505.600,00 |
17,07 |
2.505.600,00 |
15,53 |
2.506.681,82 |
14,86 |
|
1. Net worth instruments |
2.505.600,00 |
17,07 |
2.505.600,00 |
15,53 |
2.506.681,82 |
14,86 |
|
V. Long Term Financial Investments |
1.081,82 |
0,01 |
400.233,82 |
2,48 |
|
|
|
1. Net worth instruments |
1.081,82 |
0,01 |
1.081,82 |
0,01 |
|
|
|
5. Other financial assets |
|
|
399.152,00 |
2,47 |
|
|
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
11.346.462,34 |
77,29 |
12.351.440,05 |
76,53 |
13.407.322,89 |
79,50 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
4.557.438,35 |
31,05 |
4.775.810,99 |
29,59 |
4.523.287,99 |
26,82 |
|
2. Raw material inventory |
860.472,70 |
5,86 |
903.099,00 |
5,60 |
|
|
|
3. Work in Progress |
961.974,50 |
6,55 |
1.105.048,00 |
6,85 |
|
|
|
b) Short production cycle |
961.974,50 |
6,55 |
1.105.048,00 |
6,85 |
|
|
|
4. Finished goods |
2.432.189,54 |
16,57 |
2.696.144,00 |
16,71 |
|
|
|
b) Short production cycle |
2.432.189,54 |
16,57 |
2.696.144,00 |
16,71 |
|
|
|
5. Sub products and recycled materials |
302.801,61 |
2,06 |
|
|
|
|
|
6. Pre-payments to suppliers |
|
|
71.519,99 |
0,44 |
|
|
|
III. Trade Debtors and other receivable accounts |
4.006.711,84 |
27,29 |
5.562.889,71 |
34,47 |
6.107.100,94 |
36,21 |
|
1. Clients |
3.788.597,53 |
25,81 |
5.536.406,09 |
34,31 |
5.710.273,98 |
33,86 |
|
b) Clients for sales and short term services
rendering |
3.788.597,53 |
25,81 |
5.536.406,09 |
34,31 |
|
|
|
3. Other debts |
218.114,31 |
1,49 |
26.483,62 |
0,16 |
|
|
|
6. Other credits with the Public Administrations |
|
|
|
|
396.826,96 |
2,35 |
|
IV. Short term investments in associated and affiliated companies |
|
|
|
|
|
|
|
V. Short term financial investments |
112.017,97 |
0,76 |
111.190,08 |
0,69 |
1.672.627,28 |
9,92 |
|
2. Credits to companies |
|
|
|
|
1.672.627,28 |
9,92 |
|
5. Other financial assets |
112.017,97 |
0,76 |
111.190,08 |
0,69 |
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
2.670.294,18 |
18,19 |
1.901.549,27 |
11,78 |
1.104.306,68 |
6,55 |
|
1. Treasury |
2.670.294,18 |
18,19 |
1.901.549,27 |
11,78 |
1.104.306,68 |
6,55 |
|
TOTAL ASSETS (A + B) |
14.679.553,07 |
100,00 |
16.138.720,54 |
100,00 |
16.865.263,39 |
100,00 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to
financial instruments has changed substantially and, for this reason the conversion
of financial statements from PGC90 to PGC2007 could include notable inaccuracy.
In the conversion process there has
been estimated that the total item 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 €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
10.092.056,89 |
68,75 |
10.086.429,27 |
62,50 |
9.940.066,81 |
58,94 |
|
A-1) Equity |
10.092.056,89 |
68,75 |
10.086.429,27 |
62,50 |
9.940.066,81 |
58,94 |
|
I. Capital |
2.665.416,56 |
18,16 |
2.665.416,56 |
16,52 |
2.665.416,56 |
15,80 |
|
1. Authorized capital |
2.665.416,56 |
18,16 |
2.665.416,56 |
16,52 |
2.665.416,56 |
15,80 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
6.977.524,83 |
47,53 |
6.387.674,25 |
39,58 |
5.288.649,72 |
31,36 |
|
1. Legal and statutory |
533.083,31 |
3,63 |
533.083,31 |
3,30 |
533.083,31 |
3,16 |
|
2. Other funds |
6.444.441,52 |
43,90 |
5.854.590,94 |
36,28 |
4.755.566,41 |
28,20 |
|
IV. (Net worth own shares and participations) |
-399.152,00 |
-2,72 |
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
910.976,56 |
6,21 |
1.096.047,66 |
6,79 |
1.986.000,53 |
11,78 |
|
VIII. (Interim dividend) |
-62.709,06 |
-0,43 |
-62.709,20 |
-0,39 |
|
|
|
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 |
236.737,79 |
1,61 |
718.461,49 |
4,45 |
551.034,17 |
3,27 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
236.737,79 |
1,61 |
718.461,49 |
4,45 |
551.034,17 |
3,27 |
|
2. Debts with bank entities |
100.996,67 |
0,69 |
449.670,37 |
2,79 |
551.034,17 |
3,27 |
|
5. Other financial liabilities |
135.741,12 |
0,92 |
268.791,12 |
1,67 |
|
|
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
|
|
|
|
|
|
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
4.350.758,39 |
29,64 |
5.333.829,78 |
33,05 |
6.374.162,41 |
37,79 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
684.966,17 |
4,67 |
1.402.358,96 |
8,69 |
1.381.870,58 |
8,19 |
|
2. Debts with bank entities |
551.917,22 |
3,76 |
487.673,38 |
3,02 |
1.381.870,58 |
8,19 |
|
5. Other financial liabilities |
133.048,95 |
0,91 |
914.685,58 |
5,67 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
3.665.792,22 |
24,97 |
3.625.930,82 |
22,47 |
4.736.360,62 |
28,08 |
|
1. Suppliers |
2.329.024,52 |
15,87 |
2.769.076,57 |
17,16 |
3.769.155,32 |
22,35 |
|
b) Short term suppliers |
2.329.024,52 |
15,87 |
2.769.076,57 |
17,16 |
|
|
|
3. Different creditors |
1.336.767,70 |
9,11 |
366.039,92 |
2,27 |
|
|
|
4. Staff (pending remunerations) |
|
|
120.312,64 |
0,75 |
127.695,95 |
0,76 |
|
5. Liabilities by current taxes |
|
|
370.501,69 |
2,30 |
|
|
|
6. Other debts with Public Administrations |
|
|
|
|
599.383,10 |
3,55 |
|
7. Clients pre-payments |
|
|
|
|
240.126,25 |
1,42 |
|
VI. Short term periodifications |
|
|
305.540,00 |
1,89 |
255.931,21 |
1,52 |
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
14.679.553,07 |
100,00 |
16.138.720,54 |
100,00 |
16.865.263,39 |
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 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 |
10.731.107,51 |
89,89 |
15.034.755,57 |
93,54 |
14.359.690,31 |
95,19 |
|
A) Sales |
10.728.833,03 |
89,88 |
15.034.755,57 |
93,54 |
14.359.690,31 |
95,19 |
|
b) Services provided |
2.274,48 |
0,02 |
|
|
|
|
|
2. Variation in stocks of finished goods and work in progress |
-104.226,35 |
-0,87 |
188.374,00 |
1,17 |
-351.889,00 |
-2,33 |
|
3. Works for its own assets |
587.262,68 |
4,92 |
473.530,00 |
2,95 |
|
|
|
4. Supplies |
-4.694.417,17 |
-39,33 |
-7.413.517,69 |
-46,12 |
-6.952.137,68 |
-46,09 |
|
a) Material consumed |
|
|
-5.544.138,18 |
-34,49 |
|
|
|
b) Raw materials consumed |
-4.694.417,17 |
-39,33 |
|
|
-5.208.581,43 |
-34,53 |
|
c) Works carried out for other companies |
|
|
-1.869.379,51 |
-11,63 |
-1.743.556,25 |
-11,56 |
|
5. Other operating income |
619.052,11 |
5,19 |
565.358,21 |
3,52 |
724.964,88 |
4,81 |
|
a) Other incomes |
342.342,69 |
2,87 |
429.060,03 |
2,67 |
653.790,70 |
4,33 |
|
b) Operating grants included in the exercise result |
276.709,42 |
2,32 |
136.298,18 |
0,85 |
71.174,18 |
0,47 |
|
6. Labour cost |
-3.618.926,57 |
-30,32 |
-3.888.869,57 |
-24,19 |
-3.748.184,56 |
-24,85 |
|
a) Wages and similar expenses |
-2.198.800,80 |
-18,42 |
-2.431.068,50 |
-15,12 |
|
|
|
b) Social costs |
-1.420.125,77 |
-11,90 |
-1.457.801,07 |
-9,07 |
|
|
|
7. Other operating costs |
-1.679.233,09 |
-14,07 |
-3.165.768,28 |
-19,70 |
-1.787.374,20 |
-11,85 |
|
a) External services |
-1.669.418,67 |
-13,98 |
-2.263.303,43 |
-14,08 |
-1.703.573,78 |
-11,29 |
|
b) Taxes |
-9.814,42 |
-0,08 |
-11.120,72 |
-0,07 |
-10.718,46 |
-0,07 |
|
c) Losses, deterioration and variation on business operations
provisions |
|
|
-891.344,13 |
-5,55 |
-14.873,17 |
-0,10 |
|
d) Other day to day expenses |
|
|
|
|
-58.208,79 |
-0,39 |
|
8. Amortization of fixed assets |
-704.094,13 |
-5,90 |
-598.113,76 |
-3,72 |
-403.854,03 |
-2,68 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
|
|
568.260,60 |
3,77 |
|
b) Results for disposals and others |
|
|
|
|
568.260,60 |
3,77 |
|
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) |
1.136.524,99 |
9,52 |
1.195.748,48 |
7,44 |
2.409.476,32 |
15,97 |
|
14. Financial income |
65.928,76 |
0,55 |
491.695,19 |
3,06 |
148.585,20 |
0,99 |
|
a) From net worth instruments participations |
65.928,76 |
0,55 |
491.695,19 |
3,06 |
|
|
|
a 1) On group and associated companies |
|
|
400.000,00 |
2,49 |
|
|
|
a 2) On third parties |
65.928,76 |
0,55 |
91.695,19 |
0,57 |
|
|
|
b) From negotiable values and other financial instruments |
|
|
|
|
148.585,20 |
0,99 |
|
b 2) From third parties |
|
|
|
|
148.585,20 |
0,99 |
|
15. Financial expenses |
-72.198,00 |
-0,60 |
-157.560,72 |
-0,98 |
-179.474,21 |
-1,19 |
|
b) For debts with third parties |
|
|
|
|
-179.474,21 |
-1,19 |
|
c) For provisions update |
-72.198,00 |
-0,60 |
-157.560,72 |
-0,98 |
|
|
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
-129.091,85 |
-1,08 |
-372.538,53 |
-2,32 |
9.867,17 |
0,07 |
|
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) |
-135.361,09 |
-1,13 |
-38.404,06 |
-0,24 |
-21.021,84 |
-0,14 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
1.001.163,90 |
8,39 |
1.157.344,42 |
7,20 |
2.388.454,48 |
15,83 |
|
20. Taxes on profits |
-90.187,34 |
-0,76 |
-61.296,76 |
-0,38 |
-402.453,95 |
-2,67 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
910.976,56 |
7,63 |
1.096.047,66 |
6,82 |
1.986.000,53 |
13,17 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
910.976,56 |
7,63 |
1.096.047,66 |
6,82 |
1.986.000,53 |
13,17 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to
extraordinary results and other exercises ones have changed substantially and, for
this reason the conversion of financial statements of the formulation exercise
of the accounts to PGC2007 could include notable inaccuracies.
The valuation norms applicable to
deteriorations and results for assets disposal have changed substantially and,
for this reason, the conversion of financial statements of the formulation
exercise of the accounts to PGC2007 could include notable inaccuracies. In the
conversion process there have been made the following assumptions: 1) the total
“gains from disposal of fixed assets” corresponds with results for disposal of
fixed assets and not of financial instruments. 2) no sale of non functional
assets derived from discontinued operations has taken place.
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.
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 |
910.976,56 |
1.096.047,66 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
|
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
|
|
|
IV. For actuarial profits and losses and other adjustments |
|
|
|
V. Non-current assets and related liabilities, maintained for sale |
|
|
|
VI. Conversion differences |
|
|
|
VII. Tax effect |
|
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
|
|
|
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) |
910.976,56 |
1.096.047,66 |
Total net worth
changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
(NET WORTH OWN SHARES AND PARTICIPATIONS) |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
2.665.416,56 |
5.288.649,72 |
|
1.986.000,53 |
|
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) |
2.665.416,56 |
5.288.649,72 |
|
1.986.000,53 |
|
I. Total recognized income and expenses |
|
|
|
1.096.047,66 |
|
II. Operations with partners or owners |
|
|
-399.152,00 |
|
|
5. Operations with own participations or shares (net) |
|
|
-399.152,00 |
|
|
III. Other net worth variations |
|
1.099.024,53 |
|
-1.986.000,53 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
2.665.416,56 |
6.387.674,25 |
-399.152,00 |
1.096.047,66 |
|
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) |
2.665.416,56 |
6.387.674,25 |
-399.152,00 |
1.096.047,66 |
|
I. Total recognized income and expenses |
|
|
|
910.976,56 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
589.850,58 |
|
-1.096.047,66 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
2.665.416,56 |
6.977.524,83 |
-399.152,00 |
910.976,56 |
|
NET WORTH CHANGES ( 3 /3) |
(INTERIM DIVIDEND) |
TOTAL |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
9.940.066,81 |
|
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) |
|
9.940.066,81 |
|
I. Total recognized income and expenses |
|
1.096.047,66 |
|
II. Operations with partners or owners |
|
-399.152,00 |
|
5. Operations with own participations or shares (net) |
|
-399.152,00 |
|
III. Other net worth variations |
-62.709,20 |
-949.685,20 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-62.709,20 |
9.687.277,27 |
|
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) |
-62.709,20 |
9.687.277,27 |
|
I. Total recognized income and expenses |
|
910.976,56 |
|
II. Operations with partners or owners |
|
|
|
III. Other net worth variations |
0,14 |
-506.196,94 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-62.709,06 |
10.092.056,89 |
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 |
-1.001.163,90 |
-1.157.344,42 |
|
2. Results adjustments |
-9.920,94 |
-123.758,96 |
|
b) Value correction for deterioration (+/-) |
131.427,39 |
-25.864,84 |
|
d) Grants allocation (-) |
-276.709,42 |
-136.298,18 |
|
g) Financial income (-) |
-65.928,76 |
-491.695,19 |
|
f) Financial expenses (+) |
72.198,00 |
157.560,72 |
|
i) Change difference (+/-) |
129.091,85 |
372.538,53 |
|
3. Changes in current capital |
2.742.205,89 |
1.155.244,76 |
|
a) Stocks (+/-) |
218.372,64 |
-252.523,00 |
|
b) Debtors and other receivable accounts (+/-) |
1.434.942,26 |
268.619,88 |
|
d) Creditors and other payable accounts (+/-) |
783.350,99 |
1.188.756,67 |
|
e) Other current liabilities (+/-) |
305.540,00 |
-49.608,79 |
|
4. Other cash flow coming from operating activities |
-6.269,24 |
334.134,47 |
|
a) Interests payments (-) |
-72.198,00 |
-157.560,72 |
|
c) Interests collections (+) |
65.928,76 |
491.695,19 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
1.724.851,81 |
208.275,85 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-642.760,90 |
-529.665,86 |
|
b) Intangible assets |
-574.807,11 |
-495.084,30 |
|
c) Tangible assets |
-67.953,79 |
-34.581,56 |
|
7. Disinvestment collections (+) |
|
|
|
8. Cash Flow in investment activities (6 + 7) |
-642.760,90 |
-529.665,86 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
|
|
|
10. Financial liabilities instruments collections and payments |
100.996,67 |
449.670,37 |
|
a) Issue |
100.996,67 |
449.670,37 |
|
2. Debts with bank entities (+) |
100.996,67 |
449.670,37 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
-506.197,06 |
-506.197,08 |
|
a) Dividends (-) |
-506.197,06 |
-506.197,08 |
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-405.200,39 |
-56.526,71 |
|
D) Exchange rate variations effect |
129.091,85 |
372.538,53 |
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
805.982,37 |
-5.378,19 |
|
Cash or equivalents at the beginning of the exercise |
1.901.549,27 |
2.776.933,96 |
|
Cash or equivalents at the end of the exercise |
2.670.294,18 |
1.901.549,27 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
6.995.703,95 |
-0,31 |
7.017.610,27 |
-0,22 |
7.033.160,48 |
|
Working capital ratio |
0,48 |
9,09 |
0,44 |
4,76 |
0,42 |
|
Soundness Ratio |
3,03 |
13,91 |
2,66 |
-7,64 |
2,88 |
|
Average Collection Period (days) |
134 |
0,81 |
133 |
-12,94 |
153 |
|
Average Payment Period (days) |
207 |
67,64 |
123 |
-36,72 |
195 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
260,79 |
12,62 |
231,57 |
10,09 |
210,34 |
|
Quick Ratio (%) |
63,95 |
69,45 |
37,74 |
-13,38 |
43,56 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
6,28 |
-52,21 |
13,14 |
14,66 |
11,46 |
|
External Financing Average Cost |
0,08 |
14,29 |
0,07 |
-22,22 |
0,09 |
|
Debt Service Coverage |
0,53 |
-94,79 |
10,18 |
1.156,79 |
0,81 |
|
Interest Coverage |
15,74 |
107,38 |
7,59 |
-43,48 |
13,42 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
16,07 |
1.056,12 |
1,38 |
-91,65 |
16,64 |
|
Auto financing generated by Assets (%) |
11,75 |
810,85 |
1,29 |
-90,90 |
14,17 |
|
Breakdown Point |
1,12 |
2,75 |
1,09 |
-9,17 |
1,20 |
|
Average Sales Volume per Employee |
170.335,04 |
-20,69 |
214.782,22 |
9,19 |
196.708,09 |
|
Average Cost per Employee |
57.443,28 |
3,40 |
55.555,28 |
8,20 |
51.344,99 |
|
Assets Turnover |
0,73 |
-21,51 |
0,93 |
9,41 |
0,85 |
|
Inventory Turnover (days) |
350 |
50,78 |
232 |
-1,08 |
234 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
7,74 |
4,45 |
7,41 |
-48,15 |
14,29 |
|
Operating Profitability (%) |
12,54 |
12,77 |
11,12 |
-44,54 |
20,05 |
|
Return on Equity (ROE) (%) |
9,92 |
-13,51 |
11,47 |
-52,27 |
24,03 |
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 |
22,71 |
28,87 |
-6,17 |
|
A) CURRENT ASSETS |
77,29 |
71,13 |
6,17 |
|
LIABILITIES |
|||
|
A) NET WORTH |
68,75 |
40,03 |
28,72 |
|
B) NON CURRENT LIABILITIES |
1,61 |
11,28 |
-9,67 |
|
C) CURRENT LIABILITIES |
29,64 |
48,69 |
-19,05 |
Analytical
Account of Results
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
89,89 |
98,08 |
-8,19 |
|
Other operating income |
10,11 |
1,92 |
8,19 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-39,33 |
-59,34 |
20,01 |
|
Variation in stocks of finished goods and work in progress |
-0,87 |
0,73 |
-1,60 |
|
GROSS MARGIN |
59,80 |
41,38 |
18,42 |
|
Other operating costs |
-14,07 |
-15,00 |
0,92 |
|
Labour cost |
-30,32 |
-16,77 |
-13,55 |
|
GROSS OPERATING RESULT |
15,42 |
9,62 |
5,80 |
|
Amortization of fixed assets |
-5,90 |
-2,63 |
-3,27 |
|
Deterioration and result for fixed assets disposal |
|
0,03 |
|
|
NET OPERATING RESULT |
9,52 |
7,02 |
2,50 |
|
Financial result |
-1,13 |
-0,96 |
-0,17 |
|
RESULT BEFORE TAX |
8,39 |
6,05 |
2,34 |
|
Taxes on profits |
-0,76 |
-1,59 |
0,83 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
7,63 |
|
|
|
NET RESULT |
7,63 |
4,46 |
3,16 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
6.995.703,95 |
1.189.798,21 |
2.343.531,96 |
4.407.664,57 |
|
Working capital ratio |
0,48 |
0,12 |
0,34 |
0,43 |
|
Soundness Ratio |
3,03 |
1,32 |
2,03 |
4,74 |
|
Average Collection Period (days) |
134 |
78 |
92 |
104 |
|
Average Payment Period (days) |
207 |
54 |
115 |
131 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
260,79 |
1,18 |
1,74 |
1,90 |
|
Quick Ratio (%) |
63,95 |
0,06 |
0,16 |
0,42 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
6,28 |
0,00 |
7,37 |
17,60 |
|
External Financing Average Cost |
0,08 |
0,05 |
0,06 |
0,08 |
|
Debt Service Coverage |
0,53 |
0,00 |
0,56 |
3,82 |
|
Interest Coverage |
15,74 |
2,26 |
11,09 |
41,49 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
16,07 |
3,82 |
6,20 |
10,85 |
|
Auto financing generated by Assets (%) |
11,75 |
5,80 |
7,20 |
10,27 |
|
Breakdown Point |
1,12 |
1,04 |
1,05 |
1,11 |
|
Average Sales Volume per Employee |
170.335,04 |
160.152,68 |
219.718,17 |
256.239,47 |
|
Average Cost per Employee |
57.443,28 |
30.225,44 |
34.985,83 |
36.194,35 |
|
Assets Turnover |
0,73 |
0,80 |
1,18 |
1,49 |
|
Inventory Turnover (days) |
350 |
84 |
110 |
182 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
7,74 |
4,89 |
6,88 |
10,74 |
|
Operating Profitability (%) |
12,54 |
7,96 |
11,25 |
16,01 |
|
Return on Equity (ROE) (%) |
9,92 |
9,67 |
16,10 |
26,25 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.77 |
|
|
1 |
Rs.72.66 |
|
Euro |
1 |
Rs.63.06 |
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.