MIRA INFORM REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
ESMALTES SA |
|
|
|
|
Registered Office : |
Carretera Castellon-Teruel, Km 22,5, 12110 Alcora Castellón |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
07.08.1952 |
|
` |
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of glass & glass products |
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 : |
271.870,00 € |
|
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
ESMALTES SA
TAX NUMBER: A12004164
Company situation: Active
EXECUTIVE
SUMMARY
Identification
Current Business Name: ESMALTES SA
Other names: YES
Current Address: CARRETERA CASTELLON-TERUEL, KM
22,5
Telephone number: 964360325 Fax: 964361787
URL: www.esmaltes.com
Corporate e-mail: info@esmaltes.com
Trade Risk
Credit Appraisal: 271.870,00 €
Incidents: NO
R.A.I.: NO
Bank and business defaults of payment - ASNEF EMPRESAS: NO
Financial Information
Latest sales known (2011): 19.580.000,00
€ (Forecast)
Balance sheet latest sales (2009): 15.914.823,00 € (Trade Register)
Result: -1.433.296 €
Total Assets: 22.378.171 €
Social Capital: 570.950,00 €
Employees: 75
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 07/08/1952
Activity: Mfg. of glass & glass products
NACE 2009 CODE: 2349
International Operations: Exports
Corporate Structure
President:
Parent Company:
PARTICIPACION
E IMPULSO SOCIEDAD LIMITADA.
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: 28/03/2011 Meeting notification
Latest press article: No press articles registered for this
company
Bank Entities: There are
The date when this report was last updated is 19/05/2011.
The information contained in this report has been investigated and
contrasted on 19/05/2011
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000 €)
Favourable to 271.870,00 €
Financial Situation
Exercise:2009
|
Treasury |
Average |
|
Indebtedness |
Average |
|
Profitability |
Negative |
|
Balance |
Average |
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Excellent |
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
16/05/2011 09:05:22
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 |
10.257.018,00 |
45,83 |
10.052.666,16 |
32,93 |
9.499.076,42 |
30,23 |
|
B) CURRENT ASSETS |
12.121.153,00 |
54,17 |
20.477.622,15 |
67,07 |
21.919.019,75 |
69,77 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
8.206.889,00 |
36,67 |
9.615.799,37 |
31,50 |
7.606.320,29 |
24,21 |
|
B) NON CURRENT LIABILITIES |
2.770.517,00 |
12,38 |
3.939.520,43 |
12,90 |
1.567.303,18 |
4,99 |
|
C) CURRENT LIABILITIES |
11.400.765,00 |
50,95 |
16.974.968,51 |
55,60 |
22.244.472,70 |
70,80 |
Profit and Loss
Account Analysis
Figures given in €
|
|
2011 FORECAST |
2010 ESTIMATED |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
19.580.000,00 |
17.800.000,00 |
15.914.823,00 |
|
27.376.213,33 |
|
|
GROSS MARGIN |
|
|
5.865.333,00 |
36,85 |
13.330.876,91 |
48,70 |
|
EBITDA |
|
|
-521.334,00 |
-3,28 |
1.620.091,14 |
5,92 |
|
EBIT |
|
|
-1.260.109,00 |
-7,92 |
-252.861,43 |
-0,92 |
|
NET RESULT |
|
|
-1.433.296,00 |
-9,01 |
-1.007.286,59 |
-3,68 |
|
EFFECTIVE TAX RATE (%) |
|
|
-30,94 |
|
-33,83 |
|
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
45,83 |
51,82 |
-5,99 |
|
|
|
|
|
A) CURRENT ASSETS |
54,17 |
48,18 |
5,99 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
||
|
A) NET WORTH |
36,67 |
58,94 |
-22,27 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
12,38 |
12,24 |
0,14 |
|
|
|
|
|
C) CURRENT LIABILITIES |
50,95 |
28,82 |
22,13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
|
SALES |
96,70 |
99,20 |
-2,50 |
|
|
|
|
|
GROSS MARGIN |
35,64 |
55,01 |
-19,37 |
|
|
|
|
|
EBITDA |
-3,17 |
15,84 |
-19,00 |
|
|
|
|
|
EBIT |
-7,66 |
8,65 |
-16,30 |
|
|
|
|
|
NET RESULT |
-8,71 |
6,76 |
-15,46 |
|
|
|
|
Sector Composition
Compared sector (NACE 2009): 2349
Number of companies: 14
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 |
-1.433.296,00 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
-1.433.296,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
-1.433.296,00 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: EURO ACCOUNTINGS S.L.
Auditing fees: 9.000,00 €
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:
CARRETERA CASTELLON-TERUEL, KM 22,5
12110 ALCORA
CASTELLÓN
Characteristics of
the current address
Type of establishment: factory
Local Situation: secondary
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Governing body : 6 members (latest change:
12/08/2009) Other Positions : 2 (latest change: 18/01/2010) Auditor : 1 (latest change: 26/11/2009) Operative Board Members : 4 (latest change: 07/04/2011) Non-current positions : 27 (latest change: 26/11/2009) |
|
|
Main Board
members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
NOMDEDEU ALBERO, FERNANDO |
12/08/2009 |
|
MEMBER OF THE BOARD |
FABRA FLORIT, FERNANDO |
12/08/2009 |
|
MEMBER OF THE BOARD |
HERNANDEZ SANCHIS, LUIS |
12/08/2009 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
EURO ACCOUNTINGS SLP |
26/11/2009 |
There are 9 board members, directors and auditors registered
Board members remuneration
Source: Annual financial report 2009
Board members remuneration: 0,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
FABRA FLORIT, FERNANDO |
|
Financial Manager |
FERRET, ISABEL |
|
Human Resources Director |
BELTRAN JOSE, VICENTE |
|
Exports Director |
LA TORRE, ARTURO |
fINANCIAL LINKS
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PARTICIPACION E IMPULSO SOCIEDAD LIMITADA. |
B12438651 |
55,66 |
OWN SOURCES |
07/04/2011 |
|
|
NOMDEDEU CALVO AGUSTIN |
|
18,75 |
OWN SOURCES |
07/04/2011 |
There are 2 direct financial links through shareholders
registered
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
ENERGIA CERAMICA S.L. |
B12702437 |
1,00 |
TRADE REG. |
31/12/2006 |
There are 1 direct financial links through participations
registered
|
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
AZULEJOS LA ESTRELLA SL |
B12008132 |
46,50 |
TRADE REG. |
31/12/1997 |
|
|
GENERAL AZULEJERA SL (EXTINGUIDA) |
B12008264 |
46,50 |
TRADE REG. |
10/06/1994 |
Company
with rating inferior to 7
POTENTIAL LINKS
Search for Link by
Administrator
Search Criterion: ”FERNANDO NOMDEDEU ALBERO”
|
COMPANY |
POSITION |
PROVINCE |
|
NOALGI GESTIONES INMOBILIARIAS S.L. |
Administrador Único |
CASTELLON |
|
NOALVA INVERSIONES SICAV SA |
Consejero |
MADRID |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”ESMALTES SA”
URL: www.esmaltes.com
ESMALTES S.A.: FRITAS, ESMALTES CERAMICOS, COLORES, PELLETS ... Esmaltes
S.A. es una empresa de referencia mundial en la fabricación de fritas y
esmaltes cerámicos. Fue fundada el 22 de Agosto de 1952, en pleno corazón ...
URL: www.info-empresas.net
ESMALTES, S.A. Fabricacion, venta y transporte de esmaltes,
arcillas, venta de inmuebles y construccion de edificios (100%)
BUSINESS INFORMATION
Incorporation date: 07/08/1952
Establishment date: 07/08/1952
Founder’s Name: Esmaltes, S.L. pasando a S.A. en el 87
Activity: Mfg. of glass & glass products
NACE 2009 CODE: 2349
NACE 2009 Activity: Manufacture of other ceramic products
Business: FABRICACION Y TRANSPORTE POR CARRETERA DE ESMALTES
Y COLORANTES CERAMICOS. DISENO Y CONSTRUCCION DE HORNOS MAQUINARIA Y UTILLAJE
PARA LA INDUSTRIA CERAMICA. COMPRA, VENTA Y ARRIENDO DE BIENES INMUEBLES.
CONSTRUCCION DE E
Activity description: Fabricación y distribución de fritas y
esmaltes cerámicos.
Environmental information: YES (Page 66 -
69) Annual financial report 2009
Latest employees figure: 75 (2011)
% of fixed employees: 94,81%
% of temporary employees: 5,19%
% of men: 84,42%
% of women: 15,58%
Employees
evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Senior management |
1 |
1 |
|
|
Other managers |
3 |
2 |
1 |
|
Support intellectuals and scientists, technicians and professionals |
11 |
8 |
3 |
|
Administrative employees |
4 |
1 |
3 |
|
Sales representatives and similar |
8 |
8 |
|
|
Other qualified employees |
19 |
14 |
5 |
|
Non qualified employees |
31 |
31 |
|
COMMERCIAL OPERATIONS
SALES
Export Percentage: 67%
Exports to: UNIÓN EUROPEA, RUSIA, TURQUIA, CHINA,
INDONESIA,INDIA, EGIPTO, ARGELIA, TUNEZ
National Distribution: 33%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
GRESPANIA, S.A |
NO |
There are 1 Suppliers
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
GRESPANIA, S.A |
NO |
There are 1 Clients
•
El 100% de su cifra de negocios corresponde a la
actividad principal.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CAJA AH. VALENCIA, CASTELLON Y ALICANTE, BANCAJA |
|
|
ALCORA |
|
|
BANCO POPULAR ESPAŃOL, S.A. |
|
|
CASTELLON |
|
|
BANCO ESPAŃOL DE CREDITO, S.A. |
|
|
ALCORA |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
ALCORA |
|
|
BANCO DE SABADELL, S.A. |
|
|
ALCORA |
|
There are 8 bank entities registered
Discount facilities: 0
Credit policy: 0
Mortgage loan: 1
Loans with no real security: 0
|
|
|
|
Debt type:Mortgage loan Guarantee in a mortgage: terrenos
y las naves de Esmaltes, S.A. Además, hay que destacar que el préstamo está
concedido por cuatro entidades financieras. |
Granted amount:3.450.000,00 € Source: Filed
Accounts (2009) |
|
|
|
There are 1 bank operations registered
Grants
|
|
|
|
Body-entity: AGENCIA VALENCIANA DE LA ENERGÍA Grant type: Projects
development or business enlargement or improvement |
Nominal amount: 54.176,00 € Source: Filed
Accounts (2009) |
|
Operation description: Proyecto “Transformación de 3 hornos de
frita aire-gas, en 3 hornos de oxicombustión” dentro del Programa “Ahorro y
eficiencia energética en la Industria”. |
|
|
|
|
There are 1 grants registered
FORMER NAMES:
•
ESMALTES SL
Brand name: ESMALTES (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 13/05/2009
Brand name: BACCERLLUM (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 23/05/2001
Brand name: ESMALTES,SA (Valid)
Type: JOINT Scope: NATIONAL Date: 14/11/2000
Brand name: ESMALTES, SA (Valid)
Type: JOINT Scope: NATIONAL Date: 15/01/1999
Brand name: ESMALTES, S.A (Valid)
Type: JOINT Scope: NATIONAL Date: 17/04/1997
There are 18 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 07/08/1952
Legal form: Joint-stock Company
Social Capital: 570.950,00 €
Paid-up capital: 570.950,00 €
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: 01/04/1993)
Acts on administrators: 47 (Last: 18/01/2010, first:
01/04/1993)
Acts on capital: 3 (Last: 24/12/2008, first:
28/01/1994)
Acts on creation: 0
Acts on filed accounts: 20 (Last: 02/08/2010, first:
04/09/1990)
Acts on identification: 0
Acts on Information: 10 (Last: 28/03/2011, first:
01/04/1993)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Meeting notification |
28/03/2011 |
7363 |
|
|
Modification of the Articles of Association |
15/10/2010 |
382813 |
Castellón |
|
Appointments |
18/01/2010 |
15868 |
Castellón |
|
Appointments |
26/11/2009 |
494916 |
Castellón |
|
Officially cancelling of an appointment |
26/11/2009 |
494916 |
Castellón |
|
Appointments |
12/08/2009 |
354371 |
Castellón |
|
Resignations |
12/08/2009 |
354371 |
Castellón |
|
Resignations |
12/08/2009 |
354370 |
Castellón |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
02/08/2010 |
267743 |
Castellón |
|
Annual Filed Accounts (2008) |
10/11/2009 |
822521 |
Castellón |
|
Annual Filed Accounts (2007) |
13/01/2009 |
13711 |
Castellón |
There are 81 acts registered
Press articles
No press articles registered for this company
Complementary Information
Financial Information
El balance cerrado a 31/12/2008 (Deposito 2008) 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 03/08/2010.
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 |
10.257.018,00 |
45,83 |
10.052.666,16 |
32,93 |
9.499.076,42 |
30,23 |
|
I. Intangible assets |
56.367,00 |
0,25 |
77.814,59 |
0,25 |
493.103,68 |
1,57 |
|
2. Concessions |
152,00 |
0,00 |
11.900,67 |
0,04 |
|
|
|
3. Patents, licences , trademarks and similars |
28.130,00 |
0,13 |
28.129,50 |
0,09 |
|
|
|
5. Software |
28.085,00 |
0,13 |
37.784,42 |
0,12 |
|
|
|
II. Tangible fixed assets |
7.564.413,00 |
33,80 |
7.979.941,84 |
26,14 |
8.930.742,49 |
28,43 |
|
1. Property, plant and equipment |
4.140.495,00 |
18,50 |
4.190.734,81 |
13,73 |
|
|
|
2. Technical fittings and other tangible assets |
3.423.918,00 |
15,30 |
3.789.207,03 |
12,41 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
|
|
|
|
|
|
|
V. Long Term Financial Investments |
84.857,00 |
0,38 |
75.122,40 |
0,25 |
75.230,25 |
0,24 |
|
1. Net worth instruments |
81.537,00 |
0,36 |
71.910,26 |
0,24 |
71.910,26 |
0,23 |
|
5. Other financial assets |
3.320,00 |
0,01 |
3.212,14 |
0,01 |
3.319,99 |
0,01 |
|
VI. Assets by deferred taxes |
2.551.381,00 |
11,40 |
1.919.787,33 |
6,29 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
12.121.153,00 |
54,17 |
20.477.622,15 |
67,07 |
21.919.019,75 |
69,77 |
|
I. Non-current assets maintained for sale |
50.635,00 |
0,23 |
275.979,47 |
0,90 |
|
|
|
II. Stocks |
6.083.804,00 |
27,19 |
9.734.605,03 |
31,89 |
8.146.032,54 |
25,93 |
|
2. Raw material inventory |
901.366,00 |
4,03 |
1.703.147,76 |
5,58 |
|
|
|
4. Finished goods |
5.181.527,00 |
23,15 |
7.953.610,27 |
26,05 |
|
|
|
b) Short production cycle |
5.181.527,00 |
23,15 |
7.953.610,27 |
26,05 |
|
|
|
6. Pre-payments to suppliers |
911,00 |
0,00 |
77.847,00 |
0,25 |
|
|
|
III. Trade Debtors and other receivable accounts |
5.642.021,00 |
25,21 |
10.109.807,52 |
33,11 |
13.605.337,06 |
43,30 |
|
1. Clients |
4.689.530,00 |
20,96 |
9.618.880,43 |
31,51 |
11.882.245,20 |
37,82 |
|
b) Clients for sales and short term services
rendering |
4.689.530,00 |
20,96 |
9.618.880,43 |
31,51 |
|
|
|
2. Clients group and associated companies |
821.806,00 |
3,67 |
|
|
|
|
|
3. Other debts |
416,00 |
0,00 |
416,37 |
0,00 |
19.546,71 |
0,06 |
|
4. Staff |
9,00 |
0,00 |
2.165,06 |
0,01 |
55.050,78 |
0,18 |
|
6. Other credits with the Public Administrations |
130.260,00 |
0,58 |
488.345,66 |
1,60 |
1.648.494,37 |
5,25 |
|
IV. Short term investments in associated and affiliated companies |
|
|
|
|
|
|
|
V. Short term financial investments |
|
|
|
|
15.205,30 |
0,05 |
|
1. Net worth instruments |
|
|
|
|
15.205,30 |
0,05 |
|
VI. Short term periodifications |
59.357,00 |
0,27 |
171.132,34 |
0,56 |
131.583,84 |
0,42 |
|
VII. Cash and equivalents |
285.336,00 |
1,28 |
186.097,79 |
0,61 |
20.861,01 |
0,07 |
|
1. Treasury |
285.336,00 |
1,28 |
186.097,79 |
0,61 |
20.861,01 |
0,07 |
|
TOTAL ASSETS (A + B) |
22.378.171,00 |
100,00 |
30.530.288,31 |
100,00 |
31.418.096,17 |
100,00 |
Alerts associated to the conversion to PGC2007
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 €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
8.206.889,00 |
36,67 |
9.615.799,37 |
31,50 |
7.606.320,29 |
24,21 |
|
A-1) Equity |
8.084.224,00 |
36,13 |
9.517.520,02 |
31,17 |
7.580.790,60 |
24,13 |
|
I. Capital |
570.950,00 |
2,55 |
570.950,00 |
1,87 |
259.632,00 |
0,83 |
|
1. Authorized capital |
570.950,00 |
2,55 |
570.950,00 |
1,87 |
259.632,00 |
0,83 |
|
II. Issue premium |
2.686.348,00 |
12,00 |
2.686.348,01 |
8,80 |
|
|
|
III. Reserves |
10.325.908,00 |
46,14 |
10.325.907,75 |
33,82 |
10.379.557,75 |
33,04 |
|
1. Legal and statutory |
74.646,00 |
0,33 |
|
|
74.645,70 |
0,24 |
|
2. Other funds |
10.251.262,00 |
45,81 |
10.325.907,75 |
33,82 |
10.304.912,05 |
32,80 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
-4.065.686,00 |
-18,17 |
-3.058.399,15 |
-10,02 |
|
|
|
2. (Prior years losses) |
-4.065.686,00 |
-18,17 |
-3.058.399,15 |
-10,02 |
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-1.433.296,00 |
-6,40 |
-1.007.286,59 |
-3,30 |
-3.058.399,15 |
-9,73 |
|
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 |
122.665,00 |
0,55 |
98.279,35 |
0,32 |
25.529,69 |
0,08 |
|
B) NON CURRENT LIABILITIES |
2.770.517,00 |
12,38 |
3.939.520,43 |
12,90 |
1.567.303,18 |
4,99 |
|
I. Long term provisions |
|
|
359.348,37 |
1,18 |
|
|
|
4. Other provisions |
|
|
359.348,37 |
1,18 |
|
|
|
II. Long term debts |
2.770.517,00 |
12,38 |
3.580.172,06 |
11,73 |
1.556.361,89 |
4,95 |
|
2. Debts with bank entities |
2.635.975,00 |
11,78 |
3.381.482,84 |
11,08 |
1.290.417,13 |
4,11 |
|
5. Other financial liabilities |
134.542,00 |
0,60 |
198.689,22 |
0,65 |
265.944,76 |
0,85 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
|
|
|
|
10.941,29 |
0,03 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
11.400.765,00 |
50,95 |
16.974.968,51 |
55,60 |
22.244.472,70 |
70,80 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
102.334,00 |
0,46 |
|
|
|
|
|
III. Short term debts |
5.901.248,00 |
26,37 |
8.522.640,19 |
27,92 |
13.488.547,83 |
42,93 |
|
2. Debts with bank entities |
5.837.101,00 |
26,08 |
8.454.584,87 |
27,69 |
13.488.547,83 |
42,93 |
|
5. Other financial liabilities |
64.147,00 |
0,29 |
68.055,32 |
0,22 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
5.397.183,00 |
24,12 |
8.452.328,32 |
27,69 |
8.755.924,87 |
27,87 |
|
1. Suppliers |
3.468.860,00 |
15,50 |
7.051.391,24 |
23,10 |
8.154.382,53 |
25,95 |
|
b) Short term suppliers |
3.468.860,00 |
15,50 |
7.051.391,24 |
23,10 |
|
|
|
2. Suppliers group and associated companies |
12.117,00 |
0,05 |
|
|
|
|
|
3. Different creditors |
1.603.909,00 |
7,17 |
885.959,98 |
2,90 |
|
|
|
4. Staff (pending remunerations) |
246.337,00 |
1,10 |
332.117,16 |
1,09 |
366.955,68 |
1,17 |
|
5. Liabilities by current taxes |
|
|
98.555,44 |
0,32 |
|
|
|
6. Other debts with Public Administrations |
65.960,00 |
0,29 |
84.304,50 |
0,28 |
234.586,66 |
0,75 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
22.378.171,00 |
100,00 |
30.530.288,31 |
100,00 |
31.418.096,17 |
100,00 |
Alerts associated to the conversion to PGC2007
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 |
15.914.823,00 |
96,70 |
27.376.213,33 |
97,04 |
29.355.360,20 |
99,46 |
|
A) Sales |
15.913.423,00 |
96,69 |
27.376.213,33 |
97,04 |
29.355.360,20 |
99,46 |
|
b) Services provided |
1.400,00 |
0,01 |
|
|
|
|
|
2. Variation in stocks of finished goods and work in progress |
-2.772.084,00 |
-16,84 |
1.538.577,95 |
5,45 |
-1.357.790,06 |
-4,60 |
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-7.820.846,00 |
-47,52 |
-16.418.271,04 |
-58,20 |
-19.336.218,98 |
-65,52 |
|
a) Material consumed |
|
|
-3.658,37 |
-0,01 |
-1.571,87 |
-0,01 |
|
b) Raw materials consumed |
-7.625.461,00 |
-46,33 |
-15.857.273,51 |
-56,21 |
-18.837.844,67 |
-63,83 |
|
c) Works carried out for other companies |
-195.385,00 |
-1,19 |
-557.339,16 |
-1,98 |
-496.802,44 |
-1,68 |
|
5. Other operating income |
543.440,00 |
3,30 |
834.356,67 |
2,96 |
158.647,13 |
0,54 |
|
a) Other incomes |
543.440,00 |
3,30 |
834.356,67 |
2,96 |
133.994,42 |
0,45 |
|
b) Operating grants included in the exercise result |
|
|
|
|
24.652,71 |
0,08 |
|
6. Labour cost |
-3.109.527,00 |
-18,89 |
-4.334.924,59 |
-15,37 |
-4.028.781,86 |
-13,65 |
|
a) Wages and similar expenses |
-2.436.399,00 |
-14,80 |
-3.405.164,58 |
-12,07 |
|
|
|
b) Social costs |
-673.128,00 |
-4,09 |
-929.760,01 |
-3,30 |
|
|
|
7. Other operating costs |
-3.406.256,00 |
-20,70 |
-7.870.488,72 |
-27,90 |
-7.671.110,17 |
-25,99 |
|
a) External services |
-3.069.034,00 |
-18,65 |
-7.025.720,54 |
-24,90 |
-5.838.993,29 |
-19,78 |
|
b) Taxes |
-33.078,00 |
-0,20 |
-106.461,19 |
-0,38 |
-40.646,24 |
-0,14 |
|
c) Losses, deterioration and variation on business operations
provisions |
-201.810,00 |
-1,23 |
-378.958,61 |
-1,34 |
-24.399,17 |
-0,08 |
|
d) Other day to day expenses |
-102.334,00 |
-0,62 |
-359.348,38 |
-1,27 |
-1.767.071,47 |
-5,99 |
|
8. Amortization of fixed assets |
-536.965,00 |
-3,26 |
-1.083.249,14 |
-3,84 |
-921.088,37 |
-3,12 |
|
9. Allocation of subventions on non financial investments and other |
19.340,00 |
0,12 |
82.868,10 |
0,29 |
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
-92.034,00 |
-0,56 |
-380.294,82 |
-1,35 |
|
|
|
a) Deteriorations and losses |
|
|
-410.744,82 |
-1,46 |
|
|
|
b) Results for disposals and others |
-92.034,00 |
-0,56 |
30.450,00 |
0,11 |
|
|
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
|
|
2.350,83 |
0,01 |
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
-1.260.109,00 |
-7,66 |
-252.861,43 |
-0,90 |
-3.800.982,11 |
-12,88 |
|
14. Financial income |
2.713,00 |
0,02 |
8.226,14 |
0,03 |
9.183,97 |
0,03 |
|
a) From net worth instruments participations |
|
|
192,28 |
0,00 |
856,41 |
0,00 |
|
a 2) On third parties |
|
|
192,28 |
0,00 |
856,41 |
0,00 |
|
b) From negotiable values and other financial instruments |
2.713,00 |
0,02 |
8.033,86 |
0,03 |
1.332,32 |
0,00 |
|
b 2) From third parties |
2.713,00 |
0,02 |
8.033,86 |
0,03 |
1.332,32 |
0,00 |
|
c) Allocation of financial legacies, grants and subventions |
|
|
|
|
6.995,24 |
0,02 |
|
15. Financial expenses |
-817.462,00 |
-4,97 |
-1.281.040,21 |
-4,54 |
-763.905,81 |
-2,59 |
|
b) For debts with third parties |
-817.462,00 |
-4,97 |
-1.281.040,21 |
-4,54 |
-763.905,81 |
-2,59 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
-427,00 |
0,00 |
-1,40 |
0,00 |
-10.118,23 |
-0,03 |
|
18. Deterioration and result for disposal of financial instruments |
-55,00 |
0,00 |
3.337,65 |
0,01 |
|
|
|
a) Deteriorations and losses |
-55,00 |
0,00 |
-318,20 |
0,00 |
|
|
|
b) Results for disposals and others |
|
|
3.655,85 |
0,01 |
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-815.231,00 |
-4,95 |
-1.269.477,82 |
-4,50 |
-764.840,07 |
-2,59 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-2.075.340,00 |
-12,61 |
-1.522.339,25 |
-5,40 |
-4.565.822,18 |
-15,47 |
|
20. Taxes on profits |
642.044,00 |
3,90 |
515.052,66 |
1,83 |
1.507.423,03 |
5,11 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-1.433.296,00 |
-8,71 |
-1.007.286,59 |
-3,57 |
-3.058.399,15 |
-10,36 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-1.433.296,00 |
-8,71 |
-1.007.286,59 |
-3,57 |
-3.058.399,15 |
-10,36 |
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.
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 €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-1.433.296,00 |
-1.007.286,59 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
54.176,00 |
186.796,19 |
|
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 |
-16.253,00 |
-56.038,86 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
37.923,00 |
130.757,33 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
-19.340,00 |
-82.868,10 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
5.803,00 |
24.860,83 |
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
-13.537,00 |
-58.007,27 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-1.408.910,00 |
-934.536,53 |
Total net worth
changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
RESULTS FROM PREVIOUS EXERCISES |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
259.632,00 |
|
10.521.914,86 |
-3.058.399,15 |
|
I. Adjustments by change of criteria in the exercise (2007) |
|
|
-142.356,91 |
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
259.632,00 |
|
10.379.557,75 |
-3.058.399,15 |
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
311.318,00 |
2.686.348,01 |
|
|
|
1. Capital Increases |
311.318,00 |
2.686.348,01 |
|
|
|
III. Other net worth variations |
|
|
-53.650,00 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
570.950,00 |
2.686.348,00 |
10.325.908,00 |
-3.058.399,00 |
|
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) |
570.950,00 |
2.686.348,00 |
10.325.908,00 |
-3.058.399,00 |
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
-1.007.287,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
570.950,00 |
2.686.348,00 |
10.325.908,00 |
-4.065.686,00 |
|
NET WORTH CHANGES ( 3 /3) |
EXERCISE RESULT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
-3.058.399,15 |
36.470,98 |
7.759.618,49 |
|
|
I. Adjustments by change of criteria in the exercise (2007) |
|
-10.941,29 |
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
-3.058.399,15 |
25.529,59 |
4.547.921,14 |
|
|
I. Total recognized income and expenses |
-1.007.286,59 |
72.749,66 |
-934.536,93 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
1. Capital Increases |
|
|
|
|
|
III. Other net worth variations |
3.058.399,15 |
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-1.007.287,00 |
98.279,00 |
9.615.799,00 |
|
|
I. Adjustments by change of criteria in the exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2009) |
-1.007.287,00 |
98.279,00 |
9.615.799,00 |
|
|
I. Total recognized income and expenses |
-1.433.296,00 |
24.386,00 |
-1.408.910,00 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
1.007.287,00 |
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-1.433.296,00 |
122.665,00 |
8.206.889,00 |
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
1. exercise result before taxes |
-2.075.340,00 |
-1.007.286,59 |
|
2. Results adjustments |
1.300.958,00 |
3.329.172,78 |
|
a) Amortization of fixed assets (+) |
536.966,00 |
1.083.249,14 |
|
b) Value correction for deterioration (+/-) |
201.963,00 |
669.703,43 |
|
c) Change of Provisions (+/-) |
|
359.348,37 |
|
d) Grants allocation (-) |
-19.340,00 |
-82.868,10 |
|
e) Results for decline and disposal of fixed assets (+/-) |
95.951,00 |
-30.449,69 |
|
g) Financial income (-) |
-2.713,00 |
-11.881,99 |
|
f) Financial expenses (+) |
817.462,00 |
1.342.070,22 |
|
i) Change difference (+/-) |
|
1,40 |
|
k) Other income and expenses (-/+) |
-329.331,00 |
|
|
3. Changes in current capital |
2.230.103,00 |
74.837,19 |
|
a) Stocks (+/-) |
3.650.801,00 |
-1.635.629,23 |
|
b) Debtors and other receivable accounts (+/-) |
4.265.879,00 |
2.023.536,50 |
|
d) Creditors and other payable accounts (+/-) |
-5.686.577,00 |
-274.160,04 |
|
e) Other current liabilities (+/-) |
|
-37.958,36 |
|
f) Other non-current assets and liabilities (+/-) |
|
-951,68 |
|
4. Other cash flow coming from operating activities |
-814.749,00 |
-1.784.210,88 |
|
a) Interests payments (-) |
-817.462,00 |
-1.281.040,21 |
|
c) Interests collections (+) |
2.713,00 |
11.881,99 |
|
d) Collections (payments) for profit tax (+/-) |
|
-515.052,66 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
640.972,00 |
612.512,50 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-119.504,00 |
-1.238.281,67 |
|
b) Intangible assets |
-3.971,00 |
-416.035,85 |
|
c) Tangible assets |
-105.533,00 |
-103.673,55 |
|
d) Real state investments |
|
-313.174,73 |
|
e) Other financial assets |
-10.000,00 |
-275.979,47 |
|
h) Other assets |
|
-129.418,07 |
|
7. Disinvestment collections (+) |
323.210,00 |
832.999,69 |
|
b) Intangible assets |
122.400,00 |
832.999,69 |
|
c) Tangible assets |
600,00 |
|
|
e) Other financial assets |
210,00 |
|
|
f) Non-current assets maintained for sale |
200.000,00 |
|
|
8. Cash Flow in investment activities (6 + 7) |
203.706,00 |
-405.281,98 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
54.176,00 |
3.275.488,67 |
|
a) Net worth instruments issue (+) |
|
3.088.692,48 |
|
e) Received legacies, grants and subventions (+) |
54.176,00 |
186.796,19 |
|
10. Financial liabilities instruments collections and payments |
-799.616,00 |
-3.317.481,01 |
|
a) Issue |
|
-9.544.610,67 |
|
2. Debts with bank entities (+) |
|
-9.496.050,00 |
|
5. Other debts (+) |
|
-48.560,67 |
|
b) Return and amortization of |
-799.616,00 |
6.227.129,66 |
|
2. Debts with bank entities (-) |
-799.616,00 |
5.979.879,77 |
|
5. Other debts (-) |
|
247.249,89 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
|
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-745.440,00 |
-41.992,34 |
|
D) Exchange rate variations effect |
|
-1,40 |
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
99.238,00 |
165.236,78 |
|
Cash or equivalents at the beginning of the exercise |
186.098,00 |
20.861,01 |
|
Cash or equivalents at the end of the exercise |
285.336,00 |
186.097,79 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
720.388,00 |
-79,43 |
3.502.653,64 |
1.176,24 |
-325.452,95 |
|
Working capital ratio |
0,03 |
-75,00 |
0,12 |
1.300,00 |
-0,01 |
|
Soundness Ratio |
0,79 |
-16,84 |
0,95 |
18,75 |
0,80 |
|
Average Collection Period (days) |
128 |
-3,79 |
133 |
-20,30 |
167 |
|
Average Payment Period (days) |
173 |
38,22 |
125 |
7,41 |
117 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
106,32 |
-11,86 |
120,63 |
22,42 |
98,54 |
|
Quick Ratio (%) |
2,50 |
127,27 |
1,10 |
587,50 |
0,16 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
38,75 |
-2,25 |
39,64 |
-17,23 |
47,89 |
|
External Financing Average Cost |
0,09 |
-18,18 |
0,11 |
120,00 |
0,05 |
|
Debt Service Coverage |
13,53 |
-31,53 |
19,76 |
380,68 |
-7,04 |
|
Interest Coverage |
-1,54 |
-670,00 |
-0,20 |
95,98 |
-4,98 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
4,03 |
79,91 |
2,24 |
130,77 |
-7,28 |
|
Auto financing generated by Assets (%) |
2,86 |
42,29 |
2,01 |
129,56 |
-6,80 |
|
Breakdown Point |
0,93 |
-6,06 |
0,99 |
11,24 |
0,88 |
|
Average Sales Volume per Employee |
206.525,08 |
-18,53 |
253.483,46 |
-10,20 |
282.263,08 |
|
Average Cost per Employee |
40.352,02 |
0,53 |
40.138,19 |
3,61 |
38.738,29 |
|
Assets Turnover |
0,71 |
-21,11 |
0,90 |
-3,23 |
0,93 |
|
Inventory Turnover (days) |
280 |
31,20 |
213 |
40,86 |
152 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-5,63 |
-578,31 |
-0,83 |
93,14 |
-12,10 |
|
Operating Profitability (%) |
-3,64 |
-347,62 |
1,47 |
116,03 |
-9,17 |
|
Return on Equity (ROE) (%) |
-25,67 |
-60,54 |
-16,00 |
73,45 |
-60,23 |
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 |
45,83 |
51,82 |
-5,99 |
|
A) CURRENT ASSETS |
54,17 |
48,18 |
5,99 |
|
LIABILITIES |
|||
|
A) NET WORTH |
36,67 |
58,94 |
-22,27 |
|
B) NON CURRENT LIABILITIES |
12,38 |
12,24 |
0,14 |
|
C) CURRENT LIABILITIES |
50,95 |
28,82 |
22,13 |
|
|
|
|
|
Analytical Account
of Results
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
96,70 |
99,20 |
-2,49 |
|
Other operating income |
3,30 |
0,80 |
2,49 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-47,52 |
-46,22 |
-1,30 |
|
Variation in stocks of finished goods and work in progress |
-16,84 |
1,24 |
-18,08 |
|
GROSS MARGIN |
35,64 |
55,01 |
-19,37 |
|
Other operating costs |
-20,70 |
-23,33 |
2,63 |
|
Labour cost |
-18,89 |
-17,52 |
-1,38 |
|
GROSS OPERATING RESULT |
-3,95 |
14,16 |
-18,11 |
|
Amortization of fixed assets |
-3,26 |
-6,14 |
2,88 |
|
Deterioration and result for fixed assets disposal |
-0,56 |
0,63 |
-1,19 |
|
Other expenses / income |
0,12 |
|
|
|
NET OPERATING RESULT |
-7,66 |
8,65 |
-16,31 |
|
Financial result |
-4,95 |
-0,12 |
-4,83 |
|
RESULT BEFORE TAX |
-12,61 |
8,52 |
-21,13 |
|
Taxes on profits |
3,90 |
-1,77 |
5,67 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
-8,71 |
|
|
|
NET RESULT |
-8,71 |
6,76 |
-15,46 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
720.388,00 |
464.446,59 |
2.029.529,92 |
4.723.906,22 |
|
Working capital ratio |
0,03 |
0,07 |
0,17 |
0,23 |
|
Soundness Ratio |
0,79 |
0,78 |
1,05 |
1,31 |
|
Average Collection Period (days) |
128 |
87 |
116 |
136 |
|
Average Payment Period (days) |
173 |
59 |
99 |
111 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
106,32 |
1,20 |
1,66 |
2,42 |
|
Quick Ratio (%) |
2,50 |
0,05 |
0,18 |
0,63 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
38,75 |
8,14 |
20,05 |
43,28 |
|
External Financing Average Cost |
0,09 |
0,04 |
0,06 |
0,07 |
|
Debt Service Coverage |
13,53 |
0,63 |
1,53 |
4,50 |
|
Interest Coverage |
-1,54 |
1,44 |
5,30 |
13,98 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
4,03 |
8,83 |
12,76 |
19,80 |
|
Auto financing generated by Assets (%) |
2,86 |
7,18 |
10,69 |
14,31 |
|
Breakdown Point |
0,93 |
1,05 |
1,09 |
1,16 |
|
Average Sales Volume per Employee |
206.525,08 |
116.363,61 |
183.793,84 |
292.386,86 |
|
Average Cost per Employee |
40.352,02 |
27.160,18 |
29.369,40 |
34.982,90 |
|
Assets Turnover |
0,71 |
0,62 |
0,83 |
1,10 |
|
Inventory Turnover (days) |
280 |
105 |
191 |
314 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-5,63 |
4,00 |
7,55 |
11,63 |
|
Operating Profitability (%) |
-3,64 |
7,90 |
11,69 |
19,55 |
|
Return on Equity (ROE) (%) |
-25,67 |
6,76 |
10,60 |
24,56 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.98 |
|
UK Pound |
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
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.