MIRA
INFORM REPORT
|
Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
TEXTIL SANTANDERINA SA |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
1.698.682,00 € |
|
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 – 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 |
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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 |
INVESTIGATED REPORT
TEXTIL SANTANDERINA SA
TAX NUMBER: A39001219
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: TEXTIL SANTANDERINA SA
Other names: YES
Current Address: CALLE VARGAS, 59 - PLT BJ
Branches: 6
Telephone number: 942700125 Fax: 942701711
URL: www.textilsantanderina.com
Corporate e-mail: ventas@tsanta.es
Trade Risk
Credit Appraisal: 1.698.682,00 €
Incidents: NO
R.A.I.: NO
Bank and business defaults of payment - ASNEF INDUSTRIAL: NO
Financial Information
Balance sheet latest sales (2009): 75.524.877,84 € (Trade Register)
Result: -1.944.567,72 €
Total Assets: 82.594.956,62 €
Social Capital: 6.484.800,40 €
Employees: 379
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 05/12/1960
Activity: Textile industry
NACE 2009 CODE: 1320
International Operations: Exports
Corporate Structure
President:
Participations: 10
TRADE RISK
Credit Appraisal
Maximum Credit
(from 0 to 6,000,000
€)
Favourable to 1.698.682,00 €
Financial Situation
Exercise:2009
|
Treasury |
Excellent |
|
Indebtedness |
Very low |
|
Profitability |
Unfavourable |
|
Balance |
Excellent |
Performance
|
Incidents |
None or Negligible |
|
Business Trajectory |
|
Summary
LEGAL ACTIONS: No legal actions
ADMINISTRATIVE CLAIMS: No administrative claims
AFFECTED BY:
3 Company / Companies in Insolvency Proceedings.
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) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
26.369.116,79 |
31,93 |
18.927.673,04 |
23,35 |
20.121.304,44 |
23,70 |
|
B) CURRENT ASSETS |
56.225.839,83 |
68,07 |
62.141.877,03 |
76,65 |
64.765.874,92 |
76,30 |
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LIABILITIES |
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A) NET WORTH |
61.296.397,22 |
74,21 |
63.963.054,46 |
78,90 |
66.900.911,10 |
78,81 |
|
B) NON CURRENT LIABILITIES |
2.970.390,45 |
3,60 |
3.278.291,69 |
4,04 |
2.812.313,53 |
3,31 |
|
C) CURRENT LIABILITIES |
18.328.168,95 |
22,19 |
13.828.203,92 |
17,06 |
15.173.954,73 |
17,88 |
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 |
75.524.877,84 |
|
73.135.094,99 |
|
80.322.759,10 |
|
|
GROSS MARGIN |
23.017.321,65 |
30,48 |
27.340.262,35 |
37,38 |
39.677.135,65 |
49,40 |
|
EBITDA |
138.592,87 |
0,18 |
1.989.625,26 |
2,72 |
2.682.412,57 |
3,34 |
|
EBIT |
-2.191.588,85 |
-2,90 |
-355.035,21 |
-0,49 |
-180.981,59 |
-0,23 |
|
ET RESULT |
-1.944.567,72 |
-2,57 |
-2.258.804,76 |
-3,09 |
722.298,20 |
0,90 |
|
EFFECTIVE TAX RATE (%) |
|
|
|
|
22,27 |
|
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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A) NON CURRENT ASSETS |
31,93 |
48,44 |
-16,51 |
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A) CURRENT ASSETS |
68,07 |
51,56 |
16,51 |
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LIABILITIES |
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A) NET WORTH |
74,21 |
55,11 |
19,10 |
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B) NON CURRENT LIABILITIES |
3,60 |
14,66 |
-11,06 |
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|
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C) CURRENT LIABILITIES |
22,19 |
30,23 |
-8,04 |
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COMPANY (2009) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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|
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SALES |
98,92 |
98,18 |
0,74 |
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GROSS MARGIN |
30,15 |
39,69 |
-9,54 |
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EBITDA |
0,18 |
5,34 |
-5,16 |
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EBIT |
-2,87 |
1,33 |
-4,20 |
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NET RESULT |
-2,55 |
0,90 |
-3,45 |
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Sector Composition
Compared sector (NACE 2009): 132
Number of companies: 58
Size (Sales Figure): > 7,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2009
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
-1.944.567,72 |
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 |
-1.944.567,72 |
Dividends |
0,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
-1.944.567,72 |
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Application total |
-1.944.567,72 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: BDO-AUDIBERIA AUDITORES S.L.
Auditing fees: 11.800,00 €
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.
ADDRESSES
Current Legal Seat Address:
CALLE VARGAS, 59 - PLT BJ
39010
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
COLONIA AGAFALLOPS (S/N), S/N |
17500 |
RIPOLL |
|
|
CALLE AYALA, 13 |
28001 |
|
|
|
PASEO INFANTA ISABEL, 29 |
28014 |
|
|
|
CARRETERA NACIONAL 634 (( |
39500 |
CABEZON DE LA SAL |
Cantabria |
|
BARRIO SANTA LUCIA |
39592 |
CABEZON DE LA SAL |
Cantabria |
|
AVENIDA TEXTIL SANTANDERINA |
39500 |
CABEZON DE LA SAL |
Cantabria |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Main Board members, Directors and Auditor
|
POSITION |
NAME AND SURNAME |
APPOINTMENT DATE |
|
|
PRESIDENT |
PARES BOJ JUAN ANGEL |
06/09/2010 |
|
|
MANAGING DIRECTOR |
BENET CAMPS JORGE |
06/09/2010 |
|
|
MANAGING DIRECTOR |
PARES SERRA JUAN MARIA |
06/09/2010 |
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MEMBER OF THE BOARD |
BOJ VILALTA PILAR |
06/09/2010 |
|
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MEMBER OF THE BOARD |
PARES BOJ CONRADO |
06/09/2010 |
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MEMBER OF THE BOARD |
SERRA ROQUE CRISTINA |
06/09/2010 |
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MEMBER OF THE BOARD |
SERRA ROQUE NURIA |
06/09/2010 |
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AUDITOR |
APPOINTMENT DATE |
||
|
BDO AUDITORES SL |
08/02/2011 |
||
Board members remuneration
Source: Annual
financial report 2009
Board
members remuneration: 123.778,09 €
Functional Managers
|
POSITION |
NAME AND SURNAME |
|
General Manager |
PARES SERRA JUAN MARIA |
|
Financial Director |
|
|
Human Resources Director |
RIOS RAMON |
|
Commercial Director |
RIOS CASTRO RAMON |
FINANCIAL LINKS
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
PARES SERRA JUAN MARIA |
|
22,05 |
OWN SOURCES |
28/01/2009 |
|
GESTION DE BIENES Y SERVICIOS SA |
A58460122 |
15,49 |
TRADE REG. |
31/12/2009 |
|
BOJ VILALTA PILAR |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
BENET CAMPS JORGE |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
SERRA ROQUE GLORIA |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
SERRA ROQUE NURIA |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
PARES BOJ JUAN ANGEL |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
SERRA ROQUE MARIA |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
SERRA ROQUE CRISTINA |
|
Indef. |
OWN SOURCES |
28/01/2009 |
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
TEXTIL SANTANDERINA SA |
A39001219 |
1,91 |
TRADE REG. |
31/12/2009 |
|
SERRA ROQUE JOSEFINA |
|
Indef. |
OWN SOURCES |
22/02/2008 |
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
TEXTIL SANTANDERINA USA INC |
UNITED STATES |
100,00 |
TRADE REG. |
31/12/2009 |
|
SANTEX ( |
|
100,00 |
TRADE REG. |
31/12/2009 |
|
JOINT VENTURE COMPANY |
|
50,00 |
OWN SOURCES |
01/06/2005 |
|
MONRETEX SA |
A60529757 |
50,00 |
OWN SOURCES |
27/01/2010 |
|
ACABATS DEL BAGES SA |
A58494048 |
47,40 |
OWN SOURCES |
27/01/2010 |
|
INVESTIGACION ASESORAMIENTO Y DESARROLLO TEXTIL INADE S.A. |
A60053576 |
25,00 |
TRADE REG. |
31/12/2009 |
|
ACUIDORO SL |
B15139785 |
13,07 |
TRADE REG. |
31/12/2009 |
|
FABRICA ESPANOLA DE CONFECCIONES SA |
A28030062 |
11,96 |
OWN SOURCES |
12/05/2010 |
|
INMOBILIARIA TEXTIL ALGODONERA SA |
A08103020 |
Indef. |
OWN SOURCES |
01/06/2005 |
|
GOCCO CONFEC S.A. |
A82691171 |
Indef. |
OWN SOURCES |
12/01/2011 |
|
BUSINESS NAME |
CIF / COUNTRY |
% |
SOURCE |
DATE REP. |
|
LAUNDRY JEANS MAROC |
|
100,00 |
TRADE REG. |
31/12/2009 |
|
VAREN GRUPO INDUSTRIAL SA (EXTINGUIDA) |
A78875671 |
36,11 |
B.O.R.M.E. |
17/11/2000 |
|
VALORIATEX SL. |
B39560206 |
25,00 |
TRADE REG. |
31/12/2009 |
CREDIT INFORMATION
Incorporation date: 05/12/1960
Establishment date: 01/01/1930
Founder’s Name: Hermanos González Cosio, siendo aportados en 1939 a
Cuito y Cía. Textil Santanderina, S.L., la cual fue aportada a la anónima
titular, que se constituyó al efecto
NACE 2009 CODE: 1320
NACE 2009 Activity: Weaving of textiles
Business: Manufacture of yarn, fabrics,
dyes, bleaching, sizing, printing and finishing OF ANY KIND AND ALTERNATIVE
FIBRE MISMASY OF SALE, SELF OR OTHERS, WHETHER IN SPAIN AND IN THE EXTRA
Environmental information: YES (Page 51 -
52) Annual financial report 2009
Latest employees figure: 379 (2009)
% of fixed employees: 91,56%
% of temporary employees: 8,44%
% of men: 69,54%
% of women: 30,46%
Employees evolution
|
|
|
|
Source: Annual financial report 2009
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Senior management |
8 |
8 |
|
|
Administrative employees |
11 |
6 |
5 |
|
Sales representatives and similar |
13 |
7 |
6 |
|
Non qualified employees |
347 |
237 |
102 |
SALES
Export Percentage: 39%
Exports to: OTROS PAISES
National Distribution: 61%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
TEMA SL |
NO |
|
MONTSIA TEXTIL
SA |
NO |
|
GALICIA TEXTIL
SA |
NO |
|
GERONA TEXTIL SA |
NO |
|
VICH INDUSTRIAL
SA |
NO |
|
FABRICA ESPAÑOLA
DE CONFECCIONES SA |
NO |
|
MONRETEX SA |
NO |
|
INADE SA |
NO |
|
ACABATS DEL
BAGES SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
MONTSIA TEXTIL
SA |
NO |
|
GALICIA TEXTIL
SA |
NO |
|
GERONA TEXTIL SA |
NO |
|
VICH INDUSTRIAL
SA |
NO |
|
GILDELASAL SL |
NO |
|
FABRICA ESPAÑOLA
DE CONFECCIONES SA |
NO |
|
MONTEREX SA |
NO |
|
ACABATS DEL
BAGES SA |
NO |
|
LAUNDRY JEAN
MAROC |
YES |
•
El 0.02% de su cifra de negocio corresponde a
prestación de servicios.
•
El 0.48% de su cifra de negocio corresponde a
ventas de subproductos y residuos.
•
El 2.03% de su cifra de negocio corresponde a
ventas de energía eléctrica.
•
El 2.60% de su cifra de negocio corresponde a
ventas de floca/fibras.
•
El 3% de su cifra de negocio corresponde a ventas
de hilados.
•
El 9.65% de su cifra de negocio corresponde a ventas
de prendas confeccionadas.
•
El 82.22% de su cifra de negocio corresponde a
venta de tejidos.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO POPULAR |
0890 |
AV. CANTABRIA 7 |
CABEZON DE LA SAL |
Cantabria |
|
BANCO SANTANDER, S.A. |
4861 |
PZ DE LA PAZ |
CABEZON DE LA SAL |
Cantabria |
|
BANCO SANTANDER, S.A. |
5400 |
PS DE PEREDA 9 APDO. 00000 |
|
Cantabria |
|
BANCO ESPAÑOL DE CREDITO, S.A. |
7182 |
CL HERNAN CORTES 11 APDO. 170 |
|
Cantabria |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
CABEZON DE LA SAL |
|
Discount facilities: 1
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 4
|
|
|
|
Debt type: Credit policy |
Granted limit:1.500.000,00 € Used limit:280.205,98 € Available limit:1.219.794,02
€ Source: Filed
Accounts (2009) |
|
|
|
|
Debt type: Discount
facilities |
Granted limit:10.400.000,00 € Used limit:2.734.294,86
€ Available limit:7.665.705,14
€ Source: Filed
Accounts (2009) |
|
|
|
|
Entity:BANCO SANTANDER, S.A. Debt type: Loans with no
real security |
Granted amount:1.280.918,07 € Total outstanding amount:1.280.918,07
€ Source: Filed
Accounts (2009) |
|
|
|
|
Entity:BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Debt type: Loans with no
real security |
Granted amount:600.000,00 € Total outstanding amount:508.108,06
€ Source: Filed
Accounts (2009) |
|
|
|
|
Entity:BANCO SANTANDER, S.A. Debt type: Loans with no
real security |
Granted amount:1.000.000,00 € Total outstanding amount:416.666,89
€ Source: Filed
Accounts (2009) |
|
|
|
Grants
|
|
|
|
Body-entity: Grant type: For fixed
assets acquisition Granting year: 2002 |
Nominal amount: 827.130,89 € Source: Filed
Accounts (2009) |
|
Operation description: Inmovilizado material diverso. Proyecto
IRIS para inversión en bienes de equipo |
|
|
|
|
|
Body-entity: Grant type: For fixed
assets acquisition |
Nominal amount: 847.727,58 € Source: Filed
Accounts (2009) |
|
Operation description: Inmovilizado material diverso. Proyecto
IRIS para inversión en bienes de equipo |
|
|
|
|
|
Body-entity: Grant type: For fixed assets
acquisition |
Nominal amount: 1.154.987,37 € Source: Filed
Accounts (2009) |
|
Operation description: Inmovilizado material diverso. Proyecto
IRIS para inversión en bienes de equipo |
|
|
|
|
FORMER NAMES:
•
CUITO Y COMPANIA SL
Brand name: KERLAST (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 26/03/2010
Brand name: PROTECHS (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 20/05/2008
Brand name: TECHS (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 28/03/2005
Brand name: TS TEXTIL SANTANDERINA (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 03/02/2005
Brand name: EASY FABRICS (Valid)
Type: JOINT Scope: NATIONAL Date: 09/10/2003
LEGAL STRUCTURE
Constitution Data
Register Date: 05/12/1960
Legal form: Joint-stock Company
Social Capital: 6.484.800,40 €
Paid-up capital: 6.484.800,40 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2009)
B.O.R.M.E. (OFFICIAL COMPANIES REGISTRY GAZETTE)
Acts on activity: 1 (Last: 25/06/2009)
Acts on administrators: 48 (Last: 08/02/2011, first:
13/07/1990)
Acts on capital: 5 (Last: 10/05/2010, first:
31/03/1993)
Acts on creation: 0
Acts on filed accounts: 22 (Last: 07/12/2010, first:
30/09/1991)
Acts on identification: 0
Acts on Information: 8 (Last: 25/06/2008, first:
31/03/1993)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Capital reduction |
10/05/2010 |
186550 |
Cantabria |
|
|
|
Amount reduction: 126.332,74 € Subscribed result: 6.484.800,40 € Register Data:
Volume 488, Folio 12, Section 8, Sheet 3469, Inscription I/A
36 (27/04/2010) Publication Data:
Register Cantabria, Gazette 87, Page
23290, Announcement 186550 (10/05/2010) |
|||
Other acts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Appointments |
08/02/2011 |
54952 |
Cantabria |
|
Appointments |
08/02/2011 |
54951 |
Cantabria |
|
Appointments |
06/09/2010 |
341829 |
Cantabria |
|
Resignations |
06/09/2010 |
341829 |
Cantabria |
|
Appointments |
14/12/2009 |
518855 |
Cantabria |
|
Appointments |
14/12/2009 |
518854 |
Cantabria |
|
Registered activity change |
25/06/2009 |
287432 |
Cantabria |
Latest filed accounts
|
ACT |
DATE |
NOTICE NUM. |
TRADE REGISTER |
|
Annual Filed Accounts (2009) |
07/12/2010 |
1126339 |
Cantabria |
|
Annual Filed Accounts (2009) consolidated |
07/12/2010 |
1125845 |
Cantabria |
|
Annual Filed Accounts (2008) |
29/09/2009 |
542355 |
Cantabria |
Press summary by type of information (last five years)
Legal notices: 2 (Last: 15/10/2009, first: 22/12/2007)
Structural Data: 0
Informative data: 2 (Last: 14/12/2010, first: 01/02/2008)
Financial Information: 4 (Last: 03/08/2008, first: 04/01/2006)
Negative information: 0
Business lines: 0
Historical press releases: 12 (Last: 26/11/2005, first:
28/11/1994)
Latest press
article published
14/12/2010
THE DAILY MONTAÑES (Page 42) environmen t The Directorate General of
Environment of Cantabria has awarded the company TEXTILE Santanderina
authorization to replace an actual finish line, with 39 years of age by
indirect heating and drying heat oil called Rame 1, for an art installation
Manufacturer Monforts, natural gas combustion
with direct heating in point.
DAILY MONTAÑES 15/10/2009 - LEGAL ANNOUNCEMENTS UNIVERSAL MEETING OF SHAREHOLDERS OF THE SDAD. HELD ON
29/06/09, agreed to reduce the share capital was established after REDUCTION IN
EUROS 6,484,800.41., Fully subscribed and paid.
AVUI
03/08/2008 - FINANCIAL DATA
THE TEXTILE Santanderina looked
on helplessly REDUCED SALES YEAR AFTER YEAR. IN
2007 THE TURNOVER IS IN 80 MM. AND SURPLUS IS MINIMUM. IN FACT, JUST
WITH SURPLUS ACCOUNT, YOU GOT THE PERCEPTION OF PUBLIC SUBSIDIES. THE LAST
TIME, THE EXPORT PUSH HAS LOST MUCH BUT STILL REPRESENTS 57% OF INCOME. THE
CIA., WITH SOME EQUITY OF 67 MM., Has no bank debt.
DAILY MONTAÑES 29/02/2008 - FINANCIAL DATA
THIS SDAD. GRANTS RECEIVED BY
AMOUNT OF 89,000 EUROS FOR TWO PROJECTS FOR PRODUCING TISSUE RESEARCH. ONE OF
GRANTS BY THE AMOUNT OF EUR 50,864.70, INTENDED FOR RESEARCH ON TECHNIQUES FOR
PRODUCING flame retardant fabrics. THE SECOND OF EUROS subsidy amounted to
38092.80 and is intended for DEVELOPMENT OF NEW TISSUE FOR THE MANUFACTURE OF
FABRICS FOR TIRES.
ECONOMIC CANTABRIA 01/02/2008 - GENERAL INFORMATION
Santanderina TEXTILE COMPANY HAS OBTAINED THE CERTIFICATE ISSUED BY THE TECHNOLOGICAL INSTITUTE OF TEXTILE COMPANIES PRODUCE TEXTILES WITH NO GUARANTEE OF SUBSTANCES HARMFUL TO HEALTH AND NATURE, KNOWN AS CERTIFIED MADE IN GREEN.
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 21/12/2010.
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 |
26.369.116,79 |
31,93 |
18.927.673,04 |
23,35 |
20.121.304,44 |
23,70 |
|
I. Intangible assets |
11.365,81 |
0,01 |
931,29 |
0,00 |
927,21 |
0,00 |
|
2. Concessions |
11.365,81 |
0,01 |
931,29 |
0,00 |
|
|
|
II. Tangible fixed assets |
9.003.662,41 |
10,90 |
9.508.690,70 |
11,73 |
13.315.651,12 |
15,69 |
|
1. Property, plant and equipment |
3.835.976,03 |
4,64 |
4.068.288,80 |
5,02 |
|
|
|
2. Technical fittings and other tangible assets |
5.167.686,38 |
6,26 |
5.440.401,90 |
6,71 |
|
|
|
III. Real-estate investments |
4.164.873,89 |
5,04 |
4.336.712,61 |
5,35 |
|
|
|
2. Buildings |
4.164.873,89 |
5,04 |
4.336.712,61 |
5,35 |
|
|
|
IV. Long term investments in associated and affiliated companies |
11.672.792,68 |
14,13 |
4.802.524,79 |
5,92 |
6.460.186,48 |
7,61 |
|
1. Net worth instruments |
4.122.792,68 |
4,99 |
4.802.524,79 |
5,92 |
6.460.186,48 |
7,61 |
|
2. Credits to companies |
7.550.000,00 |
9,14 |
|
|
|
|
|
V. Long Term Financial Investments |
1.516.422,00 |
1,84 |
278.813,65 |
0,34 |
344.539,63 |
0,41 |
|
2. Credits to third parties |
1.328.438,37 |
1,61 |
90.150,00 |
0,11 |
155.875,98 |
0,18 |
|
5. Other financial assets |
187.983,63 |
0,23 |
188.663,65 |
0,23 |
188.663,65 |
0,22 |
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
56.225.839,83 |
68,07 |
62.141.877,03 |
76,65 |
64.765.874,92 |
76,30 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
25.908.282,96 |
31,37 |
24.707.955,81 |
30,48 |
22.998.345,43 |
27,09 |
|
2. Raw material inventory |
2.312.053,11 |
2,80 |
2.046.127,38 |
2,52 |
|
|
|
3. Work in Progress |
10.835.824,27 |
13,12 |
10.003.928,96 |
12,34 |
|
|
|
b) Short production cycle |
10.835.824,27 |
13,12 |
10.003.928,96 |
12,34 |
|
|
|
4. Finished goods |
12.741.140,11 |
15,43 |
12.634.085,78 |
15,58 |
|
|
|
b) Short production cycle |
12.741.140,11 |
15,43 |
12.634.085,78 |
15,58 |
|
|
|
5. Sub products and recycled materials |
19.265,47 |
0,02 |
|
|
|
|
|
6. Pre-payments to suppliers |
|
|
23.813,69 |
0,03 |
|
|
|
III. Trade Debtors and other receivable accounts |
27.489.382,02 |
33,28 |
27.214.643,22 |
33,57 |
26.088.928,06 |
30,73 |
|
1. Clients |
25.820.444,72 |
31,26 |
26.150.972,73 |
32,26 |
24.688.441,29 |
29,08 |
|
b) Clients for sales and short term services
rendering |
25.820.444,72 |
31,26 |
26.150.972,73 |
32,26 |
|
|
|
2. Clients group and associated companies |
1.106.131,23 |
1,34 |
814.815,57 |
1,01 |
512.019,12 |
0,60 |
|
3. Other debts |
153.252,54 |
0,19 |
124.284,81 |
0,15 |
86.701,17 |
0,10 |
|
4. Staff |
1.839,15 |
0,00 |
2.007,43 |
0,00 |
2.764,69 |
0,00 |
|
5. Assets by current taxes |
100.434,42 |
0,12 |
122.562,68 |
0,15 |
|
|
|
6. Other credits with the Public Administrations |
307.279,96 |
0,37 |
|
|
799.001,79 |
0,94 |
|
IV. Short term investments in associated and affiliated companies |
208.991,75 |
0,25 |
6.656.908,61 |
8,21 |
1.412.798,09 |
1,66 |
|
1. Net worth instruments |
|
|
|
|
-39.201,91 |
-0,05 |
|
2. Credits to companies |
208.991,75 |
0,25 |
6.656.908,61 |
8,21 |
1.452.000,00 |
1,71 |
|
V. Short term financial investments |
1.771.656,24 |
2,14 |
2.763.786,18 |
3,41 |
12.040.651,44 |
14,18 |
|
1. Net worth instruments |
539.994,61 |
0,65 |
520.204,29 |
0,64 |
12.040.651,44 |
14,18 |
|
2. Credits to companies |
231.661,63 |
0,28 |
|
|
|
|
|
3. Debt representative values |
1.000.000,00 |
1,21 |
2.243.581,89 |
2,77 |
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
847.526,86 |
1,03 |
798.583,21 |
0,99 |
2.225.151,90 |
2,62 |
|
1. Treasury |
847.526,86 |
1,03 |
798.583,21 |
0,99 |
2.225.151,90 |
2,62 |
|
TOTAL ASSETS (A + B) |
82.594.956,62 |
100,00 |
81.069.550,07 |
100,00 |
84.887.179,36 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process part of the item
“Property, plant and equipment” that under PGC2007 should be classified within
the item “Real-estate Investments” that in the subsequent exercise presents a
balance of %1.
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 124080 “Provisions” according to PGC90 is
associated to “Net Worth Instruments”.
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 item 144080 “Provisions” according to PGC90 is
associated to “Net Worth Instruments”.
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 |
61.296.397,22 |
74,21 |
63.963.054,46 |
78,90 |
66.900.911,10 |
78,81 |
|
A-1) Equity |
61.023.479,65 |
73,88 |
63.638.779,07 |
78,50 |
66.597.583,83 |
78,45 |
|
I. Capital |
6.484.800,41 |
7,85 |
6.611.133,15 |
8,15 |
6.611.133,15 |
7,79 |
|
1. Authorized capital |
6.484.800,41 |
7,85 |
6.611.133,15 |
8,15 |
6.611.133,15 |
7,79 |
|
II. Issue premium |
2.704.554,47 |
3,27 |
2.704.554,47 |
3,34 |
2.704.554,47 |
3,19 |
|
III. Reserves |
5.124.239,24 |
6,20 |
57.466.186,61 |
70,89 |
57.443.888,41 |
67,67 |
|
1. Legal and statutory |
1.296.960,08 |
1,57 |
1.322.226,63 |
1,63 |
1.322.226,63 |
1,56 |
|
2. Other funds |
3.827.279,16 |
4,63 |
56.143.959,98 |
69,25 |
56.121.661,78 |
66,11 |
|
IV. (Net worth own shares and participations) |
|
|
-884.290,40 |
-1,09 |
-884.290,40 |
-1,04 |
|
V. Results from previous years |
48.654.453,25 |
58,91 |
|
|
|
|
|
1. Carry over |
48.654.453,25 |
58,91 |
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-1.944.567,72 |
-2,35 |
-2.258.804,76 |
-2,79 |
722.298,20 |
0,85 |
|
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 |
272.917,57 |
0,33 |
324.275,39 |
0,40 |
303.327,27 |
0,36 |
|
B) NON CURRENT LIABILITIES |
2.970.390,45 |
3,60 |
3.278.291,69 |
4,04 |
2.812.313,53 |
3,31 |
|
I. Long term provisions |
106.765,81 |
0,13 |
850,80 |
0,00 |
2.455,71 |
0,00 |
|
2. Environmental actions |
106.765,81 |
0,13 |
850,80 |
0,00 |
|
|
|
4. Other provisions |
|
|
|
|
2.455,71 |
0,00 |
|
II. Long term debts |
2.746.659,95 |
3,33 |
3.138.500,38 |
3,87 |
2.679.860,42 |
3,16 |
|
2. Debts with bank entities |
2.746.659,95 |
3,33 |
3.138.500,38 |
3,87 |
2.679.860,42 |
3,16 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
116.964,69 |
0,14 |
138.940,51 |
0,17 |
129.997,40 |
0,15 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
18.328.168,95 |
22,19 |
13.828.203,92 |
17,06 |
15.173.954,73 |
17,88 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
3.932.995,29 |
4,76 |
2.272.317,75 |
2,80 |
645.253,20 |
0,76 |
|
2. Debts with bank entities |
3.700.569,95 |
4,48 |
2.033.897,23 |
2,51 |
645.253,20 |
0,76 |
|
5. Other financial liabilities |
232.425,34 |
0,28 |
238.420,52 |
0,29 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
14.395.173,66 |
17,43 |
11.555.886,17 |
14,25 |
14.528.701,53 |
17,12 |
|
1. Suppliers |
12.823.337,07 |
15,53 |
8.848.917,26 |
10,92 |
11.911.509,02 |
14,03 |
|
b) Short term suppliers |
12.823.337,07 |
15,53 |
8.848.917,26 |
10,92 |
|
|
|
2. Suppliers group and associated companies |
358.420,39 |
0,43 |
1.112.647,51 |
1,37 |
1.587.394,54 |
1,87 |
|
3. Different creditors |
385.833,13 |
0,47 |
638.557,11 |
0,79 |
|
|
|
4. Staff (pending remunerations) |
463.392,78 |
0,56 |
510.172,89 |
0,63 |
569.799,18 |
0,67 |
|
6. Other debts with Public Administrations |
364.190,29 |
0,44 |
440.491,40 |
0,54 |
446.398,79 |
0,53 |
|
7. Clients pre-payments |
|
|
5.100,00 |
0,01 |
13.600,00 |
0,02 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
82.594.956,62 |
100,00 |
81.069.550,07 |
100,00 |
84.887.179,36 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process there has been
made the assumption that the creditors balance with the group and associated
companies have a financial and not commercial character.
In the conversion process there has
been made the assumption that the creditors balance with the group and associated
companies have a commercial and not financial character.
In the conversion process it
has not been possible to breakdown the composition of liabilities originated by
debts with the public administrations; for this reason the mentioned amounts
are presented fully aggregated in the item “other debts with the public
administrations”
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
75.524.877,84 |
98,92 |
73.135.094,99 |
99,43 |
80.322.759,10 |
99,60 |
|
A) Sales |
75.522.722,44 |
98,92 |
73.135.094,99 |
99,43 |
80.322.759,10 |
99,60 |
|
b) Services provided |
2.155,40 |
0,00 |
|
|
|
|
|
2. Variation in stocks of finished goods and work in progress |
934.401,42 |
1,22 |
2.492.090,57 |
3,39 |
-530.492,51 |
-0,66 |
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-54.267.662,11 |
-71,08 |
-48.709.370,30 |
-66,22 |
-40.434.271,52 |
-50,14 |
|
a) Material consumed |
-45.551.053,13 |
-59,66 |
|
|
-40.225.788,26 |
-49,88 |
|
b) Raw materials consumed |
|
|
-40.431.815,58 |
-54,97 |
|
|
|
c) Works carried out for other companies |
-8.716.608,98 |
-11,42 |
-8.277.554,72 |
-11,25 |
-208.483,26 |
-0,26 |
|
5. Other operating income |
825.704,50 |
1,08 |
422.447,09 |
0,57 |
319.140,58 |
0,40 |
|
a) Other incomes |
230.111,58 |
0,30 |
253.630,05 |
0,34 |
75.734,76 |
0,09 |
|
b) Operating grants included in the exercise result |
595.592,92 |
0,78 |
168.817,04 |
0,23 |
243.405,82 |
0,30 |
|
6. Labour cost |
-10.080.624,15 |
-13,20 |
-11.040.533,50 |
-15,01 |
-10.491.179,19 |
-13,01 |
|
a) Wages and similar expenses |
-7.842.558,73 |
-10,27 |
-8.649.256,29 |
-11,76 |
|
|
|
b) Social costs |
-2.238.065,42 |
-2,93 |
-2.391.277,21 |
-3,25 |
|
|
|
7. Other operating costs |
-13.554.544,06 |
-17,75 |
-14.736.158,70 |
-20,03 |
-26.907.048,49 |
-33,37 |
|
a) External services |
-12.342.897,92 |
-16,17 |
-14.318.023,05 |
-19,47 |
-26.206.109,36 |
-32,50 |
|
b) Taxes |
-165.196,19 |
-0,22 |
-133.572,72 |
-0,18 |
-101.547,84 |
-0,13 |
|
c) Losses, deterioration and variation on business operations
provisions |
-676.527,23 |
-0,89 |
-282.877,95 |
-0,38 |
-586.545,98 |
-0,73 |
|
d) Other day to day expenses |
-369.922,72 |
-0,48 |
-1.684,98 |
0,00 |
-12.845,31 |
-0,02 |
|
8. Amortization of fixed assets |
-1.653.654,49 |
-2,17 |
-2.061.782,52 |
-2,80 |
-2.256.168,28 |
-2,80 |
|
9. Allocation of subventions on non financial investments and other |
156.588,41 |
0,21 |
143.177,16 |
0,19 |
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
-76.676,21 |
-0,10 |
|
|
-203.721,28 |
-0,25 |
|
a) Deteriorations and losses |
|
|
|
|
-20.679,90 |
-0,03 |
|
b) Results for disposals and others |
-76.676,21 |
-0,10 |
|
|
-183.041,38 |
-0,23 |
|
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) |
-2.191.588,85 |
-2,87 |
-355.035,21 |
-0,48 |
-180.981,59 |
-0,22 |
|
14. Financial income |
619.278,95 |
0,81 |
547.563,72 |
0,74 |
1.772.381,27 |
2,20 |
|
a) From net worth instruments participations |
36.948,90 |
0,05 |
18.593,94 |
0,03 |
|
|
|
a 1) On group and associated companies |
17.277,78 |
0,02 |
18.593,94 |
0,03 |
|
|
|
a 2) On third parties |
19.671,12 |
0,03 |
|
|
|
|
|
b) From negotiable values and other financial instruments |
582.330,05 |
0,76 |
528.969,78 |
0,72 |
665.161,96 |
0,82 |
|
b 1) From group and associated companies |
499.805,02 |
0,65 |
|
|
|
|
|
b 2) From third parties |
82.525,03 |
0,11 |
528.969,78 |
0,72 |
665.161,96 |
0,82 |
|
c) Allocation of financial legacies, grants and subventions |
|
|
|
|
1.107.219,31 |
1,37 |
|
15. Financial expenses |
-64.493,16 |
-0,08 |
-142.787,30 |
-0,19 |
-881.835,00 |
-1,09 |
|
b) For debts with third parties |
-64.493,16 |
-0,08 |
-142.787,30 |
-0,19 |
-881.835,00 |
-1,09 |
|
16. Reasonable value variation on financial instruments |
182.627,31 |
0,24 |
-257.618,07 |
-0,35 |
|
|
|
a) Negotiation portfolio and others |
182.627,31 |
0,24 |
-257.618,07 |
-0,35 |
|
|
|
17. Exchange differences |
-451.358,34 |
-0,59 |
-49.774,91 |
-0,07 |
-193.877,54 |
-0,24 |
|
18. Deterioration and result for disposal of financial instruments |
-39.033,63 |
-0,05 |
-2.001.152,99 |
-2,72 |
413.523,39 |
0,51 |
|
a) Deteriorations and losses |
-656.138,61 |
-0,86 |
-1.943.706,56 |
-2,64 |
-39.201,91 |
-0,05 |
|
b) Results for disposals and others |
617.104,98 |
0,81 |
-57.446,43 |
-0,08 |
452.725,30 |
0,56 |
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
247.021,13 |
0,32 |
-1.903.769,55 |
-2,59 |
1.110.192,12 |
1,38 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-1.944.567,72 |
-2,55 |
-2.258.804,76 |
-3,07 |
929.210,53 |
1,15 |
|
20. Taxes on profits |
|
|
|
|
-206.912,33 |
-0,26 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-1.944.567,72 |
-2,55 |
-2.258.804,76 |
-3,07 |
722.298,20 |
0,90 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-1.944.567,72 |
-2,55 |
-2.258.804,76 |
-3,07 |
722.298,20 |
0,90 |
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.
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.
Valuation norms applicable to Financial
instruments collected in PGC2007 present notable changes with respect to PGC90.
As a consequence, the conversion of the financial statements of the accounts to
PGC2007, carried out considering mainly classification changes in the accounts
might contain certain inaccuracies.
In the financial statements
conversion process of the accounts formulation exercise to PGC2007 it could not
be identified the amount of discounts on sales for prompt payment that under
PGC2007 are registered reducing sales and not as a financial expense.
NET WORTH CHANGES STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-1.944.567,72 |
-2.258.804,76 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
|
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
148.993,99 |
173.103,04 |
|
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 |
-44.698,20 |
-51.930,91 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
104.295,79 |
121.172,13 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
-156.588,41 |
-143.177,16 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
46.976,52 |
42.953,15 |
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
-109.611,89 |
-100.224,01 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-1.949.883,82 |
-2.237.856,64 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
(NET WORTH OWN SHARES AND PARTICIPATIONS) |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
|
|
|
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) |
6.611.133,15 |
2.704.554,47 |
6.182.196,90 |
-884.290,40 |
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
-300.000,00 |
|
|
4. (-) Dividends distribution |
|
|
-300.000,00 |
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
6.611.133,15 |
2.704.554,47 |
5.882.196,90 |
-884.290,40 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
6.611.133,15 |
2.704.554,47 |
5.882.196,90 |
-884.290,40 |
|
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) |
6.611.133,15 |
2.704.554,47 |
5.882.196,90 |
-884.290,40 |
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
-126.332,74 |
|
-757.957,66 |
884.290,40 |
|
4. (-) Dividends distribution |
|
|
|
|
|
5. Operations with own participations or shares (net) |
-126.332,74 |
|
-757.957,66 |
884.290,40 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
6.484.800,41 |
2.704.554,47 |
5.124.239,24 |
|
|
NET WORTH CHANGES ( 3 /3) |
RESULTS FROM PREVIOUS EXERCISES |
EXERCISE RESULT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
|
|
|
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) |
51.261.691,51 |
722.298,20 |
303.327,27 |
66.900.911,10 |
|
I. Total recognized income and expenses |
|
-2.258.804,76 |
20.948,12 |
-2.237.856,64 |
|
II. Operations with partners or owners |
|
-400.000,00 |
|
-700.000,00 |
|
4. (-) Dividends distribution |
|
-400.000,00 |
|
-700.000,00 |
|
III. Other net worth variations |
322.298,20 |
-322.298,20 |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
51.583.989,71 |
-2.258.804,76 |
324.275,39 |
63.963.054,46 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
51.583.989,71 |
-2.258.804,76 |
324.275,39 |
63.963.054,46 |
|
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) |
51.583.989,71 |
-2.258.804,76 |
324.275,39 |
63.963.054,46 |
|
I. Total recognized income and expenses |
|
-1.944.567,72 |
|
-1.944.567,72 |
|
II. Operations with partners or owners |
-670.731,70 |
|
|
-670.731,70 |
|
4. (-) Dividends distribution |
-670.731,70 |
|
|
-670.731,70 |
|
5. Operations with own participations or shares (net) |
|
|
|
|
|
III. Other net worth variations |
-2.258.804,76 |
2.258.804,76 |
-51.357,82 |
-51.357,82 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
48.654.453,25 |
-1.944.567,72 |
272.917,57 |
61.296.397,22 |
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 |
-1.944.567,72 |
-2.258.804,76 |
|
2. Results adjustments |
798.686,61 |
3.772.600,00 |
|
a) Amortization of fixed assets (+) |
1.653.654,49 |
2.061.782,52 |
|
b) Value correction for deterioration (+/-) |
656.138,61 |
1.943.706,56 |
|
d) Grants allocation (-) |
-156.588,41 |
-143.177,16 |
|
e) Results for decline and disposal of fixed assets (+/-) |
-617.104,98 |
57.446,43 |
|
g) Financial income (-) |
-619.278,95 |
-547.563,72 |
|
f) Financial expenses (+) |
64.493,16 |
142.787,30 |
|
j) Reasonable value variation on financial instruments (+/-) |
-182.627,31 |
257.618,07 |
|
3. Changes in current capital |
1.364.221,54 |
-5.634.340,92 |
|
a) Stocks (+/-) |
-1.200.327,15 |
-1.829.185,42 |
|
b) Debtors and other receivable accounts (+/-) |
-274.738,80 |
-1.125.715,18 |
|
d) Creditors and other payable accounts (+/-) |
2.839.287,49 |
-2.679.440,32 |
|
4. Other cash flow coming from operating activities |
237.608,08 |
122.725,34 |
|
a) Interests payments (-) |
|
-400.405,37 |
|
b) Dividends collections (+) |
36.948,90 |
31.312,71 |
|
c) Interests collections (+) |
200.659,18 |
516.251,01 |
|
d) Collections (payments) for profit tax (+/-) |
|
-24.433,01 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
455.948,51 |
-3.997.820,34 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-2.314.808,40 |
-2.878.510,87 |
|
a) Group and associated companies |
-1.150.000,00 |
-286.044,87 |
|
b) Intangible assets |
-11.365,81 |
-931,29 |
|
c) Tangible assets |
-976.787,48 |
-2.591.534,71 |
|
e) Other financial assets |
-176.655,11 |
|
|
7. Disinvestment collections (+) |
992.129,94 |
9.198.437,60 |
|
a) Group and associated companies |
|
-16.703,09 |
|
b) Intangible assets |
|
927,21 |
|
e) Other financial assets |
|
-23.449,87 |
|
h) Other assets |
992.129,94 |
9.237.663,35 |
|
8. Cash Flow in investment activities (6 + 7) |
-1.322.678,46 |
6.319.926,73 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
263.656,15 |
308.949,54 |
|
e) Received legacies, grants and subventions (+) |
263.656,15 |
308.949,54 |
|
10. Financial liabilities instruments collections and payments |
1.322.749,15 |
-3.357.624,62 |
|
a) Issue |
2.796.258,48 |
1.758.841,02 |
|
2. Debts with bank entities (+) |
2.748.341,62 |
6.963.749,63 |
|
3. Debts with group and associated companies (+) |
47.916,86 |
-5.204.908,61 |
|
b) Return and amortization of |
-1.473.509,33 |
-5.116.465,64 |
|
2. Debts with bank entities (-) |
-1.473.509,33 |
-5.116.465,64 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
-670.731,70 |
-700.000,00 |
|
a) Dividends (-) |
-670.731,70 |
-700.000,00 |
|
12. Cash Flow in financing activities (9 + 10 + 11) |
915.673,60 |
-3.748.675,08 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
48.943,65 |
-1.426.568,69 |
|
Cash or equivalents at the beginning of the exercise |
798.583,21 |
2.225.151,90 |
|
Cash or equivalents at the end of the exercise |
847.526,86 |
798.583,21 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
37.897.670,88 |
-21,56 |
48.313.673,11 |
-2,58 |
49.591.920,19 |
|
Working capital ratio |
0,46 |
-23,33 |
0,60 |
3,45 |
0,58 |
|
Soundness Ratio |
2,31 |
-31,25 |
3,36 |
1,51 |
3,31 |
|
Average Collection Period (days) |
131 |
-2,15 |
134 |
14,46 |
117 |
|
Average Payment Period (days) |
76 |
16,48 |
66 |
-15,74 |
78 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
306,77 |
-31,74 |
449,38 |
5,29 |
426,82 |
|
Quick Ratio (%) |
14,29 |
-44,53 |
25,76 |
-72,60 |
94,02 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
8,09 |
21,29 |
6,67 |
70,15 |
3,92 |
|
External Financing Average Cost |
0,01 |
-66,67 |
0,03 |
-88,89 |
0,26 |
|
Debt Service Coverage |
14,65 |
1.185,19 |
-1,35 |
-220,54 |
1,12 |
|
Interest Coverage |
-33,98 |
-1.264,66 |
-2,49 |
-1.145,00 |
-0,20 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
0,60 |
110,97 |
-5,47 |
-247,44 |
3,71 |
|
Auto financing generated by Assets (%) |
0,55 |
111,16 |
-4,93 |
-240,46 |
3,51 |
|
Breakdown Point |
0,97 |
-3,00 |
1,00 |
0,00 |
1,00 |
|
Average Sales Volume per Employee |
199.274,08 |
12,53 |
177.082,55 |
-6,08 |
188.551,08 |
|
Average Cost per Employee |
26.597,95 |
-0,50 |
26.732,53 |
8,55 |
24.627,18 |
|
Assets Turnover |
0,91 |
1,11 |
0,90 |
-5,26 |
0,95 |
|
Inventory Turnover (days) |
172 |
-5,92 |
183 |
-10,90 |
205 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-2,65 |
-502,27 |
-0,44 |
-109,52 |
-0,21 |
|
Operating Profitability (%) |
-0,74 |
-135,07 |
2,10 |
-4,52 |
2,20 |
|
Return on Equity (ROE) (%) |
-3,19 |
10,14 |
-3,55 |
-353,57 |
1,40 |
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 |
31,93 |
48,44 |
-16,51 |
|
A) CURRENT ASSETS |
68,07 |
51,56 |
16,51 |
|
LIABILITIES |
|||
|
A) NET WORTH |
74,21 |
55,11 |
19,10 |
|
B) NON CURRENT LIABILITIES |
3,60 |
14,66 |
-11,06 |
|
C) CURRENT LIABILITIES |
22,19 |
30,23 |
-8,04 |
|
|
|
|
|
Analytical Account of Results
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
98,92 |
98,18 |
0,74 |
|
Other operating income |
1,08 |
1,82 |
-0,74 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-71,08 |
-61,35 |
-9,73 |
|
Variation in stocks of finished goods and work in progress |
1,22 |
1,04 |
0,18 |
|
GROSS MARGIN |
30,15 |
39,69 |
-9,54 |
|
Other operating costs |
-17,75 |
-19,21 |
1,46 |
|
Labour cost |
-13,20 |
-15,42 |
2,22 |
|
GROSS OPERATING RESULT |
-0,81 |
5,06 |
-5,86 |
|
Amortization of fixed assets |
-2,17 |
-3,74 |
1,57 |
|
Deterioration and result for fixed assets disposal |
-0,10 |
0,01 |
-0,11 |
|
Other expenses / income |
0,21 |
|
|
|
NET OPERATING RESULT |
-2,87 |
1,33 |
-4,20 |
|
Financial result |
0,32 |
-0,43 |
0,75 |
|
RESULT BEFORE TAX |
-2,55 |
0,90 |
-3,45 |
|
Taxes on profits |
|
0,00 |
|
|
RESULT COMING FROM CONTINUED OPERATIONS |
-2,55 |
|
|
|
NET RESULT |
-2,55 |
0,90 |
-3,45 |
Main Ratios
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
37.897.670,88 |
852.955,00 |
4.049.419,20 |
7.246.952,82 |
|
Working capital ratio |
0,46 |
0,09 |
0,28 |
0,41 |
|
Soundness Ratio |
2,31 |
0,91 |
1,37 |
2,71 |
|
Average Collection Period (days) |
131 |
90 |
114 |
141 |
|
Average Payment Period (days) |
76 |
60 |
78 |
100 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
306,77 |
1,21 |
1,71 |
2,54 |
|
Quick Ratio (%) |
14,29 |
0,02 |
0,10 |
0,41 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
8,09 |
9,27 |
23,74 |
37,10 |
|
External Financing Average Cost |
0,01 |
0,04 |
0,07 |
0,13 |
|
Debt Service Coverage |
14,65 |
1,41 |
4,08 |
9,00 |
|
Interest Coverage |
-33,98 |
0,28 |
1,49 |
3,35 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
0,60 |
3,16 |
4,60 |
8,69 |
|
Auto financing generated by Assets (%) |
0,55 |
3,02 |
4,74 |
7,31 |
|
Breakdown Point |
0,97 |
1,02 |
1,03 |
1,05 |
|
Average Sales Volume per Employee |
199.274,08 |
134.633,98 |
170.860,66 |
257.268,30 |
|
Average Cost per Employee |
26.597,95 |
24.955,96 |
28.472,79 |
32.684,84 |
|
Assets Turnover |
0,91 |
0,72 |
0,99 |
1,28 |
|
Inventory Turnover (days) |
172 |
83 |
126 |
177 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-2,65 |
0,99 |
2,79 |
5,49 |
|
Operating Profitability (%) |
-0,74 |
3,51 |
6,60 |
9,64 |
|
Return on Equity (ROE) (%) |
-3,19 |
0,75 |
3,47 |
7,62 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
|
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
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.