MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

FEMAD S.R.O. 

 

 

Registered Office :

Studená 3, 946 55 Nesvady

 

 

Country :

Slovakia

 

 

Financials (as on) :

2008

 

 

Date of Incorporation :

07.08.1992

 

 

Com. Reg. No.:

No. 1332/N

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of other fabricated metal products

Manufacture of fabricated metal products, except machinery and equipment

 

 

No. of Employees :

50 – 99 employees  (estimated)

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Slovakia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D


COMPANY REPORTED

 

FEMAD S.R.O.

 

Principal Address:

Studená 3

946 55 Nesvady

Slovakia

Telephone:        +421-35-7692890, +421-35-7692133

Fax:                  +421-35-7693133

Email:               femad@femad.sk

Web:                www.femad.sk

 

Registered office:

Studená 3

946 55 Nesvady

Slovakia

 

ICON number:                          1214830

National ID:                              31420290

International VAT number:      SK2020397621

VAT number:                           SK2020397621

 

Registration status: 11.09.1992 - registered company

 

 

CREDIT INFORMATION SUMMARY

 

Insolvency Information:                           According to available information sources the company is not in a

insolvency/preliminary/debt regulation proceeding.

 

Payment Practices:                               No adverse payment incidents known at this time

 

Further Rating Information:                      Researched company is categorized as a medium sized company.

 

The company generated a turnover of EUR 5.184.392 in the year 2008.

 

Working capital of EUR 906.525 increased for 77,80% compared with the last period.

 

Cash flow from results of EUR 696.740 increased by 11,43% compared with last year result.

 

Debt Collection: There is no record of any debt collection action. against this company exceeding a single case volume of EUR 500.

 


COMPANY DETAILS

 

Established:      07.08.1992

 

Registration:      No. 1332/N

11.09.1992

Nitra, Slovakia

 

Legal Form:       11.09.1992

Limited Liability Company

 

History:             FEMAD s.r.o.

( 13.04.2010)

 

TSA Femad s.r.o.

( 26.04.2006 - 12.04.2010)

 

FE. MAD. spol. s r. o., FE. MAD. Ltd. /v anglickom jazyku/, FE. MAD. G.m.b.H. /v nemeckom jazyku/, FE. MAD. kft. /v maďarskom jazyku/

( 11.09.1992 - 25.04.2006)

 

Studená 3 ,Nesvady 946 51

( 19.11.2001)

 

Obchodná č. 1,Pribeta 946 55

( 17.05.1995 - 18.11.2001)

 

Komárňanská č. 15,Hurbanovo 947 01

( 11.09.1992 - 16.05.1995)

 

Capital:           

Nominal capital:                                             EUR 650.202,00 since 20.12.2011

                        Changed from:             SKK 100.000,00            since 11.09.1992

                                                            SKK 201.000,00            since 21.04.2006

                                                            EUR 6.672,00                since 29.01.2010

 

Shareholders:

Full Name

Function

Address

Equity capital

SALM Participations
Registration: France

Partner
26.04.2006 - Present

Rue Jules Py 8
88 210 Moussey
France

EUR 650.202,00

 

 

Management:

Full Name

Function

Address

VINAY Eric
26.04.2006 - Present

Managing director

Rue des Trois Villes 10
88 100 Saint Die des Vosges
France

 

 

 

Legal Representation:

Each of the managing directors represents the firm by him/herself

 


KEY DATA ON OPERATIONS

 

 

Subject of Operation:      NACE

 

Main Activity:

2599 Manufacture of other fabricated metal products n.e.c.

2500 Manufacture of fabricated metal products, except machinery and equipment

 

NACE codes given are based on the most recent NACE Revision 2.

 

The company is active in the Coface sector 'Metals'.

 

 

Comment to Import: This sector is currently experiencing a slight decrease.

Comment to Export: This sector is currently experiencing a slight decrease.

Comment to Wholesale: This sector is currently experiencing a slight decrease.

Comment to Retail trade: This sector is currently experiencing a slight decrease.

Comment to Production: This sector is currently experiencing a slight decrease.

Comment to Consultancy: This sector is currently experiencing a slight decrease.

Comment to Service: This sector is currently experiencing a slight decrease.

 

Company Development:  0: Development cannot be determined by outside parties

 

 

Key Data: 

Amounts shown in Euro (EUR)

 

2008

2007

2005

Turnover

5.184.392

4.760.207

1.072.130

Non-current assets

1.122.452

1.113.756

721.370

Equity

1.125.041

610.635

40.032

Sum of Liabilities

2.216.126

2.449.512

715.628

Profit for accounting period

513.510

520.016

26.157

Operating result - profit (before tax)

735.312

693.454

45.708

 

 

 

Workforce:

 

2008

Total workforce

50 - 99 (estimated)

 

 

 

Imports:

1999

Austria

Czech Republic

Germany

 

 

 

Exports:

1999

Austria

Germany

Hungary

 

 

 

 

 

FINANCIAL INFORMATION

      

 

 

Financials: 

Amounts shown in Euro (EUR) 

2008

2007

2005

 



BALANCE SHEET

 

ASSETS

 

TOTAL ASSETS

3.396.037,00

3.129.954,00

855.474,00

A. 

NON-CURRENT ASSETS

1.122.452,00

1.113.756,00

721.370,00

I. 

Intangible fixed assets

0,00

0,00

0,00

1. 

Incorporation expenses

0,00

0,00

0,00

2. 

Research and development costs

0,00

0,00

0,00

3. 

Software

0,00

0,00

0,00

4. 

Valuable rights

0,00

0,00

0,00

5. 

Goodwill

0,00

0,00

0,00

6. 

Other intangible fixed assets

0,00

0,00

0,00

7. 

Intangible fixed assets in acquisition

0,00

0,00

0,00

8. 

Advance payments for intangible fixed assets

0,00

0,00

0,00

II. 

Tangible fixed assets

1.122.452,00

1.113.756,00

721.370,00

1. 

Land

32.264,00

9.460,00

9.460,00

2. 

Structures

536.978,00

574.188,00

623.249,00

3. 

Separate movable assets and sets of moveables

537.775,00

207.396,00

88.661,00

4. 

Natural agricultural assets

0,00

0,00

0,00

5. 

Livestock and draught animals

0,00

0,00

0,00

6. 

Other tangible fixed assets

0,00

0,00

0,00

7. 

Tangible fixed assets in acquisition

15.435,00

307.376,00

0,00

8. 

Advance payments for tangible fixed assets

0,00

15.336,00

0,00

9. 

Correction item to acquired assets

0,00

0,00

0,00

III. 

Long-term financial investments

0,00

0,00

0,00

1. 

Shares and ownership interests in subsidiaries

0,00

0,00

0,00

2. 

Shares and ownership interests in associates

0,00

0,00

0,00

3. 

Other long-term securities and ownership interests

0,00

0,00

0,00

4. 

Loans to entities in consolidation field

0,00

0,00

0,00

5. 

Other long-term financial assets

0,00

0,00

0,00

6. 

Loans due in one year

0,00

0,00

0,00

7. 

Long-term financial assets in acquisition

0,00

0,00

0,00

8. 

Advance payments for long-term financial assets

0,00

0,00

0,00

B. 

CURRENT ASSETS

2.271.360,00

2.014.473,00

133.041,00

I. 

Inventory

912.600,00

1.146.850,00

75.616,00

1. 

Material

584.180,00

749.054,00

34.555,00

2. 

Work-in-progress and own semi-finished products

278.165,00

383.489,00

13.908,00

3. 

Construction contracts with anticipated expiry period exceeding one year

0,00

0,00

0,00

4. 

Finished products

7.767,00

10.157,00

7.236,00

5. 

Livestock

0,00

0,00

0,00

6. 

Merchandise

0,00

0,00

0,00

7. 

Advance payments for inventory

42.488,00

4.149,00

0,00

II. 

Long-term receivables

0,00

0,00

0,00

1. 

Trade receivables

0,00

0,00

0,00

2. 

Receivables from subsidiaries and controlling entity

0,00

0,00

0,00

3. 

Other receivables from entities in consolidation field

0,00

0,00

0,00

4. 

Receivables from partners, members and consortium

0,00

0,00

0,00

5. 

Other receivables

0,00

0,00

0,00

6. 

Deferred tax assets

0,00

0,00

0,00

III. 

Short-term receivables

1.345.350,00

811.193,00

55.699,00

1. 

Trade receivables

999.668,00

703.412,00

55.699,00

2. 

Receivables from subsidiaries and controlling entity

0,00

0,00

0,00

3. 

Other receivables from entities in consolidation field

199.993,00

0,00

0,00

4. 

Receivables from partners, members and consortium

0,00

0,00

0,00

5. 

Social security

0,00

0,00

0,00

6. 

Tax assets and grants

145.688,00

107.316,00

0,00

7. 

Other receivables

0,00

4.647,00

0,00

IV. 

Financial accounts

13.410,00

56.430,00

1.726,00

1. 

Cash in hand

4.880,00

17.493,00

0,00

2. 

Bank accounts

8.531,00

38.936,00

1.726,00

3. 

Bank accounts bound for period exceeding one year

0,00

0,00

0,00

4. 

Short-term financial assets

0,00

0,00

0,00

5. 

Short-term financial assets in acquisition

0,00

0,00

0,00

C. 

ACCRUED AND DEFERRED ITEMS

2.224,00

1.726,00

1.062,00

1. 

Prepaid expenses - short-term

2.224,00

1.726,00

1.062,00

2. 

Accrued income - shortterm

0,00

0,00

0,00

 



LIABILITIES

 

TOTAL LIABILITIES AND EQUITY

3.396.037,00

3.129.954,00

855.474,00

A. 

EQUITY

1.125.041,00

610.635,00

40.032,00

I. 

Registered capital

6.672,00

6.672,00

6.672,00

1. 

Registered capital (paid)

6.672,00

6.672,00

6.672,00

2. 

Treasury stocks and treasury shares

0,00

0,00

0,00

3. 

Changes in registered capital

0,00

0,00

0,00

II. 

Capital funds

0,00

0,00

0,00

1. 

Share premium

0,00

0,00

0,00

2. 

Other capital funds

0,00

0,00

0,00

3. 

Legal reserve fund (Non-distributable fund) from capital contributions

0,00

0,00

0,00

4. 

Asset and liability revaluation reserve

0,00

0,00

0,00

5. 

Financial investments revaluation reserve

0,00

0,00

0,00

6. 

Revaluation reserve from mergers and separations

0,00

0,00

0,00

III. 

Funds from profit

7.203,00

7.203,00

7.203,00

1. 

Legal reserve fund

664,00

664,00

664,00

2. 

Non-distributable fund

0,00

0,00

0,00

3. 

Statutory and other funds

6.539,00

6.539,00

6.539,00

IV. 

Profit/Loss from prior years

597.657,00

76.744,00

0,00

1. 

Non-distributed profit from prior years

597.657,00

76.744,00

0,00

2. 

Accumulated losses from prior years

0,00

0,00

0,00

V. 

Profit/Loss for current accounting period (after tax)

513.510,00

520.016,00

26.157,00

B. 

SUM OF LIABILITIES

2.216.126,00

2.449.512,00

715.628,00

I. 

Provisions

13.510,00

10.456,00

4.282,00

1. 

Legal provisions - long-term

0,00

0,00

0,00

2. 

Other long-term provisions

0,00

0,00

0,00

3. 

Other current provisions

13.510,00

10.456,00

4.282,00

II. 

Long-term liabilities

646.784,00

651.099,00

2.025,00

1. 

Long-term trade liabilities

0,00

0,00

0,00

2. 

Long-term liabilities unbilled

0,00

0,00

0,00

3. 

Long-term liabilities to subsidiaries and controlling entity

0,00

0,00

0,00

4. 

Other long-term liabilities to entities in consolidation field

0,00

0,00

0,00

5. 

Long-term advance payments received

0,00

0,00

0,00

6. 

Long-term bills of exchange to be paid

0,00

0,00

0,00

7. 

Bonds issued

0,00

0,00

0,00

8. 

Social fund payable

0,00

1.394,00

2.025,00

9. 

Other long-term payables

646.784,00

649.705,00

0,00

10. 

Deferred tax liability

0,00

0,00

0,00

III. 

Short-term liabilities

573.027,00

633.705,00

705.371,00

1. 

Trade payables

493.228,00

468.997,00

27.119,00

2. 

Liabilities unbilled

1.095,00

4.979,00

0,00

3. 

Liabilities to subsidiaries and controlling entity

0,00

0,00

0,00

4. 

Other liabilities to entities in consolidation field

0,00

0,00

0,00

5. 

Payable to partners and consortium

0,00

0,00

664.642,00

6. 

Employee liabilities

30.904,00

22.240,00

6.705,00

7. 

Social security payables

35.949,00

29.642,00

3.751,00

8. 

Tax liability and subsidies

11.850,00

107.847,00

3.153,00

9. 

Other payable

0,00

0,00

0,00

IV. 

Short-term financial assistance

0,00

0,00

0,00

V. 

Bank loans

982.806,00

1.154.252,00

3.950,00

1. 

Long-term bank loans

257.153,00

361.880,00

0,00

2. 

Short-term bank loans

725.652,00

792.372,00

3.950,00

C. 

ACCRUED AND DEFERRED ITEMS

54.870,00

69.807,00

99.814,00

1. 

Accrued expenses - short-term

0,00

0,00

166,00

2. 

Deferred income - short-term

54.870,00

69.807,00

99.648,00

 

BALANCE SHEET TOTAL

3.396.037,00

3.129.954,00

855.474,00

 



STATEMENT OF PROFIT AND LOSS

 

TURNOVER

5.184.392,00

4.760.207,00

1.072.130,00

 

Sales of goods bought for resale

0,00

0,00

0,00

A. 

Cost of goods sold

0,00

0,00

0,00

Gross margin

0,00

0,00

0,00

 

Production

5.076.678,00

4.931.156,00

1.113.191,00

 

Sales of own products and services

5.184.392,00

4.760.207,00

1.072.130,00

1. 

Changes in stock of finished products and work-in-progress

-107.714,00

170.949,00

41.061,00

2. 

Own work capitalized

0,00

0,00

0,00

B. 

Consumables and services purchased

3.611.764,00

3.711.578,00

861.249,00

1. 

Consumed material, energy and other non-inventory items

3.053.874,00

3.190.533,00

534.455,00

2. 

Services

557.890,00

521.045,00

326.794,00

Added value

1.464.914,00

1.219.578,00

251.942,00

C. 

Personnel expenses

567.815,00

469.428,00

134.070,00

1. 

Wages and salaries

403.074,00

338.512,00

92.412,00

2. 

Remuneration of board and co-operative members

0,00

0,00

0,00

3. 

Social insurance

137.456,00

113.258,00

31.733,00

4. 

Other social security expenses

27.285,00

17.659,00

9.925,00

D. 

Taxes and charges

5.344,00

5.543,00

4.382,00

E. 

Depreciation of intangible and tangible fixed assets

183.230,00

105.258,00

113.224,00

 

Sales of fixed assets and inventory

8.298,00

33,00

27.551,00

F. 

Net book value of fixed assets and inventory sold

531,00

0,00

0,00

 

Other operating income

44.380,00

60.645,00

23.966,00

G. 

Other operating expenses

25.360,00

6.572,00

1.792,00

 

Transfer of operating income

0,00

0,00

0,00

H. 

Transfer of operating expenses

0,00

0,00

0,00

Operating profit/loss (before tax)

735.312,00

693.454,00

45.708,00

 

Proceeds from sale of securities and ownership interests

0,00

0,00

0,00

I. 

Security and ownership interest disposals

0,00

0,00

0,00

 

Revenues from long-term financial investments

0,00

0,00

0,00

1. 

Revenues from securities and ownership interests in subsidiaries and associates

0,00

0,00

0,00

2. 

Revenues from other long-term securities and ownership interests

0,00

0,00

0,00

3. 

Revenues from other long-term financial investments

0,00

0,00

0,00

 

Revenues from short-term financial assets

0,00

0,00

0,00

J. 

Expenses related to short-term financial assets

0,00

0,00

0,00

 

Gains from revaluation of securities and financial derivative instrument transactions

0,00

0,00

0,00

K. 

Expenses related to revaluation of securities and financial derivative instrument transactions

0,00

0,00

0,00

 

Interest income

100,00

2.987,00

33,00

L. 

Interest expense

66.089,00

35.152,00

1.129,00

 

Foreign exchange gains

132.145,00

68.645,00

0,00

M. 

Foreign exchange losses

142.103,00

65.890,00

3.485,00

 

Other revenue from financing activities

0,00

0,00

0,00

N. 

Other costs of financing activities

18.854,00

21.377,00

8.099,00

 

Transfer of financial revenues

0,00

0,00

0,00

O. 

Transfer of financial costs

0,00

0,00

0,00

Profit/Loss from financing activities (before tax)

-94.802,00

-50.787,00

-12.680,00

P. 

Income taxes on ordinary activities

127.000,00

122.652,00

7.369,00

1. 

Income taxes on ordinary activities - current

127.000,00

122.652,00

7.369,00

2. 

Income taxes on ordinary activities - deferred

0,00

0,00

0,00

Profit/Loss from ordinary activities (after tax)

513.510,00

520.016,00

 

 

Extraordinary revenue

0,00

0,00

498,00

Q. 

Extraordinary expenses

0,00

0,00

0,00

R. 

Income taxes on extraordinary activities

0,00

0,00

0,00

1. 

Income taxes on extraordinary activities - current

0,00

0,00

0,00

2. 

Income taxes on extraordinary activities - deferred

0,00

0,00

0,00

Profit/Loss from extraordinary activities (after tax)

0,00

0,00

498,00

S. 

Profits of partnership transferred to partners

0,00

0,00

0,00

Profit/Loss for accounting period (after tax)

513.510,00

520.016,00

26.157,00


Effectively from January 1st 2009, the Slovakian currency SKK was changed
and replaced by new currency EUR. The conversion rate: 1 EUR = 30,1260 SKK.
The financial statements issued after 01.01.2009 have to be in EUR. In
order to compare the financial statements with previous years all financial
indicators were also converted by the new exchange rate.
The financial indicators are stated without decimal number. The differences
in total or sub-total rows may be caused by rounding of indicators.

 

 

Approximate Exchange Rates:

2010: 0,75 EUR = 1 USD
2009: 0,69 EUR = 1 USD
2008: 0,71 EUR = 1 USD
2007: 0,76 EUR = 1 USD

 

 

Financial data source:

2008: 
2007: 

 

Financial Comments:

The company is obliged by law to publish its financial statements.
Company’s balance-sheets 2009,2010,2011 haven’t been published and are not officially available.

 

 

Bankers:

Všeobecná úverová banka, a.s. - Account no. 21304-142/0200
Hurbanovo

 

 

 

Ratios 

 

2008

2007

2005

Current Ratio
Current assets / Current liabilities

1,75

1,41

0,19

Quick Ratio 
(Current assets-Inventory) / Current liabilities

1,05

0,61

0,08

Leverage (%)
Long-term liabilities / Equity*100

80,35

165,89

5,06

Debt Ratio (%)
Sum of Liabilities/Total Assets*100

65,26

78,26

83,65

Equity ratio, in %
Equity / Total liabilities * 100

33,13

19,51

4,68

Sales to Total Assets
Turnover/Total Assets

1,53

1,52

1,25

Collection period in days
Receivables / Turnover * 360

94,72

62,20

18,96

Liabilities Maturity date
Liabilies / Turnover * 360

85,88

98,52

240,83

Inventory rotation in days
Inventory / Turnover*360

64,25

87,94

25,74

Return on Sales (%) ROS
Profit/Loss for accounting period/Turnover*100

9,90

10,92

2,44

Return on Assets (%) ROA
Profit/Loss for accounting period/Total Assets*100

15,12

16,61

3,06

Return on Equity (%) ROE
Profit/Loss for accounting period/Equity*100

45,64

85,16

65,34

 

 


ADDITIONAL INFORMATION      

 

 

 

Contact With Company:

Disclosure of detailed information about company’s internal situation was refused.

 

 

Central Register of Right of Liens:

registered

 


FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.55.98

UK Pound

1

Rs.87.55

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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

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NB

New Business

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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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.