MIRA INFORM REPORT

 

 

Report Date :

27.02.2012

 

IDENTIFICATION DETAILS

 

Name :

black red white spolka akcyjna

 

 

Registered Office :

Krzeszowska 63   23-400 Bitgoraj

 

 

Country :

Poland

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

April 1999

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of other furniture

 

 

No. of Employees :

900 - 1000

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Poland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


Company name and address

 

NAME:

BLACK RED WHITE SPOtKA AKCYJNA

 

STREET:

KRZESZOWSKA 63     ZIP CODE: 23-400

TOWN:

BItGORAJ

 

 

 

TELEPHONE: 84/6850202

FAX:              84/6850101                                            WEBSITE: www.brw.com.pl

EMAIL: brw@brw.com.pl

 

 

OTHER INFORMATION       

 

REGON/Statistical No.

950411093

V.A.T.:

918-17-45-428

 

FOUNDED:

1999/04/

 

 

Legal form

JOINT STOCK COMPANY

 

NACE codes:

36.14

Manufacture of other furniture

 

51.79.99

Export - Central and Eastern Europe

 

51.79.98

Import - Germany

 

51.79.98

Import - United Kingdom

 

51.79.98

Import - Austria

 

51.79.98

Import - Italy

 

51.79.99

Export - Ukraine

 

51.79.99

Export - Lithuania

 

51.79.99

Export - Russia

 

51.79.99

Export - Latvia

HSCN codes:

94014000

Seats, convertible into beds (excl. garden seats and camping equipment, and

 

94016100

Upholstered seats, with wooden frames (excl. convertible into beds)

 

940169--

Seats, with wooden frames (excl. upholstered)

 

94035000

Wooden furniture for bedrooms (excl. seats)

 

EMPLOYMENT (for last available 3 years)    

 

FROM DATE

TO DATE

TOTAL (MIN-MAX)

PRODUCTIVE (MIN-

UNPRODUCTIVE (MIN-

 

 

 

 

 

 

MAX)

MAX)

2011/01/01

2011/12/31

900 - 1000

-

-

2010/01/01

2010/12/31

1200 - 1300

-

-

2007/01/01

2007/12/31

887 - 887

-

-

 

 

 

 

 

net profit / loss

For last available 3 years

 

NET PROFIT/LOSS (for last available 3 years)

 

YEAR 1

YEAR 2

YEAR 3

DATE:

31/12/2010

31/12/2009

31/12/2008

Net profit (loss) forthe year:

103.727.562,85

138.145.189,86

185.371.391,03

 

 

NAME AND ADDRESS DATA    

 

NAME:

BLACK RED WHITE SPOtKA AKCYJNA

SHORT NAME:

BLACK RED WHITE S.A, BItGORAJ

STREET:

KRZESZOWSKA 63

ZIP CODE:

23-400

TOWN:

BItGORAJ

TELEPHONE:

84/6850202

FAX:

84/6850101

WEBSITE:

www.brw.com.pl

EMAIL:

brw@brw.com.pl

 

 

BASIC DATA     

 

REGON/Statistical No.

950411093

V.A.T.:

918-17-45-428

Nationwide Court Register

KRS 0000089493

Legal form

JOINT STOCK COMPANY

Status

ACTIVE

Start of Activity

1999/04/

Registering agency

COURT OF COMMERCE

Register type

NATIONAL COURT REGISTER

Date of registration

21/02/2002

NACE codes:       36.14           Manufacture of other furniture

51.79.99      Export - Central and Eastern Europe

51.79.98      Import-Germany

 51.79.98      Import - United Kingdom

51.79.98      Import - Italy

51.79.98       Import-Austria

51.79.99      Export - Russia
51.79.99      Export - Lithuania
51.79.99      Export - Ukraine
51.79.99      Export - Latvia

HSCN codes:       94014000     Seats, convertible into beds (excl. garden seats and camping equipment, and             94016100     Upholstered seats, with wooden frames (excl. convertible into beds)

940169—      Seats, with wooden frames (excl. upholstered)

94035000     Wooden furniture for bedrooms (excl. seats)

 

Organizational and legal data

 

REGISTER

 

CAPITAL:

 

VALUE:

177.359.520,00 PLN

 

 

SHAREHOLDERS

 

NAME:

STANIStAW

SURNAME:

BOSAK

PESEL:

64050601178

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

OTHER

DIRECTORSHIPS:

PRESIDENT OF THE BOARD: BRW SPOtKA Z O.O.

 

SHAREHOLDER: TRANS BOS SP. Z O.O.

 

VICE-PRESIDENT OF THE BOARD: TRANS BOS SP. Z O.O.

 

PRESIDENT OF THE BOARD: CONVEX GLASS SP. Z O.O.

- 2011/01/27

PRESIDENT OF THE BOARD: BLACK RED WHITE SPOtKA AKCYJNA

 

NAME:

MARZENA

SECOND NAME:

JOLANTA

SURNAME:

CHMIEL

PESEL:

65010908360

CITIZENSHIP:

Poland

COUNTRY:

Poland

OTHER

 

DIRECTORSHIPS:

 

- 2008/04/10

MEMBER,SUPERVISORY BOARD: BLACK RED WHITE SPOtKA AKCYJNA

 

NAME:

TADEUSZ

SURNAME:

CHMIEL

PESEL:

56112111055

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

 

SUPERVISORY

 

BOARD

 

 

 

NAME:

BOGUStAW

SECOND NAME:

MAREK

SURNAME:

GALEWSKI

PESEL:

61100803393

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

TYPE:

CHAIRMAN,SUPERVISORY BOARD

NAME:

WOJCIECH

SECOND NAME:

JAN

SURNAME:

WOLSKI

PESEL:

57041409196

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

TYPE:

MEMBER,SUPERVISORY BOARD

NAME:

TADEUSZ

SURNAME:

CHMIEL

PESEL:

56112111055

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

NAME:

STANIStAW

SURNAME:

KILIAN

PESEL:

58092105956

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

NAME:

KRZYSZTOF

SURNAME:

ROJEK

PESEL:

74052104296

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

NAME:

ARKADIUSZ

 

SECOND NAME:

MIKOtAJ

 

SURNAME:

JAROCKI

 

PESEL:

72092704373

 

CITIZENSHIP:

Poland

 

COUNTRY:

Poland

 

 

 

NAME:

ADAM

 

SECOND NAME:

BENEDYKT

 

SURNAME:

MROZ

 

PESEL:

61011502213

 

CITIZENSHIP:

Poland

 

COUNTRY:

Poland

 

 

 

 

MANAGERS  

 

TYPE:

VICE-PRESIDENT OF THE BOARD

REPRESENTATION:

SOLE SIGNATURE

NAME:

HALINA

SURNAME:

POKAROWSKA

PESEL:

55011515188

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

TYPE:

VICE-PRESIDENT OF THE BOARD

REPRESENTATION:

SOLE SIGNATURE

NAME:

MAREK

SURNAME:

POKAROWSKI

PESEL:

66042715593

CITIZENSHIP:

Poland

COUNTRY:

Poland

OTHER

DIRECTORSHIPS:

MEMBER OF THE BOARD: BRW SPOtKA Z O.O.

 

VICE-PRESIDENT OF THE BOARD: BLEK MEBLE SP. Z O.O.

 

VICE-PRESIDENT OF THE BOARD: MEBLE BLACK RED WHITE SP. Z O.O.

 

PRESIDENT OF THE BOARD: TRAX BRW SP. Z O.O.

 

TYPE:

VICE-PRESIDENT OF THE BOARD

REPRESENTATION:

SOLE SIGNATURE

NAME:

ROMAN

SECOND NAME:

ZDZIStAW

SURNAME:

LORENS

PESEL:

69102311133

CITIZENSHIP:

Poland

COUNTRY:

Poland

OTHER

DIRECTORSHIPS:

SUPERVISORY BOARD: COMP SOFT SP. Z O.O.

 

TYPE:

PRESIDENT OF THE BOARD

REPRESENTATION:

SOLE SIGNATURE

NAME:

TOMASZ

SURNAME:

OSTROWICKI

PESEL:

77022416191

CITIZENSHIP:

Poland

COUNTRY:

Poland

OTHER

DIRECTORSHIPS:

PRESIDENT OF THE BOARD: THK EUROPE SP. Z O.O.

 

PRESIDENT OF THE BOARD: BLEK MEBLE SP. Z O.O.

 

PRESIDENT OF THE BOARD: MEBLE BLACK RED WHITE SP. Z O.O.

 

PRESIDENT OF THE BOARD: BRW SPOtKA Z O.O.

 

 

Shares to other companies

 

COMPANY NAME:

BRW SPOtKA Z O.O.

V.A.T.:

817-13-47-938

STREET:

WOJSKA POtSKIEGO 3

ZIP CODE:

39-300

TOWN:

MIEtEC

TELEPHONE::

17/7880650

FAX:

17/7880625

WEBSITE:

www.brw.com.pl

EMAIL:

brw@brw.com.pl

VALUE:

39.800.000,00 PLN

NUMBER OF SHARES:

398000

 

COMPANY NAME:

CONVEX GtASS SP. Z O.O.

STREET:

CHMIEtEK 204B

ZIP CODE:

23-412

TOWN:

tUKOWA

TELEPHONE::

84/6850507

FAX:

84/6850540

VALUE:

8.250,00 PLN

NUMBER OF SHARES:

11

 

COMPANY NAME:

KOMPtET PLUS SP. Z O.O.

STREET:

KRAKOWSKA 83

ZIP CODE:

34-120

TOWN:

ANDRYCHOW

TELEPHONE::

33/8720465

FAX:

33/8702663

WEBSITE:

www.komplet.biz.pl

VALUE:

2.050.000,00 PLN

NUMBER OF SHARES:

20500

 

COMPANY NAME:

ATLAS MEBLE KUCHENNE SP. Z O.O.

STREET:

POtWIEJSKA 31

ZIP CODE:

64-300

TOWN:

NOWY TOMYSL

TELEPHONE::

61/4426500

FAX:

61/4425171

WEBSITE:

www.atlas-kuchnie.com. pi

VALUE:

16.500.000,00 PLN

NUMBER OF SHARES:

33000

 

COMPANY NAME:

BLEK MEBLE SP. Z O.O.

STREET:

WOJSKA POLSKIEGO 3

ZIP CODE:

39-300

TOWN:

MIELEC

TELEPHONE::

017/7738301

FAX:

017/7738302

VALUE:

9.600.000,00 PLN

NUMBER OF SHARES:

19200

 

 

COMPANY NAME:

MEBLE BLACK RED WHITE SP. Z O.O.

STREET:

KRZESZOWSKA 63

ZIP CODE:

23-400

TOWN:

BItGORAJ

TELEPHONE::

084/6850102

FAX:

084/6850295

VALUE:

28.509.000,00 PLN

NUMBER OF SHARES:

28509

 

COMPANY NAME:

THK EUROPE SP. Z O.O.

STREET:

AL. JEROZOLIMSKIE 184

ZIP CODE:

02-486

TOWN:

WARSZAWA

TELEPHONE::

022/5701840

FAX:

022/5701860

VALUE:

1.351.000,00 PLN

NUMBER OF SHARES:

13510

 

COMPANY NAME:

TRAX BRW SP. Z O.O.

STREET:

ARMII KRAJOWEJ 2

ZIP CODE:

37-200

TOWN:

PRZEWORSK

TELEPHONE::

016/6493730

FAX:

016/6488589

VALUE:

23.750.000,00 PLN

NUMBER OF SHARES:

47500

 

COMPANY NAME:

BRW SOFA SPOtKA Z O.O.

STREET:

DWORCOWA 3

ZIP CODE:

10-413

TOWN:

OtSZTYN

VALUE:

50.000.000,00 PLN

NUMBER OF SHARES:

100000

 

COMPANY NAME:

COMP SOFT SP. Z O.O.

STREET:

WOJSKA POLSKIEGO 3

ZIP CODE:

39-300

TOWN:

MIELEC

TELEPHONE::

017/7881810

FAX:

017/7881811

WEBSITE:

www.compsoft.com.pl

VALUE:

403.000,00 PLN

NUMBER OF SHARES:

4030

 

Employment

 

TOTAL (MIN-MAX)

PRODUCTIVE (MIN-

UNPRODUCTIVE (MIN-

FROM DATE

TO DATE

 

MAX)

MAX)

 

 

900 - 1000

-

-

2011/01/01

2011/12/31

1200 - 1300

-

-

2010/01/01

2010/12/31

887 - 887

-

-

2007/01/01

2007/12/31

810 - 810

-

-

2006/01/01

2006/12/31

716 - 716

-

-

2003/01/01

2003/12/31

560 - 560

-

-

2002/01/01

2002/12/31

449 - 449

-

-

2001/01/01

2001/12/31

413 - 413

-

-

2000/01/01

2000/12/31

 

 

Real estate

 

Owned

 

KIND OF REAL

AREA FROM

AREA TO

VALUE:

CURRENCY

MORTGAGEE

ESTATE

 

 

 

 

REGISTER NUMBER

GROUNDS

 

 

10.788.017,82

PLN

 

BUILDINGS AND CONSTRUCTIONS

 

 

611.710.380,00

PLN

 

 

 

Sales

 

FROM DATE

TO DATE

TURNOVER

NET SALES

EXPORT

IMPORT

2010/01/01

2010/12/31

1.230.928.813,20

1.145.116.381,50

 

 

2009/01/01

2009/12/31

1.443.327.236,72

1.336.802.857,14

 

 

2008/01/01

2008/12/31

1.587.881.115,23

1.484.584.589,96

 

 

2007/01/01

2007/12/31

1.463.255.341,39

1.460.440.552,59

 

 

2006/01/01

2006/12/31

1.233.671.510,35

1.232.677.065,33

 

 

2005/01/01

2005/12/31

1.304.182.952,96

1.263.228.432,06

 

 

2004/01/01

2004/12/31

1.237.681.587,74

1.235.711.063,92

 

 

2003/01/01

2003/12/31

977.105.801,29

974.881.153,73

 

 

2002/01/01

2002/12/31

889.327.237,96

888.827.604,66

 

 

2001/01/01

2001/12/31

822.525.500,00

816.506.000,00

 

 

2000/01/01

2000/12/31

768.768.270,00

762.362.000,00

 

 

1999/04/23

1999/12/31

422.645.561,49

 

 

 

 

 


FINANCIAL STATEMENT

 

 

 

YEAR 1

YEAR 2

YEAR 3

DATE:

31/12/2010

31/12/2009

31/12/2008

ASSETS

 

 

 

A. Total non-current assets

1.421.144.829,55

1.403.892.165,17

1.235.952.419,18

[.Intangible assets:

34.706.894,20

38.011.734,86

39.776.530,59

l.Costs of development activities:

0,00

0,00

0,00

2.Goodwill:

1.491.834,84

1.606.591,32

1.721.347,80

3.0ther intangible fixed assets:

33.215.059,36

36.405.143,54

38.055.182,79

4.Prepayments for intangible assets:

0,00

0,00

0,00

II.Fixed assets:

930.931.193,26

946.920.174,41

836.219.694,72

l.tangible fixed assets:

916.632.724,98

927.348.315,63

648.117.427,27

a)land:

107.388.017,82

109.150.428,42

106.085.869,00

b)buildings:

611.710.380,28

602.374.329,13

356.201.511,66

c)machinery and equipment:

153.407.051,56

167.236.557,14

134.689.663,91

d)vehicles:

35.563.235,46

39.081.279,71

40.953.194,59

e)other tangible fixed assets:

8.564.039,86

9.505.721,23

10.187.188,11

2.1nvestments in progress:

14.258.640,28

11.837.563,08

183.091.650,79

3.1nvestments in progress paid on accounts:

39.828,00

7.734.295,70

5.010.616,66

III.Lonq-term receivables:

0,00

0,00

0,00

[.From related companies:

0,00

0,00

0,00

2.From other companies:

0,00

0,00

0,00

[V.Lonq-term investments:

451.879.754,09

416.322.715,90

353.449.108,87

[.Real-estate property:

0,00

0,00

0,00

2.1ntangible assets:

0,00

0,00

0,00

3.Long-term financial assets:

416.070.292,97

388.885.496,41

339.997.347,75

a) in related companies:

416.070.292,97

388.885.496,41

339.316.967,71

- shares:

416.070.292,97

388.885.496,41

312.660.767,70

- other commercial papers:

0,00

0,00

0,00

- provided loans:

0,00

0,00

26.656.200,01

- other long-term financial assets:

0,00

0,00

0,00

b) in other companies:

0,00

0,00

680.380,04

- shares:

0,00

0,00

0,00

- other commercial papers:

0,00

0,00

0,00

- provided loans:

0,00

0,00

0,00

- other long-term financial assets:

0,00

0,00

680.380,04

4.0ther long-term investments:

35.809.461,12

27.437.219,49

13.451.761,12

V.Long-term interperiod settlements:

3.626.988,00

2.637.540,00

6.507.085,00

l.Assets from deffered income tax:

3.626.988,00

2.637.540,00

6.507.085,00

2.0thers:

0,00

0,00

0,00

B. Current assets:

494.319.200,56

545.007.268,26

538.425.374,80

[. Inventory

212.101.177,38

223.795.464,03

249.964.277,88

1.Materials:

41.267.301,51

49.279.252,32

53.632.119,87

2.Semi-products and work in progress:

12.126.169,35

1.967.164,75

1.568.940,06

 

3.Finished goods:

85.141.888,31

84.344.203,26

105.283.816,30

4.Products:

73.294.697,48

85.931.448,72

87.666.028,62

5.Advance payment for delivery:

271.120,73

2.273.394,98

1.813.373,02

II.Accounts receivable:

238.042.742,91

266.908.309,50

276.052.800,66

l.From related companies:

125.886.282,97

130.275.635,00

115.567.654,20

a)trade receivables:

125.886.282,97

130.275.635,00

115.567.654,20

- within 12 months:

125.886.282,97

130.275.635,00

115.567.654,20

- more than 12 months:

0,00

0,00

0,00

b)others:

0,00

0,00

0,00

2.From other companies:

112.156.459,94

136.632.674,50

160.485.146,46

a)trade receivables:

107.801.762,04

127.701.353,03

142.871.450,57

- within 12 months:

107.801.762,04

127.701.353,03

142.871.450,57

- more than 12 months:

0,00

0,00

0,00

b)tax and social receivables:

4.155.061,63

8.500.708,38

17.457.718,35

c)other receivables:

199.636,27

430.613,09

155.977,54

d)accounts receiv. result, from disputable claims:

0,00

0,00

0,00

[Il.Short-term investments:

43.555.944,52

52.547.187,55

10.763.174,38

l.Short-term financial assets:

43.555.944,52

52.547.187,55

10.763.174,38

a) in related companies:

37.980.993,59

46.286.335,85

404.455,64

- shares:

0,00

0,00

0,00

- other commercial papers:

0,00

12.387.728,73

0,00

- provided loans:

37.980.993,59

33.898.607,12

404.455,64

- other short-term financial assets:

0,00

0,00

0,00

b) in other companies:

0,00

503.695,14

615.812,75

- shares:

0,00

0,00

0,00

- other commercial papers:

0,00

0,00

0,00

- provided loans:

0,00

0,00

0,00

- other short-term financial assets:

0,00

503.695,14

615.812,75

c)cash and other cash assets:

5.574.950,93

5.757.156,56

9.742.905,99

- cash in hand and at bank:

5.574.950,93

5.752.156,56

9.742.905,99

- other cash means:

0,00

5.000,00

0,00

- other cash assets:

0,00

0,00

0,00

2.0ther short-term investments:

0,00

0,00

0,00

IV.Short-term interperiod settlements:

619.335,75

1.756.307,18

1.645.121,88

Total assets (A+B):

1.915.464.030,11

1.948.899.433,43

1.774.377.793,98

LIABILITIES

1

A. Net worth:

1.219.487.105,55

1.115.759.542,70

977.614.352,84

[.Issued capital:

177.359.520,00

177.359.520,00

177.359.520,00

[[.Outstanding but unpaid contribution

0,00

0,00

0,00

[II.Entity's own capital (negative):

0,00

0,00

0,00

[V.Reserve capital:

61.270.400,00

61.270.400,00

61.270.400,0C

V.Revaluation reserve:

0,00

0,00

0,00

vl.Other reserve capitals:

877.129.622,70

738.984.432,84

556.560.377,56

vll.Profit/loss brutto forward:

0,00

0,00

-2.947.335,75

VIII.Net financial result for the year:

103.727.562,85

138.145.189,86

185.371.391,03

[X.Write-offs from net profit:

0,00

0,00

0,00

B.Liabilities & reserves:

695.976.924,56

833.139.890,73

796.763.441,14

[.Reserve for liabilities:

45.377.824,61

43.002.428,99

41.278.912,0C

l.Reserves for deffered income tax:

45.175.489,00

42.791.843,00

41.278.912,0C

2.Reserves for retirement and similar:

202.335,61

210.585,99

0,0C

- long-term:

202.335,61

210.585,99

0,00

- short-term:

0,00

0,00

0,00

3.0ther reserves:

0,00

0,00

0,00

- long-term:

0,00

0,00

0,00

- short-term:

0,00

0,00

0,00

[I.Long-term liabilities:

167.371.861,30

149.347.948,69

270.163.905,03

l.To related companies:

0,00

0,00

0,00

2.To other companies:

167.371.861,30

149.347.948,69

270.163.905,03

a)credits and loans:

160.300.000,00

70.000.000,00

70.000.000,0C

b)commercial papers:

0,00

68.995.624,50

199.781.261,86

c)other financial liabilities:

5.550.713,99

8.647.324,19

382.643,17

d)other long-term liabilities:

1.521.147,31

1.705.000,00

0,00

[Il.Short-term liabilities:

482.028.400,40

639.570.673,99

484.828.573,11

l.To related companies:

137.350.899,47

174.320.640,35

190.165.013,39

a)trade payable:

124.677.939,47

145.902.268,07

180.931.276,39

- within 12 months:

124.677.939,47

145.902.268,07

180.931.276,39

- more than 12 months:

0,00

0,00

0,00

b)other:

12.672.960,00

28.418.372,28

9.233.737,00

2.To other companies:

344.649.058,24

465.248.331,09

294.557.018,26

a)bank loans:

118.440.245,73

211.842.403,11

158.013.753,13

b)commercial papers:

162.855.126,70

165.225.105,08

25.463.240,0C

c)other financial liabilities:

3.144.235,65

2.967.375,90

382.091,71

d)trade payables:

48.890.410,79

62.512.919,97

58.530.049,68

- within 12 months:

48.890.410,79

62.512.919,97

58.530.049,68

- more than 12 months:

0,00

0,00

0,00

e)supplies paid on account:

212.816,04

231.683,08

698.346,40

f)notes payable:

0,00

0,00

0,00

 

g)tax & social securities:

2.829.264,82

3.467.902,63

1.711.144,29

h)payroll payable:

2.127.198,33

2.158.737,44

0,00

i)other short-term liabilities:

6.149.760,18

16.842.203,88

49.758.393,05

3. Special funds:

28.442,69

1.702,55

106.541,46

IV. Accrued liabilities:

1.198.838,25

1.218.839,06

492.051,00

1. Negative goodwill

0,00

0,00

0,00

2. Other

1.198.838,25

1.218.839,06

492.051,00

- long-term:

0,00

0,00

0,00

- short-term:

1.198.838,25

1.218.839,06

492.051,00

Total liabilities (A+B):

1.915.464.030,11

1.948.899.433,43

1.774.377.793,98

 

Profit and Loss account (comp)

 

 

 

YEAR 1

YEAR 2

YEAR 3

FROM DATE:

01/01/2010

01/01/2009

01/01/2008

TO DATE:

31/12/2010

31/12/2009

31/12/2008

A. Net sales of goods and products:

1.145.116.381,50

1.336.802.857,14

1.484.584.589,96

- including to related companies

345.702.249,36

350.498.658,64

327.152.272,37

I. Net sales of products

624.474.248,11

774.655.106,04

1.079.689.191,77

II. Change of products

10.454.856,40

-21.430.105,30

-24.978.321,82

IH.Costs of production

1.888.818,62

1.177.873,12

257.878,31

IV.Net sale of qoods and materials

508.298.458,37

582.399.983,28

429.615.841,70

B. Operation expenses:

1.079.085.776,77

1.250.673.457,12

1.333.413.679,29

[. Depreciation:

49.125.950,42

40.639.630,55

34.556.697,21

[I. Costs of materials and energy

332.610.204,71

424.611.295,48

616.940.990,17

III. Outside services

209.348.273,34

233.292.013,22

250.589.754,08

[V.Taxes :

15.587.740,09

12.695.721,14

11.317.518,63

- including excise taxes:

256.548,00

0,00

0,00

V. Salaries

34.300.127,75

35.276.451,24

37.040.301,72

VI. Social taxes & related

6.198.642,03

6.611.148,70

7.246.455,95

VII. Other

3.018.621,11

3.317.021,62

2.889.629,57

VIII. Goods and materials sold

428.896.217,32

494.230.175,17

372.832.331,96

C. Profit (loss) on sale (A-B)

66.030.604,73

86.129.400,02

151.170.910,67

D. Other operation incomes

2.036.447,89

1.319.959,82

2.534.135,77

[. Profit from sale of tangible assets

0,00

0,00

309.585,28

[I. Grants & subsidies

0,00

0,00

0,00

III. Other

2.036.447,89

1.319.959,82

2.224.550,49

E. Other operating costs

7.840.908,18

6.602.752,79

17.506.670,24

[. Loss from sale of tangible assets

180.165,38

1.094.389,14

0,00

[I. Revaluation of non-financial assets

1.298.263,41

1.811.926,09

15.683.514,84

III. Other operating costs

6.362.479,39

3.696.437,56

1.823.155,40

F. Profit (loss) from operating activity (C+D-E)

60.226.144,44

80.846.607,05

136.198.376,20

G. Financial income

83.775.983,81

105.204.419,76

100.762.389,50

[. Dividends

79.576.208,93

99.500.000,00

81.000.000,0C

- from subsidiaries and affiliates

79.576.208,93

99.500.000,00

81.000.000,0C

[I. Interest receivable

3.116.492,17

2.549.993,47

2.183.286,48

- from subsidiaries and affiliates

2.813.669,02

2.474.934,04

1.153.029,00

III. Profits from investment transferred

0,00

0,00

5.000,00

IV. Revaluation of investments

0,00

0,00

0,00

V. Other

1.083.282,71

3.154.426,29

17.574.103,02

H. Financial costs

33.770.755,71

38.410.048,91

27.421.694,24

[. Interest payable including:

33.192.365,97

29.355.968,98

27.421.694,24

- including to related companies

730.704,88

0,00

0,00

[I. Loss from investments transferred

0,00

9.054.079,93

0,00

III. Revaluation of investments

0,00

0,00

0,00

IV. Other

578.389,74

0,00

0,00

I. Profit (loss) from economic activity (F+G-H)

110.231.372,54

147.640.977,90

209.539.071,46

]. Extraordinary items (J.I - J.II)

0,00

0,00

0,00

[. Extraordinary incomes

0,00

0,00

0,00

[I.Extraordinary losses

0,00

0,00

0,00

K. Brutto profit (loss) for the year (I+/-J):

110.231.372,54

147.640.977,90

209.539.071,46

L. Corporate income tax

6.503.809,69

9.495.788,04

24.167.680,42

M. Other obligatory charges

0,00

0,00

0,00

N. Net profit (loss) for the year (K-L-M):

103.727.562,85

138.145.189,86

185.371.391,03

 

 

CASH FLOW

 

 

 

YEAR 1

YEAR 2

YEAR 3

FROM DATE:

01/01/2010

01/01/2009

01/01/2008

TO DATE:

31/12/2010

31/12/2009

31/12/2008

A. Operating cash flow

107.737.809,87

213.603.307,60

208.426.675,06

[.Net profit

103.727.562,85

138.145.189,86

185.371.391,03

[I. Adjustments

4.010.247,02

75.458.117,74

23.055.284,03

1. Depreciation

-531.946,71

40.639.630,55

34.556.697,21

2. Loss an exchange rates difference

48.692.228,98

-508.068,47

-4.814.442,22

 

 

3. Interests/dividends receivable/payable

-180.165,38

-73.218.175,66

-53.620.236,34

4. Loss on investment activities

-2.375.395,62

1.094.389,14

-1.065.001,01

5. Change of reserves

-11.694.286,65

2.413.770,06

9.379.391,00

6. Change in inventories

28.865.966,14

26.168.813,85

3.687.052,98

7. Chanqe in accaunts receivable

0,00

9.144.491,16

-47.023.177,75

8. Change in short-term liabilities

-38.774.533,36

65.928.372,42

84.982.587,55

9. Change in prepaid items

 

3.794.894,69

-3.027.587,39

10. Other items

0,00

0,00

0,00

III.Net operating cash flow (I +/- II)

107.737.809,87

213.603.307,60

208.426.675,06

B. Investment cash flow

-1.655.165,44

-247.508.938,19

-232.859.668,16

I. Cash inflows from investment activities

102.815.574,93

16.325.827,21

181.586.446,01

1. Sale of intangible assets

5.720.732,09

13.394.507,62

160.346.524,81

2. Sale of real-estate property and intang. assets

 

0,00

0,00

3. Sale offinancial assets

97.094.842,84

2.931.319,59

21.239.921,20

a) in related companies:

 

2.315.506,84

5.433.684,39

- financial ASSETS transferred

 

42.703,00

0,00

- dividends and share in profits

 

0,00

0,00

- repayments of long-term loans granted

 

0,00

0,00

- interests

 

2.272.803,84

0,00

- other inflows

 

0,00

0,00

b) in other companies:

0,00

615.812,75

15.806.236,81

- financial ASSETS transferred

 

0,00

0,00

- dividends and share in profits

 

0,00

0,00

- repayments of long-term loans granted

 

0,00

15.410.000,0C

- interests

 

0,00

396.236,81

- other inflows

 

615.812,75

0,00

4. Other investment inflows

0,00

0,00

0,00

II. Cash outflows from investment activities

104.470.740,37

263.834.765,40

414.446.114,17

1. Acquired intangible and tangible fixed assets

43.856.097,70

175.892.371,24

246.004.358,55

2. Investments in real-estate and intangible assets

60.614.642,67

0,00

0,00

3. On financial assets

 

87.942.394,16

167.761.375,58

a) assets in related companies

 

87.942.394,16

164.661.375,58

b) assets in other companies

 

0,00

3.100.000,00

- financial ASSETS acquired

 

0,00

0,00

- long-term loans granted

 

0,00

3.100.000,00

4. Other investment outflows

 

0,00

680.380,04

III. Net cash from investment activities

-1.655.165,44

-247.508.938,19

-232.859.668,16

C. Financial cash flow

-106.279.471,22

30.256.191,15

-12.132.543,78

I. Inflows from financial activity

290.591.334,19

211.785.751,57

223.601.726,77

1. Net inflows from issuing shares, capital instr.

0,00

0,00

0,00

2. Bank credits and loans

103.625.135,48

62.923.282,55

124.514.180,10

3. Issue of debt securities

186.966.198,71

148.862.469,02

99.087.546,67

4. Other financial inflows

0,00

0,00

0,00

II. Cash outflows from financial activity

396.870.805,41

181.529.560,42

235.734.270,55

1. Own shares acquired

0,00

0,00

91.809.318,0C

2. Dividends and other payables to owner

0,00

0,00

0,00

3. payments, other than dividends,to shareholders/owners

0,00

0,00

0,00

4. Bank credits and loan repaids

102.211.880,00

9.000.000,00

21.828.254,38

5. Debt securities and loans repaid

262.090.000,00

139.261.215,50

95.779.686,67

6. Resulted from financial leasing

0,00

0,00

0,00

7. Interests payable

2.994.445,05

3.289.217,89

299.017,70

8. Interests

29.574.480,36

29.979.127,03

26.017.993,8C

9. Other financial outflows

0,00

0,00

0,00

III. Net financial cash flow

-106.279.471,22

30.256.191,15

-12.132.543,78

D. Total net cash flow (A.III +/- B.III +/- C.III)

-196.826,79

-3.649.439,44

-36.565.536,88

E. Change in cash, positions in balance

196.827,79

-3.985.749,43

-36.565.536,88

- includinq due to the foreiqn exchanqes difference

 

-336.309,99

-292.373,77

F. Cash at the beginning of the year

5.757.156,56

9.742.905,99

46.016.069,10

G. Cash at the end of the year (F +/- D)

5.560.329,77

6.093.466,55

9.450.532,22

- including restricted cash

 

0,00

0,00

 

 

Index analysis

 

INDEX

31/12/2010

31/12/2009

31/12/2008

CURRENT RATIO (CR)

Current assets/Current liabilities

1,03

0,85

1,11

QUICK RATIO (QR)

Current Assets-Inventory/Current liabilities

0,59

0,50

0,59

CASH RATIO (SQR)

Cash/Current liabilities

0,01

0,01

0,02

STOCK TURNOVER/DAY'S SUPPLY IN INVENTORY

Inventory/Turnover x 365 days

67,61

61,11

61,46

CREDITORS DAYS/DAY'S SALES IN RECEIVABLES

Current receivables/Turnover x 365 days

75,87

72,88

67,87

DEBTORS DAYS/DAY'S PURCHASE IN PAYABLES

Current liabilities/Turnoverx 365 days

153,64

174,63

119,20

TOTAL INDEBTNESS/DEBT RATIO

36,33

42,75

44,90

 

 

Outside capital/Equity capital x 100%

 

 

 

LONG TERM INDEBTNESS I/LONG TERM DEBT RATIO I

Longterm liabilities/Equity capital

0,14

0,13

0,28

LONG TERM INDEBTNESS II/LONG TERM DEBT RATIO II

Longterm liab./Equity cap. + Longterm liab. x 100%

12,07

11,81

21,65

RETURN ON SALES (ROS)

Net profit/Turnover x 100%

9,06

10,33

12,49

RETURN ON ASSETS (ROA)

Net profit/Total assets x 100%

5,42

7,09

10,45

RETURN ON EQUITY (ROE)

Net profit/Equity capital x 100%

8,51

12,38

18,96

LONG TERM LIABILITIES IN OUTSIDE CAPITAL

Longterm liabilities/Outside capital x 100%

0,26

0,19

0,36

WORKING CAPITAL

Current assets-Current liabilities

12.290.800,16

-94.563.405,73

53.596.801,69

WORKING CAPITAL RATIO

Current assets-Current liabilities/Turnover x 100%

1,07

-7,07

3,61

 

 

Sector average values

For last available 3 years

 

NACE:36.14 (Manufacture of other furniture)

 

INDEX ANALYSIS

31/12/2011

31/12/2010

31/12/2009

CURRENT RATIO (CR)

Current assets/Current liabilities

 

2,69

1,49

QUICK RATIO (QR)

Current Assets-Inventory/Current liabilities

 

1,18

0,68

RETURN ON SALES (ROS)

Net profit/Turnover x 100%

 

9,29

1,18

RETURN ON ASSETS (ROA)

Net profit/Total assets x 100%

 

7,93

-8,37

RETURN ON EQUITY (ROE)

Net profit/Equity capital x 100%

 

16,88

24,78

EMPLOYMENT

 

Employment TOTAL

155.34                           155.48                                       155.35

Employment PRODUCTIVE

14.00                               14.00                                        75.00

Employment UNPRODUCTIVE

30.00                               30.00                                        28.00

TURNOVER/ NET SALES

 

TURNOVER

739.527.617,25      360.708.695,37

NET SALES

786.642.685,45      364.367.448,62

TOTAL ASSETS

 

TOTAL ASSETS

|             1.040.792.880,59|           479.522.418,84

 

NACE:51.79.98 (Import)

 

INDEX ANALYSIS

31/12/2011

31/12/2010

31/12/2009

CURRENT RATIO (CR)

Current assets/Current liabilities

1,49

2,21

2,67

QUICK RATIO (QR)

Current Assets-Inventory/Current liabilities

0,94

1,46

1,78

RETURN ON SALES (ROS)

Net profit/Turnover x 100%

1,06

0,02

2,36

RETURN ON ASSETS (ROA)

Net profit/Total assets x 100%

2,76

5,61

5,70

RETURN ON EQUITY (ROE)

Net profit/Equity capital x 100%

4,13

-1,85

11,22

EMPLOYMENT

 

Employment TOTAL

208.98                         209.40                           208.34

Employment PRODUCTIVE

290.51                         290.51                           274.01

Employment UNPRODUCTIVE

196.46                         196.18                            198.87

TURNOVER/ NET SALES

 

TURNOVER

450.569.022,92            970.415.994,41       599.345.483,43

NET SALES

23.987.728,23            273.738.464,57         405.603.058,41

TOTAL ASSETS

 

TOTAL ASSETS

623.946.420,221           610.170.153,59          463.948.696,43

 

 

 

Historical data

 

Basic Data

 

Validity period:

1999/04/ - 2002/02/21

Legal form:

JOINT STOCK COMPANY

Register organ:

1395101

Type:

COMMERCIAL REGISTER

Number in

RHB 699

 

register: |

Supervisory board (History)

 

 

 

Validity period:

2002/02/21 - 2008/04/10

TYPE:

MEMBER,SUPERVISORY BOARD

NAME:

MARZENA

SECOND NAME:

JOLANTA

SURNAME:

CHMIEL

PESEL:

65010908360

CITIZENSHIP:

Poland

COUNTRY:

Poland

 

 

Managers (History) 

 

Validity period:       2002/02/21 - 2011/01/27

TYPE:                      PRESIDENT OF THE BOARD

NAME: STANIStAW

SURNAME: BOSAK

PESEL: 64050601178

CITIZENSHIP: Poland

COUNTRY: Poland

 

 

Payments

 

Overdue payments There aren't of debt collection action by available resources of

Overdue payments KRD (National Debt Register Economic Information Bureau www.krd.pl )

Overdue payments against this Company at 2012.02.21

 

 

Trade partners

 

COMPANY NAME:

NET PARTNERS SPOtKA Z O.O.

V.A.T.:

918-18-30-826

STREET:

CZERWONEGO KRZYZA 27A

ZIP CODE:

23-400

TOWN:

BItGORAJ

TELEPHONE::

084/6866939

FAX:

084/6866939

EMAIL:

poczta@netpartners.pl

 

COMPANY NAME:

FABRYKA MEBLI SKRZYNIOWYCH MGR INZ. ZBIGNIEW MACHAtEK

STREET:

CHMIEtEK II

ZIP CODE:

23-412

TOWN:

LUKOWA

TELEPHONE::

084/6874556

FAX:

084/6874556

 

 


Related firms

 

COMPANY NAME:

NET PARTNERS SPOtKA Z O.O.

V.A.T.:

918-18-30-826

STREET:

CZERWONEGO KRZYZA 27A

ZIP CODE:

23-400

 

TOWN: BItGORAJ

TELEPHONE:: 084/6866939

FAX: 084/6866939

EMAIL: poczta@netpartners.pl

 

COMPANY NAME:

CONVEX GLASS SP. Z O.O.

STREET:

CHMIEtEK 204B

ZIP CODE:

23-412

TOWN:

LUKOWA

TELEPHONE::

84/6850507

FAX:

84/6850540

 

COMPANY NAME:

KOMPLET PLUS SP. Z O.O.

STREET:

KRAKOWSKA 83

ZIP CODE:

34-120

TOWN:

ANDRYCHOW

TELEPHONE::

33/8720465

FAX:

33/8702663

WEBSITE:

www.komplet.biz.pl

 

COMPANY NAME:

THK EUROPE SP. Z O.O.

STREET:

AL. JEROZOLIMSKIE 184

ZIP CODE:

02-486

TOWN:

WARSZAWA

TELEPHONE::

022/5701840

FAX:

022/5701860

 

COMPANY NAME:

BRW SPOtKA Z O.O.

V.A.T.:

817-13-47-938

STREET:

WOJSKA POtSKIEGO 3

ZIP CODE:

39-300

TOWN:

MIEtEC

TELEPHONE::

17/7880650

FAX:

17/7880625

WEBSITE:

www.brw.com.pl

EMAIL:

brw@brw.com.pl

 

COMPANY NAME:

ATLAS MEBLE KUCHENNE SP. Z O.O.

STREET:

POtWIEJSKA 31

ZIP CODE:

64-300

TOWN:

NOWY TOMYSL

TELEPHONE::

61/4426500

FAX:

61/4425171

WEBSITE:

www.atlas-kuchnie.com. pi

 

COMPANY NAME:

BLEK MEBLE SP. Z O.O.

STREET:

WOJSKA POLSKIEGO 3

ZIP CODE:

39-300

TOWN:

MIELEC

TELEPHONE::

017/7738301

FAX:

017/7738302

 

COMPANY NAME:

MEBLE BLACK RED WHITE SP. Z O.O.

STREET:

KRZESZOWSKA 63

ZIP CODE:

23-400

 

TOWN: BItGORAJ

TELEPHONE:: 084/6850102

FAX: 084/6850295

 

COMPANY NAME:

BRW SOFA SPOtKA Z O.O.

STREET:

DWORCOWA 3

ZIP CODE:

10-413

TOWN:

OLSZTYN

 

COMPANY NAME:

TRAX BRW SP. Z O.O.

STREET:

ARMII KRAJOWEJ 2

ZIP CODE:

37-200

TOWN:

PRZEWORSK

TELEPHONE::

016/6493730

FAX:

016/6488589

 

COMPANY NAME:

COMP SOFT SP. Z O.O.

STREET:

WOJSKA POLSKIEGO 3

ZIP CODE:

39-300

TOWN:

MIELEC

TELEPHONE::

017/7881810

FAX:

017/7881811

WEBSITE:

www.compsoft.com.pl

 

 


Procedures

 

Officially not available

 

 

Additional information

 

ADDITIONAL INFORMATION

BLACK RED WHITE SA occupies a dominant role in the Group. It is in charge of the subsidiaries and coordinates purchases, production and sales of all com panies comprising the Group. In total, about 13 thousand people work in the Group's subsidiary and cooperating firms.

ADDITIONAL INFORMATION

The Group has at its disposal a well-planned and effectively organized sales network of about 2,300 retail outlets, over half of which are located abroad. In Poland, in addition to partner outlets, the sales of furniture and home accessories is carried out and developed by 56 owned furniture stores, including 111 large-surface ones in Wroclaw, Krakow, Lublin, Zabrze, Bedzin , Chorzow todz, Bydgoszcz, Poznan, Warsaw and Gdansk.

ADDITIONAL INFORMATION

Black Red White's wholesale distribution in Poland is realised by means of 13 wholesale outlets and regional warehouses of total storage space of about 260,000 square meters. A similar strategy has been adopted on foreign markets.

ADDITIONAL INFORMATION

The Group has its own wholesale outlets in Ukraine, Belarus, Russia as well as Bosnia and Herzegovina, and partner outlets are to be found in Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Greece.

 

 

Banks

 

NAME:

Bank Polska Kasa Opieki S.A.

STREET:

ul.Kosciuszki 138

ZIP CODE:

23-400

TOWN:

Bitgoraj

ACCOUNT NUMBER:

10701757-339432-4750-136

 

NAME:                    Bank Handlowy w Warszawie SA

STREET:                 ul.Kowalska 5

ZIP CODE: 20-115

TOWN: Lublin

 

Customers / suppliers

 

Officially not available    

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.49.06

UK Pound

1

Rs.77.19

Euro

1

Rs.65.57

 

 

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%)

 

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.