MIRA INFORM REPORT

 

 

Report Date :

03.07.2012

 

IDENTIFICATION DETAILS

 

Name :

ASTENJOHNSON, S.R.O. 

 

 

Formerly Known As :

Sitos Holdings, s.r.o.        

 

 

Registered Office :

Bezová 1658 , 140 00 Praha 4 

 

 

Country :

Czech Republic

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

12.07.2004

 

 

Com. Reg. No.:

C/101157

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of other technical and industrial textiles

 

 

No. of Employees :

150

 

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 :

Satisfactory

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Czech Republic

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 


Company name & address 

AstenJohnson, s.r.o. 

Bezová 1658 
140 00 Praha 4 

telephone: 00420/ 383 322 002
telefax: 00420/ 383 321 998
e-mail: info.cz@astenjohnson.com
Web: www.sitos.cz

 

 

Company summary

 

 

Company development

Positive company development

 

 

Order situation

Satisfactory course of business

 

Terms of payment

no complaints

 

 

Business connection

Business connections appear permissible

 

 

 

Legal form

Private limited company

 

 

Foundation

12/07/2004 - Private limited company

Comp. Register

12/07/2004, Městský soud v Praze, RegNr.: C/101157
Statistical number: 27163806
Tax number: CZ27163806

 

Share Capital

12/07/2004

CZK

200 000,-

 

 

22/12/2005

CZK

120 000 000,-

 

 

Shareholders

AstenJohnson Specialty Holdings, Inc.
1209 Orange Street, 19801 City of Wilmington, USA

CZK

120 000 000,-

 

Management

Guido André Quinting (21.04.1964)
Eynattener Strasse 179, B-4730 Raeren, Belgium
Executive Manager
sole power of attorney

 

 

James M. Gibson (16.02.1965)
Marsh Creek Drive 2553, 29414 Charleston, USA
Executive Manager
sole power of attorney

 

Stephen King Polston (13.02.1959)
Rivertowne Country Club Drive 1588, SC 29466 Mt. Pleasant, USA
Executive Manager
sole power of attorney

 

General Data

Manufacture and sale of paper mill wires and technical tissues as 
carriage elements in the course of paper sheet formation. 

 

Main activity:
Manufacture of other technical and industrial textiles

 

 

 

Former name(s)
Korzia s.r.o. 
Beginning of validity: 12.07.2004
End of validity: 05.10.2005

 

Sitos Holdings, s.r.o.           
Beginning of validity: 05.10.2005
End of validity: 01.01.2008

 

 

Trade name(s)
AstenJohnson, s.r.o. 
Beginning of validity: 01.01.2008

 

Export:
USA
Germany
Singapore

85%

 

 

 

 

Address:
Bezová 1658, 140 00 Praha 4 
Beginning of validity: 05.10.2005
telephone:
00420/ 383 322 002
telefax:
00420/ 383 321 998

 

 

V Dolích 306, 252 28 Černošice 
Beginning of validity: 12.07.2004
End of validity: 11.05.2005

 

Ocelářská 13, 190 00 Praha 9 
Beginning of validity: 11.05.2005
End of validity: 05.10.2005

 

 

business locations:
Textiláků 1112, 386 02 Strakonice 
e-mail:
info.cz@astenjohnson.com
Web:
www.sitos.cz

Staff

2008

161 employees

 

 

2009

147 employees

 

2010

145 employees

 

 

2011

150 employees

 

2012

150 employees

 

Annual Sales

2006

actual sales

CZK

186 626 000,-

 

 

2007

actual sales

CZK

213 846 000,-

 

 

 

2008

actual sales

CZK

238 241 000,-

 

 

2009

actual sales

CZK

221 489 000,-

 

 

 

2010

actual sales

CZK

250 000 000,-

 

 

2011

actual sales

CZK

250 000 000,-

 

 

 

according to own data


Property

Property of the company: Business premises 
(verified in the real estate registry)
CZ-386 02 Strakonice I., Textiláků 1112

 

Balance sheets

The enclosed balance of 2009 from business register, -. (31.12.2009 - 1 CZK)
The enclosed balance of 2008. (31.12.2008 - 1 CZK)
The enclosed balance of 2007. (31.12.2007 - 1 CZK)
The enclosed balance of 2006. (31.12.2006 - 1 CZK)

 

The enclosed profit/loss account of 2009 from business register, -. (31.12.2009 - 1 CZK)
The enclosed profit/loss account of 2008 from business register, -. (31.12.2008 - 1 CZK)
The enclosed profit/loss account of 2007. (31.12.2007 - 1 CZK)
The enclosed profit/loss account of 2006. (31.12.2006 - 1 CZK)

 

Remarks

The company contrary to the Act on Accounting did not store its current 
final accounts to the Companies Register.


The company does not provide its current final accounts even upon a written request. 


The company was challenged to fulfil its duty to store its final account at the Companies Register.


All the sources of negative data accessible to public (insolvency registers, databases of debtors of health insurance institutions, commercial bulletin, collection database and others) are currently monitored.


The final accounts for the year 2010 are not available yet.

 

To the inquired company, property of the company SÍTOS, a.s., IČ: 25 
19 51 66, was transferred in consequence of fusion by merger. 
The record date of the fusion is 1.1.2006. 

Contact:
Michal Hruška - economist, e-mail: michal.hruska@astenjohnson.com

 

Bankers

Československá obchodní banka, a. s. 

GE Money Bank, a.s. 

 

Copyright: s.r.o. Praha

This information is addressed exclusively to the addressee. Contractor obligates to provide updated information. Although it is always put maximum effort to collect actual and exact information, it is not confirmed as delinquency if there are particular inaccurateness contained within the information, which are not considered as essential in terms of the objective for which the information is provided to the addressee. Contractor and recipient conform to the rules of the Name and Description Security Act, Nub.101/2000. According to the Name and Description Security Act, recipient has the right to process or to use forwarding data only for the purpose for which information has been sent to the recipient. Usage for other purpose is acceptable only in case referring to valid regulations of the above mentioned act.

 

 

 

Financial data

 

 

Balance

31.12.2006 (CZK)

31.12.2007 (CZK)

31.12.2008 (CZK)

31.12.2009 (CZK)

r1

TOTAL ASSETS

171 477 000

219 472 000

295 253 000

314 858 000

r2

Receivables for subscriptions

0

0

 

0

r3

Fixed assets

93 281 000

138 577 000

203 460 000

214 130 000

r4

Intangible fixed assets

0

0

 

455 000

r5

Incorporation expenses

 

0

 

0

r6

Research and development

 

0

 

0

r7

Software

 

0

 

455 000

r8

Valuable rights

 

0

 

0

r9

Goodwill

 

0

 

0

r10

Other intangible fixed assets

 

0

 

0

r11

Intangible fixed assets under construction

 

0

 

0

r12

Advance payments for intangible fixed assets

 

0

 

0

r13

Tangible fixed assets

93 281 000

138 577 000

203 460 000

213 675 000

r14

Lands

1 998 000

1 998 000

1 998 000

1 998 000

r15

Constructions

49 548 000

49 835 000

50 154 000

95 252 000

r16

Equipment

39 809 000

51 696 000

72 854 000

116 425 000

r17

Perennial corps

 

0

 

0

r18

Breeding and draught animals

 

0

 

0

r19

Other tangible fixed assets

 

0

 

0

r20

Tangible fixed assets under construction

1 926 000

29 166 000

74 420 000

0

r21

Advance payments for tangible fixed assets

 

5 882 000

4 034 000

0

r22

Adjustment to acquired assets

 

0

 

0

r23

Long-term financial assets

0

0

 

0

r24

Shares in controlled and managed organizations

 

0

 

0

r25

Shares in accounting units with substantial influence

 

0

 

0

r26

Other securities and shares

 

0

 

0

r27

Loans to controlled and managed organizations and to accounting unit with substantial influence

 

0

 

0

r28

Other financial investments

 

0

 

0

r29

Financial investments acquired

 

0

 

0

r30

Advance payments for long-term financial assets

 

0

 

0

r31

Current assets

77 425 000

80 107 000

91 161 000

100 267 000

r32

Inventory

22 890 000

31 225 000

33 237 000

34 050 000

r33

Materials

5 180 000

7 516 000

8 859 000

7 857 000

r34

Work in progress and semi-products

15 695 000

19 789 000

20 756 000

21 743 000

r35

Finished products

2 015 000

3 920 000

3 563 000

3 617 000

r36

Animals

 

0

 

0

r37

Merchandise

 

0

 

0

r38

Advance payments for inventory

 

0

59 000

833 000

r39

Long-term receivables

0

0

 

0

r40

Trade receivables

 

0

 

0

r41

Receivables from controlled and managed organizations

 

0

 

0

r42

Receivables from accounting units with substantial influence

 

0

 

0

r43

Receivables from partners, cooperative members and association members

 

0

 

0

r44

Long-term deposits given

 

0

 

0

r45

Estimated receivable

 

0

 

0

r46

Other receivables

 

0

 

0

r47

Deferred tax receivable

 

0

 

0

r48

Short-term receivables

26 159 000

37 778 000

54 766 000

51 300 000

r49

Trade receivables

24 737 000

35 197 000

51 092 000

46 962 000

r50

Receivables from controlled and managed organizations

 

0

 

0

r51

Receivables from accounting units with substantial influence

 

0

 

0

r52

Receivables from partners, cooperative members and association members

 

0

 

0

r53

Receivables from social security and health insurance

 

0

 

0

r54

Due from state - tax receivable

1 381 000

2 469 000

3 635 000

4 289 000

r55

Short-term deposits given

41 000

112 000

39 000

49 000

r56

Estimated receivable

 

0

 

0

r57

Other receivables

 

0

 

0

r58

Short-term financial assets

28 375 000

11 104 000

3 158 000

14 917 000

r59

Cash

236 000

167 000

165 000

97 000

r60

Bank accounts

28 139 000

10 937 000

2 993 000

14 820 000

r61

Short-term securities and ownership interests

 

0

 

0

r62

Short-term financial assets acquired

 

0

 

0

r63

Accruals

771 000

788 000

632 000

461 000

r64

Deferred expenses

728 000

755 000

593 000

273 000

r65

Complex deferred costs

0

0

 

0

r66

Deferred income

43 000

33 000

39 000

188 000

r67

TOTAL LIABILITIES

171 477 000

219 472 000

295 253 000

314 858 000

r68

Equity

136 517 000

159 769 000

206 998 000

274 885 000

r69

Registered capital

120 000 000

120 000 000

120 000 000

120 000 000

r70

Registered capital

120 000 000

120 000 000

120 000 000

120 000 000

r71

Company’s own shares and ownership interests (-)

 

0

 

0

r72

Changes of registered capital ( +/- )

 

0

 

0

r73

Capital funds

14 557 000

14 557 000

38 438 000

84 610 000

r74

Share premium

 

0

 

0

r75

Other capital funds

14 557 000

14 557 000

38 438 000

84 610 000

r76

Differences from revaluation of assets and liabilities ( +/- )

 

0

 

0

r77

Differences from revaluation in transformation ( +/- )

 

0

 

0

r78

Reserve funds, statutory reserve account for cooperatives, and other retained earnings

0

1 216 000

2 377 000

3 546 000

r79

Legal reserve fund / indivisible fund

 

1 216 000

2 377 000

3 546 000

r80

Statutory and other funds

 

0

 

0

r81

Profit / loss - previous years

10 197 000

744 000

22 804 000

45 014 000

r82

Retained earnings from previous years

 

744 000

22 804 000

45 014 000

r83

Accumulated losses from previous years

10 197 000

0

 

0

r84

Profit / loss - current year (+/-)

12 157 000

23 252 000

23 379 000

21 715 000

r85

Other sources

33 544 000

58 478 000

86 695 000

39 140 000

r86

Reserves

550 000

711 000

713 000

657 000

r87

Reserves under special statutory regulations

 

0

 

0

r88

Reserves for pension and similar payables

 

0

 

0

r89

Income tax reserves

 

0

 

0

r90

Other reserves

550 000

711 000

713 000

657 000

r91

Long-term payables

12 942 000

10 510 000

11 180 000

12 885 000

r92

Trade payables

 

0

 

0

r93

Payables to controlled and managed organizations

 

0

 

0

r94

Payables to accounting units with substantial influence

 

0

 

0

r95

Payables from partners, cooperative members and association members

 

0

 

0

r96

Long-term advances received

 

0

 

0

r97

Issues bonds

 

0

 

0

r98

Long-term notes payables

 

0

 

0

r99

Estimated payables

 

0

 

0

r100

Other payables

 

0

 

0

r101

Deferred tax liability

12 942 000

10 510 000

11 180 000

12 885 000

r102

Short-term payables

20 052 000

38 692 000

63 102 000

23 194 000

r103

Trade payables

13 180 000

16 230 000

22 538 000

16 043 000

r104

Payables to controlled and managed organizations

 

12 264 000

31 563 000

0

r105

Payables to accounting units with substantial influence

 

0

 

0

r106

Payables from partners, cooperative members and association members

 

0

 

0

r107

Payroll

3 098 000

3 314 000

4 275 000

3 624 000

r108

Payables to social securities and health insurance

1 877 000

2 185 000

2 192 000

1 846 000

r109

Due from state - tax liabilities and subsidies

872 000

3 489 000

1 943 000

836 000

r110

Short-term deposits received

832 000

961 000

220 000

542 000

r111

Issues bonds

 

0

 

0

r112

Estimated payables

 

30 000

21 000

96 000

r113

Other payables

193 000

219 000

350 000

207 000

r114

Bank loans and financial accommodations

0

8 565 000

11 700 000

2 404 000

r115

Long-term bank loans

0

0

 

0

r116

Short-term bank loans

0

8 565 000

11 700 000

2 404 000

r117

Short-term accommodations

0

0

 

0

r118

Accruals

1 416 000

1 225 000

1 560 000

833 000

r119

Accrued expenses

1 416 000

1 225 000

1 560 000

833 000

r120

Deferred revenues

0

0

 

0

 

profit/loss account

31.12.2006 (CZK)

31.12.2007 (CZK)

31.12.2008 (CZK)

31.12.2009 (CZK)

a1

Turnover

186 626 000

213 846 000

238 241 000

221 489 000

a2

Revenues from sold goods

 

0

 

0

a3

Expenses on sold goods

 

0

 

0

a4

Sale margin

 

0

 

0

a5

Production

191 750 000

224 398 000

242 318 000

222 934 000

a6

Revenues from own products and services

186 626 000

213 846 000

238 241 000

221 489 000

a7

Change in inventory of own products

1 197 000

6 007 000

611 000

1 040 000

a8

Capitalization

3 927 000

4 545 000

3 466 000

405 000

a9

Production consumption

87 433 000

103 133 000

114 210 000

105 808 000

a10

Consumption of material and energy

63 733 000

76 708 000

92 252 000

87 409 000

a11

Services

23 700 000

26 425 000

21 958 000

18 399 000

a12

Added value

104 317 000

121 265 000

128 108 000

117 126 000

a13

Personnel expenses

65 894 000

73 813 000

78 433 000

74 849 000

a14

Wages and salaries

46 955 000

52 786 000

57 334 000

54 632 000

a15

Renumeration of board members

 

0

 

0

a16

Social security expenses and health insurance

16 429 000

18 469 000

18 486 000

16 989 000

a17

Other social expenses

2 510 000

2 558 000

2 613 000

3 228 000

a18

Taxes and fees

393 000

404 000

410 000

533 000

a19

Depreciations of intangible and tangible assets

12 350 000

13 597 000

14 665 000

19 464 000

a20

Revenues from disposals of fixed assets and materials

372 000

897 000

1 386 000

253 000

a21

Revenues from disposals of fixed assets

1 000

171 000

1 004 000

110 000

a22

Revenues from disposals of materials

371 000

726 000

382 000

143 000

a23

Net book value of disposed fixed assets and materials

219 000

197 000

520 000

113 000

a24

Net book value of sold fixed assets

219 000

0

260 000

0

a25

Net book value of sold material

 

197 000

260 000

113 000

a26

Change in operating reserves and adjustments and complex deferred costs ( + / - )

1 102 000

-795 000

1 981 000

-1 163 000

a27

Other operating revenues

723 000

603 000

52 000

1 453 000

a28

Other operating expenses

1 580 000

3 206 000

2 422 000

1 778 000

a29

Transfer of operating revenues

 

0

 

0

a30

Transfer of operating expenses

 

0

 

0

a31

Operating profit / loss

23 874 000

32 343 000

31 115 000

23 258 000

a32

Revenues from sales of securities and ownership interests

 

0

 

0

a33

Sold securities and ownership interests

 

0

 

0

a34

Revenues from long-term financial assets

 

0

0

0

a35

Revenues from shares in controlled and managed organizations and in accounting units with substantial influence

 

0

 

0

a36

Revenues from others securities and ownership interests

 

0

 

0

a37

Revenues from other long-term financial assets

 

0

 

0

a38

Revenues from short-term financial assets

 

0

 

0

a39

Expenses associated with financial assets

 

0

 

0

a40

Revenues from revaluation of securities and derivatives

 

0

 

0

a41

Cost of revaluation of securities and derivatives

 

0

 

0

a42

Change in financial reserves and adjustments ( + / - )

 

0

2 000

0

a43

Interest revenues

292 000

418 000

164 000

4 000

a44

Interest expenses

532 000

191 000

791 000

1 163 000

a45

Other financial revenues

3 568 000

6 312 000

13 563 000

8 733 000

a46

Other financial expenses

10 525 000

11 403 000

13 532 000

4 633 000

a47

Transfer of financial revenues

 

0

 

0

a48

Transfer of financial expenses

 

0

 

0

a49

Profit / loss from financial operations ( transactions )

-7 197 000

-4 864 000

-598 000

2 941 000

a50

Income tax on ordinary income

4 520 000

4 227 000

7 138 000

4 484 000

a51

Due tax

4 010 000

6 659 000

6 467 000

2 780 000

a52

Tax deferred

510 000

-2 432 000

671 000

1 704 000

a53

Operating profit / loss ordinary activity

12 157 000

23 252 000

23 379 000

21 715 000

a54

Extraordinary revenues

 

0

 

0

a55

Extraordinary expenses

 

0

 

0

a56

Income tax on extraordinary income

 

0

 

0

a57

Due tax

 

0

 

0

a58

Tax deferred

 

0

 

0

a59

Operating profit / loss extraordinary activity

 

0

 

0

a60

Transfer profit ( loss ) to partners (+/-)

 

0

 

0

a61

Profit / loss of current accounting period (+/-)

12 157 000

23 252 000

23 379 000

21 715 000

a62

Profit / loss before tax (+/-)

16 677 000

27 479 000

30 517 000

26 199 000

 

Receivables after due date total

4 638 000

 

6 855 000

10 451 000

 

Receivables more than 180 days after due date

216 000

 

 

 

 

Liabilities after due date total

3 307 000

 

3 063 000

347 000

 

Liabilities more than 180 days after due date

0

 

 

 

 

 

Balance indices

 

31.12.2006

31.12.2007

31.12.2008

31.12.2009

Return on total assets ROA (in %)

a62/r1 * 100

9,73

12,52

10,34

8,32

Return on equity ROE (in %)

a62/r68 * 100

12,22

17,20

14,74

9,53

Return on sales ROS (in %)

a62/a1 * 100

8,94

12,85

12,81

11,83

Turnover of receivables (in days)

r49/a1 * 365

48,38

60,08

78,28

77,39

Turnover of liabilities (in days)

r103/a1 * 365

25,78

27,70

34,53

26,44

Turnover of inventories (days)

r32/a1 * 365

44,77

53,30

50,92

56,11

Net working capital (in ths. CZK)

r31 - r102 - r116 - r117

57 373,00

32 850,00

16 359,00

74 669,00

Ratio of accounts payable to accounts receivable (in %)

(r39+r48) / (r91+r102) * 100

79,28

76,78

n/a

142,19

Ratio of profit/loss to tangible assets (in%)

r3 / a1 * 100

49,98

64,80

85,40

96,68

Current ratio

r31 / (r102+r116+r117)

3,86

1,70

1,22

3,92

Quick ratio

(r58+r48) / (r102+r116+r117)

2,72

1,03

0,77

2,59

Cash ratio

r58 / (r102+r116+r117)

1,42

0,23

0,04

0,58

Debt ratio I (in %)

(1-r68/r67) * 100

20,39

27,20

29,89

12,70

Debt ratio II (in %)

r85/r67 * 100

19,56

26,64

29,36

12,43


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.55.83

UK Pound

1

Rs.87.41

Euro

1

Rs.70.43

 

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

----

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.