MIRA
INFORM REPORT
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Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MOLECOR TECNOLOGIA SL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.06.2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
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No. of Employees : |
28 |
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RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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 |
SPAIN - ECONOMIC OVERVIEW
Spain's mixed capitalist
economy is the 13th largest in the world, and its per capita income roughly
matches that of Germany and France. However, after almost 15 years of above
average GDP growth, the Spanish economy began to slow in late 2007 and entered
into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009,
ending a 16-year growth trend, and by another 0.1% in 2010, before turning
positive in 2011, making Spain the last major economy to emerge from the global
recession. The reversal in Spain''s economic growth reflected a significant
decline in construction amid an oversupply of housing and falling consumer
spending, while exports actually have begun to grow. Government efforts to
boost the economy through stimulus spending, extended unemployment benefits,
and loan guarantees did not prevent a sharp rise in the unemployment rate,
which rose from a low of about 8% in 2007 to over 20% in 2011. The government
budget deficit worsened from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more
than three times the euro-zone limit. Madrid cut the deficit to 8.5% of GDP in
2011, a larger deficit than the 6% target negotiated between Spain and the EU.
Spain''s large budget deficit and poor economic growth prospects have made it
vulnerable to financial contagion from other highly-indebted euro zone members
despite the government''s efforts to cut spending, privatize industries, and
boost competitiveness through labor market reforms. Spanish banks'' high
exposure to the collapsed domestic construction and real estate market also
poses a continued risk for the sector. The government oversaw a restructuring
of the savings bank sector in 2010, and provided some $15 billion in capital to
various institutions. Investors remain concerned that Madrid may need to bail
out more troubled banks. The Bank of Spain, however, is seeking to boost
confidence in the financial sector by pressuring banks to come clean about
their losses and consolidate into stronger groups.
Source : CIA
Company name
MOLECOR TECNOLOGIA SL
CIF/NIF: B84724921
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: MOLECOR TECNOLOGIA SL
Other names: YES
Current Address: CALLE DEL DUERO, 34
28840 MEJORADA DEL CAMPO MADRID
Branches: 1
Telephone number: 902566577 Fax: 902566578
URL: www.molecor.com
Corporate e-mail: info@molecor.com
Trade Risk
Credit appraisal: 403.000,00
Incidents: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2011): 12.508.708,84
(Mercantile Register)
Result: 1.273.247,34
Total Assets: 17.267.298,05
Share capital: 418.588,00
Employees: 28
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 09/06/2006
Activity: Mfg. of plastic materials
NACE 2009 CODE: 2222
International Operations: Imports and
Exports
Corporate Structure
Member of the Board:
Other Complementary Information
Latest act published in BORME: 14/11/2011 Appointments
Latest press article: 30/08/2011 CINCO
DIAS (GENERAL INFORMATION)
Bank Entities: There are
TRADE RISK
Financial situation
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Exercise:2011 |
Evolution |
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Treasury |
Excellent |
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Indebtedness |
Average |
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Profitability |
Good |
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Balance |
Very good |
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Performance
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Incidents |
None or Negligible |
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Business
Trajectory |
Excellent |
Rating Explanation
Financial situation
The companys financial situation is good.
The companys financial situation evolution has
been stable.
The sales evolution and results has been positive.
The auditors opinion about the latest accounts has
been favourable.
Company Structure
The companys capitalization degree determines that
its structure is normal.
The companys size is medium depending
on its sales volume.
The employees evolution has been negative.
Performance and Incidences
The available information indicates that the
company does not have payment incidences.
He have detected no recent legal actions or claims
from the Administration against this company.
Accounts Filing
The company files regularly its accounts.
Reasons of the last outstanding calculation in the note
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DATE |
CHANGE |
RESULTING NOTE |
EVENT |
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01/10/2012 |
Equal |
17 |
New financial statements have been uploaded. |
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02/02/2012 |
Increase |
17 |
New financial statements have been uploaded. |
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
Summary
COMPANY NOT INCLUDED IN EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI -
SECTORIAL DEFAULTS OF PAYMENT
There is no information related to the nif/cif
consulted in the in the EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL
DEFAULTS OF PAYMENT file
This information comes from Experian Bureau Empresarial Service,
property of Experian Bureau de Crιdito S.A. It could just be used for
businessmen or professionals and for the own aims of the business, and could
not be transferred or transmitted to third parties, copied, duplicate or
reproduce, nor incorporate to any owned or external database, or reuse it in
any direct or indirect way. Experian Bureau de Crιdito S.A. may file you for
damages it may suffer in case of breaching any of the afore mentioned
obligations. Experian would not be responsible of the lack of accuracy in the
supplied information when it coincides with the one supplied by the creditor
entities.
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in
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31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
9.316.052,97 |
53,95 |
5.917.776,88 |
50,53 |
3.811.603,19 |
46,63 |
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B) CURRENT ASSETS |
7.951.245,08 |
46,05 |
5.794.117,01 |
49,47 |
4.362.292,65 |
53,37 |
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LIABILITIES |
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A) NET WORTH |
5.678.404,25 |
32,89 |
3.911.685,25 |
33,40 |
3.161.648,74 |
38,68 |
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B) NON CURRENT LIABILITIES |
5.775.790,80 |
33,45 |
3.388.525,37 |
28,93 |
2.909.632,34 |
35,60 |
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C) CURRENT LIABILITIES |
5.813.103,00 |
33,67 |
4.411.683,27 |
37,67 |
2.102.614,76 |
25,72 |
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Balance Sheet Comments
Total assets of the company grew in 47,43% between 2.010 and 2.011.
This growth is a consequence of non current assets increase
in 57,42%.
This growth has been mainly financed with a debt increase
of 48,57%. Nevertheless Net Worth grew 45,17%.
Total assets of the company grew in 43,28%
between 2.009 and 2.010.
This growth is a consequence of non current assets increase
in 55,26%.
This growth has been mainly financed with a debt increase
of 55,62%. Nevertheless Net Worth grew 23,72%.
Profit and loss account analysis
Figures given in
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31/12/2011 (12) |
% NET TURNOVER |
31/12/2010 (12) |
% NET TURNOVER |
31/12/2009 (12) |
% NET TURNOVER |
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SALES |
12.508.708,84 |
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7.095.322,69 |
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5.490.622,59 |
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GROSS MARGIN |
7.375.834,83 |
58,97 |
4.573.059,22 |
64,45 |
2.994.406,57 |
54,54 |
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EBITDA |
2.684.794,34 |
21,46 |
1.422.627,05 |
20,05 |
809.357,85 |
14,74 |
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EBIT |
1.923.750,14 |
15,38 |
1.011.510,36 |
14,26 |
590.155,44 |
10,75 |
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NET RESULT |
1.273.247,34 |
10,18 |
750.036,51 |
10,57 |
438.959,27 |
7,99 |
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EFFECTIVE TAX RATE (%) |
21,85 |
0,00 |
8,83 |
0,00 |
16,42 |
0,00 |
Profit and Loss Account Comments
The companys sales figure grew
in 76,30% between 2.010 and 2.011.
The companys EBIT grew
in 90,19% between 2.010 and 2.011.
This evolution implies an increase in the companys economic
profitability .
The result of these variations is an increase of the companys Economic
Profitability of 32,73% in the analysed period, being equal
to 15,45% in the year 2.011.
The Net Result of the company grew
in 69,76% between 2.010 and 2.011.
The companys Financial Profitability has been positively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the companys Economic
Profitability of 34,84% in the analysed period, being equal
to 29,22% in the year 2.011 .
The companys sales figure grew
in 29,23% between 2.009 and 2.010.
The companys EBIT grew
in 71,40% between 2.009 and 2.010.
This evolution implies an increase in the companys economic
profitability .
The result of these variations is an increase of the companys Economic
Profitability of 14,34% in the analysed period, being equal
to 11,64% in the year 2.010.
The Net Result of the company grew
in 70,87% between 2.009 and 2.010.
The companys Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the companys Economic
Profitability of 25,70% in the analysed period, being equal
to 21,67% in the year 2.010 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2011) |
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 |
53,95 |
49,20 |
4,75 |
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A) CURRENT ASSETS |
46,05 |
50,80 |
-4,75 |
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LIABILITIES |
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A) NET WORTH |
32,89 |
40,73 |
-7,84 |
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B) NON CURRENT LIABILITIES |
33,45 |
18,78 |
14,67 |
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C) CURRENT LIABILITIES |
33,67 |
40,49 |
-6,82 |
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
95,19 |
98,46 |
-3,27 |
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GROSS MARGIN |
56,13 |
41,82 |
14,31 |
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EBITDA |
20,43 |
9,41 |
11,02 |
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EBIT |
14,64 |
3,36 |
11,28 |
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NET RESULT |
9,69 |
2,66 |
7,03 |
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Sector Composition
Compared sector (NACE 2009): 2222
Number of companies: 52
Size (sales figure): 7,000,000.00 - 40,000,000.00 Euros
Comments on the sectorial comparative
Compared to its sector the assets of the companies show a greater
proportion of non current assets. Specifically the difference with the sector
average is 4,75% .
In liabilities composition the company turns to on a smaller scale to
self financing, being the Net Worth proportion 7,84% inferior. As a
consequence, external financing sources are more used by the company
( 7,84% more than the sector) .
The proportion that the sales mean to the companys total ordinary
income is 95,19% , an 3,27% lower than in the sector .
The companys EBIT was positive and was 14,64% with regard to
the total ordinary income, 11,28% superior to the one of the sector .
The companys capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,15 in comparison
with 0,03) .
The companys net result was positive and equal to 9,69% with
regard to the total ordinary income, 7,03% superior to the one of the
sector .
The financial results and the tax impact have had a negative impact on the
net result of the company with a worse behaviour that the one of the sector .
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2011
Figures given in
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss Account Balance |
1.273.248,00 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Goodwill reserve |
0,00 |
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Voluntary reserves |
0,00 |
Special reserves |
0,00 |
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Other reserves disposable at will |
0,00 |
Voluntary reserves |
1.273.248,00 |
|
Total of Amounts to be distributed |
1.273.248,00 |
Dividends |
0,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
1.273.248,00 |
Auditing
Source: filing of annual financial statement 2011
Auditors opinion: FAVOURABLE
Auditor: SERESPA S.A.
Auditing fees: 8.200,00
Facts subsequent to the closing
Source: Annual financial report 2011
After the closure no relevant facts requiring their inclusion in the
annual accounts have taken place.
ADDRESSES
Current Legal Seat Address:
CALLE DEL DUERO, 34
28840 MEJORADA DEL CAMPO MADRID
Previous Seat Address:
CALLE ROSA MONTERO 36
28521 RIVAS-VACIAMADRID
MADRID
Characteristics of the current address
Type of establishment: office
Owners: rented
Local Situation: main
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE DE CISTIERNA, 5 |
28947 |
FUENLABRADA |
Madrid |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
10/01/2011)
Other Positions : 4 (latest change: 31/10/2011)
Auditor : 1 (latest change: 31/12/2009)
Operative Board Members : 3 (latest change: 07/09/2012)
Non-current positions : 15 (latest change: 10/01/2011)
Main Board members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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MEMBER OF THE BOARD |
PEDROSA PEREZ, JESUS MARIA |
10/01/2011 |
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Auditor
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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AUDITOR |
SERESPA SAP |
31/12/2009 |
Board members remuneration
Source: Annual
financial report 2011
Board
members remuneration: 240.000,00
|
POSITION |
NAME AND SURNAME |
|
General Manager |
ROMERO SERRANO, JOSE MANUEL |
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Financial Manager |
ROMERO SERRANO, JOSE MANUEL |
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Commercial Director |
ROMERO SERRANO, JOSE MANUEL |
FINANCIAL LINKS
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
STIRIA CAPITAL SOCIEDAD DE CAPITAL RIESGO DE REGIMEN SIMPLIFICADO SA |
A84918929 |
14,99 |
OWN SOURCES |
07/09/2012 |
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DELGADO COBOS JOSE MARIA |
|
Indef. |
OWN SOURCES |
07/09/2012 |
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PEREZ FUENTES BEATRIZ |
|
Indef. |
OWN SOURCES |
07/09/2012 |
|
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ARENA FERNANDEZ ANTONIO |
|
Indef. |
OWN SOURCES |
07/09/2012 |
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ALMERIA VALDEON LUIS |
|
Indef. |
OWN SOURCES |
07/09/2012 |
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MUNOZ JUAN IGNACIO |
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Indef. |
OWN SOURCES |
07/09/2012 |
BUSINESS INFORMATION
Incorporation date: 09/06/2006
Activity beginning date: 15/09/2006
Establishment date: 01/01/2006
Founders Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Code: 1482200
Activity: Mfg. of plastic materials
NACE 2009 CODE: 2222
NACE 2009 Activity: Manufacture of plastic packing goods
Business: Research and development, including basic research, applied research and ENGINEERING & development of new materials
Activity description: Development and commercialization
of technology for the manufacture
of PVC pipes or pressurized water
line.
Latest employees figure: 28 (2012)
% of fixed employees: 100,00%
% of men: 83,33%
% of women: 16,67%
Employees evolution
|
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Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
40 |
8 |
SALES
Export Percentage: 84%
Exports to: UE Y OTROS PAISES
National Distribution: 16%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
PALLMANN |
YES |
|
BATTENFELD-CINCINNATI |
YES |
|
CHEMSON |
YES |
|
SOLVIN |
YES |
El 59,92 de su cifra de negocio corresponde a tech.
El 40,08% de su cifra de negocio corresponde a
canalizaciones.
Professional and advertising services
Source: Annual financial report 2011
Professional services
expenses: 409.884,00
Advertising services expenses: 227.036,00
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CAIXABANK, S.A. |
4350 |
C. ALEJO CARPENTIER, 11 |
ALCALA DE HENARES |
Madrid |
Discount facilities: 0
Credit policy: 0
Mortgage loan: 0
Loans with no real security: 2
|
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Entity:CDTI Debt type:Loans with no
real security Date of the granting: 16/11/2006 |
Granted amount:345.200,00 Source: Filed
Accounts (2011) |
|
Operation description: Prιstamo Neotec |
|
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Entity:CDTI Debt type:Loans with no
real security Expiry date:30/06/2021 Date of the granting: 10/02/2011 |
Granted amount:500.000,00 Total outstanding amount:500.000,00
Source: Filed
Accounts (2011) |
|
|
|
Figures given in
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
|
|
Instalaciones tιcnicas, utillaje, maquinaria y elementos de
transporte. |
293.463,00 |
528.683,00 |
Grants
|
|
|
|
Body-entity: IMADE Grant type: Financial (capital,
interests, etc) Granting year: 2011 |
Nominal amount: 6.413,00 Source: Filed
Accounts (2011) |
|
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|
Brand name: TOM (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 08/10/2008
LEGAL STRUCTURE
Constitution Data
Register Date: 15/09/2006
Register town: Madrid
Announcement number: 324105
Register data:
Volume 22846, Folio 21, Section 8, Sheet 409037,
Inscription I/A 1 (2006-06-09)
Share capital: 30.000
Legal form: Limited Liability Company
Share capital: 418.588,00
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 12 (Last: 14/11/2011, first:
21/06/2006)
Acts on capital: 9 (Last: 28/02/2008, first:
31/10/2006)
Acts on creation: 1 (Last: 21/06/2006)
Acts on filed accounts: 4 (Last: 04/10/2010, first:
16/01/2008)
Acts on identification: 1 (Last: 07/04/2008)
Acts on Information: 3 (Last: 31/10/2006, first:
21/06/2006)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Appointments |
14/11/2011 |
450191 |
Madrid |
|
Appointments |
10/01/2011 |
8211 |
Madrid |
|
Resignations |
10/01/2011 |
8211 |
Madrid |
|
Annual Filed Accounts (2009) |
04/10/2010 |
735270 |
Madrid |
|
Appointments |
13/11/2009 |
473954 |
Madrid |
|
Resignations |
13/11/2009 |
473954 |
Madrid |
|
Annual Filed Accounts (2008) |
04/11/2009 |
804959 |
Madrid |
|
Annual Filed Accounts (2007) |
27/10/2008 |
957090 |
Madrid |
|
Change of registered address |
07/04/2008 |
180928 |
Madrid |
|
Appointments |
07/04/2008 |
180928 |
Madrid |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 1 (Last: 30/08/2011)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 0
Latest press article published
30/08/2011 CINCO DIAS (Page 31,32) GENERAL
INFORMATION
The Madrid-based company markets a product Molecor unique in the world: tubes of large diameter
PVC oriented. The
firm has grown in regards to benefits. In
2007 ended with 200,000 euros, but only a year later moved
to the threshold of one million. In 2010 the CIA. reached
77 million and by 2011 the company expects to reach 14 million. The nature
of this SME market,
with a staff of 50 employees, is the world, which includes
85% of its fruits in the form of benefits.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 SCs 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.