MIRA
INFORM REPORT
|
Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
FRAG COMERCIO INTERNACIONAL SL |
|
|
Registered Office : |
Lugar Can Cortadellas (Cr C-55. Km 1,8.) 08292 Esparreguera Barcelona |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
|
|
Date of Incorporation : |
|
|
|
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
|
|
Line of Business : |
|
|
|
|
|
|
|
No. of Employees : |
454 |
|
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Poor |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
FRAG COMERCIO INTERNACIONAL SL
CIF/NIF: B60257771
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: FRAG COMERCIO INTERNACIONAL SL
Other names: YES
Current Address: LUGAR CAN CORTADELLAS (CR C-55.
KM 1,8.)
Branches: 91
Telephone number: 937708628
Fax: 937708634
URL: www.misako.es
Corporate e-mail: info@misako.es
Trade Risk
Incidents: YES
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2010): 39.460.703,54 € (Mercantile Register)
Result: -1.625.080,95 €
Total Assets: 25.156.862 €
Share capital: 47.599,20 €
Employees: 454
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 09/02/1993
Activity: Retail sale of footwear, leather
& travel articles
NACE 2009 CODE: 4772
International Operations: Imports and
Exports
Corporate Structure
President:
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2010
Latest act published in BORME: 28/12/2011 Capital enlargement
(IA)
Latest press article: 21/02/2011 EXPANSIÓN DE
CATALUÑA (FINANCIAL DATA)
Bank Entities: There are
TRADE
RISK
Financial situation
|
Exercise:2010 |
Evolution |
|||
|
Treasury |
|
Very degraded |
|
|
|
Indebtedness |
|
Very Heavy |
|
|
|
Profitability |
|
Unfavourable |
|
|
|
Balance |
|
Very Degraded |
|
|
Performance
|
Incidents |
|
Exceptional |
|
Business
Trajectory |
|
With exceptions |
Rating Explanation
Financial situation
•
The company’s financial situation is very
unfavourable.
•
The company’s financial situation evolution has
been negative.
•
The sales evolution has been positive
not the results one, which has been negative.
•
The auditor’s opinion about the latest accounts has
been denied.
Company Structure
•
The company’s capitalization degree determines that
its structure is normal.
•
The company’s 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 recent legal actions or claims
from the Administration against this company.
Accounts Filing
•
The company has had delays in the Accounts Filing
in the Mercantile Register.
Reasons of the last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
20/08/2012 |
Equal |
3 |
•
Variation in the rating system with regards to
legal incidences information. |
|
08/05/2012 |
Equal |
3 |
•
New financial statements have been uploaded. •
Variation in the rating system with regards to
legal incidences information. |
|
07/01/2012 |
Reduction |
3 |
•
New information has been loaded on our systems. |
|
31/12/2011 |
Reduction |
4 |
•
New information has been loaded on our systems. |
|
28/12/2011 |
Increase |
5 |
•
Variation in the rating system with regards to
legal incidences information. |
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: 24 ( Last:18/02/2010 , first:
12/06/2005 )
|
|
|
|
|
With the Social Security: |
16 |
|
|
With the Tax Authorities: |
0 |
|
|
With Other Official bodies: |
8 |
|
AFFECTED BY: No significant element.
Latest Administrative Claims
figures expressed in €
WITH THE SOCIAL SECURITY.
Seizures
|
DATE |
ORGANIZATION |
AMOUNT |
|
17/07/2006 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
BARCELONA |
|
|
12/06/2005 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
|
Enforcement
|
DATE |
ORGANIZATION |
AMOUNT |
|
04/03/2009 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
308,95 |
|
03/02/2009 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
489,13 |
Notifications
|
DATE |
ORGANIZATION |
AMOUNT |
|
10/12/2009 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
220,12 |
|
10/12/2009 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
2.419,20 |
|
10/12/2009 |
CENTRAL TREASURY FOR SOCIAL SECURITY DIRECCION PROVINCIAL DE
TRABAJO Y SEGURIDAD SOCIAL |
265,99 |
WITH OTHER OFFICIAL BODIES.
Seizures
|
DATE |
ORGANIZATION |
AMOUNT |
|
13/11/2009 |
TOWN/ CITY HALL DE BILBAO |
|
|
08/07/2009 |
TOWN/ CITY HALL DE BILBAO |
|
|
25/02/2009 |
TOWN/ CITY HALL DE DONOSTIA-SAN SEBASTIAN |
806,62 |
Enforcement
|
DATE |
ORGANIZATION |
AMOUNT |
|
18/02/2010 |
TOWN/ CITY HALL DE MOTRIL |
240,39 |
|
18/02/2010 |
TOWN/ CITY HALL DE MOTRIL |
739,84 |
Notifications
|
DATE |
ORGANIZATION |
AMOUNT |
|
07/10/2009 |
TOWN/ CITY HALL DE SEVILLA |
227,32 |
|
07/10/2009 |
TOWN/ CITY HALL DE SEVILLA |
335,06 |
Detail of the Latest Administrative Claims
figures expressed in €
Enforcement
WITH OTHER OFFICIAL BODIES.
Phase: ENFORCEMENT
Organization: TOWN/ CITY HALL DE MOTRIL
Concept: Tax on activities
Date of the claim: 18/02/2010
Source: Published in the Gazette of GRANADA, on 05/03/2010, page 184
Amount: 240,39
figures expressed in €
Enforcement
WITH OTHER OFFICIAL BODIES.
Phase: ENFORCEMENT
Organization: TOWN/ CITY HALL DE MOTRIL
Concept: Tax on activities
Date of the claim: 18/02/2010
Source: Published in the Gazette of GRANADA, on 05/03/2010, page 184
Amount: 739,84
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
19/10/2012 15:10:46
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
Figures given in €
|
|
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
17.009.333,34 |
67,61 |
15.696.207,13 |
50,97 |
14.822.646,50 |
53,31 |
|
B) CURRENT ASSETS |
8.147.528,66 |
32,39 |
15.096.991,49 |
49,03 |
12.983.377,87 |
46,69 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
-6.669.552,79 |
-26,51 |
394.719,10 |
1,28 |
1.963.580,10 |
7,06 |
|
B) NON CURRENT LIABILITIES |
8.835.732,88 |
35,12 |
11.647.949,36 |
37,83 |
6.961.717,09 |
25,04 |
|
C) CURRENT LIABILITIES |
22.990.681,91 |
91,39 |
18.750.530,16 |
60,89 |
18.880.727,18 |
67,90 |
Profit and loss account analysis
Figures given in €
|
|
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
39.460.703,54 |
|
36.785.977,13 |
|
33.790.105,26 |
|
|
GROSS MARGIN |
23.037.797,43 |
58,38 |
23.756.550,75 |
64,58 |
23.911.053,61 |
70,76 |
|
EBITDA |
1.118.837,35 |
2,84 |
1.118.445,27 |
3,04 |
2.873.947,10 |
8,51 |
|
EBIT |
-621.723,54 |
-1,58 |
-594.930,05 |
-1,62 |
1.506.611,10 |
4,46 |
|
NET RESULT |
-1.625.080,95 |
-4,12 |
-1.568.861,00 |
-4,26 |
909.863,15 |
2,69 |
|
EFFECTIVE TAX RATE (%) |
-29,75 |
0,00 |
-29,89 |
0,00 |
3,46 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|||
|
A) NON CURRENT ASSETS |
67,61 |
43,56 |
24,06 |
|
|
|
|
|
A) CURRENT ASSETS |
32,39 |
56,44 |
-24,06 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|||
|
A) NET WORTH |
-26,51 |
40,93 |
-67,44 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
35,12 |
18,07 |
17,06 |
|
|
|
|
|
C) CURRENT LIABILITIES |
91,39 |
41,01 |
50,38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
|
SALES |
100,00 |
99,35 |
0,65 |
|
|
|
|
|
GROSS MARGIN |
58,38 |
42,33 |
16,05 |
|
|
|
|
|
EBITDA |
2,84 |
5,34 |
-2,51 |
|
|
|
|
|
EBIT |
-1,58 |
2,37 |
-3,95 |
|
|
|
|
|
NET RESULT |
-4,12 |
1,16 |
-5,28 |
|
|
|
|
Sector Composition
Compared sector (NACE 2009): 4772
Number of companies: 11
Size (sales figure): 7,000,000.00 - 40,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2010
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
-1.625.080,95 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
0,00 |
|
Total of Amounts to be distributed |
-1.625.080,95 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
-1.625.080,95 |
|
|
|
Application total |
-1.625.080,95 |
Auditing
Source: filing of annual financial statement 2010
Auditors’ opinion: DENIED
Auditor: CABRERA MARTINEZ JOSE
Auditing exceptions:
See Note 10 of the accompanying notes indicated
that the result of computer problems
and control, significant
errors were detected both in units and in the
inventory valuation at 31 December 2008 and 2009,
for a
value of EUR 7,770,272.78.
This amount is set to December 31, 2010
against reserves (5,439,190.95 euros) and Credit loss
carryforwards for the year
(2,331,081.83 euros). No financial statements have been restated for 2008 and
2009. Because such errors were not detected in previous audits,
I can not verify the magnitude of the error and satisfy the same
performing alternative procedures.
In my opinion, the
number of errors detected is
significant with respect to the calculation of the results, and this significant regarding the
financial and asset situation of society
Auditing fees: 13.512,00 €
Facts subsequent to the closing
Source: Annual financial report 2010
ADDRESSES
Current Legal Seat Address:
LUGAR CAN CORTADELLAS (CR C-55. KM 1,8.)
08292 ESPARREGUERA BARCELONA
Previous Seat Address:
CALLE CAPONATA 13
08034 BARCELONA
Characteristics of the current address
Type of establishment: office
Local Situation: main
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE EDUARDO DATO, 2 |
01005 |
VITORIA-GASTEIZ |
Araba/Álava |
|
CALLE ZARAMAGA, 1 |
01013 |
VITORIA-GASTEIZ |
Araba/Álava |
|
CALLE ALEMANIA, 10 |
05001 |
AVILA |
Ávila |
|
CALLE SANTA EULALIA, 2 |
06800 |
MERIDA |
Badajoz |
|
CALLE SINDICAT, 43 |
07002 |
PALMA |
Baleares |
|
CALLE CALVET, 38 |
08021 |
BARCELONA |
Barcelona |
|
CALLE CASTELLBISBAL, 41 |
08035 |
BARCELONA |
Barcelona |
|
CALLE CIUTAT D’ASUNCION, 53 |
08030 |
BARCELONA |
Barcelona |
|
AVENIDA DE LA GRANVIA DE L’HOSPITALET, 75 |
08908 |
L’HOSPITALET DE LLOBREGAT |
Barcelona |
|
AVENIDA DIAGONAL, 3 |
08019 |
BARCELONA |
Barcelona |
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
RAMBLA CATALUNYA, 113 |
08008 |
BARCELONA |
Barcelona |
|
CALLE METAL·LURGIA, 17 |
08038 |
BARCELONA |
Barcelona |
|
CALLE RAMON I CAJAL, 9 - DISSEMINAT |
08292 |
ESPARREGUERA |
Barcelona |
|
CALLE MESONES, 54 |
18001 |
GRANADA |
Granada |
|
CALLE CORREO, 12 |
48005 |
BILBAO |
Bizkaia |
CORPORATE
STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Governing body : 5 members (latest change:
01/12/2011) Other Positions : 1 (latest change: 08/07/2011) Auditor : 2 (latest change: 09/03/2006) Operative Board Members : 3 (latest change: 25/10/2012) Non-current positions : 15 (latest change: 01/12/2011) |
|
|
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
TORRES PEREZ, EULALIA |
01/12/2011 |
|
MEMBER OF THE BOARD |
TORRES PEREZ, JOSE MARIA |
28/07/2000 |
|
MEMBER OF THE BOARD |
TORRES PEREZ, GEMMA |
01/12/2011 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
BAIGORRI PUERTO, MARCOS |
09/03/2006 |
|
AUDITOR |
CABRERA MARTINEZ, JOSE |
09/03/2006 |
Board members remuneration
Source: Annual
financial report 2010
Board
members remuneration: 158.990,57 €
|
POSITION |
NAME AND SURNAME |
|
Manager |
TORRES PEREZ, EULALIA |
|
Human Resources Director |
DE LAS HERAS, MARTA |
|
Commercial Director |
GARCIA BRASSO, ALEX |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GARCIA DELGADO JOSE LUIS |
|
48,08 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
CATNAUS SL |
B62074604 |
15,38 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
TORRES PEREZ GEMMA |
|
11,54 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
TORRES PEREZ JOSE MARIA |
|
11,54 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
TORRES PEREZ EULALIA |
|
11,54 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
GARCIA BRASSO ALEX |
|
1,92 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
COLL MARTORI MARIO |
|
Major. |
EXPANSIÓN DE CATALUÑA |
13/12/2010 |
|
|
TARRES MONTSE |
|
Indef. |
EXPANSIÓN DE CATALUÑA |
13/12/2010 |
|
|
COLL MARTORI LAURA |
|
Indef. |
EXPANSIÓN DE CATALUÑA |
13/12/2010 |
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”EULALIA TORRES PEREZ”
|
COMPANY |
POSITION |
PROVINCE |
|
CATVIVI SL |
Administrador Único |
BARCELONA |
|
CATNAUS SL |
Administrador Único |
BARCELONA |
In case you need more information you can request:Board Members
Monitoring
BUSINESS
INFORMATION
Incorporation date: 09/02/1993
Establishment date: 01/01/1977
Founder’s Name: COLL DIEZ MARIO, TARRE MONTSERRAT
Code: 1651600
Activity: Retail sale of footwear, leather & travel
articles
NACE 2009 CODE: 4772
NACE 2009 Activity: Retail sale of footwear and leather goods in
specialised stores
Business: IMPORTACION. EXPORTACION. COMPRA VENTA Y
COMERCIALIZACION. EN GENERAL DE CUALQUIERA ARTICULOS ELABORADOS TOTAL O
PARCIALMENTE EN PIEL, RETALES Y TROZOS PARA LA FABRICACION DE BOLSOS, CARTERAS
Y COMPLEMENTOS DEL VESTIR, E
Latest employees figure: 454 (2010)
% of fixed employees: 100,00%
% of men: 4,41%
% of women: 95,59%
Employees evolution
|
|
|
|
Source: Annual financial report 2010
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
20 |
434 |
PURCHASES
Import Percentage: 85%
Imports from: RESTO DEL MUNDO
National Distribution: 15%
SALES
Export Percentage: 10%
National Distribution: 90%
• 100% of its turnover corresponds
to trade leather goods, leather and leather goods.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
CAIXABANK, S.A. |
0849 |
C. MILANESAT, 10-12 |
BARCELONA |
Barcelona |
|
BANCO SANTANDER, S.A. |
|
|
ESPARREGUERA |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
ESPARREGUERA |
|
|
BANCO DE SABADELL, S.A. |
|
|
BARCELONA |
|
|
BANCO ESPAÑOL DE CREDITO, S.A. |
|
|
ESPARREGUERA |
|
Discount facilities: 0
Credit policy: 7
Mortgage loan: 0
Loans with no real security: 28
|
|
|
|
Debt type: Credit policy |
Granted limit:60.000,00 € Used limit:54.631,46 € Available limit:5.368,54
€ Source: Filed
Accounts (2010) |
|
|
|
|
Debt type: Credit policy |
Granted limit:150.000,00 € Used limit:148.927,64 € Available limit:1.072,36
€ Source: Filed
Accounts (2010) |
|
|
|
|
Debt type: Credit policy |
Granted limit:150.000,00 € Used limit:99.106,47 € Available limit:50.893,53
€ Source: Filed
Accounts (2010) |
|
|
|
|
Debt type: Credit policy |
Granted limit:300.000,00 € Used limit:286.852,21 € Available limit:13.147,79
€ Source: Filed
Accounts (2010) |
|
|
|
|
Debt type: Credit policy |
Granted limit:850.000,00 € Used limit:850.000,00 € Available limit:0,00 € Source: Filed
Accounts (2010) |
|
|
|
Brand name: MI SA KO (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 29/02/2012
Brand name: MISAKO (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 08/09/2009
Brand name: SHOPTIMISM (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 18/03/2008
Brand name: MI SAKO (Valid)
Type: JOINT Scope: NATIONAL Date: 14/05/2007
Brand name: MSK (Valid)
Type: JOINT Scope: NATIONAL Date: 13/04/2007
LEGAL STRUCTURE
Constitution Data
Register Date: 09/02/1993
Register town: Barcelona
Announcement number: 134541
Share capital: 6.010,12 €
Legal form: Limited Liability Company
Share capital: 47.599,20 €
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: 19 (Last: 16/12/2011, first:
13/04/1993)
Acts on capital: 4 (Last: 28/12/2011, first:
25/03/2009)
Acts on creation: 1 (Last: 13/04/1993)
Acts on filed accounts: 17 (Last: 21/09/2010, first:
03/10/1994)
Acts on identification: 3 (Last: 07/11/2007, first:
21/03/1994)
Acts on Information: 6 (Last: 16/12/2011, first:
24/05/1996)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
|
Capital enlargement (IA) |
28/12/2011 |
518271 |
Barcelona |
||
|
|
Register Data: Volume 42682, Folio 53, Section 8, Sheet 86621, Inscription I/A
20 (16/12/2011) Publication Data:
Register Barcelona, Gazette 245, Page
72515, Announcement 518271 (28/12/2011) |
||||
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Modification of the Articles of Association |
16/12/2011 |
499031 |
Barcelona |
|
Appointments |
16/12/2011 |
499031 |
Barcelona |
|
Resignations |
16/12/2011 |
499031 |
Barcelona |
|
Resignations |
26/08/2011 |
352321 |
Barcelona |
|
Other concepts |
25/08/2011 |
350341 |
Barcelona |
|
Appointments |
20/07/2011 |
303448 |
Barcelona |
|
Modification of the Articles of Association |
14/06/2011 |
253732 |
Barcelona |
|
Capital enlargement (IA) |
19/05/2011 |
212931 |
Barcelona |
|
Capital enlargement (IA) |
29/03/2011 |
139175 |
Barcelona |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 9 (Last: 13/12/2010, first: 16/04/2007)
Informative data: 0
Financial Information: 1 (Last: 21/02/2011)
Negative information: 0
Business lines: 0
Historical press releases: 2 (Last: 23/11/2006, first:
25/05/2006)
Latest press article published
21/02/2011 EXPANSIÓN DE CATALUÑA - FINANCIAL
DATA
The two families owning MISAKO
chain bags, Torres
García and have
completed a capital increase of 2.7 billion euros
and prepare another injection of equal or greater amount,
to be made before April. The CEO of the chain, José
Andrés, explained that the group's plans focus on overseas growth. MISAKO
wants to open 25 stores in 2011 in Italy, France,
Germany and Belgium. The group closed 2010 with a turnover of 40 million, up 8% from the previous year. The percentage of sales in the Spanish market is still 90% of their income and the intent of the chain is that overseas
sales reaching as
high as 50%.
13/12/2010 EXPANSIÓN DE CATALUÑA - SHAREHOLDERS
AND HOLDINGS
Mario and Montserrat Tarré Coll, who founded
the chain in 1997 MISAKO bags with
families and Torres Garcia, have sold their 33% stake to the other
two partners.
The CEO of the firm., José Andrés, explained that the firm's capital is now divided 50% between the family and
the family García Torres,
although the day to day business is managed by the Garcia family.
MISAKO, currently has a network of 167 stores in nine countries,
of which 115 are owned and the rest franchised, closed
2010 with a turnover of about 8% higher than in 2009 and will reach 39
million. It also has more than 500 employees.
06/02/2010 EXPANSIÓN - SHAREHOLDERS AND HOLDINGS
MARIO COLL, FOUNDER MISAKO,
TRADING WITH FAMILY
AND TORRES GARCIA
acquiring the CIA., Which controls 33%. CAPITAL MISAKO
Partition between COLL AND FAMILIES AND TORRES
GARCIA. Sources close to the founder explains that the entrepreneur has joined a private equity group to launch a bid on the firm. The intention is to control the management and DAR ENTRY TO SHAREHOLDERS
FINANCIAL PARTNER. Meanwhile, MARIO COLL
preparing to launch a new chain of
ACCESSORIES FOR WHAT
HAS RENTED SEVERAL
LOCAL IN BARCELONA. If the supply of MISAKO prosperous COLL USED
TO ENHANCE THE LOCAL
NETWORK MISAKO.
04/06/2009 EXPANSIÓN DE CATALUÑA - SHAREHOLDERS
AND HOLDINGS
FAMILY COLL, which launched MISAKO,
has left the CIA MANAGEMENT. That has been acquired by the other two partners that control group, families GARCIA AND
TORRES, FOUNDING OF
STRADIVARIUS. MISAKO HAS BECOME ONE OF THE ACCESSORIES
KEY CHAINS OF
SPAIN, with a turnover of 36 MM. Euros in 2008. MARIO
AND MONTSERRAT TARRE
COLL, which has also left the group,
founded Misako in 1977. ADDITION OF
COLL, IN STOCKHOLDERS also included FAMILIES AND
TORRES GARCIA. So
far, the MAINTAIN YOUR COLL stake in the company, which won 3 MM. DE
euros last year. MISAKO has a network of 149 STORES.
04/06/2009 EXPANSIÓN DE CATALUÑA - GOVERNING
BODIES
MARIO IS GILL left office
as CEO of MISAKO. The new CEO of the company will ALEX GARCIA, as
explained, ANDRES BEL, DIRECTOR GENERAL OF
THE SDAD.
Complementary Information
Financial Information
The stock closed at
31/12/2008 (Tank 2008) is available but there is data in the new financial statements presented incorrectly.
FINANCIAL
INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Mercantile Register file of the legal address of
the Company and dated 08/05/2012.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
17.009.333,34 |
67,61 |
15.696.207,13 |
50,97 |
14.822.646,50 |
53,31 |
|
I. Intangible assets |
1.599.912,13 |
6,36 |
1.802.845,57 |
5,85 |
2.116.276,13 |
7,61 |
|
3. Patents, licences , trademarks and
similars |
4.626,81 |
0,02 |
6.875,49 |
0,02 |
9.124,17 |
0,03 |
|
5. Software |
2.899,13 |
0,01 |
2.899,13 |
0,01 |
3.605,13 |
0,01 |
|
7. Other intangible assets |
1.592.386,19 |
6,33 |
1.793.070,95 |
5,82 |
2.103.546,83 |
7,57 |
|
II. Tangible fixed assets |
9.776.246,42 |
38,86 |
11.282.952,36 |
36,64 |
10.890.262,24 |
39,17 |
|
2. Technical fittings and other tangible
assets |
9.776.246,42 |
38,86 |
11.282.952,36 |
36,64 |
10.890.262,24 |
39,17 |
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated
and affiliated companies |
|
|
|
|
|
|
|
V. Long Term Financial Investments |
1.918.664,78 |
7,63 |
1.927.444,98 |
6,26 |
1.816.108,13 |
6,53 |
|
2. Credits to third parties |
17.180,00 |
0,07 |
|
|
|
|
|
5. Other financial assets |
1.901.484,78 |
7,56 |
1.927.444,98 |
6,26 |
1.816.108,13 |
6,53 |
|
VI. Assets by deferred taxes |
3.714.510,01 |
14,77 |
682.964,22 |
2,22 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
8.147.528,66 |
32,39 |
15.096.991,49 |
49,03 |
12.983.377,87 |
46,69 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
6.474.651,71 |
25,74 |
13.671.902,24 |
44,40 |
11.783.389,16 |
42,38 |
|
1. Goods available for sale |
6.323.751,71 |
25,14 |
13.401.002,24 |
43,52 |
11.783.389,16 |
42,38 |
|
2. Raw material inventory |
900,00 |
0,00 |
900,00 |
0,00 |
|
|
|
6. Pre-payments to suppliers |
150.000,00 |
0,60 |
270.000,00 |
0,88 |
|
|
|
III. Trade Debtors and other receivable
accounts |
1.228.366,21 |
4,88 |
917.866,29 |
2,98 |
859.712,49 |
3,09 |
|
1. Clients |
1.228.363,33 |
4,88 |
917.863,41 |
2,98 |
776.439,54 |
2,79 |
|
b) Clients for sales and
short term services rendering |
1.228.363,33 |
4,88 |
917.863,41 |
2,98 |
776.439,54 |
2,79 |
|
6. Other credits with the Public
Administrations |
2,88 |
0,00 |
2,88 |
0,00 |
83.272,95 |
0,30 |
|
IV. Short term investments in associated
and affiliated companies |
|
|
|
|
|
|
|
V. Short term financial investments |
|
|
|
|
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
444.510,74 |
1,77 |
507.222,96 |
1,65 |
340.276,22 |
1,22 |
|
1. Treasury |
444.510,74 |
1,77 |
507.222,96 |
1,65 |
340.276,22 |
1,22 |
|
TOTAL ASSETS (A + B) |
25.156.862,00 |
100,00 |
30.793.198,62 |
100,00 |
27.806.024,37 |
100,00 |
Net Worth and Liabilities
Figures given in €
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
|
A) NET WORTH |
-6.669.552,79 |
-26,51 |
394.719,10 |
1,28 |
1.963.580,10 |
7,06 |
|
A-1) Equity |
-6.669.552,79 |
-26,51 |
394.719,10 |
1,28 |
1.963.580,10 |
7,06 |
|
I. Capital |
6.250,53 |
0,02 |
6.250,53 |
0,02 |
6.250,53 |
0,02 |
|
1. Authorized capital |
6.250,53 |
0,02 |
6.250,53 |
0,02 |
6.250,53 |
0,02 |
|
II. Issue premium |
865.217,00 |
3,44 |
865.217,00 |
2,81 |
865.217,00 |
3,11 |
|
III. Reserves |
1.250,10 |
0,00 |
1.092.112,57 |
3,55 |
182.249,42 |
0,66 |
|
1. Legal and statutory |
1.250,10 |
0,00 |
1.250,10 |
0,00 |
1.250,10 |
0,00 |
|
2. Other funds |
|
|
1.090.862,47 |
3,54 |
180.999,32 |
0,65 |
|
IV. (Net worth own shares and
participations) |
|
|
|
|
|
|
|
V. Results from previous years |
-5.917.189,47 |
-23,52 |
|
|
|
|
|
2. (Prior years losses) |
-5.917.189,47 |
-23,52 |
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-1.625.080,95 |
-6,46 |
-1.568.861,00 |
-5,09 |
909.863,15 |
3,27 |
|
VIII. (Interim dividend) |
|
|
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
|
|
|
|
|
|
|
I. Financial assets available for sale |
|
|
|
|
|
|
|
II. Coverage operations |
|
|
|
|
|
|
|
III. Non-current assets and related
liabilities, maintained for sale |
|
|
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
|
|
V. Other |
|
|
|
|
|
|
|
A-3) Received legacies, grants and
subventions |
|
|
|
|
|
|
|
B) NON CURRENT LIABILITIES |
8.835.732,88 |
35,12 |
11.647.949,36 |
37,83 |
6.961.717,09 |
25,04 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
8.792.872,39 |
34,95 |
11.617.459,72 |
37,73 |
6.945.234,83 |
24,98 |
|
2. Debts with bank entities |
8.705.923,11 |
34,61 |
9.467.228,62 |
30,74 |
6.809.253,58 |
24,49 |
|
3. Financial leasing creditors |
20.282,61 |
0,08 |
103.831,10 |
0,34 |
116.253,85 |
0,42 |
|
5. Other financial liabilities |
66.666,67 |
0,27 |
2.046.400,00 |
6,65 |
19.727,40 |
0,07 |
|
III. Long term debts with associated and
affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
42.860,49 |
0,17 |
30.489,64 |
0,10 |
16.482,26 |
0,06 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
22.990.681,91 |
91,39 |
18.750.530,16 |
60,89 |
18.880.727,18 |
67,90 |
|
I. Liabilities related with non-current
assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
17.341.093,53 |
68,93 |
13.026.428,49 |
42,30 |
13.282.868,95 |
47,77 |
|
2. Debts with bank entities |
14.508.563,23 |
57,67 |
12.386.829,84 |
40,23 |
12.374.049,57 |
44,50 |
|
3. Financial leasing creditors |
80.395,14 |
0,32 |
127.972,88 |
0,42 |
166.167,34 |
0,60 |
|
5. Other financial liabilities |
2.752.135,16 |
10,94 |
511.625,77 |
1,66 |
742.652,04 |
2,67 |
|
IV. Short term debts with associated and
affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable
accounts |
5.571.082,66 |
22,15 |
5.601.618,42 |
18,19 |
5.568.447,97 |
20,03 |
|
1. Suppliers |
3.253.692,63 |
12,93 |
3.947.814,41 |
12,82 |
4.731.381,47 |
17,02 |
|
b) Short term suppliers |
3.253.692,63 |
12,93 |
3.947.814,41 |
12,82 |
4.731.381,47 |
17,02 |
|
3. Different creditors |
521.156,90 |
2,07 |
660.920,16 |
2,15 |
410.220,00 |
1,48 |
|
4. Staff (pending remunerations) |
4.066,89 |
0,02 |
35.974,07 |
0,12 |
35.454,35 |
0,13 |
|
5. Liabilities by current taxes |
|
|
|
|
95.069,64 |
0,34 |
|
6. Other debts with Public Administrations |
1.792.166,24 |
7,12 |
956.909,78 |
3,11 |
296.322,51 |
1,07 |
|
VI. Short term periodifications |
78.505,72 |
0,31 |
122.483,25 |
0,40 |
29.410,26 |
0,11 |
|
VII. Short term debts with special
characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B +
C) |
25.156.862,00 |
100,00 |
30.793.198,62 |
100,00 |
27.806.024,37 |
100,00 |
PROFIT AND LOSS
ACCOUNT
Figures given in €
|
|
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
39.460.703,54 |
100,00 |
36.785.977,13 |
100,00 |
33.790.105,26 |
100,00 |
|
A) Sales |
39.192.587,22 |
99,32 |
36.697.063,34 |
99,76 |
33.790.105,26 |
100,00 |
|
b) Services provided |
268.116,32 |
0,68 |
88.913,79 |
0,24 |
|
|
|
2. Variation in stocks of finished goods
and work in progress |
|
|
|
|
|
|
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-16.422.906,11 |
-41,62 |
-13.030.058,13 |
-35,42 |
-9.880.051,65 |
-29,24 |
|
a) Material consumed |
-16.422.906,11 |
-41,62 |
-13.030.058,13 |
-35,42 |
-9.880.051,65 |
-29,24 |
|
5. Other operating income |
|
|
631,75 |
0,00 |
1.000,00 |
0,00 |
|
a) Other incomes |
|
|
631,75 |
0,00 |
1.000,00 |
0,00 |
|
6. Labour cost |
-8.812.539,82 |
-22,33 |
-9.123.077,22 |
-24,80 |
-8.311.968,59 |
-24,60 |
|
a) Wages and similar expenses |
-6.851.746,35 |
-17,36 |
-7.157.411,08 |
-19,46 |
-6.484.434,43 |
-19,19 |
|
b) Social costs |
-1.960.793,47 |
-4,97 |
-1.965.666,14 |
-5,34 |
-1.827.534,16 |
-5,41 |
|
7. Other operating costs |
-13.075.957,84 |
-33,14 |
-13.503.506,69 |
-36,71 |
-12.746.907,80 |
-37,72 |
|
a) External services |
-11.508.857,28 |
-29,17 |
-12.185.005,34 |
-33,12 |
-11.608.715,54 |
-34,35 |
|
b) Taxes |
-1.567.100,56 |
-3,97 |
-1.318.501,35 |
-3,58 |
-1.138.192,26 |
-3,37 |
|
8. Amortization of fixed assets |
-1.740.560,89 |
-4,41 |
-1.713.375,32 |
-4,66 |
-1.367.336,00 |
-4,05 |
|
9. Allocation of subventions on non
financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed
assets disposal |
|
|
|
|
|
|
|
12. Negative difference of business
combinations |
|
|
|
|
|
|
|
13. Other results |
-30.462,42 |
-0,08 |
-11.521,57 |
-0,03 |
21.769,88 |
0,06 |
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 +
6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) |
-621.723,54 |
-1,58 |
-594.930,05 |
-1,62 |
1.506.611,10 |
4,46 |
|
14. Financial income |
|
|
314,01 |
0,00 |
12,89 |
0,00 |
|
b) From negotiable values and other financial
instruments |
|
|
314,01 |
0,00 |
12,89 |
0,00 |
|
b 2) From third parties |
|
|
314,01 |
0,00 |
12,89 |
0,00 |
|
15. Financial expenses |
-1.691.450,52 |
-4,29 |
-1.643.201,80 |
-4,47 |
-564.168,47 |
-1,67 |
|
a) For debts with associated and
affiliated companies |
|
|
|
|
-10.388,37 |
-0,03 |
|
b) For debts with third parties |
-1.691.450,52 |
-4,29 |
-1.643.201,80 |
-4,47 |
-553.780,10 |
-1,64 |
|
16. Reasonable value variation on
financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
|
|
|
|
|
|
|
18. Deterioration and result for disposal
of financial instruments |
|
|
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 +
18 + 19) |
-1.691.450,52 |
-4,29 |
-1.642.887,79 |
-4,47 |
-564.155,58 |
-1,67 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-2.313.174,06 |
-5,86 |
-2.237.817,84 |
-6,08 |
942.455,52 |
2,79 |
|
20. Taxes on profits |
688.093,11 |
1,74 |
668.956,84 |
1,82 |
-32.592,37 |
-0,10 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED
OPERATIONS (A.3 + 20) |
-1.625.080,95 |
-4,12 |
-1.568.861,00 |
-4,26 |
909.863,15 |
2,69 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from
discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-1.625.080,95 |
-4,12 |
-1.568.861,00 |
-4,26 |
909.863,15 |
2,69 |
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2010 (12) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-1.625.080,95 |
-1.568.861,00 |
909.863,15 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO
NET WORTH |
|
|
|
|
I. For valuation of financial instruments |
|
|
|
|
II. Cash flow coverage |
|
|
|
|
III. Received legacies, grants and
subventions |
|
|
|
|
IV. For actuarial profits and losses and
other adjustments |
|
|
|
|
V. Non-current assets and related liabilities,
maintained for sale |
|
|
|
|
VI. Conversion differences |
|
|
|
|
VII. Tax effect |
|
|
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED
DIRECTLY TO NET WORTH (I + II + III + IV +V+VI+VII) |
|
|
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
|
VIII. For valuation of financial
instruments |
|
|
|
|
IX. Cash flow coverage |
|
|
|
|
X. Received legacies, grants and
subventions |
|
|
|
|
XI. Non-current assets and related
liabilities, maintained for sale |
|
|
|
|
XII. Conversion differences |
|
|
|
|
XIII. Tax effect |
|
|
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS
ACCOUNT (VIII + IX + X + XI+ XII+ XIII) |
|
|
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A +
B + C) |
-1.625.080,95 |
-1.568.861,00 |
909.863,15 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
RESULTS FROM PREVIOUS EXERCISES |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
|
|
|
I. Adjustments by change of criteria in
the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2008) |
|
|
|
|
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
6.250,53 |
865.217,00 |
1.024.704,94 |
|
|
I. Adjustments by change of criteria in
the exercise (2008) |
|
|
-842.455,52 |
|
|
II. Adjustments by errors in the exercise
(2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2009) |
6.250,53 |
865.217,00 |
182.249,42 |
|
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
909.863,15 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
6.250,53 |
865.217,00 |
1.250,10 |
1.090.862,47 |
|
I. Adjustments by change of criteria in the
exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2009) |
|
|
|
-5.439.190,93 |
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2010) |
6.250,53 |
865.217,00 |
1.250,10 |
-4.348.328,46 |
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
-1.568.861,01 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
6.250,53 |
865.217,00 |
1.250,10 |
-5.917.189,47 |
|
NET WORTH CHANGES ( 3 /3) |
EXERCISE RESULT |
TOTAL |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
|
|
|
I. Adjustments by change of criteria in
the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2008) |
|
|
|
|
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
909.863,15 |
2.806.035,62 |
|
|
|
I. Adjustments by change of criteria in
the exercise (2008) |
|
-842.455,52 |
|
|
|
II. Adjustments by errors in the exercise
(2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2009) |
909.863,15 |
1.963.580,10 |
|
|
|
I. Total recognized income and expenses |
-1.568.861,00 |
-1.568.861,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
-909.863,15 |
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-1.568.861,00 |
394.719,10 |
|
|
|
I. Adjustments by change of criteria in
the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2009) |
|
-5.439.190,93 |
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2010) |
-1.568.861,00 |
-5.044.471,83 |
|
|
|
I. Total recognized income and expenses |
-1.625.080,95 |
-1.625.080,95 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
1.568.861,00 |
-0,01 |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
-1.625.080,95 |
-6.669.552,79 |
|
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2010 (12) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING
ACTIVITIES |
|
|
|
|
1. exercise result before taxes |
-2.313.174,06 |
-2.237.817,84 |
942.455,52 |
|
2. Results adjustments |
3.432.011,52 |
3.356.262,79 |
1.931.491,58 |
|
a) Amortization of fixed assets (+) |
1.740.561,00 |
1.713.375,00 |
1.367.336,00 |
|
g) Financial income (-) |
|
-314,01 |
-12,89 |
|
f) Financial expenses (+) |
1.691.450,52 |
1.643.201,80 |
564.168,47 |
|
3. Changes in current capital |
466.966,50 |
-1.696.862,63 |
-4.355.760,82 |
|
a) Stocks (+/-) |
-573.022,25 |
-1.888.513,08 |
-4.688.959,82 |
|
b) Debtors and other receivable accounts
(+/-) |
-310.499,92 |
62.958,85 |
788.715,80 |
|
d) Creditors and other payable accounts
(+/-) |
1.394.466,19 |
35.618,60 |
-418.584,81 |
|
e) Other current liabilities (+/-) |
-43.977,52 |
93.073,00 |
-36.931,99 |
|
4. Other cash flow coming from operating
activities |
-1.691.450,52 |
-1.642.887,79 |
-564.155,58 |
|
a) Interests payments (-) |
-1.691.450,52 |
-1.643.201,80 |
-564.168,47 |
|
c) Interests collections (+) |
|
314,01 |
12,89 |
|
5. Cash flow coming from operating
activities (1 + 2 + 3 + 4) |
-105.646,56 |
-2.221.305,47 |
-2.045.969,30 |
|
B) CASH FLOW COMING FROM INVESTING
ACTIVITIES |
|
|
|
|
6. Investment payments (-) |
-1.447.143,75 |
-1.954.249,85 |
-5.479.016,31 |
|
b) Intangible assets |
|
|
-201.731,02 |
|
c) Tangible assets |
-1.447.143,75 |
-1.896.913,00 |
-4.796.867,15 |
|
e) Other financial assets |
|
-57.336,85 |
-480.418,14 |
|
7. Disinvestment collections (+) |
|
|
|
|
8. Cash Flow in investment activities (6 +
7) |
-1.447.143,75 |
-1.954.249,85 |
-5.479.016,31 |
|
C) CASH FLOW COMING FROM FINANCING
ACTIVITIES |
|
|
|
|
9. Net worth instruments collections and
payments |
|
|
|
|
10. Financial liabilities instruments
collections and payments |
1.490.078,07 |
4.342.502,06 |
7.785.647,47 |
|
a) Issue |
146.234.594,60 |
58.347.470,13 |
134.349.685,00 |
|
2. Debts with bank
entities (+) |
145.638.678,60 |
54.839.579,13 |
133.264.928,00 |
|
5. Other debts (+) |
595.916,00 |
3.507.891,00 |
1.084.757,00 |
|
b) Return and amortization of |
-144.744.516,53 |
-54.004.968,07 |
-126.564.037,53 |
|
2. Debts with bank
entities (-) |
-144.278.250,42 |
-52.168.823,67 |
-126.162.911,40 |
|
4. Debts with special
characteristics (-) |
|
|
-401.126,13 |
|
5. Other debts (-) |
-466.266,11 |
-1.836.144,40 |
|
|
11. Payments for dividends and
remunerations of other net worth instruments |
|
|
-310.958,56 |
|
a) Dividends (-) |
|
|
-310.958,56 |
|
12. Cash Flow in financing activities (9 +
10 + 11) |
1.490.078,07 |
4.342.502,06 |
7.474.688,91 |
|
D) Exchange rate variations effect |
|
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE /
REDUCTION (5 + 8 + 12 + D) |
-62.712,24 |
166.946,74 |
-50.296,70 |
|
Cash or equivalents at the beginning of
the exercise |
507.222,96 |
340.276,22 |
390.572,92 |
|
Cash or equivalents at the end of the
exercise |
444.510,74 |
507.222,96 |
340.276,22 |
RATIOS
|
|
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
-14.843.153,25 |
-306,27 |
-3.653.538,67 |
38,05 |
-5.897.349,31 |
|
Working capital ratio |
-0,59 |
-391,67 |
-0,12 |
42,86 |
-0,21 |
|
Soundness Ratio |
-0,39 |
-1.400,00 |
0,02 |
-76,92 |
0,13 |
|
Average Collection Period (days) |
11 |
24,00 |
9 |
0,00 |
9 |
|
Average Payment Period (days) |
68 |
-10,43 |
76 |
-14,23 |
89 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
35,44 |
-55,99 |
80,52 |
17,09 |
68,76 |
|
Quick Ratio (%) |
1,93 |
-28,78 |
2,70 |
50,56 |
1,80 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
103,88 |
29,80 |
80,03 |
10,01 |
72,75 |
|
External Financing Average Cost |
0,06 |
0,00 |
0,07 |
133,33 |
0,03 |
|
Debt Service Coverage |
-247,37 |
-2.130,57 |
-11,09 |
-12,13 |
-9,89 |
|
Interest Coverage |
-0,37 |
-2,78 |
-0,36 |
-113,48 |
2,67 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
-0,27 |
95,53 |
-6,04 |
0,17 |
-6,06 |
|
Auto financing generated by Assets (%) |
-0,42 |
94,17 |
-7,21 |
2,04 |
-7,36 |
|
Breakdown Point |
0,98 |
0,00 |
0,98 |
-6,67 |
1,05 |
|
Average Sales Volume per Employee |
86.917,85 |
21,92 |
71.290,65 |
3,38 |
68.959,40 |
|
Average Cost per Employee |
19.410,88 |
9,79 |
17.680,38 |
4,23 |
16.963,20 |
|
Assets Turnover |
1,57 |
30,83 |
1,20 |
-1,64 |
1,22 |
|
Inventory Turnover (days) |
142 |
-62,44 |
378 |
-12,07 |
429 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-2,47 |
-27,98 |
-1,93 |
-135,61 |
5,42 |
|
Operating Profitability (%) |
4,45 |
22,59 |
3,63 |
-64,89 |
10,34 |
|
Return on Equity (ROE) (%) |
34,68 |
106,12 |
-566,94 |
-1.281,12 |
48,00 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
67,61 |
43,56 |
24,06 |
|
A) CURRENT ASSETS |
32,39 |
56,44 |
-24,06 |
|
LIABILITIES |
|||
|
A) NET WORTH |
-26,51 |
40,93 |
-67,44 |
|
B) NON CURRENT LIABILITIES |
35,12 |
18,07 |
17,06 |
|
C) CURRENT LIABILITIES |
91,39 |
41,01 |
50,38 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
100,00 |
99,35 |
0,65 |
|
Other operating income |
|
0,65 |
|
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-41,62 |
-57,74 |
16,12 |
|
Variation in stocks of finished goods and work
in progress |
|
0,07 |
|
|
GROSS MARGIN |
58,38 |
42,33 |
16,05 |
|
Other operating costs |
-33,14 |
-18,34 |
-14,80 |
|
Labour cost |
-22,33 |
-18,30 |
-4,03 |
|
GROSS OPERATING RESULT |
2,91 |
5,69 |
-2,78 |
|
Amortization of fixed assets |
-4,41 |
-3,29 |
-1,12 |
|
Deterioration and result for fixed assets
disposal |
|
-0,09 |
|
|
Other expenses / income |
|
0,06 |
|
|
NET OPERATING RESULT |
-1,58 |
2,37 |
-3,95 |
|
Financial result |
-4,29 |
-0,90 |
-3,40 |
|
RESULT BEFORE TAX |
-5,86 |
1,48 |
-7,34 |
|
Taxes on profits |
1,74 |
-0,32 |
2,06 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
-4,12 |
1,16 |
-5,28 |
|
Exercise result coming from discontinued
operations net of taxes |
|
0,00 |
|
|
NET RESULT |
-4,12 |
1,16 |
-5,28 |
|
Amortization of fixed assets |
-4,41 |
-3,29 |
-1,12 |
|
Deterioration and provisions variation |
-4,41 |
0,32 |
-4,73 |
|
|
4,70 |
4,13 |
0,57 |
Main Ratios
Figures given in €
|
|
COMPANY (2010) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
-14.843.153,25 |
-447.421,40 |
1.310.557,07 |
3.367.355,26 |
|
Working capital ratio |
-0,59 |
-0,11 |
0,13 |
0,39 |
|
Soundness Ratio |
-0,39 |
0,59 |
0,98 |
2,04 |
|
Average Collection Period (days) |
11 |
2 |
3 |
51 |
|
Average Payment Period (days) |
68 |
55 |
70 |
104 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
35,44 |
73,24 |
126,92 |
190,21 |
|
Quick Ratio (%) |
1,93 |
4,33 |
9,70 |
20,26 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
103,88 |
16,18 |
26,58 |
34,38 |
|
External Financing Average Cost |
0,06 |
0,04 |
0,05 |
0,07 |
|
Debt Service Coverage |
-247,37 |
1,55 |
4,66 |
8,55 |
|
Interest Coverage |
-0,37 |
0,97 |
1,47 |
8,41 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
-0,27 |
2,93 |
3,66 |
5,67 |
|
Auto financing generated by Assets (%) |
-0,42 |
4,97 |
5,57 |
10,42 |
|
Breakdown Point |
0,98 |
1,01 |
1,02 |
1,04 |
|
Average Sales Volume per Employee |
86.917,85 |
92.395,61 |
99.172,47 |
136.747,75 |
|
Average Cost per Employee |
19.410,88 |
17.252,46 |
19.937,60 |
31.240,24 |
|
Assets Turnover |
1,57 |
1,30 |
1,78 |
2,61 |
|
Inventory Turnover (days) |
142 |
50 |
145 |
230 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-2,47 |
2,04 |
3,25 |
5,46 |
|
Operating Profitability (%) |
4,45 |
5,90 |
7,72 |
13,37 |
|
Return on Equity (ROE) (%) |
34,68 |
0,22 |
2,93 |
10,71 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.81 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.50 |
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 SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.