MIRA
INFORM REPORT
|
Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
TERNIUM INTERNACIONAL ESPAÑA SL |
|
|
|
|
Registered Office : |
|
|
|
|
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.07.2001 |
|
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Legal Form : |
Sole-partnered Limited Liability Company |
|
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Line of Business : |
Wholesale of iron & steel |
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|
No. of Employees : |
5 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 |
Identification
Current
Business Name: TERNIUM
INTERNACIONAL ESPAÑA SL
Other
names: YES
Current
Address: CALLE DANIEL BALACIART (ENTRESUELO D), 6
Telephone
number: 963392702 Fax: 963392469
URL: www.ternium.com
Trade Risk
Credit
appraisal: 6.000.000,00 €
Incidents: NO
R.A.I.: NO
Financial Information
Balance
sheet latest sales (2011): 177.515.434,41 € (Mercantile Register)
Result: 156.377.726,8 €
Total
Assets: 2.575.114.575,9 €
Share
capital: 115.412.067,54 €
Employees: 5
Listed on a Stock
Exchange: NO
Commercial Information
Incorporation
date: 20/07/2001
Activity: Wholesale of iron & steel
NACE
2009 CODE: 4672
International
Operations: Imports and Exports
Corporate Structure
President:
Parent
Company:
Participations: 7
Other Complementary Information
Latest
filed accounts in the Mercantile Register: 2011
Latest
act published in BORME: 07/08/2012 Re-elections
Latest
press article: 28/12/2005 LEVANTE
EL MERCANTIL VALENCIANO (LEGAL ANNOUNCEMENTS)
Bank
Entities: There are
The
date when this report was last updated is 24/09/2012.
The
information contained in this report has been investigated and contrasted
on 24/09/2012
Rating Informa Explanation
Financial
situation
•
The company’s financial situation
is good.
•
The company’s financial situation evolution
has been positive.
•
The sales evolution and results has
been positive.
•
The auditor’s opinion about the latest
accounts has been favourable.
Company
Structure
•
The company’s capitalization degree
determines that its structure is normal.
•
The company’s size is
big 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
|
DATE |
CHANGE |
RESULTING
NOTE |
EVENT |
|
12/07/2012 |
Increase |
18 |
•
New financial statements have been
uploaded. |
|
28/09/2011 |
Increase |
13 |
•
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 
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
18/09/2012
14:09:12
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 €
|
|
31/12/2011 (12) BALANCE SHEET |
% ASSETS |
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
2.570.574.885,91 |
99,82 |
2.482.202.624,68 |
99,73 |
2.418.728.216,57 |
99,80 |
|
B) CURRENT ASSETS |
4.539.689,99 |
0,18 |
6.683.242,79 |
0,27 |
4.901.312,84 |
0,20 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
2.535.175.007,98 |
98,45 |
2.420.848.939,68 |
97,27 |
2.409.647.037,14 |
99,42 |
|
B) NON CURRENT LIABILITIES |
39.089.445,85 |
1,52 |
59.000.554,37 |
2,37 |
|
|
|
C) CURRENT LIABILITIES |
850.122,07 |
0,03 |
9.036.373,42 |
0,36 |
13.982.492,27 |
0,58 |
Profit and loss account analysis
Figures
given in €
|
|
31/12/2011 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
177.515.434,41 |
|
60.119.595,92 |
|
102.640.646,40 |
|
|
GROSS MARGIN |
158.596.305,88 |
89,34 |
48.517.512,54 |
80,70 |
2.519.054,44 |
2,45 |
|
EBITDA |
157.670.908,10 |
88,82 |
47.104.731,65 |
78,35 |
1.218.248,21 |
1,19 |
|
EBIT |
157.659.736,27 |
88,81 |
47.091.786,66 |
78,33 |
1.208.585,87 |
1,18 |
|
NET RESULT |
156.377.726,80 |
88,09 |
46.201.902,54 |
76,85 |
803.895,46 |
0,78 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures
expressed in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on
the total assets |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|||
|
A) NON CURRENT ASSETS |
99,82 |
34,76 |
65,06 |
|
|
|
|
|
A) CURRENT ASSETS |
0,18 |
65,24 |
-65,06 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|||
|
A) NET WORTH |
98,45 |
41,58 |
56,87 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
1,52 |
12,74 |
-11,23 |
|
|
|
|
|
C) CURRENT LIABILITIES |
0,03 |
45,68 |
-45,65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT
ANALYSIS: % on the total operating income |
|
|
|
|
|
|
|
|
SALES |
100,00 |
99,11 |
0,89 |
|
|
|
|
|
GROSS MARGIN |
89,34 |
14,30 |
75,04 |
|
|
|
|
|
EBITDA |
88,82 |
0,28 |
88,54 |
|
|
|
|
|
EBIT |
88,81 |
-0,56 |
89,37 |
|
|
|
|
|
NET RESULT |
88,09 |
-0,70 |
88,80 |
|
|
|
|
Sector Composition
Compared
sector (NACE 2009): 4672
Number
of companies: 22
Size
(sales figure): > 40,000,000.00 Euros
OTHER DATA FROM THE
ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual
financial report 2011
Figures
given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account
Balance |
156.377.726,80 |
Legal Reserve |
7.648.186,29 |
|
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 |
148.729.540,51 |
|
Total of Amounts to be
distributed |
156.377.726,80 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous
exercises losses |
0,00 |
|
|
|
Application total |
156.377.726,80 |
Auditing
Source: filing
of annual financial statement 2011
Auditors’
opinion: FAVOURABLE
Auditor: PRICEWATERHOUSECOOPERS
AUDITORES S.L.
Auditing
fees: 25.000,00 €
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 DANIEL
BALACIART (ENTRESUELO D), 6
46020 VALENCIA
Previous
Seat Address:
CALLE SERRANO 23
28001 MADRID
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
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|
Distribution of the
administration board |
|
|
Governing body : 6 members (latest
change: 16/06/2011) Other Positions : 12 (latest
change: 28/10/2011) Auditor : 1 (latest
change: 14/07/2010) Operative Board Members : 2 (latest
change: 23/03/2012) Non-current positions : 35 (latest
change: 28/05/2012) |
|
|
Main Board members, Directors
and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
DARDERES RAUL, HECTOR |
26/06/2007 |
|
MEMBER OF THE BOARD |
BOCCHINI, UMBERTO |
04/10/2001 |
|
MEMBER OF THE BOARD |
BOCCHINI MARIA, UMBERTO |
26/06/2007 |
|
MEMBER OF THE BOARD |
MARTINEZ NAVARRETE, JAVIER |
16/06/2011 |
|
SECRETARY |
TRENOR PUIG, TOMAS |
10/07/2009 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
PRICEWATERHOUSECOOPERS
AUDITORES SL |
14/07/2010 |
There
are 19 board members, directors and auditors registered at INFORMA
D&B, S.A.
Board
members remuneration
Source: Annual
financial report 2011
Board members remuneration: 24.000,00 €
Functional Managers
|
POSITION |
NAME AND SURNAME |
|
Manager |
MARTINEZ NAVARRETE, JAVIER |
|
Financial Manager |
MARTINEZ NAVARRETE, JAVIER |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
TERNIUM INVESTMENTS S.A R.L |
LUXEMBOURG |
100,00 |
OWN SOURCES |
24/09/2012 |
There
are 1 direct financial links through shareholders registered at
INFORMA D&B, S.A.
You can obtain business
information of foreign companies at the page D&B INTERNATIONAL
Former Shareholders
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
DIRKEN COMPANY SA |
URUGUAY |
100,00 |
B.O.R.M.E. |
23/12/2010 |
|
|
TECHINTRADE URUGUAY SA |
URUGUAY |
100,00 |
B.O.R.M.E. |
22/01/2009 |
|
|
TERNIUM INTERNACIONAL SA |
URUGUAY |
100,00 |
MERCANTILE REGISTER |
03/03/2008 |
You can obtain business
information of foreign companies at the page D&B INTERNATIONAL
Direct Participations
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
TERNIUM INTERNACIONAL
GUATEMALA SA |
GUATEMALA |
99,83 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
TERNIUM MEXICO SA DE CV |
MEXICO |
71,22 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
SIDERAR SAIC |
ARGENTINA |
60,94 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
FERRASA SAS |
COLOMBIA |
54,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
TENIGAL S. DE R.L. DE C.V. |
MEXICO |
51,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
TERNIUM INGENIERIA Y SERVICIOS
DE ARGENTINA SA |
ARGENTINA |
6,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
TERNIUM BRASIL S.A. |
BRAZIL |
5,00 |
MERCANTILE REGISTER |
31/12/2011 |
There
are 7 direct financial links through participations registered at
INFORMA D&B, S.A.
You can obtain business
information of foreign companies at the page D&B INTERNATIONAL
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”HECTOR
DARDERES RAUL”
|
COMPANY |
POSITION |
PROVINCE |
|
CONSORCIO SIDERURGIA AMAZONIA
S.L. |
Presidente |
VALENCIA |
In case you need more
information you can request:Board Members Monitoring
Name Search in the Internet
Search Criterion: ”TERNIUM
INTERNACIONAL ESPAÑA SL”
URL: www.ternium.com
Ternium - Acero
Con la certeza de que el éxito de sus clientes es su propio éxito, Ternium suma
las fortalezas de sus unidades productivas para consolidar la eficiencia y ...
URL: es.linkedin.com
Alessio Buzzoni - España |
LinkedIn Sales manager/Buyer. Ternium Internacional España.
Public Company; 10,001+ employees; TX; Minería y metalurgia industry. March
2006 –
Present (6 years 7 ...
URL: www.elcorreo.eu.org
Techint deberá pagar su deuda al
fisco argentino - El Correo 28 Ago 2012... la propiedad de
Siderar a España para abusar de un convenio fiscal. ... Ternium Internacional
España » por su participación en Siderar.
URL: www.alacrastore.com
Siderar S.A.I.C. - Company
Snapshot ... Impeco SA, as well as minor stakes in other
companies. In addition, Ternium Internacional Espana SL was its majority
shareholder with 60.94% of its interests.
URL: www.boe.es
BORME-A-2012-106-46 - Boe
6 Jun 2012 ... 239169 - TERNIUM INTERNACIONAL ESPAÑA SL. Revocaciones.
Apo.Manc.: CASARES EMILIO. Apoderado: CARIMOWICZ SEBASTIAN.
BUSINESS INFORMATION
Incorporation date: 20/07/2001
Activity
Informa
Code: 1616200
Informa
Activity: Wholesale of iron & steel
NACE
2009 CODE: 4672
NACE
2009 Activity: Wholesale of metals and metal ores
Business: LA
COMERCIALIZACION E INTERMEDIACION EN LA COMPRA Y VENTA DE PRODUCTOS Y BIENES
DERIVADOS DE LA INDUSTRIA SIDERURGICA, TUBOS CON COSTURA Y SIN COSTURA,
PRODUCTOS PLANOS, CHAPAS, HOJALATAS, LAMINADOS ETC. EL ASESORAMIENTO
(Enlargement)E) LAS ACTIVIDADES
DE GESTION Y ADMINISTRACION DE VALORES REPRESENTATIVOS DE LOS FONDOS PROPIOS DE
ENTIDADES NO RESIDENTES EN TERRITORIO ESPANOL, MEDIANTE LA CORRESPONDIENTE
ORGANIZACION DE MEDIOS MATERIALES Y PERSONALES
Employees
Latest
employees figure: 5 (2012)
% of
fixed employees: 100,00%
% of
men: 83,33%
% of women: 16,67%
Employees distribution
Source: Annual
financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
5 |
1 |
COMMERCIAL OPERATIONS
PURCHASES
Import
Percentage: 100%
Imports from: UNION
EUROPEA Y OTROS
SALES
Export
Percentage: 93%
Exports
to: UNION EUROPEA Y OTROS PAISES
National Distribution: 7%
SUPPLIERS
|
BUSINESS
NAME |
INTERNATIONAL |
|
SIDERAR
S.A.I.C. |
YES |
There
are 1 Suppliers at INFORMA D&B, S.A.
CLIENTS
|
BUSINESS
NAME |
INTERNATIONAL |
|
TERNIUM
INTERNACIONAL GUATEMALA |
YES |
|
FERRASA
SAS |
YES |
There are 2 Clients
Sales breakdown
•
La parte del importe neto de la cifra
de negocios correspondiente a los ingresos procedentes de participaciones en
empresas del grupo tiene su origen en un 100% en el Resto del Mundo.
Banks
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA
ARGENTARIA, S.A. |
|
|
VALENCIA |
|
|
CITIBANK INTERNATIONAL PLC,
S.E. |
0000 |
JOSE ORTEGA Y GASSET, 29 4
PLANTA |
MADRID |
Madrid |
There are 2 bank entities registered
Brands
FORMER NAMES:
•
TERNIUM INTERNACIONAL ESPANA SA
•
SOCOMINTER DE ESPANA SA
LEGAL STRUCTURE
Constitution Data
Register
Date: 20/07/2001
Register
town: Madrid
Announcement number: 364162
Current structure data
Legal
form: Sole-partnered Limited Liability Company
Share capital: 115.412.067,54 €
Legal Aspects
Obligation
to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E. (OFFICIAL GAZETTE OF
THE MERCANTILE REGISTER)
Summary
Acts
on activity: 1 (Last: 12/06/2007)
Acts
on administrators: 51 (Last: 07/08/2012, first: 04/10/2001)
Acts
on capital: 3 (Last: 23/03/2011, first: 09/08/2007)
Acts
on creation: 1 (Last: 04/10/2001)
Acts
on filed accounts: 14 (Last: 24/06/2011, first: 20/02/2003)
Acts
on identification: 4 (Last: 26/06/2007, first: 21/02/2003)
Acts
on Information: 7 (Last: 23/12/2010, first: 04/10/2001)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Re-elections |
07/08/2012 |
331829 |
Valencia |
|
Resignations |
06/06/2012 |
239169 |
Valencia |
|
Appointments |
10/11/2011 |
447460 |
Valencia |
|
Appointments |
10/11/2011 |
447459 |
Valencia |
|
Appointments |
10/11/2011 |
447458 |
Valencia |
|
Appointments |
10/11/2011 |
447457 |
Valencia |
|
Resignations |
10/11/2011 |
447456 |
Valencia |
|
Re-elections |
08/07/2011 |
289758 |
Valencia |
|
Appointments |
28/06/2011 |
273513 |
Valencia |
|
Resignations |
28/06/2011 |
273513 |
Valencia |
There are 81 acts registered at
PRESS ARTICLES
Press summary by type of information (last five years)
Legal
notices: 0
Structural
Data: 0
Informative
data: 0
Financial
Information: 0
Negative
information: 0
Business
lines: 0
Historical
press releases: 3 (Last: 28/12/2005, first: 28/11/2002)
Latest press article published
28/12/2005 LEVANTE EL
MERCANTIL VALENCIANO - LEGAL ANNOUNCEMENTS
EL
SOCIO UNICO DE SOCOMINTER DE ESPAÑA SA ACORDO EL 03/11/05 MODIFICAR LA
DENOMINACION SOCIAL A LA DE TERNIUM INTERNACIONAL ESPAÑA SA.
06/10/2003 LA
GACETA - LEGAL ANNOUNCEMENTS
EL
SOCIO UNICO DE ESTA SDAD. ACORDO, CON FECHA 15/07/03, TRASLADAR EL DOMICILIO
SOCIAL A VALENCIA, C/ DANIEL BALACIART N.6, ENTRESUELO D.
28/11/2002 LA
RAZON - LEGAL ANNOUNCEMENTS
EL
SOCIO UNICO DE TENARIS DE ESPAÑA, S.A. HA ACORDADO EL 31/07/02 EN JUNTA GRAL.
EXTRAORDINARIA MODIFICAR LA DENOMINACION SOCIAL POR LA DE SOCOMINTER DE ESPAÑA,
S.A.
There are 3 press articles registered for this company
Complementary Information
Financial Information
El
balance cerrado a 31/12/2011 (Deposito 2011) esta disponible en, pero existen
datos en los nuevos estados contables incorrectamente presentados.
El
balance cerrado a 31/12/2006 (Depósito 2006) está disponible en INFORMA pero no
ha sido cargado por presentar en sus cuentas la siguiente anomalía: la partida
de Provisiones para operaciones de trafico está incorrectamente presentada, con
valor negativo.
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 11/07/2012.
SITUATION
BALANCE-SHEET
Assets
Figures
given in €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
2.570.574.885,91 |
99,82 |
2.482.202.624,68 |
99,73 |
2.418.728.216,57 |
99,80 |
|
I. Intangible assets |
|
|
|
|
|
|
|
II. Tangible fixed assets |
7.489,52 |
0,00 |
43.817,05 |
0,00 |
56.762,04 |
0,00 |
|
2. Technical fittings and
other tangible assets |
7.489,52 |
0,00 |
43.817,05 |
0,00 |
56.762,04 |
0,00 |
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in
associated and affiliated companies |
2.570.563.308,31 |
99,82 |
2.482.153.469,55 |
99,73 |
2.418.664.730,46 |
99,80 |
|
1. Net worth instruments |
2.570.563.308,31 |
99,82 |
2.482.153.469,55 |
99,73 |
2.418.664.730,46 |
99,80 |
|
V. Long Term Financial
Investments |
4.088,08 |
0,00 |
5.338,08 |
0,00 |
6.724,07 |
0,00 |
|
6. Other investments |
4.088,08 |
0,00 |
5.338,08 |
0,00 |
6.724,07 |
0,00 |
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial
debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
4.539.689,99 |
0,18 |
6.683.242,79 |
0,27 |
4.901.312,84 |
0,20 |
|
I. Non-current assets
maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
|
|
|
|
|
|
|
III. Trade Debtors and other receivable
accounts |
2.922.856,54 |
0,11 |
5.092.330,66 |
0,20 |
1.943.200,26 |
0,08 |
|
1. Clients |
2.563.327,68 |
0,10 |
5.026.859,05 |
0,20 |
1.591.438,13 |
0,07 |
|
b) Clients for sales and short
term services rendering |
2.563.327,68 |
0,10 |
5.026.859,05 |
0,20 |
1.591.438,13 |
0,07 |
|
2. Clients group and
associated companies |
310.045,82 |
0,01 |
11.405,23 |
0,00 |
38.205,37 |
0,00 |
|
4. Staff |
|
|
23.480,00 |
0,00 |
54.320,00 |
0,00 |
|
6. Other credits with the
Public Administrations |
49.483,04 |
0,00 |
30.586,38 |
0,00 |
259.236,76 |
0,01 |
|
IV. Short term investments in
associated and affiliated companies |
1.290.030,99 |
0,05 |
1.238.432,23 |
0,05 |
|
|
|
2. Credits to companies |
1.290.030,99 |
0,05 |
1.238.432,23 |
0,05 |
|
|
|
V. Short term financial
investments |
|
|
|
|
|
|
|
VI. Short term
periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
326.802,46 |
0,01 |
352.479,90 |
0,01 |
2.958.112,58 |
0,12 |
|
1. Treasury |
278.565,39 |
0,01 |
105.676,29 |
0,00 |
267.765,38 |
0,01 |
|
2. Other cash equivalents |
48.237,07 |
0,00 |
246.803,61 |
0,01 |
2.690.347,20 |
0,11 |
|
TOTAL ASSETS (A + B) |
2.575.114.575,90 |
100,00 |
2.488.885.867,47 |
100,00 |
2.423.629.529,41 |
100,00 |
Net Worth and Liabilities
Figures
given in €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NET WORTH |
2.535.175.007,98 |
98,45 |
2.420.848.939,68 |
97,27 |
2.409.647.037,14 |
99,42 |
|
A-1) Equity |
2.535.175.007,98 |
98,45 |
2.420.848.939,68 |
97,27 |
2.409.647.037,14 |
99,42 |
|
I. Capital |
115.412.067,54 |
4,48 |
115.057.465,74 |
4,62 |
115.057.465,74 |
4,75 |
|
1. Authorized capital |
115.412.067,54 |
4,48 |
115.057.465,74 |
4,62 |
115.057.465,74 |
4,75 |
|
II. Issue premium |
2.192.430.963,25 |
85,14 |
2.185.336.503,49 |
87,80 |
2.185.336.503,49 |
90,17 |
|
III. Reserves |
70.954.250,39 |
2,76 |
74.253.067,91 |
2,98 |
108.449.172,45 |
4,47 |
|
1. Legal and statutory |
15.434.227,22 |
0,60 |
10.814.036,97 |
0,43 |
10.733.647,42 |
0,44 |
|
2. Other funds |
55.520.023,17 |
2,16 |
63.439.030,94 |
2,55 |
97.715.525,03 |
4,03 |
|
IV. (Net worth own shares and
participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
156.377.726,80 |
6,07 |
46.201.902,54 |
1,86 |
803.895,46 |
0,03 |
|
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 |
39.089.445,85 |
1,52 |
59.000.554,37 |
2,37 |
|
|
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
|
|
|
|
|
|
|
III. Long term debts with
associated and affiliated companies |
39.089.445,85 |
1,52 |
59.000.554,37 |
2,37 |
|
|
|
IV. Liabilities by deferred
taxes |
|
|
|
|
|
|
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade
creditors |
|
|
|
|
|
|
|
VII. Long term debts with
special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
850.122,07 |
0,03 |
9.036.373,42 |
0,36 |
13.982.492,27 |
0,58 |
|
I. Liabilities related with
non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
|
|
|
|
|
|
|
IV. Short term debts with
associated and affiliated companies |
44.665,88 |
0,00 |
3.900.010,41 |
0,16 |
12.327.666,03 |
0,51 |
|
V. Trade creditors and other
payable accounts |
805.456,19 |
0,03 |
5.136.363,01 |
0,21 |
1.654.826,24 |
0,07 |
|
1. Suppliers |
59.669,73 |
0,00 |
207.712,44 |
0,01 |
13.351,63 |
0,00 |
|
b) Short term suppliers |
59.669,73 |
0,00 |
207.712,44 |
0,01 |
13.351,63 |
0,00 |
|
2. Suppliers group and
associated companies |
703.412,54 |
0,03 |
4.843.161,18 |
0,19 |
1.559.731,88 |
0,06 |
|
3. Different creditors |
5.371,18 |
0,00 |
15.315,88 |
0,00 |
8.837,00 |
0,00 |
|
4. Staff (pending
remunerations) |
17.967,67 |
0,00 |
15.340,14 |
0,00 |
12.666,67 |
0,00 |
|
6. Other debts with Public
Administrations |
19.035,07 |
0,00 |
54.833,37 |
0,00 |
60.239,06 |
0,00 |
|
VI. Short term
periodifications |
|
|
|
|
|
|
|
VII. Short term debts with
special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND
LIABILITIES (A + B + C) |
2.575.114.575,90 |
100,00 |
2.488.885.867,47 |
100,00 |
2.423.629.529,41 |
100,00 |
PROFIT AND LOSS ACCOUNT
Figures
given in €
|
|
31/12/2011 (12) |
%OPERATING INCOME |
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
177.515.434,41 |
100,00 |
60.119.595,92 |
100,00 |
102.640.646,40 |
100,00 |
|
A) Sales |
175.945.506,66 |
99,12 |
59.047.019,76 |
98,22 |
102.432.609,94 |
99,80 |
|
b) Services provided |
1.569.927,75 |
0,88 |
1.072.576,16 |
1,78 |
208.036,46 |
0,20 |
|
2. Variation in stocks of
finished goods and work in progress |
|
|
|
|
|
|
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-18.919.128,53 |
-10,66 |
-11.602.083,38 |
-19,30 |
-100.121.591,96 |
-97,55 |
|
a) Material consumed |
-18.857.534,03 |
-10,62 |
-11.602.083,38 |
-19,30 |
-100.121.591,96 |
-97,55 |
|
c) Works carried out for other
companies |
-61.594,50 |
-0,03 |
|
|
|
|
|
5. Other operating income |
|
|
|
|
|
|
|
6. Labour cost |
-573.816,28 |
-0,32 |
-837.092,76 |
-1,39 |
-821.220,00 |
-0,80 |
|
a) Wages and similar expenses |
-402.253,02 |
-0,23 |
-606.458,11 |
-1,01 |
-558.658,49 |
-0,54 |
|
b) Social costs |
-171.563,26 |
-0,10 |
-230.634,65 |
-0,38 |
-262.561,51 |
-0,26 |
|
7. Other operating costs |
-339.751,12 |
-0,19 |
-575.563,00 |
-0,96 |
-477.809,79 |
-0,47 |
|
a) External services |
-334.198,26 |
-0,19 |
-570.100,31 |
-0,95 |
-472.334,29 |
-0,46 |
|
b) Taxes |
-5.552,86 |
0,00 |
-5.462,69 |
-0,01 |
-5.475,50 |
-0,01 |
|
8. Amortization of fixed
assets |
-11.171,83 |
-0,01 |
-12.944,99 |
-0,02 |
-9.662,34 |
-0,01 |
|
9. Allocation of subventions
on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result
for fixed assets disposal |
-11.830,38 |
-0,01 |
|
|
|
|
|
b) Results for disposals and
others |
-11.830,38 |
-0,01 |
|
|
|
|
|
12. Negative difference of
business combinations |
|
|
|
|
|
|
|
13. Other results |
|
|
-125,13 |
0,00 |
-1.776,44 |
0,00 |
|
A.1) OPERATING RESULT (1 + 2 +
3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) |
157.659.736,27 |
88,81 |
47.091.786,66 |
78,33 |
1.208.585,87 |
1,18 |
|
14. Financial income |
314.108,40 |
0,18 |
11.331,10 |
0,02 |
80.658,53 |
0,08 |
|
b) From negotiable values and
other financial instruments |
314.108,40 |
0,18 |
11.331,10 |
0,02 |
80.658,53 |
0,08 |
|
b 1) From group and associated
companies |
311.035,98 |
0,18 |
480,22 |
0,00 |
9.329,76 |
0,01 |
|
b 2) From third parties |
3.072,42 |
0,00 |
10.850,88 |
0,02 |
71.328,77 |
0,07 |
|
15. Financial expenses |
-1.749.862,35 |
-0,99 |
-792.939,90 |
-1,32 |
-445.167,53 |
-0,43 |
|
a) For debts with associated
and affiliated companies |
-1.749.862,35 |
-0,99 |
-792.939,90 |
-1,32 |
-445.167,53 |
-0,43 |
|
16. Reasonable value variation
on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
153.744,48 |
0,09 |
-108.275,32 |
-0,18 |
-40.181,41 |
-0,04 |
|
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) |
-1.282.009,47 |
-0,72 |
-889.884,12 |
-1,48 |
-404.690,41 |
-0,39 |
|
A.3) RESULT BEFORE TAXES (A.1
+ A.2) |
156.377.726,80 |
88,09 |
46.201.902,54 |
76,85 |
803.895,46 |
0,78 |
|
20. Taxes on profits |
|
|
|
|
|
|
|
A.4) EXERCISE RESULT COMING
FROM CONTINUED OPERATIONS (A.3 + 20) |
156.377.726,80 |
88,09 |
46.201.902,54 |
76,85 |
803.895,46 |
0,78 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise
result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 +
21) |
156.377.726,80 |
88,09 |
46.201.902,54 |
76,85 |
803.895,46 |
0,78 |
NET WORTH CHANGES
STATUS
Status of recognized
income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2011 (12) |
31/12/2010 (12) |
31/12/2009 (12) |
|
A) PROFIT AND LOSS ACCOUNT
RESULT |
156.377.726,80 |
46.201.902,54 |
803.895,46 |
|
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) |
156.377.726,80 |
46.201.902,54 |
803.895,46 |
Total net worth changes status
Figures
given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2008) |
115.057.465,74 |
2.185.336.503,49 |
1.533.543,49 |
106.915.628,96 |
|
I. Adjustments by change of
criteria in the exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in
the exercise (2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE,
BEGINNING OF EXERCISE (2009) |
115.057.465,74 |
2.185.336.503,49 |
1.533.543,49 |
803.895,46 |
|
I. Total recognized income and
expenses |
|
|
|
|
|
II. Operations with partners
or owners |
|
|
106.915.628,96 |
|
|
7. Other operations with
partners or owners |
|
|
106.915.628,96 |
|
|
III. Other net worth
variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2009) |
115.057.465,74 |
2.185.336.503,49 |
108.449.172,45 |
803.895,46 |
|
I. Adjustments by change of
criteria in the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in
the exercise (2009) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE,
BEGINNING OF EXERCISE (2010) |
115.057.465,74 |
2.185.336.503,49 |
108.449.172,45 |
803.895,46 |
|
I. Total recognized income and
expenses |
|
|
|
46.201.902,54 |
|
II. Operations with partners
or owners |
|
|
803.895,46 |
-803.895,46 |
|
4. (-) Dividends distribution |
|
|
803.895,46 |
-803.895,46 |
|
III. Other net worth
variations |
|
|
-35.000.000,00 |
|
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2010) |
115.057.465,74 |
2.185.336.503,49 |
74.253.067,91 |
46.201.902,54 |
|
I. Adjustments by change of
criteria in the exercise (2010) |
|
|
|
|
|
II. Adjustments by errors in
the exercise (2010) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE,
BEGINNING OF EXERCISE (2011) |
|
|
|
|
|
I. Total recognized income and
expenses |
|
|
|
156.377.726,80 |
|
II. Operations with partners
or owners |
354.601,80 |
7.094.459,76 |
-49.500.720,06 |
|
|
1. Capital Increases |
354.601,80 |
7.094.459,76 |
|
|
|
4. (-) Dividends distribution |
|
|
-49.500.720,06 |
|
|
III. Other net worth
variations |
|
|
46.201.902,54 |
46.201.902,54 |
|
FINAL ACCOUNT BALANCE OF EXERCISE
(2011) |
115.412.067,54 |
2.192.430.963,25 |
70.954.250,39 |
156.377.726,80 |
|
NET WORTH CHANGES ( 3 /3) |
TOTAL |
|
||
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2008) |
2.408.843.141,68 |
|
||
|
I. Adjustments by change of
criteria in the exercise (2008) |
|
|
||
|
II. Adjustments by errors in
the exercise (2008) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE,
BEGINNING OF EXERCISE (2009) |
803.895,46 |
|
||
|
I. Total recognized income and
expenses |
|
|
||
|
II. Operations with partners
or owners |
|
|
||
|
7. Other operations with
partners or owners |
|
|
||
|
III. Other net worth
variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2009) |
2.409.647.037,14 |
|
||
|
I. Adjustments by change of
criteria in the exercise (2009) |
|
|
||
|
II. Adjustments by errors in
the exercise (2009) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE,
BEGINNING OF EXERCISE (2010) |
2.409.647.037,14 |
|
||
|
I. Total recognized income and
expenses |
46.201.902,54 |
|
||
|
II. Operations with partners
or owners |
|
|
||
|
4. (-) Dividends distribution |
|
|
||
|
III. Other net worth
variations |
-35.000.000,00 |
|
||
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2010) |
2.420.848.939,68 |
|
||
|
I. Adjustments by change of
criteria in the exercise (2010) |
|
|
||
|
II. Adjustments by errors in
the exercise (2010) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE,
BEGINNING OF EXERCISE (2011) |
|
|
||
|
I. Total recognized income and
expenses |
156.377.726,80 |
|
||
|
II. Operations with partners
or owners |
-42.051.658,50 |
|
||
|
1. Capital Increases |
7.449.061,56 |
|
||
|
4. (-) Dividends distribution |
-49.500.720,06 |
|
||
|
III. Other net worth
variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF
EXERCISE (2011) |
2.535.175.077,98 |
|
||
CASH FLOW STATUS
Figures
given in €
|
|
31/12/2011 (12) |
31/12/2010 (12) |
31/12/2009 (12) |
|
A) CASH FLOW COMING FROM
OPERATING ACTIVITIES |
|
|
|
|
1. exercise result before
taxes |
156.377.728,80 |
46.201.902,54 |
803.895,46 |
|
2. Results adjustments |
1.305.011,68 |
902.829,11 |
414.534,28 |
|
a) Amortization of fixed
assets (+) |
11.171,83 |
12.944,99 |
9.662,34 |
|
c) Change of Provisions (+/-) |
|
|
181,53 |
|
e) Results for decline and
disposal of fixed assets (+/-) |
11.830,38 |
|
|
|
g) Financial income (-) |
-314.108,40 |
-11.331,10 |
-80.658,53 |
|
f) Financial expenses (+) |
1.749.862,35 |
792.939,90 |
445.167,53 |
|
i) Change difference (+/-) |
-153.744,48 |
108.275,32 |
40.181,41 |
|
3. Changes in current capital |
-2.213.031,46 |
-905.427,25 |
-1.117.471,86 |
|
b) Debtors and other
receivable accounts (+/-) |
2.169.474,12 |
-3.149.497,40 |
17.366.226,44 |
|
c) Other current assets (+/-) |
-51.598,76 |
-1.238.432,23 |
162.785,76 |
|
d) Creditors and other payable
accounts (+/-) |
-4.330.906,82 |
3.482.502,38 |
-18.646.484,06 |
|
4. Other cash flow coming from
operating activities |
-1.435.753,95 |
-781.608,80 |
598.272,80 |
|
a) Interests payments (-) |
-1.749.862,35 |
-792.939,90 |
-688.442,44 |
|
b) Dividends collections (+) |
|
|
60.658,53 |
|
c) Interests collections (+) |
314.108,40 |
11.331,10 |
|
|
5. Cash flow coming from
operating activities (1 + 2 + 3 + 4) |
154.033.953,07 |
45.417.695,60 |
-448.314,92 |
|
B) CASH FLOW COMING FROM
INVESTING ACTIVITIES |
|
|
|
|
6. Investment payments (-) |
-88.409.838,76 |
-63.488.739,09 |
211.378,02 |
|
a) Group and associated
companies |
-88.409.838,76 |
-63.488.739,09 |
-174.338,86 |
|
c) Tangible assets |
|
|
-35.654,16 |
|
e) Other financial assets |
|
|
-1.385,00 |
|
7. Disinvestment collections
(+) |
14.575,32 |
787,38 |
170.251,05 |
|
a) Group and associated
companies |
|
|
162.785,76 |
|
c) Tangible assets |
13.325,32 |
|
|
|
e) Other financial assets |
1.250,00 |
787,38 |
7.465,29 |
|
8. Cash Flow in investment
activities (6 + 7) |
-88.395.263,44 |
-63.487.951,71 |
41.126,97 |
|
C) CASH FLOW COMING FROM
FINANCING ACTIVITIES |
|
|
|
|
9. Net worth instruments
collections and payments |
7.449.061,56 |
|
|
|
a) Net worth instruments issue
(+) |
7.449.061,56 |
|
|
|
10. Financial liabilities
instruments collections and payments |
-23.766.453,05 |
50.572.898,75 |
|
|
a) Issue |
58.049.111,73 |
59.000.554,37 |
|
|
3. Debts with group and
associated companies (+) |
58.049.111,73 |
59.000.554,37 |
|
|
b) Return and amortization of |
-81.815.564,78 |
-8.427.655,62 |
|
|
3. Debts with group and
associated companies (-) |
-81.815.564,78 |
-8.427.655,62 |
|
|
11. Payments for dividends and
remunerations of other net worth instruments |
-49.500.720,06 |
-35.000.000,00 |
|
|
a) Dividends (-) |
-49.500.720,06 |
-35.000.000,00 |
|
|
12. Cash Flow in financing
activities (9 + 10 + 11) |
-65.818.111,55 |
15.572.898,75 |
|
|
D) Exchange rate variations
effect |
153.744,48 |
-108.275,32 |
|
|
E) NET CASH OR EQUIVALENTS
INCREASE / REDUCTION (5 + 8 + 12 + D) |
-25.677,44 |
-2.605.632,68 |
-547.953,00 |
|
Cash or equivalents at the
beginning of the exercise |
352.479,90 |
2.958.112,58 |
3.506.065,58 |
|
Cash or equivalents at the end
of the exercise |
325.802,60 |
352.479,80 |
2.958.112,58 |
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
3.689.567,92 |
256,79 |
-2.353.130,63 |
74,09 |
-9.081.179,43 |
|
Working capital ratio |
0,00 |
|
0,00 |
|
0,00 |
|
Soundness Ratio |
0,99 |
1,02 |
0,98 |
-2,00 |
1,00 |
|
Average Collection Period
(days) |
6 |
-81,18 |
31 |
347,37 |
7 |
|
Average Payment Period (days) |
16 |
-94,07 |
267 |
433,81 |
50 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
534,00 |
622,01 |
73,96 |
111,01 |
35,05 |
|
Quick Ratio (%) |
38,44 |
885,64 |
3,90 |
-81,57 |
21,16 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
1,52 |
-39,92 |
2,53 |
396,08 |
0,51 |
|
External Financing Average
Cost |
0,04 |
400,00 |
0,01 |
-75,00 |
0,04 |
|
Debt Service Coverage |
0,25 |
-82,01 |
1,38 |
105,05 |
-27,50 |
|
Interest Coverage |
90,10 |
51,71 |
59,39 |
2.083,46 |
2,72 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by
sales (%) |
86,77 |
14,85 |
75,55 |
17.270,45 |
-0,44 |
|
Auto financing generated by
Assets (%) |
5,98 |
226,78 |
1,82 |
9.250,00 |
-0,02 |
|
Breakdown Point |
8,94 |
93,51 |
4,62 |
357,43 |
1,01 |
|
Average Sales Volume per
Employee |
29.585.905,73 |
244,48 |
8.588.513,70 |
-33,06 |
12.830.080,80 |
|
Average Cost per Employee |
95.636,05 |
-20,03 |
119.584,68 |
16,49 |
102.652,50 |
|
Assets Turnover |
0,07 |
250,00 |
0,02 |
-50,00 |
0,04 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
6,12 |
223,81 |
1,89 |
3.680,00 |
0,05 |
|
Operating Profitability (%) |
6,12 |
223,81 |
1,89 |
3.680,00 |
0,05 |
|
Return on Equity (ROE) (%) |
6,17 |
223,04 |
1,91 |
6.266,67 |
0,03 |
SECTORIAL ANALYSIS
Balance Sheet and
Financial Balance
Figures
expressed in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on
the total assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
99,82 |
34,76 |
65,06 |
|
A) CURRENT ASSETS |
0,18 |
65,24 |
-65,06 |
|
LIABILITIES |
|||
|
A) NET WORTH |
98,45 |
41,58 |
56,87 |
|
B) NON CURRENT LIABILITIES |
1,52 |
12,74 |
-11,23 |
|
C) CURRENT LIABILITIES |
0,03 |
45,68 |
-45,65 |
|
|
|
|
|
Results Analytical Account
Figures
given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
100,00 |
99,11 |
0,89 |
|
Other operating income |
|
0,89 |
|
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-10,66 |
-85,29 |
74,63 |
|
Variation in stocks of
finished goods and work in progress |
|
-0,40 |
|
|
GROSS MARGIN |
89,34 |
14,30 |
75,04 |
|
Other operating costs |
-0,19 |
-7,82 |
7,63 |
|
Labour cost |
-0,32 |
-6,47 |
6,15 |
|
GROSS OPERATING RESULT |
88,83 |
0,01 |
88,82 |
|
Amortization of fixed assets |
-0,01 |
-1,26 |
1,25 |
|
Deterioration and result for
fixed assets disposal |
-0,01 |
0,61 |
-0,62 |
|
Other expenses / income |
|
0,08 |
|
|
NET OPERATING RESULT |
88,81 |
-0,56 |
89,37 |
|
Financial result |
-0,72 |
-0,48 |
-0,24 |
|
RESULT BEFORE TAX |
88,09 |
-1,03 |
89,12 |
|
Taxes on profits |
|
0,33 |
|
|
RESULT COMING FROM CONTINUED
OPERATIONS |
88,09 |
-0,70 |
88,79 |
|
Exercise result coming from
discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
88,09 |
-0,70 |
88,79 |
|
Amortization of fixed assets |
-0,01 |
-1,26 |
1,25 |
|
Deterioration and provisions
variation |
-0,01 |
0,42 |
-0,43 |
|
|
88,11 |
0,14 |
87,97 |
Main Ratios
Figures
given in €
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
3.689.567,92 |
949.531,59 |
8.891.831,66 |
30.708.129,75 |
|
Working capital ratio |
0,00 |
0,05 |
0,25 |
0,36 |
|
Soundness Ratio |
0,99 |
0,74 |
1,66 |
3,24 |
|
Average Collection Period
(days) |
6 |
85 |
108 |
123 |
|
Average Payment Period (days) |
16 |
56 |
111 |
136 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
534,00 |
109,23 |
143,71 |
195,15 |
|
Quick Ratio (%) |
38,44 |
2,08 |
4,33 |
25,12 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
1,52 |
16,00 |
36,34 |
52,37 |
|
External Financing Average
Cost |
0,04 |
0,03 |
0,05 |
0,06 |
|
Debt Service Coverage |
0,25 |
-2,90 |
3,75 |
22,33 |
|
Interest Coverage |
90,10 |
-3,49 |
0,37 |
2,18 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by
sales (%) |
86,77 |
-2,24 |
1,69 |
2,82 |
|
Auto financing generated by
Assets (%) |
5,98 |
-2,36 |
1,48 |
5,92 |
|
Breakdown Point |
8,94 |
0,96 |
1,00 |
1,03 |
|
Average Sales Volume per
Employee |
29.585.905,73 |
451.082,92 |
655.616,52 |
1.333.926,84 |
|
Average Cost per Employee |
95.636,05 |
32.204,81 |
39.919,67 |
44.416,34 |
|
Assets Turnover |
0,07 |
0,82 |
1,12 |
1,75 |
|
Inventory Turnover (days) |
0 |
44 |
59 |
103 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
6,12 |
-3,98 |
0,59 |
5,48 |
|
Operating Profitability (%) |
6,12 |
-2,42 |
3,07 |
8,21 |
|
Return on Equity (ROE) (%) |
6,17 |
-12,10 |
-0,62 |
7,27 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.