MIRA
INFORM REPORT
|
Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
BILBAINA DE ALQUITRANES SOCIEDAD
ANONIMA - BASA |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
28.06.1990 |
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Legal Form : |
Joint-stock Company |
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Line of Business : |
Manufacturer of chemical products |
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No. of Employees : |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
SPAIN - ECONOMIC OVERVIEW
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 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4%
in 2012. The economy has once again fallen into recession as deleveraging in
the private sector, fiscal consolidation, and continued high unemployment weigh
on domestic demand and investment, even as exports have shown signs of
resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0%
in 2012. The economic downturn has also hurt Spain's public finances. The
government budget deficit peaked at 11.2% of GDP in 2010 and the process to
reduce this imbalance has been slow despite the central government's efforts to
raise new tax revenue and cut spending. Spain reduced its budget deficit to
9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target
negotiated between Spain and the EU. Although Spain's large budget deficit and
poor economic growth prospects remain a source of concern for foreign
investors, the government's ongoing efforts to cut spending and introduce
flexibility into the labor markets are intended to assuage these concerns. The
government is also taking steps to shore up the banking system, namely by using
up to $130 billion in EU funds to recapitalize struggling banks exposed to the
collapsed domestic construction and real estate sectors.
Source
: CIA
Company name
BILBAINA DE ALQUITRANES SOCIEDAD ANONIMA ”BASA”
CIF/NIF: A48435309
Company situation: Deregistration Mercantile Register sheet file for
the lack of filed accounts - Article 378.1 of the Mercantile
Register Regulation (Date: 25/04/2013)
EXECUTIVE SUMMARY
Identification
Current Business Name: BILBAINA DE ALQUITRANES SOCIEDAD ANONIMA
Commercial name: BILBAINA DE ALQUITRANES
Other names: YES
Current Address: CALLE OBISPO PADRE
OLAETXEA, 49
Telephone number: 944970020 Fax: 944999721
URL: www.bilbaina.com
Corporate e-mail: basa@bilbaina.com
Trade Risk
Company situation: Deregistration Mercantile Register sheet file for
the lack of filed accounts - Article 378.1 of the Mercantile
Register Regulation (Date: 25/04/2013)
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2009): 31.316.189,05 € (Mercantile Register)
Result: 867.892,5 €
Total Assets: 23.574.894,95 €
Share capital: 929.765,27 €
Employees: 47
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 28/06/1990
Activity: Mfg. of chemical products
NACE 2009 CODE: 2059
International Operations: Imports and
Exports
Corporate Structure
Sole Administrator:
INDUBASA
INVERSIONES QUIMICAS SOCIEDAD LIMITADA
Parent Company:
INDUBASA
INVERSIONES QUIMICAS SL
Participations: 2
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2009
Latest act published in BORME: 13/02/2012 Capital reduction
(IA)
Latest press article: 21/12/2011 DEIA (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
Company situation
Deregistration Mercantile Register sheet file for the lack of filed
accounts - Article 378.1 of the Mercantile Register Regulation
(Date: 25/04/2013)
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
Summary
COMPANY NOT INCLUDED IN EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI -
SECTORIAL DEFAULTS OF PAYMENT
•
There is no information related to the nif/cif
consulted in the in the EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL
DEFAULTS OF PAYMENT file
This information comes from Experian Bureau Empresarial Service,
property of Experian Bureau de Crédito S.A. It could just be used for
businessmen or professionals and for the own aims of the business, and could
not be transferred or transmitted to third parties, copied, duplicate or
reproduce, nor incorporate to any owned or external database, or reuse it in
any direct or indirect way. Experian Bureau de Crédito S.A. may file you for
damages it may suffer in case of breaching any of the afore mentioned obligations.
Experian would not be responsible of the lack of accuracy in the supplied
information when it coincides with the one supplied by the creditor entities.
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
19/04/2013 08:04:07
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
The shaded amounts in the following financial statements
have been converted to the norms established in the PGC2007 derived from RD
1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises
initiated from 1/01/08.
Figures given in €
|
|
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
2.365.340,52 |
10,03 |
3.229.841,00 |
12,54 |
3.042.391,64 |
11,99 |
|
B) CURRENT ASSETS |
21.209.554,43 |
89,97 |
22.535.915,00 |
87,46 |
22.341.049,45 |
88,01 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
11.204.312,12 |
47,53 |
10.550.385,00 |
40,95 |
7.881.952,15 |
31,05 |
|
B) NON CURRENT LIABILITIES |
3.736.183,50 |
15,85 |
4.024.324,00 |
15,62 |
2.352.495,40 |
9,27 |
|
C) CURRENT LIABILITIES |
8.634.399,33 |
36,63 |
11.191.047,00 |
43,43 |
15.148.993,54 |
59,68 |
Profit and loss account analysis
Figures given in €
|
|
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2007 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
31.316.189,05 |
|
50.745.007,00 |
|
48.751.912,12 |
|
|
GROSS MARGIN |
12.568.123,73 |
40,13 |
18.912.117,00 |
37,27 |
16.404.090,28 |
33,65 |
|
EBITDA |
2.289.610,00 |
7,31 |
7.199.813,00 |
14,19 |
5.509.881,07 |
11,30 |
|
EBIT |
1.374.447,99 |
4,39 |
3.689.212,00 |
7,27 |
4.262.975,30 |
8,74 |
|
NET RESULT |
867.892,50 |
2,77 |
2.521.751,00 |
4,97 |
2.848.443,40 |
5,84 |
|
EFFECTIVE TAX RATE (%) |
28,94 |
0,00 |
24,70 |
0,00 |
25,29 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
10,03 |
42,44 |
-32,41 |
|
A) CURRENT ASSETS |
89,97 |
57,56 |
32,41 |
|
LIABILITIES |
|||
|
A) NET WORTH |
47,53 |
51,82 |
-4,29 |
|
B) NON CURRENT LIABILITIES |
15,85 |
13,77 |
2,08 |
|
C) CURRENT LIABILITIES |
36,63 |
34,41 |
2,22 |
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
99,92 |
98,59 |
1,33 |
|
GROSS MARGIN |
40,10 |
40,91 |
-0,81 |
|
EBITDA |
7,31 |
11,02 |
-3,71 |
|
EBIT |
4,39 |
5,97 |
-1,58 |
|
NET RESULT |
2,77 |
4,04 |
-1,27 |
Sector Composition
Compared sector (NACE 2009): 2059
Number of companies: 71
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 2009
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
867.893,00 |
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 |
867.893,00 |
|
Total of Amounts to be distributed |
867.893,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
867.893,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE WITH RESERVATIONS
Auditor: ERNST & YOUNG S.L.
Auditing exceptions:
The Company amortizes its intangible assets and equipment (as well as affected capital grants to it), basically
according to fiscal criteria that differ
from those that would result from applying the years of estimated
useful life of the goods. Additionally, the Company acquired in 1990 part of its
property to Society Wood and
Tar Bilbao, SA,
not providing technical
information about life such assets
remaining useful. Consequently, it
has been possible to determine the
effect on the results for 2009
and prior years may have had on
the coefficients prove to amortize such assets
in the years of life estimated useful.
As indicated in note 13 to the financial statements, the balance sheet at 31 December 20091 includes a provision for risks and charges provided in 2008 amounting to 1,500,000 euros. The sole
director of the Company deems necessary such provision to cover possible claims
arising from operations Commercial made. However, the date
of issuance of this report, we have objective evidence of the existence of liabilities incurred or involving a probable and quantifiable outflow justifying the need of the provision, so that the net worth of the Company at December 31, 2009, after deducting the tax
effect, is undervalued by 1,080,000
euros.
Auditing fees: 20.000,00 €
Facts subsequent to the closing
Source: Annual financial report 2009
After the closure no relevant facts requiring their inclusion in the
annual accounts have taken place.
ADDRESSES
Current Legal Seat Address:
CALLE OBISPO PADRE OLAETXEA, 49
48903 BARAKALDO
BIZKAIA
Characteristics of the current address
Type of establishment: store
Area: 20000 m2
Local Situation: secondary
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
13/12/2007)
Other Positions : 3 (latest change: 02/12/2010)
Auditor : 1 (latest change: 25/01/2008)
Operative Board Members : 5 (latest change: 14/11/2008)
Non-current positions : 10 (latest change: 25/01/2008)
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
SOLE ADMINISTRATOR |
INDUBASA INVERSIONES QUIMICAS SOCIEDAD LIMITADA |
13/12/2007 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
ERNST & YOUNG SOCIEDAD LIMITADA |
25/01/2008 |
Board members remuneration
Source: Annual
financial report 2009
Board
members remuneration: 0,00 €
|
POSITION |
NAME AND SURNAME |
|
Financial Manager |
ARTEAGA GONZALEZ, CHARO |
|
Human Resources Director |
MONASTERIO MARTIN, JAVIER |
|
Production Director |
ESPARZA ALONSO, ENRIQUE |
|
Commercial Director |
NAVARRO VILLANUEVA, ANA |
|
Exports Director |
NAVARRO VILLANUEVA, ANA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
INDUBASA INVERSIONES QUIMICAS SL |
B95401220 |
87,33 |
OWN SOURCES |
16/03/2012 |
|
|
FABRICA DE PRODUCTOS QUIMICOS SANA SA |
A48086375 |
12,67 |
OWN SOURCES |
16/03/2012 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
CARBOQUIM SL |
B48889554 |
Indef. |
MERCANTILE REGISTER |
31/12/2007 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
BILBAINA DE ALQUITRANES SRL |
ITALY |
100,00 |
MERCANTILE REGISTER |
31/12/2009 |
|
|
ENERGIA DE BILBAO SA |
A48856017 |
5,00 |
MERCANTILE REGISTER |
31/12/2009 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SOCIEDAD BILBAINA DE MADERAS Y ALQUITRANES SOCIEDAD LIMITADA. |
B48010359 |
25,02 |
MERCANTILE REGISTER |
31/12/1996 |
|
|
ELKARGI SOCIEDAD DE GARANTIA RECIPROCA |
V20066411 |
Indef. |
MERCANTILE REGISTER |
31/12/2009 |
Company with rating inferior to 7
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”INDUBASA INVERSIONES QUIMICAS SOCIEDAD LIMITADA”
|
COMPANY |
POSITION |
PROVINCE |
|
JESUS Y VICENTE VAZQUEZ S.L. |
Administrador Único |
HUELVA |
|
BILBAINA DE ALQUITRANES SOCIEDAD ANONIMA |
Administrador Único |
BIZKAIA |
|
FABRICA DE PRODUCTOS QUIMICOS SANA SA |
Administrador Único |
BIZKAIA |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: "BILBAINA CORPORATION OF TARS"
URL: www.bilbaina.com
Tar Bilbaon -
Company - Presentation Bilbaína
of Tar, SA
(BASA), a company backed by more than
a century of ... in
the distillation of coal tar
from coke oven batteries
of the ...
URL: www.bilbaoport.es
Directory - Port of Bilbao Bilbaina of
Tar, SA, 944970020,
basa@bilbaina.com, Bishop Olaechea,
49 48903 Barakaldo. http://www.bilbaina.com. Bilbao Frio Atlantic Terminal
- ...
BUSINESS INFORMATION
Incorporation date: 28/06/1990
Establishment date: 01/01/1922
Founder’s Name: Sociedad Bilbaina de Maderas y Alquitranes
Code: 1256000
Activity: Mfg. of chemical products
NACE 2009 CODE: 2059
NACE 2009 Activity: Manufacture of other chemical products
n.e.c.
Business: DESTILACION Y COMERCIO DE ALQUITRAN.
Activity description: Distillation and
marketing of coal
tar.
Latest employees figure: 47 (2012)
% of fixed employees: 100,00%
Employees evolution
|
|
|
|
SALES
Export Percentage: 24%
Exports to: RESTO DEL MUNDO
National Distribution: 76%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
INDUBASA
INVERSIONES QUIMICAS, S.L |
NO |
|
ENERGIA DE
BILBAO SA |
NO |
|
CARBOQUIM SL |
NO |
|
SOCIEDAD
BILBAINA DE MADERAS Y ALQUITRANES SA |
NO |
|
FABRICA DE
PRODUCTOS QUIMICOS SANA SA |
NO |
|
SANA SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
CORSIVIA SA |
NO |
|
FABRICA DE
PRODUCTOS QUIMICOS SANA SA |
NO |
|
ENERGÍA DE
BILBAO SA |
NO |
|
SANA SA |
NO |
|
CARBOQUIM SL |
NO |
• 100% of its turnover corresponds
to the sale of tars and their derivatives.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
1299 |
GRAN VIA, 12 - PLANTA 4 |
BILBAO |
Bizkaia |
|
BANKINTER, S.A. |
0300 |
PLAZA DE PEDRO EGUILLOR,1 |
BILBAO |
Bizkaia |
|
BANCO SANTANDER, S.A. |
|
|
BILBAO |
|
|
DEUTSCHE BANK, S.A.E. |
|
|
BILBAO |
|
|
BANCO ESPAÑOL DE CREDITO, S.A. |
|
|
BILBAO |
|
Discount facilities: 0
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 0
|
|
|
|
Debt type: Credit policy |
Granted limit:4.354.000,00 € Used limit:0,00 € Available limit:4.354.000,00
€ Source: Filed
Accounts (2009) |
|
|
|
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
MORE THAN 5 YEARS |
|
|
Instalaciones técnicas y otro inmovilizado material. |
18.558,00 |
44.993,00 |
0,00 |
Bank sources inform that the subject maintains since years a correct
operative, offering a favourable opinion based on their experience.
Brand name: BILBAINA DE ALQUITRANES (Valid)
Type: JOINT Scope: NATIONAL Date: 13/06/2002
LEGAL STRUCTURE
Constitution Data
Register Date: 28/06/1990
Register town: Bizkaia
Announcement number: 110667
Legal form: Joint-stock Company
Share capital: 929.765,27 €
Paid-up capital: 929.765,27 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2011)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 22 (Last: 20/06/2011, first:
13/08/1990)
Acts on capital: 9 (Last: 13/02/2012, first:
14/08/1992)
Acts on creation: 1 (Last: 13/08/1990)
Acts on filed accounts: 18 (Last: 16/06/2011, first:
12/12/1994)
Acts on identification: 0
Acts on Information: 3 (Last: 18/07/2011, first:
26/04/1991)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Capital reduction (IA) |
13/02/2012 |
70820 |
Bizkaia |
|
Capital reduction (II) |
22/12/2011 |
39157 |
|
|
Modification of the Articles of Association |
18/07/2011 |
301188 |
Bizkaia |
|
Re-elections |
20/06/2011 |
263675 |
Bizkaia |
|
Annual Filed Accounts (2009) |
16/06/2011 |
175993 |
Bizkaia |
|
Appointments |
02/12/2010 |
447664 |
Bizkaia |
|
Annual Filed Accounts (2008) |
27/11/2009 |
955536 |
Bizkaia |
|
Annual Filed Accounts (2007) |
15/09/2008 |
547546 |
Bizkaia |
|
Appointments |
25/01/2008 |
40300 |
Bizkaia |
|
Officially cancelling of an appointment |
25/01/2008 |
40300 |
Bizkaia |
Press summary by type of information (last five years)
Legal notices: 1 (Last: 21/12/2011)
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 1 (Last: 26/01/2009)
Historical press releases: 4 (Last: 24/02/2007, first:
15/04/2005)
Latest press article published
21/12/2011 DEIA (Page 43) LEGAL
ANNOUNCEMENTS
The Extraordinary General Meeting
of Shareholders of the Parent. has agreed to the
reduction of capital in the amount
of 242,207.03. Following the
reduction, social capital has been set
at EUR 929,765.27.
26/01/2009 CINCO DIAS - PRODUCTION DATA
PRODUCTION CUTS APPROVED BY
MAIN GROUPS SIDERURGICOS,
INCLUDING THE BIG 3 CONTROLLING THE WORLD
MARKET 20% (ArcelorMittal,
NIPPON STEEL AND
JFE STEEL), CAPACITY
WILL IMPAIR CARBOQUIMICA
INDUSTRY, TO REDUCE
BY 30% THE AVAILABILITY
OF tAR, YOUR
MAIN MATERIAL. IN
SPAIN, THE ACTIVITY
CARBOQUIMICA FOCUSES ON 2 COMPANIES, INCLUDING BILBAINA
OF TARS (BASA),
THAT ARE IN MORE
THAN 50% OF ArcelorMittal FOR YOUR PURCHASES. REDUCTION
OF PRODUCTION DECIDED BY THIS COULD RESULT IN
LOSS OF DISTILLATION
BASED CAPACITY UP
TO 40%.
24/02/2007 DEIA - ENVIRONMENT
TARS BILBAINA OF PRESENT
THE 22/02/07 BARAKALDO
IN THE CITY OF DOCUMENTATION
REQUIRED BY ENVIRONMENT AREA TO PREVENT CHEMICAL
PLANT CLOSURE. THE
COMPANY GAVE THE
END OF WORK
PAPERS, REPORTS OF
LABEIN that confirm FUNCTIONING PROPERLY THE NEW FILTER AND CERTIFICATION
OF ENTERPRISE AND
USED BY THE AIR
QUALITY RED BASQUE GOVERNMENT,
SO ITS EMISSIONS iNSTANTLY BEING CONTROLLED BY THE
DEPARTMENT OF ENVIRONMENT.
03/02/2007 DEIA - GENERAL INFORMATION
TARS BILBAINA OF NEED
FROM 2 TO 3 WEEKS TO PROCESS THE 2 REQUIREMENTS
THAT WON THE CITY
OF BARAKALDO TO NOT CLOSE THE PLANT,
RESEARCH DEVELOPED AFTER AFTER CHEMICAL
LEAK. ONE OF THE DIRECTORS
OF THE EMPRES,
PEDRO GOMEZ HAS SCREENED
ITS INTENTION TO CONTINUE WITH BUSINESS IN
Burtzeña AND ITS COMMITMENT TO THE ENVIRONMENT, WITH AN
INVESTMENT OF 2.5 MM. EUROS THE 2 LAST YEARS TO REDUCE ITS
EMISSIONS.
30/01/2007 EXPANSIÓN DEL PAIS VASCO - GENERAL
INFORMATION
BARAKALDO CITY COUNCIL ISSUED A
DECREE GRANTED PRIOR HEARING WITHIN 15 DAYS
TO FILE CLAIMS BEFORE
CLOSING THE COMPANY OF TARS BILBAINA. ALSO,
THE BASQUE GOVERNMENT AIR QUALITY
control E INVESTIGATE
THE CHEMICAL EXHAUST
FROM THE PAST 24/01/07
OCCURRED IN THE
AREA. AUTONOMOUS EXECUTIVE
AND WON A TARS BILBAINA OBLIGATION
OF COLLECTION OF
ALL GAS RELEASE POINTS AND DRIVING
TO A FILTER, AND PLACEMENT
OF A CONNECTED METER
INSTALLATION ORDER TO ANALYZE AND CONTROL EMISSIONS.
Complementary Information
Activity
Industrial focuses on distillation of coal tar from
coke oven batteries of the main European steel groups.
Financial Information
The balance sheet as at 31/12/2009 (Tank 2009) is available at INFORMS, 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 29/06/2011.
The shaded amounts in the following financial statements have been converted to the norms established in the PGC2007 derived from RD 1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises initiated from 1/01/08.
This theoretical conversion exercise has been carried out from the financial statements contained in the accounting information presented on the Mercantile Register, and elaborated under the accounting norms and principles collected in PGC90 derived from RD 1643/1990, not taking into account any other type of information; for this reason the conversion exercise could include certain inaccuracies.
SITUATION
BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
2.365.340,52 |
10,03 |
3.229.841,00 |
12,54 |
3.042.391,64 |
11,99 |
|
I. Intangible assets |
10.309,46 |
0,04 |
14.108,00 |
0,05 |
13.666,76 |
0,05 |
|
3. Patents, licences , trademarks and similars |
185,79 |
0,00 |
558,00 |
0,00 |
|
|
|
5. Software |
10.123,67 |
0,04 |
13.550,00 |
0,05 |
|
|
|
II. Tangible fixed assets |
1.857.390,33 |
7,88 |
2.727.443,00 |
10,59 |
2.964.715,74 |
11,68 |
|
1. Property, plant and equipment |
732.215,09 |
3,11 |
844.826,00 |
3,28 |
|
|
|
2. Technical fittings and other tangible assets |
1.125.175,24 |
4,77 |
1.882.617,00 |
7,31 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
19.964,23 |
0,08 |
5.982,00 |
0,02 |
6.390,83 |
0,03 |
|
1. Net worth instruments |
19.964,23 |
0,08 |
5.982,00 |
0,02 |
6.390,83 |
0,03 |
|
V. Long Term Financial Investments |
56.410,97 |
0,24 |
57.618,00 |
0,22 |
57.618,31 |
0,23 |
|
1. Net worth instruments |
1.117,86 |
0,00 |
2.325,00 |
0,01 |
57.618,31 |
0,23 |
|
5. Other financial assets |
55.293,11 |
0,23 |
55.293,00 |
0,21 |
|
|
|
VI. Assets by deferred taxes |
421.265,53 |
1,79 |
424.690,00 |
1,65 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
21.209.554,43 |
89,97 |
22.535.915,00 |
87,46 |
22.341.049,45 |
88,01 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
5.093.213,06 |
21,60 |
4.847.635,00 |
18,81 |
4.710.845,13 |
18,56 |
|
1. Goods available for sale |
138.495,00 |
0,59 |
481.600,00 |
1,87 |
|
|
|
2. Raw material inventory |
2.012.178,28 |
8,54 |
2.252.547,00 |
8,74 |
|
|
|
4. Finished goods |
2.942.539,78 |
12,48 |
2.113.488,00 |
8,20 |
|
|
|
b) Short production cycle |
2.942.539,78 |
12,48 |
2.113.488,00 |
8,20 |
|
|
|
III. Trade Debtors and other receivable accounts |
11.542.500,08 |
48,96 |
14.593.359,00 |
56,64 |
15.116.765,03 |
59,55 |
|
1. Clients |
11.292.538,22 |
47,90 |
14.331.473,00 |
55,62 |
14.803.959,54 |
58,32 |
|
b) Clients for sales and short term services
rendering |
11.292.538,22 |
47,90 |
14.331.473,00 |
55,62 |
|
|
|
2. Clients group and associated companies |
249.961,86 |
1,06 |
229.387,00 |
0,89 |
270.297,33 |
1,06 |
|
3. Other debts |
|
|
|
|
41.242,63 |
0,16 |
|
6. Other credits with the Public Administrations |
|
|
32.499,00 |
0,13 |
1.265,53 |
0,00 |
|
IV. Short term investments in associated and affiliated companies |
|
|
|
|
-4.169,39 |
-0,02 |
|
1. Net worth instruments |
|
|
|
|
-4.169,39 |
-0,02 |
|
V. Short term financial investments |
|
|
|
|
2.017.074,32 |
7,95 |
|
1. Net worth instruments |
|
|
|
|
2.017.074,32 |
7,95 |
|
VI. Short term periodifications |
21.865,17 |
0,09 |
16.731,00 |
0,06 |
9.172,56 |
0,04 |
|
VII. Cash and equivalents |
4.551.976,12 |
19,31 |
3.078.190,00 |
11,95 |
491.361,80 |
1,94 |
|
1. Treasury |
4.551.976,12 |
19,31 |
562.923,00 |
2,18 |
491.361,80 |
1,94 |
|
2. Other cash equivalents |
|
|
2.515.267,00 |
9,76 |
|
|
|
TOTAL ASSETS (A + B) |
23.574.894,95 |
100,00 |
25.765.756,00 |
100,00 |
25.383.441,09 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process “Goodwill”
have been identified for which there are not enough information so as to
conclude whether or not value deterioration adjustments are necessaries for this
exercise, nor could it be identified the amortization expenses for the
mentioned exercise. The amount of the Goodwill at the closing of the subsequent
exercise reaches %1.
In the conversion process there has
been estimated that the total item 124080 “Provisions” according to PGC90 is
associated to “Net Worth Instruments”.
In the conversion process there has
been estimated that the total item 143070 “Provisions on debtors” according to
PGC90, for %1, is associated to “Clients for sales and services rendering”.
In the conversion process there has
been estimated that the total item 144080 “Provisions” according to PGC90 is
associated to “Net Worth Instruments”.
Net Worth and Liabilities
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
11.204.312,12 |
47,53 |
10.550.385,00 |
40,95 |
7.881.952,15 |
31,05 |
|
A-1) Equity |
11.133.293,76 |
47,23 |
10.445.401,00 |
40,54 |
7.817.003,96 |
30,80 |
|
I. Capital |
1.171.973,60 |
4,97 |
1.171.974,00 |
4,55 |
1.171.973,60 |
4,62 |
|
1. Authorized capital |
1.171.973,60 |
4,97 |
1.171.974,00 |
4,55 |
1.171.973,60 |
4,62 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
9.093.427,66 |
38,57 |
6.751.676,00 |
26,20 |
3.796.586,96 |
14,96 |
|
1. Legal and statutory |
234.394,72 |
0,99 |
234.395,00 |
0,91 |
234.394,72 |
0,92 |
|
2. Other funds |
8.859.032,94 |
37,58 |
6.517.281,00 |
25,29 |
3.562.192,24 |
14,03 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
867.892,50 |
3,68 |
2.521.751,00 |
9,79 |
2.848.443,40 |
11,22 |
|
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 |
71.018,36 |
0,30 |
104.984,00 |
0,41 |
64.948,19 |
0,26 |
|
B) NON CURRENT LIABILITIES |
3.736.183,50 |
15,85 |
4.024.324,00 |
15,62 |
2.352.495,40 |
9,27 |
|
I. Long term provisions |
1.500.000,00 |
6,36 |
1.500.000,00 |
5,82 |
|
|
|
4. Other provisions |
1.500.000,00 |
6,36 |
1.500.000,00 |
5,82 |
|
|
|
II. Long term debts |
1.994.371,17 |
8,46 |
2.202.290,00 |
8,55 |
2.071.254,57 |
8,16 |
|
2. Debts with bank entities |
1.836.457,84 |
7,79 |
1.907.347,00 |
7,40 |
1.679.995,71 |
6,62 |
|
5. Other financial liabilities |
157.913,33 |
0,67 |
294.943,00 |
1,14 |
391.258,86 |
1,54 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
241.812,33 |
1,03 |
322.034,00 |
1,25 |
246.004,83 |
0,97 |
|
V. Long term periodifications |
|
|
|
|
35.236,00 |
0,14 |
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
8.634.399,33 |
36,63 |
11.191.047,00 |
43,43 |
15.148.993,54 |
59,68 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
424.048,00 |
1,80 |
545.676,00 |
2,12 |
|
|
|
III. Short term debts |
4.628.749,80 |
19,63 |
4.303.560,00 |
16,70 |
7.710.100,73 |
30,37 |
|
2. Debts with bank entities |
4.469.897,06 |
18,96 |
4.146.511,00 |
16,09 |
7.710.100,73 |
30,37 |
|
5. Other financial liabilities |
158.852,74 |
0,67 |
157.049,00 |
0,61 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
1.204.345,00 |
4,67 |
|
|
|
V. Trade creditors and other payable accounts |
3.581.601,53 |
15,19 |
5.137.466,00 |
19,94 |
7.438.892,81 |
29,31 |
|
1. Suppliers |
2.733.731,51 |
11,60 |
4.619.422,00 |
17,93 |
5.190.831,83 |
20,45 |
|
b) Short term suppliers |
2.733.731,51 |
11,60 |
4.619.422,00 |
17,93 |
|
|
|
2. Suppliers group and associated companies |
140.189,95 |
0,59 |
9.090,00 |
0,04 |
1.137.010,38 |
4,48 |
|
3. Different creditors |
167.509,04 |
0,71 |
389.383,00 |
1,51 |
|
|
|
4. Staff (pending remunerations) |
1.422,01 |
0,01 |
1.179,00 |
0,00 |
19.591,69 |
0,08 |
|
5. Liabilities by current taxes |
396.860,13 |
1,68 |
|
|
|
|
|
6. Other debts with Public Administrations |
141.888,89 |
0,60 |
118.392,00 |
0,46 |
1.091.458,91 |
4,30 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
23.574.894,95 |
100,00 |
25.765.756,00 |
100,00 |
25.383.441,09 |
100,00 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to
assets and liabilities by deferred taxes has changed substantially and, for this
reason the conversion of financial statements of the formulation exercise of
the accounts to PGC2007 could include certain inaccuracies. The company
maintained in this and the subsequent exercise a long term balance with Public
Administrations for %1 and %2.
In the conversion process there has
been made the assumption that the creditors balance with the group and
associated companies have a financial and not commercial character.
In the conversion process there has
been made the assumption that the creditors balance with the group and
associated companies have a commercial and not financial character.
In the conversion process it has not
been possible to breakdown the composition of liabilities originated by debts
with the public administrations; for this reason the mentioned amounts are
presented fully aggregated in the item “other debts with the public
administrations”
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
31.316.189,05 |
99,92 |
50.745.007,00 |
99,95 |
48.751.912,12 |
99,69 |
|
A) Sales |
31.316.189,05 |
99,92 |
50.745.007,00 |
99,95 |
48.750.212,60 |
99,69 |
|
b) Services provided |
|
|
|
|
1.699,52 |
0,00 |
|
2. Variation in stocks of finished goods and work in progress |
829.051,69 |
2,65 |
609.490,00 |
1,20 |
910.687,06 |
1,86 |
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-19.602.778,79 |
-62,55 |
-32.466.681,00 |
-63,95 |
-33.410.384,70 |
-68,32 |
|
a) Material consumed |
-343.105,00 |
-1,09 |
-2.697.007,00 |
-5,31 |
-2.613.992,51 |
-5,35 |
|
b) Raw materials consumed |
-19.259.673,79 |
-61,45 |
-29.388.526,00 |
-57,89 |
-30.796.392,19 |
-62,97 |
|
d) Deterioration on merchandises, raw materials and other supplies |
|
|
-381.148,00 |
-0,75 |
|
|
|
5. Other operating income |
25.661,78 |
0,08 |
24.301,00 |
0,05 |
151.875,80 |
0,31 |
|
a) Other incomes |
14.974,02 |
0,05 |
14.733,00 |
0,03 |
141.992,07 |
0,29 |
|
b) Operating grants included in the exercise result |
10.687,76 |
0,03 |
9.568,00 |
0,02 |
9.883,73 |
0,02 |
|
6. Labour cost |
-2.004.971,01 |
-6,40 |
-1.982.746,00 |
-3,91 |
-1.921.939,15 |
-3,93 |
|
a) Wages and similar expenses |
-1.518.611,42 |
-4,85 |
-1.508.484,00 |
-2,97 |
|
|
|
b) Social costs |
-486.359,59 |
-1,55 |
-474.262,00 |
-0,93 |
|
|
|
7. Other operating costs |
-8.201.371,42 |
-26,17 |
-12.170.579,00 |
-23,97 |
-9.021.753,72 |
-18,45 |
|
a) External services |
-8.234.761,24 |
-26,27 |
-10.101.272,00 |
-19,90 |
-8.898.697,01 |
-18,20 |
|
b) Taxes |
-85.718,28 |
-0,27 |
-71.734,00 |
-0,14 |
-73.505,70 |
-0,15 |
|
c) Losses, deterioration and variation on business operations
provisions |
121.628,00 |
0,39 |
-1.995.072,00 |
-3,93 |
-49.483,66 |
-0,10 |
|
d) Other day to day expenses |
-2.519,90 |
-0,01 |
-2.501,00 |
0,00 |
-67,35 |
0,00 |
|
8. Amortization of fixed assets |
-1.036.790,01 |
-3,31 |
-1.134.381,00 |
-2,23 |
-1.196.869,05 |
-2,45 |
|
9. Allocation of subventions on non financial investments and other |
47.174,00 |
0,15 |
50.267,00 |
0,10 |
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
24.996,00 |
0,05 |
-553,06 |
0,00 |
|
a) Deteriorations and losses |
|
|
|
|
-553,06 |
0,00 |
|
b) Results for disposals and others |
|
|
24.996,00 |
0,05 |
|
|
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
2.282,70 |
0,01 |
-10.462,00 |
-0,02 |
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
1.374.447,99 |
4,39 |
3.689.212,00 |
7,27 |
4.262.975,30 |
8,72 |
|
14. Financial income |
45.319,56 |
0,14 |
80.072,00 |
0,16 |
60.317,37 |
0,12 |
|
b) From negotiable values and other financial instruments |
45.319,56 |
0,14 |
80.072,00 |
0,16 |
16.328,25 |
0,03 |
|
b 2) From third parties |
45.319,56 |
0,14 |
80.072,00 |
0,16 |
16.328,25 |
0,03 |
|
c) Allocation of financial legacies, grants and subventions |
|
|
|
|
43.989,12 |
0,09 |
|
15. Financial expenses |
-208.461,34 |
-0,67 |
-342.753,00 |
-0,68 |
-495.362,64 |
-1,01 |
|
b) For debts with third parties |
-208.461,34 |
-0,67 |
-342.753,00 |
-0,68 |
-495.362,64 |
-1,01 |
|
16. Reasonable value variation on financial instruments |
25.417,33 |
0,08 |
-5.733,00 |
-0,01 |
|
|
|
b) Allocation to the exercise result for financial assets available
for sale |
25.417,33 |
0,08 |
-5.733,00 |
-0,01 |
|
|
|
17. Exchange differences |
-29.282,49 |
-0,09 |
-31.548,00 |
-0,06 |
-11.248,46 |
-0,02 |
|
18. Deterioration and result for disposal of financial instruments |
13.981,90 |
0,04 |
-40.458,00 |
-0,08 |
-4.169,39 |
-0,01 |
|
a) Deteriorations and losses |
|
|
-408,00 |
0,00 |
-4.169,39 |
-0,01 |
|
b) Results for disposals and others |
13.981,90 |
0,04 |
-40.050,00 |
-0,08 |
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-153.025,04 |
-0,49 |
-340.420,00 |
-0,67 |
-450.463,12 |
-0,92 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
1.221.422,95 |
3,90 |
3.348.792,00 |
6,60 |
3.812.512,18 |
7,80 |
|
20. Taxes on profits |
-353.530,45 |
-1,13 |
-827.041,00 |
-1,63 |
-964.068,78 |
-1,97 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
867.892,50 |
2,77 |
2.521.751,00 |
4,97 |
2.848.443,40 |
5,82 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
867.892,50 |
2,77 |
2.521.751,00 |
4,97 |
2.848.443,40 |
5,82 |
Alerts associated to the conversion to PGC2007
Valuation norms applicable to Financial
instruments collected in PGC2007 present notable changes with respect to PGC90.
As a consequence, the conversion of the financial statements of the accounts to
PGC2007, carried out considering mainly classification changes in the accounts
might contain certain inaccuracies.
In the financial statements conversion
process of the accounts formulation exercise to PGC2007 it could not be
identified the amount of discounts on sales for prompt payment that under
PGC2007 are registered reducing sales and not as a financial expense.
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
867.892,50 |
2.521.751,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
|
32.499,00 |
|
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 |
|
-9.100,00 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
|
23.399,00 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
|
-50.267,00 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
|
14.074,00 |
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
|
-36.193,00 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
867.892,50 |
2.508.957,00 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
EXERCISE RESULT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
1.171.974,00 |
3.796.587,00 |
2.848.443,00 |
|
|
I. Adjustments by change of criteria in the exercise (2007) |
|
106.646,00 |
|
117.778,00 |
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
1.171.974,00 |
3.903.233,00 |
2.848.443,00 |
117.778,00 |
|
I. Total recognized income and expenses |
|
|
2.521.751,00 |
-12.794,00 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
2.848.443,00 |
-2.848.443,00 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
1.171.973,60 |
6.751.676,36 |
2.521.751,30 |
104.984,04 |
|
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) |
1.171.973,60 |
6.751.676,36 |
2.521.751,30 |
104.984,04 |
|
I. Total recognized income and expenses |
|
|
867.892,50 |
|
|
II. Operations with partners or owners |
|
-180.000,00 |
|
|
|
4. (-) Dividends distribution |
|
-180.000,00 |
|
|
|
III. Other net worth variations |
|
2.521.751,30 |
-2.521.751,30 |
-33.965,68 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
1.171.973,60 |
9.093.427,66 |
867.892,50 |
71.018,36 |
|
NET WORTH CHANGES ( 3 /3) |
TOTAL |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
7.817.004,00 |
|
||
|
I. Adjustments by change of criteria in the exercise (2007) |
224.424,00 |
|
||
|
II. Adjustments by errors in the exercise (2007) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
8.041.428,00 |
|
||
|
I. Total recognized income and expenses |
2.508.957,00 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
10.550.385,30 |
|
||
|
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) |
10.550.385,30 |
|
||
|
I. Total recognized income and expenses |
867.892,50 |
|
||
|
II. Operations with partners or owners |
-180.000,00 |
|
||
|
4. (-) Dividends distribution |
-180.000,00 |
|
||
|
III. Other net worth variations |
-33.965,68 |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
11.204.312,12 |
|
||
CASH FLOW STATUS
Figures given in €
|
|
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
1. exercise result before taxes |
1.221.423,00 |
3.348.792,00 |
|
2. Results adjustments |
991.731,00 |
3.744.210,00 |
|
a) Amortization of fixed assets (+) |
1.036.790,00 |
1.134.381,00 |
|
b) Value correction for deterioration (+/-) |
|
381.148,00 |
|
c) Change of Provisions (+/-) |
-121.628,00 |
1.995.072,00 |
|
d) Grants allocation (-) |
-47.174,00 |
-50.267,00 |
|
e) Results for decline and disposal of fixed assets (+/-) |
|
-24.996,00 |
|
f) Results for decline and disposal of financial instruments (+/-) |
-13.982,00 |
40.458,00 |
|
g) Financial income (-) |
-71.944,00 |
-80.072,00 |
|
f) Financial expenses (+) |
208.462,00 |
342.753,00 |
|
j) Reasonable value variation on financial instruments (+/-) |
1.207,00 |
5.733,00 |
|
3. Changes in current capital |
647.423,00 |
-1.224.065,00 |
|
a) Stocks (+/-) |
-245.579,00 |
-517.938,00 |
|
b) Debtors and other receivable accounts (+/-) |
3.050.859,00 |
670.260,00 |
|
c) Other current assets (+/-) |
-5.133,00 |
-7.558,00 |
|
d) Creditors and other payable accounts (+/-) |
-1.952.724,00 |
-727.627,00 |
|
e) Other current liabilities (+/-) |
|
-641.202,00 |
|
4. Other cash flow coming from operating activities |
-1.361.123,00 |
-1.102.531,00 |
|
a) Interests payments (-) |
-208.462,00 |
-342.753,00 |
|
c) Interests collections (+) |
63.138,00 |
80.072,00 |
|
d) Collections (payments) for profit tax (+/-) |
-1.215.799,00 |
-839.850,00 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
1.699.454,00 |
4.766.406,00 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-162.939,00 |
-853.885,00 |
|
b) Intangible assets |
-8.508,00 |
-14.568,00 |
|
c) Tangible assets |
-154.431,00 |
-839.317,00 |
|
7. Disinvestment collections (+) |
|
25.896,00 |
|
c) Tangible assets |
|
25.896,00 |
|
8. Cash Flow in investment activities (6 + 7) |
-162.939,00 |
-827.989,00 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
|
32.499,00 |
|
e) Received legacies, grants and subventions (+) |
|
32.499,00 |
|
10. Financial liabilities instruments collections and payments |
117.271,00 |
-3.396.993,00 |
|
a) Issue |
252.497,00 |
600.000,00 |
|
2. Debts with bank entities (+) |
252.497,00 |
600.000,00 |
|
b) Return and amortization of |
-135.226,00 |
-3.996.993,00 |
|
2. Debts with bank entities (-) |
|
-3.936.238,00 |
|
5. Other debts (-) |
-135.226,00 |
-60.755,00 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
-180.000,00 |
|
|
a) Dividends (-) |
-180.000,00 |
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-62.729,00 |
-3.364.494,00 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
1.473.786,00 |
573.923,00 |
|
Cash or equivalents at the beginning of the exercise |
3.078.190,00 |
2.504.267,00 |
|
Cash or equivalents at the end of the exercise |
4.551.976,00 |
3.078.190,00 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
12.575.155,10 |
10,84 |
11.344.868,00 |
57,74 |
7.192.055,91 |
|
Working capital ratio |
0,53 |
20,45 |
0,44 |
57,14 |
0,28 |
|
Soundness Ratio |
4,71 |
45,82 |
3,23 |
25,68 |
2,57 |
|
Average Collection Period (days) |
133 |
28,12 |
104 |
-7,10 |
112 |
|
Average Payment Period (days) |
46 |
-9,15 |
51 |
-18,86 |
63 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
245,64 |
21,98 |
201,38 |
36,55 |
147,48 |
|
Quick Ratio (%) |
52,72 |
91,64 |
27,51 |
66,12 |
16,56 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
28,09 |
-6,12 |
29,92 |
-22,35 |
38,53 |
|
External Financing Average Cost |
0,03 |
-25,00 |
0,04 |
-20,00 |
0,05 |
|
Debt Service Coverage |
3,90 |
140,74 |
1,62 |
-33,06 |
2,42 |
|
Interest Coverage |
6,59 |
-38,75 |
10,76 |
24,97 |
8,61 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
5,43 |
-42,17 |
9,39 |
13,13 |
8,30 |
|
Auto financing generated by Assets (%) |
7,21 |
-61,03 |
18,50 |
16,06 |
15,94 |
|
Breakdown Point |
1,05 |
-2,78 |
1,08 |
-1,82 |
1,10 |
|
Average Sales Volume per Employee |
671.013,26 |
-38,29 |
1.087.315,34 |
4,82 |
1.037.274,73 |
|
Average Cost per Employee |
42.960,60 |
1,12 |
42.484,38 |
3,89 |
40.892,32 |
|
Assets Turnover |
1,33 |
-32,49 |
1,97 |
2,60 |
1,92 |
|
Inventory Turnover (days) |
94 |
74,50 |
54 |
5,67 |
51 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
5,83 |
-59,29 |
14,32 |
-14,71 |
16,79 |
|
Operating Profitability (%) |
10,23 |
-45,64 |
18,82 |
-12,51 |
21,51 |
|
Return on Equity (ROE) (%) |
10,97 |
-65,78 |
32,06 |
-34,26 |
48,77 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
10,03 |
42,44 |
-32,41 |
|
A) CURRENT ASSETS |
89,97 |
57,56 |
32,41 |
|
LIABILITIES |
|||
|
A) NET WORTH |
47,53 |
51,82 |
-4,29 |
|
B) NON CURRENT LIABILITIES |
15,85 |
13,77 |
2,08 |
|
C) CURRENT LIABILITIES |
36,63 |
34,41 |
2,22 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,92 |
98,59 |
1,33 |
|
Other operating income |
0,08 |
1,41 |
-1,33 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-62,55 |
-59,33 |
-3,22 |
|
Variation in stocks of finished goods and work in progress |
2,65 |
0,24 |
2,41 |
|
GROSS MARGIN |
40,10 |
40,91 |
-0,81 |
|
Other operating costs |
-26,17 |
-17,55 |
-8,62 |
|
Labour cost |
-6,40 |
-14,16 |
7,76 |
|
GROSS OPERATING RESULT |
7,54 |
9,20 |
-1,66 |
|
Amortization of fixed assets |
-3,31 |
-3,26 |
-0,05 |
|
Deterioration and result for fixed assets disposal |
|
-0,14 |
|
|
Other expenses / income |
|
0,17 |
|
|
NET OPERATING RESULT |
4,39 |
5,97 |
-1,58 |
|
Financial result |
-0,49 |
-0,47 |
-0,02 |
|
RESULT BEFORE TAX |
3,90 |
5,50 |
-1,60 |
|
Taxes on profits |
-1,13 |
-1,46 |
0,33 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
2,77 |
4,04 |
-1,27 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
2,77 |
4,04 |
-1,27 |
|
Amortization of fixed assets |
-3,31 |
-3,26 |
-0,05 |
|
Deterioration and provisions variation |
0,39 |
-1,78 |
2,17 |
|
|
5,69 |
9,08 |
-3,39 |
Main Ratios
Figures given in €
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
12.575.155,10 |
1.176.981,00 |
2.548.000,00 |
5.036.193,00 |
|
Working capital ratio |
0,53 |
0,11 |
0,22 |
0,39 |
|
Soundness Ratio |
4,71 |
0,87 |
1,42 |
2,04 |
|
Average Collection Period (days) |
133 |
83 |
104 |
126 |
|
Average Payment Period (days) |
46 |
79 |
103 |
135 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
245,64 |
123,25 |
167,51 |
253,14 |
|
Quick Ratio (%) |
52,72 |
4,80 |
16,29 |
33,89 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
28,09 |
4,09 |
20,38 |
35,68 |
|
External Financing Average Cost |
0,03 |
0,02 |
0,03 |
0,05 |
|
Debt Service Coverage |
3,90 |
0,43 |
2,36 |
4,70 |
|
Interest Coverage |
6,59 |
2,52 |
7,99 |
30,85 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
5,43 |
3,56 |
6,21 |
10,20 |
|
Auto financing generated by Assets (%) |
7,21 |
4,51 |
7,05 |
11,56 |
|
Breakdown Point |
1,05 |
1,03 |
1,05 |
1,11 |
|
Average Sales Volume per Employee |
671.013,26 |
243.254,98 |
306.596,94 |
438.529,55 |
|
Average Cost per Employee |
42.960,60 |
37.651,40 |
43.453,54 |
52.151,98 |
|
Assets Turnover |
1,33 |
0,92 |
1,26 |
1,56 |
|
Inventory Turnover (days) |
94 |
48 |
64 |
85 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
5,83 |
3,20 |
6,50 |
10,90 |
|
Operating Profitability (%) |
10,23 |
6,04 |
9,02 |
14,13 |
|
Return on Equity (ROE) (%) |
10,97 |
5,37 |
12,05 |
21,43 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.67 |
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.