MIRA INFORM REPORT
|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
LABORATORIOS SALVAT SA |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
23.05.1955 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of pharmaceutical preparations |
|
|
|
|
No. of Employees : |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 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 |
|
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
LABORATORIOS SALVAT SA
CIF/NIF: A08095762
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: LABORATORIOS SALVAT SA
Commercial name: LABORATORIOS DOM, S.L.; LABORATORIOS
S.A.L.V.A.T. S.A.
Other names: YES
Current Address: CALLE GALL, 30 -36
08950 ESPLUGUES DE LLOBREGAT BARCELONA
Branches: 4
Telephone number: 933946400 Fax: 934732292
URL: www.salvatbiotech.com
Corporate e-mail: salvatbiotech@salvatbiotech.com
Trade Risk
Incidents: NO
R.A.I.: NO
Financial Information
Latest sales known (2013): 39.827.794,80
€ (Forecast)
Balance sheet latest sales (2011): 39.803.908,88 € (Mercantile Register)
Result: 2.392.955,76 €
Total Assets: 34.266.999,89 €
Share capital: 2.000.000,00 €
Employees: 271
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 23/05/1955
Activity: Mfg. of pharm. Preparations
NACE 2009 CODE: 2120
International Operations: Imports and Exports
Corporate Structure
President:
Parent Company:
Participations: 6
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2011
Latest act published in BORME: 19/06/2013 Resignations
Latest press article: 15/01/2013 EXPANSIÓN DE
CATALUÑA (PRINCIPALS)
Bank Entities: There are
Financial situation
|
Exercise:2011 |
|
|||
|
Immediate
liquidity |
|
Very good |
|
|
|
Indebtedness |
|
Slight |
|
|
|
Profitability |
|
Good |
|
|
|
Soundness |
|
Good |
|
|
Performance
|
Incidents |
|
None or Negligible |
|
Business
Trajectory |
|
Excellent |
Rating Explanation
Financial situation
•
The company’s financial situation is normal.
•
The sales evolution and results has
been negative.
•
The auditor’s opinion about the latest accounts has
been favourable.
Company Structure
•
The company’s capitalization degree determines that
its structure is sound.
•
The company’s size is medium depending
on its sales volume.
•
The employees evolution has been positive.
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 |
|
30/11/2012 |
Reduction |
13 |
•
There has been a change in the formula version. |
|
21/09/2012 |
Reduction |
14 |
•
New financial statements have been uploaded. |
|
27/10/2011 |
Increase |
17 |
•
New financial statements have been uploaded. |
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered.
AFFECTED BY: No significant element.
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
22/08/2013 08:08:22
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 |
12.614.042,93 |
36,81 |
12.735.551,75 |
34,78 |
16.189.124,92 |
42,48 |
|
B) CURRENT ASSETS |
21.652.956,96 |
63,19 |
23.878.351,84 |
65,22 |
21.924.491,07 |
57,52 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
17.824.765,85 |
52,02 |
18.431.810,09 |
50,34 |
17.859.593,20 |
46,86 |
|
B) NON CURRENT LIABILITIES |
7.575.848,10 |
22,11 |
9.180.497,10 |
25,07 |
11.286.048,65 |
29,61 |
|
C) CURRENT LIABILITIES |
8.866.385,94 |
25,87 |
9.001.596,40 |
24,59 |
8.967.974,14 |
23,53 |
Profit and loss account analysis
Figures given in €
|
|
2013 FORECAST |
2012 ESTIMATED |
31/12/2011 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
39.827.794,80 |
39.815.850,05 |
39.803.908,88 |
|
43.593.585,51 |
|
|
GROSS MARGIN |
|
|
35.152.768,53 |
88,31 |
38.400.289,40 |
88,09 |
|
EBITDA |
|
|
4.468.140,84 |
11,23 |
6.600.635,82 |
15,14 |
|
EBIT |
|
|
2.532.244,59 |
6,36 |
3.397.283,81 |
7,79 |
|
NET RESULT |
|
|
2.392.955,76 |
6,01 |
3.359.671,40 |
7,71 |
|
EFFECTIVE TAX RATE (%) |
|
|
14,15 |
0,00 |
14,49 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
36,81 |
54,20 |
-17,39 |
|
A) CURRENT ASSETS |
63,19 |
45,80 |
17,39 |
|
LIABILITIES |
|||
|
A) NET WORTH |
52,02 |
49,56 |
2,46 |
|
B) NON CURRENT LIABILITIES |
22,11 |
18,28 |
3,83 |
|
C) CURRENT LIABILITIES |
25,87 |
32,16 |
-6,29 |
|
|
|
|
|
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
93,87 |
94,16 |
-0,29 |
|
GROSS MARGIN |
82,90 |
63,35 |
19,55 |
|
EBITDA |
10,54 |
14,17 |
-3,63 |
|
EBIT |
5,97 |
8,35 |
-2,38 |
|
NET RESULT |
5,64 |
5,95 |
-0,31 |
Sector Composition
Compared sector (NACE 2009): 212
Number of companies: 45
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 2011
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
2.392.955,76 |
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 |
2.392.955,76 |
|
Total of Amounts to be distributed |
2.392.955,76 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
2.392.955,76 |
Auditing
Source: filing of annual financial statement 2011
Auditors’ opinion: FAVOURABLE
Auditor: ALTER B.G. AUDITORS S.L.
Auditing fees: 20.000,00 €
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 GALL, 30 -36
08950 ESPLUGUES
DE LLOBREGAT BARCELONA
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE COSTA DE MARFIL, 1 |
04009 |
ALMERIA |
Almería |
|
CALLE CASP, 139 |
08013 |
BARCELONA |
Barcelona |
|
CALLE MANEL FARRES, 107 |
08173 |
SANT CUGAT DEL VALLES |
Barcelona |
|
CALLE VALENCIA, 230 |
08007 |
BARCELONA |
Barcelona |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Governing body : 10 members (latest change:
21/02/2013) Other Positions : 8 (latest change: 21/02/2013) Auditor : 1 (latest change: 25/02/2009) Operative Board Members : 7 (latest change: 15/01/2013) Non-current positions : 17 (latest change: 11/06/2013) |
|
|
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
PERIS MUSSO, JAVIER |
21/02/2013 |
|
MANAGING DIRECTOR |
MARTINEZ MARIÑOSA, JOSE |
21/02/2013 |
|
MEMBER OF THE BOARD |
SOTO IBAÑEZ, VICENTE |
21/02/2013 |
|
MEMBER OF THE BOARD |
GONZALEZ GALLEGO, RODOLFO |
21/02/2013 |
|
MEMBER OF THE BOARD |
REGANY TERRADELLAS, MERCEDES |
21/02/2013 |
|
MEMBER OF THE BOARD |
PERIS PALLARES, HUGO |
21/02/2013 |
|
MEMBER OF THE BOARD |
BUENO GALLEGO, MANUEL ALBERTO |
21/02/2013 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
ALTER B G AUDITORS SL |
25/02/2009 |
Board members remuneration
Source: Annual
financial report 2011
Board
members remuneration: 80.189,76 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
BUENO, ALBERTO |
|
Financial Manager |
IGLESIAS XIFRE, XAVIER |
|
Human Resources Director |
CASAS, MERITXELL |
|
Commercial Director |
BEHRENDT, JÖRG |
|
Exports Director |
VIAYNA CARDONA, CRISTINA |
|
Imports Director |
VIAYNA CARDONA, CRISTINA |
|
R&D Director |
LAGUNAS, CARMEN |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
IMPERIA P SL |
B59927913 |
99,80 |
OWN SOURCES |
26/08/2013 |
Majority shareholder of IMPERIA P SL
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MUSSO BORRAS ELVIRA MARIA TERESA |
|
78,16 |
STOCK EXCH. |
01/10/2004 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MUSSO BORRAS ELVIRA MARIA TERESA |
|
65,60 |
OWN SOURCES |
20/11/2007 |
|
|
PERIS MUSSO JAVIER |
|
Indef. |
OWN SOURCES |
20/11/2007 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SALVAT USA INC |
UNITED STATES |
100,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
SALVAT BIOTECH SA |
A08334195 |
98,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
LABORATORIOS DOMO SL |
B08127946 |
93,75 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
URQUIJO SBP GLOBAL 7 SA SICAV |
A62129010 |
25,26 |
OWN SOURCES |
08/10/2010 |
|
|
EDM RENTA FONDO DE INVERSION |
V60647633 |
Indef. |
MERCANTILE REGISTER |
18/04/2011 |
|
|
BANCO DE SABADELL SA |
A08000143 |
Indef. |
OWN SOURCES |
08/10/2010 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LABORATORIOS DOM SL (EXTINGUIDA) |
B60678539 |
93,75 |
B.O.R.M.E. |
09/03/2011 |
|
|
INVERDOCUN ACTIUS MOBILIARIS SICAV SA (EXTINGUIDA) |
A62241757 |
81,23 |
MERCANTILE REGISTER |
18/04/2011 |
|
|
SABADELL URQUIJO GLOBAL 1 SICAV SA. |
A61224630 |
Indef. |
OWN SOURCES |
05/09/2008 |
Company with rating inferior to 7
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”JAVIER PERIS MUSSO”
|
COMPANY |
POSITION |
PROVINCE |
|
YEGUADA MONTRUBI SL |
Administrador Único |
BARCELONA |
|
HERETAT MONT RUBI SA |
Administrador Único |
BARCELONA |
|
SALVAT BIOTECH SA |
Administrador Único |
BARCELONA |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”LABORATORIOS SALVAT SA”
URL: www.salvatbiotech.com
SALVAT 07/03/2013. SALVAT lanza Cetraflux, el primer ciprofloxacino
oftálmico estéril y sin conservantes. ... 04/09/12 Laboratorios SALVAT, S.A.
anunc... 04/09/12 Ya ...
URL: www.bioportfolio.com
Laboratorios Salvat, S.A Company Profile - BioPortfolio
Laboratorios Salvat, S.A company data, news, contact details and stock
information. SALVAT forms part of an independent, wholly Spanish owned, ...
URL: www.vademecum.com
Laboratorio farmacéutico Salvat, S.A. España : Vademecum 2 Ago 2011
... laboratorio farmacéutico Salvat, S.A. España. Dirección y datos de
contacto.
BUSINESS INFORMATION
Incorporation date: 23/05/1955
Establishment date: 01/01/1955
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Code: 1254200
Activity: Mfg. of pharm. Preparations
NACE 2009 CODE: 2120
NACE 2009 Activity: Manufacture of pharmaceutical preparations
Business: INDUSTRIA DE LABORATORIO QUIMICO FARMACEUTICO.
Activity description: Laboratorios farmaceuticos.
Latest employees figure: 271 (2013)
% of fixed employees: 95,94%
% of temporary employees: 4,06%
% of men: 46,30%
% of women: 53,70%
Employees evolution
|
|
|
|
Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Gender distribution |
|
125 |
145 |
•
El 63,32% de su cifra de negocio corresponde a
venta productos terminados.
•
El 30,88% de su cifra de negocio corresponde a
ingreso por venta de productos en licencias.
•
El 3,83% de su cifra de negocio corresponde a
prestación de servicios.
•
El 1,84% de su cifra de negocio corresponde a
ingreso por down payment licencias.
•
El 0,12% de su cifra de negocio corresponde a
ingreso por royaltíes.
•
El 0,01% de su cifra de negocio corresponde a
ingreso por servicios prestados.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO DE SABADELL, S.A. |
0045 |
CR CORNELLA 000067 |
ESPLUGUES DE LLOBREGAT |
Barcelona |
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
|
|
Inmovilizado material. |
189.179,82 |
753.998,03 |
Grants
|
|
|
|
Body-entity: MINISTERIO DE INDUSTRIA Grant type: To
technology and innovation (IT, R&D, etc) Granting year: 2011 |
Nominal amount: 18.077,04 € Amount received in the
exercise: 18.077,04 € Amount pending collection:
0,00 € Source: Filed
Accounts (2011) |
|
Operation description: Investigación y desarrollo. |
|
|
|
|
|
Body-entity: FUNDACIÓN GENOMA Grant type: To
technology and innovation (IT, R&D, etc) Granting year: 2011 |
Nominal amount: 2.800,00 € Amount received in the
exercise: 2.800,00 € Amount pending collection:
0,00 € Source: Filed
Accounts (2011) |
|
Operation description: Investigación y desarrollo. |
|
|
|
|
|
Body-entity: SERVICIO PÚBLICO EMPLEO ESTATAL Grant type: For
employees training Granting year: 2011 |
Nominal amount: 19.155,00 € Amount received in the
exercise: 19.155,00 € Amount pending collection:
0,00 € Source: Filed
Accounts (2011) |
|
Operation description: Formación de personal. |
|
|
|
|
FORMER NAMES:
•
SUEROS ANTIBIOTICOS Y LABORATORIO DE VACUNOTERAPIA
SA
•
LABORATORIOS SALVAT SL
Brand name: HYDRANAS (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 16/01/2013
Brand name: EBERNET M (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 14/01/2013
Brand name: SALVAT (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 30/07/2012
Brand name: LABORATORIOS SALVAT (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 30/07/2012
Brand name: CETRAFLUX (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 07/06/2012
LEGAL STRUCTURE
Constitution Data
Register Date: 23/05/1955
Legal form: Joint-stock Company
Share capital: 2.000.000,00 €
Paid-up capital: 2.000.000,00 €
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: 47 (Last: 19/06/2013, first:
24/05/1990)
Acts on capital: 3 (Last: 29/02/2000, first:
17/07/1991)
Acts on creation: 0
Acts on filed accounts: 22 (Last: 08/11/2011, first:
26/12/1990)
Acts on identification: 3 (Last: 19/11/2008, first:
25/07/1991)
Acts on Information: 2 (Last: 04/05/2006, first:
01/03/1999)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Resignations |
19/06/2013 |
279775 |
Barcelona |
|
Resignations |
08/03/2013 |
114986 |
Barcelona |
|
Appointments |
04/03/2013 |
105356 |
Barcelona |
|
Appointments |
04/03/2013 |
105355 |
Barcelona |
|
Resignations |
04/03/2013 |
105355 |
Barcelona |
|
Appointments |
23/01/2012 |
30004 |
Barcelona |
|
Resignations |
10/01/2012 |
10950 |
Barcelona |
|
Annual Filed Accounts (2010) |
08/11/2011 |
908316 |
Barcelona |
|
Appointments |
08/03/2011 |
104938 |
Barcelona |
|
Resignations |
08/03/2011 |
104937 |
Barcelona |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 3 (Last: 15/01/2013, first: 17/10/2008)
Informative data: 7 (Last: 15/01/2013, first: 17/10/2008)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 14 (Last: 28/09/2006, first: 01/06/1996)
Latest press article published
15/01/2013 EXPANSIÓN DE CATALUÑA - PRINCIPALS
Alberto Bueno was incorporated on 07/01/13 at LABORATORIES gral Salvat
as new director,
15/01/2013 EXPANSIÓN DE CATALUÑA - GENERAL
INFORMATION
Salvat LABORATORIES has embarked on international expansion plan, which
passes into 30 new markets in the coming months through alliances with local
partners. Salvat only has a foreign subsidiary, located in Miami (USA) since
2009. Salvat spends between 15% and 20% of its turnover and more than 15% of
its staff to research projects, many of them channeled through its subsidiary
Salvat BIOTECH, created in 2004.
13/12/2012 EXPANSIÓN DE CATALUÑA - PRINCIPALS
La pharmaceutical SALVAT has signed Kenneth Weissmahr as director of
innovation.
03/12/2012 EXPANSIÓN DE CATALUÑA - GENERAL
INFORMATION
The ICS has been awarded for the first time in a single contract all
exclusive drug purchase their hospitals and primary care centers. The award
amounted to 12.25 million, and among the main bidders is Biogen, which will
supply hospitals Tysabri ICS. The second highest bidder is the British SHIRE,
which will supply 1.65 million antihistamines. HEALTHCARE VIIV ranks third with
its fámacos for AIDS, and between GES include GENERIC SPANISH Spanish and KERN
PHARMA.
PHARMA MAR has achieved the largest contract a Spanish biotechnology
with Yondelis. Other beneficiaries are GRIFOLS, ALMIRALL, Salvat and ERN.
23/01/2012 EXPANSIÓN DEL PAIS VASCO - AGREEMENTS
BETWEEN COMPANIES
FAES FARMA has signed an agreement with LABORATORIES for marketing
Salvat 3 products of this co. in 5 countries of South America in which the CIA.
Basque and has direct commercial presence. Salvat is present in over 50
countries in collaboration with companies of international repute. Salvat's
covenant is part of FAES expansion project, as it will allow complete product
portfolio which already markets themselves in the area
Complementary Information
Financial Information
The balance sheet as at 31/12/2009 (Tank 2009) is available, but there
is data in the new financial statements presented incorrectly.
The balance sheet as at 31/12/2008 (Tank 2008) is available, but there
is data in the new financial statements presented incorrectly.
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Mercantile Register file of the legal address of
the Company and dated 21/09/2012.
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 |
12.614.042,93 |
36,81 |
12.735.551,75 |
34,78 |
16.189.124,92 |
42,48 |
|
I. Intangible assets |
5.304.424,40 |
15,48 |
3.344.689,97 |
9,14 |
3.877.294,94 |
10,17 |
|
1. Development |
3.638.507,52 |
10,62 |
1.820.963,97 |
4,97 |
2.391.135,56 |
6,27 |
|
3. Patents, licences , trademarks and
similars |
1.528.000,48 |
4,46 |
1.352.177,21 |
3,69 |
1.236.189,56 |
3,24 |
|
5. Software |
137.916,40 |
0,40 |
171.548,79 |
0,47 |
249.969,82 |
0,66 |
|
II. Tangible fixed assets |
5.156.763,86 |
15,05 |
4.544.738,76 |
12,41 |
5.256.367,84 |
13,79 |
|
2. Technical fittings and other tangible
assets |
5.041.491,77 |
14,71 |
4.482.120,86 |
12,24 |
5.065.810,84 |
13,29 |
|
3. Fixed assets in progress and advances |
115.272,09 |
0,34 |
62.617,90 |
0,17 |
190.557,00 |
0,50 |
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated
and affiliated companies |
2.128.728,52 |
6,21 |
4.819.566,74 |
13,16 |
7.033.566,74 |
18,45 |
|
1. Net worth instruments |
156.414,92 |
0,46 |
246.566,74 |
0,67 |
246.566,74 |
0,65 |
|
2. Credits to companies |
1.972.313,60 |
5,76 |
4.573.000,00 |
12,49 |
6.787.000,00 |
17,81 |
|
V. Long Term Financial Investments |
24.126,15 |
0,07 |
26.556,28 |
0,07 |
21.895,40 |
0,06 |
|
1. Net worth instruments |
6.010,12 |
0,02 |
6.010,12 |
0,02 |
6.010,12 |
0,02 |
|
5. Other financial assets |
18.116,03 |
0,05 |
20.546,16 |
0,06 |
15.885,28 |
0,04 |
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
21.652.956,96 |
63,19 |
23.878.351,84 |
65,22 |
21.924.491,07 |
57,52 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
5.302.584,21 |
15,47 |
4.891.302,91 |
13,36 |
5.138.570,05 |
13,48 |
|
2. Raw material inventory |
2.488.628,90 |
7,26 |
2.544.892,56 |
6,95 |
2.435.929,27 |
6,39 |
|
3. Work in Progress |
787.062,29 |
2,30 |
433.287,16 |
1,18 |
372.033,92 |
0,98 |
|
b) Short production
cycle |
787.062,29 |
2,30 |
433.287,16 |
1,18 |
372.033,92 |
0,98 |
|
4. Finished goods |
1.968.469,82 |
5,74 |
1.853.208,87 |
5,06 |
2.259.906,23 |
5,93 |
|
b) Short production
cycle |
1.968.469,82 |
5,74 |
1.853.208,87 |
5,06 |
2.259.906,23 |
5,93 |
|
6. Pre-payments to suppliers |
58.423,20 |
0,17 |
59.914,32 |
0,16 |
70.700,63 |
0,19 |
|
III. Trade Debtors and other receivable
accounts |
7.316.241,76 |
21,35 |
8.333.117,25 |
22,76 |
7.979.689,45 |
20,94 |
|
1. Clients |
6.816.269,97 |
19,89 |
8.012.877,34 |
21,88 |
7.494.784,57 |
19,66 |
|
b) Clients for sales and
short term services rendering |
6.816.269,97 |
19,89 |
8.012.877,34 |
21,88 |
7.494.784,57 |
19,66 |
|
2. Clients group and associated companies |
123.460,09 |
0,36 |
47.181,75 |
0,13 |
824,84 |
0,00 |
|
3. Other debts |
|
|
11.216,63 |
0,03 |
73.594,01 |
0,19 |
|
4. Staff |
58.631,73 |
0,17 |
56.201,76 |
0,15 |
77.577,37 |
0,20 |
|
5. Assets by current taxes |
|
|
361,20 |
0,00 |
|
|
|
6. Other credits with the Public
Administrations |
317.879,97 |
0,93 |
205.278,57 |
0,56 |
332.908,66 |
0,87 |
|
IV. Short term investments in associated
and affiliated companies |
2.335,12 |
0,01 |
|
|
|
|
|
2. Credits to companies |
2.335,12 |
0,01 |
|
|
|
|
|
V. Short term financial investments |
7.475.317,17 |
21,81 |
7.613.194,39 |
20,79 |
7.510.305,95 |
19,71 |
|
1. Net worth instruments |
6.283.868,77 |
18,34 |
2.643.993,44 |
7,22 |
2.707.551,16 |
7,10 |
|
3. Debt representative values |
1.186.633,17 |
3,46 |
4.963.209,44 |
13,56 |
|
|
|
5. Other financial assets |
4.815,23 |
0,01 |
5.991,51 |
0,02 |
4.794.996,44 |
12,58 |
|
6. Other investments |
|
|
|
|
7.758,35 |
0,02 |
|
VI. Short term periodifications |
32.692,61 |
0,10 |
30.000,00 |
0,08 |
100.743,85 |
0,26 |
|
VII. Cash and equivalents |
1.523.786,09 |
4,45 |
3.010.737,29 |
8,22 |
1.195.181,77 |
3,14 |
|
1. Treasury |
1.523.786,09 |
4,45 |
3.010.737,29 |
8,22 |
1.195.181,77 |
3,14 |
|
TOTAL ASSETS (A + B) |
34.266.999,89 |
100,00 |
36.613.903,59 |
100,00 |
38.113.615,99 |
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 |
17.824.765,85 |
52,02 |
18.431.810,09 |
50,34 |
17.859.593,20 |
46,86 |
|
A-1) Equity |
17.824.765,85 |
52,02 |
18.431.810,09 |
50,34 |
17.859.593,20 |
46,86 |
|
I. Capital |
2.000.000,00 |
5,84 |
2.000.000,00 |
5,46 |
2.000.000,00 |
5,25 |
|
1. Authorized capital |
2.000.000,00 |
5,84 |
2.000.000,00 |
5,46 |
2.000.000,00 |
5,25 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
13.431.810,09 |
39,20 |
13.072.138,69 |
35,70 |
14.259.019,83 |
37,41 |
|
1. Legal and statutory |
400.000,00 |
1,17 |
400.000,00 |
1,09 |
400.000,00 |
1,05 |
|
2. Other funds |
13.031.810,09 |
38,03 |
12.672.138,69 |
34,61 |
13.859.019,83 |
36,36 |
|
IV. (Net worth own shares and
participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
2.392.955,76 |
6,98 |
3.359.671,40 |
9,18 |
1.600.573,37 |
4,20 |
|
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 |
7.575.848,10 |
22,11 |
9.180.497,10 |
25,07 |
11.286.048,65 |
29,61 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
7.468.367,29 |
21,79 |
9.041.734,33 |
24,69 |
11.286.048,65 |
29,61 |
|
3. Financial leasing creditors |
753.998,03 |
2,20 |
|
|
168.044,49 |
0,44 |
|
5. Other financial liabilities |
6.714.369,26 |
19,59 |
9.041.734,33 |
24,69 |
11.118.004,16 |
29,17 |
|
III. Long term debts with associated and
affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
107.480,81 |
0,31 |
138.762,77 |
0,38 |
|
|
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special
characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
8.866.385,94 |
25,87 |
9.001.596,40 |
24,59 |
8.967.974,14 |
23,53 |
|
I. Liabilities related with non-current
assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
1.228.645,66 |
3,59 |
1.313.553,16 |
3,59 |
1.241.413,05 |
3,26 |
|
III. Short term debts |
2.506.858,46 |
7,32 |
2.680.593,15 |
7,32 |
3.276.243,28 |
8,60 |
|
2. Debts with bank entities |
|
|
|
|
720.971,81 |
1,89 |
|
3. Financial leasing creditors |
189.179,82 |
0,55 |
168.044,49 |
0,46 |
176.261,11 |
0,46 |
|
5. Other financial liabilities |
2.317.678,64 |
6,76 |
2.512.548,66 |
6,86 |
2.379.010,36 |
6,24 |
|
IV. Short term debts with associated and
affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable
accounts |
5.130.881,82 |
14,97 |
5.007.450,09 |
13,68 |
4.450.317,81 |
11,68 |
|
1. Suppliers |
3.970.634,20 |
11,59 |
3.575.571,13 |
9,77 |
3.245.316,65 |
8,51 |
|
b) Short term suppliers |
3.970.634,20 |
11,59 |
3.575.571,13 |
9,77 |
3.245.316,65 |
8,51 |
|
2. Suppliers group and associated
companies |
109.028,54 |
0,32 |
138.475,20 |
0,38 |
4.730,47 |
0,01 |
|
4. Staff (pending remunerations) |
451.131,08 |
1,32 |
480.045,68 |
1,31 |
461.419,96 |
1,21 |
|
5. Liabilities by current taxes |
76.273,93 |
0,22 |
296.916,24 |
0,81 |
60.073,36 |
0,16 |
|
6. Other debts with Public Administrations |
523.814,07 |
1,53 |
516.441,84 |
1,41 |
678.777,37 |
1,78 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special
characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B +
C) |
34.266.999,89 |
100,00 |
36.613.903,59 |
100,00 |
38.113.615,99 |
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 |
39.803.908,88 |
93,87 |
43.593.585,51 |
95,24 |
41.602.098,17 |
99,15 |
|
A) Sales |
37.495.414,07 |
88,43 |
40.242.830,08 |
87,92 |
37.179.386,73 |
88,61 |
|
b) Services provided |
2.308.494,81 |
5,44 |
3.350.755,43 |
7,32 |
4.422.711,44 |
10,54 |
|
2. Variation in stocks of finished goods
and work in progress |
102.697,74 |
0,24 |
-345.444,12 |
-0,75 |
-632.329,15 |
-1,51 |
|
3. Works for its own assets |
2.334.922,75 |
5,51 |
1.903.606,26 |
4,16 |
168.959,99 |
0,40 |
|
4. Supplies |
-7.351.411,51 |
-17,34 |
-7.024.404,40 |
-15,35 |
-6.693.048,23 |
-15,95 |
|
a) Material consumed |
-7.519.944,67 |
-17,74 |
-7.150.231,01 |
-15,62 |
-6.521.164,41 |
-15,54 |
|
b) Raw materials consumed |
168.533,16 |
0,40 |
132.483,24 |
0,29 |
-171.883,82 |
-0,41 |
|
c) Works carried out for other companies |
|
|
-6.656,63 |
-0,01 |
|
|
|
5. Other operating income |
262.650,67 |
0,62 |
272.946,15 |
0,60 |
189.042,29 |
0,45 |
|
a) Other incomes |
253.313,92 |
0,60 |
165.005,44 |
0,36 |
94.247,16 |
0,22 |
|
b) Operating grants included in the
exercise result |
9.336,75 |
0,02 |
107.940,71 |
0,24 |
94.795,13 |
0,23 |
|
6. Labour cost |
-16.355.487,85 |
-38,57 |
-17.267.770,00 |
-37,73 |
-16.359.177,52 |
-38,99 |
|
a) Wages and similar expenses |
-13.482.629,80 |
-31,80 |
-14.464.442,32 |
-31,60 |
-13.658.866,09 |
-32,55 |
|
b) Social costs |
-2.872.858,05 |
-6,78 |
-2.803.327,68 |
-6,12 |
-2.700.311,43 |
-6,44 |
|
7. Other operating costs |
-14.399.734,08 |
-33,96 |
-13.983.485,24 |
-30,55 |
-12.237.627,23 |
-29,16 |
|
a) External services |
-13.996.990,70 |
-33,01 |
-13.785.790,79 |
-30,12 |
-12.060.812,84 |
-28,74 |
|
b) Taxes |
-341.501,25 |
-0,81 |
-245.780,60 |
-0,54 |
-74.415,14 |
-0,18 |
|
c) Losses, deterioration and variation on
business operations provisions |
-61.242,13 |
-0,14 |
48.086,15 |
0,11 |
-102.399,25 |
-0,24 |
|
8. Amortization of fixed assets |
-1.874.654,12 |
-4,42 |
-2.977.571,49 |
-6,51 |
-3.445.148,21 |
-8,21 |
|
9. Allocation of subventions on non
financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed
assets disposal |
|
|
-790.526,80 |
-1,73 |
-1.277.236,33 |
-3,04 |
|
a) Deteriorations and losses |
|
|
-273.866,67 |
-0,60 |
-728.224,55 |
-1,74 |
|
b) Results for disposals and others |
|
|
-516.660,13 |
-1,13 |
-549.011,78 |
-1,31 |
|
12. Negative difference of business
combinations |
|
|
|
|
|
|
|
13. Other results |
9.352,11 |
0,02 |
16.347,94 |
0,04 |
10.352,53 |
0,02 |
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 +
6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) |
2.532.244,59 |
5,97 |
3.397.283,81 |
7,42 |
1.325.886,31 |
3,16 |
|
14. Financial income |
292.974,65 |
0,69 |
218.392,72 |
0,48 |
256.562,04 |
0,61 |
|
b) From negotiable values and other
financial instruments |
292.974,65 |
0,69 |
218.392,72 |
0,48 |
256.562,04 |
0,61 |
|
b 1) From group and
associated companies |
292.974,65 |
0,69 |
|
|
222.274,00 |
0,53 |
|
b 2) From third parties |
|
|
218.392,72 |
0,48 |
34.288,04 |
0,08 |
|
15. Financial expenses |
-78.163,85 |
-0,18 |
-107.394,04 |
-0,23 |
-150.625,58 |
-0,36 |
|
b) For debts with third parties |
-78.163,85 |
-0,18 |
-107.394,04 |
-0,23 |
-150.625,58 |
-0,36 |
|
16. Reasonable value variation on
financial instruments |
-336,14 |
0,00 |
-17.945,95 |
-0,04 |
-20.104,50 |
-0,05 |
|
a) Negotiation portfolio and others |
-336,14 |
0,00 |
-17.945,95 |
-0,04 |
-20.104,50 |
-0,05 |
|
17. Exchange differences |
6.025,35 |
0,01 |
447.667,31 |
0,98 |
-136.043,54 |
-0,32 |
|
18. Deterioration and result for disposal
of financial instruments |
34.590,94 |
0,08 |
-8.907,59 |
-0,02 |
476.330,41 |
1,14 |
|
a) Deteriorations and losses |
-57.893,59 |
-0,14 |
25.664,65 |
0,06 |
476.330,41 |
1,14 |
|
b) Results for disposals and others |
92.484,53 |
0,22 |
-34.572,24 |
-0,08 |
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 +
18 + 19) |
255.090,95 |
0,60 |
531.812,45 |
1,16 |
426.118,83 |
1,02 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
2.787.335,54 |
6,57 |
3.929.096,26 |
8,58 |
1.752.005,14 |
4,18 |
|
20. Taxes on profits |
-394.379,78 |
-0,93 |
-569.424,86 |
-1,24 |
-151.431,77 |
-0,36 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED
OPERATIONS (A.3 + 20) |
2.392.955,76 |
5,64 |
3.359.671,40 |
7,34 |
1.600.573,37 |
3,81 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming
from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
2.392.955,76 |
5,64 |
3.359.671,40 |
7,34 |
1.600.573,37 |
3,81 |
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 |
2.392.955,76 |
3.359.671,40 |
1.600.573,37 |
|
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) |
2.392.955,76 |
3.359.671,40 |
1.600.573,37 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
RESULTS FROM PREVIOUS EXERCISES |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
2.000.000,00 |
16.903.366,75 |
355.653,08 |
|
|
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) |
2.000.000,00 |
16.903.366,75 |
355.653,08 |
|
|
I. Total recognized income and expenses |
|
|
|
1.600.573,37 |
|
II. Operations with partners or owners |
|
-3.000.000,00 |
|
|
|
4. (-) Dividends distribution |
|
-3.000.000,00 |
|
|
|
III. Other net worth variations |
|
355.653,08 |
-355.653,08 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
2.000.000,00 |
14.259.019,83 |
|
1.600.573,37 |
|
I. Adjustments by change of criteria in
the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2009) |
|
212.545,49 |
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2010) |
2.000.000,00 |
14.471.565,32 |
|
1.600.573,37 |
|
I. Total recognized income and expenses |
|
|
|
3.359.671,40 |
|
II. Operations with partners or owners |
|
-3.000.000,00 |
|
|
|
4. (-) Dividends distribution |
|
-3.000.000,00 |
|
|
|
III. Other net worth variations |
|
1.600.573,37 |
|
-1.600.573,37 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
2.000.000,00 |
13.072.138,69 |
|
3.359.671,40 |
|
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) |
2.000.000,00 |
13.072.138,69 |
|
3.359.671,40 |
|
I. Total recognized income and expenses |
|
|
|
2.392.955,76 |
|
II. Operations with partners or owners |
|
-3.000.000,00 |
|
|
|
4. (-) Dividends distribution |
|
-3.000.000,00 |
|
|
|
III. Other net worth variations |
|
3.359.671,40 |
|
-3.359.671,40 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
2.000.000,00 |
13.431.810,09 |
|
2.392.955,76 |
|
NET WORTH CHANGES ( 3 /3) |
TOTAL |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
19.259.019,83 |
|
||
|
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) |
19.259.019,83 |
|
||
|
I. Total recognized income and expenses |
1.600.573,37 |
|
||
|
II. Operations with partners or owners |
-3.000.000,00 |
|
||
|
4. (-) Dividends distribution |
-3.000.000,00 |
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
17.859.593,20 |
|
||
|
I. Adjustments by change of criteria in
the exercise (2009) |
|
|
||
|
II. Adjustments by errors in the exercise
(2009) |
212.545,49 |
|
||
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2010) |
18.072.138,69 |
|
||
|
I. Total recognized income and expenses |
3.359.671,40 |
|
||
|
II. Operations with partners or owners |
-3.000.000,00 |
|
||
|
4. (-) Dividends distribution |
-3.000.000,00 |
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
18.431.810,09 |
|
||
|
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) |
18.431.810,09 |
|
||
|
I. Total recognized income and expenses |
2.392.955,76 |
|
||
|
II. Operations with partners or owners |
-3.000.000,00 |
|
||
|
4. (-) Dividends distribution |
-3.000.000,00 |
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
17.824.765,85 |
|
||
|
|
|
|
||
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 |
2.787.335,54 |
3.929.096,26 |
1.752.005,14 |
|
2. Results adjustments |
1.680.805,30 |
2.897.985,08 |
4.134.909,84 |
|
a) Amortization of fixed assets (+) |
1.874.654,12 |
2.977.571,49 |
3.445.148,21 |
|
b) Value correction for deterioration
(+/-) |
|
|
354.293,39 |
|
c) Change of Provisions (+/-) |
61.242,13 |
-48.086,15 |
|
|
e) Results for decline and disposal of
fixed assets (+/-) |
|
516.660,13 |
549.011,78 |
|
f) Results for decline and disposal of financial
instruments (+/-) |
-34.590,94 |
8.907,59 |
|
|
g) Financial income (-) |
-292.974,65 |
-218.392,72 |
-256.562,04 |
|
f) Financial expenses (+) |
78.163,85 |
107.394,04 |
150.625,58 |
|
i) Change difference (+/-) |
-6.025,35 |
-447.667,31 |
136.043,54 |
|
j) Reasonable value variation on financial
instruments (+/-) |
336,14 |
17.945,95 |
20.104,50 |
|
k) Other income and expenses (-/+) |
|
-16.347,94 |
-263.755,12 |
|
3. Changes in current capital |
303.363,70 |
-589.734,39 |
-3.403.313,35 |
|
a) Stocks (+/-) |
-411.281,30 |
-247.267,14 |
698.519,09 |
|
b) Debtors and other receivable accounts
(+/-) |
667.487,00 |
354.277,99 |
946.165,70 |
|
d) Creditors and other payable accounts
(+/-) |
47.158,00 |
-696.745,24 |
-1.241.860,47 |
|
e) Other current liabilities (+/-) |
|
|
-3.806.137,67 |
|
4. Other cash flow coming from operating
activities |
44.779,30 |
-1.611.272,29 |
105.936,46 |
|
a) Interests payments (-) |
-78.163,85 |
-107.394,04 |
-150.625,58 |
|
c) Interests collections (+) |
292.974,65 |
218.392,72 |
256.562,04 |
|
d) Collections (payments) for profit tax
(+/-) |
-648.054,44 |
|
|
|
e) Other payments (collections) (-/+) |
478.022,94 |
-1.722.270,97 |
|
|
5. Cash flow coming from operating
activities (1 + 2 + 3 + 4) |
4.816.283,84 |
4.626.074,66 |
2.589.538,09 |
|
B) CASH FLOW COMING FROM INVESTING
ACTIVITIES |
|
|
|
|
6. Investment payments (-) |
-4.446.413,00 |
-691.526,50 |
-1.727.667,26 |
|
b) Intangible assets |
-2.637.093,00 |
-129.708,37 |
-794.032,57 |
|
c) Tangible assets |
-1.809.320,00 |
-561.818,13 |
-924.655,42 |
|
e) Other financial assets |
|
|
-8.979,27 |
|
7. Disinvestment collections (+) |
|
|
|
|
8. Cash Flow in investment activities (6 +
7) |
-4.446.413,00 |
-691.526,50 |
-1.727.667,26 |
|
C) CASH FLOW COMING FROM FINANCING
ACTIVITIES |
|
|
|
|
9. Net worth instruments collections and
payments |
9.336,75 |
|
83.642,19 |
|
e) Received legacies, grants and
subventions (+) |
9.336,75 |
|
83.642,19 |
|
10. Financial liabilities instruments collections
and payments |
-1.861.298,79 |
-2.118.992,64 |
-1.766.134,37 |
|
a) Issue |
1.473.321,00 |
436.278,83 |
488.168,65 |
|
2. Debts with bank
entities (+) |
1.200.000,00 |
|
|
|
5. Other debts (+) |
273.321,00 |
436.278,83 |
488.168,65 |
|
b) Return and amortization of |
-3.334.619,79 |
-2.555.271,47 |
-2.254.303,02 |
|
2. Debts with bank
entities (-) |
-424.866,64 |
-176.261,11 |
|
|
5. Other debts (-) |
-2.909.753,15 |
-2.379.010,36 |
-2.254.303,02 |
|
11. Payments for dividends and remunerations
of other net worth instruments |
-4.860,00 |
|
|
|
a) Dividends (-) |
-4.860,00 |
|
|
|
12. Cash Flow in financing activities (9 +
10 + 11) |
-1.856.822,04 |
-2.118.992,64 |
-1.682.492,18 |
|
D) Exchange rate variations effect |
|
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE /
REDUCTION (5 + 8 + 12 + D) |
-1.486.951,20 |
1.815.555,52 |
-820.621,35 |
|
Cash or equivalents at the beginning of
the exercise |
|
|
|
|
Cash or equivalents at the end of the
exercise |
1.523.786,09 |
3.010.737,29 |
-820.621,35 |
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
12.786.571,02 |
-14,05 |
14.876.755,44 |
14,82 |
12.956.516,93 |
|
Working capital ratio |
0,37 |
-9,76 |
0,41 |
20,59 |
0,34 |
|
Soundness Ratio |
1,41 |
-2,76 |
1,45 |
31,82 |
1,10 |
|
Average Collection Period (days) |
66 |
-3,66 |
69 |
-0,52 |
69 |
|
Average Payment Period (days) |
85 |
-0,84 |
86 |
1,28 |
85 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
244,21 |
-7,94 |
265,27 |
8,50 |
244,48 |
|
Quick Ratio (%) |
101,50 |
-14,00 |
118,02 |
21,58 |
97,07 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
29,11 |
-9,09 |
32,02 |
-16,20 |
38,21 |
|
External Financing Average Cost |
0,01 |
0,00 |
0,01 |
0,00 |
0,01 |
|
Debt Service Coverage |
2,07 |
-18,18 |
2,53 |
-54,98 |
5,62 |
|
Interest Coverage |
32,40 |
2,43 |
31,63 |
259,43 |
8,80 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
12,10 |
14,04 |
10,61 |
70,30 |
6,22 |
|
Auto financing generated by Assets (%) |
14,06 |
11,23 |
12,64 |
86,16 |
6,79 |
|
Breakdown Point |
1,07 |
-1,83 |
1,08 |
5,83 |
1,03 |
|
Average Sales Volume per Employee |
147.920,43 |
-7,88 |
160.565,69 |
4,21 |
154.081,85 |
|
Average Cost per Employee |
60.780,74 |
-4,43 |
63.601,36 |
4,97 |
60.589,55 |
|
Assets Turnover |
1,16 |
-2,52 |
1,19 |
9,17 |
1,09 |
|
Inventory Turnover (days) |
260 |
3,59 |
251 |
-9,38 |
276 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
7,39 |
-20,37 |
9,28 |
166,67 |
3,48 |
|
Operating Profitability (%) |
12,86 |
-15,67 |
15,25 |
66,30 |
9,17 |
|
Return on Equity (ROE) (%) |
15,64 |
-26,64 |
21,32 |
117,33 |
9,81 |
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 |
36,81 |
54,20 |
-17,39 |
|
A) CURRENT ASSETS |
63,19 |
45,80 |
17,39 |
|
LIABILITIES |
|||
|
A) NET WORTH |
52,02 |
49,56 |
2,46 |
|
B) NON CURRENT LIABILITIES |
22,11 |
18,28 |
3,83 |
|
C) CURRENT LIABILITIES |
25,87 |
32,16 |
-6,29 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
93,87 |
94,16 |
-0,29 |
|
Other operating income |
6,13 |
5,84 |
0,29 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-17,34 |
-35,74 |
18,40 |
|
Variation in stocks of finished goods and work in progress |
0,24 |
-0,92 |
1,16 |
|
GROSS MARGIN |
82,90 |
63,35 |
19,55 |
|
Other operating costs |
-33,96 |
-24,15 |
-9,81 |
|
Labour cost |
-38,57 |
-25,55 |
-13,02 |
|
GROSS OPERATING RESULT |
10,37 |
13,64 |
-3,27 |
|
Amortization of fixed assets |
-4,42 |
-5,64 |
1,22 |
|
Deterioration and result for fixed assets disposal |
|
-0,06 |
|
|
Other expenses / income |
|
0,41 |
|
|
NET OPERATING RESULT |
5,97 |
8,35 |
-2,38 |
|
Financial result |
0,60 |
-0,72 |
1,32 |
|
RESULT BEFORE TAX |
6,57 |
7,63 |
-1,06 |
|
Taxes on profits |
-0,93 |
-1,68 |
0,75 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
5,64 |
5,95 |
-0,31 |
|
Exercise result coming from discontinued
operations net of taxes |
|
0,00 |
|
|
NET RESULT |
5,64 |
5,95 |
-0,31 |
|
Amortization of fixed assets |
-4,42 |
-5,64 |
1,22 |
|
Deterioration and provisions variation |
-0,14 |
-0,18 |
0,04 |
|
|
10,21 |
11,77 |
-1,56 |
Main Ratios
Figures given in €
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
12.786.571,02 |
340.098,50 |
2.419.004,04 |
4.759.000,00 |
|
Working capital ratio |
0,37 |
0,02 |
0,17 |
0,29 |
|
Soundness Ratio |
1,41 |
0,56 |
1,18 |
1,56 |
|
Average Collection Period (days) |
66 |
66 |
84 |
126 |
|
Average Payment Period (days) |
85 |
98 |
132 |
174 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
244,21 |
105,46 |
147,81 |
221,62 |
|
Quick Ratio (%) |
101,50 |
2,10 |
6,65 |
44,36 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
29,11 |
4,39 |
17,99 |
35,04 |
|
External Financing Average Cost |
0,01 |
0,02 |
0,04 |
0,06 |
|
Debt Service Coverage |
2,07 |
0,21 |
1,53 |
4,05 |
|
Interest Coverage |
32,40 |
2,73 |
7,53 |
59,14 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
12,10 |
6,47 |
9,91 |
16,08 |
|
Auto financing generated by Assets (%) |
14,06 |
6,35 |
10,68 |
14,75 |
|
Breakdown Point |
1,07 |
1,02 |
1,08 |
1,16 |
|
Average Sales Volume per Employee |
147.920,43 |
121.203,64 |
169.594,44 |
247.398,85 |
|
Average Cost per Employee |
60.780,74 |
33.889,53 |
40.484,28 |
47.662,00 |
|
Assets Turnover |
1,16 |
0,70 |
0,88 |
1,20 |
|
Inventory Turnover (days) |
260 |
85 |
123 |
209 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
7,39 |
2,01 |
6,82 |
12,62 |
|
Operating Profitability (%) |
12,86 |
8,07 |
13,48 |
18,74 |
|
Return on Equity (ROE) (%) |
15,64 |
2,50 |
15,72 |
26,22 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.68.36 |
|
|
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
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.