MIRA
INFORM REPORT
|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIAL FERRO DISTRIBUIDORA SA ”FERRODISA” |
|
|
|
|
Registered Office : |
Partida Villa Gris (Cr Autovia Siderurgica), S/N El Port De Sagunt 46520 Sagunto/Sagunt Valencia |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
01.01.1958 |
|
|
|
|
Legal Form : |
Joint-Stock Company |
|
|
|
|
Line of Business : |
Forging, pressing, stamping & roll forming of metals, power mettalurgy |
|
|
|
|
No. of Employees : |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Deregistration |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SPAIN - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, after almost 15 years of above average GDP growth, the Spanish
economy began to slow in late 2007 and entered into a recession in the second
quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend,
and by another 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in
Spain''s economic growth reflected a significant decline in construction amid
an oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain concerned
that Madrid may need to bail out more troubled banks. The Bank of Spain,
however, is seeking to boost confidence in the financial sector by pressuring
banks to come clean about their losses and consolidate into stronger groups.
Source
: CIA
Company name
INDUSTRIAL FERRO DISTRIBUIDORA SA ”FERRODISA”
CIF/NIF: A48054241
Company situation: Deregistration Mercantile Register sheet file for
the lack of filed accounts - Article 378.1 of the Mercantile
Register Regulation (Date: 07/02/2013)
EXECUTIVE SUMMARY
Identification
Current Business Name: INDUSTRIAL FERRO DISTRIBUIDORA SA
Other names: NO
Current Address: PARTIDA VILLA GRIS (CR AUTOVIA
SIDERURGICA), S/N
EL PORT DE SAGUNT 46520 SAGUNTO/SAGUNT VALENCIA
Branches: 2
Telephone number: 962659500 Fax: 962674251
URL: www.gonvarri.com
Corporate e-mail: gonvarri@gonvarri.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: 07/02/2013)
Incidents: NO
R.A.I.: NO
Financial Information
Balance sheet latest sales (2010): 95.609.000,00 € (Mercantile Register)
Result: 3.517.000 €
Total Assets: 77.135.000 €
Share capital: 7.212.000,00 €
Employees: 200
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 20/03/1969
Activity: Forging, pressing, stamping &
roll forming of metals, power mettalurgy
NACE 2009 CODE: 2550
International Operations: Imports and
Exports
Corporate Structure
Member of the Board:
Parent Company:
GONVARRI
CORPORACION FINANCIERA SL
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2010
Latest act published in BORME: 24/09/2012 Officially cancelling
of an appointment
Latest press article: 25/07/2009 LAS
PROVINCIAS (CORPORATE INFORMATION)
Bank Entities: There are
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
04/02/2013 08:02:53
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 thousands €
|
|
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
7.094,00 |
9,20 |
9.998,00 |
15,71 |
10.979,00 |
12,17 |
|
B) CURRENT ASSETS |
70.041,00 |
90,80 |
53.662,00 |
84,29 |
79.265,00 |
87,83 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
54.778,00 |
71,02 |
51.268,00 |
80,53 |
53.327,00 |
59,09 |
|
B) NON CURRENT LIABILITIES |
36,00 |
0,05 |
39,00 |
0,06 |
20.420,00 |
22,63 |
|
C) CURRENT LIABILITIES |
22.321,00 |
28,94 |
12.353,00 |
19,40 |
16.497,00 |
18,28 |
Profit and loss account analysis
Figures given in thousands €
|
|
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
95.609,00 |
|
78.015,00 |
|
140.428,00 |
|
|
GROSS MARGIN |
22.254,00 |
23,28 |
15.358,00 |
19,69 |
23.032,00 |
16,40 |
|
EBITDA |
5.359,00 |
5,61 |
-1.921,00 |
-2,46 |
2.119,00 |
1,51 |
|
EBIT |
4.750,00 |
4,97 |
-2.805,00 |
-3,60 |
-462,00 |
-0,33 |
|
NET RESULT |
3.517,00 |
3,68 |
-2.047,00 |
-2,62 |
-925,00 |
-0,66 |
|
EFFECTIVE TAX RATE (%) |
30,01 |
0,03 |
-30,06 |
-0,04 |
-30,66 |
-0,02 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
9,20 |
56,19 |
-46,99 |
|
A) CURRENT ASSETS |
90,80 |
43,81 |
46,99 |
|
LIABILITIES |
|||
|
A) NET WORTH |
71,02 |
31,56 |
39,46 |
|
B) NON CURRENT LIABILITIES |
0,05 |
23,06 |
-23,01 |
|
C) CURRENT LIABILITIES |
28,94 |
45,38 |
-16,44 |
|
|
|
|
|
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
99,13 |
97,96 |
1,17 |
|
GROSS MARGIN |
23,07 |
27,34 |
-4,27 |
|
EBITDA |
5,56 |
6,45 |
-0,89 |
|
EBIT |
4,92 |
3,48 |
1,44 |
|
NET RESULT |
3,65 |
2,37 |
1,28 |
Sector Composition
Compared sector (NACE 2009): 255
Number of companies: 14
Size (sales figure): > 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 |
-2.047.000,00 |
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 |
0,00 |
|
Total of Amounts to be distributed |
-2.047.000,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
-2.047.000,00 |
|
|
|
Application total |
-2.047.000,00 |
Auditing
Source: filing of annual financial statement 2010
Auditors’ opinion: FAVOURABLE
Auditor: PRICEWATERHOUSECOOPERS AUDITORES S.L.
Auditing fees: 21.000,00 €
Facts subsequent to the closing
Source: Annual financial report 2010
After the closure no relevant facts requiring their inclusion in the annual
accounts have taken place.
ADDRESSES
Current Legal Seat Address:
PARTIDA VILLA GRIS (CR AUTOVIA SIDERURGICA), S/N
EL
PORT DE SAGUNT 46520 SAGUNTO/SAGUNT VALENCIA
Characteristics of the current address
Type of establishment: factory
Local Situation: secondary
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CARRETERA MADRID (KM 422) |
18220 |
ALBOLOTE |
Granada |
|
CALLE EMBAJADORES, S/N |
28053 |
MADRID |
Madrid |
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE VILLA GRIS |
46520 |
SAGUNTO/SAGUNT |
Valencia |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Governing body : 4 members (latest change:
27/10/2011) Other Positions : 6 (latest change: 29/07/2011) Auditor : 2 (latest change: 25/01/2012) Operative Board Members : 6 (latest change: 21/05/2010) Non-current positions : 32 (latest change: 13/09/2012) |
|
|
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
MEMBER OF THE BOARD |
CASTILLO GANDARA, CARLOS |
31/07/2007 |
|
MEMBER OF THE BOARD |
CALVO MOREIRA, JESUS |
28/07/2011 |
|
MEMBER OF THE BOARD |
HOLDING GONVARRI SRL |
27/10/2011 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
PRICEWATERHOUSECOOPERS AUDITORES SL |
29/10/2009 |
|
AUDITOR |
PRICEWATERHOUSECOOPERS AUDITORES SL |
25/01/2012 |
Board members remuneration
Source: Annual
financial report 2010
Board
members remuneration: 244.000,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
RIBERAS MERA, JON |
|
Financial Manager |
SABIO, JAVIER |
|
Human Resources Director |
TORMO, GUSTAVO |
|
Commercial Director |
SILVESTRE, JUAN |
|
Exports Director |
LEISNER, JORGE |
|
Imports Director |
LEISNER, JORGE |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GONVARRI CORPORACION FINANCIERA SL |
B28088045 |
62,50 |
OWN SOURCES |
23/10/2012 |
|
|
HIERROS Y APLANACIONES SA |
A33010067 |
35,00 |
OWN SOURCES |
23/10/2012 |
|
|
CASTILLO GANDARA CARLOS |
|
2,50 |
OWN SOURCES |
23/10/2012 |
Majority shareholder of GONVARRI CORPORACION FINANCIERA SL
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
HOLDING GONVARRI SOCIEDAD LIMITADA |
B95220992 |
74,68 |
OWN SOURCES |
19/04/2012 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GONVARRI CORPORACION FINANCIERA SL. (EXTINGUIDA) |
B83773895 |
62,50 |
B.O.R.M.E. |
28/08/2008 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
IBERDROLA, SOCIEDAD ANONIMA |
A48010615 |
Indef. |
OWN SOURCES |
18/02/2003 |
|
|
EMILSIDER S.P.A. |
ITALY |
Indef. |
MERCANTILE REGISTER |
31/12/1996 |
You can obtain business information of foreign companies at the
page D&B INTERNATIONAL
POTENTIAL LINKS
Name Search in the Internet
Search Criterion: ”INDUSTRIAL FERRO DISTRIBUIDORA SA”
URL: www.aimme.es
FERRODISA Partida Villa Gris, s/n 46520. Puerto Sagunto - Valencia -SPAIN -
Apdo. 68. Tel: 962 65 95 00 - Telex 64646 IFVL Fax: 962 67 42 51 ...
URL: www.gonvarri.com
Gonvarri Steel Industries
URL: www.avia.com.es
Asociados - AVIA. Cluster de Automoción de la Comunitat Valenciana
www.imvesa.es • Industrial Ferro-Distribuidora, S.A. (Ferrodisa) •
gonvarristeelservices.com • INDUSTRIAS ALEGRE • www.ialegre.com • Industrias
Dolz, s.a. ...
BUSINESS INFORMATION
Incorporation date: 20/03/1969
Establishment date: 01/01/1958
Code: 1312000
Activity: Forging, pressing, stamping & roll forming of
metals, power mettalurgy
NACE 2009 CODE: 2550
NACE 2009 Activity: Forging, pressing, stamping and roll forming
of metal; powder metallurgy
Business: CENTRO DE SERVICIOS DEDICADO EN EXCLUSIVA A LOS
PRODUCTOS SIDERURGICOS DEL ACERO.
Environmental information: YES (Page 64 -
65) Annual financial report 2010
Latest employees figure: 200 (2012)
% of fixed employees: 100,00%
% of men: 92,39%
% of women: 7,61%
Employees evolution
|
|
|
|
Source: Annual financial report 2010
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
182 |
15 |
PURCHASES
Import Percentage: 44%
Imports from: UE Y OTROS PAISES
National Distribution: 56%
SALES
Export Percentage: 19%
Exports to: UE Y OTROS PAISES
National Distribution: 81%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
GONVAUTO NAVARRA
S A. |
NO |
|
GONVARRI CENTRO DE
SERVICIOS SL |
NO |
|
GRUPO ARCELOR |
NO |
|
HIERROS Y
APLANACIONES, SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
GONVARRI CENTRO
DE SEVICIOS, S.L. |
NO |
|
GRUPO ARCELOR |
NO |
|
GRUPO GESTAMP |
NO |
•
El 99,42% de su cifra de negocio corresponde a
ventas.
•
El 0,58% de su cifra de negocio corresponde a
prestación de servicios.
•
La sociedad tiene únicamente dentro de su cifra de
negocios una linea de negocio correspondiente a la venta de chapa.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
3999 |
RECOLETOS, 10 - ALA SUR - PL. BAJA |
MADRID |
Madrid |
|
BANCO SANTANDER, S.A. |
0774 |
CL DEL TRABAJO 22 PUERTO SAGUNTO APDO. 6 |
SAGUNTO |
Valencia |
|
BANKIA, S.A. |
0603 |
PL. DE CELENQUE, 2 |
MADRID |
Madrid |
|
BANCO ESPAŃOL DE CREDITO, S.A. |
1001 |
PS DE RECOLETOS 20 1. PLANTA APDO. 297 |
MADRID |
Madrid |
|
BANKINTER, S.A. |
0010 |
PASEO DE LA CASTELLANA, 29. |
MADRID |
Madrid |
Discount facilities: 0
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 0
|
|
|
|
Debt type: Credit policy |
Granted limit:200.000,00 € Used limit:50.560,00 € Available limit:149.440,00
€ Source: Filed
Accounts (2010) |
|
|
|
GRANTS
|
|
|
|
Body-entity: MINER Grant type: For fixed
assets acquisition Granting year: 2000 |
Nominal amount: 714.000,00 € Amount received in the
exercise: 4.000,00 € Amount pending collection:
82.000,00 € Source: Filed
Accounts (2010) |
|
Operation description: Planta de decapado en continuo |
|
|
|
|
|
Body-entity: MINISTERIO DE ECONOMIA Grant type: For fixed
assets acquisition |
Nominal amount: 535.000,00 € Amount received in the
exercise: 6.000,00 € Amount pending collection:
38.000,00 € Source: Filed
Accounts (2010) |
|
Operation description: Corte y transf. Siderúrgica |
|
|
|
|
LEGAL
STRUCTURE
Constitution Data
Register Date: 20/03/1969
Legal form: Joint-stock Company
Share capital: 7.212.000,00 €
Paid-up capital: 7.212.000,00 €
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: 64 (Last: 24/09/2012, first:
12/12/1990)
Acts on capital: 2 (Last: 09/09/1991, first:
14/02/1991)
Acts on creation: 0
Acts on filed accounts: 19 (Last: 12/09/2011, first:
07/10/1991)
Acts on identification: 0
Acts on Information: 11 (Last: 15/11/2011, first:
05/01/1993)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Officially cancelling of an appointment |
24/09/2012 |
391445 |
Valencia |
|
Re-elections |
03/02/2012 |
57075 |
Valencia |
|
Errata |
15/11/2011 |
451853 |
Valencia |
|
Other concepts |
08/11/2011 |
444771 |
Valencia |
|
Appointments |
08/11/2011 |
444771 |
Valencia |
|
Resignations |
08/11/2011 |
444771 |
Valencia |
|
Annual Filed Accounts (2010) |
12/09/2011 |
495682 |
Valencia |
|
Appointments |
09/08/2011 |
332243 |
Valencia |
|
Appointments |
09/08/2011 |
332242 |
Valencia |
|
Resignations |
08/08/2011 |
330783 |
Valencia |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 3 (Last: 25/07/2009, first: 21/12/2008)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 3 (Last: 13/11/2007, first:
02/07/1999)
Latest press article published
25/07/2009 LAS PROVINCIAS - CORPORATE
INFORMATION
THE FERRODISA SAGUNTO steel
company has submitted a dossier of
temporary lay-offs will affect 162 WORKERS and runs
until January 2010 with a maximum
of 52 days, as announced UNIONS. The company has implemented a temporary lay-offs, AS A RESULT OF THE FALL
OF ORDERS, JANUARY
JLIO instant, affecting
a total of 169 employees.
21/05/2009 EXPANSION DE VALENCIA - CORPORATE
INFORMATION
STEEL FIRM has raised FERRODISA
UNIONS plans to lay off up to 10% of its workers with permanent contracts until year end, to adapt its structure to the decline in activity. SOURCES OF CONFEDERATION GRAL.
THE TREBALL (CGT)
suggest that economic information supplied
by the company talks about a 50%
reduction in the volume of production
in the last few months. THE
CIA. APPLY A
RECORD SINCE DECEMBER employment regulation (ERE), which
affects around 90% of the workforce, which
currently has 223 employees. FERRODISA
obtained in 2007 a turnover of 146.24 MM., With a net profit of
about 4.8 MM.
21/12/2008 LAS PROVINCIAS - CORPORATE
INFORMATION
FERRODISA COMPANY has submitted a dossier of employment regulation (ERE) EMPORAL for six months, which will affect 183 workers.
According to the intention that showed
the company, in this ERE Workers shall not be unemployed for six months,
but will go in shifts.
13/11/2007 EXPANSIÓN DEL PAIS VASCO - FINANCIAL
DATA
GONVARRI steel group fell 4.7%
Consolidated net SU last year, to place it in THE 95.4 MM. EUROS. HOWEVER, this
retreat is explained by the absence
of the EXTRAORDINARY OF 24 MM. Euros that the group
had incorporated in their previous
year's results. In contrast, ordinary
profit increased by 34% and
stood at 134 mm. EUROS.
THUS, THE GROUP
TURNOVER 1609 stood
at MM. EUROS, with an increase of 8.06%. INDUSTRIAL GONVARRI contributed
to the consolidated figures 554.4
MM., Gonvauto 214
mm. INDUSTRIAL AND IRONS AND APLANACIONES
FERRODISTRIBUIDORA billed 146.21 MM. And MM 143.86. RESPECTIVELY.
02/07/1999 CINCO DIAS - GENERAL INFORMATION
FERRODISA ULTIMA ULTIMA BUILDING
CONSTRUCTION OF A FIRST LINE coil
processing, which involves an investment of 1,200 mm. PESETAS, ARE
IN ADDITION TO OTHER investments worth 700 MM.
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 20/09/2011.
SITUATION BALANCE-SHEET
Assets
Figures given in thousands €
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
7.094,00 |
9,20 |
9.998,00 |
15,71 |
10.979,00 |
12,17 |
|
I. Intangible assets |
6,00 |
0,01 |
18,00 |
0,03 |
41,00 |
0,05 |
|
5. Software |
6,00 |
0,01 |
18,00 |
0,03 |
41,00 |
0,05 |
|
II. Tangible fixed assets |
7.088,00 |
9,19 |
8.691,00 |
13,65 |
10.529,00 |
11,67 |
|
1. Property, plant and equipment |
5.101,00 |
6,61 |
5.332,00 |
8,38 |
5.559,00 |
6,16 |
|
2. Technical fittings and other tangible assets |
1.928,00 |
2,50 |
3.211,00 |
5,04 |
4.682,00 |
5,19 |
|
3. Fixed assets in progress and advances |
59,00 |
0,08 |
148,00 |
0,23 |
288,00 |
0,32 |
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
|
|
|
|
|
|
|
V. Long Term Financial Investments |
|
|
|
|
|
|
|
VI. Assets by deferred taxes |
|
|
1.289,00 |
2,02 |
409,00 |
0,45 |
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
70.041,00 |
90,80 |
53.662,00 |
84,29 |
79.265,00 |
87,83 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
37.108,00 |
48,11 |
21.940,00 |
34,46 |
42.440,00 |
47,03 |
|
2. Raw material inventory |
31.815,00 |
41,25 |
15.998,00 |
25,13 |
32.693,00 |
36,23 |
|
4. Finished goods |
5.293,00 |
6,86 |
5.942,00 |
9,33 |
9.747,00 |
10,80 |
|
b) Short production cycle |
5.293,00 |
6,86 |
5.942,00 |
9,33 |
9.747,00 |
10,80 |
|
III. Trade Debtors and other receivable accounts |
23.113,00 |
29,96 |
21.685,00 |
34,06 |
36.325,00 |
40,25 |
|
1. Clients |
22.393,00 |
29,03 |
19.467,00 |
30,58 |
30.521,00 |
33,82 |
|
b) Clients for sales and short term services
rendering |
22.393,00 |
29,03 |
19.467,00 |
30,58 |
30.521,00 |
33,82 |
|
2. Clients group and associated companies |
440,00 |
0,57 |
533,00 |
0,84 |
734,00 |
0,81 |
|
3. Other debts |
230,00 |
0,30 |
264,00 |
0,41 |
539,00 |
0,60 |
|
4. Staff |
50,00 |
0,06 |
29,00 |
0,05 |
26,00 |
0,03 |
|
5. Assets by current taxes |
|
|
|
|
1.530,00 |
1,70 |
|
6. Other credits with the Public Administrations |
|
|
1.392,00 |
2,19 |
2.975,00 |
3,30 |
|
IV. Short term investments in associated and affiliated companies |
9.511,00 |
12,33 |
9.883,00 |
15,52 |
|
|
|
2. Credits to companies |
9.478,00 |
12,29 |
9.863,00 |
15,49 |
|
|
|
5. Other financial assets |
33,00 |
0,04 |
20,00 |
0,03 |
|
|
|
V. Short term financial investments |
11,00 |
0,01 |
9,00 |
0,01 |
54,00 |
0,06 |
|
5. Other financial assets |
11,00 |
0,01 |
9,00 |
0,01 |
54,00 |
0,06 |
|
VI. Short term periodifications |
95,00 |
0,12 |
107,00 |
0,17 |
2,00 |
0,00 |
|
VII. Cash and equivalents |
203,00 |
0,26 |
38,00 |
0,06 |
444,00 |
0,49 |
|
1. Treasury |
203,00 |
0,26 |
38,00 |
0,06 |
444,00 |
0,49 |
|
TOTAL ASSETS (A + B) |
77.135,00 |
100,00 |
63.660,00 |
100,00 |
90.244,00 |
100,00 |
Net Worth and Liabilities
Figures given in thousands €
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
|
A) NET WORTH |
54.778,00 |
71,02 |
51.268,00 |
80,53 |
53.327,00 |
59,09 |
|
A-1) Equity |
54.694,00 |
70,91 |
51.177,00 |
80,39 |
53.224,00 |
58,98 |
|
I. Capital |
7.212,00 |
9,35 |
7.212,00 |
11,33 |
7.212,00 |
7,99 |
|
1. Authorized capital |
7.212,00 |
9,35 |
7.212,00 |
11,33 |
7.212,00 |
7,99 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
46.937,00 |
60,85 |
46.937,00 |
73,73 |
46.937,00 |
52,01 |
|
1. Legal and statutory |
1.442,00 |
1,87 |
1.442,00 |
2,27 |
1.442,00 |
1,60 |
|
2. Other funds |
45.495,00 |
58,98 |
45.495,00 |
71,47 |
45.495,00 |
50,41 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
-2.972,00 |
-3,85 |
-925,00 |
-1,45 |
|
|
|
2. (Prior years losses) |
-2.972,00 |
-3,85 |
-925,00 |
-1,45 |
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
3.517,00 |
4,56 |
-2.047,00 |
-3,22 |
-925,00 |
-1,02 |
|
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 |
84,00 |
0,11 |
91,00 |
0,14 |
103,00 |
0,11 |
|
B) NON CURRENT LIABILITIES |
36,00 |
0,05 |
39,00 |
0,06 |
20.420,00 |
22,63 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
|
|
|
|
|
|
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
20.376,00 |
22,58 |
|
IV. Liabilities by deferred taxes |
36,00 |
0,05 |
39,00 |
0,06 |
44,00 |
0,05 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
22.321,00 |
28,94 |
12.353,00 |
19,40 |
16.497,00 |
18,28 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
191,00 |
0,25 |
2.459,00 |
3,86 |
5.961,00 |
6,61 |
|
2. Debts with bank entities |
167,00 |
0,22 |
2.433,00 |
3,82 |
5.921,00 |
6,56 |
|
5. Other financial liabilities |
24,00 |
0,03 |
26,00 |
0,04 |
40,00 |
0,04 |
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
20,00 |
0,02 |
|
V. Trade creditors and other payable accounts |
22.130,00 |
28,69 |
9.894,00 |
15,54 |
10.516,00 |
11,65 |
|
1. Suppliers |
16.054,00 |
20,81 |
2.490,00 |
3,91 |
2.759,00 |
3,06 |
|
b) Short term suppliers |
16.054,00 |
20,81 |
2.490,00 |
3,91 |
2.759,00 |
3,06 |
|
2. Suppliers group and associated companies |
2.662,00 |
3,45 |
4.178,00 |
6,56 |
3.761,00 |
4,17 |
|
3. Different creditors |
1.848,00 |
2,40 |
2.045,00 |
3,21 |
2.625,00 |
2,91 |
|
4. Staff (pending remunerations) |
738,00 |
0,96 |
814,00 |
1,28 |
840,00 |
0,93 |
|
5. Liabilities by current taxes |
151,00 |
0,20 |
|
|
|
|
|
6. Other debts with Public Administrations |
677,00 |
0,88 |
367,00 |
0,58 |
531,00 |
0,59 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
77.135,00 |
100,00 |
63.660,00 |
100,00 |
90.244,00 |
100,00 |
PROFIT AND LOSS
ACCOUNT
Figures given in thousands €
|
|
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
95.609,00 |
99,13 |
78.015,00 |
97,92 |
140.428,00 |
98,04 |
|
A) Sales |
95.052,00 |
98,55 |
77.378,00 |
97,12 |
139.362,00 |
97,30 |
|
b) Services provided |
557,00 |
0,58 |
637,00 |
0,80 |
1.066,00 |
0,74 |
|
2. Variation in stocks of finished goods and work in progress |
-649,00 |
-0,67 |
-3.804,00 |
-4,77 |
-1.891,00 |
-1,32 |
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-73.548,00 |
-76,25 |
-60.511,00 |
-75,95 |
-118.306,00 |
-82,60 |
|
a) Material consumed |
-73.571,00 |
-76,28 |
-61.233,00 |
-76,86 |
-117.306,00 |
-81,90 |
|
b) Raw materials consumed |
-1.021,00 |
-1,06 |
-649,00 |
-0,81 |
-745,00 |
-0,52 |
|
c) Works carried out for other companies |
|
|
|
|
-1,00 |
0,00 |
|
d) Deterioration on merchandises, raw materials and other supplies |
1.044,00 |
1,08 |
1.371,00 |
1,72 |
-254,00 |
-0,18 |
|
5. Other operating income |
842,00 |
0,87 |
1.658,00 |
2,08 |
2.801,00 |
1,96 |
|
a) Other incomes |
842,00 |
0,87 |
1.658,00 |
2,08 |
2.794,00 |
1,95 |
|
b) Operating grants included in the exercise result |
|
|
|
|
7,00 |
0,00 |
|
6. Labour cost |
-7.923,00 |
-8,21 |
-8.169,00 |
-10,25 |
-8.780,00 |
-6,13 |
|
a) Wages and similar expenses |
-6.140,00 |
-6,37 |
-6.227,00 |
-7,82 |
-6.668,00 |
-4,66 |
|
b) Social costs |
-1.783,00 |
-1,85 |
-1.942,00 |
-2,44 |
-2.112,00 |
-1,47 |
|
7. Other operating costs |
-7.966,00 |
-8,26 |
-8.054,00 |
-10,11 |
-12.632,00 |
-8,82 |
|
a) External services |
-7.665,00 |
-7,95 |
-7.513,00 |
-9,43 |
-11.784,00 |
-8,23 |
|
b) Taxes |
-161,00 |
-0,17 |
-103,00 |
-0,13 |
-181,00 |
-0,13 |
|
c) Losses, deterioration and variation on business operations
provisions |
-28,00 |
-0,03 |
-298,00 |
-0,37 |
-221,00 |
-0,15 |
|
d) Other day to day expenses |
-112,00 |
-0,12 |
-140,00 |
-0,18 |
-446,00 |
-0,31 |
|
8. Amortization of fixed assets |
-1.625,00 |
-1,68 |
-1.957,00 |
-2,46 |
-2.126,00 |
-1,48 |
|
9. Allocation of subventions on non financial investments and other |
10,00 |
0,01 |
17,00 |
0,02 |
24,00 |
0,02 |
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
|
|
20,00 |
0,01 |
|
a) Deteriorations and losses |
|
|
|
|
20,00 |
0,01 |
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
|
|
|
|
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
4.750,00 |
4,92 |
-2.805,00 |
-3,52 |
-462,00 |
-0,32 |
|
14. Financial income |
380,00 |
0,39 |
85,00 |
0,11 |
33,00 |
0,02 |
|
a) From net worth instruments participations |
380,00 |
0,39 |
85,00 |
0,11 |
33,00 |
0,02 |
|
a 1) On group and associated companies |
367,00 |
0,38 |
20,00 |
0,03 |
|
|
|
a 2) On third parties |
13,00 |
0,01 |
65,00 |
0,08 |
33,00 |
0,02 |
|
15. Financial expenses |
-106,00 |
-0,11 |
-216,00 |
-0,27 |
-548,00 |
-0,38 |
|
a) For debts with associated and affiliated companies |
|
|
-156,00 |
-0,20 |
-348,00 |
-0,24 |
|
b) For debts with third parties |
-106,00 |
-0,11 |
-60,00 |
-0,08 |
-200,00 |
-0,14 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
1,00 |
0,00 |
9,00 |
0,01 |
-357,00 |
-0,25 |
|
18. Deterioration and result for disposal of financial instruments |
|
|
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
275,00 |
0,29 |
-122,00 |
-0,15 |
-872,00 |
-0,61 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
5.025,00 |
5,21 |
-2.927,00 |
-3,67 |
-1.334,00 |
-0,93 |
|
20. Taxes on profits |
-1.508,00 |
-1,56 |
880,00 |
1,10 |
409,00 |
0,29 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
3.517,00 |
3,65 |
-2.047,00 |
-2,57 |
-925,00 |
-0,65 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
3.517,00 |
3,65 |
-2.047,00 |
-2,57 |
-925,00 |
-0,65 |
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
Figures given in thousands €
|
NET WORTH CHANGES (1/3) |
31/12/2010 (12) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
3.517,00 |
-2.047,00 |
-925,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
|
I. For valuation of financial instruments |
|
|
|
|
II. Cash flow coverage |
|
|
|
|
III. Received legacies, grants and subventions |
|
|
|
|
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 |
-10,00 |
-17,00 |
-24,00 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
|
XII. Conversion differences |
|
|
|
|
XIII. Tax effect |
3,00 |
5,00 |
7,00 |
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
-7,00 |
-12,00 |
-17,00 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
3.510,00 |
-2.059,00 |
-942,00 |
Total net worth changes status
Figures given in thousands €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
RESULTS FROM PREVIOUS YEARS |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
7.212,00 |
45.148,00 |
|
4.789,00 |
|
I. Adjustments by change of criteria in the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
7.212,00 |
45.148,00 |
|
4.789,00 |
|
I. Total recognized income and expenses |
|
|
|
-925,00 |
|
II. Operations with partners or owners |
|
1.789,00 |
|
-4.789,00 |
|
4. (-) Dividends distribution |
|
|
|
-3.000,00 |
|
7. Other operations with partners or owners |
|
1.789,00 |
|
-1.789,00 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
7.212,00 |
46.937,00 |
|
-925,00 |
|
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) |
7.212,00 |
46.937,00 |
|
-925,00 |
|
I. Total recognized income and expenses |
|
|
|
-2.047,00 |
|
II. Operations with partners or owners |
|
|
-925,00 |
925,00 |
|
7. Other operations with partners or owners |
|
|
-925,00 |
925,00 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
7.212,00 |
46.937,00 |
-925,00 |
-2.047,00 |
|
I. Adjustments by change of criteria in the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2009) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2010) |
7.212,00 |
46.937,00 |
-925,00 |
-2.047,00 |
|
I. Total recognized income and expenses |
|
|
|
3.517,00 |
|
II. Operations with partners or owners |
|
|
-2.047,00 |
2.047,00 |
|
7. Other operations with partners or owners |
|
|
-2.047,00 |
2.047,00 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
7.212,00 |
46.937,00 |
-2.972,00 |
3.517,00 |
|
NET WORTH CHANGES ( 3 /3) |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
120,00 |
57.269,00 |
|
|
|
I. Adjustments by change of criteria in the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
120,00 |
57.269,00 |
|
|
|
I. Total recognized income and expenses |
-17,00 |
-942,00 |
|
|
|
II. Operations with partners or owners |
|
-3.000,00 |
|
|
|
4. (-) Dividends distribution |
|
-3.000,00 |
|
|
|
7. Other operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
103,00 |
53.327,00 |
|
|
|
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) |
103,00 |
53.327,00 |
|
|
|
I. Total recognized income and expenses |
-12,00 |
-2.059,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
7. Other operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
91,00 |
51.268,00 |
|
|
|
I. Adjustments by change of criteria in the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2009) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2010) |
91,00 |
51.268,00 |
|
|
|
I. Total recognized income and expenses |
-7,00 |
3.510,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
7. Other operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
84,00 |
54.778,00 |
|
|
CASH FLOW STATUS
Figures given in thousands €
|
|
31/12/2010 (12) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
|
1. exercise result before taxes |
5.025,00 |
-2.927,00 |
-1.334,00 |
|
2. Results adjustments |
30,00 |
1.124,00 |
3.208,00 |
|
a) Amortization of fixed assets (+) |
1.625,00 |
1.957,00 |
2.126,00 |
|
c) Change of Provisions (+/-) |
-1.310,00 |
-938,00 |
254,00 |
|
d) Grants allocation (-) |
-10,00 |
-17,00 |
-24,00 |
|
e) Results for decline and disposal of fixed assets (+/-) |
|
|
-20,00 |
|
g) Financial income (-) |
-380,00 |
-85,00 |
-33,00 |
|
f) Financial expenses (+) |
106,00 |
216,00 |
548,00 |
|
i) Change difference (+/-) |
-1,00 |
-9,00 |
357,00 |
|
3. Changes in current capital |
-3.260,00 |
33.861,00 |
9.509,00 |
|
a) Stocks (+/-) |
-13.886,00 |
21.736,00 |
9.815,00 |
|
b) Debtors and other receivable accounts (+/-) |
-1.465,00 |
12.812,00 |
2.694,00 |
|
c) Other current assets (+/-) |
10,00 |
-60,00 |
-50,00 |
|
d) Creditors and other payable accounts (+/-) |
12.085,00 |
-613,00 |
-2.990,00 |
|
e) Other current liabilities (+/-) |
-4,00 |
-14,00 |
40,00 |
|
4. Other cash flow coming from operating activities |
261,00 |
1.359,00 |
-4.576,00 |
|
a) Interests payments (-) |
-106,00 |
-236,00 |
-1.850,00 |
|
b) Dividends collections (+) |
367,00 |
|
|
|
c) Interests collections (+) |
|
65,00 |
33,00 |
|
d) Collections (payments) for profit tax (+/-) |
|
1.530,00 |
-2.759,00 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
2.056,00 |
33.417,00 |
6.807,00 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
|
6. Investment payments (-) |
-10,00 |
-96,00 |
-953,00 |
|
b) Intangible assets |
|
|
-18,00 |
|
c) Tangible assets |
-10,00 |
-96,00 |
-935,00 |
|
7. Disinvestment collections (+) |
385,00 |
|
20,00 |
|
a) Group and associated companies |
385,00 |
|
|
|
c) Tangible assets |
|
|
20,00 |
|
8. Cash Flow in investment activities (6 + 7) |
375,00 |
-96,00 |
-933,00 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
|
9. Net worth instruments collections and payments |
|
|
|
|
10. Financial liabilities instruments collections and payments |
-2.266,00 |
-33.727,00 |
-2.454,00 |
|
b) Return and amortization of |
-2.266,00 |
-33.727,00 |
-2.454,00 |
|
2. Debts with bank entities (-) |
-2.266,00 |
-3.488,00 |
-2.454,00 |
|
3. Debts with group and associated companies (-) |
|
-30.239,00 |
|
|
11. Payments for dividends and remunerations of other net worth
instruments |
|
|
-3.000,00 |
|
a) Dividends (-) |
|
|
-3.000,00 |
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-2.266,00 |
-33.727,00 |
-5.454,00 |
|
D) Exchange rate variations effect |
|
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
165,00 |
-406,00 |
420,00 |
|
Cash or equivalents at the beginning of the exercise |
38,00 |
444,00 |
24,00 |
|
Cash or equivalents at the end of the exercise |
203,00 |
38,00 |
444,00 |
RATIOS
|
|
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
47.720,00 |
15,52 |
41.309,00 |
-34,19 |
62.768,00 |
|
Working capital ratio |
0,62 |
-4,62 |
0,65 |
-7,14 |
0,70 |
|
Soundness Ratio |
7,71 |
50,59 |
5,12 |
5,57 |
4,85 |
|
Average Collection Period (days) |
87 |
-12,95 |
100 |
7,34 |
93 |
|
Average Payment Period (days) |
98 |
88,19 |
52 |
80,00 |
29 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
313,79 |
-27,77 |
434,40 |
-9,59 |
480,48 |
|
Quick Ratio (%) |
0,96 |
152,63 |
0,38 |
-87,42 |
3,02 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
0,25 |
-93,52 |
3,86 |
-86,79 |
29,21 |
|
External Financing Average Cost |
0,56 |
522,22 |
0,09 |
350,00 |
0,02 |
|
Debt Service Coverage |
0,09 |
28,57 |
0,07 |
-98,19 |
3,87 |
|
Interest Coverage |
44,81 |
444,96 |
-12,99 |
-1.446,43 |
-0,84 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
2,15 |
-94,98 |
42,83 |
783,09 |
4,85 |
|
Auto financing generated by Assets (%) |
2,66 |
-94,91 |
52,49 |
596,15 |
7,54 |
|
Breakdown Point |
1,05 |
8,25 |
0,96 |
-3,00 |
1,00 |
|
Average Sales Volume per Employee |
438,57 |
22,55 |
357,87 |
-40,37 |
600,12 |
|
Average Cost per Employee |
36,34 |
-3,02 |
37,47 |
-0,13 |
37,52 |
|
Assets Turnover |
1,24 |
0,81 |
1,22 |
-21,15 |
1,56 |
|
Inventory Turnover (days) |
182 |
39,12 |
131 |
1,11 |
129 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
6,16 |
239,68 |
-4,41 |
-764,71 |
-0,51 |
|
Operating Profitability (%) |
8,26 |
721,80 |
-1,33 |
-171,12 |
1,87 |
|
Return on Equity (ROE) (%) |
9,19 |
260,66 |
-5,72 |
-127,89 |
-2,51 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
9,20 |
56,19 |
-46,99 |
|
A) CURRENT ASSETS |
90,80 |
43,81 |
46,99 |
|
LIABILITIES |
|||
|
A) NET WORTH |
71,02 |
31,56 |
39,46 |
|
B) NON CURRENT LIABILITIES |
0,05 |
23,06 |
-23,01 |
|
C) CURRENT LIABILITIES |
28,94 |
45,38 |
-16,44 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,13 |
97,96 |
1,17 |
|
Other operating income |
0,87 |
2,04 |
-1,17 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-76,25 |
-72,76 |
-3,49 |
|
Variation in stocks of finished goods and work in progress |
-0,67 |
0,10 |
-0,77 |
|
GROSS MARGIN |
23,07 |
27,34 |
-4,27 |
|
Other operating costs |
-8,26 |
-9,66 |
1,40 |
|
Labour cost |
-8,21 |
-11,52 |
3,31 |
|
GROSS OPERATING RESULT |
6,60 |
6,17 |
0,43 |
|
Amortization of fixed assets |
-1,68 |
-2,95 |
1,27 |
|
Deterioration and result for fixed assets disposal |
|
0,02 |
|
|
Other expenses / income |
|
0,25 |
|
|
NET OPERATING RESULT |
4,92 |
3,48 |
1,44 |
|
Financial result |
0,29 |
-0,28 |
0,57 |
|
RESULT BEFORE TAX |
5,21 |
3,19 |
2,02 |
|
Taxes on profits |
-1,56 |
-0,82 |
-0,74 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
3,65 |
2,37 |
1,28 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
3,65 |
2,37 |
1,28 |
|
Amortization of fixed assets |
-1,68 |
-2,95 |
1,27 |
|
Deterioration and provisions variation |
1,05 |
-0,01 |
1,06 |
|
|
4,28 |
5,34 |
-1,06 |
Main Ratios
Figures given in thousands €
|
|
COMPANY (2010) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
47.720,00 |
-9.463,25 |
1.473,75 |
9.623,83 |
|
Working capital ratio |
0,62 |
-0,16 |
0,04 |
0,18 |
|
Soundness Ratio |
7,71 |
0,39 |
0,80 |
1,36 |
|
Average Collection Period (days) |
87 |
40 |
69 |
92 |
|
Average Payment Period (days) |
98 |
59 |
106 |
234 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
313,79 |
63,55 |
107,33 |
135,88 |
|
Quick Ratio (%) |
0,96 |
0,23 |
5,57 |
21,33 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
0,25 |
26,14 |
30,76 |
38,01 |
|
External Financing Average Cost |
0,56 |
0,03 |
0,05 |
0,07 |
|
Debt Service Coverage |
0,09 |
2,09 |
4,36 |
8,13 |
|
Interest Coverage |
44,81 |
1,25 |
1,73 |
7,65 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
2,15 |
3,61 |
5,18 |
6,60 |
|
Auto financing generated by Assets (%) |
2,66 |
3,48 |
5,96 |
10,37 |
|
Breakdown Point |
1,05 |
1,02 |
1,03 |
1,06 |
|
Average Sales Volume per Employee |
438,57 |
202,01 |
257,46 |
1.068,74 |
|
Average Cost per Employee |
36,34 |
37,73 |
45,45 |
49,26 |
|
Assets Turnover |
1,24 |
0,94 |
1,46 |
2,03 |
|
Inventory Turnover (days) |
182 |
44 |
51 |
89 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
6,16 |
1,67 |
3,60 |
9,23 |
|
Operating Profitability (%) |
8,26 |
5,96 |
8,51 |
13,24 |
|
Return on Equity (ROE) (%) |
9,19 |
2,24 |
11,80 |
24,47 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.71.79 |
|
Euro |
1 |
Rs.84.25 |
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.