MIRA
INFORM REPORT
|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
LORAMENDI S COOP |
|
|
|
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Registered Office : |
Calle Alibarra (Pg Ind Gobeo), 26 01010 Vitoria-Gasteiz Araba/Álava |
|
|
|
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Country : |
Spain |
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|
|
Financials (as on) : |
31.12.2009 |
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|
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Date of Incorporation : |
01.01.1973 |
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Legal Form : |
Cooperative from Basque Country |
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Line of Business : |
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|
|
No. of Employees : |
140 |
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 |
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|
|
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
spain - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest in the world, and its per capita income roughly matches that of Germany and France. However, after almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.1% in 2010, before turning positive in 2011, making Spain the last major economy to emerge from the global recession. The reversal in Spain''s economic growth reflected a significant decline in construction amid an oversupply of housing and falling consumer spending, while exports actually have begun to grow. Government efforts to boost the economy through stimulus spending, extended unemployment benefits, and loan guarantees did not prevent a sharp rise in the unemployment rate, which rose from a low of about 8% in 2007 to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target negotiated between Spain and the EU. Spain''s large budget deficit and poor economic growth prospects have made it vulnerable to financial contagion from other highly-indebted euro zone members despite the government''s efforts to cut spending, privatize industries, and boost competitiveness through labor market reforms. Spanish banks'' high exposure to the collapsed domestic construction and real estate market also poses a continued risk for the sector. The government oversaw a restructuring of the savings bank sector in 2010, and provided some $15 billion in capital to various institutions. Investors remain concerned that Madrid may need to bail out more troubled banks. The Bank of Spain, however, is seeking to boost confidence in the financial sector by pressuring banks to come clean about their losses and consolidate into stronger groups.
|
Source : CIA |
Company name
LORAMENDI S COOP
CIF/NIF: F01365550
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: LORAMENDI S COOP
Other names: YES
Current Address: CALLE ALIBARRA (PG IND
GOBEO), 26
01010 VITORIA-GASTEIZ ARABA/ÁLAVA
Telephone number: 945184300 Fax: 945184304
URL: www.loramendi.com
Corporate e-mail: info@loramendi.com
Trade Risk
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Latest sales known (2013): 75.000.000,00
€ (Forecast)
Balance sheet latest sales (2009): 33.635.410,00 € (Own Sources)
Result: -278.466 €
Total Assets: 31.054.549 €
Share capital: 7.156.981,00 €
Employees: 140
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 01/02/2004
Activity: Mfg. of machinery for min. Quarrying
& construction
NACE 2009 CODE: 2891
International Operations: Imports and
Exports
Corporate Structure
Governing Board President:
Participations: 6
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2010
Latest act published in BORME: 26/01/2005 Takeover merger
project filing
Latest press article: 03/12/2012 EL ECONOMISTA (GENERAL
INFORMATION)
Bank Entities: There are
Rating Explanation
Financial situation
For the company’s financial situation calculation, alternative
indicators to the financial statements have been used, as these ones have lost
their validity regarding the current financial situation analysis caused by
their age.
Company Structure
The company’s capitalization degree determines that its structure
is normal.
The company’s size is big depending on its sales volume.
The employees evolution has been 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.
Reasons of the last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
29/01/2013 |
Increase |
14 |
Obsolescence of the available financial information. |
|
30/11/2012 |
Reduction |
7 |
There has been a change in the formula version. |
|
24/02/2012 |
Reduction |
12 |
New information has been loaded on our systems. |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims
AFFECTED BY: No significant element.
Summary
COMPANY NOT INCLUDED IN EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI -
SECTORIAL DEFAULTS OF PAYMENT
There is no information related to the nif/cif consulted in the in the
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF PAYMENT file
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
01/02/2013 15:02:43
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 €
|
|
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
A) NON CURRENT ASSETS |
6.567.490,00 |
21,15 |
|
B) CURRENT ASSETS |
24.487.059,00 |
78,85 |
|
LIABILITIES |
|
|
|
A) NET WORTH |
6.257.995,00 |
20,15 |
|
B) NON CURRENT LIABILITIES |
4.654.934,00 |
14,99 |
|
C) CURRENT LIABILITIES |
20.141.620,00 |
64,86 |
Profit and loss account analysis
Figures given in €
|
|
2013 FORECAST |
2012 ESTIMATED |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
75.000.000,00 |
73.000.000,00 |
33.635.410,00 |
|
|
GROSS MARGIN |
|
|
10.430.205,00 |
31,01 |
|
EBITDA |
|
|
219.835,00 |
0,65 |
|
EBIT |
|
|
-36.700,00 |
-0,11 |
|
NET RESULT |
|
|
-278.466,00 |
-0,83 |
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total assets |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|||
|
A) NON CURRENT ASSETS |
21,15 |
38,63 |
-17,48 |
|
|
|
|
|
A) CURRENT ASSETS |
78,85 |
61,37 |
17,48 |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|||
|
A) NET WORTH |
20,15 |
12,57 |
7,58 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
14,99 |
24,06 |
-9,07 |
|
|
|
|
|
C) CURRENT LIABILITIES |
64,86 |
63,38 |
1,48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income |
|
|
|
|
|
|
|
|
SALES |
99,08 |
99,38 |
-0,30 |
|
|
|
|
|
GROSS MARGIN |
30,73 |
35,05 |
-4,32 |
|
|
|
|
|
EBITDA |
0,65 |
6,45 |
-5,80 |
|
|
|
|
|
EBIT |
-0,11 |
4,76 |
-4,87 |
|
|
|
|
|
NET RESULT |
-0,82 |
3,49 |
-4,31 |
|
|
|
|
Sector Composition
Compared sector (NACE 2009): 2891
Number of companies: 5
Size (sales figure): 7,000,000.00 - 40,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: GASSO AUDITORES S.L.
ADDRESSES
Current Legal Seat Address:
CALLE ALIBARRA (PG IND GOBEO), 26
01010 VITORIA-GASTEIZ ARABA/ÁLAVA
Characteristics of the current address
Type of establishment: factory
Local Situation: main
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
29/01/2013)
Operative Board Members : 4 (latest change: 29/01/2013)
Non-current positions : 2 (latest change: 29/01/2013)
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
GOVERNING BOARD PRESIDENT |
CORRAL, INAKI |
29/01/2013 |
|
|
|
|
|
POSITION |
NAME AND SURNAME |
|
Manager |
ALVAREZ, JAVIER |
|
Financial Manager |
DIAZ DE ALDA, CARLOS |
|
Human Resources Director |
MOLINA, ALMUDENA |
|
Commercial Director |
GARCIA, BORJA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
AURRENAK S. COOP. |
F01009166 |
27,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
MONDRAGON INVERSIONES S.P.E. S.COOP. |
F20182192 |
Indef. |
OWN SOURCES |
08/02/2011 |
|
|
TRABAJADORES DE LORAMENDI S COOP |
|
Indef. |
OWN SOURCES |
08/02/2011 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LORAMENDI INC |
UNITED STATES |
100,00 |
OWN SOURCES |
29/01/2013 |
|
|
LORAMENDI MEXICO |
MEXICO |
100,00 |
OWN SOURCES |
29/01/2013 |
|
|
LORAMENDI FRANCIA |
FRANCE |
100,00 |
OWN SOURCES |
29/01/2013 |
|
|
LORAMENDI VERTRIEBS |
GERMANY |
65,00 |
OWN SOURCES |
07/11/2005 |
|
|
KONIKER S. COOP. |
F20782009 |
Indef. |
OWN SOURCES |
24/11/2010 |
|
|
NECADEX XXI SOCIEDAD LIMITADA. |
B95062550 |
Indef. |
OWN SOURCES |
07/11/2005 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MOYVEN SL |
B20040929 |
10,00 |
OWN SOURCES |
26/04/2006 |
|
|
BURDINBERRI SL |
B01192673 |
Indef. |
OWN SOURCES |
23/02/2009 |
|
|
PIEZAS Y RODAJES, SA |
A50225614 |
Indef. |
MERCANTILE REGISTER |
31/12/2006 |
Company with rating inferior to 7
BUSINESS INFORMATION
Incorporation date: 01/02/2004
Establishment date: 01/01/1973
Founder’s Name: LORAMENDI SA
Activity: Mfg. of machinery for min. Quarrying &
construction
NACE 2009 CODE: 2891
NACE 2009 Activity: Manufacture of machinery for metallurgy
Activity description: Contruccion de maquinaria industrial para el
sector de la siderurgia
Latest employees figure: 140 (2013)
% of fixed employees: 100,00%
COMMERCIAL OPERATIONS
PURCHASES
Imports from: CEE
SALES
Exports to: CEE
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO SANTANDER, S.A. |
|
|
VITORIA-GASTEIZ |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
VITORIA-GASTEIZ |
|
|
BANCO ESPAŃOL DE CREDITO, S.A. |
|
|
VITORIA-GASTEIZ |
|
|
BANCO POPULAR ESPAŃOL, S.A. |
|
|
VITORIA-GASTEIZ |
|
|
CAJA LABORAL POPULAR COOP. DE CREDITO |
|
|
VITORIA-GASTEIZ |
|
Brand name: LORAMENDI (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 26/11/2009
Brand name: LORAMATIC (Valid)
Type: DENOMINATIVE Scope: INTERNATIONAL
Date: 25/04/1997
Brand name: KEYCORE (Valid)
Type: DENOMINATIVE Scope: INTERNATIONAL
Date: 06/06/1994
LEGAL
STRUCTURE
Constitution Data
Register Date: 01/02/2004
Legal form: Cooperative from Basque Country
Share capital: 7.156.981,00 €
Paid-up capital: 7.156.981,00 €
Obligation to fill in Financial Statements: NO
Chamber census: YES (2011)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 0
Acts on capital: 0
Acts on creation: 0
Acts on filed accounts: 0
Acts on identification: 0
Acts on Information: 0
Acts on proceedings: 1 (Last: 26/01/2005)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Takeover merger project filing |
26/01/2005 |
44922 |
Araba/Álava |
PRESS ARTICLES
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 1 (Last: 21/03/2012)
Informative data: 2 (Last: 03/12/2012, first: 16/03/2008)
Financial Information: 0
Negative information: 0
Business lines: 1 (Last: 29/11/2012)
Historical press releases: 4 (Last: 05/10/2006, first:
29/11/2005)
Latest press article published
03/12/2012 EL ECONOMISTA - GENERAL INFORMATION
For Loramendi-AURRENAK is an example
of how the partnership between 2
cos. can strengthen
them and throw them in foreign markets. Its turnover is on the rise and have clients include major multinational.
Its turnover is on the rise since 2009 and their joint
forecast for 2012 is at record levels, with
a figure of about 100 million, thanks to about 95% of
its sales comes from exports. FOUNDRY
CLUSTER AND TOOLS S.COOP. (Loramendi-AURRENAK)
is a second degree cooperative integrated turn by cooperatives
and AURRENAK Loramendi.
The cos. has a
plant in Chile and now finalizing another in
China and India
are not going to rule.
29/11/2012 EXPANSIÓN DEL PAIS VASCO - BUSINESS
PRIZES
The Chamber of Commerce of Alava has distinguished AURERNAK Loramendi firms, and OMEGA CELLARS ELEVATOR Eguren Ugarte for their efforts in internationalization. It has also recognized the MERCEDES BENZ factory in Vitoria and FITNESSBIT company.
21/03/2012 DEIA (Page 38) BRANCHES
The Mondragon Cooperative (MCC) will yield a good part of its facilities in the technology park being built in Pune (India), other Basque companies outside the group. Specifically, MONDRAGON will let other cos. use up to 40,000 square meters, a total of 160,000 available to the park, after the agreement ended 20/03/12 between SPRI and cooperative group. In the research park is planned to be installed different MONDRAGON owned cooperatives as FAGOR INDUSTRIAL and KIDE. Also could be installed and AURRENAK Loramendi.
16/03/2008 ESTRATEGIA EMPRESARIAL - GENERAL
INFORMATION
LORAMENDI HA COMENZADO 2008
WITH CONTRACTS FOR
UNOS 10 MM.EURO
in countries like Finland, USA, Germany, Czech Republic and India, it provides
an increase SUPERIOR
AL 30% IN U.S. invoicing for
2008. ASI CONFIRMS
SU lead WORLD
Y consolidate SU
NEGOGIO shape, surpassing
AN DEL market
share 20% worldwide. LA company. Exporter
in 2008 EL
95% SU billing
due AL Bajo
volume of investment
in LAS FUNDICIONES
SPAIN open 2
y Nueva branch
in CIUDAD DEL
CABO (South Africa)
Y in Pune (India). On the Other hand, the LO
LARGO 2007 the
company billing UNOS 30 MM. EUROS IN MACHINERY.
05/10/2006 LA GACETA - AGREEMENTS BETWEEN
COMPANIES
BASQUE Loramendi COOPERATIVE, MCC part
of the group, is to supply India's
Tata Motors AUTOMATIC LINE
FOR PRODUCTION engine
blocks. CONTRACT, amounting to
3 MM. EUROS, includes the delivery of the equipment in a record time
of 5 months. ORDER OF INDIA TO COOPERATIVE
is related to other MCC SUPPLY 2005 about 3 mm.
ORDER THESE SUPPOSED
TO TATA MOTORS
Loramendi ENTRY IN
INDIA And, more
specifically, in the foundry sector. This development has led to the COOPERATIVE ALAVESA to
study a possible implementation OWN
IN INDIA THROUGH
expanding cooperation with your agent
ELECTROMAG.
Complementary Information
Financial Information
El balance del Registro Mercantil cerrado a 31/12/2010 (Depósito 2010)
esta disponible en INFORMA, pero no ha sido cargado por ser illegible
Current situation
Según Borme Sección II de fecha 12/05/2005 esta sociedad se encuentra en
proceso de absorber a INVERSIONES IGLOR SL NIF B01043769.
FINANCIAL INFORMATION
The information contained in the Individual Filed Accounts of the
current report come from own sources that have nothing to do with the
Mercantile Register.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
6.567.490,00 |
21,15 |
|
I. Intangible assets |
4.785.843,00 |
15,41 |
|
1. Development |
241.636,00 |
0,78 |
|
3. Patents, licences , trademarks and similars |
19.676,00 |
0,06 |
|
4. Goodwill |
4.335.060,00 |
13,96 |
|
5. Software |
189.471,00 |
0,61 |
|
II. Tangible fixed assets |
252.163,00 |
0,81 |
|
2. Technical fittings and other tangible assets |
252.163,00 |
0,81 |
|
III. Real-estate investments |
|
|
|
IV. Long term investments in associated and affiliated companies |
309.848,00 |
1,00 |
|
1. Net worth instruments |
309.848,00 |
1,00 |
|
V. Long Term Financial Investments |
531.375,00 |
1,71 |
|
1. Net worth instruments |
474.755,00 |
1,53 |
|
5. Other financial assets |
56.620,00 |
0,18 |
|
VI. Assets by deferred taxes |
688.261,00 |
2,22 |
|
VII. Non current commercial debts |
|
|
|
B) CURRENT ASSETS |
24.487.059,00 |
78,85 |
|
I. Non-current assets maintained for sale |
|
|
|
II. Stocks |
7.551.490,00 |
24,32 |
|
2. Raw material inventory |
703.827,00 |
2,27 |
|
3. Work in Progress |
1.861.962,00 |
6,00 |
|
b) Short production cycle |
1.861.962,00 |
6,00 |
|
6. Pre-payments to suppliers |
4.985.701,00 |
16,05 |
|
III. Trade Debtors and other receivable accounts |
15.267.410,00 |
49,16 |
|
1. Clients |
13.549.966,00 |
43,63 |
|
b) Clients for sales and short term services
rendering |
13.549.966,00 |
43,63 |
|
2. Clients group and associated companies |
276.082,00 |
0,89 |
|
3. Other debts |
82.274,00 |
0,26 |
|
6. Other credits with the Public Administrations |
1.359.088,00 |
4,38 |
|
IV. Short term investments in associated and affiliated companies |
|
|
|
V. Short term financial investments |
1.431.000,00 |
4,61 |
|
5. Other financial assets |
1.431.000,00 |
4,61 |
|
VI. Short term periodifications |
102.065,00 |
0,33 |
|
VII. Cash and equivalents |
135.094,00 |
0,44 |
|
1. Treasury |
135.094,00 |
0,44 |
|
TOTAL ASSETS (A + B) |
31.054.549,00 |
100,00 |
Net Worth and Liabilities
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
|
A) NET WORTH |
6.257.995,00 |
20,15 |
|
A-1) Equity |
5.909.212,00 |
19,03 |
|
I. Capital |
7.156.981,00 |
23,05 |
|
1. Authorized capital |
7.156.981,00 |
23,05 |
|
II. Issue premium |
|
|
|
III. Reserves |
1.268.092,00 |
4,08 |
|
1. Legal and statutory |
438.862,00 |
1,41 |
|
2. Other funds |
829.230,00 |
2,67 |
|
IV. (Net worth own shares and participations) |
|
|
|
V. Results from previous years |
-2.237.395,00 |
-7,20 |
|
2. (Prior years losses) |
-2.237.395,00 |
-7,20 |
|
VI. Other loans from partners |
|
|
|
VII. Exercise Result |
-278.466,00 |
-0,90 |
|
VIII. (Interim dividend) |
|
|
|
IX. Other net worth instruments |
|
|
|
A-2) Value changes adjustments |
62.742,00 |
0,20 |
|
I. Financial assets available for sale |
|
|
|
II. Coverage operations |
|
|
|
III. Non-current assets and related liabilities, maintained for sale |
|
|
|
IV. Conversion differences |
|
|
|
V. Other |
62.742,00 |
0,20 |
|
A-3) Received legacies, grants and subventions |
286.041,00 |
0,92 |
|
B) NON CURRENT LIABILITIES |
4.654.934,00 |
14,99 |
|
I. Long term provisions |
136.917,00 |
0,44 |
|
4. Other provisions |
136.917,00 |
0,44 |
|
II. Long term debts |
4.439.536,00 |
14,30 |
|
2. Debts with bank entities |
1.882.314,00 |
6,06 |
|
5. Other financial liabilities |
2.557.222,00 |
8,23 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
IV. Liabilities by deferred taxes |
78.481,00 |
0,25 |
|
V. Long term periodifications |
|
|
|
VI. Non current trade creditors |
|
|
|
VII. Long term debts with special characteristics |
|
|
|
C) CURRENT LIABILITIES |
20.141.620,00 |
64,86 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
II. Short term provisions |
941.772,00 |
3,03 |
|
III. Short term debts |
1.199.232,00 |
3,86 |
|
2. Debts with bank entities |
1.055.390,00 |
3,40 |
|
5. Other financial liabilities |
143.842,00 |
0,46 |
|
IV. Short term debts with associated and affiliated companies |
|
|
|
V. Trade creditors and other payable accounts |
18.000.616,00 |
57,96 |
|
1. Suppliers |
14.457.362,00 |
46,55 |
|
b) Short term suppliers |
14.457.362,00 |
46,55 |
|
2. Suppliers group and associated companies |
432.277,00 |
1,39 |
|
3. Different creditors |
308.096,00 |
0,99 |
|
4. Staff (pending remunerations) |
284.788,00 |
0,92 |
|
6. Other debts with Public Administrations |
181.439,00 |
0,58 |
|
7. Clients pre-payments |
2.336.654,00 |
7,52 |
|
VI. Short term periodifications |
|
|
|
VII. Short term debts with special characteristics |
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
31.054.549,00 |
100,00 |
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
1. Net Turnover |
33.635.410,00 |
99,08 |
|
A) Sales |
33.635.410,00 |
99,08 |
|
2. Variation in stocks of finished goods and work in progress |
-1.563.812,00 |
-4,61 |
|
3. Works for its own assets |
128.869,00 |
0,38 |
|
4. Supplies |
-21.952.804,00 |
-64,67 |
|
a) Material consumed |
-21.487.301,00 |
-63,30 |
|
c) Works carried out for other companies |
-447.626,00 |
-1,32 |
|
d) Deterioration on merchandises, raw materials and other supplies |
-17.877,00 |
-0,05 |
|
5. Other operating income |
182.542,00 |
0,54 |
|
a) Other incomes |
54.862,00 |
0,16 |
|
b) Operating grants included in the exercise result |
127.680,00 |
0,38 |
|
6. Labour cost |
-830.631,00 |
-2,45 |
|
a) Wages and similar expenses |
-585.599,00 |
-1,73 |
|
b) Social costs |
-245.032,00 |
-0,72 |
|
7. Other operating costs |
-9.431.110,00 |
-27,78 |
|
a) External services |
-5.331.727,00 |
-15,71 |
|
b) Taxes |
-26.638,00 |
-0,08 |
|
c) Losses, deterioration and variation on business operations
provisions |
-31.429,00 |
-0,09 |
|
d) Other day to day expenses |
-4.041.316,00 |
-11,90 |
|
8. Amortization of fixed assets |
-207.229,00 |
-0,61 |
|
9. Allocation of subventions on non financial investments and other |
2.065,00 |
0,01 |
|
10. Provisions excess |
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
|
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) |
-36.700,00 |
-0,11 |
|
14. Financial income |
33.415,00 |
0,10 |
|
a) From net worth instruments participations |
17.956,00 |
0,05 |
|
a 2) On third parties |
17.956,00 |
0,05 |
|
b) From negotiable values and other financial instruments |
15.459,00 |
0,05 |
|
b 2) From third parties |
15.459,00 |
0,05 |
|
15. Financial expenses |
-285.286,00 |
-0,84 |
|
b) For debts with third parties |
-285.286,00 |
-0,84 |
|
16. Reasonable value variation on financial instruments |
|
|
|
17. Exchange differences |
64.039,00 |
0,19 |
|
18. Deterioration and result for disposal of financial instruments |
-53.934,00 |
-0,16 |
|
a) Deteriorations and losses |
-53.934,00 |
-0,16 |
|
19. Other financial income and expenses |
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-241.766,00 |
-0,71 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-278.466,00 |
-0,82 |
|
20. Taxes on profits |
|
|
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-278.466,00 |
-0,82 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-278.466,00 |
-0,82 |
NET WORTH CHANGES STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-278.466,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
I. For valuation of financial instruments |
12.919,00 |
|
1. Financial assets available for sale |
12.919,00 |
|
II. Cash flow coverage |
|
|
III. Received legacies, grants and subventions |
286.932,00 |
|
IV. For actuarial profits and losses and other adjustments |
|
|
V. Non-current assets and related liabilities, maintained for sale |
|
|
VI. Conversion differences |
|
|
VII. Tax effect |
-52.999,00 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
246.852,00 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
VIII. For valuation of financial instruments |
|
|
IX. Cash flow coverage |
|
|
X. Received legacies, grants and subventions |
-4.837,00 |
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
XII. Conversion differences |
|
|
XIII. Tax effect |
967,00 |
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
-3.870,00 |
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-35.484,00 |
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) |
7.409.287,00 |
1.281.152,00 |
-1.277.791,00 |
-1.533.355,00 |
|
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) |
7.409.287,00 |
1.281.152,00 |
-1.277.791,00 |
-1.533.355,00 |
|
I. Total recognized income and expenses |
|
|
|
-278.466,00 |
|
II. Operations with partners or owners |
-252.306,00 |
-13.060,00 |
573.751,00 |
|
|
1. Capital Increases |
756.750,00 |
|
42.316,00 |
|
|
2. (-) Capital reductions |
-100.936,00 |
-13.060,00 |
|
|
|
7. Operations with partners or owners |
-908.120,00 |
|
531.435,00 |
|
|
III. Other net worth variations |
|
|
-1.533.355,00 |
1.533.355,00 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
7.156.981,00 |
1.268.092,00 |
-2.237.395,00 |
-278.466,00 |
|
NET WORTH CHANGES ( 3 /3) |
VALUE CHANGES ADJUSTMENTS |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
45.435,00 |
60.366,00 |
5.985.094,00 |
|
|
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) |
45.435,00 |
60.366,00 |
5.985.094,00 |
|
|
I. Total recognized income and expenses |
17.307,00 |
225.675,00 |
-35.484,00 |
|
|
II. Operations with partners or owners |
|
|
308.385,00 |
|
|
1. Capital Increases |
|
|
756.750,00 |
|
|
2. (-) Capital reductions |
|
|
-71.680,00 |
|
|
7. Operations with partners or owners |
|
|
-376.685,00 |
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
62.742,00 |
286.041,00 |
6.257.995,00 |
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2009 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
1. exercise result before taxes |
-278.466,00 |
|
2. Results adjustments |
496.235,00 |
|
a) Amortization of fixed assets (+) |
207.229,00 |
|
b) Value correction for deterioration (+/-) |
71.811,00 |
|
c) Change of Provisions (+/-) |
31.429,00 |
|
d) Grants allocation (-) |
-2.065,00 |
|
g) Financial income (-) |
-33.415,00 |
|
f) Financial expenses (+) |
285.286,00 |
|
i) Change difference (+/-) |
-64.040,00 |
|
3. Changes in current capital |
1.231.223,00 |
|
a) Stocks (+/-) |
-2.144.097,00 |
|
b) Debtors and other receivable accounts (+/-) |
-1.086.856,00 |
|
c) Other current assets (+/-) |
-77.516,00 |
|
d) Creditors and other payable accounts (+/-) |
4.539.692,00 |
|
4. Other cash flow coming from operating activities |
-187.831,00 |
|
a) Interests payments (-) |
-285.286,00 |
|
c) Interests collections (+) |
33.415,00 |
|
e) Other payments (collections) (-/+) |
64.040,00 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
1.261.161,00 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
6. Investment payments (-) |
-385.069,00 |
|
a) Group and associated companies |
-10.000,00 |
|
b) Intangible assets |
-224.824,00 |
|
c) Tangible assets |
-22.854,00 |
|
e) Other financial assets |
-127.391,00 |
|
7. Disinvestment collections (+) |
|
|
8. Cash Flow in investment activities (6 + 7) |
-385.069,00 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
9. Net worth instruments collections and payments |
367.001,00 |
|
c) Own net worth instruments acquisition (-) |
-477.621,00 |
|
d) Own net worth instruments disposal (+) |
756.750,00 |
|
e) Received legacies, grants and subventions (+) |
87.872,00 |
|
10. Financial liabilities instruments collections and payments |
-1.120.551,00 |
|
a) Issue |
271.462,00 |
|
2. Debts with bank entities (+) |
271.462,00 |
|
b) Return and amortization of |
-1.392.013,00 |
|
5. Other debts (-) |
-1.392.013,00 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-753.550,00 |
|
D) Exchange rate variations effect |
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
122.542,00 |
|
Cash or equivalents at the beginning of the exercise |
12.552,00 |
|
Cash or equivalents at the end of the exercise |
135.094,00 |
RATIOS
|
|
31/12/2009 (12) |
|
BALANCE RATIOS |
|
|
Working Capital (€) |
4.345.439,00 |
|
Working capital ratio |
0,14 |
|
Soundness Ratio |
0,90 |
|
Average Collection Period (days) |
163 |
|
Average Payment Period (days) |
207 |
|
LIQUIDITY RATIOS |
|
|
Current Ratio (%) |
121,57 |
|
Quick Ratio (%) |
7,78 |
|
DEBT RATIOS |
|
|
Borrowing percentage (%) |
18,16 |
|
External Financing Average Cost |
0,05 |
|
Debt Service Coverage |
4,47 |
|
Interest Coverage |
-0,13 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
Auto financing generated by sales (%) |
3,75 |
|
Auto financing generated by Assets (%) |
4,06 |
|
Breakdown Point |
1,00 |
|
Average Sales Volume per Employee |
2.102.213,12 |
|
Average Cost per Employee |
51.914,44 |
|
Assets Turnover |
1,08 |
|
Inventory Turnover (days) |
124 |
|
RESULTS RATIOS |
|
|
Return on Assets (ROA) (%) |
-0,12 |
|
Operating Profitability (%) |
0,55 |
|
Return on Equity (ROE) (%) |
-4,71 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
21,15 |
38,63 |
-17,48 |
|
A) CURRENT ASSETS |
78,85 |
61,37 |
17,48 |
|
LIABILITIES |
|||
|
A) NET WORTH |
20,15 |
12,57 |
7,58 |
|
B) NON CURRENT LIABILITIES |
14,99 |
24,06 |
-9,07 |
|
C) CURRENT LIABILITIES |
64,86 |
63,38 |
1,48 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,08 |
99,38 |
-0,30 |
|
Other operating income |
0,92 |
0,62 |
0,30 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-64,67 |
-62,81 |
-1,86 |
|
Variation in stocks of finished goods and work in progress |
-4,61 |
-2,14 |
-2,47 |
|
GROSS MARGIN |
30,73 |
35,05 |
-4,32 |
|
Other operating costs |
-27,78 |
-9,40 |
-18,38 |
|
Labour cost |
-2,45 |
-19,55 |
17,10 |
|
GROSS OPERATING RESULT |
0,50 |
6,10 |
-5,60 |
|
Amortization of fixed assets |
-0,61 |
-1,74 |
1,13 |
|
Deterioration and result for fixed assets disposal |
|
0,38 |
|
|
Other expenses / income |
|
0,03 |
|
|
NET OPERATING RESULT |
-0,11 |
4,76 |
-4,87 |
|
Financial result |
-0,71 |
-0,43 |
-0,28 |
|
RESULT BEFORE TAX |
-0,82 |
4,33 |
-5,15 |
|
Taxes on profits |
|
-0,84 |
|
|
RESULT COMING FROM CONTINUED OPERATIONS |
-0,82 |
3,49 |
-4,31 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
-0,82 |
3,49 |
-4,31 |
|
Amortization of fixed assets |
-0,61 |
-1,74 |
1,13 |
|
Deterioration and provisions variation |
-0,15 |
0,05 |
-0,20 |
|
|
-0,06 |
5,18 |
-5,24 |
Main Ratios
Figures given in €
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
4.345.439,00 |
-1.503.728,30 |
177.908,25 |
240.643,00 |
|
Working capital ratio |
0,14 |
-0,07 |
0,02 |
0,05 |
|
Soundness Ratio |
0,90 |
0,36 |
0,58 |
1,29 |
|
Average Collection Period (days) |
163 |
106 |
186 |
227 |
|
Average Payment Period (days) |
207 |
112 |
142 |
322 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
121,57 |
90,87 |
102,33 |
106,26 |
|
Quick Ratio (%) |
7,78 |
7,93 |
14,67 |
18,96 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
18,16 |
8,35 |
13,86 |
24,64 |
|
External Financing Average Cost |
0,05 |
0,03 |
0,05 |
0,07 |
|
Debt Service Coverage |
4,47 |
1,37 |
2,21 |
4,88 |
|
Interest Coverage |
-0,13 |
1,94 |
6,94 |
9,63 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
3,75 |
2,56 |
3,76 |
6,43 |
|
Auto financing generated by Assets (%) |
4,06 |
3,49 |
5,46 |
6,27 |
|
Breakdown Point |
1,00 |
1,02 |
1,04 |
1,08 |
|
Average Sales Volume per Employee |
2.102.213,12 |
160.375,03 |
221.875,00 |
533.891,44 |
|
Average Cost per Employee |
51.914,44 |
36.654,03 |
44.800,40 |
50.593,75 |
|
Assets Turnover |
1,08 |
0,48 |
0,85 |
2,07 |
|
Inventory Turnover (days) |
124 |
12 |
24 |
170 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-0,12 |
2,56 |
5,07 |
5,59 |
|
Operating Profitability (%) |
0,55 |
3,89 |
7,74 |
7,96 |
|
Return on Equity (ROE) (%) |
-4,71 |
11,73 |
21,65 |
52,22 |
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.