MIRA
INFORM REPORT
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Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
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Name : |
REALONDA, SA |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.01.1952 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
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No. of Employees : |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
REALONDA, SA
CIF/NIF: A12004180
Company situation: Active
EXECUTIVE
SUMMARY
Identification
Current Business Name: REALONDA, SA
Commercial name: REALONDA CERAMICA
Other names: YES
Current Address: AVENIDA DEL MEDITERRANI, 50
Telephone number: 964776500 Fax: 964602199
URL: www.realonda.com
Corporate e-mail: realonda@realonda.com
Trade Risk
Incidents: NO
R.A.I.: NO
Financial Information
Balance sheet latest sales (2011): 15.158.468,92 € (Mercantile Register)
Result: 1.916.975,26 €
Total Assets: 28.261.925,42 €
Share capital: 2.280.000,00 €
Employees: 100
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 22/11/1952
Activity: Mfg. of bricks tiles & construction products in baked
clay
NACE 2009 CODE: 2331
International Operations: Exports
Corporate Structure
President: ALFONSO
ALMER, JOSE
Participations: 3
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2011
Latest act published in BORME: 23/08/2012 Appointments
Latest press article: 11/02/2005 EXPANSION DE
VALENCIA (FINANCIAL DATA)
Bank Entities: There are
Rating Explanation
Financial situation
The company’s financial situation is very good.
The sales evolution and results has been positive.
The auditor’s opinion about the latest accounts has been favourable
with reservations.
Company Structure
The company’s capitalization degree determines that its structure
is normal.
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 |
Equal |
18 |
There has been a change in the formula version. |
|
28/09/2012 |
Equal |
18 |
New financial statements have been uploaded. |
|
21/10/2011 |
Increase |
18 |
New financial statements have been uploaded. |
INCIDENTS
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
26/12/2012 09:12:49
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 |
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|
A) NON CURRENT ASSETS |
5.643.814,45 |
19,97 |
5.762.624,68 |
21,78 |
6.371.028,48 |
25,38 |
|
B) CURRENT ASSETS |
22.618.110,97 |
80,03 |
20.692.131,63 |
78,22 |
18.734.126,07 |
74,62 |
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LIABILITIES |
|
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A) NET WORTH |
23.262.265,56 |
82,31 |
21.573.290,30 |
81,55 |
20.502.996,14 |
81,67 |
|
B) NON CURRENT LIABILITIES |
1.173.817,21 |
4,15 |
1.534.688,95 |
5,80 |
1.637.250,11 |
6,52 |
|
C) CURRENT LIABILITIES |
3.825.842,65 |
13,54 |
3.346.777,06 |
12,65 |
2.964.908,30 |
11,81 |
Profit and loss account analysis
Figures given in €
|
|
31/12/2011 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
15.158.468,92 |
|
13.745.582,50 |
|
11.680.144,17 |
|
|
GROSS MARGIN |
10.157.362,58 |
67,01 |
8.529.709,72 |
62,05 |
6.824.131,97 |
58,43 |
|
EBITDA |
3.043.899,33 |
20,08 |
2.474.686,42 |
18,00 |
1.094.003,37 |
9,37 |
|
EBIT |
2.401.543,72 |
15,84 |
1.238.977,28 |
9,01 |
138.385,92 |
1,18 |
|
NET RESULT |
1.916.975,26 |
12,65 |
1.070.294,16 |
7,79 |
58.230,35 |
0,50 |
|
EFFECTIVE TAX RATE (%) |
28,40 |
0,00 |
28,89 |
0,00 |
11,54 |
0,00 |
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total assets |
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ASSETS |
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|||
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A) NON CURRENT ASSETS |
19,97 |
43,61 |
-23,64 |
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A) CURRENT ASSETS |
80,03 |
56,39 |
23,64 |
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LIABILITIES |
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|||
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A) NET WORTH |
82,31 |
42,86 |
39,45 |
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B) NON CURRENT LIABILITIES |
4,15 |
18,23 |
-14,08 |
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|
|
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C) CURRENT LIABILITIES |
13,54 |
38,91 |
-25,37 |
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income |
|
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SALES |
99,43 |
98,92 |
0,50 |
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|
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GROSS MARGIN |
66,62 |
51,31 |
15,32 |
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EBITDA |
19,97 |
7,90 |
12,06 |
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EBIT |
15,75 |
0,96 |
14,79 |
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NET RESULT |
12,57 |
-1,09 |
13,66 |
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Sector Composition
Compared sector (NACE 2009): 2331
Number of companies: 36
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 |
1.916.975,26 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Goodwill reserve |
0,00 |
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Voluntary reserves |
0,00 |
Special reserves |
0,00 |
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Other reserves disposable at will |
0,00 |
Voluntary reserves |
1.460.975,26 |
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Total of Amounts to be distributed |
1.916.975,26 |
Dividends |
456.000,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
1.916.975,26 |
Auditing
Source: filing of annual
financial statement 2011
Auditors’ opinion: FAVOURABLE WITH
RESERVATIONS
Auditor: AUDICAS S.L.
Auditing exceptions:
La empresa no recoge en la memoria la información relativa a las
participaciones accionariales directas o indirectas y/o cargos que los
administradores y personas vinculadas a estos, pudieran tener en sociedades con
el mismo, análogo o complementario género de actividad al que constituye el
objeto social de la empresa, tal como seńala el artículo 229 de la Ley de
Sociedades de Capital 1/2010 de 2 de julio.
Auditing fees: 10.910,00 €
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:
AVENIDA DEL MEDITERRANI, 50
12200 ONDA CASTELLÓN
Previous Seat Address:
CARRETERA VIVER-PUERTO BURRIANA S/N
12200 ONDA CASTELLÓN
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CARRETERA VIVER-PUERTO BURRIANA, S/N |
12200 |
ONDA |
Castellón |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
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Distribution of the administration board |
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Governing body : 9 members (latest change:
27/07/2012) Other Positions : 2 (latest change: 20/03/2009) Auditor : 2 (latest change: 10/08/2012) Operative Board Members : 5 (latest change: 14/01/2010) Non-current positions : 32 (latest change: 10/08/2012) |
|
|
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
ALFONSO ALMER, JOSE |
27/07/2012 |
|
MEMBER OF THE BOARD |
MELCHOR CHEZA, JOSE MARIA |
27/07/2012 |
|
MEMBER OF THE BOARD |
RAMOS MEZQUITA, JUAN ANTONIO |
27/07/2012 |
|
MEMBER OF THE BOARD |
ZARZOSO BONET, ISIDRO |
27/07/2012 |
|
MEMBER OF THE BOARD |
ZARZOSO BONET, VICENTE |
27/07/2012 |
|
MEMBER OF THE BOARD |
FELIU AGUILELLA, FRANCISCO |
27/07/2012 |
|
MEMBER OF THE BOARD |
CARDA USO, JUAN LUIS |
27/07/2012 |
|
|
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Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
EURO ACCOUNTINGS SLP |
14/08/2009 |
|
AUDITOR |
AUDICAS SLP |
10/08/2012 |
Board members remuneration
Source: Annual financial report 2011
Board members remuneration: 124.869,63 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
CABALLERO JOSE, LUIS |
|
Financial Manager |
OBRERO, SALVADOR |
|
Human Resources Director |
OBRERO, SALVADOR |
|
Commercial Director |
PERIS, ROBERTO |
|
Exports Director |
BALANZA, MARIA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
AGUILELLA AGUILELLA JOSE |
|
50,00 |
OWN SOURCES |
03/01/2013 |
|
|
ZARZOSO BONET ISIDRO |
|
50,00 |
OWN SOURCES |
03/01/2013 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
VERNIS, SA |
A12013090 |
5,50 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
GESTASEG SOCIEDAD LIMITADA |
B12322707 |
Indef. |
MERCANTILE REGISTER |
31/12/2011 |
|
|
ALCOVICA SA |
A12218905 |
Indef. |
MERCANTILE REGISTER |
31/12/2011 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
REALGRES S.A. (EXTINGUIDA) |
A12384244 |
100,00 |
B.O.R.M.E. |
07/02/2012 |
|
|
THE BELFAST TILE COMPANY LIMITAD |
IRELAND |
50,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
BICOCA S. COOP. DE NULES |
F12349676 |
Indef. |
OWN SOURCES |
16/05/2011 |
Company
with rating inferior to 7
BUSINESS INFORMATION
Incorporation date: 22/11/1952
Establishment date: 01/01/1952
Founder’s Name: Realonda, S.L., cambiando su forma juridica S.A. en
1974
Code: 1241200
Activity: Mfg. of bricks tiles & construction products in
baked clay
NACE 2009 CODE: 2331
NACE 2009 Activity: Manufacture of ceramic tiles and flags
Business: Manufacture and marketing of tiles and wall tiles
Environmental information: YES (Page 43) Annual
financial report 2011
Latest employees figure: 100 (2012)
% of fixed employees: 78,08%
% of temporary employees: 21,92%
% of men: 85,92%
% of women: 14,08%
Employees evolution
|
|
|
|
Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
61 |
10 |
COMMERCIAL OPERATIONS
SALES
Export Percentage: 75%
Exports to: UE Y OTROS PAÍSES
National Distribution: 25%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
VERNIS S.A. |
NO |
|
THE BELFAST TILE CO |
YES |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
THE BELFAST TILE CO |
YES |
El 99,90% de su cifra de negocio corresponde a ventas.
El 0,10% de su cifra de negocio corresponde a prestación de servicios.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO POPULAR ESPAŃOL, S.A. |
0952 |
MONSEŃOR FERNANDO FERRIS, 1 |
ONDA |
Castellón |
|
BANCO DE SABADELL, S.A. |
0278 |
C VIRGEN DEL CARMEN 000012 |
ONDA |
Castellón |
|
BANCO SANTANDER, S.A. |
6049 |
CL VIRGEN DEL CARMEN 7 APDO. 00000 |
ONDA |
Castellón |
Discount facilities: 1
Credit policy: 0
Mortgage loan: 0
Loans with no real security: 3
|
|
|
|
Debt type: Discount
facilities |
Granted limit:1.900.000,00 € Used limit:0,00 € Available limit:1.900.000,00
€ Source: Filed
Accounts (2011) |
|
|
|
|
Entity:BANKINTER, S.A. Debt type:Loans with no
real security Expiry date:04/02/2015 Date of the granting: 04/02/2011 |
Granted amount:1.500.000,00 € Long term outstanding
amount:804.597,78 € Short term outstanding
amount:367.787,06 € Total outstanding amount:1.172.384,84
€ Source: Filed
Accounts (2011) |
|
|
|
|
Entity:LA CAIXA Debt type:Loans with no
real security Expiry date:31/12/2013 Date of the granting: 31/12/2010 |
Granted amount:455.000,00 € Long term outstanding
amount:156.641,05 € Short term outstanding
amount:151.270,15 € Total outstanding amount:307.911,20
€ Source: Filed
Accounts (2011) |
|
|
|
|
Entity:BANCO SANTANDER, S.A. Debt type:Loans with no
real security Expiry date:28/06/2013 Date of the granting: 28/06/2010 |
Granted amount:2.347,00 € Long term outstanding
amount:391,30 € Short term outstanding
amount:782,28 € Total outstanding amount:1.173,58
€ Source: Filed
Accounts (2011) |
|
|
|
Brand name: REALONDA CERAMICA (Valid)
Type: JOINT Scope: NATIONAL Date: 17/01/2012
LEGAL STRUCTURE
Constitution Data
Register Date: 22/11/1952
Legal form: Joint-stock Company
Share capital: 2.280.000,00 €
Paid-up capital: 2.280.000,00 €
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: 39 (Last: 23/08/2012, first:
06/03/1991)
Acts on capital: 3 (Last: 24/01/2002, first:
06/03/1991)
Acts on creation: 0
Acts on filed accounts: 21 (Last: 21/10/2011, first:
18/10/1991)
Acts on identification: 0
Acts on Information: 9 (Last: 12/04/2012, first:
06/03/1991)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Appointments |
23/08/2012 |
352262 |
Castellón |
|
Officially cancelling of an appointment |
23/08/2012 |
352262 |
Castellón |
|
Appointments |
09/08/2012 |
335293 |
Castellón |
|
Resignations |
09/08/2012 |
335293 |
Castellón |
|
Appointments |
11/05/2012 |
202570 |
Castellón |
|
Resignations |
11/05/2012 |
202570 |
Castellón |
|
Meeting notification |
12/04/2012 |
7370 |
|
|
Annual Filed Accounts (2010) |
21/10/2011 |
842273 |
Castellón |
|
Meeting notification |
16/05/2011 |
16259 |
|
|
Annual Filed Accounts (2009) |
25/01/2011 |
47584 |
Castellón |
PRESS ARTICLES
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 1 (Last: 11/02/2005)
Latest press article published
11/02/2005 EXPANSION DE VALENCIA - FINANCIAL
DATA
REALONDA TILES MANUFACTURER THAT GETS
OUTSIDE THE 60%
of its turnover, closed the year 2004 with a turnover of 18.03 MM. EUROS,
AS WELL AS THE PREVIOUS
YEAR. THE CIA.,
Which has been proposed LAND WITH
NEW PRODUCTS WIN THIS
YEAR, mainly exported to U.S., UK and some countries in Eastern Europe such as Croatia and Romania.
REALONDA has facilities of 26,000 square meters, employs 100 WORKERS AND PRODUCE
16,000 square meters per day.
Complementary Information
Financial Information
The stock closed at 31/12/2009 (Tank
2009) is available at INFORMS, but there is
data in the new financial
statements presented incorrectly.
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Mercantile Register file of the legal address of
the Company and dated 28/09/2012.
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 |
5.643.814,45 |
19,97 |
5.762.624,68 |
21,78 |
6.371.028,48 |
25,38 |
|
I. Intangible assets |
|
|
|
|
144,13 |
0,00 |
|
5. Software |
|
|
|
|
144,13 |
0,00 |
|
II. Tangible fixed assets |
5.537.699,55 |
19,59 |
5.519.479,02 |
20,86 |
6.121.608,37 |
24,38 |
|
1. Property, plant and equipment |
2.290.649,95 |
8,11 |
2.391.750,51 |
9,04 |
2.501.776,52 |
9,97 |
|
2. Technical fittings and other tangible assets |
3.247.049,60 |
11,49 |
3.127.728,51 |
11,82 |
3.619.831,85 |
14,42 |
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
|
|
137.030,76 |
0,52 |
143.161,08 |
0,57 |
|
1. Net worth instruments |
|
|
137.030,76 |
0,52 |
143.161,08 |
0,57 |
|
V. Long Term Financial Investments |
106.114,90 |
0,38 |
106.114,90 |
0,40 |
106.114,90 |
0,42 |
|
1. Net worth instruments |
105.964,90 |
0,37 |
105.964,90 |
0,40 |
105.964,90 |
0,42 |
|
5. Other financial assets |
150,00 |
0,00 |
150,00 |
0,00 |
150,00 |
0,00 |
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
22.618.110,97 |
80,03 |
20.692.131,63 |
78,22 |
18.734.126,07 |
74,62 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
8.968.082,58 |
31,73 |
8.528.598,82 |
32,24 |
9.126.081,76 |
36,35 |
|
2. Raw material inventory |
363.434,40 |
1,29 |
360.492,76 |
1,36 |
329.390,40 |
1,31 |
|
4. Finished goods |
8.604.648,18 |
30,45 |
8.168.106,06 |
30,88 |
8.796.691,36 |
35,04 |
|
b) Short production cycle |
8.604.648,18 |
30,45 |
8.168.106,06 |
30,88 |
8.796.691,36 |
35,04 |
|
III. Trade Debtors and other receivable accounts |
4.307.844,23 |
15,24 |
3.891.042,44 |
14,71 |
3.857.662,05 |
15,37 |
|
1. Clients |
4.012.696,28 |
14,20 |
3.787.689,99 |
14,32 |
3.792.135,71 |
15,11 |
|
b) Clients for sales and short term services rendering |
4.012.696,28 |
14,20 |
3.787.689,99 |
14,32 |
3.792.135,71 |
15,11 |
|
3. Other debts |
3.565,59 |
0,01 |
4.034,06 |
0,02 |
3.324,74 |
0,01 |
|
4. Staff |
|
|
|
|
799,12 |
0,00 |
|
6. Other credits with the Public Administrations |
291.582,36 |
1,03 |
99.318,39 |
0,38 |
61.402,48 |
0,24 |
|
IV. Short term investments in associated and affiliated companies |
61,13 |
0,00 |
|
|
|
|
|
5. Other financial assets |
61,13 |
0,00 |
|
|
|
|
|
V. Short term financial investments |
8.304.800,99 |
29,39 |
6.928.954,73 |
26,19 |
5.353.602,67 |
21,32 |
|
3. Debt representative values |
2.600.086,56 |
9,20 |
6.928.954,73 |
26,19 |
5.353.602,67 |
21,32 |
|
5. Other financial assets |
5.704.714,43 |
20,19 |
|
|
|
|
|
VI. Short term periodifications |
29.052,48 |
0,10 |
24.168,21 |
0,09 |
20.890,02 |
0,08 |
|
VII. Cash and equivalents |
1.008.269,56 |
3,57 |
1.319.367,43 |
4,99 |
375.889,57 |
1,50 |
|
1. Treasury |
1.008.269,56 |
3,57 |
1.319.367,43 |
4,99 |
375.889,57 |
1,50 |
|
TOTAL ASSETS (A + B) |
28.261.925,42 |
100,00 |
26.454.756,31 |
100,00 |
25.105.154,55 |
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 |
23.262.265,56 |
82,31 |
21.573.290,30 |
81,55 |
20.502.996,14 |
81,67 |
|
A-1) Equity |
23.262.265,56 |
82,31 |
21.573.290,30 |
81,55 |
20.502.996,14 |
81,67 |
|
I. Capital |
2.280.000,00 |
8,07 |
2.280.000,00 |
8,62 |
2.280.000,00 |
9,08 |
|
1. Authorized capital |
2.280.000,00 |
8,07 |
2.280.000,00 |
8,62 |
2.280.000,00 |
9,08 |
|
II. Issue premium |
28.427,87 |
0,10 |
28.427,87 |
0,11 |
28.427,87 |
0,11 |
|
III. Reserves |
19.036.862,43 |
67,36 |
18.194.568,27 |
68,78 |
18.136.337,92 |
72,24 |
|
1. Legal and statutory |
456.000,00 |
1,61 |
456.000,00 |
1,72 |
456.000,00 |
1,82 |
|
2. Other funds |
18.580.862,43 |
65,75 |
17.738.568,27 |
67,05 |
17.680.337,92 |
70,43 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
1.916.975,26 |
6,78 |
1.070.294,16 |
4,05 |
58.230,35 |
0,23 |
|
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 |
1.173.817,21 |
4,15 |
1.534.688,95 |
5,80 |
1.637.250,11 |
6,52 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
961.630,13 |
3,40 |
1.475.770,96 |
5,58 |
1.566.666,71 |
6,24 |
|
2. Debts with bank entities |
961.630,13 |
3,40 |
1.475.770,96 |
5,58 |
1.566.666,71 |
6,24 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
212.187,08 |
0,75 |
58.917,99 |
0,22 |
70.583,40 |
0,28 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
3.825.842,65 |
13,54 |
3.346.777,06 |
12,65 |
2.964.908,30 |
11,81 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
980.039,49 |
3,47 |
677.391,79 |
2,56 |
792.714,02 |
3,16 |
|
2. Debts with bank entities |
519.839,49 |
1,84 |
664.484,60 |
2,51 |
531.794,02 |
2,12 |
|
5. Other financial liabilities |
460.200,00 |
1,63 |
12.907,19 |
0,05 |
260.920,00 |
1,04 |
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
2.845.803,16 |
10,07 |
2.669.385,27 |
10,09 |
2.172.194,28 |
8,65 |
|
1. Suppliers |
731.365,17 |
2,59 |
880.389,95 |
3,33 |
1.091.221,17 |
4,35 |
|
b) Short term suppliers |
731.365,17 |
2,59 |
880.389,95 |
3,33 |
1.091.221,17 |
4,35 |
|
3. Different creditors |
1.233.125,41 |
4,36 |
1.078.121,89 |
4,08 |
831.866,00 |
3,31 |
|
4. Staff (pending remunerations) |
279.176,34 |
0,99 |
260.436,64 |
0,98 |
160.700,00 |
0,64 |
|
5. Liabilities by current taxes |
484.375,81 |
1,71 |
342.735,98 |
1,30 |
105,56 |
0,00 |
|
6. Other debts with Public Administrations |
117.760,43 |
0,42 |
107.700,81 |
0,41 |
88.301,55 |
0,35 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
28.261.925,42 |
100,00 |
26.454.756,31 |
100,00 |
25.105.154,55 |
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 |
15.158.468,92 |
99,43 |
13.745.582,50 |
99,58 |
11.680.144,17 |
98,41 |
|
A) Sales |
|
|
13.733.858,43 |
99,50 |
11.673.026,34 |
98,35 |
|
b) Services provided |
|
|
11.724,07 |
0,08 |
7.117,83 |
0,06 |
|
2. Variation in stocks of finished goods and work in progress |
436.542,12 |
2,86 |
-628.585,30 |
-4,55 |
-1.178.907,52 |
-9,93 |
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-5.524.920,37 |
-36,24 |
-4.645.032,82 |
-33,65 |
-3.866.266,69 |
-32,57 |
|
a) Material consumed |
|
|
-205.790,04 |
-1,49 |
-343.459,94 |
-2,89 |
|
b) Raw materials consumed |
|
|
-4.197.772,70 |
-30,41 |
-3.311.835,31 |
-27,90 |
|
c) Works carried out for other companies |
|
|
-241.470,08 |
-1,75 |
-210.971,44 |
-1,78 |
|
5. Other operating income |
87.271,91 |
0,57 |
57.745,34 |
0,42 |
189.162,01 |
1,59 |
|
a) Other incomes |
|
|
4.034,06 |
0,03 |
117.074,40 |
0,99 |
|
b) Operating grants included in the exercise result |
|
|
53.711,28 |
0,39 |
72.087,61 |
0,61 |
|
6. Labour cost |
-2.982.102,82 |
-19,56 |
-2.629.849,97 |
-19,05 |
-2.732.523,10 |
-23,02 |
|
a) Wages and similar expenses |
|
|
-2.019.465,41 |
-14,63 |
-2.103.572,65 |
-17,72 |
|
b) Social costs |
|
|
-610.384,56 |
-4,42 |
-628.950,45 |
-5,30 |
|
7. Other operating costs |
-4.132.580,96 |
-27,11 |
-3.912.128,51 |
-28,34 |
-3.101.698,88 |
-26,13 |
|
a) External services |
|
|
-3.324.185,89 |
-24,08 |
-2.935.445,36 |
-24,73 |
|
b) Taxes |
|
|
-85.670,60 |
-0,62 |
-85.890,22 |
-0,72 |
|
c) Losses, deterioration and variation on business operations
provisions |
|
|
-486.223,18 |
-3,52 |
-67.286,24 |
-0,57 |
|
d) Other day to day expenses |
|
|
-16.048,84 |
-0,12 |
-13.077,06 |
-0,11 |
|
8. Amortization of fixed assets |
-816.172,77 |
-5,35 |
-749.485,96 |
-5,43 |
-888.331,21 |
-7,48 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
173.817,16 |
1,14 |
|
|
10.068,82 |
0,08 |
|
b) Results for disposals and others |
|
|
|
|
10.068,82 |
0,08 |
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
1.220,53 |
0,01 |
732,00 |
0,01 |
26.738,32 |
0,23 |
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
2.401.543,72 |
15,75 |
1.238.977,28 |
8,98 |
138.385,92 |
1,17 |
|
14. Financial income |
325.939,39 |
2,14 |
213.255,57 |
1,54 |
127.483,44 |
1,07 |
|
a) From net worth instruments participations |
|
|
48.000,00 |
0,35 |
8.000,00 |
0,07 |
|
a 1) On group and associated companies |
|
|
48.000,00 |
0,35 |
8.000,00 |
0,07 |
|
b) From negotiable values and other financial instruments |
|
|
165.255,57 |
1,20 |
119.483,44 |
1,01 |
|
b 2) From third parties |
|
|
165.255,57 |
1,20 |
119.483,44 |
1,01 |
|
15. Financial expenses |
-101.669,97 |
-0,67 |
-101.100,07 |
-0,73 |
-156.943,77 |
-1,32 |
|
b) For debts with third parties |
|
|
-101.100,07 |
-0,73 |
-156.943,77 |
-1,32 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
34.262,62 |
0,22 |
154.055,78 |
1,12 |
-43.095,14 |
-0,36 |
|
18. Deterioration and result for disposal of financial instruments |
17.111,20 |
0,11 |
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
275.643,24 |
1,81 |
266.211,28 |
1,93 |
-72.555,47 |
-0,61 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
2.677.186,96 |
17,56 |
1.505.188,56 |
10,90 |
65.830,45 |
0,55 |
|
20. Taxes on profits |
-760.211,70 |
-4,99 |
-434.894,40 |
-3,15 |
-7.600,10 |
-0,06 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
|
|
1.070.294,16 |
7,75 |
58.230,35 |
0,49 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
1.916.975,26 |
12,57 |
1.070.294,16 |
7,75 |
58.230,35 |
0,49 |
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 |
1.916.975,26 |
1.070.294,16 |
58.230,35 |
|
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) |
1.916.975,26 |
1.070.294,16 |
58.230,35 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
ISSUE PREMIUM |
RESERVES |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
2.280.000,00 |
28.427,87 |
18.078.382,81 |
57.955,30 |
|
I. Adjustments by change of criteria in the exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2009) |
2.280.000,00 |
28.427,87 |
18.078.382,81 |
57.955,30 |
|
I. Total recognized income and expenses |
|
|
|
58.230,35 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
57.955,11 |
-57.955,11 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
2.280.000,00 |
28.427,87 |
18.136.337,92 |
58.230,35 |
|
I. Adjustments by change of criteria in the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2009) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2010) |
2.280.000,00 |
28.427,87 |
18.136.337,92 |
58.230,35 |
|
I. Total recognized income and expenses |
|
|
|
1.070.294,16 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
58.230,35 |
-58.230,35 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
2.280.000,00 |
28.427,87 |
18.194.568,27 |
1.070.294,16 |
|
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) |
2.280.000,00 |
28.427,87 |
18.194.568,27 |
1.070.294,16 |
|
I. Total recognized income and expenses |
|
|
|
1.916.975,26 |
|
II. Operations with partners or owners |
|
|
|
-228.000,00 |
|
4. (-) Dividends distribution |
|
|
|
-228.000,00 |
|
III. Other net worth variations |
|
|
842.294,16 |
-842.294,16 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
2.280.000,00 |
28.427,87 |
19.036.862,43 |
1.916.975,26 |
|
NET WORTH CHANGES ( 3 /3) |
TOTAL |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
20.444.765,98 |
|
||
|
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) |
20.444.765,98 |
|
||
|
I. Total recognized income and expenses |
58.230,35 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
20.502.996,14 |
|
||
|
I. Adjustments by change of criteria in the exercise (2009) |
|
|
||
|
II. Adjustments by errors in the exercise (2009) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2010) |
20.502.996,14 |
|
||
|
I. Total recognized income and expenses |
1.070.294,16 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
21.573.290,30 |
|
||
|
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) |
21.573.290,30 |
|
||
|
I. Total recognized income and expenses |
1.916.975,26 |
|
||
|
II. Operations with partners or owners |
-228.000,00 |
|
||
|
4. (-) Dividends distribution |
-228.000,00 |
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
23.262.265,56 |
|
||
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 |
2.677.186,96 |
1.505.188,56 |
65.830,00 |
|
2. Results adjustments |
634.252,97 |
|
822.125,00 |
|
a) Amortization of fixed assets (+) |
816.172,77 |
|
888.331,00 |
|
b) Value correction for deterioration (+/-) |
267.540,60 |
|
-128.693,00 |
|
e) Results for decline and disposal of fixed assets (+/-) |
-173.817,16 |
|
-10.069,00 |
|
f) Results for decline and disposal of financial instruments (+/-) |
-17.111,20 |
|
|
|
g) Financial income (-) |
-325.939,39 |
|
-127.483,00 |
|
f) Financial expenses (+) |
101.669,97 |
|
156.944,00 |
|
i) Change difference (+/-) |
-34.262,62 |
|
43.095,00 |
|
3. Changes in current capital |
-942.186,31 |
715.384,93 |
1.086.715,00 |
|
a) Stocks (+/-) |
-621.189,00 |
597.482,94 |
1.445.126,00 |
|
b) Debtors and other receivable accounts (+/-) |
-183.194,58 |
-33.380,39 |
1.073.504,00 |
|
c) Other current assets (+/-) |
-4.884,27 |
-3.278,19 |
78.997,00 |
|
d) Creditors and other payable accounts (+/-) |
-16.285,47 |
154.560,57 |
-1.642.706,00 |
|
e) Other current liabilities (+/-) |
-116.632,99 |
|
131.794,00 |
|
4. Other cash flow coming from operating activities |
-189.004,78 |
|
-3.867,00 |
|
a) Interests payments (-) |
-101.669,97 |
|
-156.944,00 |
|
b) Dividends collections (+) |
40.000,00 |
|
8.000,00 |
|
c) Interests collections (+) |
285.939,39 |
|
119.483,00 |
|
d) Collections (payments) for profit tax (+/-) |
-414.239,25 |
|
25.594,00 |
|
e) Other payments (collections) (-/+) |
965,05 |
|
|
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
2.180.248,84 |
2.220.573,49 |
1.970.803,00 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
|
6. Investment payments (-) |
-12.499.424,38 |
-1.575.352,06 |
-30.444.886,00 |
|
c) Tangible assets |
-562.389,40 |
|
-382.364,00 |
|
e) Other financial assets |
-11.937.034,98 |
-1.575.352,06 |
-30.062.522,00 |
|
7. Disinvestment collections (+) |
10.777.229,01 |
608.403,80 |
29.049.922,00 |
|
a) Group and associated companies |
154.141,96 |
6.130,32 |
|
|
b) Intangible assets |
|
144,13 |
|
|
c) Tangible assets |
29.602,37 |
602.129,35 |
11.638,00 |
|
e) Other financial assets |
10.593.484,68 |
|
29.038.284,00 |
|
8. Cash Flow in investment activities (6 + 7) |
-1.722.195,37 |
-966.948,26 |
-1.394.964,00 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
|
9. Net worth instruments collections and payments |
|
58.230,35 |
|
|
a) Net worth instruments issue (+) |
|
58.230,35 |
|
|
10. Financial liabilities instruments collections and payments |
-542.152,95 |
41.794,83 |
-461.904,00 |
|
a) Issue |
1.500.000,00 |
2.140.255,56 |
2.000.000,00 |
|
2. Debts with bank entities (+) |
1.500.000,00 |
2.140.255,56 |
2.000.000,00 |
|
b) Return and amortization of |
-2.042.152,95 |
-2.098.460,73 |
-2.461.904,00 |
|
2. Debts with bank entities (-) |
-2.042.152,95 |
-2.098.460,73 |
-2.461.904,00 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
-228.000,00 |
|
|
|
a) Dividends (-) |
-228.000,00 |
|
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-770.152,95 |
100.025,18 |
-461.904,00 |
|
D) Exchange rate variations effect |
1.001,61 |
|
4.225,00 |
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
-311.097,87 |
1.353.650,41 |
118.160,00 |
|
Cash or equivalents at the beginning of the exercise |
1.319.367,43 |
375.889,57 |
257.730,00 |
|
Cash or equivalents at the end of the exercise |
1.008.269,56 |
1.319.367,43 |
375.890,00 |
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
18.792.268,32 |
8,34 |
17.345.354,57 |
10,00 |
15.769.217,77 |
|
Working capital ratio |
0,66 |
1,52 |
0,66 |
4,76 |
0,63 |
|
Soundness Ratio |
4,12 |
10,16 |
3,74 |
16,15 |
3,22 |
|
Average Collection Period (days) |
102 |
0,35 |
102 |
-14,24 |
119 |
|
Average Payment Period (days) |
106 |
-5,45 |
112 |
0,00 |
112 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
591,19 |
-4,38 |
618,27 |
-2,15 |
631,86 |
|
Quick Ratio (%) |
243,42 |
-1,23 |
246,46 |
27,54 |
193,24 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
6,87 |
-15,60 |
8,14 |
-13,40 |
9,40 |
|
External Financing Average Cost |
0,05 |
0,00 |
0,05 |
-28,57 |
0,07 |
|
Debt Service Coverage |
0,89 |
-8,25 |
0,97 |
-19,17 |
1,20 |
|
Interest Coverage |
23,62 |
92,66 |
12,26 |
1.293,18 |
0,88 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
14,38 |
-11,01 |
16,16 |
-4,21 |
16,87 |
|
Auto financing generated by Assets (%) |
7,71 |
-8,10 |
8,39 |
6,88 |
7,85 |
|
Breakdown Point |
1,19 |
8,18 |
1,10 |
8,91 |
1,01 |
|
Average Sales Volume per Employee |
207.054,62 |
6,72 |
194.009,63 |
25,92 |
154.071,29 |
|
Average Cost per Employee |
40.733,54 |
9,74 |
37.118,56 |
2,98 |
36.044,36 |
|
Assets Turnover |
0,54 |
3,85 |
0,52 |
10,64 |
0,46 |
|
Inventory Turnover (days) |
584 |
-11,60 |
661 |
-22,20 |
850 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
8,50 |
81,62 |
4,68 |
750,91 |
0,55 |
|
Operating Profitability (%) |
12,00 |
59,57 |
7,52 |
82,08 |
4,13 |
|
Return on Equity (ROE) (%) |
11,51 |
64,90 |
6,98 |
2.081,25 |
0,32 |
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 |
19,97 |
43,61 |
-23,64 |
|
A) CURRENT ASSETS |
80,03 |
56,39 |
23,64 |
|
LIABILITIES |
|||
|
A) NET WORTH |
82,31 |
42,86 |
39,45 |
|
B) NON CURRENT LIABILITIES |
4,15 |
18,23 |
-14,08 |
|
C) CURRENT LIABILITIES |
13,54 |
38,91 |
-25,37 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,43 |
98,92 |
0,51 |
|
Other operating income |
0,57 |
1,08 |
-0,51 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-36,24 |
-45,50 |
9,26 |
|
Variation in stocks of finished goods and work in progress |
2,86 |
-3,19 |
6,05 |
|
GROSS MARGIN |
66,62 |
51,31 |
15,31 |
|
Other operating costs |
-27,11 |
-26,38 |
-0,73 |
|
Labour cost |
-19,56 |
-19,68 |
0,12 |
|
GROSS OPERATING RESULT |
19,96 |
5,24 |
14,72 |
|
Amortization of fixed assets |
-5,35 |
-5,34 |
-0,01 |
|
Deterioration and result for fixed assets disposal |
1,14 |
0,84 |
0,30 |
|
Other expenses / income |
|
0,21 |
|
|
NET OPERATING RESULT |
15,75 |
0,96 |
14,79 |
|
Financial result |
1,81 |
-2,60 |
4,40 |
|
RESULT BEFORE TAX |
17,56 |
-1,63 |
19,19 |
|
Taxes on profits |
-4,99 |
0,71 |
-5,70 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
12,57 |
-0,92 |
13,49 |
|
Exercise result coming from discontinued operations net of taxes |
|
-0,17 |
|
|
NET RESULT |
12,57 |
-1,09 |
13,66 |
|
Amortization of fixed assets |
-5,35 |
-5,34 |
-0,01 |
|
Deterioration and provisions variation |
-4,21 |
-1,61 |
-2,60 |
|
|
22,14 |
5,85 |
16,29 |
Main Ratios
Figures given in €
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
18.792.268,32 |
451.693,46 |
3.401.993,45 |
6.417.091,02 |
|
Working capital ratio |
0,66 |
0,03 |
0,15 |
0,29 |
|
Soundness Ratio |
4,12 |
0,61 |
0,98 |
1,37 |
|
Average Collection Period (days) |
102 |
85 |
120 |
150 |
|
Average Payment Period (days) |
106 |
119 |
148 |
176 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
591,19 |
104,82 |
139,76 |
211,98 |
|
Quick Ratio (%) |
243,42 |
2,18 |
6,67 |
21,19 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
6,87 |
23,65 |
37,01 |
49,15 |
|
External Financing Average Cost |
0,05 |
0,05 |
0,06 |
0,08 |
|
Debt Service Coverage |
0,89 |
2,89 |
5,47 |
11,89 |
|
Interest Coverage |
23,62 |
-1,34 |
1,27 |
2,32 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
14,38 |
1,95 |
5,24 |
7,52 |
|
Auto financing generated by Assets (%) |
7,71 |
1,80 |
3,86 |
6,23 |
|
Breakdown Point |
1,19 |
0,98 |
1,04 |
1,08 |
|
Average Sales Volume per Employee |
207.054,62 |
141.191,16 |
192.584,77 |
231.658,03 |
|
Average Cost per Employee |
40.733,54 |
32.916,57 |
36.101,25 |
43.712,16 |
|
Assets Turnover |
0,54 |
0,65 |
0,77 |
0,95 |
|
Inventory Turnover (days) |
584 |
174 |
263 |
479 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
8,50 |
-2,28 |
3,24 |
4,65 |
|
Operating Profitability (%) |
12,00 |
3,10 |
5,27 |
8,64 |
|
Return on Equity (ROE) (%) |
11,51 |
-3,80 |
1,93 |
8,14 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
UK Pound |
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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.