MIRA
INFORM REPORT
|
Report Date : |
08.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
MIARCO SL |
|
|
|
|
Registered Office : |
Calle Charles Robert Darwin (Pq. Tecnologico), 18 46980 Paterna Valencia |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.07.1983 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Adhesive solutions, packaging and specialty tapes for
all industries. |
|
|
|
|
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 |
|
Maximum Credit Limit : |
510.000,00 € |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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
MIARCO SL
CIF/NIF: B98261258
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: MIARCO SL
Other names: NO
Current Address: CALLE CHARLES ROBERT DARWIN (PQ.
TECNOLOGICO), 18
Branches: 1
Telephone number: 963177700 Fax: 963177744
URL: www.miarco.com
Corporate e-mail: miarco@miarco.com
Trade Risk
Credit appraisal: 510.000,00 €
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2011): 30.035.795,83 € (Mercantile Register)
Result: 643.609,15 €
Total Assets: 17.243.050,24 €
Share capital: 393.414,00 €
Employees: 140
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 04/06/2010
Activity: Wholesale of other products
NACE 2009 CODE: 4690
International Operations: Imports and
Exports
Corporate Structure
President:
Participations: 1
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2011
Latest act published in BORME: 05/03/2012 Takeover merger
Latest press article: No press articles registered
Bank Entities: There are
TRADE RISK
Credit appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 510.000,00 €
Financial situation
|
Exercise:2011 |
Evolution |
||
|
Immediate
liquidity |
Limited |
|
|
|
Indebtedness |
Slight |
|
|
|
Profitability |
Sufficient |
|
|
|
Soundness |
Excellent |
|
|
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Excellent |
Rating Explanation
Financial situation
•
The company’s financial situation is normal.
•
The company’s financial situation evolution has
been stable.
•
The auditor’s opinion about the latest accounts has
been favourable.
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 |
Reduction |
13 |
•
There has been a change in the formula version. |
|
03/10/2012 |
Equal |
16 |
•
There has been a variation in the affected
parties of the company’s non-payments information. |
|
04/09/2012 |
Increase |
16 |
•
New financial statements have been uploaded. |
|
03/08/2012 |
Equal |
15 |
•
There has been a variation in the affected
parties of the company’s non-payments information. |
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
02/01/2013 10:01:52
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 (7) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
A) NON CURRENT ASSETS |
3.147.603,78 |
18,25 |
3.828.577,77 |
18,90 |
|
B) CURRENT ASSETS |
14.095.446,46 |
81,75 |
16.425.951,20 |
81,10 |
|
LIABILITIES |
|
|
|
|
|
A) NET WORTH |
10.270.361,52 |
59,56 |
10.219.807,10 |
50,46 |
|
B) NON CURRENT LIABILITIES |
1.206.540,88 |
7,00 |
2.252.497,04 |
11,12 |
|
C) CURRENT LIABILITIES |
5.766.147,84 |
33,44 |
7.782.224,83 |
38,42 |
Profit and loss account analysis
Figures given in €
|
|
31/12/2011 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2010 (7) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
30.035.795,83 |
|
30.593.999,45 |
|
|
GROSS MARGIN |
10.166.665,21 |
33,85 |
10.270.242,08 |
33,57 |
|
EBITDA |
2.113.263,64 |
7,04 |
1.645.288,76 |
5,38 |
|
EBIT |
1.320.084,85 |
4,40 |
948.469,29 |
3,10 |
|
NET RESULT |
643.609,15 |
2,14 |
25.501,00 |
0,08 |
|
EFFECTIVE TAX RATE (%) |
34,18 |
0,00 |
43,89 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
18,25 |
28,63 |
-10,38 |
|
A) CURRENT ASSETS |
81,75 |
71,37 |
10,38 |
|
LIABILITIES |
|||
|
A) NET WORTH |
59,56 |
40,98 |
18,58 |
|
B) NON CURRENT LIABILITIES |
7,00 |
9,74 |
-2,75 |
|
C) CURRENT LIABILITIES |
33,44 |
49,27 |
-15,83 |
|
|
|
|
|
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
99,87 |
98,72 |
1,15 |
|
GROSS MARGIN |
33,81 |
28,55 |
5,26 |
|
EBITDA |
7,03 |
5,74 |
1,28 |
|
EBIT |
4,39 |
3,88 |
0,51 |
|
NET RESULT |
2,14 |
2,32 |
-0,17 |
Sector Composition
Compared sector (NACE 2009): 469
Number of companies: 134
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 |
643.609,15 |
Legal Reserve |
76.132,70 |
|
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 |
567.476,45 |
|
Total of Amounts to be distributed |
643.609,15 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
643.609,15 |
Auditing
Source: filing of annual financial statement 2011
Auditors’ opinion: FAVOURABLE
Auditor: ACR AUDITORS GROUP S.L.
Auditing fees: 10.000,00 €
Facts subsequent to the closing
Source: Annual financial report 2011
After the closure no relevant facts requiring their inclusion in the
annual accounts have taken place.
ADDRESSES
Current Legal Seat Address:
CALLE CHARLES ROBERT DARWIN (PQ. TECNOLOGICO), 18
46980 PATERNA
VALENCIA
Characteristics of the current address
Type of establishment: office
Area: 2400 m2
Local Situation: secondary
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE CIUTAT DE CARTAGENA (POLÍGONO FUENTE DEL JARRO 2ª
FASE), 10 |
46980 |
PATERNA |
Valencia |
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE CUENCA, 51 - BAJOS |
46008 |
VALENCIA |
Valencia |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Governing body : 6 members (latest change:
31/12/2010) Other Positions : 2 (latest change: 20/10/2010) Auditor : 1 (latest change: 31/12/2010) Operative Board Members : 7 (latest change: 26/01/2012) |
|
|
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
ARNEDO CORTIJO, MIGUEL |
09/07/2010 |
|
MANAGING DIRECTOR |
ARNEDO GARCIA, GUZMAN MIGUEL |
09/07/2010 |
|
MEMBER OF THE BOARD |
VEGA ALLOZA, ANTONIO |
09/07/2010 |
|
SECRETARY |
MONTAVA SANTANA, ALBERTO |
09/07/2010 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
ACR AUDITORS GROUP, SLP |
31/12/2010 |
Board members remuneration
Source: Annual
financial report 2011
Board
members remuneration: 108.000,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
CAMPS PORTER, XAVIER |
|
Financial Manager |
DONET QUEROL, ANGEL |
|
Human Resources Director |
GARCIA ALCOCER, ESPERANZA |
|
Commercial Director |
CARBO SANZ, SERGIO |
|
Marketing Director |
PEINADOR OLTRA, CARLOS |
|
Quality Director |
GAMON PERIS, AMPARO |
|
Operations Director |
TOMAS BRISA, CARIDAD |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
ARNEDO GARCIA GUZMAN MIGUEL |
|
Indef. |
OWN SOURCES |
04/01/2013 |
|
|
ARNEDO CORTIJO MIGUEL |
|
Indef. |
OWN SOURCES |
04/01/2013 |
|
|
GARCIA GUZMAN MAÑES REMEDIOS |
|
Indef. |
OWN SOURCES |
04/01/2013 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MONTAVA SANTANA ALBERTO |
|
Indef. |
OWN SOURCES |
19/09/2012 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SHANGAI MIARCO ADHESIVE TAPE COMPANY LIMITED |
CHINA |
100,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MIARCO COVERS SL (EXTINGUIDA) |
B97783245 |
100,00 |
B.O.R.M.E. |
05/03/2012 |
|
|
MIARCO SUMA SOCIEDAD LIMITADA. |
B97913586 |
99,93 |
MERCANTILE REGISTER |
31/12/2011 |
Company
with rating inferior to 7
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”MIGUEL ARNEDO CORTIJO”
|
COMPANY |
POSITION |
PROVINCE |
|
MIARCO SL |
Presidente |
VALENCIA |
|
MIARCO SUMA SOCIEDAD LIMITADA. |
Presidente |
VALENCIA |
|
MIARCO SUMA SOCIEDAD LIMITADA. |
Consejero |
VALENCIA |
|
MIARCO SL |
Consejero |
VALENCIA |
|
MIARCO SL |
Socio |
VALENCIA |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”MIARCO SL”
|
COMPANY FOUND |
PROVINCE |
|
MIARCO SL (EXTINGUIDA) |
VALENCIA |
|
MIARCO COVERS SL (EXTINGUIDA) |
VALENCIA |
|
MIARCO SUMA SOCIEDAD LIMITADA. |
VALENCIA |
Search Criterion: "Miarco SL"
URL: www.miarco.es
Miarco S.L. Miarco,
S.L. is a Spanish company with over 39
years experience in the field of specialty tapes, adhesives, and industrial supplies.
URL: www.europages.co.uk
SL Miarco Glues,
adhesives and applicators,
Pastes, adhesive on ... Miarco SL presents
its: Glues, adhesives
and applicators, Pastes,
adhesive, Miarco SL
is a EUROPAGES B2B
directory advertiser.
BUSINESS INFORMATION
Incorporation date: 04/06/2010
Establishment date: 01/07/1983
Founder’s Name: MIARCO SL
Origin: la escision total de MIARCO SL - B46204772
Code: 1619900
I Activity: Wholesale of other products
NACE 2009 CODE: 4690
NACE 2009 Activity: Non-specialised wholesale trade
Business: a) the acquisition, storage, distribution, transportation
and sale, wholesale or retail of any genre, materials, substances, tools,
components or destinables to industrial supply, and their importation or
exportation under any system of internal traffic or permitted by international
law and trade practice. b) The operation of all kinds of patents, licenses,
trademarks and industrial designs, and in short, of any intellectual property
rights or industrial, domestic or foreign, or alien own concession, the supply
of goods destinables industrial, excluding activities that have specialized
requirements by law. c) The development and operation of all kinds of
commercial activities in both their efforts and name as acting as broker and as
a direct or indirect or any other lawful method that relates to commercial
brokering of goods or services for supply industrial. d) production of gender,
products and goods referred to in previous sections of the social order. In
addition to its objects include: e) The possession, acquisition, management,
development, construction and operation of all types of properties, rural and
urban and real rights thereon, excluding real estate and leasing commercial
real estate brokerage . f) The involvement and participation, even mainly by
direct investment or by buying other companies created or to be created, even
by companies, unions, associations or other concerts and self-investment in
property, including securities equities and bonds and other financial assets or
monetary, excluding activities that special legislation and basically the
Securities Exchange Act be solely attributed to others. g) The foreign wealth
management under concessions, rights and representations to be stipulated, as
well as the provision of technical assistance, business management and advisory
companies, or where appropriate through the relevant professionals, with even
conducting market studies, evaluations, proposals and opinions related to the
above activities.
Activity description: Adhesive solutions, packaging and specialty tapes
for all industries.
Latest employees figure: 140 (2013)
% of fixed employees: 100,00%
% of men: 70,80%
% of women: 29,20%
Employees evolution
|
|
|
|
Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
97 |
40 |
PURCHASES
Import Percentage: 76%
Imports from: UE Y OTROS PAÍSES
National Distribution: 24%
SALES
Export Percentage: 1%
Exports to: UE Y OTROS PAÍSES
National Distribution: 99%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
MENS BONA |
NO |
|
SHANGAI |
YES |
•
El 100% de su cifra de negocios corresponde a la
actividad principal.
Professional and advertising services
Source: Annual financial report 2011
Professional services
expenses: 714.859,94 €
Advertising services expenses: 96.339,45 €
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANKINTER, S.A. |
9462 |
PINTOR SOROLLA, 24 |
VALENCIA |
Valencia |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
2339 |
PINTOR SOROLLA, 1 2. PLANTA |
VALENCIA |
Valencia |
|
BANCO SANTANDER, S.A. |
|
|
VALENCIA |
|
|
BANCO DE SABADELL, S.A. |
|
|
VALENCIA |
|
|
BANKIA, S.A. |
|
|
VALENCIA |
|
Discount facilities: 1
Credit policy: 1
Mortgage loan: 0
Loans with no real security: 0
|
|
|
|
Debt type: Credit policy |
Granted limit:150.000,00 € Used limit:0,00 € Available limit:150.000,00
€ Source: Filed
Accounts (2011) |
|
|
|
|
Debt type: Discount
facilities |
Granted limit:4.730.000,00 € Used limit:1.138.713,40
€ Available limit:3.591.286,60
€ Source: Filed
Accounts (2011) |
|
|
|
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
MORE THAN 5 YEARS |
|
|
|
4.863,28 |
8.351,20 |
0,00 |
Grants
|
|
|
|
Body-entity: IMPIVA Grant type: Projects
development or business enlargement or improvement Granting year: 2011 |
Nominal amount: 7.407,48 € Amount received in the
exercise: 7.407,48 € Amount pending collection:
0,00 € Source: Filed
Accounts (2011) |
|
|
|
|
Body-entity: MINISTERIO INDUSTRIA Grant type: Financial
(capital, interests, etc) Granting year: 2011 |
Nominal amount: 9.660,50 € Amount received in the
exercise: 2.125,31 € Amount pending collection:
7.535,19 € Source: Filed
Accounts (2011) |
LEGAL STRUCTURE
Constitution Data
Register Date: 04/06/2010
Register town: Valencia
Announcement number: 272816
Register data:
Volume 9198, Book 6481, Folio 49, Section 8, Sheet 139405,
Inscription I/A 1 (2010-06-30)
Share capital: 393.414 €
Legal form: Limited Liability Company
Share capital: 393.414,00 €
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: 4 (Last: 20/10/2010, first:
09/07/2010)
Acts on capital: 0
Acts on creation: 1 (Last: 09/07/2010)
Acts on filed accounts: 2 (Last: 12/12/2011, first:
21/09/2011)
Acts on identification: 0
Acts on Information: 0
Acts on proceedings: 3 (Last: 05/03/2012, first:
09/07/2010)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Takeover merger |
05/03/2012 |
106886 |
Valencia |
|
|
|
Absorbed companies: MIARCO COVERS SL Register Data:
Volume 9198, Book 6481, Folio 53, Section 8, Sheet 139405, Inscription I/A
5 (23/02/2012) Publication Data:
Register Valencia, Gazette 45, Page
11600, Announcement 106886 (05/03/2012) |
|||
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Annual Filed Accounts (2010) consolidated |
12/12/2011 |
975710 |
Valencia |
|
Annual Filed Accounts (2010) |
21/09/2011 |
577413 |
Valencia |
|
Appointments |
20/10/2010 |
389580 |
Valencia |
|
Appointments |
20/10/2010 |
389579 |
Valencia |
|
Appointments |
09/07/2010 |
272817 |
Valencia |
|
Appointments |
09/07/2010 |
272816 |
Valencia |
|
Constitution |
09/07/2010 |
272816 |
Valencia |
|
Extinction |
09/07/2010 |
272815 |
Valencia |
|
Total split |
09/07/2010 |
272815 |
Valencia |
Press articles
No press articles registered for this company
Complementary Information
Other Complementary Information
Management participated
Shanghai MIARCO /
/: Shanghai Miarco
Adhesive Tape Co.
Ltd.. / / Building
A, No.1235 Mingqiang
Road, Songjiang Industrial
Zone. 201612 (Shanghai,
China P.R.)
Current situation
According BORME 07/09/10 this society has
been the beneficiary of the split total MIARCO limited.
NIF: B46204772
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 03/09/2012.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (7) |
% ASSETS |
|
A) NON CURRENT ASSETS |
3.147.603,78 |
18,25 |
3.828.577,77 |
18,90 |
|
I. Intangible assets |
248.934,91 |
1,44 |
387.051,02 |
1,91 |
|
5. Software |
248.934,91 |
1,44 |
387.051,02 |
1,91 |
|
II. Tangible fixed assets |
2.332.048,63 |
13,52 |
2.735.348,99 |
13,50 |
|
1. Property, plant and equipment |
59.653,41 |
0,35 |
48.804,52 |
0,24 |
|
2. Technical fittings and other tangible assets |
2.272.395,22 |
13,18 |
2.616.421,08 |
12,92 |
|
3. Fixed assets in progress and advances |
|
|
70.123,39 |
0,35 |
|
III. Real-estate investments |
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
473.000,00 |
2,74 |
546.157,66 |
2,70 |
|
1. Net worth instruments |
473.000,00 |
2,74 |
546.157,66 |
2,70 |
|
V. Long Term Financial Investments |
72.020,24 |
0,42 |
77.158,93 |
0,38 |
|
1. Net worth instruments |
12.020,24 |
0,07 |
12.020,24 |
0,06 |
|
3. Debt representative values |
60.000,00 |
0,35 |
60.000,00 |
0,30 |
|
5. Other financial assets |
|
|
5.138,69 |
0,03 |
|
VI. Assets by deferred taxes |
21.600,00 |
0,13 |
82.861,17 |
0,41 |
|
VII. Non current commercial debts |
|
|
|
|
|
B) CURRENT ASSETS |
14.095.446,46 |
81,75 |
16.425.951,20 |
81,10 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
II. Stocks |
5.036.367,04 |
29,21 |
4.978.401,48 |
24,58 |
|
1. Goods available for sale |
2.106.950,25 |
12,22 |
2.346.919,63 |
11,59 |
|
2. Raw material inventory |
1.762.496,81 |
10,22 |
1.887.066,64 |
9,32 |
|
3. Work in Progress |
122.671,95 |
0,71 |
101.337,00 |
0,50 |
|
b) Short production cycle |
122.671,95 |
0,71 |
101.337,00 |
0,50 |
|
4. Finished goods |
819.961,68 |
4,76 |
643.078,21 |
3,17 |
|
b) Short production cycle |
819.961,68 |
4,76 |
643.078,21 |
3,17 |
|
6. Pre-payments to suppliers |
224.286,35 |
1,30 |
|
|
|
III. Trade Debtors and other receivable accounts |
8.191.202,27 |
47,50 |
9.880.421,60 |
48,78 |
|
1. Clients |
8.132.077,58 |
47,16 |
9.785.822,15 |
48,31 |
|
b) Clients for sales and short term services
rendering |
8.132.077,58 |
47,16 |
9.785.822,15 |
48,31 |
|
3. Other debts |
24.605,87 |
0,14 |
8.387,59 |
0,04 |
|
4. Staff |
|
|
2.182,98 |
0,01 |
|
5. Assets by current taxes |
|
|
47.755,16 |
0,24 |
|
6. Other credits with the Public Administrations |
34.518,82 |
0,20 |
36.273,72 |
0,18 |
|
IV. Short term investments in associated and affiliated companies |
142.985,90 |
0,83 |
274.911,15 |
1,36 |
|
5. Other financial assets |
142.985,90 |
0,83 |
274.911,15 |
1,36 |
|
V. Short term financial investments |
79.943,24 |
0,46 |
190.711,69 |
0,94 |
|
3. Debt representative values |
7.896,00 |
0,05 |
5.151,62 |
0,03 |
|
5. Other financial assets |
72.047,24 |
0,42 |
185.560,07 |
0,92 |
|
VI. Short term periodifications |
32,01 |
0,00 |
9.040,56 |
0,04 |
|
VII. Cash and equivalents |
644.916,00 |
3,74 |
1.092.464,72 |
5,39 |
|
1. Treasury |
544.971,96 |
3,16 |
1.092.464,72 |
5,39 |
|
2. Other cash equivalents |
99.944,04 |
0,58 |
|
|
|
TOTAL ASSETS (A + B) |
17.243.050,24 |
100,00 |
20.254.528,97 |
100,00 |
Net Worth and Liabilities
Figures given in €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (7) |
% ASSETS |
|
A) NET WORTH |
10.270.361,52 |
59,56 |
10.219.807,10 |
50,46 |
|
A-1) Equity |
10.265.086,89 |
59,53 |
10.231.525,32 |
50,51 |
|
I. Capital |
393.414,00 |
2,28 |
393.414,00 |
1,94 |
|
1. Authorized capital |
393.414,00 |
2,28 |
393.414,00 |
1,94 |
|
II. Issue premium |
|
|
|
|
|
III. Reserves |
9.228.063,74 |
53,52 |
9.812.610,32 |
48,45 |
|
1. Legal and statutory |
2.550,10 |
0,01 |
|
|
|
2. Other funds |
9.225.513,64 |
53,50 |
9.812.610,32 |
48,45 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
VII. Exercise Result |
643.609,15 |
3,73 |
25.501,00 |
0,13 |
|
VIII. (Interim dividend) |
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
A-2) Value changes adjustments |
|
|
-11.718,22 |
-0,06 |
|
I. Financial assets available for sale |
|
|
|
|
|
II. Coverage operations |
|
|
-11.718,22 |
-0,06 |
|
III. Non-current assets and related liabilities, maintained for sale |
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
V. Other |
|
|
|
|
|
A-3) Received legacies, grants and subventions |
5.274,63 |
0,03 |
|
|
|
B) NON CURRENT LIABILITIES |
1.206.540,88 |
7,00 |
2.252.497,04 |
11,12 |
|
I. Long term provisions |
89.999,98 |
0,52 |
89.999,98 |
0,44 |
|
4. Other provisions |
89.999,98 |
0,52 |
89.999,98 |
0,44 |
|
II. Long term debts |
1.106.319,66 |
6,42 |
2.147.708,79 |
10,60 |
|
2. Debts with bank entities |
1.097.968,46 |
6,37 |
2.116.244,43 |
10,45 |
|
3. Financial leasing creditors |
8.351,20 |
0,05 |
14.724,04 |
0,07 |
|
4. By-products |
|
|
16.740,32 |
0,08 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
IV. Liabilities by deferred taxes |
10.221,24 |
0,06 |
14.788,27 |
0,07 |
|
V. Long term periodifications |
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
C) CURRENT LIABILITIES |
5.766.147,84 |
33,44 |
7.782.224,83 |
38,42 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
III. Short term debts |
2.645.761,90 |
15,34 |
4.503.711,39 |
22,24 |
|
2. Debts with bank entities |
2.154.266,82 |
12,49 |
4.486.884,34 |
22,15 |
|
3. Financial leasing creditors |
4.863,28 |
0,03 |
11.068,25 |
0,05 |
|
5. Other financial liabilities |
486.631,80 |
2,82 |
5.758,80 |
0,03 |
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
V. Trade creditors and other payable accounts |
3.120.385,94 |
18,10 |
3.278.513,44 |
16,19 |
|
1. Suppliers |
1.823.350,19 |
10,57 |
1.661.760,02 |
8,20 |
|
b) Short term suppliers |
1.823.350,19 |
10,57 |
1.661.760,02 |
8,20 |
|
2. Suppliers group and associated companies |
|
|
47.313,40 |
0,23 |
|
3. Different creditors |
582.332,61 |
3,38 |
898.351,43 |
4,44 |
|
4. Staff (pending remunerations) |
237.984,02 |
1,38 |
16.730,62 |
0,08 |
|
5. Liabilities by current taxes |
46.981,87 |
0,27 |
89.763,73 |
0,44 |
|
6. Other debts with Public Administrations |
429.737,25 |
2,49 |
554.766,48 |
2,74 |
|
7. Clients pre-payments |
|
|
9.827,76 |
0,05 |
|
VI. Short term periodifications |
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
17.243.050,24 |
100,00 |
20.254.528,97 |
100,00 |
PROFIT AND LOSS
ACCOUNT
Figures given in €
|
|
31/12/2011 (12) |
%OPERATING INCOME |
31/12/2010 (7) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
1. Net Turnover |
30.035.795,83 |
99,87 |
30.593.999,45 |
99,93 |
|
A) Sales |
30.021.342,96 |
99,83 |
30.586.460,89 |
99,90 |
|
b) Services provided |
14.452,87 |
0,05 |
7.538,56 |
0,02 |
|
2. Variation in stocks of finished goods and work in progress |
193.661,29 |
0,64 |
-355.474,64 |
-1,16 |
|
3. Works for its own assets |
|
|
|
|
|
4. Supplies |
-20.100.592,59 |
-66,84 |
-19.990.534,23 |
-65,29 |
|
a) Material consumed |
-6.686.668,32 |
-22,23 |
-6.518.576,01 |
-21,29 |
|
b) Raw materials consumed |
-13.125.298,15 |
-43,64 |
-13.117.954,86 |
-42,85 |
|
c) Works carried out for other companies |
-288.626,12 |
-0,96 |
-354.003,36 |
-1,16 |
|
5. Other operating income |
37.800,68 |
0,13 |
22.251,50 |
0,07 |
|
a) Other incomes |
30.393,20 |
0,10 |
22.251,50 |
0,07 |
|
b) Operating grants included in the exercise result |
7.407,48 |
0,02 |
|
|
|
6. Labour cost |
-4.966.140,46 |
-16,51 |
-4.978.262,15 |
-16,26 |
|
a) Wages and similar expenses |
-3.942.547,78 |
-13,11 |
-3.864.612,04 |
-12,62 |
|
b) Social costs |
-1.023.592,68 |
-3,40 |
-1.113.650,11 |
-3,64 |
|
7. Other operating costs |
-3.252.341,75 |
-10,81 |
-3.809.689,51 |
-12,44 |
|
a) External services |
-3.030.721,94 |
-10,08 |
-3.549.497,48 |
-11,59 |
|
b) Taxes |
-26.620,41 |
-0,09 |
-145.073,59 |
-0,47 |
|
c) Losses, deterioration and variation on business operations
provisions |
-194.999,40 |
-0,65 |
-112.750,96 |
-0,37 |
|
d) Other day to day expenses |
|
|
-2.367,48 |
-0,01 |
|
8. Amortization of fixed assets |
-598.179,39 |
-1,99 |
-586.678,14 |
-1,92 |
|
9. Allocation of subventions on non financial investments and other |
2.125,31 |
0,01 |
|
|
|
10. Provisions excess |
|
|
2.609,63 |
0,01 |
|
11. Deterioration and result for fixed assets disposal |
1.100,00 |
0,00 |
18.600,00 |
0,06 |
|
b) Results for disposals and others |
1.100,00 |
0,00 |
18.600,00 |
0,06 |
|
12. Negative difference of business combinations |
|
|
|
|
|
13. Other results |
-33.144,07 |
-0,11 |
31.647,38 |
0,10 |
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
1.320.084,85 |
4,39 |
948.469,29 |
3,10 |
|
14. Financial income |
22.457,56 |
0,07 |
17.718,97 |
0,06 |
|
a) From net worth instruments participations |
|
|
19,00 |
0,00 |
|
a 2) On third parties |
|
|
19,00 |
0,00 |
|
b) From negotiable values and other financial instruments |
22.457,56 |
0,07 |
17.699,97 |
0,06 |
|
b 2) From third parties |
22.457,56 |
0,07 |
17.699,97 |
0,06 |
|
15. Financial expenses |
-145.479,89 |
-0,48 |
-181.864,47 |
-0,59 |
|
b) For debts with third parties |
-145.479,89 |
-0,48 |
-181.864,47 |
-0,59 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
17. Exchange differences |
-55.715,31 |
-0,19 |
-24.690,31 |
-0,08 |
|
18. Deterioration and result for disposal of financial instruments |
-163.515,47 |
-0,54 |
-714.186,77 |
-2,33 |
|
a) Deteriorations and losses |
-72.000,00 |
-0,24 |
-590.000,00 |
-1,93 |
|
b) Results for disposals and others |
-91.515,47 |
-0,30 |
-124.186,77 |
-0,41 |
|
19. Other financial income and expenses |
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-342.253,11 |
-1,14 |
-903.022,58 |
-2,95 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
977.831,74 |
3,25 |
45.446,71 |
0,15 |
|
20. Taxes on profits |
-334.222,59 |
-1,11 |
-19.945,71 |
-0,07 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
643.609,15 |
2,14 |
25.501,00 |
0,08 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
643.609,15 |
2,14 |
25.501,00 |
0,08 |
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 (7) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
643.609,15 |
25.501,00 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
9.660,50 |
|
|
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 |
-2.898,15 |
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
6.762,35 |
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
16.740,31 |
|
|
X. Received legacies, grants and subventions |
-2.125,31 |
|
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
-4.384,50 |
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
10.230,50 |
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
660.602,00 |
25.501,00 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
EXERCISE RESULT |
VALUE CHANGES ADJUSTMENTS |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
393.414,00 |
11.141.529,96 |
334.730,04 |
-11.718,22 |
|
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) |
393.414,00 |
11.141.529,96 |
334.730,04 |
-11.718,22 |
|
I. Total recognized income and expenses |
|
|
25.501,00 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
-1.328.919,64 |
-334.730,04 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
393.414,00 |
9.812.610,32 |
25.501,00 |
-11.718,22 |
|
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) |
393.414,00 |
9.812.610,32 |
25.501,00 |
-11.718,22 |
|
I. Total recognized income and expenses |
|
|
643.609,15 |
11.718,22 |
|
II. Operations with partners or owners |
|
-610.047,58 |
|
|
|
4. (-) Dividends distribution |
|
-600.780,00 |
|
|
|
6. Net worth increase (reduction) resulting
from a business combination |
|
-9.267,58 |
|
|
|
III. Other net worth variations |
|
25.501,00 |
-25.501,00 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
393.414,00 |
9.228.063,74 |
643.609,15 |
|
|
NET WORTH CHANGES ( 3 /3) |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
|
11.857.955,78 |
|
|
|
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) |
|
11.857.955,78 |
|
|
|
I. Total recognized income and expenses |
|
25.501,00 |
|
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
-1.663.649,68 |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
|
10.219.807,10 |
|
|
|
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) |
|
10.219.807,10 |
|
|
|
I. Total recognized income and expenses |
5.274,63 |
660.602,00 |
|
|
|
II. Operations with partners or owners |
|
-610.047,58 |
|
|
|
4. (-) Dividends distribution |
|
-600.780,00 |
|
|
|
6. Net worth increase (reduction)
resulting from a business combination |
|
-9.267,58 |
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
5.274,63 |
10.270.361,52 |
|
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2011 (12) |
31/12/2010 (7) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
1. exercise result before taxes |
977.831,74 |
45.446,71 |
|
2. Results adjustments |
1.023.292,38 |
1.699.750,62 |
|
a) Amortization of fixed assets (+) |
598.179,39 |
586.678,14 |
|
b) Value correction for deterioration (+/-) |
213.800,50 |
755.949,86 |
|
c) Change of Provisions (+/-) |
|
87.390,35 |
|
d) Grants allocation (-) |
-2.125,31 |
|
|
e) Results for decline and disposal of fixed assets (+/-) |
-1.100,00 |
-18.600,00 |
|
f) Results for decline and disposal of financial instruments (+/-) |
91.515,47 |
124.186,77 |
|
g) Financial income (-) |
-22.457,56 |
-17.718,97 |
|
f) Financial expenses (+) |
145.479,89 |
181.864,47 |
|
3. Changes in current capital |
-871.145,93 |
-855.350,60 |
|
a) Stocks (+/-) |
-4.766,66 |
-572.839,59 |
|
b) Debtors and other receivable accounts (+/-) |
1.440.705,97 |
-900.440,33 |
|
c) Other current assets (+/-) |
9.008,55 |
9.034,76 |
|
d) Creditors and other payable accounts (+/-) |
-115.345,64 |
-170.901,98 |
|
e) Other current liabilities (+/-) |
-2.200.748,15 |
1.357.734,32 |
|
f) Other non-current assets and liabilities (+/-) |
|
-577.937,78 |
|
4. Other cash flow coming from operating activities |
-402.860,14 |
-268.236,52 |
|
a) Interests payments (-) |
-145.479,89 |
-181.864,47 |
|
b) Dividends collections (+) |
|
19,00 |
|
c) Interests collections (+) |
22.457,56 |
16.290,04 |
|
d) Collections (payments) for profit tax (+/-) |
-279.837,81 |
-102.681,09 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
727.118,05 |
621.610,21 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-197.814,47 |
-786.973,24 |
|
a) Group and associated companies |
|
-300.000,00 |
|
b) Intangible assets |
-28.926,50 |
-155.841,95 |
|
c) Tangible assets |
-40.414,23 |
-331.131,29 |
|
e) Other financial assets |
-128.473,74 |
|
|
7. Disinvestment collections (+) |
277.780,74 |
2.573.347,18 |
|
a) Group and associated companies |
32.299,86 |
|
|
c) Tangible assets |
1.100,00 |
18.600,00 |
|
e) Other financial assets |
244.380,88 |
1.586.794,73 |
|
h) Other assets |
|
967.952,45 |
|
8. Cash Flow in investment activities (6 + 7) |
79.966,27 |
1.786.373,94 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
9.660,50 |
|
|
e) Received legacies, grants and subventions (+) |
9.660,50 |
|
|
10. Financial liabilities instruments collections and payments |
-1.150.145,34 |
-1.315.519,43 |
|
b) Return and amortization of |
-1.150.145,34 |
-1.315.519,43 |
|
2. Debts with bank entities (-) |
-1.150.145,34 |
-1.255.124,85 |
|
5. Other debts (-) |
|
-60.394,58 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
-114.148,20 |
|
|
a) Dividends (-) |
-114.148,20 |
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-1.254.633,04 |
-1.315.519,43 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
-447.548,72 |
1.092.464,72 |
|
Cash or equivalents at the beginning of the exercise |
1.092.464,72 |
|
|
Cash or equivalents at the end of the exercise |
644.916,00 |
1.092.464,72 |
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (7) |
|
BALANCE RATIOS |
|||
|
Working Capital (€) |
8.329.298,62 |
-3,64 |
8.643.726,37 |
|
Working capital ratio |
0,48 |
11,63 |
0,43 |
|
Soundness Ratio |
3,26 |
22,10 |
2,67 |
|
Average Collection Period (days) |
98 |
-15,48 |
116 |
|
Average Payment Period (days) |
48 |
-2,90 |
50 |
|
LIQUIDITY RATIOS |
|||
|
Current Ratio (%) |
244,45 |
15,81 |
211,07 |
|
Quick Ratio (%) |
12,57 |
-23,77 |
16,49 |
|
DEBT RATIOS |
|||
|
Borrowing percentage (%) |
21,76 |
-33,74 |
32,84 |
|
External Financing Average Cost |
0,04 |
33,33 |
0,03 |
|
Debt Service Coverage |
5,16 |
-51,78 |
10,70 |
|
Interest Coverage |
9,07 |
73,75 |
5,22 |
|
GENERAL AND ACTIVITIES RATIOS |
|||
|
Auto financing generated by sales (%) |
2,42 |
19,21 |
2,03 |
|
Auto financing generated by Assets (%) |
4,22 |
37,46 |
3,07 |
|
Breakdown Point |
1,05 |
1,94 |
1,03 |
|
Average Sales Volume per Employee |
225.833,05 |
8,51 |
208.122,45 |
|
Average Cost per Employee |
37.339,40 |
10,26 |
33.865,73 |
|
Assets Turnover |
1,74 |
15,23 |
1,51 |
|
Inventory Turnover (days) |
90 |
0,80 |
90 |
|
RESULTS RATIOS |
|||
|
Return on Assets (ROA) (%) |
7,66 |
63,68 |
4,68 |
|
Operating Profitability (%) |
11,13 |
44,92 |
7,68 |
|
Return on Equity (ROE) (%) |
9,53 |
2.065,91 |
0,44 |
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 |
18,25 |
28,63 |
-10,38 |
|
A) CURRENT ASSETS |
81,75 |
71,37 |
10,38 |
|
LIABILITIES |
|||
|
A) NET WORTH |
59,56 |
40,98 |
18,58 |
|
B) NON CURRENT LIABILITIES |
7,00 |
9,74 |
-2,75 |
|
C) CURRENT LIABILITIES |
33,44 |
49,27 |
-15,83 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,87 |
98,72 |
1,15 |
|
Other operating income |
0,13 |
1,28 |
-1,15 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-66,84 |
-71,43 |
4,59 |
|
Variation in stocks of finished goods and work in progress |
0,64 |
-0,02 |
0,66 |
|
GROSS MARGIN |
33,81 |
28,55 |
5,26 |
|
Other operating costs |
-10,81 |
-11,59 |
0,78 |
|
Labour cost |
-16,51 |
-11,89 |
-4,62 |
|
GROSS OPERATING RESULT |
6,48 |
5,07 |
1,41 |
|
Amortization of fixed assets |
-1,99 |
-1,30 |
-0,69 |
|
Deterioration and result for fixed assets disposal |
0,00 |
-0,02 |
0,02 |
|
Other expenses / income |
|
0,14 |
|
|
NET OPERATING RESULT |
4,39 |
3,88 |
0,51 |
|
Financial result |
-1,14 |
-0,63 |
-0,51 |
|
RESULT BEFORE TAX |
3,25 |
3,25 |
0,00 |
|
Taxes on profits |
-1,11 |
-0,94 |
-0,17 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
2,14 |
2,31 |
-0,17 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,01 |
|
|
NET RESULT |
2,14 |
2,32 |
-0,17 |
|
Amortization of fixed assets |
-1,99 |
-1,30 |
-0,69 |
|
Deterioration and provisions variation |
-2,64 |
-0,56 |
-2,08 |
|
|
6,77 |
4,18 |
2,59 |
Main Ratios
Figures given in €
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
8.329.298,62 |
634.306,53 |
1.726.876,04 |
3.086.580,73 |
|
Working capital ratio |
0,48 |
0,09 |
0,23 |
0,38 |
|
Soundness Ratio |
3,26 |
0,99 |
1,81 |
4,04 |
|
Average Collection Period (days) |
98 |
65 |
103 |
135 |
|
Average Payment Period (days) |
48 |
59 |
88 |
118 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
244,45 |
116,99 |
140,28 |
188,01 |
|
Quick Ratio (%) |
12,57 |
2,72 |
8,84 |
28,67 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
21,76 |
10,84 |
22,24 |
36,55 |
|
External Financing Average Cost |
0,04 |
0,04 |
0,05 |
0,07 |
|
Debt Service Coverage |
5,16 |
1,48 |
4,20 |
10,84 |
|
Interest Coverage |
9,07 |
1,24 |
2,97 |
9,68 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
2,42 |
1,20 |
2,53 |
5,35 |
|
Auto financing generated by Assets (%) |
4,22 |
2,05 |
4,02 |
8,09 |
|
Breakdown Point |
1,05 |
1,01 |
1,03 |
1,06 |
|
Average Sales Volume per Employee |
225.833,05 |
214.935,58 |
353.123,50 |
492.232,26 |
|
Average Cost per Employee |
37.339,40 |
28.168,87 |
35.726,44 |
46.713,66 |
|
Assets Turnover |
1,74 |
1,12 |
1,44 |
2,24 |
|
Inventory Turnover (days) |
90 |
32 |
57 |
102 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
7,66 |
2,19 |
4,62 |
8,74 |
|
Operating Profitability (%) |
11,13 |
3,66 |
6,84 |
11,54 |
|
Return on Equity (ROE) (%) |
9,53 |
2,61 |
7,27 |
21,34 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.98 |
|
|
1 |
Rs.88.11 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.