MIRA
INFORM REPORT
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Report Date : |
12.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ERCROS, 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 : |
01.07.1904 |
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Legal Form : |
Joint-stock Company |
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Line of Business : |
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No. of Employees : |
1.573 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
Company Name
ERCROS, SA
CIF/NIF: A08000630
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: ERCROS, SA
Commercial name: ERCROS, S.A.
Other names: YES
Current Address: AVENIDA DIAGONAL, 593 - 595
Branches: 19
Telephone number: 934393009 Fax: 934308073
URL: www.ercros.es
Corporate e-mail: ercros@ercros.es
Trade Risk
Credit appraisal: Caution suggested
Incidents: YES
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Latest sales known (2012): 700.000.000,00 € (Estimated)
Balance sheet latest sales (2011): 673.230.000,00 € (CNMV)
Result: -3.540.000 €
Total Assets: 594.900.000 €
Share capital: 30.450.394,50 €
Employees: 1.573
Listed on a Stock Exchange: YES
Commercial Information
Incorporation date: 01/07/1904
Activity: Mfg. of other inorganic basic chemical products
NACE 2009 CODE: 2013
International Operations: Imports and Exports
Corporate Structure
President:
Participations: 30
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2011
Latest act published in BORME: 03/01/2013 Other concepts
Latest press article: 16/11/2012 EL ECONOMISTA (FINANCIAL DATA)
Bank Entities: There are
Rating Explanation
Financial situation
The company’s financial situation is unfavourable.
The company’s financial situation evolution has been stable.
The sales evolution and results has been positive.
The auditor’s opinion about the latest accounts has
been favourable.
Company Structure
The company’s capitalization degree determines that its structure
is sound.
The company’s size is big depending on its sales volume.
The employees evolution has been negative.
Performance and Incidences
The available information indicates that the company does not have
payment incidences.
He have detected recent legal actions or claims from the Administration
against this company.
Accounts Filing
The company has had delays in the Accounts Filing in the Mercantile
Register.
Reasons of the last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
01/01/2013 |
Reduction |
3 |
New information has been loaded on our systems. |
|
13/12/2012 |
Increase |
5 |
There has been a variation in the affected parties of the company’s
non-payments information. |
|
30/11/2012 |
Equal |
3 |
There has been a change in the formula version. |
|
01/10/2012 |
Reduction |
3 |
There has been a variation in the affected parties of the company’s
non-payments information. |
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08/06/2012 |
Increase |
7 |
New information has been loaded on our systems. |
INCIDENTS
Summary
LEGAL ACTIONS: 1 ( Last:18/03/1994 )
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Insolvency Proceeding: |
1 |
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Civil Court: |
0 |
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Labour Courts: |
0 |
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ADMINISTRATIVE CLAIMS: 5 ( Last:02/09/2011 , first:
28/11/2008 )
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With the Social Security: |
0 |
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With the Tax Authorities: |
0 |
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With Other Official bodies: |
5 |
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AFFECTED BY:
2 Company / Companies in Insolvency Proceedings.
Last Legal Actions
figures expressed in €
INSOLVENCY PROCEEDING
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DATE |
CLAIM TYPE |
INCIDENCE STATUS |
ASSETS |
LIABILITIES |
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18/03/1994 |
SUSPENSION OF PAYMENTS |
SUSPENSION OF PAYMENTS/LIFT FILE |
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Details of the Latest Legal Actions
figures expressed in €
INSOLVENCY PROCEEDING
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Proceeding |
SUSPENSION OF PAYMENTS |
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Conducted in |
BARCELONA, FIRST INSTANCE COURT N. 4 |
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Writ Number |
975/1992 |
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Complaint Date |
18/03/1994 |
Record of the claim
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PHASE |
SUSPENSION OF PAYMENTS/LIFT FILE |
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Date of the Edict: 07/12/1994 |
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Source: Published in BORME: |
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PHASE |
SUSPENSION OF PAYMENTS / APPLICATION |
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Date of the Edict: 28/11/1996 |
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Source: Published in BORME: |
Latest Administrative Claims
figures expressed in €
WITH OTHER OFFICIAL BODIES.
Seizures
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DATE |
ORGANIZATION |
AMOUNT |
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02/09/2011 |
TOWN/ CITY HALL DE SEVILLA |
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13/04/2011 |
TOWN/ CITY HALL DE JAEN |
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19/01/2011 |
TOWN/ CITY HALL DE SEVILLA |
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Detail of the Latest Administrative Claims
figures expressed in €
Seizures
WITH OTHER OFFICIAL BODIES.
Phase: SEIZURE
Organization: TOWN/ CITY HALL DE SEVILLA
Concept: Other debts
Date of the claim: 02/09/2011
Source: Published in the Gazette of SEVILLA Appendix 01, on 05/10/2011, page 198
figures expressed in €
Seizures
WITH OTHER OFFICIAL BODIES.
Phase: SEIZURE
Organization: TOWN/ CITY HALL DE JAEN
Concept: Other debts
Date of the claim: 13/04/2011
Source: Published in the Gazette of JAEN, on 20/05/2011, page 13.308
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
04/01/2013
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 million €
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|
31/12/2011 (12) BALANCE SHEET |
% ASSETS |
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
329,63 |
55,41 |
346,99 |
54,50 |
177,19 |
97,14 |
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B) CURRENT ASSETS |
265,27 |
44,59 |
289,71 |
45,50 |
5,21 |
2,86 |
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LIABILITIES |
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A) NET WORTH |
185,54 |
31,19 |
191,98 |
30,15 |
175,71 |
96,33 |
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B) NON CURRENT LIABILITIES |
138,34 |
23,25 |
137,92 |
21,66 |
4,99 |
2,74 |
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C) CURRENT LIABILITIES |
271,02 |
45,56 |
306,80 |
48,19 |
1,70 |
0,93 |
Profit and loss account analysis
Figures given in million €
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|
2012 ESTIMATED |
31/12/2011 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
700,00 |
673,23 |
|
592,86 |
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GROSS MARGIN |
|
315,88 |
46,92 |
297,05 |
50,10 |
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EBITDA |
|
25,04 |
3,72 |
9,24 |
1,56 |
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EBIT |
|
8,10 |
1,20 |
-10,34 |
-1,74 |
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NET RESULT |
|
-3,54 |
-0,53 |
-10,00 |
-1,69 |
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EFFECTIVE TAX RATE (%) |
|
-8,29 |
-1,23 |
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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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A) NON CURRENT ASSETS |
55,41 |
58,12 |
-2,71 |
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A) CURRENT ASSETS |
44,59 |
41,88 |
2,71 |
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LIABILITIES |
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A) NET WORTH |
31,19 |
58,75 |
-27,56 |
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B) NON CURRENT LIABILITIES |
23,25 |
13,50 |
9,75 |
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C) CURRENT LIABILITIES |
45,56 |
27,75 |
17,81 |
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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 |
99,81 |
94,13 |
5,69 |
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GROSS MARGIN |
46,83 |
53,87 |
-7,04 |
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EBITDA |
3,71 |
11,12 |
-7,41 |
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EBIT |
1,20 |
5,88 |
-4,68 |
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NET RESULT |
-0,52 |
4,63 |
-5,15 |
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Sector Composition
Compared sector (NACE 2009): 2013
Number of companies: 16
Size (sales figure): > 7,000,000.00
Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2010
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
-10.000.000,00 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
0,00 |
|
Total of Amounts to be distributed |
-10.000.000,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
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Compensation of previous exercises losses |
-10.000.000,00 |
|
|
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Application total |
-10.000.000,00 |
Auditing
Source: filing of annual
financial statement 2011
Auditors’ opinion: FAVOURABLE
Auditor: ERNST & YOUNG
S.L.
ADDRESSES
Current Legal Seat Address:
AVENIDA DIAGONAL, 593 - 595
08014 BARCELONA
Characteristics of the current address
Type of establishment: office
Local Situation: main
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
BARRIO ESCORIALS, S/N |
08261 |
CARDONA |
Barcelona |
|
CALLE INDUSTRIA, 552 |
08027 |
BARCELONA |
Barcelona |
|
CALLE SANTA ANNA, 105 |
08290 |
CERDANYOLA DEL VALLES |
Barcelona |
|
PLAZA LAS MONJAS (5 PLTA), 8 |
21001 |
HUELVA |
Huelva |
|
CALLE DE SERRABLO, S/N |
22600 |
SABIÑANIGO |
Huesca |
|
POLIGONO INDUSTRIAL ARMENTERA, S/N |
22400 |
MONZON |
Huesca |
|
AVENIDA BRASIL (5 PIS), 7 |
28020 |
MADRID |
Madrid |
|
RONDA DE VALDECARRIZO (P I TRES CANTOS), 23 |
28760 |
TRES CANTOS |
Madrid |
|
RONDA DE VALDECARRIZO (50), 46 |
28760 |
TRES CANTOS |
Madrid |
|
PASEO DEL DELEITE, S/N |
28300 |
ARANJUEZ |
Madrid |
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
POLIGONO INDUSTRIAL JUNDIZ, S/N |
01015 |
VITORIA-GASTEIZ |
Araba/Álava |
|
CARRETERA ALZIRA, S/N |
46440 |
ALMUSSAFES |
Valencia |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
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Distribution of the administration board |
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Governing body : 9 members (latest change:
17/05/2010) Other Positions : 61 (latest change: 07/11/2012) Auditor : 3 (latest change: 14/10/2011) Operative Board Members : 5 (latest change: 02/03/2012) Non-current positions : 467 (latest change: 10/12/2012) |
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Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
ZABALZA MARTI, ANTONIO |
17/05/2010 |
|
MEMBER OF THE BOARD |
HORTALA ARAU, JOAN |
16/10/2006 |
|
MEMBER OF THE BOARD |
BLANCO BALIN, RAMON |
17/05/2010 |
|
MEMBER OF THE BOARD |
FERNANDEZ GOULA PFAFF, LUIS |
17/05/2010 |
|
MEMBER OF THE BOARD |
ROLDAN AGUILAR, LAUREANO |
17/05/2010 |
|
MEMBER OF THE BOARD |
SANCHEZ MORRONDO, EDUARDO |
17/05/2010 |
|
SECRETARY |
MAYANS SINTES, SANTIAGO |
23/02/2004 |
|
|
|
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Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
ERNST AND YOUNG SL |
22/10/2010 |
|
AUDITOR |
ERNST & YOUNG SL |
14/10/2011 |
|
CONSOLIDATED ACCOUNTS AUDITOR |
ERNST & YOUNG SL |
14/10/2011 |
Board members remuneration
Source: Annual financial report 2010
Board members remuneration: 740.000,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
ZABALZA MARTI, ANTONIO |
|
Financial Manager |
ALBERTI MENDEZ, MERICHEL |
|
Human Resources Director |
SAN MARTIN MUÑIZ, JOAQUIN |
|
IT Director |
GUAL DE DIEGO, EDUARDO |
|
R&D Director |
PEÑA PEÑACOVA, JOSE LUIS |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
THE SUMITOMO BANK LIMITED SUCURSAL EN ESPAÑA |
N7321032J |
4,80 |
OWN SOURCES |
02/03/2012 |
|
|
AXA SA |
A08232522 |
3,02 |
OWN SOURCES |
02/03/2012 |
|
|
TORRAS HOSTENCH LONDON LTD |
UNITED KINGDOM |
2,54 |
OWN SOURCES |
02/03/2012 |
|
|
INMOBILIARIA INDUSTRIAL Y URBANA SA |
A08112542 |
2,18 |
OWN SOURCES |
02/03/2012 |
|
|
BANCO SANTANDER SA |
A39000013 |
2,00 |
OWN SOURCES |
02/03/2012 |
|
|
MESA REDONDA S. L. |
B59429019 |
2,00 |
OWN SOURCES |
02/03/2012 |
|
|
MERRYLL LYNCH EUROPE PLC |
UNITED KINGDOM |
1,15 |
OWN SOURCES |
29/09/2008 |
|
|
BELEGAR INVERSIONES SL |
B78484185 |
0,19 |
OWN SOURCES |
02/03/2012 |
|
|
INVERSORA DE OLARIZU, SICAV, SA |
A01009273 |
0,18 |
OWN SOURCES |
02/03/2012 |
|
|
ZABALZA MARTI ANTONIO |
|
0,04 |
OWN SOURCES |
02/03/2012 |
Company
with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
CELLEX CHEMIE AG |
|
9,69 |
EXPANSIÓN |
01/03/2007 |
|
|
BANSABADELL INVERSIO DESENVOLUPAMENT SA |
A58696477 |
8,39 |
CINCO DIAS |
01/11/2006 |
|
|
NEXUS CAPITAL, SL (EXTINGUIDA) |
A61743423 |
4,08 |
B.O.R.M.E. |
19/01/2004 |
Company
with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
NITRICOMAX SOCIEDAD LIMITADA. |
B55580989 |
100,00 |
B.O.R.M.E. |
29/10/2012 |
|
|
FOSFATOS DE CARTAGENA SL |
B30756084 |
100,00 |
OWN SOURCES |
11/10/2012 |
|
|
ERCROS PORTUGAL SA |
PORTUGAL |
100,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
GADES LTDA |
UNITED KINGDOM |
100,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
INMOBILIARIA UNION INDUSTRIAL SA |
A08100851 |
100,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
ERCROS ITALIA SRL |
ITALY |
100,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
ERCROS FRANCE SA |
FRANCE |
100,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
ERCROS GREAT BRITAIN LTD |
UNITED KINGDOM |
100,00 |
MERCANTILE REGISTER |
31/12/2010 |
|
|
FORTOR STD |
UNITED KINGDOM |
100,00 |
B.O.R.M.E. |
10/06/2010 |
|
|
INMOBILIARIA INDUSTRIAL Y URBANA SA |
A08112542 |
100,00 |
B.O.R.M.E. |
10/06/2010 |
Company
with rating inferior to 7
|
|
BUSINESS NAME |
SHAREHOLDER |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
L’CORPORACION TURISTICA CORPOTUR S. L. |
INMOBILIARIA UNION INDUSTRIAL SA |
B80228562 |
100,00 |
MERCANTILE REGISTER |
31/12/2006 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LABORATORIOS BUSTO SA (EXTINGUIDA) |
A28453553 |
100,00 |
B.O.R.M.E. |
03/12/2012 |
|
|
ERCROS DEUTSCHLAND GMBH |
GERMANY |
100,00 |
EXPANSIÓN DE CATALUÑA |
03/11/2010 |
|
|
ARAGONESAS INDUSTRIAS Y ENERGIA SA (EXTINGUIDA) |
A08009268 |
100,00 |
B.O.R.M.E. |
10/06/2010 |
Company
with rating inferior to 7
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”ANTONIO ZABALZA MARTI”
|
COMPANY |
POSITION |
PROVINCE |
|
FEDERACION EMPRESARIAL CATALANA DEL SECTOR QUIMICO |
Presidente |
BARCELONA |
|
FOSFATOS DE CARTAGENA SL |
Administrador Único |
MURCIA |
|
SIGNO VINCE S.L. |
Administrador Único |
BARCELONA |
In case you need more information you can request: Board Members
Monitoring
Search Criterion: ”ERCROS, SA”
URL: investing.businessweek.com
ERCROS SA (ECR:Continuous): Stock Quote & Company Profile ... ERCROS SA
(ECR:SM) stock price & investing information. Find ERCROS SA historical
stock quotes, key competitors, stock data, executives and company ...
URL: www.answers.com
Ercros, S.A.: Information from Answers.com Ercros,
S.A. (Spanish:ECR) Type : Public On the web : http://www.ercros.es Chemical
giant Ercros is made up of seven divisions: basic chemicals (caustic.
URL: www.bloomberg.com
ECR:Continuous Stock Quote - Ercros SA - Bloomberg Stock
analysis for Ercros SA (ECR:Continuous) including stock price, stock chart,
company news, key statistics, fundamentals and company profile.
URL: www.reuters.com
Ercros SA (ECR.MC) Quote| Reuters.com Ercros SA is a Spain-based company
engaged, together with its subsidiaries, in the chemical industry. The
Company’s products are structured into three ...
URL: www.fda.gov
2012 > Ercros S.A. 6/20/12 Jul 10, 2012 ... During our July
11-15, 2011 inspection of your active pharmaceutical ingredient ( API)
manufacturing facility, Ercros S.A. located at Paseo del ...
BUSINESS INFORMATION
Incorporation date: 01/07/1904
Code: 1251300
Activity: Mfg. of other inorganic basic chemical products
NACE 2009 CODE: 2013
NACE 2009 Activity: Manufacture of other inorganic basic
chemicals
Business: FABRICACION Y COMERCIALIZACION DE TODO TIPO DE
FERTILIZANTES AGRICOLAS, DE PRODUCTOS ALIMENTICIOS Y NUTRIENTES PARA GANADERIA,
PRODUCTOS QUIMICOS Y PETROQUIMICOS, EL EJERCICIO DE INDUSTRIAS ELECTROQUIMICAS
Y ELECTROTECNN
Latest employees figure: 1.573 (2013)
% of fixed employees: 100,00%
% of men: 87,06%
% of women: 12,94%
Employees evolution
|
|
|
|
Source: Annual financial report 2010
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
1.399 |
208 |
COMMERCIAL OPERATIONS
PURCHASES
Import Percentage: 35%
Imports from: UE Y OTROS PAISES
National Distribution: 65%
SALES
Credit collections: 100%
Export Percentage: 46%
Exports to: UE, OCDE Y OTROS PAISES
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
FOSFATOS DE CARTAGENA SLU |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
ERCEKOL AIE |
NO |
|
ECROS FRANCE SA |
YES |
|
ECROS ITALIA SRL |
YES |
El 67,08% of its
turnover is for the businesses associated with chlorine.
El 28,08% of its turnover corresponds to intermediate chemical.
El 4,84% of its turnover corresponds to pharmacy.
Professional and advertising services
Source: Annual financial report 2009
Professional services expenses: 340.000,00 €
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO POPULAR ESPAÑOL, S.A. |
3490 |
VELAZQUEZ, 64 Y 66 |
MADRID |
Madrid |
|
BANCO SANTANDER, S.A. |
|
|
BARCELONA |
|
|
CATALUNYA BANC, S.A. |
|
|
BARCELONA |
|
|
BANKIA, S.A. |
|
|
BARCELONA |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
BARCELONA |
|
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
|
|
Equipos para procesos de información, elementos de transporte e
instalaciones técnicas. |
1.200.000,00 |
1.100.000,00 |
Grants
|
|
|
|
Grant type: For environmental impact Granting year: 2010 |
Nominal amount: 4.640.000,00 € Source: Filed
Accounts (2010) |
|
Operation description: Derechos de emisión de gases efecto
invernadero. |
|
|
|
|
|
Grant type: For fixed assets acquisition Granting year: 2010 |
Nominal amount: 610.000,00 € Source: Filed
Accounts (2010) |
|
Operation description: Para préstamos concedidos por el CDTI para
financiar compra de inmovilizado. |
|
|
|
|
|
Grant type: Financial (capital, interests, etc) Granting year: 2010 |
Nominal amount: 270.000,00 € Source: Filed
Accounts (2010) |
|
|
|
Banks
surveyed Sources inform us that the
owner keeps operating
for years a successful, offering a favorable opinion based on your experience.
FORMER NAMES:
SOCIEDAD ANONIMA CROS
Brand name: ERCROSBIO (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 18/10/2012
Brand name: ERCROS (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 08/02/2012
Brand name: ISODELSA (Valid)
Type: DENOMINATIVE Scope: INTERNATIONAL
Date: 22/09/2011
Brand name: CROS (Valid)
Type: JOINT Scope: NATIONAL Date: 16/10/2006
Brand name: A (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 18/08/2006
LEGAL STRUCTURE
Constitution Data
Register Date: 01/07/1904
Legal form: Joint-stock Company
Share capital: 30.450.394,50 €
Paid-up capital: 30.450.394,50 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2011)
Stock exchange information:
|
STOCK EXCHANGE TYPE |
LISTED ON THE STOCKS EXCHANGE OF |
TYPE OF QUOTATION IN STOCKS EXCHANGE |
STATUS |
|
Spanish Stock exchanges |
Barcelona |
Variable annuity |
Active |
|
Spanish Stock exchanges |
Bilbao |
Variable annuity |
Active |
|
Spanish Stock exchanges |
Madrid |
Variable annuity |
Active |
|
Spanish Stock exchanges |
Valencia |
Variable annuity |
Active |
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 132 (Last: 18/12/2012, first:
17/07/1990)
Acts on capital: 15 (Last: 25/10/2012, first: 13/03/1991)
Acts on creation: 0
Acts on filed accounts: 41 (Last: 21/09/2011, first:
12/11/1991)
Acts on identification: 1 (Last: 19/07/1990)
Acts on Information: 106 (Last: 03/01/2013, first:
19/10/1990)
Acts on proceedings: 6 (Last: 18/12/2012, first:
21/08/1992)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Suspension of payments |
18/12/2012 |
524017 |
Barcelona |
|
|
|
Suspension phase: Cancellation Register Data: Volume 43463, Folio 22, Section 8, Sheet 4704, Inscription I/A
922 (10/12/2012) Publication Data:
Register Barcelona, Gazette 241, Page
56659, Announcement 524017 (18/12/2012) |
|||
|
Capital enlargement (IA) |
25/10/2012 |
434853 |
Barcelona |
|
|
Register Data:
Volume 43463, Folio 18, Section 8, Sheet 4704, Inscription I/A
918 (17/10/2012) Publication
Data: Register Barcelona, Gazette 206, Page
47268, Announcement 434853 (25/10/2012) |
||||
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Other concepts |
03/01/2013 |
1819 |
Barcelona |
|
Other concepts |
03/01/2013 |
1818 |
Barcelona |
|
Other concepts |
03/01/2013 |
1817 |
Barcelona |
|
Other concepts |
03/01/2013 |
1816 |
Barcelona |
|
Resignations |
18/12/2012 |
524017 |
Barcelona |
|
Appointments |
30/11/2012 |
494259 |
Barcelona |
|
Resignations |
20/11/2012 |
473218 |
Barcelona |
|
Appointments |
20/11/2012 |
473217 |
Barcelona |
PRESS ARTICLES
Press summary by type of information (last five years)
Legal notices: 4 (Last: 06/05/2010, first: 25/05/2009)
Structural Data: 17 (Last: 18/09/2012, first: 15/04/2008)
Informative data: 36 (Last: 10/08/2012, first: 02/04/2008)
Financial Information: 40 (Last: 16/11/2012, first:
01/03/2008)
Negative information: 0
Business lines: 1 (Last: 05/05/2009)
Historical press releases: 459 (Last: 23/12/2007, first:
03/11/1992)
Latest press article published
16/11/2012 EL
ECONOMISTA (Page 10) FINANCIAL DATA
The chemical group until September ERCROS registered
a loss of 8.14 million euros, compared with 4.18 million profit earned in 2011.
Group revenue amounted to 518 million, 2.5% lower than in 2011, while the gross
operating profit fell by 45%,
from 25 to 13.8 million euros.
18/09/2012 EXPANSIÓN (Page 13) SHAREHOLDERS
AND HOLDINGS
The U.S. firm specific YORKVILLE ADVISORS its first investment in the chemical group ERCROS after engaging in March 2012 to inject up to 25 million in the equity of the company in 36 months. YORKVILLE want to subscribe to a capital increase of EUR 414,356.36 by issuing 878,255 shares at $ 0.30 par value, at a premium of 0.172 euros. YORKVILLE, defined as an alternative finance company for listed companies, articulate the operation through its fund DUTCH AND CAPITAL. YORKVILLE will control ERCROS 0.873%.
10/08/2012 CINCO DIAS (Page 6) ENVIRONMENT
ERCROS emission has reduced its production centers 39.6% in the last five
years, and emissions of greenhouse
gases have experienced a reduction of 32%, the company said in a statement.
03/08/2012 CINCO DIAS (Page 10) FINANCIAL
DATA
ERCROS ha registrado unas pérdidas de 5,7 millones de euros en el primer
semestre del año, lo que contrasta con el beneficio de 6,1 millones obtenido en
el mismo periodo de 2011, comunicó el 02/08/12 a la CNMV. Hasta junio, la
compañía química ha registrado una facturación de 353,4 millones de euros, un
3,2% menos que en los seis primeros meses del año pasado, cuando la cifra de
negocio se situó en 365 millones de euros.
29/07/2012 HERALDO DE
ARAGÓN (Page 7) PRINCIPALS
Antonio Ferrer dirigirá desde agosto la planta de ERCROS en Sabiñanigo,
tras la jubilación de José Luis Berges.
Complementary Information
Corporate Social Responsibility
Esta empresa se adhirió al Pacto Mundial el 24/06/2002. (Fuente: Red
Española del Pacto Mundial de Naciones Unidas). Último informe de progreso
presentado: Año 2010
FINANCIAL INFORMATION
SITUATION BALANCE-SHEET
Assets
Figures given in million €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
329,63 |
55,41 |
346,99 |
54,50 |
177,19 |
97,14 |
|
I. Intangible assets |
5,26 |
0,88 |
8,10 |
1,27 |
|
|
|
1. Development |
0,08 |
0,01 |
0,08 |
0,01 |
|
|
|
3. Patents, licences , trademarks and similars |
1,52 |
0,26 |
1,60 |
0,25 |
|
|
|
5. Software |
1,96 |
0,33 |
2,35 |
0,37 |
|
|
|
7. Other intangible assets |
1,70 |
0,29 |
4,07 |
0,64 |
|
|
|
II. Tangible fixed assets |
274,49 |
46,14 |
295,52 |
46,41 |
0,50 |
0,27 |
|
1. Property, plant and equipment |
152,57 |
25,65 |
159,71 |
25,08 |
0,14 |
0,08 |
|
2. Technical fittings and other tangible assets |
110,56 |
18,58 |
124,73 |
19,59 |
0,36 |
0,20 |
|
3. Fixed assets in progress and advances |
11,36 |
1,91 |
11,08 |
1,74 |
|
|
|
III. Real-estate investments |
27,95 |
4,70 |
21,29 |
3,34 |
|
|
|
1. Lands |
27,95 |
4,70 |
20,74 |
3,26 |
|
|
|
2. Buildings |
|
|
0,55 |
0,09 |
|
|
|
IV. Long term investments in associated and affiliated companies |
6,27 |
1,05 |
6,27 |
0,98 |
176,26 |
96,63 |
|
1. Net worth instruments |
5,98 |
1,01 |
5,98 |
0,94 |
1,88 |
1,03 |
|
2. Credits to companies |
0,29 |
0,05 |
0,29 |
0,05 |
174,38 |
95,60 |
|
V. Long Term Financial Investments |
12,28 |
2,06 |
12,37 |
1,94 |
0,43 |
0,24 |
|
1. Net worth instruments |
0,24 |
0,04 |
0,24 |
0,04 |
0,01 |
0,01 |
|
2. Credits to third parties |
8,34 |
1,40 |
9,96 |
1,56 |
0,02 |
0,01 |
|
3. Debt representative values |
0,21 |
0,04 |
0,05 |
0,01 |
0,40 |
0,22 |
|
5. Other financial assets |
3,49 |
0,59 |
2,12 |
0,33 |
|
|
|
VI. Assets by deferred taxes |
3,38 |
0,57 |
3,44 |
0,54 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
265,27 |
44,59 |
289,71 |
45,50 |
5,21 |
2,86 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
70,81 |
11,90 |
62,36 |
9,79 |
|
|
|
2. Raw material inventory |
33,32 |
5,60 |
27,51 |
4,32 |
|
|
|
3. Work in Progress |
5,65 |
0,95 |
5,85 |
0,92 |
|
|
|
b) Short production cycle |
5,65 |
0,95 |
5,85 |
0,92 |
|
|
|
4. Finished goods |
31,84 |
5,35 |
29,00 |
4,55 |
|
|
|
b) Short production cycle |
31,84 |
5,35 |
29,00 |
4,55 |
|
|
|
III. Trade Debtors and other receivable accounts |
159,55 |
26,82 |
155,61 |
24,44 |
5,11 |
2,80 |
|
1. Clients |
132,22 |
22,23 |
131,14 |
20,60 |
0,08 |
0,04 |
|
a) Clients for sales and long term services
rendering |
|
|
131,14 |
20,60 |
|
|
|
b) Clients for sales and short term services
rendering |
132,22 |
22,23 |
|
|
0,08 |
0,04 |
|
2. Clients group and associated companies |
4,60 |
0,77 |
4,68 |
0,74 |
4,68 |
2,57 |
|
3. Other debts |
16,59 |
2,79 |
17,21 |
2,70 |
|
|
|
4. Staff |
|
|
0,01 |
0,00 |
|
|
|
6. Other credits with the Public Administrations |
6,14 |
1,03 |
2,57 |
0,40 |
0,35 |
0,19 |
|
IV. Short term investments in associated and affiliated companies |
1,42 |
0,24 |
20,88 |
3,28 |
|
|
|
2. Credits to companies |
|
|
1,23 |
0,19 |
|
|
|
5. Other financial assets |
1,42 |
0,24 |
19,65 |
3,09 |
|
|
|
V. Short term financial investments |
26,61 |
4,47 |
43,80 |
6,88 |
|
|
|
3. Debt representative values |
0,30 |
0,05 |
|
|
|
|
|
5. Other financial assets |
26,31 |
4,42 |
43,80 |
6,88 |
|
|
|
VI. Short term periodifications |
0,63 |
0,11 |
0,61 |
0,10 |
|
|
|
VII. Cash and equivalents |
6,25 |
1,05 |
6,45 |
1,01 |
0,10 |
0,05 |
|
1. Treasury |
6,25 |
1,05 |
|
|
0,10 |
0,05 |
|
2. Other cash equivalents |
|
|
6,45 |
1,01 |
|
|
|
TOTAL ASSETS (A + B) |
594,90 |
100,00 |
636,70 |
100,00 |
182,40 |
100,00 |
Net Worth and Liabilities
Figures given in million €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NET WORTH |
185,54 |
31,19 |
191,98 |
30,15 |
175,71 |
96,33 |
|
A-1) Equity |
182,52 |
30,68 |
190,33 |
29,89 |
175,71 |
96,33 |
|
I. Capital |
30,19 |
5,07 |
30,19 |
4,74 |
161,00 |
88,27 |
|
1. Authorized capital |
30,19 |
5,07 |
30,19 |
4,74 |
161,00 |
88,27 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
155,87 |
26,20 |
170,14 |
26,72 |
3,54 |
1,94 |
|
1. Legal and statutory |
15,45 |
2,60 |
15,45 |
2,43 |
3,54 |
1,94 |
|
2. Other funds |
140,42 |
23,60 |
154,69 |
24,30 |
|
|
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
-0,74 |
-0,41 |
|
2. (Prior years losses) |
|
|
|
|
-0,74 |
-0,41 |
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-3,54 |
-0,60 |
-10,00 |
-1,57 |
11,91 |
6,53 |
|
VIII. (Interim dividend) |
|
|
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
-0,08 |
-0,01 |
-0,23 |
-0,04 |
|
|
|
I. Financial assets available for sale |
|
|
|
|
|
|
|
II. Coverage operations |
-0,08 |
-0,01 |
-0,23 |
-0,04 |
|
|
|
III. Non-current assets and related liabilities, maintained for sale |
|
|
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
|
|
V. Other |
|
|
|
|
|
|
|
A-3) Received legacies, grants and subventions |
3,10 |
0,52 |
1,88 |
0,30 |
|
|
|
B) NON CURRENT LIABILITIES |
138,34 |
23,25 |
137,92 |
21,66 |
4,99 |
2,74 |
|
I. Long term provisions |
34,92 |
5,87 |
52,00 |
8,17 |
4,98 |
2,73 |
|
1. Long term staff benefits obligations |
1,28 |
0,22 |
1,40 |
0,22 |
|
|
|
2. Environmental actions |
22,67 |
3,81 |
24,95 |
3,92 |
|
|
|
3. Restructuring provisions |
4,82 |
0,81 |
8,43 |
1,32 |
|
|
|
4. Other provisions |
6,15 |
1,03 |
17,22 |
2,70 |
4,98 |
2,73 |
|
II. Long term debts |
64,80 |
10,89 |
49,53 |
7,78 |
0,01 |
0,01 |
|
2. Debts with bank entities |
7,61 |
1,28 |
0,73 |
0,11 |
0,01 |
0,01 |
|
3. Financial leasing creditors |
0,50 |
0,08 |
1,04 |
0,16 |
|
|
|
5. Other financial liabilities |
56,69 |
9,53 |
47,76 |
7,50 |
|
|
|
III. Long term debts with associated and affiliated companies |
2,24 |
0,38 |
0,75 |
0,12 |
|
|
|
IV. Liabilities by deferred taxes |
36,38 |
6,12 |
35,64 |
5,60 |
|
|
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
271,02 |
45,56 |
306,80 |
48,19 |
1,70 |
0,93 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
2,36 |
0,40 |
3,31 |
0,52 |
|
|
|
III. Short term debts |
102,25 |
17,19 |
154,16 |
24,21 |
|
|
|
2. Debts with bank entities |
79,35 |
13,34 |
36,75 |
5,77 |
|
|
|
3. Financial leasing creditors |
0,67 |
0,11 |
1,06 |
0,17 |
|
|
|
5. Other financial liabilities |
22,23 |
3,74 |
116,35 |
18,27 |
|
|
|
IV. Short term debts with associated and affiliated companies |
2,61 |
0,44 |
2,66 |
0,42 |
|
|
|
V. Trade creditors and other payable accounts |
163,80 |
27,53 |
146,67 |
23,04 |
1,70 |
0,93 |
|
1. Suppliers |
112,49 |
18,91 |
93,23 |
14,64 |
|
|
|
a) Long term suppliers |
|
|
93,23 |
14,64 |
|
|
|
b) Short term suppliers |
112,49 |
18,91 |
|
|
|
|
|
2. Suppliers group and associated companies |
3,14 |
0,53 |
1,90 |
0,30 |
0,36 |
0,20 |
|
3. Different creditors |
34,67 |
5,83 |
35,15 |
5,52 |
0,89 |
0,49 |
|
4. Staff (pending remunerations) |
4,48 |
0,75 |
8,65 |
1,36 |
0,02 |
0,01 |
|
6. Other debts with Public Administrations |
8,11 |
1,36 |
5,41 |
0,85 |
0,43 |
0,24 |
|
7. Clients pre-payments |
0,91 |
0,15 |
2,33 |
0,37 |
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
594,90 |
100,00 |
636,70 |
100,00 |
182,40 |
100,00 |
PROFIT AND LOSS ACCOUNT
Figures given in million €
|
|
31/12/2011 (12) |
%OPERATING INCOME |
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
673,23 |
99,81 |
592,86 |
99,75 |
|
|
|
A) Sales |
634,85 |
94,12 |
557,36 |
93,78 |
|
|
|
b) Services provided |
38,38 |
5,69 |
35,50 |
5,97 |
|
|
|
2. Variation in stocks of finished goods and work in progress |
5,00 |
0,74 |
-9,76 |
-1,64 |
|
|
|
3. Works for its own assets |
0,01 |
0,00 |
0,07 |
0,01 |
|
|
|
4. Supplies |
-363,61 |
-53,91 |
-287,54 |
-48,38 |
|
|
|
a) Material consumed |
-40,97 |
-6,07 |
-31,57 |
-5,31 |
|
|
|
b) Raw materials consumed |
-309,70 |
-45,92 |
-242,49 |
-40,80 |
|
|
|
c) Works carried out for other companies |
-12,67 |
-1,88 |
-13,30 |
-2,24 |
|
|
|
d) Deterioration on merchandises, raw materials and other supplies |
-0,27 |
-0,04 |
-0,18 |
-0,03 |
|
|
|
5. Other operating income |
1,25 |
0,19 |
1,42 |
0,24 |
3,16 |
100,00 |
|
a) Other incomes |
0,87 |
0,13 |
1,39 |
0,23 |
3,16 |
100,00 |
|
b) Operating grants included in the exercise result |
0,38 |
0,06 |
0,03 |
0,01 |
|
|
|
6. Labour cost |
-82,75 |
-12,27 |
-85,54 |
-14,39 |
-0,75 |
-23,73 |
|
a) Wages and similar expenses |
-62,52 |
-9,27 |
-64,61 |
-10,87 |
-0,62 |
-19,62 |
|
b) Social costs |
-20,09 |
-2,98 |
-20,80 |
-3,50 |
-0,13 |
-4,11 |
|
c) Provisions |
-0,14 |
-0,02 |
-0,13 |
-0,02 |
|
|
|
7. Other operating costs |
-217,97 |
-32,32 |
-208,20 |
-35,03 |
-3,05 |
-96,52 |
|
a) External services |
-208,45 |
-30,90 |
-199,10 |
-33,50 |
-3,09 |
-97,78 |
|
b) Taxes |
-6,10 |
-0,90 |
-6,18 |
-1,04 |
-0,06 |
-1,90 |
|
c) Losses, deterioration and variation on business operations
provisions |
-1,09 |
-0,16 |
-0,14 |
-0,02 |
0,10 |
3,16 |
|
d) Other day to day expenses |
-2,33 |
-0,35 |
-2,78 |
-0,47 |
|
|
|
8. Amortization of fixed assets |
-18,00 |
-2,67 |
-19,29 |
-3,25 |
-0,16 |
-5,06 |
|
9. Allocation of subventions on non financial investments and other |
1,39 |
0,21 |
2,78 |
0,47 |
|
|
|
10. Provisions excess |
2,57 |
0,38 |
0,03 |
0,01 |
|
|
|
11. Deterioration and result for fixed assets disposal |
5,47 |
0,81 |
3,10 |
0,52 |
|
|
|
a) Deteriorations and losses |
-0,15 |
-0,02 |
|
|
|
|
|
b) Results for disposals and others |
5,62 |
0,83 |
3,10 |
0,52 |
|
|
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
1,51 |
0,22 |
-0,27 |
-0,05 |
10,62 |
336,08 |
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
8,10 |
1,20 |
-10,34 |
-1,74 |
9,82 |
310,76 |
|
14. Financial income |
0,27 |
0,04 |
0,44 |
0,07 |
2,31 |
73,10 |
|
b) From negotiable values and other financial instruments |
0,27 |
0,04 |
0,44 |
0,07 |
2,31 |
73,10 |
|
b 1) From group and associated companies |
0,10 |
0,01 |
0,10 |
0,02 |
|
|
|
b 2) From third parties |
0,17 |
0,03 |
0,34 |
0,06 |
2,31 |
73,10 |
|
15. Financial expenses |
-11,28 |
-1,67 |
-5,73 |
-0,96 |
-0,17 |
-5,38 |
|
a) For debts with associated and affiliated companies |
-0,02 |
0,00 |
-0,05 |
-0,01 |
|
|
|
b) For debts with third parties |
-11,26 |
-1,67 |
-5,68 |
-0,96 |
-0,17 |
-5,38 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
|
|
0,23 |
0,04 |
-0,05 |
-1,58 |
|
18. Deterioration and result for disposal of financial instruments |
-0,95 |
-0,14 |
5,40 |
0,91 |
|
|
|
a) Deteriorations and losses |
-0,95 |
-0,14 |
5,40 |
0,91 |
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-11,96 |
-1,77 |
0,34 |
0,06 |
2,09 |
66,14 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-3,86 |
-0,57 |
-10,00 |
-1,68 |
11,91 |
376,90 |
|
20. Taxes on profits |
0,32 |
0,05 |
|
|
|
|
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-3,54 |
-0,52 |
-10,00 |
-1,68 |
11,91 |
376,90 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-3,54 |
-0,52 |
-10,00 |
-1,68 |
11,91 |
376,90 |
NET WORTH CHANGES STATUS
Status of recognized income and expenses
Figures given in million €
|
NET WORTH CHANGES (1/3) |
31/12/2011 (12) |
31/12/2010 (12) |
31/12/2009 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-3,54 |
-10,00 |
11,91 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
|
I. For valuation of financial instruments |
|
|
|
|
II. Cash flow coverage |
0,21 |
-0,33 |
|
|
III. Received legacies, grants and subventions |
8,20 |
5,90 |
|
|
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 |
-1,12 |
-0,28 |
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
7,29 |
5,29 |
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
|
VIII. For valuation of financial instruments |
|
|
|
|
IX. Cash flow coverage |
|
|
|
|
X. Received legacies, grants and subventions |
-5,92 |
-3,64 |
|
|
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) |
-5,92 |
-3,64 |
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-2,17 |
-8,35 |
11,91 |
Total net worth changes status
Figures given in million €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED
CAPITAL |
ISSUE PREMIUM |
RESERVES |
RESULTS FROM
PREVIOUS EXERCISES |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
362,24 |
109,15 |
-107,10 |
-199,28 |
|
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) |
362,24 |
109,15 |
-107,10 |
-199,28 |
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
-201,24 |
-109,15 |
309,92 |
-0,74 |
|
1. Capital Increases |
|
|
310,39 |
|
|
2. (-) Capital reductions |
-201,24 |
-109,15 |
|
|
|
7. Other operations with partners or owners |
|
|
-0,47 |
-0,74 |
|
III. Other net worth variations |
|
|
-199,28 |
199,28 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
161,00 |
|
2,80 |
|
|
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) |
161,00 |
|
2,80 |
|
|
I. Total recognized income and expenses |
|
|
11,91 |
|
|
II. Operations with partners or owners |
-130,81 |
|
130,21 |
|
|
1. Capital Increases |
|
|
130,81 |
|
|
2. (-) Capital reductions |
-130,81 |
|
|
|
|
7. Other operations with partners or owners |
|
|
-0,60 |
|
|
III. Other net worth variations |
|
|
25,22 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
30,19 |
|
166,57 |
|
|
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) |
30,19 |
|
166,57 |
|
|
I. Total recognized income and expenses |
|
|
|
|
|
II. Operations with partners or owners |
|
|
-0,59 |
|
|
7. Other operations with partners or owners |
|
|
-0,59 |
|
|
III. Other net worth variations |
|
|
-10,11 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
30,19 |
|
155,87 |
|
|
NET WORTH CHANGES ( 3 /3) |
EXERCISE RESULT |
VALUE CHANGES
ADJUSTMENT |
RECEIVED
LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
|
|
|
165,01 |
|
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) |
|
|
|
165,01 |
|
I. Total recognized income and expenses |
11,91 |
|
|
11,91 |
|
II. Operations with partners or owners |
|
|
|
-1,21 |
|
1. Capital Increases |
|
|
|
|
|
2. (-) Capital reductions |
|
|
|
|
|
7. Other operations with partners or owners |
|
|
|
-1,21 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
11,91 |
|
|
175,71 |
|
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) |
11,91 |
|
|
175,71 |
|
I. Total recognized income and expenses |
-21,91 |
-0,23 |
1,88 |
-8,35 |
|
II. Operations with partners or owners |
|
|
|
-0,60 |
|
1. Capital Increases |
|
|
|
|
|
2. (-) Capital reductions |
|
|
|
|
|
7. Other operations with partners or owners |
|
|
|
-0,60 |
|
III. Other net worth variations |
|
|
|
25,22 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
-10,00 |
-0,23 |
1,88 |
188,41 |
|
I. Adjustments by change of criteria in the exercise (2010) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2010) |
-0,11 |
|
|
-0,11 |
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2011) |
-10,11 |
-0,23 |
1,88 |
188,30 |
|
I. Total recognized income and expenses |
-3,54 |
0,15 |
1,22 |
-2,17 |
|
II. Operations with partners or owners |
|
|
|
-0,59 |
|
7. Other operations with partners or owners |
|
|
|
-0,59 |
|
III. Other net worth variations |
10,11 |
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
-3,54 |
-0,08 |
3,10 |
185,54 |
CASH FLOW STATUS
Figures given in million €
|
|
31/12/2011 (12) |
31/12/2010 (12) |
31/12/2009 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
|
1. exercise result before taxes |
-3,86 |
-10,00 |
11,91 |
|
2. Results adjustments |
26,18 |
10,67 |
-11,76 |
|
a) Amortization of fixed assets (+) |
18,00 |
19,29 |
0,16 |
|
b) Value correction for deterioration (+/-) |
4,83 |
-3,36 |
|
|
c) Change of Provisions (+/-) |
-1,69 |
-0,90 |
|
|
d) Grants allocation (-) |
-1,39 |
-2,78 |
|
|
e) Results for decline and disposal of fixed assets (+/-) |
-5,65 |
-3,10 |
|
|
f) Results for decline and disposal of financial instruments (+/-) |
|
-5,40 |
|
|
g) Financial income (-) |
-0,27 |
-0,44 |
-2,80 |
|
f) Financial expenses (+) |
11,28 |
5,73 |
0,17 |
|
i) Change difference (+/-) |
|
-0,23 |
|
|
k) Other income and expenses (-/+) |
1,07 |
1,86 |
-9,29 |
|
3. Changes in current capital |
-1,66 |
-0,55 |
4,28 |
|
a) Stocks (+/-) |
-10,81 |
12,01 |
|
|
b) Debtors and other receivable accounts (+/-) |
-5,03 |
31,84 |
-0,77 |
|
c) Other current assets (+/-) |
-0,45 |
-19,34 |
5,81 |
|
d) Creditors and other payable accounts (+/-) |
13,94 |
-22,08 |
-0,68 |
|
e) Other current liabilities (+/-) |
0,75 |
-2,98 |
-0,08 |
|
f) Other non-current assets and liabilities (+/-) |
-0,06 |
|
|
|
4. Other cash flow coming from operating activities |
-6,97 |
-3,08 |
-3,22 |
|
a) Interests payments (-) |
-7,46 |
-3,96 |
-3,22 |
|
c) Interests collections (+) |
0,12 |
0,77 |
|
|
d) Collections (payments) for profit tax (+/-) |
0,32 |
|
|
|
e) Other payments (collections) (-/+) |
0,05 |
0,11 |
|
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
13,69 |
-2,96 |
1,21 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
|
6. Investment payments (-) |
-8,08 |
-20,28 |
|
|
a) Group and associated companies |
|
-12,19 |
|
|
b) Intangible assets |
-0,23 |
|
|
|
c) Tangible assets |
-7,64 |
-8,09 |
|
|
e) Other financial assets |
-0,21 |
|
|
|
7. Disinvestment collections (+) |
6,17 |
15,39 |
|
|
a) Group and associated companies |
|
2,84 |
|
|
b) Intangible assets |
4,35 |
1,01 |
|
|
c) Tangible assets |
1,82 |
2,09 |
|
|
f) Non-current assets maintained for sale |
|
9,23 |
|
|
h) Other assets |
|
0,22 |
|
|
8. Cash Flow in investment activities (6 + 7) |
-1,91 |
-4,89 |
|
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
|
9. Net worth instruments collections and payments |
3,31 |
1,18 |
|
|
e) Received legacies, grants and subventions (+) |
3,31 |
1,18 |
|
|
10. Financial liabilities instruments collections and payments |
-14,70 |
0,81 |
|
|
a) Issue |
92,75 |
6,41 |
|
|
2. Debts with bank entities (+) |
65,30 |
1,47 |
|
|
3. Debts with group and associated companies (+) |
9,77 |
|
|
|
5. Other debts (+) |
17,68 |
4,94 |
|
|
b) Return and amortization of |
-107,45 |
-5,60 |
|
|
2. Debts with bank entities (-) |
-36,86 |
|
|
|
3. Debts with group and associated companies (-) |
-0,05 |
-4,11 |
|
|
5. Other debts (-) |
-70,54 |
-1,49 |
|
|
11. Payments for dividends and remunerations of other net worth
instruments |
-0,59 |
-0,60 |
-1,21 |
|
b) Other net worth instruments remuneration (-) |
-0,59 |
-0,60 |
-1,21 |
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-11,98 |
1,39 |
-1,21 |
|
D) Exchange rate variations effect |
|
12,81 |
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
-0,20 |
6,35 |
|
|
Cash or equivalents at the beginning of the exercise |
6,45 |
0,10 |
0,10 |
|
Cash or equivalents at the end of the exercise |
6,25 |
6,45 |
0,10 |
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
-5,75 |
66,35 |
-17,09 |
-586,89 |
3,51 |
|
Working capital ratio |
-0,01 |
66,67 |
-0,03 |
-250,00 |
0,02 |
|
Soundness Ratio |
0,55 |
0,00 |
0,55 |
-44,44 |
0,99 |
|
Average Collection Period (days) |
85 |
-9,54 |
94 |
|
|
|
Average Payment Period (days) |
103 |
-4,98 |
108 |
-45,96 |
201 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
97,88 |
3,65 |
94,43 |
-69,19 |
306,47 |
|
Quick Ratio (%) |
12,12 |
-25,95 |
16,38 |
178,57 |
5,88 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
28,90 |
-11,16 |
32,53 |
325.200,00 |
0,00 |
|
External Financing Average Cost |
0,07 |
133,33 |
0,03 |
-99,82 |
17,00 |
|
Debt Service Coverage |
12,56 |
117,95 |
-69,97 |
-699.800,00 |
0,01 |
|
Interest Coverage |
0,72 |
140,00 |
-1,80 |
-103,12 |
57,76 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
2,03 |
506,00 |
-0,50 |
|
|
|
Auto financing generated by Assets (%) |
2,30 |
600,00 |
-0,46 |
-169,70 |
0,66 |
|
Breakdown Point |
1,01 |
3,06 |
0,98 |
|
|
|
Average Sales Volume per Employee |
0,42 |
16,22 |
0,37 |
|
0,00 |
|
Average Cost per Employee |
0,05 |
0,00 |
0,05 |
-61,54 |
0,12 |
|
Assets Turnover |
1,13 |
21,51 |
0,93 |
|
|
|
Inventory Turnover (days) |
70 |
-10,14 |
78 |
|
|
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
1,36 |
183,95 |
-1,62 |
-130,11 |
5,38 |
|
Operating Profitability (%) |
5,74 |
202,11 |
1,90 |
-65,27 |
5,47 |
|
Return on Equity (ROE) (%) |
-2,12 |
59,62 |
-5,25 |
-177,43 |
6,78 |
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 |
55,41 |
58,12 |
-2,71 |
|
A) CURRENT ASSETS |
44,59 |
41,88 |
2,71 |
|
LIABILITIES |
|||
|
A) NET WORTH |
31,19 |
58,75 |
-27,56 |
|
B) NON CURRENT LIABILITIES |
23,25 |
13,50 |
9,75 |
|
C) CURRENT LIABILITIES |
45,56 |
27,75 |
17,81 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,81 |
94,13 |
5,68 |
|
Other operating income |
0,19 |
5,87 |
-5,68 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-53,91 |
-44,47 |
-9,44 |
|
Variation in stocks of finished goods and work in progress |
0,74 |
-1,66 |
2,40 |
|
GROSS MARGIN |
46,83 |
53,87 |
-7,04 |
|
Other operating costs |
-32,32 |
-29,09 |
-3,23 |
|
Labour cost |
-12,27 |
-14,16 |
1,89 |
|
GROSS OPERATING RESULT |
2,25 |
10,63 |
-8,38 |
|
Amortization of fixed assets |
-2,67 |
-5,32 |
2,65 |
|
Deterioration and result for fixed assets disposal |
0,81 |
-0,01 |
0,82 |
|
Other expenses / income |
|
0,58 |
|
|
NET OPERATING RESULT |
1,20 |
5,88 |
-4,68 |
|
Financial result |
-1,77 |
-0,10 |
-1,66 |
|
RESULT BEFORE TAX |
-0,57 |
5,77 |
-6,34 |
|
Taxes on profits |
0,05 |
-1,14 |
1,20 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
-0,52 |
4,63 |
-5,15 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
-0,52 |
4,63 |
-5,15 |
|
Amortization of fixed assets |
-2,67 |
-5,32 |
2,65 |
|
Deterioration and provisions variation |
-2,51 |
0,07 |
-2,58 |
|
|
4,66 |
9,87 |
-5,21 |
Main Ratios
Figures given in million €
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
-5,75 |
0,99 |
3,01 |
7,91 |
|
Working capital ratio |
-0,01 |
0,06 |
0,16 |
0,34 |
|
Soundness Ratio |
0,55 |
0,88 |
1,22 |
1,96 |
|
Average Collection Period (days) |
85 |
69 |
97 |
129 |
|
Average Payment Period (days) |
103 |
87 |
102 |
153 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
97,88 |
122,97 |
151,59 |
227,88 |
|
Quick Ratio (%) |
12,12 |
0,26 |
8,38 |
26,09 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
28,90 |
2,52 |
10,38 |
29,16 |
|
External Financing Average Cost |
0,07 |
0,03 |
0,04 |
0,06 |
|
Debt Service Coverage |
12,56 |
0,25 |
1,47 |
3,38 |
|
Interest Coverage |
0,72 |
1,19 |
6,36 |
17,68 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
2,03 |
5,18 |
9,58 |
13,37 |
|
Auto financing generated by Assets (%) |
2,30 |
6,78 |
9,82 |
12,60 |
|
Breakdown Point |
1,01 |
1,01 |
1,05 |
1,09 |
|
Average Sales Volume per Employee |
0,42 |
0,26 |
0,37 |
0,45 |
|
Average Cost per Employee |
0,05 |
0,04 |
0,05 |
0,05 |
|
Assets Turnover |
1,13 |
0,79 |
0,99 |
1,47 |
|
Inventory Turnover (days) |
70 |
34 |
80 |
153 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
1,36 |
1,63 |
5,16 |
9,22 |
|
Operating Profitability (%) |
5,74 |
6,56 |
11,70 |
14,94 |
|
Return on Equity (ROE) (%) |
-2,12 |
1,57 |
9,52 |
22,90 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
UK Pound |
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
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.