MIRA INFORM REPORT

 

 

Report Date :

29.01.2013

 

IDENTIFICATION DETAILS

 

Name :

EFI CRETAPRINT SL.

 

 

Registered Office :

Carretera Nacional 340 (Km 970. Pol Ind Ramonet) 12550 Almazora Castellón 

 

 

Country :

Spain

 

 

Financials (as on) :

31.07.2012

 

 

Date of Incorporation :

21.01.2000

 

 

Legal Form :

Sole-partnered Limited Liability Company

 

 

Line of Business :

Wholesale of machinery, office materials

 

 

No. of Employees :

209

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

spain - ECONOMIC OVERVIEW

 

spain's mixed capitalist economy is the 13th largest in the world, and its per capita income roughly matches that of Germany and France. However, after almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.1% in 2010, before turning positive in 2011, making Spain the last major economy to emerge from the global recession. The reversal in Spain''s economic growth reflected a significant decline in construction amid an oversupply of housing and falling consumer spending, while exports actually have begun to grow. Government efforts to boost the economy through stimulus spending, extended unemployment benefits, and loan guarantees did not prevent a sharp rise in the unemployment rate, which rose from a low of about 8% in 2007 to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target negotiated between Spain and the EU. Spain''s large budget deficit and poor economic growth prospects have made it vulnerable to financial contagion from other highly-indebted euro zone members despite the government''s efforts to cut spending, privatize industries, and boost competitiveness through labor market reforms. Spanish banks'' high exposure to the collapsed domestic construction and real estate market also poses a continued risk for the sector. The government oversaw a restructuring of the savings bank sector in 2010, and provided some $15 billion in capital to various institutions. Investors remain concerned that Madrid may need to bail out more troubled banks. The Bank of Spain, however, is seeking to boost confidence in the financial sector by pressuring banks to come clean about their losses and consolidate into stronger groups.

Source : CIA

 

Company name

 

EFI CRETAPRINT SL.

CIF/NIF: B82480377

Company situation: Active

 

 

EXECUTIVE SUMMARY

   

Identification

Current Business Name:           EFI CRETAPRINT SL.

Other names:                           YES

Current Address:                      CARRETERA NACIONAL 340 (KM 970. POL IND RAMONET)

12550 ALMAZORA CASTELLÓN 

Branches:                                 1

Telephone number:                  964340264 Fax: 964256211

URL:                                         www.cretaprint.com 

Corporate e-mail:                    info@cretaprint.com

 

Trade Risk

Credit appraisal:                       Caution suggested 

Incidents:                                 NO

R.A.I.:                                       NO

EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of Payment:  NO

 

Financial Information

Balance sheet latest sales (2012):         770.185,09 € (Mercantile Register)

Result:                                                 -1.262.649,19 €

Total Assets:                                        38.295.310,91 €

Share capital:                                       3.005,06 €

Employees:                                          209

Listed on a Stock Exchange:                NO

  

Commercial Information

Incorporation date:                               21/01/2000

Activity:                                                Wholesale of machinery, office materials

NACE 2009 CODE:                                4666

International Operations:                      No business relationships registered

 

Corporate Structure

Administrator: 

 MALLOZZI, FRANK

Parent Company: 

 ELECTRONICS FOR IMAGING LUXEMBOURG SARL

Participations:  2

 

Other Complementary Information

Latest filed accounts in the Mercantile Register: 2012

Latest act published in BORME:  23/01/2013 Change of registered address

Latest press article:  24/09/2012 LA GACETA (LEGAL ANNOUNCEMENTS)

Bank Entities:  There are

 

Rating Explanation

Financial situation

The company’s financial situation is very unfavourable.

The company’s financial situation evolution has been stable.

Company Structure

The company’s capitalization degree determines that its structure is normal.

The company’s size is  very small 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

09/01/2013

  Reduction

3

New financial statements have been uploaded.

 

30/11/2012

  Reduction

12

There has been a change in the formula version.

 

18/09/2012

  Increase

15

New financial statements have been uploaded.

 

07/08/2012

  Increase

13

New information has been loaded on our systems.

 

22/06/2012

  Reduction

12

New information has been loaded on our systems.

 

 

 

INCIDENTS

  

Summary

 

LEGAL ACTIONS: No legal actions registered

ADMINISTRATIVE CLAIMS: No administrative claims registered

AFFECTED BY: No significant element.

EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF PAYMENT

  

 

R.A.I.

  

COMPANY NOT REGISTERED IN THE R.A.I.

This company is not registered in the Disputed Bills register (R.A.I.)

 

DATE AND TIME OF THE CONSULTATION

24/01/2013 11:01:37

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

  

Balance-sheet analysis

Figures given in €

 

31/07/2012

(7)

BALANCE SHEET

 

%

ASSETS

 

31/12/2011

(12)

BALANCE SHEET

 

%

ASSETS

 

31/12/2010

(12)

BALANCE SHEET

 

%

ASSETS

 

ASSETS

 

 

 

 

 

 

A) NON CURRENT ASSETS

38.249.136,45

99,88

2.284,37

0,46

 

 

B) CURRENT ASSETS

46.174,46

0,12

497.258,09

99,54

447.645,76

100,00

LIABILITIES

 

 

 

 

 

 

A) NET WORTH

-930.191,81

-2,43

330.742,38

66,21

293.239,49

65,51

B) NON CURRENT LIABILITIES

7.136.607,09

18,64

 

 

 

 

C) CURRENT LIABILITIES

32.088.895,63

83,79

168.800,08

33,79

154.406,27

34,49

 

Profit and loss account analysis

Figures given in €

 

31/07/2012

(7)

BALANCE SHEET

 

% NET TURNOVER

 

31/12/2011

(12)

BALANCE SHEET

 

% NET TURNOVER

 

31/12/2010

(12)

BALANCE SHEET

 

% NET TURNOVER

 

SALES

770.185,09

 

1.187.980,29

 

984.773,52

 

GROSS MARGIN

770.185,09

100,00

1.187.980,29

100,00

984.773,52

100,00

EBITDA

-426.563,42

-55,38

2.804,49

0,24

33.857,54

3,44

EBIT

-428.086,34

-55,58

2.804,49

0,24

33.715,04

3,42

NET RESULT

-1.262.649,19

-163,94

-5.384,17

-0,45

11.827,70

1,20

EFFECTIVE TAX RATE (%)

 

 

129,28

0,01

55,15

0,01

 

COMPARATIVE SECTOR ANALYSIS

 

 Values table

Figures expressed in %

 

COMPANY

(2012)

 

SECTOR

DIFFERENCE

 

 

 

 

BALANCE SHEET ANALYSIS: % on the total assets

 

 

 

 

 

 

 

ASSETS

 

 

 

 

A) NON CURRENT ASSETS

99,88

32,25

67,63

 

 

 

 

A) CURRENT ASSETS

0,12

67,75

-67,63

 

 

 

 

LIABILITIES

 

 

 

 

A) NET WORTH

-2,43

43,74

-46,17

 

 

 

 

B) NON CURRENT LIABILITIES

18,64

14,88

3,76

 

 

 

 

C) CURRENT LIABILITIES

83,79

41,38

42,41

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPANY

(2012)

 

SECTOR

DIFFERENCE

 

 

 

 

PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income

 

 

 

 

 

 

 

SALES

100,00

98,68

1,32

 

 

 

 

GROSS MARGIN

100,00

41,28

58,72

 

 

 

 

EBITDA

-55,38

4,48

-59,86

 

 

 

 

EBIT

-55,58

2,47

-58,05

 

 

 

 

NET RESULT

-163,94

1,50

-165,44

 

 

 

 

 

Sector Composition

Compared sector (NACE 2009): 4666

Number of companies: 416

Size (sales figure): 0 - 2,800,000.00 Euros

OTHER DATA FROM THE ANNUAL FINANCIAL REPORT

  

Results Distribution

Source: annual financial report 2012

Figures given in €

DISTRIBUTION BASE

APPLICATION A

Profit and Loss Account Balance

-1.262.649,19

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

-1.262.649,19

Dividends

0,00

 

 

Carry over and others

0,00

 

 

Compensation of previous exercises losses

-1.262.649,19

 

 

Application total

-1.262.649,19

 

Facts subsequent to the closing

Source: Annual financial report 2012

Con fecha 10 de agosto de 2012 se depositó el documento de Proyecto de Fusión entre la Sociedad (entidad absorbente) y la filial Creta Print, S.L. (entidad absorbida) nota 6.

 

 

ADDRESSES

  

 Business address

Current Legal Seat Address: 

CARRETERA NACIONAL 340 (KM 970. POL IND RAMONET)

12550 ALMAZORA  CASTELLÓN

Previous Seat Address: 

CALLE JOSE ABASCAL 56 - 2 PLT

28003 MADRID

  

Branches

STREET

POSTAL CODE

TOWN

PROVINCE

CALLE SIERRA DE IRTA (PG IND RDA SUR, NAVE 28)

12006

CASTELLON PLANA/CASTELLO PLANA

Castellón

 

 

CORPORATE STRUCTURE

  

ADMINISTRATIVE LINKS

  

Summary

 

 

 

 

Distribution of the administration board

 

Governing body : 2 members (latest change: 11/12/2000)

Other Positions : 15 (latest change: 30/11/2012)

Non-current positions : 13 (latest change: 27/07/2011)

 

 

  Men (100%)

 

 

Main Board members, Directors and Auditor

Governing body

POSITION

NAME AND SURNAME

DATE 

APPOINTMENT

ADMINISTRATOR

MALLOZZI, FRANK

11/12/2000

ADMINISTRATOR

ROSENZWEIG FRED

11/12/2000

 

 

 

Board members remuneration

       Source: Annual financial report 2012

        Board members remuneration: 0,00 €

 

 

FINANCIAL LINKS

 

 Direct Shareholders

 

BUSINESS NAME

TAX NUMBER/COUNTRY

%

SOURCE

DATE REP.

 

ELECTRONICS FOR IMAGING LUXEMBOURG SARL

LUXEMBOURG

100,00

OWN SOURCES

24/01/2013

 

Former Shareholders

 

BUSINESS NAME

TAX NUMBER/COUNTRY

%

SOURCE

DATE REP.

 

ELECTRONICS IMAGING INVESTMENTS BV

NETHERLANDS

100,00

B.O.R.M.E.

30/11/2006

 

ELECTRONICS FOR IMAGING INC

 

100,00

B.O.R.M.E.

24/11/2003

 

Direct Participations

 

BUSINESS NAME

TAX NUMBER/COUNTRY

%

SOURCE

DATE REP.

 

EFI-CRETAPRINT DEVELOPMENT SL

B12896171

100,00

B.O.R.M.E.

10/12/2012

 

CRETAPRINT MEXICO SOCIEDAD DE RESPONSABILIDAD LIMITADA DE CAPITAL VARIABLE

MEXICO

99,00

B.O.R.M.E.

27/12/2012

 

Former Participations

 

BUSINESS NAME

TAX NUMBER/COUNTRY

%

SOURCE

DATE REP.

 

CRETA PRINT SL (EXTINGUIDA)

B96668140

100,00

B.O.R.M.E.

27/12/2012

Company with rating inferior to 7

POTENTIAL LINKS

 

 

Search by similar name

Search Criterion: ”EFI CRETAPRINT”

COMPANY FOUND

PROVINCE

EFI-CRETAPRINT DEVELOPMENT SL

CASTELLON

 

 

Name Search in the Internet

Search Criterion: ”EFI CRETAPRINT”

URL: www.cretaprint.com

Home | EFI Cretaprint  EFI Cretaprint gana el litigio de patentes presentado por el presidente de Kerajet. 22/01/2013. Electronics For Imaging, Inc. (Nasdaq: EFII), líder mundial en ...

URL: www.youtube.com

EFI Cretaprint C3 Multipurpose Digital Ceramic Decoration Printer ...  Sep 24, 2012 ... The Cretaprint C3 features a single chassis able to accommodate up to eight print bars, which can be independently configured for printing and ...

URL: ir.efi.com

EFI Acquires Cretaprint, Expands Inkjet Focus to Ceramic Tile Printing  Jan 10, 2012 ... EFI Acquires Cretaprint, Expands Inkjet Focus to Ceramic Tile Printing ... has acquired privately-held Cretaprint S.L. based in Castellón, Spain, ...

 

 

BUSINESS INFORMATION

  

 Constitution

Incorporation date: 21/01/2000

 

Activity

Code: 1617800

Activity: Wholesale of machinery, office materials

NACE 2009 CODE: 4666

NACE 2009 Activity: Wholesale of other office machinery and equipment

Business: LA DISTRIBUCION, VENTA, COMPRA Y PROMOCION PARA LA VENTA DE CUALQUIER TIPO DE SOFTWARE HARDWARE O CUALQUIER OTRO TIPO DE MATERIAL INFORMATICO.

Activity description: LA DISTRIBUCION, VENTA, COMPRA Y PROMOCION PARA LA VENTA DE MAQUINARIA DE IMPRESION DIGITAL INDUSTRIAL, CUALQUIER TIPO DE SOFTWARE HARDWARE O CUALQUIER OTRO TIPO DE MATERIAL INFORMATICO.

 

 

Employees

 

Latest employees figure: 209 (2012)

% of fixed employees: 100,00%

 

Employees evolution

 

 

 

 

Employees distribution

Source: Annual financial report 2011

CATEGORY

AVERAGE NUMBER OF EMPLOYEES

MEN

WOMEN

Support intellectuals and scientists, technicians and professionals

4

 

 

Sales representatives and similar

5

 

 

 

 Sales breakdown

Los ingresos de la Sociedad corresponden a comisiones devengadas sobre la venta de productos del Grupo Electronics for Imaging Inc. - Electronics for Imaging B.V. o Electronics for Imaging Inc

 

Professional and advertising services

Source: Annual financial report 2012

Professional services expenses: 12.344,00 €

 

Banks

ENTITY

BRANCH

ADDRESS

TOWN OR CITY

PROVINCE

BANCO DE SABADELL, S.A.

5181

C RUIZ ZORRILLA 000039

CASTELLON PLANA/CASTELLO PLANA

Castellón

DEUTSCHE BANK, S.A.E.

 

 

 

 

BANKIA, S.A.

 

 

MADRID

 

 

 Bank References

The bank entity with which it currently operates refuses to provide any kind of information.

 

Brands

FORMER NAMES: 

ELECTRONICS FOR IMAGING ESPAŃA SL

 

 

LEGAL STRUCTURE

   

Constitution Data

Register Date: 21/01/2000

Register town: Madrid

Announcement number: 121428

Share capital: 3.005,06 €

 

Current structure data

Legal form: Sole-partnered Limited Liability Company

Share capital: 3.005,06 €

 

 Legal Aspects

Obligation to fill in Financial Statements: YES

Chamber census: YES (2011)

B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)

 

 Summary

  Acts on activity: 0

  Acts on administrators: 15 (Last: 11/12/2012, first: 28/03/2000)

  Acts on capital: 0

  Acts on creation: 1 (Last: 28/03/2000)

  Acts on filed accounts: 11 (Last: 27/05/2011, first: 14/01/2002)

  Acts on identification: 5 (Last: 23/01/2013, first: 15/12/2006)

  Acts on Information: 6 (Last: 23/01/2013, first: 28/03/2000)

  Acts on proceedings: 4 (Last: 27/12/2012, first: 10/08/2012)

 

Latest acts in B.O.R.M.E.

 

Most relevant acts of the last twelve months

 

ACT

DATE

NOTICE NUM.

MERCANTILE REGISTER

Change of registered address

23/01/2013

33113

Castellón

 

New business address:

CARRETERA NACIONAL 340 (KM 970. POL IND RAMONET)

12550 - ALMAZORA - Castellón

Register Data:  Volume 1611, Book 1173, Folio 11, Section 8, Sheet 34979, Inscription I/A 2 (16/01/2013)

 Publication Data:  Register Castellón, Gazette 15, Page  3442, Announcement 33113 (23/01/2013)

 

Change of business name

23/01/2013

33113

Castellón

 

New business name: EFI CRETAPRINT SL.

Register Data:  Volume 1611, Book 1173, Folio 11, Section 8, Sheet 34979, Inscription I/A 2 (16/01/2013)

 Publication Data:  Register Castellón, Gazette 15, Page  3442, Announcement 33113 (23/01/2013)

 

Takeover merger

27/12/2012

539965

Madrid

 

Absorbed companies:

CRETA PRINT SL

Register Data:  Volume 29396, Folio 83, Section 8, Sheet 252459, Inscription I/A 18 (18/12/2012)

 Publication Data:  Register Madrid, Gazette 247, Page  58303, Announcement 539965 (27/12/2012)

 

Company’s mergers and takeovers

24/09/2012

25631

 

 

Anuncio de fusión por absorción.  

 

De conformidad con lo previsto en el artículo 43 de la Ley 3/2009, de 3 de abril, sobre Modificaciones Estructurales de las Sociedades Mercantiles (en adelante, “LME”), se hace público que, con fecha 20 de septiembre de 2012, el socio único de la sociedad “Electronics For Imaging Espańa, Sociedad Limitada (Sociedad Unipersonal)” y el socio único de la sociedad “Creta Print, Sociedad Limitada (Sociedad Unipersonal)” han aprobado la fusión por absorción de “Creta Print, Sociedad Limitada (Sociedad Unipersonal)” -sociedad absorbida-a favor de “Electronics For Imaging Espańa, Sociedad Limitada (Sociedad Unipersonal)” -sociedad absorbente-, según el régimen establecido en el artículo 49 de la LME, en la medida en que la sociedad absorbida está directa e íntegramente participada por la sociedad absorbente.  

 

La operación descrita ha supuesto la transmisión en bloque del patrimonio social de la sociedad absorbida a la sociedad absorbente, la cual adquirirá por sucesión universal todos los elementos del Activo y Pasivo, así como los derechos y obligaciones de aquélla.  

 

Se hace constar expresamente que los socios únicos de las sociedades intervinientes en la operación y sus acreedores tienen derecho a obtener de manera gratuita el texto íntegro de las decisiones adoptadas, así como los Balances de fusión de las sociedades intervinientes.  

 

Asimismo, se hace constar que los acreedores de las sociedades que se fusionan podrán oponerse a la fusión en el plazo y término previstos en el artículo 44 de la LME.  

 

Madrid, 21 de septiembre de 2012.-El Administrador solidario de “Electronics for Imaging Espańa, Sociedad Limitada (Sociedad Unipersonal)”, don Frank Mallozzi. El Administrador solidario de “Creta Print, Sociedad Limitada (Sociedad Unipersonal)”, don Bryan Seuk Ko. 

Register Data:  Inscription ID: A120065458- 1

 Publication Data:  Gazette 184, Page  27689, Announcement 25631 (24/09/2012)

 

Takeover merger project filing

14/08/2012

20993

Castellón

 

Filed Accounts date: 01/08/2012

Absorbed companies:

CRETA PRINT SL.

Publication Data:  Register Castellón, Gazette 155, Page  37369, Announcement 20993 (14/08/2012)

 

Other acts

ACT

DATE

NOTICE NUM.

MERCANTILE REGISTER

Modification of the Articles of Association

23/01/2013

33113

Castellón

Modification of the Articles of Association

27/12/2012

539965

Madrid

Appointments

11/12/2012

512704

Madrid

Modification of the Articles of Association

27/08/2012

355621

Madrid

Appointments

27/08/2012

355620

Madrid

 

 

PRESS ARTICLES

  

Press summary by type of information (last five years)

Legal notices: 2 (Last: 24/09/2012, first: 28/06/2010)

Structural Data: 0

Informative data: 0

Financial Information: 0

Negative information: 0

Business lines: 0

Historical press releases: 0

 

Latest press article published

 24/09/2012 LA GACETA (Page 20) LEGAL ANNOUNCEMENTS

Unique partners societies ELECTRONICS FOR IMAGING SPAIN, SL proprietorship (absorbing company) and PRINT CRETE, SL proprietorship (merged company) company directly and wholly owned by the Absorbent 20/09/12 agreed the merger of both companies.

 

 28/06/2010 LA GACETA (Page 25) LEGAL ANNOUNCEMENTS

The Ordinary General Meeting of the Sdad., On 3/22/10, agreed to move the headquarters to 28010 Madrid, Fuencarral Street, # 119, 2nd A. 

 

Complementary Information

 

Current situation

According to research dated 16/11/2012, the owner continuously since early November 2012 PRINT activity CRETE SL, NIF: B96668140.

 

Financial Information

The stock closed at 31/12/2010 (Tank 2010) is available at INFORMS, but there is data in the new financial statements presented incorrectly.
The stock closed at 31/12/2009 (Tank 2010) is available at INFORMS, but there is data in the new financial statements presented incorrectly. 

 

FINANCIAL INFORMATION

  

The information on the last Individual Filed Accounts contained in this report is extracted from the Mercantile Register file of the legal address of the Company and dated 09/01/2013.

SITUATION BALANCE-SHEET

 

 

Assets

 

Figures given in €

 

31/07/2012

(7)

 

%

ASSETS

 

31/12/2011

(12)

 

%

ASSETS

 

31/12/2010

(12)

 

%

ASSETS

 

A) NON CURRENT ASSETS

38.249.136,45

99,88

2.284,37

0,46

 

 

I. Intangible assets

 

 

 

 

 

 

II. Tangible fixed assets

761,45

0,00

2.284,37

0,46

 

 

III. Real-estate investments

 

 

 

 

 

 

IV. Long term investments in associated and affiliated companies

38.248.375,00

99,88

 

 

 

 

V. Long Term Financial Investments

 

 

 

 

 

 

VI. Assets by deferred taxes

 

 

 

 

 

 

VII. Non current commercial debts

 

 

 

 

 

 

B) CURRENT ASSETS

46.174,46

0,12

497.258,09

99,54

447.645,76

100,00

I. Non-current assets maintained for sale

 

 

 

 

 

 

II. Stocks

 

 

 

 

 

 

III. Trade Debtors and other receivable accounts

11.707,52

0,03

278.671,88

55,79

186.597,19

41,68

3. Other debtors

11.707,52

0,03

278.671,88

55,79

186.597,19

41,68

IV. Short term investments in associated and affiliated companies

 

 

 

 

 

 

V. Short term financial investments

 

 

 

 

 

 

VI. Short term periodifications

 

 

17.164,09

3,44

51.863,52

11,59

VII. Cash and equivalents

34.466,94

0,09

201.422,12

40,32

209.185,05

46,73

TOTAL ASSETS (A + B)

38.295.310,91

100,00

499.542,46

100,00

447.645,76

100,00

 

Net Worth and Liabilities

Figures given in €

 

31/07/2012

(7)

 

%

ASSETS

 

31/12/2011

(12)

 

%

ASSETS

 

31/12/2010

(12)

 

%

ASSETS

 

A) NET WORTH

-930.191,81

-2,43

330.742,38

66,21

293.239,49

65,51

A-1) Equity

-930.191,81

-2,43

330.742,38

66,21

293.239,49

65,51

I. Capital

3.005,06

0,01

3.005,06

0,60

3.005,06

0,67

1. Authorized capital

3.005,06

0,01

3.005,06

0,60

3.005,06

0,67

II. Issue premium

 

 

 

 

 

 

III. Reserves

217.335,27

0,57

301,00

0,06

301,00

0,07

IV. (Net worth own shares and participations)

 

 

 

 

 

 

V. Results from previous years

 

 

222.418,44

44,52

267.020,97

59,65

VI. Other loans from partners

112.117,05

0,29

110.402,05

22,10

11.084,76

2,48

VII. Exercise Result

-1.262.649,19

-3,30

-5.384,17

-1,08

11.827,70

2,64

VIII. (Interim dividend)

 

 

 

 

 

 

IX. Other net worth instruments

 

 

 

 

 

 

A-2) Value changes adjustments

 

 

 

 

 

 

A-3) Received legacies, grants and subventions

 

 

 

 

 

 

B) NON CURRENT LIABILITIES

7.136.607,09

18,64

 

 

 

 

I. Long term provisions

7.136.607,09

18,64

 

 

 

 

II. Long term debts

 

 

 

 

 

 

III. Long term debts with associated and affiliated companies

 

 

 

 

 

 

IV. Liabilities by deferred taxes

 

 

 

 

 

 

V. Long term periodifications

 

 

 

 

 

 

VI. Non current trade creditors

 

 

 

 

 

 

VII. Long term debts with special characteristics

 

 

 

 

 

 

C) CURRENT LIABILITIES

32.088.895,63

83,79

168.800,08

33,79

154.406,27

34,49

I. Liabilities related with non-current assets maintained for sale

 

 

 

 

 

 

II. Short term provisions

7.493.437,44

19,57

 

 

 

 

III. Short term debts

 

 

 

 

 

 

IV. Short term debts with associated and affiliated companies

24.443.212,85

63,83

 

 

 

 

V. Trade creditors and other payable accounts

152.245,34

0,40

168.800,08

33,79

154.406,27

34,49

2. Other creditors

152.245,34

0,40

168.800,08

33,79

154.406,27

34,49

VI. Short term periodifications

 

 

 

 

 

 

VII. Short term debts with special characteristics

 

 

 

 

 

 

TOTAL NET WORTH AND LIABILITIES (A + B + C)

38.295.310,91

100,00

499.542,46

100,00

447.645,76

100,00

 

PROFIT AND LOSS ACCOUNT

 

Figures given in €

 

31/07/2012

(7)

 

%OPERATING

INCOME

 

31/12/2011

(12)

 

%OPERATING

INCOME

 

31/12/2010

(12)

 

%OPERATING

INCOME

 

1. Net Turnover

770.185,09

100,00

1.187.980,29

100,00

984.773,52

100,00

2. Variation in stocks of finished goods and work in progress

 

 

 

 

 

 

3. Works for its own assets

 

 

 

 

 

 

4. Supplies

 

 

 

 

 

 

5. Other operating income

 

 

 

 

 

 

6. Labour cost

-523.314,41

-67,95

-828.886,42

-69,77

-656.835,49

-66,70

7. Other operating costs

-673.434,10

-87,44

-356.289,38

-29,99

-294.080,49

-29,86

8. Amortization of fixed assets

-1.522,92

-0,20

 

 

-142,50

-0,01

9. Allocation of subventions on non financial investments and other

 

 

 

 

 

 

10. Provisions excess

 

 

 

 

 

 

11. Deterioration and result for fixed assets disposal

 

 

 

 

 

 

12. Negative difference of business combinations

 

 

 

 

 

 

13. Other results

 

 

 

 

 

 

A) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13)

-428.086,34

-55,58

2.804,49

0,24

33.715,04

3,42

14. Financial income

 

 

1.905,11

0,16

 

 

b) Other financial income

 

 

1.905,11

0,16

 

 

15. Financial expenses

-835.499,67

-108,48

 

 

 

 

16. Reasonable value variation on financial instruments

 

 

 

 

 

 

17. Exchange differences

936,82

0,12

13.680,50

1,15

-7.343,61

-0,75

18. Deterioration and result for disposal of financial instruments

 

 

 

 

 

 

19. Other financial income and expenses

 

 

 

 

 

 

B) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19)

-834.562,85

-108,36

15.585,61

1,31

-7.343,61

-0,75

C) RESULT BEFORE TAXES (A + B)

-1.262.649,19

-163,94

18.390,10

1,55

26.371,43

2,68

20. Taxes on profits

 

 

-23.774,27

-2,00

-14.543,73

-1,48

D) EXERCISE RESULT (C + 20)

-1.262.649,19

-163,94

-5.384,17

-0,45

11.827,70

1,20

NET WORTH CHANGES STATUS

 

 

Status of recognized income and expenses

Figures given in €

NET WORTH CHANGES (1/3)

31/07/2012

(7)

 

31/12/2011

(12)

 

31/12/2010

(12)

 

A) PROFIT AND LOSS ACCOUNT RESULT

-1.262.649,19

-5.384,17

11.827,70

INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH

 

 

 

I. For valuation of financial instruments

 

 

 

II. Cash flow coverage

 

 

 

III. Received legacies, grants and subventions

 

 

 

IV. For actuarial profits and losses and other adjustments

 

 

 

V. Non-current assets and related liabilities, maintained for sale

 

 

 

VI. Conversion differences

 

 

 

VII. Tax effect

 

 

 

B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II + III + IV +V+VI+VII)

 

 

 

PROFIT AND LOSS ACCOUNT TRANSFERS

 

 

 

VIII. For valuation of financial instruments

 

 

 

IX. Cash flow coverage

 

 

 

X. Received legacies, grants and subventions

 

 

 

XI. Non-current assets and related liabilities, maintained for sale

 

 

 

XII. Conversion differences

 

 

 

XIII. Tax effect

 

 

 

C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+ XII+ XIII)

 

 

 

TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C)

-1.262.649,19

-5.384,17

11.827,70

 

Total net worth changes status

Figures given in €

NET WORTH CHANGES ( 2 /3)

AUTHORIZED CAPITAL

RESERVES

RESULTS FROM PREVIOUS EXERCISES

OTHER LOANS FROM PARTNERS

FINAL ACCOUNT BALANCE OF EXERCISE (2009)

3.005,06

230.183,38

 

6.923,91

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)

3.005,06

230.183,38

 

6.923,91

I. Total recognized income and expenses

 

 

 

 

II. Operations with partners or owners

 

 

 

4.160,85

3. Other operations with partners or owners

 

 

 

4.160,85

III. Other net worth variations

 

37.138,59

 

 

FINAL ACCOUNT BALANCE OF EXERCISE (2010)

3.005,06

301,00

210.891,74

67.514,99

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)

3.005,06

301,00

210.891,74

67.514,99

I. Total recognized income and expenses

 

 

 

 

II. Operations with partners or owners

 

 

 

42.887,06

3. Other operations with partners or owners

 

 

 

42.887,06

III. Other net worth variations

 

 

11.526,70

 

FINAL ACCOUNT BALANCE OF EXERCISE (2011)

3.005,06

222.719,44

 

110.402,05

I. Adjustments by change of criteria in the exercise (2011)

 

 

 

 

II. Adjustments by errors in the exercise (2011)

 

 

 

 

ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2012)

3.005,06

222.719,44

 

110.402,05

I. Total recognized income and expenses

 

 

 

 

II. Operations with partners or owners

 

 

 

1.715,00

3. Other operations with partners or owners

 

 

 

1.715,00

III. Other net worth variations

 

-5.384,17

 

 

FINAL ACCOUNT BALANCE OF EXERCISE (2012)

3.005,06

217.335,27

 

112.117,05

NET WORTH CHANGES ( 3 /3)

EXERCISE RESULT

TOTAL

 

FINAL ACCOUNT BALANCE OF EXERCISE (2009)

37.138,59

277.250,94

 

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)

37.138,59

277.250,94

 

I. Total recognized income and expenses

11.827,70

11.827,70

 

II. Operations with partners or owners

 

4.160,85

 

3. Other operations with partners or owners

 

4.160,85

 

III. Other net worth variations

-37.138,59

 

 

FINAL ACCOUNT BALANCE OF EXERCISE (2010)

11.827,70

293.540,49

 

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)

11.827,70

293.540,49

 

I. Total recognized income and expenses

-5.384,17

-5.384,17

 

II. Operations with partners or owners

 

42.887,06

 

3. Other operations with partners or owners

 

42.887,06

 

III. Other net worth variations

-11.827,70

-301,00

 

FINAL ACCOUNT BALANCE OF EXERCISE (2011)

-5.384,17

330.742,38

 

I. Adjustments by change of criteria in the exercise (2011)

 

 

 

II. Adjustments by errors in the exercise (2011)

 

 

 

ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2012)

-5.384,17

330.742,38

 

I. Total recognized income and expenses

-1.262.649,19

-1.262.649,19

 

II. Operations with partners or owners

 

1.715,00

 

3. Other operations with partners or owners

 

1.715,00

 

III. Other net worth variations

5.384,17

 

 

FINAL ACCOUNT BALANCE OF EXERCISE (2012)

-1.262.649,19

-930.191,81

 

 

RATIOS

 

31/07/2012

(7)

 

CHANGE %

31/12/2011

(12)

 

CHANGE %

31/12/2010

(12)

 

BALANCE RATIOS

Working Capital (€)

-32.042.721,17

-9.855,50

328.458,01

12,01

293.239,49

Working capital ratio

-0,84

-227,27

0,66

0,00

0,66

Soundness Ratio

-0,02

-100,01

144,78

 

 

Average Collection Period (days)

5

-93,62

85

24,34

68

Average Payment Period (days)

13.148

7.605,06

171

-9,71

189

LIQUIDITY RATIOS

Current Ratio (%)

0,14

-99,95

294,58

1,61

289,91

Quick Ratio (%)

0,11

-99,91

119,33

-11,92

135,48

DEBT RATIOS

Borrowing percentage (%)

63,83

 

 

 

 

External Financing Average Cost

0,03

 

 

 

 

Debt Service Coverage

-19,38

 

 

 

 

Interest Coverage

-0,51

 

 

 

 

GENERAL AND ACTIVITIES RATIOS

Auto financing generated by sales (%)

-163,74

-36.286,67

-0,45

-136,89

1,22

Auto financing generated by Assets (%)

-3,29

-204,63

-1,08

-140,45

2,67

Breakdown Point

0,64

-36,00

1,00

-2,91

1,04

Average Sales Volume per Employee

70.016,83

-46,96

131.997,81

7,23

123.096,69

Average Cost per Employee

47.574,04

-48,34

92.098,49

12,17

82.104,44

Assets Turnover

0,02

-99,16

2,38

8,18

2,20

RESULTS RATIOS

Return on Assets (ROA) (%)

-1,12

-300,00

0,56

-92,56

7,53

Operating Profitability (%)

-1,11

-298,21

0,56

-92,59

7,56

Return on Equity (ROE) (%)

135,74

2.341,37

5,56

-38,15

8,99

SECTORIAL ANALYSIS

 

 Balance Sheet and Financial Balance

Figures expressed in %

 

COMPANY

(2012)

 

SECTOR

DIFFERENCE

BALANCE SHEET ANALYSIS: % on the total assets

 

 

 

ASSETS

A) NON CURRENT ASSETS

99,88

32,25

67,63

A) CURRENT ASSETS

0,12

67,75

-67,63

LIABILITIES

A) NET WORTH

-2,43

43,74

-46,17

B) NON CURRENT LIABILITIES

18,64

14,88

3,76

C) CURRENT LIABILITIES

83,79

41,38

42,41

 

 

 

 

 

Results Analytical Account

Figures given in  %

 

COMPANY

(2012)

 

SECTOR

 

DIFFERENCE

 

Net Turnover

100,00

98,68

1,32

Other operating income

 

1,32

 

OPERATING INCOME

100,00

100,00

0,00

Supplies

 

-58,97

 

Variation in stocks of finished goods and work in progress

 

0,25

 

GROSS MARGIN

100,00

41,28

58,72

Other operating costs

-87,44

-13,42

-74,02

Labour cost

-67,95

-23,60

-44,35

GROSS OPERATING RESULT

-55,38

4,26

-59,64

Amortization of fixed assets

-0,20

-2,12

1,92

Deterioration and result for fixed assets disposal

 

0,10

 

Other expenses / income

 

0,24

 

NET OPERATING RESULT

-55,58

2,47

-58,05

Financial result

-108,36

-0,51

-107,85

RESULT BEFORE TAX

-163,94

1,97

-165,91

Taxes on profits

 

-0,47

 

RESULT COMING FROM CONTINUED OPERATIONS

-163,94

1,50

-165,44

Exercise result coming from discontinued operations net of taxes

 

0,00

 

NET RESULT

-163,94

1,50

-165,44

Amortization of fixed assets

-0,20

-2,12

1,92

Deterioration and provisions variation

 

0,11

 

 

-163,74

3,51

-167,25

 

Main Ratios

Figures given in €

 

COMPANY

(2012)

 

PTILE25

 

PTILE50

 

PTILE75

 

BALANCE RATIOS

 

 

 

 

Working Capital (€)

-32.042.721,17

20.057,68

86.758,77

235.148,73

Working capital ratio

-0,84

0,09

0,26

0,45

Soundness Ratio

-0,02

0,75

1,67

4,80

Average Collection Period (days)

5

37

67

103

Average Payment Period (days)

13.148

61

99

144

LIQUIDITY RATIOS

 

 

 

 

Current Ratio (%)

0,14

116,39

156,59

252,59

Quick Ratio (%)

0,11

9,44

27,38

79,83

DEBT RATIOS

 

 

 

 

Borrowing percentage (%)

63,83

3,68

21,18

42,22

External Financing Average Cost

0,03

0,02

0,04

0,08

Debt Service Coverage

-19,38

0,00

1,82

8,76

Interest Coverage

-0,51

1,08

2,29

7,69

GENERAL AND ACTIVITIES RATIOS

 

 

 

 

Auto financing generated by sales (%)

-163,74

0,87

2,52

5,45

Auto financing generated by Assets (%)

-3,29

1,40

3,82

7,97

Breakdown Point

0,64

1,00

1,02

1,05

Average Sales Volume per Employee

70.016,83

80.998,09

121.918,93

182.118,63

Average Cost per Employee

47.574,04

20.950,09

26.952,87

34.197,05

Assets Turnover

0,02

0,96

1,52

2,25

Inventory Turnover (days)

0

22

65

149

RESULTS RATIOS

 

 

 

 

Return on Assets (ROA) (%)

-1,12

0,66

3,18

7,08

Operating Profitability (%)

-1,11

2,48

5,87

10,78

Return on Equity (ROE) (%)

135,74

0,70

5,67

18,22

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.89

UK Pound

1

Rs.84.92

Euro

1

Rs.72.51

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.