MIRA INFORM REPORT
|
Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACABADOS EUROPIEL SL |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
13.04.1994 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Leather industry |
|
|
|
|
No. of Employees : |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4%
in 2012. The economy has once again fallen into recession as deleveraging in
the private sector, fiscal consolidation, and continued high unemployment weigh
on domestic demand and investment, even as exports have shown signs of
resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0%
in 2012. The economic downturn has also hurt Spain's public finances. The
government budget deficit peaked at 11.2% of GDP in 2010 and the process to
reduce this imbalance has been slow despite the central government's efforts to
raise new tax revenue and cut spending. Spain reduced its budget deficit to
9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target
negotiated between Spain and the EU. Although Spain's large budget deficit and
poor economic growth prospects remain a source of concern for foreign
investors, the government's ongoing efforts to cut spending and introduce
flexibility into the labor markets are intended to assuage these concerns. The
government is also taking steps to shore up the banking system, namely by using
up to $130 billion in EU funds to recapitalize struggling banks exposed to the
collapsed domestic construction and real estate sectors
Source
: CIA
COMPANY NAME
ACABADOS EUROPIEL SL
CIF/NIF: B03934841
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: ACABADOS EUROPIEL SL
Other names: NO
Current Address: CALLE PORTUGAL, 3 - PARC.
74
Telephone number: 965382199 Fax: 965397936
URL: www.inescop.es
Corporate e-mail: europiel@europiel.com
Trade Risk
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Latest sales known (2012): 2.900.000,00
(Estimated)
Balance sheet latest sales (2011): 2.328.940,77 (Mercantile Register)
Result: 48.694,56
Total Assets: 1.062.138,75
Share capital: 48.080,00
Employees: 14
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 13/04/1994
Activity: Leather industry
NACE 2009 CODE: 1511
International Operations: Imports and
Exports
Corporate Structure
Sole Administrator:
Other Complementary Information
Latest act published in BORME: 16/09/2011 Annual Filed Accounts
Bank Entities: There are
TRADE RISK
Financial situation
|
Exercise:2011 |
Evolution |
|||
|
Immediate
liquidity |
Acceptable |
|
|
|
|
Indebtedness |
Slight |
|
|
|
|
Profitability |
Sufficient |
|
|
|
|
Soundness |
Excellent |
|
|
|
Performance
|
Incidents |
None or Negligible |
|
Business
Trajectory |
Superior |
Rating Explanation
Financial situation
The companys financial situation is good.
The companys financial situation evolution has
been stable.
The sales evolution and results has
been positive.
Company Structure
The companys capitalization degree determines that
its structure is normal.
The companys size is 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 |
|
29/01/2013 |
Increase |
15 |
New information has been loaded on our systems. |
|
30/11/2012 |
Reduction |
14 |
There has been a change in the formula version. |
|
03/09/2012 |
Equal |
16 |
New financial statements have been uploaded. |
|
14/10/2011 |
Equal |
16 |
New financial statements have been uploaded. |
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered.
AFFECTED BY: No significant element.
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
03/07/2013 08:07:58
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
||
|
ASSETS |
|
|
|
|
|
|
||
|
A) NON CURRENT ASSETS |
214.624,89 |
20,21 |
229.965,30 |
28,04 |
269.324,73 |
32,14 |
||
|
B) CURRENT ASSETS |
847.513,86 |
79,79 |
590.050,16 |
71,96 |
568.741,05 |
67,86 |
||
|
LIABILITIES |
|
|
|
|
|
|
||
|
A) NET WORTH |
481.472,52 |
45,33 |
432.777,96 |
52,78 |
394.016,94 |
47,02 |
||
|
B) NON CURRENT LIABILITIES |
|
|
|
|
4.393,79 |
0,52 |
||
|
C) CURRENT LIABILITIES |
580.666,23 |
54,67 |
387.237,50 |
47,22 |
439.655,05 |
52,46 |
||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
Balance Sheet
Comments
Total assets of the company grew in 29,53%
between 2.010 and 2.011.
In spite of the assets growth, non current assets decreased 6,67%.
This growth has been mainly financed with a debt increase
of 49,95%. Nevertheless Net Worth grew 11,25%.
Total assets of the company decreased in 2,15%
between 2.009 and 2.010.
This decrease has been greater in non current assets that reduced
in 14,61%.
Assets reduction contrasts with net worth growth
of 9,84%. Therefore, the companys indebtedness has reduced
in 12,79%.
Profit and loss account analysis
Figures given in
|
|
2012 |
31/12/2011 (12) |
% NET TURNOVER |
31/12/2010 (12) |
% NET TURNOVER |
|
SALES |
2.900.000,00 |
2.328.940,77 |
|
1.588.472,60 |
|
|
GROSS MARGIN |
|
752.879,49 |
32,33 |
559.447,17 |
35,22 |
|
EBITDA |
|
127.700,89 |
5,48 |
94.273,01 |
5,93 |
|
EBIT |
|
85.860,48 |
3,69 |
54.742,90 |
3,45 |
|
NET RESULT |
|
48.694,56 |
2,09 |
38.761,02 |
2,44 |
|
EFFECTIVE TAX RATE (%) |
|
20,00 |
0,00 |
20,00 |
0,00 |
Profit and Loss Account Comments
The companys sales figure grew
in 46,62% between 2.010 and 2.011.
The companys EBIT grew
in 56,84% between 2.010 and 2.011.
This evolution implies an increase in the companys economic
profitability .
The result of these variations is an increase of the companys Economic
Profitability of 4,52% in the analysed period, being equal
to 12,02% in the year 2.011.
The Net Result of the company grew
in 25,63% between 2.010 and 2.011.
The companys Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the companys Economic Profitability
of 12,86% in the analysed period, being equal to 12,64% in
the year 2.011 .
The companys sales figure grew
in 5,33% between 2.009 and 2.010.
The companys EBIT grew
in 9,85% between 2.009 and 2.010.
This evolution implies an increase in the companys economic
profitability .
The result of these variations is a decrease of the companys Operating
Profitability of 0,35% in the analysed period, being this
profitability of 11,50% in the year 2.010.
The Net Result of the company grew in 12,05% between 2.009 and 2.010.
The companys Financial Profitability has been positively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the companys Economic
Profitability of 2,10% in the analysed period, being equal
to 11,20% in the year 2.010 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
20,21 |
38,45 |
-18,24 |
|
A) CURRENT ASSETS |
79,79 |
61,55 |
18,24 |
|
LIABILITIES |
|||
|
A) NET WORTH |
45,33 |
44,81 |
0,52 |
|
B) NON CURRENT LIABILITIES |
|
17,99 |
|
|
C) CURRENT LIABILITIES |
54,67 |
37,20 |
17,47 |
|
|
|
|
|
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
100,00 |
99,22 |
0,78 |
|
GROSS MARGIN |
32,33 |
42,01 |
-9,68 |
|
EBITDA |
5,48 |
5,44 |
0,04 |
|
EBIT |
3,69 |
2,58 |
1,11 |
|
NET RESULT |
2,09 |
0,84 |
1,25 |
Sector Composition
Compared sector (NACE 2009): 1511
Number of companies: 103
Size (sales figure): 0 - 2,800,000.00 Euros
Comments on the sectorial comparative
Compared to its sector the assets of the companies show an
inferior proportion of non current assets. Specifically the difference with the
sector average is -18,24% .
In liabilities composition the company turns to on a wider scale to self
financing, being the proportion of Net Worth of 0,52% major. As a
consequence, external financing sources are less used by the company
( 0,52% less than the sector) .
The proportion that the sales mean to the companys total ordinary
income is 100,00% , an 0,78% higher than in the sector .
The companys EBIT was positive and was 3,69% with regard to
the total ordinary income, 1,11% superior to the one of the sector .
The companys capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,04 in comparison
with 0,03) .
The companys net result was positive and equal to 2,09% with
regard to the total ordinary income, 1,25% superior to the one of the
sector .
The financial results and the tax impact have had a less negative impact
on the net result of the company that in the sector .
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 |
38.761,02 |
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 |
38.761,02 |
|
Total of Amounts to be distributed |
38.761,02 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
38.761,02 |
ADDRESSES
Current Legal Seat Address:
CALLE PORTUGAL, 3 - PARC. 74
03600 ELDA ALICANTE
Previous Seat Address:
CALLE GRAN BRETANA 69
03600 ELDA
ALICANTE
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
19/10/2010)
Other Positions : 2 (latest change: 27/03/2002)
Operative Board Members : 5 (latest change: 23/05/2012)
Non-current positions : 2 (latest change: 19/10/2010)
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
SOLE ADMINISTRATOR |
ARACIL ANTON, JUAN ERNESTO |
19/10/2010 |
|
|
|
|
|
POSITION |
NAME AND SURNAME |
|
Manager |
ARACIL ANTON, JUAN ERNESTO |
|
Financial Manager |
ARACIL PAYA, JUAN |
|
Human Resources Director |
ARACIL PAYA, JUAN |
|
Commercial Director |
ROMERO PEINADO, ALFONSO |
|
Imports Director |
ROMERO PEINADO, ALFONSO |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
ROMERO PEINADO ALFONSO |
|
25,00 |
OWN SOURCES |
08/07/2013 |
|
|
ARACIL PAYA JUAN |
|
25,00 |
OWN SOURCES |
08/07/2013 |
|
|
ANTΣN LΣPEZ ANA MARΝA |
|
25,00 |
OWN SOURCES |
08/07/2013 |
|
|
GIL BAΡON LOURDES FΑTIMA |
|
25,00 |
OWN SOURCES |
08/07/2013 |
BUSINESS INFORMATION
Incorporation date: 13/04/1994
Activity beginning date: 25/04/1994
Establishment date: 01/01/1994
Founders Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Code: 1440000
Activity: Leather industry
NACE 2009 CODE: 1511
NACE 2009 Activity: Tanning and dressing of leather; dressing
and dyeing of fur
Business: PIELES.
Latest employees figure: 14 (2013)
% of fixed employees : 100,00%
% of men : 55,56%
% of women : 44,44%
Employees evolution
|
|
|
|
Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
5 |
4 |
PURCHASES
Imports from: U.E., NIGERIA, BANGLADESH, INDIA, PAKISTAN
SALES
Cash collections: 100%
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO SANTANDER, S.A. |
2697 |
CL SAGASTA 4-6 APDO. 00080 |
ELDA |
Alicante |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
5589 |
PADRE MANJON, 14 |
ELDA |
Alicante |
|
BANCO POPULAR ESPAΡOL, S.A. |
0040 |
JARDINES, 32 |
ELDA |
Alicante |
|
CAIXABANK, S.A. |
4058 |
C. GRAN AVENIDA, 48 |
ELDA |
Alicante |
|
BANCO DE SABADELL, S.A. |
|
|
ELDA |
|
LEGAL STRUCTURE
Constitution Data
Register Date: 25/04/1994
Register town: Alicante
Announcement number: 131878
Share capital: 48.080,97
Legal form: Limited Liability Company
Share capital: 48.080,00
Obligation to fill in Financial Statements: YES
Chamber census: YES (2011)
Acts on activity: 0
Acts on administrators: 9 (Last: 19/10/2010, first:
10/05/1994)
Acts on capital: 0
Acts on creation: 1 (Last: 10/05/1994)
Acts on filed accounts: 17 (Last: 16/09/2011, first:
04/09/1995)
Acts on identification: 1 (Last: 20/03/2001)
Acts on Information: 1 (Last: 20/04/1998)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Annual Filed Accounts (2010) |
16/09/2011 |
531779 |
Alicante |
|
Annual Filed Accounts (2009) |
13/12/2010 |
1136606 |
Alicante |
|
Appointments |
19/10/2010 |
385726 |
Alicante |
|
Resignations |
19/10/2010 |
385726 |
Alicante |
|
Resignations |
15/10/2010 |
382335 |
Alicante |
|
Annual Filed Accounts (2008) |
11/09/2009 |
395395 |
Alicante |
|
Annual Filed Accounts (2007) |
20/08/2008 |
283145 |
Alicante |
|
Annual Filed Accounts (2006) |
05/11/2007 |
946657 |
Alicante |
|
Annual Filed Accounts (2005) |
23/08/2006 |
243890 |
Alicante |
|
Annual Filed Accounts (2004) |
17/08/2005 |
221588 |
Alicante |
Complementary Information
Financial Information
The balance sheet as at 31/12/2008 (Tank 2008) is available, 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 03/09/2012.
SITUATION BALANCE-SHEET
Assets
Figures given in
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
214.624,89 |
20,21 |
229.965,30 |
28,04 |
269.324,73 |
32,14 |
|
I. Intangible assets |
|
|
|
|
|
|
|
II. Tangible fixed assets |
214.624,89 |
20,21 |
229.965,30 |
28,04 |
269.324,73 |
32,14 |
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
|
|
|
|
|
|
|
V. Long Term Financial Investments |
|
|
|
|
|
|
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
847.513,86 |
79,79 |
590.050,16 |
71,96 |
568.741,05 |
67,86 |
|
I. Stocks |
542.192,42 |
51,05 |
451.752,09 |
55,09 |
324.745,65 |
38,75 |
|
II. Trade Debtors and other receivable accounts |
173.786,44 |
16,36 |
79.644,37 |
9,71 |
122.908,87 |
14,67 |
|
1. Clients |
173.786,44 |
16,36 |
79.644,37 |
9,71 |
122.908,87 |
14,67 |
|
b) Clients for sales and short term services
rendering |
173.786,44 |
16,36 |
79.644,37 |
9,71 |
122.908,87 |
14,67 |
|
III. Short term investments in associated and affiliated companies |
|
|
|
|
|
|
|
IV. Short term financial investments |
7.711,02 |
0,73 |
298,51 |
0,04 |
|
|
|
V. Short term periodifications |
|
|
|
|
|
|
|
VI. Cash and equivalents |
123.823,98 |
11,66 |
58.355,19 |
7,12 |
121.086,53 |
14,45 |
|
TOTAL ASSETS (A + B) |
1.062.138,75 |
100,00 |
820.015,46 |
100,00 |
838.065,78 |
100,00 |
Assets
composition graphs
|
|
|
|
Assets composition per chapter |
|
|
|
|
|
Non current assets composition per
epigraph |
Current assets composition per epigraph |
|
|
|
|
|
|
Net Worth and Liabilities
Figures given in
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NET WORTH |
481.472,52 |
45,33 |
432.777,96 |
52,78 |
394.016,94 |
47,02 |
|
A-1) Equity |
481.472,52 |
45,33 |
432.777,96 |
52,78 |
394.016,94 |
47,02 |
|
I. Capital |
48.080,00 |
4,53 |
48.080,00 |
5,86 |
48.080,00 |
5,74 |
|
1. Authorized capital |
48.080,00 |
4,53 |
48.080,00 |
5,86 |
48.080,00 |
5,74 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
384.697,96 |
36,22 |
345.936,94 |
42,19 |
311.344,86 |
37,15 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
48.694,56 |
4,58 |
38.761,02 |
4,73 |
34.592,08 |
4,13 |
|
VIII. (Interim dividend) |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
|
|
|
|
|
|
|
A-3) Received legacies, grants and subventions |
|
|
|
|
|
|
|
B) NON CURRENT LIABILITIES |
|
|
|
|
4.393,79 |
0,52 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
|
|
|
|
4.393,79 |
0,52 |
|
1. Debts with bank entities |
|
|
|
|
4.393,79 |
0,52 |
|
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 |
580.666,23 |
54,67 |
387.237,50 |
47,22 |
439.655,05 |
52,46 |
|
I. Short term provisions |
|
|
|
|
|
|
|
II. Short term debts |
|
|
|
|
35.555,60 |
4,24 |
|
3. Other short term debts |
|
|
|
|
35.555,60 |
4,24 |
|
III. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
IV. Trade creditors and other payable accounts |
580.666,23 |
54,67 |
387.237,50 |
47,22 |
404.099,45 |
48,22 |
|
1. Suppliers |
410.649,32 |
38,66 |
283.447,34 |
34,57 |
292.476,89 |
34,90 |
|
b) Short term suppliers |
410.649,32 |
38,66 |
283.447,34 |
34,57 |
292.476,89 |
34,90 |
|
2. Other creditors |
170.016,91 |
16,01 |
103.790,16 |
12,66 |
111.622,56 |
13,32 |
|
V. Short term periodifications |
|
|
|
|
|
|
|
VI. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
1.062.138,75 |
100,00 |
820.015,46 |
100,00 |
838.065,78 |
100,00 |
Net worth and liabilities composition graphs
|
|
|
|
Net Worth and Liabilities composition per
chapter |
|
|
|
|
|
Non current liabilities composition per
epigraph |
Current liabilities composition per
epigraph |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNT
Figures given in
|
|
31/12/2011 (12) |
%OPERATING INCOME |
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
|
1. Net Turnover |
2.328.940,77 |
100,00 |
1.588.472,60 |
99,72 |
1.508.160,51 |
100,00 |
|
2. Variation in stocks of finished goods and work in progress |
|
|
|
|
|
|
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-1.576.061,28 |
-67,67 |
-1.033.525,43 |
-64,88 |
-964.924,32 |
-63,98 |
|
5. Other operating income |
|
|
4.500,00 |
0,28 |
|
|
|
6. Labour cost |
-174.260,38 |
-7,48 |
-144.133,92 |
-9,05 |
-125.237,90 |
-8,30 |
|
7. Other operating costs |
-450.918,22 |
-19,36 |
-321.040,24 |
-20,15 |
-321.304,25 |
-21,30 |
|
8. Amortization of fixed assets |
-41.840,41 |
-1,80 |
-39.530,11 |
-2,48 |
-46.861,71 |
-3,11 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
|
|
|
|
|
12. Other results |
|
|
|
|
|
|
|
A) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12) |
85.860,48 |
3,69 |
54.742,90 |
3,44 |
49.832,33 |
3,30 |
|
13. Financial income |
3,39 |
0,00 |
201,01 |
0,01 |
|
|
|
b) Other financial income |
3,39 |
0,00 |
201,01 |
0,01 |
|
|
|
14. Financial expenses |
-28.687,50 |
-1,23 |
-13.779,85 |
-0,87 |
-12.526,32 |
-0,83 |
|
15. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
16. Exchange differences |
3.691,83 |
0,16 |
7.287,21 |
0,46 |
5.934,09 |
0,39 |
|
17. Deterioration and result for disposal of financial instruments |
|
|
|
|
|
|
|
18. Other financial income and expenses |
|
|
|
|
|
|
|
B) FINANCIAL RESULT (13 + 14 + 15 + 16 + 17 + 18) |
-24.992,28 |
-1,07 |
-6.291,63 |
-0,39 |
-6.592,23 |
-0,44 |
|
C) RESULT BEFORE TAXES (A + B) |
60.868,20 |
2,61 |
48.451,27 |
3,04 |
43.240,10 |
2,87 |
|
19. Taxes on profits |
-12.173,64 |
-0,52 |
-9.690,25 |
-0,61 |
-8.648,02 |
-0,57 |
|
D) EXERCISE RESULT (C + 19) |
48.694,56 |
2,09 |
38.761,02 |
2,43 |
34.592,08 |
2,29 |
Composition of the Profit and Loss Account graphs
|
|
|
|
Operating expenses relative weigh per
epigraph evolution |
Profit and loss account relative weigh per
epigraph evolution |
|
|
|
|
|
|
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
For the financial statements presented under the SMEs model (PYMES),
the Net Worth Changes Status is formed by a single table. For the rest of the
cases there would be shown the two tables corresponding to the mentioned status
with the exception of the company not having operations reflected in the
Status of recognized income and expenses and that, for this reason, it has no
data.
Total net worth changes status
Figures given in
|
NET WORTH CHANGES ( 1 /1) |
AUTHORIZED CAPITAL |
RESERVES |
EXERCISE RESULT |
TOTAL |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
48.080,00 |
280.324,71 |
31.020,15 |
359.424,86 |
|
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) |
48.080,00 |
280.324,71 |
31.020,15 |
359.424,86 |
|
I. Profit and loss account result |
|
|
34.592,08 |
34.592,08 |
|
II. Recognized income and expenses in net worth |
|
|
|
|
|
III. Operations with partners or owners |
|
|
|
|
|
IV. Other net worth variations |
|
31.020,15 |
-31.020,15 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
48.080,00 |
311.344,86 |
34.592,08 |
394.016,94 |
|
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) |
48.080,00 |
311.344,86 |
34.592,08 |
394.016,94 |
|
I. Profit and loss account result |
|
|
38.761,02 |
38.761,02 |
|
II. Recognized income and expenses in net worth |
|
|
|
|
|
III. Operations with partners or owners |
|
|
|
|
|
IV. Other net worth variations |
|
34.592,08 |
-34.592,08 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
48.080,00 |
345.936,94 |
38.761,02 |
432.777,96 |
|
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) |
48.080,00 |
345.936,94 |
38.761,02 |
432.777,96 |
|
I. Profit and loss account result |
|
|
48.694,56 |
48.694,56 |
|
II. Recognized income and expenses in net worth |
|
|
|
|
|
III. Operations with partners or owners |
|
|
|
|
|
IV. Other net worth variations |
|
38.761,02 |
-38.761,02 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
48.080,00 |
384.697,96 |
48.694,56 |
481.472,52 |
Net Worth composition graph
|
|
|
|
|
|
Equilibrium Graphic and Indebtedness
|
|
|
|
Financial Balance - Working Capital |
|
|
|
|
|
Financial Balance - Working Capital
Evolution |
|
|
|
|
|
|
|
Comments on financial balance and indebtedness
In the 2.011 the assets of the company were
formed in 20,21% by non current assets
and in 79,79% by current assets . This assets were
financed in 45,33% with own capitals and in 54,67% with
short term debt .
The result of this financial structure is a working capital
positive and equal to 266.847,63 euros, which is equivalent to a
proportion of 25,12% proportion of the companys total assets .
This measure has increased with respect to the previous exercise
in 31,57% having also increased its proportion with respect to the
total assets of the company .
The improvement between 2.010 and 2.011 is
due mainly to current assets increase .
In the 2.010 the assets of the company were formed in
28,04% by non current assets and in 71,96% by
current assets . This assets were financed in 52,78% with
own capitals and in 47,22% with short term debt .
The result of this financial structure is a working capital
positive and equal to 202.812,66 euros, which is equivalent to a
proportion of 24,73% proportion of the companys total assets .
This measure has increased with respect to the previous exercise
in 57,11% having also increased its proportion with respect to the
total assets of the company .
The improvement between 2.009 and 2.010 is
due mainly to current assets increase and to current liabilities
reduction .
In the 2.009 the assets of the company were
formed in 32,14% by non current assets
and in 67,86% by current assets . This assets were
financed in 47,02% with own
capitals, in 0,52% with long term
debt and in 52,46% with short term debt .
The result of this financial structure is a working capital
positive and equal to 129.086,00 euros, which is equivalent to a
proportion of 15,40% proportion of the companys total assets .
Interest coverage decreased
in 24,67% between 2.010 and 2.011 which implies a
deterioration in the capacity of the company to generate resources to face debt
service (financial charge) .
The worsening between 2.010 and 2.011 it has been
mainly due to an increase in financial expenses .
Interest coverage decreased
in 0,13% between 2.009 and 2.010 which implies a
deterioration in the capacity of the company to generate resources to face debt
service (financial charge) .
The worsening between 2.009 and 2.010 it has been
mainly due to an increase in financial expenses .
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital () |
266.847,63 |
31,57 |
202.812,66 |
57,11 |
129.086,00 |
|
Working capital ratio |
0,25 |
0,00 |
0,25 |
66,67 |
0,15 |
|
Soundness Ratio |
2,24 |
19,15 |
1,88 |
28,77 |
1,46 |
|
Average Collection Period (days) |
27 |
50,00 |
18 |
-38,27 |
29 |
|
Average Payment Period (days) |
103 |
0,00 |
103 |
-8,92 |
113 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
145,96 |
-4,21 |
152,37 |
17,79 |
129,36 |
|
Quick Ratio (%) |
22,65 |
49,50 |
15,15 |
-44,99 |
27,54 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
|
|
|
-100,00 |
4,77 |
|
External Financing Average Cost |
|
|
|
-100,00 |
0,31 |
|
Debt Service Coverage |
|
|
|
-100,00 |
0,49 |
|
Interest Coverage |
2,99 |
-24,69 |
3,97 |
-0,25 |
3,98 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
3,89 |
-21,10 |
4,93 |
-8,70 |
5,40 |
|
Auto financing generated by Assets (%) |
8,52 |
-10,79 |
9,55 |
-1,75 |
9,72 |
|
Breakdown Point |
1,04 |
0,00 |
1,04 |
0,97 |
1,03 |
|
Average Sales Volume per Employee |
258.771,20 |
46,62 |
176.496,96 |
-18,08 |
215.451,50 |
|
Average Cost per Employee |
19.362,26 |
20,90 |
16.014,88 |
-10,49 |
17.891,13 |
|
Assets Turnover |
2,19 |
12,89 |
1,94 |
7,78 |
1,80 |
|
Inventory Turnover (days) |
124 |
-21,28 |
157 |
29,67 |
121 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
8,08 |
20,96 |
6,68 |
12,27 |
5,95 |
|
Operating Profitability (%) |
12,02 |
4,52 |
11,50 |
-0,35 |
11,54 |
|
Return on Equity (ROE) (%) |
12,64 |
12,86 |
11,20 |
2,10 |
10,97 |
Ratios comments
The economic profitability in the year 2.011 achieved a
positive level of 8,08% .
The economic profitability in the year 2.011 has
increased from 6,68% from 2.010 up
to 8,08% from 2.011. This growth has contributed to the increase
in assets turnover, reaching in the last period 2,19 compared
to 1,94 from 2.010.
Financial profitability on 2.011 achieved a positive level
of 12,64%.
The companys financial profitability has been positively affected by
its financial structure.
The economic profitability in the year 2.010 achieved a
positive level of 6,68% .
The economic profitability in the year 2.010 has
increased from 5,95% from 2.009 up
to 6,68% from 2.010. This growth has contributed to the increase
in assets turnover, reaching in the last period 1,94 compared
to 1,80 from 2.009.
Financial profitability on 2.010 achieved a positive level
of 11,20%.
The companys financial profitability has been positively affected by
its financial structure.
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 |
20,21 |
38,45 |
-18,24 |
|
A) CURRENT ASSETS |
79,79 |
61,55 |
18,24 |
|
LIABILITIES |
|||
|
A) NET WORTH |
45,33 |
44,81 |
0,52 |
|
B) NON CURRENT LIABILITIES |
|
17,99 |
|
|
C) CURRENT LIABILITIES |
54,67 |
37,20 |
17,47 |
|
|
|
|
|
Sectorial Financial Balance Comparison
|
|
|
|
Financial Balance - Working Capital Company |
Financial Balance - Working Capital Sector |
|
|
|
|
|
|
|
|
|
Comments of the sectorial analysis
In the 2.011 the assets of the company were formed
in 20,21% of non current assets and in 79,79% of current assets.
In the sector, the proportion of non current assets was
of 38,45%, and the proportion of current assets was of 61,55% .
The assets were financed in the company in 45,33% with own
capitals and in 54,67% with short term debt. In the
sector, the self financing represented 44,81%.
Short term liabilities represented in the sector an average
of 37,20% the financing.
The result of this companys financial structure is a working capital
that represents 25,12% of the total assets; in the sector, this same proportion
is 24,35%.
Results Analytical Account
Figures given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
100,00 |
99,22 |
0,78 |
|
Other operating income |
|
0,78 |
|
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-67,67 |
-58,37 |
-9,30 |
|
Variation in stocks of finished goods and work in progress |
|
0,39 |
|
|
GROSS MARGIN |
32,33 |
42,01 |
-9,68 |
|
Other operating costs |
-19,36 |
-17,08 |
-2,28 |
|
Labour cost |
-7,48 |
-19,79 |
12,31 |
|
GROSS OPERATING RESULT |
5,48 |
5,14 |
0,34 |
|
Amortization of fixed assets |
-1,80 |
-3,40 |
1,60 |
|
Deterioration and result for fixed assets disposal |
|
0,54 |
|
|
Other expenses / income |
|
0,29 |
|
|
NET OPERATING RESULT |
3,69 |
2,58 |
1,11 |
|
Financial result |
-1,07 |
-1,37 |
0,30 |
|
RESULT BEFORE TAX |
2,61 |
1,21 |
1,40 |
|
Taxes on profits |
-0,52 |
-0,37 |
-0,15 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
2,09 |
0,84 |
1,25 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
2,09 |
0,84 |
1,25 |
|
Amortization of fixed assets |
-1,80 |
-3,40 |
1,60 |
|
Deterioration and provisions variation |
|
0,54 |
|
|
|
3,89 |
3,70 |
0,19 |
Analytical account
of results composition graphs
|
|
|
|
Company-sector profit and loss account
relative weighs per epigraph |
Company-sector profit and loss account
partial results relative weighs per epigraph |
|
|
|
|
|
|
Main Ratios
Figures given in
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital () |
266.847,63 |
482,80 |
65.848,56 |
284.224,34 |
|
Working capital ratio |
0,25 |
0,00 |
0,19 |
0,42 |
|
Soundness Ratio |
2,24 |
0,57 |
1,31 |
2,92 |
|
Average Collection Period (days) |
27 |
27 |
76 |
133 |
|
Average Payment Period (days) |
103 |
65 |
113 |
219 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
145,96 |
100,85 |
140,80 |
238,79 |
|
Quick Ratio (%) |
22,65 |
4,14 |
24,87 |
70,00 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
|
1,69 |
21,69 |
47,76 |
|
External Financing Average Cost |
|
0,01 |
0,04 |
0,07 |
|
Debt Service Coverage |
|
0,00 |
1,36 |
12,79 |
|
Interest Coverage |
2,99 |
0,89 |
1,67 |
8,17 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
3,89 |
0,93 |
3,80 |
8,25 |
|
Auto financing generated by Assets (%) |
8,52 |
1,15 |
3,17 |
7,08 |
|
Breakdown Point |
1,04 |
1,00 |
1,02 |
1,06 |
|
Average Sales Volume per Employee |
258.771,20 |
55.236,56 |
108.374,10 |
184.172,65 |
|
Average Cost per Employee |
19.362,26 |
15.817,94 |
21.464,51 |
28.372,53 |
|
Assets Turnover |
2,19 |
0,55 |
1,05 |
1,52 |
|
Inventory Turnover (days) |
124 |
22 |
90 |
286 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
8,08 |
0,37 |
2,64 |
5,89 |
|
Operating Profitability (%) |
12,02 |
2,44 |
4,91 |
9,91 |
|
Return on Equity (ROE) (%) |
12,64 |
0,43 |
3,52 |
14,41 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.07 |
|
|
1 |
Rs.89.91 |
|
Euro |
1 |
Rs.77.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SCs 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.