MIRA
INFORM REPORT
|
Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
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Name : |
GRUPO DE EMPRESAS AZVI SL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.10.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Activities of Holding Companies |
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No. of Employees : |
55 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Holding Company with no commercial activity |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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
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
GRUPO DE EMPRESAS AZVI SL
CIF/NIF: B91164343
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: GRUPO DE EMPRESAS AZVI SL
Commercial name: GRUPO AZVI
Other names: NO
Current Address: CALLE ALMENDRALEJO, 5
Telephone number: 954999320
Fax: 954999200
URL: www.azvi.es
Corporate e-mail: azvi@azvi.es
Trade Risk
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2011): 15.627.122,00 € (Mercantile Register)
Result: 4.179.071 €
Total Assets: 117.048.228 €
Share capital: 33.385.500,00 €
Employees: 55
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 23/10/2001
Activity: Holding
NACE 2009 CODE: 6420
International Operations: No business relationships registered
Corporate Structure
President:
Participations: 6
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2011
Latest act published in BORME: 04/12/2012 Appointments
Latest press article: No press articles registered for this
company
Bank Entities: There are
TRADE RISK
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
18/06/2013 08:06:49
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
Figures given in €
|
|
31/12/2011 (12) BALANCE SHEET |
% ASSETS |
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
99.514.331,00 |
85,02 |
88.294.503,00 |
84,72 |
81.383.271,98 |
82,36 |
|
B) CURRENT ASSETS |
17.533.897,00 |
14,98 |
15.923.801,00 |
15,28 |
17.426.127,87 |
17,64 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
59.027.969,00 |
50,43 |
57.111.708,00 |
54,80 |
54.970.017,59 |
55,63 |
|
B) NON CURRENT LIABILITIES |
41.290.070,00 |
35,28 |
32.160.342,00 |
30,86 |
25.093.953,00 |
25,40 |
|
C) CURRENT LIABILITIES |
16.730.189,00 |
14,29 |
14.946.254,00 |
14,34 |
18.745.429,26 |
18,97 |
Profit and loss account analysis
Figures given in €
|
|
31/12/2011 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
15.627.122,00 |
|
10.377.828,00 |
|
9.741.381,38 |
|
|
GROSS MARGIN |
15.624.269,00 |
99,98 |
10.428.882,00 |
100,49 |
9.698.088,09 |
99,56 |
|
EBITDA |
10.172.441,00 |
65,09 |
5.291.401,00 |
50,99 |
4.660.554,02 |
47,84 |
|
EBIT |
9.922.056,00 |
63,49 |
5.043.636,00 |
48,60 |
4.430.999,10 |
45,49 |
|
NET RESULT |
4.179.071,00 |
26,74 |
3.428.752,00 |
33,04 |
4.102.558,39 |
42,11 |
|
EFFECTIVE TAX RATE (%) |
-10,65 |
0,00 |
-9,72 |
0,00 |
-2,16 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
85,02 |
90,45 |
-5,43 |
|
A) CURRENT ASSETS |
14,98 |
9,55 |
5,43 |
|
LIABILITIES |
|||
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A) NET WORTH |
50,43 |
69,44 |
-19,01 |
|
B) NON CURRENT LIABILITIES |
35,28 |
20,64 |
14,64 |
|
C) CURRENT LIABILITIES |
14,29 |
9,92 |
4,37 |
|
|
|
|
|
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
99,26 |
92,02 |
7,24 |
|
GROSS MARGIN |
99,25 |
93,90 |
5,35 |
|
EBITDA |
64,62 |
51,73 |
12,89 |
|
EBIT |
63,03 |
45,57 |
17,46 |
|
NET RESULT |
26,55 |
24,31 |
2,24 |
Sector Composition
Compared sector (NACE 2009): 642
Number of companies: 70
Size (sales figure): 7,000,000.00 - 40,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2011
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss Account Balance |
4.179.071,00 |
Legal Reserve |
417.907,00 |
|
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 |
1.421.737,00 |
|
Total of Amounts to be distributed |
4.179.071,00 |
Dividends |
2.339.427,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
0,00 |
|
|
|
Application total |
4.179.071,00 |
Auditing
Source: filing of annual financial statement 2011
Auditors’ opinion: FAVOURABLE
Auditor: DELOITTE S.L.
Auditor emphasis:
Without qualifying our audit opinion, we draw attention to the information contained in Note 13 of the memory,
which indicates that the Company makes
a significant volume of transactions
with Group and related companies,
so any interpretation or analysis of the accompanying financial
statements should be carried out considering
this circumstance. In the opinion of the Directors of the Company, these transactions
were at market.
Auditing fees: 7.000,00 €
Facts subsequent to the closing
Source: Annual financial report 2011
After the closure no relevant facts requiring their inclusion in the
annual accounts have taken place.
ADDRESSES
Current Legal Seat Address:
CALLE ALMENDRALEJO, 5
41019 SEVILLA SEVILLE
Previous Seat Address:
VIRGEN DE LOS REYES. SECOYA 2
SEVILLA
SEVILLE
Characteristics
of the current address
Type of establishment: office
Owners: rented
Local Situation: main
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
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Distribution of the administration board |
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Governing body : 14 members (latest change:
31/12/2009) Other Positions : 3 (latest change: 30/07/2007) Auditor : 4 (latest change: 23/11/2012) Operative Board Members : 1 (latest change: 13/11/2009) Non-current positions : 8 (latest change: 12/09/2012) |
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Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
CONTRERAS RAMOS, MANUEL |
13/11/2001 |
|
VICE-PRESIDENT |
CONTRERAS RAMOS, BERNARDO |
14/05/2002 |
|
MEMBER OF THE BOARD |
CONTRERAS RAMOS, DIONISIO |
13/11/2001 |
|
MEMBER OF THE BOARD |
CONTRERAS RAMOS, RAMON |
13/11/2001 |
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MEMBER OF THE BOARD |
HERRERO LEON, SANTIAGO |
22/08/2003 |
|
MEMBER OF THE BOARD |
CABANILLAS ALONSO, PIO |
22/08/2003 |
|
MEMBER OF THE BOARD |
MEDEL CAMARA, BRAULIO |
04/07/2005 |
|
MEMBER OF THE BOARD |
SONICOR S L |
06/04/2006 |
|
MEMBER OF THE BOARD |
CARRERA VEINTE Y DOS SL |
26/03/2009 |
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Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
DELOITTE SL |
29/11/2010 |
|
AUDITOR |
ERNST & YOUNG SL |
23/11/2012 |
|
CONSOLIDATED ACCOUNTS AUDITOR |
DELOITTE SL |
17/11/2010 |
|
CONSOLIDATED ACCOUNTS AUDITOR |
ERNST & YOUNG SL |
23/11/2012 |
Board members remuneration
Source: Annual
financial report 2011
Board
members remuneration: 688.057,00 €
|
POSITION |
NAME AND SURNAME |
|
General Manager |
CONTRERAS RAMOS, MANUEL |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
CONTRERAS RAMOS DIONISIO |
|
17,10 |
OWN SOURCES |
21/06/2013 |
|
|
CONTRERAS RAMOS JESUS |
|
17,10 |
OWN SOURCES |
21/06/2013 |
|
|
SELEGAN SL |
B41261892 |
17,07 |
OWN SOURCES |
21/06/2013 |
|
|
MORAJUIS SL |
B41710203 |
17,03 |
OWN SOURCES |
21/06/2013 |
|
|
SANTICHE SL |
B41681305 |
16,55 |
OWN SOURCES |
21/06/2013 |
|
|
AZVI SA |
A41017088 |
9,99 |
OWN SOURCES |
21/06/2013 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
AZVI SA |
A41017088 |
99,99 |
OWN SOURCES |
19/04/2012 |
|
|
AZVI GESTION Y SERVICIOS SOCIEDAD LIMITADA. |
B91328948 |
99,97 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
AZVI PROMOCIONES INMOBILIARIAS SL |
B91237453 |
99,94 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
COINTER CONCESIONES SOCIEDAD LIMITADA. |
B91239954 |
39,15 |
OWN SOURCES |
15/03/2013 |
|
|
S.C.AZCALE CONSTRUCTIE S.R.L |
ROMANIA |
1,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
TRACCION RAIL SA |
A91451468 |
0,40 |
OWN SOURCES |
10/07/2012 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
SHAREHOLDER |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LOGISTICA DE HORMIGONES Y ASFALTOS S.L. |
AZVI SA |
B91600502 |
100,00 |
MERCANTILE REGISTER |
31/12/2011 |
|
|
PREINCONTROL SOCIEDAD LIMITADA. |
AZVI GESTION Y SERVICIOS SOCIEDAD LIMITADA. |
B91471748 |
100,00 |
OWN SOURCES |
10/10/2012 |
|
|
MABERA IMOBILIARE SRL |
AZVI PROMOCIONES INMOBILIARIAS SL |
ROMANIA |
99,00 |
MERCANTILE REGISTER |
31/12/2009 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GUCON SA (EXTINGUIDA) |
A41020181 |
100,00 |
BORME II |
26/10/2004 |
|
|
CENTRO DE ESTUDIOS MEDIOAMBIENTALES Y DE COGENERACION ENERGETICA S.L.
(EXTINGUIDA) |
B96904107 |
100,00 |
B.O.R.M.E. |
24/03/2004 |
|
|
CENTRO DE ESTUDIOS DE MERCADO Y CIUDADANOS CEMYC SL |
B81248379 |
Subsidiary |
B.O.R.M.E. |
02/07/2007 |
Company with rating inferior to 7
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”MANUEL CONTRERAS RAMOS”
|
COMPANY |
POSITION |
PROVINCE |
|
MOSAICO DESARROLLOS INMOBILIARIOS SA |
Presidente |
SEVILLA |
|
COINTER ENERGIA SL |
Presidente |
SEVILLA |
|
VIGU SL |
Presidente |
SEVILLA |
|
SANTICHE SL |
Presidente |
SEVILLA |
|
PRASCOM PROMOCIONES INMOBILIARIAS SOCIEDAD LIMITADA. |
Presidente |
SEVILLA |
In case you need more information you can request:Board Members Monitoring
Search Criterion: ”AZVI”
|
COMPANY FOUND |
PROVINCE |
|
AZVI SA |
SEVILLA |
|
AZVI GESTION Y SERVICIOS SOCIEDAD LIMITADA. |
SEVILLA |
|
AZVI PROMOCIONES INMOBILIARIAS SL |
SEVILLA |
Search Criterion: ”GRUPO DE EMPRESAS AZVI SL”
URL: www.azvi.es
AZVI Grupo Azvi ... Azvi consigue un nuevo contrato en el Puerto de La
Coruña ver más. 29 de Mayo de 2013. Azvi patrocina la Red de Ciudades AVE ver
más.
URL: www.elmundo.es
Azvi niega donaciones al partido, pero admite la financiación de ... 28 May 2013
... Azvi niega donaciones al partido, pero admite la financiación de foros
políticos. Manuel Contreras, del grupo de empresas Azvi SL, a su salida ...
URL: es.linkedin.com
César Villegas Fernández - España | LinkedIn César
Villegas Fernández, Responsable de Selección, Formación y Desarrollo en GRUPO
DE EMPRESAS AZVI, S.L.. Sevilla y alrededores, España.
URL: andaluciainformacion.es
Las andaluzas Sando y Azvi, entre las imputadas por el juez Ruz ... 2 May 2013
... Dos empresas andaluzas, el grupo Sando y el grupo de empresas Azvi SL, se
encuentran entre las citadas como imputadas por el juez de la ...
BUSINESS INFORMATION
Incorporation date: 23/10/2001
Code: 1842200
Activity: Holding
NACE 2009 CODE: 6420
NACE 2009 Activity: Activities of holding companies
Business: PROMOTION OF ENTERPRISES INDUSTRIAL
/ COMMERCIAL CAPITAL
PARTICIPATION IN SOCIAL
MANAGEMENT MANAGEMENT ENTERPRISES HOLDINGS, ENGINEERING
SERVICES, COMPUTER, ACCOUNTING, BUSINESS MANAGEMENT
SUPPORT, strategic
(Enlargement) BUILDING, SALES PROMOTION AND ALL
KINDS OF HOUSING, LOCAL BUSINESS, INDUSTRIAL,
OFFICES PARKING, AND IN GENERAL, ALL KINDS OF
PROPERTY.
Activity description: HOLDING
COMPANY (HOLDINGS).
Latest employees figure: 55 (2013)
% of fixed employees: 90,91%
% of temporary employees: 9,09%
% of men: 74,55%
% of women: 25,45%
Employees evolution
|
|
|
|
Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Distribution by sexes |
|
41 |
14 |
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
AZVI SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
COINTER
CONCESIONES SL |
NO |
|
AZVI PROMOCIONES
INMOBILIARIAS SL |
NO |
|
AZVI SA |
NO |
•
El 63,55 % de su cifra de negocio corresponde a
dividendos e ingresos financieros.
•
El 32,96 % de su cifra de negocio corresponde a
prestación de servicios de gestión.
•
El 3,49 % de su cifra de negocio corresponde a
arrendamientos.
Professional and advertising services
Source: Annual financial report 2011
Professional services
expenses: 72.825,00 €
Advertising services expenses: 127.799,00 €
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO SANTANDER, S.A. |
|
|
SEVILLA |
|
|
BANKINTER, S.A. |
|
|
SEVILLA |
|
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
SEVILLA |
|
Discount facilities: 0
Credit policy: 1
Mortgage loan: 1
Loans with no real security: 6
|
|
|
|
Debt type: Credit policy |
Granted limit:3.000.000,00 € Used limit:2.961.386,00
€ Available limit:38.614,00
€ Source: Filed
Accounts (2011) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:14.000.000,00 € Long term outstanding
amount:5.430.353,00 € Short term outstanding
amount:1.653.709,00 € Total outstanding amount:7.084.062,00
€ Source: Filed
Accounts (2011) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:6.000.000,00 € Long term outstanding
amount:2.579.847,00 € Short term outstanding
amount:1.982.868,00 € Total outstanding amount:4.562.715,00
€ Source: Filed
Accounts (2011) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:4.200.000,00 € Long term outstanding
amount:4.200.000,00 € Short term outstanding
amount:0,00 € Total outstanding amount:4.200.000,00
€ Source: Filed
Accounts (2011) |
|
|
|
|
Debt type: Loans with no
real security |
Granted amount:6.000.000,00 € Long term outstanding
amount:0,00 € Short term outstanding
amount:1.800.000,00 € Total outstanding amount:1.800.000,00
€ Source: Filed
Accounts (2011) |
|
|
|
Figures given in €
|
ENTITY |
ASSERTS INVOLVED IN THE ACTIVITY |
UP TO 1 YEAR |
FROM 1 TO 5 YEARS |
MORE THAN 5 YEARS |
|
|
Equipos de oficina. |
1.197,00 |
0,00 |
0,00 |
Grants
With this nif/cif there are no outstanding grants or outstanding balances.
If you wish you could check the grants historical register
LEGAL
STRUCTURE
Constitution Data
Register Date: 23/10/2001
Register town: Seville
Announcement number: 413291
Share capital: 33.385.500 €
Legal form: Limited Liability Company
Share capital: 33.385.500,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2011)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 2 (Last: 10/07/2003, first:
18/06/2003)
Acts on administrators: 24 (Last: 04/12/2012, first:
13/11/2001)
Acts on capital: 0
Acts on creation: 1 (Last: 13/11/2001)
Acts on filed accounts: 17 (Last: 26/08/2011, first:
29/10/2002)
Acts on identification: 1 (Last: 25/10/2002)
Acts on Information: 7 (Last: 19/04/2012, first:
25/10/2002)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Appointments |
04/12/2012 |
501707 |
Seville |
|
Resignations |
24/09/2012 |
391264 |
Seville |
|
Resignations |
15/06/2012 |
254167 |
Seville |
|
Modification of the Articles of Association |
19/04/2012 |
174297 |
Seville |
|
Modification of the Articles of Association |
31/10/2011 |
433140 |
Seville |
|
Re-elections |
19/10/2011 |
415661 |
Seville |
|
Re-elections |
29/08/2011 |
354558 |
Seville |
|
Annual Filed Accounts (2010) consolidated |
26/08/2011 |
365078 |
Seville |
|
Annual Filed Accounts (2010) |
22/08/2011 |
327952 |
Seville |
|
Re-elections |
29/11/2010 |
441167 |
Seville |
PRESS ARTICLES
No press articles registered for this company
Complementary Information
Financial Information
El balance cerrado a 31/12/2001 (Depósito 2002) está disponible, pero no
ha sido cargado por tener una duración inferior a tres meses.
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Mercantile Register file of the legal address of
the Company and dated 28/08/2012.
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 |
99.514.331,00 |
85,02 |
88.294.503,00 |
84,72 |
81.383.271,98 |
82,36 |
|
I. Intangible assets |
403.011,00 |
0,34 |
325.552,00 |
0,31 |
87.601,00 |
0,09 |
|
5. Software |
86.348,00 |
0,07 |
138.597,00 |
0,13 |
|
|
|
7. Other intangible assets |
316.663,00 |
0,27 |
186.955,00 |
0,18 |
|
|
|
II. Tangible fixed assets |
4.674.915,00 |
3,99 |
4.803.057,00 |
4,61 |
4.955.085,00 |
5,01 |
|
1. Property, plant and equipment |
4.567.329,00 |
3,90 |
4.662.846,00 |
4,47 |
|
|
|
2. Technical fittings and other tangible assets |
107.586,00 |
0,09 |
140.211,00 |
0,13 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated and affiliated companies |
92.169.131,00 |
78,74 |
81.736.367,00 |
78,43 |
74.882.393,99 |
75,78 |
|
1. Net worth instruments |
53.760.811,00 |
45,93 |
56.880.105,00 |
54,58 |
|
|
|
2. Credits to companies |
38.408.320,00 |
32,81 |
24.856.262,00 |
23,85 |
|
|
|
V. Long Term Financial Investments |
1.645.999,00 |
1,41 |
775.416,00 |
0,74 |
788.895,07 |
0,80 |
|
1. Net worth instruments |
1.546.254,00 |
1,32 |
673.409,00 |
0,65 |
|
|
|
5. Other financial assets |
99.745,00 |
0,09 |
102.007,00 |
0,10 |
|
|
|
VI. Assets by deferred taxes |
621.275,00 |
0,53 |
654.111,00 |
0,63 |
669.296,92 |
0,68 |
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
17.533.897,00 |
14,98 |
15.923.801,00 |
15,28 |
17.426.127,87 |
17,64 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
|
|
|
|
17.492,83 |
0,02 |
|
III. Trade Debtors and other receivable accounts |
1.661.701,00 |
1,42 |
62.218,00 |
0,06 |
9.558,38 |
0,01 |
|
1. Clients |
25,00 |
0,00 |
407,00 |
0,00 |
|
|
|
b) Clients for sales and short term services
rendering |
25,00 |
0,00 |
407,00 |
0,00 |
|
|
|
2. Clients group and associated companies |
242.757,00 |
0,21 |
52.289,00 |
0,05 |
|
|
|
3. Other debts |
50.000,00 |
0,04 |
|
|
|
|
|
4. Staff |
4.964,00 |
0,00 |
9.522,00 |
0,01 |
|
|
|
5. Assets by current taxes |
1.357.124,00 |
1,16 |
|
|
|
|
|
6. Other credits with the Public Administrations |
6.831,00 |
0,01 |
|
|
|
|
|
IV. Short term investments in associated and affiliated companies |
9.097.630,00 |
7,77 |
10.090.583,00 |
9,68 |
12.955.146,78 |
13,11 |
|
2. Credits to companies |
9.097.630,00 |
7,77 |
10.090.583,00 |
9,68 |
|
|
|
V. Short term financial investments |
6.557.103,00 |
5,60 |
5.622.763,00 |
5,40 |
4.250.174,70 |
4,30 |
|
1. Net worth instruments |
3.032.477,00 |
2,59 |
3.570.289,00 |
3,43 |
|
|
|
2. Credits to companies |
3.524.626,00 |
3,01 |
2.052.474,00 |
1,97 |
|
|
|
VI. Short term periodifications |
11.289,00 |
0,01 |
10.732,00 |
0,01 |
10.644,72 |
0,01 |
|
VII. Cash and equivalents |
206.174,00 |
0,18 |
137.505,00 |
0,13 |
183.110,46 |
0,19 |
|
1. Treasury |
206.174,00 |
0,18 |
137.505,00 |
0,13 |
|
|
|
TOTAL ASSETS (A + B) |
117.048.228,00 |
100,00 |
104.218.304,00 |
100,00 |
98.809.399,85 |
100,00 |
NET WORTH AND
LIABILITIES
Figures given in €
|
|
31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NET WORTH |
59.027.969,00 |
50,43 |
57.111.708,00 |
54,80 |
54.970.017,59 |
55,63 |
|
A-1) Equity |
60.477.610,00 |
51,67 |
58.637.966,00 |
56,26 |
56.531.710,37 |
57,21 |
|
I. Capital |
33.385.500,00 |
28,52 |
33.385.500,00 |
32,03 |
33.385.500,00 |
33,79 |
|
1. Authorized capital |
33.385.500,00 |
28,52 |
33.385.500,00 |
32,03 |
33.385.500,00 |
33,79 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
25.252.466,00 |
21,57 |
23.146.209,00 |
22,21 |
20.425.921,03 |
20,67 |
|
1. Legal and statutory |
3.570.116,00 |
3,05 |
3.227.242,00 |
3,10 |
|
|
|
2. Other funds |
21.682.350,00 |
18,52 |
19.918.967,00 |
19,11 |
|
|
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
4.179.071,00 |
3,57 |
3.428.752,00 |
3,29 |
4.102.558,39 |
4,15 |
|
VIII. (Interim dividend) |
-2.339.427,00 |
-2,00 |
-1.322.495,00 |
-1,27 |
-1.382.269,05 |
-1,40 |
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
-1.449.641,00 |
-1,24 |
-1.526.258,00 |
-1,46 |
-1.561.692,78 |
-1,58 |
|
I. Financial assets available for sale |
-1.449.641,00 |
-1,24 |
-1.526.258,00 |
-1,46 |
|
|
|
II. Coverage operations |
|
|
|
|
|
|
|
III. Non-current assets and related liabilities, maintained for sale |
|
|
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
|
|
V. Other |
|
|
|
|
|
|
|
A-3) Received legacies, grants and subventions |
|
|
|
|
|
|
|
B) NON CURRENT LIABILITIES |
41.290.070,00 |
35,28 |
32.160.342,00 |
30,86 |
25.093.953,00 |
25,40 |
|
I. Long term provisions |
2.019,00 |
0,00 |
|
|
|
|
|
1. Long term staff benefits obligations |
2.019,00 |
0,00 |
|
|
|
|
|
II. Long term debts |
16.225.618,00 |
13,86 |
15.772.535,00 |
15,13 |
18.786.476,47 |
19,01 |
|
2. Debts with bank entities |
15.813.220,00 |
13,51 |
15.458.484,00 |
14,83 |
|
|
|
3. Financial leasing creditors |
|
|
1.156,00 |
0,00 |
|
|
|
5. Other financial liabilities |
412.398,00 |
0,35 |
312.895,00 |
0,30 |
|
|
|
III. Long term debts with associated and affiliated companies |
25.060.057,00 |
21,41 |
16.378.715,00 |
15,72 |
6.294.726,67 |
6,37 |
|
IV. Liabilities by deferred taxes |
2.376,00 |
0,00 |
9.092,00 |
0,01 |
12.749,86 |
0,01 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
16.730.189,00 |
14,29 |
14.946.254,00 |
14,34 |
18.745.429,26 |
18,97 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
9.181.465,00 |
7,84 |
9.542.584,00 |
9,16 |
11.089.191,14 |
11,22 |
|
2. Debts with bank entities |
9.180.309,00 |
7,84 |
9.539.244,00 |
9,15 |
|
|
|
3. Financial leasing creditors |
1.156,00 |
0,00 |
3.340,00 |
0,00 |
|
|
|
IV. Short term debts with associated and affiliated companies |
4.495.258,00 |
3,84 |
2.325.280,00 |
2,23 |
2.047.508,98 |
2,07 |
|
V. Trade creditors and other payable accounts |
3.053.466,00 |
2,61 |
3.078.390,00 |
2,95 |
5.608.729,14 |
5,68 |
|
1. Suppliers |
365.383,00 |
0,31 |
316.065,00 |
0,30 |
|
|
|
b) Short term suppliers |
365.383,00 |
0,31 |
316.065,00 |
0,30 |
|
|
|
2. Suppliers group and associated companies |
3.261,00 |
0,00 |
4.797,00 |
0,00 |
|
|
|
3. Different creditors |
60.801,00 |
0,05 |
52.401,00 |
0,05 |
|
|
|
4. Staff (pending remunerations) |
336.067,00 |
0,29 |
293.929,00 |
0,28 |
|
|
|
6. Other debts with Public Administrations |
2.287.954,00 |
1,95 |
2.411.198,00 |
2,31 |
|
|
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
117.048.228,00 |
100,00 |
104.218.304,00 |
100,00 |
98.809.399,85 |
100,00 |
PROFIT AND LOSS
ACCOUNT
Figures given in €
|
|
31/12/2011 (12) |
%OPERATING INCOME |
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
15.627.122,00 |
99,26 |
10.377.828,00 |
98,38 |
9.741.381,38 |
99,26 |
|
A) Sales |
5.150.532,00 |
32,72 |
4.961.300,00 |
47,03 |
|
|
|
b) Services provided |
10.476.590,00 |
66,55 |
5.416.528,00 |
51,35 |
|
|
|
2. Variation in stocks of finished goods and work in progress |
|
|
|
|
|
|
|
3. Works for its own assets |
59.499,00 |
0,38 |
106.573,00 |
1,01 |
|
|
|
4. Supplies |
-118.671,00 |
-0,75 |
-119.491,00 |
-1,13 |
-116.083,94 |
-1,18 |
|
a) Material consumed |
-35.765,00 |
-0,23 |
-46.471,00 |
-0,44 |
|
|
|
c) Works carried out for other companies |
-82.906,00 |
-0,53 |
-73.020,00 |
-0,69 |
|
|
|
5. Other operating income |
56.319,00 |
0,36 |
63.972,00 |
0,61 |
72.790,65 |
0,74 |
|
a) Other incomes |
56.319,00 |
0,36 |
62.672,00 |
0,59 |
|
|
|
b) Operating grants included in the exercise result |
|
|
1.300,00 |
0,01 |
|
|
|
6. Labour cost |
-4.601.588,00 |
-29,23 |
-4.352.590,00 |
-41,26 |
-4.230.641,37 |
-43,11 |
|
a) Wages and similar expenses |
-3.941.829,00 |
-25,04 |
-3.721.101,00 |
-35,28 |
|
|
|
b) Social costs |
-659.759,00 |
-4,19 |
-631.489,00 |
-5,99 |
|
|
|
7. Other operating costs |
-850.150,00 |
-5,40 |
-784.891,00 |
-7,44 |
-806.892,70 |
-8,22 |
|
a) External services |
-808.762,00 |
-5,14 |
-743.402,00 |
-7,05 |
|
|
|
b) Taxes |
-41.388,00 |
-0,26 |
-41.444,00 |
-0,39 |
|
|
|
d) Other day to day expenses |
|
|
-45,00 |
0,00 |
|
|
|
8. Amortization of fixed assets |
-250.385,00 |
-1,59 |
-247.765,00 |
-2,35 |
-229.283,92 |
-2,34 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
-90,00 |
0,00 |
|
|
-271,00 |
0,00 |
|
b) Results for disposals and others |
-90,00 |
0,00 |
|
|
|
|
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
|
|
|
|
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
9.922.056,00 |
63,03 |
5.043.636,00 |
47,81 |
4.430.999,10 |
45,15 |
|
14. Financial income |
271.488,00 |
1,72 |
193.243,00 |
1,83 |
293.753,37 |
2,99 |
|
a) From net worth instruments participations |
193.387,00 |
1,23 |
108.315,00 |
1,03 |
|
|
|
a 2) On third parties |
193.387,00 |
1,23 |
108.315,00 |
1,03 |
|
|
|
b) From negotiable values and other financial instruments |
78.101,00 |
0,50 |
84.928,00 |
0,81 |
|
|
|
b 2) From third parties |
78.101,00 |
0,50 |
84.928,00 |
0,81 |
|
|
|
15. Financial expenses |
-2.330.575,00 |
-14,80 |
-1.431.941,00 |
-13,57 |
-1.275.256,01 |
-12,99 |
|
a) For debts with associated and affiliated companies |
-929.937,00 |
-5,91 |
-437.745,00 |
-4,15 |
|
|
|
b) For debts with third parties |
-1.400.638,00 |
-8,90 |
-994.196,00 |
-9,43 |
|
|
|
16. Reasonable value variation on financial instruments |
-363.730,00 |
-2,31 |
|
|
|
|
|
a) Negotiation portfolio and others |
-363.730,00 |
-2,31 |
|
|
|
|
|
17. Exchange differences |
|
|
|
|
|
|
|
18. Deterioration and result for disposal of financial instruments |
-3.722.483,00 |
-23,65 |
-680.009,00 |
-6,45 |
566.450,08 |
5,77 |
|
a) Deteriorations and losses |
-3.722.483,00 |
-23,65 |
-680.009,00 |
-6,45 |
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-6.145.300,00 |
-39,04 |
-1.918.707,00 |
-18,19 |
-415.052,56 |
-4,23 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
3.776.756,00 |
23,99 |
3.124.929,00 |
29,62 |
4.015.946,54 |
40,92 |
|
20. Taxes on profits |
402.315,00 |
2,56 |
303.823,00 |
2,88 |
86.611,85 |
0,88 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
4.179.071,00 |
26,55 |
3.428.752,00 |
32,51 |
|
|
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
4.179.071,00 |
26,55 |
3.428.752,00 |
32,51 |
4.102.558,39 |
41,80 |
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2011 (12) |
31/12/2010 (12) |
31/12/2009 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
4.179.071,00 |
3.428.752,00 |
4.102.558,39 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO
NET WORTH |
|
|
|
|
I. For valuation of financial instruments |
-724.827,00 |
-637.472,00 |
-97.025,90 |
|
2. Other income / expenses |
-724.827,00 |
-637.472,00 |
|
|
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 |
217.449,00 |
191.242,00 |
29.107,77 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED
DIRECTLY TO NET WORTH (I + II + III + IV +V+VI+VII) |
-507.378,00 |
-446.230,00 |
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
|
VIII. For valuation of financial
instruments |
834.278,00 |
688.093,00 |
|
|
2. Other income / expenses |
834.278,00 |
688.093,00 |
|
|
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 |
-250.283,00 |
-206.428,00 |
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS
ACCOUNT (VIII + IX + X + XI+ XII+ XIII) |
583.995,00 |
481.665,00 |
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A +
B + C) |
4.255.688,00 |
3.464.187,00 |
4.034.640,26 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
EXERCISE RESULT |
(INTERIM DIVIDEND) |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
33.385.500,00 |
18.100.974,16 |
3.464.946,87 |
-1.139.999,99 |
|
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) |
33.385.500,00 |
18.100.974,16 |
3.464.946,87 |
-1.139.999,99 |
|
I. Total recognized income and expenses |
|
|
4.102.558,39 |
|
|
II. Operations with partners or owners |
|
2.324.946,87 |
-3.464.946,87 |
-242.269,06 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
33.385.500,00 |
20.425.920,00 |
4.102.558,00 |
-1.382.269,00 |
|
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) |
33.385.500,00 |
20.425.920,00 |
4.102.558,00 |
-1.382.269,00 |
|
I. Total recognized income and expenses |
|
|
3.428.752,00 |
|
|
II. Operations with partners or owners |
|
2.720.289,00 |
-4.102.558,00 |
59.774,00 |
|
7. Other operations with partners or
owners |
|
2.720.289,00 |
-4.102.558,00 |
1.382.269,00 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
33.385.500,00 |
23.146.210,00 |
3.428.752,00 |
-1.322.495,00 |
|
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) |
33.385.500,00 |
23.146.210,00 |
3.428.752,00 |
-1.322.495,00 |
|
I. Total recognized income and expenses |
|
|
4.179.071,00 |
|
|
II. Operations with partners or owners |
|
2.106.256,00 |
-3.428.752,00 |
-1.016.932,00 |
|
4. (-) Dividends distribution |
|
|
|
-2.339.427,00 |
|
7. Other operations with partners or
owners |
|
2.106.256,00 |
-3.428.752,00 |
1.322.495,00 |
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
33.385.500,00 |
25.252.466,00 |
4.179.071,00 |
-2.339.427,00 |
|
NET WORTH CHANGES ( 3 /3) |
VALUE CHANGES ADJUSTMENTS |
TOTAL |
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
-1.493.774,65 |
52.317.646,39 |
|
|
|
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) |
-1.493.774,65 |
52.317.646,39 |
|
|
|
I. Total recognized income and expenses |
-67.918,13 |
4.034.640,26 |
|
|
|
II. Operations with partners or owners |
|
-1.382.269,06 |
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-1.561.693,00 |
54.970.016,00 |
|
|
|
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) |
-1.561.693,00 |
54.970.016,00 |
|
|
|
I. Total recognized income and expenses |
35.435,00 |
3.464.187,00 |
|
|
|
II. Operations with partners or owners |
|
-1.322.495,00 |
|
|
|
7. Other operations with partners or
owners |
|
|
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
-1.526.258,00 |
57.111.709,00 |
|
|
|
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) |
-1.526.258,00 |
57.111.709,00 |
|
|
|
I. Total recognized income and expenses |
76.617,00 |
4.255.688,00 |
|
|
|
II. Operations with partners or owners |
|
-2.339.428,00 |
|
|
|
4. (-) Dividends distribution |
|
-2.339.427,00 |
|
|
|
7. Other operations with partners or
owners |
|
-1,00 |
|
|
|
III. Other net worth variations |
|
|
|
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2011) |
-1.449.641,00 |
59.027.969,00 |
|
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2011 (12) |
31/12/2010 (12) |
|
A) CASH FLOW COMING FROM OPERATING
ACTIVITIES |
|
|
|
1. exercise result before taxes |
3.776.756,00 |
3.124.929,00 |
|
2. Results adjustments |
-3.533.537,00 |
-2.722.251,00 |
|
a) Amortization of fixed assets (+) |
250.385,00 |
247.765,00 |
|
b) Value correction for deterioration
(+/-) |
3.722.483,00 |
|
|
c) Change of Provisions (+/-) |
2.019,00 |
680.009,00 |
|
d) Grants allocation (-) |
|
-1.300,00 |
|
e) Results for decline and disposal of
fixed assets (+/-) |
90,00 |
|
|
g) Financial income (-) |
-271.488,00 |
-193.243,00 |
|
f) Financial expenses (+) |
2.330.575,00 |
1.431.941,00 |
|
j) Reasonable value variation on financial
instruments (+/-) |
363.730,00 |
|
|
k) Other income and expenses (-/+) |
-9.931.331,00 |
-4.887.423,00 |
|
3. Changes in current capital |
-5.244.709,00 |
-5.846.848,00 |
|
a) Stocks (+/-) |
|
17.493,00 |
|
b) Debtors and other receivable accounts
(+/-) |
-1.599.482,00 |
-51.359,00 |
|
c) Other current assets (+/-) |
-557,00 |
-1.372.675,00 |
|
d) Creditors and other payable accounts
(+/-) |
-24.925,00 |
-3.799.177,00 |
|
f) Other non-current assets and
liabilities (+/-) |
-3.619.745,00 |
-641.130,00 |
|
4. Other cash flow coming from operating
activities |
8.274.559,00 |
3.952.548,00 |
|
a) Interests payments (-) |
-2.330.575,00 |
-1.431.941,00 |
|
b) Dividends collections (+) |
9.931.331,00 |
4.887.423,00 |
|
c) Interests collections (+) |
271.488,00 |
193.243,00 |
|
d) Collections (payments) for profit tax
(+/-) |
402.315,00 |
303.823,00 |
|
5. Cash flow coming from operating
activities (1 + 2 + 3 + 4) |
3.273.069,00 |
-1.491.622,00 |
|
B) CASH FLOW COMING FROM INVESTING
ACTIVITIES |
|
|
|
6. Investment payments (-) |
-12.801.210,00 |
-7.166.098,00 |
|
a) Group and associated companies |
-10.796.494,00 |
-6.805.410,00 |
|
b) Intangible assets |
-179.831,00 |
-319.932,00 |
|
c) Tangible assets |
-19.962,00 |
-13.756,00 |
|
f) Non-current assets maintained for sale |
-1.804.923,00 |
-27.000,00 |
|
7. Disinvestment collections (+) |
992.953,00 |
12.948.552,00 |
|
a) Group and associated companies |
992.953,00 |
12.948.552,00 |
|
8. Cash Flow in investment activities (6 +
7) |
-11.808.257,00 |
5.782.454,00 |
|
C) CASH FLOW COMING FROM FINANCING
ACTIVITIES |
|
|
|
9. Net worth instruments collections and
payments |
|
|
|
10. Financial liabilities instruments
collections and payments |
10.943.284,00 |
-3.013.942,00 |
|
a) Issue |
10.943.284,00 |
|
|
2. Debts with bank
entities (+) |
91.964,00 |
|
|
3. Debts with group and
associated companies (+) |
10.851.320,00 |
|
|
b) Return and amortization of |
|
-3.013.942,00 |
|
2. Debts with bank
entities (-) |
|
-3.013.942,00 |
|
11. Payments for dividends and
remunerations of other net worth instruments |
-2.339.427,00 |
-1.322.495,00 |
|
a) Dividends (-) |
-2.339.427,00 |
-1.322.495,00 |
|
12. Cash Flow in financing activities (9 +
10 + 11) |
8.603.857,00 |
-4.336.437,00 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE /
REDUCTION (5 + 8 + 12 + D) |
68.669,00 |
-45.605,00 |
|
Cash or equivalents at the beginning of
the exercise |
137.505,00 |
183.110,00 |
|
Cash or equivalents at the end of the
exercise |
206.174,00 |
137.505,00 |
RATIOS
|
|
31/12/2011 (12) |
CHANGE % |
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
803.708,00 |
-17,78 |
977.547,00 |
174,10 |
-1.319.301,39 |
|
Working capital ratio |
0,01 |
0,00 |
0,01 |
200,00 |
-0,01 |
|
Soundness Ratio |
0,61 |
-7,58 |
0,66 |
-5,71 |
0,70 |
|
Average Collection Period (days) |
38 |
1.666,67 |
2 |
500,00 |
0 |
|
Average Payment Period (days) |
2.805 |
30,41 |
2.151 |
-27,97 |
2.986 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
104,80 |
-1,63 |
106,54 |
14,61 |
92,96 |
|
Quick Ratio (%) |
40,43 |
4,90 |
38,54 |
62,96 |
23,65 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
46,96 |
11,17 |
42,24 |
9,20 |
38,68 |
|
External Financing Average Cost |
0,04 |
33,33 |
0,03 |
0,00 |
0,03 |
|
Debt Service Coverage |
16,79 |
156,90 |
-29,51 |
-434,58 |
8,82 |
|
Interest Coverage |
4,26 |
21,02 |
3,52 |
1,15 |
3,48 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
20,94 |
245,79 |
-14,37 |
-132,31 |
44,47 |
|
Auto financing generated by Assets (%) |
2,80 |
295,80 |
-1,43 |
-132,65 |
4,38 |
|
Breakdown Point |
2,74 |
40,51 |
1,95 |
6,56 |
1,83 |
|
Average Sales Volume per Employee |
284.129,49 |
42,37 |
199.573,61 |
8,58 |
183.799,65 |
|
Average Cost per Employee |
83.665,24 |
-0,05 |
83.703,65 |
4,86 |
79.823,42 |
|
Assets Turnover |
0,13 |
30,00 |
0,10 |
0,00 |
0,10 |
|
Inventory Turnover (days) |
|
|
|
-100,00 |
54 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
8,48 |
75,21 |
4,84 |
8,04 |
4,48 |
|
Operating Profitability (%) |
8,69 |
71,06 |
5,08 |
7,63 |
4,72 |
|
Return on Equity (ROE) (%) |
6,24 |
17,26 |
5,33 |
-24,93 |
7,10 |
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 |
85,02 |
90,45 |
-5,43 |
|
A) CURRENT ASSETS |
14,98 |
9,55 |
5,43 |
|
LIABILITIES |
|||
|
A) NET WORTH |
50,43 |
69,44 |
-19,01 |
|
B) NON CURRENT LIABILITIES |
35,28 |
20,64 |
14,64 |
|
C) CURRENT LIABILITIES |
14,29 |
9,92 |
4,37 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2011) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,26 |
92,02 |
7,24 |
|
Other operating income |
0,74 |
7,98 |
-7,24 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-0,75 |
-4,27 |
3,52 |
|
Variation in stocks of finished goods and
work in progress |
|
-1,83 |
|
|
GROSS MARGIN |
99,25 |
93,90 |
5,35 |
|
Other operating costs |
-5,40 |
-24,20 |
18,80 |
|
Labour cost |
-29,23 |
-19,37 |
-9,86 |
|
GROSS OPERATING RESULT |
64,62 |
50,33 |
14,29 |
|
Amortization of fixed assets |
-1,59 |
-3,61 |
2,02 |
|
Deterioration and result for fixed assets
disposal |
0,00 |
0,67 |
-0,67 |
|
Other expenses / income |
|
-1,82 |
|
|
NET OPERATING RESULT |
63,03 |
45,57 |
17,46 |
|
Financial result |
-39,04 |
-23,30 |
-15,74 |
|
RESULT BEFORE TAX |
23,99 |
22,27 |
1,72 |
|
Taxes on profits |
2,56 |
2,04 |
0,52 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
26,55 |
24,31 |
2,24 |
|
Exercise result coming from discontinued operations
net of taxes |
|
0,00 |
|
|
NET RESULT |
26,55 |
24,31 |
2,24 |
|
Amortization of fixed assets |
-1,59 |
-3,61 |
2,02 |
|
Deterioration and provisions variation |
0,00 |
-2,55 |
2,55 |
|
|
28,14 |
30,47 |
-2,33 |
Main Ratios
Figures given in €
|
|
COMPANY (2011) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
803.708,00 |
-14.292.537,50 |
711.795,06 |
11.812.424,65 |
|
Working capital ratio |
0,01 |
-0,06 |
0,00 |
0,07 |
|
Soundness Ratio |
0,61 |
0,37 |
0,60 |
0,97 |
|
Average Collection Period (days) |
38 |
12 |
46 |
109 |
|
Average Payment Period (days) |
2.805 |
256 |
1.107 |
2.672 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
104,80 |
57,84 |
115,26 |
200,74 |
|
Quick Ratio (%) |
40,43 |
0,87 |
16,50 |
87,69 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
46,96 |
15,61 |
43,26 |
65,89 |
|
External Financing Average Cost |
0,04 |
0,02 |
0,04 |
0,05 |
|
Debt Service Coverage |
16,79 |
-0,12 |
2,83 |
9,83 |
|
Interest Coverage |
4,26 |
0,57 |
2,22 |
14,19 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
20,94 |
-2,47 |
36,97 |
81,95 |
|
Auto financing generated by Assets (%) |
2,80 |
-0,33 |
4,26 |
7,96 |
|
Breakdown Point |
2,74 |
0,98 |
1,60 |
5,40 |
|
Average Sales Volume per Employee |
284.129,49 |
185.770,37 |
562.962,83 |
1.624.779,13 |
|
Average Cost per Employee |
83.665,24 |
-73.898,41 |
-63.063,53 |
42.040,67 |
|
Assets Turnover |
0,13 |
0,05 |
0,09 |
0,20 |
|
Inventory Turnover (days) |
0 |
0 |
0 |
0 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
8,48 |
0,84 |
4,86 |
8,19 |
|
Operating Profitability (%) |
8,69 |
1,09 |
4,92 |
8,87 |
|
Return on Equity (ROE) (%) |
6,24 |
-1,50 |
7,78 |
14,35 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.