MIRA
INFORM REPORT
|
Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROIG CERAMICA SA ”ROCERSA” |
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Registered Office : |
Camino Vell De Onda-Castellon (Pd Madrigal), S/N 12540 Villarreal Castellón |
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Country : |
Spain |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
08.09.1977 |
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Legal Form : |
Joint-stock Company |
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Line of Business : |
Manufacturer of bricks tiles & construction products in baked clay |
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No. of Employees : |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Bankrupt |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Spain
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
ROIG CERAMICA SA ”ROCERSA”
CIF/NIF: A12023693
Company situation: Bankruptcy (Date: 03/06/2011)
EXECUTIVE SUMMARY
Identification
Current Business Name: ROIG CERAMICA SA
Commercial name: WHITESTONE; REDSTONE
Other names: YES
Current Address: CAMINO VELL DE ONDA-CASTELLON
(PD MADRIGAL), S/N
Branches: 3
Telephone number: 964506242 Fax: 964531428
URL: www.rocersa.com , www.rocersa.net
, www.roigceramica.com , www.roigceramica.net
Corporate e-mail: rocersa@rocersa.es
Trade Risk
Company situation: Bankruptcy (Date: 03/06/2011)
Incidents: YES
R.A.I.: YES
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: YES
Financial Information
Latest sales known (2011): 31.197.349,09
€ (Own Sources)
Balance sheet latest sales (2009): 43.174.593,17 € (Mercantile Register)
Result: -10.964.311,14 €
Total Assets: 126.827.528,35 €
Share capital: 480.808,00 €
Employees: 215
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 08/09/1977
Activity: Mfg. of bricks tiles &
construction products in baked clay
NACE 2009 CODE: 2331
International Operations: Exports
Corporate Structure
Bankruptcy Receiver:
Participations: 4
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2011
Latest act published in BORME: 20/02/2013 Re-elections
Latest press article: 17/06/2011 EXPANSION DE
VALENCIA (INSOLVENCY PROCEEDINGS)
Bank Entities: There are
Company
situation
Bankruptcy (Date: 03/06/2011)
Summary
LEGAL ACTIONS: 1 ( Last:03/06/2011 )
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|
|
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Insolvency Proceeding: |
1 |
Current Status: INSOLVENCY PROCEEDINGS VOLUNTARY |
|
Civil Court: |
0 |
|
|
Labour Courts: |
0 |
|
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY:
4 Company / Companies in Insolvency Proceedings.
Last Legal Actions
figures expressed in €
INSOLVENCY PROCEEDING
|
DATE |
CLAIM TYPE |
INCIDENCE STATUS |
ASSETS |
LIABILITIES |
|
03/06/2011 |
INSOLVENCY PROCEEDINGS |
INSOLVENCY PROCEEDINGS/APPOINTMENT OF BANKRUPTCY RECEIVERS |
|
|
Details of the Latest Legal Actions
figures expressed in €
INSOLVENCY PROCEEDING
|
|
|
|
Proceeding |
INSOLVENCY PROCEEDINGS |
|
Conducted in |
CASTELLÓN DE LA PLANA, MERCANTILE COURT N. 1 |
|
Writ Number |
60/2011 |
|
Complaint Date |
03/06/2011 |
Record of the claim
|
PHASE |
INSOLVENCY
PROCEEDINGS/APPOINTMENT OF BANKRUPTCY RECEIVERS |
|
|
Date of the Edict: 09/08/2011 |
|
|
Source: Published in BORME: , page 40.535 |
|
|
Observations: ESCRIVA FABRA JOSE FERNANDO * CASTELLANO
PERIS FEDERICO |
|
PHASE |
INSOLVENCY
PROCEEDINGS / DECLARATION |
|
|
Date of the Edict: 27/06/2011 |
|
|
Source: Published in B.O.E. N. 152, page 71.678 |
|
PHASE |
DECLARATION PHASE
OF THE INSOLVENCY PROCEEDINGS |
|
|
Date of the Edict: 27/06/2011 |
|
|
Source: Published in B.O.E. N. 152, page 71.678 |
|
CHARACTERISTICS OF THE OPERATION |
NON-PAYMENT CHARACTERISTICS |
||||||
|
Creditor Type |
Product |
Amount of the operations |
Situation |
Number of non-payments |
Non-payment amount |
Date of the first non-payment |
Date of the last non-payment |
|
Bank |
Personal Loans |
- |
> 180 days from the first expired default |
10 |
1.410.844,86 |
31/01/2011 |
31/01/2013 |
|
Bank |
Multipurpose Policy |
- |
> 180 days from the first expired default |
148 |
449.251,60 |
27/04/2011 |
25/08/2011 |
|
Credit Insurance Company |
Credit Policy |
- |
> 180 days from the first expired default |
27 |
317.802,25 |
30/01/2011 |
15/05/2011 |
|
Bank |
Personal Loans |
- |
> 180 days from the first expired default |
10 |
213.460,27 |
31/01/2011 |
31/01/2013 |
|
Bank |
Credit Policy |
3.993.905,07 |
> 180 days from the first expired default |
- |
143.905,07 |
01/02/2011 |
01/02/2011 |
|
Bank |
Personal Loans |
- |
> 180 days from the first expired default |
3 |
31.042,98 |
28/02/2011 |
30/03/2011 |
|
Bank |
Discount Line |
- |
> 180 days from the first expired default |
11 |
17.753,70 |
30/03/2011 |
27/06/2011 |
|
Credit Cooperatives |
Mortgage Loan |
590.789,12 |
> 180 days from the first expired default |
3 |
15.280,23 |
29/10/2010 |
06/05/2011 |
|
Credit Cooperatives |
Mortgage Loan |
9.210,88 |
> 180 days from the first expired default |
3 |
286,56 |
29/10/2010 |
06/05/2011 |
|
Saving Banks |
Discount Line |
- |
> 180 days from the first expired default |
- |
248,56 |
30/04/2011 |
30/04/2011 |
|
|
|
|
|
|
2.599.876,08 |
|
|
This information comes from Experian Bureau Empresarial Service,
property of Experian Bureau de Crédito S.A. It could just be used for
businessmen or professionals and for the own aims of the business, and could not
be transferred or transmitted to third parties, copied, duplicate or reproduce,
nor incorporate to any owned or external database, or reuse it in any direct or
indirect way. Experian Bureau de Crédito S.A. may file you for damages it may
suffer in case of breaching any of the afore mentioned obligations. Experian
would not be responsible of the lack of accuracy in the supplied information
when it coincides with the one supplied by the creditor entities.
R.A.I.
|
|
|
|
NUMBER OF ENTRIES FOUND |
110 |
|
TOTAL AMOUNT |
1.636.599,22 |
|
DATE OF THE LAST ENTRY |
07/07/2012 |
|
DATE AND TIME OF THE CONSULTATION |
21/02/2013 13:02:37 |
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
The shaded amounts in the following financial statements have been converted to the norms established in the PGC2007 derived from RD 1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises initiated from 1/01/08.
Figures given in €
|
|
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
73.589.319,36 |
58,02 |
67.805.852,15 |
47,46 |
50.972.577,78 |
40,89 |
|
B) CURRENT ASSETS |
53.238.208,99 |
41,98 |
75.068.620,40 |
52,54 |
73.675.912,10 |
59,11 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
6.143.680,22 |
4,84 |
16.301.361,75 |
11,41 |
21.071.106,53 |
16,90 |
|
B) NON CURRENT LIABILITIES |
78.062.093,05 |
61,55 |
48.836.658,46 |
34,18 |
39.922.551,10 |
32,03 |
|
C) CURRENT LIABILITIES |
42.621.755,08 |
33,61 |
77.736.452,34 |
54,41 |
63.654.832,24 |
51,07 |
Profit and loss account analysis 
Figures given in €
|
|
2011 OWN SOURCES |
2010 OWN SOURCES |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
31.197.349,09 |
43.352.918,51 |
43.174.593,17 |
|
|
GROSS MARGIN |
|
|
18.312.672,06 |
42,42 |
|
EBITDA |
|
|
-3.845.916,65 |
-8,91 |
|
EBIT |
|
|
-9.719.345,84 |
-22,51 |
|
NET RESULT |
-22.221.119,00 |
-14.034.190,96 |
-10.964.311,14 |
-25,40 |
|
EFFECTIVE TAX RATE (%) |
|
|
-30,36 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
58,02 |
59,30 |
-1,28 |
|
A) CURRENT ASSETS |
41,98 |
40,70 |
1,28 |
|
LIABILITIES |
|||
|
A) NET WORTH |
4,84 |
49,90 |
-45,06 |
|
B) NON CURRENT LIABILITIES |
61,55 |
24,56 |
36,99 |
|
C) CURRENT LIABILITIES |
33,61 |
25,54 |
8,07 |
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
SALES |
96,47 |
98,31 |
-1,84 |
|
GROSS MARGIN |
40,92 |
58,10 |
-17,18 |
|
EBITDA |
-8,59 |
15,18 |
-23,77 |
|
EBIT |
-21,72 |
9,27 |
-30,99 |
|
NET RESULT |
-24,50 |
3,50 |
-28,00 |
Sector Composition
Compared sector (NACE 2009): 2331
Number of companies: 14
Size (sales figure): > 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 |
-22.221.119,00 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Goodwill reserve |
0,00 |
|
Voluntary reserves |
0,00 |
Special reserves |
0,00 |
|
Other reserves disposable at will |
0,00 |
Voluntary reserves |
0,00 |
|
Total of Amounts to be distributed |
-22.221.119,00 |
Dividends |
0,00 |
|
|
|
Carry over and others |
0,00 |
|
|
|
Compensation of previous exercises losses |
-22.221.119,00 |
|
|
|
Application total |
-22.221.119,00 |
Auditing
Source: filing of annual financial statement 2009
Auditors’ opinion: FAVOURABLE
Auditor: ROCA MONFORT JULIO
Auditing fees: 9.500,00 €
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:
CAMINO VELL DE ONDA-CASTELLON (PD MADRIGAL), S/N
12540 VILLARREAL
CASTELLÓN
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CAMINO FOYES FERRAES |
12110 |
ALCORA |
Castellón |
|
MANUEL COBO CALLEJA, 2 |
28947 |
FUENLABRADA |
Madrid |
|
CALLE AGRICULTURA, 19 |
47610 |
ZARATAN |
Valladolid |
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE RIU |
12540 |
VILA-REAL |
Castellón |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
|
|
|
|
|
Distribution of the administration board |
|
|
Insolvency Proceeding related Positions : 2 members (latest
change: 29/07/2011) Governing body : 2 members (latest change:
31/01/2007) Other Positions : 9 (latest change: 06/05/2011) Auditor : 4 (latest change: 13/02/2013) Operative Board Members : 7 (latest change: 26/06/2012) Non-current positions : 12 (latest change: 27/10/2009) |
|
|
Main Board members, Directors and Auditor
Insolvency Proceeding related Positions
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
BANKRUPTCY RECEIVER |
ESCRIVA FABRA, JOSE FERNANDO |
29/07/2011 |
|
BANKRUPTCY RECEIVER |
CASTELLANO PERIS, FEDERICO |
29/07/2011 |
|
|
|
|
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
JOINT AND SEVERAL ADMINISTRATOR |
LLOP GARCIA, PEDRO TOMAS |
31/01/2007 |
|
JOINT AND SEVERAL ADMINISTRATOR |
PIQUER SAURA, ANTONIO |
31/01/2007 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
AGUILELLA LLINARES, JORGE |
27/10/2009 |
|
AUDITOR |
ROCA MONFORT, JULIO |
27/10/2009 |
|
CONSOLIDATED ACCOUNTS AUDITOR |
MONFORT JULIO, ROCA |
06/05/2011 |
|
CONSOLIDATED ACCOUNTS AUDITOR |
ROCA MONFORT, JULIO |
13/02/2013 |
|
POSITION |
NAME AND SURNAME |
|
General Manager |
LLOP GARCIA, PEDRO TOMAS |
|
Financial Manager |
ABELLO, PERE |
|
Human Resources Director |
SENDRA, SERGIO |
|
Commercial Director |
FERNANDEZ, JAVIER |
|
Purchases Director |
BROCH PITARCH, PASCUAL |
|
Exports Director |
LLOP, ALFREDO |
|
IT Director |
ABELLO, JORDI |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PIQUER SAURA ANTONIO |
|
48,25 |
OWN SOURCES |
26/06/2012 |
|
|
LLOP GARCIA PEDRO TOMAS |
|
48,25 |
OWN SOURCES |
26/06/2012 |
|
|
ROIG CERAMICA SA |
A12023693 |
Indef. |
MERCANTILE REGISTER |
31/12/2011 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
KERALITE CARTERA SL |
B12597050 |
100,00 |
OWN SOURCES |
26/06/2012 |
|
|
TIERRA ATOMIZADA, SA |
A12095295 |
30,00 |
OWN SOURCES |
26/06/2012 |
|
|
ROIG CERAMICA SA |
A12023693 |
Indef. |
MERCANTILE REGISTER |
31/12/2011 |
|
|
VILLARREAL CLUB DE FUTBOL, SOCIEDAD ANONIMA DEPORTIVA |
A12362927 |
Indef. |
OWN SOURCES |
09/01/2013 |
Company with rating inferior to 7
|
|
BUSINESS NAME |
SHAREHOLDER |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
VIVAGRES SOCIEDAD ANONIMA |
KERALITE CARTERA SL |
A12432043 |
100,00 |
B.O.R.M.E. |
22/06/2004 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
KERALITE NULES S.L. (EXTINGUIDA) |
B12597043 |
100,00 |
B.O.R.M.E. |
26/01/2009 |
|
|
INMOBILIARIA DEL MIJARES SA (EXTINGUIDA) |
A12060463 |
100,00 |
B.O.R.M.E. |
27/01/2000 |
|
|
BLAU CERAMICA SA (EXTINGUIDA) |
A12096772 |
100,00 |
MERCANTILE REGISTER |
27/01/2000 |
Company with rating inferior to 7
POTENTIAL LINKS
Name Search in the Internet
Search Criterion: ”ROIG CERAMICA SA”
URL: www.construmatica.com
ROIG CERAMICA, S.A. | Construmática Datos e información sobre ROIG CERAMICA, S.A.,
actividades que realiza, catálogos de ROIG CERAMICA, S.A., marcas que
distribuye, productos que gestiona ...
URL: www.rocersa.es
ROCERSA | PAVIMENTOS Y AZULEJOS żConoces nuestras maderas cerámicas? IMGP5509.
Rocersa rompe esquemas con su nuevo formato en 25x75 y crea un universo de
diseńo con un amplio ...
URL: spaintiles.info
Encuentra tu cerámica: ROCERSA Razón social: ROIG CERAMICA, S.A.. Marca
comercial: ROCERSA. Ańadida a mi cesta ... Actividad principal. Fabricante de
baldosas cerámicas ...
BUSINESS INFORMATION
Incorporation date: 08/09/1977
Activity beginning date: 01/04/1978
Establishment date: 01/01/1977
Founder’s Name: LA TITULAR ES LA FUNDADORA INICIAL DEL NEGOCIO
Code: 1241200
Activity: Mfg. of bricks tiles & construction products in
baked clay
NACE 2009 CODE: 2331
NACE 2009 Activity: Manufacture of ceramic tiles and flags
Business: Manufacture
and sale of ceramic tile, using raw materials purchased in the local market and developing their products by single firing OVENS
Environmental information: YES (Page 55 -
56) Annual financial report 2011
Latest employees figure: 215 (2012)
% of fixed employees: 85,61%
% of temporary employees: 14,39%
% of men: 83,65%
% of women: 16,35%
Employees evolution
|
|
|
|
Source: Annual financial report 2011
|
CATEGORY |
AVERAGE NUMBER OF EMPLOYEES |
MEN |
WOMEN |
|
Members of the board |
2 |
2 |
|
|
Other managers |
5 |
5 |
|
|
Support intellectuals and scientists, technicians and professionals |
9 |
7 |
2 |
|
Administrative employees |
10 |
5 |
5 |
|
Sales representatives and similar |
16 |
10 |
6 |
|
Other qualified employees |
65 |
25 |
1 |
|
Non qualified employees |
41 |
33 |
3 |
SALES
Export Percentage: 66%
Exports to: UE , RUSIA Y PAISES ARABES
National Distribution: 34%
•
• 100% of its turnover attributable
to the sale of floor and wall
tiles.
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO SANTANDER, S.A. |
0070 |
AV DE LA MURA 29 APDO. 00001 |
VILLARREAL |
Castellón |
|
BANCO DE VALENCIA, S.A. |
0559 |
CONDE ALBAY, 12 |
VILLARREAL |
Castellón |
Discount facilities: 1
Credit policy: 0
Mortgage loan: 0
Loans with no real security: 0
|
|
|
|
Debt type: Discount
facilities |
Granted limit:19.732.800,00 € Used limit:3.726.704,13
€ Available limit:16.006.095,87
€ 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 |
|
|
|
0,00 |
693.922,15 |
0,00 |
Grants
|
|
|
|
Grant type: Other grants (grouped amounts or not
classified) |
Amount received in the exercise: 1.092,49 € Amount pending collection:
4.461,37 € Source: Filed
Accounts (2011) |
|
|
|
Brand name: ROCERSA (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 19/06/2008
Brand name: NEOTECH BY ROCERSA (Valid)
Type: DENOMINATIVE Scope: NATIONAL
Date: 10/09/2007
Brand name: CONEKTA BY ROCERSA (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 27/11/2006
Brand name: BLAU CERŁMICA GRUPO ROCERSA (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 09/08/2004
Brand name: ECOLOGIC TILE BY ROCERSA (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 13/05/2002
LEGAL STRUCTURE
Constitution Data
Register Date: 01/04/1978
Legal form: Joint-stock Company
Share capital: 480.808,00 €
Paid-up capital: 480.808,00 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2011)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 34 (Last: 20/02/2013, first:
22/09/1992)
Acts on capital: 1 (Last: 25/11/1999)
Acts on creation: 0
Acts on filed accounts: 23 (Last: 03/01/2012, first:
18/09/1990)
Acts on identification: 0
Acts on Information: 7 (Last: 31/01/2007, first:
22/09/1992)
Acts on proceedings: 8 (Last: 09/08/2011, first:
20/07/1999)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Re-elections |
20/02/2013 |
84132 |
Castellón |
|
Re-elections |
20/02/2013 |
84131 |
Castellón |
|
Re-elections |
14/01/2013 |
15277 |
Castellón |
|
Annual Filed Accounts (2010) consolidated |
03/01/2012 |
514 |
Castellón |
|
Appointments |
09/08/2011 |
331396 |
Castellón |
|
Insolvency Proceeding |
09/08/2011 |
331396 |
Castellón |
|
Insolvency Proceeding |
09/08/2011 |
331396 |
Castellón |
|
Insolvency Proceeding |
09/08/2011 |
331396 |
Castellón |
|
Insolvency Proceeding |
09/08/2011 |
331396 |
Castellón |
|
Annual Filed Accounts (2009) consolidated |
18/07/2011 |
214703 |
Castellón |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 1 (Last: 17/06/2011)
Business lines: 0
Historical press releases: 9 (Last: 21/06/2005, first:
01/05/1996)
Latest press article published
17/06/2011 EXPANSION DE VALENCIA - INSOLVENCY
PROCEEDINGS
In the absence of a new refinancing agreement and the situation that
revenues do not cover the debts,
ROCERSA (ROIG CERAMICA)
filed for voluntary bankruptcy, which was approved by the Commercial Court of Castellón
on 03/06/11 .
The bankruptcy liabilities
amounted to 130 million, corresponding to most banks
and savings banks. Only the refinancing agreement signed in 2009 provided for an amount of 76.03 million
euros.
The intention of the
company to ensure its viability
has been an increase in orders in the last month and has activated its second
furnace and has incorporated that
staff had dispensed.
21/06/2005 EXPANSIÓN - AGREEMENTS BETWEEN
COMPANIES
SECTOR COMPANIES ROIG CERAMIC CERAMIC
(ROCERSA), HALCON, INCOAZUL SPRAY AND
EARTH, BEYOND THE ESTATE FIRM NB promoters,
have joined to present a development
plan that includes the development of an area of 1.5 mm. Square
meters FOR INDUSTRIAL USE IN THE MUNICIPALITY ALCORA Castellon. OPERATION
OF THE PERFORMANCE involve an investment of 10 MM. EUROS ONLY IN THE ESTATE OF THE
LAND. To this figure is added to the investment that each company decides to undertake in the plots correspond.
01/03/2002 LEVANTE EL MERCANTIL
VALENCIANO - BUSINESS PRIZES
THE SDAD. SPANISH CERAMIC
AND GLASS WITH PRIZE
THE 28/02/02 ALFA
GOLD AWARD TO
THIS COMPANY, which recognizes innovation Castellon INDUSTRY.
01/02/2002 ECONOMÍA 3 - GENERAL INFORMATION
THIS CIA. MANUFACTURER OF
FLOORS AND CERAMIC
COATINGS, exports 60% of its production to a total of 65 countries on five continents, where has sales offices in France, Canada, MEXICO, Portugal, Czech
Republic, Germany, England and America. TO COVER THEIR NATIONAL
DISTRIBUTION, THE COMPANY HAS THREE FACTORIES Castellon
in Castellon: VILLARREAL, NULES And ALCORA,
and warehouses and sales offices in
all communities in SPAIN. Ceramic ROCERSA billed
60.70 MM. Euros
the previous year, invested a
total of 6.61 MM. EUROS IN IMPROVEMENTS AND
EXTENSIONS OF FACILITIES. IN 2001
the investment totaled 7.21 MM
20/04/2000 EXPANSIÓN - MARKET SHARE
According to a study by the consulting firm KPMG between companies more profitable ceramic tile features not only SALONI CERAMICS, CERAMIC
PEŃARROYA, GRESPANIA, CERAMIC ROIG VENIS.
Complementary Information
Financial Information
The balance of the commercial
register closed on 31/12/2010
and 31/12/2011 (Deposit 2010 and 2011) is
available at INFORMS, but has not
been charged in their accounts
to present the following anomaly:
The Provision of services starting this incorrectly
presented with negative
amount.
Current situation
According to Section II Borme
dated 20/11/2008 that
company is in the process of
absorbing NULES SL NIF B12597043 Keralite.
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 05/01/2011.
The shaded amounts in the following financial statements have been converted to the norms established in the PGC2007 derived from RD 1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises initiated from 1/01/08.
This theoretical conversion exercise has been carried out from the financial statements contained in the accounting information presented on the Mercantile Register, and elaborated under the accounting norms and principles collected in PGC90 derived from RD 1643/1990, not taking into account any other type of information; for this reason the conversion exercise could include certain inaccuracies.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
73.589.319,36 |
58,02 |
67.805.852,15 |
47,46 |
50.972.577,78 |
40,89 |
|
I. Intangible assets |
2.471.335,27 |
1,95 |
2.734.142,53 |
1,91 |
2.612.377,03 |
2,10 |
|
1. Development |
2.067.966,38 |
1,63 |
2.284.713,47 |
1,60 |
|
|
|
4. Goodwill |
361.956,72 |
0,29 |
361.956,72 |
0,25 |
|
|
|
5. Software |
41.412,17 |
0,03 |
87.472,34 |
0,06 |
|
|
|
II. Tangible fixed assets |
56.822.825,01 |
44,80 |
58.154.325,27 |
40,70 |
46.738.011,45 |
37,50 |
|
1. Property, plant and equipment |
19.566.626,14 |
15,43 |
19.953.900,45 |
13,97 |
|
|
|
2. Technical fittings and other tangible assets |
37.252.256,23 |
29,37 |
37.874.109,51 |
26,51 |
|
|
|
3. Fixed assets in progress and advances |
3.942,64 |
0,00 |
326.315,31 |
0,23 |
|
|
|
III. Real-estate investments |
1.067.672,96 |
0,84 |
1.481.596,18 |
1,04 |
|
|
|
1. Lands |
384.566,56 |
0,30 |
772.216,46 |
0,54 |
|
|
|
2. Buildings |
683.106,40 |
0,54 |
709.379,72 |
0,50 |
|
|
|
IV. Long term investments in associated and affiliated companies |
4.891.276,81 |
3,86 |
1.544.531,61 |
1,08 |
1.488.211,15 |
1,19 |
|
1. Net worth instruments |
3.741.276,81 |
2,95 |
1.544.531,61 |
1,08 |
1.488.211,15 |
1,19 |
|
2. Credits to companies |
1.150.000,00 |
0,91 |
|
|
|
|
|
V. Long Term Financial Investments |
184.471,18 |
0,15 |
127.301,08 |
0,09 |
133.978,15 |
0,11 |
|
1. Net worth instruments |
98.755,33 |
0,08 |
32.585,23 |
0,02 |
32.585,23 |
0,03 |
|
5. Other financial assets |
85.715,85 |
0,07 |
94.715,85 |
0,07 |
101.392,92 |
0,08 |
|
VI. Assets by deferred taxes |
8.151.738,13 |
6,43 |
3.763.955,48 |
2,63 |
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
53.238.208,99 |
41,98 |
75.068.620,40 |
52,54 |
73.675.912,10 |
59,11 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
23.378.550,91 |
18,43 |
31.903.569,66 |
22,33 |
25.861.347,59 |
20,75 |
|
1. Goods available for sale |
2.020.461,60 |
1,59 |
3.504.365,26 |
2,45 |
|
|
|
2. Raw material inventory |
3.385.078,57 |
2,67 |
4.601.103,48 |
3,22 |
|
|
|
3. Work in Progress |
35.312,48 |
0,03 |
251.028,00 |
0,18 |
|
|
|
b) Short production cycle |
35.312,48 |
0,03 |
251.028,00 |
0,18 |
|
|
|
4. Finished goods |
17.937.698,26 |
14,14 |
23.547.072,92 |
16,48 |
|
|
|
b) Short production cycle |
17.937.698,26 |
14,14 |
23.547.072,92 |
16,48 |
|
|
|
III. Trade Debtors and other receivable accounts |
21.635.070,31 |
17,06 |
26.005.079,34 |
18,20 |
32.965.194,13 |
26,45 |
|
1. Clients |
20.611.534,50 |
16,25 |
25.135.458,38 |
17,59 |
24.257.496,64 |
19,46 |
|
b) Clients for sales and short term services
rendering |
20.611.534,50 |
16,25 |
25.135.458,38 |
17,59 |
|
|
|
2. Clients group and associated companies |
315.945,65 |
0,25 |
|
|
4.414.886,85 |
3,54 |
|
3. Other debts |
|
|
|
|
1.951.346,98 |
1,57 |
|
4. Staff |
26.023,17 |
0,02 |
31.482,49 |
0,02 |
46.380,06 |
0,04 |
|
5. Assets by current taxes |
206.538,36 |
0,16 |
134.597,83 |
0,09 |
|
|
|
6. Other credits with the Public Administrations |
475.028,63 |
0,37 |
703.540,64 |
0,49 |
2.295.083,60 |
1,84 |
|
IV. Short term investments in associated and affiliated companies |
798.312,86 |
0,63 |
4.652.929,52 |
3,26 |
|
|
|
5. Other financial assets |
798.312,86 |
0,63 |
4.652.929,52 |
3,26 |
|
|
|
V. Short term financial investments |
5.472.759,73 |
4,32 |
11.557.593,97 |
8,09 |
13.831.418,35 |
11,10 |
|
1. Net worth instruments |
858.485,40 |
0,68 |
1.267.464,36 |
0,89 |
5.735.592,99 |
4,60 |
|
2. Credits to companies |
|
|
21.165,77 |
0,01 |
8.087.514,25 |
6,49 |
|
3. Debt representative values |
1.160.530,29 |
0,92 |
858.251,17 |
0,60 |
|
|
|
5. Other financial assets |
3.453.744,04 |
2,72 |
9.410.712,67 |
6,59 |
8.311,11 |
0,01 |
|
VI. Short term periodifications |
474.905,33 |
0,37 |
108.067,91 |
0,08 |
240.379,10 |
0,19 |
|
VII. Cash and equivalents |
1.478.609,85 |
1,17 |
841.380,00 |
0,59 |
777.572,93 |
0,62 |
|
1. Treasury |
1.478.609,85 |
1,17 |
841.380,00 |
0,59 |
777.572,93 |
0,62 |
|
TOTAL ASSETS (A + B) |
126.827.528,35 |
100,00 |
142.874.472,55 |
100,00 |
124.648.489,88 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process “Goodwill” have
been identified for which there are not enough information so as to conclude
whether or not value deterioration adjustments are necessaries for this
exercise, nor could it be identified the amortization expenses for the
mentioned exercise. The amount of the Goodwill at the closing of the subsequent
exercise reaches %1.
In the conversion process the amount of
goods obtained through leasing, that under PGC90 reaches %1 of the expenses,
has been maintained in the item “Intangible Assets”, as it is not possible to
estimate in a precise way its accumulated amortization, as, according to they
nature, they should be registered in the Tangible Assets.
In the conversion process part of the
item “Property, plant and equipment” that under PGC2007 should be classified
within the item “Real-estate Investments” that in the subsequent exercise
presents a balance of %1.
The valuation norms applicable to
financial instruments has changed substantially and, for this reason the
conversion of financial statements from PGC90 to PGC2007 could include notable
inaccuracy.
In the conversion process there has
been estimated that the total item 143070 “Provisions on debtors” according to
PGC90, for %1, is associated to “Clients for sales and services rendering”.
In the conversion process there has
been estimated that the total debit balance with the Public Administrations in
the Financial Statements of the previous exercise corresponds to the balances
collected in the item “Other credits with the Public Administrations” under
PGC2007.
Net Worth and Liabilities
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
6.143.680,22 |
4,84 |
16.301.361,75 |
11,41 |
21.071.106,53 |
16,90 |
|
A-1) Equity |
6.269.904,02 |
4,94 |
16.110.182,02 |
11,28 |
20.951.122,24 |
16,81 |
|
I. Capital |
480.808,00 |
0,38 |
480.808,00 |
0,34 |
480.808,00 |
0,39 |
|
1. Authorized capital |
480.808,00 |
0,38 |
480.808,00 |
0,34 |
480.808,00 |
0,39 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
17.645.959,88 |
13,91 |
16.413.294,25 |
11,49 |
20.069.625,68 |
16,10 |
|
1. Legal and statutory |
96.161,94 |
0,08 |
96.161,94 |
0,07 |
96.161,94 |
0,08 |
|
2. Other funds |
17.549.797,94 |
13,84 |
16.317.132,31 |
11,42 |
19.973.463,74 |
16,02 |
|
IV. (Net worth own shares and participations) |
-892.552,72 |
-0,70 |
-892.552,72 |
-0,62 |
-892.552,72 |
-0,72 |
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
-10.964.311,14 |
-8,65 |
108.632,49 |
0,08 |
1.293.241,28 |
1,04 |
|
VIII. (Interim dividend) |
|
|
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
-157.235,06 |
-0,12 |
109.140,56 |
0,08 |
|
|
|
I. Financial assets available for sale |
-157.235,06 |
-0,12 |
109.140,56 |
0,08 |
|
|
|
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 |
31.011,26 |
0,02 |
82.039,17 |
0,06 |
119.984,30 |
0,10 |
|
B) NON CURRENT LIABILITIES |
78.062.093,05 |
61,55 |
48.836.658,46 |
34,18 |
39.922.551,10 |
32,03 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
77.372.539,60 |
61,01 |
48.705.398,29 |
34,09 |
39.871.129,26 |
31,99 |
|
2. Debts with bank entities |
74.016.725,70 |
58,36 |
47.741.348,14 |
33,41 |
39.871.129,26 |
31,99 |
|
3. Financial leasing creditors |
756.424,28 |
0,60 |
964.050,15 |
0,67 |
|
|
|
5. Other financial liabilities |
2.599.389,62 |
2,05 |
|
|
|
|
|
III. Long term debts with associated and affiliated companies |
600.000,00 |
0,47 |
|
|
|
|
|
IV. Liabilities by deferred taxes |
89.553,45 |
0,07 |
131.260,17 |
0,09 |
51.421,84 |
0,04 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
42.621.755,08 |
33,61 |
77.736.452,34 |
54,41 |
63.654.832,24 |
51,07 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
17.325.742,76 |
13,66 |
53.463.769,15 |
37,42 |
32.548.290,03 |
26,11 |
|
2. Debts with bank entities |
16.378.575,20 |
12,91 |
53.252.653,21 |
37,27 |
32.548.290,03 |
26,11 |
|
3. Financial leasing creditors |
209.796,59 |
0,17 |
194.371,58 |
0,14 |
|
|
|
5. Other financial liabilities |
737.370,97 |
0,58 |
16.744,36 |
0,01 |
|
|
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
25.296.012,32 |
19,95 |
24.272.683,19 |
16,99 |
31.106.542,21 |
24,96 |
|
1. Suppliers |
15.927.257,08 |
12,56 |
15.140.188,41 |
10,60 |
27.392.233,94 |
21,98 |
|
b) Short term suppliers |
15.927.257,08 |
12,56 |
15.140.188,41 |
10,60 |
|
|
|
2. Suppliers group and associated companies |
3.627.417,49 |
2,86 |
1.564.926,08 |
1,10 |
2.030.345,58 |
1,63 |
|
3. Different creditors |
4.181.026,18 |
3,30 |
5.379.533,37 |
3,77 |
|
|
|
4. Staff (pending remunerations) |
934.819,80 |
0,74 |
1.167.659,48 |
0,82 |
1.045.626,04 |
0,84 |
|
5. Liabilities by current taxes |
|
|
489.904,49 |
0,34 |
|
|
|
6. Other debts with Public Administrations |
625.491,77 |
0,49 |
530.471,36 |
0,37 |
638.336,65 |
0,51 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
126.827.528,35 |
100,00 |
142.874.472,55 |
100,00 |
124.648.489,88 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process there has
been made the assumption that the creditors balance with the group and associated
companies have a financial and not commercial character.
In the conversion process there has
been made the assumption that the creditors balance with the group and
associated companies have a commercial and not financial character.
In the conversion process it has not
been possible to breakdown the composition of liabilities originated by debts
with the public administrations; for this reason the mentioned amounts are
presented fully aggregated in the item “other debts with the public administrations”
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
43.174.593,17 |
96,47 |
55.224.590,05 |
93,72 |
60.304.317,53 |
92,07 |
|
A) Sales |
42.935.192,18 |
95,94 |
55.112.787,11 |
93,53 |
60.297.374,03 |
92,05 |
|
b) Services provided |
239.400,99 |
0,53 |
111.802,94 |
0,19 |
6.943,50 |
0,01 |
|
2. Variation in stocks of finished goods and work in progress |
-5.825.090,18 |
-13,02 |
6.957.501,09 |
11,81 |
-804.899,92 |
-1,23 |
|
3. Works for its own assets |
1.346.964,83 |
3,01 |
3.254.256,04 |
5,52 |
3.615.934,00 |
5,52 |
|
4. Supplies |
-20.614.431,14 |
-46,06 |
-34.589.519,71 |
-58,70 |
-31.822.659,25 |
-48,58 |
|
a) Material consumed |
-4.102.110,99 |
-9,17 |
-8.286.073,74 |
-14,06 |
-8.812.086,94 |
-13,45 |
|
b) Raw materials consumed |
-14.160.739,42 |
-31,64 |
-21.747.444,57 |
-36,91 |
-19.181.317,04 |
-29,28 |
|
c) Works carried out for other companies |
-2.351.580,73 |
-5,25 |
-4.556.001,40 |
-7,73 |
-3.829.255,27 |
-5,85 |
|
5. Other operating income |
230.635,38 |
0,52 |
447.974,12 |
0,76 |
1.581.580,62 |
2,41 |
|
a) Other incomes |
210.305,39 |
0,47 |
205.564,42 |
0,35 |
1.571.118,42 |
2,40 |
|
b) Operating grants included in the exercise result |
20.329,99 |
0,05 |
242.409,70 |
0,41 |
10.462,20 |
0,02 |
|
6. Labour cost |
-10.363.025,56 |
-23,16 |
-13.059.427,80 |
-22,16 |
-13.015.833,68 |
-19,87 |
|
a) Wages and similar expenses |
-7.923.144,51 |
-17,70 |
-10.096.877,91 |
-17,13 |
|
|
|
b) Social costs |
-2.439.881,05 |
-5,45 |
-2.962.549,89 |
-5,03 |
|
|
|
7. Other operating costs |
-11.643.451,11 |
-26,02 |
-15.485.634,79 |
-26,28 |
-17.456.606,14 |
-26,65 |
|
a) External services |
-10.586.292,50 |
-23,66 |
-14.914.836,45 |
-25,31 |
-16.021.482,08 |
-24,46 |
|
b) Taxes |
-231.667,09 |
-0,52 |
-330.090,90 |
-0,56 |
-247.706,89 |
-0,38 |
|
c) Losses, deterioration and variation on business operations
provisions |
-825.491,52 |
-1,84 |
-240.707,44 |
-0,41 |
-333.684,52 |
-0,51 |
|
d) Other day to day expenses |
|
|
|
|
-853.732,65 |
-1,30 |
|
8. Amortization of fixed assets |
-5.047.937,67 |
-11,28 |
-5.312.138,94 |
-9,01 |
-2.598.764,66 |
-3,97 |
|
9. Allocation of subventions on non financial investments and other |
72.897,43 |
0,16 |
65.131,98 |
0,11 |
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
259.585,12 |
0,58 |
4.941.691,76 |
8,39 |
3.902.512,02 |
5,96 |
|
b) Results for disposals and others |
259.585,12 |
0,58 |
4.941.691,76 |
8,39 |
3.902.512,02 |
5,96 |
|
12. Negative difference of business combinations |
|
|
|
|
|
|
|
13. Other results |
-1.310.086,11 |
-2,93 |
-538.653,61 |
-0,91 |
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 +
12 + 13) |
-9.719.345,84 |
-21,72 |
1.905.770,19 |
3,23 |
3.705.580,52 |
5,66 |
|
14. Financial income |
440.799,72 |
0,98 |
1.674.353,45 |
2,84 |
1.388.596,81 |
2,12 |
|
a) From net worth instruments participations |
21.298,01 |
0,05 |
562.643,34 |
0,95 |
545.429,33 |
0,83 |
|
a 1) On group and associated companies |
|
|
540.000,00 |
0,92 |
540.000,00 |
0,82 |
|
a 2) On third parties |
21.298,01 |
0,05 |
22.643,34 |
0,04 |
5.429,33 |
0,01 |
|
b) From negotiable values and other financial instruments |
419.501,71 |
0,94 |
1.111.710,11 |
1,89 |
774.501,20 |
1,18 |
|
b 1) From group and associated companies |
248.852,12 |
0,56 |
288.261,22 |
0,49 |
234.802,39 |
0,36 |
|
b 2) From third parties |
170.649,59 |
0,38 |
823.448,89 |
1,40 |
539.698,81 |
0,82 |
|
c) Allocation of financial legacies, grants and subventions |
|
|
|
|
68.666,28 |
0,10 |
|
15. Financial expenses |
-6.481.851,88 |
-14,48 |
-5.930.630,58 |
-10,06 |
-3.618.959,08 |
-5,52 |
|
b) For debts with third parties |
-6.481.851,88 |
-14,48 |
-5.930.630,58 |
-10,06 |
-3.618.959,08 |
-5,52 |
|
16. Reasonable value variation on financial instruments |
30.213,71 |
0,07 |
87.614,18 |
0,15 |
|
|
|
a) Negotiation portfolio and others |
-0,34 |
0,00 |
55.994,74 |
0,10 |
|
|
|
b) Allocation to the exercise result for financial assets available
for sale |
30.214,05 |
0,07 |
31.619,44 |
0,05 |
|
|
|
17. Exchange differences |
-13.762,75 |
-0,03 |
-24.223,80 |
-0,04 |
-78.554,71 |
-0,12 |
|
18. Deterioration and result for disposal of financial instruments |
|
|
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-6.024.601,20 |
-13,46 |
-4.192.886,75 |
-7,12 |
-2.308.916,98 |
-3,52 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
-15.743.947,04 |
-35,18 |
-2.287.116,56 |
-3,88 |
1.396.663,54 |
2,13 |
|
20. Taxes on profits |
4.779.635,90 |
10,68 |
2.395.749,05 |
4,07 |
-103.422,26 |
-0,16 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED OPERATIONS (A.3 + 20) |
-10.964.311,14 |
-24,50 |
108.632,49 |
0,18 |
1.293.241,28 |
1,97 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
-10.964.311,14 |
-24,50 |
108.632,49 |
0,18 |
1.293.241,28 |
1,97 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to extraordinary
results and other exercises ones have changed substantially and, for this
reason the conversion of financial statements of the formulation exercise of
the accounts to PGC2007 could include notable inaccuracies.
The valuation norms applicable to
deteriorations and results for assets disposal have changed substantially and,
for this reason, the conversion of financial statements of the formulation
exercise of the accounts to PGC2007 could include notable inaccuracies. In the
conversion process there have been made the following assumptions: 1) the total
“gains from disposal of fixed assets” corresponds with results for disposal of
fixed assets and not of financial instruments. 2) no sale of non functional
assets derived from discontinued operations has taken place.
Valuation norms applicable to Financial
instruments collected in PGC2007 present notable changes with respect to PGC90.
As a consequence, the conversion of the financial statements of the accounts to
PGC2007, carried out considering mainly classification changes in the accounts
might contain certain inaccuracies.
In the financial statements conversion
process of the accounts formulation exercise to PGC2007 it could not be
identified the amount of discounts on sales for prompt payment that under
PGC2007 are registered reducing sales and not as a financial expense.
NET WORTH CHANGES STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
-10.964.311,14 |
108.632,49 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
-410.750,65 |
155.915,09 |
|
1. Financial assets available for sale |
-410.750,65 |
155.915,09 |
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
|
117.199,94 |
|
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 |
123.225,19 |
-81.935,30 |
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
-287.525,46 |
191.179,73 |
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
30.214,05 |
|
|
1. Financial assets available for sale |
30.214,05 |
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
-72.897,01 |
|
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
12.804,89 |
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
-29.878,07 |
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
-11.281.714,67 |
299.812,22 |
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
(NET WORTH OWN SHARES AND PARTICIPATIONS) |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
480.808,00 |
20.529.955,83 |
|
1.293.241,28 |
|
I. Adjustments by change of criteria in the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
480.808,00 |
20.529.955,83 |
|
1.293.241,28 |
|
I. Total recognized income and expenses |
|
|
|
108.632,49 |
|
II. Operations with partners or owners |
|
|
-892.552,72 |
|
|
5. Operations with own participations or shares (net) |
|
|
-892.552,72 |
|
|
III. Other net worth variations |
|
-4.116.661,58 |
|
-1.293.241,28 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
480.808,00 |
16.413.294,25 |
-892.552,72 |
108.632,49 |
|
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) |
480.808,00 |
16.413.294,25 |
-892.552,72 |
108.632,49 |
|
I. Total recognized income and expenses |
|
|
|
-10.964.311,14 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
1.232.665,63 |
|
-108.632,49 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
480.808,00 |
17.645.959,88 |
-892.552,72 |
-10.964.311,14 |
|
NET WORTH CHANGES ( 3 /3) |
VALUE CHANGES ADJUSTMENT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
TOTAL |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
|
|
22.304.005,11 |
|
|
I. Adjustments by change of criteria in the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
|
|
22.304.005,11 |
|
|
I. Total recognized income and expenses |
109.140,56 |
82.039,17 |
299.812,22 |
|
|
II. Operations with partners or owners |
|
|
-892.552,72 |
|
|
5. Operations with own participations or shares (net) |
|
|
-892.552,72 |
|
|
III. Other net worth variations |
|
|
-5.409.902,86 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
109.140,56 |
82.039,17 |
16.301.361,75 |
|
|
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) |
109.140,56 |
82.039,17 |
16.301.361,75 |
|
|
I. Total recognized income and expenses |
-266.375,62 |
-51.027,91 |
-11.281.714,67 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
1.124.033,14 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
-157.235,06 |
31.011,26 |
6.143.680,22 |
|
CASH FLOW STATUS
Figures given in €
|
|
31/12/2009 (12) |
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING ACTIVITIES |
|
|
|
1. exercise result before taxes |
-15.743.947,04 |
-2.287.116,56 |
|
2. Results adjustments |
11.100.627,42 |
4.496.499,69 |
|
a) Amortization of fixed assets (+) |
5.047.937,67 |
5.312.138,94 |
|
b) Value correction for deterioration (+/-) |
825.491,52 |
240.707,44 |
|
d) Grants allocation (-) |
-72.897,43 |
-307.541,68 |
|
e) Results for decline and disposal of fixed assets (+/-) |
-259.585,12 |
-4.941.691,76 |
|
g) Financial income (-) |
-440.799,72 |
-1.674.353,45 |
|
f) Financial expenses (+) |
6.030.694,21 |
5.930.630,58 |
|
i) Change difference (+/-) |
|
24.223,80 |
|
j) Reasonable value variation on financial instruments (+/-) |
-30.213,71 |
-87.614,18 |
|
3. Changes in current capital |
12.151.155,26 |
7.402.130,51 |
|
a) Stocks (+/-) |
8.525.018,75 |
-6.042.222,07 |
|
b) Debtors and other receivable accounts (+/-) |
3.551.717,51 |
-5.344.769,51 |
|
c) Other current assets (+/-) |
3.487.779,24 |
3.987.586,36 |
|
d) Creditors and other payable accounts (+/-) |
1.016.129,13 |
-8.759.004,56 |
|
e) Other current liabilities (+/-) |
|
25.326.189,20 |
|
f) Other non-current assets and liabilities (+/-) |
-4.429.489,37 |
-1.765.648,91 |
|
4. Other cash flow coming from operating activities |
-6.041.052,16 |
-4.162.207,56 |
|
a) Interests payments (-) |
-6.481.851,88 |
-6.023.252,51 |
|
b) Dividends collections (+) |
|
562.643,34 |
|
c) Interests collections (+) |
440.799,72 |
1.111.252,44 |
|
d) Collections (payments) for profit tax (+/-) |
|
187.149,17 |
|
5. Cash flow coming from operating activities (1 + 2 + 3 + 4) |
1.466.783,48 |
5.449.306,08 |
|
B) CASH FLOW COMING FROM INVESTING ACTIVITIES |
|
|
|
6. Investment payments (-) |
-6.414.494,61 |
-18.481.222,44 |
|
a) Group and associated companies |
-3.346.745,20 |
-56.320,46 |
|
b) Intangible assets |
-429.282,89 |
-975.785,48 |
|
c) Tangible assets |
-2.169.296,42 |
-17.449.116,50 |
|
e) Other financial assets |
-469.170,10 |
|
|
7. Disinvestment collections (+) |
6.920.071,86 |
85.211,35 |
|
c) Tangible assets |
8.285,05 |
78.534,28 |
|
d) Real state investments |
658.575,44 |
|
|
e) Other financial assets |
6.253.211,37 |
6.677,07 |
|
8. Cash Flow in investment activities (6 + 7) |
505.577,25 |
-18.396.011,09 |
|
C) CASH FLOW COMING FROM FINANCING ACTIVITIES |
|
|
|
9. Net worth instruments collections and payments |
20.329,99 |
10.925,00 |
|
e) Received legacies, grants and subventions (+) |
20.329,99 |
10.925,00 |
|
10. Financial liabilities instruments collections and payments |
-1.355.460,87 |
12.999.587,08 |
|
a) Issue |
21.863.787,13 |
17.412.387,35 |
|
2. Debts with bank entities (+) |
18.664.397,51 |
17.412.387,35 |
|
3. Debts with group and associated companies (+) |
600.000,00 |
|
|
4. Debts with special characteristics (+) |
2.599.389,62 |
|
|
b) Return and amortization of |
-23.219.248,00 |
-4.412.800,27 |
|
2. Debts with bank entities (-) |
-23.219.248,00 |
-4.412.800,27 |
|
11. Payments for dividends and remunerations of other net worth
instruments |
|
|
|
12. Cash Flow in financing activities (9 + 10 + 11) |
-1.335.130,88 |
13.010.512,08 |
|
D) Exchange rate variations effect |
|
|
|
E) NET CASH OR EQUIVALENTS INCREASE / REDUCTION (5 + 8 + 12 + D) |
637.229,85 |
63.807,07 |
|
Cash or equivalents at the beginning of the exercise |
841.380,00 |
777.572,93 |
|
Cash or equivalents at the end of the exercise |
1.478.609,85 |
841.380,00 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
10.616.453,91 |
497,94 |
-2.667.831,94 |
-126,62 |
10.021.079,86 |
|
Working capital ratio |
0,08 |
500,00 |
-0,02 |
-125,00 |
0,08 |
|
Soundness Ratio |
0,08 |
-62,50 |
0,24 |
-41,46 |
0,41 |
|
Average Collection Period (days) |
180 |
6,37 |
170 |
-13,89 |
197 |
|
Average Payment Period (days) |
282 |
61,65 |
175 |
-23,14 |
227 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
124,91 |
29,35 |
96,57 |
-16,56 |
115,74 |
|
Quick Ratio (%) |
16,31 |
2,26 |
15,95 |
-30,50 |
22,95 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
75,14 |
5,08 |
71,51 |
23,08 |
58,10 |
|
External Financing Average Cost |
0,07 |
16,67 |
0,06 |
20,00 |
0,05 |
|
Debt Service Coverage |
64,97 |
246,51 |
18,75 |
0,75 |
18,61 |
|
Interest Coverage |
-1,50 |
-568,75 |
0,32 |
-68,63 |
1,02 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
3,40 |
-65,55 |
9,87 |
53,02 |
6,45 |
|
Auto financing generated by Assets (%) |
1,16 |
-69,55 |
3,81 |
22,12 |
3,12 |
|
Breakdown Point |
0,82 |
-21,15 |
1,04 |
-2,80 |
1,06 |
|
Average Sales Volume per Employee |
155.668,27 |
1,08 |
154.004,83 |
-0,66 |
155.023,95 |
|
Average Cost per Employee |
37.364,43 |
2,60 |
36.418,83 |
8,84 |
33.459,73 |
|
Assets Turnover |
0,34 |
-12,82 |
0,39 |
-18,75 |
0,48 |
|
Inventory Turnover (days) |
408 |
22,99 |
332 |
13,41 |
293 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
-7,66 |
-675,94 |
1,33 |
-55,22 |
2,97 |
|
Operating Profitability (%) |
-3,48 |
-140,89 |
8,51 |
3,91 |
8,19 |
|
Return on Equity (ROE) (%) |
-251,10 |
-1.668,31 |
-14,20 |
-312,89 |
6,67 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
58,02 |
59,30 |
-1,28 |
|
A) CURRENT ASSETS |
41,98 |
40,70 |
1,28 |
|
LIABILITIES |
|||
|
A) NET WORTH |
4,84 |
49,90 |
-45,06 |
|
B) NON CURRENT LIABILITIES |
61,55 |
24,56 |
36,99 |
|
C) CURRENT LIABILITIES |
33,61 |
25,54 |
8,07 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
96,47 |
98,31 |
-1,84 |
|
Other operating income |
3,53 |
1,69 |
1,84 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-46,06 |
-40,33 |
-5,73 |
|
Variation in stocks of finished goods and work in progress |
-13,02 |
-1,58 |
-11,44 |
|
GROSS MARGIN |
40,92 |
58,10 |
-17,18 |
|
Other operating costs |
-26,02 |
-25,59 |
-0,43 |
|
Labour cost |
-23,16 |
-17,96 |
-5,20 |
|
GROSS OPERATING RESULT |
-8,25 |
14,55 |
-22,80 |
|
Amortization of fixed assets |
-11,28 |
-5,21 |
-6,07 |
|
Deterioration and result for fixed assets disposal |
0,58 |
-0,24 |
0,82 |
|
Other expenses / income |
|
0,16 |
|
|
NET OPERATING RESULT |
-21,72 |
9,27 |
-30,99 |
|
Financial result |
-13,46 |
-4,39 |
-9,07 |
|
RESULT BEFORE TAX |
-35,18 |
4,87 |
-40,05 |
|
Taxes on profits |
10,68 |
-1,37 |
12,05 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
-24,50 |
3,50 |
-28,00 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
-24,50 |
3,50 |
-28,00 |
|
Amortization of fixed assets |
-11,28 |
-5,21 |
-6,07 |
|
Deterioration and provisions variation |
-1,84 |
-0,70 |
-1,14 |
|
|
-11,38 |
9,42 |
-20,80 |
Main Ratios
Figures given in €
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
10.616.453,91 |
2.478.210,79 |
12.989.513,20 |
42.138.888,63 |
|
Working capital ratio |
0,08 |
0,03 |
0,12 |
0,22 |
|
Soundness Ratio |
0,08 |
0,47 |
0,73 |
1,19 |
|
Average Collection Period (days) |
180 |
93 |
105 |
125 |
|
Average Payment Period (days) |
282 |
107 |
141 |
170 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
124,91 |
107,96 |
145,85 |
271,38 |
|
Quick Ratio (%) |
16,31 |
2,32 |
7,52 |
25,70 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
75,14 |
22,91 |
38,43 |
45,08 |
|
External Financing Average Cost |
0,07 |
0,03 |
0,04 |
0,06 |
|
Debt Service Coverage |
64,97 |
2,28 |
4,90 |
10,60 |
|
Interest Coverage |
-1,50 |
1,19 |
4,24 |
7,35 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
3,40 |
5,43 |
10,24 |
13,14 |
|
Auto financing generated by Assets (%) |
1,16 |
3,99 |
5,52 |
8,01 |
|
Breakdown Point |
0,82 |
1,05 |
1,07 |
1,18 |
|
Average Sales Volume per Employee |
155.668,27 |
163.402,57 |
198.662,50 |
341.377,81 |
|
Average Cost per Employee |
37.364,43 |
36.877,90 |
40.086,56 |
41.588,38 |
|
Assets Turnover |
0,34 |
0,53 |
0,64 |
0,80 |
|
Inventory Turnover (days) |
408 |
110 |
247 |
380 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
-7,66 |
3,04 |
4,36 |
9,18 |
|
Operating Profitability (%) |
-3,48 |
6,10 |
8,74 |
11,67 |
|
Return on Equity (ROE) (%) |
-251,10 |
2,97 |
6,72 |
11,72 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
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.