MIRA INFORM REPORT
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Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
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Name : |
HINE SA |
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Registered Office : |
Poligono Karobi Industrialdea, 6005,
20212 Olaberria Gipuzkoa |
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Country : |
Spain |
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Financials (as on) : |
31.12.1998 |
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Date of Incorporation : |
01.01.1974 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Manufacturer of machinery |
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No. of Employees : |
105 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Suspended |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
spain - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, after almost 15 years of above average GDP growth, the Spanish
economy began to slow in late 2007 and entered into a recession in the second
quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend,
and by another 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in
Spain''s economic growth reflected a significant decline in construction amid
an oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain concerned
that Madrid may need to bail out more troubled banks. The Bank of Spain,
however, is seeking to boost confidence in the financial sector by pressuring
banks to come clean about their losses and consolidate into stronger groups.
|
Source
: CIA |
Company name
HINE SA
CIF/NIF: A20054854
Company situation: Deregistration Mercantile Register sheet file for
the lack of filed accounts - Article 378.1 of the Mercantile
Register Regulation (Date: 25/01/2013)
Data of your request
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Registered Name HINE SA Complete Address KAROBI INDUSTRIALDEA, 6005 20 20212 Request reason max credit |
Year of the accounts to be delivered 2009 Language Inglés Delivery Method E-mail Delivery Format RTF Delivery time 4 days Report Reference Number 214276 |
Answer to the
data in your request
The data of your request have been confirmed and are correct.
In spite of investigations using every source available (public and private), no additional details than those
contained in this report are available.
Other Complementary Information
According to the consultation made 25/01/2013 on the Registrars official website, subject company has a deregistration on its commercial registry sheet file because it has not filed its accounts.
EXECUTIVE SUMMARY
Identification
Current Business Name: HINE SA
Commercial name: HINE INDUSTRIAL; HINE MOYMSA
Other names: YES
Current Address: POLIGONO KAROBI INDUSTRIALDEA, 6005
Branches: 8
Telephone number: 943884600 Fax: 943884450
URL: www.hine.es
Corporate e-mail: email@hine.es
Trade Risk
Company situation: Deregistration Mercantile Register sheet file for
the lack of filed accounts - Article 378.1 of the Mercantile Register
Regulation (Date: 25/01/2013)
Incidents: NO
R.A.I.: NO
Financial Information
Balance sheet latest sales (1998): 12.577.278,14 € (Mercantile Register)
Result: 987.420,82 €
Total Assets: 9.371.058,86 €
Share capital: 300.506,05 €
Employees: 105
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 23/02/1978
Activity: Mfg. of machinery nec.
NACE 2009 CODE: 2829
International Operations: Imports and Exports
Corporate Structure
President:
ARRIZABALAGA ARAMBURU, JOSE IGNACIO
Participations: 2
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2003
Latest act published in BORME: 18/06/2012 Appointments
Latest press article: 11/02/2013 EL ECONOMISTA (GENERAL
INFORMATION)
Bank Entities: There are
The date when this report was last updated is 19/03/2013.
The information contained in this report has been investigated and
contrasted on 19/03/2013
Company situation
Deregistration Mercantile Register sheet file for the lack of filed
accounts - Article 378.1 of the Mercantile Register Regulation
(Date: 25/01/2013)
INCIDENTS 
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY:
1 Company / Companies in Insolvency Proceedings.
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
12/03/2013 14:03:26
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 €
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31/12/1996 (12) BALANCE SHEET |
31/12/1997 (12) BALANCE SHEET |
31/12/1998 (12) BALANCE SHEET |
% ASSETS |
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BALANCE SHEET ANALYSIS |
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NET WORTH |
3.059.806,71 |
3.816.733,38 |
4.799.081,65 |
51,21 |
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DEBT |
4.661.485,94 |
3.466.559,69 |
4.571.977,21 |
48,79 |
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FIXED ASSETS |
1.947.375,38 |
1.933.245,59 |
1.789.675,81 |
19,10 |
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TOTAL ASSETS |
7.721.292,66 |
7.283.293,07 |
9.371.058,86 |
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31/12/1996 (12) BALANCE SHEET |
31/12/1997 (12) BALANCE SHEET |
31/12/1998 (12) BALANCE SHEET |
% SALES |
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PROFIT AND LOSS ACCOUNT ANALYSIS |
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SALES |
8.988.358,40 |
10.770.906,21 |
12.577.278,14 |
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ADDED VALUE |
2.517.369,25 |
2.994.987,56 |
3.397.160,82 |
27,01 |
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EBITDA |
1.059.001,36 |
1.417.511,09 |
1.765.989,93 |
14,04 |
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EBIT |
889.197,41 |
1.153.937,23 |
1.428.912,29 |
11,36 |
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NET RESULT |
599.587,71 |
763.736,13 |
987.420,82 |
7,85 |
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OTHER DATA FROM
THE ANNUAL FINANCIAL REPORT
Results
Distribution
Source: annual financial report 1998
Figures given in €
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DISTRIBUTION BASE |
APPLICATION A |
||
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Profit and Loss |
987.420,82 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Voluntary Reserve |
987.420,82 |
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Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
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Reserves |
0,00 |
Carry over |
0,00 |
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Other concepts |
0,00 |
Other funds |
0,00 |
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Total of Amounts to be distributed |
987.420,82 |
Dividends |
0,00 |
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Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 1998
Auditors’ opinion: FAVOURABLE
Auditor: OYARZABAL ARTOLA LUCAS MARIA
company ADDRESSES
Current Legal Seat Address:
POLIGONO KAROBI INDUSTRIALDEA, 6005
20212 OLABERRIA GIPUZKOA
Previous Seat Address:
BARRIO IHURRE-YURRE S/N
20212 OLABERRIA
GIPUZKOA
Characteristics of
the current address
Type of establishment: store
Owners: owned; with no official confirmation
Local Situation: secondary
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STREET |
POSTAL CODE |
TOWN |
PROVINCE |
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PLAZA SIMON BOLIVAR, 13 |
01003 |
VITORIA-GASTEIZ |
Araba/Álava |
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CALLE FORJA, 37 |
08840 |
VILADECANS |
Barcelona |
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CALLE LLULL, 321 |
08019 |
BARCELONA |
Barcelona |
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CALLE DOLORES IBARRURI, 15 |
14011 |
CORDOBA |
Córdoba |
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AVENIDA DEL SISTEMA SOLAR, 13 |
28830 |
SAN FERNANDO DE HENARES |
Madrid |
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CALLE DE LA MARCHA DEL HIERRO, 16 |
33401 |
AVILES |
Asturias |
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AVENIDA HISPANIDADE, 57 |
36203 |
VIGO |
Pontevedra |
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BARRIO ARTATZA, 7 |
48940 |
LEIOA |
Bizkaia |
There are 8 branches registered
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STREET |
POSTAL CODE |
TOWN |
PROVINCE |
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CALLE PORTAL DE GAMARRA, 1 |
01013 |
VITORIA-GASTEIZ |
Araba/Álava |
There are 1 former branches registered
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
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Distribution of the administration board |
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Governing body : 10 members (latest change:
02/05/2012) Other Positions : 2 (latest change: 08/03/2010) Auditor : 3 (latest change: 07/06/2012) Operative Board Members : 4 (latest change: 13/04/2011) Non-current positions : 13 (latest change: 07/06/2012) |
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Main Board members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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PRESIDENT |
ARRIZABALAGA ARAMBURU, JOSE IGNACIO |
02/05/2012 |
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VICE-PRESIDENT |
ARRIZABALAGA ARAMBURU, MIKEL |
02/05/2012 |
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MEMBER OF THE BOARD |
ARRIZABALAGA ARAMBURU, MARIA ICIAR |
02/05/2012 |
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MEMBER OF THE BOARD |
GUIBELALDE IŃURRITEGUI, PEDRO MARIA |
02/05/2012 |
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MEMBER OF THE BOARD |
ARRIZABALAGA ARRATIBEL, MIKEL |
02/05/2012 |
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Auditor
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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AUDITOR |
JAUREGUI ETXEBESTE INAKI, LOYOLA |
15/10/2002 |
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AUDITOR |
DELOITTE SL |
07/06/2012 |
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CONSOLIDATED ACCOUNTS AUDITOR |
DELOITTE SL |
07/06/2012 |
There are 15 board members, directors and auditors registered
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POSITION |
NAME AND SURNAME |
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General Manager |
BASARTE, MIKEL |
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Financial Manager |
GONZALEZ DEL BUSTO, RAFAEL |
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Human Resources Director |
ARRIZABALAGA, MIKEL |
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Production Director |
GOMEZ, JAVIER |
FINANCIAL LINKS
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
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|
ARRIZABALAGA ARAMBURU JOSE I. |
|
21,33 |
OWN SOURCES |
19/03/2013 |
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ARRIZABALAGA ARAMBURU F. JAVIER |
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21,33 |
OWN SOURCES |
19/03/2013 |
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ARRIZABALAGA ARAMBURU MIKEL |
|
21,33 |
OWN SOURCES |
19/03/2013 |
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GUIBELALDE INURRITEGUI PEDRO M. |
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18,00 |
OWN SOURCES |
19/03/2013 |
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ARRIZABALAGA ARAMBURU ICIAR |
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18,00 |
OWN SOURCES |
19/03/2013 |
There are 5 direct financial links through shareholders
registered
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
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PROESFIALIA SL. (EXTINGUIDA) |
B75005579 |
Indef. |
B.O.R.M.E. |
21/01/2010 |
Company with
rating inferior to 7
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
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|
PROYECTOS ALPESA SL |
B20095584 |
100,00 |
B.O.R.M.E. |
24/12/2012 |
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PROMOCION PROESFI S.L. |
B20862470 |
100,00 |
OWN SOURCES |
15/02/2012 |
There are 2 direct financial links through participations
registered
Company with
rating inferior to 7
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BUSINESS NAME |
SHAREHOLDER |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
HINE MOYMSA S.L. |
PROMOCION PROESFI S.L. |
B20980330 |
99,99 |
OWN SOURCES |
15/02/2012 |
|
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MANTENIMIENTO OLEOHIDRAULICO Y MONTAJES SL (EXTINGUIDA) |
B33083056 |
100,00 |
B.O.R.M.E. |
09/02/2012 |
|
|
PROESFIALIA SL. (EXTINGUIDA) |
B75005579 |
100,00 |
B.O.R.M.E. |
21/01/2010 |
|
|
MAHIGUI S. A.(EXTINGUIDA) |
A80228554 |
99,98 |
B.O.R.M.E. |
22/03/1995 |
Company with
rating inferior to 7
POTENTIAL LINKS
Search Criterion: ”JOSE IGNACIO ARRIZABALAGA ARAMBURU”
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COMPANY |
POSITION |
PROVINCE |
|
HITUCHA S.L. |
Consejero Delegado |
GIPUZKOA |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”HINE SA”
|
COMPANY FOUND |
PROVINCE |
|
HINE SA |
GIPUZKOA |
|
HINE MOYMSA S.L. |
GIPUZKOA |
|
HINE RENOVABLES S.L. |
GIPUZKOA |
Search Criterion: ”HINE SA”
URL: www.hine.es
Grupo Hine No tienes la ultima versión de Adobe Flash Player. Este sitio web
utiliza software de Adobe. Tienes una versión antigua de Adobe Flash Player que
no puede ...
URL: www.eaton.com
HINE Sails in Wind Turbine Market with Eaton Products Background.
Eaton has a strong foothold in the wind turbine market, thanks to the ongoing
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URL: www.paxinasgalegas.es
Hine, S.A. - Vigo Hine, S.A.. Teléfono, calle, mapa y más info
de Hine, S.A. en Vigo.
URL: www.infojobs.net
HINE S.A. - Ofertas de trabajo en HINE S.A. Ofertas de
trabajo en HINE S.A.. Consulta la bolsa de empleo de HINE S.A. e inscríbete en
las ofertas de empleo de HINE S.A. de forma online a través de ...
URL: es.kompass.com
Hine, S.A. (Guipuzcoa, Olaberria) - Información general Acceda a
toda la información de Hine, S.A. con nuestro directorio profesional de empresas
B2B.
BUSINESS INFORMATION
Incorporation date: 23/02/1978
Establishment date: 01/01/1974
Founder’s Name: PELLO GUIBELALDE
Activity: Mfg. of machinery nec.
NACE 2009 CODE: 2829
NACE 2009 Activity: Manufacture of other general-purpose
machinery n.e.c.
Business: AUTOMATIZACION INDUSTRIAL DE TODO TIPO DE
MAQUINARIA Y SU COMERCIALIZACION,PUDIENDO REALIZAR, ADEMAS, CUANTO SEA
PREPARATORIO, AUXILIAR Y COMPLEMENTA-RIO DE DICHO OBJETO PRINCIPAL.
Latest employees figure: 105 (2013)
% of fixed employees: 100,00%
Employees
evolution
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COMMERCIAL OPERATIONS
PURCHASES
Imports from: UE
SALES
Cash collections: 100%
Exports to: CHINA, INGLATERRA, ESTADOS UNIDOS.
National Distribution: 10%
Regional Distribution: 90%
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
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TOLOSA |
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BANCO DE SABADELL, S.A. |
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BANCO SANTANDER, S.A. |
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There are 3 bank entities registered
Brand name: BPH BP HYDRAULICS GOLDAMING SURREY (Valid)
Type: JOINT Scope: INTERNATIONAL
Date: 21/11/2011
Brand name: BPH B.P.HYDRAULICS GOLDAMING SURREY (Valid)
Type: JOINT Scope: NATIONAL Date: 11/07/2011
Brand name: BP HYDRAULICS BPH B.P.HYDRAULICS GOLDMING
SURREY (Valid)
Type: JOINT Scope: NATIONAL Date: 11/07/2011
Brand name: BPH B.P. HYDRAULICS GOLDAMING SURREY (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 09/06/2011
Brand name: BP HYDRAULICS (Valid)
Type: GRAPHICAL Scope: COMMUNITARY
Date: 05/05/2011
There are 87 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 23/02/1978
Legal form: Joint-stock Company
Share capital: 300.506,05 €
Paid-up capital: 300.506,05 €
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: 26 (Last: 18/06/2012, first: 28/08/1990)
· Acts on capital: 1 (Last: 19/04/1990)
· Acts on creation: 0
· Acts on filed accounts: 12 (Last: 10/07/2007, first: 01/10/1990)
· Acts on identification: 0
· Acts on Information: 2 (Last: 03/07/2007, first: 12/01/1993)
· Acts on proceedings: 3 (Last: 21/01/2010, first: 17/08/2009)
Latest acts in
B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Appointments |
18/06/2012 |
255602 |
Gipuzkoa |
|
Resignations |
18/06/2012 |
255602 |
Gipuzkoa |
|
Appointments |
18/06/2012 |
255601 |
Gipuzkoa |
|
Resignations |
18/06/2012 |
255601 |
Gipuzkoa |
|
Appointments |
11/05/2012 |
202784 |
Gipuzkoa |
|
Resignations |
11/05/2012 |
202784 |
Gipuzkoa |
|
Appointments |
11/05/2012 |
202783 |
Gipuzkoa |
|
Resignations |
11/05/2012 |
202783 |
Gipuzkoa |
|
Resignations |
08/03/2010 |
97493 |
Gipuzkoa |
|
Appointments |
08/03/2010 |
97492 |
Gipuzkoa |
There are 44 acts registered
PRESS ARTICLES
Press summary by
type of information (last five years)
Legal notices: 1 (Last: 01/10/2009)
Structural Data: 2 (Last: 06/04/2008, first: 06/02/2008)
Informative data: 2 (Last: 11/02/2013, first: 09/06/2009)
Financial Information: 2 (Last: 26/03/2008, first: 18/03/2008)
Negative information: 0
Business lines: 2 (Last: 28/05/2008, first: 01/04/2008)
Historical press releases: 2 (Last: 26/04/2006, first:
01/07/2004)
Latest press
article published
11/02/2013 EL ECONOMISTA - GENERAL INFORMATION
El GRUPO HINE se compone hoy día de 9 empresas con 2 áreas de actividad (Industrial
y Energías Renovables) y presencia en 6 países (Espańa, China, EEUU, Reino
Unido, Brasil e India). Su volumen de negocio se sitúa en los 62 millones (casi
el 40% procede del exterior) y da empleo directo a 280 personas (176 en Espańa
y 104 en el exterior). A pesar de crecer fuera, de forma paralela, en Espańa
adquirió 2 cías. (HIDRASA y MOYMSA). Un ańo más tarde desembarcó en EEUU, en
2008 compró una firma en Reino Unido, en 2010 se implantó en Brasil y en 2011
en la India. Posteriormente construyó una fábrica en Olaberria, la cabecera de
HINE RENOVABLES, y en 2012 adquirió ALPESA.
01/10/2009 MARCA - LEGAL ANNOUNCEMENTS
LA JUNTA GRAL. EXTRAORDINARIA Y UNIVERSAL DE LAS SDADES. HINE SA (SDAD.
ABSORBENTE) Y DE PROESFALIA SL, HIDRASA HIDRAVICKK SA (SDADES. ABSORBIDAS),
CELEBRADAS EL 18/09/09, APROBARON POR UNANIMIDAD LA FUSION DE DICHAS
CIAS.
09/06/2009 EXPANSIÓN - GENERAL INFORMATION
HINE CUENTA CON 230 EMPLEADOS EN ESPAŃA, PERO EXPORTA SUS SERVICIOS A
CHINA Y ESTADOS UNIDOS, DONDE DISPONE DE DOS FABRICAS PROPIAS, QUE SIRVEN A LOS
GRANDES FABRICANTES DE GENERADORES EOLICOS. LA SDAD., FUNDADA EN 1974, ACOMETIO
EN 2005 LA ESTRUCTURACION DE SUS DOS LINEAS DE NEGOCIO (AUTOMATIZACION
INDUSTRIAL Y ENERGIAS RENOVABLES) EN DOS EMPRESAS TOTALMENTE DIFERENCIADAS.
HINE FACTURO 80 MM. DE EUROS EN 2008 Y CUENTA CON OFICINAS EN VIZCAYA, ALAVA,
MADRID, GALICIA, ASTURIAS, LEVANTE E ISLAS, CATALUŃA Y SUR DE ESPAŃA. ASIMISMO,
POSEE DOS PLANTAS PRODUCTIVAS EN OLABERRIA, GUIPUZCOA.
28/05/2008 EL DIARIO VASCO - BUSINESS PRIZES
LA AGENCIA DE DESARROLLO GOEKI ENTREGO SUS PREMIOS A LOS PROYECTOS
EMPRESARIALES, EN SU UNDECIMA EDICION. EN EL APARTADO DEDICADO A LA INNOVACION
EN LA EMPRESA, LA DISTINCION RECAYO EN HINE, DE OLABERRIA, FABRICANTE DE
SISTEMAS OLEHIDRAULICOS.
06/04/2008 EL DIARIO VASCO - SHAREHOLDERS AND
HOLDINGS
LA EMPRESA GUIPUZCOANA HINE, FUNDADA EN 1974 POR PELLO GUIBELALDE Y
DEDICADA A DISEŃAR, FABRICAR Y COMERCIALIZAR SISTEMAS OLEOHIDRAULICOS PARA EL
SECTOR INDUSTRIAL, CREO EN 2005 HINE RENOVABLES PARA ENTRAR EN EL EMERGENTE
SECTOR DE LA ENERGIA EOLICA. EN LA ACTUALIDAD, HINE RENOVABLES OCUPA UNA PARTE
DE LA FABRICA QUE HINE TIENE EN OLABERRIA, MIENTRAS CONSTRUYE SU FUTURA FABRICA
EN UNOS TERRENOS DE 5.000 METROS CUADRADOS QUE PODRIA ENTRAR EN FUNCIONAMIENTO
EN 2009. EL OBJETIVO DE HINE RENOVABLES ES CONVERTISE EN UNA FIRMA LIDER EN EL
SUMINISTRO DE SISTEMAS OLEOHIDRAULICOS PARA EL SECTOR DE LAS ENERGIAS
RENOVABLES.
There are 11 press articles registered for this company
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 02/02/2000.
BALANCE SHEET
Assets
Figures given in €
|
|
31/12/1996 (12) |
31/12/1997 (12) |
31/12/1998 (12) |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
B) FIXED ASSETS |
1.947.375,38 |
1.933.245,59 |
1.789.675,81 |
|
I. Incorporation costs |
|
|
|
|
II. Intangible fixed assets |
|
|
63.160,36 |
|
Concessions, patents, licences , trademarks |
|
1.863,14 |
1.863,14 |
|
Software |
|
17.850,06 |
61.297,22 |
|
Amortizations |
|
-19.713,20 |
|
|
III. Tangible fixed assets |
1.943.468,80 |
1.932.404,17 |
1.725.674,04 |
|
Property, plant and equipment |
|
1.710.552,57 |
1.690.358,56 |
|
Machinery, equipment and other |
|
97.063,45 |
97.063,45 |
|
Other property plant and equipment |
|
768.321,85 |
780.973,16 |
|
Other assets |
|
303.228,64 |
371.407,45 |
|
Amortizations |
|
-946.762,35 |
-1.214.128,59 |
|
IV. Financial fixed assets |
3.906,58 |
841,42 |
841,42 |
|
Long term Securities portfolio |
|
661,11 |
661,11 |
|
Long term deposits and guarantees |
|
180,30 |
180,30 |
|
V. Own Shares |
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
D) CURRENT ASSETS |
5.773.917,28 |
5.350.047,48 |
7.581.383,05 |
|
I. Shareholders by required outlays |
|
|
|
|
II. Stocks |
1.856.147,75 |
1.955.452,98 |
2.327.221,04 |
|
Goods available for sale |
|
1.568.076,64 |
1.696.308,58 |
|
Work in Progress |
|
387.376,34 |
630.912,46 |
|
III. Debtors |
3.503.011,07 |
3.143.677,95 |
4.932.464,27 |
|
Clients |
|
3.235.879,22 |
5.043.092,57 |
|
Other debts |
|
24,04 |
30,05 |
|
Staff |
|
805,36 |
|
|
Government |
|
14.965,20 |
174,29 |
|
Provisions |
|
-107.995,87 |
-110.832,64 |
|
IV. Temporary financial investment |
268.099,48 |
|
|
|
V. Short-term own shares |
|
|
|
|
VI. Treasury |
146.358,47 |
250.916,54 |
321.697,74 |
|
VII. Periodification adjustments |
300,51 |
|
|
|
TOTAL ASSETS (A + B + C + D) |
7.721.292,66 |
7.283.293,07 |
9.371.058,86 |
Liabilities
Figures given in €
|
|
31/12/1996 (12) |
31/12/1997 (12) |
31/12/1998 (12) |
|
A) EQUITY |
3.038.404,67 |
3.802.140,81 |
4.789.561,62 |
|
I. Issued Capital |
300.506,05 |
300.506,05 |
300.506,05 |
|
II. Issue premium |
|
|
|
|
III. Revaluation reserve |
|
204.524,42 |
204.524,42 |
|
IV. Reserves |
2.138.310,92 |
2.533.374,20 |
3.297.110,33 |
|
Legal Reserve |
|
60.101,21 |
60.101,21 |
|
Other funds |
|
2.473.272,99 |
3.237.009,12 |
|
V. Results from previous years |
|
|
|
|
VI. Profit and Losses |
599.587,71 |
763.736,13 |
987.420,82 |
|
VII. Dividend paid during the year |
|
|
|
|
VIII. Own shares for capital reduction |
|
|
|
|
B) DEFERRED INCOME |
21.402,04 |
14.592,57 |
9.520,03 |
|
Capital grants |
|
14.592,57 |
9.520,03 |
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
D) LONG TERM LIABILITIES |
420.708,47 |
407.191,71 |
299.965,14 |
|
I. Bonds issue and other negotiable values |
|
|
|
|
II. Debts with bank entities |
|
407.191,71 |
299.965,14 |
|
Long term bank loans |
|
407.191,71 |
299.965,14 |
|
III. Debts with associated and affiliated companies |
|
|
|
|
IV. Other creditors |
|
|
|
|
V. Deferred debts on shares |
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
E) SHORT TERM LIABILITIES |
4.240.777,47 |
3.059.367,98 |
4.272.012,07 |
|
I. Bonds issue and other negotiable values |
|
|
|
|
II. Debts with bank entities |
1.906.464,49 |
1.336.104,00 |
1.293.305,93 |
|
Loans and other debts |
|
1.336.104,00 |
1.293.305,93 |
|
III. Short term debts with associated and affiliated companies |
|
|
|
|
IV. Trade creditors |
2.092.273,39 |
1.263.026,94 |
2.314.479,58 |
|
Expenses |
|
1.263.026,94 |
2.314.479,58 |
|
V. Other non-commercial debt |
242.039,59 |
460.237,04 |
664.226,56 |
|
Government |
|
392.472,92 |
562.379,05 |
|
Other debts |
|
|
8.444,22 |
|
Accounts receivable |
|
67.764,11 |
93.403,29 |
|
VI. Provisions for current assets |
|
|
|
|
VII. Periodification adjustments |
|
|
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
7.721.292,66 |
7.283.293,07 |
9.371.058,86 |
PROFIT AND LOSS ACCOUNT
Items of the
Profit and Loss Account
Figures given in €
|
|
31/12/1996 (12) |
31/12/1997 (12) |
31/12/1998 (12) |
|
A) EXPENSES (A.1 a A.16) |
8.464.095,54 |
10.228.456,72 |
11.718.137,34 |
|
A.1. Reduction in stocks of finished goods and work in progress |
|
|
|
|
A.2. Supplies |
|
7.028.746,41 |
8.656.203,05 |
|
Raw materials consumed |
|
7.028.746,41 |
8.127.228,25 |
|
Other expenses |
|
|
528.974,79 |
|
A.3. Labour cost |
1.458.367,89 |
1.577.476,47 |
1.631.170,89 |
|
Wages |
|
1.314.215,14 |
1.359.555,49 |
|
Social security expenses |
|
263.261,33 |
271.615,40 |
|
A.4. Assets Amortization |
134.518,53 |
232.826,08 |
288.612,02 |
|
A.5. Variation in traffic provisions |
35.285,42 |
30.747,78 |
48.465,62 |
|
Variance in provision for bad debts |
|
30.747,78 |
48.465,62 |
|
A.6. Other operating costs |
752.671,50 |
915.281,33 |
571.496,40 |
|
External costs |
|
885.495,17 |
555.629,68 |
|
Taxes |
|
8.714,68 |
14.526,46 |
|
Other day to day expenses |
|
21.071,48 |
1.340,26 |
|
A.I. OPERATING RESULT (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
889.197,41 |
1.153.937,23 |
1.428.912,29 |
|
A.7. Financial expenses and similar |
194.481,51 |
146.701,04 |
89.460,65 |
|
Other companies debts |
|
146.701,04 |
89.460,65 |
|
A.8. Variation in financial investment provision |
|
|
|
|
A.9. Negative change difference |
|
919,55 |
3.095,21 |
|
A.II. POSITIVE FINANCIAL RESULTS (B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
|
|
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
737.538,01 |
1.049.493,35 |
1.395.790,51 |
|
A.10. Variation in provision in fixed assets |
|
|
|
|
A.11. Losses in fixed assets |
|
|
468,79 |
|
A.12. Losses from own shares and bonds |
|
|
|
|
A.13. Extraordinary charges |
901,52 |
|
7.308,31 |
|
A.14. Other exercises’ expenses and losses |
|
|
22.171,34 |
|
A.IV. POSITIVE EXTRAORDINARY RESULT
(B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14) |
6.034,16 |
10.000,84 |
|
|
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
743.572,18 |
1.059.494,19 |
1.387.105,89 |
|
A.15. Corporate Taxes |
143.984,47 |
295.758,06 |
399.685,07 |
|
A.16. Other taxes |
|
|
|
|
A.VI. EXERCISE RESULT (PROFIT) (A.V-A.14-A.15) |
599.587,71 |
763.736,13 |
987.420,82 |
|
B) INCOMES (B.1 to B.13) |
9.063.683,24 |
10.992.192,85 |
12.705.558,16 |
|
B.1. Net Turnover |
8.988.358,40 |
10.770.906,21 |
12.577.278,14 |
|
Sales |
|
10.777.811,84 |
12.577.278,14 |
|
Refunds and sale reminders |
|
-6.905,63 |
|
|
B.2. Increase in inventory of finished goods and works in progress |
|
67.042,90 |
|
|
B.3. Expenses capitalized |
|
|
|
|
B.4. Other operating income |
|
101.066,20 |
47.582,13 |
|
Grants |
|
30.399,19 |
360,61 |
|
Excess in provision for liabilities and charges |
|
70.667,00 |
47.221,52 |
|
B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5+A.6-B.1-B.2-B.3-B.4) |
|
|
|
|
B.5. Incomes from share participations |
|
|
|
|
B.6. Income from other securities and credits to fixed assets |
|
|
|
|
B.7. Other interests and similar |
|
38.801,34 |
57.096,15 |
|
Other Interests |
|
38.801,34 |
57.096,15 |
|
B.8. Positive change difference |
|
4.375,37 |
2.337,94 |
|
B.II. NEGATIVE FINANCIAL RESULTS (A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
151.659,39 |
104.443,88 |
33.121,78 |
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
B.9. B.9. Gains from disposal of fixed assets |
|
3.191,37 |
10.974,48 |
|
B.10. Gains from dealing in own shares |
|
|
|
|
B.11. Paid in surplus |
|
6.809,47 |
5.078,55 |
|
B.12. Extraordinary income |
6.935,68 |
|
5.210,77 |
|
B.13. Other year’s income and profits |
|
|
|
|
B.IV. NEGATIVE EXTRAORDINARY LOSSES
(A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
|
8.684,62 |
|
B.V. LOSS BEFORE TAXES (B.III+B.IV-A.III-A.IV) |
|
|
|
|
B.VI. EXERCISE RESULTS (LOSS) (B.V+A.14+A.15) |
|
|
|
FINANCIAL BALANCE
Here the Main Capital Amounts of the company and the Revolving Fund
Evolution are analysed.
Financial Balance
Table
Figures given in €
|
|
31/12/1996 (12) |
% |
31/12/1997 (12) |
% |
31/12/1998 (12) |
% |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
|
|
B) FIXED ASSETS |
1.947.375,38 |
25,22 |
1.933.245,59 |
26,54 |
1.789.675,81 |
19,10 |
|
C) DEFERRED EXPENSES |
|
|
|
|
|
|
|
D) CURRENT ASSETS |
5.773.917,28 |
74,78 |
5.350.047,48 |
73,46 |
7.581.383,05 |
80,90 |
|
TOTAL ASSETS (A + B + C + D) |
7.721.292,66 |
|
7.283.293,07 |
|
9.371.058,86 |
|
|
|
||||||
|
A) EQUITY |
3.038.404,67 |
39,35 |
3.802.140,81 |
52,20 |
4.789.561,62 |
51,11 |
|
B) DEFERRED INCOME |
21.402,04 |
0,28 |
14.592,57 |
0,20 |
9.520,03 |
0,10 |
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
|
|
D) LONG TERM LIABILITIES |
420.708,47 |
5,45 |
407.191,71 |
5,59 |
299.965,14 |
3,20 |
|
E) SHORT TERM LIABILITIES |
4.240.777,47 |
54,92 |
3.059.367,98 |
42,01 |
4.272.012,07 |
45,59 |
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
7.721.292,66 |
|
7.283.293,07 |
|
9.371.058,86 |
|
RATIOS
Main Ratios
|
|
31/12/1996 (12) |
31/12/1997 (12) |
31/12/1998 (12) |
|
BALANCE RATIOS |
|||
|
Working Capital (€) |
1.533.139,81 |
2.290.679,50 |
3.309.370,98 |
|
Working capital ratio |
0,20 |
0,32 |
0,35 |
|
Working capital requirement (€) |
|
3.375.866,96 |
4.280.979,17 |
|
Soundness Ratio |
1,56 |
1,97 |
2,68 |
|
External Funds on Equity |
1,52 |
0,91 |
0,95 |
|
Average collection period (days) |
140 |
105 |
141 |
|
Average payment period (days) |
|
58 |
90 |
|
LIQUIDITY RATIOS |
|||
|
Current ratio (%) |
136,15 |
174,87 |
177,47 |
|
Quick Ratio (%) |
9,77 |
8,20 |
7,53 |
|
Treasury (€) |
|
-1.085.187,46 |
-971.608,19 |
|
Sales on current assets (days) |
560 |
725 |
597 |
|
DEBT RATIOS |
|||
|
Borrowing Percentage (%) |
|
23,94 |
17,00 |
|
External Financing Average Cost |
|
0,08 |
0,06 |
|
Debt Service Coverage |
|
1,75 |
1,25 |
|
Interest Coverage |
4,57 |
7,87 |
15,97 |
|
GENERAL ACTIVITY RATIOS |
|||
|
Auto financing generated by sales (%) |
8,17 |
9,25 |
10,15 |
|
Auto financing generated by Assets (%) |
9,51 |
13,68 |
13,62 |
|
Breakdown Point |
6,67 |
6,73 |
6,78 |
|
Average Sales Volume per Employee |
37.388,43 |
|
46.504,07 |
|
Average Cost per Employee |
6.066,30 |
|
6.031,20 |
|
Assets Turnover |
1,16 |
1,48 |
1,34 |
|
Inventory Turnover (days) |
116 |
101 |
97 |
|
Increase of the Sales Figures (%) |
8,86 |
19,83 |
16,77 |
|
Added value growth (%) |
18,43 |
18,97 |
13,43 |
|
Labour Productivity |
1,73 |
1,90 |
2,08 |
|
Cash flow (€) |
769.391,66 |
1.027.309,99 |
1.324.498,46 |
|
SOLVENCY RATIOS |
|||
|
Payback Capacity |
0,16 |
0,30 |
0,29 |
|
Assets Guarantee |
1,66 |
2,10 |
2,05 |
|
Short Term Debts Proportion (%) |
90,98 |
88,25 |
93,44 |
Results Analysis
Ratios
|
|
31/12/1996 (12) |
31/12/1997 (12) |
31/12/1998 (12) |
|
Return on Assets (ROA) (%) |
11,52 |
15,84 |
15,25 |
|
Return on Equity (ROE) (%) |
24,47 |
27,87 |
28,96 |
|
Operating Profitability (%) |
13,72 |
19,46 |
18,84 |
|
General Profitability (%) |
6,67 |
7,09 |
7,85 |
|
Equity gearing |
2,09 |
1,74 |
1,91 |
ADDITIONAL INFORMATION
Consulted Sources
Central Mercantile Register
Mercantile Registrars
Chamber of Commerce / Camerdata
Tax Administration / VIES Consultation
Tax Administration / Consultation by NIF
BOP
INTERNET
Telephone directory: PÁGINAS AMARILLAS
Telephone directory: PÁGINAS BLANCAS
Telephone directory: QDQ
Empresa
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.26 |
|
UK Pound |
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.