MIRA INFORM REPORT
|
Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MONDRAGON ASSEMBLY S.COOP |
|
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Registered Office : |
Poligono Industrial Bainetxe, Pabellon 5a 20550 Aretxabaleta Gipuzko |
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Country : |
Spain |
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|
Financials (as on) : |
31.12.2002 |
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Date of Incorporation : |
01.01.1988 |
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Legal Form : |
Cooperative from Basque Country |
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Line of Business : |
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No. of Employees : |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
spain - ECONOMIC OVERVIEW
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
MONDRAGON ASSEMBLY S.COOP
CIF/NIF: F20165940
Company
situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: MONDRAGON ASSEMBLY S.COOP
Commercial name: MONDRAGON ENSAMBLE ; MONDRAGON ASSEMBLY
Other names: YES
Current Address: POLIGONO INDUSTRIAL
BAINETXE, PABELLON 5A
Telephone number: 943712080 Fax: 943712210
URL: www.mondragon-assembly.com
Corporate e-mail: info@mondragon-assembly.com
Financial Information
Balance sheet latest sales (2002): 17.109.499,00 € (Mercantile Register)
Result: 1.359.485 €
Total Assets: 17.911.128 €
Share capital: 2.735.871,00 €
Employees: 80
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 15/04/1988
Activity: Mfg. of machinery nec.
NACE 2009 CODE: 2829
International Operations: Imports and
Exports
Corporate Structure
Governing Board President:
Participations: 7
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2002
Latest act published in BORME: For its legal form the subject has no
obligation to be registered nor to present its financial statement in the
Mercantile Register, even if, exceptionally, could have had some proceedings
published in BORME for this kind of legal form.
Latest press article: 09/05/2012 EXPANSIÓN DEL PAIS
VASCO (GENERAL INFORMATION)
Bank Entities: There are
The date when this report was last updated is 30/04/2013.
The information contained in this report has been investigated and
contrasted on 30/04/2013
Financial situation
For the company’s financial situation calculation, alternative
indicators to the financial statements have been used, as these ones have lost
their validity regarding the current financial situation analysis caused by
their age.
Company Structure
The company’s capitalization degree determines that its structure
is normal.
The company’s size is medium depending on its sales volume.
The employees evolution has been negative.
Performance and Incidences
The available information indicates that the company does not have
payment incidences.
He have detected no recent legal actions or claims from the
Administration against this company.
Reasons of the last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
30/11/2012 |
Equal |
13 |
There has been a change in the formula version. |
INCIDENTS 
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT
Summary
COMPANY NOT INCLUDED IN EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI -
SECTORIAL DEFAULTS OF PAYMENT
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
26/04/2013 08:04:09
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in €
|
|
31/12/2000 (12) BALANCE SHEET |
31/12/2001 (12) BALANCE SHEET |
31/12/2002 (12) BALANCE SHEET |
% ASSETS |
|
|
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|
BALANCE SHEET ANALYSIS |
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||
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NET WORTH |
5.152.890,00 |
6.502.666,00 |
7.909.412,00 |
44,16 |
|
|
|
|
|
|
DEBT |
8.649.379,00 |
10.311.984,00 |
10.001.716,00 |
55,84 |
|
|
|
|
|
|
FIXED ASSETS |
2.167.293,00 |
2.434.869,00 |
5.280.191,00 |
29,48 |
|
|
|
|
|
|
TOTAL ASSETS |
13.802.269,00 |
16.814.650,00 |
17.911.128,00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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||
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|
31/12/2000 (12) BALANCE SHEET |
31/12/2001 (12) BALANCE SHEET |
31/12/2002 (12) BALANCE SHEET |
% SALES |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS |
|
|
|
|
|
|
|
||
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SALES |
11.494.761,00 |
14.511.237,00 |
17.109.499,00 |
|
|
|
|
|
|
|
ADDED VALUE |
4.031.745,49 |
4.576.093,00 |
5.663.455,00 |
33,10 |
|
|
|
|
|
|
EBITDA |
1.222.143,66 |
1.537.926,00 |
2.165.924,00 |
12,66 |
|
|
|
|
|
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EBIT |
900.877,66 |
1.414.932,00 |
1.549.692,00 |
9,06 |
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|
|
|
|
|
NET RESULT |
1.089.400,00 |
1.406.712,00 |
1.359.485,00 |
7,95 |
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OTHER DATA FROM THE ANNUAL
FINANCIAL REPORT
Results Distribution
Source: annual financial report 2002
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss |
1.359.485,00 |
Legal Reserve |
411.480,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
561.520,00 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
1.359.485,00 |
Dividends |
386.485,00 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2002
Auditors’ opinion: FAVOURABLE
Auditor: LKS AUDITORES S.L.
ADDRESSES
Current Legal Seat Address:
POLIGONO INDUSTRIAL BAINETXE, PABELLON 5A
20550 ARETXABALETA GIPUZKOA
Previous Seat Address:
CALLE BASABE POLIGONOA PABELLON E
20550 ARETXABALETA GIPUZKOA
Characteristics of the current address
Type of establishment: store,office
Local Situation: main
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE SAN ANDRES KALEA, 9000 |
20500 |
ARRASATE/MONDRAGON |
Gipuzkoa |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
27/04/2010)
Operative Board Members : 2 (latest change: 28/09/2009)
Non-current positions : 12 (latest change: 27/04/2010)
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
GOVERNING BOARD PRESIDENT |
GRUZETA OTADUI, IGNACIO |
27/04/2010 |
|
|
|
|
|
POSITION |
NAME AND SURNAME |
|
General Manager |
IMAZ BERROTARAN, LUISMARIA |
|
Human Resources Director |
ZABALETA MARIA, JESUS |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GRUZETA OTADUI IGNACIO |
|
Indef. |
OWN SOURCES |
19/07/2011 |
|
|
EIZAGUIRRE GURIDI JOSE MARIA |
|
Indef. |
OWN SOURCES |
19/07/2011 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
LIZARRITURRI MARTIARENA ASIER |
|
Indef. |
OWN SOURCES |
19/07/2011 |
|
|
RAMON GOIKOETXEA JOSE |
|
Indef. |
EXPANSIÓN |
06/11/1997 |
|
|
ELORDUZ ZAPATERITXE IGNACIO |
|
Indef. |
EXPANSIÓN |
06/11/1997 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
CIMA ROBOTIQUE |
FRANCE |
99,00 |
EMPRESA XXI |
01/01/2002 |
|
|
GAINDU MONDRAGON ASSEMBLY |
MEXICO |
50,00 |
MERCANTILE REGISTER |
31/12/2002 |
|
|
KIRO ROBOTICS SL. |
B75051425 |
Indef. |
CINCO DIAS |
02/09/2011 |
|
|
KONIKER S. COOP. |
F20782009 |
Indef. |
OWN SOURCES |
24/11/2010 |
|
|
MONDRAGON ASSEMBLY GMBH |
GERMANY |
Indef. |
EMPRESA XXI |
15/09/2002 |
|
|
CONCEPTION INDUSTRIELLE DE MOYENS AUTOMATISES |
FRANCE |
Indef. |
MERCANTILE REGISTER |
02/07/2002 |
|
|
CONCEPTION ET INGENIERIE DE SYSTEMES D’INFORMATION |
FRANCE |
Indef. |
OWN SOURCES |
02/02/1999 |
You can obtain business information of foreign companies at the
page D&B INTERNATIONAL
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SEI FAGOR |
FRANCE |
66,00 |
OWN SOURCES |
21/02/1996 |
|
|
DIMAQ TORELLO SL (EN LIQUIDACION) |
B59845339 |
50,00 |
OWN SOURCES |
28/11/2005 |
|
|
ENYCA INGENIERIA Y COMUNICACIONES SA (EXTINGUIDA) |
A39095633 |
12,65 |
EXPANSIÓN |
06/11/1997 |
You can obtain business information of foreign companies at the
page D&B INTERNATIONAL
Company with rating inferior to 7
POTENTIAL LINKS
Search Criterion: ”MONDRAGON ASSEMBLY S.COOP”
|
COMPANY FOUND |
PROVINCE |
|
MONDRAGON ASSEMBLY CATALUNYA SL. |
BARCELONA |
Search Criterion: ”MONDRAGON ASSEMBLY S.COOP”
URL: www.mondragon-assembly.com
Mondragon Assembly WebMap. Webmap · Aviso Legal | Política de
Privacidad © Mondragon Assembly , S.Coop. 2011. Aenor. Miembro de Epia.
Mondragon Assembly.
URL: www.mondragon-assembly.com
Aretxabaleta (Spain) - Mondragon Assembly Polígono
Industrial Bainetxe – Pab. 5-A. 20550
ARETXABALETA (Gipuzkoa) ...
BUSINESS INFORMATION
Incorporation date: 15/04/1988
Establishment date: 01/01/1988
Founder’s Name: LA TITULAR
Activity: Mfg. of machinery nec.
NACE 2009 CODE: 2829
NACE 2009 Activity: Manufacture of other general-purpose
machinery n.e.c.
Activity description: Fabricacion y venta sobre pedido de
maquinaria especial para ensamblaje
Latest employees figure: 80 (2011)
% of fixed employees: 100,00%
Employees evolution
|
|
|
|
COMMERCIAL OPERATIONS
SALES
Cash collections: 20%
Credit collections: 80%
Export Percentage: 35%
Exports to: Todo el mundo
National Distribution: 65%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
FAGOR ELECTRODOMESTICOS S COOP |
NO |
|
FAGOR ARRASATE S COOP |
NO |
|
FAGOR S COOP |
NO |
|
DIMAQ TORELLO SL |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
VALEO |
NO |
|
SIMON |
NO |
|
SAGEM COMMUNICATION |
NO |
|
NOVATEC BIOSOL |
NO |
|
BOSCH |
NO |
|
SIMON |
NO |
|
B BRAUN MEDICAL SA |
NO |
|
TENESOL SA |
NO |
|
FAGOR ELECTRODOMESTICO S COOP |
NO |
|
MONDRAGON ASSEMBLY SA |
NO |
There are 12 Clients
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
|
|
SAN SEBASTIAN |
|
|
CAJA LABORAL POPULAR COOP. DE CREDITO |
0001 |
ITURRIOTZ, 27 |
ARRASATE O MONDRAGON |
Gipuzkoa |
There are 2 bank entities registered
FORMER NAMES:
FAGOR SISTEMAS SCL
LEGAL STRUCTURE
Constitution Data
Register Date: 15/04/1988
Legal form: Cooperative from Basque Country
Share capital: 2.735.871,00 €
Paid-up capital: 2.735.871,00 €
Obligation to fill in Financial Statements: NO
Chamber census: YES (2011)
B.O.R.M.E. (Official Gazette of
the Mercantile Register)
For its legal form the subject has no obligation to be registered nor to
present its financial statement in the Mercantile Register, even if,
exceptionally, could have had some proceedings published in BORME for this kind
of legal form.
PRESS ARTICLES
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 1 (Last: 02/09/2011)
Informative data: 3 (Last: 09/05/2012, first: 15/09/2009)
Financial Information: 3 (Last: 30/12/2010, first: 20/11/2008)
Negative information: 0
Business lines: 0
Historical press releases: 16 (Last: 01/04/2005, first:
30/04/1994)
Latest press article published
09/05/2012 EXPANSIÓN DEL PAIS VASCO - GENERAL INFORMATION
The cooperative Guipuzcoa MONDRAGON ASSEMBLY, specializing in automation and robotics, has won two new
orders for more than 11 million euros in Lithuania and
Central Asia in the first raid of the company in these
markets. According to the company, contracts with high technological content, confirming its international vocation.
02/09/2011 CINCO DIAS (Page 9) SHAREHOLDERS
AND HOLDINGS
Group Four MONDRAGON cooperatives have partnered to form KIRO ROBOTICS a sdad. to be devoted to business process automation hospital. In the new sdad., Based
in Aretxabaleta (Guipúzcoa), the initial capital (80,000 euros) has been signed by the signatures MONDRAGON ASSEMBLY, GROUPING OF CAST AND TOOLS, MONDRAGON MONDRAGON INDUSTRIARAKO AUTOMATIZAZIOA and FOUNDRY TOOLING AND SYSTEMS. The creation of this sdad. is
part of the MONDRAGON growth strategy HEALTH, division of health business.
01/03/2011 ESTRATEGIA
EMPRESARIAL (Page 4) GENERAL INFORMATION
KONIKER technological
center specialized
in the research and
development of new technologies forming and assembly processes, have developed
a prototype laser scribing machine for the production of thin-film photovoltaic panels. Gipuzkoa center has developed this technology to one of the member companies of the entity, MONDRAGON ASSEMBLY, which performs the processing and marketing.
Moreover, KONIKER has signed a collaboration agreement with MONDRAGON UNIBERTSITATEA and FAGOR ARRASATE to develop two lines of research: fatigue calculation and simulation applied to capital goods to design machines with greater
longevity.
30/12/2010 EXPANSIÓN (Page 10) FINANCIAL
DATA
MONDRAGON ASSEMBLY The cooperative expects to close 2010 with sales of 22 million euros, which
is expected to increase to
35 million in 2011.
On the other hand the Basque group cooperative MONDRAGÓN, Robotics and Automation in China has made a contract for 10 million euros, the
highest in its history.
02/12/2009 EL DIARIO VASCO - FINANCIAL DATA
EIGHT MEMBERS OF THE COOPERATIVE GROUP FORMING FAGOR (FAGOR appliances, FAGOR ARRASATE, FAGOR EDERLAN, COPRECI, FAGOR INDUSTRIAL, MONDRAGON ASSEMBLY, FAGOR FAGOR AUTOMATION AND ELECTRONIC) HAVE REJECTED THE PROPOSAL OF THE DIRECTION OF GIVING
UP YOUR PAY HALF EXTRA CHRISTMAS AS A MEASURE TO THE plight SOME OF ITS. INITIATIVE GROUP HAS ALLOWED TO SAVE 6 MM. EUROS. THE GENERAL COUNCIL intended ALLOT 75% OF THE SAVED TO BALANCE THE ACCOUNTS OF RESULTS
OF COOPERATIVE AND THE REMAINING 25% FOR
A SOLIDARITY
FUND TO HELP COMPANIES GROUP SITUATION WORSE.
Complementary Information
Other Complementary Information
Cooperativa formada por 80 socios trabajadores.
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 24/10/2004.
BALANCE SHEET
Assets
Figures given in €
|
|
31/12/2000 (12) |
31/12/2001 (12) |
31/12/2002 (12) |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
B) FIXED ASSETS |
2.167.293,00 |
2.434.869,00 |
5.280.191,00 |
|
I. Incorporation costs |
|
|
|
|
II. Intangible fixed assets |
116.265,00 |
94.430,00 |
67.983,00 |
|
Software |
268.510,00 |
288.545,00 |
307.960,00 |
|
Amortizations |
-152.245,00 |
-194.115,00 |
-239.977,00 |
|
III. Tangible fixed assets |
1.113.006,00 |
1.117.784,00 |
3.621.829,00 |
|
Property, plant and equipment |
1.207.790,00 |
1.207.790,00 |
2.053.769,00 |
|
Machinery, equipment and other |
239.975,00 |
248.467,00 |
248.467,00 |
|
Other property plant and equipment |
703.767,00 |
729.465,00 |
1.979.796,00 |
|
Prepaid expenses on fixed assets |
9.016,00 |
76.744,00 |
|
|
Other assets |
220.958,00 |
257.916,00 |
280.445,00 |
|
Amortizations |
-1.268.500,00 |
-1.402.598,00 |
-940.648,00 |
|
IV. Financial fixed assets |
938.022,00 |
1.222.655,00 |
1.590.379,00 |
|
Shares in affiliated companies |
65.717,00 |
523.664,00 |
846.205,00 |
|
Long term Securities portfolio |
872.305,00 |
851.611,00 |
1.139.126,00 |
|
Provisions |
|
-152.620,00 |
-394.952,00 |
|
V. Own Shares |
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
D) CURRENT ASSETS |
11.634.976,00 |
14.379.781,00 |
12.630.937,00 |
|
I. Shareholders by required outlays |
22.920,00 |
23.262,00 |
30.269,00 |
|
II. Stocks |
1.915.968,00 |
4.027.760,00 |
2.376.628,00 |
|
Raw material inventory |
68.416,00 |
80.986,00 |
115.890,00 |
|
Work in Progress |
1.646.723,00 |
3.041.925,00 |
2.123.034,00 |
|
Cash advance |
251.915,00 |
904.849,00 |
137.704,00 |
|
Provisions |
-51.086,00 |
|
|
|
III. Debtors |
5.139.113,00 |
5.600.899,00 |
5.583.892,00 |
|
Clients |
4.935.600,00 |
4.790.020,00 |
4.897.536,00 |
|
Amounts owned by associated companies |
82.071,00 |
919.868,00 |
329.314,00 |
|
Other debts |
719.714,00 |
462.990,00 |
1.054.705,00 |
|
Staff |
397,00 |
632,00 |
140,00 |
|
Government |
13.877,00 |
39.935,00 |
77.637,00 |
|
Provisions |
-612.546,00 |
-612.546,00 |
-775.440,00 |
|
IV. Temporary financial investment |
4.555.672,00 |
4.447.490,00 |
4.610.104,00 |
|
Receivables in affiliated companies |
4.555.672,00 |
2.325.917,00 |
824.737,00 |
|
Short term investment |
|
2.121.573,00 |
4.117.855,00 |
|
Provisions |
|
|
-332.488,00 |
|
V. Short-term own shares |
|
|
|
|
VI. Treasury |
1.303,00 |
280.066,00 |
29.892,00 |
|
VII. Periodification adjustments |
|
304,00 |
152,00 |
|
TOTAL ASSETS (A + B + C + D) |
13.802.269,00 |
16.814.650,00 |
17.911.128,00 |
Liabilities
Figures given in €
|
|
31/12/2000 (12) |
31/12/2001 (12) |
31/12/2002 (12) |
|
A) EQUITY |
5.152.890,00 |
6.502.666,00 |
7.909.412,00 |
|
I. Issued Capital |
1.703.234,00 |
2.194.949,00 |
2.735.871,00 |
|
II. Issue premium |
|
|
|
|
III. Revaluation reserve |
212.103,00 |
212.103,00 |
212.103,00 |
|
IV. Reserves |
2.148.153,00 |
2.688.902,00 |
3.601.953,00 |
|
Legal Reserve |
42.439,00 |
42.439,00 |
1.917.345,00 |
|
Other funds |
2.105.714,00 |
2.646.463,00 |
1.684.608,00 |
|
V. Results from previous years |
|
|
|
|
VI. Profit and Losses |
1.089.400,00 |
1.406.712,00 |
1.359.485,00 |
|
VII. Dividend paid during the year |
|
|
|
|
VIII. Own shares for capital reduction |
|
|
|
|
B) DEFERRED INCOME |
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
D) LONG TERM LIABILITIES |
820.406,00 |
1.036.086,00 |
2.947.211,00 |
|
I. Bonds issue and other negotiable values |
497.638,00 |
787.036,00 |
921.299,00 |
|
Non convertible securities |
|
|
921.299,00 |
|
Other convertible debentures |
497.638,00 |
787.036,00 |
|
|
II. Debts with bank entities |
270.455,00 |
216.364,00 |
2.000.000,00 |
|
Long term bank loans |
270.455,00 |
216.364,00 |
2.000.000,00 |
|
III. Debts with associated and affiliated companies |
|
|
|
|
IV. Other creditors |
52.313,00 |
32.686,00 |
25.912,00 |
|
Other debts |
52.313,00 |
32.686,00 |
25.912,00 |
|
V. Deferred debts on shares |
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
E) SHORT TERM LIABILITIES |
7.828.973,00 |
9.275.898,00 |
7.054.505,00 |
|
I. Bonds issue and other negotiable values |
|
|
|
|
II. Debts with bank entities |
36.412,00 |
56.867,00 |
88.490,00 |
|
Loans and other debts |
36.412,00 |
56.867,00 |
88.490,00 |
|
III. Short term debts with associated and affiliated companies |
237.310,00 |
413.491,00 |
467.278,00 |
|
With affiliated companies |
237.310,00 |
413.491,00 |
467.278,00 |
|
IV. Trade creditors |
6.237.628,00 |
7.413.979,00 |
5.273.661,00 |
|
Accounts payable |
3.583.300,00 |
4.377.736,00 |
911.207,00 |
|
Expenses |
2.654.328,00 |
3.036.243,00 |
4.362.454,00 |
|
V. Other non-commercial debt |
1.026.161,00 |
1.112.767,00 |
960.291,00 |
|
Government |
404.374,00 |
243.913,00 |
215.397,00 |
|
Other debts |
217.296,00 |
382.158,00 |
247.191,00 |
|
Accounts receivable |
404.491,00 |
486.696,00 |
497.703,00 |
|
VI. Provisions for current assets |
291.462,00 |
278.794,00 |
264.785,00 |
|
VII. Periodification adjustments |
|
|
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
13.802.269,00 |
16.814.650,00 |
17.911.128,00 |
PROFIT AND LOSS ACCOUNT
Items of the Profit and Loss Account
Figures given in €
|
|
31/12/2000 (12) |
31/12/2001 (12) |
31/12/2002 (12) |
|
A) EXPENSES (A.1 a A.15) |
11.445.067,00 |
13.873.802,00 |
16.663.360,00 |
|
A.1. Operating costs |
7.154.343,75 |
9.011.407,00 |
10.387.618,00 |
|
A.2. Labour cost |
2.809.601,83 |
3.038.167,00 |
3.497.531,00 |
|
Wages |
2.119.215,91 |
2.271.938,00 |
2.599.109,00 |
|
Social security expenses |
690.385,92 |
766.229,00 |
898.422,00 |
|
A.3. Assets Amortization |
171.760,00 |
175.969,00 |
189.287,00 |
|
A.4. Variation in provision for current assets and bad debt losses |
149.506,00 |
-52.975,00 |
426.945,00 |
|
A.5. Other operating costs |
931.503,76 |
1.228.295,00 |
1.526.474,00 |
|
A.I. OPERATING RESULT (B.1-A.1-A.2-A.3-A.4-A.5) |
900.877,66 |
1.414.932,00 |
1.549.692,00 |
|
A.6. Financial expenses and similar |
175.589,91 |
230.955,00 |
285.079,00 |
|
Other companies debts |
175.589,91 |
230.955,00 |
285.079,00 |
|
A.7. Variation in financial investment provision |
|
|
|
|
A.8. Negative change difference |
412,92 |
|
1.397,00 |
|
A.II. POSITIVE FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8) |
240.871,17 |
210.122,00 |
105.939,00 |
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
1.141.748,83 |
1.625.054,00 |
1.655.631,00 |
|
A.9. Variation in provision in fixed assets |
|
152.619,00 |
|
|
A.10. Losses in fixed assets |
15.389,00 |
1.766,00 |
300.000,00 |
|
A.11. Losses from own shares and bonds |
|
|
1.307,00 |
|
A.12. Extraordinary charges |
1.562,92 |
|
100,00 |
|
A.13. Other exercises’ expenses and losses |
|
|
|
|
A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
|
|
|
|
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
1.124.796,91 |
1.494.311,00 |
1.407.107,00 |
|
A.14. Corporate Taxes |
35.396,91 |
87.599,00 |
47.622,00 |
|
A.15. Other taxes |
|
|
|
|
A.VI. EXERCISE RESULT (PROFIT) (A.V-A.14-A.15) |
1.089.400,00 |
1.406.712,00 |
1.359.485,00 |
|
B) INCOMES (B.1 to B.8) |
12.534.467,00 |
15.280.514,00 |
18.022.845,00 |
|
B.1. Operating income |
12.117.593,00 |
14.815.795,00 |
17.577.547,00 |
|
Net Turnover |
11.494.761,00 |
14.511.237,00 |
17.109.499,00 |
|
Other operating income |
622.832,00 |
304.558,00 |
468.048,00 |
|
B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
|
B.2. Financial Income |
416.874,00 |
440.960,00 |
381.873,00 |
|
From affiliated companies |
277.991,00 |
238.221,00 |
|
|
From associated companies |
8.941,00 |
11.503,00 |
|
|
Other |
129.942,00 |
191.236,00 |
381.873,00 |
|
B.3. Positive change difference |
|
117,00 |
10.542,00 |
|
B.II. NEGATIVE FINANCIAL RESULTS (A.6+A.7+A.8-B.2-B.3) |
|
|
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
|
B.4. B.9. Gains from disposal of fixed assets |
|
|
52.883,00 |
|
B.5. Gains from dealing in own shares |
|
|
|
|
B.6. Paid in surplus |
|
|
|
|
B.7. Extraordinary income |
|
|
|
|
B.8. Other year’s income and profits |
|
23.642,00 |
|
|
B.IV. NEGATIVE EXTRAORDINARY LOSSES (A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
16.951,92 |
130.743,00 |
248.524,00 |
|
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 €
|
|
31/12/2000 (12) |
% |
31/12/2001 (12) |
% |
31/12/2002 (12) |
% |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
|
|
B) FIXED ASSETS |
2.167.293,00 |
15,70 |
2.434.869,00 |
14,48 |
5.280.191,00 |
29,48 |
|
C) DEFERRED EXPENSES |
|
|
|
|
|
|
|
D) CURRENT ASSETS |
11.634.976,00 |
84,30 |
14.379.781,00 |
85,52 |
12.630.937,00 |
70,52 |
|
TOTAL ASSETS (A + B + C + D) |
13.802.269,00 |
|
16.814.650,00 |
|
17.911.128,00 |
|
|
|
||||||
|
A) EQUITY |
5.152.890,00 |
37,33 |
6.502.666,00 |
38,67 |
7.909.412,00 |
44,16 |
|
B) DEFERRED INCOME |
|
|
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
|
|
D) LONG TERM LIABILITIES |
820.406,00 |
5,94 |
1.036.086,00 |
6,16 |
2.947.211,00 |
16,45 |
|
E) SHORT TERM LIABILITIES |
7.828.973,00 |
56,72 |
9.275.898,00 |
55,17 |
7.054.505,00 |
39,39 |
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
13.802.269,00 |
|
16.814.650,00 |
|
17.911.128,00 |
|
RATIOS
Main Ratios
|
|
31/12/2000 (12) |
31/12/2001 (12) |
31/12/2002 (12) |
|
BALANCE RATIOS |
|||
|
Working Capital (€) |
3.806.003,00 |
5.103.883,00 |
5.576.432,00 |
|
Working capital ratio |
0,28 |
0,30 |
0,31 |
|
Working capital requirement (€) |
-714.560,00 |
433.194,00 |
1.024.926,00 |
|
Soundness Ratio |
2,38 |
2,67 |
1,50 |
|
External Funds on Equity |
1,68 |
1,59 |
1,26 |
|
Average collection period (days) |
161 |
139 |
117 |
|
Average payment period (days) |
278 |
261 |
159 |
|
LIQUIDITY RATIOS |
|||
|
Current ratio (%) |
148,61 |
155,02 |
179,05 |
|
Quick Ratio (%) |
58,21 |
50,97 |
65,77 |
|
Treasury (€) |
4.520.563,00 |
4.670.689,00 |
4.551.506,00 |
|
Sales on current assets (days) |
356 |
363 |
488 |
|
DEBT RATIOS |
|||
|
Borrowing Percentage (%) |
7,55 |
8,76 |
19,41 |
|
External Financing Average Cost |
0,17 |
0,16 |
0,08 |
|
Debt Service Coverage |
0,83 |
0,93 |
2,24 |
|
Interest Coverage |
5,13 |
6,13 |
5,44 |
|
GENERAL ACTIVITY RATIOS |
|||
|
Auto financing generated by sales (%) |
10,97 |
10,91 |
9,05 |
|
Auto financing generated by Assets (%) |
9,14 |
9,41 |
8,65 |
|
Breakdown Point |
1,08 |
1,11 |
1,10 |
|
Average Sales Volume per Employee |
|
|
194.426,12 |
|
Average Cost per Employee |
|
|
39.744,67 |
|
Assets Turnover |
0,83 |
0,86 |
0,96 |
|
Inventory Turnover (days) |
96 |
161 |
82 |
|
Increase of the Sales Figures (%) |
|
26,24 |
17,90 |
|
Added value growth (%) |
|
13,50 |
23,76 |
|
Labour Productivity |
1,44 |
1,51 |
1,62 |
|
Cash flow (€) |
1.410.666,00 |
1.682.325,00 |
1.975.717,00 |
|
SOLVENCY RATIOS |
|||
|
Payback Capacity |
0,16 |
0,16 |
0,20 |
|
Assets Guarantee |
1,60 |
1,63 |
1,79 |
|
Short Term Debts Proportion (%) |
90,52 |
89,95 |
70,53 |
Results Analysis Ratios
|
|
31/12/2000 (12) |
31/12/2001 (12) |
31/12/2002 (12) |
|
Return on Assets (ROA) (%) |
6,53 |
8,42 |
8,65 |
|
Return on Equity (ROE) (%) |
21,83 |
22,98 |
17,79 |
|
Operating Profitability (%) |
8,86 |
9,15 |
12,09 |
|
General Profitability (%) |
9,48 |
9,69 |
7,95 |
|
Equity gearing |
3,40 |
2,97 |
2,42 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.