MIRA INFORM REPORT

 

 

Report Date :

08.12.2014

 

IDENTIFICATION DETAILS

 

Name :

CRYSTALITE BOHEMIA S.R.O.

 

 

Formerly Known As :

PROTECT PRAHA S.R.O.                                           

VIVARIA S.R.O.                                                  

 

 

Registered Office :

Zámecká 730, 582 91 Světlá nad Sázavou    

 

 

Country :

Czech Republic

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

05.05.2000

 

 

Legal Form :

Private limited company                                                        

 

 

Line of Business :

·         Manufacture and sale of machine blown glass for beverages as well as of glass for household.  

·         Manufacture of hollow glass                                   

 

 

No of Employees :

720

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 


 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Slow but correct

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Czech Republic

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

CZECH REPUBLIC - ECONOMIC OVERVIEW

 

The Czech Republic is a stable and prosperous market economy closely integrated with the EU, especially since the country's EU accession in 2004. The auto industry is the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported. While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell sharply in 2009. The economy slowly recovered in the second half of 2009 and registered weak growth in the next two years. In 2012, however, the economy fell into a recession again, due both to a slump in external demand and to the government’s austerity measures. The country pulled out of recession in the second half of 2013, and most analysts expect modest, but steady, growth through 2014. Foreign and domestic businesses alike voice concerns about corruption, especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

 

Source : CIA

 

 


Company name & address

 

CRYSTALITE BOHEMIA S.R.O.

Zámecká 730                            

582 91 Světlá nad Sázavou    

telephone: 00420/ 569 477 111          

telefax: 00420/ 569 477 591            

e-mail: crystalite@crystalite.org      

Web: www.crystalite.org        

 

 

Company summary

 

Company         Constant company development                                  

development                                                                    

Order situation Satisfactory order situation                                   

Terms of        mostly no complaints, but occasional delays /             

payment         reminders                                                      

Business        Business connections appear permissible                        

connection                                                                     

                                                                               

Legal form                     Private limited company                                                        

Foundation                    05/05/2000 - Private limited company                             

Comp. Register              05/08/2009, Krajský soud Hradec Králové, RegNr.: C 26606       

                                    05/05/2000, Městský soud v Praze, RegNr.: C 76966              

Statistical number:         26174723                                   

Tax number:                  CZ26174723                                         

Share Capital      05/05/2000                                           CZK           100 000,-    

Shareholders       Lubor Cerva (03.11.1962)                      CZK           100 000,-    

                Šermířská 2384/1a, 169 00 Praha 6                              

Management         Lubor Cerva (03.11.1962)                                        

                Šermířská 2384/1a, 169 00 Praha 6                              

                Executive Manager                                              

                E-mail:cerva@crystalite.org                                     

General Data       Manufacture and sale of machine blown glass for beverages as   

                well as                                                        

                of glass for household.                                         

                Main activity:                                                 

                Manufacture of hollow glass                             

                Former name(s)                                                 

                PROTECT PRAHA s.r.o.                                           

                Beginning of validity: 05.05.2000                              

                End of validity: 03.03.2008                                    

                VIVARIA s.r.o.                                                 

                Beginning of validity: 03.03.2008                              

                End of validity: 13.07.2009                                    

                Trade name(s)                                                   

                CRYSTALITE BOHEMIA s.r.o.                                      

                Beginning of validity: 13.07.2009                              

                Export:         90%                                             

                European Union                                                 

                Japan                                                          

                USA                                                             

                Russia                                                         

                General contacts:                                              

                telephone:                                                     

                00420/ 569 477 111                                             

                telefax:                                                       

                00420/ 569 477 591                                             

                e-mail:                                                        

                crystalite@crystalite.org                                      

                Web:                                                           

                www.crystalite.org                                             

                Address:                                                       

                Zámecká 730, 582 91 Světlá nad Sázavou                         

                Beginning of validity: 30.07.2014                              

                Zámecká 730, 582 91 Světlá nad Sázavou                         

                Beginning of validity: 23.06.2009                              

                End of validity: 30.07.2014                                     

                Šermířská 2384/1A, 169 00 Praha 6                              

                Beginning of validity: 03.03.2008                              

                End of validity: 23.06.2009                                     

                Za Strahovem 69/373, 169 00 Praha 6                            

                Beginning of validity: 05.05.2000                              

                End of validity: 03.03.2008                                     

                Branches of the business:                                      

                nám. E. Zahna 329, 687 66 Strání - Květná                      

Staff        2009    188 employees                                          

                2010    321 employees                                          

                2011    507 employees                                          

                2013    661 employees                                          

                2014    720 employees                                          

Annual Sales      

   2008            actual sales                                         CZK                 0,-    

                2009            actual sales                                         CZK        97 152 000,-    

                2010            actual sales                                         CZK       475 825 000,-    

                2011            actual sales                                         CZK       608 239 000,-    

                2012            actual sales                                         CZK       831 012 000,-    

                2013            actual sales                                         CZK       801 392 000,-    

                The company is not registered in the Central register of       

                executions.                                                    

                                                                               

                The firm has taken up its activity in October 2009.            

Property        Property of the company: Business premises                     

                                                                            

                CZ-687 66 Strání - Květná, nám. Em. Zahna  329                 

                                                                               

                Property of the company: Business premises                                                                                     

                                                                               

                 Zástavní právo smluvn (verified in the real estate registry)  

                CZ-582 91 Světlá nad Sázavou, Zámecká 730                       

Balance sheets  The enclosed profit/loss account of 2013 from business         

                register, -. (31.12.2013 - 1 CZK)                              

                The enclosed profit/loss account of 2012 from business          

                register, -. (31.12.2012 - 1 CZK)                              

                The enclosed profit/loss account of 2011 from business         

                register, it is authenticated by the auditor. (31.12.2011 - 1  

                CZK)                                                           

                The enclosed balance of 2013 from business register, -.        

                (31.12.2013 - 1 CZK)                                           

                The enclosed balance of 2012 from business register, -.        

                (31.12.2012 - 1 CZK)                                           

                The enclosed balance of 2011 from business register, it is     

                authenticated by the auditor. (31.12.2011 - 1 CZK)             

Remarks            All the sources of negative data accessible to public          

                (insolvency registers, databases of debtors of health          

                insurance institutions, commercial bulletin, collection        

                database of others) are currently monitored.  

 

                Business management:                                           

                                                                                

                 Jaroslav Kloc – general manager, mobile phone: 00420/ 775 583 

                604, e-mail: kloc@crystalite.org                               

                                                                               

                 Ing. Marek Mikláš - director Květná, mobile phone: 00420/ 602 

                251 965, e-mail: miklas@crystalite.org                         

                                                                               

                 Ing. Zdeněk Cakl – financial and staff director, phone: 00420/

                 569 477 500,                                                  

                mobile phone: 00420/ 775 583 603, e-mail: cakl@crystalite.org  

                                                                                

                 Zdeněk Dvořák – technical director, mobile phone: 00420/ 775  

                583 602, e-mail: dvorak@crystalite.org                         

                                                                                

                 Ing. Martin Jonáš – production director, mobile phone: 00420/ 

                775 583 601, e-mail: jonas@crystalite.org                      

                                                                                

                 Tomáš Fiřt – business director, mobile phone: 00420/ 775 583  

                605, e-mail: firt@crystalite.org                               

                                                                                

                Other entrepreneurial interests:                               

                                                                               

                   Lubor Cerva                                                 

                                                                               

                - DG TACHOV s.r.o., IČ 25244302, executive, associate 100 %    

                                                                               

                 - SKLÁRNY SVĚTLÁ NAD SÁZAVOU s.r.o., IČ: 28807111, executive, 

                associate 90%                                                  

                                                                               

                - GLASFABRIK KVĚTNÁ s.r.o. , IČ 29283477, executive, associate 

                90%                                                            

                                                                               

                 The original production was performed in the company Sklo     

                Bohemia,  a.s., IČ 48173371, which has been subject to         

                insolvency proceedings  since  2008 and, since November  2008, 

                it has been subject to  bankruptcy.  Glass production was      

                stopped in October  2008. In the  company  Sklo Bohemia, a.s,  

                1100 employees were engaged in 2008. Turnover for the year     

                2006 amounted to CZK                                            

                1.041 mill; in 2007, it was CZK 1.227 mill.                    

                                                                               

                 Glass production was renewed after one year’s stop, at the    

                beginning of October 2009.                                     

                                                                                                                                         

                 To the company CRYSTALITE BOHEMIA s.r.o., 582 91 Světlá nad   

                Sázavou,  Zámecká 730, IČ 26174723 property of the             

                disappearing company  Moravské sklárny Květná s.r.o., 687 66   

                Strání – Květná, nám. E. Zahna  čp. 329, IČ 26284812 has been  

                transferred as to the successor company  in consequence of     

                fusion by merger.  Record date of the fusion was 01.01.2013.   

                                                                                

                Contact:                                                       

                                                                               

                   Mrs. Vogelová, chief accountant, phone: 00420/ 569 477 207  

Bankers            HSBC Bank plc - pobočka Praha                           

                Account number: 1559303103/                                    

                8150                                                     

                                                                               

                Raiffeisenbank, a. s.                                    

                                                                               

                Account number: 5004043334/                           

                5500                                                           

                Komerční banka, a.s.                                           

                                                                          

                Account number: 43-5162710227/                                 

                0100                                                     

                                                                                

                HSBC Bank plc - pobočka Praha                                  

                Account number: 1559304050/                                    

                8150                                                            

                Account number: 000000-                                        

                1559300105/8150                                                

                Account number: 000000-                                        

                1559300500/8150                                                

                Account number: 000000-                                        

                1559300201/8150                                                

                                                                                

                Raiffeisenbank, a. s.                                          

                                                                               

                Account number: 000000-                                        

                5200010521/5500                                                

                Account number: 000000-                                        

                5200010505/5500                                                 

                Account number: 000000-                                        

                5200010548/5500                                                

                Account number: 000000-                                         

                5200010513/5500                                                

                                                                               

                HSBC Bank plc - pobočka Praha                                   

                Account number: 000000-                                        

                1559300607/8150                                                

                Account number: 000000-                                        

                1559302004/8150                                                

                Account number: 000000-                                        

                1559301001/8150                                                

                                                                                

                Komerční banka, a.s.                                           

                                                                               

                Account number: 000043-                                        

                5162750237/0100                                                

                Account number: 000043-                                        

                5191320287/0100                                                 

Copyright:      This information is addressed exclusively to the addressee.    

            Contractor obligates to provide updated information. Although  

s.r.o. Praha    it is always put maximum effort to collect actual and exact    

                information, it is not confirmed as delinquency if there are   

                particular inaccurateness contained within the information,    

                which are not considered as essential in terms of the           

                objective for which the information is provided to the         

                addressee. Contractor and recipient conform to the rules of    

                the Name and Description Security Act, Nub.101/2000. According 

                to the Name and Description Security Act, recipient has the    

                right to process or to use forwarding data only for the        

                purpose for which information has been sent to the recipient.  

                Usage for other purpose is acceptable only in case referring   

                to valid regulations of the above mentioned act.               

 

 

Financials

 

   balance                  31.12.2010    31.12.2011   31.12.2012    31.12.2013

                                 (CZK)         (CZK)        (CZK)         (CZK)

>r1 >TOTAL ASSETS          >329 137 000  >393 651 000 >486 556 000  >583 713 000

r2 Receivables for                   0                          0             0

   subscriptions                                                                

>r3 >Fixed assets          >116 149 000  >108 959 000 >174 453 000  >184 904 000

>r4 >Intangible fixed        >1 687 000      >989 000     >381 000      >384 000

   assets                                                                       

r5 Incorporation expenses            0                          0             0

r6 Research and                      0                          0             0

   development                                                                  

r7 Software                  1 687 000       989 000      204 000       334 000

r8 Valuable rights                   0                          0             0

r9 Goodwill                          0                          0             0

r10 Other intangible                  0                    177 000        50 000

   fixed assets                                                                

r11 Intangible fixed                  0                          0             0

   assets under                                                                

   construction                                                                

r12 Advance payments for              0                          0             0

   intangible fixed                                                            

   assets                                                                      

>r13 >Tangible fixed assets  >114 462 000  >107 970 000 >174 072 000  >184 520 000

r14 Lands                     6 163 000     6 158 000   10 229 000    10 218 000

r15 Constructions            70 848 000    68 844 000   86 402 000    85 048 000

r16 Equipment                37 451 000    32 908 000   77 441 000    80 414 000

r17 Perennial corps                   0                          0             0

r18 Breeding and draught              0                          0             0

   animals                                                                     

r19 Other tangible fixed              0                          0             0

   assets                                                                      

r20 Tangible fixed assets             0        60 000            0       323 000

   under construction                                                           

r21 Advance payments for              0                          0     8 517 000

   tangible fixed assets                                                       

r22 Adjustment to                     0                          0             0

   acquired assets                                                             

>r23 >Long-term financial             >0            >0           >0            >0

   assets                                                                       

r24 Shares in controlled              0                          0             0

   and managed                                                                 

   organizations                                                               

r25 Shares in accounting              0                          0             0

   units with                                                                  

   substantial influence                                                       

r26 Other securities and              0                          0             0

   shares                                                                      

r27 Loans to controlled               0                          0             0

   and managed                                                                  

   organizations and to                                                        

   accounting unit with                                                        

   substantial influence                                                        

r28 Other financial                   0                          0             0

   investments                                                                 

r29 Financial investments             0                          0             0

   acquired                                                                    

r30 Advance payments for              0                          0             0

   long-term financial                                                          

   assets                                                                      

>r31 >Current assets        >212 480 000  >284 088 000 >309 522 000  >397 340 000

>r32 >Inventory              >84 141 000  >152 719 000 >175 805 000  >241 649 000

r33 Materials                18 766 000    24 760 000   32 333 000    26 382 000

r34 Work in progress and      8 329 000    28 835 000   33 289 000    29 455 000

   semi-products                                                               

r35 Finished products        51 731 000    86 475 000  101 747 000   145 912 000

r36 Animals                           0                          0             0

r37 Merchandise               4 537 000    11 979 000    7 841 000    37 631 000

r38 Advance payments for        778 000       670 000      595 000     2 269 000

   inventory                                                                   

>r39 >Long-term receivables     >3 000 000            >0           >0    >2 031 000

r40 Trade receivables         3 000 000                          0             0

r41 Receivables from                  0                          0             0

   controlled and                                                              

   managed organizations                                                        

r42 Receivables from                  0                          0             0

   accounting units with                                                       

   substantial influence                                                        

r43 Receivables from                  0                          0             0

   partners, cooperative                                                       

   members and                                                                  

   association members                                                         

r44 Long-term deposits                0                          0     2 031 000

   given                                                                        

r45 Estimated receivable              0                          0             0

r46 Other receivables                 0                          0             0

r47 Deferred tax                      0                          0             0

   receivable                                                                  

>r48 >Short-term             >69 335 000  >119 739 000 >107 393 000  >140 527 000

   receivables                                                                 

r49 Trade receivables        60 667 000    91 019 000   95 611 000   125 398 000

r50 Receivables from                  0                          0             0

   controlled and                                                              

   managed organizations                                                       

r51 Receivables from                  0                          0             0

   accounting units with                                                       

   substantial influence                                                       

r52 Receivables from                  0        15 000            0             0

   partners, cooperative                                                       

   members and                                                                  

   association members                                                         

r53 Receivables from                  0                          0             0

   social security and                                                          

   health insurance                                                            

r54 Due from state - tax      5 850 000    18 177 000    9 409 000    10 124 000

   receivable                                                                   

r55 Short-term deposits         302 000     8 329 000    2 302 000     3 459 000

   given                                                                       

r56 Estimated receivable      2 452 000     2 123 000       13 000     1 511 000

r57 Other receivables            64 000        76 000       58 000        35 000

>r58 >Short-term financial   >56 004 000   >11 630 000  >26 324 000   >13 133 000

   assets                                                                      

r59 Cash                        342 000       742 000    2 483 000     1 151 000

r60 Bank accounts            55 662 000    10 888 000   23 841 000    11 982 000

r61 Short-term securities             0                          0             0

   and ownership                                                               

   interests                                                                   

r62 Short-term financial              0                          0             0

   assets acquired                                                              

>r63 >Accruals                  >508 000      >604 000   >2 581 000    >1 469 000

r64 Deferred expenses           508 000       604 000    1 890 000     1 469 000

r65 Complex deferred costs            0                          0             0

r66 Deferred income                   0                    691 000             0

>r67 >TOTAL LIABILITIES     >329 137 000  >393 651 000 >486 556 000  >583 713 000

>r68 >Equity                 >38 105 000   >39 758 000 >114 093 000  >136 177 000

>r69 >Registered capital        >100 000      >100 000     >100 000      >100 000

r70 Registered capital          100 000       100 000      100 000       100 000

r71 Company’s own shares              0                          0             0

   and ownership                                                               

   interests (-)                                                               

r72 Changes of registered             0                          0             0

   capital ( +/- )                                                             

>r73 >Capital funds                   >0            >0  >45 000 000   >40 200 000

r74 Share premium                     0                          0             0

r75 Other capital funds               0                 45 000 000    20 000 000

r76 Differences from                  0                          0             0

   revaluation of assets                                                       

   and liabilities ( +/-                                                       

   )                                                                           

r77 Differences from                  0                          0    20 200 000

   revaluation in                                                              

   transformation ( +/- )                                                       

>r78 >Reserve funds,             >10 000       >10 000      >10 000       >75 000

   statutory reserve                                                            

   account for                                                                 

   cooperatives, and                                                           

   other retained                                                               

   earnings                                                                    

r79 Legal reserve fund /         10 000        10 000       10 000        75 000

   indivisible fund                                                             

r80 Statutory and other               0                          0             0

   funds                                                                       

>r81 >Profit / loss -        >15 143 000   >37 995 000  >39 646 000   >55 020 000

   previous years                                                              

r82 Retained earnings        15 143 000    37 995 000   39 646 000    55 020 000

   from previous years                                                          

r83 Accumulated losses                0                          0             0

   from previous years                                                         

>r84 >Profit / loss -        >22 852 000    >1 653 000  >29 337 000   >40 782 000

   current year  (+/-)                                                         

>r85 >Liabilities           >286 729 000  >345 950 000 >367 296 000  >437 604 000

>r86 >Reserves               >30 000 000            >0           >0            >0

r87 Reserves under           30 000 000                          0             0

   special statutory                                                           

   regulations                                                                 

r88 Reserves for pension              0                          0             0

   and similar payables                                                        

r89 Income tax reserves               0                          0             0

r90 Other reserves                    0                          0             0

>r91 >Long-term payables      >2 950 000    >1 872 000   >3 437 000   >25 906 000

r92 Trade payables                    0                          0    12 221 000

r93 Payables to                       0                          0             0

   controlled and                                                              

   managed organizations                                                       

r94 Payables to                       0                          0             0

   accounting units with                                                       

   substantial influence                                                       

r95 Payables from                     0                          0    10 000 000

   partners, cooperative                                                       

   members and                                                                 

   association members                                                          

r96 Long-term advances                0                          0             0

   received                                                                    

r97 Issues bonds                      0                          0             0

r98 Long-term notes                   0                          0             0

   payables                                                                    

r99 Estimated payables                0                          0             0

r100 Other payables                    0                          0             0

r101 Deferred tax liability     2 950 000     1 872 000    3 437 000     3 685 000

>r102 >Short-term payables    >73 779 000  >133 724 000 >155 862 000  >278 179 000

r103 Trade payables           48 887 000   110 332 000   99 457 000    97 209 000

r104 Payables to               9 600 000                          0             0

   controlled and                                                              

   managed organizations                                                        

r105 Payables to                       0                          0             0

   accounting units with                                                       

   substantial influence                                                        

r106 Payables from                     0                 28 200 000   149 219 000

   partners, cooperative                                                       

   members and                                                                  

   association members                                                         

r107 Payroll                   6 095 000     9 955 000   11 758 000    13 168 000

r108 Payables to social        3 320 000     5 457 000    6 053 000     7 228 000

   securities and health                                                       

   insurance                                                                   

r109 Due from state - tax      2 689 000     1 854 000    4 363 000     6 878 000

   liabilities and                                                             

   subsidies                                                                   

r110 Short-term deposits         294 000     3 482 000    5 353 000     2 640 000

   received                                                                    

r111 Issues bonds                      0                          0             0

r112 Estimated payables        2 849 000     2 527 000      375 000     1 624 000

r113 Other payables               45 000       117 000      303 000       213 000

>r114 >Bank loans and        >180 000 000  >210 354 000 >207 997 000  >133 519 000

   financial                                                                   

   accommodations                                                               

r115 Long-term bank loans    180 000 000                180 000 000    81 538 000

r116 Short-term bank loans             0   210 354 000   27 997 000    51 981 000

r117 Short-term                        0                          0             0

   accommodations                                                              

>r118 >Accruals                >4 303 000    >7 943 000   >5 167 000    >9 932 000

r119 Accrued expenses          4 303 000     7 943 000    5 167 000     9 932 000

r120 Deferred revenues                 0                          0             0

   profit/loss account      31.12.2010    31.12.2011   31.12.2012    31.12.2013

                                 (CZK)         (CZK)        (CZK)         (CZK)

>a1 >Turnover              >475 825 000  >608 239 000 >831 012 000  >801 392 000

a2 Revenues from sold       44 571 000    26 926 000    7 014 000    16 449 000

   goods                                                                        

a3 Expenses on sold goods    7 148 000    14 480 000    3 760 000     8 188 000

>a4 >Sale margin            >37 423 000   >12 446 000   >3 254 000    >8 261 000

>a5 >Production            >457 341 000  >631 667 000 >844 036 000  >837 889 000

a6 Revenues from own       431 254 000   581 313 000  823 998 000   784 943 000

   products and services                                                       

a7 Change in inventory      26 002 000    50 197 000   19 739 000    40 401 000

   of own products                                                             

a8 Capitalization               85 000       157 000      299 000    12 545 000

>a9 >Production            >338 554 000  >510 066 000 >567 132 000  >564 353 000

   consumption                                                                 

a10 Consumption of          210 137 000   331 343 000  408 803 000   414 049 000

   material and energy                                                         

a11 Services                128 417 000   178 723 000  158 329 000   150 304 000

>a12 >Added value           >156 210 000  >134 047 000 >280 158 000  >281 797 000

>a13 >Personnel expenses    >107 978 000  >159 733 000 >213 058 000  >215 169 000

a14 Wages and salaries       81 304 000   119 853 000  160 545 000   161 960 000

a15 Renumeration of board             0                          0             0

   members                                                                     

a16 Social security          26 674 000    39 880 000   52 513 000    53 209 000

   expenses and health                                                         

   insurance                                                                   

a17 Other social expenses             0                          0             0

a18 Taxes and fees            3 647 000       715 000      832 000     1 113 000

a19 Depreciations of         14 329 000    15 193 000   16 910 000    22 569 000

   intangible and                                                               

   tangible assets                                                             

>a20 >Revenues from          >44 525 000   >28 615 000  >16 451 000   >59 286 000

   disposals of fixed                                                           

   assets and materials                                                        

a21 Revenues from            28 782 000    11 032 000    3 508 000    49 082 000

   disposals of fixed                                                          

   assets                                                                      

a22 Revenues from            15 743 000    17 583 000   12 943 000    10 204 000

   disposals of materials                                                      

>a23 >Net book value of      >17 450 000   >13 847 000  >11 440 000   >45 152 000

   disposed fixed assets                                                       

   and materials                                                               

a24 Net book value of        11 981 000     9 411 000    3 503 000    39 513 000

   sold fixed assets                                                           

a25 Net book value of         5 469 000     4 436 000    7 937 000     5 639 000

   sold material                                                                

a26 Change in operating      30 019 000   -26 010 000    4 081 000       527 000

   reserves and                                                                

   adjustments and                                                              

   complex deferred                                                            

   costs ( + / - )                                                             

a27 Other operating          11 896 000    14 915 000    5 445 000     1 637 000

   revenues                                                                    

a28 Other operating           4 691 000     4 660 000    6 233 000     6 781 000

   expenses                                                                     

a29 Transfer of operating             0                          0             0

   revenues                                                                    

a30 Transfer of operating             0                          0             0

   expenses                                                                    

>a31 >Operating profit /     >34 517 000    >9 439 000  >49 500 000   >51 409 000

   loss                                                                        

a32 Revenues from sales               0                          0             0

   of securities and                                                           

   ownership interests                                                         

a33 Sold securities and               0                          0             0

   ownership interests                                                         

>a34 >Revenues from long-             >0            >0           >0            >0

   term financial assets                                                        

a35 Revenues from shares              0                          0             0

   in controlled and                                                           

   managed organizations                                                        

   and in accounting                                                           

   units with                                                                  

   substantial influence                                                        

a36 Revenues from others              0                          0             0

   securities and                                                              

   ownership interests                                                          

a37 Revenues from other               0                          0             0

   long-term financial                                                         

   assets                                                                       

a38 Revenues from short-              0                          0             0

   term financial assets                                                       

a39 Expenses associated               0                          0             0

   with financial assets                                                       

a40 Revenues from                     0                          0             0

   revaluation of                                                              

   securities and                                                               

   derivatives                                                                 

a41 Cost of revaluation               0                          0             0

   of securities and                                                            

   derivatives                                                                    

a42 Change in financial               0                          0             0

   reserves and                                                                 

   adjustments ( + / - )                                                       

a43 Interest revenues             1 000         2 000        2 000         2 000

a44 Interest expenses         3 912 000    10 212 000    9 172 000     5 050 000

a45 Other financial           3 979 000     7 857 000    6 799 000    11 163 000

   revenues                                                                    

a46 Other financial           6 621 000     5 508 000   11 418 000     7 292 000

   expenses                                                                    

a47 Transfer of                       0                          0             0

   financial revenues                                                           

a48 Transfer of                       0                          0             0

   financial expenses                                                          

>a49 >Profit / loss from     >-6 553 000   >-7 861 000 >-13 789 000   >-1 177 000

   financial operations                                                        

   ( transactions )                                                            

>a50 >Income tax on           >5 112 000      >-75 000   >6 374 000    >9 450 000

   ordinary income                                                             

a51 Due tax                   3 308 000     1 002 000    4 810 000     8 290 000

a52 Tax deferred              1 804 000    -1 077 000    1 564 000     1 160 000

>a53 >Operating profit /     >22 852 000    >1 653 000  >29 337 000   >40 782 000

   loss ordinary activity                                                       

a54 Extraordinary revenues             0                          0             0

a55 Extraordinary expenses             0                          0             0

>a56 >Income tax on                   >0            >0           >0            >0

   extraordinary income                                                        

a57 Due tax                           0                          0             0

a58 Tax deferred                      0                          0             0

>a59 >Operating profit /              >0            >0           >0            >0

   loss extraordinary                                                           

   activity                                                                    

a60 Transfer profit (                 0                          0             0

   loss ) to partners (+/                                                       

   -)                                                                          

>a61 >Profit / loss of       >22 852 000    >1 653 000  >29 337 000   >40 782 000

   current accounting                                                           

   period  (+/-)                                                               

>a62 >Profit / loss before   >27 964 000    >1 578 000  >35 711 000   >50 232 000

   tax (+/-)                                                                   

>  >Operating cash flow                 >142 009 000               >141 120 000

>  >Investment cash flow                 >-6 383 000               >-23 199 000

>  >Financial cash flow                >-180 000 000              >-131 241 000

>  >Receivables after      >18 565 000   >27 646 000  >39 360 000   >43 340 000

   due date total                                                              

   Receivables more than       279 000     7 548 000    8 768 000    11 777 000

   180 days after due                                                           

   date                                                                        

>  >Liabilities after       >8 201 000   >29 540 000   >4 133 000    >1 186 000

   due date total                                                               

   Liabilities more than     1 702 000    16 510 000            0             0

   180 days after due                                                          

   date                                                                         

Balance indices             31.12.2010    31.12.2011   31.12.2012    31.12.2013

Return on       a62/r1 *          8,50          0,40         7,34          8,61

total assets    100                                                             

ROA (in %)                                                                     

Return on       a62/r68          73,39          3,97        31,30         36,89

equity ROE (in  * 100                                                          

%)                                                                             

Return on       a62/a1 *          5,88          0,26         4,30          6,27

sales ROS (in   100                                                            

%)                                                                              

Turnover of     r49/a1 *         46,54         54,62        41,99         57,11

receivables     365                                                            

(in days)                                                                       

Turnover of     r103/a1          37,50         66,21        43,68         44,27

liabilities     * 365                                                          

(in days)                                                                       

Turnover of     r32/a1 *         64,54         91,65        77,22        110,06

inventories     365                                                            

(days)                                                                          

Net working     r31 -       138 701,00    -59 990,00   125 663,00     67 180,00

capital (in     r102 -                                                         

ths. CZK)       r116 -                                                          

                r117                                                           

Ratio of        (r39+            94,27         88,31        67,42         46,88

accounts        r48) /                                                          

payable to      (r91+                                                          

accounts        r102) *                                                        

receivable (in  100                                                            

%)                                                                              

Ratio of        r3 / a1          24,41         17,91        20,99         23,07

profit/loss to  * 100                                                          

tangible                                                                        

assets (in%)                                                                   

Current ratio   r31 /             2,88          0,83         1,68          1,20

                (r102+                                                          

                r116+                                                          

                r117)                                                          

Quick ratio     (r58+             1,70          0,38         0,73          0,47

                r48) /                                                         

                (r102+                                                         

                r116+                                                           

                r117)                                                          

Cash ratio      r58 /             0,76          0,03         0,14          0,04

                (r102+                                                          

                r116+                                                          

                r117)                                                          

Debt ratio I    (1-r68/          88,42         89,90        76,55         76,67

(in %)          r67) *                                                         

                100                                                            

Debt ratio II   r85/r67          87,12         87,88        75,49         74,97

(in %)          * 100                                                          

                                                          

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.85

UK Pound

1

Rs.96.73

Euro

1

Rs.76.53                                 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.