MIRA INFORM REPORT

Report Date :

31.05.2014

IDENTIFICATION DETAILS

Name :	ADOLFO DOMINGUEZ SA.

Registered Office :	Calle 4, Parcela 8, Polig. Industrial San San Ciprian De Viñas - San Cibrao Das Viñas - 32901 - Orense

Country :	Spain

Financials (as on) :	2013

Date of Incorporation :	09.03.1989

Legal Form :	Public Company

Line of Business :	Retail sale of clothing in specialised stores

No. of Employees :	1500

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No complaints
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 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Spain

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	D

SPAIN - ECONOMIC OVERVIEW

Spain experienced a prolonged recession in the wake of the global financial crisis. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. Economic growth resumed in late 2013, albeit only modestly, as credit contraction in the private sector, fiscal austerity, and high unemployment continued to weigh on domestic consumption and investment. Exports, however, have been resilient throughout the economic downturn, partially offsetting declines in domestic consumption and helped to bring Spain's current account into surplus in 2013 for the first time since 1986. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, straining Spain's public finances as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2009. Spain gradually reduced the deficit to just under 7% of GDP in 2013, slightly above the 6.5% target negotiated between Spain and the EU. Public debt has increased substantially – from 60.1% of GDP in 2010 to 93.4% in 2013. Rising labor productivity, moderating labor costs, and lower inflation have helped to improve foreign investor interest in the economy and to reduce government borrowing costs. The government's ongoing efforts to implement reforms - labor, pension, health, tax, and education - are aimed at supporting investor sentiment. The government also has shored up struggling banks exposed to Spain's depressed domestic construction and real estate sectors by successfully completing an EU-funded restructuring and recapitalization program in December 2013

Source : CIA

EXECUTIVE SUMMARY

Name:

ADOLFO DOMINGUEZ SA.

NIF / Fiscal code:

A32104226

Status:

ACTIVE

Incorporation Date:

09/03/1989

Register Data

Last Publication in BORME:

07/03/2014 [Revocations]

Last Published Account Deposit:

2012

Share Capital:

5.565.664,80

Localization:

CALLE 4, PARCELA 8, POLIG. INDUSTRIAL SAN SAN CIPRIAN DE VIÑAS - SAN CIBRAO DAS VIÑAS - 32901 - ORENSE

Telephone - Fax - Email - Website:

Ph.:. 988383796 Email. contacto@adolfodominguez.com Website. www.adolfodominguez.com

Number of Branches

Activity:

NACE:

4771 - Retail sale of clothing in specialised stores

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

0 for a total cost of 0

Subsidies:

43 for a total cost of 5244797

Quality Certificate:

Partners

ADOLFO DOMINGUEZ FERNANDEZ

31.51 %

ANTONIO PUIG SA

14.8 %

LIBERTAS 7 SOCIEDAD ANONIMA

0.07 %

LA PREVISION MALLORQUINA DE SEGUROS SA

7.56 %

LUXURY LIBERTY SA

10.22 %

NCG BANCO SA

4.98 %

Identification

Social Denomination:

ADOLFO DOMINGUEZ SA.

NIF / Fiscal code:

A32104226

Corporate Status:

ACTIVE

Start of activity:

1989

Registered Office:

CALLE 4, PARCELA 8, POLIG. INDUSTRIAL SAN SAN CIPRIAN DE VIÑAS

Locality:

SAN CIBRAO DAS VIÑAS

Province:

ORENSE

Postal Code:

32901

Telephone:

988383796

Website:

www.adolfodominguez.com

Email:

contacto@adolfodominguez.com

Branch Offices

Address

Postal Code

City

Province

PASEO GRACIA 32

08007

BARCELONA

CALLE SERRANO 5

28001

MADRID

Activity

NACE:

4771

Additional Information:

It is dedicated to the design, manufacture, marketing of clothing items, footwear and accessories, perfumes, for gentleman, ladies and children. Belonging to the Adolfo Domínguez group, its beginnings date back to the year 1973. It has own shops and franchises.

Additional Address:

CALLE 4, PARCELA 8, POLIG. INDUSTRIAL SAN SAN CIPRIAN DE VIÑAS 32901 SAN CIBRAO DAS VIÑAS ( ORENSE ) , head office, factory, workshop, warehouse, offices, facilities, attributed property.

Import / export:

IMPORTS / EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2014

1500

Chronological Summary

Year

Act

1990

Accounts deposit (ejer. 1989)

1992

Accounts deposit (ejer. 1990, 1991) Adaptation to Law (1) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Company Transformation (1) Increase of Capital (1) Other Concepts/ Events (1)

1994

Accounts deposit (ejer. 1992, 1993)

1996

Accounts deposit (ejer. 1994, 1995) Change of Social Denomination (2) Company Transformation (1) Increase of Capital (1) Other Concepts/ Events (1) Take-over Merger (5)

1997

Accounts deposit (ejer. 1996) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social Purpose (1) Increase of Capital (1) Other Concepts/ Events (1) Statutory Modifications (1)

1998

Accounts deposit (ejer. 1997) Appointments/ Re-elections (1) Board Meeting (1) Cessations/ Resignations/ Reversals (1)

1999

Appointments/ Re-elections (3) Board Meeting (1) Increase of Capital (1) Other Concepts/ Events (1)

2000

Accounts deposit (ejer. 1999 consolidated, 1999) Board Meeting (1) Increase of Capital (1)

2001

Accounts deposit (ejer. 1998 consolidated, 1998) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (1)

2002

Accounts deposit (ejer. 2000 consolidated, 2001 consolidated, 2000, 2001) Appointments/ Re-elections (2) Board Meeting (1) Cessations/ Resignations/ Reversals (1)

2003

Appointments/ Re-elections (1) Board Meeting (1) Other Concepts/ Events (1)

2004

Accounts deposit (ejer. 2002) Board Meeting (1) Other Concepts/ Events (2)

2005

Accounts deposit (ejer. 2003 consolidated, 2004 consolidated, 2003, 2004) Appointments/ Re-elections (5) Other Concepts/ Events (1) Statutory Modifications (1)

2006

Accounts deposit (ejer. 2005 consolidated, 2005) Appointments/ Re-elections (5) Cessations/ Resignations/ Reversals (3) Increase of Capital (1) Other Concepts/ Events (1) Statutory Modifications (1)

2007

Accounts deposit (ejer. 2006) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Other Concepts/ Events (3) Statutory Modifications (1)

2008

Accounts deposit (ejer. 2006 consolidated, 2007 consolidated, 2007) Appointments/ Re-elections (4) Other Concepts/ Events (1)

2009

Accounts deposit (ejer. 2008 consolidated, 2008) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2)

2010

Accounts deposit (ejer. 2009 consolidated, 2009) Appointments/ Re-elections (3) Take-over Merger (3)

2011

Accounts deposit (ejer. 2010 consolidated, 2010) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Other Concepts/ Events (3)

2012

Accounts deposit (ejer. 2011 consolidated, 2011) Appointments/ Re-elections (7) Cessations/ Resignations/ Reversals (3) Other Concepts/ Events (5)

2013

Accounts deposit (ejer. 2012) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Increase of Capital (1)

2014

Cessations/ Resignations/ Reversals (1)

Breakdown of Owners' Equity

Registered Capital:

5.565.664,80

Paid up capital:

5.565.664,80

wordml://1244

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

19/10/1992

Increase of Capital

1.622.733

1.694.854

18/12/1996

Increase of Capital

16.107

1.710.961

04/02/1997

Increase of Capital

3.421.923

5.132.884

05/01/2000

Increase of Capital

102.485

5.226.725

16/11/2006

Increase of Capital

261.336

5.488.061

21/01/2013

Increase of Capital

77.604

5.565.665

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

DOMINGUEZ FERNANDEZ ADOLFO

23/08/2006

PRESIDENT OF THE EXECUTIVE COMM.

GARCIA PLANAS MARCET JOSE MARIA

13/07/2012

VICE CHAIRMAN

CROISSIER BATISTA LUIS CARLOS

23/08/2006

MEMBER OF THE BOARD

DOMINGUEZ FERNANDEZ ADOLFO

02/09/2011

FERNANDEZ NOVO JUAN MANUEL

02/09/2011

GONZALEZ ALVAREZ ELENA

30/08/2010

FERNANDEZ NOVO JUAN

11/03/1997

JOINT ATTORNEY

FERNANDEZ NOVO JUAN

18/03/1999

RODRIGUEZ TREBOLLE FERNANDO

18/03/1999

JOINT ATTORNEY/COMBINED PROXY

CARPIO MARTINEZ ESTANISLAO

22/11/2013

PROXY

NEGRO LOPEZ JULIO

18/07/2013

PAULA PRIETO MARIA DOLORES

04/03/2010

CHIEF EXECUTIVE OFFICER

DOMINGUEZ FERNANDEZ ADOLFO

26/10/2011

SECRETARY

RIOS ESTRELLA MARTA

20/11/2012

EXECUTIVE COMMISSION SECRETARY

RIOS ESTRELLA MARTA

20/11/2012

NON CONSELLOR SECRETARY

RIOS ESTRELLA MARTA

20/11/2012

VICE SECRETARY

ZARZALEJOS TOLEDANO IGNACIO

20/11/2012

RODRIGUEZ TREBOLLE FERNANDO

09/05/2008

NON CONSELLOR ASSISTANT SECRETARY

ZARZALEJOS TOLEDANO IGNACIO

20/11/2012

MEMBER

BERGES LOBERA ANGEL

13/07/2012

LUXURY LIBERTY SA

13/07/2012

MEMBER OF THE EXECUTIVE COMM.

NUENO INIESTA JOSE LUIS

13/07/2012

CROISSIER BATISTA LUIS CARLOS

13/07/2012

GARCIA PLANAS MARCET JOSE MARIA

13/07/2012

ACCOUNTS' AUDITOR / HOLDER

DELOITTE SL

02/10/2013

CONSOLIDATED ACCOUNTS' AUDITOR

DELOITTE SL

02/10/2013

LAWYER (ADVISER)

CARLOS BERTRAN LUIS

19/02/1998

MISCELLANEOUS POSTS

LUXURY LIBERTY SA

13/07/2012

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ARTHUR ANDERSEN Y CIA S COM

ACCOUNTS' AUDITOR / HOLDER

02/07/1999

ACCOUNTS' AUDITOR / HOLDER

08/08/2001

ACCOUNTS' AUDITOR / HOLDER

26/10/2001

ACCOUNTS' AUDITOR / HOLDER

31/12/2002

BERGES LOBERA ANGEL

MEMBER OF THE BOARD

08/08/2001

MEMBER OF THE BOARD

23/08/2006

MEMBER OF THE BOARD

10/12/2007

MISCELLANEOUS POSTS

10/12/2007

MEMBER OF THE BOARD

02/09/2011

MEMBER

13/07/2012

CARLOS BERTRAN LUIS

SECRETARY

20/11/2012

CASAL DOMINGUEZ DORINDA

PROXY

25/02/2014

CASTELLANO RIOS JOSE MARIA

MEMBER

17/02/2009

MISCELLANEOUS POSTS

17/02/2009

CROISSIER BATISTA LUIS CARLOS

MEMBER OF THE BOARD

08/08/2001

MEMBER OF THE EXECUTIVE COMM.

13/07/2012

MISCELLANEOUS POSTS

13/07/2012

MEMBER OF THE BOARD

13/07/2012

VICE CHAIRMAN

23/08/2006

MEMBER OF THE BOARD

23/08/2006

MEMBER OF THE BOARD

18/12/2006

MEMBER

10/12/2007

MEMBER OF THE BOARD

02/09/2011

DE CARLOS BERTRAN LUIS

EXECUTIVE COMMISSION SECRETARY

13/07/2012

EXECUTIVE COMMISSION SECRETARY

20/11/2012

SECRETARY

20/11/2012

DELOITTE & TOUCHE ESPAÑA SL

ACCOUNTS' AUDITOR / HOLDER

26/09/2006

CONSOLIDATED ACCOUNTS' AUDITOR

26/09/2006

ACCOUNTS' AUDITOR / HOLDER

18/02/2005

ACCOUNTS' AUDITOR / HOLDER

18/02/2005

ACCOUNTS' AUDITOR / HOLDER

28/10/2005

DELOITTE S L

CONSOLIDATED ACCOUNTS' AUDITOR

04/01/2008

ACCOUNTS' AUDITOR / HOLDER

04/01/2008

ACCOUNTS' AUDITOR / HOLDER

13/03/2008

CONSOLIDATED ACCOUNTS' AUDITOR

13/03/2008

CONSOLIDATED ACCOUNTS' AUDITOR

06/09/2008

DELOITTE SL

ACCOUNTS' AUDITOR / HOLDER

25/09/2009

CONSOLIDATED ACCOUNTS' AUDITOR

25/09/2009

CONSOLIDATED ACCOUNTS' AUDITOR

30/08/2010

ACCOUNTS' AUDITOR / HOLDER

30/08/2010

CONSOLIDATED ACCOUNTS' AUDITOR

04/01/2008

ACCOUNTS' AUDITOR / HOLDER

04/01/2008

CONSOLIDATED ACCOUNTS' AUDITOR

06/09/2008

ACCOUNTS' AUDITOR / HOLDER

06/09/2008

CONSOLIDATED ACCOUNTS' AUDITOR

02/09/2011

ACCOUNTS' AUDITOR / HOLDER

02/09/2011

ACCOUNTS' AUDITOR / HOLDER

13/03/2008

CONSOLIDATED ACCOUNTS' AUDITOR

01/10/2012

ACCOUNTS' AUDITOR / HOLDER

01/10/2012

ACCOUNTS' AUDITOR / HOLDER

02/10/2013

CONSOLIDATED ACCOUNTS' AUDITOR

02/10/2013

DOMINGUEZ FERNANDEZ ADOLFO

CHIEF EXECUTIVE OFFICER

08/08/2001

PRESIDENT

08/08/2001

PRESIDENT

23/08/2006

MEMBER OF THE BOARD

23/08/2006

MEMBER OF THE BOARD

11/03/1997

MEMBER OF THE BOARD

08/08/2001

CHIEF EXECUTIVE OFFICER

11/03/1997

CHIEF EXECUTIVE OFFICER

10/11/2006

MEMBER OF THE BOARD

02/09/2011

CHIEF EXECUTIVE OFFICER

26/10/2011

DOMINGUEZ FERNANDEZ FRANCISCO JAVIER

MEMBER OF THE BOARD

11/03/1997

CHIEF EXECUTIVE OFFICER

11/03/1997

DOMINGUEZ FERNANDEZ INMACULADA

MEMBER OF THE BOARD

19/05/1992

PRESIDENT

19/05/1992

DOMINGUEZ FERNANDEZ JESUS

PRESIDENT

19/10/1992

PRESIDENT

11/03/1997

MEMBER OF THE BOARD

11/03/1997

CHIEF EXECUTIVE OFFICER

11/03/1997

DOMINGUEZ FERNANDEZ JOSEFINA

MEMBER OF THE BOARD

11/03/1997

CHIEF EXECUTIVE OFFICER

11/03/1997

SECRETARY

11/03/1997

FERNANDEZ NOVO JUAN

PROXY

19/02/1998

PROXY

18/03/1999

FERNANDEZ NOVO JUAN MANUEL

PROXY

22/11/2013

PROXY

22/11/2013

JOINT ATTORNEY

22/11/2013

MEMBER OF THE BOARD

23/08/2006

MEMBER OF THE BOARD

08/08/2001

MEMBER OF THE BOARD

02/09/2011

PROXY

12/03/2012

GARCIA PLANAS MARCET JOSE MARIA

MEMBER OF THE BOARD

08/08/2001

MEMBER OF THE BOARD

02/09/2011

PRESIDENT OF THE EXECUTIVE COMM.

02/09/2011

MEMBER OF THE BOARD

23/08/2006

MEMBER OF THE BOARD

09/05/2008

PRESIDENT OF THE EXECUTIVE COMM.

13/07/2012

MEMBER OF THE EXECUTIVE COMM.

13/07/2012

GONZALEZ ALVAREZ ELENA

MEMBER OF THE BOARD

30/08/2010

LUXURY LIBERTY SA

MEMBER OF THE BOARD

18/12/2006

MEMBER OF THE BOARD

30/08/2010

MEMBER

13/07/2012

NUENO INIESTA JOSE LUIS

MEMBER OF THE EXECUTIVE COMM.

13/07/2012

MEMBER OF THE BOARD

09/05/2008

MEMBER OF THE BOARD

02/09/2011

MEMBER OF THE BOARD

23/08/2006

RAMOS MENDEZ FRANCISCO

SECRETARY

19/02/1998

RIOS ESTRELLA MARTA

VICE SECRETARY

20/11/2012

VICE SECRETARY

13/07/2012

RODRIGUEZ TREBOLLE FERNANDO

PROXY

18/03/1999

VICE SECRETARY

09/05/2008

TAUNTON GAITAN SANTIAGO

PROXY

15/07/2011

TREBOLLE RODRIGUEZ FERNANDO

VICE SECRETARY

03/07/2009

PROXY

20/06/2011

VELAZQUEZ GAZTELU RUIZ CANDIDO

MEMBER OF THE BOARD

13/01/1999

MEMBER OF THE BOARD

08/08/2001

VICE CHAIRMAN

08/08/2001

MEMBER OF THE BOARD

23/08/2006

MEMBER

18/12/2006

Executive board

Post

NIF

Name

FINANCIAL DIRECTOR

JUAN FERNANDEZ NOVO

MANAGING DIRECTOR

ADOLFO DOMINGUEZ FERNANDEZ

Defaults, Legal Claims and Insolvency Proceedings

Section enabling assessment of the degree of compliance of the company queried with its payment obligations. It provides information on the existence and nature of all stages of Insolvency and Legal Proceedings published with reference to the Company in the country's various Official Bulletins and national newspapers, as well Defaults Registered in the main national credit bureaus (ASNEF Industrial and RAI ).

> Summary

Chronological summary

Number of Publications

Amount (_)

Start date

End date

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Request/Declaration

---

date

Proceedings

---

Resolution

---

Defaults on debt with Financial Institutions and Large Companies

Bank and Commercial Delinquency

None

Status: Friendly

---

Status: Pre-Litigation

---

Status: Litigation

---

Status: Non-performing

---

Status: insolvency proceedings, bankruptcy and suspension of payments

---

Other status

---

Legal and Administrative Proceedings

---

09/02/2009

12/03/2014

Notices of defaults and enforcement

---

Seizures

---

Auctions

---

Declarations of insolvency and bad debt

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Positive Factors

Adverse Factors

It has been found to have regular payment performance and has paid all of its debts in a timely manner.

It is one of the major domestic companies in terms of sales volume.

Significant level of financial autonomy. The asset is financed mostly with equity and financing with maturity exceeding one year, providing a solid financial structure.

The cost of debt of [@ BDR_DENOMINACION], depending on the volume of external financing sources posing, is considered medium level in relation to the reference companies.

La evolución de la estructura de endeudamiento durante los dos últimos ejercicios señala una disminución de la deuda con entidades de crédito y acreedores comerciales respecto a la totalidad del pasivo . Cuanto menor sea el nivel de endeudamiento, menor será su dependencia con respecto a los suministradores de capital y más garantía presentará su situación financiera.

Presents legal proceedings. Debts resulting from non-payment to Public Administrations or from lawsuits filed by individuals before the Courts of the different jurisdictions have been published in the Official Gazettes.

It has no return from its main operating activity.This might deteriorate its financial situation. Moreover, this productivity has decreased in comparison with the previous financial year.

It presents an inefficient resources management. Resources and variable costs management associated with the activity itself are not productive, since operating expenses exceed income.

Stock turnover decreaseThe stock turnover rate with respect to debtors has decreased as compared with that of the previous fiscal year, a fact that indicates, in principle, a deteriorated financial situation.

Private consumption continues to have, in spite of some signs of improvement, very low rates , thus showing great weakness.

Probability of default

> Probabilidad Estimada de Impago para los próximos 12 meses: 1.551 %

> Latest Rating Changes :

Sector in which comparison is carried out :

477 Retail sale of other goods in specialised stores

Relative Position:

Credit quality is superior to that of other companies in the same sector.

The company's comparative analysis with the rest of the companies that comprise the sector, shows the company holds a better position with regard to the probability of non-compliance.

The 83.00% of the companies of the sector ADOLFO DOMINGUEZ SA. belongs to show a higher probability of non-compliance.

The probability of the company's non-compliance with its payment obligations within deadlines estimated by our qualifications models is 1.551%.

In the event they fail to comply with the payment, the seriousness of the loss will depend on factors such as the promptness of the commencement of the charging management, the existence of executive documents which match the credit or the existence of guarantees and free debt assets under the name of the debtor. Therefore, the probability of non-compliance should not be solely interpreted as the total loss of the owed amount.

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

No se han publicado

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

No se han publicado

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

No se han publicado

Incidences with the Social Security

1 Incidence for a total cost of 626,00 E

Incidences with the Autonomous Administration

No se han publicado

Incidences with the Local Administration

1 Incidence for a total cost of 0,00 E

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

No se han publicado

Proceedings by the old Civil Procedural Law 1.881

No se han publicado

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Procedimientos ante Juzgados de lo Social

No se han publicado

Incidences Detailed

Incidences with the Social Security

BY THE SOCIAL SECURITY DE SALAMANCA - Date 09/02/2009

Last Published Stage:

ACTA DE INFRACCION

Amount of the incidence:

626,00 E

Requested by:

SEGURIDAD SOCIAL

Published domicile:

SOL. 8; TALAVERA DE LA REINA C.P.:45600 (TOLEDO)

Source:

B.O.P. SALAMANCA Nº26, 2009 PAGINA 11

Incidences with the Local Administration

PROCESSED BY THE LOCAL GOVERNMENT DE LOS BARRIOS (CADIZ) - Date 12/03/2014

Last Published Stage:

EXECUTION NOTIFICATION

Record Number:

806087

Amount of the incidence:

0,00 E

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.P. CADIZ Nº53, 2014 PAGINA 7

Link List

PARTICIPATES IN:

24 Entities

SHAREHOLDERS:

6 Entities

ABSORBS TO:

6 Entities

HAS IN ITS ADMINISTRATION BOARD TO:

1 Entities

IS RELATED WITH:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

ADOLFO DOMINGUEZ FERNANDEZ

31.51

ANTONIO PUIG SA

BARCELONA

14.8

LIBERTAS 7 SOCIEDAD ANONIMA

VALENCIA

0.07

LA PREVISION MALLORQUINA DE SEGUROS SA

BARCELONA

7.56

LUXURY LIBERTY SA

VALENCIA

10.22

NCG BANCO SA

LA CORUÑA

4.98

PARTICIPATES IN

ADOLFO DOMINGUEZ LUXEMBOURG, S.A.

98.2

ADOLFO DOMINGUEZ (PORTUGAL) MODA LDA

ADOLFO DOMINGUEZ JAPAN COMPANY, S.A.

100

ADOLFO DOMINGUEZ BELGIQUE, S.A.

ADOLFO DOMINGUEZ USA INC

100

ADOLFO DOMINGUEZ SARL (FRANCIA)

100

TRESPASS, SOCIEDAD ANONIMA, DE CV (MEXICO)

POLA BEIRA SL

ORENSE

ADOLFO DOMINGUEZ ISRAEL, S.A.

100

ADOLFO DOMINGUEZ PANAMA, S.A.

ADOLFO DOMINGUEZ, SOCIEDAD ANONIMA, (REINO UNIDO)

99.99

ADOLFO DOMINGUEZ EL SALVADOR, SOCIEDAD ANONIMA, DE CV (EL SALVADOR)

ADOLFO DOMINGUEZ ISRAEL, SOCIEDAD ANONIMA, (ISRAEL)

100

ADOLFO DOMINGUEZ ITALIA, SOCIEDAD LIMITADA, (ITALIA)

100

ADOLFO DOMINGUEZ PANAMA, SOCIEDAD ANONIMA, (PANAMA)

ADOLFO DOMINGUEZ PERU SAC (PERU)

ADOLFO DOMINGUEZ SHANGHAI CO, SOCIEDAD ANONIMA, (CHINA)

100

GIG IN THE SKY (COSTA RICA), S.A.

TORMATO, SOCIEDAD ANONIMA, DE CV (MEXICO)

100

ADOLFO DOMINGUEZ ITALIA, S.L.

100

ADOLFO DOMINGUEZ USA INC (EEUU)

99.99

ADOLFO DOMINGUEZ EL SALVADOR, SOCIEDAD ANONIMA, DE CV

ADOLFO DOMINGUEZ PERU SAC

ADOLFO DOMINGUEZ LUXEMBOURG, SOCIEDAD ANONIMA, (LUXEMBURGO)

98.2

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

| |

NCG BANCO SA

LA CORUÑA

ABSORBS TO

ADOLFO DOMINGUEZ E HIJOS SOCIEDAD LIMITADA

ORENSE

ADOLFO DOMINGUEZ SA.

ORENSE

MOLIBA SOCIEDAD LIMITADA

ORENSE

CEDIAD SL.

ORENSE

POLA SOMBRA SL

ORENSE

CRAZY DIAMOND SL

ORENSE

HAS IN ITS ADMINISTRATION BOARD TO

LUXURY LIBERTY SA

VALENCIA

Turnover

Total Sales 2013

127.617.480

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2013

Consolidadas

No publicado en BORME

2013

Normales

No publicado en BORME

2012

Consolidadas

No publicado en BORME

2012

Normales

January 2013

2011

Consolidadas

July 2012

2011

Normales

April 2012

2010

Consolidadas

August 2011

2010

Normales

August 2011

2009

Consolidadas

August 2010

2009

Normales

August 2010

2008

Consolidadas

December 2008

2008

Consolidadas

December 2009

2008

Normales

December 2008

2008

Normales

December 2009

2007

Consolidadas

October 2008

2007

Normales

October 2008

2006

Consolidadas

December 2007

2006

Normales

November 2007

2005

Consolidadas

July 2006

2005

Normales

July 2006

2004

Consolidadas

October 2005

2004

Normales

October 2005

2003

Consolidadas

January 2005

2003

Normales

January 2005

2002

Normales

September 2003

2002

Normales

September 2004

2001

Consolidadas

August 2002

2001

Normales

August 2002

2000

Consolidadas

October 2001

2000

Normales

October 2001

1999

Consolidadas

June 2000

1999

Normales

June 2000

1998

Consolidadas

June 1999

1998

Normales

June 2001

1997

Normales

July 1998

1996

Normales

July 1997

1995

Normales

September 1996

1994

Normales

December 1995

1993

Normales

October 1994

1992

Normales

January 1994

1991

Normales

August 1992

1990

Normales

October 1992

1989

Normales

August 1990

The data in the report regarding the last Company Accounts submitted by the company is taken from the TRADE REGISTER serving the region in which the company's address is located 28/02/2013

> Balance en formato Normal de acuerdo al Nuevo Plan General Contable 2007

Information corresponding to the fiscal year 2013 2012 2011 2010 2009 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2013 2012 2011 2010 2009 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria, axesor created such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2013

2012

2011

2010

2009

A) NON-CURRENT ASSETS: 11000

82.616.891,00

93.618.689,00

106.699.163,00

109.700.475,00

117.777.457,00

I. Intangible fixed assets : 11100

759.120,00

1.999.750,00

2.302.142,00

1.686.020,00

1.284.165,00

1. Development: 11110

0,00

2. Concessions: 11120

24.615,00

25.302,00

25.988,00

26.675,00

27.361,00

3. Patents, licencing, trade marks and similar: 11130

435.301,00

0,00

480.923,00

343.055,00

287.623,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

299.204,00

1.429.432,00

1.775.232,00

749.047,00

384.774,00

6. Investigation: 11160

0,00

7. Other intangible fixed assets: 11170

0,00

545.016,00

19.999,00

567.243,00

584.407,00

II. Tangible fixed assets : 11200

33.789.257,00

54.728.822,00

72.893.545,00

77.614.904,00

83.833.469,00

1. Land and buildings: 11210

11.051.865,00

11.454.574,00

18.506.303,00

18.738.006,00

18.969.709,00

2. Technical installations and other tangible fixed assets: 11220

22.737.392,00

43.274.248,00

54.283.076,00

57.052.302,00

63.518.931,00

3. Tangible asset in progress and advances: 11230

0,00

104.166,00

1.824.596,00

1.344.829,00

III. Real estate investment: 11300

2.432.156,00

2.584.141,00

2.622.770,00

2.661.400,00

3.117.503,00

1. Land: 11310

1.397.241,00

0,00

2. Buildings: 11320

1.034.915,00

2.584.141,00

2.622.770,00

2.661.400,00

3.117.503,00

IV. Long-term investments in Group companies and associates : 11400

22.321.731,00

23.768.027,00

21.522.606,00

22.813.785,00

25.162.798,00

1. Equity instruments: 11410

12.747.611,00

0,00

17.108.104,00

19.788.557,00

18.210.538,00

2. Credits to businesses: 11420

9.574.120,00

0,00

4.414.502,00

3.025.228,00

6.952.260,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

15.479.098,00

0,00

6. Other investments: 11460

0,00

8.288.929,00

0,00

V. Long-term financial investments: 11500

4.958.606,00

2.780.695,00

2.615.373,00

2.747.963,00

3.154.267,00

1. Equity instruments: 11510

0,00

2.396.639,00

0,00

2. Credits to third parties : 11520

502.633,00

0,00

2.615.373,00

2.747.963,00

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

4.455.973,00

384.056,00

0,00

6. Other investments: 11560

0,00

3.154.267,00

VI. Assets for deferred tax : 11600

18.027.641,00

7.757.254,00

4.302.995,00

1.680.995,00

779.821,00

VII. Non-current trade debts : 11700

328.380,00

0,00

439.732,00

495.408,00

445.434,00

B) CURRENT ASSETS: 12000

64.236.114,00

83.628.069,00

65.499.985,00

68.517.302,00

63.656.221,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

34.654.809,00

45.776.085,00

35.385.971,00

37.748.324,00

35.204.334,00

1. Commercial: 12210

34.251.010,00

44.881.477,00

0,00

31.918.957,00

2. Primary material and other supplies: 12220

403.799,00

894.608,00

1.173.790,00

912.282,00

614.241,00

3. Work in progress: 12230

0,00

3.006.408,00

2.671.136,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

0,00

3.006.408,00

2.671.136,00

4. Finished goods: 12240

0,00

34.212.181,00

33.625.573,00

0,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

0,00

33.625.573,00

0,00

5. By-products, residues and recycled materials: 12250

0,00

6. Advances to suppliers: 12260

0,00

204.061,00

0,00

III. Trade debtors and others receivable accounts: 12300

13.223.957,00

29.736.510,00

14.782.933,00

18.446.025,00

18.908.620,00

1. Trade debtors / accounts receivable: 12310

12.827.721,00

14.553.673,00

14.357.788,00

18.020.519,00

18.488.846,00

a) Long-term receivables from sales and services supplied : 12311

0,00

b) Customers for sales and provisions of services : 12312

0,00

14.553.673,00

0,00

18.020.519,00

18.488.846,00

2. Customers, Group companies and associates : 12320

0,00

3. Other accounts receivable: 12330

229.267,00

15.034.752,00

265.715,00

350.784,00

377.699,00

4. Personnel: 12340

0,00

5. Assets for deferred tax: 12350

149.204,00

148.085,00

56.230,00

0,00

6. Other debtors, including tax and social security: 12360

17.765,00

0,00

103.200,00

74.722,00

42.075,00

7. Called up share capital: 12370

0,00

IV. Short-term investments in Group companies and associates: 12400

0,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

0,00

3. Debt securities: 12430

0,00

4. Derivatives : 12440

0,00

5. Other financial assets : 12450

0,00

6. Other investments: 12460

0,00

V. Short-term financial investments : 12500

9.752.892,00

2.731.905,00

5.321.256,00

88.087,00

4.955.691,00

1. Equity instruments: 12510

0,00

88.087,00

0,00

2. Credits to businesses: 12520

142.823,00

0,00

3. Debt securities: 12530

9.578.712,00

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

31.357,00

2.731.905,00

0,00

6. Other investments: 12560

0,00

5.321.256,00

0,00

4.955.691,00

VI. Short-term accruals: 12600

457.871,00

282.425,00

351.279,00

0,00

359.332,00

VII. Cash and other equivalent liquid assets : 12700

6.146.585,00

5.101.144,00

9.658.546,00

11.877.929,00

4.228.244,00

1. Treasury: 12710

3.646.585,00

5.101.144,00

1.358.546,00

3.477.929,00

2.699.512,00

2. Other equivalent liquid assets: 12720

2.500.000,00

0,00

8.300.000,00

8.400.000,00

1.528.732,00

TOTAL ASSETS (A + B) : 10000

146.853.005,00

177.246.758,00

172.199.148,00

178.217.777,00

181.433.678,00

ORIGINAL

Liabilities and Net Worth

2013

2012

2011

2010

2009

A) NET WORTH: 20000

96.409.629,00

119.546.266,00

128.112.533,00

133.399.869,00

134.808.159,00

A-1) Shareholders' equity: 21000

96.092.728,00

119.185.453,00

127.596.300,00

132.690.954,00

134.082.162,00

I. Capital: 21100

5.565.665,00

5.488.061,00

1. Registered capital : 21110

5.565.665,00

5.488.061,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

422.399,00

0,00

III. Reserves: 21300

126.547.346,00

126.581.811,00

127.222.086,00

123.636.063,00

1. Legal y estatutarias: 21310

1.097.612,00

2. Other reserves: 21320

125.449.734,00

125.484.199,00

126.124.474,00

122.538.451,00

IV. (Common stock equity): 21400

-500.003,00

0,00

V. Results from previous periods: 21500

-12.884.419,00

-4.473.572,00

-19.193,00

0,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

-12.884.419,00

-4.473.572,00

-19.193,00

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

-23.058.260,00

-8.410.847,00

-4.454.379,00

-19.193,00

4.958.038,00

VIII. (Interim dividend): 21800

0,00

IX. Other net worth instruments: 21900

0,00

A-2) Adjustments due to changes in value: 22000

0,00

I. Financial assets held for sale: 22100

0,00

II. Hedge operations: 22200

0,00

III. Linked non-current assets and liabilities held for sale : 22300

0,00

IV. Exchange rate difference: 22400

0,00

V. Other: 22500

0,00

A-3) Received subsidies, donations and legacies: 23000

316.901,00

360.813,00

516.233,00

708.915,00

725.997,00

B) NON-CURRENT LIABILITIES: 31000

30.524.867,00

18.560.115,00

19.786.412,00

22.188.717,00

23.848.539,00

I. Long-term provisions: 31100

0,00

1. Long-term employee benefits liability: 31110

0,00

2. Environmental actions: 31120

0,00

3. Restructuring provisions: 31130

0,00

4. Other provisions: 31140

0,00

II Long-term creditors: 31200

29.629.185,00

18.252.591,00

19.447.088,00

21.764.875,00

23.415.437,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

24.905.119,00

15.573.313,00

18.057.654,00

20.502.049,00

22.017.645,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

4.724.066,00

2.679.278,00

1.389.434,00

1.262.826,00

1.397.792,00

III. Long-term debts with Group companies and associates: 31300

662.984,00

0,00

IV. Liabilities for deferred tax: 31400

232.698,00

307.524,00

339.324,00

423.842,00

433.102,00

V. Long-term accruals: 31500

0,00

VI. Non-current trade creditors : 31600

0,00

VII. Special long-term debts : 31700

0,00

C) CURRENT LIABILITIES : 32000

19.918.509,00

39.140.377,00

24.300.203,00

22.629.191,00

22.776.980,00

I. Liabilities linked to non-current assets held for sale: 32100

0,00

II. Short-term provisions: 32200

150.000,00

0,00

III. Short-term creditors : 32300

4.181.436,00

16.186.353,00

7.709.220,00

2.698.218,00

1.780.787,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

2.576.579,00

15.703.018,00

7.386.895,00

2.563.252,00

1.693.102,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

1.604.857,00

483.335,00

322.325,00

134.966,00

87.685,00

IV. Short-term debts with Group companies and associates: 32400

2.034,00

0,00

V. Trade creditors and other accounts payable: 32500

15.585.039,00

22.316.351,00

16.590.983,00

19.930.973,00

20.293.658,00

1. Suppliers: 32510

4.857.889,00

6.569.089,00

5.207.002,00

5.971.639,00

5.744.889,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

0,00

6.569.089,00

5.207.002,00

5.971.639,00

5.744.889,00

2. Suppliers, Group companies and associates: 32520

350.583,00

590.401,00

432.873,00

595.889,00

85.126,00

3. Other creditors: 32530

5.286.534,00

6.210.730,00

4.834.455,00

5.391.061,00

6.130.863,00

4. Personnel (remuneration due): 32540

3.672.634,00

3.398.130,00

3.728.082,00

3.807.856,00

3.862.472,00

5. Liabilities for current tax: 32550

0,00

621.125,00

891.684,00

6. Otras deudas con las Administraciones Públicas. : 32560

1.417.399,00

5.548.001,00

2.388.571,00

3.543.403,00

3.578.624,00

7. Advances from clients: 32570

0,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

637.673,00

0,00

702.535,00

TOTAL NET WORTH AND LIABILITIES (A + B + C) : 30000

146.853.005,00

177.246.758,00

172.199.148,00

178.217.777,00

181.433.678,00

ORIGINAL

Profit and Loss

2013

2012

2011

2010

2009

1. Net turnover: 40100

127.617.480,00

134.376.173,00

143.217.036,00

151.625.308,00

166.092.275,00

a) Sales: 40110

127.599.818,00

134.367.947,00

143.216.200,00

151.623.475,00

166.085.864,00

b) Rendering of services: 40120

17.662,00

8.226,00

836,00

1.833,00

6.411,00

2. Changes in stocks of finished goods and work in progress: 40200

0,00

3. Works carried out by the company for its assets: 40300

0,00

4. Supplies : 40400

-64.286.215,00

-55.209.219,00

-54.071.588,00

-52.423.727,00

-56.665.044,00

a) Stock consumption: 40410

-59.431.441,00

-56.849.261,00

-45.228.156,00

-48.688.980,00

0,00

b) Consumption of raw materials and miscellaneous consumable ones: 40420

-3.546.150,00

-6.181.082,00

-8.674.534,00

-3.734.747,00

0,00

c) Works carried out by other companies: 40430

-1.308.624,00

-2.568.990,00

-168.898,00

0,00

d) Impairment of stock, primary material and other supplies: 40440

0,00

10.390.114,00

0,00

-56.665.044,00

5. Other operating income: 40500

3.366.521,00

2.962.812,00

3.228.665,00

4.173.997,00

3.278.742,00

a) Auxiliary income and other from current management: 40510

3.189.986,00

2.804.522,00

3.132.235,00

4.038.631,00

2.888.259,00

b) Operation subsidies included in the Period's result: 40520

176.535,00

158.290,00

96.430,00

135.366,00

390.483,00

6. Personnel costs: 40600

-42.259.194,00

-46.405.619,00

-47.317.676,00

-46.213.836,00

-44.760.047,00

a) Wages, salaries et al.: 40610

-33.155.659,00

-36.155.176,00

-36.722.588,00

-36.017.728,00

-34.770.148,00

b) Social security costs: 40620

-9.103.535,00

-10.250.443,00

-10.595.088,00

-10.196.108,00

-9.989.899,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-32.249.431,00

-35.328.602,00

-36.510.830,00

-39.972.759,00

-45.655.063,00

a) External services: 40710

-28.979.419,00

-33.580.124,00

-35.437.032,00

-38.193.883,00

-43.576.855,00

b) Taxes: 40720

-694.100,00

-625.438,00

-685.220,00

-529.164,00

-488.004,00

c) Losses, impairments and variation in provisions from trade operations : 40730

-2.390.367,00

-1.104.991,00

-388.578,00

-1.237.606,00

-1.462.368,00

d) Other current management expenditure : 40740

-185.545,00

-18.049,00

0,00

-12.106,00

-127.836,00

8. Amortisation of fixed assets: 40800

-11.720.752,00

-13.234.087,00

-13.098.779,00

-12.777.747,00

-11.534.664,00

9. Allocation of subsidies of non-financial fixed assets and other: 40900

189.319,00

222.029,00

275.260,00

279.403,00

245.802,00

10. Excess provisions : 41000

0,00

11. Impairment and result of transfers of fixed assets: 41100

-10.576.733,00

2.796.335,00

-607.382,00

-2.276.656,00

-536.498,00

a) Impairment and losses : 41110

-9.655.977,00

-1.925.506,00

-6.356,00

-459.983,00

-271.553,00

b) Results for transfers and other : 41120

-920.756,00

4.721.841,00

-601.026,00

-1.816.673,00

-264.945,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

0,00

A.1) OPERATING INCOME (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) : 49100

-29.919.005,00

-9.820.178,00

-4.885.294,00

2.413.983,00

10.465.503,00

14. Financial income : 41400

541.249,00

306.975,00

420.662,00

300.932,00

286.888,00

a) Of shares in equity instruments : 41410

0,00

286.888,00

a 1) In Group companies and associates: 41411

0,00

183.469,00

a 2) In third parties: 41412

0,00

103.419,00

b) From negotiable securities and other financial instruments : 41420

541.249,00

306.975,00

420.662,00

300.932,00

0,00

b 1) From Group companies and associates : 41421

285.597,00

33.600,00

9.859,00

123.552,00

0,00

b 2) From third parties : 41422

255.652,00

273.375,00

410.803,00

177.380,00

0,00

c) Allocation of financial subsidies, donations and legacies : 41430

0,00

15. Financial expenditure: 41500

-1.996.663,00

-1.022.928,00

-855.837,00

-1.102.231,00

-1.255.198,00

a) Amounts owed to Group companies and associates : 41510

-2.034,00

0,00

b) For debts with third parties : 41520

-1.994.629,00

-1.022.928,00

-855.837,00

-1.102.231,00

-1.255.198,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

a) Trading book and other : 41610

0,00

b) Allocation of financial assets held for sale to the result for the period: 41620

0,00

17. Exchange rate differences : 41700

-23.896,00

-769.446,00

-897.137,00

-224.999,00

-311.639,00

18. Impairment and result for transfers of financial instruments: 41800

-1.927.073,00

-524.298,00

-765.137,00

-1.379.937,00

-3.015.051,00

a) Impairment and losses : 41810

-1.927.073,00

-524.298,00

-765.137,00

-1.379.937,00

-3.015.051,00

b) Results for transfers and other : 41820

0,00

19. Other financial income and expenditure: 42100

0,00

a) Incorporation of financial expenditure to assets: 42110

0,00

b) Financial income from arrangement with creditors: 42120

0,00

c) Other income and expenditure: 42130

0,00

A.2) FINANCIAL REVENUE (14+15+16+17+18+19) : 49200

-3.406.383,00

-2.009.697,00

-2.097.449,00

-2.406.235,00

-4.295.000,00

A.3) NET RESULT BEFORE TAXES (A.1+A.2) : 49300

-33.325.388,00

-11.829.875,00

-6.982.743,00

7.748,00

6.170.503,00

20. Income taxes: 41900

10.267.128,00

3.419.028,00

2.528.364,00

-26.941,00

-1.212.465,00

A.4) PROFIT AFTER TAXES (A.3+20) : 49400

-23.058.260,00

-8.410.847,00

-4.454.379,00

-19.193,00

4.958.038,00

21. Result of the year coming from interrupted operations : 42000

0,00

A.5) RESULT OF THE PERIOD (A.4+21) : 49500

-23.058.260,00

-8.410.847,00

-4.454.379,00

-19.193,00

4.958.038,00

> Normal Balance Sheet under the rules of the 1990 General Accounting Plan (repealed since 1st January of 2008)

Information corresponding to the fiscal year 2013 2012 2011 2010 2009 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria, Axesor created such criteria using its own methodology. To view details on the methodology 2013 2012 2011 2010 2009 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2013

2012

2011

2010

2009

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

65.089.253,00

85.861.435,00

102.396.168,00

108.019.480,00

116.997.636,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

759.120,00

1.999.750,00

2.302.142,00

1.686.020,00

1.284.165,00

1. Research and development costs:

0,00

2. Concessions, patents, licences, trademarks et al.:

459.916,00

25.302,00

506.911,00

369.730,00

314.984,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

545.016,00

19.999,00

567.243,00

584.407,00

5. Software:

299.204,00

1.429.432,00

1.775.232,00

749.047,00

384.774,00

6. Assets under capital leases:

0,00

7. Payments on account:

0,00

8. Provisions:

0,00

9. Accumulated depreciation:

0,00

III. Tangible fixed assets:

36.221.413,00

57.312.963,00

75.516.315,00

80.276.304,00

86.950.972,00

1. Land and construction:

13.484.021,00

14.038.715,00

21.129.073,00

21.399.406,00

22.087.212,00

2. Technical installations and machinery:

19.195.011,00

36.532.320,00

45.826.024,00

48.163.817,00

53.622.975,00

3. Other installations, tools and furniture:

2.838.122,00

5.401.569,00

6.775.710,00

7.121.370,00

7.928.546,00

4. Payments on account and tangible fixed assets under construction:

0,00

104.166,00

1.824.596,00

1.344.829,00

5. Other tangible assets:

704.259,00

1.340.359,00

1.681.342,00

1.767.115,00

1.967.410,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

27.280.337,00

26.548.722,00

24.137.979,00

25.561.748,00

28.317.065,00

1. Equity investments in group companies:

12.747.611,00

0,00

17.108.104,00

19.788.557,00

18.210.538,00

2. Receivables from group companies:

9.574.120,00

0,00

4.414.502,00

3.025.228,00

6.952.260,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

0,00

2.396.639,00

0,00

6. Other receivables:

502.633,00

8.288.929,00

2.615.373,00

2.747.963,00

3.154.267,00

7. Long term guarantees and deposits:

4.455.973,00

15.863.154,00

0,00

8. Provisions:

0,00

9. Long-term receivables from public bodies:

0,00

V. Own shares:

500.003,00

0,00

VI. Long-term trade receivables:

328.380,00

0,00

439.732,00

495.408,00

445.434,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

82.263.755,00

91.385.323,00

69.802.980,00

69.841.360,00

64.436.042,00

I. Called-up share capital (not paid):

0,00

II. Stocks:

34.654.809,00

45.776.085,00

35.385.971,00

37.748.324,00

35.204.334,00

1. Goods for resale:

34.251.010,00

44.881.477,00

0,00

31.918.957,00

2. Raw materials and other consumables:

403.799,00

894.608,00

1.173.790,00

912.282,00

614.241,00

3. Goods in process and semifinished ones:

0,00

3.006.408,00

2.671.136,00

4. Finished products:

0,00

34.212.181,00

33.625.573,00

0,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

0,00

204.061,00

0,00

7. Provisions:

0,00

III. Debtors:

31.251.598,00

37.493.764,00

19.085.928,00

20.127.020,00

19.688.441,00

1. Trade debtors / accounts receivable:

12.827.721,00

14.553.673,00

14.357.788,00

18.020.519,00

18.488.846,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

229.267,00

15.034.752,00

265.715,00

350.784,00

377.699,00

5. Staff:

0,00

6. Public bodies:

18.194.610,00

7.905.339,00

4.462.425,00

1.755.717,00

821.896,00

7. Provisions:

0,00

IV. Short-term investments:

12.252.892,00

2.731.905,00

13.621.256,00

8.488.087,00

6.484.423,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

12.078.712,00

0,00

8.300.000,00

8.488.087,00

1.528.732,00

6. Other receivables:

142.823,00

0,00

5.321.256,00

0,00

4.955.691,00

7. Shor term guarantees and deposits:

31.357,00

2.731.905,00

0,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

3.646.585,00

5.101.144,00

1.358.546,00

3.477.929,00

2.699.512,00

VII. Prepayments and accrued income:

457.871,00

282.425,00

351.279,00

0,00

359.332,00

GENERAL TOTAL (A + B + C + D):

147.353.008,00

177.246.758,00

172.199.148,00

177.860.840,00

181.433.678,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2013

2012

2011

2010

2009

A) EQUITY:

96.687.801,00

119.293.697,00

127.751.170,00

132.903.629,00

134.299.961,00

I. Subscribed capital:

5.565.665,00

5.488.061,00

II. Share premium:

422.399,00

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

126.642.416,00

126.690.055,00

126.736.681,00

127.434.761,00

123.853.862,00

1. Legal reserve:

1.097.612,00

2. Reserves for own shares:

0,00

3. Reserves for shares of the controlling company:

0,00

4. Statutory reserves:

0,00

5. Miscellaneous reserves:

125.544.804,00

125.592.443,00

125.639.069,00

126.337.149,00

122.756.250,00

Differences due to capital adjustement to euros:

0,00

V. Profit or loss brought forward:

-12.884.419,00

-4.473.572,00

-19.193,00

0,00

1. Retained earnings:

0,00

2. Prior year losses:

-12.884.419,00

-4.473.572,00

-19.193,00

0,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

-23.058.260,00

-8.410.847,00

-4.454.379,00

-19.193,00

4.958.038,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

221.831,00

252.569,00

361.363,00

496.241,00

508.198,00

1. Capital grants:

221.831,00

252.569,00

361.363,00

496.241,00

508.198,00

2. Unrealised exchange gains:

0,00

3. Other deferred income:

0,00

4. Public revenues to distribute in several financial years:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

0,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

30.524.867,00

18.560.115,00

19.786.412,00

22.188.717,00

23.848.539,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

II. Amounts owed to credit institutions:

24.905.119,00

15.573.313,00

18.057.654,00

20.502.049,00

22.017.645,00

1. Loans and other liabilities:

24.905.119,00

15.573.313,00

18.057.654,00

20.502.049,00

22.017.645,00

2. Long-term liabilities from capital leases:

0,00

III. Debts with companies of the group and affiliated ones:

662.984,00

0,00

1. Amounts owed to group companies:

662.984,00

0,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

4.956.764,00

2.986.802,00

1.728.758,00

1.686.668,00

1.830.894,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

4.724.066,00

2.679.278,00

1.389.434,00

1.262.826,00

1.397.792,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

232.698,00

307.524,00

339.324,00

423.842,00

433.102,00

V. Unpaid portion of equity investment:

0,00

1. Group companies:

0,00

2. Associated companies:

0,00

3. Third parties:

0,00

VI. Long term trade creditors:

0,00

E) SHORT TERM CREDITORS:

19.768.509,00

39.140.377,00

24.300.203,00

22.629.191,00

22.776.980,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

4. Accrued interest on debentures and other debt securities:

0,00

II. Amounts owed to credit institutions:

2.576.579,00

15.703.018,00

7.386.895,00

2.563.252,00

1.693.102,00

1. Loans and other liabilities:

2.576.579,00

15.703.018,00

7.386.895,00

2.563.252,00

1.693.102,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

0,00

III. Short-term amounts owed to group and associated companies:

352.617,00

590.401,00

432.873,00

595.889,00

85.126,00

1. Amounts owed to group companies:

352.617,00

590.401,00

432.873,00

595.889,00

85.126,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

10.144.423,00

12.779.819,00

10.041.457,00

11.362.700,00

11.875.752,00

1. Advanced payments from customers:

0,00

2. Amounts owed for purchases of goods or services:

10.144.423,00

12.779.819,00

10.041.457,00

11.362.700,00

11.875.752,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

6.694.890,00

10.067.139,00

6.438.978,00

8.107.350,00

9.123.000,00

1. Public bodies:

1.417.399,00

5.548.001,00

2.388.571,00

4.164.528,00

4.470.308,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

1.604.857,00

1.121.008,00

322.325,00

134.966,00

790.220,00

4. Wages and salaries payable:

3.672.634,00

3.398.130,00

3.728.082,00

3.807.856,00

3.862.472,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

150.000,00

0,00

GENERAL TOTAL (A + B + C + D + E + F):

147.353.008,00

177.246.758,00

172.199.148,00

178.217.777,00

181.433.678,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2013

2012

2011

2010

2009

A) CHARGES (A.1 to A.15):

154.772.829,00

151.000.677,00

151.596.002,00

156.398.833,00

164.945.669,00

A.1. Stock reduction of both manufactured goods and the ones in process:

0,00

A.2. Supplies:

64.286.215,00

65.599.333,00

54.071.588,00

52.423.727,00

0,00

a) Stock consumption:

59.431.441,00

56.849.261,00

45.228.156,00

48.688.980,00

0,00

b) Consumption of raw materials and miscellaneous consumable ones:

3.546.150,00

6.181.082,00

8.674.534,00

3.734.747,00

0,00

c) Miscellaneous external expenditure:

1.308.624,00

2.568.990,00

168.898,00

0,00

A.3. Staff costs:

42.259.194,00

46.405.619,00

47.317.676,00

46.213.836,00

44.760.047,00

a) Wages, salaries et al.:

33.155.659,00

36.155.176,00

36.722.588,00

36.017.728,00

34.770.148,00

b) Social security costs:

9.103.535,00

10.250.443,00

10.595.088,00

10.196.108,00

9.989.899,00

A.4. Depreciation expense:

11.720.752,00

13.234.087,00

13.098.779,00

12.777.747,00

11.534.664,00

A.5. Variation of trade provisions and losses of unrecovered receivables:

2.390.367,00

-9.285.123,00

388.578,00

1.237.606,00

58.127.412,00

a) Stock provision variation:

0,00

-10.390.114,00

0,00

56.665.044,00

b) Variation in provision and bad debt losses:

2.390.367,00

1.104.991,00

388.578,00

1.237.606,00

1.462.368,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

29.859.064,00

34.223.611,00

36.122.252,00

38.735.153,00

44.192.695,00

a) External services:

28.979.419,00

33.580.124,00

35.437.032,00

38.193.883,00

43.576.855,00

b) Taxes:

694.100,00

625.438,00

685.220,00

529.164,00

488.004,00

c) Other operating expenses:

185.545,00

18.049,00

0,00

12.106,00

127.836,00

d) Allocation to revision fund:

0,00

A.I. OPERATING BENEFITS (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6):

0,00

4.411.236,00

10.756.199,00

A.7. Financial and similar charges:

1.996.663,00

1.022.928,00

855.837,00

1.102.231,00

1.255.198,00

a) Due to liabilities with companies of the group:

2.034,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

1.994.629,00

1.022.928,00

855.837,00

1.102.231,00

1.255.198,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

281.423,00

357.761,00

526.437,00

1.265.921,00

3.015.051,00

A.9. Exchange losses:

23.896,00

769.446,00

897.137,00

224.999,00

311.639,00

A.II. NET FINANCIAL INCOME (B.5+B.6+B.7+B.8-A.7-A.8-A.9):

0,00

A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II):

0,00

2.119.017,00

6.461.199,00

A.10. Changes in provisions for intangible, tangible and securities portfolio:

11.301.627,00

2.092.043,00

245.056,00

573.999,00

271.553,00

A.11. Losses from tangible and intangible fixed assets and securities portfolio:

920.756,00

0,00

601.026,00

1.816.673,00

264.945,00

A.12. Losses from transactions with own shares and debentures:

0,00

A.13. Extraordinary expenses:

0,00

A.14. Expenses and losses of former financial years:

0,00

A.IV. EXTRAORDINARY PROFIT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14):

0,00

2.851.827,00

0,00

A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV):

0,00

7.748,00

6.170.503,00

A.15. Corporation tax:

-10.267.128,00

-3.419.028,00

-2.528.364,00

26.941,00

1.212.465,00

A.16. Miscellaneous taxes:

0,00

A.VI. FINANCIAL YEAR RESULTS (PROFIT) (A.V-A.15-A.16):

0,00

4.958.038,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2013

2012

2011

2010

2009

B) INCOME ( B.1 to B.13):

131.714.569,00

142.589.830,00

147.141.623,00

156.379.640,00

169.903.707,00

B.1. Net total sales:

127.617.480,00

134.376.173,00

143.217.036,00

151.625.308,00

166.092.275,00

a) Sales:

127.599.818,00

134.367.947,00

143.216.200,00

151.623.475,00

166.085.864,00

b) Rendering of services:

17.662,00

8.226,00

836,00

1.833,00

6.411,00

Returns and Rappel on sales:

0,00

B.2. Stock increase of manufactured goods and products in process:

0,00

B.3. Works performed by the company for fixed assets:

0,00

B.4. Miscellaneous operating income:

3.366.521,00

2.962.812,00

3.228.665,00

4.173.997,00

3.278.742,00

a) Auxiliary income and other from current management:

3.189.986,00

2.804.522,00

3.132.235,00

4.038.631,00

2.888.259,00

b) Grants:

176.535,00

158.290,00

96.430,00

135.366,00

390.483,00

c) Liabilities and charges provisions surplus:

0,00

B.I. PÉRDIDAS DE EXPLOTACIÓN (A.1+A.2+A.3+A.4+A.5-A.6-B.1-B.2-B.3-B.4):

19.531.591,00

12.838.542,00

4.553.172,00

0,00

B.5. Income from equity investment:

0,00

286.888,00

a) In companies of the group:

0,00

183.469,00

b) In associated companies:

0,00

c) Third parties:

0,00

103.419,00

B.6. Income from other marketable securities and long-term receivables:

0,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

B.7. Miscellaneous interests or similar income:

541.249,00

306.975,00

420.662,00

300.932,00

0,00

a) From companies of the group:

285.597,00

33.600,00

9.859,00

123.552,00

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

255.652,00

273.375,00

410.803,00

177.380,00

0,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

0,00

B.II. NEGATIVE FINANCIAL RESULTS (A.7+A.8+A.9-B.5-B.6-B.7-B.8):

1.760.733,00

1.843.160,00

1.858.749,00

2.292.219,00

4.295.000,00

B.III. LOSSES ON ORDINARY ACTIVITIES ( B.I + B.II - A.I - A.II ):

21.292.324,00

14.681.702,00

6.411.921,00

0,00

B.9.Profit on disposal of both tangible and intangible fixed assets and securities portfolio:

0,00

4.721.841,00

0,00

B.10. Profit on transactions with own shares and debentures:

0,00

B.11. Capital grants transferred to profit and loss:

189.319,00

222.029,00

275.260,00

279.403,00

245.802,00

B.12. Extraordinary income:

0,00

B.13. Income and profit of former financial years:

0,00

B.IV. NEGATIVE EXTRAORDINARY RESULTS (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13):

12.033.064,00

0,00

570.822,00

2.111.269,00

290.696,00

B.V. LOSSES BEFORE TAXES (B.III+B.IV-A.III-A.IV):

33.325.388,00

11.829.875,00

6.982.743,00

0,00

B.VI. RESULT OF THE PERIOD (LOSSES) (B.V+A.15+A.16):

23.058.260,00

8.410.847,00

4.454.379,00

19.193,00

0,00

MERCANTILE REGISTRY.

CASHFLOW STATEMENT

Model: Normal

> Source of information: Data contained in this section is taken from the information declared in the Annual Accounts submitted to the Trade Register.

2013

2012

2011

2010

2009

1. Fiscal year result before taxes.: 61100

-33.325.388,00

-11.829.875,00

-6.982.743,00

7.748,00

6.170.503,00

2. Results adjustments.: 61200

28.083.190,00

13.386.087,00

15.972.604,00

18.373.872,00

15.796.100,00

a) Fixed Assets Amortization (+).: 61201

11.720.752,00

13.234.087,00

13.098.779,00

12.777.747,00

11.534.664,00

b) Obsolescence Allowances (+/-). : 61202

9.655.977,00

1.925.506,00

6.356,00

459.983,00

271.553,00

c) Variation in Provision (+/-). : 61203

2.390.367,00

1.104.991,00

388.578,00

1.237.646,00

0,00

d) Allocation of grants (-).: 61204

-189.319,00

-222.029,00

-275.260,00

-279.403,00

-245.802,00

e) Results on disposal of fixed assets (+/-). : 61205

920.756,00

-4.721.841,00

601.026,00

1.816.673,00

264.945,00

f) Results on disposal of financial instruments (+/-).: 61206

1.927.073,00

524.298,00

765.137,00

1.379.937,00

3.015.051,00

g) Financial income (-).: 61207

-541.249,00

-306.975,00

-420.662,00

-300.932,00

-286.888,00

h) Financial Expenses (+). : 61208

1.996.663,00

1.022.928,00

855.837,00

1.102.231,00

1.255.198,00

i) Exchange differences (+/-). : 61209

23.896,00

769.446,00

897.137,00

224.999,00

-52.648,00

k) Other income and expense (-/+). : 61211

178.274,00

55.676,00

-45.009,00

40.027,00

3. Changes in current capital equity.: 61300

-1.774.435,00

-5.635.373,00

-2.492.746,00

363.310,00

2.811.969,00

a) Stock (+/-).: 61301

11.121.276,00

-10.390.114,00

2.506.577,00

-2.543.990,00

8.276.875,00

d) Debtors and other accounts receivable (+/-). : 61302

1.150.427,00

-3.004.434,00

3.315.397,00

-775.049,00

4.042.049,00

c) Other current assets (+/-). : 61303

-7.196.433,00

2.658.204,00

-5.227.510,00

4.869.999,00

-4.915.565,00

d) Creditors and other accounts payable (+/-). : 61304

-3.537.814,00

750.169,00

-1.310.372,00

512.514,00

-4.940.666,00

e) Other current liabilities (+/-).: 61305

-3.308.138,00

4.296.498,00

-1.791.187,00

-1.532.199,00

349.276,00

f) Other non-current assets and liabilities (+/-).: 61306

-3.753,00

54.304,00

14.349,00

-167.965,00

0,00

4. Other cash flows for operating activities.: 61400

-1.403.745,00

-697.880,00

-1.050.729,00

-1.875.706,00

-4.506.259,00

a) Interest payments (-). : 61401

-1.944.994,00

-1.004.433,00

-847.339,00

-1.150.607,00

-1.241.051,00

c) Interest collection (+). : 61403

541.249,00

306.975,00

420.662,00

475.489,00

103.418,00

d) Income tax payment collection (payments) (+/-).: 61404

0,00

-422,00

-624.052,00

-1.200.588,00

-3.368.626,00

5. Operating activity cash flows (1 + 2 + 3 + 4) : 61500

-8.420.378,00

-4.777.041,00

5.446.386,00

16.869.224,00

20.272.313,00

6. Payments for investment (-).: 62100

-16.709.096,00

-19.963.537,00

-18.812.443,00

-17.464.172,00

-34.125.741,00

a) Companies of the group and affiliates. : 62101

-13.465.848,00

-15.000.395,00

-10.349.854,00

-8.569.998,00

-11.512.425,00

c) Fixed assets. : 62103

-600.569,00

-4.933.108,00

-8.303.678,00

-8.790.789,00

-22.523.448,00

e) Other financial assets. : 62105

-2.642.679,00

-30.034,00

-158.911,00

-103.385,00

-89.868,00

7. Divestment payment collection (+). : 62200

26.644.697,00

12.372.107,00

9.115.047,00

10.046.423,00

9.856.165,00

a) Companies of the group and affiliates. : 62201

13.043.923,00

12.199.512,00

8.344.851,00

9.449.569,00

8.995.449,00

c) Fixed assets. : 62203

13.600.774,00

1.100,00

0,00

9.199,00

493.044,00

e) Other financial assets. : 62205

0,00

587.655,00

367.672,00

g) Business Unit : 62207

0,00

444.112,00

0,00

h) Other assets. : 62208

0,00

171.495,00

326.084,00

0,00

8. Investment activity cash flows (6 + 7) minus Amortization: 62300

9.935.601,00

-7.591.430,00

-9.697.396,00

-7.417.749,00

-24.269.576,00

9. Payment collection and payments for equity instruments. : 63100

592.126,00

0,00

255.000,00

836.240,00

a) Issuance of equity instruments (+). : 63101

465.538,00

0,00

e) Grants, donations and bequests received (+). : 63105

126.588,00

0,00

255.000,00

836.240,00

10. Payment collection and payments for financial liabilities instruments.: 63200

-1.061.908,00

7.811.069,00

2.671.902,00

-684.755,00

10.711.262,00

a) Issuance : 63201

2.911.408,00

10.413.427,00

5.172.305,00

0,00

21.000.000,00

2. Debts incurred with credit institutions (+). : 63203

0,00

8.247.801,00

4.770.653,00

0,00

21.000.000,00

3. Debts incurred with companies of the group and affiliates (+).: 63204

662.984,00

0,00

5. Other debts (+). : 63206

2.248.424,00

2.165.626,00

401.652,00

0,00

b) Repayment and amortization of : 63207

-3.973.316,00

-2.602.358,00

-2.500.403,00

-684.755,00

-10.288.738,00

2. Debts incurred with credit institutions (-).: 63209

-3.773.884,00

-2.434.514,00

-2.412.718,00

-597.070,00

-10.288.738,00

5. Other debts (-). : 63212

-199.432,00

-167.844,00

-87.685,00

0,00

11. Payments from dividends and remunerations from other assets instruments. : 63300

0,00

-640.275,00

-1.372.015,00

-5.488.057,00

b) Remuneration from other assets instruments (-).: 63302

0,00

-5.488.057,00

12. Cash flows for financing activities (9+10+11).: 63400

-469.782,00

7.811.069,00

2.031.627,00

-1.801.770,00

6.059.445,00

D) EFECTO DE LAS VARIACIONES DE LOS TIPOS DE CAMBIO: 64000

0,00

E) NET INCREASE/DECREASE OF CASH OR EQUIVALENT ASSETS (+/-5+/-8+/12+/-D) : 65000

1.045.441,00

-4.557.402,00

-2.219.383,00

7.649.705,00

2.062.182,00

Cash or equivalent assets as of beginning of the fiscal year.: 65100

5.101.144,00

9.658.546,00

11.877.929,00

4.228.224,00

2.166.042,00

Cash or equivalent assets as of end of the fiscal year.: 65200

6.146.585,00

5.101.144,00

9.658.546,00

11.877.929,00

4.228.224,00

FINANCIAL DIAGNOSIS

> Economic-Financial Comparative Analysis

Data used in the following ratios and indicators is taken from the Annual Accounts submitted by the company to the TRADE REGISTER.

Comparison within the Sector

Cash Flow

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,01 %

-0,04 %

-0,03 %

0,01 %

124,15 %

-592,78 %

EBITDA over Sales:

-6,12 %

11,47 %

0,29 %

9,21 %

-2.179,28 %

24,58 %

Cash Flow Yield:

0,01 %

-0,03 %

0,00 %

127,69 %

Profitability

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

-27,33 %

7,37 %

-6,64 %

5,22 %

-311,73 %

41,17 %

Total economic profitability:

-21,33 %

3,44 %

-6,10 %

2,53 %

-249,89 %

36,08 %

Financial profitability:

-24,00 %

3,43 %

-7,06 %

1,44 %

-240,03 %

138,07 %

Margin:

-22,84 %

5,58 %

-7,15 %

4,82 %

-219,45 %

15,68 %

Mark-up:

-25,44 %

3,22 %

-8,61 %

1,68 %

-195,37 %

91,47 %

Solvency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,31

0,15

0,13

0,12

138,57

27,82

Acid Test:

1,47

0,73

0,96

0,87

53,48

-15,75

Working Capital / Investment:

0,30

-0,03

0,25

0,03

20,24

-188,01

Solvency:

4,16

1,05

2,33

1,19

78,23

-11,52

Indebtedness

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,52

1,38

0,48

1,64

8,08

-15,95

Borrowing Composition:

1,54

1,07

0,47

1,02

225,63

4,76

Repayment Ability:

48,11

-22,84

-12,66

144,21

479,97

-115,84

Warranty:

2,92

1,74

3,07

1,62

-4,95

7,25

Generated resources / Total creditors:

-0,19

0,11

-0,09

0,07

-114,11

61,41

Efficiency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

0,82

2,01

1,01

1,72

-19,17

16,88

Turnover of Collection Rights :

9,91

6,74

4,62

4,79

114,46

40,54

Turnover of Payment Entitlements:

6,19

3,95

4,06

3,53

52,68

11,86

Stock rotation:

4,34

11,92

3,28

6,64

32,39

79,46

Assets turnover:

1,20

1,32

0,93

1,08

28,89

22,04

Borrowing Cost:

3,97

3,12

1,77

2,94

123,94

6,04

> Trend of indicators under the General Accounting Plan of 2007 (2013, 2012, 2011, 2010, 2009)

Cash Flow

2013

2012

2011

2010

2009

Cash Flow over Sales:

0,01 %

-0,03 %

-0,02 %

0,05 %

1,24 %

EBITDA over Sales:

-6,12 %

0,29 %

5,97 %

11,34 %

13,42 %

Cash Flow Yield:

0,01 %

-0,03 %

-0,01 %

0,04 %

1,14 %

Profitability

2013

2012

2011

2010

2009

Operating economic profitability:

-27,33 %

-6,64 %

-3,43 %

1,59 %

7,08 %

Total economic profitability:

-21,33 %

-6,10 %

-3,56 %

0,62 %

4,09 %

Financial profitability:

-24,00 %

-7,06 %

-3,49 %

-0,01 %

3,70 %

Margin:

-22,84 %

-7,15 %

-3,34 %

1,55 %

6,18 %

Mark-up:

-25,44 %

-8,61 %

-4,77 %

0,00 %

-2,54 %

Solvency

2013

2012

2011

2010

2009

Liquidity:

0,31

0,13

0,40

0,52

0,19

Acid Test:

1,47

0,96

1,22

1,34

1,23

Working Capital / Investment:

0,30

0,25

0,24

0,26

0,23

Solvency:

4,16

2,33

2,87

3,10

2,83

Indebtedness

2013

2012

2011

2010

2009

Indebtedness level:

0,52

0,48

0,34

0,35

Borrowing Composition:

1,54

0,47

0,81

0,98

1,05

Repayment Ability:

48,11

-12,66

-19,86

5,86

-6,37

Warranty:

2,92

3,07

3,91

3,98

3,89

Generated resources / Total creditors:

-0,19

-0,09

0,21

0,32

1,63

Efficiency

2013

2012

2011

2010

2009

Productivity:

0,82

1,01

1,18

1,37

1,50

Turnover of Collection Rights :

9,91

4,62

9,91

8,45

8,96

Turnover of Payment Entitlements:

6,19

4,06

5,46

4,64

5,04

Stock rotation:

4,34

3,28

4,27

4,01

4,51

Assets turnover:

1,20

0,93

1,03

1,02

1,15

Borrowing Cost:

3,97

1,77

1,94

2,46

2,69

COMPARATIVE SECTORIAL BALANCE

Sector-based Comparison under the rules of the New General Accounting Plan.

Variación -

Empresa

Sector

Variación -

Empresa

Sector

Variación -

Empresa

Sector

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Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Detail of Subsidies appearing in Balances Memories

Entity

INSTITUTO GALEGO DE PROMOCIÓN ECONÓMICA (IGAPE, XUNTA DE GALICIA)

Status

CONCEDIDA

Amount Granted

599.793,00

Notes

El importe reflejado corresponde al importe concedido

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

285.577,00

Notes

El importe reflejado corresponde al importe concedido.

Entity

CONSELLERIA DE INNOVACIÓN E INDUSTRIA, XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

255.000,00

Notes

El importe reflejado corresponde al importe concedido

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

166.831,00

Notes

El importe reflejado corresponde al importe concedido.

Entity

INSTITUTO GALEGO DE PROMOCIÓN ECONÓMICA (IGAPE, XUNTA DE GALICIA)

Status

CONCEDIDA

Amount Granted

147.436,00

Notes

El importe reflejado corresponde al importe concedido

Entity

INSTITUTO GALEGO DE PROMOCIÓN ECONÓMICA (IGAPE, XUNTA DE GALICIA)

Status

CONCEDIDA

Amount Granted

106.305,00

Notes

El importe reflejado corresponde al importe concedido

Entity

CONSELLERIA DE INNOVACIÓN E INDUSTRIA, XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

89.011,00

Notes

El importe reflejado corresponde al importe concedido

Entity

INSTITUTO GALEGO DE PROMOCIÓN ECONÓMICA (IGAPE, XUNTA DE GALICIA)

Status

CONCEDIDA

Amount Granted

84.944,00

Notes

El importe reflejado corresponde al importe concedido

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

83.754,00

Notes

El importe reflejado corresponde al importe concedido.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

90.552,00

Notes

Imputado a resultados.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

subvención de capital

Status

CONCEDIDA

Amount Granted

42.945,00

Notes

Imputado a resultados.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

32.681,00

Notes

Imputado a resultados.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

32.378,00

Notes

Imputado a resultados.

Entity

CONSELLERIA DE INNOVACION E INDUSTRIA, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

28.449,00

Notes

Imputado a resultados.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

20.020,00

Notes

Imputado a resultados.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

10.133,00

Notes

Imputado a resultados.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

9.749,00

Notes

Imputado a resultados.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

8.353,00

Notes

Imputado a resultados.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

599.793,00

Notes

Se ha traspasado a resultados del ejercicio 110551 euros, quedando a fecha de cierre pendiente de imputar 396412 euros. El importe reflejado es el importe concedido

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

285.577,00

Notes

Se ha traspasado a resultados del ejercicio 34816 euros, quedando a fecha de cierre pendiente de imputar 124624 euros. El importe reflejado es el importe concedido

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

166.831,00

Notes

Se ha traspasado a resultados del ejercicio 20.020 euros, quedando a fecha de cierre pendiente de imputar 72689 euros. El importe reflejado es el importe concedido

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

147.436,00

Notes

Se ha traspasado a resultados del ejercicio 48795 euros, quedando a fecha de cierre pendiente de imputar 55686 euros. El importe reflejado es el importe concedido

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

106.305,00

Notes

Se ha traspasado a resultados del ejercicio 9.734 euros, quedando a fecha de cierre pendiente de imputar 14192 euros. El importe reflejado es el importe concedido

Entity

CONSELLERIA DE INNOVACION E INDUSTRIA, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

89.011,00

Notes

Se ha traspasado a resultados del ejercicio 7156 euros, quedando a fecha de cierre pendiente de imputar 247844 euros. El importe reflejado es el importe concedido

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA E COMERCIO, XUNTA DE GALICIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

83.754,00

Notes

Se ha traspasado a resultados del ejercicio 9749 euros, quedando a fecha de cierre pendiente de imputar 28701 euros. El importe reflejado es el importe concedido

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

106.305,00

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

84.944,00

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación

Status

CONCEDIDA

Amount Granted

64.082,00

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

36.318,00

Notes

queda un saldo a fecha de cierre del ejercicio de 237.959 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

20.020,00

Notes

quedan un saldo a fecha de cierre del ejercicio de 136.083 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

18.797,00

Notes

queda un saldo a fecha de cierre del ejercicio de 13.965 euros.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

13.340,00

Notes

queda un saldo a fecha de cierre del ejercicio de 46.793 euros.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

12.807,00

Notes

queda un saldo a fecha de cierre del ejercicio de 732 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

10.377,00

Notes

queda un saldo a fecha de cierre del ejercicio de 60.567 euros.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

8.259,00

Notes

queda un saldo a fecha de cierre del ejercicio de 3.022 euros.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

331.967,00

Notes

El saldo traspasado a resultados es de 36.428 euros, quedando así un saldo a fecha de cierre del ejercicio de 13.539 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

285.577,00

Notes

El saldo traspasado a resultados es de 11.300 euros, quedando así un saldo a fecha de cierre del ejercicio de 274.277 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

166.831,00

Notes

El saldo traspasado a resultados es de 10.726 euros, quedando así un saldo a fecha de cierre del ejercicio de 156.105 euros.

Entity

INSTITUTO GALEGO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

123.652,00

Notes

El saldo traspasado a resultados es de 11.929 euros, quedando así un saldo a fecha de cierre del ejercicio de 11.281 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

106.305,00

Notes

El saldo traspasado a resultados es de 46.172 euros, quedando así un saldo a fecha de cierre del ejercicio de 60.133 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

83.754,00

Notes

El saldo traspasado a resultados es de 10.375 euros, quedando así un saldo a fecha de cierre del ejercicio de 70.944 euros.

Entity

CONSELLERIA DE INNOVACION, INDUSTRIA Y COMERCIO DE LA XUNTA DE GALICIA

Status

CONCEDIDA

Amount Granted

75.192,00

Notes

El saldo traspasado a resultados es de 18.801 euros, quedando así un saldo a fecha de cierre del ejercicio de 32.762 euros.

Entity

INSTITUTO DE PROMOCION ECONOMICA

Status

CONCEDIDA

Amount Granted

123.652,00

Notes

SUBVENCION DE CAPITAL

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.03
UK Pound	1	Rs.98.91
Euro	1	Rs.80.33

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	PDT

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%)

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