MIRA INFORM REPORT

Report Date :

04.09.2014

IDENTIFICATION DETAILS

Name :	DESARROLLO TECNICAS INDUSTRIALES DE GALICIA SA

Registered Office :	Ctra. De Castro-Meiras, Tuimil-Sequeiro - Valdoviño - 15552 - La Coruña

Country :	Spain

Financials (as on) :	2013

Date of Incorporation :	21.05.1985

Legal Form :	Private Company

Line of Business :	· Manufacture of other special-purpose machinery n.e.c. · Manufacture and distribution of hydraulic, industrial and marine equipment.

No. of Employees	60

RATING & COMMENTS

MIRA’s Rating :	Ba
	With Financials

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Spain

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

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:

DESARROLLO TECNICAS INDUSTRIALES DE GALICIA SA

NIF / Fiscal code:

A15148653

Trade Name

DETEGASA

Status:

ACTIVE

Incorporation Date:

21/05/1985

Register Data

Last Published Account Deposit:

2013

Share Capital:

665.000

Localization:

CTRA. DE CASTRO-MEIRAS, TUIMIL-SEQUEIRO - VALDOVIÑO - 15552 - LA CORUÑA

Telephone - Fax - Email - Website:

Ph.:. 981 48 54 44 Website. www.detegasa.com/

Activity:

NACE:

2899 - Manufacture of other special-purpose machinery n.e.c.

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

29 for a total cost of NaN

Subsidies:

6 for a total cost of 93391867.29

Quality Certificate:

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Defaults on debt with Financial Institutions and Large Companies

None

---

Judicial Claims (Notices, Executive Proceedings, Attachments, Auctions, Bad Debt)

None

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

ALFREDO PIÑEIRO MONTERO

10.52 %

ANTONIO GROSSO BUMHAM

10.52 %

CAMINO ABANDO TARTIERE

5.08 %

COVADONGA GOMEZ DIAZ

1.84 %

ELISA RODRIGUEZ SANJURJO

2.63 %

HONORINO ESTEVEZ MUÑOZ OREA

10.52 %

JAVIER RODRIGUEZ GRANDJEAN

10.52 %

JOAQUIN GOMEZ DIAZ

1.84 %

JOSE GOMEZ DIAZ

1.84 %

JOSE M RODRIGUEZ SANJURJO

2.63 %

JOSE MARIA ABANDO TARTIERE

0.35 %

JUAN CARLOS ABANDO TARTIERE

3.5 %

MANUEL GARCIA GORDILLO

10.52 %

MARIA BEGOÑA ABANDO TARTIERE

0.34 %

RAIMUNDO ABANDO TARTIERE

3.51 %

RAMON GOMEZ DIAZ

1.84 %

REYES ABANDO TARTIERE

5.08 %

RODRIGUEZ MARINA SOCORRO DIAZ

1.84 %

SOCORRO GOMEZ DIAZ

1.84 %

VICTOR GOMEZ DIAZ

1.84 %

Enquiry Details

Identification

Social Denomination:

DESARROLLO TECNICAS INDUSTRIALES DE GALICIA SA

Trade Name:

DETEGASA

NIF / Fiscal code:

A15148653

Corporate Status:

ACTIVE

Start of activity:

1988

Registered Office:

CTRA. DE CASTRO-MEIRAS, TUIMIL-SEQUEIRO

Locality:

VALDOVIÑO

Province:

LA CORUÑA

Postal Code:

15552

Telephone:

981 48 54 44

Fax:

981 48 63 52

Website:

www.detegasa.com/

Interviewed Person:

Administration, few data. Different efforts

Activity

NACE:

2899

Additional Information:

Manufacture and distribution of hydraulic, industrial and marine equipment.

Additional Address:

Registered office, office and other facilities.

Franchise:

Import / export:

IMPORTS / EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2014

Chronological Summary

Year

Act

1990

Appointments/ Re-elections (1)

1991

Accounts deposit (ejer. 1990) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Increase of Capital (1) Statutory Modifications (2)

1992

Accounts deposit (ejer. 1991) Appointments/ Re-elections (1)

1993

Accounts deposit (ejer. 1992) Adaptation to Law (1) Change of Social Purpose (1)

1994

Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

1996

Accounts deposit (ejer. 1994) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Errata (2)

1997

Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

1998

Accounts deposit (ejer. 1995, 1996) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (1)

1999

Accounts deposit (ejer. 1997, 1998) Board Meeting (2) Capital Reduction (1) Increase of Capital (1) Statutory Modifications (1)

2000

Accounts deposit (ejer. 1999) Appointments/ Re-elections (1)

2001

Accounts deposit (ejer. 2000) Appointments/ Re-elections (1)

2002

Accounts deposit (ejer. 2001)

2003

Accounts deposit (ejer. 2002) Board Meeting (2) Statutory Modifications (1)

2004

Accounts deposit (ejer. 2003) Appointments/ Re-elections (1) Board Meeting (2) Increase of Capital (1) Statutory Modifications (1)

2005

Appointments/ Re-elections (1) Board Meeting (1) Cessations/ Resignations/ Reversals (1)

2006

Accounts deposit (ejer. 2004, 2005) Board Meeting (1)

2007

Accounts deposit (ejer. 2006) Appointments/ Re-elections (1) Board Meeting (1)

2008

Accounts deposit (ejer. 2007) Board Meeting (1)

2009

Board Meeting (1)

2010

Accounts deposit (ejer. 2008, 2009) Appointments/ Re-elections (2) Board Meeting (1) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

2011

Accounts deposit (ejer. 2010) Appointments/ Re-elections (1) Board Meeting (1) Cessations/ Resignations/ Reversals (1)

2012

Accounts deposit (ejer. 2011) Appointments/ Re-elections (1) Board Meeting (1)

2013

Accounts deposit (ejer. 2012) Board Meeting (1)

2014

Accounts deposit (ejer. 2013) Appointments/ Re-elections (2) Board Meeting (1) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (2) Statutory Modifications (1)

Breakdown of Owners' Equity

Registered Capital:

665.000

Paid up capital:

665.000

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

03/07/1991

Increase of Capital

57.096

60.101

08/11/1999

Capital Reduction

-3.005

57.096

08/11/1999

Increase of Capital

37.904

95.000

08/09/2004

Increase of Capital

570.000

665.000

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

ABANDO TARTIERE JUAN CARLOS

16/05/2014

MEMBER OF THE BOARD

GOMEZ DIAZ JOSE

16/05/2014

ESTEVEZ CASELLAS HONORINO

16/05/2014

ABANDO TARTIERE JUAN CARLOS

16/05/2014

JOINT ATTORNEY

RODRIGUEZ DE GRANDJEAN Y LOPEZ DE VALCARCEL JAVIER

12/01/2010

AVENDAÑO SANJUAN EDMUNDO

12/01/2010

PROXY

AVENDAÑO SANJUAN EDMUNDO ANDRES

01/07/1992

GROSSO BURNHAM ANTONIO

07/01/1991

CHIEF EXECUTIVE OFFICER

RODRIGUEZ COTARELO JOSE ANTONIO

12/09/1991

SECRETARY

AVENDAÑO SANJUAN EDMUNDO

16/05/2014

ACCOUNTS' AUDITOR / HOLDER

AUDIGAL SL

16/05/2014

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ABANDO BENGOA JOSE MARIA

PRESIDENT

12/09/1991

ABANDO TARTIERE JUAN CARLOS

MEMBER OF THE BOARD

25/10/1996

MEMBER OF THE BOARD

07/09/2000

MEMBER OF THE BOARD

08/09/2004

MEMBER OF THE BOARD

12/01/2010

MEMBER OF THE BOARD

16/05/2014

PRESIDENT

12/01/2010

PRESIDENT

16/05/2014

AUDIGAL SL

ACCOUNTS' AUDITOR / HOLDER

16/05/2014

AVENDAÑO SANJUAN EDMUNDO

SECRETARY

16/05/2014

AVENDAÑO SANJUAN EDMUNDO ANDRES

PROXY

01/07/1992

ESTEVEZ MUÑOZ OREA HONORINO

MEMBER OF THE BOARD

22/10/1997

MEMBER OF THE BOARD

11/09/2001

MEMBER OF THE BOARD

06/08/2007

MEMBER OF THE BOARD

12/01/2010

MEMBER OF THE BOARD

16/05/2014

ESTEVEZ MUÑOZ OREA HONORIO

MEMBER OF THE BOARD

25/11/1994

MEMBER

12/09/1991

GOMEZ DIAZ JOSE

MEMBER OF THE BOARD

12/01/2010

MEMBER OF THE BOARD

21/08/2012

MEMBER OF THE BOARD

16/05/2014

GOMEZ SAENZ MESSIA JOAQUIN

PRESIDENT

25/11/1994

PRESIDENT

11/09/2001

MEMBER OF THE BOARD

11/09/2001

MEMBER OF THE BOARD

13/09/2005

PRESIDENT

13/09/2005

PRESIDENT

22/10/1997

MEMBER OF THE BOARD

22/10/1997

GOMEZ SAINZ JOAQUIN

MEMBER OF THE BOARD

12/09/1991

GROSSO BURNHAM ANTONIO

MEMBER OF THE BOARD

07/09/2000

MEMBER OF THE BOARD

08/09/2004

MEMBER OF THE BOARD

12/01/2010

SECRETARY

25/10/1996

SECRETARY

07/09/2000

SECRETARY

08/09/2004

SECRETARY

12/01/2010

MEMBER

12/09/1991

PIÑEIRO MONTERO ALFREDO

PROXY

07/03/2011

RODRIGUEZ COTARELO JOSE ANTONIO

MEMBER OF THE BOARD

25/10/1996

MEMBER OF THE BOARD

07/09/2000

MEMBER OF THE BOARD

08/09/2004

MEMBER OF THE BOARD

12/01/2010

MEMBER

12/09/1991

RODRIGUEZ DE GRANDIEAN Y LOPEZ DE VALCARCEL JAVIER

PROXY

12/01/2010

RODRIGUEZ GRANDIEAN LOPEZ VALCARCEL JAVIER

CHIEF EXECUTIVE OFFICER

25/10/1996

MEMBER OF THE BOARD

20/01/1998

CHIEF EXECUTIVE OFFICER

20/01/1998

RODRIGUEZ GRANDJEAN LOPEZ VALCARCEL JAVI

MEMBER

12/09/1991

RODRIGUEZ GRANDJEAN LOPEZ VALCARCEL JAVIER

MEMBER OF THE BOARD

22/10/1997

CHIEF EXECUTIVE OFFICER

12/09/1991

CHIEF EXECUTIVE OFFICER

25/11/1994

CHIEF EXECUTIVE OFFICER

22/10/1997

Executive board

Post

NIF

Name

COMMERCIAL MANAGER

JOSE LUIS RODRIGUEZ

FINANCIAL DIRECTOR

EDMUNDO AVENDAÑO GRANJEA

MANAGING DIRECTOR

JAVIER GRANJEA

CHAIRMAN

JUAN CARLOS ABANDO TARTIERE

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

Unpublished

---

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

---

> Basis for rating

Positive Factors

Adverse Factors

No judicial claims have been detected in the Official Gazettes, regarding any Entity's outstanding debts with the Tax Bureau or Social Security administrations, as submitted by Courts of the various court jurisdictions.

No irregular payment performance has been detected based on information obtained from credit bureaus.

The current debt represents a 26.61of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

DESARROLLO TECNICAS INDUSTRIALES DE GALICIA SA obtains economic profitability from the necessary investments in the development of its activity in comparison with its assets.

High financial profitability. Net return from the company's main activity performed using its own equity is high. This income return has decreased in comparison with the previous financial year.

DESARROLLO TECNICAS INDUSTRIALES DE GALICIA SA presents a low turnover of the current assets , which could indicate an inefficient use of non-current assets due to the lacking of enough operating income capacity based on the dedicated assets available for sale.

No Company's subsidiaries or branches are known.

In the past year the company has suffered terminations or resignations of corporate bodies . Instability in the management and administration of the company may affect the operational structure of the company disfavoring the long-term growth.

Among the companies with similar characteristics, DESARROLLO TECNICAS INDUSTRIALES DE GALICIA SA is located in one of the autonomous communities that have shown lesser business development in Spain. In principle, this feature hinders the consolidation of companies.

Probability of default

> Probabilidad Estimada de Impago para los próximos 12 meses: 0.517 %

> Latest Rating Changes :

Sector in which comparison is carried out :

279 Manufacture of other electrical equipment

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 99.00% of the companies of the sector DESARROLLO TECNICAS INDUSTRIALES DE GALICIA 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 0.517%.

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.

Result of query submitted to the R.A.I. (Spanish Bad Debt Register) on 29 / 8 / 2014

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

No se han publicado

Incidences with the Autonomous Administration

No se han publicado

Incidences with the Local Administration

No se han publicado

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

Link List

SHAREHOLDERS:

20 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

ALFREDO PIÑEIRO MONTERO

10.52

ANTONIO GROSSO BUMHAM

10.52

CAMINO ABANDO TARTIERE

5.08

COVADONGA GOMEZ DIAZ

1.84

ELISA RODRIGUEZ SANJURJO

2.63

HONORINO ESTEVEZ MUÑOZ OREA

10.52

JAVIER RODRIGUEZ GRANDJEAN

10.52

JOAQUIN GOMEZ DIAZ

1.84

JOSE GOMEZ DIAZ

1.84

JOSE M RODRIGUEZ SANJURJO

2.63

JOSE MARIA ABANDO TARTIERE

0.35

JUAN CARLOS ABANDO TARTIERE

3.5

MANUEL GARCIA GORDILLO

10.52

MARIA BEGOÑA ABANDO TARTIERE

0.34

RAIMUNDO ABANDO TARTIERE

3.51

RAMON GOMEZ DIAZ

1.84

REYES ABANDO TARTIERE

5.08

RODRIGUEZ MARINA SOCORRO DIAZ

1.84

SOCORRO GOMEZ DIAZ

1.84

VICTOR GOMEZ DIAZ

1.84

Turnover

Total Sales 2013

9.800.000

Estimated Balance

Prev. 2013 Non current assets 500.000 Current assets 15.500.000 Equity 10.500.000 Non current liabilities 250.000 Current liabilities 5.250.000 Total assets and liabilities 16.000.000 Sales 2013 9.800.000

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2013

Normales

August 2014

2012

Normales

July 2013

2011

Normales

August 2012

2010

Normales

October 2011

2009

Normales

July 2010

2008

Normales

June 2010

2007

Normales

July 2008

2006

Normales

October 2007

2005

Normales

October 2006

2004

Normales

September 2006

2003

Normales

July 2004

2002

Normales

August 2003

2001

Normales

September 2002

2000

Normales

August 2001

1999

Normales

July 2000

1998

Normales

July 1999

1997

Normales

December 1998

1996

Normales

July 1997

1995

Normales

December 1997

1994

Normales

December 1996

1992

Normales

July 1993

1991

Normales

July 1992

1990

Normales

July 1991

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 31/12/2013

> Balance en formato Mixto 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 using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2013

2012

2011

2010

2009

A) NON-CURRENT ASSETS: 11000

529.007,00

491.655,00

184.943,00

202.908,00

230.007,00

I. Intangible fixed assets : 11100

0,00

1. Development: 11110

0,00

2. Concessions: 11120

0,00

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

0,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

0,00

6. Investigation: 11160

0,00

7. Other intangible fixed assets: 11170

0,00

II. Tangible fixed assets : 11200

174.961,00

178.517,00

179.584,00

195.301,00

227.795,00

1. Land and buildings: 11210

111.140,00

117.839,00

124.537,00

131.236,00

141.075,00

2. Technical installations and other tangible fixed assets: 11220

63.821,00

60.678,00

55.047,00

64.065,00

86.720,00

3. Tangible asset in progress and advances: 11230

0,00

III. Real estate investment: 11300

0,00

1. Land: 11310

0,00

2. Buildings: 11320

0,00

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

352.528,00

309.408,00

0,00

2.211,00

1. Equity instruments: 11410

0,00

2. Credits to businesses: 11420

352.528,00

309.408,00

0,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

2.211,00

6. Other investments: 11460

0,00

V. Long-term financial investments: 11500

1.518,00

3.730,00

0,00

1. Equity instruments: 11510

0,00

2. Credits to third parties : 11520

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

1.518,00

3.730,00

0,00

6. Other investments: 11560

0,00

VI. Assets for deferred tax : 11600

0,00

1.630,00

5.396,00

0,00

VII. Non-current trade debts : 11700

0,00

B) CURRENT ASSETS: 12000

15.273.248,00

16.466.734,00

19.183.540,00

22.229.213,00

17.552.773,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

1.076.817,00

2.192.738,00

3.478.510,00

3.790.951,00

2.911.960,00

1. Commercial: 12210

0,00

2. Primary material and other supplies: 12220

219.999,00

162.646,00

39.943,00

42.522,00

34.957,00

3. Work in progress: 12230

816.801,00

1.992.913,00

3.438.567,00

3.748.429,00

2.854.702,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

816.801,00

1.992.913,00

3.438.567,00

3.748.429,00

2.854.702,00

4. Finished goods: 12240

0,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

0,00

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

0,00

6. Advances to suppliers: 12260

40.016,00

37.179,00

0,00

22.301,00

III. Trade debtors and others receivable accounts: 12300

1.461.814,00

2.654.120,00

1.154.610,00

1.559.364,00

5.431.856,00

1. Trade debtors / accounts receivable: 12310

610.003,00

2.161.017,00

1.064.581,00

1.510.343,00

5.220.502,00

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

0,00

b) Customers for sales and provisions of services : 12312

610.003,00

2.161.017,00

1.064.581,00

1.510.343,00

5.220.502,00

2. Customers, Group companies and associates : 12320

0,00

3. Other accounts receivable: 12330

87,00

0,00

772,00

406,00

148.359,00

4. Personnel: 12340

0,00

800,00

150,00

73,00

200,00

5. Assets for deferred tax: 12350

0,00

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

851.724,00

492.303,00

89.106,00

48.541,00

62.795,00

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

0,00

951,00

0,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

0,00

951,00

0,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

0,00

VII. Cash and other equivalent liquid assets : 12700

12.734.618,00

11.619.876,00

14.549.470,00

16.878.898,00

9.208.956,00

1. Treasury: 12710

2.817.091,00

618.581,00

1.612.947,00

6.826.111,00

9.208.956,00

2. Other equivalent liquid assets: 12720

9.917.527,00

11.001.295,00

12.936.523,00

10.052.787,00

0,00

TOTAL ASSETS (A + B) : 10000

15.802.256,00

16.958.389,00

19.368.483,00

22.432.121,00

17.782.779,00

ORIGINAL

Liabilities and Net Worth

2013

2012

2011

2010

2009

A) NET WORTH: 20000

11.414.155,00

10.317.166,00

9.169.285,00

11.425.360,00

8.696.443,00

A-1) Shareholders' equity: 21000

11.393.763,00

10.289.456,00

9.132.081,00

11.378.556,00

8.411.900,00

I. Capital: 21100

665.000,00

1. Registered capital : 21110

665.000,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

9.274.456,00

8.467.081,00

8.181.910,00

7.746.900,00

6.206.930,00

1. Legal y estatutarias: 21310

133.000,00

2. Other reserves: 21320

9.141.456,00

8.334.081,00

8.048.910,00

7.613.900,00

6.073.930,00

IV. (Common stock equity): 21400

0,00

V. Results from previous periods: 21500

0,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

1.454.307,00

1.557.375,00

2.185.171,00

2.966.655,00

2.057.971,00

VIII. (Interim dividend): 21800

0,00

-400.000,00

-1.900.000,00

0,00

-518.000,00

IX. Other net worth instruments: 21900

0,00

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

20.392,00

27.710,00

37.204,00

46.805,00

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

20.392,00

27.710,00

37.204,00

46.805,00

0,00

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

0,00

284.543,00

B) NON-CURRENT LIABILITIES: 31000

183.066,00

213.367,00

230.509,00

224.151,00

120.193,00

I. Long-term provisions: 31100

0,00

5.926,00

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

5.926,00

II Long-term creditors: 31200

183.066,00

213.367,00

230.509,00

218.225,00

114.267,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

0,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

183.066,00

213.367,00

230.509,00

218.225,00

114.267,00

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

0,00

IV. Liabilities for deferred tax: 31400

0,00

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

4.205.034,00

6.427.856,00

9.968.689,00

10.782.610,00

8.966.143,00

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

0,00

II. Short-term provisions: 32200

794.704,00

808.941,00

858.738,00

1.068.672,00

1.037.428,00

III. Short-term creditors : 32300

8.151,00

1.131,00

0,00

3.515,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

0,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

8.151,00

1.131,00

0,00

3.515,00

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

0,00

V. Trade creditors and other accounts payable: 32500

3.402.179,00

5.617.784,00

9.109.951,00

9.713.938,00

7.925.200,00

1. Suppliers: 32510

832.331,00

914.093,00

820.393,00

828.053,00

1.869.355,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

832.331,00

914.093,00

820.393,00

828.053,00

1.869.355,00

2. Suppliers, Group companies and associates: 32520

63.737,00

32.884,00

137.208,00

0,00

3. Other creditors: 32530

4.847,00

7.103,00

3.838,00

5.923,00

6.973,00

4. Personnel (remuneration due): 32540

392.879,00

491.884,00

310.398,00

126,00

195.510,00

5. Liabilities for current tax: 32550

254.947,00

116.378,00

487.161,00

995.318,00

641.662,00

6. Otras deudas con las Administraciones Públicas. : 32560

477.166,00

567.751,00

768.436,00

440.482,00

330.462,00

7. Advances from clients: 32570

1.376.271,00

3.487.691,00

6.582.517,00

7.444.036,00

4.881.237,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

15.802.256,00

16.958.389,00

19.368.483,00

22.432.121,00

17.782.779,00

ORIGINAL

Profit and Loss

2013

2012

2011

2010

2009

1. Net turnover: 40100

9.334.877,00

9.533.886,00

9.145.252,00

10.265.483,00

10.308.932,00

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

-1.176.112,00

-1.445.654,00

-309.862,00

893.727,00

982.813,00

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

0,00

4. Supplies : 40400

-2.810.469,00

-2.546.893,00

-2.299.119,00

-3.021.843,00

-4.228.199,00

5. Other operating income: 40500

38.859,00

83.348,00

100.353,00

124.848,00

217.867,00

6. Personnel costs: 40600

-2.909.638,00

-3.008.344,00

-3.124.845,00

-3.507.622,00

-3.250.885,00

7. Other operating costs: 40700

-792.536,00

-850.690,00

-814.026,00

-1.117.139,00

-1.236.449,00

8. Amortisation of fixed assets: 40800

-27.178,00

-24.796,00

-23.317,00

-32.494,00

-38.042,00

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

16.748,00

104.872,00

21.254,00

327.989,00

71.136,00

10. Excess provisions : 41000

0,00

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

0,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

58.898,00

62.926,00

35.691,00

120.330,00

61.834,00

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

1.733.451,00

1.908.655,00

2.731.380,00

4.053.279,00

2.889.007,00

14. Financial income : 41400

319.057,00

311.479,00

394.860,00

204.216,00

77.631,00

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

7.317,00

9.495,00

9.601,00

204.216,00

0,00

b) Other financial income: 41490

311.739,00

301.984,00

385.260,00

0,00

77.631,00

15. Financial expenditure: 41500

-30.409,00

-34.027,00

-35.319,00

-20.372,00

-28.621,00

16. Changes in fair value of financial instruments : 41600

0,00

17. Exchange rate differences : 41700

31.022,00

17.337,00

33.285,00

9.040,00

1.634,00

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

-186,00

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

B) FINANCIAL REVENUE (14 + 15 + 16 + 17 + 18 + 19) : 49200

319.484,00

294.789,00

392.826,00

192.884,00

50.644,00

C) NET RESULT BEFORE TAXES (A + B) : 49300

2.052.935,00

2.203.444,00

3.124.206,00

4.246.164,00

2.939.651,00

20. Income taxes: 41900

-598.627,00

-646.069,00

-939.035,00

-1.279.508,00

-881.681,00

D) RESULT OF THE PERIOD (C + 20) : 49500

1.454.307,00

1.557.375,00

2.185.171,00

2.966.655,00

2.057.971,00

> 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 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:

529.007,00

491.655,00

183.314,00

197.512,00

230.007,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

0,00

1. Research and development costs:

0,00

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

0,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

5. Software:

0,00

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:

174.961,00

178.517,00

179.584,00

195.301,00

227.795,00

1. Land and construction:

111.140,00

117.839,00

124.537,00

131.236,00

141.075,00

2. Technical installations and machinery:

60.975,00

57.973,00

52.592,00

61.208,00

82.854,00

3. Other installations, tools and furniture:

0,00

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

0,00

5. Other tangible assets:

2.846,00

2.706,00

2.455,00

2.857,00

3.867,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

354.047,00

313.138,00

3.730,00

2.211,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

352.528,00

309.408,00

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

0,00

6. Other receivables:

0,00

7. Long term guarantees and deposits:

1.518,00

3.730,00

2.211,00

8. Provisions:

0,00

9. Long-term receivables from public bodies:

0,00

V. Own shares:

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

15.273.248,00

16.466.734,00

19.185.169,00

22.234.609,00

17.552.773,00

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

0,00

II. Stocks:

1.076.817,00

2.192.738,00

3.478.510,00

3.790.951,00

2.911.960,00

1. Goods for resale:

0,00

2. Raw materials and other consumables:

219.999,00

162.646,00

39.943,00

42.522,00

34.957,00

3. Goods in process and semifinished ones:

816.801,00

1.992.913,00

3.438.567,00

3.748.429,00

2.854.702,00

4. Finished products:

0,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

40.016,00

37.179,00

0,00

22.301,00

7. Provisions:

0,00

III. Debtors:

1.461.814,00

2.654.120,00

1.156.239,00

1.564.760,00

5.431.856,00

1. Trade debtors / accounts receivable:

610.003,00

2.161.017,00

1.064.581,00

1.510.343,00

5.220.502,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

87,00

0,00

772,00

406,00

148.359,00

5. Staff:

0,00

800,00

150,00

73,00

200,00

6. Public bodies:

851.724,00

492.303,00

90.736,00

53.937,00

62.795,00

7. Provisions:

0,00

IV. Short-term investments:

9.917.527,00

11.001.295,00

12.937.473,00

10.052.787,00

0,00

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:

9.917.527,00

11.001.295,00

12.936.523,00

10.052.787,00

0,00

6. Other receivables:

0,00

7. Shor term guarantees and deposits:

0,00

951,00

0,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

2.817.091,00

618.581,00

1.612.947,00

6.826.111,00

9.208.956,00

VII. Prepayments and accrued income:

0,00

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

15.802.256,00

16.958.389,00

19.368.483,00

22.432.121,00

17.782.779,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2013

2012

2011

2010

2009

A) EQUITY:

11.414.155,00

10.317.166,00

9.169.285,00

11.425.360,00

8.497.263,00

I. Subscribed capital:

665.000,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

9.294.848,00

8.494.791,00

8.219.114,00

7.793.705,00

6.292.293,00

1. Legal reserve:

133.000,00

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:

9.161.848,00

8.361.791,00

8.086.114,00

7.660.705,00

6.159.293,00

Differences due to capital adjustement to euros:

0,00

V. Profit or loss brought forward:

0,00

1. Retained earnings:

0,00

2. Prior year losses:

0,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

1.454.307,00

1.557.375,00

2.185.171,00

2.966.655,00

2.057.971,00

VII. Interim dividend paid:

0,00

-400.000,00

-1.900.000,00

0,00

-518.000,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

0,00

199.180,00

1. Capital grants:

0,00

199.180,00

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

5.926,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

0,00

5.926,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

183.066,00

213.367,00

230.509,00

218.225,00

114.267,00

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:

0,00

1. Loans and other liabilities:

0,00

2. Long-term liabilities from capital leases:

0,00

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

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

183.066,00

213.367,00

230.509,00

218.225,00

114.267,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

183.066,00

213.367,00

230.509,00

218.225,00

114.267,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

0,00

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:

4.205.034,00

6.427.856,00

9.968.689,00

10.782.610,00

8.966.143,00

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:

0,00

1. Loans and other liabilities:

0,00

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:

63.737,00

32.884,00

137.208,00

0,00

1. Amounts owed to group companies:

63.737,00

32.884,00

137.208,00

0,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

2.213.450,00

4.408.887,00

7.406.748,00

8.278.012,00

6.757.566,00

1. Advanced payments from customers:

1.376.271,00

3.487.691,00

6.582.517,00

7.444.036,00

4.881.237,00

2. Amounts owed for purchases of goods or services:

837.179,00

921.196,00

824.231,00

833.976,00

1.876.329,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

1.133.144,00

1.177.144,00

1.565.994,00

1.435.926,00

1.171.148,00

1. Public bodies:

732.113,00

684.129,00

1.255.597,00

1.435.800,00

972.124,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

8.151,00

1.131,00

0,00

3.515,00

4. Wages and salaries payable:

392.879,00

491.884,00

310.398,00

126,00

195.510,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

794.704,00

808.941,00

858.738,00

1.068.672,00

1.037.428,00

VII. Prepayments and accrued income:

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

15.802.256,00

16.958.389,00

19.368.483,00

22.432.121,00

17.782.779,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2013

2012

2011

2010

2009

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

8.345.155,00

8.556.473,00

7.545.524,00

8.978.979,00

9.663.876,00

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

1.176.112,00

1.445.654,00

309.862,00

0,00

A.2. Supplies:

2.817.505,00

2.553.269,00

2.304.875,00

3.029.408,00

4.228.199,00

a) Stock consumption:

0,00

b) Consumption of raw materials and miscellaneous consumable ones:

2.599.772,00

2.355.956,00

2.126.757,00

2.795.300,00

3.984.997,00

c) Miscellaneous external expenditure:

217.733,00

197.313,00

178.117,00

234.108,00

243.202,00

A.3. Staff costs:

2.909.638,00

3.008.344,00

3.124.845,00

3.507.622,00

3.250.885,00

a) Wages, salaries et al.:

2.389.430,00

2.470.489,00

2.566.161,00

2.880.502,00

2.551.645,00

b) Social security costs:

520.208,00

537.855,00

558.684,00

627.120,00

699.240,00

A.4. Depreciation expense:

27.178,00

24.796,00

23.317,00

32.494,00

38.042,00

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

54.124,00

59.272,00

57.062,00

78.644,00

129.969,00

a) Stock provision variation:

-7.036,00

-6.376,00

-5.756,00

-7.565,00

0,00

b) Variation in provision and bad debt losses:

-353,00

-379,00

-363,00

-498,00

-751,00

c) Variation of other trade provisions:

61.513,00

66.027,00

63.181,00

86.707,00

130.719,00

A.6. Other operating charges:

731.376,00

785.042,00

751.208,00

1.030.929,00

1.106.480,00

a) External services:

722.744,00

775.777,00

742.342,00

1.018.762,00

1.104.862,00

b) Taxes:

8.632,00

9.266,00

8.866,00

12.168,00

1.618,00

c) Other operating expenses:

0,00

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):

1.657.804,00

1.740.858,00

2.674.434,00

3.604.960,00

2.756.037,00

A.7. Financial and similar charges:

30.409,00

34.027,00

35.319,00

20.372,00

28.621,00

a) Due to liabilities with companies of the group:

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

30.409,00

34.027,00

35.319,00

20.372,00

28.621,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

186,00

0,00

A.9. Exchange losses:

0,00

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

312.167,00

285.294,00

383.225,00

0,00

50.644,00

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

1.969.971,00

2.026.152,00

3.057.660,00

3.593.629,00

2.806.681,00

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

0,00

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

0,00

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):

82.964,00

177.292,00

66.546,00

652.535,00

132.970,00

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

2.052.935,00

2.203.444,00

3.124.206,00

4.246.164,00

2.939.651,00

A.15. Corporation tax:

598.627,00

646.069,00

939.035,00

1.279.508,00

881.681,00

A.16. Miscellaneous taxes:

0,00

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

1.454.307,00

1.557.375,00

2.185.171,00

2.966.655,00

2.057.971,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2013

2012

2011

2010

2009

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

9.799.462,00

10.113.848,00

9.730.695,00

11.945.634,00

11.721.847,00

B.1. Net total sales:

9.334.877,00

9.533.886,00

9.145.252,00

10.265.483,00

10.308.932,00

a) Sales:

9.334.877,00

9.533.886,00

9.145.252,00

10.265.483,00

10.308.932,00

b) Rendering of services:

0,00

Returns and Rappel on sales:

0,00

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

0,00

893.727,00

982.813,00

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

0,00

B.4. Miscellaneous operating income:

38.859,00

83.348,00

100.353,00

124.848,00

217.867,00

a) Auxiliary income and other from current management:

38.859,00

83.348,00

100.353,00

124.848,00

214.585,00

b) Grants:

0,00

3.282,00

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):

0,00

B.5. Income from equity investment:

311.739,00

301.984,00

385.260,00

0,00

a) In companies of the group:

311.739,00

301.984,00

385.260,00

0,00

b) In associated companies:

0,00

c) Third parties:

0,00

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

0,00

6.247,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

6.247,00

B.7. Miscellaneous interests or similar income:

0,00

71.384,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

0,00

71.384,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

31.022,00

17.337,00

33.285,00

9.040,00

1.634,00

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

0,00

11.332,00

0,00

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

0,00

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

0,00

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

0,00

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

24.066,00

114.366,00

30.855,00

532.205,00

71.136,00

B.12. Extraordinary income:

58.898,00

62.926,00

35.691,00

120.330,00

61.834,00

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):

0,00

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

0,00

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

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

2.052.935,00

2.203.444,00

3.124.206,00

4.246.164,00

2.939.651,00

2. Results adjustments.: 61200

-268.787,00

-262.151,00

-350.230,00

-479.339,00

96.209,00

a) Fixed Assets Amortization (+).: 61201

27.178,00

24.796,00

23.317,00

32.494,00

38.042,00

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

0,00

40.299,00

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

0,00

89.670,00

d) Allocation of grants (-).: 61204

-7.317,00

-9.495,00

-21.254,00

-327.989,00

-74.418,00

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

0,00

-2.028,00

0,00

g) Financial income (-).: 61207

-319.057,00

-311.479,00

-394.860,00

-204.216,00

0,00

h) Financial Expenses (+). : 61208

30.409,00

34.027,00

35.319,00

20.372,00

2.616,00

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

0,00

9.276,00

0,00

3. Changes in current capital equity.: 61300

85.407,00

-3.751.992,00

-93.910,00

4.804.572,00

-2.303.541,00

a) Stock (+/-).: 61301

1.115.922,00

1.285.771,00

312.442,00

-878.991,00

-1.023.327,00

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

1.192.307,00

-1.499.511,00

404.754,00

3.872.492,00

-1.287.521,00

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

0,00

951,00

-951,00

0,00

373,00

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

-2.222.822,00

-3.540.833,00

-603.988,00

1.788.739,00

-86.251,00

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

0,00

-209.934,00

27.728,00

93.185,00

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

0,00

1.630,00

3.766,00

-5.396,00

0,00

4. Other cash flows for operating activities.: 61400

-309.980,00

-368.617,00

-579.494,00

-1.104.941,00

-2.616,00

a) Interest payments (-). : 61401

-30.409,00

-34.027,00

-25.718,00

-20.372,00

-2.616,00

c) Interest collection (+). : 61403

319.057,00

311.479,00

385.260,00

194.940,00

0,00

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

-598.627,00

-646.069,00

-939.035,00

-1.279.508,00

0,00

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

1.559.574,00

-2.179.316,00

2.100.573,00

7.466.457,00

729.703,00

6. Payments for investment (-).: 62100

-64.530,00

-333.137,00

-7.091,00

0,00

-215.765,00

a) Companies of the group and affiliates. : 62101

-43.120,00

-309.408,00

0,00

c) Fixed assets. : 62103

-23.621,00

-23.729,00

-5.573,00

0,00

-215.765,00

e) Other financial assets. : 62105

2.211,00

0,00

-1.518,00

0,00

7. Divestment payment collection (+). : 62200

0,00

215.765,00

c) Fixed assets. : 62203

0,00

215.765,00

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

-91.708,00

-357.932,00

-30.409,00

0,00

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

0,00

21.254,00

79.177,00

-1.020.643,00

d) Disposal of own equity instruments (+). : 63104

0,00

79.177,00

0,00

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

0,00

21.254,00

0,00

15.357,00

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

-30.301,00

-17.142,00

-12.518,00

124.308,00

68.124,00

a) Issuance : 63201

0,00

128.993,00

68.124,00

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

0,00

128.993,00

0,00

5. Other debts (+). : 63206

0,00

68.124,00

b) Repayment and amortization of : 63207

-30.301,00

-17.142,00

-12.518,00

-4.685,00

0,00

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

-30.301,00

-17.142,00

-6.592,00

-4.685,00

0,00

5. Other debts (-). : 63212

0,00

-5.926,00

0,00

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

-350.000,00

-400.000,00

-4.431.646,00

0,00

a) Dividends (-).: 63301

-350.000,00

-400.000,00

-4.431.646,00

0,00

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

-380.301,00

-417.142,00

-4.422.909,00

203.485,00

-952.519,00

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

1.114.743,00

-2.929.594,00

-2.329.428,00

7.669.941,00

-222.816,00

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

11.619.876,00

14.549.470,00

16.878.898,00

9.208.956,00

9.431.772,00

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

12.734.618,00

11.619.876,00

14.549.470,00

16.878.898,00

9.208.956,00

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:

0,12 %

0,01 %

-0,31 %

0,00 %

138,86 %

EBITDA over Sales:

18,05 %

7,61 %

18,52 %

5,93 %

-2,53 %

28,31 %

Cash Flow Yield:

0,07 %

0,01 %

-0,17 %

0,00 %

140,83 %

Profitability

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

10,84 %

6,02 %

11,09 %

2,32 %

-2,24 %

159,22 %

Total economic profitability:

13,18 %

6,27 %

13,19 %

1,93 %

-0,08 %

225,30 %

Financial profitability:

12,76 %

8,74 %

15,14 %

-0,51 %

-15,67 %

1.826,89 %

Margin:

17,86 %

4,63 %

19,19 %

2,06 %

-6,92 %

124,75 %

Mark-up:

21,27 %

4,94 %

22,26 %

0,31 %

-4,42 %

1.484,38 %

Solvency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

3,73

0,21

2,07

0,17

80,57

24,00

Acid Test:

4,16

1,09

2,54

1,02

63,87

7,43

Working Capital / Investment:

0,70

0,16

0,59

0,14

18,32

9,82

Solvency:

4,48

1,51

2,93

1,54

52,82

-2,04

Indebtedness

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,32

1,07

0,57

1,26

-44,36

-15,05

Borrowing Composition:

0,05

0,50

0,04

0,85

41,36

-40,82

Repayment Ability:

3,22

45,59

-1,99

-1.637,65

261,92

102,78

Warranty:

4,40

1,94

2,91

1,79

51,24

7,98

Generated resources / Total creditors:

0,41

0,14

0,27

0,05

52,00

183,48

Efficiency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,58

1,44

1,59

1,33

-0,49

8,63

Turnover of Collection Rights :

6,41

4,57

3,62

4,32

76,97

5,87

Turnover of Payment Entitlements:

0,71

3,89

0,35

3,65

105,30

6,66

Stock rotation:

7,17

7,86

3,59

5,57

99,48

41,05

Assets turnover:

0,61

1,30

0,58

1,13

5,02

15,34

Borrowing Cost:

0,85

2,31

0,58

2,91

45,05

-20,55

> 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:

0,12 %

-0,31 %

-0,25 %

0,75 %

-0,02 %

EBITDA over Sales:

18,05 %

18,52 %

29,50 %

35,43 %

27,10 %

Cash Flow Yield:

0,07 %

-0,17 %

-0,12 %

0,34 %

-0,01 %

Profitability

2013

2012

2011

2010

2009

Operating economic profitability:

10,84 %

11,09 %

13,92 %

17,53 %

15,90 %

Total economic profitability:

13,18 %

13,19 %

16,31 %

19,02 %

16,69 %

Financial profitability:

12,76 %

15,14 %

23,93 %

26,07 %

24,46 %

Margin:

17,86 %

19,19 %

29,16 %

37,85 %

26,86 %

Mark-up:

21,27 %

22,26 %

33,41 %

39,71 %

27,34 %

Solvency

2013

2012

2011

2010

2009

Liquidity:

3,73

2,07

1,60

1,74

1,16

Acid Test:

4,16

2,54

1,72

1,90

1,85

Working Capital / Investment:

0,70

0,59

0,48

0,51

0,48

Solvency:

4,48

2,93

2,11

2,29

2,21

Indebtedness

2013

2012

2011

2010

2009

Indebtedness level:

0,32

0,57

1,02

0,87

0,92

Borrowing Composition:

0,05

0,04

0,03

0,02

0,01

Repayment Ability:

3,22

-1,99

-4,01

1,29

-36,10

Warranty:

4,40

2,91

2,07

2,26

2,21

Generated resources / Total creditors:

0,41

0,27

0,24

0,30

0,26

Efficiency

2013

2012

2011

2010

2009

Productivity:

1,58

1,59

1,86

2,04

1,86

Turnover of Collection Rights :

6,41

3,62

8,01

6,66

1,94

Turnover of Payment Entitlements:

0,71

0,35

0,31

0,52

0,81

Stock rotation:

7,17

3,59

1,89

1,79

2,67

Assets turnover:

0,61

0,58

0,48

0,46

0,59

Borrowing Cost:

0,85

0,58

0,38

0,21

0,36

COMPARATIVE SECTORIAL BALANCE

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

Variación -

Empresa

Sector

Variación -

Empresa

Sector

Variación -

Empresa

Sector

News

La Voz de Galicia

29/03/2014

Los ingenieros técnicos industriales de Ferrol premian a la empresa Detegasa

Companies related

Public Tenders and Works Won

Organisation that calls the tender:

MINISTERIO DE DEFENSA

Objective of Tender:

BUQUES ARFER REPARACION Y MANTENIMIENTO DE EQUIPOS DE COCINA, LAVANDERIAS Y REPOSTERIAS

Date Awarded:

22/07/2014

Cost:

30.000,00 EURO.

Organisation that calls the tender:

MINISTERIO DE DEFENSA

Objective of Tender:

B A C CANTABRIA SUMINISTRO CON INSTALACION DE LOS EQUIPOS Y MATERIALES PARA LA REFORMA DEL LOCAL DE LAVANDERIA

Date Awarded:

22/07/2014

Cost:

51.150,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

MANTENIMIENTO DE INSTALACIONES DE TRATAMIENTO DE AGUAS OLEOSAS PARA EL AÑO 2014

Date Awarded:

26/12/2013

Cost:

150.000,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

MANTENIMIENTO INTEGRAL DE LAS PLANTAS DE TRATAMIENTO DE AGUAS RESIDUALES DE RESIDUOS ALIMENTARIOS, SEPARADORES DE SENTINA E INCINERADORES EN LOS BUQUES DE LA ARMADA

Date Awarded:

27/07/2012

Cost:

2.773.421,20 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

MANTENIMIENTO DE LAS INSTALACIONES DE AGUAS OLEOSAS

Date Awarded:

02/12/2011

Cost:

400.000,00 EURO.

Organisation that calls the tender:

MINISTERIO DE DEFENSA

Objective of Tender:

SERVICIO DE MANTENIMIENTO DE LAS PLANTAS DE TRATAMIENTO DE AGUAS RESIDUALES EN LOS BUQUES DE LA ARMADA DEPENDIENTES DE ESTE ARSENAL

Date Awarded:

01/09/2011

Cost:

119.000,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

MANTENIMIENTO SISTEMA DE ALETAS ESTABILIZADORAS EN LOS BUQUES DE LA ARMADA

Date Awarded:

29/12/2010

Cost:

689.567,35 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

MANTENIMIENTO DE AGUAS OLEOSAS

Date Awarded:

03/12/2010

Cost:

242.500,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

T A MANTENIMIENTO DE INSTALACIONES AGUAS OLEOSAS

Date Awarded:

11/02/2010

Cost:

250.000,00 EURO.

Organisation that calls the tender:

ARSENAL MILITAR DE CARTAGENA

Objective of Tender:

ADQUISICION DE PLANTA DE TRATAMIENTO DE AGUAS PARA EL SERVICIO DE COMBUSTIBLES

Date Awarded:

28/07/2009

Cost:

159.400,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

SUMINISTRO Y SUSTITUCION DE TUBERIAS DETERIORADAS EN EL MUELLE DEL VISPON

Date Awarded:

19/12/2008

Cost:

236.640,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

SUMINISTRO DE CALDERA Y UNIDAD DE TRATAMIENTO TERMICO

Date Awarded:

23/10/2008

Cost:

388.400,53 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

ADQUISICION E INSTALACION SISTEMA DE EXTINCION CONTRAINCENDIOS EN CAMARAS DE BOMBAS Y GENERADORES ESTACION PETROLIFERA DEL VISPON

Date Awarded:

19/05/2008

Cost:

246.000,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

MANTENIMIENTO DE PLANTAS DE TRATAMIENTO DE AGUAS RESIDUALES, SEPARADORES DE SENTINA E INCINERADORES

Date Awarded:

23/04/2008

Cost:

2.436.092,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

SUMINISTRO CALDERAS, EQUIPOS TRATAMIENTO TERMICO, VALVULAS Y OTROS REPUESTOS PARA PLANTAS TRATAMIENTO DE AGUAS OLEOSAS EN TIERRA

Date Awarded:

31/01/2008

Cost:

1.286.003,49 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

SUMINISTRO DE REPUESTOS PARA PLANTAS DE DEPURACION AGUAS OLEOSAS EN TIERRA

Date Awarded:

28/11/2007

Cost:

123.026,82 EURO.

Organisation that calls the tender:

MINISTERIO DE DEFENSA

Objective of Tender:

Mantenimiento de los equipos instalados en las cocinas de los buques de la Armada que posean un mínimo de dotación de 50 miembros.

Date Awarded:

26/11/2007

Cost:

570.000,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

Mantenimiento de equipos instalados en lavanderías de buques de la Armada con mínimo de dotación de 50 miembros

Date Awarded:

15/11/2007

Cost:

139.884,00 EURO.

Organisation that calls the tender:

DIRECCION DE ABASTECIMIENTO Y TRANSPORTES DE LA ARMADA

Objective of Tender:

ADQUISICION DE REPUESTOS PARA PLANTAS DEPURACION AGUAS OLEOSAS

Date Awarded:

22/10/2007

Cost:

843.000,00 EURO.

Organisation that calls the tender:

MINISTERIO DE AGRICULTURA PESCA Y ALIMENTACION

Objective of Tender:

Suministro e instalación de una planta de tratamiento de aguas residuales en el patrullero de inspección, vigilancia y apoyo a la flota pesquera «Chilreu».

Date Awarded:

15/10/2007

Cost:

179.000,00 EURO.

Organisation that calls the tender:

ARSENAL MILITAR DE CARTAGENA

Objective of Tender:

CONTRATACION DEL SIGUIENTE SERVICIO INSTALACION DE LA PLANTA TAR EN CAZAMINAS SEGURA

Date Awarded:

12/07/2005

Cost:

134.432,00 EURO.

Organisation that calls the tender:

ARSENAL MILITAR DE CARTAGENA

Objective of Tender:

SUMINISTRO E INSTALACION DE UN PLANTA DE TRATAMIENTO DE AGUAS RESIDUALES EN EL BUQUE ALERTA

Date Awarded:

16/10/2004

Cost:

141.000,00 EURO.

Organisation that calls the tender:

ARSENAL MILITAR DE FERROL

Objective of Tender:

SUMINISTRO E INSTALACION DE UNA PLANTA TAR

Date Awarded:

07/10/2004

Cost:

119.999,00 EURO.

Organisation that calls the tender:

DIRECCION DE CONSTRUCCIONES NAVALES DE LA ARMADA DIC

Objective of Tender:

MANTENIMIENTO DE PLANTAS TAR

Date Awarded:

01/07/2004

Cost:

17.910.645,00 EURO.

Organisation that calls the tender:

DIRECCION DE CONSTRUCCIONES NAVALES DE LA ARMADA DIC

Objective of Tender:

ADQUISICION DE REPUESTOS DE PRIMER ESTABLECIMIENTO DE LAS PLANTAS DE TRATAMIENTO DE AGUAS RESIDUALES (TAR) INSTALADAS EN LOS BUQUES.

Date Awarded:

04/12/2003

Cost:

221.334,00 EURO.

Organisation that calls the tender:

DIRECCION DE CONSTRUCCIONES NAVALES DE LA ARMADA DIC

Objective of Tender:

SUMINISTRO DE AULA DIDACTICA PARA EL TRATAMIENTO DE RESIDUOS GENERADOS POR LOS BUQUES

Date Awarded:

10/10/2003

Cost:

1.442.419,00 EURO.

Organisation that calls the tender:

ARSENAL MILITAR DE CARTAGENA

Objective of Tender:

TRANSFORMACION HOLDING TANK EN PLANTA DE TRATAMIENTO DE AGUAS RESIDUALES EN LOS CAZAMINAS TURIA , SELLA Y TAMBRE

Date Awarded:

25/06/2002

Cost:

369.080,00 EURO.

Organisation that calls the tender:

ARSENAL MILITAR DE CARTAGENA

Objective of Tender:

INSTALACION DE PLANTAS DE TRATAMIENTO DE AGUAS RESIDUALES EN LAS CORBETAS CAZADORA Y VENDEDORA

Date Awarded:

31/05/2002

Cost:

510.860,00 EURO.

Organisation that calls the tender:

DIRECCION DE CONSTRUCCIONES NAVALES DE LA ARMADA DIC

Objective of Tender:

MANTENIMIENTO INTEGRAL DE LAS PLANTAS DE TRATAMIENTO DE AGUAS RESIDUALES

Date Awarded:

19/06/2001

Cost:

148.800.000 PTS.

Detail of Subsidies appearing in Balances Memories

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

16.748,29

Notes

El importe reflejado es el imputado a resultados.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

9.494,57

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de Capital.

Status

CONCEDIDA

Amount Granted

21.254,49

Notes

El importe reflejado corresponde al imputado en cuenta de pérdidas y ganancias.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

327.989,30

Notes

Subvención recibida del Estado. La subvención es traspasada al resultado del ejercicio.

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

87.936,64

Notes

Subvención recibida del Estado. La subvención es traspasada al resultado del ejercicio.

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

92.928.444,00

Notes

Subvención recibida del Estado. La subvención es traspasada al resultado del ejercicio.

Research Summary

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.54
UK Pound	1	Rs.99.73
Euro	1	Rs.79.54

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	SDA

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Enquiry Details

Activity

Number of Employees

Chronological Summary

Breakdown of Owners' Equity

Updated Evolution of the Subscribed and Paid-in Capital

Active Social Bodies

Historical Social Bodies

Executive board

Defaults, Legal Claims and Insolvency Proceedings

Probability of default

LEGAL CLAIMS

Link List

Turnover

Estimated Balance

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Detail of Subsidies appearing in Balances Memories

Research Summary

Unit