MIRA INFORM REPORT

Report Date :

24.09.2014

IDENTIFICATION DETAILS

Name :	GRUPO ALVIC FR MOBILIARIO SL

Registered Office :	C/ Gavilan, 2 - P.I. Los Gallegos. - Fuenlabrada - 28946 - Madrid

Country :	Spain

Financials (as on) :	2013

Date of Incorporation :	10.07.1997

Legal Form :	Private Company

Line of Business :	Manufacture of kitchen furniture

No. of Employees :	280

RATING & COMMENTS

MIRA’s Rating :

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

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:

GRUPO ALVIC FR MOBILIARIO SL

NIF / Fiscal code:

B61420709

Status:

ACTIVE

Incorporation Date:

10/07/1997

Register Data

Last Publication in BORME:

14/08/2014 [Miscellaneous Announcements]

Last Published Account Deposit:

2013

Share Capital:

15.376.344,60

Localization:

C/ GAVILAN, 2 - P.I. LOS GALLEGOS. - FUENLABRADA - 28946 - MADRID

Telephone - Fax - Email - Website:

Ph.:. 902 118 608 - 953 562 002 Email. ofitres@ofitres.com Website. www.grupoalvic.com

Activity:

NACE:

3102 - Manufacture of kitchen furniture

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

1 for a total cost of 0

Subsidies:

42 for a total cost of 23798951.299999997

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:

CORPORACION DE PARTICIPACIONES INDUSTRIALES ALCAJAR SL

100 %

Enquiry Details

Identification

Social Denomination:

GRUPO ALVIC FR MOBILIARIO SL

NIF / Fiscal code:

B61420709

Corporate Status:

ACTIVE

Start of activity:

1997

Registered Office:

C/ GAVILAN, 2 - P.I. LOS GALLEGOS.

Locality:

FUENLABRADA

Province:

MADRID

Postal Code:

28946

Telephone:

902 118 608 - 953 562 002

Fax:

953561142

Website:

www.grupoalvic.com

Email:

ofitres@ofitres.com

Branch Offices

Activity

NACE:

3102

Additional Information:

Design and manufacture of panels and components for kitchen and bathroom furniture. It has the quality certificate ISO-14001.

Additional Address:

Gavilán 2 Plind Los Gallegos 28946 Fuenlabrada (Madrid), head office, factory, warehouse, office, attributed on property. Ctra Alcalá la Real sn 23600 Alcaudete (Jaén), factory, warehouse, office, attributed property. Tevenoles 5 08500 Vic (Barcelona), factory, warehouse, office, attributed property. It has a total of 150,000 m2.

Import / export:

IMPORTS / EXPORTS

Future Perspective:

Face recession

Industry situation:

Decline

Number of Employees

Year

No. of employees

Established

Incidentals

2014

280

Chronological Summary

Year

Act

1997

Appointments/ Re-elections (4) Company Formation (1) Other Concepts/ Events (1)

1998

Accounts deposit (ejer. 1997) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Change of Social Purpose (2) Increase of Capital (1) Take-over Merger (9)

1999

Accounts deposit (ejer. 1998) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2)

2000

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

2001

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

2002

Accounts deposit (ejer. 2001) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1)

2003

Accounts deposit (ejer. 2002) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Declaration of Sole Propietorship (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (1)

2004

Accounts deposit (ejer. 2003) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2) Change of Social Denomination (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (1)

2005

Accounts deposit (ejer. 2004) Appointments/ Re-elections (1)

2006

Accounts deposit (ejer. 2005) Appointments/ Re-elections (2) Increase of Capital (1)

2007

Accounts deposit (ejer. 2006)

2008

Accounts deposit (ejer. 2007) Declaration of Sole Propietorship (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (1)

2009

Accounts deposit (ejer. 2008) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

2010

Accounts deposit (ejer. 2009) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

2011

Accounts deposit (ejer. 2010) Appointments/ Re-elections (1)

2012

Accounts deposit (ejer. 2011)

2013

Accounts deposit (ejer. 2012)

2014

Accounts deposit (ejer. 2013) Change of Social address (1) Other Concepts/ Events (1)

Main Historic Changes

Concept

Publication

Act

Date

Corporate Purpose Changes:

LA ADQUISICION, SUSCRIPCION, TENENCIA, DISFRUTE, EXPLOTACION Y ENAJENACION DE TITULOS VALORES, EN PARTICULAR DE ACCIONES Y PARTICIPACIONES SOCIALES DE SOCIEDADES MERCANTILES EN GENERAL, ASI COMO LA PRESTACION DE SERV.DE ASES.S., ETC

Corporate Purpose Change

26/02/1998

ADQUISICION, SUSCRIPCION, TENENCIA, DISFRUTE Y ENAJENACION DE ACCIONES Y PARTICIPACIONES SOCIALES DE SOCIEDADES MERCANTILES EN GENERAL.EXCLUIDAS LAS ACTIVIDADES QUE EXIJA REQUISITOS ESPECIALES ETC... CNAE: 65231.

Company Formation

15/09/1997

Breakdown of Owners' Equity

Registered Capital:

15.376.344,60

Paid up capital:

15.376.344,60

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

21/08/1997

Company Formation

9.015.182

23/07/1998

Increase of Capital

3.005.061

12.020.242

17/10/2006

Increase of Capital

3.356.345

15.376.345

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

SINGLE PARTNER

CORPORACION DE PARTICIPACIONES INDUSTRIAL

25/02/2008

JOINT MANAGER

ROSALES EXPOSITO ALEJANDRO

27/10/2004

ROSALES PEREZ FRANCISCO JAVIER

27/10/2004

PROXY

VIANA SANCHEZ FERMIN

27/04/2010

ROSALES PEREZ ALEJANDRO

03/12/2004

PADILLA LOPEZ ANTONIO

03/12/2004

ROSALES PEREZ FRANCISCO JAVIER

08/03/2001

PIZARRO SIMANCAS MANUEL ANGEL

08/03/2001

GODAYOL MOLIST MIGUEL

30/11/1998

BERND WEINEL

27/09/1997

GELI FERNANDEZ PEÑAFLOR EDUARDO

27/09/1997

ACCOUNTS' AUDITOR / HOLDER

AUDITPLUS MANAGEMENT SLP

28/11/2011

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ALAN JUSTIN KRAUSS

ADMINISTRATOR

05/10/1998

MEMBER OF THE BOARD

26/06/2003

AMARO DE LA TORRE JOSE

PROXY

11/11/2000

AUDITPLUS MANAGEMENT SLP

ACCOUNTS' AUDITOR / HOLDER

28/11/2011

BERND WEINEL

PROXY

27/09/1997

DELOITTE & TOUCHE SA

ACCOUNTS' AUDITOR / HOLDER

28/06/2002

EIZMENDI AGUIRRE ANDONI

MEMBER OF THE BOARD

27/10/2004

ERNST AND YOUNG SL

ACCOUNTS' AUDITOR / HOLDER

04/02/2009

GARCIA JIMENEZ BERNARDO

PROXY

11/11/2000

GELI FERNANDEZ PEÑAFLOR EDUARDO

NON CONSELLOR SECRETARY

11/11/2000

GODAYOL MOLIST MIQUEL

PROXY

11/11/2000

KLAUS BOCH

ADMINISTRATOR

05/10/1998

MEMBER OF THE BOARD

27/10/2004

LOPEZ NAVARRO ANGEL

PROXY

11/11/2000

LOPEZ SANZ MATIAS

PROXY

24/04/1999

MASCO EUROPE S.A.R.L

SINGLE PARTNER

27/10/2004

MASCO GMBH

SINGLE PARTNER

10/09/2003

PADILLA LOPEZ ANTONIO

PROXY

11/11/2000

PROXY

03/12/2004

PIZARRO SIMANCAS MANUEL ANGEL

PROXY

08/03/2001

NON CONSELLOR SECRETARY

27/10/2004

PRICE WATERHOUSE COOPERS AUDITORES S L

ACCOUNTS' AUDITOR / HOLDER

27/12/2006

PRICE WATERHOUSE COOPERS AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

27/01/2005

ACCOUNTS' AUDITOR / HOLDER

26/01/2006

ROCA SAGARRA JOAN

PROXY

09/02/1999

NON CONSELLOR ASSISTANT SECRETARY

09/02/1999

RODRIGUEZ PORRAS ROCIO

PROXY

08/03/2001

PROXY

03/12/2004

PROXY

27/04/2010

ROLAND GRASSBERGER

MEMBER OF THE BOARD

27/10/2004

ROSALES EXPOSITO ALEJANDRO

PRESIDENT

28/06/2002

ROSALES EXPOSOTO ALEJANDRO

MEMBER OF THE BOARD

28/06/2002

ROSALES PEREZ FRANCISCO JAVIER

MEMBER OF THE BOARD

27/10/2004

PROXY

08/03/2001

PRESIDENT

27/10/2004

XICOY CRUELLS MARIONA

NON CONSELLOR ASSISTANT SECRETARY

11/11/2000

Executive board

Post

NIF

Name

ADMINISTRATOR

ALEJANDRO ROSALES EXPOSITO

ADMINISTRATOR

FRANCISCO JAVIER ROSALES PEREZ

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

---

Positive Factors

Adverse Factors

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

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.

GRUPO ALVIC FR MOBILIARIO SL 's borrowing cost is appropriate according to its volume of external financing sources.

The development of the structure of the debt during the last two years indicates a decrease of the debt with credit institutions and trade creditors in respect to all liabilities. The lower the level of debt, the lower the dependence on suppliers capital and the more guarantee will have its financial situation.

Probability of default

> Probabilidad Estimada de Impago para los próximos 12 meses: 0.176 %

> Latest Rating Changes :

Sector in which comparison is carried out :

310 Manufacture of furniture

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 GRUPO ALVIC FR MOBILIARIO SL 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 0.176%.

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 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

References

Link List

ABSORBS TO:

8 Entities

IS ABSORBED BY:

1 Entities

PARTICIPATES IN:

4 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

CORPORACION DE PARTICIPACIONES INDUSTRIALES ALCAJAR SL

MADRID

100

PARTICIPATES IN

GRUPO CORPORATIVO FARO SOCIEDAD LIMITADA

JAEN

EXPLOTACIONES AGRICOLAS LAS ROZAS SOCIEDAD LIMITADA

JAEN

INMOBILIARIA FARO 97 SOCIEDAD LIMITADA EN LIQUIDACION

JAEN

MKIT MODULARES S.L

MADRID

> Other relationships

Relationship

Entity

Province

Shareholding stake

ABSORBS TO

MADETRES SA

BARCELONA

DESARROLLOS MODULARES BARCELONA SL

BARCELONA

OFITRES SA

BARCELONA

ALVIC SA

JAEN

COKIT SA

JAEN

ALVINOR SA

BURGOS

COKIT MADRID SL

MADRID

DESARROLLOS MODULARES SL

SEVILLA

IS ABSORBED BY

CORPORACION DE PARTICIPACIONES INDUSTRIALES ALCAJAR SL

MADRID

Turnover

Total Sales

76.131.064,54

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2013

Normales

July 2014

2012

Normales

August 2013

2011

Normales

September 2012

2010

Normales

October 2011

2009

Normales

September 2010

2008

Normales

October 2009

2007

Normales

August 2008

2006

Normales

October 2007

2005

Normales

July 2006

2004

Normales

July 2005

2003

Normales

July 2004

2002

Normales

July 2003

2001

Normales

July 2002

2000

Normales

August 2001

1999

Normales

July 2000

1998

Normales

September 1999

1997

Normales

July 1998

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 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 using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2013

2012

2011

2010

2009

A) NON-CURRENT ASSETS: 11000

31.295.618,00

28.033.965,00

27.990.492,00

28.909.434,00

23.498.717,00

I. Intangible fixed assets : 11100

10.883.591,00

10.835.960,00

10.849.605,00

10.858.277,00

10.888.083,00

1. Development: 11110

0,00

2. Concessions: 11120

0,00

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

31.181,00

26.252,00

18.885,00

8.316,00

5.281,00

4. Goodwill: 11140

10.783.148,00

5. IT applications: 11150

69.262,00

26.560,00

47.571,00

66.813,00

98.627,00

6. Investigation: 11160

0,00

7. Other intangible fixed assets: 11170

0,00

1.027,00

II. Tangible fixed assets : 11200

19.169.986,00

16.221.073,00

16.892.705,00

17.970.464,00

12.529.940,00

1. Land and buildings: 11210

4.828.497,00

4.809.932,00

5.006.321,00

5.207.819,00

5.406.245,00

2. Technical installations and other tangible fixed assets: 11220

12.762.605,00

10.798.701,00

11.488.319,00

7.552.751,00

6.660.326,00

3. Tangible asset in progress and advances: 11230

1.578.883,00

612.440,00

398.065,00

5.209.894,00

463.370,00

III. Real estate investment: 11300

169.248,00

167.488,00

0,00

1. Land: 11310

169.248,00

167.488,00

0,00

2. Buildings: 11320

0,00

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

0,00

1. Equity instruments: 11410

0,00

2. Credits to businesses: 11420

0,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

6. Other investments: 11460

0,00

V. Long-term financial investments: 11500

809.443,00

80.693,00

1. Equity instruments: 11510

0,00

2. Credits to third parties : 11520

728.750,00

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

80.693,00

6. Other investments: 11560

0,00

VI. Assets for deferred tax : 11600

263.350,00

0,00

VII. Non-current trade debts : 11700

0,00

B) CURRENT ASSETS: 12000

58.869.627,00

52.619.850,00

45.535.749,00

45.091.144,00

44.295.828,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

9.709.736,00

10.080.002,00

9.405.574,00

9.877.985,00

9.070.245,00

1. Commercial: 12210

0,00

2. Primary material and other supplies: 12220

4.735.034,00

4.979.570,00

4.991.909,00

5.350.773,00

4.953.850,00

3. Work in progress: 12230

1.480.678,00

1.447.804,00

1.973.263,00

1.875.877,00

1.834.957,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

1.480.678,00

1.447.804,00

1.973.263,00

1.875.877,00

1.834.957,00

4. Finished goods: 12240

3.494.024,00

3.652.629,00

2.440.402,00

2.651.335,00

2.281.439,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

3.494.024,00

3.652.629,00

2.440.402,00

2.651.335,00

2.281.439,00

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

0,00

6. Advances to suppliers: 12260

0,00

III. Trade debtors and others receivable accounts: 12300

16.101.242,00

14.268.221,00

11.721.330,00

13.629.222,00

14.595.193,00

1. Trade debtors / accounts receivable: 12310

11.982.151,00

10.756.243,00

8.882.565,00

10.605.300,00

11.500.387,00

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

0,00

b) Customers for sales and provisions of services : 12312

11.982.151,00

10.756.243,00

8.882.565,00

10.605.300,00

11.500.387,00

2. Customers, Group companies and associates : 12320

2.700.424,00

2.311.589,00

2.546.837,00

2.794.311,00

2.852.970,00

3. Other accounts receivable: 12330

0,00

4. Personnel: 12340

0,00

5. Assets for deferred tax: 12350

0,00

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

1.418.666,00

1.200.389,00

291.929,00

229.611,00

241.836,00

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

32.044.582,00

27.579.317,00

22.228.926,00

19.222.355,00

18.505.314,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

31.946.465,00

26.243.223,00

21.926.228,00

19.174.092,00

18.410.192,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

98.117,00

1.336.094,00

302.699,00

48.263,00

95.122,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

565.674,00

455.550,00

452.734,00

157.010,00

262.262,00

VII. Cash and other equivalent liquid assets : 12700

448.393,00

236.759,00

1.727.186,00

2.204.571,00

1.862.814,00

1. Treasury: 12710

448.393,00

236.759,00

1.727.186,00

2.204.571,00

1.862.814,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

90.165.244,00

80.653.814,00

73.526.241,00

74.000.578,00

67.794.545,00

ORIGINAL

Liabilities and Net Worth

2013

2012

2011

2010

2009

A) NET WORTH: 20000

57.044.434,00

49.548.763,00

44.441.718,00

39.763.922,00

36.006.425,00

A-1) Shareholders' equity: 21000

55.928.402,00

49.295.102,00

44.155.715,00

39.455.432,00

35.655.739,00

I. Capital: 21100

15.376.345,00

1. Registered capital : 21110

15.376.345,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

3.616.371,00

III. Reserves: 21300

30.302.387,00

25.163.000,00

20.462.717,00

16.663.024,00

14.038.988,00

1. Legal y estatutarias: 21310

3.103.898,00

2.589.959,00

2.119.931,00

1.739.962,00

1.477.558,00

2. Other reserves: 21320

27.198.489,00

22.573.041,00

18.342.786,00

14.923.062,00

12.561.430,00

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

6.633.300,00

5.139.387,00

4.700.283,00

3.799.693,00

2.624.036,00

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

1.116.032,00

253.661,00

286.003,00

308.490,00

350.686,00

B) NON-CURRENT LIABILITIES: 31000

6.248.813,00

8.711.724,00

10.155.679,00

12.476.444,00

13.868.104,00

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

5.586.778,00

8.411.693,00

9.834.204,00

12.137.589,00

13.502.640,00

1. Liabilities and other securities: 31210

0,00

12.137.589,00

0,00

2. Amounts owed to credit institutions: 31220

5.586.778,00

8.411.693,00

9.834.204,00

0,00

13.096.399,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

406.241,00

5. Other financial liabilities : 31250

0,00

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

0,00

IV. Liabilities for deferred tax: 31400

662.035,00

300.031,00

321.475,00

338.854,00

365.463,00

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

26.871.998,00

22.393.327,00

18.928.844,00

21.760.212,00

17.920.015,00

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

0,00

II. Short-term provisions: 32200

0,00

III. Short-term creditors : 32300

2.821.603,00

2.604.402,00

2.310.268,00

2.160.173,00

3.122.626,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

2.821.603,00

2.604.402,00

2.310.268,00

2.160.173,00

2.134.059,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

0,00

988.567,00

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

5.779.453,00

3.189.035,00

1.247.782,00

1.824.971,00

0,00

V. Trade creditors and other accounts payable: 32500

16.863.742,00

15.281.617,00

14.278.450,00

16.784.734,00

13.625.161,00

1. Suppliers: 32510

11.586.172,00

10.518.491,00

8.776.788,00

8.867.438,00

9.731.722,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

11.586.172,00

10.518.491,00

8.776.788,00

8.867.438,00

9.731.722,00

2. Suppliers, Group companies and associates: 32520

1.659.662,00

1.421.617,00

1.221.438,00

1.137.767,00

1.036.602,00

3. Other creditors: 32530

3.286.132,00

3.022.587,00

3.938.195,00

6.456.928,00

2.588.251,00

4. Personnel (remuneration due): 32540

0,00

-2.440,00

5.164,00

1.346,00

5. Liabilities for current tax: 32550

0,00

6. Otras deudas con las Administraciones Públicas. : 32560

331.777,00

318.921,00

344.469,00

317.437,00

267.240,00

7. Advances from clients: 32570

0,00

VI. Short-term accruals: 32600

1.407.199,00

1.318.273,00

1.092.343,00

990.334,00

1.172.228,00

VII. Special short-term debts : 32700

0,00

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

90.165.244,00

80.653.814,00

73.526.241,00

74.000.578,00

67.794.545,00

ORIGINAL

Profit and Loss

2013

2012

2011

2010

2009

1. Net turnover: 40100

76.131.065,00

64.806.085,00

64.267.323,00

62.247.236,00

56.557.644,00

a) Sales: 40110

75.192.089,00

63.972.004,00

63.922.694,00

61.900.801,00

56.276.593,00

b) Rendering of services: 40120

938.976,00

834.080,00

344.629,00

346.435,00

281.051,00

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

60.519,00

686.768,00

-113.547,00

410.816,00

-1.687.215,00

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

0,00

4. Supplies : 40400

-41.548.893,00

-35.441.163,00

-36.074.925,00

-35.370.684,00

-30.505.062,00

a) Stock consumption: 40410

-1.303.874,00

-1.122.766,00

-1.053.980,00

-639.873,00

-422.738,00

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

-39.880.039,00

-33.760.825,00

-34.672.762,00

-34.118.595,00

-30.084.062,00

c) Works carried out by other companies: 40430

-415.326,00

-340.296,00

-317.621,00

-482.647,00

-331.622,00

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

50.346,00

-217.276,00

-30.561,00

-129.570,00

333.359,00

5. Other operating income: 40500

22.612,00

34.432,00

46.196,00

30.953,00

32.344,00

a) Auxiliary income and other from current management: 40510

0,00

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

22.612,00

34.432,00

46.196,00

30.953,00

32.344,00

6. Personnel costs: 40600

-9.054.958,00

-8.532.438,00

-8.216.663,00

-9.064.993,00

-8.493.177,00

a) Wages, salaries et al.: 40610

-6.847.113,00

-6.466.723,00

-6.339.422,00

-6.901.192,00

-6.492.979,00

b) Social security costs: 40620

-2.207.844,00

-2.065.715,00

-1.877.242,00

-2.163.801,00

-2.000.197,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-13.914.306,00

-11.648.752,00

-11.322.842,00

-11.621.053,00

-9.604.958,00

a) External services: 40710

-13.732.361,00

-11.266.005,00

-11.180.978,00

-11.094.252,00

-9.452.035,00

b) Taxes: 40720

-132.968,00

-131.380,00

-120.906,00

-126.247,00

-139.535,00

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

-48.977,00

-251.367,00

-20.958,00

-400.555,00

-13.388,00

d) Other current management expenditure : 40740

0,00

8. Amortisation of fixed assets: 40800

-2.926.109,00

-2.665.804,00

-2.573.611,00

-1.832.807,00

-2.275.119,00

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

245.358,00

46.202,00

32.124,00

60.280,00

40.857,00

10. Excess provisions : 41000

0,00

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

32.445,00

11.247,00

11.481,00

20.923,00

-4.350,00

a) Impairment and losses : 41110

0,00

20.923,00

0,00

b) Results for transfers and other : 41120

32.445,00

11.247,00

11.481,00

0,00

-4.350,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

-10.369,00

0,00

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

9.037.364,00

7.296.577,00

6.055.537,00

4.880.671,00

4.060.965,00

14. Financial income : 41400

100.207,00

57.178,00

183.844,00

109.954,00

36.314,00

a) Of shares in equity instruments : 41410

100.207,00

57.178,00

183.844,00

0,00

34.626,00

a 1) In Group companies and associates: 41411

68.503,00

56.399,00

173.674,00

0,00

34.626,00

a 2) In third parties: 41412

31.704,00

779,00

10.170,00

0,00

b) From negotiable securities and other financial instruments : 41420

0,00

109.954,00

1.688,00

b 1) From Group companies and associates : 41421

0,00

90.055,00

0,00

b 2) From third parties : 41422

0,00

19.899,00

1.688,00

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

0,00

15. Financial expenditure: 41500

-196.807,00

-301.356,00

-320.021,00

-327.827,00

-832.882,00

a) Amounts owed to Group companies and associates : 41510

-196.807,00

0,00

b) For debts with third parties : 41520

0,00

-301.356,00

-320.021,00

-327.827,00

-832.882,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

-253.757,00

a) Trading book and other : 41610

0,00

-253.757,00

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

0,00

17. Exchange rate differences : 41700

33.776,00

33.301,00

55.734,00

1.429,00

2.092,00

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

0,00

a) Impairment and losses : 41810

0,00

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

-62.824,00

-210.878,00

-80.443,00

-216.445,00

-1.048.233,00

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

8.974.540,00

7.085.700,00

5.975.095,00

4.664.226,00

3.012.732,00

20. Income taxes: 41900

-2.341.241,00

-1.946.313,00

-1.274.811,00

-864.533,00

-388.696,00

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

6.633.300,00

5.139.387,00

4.700.283,00

3.799.693,00

2.624.036,00

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

0,00

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

6.633.300,00

5.139.387,00

4.700.283,00

3.799.693,00

2.624.036,00

> 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:

31.032.268,00

28.033.965,00

27.990.492,00

28.909.434,00

23.498.717,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

10.883.591,00

10.835.960,00

10.849.605,00

10.858.277,00

10.888.083,00

1. Research and development costs:

0,00

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

31.181,00

26.252,00

18.885,00

8.316,00

5.281,00

3. Goodwill:

10.783.148,00

4. Key money paid for premises:

0,00

5. Software:

69.262,00

26.560,00

47.571,00

66.813,00

98.627,00

6. Assets under capital leases:

0,00

7. Payments on account:

0,00

1.027,00

8. Provisions:

0,00

9. Accumulated depreciation:

0,00

III. Tangible fixed assets:

19.339.233,00

16.388.561,00

17.060.193,00

17.970.464,00

12.529.940,00

1. Land and construction:

4.997.745,00

4.977.421,00

5.173.809,00

5.207.819,00

5.406.245,00

2. Technical installations and machinery:

8.927.358,00

7.553.620,00

8.036.003,00

5.283.100,00

4.658.854,00

3. Other installations, tools and furniture:

3.241.688,00

2.742.859,00

2.918.021,00

1.918.391,00

1.691.716,00

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

1.578.883,00

612.440,00

398.065,00

5.209.894,00

463.370,00

5. Other tangible assets:

593.559,00

502.222,00

534.295,00

351.261,00

309.756,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

809.443,00

80.693,00

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. Long-term securities portfolio:

0,00

6. Other receivables:

728.750,00

0,00

7. Long term guarantees and deposits:

80.693,00

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:

59.132.977,00

52.619.850,00

45.535.749,00

45.091.144,00

44.295.828,00

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

0,00

II. Stocks:

9.709.736,00

10.080.002,00

9.405.574,00

9.877.985,00

9.070.245,00

1. Goods for resale:

0,00

2. Raw materials and other consumables:

4.735.034,00

4.979.570,00

4.991.909,00

5.350.773,00

4.953.850,00

3. Goods in process and semifinished ones:

1.480.678,00

1.447.804,00

1.973.263,00

1.875.877,00

1.834.957,00

4. Finished products:

3.494.024,00

3.652.629,00

2.440.402,00

2.651.335,00

2.281.439,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

0,00

7. Provisions:

0,00

III. Debtors:

16.364.591,00

14.268.221,00

11.721.330,00

13.629.222,00

14.595.193,00

1. Trade debtors / accounts receivable:

11.982.151,00

10.756.243,00

8.882.565,00

10.605.300,00

11.500.387,00

2. Accounts receivable, Group companies:

2.700.424,00

2.311.589,00

2.546.837,00

2.794.311,00

2.852.970,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

0,00

5. Staff:

0,00

6. Public bodies:

1.682.016,00

1.200.389,00

291.929,00

229.611,00

241.836,00

7. Provisions:

0,00

IV. Short-term investments:

32.044.582,00

27.579.317,00

22.228.926,00

19.222.355,00

18.505.314,00

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:

0,00

6. Other receivables:

31.946.465,00

26.243.223,00

21.926.228,00

19.174.092,00

18.410.192,00

7. Shor term guarantees and deposits:

98.117,00

1.336.094,00

302.699,00

48.263,00

95.122,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

448.393,00

236.759,00

1.727.186,00

2.204.571,00

1.862.814,00

VII. Prepayments and accrued income:

565.674,00

455.550,00

452.734,00

157.010,00

262.262,00

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

90.165.244,00

80.653.814,00

73.526.241,00

74.000.578,00

67.794.545,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2013

2012

2011

2010

2009

A) EQUITY:

56.263.211,00

49.371.200,00

44.241.516,00

39.547.979,00

36.167.186,00

I. Subscribed capital:

15.376.345,00

II. Share premium:

3.616.371,00

III. Revaluation reserves:

0,00

IV. Reserves:

30.637.196,00

25.239.098,00

20.548.517,00

16.755.571,00

14.550.435,00

1. Legal reserve:

3.103.898,00

2.589.959,00

2.119.931,00

1.739.962,00

1.477.558,00

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:

27.533.298,00

22.649.139,00

18.428.587,00

15.015.609,00

13.072.877,00

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:

6.633.300,00

5.139.387,00

4.700.283,00

3.799.693,00

2.624.036,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

781.223,00

177.563,00

200.202,00

215.943,00

245.480,00

1. Capital grants:

781.223,00

177.563,00

200.202,00

215.943,00

245.480,00

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:

6.248.813,00

8.711.724,00

10.155.679,00

12.476.444,00

13.461.863,00

I. Issued debentures and other marketable securities:

0,00

12.137.589,00

0,00

1. Non-convertible debentures:

0,00

12.137.589,00

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

II. Amounts owed to credit institutions:

5.586.778,00

8.411.693,00

9.834.204,00

0,00

13.096.399,00

1. Loans and other liabilities:

5.586.778,00

8.411.693,00

9.834.204,00

0,00

13.096.399,00

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:

662.035,00

300.031,00

321.475,00

338.854,00

365.463,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

662.035,00

300.031,00

321.475,00

338.854,00

365.463,00

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:

26.871.998,00

22.393.327,00

18.928.844,00

21.760.212,00

17.920.015,00

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:

2.821.603,00

2.604.402,00

2.310.268,00

2.160.173,00

2.134.059,00

1. Loans and other liabilities:

2.821.603,00

2.604.402,00

2.310.268,00

2.160.173,00

2.134.059,00

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:

7.439.115,00

4.610.652,00

2.469.220,00

2.962.738,00

1.036.602,00

1. Amounts owed to group companies:

7.439.115,00

4.610.652,00

2.469.220,00

2.962.738,00

1.036.602,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

14.872.303,00

13.541.079,00

12.714.983,00

15.324.366,00

12.319.973,00

1. Advanced payments from customers:

0,00

2. Amounts owed for purchases of goods or services:

14.872.303,00

13.541.079,00

12.714.983,00

15.324.366,00

12.319.973,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

331.777,00

318.921,00

342.030,00

322.601,00

1.257.153,00

1. Public bodies:

331.777,00

318.921,00

344.469,00

317.437,00

267.240,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

0,00

988.567,00

4. Wages and salaries payable:

0,00

-2.440,00

5.164,00

1.346,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

1.407.199,00

1.318.273,00

1.092.343,00

990.334,00

1.172.228,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

90.165.244,00

80.653.814,00

73.526.241,00

74.000.578,00

67.794.545,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2013

2012

2011

2010

2009

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

69.992.681,00

60.535.826,00

59.896.420,00

59.060.976,00

54.045.215,00

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

0,00

113.547,00

0,00

1.687.215,00

A.2. Supplies:

41.599.239,00

35.223.887,00

36.044.364,00

35.241.115,00

30.838.422,00

a) Stock consumption:

1.303.874,00

1.122.766,00

1.053.980,00

639.873,00

422.738,00

b) Consumption of raw materials and miscellaneous consumable ones:

39.880.039,00

33.760.825,00

34.672.762,00

34.118.595,00

30.084.062,00

c) Miscellaneous external expenditure:

415.326,00

340.296,00

317.621,00

482.647,00

331.622,00

A.3. Staff costs:

9.054.958,00

8.532.438,00

8.216.663,00

9.064.993,00

8.493.177,00

a) Wages, salaries et al.:

6.847.113,00

6.466.723,00

6.339.422,00

6.901.192,00

6.492.979,00

b) Social security costs:

2.207.844,00

2.065.715,00

1.877.242,00

2.163.801,00

2.000.197,00

A.4. Depreciation expense:

2.926.109,00

2.665.804,00

2.573.611,00

1.832.807,00

2.275.119,00

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

-1.370,00

468.643,00

51.519,00

530.124,00

-319.972,00

a) Stock provision variation:

-50.346,00

217.276,00

30.561,00

129.570,00

-333.359,00

b) Variation in provision and bad debt losses:

48.977,00

251.367,00

20.958,00

400.555,00

13.388,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

13.865.329,00

11.397.384,00

11.301.883,00

11.220.499,00

9.591.570,00

a) External services:

13.732.361,00

11.266.005,00

11.180.978,00

11.094.252,00

9.452.035,00

b) Taxes:

132.968,00

131.380,00

120.906,00

126.247,00

139.535,00

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):

8.769.930,00

7.239.128,00

6.011.931,00

4.799.467,00

4.024.458,00

A.7. Financial and similar charges:

196.807,00

301.356,00

320.021,00

327.827,00

832.882,00

a) Due to liabilities with companies of the group:

196.807,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

0,00

301.356,00

320.021,00

327.827,00

832.882,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

253.757,00

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):

0,00

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

8.707.106,00

7.028.250,00

5.931.489,00

4.583.022,00

2.976.225,00

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

0,00

-20.923,00

0,00

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

0,00

4.350,00

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

0,00

A.13. Extraordinary expenses:

10.369,00

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):

267.434,00

57.449,00

43.606,00

81.204,00

36.507,00

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

8.974.540,00

7.085.700,00

5.975.095,00

4.664.226,00

3.012.732,00

A.15. Corporation tax:

2.341.241,00

1.946.313,00

1.274.811,00

864.533,00

388.696,00

A.16. Miscellaneous taxes:

0,00

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

6.633.300,00

5.139.387,00

4.700.283,00

3.799.693,00

2.624.036,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2013

2012

2011

2010

2009

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

76.625.981,00

65.675.212,00

64.596.703,00

62.860.668,00

56.669.251,00

B.1. Net total sales:

76.131.065,00

64.806.085,00

64.267.323,00

62.247.236,00

56.557.644,00

a) Sales:

76.682.773,00

65.240.250,00

65.189.962,00

63.127.985,00

57.392.277,00

b) Rendering of services:

938.976,00

834.080,00

344.629,00

346.435,00

281.051,00

Returns and Rappel on sales:

-1.490.684,00

-1.268.246,00

-1.267.268,00

-1.227.184,00

-1.115.684,00

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

60.519,00

686.768,00

0,00

410.816,00

0,00

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

0,00

B.4. Miscellaneous operating income:

22.612,00

34.432,00

46.196,00

30.953,00

32.344,00

a) Auxiliary income and other from current management:

0,00

b) Grants:

22.612,00

34.432,00

46.196,00

30.953,00

32.344,00

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:

100.207,00

57.178,00

183.844,00

0,00

34.626,00

a) In companies of the group:

68.503,00

56.399,00

173.674,00

0,00

34.626,00

b) In associated companies:

0,00

c) Third parties:

31.704,00

779,00

10.170,00

0,00

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:

0,00

109.954,00

1.688,00

a) From companies of the group:

0,00

90.055,00

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

0,00

19.899,00

1.688,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

33.776,00

33.301,00

55.734,00

1.429,00

2.092,00

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

62.824,00

210.878,00

80.443,00

216.445,00

1.048.233,00

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:

32.445,00

11.247,00

11.481,00

0,00

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

0,00

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

245.358,00

46.202,00

32.124,00

60.280,00

40.857,00

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):

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

8.974.540,00

7.085.700,00

5.975.095,00

4.664.226,00

3.012.732,00

2. Results adjustments.: 61200

2.711.130,00

2.819.232,00

2.610.448,00

1.968.049,00

2.953.485,00

a) Fixed Assets Amortization (+).: 61201

2.926.109,00

2.665.804,00

2.573.611,00

1.832.807,00

2.275.119,00

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

0,00

-333.359,00

d) Allocation of grants (-).: 61204

-245.358,00

-46.202,00

-32.124,00

-60.280,00

-40.857,00

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

-32.445,00

-11.247,00

-11.481,00

-20.923,00

4.350,00

g) Financial income (-).: 61207

-100.207,00

-57.178,00

-183.844,00

-109.954,00

-36.314,00

h) Financial Expenses (+). : 61208

196.807,00

301.356,00

320.021,00

327.827,00

832.882,00

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

-33.776,00

-33.301,00

-55.734,00

-1.429,00

-2.092,00

j) Reasonable Value Variation in Financial Instruments (+/-).: 61210

0,00

253.757,00

3. Changes in current capital equity.: 61300

-4.268.438,00

-7.353.014,00

-3.326.265,00

2.081.226,00

956.879,00

a) Stock (+/-).: 61301

370.266,00

-674.429,00

472.412,00

-807.740,00

3.262.742,00

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

-1.833.021,00

-2.546.891,00

1.907.892,00

965.971,00

4.801.845,00

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

-4.575.389,00

-5.353.207,00

-3.302.295,00

-611.789,00

-8.387.134,00

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

1.582.125,00

1.003.167,00

-2.506.283,00

3.159.572,00

325.705,00

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

88.926,00

225.930,00

102.010,00

-181.894,00

660.548,00

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

98.654,00

-7.584,00

0,00

-442.894,00

293.173,00

4. Other cash flows for operating activities.: 61400

-2.437.840,00

-2.190.491,00

-1.418.730,00

-1.054.278,00

-1.185.264,00

a) Interest payments (-). : 61401

-196.807,00

-301.356,00

-320.021,00

-327.827,00

-832.882,00

c) Interest collection (+). : 61403

100.207,00

57.178,00

183.844,00

109.954,00

36.314,00

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

-2.341.241,00

-1.946.313,00

-1.282.553,00

-836.405,00

-388.696,00

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

4.979.392,00

361.427,00

3.840.547,00

7.659.222,00

5.737.832,00

6. Payments for investment (-).: 62100

-5.926.402,00

-2.720.503,00

-1.654.668,00

-7.243.525,00

-878.971,00

a) Companies of the group and affiliates. : 62101

-208.949,00

0,00

b) Intangible fixed assets. : 62102

-73.004,00

-15.685,00

-28.540,00

-19.405,00

-26.918,00

c) Fixed assets. : 62103

-5.642.689,00

-1.976.068,00

-1.458.640,00

-7.224.120,00

-852.053,00

d) Real estate investment. : 62104

-1.759,00

0,00

-167.488,00

0,00

e) Other financial assets. : 62105

0,00

-728.750,00

0,00

7. Divestment payment collection (+). : 62200

34.435,00

22.474,00

11.481,00

20.923,00

8.617,00

c) Fixed assets. : 62203

34.435,00

22.474,00

11.481,00

20.923,00

8.617,00

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

-5.891.967,00

-2.698.030,00

-1.643.187,00

-7.222.602,00

-870.354,00

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

1.107.729,00

0,00

129.953,00

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

1.107.729,00

0,00

129.953,00

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

-17.296,00

812.876,00

-2.730.479,00

-96.291,00

-3.183.820,00

a) Issuance : 63201

2.590.418,00

1.941.252,00

0,00

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

2.590.418,00

1.941.252,00

0,00

b) Repayment and amortization of : 63207

-2.607.714,00

-1.128.377,00

-2.730.479,00

-96.291,00

-3.183.820,00

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

-2.607.714,00

-1.128.377,00

-2.153.290,00

-932.696,00

-2.839.986,00

3. Debts incurred with companies of the group and affiliates (-). : 63210

0,00

-577.189,00

0,00

5. Other debts (-). : 63212

0,00

836.405,00

-343.833,00

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

0,00

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

1.090.433,00

812.876,00

-2.730.479,00

-96.291,00

-3.053.867,00

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

33.776,00

33.301,00

55.734,00

1.429,00

2.092,00

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

211.634,00

-1.490.427,00

-477.386,00

341.757,00

1.815.704,00

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

236.759,00

1.727.186,00

2.204.571,00

1.862.814,00

47.110,00

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

448.393,00

236.759,00

1.727.186,00

2.204.571,00

1.862.814,00

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:

0,00 %

0,04 %

-0,02 %

0,01 %

112,09 %

409,54 %

EBITDA over Sales:

15,36 %

11,37 %

15,28 %

9,28 %

0,52 %

22,56 %

Cash Flow Yield:

0,00 %

0,02 %

-0,02 %

0,00 %

112,70 %

Profitability

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

15,79 %

7,08 %

13,96 %

5,30 %

13,08 %

33,62 %

Total economic profitability:

10,17 %

3,88 %

9,16 %

2,53 %

11,06 %

53,08 %

Financial profitability:

11,86 %

4,88 %

10,43 %

1,41 %

13,76 %

245,19 %

Margin:

11,88 %

6,55 %

11,25 %

4,89 %

5,58 %

33,88 %

Mark-up:

11,80 %

4,60 %

10,93 %

1,68 %

7,97 %

174,70 %

Solvency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,02

0,16

0,01

0,12

57,82

38,11

Acid Test:

1,81

0,84

1,88

0,85

-3,78

-2,22

Working Capital / Investment:

0,35

0,01

0,37

0,03

-5,31

-57,91

Solvency:

2,20

1,15

2,35

1,18

-6,35

-2,19

Indebtedness

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,58

1,48

0,63

1,63

-7,51

-9,12

Borrowing Composition:

0,23

1,20

0,39

1,03

-40,23

15,75

Repayment Ability:

156,50

30,75

-20,87

159,65

849,89

-80,74

Warranty:

2,72

1,68

2,59

1,62

4,99

3,88

Generated resources / Total creditors:

0,29

0,08

0,26

0,07

11,32

25,55

Efficiency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

2,29

1,95

2,16

1,73

6,05

12,75

Turnover of Collection Rights :

4,73

5,41

4,54

4,82

4,08

12,18

Turnover of Payment Entitlements:

3,29

3,72

3,13

3,52

5,31

5,80

Stock rotation:

6,94

8,53

5,71

6,60

21,44

29,19

Assets turnover:

1,33

1,08

1,24

1,08

7,11

-0,20

Borrowing Cost:

0,59

3,00

0,97

2,95

-38,67

1,75

> 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:

0,00 %

-0,02 %

-0,01 %

0,01 %

3,21 %

EBITDA over Sales:

15,36 %

15,28 %

13,36 %

10,65 %

11,14 %

Cash Flow Yield:

0,00 %

-0,02 %

-0,01 %

0,00 %

2,68 %

Profitability

2013

2012

2011

2010

2009

Operating economic profitability:

15,79 %

13,96 %

11,82 %

8,92 %

8,25 %

Total economic profitability:

10,17 %

9,16 %

8,56 %

6,75 %

5,67 %

Financial profitability:

11,86 %

10,43 %

10,64 %

9,63 %

7,36 %

Margin:

11,88 %

11,25 %

9,42 %

7,84 %

7,18 %

Mark-up:

11,80 %

10,93 %

9,29 %

7,49 %

-1,85 %

Solvency

2013

2012

2011

2010

2009

Liquidity:

0,02

0,01

0,09

0,10

Acid Test:

1,81

1,88

1,61

1,95

Working Capital / Investment:

0,35

0,37

0,36

0,32

0,39

Solvency:

2,20

2,35

2,41

2,07

2,47

Indebtedness

2013

2012

2011

2010

2009

Indebtedness level:

0,58

0,63

0,65

0,86

0,88

Borrowing Composition:

0,23

0,39

0,54

0,57

0,77

Repayment Ability:

156,50

-20,87

-60,92

100,18

-14,84

Warranty:

2,72

2,59

2,53

2,16

2,13

Generated resources / Total creditors:

0,29

0,26

0,25

0,17

0,14

Efficiency

2013

2012

2011

2010

2009

Productivity:

2,29

2,16

2,04

1,73

1,74

Turnover of Collection Rights :

4,73

4,54

5,49

4,57

3,88

Turnover of Payment Entitlements:

3,29

3,13

3,31

2,82

Stock rotation:

6,94

5,71

6,20

5,82

5,80

Assets turnover:

1,33

1,24

1,26

1,14

1,15

Borrowing Cost:

0,59

0,97

1,10

0,96

2,62

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

LAS PROVINCIAS

13/06/2014

Alvic amuebla Rusia

Companies related

Alimarket

09/12/2013

Alvic inaugura nuevo 'center'

Companies related

Public Tenders and Works Won

Organisation that calls the tender:

DEPARTMENT OF ECONOMICS AND KNOWLEDGE OF Catalonia

Objective of Tender:

The framework agreement aims at the supply and installation of furniture both new acquisition and replacement of furniture. To this end, the furniture items newly acquired series, brands or models of office furniture that can be purchased on derivatives contracts for procurement departments of the Government Administration and affiliated entities were selected by analyzing the characteristics concrete offers the empres

Date Awarded:

17/12/2013

Cost:

Importe compartido entre distintos Contratistas

Detail of Subsidies appearing in Balances Memories

Entity

AGENCIA IDEA JUNTA DE ANDALUCIA

Subsidy Concept

subvención de capital.

Status

CONCEDIDA

Amount Granted

1.101.519,97

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

892.113,36

Entity

INSTITUTO DE FOMENTO DE ANDALUCIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

484.476,33

Entity

AGENCIA IDEA JUNTA DE ANDALUCIA

Subsidy Concept

subvención de capital.

Status

CONCEDIDA

Amount Granted

375.796,49

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

180.483,93

Entity

GENERALITAT DE CATALUNYA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

146.299,42

Entity

GENERALITAT DE CATALUNYA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

99.162,24

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital

Status

CONCEDIDA

Amount Granted

892.113,36

Notes

El importe es el concedido

Entity

INSTITUTO DE FOMENTO DE ANDALUCIA

Subsidy Concept

Subvención de capital

Status

CONCEDIDA

Amount Granted

484.476,33

Notes

El importe es el concedido

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital

Status

CONCEDIDA

Amount Granted

180.483,93

Notes

El importe es el concedido

Entity

GENERALITAT DE CATALUNYA

Subsidy Concept

Subvención de capital

Status

CONCEDIDA

Amount Granted

146.299,42

Notes

El importe es el concedido

Entity

GENERALITAT DE CATALUNYA

Subsidy Concept

Subvención de capital

Status

CONCEDIDA

Amount Granted

99.162,24

Notes

El importe es el concedido

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

203.080,49

Notes

La subvención es para maquinaria concedida el 02/08/1997

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

159.899,27

Notes

La subvención es para maquinaria concedida el 28/07/1995

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

86.470,54

Notes

La subvención es para maquinaria concedida el 20/06/1996

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

80.683,51

Notes

La subvención es para maquinaria concedida el 29/06/1998

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

68.671,87

Notes

La subvención es para maquinaria e instalaciones concedida el 15/10/1997

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital. Subvención para terrenos, obra civil, bienes de equipo, instalaciones y proyectos.

Status

CONCEDIDA

Amount Granted

892.113,36

Entity

INSTITUTO DE FOMENTO DE ANDALUCIA

Subsidy Concept

Subvención de capital. Subvención para terrenos, obra civil, bienes de equipo, instalaciones y proyectos.

Status

CONCEDIDA

Amount Granted

484.476,33

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital. La subvención es para maquinaria.

Status

CONCEDIDA

Amount Granted

203.080,49

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de capital. La subvención es para obra civil, bienes de equipo, instalaciones y proyectos.

Status

CONCEDIDA

Amount Granted

180.483,93

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

Subvención de La subvención es para maquinaria.

Status

CONCEDIDA

Amount Granted

159.899,27

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital. La subvención es para maquinaria.

Status

CONCEDIDA

Amount Granted

86.470,54

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital. La subvención es para maquinaria.

Status

CONCEDIDA

Amount Granted

80.683,51

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

Subvención de capital. La subvención es para maquinaria e instalaciones.

Status

CONCEDIDA

Amount Granted

68.671,87

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

TERRENOS, OBRA CIVIL, BIENES DE EQUIPO, INSTALACIONES Y PROYECTOS.

Amount Granted

892.113,36

Entity

INSTITUTO DE FOMENTO DE ANDALUCIA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

TERRENOS, OBRA CIVIL, BIENES DE EQUIPO, INSTALACIONES Y PROYECTOS

Amount Granted

484.476,33

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

MAQUINARIA

Amount Granted

203.080,49

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

OBRA CIVIL, BIENES DE EQUIPO, INSTALACIONES Y PROYECTOS.

Amount Granted

180.483,93

Entity

MINISTERIO DE ECONOMIA Y HACIENDA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

MAQUINARIA

Amount Granted

159.899,27

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

MAQUINARIA

Amount Granted

86.470,54

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

MAQUINARIA

Amount Granted

80.683,51

Entity

JUNTA DE ANDALUCIA

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

MAQUINARIA E INSTALACIONES

Amount Granted

68.671,87

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

BIENES DE EQUIPO E INSTALACIONES

Amount Granted

5.362.000,00

Duration of the Subsidy

1993

Notes

UNA SUBVENCION CONCEDIDA DEL MINISTERIO DE ECONOMIA Y HACIENDA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

PARA TERRENOS, OBRA CIVIL, Y BIENES DE EQUIPO

Dossier

1996

Amount Granted

2.912.000,00

Notes

UNA SUBVENCION DEL INSTITUTO DE FOMENTO DE ANDALUCIA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

PARA UNA MAQUINARIA

Dossier

1997

Amount Granted

1.221.000,00

Notes

UNA SUBVENCION CONCEDIDA DE LA JUNTA DE ANDALUCIA.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

PARA UNA OBRA CIVIL Y BIENES DE EQUIPO

Dossier

1997

Amount Granted

1.085.000,00

Notes

UNA SUBVENCION DEL MINISTERIO DE ECONOMIA Y HACIENDA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCIÓN DE CAPITAL

Status

CONCEDIDA

Project

BIENES DE EQUIPO E INSTALACIONES

Amount Granted

961.000,00

Duration of the Subsidy

1995

Notes

UNA SUBVENCION CONCEDIDA POR EL MINISTERIO DE ECONOMIA Y HACIENDA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

BIENES DE EQUIPO E INSTALACIONES

Dossier

1996

Amount Granted

848.000,00

Notes

UNA SUBVENCION DE LA JUNTA DE ANDALUCIA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

PROYECTO PARA UNA MAQUINARIA

Dossier

1996

Amount Granted

520.000,00

Notes

UNA SUBVENCION CONCEDIDA DE LA JUNTA DE ANDALUCIA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

PARA MAQUINARIA

Dossier

1998

Amount Granted

485.000,00

Notes

UNA SUBVENCION DE LA JUNTA DE ANDALUCIA

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION DE CAPITAL

Status

CONCEDIDA

Project

BIENES DE EQUIPO E INSTALACIONES

Dossier

1997

Amount Granted

412.000,00

Notes

UNA SUBVENCION CONCEDIDA DE LA JUNTA DE ANDALUCIA

Research Summary

Large size company dedicated to the production of panels and furniture components, which has been operating for several years without incidents.

Sources

Registry of Commerce's Official Gazette. Own and external data bases Company References

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.87
UK Pound	1	Rs.99.63
Euro	1	Rs.78.23

INFORMATION DETAILS

Analysis Done by :	RAS

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

Branch Offices

Number of Employees

Chronological Summary

Main Historic Changes

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

Result of query submitted to the R.A.I. (Spanish Bad Debt Register) on LEGAL CLAIMS

References

Turnover

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

Sources

Unit