MIRA INFORM REPORT

 

 

Report No. :

319524

Report Date :

25.04.2015

 

IDENTIFICATION DETAILS

 

Name :

ISKRA, D.D.

 

 

Registered Office :

Stegne 21 1000 Ljubljana

 

 

Country :

Slovenia

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

27.12.1974

 

 

Com. Reg. No.:

10511800

 

 

Legal Form :

Joined stocked Company

 

 

Line of Business :

Manufacture of electricity distribution and control apparatus

 

 

No. of Employee :

1180

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Slovenia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

SLOVENIA ECONOMIC OVERVIEW

 

With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe. Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Yield-seeking bond investors’ strong demand for Slovenian debt helped the government in 2013-14 to continue to finance itself independently on international markets. The government has embarked on a program of state asset sales intended to bolster investor confidence in the economy, which in 2014 contracted 1.1%, its third-year of recession.

 

Source : CIA

 

 

Company identification

 

ISKRA, D.D.

Phone

01 5131010

Stegne 21

Telefax

01 5111532

1000 Ljubljana

E-Mail

iskra@iskra.eu

Slovenia

Web

www.iskra.eu

 

Crefo Nr.

9270005680

Registration:

Ljubljana

Statistical Nr.

5185726

Registration Nr.

10511800

Tax Nr.

SI13278088

Status

Active

 

 

Economic situation

 

Business connection

Business connection appear premissable

Terms of payment

No complaints, but occasional delays

 

 

Basic information

 

LEGAL FORM

 

Joined stocked Company

 

 

FOUNDED

 

27/12/1974 as

19/12/1990 as d.o.o. - Limited liability company (Ltd.)

22/06/1998 as Joined stocked Company

 

Last entry on 15.01.2015

 

On 18.9.2014 change of company name from Iskra Sistemi, d.d. into \

ISKRA, d.d.

 

on 2.10.2014 incorporation of the company MAOS, d.o.o.

on 18.9.2014 incorporation of the company ISKRA, d.d. (Co.Nu.5330424)

on 21.6.2012 incorporation of the company ISKRA MIS, d.d.

on 7.10.2011 incorporation of the company ORIA, d.o.o.

on 12.8.2011 incorporation of the company ISKRA INVEST, d.d.

in year 2005 incorporation of the company ISKRA TRANSMISSION d.d.

on 7.10.2002 incorporation of the company ISKRA-SYSEN D.D. LJUBLJANA

 

 

REGISTRATION

 

22/06/1998, Ljubljana, 10511800

Statistical Nr.: 5185726

Tax Nr.: SI13278088

 

 

OWNERS AND CAPITAL

 

Crefo Nr.

Name / Address / Status

From

Share

Head shareholders

9270008604

Dusan Sesok

Opekarniska ulica 43, 1235 Radomlje Slovenia

 

53,4 %

9270026818

Joze Godec

Ulica Franca Nebca 5, 1000 Ljubljana Slovenia

 

41,12%

 

12 Private persons

 

3,7 %

9270031602

Irena Peternel

Poljce 19a, 4275 Begunje na Gorenjskem Slovenia

 

1,78 %

 

 

REGISTERED CAPITAL

 

Date

Currency

Value

 

 

 

EUR

 

28.065.567,31

 

On 21.06.2012 capital increase for EUR 17.019.900,42

On 12.08.2011 capital increase for EUR 3.296.600,41

On 27.05.2008 capital increase for EUR 2.512.099,74

On 05.06.2009 capital increase for EUR 768.756,18

 

 

MANAGEMENT

 

Crefo Nr.

Name / Address / Status

Since            Power of attorney

Board of Directors

9270008604

Chairman of the board

Dusan Sesok

Opekarniska ulica 43, 1235 Radomlje Slovenia

 

9270026818

confidential clerk

Joze Godec

Ulica Franca Nebca 5, 1000 Ljubljana Slovenia

 

9270135263

Board member

Peter Goltnik

Praprotnikova ulica 15, 3330 Mozirje Slovenia

 

Supervisory Board

9270003936

chairman of the supervisory board

Dr. Dipl. Kfm. Andro Ocvirk

Novo polje, Cestza XV 31, 1260 Ljubljana-Polje

Slovenia

 

9270161678

member of the supervisory board

Janez Klancar

Rudolfovo 2, 1380 Cerknica Slovenia

 

9270003118

member of the supervisory board

Janez Peskar

Zaloska cesta 222e, 1000 Ljubljana Slovenia

 

 

 

COMPANY ADDRESSES

 

Valid from

Residence address

Valid until

 

Stegne 21, 1000 Ljubljana, Slovenia

Phone: 01 513 10 10 Telefax: 01 511 15 32

E-Mail: iskra@iskra.eu Web: www.iskra.eu

 

 

 

SUBSIDIARIES

 

Crefo Nr.

Name / Address / Status

Valid from

Share

Owner

9270071640

TEHNOLOSKI PARK LJUBLJANA d.o.o.

Statistical Nr.: 5911508

Tehnoloski park 19, 1000 Ljubljana Slovenia

 

13.258,23 EUR

9270149448

NELA razvojni center d.o.o.

Statistical Nr.: 3962237

Na PlavZu 79, 4228 Zelezniki Slovenia

 

500.000 EUR

 

 

BUSINESS ACTIVITIES

 

Main activity

Nace

Manufacture of electricity distribution and control apparatus

27.12

Additional activities

Nace

 

Company activity

 

manufacture of other electrical equipment, development, engineering, manufacture of electricity distribution and   control apparatus, production of condensers and equipment, production of electronic apparatus and equipment, import-export

 

Headquarters and business production premises are located on the \ address above,

business premises are also in Ljubljanska cesta 24A, 4000 Kranj, Otoce 5A, 4244 Podnart, Vajdova ulica 71, 8333 SemiS, Glinek 5, 1291 \ Skofljica and Sentvid pri Sticni 108, 1296 Sentvid pri Sticni

 

Economic data

 

Turnover and Employees

 

Date

Turnover

Employees

2009

46.065.819 EUR

 

2010

39.178.903 EUR

295

2011

48.592.479 EUR

364

2012

111.310.261 EUR

1370

2013

100.376.757 EUR

1242

2014

107.403.536 EUR

1213

2015

 

1180

 

 

Financial data for the company ISKRA, d.d. (Co.Number5330424) Annual turnover 2013 EUR 7.466.702 ,--Net profit 2013 EUR   2.486.177 ,--

 

Financial data for the company MAOS d.o.o. Annual turnover 2013 EUR 3.236.048 ,--Net profit 2013 EUR 1.680.756 ,--

 

Financial data for the company ISKRA MIS, d.d. Annual turnover 2011   EUR 73.542.085,-Net profit 2011 EUR 2.123.156 ,--

 

 

IMPORT / EXPORT

 

 

Import

Export

Percentage

Unknown

Unknown

Countries

European Union, USA, China

European Union, Bosnia-Hercegovina, Iran, Montenegro, Macedonia, Bulgaria, Russia, Thailand, Albania

 

 

PROPERTIES

 

Name

Detail

Currency

Value

Business premises

Company's property

Stegne 21, Ljubljana 1000, Slovenia

 

Unknown

Business premises

Company's property

Glinek5 , Skofljica 1291, Slovenia

 

Unknown

Business premises

Company's property

Sentvid pri Sticni 108, Sentvid pri Sticni 1296, Slovenia

 

Unknown

Business premises

Company's property

Ljubljanska cesta 24A, Kranj 4000, Slovenia

 

Unknown

Business premises

Company's property

Otoce 5A, Podnart 4244, Slovenia

 

Unknown

Business premises

Company's property

Vajdova ulica 71, Semic 8333, Slovenia

 

Unknown

Land and build­ings

Company's property

per 31.12.2014

EUR

17.873.515

(Own data)

 

 

SUPPLEMENTARY DATA

 

Remarks          

 

To your inquiry:

on 21.6.2012 incorporation of the company ISKRA MIS, d.d.; PE Kondenzatorji, Vajdova ulica 71, 8333 Semic; is business unit of the company Iskra d.d.

 

Company name:

ISKRA, elektro in elektronska industrija, d.d.

 

Participation in capital:

Iskra Sistemi-M DOOEL SKOPJE, Macedonia (100% share)

ISKRA d.o.o. Novi Sad , Serbia(100% share)

Iskra TELA L Laktosi, BIH (100% share)

ISKRA IP d.o.o. (100% share)

ISKRA turizem d.o.o. (100% share)

Iskra Vega plus d.o.o. (100% share)

Iskra commerce d.o.o. Serbia (100% share)

Cavae Romanae d.o.o. (100% share)

Iskra India Pvt.Ltd. India (100% share)

Iskra ODM d.o.o. (24% share)

Iskra Lotric d.o.o. (24% share)

Iskra STIK d.o.o. (24% share)

(stand per 31.12.2014)

 

Balance sheet per 31.12.2014 is according to the company's own report

 

 

BANKS

 

Code

Bank name / Address

Account Nr.

122

ABANKA VIPAd.d.

Slovenska cesta 58, 1517 Ljubljana , 1517,

SI56 0510 0800 0022

205

108

BANKA CELJE d.d.

Vodnikova 2, 3000 Celje , 3000,

SI56 060000021753034

106

BANKA KOPER d.d.

Pristaniska 14, 6502 Koper, 6502,

SI56 101000049543812

110

GORENJSKA BANKA d.d.

Bleiweisova cesta 1, 4000 Kranj , 4000,

SI56 0700 0000 1053

122

100

NOVA LJUBLJANSKA BANKA d.d., LJUBLJANA

Trg republike 2, 1520 Ljubljana , 1250,

SI56 0292 3001 2553 977

100

NOVA LJUBLJANSKA BANKA d.d., LJUBLJANA

Trg republike 2, 1520 Ljubljana , 1250,

SI56 029230260708786

100

NOVA LJUBLJANSKA BANKA d.d., LJUBLJANA

Trg republike 2, 1520 Ljubljana , 1250,

SI56 029230260708883

116

SBERBANK d.d.

Dunajska cesta 128a, 1000 Ljubljana , 1000,

SI56 300000001136682

116

SBERBANK d.d.

Dunajska cesta 128a, 1000 Ljubljana , 1000,

SI56 300000101136698

 

 

MAIN INDICES

 

PAYMENT EXPERIENCE AND CREDIT OPINION

 

Terms of payment

No complaints, but occasional delays

Business connection

Business connection appear premissable

 

 

BUSINESS DEVELOPMENT

 

Company development

Constant

Business course

satisfactory

 

 

EVENTS

 

No negative events registered.

 

 

Financial statement

 

BALANCE

 

31.12.2014 The enclosed balance of 2014 is the company’s own report, it is not authenticated by the auditor.

31.12.2013 The enclosed balance of 2013 is originated from official source, it is not authenticated by the auditor.

31.12.2012 The enclosed balance of 2012 is originated from official source, it is not authenticated by the auditor.

31.12.2011 The enclosed balance of 2011 is originated from official source, it is not authenticated by the auditor.

 

 

 

 

31/12/2014

1 EUR

balance

31/12/2013

1 EUR balance

31/12/2012

1 EUR balance

31/12/2011

1 EUR balance

Name

Ref.

 

 

 

 

 

 

 

 

ASSETS (AKTIVA)

 

111.412.207

99.285.731

108.602.861

50.931.841

LONG-TERM ASSETS

 

63.024.605

49.184.069

52.222.207

17.298.062

Intangible assets and long-term deferred costs and accrued revenues

 

1.450.379

2.232.572

3.386.545

3.015.611

Intangible assets

 

1.249.031

2.124.940

3.352.858

2.995.674

Long-term deferred costs and accrued revenues

 

201.348

107.632

33.687

19.937

Tangible fixed assets

 

37.655.105

41.275.754

42.435.731

11.638.631

Long-term financial investments and Real estate investments

 

22.924.107

4.779.744

5.529.581

2.490.887

Investment property

 

12.776.150

2.589.281

2.706.270

1.218.275

Long-term financial investments

 

10.147.957

2.190.463

2.823.311

1.272.612

Long-term operating receivables

 

123.139

26.342

75.299

5.361

Deferred receivables for taxes

 

861.875

869.657

795.051

147.572

SHORT-TERM ASSETS

 

48.271.071

49.801.939

56.012.876

32.539.114

Assets (group for estrange) for sell

 

1.387.546

132.122

132.122

132.122

Inventories

 

21.004.512

20.581.650

23.704.425

8.480.591

Short-term financial investments

 

1.809.903

3.767.724

3.872.373

4.299.553

Short-term operating receivables

 

20.735.104

23.375.506

27.118.140

16.606.244

Cash assets

 

3.334.006

1.944.937

1.185.816

3.020.604

Short-term deferred costs and accrued rev­enues

 

116.531

299.723

367.778

1.094.665

Off-balance sheet items

 

54.821.084

69.703.994

74.909.251

19.685.803

LIABILITIES

 

111.412.207

99.285.731

108.602.861

50.931.841

CAPITAL

 

37.217.798

41.671.742

41.662.275

16.469.688

 

 

 

 

31/12/2014

1 EUR

balance

31/12/2013

1 EUR balance

31/12/2012

1 EUR balance

31/12/2011

1 EUR balance

Name

Ref.

 

 

 

 

 

 

 

 

Called-up capital

 

28.065.567

28.065.567

28.065.567

11.045.667

Basic (subscribed) capital

 

28.065.567

28.065.567

28.065.567

11.045.667

Non called-up capital (deductive item)

 

0

0

0

0

Capital reserves

 

4.843.356

6.336.607

6.336.607

2.525.970

Reserves from profit

 

923.222

923.222

923.222

234.623

Surplus from revaluation

 

181.179

3.708.659

3.525.579

1.919.239

Retained net

 

0

32.565

593.760

7.785

Net business result for the business year

 

3.204.474

2.605.122

2.217.540

736.404

PROVISIONS AND LONG-TERM ACCRUED COSTS AND DEFERRED REVENUES

 

3.009.714

3.335.278

3.920.254

1.417.018

FINANCIAL AND BUSINESS LIABILITIES

 

68.343.232

51.386.143

59.203.064

30.804.162

LONG-TERM LIABILITIES

 

44.312.669

16.266.663

23.180.174

7.353.558

Long-term financial liabilities

 

44.255.184

15.302.875

22.407.336

6.671.914

Long-term operating liabilities

 

57.485

254.803

132.920

206.530

Deferred liabilities for taxes

 

0

708.985

639.918

475.114

SHORT-TERM LIABILITIES

 

24.030.563

35.119.480

36.022.890

23.450.604

Liabilities, included in groups for estrange

 

0

0

0

Short-term financial liabilities

 

6.414.017

15.192.050

13.806.101

12.535.961

Short-term operating liabilities

 

17.616.546

19.927.430

22.216.789

10.914.643

SHORT-TERM ACCRUED COSTS AND DE­FERRED REVENUES

 

2.841.463

2.892.568

3.817.268

2.240.973

Off-balance sheet items

 

54.821.084

69.703.994

74.909.251

19.685.803

 

PROFIT AND LOSS ACCOUNT:

 

31.12.2014 The enclosed profit and loss account of 2014 is the company’s own report, it is not authenticated by the auditor.

31.12.2013 The enclosed profit and loss account of 2013 is originated from official source, it is not authenticated by the auditor.

31.12.2012 The enclosed profit and loss account of 2012 is originated from official source, it is not authenticated by the auditor.

31.12.2011 The enclosed profit and loss account of 2011 is originated from official source, it is not authenticated by the auditor.

 

 

 

31/12/2014

1 EUR

profit and loss account

31/12/2013

1 EUR

profit and loss account

31/12/2012

1 EUR

profit and loss account

31/12/2011

1 EUR

profit and loss account

Name

Ref.

 

 

 

 

 

 

 

 

Net sales

 

103.317.858

97.364.181

100.659.813

46.737.532

Changes in the value of inventories of prod­ucts and work-in-process

 

336.200

-1.115.949

1.633.927

-56.964

Capitalised own products and own services

 

881.578

2.695.719

3.858.020

383.475

Other operating revenues (with subventions, grants,...)

 

1.572.920

816.605

4.142.981

736.061

GROSS OPERATING YIELD

 

106.108.556

99.760.556

110.294.741

47.800.104

Cost of goods, material and services

 

66.435.106

61.684.946

66.969.887

32.519.540

 

 

 

 

31/12/2014

1 EUR

profit and loss account

31/12/2013

1 EUR

profit and loss account

31/12/2012

1 EUR

profit and loss account

31/12/2011

1 EUR

profit and loss account

Name

Ref.

 

 

 

 

 

 

 

 

Purchase value of goods and materials sold and cost of material and cost of material used

 

42.299.051

41.135.444

42.811.579

15.473.304

Cost of services

 

24.136.055

20.549.502

24.158.308

17.046.236

Labour cost

 

24.758.180

26.143.299

29.080.509

11.184.070

Cost of wages

 

17.754.812

18.538.638

20.830.431

8.189.648

Cost of pension insurance

 

0

1.719.304

2.218.533

820.662

Cost of other social insurance

 

2.880.626

1.353.876

1.607.512

658.701

Other labour cost

 

4.122.742

4.531.481

4.424.033

1.515.059

Write-offs

 

7.172.817

7.474.795

9.297.931

2.377.659

Depreciation

 

5.769.054

5.480.666

7.272.324

1.509.480

Revaluation operating expenses for non-tangible assets and tangible fixed assets

 

558.784

851.632

23.256

8.765

Revaluation operating expenses for current assets

 

844.979

1.142.497

2.002.351

859.414

Other operating expenses

 

541.362

367.264

716.574

534.194

OPERATING REVENUES

 

106.108.556

100.876.505

108.660.814

47.857.068

OPERATING EXPENSES

 

98.907.465

95.670.304

106.064.901

46.615.463

OPERATING RESULT

 

7.201.091

5.206.201

2.595.913

1.241.605

EBIT

 

7.201.091

4.090.252

4.229.840

1.184.641

Financial income from investments in other enter­prises

 

728.772

23.896

217.239

16.710

Financial income from loans

 

146.638

165.788

169.196

173.001

Financial income from operating receivables

 

267.532

191.730

346.180

364.875

Financial expenses from depreciation and write­offs of financial investments

 

2.703.729

419.587

482.318

0

Financial expenses from financial liabilities

 

2.327.570

1.369.842

1.760.603

953.289

Financial expenses from operating liabilities

 

245.165

375.315

354.091

151.586

Financial income

 

1.142.942

381.414

732.615

554.586

Financial expenses

 

5.276.464

2.164.744

2.597.012

1.104.875

Other revenues

 

152.038

234.787

282.905

237.789

Other expenses

 

2.722

11.193

123.171

96.979

Total revenues

 

107.403.536

100.376.757

111.310.261

48.592.479

Total costs

 

104.186.651

97.846.241

108.785.084

47.817.317

Total business result

 

3.216.885

2.530.516

2.525.177

775.162

Tax on profit

 

12.411

0

0

0

Deferred taxs

 

0

-74.606

307.637

0

Net business result for the accounting period

 

3.204.474

2.605.122

2.217.540

775.162

 

 

FINANCIAL RATIOS

 

Name

Ref.

31/12/2014

31/12/2013

31/12/2012

31/12/2011

Equity ratio

1

0,25

0,28

0,26

0,22

Cleared equity ratio

2

0,25

0,25

0,23

0,19

Current liquidity

3

2,01

1,42

1,55

1,39

 

 

Name

Ref.

31/12/2014

31/12/2013

31/12/2012

31/12/2011

Quick liquidity

4

1,13

0,83

0,90

1,03

Working capital

5

24240508,00

14682459,00

19989986,00

9088510,00

Gearing

6

3,97

3,54

3,87

4,61

Cleared gearing

7

1,82

1,25

1,48

2,10

Profitability

8

3,00

2,52

2,27

1,60

Operating profitability

9

2,98

2,60

1,99

1,60

Stock days

10

71,38

74,84

77,73

63,70

Debtor days

11

70,47

85,00

88,92

124,74

Supplier days

12

59,87

59,87

72,85

81,98


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.00

UK Pound

1

Rs.95.42

Euro

1

Rs.68.49

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 


 

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.