MIRA INFORM REPORT

Report No. :	334505
Report Date :	04.08.2015

IDENTIFICATION DETAILS

Name :	GLOBAL QUIMIA SL

Registered Office :	Avda Diagonal 519-521 1º-1ª - Barcelona - 08029 - Barcelona

Country :	Spain

Financials (as on) :	2013

Date of Incorporation :	01.09.1997

Legal Form :	Private Company

Line of Business :	Wholesale of Chemical Products.

No. of Employees :	5

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 :	Slow but correct
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Spain

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

SPAIN - ECONOMIC OVERVIEW

After experiencing a prolonged recession in the wake of the global financial crisis, in 2014 Spain marked the first full year of economic growth in seven years, with growth of 1.4%. At the onset of the global financial crisis Spain's GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. Credit contraction in the private sector, fiscal austerity, and high unemployment continue to weigh on domestic consumption and investment. Exports were resilient throughout the economic downturn and helped to bring Spain's current account into surplus in 2013 for the first time since 1986, where it remained in 2014. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, closing 2014 at 23.7%. This has strained 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 2010. Spain gradually reduced the deficit to just under 7% of GDP in 2013-14, 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 more than 97% in 2014. Rising labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have helped to improve foreign investor interest in the economy and positive FDI flows have been restored.

The government's efforts to implement labor, pension, health, tax, and education reforms, aimed at supporting investor sentiment, have become overshadowed by political activity in 2015 in anticipation of national parliamentary elections late in the year. In 2013 the government successfully shored up struggling banks - exposed to the collapse of Spain's depressed real estate and construction sectors, completing an EU-funded restructuring and recapitalization program in January 2014. Recently increased private consumption helped bring real GDP growth back into positive territory at 1.4% in 2014, and labor reforms prompted a modest reduction in the unemployment rate, from more than 26% in 2013 to 23.7% in 2014. Despite the uptic in economic activity, inflation dropped sharply, from 1.5% in 2013 to flat in 2014. Spain’s 2015 budget, published in September 2014, rolls back some recently imposed taxes in advance of national elections in November 2015 and leaves untouched the country’s value-added tax (VAT) regime, which continues to generate significantly lower revenue than the EU average. Spain’s borrowing costs are dramatically lower since their peak in mid-2012.

Source : CIA

EXECUTIVE SUMMARY

Name:

GLOBAL QUIMIA SL

NIF / Fiscal code:

B61437778

Status:

ACTIVE

Incorporation Date:

01/09/1997

Register Data

Last Publication in BORME:

17/12/2012 [Appointments]

Last Published Account Deposit:

2013

Share Capital:

221.400

Localization:

Avda Diagonal 519-521 1º-1ª - Barcelona - 08029 - Barcelona

Telephone - Fax - Email - Website:

Telephone. 933223629/ 933222932 Email. globalquimia@globalquimia.com Website. www.globalquimia.com

Activity:

NACE:

4675 - Wholesale of chemical products

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

1 for a total cost of 31.145,40

Subsidies:

0 for a total cost of 0

Quality Certificate:

Payment Behaviour:

According to the agreed terms

Prospects:

Consolidation

Industry situation:

Maturity

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

MARIAMONTSERRAT FABREGAS PITARCH

10 %

JOSEANTONIO LORENTE DIEZ

10 %

JUANMANUEL PEREZ PALLAS

10 %

JOSE PEREZ MARQUEZ

70 %

Identification

Social Denomination:

GLOBAL QUIMIA SL

NIF / Fiscal code:

B61437778

Corporate Status:

ACTIVE

Start of activity:

1997

Registered Office:

AVDA DIAGONAL 519-521 1º-1ª

Locality:

BARCELONA

Province:

BARCELONA

Postal Code:

08029

Telephone:

933223629/ 933222932

Fax:

934303309

Website:

www.globalquimia.com

Email:

globalquimia@globalquimia.com

Interviewed Person:

The present information has been obtained from indirect resources, due to the disapproval of the responsible holders of presenting any kind of collaboration to prepare the present work.

Branch Offices

Activity

NACE:

4675

Legal Form:

WHOLSALE TRADE AND RETIAL SALE. DISTUBUTION SALE, IMPORTATION, EXPORTATION OF CHEMICAL AND PHARMACEUTICAL PRODUCTS OF ITS COMPONENTS, RAW MATERIALS AND SUBSTANCES.

Additional Information:

Wholesale trade of chemical products in food sector, cosmetics, perfume industry, packaging, pharmacy and dietetics, industrial and chemical synthesis.

Additional Address:

AVDA DIAGONAL 519-521 1º-1ª, 08029, Barcelona,Registered office and offices.

Franchise:

Import / export:

IMPORTS / EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2013

The data of employees is from the latest available financial statements in axesor. Failing that, are estimates data calculated by statistical methods

Chronological Summary

Year

Act

1997

Appointments/ Re-elections (1) Company Formation (1)

1998

Accounts deposit (year 1997) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social address (2) Increase of Capital (1)

1999

Accounts deposit (year 1998)

2000

Accounts deposit (year 1999) Increase of Capital (1) Statutory Modifications (1)

2001

Accounts deposit (year 2000) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2)

2002

Accounts deposit (year 2001) Appointments/ Re-elections (1)

2003

Accounts deposit (year 2002)

2004

Accounts deposit (year 2003) Change of Social address (1) Increase of Capital (1)

2005

Accounts deposit (year 2004)

2006

Accounts deposit (year 2005)

2007

Appointments/ Re-elections (1)

2008

Accounts deposit (year 2006, 2007)

2009

Accounts deposit (year 2008)

2010

Accounts deposit (year 2009) Appointments/ Re-elections (1)

2011

Accounts deposit (year 2010)

2012

Accounts deposit (year 2011) Appointments/ Re-elections (2) Increase of Capital (1)

2013

Accounts deposit (year 2012)

2014

Accounts deposit (year 2013)

Breakdown of Owners' Equity

Registered Capital:

221.400

Paid up capital:

221.400

Updated Evolution of the Subscribed and Paid-in Capital

wordml://1177

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

09/10/1997

Company Formation

6.010

11/07/1998

Increase of Capital

72.121

78.132

27/05/2000

Increase of Capital

3.005

81.137

17/02/2004

Increase of Capital

71.996

153.131

30/04/2012

Increase of Capital

68.270

221.400

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

ADMINISTRATOR

PEREZ MARQUEZ JOSE

17/05/2001

JOINT MANAGER

RODRIGUEZ DE VERA MARIN PABLO

30/04/2012

PROXY

FABREGAS PITARCH MARIA MONTSERRAT

14/05/2002

LORENTE DIEZ JOSE ANTONIO

14/07/2001

PEREZ PALLAS JUAN MANUEL

25/04/2001

ACCOUNTS' AUDITOR / HOLDER

ACTIVA AUDITORIA & CONSULTORIA SLP

07/12/2012

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ACTIVA AUDITORIA & CONSULTORIA SLP

ACCOUNTS' AUDITOR / HOLDER

07/12/2012

ARTECNICA AUDIT SL

ACCOUNTS' AUDITOR / HOLDER

13/08/2010

GARCIA MOLINA ANA MARIA

PROXY

17/05/2001

LORENTE DIEZ JOSE ANTONIO

ADMINISTRATOR

17/05/2001

VELEZ LLORCA JOSE LUIS

ADMINISTRATOR

11/07/1998

Executive board

Post

NIF

Name

ADMINISTRATOR

JOSE PEREZ MARQUEZ

ADMINISTRATOR

PABLO RODRIGUEZ VERA MARIN

FINANCIAL DIRECTOR

JOSE ANTONIO LLORENTE

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 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.

GLOBAL QUIMIA SL obtains economic profitability from the necessary investments in the development of its activity in comparison with its assets.

It has financial profitability.. GLOBAL QUIMIA SL obtains financial return as a consequence of an investment in its own resources which, a priori, might improve its financial and economic situation.

Positive Working CapitalThe Company's Working Capital quality is significant, i.e. much of the Company financing comes from its equity. A structure is considered optimal if its liquidity level is slightly above its debt volume as a result of low idleness levels of its financial resources involved.

GLOBAL QUIMIA SL it presents an excessive indebtedness that may compromise their balance sheet.

The current debt represents a 72.37% of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

The company denotes a special dependence short-term financing which, a priori, could cause problems of short-term solvency.

No Company's subsidiaries or branches are known.

Audit qualifications . The company has submitted the audit with a qualified opinion, indicating that the financial statements may not reflect the true picture because of the existence of circumstances that may be significant.

Probability of default

> Estimated Probability of Default for the next 12 months: 0.917 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

467 Other specialised wholesale

wordml://2157

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 95.00% of the companies of the sector GLOBAL QUIMIA 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 0.917%.

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

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

No se han publicado

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

No se han publicado

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

No se han publicado

Incidences with the Social Security

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

Proceedings before the Industrial Tribunal

No se han publicado

SHAREHOLDERS :

4 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

MARIAMONTSERRAT FABREGAS PITARCH

JOSEANTONIO LORENTE DIEZ

JUANMANUEL PEREZ PALLAS

JOSE PEREZ MARQUEZ

Turnover

Total Sales 2013

9.518.993

The sales data is from the latest available financial statements in axesor. Failing that, are estimates data calculated by statistical methods.

Estimated Balance

ESTIMATED FIGUERS YEAR 2014 -NON-CURRENT ASSET 169.000 Euro/s -CURRENT ASSET 2.240.000 Euro/s -NET WORTH 665.000 Euro/s -NON-CURRENT LIABILITIES 0 Euro/s -CURRENT LIABILITIES 1.744.000 Euro/s -TOTAL LIABILITIES AND NET ASSETS 2.409.000 Euro/s -SALES 9.600.000 Euro/s

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2013

Normales

August 2014

2012

Normales

August 2013

2011

Normales

August 2012

2010

Normales

September 2011

2009

Normales

September 2010

2008

Normales

November 2009

2007

Normales

September 2008

2006

Normales

November 2007

2005

Normales

September 2006

2004

Normales

September 2005

2003

Normales

October 2004

2002

Normales

September 2003

2001

Normales

September 2002

2000

Normales

September 2001

1999

Normales

January 2000

1998

Normales

July 1999

1997

Normales

June 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 Abreviado 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, such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2013

2012

2011

2010

2009

A) NON-CURRENT ASSETS: 11000

168.087,00

182.193,00

190.610,00

200.314,00

238.309,00

I. Intangible fixed assets : 11100

0,00

II. Tangible fixed assets : 11200

9.981,00

19.685,00

29.389,00

39.093,00

52.088,00

III. Real estate investment: 11300

0,00

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

0,00

V. Long-term financial investments: 11500

158.105,00

162.508,00

161.221,00

186.221,00

VI. Assets for deferred tax : 11600

0,00

VII. Non-current trade debtors : 11700

0,00

B) CURRENT ASSETS: 12000

2.220.919,00

2.059.119,00

1.804.280,00

2.983.934,00

1.829.283,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

488.994,00

578.144,00

415.150,00

553.098,00

434.745,00

III. Trade debtors and others receivable accounts: 12300

1.157.635,00

1.324.651,00

1.228.995,00

2.111.349,00

1.215.566,00

1.- Customers for sales and provisions of services : 12380

1.122.060,00

1.290.397,00

1.196.346,00

2.099.058,00

1.198.376,00

a) Long-term receivables from sales and services supplied : 12381

0,00

b) Customers for sales and provisions of services : 12382

1.122.060,00

1.290.397,00

1.196.346,00

2.099.058,00

1.198.376,00

2.- Called up share capital : 12370

0,00

3.- Other accounts receivable : 12390

35.574,00

34.254,00

32.649,00

12.292,00

17.190,00

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

0,00

V. Short-term financial investments : 12500

0,00

5.000,00

0,00

VI. Short-term accruals: 12600

41.562,00

3.353,00

3.804,00

8.181,00

8.760,00

VII. Cash and other equivalent liquid assets : 12700

532.729,00

147.971,00

156.330,00

311.306,00

170.211,00

TOTAL ASSETS (A + B) : 10000

2.389.006,00

2.241.312,00

1.994.890,00

3.184.248,00

2.067.592,00

ORIGINAL

Liabilities and Net Worth

2013

2012

2011

2010

2009

A) NET WORTH: 20000

660.140,00

622.386,00

583.075,00

552.157,00

507.935,00

A1) Shareholders' equity : 21000

660.140,00

622.386,00

583.075,00

552.157,00

507.935,00

I. Capital: 21100

221.400,00

153.131,00

1.- Registered capital: 21110

221.400,00

153.131,00

2.- (Uncalled capital) : 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

400.986,00

361.675,00

330.757,00

354.805,00

322.289,00

IV. (Common stock equity): 21400

0,00

V. Profit or loss brought forward: 21500

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

37.754,00

39.311,00

30.919,00

44.221,00

32.516,00

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

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

0,00

B) NON-CURRENT LIABILITIES: 31000

0,00

I. Long-term provisions: 31100

0,00

II. Long-term creditors : 31200

0,00

1.- Amounts owed to credit institutions: 31220

0,00

2.- Creditors from financial leasing : 31230

0,00

3.- Other long-term creditors : 31290

0,00

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

1.728.865,00

1.618.926,00

1.411.815,00

2.632.092,00

1.559.656,00

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

1.068.352,00

1.282.002,00

1.085.423,00

1.724.707,00

1.028.047,00

1.- Amounts owed to credit institutions: 32320

1.068.352,00

1.282.002,00

1.085.423,00

1.724.707,00

1.028.047,00

2.- Creditors from financial leasing : 32330

0,00

3.- Other short-term creditors : 32390

0,00

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

0,00

V. Trade creditors and other accounts payable: 32500

660.513,00

336.924,00

326.391,00

907.385,00

531.609,00

1.- Suppliers: 32580

416.668,00

139.752,00

131.457,00

513.777,00

389.024,00

a) Long-term debts : 32581

0,00

b) Short-term debts : 32582

416.668,00

139.752,00

131.457,00

513.777,00

389.024,00

2.- Other creditors : 32590

243.845,00

197.172,00

191.840,00

384.848,00

137.532,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

2.389.006,00

2.241.312,00

1.994.890,00

3.184.248,00

2.067.592,00

ORIGINAL

Profit and Loss

2013

2012

2011

2010

2009

1. Net turnover: 40100

9.518.993,00

9.818.782,00

6.695.351,00

7.390.157,00

5.665.980,00

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

0,00

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

0,00

4. Supplies : 40400

-8.700.293,00

-8.934.992,00

-5.985.001,00

-6.476.905,00

-4.881.900,00

5. Other operating income: 40500

136.988,00

101.765,00

131.597,00

93.397,00

122.010,00

6. Personnel costs: 40600

-381.588,00

-376.177,00

-366.315,00

-359.490,00

-417.259,00

7. Other operating costs: 40700

-464.090,00

-473.807,00

-381.369,00

-504.758,00

-417.806,00

8. Amortisation of fixed assets: 40800

-9.704,00

-12.995,00

-17.484,00

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

0,00

10. Excess provisions : 41000

0,00

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

0,00

6.196,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

0,00

3.001,00

66,00

3,00

182,00

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

100.307,00

128.868,00

84.626,00

129.408,00

59.919,00

14. Financial income : 41400

10.031,00

10.176,00

9.231,00

7.737,00

17.520,00

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

0,00

b) Other financial income: 41490

10.031,00

10.176,00

9.231,00

7.737,00

17.520,00

15. Financial expenditure: 41500

-62.127,00

-73.078,00

-55.135,00

-42.163,00

-42.392,00

16. Changes in fair value of financial instruments : 41600

0,00

17. Exchange rate differences : 41700

2.127,00

-13.551,00

2.502,00

-2.688,00

8.307,00

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

0,00

-25.000,00

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

-49.968,00

-76.453,00

-43.401,00

-62.113,00

-16.564,00

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

50.339,00

52.415,00

41.225,00

67.295,00

43.354,00

20. Income taxes: 41900

-12.585,00

-13.104,00

-10.306,00

-23.074,00

-10.839,00

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

37.754,00

39.311,00

30.919,00

44.221,00

32.516,00

> 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, such criteria using its own methodology. To view details on the methodology 2013 2012 2011 2010 2009 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2013

2012

2011

2010

2009

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

168.087,00

182.193,00

190.610,00

200.314,00

238.309,00

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:

9.981,00

19.685,00

29.389,00

39.093,00

52.088,00

1. Land and construction:

0,00

2. Technical installations and machinery:

0,00

3. Other installations, tools and furniture:

0,00

21.525,00

28.632,00

38.150,00

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

0,00

5. Other tangible assets:

0,00

7.864,00

10.461,00

13.938,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

158.105,00

162.508,00

161.221,00

186.221,00

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:

149.325,00

153.484,00

152.268,00

177.268,00

7. Long term guarantees and deposits:

8.780,00

9.025,00

8.953,00

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:

2.220.919,00

2.059.119,00

1.804.280,00

2.983.934,00

1.829.283,00

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

0,00

II. Stocks:

488.994,00

578.144,00

415.150,00

553.098,00

434.745,00

1. Goods for resale:

437.955,00

517.801,00

371.820,00

438.291,00

383.981,00

2. Raw materials and other consumables:

0,00

3. Goods in process and semifinished ones:

0,00

4. Finished products:

0,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

51.038,00

60.343,00

43.331,00

114.806,00

50.764,00

7. Provisions:

0,00

III. Debtors:

1.157.635,00

1.324.651,00

1.228.995,00

2.111.349,00

1.215.566,00

1. Trade debtors / accounts receivable:

1.126.882,00

1.289.461,00

1.196.346,00

2.099.058,00

1.198.376,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

23.297,00

26.659,00

24.733,00

12.292,00

6.046,00

5. Staff:

0,00

6. Public bodies:

7.456,00

8.531,00

7.915,00

0,00

11.145,00

7. Provisions:

0,00

IV. Short-term investments:

0,00

5.000,00

0,00

1. Equity investments in group companies:

0,00

5.000,00

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:

0,00

7. Shor term guarantees and deposits:

0,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

532.729,00

147.971,00

156.330,00

311.306,00

170.211,00

VII. Prepayments and accrued income:

41.562,00

3.353,00

3.804,00

8.181,00

8.760,00

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

2.389.006,00

2.241.312,00

1.994.890,00

3.184.248,00

2.067.592,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2013

2012

2011

2010

2009

A) EQUITY:

660.140,00

622.386,00

583.075,00

552.157,00

507.935,00

I. Subscribed capital:

221.400,00

153.131,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

400.986,00

361.675,00

330.757,00

354.805,00

322.289,00

1. Legal reserve:

37.129,00

33.489,00

30.626,00

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:

363.854,00

328.184,00

300.128,00

324.176,00

291.661,00

Differences due to capital adjustement to euros:

3,00

2,00

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:

37.754,00

39.311,00

30.919,00

44.221,00

32.516,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

0,00

1. Capital grants:

0,00

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:

0,00

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:

0,00

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:

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:

1.728.865,00

1.618.926,00

1.411.815,00

2.632.092,00

1.559.656,00

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:

1.068.352,00

1.282.002,00

1.085.423,00

1.724.707,00

1.028.047,00

1. Loans and other liabilities:

1.068.352,00

1.282.002,00

1.085.423,00

1.724.707,00

1.028.047,00

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:

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

660.513,00

336.924,00

232.705,00

669.831,00

464.854,00

1. Advanced payments from customers:

0,00

3.095,00

8.760,00

5.052,00

2. Amounts owed for purchases of goods or services:

416.668,00

139.752,00

229.610,00

661.071,00

459.802,00

3. Debts represented by notes payable:

243.845,00

197.172,00

0,00

V. Other creditors:

0,00

93.686,00

237.554,00

66.755,00

1. Public bodies:

0,00

69.555,00

214.918,00

44.223,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

0,00

4. Wages and salaries payable:

0,00

24.131,00

22.636,00

22.532,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

2.389.006,00

2.241.312,00

1.994.890,00

3.184.248,00

2.067.592,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2013

2012

2011

2010

2009

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

9.630.386,00

9.894.412,00

6.807.829,00

7.447.073,00

5.781.483,00

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

0,00

A.2. Supplies:

8.700.293,00

8.934.992,00

5.985.001,00

6.476.905,00

4.881.900,00

a) Stock consumption:

8.343.953,00

8.569.039,00

5.739.872,00

6.211.629,00

4.681.951,00

b) Consumption of raw materials and miscellaneous consumable ones:

0,00

c) Miscellaneous external expenditure:

356.340,00

365.953,00

245.129,00

265.276,00

199.949,00

A.3. Staff costs:

381.588,00

376.177,00

366.315,00

359.490,00

417.259,00

a) Wages, salaries et al.:

321.712,00

317.151,00

308.836,00

303.082,00

351.786,00

b) Social security costs:

59.875,00

59.026,00

57.479,00

56.408,00

65.473,00

A.4. Depreciation expense:

9.704,00

12.995,00

17.484,00

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

39.432,00

40.258,00

32.404,00

42.888,00

35.499,00

a) Stock provision variation:

0,00

b) Variation in provision and bad debt losses:

39.432,00

40.258,00

32.404,00

42.888,00

35.499,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

424.658,00

433.550,00

348.965,00

461.871,00

382.307,00

a) External services:

406.584,00

415.097,00

334.113,00

442.213,00

366.035,00

b) Taxes:

17.150,00

17.509,00

14.093,00

18.653,00

15.440,00

c) Other operating expenses:

924,00

943,00

759,00

1.005,00

832,00

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):

100.307,00

125.866,00

84.560,00

129.406,00

53.541,00

A.7. Financial and similar charges:

62.127,00

73.078,00

55.135,00

42.163,00

42.392,00

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.:

62.127,00

73.078,00

55.135,00

42.163,00

42.392,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

0,00

13.551,00

0,00

2.688,00

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):

50.339,00

49.413,00

41.159,00

92.292,00

36.976,00

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

0,00

25.000,00

-6.196,00

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):

0,00

3.001,00

66,00

0,00

6.378,00

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

50.339,00

52.415,00

41.225,00

67.295,00

43.354,00

A.15. Corporation tax:

12.585,00

13.104,00

10.306,00

23.074,00

10.839,00

A.16. Miscellaneous taxes:

0,00

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

37.754,00

39.311,00

30.919,00

44.221,00

32.516,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2013

2012

2011

2010

2009

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

9.668.140,00

9.933.723,00

6.838.748,00

7.491.294,00

5.813.999,00

B.1. Net total sales:

9.518.993,00

9.818.782,00

6.695.351,00

7.390.157,00

5.665.980,00

a) Sales:

9.518.993,00

9.818.782,00

6.695.351,00

7.390.157,00

5.665.980,00

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

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

0,00

B.4. Miscellaneous operating income:

136.988,00

101.765,00

131.597,00

93.397,00

122.010,00

a) Auxiliary income and other from current management:

136.988,00

101.765,00

131.597,00

93.397,00

122.010,00

b) Grants:

0,00

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:

0,00

a) In companies of the group:

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

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:

10.031,00

10.176,00

9.231,00

7.737,00

17.520,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

10.031,00

10.176,00

9.231,00

7.737,00

17.520,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

2.127,00

0,00

2.502,00

0,00

8.307,00

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

49.968,00

76.453,00

43.401,00

37.113,00

16.564,00

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:

0,00

B.12. Extraordinary income:

0,00

3.001,00

66,00

3,00

182,00

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

24.997,00

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

50.339,00

52.415,00

41.225,00

67.295,00

43.354,00

2. Results adjustments.: 61200

61.799,00

72.606,00

55.730,00

58.975,00

7.134,00

a) Fixed Assets Amortization (+).: 61201

9.704,00

12.995,00

17.484,00

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

0,00

17.047,00

-24.239,00

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

0,00

-6.196,00

g) Financial income (-).: 61207

-10.031,00

-10.176,00

-9.231,00

-7.737,00

-17.520,00

h) Financial Expenses (+). : 61208

62.127,00

73.078,00

55.135,00

42.163,00

42.392,00

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

0,00

-2.502,00

2.688,00

-8.307,00

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

0,00

2.625,00

-8.181,00

3.520,00

3. Changes in current capital equity.: 61300

533.962,00

-265.769,00

459.401,00

-641.676,00

-26.253,00

a) Stock (+/-).: 61301

89.150,00

-162.993,00

137.948,00

-103.073,00

520.209,00

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

167.016,00

-95.656,00

886.735,00

-898.633,00

441.870,00

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

-33.209,00

-4.549,00

0,00

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

311.004,00

-2.571,00

-565.282,00

360.030,00

-20.791,00

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

0,00

-967.541,00

4. Other cash flows for operating activities.: 61400

-52.095,00

-62.902,00

-74.549,00

-37.471,00

-47.554,00

a) Interest payments (-). : 61401

-62.127,00

-73.078,00

-55.135,00

-42.163,00

-42.392,00

c) Interest collection (+). : 61403

10.031,00

10.176,00

9.231,00

7.737,00

17.520,00

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

0,00

-28.646,00

-3.045,00

-22.682,00

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

594.005,00

-203.651,00

481.806,00

-552.877,00

-23.319,00

6. Payments for investment (-).: 62100

0,00

-1.287,00

0,00

-4.358,00

e) Other financial assets. : 62105

0,00

-1.287,00

0,00

-4.358,00

7. Divestment payment collection (+). : 62200

14.107,00

9.704,00

0,00

7.759,00

c) Fixed assets. : 62203

9.704,00

0,00

7.759,00

e) Other financial assets. : 62205

4.403,00

0,00

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

4.403,00

-1.287,00

-9.704,00

-12.995,00

-14.083,00

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

0,00

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

-213.650,00

196.579,00

-639.284,00

696.660,00

0,00

a) Issuance : 63201

0,00

196.579,00

0,00

696.660,00

0,00

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

0,00

196.579,00

0,00

696.660,00

0,00

b) Repayment and amortization of : 63207

-213.650,00

0,00

-639.284,00

0,00

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

-213.650,00

0,00

-639.284,00

0,00

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

0,00

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

-213.650,00

196.579,00

-639.284,00

696.660,00

0,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

2.502,00

-2.688,00

8.307,00

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

384.757,00

-8.359,00

-154.976,00

141.095,00

-11.611,00

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

147.971,00

156.330,00

311.306,00

170.211,00

181.822,00

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

532.729,00

147.971,00

156.330,00

311.306,00

170.211,00

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:

0,04 %

0,02 %

0,00 %

0,17 %

-89,77 %

EBITDA over Sales:

1,16 %

-1,56 %

1,38 %

7,58 %

-16,30 %

-120,55 %

Cash Flow Yield:

0,16 %

0,00 %

0,04 %

-89,82 %

Profitability

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

4,50 %

-12,64 %

6,07 %

0,51 %

-25,92 %

-2.560,19 %

Total economic profitability:

4,71 %

-3,45 %

5,60 %

-0,03 %

-15,92 %

-12.451,89 %

Financial profitability:

5,72 %

-12,16 %

6,32 %

-3,94 %

-9,45 %

-208,39 %

Margin:

1,04 %

-25,21 %

1,27 %

0,94 %

-18,12 %

-2.780,63 %

Mark-up:

0,52 %

-22,28 %

0,50 %

-6,14 %

4,66 %

-262,80 %

Solvency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,31

0,16

0,09

0,16

237,13

4,13

Acid Test:

0,98

1,22

0,91

0,86

7,12

41,55

Working Capital / Investment:

0,21

0,08

0,20

0,08

4,87

2,42

Solvency:

1,28

1,70

1,27

1,43

1,00

18,99

Indebtedness

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

2,62

1,06

2,60

1,07

0,68

-0,75

Borrowing Composition:

0,00

0,96

0,00

1,22

-21,07

Repayment Ability:

4,49

128,19

-193,68

14,17

102,32

804,69

Warranty:

1,38

2,10

1,38

1,94

-0,19

8,61

Generated resources / Total creditors:

0,03

-0,06

0,03

0,01

-9,33

-614,83

Efficiency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,29

0,94

1,36

1,30

-5,30

-27,71

Turnover of Collection Rights :

8,34

2,92

7,49

3,64

11,38

-19,74

Turnover of Payment Entitlements:

13,87

2,36

27,93

2,35

-50,32

0,25

Stock rotation:

19,54

2,57

16,94

2,20

15,35

16,72

Assets turnover:

4,33

0,50

4,78

0,55

-9,52

-8,22

Borrowing Cost:

3,59

3,38

4,51

2,83

-20,39

19,72

> 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:

0,04 %

0,00 %

-0,02 %

0,02 %

0,00 %

EBITDA over Sales:

1,16 %

1,38 %

1,41 %

1,93 %

1,25 %

Cash Flow Yield:

0,16 %

0,00 %

-0,08 %

0,04 %

-0,01 %

Profitability

2013

2012

2011

2010

2009

Operating economic profitability:

4,50 %

6,07 %

4,61 %

4,28 %

3,18 %

Total economic profitability:

4,71 %

5,60 %

4,83 %

3,44 %

4,15 %

Financial profitability:

5,72 %

6,32 %

5,30 %

8,01 %

6,40 %

Margin:

1,04 %

1,27 %

1,24 %

1,73 %

1,03 %

Mark-up:

0,52 %

0,50 %

0,60 %

0,90 %

0,75 %

Solvency

2013

2012

2011

2010

2009

Liquidity:

0,31

0,09

0,11

0,12

0,11

Acid Test:

0,98

0,91

0,98

0,92

0,89

Working Capital / Investment:

0,21

0,20

0,11

0,13

Solvency:

1,28

1,27

1,28

1,13

1,17

Indebtedness

2013

2012

2011

2010

2009

Indebtedness level:

2,62

2,60

2,42

4,77

3,07

Borrowing Composition:

0,00

Repayment Ability:

4,49

-193,68

-9,11

18,65

-134,32

Warranty:

1,38

1,41

1,21

1,33

Generated resources / Total creditors:

0,03

Efficiency

2013

2012

2011

2010

2009

Productivity:

1,29

1,36

1,26

1,40

1,17

Turnover of Collection Rights :

8,34

7,49

5,55

3,54

4,76

Turnover of Payment Entitlements:

13,87

27,93

19,51

7,69

9,97

Stock rotation:

19,54

16,94

16,24

13,30

13,19

Assets turnover:

4,33

4,78

3,72

2,48

3,08

Borrowing Cost:

3,59

4,51

3,91

1,60

2,72

COMPARATIVE SECTORIAL BALANCE

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

Variación -

Empresa

Sector

Variación -

Empresa

Sector

Variación -

Empresa

Sector

Public Tenders and Works Won

Organisation that calls the tender:

INSPECCION GENERAL DE SANIDAD DEL MINISTERIO DE DEFENSA

Objective of Tender:

SUMINISTRO DE 13 000 KGRS DE VASELINA FILANTE

Date Awarded:

13/12/2012

Cost:

31.145,40 EURO.

Research Summary

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.63.96
UK Pound	1	Rs.99.93
Euro	1	Rs.70.16

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	TPT

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

Partners

Identification

Branch Offices

Activity

Number of Employees

Chronological Summary

Breakdown of Owners' Equity

Updated Evolution of the Subscribed and Paid-in Capital

Active Social Bodies

Executive board

Defaults, Legal Claims and Insolvency Proceedings

Chronological summary

Probability of default

LEGAL CLAIMS

Turnover

Estimated Balance

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

Public Tenders and Works Won

Research Summary

Sources

Unit