MIRA INFORM REPORT

Report No. :	308050
Report Date :	25.02.2015

IDENTIFICATION DETAILS

Name :	TECNOPACKING SL

Registered Office :	Calle Castilla-Leon 45 ( Pol. Ind. Colomer) Onda Castellon 12200

Country :	Spain

Financials (as on) :	31.12.2012

Date of Incorporation :	10.03.1992

Legal Form :	Private Company

Line of Business :	Subject is engaged in the development of comprehensive solutions for the packaging and the bottling. Its activity has national and international scope.

No. of Employee :	40

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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:

TECNOPACKING SL

NIF / Fiscal code:

B12218186

Status:

ACTIVE

Incorporation Date:

10/03/1992

Register Data

Last Publication in BORME:

25/09/2014 [Appointments]

Last Published Account Deposit:

2012

Share Capital:

60.100

Localization:

CALLE CASTILLA-LEON 45 ( POL. IND. COLOMER ) - ONDA - 12200 - CASTELLON

Telephone - Fax - Email - Website:

Ph.:. 964 772 236�� Email. info@tecnopacking.com�� Website. www.tecnopacking.com/

Number of Branches

Activity:

NACE:

4619 - Agents involved in the sale of a variety of goods

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

0 for a total cost of 0

Subsidies:

0 for a total cost of 0

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)

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

REALIZA PATRIMONIAL SL

100 %

Enquiry Details

IDENTIFICATION

Social Denomination:

TECNOPACKING SL

NIF / Fiscal code:

B12218186

Corporate Status:

ACTIVE

Start of activity:

1992

Registered Office:

CALLE CASTILLA-LEON 45 ( POL. IND. COLOMER )

Locality:

ONDA

Province:

CASTELLON

Postal Code:

12200

Telephone:

964 772 236

Fax:

964 603 026

Website:

www.tecnopacking.com/

Email:

info@tecnopacking.com

Interviewed Person:

Sra. Carmen Beltrán

Branch Offices

Address

Postal Code

City

Province

Parque Empresarial ÁREAS Parc-21

36711

Tuy

Pontevedra

ACTIVITY

NACE:

4619

CNAE Obtaining Source:

4619

Additional Information:

Comprehensive solutions of packaging and bottling. - Additional Information: The registered office, offices and branches are indicated in the headline of this document. The company has a delegation in TUY (Pontevedra).

Franchise:

Import / export:

EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

�

Year

No. of employees

Established

Incidentals

�

2013

�

Chronological Summary

Year

Act

1990

Accounts deposit (ejer. 1989) Appointments/ Re-elections (1) Dividends Payment (1) Statutory Modifications (1)

1991

Accounts deposit (ejer. 1990)

1992

Accounts deposit (ejer. 1991) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2) Change of Social Purpose (1) Change of Social address (1) Company Transformation (1) Statutory Modifications (1)

1993

Accounts deposit (ejer. 1992)

1994

Accounts deposit (ejer. 1993)

1995

Accounts deposit (ejer. 1994)

1996

Accounts deposit (ejer. 1995) Appointments/ Re-elections (1)

1997

Accounts deposit (ejer. 1996) Adaptation to Law (1) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

1998

Accounts deposit (ejer. 1997)

1999

Accounts deposit (ejer. 1998)

2001

Accounts deposit (ejer. 1999, 2000)

2002

Accounts deposit (ejer. 2001) Change of Social address (1) Statutory Modifications (1)

2003

Accounts deposit (ejer. 2002)

2004

Accounts deposit (ejer. 2003)

2005

Accounts deposit (ejer. 2004)

2006

Accounts deposit (ejer. 2005) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1)

2007

Accounts deposit (ejer. 2006) Cessations/ Resignations/ Reversals (1)

2008

Accounts deposit (ejer. 2007) Appointments/ Re-elections (1)

2009

Accounts deposit (ejer. 2008)

2010

Accounts deposit (ejer. 2009)

2011

Accounts deposit (ejer. 2010) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Declaration of Sole Propietorship (1)

2012

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

2013

Accounts deposit (ejer. 2012) Appointments/ Re-elections (1)

2014

Appointments/ Re-elections (1)

Breakdown of Owners' Equity

Registered Capital:

60.100

Paid up capital:

60.100

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

06/07/1990

Capital call payment

30.051

---

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

SINGLE PARTNER

REALIZA PATRIMONIAL SL

16/06/2011

SINGLE ADMINISTRATOR

TERUEL GALINDO OSCAR

16/06/2011

PROXY

GARCIA FORNER JORGE

17/09/2014

TERUEL GARCIA MANUEL

16/06/2011

TERUEL GALINDO OSCAR

08/02/1996

ACCOUNTS' AUDITOR / HOLDER

GRANT THORNTON SLP

13/08/2013

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

AUDIHISPANA GRANT THORNTON SL

ACCOUNTS' AUDITOR / HOLDER

15/09/2011

GALINDO MOLINA ALICIA

MEMBER OF THE BOARD

24/02/1992

SECRETARY

24/02/1992

GOZZI FRANCO

MEMBER OF THE BOARD

24/02/1992

VICE CHAIRMAN

24/02/1992

GRANT THORNTON SLP

ACCOUNTS' AUDITOR / HOLDER

15/09/2011

ACCOUNTS' AUDITOR / HOLDER

22/08/2012

ACCOUNTS' AUDITOR / HOLDER

13/08/2013

MEDIAUDIT AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

29/10/2008

MEDIAUDIT AUDITORES SOCIEDAD LIMITADA

ACCOUNTS' AUDITOR / HOLDER

20/11/2007

MESCOLI GIULIANO

MEMBER OF THE BOARD

24/02/1992

REALI UMBERTO

MEMBER OF THE BOARD

24/02/1992

ROSELLO AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

30/10/2006

TERUEL GARCIA MANUEL

SINGLE ADMINISTRATOR

06/10/1997

SINGLE ADMINISTRATOR

16/06/2011

ADMINISTRATOR

30/03/1992

MEMBER OF THE BOARD

24/02/1992

CHIEF EXECUTIVE OFFICER

24/02/1992

PRESIDENT

24/02/1992

ZINI DOMIZIA

MEMBER OF THE BOARD

24/02/1992

Executive board

Post

NIF

Name

ADMINISTRATOR

OSCAR TERUEL GALINDO

COMMERCIAL MANAGER

OSCAR TERUEL GALINDO

FINANCIAL DIRECTOR

MARIA CARMEN BELTRAN

MANAGING DIRECTOR

MANUEL TERUEL GARCIA

Defaults, Legal Claims and Insolvency Proceedings

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

> Summary

Chronological summary

Number of Publications

Amount (_)

Start date

End date

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Request/Declaration

---

date

Proceedings

---

Resolution

---

Defaults on debt with Financial Institutions and Large Companies

Bank and Commercial Delinquency

None

Status: Friendly

---

Status: Pre-Litigation

---

Status: Litigation

---

Status: Non-performing

---

Status: insolvency proceedings, bankruptcy and suspension of payments

---

Other status

---

Legal and Administrative Proceedings

---

09/08/2010

13/02/2013

Notices of defaults and enforcement

---

Seizures

---

Auctions

---

Declarations of insolvency and bad debt

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

> Basis for scoring

Positive Factors

Adverse Factors

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

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

The current debt represents a 36.41of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

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

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

Events related to TECNOPACKING SL that might affect its rating positively have been published in the Registry of Commerce's Official Gazette

Probability of default

> Estimated Probability of Default for the next 12 months: 0.386 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

461 Wholesale on a fee or contract basis

wordml://2320

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 TECNOPACKING 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 0.386%.

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

2 Legal Claims for a total cost of 0,00 E

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

No se han publicado

Proceedings by the old Civil Procedural Law 1.881

No se han publicado

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Procedimientos ante Juzgados de lo Social

No se han publicado

Incidences Detailed

Incidences with the Local Administration

PROCESSED BY THE LOCAL GOVERNMENT DE CASTELLON DE LA PLANA (CASTELLON) - Date 13/02/2013

Last Published Stage:

SEIZURE

Record Number:

126869

Amount of the incidence:

0,00 E

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.P. CASTELLON Nº23, 2013 PAGINA 122

PROCESSED BY THE LOCAL GOVERNMENT DE CASTELLON DE LA PLANA (CASTELLON) - Date 09/08/2010

Last Published Stage:

SEIZURE

Record Number:

71153

Amount of the incidence:

0,00 E

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.P. CASTELLON Nº100, 2010 PAGINA 46

Guarantees

References

Link List

IS RELATED WITH:

1 Entities

PARTICIPATES IN:

1 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

REALIZA PATRIMONIAL SL

CASTELLON

100

PARTICIPATES IN

QUALIPLAST SA

CASTELLON

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

CARTONTUB SL

VALENCIA

Turnover

Total Sales 2012

23.019.764,73

Estimated Balance

The last accounts deposit which appears in the trade register under the owner´s name, corresponds to the closing of the financial year to date of 31-12-2012 and because of that we can not have information about the financial year of 2013 and 2014. Consequently, we are not able to include these figure in this section of the document.

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2012

Normales

September 2013

2011

Normales

October 2012

2010

Normales

October 2011

2009

Normales

September 2010

2008

Normales

August 2009

2007

Normales

October 2008

2006

Normales

September 2007

2005

Normales

August 2006

2004

Normales

September 2005

2003

Normales

September 2004

2002

Normales

October 2003

2001

Normales

August 2002

2000

Normales

August 2001

1999

Normales

November 2000

1998

Normales

August 1999

1997

Normales

August 1998

1996

Normales

October 1997

1993

Normales

July 1994

1992

Normales

September 1993

1991

Normales

July 1992

1990

Normales

June 1991

1989

Normales

July 1990

The data in the report regarding the last Company Accounts submitted by the company is taken from the TRADE REGISTER serving the region in which the company's address is located 31/12/2012

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

Information corresponding to the fiscal year 2012 2011 2010 2009 2008 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2012 2011 2010 2009 2008 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. To view details on the methodology.

ORIGINAL

Assets

2012

2011

2010

2009

2008

A) NON-CURRENT ASSETS: 11000

1.237.005,00

1.302.619,00

1.301.496,00

1.271.302,00

1.345.343,00

I. Intangible fixed assets : 11100

35.065,00

41.510,00

2.099,00

4.652,00

5.613,00

1. Development: 11110

0,00

2. Concessions: 11120

0,00

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

0,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

35.065,00

41.510,00

2.099,00

4.652,00

5.613,00

6. Investigation: 11160

0,00

7. Intellectual property: 11180

0,00

8. Greenhouse gas emission allowance: 11190

0,00

9. Other intangible fixed assets. : 11170

0,00

II. Tangible fixed assets : 11200

1.185.297,00

1.243.554,00

1.275.967,00

1.242.747,00

1.315.663,00

1. Land and buildings: 11210

1.003.869,00

1.050.619,00

1.097.368,00

1.136.578,00

1.169.388,00

2. Technical installations and other tangible fixed assets: 11220

181.427,00

192.936,00

178.598,00

106.169,00

146.275,00

3. Tangible asset in progress and advances: 11230

0,00

III. Real estate investment: 11300

0,00

1. Land: 11310

0,00

2. Buildings: 11320

0,00

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

14.640,00

1. Equity instruments: 11410

14.640,00

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

2.003,00

2.915,00

8.790,00

9.263,00

9.427,00

1. Equity instruments: 11510

0,00

2. Credits to third parties : 11520

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

2.003,00

2.915,00

8.790,00

9.263,00

9.427,00

6. Other investments: 11560

0,00

VI. Assets for deferred tax : 11600

0,00

VII. Non-current trade debts : 11700

0,00

B) CURRENT ASSETS: 12000

11.631.925,00

9.922.923,00

8.791.888,00

6.502.192,00

5.583.946,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

4.403.416,00

3.257.468,00

2.643.882,00

1.675.820,00

1.140.356,00

1. Commercial: 12210

2.958.201,00

2.557.487,00

1.904.108,00

1.502.872,00

1.140.356,00

2. Primary material and other supplies: 12220

0,00

699.980,00

739.774,00

0,00

3. Work in progress: 12230

0,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

0,00

4. Finished goods: 12240

0,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

0,00

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

0,00

6. Advances to suppliers: 12260

1.445.215,00

0,00

172.948,00

0,00

III. Trade debtors and others receivable accounts: 12300

6.677.088,00

6.311.178,00

5.941.264,00

4.694.235,00

4.331.154,00

1. Trade debtors / accounts receivable: 12310

6.670.197,00

6.293.886,00

5.941.264,00

4.693.978,00

4.273.184,00

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

0,00

b) Customers for sales and provisions of services : 12312

6.670.197,00

6.293.886,00

5.941.264,00

4.693.978,00

4.273.184,00

2. Customers, Group companies and associates : 12320

0,00

3. Other accounts receivable: 12330

0,00

4. Personnel: 12340

0,00

257,00

0,00

5. Assets for deferred tax: 12350

0,00

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

6.891,00

17.292,00

0,00

57.970,00

7. Called up share capital: 12370

0,00

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

6.653,00

6.119,00

6.100,00

5.735,00

5.364,00

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

6.653,00

6.119,00

6.100,00

5.735,00

5.364,00

6. Other investments: 12460

0,00

V. Short-term financial investments : 12500

0,00

70,00

0,00

490,00

0,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

0,00

70,00

0,00

490,00

0,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

30.680,00

25.758,00

14.662,00

6.852,00

8.314,00

VII. Cash and other equivalent liquid assets : 12700

514.088,00

322.329,00

185.979,00

119.060,00

98.758,00

1. Treasury: 12710

514.088,00

322.329,00

185.979,00

119.060,00

98.758,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

12.868.930,00

11.225.541,00

10.093.384,00

7.773.494,00

6.929.289,00

ORIGINAL

Liabilities and Net Worth

2012

2011

2010

2009

2008

A) NET WORTH: 20000

7.792.475,00

6.141.372,00

5.297.273,00

3.968.335,00

3.056.558,00

A-1) Shareholders' equity: 21000

7.792.475,00

6.141.372,00

5.297.273,00

3.968.335,00

3.056.558,00

I. Capital: 21100

60.100,00

1. Registered capital : 21110

60.100,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

6.081.272,00

5.237.173,00

3.904.272,00

2.993.761,00

2.440.156,00

1. Legal y estatutarias: 21310

12.020,00

12.021,00

12.020,00

2. Other reserves: 21320

6.069.252,00

5.225.153,00

3.892.251,00

2.981.741,00

2.428.136,00

3. Revaluation reserves: 21330

0,00

IV. (Common stock equity): 21400

0,00

V. Results from previous periods: 21500

0,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

1.651.102,00

1.557.099,00

1.332.901,00

914.474,00

556.302,00

VIII. (Interim dividend): 21800

0,00

-713.000,00

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

0,00

B) NON-CURRENT LIABILITIES: 31000

390.306,00

472.906,00

484.259,00

517.972,00

577.977,00

I. Long-term provisions: 31100

16.081,00

20.080,00

21.005,00

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

16.081,00

20.080,00

21.005,00

II Long-term creditors: 31200

322.964,00

399.743,00

419.047,00

477.638,00

531.745,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

78.704,00

155.483,00

174.787,00

233.378,00

279.974,00

3. Creditors from financial leasing: 31230

0,00

7.511,00

4. Derivatives : 31240

0,00

244.260,00

0,00

5. Other financial liabilities : 31250

244.260,00

0,00

244.260,00

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

0,00

IV. Liabilities for deferred tax: 31400

51.262,00

57.082,00

49.132,00

20.254,00

25.227,00

V. Long-term accruals: 31500

0,00

VI. Non-current trade creditors : 31600

0,00

VII. Special long-term debts : 31700

0,00

C) CURRENT LIABILITIES : 32000

4.686.148,00

4.611.263,00

4.311.851,00

3.287.187,00

3.294.754,00

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

0,00

II. Short-term provisions: 32200

0,00

40.430,00

1. Provisions from greenhouse gas emission allowance: 32210

0,00

2. Other provisions: 32220

0,00

III. Short-term creditors : 32300

2.532.139,00

2.682.293,00

2.175.268,00

1.765.466,00

1.594.316,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

2.530.432,00

2.647.633,00

2.118.415,00

1.716.343,00

1.553.712,00

3. Creditors from financial leasing: 32330

0,00

7.347,00

9.061,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

1.706,00

34.660,00

56.853,00

41.776,00

31.543,00

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

0,00

V. Trade creditors and other accounts payable: 32500

2.154.010,00

1.928.970,00

2.136.583,00

1.521.721,00

1.660.008,00

1. Suppliers: 32510

1.432.012,00

1.220.119,00

1.537.244,00

1.052.349,00

1.380.969,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

1.432.012,00

1.220.119,00

1.537.244,00

1.052.349,00

1.380.969,00

2. Suppliers, Group companies and associates: 32520

0,00

3. Other creditors: 32530

392.382,00

414.881,00

336.579,00

233.740,00

135.580,00

4. Personnel (remuneration due): 32540

55.726,00

49.308,00

48.736,00

36.134,00

36.113,00

5. Liabilities for current tax: 32550

228.860,00

205.699,00

178.756,00

158.832,00

84.701,00

6. Other accounts payable to Public Administrations.: 32560

45.030,00

38.963,00

35.268,00

40.666,00

22.645,00

7. Advances from clients: 32570

0,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

12.868.930,00

11.225.541,00

10.093.384,00

7.773.494,00

6.929.289,00

ORIGINAL

Profit and Loss

2012

2011

2010

2009

2008

1. Net turnover: 40100

23.019.765,00

22.201.039,00

17.714.746,00

13.508.078,00

12.524.556,00

a) Sales: 40110

23.018.412,00

22.201.039,00

17.714.746,00

13.508.078,00

12.524.556,00

b) Rendering of services: 40120

1.353,00

0,00

c) Income of financial nature of holding companies: 40130

0,00

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

0,00

15.956,00

0,00

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

0,00

4. Supplies : 40400

-17.799.180,00

-17.395.941,00

-13.709.068,00

-10.331.241,00

-10.159.608,00

a) Stock consumption: 40410

-17.789.827,00

-17.388.419,00

-13.698.911,00

-10.243.056,00

-10.159.432,00

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

-270,00

-33,00

0,00

-793,00

-176,00

c) Works carried out by other companies: 40430

-9.083,00

-7.488,00

-141,00

-6.684,00

0,00

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

0,00

-10.016,00

-80.708,00

0,00

5. Other operating income: 40500

29.981,00

30.721,00

32.115,00

64.532,00

28.995,00

a) Auxiliary income and other from current management: 40510

29.981,00

30.721,00

32.115,00

64.532,00

28.995,00

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

0,00

6. Personnel costs: 40600

-1.097.468,00

-1.059.388,00

-906.069,00

-745.023,00

-735.152,00

a) Wages, salaries et al.: 40610

-912.133,00

-845.350,00

-740.031,00

-612.648,00

-607.443,00

b) Social security costs: 40620

-185.335,00

-214.038,00

-166.038,00

-132.375,00

-127.709,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-1.599.134,00

-1.402.071,00

-1.120.665,00

-1.086.991,00

-640.943,00

a) External services: 40710

-1.410.282,00

-1.285.263,00

-1.094.999,00

-945.957,00

-494.778,00

b) Taxes: 40720

-25.172,00

-35.682,00

-9.745,00

-48.645,00

-69.182,00

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

-163.680,00

-81.126,00

-15.921,00

-92.389,00

-76.983,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-81.357,00

-90.670,00

-84.887,00

-88.084,00

-109.357,00

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

0,00

10. Excess provisions : 41000

0,00

4.000,00

41.355,00

0,00

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

-3.620,00

0,00

86,00

-3.934,00

11.687,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

-3.620,00

0,00

86,00

-3.934,00

11.687,00

c) Impairment and profit due to disposals of assets of holding companies: 41130

0,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

-3.716,00

33.291,00

9.966,00

-1.994,00

12.085,00

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

2.465.271,00

2.316.980,00

1.956.180,00

1.356.698,00

932.263,00

14. Financial income : 41400

7.418,00

22.290,00

1.361,00

5.275,00

9.110,00

a) Of shares in equity instruments : 41410

0,00

a 1) In Group companies and associates: 41411

0,00

a 2) In third parties: 41412

0,00

b) From negotiable securities and other financial instruments : 41420

7.418,00

22.290,00

1.361,00

5.275,00

9.110,00

b 1) From Group companies and associates : 41421

0,00

b 2) From third parties : 41422

7.418,00

22.290,00

1.361,00

5.275,00

9.110,00

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

0,00

15. Financial expenditure: 41500

-103.278,00

-114.460,00

-52.064,00

-57.196,00

-151.487,00

a) Amounts owed to Group companies and associates : 41510

0,00

-35.626,00

0,00

b) For debts with third parties : 41520

-103.278,00

-114.460,00

-16.438,00

-57.196,00

-151.487,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

a) Trading book and other : 41610

0,00

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

0,00

17. Exchange rate differences : 41700

-10.056,00

-299,00

-375,00

5.111,00

-224,00

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

-105.915,00

-92.469,00

-51.078,00

-46.810,00

-142.601,00

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

2.359.356,00

2.224.511,00

1.905.102,00

1.309.888,00

789.662,00

20. Income taxes: 41900

-708.253,00

-667.412,00

-572.201,00

-395.414,00

-233.360,00

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

1.651.102,00

1.557.099,00

1.332.901,00

914.474,00

556.302,00

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

0,00

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

1.651.102,00

1.557.099,00

1.332.901,00

914.474,00

556.302,00

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

Information corresponding to the fiscal year 2012 2011 2010 2009 2008 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. To view details on the methodology 2012 2011 2010 2009 2008 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2012

2011

2010

2009

2008

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

1.237.005,00

1.302.619,00

1.301.496,00

1.271.302,00

1.345.343,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

35.065,00

41.510,00

2.099,00

4.652,00

5.613,00

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:

35.065,00

41.510,00

2.099,00

4.652,00

5.613,00

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:

1.185.297,00

1.243.554,00

1.275.967,00

1.242.747,00

1.315.663,00

1. Land and construction:

1.003.869,00

1.050.619,00

1.097.368,00

1.136.578,00

1.169.388,00

2. Technical installations and machinery:

56.987,00

60.602,00

56.099,00

33.348,00

45.946,00

3. Other installations, tools and furniture:

75.667,00

80.466,00

74.487,00

44.279,00

61.006,00

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

0,00

5. Other tangible assets:

48.774,00

51.867,00

48.013,00

28.542,00

39.323,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

16.643,00

17.555,00

23.430,00

23.903,00

24.067,00

1. Equity investments in group companies:

14.640,00

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:

0,00

7. Long term guarantees and deposits:

2.003,00

2.915,00

8.790,00

9.263,00

9.427,00

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:

11.631.925,00

9.922.923,00

8.791.888,00

6.502.192,00

5.583.946,00

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

0,00

II. Stocks:

4.403.416,00

3.257.468,00

2.643.882,00

1.675.820,00

1.140.356,00

1. Goods for resale:

2.958.201,00

2.557.487,00

1.904.108,00

1.502.872,00

1.140.356,00

2. Raw materials and other consumables:

0,00

699.980,00

739.774,00

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:

1.445.215,00

0,00

172.948,00

0,00

7. Provisions:

0,00

III. Debtors:

6.677.088,00

6.311.178,00

5.941.264,00

4.694.235,00

4.331.154,00

1. Trade debtors / accounts receivable:

6.670.197,00

6.293.886,00

5.941.264,00

4.693.978,00

4.273.184,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

0,00

5. Staff:

0,00

257,00

0,00

6. Public bodies:

6.891,00

17.292,00

0,00

57.970,00

7. Provisions:

0,00

IV. Short-term investments:

6.653,00

6.190,00

6.100,00

6.225,00

5.364,00

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:

6.653,00

6.119,00

6.100,00

5.735,00

5.364,00

7. Shor term guarantees and deposits:

0,00

70,00

0,00

490,00

0,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

514.088,00

322.329,00

185.979,00

119.060,00

98.758,00

VII. Prepayments and accrued income:

30.680,00

25.758,00

14.662,00

6.852,00

8.314,00

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

12.868.930,00

11.225.541,00

10.093.384,00

7.773.494,00

6.929.289,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2012

2011

2010

2009

2008

A) EQUITY:

7.792.475,00

6.141.372,00

5.541.534,00

3.968.335,00

3.056.558,00

I. Subscribed capital:

60.100,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

6.081.272,00

5.237.173,00

4.148.533,00

2.993.761,00

2.440.156,00

1. Legal reserve:

12.020,00

12.021,00

12.020,00

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:

6.069.249,00

5.225.150,00

4.136.509,00

2.981.739,00

2.428.135,00

Differences due to capital adjustement to euros:

3,00

2,00

1,00

V. Profit or loss brought forward:

0,00

1. Retained earnings:

0,00

2. Prior year losses:

0,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

1.651.102,00

1.557.099,00

1.332.901,00

914.474,00

556.302,00

VII. Interim dividend paid:

0,00

-713.000,00

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:

16.081,00

20.080,00

21.005,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

16.081,00

20.080,00

21.005,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

374.226,00

456.826,00

223.918,00

497.892,00

556.972,00

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:

78.704,00

155.483,00

174.787,00

233.378,00

287.485,00

1. Loans and other liabilities:

78.704,00

155.483,00

174.787,00

233.378,00

279.974,00

2. Long-term liabilities from capital leases:

0,00

7.511,00

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:

295.522,00

301.343,00

49.132,00

264.514,00

269.487,00

1. Long-term bills of exchange payable:

0,00

53.801,00

2. Other creditors:

244.260,00

0,00

190.459,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

51.262,00

57.082,00

49.132,00

20.254,00

25.227,00

V. Unpaid portion of equity investment:

0,00

1. Group companies:

0,00

2. Associated companies:

0,00

3. Third parties:

0,00

VI. Long term trade creditors:

0,00

E) SHORT TERM CREDITORS:

4.686.148,00

4.611.263,00

4.311.851,00

3.287.187,00

3.254.324,00

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:

2.530.432,00

2.647.633,00

2.118.415,00

1.723.690,00

1.562.773,00

1. Loans and other liabilities:

2.530.432,00

2.647.633,00

2.118.415,00

1.716.343,00

1.553.712,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

0,00

7.347,00

9.061,00

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:

1.824.394,00

1.635.000,00

1.873.823,00

1.286.089,00

1.516.549,00

1. Advanced payments from customers:

0,00

2. Amounts owed for purchases of goods or services:

1.824.394,00

1.635.000,00

1.873.823,00

1.286.089,00

1.516.549,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

331.322,00

328.630,00

319.613,00

277.408,00

175.002,00

1. Public bodies:

273.889,00

244.662,00

214.024,00

199.498,00

107.346,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

1.706,00

34.660,00

56.853,00

41.776,00

31.543,00

4. Wages and salaries payable:

55.726,00

49.308,00

48.736,00

36.134,00

36.113,00

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

40.430,00

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

12.868.930,00

11.225.541,00

10.093.384,00

7.773.494,00

6.929.289,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2012

2011

2010

2009

2008

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

21.406.062,00

20.730.241,00

16.445.329,00

12.709.877,00

12.030.131,00

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

0,00

A.2. Supplies:

17.799.180,00

17.395.941,00

13.699.051,00

10.250.533,00

10.159.608,00

a) Stock consumption:

17.789.827,00

17.388.419,00

13.698.911,00

10.243.056,00

10.159.432,00

b) Consumption of raw materials and miscellaneous consumable ones:

270,00

33,00

0,00

793,00

176,00

c) Miscellaneous external expenditure:

9.083,00

7.488,00

141,00

6.684,00

0,00

A.3. Staff costs:

1.097.468,00

1.059.388,00

906.069,00

745.023,00

735.152,00

a) Wages, salaries et al.:

912.133,00

845.350,00

740.031,00

612.648,00

607.443,00

b) Social security costs:

185.335,00

214.038,00

166.038,00

132.375,00

127.709,00

A.4. Depreciation expense:

81.357,00

90.670,00

84.887,00

88.084,00

109.357,00

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

163.680,00

81.126,00

25.938,00

173.097,00

76.983,00

a) Stock provision variation:

0,00

10.016,00

80.708,00

0,00

b) Variation in provision and bad debt losses:

163.680,00

81.126,00

15.921,00

92.389,00

76.983,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

1.435.454,00

1.320.945,00

1.104.744,00

994.602,00

563.960,00

a) External services:

1.410.282,00

1.285.263,00

1.094.999,00

945.957,00

494.778,00

b) Taxes:

25.172,00

35.682,00

9.745,00

48.645,00

69.182,00

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):

2.472.607,00

2.283.690,00

1.946.128,00

1.362.626,00

908.491,00

A.7. Financial and similar charges:

103.278,00

114.460,00

52.064,00

57.196,00

151.487,00

a) Due to liabilities with companies of the group:

0,00

35.626,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

103.278,00

114.460,00

16.438,00

57.196,00

151.487,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

10.056,00

299,00

375,00

0,00

224,00

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):

2.366.692,00

2.191.220,00

1.895.050,00

1.315.816,00

765.890,00

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

0,00

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

3.620,00

0,00

3.934,00

0,00

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

0,00

A.13. Extraordinary expenses:

3.716,00

0,00

1.994,00

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):

0,00

33.291,00

10.052,00

0,00

23.772,00

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

2.359.356,00

2.224.511,00

1.905.102,00

1.309.888,00

789.662,00

A.15. Corporation tax:

708.253,00

667.412,00

572.201,00

395.414,00

233.360,00

A.16. Miscellaneous taxes:

0,00

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

1.651.102,00

1.557.099,00

1.332.901,00

914.474,00

556.302,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2012

2011

2010

2009

2008

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

23.057.165,00

22.287.340,00

17.778.230,00

13.624.351,00

12.586.433,00

B.1. Net total sales:

23.019.765,00

22.201.039,00

17.714.746,00

13.508.078,00

12.524.556,00

a) Sales:

23.042.751,00

22.224.513,00

17.733.477,00

13.522.361,00

12.537.799,00

b) Rendering of services:

1.353,00

0,00

Returns and Rappel on sales:

-24.339,00

-23.475,00

-18.731,00

-14.283,00

-13.243,00

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

0,00

15.956,00

0,00

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

0,00

B.4. Miscellaneous operating income:

29.981,00

30.721,00

36.114,00

105.887,00

28.995,00

a) Auxiliary income and other from current management:

29.981,00

30.721,00

32.115,00

64.532,00

28.995,00

b) Grants:

0,00

c) Liabilities and charges provisions surplus:

0,00

4.000,00

41.355,00

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:

7.418,00

22.290,00

1.361,00

5.275,00

9.110,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

7.418,00

22.290,00

1.361,00

5.275,00

9.110,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

0,00

5.111,00

0,00

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

105.915,00

92.469,00

51.078,00

46.810,00

142.601,00

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

86,00

0,00

11.687,00

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

33.291,00

9.966,00

0,00

12.085,00

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):

7.336,00

0,00

5.928,00

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.

2012

2011

2010

2009

2008

1. Fiscal year result before taxes.: 61100

2.359.355,00

2.224.511,00

1.905.102,00

1.309.888,00

789.662,00

2. Results adjustments.: 61200

354.606,00

230.973,00

121.879,00

271.301,00

317.254,00

a) Fixed Assets Amortization (+).: 61201

81.358,00

90.669,00

84.888,00

88.084,00

109.357,00

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

163.680,00

81.125,00

-34,00

173.097,00

76.983,00

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

0,00

-4.000,00

-41.355,00

0,00

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

3.620,00

0,00

-86,00

3.934,00

-11.687,00

g) Financial income (-).: 61207

-7.418,00

-22.290,00

-1.361,00

-5.275,00

-9.110,00

h) Financial Expenses (+). : 61208

103.278,00

114.460,00

52.063,00

57.196,00

151.487,00

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

10.055,00

300,00

375,00

-5.111,00

224,00

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

33,00

-33.291,00

-9.966,00

731,00

0,00

3. Changes in current capital equity.: 61300

-1.488.567,00

-1.058.638,00

-976.289,00

-1.412.581,00

202.150,00

a) Stock (+/-).: 61301

-400.714,00

-653.379,00

-385.281,00

-443.224,00

174.047,00

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

-539.991,00

-352.622,00

-1.247.286,00

-363.082,00

-102.779,00

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

5.549,00

-28.389,00

-7.552,00

1.462,00

-8.314,00

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

-565.896,00

-238.822,00

20.908,00

-385.366,00

283.802,00

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

12.485,00

214.574,00

643.882,00

-222.371,00

-144.606,00

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

0,00

-960,00

0,00

4. Other cash flows for operating activities.: 61400

-786.803,00

-724.700,00

-574.102,00

-448.650,00

-413.483,00

a) Interest payments (-). : 61401

-103.278,00

-114.460,00

-52.063,00

-57.196,00

-151.487,00

c) Interest collection (+). : 61403

7.061,00

22.054,00

0,00

5.275,00

9.110,00

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

-690.586,00

-632.294,00

1.302,00

-396.729,00

-271.106,00

e) Other payments (payment collection) (-/+) : 61405

0,00

-523.341,00

0,00

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

438.591,00

672.146,00

476.590,00

-280.042,00

895.583,00

6. Payments for investment (-).: 62100

-42.526,00

-120.247,00

-107.411,00

-43.412,00

-41.783,00

a) Companies of the group and affiliates. : 62101

-534,00

-19,00

-365,00

-371,00

-340,00

b) Intangible fixed assets. : 62102

0,00

-47.540,00

0,00

-3.648,00

0,00

c) Fixed assets. : 62103

-41.992,00

-72.563,00

-106.995,00

-38.232,00

-33.434,00

e) Other financial assets. : 62105

0,00

-125,00

-51,00

-1.161,00

-8.009,00

7. Divestment payment collection (+). : 62200

912,00

6.000,00

1.097,00

12.835,00

26.518,00

c) Fixed assets. : 62203

0,00

83,00

12.000,00

25.862,00

e) Other financial assets. : 62205

912,00

6.000,00

1.014,00

835,00

656,00

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

-41.614,00

-114.247,00

-106.314,00

-30.577,00

-15.265,00

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

0,00

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

0,00

110.310,00

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

-205.217,00

291.450,00

-303.357,00

330.921,00

-849.907,00

a) Issuance : 63201

0,00

299.607,00

0,00

340.146,00

0,00

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

0,00

299.607,00

0,00

338.406,00

0,00

5. Other debts (+). : 63206

0,00

1.740,00

0,00

b) Repayment and amortization of : 63207

-205.217,00

-8.157,00

-303.357,00

-9.225,00

-849.907,00

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

-193.980,00

0,00

-293.197,00

0,00

-835.370,00

5. Other debts (-). : 63212

-11.237,00

-8.157,00

-10.160,00

-9.225,00

-14.537,00

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

0,00

-713.000,00

0,00

a) Dividends (-).: 63301

0,00

-713.000,00

0,00

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

-205.217,00

-421.550,00

-303.357,00

330.921,00

-849.907,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

191.760,00

136.349,00

66.919,00

20.302,00

30.411,00

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

322.328,00

185.979,00

119.060,00

98.758,00

68.347,00

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

514.088,00

322.328,00

185.979,00

119.060,00

98.758,00

�

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

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,01 %

0,00 %

35,62 %

EBITDA over Sales:

11,09 %

9,24 %

10,69 %

10,07 %

3,74 %

-8,29 %

Cash Flow Yield:

0,01 %

0,00 %

0,01 %

0,00 %

22,68 %

Profitability

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

19,22 %

5,22 %

20,39 %

6,90 %

-5,72 %

-24,31 %

Total economic profitability:

19,14 %

2,49 %

20,84 %

4,13 %

-8,16 %

-39,68 %

Financial profitability:

21,19 %

1,32 %

25,35 %

5,86 %

-16,43 %

-77,53 %

Margin:

10,71 %

4,85 %

10,27 %

6,36 %

4,28 %

-23,64 %

Mark-up:

10,25 %

1,59 %

9,86 %

4,71 %

4,02 %

-66,31 %

Solvency

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,11

0,12

0,07

0,11

56,94

8,86

Acid Test:

1,54

0,85

1,44

0,83

6,67

2,07

Working Capital / Investment:

0,54

0,03

0,47

0,03

14,07

2,14

Solvency:

2,48

1,17

2,15

1,17

15,35

0,71

Indebtedness

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,65

1,63

0,82

1,67

-21,26

-2,19

Borrowing Composition:

0,08

1,03

0,10

1,05

-19,39

-2,69

Repayment Ability:

26,39

190,09

37,17

884,40

-29,00

-78,51

Warranty:

2,54

1,62

2,21

1,61

14,81

0,85

Generated resources / Total creditors:

0,34

0,07

0,33

0,07

5,30

-4,17

Efficiency

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

3,33

1,73

3,24

1,75

2,65

-1,39

Turnover of Collection Rights :

3,45

4,79

3,52

4,45

-2,00

7,61

Turnover of Payment Entitlements:

9,01

3,52

9,75

3,26

-7,59

7,98

Stock rotation:

4,67

6,49

6,12

6,00

-23,69

8,18

Assets turnover:

1,79

1,08

1,98

1,09

-9,59

-0,88

Borrowing Cost:

2,04

2,95

2,26

2,92

-9,63

1,22

> Trend of indicators under the General Accounting Plan of 2007 (2012, 2011, 2010, 2009, 2008)

Cash Flow

2012

2011

2010

2009

2008

Cash Flow over Sales:

0,01 %

0,00 %

0,15 %

0,24 %

EBITDA over Sales:

11,09 %

10,69 %

11,44 %

10,43 %

8,13 %

Cash Flow Yield:

0,01 %

0,26 %

0,44 %

Profitability

2012

2011

2010

2009

2008

Operating economic profitability:

19,22 %

20,39 %

19,34 %

17,55 %

13,34 %

Total economic profitability:

19,14 %

20,84 %

19,39 %

17,59 %

13,58 %

Financial profitability:

21,19 %

25,35 %

25,16 %

23,04 %

18,20 %

Margin:

10,71 %

10,27 %

10,97 %

10,01 %

7,33 %

Mark-up:

10,25 %

9,86 %

10,68 %

-0,33 %

-1,23 %

Solvency

2012

2011

2010

2009

2008

Liquidity:

0,11

0,07

0,04

0,03

Acid Test:

1,54

1,44

1,42

1,47

1,36

Working Capital / Investment:

0,54

0,47

0,44

0,41

0,34

Solvency:

2,48

2,15

2,04

1,98

1,72

Indebtedness

2012

2011

2010

2009

2008

Indebtedness level:

0,65

0,82

0,90

0,95

1,24

Borrowing Composition:

0,08

0,10

0,11

0,15

0,17

Repayment Ability:

26,39

37,17

71,43

3,93

-6,19

Warranty:

2,54

2,21

2,11

2,05

1,82

Generated resources / Total creditors:

0,34

0,33

0,30

0,29

0,17

Efficiency

2012

2011

2010

2009

2008

Productivity:

3,33

3,24

2,89

2,38

Turnover of Collection Rights :

3,45

3,52

2,99

2,89

2,90

Turnover of Payment Entitlements:

9,01

9,75

6,95

7,50

6,51

Stock rotation:

4,67

6,12

5,98

7,31

10,21

Assets turnover:

1,79

1,98

1,76

1,75

1,82

Borrowing Cost:

2,04

2,26

1,09

1,51

3,97

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

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

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.62.27
UK Pound	1	Rs.96.21
Euro	1	Rs.70.60

INFORMATION DETAILS

Analysis Done by :	SUB

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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Enquiry Details

Number of Employees

Chronological Summary

Breakdown of Owners' Equity

Active Social Bodies

Historical Social Bodies

Executive board

Defaults, Legal Claims and Insolvency Proceedings

Probability of default

CASHFLOW STATEMENT

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Research Summary

Sources

Unit