Company name and address

Supervisory Board

General data

Main activity

Commercial name

Export

Import

General contacts

Residence address

Employees

Remarks

Bank relations

Company development

Business course

Terms of payment

Business connection

Balance sheets

Balance

Copyright

MIRA INFORM REPORT

Report No. :	328427
Report Date :	27.06.2015

IDENTIFICATION DETAILS

Name :	STAPPERT SLOVENSKO A. S.

Registered Office :	Šimonovská 37, 972 71 Nováky

Country :	Slovakia

Financials (as on) :	31.12.2013

Date of Incorporation :	01.01.1995

Com. Reg. No.:	Sa 266/R

Legal Form :	Company Limited by Shares

Line of Business :	Non-specialised wholesale trade

No. of Employee :	32 (2015)

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)

Slovakia

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

SLOVAKIA - ECONOMIC OVERVIEW

Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. With a population of 5.4 million, the Slovak Republic has a small, open economy, with exports, at about 92% of GDP, serving as the main driver of GDP growth. Slovakia joined the European Union (EU) in 2004 and the Eurozone in 2009. The country’s banking sector is sound. Slovakia has led the region garnering FDI, because of its relatively low-cost, highly-skilled labor force, reasonable tax rates, and favorable geographic location in the heart of Central Europe. However, recent increases in corporate taxes, as well as changes to the Labor Code, slow dispute resolution, and ongoing corruption potentially threaten the attractiveness of the Slovak market. Moreover, the energy sector is characterized by high costs, unpredictable regulatory oversight, and growing government interference.

Source : CIA

STAPPERT SLOVENSKO A. S.

Šimonovská 37, 972 71 Nováky

Phone: 046/5183420
Telefax: 046/5183430
E-Mail: slovensko@stappert.biz
Web: www.stappert.biz

Legal form

Company limited by shares

Established on	01/01/1995 - Company limited by shares
	Last entry in Business register

	14.11.2012
Registered on	31/01/1995, Okresný súd Trenčín, RegNr.: Sa 266/R Tax number: SK2020468769 Statistical number: 31623158

Registered capital
	31/01/1995		EUR		33 193,92
		11/04/2003		EUR		37 675,10

	17/08/2004	EUR	49 790,88
	01/01/2009	EUR	51 000,00


Shareholder
Stappert Deutschland GmbH Willstätterstrasse 15, 405 49 Düsseldorf, Germany
Management Ing. Marián Kotrík ul. 29. augusta 555/30, 972 45 Bystričany - Vieska chairman authorized to sign alone

Edgar Hartelmüller
Dobrastrasse 18, A-2344 Maria Enzersdorf, Austria
vice-chairman
authorized to sign alone

Eric Michel Jacquet
Chemin du Couter 23, 694 50 Saint Cyr au Mont d´Or, France
Member
authorized to sign alone

Philippe Goczol
Chemin des Acquits, Comberousse 1, 387 90 Saint Georges d´Espéranche, France
Member
authorized to sign alone

Peter Kolz
Schumannsdieken 35, 408 85 Ratingen, Germany

Thierry Robert Arthur Philippe
Rue Duquesne 10, 690 06 Lyon, France

Wolfgang Hartmann
Am Spick 24, 406 68 Meerbusch, Germany

mediation in the sale of fuels, ores, metals
and industrial chemicals

Non-specialised wholesale trade

KUPA, a.s.
Beginning of validity: 31.01.1995
End of validity: 21.03.2005

IMS KUPA, a.s.
Beginning of validity: 22.03.2005
End of validity: 30.09.2012

Germany
Austria
Czech Republic
Hungary
Poland
Netherlands

Germany
Austria
Czech Republic
Italy
France
Poland
Netherlands

99%

Phone:
046/5183420
E-Mail:
slovensko@stappert.biz
Web:
www.stappert.biz

Šimonovská 37, 972 71 Nováky
Beginning of validity: 05.12.2006

Košovská cesta 24, 971 01 Prievidza
Beginning of validity: 11.04.2003
End of validity: 04.12.2006

Hurbanovo nám. 29, 972 01 Bojnice
Beginning of validity: 31.01.1995
End of validity: 10.04.2003

	2013	30 employees
	2015	32 employees

	2006	Enterprise turnover	EUR	16 708 325,-
	2007	Enterprise turnover	EUR	22 946 458,-

	2008	Enterprise turnover	EUR	20 560 047,-
	2009	Enterprise turnover	EUR	12 886 160,-

	2010	Enterprise turnover	EUR	17 398 861,-
	2011	Enterprise turnover	EUR	18 075 577,-

	2012	Enterprise turnover	EUR	17 613 090,-
	2013	Enterprise turnover	EUR	18 149 420,-

The company refused to provide own data.
Other informations are not available.
According to the Commercial register the actual figures were not published on the Internet despite the statutory duty.

Komerční banka Bratislava, a.s.:

ČSOB a.s.:

Slovenská sporiteľňa, a.s.:

Company development constant

satisfactory

Mostly within agreed terms, but partly also delayed

Credits are not rejected. The establishing of the business connection may be allowed.

The enclosed balance of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)
The enclosed balance of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)
The enclosed balance of 2011 is originated from official source, it is authenticated by the auditor. (31.12.2011 - 1 EUR)

The enclosed profit/loss account of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)
The enclosed profit/loss account of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)
The enclosed profit/loss account of 2011 is originated from official source, it is authenticated by the auditor. (31.12.2011 - 1 EUR)

A. The enclosed balance of 2010 is originated from official source, it is authenticated by the auditor. (31.12.2010 - 1 EUR)
B. The enclosed balance of 2011 is originated from official source, it is authenticated by the auditor. (31.12.2011 - 1 EUR)
C. The enclosed balance of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)
D. The enclosed balance of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)

	A 31.12.2010	B 31.12.2011	C 31.12.2012	D 31.12.2013
Total assets	8 152 682	7 251 181	7 250 214	6 615 556
Non-current assets	2 345 615	2 147 732	1 970 733	1 854 152
Intangible fixed assets	91 514	70 803	50 398	31 255
Development expenses	0	0	0	0
Software	85 615	65 827	46 442	28 319
Valuable rights	5 899	4 976	3 956	2 936
Incorporation expenses	0		0
Goodwill	0	0	0	0
Other intangible fixed assets	0	0	0	0
Acquisition of intangible fixed assets	0	0	0	0
Advance payments for intangible fixed assets	0	0	0	0
Tangible fixed assets – total	2 254 101	2 076 929	1 920 335	1 822 897
Lands	3 336	3 336	3 336	3 336
Constructions	1 735 389	1 665 279	1 595 256	1 525 321
Separate movable assets and sets of movable assets	465 338	358 276	271 705	243 902
Perennial crops	0	0	0	0
Breeding and draught animals	0	0	0	0
Other tangible fixed assets	0	0	0	0
Acquisition of tangible fixed assets	50 038	50 038	50 038	50 338
Advance payments for tangible fixed assets	0	0	0	0
Adjustment to acquired assets	0	0	0	0
Long-term financial investments	0	0	0	0
Shares and ownership interests with control influence in enterprises	0	0	0	0
Shares and ownership interests with substantial influence of enterprises	0	0	0	0
Other long-term shares and ownership interests	0	0	0	0
Intercompany loans	0	0	0	0
Other long-term financial investments	0	0	0	0
Loans with maturity up to one year	0	0	0	0
Acquisition of long-term financial investments	0	0	0	0
Advance payments for long-term assets	0	0	0	0
Current assets	5 801 681	5 098 564	5 273 962	4 755 642
Inventory - total	1 994 985	1 894 882	1 969 369	1 849 170
Material	15 353	12 402	18 059	13 736
Work-in-progress and semi-finished goods	0	0	0	0
Construction contracts where the expected time of completion exceeds one year	0		0
Finished products	0	0	0	0
Animals	0	0	0	0
Merchandise	1 979 632	1 882 480	1 951 310	1 835 434
Advance payments made for inventory	0	0	0	0
Long-term receivables – total	13 680	16 210	58 334	20 005
Trade receivables	0	0	0	0
Net value of contract		0	0	0
Receivables from a controlled entity and a controlling entity	0	0	0	0
Other intercompany receivables	0	0	0	0
Receivables from participants, members and association	0	0	0	0
Other receivables	0	0	0	0
Deffered tax asset	13 680	16 210	58 334	20 005
Short - term receivables – total	2 099 237	2 060 946	3 165 442	2 878 106
Trade receivables	2 095 794	2 058 968	3 163 081	2 877 669
Net value of contract		0	0	0
Receivables from a controlled entity and a controlling entity	0	0	0	0
Other intercompany receivables	865	1 212	7	0
Receivables from participants, members and association	0	0	0	0
Social security	0	0	0	0
Taxation and subsidies	0	716	115	158
Other receivables	2 578	50	2 239	279
Financial accounts – total	1 693 779	1 126 526	80 817	8 361
Cash	3 275	3 546	1 221	1 585
Bank accounts	1 690 504	1 122 980	79 596	6 776
Bank accounts with notice period exceeding one year	0	0	0	0
Short-term financial assets	0	0	0	0
Acquisition of short-term financial assets	0	0	0	0
Prepayments	5 386	4 885	5 519	5 762
Deferred expenses long term	99	24	0	0
Deferred expenses short term	5 287	4 861	5 519	5 762
Accrued revenues long term	0	0	0	0
Accrued revenues short term	0	0	0	0
Total capital and liabilities	8 152 682	7 251 181	7 250 214	6 615 556
Capital	733 708	862 422	1 106 730	1 727 497
Registered capital - total	51 000	51 000	51 000	51 000
Registered capital – total	51 000	51 000	51 000	51 000
Own shares and own business shares	0	0	0	0
Change in registered capital	0	0	0	0
Receivables for subscriptions (for own equity capital)	0	0	0	0
Capital funds – total	1 948 118	1 948 118	1 948 118	1 948 118
Share premium	448 118	448 118	448 118	448 118
Other capital funds	1 500 000	1 500 000	1 500 000	1 500 000
Legal reserve fund (Non-distributable fund) from capital contributions	0	0	0	0
Gains or losses from revaluation of assets and liabilities	0	0	0	0
Gains or losses from investments	0	0	0	0
Differences from revaluation in the event of a merger, amalgamation into a separate accounting entity or demerger	0	0	0	0
Funds created from profit – total	13 586	13 586	13 586	13 586
Legal reserve fund	13 586	13 586	13 586	13 586
Indivisible funds	0	0	0	0
Statutory funds and other funds	0	0	0	0
Retained profit or loss from previous years	-1 662 596	-1 278 996	-1 150 282	-905 974
Retained earnings from previous years	327 192	710 792	839 506	1 083 814
Retained earnings from previous years	-1 989 788	-1 989 788	-1 989 788	-1 989 788
Profit or loss for the accounting period	383 600	128 714	244 308	620 767
Liabilities	7 418 768	6 388 511	6 143 484	4 888 059
Reserves – total	100 123	32 932	45 354	91 283
Legal provisions	0	0	0	0
Legal reserves short term	28 123	18 867	18 081	17 470
Other provisions	0	0	0	0
Other short-term reserves	72 000	14 065	27 273	73 813
Long-term liabilities - total	83 988	100 880	84 308	52 092
Long-term trade liabilities – total	0	0	0	0
Net value of contract		0	0	0
Uninvoiced long-term supplies	0	0	0	0
Long-term liabilities to a controlled entity and a controlling entity	0	0	0	0
Other intercompany long-term liabilities	0	0	0	0
Long-term advances received	0	0	0	0
Long-term bills of exchange to a paid	0	0	0	0
Bonds issued	0	0	0	0
Liabilities from social fund	2 550	3 616	4 679	5 804
Other long-term liabilities	0	0	0	0
Deffered tax liability	81 438	97 264	79 629	46 288
Short-term liabilities - total	7 234 657	6 254 699	4 789 501	2 288 743
Trade liabilities	2 071 328	1 979 852	2 960 128	2 055 800
Net values of contract		0	0	0
Uninvoiced supplies	624	1 673	1 408	120
Liabilities to a controlled entity and a controlling entity	4 935 709	4 012 599	1 500 000	0
Other intercompany liabilities	0	0	0	0
Liabilities to partners and participants in association	0	0	0	0
Liabilities to employees	25 814	26 191	27 076	27 948
Social security liabilities	17 559	17 846	21 412	23 985
Taxation and subsidies	176 254	213 384	274 091	175 871
Other liabilities	7 369	3 154	5 386	5 019
Short-term financial assistance	0	0	0	0
Bank loans	0	0	1 224 321	2 455 941
Long-term bank loans	0	0	736 109	1 361 141
Current bank loans	0	0	488 212	1 094 800
Prepayments - total	206	248	0	0
Accrued expenses long term	0	0	0	0
Accrued expenses short term	206	248	0	0
Deferred revenues long term	0	0	0	0
Deferred revenues short term	0	0	0	0
A. The enclosed profit/loss account of 2010 is originated from official source, it is authenticated by the auditor. (31.12.2010 - 1 EUR) B. The enclosed profit/loss account of 2011 is originated from official source, it is authenticated by the auditor. (31.12.2011 - 1 EUR) C. The enclosed profit/loss account of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR) D. The enclosed profit/loss account of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR) profit/loss account

	A 31.12.2010	B 31.12.2011	C 31.12.2012	D 31.12.2013
Revenue from the sale of merchandise	17 386 534	18 075 186	17 523 639	18 049 310
Cost of merchandise sold	15 013 682	16 086 769	15 467 981	15 428 646
Trade margin	2 372 852	1 988 417	2 055 658	2 620 664
Production	12 337	391	89 451	100 110
Revenue from the sale of own products and services	12 327	391	89 451	100 110
Change in inventory	0	0	0	0
Own work capitalized	10	0	0	0
Purchased consumables and services	650 464	689 810	852 298	985 950
Consumed raw materials, energy consumption and consumption of other non-inventory supplies	113 304	95 410	88 400	128 829
Services	537 160	594 400	763 898	857 121
Added value	1 734 725	1 298 998	1 292 811	1 734 824
Personnel expenses - total	849 081	726 827	727 614	825 773
Wages and salaries	533 897	419 618	446 302	489 935
Remuneration of board members	135 267	125 627	97 286	129 470
Social security expenses	161 637	161 301	164 513	185 248
Social expenses	18 280	20 281	19 513	21 120
Taxes and fees	18 272	17 813	13 209	12 776
Depreciation expense of intangible and tangible fixed assets	267 559	211 245	185 709	172 327
Revenue from the sale of non-current intangible assets, property, plant and equipment, and raw materials	25 503	8 368	8 878	2 959
Net book value of fixed assets sold and material sold	0	0	1 303	0
Value adjustments to receivables	-61 573	-96 740	-24 293	-35 012
Other operating revenues	61 218	413 874	260 972	29 918
Other operating expenses	97 718	507 160	311 202	46 982
Transfer of operating revenues	0	0	0	0
Transfer of operating expenses	0	0	0	0
Profit or loss from operations	650 389	354 935	347 917	744 855
Revenues from sales of shares and ownership	0	0	0	0
Shares and ownership interests sold	0	0	0	0
Revenues from long-term financial assest	0	0	0	0
Revenues from ownership interests with control influence in enterprises and ownership interests with substantial influence of enterprises	0	0	0	0
Revenues from other long-term ownership and shares	0	0	0	0
Revenues from other long-term financial assest	0	0	0	0
Revenues from short-term financial assest	0	0	0	0
Expenses for short-term financial assets	0	0	0	0
Revenues from revaluation of securities and revenues from derivative operations	0	0	0	0
Expenses for revaluation of securities and expenses for derivative operations	0	0	0	0
Value adjustments to financial assets	0	0	0	0
Interest income	1 819	4 926	2 453	85
Interest expense	184 670	154 221	105 284	69 950
Exchange rate gains	2	0	0	0
Exchanges rate losses	0	0	0	1
Other financial revenues	1	41	2 066	8 012
Other financial expenses	56 213	63 619	62 584	57 157
Transfer of financial revenues	0	0	0	0
Transfer of financial expenses	0	0	0	0
Profit or loss from financial activities	-239 061	-212 873	-163 349	-119 011
Profit or loss from ordinary activities before tax	411 328	142 062	184 568	625 844
Income tax on ordinary activities	27 728	13 348	-59 740	5 077
- current	0	52	18	89
- deferred	27 728	13 296	-59 758	4 988
Profit or loss from ordinary activities after tax	383 600	128 714	244 308	620 767
Extraordinary revenues	0	0	0	0
Extraordinary expenses	0	0	0	0
Profit or loss from extraordinary activities before tax	0	0	0	0
Income tax on extraordinary activities	0	0	0	0
- current	0	0	0	0
- deferred	0	0	0	0
Profit or loss from extraordinary activities after tax	0	0	0	0
Profit or loss of the accounting period before tax	411 328	142 062	184 568	625 844
Transfer of profit or loss to partners	0	0	0	0
Profit or loss of the accounting period after tax	383 600	128 714	244 308	620 767
Receivables after due date			795 936	732 321
Liabilities after due date			0	0
Ratios

		2010	2011	2012	2013
	Return on total assets ROA (in %)	4,71	1,78	3,37	9,38

	Return on equity ROE (in %)	52,28	14,92	22,07	35,93
	Return on sales ROS (in %)	2,2	0,71	1,39	3,42

	Turnover of receivables (in days)	43,97	41,58	65,55	57,87
	Turnover of liabilities (in days)	43,45	39,98	61,34	41,34

	Turnover of inventories (days)	41,85	38,26	40,81	37,19
	Net working capital	-1432976	-1156135	-3751	1372099

	Ratio of accounts payable to accounts receivable	28,87	32,68	66,14	124
	Ratio of profit/loss to tangible assets (in%)	13,48	11,88	11,19	10,22

	Current ratio	0,8	0,81	0,99	1,4
	Quick ratio	0,52	0,51	0,62	0,85

	Cash ratio	0,23	0,18	0,02	0
	Debt ratio I (in %)	91	88,11	84,74	73,89

Debt ratio II (in %)

88,1

84,74

73,89

according to statistics

Annual turnover

Enterprise turnover

Creditreform, s.r.o., Slovakia

Credit reports provided by Creditreform are intended solely for the recipient. Content of the credit report is determined in accordance to the data protection law of the respective country. When purchasing a credit report the recipient agrees to the following conditions. Creditreform accepts no liability – excluding deliberate acts – in respect to the contents of the credit report being correct or that the recipient can use it for the intended purposes. The same applies to legal representatives or agents of Creditreform. The recipient may only process or use the provided data for the purpose of which they have been transmitted; disclosure to third parties is not permitted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.60
UK Pound	1	Rs.100.09
Euro	1	Rs.71.23

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ASH

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%)

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