MIRA INFORM REPORT

Report No. :	309978
Report Date :	05.03.2015

IDENTIFICATION DETAILS

Name :	PRYSMIAN SPAIN SA
Registered Office :	Crta. C-15, Km 2. Vilanova I La Geltru Barcelona 08800
Country :	Spain
Financials (as on) :	31.12.2013
Date of Incorporation :	14.07.10975
Legal Form :	Public Company
Line of Business :	Subject is engaged in manufacture of low voltage (LV), medium voltage (MV), high voltage (AT), special cables and accessories related to the world of energy; fiber optic cables, cable systems for data transmission and image in high voltage lines and installation services and technical advice to projects "turnkey".
No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Spain	A2	A1

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:	PRYSMIAN SPAIN SA
NIF / Fiscal code:	A08395162
Status:	ACTIVE
Incorporation Date:	14/07/1975
Register Data	Register Section 8 Sheet 7192
Last Publication in BORME:	25/02/2015 [Appointments]
Last Published Account Deposit:	2013
Share Capital:	58.178.234,22
Localization:	CRTA. C-15, KM 2. - VILANOVA I LA GELTRU - 08800 - BARCELONA
Telephone - Fax - Email - Website:	Ph.:. 935 748 383�� Email. info@draka.es�� Website. www.es.prysmiangroup.com
Activity:
NACE:	2732 - Manufacture of other electronic and electric wires and cables
Registered Trademarks:
Audited / Opinion:	Si /
Tenders and Awards:	0 for a total cost of 0
Subsidies:	3 for a total cost of 312000
Quality Certificate:	No
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		2	3.197,43	---
Judicial Claims (Notices, Executive Proceedings, Attachments, Auctions, Bad Debt)		None	0	---
Proceedings heard by the Civil Court		Unpublished	0	---
Proceedings heard by the Labour Court		Unpublished	0	---

Partners:

DRAKA HOLDING NV Y CIA SC	100 %
Shares:	2
Other Links:	25
No. of Active Corporate Bodies:

Ratios

2013

2012

Change

Guarantees:
Properties Registered:	Company NO, Administrator NO
Financing / Guarantee Sources :	Sources YES, Guarantees YES
INVESTIGATION SUMMARY
Company founded for many years now, with experience in its sector. Its billing was increased considerably in 2013 in comparison with the previous year. The company has a positive working capital, so it would be able to meet the payment obligatinos in a short term.

Identification
Social Denomination:	PRYSMIAN SPAIN SA
NIF / Fiscal code:	A08395162
Corporate Status:	ACTIVE
Start of activity:	1955
Registered Office:	CRTA. C-15, KM 2.
Locality:	VILANOVA I LA GELTRU
Province:	BARCELONA
Postal Code:	08800
Telephone:	935 748 383
Fax:	935 743 325
Website:	www.es.prysmiangroup.com
Email:	info@draka.es

Activity
NACE:	2732
Additional Information:	It is engaged in manufacture of low voltage (LV), medium voltage (MV), high voltage (AT), special cables and accessories related to the world of energy; fiber optic cables, cable systems for data transmission and image in high voltage lines and installation services and technical advice to projects "turnkey". Part pf GRUPO PRYSMIAN. Brands : PRYSMIAN / DRAKA. Additional Address: CRTA. C-15, KM 2. 08800 VILANOVA I LA GELTRU ( BARCELONA ),registered office, offices, factory, storage, installations, in property.
Import / export:	IMPORTS / EXPORTS
Future Perspective:	Consolidation
Industry situation:	Maturity

Chronological Summary
	Year	Act
	1990	Appointments/ Re-elections (1) Increase of Capital (1)
	1991	Accounts deposit (ejer. 1989) Adaptation to Law (1) Appointments/ Re-elections (8) Cessations/ Resignations/ Reversals (3) Change of Social Denomination (1) Change of Social Purpose (1) Take-over Merger (1)
	1992	Accounts deposit (ejer. 1990, 1991) Appointments/ Re-elections (1) Capital Reduction (1) Cessations/ Resignations/ Reversals (2) Change of Social address (1) Increase of Capital (1) Statutory Modifications (1) Take-over Merger (1)
	1993	Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (3) Change of Social Denomination (1) Increase of Capital (1) Statutory Modifications (1) Take-over Merger (1)
	1994	Accounts deposit (ejer. 1992, 1993) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (4) Change of Social Denomination (2) Change of Social Purpose (1) Change of Social address (1) Increase of Capital (1) Take-over Merger (2)
	1995	Accounts deposit (ejer. 1994)
	1996	Accounts deposit (ejer. 1995) Capital Reduction (1)
	1997	Appointments/ Re-elections (1) Board Meeting (1) Capital Reduction (1) Cessations/ Resignations/ Reversals (1) Increase of Capital (1) Take-over Merger (1)
	1998	Accounts deposit (ejer. 1996) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (1) Increase of Capital (1) Statutory Modifications (1) Take-over Merger (6)
	1999	Accounts deposit (ejer. 1997 consolidated, 1997) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (3)
	2000	Accounts deposit (ejer. 1998, 1999) Appointments/ Re-elections (3)
	2001	Accounts deposit (ejer. 2000) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social address (1)
	2002	Accounts deposit (ejer. 2001) Appointments/ Re-elections (2)
	2003	Accounts deposit (ejer. 2002) Appointments/ Re-elections (2) Increase of Capital (1)
	2004	Accounts deposit (ejer. 2003) Appointments/ Re-elections (1) Declaration of Sole Propietorship (1) Other Concepts/ Events (1)
	2005	Accounts deposit (ejer. 2004) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Company Transformation (1) Statutory Modifications (2)
	2006	Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Increase of Capital (1)
	2007	Accounts deposit (ejer. 2005, 2006) Appointments/ Re-elections (2)
	2008	Accounts deposit (ejer. 2007) Appointments/ Re-elections (3)
	2009	Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Statutory Modifications (1)
	2010	Accounts deposit (ejer. 2008) Cessations/ Resignations/ Reversals (1)
	2011	Accounts deposit (ejer. 2009, 2010) Appointments/ Re-elections (8) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1) Take-over Merger (1)
	2012	Accounts deposit (ejer. 2011) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2) Company Transformation (1) Errata (1) Statutory Modifications (2) Take-over Merger (3)
	2013	Accounts deposit (ejer. 2012) Appointments/ Re-elections (14) Cessations/ Resignations/ Reversals (4) Change of Social Denomination (1) Change of Social Purpose (1) Change of Social address (1) Other Concepts/ Events (1) Statutory Modifications (1) Take-over Merger (2)
	2014	Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1)
	2015	Accounts deposit (ejer. 2013) Appointments/ Re-elections (1)

Main Historic Changes
Concept	Publication	Act	Date
Corporate Purpose Changes:	COMPRA, VENTA, FABRICACION, DISTRIBUCION, COMERCIALIZACION EXPORTACION E IMPORTACION DE CABLES Y CONDUCTORES ELECTRICOS Y TODA CLASE DE SOPORTES PARA LA TRANSMISION DE LA CORRIENTE ELECTRICA, IMPULSOS ELECTRICOS ELECTRONICOS	Corporate Purpose Change	02/12/1994
	LA COMPRA, VENTA, FABRICACION, DISTRIBUCION, COMERCIALIZACION, EXPORT-IMPORTACION DE CABLES CONDUCTORES ELECTRICOS ESPECIALES Y AFINES PARA SU UTILIZACION EN EL CAMPO DE LA ELECTRONICA, TELECOMUNICACIONES Y ELECTRICIDAD EN GENERAL.	Corporate Purpose Change	27/02/1991

Breakdown of Owners' Equity
Registered Capital:	58.178.234,22
Paid up capital:	58.178.234,22

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date	Registration Type	Capital Subscribed	Paid up capital	Underwritten result	Disbursed Result
28/08/1990	Increase of Capital	5.410.311	5.410.311	5.936.197	5.936.197
17/07/1992	Capital Reduction	-5.503.702	-5.503.702	432.494	432.494
17/07/1992	Increase of Capital	6.010.016	6.010.016	6.442.510	6.442.510
30/11/1993	Increase of Capital	4.721.159	4.721.159	11.163.669	11.163.669
17/11/1994	Increase of Capital	4.934.730	4.934.730	16.098.399	16.098.399
10/01/1996	Capital Reduction	-4.860.420	-4.860.420	11.237.980	11.237.980
15/01/1997	Capital Reduction	-5.399.198	-5.399.198	5.838.782	5.838.782
15/01/1997	Increase of Capital	6.761.386	6.761.386	12.600.168	12.600.168
07/07/1998	Increase of Capital	13.096.655	13.096.655	25.696.823	25.696.823
11/04/2003	Increase of Capital	32.479.002	32.479.002	58.175.325	58.175.325
31/08/2006	Increase of Capital	2.909	2.909	58.178.234	58.178.234

Active Social Bodies

Post published	Social Body's Name	Appointment Date	Other Positions in this Company
SINGLE PARTNER	DRAKA HOLDING NV Y CIA SOCIEDAD COLECTIVA	22/06/2004	1
PRESIDENT	ACIN JOVER FRANCESC XAVIER	25/09/2012	5
MEMBER OF THE BOARD	TORRADEFLOT DIARS JUAN	13/03/2014	3
	ALESSANDRO BENUZZI	07/06/2013	1
	GIOVANNI ZANCAN	07/06/2013	1
	PIER FRANCESCO FACCHINI	07/06/2013	1
	CALVO ROVIRA JORDI	07/06/2013	3
	ACIN JOVER FRANCESC XAVIER	25/09/2012	5
JOINT ATTORNEY	MACIA LOPEZ JOSEP MARIA	10/10/2014	1
	TORNE REVERTER LLUIS	09/10/2013	2
	PLA MARTINEZ ERNESTO	30/09/2013	2
	NOLLA MAGRIÑA FRANCESC	30/09/2013	2
	FERRANDIS MILLAN MIGUEL ANGEL	30/08/2013	5
	BOSCH GUILAMANY ANTONI	30/08/2013	1
	BATLLE FERRER JOSEP MARIA	30/08/2013	1
	ORLANDO PENTEADO	30/08/2013	1
	JAVIER EDUARDO ANTISTA MARCHETTI	30/08/2013	1
	PUERTAS OCHANDO ALEJANDRO	30/08/2013	1
	CUNILLE SHAADI FERNANDO	05/08/2013	1
	CALVO ROVIRA JORDI	05/08/2013	3
JOINT ATTORNEY/COMBINED PROXY	TORRADEFLOT DIARS JUAN	18/02/2014	3
PROXY	ACIN JOVER FRANCESC XAVIER	01/09/2011	5
	ARNAUS ARTES DE ARCOS JOAQUIM	16/10/2008	3
	CANALS CABALLE PEDRO	03/08/1999	1
	ARNAUS ARTES DE ARCOS JOAQUIN	03/08/1999	1
SECRETARY	TORRADEFLOT DIARS JUAN	13/03/2014	3
ACCOUNTS' AUDITOR / HOLDER	PRICEWATERHOUSECOOPERS AUDITORES SL	13/02/2015	1

Historical Social Bodies

Social Body's Name	Post published	End Date	Other Positions in this Company
ACIN JOVER FRANCESC XAVIER	MEMBER OF THE BOARD	25/09/2012	5
	PRESIDENT	25/09/2012
ALOS CARRERA RAMON	MEMBER OF THE BOARD	26/06/1992	1
ALOS CARRERA RAMOS	SINGLE ADMINISTRATOR	22/01/1991	1
ALOS VIDAL ELENA	MEMBER OF THE BOARD	26/06/1992	1
ALOS VIDAL RAMON	PROXY	30/01/1991	3
	PRESIDENT	24/12/1991
	MEMBER OF THE BOARD	26/06/1992
ALOS Y CARRERA RAMON	SINGLE ADMINISTRATOR	22/01/1991	1
ARNAUS ARTES DE ARCOS JOAQUIM	JOINT ADMINISTRATOR	09/12/2005	3
	JOINT ADMINISTRATOR	09/11/2011
ARTES DE ARCOS JOAQUIM ARNAUS	PROXY	09/11/2011	1
AVILES LOPEZ PEDRO	PROXY	05/08/2013	1
BALAÑA DE EGUIA JOSE MARIA	NON CONSELLOR SECRETARY	22/06/1998	1
BATLLE FERRER JOSE MARIA	PROXY	05/08/2013	1
BENNY OLSSON	MEMBER OF THE BOARD	10/12/1993	3
	CHIEF EXECUTIVE OFFICER	10/12/1993
	VICE CHAIRMAN	10/12/1993
BOTNEVIK FRODE	MEMBER OF THE BOARD	13/10/1993	1
BROR ADOLF FREDRIK CRONEBORG	PROXY	24/03/1993	2
	PROXY	08/02/1994
CABELLO MONJE ANTONIO	PROXY	02/06/2010	1
CALVO ROVIRA JORDI	PROXY	05/08/2013	3
CAMPANO DE RIVAS MIGUEL	PROXY	25/01/1994	1
CANALS CABALLE PERE	JOINT ADMINISTRATOR	09/11/2011	3
	PROXY	09/11/2011
	JOINT ADMINISTRATOR	09/12/2005
COIRA SANCHEZ DE TOCA JAIME	PROXY	25/01/1994	1
COOPERS AND LYBRAND SA	ACCOUNTS' AUDITOR / HOLDER	26/02/1992	1
CRONEBORG ADOLF FEDRIK	CHIEF EXECUTIVE OFFICER	09/11/2011	1
CURTO CAPDEVILA ENRIC	PROXY	26/08/2009	1
DELOITTE SL	ACCOUNTS' AUDITOR / HOLDER	07/10/2011	1
DEVOLD JOAKIM	MEMBER OF THE BOARD	13/10/1993	1
DOMINGO PAGES CARLOS	MEMBER OF THE BOARD	10/12/1993	3
	CHIEF EXECUTIVE OFFICER	10/12/1993
	PRESIDENT	10/12/1993
DRAKA CABLES SA	ADMINISTRATOR	22/06/1998	1
DRAKA EUROSUD SA	SINGLE ADMINISTRATOR	19/04/2005	1
ERNST AND YOUNG SA	ACCOUNTS' AUDITOR / HOLDER	23/03/1994	1
FALCO ALTET ANTONI	REPRESENTATIVE	19/04/2005	1
FERNANDEZ PUGA JOSE BENIGNO	PROXY	17/05/2001	1
FERNANDEZ PUGA MARIA CONCEPCION	PROXY	18/05/2006	2
	PROXY	04/09/2009
FERRAN FONTS JOAN	PROXY	05/08/2013	1
FERRANDIS MILLAN MIGUEL ANGEL	PROXY	03/08/1999	5
	PROXY	10/09/1999
	PROXY	05/08/2013
	PROXY	30/01/1991
FREDERIC GROSSE	MEMBER OF THE BOARD	23/12/2013	2
	MEMBER OF THE BOARD	25/09/2012
GARCIA PEREZ MARIA FE	PROXY	09/11/2011	1
GARCIA Y GARCIA JOSE MARIA	PROXY	30/01/1991	1
GONZALEZ MENENDEZ ANTONIO	PROXY	10/09/1999	1
GONZALEZ SIEIRO MARCOS	PROXY	18/05/2006	1
GUERRERO DE CASTRO ANGEL	MEMBER OF THE BOARD	11/06/1997	2
	CHIEF EXECUTIVE OFFICER	11/06/1997
GUIL GARCIA DOMINGO	PROXY	30/01/1991	1
GUIL GARCIA DOMINGO BERNABE	PROXY	24/03/1993	1
GUNNAR LARSON	MEMBER OF THE BOARD	10/12/1993	3
	CHIEF EXECUTIVE OFFICER	10/12/1993
	VICE CHAIRMAN	10/12/1993
HENDRIK LEONARDUS GORISSEN	MEMBER OF THE BOARD	22/06/1998	2
	PRESIDENT	22/06/1998
HOLTE TORE EGIL	MEMBER OF THE BOARD	10/12/1993	3
	VICE CHAIRMAN	13/10/1993
	MEMBER OF THE BOARD	30/01/1991
JAOUAD BEN HAMMAN AN NASERI	PROXY	05/08/2013	1
KPMG AUDITORES SL	ACCOUNTS' AUDITOR / HOLDER	28/05/2001	10
	ACCOUNTS' AUDITOR / HOLDER	28/01/2002
	ACCOUNTS' AUDITOR / HOLDER	30/10/2002
	ACCOUNTS' AUDITOR / HOLDER	12/01/2007
	ACCOUNTS' AUDITOR / HOLDER	07/01/2008

	ACCOUNTS' AUDITOR / HOLDER	05/11/2008
	ACCOUNTS' AUDITOR / HOLDER	28/10/2005
	ACCOUNTS' AUDITOR / HOLDER	04/01/2000
	ACCOUNTS' AUDITOR / HOLDER	11/11/2003
	ACCOUNTS' AUDITOR / HOLDER	14/10/2004
KPMG PEAT MARWICK SA Y CIA AUDITORES SRC	ACCOUNTS' AUDITOR / HOLDER	22/06/1998	3
	ACCOUNTS' AUDITOR / HOLDER	07/07/1998
	ACCOUNTS' AUDITOR / HOLDER	04/01/2000
LAPLANA ARASANZ JUAN LUIS	PROXY	05/08/2013	1
LENCINA SOLANAS JOAQUIN	PROXY	03/08/1999	3
	PROXY	05/10/2012
	PROXY	10/09/1999
LOPEZ MUÑOZ CARLOS	PROXY	05/10/2012	1
LORENZO LOPEZ JOSE CARLOS	PROXY	04/09/2009	1
MALUQUER TREPAT LUIS	MEMBER OF THE BOARD	26/06/1992	1
MARTIN MARTIN MANUEL JOSE	NON CONSELLOR SECRETARY	13/10/1993	1
MENAC BELLOSTA RAMON	PROXY	09/11/2011	1
MOLINARI MIGUEZ PEDRO FELIX	PROXY	14/01/1999	1
MONTES HEREDIA JOSE	MEMBER OF THE BOARD	10/12/1993	2
	CHIEF EXECUTIVE OFFICER	10/12/1993
MORA ALCANTARA SANTIAGO	PROXY	10/09/1999	1
MORALES LITRAN ANTONIO	NON CONSELLOR SECRETARY	02/02/1994	1
NOLLA MAGRIÑA FRANCESC	PROXY	30/09/2013	2
NUSTAD HAVARD ANTON	PROXY	25/01/1994	1
PARADINAS HERNANDEZ JOSE LUIS	NON CONSELLOR ASSISTANT SECRETARY	02/02/1994	1
PIEDRA BERNARDEZ ESTEBAN	PROXY	04/09/2009	1
PIJOAN NAVARRO JAIME	PROXY	10/09/1999	1
PIJOAN NAVARRO JAUME	PROXY	09/11/2011	1
PLA MARTINEZ ERNESTO	PROXY	05/08/2013	2
PRICE WATERHOUSE COOPERS AUDITORES SL	ACCOUNTS' AUDITOR / HOLDER	13/02/2015	1
ROREN NILS OLE	MEMBER OF THE BOARD	13/10/1993	1
SACHARIAS JOHANNES VAN KESTEREN	VICE CHAIRMAN	20/03/2003	3
	MEMBER OF THE BOARD	22/06/1998
	VICE CHAIRMAN	22/06/1998
SIDNEY PERERA	MEMBER OF THE BOARD	22/06/1998	2
	CHIEF EXECUTIVE OFFICER	22/06/1998
SOLANO HERNANDEZ DONATO	MEMBER OF THE BOARD	26/06/1992	1
SOLANO Y HERNANDEZ DONATO	PROXY	30/01/1991	1
STEN JACOBSSON	MEMBER OF THE BOARD	10/12/1993	2
	CHIEF EXECUTIVE OFFICER	10/12/1993
TORE HEGIL HOLTE	CHIEF EXECUTIVE OFFICER	10/12/1993	1
TORNE REVERTER LLUIS	PROXY	09/10/2013	2
TRALLERO VILAR ANTONIO	PROXY	11/06/1997	2
	PROXY	10/09/1999
VAZQUEZ MONTERO EVARISTO	PROXY	18/05/2006	1
VILA SOLVES ELADIO	PROXY	10/09/1999	1
ZORRAQUINO ASUNSOLO JAVIER	MEMBER OF THE BOARD	25/09/2012	6
	SECRETARY	25/09/2012
	PROXY	05/08/2013
	JOINT ATTORNEY	13/03/2014
	SECRETARY	13/03/2014
	MEMBER OF THE BOARD	13/03/2014

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		0	---	date
Proceedings		---	---		---
Resolution		---	---		---
Defaults on debt with Financial Institutions and Large Companies	Bank and Commercial Delinquency	2	0	27/11/2013	25/02/2015
Status: Friendly		2	3197.43	27/11/2013	27/11/2013
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	---

 > Details

IMPAGOS EN ENTIDADES FINANCIERAS Y GRANDES EMPRESAS  

Section comprising a list of the instances of default recorded in the ASNEF Industrial file under the name of .

 List of current instances of default for each of the transactions in progress

Type of creditor	Product	Value of transactions (_)	Status	No. of defaults	Default balance (_)	Date of first default	Date of last default
INDUSTRIA	Otros	3188.35	Amistoso	---	3197.43	27/11/13	27/11/13
ENTIDADES FINANCIERAS DE MARCA	Leasing, factoring, renting, confirming	---	Amistoso	---	.00
				3.197,43

Legal Notice

This data has been obtained from consultation of the ASNEF Industrial register. It may only be used for the purposes of awarding credit, monitoring credit and managing loans. This data may not be reused or included in any database, and may not be ceded

> Basis for scoring

Positive Factors

Adverse Factors

It is one of the major domestic companies in terms of sales volume. Significant level of financial autonomy. The asset is financed mostly with equity and financing with maturity exceeding one year, providing a solid financial structure. PRYSMIAN SPAIN SA 's borrowing cost is appropriate according to its volume of external financing sources. The development of the structure of the debt during the last two years indicates a decrease of the debt with credit institutions and trade creditors in respect to all liabilities. The lower the level of debt, the lower the dependence on suppliers capital and the more guarantee will have its financial situation. 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.

It has been found to have irregular payment performance at the credit bureaus, although it is not relevant enough to change the rating. It has no return from its main operating activity.This might deteriorate its financial situation. Moreover, this productivity has decreased in comparison with the previous financial year. It presents an inefficient resources management. Resources and variable costs management associated with the activity itself are not productive, since operating expenses exceed income. Reduced level of liquidity. The company shows not enough capacity to meet its obligations with a maturity of less than one year with the available liquid assets. Solvency decrease. Its capacity to bear the cost derived form debts incurred with third parties has decreased significantly in its last fiscal year.

Probability of default

> Estimated Probability of Default for the next 12 months:  1.551 %

> Latest Scoring Changes:

Sector in which comparison is carried out: 273 Manufacture of wiring and wiring devices
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 76.00% of the companies of the sector PRYSMIAN SPAIN SA 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 1.551%.

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
	Procedimientos ante Juzgados de lo Social	No se han publicado

Link List

ABSORBS TO:	7 Entities
IS RELATED WITH:	18 Entities
PARTICIPATES IN:	2 Entities
SHAREHOLDERS:	1 Entities

> Shareholders

Relationship	Entity	Province	Shareholding stake
SHAREHOLDERS	DRAKA HOLDING NV Y CIA SC	BARCELONA	100
PARTICIPATES IN	CRECIENTE SA	PONTEVEDRA	100
	CONDUCTORES ELECTRICOS DE GALICIA SA	PONTEVEDRA	49.75

> Other relationships

Relationship	Entity	Province	Shareholding stake
IS RELATED WITH	| |
	DRAKA CABLETEQ USA
	PRYSMIAN METALS UK
	PRYSMIAN CABLES Y SISTEMAS SA	BARCELONA
	DRAKA COMTEQ TELECOM BV
	DRAKA KABEL BV
	DRAKA PARICABLE SAS
	DRAKA TRANSPORT USA LLC
	DRAKA TREASURY BV
	PRYSMIAN CABLES ET SYSTEMES
	ARGENTINA PRYSMIAN ENER CYS
	PRYSMIAN KABEL & SYSTEME, S.A.
	PRYSMIAN METALS, S.A.
	PRYSMIAN SPA (ITALIA)
	DB LIFT DRAKA ELEVATOR PRODUCTS, S.L.
	DRAKA CABLE WUPPERTAL, S.A.
	DRAKA CABLETEQ USA INC
	DRAKA COMTEQ FIBRE BV
IS RELATED WITH	PRYSMIAN CABLES Y SISTEMAS SA	BARCELONA
ABSORBS TO	CONDUCTORES ELECTRICOS DE GALICIA, S.A.	PONTEVEDRA
	CRECIENTE, S.A.	PONTEVEDRA
	DRAKA COMTEQ SPAIN SL	BARCELONA
	DRAKA ELEVATOR PRODUCTS SPAIN SL	MADRID
	DRAKA INDUSTRY & SPECIALTY S.L	NAVARRA
	PRYSMIAN CABLES Y SISTEMAS SA	BARCELONA
	FERCABLE SL	BARCELONA

Turnover
Total Sales 2014	295.000.000

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio	Tipo de Cuentas Anuales	Fecha Presentacion
2013	Normales	January  2015
2012	Normales	February  2013
2011	Normales	June  2012
2010	Normales	October  2011
2009	Normales	May  2011
2008	Normales	January  2010
2007	Normales	November  2008
2006	Normales	October  2007
2005	Normales	December  2006
2004	Normales	October  2005
2003	Normales	October  2004
2002	Normales	October  2003
2001	Normales	September  2002
2000	Normales	September  2001
1999	Normales	September  2000
1998	Normales	January  2000
1997	Consolidadas	January  1999
1997	Normales	January  1999
1996	Normales	June  1998
1995	Normales	November  1996
1994	Normales	September  1995
1993	Normales	October  1994
1992	Normales	January  1994
1991	Normales	July  1992
1990	Normales	June  1992
1989	Normales	October  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 31/12/2013

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

Information corresponding to the fiscal year 2013 2012 2011 2010 2009  is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2013 2012 2011 2010 2009  has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. To view details on the methodology.

	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL
Assets	2013	2012	2011	2010	2009
A) NON-CURRENT ASSETS: 11000	165.185.000,00	111.512.000,00	133.456.000,00	136.211.490,00	139.452.000,00
I. Intangible fixed assets : 11100	283.000,00	168.000,00	213.000,00	272.490,00	80.000,00
1. Development: 11110	176.000,00	0,00	195.000,00	244.110,00	0,00
2. Concessions: 11120	98.000,00	146.000,00	0,00	0,00	0,00
3. Patents, licencing, trade marks and similar: 11130	0,00	0,00	0,00	0,00	0,00
4. Goodwill: 11140	0,00	0,00	0,00	0,00	0,00
5. IT applications: 11150	9.000,00	22.000,00	18.000,00	28.380,00	80.000,00
6. Investigation: 11160	0,00	0,00	0,00	0,00	0,00
7. Intellectual property: 11180	0,00	0,00	0,00	0,00	0,00
8. Greenhouse gas emission allowance: 11190	0,00	0,00	0,00	0,00	0,00
9. Other intangible fixed assets. : 11170	0,00	0,00	0,00	0,00	0,00
II. Tangible fixed assets : 11200	58.851.000,00	14.310.000,00	13.859.000,00	16.104.450,00	19.158.000,00
1. Land and buildings: 11210	40.451.000,00	4.738.000,00	5.191.000,00	5.641.880,00	6.093.000,00
2. Technical installations and other tangible fixed assets: 11220	16.231.000,00	9.572.000,00	8.668.000,00	10.462.570,00	13.065.000,00
3. Tangible asset in progress and advances: 11230	2.169.000,00	0,00	0,00	0,00	0,00
III. Real estate investment: 11300	3.134.000,00	0,00	0,00	0,00	0,00
1. Land: 11310	3.042.000,00	0,00	0,00	0,00	0,00
2. Buildings: 11320	92.000,00	0,00	0,00	0,00	0,00
IV. Long-term investments in Group companies and associates : 11400	89.119.000,00	89.119.000,00	111.001.000,00	110.999.450,00	110.999.000,00
1. Equity instruments: 11410	0,00	0,00	0,00	0,00	0,00
2. Credits to businesses: 11420	89.119.000,00	89.119.000,00	111.001.000,00	110.999.450,00	110.999.000,00
3. Debt securities: 11430	0,00	0,00	0,00	0,00	0,00
4. Derivatives : 11440	0,00	0,00	0,00	0,00	0,00
5. Other financial assets : 11450	0,00	0,00	0,00	0,00	0,00
6. Other investments: 11460	0,00	0,00	0,00	0,00	0,00
V. Long-term financial investments: 11500	7.425.000,00	7.773.000,00	8.137.000,00	8.529.990,00	8.908.000,00
1. Equity instruments: 11510	0,00	0,00	12.000,00	11.510,00	12.000,00
2. Credits to third parties : 11520	4.561.000,00	4.992.000,00	5.404.000,00	5.797.830,00	6.174.000,00
3. Debt securities: 11530	0,00	0,00	0,00	0,00	0,00
4. Derivatives : 11540	0,00	0,00	0,00	0,00	0,00
5. Other financial assets : 11550	2.864.000,00	2.781.000,00	2.721.000,00	2.720.650,00	2.722.000,00
6. Other investments: 11560	0,00	0,00	0,00	0,00	0,00
VI. Assets for deferred tax : 11600	6.373.000,00	142.000,00	246.000,00	305.110,00	307.000,00
VII. Non-current trade debts : 11700	0,00	0,00	0,00	0,00	0,00
B) CURRENT ASSETS: 12000	111.339.000,00	67.438.000,00	113.831.000,00	118.672.900,00	108.752.000,00
I. Non-current assets held for sale : 12100	0,00	0,00	0,00	0,00	13.000,00
II. Stocks: 12200	36.619.000,00	103.000,00	11.351.000,00	16.162.570,00	14.531.000,00
1. Commercial: 12210	1.281.000,00	103.000,00	0,00	0,00	0,00
2. Primary material and other supplies: 12220	12.684.000,00	0,00	4.600.000,00	5.393.440,00	3.850.000,00
3. Work in progress: 12230	7.619.000,00	0,00	603.000,00	601.730,00	712.000,00
a) Of long-term production cycle : 12231	0,00	0,00	0,00	0,00	0,00
b) Of short-term production cycle : 12232	7.619.000,00	0,00	0,00	601.730,00	712.000,00
4. Finished goods: 12240	15.035.000,00	0,00	6.148.000,00	10.167.400,00	9.969.000,00
a) Of long-term production cycle : 12241	0,00	0,00	0,00	0,00	0,00
b) Of short-term production cycle : 12242	15.035.000,00	0,00	0,00	10.167.400,00	9.969.000,00
5. By-products, residues and recycled materials: 12250	0,00	0,00	0,00	0,00	0,00
6. Advances to suppliers: 12260	0,00	0,00	0,00	0,00	0,00
III. Trade debtors and others receivable accounts: 12300	68.046.000,00	4.129.000,00	70.751.000,00	74.530.740,00	64.570.000,00
1. Trade debtors / accounts receivable: 12310	56.561.000,00	994.000,00	9.575.000,00	21.797.780,00	12.990.000,00
a) Long-term receivables from sales and services supplied : 12311	0,00	0,00	0,00	0,00	0,00
b) Customers for sales and provisions of services : 12312	56.561.000,00	994.000,00	0,00	21.797.780,00	12.990.000,00
2. Customers, Group companies and associates : 12320	11.059.000,00	2.494.000,00	60.906.000,00	52.647.920,00	51.471.000,00
3. Other accounts receivable: 12330	27.000,00	9.000,00	0,00	0,00	0,00
4. Personnel: 12340	399.000,00	0,00	0,00	1.580,00	0,00
5. Assets for deferred tax: 12350	0,00	130.000,00	270.000,00	83.460,00	109.000,00
6. Other debtors, including tax and social security: 12360	0,00	502.000,00	0,00	0,00	0,00
7. Called up share capital: 12370	0,00	0,00	0,00	0,00	0,00
IV. Short-term investments in Group companies and associates: 12400	2.328.000,00	62.289.000,00	1.879.000,00	1.502.190,00	1.006.000,00
1. Equity instruments: 12410	0,00	0,00	0,00	0,00	0,00
2. Credits to businesses: 12420	2.328.000,00	62.289.000,00	1.879.000,00	0,00	0,00
3. Debt securities: 12430	0,00	0,00	0,00	1.502.190,00	1.006.000,00
4. Derivatives : 12440	0,00	0,00	0,00	0,00	0,00
5. Other financial assets : 12450	0,00	0,00	0,00	0,00	0,00
6. Other investments: 12460	0,00	0,00	0,00	0,00	0,00
V. Short-term financial investments : 12500	2.431.000,00	412.000,00	394.000,00	376.590,00	360.000,00
1. Equity instruments: 12510	0,00	0,00	0,00	0,00	0,00
2. Credits to businesses: 12520	431.000,00	412.000,00	0,00	0,00	0,00
3. Debt securities: 12530	0,00	0,00	0,00	0,00	0,00
4. Derivatives : 12540	0,00	0,00	0,00	0,00	0,00
5. Other financial assets : 12550	0,00	0,00	394.000,00	376.590,00	360.000,00
6. Other investments: 12560	2.000.000,00	0,00	0,00	0,00	0,00
VI. Short-term accruals: 12600	90.000,00	83.000,00	11.000,00	12.390,00	26.000,00
VII. Cash and other equivalent liquid assets : 12700	1.825.000,00	422.000,00	29.445.000,00	26.088.420,00	28.246.000,00
1. Treasury: 12710	1.825.000,00	422.000,00	29.445.000,00	26.088.420,00	28.246.000,00
2. Other equivalent liquid assets: 12720	0,00	0,00	0,00	0,00	0,00
TOTAL ASSETS (A + B) : 10000	276.524.000,00	178.950.000,00	247.287.000,00	254.884.390,00	248.204.000,00

	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL
Liabilities and Net Worth	2013	2012	2011	2010	2009
A) NET WORTH: 20000	128.801.000,00	159.183.000,00	163.725.000,00	166.721.690,00	167.979.000,00
A-1) Shareholders' equity: 21000	128.566.000,00	159.180.000,00	163.725.000,00	166.721.690,00	167.979.000,00
I. Capital: 21100	58.178.000,00	58.178.000,00	58.178.000,00	58.178.230,00	58.178.000,00
1. Registered capital : 21110	58.178.000,00	58.178.000,00	58.178.000,00	58.178.230,00	58.178.000,00
2. (Uncalled capital): 21120	0,00	0,00	0,00	0,00	0,00
II. Share premium: 21200	22.610.000,00	0,00	74.701.000,00	74.701.370,00	75.701.000,00
III. Reserves: 21300	73.325.000,00	105.746.000,00	38.433.000,00	37.067.280,00	37.067.000,00
1. Legal y estatutarias: 21310	7.614.000,00	4.613.000,00	4.613.000,00	4.612.920,00	4.613.000,00
2. Other reserves: 21320	65.711.000,00	101.133.000,00	33.820.000,00	32.454.360,00	32.454.000,00
3. Revaluation reserves: 21330	0,00	0,00	0,00	0,00	0,00
IV. (Common stock equity): 21400	0,00	0,00	0,00	0,00	0,00
V. Results from previous periods: 21500	-4.744.000,00	-711.000,00	-3.225.000,00	-2.966.810,00	-976.000,00
1. Brought forward: 21510	0,00	0,00	0,00	0,00	0,00
2. (Negative results from previous periods): 21520	-4.744.000,00	-711.000,00	-3.225.000,00	-2.966.810,00	-976.000,00
VI. Other shareholders' contributions: 21600	0,00	0,00	0,00	0,00	0,00
VII. Result of the period: 21700	-20.803.000,00	-4.033.000,00	-4.362.000,00	-258.380,00	-1.991.000,00
VIII. (Interim dividend): 21800	0,00	0,00	0,00	0,00	0,00
IX. Other net worth instruments: 21900	0,00	0,00	0,00	0,00	0,00
A-2) Adjustments due to changes in value: 22000	235.000,00	0,00	0,00	0,00	0,00
I. Financial assets held for sale: 22100	0,00	0,00	0,00	0,00	0,00
II. Hedge operations: 22200	0,00	0,00	0,00	0,00	0,00
III. Linked non-current assets and liabilities held for sale : 22300	0,00	0,00	0,00	0,00	0,00
IV. Exchange rate difference: 22400	235.000,00	0,00	0,00	0,00	0,00
V. Other: 22500	0,00	0,00	0,00	0,00	0,00
A-3) Received subsidies, donations and legacies: 23000	0,00	3.000,00	0,00	0,00	0,00
B) NON-CURRENT LIABILITIES: 31000	41.412.000,00	7.801.000,00	8.425.000,00	8.885.590,00	9.129.000,00
I. Long-term provisions: 31100	691.000,00	53.000,00	0,00	0,00	0,00
1. Long-term employee benefits liability: 31110	691.000,00	53.000,00	0,00	0,00	0,00
2. Environmental actions: 31120	0,00	0,00	0,00	0,00	0,00
3. Restructuring provisions: 31130	0,00	0,00	0,00	0,00	0,00
4. Other provisions: 31140	0,00	0,00	0,00	0,00	0,00
II Long-term creditors: 31200	6.398.000,00	6.922.000,00	7.396.000,00	7.673.860,00	7.928.000,00
1. Liabilities and other securities: 31210	0,00	0,00	0,00	0,00	0,00
2. Amounts owed to credit institutions: 31220	245.000,00	273.000,00	288.000,00	139.840,00	0,00
3. Creditors from financial leasing: 31230	6.153.000,00	6.649.000,00	7.108.000,00	7.534.020,00	7.928.000,00
4. Derivatives : 31240	0,00	0,00	0,00	0,00	0,00
5. Other financial liabilities : 31250	0,00	0,00	0,00	0,00	0,00
III. Long-term debts with Group companies and associates: 31300	30.000.000,00	0,00	0,00	0,00	0,00
IV. Liabilities for deferred tax: 31400	4.323.000,00	826.000,00	1.029.000,00	1.211.730,00	1.201.000,00
V. Long-term accruals: 31500	0,00	0,00	0,00	0,00	0,00
VI. Non-current trade creditors : 31600	0,00	0,00	0,00	0,00	0,00
VII. Special long-term debts : 31700	0,00	0,00	0,00	0,00	0,00
C) CURRENT LIABILITIES : 32000	106.311.000,00	11.966.000,00	75.137.000,00	79.277.110,00	71.096.000,00
I. Liabilities linked to non-current assets held for sale: 32100	0,00	0,00	0,00	0,00	0,00
II. Short-term provisions: 32200	650.000,00	100.000,00	1.241.000,00	0,00	0,00
1. Provisions from greenhouse gas emission allowance: 32210	0,00	0,00	0,00	0,00	0,00
2. Other provisions: 32220	650.000,00	0,00	0,00	0,00	0,00
III. Short-term creditors : 32300	496.000,00	1.532.000,00	441.000,00	458.240,00	592.000,00
1. Liabilities and other securities: 32310	0,00	0,00	0,00	0,00	0,00
2. Amounts owed to credit institutions: 32320	0,00	0,00	15.000,00	63.740,00	226.000,00
3. Creditors from financial leasing: 32330	496.000,00	459.000,00	426.000,00	394.500,00	366.000,00
4. Derivatives : 32340	0,00	0,00	0,00	0,00	0,00
5. Other financial liabilities : 32350	0,00	1.073.000,00	0,00	0,00	0,00
IV. Short-term debts with Group companies and associates: 32400	35.975.000,00	428.000,00	4.045.000,00	3.901.460,00	4.104.000,00
V. Trade creditors and other accounts payable: 32500	69.073.000,00	9.906.000,00	69.410.000,00	74.917.410,00	66.400.000,00
1. Suppliers: 32510	50.087.000,00	6.628.000,00	61.491.000,00	57.858.840,00	54.460.000,00
a) Long-term debts : 32511	0,00	0,00	0,00	0,00	0,00
b) Short-term debts : 32512	50.087.000,00	6.628.000,00	0,00	57.858.840,00	54.460.000,00
2. Suppliers, Group companies and associates: 32520	9.085.000,00	1.086.000,00	4.827.000,00	12.364.890,00	7.986.000,00
3. Other creditors: 32530	560.000,00	1.664.000,00	2.255.000,00	3.033.370,00	2.695.000,00
4. Personnel (remuneration due): 32540	4.584.000,00	189.000,00	179.000,00	310.730,00	363.000,00
5. Liabilities for current tax: 32550	0,00	0,00	0,00	0,00	0,00
6. Other accounts payable to Public Administrations.: 32560	2.908.000,00	339.000,00	658.000,00	1.349.580,00	896.000,00
7. Advances from clients: 32570	1.849.000,00	0,00	0,00	0,00	0,00
VI. Short-term accruals: 32600	117.000,00	0,00	0,00	0,00	0,00
VII. Special short-term debts : 32700	0,00	0,00	0,00	0,00	0,00
TOTAL NET WORTH AND LIABILITIES (A + B + C) : 30000	276.524.000,00	178.950.000,00	247.287.000,00	254.884.390,00	248.204.000,00

	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL
Profit and Loss	2013	2012	2011	2010	2009
1. Net turnover: 40100	271.437.000,00	23.131.000,00	98.617.000,00	103.929.980,00	82.393.000,00
a) Sales: 40110	269.153.000,00	20.028.000,00	98.617.000,00	103.929.980,00	82.393.000,00
b) Rendering of services: 40120	2.284.000,00	3.103.000,00	0,00	0,00	0,00

c) Income of financial nature of holding companies: 40130	0,00	0,00	0,00	0,00	0,00
2. Changes in stocks of finished goods and work in progress: 40200	-4.509.000,00	-8.143.000,00	-3.503.000,00	78.970,00	-7.165.000,00
3. Works carried out by the company for its assets: 40300	0,00	0,00	0,00	244.110,00	0,00
4. Supplies : 40400	-190.944.000,00	-12.101.000,00	-81.053.000,00	-88.562.020,00	-59.504.000,00
a) Stock consumption: 40410	-26.574.000,00	-103.000,00	-5.083.000,00	-7.488.020,00	-6.512.000,00
b) Consumption of raw materials and miscellaneous consumable ones: 40420	-159.861.000,00	-12.017.000,00	-75.461.000,00	-81.081.360,00	-54.416.000,00
c) Works carried out by other companies: 40430	-550.000,00	0,00	0,00	0,00	0,00
d) Impairment of stock, primary material and other supplies: 40440	-3.959.000,00	19.000,00	-509.000,00	7.360,00	1.424.000,00
5. Other operating income: 40500	1.980.000,00	60.000,00	115.000,00	327.200,00	512.000,00
a) Auxiliary income and other from current management: 40510	1.980.000,00	60.000,00	115.000,00	327.200,00	428.000,00
b) Operation subsidies included in the Period's result: 40520	0,00	0,00	0,00	0,00	84.000,00
6. Personnel costs: 40600	-38.628.000,00	-4.857.000,00	-12.070.000,00	-9.631.070,00	-11.642.000,00
a) Wages, salaries et al.: 40610	-28.398.000,00	-3.938.000,00	-10.021.000,00	-7.729.130,00	-9.617.000,00
b) Social security costs: 40620	-7.576.000,00	-919.000,00	-2.049.000,00	-1.901.940,00	-2.025.000,00
c) Provisions : 40630	-2.654.000,00	0,00	0,00	0,00	0,00
7. Other operating costs: 40700	-52.021.000,00	-4.078.000,00	-9.436.000,00	-9.497.920,00	-9.743.000,00
a) External services: 40710	-50.081.000,00	-3.920.000,00	-9.070.000,00	-9.106.710,00	-9.652.000,00
b) Taxes: 40720	-1.181.000,00	-158.000,00	-307.000,00	-297.050,00	-336.000,00
c) Losses, impairments and variation in provisions from trade operations : 40730	-759.000,00	0,00	-59.000,00	-94.160,00	245.000,00
d) Other current management expenditure : 40740	0,00	0,00	0,00	0,00	0,00
e) Expenses due to greenhouse gas emissions: 40750	0,00	0,00	0,00	0,00	0,00
8. Amortisation of fixed assets: 40800	-5.735.000,00	-948.000,00	-2.505.000,00	-3.442.230,00	-3.679.000,00
9. Allocation of subsidies of non-financial fixed assets and other: 40900	0,00	0,00	0,00	0,00	0,00
10. Excess provisions : 41000	0,00	0,00	0,00	0,00	0,00
11. Impairment and result of transfers of fixed assets: 41100	-1.605.000,00	309.000,00	6.000,00	1.560,00	0,00
a) Impairment and losses : 41110	-2.500.000,00	0,00	0,00	0,00	0,00
b) Results for transfers and other : 41120	895.000,00	309.000,00	6.000,00	1.560,00	0,00
c) Impairment and profit due to disposals of assets of holding companies: 41130	0,00	0,00	0,00	0,00	0,00
12. Negative difference in combined businesses: 41200	0,00	0,00	0,00	0,00	0,00
13. Other results : 41300	0,00	0,00	0,00	0,00	0,00
A.1) OPERATING INCOME (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) : 49100	-20.025.000,00	-6.627.000,00	-9.829.000,00	-6.551.420,00	-8.828.000,00
14. Financial income : 41400	4.905.000,00	2.872.000,00	6.579.000,00	7.330.980,00	7.508.000,00
a) Of shares in equity instruments : 41410	0,00	0,00	0,00	250,00	1.000,00
a 1) In Group companies and associates: 41411	0,00	0,00	0,00	0,00	0,00
a 2) In third parties: 41412	0,00	0,00	0,00	250,00	1.000,00
b) From negotiable securities and other financial instruments : 41420	4.905.000,00	2.872.000,00	6.579.000,00	7.330.730,00	7.507.000,00
b 1) From Group companies and associates : 41421	4.638.000,00	2.712.000,00	6.102.000,00	6.992.310,00	6.992.000,00
b 2) From third parties : 41422	267.000,00	160.000,00	477.000,00	338.420,00	515.000,00
c) Allocation of financial subsidies, donations and legacies : 41430	0,00	0,00	0,00	0,00	0,00
15. Financial expenditure: 41500	-4.578.000,00	-305.000,00	-1.236.000,00	-1.148.680,00	-1.140.000,00
a) Amounts owed to Group companies and associates : 41510	-3.036.000,00	-219.000,00	0,00	0,00	0,00
b) For debts with third parties : 41520	-1.542.000,00	-86.000,00	-1.236.000,00	-1.148.680,00	-1.140.000,00
c) Stock renewal : 41530	0,00	0,00	0,00	0,00	0,00
16. Changes in fair value of financial instruments : 41600	-570.000,00	0,00	0,00	0,00	0,00
a) Trading book and other : 41610	-570.000,00	0,00	0,00	0,00	0,00
b) Allocation of financial assets held for sale to the result for the period: 41620	0,00	0,00	0,00	0,00	0,00
17. Exchange rate differences : 41700	-2.003.000,00	-5.000,00	0,00	0,00	0,00
18. Impairment and result for transfers of financial instruments: 41800	0,00	0,00	0,00	0,00	0,00
a) Impairment and losses : 41810	0,00	0,00	0,00	0,00	0,00
b) Results for transfers and other : 41820	0,00	0,00	0,00	0,00	0,00
19. Other financial income and expenditure: 42100	0,00	0,00	0,00	0,00	0,00
a) Incorporation of financial expenditure to assets: 42110	0,00	0,00	0,00	0,00	0,00
b) Financial income from arrangement with creditors: 42120	0,00	0,00	0,00	0,00	0,00
c) Other income and expenditure: 42130	0,00	0,00	0,00	0,00	0,00
A.2) FINANCIAL REVENUE (14+15+16+17+18+19) : 49200	-2.246.000,00	2.562.000,00	5.343.000,00	6.182.300,00	6.368.000,00
A.3) NET RESULT BEFORE TAXES (A.1+A.2) : 49300	-22.271.000,00	-4.065.000,00	-4.486.000,00	-369.120,00	-2.460.000,00
20. Income taxes: 41900	1.468.000,00	32.000,00	124.000,00	110.740,00	738.000,00
A.4) PROFIT AFTER TAXES (A.3+20) : 49400	-20.803.000,00	-4.033.000,00	-4.362.000,00	-258.380,00	-1.722.000,00
21. Result of the year coming from interrupted operations : 42000	0,00	0,00	0,00	0,00	-269.000,00
A.5) RESULT OF THE PERIOD (A.4+21) : 49500	-20.803.000,00	-4.033.000,00	-4.362.000,00	-258.380,00	-1.991.000,00

> 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, Axesor created 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	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
ASSETS	2013	2012	2011	2010	2009
A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:	0,00	0,00	0,00	0,00	0,00
B) FIXED ASSETS:	158.812.000,00	111.370.000,00	133.210.000,00	135.906.380,00	139.158.000,00
I. Formation expenses:	0,00	0,00	0,00	0,00	0,00
II. Intangible fixed assets:	283.000,00	168.000,00	213.000,00	272.490,00	80.000,00
1. Research and development costs:	176.000,00	0,00	195.000,00	244.110,00	0,00
2. Concessions, patents, licences, trademarks et al.:	98.000,00	146.000,00	0,00	0,00	0,00
3. Goodwill:	0,00	0,00	0,00	0,00	0,00
4. Key money paid for premises:	0,00	0,00	0,00	0,00	0,00
5. Software:	9.000,00	22.000,00	18.000,00	28.380,00	80.000,00
6. Assets under capital leases:	0,00	0,00	0,00	0,00	0,00
7. Payments on account:	0,00	0,00	0,00	0,00	0,00
8. Provisions:	0,00	0,00	0,00	0,00	0,00
9. Accumulated depreciation:	0,00	0,00	0,00	0,00	0,00
III. Tangible fixed assets:	61.985.000,00	14.310.000,00	13.859.000,00	16.104.450,00	19.171.000,00
1. Land and construction:	43.585.000,00	4.738.000,00	5.191.000,00	5.641.880,00	6.106.000,00
2. Technical installations and machinery:	11.763.475,00	6.937.341,00	6.282.164,00	7.582.785,00	9.468.905,00
3. Other installations, tools and furniture:	3.722.308,00	2.195.178,00	1.987.860,00	2.399.415,00	2.996.239,00
4. Payments on account and tangible fixed assets under construction:	2.169.000,00	0,00	0,00	0,00	0,00
5. Other tangible assets:	745.217,00	439.481,00	397.976,00	480.370,00	599.856,00
6. Provisions:	0,00	0,00	0,00	0,00	0,00
7. Accumulated depreciation:	0,00	0,00	0,00	0,00	0,00
IV. Financial investments:	96.544.000,00	96.892.000,00	119.138.000,00	119.529.440,00	119.907.000,00
1. Equity investments in group companies:	0,00	0,00	0,00	0,00	0,00
2. Receivables from group companies:	89.119.000,00	89.119.000,00	111.001.000,00	110.999.450,00	110.999.000,00
3. Equity investment in associated companies:	0,00	0,00	0,00	0,00	0,00
4. Credits to associated companies:	0,00	0,00	0,00	0,00	0,00
5. Long-term securities portfolio:	0,00	0,00	12.000,00	11.510,00	12.000,00
6. Other receivables:	4.561.000,00	4.992.000,00	5.404.000,00	5.797.830,00	6.174.000,00
7. Long term guarantees and deposits:	2.864.000,00	2.781.000,00	2.721.000,00	2.720.650,00	2.722.000,00
8. Provisions:	0,00	0,00	0,00	0,00	0,00
9. Long-term receivables from public bodies:	0,00	0,00	0,00	0,00	0,00
V. Own shares:	0,00	0,00	0,00	0,00	0,00
VI. Long-term trade receivables:	0,00	0,00	0,00	0,00	0,00
C) Deferred expenses:	0,00	0,00	0,00	0,00	0,00
D) CURRENT ASSETS:	117.712.000,00	67.580.000,00	114.077.000,00	118.978.010,00	109.046.000,00
I. Called-up share capital (not paid):	0,00	0,00	0,00	0,00	0,00
II. Stocks:	36.619.000,00	103.000,00	11.351.000,00	16.162.570,00	14.531.000,00
1. Goods for resale:	1.281.000,00	103.000,00	0,00	0,00	0,00
2. Raw materials and other consumables:	12.684.000,00	0,00	4.600.000,00	5.393.440,00	3.850.000,00
3. Goods in process and semifinished ones:	7.619.000,00	0,00	603.000,00	601.730,00	712.000,00
4. Finished products:	15.035.000,00	0,00	6.148.000,00	10.167.400,00	9.969.000,00
5. Byproducts, scrap and recovered materials:	0,00	0,00	0,00	0,00	0,00
6. Payments on account:	0,00	0,00	0,00	0,00	0,00
7. Provisions:	0,00	0,00	0,00	0,00	0,00
III. Debtors:	74.419.000,00	4.271.000,00	70.997.000,00	74.835.850,00	64.877.000,00
1. Trade debtors / accounts receivable:	56.561.000,00	994.000,00	9.575.000,00	21.797.780,00	12.990.000,00
2. Accounts receivable, Group companies:	11.059.000,00	2.494.000,00	60.906.000,00	52.647.920,00	51.471.000,00
3. Accounts receivable, associated companies:	0,00	0,00	0,00	0,00	0,00
4. Other debtors:	27.000,00	9.000,00	0,00	0,00	0,00
5. Staff:	399.000,00	0,00	0,00	1.580,00	0,00
6. Public bodies:	6.373.000,00	774.000,00	516.000,00	388.570,00	416.000,00
7. Provisions:	0,00	0,00	0,00	0,00	0,00
IV. Short-term investments:	4.759.000,00	62.701.000,00	2.273.000,00	1.878.780,00	1.366.000,00
1. Equity investments in group companies:	0,00	0,00	0,00	0,00	0,00
2. Receivables from group companies:	2.328.000,00	62.289.000,00	1.879.000,00	1.502.190,00	1.006.000,00
3. Equity investment in associated companies:	0,00	0,00	0,00	0,00	0,00
4. Credits to associated companies:	0,00	0,00	0,00	0,00	0,00
5. Short term securities portfolio:	0,00	0,00	0,00	0,00	0,00
6. Other receivables:	2.431.000,00	412.000,00	0,00	0,00	0,00
7. Shor term guarantees and deposits:	0,00	0,00	394.000,00	376.590,00	360.000,00
8. Provisions:	0,00	0,00	0,00	0,00	0,00
V. Short-term treasury shares:	0,00	0,00	0,00	0,00	0,00
VI. Cash at bank and in hand:	1.825.000,00	422.000,00	29.445.000,00	26.088.420,00	28.246.000,00
VII. Prepayments and accrued income:	90.000,00	83.000,00	11.000,00	12.390,00	26.000,00
GENERAL TOTAL (A + B + C + D):	276.524.000,00	178.950.000,00	247.287.000,00	254.884.390,00	248.204.000,00

MERCANTILE REGISTRY.

	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
LIABILITIES	2013	2012	2011	2010	2009
A) EQUITY:	128.801.000,00	159.180.900,00	163.725.000,00	166.721.690,00	167.979.000,00
I. Subscribed capital:	58.178.000,00	58.178.000,00	58.178.000,00	58.178.230,00	58.178.000,00
II. Share premium:	22.610.000,00	0,00	74.701.000,00	74.701.370,00	75.701.000,00
III. Revaluation reserves:	0,00	0,00	0,00	0,00	0,00
IV. Reserves:	73.560.000,00	105.746.900,00	38.433.000,00	37.067.280,00	37.067.000,00
1. Legal reserve:	7.614.000,00	4.613.000,00	4.613.000,00	4.612.920,00	4.613.000,00
2. Reserves for own shares:	0,00	0,00	0,00	0,00	0,00
3. Reserves for shares of the controlling company:	0,00	0,00	0,00	0,00	0,00
4. Statutory reserves:	0,00	0,00	0,00	0,00	0,00
5. Miscellaneous reserves:	65.946.000,00	101.133.900,00	33.820.000,00	32.454.360,00	32.454.000,00
Differences due to capital adjustement to euros:	0,00	0,00	0,00	0,00	0,00
V. Profit or loss brought forward:	-4.744.000,00	-711.000,00	-3.225.000,00	-2.966.810,00	-976.000,00
1. Retained earnings:	0,00	0,00	0,00	0,00	0,00
2. Prior year losses:	-4.744.000,00	-711.000,00	-3.225.000,00	-2.966.810,00	-976.000,00
3. Partners' contributions so as to compensate losses:	0,00	0,00	0,00	0,00	0,00
VI. Profit or loss for the financial year:	-20.803.000,00	-4.033.000,00	-4.362.000,00	-258.380,00	-1.991.000,00
VII. Interim dividend paid:	0,00	0,00	0,00	0,00	0,00
VIII. Own shares for capital reduction:	0,00	0,00	0,00	0,00	0,00
B) Deferred income:	0,00	2.100,00	0,00	0,00	0,00
1. Capital grants:	0,00	2.100,00	0,00	0,00	0,00
2. Unrealised exchange gains:	0,00	0,00	0,00	0,00	0,00
3. Other deferred income:	0,00	0,00	0,00	0,00	0,00
4. Public revenues to distribute in several financial years:	0,00	0,00	0,00	0,00	0,00
C) PROVISIONS FOR LIABILITIES AND CHARGES:	691.000,00	53.000,00	0,00	0,00	0,00
1. Provisions for pension fund and other similar obligations:	691.000,00	53.000,00	0,00	0,00	0,00
2. Provisions for taxes:	0,00	0,00	0,00	0,00	0,00
3. Other provisions:	0,00	0,00	0,00	0,00	0,00
4. Reversion fund:	0,00	0,00	0,00	0,00	0,00
D) LONG TERM LIABILITIES:	40.721.000,00	7.748.000,00	8.425.000,00	8.885.590,00	9.129.000,00
I. Issued debentures and other marketable securities:	0,00	0,00	0,00	0,00	0,00
1. Non-convertible debentures:	0,00	0,00	0,00	0,00	0,00
2. Convertible debentures:	0,00	0,00	0,00	0,00	0,00
3. Other debt securities:	0,00	0,00	0,00	0,00	0,00
II. Amounts owed to credit institutions:	6.398.000,00	6.922.000,00	7.396.000,00	7.673.860,00	7.928.000,00
1. Loans and other liabilities:	245.000,00	273.000,00	288.000,00	139.840,00	0,00
2. Long-term liabilities from capital leases:	6.153.000,00	6.649.000,00	7.108.000,00	7.534.020,00	7.928.000,00
III. Debts with companies of the group and affiliated ones:	30.000.000,00	0,00	0,00	0,00	0,00
1. Amounts owed to group companies:	30.000.000,00	0,00	0,00	0,00	0,00
2. Amounts owed to associated companies:	0,00	0,00	0,00	0,00	0,00
IV. Other creditors:	4.323.000,00	826.000,00	1.029.000,00	1.211.730,00	1.201.000,00
1. Long-term bills of exchange payable:	0,00	0,00	0,00	0,00	0,00
2. Other creditors:	0,00	0,00	0,00	0,00	0,00
3. Long term guarantees and deposits received:	0,00	0,00	0,00	0,00	0,00
4. Long term payables to public bodies:	4.323.000,00	826.000,00	1.029.000,00	1.211.730,00	1.201.000,00
V. Unpaid portion of equity investment:	0,00	0,00	0,00	0,00	0,00
1. Group companies:	0,00	0,00	0,00	0,00	0,00
2. Associated companies:	0,00	0,00	0,00	0,00	0,00
3. Third parties:	0,00	0,00	0,00	0,00	0,00
VI. Long term trade creditors:	0,00	0,00	0,00	0,00	0,00
E) SHORT TERM CREDITORS:	105.661.000,00	11.866.000,00	73.896.000,00	79.277.110,00	71.096.000,00
I. Issued debentures and other marketable securities:	0,00	0,00	0,00	0,00	0,00
1. Non-convertible debentures:	0,00	0,00	0,00	0,00	0,00

2. Convertible debentures:	0,00	0,00	0,00	0,00	0,00
3. Other debt securities:	0,00	0,00	0,00	0,00	0,00
4. Accrued interest on debentures and other debt securities:	0,00	0,00	0,00	0,00	0,00
II. Amounts owed to credit institutions:	496.000,00	459.000,00	441.000,00	458.240,00	592.000,00
1. Loans and other liabilities:	0,00	0,00	15.000,00	63.740,00	226.000,00
2. Accrued interest on liabilities with credit institutions:	0,00	0,00	0,00	0,00	0,00
3. Short-term liabilities from capital leases:	496.000,00	459.000,00	426.000,00	394.500,00	366.000,00
III. Short-term amounts owed to group and associated companies:	45.060.000,00	1.514.000,00	8.872.000,00	16.266.350,00	12.090.000,00
1. Amounts owed to group companies:	45.060.000,00	1.514.000,00	8.872.000,00	16.266.350,00	12.090.000,00
2. Amounts owed to associated companies:	0,00	0,00	0,00	0,00	0,00
IV. Trade creditors:	52.496.000,00	8.292.000,00	63.746.000,00	60.892.210,00	57.155.000,00
1. Advanced payments from customers:	1.849.000,00	0,00	0,00	0,00	0,00
2. Amounts owed for purchases of goods or services:	50.647.000,00	8.292.000,00	63.746.000,00	60.892.210,00	57.155.000,00
3. Debts represented by notes payable:	0,00	0,00	0,00	0,00	0,00
V. Other creditors:	7.492.000,00	1.601.000,00	837.000,00	1.660.310,00	1.259.000,00
1. Public bodies:	2.908.000,00	339.000,00	658.000,00	1.349.580,00	896.000,00
2. Bills of exchange payable:	0,00	0,00	0,00	0,00	0,00
3. Miscellaneous debts:	0,00	1.073.000,00	0,00	0,00	0,00
4. Wages and salaries payable:	4.584.000,00	189.000,00	179.000,00	310.730,00	363.000,00
5. Guarantees and deposits received at short term:	0,00	0,00	0,00	0,00	0,00
VI. Provisions:	0,00	0,00	0,00	0,00	0,00
VII. Prepayments and accrued income:	117.000,00	0,00	0,00	0,00	0,00
F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:	650.000,00	100.000,00	1.241.000,00	0,00	0,00
GENERAL TOTAL (A + B + C + D + E + F):	276.524.000,00	178.950.000,00	247.287.000,00	254.884.390,00	248.204.000,00

MERCANTILE REGISTRY.

	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
DEBIT	2013	2012	2011	2010	2009
A) CHARGES (A.1 to A.15):	300.020.000,00	30.405.000,00	109.679.000,00	112.171.180,00	92.404.000,00
A.1. Stock reduction of both manufactured goods and the ones in process:	4.509.000,00	8.143.000,00	3.503.000,00	0,00	7.165.000,00
A.2. Supplies:	186.985.000,00	12.120.000,00	80.544.000,00	88.569.380,00	60.928.000,00
a) Stock consumption:	26.574.000,00	103.000,00	5.083.000,00	7.488.020,00	6.512.000,00
b) Consumption of raw materials and miscellaneous consumable ones:	159.861.000,00	12.017.000,00	75.461.000,00	81.081.360,00	54.416.000,00
c) Miscellaneous external expenditure:	550.000,00	0,00	0,00	0,00	0,00
A.3. Staff costs:	38.628.000,00	4.857.000,00	12.070.000,00	9.631.070,00	11.642.000,00
a) Wages, salaries et al.:	31.052.000,00	3.938.000,00	10.021.000,00	7.729.130,00	9.617.000,00
b) Social security costs:	7.576.000,00	919.000,00	2.049.000,00	1.901.940,00	2.025.000,00
A.4. Depreciation expense:	5.735.000,00	948.000,00	2.505.000,00	3.442.230,00	3.679.000,00
A.5. Variation of trade provisions and losses of unrecovered receivables:	4.718.000,00	-19.000,00	568.000,00	86.800,00	-1.669.000,00
a) Stock provision variation:	3.959.000,00	-19.000,00	509.000,00	-7.360,00	-1.424.000,00
b) Variation in provision and bad debt losses:	0,00	0,00	59.000,00	94.160,00	-245.000,00
c) Variation of other trade provisions:	759.000,00	0,00	0,00	0,00	0,00
A.6. Other operating charges:	51.262.000,00	4.078.000,00	9.377.000,00	9.403.760,00	9.988.000,00
a) External services:	50.081.000,00	3.920.000,00	9.070.000,00	9.106.710,00	9.652.000,00
b) Taxes:	1.181.000,00	158.000,00	307.000,00	297.050,00	336.000,00
c) Other operating expenses:	0,00	0,00	0,00	0,00	0,00
d) Allocation to revision fund:	0,00	0,00	0,00	0,00	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):	0,00	0,00	0,00	0,00	0,00
A.7. Financial and similar charges:	4.578.000,00	305.000,00	1.236.000,00	1.148.680,00	1.140.000,00
a) Due to liabilities with companies of the group:	3.036.000,00	219.000,00	0,00	0,00	0,00
b) Due to liabilities with associated companies:	0,00	0,00	0,00	0,00	0,00
c) Due to other debts.:	1.542.000,00	86.000,00	1.236.000,00	1.148.680,00	1.140.000,00
d) Losses from financial investments:	0,00	0,00	0,00	0,00	0,00
A.8. Changes in financial investment provisions:	570.000,00	0,00	0,00	0,00	0,00
A.9. Exchange losses:	2.003.000,00	5.000,00	0,00	0,00	0,00
A.II. NET FINANCIAL INCOME (B.5+B.6+B.7+B.8-A.7-A.8-A.9):	0,00	2.562.000,00	5.343.000,00	6.182.300,00	6.368.000,00
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II):	0,00	0,00	0,00	0,00	0,00
A.10. Changes in provisions for intangible, tangible and securities portfolio:	2.500.000,00	0,00	0,00	0,00	0,00
A.11. Losses from tangible and intangible fixed assets and securities portfolio:	0,00	0,00	0,00	0,00	0,00
A.12. Losses from transactions with own shares and debentures:	0,00	0,00	0,00	0,00	0,00
A.13. Extraordinary expenses:	0,00	0,00	0,00	0,00	269.000,00
A.14. Expenses and losses of former financial years:	0,00	0,00	0,00	0,00	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	309.000,00	6.000,00	1.560,00	0,00
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV):	0,00	0,00	0,00	0,00	0,00
A.15. Corporation tax:	-1.468.000,00	-32.000,00	-124.000,00	-110.740,00	-738.000,00
A.16. Miscellaneous taxes:	0,00	0,00	0,00	0,00	0,00
A.VI. FINANCIAL YEAR RESULTS (PROFIT) (A.V-A.15-A.16):	0,00	0,00	0,00	0,00	0,00

MERCANTILE REGISTRY.

	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
CREDIT	2013	2012	2011	2010	2009
B) INCOME ( B.1 to B.13):	279.217.000,00	26.372.000,00	105.317.000,00	111.912.800,00	90.413.000,00
B.1. Net total sales:	271.437.000,00	23.131.000,00	98.617.000,00	103.929.980,00	82.393.000,00
a) Sales:	296.037.837,00	22.028.533,00	108.467.538,00	114.311.215,00	90.622.975,00
b) Rendering of services:	2.284.000,00	3.103.000,00	0,00	0,00	0,00
Returns and Rappel on sales:	-26.884.837,00	-2.000.533,00	-9.850.538,00	-10.381.235,00	-8.229.975,00
B.2. Stock increase of manufactured goods and products in process:	0,00	0,00	0,00	78.970,00	0,00
B.3. Works performed by the company for fixed assets:	0,00	0,00	0,00	244.110,00	0,00
B.4. Miscellaneous operating income:	1.980.000,00	60.000,00	115.000,00	327.200,00	512.000,00
a) Auxiliary income and other from current management:	1.980.000,00	60.000,00	115.000,00	327.200,00	428.000,00
b) Grants:	0,00	0,00	0,00	0,00	84.000,00
c) Liabilities and charges provisions surplus:	0,00	0,00	0,00	0,00	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):	18.420.000,00	6.936.000,00	9.835.000,00	6.552.980,00	8.828.000,00
B.5. Income from equity investment:	0,00	0,00	0,00	250,00	1.000,00
a) In companies of the group:	0,00	0,00	0,00	0,00	0,00
b) In associated companies:	0,00	0,00	0,00	0,00	0,00
c) Third parties:	0,00	0,00	0,00	250,00	1.000,00
B.6. Income from other marketable securities and long-term receivables:	0,00	0,00	0,00	0,00	0,00
a) From companies of the group:	0,00	0,00	0,00	0,00	0,00
b) From associated companies:	0,00	0,00	0,00	0,00	0,00
c) From companies out of the group:	0,00	0,00	0,00	0,00	0,00
B.7. Miscellaneous interests or similar income:	4.905.000,00	2.872.000,00	6.579.000,00	7.330.730,00	7.507.000,00
a) From companies of the group:	4.638.000,00	2.712.000,00	6.102.000,00	6.992.310,00	6.992.000,00
b) From associated companies:	0,00	0,00	0,00	0,00	0,00
c) Miscellaneous interests:	267.000,00	160.000,00	477.000,00	338.420,00	515.000,00
d) Profit on financial investment:	0,00	0,00	0,00	0,00	0,00
B.8. Exchange positive differences:	0,00	0,00	0,00	0,00	0,00
B.II. NEGATIVE FINANCIAL RESULTS (A.7+A.8+A.9-B.5-B.6-B.7-B.8):	2.246.000,00	0,00	0,00	0,00	0,00
B.III. LOSSES ON ORDINARY ACTIVITIES ( B.I + B.II - A.I - A.II ):	20.666.000,00	4.374.000,00	4.492.000,00	370.680,00	2.460.000,00
B.9.Profit on disposal of both tangible and intangible fixed assets and securities portfolio:	895.000,00	309.000,00	6.000,00	1.560,00	0,00
B.10. Profit on transactions with own shares and debentures:	0,00	0,00	0,00	0,00	0,00
B.11. Capital grants transferred to profit and loss:	0,00	0,00	0,00	0,00	0,00
B.12. Extraordinary income:	0,00	0,00	0,00	0,00	0,00
B.13. Income and profit of former financial years:	0,00	0,00	0,00	0,00	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):	1.605.000,00	0,00	0,00	0,00	269.000,00
B.V. LOSSES BEFORE TAXES (B.III+B.IV-A.III-A.IV):	22.271.000,00	4.065.000,00	4.486.000,00	369.120,00	2.729.000,00
B.VI. RESULT OF THE PERIOD (LOSSES) (B.V+A.15+A.16):	20.803.000,00	4.033.000,00	4.362.000,00	258.380,00	1.991.000,00

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	-22.271.000,00	-4.065.000,00	-4.486.000,00	-369.130,00	-3.144.000,00
2. Results adjustments.: 61200	14.849.000,00	-2.107.000,00	-1.023.000,00	-2.654.830,00	-6.098.000,00
a) Fixed Assets Amortization (+).: 61201	5.735.000,00	948.000,00	2.505.000,00	3.442.230,00	3.679.000,00
b) Obsolescence Allowances (+/-). : 61202	7.060.000,00	-232.000,00	509.000,00	-7.000,00	261.000,00
c) Variation in Provision (+/-). : 61203	706.000,00	53.000,00	1.300.000,00	90.000,00	-1.801.000,00
d) Allocation of grants (-).: 61204	-3.000,00	0,00	0,00	0,00	-197.000,00
e) Results on disposal of fixed assets (+/-). : 61205	-895.000,00	-309.000,00	6.000,00	2.000,00	-1.672.000,00
g) Financial income (-).: 61207	-4.905.000,00	-2.872.000,00	-6.579.000,00	-7.330.740,00	-7.508.000,00
h) Financial Expenses (+). : 61208	4.578.000,00	305.000,00	1.236.000,00	1.148.680,00	1.140.000,00
i) Exchange differences (+/-). : 61209	2.003.000,00	0,00	0,00	0,00	0,00
j) Reasonable Value Variation in Financial Instruments (+/-).: 61210	570.000,00	0,00	0,00	0,00	0,00
3. Changes in current capital equity.: 61300	-981.000,00	8.086.000,00	2.262.000,00	-3.221.000,00	6.198.000,00
a) Stock (+/-).: 61301	5.846.000,00	14.931.000,00	4.302.000,00	-1.624.000,00	8.913.000,00
d) Debtors and other accounts receivable (+/-). : 61302	9.573.000,00	28.549.000,00	3.468.000,00	-10.036.000,00	-21.411.000,00
c) Other current assets (+/-). : 61303	183.000,00	14.000,00	0,00	0,00	0,00
d) Creditors and other accounts payable (+/-). : 61304	-16.410.000,00	-35.215.000,00	-5.508.000,00	8.439.000,00	20.372.000,00
e) Other current liabilities (+/-).: 61305	-173.000,00	-193.000,00	0,00	0,00	-1.676.000,00

4. Other cash flows for operating activities.: 61400	-1.371.000,00	1.535.000,00	5.343.000,00	5.685.000,00	6.960.000,00
a) Interest payments (-). : 61401	-6.276.000,00	-305.000,00	-1.236.000,00	-1.150.000,00	-1.178.000,00
c) Interest collection (+). : 61403	4.905.000,00	1.840.000,00	6.579.000,00	6.835.000,00	8.138.000,00
5. Operating activity cash flows (1 + 2 + 3 + 4) : 61500	-9.774.000,00	3.449.000,00	2.096.000,00	-559.960,00	3.916.000,00
6. Payments for investment (-).: 62100	-4.107.000,00	-4.814.000,00	-222.000,00	-570.000,00	-588.000,00
a) Companies of the group and affiliates. : 62101	0,00	-3.502.000,00	0,00	0,00	0,00
c) Fixed assets. : 62103	-2.103.000,00	-1.312.000,00	-222.000,00	-570.000,00	-588.000,00
e) Other financial assets. : 62105	-2.004.000,00	0,00	0,00	0,00	0,00
7. Divestment payment collection (+). : 62200	67.855.000,00	545.000,00	268.000,00	359.000,00	7.229.000,00
a) Companies of the group and affiliates. : 62201	63.808.000,00	0,00	0,00	0,00	0,00
c) Fixed assets. : 62203	1.305.000,00	346.000,00	0,00	0,00	6.877.000,00
e) Other financial assets. : 62205	412.000,00	199.000,00	268.000,00	0,00	352.000,00
h) Other assets. : 62208	2.330.000,00	0,00	0,00	359.000,00	0,00
8. Investment activity cash flows (6 + 7) minus Amortization: 62300	63.748.000,00	-4.269.000,00	46.000,00	-211.000,00	6.641.000,00
9. Payment collection and payments for equity instruments. : 63100	0,00	0,00	0,00	0,00	0,00
10. Payment collection and payments for financial liabilities instruments.: 63200	-52.806.000,00	-48.000,00	-151.000,00	-387.000,00	-1.358.000,00
a) Issuance : 63201	1.860.000,00	191.000,00	127.000,00	140.000,00	0,00
2. Debts incurred with credit institutions (+). : 63203	0,00	0,00	127.000,00	140.000,00	0,00
3. Debts incurred with companies of the group and affiliates (+).: 63204	1.860.000,00	191.000,00	0,00	0,00	0,00
b) Repayment and amortization of : 63207	-54.666.000,00	-239.000,00	-278.000,00	-527.000,00	-1.358.000,00
2. Debts incurred with credit institutions (-).: 63209	-488.000,00	-239.000,00	0,00	-527.000,00	-1.358.000,00
3. Debts incurred with companies of the group and affiliates (-). : 63210	-53.105.000,00	0,00	-278.000,00	0,00	0,00
5. Other debts (-). : 63212	-1.073.000,00	0,00	0,00	0,00	0,00
11. Payments from dividends and remunerations from other assets instruments. : 63300	0,00	0,00	1.366.000,00	-1.000.000,00	0,00
a) Dividends (-).: 63301	0,00	0,00	0,00	-1.000.000,00	0,00
b) Remuneration from other assets instruments (-).: 63302	0,00	0,00	1.366.000,00	0,00	0,00
12. Cash flows for financing activities (9+10+11).: 63400	-52.806.000,00	-48.000,00	1.215.000,00	-1.387.000,00	-1.358.000,00
D) EFFECT OF EXCHANGE RATE CHANGES: 64000	235.000,00	0,00	0,00	0,00	0,00
E) NET INCREASE/DECREASE OF CASH OR EQUIVALENT ASSETS (+/-5+/-8+/12+/-D) : 65000	1.403.000,00	-868.000,00	3.357.000,00	-2.157.960,00	9.199.000,00
Cash or equivalent assets as of beginning of the fiscal year.: 65100	422.000,00	1.290.000,00	26.088.000,00	28.246.380,00	19.047.000,00
Cash or equivalent assets as of end of the fiscal year.: 65200	1.825.000,00	422.000,00	29.445.000,00	26.088.420,00	28.246.000,00

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:	0,01 %	0,02 %	-1,25 %	0,01 %	100,41 %	132,27 %
EBITDA over Sales:	-4,67 %	11,47 %	-25,89 %	9,23 %	81,95 %	24,30 %
Cash Flow Yield:	0,01 %	0,01 %	-0,16 %	0,00 %	103,13 %

Profitability	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Operating economic profitability:	-11,43 %	7,13 %	-34,24 %	5,21 %	66,62 %	36,75 %
Total economic profitability:	-6,40 %	3,91 %	-2,10 %	2,49 %	-204,52 %	57,33 %
Financial profitability:	-16,18 %	4,61 %	-2,53 %	1,31 %	-538,65 %	252,45 %
Margin:	-7,32 %	6,88 %	-28,58 %	4,85 %	74,37 %	41,82 %
Mark-up:	-8,15 %	4,77 %	-17,53 %	1,58 %	53,53 %	201,23 %

Solvency	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Liquidity:	0,02	0,13	0,04	0,12	-51,43	15,42
Acid Test:	0,71	0,86	5,67	0,85	-87,54	1,43
Working Capital / Investment:	0,02	0,05	0,31	0,03	-94,13	98,49
Solvency:	1,11	1,18	5,70	1,17	-80,44	0,64

Indebtedness	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Indebtedness level:	1,13	1,35	0,12	1,63	819,41	-16,99
Borrowing Composition:	0,39	0,99	0,65	1,03	-40,98	-3,88
Repayment Ability:	104,33	77,23	-0,68	192,77	15.538,53	-59,94
Warranty:	1,89	1,75	9,12	1,62	-79,29	7,93
Generated resources / Total creditors:	-0,08	0,09	-0,16	0,07	52,05	29,52

Efficiency	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Productivity:	0,67	1,88	-0,23	1,73	388,42	8,82
Turnover of Collection Rights :	4,02	5,10	5,62	4,79	-28,46	6,36
Turnover of Payment Entitlements:	3,45	3,68	0,81	3,52	325,56	4,79
Stock rotation:	7,97	7,40	292,50	6,49	-97,28	13,98
Assets turnover:	1,56	1,04	1,20	1,08	30,24	-3,58
Borrowing Cost:	3,13	2,83	1,56	2,95	101,12	-3,99

> 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:	0,01 %	-1,25 %	0,03 %	-0,02 %	0,11 %
EBITDA over Sales:	-4,67 %	-25,89 %	-7,43 %	-2,99 %	-6,25 %
Cash Flow Yield:	0,01 %	-0,16 %	0,01 %	-0,01 %	0,04 %

Profitability	2013	2012	2011	2010	2009
Operating economic profitability:	-11,43 %	-34,24 %	-7,81 %	-4,91 %	-6,95 %
Total economic profitability:	-6,40 %	-2,10 %	-1,31 %	0,31 %	-0,53 %
Financial profitability:	-16,18 %	-2,53 %	-2,66 %	-0,15 %	-1,19 %
Margin:	-7,32 %	-28,58 %	-9,96 %	-6,27 %	-10,65 %
Mark-up:	-8,15 %	-17,53 %	-4,54 %	-0,35 %	-2,97 %

Solvency	2013	2012	2011	2010	2009
Liquidity:	0,02	0,04	0,40	0,33	0,40
Acid Test:	0,71	5,67	1,39	1,29	1,32
Working Capital / Investment:	0,02	0,31	0,16	0,15	0,15
Solvency:	1,11	5,70	1,54	1,50	1,53

Indebtedness	2013	2012	2011	2010	2009
Indebtedness level:	1,13	0,12	0,50	0,53	0,48
Borrowing Composition:	0,39	0,65	0,11	0,11	0,13
Repayment Ability:	104,33	-0,68	24,53	-40,86	8,72
Warranty:	1,89	9,12	3,00	2,89	3,09
Generated resources / Total creditors:	-0,08	-0,16	-0,02	0,04	0,00

Efficiency	2013	2012	2011	2010	2009
Productivity:	0,67	-0,23	0,39	0,68	0,56
Turnover of Collection Rights :	4,02	5,62	1,40	1,40	1,28
Turnover of Payment Entitlements:	3,45	0,81	1,25	1,31	0,93
Stock rotation:	7,97	292,50	9,56	6,87	6,31
Assets turnover:	1,56	1,20	0,78	0,78	0,65
Borrowing Cost:	3,13	1,56	1,50	1,30	1,42

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

ABC	08/02/2014
Acuerdo en Draka Cables para el despido de 22 empleados con 45 días por año
Companies related
Europa Press	27/01/2014
Draka Cables presenta un ERE para despedir a 30 empleados de Santa Perpètua (Barcelona)
Companies related

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Detail of Subsidies appearing in Balances Memories

Entity	ORGANISMO NO ESPECIFICADO
Subsidy Concept	Subvención de capital.
Status	CONCEDIDA
Amount Granted	115.000,00
Notes	Dicho importe corresponde al imputado a resultados del ejercicio, quedando un saldo al cierre de 262.000,00 euros. Dicha subvención destinada a la financiación de maquinaria y proyectos de I+D.

Entity	ORGANISMO NO ESPECIFICADO
Subsidy Concept	Subvención de capital.
Status	CONCEDIDA
Amount Granted	66.000,00
Notes	Dicho importe corresponde al imputado a resultados del ejercicio.

Entity	ORGANISMO NO ESPECIFICADO
Subsidy Concept	Subvención de capital.
Status	CONCEDIDA
Amount Granted	131.000,00
Notes	El importe reflejado corresponde al traspasado a resultados durante el ejercicio. Las subvenciones han sido destinadas a la financiación de maquinaria y proyectos de I+D. Sin embargo las recibidas durante el ejercicio fueron destinadas, exclusivamente, a proyectos I+D.

Research Summary

Company founded for many years now, with experience in its sector. Its billing was increased considerably in 2013 in comparison with the previous year. The company has a positive working capital, so it would be able to meet the payment obligatinos in a short term.

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.61.85
UK Pound	1	Rs.94.96
Euro	1	Rs.69.10

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.