MIRA INFORM REPORT

Report No. :	309140
Report Date :	09.03.2015

IDENTIFICATION DETAILS

Name :	SOCIEDAD ESPAÑOLA DE MONTAJES INDUSTRIALES SA
Registered Office :	C/ Manzanares , 4, Madrid, Postal Code 28005
Country :	Spain
Financials (as on) :	2013
Date of Incorporation :	18.05.1923
Legal Form :	Public Company
Line of Business :	engaged in the realization of electrical and Industrial Assembly
No of Employees :	Not Available [NOTE: We tried to confirm the number of employees but no one is ready to part any information from the company management.]

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 :	No Complaints
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Spain	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:	SOCIEDAD ESPAÑOLA DE MONTAJES INDUSTRIALES SA
NIF / Fiscal code:	A28018083
Trade Name	SEMI
Status:	ACTIVE
Incorporation Date:	18/05/1923
Legal Form :	Public Company
Register Data	Register Section 8 Sheet 32356
Last Publication in BORME:	25/02/2015 [Appointments]
Last Published Account Deposit:	2013
Share Capital:	5.258.855,91
Localization:	C/ MANZANARES , 4 - MADRID - 28005 - MADRID
Telephone - Fax - Email - Website:	Ph.:. 917 017 700 Email. barquillo19@semi.es Website. www.semi.es
Number of Branches	16
Activity:
NACE:	4321 - Electrical installation
Registered Trademarks:
Audited / Opinion:	Si /
Tenders and Awards:	100 for a total cost of NaN
Subsidies:	0 for a total cost of 0
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			None	---	---
Judicial Claims (Notices, Executive Proceedings, Attachments, Auctions, Bad Debt)			4	0	---
Proceedings heard by the Civil Court			Unpublished	0	---
Proceedings heard by the Labour Court			3	0	---

Partners:
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA.	---
ACS SERVICIOS COMUNICACIONES Y ENERGIA SL	99.99 %
Shares:	77
Other Links:	8
No. of Active Corporate Bodies:	SINGLE ADMINISTRATOR 1

Guarantees:
Properties Registered:	Company NO, Administrator NO
Financing / Guarantee Sources :	Sources YES, Guarantees YES
INVESTIGATION SUMMARY
Company founded for many years ago, fact which provides it enough experience in its sector and enjoys good concept in general among the information sources consulted. Its billing was reduced 253.69% due to the current economical crisis. It meets with normality the payment obligations.

Identification
Social Denomination:	SOCIEDAD ESPAÑOLA DE MONTAJES INDUSTRIALES SA
Trade Name:	SEMI
NIF / Fiscal code:	A28018083
Corporate Status:	ACTIVE
Start of activity:	1923
Registered Office:	C/ MANZANARES , 4
Locality:	MADRID
Province:	MADRID
Postal Code:	28005
Telephone:	917 017 700
Fax:	915 218 597
Website:	www.semi.es
Email:	barquillo19@semi.es

Branch Offices

Address	Postal Code	City	Province
CALLE SIERRA DE MARIA 20 ESQUINA SIERRA ALAMILLA	04204	VIATOR	ALMERIA
TRAVE INDUSTRIAL 87	08907	HOSPITALET DE LLOBREGAT (L')	BARCELONA
CALLE DEL MIG 5 7	08110	MONTCADA I REIXAC	BARCELONA
CALLE VICTOR BALAGUER 19 21	08205	SABADELL	BARCELONA
CALLE OAXACA S/N	10005	CACERES	CACERES
RONDA CARMEN 4 6 LOCAL	13002	CIUDAD REAL	CIUDAD REAL
CALLE COPERNICO 1 1ª PLANTA	15008	CORUÑA (A)	LA CORUÑA
CALLE LEONARDO DA VINCI 1 BAJO	15199	CULLEREDO	LA CORUÑA
AVENI CRISTOBAL COLON 206	19004	GUADALAJARA	GUADALAJARA
CALLE REYES LEONESES 50 BAJO	24008	LEON	LEON
CALLE ROSALIND FRANKLIN 2	29590	MALAGA	MALAGA
CALLE AZCARRAGA 35 37 OFICINA B	33010	OVIEDO	ASTURIAS
CALLE CORREGIDOR AGUIRRE 18	35214	TELDE	LAS PALMAS
CALLE DEL PLOM 7 NAVE 4C 5C	43006	TARRAGONA	TARRAGONA
CALLE DEL FERRO 129	43006	TARRAGONA	TARRAGONA
CALLE RIO GALLEGO 24	50410	CUARTE DE HUERVA	ZARAGOZA

Activity

NACE:	4321
Additional Information:	The company is engaged in the realization of electrical and industrial assembly. It belongs to the group of Industrial Services ACS. The company has affiliated companies in France, Germany, Italy, Bulgary, Romania, Turkey, Morocco, India, USA, Venezuela, Mexico, Chile, Colombia, Peru and Urugay. It has also partners in other countries, such us Portugal, Israel, Nigeria or Brazil. - Additional Address: C/ MANZANARES , 4 28005 MADRID , registered office, head offices. Structure of the factories Industrial Estate of Henares C/ Cristóbal Colón, 206 19004 - GUADALAJARA General storage Highway Alcalá de Henares a Daganzo Km, 6,400 28806 Alcalá de Henares - MADRID
Import / export:	EXPORTS
Future Perspective:	Face recession
Industry situation:	Maturity

Chronological Summary

Year	Act
1990	Accounts deposit (ejer. 1989) Appointments/ Re-elections (7) Cessations/ Resignations/ Reversals (1)
1991	Adaptation to Law (1) Appointments/ Re-elections (5) Capital Reduction (2) Cessations/ Resignations/ Reversals (2) Increase of Capital (2) Statutory Modifications (1)
1992	Accounts deposit (ejer. 1990, 1991) Capital Reduction (1) Dividends Payment (1)
1993	Accounts deposit (ejer. 1992) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (2) Change of Social Denomination (1) Change of Social address (1) Increase of Capital (2) Statutory Modifications (1) Take-over Merger (2)
1994	Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Increase of Capital (1)
1995	Accounts deposit (ejer. 1993, 1994) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (2)
1996	Accounts deposit (ejer. 1995) Appointments/ Re-elections (2)
1997	Board Meeting (1)
1998	Accounts deposit (ejer. 1996, 1997) Appointments/ Re-elections (2) Board Meeting (1) Cessations/ Resignations/ Reversals (1)
1999	Accounts deposit (ejer. 1998) Appointments/ Re-elections (2) Board Meeting (1)
2000	Appointments/ Re-elections (3) Board Meeting (1) Errata (3) Other Concepts/ Events (2)
2001	Accounts deposit (ejer. 1999) Appointments/ Re-elections (3) Board Meeting (1)
2002	Accounts deposit (ejer. 2000, 2001) Appointments/ Re-elections (1) Board Meeting (1) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (1)
2003	Accounts deposit (ejer. 2002) Appointments/ Re-elections (4) Board Meeting (1) Cessations/ Resignations/ Reversals (1)
2004	Board Meeting (2)
2005	Accounts deposit (ejer. 2003, 2004) Appointments/ Re-elections (10) Board Meeting (1) Cessations/ Resignations/ Reversals (1)
2006	Accounts deposit (ejer. 2005) Appointments/ Re-elections (8) Board Meeting (1) Cessations/ Resignations/ Reversals (1)
2007	Accounts deposit (ejer. 2006) Appointments/ Re-elections (5) Board Meeting (1) Cessations/ Resignations/ Reversals (1)
2008	Accounts deposit (ejer. 2007) Appointments/ Re-elections (25) Board Meeting (1) Cessations/ Resignations/ Reversals (2) Change of Social Purpose (1) Change of Social address (1) Errata (2) Other Concepts/ Events (1)
2009	Accounts deposit (ejer. 2008) Appointments/ Re-elections (10) Board Meeting (1) Cessations/ Resignations/ Reversals (5)
2010	Appointments/ Re-elections (7) Board Meeting (1) Cessations/ Resignations/ Reversals (3) Errata (2) Other Concepts/ Events (1)
2011	Accounts deposit (ejer. 2009, 2010) Appointments/ Re-elections (34) Cessations/ Resignations/ Reversals (4) Other Concepts/ Events (1) Statutory Modifications (1)
2012	Accounts deposit (ejer. 2011) Appointments/ Re-elections (38) Cessations/ Resignations/ Reversals (11) Statutory Modifications (1)
2013	Accounts deposit (ejer. 2012) Appointments/ Re-elections (28) Cessations/ Resignations/ Reversals (8) Other Concepts/ Events (1)
2014	Accounts deposit (ejer. 2013) Appointments/ Re-elections (6) Cessations/ Resignations/ Reversals (4)
2015	Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (3)

Breakdown of Owners' Equity

Registered Capital:	5.258.855,91
Paid up capital:	5.258.855,91

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date	Registration Type	Capital Subscribed	Paid up capital	Underwritten result	Disbursed Result
10/04/1991	Capital Reduction	-351.592	-351.592	---	---
10/04/1991	Increase of Capital	3.867.513	3.867.513	3.867.513	3.867.513
10/04/1991	Capital Reduction	-3.094.010	-3.094.010	773.503	773.503
29/11/1991	Increase of Capital	2.404.053	601.013	3.177.555	1.374.515
16/01/1992	Capital call payment	---	1.803.041	3.177.555	3.177.555
16/01/1992	Capital Reduction	-2.903.130	-2.903.130	274.425	274.425
02/06/1993	Increase of Capital	14.443	14.443	288.869	288.869
05/10/1993	Increase of Capital	4.782.361	4.782.361	5.071.230	5.071.230
19/04/1994	Increase of Capital	187.626	187.626	5.258.856	5.258.856

Active Social Bodies

Post published	Social Body's Name	Appointment Date	Other Positions in this Company
SINGLE ADMINISTRATOR	ALBERTO FRAILE NICOLAU SL	17/10/2012	1
REPRESENTATIVE	MARTINEZ ANGUITA MIGUEL ANGEL	17/02/2015	1
	LAHERRAN PEREZ DE LA SOTA ENRIQUE	09/10/2000	2
ACCOUNTS' AUDITOR / HOLDER	DELOITTE SL	10/06/2014	10
LAWYER (ADVISER)	SALCEDO CARDENAS MARIA DOLORES	29/11/1991	3

Historical Social Bodies

Social Body's Name	Post published	End Date	Other Positions in this Company
ARTHUR ANDERSEN Y CIA S COM	ACCOUNTS' AUDITOR / HOLDER	05/12/2001	2
	ACCOUNTS' AUDITOR / HOLDER	23/05/2005
CARNE CASAS RAMON	MEMBER OF THE BOARD	24/10/2001	2
	MEMBER OF THE BOARD	18/08/2005
DEL VALLE PEREZ JOSE LUIS	MEMBER OF THE BOARD	24/10/2001	4
	MEMBER OF THE BOARD	28/09/2006
	MEMBER OF THE BOARD	28/09/2011
	SECRETARY	28/09/2011
DELOITTE S L	ACCOUNTS' AUDITOR / HOLDER	20/12/2006	3
	ACCOUNTS' AUDITOR / HOLDER	21/01/2008
	ACCOUNTS' AUDITOR / HOLDER	19/09/2008
DELOITTE SL	ACCOUNTS' AUDITOR / HOLDER	23/05/2005	10
	ACCOUNTS' AUDITOR / HOLDER	24/02/2011
	ACCOUNTS' AUDITOR / HOLDER	24/02/2011
	ACCOUNTS' AUDITOR / HOLDER	13/10/2011
	ACCOUNTS' AUDITOR / HOLDER	23/05/2005
	ACCOUNTS' AUDITOR / HOLDER	23/05/2005
	ACCOUNTS' AUDITOR / HOLDER	24/10/2005
	ACCOUNTS' AUDITOR / HOLDER	20/12/2006
	ACCOUNTS' AUDITOR / HOLDER	10/06/2014
FLAGOSER SA	MEMBER OF THE BOARD	27/12/1995	1
GARCIA-ARIAS VILLARREAL JESUS ANGEL	REPRESENTATIVE	17/02/2015	2
	REPRESENTATIVE	17/10/2012
HENI AUDITORES SA	ACCOUNTS' AUDITOR / HOLDER	12/04/1994	1
LLORENTE GOMEZ EUGENIO BARTOLOME	MEMBER OF THE BOARD	28/09/2011	2
	PRESIDENT	28/09/2011
LOPEZ JIMENEZ PEDRO	REPRESENTATIVE	27/12/1995	2
	MEMBER OF THE BOARD	28/09/2011
LOPEZ JIMENEZ PEDRO JOSE	MEMBER OF THE BOARD	18/08/2005	1
MANTENIMIENTOS AYUDA A LA EXPLOTACION Y SERVICIOS	SINGLE ADMINISTRATOR	17/10/2012	1
MARIN BARCENA ANTONIO	MEMBER OF THE BOARD	28/03/1990	1
MARTINEZ CONDE GUTIERREZ BARQUIN SANTOS	MEMBER OF THE BOARD	25/08/2003	2
	MEMBER OF THE BOARD	18/08/2005
NAVARRO CONDE LUIS FERNANDO	MEMBER OF THE BOARD	29/11/1991	5
PEREZ RODRIGUEZ FLORENTINO	MEMBER OF THE BOARD	27/12/1995	2
	PRESIDENT	27/12/1995
PEREZ RODRIGUEZ IGNACIO	PRESIDENT	24/07/2008	6
	PRESIDENT	18/05/2005
	CHIEF EXECUTIVE OFFICER	18/05/2005
	MEMBER OF THE BOARD	18/05/2005
	MEMBER OF THE BOARD	24/07/2008
	CHIEF EXECUTIVE OFFICER	24/07/2008
PEREZ RODRIGUEZ LUIS IGNACIO	PRESIDENT	29/11/1991	4
	SOLE CHIEF EXECUTIVE OFFICER	25/11/1998
	MEMBER OF THE BOARD	21/10/1993
	VICE CHAIRMAN	28/09/2011
ROA MARTINEZ JACOBO	SECRETARY	21/10/1993	3
	MEMBER OF THE BOARD	27/12/1995
	VICE CHAIRMAN	28/09/2011
SALCEDO CARDENAS MARIA DOLORES	MEMBER OF THE BOARD	29/11/1991	3
	NON CONSELLOR SECRETARY	27/12/1995
SANZ CARRO ANDRES	MEMBER OF THE BOARD	29/11/1991	6
	MEMBER OF THE BOARD	28/09/2011
TORRES PIÑON JUAN	MEMBER OF THE BOARD	21/10/1993	5
	PRESIDENT	21/10/1993
	VICE CHAIRMAN	27/12/1995
	PRESIDENT	30/06/1998
	MEMBER OF THE BOARD	30/06/1998
TRINCADO BOVILLE FERNANDO	MEMBER OF THE BOARD	20/02/1995	3
	MEMBER OF THE BOARD	29/11/1991
	CHIEF EXECUTIVE OFFICER	29/11/1991
VAZQUEZ RUIZ DEL ARBOL CARLOS	MEMBER OF THE BOARD	05/10/1993	3
	JOINT CHIEF EXECUTIVE OFFICER	05/10/1993
	VICE CHAIRMAN	05/10/1993
VEGA BALADRON DANIEL	SOLE CHIEF EXECUTIVE OFFICER	24/10/2001	5
	CHIEF EXECUTIVE OFFICER	25/08/2003
	MEMBER OF THE BOARD	28/09/2011
	CHIEF EXECUTIVE OFFICER	24/07/2008
	CHIEF EXECUTIVE OFFICER	28/09/2011
VEGA BALANDRON DANIEL	MEMBER OF THE BOARD	25/08/2003	3
	MEMBER OF THE BOARD	28/09/2011
	MEMBER OF THE BOARD	24/07/2008
VELASCO IBAÑEZ FRUTOS	MEMBER OF THE BOARD	05/10/1993	2
	JOINT CHIEF EXECUTIVE OFFICER	05/10/1993

Executive board

Post	NIF	Name
CHIEF BUYER		GUILLERMO AUSIN SAN NICOLAS
COMMERCIAL MANAGER		GUILLERMO AUSIN SAN NICOLAS
FINANCIAL DIRECTOR		ANDRES ALCAZAR FERNANDEZ
TECHNICAL MANAGER		VICTOR ORTEGA SMITH MOLINA

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	None	0
Status: Friendly		---
Status: Pre-Litigation		---
Status: Litigation		---
Status: Non-performing		---
Status: insolvency proceedings, bankruptcy and suspension of payments		---
Other status		---
Legal and Administrative Proceedings		4	---	02/03/2012	21/01/2015
Notices of defaults and enforcement		3	---		---
Seizures		---	---		---
Auctions		---	---		---
Declarations of insolvency and bad debt		---	---		---
Proceedings heard by the Civil Court		Unpublished	---
Proceedings heard by the Labour Court		3	---	19/06/2009	05/08/2010

Probability of default

> Estimated Probability of Default for the next 12 months:  3.200 %

> Latest Scoring Changes:

Sector in which comparison is carried out: 432 Electrical, plumbing and other construction installation activities
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 59.00% of the companies of the sector SOCIEDAD ESPAÑOLA DE MONTAJES INDUSTRIALES 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 3.200%.

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	4 Legal Claims for a total cost of 0,00 E
PROCEDURES BEFORE COURTS OF CIVIL MATTERS
	Procedures by the Civil Procedural Law 1/2000	No se han publicado
	Proceedings by the old Civil Procedural Law 1.881	No se han publicado
PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL
	Procedimientos ante Juzgados de lo Social	3 Legal Claims for a total cost of 0,00 E

Incidences Detailed

Incidences with the Local Administration

 PROCESSED BY THE LOCAL GOVERNMENT DE ALMERIA - Date 21/01/2015

Last Published Stage:	EXECUTION NOTIFICATION
Amount of the incidence:	0,00 E
Requested by:	ADMINISTRACION LOCAL
Published domicile:	(DESCONOCIDA)
Source:	B.O.P. ALMERIA Nº24, 2015 SUPLEMENTO 2 PAGINA 18

 PROCESSED BY THE LOCAL GOVERNMENT DE FERROL (LA CORUÑA) - Date 02/10/2014

Last Published Stage:	LIFT OF ATTACHMENT
Record Number:	2013EXP35002942
Amount of the incidence:	0,00 E
Requested by:	ADMINISTRACION LOCAL
Published domicile:	(DESCONOCIDA)
Source:	B.O.P. A CORUÑA Nº200, 2014 PAGINA 7

 PROCESSED BY THE LOCAL GOVERNMENT DE GRANADA - Date 17/09/2014

Last Published Stage:	EXECUTION NOTIFICATION
Amount of the incidence:	0,00 E
Requested by:	ADMINISTRACION LOCAL
Published domicile:	(DESCONOCIDA)
Source:	B.O.P. GRANADA Nº190, 2014 PAGINA 2

 PROCESSED BY THE LOCAL GOVERNMENT DE MADRID - Date 02/03/2012

Last Published Stage:	EXECUTION NOTIFICATION
Record Number:	12058008063
Amount of the incidence:	0,00 E
Requested by:	ADMINISTRACION LOCAL
Published domicile:	(DESCONOCIDA)
Source:	BOLETIN OFICIAL DEL AYUNTAMIENTO DE MADRID Nº6638, 2012 PAGINA 41

Link List

PARTICIPATES IN:	77 Entities
SHAREHOLDERS:	2 Entities
BELONGS TO THE ADMINISTRATION BOARD OF:	1 Entities
HAS IN ITS ADMINISTRATION BOARD TO:	1 Entities
IS RELATED WITH:	6 Entities

> Shareholders

Relationship	Entity	Province	Shareholding stake
SHAREHOLDERS	ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA.	MADRID
	ACS SERVICIOS COMUNICACIONES Y ENERGIA SL	MADRID	99.99
PARTICIPATES IN	CONSTRUCCIONES DORSA SA	MADRID	99.9
	UNION TEMPORAL DE EMPRESAS PADRON		50
	UNION TEMPORAL DE EMPRESAS SEMELCO		33.33
	UNION TEMPORAL DE EMPRESAS SEMI INABENSA		50
	MAESSA TELECOMUNICACIONES INGENIERIA INSTALACIONES Y SERVICIOS S A	ZARAGOZA	0.56
	UNION TEMPORAL DE EMPRESAS IBERCAT		32
	UNION TEMPORAL DE EMPRESAS COSEMEL		33.33
	UNION TEMPORAL DE EMPRESAS VENTA DE BAÑOS		50
	UNION TEMPORAL DE EMPRESAS ELECNOR SEMI		50
	UNION TEMPORAL DE EMPRESAS EUROSUB 2 AVE		28
	UNION TEMPORAL DE EMPRESAS RIPOLL MANLLEU		25
	UNION TEMPORAL DE EMPRESAS CORREDOR		33.33
	SEDMIVE CA (VENEZUELA)		100
	TESCA INGENIERIA DEL ECUADOR		2.15
	UNION TEMPORAL DE EMPRESAS CAVAL		33.33
	UNION TEMPORAL DE EMPRESAS ELECTRIFICACION LINEA 3		50
	MEXSEMI, SOCIEDAD ANONIMA, DE CV		100
	SEMI MAROC, S.A.		99.6
	UNION TEMPORAL DE EMPRESAS SANT ADRIA		50
	UNION TEMPORAL DE EMPRESAS COSEBAL		42.5
	UNION TEMPORAL DE EMPRESAS CASTILLEJO AÑOVER		50
	UNION TEMPORAL DE EMPRESAS AVENOR		50
	SEMI FRANCE SAS		100
	SEMI ITALIA		100
	UNION TEMPORAL DE EMPRESAS ATOCHA FASE I		50
	UNION TEMPORAL DE EMPRESAS BARRIO DE LA FORTUNA		50
	UNION TEMPORAL DE EMPRESAS C. COLONIA JARDIN		85
	UNION TEMPORAL DE EMPRESAS C. LINEA 6		25
	UNION TEMPORAL DE EMPRESAS C. LINEA 7		33.33
	UNION TEMPORAL DE EMPRESAS C. PINAR DE CHAMARTIN		85
	UNION TEMPORAL DE EMPRESAS DISTRIB LINEA 3		40
	UNION TEMPORAL DE EMPRESAS L9 CAN ZAM		50
	UNION TEMPORAL DE EMPRESAS SEMEL COSUB		33.33
	UNION TEMPORAL DE EMPRESAS SEMEL COSUR		33
	UNION TEMPORAL DE EMPRESAS SUBESTACION NEVADA		39
	UNION TEMPORAL DE EMPRESAS VILLAVERDE ALTO		50
	UNION TEMPORAL DE EMPRESAS DISTRIBUCION LINEA 2		50
	SEMI DEUTSCHLAND		99.6
	SEMI BULGARIA		100
	SEMI GERMANY		100
	MANTENIMIENTO AYUDA A LA EXPLOTACION Y SERVICIOS, S.A.		0.07
	ENERGIA OLMEDO-OURENSE FASE I SA	MADRID	25
	UNION TEMPORAL DE EMPRESAS LECAT		42.5
	UNION TEMPORAL DE EMPRESAS CYSE L9		35.44
	UNION TEMPORAL DE EMPRESAS SEMONA		70
	UNION TEMPORAL DE EMPRESAS SEMONA II		70
	UNION TEMPORAL DE EMPRESAS SSEE GINEBRA		30.73
	UNION TEMPORAL DE EMPRESAS SUBESTACIONES LINEA 2		50
	SEMI CHILE SPA		100
	ALFANI SL	VALENCIA	99
	ANTARINAS, S.A.		100
	UNION TEMPORAL DE EMPRESAS AVESUR		26
	UNION TEMPORAL DE EMPRESAS COBALSE		40
	UNION TEMPORAL DE EMPRESAS COSECAT		50
	UNION TEMPORAL DE EMPRESAS ENLACE VALENCIA		20
	UNION TEMPORAL DE EMPRESAS EUROASCE I		18.33
	UNION TEMPORAL DE EMPRESAS EUROASCE II		18.33
	UNION TEMPORAL DE EMPRESAS EUROASCE III		18.33
	UNION TEMPORAL DE EMPRESAS EUROCAT AV		28
	UNION TEMPORAL DE EMPRESAS MINGORRIA		25
	UNION TEMPORAL DE EMPRESAS SISECAT		36.5
	SEMI POLSKA		100
	SEDMIRUMA		100
	SEMICOSTA		100
	SEMI SERVICIOS DE ENERGIA INDUSTRIAL Y COMERCIO, S.L.		100
	SEMI USA CORPORACION		100
	SEMONA, SOCIEDAD LIMITADA, (SANTO DOMINGO)		70
	UNION TEMPORAL DE EMPRESAS AVESUR		26
	UNION TEMPORAL DE EMPRESAS COBALSE		40
	UNION TEMPORAL DE EMPRESAS COSECAT		50
	UNION TEMPORAL DE EMPRESAS ENLACE VALENCIA		20
	UNION TEMPORAL DE EMPRESAS EUROASCE I		18.33
	UNION TEMPORAL DE EMPRESAS EUROASCE II		18.33
	UNION TEMPORAL DE EMPRESAS EUROASCE III		18.33
	UNION TEMPORAL DE EMPRESAS EUROCAT AV		28
	UNION TEMPORAL DE EMPRESAS MINGORRIA		25
	UNION TEMPORAL DE EMPRESAS SISECAT		36.5

> Other relationships

Relationship	Entity	Province
IS RELATED WITH	| |
	GESTION Y PROTECCION AMBIENTAL SL	BURGOS
	MANCHASOL-1 CENTRAL TERMOSOLAR UNO SL	MADRID
	CONSORCIO SEMONA
IS RELATED WITH	ACS SERVICIOS COMUNICACIONES Y ENERGIA SL	MADRID
	COBRA INSTALACIONES Y SERVICIOS INTERNACIONAL SL	MADRID
	URBAENERGIA SL	MADRID
HAS IN ITS ADMINISTRATION BOARD TO	ALBERTO FRAILE NICOLAU SL	MADRID
BELONGS TO THE ADMINISTRATION BOARD OF	ALBERTO FRAILE NICOLAU SL	MADRID

Turnover

Total Sales 2014

165.000.000

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio	Tipo de Cuentas Anuales	Fecha Presentacion
2013	Normales	December  2014
2012	Normales	September  2013
2011	Normales	August  2012
2010	Normales	November  2011
2009	Normales	February  2011
2008	Normales	October  2009
2007	Normales	September  2008
2006	Normales	September  2007
2005	Normales	October  2006
2004	Normales	August  2005
2003	Normales	May  2005
2002	Normales	November  2003
2001	Normales	October  2002
2000	Normales	May  2002
1999	Normales	May  2001
1998	Normales	November  1999
1997	Normales	August  1998
1996	Normales	January  1998
1995	Normales	October  1996
1994	Normales	October  1995
1993	Normales	February  1995
1992	Normales	September  1993
1991	Normales	September  1992
1991	Normales	September  1992
1990	Normales	November  1991
1989	Normales	August  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. Where the provisions of the Act did not establish relevant equivalence criteria.

	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL
Assets	2013	2012	2011	2010	2009
A) NON-CURRENT ASSETS: 11000	10.548.000,00	11.186.000,00	11.997.000,00	9.473.000,00	10.643.000,00
I. Intangible fixed assets : 11100	26.000,00	40.000,00	55.000,00	83.000,00	159.000,00
1. Development: 11110	0,00	0,00	0,00	0,00	0,00
2. Concessions: 11120	0,00	0,00	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	26.000,00	40.000,00	55.000,00	83.000,00	159.000,00
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	4.823.000,00	5.213.000,00	5.549.000,00	5.784.000,00	7.521.000,00
1. Land and buildings: 11210	987.000,00	1.015.000,00	1.042.000,00	1.070.000,00	1.077.000,00
2. Technical installations and other tangible fixed assets: 11220	3.836.000,00	4.198.000,00	4.507.000,00	4.714.000,00	6.444.000,00
3. Tangible asset in progress and advances: 11230	0,00	0,00	0,00	0,00	0,00
III. Real estate investment: 11300	0,00	0,00	0,00	0,00	0,00
1. Land: 11310	0,00	0,00	0,00	0,00	0,00
2. Buildings: 11320	0,00	0,00	0,00	0,00	0,00
IV. Long-term investments in Group companies and associates : 11400	4.148.000,00	4.828.000,00	5.626.000,00	896.000,00	727.000,00
1. Equity instruments: 11410	4.148.000,00	1.950.000,00	1.795.000,00	896.000,00	727.000,00
2. Credits to businesses: 11420	0,00	2.878.000,00	3.831.000,00	0,00	0,00
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	761.000,00	835.000,00	767.000,00	708.000,00	718.000,00
1. Equity instruments: 11510	0,00	0,00	0,00	0,00	0,00
2. Credits to third parties : 11520	0,00	0,00	0,00	0,00	0,00
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	761.000,00	835.000,00	767.000,00	708.000,00	718.000,00
6. Other investments: 11560	0,00	0,00	0,00	0,00	0,00
VI. Assets for deferred tax : 11600	790.000,00	270.000,00	0,00	2.002.000,00	1.518.000,00
VII. Non-current trade debts : 11700	0,00	0,00	0,00	0,00	0,00
B) CURRENT ASSETS: 12000	146.820.000,00	169.137.000,00	184.812.000,00	228.764.000,00	162.768.000,00
I. Non-current assets held for sale : 12100	0,00	0,00	0,00	0,00	0,00
II. Stocks: 12200	1.585.000,00	1.136.000,00	427.000,00	24.258.000,00	377.000,00
1. Commercial: 12210	0,00	0,00	0,00	24.258.000,00	0,00
2. Primary material and other supplies: 12220	0,00	0,00	0,00	0,00	377.000,00
3. Work in progress: 12230	0,00	0,00	0,00	0,00	0,00
a) Of long-term production cycle : 12231	0,00	0,00	0,00	0,00	0,00
b) Of short-term production cycle : 12232	0,00	0,00	0,00	0,00	0,00
4. Finished goods: 12240	0,00	0,00	0,00	0,00	0,00
a) Of long-term production cycle : 12241	0,00	0,00	0,00	0,00	0,00
b) Of short-term production cycle : 12242	0,00	0,00	0,00	0,00	0,00
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	427.000,00	0,00	0,00
III. Trade debtors and others receivable accounts: 12300	102.413.000,00	124.573.000,00	144.769.000,00	142.353.000,00	116.309.000,00
1. Trade debtors / accounts receivable: 12310	98.388.000,00	118.243.000,00	134.541.000,00	137.547.000,00	109.175.000,00
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	0,00	0,00	134.541.000,00	137.547.000,00	0,00
2. Customers, Group companies and associates : 12320	1.835.000,00	5.312.000,00	7.374.000,00	3.845.000,00	5.625.000,00
3. Other accounts receivable: 12330	55.000,00	25.000,00	1.261.000,00	194.000,00	420.000,00
4. Personnel: 12340	193.000,00	80.000,00	29.000,00	53.000,00	79.000,00
5. Assets for deferred tax: 12350	0,00	0,00	0,00	0,00	0,00
6. Other debtors, including tax and social security: 12360	1.942.000,00	913.000,00	1.564.000,00	714.000,00	1.010.000,00
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	17.547.000,00	16.625.000,00	13.356.000,00	12.191.000,00	7.225.000,00
1. Equity instruments: 12410	0,00	0,00	0,00	0,00	0,00
2. Credits to businesses: 12420	17.547.000,00	16.625.000,00	13.356.000,00	12.191.000,00	7.225.000,00
3. Debt securities: 12430	0,00	0,00	0,00	0,00	0,00
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	4.342.000,00	15.000,00	0,00	9.607.000,00	6.689.000,00
1. Equity instruments: 12510	0,00	0,00	0,00	0,00	0,00
2. Credits to businesses: 12520	4.154.000,00	0,00	0,00	4.607.000,00	0,00
3. Debt securities: 12530	0,00	0,00	0,00	5.000.000,00	0,00
4. Derivatives : 12540	0,00	0,00	0,00	0,00	0,00
5. Other financial assets : 12550	188.000,00	15.000,00	0,00	0,00	6.689.000,00
6. Other investments: 12560	0,00	0,00	0,00	0,00	0,00
VI. Short-term accruals: 12600	219.000,00	55.000,00	48.000,00	47.000,00	0,00
VII. Cash and other equivalent liquid assets : 12700	20.714.000,00	26.733.000,00	26.212.000,00	40.308.000,00	32.168.000,00
1. Treasury: 12710	20.214.000,00	22.477.000,00	25.931.000,00	15.404.000,00	7.944.000,00
2. Other equivalent liquid assets: 12720	500.000,00	4.256.000,00	281.000,00	24.904.000,00	24.224.000,00
TOTAL ASSETS (A + B) : 10000	157.368.000,00	180.323.000,00	196.809.000,00	238.237.000,00	173.411.000,00

	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL
Liabilities and Net Worth	2013	2012	2011	2010	2009
A) NET WORTH: 20000	32.385.000,00	32.177.000,00	32.036.000,00	30.783.000,00	29.901.000,00
A-1) Shareholders' equity: 21000	32.385.000,00	32.177.000,00	32.036.000,00	30.783.000,00	29.901.000,00
I. Capital: 21100	5.250.000,00	5.250.000,00	5.250.000,00	5.250.000,00	5.250.000,00
1. Registered capital : 21110	5.250.000,00	5.250.000,00	5.250.000,00	5.250.000,00	5.250.000,00
2. (Uncalled capital): 21120	0,00	0,00	0,00	0,00	0,00
II. Share premium: 21200	0,00	0,00	0,00	0,00	0,00
III. Reserves: 21300	24.740.000,00	22.061.000,00	21.070.000,00	21.063.000,00	19.407.000,00
1. Legal y estatutarias: 21310	1.052.000,00	1.052.000,00	1.052.000,00	1.052.000,00	1.052.000,00
2. Other reserves: 21320	23.688.000,00	21.009.000,00	20.018.000,00	20.011.000,00	18.355.000,00
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	0,00	0,00	0,00	0,00	0,00
1. Brought forward: 21510	0,00	0,00	0,00	0,00	0,00
2. (Negative results from previous periods): 21520	0,00	0,00	0,00	0,00	0,00
VI. Other shareholders' contributions: 21600	0,00	0,00	0,00	0,00	0,00
VII. Result of the period: 21700	3.623.000,00	6.616.000,00	10.179.000,00	8.757.000,00	8.919.000,00
VIII. (Interim dividend): 21800	-1.228.000,00	-1.750.000,00	-4.463.000,00	-4.287.000,00	-3.675.000,00
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	0,00	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	0,00	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	0,00	0,00	0,00	0,00
B) NON-CURRENT LIABILITIES: 31000	5.856.000,00	7.139.000,00	8.437.000,00	8.635.000,00	6.447.000,00
I. Long-term provisions: 31100	3.893.000,00	5.334.000,00	5.985.000,00	7.063.000,00	5.104.000,00
1. Long-term employee benefits liability: 31110	91.000,00	91.000,00	91.000,00	41.000,00	41.000,00
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	3.802.000,00	5.243.000,00	5.894.000,00	7.022.000,00	5.063.000,00
II Long-term creditors: 31200	1.541.000,00	1.334.000,00	2.008.000,00	1.572.000,00	1.343.000,00
1. Liabilities and other securities: 31210	0,00	0,00	0,00	0,00	0,00
2. Amounts owed to credit institutions: 31220	0,00	0,00	0,00	0,00	0,00
3. Creditors from financial leasing: 31230	916.000,00	645.000,00	1.168.000,00	591.000,00	600.000,00
4. Derivatives : 31240	0,00	0,00	0,00	0,00	0,00
5. Other financial liabilities : 31250	625.000,00	689.000,00	840.000,00	981.000,00	743.000,00
III. Long-term debts with Group companies and associates: 31300	0,00	0,00	0,00	0,00	0,00
IV. Liabilities for deferred tax: 31400	422.000,00	471.000,00	444.000,00	0,00	0,00
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	119.127.000,00	141.007.000,00	156.336.000,00	198.819.000,00	137.063.000,00
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	93.000,00	72.000,00	165.000,00	1.744.000,00	1.699.000,00
1. Provisions from greenhouse gas emission allowance: 32210	0,00	0,00	0,00	0,00	0,00
2. Other provisions: 32220	0,00	0,00	0,00	0,00	0,00
III. Short-term creditors : 32300	20.325.000,00	21.116.000,00	16.302.000,00	26.073.000,00	27.674.000,00
1. Liabilities and other securities: 32310	0,00	0,00	0,00	0,00	9.162.000,00
2. Amounts owed to credit institutions: 32320	18.452.000,00	18.714.000,00	11.577.000,00	20.924.000,00	0,00
3. Creditors from financial leasing: 32330	410.000,00	565.000,00	724.000,00	375.000,00	367.000,00
4. Derivatives : 32340	0,00	0,00	0,00	0,00	0,00
5. Other financial liabilities : 32350	1.463.000,00	1.837.000,00	4.001.000,00	4.774.000,00	18.145.000,00
IV. Short-term debts with Group companies and associates: 32400	3.411.000,00	2.913.000,00	81.000,00	2.222.000,00	1.579.000,00
V. Trade creditors and other accounts payable: 32500	95.298.000,00	116.906.000,00	139.788.000,00	168.780.000,00	106.111.000,00
1. Suppliers: 32510	71.926.000,00	84.893.000,00	86.409.000,00	87.201.000,00	42.524.000,00
a) Long-term debts : 32511	0,00	0,00	0,00	0,00	0,00
b) Short-term debts : 32512	0,00	0,00	86.409.000,00	87.201.000,00	0,00
2. Suppliers, Group companies and associates: 32520	3.937.000,00	2.934.000,00	1.700.000,00	933.000,00	361.000,00
3. Other creditors: 32530	410.000,00	516.000,00	741.000,00	1.627.000,00	1.097.000,00
4. Personnel (remuneration due): 32540	3.467.000,00	3.801.000,00	5.763.000,00	6.846.000,00	4.960.000,00
5. Liabilities for current tax: 32550	0,00	0,00	0,00	0,00	0,00
6. Other accounts payable to Public Administrations.: 32560	3.886.000,00	5.165.000,00	6.686.000,00	4.434.000,00	4.429.000,00
7. Advances from clients: 32570	11.672.000,00	19.597.000,00	38.489.000,00	67.739.000,00	52.740.000,00
VI. Short-term accruals: 32600	0,00	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	157.368.000,00	180.323.000,00	196.809.000,00	238.237.000,00	173.411.000,00

	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL	ORIGINAL
Profit and Loss	2013	2012	2011	2010	2009
1. Net turnover: 40100	169.359.000,00	227.920.000,00	285.371.000,00	232.397.000,00	227.722.000,00
a) Sales: 40110	169.359.000,00	227.920.000,00	285.371.000,00	232.397.000,00	227.722.000,00
b) Rendering of services: 40120	0,00	0,00	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	0,00	0,00	0,00	0,00	0,00
3. Works carried out by the company for its assets: 40300	29.000,00	23.000,00	0,00	0,00	42.000,00
4. Supplies : 40400	-73.308.000,00	-112.798.000,00	-159.475.000,00	-120.881.000,00	-99.850.000,00
a) Stock consumption: 40410	0,00	0,00	0,00	0,00	0,00
b) Consumption of raw materials and miscellaneous consumable ones: 40420	-41.620.000,00	-72.142.000,00	-102.898.000,00	-71.241.000,00	-35.388.000,00
c) Works carried out by other companies: 40430	-31.688.000,00	-40.656.000,00	-56.577.000,00	-49.640.000,00	-64.462.000,00
d) Impairment of stock, primary material and other supplies: 40440	0,00	0,00	0,00	0,00	0,00
5. Other operating income: 40500	797.000,00	127.000,00	1.014.000,00	301.000,00	10.000,00
a) Auxiliary income and other from current management: 40510	796.000,00	135.000,00	1.018.000,00	245.000,00	3.000,00
b) Operation subsidies included in the Period's result: 40520	1.000,00	-8.000,00	-4.000,00	56.000,00	7.000,00
6. Personnel costs: 40600	-64.777.000,00	-73.744.000,00	-85.528.000,00	-74.259.000,00	-77.689.000,00
a) Wages, salaries et al.: 40610	-51.693.000,00	-59.198.000,00	-69.270.000,00	-59.293.000,00	-63.029.000,00
b) Social security costs: 40620	-13.084.000,00	-14.546.000,00	-16.258.000,00	-14.966.000,00	-14.660.000,00
c) Provisions : 40630	0,00	0,00	0,00	0,00	0,00
7. Other operating costs: 40700	-24.322.000,00	-28.584.000,00	-26.527.000,00	-20.530.000,00	-27.316.000,00
a) External services: 40710	-23.081.000,00	-27.438.000,00	-25.879.000,00	-20.204.000,00	-25.507.000,00
b) Taxes: 40720	-878.000,00	-894.000,00	-412.000,00	-382.000,00	-214.000,00
c) Losses, impairments and variation in provisions from trade operations : 40730	-363.000,00	-252.000,00	-236.000,00	56.000,00	-1.595.000,00
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	-1.680.000,00	-1.989.000,00	-2.352.000,00	-2.742.000,00	-3.219.000,00
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	50.000,00
11. Impairment and result of transfers of fixed assets: 41100	-92.000,00	8.000,00	0,00	0,00	0,00
a) Impairment and losses : 41110	0,00	0,00	0,00	0,00	0,00
b) Results for transfers and other : 41120	0,00	0,00	0,00	0,00	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	-1.829.000,00	-404.000,00	-16.000,00	-5.000,00	-185.000,00
A.1) OPERATING INCOME (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) : 49100	4.177.000,00	10.559.000,00	12.487.000,00	14.281.000,00	19.565.000,00
14. Financial income : 41400	3.057.000,00	2.213.000,00	3.168.000,00	534.000,00	148.000,00
a) Of shares in equity instruments : 41410	1.641.000,00	1.368.000,00	2.130.000,00	5.000,00	2.000,00
a 1) In Group companies and associates: 41411	1.641.000,00	1.368.000,00	2.130.000,00	5.000,00	2.000,00
a 2) In third parties: 41412	0,00	0,00	0,00	0,00	0,00
b) From negotiable securities and other financial instruments : 41420	1.416.000,00	845.000,00	1.038.000,00	529.000,00	146.000,00
b 1) From Group companies and associates : 41421	912.000,00	452.000,00	49.000,00	0,00	0,00
b 2) From third parties : 41422	504.000,00	393.000,00	989.000,00	529.000,00	146.000,00
c) Allocation of financial subsidies, donations and legacies : 41430	0,00	0,00	0,00	0,00	0,00
15. Financial expenditure: 41500	-2.626.000,00	-2.561.000,00	-1.861.000,00	-526.000,00	-1.119.000,00
a) Amounts owed to Group companies and associates : 41510	0,00	0,00	0,00	0,00	0,00
b) For debts with third parties : 41520	-2.626.000,00	-2.561.000,00	-1.861.000,00	-526.000,00	-1.119.000,00
c) Stock renewal : 41530	0,00	0,00	0,00	0,00	0,00
16. Changes in fair value of financial instruments : 41600	0,00	0,00	0,00	0,00	0,00
a) Trading book and other : 41610	0,00	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	-369.000,00	-1.009.000,00	488.000,00	-2.000,00	351.000,00
18. Impairment and result for transfers of financial instruments: 41800	-62.000,00	99.000,00	-515.000,00	-1.685.000,00	-6.246.000,00
a) Impairment and losses : 41810	-62.000,00	99.000,00	-515.000,00	-1.685.000,00	-6.246.000,00
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	0,00	-1.258.000,00	1.280.000,00	-1.679.000,00	-6.866.000,00
A.3) NET RESULT BEFORE TAXES (A.1+A.2) : 49300	4.177.000,00	9.301.000,00	13.767.000,00	12.602.000,00	12.699.000,00
20. Income taxes: 41900	-554.000,00	-2.685.000,00	-3.588.000,00	-3.845.000,00	-3.780.000,00
A.4) PROFIT AFTER TAXES (A.3+20) : 49400	3.623.000,00	6.616.000,00	10.179.000,00	8.757.000,00	8.919.000,00
21. Result of the year coming from interrupted operations : 42000	0,00	0,00	0,00	0,00	0,00
A.5) RESULT OF THE PERIOD (A.4+21) : 49500	3.623.000,00	6.616.000,00	10.179.000,00	8.757.000,00	8.919.000,00

> 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.

	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:	9.758.000,00	10.916.000,00	11.997.000,00	7.471.000,00	9.125.000,00
I. Formation expenses:	0,00	0,00	0,00	0,00	0,00
II. Intangible fixed assets:	26.000,00	40.000,00	55.000,00	83.000,00	159.000,00
1. Research and development costs:	0,00	0,00	0,00	0,00	0,00
2. Concessions, patents, licences, trademarks et al.:	0,00	0,00	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:	26.000,00	40.000,00	55.000,00	83.000,00	0,00
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:	4.823.000,00	5.213.000,00	5.549.000,00	5.784.000,00	7.521.000,00
1. Land and construction:	987.000,00	1.015.000,00	1.042.000,00	1.070.000,00	0,00
2. Technical installations and machinery:	3.836.000,00	4.198.000,00	4.507.000,00	4.714.000,00	0,00
3. Other installations, tools and furniture:	0,00	0,00	0,00	0,00	0,00
4. Payments on account and tangible fixed assets under construction:	0,00	0,00	0,00	0,00	0,00
5. Other tangible assets:	0,00	0,00	0,00	0,00	0,00
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:	4.909.000,00	5.663.000,00	6.393.000,00	1.604.000,00	1.445.000,00
1. Equity investments in group companies:	4.148.000,00	1.950.000,00	1.795.000,00	896.000,00	792.813,00
2. Receivables from group companies:	0,00	2.878.000,00	3.831.000,00	0,00	0,00
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	0,00	0,00	17.114,00
6. Other receivables:	0,00	0,00	0,00	0,00	0,00
7. Long term guarantees and deposits:	761.000,00	835.000,00	767.000,00	708.000,00	752.612,00
8. Provisions:	0,00	0,00	0,00	0,00	-117.539,00
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:	147.610.000,00	169.407.000,00	184.812.000,00	230.766.000,00	164.286.000,00
I. Called-up share capital (not paid):	0,00	0,00	0,00	0,00	0,00
II. Stocks:	1.585.000,00	1.136.000,00	427.000,00	24.258.000,00	377.000,00
1. Goods for resale:	1.585.000,00	1.136.000,00	0,00	24.258.000,00	0,00
2. Raw materials and other consumables:	0,00	0,00	0,00	0,00	376.859,00
3. Goods in process and semifinished ones:	0,00	0,00	0,00	0,00	0,00
4. Finished products:	0,00	0,00	0,00	0,00	0,00
5. Byproducts, scrap and recovered materials:	0,00	0,00	0,00	0,00	0,00
6. Payments on account:	0,00	0,00	427.000,00	0,00	141,00
7. Provisions:	0,00	0,00	0,00	0,00	0,00
III. Debtors:	103.203.000,00	124.843.000,00	144.769.000,00	144.355.000,00	117.827.000,00
1. Trade debtors / accounts receivable:	98.388.000,00	118.243.000,00	134.541.000,00	137.547.000,00	98.477.801,00
2. Accounts receivable, Group companies:	1.835.000,00	5.312.000,00	7.374.000,00	3.845.000,00	16.166.653,00
3. Accounts receivable, associated companies:	0,00	0,00	0,00	0,00	0,00
4. Other debtors:	55.000,00	25.000,00	1.261.000,00	194.000,00	2.105.537,00
5. Staff:	193.000,00	80.000,00	29.000,00	53.000,00	55.090,00
6. Public bodies:	2.732.000,00	1.183.000,00	1.564.000,00	2.716.000,00	2.322.464,00
7. Provisions:	0,00	0,00	0,00	0,00	-1.300.545,00
IV. Short-term investments:	22.389.000,00	20.896.000,00	13.637.000,00	46.702.000,00	13.914.000,00
1. Equity investments in group companies:	0,00	0,00	0,00	0,00	0,00
2. Receivables from group companies:	17.547.000,00	16.625.000,00	13.356.000,00	12.191.000,00	0,00
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:	500.000,00	4.256.000,00	281.000,00	29.904.000,00	0,00
6. Other receivables:	4.154.000,00	0,00	0,00	4.607.000,00	13.914.000,00
7. Shor term guarantees and deposits:	188.000,00	15.000,00	0,00	0,00	0,00
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:	20.214.000,00	22.477.000,00	25.931.000,00	15.404.000,00	32.168.000,00
VII. Prepayments and accrued income:	219.000,00	55.000,00	48.000,00	47.000,00	0,00
GENERAL TOTAL (A + B + C + D):	157.368.000,00	180.323.000,00	196.809.000,00	238.237.000,00	173.411.000,00

MERCANTILE REGISTRY.

	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
LIABILITIES	2013	2012	2011	2010	2009
A) EQUITY:	32.385.000,00	32.177.000,00	32.036.000,00	30.783.000,00	29.901.000,00
I. Subscribed capital:	5.250.000,00	5.250.000,00	5.250.000,00	5.250.000,00	5.250.000,00
II. Share premium:	0,00	0,00	0,00	0,00	0,00
III. Revaluation reserves:	0,00	0,00	0,00	0,00	0,00
IV. Reserves:	24.740.000,00	22.061.000,00	21.070.000,00	21.063.000,00	19.407.000,00
1. Legal reserve:	1.052.000,00	1.052.000,00	1.052.000,00	1.052.000,00	1.006.738,00
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:	23.688.000,00	21.009.000,00	20.018.000,00	20.011.000,00	18.400.262,00
Differences due to capital adjustement to euros:	0,00	0,00	0,00	0,00	0,00
V. Profit or loss brought forward:	0,00	0,00	0,00	0,00	0,00
1. Retained earnings:	0,00	0,00	0,00	0,00	0,00
2. Prior year losses:	0,00	0,00	0,00	0,00	0,00
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:	3.623.000,00	6.616.000,00	10.179.000,00	8.757.000,00	8.919.000,00
VII. Interim dividend paid:	-1.228.000,00	-1.750.000,00	-4.463.000,00	-4.287.000,00	-3.675.000,00
VIII. Own shares for capital reduction:	0,00	0,00	0,00	0,00	0,00
B) Deferred income:	0,00	0,00	0,00	0,00	0,00
1. Capital grants:	0,00	0,00	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:	3.893.000,00	5.334.000,00	5.985.000,00	7.063.000,00	5.104.000,00
1. Provisions for pension fund and other similar obligations:	91.000,00	91.000,00	91.000,00	41.000,00	0,00
2. Provisions for taxes:	0,00	0,00	0,00	0,00	0,00
3. Other provisions:	3.802.000,00	5.243.000,00	5.894.000,00	7.022.000,00	5.104.000,00
4. Reversion fund:	0,00	0,00	0,00	0,00	0,00
D) LONG TERM LIABILITIES:	1.963.000,00	1.805.000,00	2.452.000,00	1.572.000,00	1.343.000,00
I. Issued debentures and other marketable securities:	0,00	0,00	0,00	0,00	743.000,00
1. Non-convertible debentures:	0,00	0,00	0,00	0,00	743.000,00
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:	916.000,00	645.000,00	1.168.000,00	591.000,00	600.000,00
1. Loans and other liabilities:	0,00	0,00	0,00	0,00	0,00
2. Long-term liabilities from capital leases:	916.000,00	645.000,00	1.168.000,00	591.000,00	600.000,00
III. Debts with companies of the group and affiliated ones:	0,00	0,00	0,00	0,00	0,00
1. Amounts owed to group companies:	0,00	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:	1.047.000,00	1.160.000,00	1.284.000,00	981.000,00	0,00
1. Long-term bills of exchange payable:	0,00	0,00	0,00	0,00	0,00
2. Other creditors:	625.000,00	689.000,00	840.000,00	981.000,00	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:	422.000,00	471.000,00	444.000,00	0,00	0,00
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:	119.127.000,00	141.007.000,00	156.336.000,00	198.819.000,00	137.063.000,00
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:	18.862.000,00	19.279.000,00	12.301.000,00	21.299.000,00	9.529.000,00
1. Loans and other liabilities:	18.452.000,00	18.714.000,00	11.577.000,00	20.924.000,00	9.162.000,00
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:	410.000,00	565.000,00	724.000,00	375.000,00	367.000,00
III. Short-term amounts owed to group and associated companies:	7.348.000,00	5.847.000,00	1.781.000,00	3.155.000,00	2.288.769,00
1. Amounts owed to group companies:	7.348.000,00	5.847.000,00	1.781.000,00	3.155.000,00	2.288.769,00
2. Amounts owed to associated companies:	0,00	0,00	0,00	0,00	0,00
IV. Trade creditors:	84.008.000,00	105.006.000,00	125.639.000,00	156.567.000,00	105.401.231,00
1. Advanced payments from customers:	11.672.000,00	19.597.000,00	38.489.000,00	67.739.000,00	0,00
2. Amounts owed for purchases of goods or services:	72.336.000,00	85.409.000,00	87.150.000,00	88.828.000,00	41.814.231,00
3. Debts represented by notes payable:	0,00	0,00	0,00	0,00	63.587.000,00
V. Other creditors:	8.816.000,00	10.803.000,00	16.450.000,00	16.054.000,00	18.145.000,00
1. Public bodies:	3.886.000,00	5.165.000,00	6.686.000,00	4.434.000,00	0,00
2. Bills of exchange payable:	0,00	0,00	0,00	0,00	0,00
3. Miscellaneous debts:	1.463.000,00	1.837.000,00	4.001.000,00	4.774.000,00	18.145.000,00
4. Wages and salaries payable:	3.467.000,00	3.801.000,00	5.763.000,00	6.846.000,00	0,00
5. Guarantees and deposits received at short term:	0,00	0,00	0,00	0,00	0,00
VI. Provisions:	93.000,00	72.000,00	165.000,00	1.744.000,00	1.699.000,00
VII. Prepayments and accrued income:	0,00	0,00	0,00	0,00	0,00
F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:	0,00	0,00	0,00	0,00	0,00
GENERAL TOTAL (A + B + C + D + E + F):	157.368.000,00	180.323.000,00	196.809.000,00	238.237.000,00	173.411.000,00

MERCANTILE REGISTRY.

	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
DEBIT	2013	2012	2011	2010	2009
A) CHARGES (A.1 to A.15):	169.619.000,00	223.675.000,00	279.862.000,00	224.475.000,00	219.404.000,00
A.1. Stock reduction of both manufactured goods and the ones in process:	0,00	0,00	0,00	0,00	0,00
A.2. Supplies:	73.308.000,00	112.798.000,00	159.475.000,00	120.881.000,00	99.850.000,00
a) Stock consumption:	0,00	0,00	0,00	0,00	1.931.278,00
b) Consumption of raw materials and miscellaneous consumable ones:	41.620.000,00	72.142.000,00	102.898.000,00	71.241.000,00	34.858.850,00
c) Miscellaneous external expenditure:	31.688.000,00	40.656.000,00	56.577.000,00	49.640.000,00	63.059.873,00
A.3. Staff costs:	64.777.000,00	73.744.000,00	85.528.000,00	74.259.000,00	77.689.000,00
a) Wages, salaries et al.:	51.693.000,00	59.198.000,00	69.270.000,00	59.293.000,00	63.396.290,00
b) Social security costs:	13.084.000,00	14.546.000,00	16.258.000,00	14.966.000,00	14.292.710,00
A.4. Depreciation expense:	1.680.000,00	1.989.000,00	2.352.000,00	2.742.000,00	3.219.000,00
A.5. Variation of trade provisions and losses of unrecovered receivables:	363.000,00	252.000,00	236.000,00	-56.000,00	457.180,00
a) Stock provision variation:	0,00	0,00	0,00	0,00	0,00
b) Variation in provision and bad debt losses:	362.050,00	251.341,00	235.383,00	-55.853,00	455.984,00
c) Variation of other trade provisions:	950,00	659,00	617,00	-147,00	1.196,00
A.6. Other operating charges:	23.959.000,00	28.332.000,00	26.291.000,00	20.586.000,00	26.858.820,00
a) External services:	23.081.000,00	27.438.000,00	25.879.000,00	20.204.000,00	26.122.927,00
b) Taxes:	878.000,00	894.000,00	412.000,00	382.000,00	735.893,00
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):	6.098.000,00	10.955.000,00	12.503.000,00	14.286.000,00	19.750.000,00
A.7. Financial and similar charges:	2.626.000,00	2.561.000,00	1.861.000,00	526.000,00	1.119.000,00
a) Due to liabilities with companies of the group:	0,00	0,00	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.:	2.626.000,00	2.561.000,00	1.861.000,00	526.000,00	1.119.000,00
d) Losses from financial investments:	0,00	0,00	0,00	0,00	0,00
A.8. Changes in financial investment provisions:	0,00	0,00	0,00	0,00	0,00
A.9. Exchange losses:	369.000,00	1.009.000,00	0,00	2.000,00	0,00
A.II. NET FINANCIAL INCOME (B.5+B.6+B.7+B.8-A.7-A.8-A.9):	62.000,00	0,00	1.795.000,00	6.000,00	0,00
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II):	6.160.000,00	9.598.000,00	14.298.000,00	14.292.000,00	19.130.000,00
A.10. Changes in provisions for intangible, tangible and securities portfolio:	62.000,00	-99.000,00	515.000,00	1.685.000,00	6.246.000,00
A.11. Losses from tangible and intangible fixed assets and securities portfolio:	92.000,00	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:	1.829.000,00	404.000,00	16.000,00	5.000,00	185.000,00
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	0,00	0,00	0,00	0,00
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV):	4.177.000,00	9.301.000,00	13.767.000,00	12.602.000,00	12.699.000,00
A.15. Corporation tax:	554.000,00	2.685.000,00	3.588.000,00	3.845.000,00	3.780.000,00
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):	3.623.000,00	6.616.000,00	10.179.000,00	8.757.000,00	8.919.000,00

MERCANTILE REGISTRY.

	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA	EQUIVALENCIA
CREDIT	2013	2012	2011	2010	2009
B) INCOME ( B.1 to B.13):	173.242.000,00	230.291.000,00	290.041.000,00	233.232.000,00	228.323.000,00
B.1. Net total sales:	169.359.000,00	227.920.000,00	285.371.000,00	232.397.000,00	227.722.000,00
a) Sales:	169.359.000,00	227.920.000,00	285.371.000,00	232.397.000,00	227.722.000,00
b) Rendering of services:	0,00	0,00	0,00	0,00	0,00
Returns and Rappel on sales:	0,00	0,00	0,00	0,00	0,00
B.2. Stock increase of manufactured goods and products in process:	0,00	0,00	0,00	0,00	0,00
B.3. Works performed by the company for fixed assets:	29.000,00	23.000,00	0,00	0,00	42.000,00
B.4. Miscellaneous operating income:	797.000,00	127.000,00	1.014.000,00	301.000,00	60.000,00
a) Auxiliary income and other from current management:	796.000,00	135.000,00	1.018.000,00	245.000,00	10.000,00
b) Grants:	1.000,00	-8.000,00	-4.000,00	56.000,00	0,00
c) Liabilities and charges provisions surplus:	0,00	0,00	0,00	0,00	50.000,00
B.I. PÉRDIDAS DE EXPLOTACIÓN (A.1+A.2+A.3+A.4+A.5-A.6-B.1-B.2-B.3-B.4):	0,00	0,00	0,00	0,00	0,00
B.5. Income from equity investment:	1.641.000,00	1.368.000,00	2.130.000,00	5.000,00	148.000,00
a) In companies of the group:	1.641.000,00	1.368.000,00	2.130.000,00	5.000,00	148.000,00
b) In associated companies:	0,00	0,00	0,00	0,00	0,00
c) Third parties:	0,00	0,00	0,00	0,00	0,00
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:	1.416.000,00	845.000,00	1.038.000,00	529.000,00	0,00
a) From companies of the group:	912.000,00	452.000,00	49.000,00	0,00	0,00
b) From associated companies:	0,00	0,00	0,00	0,00	0,00
c) Miscellaneous interests:	504.000,00	393.000,00	989.000,00	529.000,00	0,00
d) Profit on financial investment:	0,00	0,00	0,00	0,00	0,00
B.8. Exchange positive differences:	0,00	0,00	488.000,00	0,00	351.000,00
B.II. NEGATIVE FINANCIAL RESULTS (A.7+A.8+A.9-B.5-B.6-B.7-B.8):	0,00	1.357.000,00	0,00	0,00	620.000,00
B.III. LOSSES ON ORDINARY ACTIVITIES ( B.I + B.II - A.I - A.II ):	0,00	0,00	0,00	0,00	0,00
B.9.Profit on disposal of both tangible and intangible fixed assets and securities portfolio:	0,00	8.000,00	0,00	0,00	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):	1.983.000,00	297.000,00	531.000,00	1.690.000,00	6.431.000,00
B.V. LOSSES BEFORE TAXES (B.III+B.IV-A.III-A.IV):	0,00	0,00	0,00	0,00	0,00
B.VI. RESULT OF THE PERIOD (LOSSES) (B.V+A.15+A.16):	0,00	0,00	0,00	0,00	0,00

MERCANTILE REGISTRY.

CASHFLOW STATEMENT

Model: Normal

> Source of information: Data contained in this section is taken from the information declared in the Annual Accounts submitted to the Trade Register.

	2013	2012	2011	2010	2009
1. Fiscal year result before taxes.: 61100	4.177.000,00	9.301.000,00	13.767.000,00	12.602.000,00	12.699.000,00
2. Results adjustments.: 61200	1.783.000,00	2.755.000,00	486.000,00	6.123.000,00	11.815.000,00
a) Fixed Assets Amortization (+).: 61201	1.680.000,00	1.989.000,00	2.352.000,00	2.742.000,00	3.219.000,00
b) Obsolescence Allowances (+/-). : 61202	492.000,00	153.000,00	751.000,00	1.629.000,00	7.841.000,00
c) Variation in Provision (+/-). : 61203	-1.420.000,00	-744.000,00	-822.000,00	1.758.000,00	135.000,00
e) Results on disposal of fixed assets (+/-). : 61205	25.000,00	0,00	0,00	0,00	0,00
g) Financial income (-).: 61207	-3.057.000,00	-2.213.000,00	-3.168.000,00	-534.000,00	-148.000,00
h) Financial Expenses (+). : 61208	3.694.000,00	2.561.000,00	1.861.000,00	526.000,00	1.119.000,00
i) Exchange differences (+/-). : 61209	369.000,00	1.009.000,00	-488.000,00	2.000,00	-351.000,00
3. Changes in current capital equity.: 61300	-4.603.000,00	-3.669.000,00	-12.861.000,00	10.005.000,00	29.608.000,00
a) Stock (+/-).: 61301	-449.000,00	-709.000,00	23.831.000,00	-23.881.000,00	2.302.000,00
d) Debtors and other accounts receivable (+/-). : 61302	17.643.000,00	19.944.000,00	-2.652.000,00	-25.988.000,00	20.908.000,00
c) Other current assets (+/-). : 61303	-337.000,00	-22.000,00	-7.303.000,00	-5.013.000,00	7.000,00
d) Creditors and other accounts payable (+/-). : 61304	-21.608.000,00	-22.882.000,00	-25.521.000,00	62.669.000,00	6.549.000,00
e) Other current liabilities (+/-).: 61305	148.000,00	0,00	-1.157.000,00	2.208.000,00	0,00
f) Other non-current assets and liabilities (+/-).: 61306	0,00	0,00	-59.000,00	10.000,00	-158.000,00
4. Other cash flows for operating activities.: 61400	-1.414.000,00	-2.602.000,00	-1.578.000,00	-4.586.000,00	-6.181.000,00
a) Interest payments (-). : 61401	-3.694.000,00	-2.561.000,00	-1.861.000,00	-526.000,00	-1.119.000,00
b) Dividend payment collection (+). : 61402	1.641.000,00	1.368.000,00	2.130.000,00	0,00	0,00
c) Interest collection (+). : 61403	1.416.000,00	845.000,00	1.038.000,00	534.000,00	146.000,00
d) Income tax payment collection (payments) (+/-).: 61404	-777.000,00	-2.254.000,00	-2.885.000,00	-4.594.000,00	-5.208.000,00
5. Operating activity cash flows (1 + 2 + 3 + 4) : 61500	-57.000,00	5.785.000,00	-186.000,00	24.144.000,00	47.941.000,00
6. Payments for investment (-).: 62100	-1.783.000,00	-5.550.000,00	-2.162.000,00	-5.455.000,00	-7.046.000,00
a) Companies of the group and affiliates. : 62101	-304.000,00	-3.835.000,00	-73.000,00	-1.608.000,00	660.000,00
b) Intangible fixed assets. : 62102	-9.000,00	-13.000,00	-38.000,00	-17.000,00	-113.000,00
c) Fixed assets. : 62103	-1.470.000,00	-1.634.000,00	-2.051.000,00	-912.000,00	-904.000,00
e) Other financial assets. : 62105	0,00	-68.000,00	0,00	-2.918.000,00	-6.689.000,00
7. Divestment payment collection (+). : 62200	337.000,00	917.000,00	5.776.000,00	0,00	0,00
a) Companies of the group and affiliates. : 62201	152.000,00	908.000,00	0,00	0,00	0,00
c) Fixed assets. : 62203	111.000,00	9.000,00	0,00	0,00	0,00
e) Other financial assets. : 62205	74.000,00	0,00	5.776.000,00	0,00	0,00
8. Investment activity cash flows (6 + 7) minus Amortization: 62300	-1.446.000,00	-4.633.000,00	3.614.000,00	-5.455.000,00	-7.046.000,00
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	-210.000,00	4.140.000,00	-8.562.000,00	-2.286.000,00	-6.238.000,00
a) Issuance : 63201	724.000,00	6.455.000,00	-8.562.000,00	11.761.000,00	-6.238.000,00
2. Debts incurred with credit institutions (+). : 63203	724.000,00	6.455.000,00	-8.421.000,00	11.761.000,00	-21.266.000,00
5. Other debts (+). : 63206	0,00	0,00	-141.000,00	0,00	15.028.000,00
b) Repayment and amortization of : 63207	-934.000,00	-2.315.000,00	0,00	-14.047.000,00	0,00
2. Debts incurred with credit institutions (-).: 63209	-870.000,00	0,00	0,00	0,00	0,00
5. Other debts (-). : 63212	-64.000,00	-2.315.000,00	0,00	-14.047.000,00	0,00
11. Payments from dividends and remunerations from other assets instruments. : 63300	-3.937.000,00	-3.762.000,00	-9.450.000,00	-8.261.000,00	-12.023.000,00
a) Dividends (-).: 63301	-3.937.000,00	-3.762.000,00	-9.450.000,00	-8.261.000,00	-12.023.000,00
12. Cash flows for financing activities (9+10+11).: 63400	-4.147.000,00	378.000,00	-18.012.000,00	-10.547.000,00	-18.261.000,00
D) EFFECT OF EXCHANGE RATE CHANGES: 64000	-369.000,00	-1.009.000,00	488.000,00	-2.000,00	0,00
E) NET INCREASE/DECREASE OF CASH OR EQUIVALENT ASSETS (+/-5+/-8+/12+/-D) : 65000	-6.019.000,00	521.000,00	-14.096.000,00	8.140.000,00	22.634.000,00
Cash or equivalent assets as of beginning of the fiscal year.: 65100	26.733.000,00	26.212.000,00	40.308.000,00	32.168.000,00	9.534.000,00
Cash or equivalent assets as of end of the fiscal year.: 65200	20.714.000,00	26.733.000,00	26.212.000,00	40.308.000,00	32.168.000,00

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:	-0,04 %	0,01 %	0,00 %	0,07 %		-79,66 %
EBITDA over Sales:	4,59 %	11,46 %	5,68 %	9,23 %	-19,13 %	24,25 %
Cash Flow Yield:	-0,04 %	0,01 %	0,00 %	0,04 %		-79,78 %

Profitability	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Operating economic profitability:	4,60 %	7,10 %	6,94 %	5,21 %	-33,70 %	36,23 %
Total economic profitability:	4,32 %	3,90 %	6,58 %	2,48 %	-34,28 %	56,93 %
Financial profitability:	11,19 %	4,58 %	20,56 %	1,30 %	-45,59 %	252,58 %
Margin:	3,53 %	6,87 %	4,81 %	4,85 %	-26,58 %	41,72 %
Mark-up:	3,53 %	4,73 %	4,26 %	1,57 %	-17,07 %	200,61 %

Solvency	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Liquidity:	0,17	0,13	0,19	0,12	-8,26	14,92
Acid Test:	1,22	0,86	1,19	0,85	2,23	1,05
Working Capital / Investment:	0,18	0,05	0,16	0,03	12,81	94,77
Solvency:	1,24	1,18	1,20	1,17	3,17	0,38

Indebtedness	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Indebtedness level:	3,34	1,36	3,81	1,63	-12,35	-16,58
Borrowing Composition:	0,02	0,99	0,01	1,02	28,77	-3,86
Repayment Ability:	-20,10	79,96	273,97	17,41	-107,34	359,37
Warranty:	1,30	1,75	1,26	1,62	2,95	7,69
Generated resources / Total creditors:	0,04	0,09	0,06	0,07	-25,59	28,66

Efficiency	2013		2012		Variación 2013 - 2012
	Empresa	Sector	Empresa	Sector	Empresa	Sector
Productivity:	1,12	1,88	1,18	1,72	-4,72	8,79
Turnover of Collection Rights :	1,66	5,09	1,83	4,79	-9,23	6,24
Turnover of Payment Entitlements:	1,02	3,68	1,21	3,51	-15,29	4,72
Stock rotation:	103,52	7,34	191,12	6,48	-45,83	13,32
Assets turnover:	1,30	1,03	1,44	1,08	-9,69	-3,88
Borrowing Cost:	2,17	2,84	1,79	2,95	20,96	-3,91

> Trend of indicators under the General Accounting Plan of 2007 (2013, 2012, 2011, 2010, 2009)

Cash Flow	2013	2012	2011	2010	2009
Cash Flow over Sales:	-0,04 %	0,00 %	-0,05 %	0,04 %	0,10 %
EBITDA over Sales:	4,59 %	5,68 %	5,21 %	7,33 %	10,06 %
Cash Flow Yield:	-0,04 %	0,00 %	-0,07 %	0,03 %	0,13 %

Profitability	2013	2012	2011	2010	2009
Operating economic profitability:	4,60 %	6,94 %	7,06 %	6,65 %	12,50 %
Total economic profitability:	4,32 %	6,58 %	7,94 %	5,51 %	7,97 %
Financial profitability:	11,19 %	20,56 %	31,77 %	28,45 %	29,83 %
Margin:	3,53 %	4,81 %	4,37 %	6,14 %	8,67 %
Mark-up:	3,53 %	4,26 %	4,81 %	5,42 %	5,66 %

Solvency	2013	2012	2011	2010	2009
Liquidity:	0,17	0,19	0,17	0,20	0,24
Acid Test:	1,22	1,19	1,18	1,04	1,20
Working Capital / Investment:	0,18	0,16	0,14	0,13	0,15
Solvency:	1,24	1,20	1,18	1,17	1,21

Indebtedness	2013	2012	2011	2010	2009
Indebtedness level:	3,34	3,81	4,17	5,25	3,91
Borrowing Composition:	0,02	0,01	0,02	0,01	0,01
Repayment Ability:	-20,10	273,97	-11,25	24,40	6,04
Warranty:	1,30	1,26	1,24	1,20	1,27
Generated resources / Total creditors:	0,04	0,06	0,08	0,07	0,13

Efficiency	2013	2012	2011	2010	2009
Productivity:	1,12	1,18	1,17	1,23	1,30
Turnover of Collection Rights :	1,66	1,83	1,98	1,63	1,96
Turnover of Payment Entitlements:	1,02	1,21	1,33	0,84	1,20
Stock rotation:	103,52	191,12	641,41	9,00	551,92
Assets turnover:	1,30	1,44	1,62	1,08	1,44
Borrowing Cost:	2,17	1,79	1,17	0,26	0,82

COMPARATIVE SECTORIAL BALANCE

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

Variación -
Empresa	Sector

Variación -
Empresa	Sector

Variación -
Empresa	Sector

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Public Tenders and Works Won

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO PREVENTIVO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIIENTO DE MADRID SUR

Date Awarded:

12/12/2014

Cost:

265.872,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION DE DAÑOS FEEDER N 1,3 Y 4 SUBESTACION DE ESTEPAR,FEEDER 3 SUBESTACION AMURRIO

Date Awarded:

28/11/2014

Cost:

87.420,31 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

2 INTERVENCION POR INCIDENCIA SUCESO 369932 DEL 05 03 14 DE REMOTA EN LA C P P PALENCIA

Date Awarded:

24/11/2014

Cost:

102.796,81 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

INSTALACIONES ELECTRICAS PARA MONTAJE DE UNA SUBESTAION MOVIL EN PUENTE DE LOS FIERROS, L LEON GIJON

Date Awarded:

22/10/2014

Cost:

95.000,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REFUERZO DE SECCION Y PENDOLADO EN LOS T TORRE DEL BIERZO BEMBIBRE Y ASTORGA VEGA MAGAZ E INSTALACION DE DETECTORES DE ROBO EN FEEDERS DE LA SUBESTACIONES DEL TRAMO PALENCIA LEON

Date Awarded:

16/10/2014

Cost:

83.252,45 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION DE HILO DE CONTACTO FUERA DE TOLERANCIA EN EL TRAYECTO TARDIENTA MARCEN, P K 68 558 AL 69 838, P K 74 002 AL 74 482 Y DEL P K 75 842 AL 76 322 LINEA DE MADRID BARCELONA

Date Awarded:

08/08/2014

Cost:

66.496,13 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO PREVENTIVO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE ABRIL DE 2014

Date Awarded:

17/06/2014

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO PREVENTIVO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE JUNIO DE 2014

Date Awarded:

17/06/2014

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLNA DE TRATAMIENTO PREVENTIVO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE MAYO DE 2014

Date Awarded:

17/06/2014

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO PREVENTIVO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE MARZO DE 2014

Date Awarded:

26/05/2014

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO PREVENTIVO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE FEBRERO DE 2014

Date Awarded:

26/05/2014

Cost:

44.993,89 EURO.

Organisation that calls the tender:

JEFATURA DE INTENDENCIA DE ASUNTOS ECONOMICOS SUR

Objective of Tender:

Mantenimiento de Centros de transformación, pararrayos y líneas de media tensión en diversas BAES de la Segunda Suige Sur.

Date Awarded:

04/03/2014

Cost:

14.104,97 EURO.

Organisation that calls the tender:

JEFATURA DE INTENDENCIA DE ASUNTOS ECONOMICOS SUR

Objective of Tender:

Mantenimiento de Centros de transformación, pararrayos y líneas de media tensión en diversas BAES de la Segunda Suige Sur.

Date Awarded:

04/03/2014

Cost:

43.197,00 EURO.

Organisation that calls the tender:

JEFATURA DE INTENDENCIA DE ASUNTOS ECONOMICOS SUR

Objective of Tender:

MANTENIMIENTO DE CENTROS DE TRANSFORMACION, PARARRAYOS Y LINEAS DE MEDIA TENSION EN DIVERSAS BASES, ACUARTELAMIENTOS Y ESTABLECIMIENTOS SUIGE SUR

Date Awarded:

04/03/2014

Cost:

43.197,00 EURO.

Organisation that calls the tender:

JEFATURA DE INTENDENCIA DE ASUNTOS ECONOMICOS SUR

Objective of Tender:

MANTENIMIENTO DE CENTROS DE TRANSFORMACION, PARARRAYOS Y LINEAS DE MEDIA TENSION EN DIVERSAS BASES, ACUARTELAMIENTOS Y ESTABLECIMIENTOS SUIGE SUR

Date Awarded:

04/03/2014

Cost:

14.104,97 EURO.

Organisation that calls the tender:

JEFATURA DE INTENDENCIA DE ASUNTOS ECONOMICOS SUR

Objective of Tender:

MANTENIMIENTO DE CENTROS DE TRANSFORMACION, PARARRAYOS Y LINEAS DE MEDIA TENSION EN DIVERSAS BASES, ACUARTELAMIENTOS Y ESTABLECIMIENTOS SUIGE SUR

Date Awarded:

04/03/2014

Cost:

10.950,50 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

MONTAJE DE AUTOVALVULAS EN ESTACIONES CON SUBESTACION XERACO, VALLADA, ALZIRA, BENIFAIO, SILLA, VALENCIA FTE S LUIS, MALVARROSA Y MASSALFASSAR

Date Awarded:

28/11/2013

Cost:

42.487,80 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE DICIEMBRE DE 2013

Date Awarded:

11/11/2013

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE NOVIEMBRE DE 2013

Date Awarded:

28/10/2013

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DE LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE AGOSTO DE 2013

Date Awarded:

28/08/2013

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN TRATAMIENTO DE L A C EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE JUNIO DE 2013

Date Awarded:

03/06/2013

Cost:

44.993,89 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DEL LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE MAYO DE 2013

Date Awarded:

30/04/2013

Cost:

44.496,38 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DE L A C EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR DURANTE EL MES DE ABRIL DE 2013

Date Awarded:

03/04/2013

Cost:

44.438,21 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DEL LAC EN EL AMBITO DE LA JEFATURA DE AREA DE MANTENIMIENTO DE MADRID SUR

Date Awarded:

27/02/2013

Cost:

44.518,26 EURO.

Organisation that calls the tender:

CONSEJERIA DE ECONOMIA Y HACIENDA DE LA COMUNIDAD AUTONOMA DE EXTREMADURA

Objective of Tender:

Servicio de mantenimiento integral y gestión técnica del edificio Morerías sede de varias consejerías de la Junta de Extremadura.

Date Awarded:

18/12/2012

Cost:

194.967,65 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION DE MATERIALES, MODERNIZACION DE CATENARIA, PALENCIA LEON ENTRE LOS CANTONES 95 Y 98, L VENTA DE BAÑOS GIJON SANZ CRESPO

Date Awarded:

22/11/2012

Cost:

155.898,54 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

TRATAMIENNTO DE CATENARIA EN LA ESTACION DE OURENSE POR CIRCULACIONES AVE, L MONFORTE VIGO

Date Awarded:

16/10/2012

Cost:

126.706,18 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION DEFINITIVA DE AVERIA EN GRUPO RECTIFICADOR DE SS EE DE MIERES EL 15 09 2011 L LEON GIJON

Date Awarded:

14/09/2012

Cost:

233.097,13 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION DE CABLE DE ACERO 12 COLAS ,ANCLAJE T QUINTANA VILLAQUIRAN Y CABLE GUARDA ESTACIONES INTERMEDIAS L MADRID HENDAIA

Date Awarded:

31/08/2012

Cost:

131.000,23 EURO.

Organisation that calls the tender:

MINISTERIO DE DEFENSA

Objective of Tender:

COMPLEMENTARIO DE LA OBRA LAS PALMAS TELDE ELIMINACION CENTROS DE TRANSFORMACION DE EL GORO Y CUATRO PUERTAS Y SUSTITUCION DE LINEA AEREA B A GANDO

Date Awarded:

30/08/2012

Cost:

26.391,19 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

FINALIZACION DE SUSTITUCION DE DISYUNTORES EXTRARRAPIDOS EN SS EE CON CAMARAS APAGACHISPAS QUE CONTIENEN AMIANTO EN LA LINEA SEVILLA CADIZ

Date Awarded:

17/08/2012

Cost:

122.062,39 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUMINISTRO DE MATERIALES PARA REPUESTOS DE LAC DE LA LAV CORDOBA MALAGA

Date Awarded:

26/07/2012

Cost:

476.924,65 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION, NORMALIZACION Y SUPRESION DEL CABLE DE TIERRA EN T ORENSE ESTACION DE BARBANTES INCLUSIVE, L MONFORTE VIGO

Date Awarded:

18/07/2012

Cost:

97.742,54 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

ALIMENTACION EDIFICIO TECNICO DE FIGUERAS DESDE UN NUEVO CENTRO DE TRANSFORMACION

Date Awarded:

21/06/2012

Cost:

132.000,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REMODELACION DE LA ESTACION DE PUERTOLLANO DE LA LINEA DE ALTA VELOCIDAD MADRID SEVILLA ELECTRIFICACION

Date Awarded:

24/05/2012

Cost:

470.475,98 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

ADAPTACION DE LA SUBESTACION DE TRACCION DE GLORIAS PARA ALBERGAR UNA SEGUNDA ACOMETIDA ELECTRICA DE A T

Date Awarded:

08/05/2012

Cost:

310.784,65 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

INSTALACION DE LINEA NUMERO 2 DE SUMINISTRO DE ENERGIA A 750V EN EL TRAYECTO MADRID SUR MEJORADA DEL CAMPO LINEA DE ALTA VELOCIDAD MADRID BARCELONA FRONTERA FRANCESA

Date Awarded:

12/04/2012

Cost:

321.059,47 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUMINISTRO DE REPUESTOS PARA MANTENIMIENTO DE LAC Y SSAA DE LA LAV MADRID BARCELONA FRONTERA FRANCESA

Date Awarded:

15/03/2012

Cost:

117.926,11 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REVISION Y SUSTITUCION DE MATERIALES CRITICOS DE LA LAC EN EL TRAMO PALENCIA LEON BUSDONGO, L VENTA DE BAÑOS GIJON

Date Awarded:

07/03/2012

Cost:

103.785,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

CERCANIAS DE BILBAO, PREVENCION DE INCIDENCIAS EN CATENARIA, SUSTITUCION DE PROTECCIONES, TOMAS DE TIERRA Y CABLE GUARDA

Date Awarded:

16/11/2011

Cost:

131.433,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

100 TUBOS DE CALEFACCION 240 V 50 HZ

Date Awarded:

13/10/2011

Cost:

19.253,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUMINISTRO DE CABLE DE BRONCE 16 84

Date Awarded:

03/08/2011

Cost:

33.860,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION DEFINITIVA DESCARRILO ESTACION DE PUENTE DE LOS FIERROS, L VENTA DE BAÑOS GIJON, ELECTRIFICACION

Date Awarded:

18/04/2011

Cost:

37.909,79 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION ELEMENTOS CRITICOS L A C L VENTA DE BAÑOS SANTANDER TRAMO AGUILAR DE CAMPOO SANTANDER

Date Awarded:

15/04/2011

Cost:

169.885,95 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

INSTALACION DE GESTORES DE PROTECCION EN SS EE DE LA LINEA DE LEON GIJON

Date Awarded:

08/04/2011

Cost:

65.036,12 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REHABILITACION SUBESTACION ELECTRICA DE TRACCION DE TABLADA L VILLALBA SEGOVIA

Date Awarded:

22/02/2011

Cost:

654.848,49 EURO.

Organisation that calls the tender:

RED NACIONAL DE LOS FERROCARRILES ESPAÑOLES RENFE

Objective of Tender:

ADECUACION DE LOCALES TECNICOS EN ESTACIONES PARA SERVICIOS DE R ENFE OPERADORA ESTACIONES DE MALAGA LOTE1

Date Awarded:

09/02/2011

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION DE RECTIFICADORES DE TRACCION EN SS EE DE OURENSE Y RIBADAVIA LINEA MONFORTE VIGO

Date Awarded:

01/02/2011

Cost:

120.975,88 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

NO LOTE 1 GERENCIA DE MANTENIMIENTIO DE CORDOBA L SEVILLA MADRID

Date Awarded:

07/12/2010

Cost:

172.690,77 EURO.

Organisation that calls the tender:

REDES DE TELECOMUNICACION GALEGAS RETEGAL, S.A.

Objective of Tender:

SUMINISTRO E INSTALACION DE TRES TORRES DE TELECOMUNICACIONES PARA LA EXTENSION DEL PLAN DIRECTOR DE BANDA ANCHA 2010 2013 EN LAS PROVINCIAS DE LUGO Y OURENSE

Date Awarded:

04/12/2010

Cost:

123.310,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION DE EQUIPOS CON PCB EN LA GERENCIA DE MANTENIMIENTO DE BURGOS

Date Awarded:

25/11/2010

Cost:

436.092,32 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REHABILITACION DE PROTECCIONES EN SUBESTACIONES DEL TRAMO LEON GIJON

Date Awarded:

24/11/2010

Cost:

266.221,66 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

NO LOTE 2 GERENCIA MANTENIMIENTO CORDOBA LINEA CORDOBA MALAGA

Date Awarded:

29/10/2010

Cost:

165.707,38 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUMINISTRO DE REPUESTOS DE PRIMER ESTABLECIMIENTO PARA ELMANTENIMIENTO DE LA LINEA AEREA DE CONTACTO Y SS A

Date Awarded:

19/10/2010

Cost:

905.270,40 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION DE PRODUCTOS NO CONFORME SUSTITUCION DE H C DESGASTADO EN LA ESTACION DE VILLANUEVA DE GALLEGO P K

Date Awarded:

02/09/2010

Cost:

57.166,81 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION DE MATERIALES CRITICOS Y NORMALIZACION DE SECCIONAMIENTOS ESTACION DE SAHAGUN, L VENTA DE BAÑOS

Date Awarded:

13/05/2010

Cost:

126.914,59 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

DESDOBLAMIENTO DE SECCIONADORES DE PUNTA DE FEEDER EN LAS SSEE SISTEMAS 2X25 LAV MADRID BARCELONA

Date Awarded:

13/05/2010

Cost:

196.305,10 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION LINEA 15 KV ENTRE ZAMORA Y P SANABRIA PARA ADAPTACION A LAS NORMAS VIGENTES L ZAMORA CORU A

Date Awarded:

02/03/2010

Cost:

92.578,55 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REHABILITACION Y MODERNIZACION DE LA CATENARIA DEL TRAMO POLA DE LENA SOTO DEL REY

Date Awarded:

04/02/2010

Cost:

1.822.456,44 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

MONTAJE SECCIONADORES DE PUENTEO ESTAC CARRASCAL, ZUASTI,HUARTE Y TELEMANDO DESDE PCO DE MIRANDA L Z A

Date Awarded:

02/02/2010

Cost:

156.474,25 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

MONTAJE DE SECCIONADORES DE PUENTEO EN SUBESTACION DE CIZUR Y TELEMANDO DESDE PCO DE MIRANDA L Z A

Date Awarded:

21/01/2010

Cost:

73.830,24 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REHABILITACION Y MODERNIZACION DE LA CATENARIA DEL TRAMO BARAKALDO OLABEAGA

Date Awarded:

02/12/2009

Cost:

1.149.814,48 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION Y NORMALIZACION CABLE TIERRA POR INCIDENCIAEL 20 08 09 T BARBANTES EST RIBADAVIA L MONFORTE VIGO

Date Awarded:

06/11/2009

Cost:

115.564,32 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

MEJORA DE ELEMENTOS DE CATENARIA EN EL TRAYECTO MEDINA DEL CAMPO POZALDEZ L MADRID HENDAYA

Date Awarded:

13/10/2009

Cost:

79.387,12 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

REPARACION DEFINITIVA AVERIA EN LA L A C KM 44 300 T PAREDES DE NAVA VILLADA VIA 2 L V DE BA OS GIJON

Date Awarded:

07/10/2009

Cost:

91.986,49 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

MEJORA DE PROTECCIONES ELECTRICAS EN LINEAS DE A T DELPUERTO DE PAJARES L VENTA DE BA OS GIJON

Date Awarded:

02/10/2009

Cost:

138.023,10 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION DE RECTIFICADORES DE TRACCION EN DELEGACION NOROESTE 1 FASE

Date Awarded:

01/10/2009

Cost:

123.100,00 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

PLAN DE TRATAMIENTO DE LAC EN LA GERENCIA DE MANTENIMIENTO DE MADRID SUR

Date Awarded:

25/09/2009

Cost:

1.443.636,16 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

MEJORA DE ALIMENTACION DE LA CATENARIA EN EL TRAYECTO VALLADOLID VENTA DE BA OS L MADRID HENDAYA

Date Awarded:

11/09/2009

Cost:

124.735,62 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUMINISTRO DE EQUIPOS Y MATERIALES DEL SISTEMA DE ALMACENAMIENTO AVANZADO DE ENERGIA

Date Awarded:

16/07/2009

Cost:

137.772,44 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

Proyecto de instalación de subestaciones eléctricas y distribución de energía en la prolongación de la línea 11 de Metro de Madrid al Barrio de La Fortuna

Date Awarded:

03/07/2009

Cost:

3.399.889,83 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

Proyecto de instalación de electrificación a 1500 Vcc en la prolongación de la línea 11 de Metro de Madrid al Barrio de La Fortuna.

Date Awarded:

29/06/2009

Cost:

1.604.225,60 EURO.

Organisation that calls the tender:

CONSEJERIA DE SALUD Y BIENESTAR SOCIAL DE LA COMUNIDAD AUTONOMA DE CASTILLA LA MANCHA

Objective of Tender:

La reforma en instalación de fontanería de agua fría y agua caliente sanitaria en la Residencia de Mayores "Los Olmos" de Guadalajara.

Date Awarded:

12/06/2009

Cost:

170.896,20 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION MATERIALES CRITICOS DE LA L A C 1 FASE T PALENCIA BIFURCACION RIO BERNESGA L V DE BA OS GIJON

Date Awarded:

13/04/2009

Cost:

150.283,03 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE MAZARAMBROZ

Objective of Tender:

CONSTRUCCION DE UN GIMNASIO MUNICIPAL

Date Awarded:

17/03/2009

Cost:

203.536,21 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE BENETUSSER

Objective of Tender:

CONTRATO MAYOR DE EJECUCION DE LA OBRA REHABILITACION Y ACONDICIONAMIENTO DEL CHALET DE LA XAPA PARA ESPACIO PUBLICO DE EXPOSICION Y REUNION

Date Awarded:

17/03/2009

Cost:

258.620,32 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

TELEMANDO DE SECCIONADORES DE LA L A C ESTACION NUBLEDOL VILLABONA SAN JUAN DE NIEVA

Date Awarded:

23/02/2009

Cost:

106.422,24 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION MATERIALES CRITICOS DE LA L A C 1 FASE T BIFURCACION GALICIA BUSDONGO L V BA OS GIJON

Date Awarded:

20/02/2009

Cost:

123.667,64 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

SUSTITUCION, NORMALIZACION Y SUPRESION DE CRUCES DEL CABLE TIERRA EN EL T RIBADAVIA FILGUEIRA Y EST FILGUEIRA

Date Awarded:

27/01/2009

Cost:

74.544,67 EURO.

Organisation that calls the tender:

RED NACIONAL DE LOS FERROCARRILES ESPAÑOLES RENFE

Objective of Tender:

ADECUACION DE LA INSTALACION ELECTRICA DE DISTRIBUCION DEL COMPLEJO BARCELONA CAN TUNIS.

Date Awarded:

15/12/2008

Organisation that calls the tender:

AYUNTAMIENTO DE ESQUIVIAS

Objective of Tender:

REMODELACION DEL PASEO DE LA GALATEA RED DE ALUMBRADO PUBLICO DE LA LOCALIDAD DE ESQUIVIAS

Date Awarded:

11/12/2008

Cost:

81.895,99 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE LAS ROZAS DE MADRID

Objective of Tender:

Instalación de medidas para trabajos en altura.

Date Awarded:

12/11/2008

Cost:

126.845,08 EURO.

Organisation that calls the tender:

ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS ADIF

Objective of Tender:

TELEMANDO SECCIONADORES DE L A C ESTACION DE LUGONES L VENTA DE BAÑOS GIJON CERCANIAS

Date Awarded:

03/09/2008

Cost:

68.655,77 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE GUADALAJARA

Objective of Tender:

Reforma Centro Social

Date Awarded:

02/09/2008

Cost:

209.051,72 EURO.

Organisation that calls the tender:

CABILDO INSULAR DE GRAN CANARIA

Objective of Tender:

MEJORA ALUMBRADO PUBLICO VARIAS ZONAS DEL MUNICIPIO DE TEROR

Date Awarded:

20/05/2008

Cost:

100.000,00 EURO.

Organisation that calls the tender:

UNIVERSIDAD AUTONOMA DE BARCELONA

Objective of Tender:

Adequació, reforçament i millora de la instal·lació elèctrica de l edifici dels Serveis Informàtics.

Date Awarded:

13/12/2007

Cost:

Importe compartido entre distintos Contratistas

Organisation that calls the tender:

DIPUTACION PROVINCIAL DE BARCELONA

Objective of Tender:

Projecte d.estació transformadora Pavelló Nord. Recinte Llars Mundet.

Date Awarded:

27/11/2007

Cost:

334.445,65 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE LAS PALMAS DE GRAN CANARIA

Objective of Tender:

SUSTITUCIÓN Y/O AISLAMIENTO DE CUBIERTAS DE FIBROCEMENTO CON AMIANTO EN LOS CENTROS DE EDUCACIÓN INFANTIL Y PRIMARIAARAGÓN, BOLICHE, CATALUÑAE ISLAS BALEARES, DELTÉRMINOMUNICIPAL DE LAS PALMAS DE GRAN CANARIA (PROYECTO 2).

Date Awarded:

20/07/2007

Cost:

1.092.181,12 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE LAS PALMAS DE GRAN CANARIA

Objective of Tender:

SUSTITUCIÓN Y/O AISLAMIENTO DE CUBIERTAS DE FIBROCEMENTO CON AMIANTO EN LOS CENTROS DE EDUCACIÓN INFANTIL Y PRIMARIA LEÓN, ASTURIAS YMARÍA JESÚS PÉREZ, DEL TÉRMINO MUNICIPAL DE LAS PALMAS DE GRAN CANARIA

Date Awarded:

20/07/2007

Cost:

970.766,59 EURO.

Organisation that calls the tender:

DEPARTAMENTO DE POLITICA TERRITORIAL Y OBRAS PUBLICAS DE LA COMUNIDAD AUTONOMA DE CATALUÑA

Objective of Tender:

servicios afectados por la obra: mejora local. Mejora de nudo. Rotonda en la carretera BP- 5002, pk 8+300. Tramo: Vallromanes (XB02156SA).

Date Awarded:

10/01/2007

Cost:

209.855,37 EURO.

Organisation that calls the tender:

ENTIDAD PUBLICA ARAGONESA DE SERVICIOS TELEMATICOS

Objective of Tender:

suministro de casetas y torres para la instalación de sistemas de telecomunicaciones.

Date Awarded:

14/12/2006

Cost:

Importe compartido entre distintos Contratistas

Organisation that calls the tender:

ENTIDAD PUBLICA ARAGONESA DE SERVICIOS TELEMATICOS

Objective of Tender:

suministro de casetas y torres para la instalación de sistemas de telecomunicaciones.

Date Awarded:

14/12/2006

Cost:

Importe compartido entre distintos Contratistas

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

INSTALACION DE SUBESTACIONES ELECTRICAS A 1500 VCC EN LA PROLONGACION DE LA LINEA 3 DE METRO DE MADRID

Date Awarded:

03/04/2006

Cost:

13.772.247,62 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

Contrato de Subestaciones eléctricas a 1.500 Vcc en la prolongación de la Línea 3 de Metro de Madrid

Date Awarded:

17/03/2006

Cost:

12.421.266,90 EURO.

Organisation that calls the tender:

AYUNTAMIENTO DE LEZUZA

Objective of Tender:

Ampliación y reforma museo etnográfico de Tiriez

Date Awarded:

22/02/2006

Cost:

135.800,00 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

Contrato de instalación de electrificación a 1.500 Vcc en la prolongación de la Línea 3 de Metro de Madrid

Date Awarded:

15/02/2006

Cost:

4.488.836,43 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

ELECTRIFICACION A 1 500 VCC EN LA PROLONGACION DE LA LINEA 3 DE METRO DE MADRID

Date Awarded:

15/02/2006

Cost:

4.488.836,43 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

ELECTRIFICACION A 1 500 VCC EN LA PROLONGACION DE LA LINEA 3 DE METRO DE MADRID MI 337

Date Awarded:

15/02/2006

Cost:

4.488.836,43 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

Contrato de Comunicaciones de las cocheras de Hortaleza para las Líneas 1 y 4 de Metro de Madrid

Date Awarded:

19/01/2006

Cost:

948.525,74 EURO.

Organisation that calls the tender:

MADRID INFRAESTRUCTURAS DEL TRANSPORTE MINTRA

Objective of Tender:

COMUNICACIONES DE LAS COCHERAS DE HORTALEZA PARA LAS LINEAS 1 Y 4 DE METRO DE MADRID

Date Awarded:

19/01/2006

Cost:

948.525,74 EURO.

Research Summary

Company founded for many years ago, fact which provides it enough experience in its sector and enjoys good concept in general among the information sources consulted. Its billing was reduced 253.69% due to the current economical crisis. It meets with normality the payment obligations.

Sources

Registry of Commerce's Official Gazette. Own and external data bases Company References

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.20
UK Pound	1	Rs.94.71
Euro	1	Rs.68.60

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	MNL

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.