MIRA INFORM REPORT

Report No. :	313794
Report Date :	24.03.2015

IDENTIFICATION DETAILS

Name :	PIMURSA SL

Registered Office :	Calle Lo Navarro 10 - Murcia - 30110 - Murcia

Country :	Spain

Financials (as on) :	31.12.2012

Date of Incorporation :	16.10.1967

Legal Form :	Private Company

Line of Business :	Manufacture of prepared meals and dishes

No. of Employee :	55 (2012)

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Spain

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:

PIMURSA SL

NIF / Fiscal code:

B30010797

Status:

ACTIVE

Incorporation Date:

16/01/1967

Register Data

Last Publication in BORME:

29/12/2014 [Reelections]

Last Published Account Deposit:

2012

Share Capital:

102.170

Localization:

CALLE LO NAVARRO 10 - MURCIA - 30110 - MURCIA

Telephone - Fax - Email - Website:

Telephone. 968 879 999 Email. info@pimursa.es Website. www.pimursa.es

Number of Branches

Activity:

NACE:

1085 - Manufacture of prepared meals and dishes

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

0 for a total cost of 0

Subsidies:

0 for a total cost of 0

Main products / services:

SeasoningCapsicumsHerbiristería

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Defaults on debt with Financial Institutions and Large Companies

None

---

Judicial Claims (Notices, Executive Proceedings, Attachments, Auctions, Bad Debt)

None

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

---

Partners:

HERMANOS SANCHEZ MUÑOZ SL

90 %

Identification

Social Denomination:

PIMURSA SL

NIF / Fiscal code:

B30010797

Corporate Status:

ACTIVE

Start of activity:

1967

Registered Office:

CALLE LO NAVARRO 10

Locality:

MURCIA

Province:

MURCIA

Postal Code:

30110

Telephone:

968 879 999

Fax:

968 879 988

Website:

www.pimursa.es

Email:

info@pimursa.es

Interviewed Person:

Administration

BRANCH OFFICES

Address

Postal Code

City

Province

Paraje de Ajauque, s/n

30620

Fortuna

Murcia

ACTIVITY

NACE:

1085

CNAE Obtaining Source:

1085

Additional Information:

Production, selling and exportation of complete solutions for food industry, mainly for the meat industry. - Additional Address: Main offices and part of the branches are placed in the opening addresses. It has other branches at Paraje de Ajauque, Fortuna (Murcia).

Franchise:

Import / export:

IMPORTS / EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

MAIN PRODUCTS / SERVICES

Product

% Over Sales

Seasoning

Capsicums

Herbiristería

Óleo & ceites esenciales

Especias

Deshidratados

NUMBER OF EMPLOYEES

Year

No. of employees

Established

Incidentals

2012

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

Chronological Summary

Year

Act

1991

Accounts deposit (ejer. 1989) Appointments/ Re-elections (1)

1992

Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Change of Social Denomination (1) Change of Social Purpose (1) Company Transformation (1)

1993

Accounts deposit (ejer. 1991, 1992)

1994

Accounts deposit (ejer. 1993) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1)

1995

Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

1996

Accounts deposit (ejer. 1994)

1997

Accounts deposit (ejer. 1995) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (2)

1998

Accounts deposit (ejer. 1996) Adaptation to Law (1) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2)

1999

Accounts deposit (ejer. 1997) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

2000

Accounts deposit (ejer. 1998)

2001

Accounts deposit (ejer. 1999) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

2002

Accounts deposit (ejer. 2000)

2003

Accounts deposit (ejer. 2001)

2004

Cessations/ Resignations/ Reversals (1)

2005

Accounts deposit (ejer. 2002)

2007

Accounts deposit (ejer. 2003)

2008

Accounts deposit (ejer. 2004)

2009

Accounts deposit (ejer. 2005)

2012

Accounts deposit (ejer. 2007, 2008, 2009, 2010) Appointments/ Re-elections (6) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (1)

2014

Appointments/ Re-elections (1)

2015

Accounts deposit (ejer. 2012)

Breakdown of Owners' Equity

Registered Capital:

102.170

Paid up capital:

102.170

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

JOSE MIGUEL SANCHEZ FRANCO

28/08/2012

MEMBER OF THE BOARD

JUAN ANTONIO SANCHEZ FRANCO

16/03/2001

JOSE MIGUEL SANCHEZ FRANCO

16/03/2001

MIGUEL ANGEL GUERRERO SANCHEZ

16/03/2001

COMBINED CHIEF EXECUTIVE OFFICER

MIGUEL ANGEL GUERRERO SANCHEZ

28/08/2012

JOSE MIGUEL SANCHEZ FRANCO

28/08/2012

JUAN ANTONIO SANCHEZ FRANCO

28/08/2012

LUIS MIGUEL SANCHEZ BALLESTEROS

28/08/2012

PROXY

RITA SANCHEZ MUÑOZ

29/03/1994

SECRETARY

LUIS MIGUEL SANCHEZ BALLESTEROS

28/08/2012

ACCOUNTS' AUDITOR / HOLDER

BETA AUDITORES SL

19/12/2014

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ANTONIO MUÑOZ MARTINEZ

PRESIDENT

14/08/1992

PRESIDENT

27/12/1994

ANTONIO SANCHEZ MUÑOZ

SECRETARY

14/08/1992

MEMBER OF THE BOARD

26/10/1998

SECRETARY

26/10/1998

CHIEF EXECUTIVE OFFICER

26/10/1998

CHIEF EXECUTIVE OFFICER

26/10/1998

MEMBER OF THE BOARD

26/10/1998

MEMBER OF THE BOARD

16/03/2001

MEMBER OF THE BOARD

28/08/2012

GENERAL MANAGER

14/08/1992

CHIEF EXECUTIVE OFFICER

16/03/2001

SECRETARY

16/03/2001

CHIEF EXECUTIVE OFFICER

12/05/2004

VICE CHAIRMAN

28/08/2012

BETA AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

19/12/2014

ACCOUNTS' AUDITOR / HOLDER

02/05/2012

ACCOUNTS' AUDITOR / HOLDER

02/05/2012

ACCOUNTS' AUDITOR / HOLDER

02/05/2012

ACCOUNTS' AUDITOR / HOLDER

02/05/2012

DRT DELOITTE Y TOUCHE SA

ACCOUNTS' AUDITOR / HOLDER

11/04/1995

ACCOUNTS' AUDITOR / HOLDER

25/11/1997

EURO AUDITORES SOCIEDAD LIMITADA

ACCOUNTS' AUDITOR / HOLDER

15/02/1999

JOSE MIGUEL SANCHEZ FRANCO

COMBINED CHIEF EXECUTIVE OFFICER

28/08/2012

JOSE SANCHEZ MUÑOZ

MEMBER OF THE BOARD

26/10/1998

MEMBER OF THE BOARD

26/10/1998

MEMBER OF THE BOARD

16/03/2001

MEMBER OF THE BOARD

28/08/2012

JOINT CHIEF EXECUTIVE OFFICER

26/10/1998

JOINT CHIEF EXECUTIVE OFFICER

26/10/1998

JOINT CHIEF EXECUTIVE OFFICER

16/03/2001

PRESIDENT

26/10/1998

VICE CHAIRMAN

14/08/1992

GENERAL MANAGER

14/08/1992

PRESIDENT

28/08/2012

PRESIDENT

16/03/2001

VICE CHAIRMAN

27/12/1994

JUAN ANTONIO SANCHEZ FRANCO

COMBINED CHIEF EXECUTIVE OFFICER

28/08/2012

LUIS MIGUEL SANCHEZ BALLESTEROS

MEMBER OF THE BOARD

28/08/2012

COMBINED CHIEF EXECUTIVE OFFICER

28/08/2012

MARIA VIOLANTE SANCHEZ MUÑOZ

MEMBER

14/08/1992

MEMBER OF THE BOARD

20/01/1998

VICE SECRETARY

13/05/1997

MIGUEL ANGEL GUERRERO SANCHEZ

COMBINED CHIEF EXECUTIVE OFFICER

28/08/2012

RITA SANCHEZ MUÑOZ

MEMBER

14/08/1992

MEMBER OF THE BOARD

16/03/2001

MEMBER OF THE BOARD

26/10/1998

MEMBER OF THE BOARD

28/08/2012

COMBINED CHIEF EXECUTIVE OFFICER

28/08/2012

SECRETARY

28/08/2012

Executive board

Post

NIF

Name

FINANCIAL DIRECTOR

JUAN ANTONIO SANCHEZ

Defaults, Legal Claims and Insolvency Proceedings

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

> Summary

Chronological summary

Number of Publications

Amount (_)

Start date

End date

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Request/Declaration

---

date

Proceedings

---

Resolution

---

Defaults on debt with Financial Institutions and Large Companies

Bank and Commercial Delinquency

None

Status: Friendly

---

Status: Pre-Litigation

---

Status: Litigation

---

Status: Non-performing

---

Status: insolvency proceedings, bankruptcy and suspension of payments

---

Other status

---

Legal and Administrative Proceedings

Unpublished

---

Notices of defaults and enforcement

---

Seizures

---

Auctions

---

Declarations of insolvency and bad debt

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

---

12/04/2013

> Detail

> Basis for scoring

Positive Factors

Adverse Factors

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

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

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

Generates cash and cash equivalents through operating income. An increase in this ratio would indicate an improvement in the Company´s financial situation.

PIMURSA SL has received several grants within the last twelve months. As a prerequisite to obtaining a grant, it has had to prove its financial and technical solvency as stated by the laws in force.

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

The current debt represents a 77.33% of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

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

No Company's subsidiaries or branches are known.

Possible difficulty accessing financing. Uncertainties about economic recovery will hinder access to credit for new projects or for obtaining the liquidity necessary for short-term needs.

Probability of default

> Estimated Probability of Default for the next 12 months: 2.635 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

108 Manufacture of other food products

wordml://2575

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 60.00% of the companies of the sector PIMURSA SL belongs to show a higher probability of non-compliance.

The probability of the company's non-compliance with its payment obligations within deadlines estimated by our qualifications models is 2.635%.

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.

Recommended commercial credit

Favourable until 835.000 € (Guideline value of outstanding commercial balance that axesor recommends be awarded to or maintained with the company queried)

Result of query submitted to the R.A.I. (Spanish Bad Debt Register) on

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

No se han publicado

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

No se han publicado

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

No se han publicado

Incidences with the Social Security

No se han publicado

Incidences with the Autonomous Administration

No se han publicado

Incidences with the Local Administration

No se han publicado

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

No se han publicado

Proceedings by the old Civil Procedural Law 1.881

No se han publicado

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Procedimientos ante Juzgados de lo Social

1 Incidence for a total cost of 0,00 E

Link List

IS RELATED WITH:

2 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

HERMANOS SANCHEZ MUÑOZ SL

MURCIA

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

HERMANOS SANCHEZ MUÑOZ SL

MURCIA

OLEORED SL

MURCIA

Turnover

Total Sales 2012

26.269.089

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

Estimated Balance

The last accounts deposit that appears in the mercantile register in the name of the owner corresponds to the accounting year-end close at 31-12-2013 and, therefore, we have no knowledge on its account evolution in the last 2 years, we cannot include the figures, this is usual in this kind of jobs.

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2012

Normales

March 2015

2011

Normales

No publicado en BORME

2010

Normales

May 2012

2009

Normales

May 2012

2008

Normales

May 2012

2007

Normales

May 2012

2005

Normales

February 2009

2004

Normales

June 2008

2003

Normales

May 2007

2002

Normales

June 2005

2001

Normales

February 2003

2000

Normales

April 2002

1999

Normales

March 2001

1998

Normales

February 2000

1997

Normales

February 1999

1996

Normales

January 1998

1995

Normales

February 1997

1994

Normales

September 1995

1993

Normales

March 1994

1992

Normales

April 1993

1991

Normales

November 1992

1989

Normales

February 1991

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

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

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

ORIGINAL

EQUIVALENCIA

Assets

2012

2011

2010

2009

2005

A) NON-CURRENT ASSETS: 11000

2.986.933,00

3.126.011,00

3.388.590,00

3.686.512,00

3.094.161,00

I. Intangible fixed assets : 11100

62.265,00

46.764,00

46.659,00

27.781,00

41.239,00

1. Development: 11110

0,00

29.500,00

0,00

893,00

2. Concessions: 11120

0,00

6.149,00

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

6.053,00

5.654,00

659,00

0,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

56.212,00

11.610,00

11.505,00

27.122,00

34.197,00

6. Investigation: 11160

0,00

29.500,00

0,00

7. Intellectual property: 11180

0,00

8. Greenhouse gas emission allowance: 11190

0,00

9. Other intangible fixed assets. : 11170

0,00

II. Tangible fixed assets : 11200

2.825.596,00

3.051.360,00

3.314.044,00

3.634.844,00

2.911.070,00

1. Land and buildings: 11210

1.290.393,00

1.316.049,00

1.277.571,00

1.302.323,00

696.497,00

2. Technical installations and other tangible fixed assets: 11220

1.520.203,00

1.720.311,00

2.021.473,00

2.317.521,00

2.199.573,00

3. Tangible asset in progress and advances: 11230

15.000,00

III. Real estate investment: 11300

0,00

1. Land: 11310

0,00

2. Buildings: 11320

0,00

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

0,00

140.800,00

1. Equity instruments: 11410

0,00

2. Credits to businesses: 11420

0,00

140.800,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

6. Other investments: 11460

0,00

V. Long-term financial investments: 11500

99.072,00

27.887,00

23.887,00

1.052,00

1. Equity instruments: 11510

98.771,00

27.586,00

23.586,00

751,00

2. Credits to third parties : 11520

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

301,00

6. Other investments: 11560

0,00

VI. Assets for deferred tax : 11600

0,00

VII. Non-current trade debts : 11700

0,00

B) CURRENT ASSETS: 12000

17.105.910,00

13.738.995,00

12.106.560,00

10.167.349,00

9.020.965,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

7.835.568,00

7.188.219,00

5.752.449,00

4.975.849,00

5.240.957,00

1. Commercial: 12210

0,00

2. Primary material and other supplies: 12220

3.943.844,00

3.962.685,00

3.616.425,00

3.411.147,00

4.158.408,00

3. Work in progress: 12230

1.631.649,00

1.947.194,00

1.389.104,00

899.275,00

397.450,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

1.631.649,00

1.947.194,00

1.389.104,00

899.275,00

397.450,00

4. Finished goods: 12240

0,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

0,00

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

0,00

6. Advances to suppliers: 12260

2.260.075,00

1.278.340,00

746.920,00

665.427,00

685.099,00

III. Trade debtors and others receivable accounts: 12300

8.335.996,00

6.124.564,00

6.261.113,00

5.021.038,00

3.413.445,00

1. Trade debtors / accounts receivable: 12310

7.694.648,00

5.909.014,00

5.874.707,00

4.405.737,00

3.291.554,00

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

0,00

b) Customers for sales and provisions of services : 12312

7.694.648,00

5.909.014,00

5.874.707,00

4.405.737,00

3.291.554,00

2. Customers, Group companies and associates : 12320

0,00

3. Other accounts receivable: 12330

0,00

27.496,00

4. Personnel: 12340

0,00

5. Assets for deferred tax: 12350

0,00

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

641.348,00

215.550,00

386.406,00

615.301,00

94.395,00

7. Called up share capital: 12370

0,00

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

0,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

0,00

3. Debt securities: 12430

0,00

4. Derivatives : 12440

0,00

5. Other financial assets : 12450

0,00

6. Other investments: 12460

0,00

V. Short-term financial investments : 12500

50.539,00

17.170,00

0,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

50.539,00

17.170,00

0,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

0,00

366.563,00

VII. Cash and other equivalent liquid assets : 12700

883.807,00

409.042,00

92.998,00

170.462,00

0,00

1. Treasury: 12710

883.807,00

409.042,00

92.998,00

170.462,00

0,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

20.092.843,00

16.865.006,00

15.495.150,00

13.853.861,00

12.115.126,00

ORIGINAL

EQUIVALENCIA

Liabilities and Net Worth

2012

2011

2010

2009

2005

A) NET WORTH: 20000

4.367.443,00

4.219.704,00

4.142.101,00

4.025.202,00

3.546.449,00

A-1) Shareholders' equity: 21000

4.367.443,00

4.219.704,00

4.142.101,00

4.025.202,00

3.546.449,00

I. Capital: 21100

102.170,00

1. Registered capital : 21110

102.170,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

3.997.534,00

3.919.931,00

3.803.032,00

3.634.108,00

3.375.778,00

1. Legal y estatutarias: 21310

25.543,00

2. Other reserves: 21320

3.971.991,00

3.894.388,00

3.777.489,00

3.608.565,00

3.350.235,00

3. Revaluation reserves: 21330

0,00

IV. (Common stock equity): 21400

0,00

V. Results from previous periods: 21500

0,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

267.739,00

197.603,00

236.899,00

288.924,00

188.501,00

VIII. (Interim dividend): 21800

0,00

-120.000,00

IX. Other net worth instruments: 21900

0,00

A-2) Adjustments due to changes in value: 22000

0,00

I. Financial assets held for sale: 22100

0,00

II. Hedge operations: 22200

0,00

III. Linked non-current assets and liabilities held for sale : 22300

0,00

IV. Exchange rate difference: 22400

0,00

V. Other: 22500

0,00

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

0,00

B) NON-CURRENT LIABILITIES: 31000

187.131,00

98.725,00

312.306,00

984.921,00

1.795.410,00

I. Long-term provisions: 31100

0,00

1. Long-term employee benefits liability: 31110

0,00

2. Environmental actions: 31120

0,00

3. Restructuring provisions: 31130

0,00

4. Other provisions: 31140

0,00

II Long-term creditors: 31200

137.836,00

73.617,00

312.306,00

980.021,00

1.795.410,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

137.836,00

73.617,00

312.306,00

939.602,00

1.795.410,00

3. Creditors from financial leasing: 31230

0,00

40.419,00

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

0,00

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

0,00

IV. Liabilities for deferred tax: 31400

49.295,00

25.108,00

0,00

4.900,00

0,00

V. Long-term accruals: 31500

0,00

VI. Non-current trade creditors : 31600

0,00

VII. Special long-term debts : 31700

0,00

C) CURRENT LIABILITIES : 32000

15.538.269,00

12.546.577,00

11.040.743,00

8.843.738,00

6.773.267,00

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

0,00

II. Short-term provisions: 32200

0,00

1. Provisions from greenhouse gas emission allowance: 32210

0,00

2. Other provisions: 32220

0,00

III. Short-term creditors : 32300

12.385.955,00

10.498.119,00

8.290.742,00

7.133.539,00

5.270.637,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

11.450.682,00

9.736.739,00

7.647.448,00

6.337.377,00

4.805.775,00

3. Creditors from financial leasing: 32330

0,00

10.589,00

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

935.273,00

761.380,00

643.294,00

785.573,00

464.862,00

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

0,00

V. Trade creditors and other accounts payable: 32500

3.152.314,00

2.048.458,00

2.750.001,00

1.710.199,00

1.502.630,00

1. Suppliers: 32510

2.438.656,00

1.848.152,00

2.440.436,00

1.405.449,00

1.302.180,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

2.438.656,00

1.848.152,00

2.440.436,00

1.405.449,00

1.302.180,00

2. Suppliers, Group companies and associates: 32520

0,00

3. Other creditors: 32530

378.915,00

-62.855,00

-81.599,00

69.065,00

0,00

4. Personnel (remuneration due): 32540

190.454,00

161.031,00

194.909,00

102.469,00

133.013,00

5. Liabilities for current tax: 32550

36.086,00

312,00

45.370,00

63.513,00

0,00

6. Other accounts payable to Public Administrations.: 32560

108.203,00

101.818,00

150.885,00

69.703,00

67.437,00

7. Advances from clients: 32570

0,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

20.092.843,00

16.865.006,00

15.495.150,00

13.853.861,00

12.115.126,00

ORIGINAL

EQUIVALENCIA

Profit and Loss

2012

2011

2010

2009

2005

1. Net turnover: 40100

26.269.089,00

21.437.072,00

19.909.196,00

19.985.208,00

14.429.978,00

a) Sales: 40110

26.269.089,00

21.437.072,00

19.909.196,00

19.985.208,00

14.429.978,00

b) Rendering of services: 40120

0,00

c) Income of financial nature of holding companies: 40130

0,00

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

-315.547,00

558.089,00

489.828,00

-1.008.210,00

-997.926,00

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

0,00

4. Supplies : 40400

-17.805.924,00

-15.350.101,00

-14.364.251,00

-13.078.448,00

-9.202.669,00

a) Stock consumption: 40410

-5.532.714,00

-4.889.299,00

-3.002.105,00

-3.117.875,00

-2.965.478,00

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

-12.273.210,00

-10.460.802,00

-11.362.146,00

-9.960.573,00

-6.237.191,00

c) Works carried out by other companies: 40430

0,00

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

0,00

5. Other operating income: 40500

0,00

2.306,00

a) Auxiliary income and other from current management: 40510

0,00

2.306,00

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

0,00

6. Personnel costs: 40600

-2.620.368,00

-2.409.450,00

-2.226.258,00

-2.055.145,00

-1.703.981,00

a) Wages, salaries et al.: 40610

-2.102.307,00

-1.871.670,00

-1.737.863,00

-1.649.331,00

-1.348.823,00

b) Social security costs: 40620

-518.061,00

-537.780,00

-488.395,00

-405.814,00

-355.158,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-3.640.758,00

-3.060.163,00

-2.906.727,00

-2.537.520,00

-1.712.018,00

a) External services: 40710

-3.545.020,00

-2.949.229,00

-2.865.757,00

-2.505.204,00

-1.718.259,00

b) Taxes: 40720

-95.738,00

-110.934,00

-40.970,00

-32.316,00

-18.456,00

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

0,00

24.697,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-566.868,00

-523.956,00

-507.402,00

-503.662,00

-279.619,00

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

0,00

10. Excess provisions : 41000

0,00

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

0,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

0,00

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

0,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

-24.874,00

44.646,00

-421,00

15.942,00

7.443,00

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

1.294.750,00

696.137,00

393.965,00

818.165,00

543.514,00

14. Financial income : 41400

-2.212,00

1.576,00

167.966,00

52.597,00

1.828,00

a) Of shares in equity instruments : 41410

0,00

a 1) In Group companies and associates: 41411

0,00

a 2) In third parties: 41412

0,00

b) From negotiable securities and other financial instruments : 41420

-2.212,00

1.576,00

167.966,00

52.597,00

1.828,00

b 1) From Group companies and associates : 41421

0,00

b 2) From third parties : 41422

-2.212,00

1.576,00

167.966,00

52.597,00

1.828,00

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

0,00

15. Financial expenditure: 41500

-649.798,00

-345.951,00

-229.016,00

-383.183,00

-197.415,00

a) Amounts owed to Group companies and associates : 41510

0,00

b) For debts with third parties : 41520

-649.798,00

-345.951,00

-229.016,00

-383.183,00

-197.415,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

a) Trading book and other : 41610

0,00

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

0,00

17. Exchange rate differences : 41700

-254.975,00

-69.472,00

4.421,00

-78.128,00

-63.003,00

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

0,00

a) Impairment and losses : 41810

0,00

b) Results for transfers and other : 41820

0,00

19. Other financial income and expenditure: 42100

0,00

a) Incorporation of financial expenditure to assets: 42110

0,00

b) Financial income from arrangement with creditors: 42120

0,00

c) Other income and expenditure: 42130

0,00

A.2) FINANCIAL REVENUE (14+15+16+17+18+19) : 49200

-906.985,00

-413.847,00

-56.629,00

-408.714,00

-258.590,00

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

387.765,00

282.290,00

337.336,00

409.451,00

284.924,00

20. Income taxes: 41900

-120.026,00

-84.687,00

-100.437,00

-120.527,00

-96.422,00

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

267.739,00

197.603,00

236.899,00

288.924,00

188.502,00

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

0,00

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

267.739,00

197.603,00

236.899,00

288.924,00

188.502,00

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

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

EQUIVALENCIA

ORIGINAL

ASSETS

2012

2011

2010

2009

2005

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

2.986.933,00

3.126.011,00

3.388.590,00

3.686.512,00

3.094.161,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

62.265,00

46.764,00

46.659,00

27.781,00

41.239,00

1. Research and development costs:

0,00

29.500,00

0,00

2.298,00

2. Concessions, patents, licences, trademarks et al.:

6.053,00

5.654,00

659,00

15.828,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

5. Software:

56.212,00

11.610,00

11.505,00

27.122,00

88.030,00

6. Assets under capital leases:

0,00

7. Payments on account:

0,00

8. Provisions:

0,00

9. Accumulated depreciation:

0,00

-64.917,00

III. Tangible fixed assets:

2.825.596,00

3.051.360,00

3.314.044,00

3.634.844,00

2.911.070,00

1. Land and construction:

1.290.393,00

1.316.049,00

1.277.571,00

1.302.323,00

1.527.263,00

2. Technical installations and machinery:

1.520.203,00

1.720.311,00

2.021.473,00

2.317.521,00

3.774.753,00

3. Other installations, tools and furniture:

0,00

472.431,00

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

15.000,00

5. Other tangible assets:

0,00

575.988,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

-3.454.365,00

IV. Financial investments:

99.072,00

27.887,00

23.887,00

141.852,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

0,00

140.800,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

98.771,00

27.586,00

23.586,00

751,00

6. Other receivables:

0,00

7. Long term guarantees and deposits:

301,00

8. Provisions:

0,00

9. Long-term receivables from public bodies:

0,00

V. Own shares:

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

17.105.910,00

13.738.995,00

12.106.560,00

10.167.349,00

9.020.965,00

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

0,00

II. Stocks:

7.835.568,00

7.188.219,00

5.752.449,00

4.975.849,00

5.240.957,00

1. Goods for resale:

0,00

2. Raw materials and other consumables:

3.943.844,00

3.962.685,00

3.616.425,00

3.411.147,00

4.158.408,00

3. Goods in process and semifinished ones:

1.631.649,00

1.947.194,00

1.389.104,00

899.275,00

397.450,00

4. Finished products:

0,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

2.260.075,00

1.278.340,00

746.920,00

665.427,00

685.099,00

7. Provisions:

0,00

III. Debtors:

8.335.996,00

6.124.564,00

6.261.113,00

5.021.038,00

3.413.445,00

1. Trade debtors / accounts receivable:

7.694.648,00

5.909.014,00

5.874.707,00

4.405.737,00

3.357.991,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

0,00

28.051,00

5. Staff:

0,00

6. Public bodies:

641.348,00

215.550,00

386.406,00

615.301,00

94.395,00

7. Provisions:

0,00

-66.992,00

IV. Short-term investments:

50.539,00

17.170,00

0,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

0,00

6. Other receivables:

0,00

7. Shor term guarantees and deposits:

50.539,00

17.170,00

0,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

883.807,00

409.042,00

92.998,00

170.462,00

0,00

VII. Prepayments and accrued income:

0,00

366.563,00

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

20.092.843,00

16.865.006,00

15.495.150,00

13.853.861,00

12.115.126,00

MERCANTILE REGISTRY.

EQUIVALENCIA

ORIGINAL

LIABILITIES

2012

2011

2010

2009

2005

A) EQUITY:

4.367.443,00

4.219.704,00

4.142.101,00

4.025.202,00

3.546.449,00

I. Subscribed capital:

102.170,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

3.997.534,00

3.919.931,00

3.803.032,00

3.634.108,00

3.375.778,00

1. Legal reserve:

25.543,00

2. Reserves for own shares:

0,00

3. Reserves for shares of the controlling company:

0,00

4. Statutory reserves:

0,00

5. Miscellaneous reserves:

3.971.991,00

3.894.388,00

3.777.489,00

3.608.565,00

3.350.235,00

Differences due to capital adjustement to euros:

0,00

V. Profit or loss brought forward:

0,00

1. Retained earnings:

0,00

2. Prior year losses:

0,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

267.739,00

197.603,00

236.899,00

288.924,00

188.501,00

VII. Interim dividend paid:

0,00

-120.000,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

0,00

1. Capital grants:

0,00

2. Unrealised exchange gains:

0,00

3. Other deferred income:

0,00

4. Public revenues to distribute in several financial years:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

0,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

187.131,00

98.725,00

312.306,00

984.921,00

1.795.410,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

II. Amounts owed to credit institutions:

137.836,00

73.617,00

312.306,00

980.021,00

1.795.410,00

1. Loans and other liabilities:

137.836,00

73.617,00

312.306,00

939.602,00

1.795.410,00

2. Long-term liabilities from capital leases:

0,00

40.419,00

0,00

III. Debts with companies of the group and affiliated ones:

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

49.295,00

25.108,00

0,00

4.900,00

0,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

49.295,00

25.108,00

0,00

4.900,00

0,00

V. Unpaid portion of equity investment:

0,00

1. Group companies:

0,00

2. Associated companies:

0,00

3. Third parties:

0,00

VI. Long term trade creditors:

0,00

E) SHORT TERM CREDITORS:

15.538.269,00

12.546.577,00

11.040.743,00

8.843.738,00

6.773.267,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

4. Accrued interest on debentures and other debt securities:

0,00

II. Amounts owed to credit institutions:

11.450.682,00

9.736.739,00

7.647.448,00

6.347.966,00

4.805.775,00

1. Loans and other liabilities:

11.450.682,00

9.736.739,00

7.647.448,00

6.337.377,00

4.805.775,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

0,00

10.589,00

0,00

III. Short-term amounts owed to group and associated companies:

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

2.817.571,00

1.785.297,00

2.358.837,00

1.474.514,00

1.302.180,00

1. Advanced payments from customers:

0,00

2. Amounts owed for purchases of goods or services:

2.817.571,00

1.785.297,00

2.358.837,00

1.474.514,00

490.439,00

3. Debts represented by notes payable:

0,00

811.741,00

V. Other creditors:

1.270.016,00

1.024.541,00

1.034.458,00

1.021.258,00

665.312,00

1. Public bodies:

144.289,00

102.130,00

196.255,00

133.216,00

67.437,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

935.273,00

761.380,00

643.294,00

785.573,00

464.862,00

4. Wages and salaries payable:

190.454,00

161.031,00

194.909,00

102.469,00

133.013,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

20.092.843,00

16.865.006,00

15.495.150,00

13.853.861,00

12.115.126,00

MERCANTILE REGISTRY.

EQUIVALENCIA

ORIGINAL

DEBIT

2012

2011

2010

2009

2005

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

25.999.138,00

21.843.780,00

20.334.512,00

19.764.823,00

14.682.578,00

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

315.547,00

0,00

1.008.210,00

997.926,00

A.2. Supplies:

17.805.924,00

15.350.101,00

14.364.251,00

13.078.448,00

9.202.669,00

a) Stock consumption:

5.532.714,00

4.889.299,00

3.002.105,00

3.117.875,00

2.965.478,00

b) Consumption of raw materials and miscellaneous consumable ones:

12.273.210,00

10.460.802,00

11.362.146,00

9.960.573,00

6.237.191,00

c) Miscellaneous external expenditure:

0,00

A.3. Staff costs:

2.620.368,00

2.409.450,00

2.226.258,00

2.055.145,00

1.703.981,00

a) Wages, salaries et al.:

2.102.307,00

1.871.670,00

1.737.863,00

1.649.331,00

1.348.823,00

b) Social security costs:

518.061,00

537.780,00

488.395,00

405.814,00

355.158,00

A.4. Depreciation expense:

566.868,00

523.956,00

507.402,00

503.662,00

279.619,00

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

0,00

-24.697,00

a) Stock provision variation:

0,00

b) Variation in provision and bad debt losses:

0,00

-24.697,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

3.640.758,00

3.060.163,00

2.906.727,00

2.537.520,00

1.736.715,00

a) External services:

3.545.020,00

2.949.229,00

2.865.757,00

2.505.204,00

1.718.259,00

b) Taxes:

95.738,00

110.934,00

40.970,00

32.316,00

18.456,00

c) Other operating expenses:

0,00

d) Allocation to revision fund:

0,00

A.I. OPERATING BENEFITS (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6):

1.319.624,00

651.491,00

394.386,00

802.223,00

536.071,00

A.7. Financial and similar charges:

649.798,00

345.951,00

229.016,00

383.183,00

197.415,00

a) Due to liabilities with companies of the group:

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

649.798,00

345.951,00

229.016,00

383.183,00

197.415,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

254.975,00

69.472,00

0,00

78.128,00

485.383,00

A.II. NET FINANCIAL INCOME (B.5+B.6+B.7+B.8-A.7-A.8-A.9):

0,00

A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II):

412.639,00

237.644,00

337.757,00

393.509,00

277.481,00

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

0,00

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

0,00

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

0,00

A.13. Extraordinary expenses:

24.874,00

0,00

421,00

0,00

7.145,00

A.14. Expenses and losses of former financial years:

0,00

A.IV. EXTRAORDINARY PROFIT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14):

0,00

44.646,00

0,00

15.942,00

7.443,00

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

387.765,00

282.290,00

337.336,00

409.451,00

284.923,00

A.15. Corporation tax:

120.026,00

84.687,00

100.437,00

120.527,00

96.422,00

A.16. Miscellaneous taxes:

0,00

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

267.739,00

197.603,00

236.899,00

288.924,00

188.501,00

MERCANTILE REGISTRY.

EQUIVALENCIA

ORIGINAL

CREDIT

2012

2011

2010

2009

2005

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

26.266.877,00

22.041.383,00

20.571.411,00

20.053.747,00

14.871.080,00

B.1. Net total sales:

26.269.089,00

21.437.072,00

19.909.196,00

19.985.208,00

14.429.978,00

a) Sales:

26.269.089,00

21.437.072,00

19.909.196,00

19.985.208,00

14.429.978,00

b) Rendering of services:

0,00

Returns and Rappel on sales:

0,00

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

0,00

558.089,00

489.828,00

0,00

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

0,00

B.4. Miscellaneous operating income:

0,00

2.306,00

a) Auxiliary income and other from current management:

0,00

2.306,00

b) Grants:

0,00

c) Liabilities and charges provisions surplus:

0,00

B.I. PÉRDIDAS DE EXPLOTACIÓN (A.1+A.2+A.3+A.4+A.5-A.6-B.1-B.2-B.3-B.4):

0,00

B.5. Income from equity investment:

0,00

a) In companies of the group:

0,00

b) In associated companies:

0,00

c) Third parties:

0,00

B.6. Income from other marketable securities and long-term receivables:

0,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

B.7. Miscellaneous interests or similar income:

-2.212,00

1.576,00

167.966,00

52.597,00

1.828,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

-2.212,00

1.576,00

167.966,00

52.597,00

1.828,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

0,00

4.421,00

0,00

422.380,00

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

906.985,00

413.847,00

56.629,00

408.714,00

258.590,00

B.III. LOSSES ON ORDINARY ACTIVITIES ( B.I + B.II - A.I - A.II ):

0,00

B.9.Profit on disposal of both tangible and intangible fixed assets and securities portfolio:

0,00

B.10. Profit on transactions with own shares and debentures:

0,00

B.11. Capital grants transferred to profit and loss:

0,00

B.12. Extraordinary income:

0,00

44.646,00

0,00

15.942,00

14.588,00

B.13. Income and profit of former financial years:

0,00

B.IV. NEGATIVE EXTRAORDINARY RESULTS (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13):

24.874,00

0,00

421,00

0,00

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

0,00

B.VI. RESULT OF THE PERIOD (LOSSES) (B.V+A.15+A.16):

0,00

MERCANTILE REGISTRY.

CASHFLOW STATEMENT

Model: Normal

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

2012

2011

2010

2009

2005

1. Fiscal year result before taxes.: 61100

387.765,00

282.290,00

337.336,00

409.451,00

284.923,00

2. Results adjustments.: 61200

1.248.378,00

868.331,00

568.452,00

834.248,00

513.512,00

a) Fixed Assets Amortization (+).: 61201

566.868,00

523.956,00

507.402,00

503.662,00

279.619,00

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

0,00

-24.697,00

g) Financial income (-).: 61207

2.212,00

-1.576,00

-167.966,00

-52.597,00

-424.208,00

h) Financial Expenses (+). : 61208

649.798,00

345.951,00

229.016,00

383.183,00

682.798,00

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

29.500,00

0,00

3. Changes in current capital equity.: 61300

-1.590.214,00

-1.874.740,00

-1.124.052,00

1.800.851,00

-1.578.818,00

a) Stock (+/-).: 61301

-647.349,00

-1.435.770,00

-776.600,00

1.572.996,00

-1.242.837,00

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

-2.211.432,00

136.549,00

-1.240.075,00

-290.595,00

-182.956,00

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

-33.369,00

-17.170,00

0,00

-366.563,00

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

1.103.856,00

-701.543,00

1.039.802,00

232.017,00

213.538,00

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

173.893,00

118.086,00

-142.279,00

290.944,00

0,00

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

24.187,00

25.108,00

-4.900,00

-4.511,00

0,00

4. Other cash flows for operating activities.: 61400

-772.036,00

-429.062,00

-161.487,00

-451.113,00

-258.590,00

a) Interest payments (-). : 61401

-649.798,00

-345.951,00

-229.016,00

-383.183,00

-682.798,00

c) Interest collection (+). : 61403

-2.212,00

1.576,00

167.966,00

52.597,00

424.208,00

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

-120.026,00

-84.687,00

-100.437,00

-120.527,00

0,00

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

-726.107,00

-1.153.181,00

-379.751,00

2.593.437,00

-1.038.973,00

6. Payments for investment (-).: 62100

-457.290,00

-291.005,00

-209.479,00

-243.349,00

-617.546,00

a) Companies of the group and affiliates. : 62101

0,00

-140.800,00

b) Intangible fixed assets. : 62102

-61.215,00

-105,00

-35.675,00

-6.590,00

0,00

c) Fixed assets. : 62103

-324.890,00

-290.900,00

-169.804,00

-213.924,00

-476.746,00

e) Other financial assets. : 62105

-71.185,00

0,00

-4.000,00

-22.835,00

0,00

7. Divestment payment collection (+). : 62200

0,00

29.628,00

0,00

1.000,00

10.076,00

b) Intangible fixed assets. : 62202

0,00

10.076,00

c) Fixed assets. : 62203

0,00

29.628,00

0,00

1.000,00

0,00

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

-457.290,00

-261.377,00

-209.479,00

-242.349,00

-887.089,00

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

0,00

-145.746,00

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

0,00

3.736.278,00

0,00

b) Amortization of assets instruments (-). : 63102

0,00

-145.746,00

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

1.778.162,00

1.850.602,00

631.766,00

-2.251.475,00

834.051,00

a) Issuance : 63201

1.778.162,00

1.850.602,00

0,00

999.973,00

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

1.778.162,00

1.850.602,00

0,00

999.973,00

b) Repayment and amortization of : 63207

0,00

631.766,00

-2.251.475,00

-165.922,00

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

0,00

631.766,00

-2.251.475,00

-165.922,00

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

-120.000,00

-405,00

a) Dividends (-).: 63301

-120.000,00

-405,00

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

1.658.162,00

1.730.602,00

511.766,00

-2.371.475,00

687.900,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

474.765,00

316.044,00

-77.464,00

-20.387,00

-1.238.162,00

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

409.042,00

92.998,00

170.462,00

190.849,00

1.238.162,00

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

883.807,00

409.042,00

92.998,00

170.462,00

0,00

FINANCIAL DIAGNOSIS

> Economic-Financial Comparative Analysis

Data used in the following ratios and indicators is taken from the Annual Accounts submitted by the company to the TRADE REGISTER.

> Comparison within the Sector

Cash Flow

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,03 %

0,01 %

0,00 %

128,20 %

EBITDA over Sales:

7,18 %

9,19 %

5,48 %

10,07 %

30,97 %

-8,73 %

Cash Flow Yield:

0,04 %

0,00 %

0,02 %

0,00 %

134,72 %

Profitability

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

6,62 %

5,16 %

3,87 %

6,90 %

70,83 %

-25,25 %

Total economic profitability:

5,16 %

2,46 %

3,73 %

4,13 %

38,62 %

-40,35 %

Financial profitability:

6,13 %

1,25 %

4,68 %

5,86 %

30,91 %

-78,62 %

Margin:

5,02 %

4,80 %

3,04 %

6,36 %

65,30 %

-24,45 %

Mark-up:

1,57 %

1,53 %

1,11 %

4,71 %

41,70 %

-67,50 %

Solvency

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,06

0,12

0,03

0,11

74,46

8,75

Acid Test:

0,60

0,85

0,52

0,83

14,27

2,01

Working Capital / Investment:

0,08

0,03

0,07

0,03

10,35

2,49

Solvency:

1,10

1,17

1,10

1,17

0,53

0,75

Indebtedness

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

3,60

1,63

3,00

1,67

20,15

-2,21

Borrowing Composition:

0,01

1,02

0,01

1,05

53,04

-2,72

Repayment Ability:

17,79

197,34

40,01

891,27

-55,53

-77,86

Warranty:

1,28

1,62

1,33

1,61

-4,20

0,86

Generated resources / Total creditors:

0,05

0,07

0,06

0,07

-6,99

-4,29

Efficiency

2012

2011

Variación 2012 - 2011

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,72

1,49

1,75

15,60

-1,59

Turnover of Collection Rights :

3,15

4,79

3,50

4,45

-9,97

7,57

Turnover of Payment Entitlements:

6,70

3,52

9,26

3,26

-27,61

7,98

Stock rotation:

3,18

6,47

2,89

6,00

10,12

7,85

Assets turnover:

1,32

1,07

1,27

1,09

3,35

-1,05

Borrowing Cost:

4,13

2,95

2,74

2,92

51,04

1,21

> Trend of indicators under the General Accounting Plan of 2007 (2012, 2011, 2010, 2009, 2005)

Cash Flow

2012

2011

2010

2009

2005

Cash Flow over Sales:

0,03 %

0,01 %

0,00 %

0,01 %

-8,58 %

EBITDA over Sales:

7,18 %

5,48 %

4,53 %

6,53 %

5,48 %

Cash Flow Yield:

0,04 %

0,02 %

0,00 %

0,01 %

-10,22 %

Profitability

2012

2011

2010

2009

2005

Operating economic profitability:

6,62 %

3,87 %

2,55 %

5,80 %

4,48 %

Total economic profitability:

5,16 %

3,73 %

3,66 %

5,72 %

3,98 %

Financial profitability:

6,13 %

4,68 %

5,72 %

7,18 %

5,32 %

Margin:

5,02 %

3,04 %

1,98 %

4,01 %

3,71 %

Mark-up:

1,57 %

1,11 %

1,70 %

1,97 %

1,92 %

Solvency

2012

2011

2010

2009

2005

Liquidity:

0,06

0,03

0,01

0,02

0,00

Acid Test:

0,60

0,52

0,58

0,59

0,50

Working Capital / Investment:

0,08

0,07

0,10

0,19

Solvency:

1,10

1,15

1,33

Indebtedness

2012

2011

2010

2009

2005

Indebtedness level:

3,60

3,00

2,74

2,44

2,42

Borrowing Composition:

0,01

0,03

0,11

0,27

Repayment Ability:

17,79

40,01

-146,56

57,66

6,49

Warranty:

1,28

1,33

1,36

1,41

Generated resources / Total creditors:

0,05

0,06

0,07

0,08

-0,01

Efficiency

2012

2011

2010

2009

2005

Productivity:

1,72

1,49

1,41

1,64

1,46

Turnover of Collection Rights :

3,15

3,50

3,18

3,98

4,23

Turnover of Payment Entitlements:

6,70

9,26

6,46

8,54

9,17

Stock rotation:

3,18

2,89

3,39

3,86

2,66

Assets turnover:

1,32

1,27

1,29

1,45

1,21

Borrowing Cost:

4,13

2,74

2,02

3,90

2,30

COMPARATIVE SECTORIAL BALANCE

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

Variación -

Empresa

Sector

Variación -

Empresa

Sector

Variación -

Empresa

Sector

News

la verdad

11/11/2013

Un incendio calcina una nave de pimentón en Cabezo de Torres

Companies related

PROFEMUR SL

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Research Summary

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.29
UK Pound	1	Rs.93.02
Euro	1	Rs.67.36

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ANK

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Identification

Chronological Summary

Breakdown of Owners' Equity

Active Social Bodies

Historical Social Bodies

Executive board

Defaults, Legal Claims and Insolvency Proceedings

Probability of default

Recommended commercial credit

LEGAL CLAIMS

Link List

Turnover

Estimated Balance

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Research Summary

Unit