MIRA INFORM REPORT

Report No. :	320260
Report Date :	02.05.2015

IDENTIFICATION DETAILS

Name :	FRICATAMAR SOCIEDAD LIMITADA

Registered Office :	Pol Ind Cotes B C/ Carnissers, 7 Y 9. Algemesi, Valencia 46680

Country :	Spain

Financials (as on) :	31.12.2013

Date of Incorporation :	23.01.1980

Legal Form :	Not Available

Line of Business :	Subject has dedicated to process, elaboration and distribution of Frozen Fish

No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Insolvency Proceeding

Payment Behaviour :	--

Litigation :	--

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 Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 briefly 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 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 2010. Spain gradually reduced the deficit to just under 7% of GDP in 2013-14, 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 more than 97% in 2014. 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 January 2014. Recently increased private consumption helped bring real GDP growth back into positive territory at 1.3% in 2014, and labor reforms prompted a modest reduction in the unemployment rate, from more than 26% in 2013 to 24% in 2014. Despite the uptic in economic activity, inflation dropped sharply, from 1.5% in 2013 to flat in 2014. Spain’s 2015 budget, published in September 2014, rolls back some recently imposed taxes in advance of national elections in November 2015 and leaves untouched the country’s value-added tax (VAT) regime, which generates significantly lower revenue than the EU average. Spain’s borrowing costs are dramatically lower since their peak in mid-2012.

Source : CIA

EXECUTIVE SUMMARY

Name:

FRICATAMAR SOCIEDAD LIMITADA

NIF / Fiscal code:

B46139598

Status:

CREDITORS MEETING

Incorporation Date:

23/01/1980

Register Data

Last Publication in BORME:

18/03/2015 [Revocations]

Last Published Account Deposit:

2013

Share Capital:

Localization:

POL IND COTES B C/ CARNISSERS, 7 Y 9. - ALGEMESI - 46680 - VALENCIA

Telephone - Fax - Email - Website:

Telephone. 961 267 774 Email. fricatamar@fricatamar.com Website. www.fricatamar.com

Number of Branches

Activity:

NACE:

1022 - Preserving of fish

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

0 for a total cost of 0

Subsidies:

1 for a total cost of 32492.84

Quality Certificate:

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

---

Defaults on debt with Financial Institutions and Large Companies

436.940,4

---

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

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

PESCANOVA SA
Shares:	2
Other Links:	10
No. of Active Corporate Bodies:


Guarantees:
Properties Registered:	Company NO, Administrator NO
Financing / Guarantee Sources :	Sources YES, Guarantees YES


INVESTIGATION SUMMARY
Company created several years ago, dedicated to the production and marketing of frozen fish. It is recommended to monitor its evolution, due to their current situation of Declaration of Insolvency.

Identification

Social Denomination:

FRICATAMAR SOCIEDAD LIMITADA

NIF / Fiscal code:

B46139598

Corporate Status:

CREDITORS MEETING

Start of activity:

1981

Registered Office:

POL IND COTES B C/ CARNISSERS, 7 Y 9.

Locality:

ALGEMESI

Province:

VALENCIA

Postal Code:

46680

Telephone:

961 267 774

Fax:

963 160 211

Website:

www.fricatamar.com

Email:

fricatamar@fricatamar.com

Branch Offices

Address

Postal Code

City

Province

Fusters, S/N

46110

GODELLA

VALENCIA

Activity

NACE:

1022

Additional Information:

It is dedicated to the process, elaboration and distribution of frozen fish. It belongs to Grupo Pescanova. On 05/09/2014, it submitted a Declaration of Insolvency, before the Mercantile Court No. 1 of Pontevedra. On 20/03/2015, Proposition of Agreement, before the Mercantile Court No. 1 of Pontevedra. INSOLVENCY ADMINISTRATOR: - DELOITTE ADVISORY LIMITED COMPANY.

Additional Address:

POL IND COTES B C/ CARNISSERS, 7 Y 9. 46680 ALGEMESI (VALENCIA), registered office, cold storage units, warehouse, offices, warehouse, industrial unit, property. CNO VIEJO DE RUZAFA, 3 46470 CATARROJA (VALENCIA), factory.

Import / export:

EXPORTS

Future Perspective:

Face recession

Industry situation:

Maturity

Chronological Summary

Year

Act

1991

Appointments/ Re-elections (1)

1992

Accounts deposit (year 1991) Adaptation to Law (1) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

1993

Accounts deposit (year 1992) Appointments/ Re-elections (1)

1994

Accounts deposit (year 1993)

1995

Accounts deposit (year 1994)

1996

Accounts deposit (year 1995)

1997

Adaptation to Law (1) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

1998

Accounts deposit (year 1997) Change of Social address (1)

1999

Accounts deposit (year 1998) Appointments/ Re-elections (2)

2000

Accounts deposit (year 1999) Appointments/ Re-elections (1)

2001

Accounts deposit (year 2000)

2002

Accounts deposit (year 2001) Appointments/ Re-elections (2)

2003

Accounts deposit (year 2002)

2004

Accounts deposit (year 2003) Appointments/ Re-elections (1)

2005

Accounts deposit (year 2004)

2006

Accounts deposit (year 2005)

2007

Accounts deposit (year 2006) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2) Declaration of Sole Propietorship (1) Statutory Modifications (1)

2008

Accounts deposit (year 2007) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Take-over Merger (4)

2009

Accounts deposit (year 2008) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (1) Take-over Merger (1)

2010

Accounts deposit (year 2009) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2) Other Concepts/ Events (1)

2011

Accounts deposit (year 2010) Appointments/ Re-elections (1)

2012

Accounts deposit (year 2011) Appointments/ Re-elections (1)

2013

Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Change of Social address (1) Other Concepts/ Events (2) Statutory Modifications (1)

2014

Accounts deposit (year 2012, 2013) Appointments/ Re-elections (3) Banckruptcy (5) Cessations/ Resignations/ Reversals (3) Other Concepts/ Events (1)

2015

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

Breakdown of Owners' Equity

Registered Capital:

Paid up capital:

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

SINGLE PARTNER

NOVAPESCA TRADING SL

29/03/2007

BANKRUPTCY ADMINISTRATOR

DELOITTE ADVISORY SL

14/11/2014

COMBINED PROXY

ALONSO VIVES JOAQUIN RAMON

24/02/2009

ORTIZ FERRER RAFAEL

24/02/2009

PERPIÑA GUILLEM JUAN MIGUEL

24/02/2009

TURCI DOMINGO CARLOS

24/02/2009

NOVERGES ARNAL FRANCISCO

24/02/2009

ALONSO MORELLA JOSE FRANCISCO

24/02/2009

JOINT ATTORNEY

PERPIÑA GUILLEM JUAN MIGUEL

24/02/2009

ORTIZ FERRER RAFAEL

24/02/2009

REPRESENTATIVE

PERPIÑA GUILLEM JUAN MIGUEL

09/07/2014

ALONSO VIVES JOAQUIN RAMON

24/02/2009

ACCOUNTS' AUDITOR / HOLDER

ERNST & YOUNG SL

15/01/2015

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ALONSO MORELLA JOSE FRANCISCO

PROXY

24/02/2009

MEMBER OF THE BOARD

05/02/2013

PROXY

07/10/2014

ALONSO VIVES JOAQUIN

SINGLE ADMINISTRATOR

12/05/1992

SINGLE ADMINISTRATOR

20/06/1997

SINGLE ADMINISTRATOR

22/10/2007

ALONSO VIVES JOAQUIN RAMON

PROXY

05/09/2008

PROXY

24/02/2009

MEMBER OF THE BOARD

05/02/2013

JOINT CHIEF EXECUTIVE OFFICER

05/02/2013

PROXY

07/10/2014

ALONSO VIVES JOSE RAMON

PROXY

22/10/2007

PROXY

07/10/2014

BDO AUDIBERIA AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

12/06/2012

BDO AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

15/01/2015

ACCOUNTS' AUDITOR / HOLDER

22/04/2014

ACCOUNTS' AUDITOR / HOLDER

12/06/2012

CONGELACION DE PESCADOS CATARROJA SL

MEMBER OF THE BOARD

24/02/2009

EXCEL AUDITORS SOCIEDAD LIMITADA

ACCOUNTS' AUDITOR / HOLDER

22/03/2007

FERNANDEZ ANDRADE PABLO JAVIER

MEMBER OF THE BOARD

05/02/2013

FERNANDEZ DE SOUSA FARO MANUEL

REPRESENTATIVE

31/05/2013

PROXY

04/02/2014

FRIGODIS SA

MEMBER OF THE BOARD

26/10/2010

SECRETARY

26/10/2010

FRINOVA SA

MEMBER OF THE BOARD

23/11/2010

FRIVIPESCA CHAPELA SA

MEMBER OF THE BOARD

23/11/2010

JOINT CHIEF EXECUTIVE OFFICER

23/11/2010

GIL GONZALEZ JOSE MANUEL

COMBINED PROXY

07/10/2014

HURTADO IGLESIAS SANTIAGO

REPRESENTATIVE

09/07/2014

JOINT ATTORNEY

11/03/2015

LOPEZ UROZ ALFREDO

COMBINED PROXY

07/10/2014

MATA MORETON CESAR

SECRETARY

05/02/2013

MORA BELTRAN BARTOLOME

DEPUTY ACCOUNTS' AUDITOR

24/08/1999

NAVE DE ARGO SL

MEMBER OF THE BOARD

24/02/2009

JOINT CHIEF EXECUTIVE OFFICER

24/02/2009

NOVAPESCA TRADING SL

MEMBER OF THE BOARD

23/11/2010

PRESIDENT

23/11/2010

NOVERGES ARNAL FRANCISCO

PROXY

05/09/2008

PROXY

24/02/2009

PROXY

07/10/2014

PERPIÑA GUILLEM JUAN MIGUEL

MEMBER OF THE BOARD

05/02/2013

JOINT CHIEF EXECUTIVE OFFICER

05/02/2013

PESCAFINA SA

MEMBER OF THE BOARD

23/11/2010

JOINT CHIEF EXECUTIVE OFFICER

23/11/2010

PESCANOVA ALIMENTACION SA

JOINT CHIEF EXECUTIVE OFFICER

23/11/2010

MEMBER OF THE BOARD

23/11/2010

MEMBER OF THE BOARD

09/09/2008

JOINT CHIEF EXECUTIVE OFFICER

09/09/2008

PESCANOVA SA

SINGLE ADMINISTRATOR

14/11/2014

PESQUERA PLAZAOLA IGNACIO

REPRESENTATIVE

24/02/2009

PESQUEROS DE ALTURA SA

MEMBER OF THE BOARD

12/11/2008

JOINT CHIEF EXECUTIVE OFFICER

12/11/2008

PEZ AUSTRAL SA

MEMBER OF THE BOARD

12/11/2008

PISCICOLA DE SAGUNTO SL

MEMBER OF THE BOARD

26/10/2010

REBOREDA BARCIA JUAN RAMON

COMBINED PROXY

07/10/2014

SEVILLA BLASCO EUGENIO

ACCOUNTS' AUDITOR / HOLDER

21/07/2009

DEPUTY ACCOUNTS' AUDITOR

07/11/2000

DEPUTY ACCOUNTS' AUDITOR

09/01/2002

DEPUTY ACCOUNTS' AUDITOR

22/11/2002

DEPUTY ACCOUNTS' AUDITOR

04/02/2004

TABOAS MOURE ANTONIO

COMBINED PROXY

07/10/2014

TOUZA TOURIÑO SENEN

JOINT ATTORNEY

11/03/2015

TURCI DOMINGO CARLOS

MEMBER OF THE BOARD

05/02/2013

PROXY

05/09/2008

PROXY

24/02/2009

PROXY

07/10/2014

PRESIDENT

05/02/2013

VALERO CEACERO JOSE

ACCOUNTS' AUDITOR / HOLDER

24/08/1999

ACCOUNTS' AUDITOR / HOLDER

07/11/2000

ACCOUNTS' AUDITOR / HOLDER

09/01/2002

ACCOUNTS' AUDITOR / HOLDER

22/11/2002

ACCOUNTS' AUDITOR / HOLDER

04/02/2004

ACCOUNTS' AUDITOR / HOLDER

21/07/2009

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

---

Request/Declaration

---

date

Proceedings

---

Resolution

---

Defaults on debt with Financial Institutions and Large Companies

Bank and Commercial Delinquency

24/05/2013

28/04/2015

Status: Friendly

---

Status: Pre-Litigation

---

Status: Litigation

224508.42

24/05/2013

24/06/2013

Status: Non-performing

212431.98

25/05/2013

Status: insolvency proceedings, bankruptcy and suspension of payments

---

Other status

---

Legal and Administrative Proceedings

---

03/03/2015

Notices of defaults and enforcement

---

Seizures

---

Auctions

---

Declarations of insolvency and bad debt

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

> Details

IMPAGOS EN ENTIDADES FINANCIERAS Y GRANDES EMPRESAS

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

50.00% of contract defaults, which represent 48.62% of the amount, have been declared bad debts by the creditor on the basis of unlikely recovery.

The total unpaid amount registered with ASNEF Empresas is the maximum one among all of this debtor's reported defaults available.

Indicate that the total unpaid amount involve contracts with the financial system.

Highlight that the Company has payment defaults older than twelve months.

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

Type of creditor

Product

Value of transactions (_)

Status

No. of defaults

Default balance (_)

Date of first default

Date of last default

COOPERATIVAS DE CREDITO

Otros

---

Judicial

---

224508.42

24/05/13

24/06/13

COOPERATIVAS DE CREDITO

Avales y garantías

---

Fallido

212431.98

25/05/13

436.940,4

Legal Notice:

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

Scoring Axesor

> Basis for scoring

Positive Factors

Adverse Factors

A Declaration of Insolvency Proceedings or a similar declaration has been published in the Official Gazettes due to inability to meet enforceable obligations regularly. The Insolvency proceedings open with a period of intervention in the entity's administration that involves managing the assets and determining the list of creditors and credits, and will conclude with the Arrangement/Entity's Liquidation phase.

It has been found to have irregular payment performance at the credit bureaus and has not paid all of its debts in a timely manner.

FRICATAMAR SOCIEDAD LIMITADA it presents an excessive indebtedness that may compromise their balance sheet.

The current debt represents a 90.43% 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.

Probability of default

> Estimated Probability of Default for the next 12 months: 100 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

102 Processing and preserving of fish, crustaceans and molluscs

Relative Position:

Credit quality is inferior 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 worse position with regard to the probability of non-compliance.

The 1.00% of the companies of the sector FRICATAMAR SOCIEDAD LIMITADA belongs to shows a lower probability of non-compliance.

Our internal register a 100% default probability for the company. In this case, the seriousness of the loss will depend on factors such as the promptness of collection actions, the existence of executive documents that support the credit or the existence of guarantees or assets free of debt under the debtor's name. Therefore, the probability of default should not only be 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)

1 Incidence for a total cost of 0,00 E

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

1 Incidence 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

Proceedings before the Industrial Tribunal

No se han publicado

Incidences Detailed

Incidences with the Local Administration

PROCESSED BY THE LOCAL GOVERNMENT DE GODELLA (VALENCIA) - Date 03/03/2015

Last Published Stage:

EXECUTION NOTIFICATION

Amount of the incidence:

0,00 E

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.P. VALENCIA Nº54, 2015 PAGINA 120

Legal Proceedings (Bankruptcy Law 22/2003)

BEFORE THE MERCANTILE COURT Nº 1 DE PONTEVEDRA - Date 20/03/2015

Last Published Stage:

PROPOSAL FOR AN AGREEMENT

Record Number:

267/2014

Amount of the incidence:

0,00 E

Published domicile:

ALGEMESI (VALENCIA)

Source:

PRENSA OTROS (20/03/2015) PAGINA 1

Previous Published Stages:

AGREEMENT STAGE OPENING :

JUZGADO DE LO MERCANTIL

PRENSA OTROS (05/09/2014) PAGINA 1

STATEMENT OF VOLUNTARY CONTEST :

B.O.E. Nº226, 2014 PAGINA 43488

PRE-BANKRUPTCY SITUATION :

PRENSA OTROS (16/06/2014) PAGINA 1

Link List

ABSORBS TO:

1 Entities

HAS IN ITS ADMINISTRATION BOARD TO:

1 Entities

IS RELATED WITH:

8 Entities

PARTICIPATES IN:

2 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

PESCANOVA SA

PONTEVEDRA

PARTICIPATES IN

ABAD EXIM PVT, SOCIEDAD ANONIMA, COCHIN (INDIA)

ABAD OVERSEAS PVT LTDAVIZAG (INDIA)

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

| |

BAJAMAR SEPTIMA SA

LA CORUÑA

ARGENOVA SL

PONTEVEDRA

KRUSTANORD SA

SALAMANCA

PESCANIVA POLSKA

PESCANOVA PORTUGAL

IS RELATED WITH

FRIVIPESCA CHAPELA SA

PONTEVEDRA

FRINOVA SA

PONTEVEDRA

PESCAFINA SA

MADRID

ABSORBS TO

CONGELACION DE PESCADOS CATARROJA S L

VALENCIA

HAS IN ITS ADMINISTRATION BOARD TO

DELOITTE ADVISORY SL

MADRID

Turnover

Total Sales

36.749.098,39

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

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2013

Normales

September 2014

2012

Normales

April 2014

2011

Normales

June 2012

2010

Normales

June 2011

2009

Normales

June 2010

2008

Normales

September 2009

2007

Normales

June 2008

2006

Normales

August 2007

2005

Normales

August 2006

2004

Normales

September 2005

2003

Normales

September 2004

2002

Normales

September 2003

2001

Normales

September 2002

2000

Normales

August 2001

1999

Normales

September 2000

1998

Normales

August 1999

1997

Normales

October 1998

1995

Normales

September 1996

1994

Normales

July 1995

1993

Normales

September 1994

1992

Normales

July 1993

1991

Normales

July 1992

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

> Normal format Balance in accordance with the New Accounting Plan 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, axesor created such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2013

2012

2011

2010

2009

A) NON-CURRENT ASSETS: 11000

6.554.465,00

10.391.443,00

11.000.994,00

11.677.919,00

11.568.906,00

I. Intangible fixed assets : 11100

6.203,00

6.493,00

6.784,00

7.075,00

0,00

1. Development: 11110

0,00

-117.000,00

0,00

-117.000,00

2. Concessions: 11120

0,00

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

0,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

6.203,00

6.493,00

6.784,00

7.075,00

0,00

6. Investigation: 11160

0,00

117.000,00

0,00

117.000,00

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

4.987.098,00

9.631.326,00

10.240.586,00

10.886.000,00

10.786.668,00

1. Land and buildings: 11210

2.502.734,00

2.557.436,00

2.612.137,00

2.666.839,00

2.721.540,00

2. Technical installations and other tangible fixed assets: 11220

2.484.364,00

7.073.890,00

7.628.449,00

8.215.382,00

8.064.048,00

3. Tangible asset in progress and advances: 11230

0,00

3.780,00

1.080,00

III. Real estate investment: 11300

887.033,00

0,00

1. Land: 11310

429.007,00

0,00

2. Buildings: 11320

458.026,00

0,00

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

0,00

1. Equity instruments: 11410

0,00

2. Credits to businesses: 11420

0,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

6. Other investments: 11460

0,00

V. Long-term financial investments: 11500

674.131,00

753.624,00

784.844,00

782.239,00

1. Equity instruments: 11510

577.491,00

748.984,00

778.984,00

2. Credits to third parties : 11520

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

96.640,00

4.640,00

5.860,00

3.255,00

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

19.729.558,00

49.040.813,00

45.198.201,00

34.978.666,00

32.990.807,00

I. Non-current assets held for sale : 12100

0,00

854.570,00

777.140,00

469.381,00

II. Stocks: 12200

9.203.855,00

13.653.180,00

12.944.629,00

11.837.132,00

5.067.907,00

1. Commercial: 12210

7.206.559,00

9.011.677,00

6.951.185,00

7.374.708,00

3.722.001,00

2. Primary material and other supplies: 12220

1.920.071,00

4.316.565,00

5.363.653,00

4.283.114,00

1.345.906,00

3. Work in progress: 12230

0,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

0,00

4. Finished goods: 12240

0,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

0,00

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

0,00

6. Advances to suppliers: 12260

77.225,00

324.938,00

629.791,00

179.310,00

0,00

III. Trade debtors and others receivable accounts: 12300

8.245.989,00

15.282.819,00

19.244.492,00

12.148.031,00

18.973.160,00

1. Trade debtors / accounts receivable: 12310

6.225.536,00

5.891.072,00

14.337.354,00

8.337.860,00

5.658.841,00

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

0,00

b) Customers for sales and provisions of services : 12312

6.225.536,00

5.891.072,00

14.337.354,00

8.337.860,00

5.658.841,00

2. Customers, Group companies and associates : 12320

564.012,00

7.512.783,00

3.067.695,00

2.209.359,00

12.578.737,00

3. Other accounts receivable: 12330

27.378,00

10.298,00

9.542,00

11.312,00

3.467,00

4. Personnel: 12340

0,00

133,00

185,00

5. Assets for deferred tax: 12350

14.710,00

10.993,00

0,00

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

1.414.354,00

1.857.671,00

1.829.901,00

1.589.366,00

731.931,00

7. Called up share capital: 12370

0,00

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

38.022,00

18.026.122,00

10.964.977,00

9.563.403,00

7.239.645,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

38.022,00

18.026.122,00

10.964.977,00

9.563.403,00

7.239.645,00

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

234.960,00

158.023,00

131.955,00

93.251,00

173.643,00

1. Equity instruments: 12510

33.305,00

32.370,00

2.057,00

3.048,00

2. Credits to businesses: 12520

34.523,00

0,00

3.572,00

0,00

3. Debt securities: 12530

0,00

60.000,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

167.131,00

124.718,00

96.013,00

27.622,00

110.595,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

28.865,00

6.898,00

12.330,00

23.235,00

7.864,00

VII. Cash and other equivalent liquid assets : 12700

1.977.867,00

1.059.201,00

1.045.249,00

536.475,00

1.059.207,00

1. Treasury: 12710

1.977.867,00

1.059.201,00

1.045.249,00

536.475,00

1.059.207,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

26.284.023,00

59.432.256,00

56.199.196,00

46.656.585,00

44.559.713,00

ORIGINAL

Liabilities and Net Worth

2013

2012

2011

2010

2009

A) NET WORTH: 20000

2.393.073,00

24.716.125,00

23.912.933,00

22.376.956,00

21.850.331,00

A-1) Shareholders' equity: 21000

2.393.073,00

24.716.125,00

23.912.933,00

22.376.956,00

21.850.331,00

I. Capital: 21100

60.100,00

1. Registered capital : 21110

60.100,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

12.005.747,00

23.852.833,00

22.316.856,00

21.790.231,00

18.832.667,00

1. Legal and statutory: 21310

12.020,00

2. Other reserves: 21320

11.993.727,00

23.840.813,00

22.304.836,00

21.778.211,00

18.820.647,00

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

-9.672.774,00

803.191,00

1.535.977,00

526.625,00

2.957.563,00

VIII. (Interim dividend): 21800

0,00

IX. Other net worth instruments: 21900

0,00

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

0,00

I. Financial assets held for sale: 22100

0,00

II. Hedge operations: 22200

0,00

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

0,00

IV. Exchange rate difference: 22400

0,00

V. Other: 22500

0,00

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

0,00

B) NON-CURRENT LIABILITIES: 31000

122.403,00

242.328,00

1.342.124,00

2.670.993,00

3.737.994,00

I. Long-term provisions: 31100

103.398,00

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

103.398,00

0,00

II Long-term creditors: 31200

19.005,00

242.328,00

1.342.124,00

2.670.993,00

3.737.994,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

0,00

225.323,00

1.118.539,00

2.035.144,00

2.907.828,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

19.005,00

17.005,00

223.586,00

635.849,00

830.166,00

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

0,00

IV. Liabilities for deferred tax: 31400

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

23.768.546,00

34.473.803,00

30.944.138,00

21.608.636,00

18.971.388,00

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

10.920.245,00

6.586.043,00

4.811.870,00

3.021.258,00

4.294.439,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

10.920.245,00

6.579.403,00

4.601.696,00

3.021.258,00

3.298.035,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

0,00

6.640,00

210.174,00

0,00

996.404,00

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

1.822.593,00

1.196.310,00

2.573.779,00

1.934.872,00

1.709.175,00

V. Trade creditors and other accounts payable: 32500

11.025.708,00

26.691.451,00

23.558.489,00

16.652.506,00

12.967.774,00

1. Suppliers: 32510

1.853.154,00

8.129.060,00

5.405.869,00

8.058.578,00

7.375.496,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

1.853.154,00

8.129.060,00

5.405.869,00

8.058.578,00

7.375.496,00

2. Suppliers, Group companies and associates: 32520

7.592.298,00

16.755.660,00

16.703.107,00

6.907.074,00

3.756.340,00

3. Other creditors: 32530

256.109,00

1.342.923,00

1.322.026,00

1.553.496,00

1.702.884,00

4. Personnel (remuneration due): 32540

6.588,00

3.982,00

6.273,00

1.939,00

2.417,00

5. Liabilities for current tax: 32550

1.204.101,00

333.231,00

0,00

6. Other accounts payable to Public Administrations.: 32560

113.459,00

126.595,00

121.215,00

131.419,00

130.638,00

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

26.284.023,00

59.432.256,00

56.199.196,00

46.656.585,00

44.559.713,00

ORIGINAL

Profit and Loss

2013

2012

2011

2010

2009

1. Net turnover: 40100

36.749.098,00

59.507.885,00

69.698.553,00

56.736.267,00

68.643.575,00

a) Sales: 40110

35.779.647,00

58.391.412,00

68.192.404,00

56.316.629,00

68.642.726,00

b) Rendering of services: 40120

969.452,00

1.116.473,00

1.506.149,00

419.637,00

849,00

c) Income of financial nature of holding companies: 40130

0,00

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

0,00

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

0,00

4. Supplies : 40400

-31.274.389,00

-52.635.963,00

-59.732.162,00

-49.365.891,00

-57.485.732,00

a) Stock consumption: 40410

-30.089.947,00

-51.347.917,00

-58.360.187,00

-47.478.196,00

-54.651.650,00

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

-900.746,00

-1.046.743,00

-1.014.483,00

-1.559.673,00

-2.078.247,00

c) Works carried out by other companies: 40430

-167.998,00

-241.303,00

-357.493,00

-328.021,00

-755.834,00

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

-115.698,00

0,00

5. Other operating income: 40500

78.050,00

57.970,00

33.992,00

35.428,00

35.268,00

a) Auxiliary income and other from current management: 40510

77.428,00

52.928,00

33.992,00

35.428,00

35.268,00

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

622,00

5.042,00

0,00

6. Personnel costs: 40600

-2.737.607,00

-2.959.801,00

-3.102.792,00

-3.212.111,00

-3.323.068,00

a) Wages, salaries et al.: 40610

-2.206.883,00

-2.432.123,00

-2.527.686,00

-2.581.126,00

-2.640.639,00

b) Social security costs: 40620

-525.590,00

-519.958,00

-570.337,00

-626.368,00

-678.271,00

c) Provisions : 40630

-5.134,00

-7.720,00

-4.769,00

-4.618,00

-4.158,00

7. Other operating costs: 40700

-7.042.375,00

-2.637.316,00

-3.618.614,00

-2.685.270,00

-2.981.409,00

a) External services: 40710

-2.124.165,00

-2.581.667,00

-3.548.361,00

-2.631.146,00

-2.789.922,00

b) Taxes: 40720

-162.918,00

-55.649,00

-70.253,00

-54.124,00

-28.702,00

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

-4.755.292,00

0,00

-162.785,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-615.238,00

-660.278,00

-702.245,00

-557.411,00

-672.962,00

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

1.000,00

5.316,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

0,00

1.000,00

5.316,00

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

0,00

7.516,00

4.271,00

25.828,00

3.417,00

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

-4.842.460,00

680.013,00

2.581.003,00

977.841,00

4.224.407,00

14. Financial income : 41400

4.712,00

838.554,00

417.608,00

320.074,00

345.259,00

a) Of shares in equity instruments : 41410

0,00

1,00

602,00

1.187,00

879,00

a 1) In Group companies and associates: 41411

0,00

a 2) In third parties: 41412

0,00

1,00

602,00

1.187,00

879,00

b) From negotiable securities and other financial instruments : 41420

4.712,00

838.554,00

417.006,00

318.886,00

344.380,00

b 1) From Group companies and associates : 41421

0,00

819.954,00

388.704,00

292.422,00

249.623,00

b 2) From third parties : 41422

4.712,00

18.600,00

28.302,00

26.464,00

94.757,00

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

0,00

15. Financial expenditure: 41500

-752.193,00

-658.778,00

-602.298,00

-367.154,00

-278.488,00

a) Amounts owed to Group companies and associates : 41510

-22.593,00

0,00

b) For debts with third parties : 41520

-729.600,00

-658.778,00

-602.298,00

-367.154,00

-278.488,00

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

88.661,00

287.658,00

-202.061,00

-178.439,00

-66.087,00

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

-4.171.493,00

-32,00

1,00

0,00

a) Impairment and losses : 41810

-4.171.493,00

0,00

b) Results for transfers and other : 41820

0,00

-32,00

1,00

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

-4.830.314,00

467.403,00

-386.750,00

-225.519,00

684,00

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

-9.672.774,00

1.147.416,00

2.194.253,00

752.322,00

4.225.090,00

20. Income taxes: 41900

0,00

-344.225,00

-658.276,00

-225.696,00

-1.267.527,00

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

-9.672.774,00

803.191,00

1.535.977,00

526.625,00

2.957.563,00

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

0,00

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

-9.672.774,00

803.191,00

1.535.977,00

526.625,00

2.957.563,00

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

Information corresponding to the fiscal year 2013 2012 2011 2010 2009 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria, Axesor created such criteria using its own methodology. To view details on the methodology 2013 2012 2011 2010 2009 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2013

2012

2011

2010

2009

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

6.554.465,00

11.246.013,00

11.855.564,00

12.455.058,00

12.038.287,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

6.203,00

6.493,00

6.784,00

7.075,00

0,00

1. Research and development costs:

0,00

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

0,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

5. Software:

6.203,00

6.493,00

6.784,00

7.075,00

0,00

6. Assets under capital leases:

0,00

7. Payments on account:

0,00

8. Provisions:

0,00

9. Accumulated depreciation:

0,00

III. Tangible fixed assets:

5.874.131,00

10.485.895,00

11.095.155,00

11.663.140,00

11.256.049,00

1. Land and construction:

3.389.767,00

3.412.005,00

3.466.707,00

3.443.978,00

3.190.921,00

2. Technical installations and machinery:

1.945.439,00

5.539.373,00

5.973.633,00

6.433.245,00

6.314.739,00

3. Other installations, tools and furniture:

192.272,00

547.470,00

590.389,00

635.813,00

624.101,00

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

0,00

3.780,00

1.080,00

5. Other tangible assets:

346.653,00

987.047,00

1.064.427,00

1.146.324,00

1.125.208,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

674.131,00

753.624,00

784.844,00

782.239,00

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. Long-term securities portfolio:

577.491,00

748.984,00

778.984,00

6. Other receivables:

0,00

7. Long term guarantees and deposits:

96.640,00

4.640,00

5.860,00

3.255,00

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:

19.729.558,00

48.186.243,00

44.343.632,00

34.201.526,00

32.521.426,00

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

0,00

II. Stocks:

9.203.855,00

13.653.180,00

12.944.629,00

11.837.132,00

5.067.907,00

1. Goods for resale:

7.206.559,00

9.011.677,00

6.951.185,00

7.374.708,00

3.722.001,00

2. Raw materials and other consumables:

1.920.071,00

4.316.565,00

5.363.653,00

4.283.114,00

1.345.906,00

3. Goods in process and semifinished ones:

0,00

4. Finished products:

0,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

77.225,00

324.938,00

629.791,00

179.310,00

0,00

7. Provisions:

0,00

III. Debtors:

8.245.989,00

15.282.819,00

19.244.492,00

12.148.031,00

18.973.160,00

1. Trade debtors / accounts receivable:

6.225.536,00

5.891.072,00

14.337.354,00

8.337.860,00

5.658.841,00

2. Accounts receivable, Group companies:

564.012,00

7.512.783,00

3.067.695,00

2.209.359,00

12.578.737,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

27.378,00

10.298,00

9.542,00

11.312,00

3.467,00

5. Staff:

0,00

133,00

185,00

6. Public bodies:

1.429.063,00

1.868.664,00

1.829.901,00

1.589.366,00

731.931,00

7. Provisions:

0,00

IV. Short-term investments:

272.982,00

18.184.145,00

11.096.932,00

9.656.653,00

7.413.288,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

38.022,00

18.026.122,00

10.964.977,00

9.563.403,00

7.239.645,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

33.305,00

32.370,00

62.057,00

63.048,00

6. Other receivables:

34.523,00

0,00

3.572,00

0,00

7. Shor term guarantees and deposits:

167.131,00

124.718,00

96.013,00

27.622,00

110.595,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

1.977.867,00

1.059.201,00

1.045.249,00

536.475,00

1.059.207,00

VII. Prepayments and accrued income:

28.865,00

6.898,00

12.330,00

23.235,00

7.864,00

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

26.284.023,00

59.432.256,00

56.199.196,00

46.656.585,00

44.559.713,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2013

2012

2011

2010

2009

A) EQUITY:

2.393.073,00

24.716.125,00

23.912.933,00

22.376.956,00

21.850.331,00

I. Subscribed capital:

60.100,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

12.005.747,00

23.852.833,00

22.316.856,00

21.790.231,00

18.832.667,00

1. Legal reserve:

12.020,00

2. Reserves for own shares:

0,00

3. Reserves for shares of the controlling company:

0,00

4. Statutory reserves:

0,00

5. Miscellaneous reserves:

11.993.726,00

23.840.811,00

22.304.834,00

21.778.209,00

18.820.646,00

Differences due to capital adjustement to euros:

1,00

2,00

1,00

V. Profit or loss brought forward:

0,00

1. Retained earnings:

0,00

2. Prior year losses:

0,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

-9.672.774,00

803.191,00

1.535.977,00

526.625,00

2.957.563,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

0,00

1. Capital grants:

0,00

2. Unrealised exchange gains:

0,00

3. Other deferred income:

0,00

4. Public revenues to distribute in several financial years:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

103.398,00

0,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

103.398,00

0,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

19.005,00

242.328,00

1.342.124,00

2.670.993,00

3.737.994,00

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:

0,00

225.323,00

1.118.539,00

2.035.144,00

2.907.828,00

1. Loans and other liabilities:

0,00

225.323,00

1.118.539,00

2.035.144,00

2.907.828,00

2. Long-term liabilities from capital leases:

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:

19.005,00

17.005,00

223.586,00

635.849,00

830.166,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

3. Long term guarantees and deposits received:

19.005,00

17.005,00

223.586,00

635.849,00

830.166,00

4. Long term payables to public bodies:

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:

23.768.546,00

34.473.803,00

30.944.138,00

21.608.636,00

18.971.388,00

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:

10.920.245,00

6.579.403,00

4.601.696,00

3.021.258,00

3.298.035,00

1. Loans and other liabilities:

10.920.245,00

6.579.403,00

4.601.696,00

3.021.258,00

3.298.035,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

0,00

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

9.414.891,00

17.951.969,00

19.276.886,00

8.841.946,00

5.465.515,00

1. Amounts owed to group companies:

9.414.891,00

17.951.969,00

19.276.886,00

8.841.946,00

5.465.515,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

2.109.263,00

9.471.983,00

6.727.895,00

9.612.074,00

9.078.379,00

1. Advanced payments from customers:

0,00

2. Amounts owed for purchases of goods or services:

2.109.263,00

9.471.983,00

6.727.895,00

9.612.074,00

9.078.379,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

1.324.147,00

470.448,00

337.661,00

133.357,00

1.129.458,00

1. Public bodies:

1.317.560,00

459.826,00

121.215,00

131.419,00

130.638,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

0,00

6.640,00

210.174,00

0,00

996.404,00

4. Wages and salaries payable:

6.588,00

3.982,00

6.273,00

1.939,00

2.417,00

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):

26.284.023,00

59.432.256,00

56.199.196,00

46.656.585,00

44.559.713,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2013

2012

2011

2010

2009

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

46.593.295,00

59.896.392,00

68.618.447,00

56.591.972,00

66.075.272,00

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

0,00

A.2. Supplies:

31.158.691,00

52.635.963,00

59.732.162,00

49.365.891,00

57.485.732,00

a) Stock consumption:

30.089.947,00

51.347.917,00

58.360.187,00

47.478.196,00

54.651.650,00

b) Consumption of raw materials and miscellaneous consumable ones:

900.746,00

1.046.743,00

1.014.483,00

1.559.673,00

2.078.247,00

c) Miscellaneous external expenditure:

167.998,00

241.303,00

357.493,00

328.021,00

755.834,00

A.3. Staff costs:

2.737.607,00

2.959.801,00

3.102.792,00

3.212.111,00

3.323.068,00

a) Wages, salaries et al.:

2.212.017,00

2.439.843,00

2.532.455,00

2.585.743,00

2.644.797,00

b) Social security costs:

525.590,00

519.958,00

570.337,00

626.368,00

678.271,00

A.4. Depreciation expense:

615.238,00

660.278,00

702.245,00

557.411,00

672.962,00

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

4.870.990,00

0,00

162.785,00

a) Stock provision variation:

115.698,00

0,00

b) Variation in provision and bad debt losses:

0,00

162.785,00

c) Variation of other trade provisions:

4.755.292,00

0,00

A.6. Other operating charges:

2.287.083,00

2.637.316,00

3.618.614,00

2.685.270,00

2.818.624,00

a) External services:

2.124.165,00

2.581.667,00

3.548.361,00

2.631.146,00

2.789.922,00

b) Taxes:

162.918,00

55.649,00

70.253,00

54.124,00

28.702,00

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):

0,00

672.498,00

2.576.733,00

951.012,00

4.215.673,00

A.7. Financial and similar charges:

4.923.687,00

658.810,00

602.298,00

367.154,00

278.488,00

a) Due to liabilities with companies of the group:

22.593,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

729.600,00

658.778,00

602.298,00

367.154,00

278.488,00

d) Losses from financial investments:

4.171.493,00

32,00

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

0,00

202.061,00

178.439,00

66.087,00

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

0,00

467.403,00

0,00

684,00

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

0,00

1.139.901,00

2.189.983,00

725.493,00

4.216.357,00

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:

0,00

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

0,00

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

0,00

7.516,00

4.271,00

26.828,00

8.733,00

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

0,00

1.147.416,00

2.194.253,00

752.322,00

4.225.090,00

A.15. Corporation tax:

0,00

344.225,00

658.276,00

225.696,00

1.267.527,00

A.16. Miscellaneous taxes:

0,00

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

0,00

803.191,00

1.535.977,00

526.625,00

2.957.563,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2013

2012

2011

2010

2009

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

36.920.521,00

60.699.583,00

70.154.425,00

57.118.597,00

69.032.836,00

B.1. Net total sales:

36.749.098,00

59.507.885,00

69.698.553,00

56.736.267,00

68.643.575,00

a) Sales:

36.770.447,00

60.008.371,00

70.080.769,00

57.876.134,00

70.543.562,00

b) Rendering of services:

969.452,00

1.116.473,00

1.506.149,00

419.637,00

849,00

Returns and Rappel on sales:

-990.800,00

-1.616.959,00

-1.888.365,00

-1.559.504,00

-1.900.835,00

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

0,00

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

0,00

B.4. Miscellaneous operating income:

78.050,00

57.970,00

33.992,00

35.428,00

35.268,00

a) Auxiliary income and other from current management:

77.428,00

52.928,00

33.992,00

35.428,00

35.268,00

b) Grants:

622,00

5.042,00

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):

4.842.460,00

0,00

B.5. Income from equity investment:

0,00

1,00

602,00

1.187,00

879,00

a) In companies of the group:

0,00

b) In associated companies:

0,00

c) Third parties:

0,00

1,00

602,00

1.187,00

879,00

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

956,00

3.775,00

5.744,00

5.371,00

19.231,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

956,00

3.775,00

5.744,00

5.371,00

19.231,00

B.7. Miscellaneous interests or similar income:

3.756,00

834.779,00

411.264,00

313.516,00

325.149,00

a) From companies of the group:

0,00

819.954,00

388.704,00

292.422,00

249.623,00

b) From associated companies:

0,00

c) Miscellaneous interests:

3.756,00

14.825,00

22.558,00

21.094,00

75.526,00

d) Profit on financial investment:

0,00

1,00

0,00

B.8. Exchange positive differences:

88.661,00

287.658,00

0,00

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

4.830.314,00

0,00

386.750,00

225.519,00

0,00

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

9.672.774,00

0,00

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

0,00

1.000,00

5.316,00

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

7.516,00

4.271,00

25.828,00

3.417,00

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):

0,00

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

9.672.774,00

0,00

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

9.672.774,00

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

-9.672.774,00

1.147.416,00

2.194.253,00

752.322,00

4.225.090,00

2. Results adjustments.: 61200

10.425.072,00

192.875,00

1.088.994,00

781.930,00

791.962,00

a) Fixed Assets Amortization (+).: 61201

615.238,00

660.278,00

702.245,00

557.411,00

672.962,00

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

9.042.482,00

0,00

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

0,00

125.000,00

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

0,00

-1.000,00

-5.316,00

f) Results on disposal of financial instruments (+/-).: 61206

5.134,00

32,00

-1,00

0,00

g) Financial income (-).: 61207

-4.712,00

-838.554,00

-417.608,00

-320.074,00

-345.259,00

h) Financial Expenses (+). : 61208

752.193,00

658.778,00

602.298,00

367.154,00

278.488,00

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

-88.661,00

-287.658,00

202.061,00

178.439,00

66.087,00

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

103.398,00

0,00

3. Changes in current capital equity.: 61300

-6.332.215,00

8.663.521,00

-1.336.415,00

3.234.286,00

-5.480.792,00

a) Stock (+/-).: 61301

4.333.627,00

-1.013.404,00

-657.016,00

-6.589.915,00

5.697.327,00

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

6.210.641,00

6.531.891,00

-7.394.226,00

6.154.840,00

-13.928.820,00

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

0,00

5.432,00

10.905,00

-15.372,00

2.010,00

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

-16.876.483,00

3.139.601,00

6.703.922,00

3.684.732,00

2.748.691,00

4. Other cash flows for operating activities.: 61400

-747.481,00

-944.348,00

-1.138.331,00

-646.339,00

-240.519,00

a) Interest payments (-). : 61401

-752.193,00

-658.778,00

-602.298,00

-647.526,00

-278.488,00

b) Dividend payment collection (+). : 61402

4.712,00

1,00

602,00

1.187,00

0,00

c) Interest collection (+). : 61403

0,00

58.654,00

121.641,00

0,00

37.969,00

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

0,00

-344.225,00

-658.276,00

0,00

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

-6.327.399,00

9.059.464,00

808.502,00

4.122.199,00

-704.258,00

6. Payments for investment (-).: 62100

-168.937,00

-6.358.073,00

-1.191.123,00

-2.696.076,00

-6.421.817,00

a) Companies of the group and affiliates. : 62101

0,00

-6.281.246,00

-1.106.209,00

-1.724.500,00

-698.842,00

b) Intangible fixed assets. : 62102

0,00

-7.270,00

0,00

c) Fixed assets. : 62103

0,00

-50.727,00

0,00

-656.548,00

-5.722.975,00

e) Other financial assets. : 62105

-168.937,00

-26.100,00

-7.485,00

0,00

f) Non-current assets kept for sale. : 62106

0,00

-77.430,00

-307.759,00

0,00

7. Divestment payment collection (+). : 62200

6.318.825,00

0,00

153.636,00

78.787,00

127.617,00

a) Companies of the group and affiliates. : 62201

6.318.825,00

0,00

1,00

0,00

c) Fixed assets. : 62203

0,00

153.634,00

1.000,00

0,00

e) Other financial assets. : 62205

0,00

77.787,00

127.617,00

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

6.149.888,00

-6.358.073,00

-1.037.488,00

-2.617.289,00

-6.294.200,00

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

0,00

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

0,00

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

1.096.177,00

-2.687.439,00

737.760,00

-2.027.642,00

7.258.518,00

a) Issuance : 63201

1.321.500,00

0,00

2.066.629,00

0,00

7.701.856,00

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

695.216,00

0,00

1.427.721,00

0,00

5.893.280,00

3. Debts incurred with companies of the group and affiliates (+).: 63204

626.284,00

0,00

638.908,00

0,00

947.289,00

5. Other debts (+). : 63206

0,00

861.287,00

b) Repayment and amortization of : 63207

-225.323,00

-2.687.439,00

-1.328.869,00

-2.027.642,00

-443.338,00

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

-225.323,00

-893.215,00

-916.606,00

-836.921,00

0,00

3. Debts incurred with companies of the group and affiliates (-). : 63210

0,00

-1.377.470,00

0,00

4. Special characteristic debts (-). : 63211

0,00

-416.754,00

0,00

-1.190.721,00

0,00

5. Other debts (-). : 63212

0,00

-412.263,00

0,00

-443.338,00

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

0,00

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

1.096.177,00

-2.687.439,00

737.760,00

-2.027.642,00

7.258.518,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

918.666,00

13.952,00

508.774,00

-522.732,00

260.060,00

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

1.059.201,00

1.045.249,00

536.475,00

1.059.207,00

799.147,00

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

1.977.867,00

1.059.201,00

1.045.249,00

536.475,00

1.059.207,00

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:

0,02 %

0,01 %

0,00 %

-1,75 %

100,79 %

EBITDA over Sales:

-11,50 %

11,40 %

2,24 %

9,18 %

-613,60 %

24,16 %

Cash Flow Yield:

0,03 %

0,01 %

0,00 %

-0,84 %

100,78 %

Profitability

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

-19,11 %

6,99 %

1,66 %

5,14 %

-1.250,85 %

36,08 %

Total economic profitability:

-33,94 %

3,83 %

3,04 %

2,46 %

-1.216,76 %

55,47 %

Financial profitability:

-404,20 %

4,43 %

3,25 %

1,25 %

-12.538,17 %

253,75 %

Margin:

-13,15 %

6,77 %

1,13 %

4,79 %

-1.264,67 %

41,30 %

Mark-up:

-26,27 %

4,61 %

1,91 %

1,53 %

-1.472,50 %

200,96 %

Solvency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,08

0,13

0,03

0,12

170,83

14,18

Acid Test:

0,44

0,86

1,00

0,85

-55,90

0,72

Working Capital / Investment:

-0,15

0,05

0,25

0,03

-162,69

88,23

Solvency:

0,83

1,18

1,40

1,17

-40,61

0,08

Indebtedness

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

9,53

1,36

1,40

1,63

578,38

-16,58

Borrowing Composition:

0,00

0,99

0,01

1,03

-88,62

-3,83

Repayment Ability:

25,89

87,65

2.488,20

-0,74

-98,96

12.021,37

Warranty:

1,10

1,75

1,71

1,62

-35,46

7,67

Generated resources / Total creditors:

-0,20

0,08

0,04

0,07

-575,71

27,29

Efficiency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

-0,54

1,87

1,45

1,72

-137,52

8,62

Turnover of Collection Rights :

4,47

5,07

3,90

4,78

14,59

6,08

Turnover of Payment Entitlements:

3,48

3,67

2,07

3,52

67,82

4,29

Stock rotation:

4,53

7,33

4,31

6,47

4,96

13,33

Assets turnover:

1,45

1,03

1,47

1,07

-1,19

-3,69

Borrowing Cost:

3,16

2,83

1,90

2,95

66,64

-3,98

> 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:

0,02 %

0,00 %

0,01 %

-0,92 %

0,38 %

EBITDA over Sales:

-11,50 %

2,24 %

4,70 %

2,66 %

7,12 %

Cash Flow Yield:

0,03 %

0,00 %

0,01 %

-1,12 %

0,58 %

Profitability

2013

2012

2011

2010

2009

Operating economic profitability:

-19,11 %

1,66 %

5,81 %

2,63 %

11,61 %

Total economic profitability:

-33,94 %

3,04 %

4,98 %

2,40 %

10,11 %

Financial profitability:

-404,20 %

3,25 %

6,42 %

2,35 %

13,54 %

Margin:

-13,15 %

1,13 %

3,70 %

1,68 %

6,15 %

Mark-up:

-26,27 %

1,91 %

3,14 %

1,28 %

6,15 %

Solvency

2013

2012

2011

2010

2009

Liquidity:

0,08

0,03

0,02

0,06

Acid Test:

0,44

1,00

1,01

1,03

1,45

Working Capital / Investment:

-0,15

0,25

0,29

0,31

Solvency:

0,83

1,40

1,43

1,58

1,71

Indebtedness

2013

2012

2011

2010

2009

Indebtedness level:

9,53

1,40

1,35

1,09

1,04

Borrowing Composition:

0,00

0,01

0,04

0,12

0,20

Repayment Ability:

25,89

2.488,20

63,46

15,83

4,53

Warranty:

1,10

1,71

1,74

1,92

1,96

Generated resources / Total creditors:

-0,20

0,04

0,07

0,04

0,16

Efficiency

2013

2012

2011

2010

2009

Productivity:

-0,54

1,45

2,06

1,47

2,47

Turnover of Collection Rights :

4,47

3,90

3,62

4,67

3,62

Turnover of Payment Entitlements:

3,48

2,07

2,69

3,13

4,66

Stock rotation:

4,53

4,31

5,19

4,72

12,72

Assets turnover:

1,45

1,47

1,57

1,89

Borrowing Cost:

3,16

1,90

1,87

1,51

1,23

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

Alimarket

20/03/2015

Nuevo enfrentamiento de Pescanova y el G7 con las propuestas de convenios de fondo

Companies related

BAJAMAR SEPTIMA SA

FRINOVA SA

PESCANOVA ALIMENTACION SA

PESCAFRESCA SA

NOVAPESCA TRADING SL

FRIVIPESCA CHAPELA SA

FRIGODIS SA

INSUIÑA SL

PESCAFINA BACALAO SA

La Voz de Galicia

07/03/2015

Pescanova plantea a los acreedores de sus 10 filiales quitas de ms del 90 %

Companies related

BAJAMAR SEPTIMA SA

PESCANOVA ALIMENTACION SA

PESCAFRESCA SA

NOVAPESCA TRADING SL

FRIVIPESCA CHAPELA SA

INSUIÑA SL

PESCAFINA BACALAO SA

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Detail of Subsidies appearing in Balances Memories

Entity

FOGASA

Subsidy Concept

SUBVENCION A LA EXPLOTACION

Amount Granted

32.492,84

Research Summary

Company created several years ago, dedicated to the production and marketing of frozen fish. It is recommended to monitor its evolution, due to their current situation of Declaration of Insolvency.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.20
UK Pound	1	Rs. 97.00
Euro	1	Rs. 69.33

INFORMATION DETAILS

Analysis Done by :	RSM

Report Prepared by :	DPT

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

Branch Offices

Activity

Chronological Summary

Breakdown of Owners' Equity

Active Social Bodies

Historical Social Bodies

Defaults, Legal Claims and Insolvency Proceedings

Scoring Axesor

Probability of default

LEGAL CLAIMS

Link List

Turnover

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Detail of Subsidies appearing in Balances Memories

Research Summary

Unit