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Report No. : |
321037 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AVEC CHEM S.R.O. |
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Formerly Known As : |
AVEK SPOL. S R.O. |
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Registered Office : |
Staré Jesenčany 79, 530 02 Pardubice |
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Country : |
Czech
Republic |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
11.06.1997 |
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Com. Reg. No.: |
C 11439 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of chemicals and chemical products |
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No. of Employees : |
30 [2013] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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Czech
Republic |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CZECH REPUBLIC - ECONOMIC OVERVIEW
The Czech Republic is a stable and prosperous market economy
closely integrated with the EU, especially since the country's EU accession in
2004. The auto industry is the largest single industry, and, together with its
upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech
Republic produced more than a million cars for the first time in 2010, over 80%
of which were exported. While the conservative, inward-looking Czech financial
system has remained relatively healthy, the small, open, export-driven Czech
economy remains sensitive to changes in the economic performance of its main
export markets, especially Germany. When Western Europe and Germany fell into
recession in late 2008, demand for Czech goods plunged, leading to double digit
drops in industrial production and exports. As a result, real GDP fell sharply
in 2009. The economy slowly recovered in the second half of 2009 and registered
weak growth in the next two years. In 2012 and 2013, however, the economy fell
into a recession again, due both to a slump in external demand in the EU and to
the government’s austerity measures, returning to weak growth in 2014. Foreign
and domestic businesses alike voice concerns about corruption, especially in
public procurement. Other long term challenges include dealing with a rapidly
aging population, funding an unsustainable pension and health care system, and
diversifying away from manufacturing and toward a more high-tech,
services-based, knowledge economy.
|
Source
: CIA |
AVEC CHEM S.R.O.
Staré Jesenčany 79
530 02 Pardubice
Telephone: 00420/ 466 303 037
Telephone: 00420/ 603 787 483
Telephone: 00420/ 605 964 769
Telefax: 00420/ 466 303 037
e-Mail: info@avec.cz
Web: www.avec.cz
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Company development |
Constant company development |
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Order situation |
Satisfactory order situation |
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Terms of payment |
No complaints |
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Business connection |
Business connections appear permissible |
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||
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Legal form |
Private limited company |
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Foundation |
11/06/1997 - Private limited company |
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Comp. Register |
11/06/1997, Krajský soud Hradec
Králové, RegNr.: C 11439 |
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Share Capital |
11/06/1997 |
CZK |
100 000,- |
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16/09/2002 |
CZK |
200 000,- |
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Shareholders |
Ing. Blahoslav
Filipi (27.03.1951) |
CZK |
200 000,- |
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Management |
Ing. Michal
Filipi (21.11.1979) |
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General Data |
Development, manufacture and sale of means
for airway protection and air cleaning equipment – filters for protective
masks, filters for filtering and ventilating equipment for air, airway
protection means, special air cleaning equipment. |
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Main activity: |
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Former name(s) |
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Trade name(s) |
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General
contacts: |
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Address: |
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Sladkovského 1566, 530 02 Pardubice |
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business
locations: |
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Staff |
2009 |
2 employees |
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2011 |
5 employees |
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2013 |
30 employees |
||||
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Annual Sales |
2007 |
actual sales |
CZK |
8 698 000,- |
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2008 |
actual sales |
CZK |
24 846 000,- |
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2009 |
actual sales |
CZK |
7 689 000,- |
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2010 |
actual sales |
CZK |
12 612 000,- |
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2011 |
actual sales |
CZK |
14 532 000,- |
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2012 |
actual sales |
CZK |
48 159 000,- |
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2013 |
approx. turnover |
CZK |
45 000 000,- |
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The company is
not registered in the Central register of executions. |
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Property |
Property of the company: Business
premises |
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Balance sheets |
The enclosed profit/loss account of 2012
from business register, -. (31.12.2012 - 1 CZK) |
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|
The enclosed balance of 2012 from business
register, -. (31.12.2012 - 1 CZK) |
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Remarks |
The final
accounts for the year 2013 are not available yet. |
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Other entrepreneurial interests: |
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Bankers |
Československá obchodní banka, a.
s. |
(0300) |
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Copyright:
Creditreform s.r.o. Praha |
This information is addressed exclusively to the addressee. Contractor obligates to provide updated information. Although it is always put maximum effort to collect actual and exact information, it is not confirmed as delinquency if there are particular inaccurateness contained within the information, which are not considered as essential in terms of the objective for which the information is provided to the addressee. Contractor and recipient conform to the rules of the Name and Description Security Act, Nub.101/2000. According to the Name and Description Security Act, recipient has the right to process or to use forwarding data only for the purpose for which information has been sent to the recipient. Usage for other purpose is acceptable only in case referring to valid regulations of the above mentioned act. |
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BALANCE |
31.12.2009 (CZK) |
31.12.2010 (CZK) |
31.12.2011 (CZK) |
31.12.2012 (CZK) |
|
TOTAL ASSETS |
6 372 000 |
6 231 000 |
23 709 000 |
17 664 000 |
|
Receivables for subscriptions |
0 |
0 |
0 |
0 |
|
Fixed assets |
3 100 000 |
3 219 000 |
8 279 000 |
7 731 000 |
|
Intangible fixed assets |
0 |
0 |
0 |
0 |
|
Tangible fixed assets |
3 100 000 |
3 219 000 |
8 279 000 |
7 731 000 |
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Long-term financial assets |
0 |
0 |
0 |
0 |
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Current assets |
3 195 000 |
3 012 000 |
15 405 000 |
9 931 000 |
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Inventory |
1 807 000 |
1 401 000 |
10 140 000 |
2 103 000 |
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Long-term receivables |
0 |
186 000 |
186 000 |
186 000 |
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Short-term receivables |
913 000 |
1 276 000 |
4 287 000 |
7 523 000 |
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Short-term financial assets |
475 000 |
149 000 |
792 000 |
119 000 |
|
Accruals |
77 000 |
0 |
25 000 |
2 000 |
|
TOTAL LIABILITIES |
6 372 000 |
6 231 000 |
23 709 000 |
17 664 000 |
|
Equity |
3 604 000 |
4 096 000 |
4 219 000 |
4 526 000 |
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Registered capital |
200 000 |
200 000 |
200 000 |
200 000 |
|
Capital funds |
0 |
0 |
0 |
0 |
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Reserve funds, statutory reserve account for
cooperatives, and other retained earnings |
0 |
0 |
0 |
0 |
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Profit / loss - previous years |
3 403 000 |
3 403 000 |
3 896 000 |
4 019 000 |
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Profit / loss - current year (+/-) |
1 000 |
493 000 |
123 000 |
307 000 |
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Liabilities |
2 768 000 |
2 135 000 |
19 490 000 |
13 138 000 |
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Reserves |
0 |
0 |
0 |
0 |
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Long-term payables |
2 709 000 |
862 000 |
10 205 000 |
12 731 000 |
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Short-term payables |
59 000 |
1 273 000 |
9 285 000 |
407 000 |
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Bank loans and financial accommodations |
0 |
0 |
0 |
0 |
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Accruals |
0 |
0 |
0 |
0 |
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PROFIT/LOSS ACCOUNT |
31.12.2009 (CZK) |
31.12.2010 (CZK) |
31.12.2011 (CZK) |
31.12.2012 (CZK) |
|
Turnover |
7 689 000 |
12 612 000 |
14 532 000 |
48 159 000 |
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Revenues from sold goods |
2 173 000 |
2 215 000 |
4 616 000 |
12 871 000 |
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Expenses on sold goods |
1 998 000 |
1 688 000 |
3 861 000 |
10 136 000 |
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Sale margin |
175 000 |
527 000 |
755 000 |
2 735 000 |
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Production |
5 516 000 |
10 397 000 |
9 916 000 |
35 288 000 |
|
Production consumption |
4 084 000 |
8 758 000 |
7 680 000 |
14 156 000 |
|
Added value |
1 607 000 |
2 166 000 |
2 991 000 |
23 867 000 |
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Personnel expenses |
805 000 |
1 382 000 |
1 795 000 |
19 900 000 |
|
Taxes and fees |
16 000 |
53 000 |
23 000 |
45 000 |
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Depreciations of intangible and tangible assets |
681 000 |
401 000 |
1 707 000 |
4 113 000 |
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Revenues from disposals of fixed assets and
materials |
0 |
0 |
0 |
0 |
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Net book value of disposed fixed assets and
materials |
0 |
0 |
0 |
0 |
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Change in operating reserves and adjustments and complex deferred
costs ( + / - ) |
0 |
78 000 |
69 000 |
56 000 |
|
Other operating revenues |
35 000 |
446 000 |
240 000 |
480 000 |
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Other operating expenses |
6 000 |
0 |
0 |
1 000 |
|
Transfer of operating revenues |
0 |
0 |
0 |
0 |
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Transfer of operating expenses |
0 |
0 |
0 |
0 |
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Operating profit / loss |
134 000 |
698 000 |
-363 000 |
232 000 |
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Revenues from sales of securities and ownership interests |
0 |
0 |
0 |
0 |
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Sold securities and ownership interests |
0 |
0 |
0 |
0 |
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Revenues from long-term financial assets |
0 |
0 |
0 |
0 |
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Revenues from short-term financial assets |
0 |
0 |
0 |
0 |
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Expenses associated with financial assets |
0 |
0 |
0 |
0 |
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Revenues from revaluation of securities and derivatives |
0 |
0 |
0 |
0 |
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Cost of revaluation of securities and derivatives |
0 |
0 |
0 |
0 |
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Change in financial reserves and adjustments ( + / - ) |
0 |
0 |
0 |
0 |
|
Interest revenues |
0 |
0 |
1 000 |
0 |
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Interest expenses |
0 |
0 |
0 |
0 |
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Other financial revenues |
239 000 |
196 000 |
826 000 |
877 000 |
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Other financial expenses |
356 000 |
271 000 |
296 000 |
826 000 |
|
Transfer of financial revenues |
0 |
0 |
0 |
0 |
|
Transfer of financial expenses |
0 |
0 |
0 |
0 |
|
Profit / loss from financial operations (
transactions ) |
-117 000 |
-75 000 |
531 000 |
51 000 |
|
Income tax on ordinary income |
16 000 |
130 000 |
45 000 |
87 000 |
|
Operating profit / loss ordinary activity |
1 000 |
493 000 |
123 000 |
196 000 |
|
Extraordinary revenues |
0 |
0 |
0 |
111 000 |
|
Extraordinary expenses |
0 |
0 |
0 |
0 |
|
Income tax on extraordinary income |
0 |
0 |
0 |
0 |
|
Operating profit / loss extraordinary
activity |
0 |
0 |
0 |
111 000 |
|
Transfer profit ( loss ) to partners (+/-) |
0 |
0 |
0 |
0 |
|
Profit / loss of current accounting period
(+/-) |
1 000 |
493 000 |
123 000 |
307 000 |
|
Profit / loss before tax (+/-) |
17 000 |
623 000 |
168 000 |
394 000 |
|
BALANCE INDICES |
|
31.12.2009 |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
0,27 |
10,00 |
0,71 |
2,23 |
|
Return on equity ROE (in %) |
a62/r68 * 100 |
0,47 |
15,21 |
3,98 |
8,71 |
|
Return on sales ROS (in %) |
a62/a1 * 100 |
0,22 |
4,94 |
1,16 |
0,82 |
|
Turnover of receivables (in days) |
r49/a1 * 365 |
n/a |
n/a |
n/a |
n/a |
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
n/a |
n/a |
n/a |
n/a |
|
Turnover of inventories (days) |
r32/a1 * 365 |
85,78 |
40,55 |
254,69 |
15,94 |
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
3 136,00 |
1 739,00 |
6 120,00 |
9 524,00 |
|
Ratio of accounts payable to accounts receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
32,98 |
68,48 |
22,95 |
58,68 |
|
Ratio of profit/loss to tangible assets (in%) |
r3 / a1 * 100 |
40,32 |
25,52 |
56,97 |
16,05 |
|
Current ratio |
r31 / (r102+r116+r117) |
n/a |
n/a |
n/a |
n/a |
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
23,53 |
1,12 |
0,55 |
18,78 |
|
Cash ratio |
r58 / (r102+r116+r117) |
n/a |
n/a |
n/a |
n/a |
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
43,44 |
34,26 |
82,21 |
74,38 |
|
Debt ratio II (in %) |
r85/r67 * 100 |
43,44 |
34,26 |
82,21 |
74,38 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
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|
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.