MIRA INFORM REPORT

Report No. :	323324
Report Date :	21.05.2015

IDENTIFICATION DETAILS

Name :	ABASIC SL

Registered Office :	Pas. Del Mare Nostrum, 15. Barcelona 08039

Country :	Spain

Financials (as on) :	31.12.2013

Date of Incorporation :	01.01.2003

Legal Form :	Private Company

Line of Business :	Wholesale of textiles

No. of Employee :	960

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Spain

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:

ABASIC SL

NIF / Fiscal code:

B63054068

Trade Name

DESIGUAL

Status:

ACTIVE

Incorporation Date:

01/01/2003

Register Data

Last Publication in BORME:

30/12/2014 [Appointments]

Last Published Account Deposit:

2013

Share Capital:

20.588.406

Localization:

PAS. DEL MARE NOSTRUM, 15. - BARCELONA - 08039 - BARCELONA

Telephone - Fax - Email - Website:

Ph.:. 933 043 164 / 932 140 914�� Email. desigual@desigual.com�� Website. www.desigual.com

Activity:

NACE:

4641 - Wholesale of textiles

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

0 for a total cost of 0

Subsidies:

0 for a total cost of 0

Quality Certificate:

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

Unpublished

---

Partners:

LA VIDA ES CHULA SL

99 %

Identification

Social Denomination:

ABASIC SL

Trade Name:

DESIGUAL

NIF / Fiscal code:

B63054068

Corporate Status:

ACTIVE

Start of activity:

2003

Registered Office:

PAS. DEL MARE NOSTRUM, 15.

Locality:

BARCELONA

Province:

BARCELONA

Postal Code:

08039

Telephone:

933 043 164 / 932 140 914

Fax:

933 021 907 / 933 043 164

Website:

www.desigual.com

Email:

desigual@desigual.com

Activity

NACE:	4641
Additional Information:	After efforts made, we are informed that it is a leading company dedicated to designing and selling clothes, shoes and accessories. It is in the process of expansion.
Franchise:	No
Import / export:	EXPORTS
Future Perspective:	Expansion
Industry situation:	Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2015

960

Chronological Summary

Year

Act

2003

Accounts deposit (ejer. 2002) Appointments/ Re-elections (1) Company Formation (1) Declaration of Sole Propietorship (1) Increase of Capital (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (2)

2004

Accounts deposit (ejer. 2003)

2005

Accounts deposit (ejer. 2004) Appointments/ Re-elections (4) Increase of Capital (1)

2006

Accounts deposit (ejer. 2005) Appointments/ Re-elections (1)

2007

Accounts deposit (ejer. 2006) Appointments/ Re-elections (1)

2008

Accounts deposit (ejer. 2007) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1)

2009

Accounts deposit (ejer. 2008) Appointments/ Re-elections (1)

2010

Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social Purpose (1) Declaration of Sole Propietorship (1) Increase of Capital (1) Other Concepts/ Events (1) Statutory Modifications (1)

2011

Accounts deposit (ejer. 2009, 2010) Appointments/ Re-elections (3) Increase of Capital (1)

2012

Accounts deposit (ejer. 2011) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (2) Change of Social address (1)

2013

Accounts deposit (ejer. 2012) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (3) Change of Social Purpose (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (1) Take-over Merger (3)

2014

Accounts deposit (ejer. 2013) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Increase of Capital (1) Statutory Modifications (2)

Main Historic Changes

Concept

Publication

Act

Date

Corporate Purpose Changes:

LA VENTA AL POR MAYOR O AL DETALLE DE TODO TIPO DE ARTÍCULOS DE CONFECCION, GEÑEROS DE PUNTO Y COMPLEMENTOS VARIOSLA FABRICACION DE ARTÍCULOS DE CONFECCION, GENEROS DE PUNTO Y COMPLEMENTOS VARIOS.ETC

Company Formation

18/02/2003

Breakdown of Owners' Equity

Registered Capital:

20.588.406

Paid up capital:

20.588.406

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

22/01/2003

Company Formation

30.000

04/06/2003

Increase of Capital

1.114.980

1.144.980

09/02/2005

Increase of Capital

1.802.010

2.946.990

03/02/2010

Increase of Capital

7.458.882

10.405.872

08/08/2011

Increase of Capital

8.123.693

18.529.565

25/08/2014

Increase of Capital

2.058.841

20.588.406

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

LA VIDA ES CHULA SL

03/05/2013

MEMBER OF THE BOARD

FERRAN LARRAZ FRANCISCO JAVIER

25/08/2014

MARCELLO VITTORIO BOTTOLI

25/08/2014

JADRAQUE SANTOS MANUEL

25/08/2014

PIERRE MARIE JEAN LOUIS CUILLERET

25/08/2014

VIRGINIE MORGON

25/08/2014

FRANS ALEXIS HUMBERT HECTOR TIELEMAN

25/08/2014

LA VIDA ES CHULA SL

03/05/2013

JOINT ATTORNEY

CASTRESANA HUGAS FRANCISCO DE BORJA

14/04/2014

JOINT ATTORNEY/COMBINED PROXY

BERTRAN SESE GLORIA

14/11/2013

BONET MASDEU MONTSERRAT

14/11/2013

CALIXTO DE LAS HERAS NOEMI

14/11/2013

PROXY

TORRALBA HEREDIA MARIA

29/01/2013

OBIOLS FERRE MARIA

29/01/2013

PLANA ALMUNI JORGE

02/09/2011

CHIEF EXECUTIVE OFFICER

JADRAQUE SANTOS MANUEL

25/08/2014

NON CONSELLOR SECRETARY

RAMIREZ MARTINELL JORGE

25/08/2014

NON CONSELLOR ASSISTANT SECRETARY

TRUJILLO PARRA CRISTINA

25/08/2014

REPRESENTATIVE

THOMAS ANDREAS MEYER

03/05/2013

ACCOUNTS' AUDITOR / HOLDER

DELOITTE SL

22/12/2014

CONSOLIDATED ACCOUNTS' AUDITOR

DELOITTE SL

22/12/2014

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ADELL DOMINGO MANEL

MEMBER OF THE BOARD

03/05/2013

VICE CHAIRMAN

03/05/2013

CHIEF EXECUTIVE OFFICER

22/11/2012

CABANES MASO ANA

PROXY

29/01/2013

CHRISTIAN MEYER

MEMBER OF THE BOARD

05/07/2012

PROXY

31/07/2008

PROXY

05/07/2012

DANIEL VICTOR MEYER

SINGLE PARTNER

04/06/2003

SINGLE ADMINISTRATOR

17/01/2008

DELOITTE SL

ACCOUNTS' AUDITOR / HOLDER

22/12/2014

CONSOLIDATED ACCOUNTS' AUDITOR

22/12/2014

GASSO AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

05/11/2009

ACCOUNTS' AUDITOR / HOLDER

13/12/2011

GOMARIZ OROZCO CELSO

MEMBER OF THE BOARD

25/08/2014

JADRAQUE SANTOS MANUEL

PROXY

31/07/2008

PROXY

16/03/2005

PROXY

29/01/2013

NTS IT'S NOT THE SAME BV

SINGLE PARTNER

18/12/2013

MEMBER OF THE BOARD

03/05/2013

PRESIDENT

03/05/2013

OBIOLS FERRE MARIA

PROXY

02/09/2011

PROXY

29/01/2013

OLONDRIZ PLANELL GUILLERMO A

PROXY

16/03/2005

PROXY

29/01/2013

PLANA ALMUNI JORGE

PROXY

15/07/2010

PROXY

19/05/2011

PROXY

02/09/2011

RAMIREZ MARTINELL JORGE

MEMBER OF THE BOARD

25/08/2014

NON CONSELLOR SECRETARY

05/07/2012

SECRETARY

25/08/2014

THOMAS ANDREAS MEYER

REPRESENTATIVE

03/05/2013

Executive board

Post

NIF

Name

MANAGING DIRECTOR

MANUEL JADRAQUE

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

Unpublished

---

> Basis for scoring

Positive Factors

Adverse Factors

No judicial claims have been detected in the Official Gazettes, regarding any Entity's outstanding debts with the Tax Bureau or Social Security administrations, as submitted by Courts of the various court jurisdictions.

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

It is one of the major domestic companies in terms of sales volume.

ABASIC SL 's borrowing cost is appropriate according to its volume of external financing sources.

High operating income. It has the necessary high operating income for its main activity in comparison with its assets. This return is higher than that of the financial year [@BDR_ULTIMO_BAL_DISPONIBLE] , which means that the company's financial situation has improved.

Probability of default

> Estimated Probability of Default for the next 12 months: 0.222 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

464 Wholesale of household goods

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 99.00% of the companies of the sector ABASIC 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 0.222%.

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 10.480.000 € (Guideline value of outstanding commercial balance that axesor recommends be awarded to or maintained with the company queried)

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

No se han publicado

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

No se han publicado

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

No se han publicado

Incidences with the Social Security

No se han publicado

Incidences with the Autonomous Administration

No se han publicado

Incidences with the Local Administration

No se han publicado

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

No se han publicado

Proceedings by the old Civil Procedural Law 1.881

No se han publicado

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Procedimientos ante Juzgados de lo Social

No se han publicado

Clients

Name

NIF

Telephone

COMPRADORES FINALES

Link List

PARTICIPATES IN:

27 Entities

SHAREHOLDERS:

1 Entities

ABSORBS TO:

1 Entities

BELONGS TO THE ADMINISTRATION BOARD OF:

1 Entities

HAS IN ITS ADMINISTRATION BOARD TO:

1 Entities

IS RELATED WITH:

6 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

LA VIDA ES CHULA SL

BARCELONA

PARTICIPATES IN

SEPALEMEME SL

BARCELONA

100

NTS IT'S NOT THE SAME CANARY ISLANDS SL

SANTA CRUZ DE TENERIFE

100

GOOD EFFORT SL

BARCELONA

100

DESIGUAL SL

BARCELONA

100

INTS FRANCE SARL

100

INTS IRELAND, S.A.

100

INTS UK, S.A.

100

NTS BELGIUM SPRL

100

INTS ITALIA, S.L.

100

INTS GERMANY, S.A.

100

INTS BRAZIL ATACADO E VAREJO DE ROUPAS E ACCESORIOS, SOCIEDAD ANONIMA, (BRASIL)

INTS HK, SOCIEDAD ANONIMA, (HONG KONG)

100

INTS IT'S NOT THE SAME AUSTRIA, S.A.

100

INTS IT'S NOT THE SAME CANADA, SOCIEDAD ANONIMA, (CANADA)

100

INTS IT S NOT THE SAME HOLLAND BV

100

INTS PORTUGAL UNIPESSOAL LDA (PORTUGAL)

100

IT S NOT THE SAME DENMARK APS (DENMARK)

100

NTS IT S NOT THE SAME USA LLC (USA)

100

NTS W USA (USA)

100

INTS IT S NOT THE SAME MEXICO TRADE

INTS IT'S NOT THE SAME, SOCIEDAD ANONIMA, (ZURICH)

100

INTS IT S NOT THE SAME MEXICO EXPORT (MEXICO)

INTS (SHANGHAI) GARMENTS & ACCESSORIES TRADING CO, SOCIEDAD ANONIMA, (CHINA)

INTS IT S NOT THE SAME CHINA (CHINA)

INTS IT S NOT THE SAME JAPAN

INTS IT S NOT THE SAME POLAND SP ZOO (POLAND)

100

INTS IT S NOT THE SAME TAIWAN

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

| |

FITE ASSESSORS SL

BARCELONA

INTS, S.A.

INTS IT S NOT THE SAME CANARY ISLANDS

INTS SHANGHAI FIRST BRANCH

NTS SINGAPORE, S.A.

LA VIDA ES CHULA SL

BARCELONA

ABSORBS TO

MAGIC STORIES SL

BARCELONA

HAS IN ITS ADMINISTRATION BOARD TO

LA VIDA ES CHULA SL

BARCELONA

BELONGS TO THE ADMINISTRATION BOARD OF

DESIGUAL SL

BARCELONA

Turnover

Total Sales 2013

452.087.225

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2013

Normales

November 2014

2012

Normales

October 2013

2011

Normales

November 2012

2010

Normales

October 2011

2009

Normales

December 2010

2008

Normales

November 2009

2007

Normales

July 2008

2006

Normales

September 2007

2005

Normales

August 2006

2004

Normales

October 2005

2003

Normales

April 2004

2002

Normales

September 2003

The data in the report regarding the last Company Accounts submitted by the company is taken from the TRADE REGISTER serving the region in which the company's address is located 31/12/2013

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

Information corresponding to the fiscal year 2013 2012 2011 2010 2009 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2013 2012 2011 2010 2009 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria, 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

150.156.256,00

198.693.160,00

115.846.733,00

49.857.000,00

32.802.789,00

I. Intangible fixed assets : 11100

14.944.834,00

15.770.790,00

13.992.919,00

6.523.041,00

3.558.517,00

1. Development: 11110

0,00

2. Concessions: 11120

5.532.416,00

5.715.327,00

5.852.751,00

0,00

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

0,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

9.412.418,00

10.055.463,00

8.140.168,00

6.523.041,00

3.558.517,00

6. Investigation: 11160

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

74.181.539,00

68.332.826,00

47.628.936,00

27.973.966,00

20.346.878,00

1. Land and buildings: 11210

41.357.635,00

34.094.774,00

6.429.289,00

6.492.605,00

6.555.835,00

2. Technical installations and other tangible fixed assets: 11220

31.896.797,00

33.085.144,00

21.942.285,00

19.795.647,00

13.791.043,00

3. Tangible asset in progress and advances: 11230

927.107,00

1.152.908,00

19.257.362,00

1.685.714,00

0,00

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

45.560.987,00

105.574.100,00

49.129.601,00

7.713.724,00

7.463.724,00

1. Equity instruments: 11410

24.646.332,00

19.767.176,00

24.453.837,00

7.713.724,00

7.463.724,00

2. Credits to businesses: 11420

20.914.655,00

85.806.924,00

24.675.764,00

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

126.945,00

129.888,00

158.070,00

1.821.008,00

116.441,00

1. Equity instruments: 11510

0,00

8.797,00

11.536,00

10.438,00

2. Credits to third parties : 11520

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

126.945,00

129.888,00

149.273,00

1.809.472,00

106.003,00

6. Other investments: 11560

0,00

VI. Assets for deferred tax : 11600

15.341.951,00

8.885.556,00

4.937.207,00

5.825.261,00

1.317.229,00

VII. Non-current trade debts : 11700

0,00

B) CURRENT ASSETS: 12000

270.933.499,00

186.117.917,00

217.127.099,00

164.976.679,00

125.980.409,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

76.443.245,00

62.362.734,00

70.197.185,00

73.064.714,00

51.227.820,00

1. Commercial: 12210

74.631.100,00

60.097.596,00

67.544.586,00

72.149.365,00

50.495.088,00

2. Primary material and other supplies: 12220

1.812.145,00

2.265.138,00

2.071.269,00

843.636,00

732.732,00

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

0,00

581.330,00

71.713,00

0,00

III. Trade debtors and others receivable accounts: 12300

95.623.793,00

77.851.904,00

90.082.477,00

51.365.644,00

60.220.126,00

1. Trade debtors / accounts receivable: 12310

46.716.474,00

34.164.317,00

41.232.933,00

30.511.254,00

28.159.525,00

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

0,00

b) Customers for sales and provisions of services : 12312

46.716.474,00

0,00

41.232.933,00

0,00

28.159.525,00

2. Customers, Group companies and associates : 12320

32.398.573,00

27.902.384,00

28.342.658,00

13.904.882,00

23.581.361,00

3. Other accounts receivable: 12330

6.948.456,00

232.936,00

119.247,00

340.538,00

439.304,00

4. Personnel: 12340

0,00

5. Assets for deferred tax: 12350

0,00

4.420.233,00

0,00

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

9.560.290,00

15.552.267,00

15.967.406,00

6.608.970,00

8.039.936,00

7. Called up share capital: 12370

0,00

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

60.830,00

8.031.424,00

12.898.386,00

6.929.563,00

26.875,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

60.830,00

8.031.424,00

12.898.386,00

6.929.563,00

26.875,00

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

769.799,00

225.547,00

34.080.240,00

15.953.150,00

4.622.718,00

1. Equity instruments: 12510

0,00

12.091,00

111.888,00

121.718,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

8.637.063,00

1.172.925,00

0,00

5. Other financial assets : 12550

769.799,00

225.547,00

25.431.086,00

14.668.337,00

4.501.000,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

575.750,00

657.002,00

448.607,00

1.085.102,00

369.407,00

VII. Cash and other equivalent liquid assets : 12700

97.460.082,00

36.989.306,00

9.420.204,00

16.578.506,00

9.513.463,00

1. Treasury: 12710

97.460.082,00

36.989.306,00

9.420.204,00

16.578.506,00

9.513.463,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

421.089.755,00

384.811.077,00

332.973.832,00

214.833.679,00

158.783.198,00

ORIGINAL

Liabilities and Net Worth

2013

2012

2011

2010

2009

A) NET WORTH: 20000

82.770.759,00

181.942.574,00

105.197.455,00

53.089.883,00

31.561.231,00

A-1) Shareholders' equity: 21000

87.222.994,00

182.786.761,00

99.151.511,00

53.089.883,00

31.561.231,00

I. Capital: 21100

18.529.565,00

10.405.872,00

1. Registered capital : 21110

18.529.565,00

10.405.872,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

5.343.475,00

80.621.946,00

42.590.670,00

21.155.359,00

8.137.884,00

1. Legal y estatutarias: 21310

3.705.912,00

2.081.175,00

1.891.146,00

589.398,00

2. Other reserves: 21320

1.637.563,00

76.916.034,00

40.509.495,00

19.264.213,00

7.548.486,00

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

63.349.954,00

83.635.250,00

38.031.276,00

21.528.652,00

13.017.475,00

VIII. (Interim dividend): 21800

0,00

IX. Other net worth instruments: 21900

0,00

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

-4.452.235,00

-844.187,00

6.045.944,00

0,00

I. Financial assets held for sale: 22100

0,00

II. Hedge operations: 22200

-4.452.235,00

-844.187,00

6.045.944,00

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

102.198.591,00

13.328.207,00

89.763.593,00

74.275.813,00

57.327.807,00

I. Long-term provisions: 31100

3.984.563,00

0,00

2.300.000,00

1. Long-term employee benefits liability: 31110

3.984.563,00

0,00

2.300.000,00

2. Environmental actions: 31120

0,00

3. Restructuring provisions: 31130

0,00

4. Other provisions: 31140

0,00

II Long-term creditors: 31200

69.631.741,00

2.926.417,00

5.217.549,00

7.769.073,00

8.823.792,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

69.631.741,00

2.734.521,00

4.220.192,00

1.894.445,00

1.977.616,00

3. Creditors from financial leasing: 31230

0,00

997.357,00

1.931.645,00

2.829.118,00

4. Derivatives : 31240

0,00

13.357,00

5. Other financial liabilities : 31250

0,00

191.896,00

0,00

3.942.983,00

4.003.701,00

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

16.278.608,00

838.631,00

75.787.043,00

60.480.643,00

44.888.062,00

IV. Liabilities for deferred tax: 31400

12.303.679,00

9.563.159,00

8.690.366,00

3.726.097,00

1.315.953,00

V. Long-term accruals: 31500

0,00

68.635,00

0,00

VI. Non-current trade creditors : 31600

0,00

VII. Special long-term debts : 31700

0,00

C) CURRENT LIABILITIES : 32000

236.120.405,00

189.540.296,00

138.012.784,00

87.467.983,00

69.894.160,00

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

0,00

II. Short-term provisions: 32200

2.591.157,00

1.709.189,00

3.306.186,00

0,00

1. Provisions from greenhouse gas emission allowance: 32210

0,00

2. Other provisions: 32220

2.591.157,00

0,00

III. Short-term creditors : 32300

27.244.132,00

5.192.407,00

6.950.435,00

3.578.737,00

1.409.748,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

20.258.340,00

762.180,00

5.991.984,00

177.792,00

589.883,00

3. Creditors from financial leasing: 32330

0,00

997.357,00

934.287,00

875.208,00

819.865,00

4. Derivatives : 32340

6.360.335,00

1.205.981,00

0,00

2.523.938,00

0,00

5. Other financial liabilities : 32350

625.457,00

2.226.889,00

24.164,00

1.799,00

0,00

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

74.191.364,00

77.536.769,00

33.142.928,00

0,00

V. Trade creditors and other accounts payable: 32500

132.089.376,00

105.081.787,00

94.599.757,00

83.889.246,00

68.484.412,00

1. Suppliers: 32510

118.561.942,00

96.837.083,00

53.191.696,00

50.636.454,00

40.617.050,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

118.561.942,00

0,00

53.191.696,00

0,00

40.617.050,00

2. Suppliers, Group companies and associates: 32520

3.373.240,00

2.075.995,00

3.073.309,00

6.401.355,00

10.310.588,00

3. Other creditors: 32530

0,00

25.671.126,00

17.620.169,00

12.601.700,00

4. Personnel (remuneration due): 32540

727.967,00

762.698,00

135.814,00

709.068,00

411.773,00

5. Liabilities for current tax: 32550

0,00

62.080,00

1.781.995,00

246.081,00

6. Other accounts payable to Public Administrations.: 32560

5.418.999,00

2.456.030,00

2.721.912,00

1.934.083,00

653.986,00

7. Advances from clients: 32570

4.007.228,00

2.949.981,00

9.743.820,00

4.806.122,00

3.643.234,00

VI. Short-term accruals: 32600

4.376,00

20.144,00

13.478,00

0,00

VII. Special short-term debts : 32700

0,00

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

421.089.755,00

384.811.077,00

332.973.832,00

214.833.679,00

158.783.198,00

ORIGINAL

Profit and Loss

2013

2012

2011

2010

2009

1. Net turnover: 40100

452.087.225,00

375.186.409,00

323.849.841,00

279.550.845,00

185.141.519,00

a) Sales: 40110

452.087.225,00

375.186.409,00

323.849.841,00

279.550.845,00

185.141.519,00

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

0,00

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

0,00

4. Supplies : 40400

-208.814.801,00

-178.830.496,00

-158.622.961,00

-132.499.265,00

-93.850.043,00

a) Stock consumption: 40410

-191.635.409,00

-167.451.003,00

-147.963.030,00

-104.095.657,00

-72.151.607,00

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

-15.752.872,00

-7.284.493,00

-9.716.820,00

-16.463.062,00

-18.468.651,00

c) Works carried out by other companies: 40430

0,00

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

-1.426.520,00

-4.095.000,00

-943.111,00

-11.940.546,00

-3.229.785,00

5. Other operating income: 40500

58.490.138,00

43.738.806,00

12.552.189,00

4.647.016,00

7.935.742,00

a) Auxiliary income and other from current management: 40510

58.436.712,00

43.727.785,00

12.502.351,00

4.609.779,00

7.893.851,00

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

53.426,00

11.021,00

49.838,00

37.237,00

41.891,00

6. Personnel costs: 40600

-47.939.996,00

-42.103.338,00

-34.820.313,00

-25.616.561,00

-17.034.664,00

a) Wages, salaries et al.: 40610

-36.988.751,00

-32.369.853,00

-26.460.948,00

-19.358.850,00

-13.755.746,00

b) Social security costs: 40620

-10.951.245,00

-9.733.485,00

-8.359.365,00

-6.257.711,00

-3.278.918,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-132.070.845,00

-120.689.928,00

-103.862.401,00

-89.036.836,00

-55.748.698,00

a) External services: 40710

-127.005.284,00

-116.653.792,00

-102.321.272,00

-84.654.871,00

-52.772.543,00

b) Taxes: 40720

-420.090,00

-68.743,00

-268.346,00

-178.515,00

-96.869,00

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

-4.645.471,00

-3.967.393,00

-1.272.783,00

-4.203.450,00

-2.879.286,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-13.134.933,00

-10.749.740,00

-7.186.247,00

-4.919.276,00

-3.484.046,00

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

-2.793.604,00

-2.669.835,00

0,00

a) Impairment and losses : 41110

-71.965,00

0,00

b) Results for transfers and other : 41120

-2.721.639,00

-2.669.835,00

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

0,00

-6.138,00

16.756,00

-51.269,00

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

105.823.184,00

63.881.878,00

31.903.970,00

32.142.679,00

22.908.541,00

14. Financial income : 41400

1.721.612,00

44.880.808,00

22.037.559,00

2.879.535,00

199.543,00

a) Of shares in equity instruments : 41410

0,00

43.000.000,00

20.000.000,00

0,00

a 1) In Group companies and associates: 41411

0,00

43.000.000,00

20.000.000,00

0,00

a 2) In third parties: 41412

0,00

b) From negotiable securities and other financial instruments : 41420

1.721.612,00

1.880.808,00

2.037.559,00

2.879.535,00

199.543,00

b 1) From Group companies and associates : 41421

1.237.219,00

1.290.242,00

988.420,00

155.170,00

0,00

b 2) From third parties : 41422

484.393,00

590.566,00

1.049.139,00

2.724.365,00

199.543,00

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

0,00

15. Financial expenditure: 41500

-8.853.061,00

-4.398.449,00

-5.904.781,00

-2.748.371,00

-1.996.171,00

a) Amounts owed to Group companies and associates : 41510

-2.094.800,00

-3.894.703,00

-4.064.555,00

-2.202.938,00

-752.621,00

b) For debts with third parties : 41520

-6.758.261,00

-503.746,00

-1.840.226,00

-545.433,00

-1.243.550,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

-358.429,00

5.427.029,00

1.351.011,00

-1.336.679,00

-2.369.732,00

a) Trading book and other : 41610

-358.429,00

5.427.029,00

1.351.011,00

-1.336.679,00

-2.369.732,00

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

0,00

17. Exchange rate differences : 41700

1.957.587,00

-2.185.407,00

-1.869.452,00

-117.489,00

-356.166,00

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

-8.008.555,00

-6.798.363,00

-1.737.655,00

-230.097,00

-1.274,00

a) Impairment and losses : 41810

-8.008.555,00

-6.798.363,00

-1.737.655,00

-230.097,00

-1.274,00

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

-13.540.846,00

36.925.618,00

13.876.682,00

-1.553.101,00

-4.523.800,00

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

92.282.338,00

100.807.496,00

45.780.652,00

30.589.578,00

18.384.741,00

20. Income taxes: 41900

-28.932.384,00

-17.172.246,00

-7.749.376,00

-9.060.926,00

-5.367.266,00

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

63.349.954,00

83.635.250,00

38.031.276,00

21.528.652,00

13.017.475,00

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

0,00

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

63.349.954,00

83.635.250,00

38.031.276,00

21.528.652,00

13.017.475,00

> 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. 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:

134.814.305,00

189.807.604,00

110.909.526,00

44.031.739,00

31.485.560,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

14.944.834,00

15.770.790,00

13.992.919,00

6.523.041,00

3.558.517,00

1. Research and development costs:

0,00

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

5.532.416,00

5.715.327,00

5.852.751,00

0,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

5. Software:

9.412.418,00

10.055.463,00

8.140.168,00

6.523.041,00

3.558.517,00

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:

74.181.539,00

68.332.826,00

47.628.936,00

27.973.966,00

20.346.878,00

1. Land and construction:

41.357.635,00

34.094.774,00

6.429.289,00

6.492.605,00

6.555.835,00

2. Technical installations and machinery:

100.239,00

103.973,00

68.956,00

62.210,00

43.340,00

3. Other installations, tools and furniture:

22.171.927,00

22.997.964,00

15.252.401,00

13.760.242,00

9.586.354,00

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

927.107,00

1.152.908,00

19.257.362,00

1.685.714,00

0,00

5. Other tangible assets:

9.624.632,00

9.983.207,00

6.620.929,00

5.973.196,00

4.161.349,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

45.687.932,00

105.703.988,00

49.287.671,00

9.534.732,00

7.580.165,00

1. Equity investments in group companies:

24.646.332,00

19.767.176,00

24.453.837,00

7.713.724,00

7.463.724,00

2. Receivables from group companies:

20.914.655,00

85.806.924,00

24.675.764,00

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

0,00

8.797,00

11.536,00

10.438,00

6. Other receivables:

0,00

7. Long term guarantees and deposits:

126.945,00

129.888,00

149.273,00

1.809.472,00

106.003,00

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:

286.275.450,00

195.003.473,00

213.427.243,00

169.629.015,00

127.297.638,00

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

0,00

II. Stocks:

76.443.245,00

62.362.734,00

70.197.185,00

73.064.714,00

51.227.820,00

1. Goods for resale:

74.631.100,00

60.097.596,00

67.544.586,00

72.149.365,00

50.495.088,00

2. Raw materials and other consumables:

1.812.145,00

2.265.138,00

2.071.269,00

843.636,00

732.732,00

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:

0,00

581.330,00

71.713,00

0,00

7. Provisions:

0,00

III. Debtors:

110.965.744,00

86.737.460,00

95.019.684,00

57.190.905,00

61.537.355,00

1. Trade debtors / accounts receivable:

46.716.474,00

34.164.317,00

41.232.933,00

30.511.254,00

28.159.525,00

2. Accounts receivable, Group companies:

32.398.573,00

27.902.384,00

28.342.658,00

13.904.882,00

23.581.361,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

6.948.456,00

232.936,00

119.247,00

340.538,00

439.304,00

5. Staff:

0,00

6. Public bodies:

24.902.241,00

24.437.823,00

25.324.846,00

12.434.231,00

9.357.165,00

7. Provisions:

0,00

IV. Short-term investments:

830.629,00

8.256.971,00

38.341.563,00

21.709.788,00

4.649.593,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

60.830,00

8.031.424,00

12.898.386,00

6.929.563,00

26.875,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

0,00

12.091,00

111.888,00

121.718,00

6. Other receivables:

0,00

7. Shor term guarantees and deposits:

769.799,00

225.547,00

25.431.086,00

14.668.337,00

4.501.000,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

97.460.082,00

36.989.306,00

9.420.204,00

16.578.506,00

9.513.463,00

VII. Prepayments and accrued income:

575.750,00

657.002,00

448.607,00

1.085.102,00

369.407,00

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

421.089.755,00

384.811.077,00

324.336.769,00

213.660.754,00

158.783.198,00

EQUIVALENCIA

LIABILITIES

2013

2012

2011

2010

2009

A) EQUITY:

89.131.094,00

183.148.555,00

96.560.392,00

54.440.896,00

31.574.588,00

I. Subscribed capital:

18.529.565,00

10.405.872,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

7.251.575,00

80.983.740,00

39.999.551,00

22.506.372,00

8.151.241,00

1. Legal reserve:

3.705.912,00

2.081.175,00

1.891.146,00

589.398,00

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:

3.545.663,00

77.277.828,00

37.918.376,00

20.615.226,00

7.561.843,00

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:

63.349.954,00

83.635.250,00

38.031.276,00

21.528.652,00

13.017.475,00

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:

3.984.563,00

0,00

2.300.000,00

1. Provisions for pension fund and other similar obligations:

3.984.563,00

0,00

2.300.000,00

2. Provisions for taxes:

0,00

3. Other provisions:

0,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

98.214.028,00

13.328.207,00

89.694.958,00

71.975.813,00

55.014.450,00

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:

69.631.741,00

2.734.521,00

5.217.549,00

3.826.090,00

4.806.734,00

1. Loans and other liabilities:

69.631.741,00

2.734.521,00

4.220.192,00

1.894.445,00

1.977.616,00

2. Long-term liabilities from capital leases:

0,00

997.357,00

1.931.645,00

2.829.118,00

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

16.278.608,00

838.631,00

75.787.043,00

60.480.643,00

44.888.062,00

1. Amounts owed to group companies:

16.278.608,00

838.631,00

75.787.043,00

60.480.643,00

44.888.062,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

12.303.679,00

9.755.055,00

8.690.366,00

7.669.080,00

5.319.654,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

191.896,00

0,00

3.942.983,00

4.003.701,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

12.303.679,00

9.563.159,00

8.690.366,00

3.726.097,00

1.315.953,00

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:

227.168.913,00

186.625.126,00

134.775.233,00

84.944.045,00

69.894.160,00

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:

20.258.340,00

1.759.537,00

6.926.271,00

1.053.000,00

1.409.748,00

1. Loans and other liabilities:

20.258.340,00

762.180,00

5.991.984,00

177.792,00

589.883,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

0,00

997.357,00

934.287,00

875.208,00

819.865,00

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

77.564.604,00

79.612.764,00

36.216.237,00

6.401.355,00

10.310.588,00

1. Amounts owed to group companies:

77.564.604,00

79.612.764,00

36.216.237,00

6.401.355,00

10.310.588,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

122.569.170,00

99.787.064,00

88.606.642,00

73.062.745,00

56.861.984,00

1. Advanced payments from customers:

4.007.228,00

2.949.981,00

9.743.820,00

4.806.122,00

3.643.234,00

2. Amounts owed for purchases of goods or services:

118.561.942,00

96.837.083,00

78.862.822,00

68.256.623,00

53.218.750,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

6.772.423,00

5.445.617,00

2.943.970,00

4.426.945,00

1.311.840,00

1. Public bodies:

5.418.999,00

2.456.030,00

2.783.992,00

3.716.078,00

900.067,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

625.457,00

2.226.889,00

24.164,00

1.799,00

0,00

4. Wages and salaries payable:

727.967,00

762.698,00

135.814,00

709.068,00

411.773,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

4.376,00

20.144,00

82.113,00

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

2.591.157,00

1.709.189,00

3.306.186,00

0,00

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

421.089.755,00

384.811.077,00

324.336.769,00

213.660.754,00

158.783.198,00

EQUIVALENCIA

DEBIT

2013

2012

2011

2010

2009

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

450.906.608,00

385.597.802,00

321.759.324,00

265.565.500,00

180.259.329,00

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

0,00

A.2. Supplies:

207.388.281,00

174.735.496,00

157.679.850,00

120.558.719,00

90.620.258,00

a) Stock consumption:

191.635.409,00

167.451.003,00

147.963.030,00

104.095.657,00

72.151.607,00

b) Consumption of raw materials and miscellaneous consumable ones:

15.752.872,00

7.284.493,00

9.716.820,00

16.463.062,00

18.468.651,00

c) Miscellaneous external expenditure:

0,00

A.3. Staff costs:

47.939.996,00

42.103.338,00

34.820.313,00

25.616.561,00

17.034.664,00

a) Wages, salaries et al.:

36.988.751,00

32.369.853,00

26.460.948,00

19.358.850,00

13.755.746,00

b) Social security costs:

10.951.245,00

9.733.485,00

8.359.365,00

6.257.711,00

3.278.918,00

A.4. Depreciation expense:

13.134.933,00

10.749.740,00

7.186.247,00

4.919.276,00

3.484.046,00

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

6.071.991,00

8.062.393,00

2.215.894,00

16.143.996,00

6.109.071,00

a) Stock provision variation:

1.426.520,00

4.095.000,00

943.111,00

11.940.546,00

3.229.785,00

b) Variation in provision and bad debt losses:

4.645.471,00

3.967.393,00

1.272.783,00

4.203.450,00

2.879.286,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

127.425.374,00

116.722.535,00

102.589.618,00

84.833.386,00

52.869.412,00

a) External services:

127.005.284,00

116.653.792,00

102.321.272,00

84.654.871,00

52.772.543,00

b) Taxes:

420.090,00

68.743,00

268.346,00

178.515,00

96.869,00

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):

108.616.788,00

66.551.713,00

31.910.108,00

32.125.923,00

22.959.810,00

A.7. Financial and similar charges:

8.853.061,00

4.398.449,00

5.904.781,00

2.748.371,00

1.996.171,00

a) Due to liabilities with companies of the group:

2.094.800,00

3.894.703,00

4.064.555,00

2.202.938,00

752.621,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

6.758.261,00

503.746,00

1.840.226,00

545.433,00

1.243.550,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

8.366.984,00

6.798.363,00

1.737.655,00

1.566.776,00

2.371.006,00

A.9. Exchange losses:

0,00

2.185.407,00

1.869.452,00

117.489,00

356.166,00

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

0,00

36.925.618,00

13.876.682,00

0,00

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

95.075.942,00

103.477.331,00

45.786.790,00

30.572.822,00

18.436.010,00

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

71.965,00

0,00

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

2.721.639,00

2.669.835,00

0,00

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

0,00

A.13. Extraordinary expenses:

0,00

6.138,00

0,00

51.269,00

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

16.756,00

0,00

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

92.282.338,00

100.807.496,00

45.780.652,00

30.589.578,00

18.384.741,00

A.15. Corporation tax:

28.932.384,00

17.172.246,00

7.749.376,00

9.060.926,00

5.367.266,00

A.16. Miscellaneous taxes:

0,00

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

63.349.954,00

83.635.250,00

38.031.276,00

21.528.652,00

13.017.475,00

EQUIVALENCIA

CREDIT

2013

2012

2011

2010

2009

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

514.256.562,00

469.233.052,00

359.790.600,00

287.094.152,00

193.276.804,00

B.1. Net total sales:

452.087.225,00

375.186.409,00

323.849.841,00

279.550.845,00

185.141.519,00

a) Sales:

452.087.225,00

375.186.409,00

323.849.841,00

279.550.845,00

185.141.519,00

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

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

0,00

B.4. Miscellaneous operating income:

58.490.138,00

43.738.806,00

12.552.189,00

4.647.016,00

7.935.742,00

a) Auxiliary income and other from current management:

58.436.712,00

43.727.785,00

12.502.351,00

4.609.779,00

7.893.851,00

b) Grants:

53.426,00

11.021,00

49.838,00

37.237,00

41.891,00

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

43.000.000,00

20.000.000,00

0,00

a) In companies of the group:

0,00

43.000.000,00

20.000.000,00

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:

1.721.612,00

7.307.837,00

3.388.570,00

2.879.535,00

199.543,00

a) From companies of the group:

1.237.219,00

1.290.242,00

988.420,00

155.170,00

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

484.393,00

590.566,00

1.049.139,00

2.724.365,00

199.543,00

d) Profit on financial investment:

0,00

5.427.029,00

1.351.011,00

0,00

B.8. Exchange positive differences:

1.957.587,00

0,00

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

13.540.846,00

0,00

1.553.101,00

4.523.800,00

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

16.756,00

0,00

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):

2.793.604,00

2.669.835,00

6.138,00

0,00

51.269,00

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

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

92.282.338,00

100.807.496,00

45.780.652,00

30.589.578,00

18.384.742,00

2. Results adjustments.: 61200

40.407.905,00

-15.443.650,00

4.162.522,00

22.252.052,00

14.116.917,00

a) Fixed Assets Amortization (+).: 61201

13.134.933,00

10.749.740,00

7.186.247,00

4.919.276,00

3.484.046,00

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

10.730.194,00

0,00

2.680.766,00

16.009.772,00

6.109.071,00

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

11.010.487,00

14.860.756,00

1.272.783,00

0,00

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

0,00

2.669.835,00

0,00

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

0,00

1.274,00

g) Financial income (-).: 61207

-1.721.612,00

-1.880.808,00

-2.037.559,00

-2.879.535,00

-199.543,00

h) Financial Expenses (+). : 61208

8.853.061,00

4.398.449,00

5.904.781,00

2.748.371,00

1.996.171,00

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

-1.957.587,00

2.185.407,00

1.869.452,00

117.489,00

356.166,00

j) Reasonable Value Variation in Financial Instruments (+/-).: 61210

358.429,00

-5.427.029,00

-1.351.011,00

1.336.679,00

2.369.732,00

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

0,00

-43.000.000,00

-11.362.937,00

0,00

3. Changes in current capital equity.: 61300

-10.091.219,00

16.308.965,00

-44.038.449,00

-17.522.967,00

-23.583.208,00

a) Stock (+/-).: 61301

-15.507.031,00

3.739.451,00

1.924.418,00

-33.777.439,00

-25.056.518,00

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

-28.409.337,00

9.641.183,00

-36.527.373,00

4.812.130,00

-39.491.730,00

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

6.073.229,00

-15.311.464,00

-24.618.867,00

-715.694,00

-183.355,00

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

25.742.064,00

14.113.031,00

12.492.505,00

13.870.719,00

38.848.395,00

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

2.009.856,00

-9.728.933,00

1.006.186,00

0,00

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

0,00

13.855.697,00

1.684.682,00

-1.712.683,00

2.300.000,00

4. Other cash flows for operating activities.: 61400

-38.227.515,00

23.939.064,00

4.530.916,00

-9.600.012,00

-7.912.889,00

a) Interest payments (-). : 61401

-8.853.061,00

-4.398.449,00

-5.904.781,00

-2.748.371,00

-1.996.171,00

b) Dividend payment collection (+). : 61402

0,00

43.000.000,00

20.000.000,00

0,00

c) Interest collection (+). : 61403

1.721.612,00

1.880.808,00

2.037.559,00

2.879.535,00

199.543,00

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

-31.096.066,00

-16.543.295,00

-11.601.862,00

-9.613.687,00

-6.116.261,00

e) Other payments (payment collection) (-/+) : 61405

0,00

-117.489,00

0,00

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

84.371.509,00

125.611.875,00

10.435.641,00

25.718.651,00

1.005.562,00

6. Payments for investment (-).: 62100

-34.386.201,00

-100.278.874,00

-72.005.348,00

-25.928.225,00

-10.539.018,00

a) Companies of the group and affiliates. : 62101

-12.887.712,00

-51.577.537,00

-35.029.839,00

-250.000,00

-28.149,00

b) Intangible fixed assets. : 62102

-4.021.442,00

-5.743.902,00

-10.053.188,00

-4.488.840,00

-2.122.126,00

c) Fixed assets. : 62103

-16.929.852,00

-42.957.435,00

-26.922.321,00

-11.022.048,00

-4.177.409,00

e) Other financial assets. : 62105

-547.195,00

0,00

-10.167.337,00

-4.211.334,00

7. Divestment payment collection (+). : 62200

72.862.863,00

38.045.813,00

2.617.964,00

9.830,00

15.311,00

a) Companies of the group and affiliates. : 62201

72.862.863,00

0,00

b) Intangible fixed assets. : 62202

0,00

7.526,00

0,00

c) Fixed assets. : 62203

0,00

12.792.475,00

2.617.964,00

0,00

15.311,00

e) Other financial assets. : 62205

0,00

25.245.812,00

0,00

9.830,00

0,00

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

38.476.662,00

-62.233.061,00

-69.387.384,00

-25.918.395,00

-10.523.707,00

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

0,00

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

0,00

7.458.882,00

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

88.384.978,00

-35.809.712,00

51.793.441,00

7.264.786,00

15.112.024,00

a) Issuance : 63201

89.574.231,00

0,00

51.793.441,00

8.663.020,00

40.662.229,00

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

86.393.380,00

0,00

3.344.114,00

0,00

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

3.180.851,00

0,00

48.449.327,00

8.663.020,00

40.662.229,00

b) Repayment and amortization of : 63207

-1.189.253,00

-35.809.712,00

0,00

-1.398.234,00

-25.550.205,00

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

-1.189.253,00

-5.255.141,00

0,00

-1.398.234,00

-20.127.591,00

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

0,00

-30.554.571,00

0,00

-2.677.912,00

5. Other debts (-). : 63212

0,00

-2.744.702,00

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

-150.000.000,00

0,00

a) Dividends (-).: 63301

-150.000.000,00

0,00

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

-61.615.022,00

-35.809.712,00

51.793.441,00

7.264.786,00

15.112.024,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

-762.373,00

0,00

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

60.470.776,00

27.569.102,00

-7.158.302,00

7.065.042,00

5.593.879,00

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

36.989.306,00

9.420.204,00

16.578.506,00

9.513.464,00

3.919.584,00

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

97.460.082,00

36.989.306,00

9.420.204,00

16.578.506,00

9.513.463,00

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:

0,13 %

0,02 %

0,07 %

0,01 %

82,03 %

156,17 %

EBITDA over Sales:

26,93 %

10,04 %

20,60 %

9,23 %

30,71 %

8,80 %

Cash Flow Yield:

0,14 %

0,01 %

0,07 %

0,00 %

100,45 %

Profitability

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

28,25 %

6,28 %

23,59 %

5,22 %

19,78 %

20,18 %

Total economic profitability:

24,02 %

3,48 %

27,34 %

2,49 %

-12,15 %

39,67 %

Financial profitability:

72,63 %

3,99 %

45,76 %

1,32 %

58,73 %

202,43 %

Margin:

20,73 %

5,79 %

15,25 %

4,85 %

35,92 %

19,44 %

Mark-up:

18,07 %

3,74 %

24,06 %

1,59 %

-24,89 %

135,82 %

Solvency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,42

0,14

0,20

0,12

111,92

18,77

Acid Test:

0,83

0,85

0,66

0,85

26,70

-0,19

Working Capital / Investment:

0,08

0,02

-0,01

0,03

1.029,55

-13,54

Solvency:

1,23

1,17

1,04

1,17

18,08

-0,21

Indebtedness

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

3,64

1,45

1,10

1,63

230,50

-11,34

Borrowing Composition:

0,42

1,00

0,07

1,02

492,69

-1,98

Repayment Ability:

5,49

66,29

7,30

184,45

-24,81

-64,06

Warranty:

1,27

1,70

1,91

1,62

-33,65

5,03

Generated resources / Total creditors:

0,26

0,08

0,52

0,07

-50,51

19,65

Efficiency

2013

2012

Variación 2013 - 2012

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

3,54

1,80

2,84

1,73

24,81

4,53

Turnover of Collection Rights :

5,34

5,06

5,38

4,79

-0,77

5,53

Turnover of Payment Entitlements:

2,58

3,68

2,85

3,52

-9,46

4,63

Stock rotation:

5,26

7,42

5,65

6,52

-6,94

13,80

Assets turnover:

1,36

1,08

1,55

1,08

-11,87

0,62

Borrowing Cost:

2,67

2,85

2,19

2,95

22,05

-3,43

> 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:

0,13 %

0,07 %

-0,02 %

0,03 %

EBITDA over Sales:

26,93 %

20,60 %

12,07 %

13,25 %

14,28 %

Cash Flow Yield:

0,14 %

0,07 %

-0,02 %

0,03 %

0,04 %

Profitability

2013

2012

2011

2010

2009

Operating economic profitability:

28,25 %

23,59 %

13,48 %

17,61 %

15,67 %

Total economic profitability:

24,02 %

27,34 %

15,52 %

12,84 %

Financial profitability:

72,63 %

45,76 %

38,36 %

40,55 %

41,25 %

Margin:

20,73 %

15,25 %

9,49 %

11,30 %

11,89 %

Mark-up:

18,07 %

24,06 %

13,61 %

10,76 %

9,55 %

Solvency

2013

2012

2011

2010

2009

Liquidity:

0,42

0,20

0,07

0,19

0,14

Acid Test:

0,83

0,66

1,09

1,04

1,06

Working Capital / Investment:

0,08

-0,01

0,24

0,36

0,35

Solvency:

1,23

1,04

1,65

1,95

1,82

Indebtedness

2013

2012

2011

2010

2009

Indebtedness level:

3,64

1,10

2,26

2,88

3,69

Borrowing Composition:

0,42

0,07

0,67

0,82

0,79

Repayment Ability:

5,49

7,30

-31,36

22,57

22,33

Warranty:

1,27

1,91

1,48

1,35

1,27

Generated resources / Total creditors:

0,26

0,52

0,21

0,24

0,16

Efficiency

2013

2012

2011

2010

2009

Productivity:

3,54

2,84

2,12

2,45

2,55

Turnover of Collection Rights :

5,34

5,38

3,73

5,53

3,21

Turnover of Payment Entitlements:

2,58

2,85

2,77

2,64

2,18

Stock rotation:

5,26

5,65

4,34

3,45

3,32

Assets turnover:

1,36

1,55

1,42

1,56

1,32

Borrowing Cost:

2,67

2,19

2,63

1,72

1,60

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

CincoDías.com

12/12/2014

Desigual abre su tienda flagship más grande del mundo en Barcelona

Companies related

LAS PROVINCIAS

21/11/2014

Desigual entra en México con un franquiciado con seis tiendas y 30 córners

Companies related

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Research Summary

The entity ABASIC nif Sl B63054068 was founded in Barcelona in January 2003 as a designing and selling company of clothes, footwear, accessories and attachments. We are informed of increased commercial activity. Conducted an analysis of the data in our possession, and economic information 2013, it is estimated that its overall structure is very favorable.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.87
UK Pound	1	Rs.98.89
Euro	1	Rs.70.73

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	ASH

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.


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


INVESTIGATION SUMMARY
The entity ABASIC nif Sl B63054068 was founded in Barcelona in January 2003 as a designing and selling company of clothes, footwear, accessories and attachments. We are informed of increased commercial activity. Conducted an analysis of the data in our possession, and economic information 2013, it is estimated that its overall structure is very favorable.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Identification

Activity

Number of Employees

Chronological Summary

Main Historic Changes

Breakdown of Owners' Equity

Updated Evolution of the Subscribed and Paid-in Capital

Active Social Bodies

Historical Social Bodies

Executive board

Defaults, Legal Claims and Insolvency Proceedings

Probability of default

Recommended commercial credit

LEGAL CLAIMS

Clients

Link List

Turnover

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Research Summary

Unit