MIRA INFORM REPORT

Report No. :	347657
Report Date :	07.11.2015

IDENTIFICATION DETAILS

Name :	CARUGIL SL

Registered Office :	Pol Ind El Tiro C/ Antonio Belmonte Abellan , 6 - Espinardo - 30100 - Murcia

Country :	Spain

Financials (as on) :	2014

Date of Incorporation :	22.12.1988

Legal Form :	Private Company

Line of Business :	Subject engaged in design, manufacture, commercialization and machinery after-sale services for the alimentary sector and other industrial sectors.

No. of Employee :	28 (2015)

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	Euro 590.000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Exist

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Spain

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SPAIN - ECONOMIC OVERVIEW

After experiencing a prolonged recession in the wake of the global financial crisis that began in 2008, in 2014 Spain marked the first full year of positive economic growth in seven years, largely due to increased private consumption. At the onset of the global financial crisis Spain's GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and continued contracting through most of 2013. In 2013 the government successfully shored up struggling banks - exposed to the collapse of Spain's depressed real estate and construction sectors - and in January 2014 completed an EU-funded restructuring and recapitalization program.

Until 2014, credit contraction in the private sector, fiscal austerity, and high unemployment weighed on domestic consumption and investment. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, but labor reforms prompted a modest reduction to 23.7% in 2014. High unemployment strained 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, but 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.

Exports were resilient throughout the economic downturn and helped to bring Spain's current account into surplus in 2013 for the first time since 1986, where it remained in 2014. Rising labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have helped to improve foreign investor interest in the economy and positive FDI flows have been restored.

The government's efforts to implement labor, pension, health, tax, and education reforms - aimed at supporting investor sentiment - have become overshadowed by political activity in 2015 in anticipation of the national parliamentary elections in November. Spain’s 2015 budget, published in September 2014, rolls back some recently imposed taxes in advance of the elections and leaves untouched the country’s value-added tax (VAT) regime, which continues to generate significantly lower revenue than the EU average. Spain’s borrowing costs are dramatically lower since their peak in mid-2012, and despite the recent uptic in economic activity, inflation has dropped sharply, from 1.5% in 2013 to nearly flat in 2014.

Source : CIA

EXECUTIVE SUMMARY

Name:

CARUGIL SL

NIF / Fiscal code:

B30164800

Status:

ACTIVE

Incorporation Date:

22/12/1988

Register Data

Last Publication in BORME:

21/10/2015 [Appointments]

Last Published Account Deposit:

2014

Share Capital:

270.546,16

Localization:

POL IND EL TIRO C/ ANTONIO BELMONTE ABELLAN , 6 - ESPINARDO - 30100 - MURCIA

Telephone - Fax - Email - Website:

Telephone. 968 858 159 / 968 858 044 / 968 858 032 Email. sales@carugil.es Website. www,carugil.com

Activity:

NACE:

2893 - Manufacture of machinery for food, beverage and tobacco processing

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

Subsidies:

5 for a total cost of 107628.63

Quality Certificate:

Maximum recommended commercial credit:

Euro 590.000

Payment Behaviour:

According to the agreed terms

Prospects:

Consolidation

Industry situation:

Maturity

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)

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

HERNANDEZ VICENTE FAMILIA

75 %

CARLOS RUBIO GIL

25 %

Enquiry Details

Business address regime:

Propiedad

Identification
Social Denomination:	CARUGIL SL
NIF / Fiscal code:	B30164800
Corporate Status:	ACTIVE
Start of activity:	1966
Registered Office:	POL IND EL TIRO C/ ANTONIO BELMONTE ABELLAN , 6
Locality:	ESPINARDO
Province:	MURCIA
Postal Code:	30100
Telephone:	968 858 159 / 968 858 044 / 968 858 032
Fax:	968 835 910
Website:	www,carugil.com
Email:	sales@carugil.es
Interviewed Person:	Empleado

Activity

NACE:

2893

Additional Information:

It''s engaged in design, manufacture, commercialization and machinery after-sale services for the alimentary sector and other industrial sectors.

Additional Address:

Registered office and offices POL IND EL TIRO C/ ANTONIO BELMONTE ABELLAN , 6 30100 ESPINARDO ( MURCIA ).

Import / export:

IMPORT / EXPORT

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2015

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

Chronological Summary

Year

Act

1990

Accounts deposit (year 1989)

1991

Accounts deposit (year 1990)

1992

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

1993

Accounts deposit (year 1992)

1994

Accounts deposit (year 1993)

1995

Accounts deposit (year 1994)

1996

Accounts deposit (year 1995)

1997

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

1998

Accounts deposit (year 1997) Increase of Capital (1)

1999

Accounts deposit (year 1998)

2000

Accounts deposit (year 1999) Increase of Capital (1)

2001

Accounts deposit (year 2000) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

2002

Accounts deposit (year 2001)

2003

Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Correction (2) Other Concepts/ Events (1)

2004

Accounts deposit (year 2002, 2003) Appointments/ Re-elections (1)

2005

Accounts deposit (year 2004) Appointments/ Re-elections (1) Other Concepts/ Events (1)

2006

Accounts deposit (year 2005) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2) Other Concepts/ Events (1)

2008

Accounts deposit (year 2007)

2010

Accounts deposit (year 2008, 2009)

2012

Accounts deposit (year 2010, 2011)

2013

Accounts deposit (year 2012)

2014

Accounts deposit (year 2013)

2015

Accounts deposit (year 2014) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1)

Breakdown of Owners' Equity

Registered Capital:

270.546,16

Paid up capital:

270.546,16

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

26/10/1998

Increase of Capital

96.162

102.172

26/07/2000

Increase of Capital

168.376

270.546

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

FRANCISCO JOSE HERNANDEZ ARNALDOS

14/10/2015

VICE CHAIRMAN

MARIA DE LA PAZ RUBIO BELMAR

14/10/2015

MEMBER OF THE BOARD

FRANCISCO JOSE HERNANDEZ ARNALDOS

14/10/2015

MARIA DE LA PAZ RUBIO BELMAR

14/10/2015

MARIA REMEDIOS HERNANDEZ VIDAL

14/10/2015

FINCA MONTEVERDE SL

14/10/2015

COMBINED PROXY

FRANCISCO JOSE HERNANDEZ ARNALDOS

31/03/2003

FRANCISCO HERNANDEZ VICENTE

31/03/2003

JUAN ANTONIO HERNANDEZ VICENTE

31/03/2003

ISABEL ILLAN PEREZ

31/03/2003

MARIA CARMEN RUBIO BELMAR

31/03/2003

MARI PAZ RUBIO BELMAR

31/03/2003

MARIA REMEDIOS HERNANDEZ VIDAL

31/03/2003

FRANCISCO HERNANDEZ VIDAL

31/03/2003

CARLOS RUBIO GIL

31/03/2003

SECRETARY

MARIA REMEDIOS HERNANDEZ VIDAL

14/10/2015

VICE SECRETARY

FINCA MONTEVERDE SL

14/10/2015

MANSANET SANTACREU JOAQUIN

28/09/2006

REPRESENTATIVE

MANSANET SANTACREU JOAQUIN

28/09/2006

ACCOUNTS' AUDITOR / HOLDER

DIEGO BARBERAN MUÑOZ

02/01/2004

DEPUTY ACCOUNTS' AUDITOR

ANTONIO VERDU MARTINEZ

02/01/2004

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

CARLOS RUBIO GIL

MEMBER OF THE BOARD

21/10/1997

PRESIDENT

21/10/1997

PROXY

21/10/1997

CHIEF EXECUTIVE OFFICER

15/10/2001

PRESIDENT

15/10/2001

MEMBER OF THE BOARD

15/10/2001

MEMBER OF THE BOARD

31/03/2003

PRESIDENT

31/03/2003

COMBINED CHIEF EXECUTIVE OFFICER

31/03/2003

PRESIDENT

21/03/2006

MEMBER OF THE BOARD

21/03/2006

MEMBER OF THE BOARD

14/10/2015

PRESIDENT

14/10/2015

FINCA MONTEVERDE SL

MEMBER OF THE BOARD

28/09/2006

VICE SECRETARY

28/09/2006

VICE SECRETARY

14/10/2015

MEMBER OF THE BOARD

14/10/2015

MEMBER OF THE BOARD

21/03/2006

FRANCISCO HERNANDEZ VICENTE

SECRETARY

31/03/2003

SECRETARY

21/03/2006

MEMBER OF THE BOARD

15/10/2001

MEMBER OF THE BOARD

31/03/2003

MEMBER OF THE BOARD

21/03/2006

PROXY

21/10/1997

SECRETARY

21/10/1997

SECRETARY

15/10/2001

CHIEF EXECUTIVE OFFICER

15/10/2001

COMBINED CHIEF EXECUTIVE OFFICER

31/03/2003

FRANCISCO JAVIER HERNANDEZ BAÑON

MEMBER OF THE BOARD

21/10/1997

VICE CHAIRMAN

21/10/1997

VICE CHAIRMAN

15/10/2001

CHIEF EXECUTIVE OFFICER

15/10/2001

MEMBER OF THE BOARD

15/10/2001

MEMBER OF THE BOARD

31/03/2003

COMBINED CHIEF EXECUTIVE OFFICER

31/03/2003

VICE SECRETARY

31/03/2003

FRANCISCO JOSE HERNANDEZ ARNALDOS

MEMBER OF THE BOARD

21/03/2006

MEMBER OF THE BOARD

14/10/2015

CHIEF EXECUTIVE OFFICER

15/10/2001

MEMBER OF THE BOARD

15/10/2001

MEMBER OF THE BOARD

31/03/2003

COMBINED CHIEF EXECUTIVE OFFICER

31/03/2003

VICE SECRETARY

15/10/2001

VICE SECRETARY

21/10/1997

VICE CHAIRMAN

14/10/2015

HERBA SL

MEMBER OF THE BOARD

21/03/2006

HERNANDEZ VICENTE FRANCISCO

ADMINISTRATOR

23/07/1992

HERNANDEZ VICENTE JUAN ANTONIO

ADMINISTRATOR

23/07/1992

HERNANDEZ VICENTE JUAN BENITO

ADMINISTRATOR

23/07/1992

ISABEL ILLAN PEREZ

MEMBER OF THE BOARD

21/10/1997

MEMBER OF THE BOARD

15/10/2001

JUAN ANTONIO HERNANDEZ VICENTE

MEMBER OF THE BOARD

21/03/2006

VICE CHAIRMAN

31/03/2003

MEMBER OF THE BOARD

31/03/2003

PROXY

21/10/1997

VICE CHAIRMAN

21/03/2006

JUAN BENITO HERNANDEZ VICENTE

PROXY

21/10/1997

MARI PAZ RUBIO BELMAR

MEMBER OF THE BOARD

31/03/2003

MEMBER OF THE BOARD

21/03/2006

MARIA DOLORES BELMAR ROS

MEMBER OF THE BOARD

21/10/1997

MEMBER OF THE BOARD

15/10/2001

MARIA ELVIRA HERNANDEZ BAÑON

MEMBER OF THE BOARD

21/10/1997

MEMBER OF THE BOARD

31/03/2003

MEMBER OF THE BOARD

15/10/2001

MARIA REMEDIOS HERNANDEZ VIDAL

MEMBER OF THE BOARD

21/10/1997

MEMBER OF THE BOARD

15/10/2001

MEMBER OF THE BOARD

31/03/2003

MEMBER OF THE BOARD

21/03/2006

VICE SECRETARY

21/03/2006

MEMBER OF THE BOARD

14/10/2015

SECRETARY

14/10/2015

PEDRO MECA ALCAZAR

ACCOUNTS' AUDITOR / HOLDER

02/01/2004

RUBIO GIL CARLOS

ADMINISTRATOR

23/07/1992

Executive board

Post

NIF

Name

FINANCIAL DIRECTOR

JUAN ALARTE

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

---

31/01/2011

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> Basis for scoring

Positive Factors

Adverse Factors

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

The current debt represents a 21.46of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

CARUGIL SL obtains economic profitability from the necessary investments in the development of its activity in comparison with its assets.

High financial profitability. Net return from the company's main activity performed using its own equity is high. This income return has decreased in comparison with the previous financial year.

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

CARUGIL SL presents a low turnover of the current assets , which could indicate an inefficient use of non-current assets due to the lacking of enough operating income capacity based on the dedicated assets available for sale.

No Company's subsidiaries or branches are known.

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

In the past year the company has suffered terminations or resignations of corporate bodies . Instability in the management and administration of the company may affect the operational structure of the company disfavoring the long-term growth.

Probability of default

> Estimated Probability of Default for the next 12 months: 0.917 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

289 Manufacture of other special-purpose machinery

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 97.00% of the companies of the sector CARUGIL 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 0.917%.

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 590.000 € (Guideline value of outstanding commercial balance be awarded to or maintained with the company queried)

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

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

No se han publicado

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

No se han publicado

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

1 Incidence for a total cost of 0,00 E

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

Proceedings before the Industrial Tribunal

No se han publicado

Incidences Detailed

Incidences with the Tax Agency

BY THE GOVERNMENT TAX AGENCY DE MADRID - Date 31/01/2011

Last Published Stage:

EXECUTION NOTIFICATION

Record Number:

1099211799574

Amount of the incidence:

0,00 E

Requested by:

HACIENDA PUBLICA

Published domicile:

(DESCONOCIDA)

Source:

B.O.E. Nº33, 2011 PAGINA 11898

Link List

HAS IN ITS ADMINISTRATION BOARD TO:

1 Entities

IS RELATED WITH:

1 Entities

SHAREHOLDERS:

2 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

HERNANDEZ VICENTE FAMILIA

CARLOS RUBIO GIL

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

FINCA MONTEVERDE SL

MURCIA

HAS IN ITS ADMINISTRATION BOARD TO

FINCA MONTEVERDE SL

MURCIA

Turnover

Total Sales 2014

3.374.231,12

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

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2014

Normales

May 2015

2013

Normales

November 2014

2012

Normales

October 2013

2011

Normales

July 2012

2010

Normales

March 2012

2009

Normales

October 2010

2008

Normales

November 2009

2007

Normales

February 2008

2007

Normales

July 2008

2006

Normales

No publicado en BORME

2005

Normales

October 2006

2004

Normales

August 2005

2003

Normales

July 2004

2002

Normales

July 2004

2001

Normales

August 2002

2000

Normales

July 2001

1999

Normales

July 2000

1998

Normales

July 1999

1997

Normales

July 1998

1996

Normales

August 1997

1995

Normales

July 1996

1994

Normales

July 1995

1993

Normales

July 1994

1992

Normales

July 1993

1991

Normales

August 1992

1990

Normales

July 1991

1989

Normales

August 1990

The data in the report regarding the last Company Accounts submitted by the company is taken from the TRADE REGISTER serving the region in which the company's address is located 31/12/2014

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

Information corresponding to the fiscal year 2014 2013 2012 2011 2010 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2014 2013 2012 2011 2010 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, created such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2014

2013

2012

2011

2010

A) NON-CURRENT ASSETS: 11000

867.610,00

908.482,00

948.081,00

1.001.573,00

932.967,00

I. Intangible fixed assets : 11100

5.008,00

2.891,00

4.336,00

0,00

II. Tangible fixed assets : 11200

862.603,00

905.591,00

943.745,00

1.001.573,00

932.967,00

III. Real estate investment: 11300

0,00

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

0,00

V. Long-term financial investments: 11500

0,00

VI. Assets for deferred tax : 11600

0,00

VII. Non-current trade debtors : 11700

0,00

B) CURRENT ASSETS: 12000

3.161.221,00

3.132.927,00

2.228.445,00

2.508.028,00

2.189.654,00

I. Stocks : 12200

819.754,00

1.145.909,00

694.706,00

805.849,00

927.680,00

II. Trade debtors and others receivable accounts : 12300

1.210.200,00

388.739,00

1.058.838,00

1.285.787,00

894.357,00

1. Trade debtors / accounts receivable: 12380

1.209.620,00

324.541,00

1.028.007,00

1.285.787,00

892.096,00

a) Long-term receivables from sales and services supplied : 12381

0,00

b) Customers for sales and provisions of services : 12382

1.209.620,00

324.541,00

1.028.007,00

1.285.787,00

892.096,00

2. Called up share capital: 12370

0,00

3. Other accounts receivable : 12390

580,00

64.198,00

30.831,00

0,00

2.261,00

III. Short-term investment in Group companies and associates: 12400

0,00

IV. Short-term financial investments : 12500

973.968,00

1.407.362,00

312.705,00

353.544,00

300.405,00

V. Short-term accruals : 12600

11.248,00

54.536,00

10.376,00

10.674,00

33.416,00

VI. Cash and other equivalent liquid assets : 12700

146.052,00

136.381,00

151.820,00

52.174,00

33.795,00

TOTAL ASSETS (A + B) : 10000

4.028.831,00

4.041.409,00

3.176.526,00

3.509.601,00

3.122.621,00

ORIGINAL

Liabilities and Net Worth

2014

2013

2012

2011

2010

A) NET WORTH: 20000

3.164.420,00

2.662.777,00

2.285.630,00

1.961.739,00

1.788.845,00

A-1) Shareholders' equity: 21000

3.154.144,00

2.651.359,00

2.285.630,00

1.961.739,00

1.788.845,00

I. Capital: 21100

270.546,00

1. Registered capital : 21110

270.546,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

2.380.812,00

2.015.084,00

1.691.193,00

1.518.299,00

1.458.764,00

IV. (Common stock equity): 21400

0,00

V. Profit or loss brought forward: 21500

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

502.785,00

365.728,00

323.891,00

172.894,00

59.535,00

VIII. (Interim dividend): 21800

0,00

A-2) Changes in net worth : 22000

0,00

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

10.276,00

11.418,00

0,00

B) NON-CURRENT LIABILITIES: 31000

0,00

243.854,00

267.978,00

495.483,00

442.728,00

I. Long-term provisions: 31100

0,00

22.019,00

II. Long-term creditors : 31200

0,00

243.854,00

267.978,00

495.483,00

420.709,00

1. Amounts owed to credit institutions: 31220

0,00

2. Creditors from financial leasing : 31230

0,00

23.145,00

47.269,00

74.774,00

0,00

3. Other long-term creditors : 31290

0,00

220.709,00

420.709,00

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

864.411,00

1.134.778,00

622.917,00

1.052.379,00

891.048,00

I. Short-term provisions: 32200

0,00

II. Short-term creditors : 32300

23.145,00

29.536,00

30.556,00

88.678,00

171.610,00

1. Amounts owed to credit institutions: 32320

0,00

64.804,00

167.500,00

2. Creditors from financial leasing : 32330

23.145,00

26.485,00

27.505,00

23.874,00

0,00

3. Other short-term creditors : 32390

0,00

3.051,00

0,00

4.111,00

III. Short-term amounts owed to group and associated companies: 32400

0,00

IV. Trade creditors and other accounts payable: 32500

841.266,00

1.105.243,00

592.361,00

963.701,00

719.438,00

1. Suppliers: 32580

211.838,00

387.462,00

190.304,00

311.160,00

308.322,00

a) Long-term debts : 32581

0,00

b) Short-term debts : 32582

211.838,00

387.462,00

190.304,00

311.160,00

308.322,00

2. Other creditors: 32590

629.428,00

717.780,00

402.057,00

652.541,00

411.116,00

V. Short-term accruals : 32600

0,00

VI. Special short-term debts : 32700

0,00

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

4.028.831,00

4.041.409,00

3.176.526,00

3.509.601,00

3.122.621,00

ORIGINAL

Profit and Loss

2014

2013

2012

2011

2010

1. Net turnover: 40100

3.374.231,00

2.410.199,00

2.491.554,00

3.082.237,00

3.579.039,00

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

-359.047,00

387.788,00

7.263,00

-157.528,00

-57.396,00

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

0,00

117.575,00

4. Supplies : 40400

-952.727,00

-1.010.798,00

-752.151,00

-1.078.641,00

-1.855.361,00

5. Other operating income: 40500

24.097,00

40.544,00

47.680,00

19.812,00

6.229,00

6. Personnel costs: 40600

-972.705,00

-1.010.744,00

-956.449,00

-1.121.378,00

-1.234.714,00

7. Other operating costs: 40700

-397.564,00

-288.386,00

-310.668,00

-427.384,00

-391.463,00

8. Amortisation of fixed assets: 40800

-56.520,00

-39.599,00

-59.273,00

-46.820,00

-46.611,00

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

1.142,00

0,00

5.602,00

10. Excess provisions : 41000

0,00

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

0,00

12. Other results : 41300

-100,00

-250,00

0,00

-6.149,00

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

660.807,00

488.904,00

467.705,00

270.297,00

116.751,00

13. Financial income : 41400

47.768,00

34.026,00

15.940,00

15.667,00

6.713,00

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

0,00

b) Other financial income: 41490

47.768,00

34.026,00

15.940,00

15.667,00

6.713,00

14. Financial expenditure : 41500

-11.574,00

-21.883,00

-41.518,00

-55.091,00

-42.494,00

15. Changes in fair value of financial instruments : 41600

0,00

16. Exchange rate differences: 41700

-165,00

-6,00

-855,00

-347,00

-455,00

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

0,00

18. 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

B) FINANCIAL REVENUE ( 13 + 14 + 15 + 16 + 17 +18 ) : 49200

36.029,00

12.136,00

-26.432,00

-39.771,00

-36.237,00

C) NET RESULT BEFORE TAXES ( A + B ) : 49300

696.836,00

501.040,00

441.273,00

230.525,00

80.514,00

19. Income taxes : 41900

-194.051,00

-135.312,00

-117.382,00

-57.631,00

-20.979,00

D) RESULT OF THE PERIOD ( C + 19 ) : 49500

502.785,00

365.728,00

323.891,00

172.894,00

59.535,00

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

Information corresponding to the fiscal year 2014 2013 2012 2011 2010 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, such criteria using its own methodology. To view details on the methodology 2014 2013 2012 2011 2010 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2014

2013

2012

2011

2010

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

867.610,00

908.482,00

948.081,00

1.001.573,00

932.967,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

5.008,00

2.891,00

4.336,00

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:

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:

862.603,00

905.591,00

943.745,00

1.001.573,00

932.967,00

1. Land and construction:

0,00

2. Technical installations and machinery:

0,00

3. Other installations, tools and furniture:

0,00

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

0,00

5. Other tangible assets:

0,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

0,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

0,00

6. Other receivables:

0,00

7. Long term guarantees and deposits:

0,00

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:

3.161.221,00

3.132.927,00

2.228.445,00

2.508.028,00

2.189.654,00

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

0,00

II. Stocks:

819.754,00

1.145.909,00

694.706,00

805.849,00

927.680,00

1. Goods for resale:

0,00

2. Raw materials and other consumables:

197.147,00

275.585,00

167.073,00

193.803,00

223.103,00

3. Goods in process and semifinished ones:

492.701,00

688.732,00

417.543,00

484.344,00

557.568,00

4. Finished products:

144.232,00

201.618,00

122.231,00

141.786,00

163.221,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

22.078,00

30.863,00

18.711,00

21.704,00

24.985,00

7. Provisions:

-36.404,00

-50.889,00

-30.851,00

-35.787,00

-41.197,00

III. Debtors:

1.210.200,00

388.739,00

1.058.838,00

1.285.787,00

894.357,00

1. Trade debtors / accounts receivable:

1.457.147,00

468.063,00

1.274.899,00

1.548.159,00

1.076.856,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

0,00

5. Staff:

26,00

8,00

23,00

28,00

19,00

6. Public bodies:

40.910,00

13.141,00

35.793,00

43.465,00

30.233,00

7. Provisions:

-287.884,00

-92.474,00

-251.877,00

-305.864,00

-212.751,00

IV. Short-term investments:

973.968,00

1.407.362,00

312.705,00

353.544,00

300.405,00

1. Equity investments in group companies:

973.968,00

1.407.362,00

312.705,00

353.544,00

300.405,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

0,00

6. Other receivables:

0,00

7. Shor term guarantees and deposits:

0,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

146.052,00

136.381,00

151.820,00

52.174,00

33.795,00

VII. Prepayments and accrued income:

11.248,00

54.536,00

10.376,00

10.674,00

33.416,00

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

4.028.831,00

4.041.409,00

3.176.526,00

3.509.601,00

3.122.621,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2014

2013

2012

2011

2010

A) EQUITY:

3.154.144,00

2.651.359,00

2.285.630,00

1.961.739,00

1.788.845,00

I. Subscribed capital:

270.546,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

2.380.812,00

2.015.084,00

1.691.193,00

1.518.299,00

1.458.764,00

1. Legal reserve:

142.789,00

120.855,00

101.429,00

91.060,00

87.489,00

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:

2.238.023,00

1.894.230,00

1.589.764,00

1.427.239,00

1.371.275,00

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:

502.785,00

365.728,00

323.891,00

172.894,00

59.535,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

10.276,00

11.418,00

0,00

1. Capital grants:

10.276,00

11.418,00

0,00

2. Unrealised exchange gains:

0,00

3. Other deferred income:

0,00

4. Public revenues to distribute in several financial years:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

22.019,00

1. Provisions for pension fund and other similar obligations:

0,00

22.019,00

2. Provisions for taxes:

0,00

3. Other provisions:

0,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

0,00

243.854,00

267.978,00

495.483,00

420.709,00

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

23.145,00

47.269,00

74.774,00

0,00

1. Loans and other liabilities:

0,00

2. Long-term liabilities from capital leases:

0,00

23.145,00

47.269,00

74.774,00

0,00

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

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

0,00

220.709,00

420.709,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

220.709,00

420.709,00

3. Long term guarantees and deposits received:

0,00

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:

864.411,00

1.134.778,00

622.917,00

1.052.379,00

891.048,00

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:

23.145,00

26.485,00

27.505,00

88.678,00

167.500,00

1. Loans and other liabilities:

0,00

64.804,00

167.500,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

23.145,00

26.485,00

27.505,00

23.874,00

0,00

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

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

841.266,00

1.105.243,00

592.361,00

963.701,00

719.438,00

1. Advanced payments from customers:

0,00

2. Amounts owed for purchases of goods or services:

211.838,00

387.462,00

190.304,00

311.160,00

308.322,00

3. Debts represented by notes payable:

629.428,00

717.780,00

402.057,00

652.541,00

411.116,00

V. Other creditors:

0,00

3.051,00

0,00

4.111,00

1. Public bodies:

0,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

0,00

3.051,00

0,00

4.111,00

4. Wages and salaries payable:

0,00

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):

4.028.831,00

4.041.409,00

3.176.526,00

3.509.601,00

3.122.621,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2014

2013

2012

2011

2010

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

2.944.452,00

2.506.828,00

2.238.546,00

2.944.821,00

3.655.623,00

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

359.047,00

0,00

157.528,00

57.396,00

A.2. Supplies:

970.494,00

1.029.647,00

766.177,00

1.098.756,00

1.889.960,00

a) Stock consumption:

0,00

b) Consumption of raw materials and miscellaneous consumable ones:

565.462,00

599.928,00

446.416,00

640.194,00

1.101.193,00

c) Miscellaneous external expenditure:

405.032,00

429.719,00

319.761,00

458.561,00

788.767,00

A.3. Staff costs:

972.705,00

1.010.744,00

956.449,00

1.121.378,00

1.234.714,00

a) Wages, salaries et al.:

736.944,00

765.763,00

724.628,00

849.582,00

935.448,00

b) Social security costs:

235.761,00

244.981,00

231.821,00

271.796,00

299.266,00

A.4. Depreciation expense:

56.520,00

39.599,00

59.273,00

46.820,00

46.611,00

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

-17.767,00

-18.850,00

-14.026,00

-20.115,00

-34.599,00

a) Stock provision variation:

-17.767,00

-18.850,00

-14.026,00

-20.115,00

-34.599,00

b) Variation in provision and bad debt losses:

0,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

397.564,00

288.386,00

310.668,00

427.384,00

391.463,00

a) External services:

393.217,00

285.233,00

307.271,00

422.712,00

387.183,00

b) Taxes:

4.347,00

3.153,00

3.397,00

4.673,00

4.280,00

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):

659.765,00

489.004,00

467.955,00

270.297,00

117.297,00

A.7. Financial and similar charges:

11.574,00

21.883,00

41.518,00

55.091,00

42.494,00

a) Due to liabilities with companies of the group:

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

11.574,00

21.883,00

41.518,00

55.091,00

42.494,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

165,00

6,00

855,00

347,00

455,00

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

36.029,00

12.136,00

0,00

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

695.794,00

501.140,00

441.523,00

230.525,00

81.060,00

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:

100,00

250,00

0,00

6.149,00

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):

1.042,00

0,00

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

696.836,00

501.040,00

441.273,00

230.525,00

80.514,00

A.15. Corporation tax:

194.051,00

135.312,00

117.382,00

57.631,00

20.979,00

A.16. Miscellaneous taxes:

0,00

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

502.785,00

365.728,00

323.891,00

172.894,00

59.535,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2014

2013

2012

2011

2010

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

3.447.238,00

2.872.557,00

2.562.437,00

3.117.715,00

3.715.157,00

B.1. Net total sales:

3.374.231,00

2.410.199,00

2.491.554,00

3.082.237,00

3.579.039,00

a) Sales:

3.374.231,00

2.410.199,00

2.491.554,00

3.082.237,00

3.579.039,00

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

387.788,00

7.263,00

0,00

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

0,00

117.575,00

B.4. Miscellaneous operating income:

24.097,00

40.544,00

47.680,00

19.812,00

6.229,00

a) Auxiliary income and other from current management:

24.097,00

40.544,00

47.680,00

19.812,00

6.229,00

b) Grants:

0,00

c) Liabilities and charges provisions surplus:

0,00

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

0,00

B.5. Income from equity investment:

0,00

a) In companies of the group:

0,00

b) In associated companies:

0,00

c) Third parties:

0,00

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

0,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

B.7. Miscellaneous interests or similar income:

47.768,00

34.026,00

15.940,00

15.667,00

6.713,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

47.768,00

34.026,00

15.940,00

15.667,00

6.713,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

0,00

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

0,00

26.432,00

39.771,00

36.237,00

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:

1.142,00

0,00

5.602,00

B.12. Extraordinary income:

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):

0,00

100,00

250,00

0,00

546,00

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

0,00

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

0,00

MERCANTILE REGISTRY.

CASHFLOW STATEMENT

Model: Normal

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

2014

2013

2012

2011

2010

1. Fiscal year result before taxes.: 61100

696.836,00

501.040,00

441.273,00

230.525,00

80.514,00

2. Results adjustments.: 61200

20.326,00

27.457,00

84.851,00

64.225,00

104.412,00

a) Fixed Assets Amortization (+).: 61201

56.520,00

39.599,00

59.273,00

46.820,00

46.611,00

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

0,00

-22.019,00

22.019,00

g) Financial income (-).: 61207

-47.768,00

-34.026,00

-15.940,00

-15.667,00

-6.713,00

h) Financial Expenses (+). : 61208

11.574,00

21.883,00

41.518,00

55.091,00

42.494,00

3. Changes in current capital equity.: 61300

-476.650,00

-542.352,00

-109.492,00

-113.364,00

-480.377,00

a) Stock (+/-).: 61301

326.155,00

-451.203,00

111.143,00

121.831,00

63.853,00

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

-821.461,00

670.099,00

226.950,00

-391.430,00

-264.242,00

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

476.683,00

-1.138.818,00

41.137,00

-30.397,00

-321.806,00

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

-458.027,00

377.570,00

-488.722,00

186.631,00

41.818,00

4. Other cash flows for operating activities.: 61400

36.194,00

12.143,00

-25.577,00

-39.424,00

-35.782,00

a) Interest payments (-). : 61401

-11.574,00

-21.883,00

-41.518,00

-55.091,00

-42.494,00

c) Interest collection (+). : 61403

47.768,00

34.026,00

15.940,00

15.667,00

6.713,00

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

276.706,00

-1.712,00

391.054,00

141.962,00

-331.233,00

6. Payments for investment (-).: 62100

-2.117,00

0,00

-4.336,00

-68.606,00

-70.964,00

b) Intangible fixed assets. : 62102

-2.117,00

0,00

-4.336,00

0,00

c) Fixed assets. : 62103

0,00

-68.606,00

-70.964,00

7. Divestment payment collection (+). : 62200

42.989,00

39.599,00

57.828,00

0,00

400.000,00

b) Intangible fixed assets. : 62202

0,00

1.445,00

0,00

c) Fixed assets. : 62203

42.989,00

38.154,00

57.828,00

0,00

e) Other financial assets. : 62205

0,00

400.000,00

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

-15.649,00

0,00

-5.781,00

-115.426,00

282.425,00

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

-1.142,00

11.418,00

0,00

-3.922,00

e) Grants, donations and bequests received (+). : 63105

-1.142,00

11.418,00

0,00

-3.922,00

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

-250.245,00

-25.145,00

-285.627,00

-8.158,00

-67.068,00

a) Issuance : 63201

0,00

6.683,00

98.648,00

0,00

4. Special characteristic debts (+). : 63205

0,00

3.631,00

98.648,00

0,00

5. Other debts (+). : 63206

0,00

3.051,00

0,00

b) Repayment and amortization of : 63207

-250.245,00

-25.145,00

-292.309,00

-106.806,00

-67.068,00

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

0,00

-64.804,00

-102.695,00

-63.461,00

4. Special characteristic debts (-). : 63211

-26.485,00

-25.145,00

-27.505,00

0,00

5. Other debts (-). : 63212

-223.760,00

0,00

-200.000,00

-4.111,00

-3.607,00

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

0,00

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

-251.387,00

-13.727,00

-285.627,00

-8.158,00

-70.990,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

9.671,00

-15.439,00

99.646,00

18.379,00

-119.798,00

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

136.381,00

151.820,00

52.174,00

33.795,00

153.593,00

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

146.052,00

136.381,00

151.820,00

52.174,00

33.795,00

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

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,00 %

-0,01 %

0,01 %

144,74 %

-55,57 %

EBITDA over Sales:

21,23 %

5,39 %

21,93 %

4,39 %

-3,21 %

22,82 %

Cash Flow Yield:

0,00 %

Profitability

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

21,63 %

2,82 %

18,56 %

1,65 %

16,54 %

71,26 %

Total economic profitability:

17,58 %

2,95 %

12,94 %

1,50 %

35,89 %

97,21 %

Financial profitability:

15,94 %

2,79 %

13,79 %

0,05 %

15,56 %

5.044,29 %

Margin:

19,45 %

2,81 %

19,95 %

1,71 %

-2,53 %

64,61 %

Mark-up:

20,51 %

2,08 %

20,45 %

0,24 %

0,29 %

784,13 %

Solvency

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,17

0,29

0,12

0,26

40,59

10,99

Acid Test:

2,70

1,11

1,70

1,10

58,30

1,41

Working Capital / Investment:

0,57

0,20

0,49

0,21

15,31

-3,11

Solvency:

3,66

1,73

2,76

1,76

32,46

-1,53

Indebtedness

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,27

1,00

0,52

1,03

-47,24

-2,96

Borrowing Composition:

0,00

0,69

0,21

0,73

-100,00

-5,94

Repayment Ability:

89,38

217,59

-89,29

103,97

200,10

109,27

Warranty:

4,66

2,01

2,93

1,98

58,99

1,55

Generated resources / Total creditors:

0,65

0,07

0,29

0,06

120,08

32,59

Efficiency

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,74

1,25

1,52

1,20

14,01

3,88

Turnover of Collection Rights :

2,81

4,57

6,30

4,36

-55,46

4,73

Turnover of Payment Entitlements:

1,18

3,03

1,53

2,92

-22,80

3,58

Stock rotation:

3,34

4,71

1,71

4,21

95,14

11,93

Assets turnover:

1,11

1,00

0,93

0,96

19,56

4,04

Borrowing Cost:

1,34

2,04

1,59

2,14

-15,65

-4,80

> Trend of indicators under the General Accounting Plan of 2007 (2014, 2013, 2012, 2011, 2010)

Cash Flow

2014

2013

2012

2011

2010

Cash Flow over Sales:

0,00 %

-0,01 %

0,04 %

0,01 %

-0,03 %

EBITDA over Sales:

21,23 %

21,93 %

21,16 %

10,29 %

4,58 %

Cash Flow Yield:

0,00 %

0,03 %

0,01 %

-0,04 %

Profitability

2014

2013

2012

2011

2010

Operating economic profitability:

21,63 %

18,56 %

16,34 %

8,56 %

4,35 %

Total economic profitability:

17,58 %

12,94 %

15,20 %

8,14 %

3,94 %

Financial profitability:

15,94 %

13,79 %

14,17 %

8,81 %

3,33 %

Margin:

19,45 %

19,95 %

18,43 %

8,71 %

3,32 %

Mark-up:

20,51 %

20,45 %

17,39 %

7,43 %

2,34 %

Solvency

2014

2013

2012

2011

2010

Liquidity:

0,17

0,12

0,24

0,05

0,04

Acid Test:

2,70

1,70

2,45

1,61

1,38

Working Capital / Investment:

0,57

0,49

0,51

0,41

0,42

Solvency:

3,66

2,76

3,58

2,38

2,46

Indebtedness

2014

2013

2012

2011

2010

Indebtedness level:

0,27

0,52

0,39

0,79

0,72

Borrowing Composition:

0,00

0,21

0,43

0,47

Repayment Ability:

89,38

-89,29

8,94

84,22

-10,95

Warranty:

4,66

2,93

3,57

2,27

2,38

Generated resources / Total creditors:

0,65

0,29

0,43

0,14

0,08

Efficiency

2014

2013

2012

2011

2010

Productivity:

1,74

1,52

1,55

1,28

1,13

Turnover of Collection Rights :

2,81

6,30

2,40

2,41

4,14

Turnover of Payment Entitlements:

1,18

1,53

1,81

1,40

3,04

Stock rotation:

3,34

1,71

2,98

3,51

3,87

Assets turnover:

1,11

0,93

0,89

0,98

1,31

Borrowing Cost:

1,34

1,59

4,66

3,56

3,24

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

19/05/2015

Carugil crece a doble dígito

Companies related

VIDAL GOLOSINAS SA

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Detail of Subsidies appearing in Balances Memories

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

1.141,80

Notes

El importe reflejado corresponde al imputado a resultados en este ejercicio, quedando un saldo pendiente al cierre de 10.276,20 euros.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

14.747,02

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

25.315,84

Notes

El importe reflejado corresponde al traspasado a resultados del ejercicio. Quedan pendientes de imputación al cierre 59169.67 euros.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital

Status

CONCEDIDA

Amount Granted

31.491,55

Notes

El importe reflejado corresponde al traspasado a resultados del ejercicio. Quedan pendientes de imputación al cierre 84.485,51 euros.

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

34.932,42

Notes

El importe reflejado es el imputado a resultados.

Research Summary

Sources

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.79
UK Pound	1	Rs.99.95
Euro	1	Rs.71.55

INFORMATION DETAILS

Analysis Done by :	KIN

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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Enquiry Details

Identification

Activity

Number of Employees

Chronological Summary

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

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

Sources

Unit