MIRA INFORM REPORT

Report No. :	350300
Report Date :	28.11.2015

IDENTIFICATION DETAILS

Name :	JOZEF JERIC S.P.
Registered Office :	Struzevoˇ 3B, 4000 Kranj
Country :	Slovenia
Financials (as on) :	31.12.2014
Date of Incorporation :	20.09.2004
Legal Form :	Entrepreneur
Line of Business :	Cutting, shaping and finishing of stone Manufacture of other articles of concrete, plaster and cement Floor and wall covering
No. of Employee :	16 (2014)

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Slovenia	B1	B1

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

SLOVENIA - ECONOMIC OVERVIEW

With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe, despite having suffered a protracted recession in 2008-2009 in the wake of the global financial crisis. Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Export-led growth fueled by demand in larger European markets pushed GDP growth to 2.6% in 2014, while stubbornly-high unemployment fell slightly to 13%. PM CERAR’s government took office in September 2014, pledging to press ahead with commitments to privatize a select group of state-run companies, rationalize public spending, and further stabilize the banking sector.

Source : CIA

Company identification

JOZEF JERIC S.P.	Phone	04 2525500
Struzevoˇ 3B 4000 Kranj Slovenia	Telefax	04 2525507
	E-Mail	mateja@kamnosestvo-jeric.si
	Web	www.kamnosestvo-jeric.si

		Registration:	Kranj
Statistical Nr.	1912232	Registration Nr.
Tax Nr.	SI87012677	Status	Active

Economic situation

Business connection	Business connection appear premissable
Terms of payment	Mostly within agrees terms, but partly also delayed

Basic information

Legal form

entrepreneur

Founded

20/03/2004 as entrepreneur

Registration

20/03/2004, Kranj,

Statistical Nr.: 1912232

Tax Nr.: SI87012677

Owners and Capital

Name / Address / Status	From	Share
Jozefˇ Jericˇ

Management

Name / Address / Status	Since	Power of attorney
confidential clerk
Mateja Jericˇ

Company addresses

Valid from	Residence address	Valid until
	Struzevoˇ 3B, 4000 Kranj, Slovenia Phone: 04 2525500 Telefax: 04 2525507 E-Mail: mateja@kamnosestvo-jeric.si Web: www.kamnosestvo-jeric.si

Business activities

Main activity	Nace
Cutting, shaping and finishing of stone	23.70
Additional activities	Nace
Manufacture of other articles of concrete, plaster and cement	23.69
Floor and wall covering	43.33

Company activity:

Cutting, shaping and finishing of stone

Headquarters and business premises are located on the address above

Economic data

Turnover and Employees

Date	Turnover	Employees
2011	918.746 EUR	16
2012	885.358 EUR	16
2013	902.432 EUR	16
2014	1.182.784 EUR	16

Supplementary data

Remarks

full name of company:
ˇ	ˇ
KAMEN JERIC JOZEF JERIC S.P.

Banks

Code	Bank name / Address		Account Nr.
126	BANKA SPARKASSE d.d.		SI56 340001006378177
	Cesta v Kleceˇ 15, 1000	Ljubljana , 1000,
104	SKB BANKA d.d. LJUBLJANA		SI56 031261000465847
	Ajdovsˇcinaˇ 4, 1513	Ljubljana , 1513,

Main indices

Payment experience and credit opinion

Terms of payment	Mostly within agrees terms, but partly also delayed
Business connection	Business connection appear premissable

Business development

Company development

Constant

Events

No negative events registered.

Balances

Balance

31.12.2014 The enclosed balance of 2014 is originated from official source, it is not authenticated by the auditor.

31.12.2013 The enclosed balance of 2013 is originated from official source, it is not authenticated by the auditor.

31.12.2012 The enclosed balance of 2012 is originated from official source, it is not authenticated by the auditor.

31.12.2011 The enclosed balance of 2011 is originated from official source, it is not authenticated by the auditor.

		31/12/2014	31/12/2013	31/12/2012	31/12/2011
Name	Ref.	1	1	1	1
		EUR	EUR	EUR	EUR
		balance	balance	balance	balance
ASSETS (AKTIVA)		3.958.964	3.829.484	3.600.123	3.345.774
LONG-TERM ASSETS		2.798.663	2.716.162	2.420.384	1.985.053
Intangible assets and long-term deferred costs		0	0	0	0
and accrued revenues
Intangible assets		0	0	0	0
Long-term deferred costs and accrued revenues		0	0	0	0
Tangible fixed assets		2.798.663	2.716.162	2.420.384	1.985.053
Long-term financial investments and Real estate		0	0	0	0
investments
Investment property		0	0	0	0
Long-term financial investments		0	0	0	0
Long-term operating receivables		0	0	0	0
Deferred receivables for taxes		0	0	0	0
SHORT-TERM ASSETS		1.109.301	1.113.322	1.142.111	1.312.036
Assets (group for estrange) for sell		0	0	0	0
Inventories		756.142	760.199	801.160	955.408
Short-term financial investments		1.902	0	0	25.000
Short-term operating receivables		348.111	352.265	340.151	330.828
Cash assets		3.146	858	800	800
Short-term deferred costs and accrued rev-		51.000	0	37.628	48.685
enues
Liabilites against selfemployed Person		0	0	0	0
LIABILITIES		3.958.964	3.829.484	3.600.123	3.345.774
CAPITAL		3.057.991	3.023.929	2.770.475	2.599.577
Called-up capital
Basic (subscribed) capital
Non called-up capital (deductive item)
Capital reserves
Reserves from profit
Surplus from revaluation
Retained net
Net business result for the business year
PROVISIONS AND LONG-TERM ACCRUED		0	0	0	0
COSTS AND DEFERRED REVENUES
FINANCIAL AND BUSINESS LIABILITIES		900.973	805.555	829.648	746.197
LONG-TERM LIABILITIES		450.494	377.650	548.818	604.083
Long-term financial liabilities		450.494	377.650	490.636	570.343
Long-term operating liabilities		0	0	57.982	33.740
Deferred liabilities for taxes		0	0
SHORT-TERM LIABILITIES		450.479	427.905	280.830	142.114
Liabilities, included in groups for estrange		0	0	0	0
Short-term financial liabilities		284.593	239.228	174.402	53.820
Short-term operating liabilities		165.886	188.677	106.428	88.294
SHORT-TERM ACCRUED COSTS AND DE-		0	0	0	0
FERRED REVENUES
Off-balance sheet items

Profit and loss accounts

31.12.2014 The enclosed profit and loss account of 2014 is originated from official source, it is not authenticated by the auditor.

31.12.2013 The enclosed profit and loss account of 2013 is originated from official source, it is not authenticated by the auditor.

31.12.2012 The enclosed profit and loss account of 2012 is originated from official source, it is not authenticated by the auditor.

31.12.2011 The enclosed profit and loss account of 2011 is originated from official source, it is not authenticated by the auditor.

		31/12/2014	31/12/2013	31/12/2012	31/12/2011
		1	1	1	1
Name	Ref.	EUR	EUR	EUR	EUR
		profit and	profit and	profit and	profit and
		loss account	loss account	loss account	loss account
Net sales		1.182.780	887.227	858.963	916.595
Changes in the value of inventories of prod-		0	0	9.418	0
ucts and work-in-process
Capitalised own products and own services		0	0	0	0
Other operating revenues (with subventions,		0	4.925	0	0
grants,...)
GROSS OPERATING YIELD		1.182.780	892.152	868.381	916.595
Cost of goods, material and services		824.987	545.284	544.856	563.416
Purchase value of goods and materials sold and		644.293	403.057	376.574	364.334
cost of material and cost of material used
Cost of services		180.694	142.227	168.282	199.082
Labour cost		230.459	242.440	228.674	226.179
Cost of wages		165.344	172.888	161.221	151.733
Cost of pension insurance		14.633	15.318	14.268	13.428
Cost of other social insurance		11.987	12.517	11.689	11.001
Other labour cost		38.495	41.717	41.496	50.017
Write-offs		64.610	43.243	40.238	42.786
Depreciation		64.610	43.243	40.238	42.786
Revaluation operating expenses for non-tangible		0	0	0	0
assets and tangible fixed assets
Revaluation operating expenses for current assets		0	0	0	0
Other operating expenses		19.286	28.124	27.263	38.687
OPERATING REVENUES		1.182.780	892.152	858.963	916.595
OPERATING EXPENSES		1.139.342	859.091	841.031	871.068
OPERATING RESULT
EBIT		43.438	33.061	27.350	45.527
Financial income from investments in other enter-		0	0	0	0
prises
Financial income from loans		0	0	12.661	0
Financial income from operating receivables		4	1.840	1.782	2
Financial expenses from depreciation and write-		0	0	0	0
offs of financial investments
Financial expenses from financial liabilities		6.182	12.297	6.466	22.921
Financial expenses from operating liabilities
Financial income		4	1.840	14.443	2
Financial expenses		6.322	15.424	7.962	22.921
Other revenues		0	8.440	2.534	2.149
Other expenses		125	27	0	256
Total revenues		1.182.784	902.432	885.358	918.746
Total costs		1.145.789	874.542	848.993	894.245
Total business result		36.995	27.890	36.365	24.501
Tax on profit
Deferred taxs
Net business result for the accounting period

Financial Ratios

Name	Ref.	31/12/2014	31/12/2013	31/12/2012	31/12/2011
Equity ratio	1
Cleared equity ratio	2
Current liquidity	3	2,46	2,60	4,07	9,23
Quick liquidity	4	0,78	0,83	1,21	2,51
Working capital	5	658822,00	685417,00	861281,00	1169922,00
Gearing	6
Cleared gearing	7
Profitability	8	3,13	3,09	4,11	2,67
Operating profitability	9
Stock days	10	233,34	307,47	330,29	379,57
Debtor days	11	107,42	142,48	140,23	131,43
Supplier days	12	51,19	76,31	43,88	35,08

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.75
UK Pound	1	Rs.100.68
Euro	1	Rs.70.88
EUR	1	Rs. 70.77

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
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%)

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