|
Report No. : |
343531 |
|
Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOVIONE FARMACIENCIA SA |
|
|
|
|
Registered Office : |
Quinta De São Pedro - Sete Casas 2674-506-Loures Loures Lisboa |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
08.04.1959 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Research,
manufacture and marketing of basic pharmaceutical products, services and technological
processes, patents, trademarks, and information in the area of health
sciences |
|
|
|
|
No. of Employees : |
623 (2013) |
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) |
|
Portugal |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PORTUGAL - ECONOMIC OVERVIEW
Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the following two decades, successive governments privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country joined the Economic and Monetary Union (EMU) in 1999 and began circulating the euro on 1 January 2002 along with 11 other EU members. The economy grew by more than the EU average for much of the 1990s, but the rate of growth slowed in 2001-08. The economy contracted in 2009, and fell again from 2011 to 2014, as the government implemented spending cuts and tax increases to comply with conditions of an EU-IMF financial rescue package, signed in May 2011. A modest recovery began in 2013 and gathered steam in in 2014 due to strong export performance and a rebound in private consumption. Although austerity measures were instituted to reduce the large budget deficit, they contributed to record unemployment and a wave of emigration not seen since the 1960s. A continued reduction in private- and public-sector debt could weigh on consumption and investment in 2015, holding back a stronger recovery. The government of Pedro PASSOS COELHO has passed legislation aimed at reducing labor market rigidity, and, this, along with sustained fiscal discipline, could make Portugal more attractive to foreign direct investment. The government reduced the budget deficit from 11.2% of GDP in 2010 to 4.8% in 2014, a figure that is significantly higher than the EU-IMF target of 4%. The government has pledged to lower the deficit to under 3% of GDP in 2015 in order to comply with EU fiscal obligations, under the excessive deficit procedure. Legislative elections in 2015 could increase the risk of fiscal slippage and undermine investor confidence in Portugal’s economy, which has improved over the course of the EU-IMF program. EU-IMF financing expired in May 2014.
|
Source
: CIA |
|
Name |
HOVIONE
FARMACIENCIA SA |
|
|
|
|
V.A.T.
Number / NIF |
500135495 |
|
Address |
Quinta
de São Pedro - Sete Casas |
|
Postal
Code |
2674-506-LOURES |
|
Municipality |
LOURES |
|
District |
LISBOA |
|
Country |
Portugal
|
|
Telephone |
219829000 |
|
Fax |
219829388,
219836801 |
|
E-Mail |
hello@hovione.com |
|
Web
Site |
http://www.hovione.pt/ |
|
CAE
Main |
21100-
Manufacture of basic pharmaceutical products |
|
2011 |
2012 |
2013 |
|
|
Net
Sales |
82.616.921,50 |
81.867.037,00 |
82.047.059,08 |
|
Net
Income For the Year |
5.184.873,27 |
4.810.572,00 |
3.455.861,50 |
|
Shareholders
Funds |
35.484.358,85 |
39.937.319,00 |
43.035.673,74 |
|
Stocks
|
21.545.656,19 |
22.887.820,00 |
15.184.045,87 |
|
LIABILITY
|
76.605.521,36 |
80.071.504,00 |
72.456.333,75 |
|
ASSETS
|
112.089.880,21 |
120.008.823,00 |
115.492.007,49 |
Consulted sources say that the subject has been respecting its payments
and commercial commitments, so credit connections with this company are recommended.
|
Legal
Form |
Joint
Stock Company |
|
Constitution
|
08-04-1959 |
|
V.A.T.
Number / NIF |
500135495 |
|
Employees
|
623 |
|
Capital
|
13.750.000,00 |
|
Sales
in : 31-12-2013 |
82.047.059,08 |
|
Shareholders’
Funds in: 31-12-2013 |
43.035.673,74 |
|
Payments
|
Slow
but correct |
|
Actual
Condition |
In
activity |
|
Incidents |
|
Summary
of Claims (Last 5 Years) |
|
Year |
Quantity |
Total |
|
€ |
||
|
2015 |
1 |
7.561,02 |
|
2011 |
1 |
1.743,29 |
|
Total |
2 |
9.304,31 |
|
Insolvencies
/ Revitalization Processes |
|
NO
|
|
Tax
Situation |
|
On
this date the subject is Not registered in the debtors list of the tax
authorities |
|
Contributive
Situation (Social Security) |
|
Information
currently unavailable at the source. |
|
Governing
Bodies |
|
FRANCISCO
XAVIER BELO VAN ZELLER |
Administrator
|
|
LUIS
ANTONIO ANDRADE DA SILVA GOMES |
Administrator
|
|
NOE
MANUEL CARREIRA DA CONCEICAO |
Administrator
|
|
ANTONIO
TEIXEIRA DE VASCONCELOS NUNES DE ALMEIDA |
Administrator
|
|
MIGUEL
MARIA DE OLIVEIRA BARREIROS CALADO |
Administrator
|
|
GUIDO
DU BOULAY VILLAX |
Delegate
Administrator |
|
PETER
PAL DU BOULAY VILLAX |
Board
of Director's President |
|
KPMG
& ASSOCIADOS-SOCIEDADE DE REVISORES OFICIAIS DE CONTAS SA |
Unique
Fiscal |
|
JOAO
ALBINO CORDEIRO AUGUSTO |
Fiscal
Board Substitute |
|
Registed
on the Register Record Office of Loures with the Register Number 500135495 previous
number 1172 in 10-11-1996 |
|
Constitution
celebrated in 08-04-1959 published on Diário da República number 112 of
12-05-1959 |
|
To
oblige the company it is necessary 2 signature |
|
Changes
to Society |
|
In
28-09-2015 on Portal MJ of 28-09-2015 social change
|
|
|
In
17-06-2014 on Portal MJ of 27-08-2014 appointment of board of directors |
|
|
In
12-06-2014 on Portal MJ of 17-06-2014 resignation of board of directors |
|
|
In
21-04-2014 on Portal MJ of 17-06-2014 appointment of board of directors |
|
|
In
31-10-2013 on Portal MJ of 11-12-2013 social change |
|
Capital |
|
The
Capital is 13.750.000,00 , divided in 2750000 shares , with a nominal value
of 5,00 |
|
with
the following shareholders |
|
HOVIONE
HOLDING LTD |
13.689.500,00 |
99,56% |
|
HOVIONE
PHARMASCIENCE LTD |
22.000,00 |
0,16% |
|
HOVIONE
INTERNATIONAL LIMITED |
38.500,00 |
0,28% |
|
NAME
|
HOVIONE
HOLDING LTD |
|
Funtion
|
Shareholder
|
|
Address
|
Aubin
House, 11th floor - 171-172 Gloucester Road, Wanchai, Hong Kong SAR |
|
Telephone
|
0085228911836 |
|
Fax
|
0085228910943 |
|
|
|
|
NAME
|
HOVIONE
PHARMASCIENCE LTD |
|
Funtion
|
Shareholder
|
|
Address
|
Estrada
Coronel Nicolau de Mesquita Taipa - Macau SAR |
|
Telephone
|
0085328827544 |
|
Fax
|
0085328827714 |
|
|
|
|
NAME
|
HOVIONE
INTERNATIONAL LIMITED |
|
Funtion
|
Shareholder
|
|
Address
|
Aubin
House, 11th floor - 171-172 Gloucester Road, Wanchai, Hong Kong SAR |
|
Main
CAE |
21100-
Manufacture of basic pharmaceutical products |
|
Business
Description |
|
Research , manufacture
and marketing of basic pharmaceutical products , services and technological
processes , patents, trademarks , and information in the area of health
sciences |
|
Type
of Clients |
Private
Companies |
|
Sales
Conditions |
Credit
30/60/90/120 days |
|
Geographic
Distribution of Sales |
|
Internal
Market |
International
Market |
|
Year |
EU |
Extra-EU |
Total |
|
2013 |
0,00 |
0,00% |
14.814.206,74 |
18,06% |
67.232.852,34 |
81,94% |
82.047.059,08 |
|
|
2012 |
0,00 |
0,00% |
16.094.645,29 |
19,66% |
65.772.391,37 |
80,34% |
81.867.036,66 |
|
|
2011 |
0,00 |
0,00% |
15.556.273,95 |
18,83% |
67.060.647,55 |
81,17% |
82.616.921,50 |
|
|
2010 |
0,00 |
0,00% |
16.617.294,33 |
22,13% |
58.455.353,00 |
77,87% |
75.072.647,33 |
|
Geographic
Distribution of Purchases |
|
Internal
Market |
International
Market |
|
Year |
EU |
Extra-EU |
Total |
|
2013 |
2.517.190,63 |
10,84% |
6.264.488,18 |
26,97% |
14.443.705,54 |
62,19% |
23.225.384,35 |
|
|
2012 |
2.605.060,31 |
8,39% |
7.722.862,06 |
24,86% |
20.732.387,27 |
66,75% |
31.060.309,64 |
|
|
2011 |
3.018.515,69 |
7,18% |
11.070.976,58 |
26,33% |
27.953.834,18 |
66,49% |
42.043.326,45 |
|
|
2010 |
3.278.288,47 |
9,32% |
10.947.205,82 |
31,12% |
20.951.652,75 |
59,56% |
35.177.147,04 |
|
Trade
Marks |
|
Hovione |
|
CAIXA
GERAL DE DEPOSITOS, SA |
Loures |
|
BANCO
BPI, SA |
Praça
do Município - Lisboa |
|
MILLENNIUM
BCP |
Avenida
Estados Unidos da América - Lisboa |
|
BANCO
SANTANDER TOTTA SA |
Lisboa
- Rua Áurea |
|
BANCO
BILBAO VIZCAYA ARGENTARIA (PORTUGAL), SA |
Avenida
da Liberdade - Lisboa |
|
Incidents |
|
Insolvencies
/ Revitalization Processes |
|
NO
|
|
Tax
Situation |
|
On
this date the subject is Not registered in the debtors list of the tax
authorities |
|
Contributive
Situation (Social Security) |
|
Information
currently unavailable at the source. |
|
Summary
of Claims (Last 5 Years) |
|
Year |
Quantity |
Total |
|
€ |
||
|
2015 |
1 |
7.561,02 |
|
2011 |
1 |
1.743,29 |
|
Total |
2 |
9.304,31 |
|
Legal Actions |
|
Date
|
Process |
Author |
Type |
Amount |
Judicial
District |
Court |
Situation |
|
19-03-2015 |
11843/15.0YIPRT |
Euro M Marketing
Intercativo Lda |
C-Especial
Cump.Obrig. Pecuniarias DL 269/98 |
7.561,02 |
Comarca
de Lisboa Norte-Loures-UC |
||
|
28-01-2011 |
406981/10.3YIPRT |
PT Comunicacoes, SA |
C-Especial
Cump.Obrig. Pecuniarias DL 269/98 |
1.743,29 |
Lisboa
- Tribunal de Pequena Instância Cível |
|
Year |
Total |
Men |
Women |
|
2013
|
623 |
421 |
68% |
202 |
32% |
|
2012
|
604 |
404 |
67% |
200 |
33% |
|
2011
|
558 |
381 |
68% |
177 |
32% |
|
2010
|
532 |
365 |
69% |
167 |
31% |
|
Tranquilidade
Seguros SA |
|
Head
Office and Installations |
|
Head
office Quinta de São Pedro - Lugar de Sete Casas, 2674-506, LOURES,
Tel:219829000, Fax:219829388 |
|
Installations
Estrada do Paço do Lumiar - Campus do Lumiar, Edifício R, 1649-038, LISBOA |
|
Event |
General
Description |
|
Quality
Certification |
The holder is
certified by the NP EN ISO 14001: 2004 within the Research, Development and Manufacturing
of Pharmaceutical Products. |
|
Balance
Sheet SNC |
||
|
CoinEUROS
|
Year:2013 |
|
|
2013 |
2012 |
2011 |
%
Var.2013/12 |
|
ASSET
|
||||
|
Non-current
assets |
||||
|
Tangible
fixed assets |
48.533.041,83 |
44.961.407,00 |
42.122.947,07 |
7,94% |
|
Investment
properties |
- |
- |
- |
- |
|
Goodwill
|
- |
- |
- |
- |
|
Intangible
assets |
5.737.135,96 |
- |
5.279.938,37 |
- |
|
Biological
assets |
- |
5.848.822,00 |
- |
- |
|
Financial
participations - patrimonial equity method |
- |
- |
- |
- |
|
Financial
participations - other methods |
- |
- |
- |
- |
|
Shareholders/partners
|
- |
- |
- |
- |
|
Other
financial assets |
43.731,44 |
42.448,00 |
42.448,33 |
3,02% |
|
Deferred
tax assets |
3.147.181,29 |
5.045.749,00 |
6.817.489,22 |
(37,63)% |
|
Financial
investments(exclusive use by small entities and micro entities) |
- |
- |
- |
- |
|
Total
|
57.461.090,52 |
55.898.426,00 |
54.262.822,99 |
2,80% |
|
Current
assets |
||||
|
Inventories
|
15.184.045,87 |
22.887.820,00 |
21.545.656,19 |
(33,66)% |
|
Biological
assets |
- |
- |
- |
- |
|
Costumers
|
10.206.009,84 |
9.139.617,00 |
7.357.359,49 |
11,67% |
|
Advances
to suppliers |
1.738.582,11 |
33.676,00 |
51.823,32 |
5.062,67% |
|
State
and other public entities |
2.550.925,44 |
2.282.637,00 |
2.991.355,43 |
11,75% |
|
Shareholders/partners
|
- |
- |
- |
- |
|
Other
accounts receivable |
5.157.780,87 |
9.067.765,00 |
1.530.158,58 |
(43,12)% |
|
Deferrals
|
546.224,28 |
224.974,00 |
509.075,26 |
142,79% |
|
Financial
assets held for trading |
- |
- |
16.835.578,58 |
- |
|
Other
financial assets |
- |
- |
- |
- |
|
Non-current
assets held for sale |
- |
- |
- |
- |
|
Other
current assets |
- |
- |
- |
- |
|
Cashier
and bank deposits |
22.647.348,56 |
20.473.908,00 |
7.006.050,37 |
10,62% |
|
Total
|
58.030.916,97 |
64.110.397,00 |
57.827.057,22 |
(9,48)% |
|
TOTAL
ASSET |
115.492.007,49 |
120.008.823,00 |
112.089.880,21 |
(3,76)% |
|
SHAREHOLDERS
FUNDS AND LIABILITIES |
||||
|
SHAREHOLDERS
FUNDS |
||||
|
Capital
|
13.750.000,00 |
13.750.000,00 |
13.750.000,00 |
- |
|
Own
shares |
- |
- |
- |
- |
|
Other
shareholders funds instruments |
400.000,00 |
400.000,00 |
400.000,00 |
- |
|
Emission
premiuns |
- |
- |
- |
- |
|
Legal
reserves |
1.541.967,21 |
1.301.439,00 |
1.042.194,93 |
18,48% |
|
Other
reserves |
- |
997.343,00 |
- |
- |
|
Net
retained |
21.282.751,23 |
16.769.203,00 |
11.900.287,87 |
26,92% |
|
Adjustments
on financial assets |
- |
- |
- |
- |
|
Revaluation
surplus |
1.009.960,83 |
- |
984.534,57 |
- |
|
Other
shareholders funds changes |
1.595.132,97 |
1.908.762,00 |
2.222.468,21 |
(16,43)% |
|
Total
|
39.579.812,24 |
35.126.747,00 |
30.299.485,58 |
12,68% |
|
Net
income for the period |
3.455.861,50 |
4.810.572,00 |
5.184.873,27 |
(28,16)% |
|
Antecipated
dividends |
- |
- |
- |
- |
|
TOTAL
OF SHAREHOLDERS FUNDS |
43.035.673,74 |
39.937.319,00 |
35.484.358,85 |
7,76% |
|
LIABILITY
|
||||
|
Non-current
liiabilities |
||||
|
Provisions
|
- |
193.888,00 |
- |
- |
|
Financing
obtained |
42.898.186,42 |
34.765.120,00 |
47.490.598,54 |
23,39% |
|
Responsability
for post-employment beneficts |
- |
- |
- |
- |
|
Diferred
taxes liabilities |
453.695,10 |
510.190,00 |
566.904,49 |
(11,07)% |
|
Other
payable accounts |
- |
- |
- |
- |
|
Total
|
43.351.881,52 |
35.469.198,00 |
48.057.503,03 |
22,22% |
|
Current
liabilities |
||||
|
Suppliers
|
9.619.030,02 |
12.760.365,00 |
15.093.943,90 |
(24,62)% |
|
Advances
from costumers |
- |
- |
- |
- |
|
State
and other public entities |
784.040,72 |
762.404,00 |
657.914,40 |
2,84% |
|
Shareholders/partners
|
- |
- |
- |
- |
|
Financing
obtained |
8.995.846,09 |
22.062.821,00 |
- |
(59,23)% |
|
Other
payable accounts |
6.961.586,28 |
6.794.064,00 |
10.474.424,81 |
2,47% |
|
Deferrals
|
2.669.610,12 |
1.665.624,00 |
2.321.735,22 |
60,28% |
|
Financial
liabilities held for trading |
- |
- |
- |
- |
|
Other
financial liabilities |
74.339,00 |
557.028,00 |
- |
(86,65)% |
|
Non-current
liabilities held for sale |
- |
- |
- |
- |
|
Other
current liabilities |
- |
- |
- |
- |
|
Total
|
29.104.452,23 |
44.602.306,00 |
28.548.018,33 |
(34,75)% |
|
TOTAL
LIABILITIES |
72.456.333,75 |
80.071.504,00 |
76.605.521,36 |
(9,51)% |
|
TOTAL
SHAREHOLDERS FUNDS AND LIABILITIES |
115.492.007,49 |
120.008.823,00 |
112.089.880,21 |
(3,76)% |
|
INCOME
STATEMENT |
||||
|
INCOME
AND EXPENSES |
||||
|
Sales
and services |
82.047.059,08 |
81.867.037,00 |
82.616.921,50 |
0,22% |
|
Operating
government grants |
- |
- |
- |
- |
|
Gains/losses
allocated subsidiaries, associates and joint ventures |
- |
- |
- |
- |
|
Variation
in production inventories |
(5.361.128,28) |
3.079.237,00 |
2.789.265,78 |
(274,11)% |
|
Work
for the entity itself |
124.336,56 |
728.123,00 |
1.152.585,60 |
(82,92)% |
|
Cost
of goods sold and materials consumed |
23.771.909,28 |
(32.482.494,00) |
39.613.003,92 |
(173,18)% |
|
Suppliers
and external services |
15.672.201,39 |
(15.766.591,00) |
14.756.708,72 |
(199,40)% |
|
Personnel
costs |
25.886.348,93 |
(24.482.954,00) |
22.478.589,80 |
(205,73)% |
|
Impairment
of inventories (losses/revearsals) |
385.777,47 |
(314.889,00) |
- |
(222,51)% |
|
Impairment
of receivables (losses/revearsals) |
- |
- |
- |
- |
|
Provisions
(increases/reductions) |
(499.003,12) |
(193.888,00) |
(968.018,33) |
157,37% |
|
Impairment
of investments not depreciable/amortizable (losses/reversals) |
- |
- |
- |
- |
|
Other
impairments (losses/reversals)/impairments (losses/reversals) (exclusive use
by small entities and microentities) |
- |
- |
- |
- |
|
Increases/decreases
in fair value |
- |
- |
- |
- |
|
Other
income and gains |
8.139.248,97 |
6.187.791,00 |
7.033.430,50 |
31,54% |
|
Other
expenses and losses |
5.622.384,22 |
(5.782.305,00) |
6.289.709,77 |
(197,23)% |
|
Result
before depreciation, financing costs and taxes |
14.109.898,16 |
12.839.067,00 |
11.422.209,50 |
9,90% |
|
Expenses/reversals
of depreciation and amortization |
3.900.202,33 |
(3.591.138,00) |
3.411.960,95 |
(208,61)% |
|
Impairment
of investments depreciable/amortizable (losses/reversals) |
1.266.504,00 |
- |
- |
- |
|
Operating
result (before financing costs and taxes) |
8.943.191,83 |
9.247.929,00 |
8.010.248,55 |
(3,30)% |
|
Interest
and similar income obtained |
- |
1.982.021,00 |
- |
- |
|
interest
and similar expenses incurred |
3.378.056,57 |
(4.368.209,00) |
4.280.817,27 |
(177,33)% |
|
Net
before taxes |
5.565.135,26 |
6.861.741,00 |
3.729.431,28 |
(18,90)% |
|
Income
tax of the period |
2.109.273,76 |
(2.051.169,00) |
(1.455.441,99) |
(202,83)% |
|
Net
profit for the period |
3.455.861,50 |
4.810.572,00 |
5.184.873,27 |
(28,16)% |
|
Results
of discontinued operations (net of taxes) included in the net icome of the
period |
- |
- |
- |
- |
|
RATIOS
SNC |
|
Closing
Date |
2013 |
2012 |
2011 |
|
|
||||||
|
TURNOVER
RATIOS |
||||||
|
Shareholder's
Funds Profitability |
0,08 |
0,12 |
0,146 |
|||
|
Assets
Profitability |
0,077 |
0,077 |
0,071 |
|||
|
Sales
Net Profitability |
0,042 |
0,059 |
0,063 |
|||
|
EFFICIENCY
RATIOS |
||||||
|
Medium
Term Receivable |
45,403 |
40,748 |
32,504 |
|||
|
Asset
Rotation |
0,71 |
0,682 |
0,737 |
|||
|
PRODUCTIVITY
RATIOS |
||||||
|
Productivity
|
2,251 |
(4,671) |
1,913 |
|||
|
SHORT
TERM RATIOS |
||||||
|
General
Liquidity |
1,994 |
1,437 |
2,026 |
|||
|
Reduced
Liquidity |
1,472 |
0,924 |
1,271 |
|||
|
Immediate
Liquidity |
0,778 |
0,459 |
0,245 |
|||
|
MEDIUM
LONG TERM RATIOS |
||||||
|
Financial
Autonomy |
0,373 |
0,333 |
0,317 |
|||
|
Solvability
|
0,594 |
0,499 |
0,463 |
|||
|
Borrowed
Capital Structure |
0,402 |
0,557 |
0,373 |
|||
|
General
Debt |
1,206 |
1,423 |
1,338 |
|||
|
Medium
Long Term Debt |
0,997 |
0,87 |
1,338 |
|||
|
Debt
Structure |
0,402 |
0,557 |
0,373 |
|||
|
Capital
Structure |
0,993 |
1,126 |
0,738 |
|||
|
Operational
and Financial Risk |
||||||
|
Operational
Leverage Level |
6,516 |
12,365 |
5,369 |
|||
|
Financial
Leverage Level |
1,607 |
1,348 |
2,148 |
|||
|
Combined
Leverage Level |
10,471 |
16,668 |
11,533 |
|||
|
CASH
FLOW STATEMENT |
|
Rubrics |
2013 |
2012 |
PERIODS |
|
CASH
FLOWS FROM OPERATIONAL ACTIVITIES |
|||
|
Customers
receipts |
81.881.848,00 |
82.902.815,59 |
(1,23)% |
|
Payments
to suppliers |
41.853.217,00 |
61.130.543,09 |
(31,53)% |
|
Payments
to employees |
25.150.364,00 |
24.963.844,52 |
0,75% |
|
Cash
at bank generated from operations |
14.878.267,00 |
(3.191.572,02) |
566,17% |
|
Payment/receipt
of income tax |
(1.853.006,00) |
542.385,78 |
(441,64)% |
|
Other
receipts/payments |
4.614.180,00 |
(1.059.680,47) |
535,43% |
|
Cash
Flows from Operational Activities (A) |
17.639.441,00 |
(3.708.866,71) |
575,60% |
|
CASH
FLOWS' INVESTMENT ACTIVITIES |
|||
|
Payments
regarding: |
|||
|
Fixed
tangible assets |
8.853.224,00 |
6.398.574,21 |
38,36% |
|
Intangible
assets |
94.857,00 |
869.731,81 |
(89,09)% |
|
Financial
investments |
1.283,00 |
- |
- |
|
Other
assets |
- |
- |
- |
|
Receipts
from: |
|||
|
Fixed
tangible assets |
- |
- |
- |
|
Intangible
assets |
- |
- |
- |
|
Financial
investments |
- |
- |
- |
|
Other
assets |
- |
- |
- |
|
Investment
subsidies |
- |
- |
- |
|
Interest
and similar income |
- |
9.277,68 |
- |
|
Dividends |
- |
- |
- |
|
Cash
Flows' Investments Activities (B) |
(8.949.364,00) |
(7.107.739,44) |
(25,91)% |
|
CASH
FLOWS' INVESTMENT ACTIVITIES |
|||
|
Receipts
from: |
|||
|
Obtained
financing |
34.478.148,00 |
9.300.365,13 |
270,72% |
|
Paying-up
of capital and other equity instruments |
- |
- |
- |
|
Coverage
of losses |
- |
- |
- |
|
Donations |
- |
- |
- |
|
Other
financing operations |
588.495,00 |
4.374,32 |
13.353,41% |
|
Payments
regarding: |
|||
|
Obtained
financing |
37.596.849,00 |
- |
- |
|
Interests
and similar expenses |
3.425.385,00 |
1.855.854,21 |
84,57% |
|
Dividends |
- |
- |
- |
|
Capital's
redution and other equity instruments |
- |
- |
- |
|
Other
financing operations |
- |
- |
- |
|
Cash
Flows' Financing Activities © |
(5.955.591,00) |
7.448.885,24 |
(179,95)% |
|
Variation
in cash at bank and its equivalents (A+B+C) |
2.734.486,00 |
(3.367.720,91) |
181,20% |
|
Effect
of exchange differences |
(561.044,53) |
- |
- |
|
Cash
at bank and its equivalents at the start of period |
20.473.908,09 |
23.841.629,00 |
(14,13)% |
|
Cash
at bank and its equivalents at the end of period |
22.647.349,56 |
20.473.908,09 |
10,62% |
|
CASH
FLOWS |
|
Movimentos
do Periodo de 2013 |
||||
|
Rubrics |
Initial
balance |
Debits |
Credits |
Final
balance |
|
PERIOD'S
CARRYING AMOUNT AND MOVEMENTS |
|
|||
|
Cash
in hand |
4.850,71 |
110.730,05 |
109.905,91 |
5.674,85 |
|
Order
deposits |
12.969.057,38 |
2.569.058.018,92 |
2.569.630.719,28 |
12.396.357,02 |
|
Other
bank deposits |
7.500.000,00 |
272.344.357,39 |
269.599.040,70 |
10.245.316,69 |
|
Total
cash at bank and bank deposits |
20.473.908,09 |
2.841.513.106,36 |
2.839.339.665,89 |
22.647.348,56 |
|
Of
which: Bank deposits abroad |
- |
- |
- |
0,00 |
|
Rubrics |
Value |
|
OTHER
INFORMATION |
|
|
Receipts
from: |
|
|
Non-life
insurance claims |
- |
|
Operating
subsidies |
- |
|
Cash
at bank and its equivalents not available for use |
- |
|
ASSETS
IMPAIRMENT |
|
Movimentos
do Periodo de 2013 |
||||||
|
Impairment
losses |
Impairment
losses reversals |
|||||
|
Rubrics |
Recognized
in profit and loss |
On
revalued assets recognized in equity |
Total |
Recognized
in profit and loss |
Recognized
in Equity |
Total |
|
Individual
assets |
|
|||||
|
Fixed
tangible assets |
0,00 |
- |
- |
0,00 |
- |
- |
|
Goodwill |
0,00 |
0,00 |
- |
- |
0,00 |
0,00 |
|
Intangible
assets |
0,00 |
- |
- |
0,00 |
- |
- |
|
Investment
properties (cost model) |
0,00 |
0,00 |
- |
0,00 |
0,00 |
- |
|
Investments
in progress |
1.266.504,00 |
0,00 |
1.266.504,00 |
0,00 |
0,00 |
- |
|
Financial
investments |
0,00 |
0,00 |
- |
0,00 |
0,00 |
- |
|
TOTAL |
||||||
|
of
which: cash-generating units |
0,00 |
0,00 |
- |
0,00 |
0,00 |
- |
|
GOVERNMENT
GRANTS AND GOVERNMENT ASSISTANCE |
|
Grants
from State and other public bodies |
Grants
from other entities |
|||
|
Rubrics |
Value
assigned in the period or in previous periods |
Value
attributed to the period |
Value
assigned in the period or in previous periods |
Value
attributed to the period |
|
Grants
related to assets/investment: |
1.845.904,74 |
165.576,72 |
0,00 |
0,00 |
|
Fixed
tangible assets |
931.837,44 |
69.172,22 |
0,00 |
0,00 |
|
Land
and Natural Resources |
- |
- |
- |
- |
|
Buildings
and other structures |
81.654,84 |
3.824,63 |
- |
- |
|
Basic
equipment |
842.217,51 |
57.657,35 |
- |
- |
|
Transport
equipment |
- |
- |
- |
- |
|
Office
equipment |
7.965,09 |
7.690,24 |
- |
- |
|
Biological
equipment |
- |
- |
- |
- |
|
Others |
- |
- |
- |
- |
|
Intangible
assets |
914.067,30 |
96.404,50 |
0,00 |
0,00 |
|
Development
projects |
842.629,46 |
96.404,50 |
- |
- |
|
Computer
programmes |
71.437,84 |
- |
- |
- |
|
Industrial
property |
- |
- |
- |
- |
|
Others |
- |
- |
- |
- |
|
Other
assets |
- |
- |
- |
- |
|
Grants
related to income / operating |
- |
- |
- |
- |
|
Value
of repayments in the period: |
0,00 |
0,00 |
0,00 |
0,00 |
|
Grants
related to assets/investment |
- |
- |
- |
- |
|
Grants
related to income / operating |
- |
- |
- |
- |
|
TOTAL
|
1.845.904,74 |
165.576,72 |
0,00 |
0,00 |
|
IMPAIRMENT
LOSSES IN FINANCIAL ASSETS AT COST OR AT AMORTIZED COST |
|
Movimentos
do Periodo de 2013 |
|||
|
Rubrics |
Impairment
losses |
Impairment
losses reversals |
Total |
|
Receivable
debts from customers |
- |
- |
0,00 |
|
Other
receivables |
- |
- |
0,00 |
|
Equity
instruments and other securities |
- |
- |
0,00 |
|
Others |
- |
- |
0,00 |
|
TOTAL |
0,00 |
0,00 |
0,00 |
|
DEBTS
REGISTERED AS DOUBTFUL |
|
Rubrics |
Value |
|
Regarding
insolvency and company recovery procedures or enforcement procedures |
- |
|
Claimed
in court |
- |
|
In
arrears: |
0,00 |
|
Over
six months and up to twelve months |
- |
|
Over
twelve months and up to eighteen months |
- |
|
Over
eighteen months and up to twenty four months |
- |
|
Over
twenty four months |
- |
|
TOTAL |
0,00 |
|
EMPLOYEE
BENEFITS, COMPANY EMPLOYEES AND PERSONNEL COSTS |
|
Rubrics |
Average
number of employees |
Average
number of hours worked |
|
Company
employees, paid and unpaid |
623 |
1.234.750 |
|
Paid
company employees |
623 |
1.234.750 |
|
Company
UNPAID employees |
0 |
0 |
|
Company
employees, by type of working hours |
||
|
Full
time company employees |
621 |
1.232.730 |
|
Of
which: Full time company employees |
621 |
1.232.730 |
|
Part
time company employees |
2 |
2.020 |
|
Of
which: Part time company employees |
2 |
2.020 |
|
Company
employees, by gender: |
||
|
Men |
421 |
702.518 |
|
Women |
202 |
532.232 |
|
Company
employees, of which: |
||
|
Company
employees assigned to Research and Development |
163 |
- |
|
Service
providers |
3 |
4.056 |
|
People
placed through temporary employment agencies |
4 |
- |
|
Staff
costs |
|
Rubrics |
Value |
|
Staff
costs |
25.886.348,93 |
|
Governance
Bodies Remuneration |
639.681,96 |
|
Of
which: Profit-sharing |
46.519,66 |
|
Employees
remuneration |
19.250.666,48 |
|
Of
which: Profit-sharing |
1.957.085,34 |
|
Post-employment
benefits |
0,00 |
|
Pension
premiums |
- |
|
Other
benefits |
- |
|
Of
which: |
|
|
For
defined contribution plans - corporate bodies |
- |
|
For
defined contribution plans - others |
- |
|
Compensations |
6.910,29 |
|
Charges
on remunerations |
3.536.962,45 |
|
Insurance
for accidents at work and professional diseases |
59.336,69 |
|
Social
security expenses |
1.564.065,07 |
|
Other
staff costs |
828.725,99 |
|
Of
which: |
|
|
Expenditure
on education |
3.477,48 |
|
Expenditure
on uniforms |
363.446,81 |
|
INFORMATION
BY GEOGRAPHIC MARKETS |
|
Geographic
markets |
||||
|
Rubrics |
Internal |
EU |
Extra-EU |
Total |
|
Sales |
- |
10.969.728,43 |
50.754.704,60 |
61.724.433,03 |
|
Services
provided |
- |
3.844.478,31 |
16.478.147,74 |
20.322.626,05 |
|
Purchases |
2.517.190,63 |
6.264.488,18 |
14.443.705,54 |
23.225.384,35 |
|
Supplies
and external services |
11.306.397,64 |
1.467.441,94 |
2.898.361,81 |
15.672.201,39 |
|
Acquisition
of fixed tangible assets |
5.337.748,16 |
2.495.823,36 |
698.226,83 |
8.531.798,35 |
|
Acquisition
of investment properties |
- |
- |
- |
0,00 |
|
Acquisition
of intangible assets |
214.030,81 |
- |
- |
214.030,81 |
|
Supplementary
income: |
44.418,93 |
0,00 |
2.608.534,96 |
2.652.953,89 |
|
Social
services |
37.125,68 |
- |
- |
37.125,68 |
|
Equipment
rental |
- |
- |
- |
0,00 |
|
Studies,
projects and technological assistance |
- |
- |
- |
0,00 |
|
Royalities |
- |
- |
591.154,56 |
591.154,56 |
|
Others |
7.293,25 |
- |
2.017.380,40 |
2.024.673,65 |
|
Memorandum:
Sales and services provided (undiscounted values) |
- |
- |
- |
0,00 |
|
Memorandum:
Purchases and supplies and external services (undiscounted values) |
- |
- |
- |
0,00 |
|
RECEIVABLE
AND PAYABLE ACCOUNTS |
|
Rubrics |
2013 |
2012 |
PERIODS |
|
Customers |
|
||
|
Trade
accounts receivable |
10.206.009,84 |
9.139.617,26 |
11,67% |
|
Trade
notes receivable |
- |
- |
- |
|
Advances
received from customers |
- |
- |
- |
|
Suppliers |
|||
|
Trade
accounts payable |
8.482.995,31 |
12.309.446,48 |
(31,09)% |
|
Trade
notes payable |
- |
- |
- |
|
Trade
accounts payable - unchecked invoices |
1.136.034,71 |
450.918,07 |
151,94% |
|
Advances
to suppliers |
1.738.582,11 |
33.675,71 |
5.062,72% |
|
Staff |
|||
|
Payable
remunerations |
- |
2.727,97 |
- |
|
Advanced
payments |
6.783,00 |
9.808,72 |
(30,85)% |
|
Bonds |
- |
- |
- |
|
Other
operations |
(18.244,22) |
(2.038,89) |
(794,81)% |
|
State
and other public sector institutions |
|||
|
Income
Tax |
1.576.053,21 |
160.684,74 |
880,84% |
|
Deductible
IVA (debt cumulative amounts) |
9.304.103,32 |
9.216.235,52 |
0,95% |
|
Paid
IVA (credit cumulative amounts) |
3.302.062,50 |
3.519.182,05 |
(6,17)% |
|
Shareholders
/ partners |
|||
|
Shareholders
with subscription |
- |
- |
- |
|
Unreleased
quotas |
- |
- |
- |
|
Advances
for profits |
- |
- |
- |
|
Allocated
results |
|||
|
From
the perspective of the entity distributing profits |
- |
- |
- |
|
From
the perspective of the entity with allocated profits |
- |
- |
- |
|
Available
profits |
|||
|
From
the perspective of the entity distributing profits |
- |
- |
- |
|
From
the perspective of the entity with allocated profits |
- |
- |
- |
|
Granted
loans - parent company |
- |
- |
- |
|
Granted
loans - subsidiary companies, associated companies and joint ventures |
- |
- |
- |
|
Granted
loans - other shareholders/partners |
- |
- |
- |
|
Of
which: Participating companies |
- |
- |
- |
|
Other
operations |
|||
|
Debit
status |
- |
- |
- |
|
Credit
status |
- |
- |
- |
|
Other
receivable and payable accounts |
|||
|
Investment
providers - general accounts |
574.941,46 |
1.020.703,58 |
(43,67)% |
|
Trade
accounts payable - unchecked invoices |
- |
- |
- |
|
Advanced
payments to investment providers |
- |
- |
- |
|
additional
income - Debtors |
1.264.328,26 |
915.151,35 |
38,16% |
|
additional
expenses - Creditors |
- |
6.245.089,57 |
- |
|
Deferred
tax assets |
3.147.181,29 |
5.045.747,87 |
(37,63)% |
|
Deferred
tax liabilities |
453.695,10 |
510.190,25 |
(11,07)% |
|
Unreleased
subscriptions - Creditors |
- |
- |
- |
|
Advances
received on account of sales |
- |
- |
- |
|
Other
debtors and creditors |
|||
|
Other
debtors |
3.886.669,61 |
7.766.508,39 |
(49,96)% |
|
Other
creditors |
6.383.217,11 |
- |
- |
|
EXPENSE
ACCOUNTS |
|
Rubrics |
2013 |
2012 |
PERIODS |
|
Supplies
and external services |
15.672.201,39 |
15.766.591,36 |
(0,60)% |
|
Subcontracts |
- |
- |
- |
|
Specialized
services |
7.033.773,00 |
6.975.978,40 |
0,83% |
|
Specialized
works |
2.493.466,24 |
1.716.737,50 |
45,24% |
|
Of
which: Payments to workers placed through agencies |
89.033,05 |
59.031,67 |
50,82% |
|
Advertising
and promotion |
628.502,63 |
442.037,47 |
42,18% |
|
Surveillance
and security |
114.463,68 |
120.623,68 |
(5,11)% |
|
Fees |
225.928,20 |
204.510,69 |
10,47% |
|
Comissions |
4.635,12 |
1.246.230,35 |
(99,63)% |
|
Maintenance
and repairs |
3.566.777,13 |
3.243.556,76 |
9,96% |
|
Others |
- |
2.281,95 |
- |
|
Materials |
2.076.340,62 |
1.915.524,33 |
8,40% |
|
Fast
wear tools and utensils |
1.389.074,46 |
1.387.881,15 |
0,09% |
|
Books
and technical documentation |
62.049,04 |
74.399,75 |
(16,60)% |
|
Office
material |
126.794,07 |
128.763,65 |
(1,53)% |
|
Gift
items |
4.526,71 |
3.237,93 |
39,80% |
|
Others |
493.896,34 |
321.241,85 |
53,75% |
|
Energy
and fluids |
2.641.055,37 |
2.660.027,85 |
(0,71)% |
|
Electricity |
1.558.249,41 |
1.692.248,06 |
(7,92)% |
|
Fuels |
814.297,43 |
679.128,60 |
19,90% |
|
Water |
268.508,53 |
288.651,19 |
(6,98)% |
|
Others |
- |
- |
- |
|
Travel,
lodging and transportation |
1.375.128,41 |
1.520.434,51 |
(9,56)% |
|
Travel
and lodging |
953.789,17 |
985.166,86 |
(3,19)% |
|
Transport
of personnel |
33.560,02 |
32.706,70 |
2,61% |
|
Transport
of goods |
387.779,22 |
502.560,95 |
(22,84)% |
|
Others |
- |
- |
- |
|
Different
services |
2.545.903,99 |
2.694.626,27 |
(5,52)% |
|
Rents
and leases |
1.328.464,13 |
1.183.973,12 |
12,20% |
|
Of
which: Rents from land |
- |
- |
- |
|
Communication |
207.398,95 |
200.227,11 |
3,58% |
|
Insurance |
350.339,58 |
610.748,06 |
(42,64)% |
|
Royalties |
- |
- |
- |
|
Litigation
and Notaries |
2.197,62 |
3.346,24 |
(34,33)% |
|
Representation
expenses |
17.909,20 |
19.492,74 |
(8,12)% |
|
Cleaning,
hygiene and comfort |
240.196,21 |
226.222,99 |
6,18% |
|
Other
services |
399.398,30 |
450.616,01 |
(11,37)% |
|
Were
the financial year's accounts approved? |
|
|
YES |
|
|
Data
da Aprovação: 17-06-2014 |
|
|
By
(Unanimity/Majority): |
|
|
Unanimity |
|
|
Percentage
of issued votes related to the share capital subscribed with voting right |
|
|
100 |
|
|
The
accounts were approved: |
|
|
In
universal meeting |
|
|
Through
deliberation by writing vote |
|
|
The
accounts were approved: |
|
|
In
POC/SNC/NCM (National Plan of Accounts/Accounting Normalization
System/Accounting Normalization for micro entities) |
|
Rubrics |
2013 |
2012 |
|
Retained
earnings |
24.738.612,73 |
21.579.775,58 |
|
Allocated
results / Available profits |
- |
- |
|
Percentages
or bonuses to managing bodies |
- |
- |
|
Ditto
to staff |
- |
- |
|
Reserves |
172.793,08 |
240.528,62 |
|
Coverage
of losses |
- |
- |
|
7.
Others |
- |
- |
|
BALANCE
(1-2-3-4-5-6-7) |
24.565.819,65 |
21.339.246,96 |
|
MANAGEMENT REPORT |
|
|
Were
the Management Report and financial year's accounts prepared? |
|
|
YES |
|
|
Were
the management report and the financial year's accounts signed by all members
of the management / administration? |
|
|
YES |
|
|
ASSESSMENT OF THE INSPECTION BODY |
|
|
The
entity has an inspection body? |
|
|
YES |
|
|
Has
the inspection body issued an assessment? |
|
|
YES |
|
|
The
inspection body pronounced: |
|
|
In
favour of the approval of accounts |
|
|
LEGAL CERTIFICATION OF ACCOUNTS (CLC) |
|
|
Is
the entity required to have certified accounts by a Statutory Auditor/Statutory
Audit Firm? |
|
|
YES |
|
|
Identificação
do ROC: 189038527 |
|
|
Was
the Legal certification of accounts issued? |
|
|
YES |
|
|
Without
reservation |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
UK Pound |
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.