MIRA INFORM REPORT

Report No. :	339307
Report Date :	08.09.2015

IDENTIFICATION DETAILS

Name :	ZAMPERLA SLOVAKIA, S. R. O.
Registered Office :	SNP 53,  936 01 Šahy
Country :	Slovakia
Financials (as on) :	31.12.2014
Date of Incorporation :	31.01.2008
Com. Reg. No.:	Sro 22559/N
Legal Form :	Limited liability company
Line of Business :	Subject is manufacture of other fabricated metal products
No. of Employee :	14

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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)
Slovakia	A2	A2

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

SLOVAKIA - ECONOMIC OVERVIEW

Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. With a population of 5.4 million, the Slovak Republic has a small, open economy, with exports, at about 92% of GDP, serving as the main driver of GDP growth. Slovakia joined the European Union (EU) in 2004 and the Eurozone in 2009. The country’s banking sector is sound. Slovakia has led the region garnering FDI, because of its relatively low-cost, highly-skilled labor force, reasonable tax rates, and favorable geographic location in the heart of Central Europe. However, recent increases in corporate taxes, as well as changes to the Labor Code, slow dispute resolution, and ongoing corruption potentially threaten the attractiveness of the Slovak market. Moreover, the energy sector is characterized by high costs, unpredictable regulatory oversight, and growing government interference.

Source : CIA

Company name and address

ZAMPERLA SLOVAKIA, S. R. O.

SNP 53,  936 01 Šahy 

Telefax: 031/2300525
E-Mail: info@zamperla.sk
Web: www.zamperla.sk

Registered Details

Legal form

Limited liability company (Ltd.)

Established on	31/01/2008 - Limited liability company (Ltd.)
	Last entry in Business register

	25.01.2014
Registered on	14/02/2008, Okresný súd Nitra,  RegNr.: Sro 22559/N Tax number: SK2022548517 Statistical number: 43993567

Events, negative data	20.08.2015 - Debtor of health insurance - UNION Remark:  EUR 1875,24
	28.08.2015 - Social insurance debtor Remark:  10 614,14 EUR

Registered capital

14/02/2008	EUR	5 000,00
24/01/2013	EUR	205 000,00

Owner

ANTONIO ZAMPERLA S.P.A. Via Monte Grappa 15/17, 360 77 Altavilla Vicentina (VI), Italy

EUR

205 000,00

Manager

Marco Eugerio
Via F. Filzi 12, 208 61 Brugherio, Italy
authorized to sign alone

General data

production of amusement equipment for amusement parks, such as roller coasters and various other entertainment attractions.

Main activity:
Manufacture of other fabricated metal products

General contacts:
Phone:
031/2300524
Telefax:
031/2300525
E-Mail:
info@zamperla.sk
Web:
www.zamperla.sk

Residence address:
SNP 53, 936 01 Šahy 
Beginning of validity: 15.04.2008

Závodská 729, 908 73 Veľké Leváre 
Beginning of validity: 14.02.2008
End of validity: 14.04.2008

Employees

2013	15 employees

2014	11 employees
2015	14 employees

Annual turnover

2010	Enterprise turnover	EUR	1 870 168,-
2011	Enterprise turnover	EUR	3 802 870,-

2012	Enterprise turnover	EUR	4 137 964,-
2013	Enterprise turnover	EUR	5 290 353,-

2014

Enterprise turnover

EUR

8 484 831,-

Balance sheets

The enclosed profit/loss account of 2014 is originated from official source, we do not have information about the clause of the auditor. (31.12.2014 - 1 EUR)
The enclosed profit/loss account of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)
The enclosed profit/loss account of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)

The enclosed balance of 2014 is originated from official source, we do not have information about the clause of the auditor. (31.12.2014 - 1 EUR)
The enclosed balance of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)
The enclosed balance of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)

Other Information

Remarks

Other informations are not available. The question-form was sent by post office. We have not received any answer yet. In case that the company responds, we will forward the data to you.

Bank relations	bank relation is not known
Company development	Company development positive

Business course	good
Terms of payment	with delays, in some cases reminders of open invoices

Business connection

Credits are not rejected. The establishing of the business connection may be allowed.

A. The enclosed balance of 2011 is originated from official source, we do not have information about the clause of the auditor. (31.12.2011 - 1 EUR)
B. The enclosed balance of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)
C. The enclosed balance of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)
D. The enclosed balance of 2014 is originated from official source, we do not have information about the clause of the auditor. (31.12.2014 - 1 EUR)

FINANCIALS

balance	A 31.12.2011	B 31.12.2012	C 31.12.2013	D 31.12.2014
Total assets		6 493 909	8 461 724	13 103 118
Non-current assets		799 953	817 823	674 203
Intangible fixed assets		691 886	691 142	556 243
Development expenses		0	0	0
Software		3 566	2 822	5 587
Valuable rights		0	0	550 656
Goodwill		0	0	0
Other intangible fixed assets		0	0	0
Acquisition of intangible fixed assets		688 320	688 320	0
Advance payments for intangible fixed assets		0	0	0
Tangible fixed assets – total		108 067	126 681	117 960
Lands		0	0	0
Constructions		0	0	0
Separate movable assets and sets of movable assets		101 403	126 681	107 321
Perennial crops		0	0	0
Breeding and draught animals		0	0	0
Other tangible fixed assets		0	0	0
Acquisition of tangible fixed assets		6 664	0	10 639
Advance payments for tangible fixed assets		0	0	0
Adjustment to acquired assets		0	0	0
Long-term financial investments		0	0	0
Shares and ownership interests with control influence in enterprises		0
Shares and ownership interests with substantial influence of enterprises		0
Other long-term shares and ownership interests		0
Intercompany loans		0
Other long-term financial investments		0
Loans with maturity up to one year		0
Shares and ownership interests in affiliated accounting entities			0	0
Shares and ownership interests with participating interest, except for affiliated accounting entities			0	0
Other available-for-sale securities and ownership interests			0	0
Loans to affiliated accounting entities			0	0
Loans within participating interest, except for affiliated accounting entities			0	0
Other loans			0	0
Debt securities and other non-current financial assets			0	0
Loans and other non-current financial assets with remaining maturity of up to one year			0	0
Bank accounts with notice period exceeding one year	0	0	0	0
Acquisition of long-term financial investments		0	0	0
Advance payments for long-term assets		0	0	0
Current assets	3 108 356	5 237 609	7 012 802	12 177 819
Inventory - total	201 016	613 000	580 649	2 391 973
Material	201 016	613 000	580 649	331 973
Work-in-progress and semi-finished goods	0	0	0	0
Construction contracts where the expected time of completion exceeds one year	0
Finished products	0	0	0	0
Animals	0	0	0	0
Merchandise	0	0	0	2 060 000
Advance payments made for inventory	0	0	0	0
Long-term receivables – total	0	0	0	81 144
Trade receivables	0	0	0	0
Receivables from a controlled entity and a controlling entity	0	0
Other intercompany receivables	0	0
Trade receivables from affiliated accounting entities			0	0
Trade receivables within participating interest, except for receivables from affiliated accounting entities			0	0
Other trade receivables			0	0
Net value of contract	0	0	0	0
Other receivables from affiliated accounting entities			0	0
Other receivables within participating interest, except for receivables from affiliated accounting entities			0	0
Receivables from participants, members and association	0	0	0	0
Receivables related to derivative transactions			0	0
Other receivables	0	0	0	0
Deffered tax asset	0	0	0	81 144
Short - term receivables – total	2 819 454	4 613 370	6 384 075	9 672 230
Trade receivables	2 051 102	3 494 612	4 790 745	8 697 408
Receivables from a controlled entity and a controlling entity	0	0
Other intercompany receivables	0	0
Trade receivables from affiliated accounting entities			0	2 736 553
Trade receivables within participating interest, except for receivables from affiliated accounting entities			0	0
Other trade receivables			4 790 745	5 960 855
Net value of contract	618 303	832 294	1 221 343	645 938
Other receivables from affiliated accounting entities			0	0
Other receivables within participating interest, except for receivables from affiliated accounting entities			0	0
Receivables from participants, members and association	112 798	219 206	246 597	246 597
Social security	0	0	0	0
Taxation and subsidies	36 231	65 345	123 477	31 774
Receivables related to derivative transactions			0	0
Other receivables	1 020	1 913	1 913	50 513
Short-term financial assets	0	0	0	20 599
Current financial assets in affiliated accounting entities			0	0
Current financial assets, not including current financial assets in affiliated accounting entities			0	0
Own shares and own business shares	0	0	0	0
Acquisition of short-term financial assets	0	0	0	20 599
Financial accounts – total	87 886	11 239	48 078	11 873
Cash	16 777	11 239	13 198	5 113
Bank accounts	71 109	0	34 880	6 760
Prepayments	149 571	456 347	631 099	251 096
Deferred expenses long term	0	0	500 289	0
Deferred expenses short term	852	326 347	0	1 096
Accrued revenues long term	0	0	130 810	0
Accrued revenues short term	148 719	130 000	0	250 000
Total capital and liabilities	4 059 662	6 493 909	8 461 724	13 103 118
Capital	368 040	395 820	398 984	580 211
Registered capital - total	205 000	205 000	205 000	205 000
Registered capital – total	5 000	205 000	205 000	205 000
Change in registered capital	200 000	0	0	0
Capital funds – total	0	0
Receivables for subscriptions (for own equity capital)	0	0	0	0
Share premium	0	0	0	0
Other capital funds	0	0	0	0
Legal reserve fund (Non-distributable fund) from capital contributions	0	0
Legal reserve funds			0	20 500
Legal reserve fund and non-distributable fund			0	0
Reserve fund for own shares and own ownership interests			0	20 500
Funds created from profit – total	0	0
Legal reserve fund	0	0
Indivisible funds	0	0
Statutory funds and other funds	0	0
Other funds created from profit			0	0
Statutory funds			0	0
Other funds			0	0
Differences from revaluation - total			0	0
Gains or losses from revaluation of assets and liabilities	0	0	0	0
Gains or losses from investments	0	0	0	0
Differences from revaluation in the event of a merger, amalgamation into a separate accounting entity or demerger	0	0	0	0
Retained profit or loss from previous years	-26 736	163 040	190 819	173 483
Retained earnings from previous years	22 914	212 690	240 469	223 133
Retained earnings from previous years	-49 650	-49 650	-49 650	-49 650
Profit or loss for the accounting period	189 776	27 780	3 165	181 228
Liabilities	3 691 622	6 098 089	8 062 740	12 521 887
Reserves – total	10 723	12 115
Long-term liabilities - total	1 096	1 695	2 916	4 510
Long-term trade liabilities – total	0	0	0	0
Uninvoiced long-term supplies	0	0
Long-term liabilities to a controlled entity and a controlling entity	0	0
Other intercompany long-term liabilities	0	0
Trade liabilities to affiliated accounting entities			0	0
Trade liabilities within participating interest, except for liabilities to affiliated accounting entities			0	0
Other trade liabilities			0	0
Net value of contract	0	0	0	0
Other liabilities to affiliated accounting entities			0	0
Other liabilities within participating interest, except for liabilities to affiliated accounting entities			0	0
Other long-term liabilities	0	0	0	0
Long-term advances received	0	0	0	0
Long-term bills of exchange to a paid	0	0	0	0
Bonds issued	0	0	0	0
Liabilities from social fund	1 096	1 695	2 916	4 510
Other non-current liabilities			0	0
Non-current liabilities related to derivative transactions			0	0
Deffered tax liability	0	0	0	0
Long-term provisions			0	0
Legal provisions	0	0	0	0
Legal reserves short term	10 723	12 115
Other short-term reserves	0	0
Other provisions	0	0	0	0
Long-term bank loans	0	0	0	1 200 000
Short-term liabilities - total	3 679 803	6 084 279	8 034 269	11 288 052
Trade liabilities	3 486 003	5 990 119	7 914 725	10 832 162
Uninvoiced supplies	69 942	10 993
Liabilities to a controlled entity and a controlling entity	0	0
Other intercompany liabilities	0	0
Trade liabilities to affiliated accounting entities			0	3 728 294
Trade liabilities within participating interest, except for liabilities to affiliated accounting entities			0	0
Other trade liabilities			7 914 725	7 103 868
Net values of contract	0	0	0	0
Other liabilities to affiliated accounting entities			0	0
Other liabilities within participating interest, except for liabilities to affiliated accounting entities			0	0
Liabilities to partners and participants in association	35 354	35 354	35 354	229 287
Liabilities to employees	8 587	16 929	19 022	29 798
Social security liabilities	3 372	6 573	35 604	62 646
Taxation and subsidies	52 061	1 396	19 680	108 433
Other liabilities	24 484	22 915
Liabilities related to derivative transactions			0	0
Other liabilities			9 884	25 726
Short-term provisions			25 555	29 325
Legal provisions			25 555	29 325
Other provisions			0	0
Current bank loans	0	0	0	0
Short-term financial assistance	0	0	0	0
Bank loans	0	0
Prepayments - total	0	0	0	1 020
Accrued expenses long term	0	0	0	0
Accrued expenses short term	0	0	0	1 020
Deferred revenues long term	0	0	0	0
Deferred revenues short term	0	0	0	0

A. The enclosed profit/loss account of 2011 is originated from official source, we do not have information about the clause of the auditor. (31.12.2011 - 1 EUR)
B. The enclosed profit/loss account of 2012 is originated from official source, we do not have information about the clause of the auditor. (31.12.2012 - 1 EUR)
C. The enclosed profit/loss account of 2013 is originated from official source, we do not have information about the clause of the auditor. (31.12.2013 - 1 EUR)
D. The enclosed profit/loss account of 2014 is originated from official source, we do not have information about the clause of the auditor. (31.12.2014 - 1 EUR)

profit/loss account	A 31.12.2011	B 31.12.2012	C 31.12.2013	D 31.12.2014
Net turnover			0	8 484 831
Operating income - total			5 292 018	9 978 192
Revenue from the sale of merchandise	230 405	0	0	-130 000
Revenue from the sale of own products			5 290 353	0
Revenue from the sale of services			0	8 614 831
Change in inventory	-567 909	0	0	0
Own work capitalized	0	0	0	0
Purchased consumables and services	2 504 404	3 786 839
Consumed raw materials, energy consumption and consumption of other non-inventory supplies	1 474 285	1 774 618
Revenue from the sale of non-current intangible assets, property, plant and equipment, and raw materials	23 000	0	0	43 804
Other operating revenues	6 179	1 194	1 665	1 449 557
Operating expenses - total			5 254 630	9 794 703
Cost of merchandise sold	212 931	51 110	0	147 500
Trade margin	17 474	-51 110
Production	3 004 556	4 137 964
Revenue from the sale of own products and services	3 572 465	4 137 964
Consumed raw materials, energy consumption, and consumption of other non-inventory supplies			3 155 340	4 648 702
Value adjustments to inventory			0	0
Services	1 030 119	2 012 221	1 529 452	3 688 209
Personnel expenses - total	177 091	201 178	452 607	645 322
Wages and salaries	145 527	155 575	339 926	480 311
Remuneration of board members	0	0	0	0
Social security expenses	28 318	41 895	103 791	150 805
Social expenses	3 246	3 708	8 890	14 206
Taxes and fees	138	1 015	2 369	1 383
Depreciation expense of intangible and tangible fixed assets	29 418	29 393	39 964	181 762
Amortization of non-current intangible assets and depreciation of property, plant and equipment			39 964	181 762
Value adjustments to non-current intangible assets and property, plant and equipment			0	0
Net book value of fixed assets sold and material sold	22 990	0	0	0
Value adjustments to receivables	0	0	0	0
Other operating expenses	26 473	34 896	74 898	481 825
Transfer of operating revenues	0	0
Transfer of operating expenses	0	0
Profit or loss from operations	290 695	34 727	37 388	183 489
Added value	517 626	300 015	605 561	420
Income from financial activities - total			6	86 781
Revenues from sales of shares and ownership	0	0	0	0
Revenues from long-term financial assest	0	0	0	0
Revenues from ownership interests with control influence in enterprises and ownership interests with substantial influence of enterprises	0	0
Income from securities and ownership interests in affiliated accounting entities			0	0
Income from securities and ownership interests within participating interest, except for income of affiliated accounting entities			0	0
Other income from securities and ownership interests			0	0
Revenues from other long-term ownership and shares	0	0
Revenues from other long-term financial assest	0	0
Revenues from short-term financial assest	0	0	0	0
Income from current financial assets in affiliated accounting entities			0	0
Income from current financial assets within participating interest, except for income of affiliated accounting entities			0	0
Other income from current financial assets			0	0
Interest income	18 771	18 341	6	11
Interest income from affiliated accounting entities			0	0
Other interest income			6	11
Exchange rate gains	5	0	0	84 271
Revenues from revaluation of securities and revenues from derivative operations	0	0	0	0
Other financial revenues	0	0	0	2 499
Expenses related to financial activities - total			9 225	43 625
Transfer of financial revenues	0	0
Transfer of financial expenses	0	0
Shares and ownership interests sold	0	0	0	0
Expenses for short-term financial assets	0	0	0	0
Value adjustments to financial assets	0	0	0	0
Interest expense	66 257	1 910	4 272	24 122
Interest expenses related to affiliated accounting entities			0	0
Other interest expenses			4 272	24 122
Exchanges rate losses	0	0	0	5 950
Expenses for revaluation of securities and expenses for derivative operations	0	0	0	0
Other financial expenses	2 482	5 119	4 953	13 553
Profit or loss from financial activities	-49 963	11 312	-9 219	43 156
Income tax on ordinary activities	50 956	18 259
- current	50 956	18 259
- deferred	0	0
Profit or loss from ordinary activities before tax	240 732	46 039	28 169	226 645
Profit or loss from ordinary activities after tax	189 776	27 780
Extraordinary revenues	0	0
Extraordinary expenses	0	0
Income tax on extraordinary activities	0	0
- current	0	0
- deferred	0	0
Income tax			25 004	45 417
Income tax - current			25 004	126 561
Income tax - deferred			0	-81 144
Profit or loss from extraordinary activities before tax	0	0
Profit or loss from extraordinary activities after tax	0	0
Transfer of profit or loss to partners	0	0	0	0
Profit or loss of the accounting period before tax	240 732	46 039
Profit or loss of the accounting period after tax	189 776	27 780	3 165	181 228
Receivables after due date			694 415	4 787 386
Liabilities after due date			5 347 226	2 562 422

Ratios

2011

2012

2013

2014

Return on total assets ROA (in %)	n/a	0,43	0,04	1,38
Return on equity ROE (in %)	51,56	7,02	0,79	31,23

Return on sales ROS (in %)	4,99	0,67	0,06	2,14
Turnover of receivables (in days)	197	308	331	374

Turnover of liabilities (in days)	335	528	546	466
Turnover of inventories (days)	19,29	54,07	40,06	103

Net working capital	-571447	-846670	-1021467	889767
Ratio of accounts payable to accounts receivable	76,6	75,8	79,43	86,37

Ratio of profit/loss to tangible assets (in%)	n/a	19,33	15,46	7,95
Current ratio	0,84	0,86	0,87	1,07

Quick ratio	0,79	0,76	0,8	0,86
Cash ratio	0,02	0	0,01	0

Debt ratio I (in %)	90,93	93,9	95,28	95,57
Debt ratio II (in %)	90,93	93,9	95,28	95,56

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.74
UK Pound	1	Rs.101.36
Euro	1	Rs.74.27

INFORMATION DETAILS

Analysis Done by :	RAS
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.