MIRA INFORM REPORT
|
Report No. : |
339785 |
|
Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOUTHERN QUARRIES SL |
|
|
|
|
Registered Office : |
Av/ Rosales, De Los, 42 - Nave 304 B. - Madrid - 28041 - Madrid |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
08.10.2001 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Subject is engaged in wholesale of wood, construction materials and
sanitary equipment |
|
|
|
|
No. of Employee : |
Not Available |
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 : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Spain |
A1 |
A1 |
|
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: |
SOUTHERN
QUARRIES SL |
|
NIF
/ Fiscal code: |
B83113100 |
|
Status: |
ACTIVE |
|
Incorporation
Date: |
08/10/2001 |
|
Register Data |
Register
Section 8 Sheet 290458 |
|
Last Publication in BORME: |
16/01/2015
[Capital Reduction] |
|
Last
Published Account Deposit: |
2012 |
|
Share
Capital: |
5.622.408 |
|
|
|
|
Localization: |
AV/
ROSALES, DE LOS, 42 - NAVE 304 B. - MADRID - 28041 - MADRID |
|
Telephone
- Fax - Email - Website: |
Telephone.
913 188 965 Email. info@sqgroup.es Website. www.sqgroup.es |
|
|
|
|
Activity: |
|
|
NACE: |
4673
- Wholesale of wood, construction materials and sanitary equipment |
|
Registered
Trademarks: |
|
|
Audited
/ Opinion: |
Si
/ |
|
Tenders
and Awards: |
|
|
Subsidies: |
1
for a total cost of 440 |
|
Quality
Certificate: |
No |
|
|
|
|
Scoring and Risk: |
|
|
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) |
|
None |
0 |
--- |
|
Proceedings
heard by the Civil Court |
|
Unpublished |
0 |
--- |
|
Proceedings
heard by the Labour Court |
|
Unpublished |
0 |
--- |
|
|
|
Partners: |
|
|
|
DIMORPHANDRA
SL |
99.96
% |
|
|
Shares: |
1 |
|
|
Other
Links: |
0 |
|
|
No.
of Active Corporate Bodies: |
SINGLE
ADMINISTRATOR 1 |
|
|
Ratios |
2012 |
2011 |
Change |
|
|
|
|
|
Guarantees: |
|
|
Properties
Registered: |
Company
NO, Administrator NO |
|
Financing
/ Guarantee Sources : |
Sources
YES, Guarantees NO |
|
INVESTIGATION
SUMMARY |
|
|
According
to the sources consulted, it is a well managed company that enjoys good concept
among the ones who it has commercial relationships with. |
|
|
Enquiry
Details
|
|
|
Business address regime: |
Alquiler |
|
Identification
|
|
|
Social Denomination: |
SOUTHERN QUARRIES SL |
|
NIF / Fiscal code: |
B83113100 |
|
Corporate Status: |
ACTIVE |
|
Start of activity: |
2001 |
|
Registered Office: |
AV/ ROSALES, DE LOS, 42 -
NAVE 304 B. |
|
Locality: |
MADRID |
|
Province: |
MADRID |
|
Postal Code: |
28041 |
|
Telephone: |
913 188 965 |
|
Fax: |
917 238 871 |
|
Website: |
www.sqgroup.es |
|
Email: |
info@sqgroup.es |
Activity
|
|
|
NACE: |
4673 |
|
CNAE Obtaining Source: |
4673 |
|
Legal Form: |
TRADING
AND TRANSFORMATION OF NATURAL STONES. BUYING AND SELLING OF CARS, TRUCKS, COACHES
AND TRAILERS, JUST LIKE THEIR SPAREPARTS, COMPONENTS AND ACCESSORIES. |
|
Additional Information: |
It's a
mining company that's specialized in extraction of granite blocks and other
ornamental rocks. |
|
Additional Address: |
registered
in office and offices AV/ ROSALES, DE LOS, 42 - NAVE 304 B 28041 MADRID |
|
Import / export: |
EXPORT |
|
Future Perspective: |
Consolidation |
|
Industry situation: |
Maturity |
|
Chronological
Summary
|
|||
|
|
|
|
|
|
|
Year |
Act |
|
|
|
2001 |
Appointments/ Re-elections (1) Company Formation (1) |
|
|
|
2003 |
Accounts deposit (year 2001, 2002) |
|
|
|
2004 |
Accounts deposit (year 2003) Change of Social Purpose (1) Change of
Social address (1) |
|
|
|
2005 |
Accounts deposit (year 2004) |
|
|
|
2006 |
Accounts deposit (year 2005) |
|
|
|
2007 |
Accounts deposit (year 2006) |
|
|
|
2008 |
Accounts deposit (year 2007) |
|
|
|
2009 |
Accounts deposit (year 2008) Appointments/ Re-elections (1)
Cessations/ Resignations/ Reversals (1) |
|
|
|
2010 |
Accounts deposit (year 2009) Change of Social Denomination (1) |
|
|
|
2012 |
Accounts deposit (year 2010) Change of Social address (1) Increase of
Capital (2) |
|
|
|
2013 |
Accounts deposit (year 2011) Appointments/ Re-elections (1) |
|
|
|
2014 |
Accounts deposit (year 2012) |
|
|
|
2015 |
Capital Reduction (1) |
|
|
Main
Historic Changes
|
|||
|
|
|
|
|
|
Concept |
Publication |
Act |
Date |
|
Corporate Purpose Changes: |
LA COMERCIALIZACION Y TRANSFORMACIÓN DE PIEDRAS NATURALES |
Company Formation |
21/12/2001 |
|
Breakdown
of Owners' Equity
|
|
|
Registered Capital: |
5.622.408 |
|
Paid up capital: |
5.622.408 |
|
Updated
Evolution of the Subscribed and Paid-in Capital
|
|||||
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
Publishing Date |
Registration Type |
Capital Subscribed |
Paid up capital |
Underwritten result |
Disbursed Result |
|
04/12/2001 |
Company Formation |
3.010 |
3.010 |
3.010 |
3.010 |
|
19/09/2012 |
Increase of Capital |
6.515.000 |
6.515.000 |
6.518.010 |
6.518.010 |
|
16/10/2012 |
Increase of Capital |
510.000 |
510.000 |
7.028.010 |
7.028.010 |
|
08/01/2015 |
Capital Reduction |
-1.405.602 |
-1.405.602 |
5.622.408 |
5.622.408 |
|
Active
Social Bodies
|
|
|
|
|
|
Post published |
Social Body's Name |
Appointment Date |
Other Positions in this Company |
|
SINGLE ADMINISTRATOR |
PINA NAVARRO ENRIQUE RAMON |
03/04/2009 |
1 |
|
ACCOUNTS' AUDITOR / HOLDER |
APLEM CONSULTING SL |
27/03/2013 |
1 |
|
Historical
Social Bodies
|
|
|
|
|
|
Social Body's Name |
Post published |
End Date |
Other Positions in this Company |
|
CABALLERO PALMA RAUL |
SINGLE ADMINISTRATOR |
03/04/2009 |
1 |
|
Executive
board
|
||
|
|
|
|
|
Post |
NIF |
Name |
|
ADMINISTRATOR |
|
ENRIQUE RAMON PINA NAVARRO |
|
DIRECTOR/GENERAL MANAGER |
|
ENRIQUE RAMON PINA NAVARRO |
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 |
|
0 |
--- |
date |
|
|
Proceedings |
|
--- |
--- |
|
--- |
|
Resolution |
|
--- |
--- |
|
--- |
|
Defaults
on debt with Financial Institutions and Large Companies |
Bank
and Commercial Delinquency |
None |
0 |
|
|
|
Status:
Friendly |
|
--- |
|
|
|
|
Status:
Pre-Litigation |
|
--- |
|
|
|
|
Status:
Litigation |
|
--- |
|
|
|
|
Status:
Non-performing |
|
--- |
|
|
|
|
Status:
insolvency proceedings, bankruptcy and suspension of payments |
|
--- |
|
|
|
|
Other
status |
|
--- |
|
|
|
|
Legal
and Administrative Proceedings |
|
Unpublished |
--- |
|
|
|
Notices
of defaults and enforcement |
|
--- |
--- |
|
--- |
|
Seizures |
|
--- |
--- |
|
--- |
|
Auctions |
|
--- |
--- |
|
--- |
|
Declarations
of insolvency and bad debt |
|
--- |
--- |
|
--- |
|
Proceedings
heard by the Civil Court |
|
Unpublished |
--- |
|
|
|
Proceedings
heard by the Labour Court |
|
Unpublished |
--- |
|
|
> Details
> Basis
for scoring
|
Positive
Factors |
Adverse
Factors |
|
No
irregular payment performance has been detected based on information obtained
from credit bureaus. Significant
level of financial autonomy. The asset is financed mostly with equity and
financing with maturity exceeding one year, providing a solid financial
structure. The
current debt represents a 9.90of the financial structure. In principle, a
decrease in this ratio would indicate an improvement in the short-term
financial situation. It has
financial profitability.. SOUTHERN QUARRIES SL obtains financial return as a
consequence of an investment in its own resources which, a priori, might
improve its financial and economic situation. 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. |
SOUTHERN
QUARRIES 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. The
legal entity has had capital reduction(s), a fact that implies an actual
reduction in its assets and might deteriorate its financial situation. No
Company's subsidiaries or branches are known. Although
it is in a new stage of Consolidationit is part of a group distinguished by a
downturn in the market. Private
consumption continues to have, in spite of some signs of improvement, very
low rates , thus showing great weakness. |
Revision of the scoring derived from the review of the entity's available information.
Probability of default
|
|
|
|
|
> Estimated Probability of Default for the next 12 months: 1.281 %
|
Sector in which comparison is carried out: 467 Other specialised wholesale |
|
|
Relative Position:
|
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 89.00% of the companies of the sector SOUTHERN QUARRIES 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 1.281%.
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.
|
Result of query submitted to the
R.A.I. (Spanish Bad Debt Register) on |
LEGAL
CLAIMS
|
|
|
|
|
|
Summary
of Judicial Claims |
|
|
|
|
|
|
|
|
||
|
|
|
No
se han publicado |
|
|
|
|
No
se han publicado |
|
|
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||
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|
No
se han publicado |
|
|
|
|
No
se han publicado |
|
|
|
|
No
se han publicado |
|
|
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|
No
se han publicado |
|
|
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||
|
|
|
No
se han publicado |
|
|
|
|
No
se han publicado |
|
|
|
|
||
|
|
|
No
se han publicado |
|
|
Link
List
|
|
|
|
|
|
PARTICIPATES IN: |
1 Entities |
|
SHAREHOLDERS: |
1 Entities |
> Shareholders
|
Relationship |
Entity |
Province |
Shareholding stake |
|
SHAREHOLDERS |
DIMORPHANDRA SL |
ALICANTE |
99.96 |
|
PARTICIPATES IN |
GALVANI TRADING, SOCIEDAD
LIMITADA, (ITALIA) |
|
90 |
|
Turnover
|
|
|
Total Sales 2014 |
12.200.000 |
The sales data is from the latest
available financial statements. Failing that, are estimates data calculated by
statistical methods.
|
Estimated
Balance
|
|
FINANCIAL YEAR DATA: 2014
(x 1000 Euros) TOTAL ASSETS............................................15.990
NON CURRENT ASSETS....................................990 CURRENT
ASSETS.......................................15.000 LIABILITIES
EQUITY...........................................................7.800 NON
CURRENT LIABILITIES............................6.000 CURRENT
LIABILITIES....................................2.190 |
|
Financial
Accounts and Balance Sheets
|
|
|
|
|
Financial Years Presented
|
Ejercicio |
Tipo
de Cuentas Anuales |
Fecha
Presentacion |
|
2012 |
Normales |
January
2014 |
|
2011 |
Normales |
April
2013 |
|
2010 |
Normales |
January
2012 |
|
2009 |
Normales |
October
2010 |
|
2008 |
Normales |
November
2009 |
|
2007 |
Normales |
October
2008 |
|
2006 |
Normales |
November
2007 |
|
2005 |
Normales |
November
2006 |
|
2004 |
Normales |
November
2005 |
|
2003 |
Normales |
October
2004 |
|
2002 |
Normales |
November
2003 |
|
2001 |
Normales |
October
2003 |
The data in the report regarding the
last Company Accounts submitted by the company is taken from the TRADE REGISTER
serving the region in which the company's address is located 31/12/2012
>
Balance en formato Mixto de acuerdo al Nuevo Plan General Contable 2007
Information corresponding to the
fiscal year 2012 2011 2010 2008 is taken from information
submitted to the TRADE REGISTER. Data corresponding to fiscal years before
2012 2011 2010 2008 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,. To view details on
the methodology.
|
|
ORIGINAL |
ORIGINAL |
ORIGINAL |
ORIGINAL |
EQUIVALENCIA |
|
|
Assets |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
A)
NON-CURRENT ASSETS: 11000 |
955.726,00 |
949.605,00 |
229.263,00 |
223.343,00 |
16.443,00 |
|
|
I. Intangible fixed assets : 11100 |
15.578,00 |
11.312,00 |
1.250,00 |
6.156,00 |
688,00 |
|
|
1. Development: 11110 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Concessions: 11120 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Patents, licencing, trade marks and
similar: 11130 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Goodwill: 11140 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. IT applications: 11150 |
15.578,00 |
11.312,00 |
1.250,00 |
0,00 |
688,00 |
|
|
6. Investigation: 11160 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
7. Intellectual property: 11180 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
8. Greenhouse gas emission allowance:
11190 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
9. Other intangible fixed assets. :
11170 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Tangible fixed assets : 11200 |
16.149,00 |
11.293,00 |
11.963,00 |
11.537,00 |
14.196,00 |
|
|
1. Land and buildings: 11210 |
0,00 |
0,00 |
0,00 |
0,00 |
14.196,00 |
|
|
2. Technical installations and other
tangible fixed assets: 11220 |
16.149,00 |
11.293,00 |
11.963,00 |
0,00 |
0,00 |
|
|
3. Tangible asset in progress and
advances: 11230 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
III. Real estate investment: 11300 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
1. Land: 11310 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Buildings: 11320 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IV. Long-term investments in Group companies and associates :
11400 |
924.000,00 |
927.000,00 |
0,00 |
0,00 |
0,00 |
|
|
1. Equity instruments: 11410 |
69.000,00 |
27.000,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Credits to businesses: 11420 |
855.000,00 |
900.000,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Debt securities: 11430 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Derivatives : 11440 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Other financial assets : 11450 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
6. Other investments: 11460 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
V. Long-term financial investments: 11500 |
0,00 |
0,00 |
112.316,00 |
112.316,00 |
1.560,00 |
|
|
1. Equity instruments: 11510 |
0,00 |
0,00 |
0,00 |
0,00 |
1.560,00 |
|
|
2. Credits to third parties : 11520 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Debt securities: 11530 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Derivatives : 11540 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Other financial assets : 11550 |
0,00 |
0,00 |
112.316,00 |
0,00 |
0,00 |
|
|
6. Other investments: 11560 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VI. Assets for deferred tax : 11600 |
0,00 |
0,00 |
103.734,00 |
93.334,00 |
0,00 |
|
|
VII. Non-current trade debts : 11700 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B)
CURRENT ASSETS: 12000 |
14.506.668,00 |
13.943.308,00 |
17.514.531,00 |
8.704.125,00 |
6.170.533,00 |
|
|
I. Non-current assets held for sale : 12100 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Stocks: 12200 |
8.333.486,00 |
7.589.720,00 |
4.983.693,00 |
1.927.948,00 |
921.929,00 |
|
|
1. Commercial: 12210 |
2.113.121,00 |
2.242.830,00 |
2.485.950,00 |
0,00 |
0,00 |
|
|
2. Primary material and other supplies:
12220 |
0,00 |
0,00 |
0,00 |
0,00 |
921.929,00 |
|
|
3. Work in progress: 12230 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
a) Of long-term
production cycle : 12231 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Of short-term
production cycle : 12232 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Finished goods: 12240 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
a) Of long-term
production cycle : 12241 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Of short-term
production cycle : 12242 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. By-products, residues and recycled materials:
12250 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
6. Advances to suppliers: 12260 |
6.220.366,00 |
5.346.891,00 |
2.497.743,00 |
0,00 |
0,00 |
|
|
III. Trade debtors and others receivable accounts: 12300 |
5.451.555,00 |
6.018.125,00 |
10.758.645,00 |
6.565.526,00 |
5.248.079,00 |
|
|
1. Trade debtors / accounts receivable:
12310 |
1.922.098,00 |
2.291.329,00 |
10.715.110,00 |
6.442.681,00 |
5.149.884,00 |
|
|
a) Long-term
receivables from sales and services supplied : 12311 |
143.519,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Customers for
sales and provisions of services : 12312 |
1.778.579,00 |
2.291.329,00 |
10.715.110,00 |
6.442.681,00 |
5.149.884,00 |
|
|
2. Customers, Group companies and
associates : 12320 |
3.381.374,00 |
3.695.184,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Other accounts receivable: 12330 |
34.428,00 |
0,00 |
20.000,00 |
122.845,00 |
98.195,00 |
|
|
4. Personnel: 12340 |
0,00 |
8.154,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Assets for deferred tax: 12350 |
62.976,00 |
0,00 |
37,00 |
0,00 |
0,00 |
|
|
6. Other debtors, including tax and social
security: 12360 |
50.679,00 |
23.458,00 |
23.498,00 |
0,00 |
0,00 |
|
|
7. Called up share capital: 12370 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IV. Short-term investments in Group companies and associates:
12400 |
45.000,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
1. Equity instruments: 12410 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Credits to businesses: 12420 |
45.000,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Debt securities: 12430 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Derivatives : 12440 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Other financial assets : 12450 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
6. Other investments: 12460 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
V. Short-term financial investments : 12500 |
3.145,00 |
223,00 |
223,00 |
0,00 |
0,00 |
|
|
1. Equity instruments: 12510 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Credits to businesses: 12520 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Debt securities: 12530 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Derivatives : 12540 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Other financial assets : 12550 |
3.145,00 |
223,00 |
223,00 |
0,00 |
0,00 |
|
|
6. Other investments: 12560 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VI. Short-term accruals: 12600 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VII. Cash and other equivalent liquid assets : 12700 |
673.481,00 |
335.240,00 |
1.771.969,00 |
210.651,00 |
525,00 |
|
|
1. Treasury: 12710 |
673.481,00 |
335.240,00 |
1.771.969,00 |
0,00 |
525,00 |
|
|
2. Other equivalent liquid assets:
12720 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
TOTAL
ASSETS (A + B) : 10000 |
15.462.394,00 |
14.892.913,00 |
17.743.793,00 |
8.927.468,00 |
6.186.976,00 |
|
|
|
ORIGINAL |
ORIGINAL |
ORIGINAL |
ORIGINAL |
EQUIVALENCIA |
|
|
Liabilities
and Net Worth |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
A)
NET WORTH: 20000 |
7.317.224,00 |
211.717,00 |
-228.676,00 |
-175.125,00 |
-39.670,00 |
|
|
A-1) Shareholders' equity: 21000 |
7.317.224,00 |
211.717,00 |
-228.676,00 |
-175.125,00 |
-39.670,00 |
|
|
I. Capital: 21100 |
7.028.010,00 |
3.010,00 |
3.010,00 |
3.010,00 |
3.010,00 |
|
|
1. Registered capital : 21110 |
7.028.010,00 |
3.010,00 |
3.010,00 |
3.010,00 |
3.010,00 |
|
|
2. (Uncalled capital): 21120 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Share premium: 21200 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
III. Reserves: 21300 |
208.707,00 |
101.868,00 |
101.868,00 |
101.868,00 |
101.868,00 |
|
|
1. Legal and statutory: 21310 |
45.542,00 |
1.503,00 |
1.503,00 |
0,00 |
0,00 |
|
|
2. Other reserves: 21320 |
163.164,00 |
100.364,00 |
100.364,00 |
0,00 |
101.868,00 |
|
|
3. Revaluation reserves: 21330 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IV. (Common stock equity): 21400 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
V. Results from previous periods: 21500 |
0,00 |
-333.554,00 |
-501.198,00 |
-144.548,00 |
0,00 |
|
|
1. Brought forward: 21510 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. (Negative results from previous
periods): 21520 |
0,00 |
-333.554,00 |
-501.198,00 |
0,00 |
0,00 |
|
|
VI. Other shareholders' contributions: 21600 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VII. Result of the period: 21700 |
80.508,00 |
440.393,00 |
167.645,00 |
-135.454,00 |
-144.548,00 |
|
|
VIII. (Interim dividend): 21800 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IX. Other net worth instruments: 21900 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A-2) Adjustments due to changes in value: 22000 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
I. Financial assets held for sale: 22100 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Hedge operations: 22200 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
III. Linked non-current assets and liabilities held for sale :
22300 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IV. Exchange rate difference: 22400 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
V. Other: 22500 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A-3) Received subsidies, donations and legacies: 23000 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B)
NON-CURRENT LIABILITIES: 31000 |
6.615.000,00 |
150.000,00 |
300.000,00 |
0,00 |
0,00 |
|
|
I. Long-term provisions: 31100 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
1. Long-term employee benefits liability:
31110 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Environmental actions: 31120 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Restructuring provisions: 31130 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Other provisions: 31140 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II Long-term creditors: 31200 |
6.615.000,00 |
150.000,00 |
300.000,00 |
0,00 |
0,00 |
|
|
1. Liabilities and other securities:
31210 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Amounts owed to credit institutions:
31220 |
100.000,00 |
150.000,00 |
300.000,00 |
0,00 |
0,00 |
|
|
3. Creditors from financial leasing:
31230 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Derivatives : 31240 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Other financial liabilities :
31250 |
6.515.000,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
III. Long-term debts with Group companies and associates:
31300 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IV. Liabilities for deferred tax: 31400 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
V. Long-term accruals: 31500 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VI. Non-current trade creditors : 31600 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VII. Special long-term debts : 31700 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
C)
CURRENT LIABILITIES : 32000 |
1.530.170,00 |
14.531.197,00 |
17.672.469,00 |
9.102.592,00 |
6.226.647,00 |
|
|
I. Liabilities linked to non-current assets held for sale:
32100 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Short-term provisions: 32200 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
1. Provisions from greenhouse gas emission
allowance: 32210 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Other provisions: 32220 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
III. Short-term creditors : 32300 |
567.342,00 |
13.021.502,00 |
11.494.922,00 |
8.037.168,00 |
6.089.955,00 |
|
|
1. Liabilities and other securities:
32310 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
2. Amounts owed to credit institutions:
32320 |
507.138,00 |
493.168,00 |
5.165.533,00 |
8.037.168,00 |
6.089.955,00 |
|
|
3. Creditors from financial leasing:
32330 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Derivatives : 32340 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
5. Other financial liabilities : 32350 |
60.204,00 |
12.528.334,00 |
6.329.389,00 |
0,00 |
0,00 |
|
|
IV. Short-term debts with Group companies and associates:
32400 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
V. Trade creditors and other accounts payable: 32500 |
961.632,00 |
1.509.695,00 |
6.177.547,00 |
1.065.425,00 |
136.691,00 |
|
|
1. Suppliers: 32510 |
674.805,00 |
562.274,00 |
4.655.822,00 |
180.397,00 |
136.691,00 |
|
|
a) Long-term debts :
32511 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Short-term debts :
32512 |
674.805,00 |
562.274,00 |
4.655.822,00 |
180.397,00 |
136.691,00 |
|
|
2. Suppliers, Group companies and
associates: 32520 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Other creditors: 32530 |
253.495,00 |
198.648,00 |
245.090,00 |
0,00 |
0,00 |
|
|
4. Personnel (remuneration due):
32540 |
9.632,00 |
0,00 |
212,00 |
0,00 |
0,00 |
|
|
5. Liabilities for current tax:
32550 |
0,00 |
11.521,00 |
0,00 |
0,00 |
0,00 |
|
|
6. Other accounts payable to Public
Administrations.: 32560 |
23.701,00 |
68.954,00 |
44.293,00 |
0,00 |
0,00 |
|
|
7. Advances from clients: 32570 |
0,00 |
668.298,00 |
1.232.130,00 |
0,00 |
0,00 |
|
|
VI. Short-term accruals: 32600 |
1.196,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VII. Special short-term debts : 32700 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
TOTAL
NET WORTH AND LIABILITIES (A + B + C) : 30000 |
15.462.394,00 |
14.892.913,00 |
17.743.793,00 |
8.927.468,00 |
6.186.976,00 |
|
|
|
ORIGINAL |
ORIGINAL |
ORIGINAL |
ORIGINAL |
EQUIVALENCIA |
|
|
Profit
and Loss |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
1. Net turnover: 40100 |
11.461.501,00 |
9.495.307,00 |
8.490.970,00 |
3.644.474,00 |
3.761.927,00 |
|
|
2. Changes in stocks of finished goods and work in progress:
40200 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
3. Works carried out by the company for its assets: 40300 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4. Supplies : 40400 |
-8.721.606,00 |
-6.517.866,00 |
-5.402.179,00 |
-2.729.626,00 |
-3.084.540,00 |
|
|
5. Other operating income: 40500 |
482,00 |
420,00 |
0,00 |
0,00 |
4.291,00 |
|
|
6. Personnel costs: 40600 |
-471.445,00 |
-523.778,00 |
-432.806,00 |
-142.304,00 |
-73.091,00 |
|
|
7. Other operating costs: 40700 |
-1.535.401,00 |
-1.564.277,00 |
-2.211.552,00 |
-598.308,00 |
-630.627,00 |
|
|
8. Amortisation of fixed assets: 40800 |
-12.610,00 |
-4.503,00 |
-5.928,00 |
-7.283,00 |
-3.476,00 |
|
|
9. Allocation of subsidies of non-financial fixed assets and
other: 40900 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
10. Excess provisions : 41000 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
11. Impairment and result of transfers of fixed assets:
41100 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
12. Negative difference in combined businesses: 41200 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
13. Other results : 41300 |
14.655,00 |
873,00 |
-5.768,00 |
12.404,00 |
-7.668,00 |
|
|
A)
OPERATING INCOME (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) :
49100 |
735.576,00 |
886.175,00 |
432.738,00 |
179.356,00 |
-33.183,00 |
|
|
14. Financial income : 41400 |
15.839,00 |
278,00 |
208,00 |
127,00 |
0,00 |
|
|
a) Allocation of financial subsidies,
donations and legacies: 41430 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Other financial income: 41490 |
15.839,00 |
278,00 |
208,00 |
127,00 |
0,00 |
|
|
15. Financial expenditure: 41500 |
-416.626,00 |
-440.119,00 |
-284.141,00 |
-365.978,00 |
-168.731,00 |
|
|
16. Changes in fair value of financial instruments :
41600 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
17. Exchange rate differences : 41700 |
-227.391,00 |
133.565,00 |
82.172,00 |
11.070,00 |
4.004,00 |
|
|
18. Impairment and result for transfers of financial
instruments: 41800 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
19. Other financial income and expenditure: 42100 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
a) Incorporation of financial expenditure
to assets: 42110 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Financial income from arrangement with
creditors: 42120 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
c) Other income and expenditure:
42130 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B)
FINANCIAL REVENUE (14 + 15 + 16 + 17 + 18 + 19) : 49200 |
-628.179,00 |
-306.276,00 |
-201.762,00 |
-354.781,00 |
-164.727,00 |
|
|
C)
NET RESULT BEFORE TAXES (A + B) : 49300 |
107.398,00 |
579.899,00 |
230.976,00 |
-175.425,00 |
-197.911,00 |
|
|
20. Income taxes: 41900 |
-26.890,00 |
-139.506,00 |
-63.332,00 |
39.971,00 |
53.363,00 |
|
|
D)
RESULT OF THE PERIOD (C + 20) : 49500 |
80.508,00 |
440.393,00 |
167.645,00 |
-135.454,00 |
-144.548,00 |
|
>
Normal Balance Sheet under the rules of the 1990 General Accounting Plan
(repealed since 1st January of 2008)
Information corresponding to the
fiscal year 2012 2011 2010 2008 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,. To view details on
the methodology 2012 2011 2010 2008 is taken from
information submitted to the TRADE REGISTER.
|
|
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
ORIGINAL |
|
|
ASSETS |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
A)
SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B)
FIXED ASSETS: |
955.726,00 |
949.605,00 |
125.528,00 |
130.009,00 |
16.443,00 |
|
|
I. Formation expenses: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Intangible fixed assets: |
15.578,00 |
11.312,00 |
1.250,00 |
6.156,00 |
688,00 |
|
|
III. Tangible fixed assets: |
16.149,00 |
11.293,00 |
11.963,00 |
11.537,00 |
14.196,00 |
|
|
IV. Financial investments: |
924.000,00 |
927.000,00 |
112.316,00 |
112.316,00 |
1.560,00 |
|
|
V. Own shares: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VI. Long-term trade receivables: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
C)
Deferred expenses: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
D)
CURRENT ASSETS: |
14.506.668,00 |
13.943.308,00 |
17.618.265,00 |
8.797.459,00 |
6.170.533,00 |
|
|
I. Called-up share capital (not paid): |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
II. Stocks: |
8.333.486,00 |
7.589.720,00 |
4.983.693,00 |
1.927.948,00 |
921.929,00 |
|
|
III. Debtors: |
5.451.555,00 |
6.018.125,00 |
10.862.379,00 |
6.658.860,00 |
5.248.079,00 |
|
|
IV. Short-term investments: |
48.145,00 |
223,00 |
223,00 |
0,00 |
0,00 |
|
|
V. Short-term treasury shares: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VI. Cash at bank and in hand: |
673.481,00 |
335.240,00 |
1.771.969,00 |
210.651,00 |
525,00 |
|
|
VII. Prepayments and accrued income: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
GENERAL
TOTAL (A + B + C + D): |
15.462.394,00 |
14.892.913,00 |
17.743.793,00 |
8.927.468,00 |
6.186.976,00 |
|
MERCANTILE REGISTRY.
|
|
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
ORIGINAL |
|
|
LIABILITIES |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
A)
EQUITY: |
7.317.224,00 |
211.717,00 |
-228.676,00 |
-175.125,00 |
-39.670,00 |
|
|
I. Subscribed capital: |
7.028.010,00 |
3.010,00 |
3.010,00 |
3.010,00 |
3.010,00 |
|
|
II. Share premium: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
III. Revaluation reserves: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
IV. Reserves: |
208.707,00 |
101.868,00 |
101.868,00 |
101.868,00 |
101.868,00 |
|
|
a) Differences for capital adjustment to
euros: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Remaining Reserves: |
208.707,00 |
101.868,00 |
101.868,00 |
101.868,00 |
101.868,00 |
|
|
V. Profit or loss brought forward: |
0,00 |
-333.554,00 |
-501.198,00 |
-144.548,00 |
0,00 |
|
|
VI. Profit or loss for the financial year: |
80.508,00 |
440.393,00 |
167.645,00 |
-135.454,00 |
-144.548,00 |
|
|
VII. Interim dividend paid: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
VIII. Own shares for capital reduction: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B)
Deferred income: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
C)
PROVISIONS FOR LIABILITIES AND CHARGES: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
D)
LONG TERM LIABILITIES: |
6.615.000,00 |
150.000,00 |
300.000,00 |
0,00 |
0,00 |
|
|
E)
SHORT TERM CREDITORS: |
1.530.170,00 |
14.531.197,00 |
17.672.469,00 |
9.102.592,00 |
6.226.647,00 |
|
|
F)
SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
GENERAL
TOTAL (A + B + C + D + E + F): |
15.462.394,00 |
14.892.913,00 |
17.743.793,00 |
8.927.468,00 |
6.186.976,00 |
|
MERCANTILE REGISTRY.
|
|
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
ORIGINAL |
|
|
DEBIT |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
A)
CHARGES (A.1 to A.15): |
11.411.969,00 |
9.190.050,00 |
8.405.705,00 |
3.803.529,00 |
3.914.772,00 |
|
|
A.1. Operating consumption: |
8.721.606,00 |
6.517.866,00 |
5.402.179,00 |
2.729.626,00 |
3.084.540,00 |
|
|
A.2. Staff Costs: |
471.445,00 |
523.778,00 |
432.806,00 |
142.304,00 |
73.091,00 |
|
|
a) Wages, salaries et
al.: |
0,00 |
0,00 |
0,00 |
109.102,00 |
56.038,00 |
|
|
b) Social security
costs: |
471.445,00 |
523.778,00 |
432.806,00 |
33.202,00 |
17.053,00 |
|
|
A.3. Depreciation expense: |
12.610,00 |
4.503,00 |
5.928,00 |
7.283,00 |
3.476,00 |
|
|
A.4. Variation of trade provisions and
losses of unrecovered receivables: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.5. Other operating charges: |
1.535.401,00 |
1.564.277,00 |
2.211.552,00 |
598.308,00 |
630.627,00 |
|
|
A.I. OPERATING BENEFITS (B.1-A.1-A.2-A.3-A.4-A.5): |
720.921,00 |
885.302,00 |
438.506,00 |
166.952,00 |
0,00 |
|
|
A.6. Financial and similar charges: |
416.626,00 |
440.119,00 |
284.141,00 |
365.978,00 |
168.731,00 |
|
|
a) Due to liabilities
with companies of the group: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
b) Due to liabilities
with associated companies: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
c) Due to other
debts: |
416.626,00 |
440.119,00 |
284.141,00 |
365.978,00 |
168.731,00 |
|
|
d) Losses from
financial investments: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.7. Financial investment provision change:
|
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.8. Exchange losses: |
227.391,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.II. POSITIVE FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8): |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II):
|
92.743,00 |
579.026,00 |
236.744,00 |
0,00 |
0,00 |
|
|
A.9. Changes in provisions for intangible,
tangible and securities portfolio: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.10. Losses from tangible and intangible
fixed assets and portfolio: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.11. Losses from transactions with own
shares and debentures: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.12. Extraordinary expenses: |
0,00 |
0,00 |
5.768,00 |
0,00 |
0,00 |
|
|
A.13. Prior year expenses and losses:
|
0,00 |
0,00 |
0,00 |
0,00 |
7.670,00 |
|
|
A.IV. EXTRAORDINARY PROFIT (B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13):
|
14.655,00 |
873,00 |
0,00 |
12.404,00 |
0,00 |
|
|
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV): |
107.398,00 |
579.899,00 |
230.976,00 |
0,00 |
0,00 |
|
|
A.14. Corporation Tax: |
26.890,00 |
139.506,00 |
63.332,00 |
-39.971,00 |
-53.363,00 |
|
|
A.15. Miscellaneous taxes: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
A.VI. FINANCIAL YEAR RESULT (PROFIT) (A.V-A.14-A.15): |
80.508,00 |
440.393,00 |
167.645,00 |
0,00 |
0,00 |
|
MERCANTILE REGISTRY.
|
|
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
EQUIVALENCIA |
ORIGINAL |
|
|
CREDIT |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
B)
INCOME ( B.1 to B.8): |
11.492.476,00 |
9.630.442,00 |
8.573.350,00 |
3.668.074,00 |
3.770.225,00 |
|
|
B.1. Operating income: |
11.461.983,00 |
9.495.727,00 |
8.490.970,00 |
3.644.474,00 |
3.766.218,00 |
|
|
a) Net total sales:
|
11.461.501,00 |
9.495.307,00 |
8.490.970,00 |
3.644.474,00 |
3.761.927,00 |
|
|
b) Miscellaneous
operating income: |
482,00 |
420,00 |
0,00 |
0,00 |
4.291,00 |
|
|
B.I. PÉRDIDAS DE EXPLOTACIÓN (A.1+A.2+A.3+A.4+A.5-B.1 ): |
0,00 |
0,00 |
0,00 |
0,00 |
25.516,00 |
|
|
B.2. Financial income: |
15.839,00 |
278,00 |
208,00 |
127,00 |
0,00 |
|
|
a) Companies of the
group: |
15.839,00 |
278,00 |
208,00 |
127,00 |
0,00 |
|
|
b) In associated
companies: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
c) Miscellaneous:
|
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
d) Profit on
financial investment: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B.3. Exchange gains: |
0,00 |
133.565,00 |
82.172,00 |
11.070,00 |
4.004,00 |
|
|
B.II. NEGATIVE FINANCIAL RESULTS (A.6+A.7+A.8-B.2-B.3): |
628.179,00 |
306.276,00 |
201.762,00 |
354.781,00 |
164.727,00 |
|
|
B.III. LOSSES ON ORDINARY ACTIVITIES ( B.I + B.II - A.I - A.II
): |
0,00 |
0,00 |
0,00 |
187.829,00 |
190.243,00 |
|
|
B.4. Profit on disposal of both tangible
and intangible fixed assets and securities portfolio: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B.5. Profit on transactions with own
shares and debentures: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B.6. Capital grants transferred to profit
and loss: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B.7. Extraordinary income: |
14.655,00 |
873,00 |
0,00 |
12.404,00 |
3,00 |
|
|
B.8. Income and profit of former financial
years: |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
B.IV. NEGATIVE EXTRAORDINARY RESULTS
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8): |
0,00 |
0,00 |
5.768,00 |
0,00 |
7.668,00 |
|
|
B.V. LOSSES BEFORE TAXES (B.III+B.IV-A.III-A.IV): |
0,00 |
0,00 |
0,00 |
175.425,00 |
197.911,00 |
|
|
B.VI. FINANCIAL YEAR RESULTS (LOSSES) (B.V+A.14+A.15): |
0,00 |
0,00 |
0,00 |
135.454,00 |
144.548,00 |
|
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.
|
|
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
1.
Fiscal year result before taxes.: 61100 |
107.398,00 |
579.899,00 |
230.976,00 |
-175.425,00 |
-197.911,00 |
|
|
2.
Results adjustments.: 61200 |
1.132.549,00 |
309.487,00 |
213.457,00 |
373.135,00 |
168.203,00 |
|
|
a) Fixed Assets Amortization (+).: 61201 |
12.610,00 |
4.503,00 |
5.928,00 |
7.283,00 |
3.476,00 |
|
|
c) Variation in Provision (+/-). : 61203 |
506.855,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
d) Allocation of grants (-).: 61204 |
-440,00 |
-420,00 |
0,00 |
0,00 |
0,00 |
|
|
g) Financial income (-).: 61207 |
-15.839,00 |
-278,00 |
-208,00 |
-127,00 |
-4.004,00 |
|
|
h) Financial Expenses (+). : 61208 |
416.626,00 |
440.119,00 |
284.141,00 |
365.978,00 |
168.731,00 |
|
|
i) Exchange differences (+/-). : 61209 |
227.391,00 |
-133.565,00 |
-82.172,00 |
0,00 |
0,00 |
|
|
k) Other income and expense (-/+). : 61211 |
-14.655,00 |
-873,00 |
5.768,00 |
0,00 |
0,00 |
|
|
3.
Changes in current capital equity.: 61300 |
-1.915.425,00 |
-2.466.709,00 |
-1.905.466,00 |
-1.946.876,00 |
74.238,00 |
|
|
a) Stock (+/-).: 61301 |
-743.766,00 |
-2.606.027,00 |
-3.342.627,00 |
-1.006.019,00 |
-314.244,00 |
|
|
d) Debtors and other accounts receivable (+/-). : 61302 |
-624.793,00 |
4.748.674,00 |
-3.521.696,00 |
-1.317.447,00 |
-2.405.701,00 |
|
|
d) Creditors and other accounts payable (+/-). : 61304 |
-548.063,00 |
-4.609.357,00 |
4.958.857,00 |
376.590,00 |
2.794.183,00 |
|
|
e) Other current liabilities (+/-).: 61305 |
1.196,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
4.
Other cash flows for operating activities.: 61400 |
-338.806,00 |
-96.144,00 |
-289.701,00 |
-365.851,00 |
-164.727,00 |
|
|
a) Interest payments (-). : 61401 |
-356.423,00 |
-97.294,00 |
-284.141,00 |
-365.978,00 |
-168.731,00 |
|
|
c) Interest collection (+). : 61403 |
15.839,00 |
278,00 |
208,00 |
127,00 |
4.004,00 |
|
|
d) Income tax payment collection (payments) (+/-).: 61404 |
-11.521,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
e) Other payments (payment collection) (-/+) : 61405 |
13.298,00 |
873,00 |
-5.768,00 |
0,00 |
0,00 |
|
|
5.
Operating activity cash flows (1 + 2 + 3 + 4) : 61500 |
-1.014.285,00 |
-1.673.467,00 |
-1.750.734,00 |
-2.115.018,00 |
-120.197,00 |
|
|
6.
Payments for investment (-).: 62100 |
-66.947,00 |
-940.896,00 |
-2.809,00 |
-209.558,00 |
-10.005,00 |
|
|
a) Companies of the group and affiliates. : 62101 |
-42.000,00 |
-927.000,00 |
0,00 |
0,00 |
-1.560,00 |
|
|
b) Intangible fixed assets. : 62102 |
-12.000,00 |
-11.250,00 |
0,00 |
-5.468,00 |
-381,00 |
|
|
c) Fixed assets. : 62103 |
-9.731,00 |
-2.646,00 |
-2.586,00 |
0,00 |
-8.064,00 |
|
|
e) Other financial assets. : 62105 |
-3.215,00 |
0,00 |
-223,00 |
-110.756,00 |
0,00 |
|
|
h) Other assets. : 62108 |
0,00 |
0,00 |
0,00 |
-93.334,00 |
0,00 |
|
|
7.
Divestment payment collection (+). : 62200 |
293,00 |
0,00 |
0,00 |
2.659,00 |
0,00 |
|
|
c) Fixed assets. : 62203 |
0,00 |
0,00 |
0,00 |
2.659,00 |
0,00 |
|
|
e) Other financial assets. : 62205 |
293,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
8.
Investment activity cash flows (6 + 7) minus Amortization: 62300 |
-79.264,00 |
-945.399,00 |
-8.737,00 |
-214.183,00 |
-13.480,00 |
|
|
9.
Payment collection and payments for equity instruments. : 63100 |
7.025.000,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
a) Issuance of equity instruments (+). : 63101 |
7.025.000,00 |
0,00 |
0,00 |
0,00 |
166.224,00 |
|
|
b) Amortization of assets instruments (-). : 63102 |
0,00 |
0,00 |
0,00 |
0,00 |
-166.224,00 |
|
|
10.
Payment collection and payments for financial liabilities instruments.:
63200 |
-5.605.821,00 |
1.177.634,00 |
3.446.944,00 |
2.539.327,00 |
0,00 |
|
|
a) Issuance : 63201 |
7.572.208,00 |
6.343.168,00 |
11.765.463,00 |
2.539.327,00 |
0,00 |
|
|
2. Debts incurred with credit institutions (+). : 63203 |
457.138,00 |
443.168,00 |
5.465.533,00 |
2.539.327,00 |
0,00 |
|
|
5. Other debts (+). : 63206 |
7.115.070,00 |
5.900.000,00 |
6.299.930,00 |
0,00 |
0,00 |
|
|
b) Repayment and amortization of : 63207 |
-13.178.029,00 |
-5.165.533,00 |
-8.318.519,00 |
0,00 |
0,00 |
|
|
2. Debts incurred with credit institutions (-).: 63209 |
-493.168,00 |
-5.165.533,00 |
-8.318.519,00 |
0,00 |
0,00 |
|
|
5. Other debts (-). : 63212 |
-12.684.861,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
11.
Payments from dividends and remunerations from other assets instruments. :
63300 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
12.
Cash flows for financing activities (9+10+11).: 63400 |
1.419.179,00 |
1.177.634,00 |
3.446.944,00 |
2.539.327,00 |
0,00 |
|
|
D)
EFFECT OF EXCHANGE RATE CHANGES: 64000 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
|
|
E)
NET INCREASE/DECREASE OF CASH OR EQUIVALENT ASSETS (+/-5+/-8+/12+/-D) :
65000 |
338.240,00 |
-1.436.729,00 |
1.693.401,00 |
210.126,00 |
-133.678,00 |
|
|
Cash or equivalent assets as of beginning of the fiscal year.:
65100 |
335.240,00 |
1.771.969,00 |
78.568,00 |
525,00 |
134.203,00 |
|
|
Cash or equivalent assets as of end of the fiscal year.:
65200 |
673.481,00 |
335.240,00 |
1.771.969,00 |
210.651,00 |
525,00 |
|
|
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 |
2012 |
2011 |
Variación 2012 - 2011 |
|
|||
|
|
Empresa |
Sector |
Empresa |
Sector |
Empresa |
Sector |
|
|
Cash
Flow over Sales: |
0,03 % |
0,06 % |
-0,15 % |
0,00 % |
119,50 % |
|
|
|
EBITDA
over Sales: |
6,40 % |
5,85 % |
9,37 % |
6,13 % |
-31,70 % |
-4,46 % |
|
|
Cash
Flow Yield: |
0,02 % |
0,05 % |
-0,10 % |
0,00 % |
122,68 % |
|
|
|
Profitability |
2012 |
2011 |
Variación 2012 - 2011 |
|
|||
|
|
Empresa |
Sector |
Empresa |
Sector |
Empresa |
Sector |
|
|
Operating
economic profitability: |
4,98 % |
2,28 % |
6,34 % |
3,27 % |
-21,52 % |
-30,45 % |
|
|
Total
economic profitability: |
3,39 % |
1,92 % |
6,85 % |
2,89 % |
-50,52 % |
-33,47 % |
|
|
Financial
profitability: |
1,10 % |
-0,66 % |
208,01 % |
1,90 % |
-99,47 % |
-134,89 % |
|
|
Margin:
|
6,29 % |
2,03 % |
9,32 % |
3,06 % |
-32,54 % |
-33,85 % |
|
|
Mark-up:
|
0,81 % |
0,28 % |
6,10 % |
1,32 % |
-86,73 % |
-78,88 % |
|
|
Solvency |
2012 |
2011 |
Variación 2012 - 2011 |
|
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|
|
Empresa |
Sector |
Empresa |
Sector |
Empresa |
Sector |
|
|
Liquidity:
|
0,44 |
0,17 |
0,02 |
0,16 |
1.807,82 |
3,98 |
|
|
Acid
Test: |
4,03 |
1,01 |
0,44 |
1,03 |
822,68 |
-2,05 |
|
|
Working
Capital / Investment: |
0,84 |
0,14 |
-0,04 |
0,18 |
2.226,03 |
-19,92 |
|
|
Solvency:
|
9,48 |
1,52 |
0,96 |
1,62 |
888,02 |
-5,78 |
|
|
Indebtedness |
2012 |
2011 |
Variación 2012 - 2011 |
|
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|
|
Empresa |
Sector |
Empresa |
Sector |
Empresa |
Sector |
|
|
Indebtedness
level: |
1,11 |
1,28 |
69,34 |
1,59 |
-98,39 |
-19,31 |
|
|
Borrowing
Composition: |
4,32 |
0,84 |
0,01 |
0,94 |
41.777,84 |
-10,44 |
|
|
Repayment
Ability: |
24,08 |
12,21 |
-10,22 |
7.173,18 |
335,66 |
-99,83 |
|
|
Warranty:
|
1,90 |
1,78 |
1,01 |
1,63 |
87,14 |
9,30 |
|
|
Generated
resources / Total creditors: |
0,01 |
0,05 |
0,03 |
0,06 |
-62,28 |
-19,36 |
|
|
Efficiency |
2012 |
2011 |
Variación 2012 - 2011 |
|
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|
|
Empresa |
Sector |
Empresa |
Sector |
Empresa |
Sector |
|
|
Productivity:
|
2,56 |
1,32 |
2,70 |
1,35 |
-5,29 |
-2,03 |
|
|
Turnover
of Collection Rights : |
2,10 |
4,31 |
1,58 |
4,03 |
33,25 |
6,96 |
|
|
Turnover
of Payment Entitlements: |
10,67 |
3,61 |
5,35 |
3,58 |
99,24 |
1,06 |
|
|
Stock
rotation: |
1,29 |
5,63 |
1,13 |
4,85 |
13,61 |
16,23 |
|
|
Assets
turnover: |
0,79 |
1,12 |
0,68 |
1,07 |
16,34 |
5,13 |
|
|
Borrowing
Cost: |
5,12 |
2,92 |
3,00 |
2,77 |
70,62 |
5,21 |
|
>
Trend of indicators under the General Accounting Plan of 2007 (2012, 2011,
2010, 2008, 2007)
|
Cash
Flow |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
Cash
Flow over Sales: |
0,03 % |
-0,15 % |
0,21 % |
0,06 % |
-0,04 % |
|
|
EBITDA
over Sales: |
6,40 % |
9,37 % |
5,23 % |
4,78 % |
-0,59 % |
|
|
Cash
Flow Yield: |
0,02 % |
-0,10 % |
0,10 % |
0,02 % |
-0,02 % |
|
|
Profitability |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
Operating
economic profitability: |
4,98 % |
6,34 % |
2,49 % |
1,89 % |
-0,41 % |
|
|
Total
economic profitability: |
3,39 % |
6,85 % |
2,90 % |
2,13 % |
-0,47 % |
|
|
Financial
profitability: |
1,10 % |
208,01 % |
-73,31 % |
-77,35 % |
-364,37 % |
|
|
Margin:
|
6,29 % |
9,32 % |
5,16 % |
4,58 % |
-0,68 % |
|
|
Mark-up:
|
0,81 % |
6,10 % |
2,79 % |
-5,15 % |
-5,05 % |
|
|
Solvency |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
Liquidity:
|
0,44 |
0,02 |
0,10 |
0,02 |
0,00 |
|
|
Acid
Test: |
4,03 |
0,44 |
0,71 |
0,74 |
0,84 |
|
|
Working
Capital / Investment: |
0,84 |
-0,04 |
-0,01 |
-0,04 |
-0,01 |
|
|
Solvency:
|
9,48 |
0,96 |
1,00 |
0,97 |
0,99 |
|
|
Indebtedness |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
Indebtedness
level: |
1,11 |
69,34 |
-78,59 |
-51,98 |
-156,96 |
|
|
Borrowing
Composition: |
4,32 |
0,01 |
0,02 |
0,00 |
0,00 |
|
|
Repayment
Ability: |
24,08 |
-10,22 |
10,14 |
43,32 |
-46,58 |
|
|
Warranty:
|
1,90 |
1,01 |
0,99 |
0,98 |
0,99 |
|
|
Generated
resources / Total creditors: |
0,01 |
0,03 |
0,01 |
-0,01 |
-0,02 |
|
|
Efficiency |
2012 |
2011 |
2010 |
2008 |
2007 |
|
|
Productivity:
|
2,56 |
2,70 |
2,03 |
2,22 |
0,70 |
|
|
Turnover
of Collection Rights : |
2,10 |
1,58 |
0,79 |
0,56 |
0,72 |
|
|
Turnover
of Payment Entitlements: |
10,67 |
5,35 |
1,23 |
3,12 |
0,60 |
|
|
Stock
rotation: |
1,29 |
1,13 |
1,62 |
1,80 |
4,11 |
|
|
Assets
turnover: |
0,79 |
0,68 |
0,48 |
0,41 |
0,61 |
|
|
Borrowing
Cost: |
5,12 |
3,00 |
1,58 |
4,02 |
2,71 |
|
COMPARATIVE
SECTORIAL BALANCE
|
|
|
|
|
Sector-based Comparison
under the rules of the New General Accounting Plan.
|
|
Variación - |
|
|
|
Empresa |
Sector |
|
|
Variación - |
|
|
|
Empresa |
Sector |
|
|
Variación - |
|
|
|
Empresa |
Sector |
|
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 |
|
Subsidy Concept |
Subvención de explotación |
|
Status |
CONCEDIDA |
|
Amount Granted |
440,00 |
|
Notes |
Subvención por bonificación de cursos de
formación |
|
Research
Summary
|
|
According to the sources consulted, it is a well managed company that enjoys
good concept among the ones who it has commercial relationships with. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.