MIRA INFORM REPORT

Report No. :	340208
Report Date :	14.09.2015

IDENTIFICATION DETAILS

Name :	AZBIL TELSTAR TECHNOLOGIES SL

Registered Office :	Avg/ Font I Sague, 55 Parc Cientific I T.Orbital N - Terrassa - 08226 - Barcelona

Country :	Spain

Financials (as on) :	2014

Date of Incorporation :	14.03.2005

Legal Form :	Private Company

Line of Business :	Manufacture of Other General-Purpose Machinery.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	780.000 Euro
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)

Spain

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

SPAIN - ECONOMIC OVERVIEW

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

Until 2014, credit contraction in the private sector, fiscal austerity, and high unemployment weighed on domestic consumption and investment. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, but labor reforms prompted a modest reduction to 23.7% in 2014. High unemployment strained Spain's public finances, as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2010, but Spain gradually reduced the deficit to just under 7% of GDP in 2013-14, slightly above the 6.5% target negotiated between Spain and the EU. Public debt has increased substantially – from 60.1% of GDP in 2010 to more than 97% in 2014.

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

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

Source : CIA

EXECUTIVE SUMMARY

Name:

AZBIL TELSTAR TECHNOLOGIES SL

NIF / Fiscal code:

B63797559

Trade Name

TELSTAR

Status:

ACTIVE

Incorporation Date:

14/03/2005

Register Data

Last Publication in BORME:

31/08/2015 [Revocations]

Last Published Account Deposit:

2014

Share Capital:

6.295.570

Localization:

Avg/ Font I Sague, 55 Parc Cientific I T.Orbital N - Terrassa - 08226 - Barcelona

Telephone - Fax - Email - Website:

Telephone. 937 361 600 Email. telstar@telstar.eu Website. www.telstar.com

Activity:

NACE:

2829 - Manufacture of other general-purpose machinery n.e.c.

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

22 for a total cost of 2.848.347,89

Subsidies:

9 for a total cost of 1104685

Quality Certificate:

Maximum recommended commercial credit:

780.000

Payment Behaviour:

According to the agreed terms

Prospects:

Product / service improvement

Industry situation:

Maturity

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Defaults on debt with Financial Institutions and Large Companies

None

---

Judicial Claims (Notices, Executive Proceedings, Attachments, Auctions, Bad Debt)

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

AZBIL TELSTAR SL

100 %

Enquiry Details

Business address regime:

PROPIEDAD

Identification

Social Denomination:

AZBIL TELSTAR TECHNOLOGIES SL

Trade Name:

TELSTAR

NIF / Fiscal code:

B63797559

Corporate Status:

ACTIVE

Start of activity:

2005

Registered Office:

AVG/ FONT I SAGUE, 55 PARC CIENTIFIC I T.ORBITAL N

Locality:

TERRASSA

Province:

BARCELONA

Postal Code:

08226

Telephone:

937 361 600

Fax:

937 861 380

Website:

www.telstar.com

Email:

telstar@telstar.eu

Branch Offices

Activity

NACE:

2829

Legal Form:

STUDY, DEVELOPMENT, MANUFACTURING, IMPORT, EXPORT, LAUNCHING AND SELLINGS OF VACUUM BLOWERS, ESPECIALLY FOR APPLICATIONS OF DRYING AND ITS PERIPHERAL SYSTEMS; METALLURGICAL ITEMS OF ANY KIND. REALIZATION OF ANY TYPE OF REPORTS, AUDITS, RATIFICATIONS, CERTIFICATIONS, CONSULTANCIES, TECHNICAL ASSESORING, BASIC ENGINEERING, DETAIL ENGINEERING, SORFWARE DEVELOPMENT.

Additional Information:

Design, development and construction of engineering projects and equipment installing, mainly allocated for biotechnology sectors, nanotechnology, chemical, pharmaceutical, veterinary and aerospace industry. The company is part of the Japanese group Azbil since 2013. It has ISO 9001.2008 Trademarks - TELSTAR

Additional Address:

Registered in office and offices Avd Font i Sagué 55 Parc Cientific i Tecnologic Orbital 40 08227 Terrassa (Barcleona) Josep Tapiolas 20 08226 Terrassa (Barcelona) Avd Cots Catalanes 5-7 2º Edfis SC Trace Ceter 08173 Sant Cugat del Vallés (Barcelona), Santibáñez de Béjar 3 local 2 2842 .

Import / export:

EXPORTS

Future Perspective:

Product / service improvement

Industry situation:

Maturity

Chronological Summary

Year

Act

2005

Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Change of Social Denomination (1) Change of Social Purpose (1) Change of Social address (1) Company Formation (1) Declaration of Sole Propietorship (2) Increase of Capital (2) Loss of the sole propietorship condition (2) Other Concepts/ Events (3) Statutory Modifications (1)

2006

Appointments/ Re-elections (2) Modification of Powers (1)

2007

Accounts deposit (year 2005, 2006) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1)

2008

Appointments/ Re-elections (5) Cessations/ Resignations/ Reversals (2) Change of Social Denomination (1) Change of Social Purpose (1) Declaration of Sole Propietorship (1) Increase of Capital (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (2) Statutory Modifications (1) Take-over Merger (5)

2009

Accounts deposit (year 2007, 2008) Take-over Merger (1)

2010

Accounts deposit (year 2009) Appointments/ Re-elections (5) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Declaration of Sole Propietorship (1) Increase of Capital (1) Other Concepts/ Events (1) Take-over Merger (1)

2011

Appointments/ Re-elections (5) Cessations/ Resignations/ Reversals (3)

2012

Accounts deposit (year 2010, 2011) Appointments/ Re-elections (6) Cessations/ Resignations/ Reversals (6)

2013

Accounts deposit (year 2012) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (4) Change of Social Denomination (1) Change of Social Purpose (1) Statutory Modifications (1) Take-over Merger (2)

2014

Accounts deposit (year 2013) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1) Change of Social Purpose (1) Declaration of Sole Propietorship (1) Other Concepts/ Events (1)

2015

Accounts deposit (year 2014) Appointments/ Re-elections (8) Cessations/ Resignations/ Reversals (4) Take-over Merger (1)

Main Historic Changes

Concept

Publication

Act

Date

Corporate Purpose Changes:

FABRICACION, IMPORTACION, EXPORTACION, PUESTA EN MARCHA Y VENTADE ARTÍCULOS METALURGICOS DE CUALQUIER CLASE, INCLUIDOS CUALESQUIERA INSTRUMENTOS O EQUIPOS CIENTIFICOS, TALES COMO CABINAS DE FLUJO LAMINAR, ETC

09/10/2008

LA FABRICACION, IMPORT-EXPORT.. PUESTA EN MARCHA Y VENTA DE EQUIPOS DE VACIO, PRINCIPALMENTE PARA APLICACIONES DE SECADO. Y SUS INSTALACIONES PERIFERICAS

Corporate Purpose Change

15/07/2005

LA REALIZACION DE TODO TIPO DE ESTUDIOS ECONOMICOS. FINANCIEROS Y COMERCIALES ASI COMO INMOBILIARIOS. INCLUIDOS AQUELLOS RELATIVOS A LA GESTION, ADMINISTRACION. ADQUISICION, FUSCION DE EMPRESAS, ETC

Company Formation

25/04/2005

Breakdown of Owners' Equity

Registered Capital:

6.295.570

Paid up capital:

6.295.570

Updated Evolution of the Subscribed and Paid-in Capital

wordml://1048

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

06/04/2005

Company Formation

3.010

22/08/2005

Increase of Capital

2.470.190

2.473.200

25/10/2005

Increase of Capital

2.473.200

4.946.400

25/09/2008

Increase of Capital

1.319.050

6.265.450

16/03/2010

Increase of Capital

30.120

6.295.570

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

SINGLE PARTNER

AZBIL TELSTAR SL

27/10/2014

SINGLE ADMINISTRATOR

TELSTAR INDUSTRIAS E INVERSIONES SL

17/05/2013

JOINT ATTORNEY

LOPEZ DIAZ DE RADA SALVADOR

13/08/2015

REPRESENTATIVE

CAPELLA GALI ANTONI

17/05/2013

ACCOUNTS' AUDITOR / HOLDER

DELOITTE SL

13/01/2014

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ALBERTO VACCHI

MEMBER OF THE BOARD

23/04/2008

PRESIDENT

23/04/2008

ANGUERA ARMENGOL LAURA

JOINT MANAGER

21/06/2005

AVILES BARAHONA ENRIQUE

PROXY

10/07/2012

BES BORDES MARIA DEL PORTAL

PROXY

07/12/2010

CAPELLA GALI ANTONI

REPRESENTATIVE

03/11/2005

VICE CHAIRMAN

23/04/2008

MEMBER OF THE BOARD

23/04/2008

CAPELLA GALI ANTONIO

REPRESENTATIVE

17/05/2013

CAPELLA GALI RAMON

MEMBER OF THE BOARD

23/04/2008

COSTAS GUAL FERNANDO

PROXY

04/02/2013

CRUZ PIMENTEL ENRIQUE

PROXY

04/04/2011

DE BRUGADA MARIEGES CARLES

MEMBER OF THE BOARD

23/04/2008

DEOGRACIAS HERRERO JUAN MANUEL

PROXY

08/11/2011

PROXY

04/05/2012

PROXY

04/05/2012

DIAZ RECUERO MARIA CRUZ

PROXY

19/08/2011

ERNST & YOUNG SL

ACCOUNTS' AUDITOR / HOLDER

13/01/2014

ACCOUNTS' AUDITOR / HOLDER

19/02/2010

ACCOUNTS' AUDITOR / HOLDER

26/10/2010

ACCOUNTS' AUDITOR / HOLDER

04/05/2012

ACCOUNTS' AUDITOR / HOLDER

28/01/2013

ESCORIHUELA RIBAS SERGI

PROXY

16/04/2015

PROXY

24/08/2015

ESQUEFA CAYUELA MARIA TERESA

PROXY

24/08/2015

FRISACH CASTELLA MIGUEL

PROXY

18/11/2014

GIOVANNI PECCHIOLI

MEMBER OF THE BOARD

23/04/2008

CHIEF EXECUTIVE OFFICER

23/04/2008

LOPEZ DIAZ DE RADA SALVADOR

JOINT ATTORNEY

13/08/2015

MERINO TARAFA PERE

PROXY

13/12/2013

MUÑOZ MARIN MARIA ANGELES

JOINT ATTORNEY

16/04/2015

JOINT ATTORNEY

13/08/2015

JOINT ATTORNEY

24/08/2015

ORDOÑEZ INDA LUIS JAVIER

JOINT ATTORNEY

24/08/2015

PABLOS PRUNERA EMILI

PROXY

08/04/2015

PROXY

24/08/2015

PAUL STEWART

MEMBER OF THE BOARD

23/04/2008

PEREZ RODRIGUEZ SOFIA

JOINT MANAGER

21/06/2005

PEÑARRUBIA BERNAL JORGE

PROXY

03/02/2012

PROXY

03/02/2012

PROXY

26/10/2010

PROXY

19/08/2011

PRICE WATERHOUSE COOPERS AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

15/05/2007

PUIG LAVERNIA JORGE

PROXY

16/04/2015

PROXY

24/08/2015

RIBALTA ABOGADOS SL

SINGLE PARTNER

21/06/2005

RODRIGUEZ SANCHEZ SUSANA

NON CONSELLOR SECRETARY

23/04/2008

ROS GARCIA JAIME

PROXY

19/08/2011

SANCHEZ SOLER JESUS

JOINT ATTORNEY

24/08/2015

JOINT ATTORNEY

16/04/2015

JOINT ATTORNEY

13/08/2015

PROXY

10/07/2013

PROXY

30/08/2013

SERGIO MARZO

MEMBER OF THE BOARD

23/04/2008

SERRAT LLADO JORDI

MEMBER OF THE BOARD

23/04/2008

PROXY

16/04/2015

PROXY

24/08/2015

CHIEF EXECUTIVE OFFICER

24/08/2015

TELSTAR S A

SINGLE ADMINISTRATOR

03/11/2005

TELSTAR S.A

SINGLE ADMINISTRATOR

03/11/2005

TELSTAR SA

SINGLE ADMINISTRATOR

17/05/2013

SINGLE PARTNER

25/10/2005

SINGLE PARTNER

25/09/2008

SINGLE PARTNER

27/10/2014

Defaults, Legal Claims and Insolvency Proceedings

Section enabling assessment of the degree of compliance of the company queried with its payment obligations. It provides information on the existence and nature of all stages of Insolvency and Legal Proceedings published with reference to the Company in the country's various Official Bulletins and national newspapers, as well Defaults Registered in the main national credit bureaus (ASNEF Industrial and RAI ).

> Summary

Chronological summary

Number of Publications

Amount (_)

Start date

End date

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Request/Declaration

---

date

Proceedings

---

Resolution

---

Defaults on debt with Financial Institutions and Large Companies

Bank and Commercial Delinquency

None

Status: Friendly

---

Status: Pre-Litigation

---

Status: Litigation

---

Status: Non-performing

---

Status: insolvency proceedings, bankruptcy and suspension of payments

---

Other status

---

Legal and Administrative Proceedings

---

26/05/2015

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.

It is one of the major domestic companies in terms of sales volume.

Adequate level of financial autonomy. The financial autonomy of the entity represents the 29.54 %. In principle, an increase in this ratio would indicate an improvement in the corporate's balace sheets.

AZBIL TELSTAR TECHNOLOGIES SL 's borrowing cost is appropriate according to its volume of external financing sources.

The development of the structure of the debt during the last two years indicates a decrease of the debt with credit institutions and trade creditors in respect to all liabilities. The lower the level of debt, the lower the dependence on suppliers capital and the more guarantee will have its financial situation.

It has no return from its main operating activity.This might deteriorate its financial situation. Moreover, this productivity has decreased in comparison with the previous financial year.

It presents an inefficient resources management. Resources and variable costs management associated with the activity itself are not productive, since operating expenses exceed income.

Reduced level of liquidity. The company shows not enough capacity to meet its obligations with a maturity of less than one year with the available liquid assets.

Solvency decrease. Its capacity to bear the cost derived form debts incurred with third parties has decreased significantly in its last fiscal year.

There is a reduction on the sales turnoverso the Company´s results may be affected.

Probability of default

> Estimated Probability of Default for the next 12 months: 1.974 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

282 Manufacture of other general-purpose machinery

wordml://2613

Relative Position:

Credit quality is superior to that of other companies in the same sector.

The company's comparative analysis with the rest of the companies that comprise the sector, shows the company holds a better position with regard to the probability of non-compliance.

The 71.00% of the companies of the sector AZBIL TELSTAR TECHNOLOGIES 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 1.974%.

In the event they fail to comply with the payment, the seriousness of the loss will depend on factors such as the promptness of the commencement of the charging management, the existence of executive documents which match the credit or the existence of guarantees and free debt assets under the name of the debtor. Therefore, the probability of non-compliance should not be solely interpreted as the total loss of the owed amount.

Recommended commercial credit

Favourable until 780.000 € (Guideline value of outstanding commercial balance that recommends be awarded to or maintained with the company queried)

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

No se han publicado

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

No se han publicado

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

No se han publicado

Incidences with the Social Security

No se han publicado

Incidences with the Autonomous Administration

No se han publicado

Incidences with the Local Administration

1 Incidence for a total cost of 0,00 E

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

No se han publicado

Proceedings by the old Civil Procedural Law 1.881

No se han publicado

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Proceedings before the Industrial Tribunal

No se han publicado

Incidences Detailed

Incidences with the Local Administration

PROCESSED BY THE LOCAL GOVERNMENT DE BARCELONA - Date 26/05/2015

Last Published Stage:

INFRINGEMENT

Record Number:

1400000429

Amount of the incidence:

0,00 E

Requested by:

ADMINISTRACION LOCAL

Published domicile:

VILADECANS (BARCELONA)

Source:

B.O.E. Nº156, 2015 SUPLEMENTO 1 PAGINA 5615

Link List

ABSORBS TO:

5 Entities

HAS IN ITS ADMINISTRATION BOARD TO:

1 Entities

IS RELATED WITH:

8 Entities

PARTICIPATES IN:

2 Entities

SHAREHOLDERS:

1 Entities

RESULT OF THE PARTIAL SPIN-OFF OF:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

AZBIL TELSTAR SL

BARCELONA

100

PARTICIPATES IN

TELSTAR FAR EAST CO, S.A.

100

TELSTAR INDUSTRIAL USA INC

100

> Other relationships

Relationship	Entity	Province	Shareholding stake
IS RELATED WITH	\| \|
	AZBIL CORPORATION
	AZBIL SINGAPORE, S.A.
	AZBIL TELSTAR ARGENTINA, S.A.
	AZBIL TELSTAR UK, S.A.
	SOCIEDADE DE SERVICOS DE ENGENHARIA A INDUSTRIA FARMACEUTICA LTDA
	SVS PORTUGAL SOCIEDADE DE SERVICOS DE ENGENHARIA A INDUSTRIA FARMACEUTICA LTDA
	TELSTAR FAR EAST COMPANY, S.A.
	AZBIL TELSTAR BRASIL CONSULTORIA LTDA
ABSORBS TO	CELESTER TECHNOLOGIES SL	BARCELONA
	TELSTAR INDUSTRIAL SL	BARCELONA
	TELSTAR TECNOLOGIA MECANICA SL	BARCELONA
	TELSTAR INSTRUMAT SL	BARCELONA
	AZBIL TELSTAR PROJECTS SA	BARCELONA
RESULT OF THE PARTIAL SPIN-OFF OF	TELSTAR INDUSTRIAL SL	BARCELONA
HAS IN ITS ADMINISTRATION BOARD TO	TELSTAR INDUSTRIAS E INVERSIONES SL	BARCELONA

Turnover

Total Sales

48.537.333,77

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

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2014

Normales

August 2015

2013

Normales

August 2014

2012

Normales

May 2013

2011

Normales

August 2012

2010

Normales

May 2012

2009

Normales

September 2010

2008

Normales

July 2009

2007

Normales

July 2009

2006

Normales

June 2007

2005

Normales

March 2007

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

> Normal format Balance in accordance with the New Accounting Plan 2007

Information corresponding to the fiscal year 2014 2013 2012 2011 2010 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2014 2013 2012 2011 2010 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria, such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2014

2013

2012

2011

2010

A) NON-CURRENT ASSETS: 11000

11.786.544,00

12.696.106,00

12.252.984,00

10.387.802,00

8.814.140,00

I. Intangible fixed assets : 11100

4.613.613,00

5.177.338,00

5.070.451,00

4.333.188,00

3.270.148,00

1. Development: 11110

3.636.491,00

3.887.893,00

3.859.648,00

4.078.952,00

3.171.114,00

2. Concessions: 11120

0,00

3. Patents, licencing, trade marks and similar: 11130

61.920,00

69.756,00

159.645,00

80.324,00

93.915,00

4. Goodwill: 11140

50.344,00

62.930,00

0,00

5. IT applications: 11150

864.857,00

1.156.758,00

1.051.158,00

173.912,00

5.119,00

6. Investigation: 11160

0,00

7. Intellectual property: 11180

0,00

8. Greenhouse gas emission allowance: 11190

0,00

9. Other intangible fixed assets. : 11170

0,00

II. Tangible fixed assets : 11200

3.540.657,00

3.637.905,00

3.772.572,00

3.567.476,00

3.172.198,00

1. Land and buildings: 11210

0,00

498.212,00

0,00

2. Technical installations and other tangible fixed assets: 11220

3.540.657,00

3.139.693,00

3.772.572,00

3.567.476,00

3.014.145,00

3. Tangible asset in progress and advances: 11230

0,00

158.053,00

III. Real estate investment: 11300

0,00

1. Land: 11310

0,00

2. Buildings: 11320

0,00

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

0,00

800,00

1. Equity instruments: 11410

0,00

800,00

2. Credits to businesses: 11420

0,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

6. Other investments: 11460

0,00

V. Long-term financial investments: 11500

155.923,00

33.668,00

37.845,00

29.460,00

69.068,00

1. Equity instruments: 11510

0,00

2. Credits to third parties : 11520

0,00

4.500,00

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

155.923,00

29.168,00

37.845,00

29.460,00

69.068,00

6. Other investments: 11560

0,00

VI. Assets for deferred tax : 11600

3.476.352,00

3.847.196,00

3.371.316,00

2.456.878,00

2.301.926,00

VII. Non-current trade debts : 11700

0,00

B) CURRENT ASSETS: 12000

30.354.782,00

36.329.761,00

32.994.247,00

29.757.673,00

32.470.293,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

7.608.606,00

7.238.627,00

5.982.478,00

8.666.157,00

6.858.362,00

1. Commercial: 12210

17.262,00

5.647,00

8.023,00

5.370,00

0,00

2. Primary material and other supplies: 12220

1.670.591,00

2.221.912,00

2.169.318,00

2.851.662,00

2.011.821,00

3. Work in progress: 12230

4.078.862,00

2.796.141,00

2.034.086,00

1.619.849,00

2.029.354,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

4.078.862,00

2.796.141,00

2.034.086,00

1.619.849,00

2.029.354,00

4. Finished goods: 12240

869.850,00

1.303.570,00

1.260.637,00

2.032.043,00

1.600.286,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

869.850,00

1.303.570,00

1.260.637,00

2.032.043,00

1.600.286,00

5. By-products, residues and recycled materials: 12250

0,00

6. Advances to suppliers: 12260

972.040,00

911.357,00

510.414,00

2.157.233,00

1.216.901,00

III. Trade debtors and others receivable accounts: 12300

19.095.009,00

22.048.128,00

21.491.889,00

15.191.414,00

12.542.146,00

1. Trade debtors / accounts receivable: 12310

15.570.064,00

15.029.756,00

11.743.085,00

10.905.299,00

9.807.022,00

a) Long-term receivables from sales and services supplied : 12311

0,00

b) Customers for sales and provisions of services : 12312

15.570.064,00

15.029.756,00

11.743.085,00

10.905.299,00

9.807.022,00

2. Customers, Group companies and associates : 12320

3.109.328,00

5.529.890,00

9.206.817,00

2.871.638,00

2.258.174,00

3. Other accounts receivable: 12330

33.406,00

39.841,00

344.905,00

893.387,00

300.000,00

4. Personnel: 12340

15.880,00

6.872,00

-497,00

54.803,00

82.007,00

5. Assets for deferred tax: 12350

366.331,00

1.441.768,00

0,00

6. Other debtors, including tax and social security: 12360

0,00

197.579,00

466.287,00

94.943,00

7. Called up share capital: 12370

0,00

IV. Short-term investments in Group companies and associates: 12400

2.655.293,00

6.591.651,00

4.884.570,00

5.070.349,00

12.916.935,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

2.655.293,00

0,00

4.884.570,00

5.070.349,00

12.916.935,00

3. Debt securities: 12430

0,00

4. Derivatives : 12440

0,00

5. Other financial assets : 12450

0,00

6.591.651,00

0,00

6. Other investments: 12460

0,00

V. Short-term financial investments : 12500

0,00

5.825,00

1.505,00

505,00

21.582,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

0,00

5.825,00

1.505,00

505,00

21.582,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

137.085,00

34.276,00

27.676,00

127.420,00

0,00

VII. Cash and other equivalent liquid assets : 12700

858.790,00

411.254,00

606.129,00

701.828,00

131.268,00

1. Treasury: 12710

858.790,00

411.254,00

606.129,00

701.828,00

131.268,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

42.141.326,00

49.025.867,00

45.247.231,00

40.145.475,00

41.284.433,00

ORIGINAL

Liabilities and Net Worth

2014

2013

2012

2011

2010

A) NET WORTH: 20000

12.584.324,00

16.765.425,00

15.707.721,00

16.114.447,00

16.922.069,00

A-1) Shareholders' equity: 21000

12.446.817,00

16.524.552,00

15.418.101,00

16.004.258,00

16.781.828,00

I. Capital: 21100

6.295.570,00

6.265.450,00

1. Registered capital : 21110

6.295.570,00

6.265.450,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

8.637.228,00

III. Reserves: 21300

4.553.361,00

4.477.236,00

4.132.036,00

4.293.279,00

4.993.279,00

1. Legal and statutory: 21310

308.805,00

232.680,00

2. Other reserves: 21320

4.244.556,00

3.899.356,00

4.060.599,00

4.760.599,00

3. Revaluation reserves: 21330

0,00

IV. (Common stock equity): 21400

0,00

V. Results from previous periods: 21500

-2.961.607,00

-3.646.733,00

-3.191.669,00

-3.114.129,00

-2.000.277,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

-2.961.607,00

-3.646.733,00

-3.191.669,00

-3.114.129,00

-2.000.277,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

-4.077.735,00

761.251,00

-455.064,00

-77.570,00

-1.113.852,00

VIII. (Interim dividend): 21800

0,00

IX. Other net worth instruments: 21900

0,00

A-2) Adjustments due to changes in value: 22000

0,00

I. Financial assets held for sale: 22100

0,00

II. Hedge operations: 22200

0,00

III. Linked non-current assets and liabilities held for sale : 22300

0,00

IV. Exchange rate difference: 22400

0,00

V. Other: 22500

0,00

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

137.507,00

240.874,00

289.620,00

110.189,00

140.241,00

B) NON-CURRENT LIABILITIES: 31000

2.218.902,00

2.986.486,00

3.683.648,00

3.179.659,00

4.231.321,00

I. Long-term provisions: 31100

233.050,00

277.786,00

208.548,00

225.168,00

295.825,00

1. Long-term employee benefits liability: 31110

0,00

2. Environmental actions: 31120

0,00

3. Restructuring provisions: 31130

0,00

4. Other provisions: 31140

233.050,00

277.786,00

208.548,00

225.168,00

295.825,00

II Long-term creditors: 31200

1.926.920,00

2.605.468,00

3.368.185,00

2.878.371,00

3.846.498,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

1.926.920,00

2.605.468,00

3.368.185,00

2.878.371,00

3.846.498,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

0,00

III. Long-term debts with Group companies and associates: 31300

0,00

IV. Liabilities for deferred tax: 31400

58.932,00

103.232,00

106.915,00

76.120,00

88.998,00

V. Long-term accruals: 31500

0,00

VI. Non-current trade creditors : 31600

0,00

VII. Special long-term debts : 31700

0,00

C) CURRENT LIABILITIES : 32000

27.338.100,00

29.273.956,00

25.855.862,00

20.851.369,00

20.131.043,00

I. Liabilities linked to non-current assets held for sale: 32100

0,00

II. Short-term provisions: 32200

0,00

1. Provisions from greenhouse gas emission allowance: 32210

0,00

2. Other provisions: 32220

0,00

III. Short-term creditors : 32300

5.549.585,00

5.863.284,00

3.476.200,00

2.556.896,00

5.606.793,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

5.494.181,00

5.863.284,00

3.476.200,00

2.556.896,00

5.606.793,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

55.404,00

0,00

IV. Short-term debts with Group companies and associates: 32400

2.439.303,00

1.949.174,00

443.028,00

0,00

V. Trade creditors and other accounts payable: 32500

19.349.212,00

21.447.249,00

21.936.634,00

18.294.473,00

14.524.250,00

1. Suppliers: 32510

8.180.812,00

9.498.313,00

8.342.139,00

10.799.691,00

8.268.499,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

8.180.812,00

9.498.313,00

8.342.139,00

10.799.691,00

8.268.499,00

2. Suppliers, Group companies and associates: 32520

3.515.816,00

5.471.082,00

5.376.022,00

3.758.049,00

1.575.275,00

3. Other creditors: 32530

1.985.801,00

1.695.278,00

2.219.132,00

2.486.414,00

1.177.173,00

4. Personnel (remuneration due): 32540

1.040.521,00

387.170,00

441.140,00

499.873,00

609.777,00

5. Liabilities for current tax: 32550

0,00

6. Other accounts payable to Public Administrations.: 32560

855.162,00

1.623.631,00

1.787.986,00

1.035.393,00

404.085,00

7. Advances from clients: 32570

3.771.099,00

2.771.776,00

3.770.215,00

-284.947,00

2.489.441,00

VI. Short-term accruals: 32600

0,00

14.250,00

0,00

VII. Special short-term debts : 32700

0,00

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

42.141.326,00

49.025.867,00

45.247.231,00

40.145.475,00

41.284.433,00

ORIGINAL

Profit and Loss

2014

2013

2012

2011

2010

1. Net turnover: 40100

48.537.334,00

59.280.792,00

45.382.797,00

46.767.355,00

30.709.186,00

a) Sales: 40110

40.879.631,00

49.792.609,00

45.382.797,00

46.767.355,00

30.709.186,00

b) Rendering of services: 40120

7.657.703,00

9.488.182,00

0,00

c) Income of financial nature of holding companies: 40130

0,00

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

849.001,00

-806.056,00

-1.270.716,00

1.029.150,00

-1.175.781,00

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

1.439.324,00

1.590.103,00

1.221.522,00

1.658.832,00

842.286,00

4. Supplies : 40400

-25.512.794,00

-29.973.822,00

-20.715.119,00

-25.842.185,00

-15.324.406,00

a) Stock consumption: 40410

-20.316.402,00

0,00

b) Consumption of raw materials and miscellaneous consumable ones: 40420

0,00

-22.394.837,00

-15.308.266,00

-19.222.603,00

-14.181.630,00

c) Works carried out by other companies: 40430

-4.958.984,00

-7.542.063,00

-5.813.586,00

-6.642.414,00

-1.254.501,00

d) Impairment of stock, primary material and other supplies: 40440

-237.408,00

-36.921,00

406.733,00

22.832,00

111.725,00

5. Other operating income: 40500

345.237,00

470.296,00

330.675,00

1.088.378,00

1.294.493,00

a) Auxiliary income and other from current management: 40510

315.238,00

413.430,00

182.528,00

819.999,00

1.271.964,00

b) Operation subsidies included in the Period's result: 40520

29.999,00

56.866,00

148.147,00

268.379,00

22.529,00

6. Personnel costs: 40600

-17.397.164,00

-16.689.724,00

-15.247.186,00

-14.840.118,00

-9.678.967,00

a) Wages, salaries et al.: 40610

-13.415.060,00

-12.819.833,00

-11.720.761,00

-11.450.554,00

-7.405.906,00

b) Social security costs: 40620

-3.982.104,00

-3.869.891,00

-3.526.425,00

-3.389.564,00

-2.273.061,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-9.542.240,00

-10.868.665,00

-8.904.995,00

-8.693.375,00

-7.109.792,00

a) External services: 40710

-9.352.757,00

-10.785.127,00

-9.169.025,00

-8.601.699,00

-6.772.188,00

b) Taxes: 40720

-98.725,00

-56.377,00

-43.583,00

-42.055,00

-29.451,00

c) Losses, impairments and variation in provisions from trade operations : 40730

-89.353,00

-27.161,00

6.917,00

-49.621,00

-308.153,00

d) Other current management expenditure : 40740

-1.405,00

0,00

300.696,00

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-2.092.178,00

-1.868.318,00

-1.602.102,00

-1.194.362,00

-1.136.438,00

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

147.667,00

159.286,00

0,00

42.931,00

169.583,00

10. Excess provisions : 41000

0,00

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

-12.586,00

2.260,00

161.712,00

-63.065,00

-181.369,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

-12.586,00

2.260,00

161.712,00

-63.065,00

-181.369,00

c) Impairment and profit due to disposals of assets of holding companies: 41130

0,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

0,00

-30.414,00

0,00

A.1) OPERATING INCOME (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) : 49100

-3.238.399,00

1.265.738,00

-643.412,00

-46.459,00

-1.591.205,00

14. Financial income : 41400

61.031,00

49.237,00

43.350,00

246.507,00

115.304,00

a) Of shares in equity instruments : 41410

0,00

a 1) In Group companies and associates: 41411

0,00

a 2) In third parties: 41412

0,00

b) From negotiable securities and other financial instruments : 41420

61.031,00

49.237,00

43.350,00

246.507,00

115.304,00

b 1) From Group companies and associates : 41421

58.778,00

18.188,00

40.366,00

242.988,00

103.801,00

b 2) From third parties : 41422

2.253,00

31.049,00

2.984,00

3.519,00

11.503,00

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

0,00

15. Financial expenditure: 41500

-408.990,00

-401.504,00

-336.935,00

-429.384,00

-327.857,00

a) Amounts owed to Group companies and associates : 41510

0,00

-401.504,00

0,00

b) For debts with third parties : 41520

-408.990,00

0,00

-336.935,00

-429.384,00

-327.857,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

a) Trading book and other : 41610

0,00

b) Allocation of financial assets held for sale to the result for the period: 41620

0,00

17. Exchange rate differences : 41700

-91.796,00

-27.249,00

-11.924,00

-7.335,00

3.304,00

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

0,00

a) Impairment and losses : 41810

0,00

b) Results for transfers and other : 41820

0,00

19. Other financial income and expenditure: 42100

0,00

a) Incorporation of financial expenditure to assets: 42110

0,00

b) Financial income from arrangement with creditors: 42120

0,00

c) Other income and expenditure: 42130

0,00

A.2) FINANCIAL REVENUE (14+15+16+17+18+19) : 49200

-439.755,00

-379.517,00

-305.509,00

-190.212,00

-209.249,00

A.3) NET RESULT BEFORE TAXES (A.1+A.2) : 49300

-3.678.154,00

886.221,00

-948.921,00

-236.671,00

-1.800.454,00

20. Income taxes: 41900

-399.581,00

-124.970,00

493.857,00

159.101,00

686.602,00

A.4) PROFIT AFTER TAXES (A.3+20) : 49400

-4.077.735,00

761.251,00

-455.064,00

-77.570,00

-1.113.852,00

21. Result of the year coming from interrupted operations : 42000

0,00

A.5) RESULT OF THE PERIOD (A.4+21) : 49500

-4.077.735,00

761.251,00

-455.064,00

-77.570,00

-1.113.852,00

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

Information corresponding to the fiscal year 2014 2013 2012 2011 2010 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria, Axesor created such criteria using its own methodology. To view details on the methodology 2014 2013 2012 2011 2010 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2014

2013

2012

2011

2010

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

8.310.193,00

8.848.910,00

8.881.668,00

7.930.924,00

6.512.214,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

4.613.613,00

5.177.338,00

5.070.451,00

4.333.188,00

3.270.148,00

1. Research and development costs:

3.636.491,00

3.887.893,00

3.859.648,00

4.078.952,00

3.171.114,00

2. Concessions, patents, licences, trademarks et al.:

61.920,00

69.756,00

159.645,00

80.324,00

93.915,00

3. Goodwill:

50.344,00

62.930,00

0,00

4. Key money paid for premises:

0,00

5. Software:

864.857,00

1.156.758,00

1.051.158,00

173.912,00

5.119,00

6. Assets under capital leases:

0,00

7. Payments on account:

0,00

8. Provisions:

0,00

9. Accumulated depreciation:

0,00

III. Tangible fixed assets:

3.540.657,00

3.637.905,00

3.772.572,00

3.567.476,00

3.172.198,00

1. Land and construction:

0,00

498.212,00

0,00

2. Technical installations and machinery:

3.540.657,00

3.139.693,00

3.772.572,00

3.567.476,00

3.014.145,00

3. Other installations, tools and furniture:

0,00

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

0,00

158.053,00

5. Other tangible assets:

0,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

155.923,00

33.668,00

38.645,00

30.260,00

69.868,00

1. Equity investments in group companies:

0,00

800,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

0,00

6. Other receivables:

0,00

4.500,00

0,00

7. Long term guarantees and deposits:

155.923,00

29.168,00

37.845,00

29.460,00

69.068,00

8. Provisions:

0,00

9. Long-term receivables from public bodies:

0,00

V. Own shares:

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

33.831.134,00

40.176.957,00

36.365.563,00

32.214.551,00

34.772.219,00

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

0,00

II. Stocks:

7.608.606,00

7.238.627,00

5.982.478,00

8.666.157,00

6.858.362,00

1. Goods for resale:

17.262,00

5.647,00

8.023,00

5.370,00

0,00

2. Raw materials and other consumables:

1.670.591,00

2.221.912,00

2.169.318,00

2.851.662,00

2.011.821,00

3. Goods in process and semifinished ones:

4.078.862,00

2.796.141,00

2.034.086,00

1.619.849,00

2.029.354,00

4. Finished products:

869.850,00

1.303.570,00

1.260.637,00

2.032.043,00

1.600.286,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

972.040,00

911.357,00

510.414,00

2.157.233,00

1.216.901,00

7. Provisions:

0,00

III. Debtors:

22.571.360,00

25.895.324,00

24.863.205,00

17.648.292,00

14.844.072,00

1. Trade debtors / accounts receivable:

15.570.064,00

15.029.756,00

11.743.085,00

10.905.299,00

9.807.022,00

2. Accounts receivable, Group companies:

3.109.328,00

5.529.890,00

9.206.817,00

2.871.638,00

2.258.174,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

33.406,00

39.841,00

344.905,00

893.387,00

300.000,00

5. Staff:

15.880,00

6.872,00

-497,00

54.803,00

82.007,00

6. Public bodies:

3.842.683,00

5.288.964,00

3.568.895,00

2.923.165,00

2.396.869,00

7. Provisions:

0,00

IV. Short-term investments:

2.655.293,00

6.597.476,00

4.886.075,00

5.070.854,00

12.938.517,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

2.655.293,00

0,00

4.884.570,00

5.070.349,00

12.916.935,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

0,00

6. Other receivables:

0,00

6.591.651,00

0,00

7. Shor term guarantees and deposits:

0,00

5.825,00

1.505,00

505,00

21.582,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

858.790,00

411.254,00

606.129,00

701.828,00

131.268,00

VII. Prepayments and accrued income:

137.085,00

34.276,00

27.676,00

127.420,00

0,00

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

42.141.326,00

49.025.867,00

45.247.231,00

40.145.475,00

41.284.433,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2014

2013

2012

2011

2010

A) EQUITY:

12.488.069,00

16.596.814,00

15.504.987,00

16.037.315,00

16.823.900,00

I. Subscribed capital:

6.295.570,00

6.265.450,00

II. Share premium:

8.637.228,00

III. Revaluation reserves:

0,00

IV. Reserves:

4.594.613,00

4.549.498,00

4.218.922,00

4.326.336,00

5.035.351,00

1. Legal reserve:

308.805,00

232.680,00

2. Reserves for own shares:

0,00

3. Reserves for shares of the controlling company:

0,00

4. Statutory reserves:

0,00

5. Miscellaneous reserves:

4.285.808,00

4.316.818,00

3.986.242,00

4.093.656,00

4.802.671,00

Differences due to capital adjustement to euros:

0,00

V. Profit or loss brought forward:

-2.961.607,00

-3.646.733,00

-3.191.669,00

-3.114.129,00

-2.000.277,00

1. Retained earnings:

0,00

2. Prior year losses:

-2.961.607,00

-3.646.733,00

-3.191.669,00

-3.114.129,00

-2.000.277,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

-4.077.735,00

761.251,00

-455.064,00

-77.570,00

-1.113.852,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

96.255,00

168.611,00

202.734,00

77.132,00

98.169,00

1. Capital grants:

96.255,00

168.611,00

202.734,00

77.132,00

98.169,00

2. Unrealised exchange gains:

0,00

3. Other deferred income:

0,00

4. Public revenues to distribute in several financial years:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

233.050,00

277.786,00

208.548,00

225.168,00

295.825,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

233.050,00

277.786,00

208.548,00

225.168,00

295.825,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

1.985.852,00

2.708.700,00

3.475.100,00

2.954.491,00

3.935.496,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

II. Amounts owed to credit institutions:

1.926.920,00

2.605.468,00

3.368.185,00

2.878.371,00

3.846.498,00

1. Loans and other liabilities:

1.926.920,00

2.605.468,00

3.368.185,00

2.878.371,00

3.846.498,00

2. Long-term liabilities from capital leases:

0,00

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

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

58.932,00

103.232,00

106.915,00

76.120,00

88.998,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

58.932,00

103.232,00

106.915,00

76.120,00

88.998,00

V. Unpaid portion of equity investment:

0,00

1. Group companies:

0,00

2. Associated companies:

0,00

3. Third parties:

0,00

VI. Long term trade creditors:

0,00

E) SHORT TERM CREDITORS:

27.338.100,00

29.273.956,00

25.855.862,00

20.851.369,00

20.131.043,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

4. Accrued interest on debentures and other debt securities:

0,00

II. Amounts owed to credit institutions:

5.494.181,00

5.863.284,00

3.476.200,00

2.556.896,00

5.606.793,00

1. Loans and other liabilities:

5.494.181,00

5.863.284,00

3.476.200,00

2.556.896,00

5.606.793,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

0,00

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

5.955.119,00

7.420.256,00

5.819.050,00

3.758.049,00

1.575.275,00

1. Amounts owed to group companies:

5.955.119,00

7.420.256,00

5.819.050,00

3.758.049,00

1.575.275,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

13.937.712,00

13.965.367,00

14.331.486,00

13.001.158,00

11.935.113,00

1. Advanced payments from customers:

3.771.099,00

2.771.776,00

3.770.215,00

-284.947,00

2.489.441,00

2. Amounts owed for purchases of goods or services:

10.166.613,00

11.193.591,00

10.561.271,00

13.286.105,00

9.445.672,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

1.951.088,00

2.010.800,00

2.229.126,00

1.535.266,00

1.013.862,00

1. Public bodies:

855.162,00

1.623.631,00

1.787.986,00

1.035.393,00

404.085,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

55.404,00

0,00

4. Wages and salaries payable:

1.040.521,00

387.170,00

441.140,00

499.873,00

609.777,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

0,00

14.250,00

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

42.141.326,00

49.025.867,00

45.247.231,00

40.145.475,00

41.284.433,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2014

2013

2012

2011

2010

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

55.457.328,00

60.790.722,00

47.595.120,00

50.910.723,00

34.248.008,00

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

0,00

806.056,00

1.270.716,00

0,00

1.175.781,00

A.2. Supplies:

25.275.386,00

29.936.900,00

21.121.852,00

25.865.017,00

15.436.131,00

a) Stock consumption:

20.316.402,00

0,00

b) Consumption of raw materials and miscellaneous consumable ones:

0,00

22.394.837,00

15.308.266,00

19.222.603,00

14.181.630,00

c) Miscellaneous external expenditure:

4.958.984,00

7.542.063,00

5.813.586,00

6.642.414,00

1.254.501,00

A.3. Staff costs:

17.397.164,00

16.689.724,00

15.247.186,00

14.840.118,00

9.678.967,00

a) Wages, salaries et al.:

13.415.060,00

12.819.833,00

11.720.761,00

11.450.554,00

7.405.906,00

b) Social security costs:

3.982.104,00

3.869.891,00

3.526.425,00

3.389.564,00

2.273.061,00

A.4. Depreciation expense:

2.092.178,00

1.868.318,00

1.602.102,00

1.194.362,00

1.136.438,00

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

326.761,00

64.083,00

-413.650,00

26.789,00

196.428,00

a) Stock provision variation:

237.408,00

36.921,00

-406.733,00

-22.832,00

-111.725,00

b) Variation in provision and bad debt losses:

0,00

c) Variation of other trade provisions:

89.353,00

27.161,00

-6.917,00

49.621,00

308.153,00

A.6. Other operating charges:

9.452.887,00

10.841.504,00

8.911.912,00

8.643.754,00

6.801.639,00

a) External services:

9.352.757,00

10.785.127,00

9.169.025,00

8.601.699,00

6.772.188,00

b) Taxes:

98.725,00

56.377,00

43.583,00

42.055,00

29.451,00

c) Other operating expenses:

1.405,00

0,00

-300.696,00

0,00

d) Allocation to revision fund:

0,00

A.I. OPERATING BENEFITS (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6):

0,00

1.134.606,00

0,00

A.7. Financial and similar charges:

408.990,00

401.504,00

336.935,00

429.384,00

327.857,00

a) Due to liabilities with companies of the group:

0,00

401.504,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

408.990,00

0,00

336.935,00

429.384,00

327.857,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

91.796,00

27.249,00

11.924,00

7.335,00

0,00

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

0,00

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

0,00

755.090,00

0,00

A.10. Changes in provisions for intangible, tangible and securities portfolio:

0,00

A.11. Losses from tangible and intangible fixed assets and securities portfolio:

12.586,00

0,00

63.065,00

181.369,00

A.12. Losses from transactions with own shares and debentures:

0,00

A.13. Extraordinary expenses:

0,00

30.414,00

0,00

A.14. Expenses and losses of former financial years:

0,00

A.IV. EXTRAORDINARY PROFIT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14):

135.081,00

131.132,00

161.712,00

0,00

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

0,00

886.221,00

0,00

A.15. Corporation tax:

399.581,00

124.970,00

-493.857,00

-159.101,00

-686.602,00

A.16. Miscellaneous taxes:

0,00

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

0,00

761.251,00

0,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2014

2013

2012

2011

2010

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

51.379.593,00

61.551.973,00

47.140.056,00

50.833.153,00

33.134.156,00

B.1. Net total sales:

48.537.334,00

59.280.792,00

45.382.797,00

46.767.355,00

30.709.186,00

a) Sales:

40.879.631,00

49.792.609,00

45.382.797,00

46.767.355,00

30.709.186,00

b) Rendering of services:

7.657.703,00

9.488.182,00

0,00

Returns and Rappel on sales:

0,00

B.2. Stock increase of manufactured goods and products in process:

849.001,00

0,00

1.029.150,00

0,00

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

1.439.324,00

1.590.103,00

1.221.522,00

1.658.832,00

842.286,00

B.4. Miscellaneous operating income:

345.237,00

470.296,00

330.675,00

1.088.378,00

1.294.493,00

a) Auxiliary income and other from current management:

315.238,00

413.430,00

182.528,00

819.999,00

1.271.964,00

b) Grants:

29.999,00

56.866,00

148.147,00

268.379,00

22.529,00

c) Liabilities and charges provisions surplus:

0,00

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

3.373.480,00

0,00

805.124,00

26.325,00

1.579.419,00

B.5. Income from equity investment:

0,00

a) In companies of the group:

0,00

b) In associated companies:

0,00

c) Third parties:

0,00

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

0,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

B.7. Miscellaneous interests or similar income:

61.031,00

49.237,00

43.350,00

246.507,00

115.304,00

a) From companies of the group:

58.778,00

18.188,00

40.366,00

242.988,00

103.801,00

b) From associated companies:

0,00

c) Miscellaneous interests:

2.253,00

31.049,00

2.984,00

3.519,00

11.503,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

0,00

3.304,00

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

439.755,00

379.517,00

305.509,00

190.212,00

209.249,00

B.III. LOSSES ON ORDINARY ACTIVITIES ( B.I + B.II - A.I - A.II ):

3.813.235,00

0,00

1.110.633,00

216.537,00

1.788.668,00

B.9.Profit on disposal of both tangible and intangible fixed assets and securities portfolio:

0,00

2.260,00

161.712,00

0,00

B.10. Profit on transactions with own shares and debentures:

0,00

B.11. Capital grants transferred to profit and loss:

147.667,00

159.286,00

0,00

42.931,00

169.583,00

B.12. Extraordinary income:

0,00

B.13. Income and profit of former financial years:

0,00

B.IV. NEGATIVE EXTRAORDINARY RESULTS (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13):

0,00

20.134,00

11.786,00

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

3.678.154,00

0,00

948.921,00

236.671,00

1.800.454,00

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

4.077.735,00

0,00

455.064,00

77.570,00

1.113.852,00

MERCANTILE REGISTRY.

CASHFLOW STATEMENT

Model: Normal

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

2014

2013

2012

2011

2010

1. Fiscal year result before taxes.: 61100

-3.678.154,00

886.221,00

-948.921,00

-236.671,00

-1.800.454,00

2. Results adjustments.: 61200

1.100.696,00

447.909,00

1.177.638,00

1.353.507,00

1.541.683,00

a) Fixed Assets Amortization (+).: 61201

2.092.178,00

1.869.384,00

1.602.102,00

1.194.362,00

1.136.438,00

b) Obsolescence Allowances (+/-). : 61202

339.347,00

5.156,00

-413.650,00

0,00

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

0,00

-43.866,00

180.906,00

d) Allocation of grants (-).: 61204

-147.667,00

-159.286,00

-142.687,00

-42.931,00

-169.583,00

e) Results on disposal of fixed assets (+/-). : 61205

0,00

-2.260,00

-161.712,00

63.065,00

181.369,00

f) Results on disposal of financial instruments (+/-).: 61206

-61.031,00

-49.237,00

0,00

g) Financial income (-).: 61207

0,00

-43.350,00

-246.507,00

-115.304,00

h) Financial Expenses (+). : 61208

408.990,00

401.504,00

336.935,00

429.384,00

327.857,00

i) Exchange differences (+/-). : 61209

-91.786,00

-27.249,00

0,00

k) Other income and expense (-/+). : 61211

0,00

-1.590.103,00

0,00

3. Changes in current capital equity.: 61300

87.663,00

-2.383.811,00

-706.737,00

-712.099,00

4.576.162,00

a) Stock (+/-).: 61301

-607.386,00

-1.293.072,00

2.683.679,00

-1.807.795,00

1.465.824,00

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

2.983.614,00

-583.400,00

-6.300.475,00

-2.649.267,00

-1.246.629,00

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

-102.809,00

-10.920,00

-1.000,00

21.076,00

46.432,00

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

-2.126.770,00

-496.419,00

3.642.161,00

3.966.651,00

4.274.081,00

e) Other current liabilities (+/-).: 61305

-14.250,00

0,00

f) Other non-current assets and liabilities (+/-).: 61306

-44.736,00

0,00

-731.102,00

-242.764,00

36.454,00

4. Other cash flows for operating activities.: 61400

-347.959,00

-352.267,00

200.272,00

-182.877,00

-212.553,00

a) Interest payments (-). : 61401

-408.990,00

-401.504,00

-336.935,00

-429.384,00

-327.857,00

c) Interest collection (+). : 61403

61.031,00

49.237,00

43.350,00

246.507,00

115.304,00

d) Income tax payment collection (payments) (+/-).: 61404

0,00

493.857,00

0,00

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

-2.837.754,00

-1.401.948,00

-277.748,00

221.860,00

4.104.838,00

6. Payments for investment (-).: 62100

-246.571,00

-1.957.158,00

-3.110.815,00

-2.715.747,00

-9.546.658,00

a) Companies of the group and affiliates. : 62101

0,00

-1.707.081,00

0,00

-6.438.832,00

b) Intangible fixed assets. : 62102

-19.443,00

-225.637,00

-2.411.110,00

-1.785.332,00

-852.249,00

c) Fixed assets. : 62103

-104.873,00

-24.440,00

-699.705,00

-930.415,00

-2.255.577,00

e) Other financial assets. : 62105

-122.255,00

0,00

7. Divestment payment collection (+). : 62200

3.942.183,00

11.543,00

661.397,00

2,00

2.762.581,00

a) Companies of the group and affiliates. : 62201

3.936.358,00

0,00

140.000,00

c) Fixed assets. : 62203

0,00

6.566,00

661.397,00

2,00

3.312,00

e) Other financial assets. : 62205

5.825,00

4.977,00

0,00

2.619.269,00

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

3.695.612,00

-1.945.615,00

-2.449.418,00

-2.715.745,00

-6.784.077,00

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

-103.366,00

62.754,00

279.312,00

0,00

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

-103.366,00

62.754,00

279.312,00

0,00

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

-502.120,00

3.062.687,00

2.352.155,00

3.764.445,00

2.172.290,00

a) Issuance : 63201

-502.120,00

3.062.686,00

443.028,00

7.846.586,00

0,00

2. Debts incurred with credit institutions (+). : 63203

0,00

1.624.370,00

0,00

3. Debts incurred with companies of the group and affiliates (+).: 63204

490.130,00

1.506.145,00

443.028,00

7.846.586,00

0,00

5. Other debts (+). : 63206

-992.250,00

-67.829,00

0,00

b) Repayment and amortization of : 63207

0,00

1.909.127,00

-4.082.141,00

2.172.290,00

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

0,00

1.409.118,00

-4.018.023,00

2.172.290,00

5. Other debts (-). : 63212

0,00

500.009,00

-64.118,00

0,00

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

0,00

-700.000,00

0,00

a) Dividends (-).: 63301

0,00

-700.000,00

0,00

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

-502.120,00

3.125.441,00

2.631.467,00

3.064.445,00

2.172.290,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

91.796,00

27.249,00

0,00

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

447.533,00

-194.873,00

-95.699,00

570.560,00

-506.949,00

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

411.254,00

606.129,00

701.828,00

131.268,00

638.217,00

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

858.790,00

411.255,00

606.129,00

701.828,00

131.268,00

FINANCIAL DIAGNOSIS

> Economic-Financial Comparative Analysis

Data used in the following ratios and indicators is taken from the Annual Accounts submitted by the company to the TRADE REGISTER.

> Comparison within the Sector

Cash Flow

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,01 %

0,05 %

0,00 %

0,01 %

295,53 %

EBITDA over Sales:

-2,64 %

11,79 %

5,07 %

11,36 %

-152,11 %

3,73 %

Cash Flow Yield:

0,01 %

0,03 %

0,00 %

0,01 %

310,86 %

Profitability

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

-8,23 %

8,97 %

3,06 %

6,91 %

-369,32 %

29,85 %

Total economic profitability:

-7,76 %

4,85 %

2,63 %

3,75 %

-395,35 %

29,47 %

Financial profitability:

-32,76 %

6,72 %

4,61 %

4,22 %

-811,15 %

59,24 %

Margin:

-6,44 %

7,74 %

2,11 %

6,73 %

-404,56 %

15,04 %

Mark-up:

-7,31 %

6,96 %

1,49 %

4,47 %

-589,13 %

55,53 %

Solvency

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,03

0,16

0,01

0,13

123,62

16,84

Acid Test:

0,83

0,93

0,99

0,87

-16,68

6,93

Working Capital / Investment:

0,07

0,03

0,14

0,05

-50,26

-42,45

Solvency:

1,24

1,22

1,37

1,18

-9,83

3,80

Indebtedness

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

2,29

1,28

1,88

1,38

21,92

-7,53

Borrowing Composition:

0,07

1,24

0,09

1,00

-21,49

24,41

Repayment Ability:

65,52

21,77

-164,12

92,38

139,92

-76,44

Warranty:

1,44

1,79

1,53

1,73

-6,25

3,29

Generated resources / Total creditors:

-0,06

0,08

-171,50

-2,08

Efficiency

2014

2013

Variación 2014 - 2013

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

0,93

1,96

1,18

1,85

-21,49

5,99

Turnover of Collection Rights :

2,64

5,67

2,78

5,00

-5,28

13,49

Turnover of Payment Entitlements:

1,86

3,74

1,87

3,64

-0,60

2,97

Stock rotation:

7,06

9,98

8,32

7,34

-15,15

35,92

Assets turnover:

1,28

1,16

1,45

1,03

-11,57

12,87

Borrowing Cost:

1,39

2,96

1,26

2,86

11,10

3,60

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

Cash Flow

2014

2013

2012

2011

2010

Cash Flow over Sales:

0,01 %

0,00 %

0,01 %

-0,02 %

EBITDA over Sales:

-2,64 %

5,07 %

1,76 %

2,50 %

-1,44 %

Cash Flow Yield:

0,01 %

0,00 %

0,01 %

-0,01 %

Profitability

2014

2013

2012

2011

2010

Operating economic profitability:

-8,23 %

3,06 %

-1,60 %

-0,13 %

-5,63 %

Total economic profitability:

-7,76 %

2,63 %

-1,35 %

0,48 %

-3,57 %

Financial profitability:

-32,76 %

4,61 %

-2,95 %

-0,48 %

-6,64 %

Margin:

-6,44 %

2,11 %

-1,37 %

-0,09 %

-4,84 %

Mark-up:

-7,31 %

1,49 %

-2,02 %

-0,48 %

-5,48 %

Solvency

2014

2013

2012

2011

2010

Liquidity:

0,03

0,01

0,02

0,03

0,01

Acid Test:

0,83

0,99

1,04

1,01

1,27

Working Capital / Investment:

0,07

0,14

0,16

0,22

0,30

Solvency:

1,24

1,37

1,41

1,54

1,73

Indebtedness

2014

2013

2012

2011

2010

Indebtedness level:

2,29

1,88

1,84

1,46

1,40

Borrowing Composition:

0,07

0,09

0,13

0,14

0,20

Repayment Ability:

65,52

-164,12

-306,49

41,72

-47,47

Warranty:

1,44

1,53

1,54

1,69

1,72

Generated resources / Total creditors:

-0,06

0,08

0,03

0,05

0,00

Efficiency

2014

2013

2012

2011

2010

Productivity:

0,93

1,18

1,05

1,08

0,95

Turnover of Collection Rights :

2,64

2,78

2,18

3,26

2,62

Turnover of Payment Entitlements:

1,86

1,87

1,29

1,94

1,46

Stock rotation:

7,06

8,32

7,98

5,72

5,02

Assets turnover:

1,28

1,45

1,16

1,41

1,16

Borrowing Cost:

1,39

1,26

1,15

1,80

1,36

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

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

Suministro e instalación de un equipo de pulverización catódica

Date Awarded:

25/06/2015

Cost:

171.215,00 EURO.

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

SUMINISTRO E INSTALACION DE UN EQUIPO DE PULVERIZACION CATODICA

Date Awarded:

25/06/2015

Cost:

171.215,00 EURO.

Organisation that calls the tender:

UNIVERSITAT AUTONOMA DE BARCELONA

Objective of Tender:

SUBMINISTRAMENT D UN SISTEMA DE RECOBRIMENT PER SPUTTERING

Date Awarded:

11/06/2015

Cost:

142.500,00 EURO.

Organisation that calls the tender:

UNIVERSIDAD DE ZARAGOZA

Objective of Tender:

SUMINISTRO E INSTALACION DE UN PERFILOMETRO MECANICO

Date Awarded:

18/05/2015

Cost:

41.503,00 EURO.

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

SUMINISTRO E INSTALACION DE UNA MESA CRIOGENICA PARA MEDIDAS ELECTRICAS MEDIANTE PUNTAS CON CONTROL MICROMETRICO CON DESTINO AL INSTITUTO DE CIENCIA DE MATERIALES DE BARCELONA

Date Awarded:

19/12/2014

Cost:

174.845,00 EURO.

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

SUMINISTRO E INSTALACION DE UNA MESA CRIOGENICA PARA MEDIDAS ELECTRICAS MEDIANTE PUNTAS CON CONTROL MICROMETRICO CON DESTINO AL INSTITUTO DE DE CIENCIA DE MATERIALES DE BARCELONA

Date Awarded:

19/12/2014

Cost:

174.845,00 EURO.

Organisation that calls the tender:

UNIVERSIDAD DE VALENCIA

Objective of Tender:

SUMINISTRO DE UNA CAMARA DE ULTRA VACIO PARA LA INTRODUCCION DE MUESTRAS CON DESTINO AL INSTITUT DE CIENCIA MOLECULAR

Date Awarded:

30/10/2014

Cost:

63.056,73 EURO.

Organisation that calls the tender:

UNIVERSIDAD DE VALENCIA

Objective of Tender:

SUMINISTRO DE UNA CAJA DE GUANTES PARA UN SISTEMA DE EVAPORACION DE METALES CON DESTINO AL INSTITUT DE CIENCIA MOLECULAR DE LA UNIVERSITAT DE VALENCIA

Date Awarded:

30/06/2014

Cost:

54.450,00 EURO.

Organisation that calls the tender:

AGENCIA ESPAÑOLA DE MEDICAMENTOS Y PRODUCTOS SANITARIOS

Objective of Tender:

SERVICIOO DE MANTENIMIENTO PREVENTIVO Y VERIFICACION DE LAS SALAS DE CPR Y DE LA ZONA ESTERIL, Y VERFICIACION DE LAS CABINAS DE FLUJO LAMINAR DE LA MARCA TELSTAR EN LOS LABORATORIOS DE LA AGENCIA ESPAÑOLA DE MEDICAMENTOS Y PRODUCTOS SANITARIOS

Date Awarded:

23/01/2014

Cost:

39.286,32 EURO.

Organisation that calls the tender:

UNIVERSIDAD DE SEVILLA

Objective of Tender:

BIOWASTE PARA LABORATORIO P3 DE ALTA SEGURIDAD BIOLOGICA DEL IBIS

Date Awarded:

14/01/2014

Cost:

283.621,58 EURO.

Organisation that calls the tender:

INSTITUTO NACIONAL DE TECNICA AEROESPACIAL

Objective of Tender:

MANTENIMIENTO DE LA CAMARA DE VACIO DEL LINES

Date Awarded:

04/12/2013

Cost:

22.990,00 EURO.

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

SUMINISTRO E INSTALACION DE UN ACCESORIO PARA EL CONTROL DE TEMPERATURA Y OTRO PARA MEDIDAS ELECTRICAS EN EL MICROSCOPIO DE FUERZAS ATOMICAS AFM MULTIMODE, NANOSCOPE CON DESTINO AL INSTITUTO DE ESTRUCTURA DE LA MATERIA

Date Awarded:

11/11/2013

Cost:

64.856,00 EURO.

Organisation that calls the tender:

CENTRO DE INVESTIGACIONES ENERGETICAS MEDIOAMBIENTALES Y TECNOLOGICAS CIEMAT

Objective of Tender:

ADQUISICION DE UN PERFILOMETRO MECANICO AUTOMATICO PARA MEDIDA DE RUGOSIDAD Y PROFUNDIDAD

Date Awarded:

22/10/2013

Cost:

52.973,80 EURO.

Organisation that calls the tender:

UNIVERSIDAD DE GRANADA

Objective of Tender:

SUMINISTRO DE DE DIVERSO EQUIPAMIENTO CIENTIFICO O TECNICO PARA EL INSTITUTO MIXTO UNIVERSITARIO DEPORTE Y SALUD IMUDS

Date Awarded:

19/09/2013

Cost:

Importe compartido entre distintos Contratistas

Organisation that calls the tender:

UNIVERSIDAD DE VALENCIA

Objective of Tender:

SISTEMA DE ULTRA VACIO UHV PARA LA DEPOSICION DE METALES

Date Awarded:

09/09/2013

Cost:

361.790,00 EURO.

Organisation that calls the tender:

UMIVALE MATEPSS

Objective of Tender:

SUMINISTRO DE UN LIOFILIZADOR DE LABORATORIO C O VIGO

Date Awarded:

19/12/2012

Cost:

58.958,46 EURO.

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

SUMINISTRO E INSTALACION DE UN AISLADOR RIGIDO EN CAMARA DE 4 GUANTES Y CON FUNCIONAMIENTO EN PRESION NEGATIVA CON DESTINO AL INSTITUTO DE CIENCIA DE LOS MATERIALES DE BARCELONA

Date Awarded:

17/07/2012

Cost:

69.974,00 EURO.

Organisation that calls the tender:

UNIVERSIDAD POLITECNICA DE MADRID

Objective of Tender:

Suministro de cámara de vacío térmica para el Instituto de Microgravedad "Ignacio Da Riva" del Parque Científico y Tecnológico, en Montegancedo

Date Awarded:

01/08/2011

Cost:

259.600,00 EURO.

Organisation that calls the tender:

INSTITUTO NACIONAL DE TECNICA AEROESPACIAL

Objective of Tender:

ACTUALIZACION Y MEJORA DEL SIMULADOR 4 X 4

Date Awarded:

05/08/2010

Organisation that calls the tender:

INSTITUTO NACIONAL DE TECNICA AEROESPACIAL

Objective of Tender:

MANTENIMIENTOS DE LOS EQUIPOS DE LA SALA LIMPIA DEL LINES

Date Awarded:

24/11/2009

Cost:

32.248,00 EURO.

Organisation that calls the tender:

CENTRO NACIONAL DE INVESTIGACIONES CARDIOVASCULARES CARLOS III

Objective of Tender:

ADQUISICION DE AUTOCLAVE

Date Awarded:

17/11/2009

Cost:

150.220,00 EURO.

Organisation that calls the tender:

CONSEJO SUPERIOR DE INVESTIGACIONES CIENTIFICAS CSIC

Objective of Tender:

suministro e instalación de un esterilizador a vapor con sello doble biológico de 6.000 litros, un esterilizador a vapor con doble sello biológico de 3.000 litros, ambos para conectar a vapor de red y un esterilizador a vapor con doble sello biológico de 875 litros con generador de vapor integrado, para conectar a vapor

Date Awarded:

08/06/2009

Cost:

458.200,00 EURO.

Detail of Subsidies appearing in Balances Memories

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

147.667,00

Notes

El importe reflejado corresponde al transferido a la cuenta de pérdidas y ganancias, quedando un saldo pendiente al cierre de 137.507 euros.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

142.687,00

Notes

Dicho importe corresponde al traspasado a resultados del ejercicio, quedando a fecha de cierre pendiente de imputar 289.620 euros. Subvención implícita en préstamos con tipo de interés cero.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

5.460,00

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

268.379,00

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

110.189,00

Notes

El importe reflejado corresponde al saldo al cierre del ejercicio.

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Project

Subvención de intereses

Amount Granted

169.583,00

Notes

Imputado a resultados.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación

Status

CONCEDIDA

Amount Granted

22.509,00

Notes

Imputado a resultados.

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

120.706,00

Notes

Dicho importe corresponde al traspasado a resultados del ejercicio, quedando a fecha de cierre pendiente de imputar 221.809,00 euros.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

117.505,00

Research Summary

Big size company engaged in development of engineering projects. Being a part of the japanese group Azbil since 2013, has been operating for years with no icedence registered.

Sources

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.39
UK Pound	1	Rs.102.59
Euro	1	Rs.74.90

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	TPT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Enquiry Details

Identification

Branch Offices

Activity

Chronological Summary

Main Historic Changes

Breakdown of Owners' Equity

Updated Evolution of the Subscribed and Paid-in Capital

Active Social Bodies

Historical Social Bodies

Defaults, Legal Claims and Insolvency Proceedings

Probability of default

Recommended commercial credit

LEGAL CLAIMS

Link List

Turnover

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

COMPARATIVE SECTORIAL BALANCE

Public Tenders and Works Won

Detail of Subsidies appearing in Balances Memories

Research Summary

Sources

Unit