MIRA INFORM REPORT

 

 

Report No. :

501070

Report Date :

02.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ALELUIA-CERAMICAS SA

 

 

Registered Office :

Quinta Do Simão, 3800-042-Aveiro, Aveiro

 

 

Country :

Portugal

 

 

Financials (as on) :

2016

 

 

Date of Incorporation :

07.11.1977

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Manufacture of tiles, mosaics and ceramic plates

·         Retail sale of DIY equipment, sanitary equipment, tiles and similar materials in specialized

 

 

No. of Employees :

319

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow & Delayed

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Portugal

B1

B1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

PORTUGAL - ECONOMIC OVERVIEW

 

Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the following two decades, successive governments privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country joined the Economic and Monetary Union in 1999 and began circulating the euro on 1 January 2002 along with 11 other EU members.

 

The economy grew by more than the EU average for much of the 1990s, but the rate of growth slowed in 2001-08. After the global financial crisis in 2008, Portugal’s economy contracted in 2009 and fell into recession from 2011 to 2013, as the government implemented spending cuts and tax increases to comply with conditions of an EU-IMF financial rescue package, signed in May 2011. Portugal successfully exited its EU-IMF program in May 2014, and its economic recovery gained traction in 2015 because of strong exports and a rebound in private consumption. GDP growth accelerated in 2016, and probably reached 2.5 % in 2017. Unemployment remained high, at 9.7% in 2017, but has improved steadily since peaking at 18% in 2013.

 

The center-left minority Socialist government has unwound some unpopular austerity measures while managing to remain within most EU fiscal targets. The budget deficit fell from 11.2% of GDP in 2010 to 1.8% in 2017, the country’s lowest since democracy was restored in 1974, and surpassing the EU and IMF projections of 3%. Portugal exited the EU’s excessive deficit procedure in mid-2017.

 

Source : CIA

 

 

Company name

 

ALELUIA-CERAMICAS SA

 

 

Financial highlights

 

 

2014

 

2015

2016

Net Sales

30.736.378,94

23.587.431,53

22.220.960,66

Net Income for the Year

(3.470,11)

(7.140.956,25)

(27.967.227,18)

Shareholders

7.731,22

(7.133.225,03)

(27.439.552,21)

Stocks

20.135.998,17

16.538.650,42

15.273.463,45

Liability

86.804.775,22

87.094.496,17

82.015.023,09

Assets

86.812.506,44

79.961.271,14

54.575.470,88

 

 

Summary

 

Legal Form

Joint Stock Company

Constitution

07-11-1977

V.A.T. Number / NIF

500721831

Employees

319

Capital

7.660.900,00

Sales in : 31-12-2016

22.220.960,66

Shareholders Funds in: 31-12-2016

(27.439.552,21)

Actual Condition

In special process of revitalization

Import/Export

Sim / Sim

 

 

TAX SITUATION

On this date the subject is Not registered in the debtors list of the tax authorities

 

CONTRIBUTIVE SITUATION (SOCIAL SECURITY)

At present date, the company is not in Social Security debt list

 

INSOLVENCIES / REVITALIZATION PROCESSES

YES

 

SUMMARY OF CLAIMS (LAST 5 YEARS)

 

YEAR

QUANTITY

TOTAL

 

 

€

 

2014

1

837.021,86

2013

2

41.266,62

Total

3

878.288,48

 

 

IDENTIFICATION

 

Name

ALELUIA-CERAMICAS SA

Trust Nº.

125815

V.A.T. Number / NIF

500721831

Address

Quinta Do Simão

Postal Code

3800-042-Aveiro

Municipality

Aveiro

District

Aveiro

Country

Portugal

Telephone

234305600

Fax

234305699

E-Mail

geral@aleluia.pt

Web Site

www.aleluia.pt

CAE Main

23312- Manufacture of tiles, mosaics and ceramic plates

CAE Secondary

23311- Manufacture of tiles

CAE Secondary

47523- Retail sale of DIY equipment, sanitary equipment, tiles and similar materials in specialized

 

 

Governing bodies

 

BOARD OF DIRECTORS

 

RODOLFO ABRANTES VIEIRA DA SILVA

Board of Director's President

ANTONIO GERALDO DO BEM FERNANDES DE SOUSA LAMAS

Board of Director's Member

CARLA SOFIA DA CONCEICAO GODINHO

Board of Director's Member

LUIS MANUEL TOMAS ASCENSO

Board of Director's Member

 

FISCAL BOARD

 

ARMINDO COSTA, SERRA CRUZ, MARTINS E ASSOCIADOS SROC

Unique Fiscal

ARMINDO FERNANDES DA COSTA

Fiscal Board Substitute

 

 

Legal structure

 

Registered on the Register Record Office of Aveiro with the Register Number 500721831 previous number 138 in 30-12-2005

Constitution celebrated in 07-11-1977 published on Diário da República number 289 of 16-12-1977

To oblige the company it is necessary 2 signature

 

CHANGES TO SOCIETY

 

In 14-11-2017 on Portal MJ of 14-11-2017 social change

In 06-07-2017 on Portal MJ of 06-07-2017 annual financial statements

In 01-06-2017 on Portal MJ of 01-06-2017 social change

In 22-09-2016 on Portal MJ of 22-09-2016 increase and reduction of shared capital

In 20-07-2016 on Portal MJ of 20-07-2016 appointment of board of directors

In 19-07-2016 on Portal MJ of 19-07-2016 annual financial statements

In 08-01-2016 on Portal MJ of 08-01-2016 board of director's change

In 16-07-2015 on Portal MJ of 16-07-2015 annual financial statements

In 23-02-2015 on Portal MJ of 23-02-2015 board of director's change

In 18-07-2014 on Portal MJ of 18-07-2014 annual financial statements

 

 

Capital

 

The Capital is 7.660.900,00 , divided in 1532180 shares , with a nominal value of 5,00

 

With the following shareholders

 

QUADRANTE CONTEMPORANEO LDA             7.657.835,64     99,96%

 

 

Biographies

 

Name

LUIS MANUEL TOMAS ASCENSO

Funtion

Board of Director's Member

Historical of Professional

Connections and Participations

The subject had links with the following company(ies):

 

 

RECER INVESTIMENTOS SGPS SA como Administrador.

 

LINEFRIENDS-HOSPITALITY INDUSTRY CLUSTER LDA como Gerente.

 

RECER-INDUSTRIA DE REVESTIMENTOS CERAMICOS SA como Vogal do Conselho de Administração.

 

SOLCER-EMPRESA CERAMICA SA como Vogal do Conselho de Administração.

 

 

Name

RODOLFO ABRANTES VIEIRA DA SILVA

Funtion

Board of Director's President

Historical of Professional

Connections and Participations

The subject had links with the following company(ies):

 

 

VIUVA LAMEGO-CERAMICAS DE SINTRA-UNIPESSOAL LDA como Gerente.

 

GOLDCER-INDUSTRIA CERAMICA SA como Vogal do Conselho de Administração.

Name

ANTONIO GERALDO DO BEM FERNANDES DE SOUSA LAMAS

Funtion

Board of Director's Member

 

 

Name

CARLA SOFIA DA CONCEICAO GODINHO

Funtion

Board of Director's Member

 

 

SHAREHOLDERS / PARTNERS COMPANIES

 

Trust Nº.

2396956

NAME

QUADRANTE CONTEMPORANEO LDA

Address

Avenida Eng. Duarte Pacheco, Torre 2, 15º. B

Locality

1070-102 LISBOA

Country

PORTUGAL

Funtion

Shareholder

C.A.E.

70220- Other areas of consultancy for business and management

 

 

Activities

 

Main CAE

23312- Manufacture of tiles, mosaics and ceramic plates

Secundary CAE

23311- Manufacture of tiles

Secundary CAE

47523- Retail sale of DIY equipment, sanitary equipment, tiles and similar materials in specialized

 

Business Description

 

Exploration of the ceramics industry in all its forms, as well as the practice of all commercial and industrial activities related to that object, provision of consultancy services and business management.

 

 

Type of Clients

 

Retailers/Wholesalers/Private Companies

Sales Conditions

Contract

 

 

Geographic distribution of sales

 

INTERNAL MARKET

INTERNATIONAL MARKET

 

 

YEAR

 

 

EU

 

EXTRA-EU

 

TOTAL

2016

6.110.295,61

27,50%

11.688.564,76

52,60%

4.422.100,29

19,90%

22.220.960,66

2015

6.167.094,52

26,15%

12.933.374,16

54,83%

4.486.962,85

19,02%

23.587.431,53

2014

12.835.006,37

41,76%

12.914.926,00

42,02%

4.986.446,57

16,22%

30.736.378,94

2013

20.722.562,40

50,63%

15.290.464,00

37,36%

4.914.156,64

12,01%

40.927.183,04

2012

15.049.753,03

37,24%

20.327.937,00

50,31%

5.030.374,23

12,45%

40.408.064,26

 

 

GEOGRAPHIC DISTRIBUTION OF PURCHASES

 

INTERNAL MARKET

INTERNATIONAL MARKET

 

YEAR

 

 

EU

 

EXTRA-EU

 

TOTAL

2016

13.706.170,50

88,25%

1.634.565,45

10,52%

189.789,96

1,22%

15.530.525,91

2015

11.819.100,05

84,15%

2.143.779,57

15,26%

82.051,75

0,58%

14.044.931,37

2014

17.324.942,42

92,65%

1.374.641,18

7,35%

0,00

0,00%

18.699.583,60

2013

21.770.744,57

92,69%

1.717.639,59

7,31%

0,00

0,00%

23.488.384,16

2012

24.811.911,06

93,10%

1.839.960,30

6,90%

0,00

0,00%

26.651.871,36

 

 

TRADE MARKS

 

·         Ceramic

·         Apolo

 

 

BANKS AND FINANCIAL INSTITUTIONS

 

NOVO BANCO, SA

Aveiro

CAIXA GERAL DE DEPOSITOS, SA

Aveiro

BANCO BPI, SA

Aveiro

MILLENNIUM BCP

Aveiro

 

 

Incidents

 

INSOLVENCIES / REVITALIZATION PROCESSES

YES

 

TAX SITUATION

On this date the subject is Not registered in the debtors list of the tax authorities

 

CONTRIBUTIVE SITUATION (SOCIAL SECURITY)

 

SUMMARY OF CLAIMS (LAST 5 YEARS)

 

YEAR

QUANTITY

TOTAL

 

 

€

 

2014

1

837.021,86

2013

2

41.266,62

Total

3

878.288,48

 

PER - PROCESSO ESPECIAL REVITALIZAÇÃO

 

Date

Process

Espécie

Citius

Tribunal

Credit Claiming

24-10-2016

3231/16.8T8AVR

Special Process of Revitalization

26-10-2016

Aveiro - Trib. Jud. Com. de Aveiro

20 dias a contar da data do

Judicial Admin.

Amadeu José Maia Monteiro de Magalhães | Rua de Santa Rita, 333, Vila Meã, Amarante, 4605-359 Amarante

Observations: Citius 21-02-2017 Homologação do Acordo (PER)

 

LEGAL ACTIONS

 

Date                             19-05-2014

Process                        1731/14.3YYPRT

Author                          Ragalmar Empreendimentos Imobiliarios Sa

Type                             Summary Execution

Amount                        837.021,86

Judicial District            Porto - Juízos de Execução

 

Date                             23-12-2013

Process                        3815/13.6T2OVR

Author                          Expandindústria, Sa

Type                             Common Execution

Amount                        39.038,90

Judicial District            Comarca do Baixo Vouga-Juízos de Ovar

 

 

Employees

 

YEAR

 

TOTAL

MEN

 

WOMEN

 

2016

319

190

60%

129

40%

2015

328

196

60%

132

40%

2014

336

202

60%

134

40%

2013

366

219

60%

147

40%

2012

412

240

58%

172

42%

 

Insurance

 

Mapfre Seguros Generales

 

 

HEAD OFFICE AND INSTALLATIONS

 

Branch Rua Sousa Lopes, Lote MNO - Loja 2, 1600-207, LISBOA, Tel:217965087, Fax:217971435, Email: aleluialisboa@aleluia.pt.

Has head office QUINTA DO SIMÃO, 3800-042, AVEIRO

 

 

Participations

 

DIRECT PARTICIPATIONS

 

NAME

MEMOFUSION LDA

Trust Nº.

2414135

Address

Zona Industrial da Mota - Gafanha da Encarnação

Locality

3830-527 GAFANHA DA ENCARNACAO

Country

PORTUGAL

C.A.E.

23312- Manufacture of tiles, mosaics and ceramic plates

Capital

5,00

Participation

40%

 

 

NAME

CERAMIC ANGOLA LDA

Trust Nº.

2302735

Country

ANGOLA

Participation

99,00%

 

 

NAME

EURL ALELUIA CERAMICAS FRANCE

Trust Nº.

2302253

Country

FRANÇA

Participation

100%

 

 

NAME

CENTRO TECNOLOGICO DA CERAMICA E DO VIDRO(CTCV)

Trust Nº.

184691

Address

R CORONEL JULIO VEIGA SIMÃO

Locality

3025-307 COIMBRA

Country

PORTUGAL

Telephone

239499200

Fax

239835010

E-Mail

centro@ctcv.pt

Web Site

www.ctcv.pt

C.A.E.

71200- Technical testing and analysis techniques

Capital

0,00

Participation

0,68%

 

 

NAME

COOPERATIVA AGRICOLA DE SINTRA CRL

Trust Nº.

71873

Address

R DO ALECRIM

Locality

2710-348 SINTRA

Country

PORTUGAL

Telephone

219105800

Fax

219105805

E-Mail

coopsintra@mail.telepac.pt

Web Site

coopagricolasintra.cidadevirtual.pt

C.A.E.

47784- Retail sale of other new products in specialized n.d

Capital

5.000,00

Participation

0,01%

 

 

Special information

 

Event                           General Description

Merge                           Em 30 de Dezembro de 2005, fusão por incorporação mediante a transferência global do

património da firma Aleluia Cerâmica-Comércio e Indústria SA, com consequente alteração da denominação social de Ceramicapolo-Indústria Cerâmica SA, para Aleluia Cerâmicas SA.

Merge                           Em 31 de Outubro de 2007, fusão por incorporação mediante a transferência global do

património da firma Keratec-Industrias Cerâmicas SA, para a titular.

Quality Certification       A titular é uma empresa certificada pelas normas NP EN ISO 14001:2004 e NP EN ISO

9001:2008.

 

 

FINANCIAL DEMONSTRATION SNC

 

BALANCE SHEET SNC

 

COINEUROS

 

 

 

YEAR:2016

 

2016

2015

2014

% VAR.2016/15

ASSET

 

 

 

 

NON-CURRENT ASSETS

 

 

 

 

Tangible fixed assets

25.370.630,06

26.576.466,11

28.438.461,24

(4,54)%

Investment properties

-

-

-

-

Goodwill

7.396.718,79

8.218.576,35

8.218.576,35

(10,00)%

Intangible assets

1.191.897,60

3.496.695,28

3.551.492,68

(65,91)%

Biological assets

-

-

-

-

Financial participations - patrimonial equity method

500,00

-

-

-

Financial participations - other methods

-

-

-

-

Shareholders/partners

-

-

-

-

Other financial assets

77.023,78

74.606,58

78.232,86

3,24%

Deferred tax assets

-

-

-

-

Financial investments(exclusive use by small entities and micro entities)

-

-

-

-

Total

34.036.770,23

38.366.344,32

40.286.763,13

(11,28)%

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

 

Inventories

15.273.463,45

16.538.650,42

20.135.998,17

(7,65)%

Biological assets

-

-

-

-

Costumers

3.727.917,08

4.268.804,39

5.654.200,63

(12,67)%

Advances to suppliers

-

-

-

-

State and other public entities

442.883,95

623.718,04

127.520,72

(28,99)%

Shareholders/partners

-

-

390.772,88

-

Other accounts receivable

324.660,80

19.496.286,02

19.530.660,89

(98,33)%

Deferrals

126.998,35

142.639,98

291.331,38

(10,97)%

Financial assets held for trading

-

-

-

-

Other financial assets

-

-

-

-

Non-current assets held for sale

81.000,00

81.000,00

81.000,00

-

Other current assets

-

-

-

-

Cashier and bank deposits

561.777,02

443.827,97

314.258,64

26,58%

Total

20.538.700,65

41.594.926,82

46.525.743,31

(50,62)%

TOTAL ASSET

54.575.470,88

79.961.271,14

86.812.506,44

(31,75)%

 

 

SHAREHOLDER FUNDS AND LIABILITIES

 

SHAREHOLDERS FUNDS

 

 

 

 

 

Capital

7.660.900,00

23.453.820,00

23.453.820,00

(67,34)%

Own shares

-

-

-

-

Other shareholders funds instruments

22.769.497,28

22.769.497,28

22.769.497,28

-

Emission premiuns

-

-

-

-

Legal reserves

193.718,68

193.718,68

193.718,68

-

Other reserves

-

-

-

-

Net retained

(32.859.602,66)

(49.483.712,86)

(49.480.242,75)

(33,60)%

Adjustments on financial assets

-

-

-

-

Revaluation surplus

2.763.161,67

3.074.408,12

3.074.408,12

(10,12)%

Other shareholders funds changes

-

-

-

-

Total

527.674,97

7.731,22

11.201,33

6.725,25%

Net income for the period

(27.967.227,18)

(7.140.956,25)

(3.470,11)

291,65%

Antecipated dividends

-

-

-

-

TOTAL OF SHAREHOLDERS FUNDS

(27.439.552,21)

(7.133.225,03)

7.731,22

284,67%

LIABILITY

 

 

 

 

NON-CURRENT LIIABILITIES

 

 

 

 

Provisions

1.898.573,97

700.000,00

-

171,22%

Financing obtained

52.031.569,65

56.501.425,42

60.292.885,80

(7,91)%

Responsability for post-employment beneficts

179.612,07

199.912,46

220.529,07

(10,15)%

Diferred taxes liabilities

-

-

-

-

Other payable accounts

-

6.700.000,00

6.700.000,00

-

Total

54.109.755,69

64.101.337,88

67.213.414,87

(15,59)%

CURRENT LIABILITIES

 

 

 

 

Suppliers

7.077.052,52

8.087.379,58

9.914.101,96

(12,49)%

Advances from costumers

95.298,94

271.531,29

46.710,50

(64,90)%

State and other public entities

748.799,35

950.207,37

817.369,03

(21,20)%

Shareholders/partners

-

-

-

-

Financing obtained

11.266.251,50

6.899.609,24

3.551.235,39

63,29%

Other payable accounts

8.688.454,12

6.736.612,98

5.198.542,39

28,97%

Deferrals

29.410,97

47.817,83

63.401,08

(38,49)%

Financial liabilities held for trading

-

-

-

-

Other financial liabilities

-

-

-

-

Non-current liabilities held for sale

-

-

-

-

Other current liabilities

-

-

-

-

Total

27.905.267,40

22.993.158,29

19.591.360,35

21,36%

TOTAL LIABILITIES

82.015.023,09

87.094.496,17

86.804.775,22

(5,83)%

TOTAL SHAREHOLDERS FUNDS AND LIABILITIES

54.575.470,88

79.961.271,14

86.812.506,44

(31,75)%

 

 

Income statement

 

INCOME STATEMENT

 

 

 

 

INCOME AND EXPENSES

 

 

 

 

Sales and services

22.220.960,66

23.587.431,53

30.736.378,94

(5,79)%

Operating government grants

-

35.520,17

35.735,42

-

Gains/losses allocated subsidiaries, associates and joint ventures

-

-

-

-

Variation in production inventories

841.460,27

(2.982.380,94)

(920.181,91)

(128,21)%

Work for the entity itself

-

-

-

-

Cost of goods sold and materials consumed

9.869.940,68

8.890.770,91

12.347.084,00

11,01%

Suppliers and external services

5.768.104,06

5.608.779,59

6.791.429,06

2,84%

Personnel costs

5.817.806,07

6.021.505,47

6.069.036,23

(3,38)%

Impairment of inventories (losses/revearsals)

1.902.535,87

53.812,71

-

3.435,48%

Impairment of receivables (losses/revearsals)

21.201,68

1.107.164,00

(72.386,08)

(98,09)%

Provisions (increases/reductions)

1.198.573,97

700.000,00

-

71,22%

Impairment of investments not depreciable/amortizable (losses/reversals)

-

-

-

-

Other impairments (losses/reversals)/impairments (losses/reversals) (exclusive use by small entities and microentities)

-

-

-

-

Increases/decreases in fair value

-

-

-

-

Other income and gains

231.576,95

310.439,44

832.631,86

(25,40)%

Other expenses and losses

19.844.861,82

1.447.533,48

1.108.377,89

1.270,94%

Result before depreciation, financing costs and taxes

(21.129.026,27)

(2.878.555,96)

4.441.023,21

634,01%

Expenses/reversals of depreciation and amortization

2.695.837,29

1.973.403,08

2.014.515,49

36,61%

Impairment of investments depreciable/amortizable (losses/reversals)

2.250.000,28

-

-

-

Operating result (before financing costs and taxes)

(26.074.863,84)

(4.851.959,04)

2.426.507,72

437,41%

Interest and similar income obtained

1.018,89

1.604,65

1.641,53

(36,50)%

interest and similar expenses incurred

1.823.190,79

2.220.019,31

2.343.245,49

(17,88)%

Net before taxes

(27.897.035,74)

(7.070.373,70)

84.903,76

294,56%

Income tax of the period

70.191,44

70.582,55

88.373,87

(0,55)%

Net profit for the period

(27.967.227,18)

(7.140.956,25)

(3.470,11)

291,65%

Results of discontinued operations (net of taxes) included in the net income of the

-

-

-

-

 

 

Ratios snc

 

YEAR

2016

2015

2014

Shareholder's Funds Profitability (Net Income / Shareholders Funds) (%)

101,92

100,11

(44,88)

Return on Assets (Operating Result / Total Asset)(%)

(47,78)

(6,07)

2,80

Sales Net Profitability (Net Income / Sales) (%)

(125,86)

(30,27)

(0,01)

EFFICIENCY RATIOS

 

 

 

Medium Term Receivable (Costumers / Sales) * 365 (d)

61,23

66,06

67,14

Medium Term Payable (Suppliers / Purchases + Suppliers and external services)*365 (d)

166,33

210,17

193,51

Asset Rotation (Sales / Toral Asset) (%)

40,72

29,50

35,41

PRODUCTIVITY RATIOS

 

 

 

Gross Added Value / Employee (#)

(38209,75)

15.255,87

31.064,50

Sales / Employee (#)

69.658,18

71.912,90

91.477,32

Productivity (Gross Added Value / Personnel costs) (#)

(2,1)

0,83

1,72

SHORT TERM RATIOS

 

 

 

General Liquidity (Current Assets / Current Liabilities) (#)

0,74

1,81

2,37

Reduced Liquidity (Current Assets - Inventories / Current Liabilities) (#)

0,19

1,09

1,35

Immediate Liquidity (Cashier and bank deposits / Current Liabilities) (#)

0,02

0,02

0,02

MEDIUM LONG TERM RATIOS

 

 

 

Financial Autonomy (Shareholders Funds / Total Asset) (%)

(50,28)

(8,92)

0,01

Solvability(Shareholders Funds / Total Liabilities) (%)

(33,46)

(8,19)

0,01

Debt Structure (Current Liabilities / Total Liabilities) (%)

34,02

26,40

22,57

General Debt (Total Liabilities / Total Asset) (%)

150,28

108,92

99,99

Debt Capacity (Shareholders Funds / Shareholders Funds + Non Current Liabilities)(%)

(102,88)

(12,52)

0,01

Capital Structure (Shareholder's Funds / Non Current Liabilities) (%)

(50,71)

(11,13)

0,01

OPERATIONAL AND FINANCIAL RISK

 

 

 

Operational Leverage Level (OLL) (Gross Margin / Operating Result) (#)

(0,47)

(3,03)

7,58

Financial Leverage Level (FLL) (Gross Operating Profit / Operating Result) (#)

0,93

0,69

28,58

Combined Leverage Level (OLL x FLL) (#)

(0,44)

(2,08)

216,61

 

 

CASH FLOW STATEMENT

 

 

 

 

RUBRICS

2016

2015

PERIODS

CASH FLOWS FROM OPERATIONAL ACTIVITIES

 

 

 

Customers receipts

23.950.297,47

24.894.769,25

(3,79)%

Payments to suppliers

18.899.956,34

18.545.785,46

1,91%

Payments to employees

5.903.093,37

5.697.495,03

3,61%

Cash at bank generated from operations

(852.752,24)

651.488,76

(230,89)%

Payment/receipt of income tax

(322.206,65)

(326.938,02)

1,45%

Other receipts/payments

2.088.641,23

732.029,97

185,32%

Cash Flows from Operational Activities (A)

913.682,34

1.056.580,71

(13,52)%

CASH FLOWS' INVESTMENT ACTIVITIES

 

 

 

Payments regarding:

 

 

 

Fixed tangible assets

241.600,40

82.552,95

192,66%

Intangible assets

-

-

-

Financial investments

500,00

-

-

Other assets

-

-

-

Receipts from:

 

 

 

Fixed tangible assets

-

-

-

Intangible assets

-

-

-

Financial investments

-

-

-

Other assets

-

-

-

Investment subsidies

-

-

-

Interest and similar income

-

-

-

Dividends

-

-

-

Cash Flows' Investments Activities (B)

(242.100,40)

(82.552,95)

(193,27)%

 

 

 

 

CASH FLOWS' INVESTMENT ACTIVITIES

 

 

 

Receipts from:

 

 

 

Obtained financing

-

-

-

Paying-up of capital and other equity instruments

3.000,00

-

-

Coverage of losses

-

-

-

Donations

-

-

-

Other financing operations

3.195.200,48

3.664.726,61

(12,81)%

Payments regarding:

 

 

 

Obtained financing

-

75.000,00

-

Interests and similar expenses

454.657,78

634.528,56

(28,35)%

Dividends

-

-

-

Capital's redution and other equity instruments

-

-

-

Other financing operations

3.297.175,59

3.799.656,48

(13,22)%

Cash Flows' Financing Activities ©

(553.632,89)

(844.458,43)

34,44%

Variation in cash at bank and its equivalents (A+B+C)

117.949,05

129.569,33

(8,97)%

Effect of exchange differences

-

-

-

Cash at bank and its equivalents at the start of period

443.827,97

314.258,64

41,23%

Cash at bank and its equivalents at the end of period

561.777,02

443.827,97

26,58%

 

 

Cash flows

 

MOVIMENTOS DO PERIODO DE 2016

 

RUBRICS

INITIAL BALANCE

DEBITS

CREDITS

FINAL BALANCE

PERIOD'S CARRYING AMOUNT AND MOVEMENTS

 

 

 

 

Cash in hand

8.708,26

11.387.216,01

11.388.627,01

7.297,26

Order deposits

435.119,71

27.229.877,47

27.110.517,42

554.479,76

Other bank deposits

-

-

-

0,00

Total cash at bank and bank deposits

443.827,97

38.617.093,48

38.499.144,43

561.777,02

Of which: Bank deposits abroad

-

-

-

0,00

 

 

RUBRICS

VALUE

OTHER INFORMATION

 

Receipts from:

 

Non-life insurance claims

0,00

Operating subsidies

0,00

Cash at bank and its equivalents not available for use

0,00

 

 

Assets impairment

 

MOVIMENTOS DO PERIODO DE 2016

 

IMPAIRMENT LOSSES

 

IMPAIRMENT LOSSES REVERSALS

RUBRICS

RECOGNIZED IN PROFIT AND LOSS

ON REVALUED ASSETS RECOGNIZED IN EQUITY

TOTAL

RECOGNIZED IN PROFIT AND LOSS

RECOGNIZED IN EQUITY

TOTAL

Individual assets

 

 

 

 

 

 

Fixed tangible assets

0,00

-

-

0,00

-

-

Goodwill

-

-

-

0,00

-

-

Intangible assets

0,00

-

-

2.250.000,28

-

2.250.000,28

Investment properties (cost model)

0,00

-

-

0,00

-

-

Investments in progress

0,00

-

-

0,00

-

-

Financial investments

0,00

-

-

0,00

-

-

TOTAL

0,00

0,00

0,00

2.250.000,28

0,00

2.250.000,28

of which: cash-generating units

0,00

-

-

0,00

-

-

 

GOVERNMENT GRANTS AND GOVERNMENT ASSISTANCE

 

 

GRANTS FROM STATE AND OTHER

PUBLIC BODIES

GRANTS FROM OTHER ENTITIES

RUBRICS

VALUE ASSIGNED IN THE PERIOD OR

IN PREVIOUS

PERIOD

VALUE ATTRIBUTED

TO THE PERIOD

VALUE ASSIGNED IN THE PERIOD OR

IN PREVIOUS

PERIODS

VALUE

ATTRIBUTED TO

THE PERIOD

Grants related to assets/investment:

-

0,00

-

0,00

Fixed tangible assets

-

0,00

-

0,00

Land and Natural Resources

-

-

-

-

Buildings and other structures

-

-

-

-

Basic equipment

-

0,00

-

-

Transport equipment

-

-

-

-

Office equipment

-

-

-

-

Biological equipment

-

-

-

-

Others

-

-

-

-

Intangible assets

-

0,00

-

0,00

Development projects

-

-

-

-

Computer programmes

-

-

-

-

Industrial property

-

-

-

-

Others

-

-

-

-

Other assets

-

-

-

-

Grants related to income / operating

-

0,00

-

0,00

Value of repayments in the period:

-

0,00

-

0,00

Grants related to assets/investment

-

-

-

-

Grants related to income / operating

-

-

-

-

TOTAL

-

0,00

-

0,00

 

 

IMPAIRMENT LOSSES IN FINANCIAL ASSETS AT COST OR AT AMORTIZED COST              

 

 

MOVIMENTOS DO PERIODO DE 2016

RUBRICS

IMPAIRMENT LOSSES

IMPAIRMENT LOSSES

REVERSALS

TOTAL

 

Receivable debts from customers

66.694,89

45.493,21

21.201,68

 

Other receivables

-

-

0,00

 

Equity instruments and other securities

-

-

0,00

 

Others

-

-

0,00

 

TOTAL

66.694,89

45.493,21

21.201,68

 

 

 

DEBTS REGISTERED AS DOUBTFUL

 

RUBRICS

 

VALUE

Regarding insolvency and company recovery procedures or enforcement procedures

-

Claimed in court

-

In arrears:

0,00

Over six months and up to twelve months

-

Over twelve months and up to eighteen months

-

Over eighteen months and up to twenty four months

-

Over twenty four months

-

TOTAL

0,00

 

 

EMPLOYEE BENEFITS, COMPANY EMPLOYEES AND PERSONNEL COSTS

 

RUBRICS

AVERAGE NUMBER OF EMPLOYEES

AVERAGE NUMBER OF HOURS WORKED

Company employees, paid and unpaid

319

592.390

Paid company employees

319

592.390

Company UNPAID employees

0

0

Company employees, by type of working hours

 

 

Full time company employees

319

592.390

Of which: Full time company employees

319

592.390

Part time company employees

0

0

Of which: Part time company employees

0

0

Company employees, by gender:

 

 

Men

190

352.810

Women

129

239.580

Company employees, of which:

 

 

Company employees assigned to Research and Development

4

-

Service providers

5

672

People placed through temporary employment agencies

1

-

 

 

STAFF COSTS

                       

RUBRICS

VALUE

Staff costs

5.817.806,07

Governance Bodies Remuneration

123.541,23

Of which: Profit-sharing

0,00

Employees remuneration

4.202.302,34

Of which: Profit-sharing

0,00

Post-employment benefits

0,00

Pension premiums

0,00

Other benefits

-

Of which:

 

For defined contribution plans - corporate bodies

-

For defined contribution plans - others

-

Compensations

73.006,11

Charges on remunerations

1.016.322,98

Insurance for accidents at work and professional diseases

68.948,57

Social security expenses

6.348,85

Other staff costs

327.335,99

Of which:

 

Expenditure on education

4.154,48

Expenditure on uniforms

-

 

 

Information by geographic markets

 

 

 

GEOGRAPHIC MARKETS

 

RUBRICS

INTERNAL

 

EU

EXTRA-EU

TOTAL

Sales

6.110.295,61

11.688.564,76

4.422.100,29

22.220.960,66

Services provided

0,00

0,00

0,00

0,00

Purchases

9.412.709,44

349.712,41

0,00

9.762.421,85

Supplies and external services

4.293.461,06

1.284.853,04

189.789,96

5.768.104,06

Acquisition of fixed tangible assets

132.342,14

500.000,00

0,00

632.342,14

Acquisition of investment properties

-

-

-

0,00

Acquisition of intangible assets

-

-

-

0,00

Supplementary income:

16.809,93

64.208,81

8.551,96

89.570,70

Social services

-

-

-

0,00

Equipment rental

-

-

-

0,00

Studies, projects and technological assistance

-

-

-

0,00

Royalities

-

-

-

0,00

Others

16.809,93

64.208,81

8.551,96

89.570,70

Memorandum: Sales and services provided (undiscounted values)

-

-

-

0,00

Memorandum: Purchases and supplies and external services (undiscounted values)

-

-

-

0,00

 

 

RECEIVABLE AND PAYABLE ACCOUNTS

 

RUBRICS

 

2016

2015

PERIODS

CUSTOMERS

 

 

 

Trade accounts receivable

10.411.295,78

10.958.266,95

(4,99)%

Trade notes receivable

179.847,00

152.561,46

17,88%

Advances received from customers

-

-

-

SUPPLIERS

 

 

 

Trade accounts payable

6.930.651,22

8.001.626,06

(13,38)%

Trade notes payable

98.666,64

19.277,77

411,82%

Trade accounts payable - unchecked invoices

47.734,66

66.475,75

(28,19)%

Advances to suppliers

-

-

-

STAFF

 

 

 

Payable remunerations

0,00

0,00

-

Advanced payments

-

-

-

Bonds

-

-

-

Other operations

-

-

-

STATE AND OTHER PUBLIC SECTOR INSTITUTIONS

 

 

 

Income Tax

(83.699,80)

116.142,79

(172,07)%

Deductible IVA (debt cumulative amounts)

3.713.118,55

2.936.114,68

26,46%

Paid IVA (credit cumulative amounts)

1.671.679,45

1.642.603,15

1,77%

SHAREHOLDERS / PARTNERS

 

 

 

Shareholders with subscription

-

-

-

Unreleased quotas

-

-

-

Advances for profits

-

-

-

ALLOCATED RESULTS

 

 

 

From the perspective of the entity distributing profits

-

-

-

From the perspective of the entity with allocated profits

-

-

-

AVAILABLE PROFITS

 

 

 

From the perspective of the entity distributing profits

-

-

-

From the perspective of the entity with allocated profits

-

-

-

Granted loans - parent company

-

-

-

Granted loans - subsidiary companies, associated companies and joint ventures

-

-

-

Granted loans - other shareholders/partners

-

-

-

Of which: Participating companies

-

-

-

OTHER OPERATIONS

 

 

 

Debit status

-

-

-

Credit status

-

-

-

OTHER RECEIVABLE AND PAYABLE ACCOUNTS

 

 

 

Investment providers - general accounts

-

-

-

Trade accounts payable - unchecked invoices

-

-

-

Advanced payments to investment providers

-

-

-

additional income - Debtors

0,00

19.180.000,24

(100,00)%

additional expenses - Creditors

7.939.467,61

6.203.936,42

27,97%

Deferred tax assets

-

-

-

Deferred tax liabilities

-

-

-

Unreleased subscriptions - Creditors

-

-

-

Advances received on account of sales

95.298,94

271.531,29

(64,90)%

OTHER DEBTORS AND CREDITORS

 

 

 

Other debtors

324.660,80

316.285,78

2,65%

Other creditors

266.671,68

324.508,75

(17,82)%

 

 

Expense accounts

 

RUBRICS

2016

2015

PERIODS

Supplies and external services

5.768.104,06

5.608.779,59

2,84%

Subcontracts

422.203,32

390.067,60

8,24%

Specialized services

2.071.293,01

2.214.163,56

(6,45)%

Specialized works

203.958,91

231.766,51

(12,00)%

Of which: Payments to workers placed through agencies

37.128,27

29.572,89

25,55%

Advertising and promotion

541.705,01

622.849,53

(13,03)%

Surveillance and security

3.677,50

8.861,00

(58,50)%

Fees

99.999,98

84.067,66

18,95%

Comissions

936.143,94

981.740,61

(4,64)%

Maintenance and repairs

201.779,63

183.714,43

9,83%

Others

84.028,04

101.163,82

(16,94)%

Materials

718.232,95

498.716,50

44,02%

Fast wear tools and utensils

17.892,36

9.453,95

89,26%

Books and technical documentation

391,12

89,62

336,42%

Office material

25.097,07

17.133,43

46,48%

Gift items

383,01

366,92

4,39%

Others

674.469,39

471.672,58

43,00%

Energy and fluids

1.165.621,03

1.035.696,97

12,54%

Electricity

1.099.499,52

959.292,43

14,62%

Fuels

52.960,54

61.439,21

(13,80)%

Water

13.140,24

14.899,29

(11,81)%

Others

20,73

66,04

(68,61)%

Travel, lodging and transportation

667.689,32

567.587,00

17,64%

Travel and lodging

138.143,35

137.432,90

0,52%

Transport of personnel

0,00

0,00

-

Transport of goods

524.909,18

416.650,38

25,98%

Others

4.636,79

13.503,72

(65,66)%

Different services

723.064,43

902.547,96

(19,89)%

Rents and leases

309.854,48

496.355,92

(37,57)%

Of which: Rents from land

-

-

-

Communication

65.153,22

65.835,01

(1,04)%

Insurance

193.830,59

226.232,86

(14,32)%

Royalties

0,00

0,00

-

Litigation and Notaries

4.080,23

6.382,26

(36,07)%

Representation expenses

63.795,18

46.957,18

35,86%

Cleaning, hygiene and comfort

1.998,03

966,69

106,69%

Other services

84.352,70

59.818,04

41,02%

 

 

DELIBERATION OF APPROVAL OF ACCOUNTS

 

Were the financial year's accounts approved?

YES

 

Data da Aprovação: 29-05-2017

By (Unanimity/Majority):

Unanimity

 

Percentage of issued votes related to the share capital subscribed with voting right

100

 

The accounts were approved:

In universal meeting

Through deliberation by writing vote

 

The accounts were approved:

In POC/SNC/NCM (National Plan of Accounts/Accounting Normalization System/Accounting Normalization for micro entities)

 

 

PROFIT APLICATION ACCORDING TO THE DELIBERATION THAT APPROVED THE FINANCIAL YEAR'S ACCOUNTS

 

RUBRICS

 

2016

2015

Retained earnings

(60.826.829,84)

(56.624.669,11)

Allocated results / Available profits

0,00

0,00

Percentages or bonuses to managing bodies

-

-

Ditto to staff

-

-

Reserves

-

-

Coverage of losses

-

-

7. Others

-

-

BALANCE (1-2-3-4-5-6-7)

(60.826.829,84)

(56.624.669,11)

 

 

MANAGEMENT REPORT / ASSESSMENT OF THE INSPECTION BODY / LEGAL CERTIFICATION OF ACCOUNTS

 

MANAGEMENT REPORT

Were the Management Report and financial year's accounts prepared?

YES

 

Were the management report and the financial year's accounts signed by all members of the management / administration?

YES

 

ASSESSMENT OF THE INSPECTION BODY

The entity has an inspection body?

YES

 

Has the inspection body issued an assessment?

YES

 

The inspection body pronounced:

In favour of the approval of accounts

 

LEGAL CERTIFICATION OF ACCOUNTS (CLC)

Is the entity required to have certified accounts by a Statutory Auditor/Statutory Audit Firm?

YES

 

Identificação do ROC: 502154870

Was the Legal certification of accounts issued?

YES

With reserves

With emphasis

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

Euro

1

INR 80.10

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.