MIRA INFORM REPORT

Report No. :	490292
Report Date :	12.02.2018

IDENTIFICATION DETAILS

Name :	SAMOA INDUSTRIAL SA

Registered Office :	Cno. Del fontan, 831 -Pol. Ind. Porceyo, i-14 - gijon - 33392 - asturias

Country :	Spain

Financials (as on) :	2016

Date of Incorporation :	16.06.1962

Legal Form :	Public Company

Line of Business :	Manufacture of other special-purpose machinery n.e.c.

No. of Employees :	230 (2016)

RATING & COMMENTS

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

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Good

Payment Behaviour :	Regular

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

(30.06.2017)

Current Rating

(30.09.2017)

Spain

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

SPAIN - ECONOMIC OVERVIEW

After experiencing a prolonged recession in the wake of the global financial crisis that began in 2008, in 2017 Spain marked the fourth full year of positive economic growth in ten years, largely due to increased private consumption. At the onset of the 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 that year, 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 for its financial sector.

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 17% in 2017. High unemployment has 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 about 3.3% of GDP in 2017. Public debt has increased substantially – from 60.1% of GDP in 2010 to nearly 96.7% in 2017.

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 through 2016. 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.

Political gridlock after the national elections in December 2015 and June 2016 and ensuing government formation process constrained the caretaker government’s ability to implement needed labor, pension, health care, tax, and education reforms— in 2016. The European Commission criticized Spain’s 2016 budget for easing austerity measures and for its alleged overly optimistic growth and deficit projections. Spain’s borrowing costs are dramatically lower since their peak in mid-2012, and with the recent uptick in economic activity, inflation has reappeared, at 2% per year.

Source : CIA

EXECUTIVE SUMMARY

Name:

SAMOA INDUSTRIAL SA

NIF / Fiscal code:

A33689530

Status:

ACTIVE

Incorporation Date:

16/06/1962

Register Data

Last Publication in BORME:

25/08/2017 [Reelections]

Last Published Account Deposit:

2016

Share Capital:

601.012,10

Localization:

CNO. DEL FONTAN, 831 -POL. IND. PORCEYO, I-14 - GIJON - 33392 - ASTURIAS

Telephone - Fax - Email - Website:

Telephone. 985 381 488 Email. info@samoaindustrial.com Website. www.samoaindustrial.com

Number of Branches

Activity:

NACE:

2899 - Manufacture of other special-purpose machinery n.e.c.

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

2 for a total cost of 85.856,38

Subsidies:

15 for a total cost of 2018346.68

Main products / services:

Bombas eléctricasBombas neumáticasContadores

Quality Certificate:

Payment Behaviour:

Regular

Prospects:

Consolidation

Industry situation:

Maturity

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Defaults on debt with Financial Institutions and Large Companies

None

---

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

None

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

ACCIONES PROPIAS DE SAMOA INDUSTRIAL, S.A.

5 %

Identification

Social Denomination:

SAMOA INDUSTRIAL SA

NIF / Fiscal code:

A33689530

Corporate Status:

ACTIVE

Start of activity:

1967

Registered Office:

CNO. DEL FONTAN, 831 -POL. IND. PORCEYO, I-14

Locality:

GIJON

Province:

ASTURIAS

Postal Code:

33392

Telephone:

985 381 488

Fax:

985 384 163

Website:

www.samoaindustrial.com

Email:

info@samoaindustrial.com

Interviewed Person:

The information in this report has been gathered through indirect sources due to the refusal of the company's responsible people to collaborate.

Branch Offices

Address

Postal Code

City

Province

CALLE JATIVA 55

28007

MADRID

Activity

NACE:

2899

CNAE Obtaining Source:

2899

Corporate Purpose:

Manufacture of equipment for the handle and management of fluids.

Additional Information:

Manufacture of equipment for the handle and management of fluids.

Additional Address:

The Registered Office, offices and premises are located at the heading address.

Franchise:

Import / export:

EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Main products / services

Product

% Over Sales

Bombas eléctricas

Bombas neumáticas

Contadores

Enrolladores

Pistolas

Recuperadores

Aspiradores

Dispensadores

Number of Employees

Year

No. of employees

Established

Incidentals

2016

230

The data of employees is from the latest available financial statements. Failing that, are estimates data calculated by statistical methods

Chronological Summary

Year

Act

1990

Accounts deposit (year 1989) Appointments/ Re-elections (1) Company Transformation (1) Increase of Capital (1) Statutory Modifications (1)

1991

Accounts deposit (year 1990) Appointments/ Re-elections (1)

1992

Accounts deposit (year 1991)

1993

Accounts deposit (year 1992) Adaptation to Law (1) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

1994

Accounts deposit (year 1993)

1995

Accounts deposit (year 1994) Statutory Modifications (1)

1996

Accounts deposit (year 1995) Appointments/ Re-elections (1) Statutory Modifications (1)

1997

Accounts deposit (year 1996) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

1998

Accounts deposit (year 1997) Statutory Modifications (1)

1999

Accounts deposit (year 1998) Appointments/ Re-elections (1)

2000

Accounts deposit (year 1999) Appointments/ Re-elections (1)

2001

Accounts deposit (year 2000) Appointments/ Re-elections (1)

2002

Accounts deposit (year 2001) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1)

2003

Accounts deposit (year 2002) Appointments/ Re-elections (1)

2004

Accounts deposit (year 2003) Appointments/ Re-elections (1)

2005

Accounts deposit (year 2004) Appointments/ Re-elections (2)

2006

Accounts deposit (year 2005) Appointments/ Re-elections (1)

2008

Accounts deposit (year 2006, 2007) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (1)

2009

Accounts deposit (year 2008) Appointments/ Re-elections (6)

2010

Accounts deposit (year 2009) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

2011

Accounts deposit (year 2010) Appointments/ Re-elections (1)

2012

Accounts deposit (year 2011) Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

2013

Accounts deposit (year 2012) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Statutory Modifications (1)

2014

Accounts deposit (year 2013) Appointments/ Re-elections (1)

2015

Accounts deposit (year 2014) Appointments/ Re-elections (1)

2016

Accounts deposit (year 2015) Appointments/ Re-elections (1)

2017

Accounts deposit (year 2016) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (1)

Breakdown of Owners' Equity

Registered Capital:

601.012,10

Paid up capital:

601.012,10

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

12/02/1990

Increase of Capital

450.759

601.012

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

GONZALEZ-MORATIEL ALVAREZ ALBERTO

17/08/2017

VICE CHAIRMAN

ALVAREZ GONZALEZ SOLEDAD

17/08/2017

MEMBER OF THE BOARD

ALVAREZ GONZALEZ SOLEDAD

17/08/2017

GONZALEZ-MORATIEL ALVAREZ MARIA SOLEDAD

17/08/2017

GONZALEZ-MORATIEL ALVAREZ ALBERTO

17/08/2017

COMBINED PROXY

SALA GONZALEZ PAULA

14/05/2012

JOINT ATTORNEY

SALA GONZALEZ PAULA

14/05/2012

PROXY

ARIAS TRAPIELLA JAVIER

09/11/2009

ALVAREZ RUBIO ANGEL

09/11/2009

GARCIA PORRUA ANTONIO

09/11/2009

URIA ECHEBARRIA LUIS

01/09/2005

CHIEF EXECUTIVE OFFICER

GONZALEZ-MORATIEL ALVAREZ ALBERTO

17/08/2017

SECRETARY

GONZALEZ-MORATIEL ALVAREZ MARIA SOLEDAD

17/08/2017

ACCOUNTS' AUDITOR / HOLDER

AUDITAS AUDITORES ASOCIADOS SL

17/08/2017

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ALVAREZ CUERVO JOSE ANTONIO

PROXY

18/05/2010

ALVAREZ GONZALEZ SOLEDAD

MEMBER OF THE BOARD

27/08/1997

MEMBER OF THE BOARD

07/10/2002

MEMBER OF THE BOARD

07/04/2008

MEMBER OF THE BOARD

18/07/2012

MEMBER OF THE BOARD

17/08/2017

VICE CHAIRMAN

07/10/2002

VICE CHAIRMAN

07/04/2008

VICE CHAIRMAN

18/07/2012

VICE CHAIRMAN

17/08/2017

AUDITAS AUDITORES ASOCIADOS SL

ACCOUNTS' AUDITOR / HOLDER

13/10/2006

ACCOUNTS' AUDITOR / HOLDER

07/04/2008

ACCOUNTS' AUDITOR / HOLDER

09/10/2008

ACCOUNTS' AUDITOR / HOLDER

09/10/2009

ACCOUNTS' AUDITOR / HOLDER

06/08/2010

ACCOUNTS' AUDITOR / HOLDER

12/08/2011

ACCOUNTS' AUDITOR / HOLDER

25/07/2012

ACCOUNTS' AUDITOR / HOLDER

21/08/2013

ACCOUNTS' AUDITOR / HOLDER

12/08/2014

ACCOUNTS' AUDITOR / HOLDER

17/09/2015

ACCOUNTS' AUDITOR / HOLDER

22/09/2016

ACCOUNTS' AUDITOR / HOLDER

17/08/2017

CUETO FELGUEROSO GARCIA JAVIER

PROXY

18/05/2010

GONZALEZ MORATIEL ALVAREZ ALBERTO

MEMBER OF THE BOARD

03/02/1993

MEMBER OF THE BOARD

27/08/1997

MEMBER OF THE BOARD

07/10/2002

MEMBER OF THE BOARD

07/04/2008

MEMBER OF THE BOARD

18/07/2012

JOINT CHIEF EXECUTIVE OFFICER

27/08/1997

CHIEF EXECUTIVE OFFICER

03/02/1993

CHIEF EXECUTIVE OFFICER

07/10/2002

CHIEF EXECUTIVE OFFICER

07/04/2008

CHIEF EXECUTIVE OFFICER

18/07/2012

PRESIDENT

07/10/2002

PRESIDENT

07/04/2008

PRESIDENT

18/07/2012

VICE CHAIRMAN

03/02/1993

VICE CHAIRMAN

27/08/1997

GONZALEZ MORATIEL ALVAREZ MARIA SOLEDAD

MEMBER OF THE BOARD

03/02/1993

MEMBER OF THE BOARD

27/08/1997

MEMBER OF THE BOARD

07/10/2002

MEMBER OF THE BOARD

07/04/2008

MEMBER OF THE BOARD

18/07/2012

MEMBER OF THE BOARD

17/08/2017

SECRETARY

03/02/1993

SECRETARY

27/08/1997

SECRETARY

07/10/2002

SECRETARY

07/04/2008

SECRETARY

18/07/2012

GONZALEZ MORATIEL BAJO ALBERTO

MEMBER OF THE BOARD

03/02/1993

MEMBER OF THE BOARD

27/08/1997

JOINT CHIEF EXECUTIVE OFFICER

27/08/1997

CHIEF EXECUTIVE OFFICER

03/02/1993

PRESIDENT

03/02/1993

PRESIDENT

27/08/1997

GONZALEZ-MORATIEL ALVAREZ ALBERTO

MEMBER OF THE BOARD

17/08/2017

CHIEF EXECUTIVE OFFICER

17/08/2017

PRESIDENT

17/08/2017

GONZALEZ-MORATIEL ALVAREZ MARIA SOLEDAD

MEMBER OF THE BOARD

17/08/2017

SECRETARY

17/08/2017

LOPEZ AREAN MANUEL

PROXY

18/05/2010

MENENDEZ RODRIGUEZ MARIA ISABEL

COMBINED PROXY

17/01/2013

NOBLEJAS PERALTA RAMON

PROXY

27/10/2009

PROXY

18/05/2010

PRALLONG ALVAREZ PEDRO ELIAS

PROXY

09/11/2009

PROXY

18/05/2010

PUERTA AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

24/11/2000

ACCOUNTS' AUDITOR / HOLDER

02/11/2001

ACCOUNTS' AUDITOR / HOLDER

07/10/2002

ACCOUNTS' AUDITOR / HOLDER

05/11/2003

ACCOUNTS' AUDITOR / HOLDER

20/09/2004

ACCOUNTS' AUDITOR / HOLDER

11/10/2005

PUERTA CIA AUDITORES SRC

ACCOUNTS' AUDITOR / HOLDER

28/09/1993

ACCOUNTS' AUDITOR / HOLDER

10/09/1999

SUAREZ FERNANDEZ BEATRIZ

COMBINED PROXY

14/05/2012

COMBINED PROXY

17/01/2013

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

Unpublished

---

Notices of defaults and enforcement

---

Seizures

---

Auctions

---

Declarations of insolvency and bad debt

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

> Details

> Basis for scoring

Positive Factors

Adverse Factors

No judicial claims have been detected in the Official Gazettes, regarding any Entity's outstanding debts with the Tax Bureau or Social Security administrations, as submitted by Courts of the various court jurisdictions.

No irregular payment performance has been detected based on information obtained from credit bureaus.

The current debt represents a 14.52of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

SAMOA INDUSTRIAL SA obtains economic profitability from the necessary investments in the development of its activity in comparison with its assets.

High financial profitability. Net return from the company's main activity performed using its own equity is high. This income return has decreased in comparison with the previous financial year.

Probability of default

> Estimated Probability of Default for the next 12 months: 0.386 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

289 Manufacture of other special-purpose machinery

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 99.00% of the companies of the sector SAMOA INDUSTRIAL SA 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 0,386%.

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

Result of query submitted to the R.A.I. (Spanish Bad Debt Register) on

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

Not published

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

Not published

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

Not published

Incidences with the Social Security

Not published

Incidences with the Autonomous Administration

Not published

Incidences with the Local Administration

Not published

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

Not published

Proceedings by the old Civil Procedural Law 1.881

Not published

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Proceedings before the Industrial Tribunal

Not published

Guarantees

References

Link List

IS RELATED WITH:

1 Entities

PARTICIPATES IN:

7 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

ACCIONES PROPIAS DE SAMOA INDUSTRIAL, S.A.

PARTICIPATES IN

SAMOA INTERNACIONAL SA

MADRID

100

LINTER INVESTMENTS SL

MADRID

100

SAMOA, SOCIEDAD ANONIMA, (REINO UNIDO)

100

SAMOA HALLBAUER, SOCIEDAD ANONIMA, (ALEMANIA)

70.07

SAMOA SARL (FRANCIA)

100

SAMSON CORPORATION (ESTADOS UNIDOS)

100

SAMOA ITALIA, S.L.

100

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

SAMOA INTERNACIONAL SA

MADRID

Turnover

Total Sales 2016

39.484.823,48

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

Estimated Balance

2017 ESTIMATED FIGURES: -NON-CURRENT ASSETS 39.517.000 Euro/s -CURRENT ASSETS 44.771.000 Euro/s -NET EQUITY 65.026.000 Euro/s -NON-CURRENT LIABILITIES 7.023.000 Euro/s -CURRENT LIABILITIES 12.239.000 Euro/s -TOTAL ASSETS AND LIABILITIES 84.288.000 Euro/s -SALES 40.400.000 Euro/s

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2016

Normales

September 2017

2015

Normales

September 2016

2014

Normales

August 2015

2013

Normales

September 2014

2012

Normales

August 2013

2011

Normales

November 2012

2010

Normales

July 2011

2009

Normales

August 2010

2008

Normales

August 2009

2007

Normales

September 2008

2006

Normales

April 2008

2005

Normales

August 2006

2004

Normales

October 2005

2003

Normales

August 2004

2002

Normales

August 2003

2001

Normales

August 2002

2000

Normales

August 2001

1999

Normales

August 2000

1998

Normales

August 1999

1997

Normales

August 1998

1996

Normales

October 1997

1995

Normales

August 1996

1994

Normales

October 1995

1993

Normales

September 1994

1992

Normales

August 1993

1991

Normales

August 1992

1990

Normales

September 1991

1989

Normales

July 1990

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 31/12/2016

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

Information corresponding to the fiscal year 2016 2015 2014 2013 2012 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2016 2015 2014 2013 2012 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria. To view details on the methodology.

ORIGINAL

Assets

2016

2015

2014

2013

2012

A) NON-CURRENT ASSETS: 11000

38.621.773,00

39.998.986,00

40.633.748,00

41.140.943,00

43.054.266,00

I. Intangible fixed assets : 11100

135.403,00

110.851,00

123.545,00

136.039,00

141.981,00

1. Development: 11110

0,00

1.295,00

2. Concessions: 11120

0,00

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

60.737,00

54.138,00

60.506,00

59.077,00

38.427,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

74.667,00

56.713,00

63.039,00

76.962,00

102.259,00

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

19.574.784,00

20.239.634,00

21.142.581,00

22.173.440,00

23.031.197,00

1. Land and buildings: 11210

16.497.399,00

16.205.425,00

16.649.587,00

17.132.512,00

17.529.035,00

2. Technical installations and other tangible fixed assets: 11220

2.648.653,00

2.931.226,00

3.537.258,00

4.125.173,00

4.770.624,00

3. Tangible asset in progress and advances: 11230

428.732,00

1.102.983,00

955.736,00

915.755,00

731.538,00

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

18.734.822,00

19.414.947,00

19.010.067,00

18.646.940,00

19.867.599,00

1. Equity instruments: 11410

11.330.240,00

11.243.102,00

11.761.218,00

11.555.310,00

11.759.882,00

2. Credits to businesses: 11420

7.404.582,00

8.171.845,00

7.248.849,00

7.091.630,00

8.107.717,00

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

13.489,00

1. Equity instruments: 11510

0,00

2. Credits to third parties : 11520

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

13.489,00

6. Other investments: 11560

0,00

VII. Non-current trade debts : 11700

0,00

VI. Assets for deferred tax : 11600

163.275,00

220.065,00

344.066,00

171.035,00

0,00

B) CURRENT ASSETS: 12000

43.756.923,00

39.796.720,00

34.353.549,00

25.965.380,00

24.862.552,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

9.599.352,00

9.819.415,00

9.380.980,00

9.540.685,00

9.450.691,00

1. Commercial: 12210

1.898.307,00

2.028.410,00

1.903.493,00

1.734.278,00

1.662.816,00

2. Primary material and other supplies: 12220

4.232.058,00

4.253.623,00

3.965.886,00

3.751.783,00

3.706.973,00

a) Long-term primary material and other supplies: 12221

0,00

b) Short-term primary material and other supplies: 12222

4.232.058,00

0,00

3. Work in progress: 12230

2.192.921,00

2.299.458,00

2.144.094,00

2.431.355,00

2.334.449,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

2.192.921,00

2.299.458,00

2.144.094,00

2.431.355,00

2.334.449,00

4. Finished goods: 12240

1.272.142,00

1.221.612,00

1.301.300,00

1.499.621,00

1.745.039,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

1.272.142,00

1.221.612,00

1.301.300,00

1.499.621,00

1.745.039,00

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

0,00

6. Advances to suppliers: 12260

3.924,00

16.311,00

66.207,00

123.649,00

1.415,00

III. Trade debtors and others receivable accounts: 12300

10.099.202,00

9.057.652,00

9.855.822,00

9.567.007,00

8.450.624,00

1. Trade debtors / accounts receivable: 12310

4.115.424,00

3.814.593,00

3.345.685,00

3.567.217,00

3.627.973,00

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

0,00

b) Customers for sales and provisions of services : 12312

4.115.424,00

3.814.593,00

3.345.685,00

3.567.217,00

3.627.973,00

2. Customers, Group companies and associates : 12320

5.267.957,00

4.518.643,00

5.773.551,00

5.141.458,00

3.787.484,00

3. Other accounts receivable: 12330

727,00

289,00

550,00

67.298,00

4.381,00

4. Personnel: 12340

7.345,00

33.346,00

15.748,00

4.428,00

8.545,00

5. Assets for deferred tax: 12350

0,00

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

707.749,00

690.781,00

720.289,00

786.605,00

1.022.242,00

7. Called up share capital: 12370

0,00

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

0,00

3.857.813,00

300.000,00

240.000,00

364.000,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

0,00

3.857.813,00

300.000,00

240.000,00

364.000,00

3. Debt securities: 12430

0,00

4. Derivatives : 12440

0,00

5. Other financial assets : 12450

0,00

6. Other investments: 12460

0,00

V. Short-term financial investments : 12500

42.964,00

12.245.480,00

8.854.851,00

3.683.014,00

5.899.852,00

1. Equity instruments: 12510

42.964,00

42.284,00

27.845,00

27.675,00

27.891,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

2.498.322,00

0,00

3.612.674,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

0,00

9.704.874,00

8.827.006,00

3.655.339,00

2.259.286,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

46.955,00

10.804,00

71.760,00

46.816,00

21.384,00

VII. Cash and other equivalent liquid assets : 12700

23.968.449,00

4.805.556,00

5.890.136,00

2.887.858,00

676.001,00

1. Treasury: 12710

23.968.449,00

4.805.556,00

5.890.136,00

2.887.858,00

676.001,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

82.378.696,00

79.795.706,00

74.987.297,00

67.106.323,00

67.916.818,00

ORIGINAL

Liabilities and Net Worth

2016

2015

2014

2013

2012

A) NET WORTH: 20000

63.551.981,00

59.363.555,00

54.660.612,00

56.238.456,00

53.901.229,00

A-1) Shareholders' equity: 21000

62.618.385,00

58.360.918,00

53.615.578,00

55.160.160,00

53.140.533,00

I. Capital: 21100

601.000,00

1. Registered capital : 21110

601.000,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

61.859.185,00

57.113.845,00

54.009.160,00

52.039.533,00

49.033.494,00

1. Legal and statutory: 21310

120.208,00

2. Other reserves: 21320

61.428.508,00

56.993.636,00

53.888.952,00

51.919.324,00

48.913.285,00

3. Revaluation reserves: 21330

0,00

2. Capitalisation Reserves: 21350

310.468,00

0,00

IV. (Common stock equity): 21400

-5.049.267,00

0,00

V. Results from previous periods: 21500

0,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

5.207.466,00

5.695.340,00

4.054.684,00

2.519.627,00

3.506.039,00

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

933.596,00

1.002.637,00

1.045.033,00

1.078.296,00

760.697,00

B) NON-CURRENT LIABILITIES: 31000

6.864.397,00

9.336.497,00

10.604.712,00

1.148.539,00

1.706.851,00

I. Long-term provisions: 31100

178.369,00

168.433,00

168.785,00

168.956,00

180.429,00

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

178.369,00

168.433,00

168.785,00

168.956,00

180.429,00

II Long-term creditors: 31200

6.347.824,00

8.795.335,00

10.000.000,00

375.000,00

988.249,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

6.347.824,00

8.795.335,00

10.000.000,00

375.000,00

975.000,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

0,00

13.249,00

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

0,00

IV. Liabilities for deferred tax: 31400

338.204,00

372.730,00

435.927,00

604.583,00

538.173,00

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

11.962.319,00

11.095.653,00

9.721.974,00

9.719.329,00

12.308.738,00

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

0,00

II. Short-term provisions: 32200

116.079,00

112.961,00

89.921,00

63.336,00

57.247,00

1. Provisions from greenhouse gas emission allowance: 32210

0,00

2. Other provisions: 32220

116.079,00

112.961,00

89.921,00

63.336,00

0,00

III. Short-term creditors : 32300

2.976.981,00

2.615.088,00

1.611.407,00

2.288.880,00

2.268.957,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

2.467.246,00

1.235.125,00

405.181,00

1.026.271,00

1.685.275,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

509.735,00

1.379.963,00

1.206.226,00

1.262.609,00

583.682,00

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

0,00

V. Trade creditors and other accounts payable: 32500

8.869.259,00

8.367.605,00

8.020.645,00

7.367.113,00

9.982.534,00

1. Suppliers: 32510

4.801.287,00

4.475.742,00

4.555.829,00

4.054.930,00

5.616.160,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

4.801.287,00

4.475.742,00

4.555.829,00

4.054.930,00

5.616.160,00

2. Suppliers, Group companies and associates: 32520

508.823,00

303.137,00

268.951,00

597.857,00

415.472,00

3. Other creditors: 32530

1.244.464,00

1.198.986,00

789.924,00

923.779,00

1.093.084,00

4. Personnel (remuneration due): 32540

1.130.362,00

1.074.050,00

883.792,00

937.457,00

957.495,00

5. Liabilities for current tax: 32550

364.700,00

537.744,00

726.429,00

194.560,00

701.838,00

6. Other accounts payable to Public Administrations.: 32560

796.054,00

740.288,00

697.361,00

625.738,00

963.090,00

7. Advances from clients: 32570

23.569,00

37.657,00

98.360,00

32.792,00

235.395,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

82.378.696,00

79.795.706,00

74.987.297,00

67.106.323,00

67.916.818,00

ORIGINAL

Profit and Loss

2016

2015

2014

2013

2012

1. Net turnover: 40100

39.484.823,00

38.488.306,00

34.466.930,00

35.186.289,00

35.182.272,00

a) Sales: 40110

39.484.823,00

38.488.306,00

34.466.930,00

35.186.289,00

35.182.272,00

b) Rendering of services: 40120

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

-56.007,00

75.675,00

-485.581,00

-148.512,00

1.055.964,00

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

0,00

441.850,00

4. Supplies : 40400

-18.198.438,00

-17.356.038,00

-15.351.056,00

-16.036.175,00

-17.180.438,00

a) Stock consumption: 40410

-3.072.965,00

-2.705.694,00

-2.526.297,00

-2.344.339,00

-1.990.904,00

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

-12.989.603,00

-12.646.992,00

-11.083.870,00

-11.773.679,00

-13.231.597,00

c) Works carried out by other companies: 40430

-2.135.870,00

-2.003.352,00

-1.740.888,00

-1.918.156,00

-1.957.937,00

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

0,00

5. Other operating income: 40500

78.034,00

106.138,00

129.769,00

129.117,00

138.403,00

a) Auxiliary income and other from current management: 40510

36.484,00

73.152,00

110.449,00

67.278,00

27.407,00

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

41.550,00

32.986,00

19.320,00

61.839,00

110.996,00

6. Personnel costs: 40600

-9.296.620,00

-9.021.037,00

-8.868.239,00

-8.687.305,00

-8.542.589,00

a) Wages, salaries et al.: 40610

-7.278.100,00

-7.049.278,00

-6.915.787,00

-6.711.291,00

-6.632.441,00

b) Social security costs: 40620

-2.018.520,00

-1.971.759,00

-1.952.452,00

-1.976.015,00

-1.910.148,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-4.630.497,00

-4.704.885,00

-4.510.141,00

-4.647.198,00

-4.510.994,00

a) External services: 40710

-4.507.785,00

-4.637.265,00

-4.286.995,00

-4.471.287,00

-4.350.511,00

b) Taxes: 40720

-114.681,00

-116.284,00

-116.118,00

-125.379,00

-125.385,00

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

-8.032,00

48.663,00

-107.028,00

-50.533,00

-35.099,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-1.676.580,00

-1.801.773,00

-2.089.193,00

-2.132.733,00

-2.369.996,00

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

92.054,00

125.923,00

143.026,00

289.760,00

131.980,00

10. Excess provisions : 41000

0,00

352,00

171,00

5.384,00

33.215,00

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

17.959,00

27.140,00

8.110,00

1.000,00

6.211,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

17.959,00

27.140,00

8.110,00

1.000,00

6.211,00

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

-34.646,00

-85.010,00

4.395,00

-325,00

-144.504,00

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

5.780.083,00

5.854.791,00

3.448.192,00

3.959.303,00

4.241.373,00

14. Financial income : 41400

310.171,00

341.157,00

263.382,00

224.825,00

438.131,00

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

310.171,00

341.157,00

263.382,00

224.825,00

438.131,00

b 1) From Group companies and associates : 41421

164.867,00

233.300,00

120.839,00

131.576,00

207.539,00

b 2) From third parties : 41422

145.304,00

107.856,00

142.543,00

93.249,00

230.592,00

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

0,00

15. Financial expenditure: 41500

-226.653,00

-251.694,00

-172.851,00

-64.261,00

-73.350,00

a) Amounts owed to Group companies and associates : 41510

-9.843,00

-17.850,00

-12.157,00

0,00

b) For debts with third parties : 41520

-216.810,00

-233.844,00

-160.694,00

-64.261,00

-73.350,00

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

789.360,00

1.810.543,00

1.909.985,00

-380.523,00

-94.349,00

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

87.264,00

-56.150,00

205.965,00

-204.517,00

485.508,00

a) Impairment and losses : 41810

87.138,00

-56.198,00

205.908,00

-204.571,00

485.669,00

b) Results for transfers and other : 41820

127,00

48,00

58,00

55,00

-161,00

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

960.142,00

1.843.856,00

2.206.482,00

-424.477,00

755.940,00

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

6.740.225,00

7.698.647,00

5.654.674,00

3.534.826,00

4.997.313,00

20. Income taxes: 41900

-1.532.759,00

-2.003.307,00

-1.599.990,00

-1.015.199,00

-1.491.273,00

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

5.207.466,00

5.695.340,00

4.054.684,00

2.519.627,00

3.506.039,00

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

0,00

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

5.207.466,00

5.695.340,00

4.054.684,00

2.519.627,00

3.506.039,00

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

Information corresponding to the fiscal year 2016 2015 2014 2013 2012 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria,. To view details on the methodology 2016 2015 2014 2013 2012 is taken from information submitted to the TRADE REGISTER.

EQUIVALENCIA

ASSETS

2016

2015

2014

2013

2012

A) SHAREHOLDERS (PARTNERS) BY UNCALLED SUSCRIBED CAPITAL:

0,00

B) FIXED ASSETS:

43.507.765,00

44.828.187,00

45.338.948,00

40.969.908,00

43.054.266,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

135.403,00

110.851,00

123.545,00

136.039,00

141.981,00

1. Research and development costs:

0,00

1.295,00

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

60.737,00

54.138,00

60.506,00

59.077,00

38.427,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

5. Software:

74.667,00

56.713,00

63.039,00

76.962,00

102.259,00

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:

19.574.784,00

20.239.634,00

21.142.581,00

22.173.440,00

23.031.197,00

1. Land and construction:

16.497.399,00

16.205.425,00

16.649.587,00

17.132.512,00

17.529.035,00

2. Technical installations and machinery:

2.021.683,00

2.237.368,00

2.699.944,00

3.148.692,00

3.641.356,00

3. Other installations, tools and furniture:

462.220,00

511.532,00

617.291,00

719.889,00

832.528,00

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

428.732,00

1.102.983,00

955.736,00

915.755,00

731.538,00

5. Other tangible assets:

164.750,00

182.327,00

220.023,00

256.592,00

296.740,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

18.748.311,00

19.428.436,00

19.023.555,00

18.660.429,00

19.881.088,00

1. Equity investments in group companies:

11.330.240,00

11.243.102,00

11.761.218,00

11.555.310,00

11.759.882,00

2. Receivables from group companies:

7.404.582,00

8.171.845,00

7.248.849,00

7.091.630,00

8.107.717,00

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

7. Long term guarantees and deposits:

13.489,00

8. Provisions:

0,00

9. Long-term receivables from public bodies:

0,00

V. Own shares:

5.049.267,00

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

43.920.198,00

40.016.785,00

34.697.616,00

26.136.415,00

24.862.552,00

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

0,00

II. Stocks:

9.599.352,00

9.819.415,00

9.380.980,00

9.540.685,00

9.450.691,00

1. Goods for resale:

1.898.307,00

2.028.410,00

1.903.493,00

1.734.278,00

1.662.816,00

2. Raw materials and other consumables:

4.232.058,00

4.253.623,00

3.965.886,00

3.751.783,00

3.706.973,00

3. Goods in process and semifinished ones:

2.192.921,00

2.299.458,00

2.144.094,00

2.431.355,00

2.334.449,00

4. Finished products:

1.272.142,00

1.221.612,00

1.301.300,00

1.499.621,00

1.745.039,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

3.924,00

16.311,00

66.207,00

123.649,00

1.415,00

7. Provisions:

0,00

III. Debtors:

10.262.477,00

9.277.717,00

10.199.889,00

9.738.042,00

8.450.624,00

1. Trade debtors / accounts receivable:

4.115.424,00

3.814.593,00

3.345.685,00

3.567.217,00

3.627.973,00

2. Accounts receivable, Group companies:

5.267.957,00

4.518.643,00

5.773.551,00

5.141.458,00

3.787.484,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

727,00

289,00

550,00

67.298,00

4.381,00

5. Staff:

7.345,00

33.346,00

15.748,00

4.428,00

8.545,00

6. Public bodies:

871.025,00

910.847,00

1.064.355,00

957.640,00

1.022.242,00

7. Provisions:

0,00

IV. Short-term investments:

42.964,00

16.103.293,00

9.154.851,00

3.923.014,00

6.263.852,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

0,00

3.857.813,00

300.000,00

240.000,00

364.000,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

42.964,00

2.540.606,00

27.845,00

27.675,00

3.640.566,00

6. Other receivables:

0,00

7. Shor term guarantees and deposits:

0,00

9.704.874,00

8.827.006,00

3.655.339,00

2.259.286,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

23.968.449,00

4.805.556,00

5.890.136,00

2.887.858,00

676.001,00

VII. Prepayments and accrued income:

46.955,00

10.804,00

71.760,00

46.816,00

21.384,00

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

87.427.963,00

84.844.972,00

80.036.564,00

67.106.323,00

67.916.818,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2016

2015

2014

2013

2012

A) EQUITY:

67.637.262,00

63.710.976,00

58.978.355,00

55.483.649,00

53.368.742,00

I. Subscribed capital:

601.000,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

61.828.795,00

57.414.636,00

54.322.670,00

52.363.022,00

49.261.703,00

1. Legal reserve:

120.208,00

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:

61.708.568,00

57.294.409,00

54.202.445,00

52.242.797,00

49.141.479,00

6. Differences due to capital adjustment to euros:

19,00

18,00

17,00

16,00

V. Profit or loss brought forward:

0,00

1. Retained earnings:

0,00

2. Prior year losses:

0,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

5.207.466,00

5.695.340,00

4.054.684,00

2.519.627,00

3.506.039,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

653.517,00

701.846,00

731.523,00

754.807,00

532.488,00

1. Capital grants:

653.517,00

701.846,00

731.523,00

754.807,00

532.488,00

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:

178.369,00

168.433,00

168.785,00

168.956,00

180.429,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

178.369,00

168.433,00

168.785,00

168.956,00

180.429,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

6.686.028,00

9.168.065,00

10.435.927,00

979.583,00

1.526.422,00

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:

6.347.824,00

8.795.335,00

10.000.000,00

375.000,00

975.000,00

1. Loans and other liabilities:

6.347.824,00

8.795.335,00

10.000.000,00

375.000,00

975.000,00

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:

338.204,00

372.730,00

435.927,00

604.583,00

551.422,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

0,00

13.249,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

338.204,00

372.730,00

435.927,00

604.583,00

538.173,00

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:

11.962.319,00

11.095.653,00

9.721.974,00

9.719.329,00

12.308.738,00

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:

2.467.246,00

1.235.125,00

405.181,00

1.026.271,00

1.685.275,00

1. Loans and other liabilities:

2.467.246,00

1.235.125,00

405.181,00

1.026.271,00

1.685.275,00

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:

508.823,00

303.137,00

268.951,00

597.857,00

415.472,00

1. Amounts owed to group companies:

508.767,00

303.104,00

268.921,00

597.791,00

415.427,00

2. Amounts owed to associated companies:

56,00

33,00

30,00

66,00

46,00

IV. Trade creditors:

6.069.320,00

5.712.385,00

5.444.113,00

5.011.501,00

6.944.638,00

1. Advanced payments from customers:

23.569,00

37.657,00

98.360,00

32.792,00

235.395,00

2. Amounts owed for purchases of goods or services:

6.045.751,00

5.674.728,00

5.345.753,00

4.978.709,00

6.709.244,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

2.800.851,00

3.732.045,00

3.513.807,00

3.020.364,00

3.206.105,00

1. Public bodies:

1.160.754,00

1.278.032,00

1.423.790,00

820.298,00

1.664.928,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

509.735,00

1.379.963,00

1.206.226,00

1.262.609,00

583.682,00

4. Wages and salaries payable:

1.130.362,00

1.074.050,00

883.792,00

937.457,00

957.495,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

116.079,00

112.961,00

89.921,00

63.336,00

57.247,00

VII. Prepayments and accrued income:

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

87.117.494,00

84.844.972,00

80.036.564,00

67.106.323,00

67.916.818,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2016

2015

2014

2013

2012

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

35.565.062,00

35.279.942,00

32.871.141,00

33.316.802,00

33.921.986,00

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

56.007,00

0,00

485.581,00

148.512,00

0,00

A.2. Supplies:

18.198.438,00

17.356.038,00

15.351.056,00

16.036.175,00

17.180.438,00

a) Stock consumption:

3.072.965,00

2.705.694,00

2.526.297,00

2.344.339,00

1.990.904,00

b) Consumption of raw materials and miscellaneous consumable ones:

12.989.603,00

12.646.992,00

11.083.870,00

11.773.679,00

13.231.597,00

c) Miscellaneous external expenditure:

2.135.870,00

2.003.352,00

1.740.888,00

1.918.156,00

1.957.937,00

A.3. Staff costs:

9.296.620,00

9.021.037,00

8.868.239,00

8.687.305,00

8.542.589,00

a) Wages, salaries et al.:

7.278.100,00

7.049.278,00

6.915.787,00

6.711.291,00

6.632.441,00

b) Social security costs:

2.018.520,00

1.971.759,00

1.952.452,00

1.976.015,00

1.910.148,00

A.4. Depreciation expense:

1.676.580,00

1.801.773,00

2.089.193,00

2.132.733,00

2.369.996,00

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

8.032,00

-48.663,00

107.028,00

50.533,00

35.099,00

a) Stock provision variation:

0,00

b) Variation in provision and bad debt losses:

5.742,00

-34.792,00

76.520,00

36.129,00

25.094,00

c) Variation of other trade provisions:

2.289,00

-13.871,00

30.508,00

14.404,00

10.005,00

A.6. Other operating charges:

4.622.465,00

4.753.548,00

4.403.113,00

4.596.666,00

4.475.895,00

a) External services:

4.507.785,00

4.637.265,00

4.286.995,00

4.471.287,00

4.350.511,00

b) Taxes:

114.681,00

116.284,00

116.118,00

125.379,00

125.385,00

c) Other operating expenses:

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):

5.704.716,00

5.786.739,00

3.292.661,00

3.668.868,00

4.247.686,00

A.7. Financial and similar charges:

217.516,00

257.586,00

151.259,00

85.713,00

22.440,00

a) Due to liabilities with companies of the group:

9.843,00

17.850,00

12.157,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

216.810,00

233.844,00

160.694,00

64.261,00

73.350,00

d) Losses from financial investments:

-9.137,00

5.893,00

-21.592,00

21.451,00

-50.910,00

A.8. Changes in financial investment provisions:

47.006,00

-30.316,00

111.075,00

-110.354,00

261.902,00

A.9. Exchange losses:

0,00

380.523,00

94.349,00

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

835.136,00

1.924.477,00

1.911.091,00

0,00

59.440,00

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

6.539.852,00

7.711.216,00

5.203.751,00

3.537.865,00

4.307.126,00

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

-125.006,00

80.621,00

-295.391,00

293.473,00

-696.499,00

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

0,00

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

0,00

A.13. Extraordinary expenses:

34.646,00

85.010,00

0,00

325,00

144.504,00

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):

200.373,00

0,00

450.923,00

0,00

690.186,00

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

6.740.225,00

7.698.647,00

5.654.674,00

3.534.826,00

4.997.313,00

A.15. Corporation tax:

1.532.759,00

2.003.307,00

1.599.990,00

1.015.199,00

1.491.273,00

A.16. Miscellaneous taxes:

0,00

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

5.207.466,00

5.695.340,00

4.054.684,00

2.519.627,00

3.506.039,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2016

2015

2014

2013

2012

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

40.772.528,00

40.975.282,00

36.925.826,00

35.836.430,00

37.428.025,00

B.1. Net total sales:

39.484.823,00

38.488.306,00

34.466.930,00

35.186.289,00

35.182.272,00

a) Sales:

39.671.164,00

38.669.943,00

34.629.589,00

35.352.343,00

35.348.307,00

b) Rendering of services:

0,00

Returns and Rappel on sales:

-186.340,00

-181.637,00

-162.659,00

-166.054,00

-166.035,00

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

0,00

75.675,00

0,00

1.055.964,00

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

0,00

441.850,00

B.4. Miscellaneous operating income:

78.034,00

106.491,00

129.940,00

134.501,00

171.618,00

a) Auxiliary income and other from current management:

36.484,00

73.152,00

110.449,00

67.278,00

27.407,00

b) Grants:

41.550,00

32.986,00

19.320,00

61.839,00

110.996,00

c) Liabilities and charges provisions surplus:

0,00

352,00

171,00

5.384,00

33.215,00

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):

0,00

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:

164.867,00

233.300,00

120.839,00

131.576,00

207.539,00

a) From companies of the group:

164.867,00

233.300,00

120.839,00

131.576,00

207.539,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

B.7. Miscellaneous interests or similar income:

145.430,00

107.904,00

142.601,00

93.303,00

230.592,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

145.304,00

107.856,00

142.543,00

93.249,00

230.592,00

d) Profit on financial investment:

127,00

48,00

58,00

55,00

0,00

B.8. Exchange positive differences:

789.360,00

1.810.543,00

1.909.985,00

0,00

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

0,00

131.003,00

0,00

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

0,00

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

17.959,00

27.140,00

8.110,00

1.000,00

6.211,00

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

0,00

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

92.054,00

125.923,00

143.026,00

289.760,00

131.980,00

B.12. Extraordinary income:

0,00

4.395,00

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

12.568,00

0,00

3.038,00

0,00

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

0,00

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

0,00

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.

Net Rights Granted

2016

2015

2014

2013

2012

1. Fiscal year result before taxes.: 61100

6.740.225,00

7.698.647,00

5.654.674,00

3.534.826,00

4.997.313,00

2. Results adjustments.: 61200

1.403.817,00

1.566.383,00

1.748.416,00

1.931.074,00

1.383.401,00

a) Fixed Assets Amortization (+).: 61201

1.676.580,00

1.801.773,00

2.089.193,00

2.132.733,00

2.369.996,00

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

-92.161,00

-15.504,00

-125.466,00

255.104,00

-450.571,00

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

13.054,00

22.687,00

26.414,00

-5.384,00

-33.215,00

d) Allocation of grants (-).: 61204

-92.054,00

-125.923,00

-143.026,00

-289.760,00

-131.980,00

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

-17.959,00

-27.140,00

-8.110,00

-1.000,00

-6.211,00

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

-127,00

-48,00

-58,00

-55,00

161,00

g) Financial income (-).: 61207

-310.171,00

-341.157,00

-263.382,00

-224.825,00

-438.131,00

h) Financial Expenses (+). : 61208

226.653,00

251.694,00

172.851,00

64.261,00

73.350,00

3. Changes in current capital equity.: 61300

-227.787,00

996.948,00

-341.796,00

-3.414.136,00

-41.512,00

a) Stock (+/-).: 61301

220.063,00

-438.435,00

159.705,00

-89.994,00

-2.277.154,00

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

-1.036.528,00

869.873,00

-564.258,00

-1.166.916,00

732.846,00

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

-36.151,00

60.956,00

-24.944,00

-25.432,00

3.597,00

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

624.829,00

504.554,00

87.701,00

-2.131.794,00

1.507.234,00

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

0,00

-8.036,00

4. Cash Flows from Other Operating Activities: 61400

-1.527.138,00

-1.992.483,00

-1.175.551,00

-1.579.001,00

-777.836,00

a) Interest payments (-). : 61401

-226.653,00

-251.694,00

-172.851,00

-64.261,00

-73.350,00

c) Interest collection (+). : 61403

310.171,00

341.157,00

263.382,00

224.825,00

438.131,00

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

-1.610.656,00

-2.081.946,00

-1.266.083,00

-1.739.564,00

-1.142.616,00

5. Cash Flows from Operating Activities (1 + 2 + 3 + 4) : 61500

6.389.117,00

8.269.495,00

5.885.743,00

472.764,00

5.561.365,00

6. Payments for investment (-).: 62100

-1.222.946,00

-9.349.071,00

-7.605.988,00

-2.774.555,00

-16.063.792,00

a) Companies of the group and affiliates. : 62101

-184.478,00

-5.033.693,00

-1.387.219,00

-106.337,00

-6.718.295,00

b) Intangible fixed assets. : 62102

-50.019,00

-44.682,00

-43.818,00

-70.336,00

-561.105,00

c) Fixed assets. : 62103

-986.264,00

-867.081,00

-1.002.021,00

-1.198.697,00

-5.668.049,00

e) Other financial assets. : 62105

-2.185,00

-3.403.615,00

-5.172.930,00

-1.399.185,00

-3.116.342,00

7. Divestment payment collection (+). : 62200

17.032.340,00

1.080.606,00

1.179.261,00

4.863.501,00

8.358.872,00

a) Companies of the group and affiliates. : 62201

4.809.554,00

1.014.800,00

1.170.000,00

1.246.424,00

2.889.968,00

c) Fixed assets. : 62203

17.959,00

52.771,00

8.110,00

1.000,00

11.442,00

e) Other financial assets. : 62205

12.204.827,00

13.034,00

1.150,00

3.616.077,00

5.457.462,00

8. Cash Flow from Investing Activities (6+7) less Amortization: 62300

15.809.394,00

-8.268.465,00

-6.426.727,00

2.088.947,00

-7.704.920,00

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

0,00

65.375,00

-4.854.267,00

743.473,00

86.158,00

c) Acquisition of own equity instruments (-). : 63103

0,00

-5.049.267,00

0,00

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

0,00

65.375,00

195.000,00

743.473,00

86.158,00

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

-2.085.618,00

-200.985,00

8.947.528,00

-593.327,00

131.881,00

a) Issuance : 63201

0,00

173.737,00

10.000.000,00

665.677,00

220.936,00

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

0,00

10.000.000,00

0,00

220.936,00

5. Other debts (+). : 63206

0,00

173.737,00

0,00

665.677,00

0,00

b) Repayment and amortization of : 63207

-2.085.618,00

-374.721,00

-1.052.472,00

-1.259.004,00

-89.056,00

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

-1.215.390,00

-374.721,00

-996.090,00

-1.259.004,00

0,00

5. Other debts (-). : 63212

-870.228,00

0,00

-56.383,00

0,00

-89.056,00

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

-950.000,00

-550.000,00

-500.000,00

-300.000,00

a) Dividends (-).: 63301

-950.000,00

-550.000,00

-500.000,00

-300.000,00

12. Cash Flows from Financing Activities (9+10+11): 63400

-3.035.618,00

-1.085.610,00

3.543.261,00

-349.853,00

-81.962,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

19.162.894,00

-1.084.580,00

3.002.277,00

2.211.857,00

-2.225.517,00

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

4.805.556,00

5.890.136,00

2.887.858,00

676.001,00

2.901.518,00

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

23.968.449,00

4.805.556,00

5.890.136,00

2.887.858,00

676.001,00

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

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,49 %

0,01 %

-0,03 %

0,06 %

1.822,29 %

-84,22 %

Net Financial Debt:

-1,99

2,06

-0,74

2,84

-167,67

-27,60

Cash Flow Yield:

0,23 %

0,01 %

-0,01 %

0,03 %

1.811,45 %

-83,73 %

EBITDA over Sales:

18,69 %

12,17 %

19,72 %

10,44 %

-5,18 %

16,59 %

Profitability

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

9,14 %

9,05 %

13,42 %

6,93 %

-31,85 %

30,59 %

Total economic profitability:

8,46 %

5,18 %

9,96 %

3,20 %

-15,12 %

62,17 %

Financial profitability:

8,32 %

7,80 %

9,76 %

4,15 %

-14,78 %

87,88 %

Margin:

14,70 %

7,93 %

15,39 %

6,34 %

-4,50 %

25,21 %

Mark-up:

17,12 %

7,37 %

20,17 %

3,79 %

-15,09 %

94,65 %

Solvency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

2,02

0,16

0,44

0,14

362,41

13,88

Acid Test:

2,88

0,89

2,73

0,87

5,53

3,04

Working Capital / Investment:

0,39

0,03

0,36

0,03

7,31

3,54

Solvency:

3,71

1,20

3,64

1,19

1,75

1,30

Indebtedness

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,29

1,21

0,34

1,31

-14,09

-7,76

Borrowing Composition:

0,56

1,02

0,83

1,04

-32,39

-2,10

Repayment Ability:

2,51

8,87

2,66

11,05

-5,45

-19,73

Warranty:

4,45

1,85

3,96

1,78

12,25

3,67

Generated resources / Total creditors:

0,37

0,10

0,37

0,08

-2,16

26,80

Efficiency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,79

1,92

1,84

1,80

-2,56

6,96

Turnover of Collection Rights :

3,92

5,12

4,26

5,22

-8,06

-1,92

Turnover of Payment Entitlements:

2,57

3,53

2,65

3,69

-2,94

-4,32

Stock rotation:

3,53

8,15

3,34

7,79

5,57

4,60

Assets turnover:

0,62

1,14

0,87

1,09

-28,64

4,30

Borrowing Cost:

1,22

2,35

1,25

2,45

-2,08

-4,17

> Trend of indicators under the General Accounting Plan of 2007 (2016, 2015, 2014, 2013, 2012)

Cash Flow

2016

2015

2014

2013

2012

Cash Flow over Sales:

0,49 %

-0,03 %

0,09 %

0,06 %

-0,06 %

Net Financial Debt:

-1,99

-0,74

-0,58

-0,67

-0,50

Cash Flow Yield:

0,23 %

-0,01 %

0,04 %

0,03 %

-0,03 %

EBITDA over Sales:

18,69 %

19,72 %

15,61 %

16,47 %

18,72 %

Profitability

2016

2015

2014

2013

2012

Operating economic profitability:

9,14 %

13,42 %

7,36 %

8,89 %

10,50 %

Total economic profitability:

8,46 %

9,96 %

7,77 %

5,36 %

7,47 %

Financial profitability:

8,32 %

9,76 %

7,56 %

4,57 %

6,60 %

Margin:

14,70 %

15,39 %

9,95 %

11,21 %

12,26 %

Mark-up:

17,12 %

20,17 %

16,33 %

10,01 %

14,38 %

Solvency

2016

2015

2014

2013

2012

Liquidity:

2,02

0,44

0,61

0,30

0,06

Acid Test:

2,88

2,73

2,59

1,70

1,26

Working Capital / Investment:

0,39

0,36

0,33

0,24

0,18

Solvency:

3,71

3,64

3,60

2,71

2,03

Indebtedness

2016

2015

2014

2013

2012

Indebtedness level:

0,29

0,34

0,37

0,19

0,25

Borrowing Composition:

0,56

0,83

1,08

0,10

0,12

Repayment Ability:

2,51

2,66

3,73

1,83

2,09

Warranty:

4,45

3,96

3,74

6,31

4,93

Generated resources / Total creditors:

0,37

0,30

0,46

0,39

Efficiency

2016

2015

2014

2013

2012

Productivity:

1,79

1,84

1,61

1,67

1,77

Turnover of Collection Rights :

3,92

4,26

3,51

3,69

4,23

Turnover of Payment Entitlements:

2,57

2,65

2,42

2,79

2,28

Stock rotation:

3,53

3,34

3,32

3,34

Assets turnover:

0,62

0,87

0,74

0,79

0,86

Borrowing Cost:

1,22

1,25

0,86

0,60

0,53

COMPARATIVE SECTORIAL BALANCE

Sector-based Comparison under the rules of the New General Accounting Plan.

Net Rights Granted

Variación -

Empresa

Sector

Net Rights Granted

Variación -

Empresa

Sector

Net Rights Granted

Variación -

Empresa

Sector

News

----

Public Tenders and Works Won

Organisation that calls the tender:

EMPRESA MUNICIPAL DE SERVICIOS DE MEDIO AMBIENTE URBANO DE GIJON SA

Objective of Tender:

SUMINISTRO, INSTALACION Y MANTENIMIENTO DURANTE LOS DOS PRIMEROS AÑOS DE DIVERSO EQUIPAMIENTO PARA EL TALLER DE VEHICULOS

Date Awarded:

14/12/2010

Cost:

85.856,38 EURO.

Organisation that calls the tender:

MINISTERIO DE DEFENSA

Objective of Tender:

ADQUISICION DE MAQUINARIA, UTILLAJE Y APARATOS DE MEDIDA PARA MANTENIMIENTO DE VEHICULOS

Date Awarded:

31/05/2004

Cost:

ver imagen segun lote

Detail of Subsidies appearing in Balances Memories

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

92.054,09

Notes

Este importe corresponde al traspasado a resultados del ejercicio.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

41.550,16

Notes

El importe reflejado corresponde al imputado a resultados.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

131.979,72

Notes

Este importe corresponde al traspasado a resultados del ejercicio.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

110.996,26

Notes

El importe reflejado corresponde al imputado a resultados.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

81.569,29

Notes

Este importe corresponde al traspasado a resultados del ejercicio.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

24.593,00

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

21.779,41

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

110.055,44

Notes

Dicho importe corresponde al traspasado a resultados del ejercicio, quedando a fecha de cierre pendiente de imputar 862.732,53 euros.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

1.235.804,71

Notes

Estas subvenciones fueron recibidas durante el presente ejercicio 2007.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención a la explotación.

Status

CONCEDIDA

Amount Granted

78.993,54

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

17.771,77

Notes

De carácter no reintegrable. El importe está pendiente de amortizar.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención a la explotación.

Status

CONCEDIDA

Amount Granted

8.364,52

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención a la explotación.

Status

CONCEDIDA

Amount Granted

29.092,66

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de capital.

Status

CONCEDIDA

Amount Granted

26.842,11

Notes

De carácter no reintegrable.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

SUBVENCION A LA EXPLOTACION

Status

CONCEDIDA

Amount Granted

6.900,00

Research Summary

The subject was incorporated in 1962 and is engaged in the manufacture and marketing of equipment aimed at the handle and management of fluids. It operates at the national and international market. There are no negative comments made upon the subject, according to the consulted sources of reference. Having the above-mentioned into account, credit operations can be envisioned under normal terms.

Sources

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
Euro	1	INR 78.95

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

INFORMATION DETAILS

Analysis Done by :	NIS

Report Prepared by :	TRU

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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Identification

Branch Offices

Activity

Main products / services

Number of Employees

Chronological Summary

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

LEGAL CLAIMS

Link List

Turnover

Estimated Balance

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Detail of Subsidies appearing in Balances Memories

Research Summary

Sources

Unit