MIRA INFORM REPORT

 

 

Report No. :

494967

Report Date :

27.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HOVIONE FARMACIENCIA SA

 

 

Registered Office :

Quinta De São Pedro - Sete Casas, 2674-506-Loures, Loures, Lisboa

 

 

Country :

Portugal

 

 

Financials (as on) :

2016

 

 

Date of Incorporation :

08.04.1959

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of basic pharmaceutical products

 

 

No. of Employees :

824

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate 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

(30.09.2017)

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. The economy contracted in 2009, and fell again 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. A modest recovery gathered steam in 2015 due to strong export performance and a rebound in private consumption. Growth slowed slightly in the first half of 2016, but rebounded in the last two quarters of the year to register at 1.4 percent for the year. Unemployment remains high, at 10.2%, at the end of 2016, 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 2.0% in 2016, the country’s lowest since democracy was restored in 1974, and surpassing the EU and IMF projections of 3%. Portugal is expected to exit the EU’s excessive deficit procedure by mid-2017.

 

Source : CIA

 

COMPANY NAME

 

HOVIONE FARMACIENCIA SA

 

 

FINANCIAL HIGHLIGHTS                    

 

 

2014

2015

2016

net sales

98.810.345,12

125.920.071,80

145.615.745,91

net income for the year

19.906.682,97

29.272.445,81

36.254.220,31

Shareholders funds

62.874.159,64

90.879.936,89

122.421.961,43

stocks

19.007.676,90

22.882.911,71

26.038.613,09

liability

77.973.687,78

74.934.563,25

90.158.945,09

assets

140.847.847,42

165.814.500,14

212.580.906,52

 

 

SUMMARY

                                                                                                                                                           

Legal Form

Joint Stock Company

Constitution

08-04-1959

V.A.T. Number / NIF

500135495

Employees

824

Capital

13.750.000,00

Sales  in : 31-12-2016

145.615.745,91

Shareholders  Funds  in: 31-12-2016

122.421.961,43

Actual Condition

In activity

Import/Export

Sim / Sim

Ultimate Holding Company

Hovione Holding Limited - HONG-KONG

 

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

NO

 

SUMMARY OF CLAIMS (LAST 5 YEARS)

 

YEAR

QUANTITY

TOTAL

 

 

 

€

 

2017

2

9.571,20

 

2015

2

37.561,03

 

Total

4

47.132,23

 

IDENTIFICATION

                                                                                 

Name

HOVIONE FARMACIENCIA SA

Trust Nº.

81392

V.A.T. Number / NIF

500135495

Address

Quinta de São Pedro - Sete Casas

Postal Code

2674-506-LOURES

Municipality

LOURES

District

LISBOA

Country

Portugal

Telephone

219829000

Fax

219829388, 219836801, 219829129

E-Mail

qorderprocessingmembershq@hovione.com

Web Site

http://www.hovione.pt/

CAE Main

21100- Manufacture of basic pharmaceutical products

 

 

GOVERNING BODIES

                                                                                                                                       

Board of Director's

 

GUIDO DU BOULAY VILLAX

Board of Director's President

LUIS ANTONIO ANDRADE DA SILVA GOMES

Board of Director's Member

FRANCISCO XAVIER BELO VAN ZELLER

Board of Director's Member

ANTONIO TEIXEIRA DE VASCONCELOS NUNES DE ALMEIDA

Board of Director's Member

FILIPE EMANUEL NOGUEIRA FERREIRA GASPAR

Board of Director's Member

 

Fiscal Board

 

KPMG & ASSOCIADOS-SOCIEDADE DE REVISORES OFICIAIS DE CONTAS SA

Unique Fiscal

JOSE EDUARDO URPINA PORTUGAL

Fiscal Board Substitute

 

 

LEGAL STRUCTURE

 

Registed on the Register Record Office of Loures with the Register Number 500135495 previous number 1172 in 10-11-1996 Constitution celebrated in 08-04-1959 published on Diário da República number 112 of 12-05-1959 To oblige the company it is necessary 2 signature

 

CHANGES TO SOCIETY

 

In 16-10-2017 on Portal MJ of 16-10-2017 annual financial statements

In 13-10-2016 on Portal MJ of 13-10-2016 annual financial statements

In 01-08-2016 on Portal MJ of 01-08-2016 social change

In 12-10-2015 on Portal MJ of 12-10-2015 annual financial statements

In 28-09-2015 on Portal MJ of 28-09-2015 social change

In 30-09-2014 on Portal MJ of 30-09-2014 annual financial statements

In 17-06-2014 on Portal MJ of 27-08-2014 appointment of board of directors

In 17-06-2014 on Portal MJ of 17-06-2014 board of director's change

 In 17-06-2014 on Portal MJ of 17-06-2014 board of director's change

In 12-06-2014 on Portal MJ of 17-06-2014 resignation of board of directors

 

 

CAPITAL

 

The Capital is 13.750.000,00 , divided in 2750000 shares , with a nominal value of 5,00

 

with the following shareholders

 

 

HOVIONE HOLDING LTD

0,00

0%

 

 

BIOGRAPHIES    

                          

Name

FRANCISCO XAVIER BELO VAN ZELLER

Funtion

Board of Director's Member

Historical of Professional Connections and Participations

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

 

INDUGER-ENERGIA E SERVICOS LDA.

Links to others companies

The subject has connections with the following company (ies)

 

SOCIEDADE COMERCIAL OREY ANTUNES SA as Administrator .

 

METAL PORTUGUESA-DESENVOLVIMENTO IMOBILIARIO UNIPESSOAL LDA as Board of □rector's President .

 

AUTOMOVEL CLUB DE PORTUGAL as Board of □rector's Member .

 

ASSET GEST-SGPS SA as Board of □rector's President .

 

BADOCA-ACTIVIDADES TURISTICAS LDA as Managing-Partner with a participation of 47.827,00 , in a capital of 650.000,00 .

Name

ANTONIO TEIXEIRA DE VASCONCELOS NUNES DE ALMEIDA

Funtion

Board of Director's Member

Name

GUIDO DU BOULAY VILLAX

Funtion

Board of □rector's President

Name

LUIS ANTONIO ANDRADE DA SILVA GOMES

Funtion

Board of Director's Member

Name

FILIPE EMANUEL NOGUEIRA FERREIRA GASPAR

Funtion

Board of Director's Member

 

 

 

SHAREHOLDERS / PARTNERS COMPANIES

 

Trust N°.

1413412

NAME

HOVIONE HOLDING LTD

Address

Aubin House, 11th floor - 171-172 Gloucester Road, Wanchai, Hong Kong SAR

Funtion

Shareholder

Telephone

0085228911836

Fax

0085228910943

 

 

ACTIVITIES  

 

Main CAE

21100- Manufacture of basic pharmaceutical products

BUSINESS DESCRIPTION

Investigação, fabrico e comercialização de produtos farmacêuticos de base, serviços e processos tecnológicos, patentes, marcas, registos e informação na área das ciências da saúde

Type of Clients

Private Companies

Sales Conditions

Credit 30/60/90/120 days

 

 

GEOGRAPHIC DISTRIBUTION OF SALES       

 

INTERNAL MARKET

 

INTERNATIONAL MARKET

YEAR

 

 

EU

 

EXTRA-EU

 

TOTAL

2016

849.500,00

0,58%

35.082.003,47

24,09%

109.684.242,44

75,32%

145.615.745,91

2015

0,00

0,00%

33.908.388,82

26,93%

92.011.682,98

73,07%

125.920.071,80

2014

0,00

0,00%

14.664.728,02

14,84%

84.145.617,10

85,16%

98.810.345,12

2013

0,00

0,00%

14.814.206,74

18,06%

67.232.852,34

81,94%

82.047.059,08

2012

0,00

0,00%

16.094.645,29

19,66%

65.772.391,37

80,34%

81.867.036,66

 

 

GEOGRAPHIC DISTRIBUTION OF PURCHASES

                                                                       

 

INTERNAL MARKET

INTERNATIONAL MARKET

YEAR

 

 

EU

 

EXTRA-EU

 

TOTAL

2016

21.633.219,17

36,78%

15.254.515,52

25,94%

21.926.029,13

37,28%

58.813.763,82

2015

19.576.057,55

34,51%

10.273.648,08

18,11%

26.882.797,60

47,39%

56.732.503,23

2014

16.543.317,64

34,34%

8.718.831,11

18,10%

22.907.218,96

47,56%

48.169.367,71

2013

13.823.588,27

35,54%

7.731.930,12

19,88%

17.342.067,35

44,58%

38.897.585,74

2012

16.840.835,45

35,96%

8.677.001,64

18,53%

21.309.063,91

45,51%

46.826.901,00

 

 

TRADE MARKS

 

Hovione

 

 

BANKS AND FINANCIAL INSTITUTIONS

 

CAIXA GERAL DE DEPOSITOS, SA

Loures

BANCO BPI, SA

Praça do Município - Lisboa

MILLENNIUM BCP

Avenida Estados Unidos da América - Lisboa

BANCO SANTANDER TOTTA SA

Lisboa - Rua Áurea

BANCO BILBAO VIZCAYA ARGENTARIA (PORTUGAL), SA  

Avenida da Liberdade - Lisboa

 

INCIDENTS

 

INSOLVENCIES / REVITALIZATION PROCESSES

 

NO

 

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

 

SUMMARY OF CLAIMS (LAST 5 YEARS)

 

YEAR

QUANTITY

TOTAL

 

 

€

2017

2

9.571,20

2015

2

37.561,03

Total

4

47.132,23

 

 

LEGAL ACTIONS

 

Date

18-07-2017

Process

8289/17.0T8LRS

Author

Euro M Marketing Interactivo, Lda

Type

Execution Sentence own petition

Amount

7.791,25

Judicial District

Loures - Trib. Jud. Com. de Lisboa Norte

Date

12-05-2017

Process

5167/17.6T8LRS

Author

Generali Companhia de Seguros, S.A.

Type

Summary Execution

Amount

1.779,95

Judicial District

Loures - Trib. Jud. Com. de Lisboa Norte

Date

12-11-2015

Process

15275/15.2T8LRS

Author

Sandro Miguel Mealha Luís

Type

Common Process Action

Amount

30.000,01

Judicial District

Loures - Trib. Jud. Com. de Lisboa Norte

Date

19-03-2015

Process

11843/15.0YIPRT

Author

Euro M Marketing Intercativo Lda

Type

Special Action of Pecuniary Obligation

Amount

7.561,02

Judicial District

Loures - Trib. Jud. Com. de Lisboa Norte

 

 

EMPLOYEES 

                                                           

YEAR

TOTAL

MEN

 

WOMEN

 

2016

824

553

67%

271

33%

2015

686

460

67%

226

33%

2014

629

420

67%

209

33%

2013

623

421

68%

202

32%

2012

604

404

67%

200

33%

 

 

INSURANCE

 

Tranquilidade Seguros SA

 

 

HEAD OFFICE AND INSTALLATIONS

 

Head office Quinta de São Pedro - Lugar de Sete Casas, 2674-506, LOURES, Tel:219829000, Fax:219829388

 

 

SPECIAL INFORMATION

 

Event

General Description

Quality Certification

A titular é uma empresa certificada pela Norma NP EN ISO 14001:2004, no âmbito da Investigação, Desenvolvimento e Fabricação de Produtos Farmacêuticos.

FINANCIALS

 

FINANCIAL DEMONSTRATION SNC

 

BALANCE SHEET SNC

 

COINEUROS

 

 

 

YEAR:2016

 

2016

2015

2014

% VAR.2016/15

ASSET

 

 

 

 

NON-CURRENT ASSETS

 

 

 

 

Tangible fixed assets

95.927.047,59

65.956.666,24

49.728.259,52

45,44%

Investment properties

-

-

-

-

Goodwill

-

-

-

-

Intangible assets

4.144.628,94

3.890.250,68

3.622.466,73

6,54%

Biological assets

-

-

-

-

Financial participations - patrimonial equity method

-

-

-

-

Financial participations - other methods

-

-

-

-

Shareholders/partners

-

-

-

-

Other financial assets

70.760,44

27.696,62

20.030,73

155,48%

Deferred tax assets

1.381.402,59

1.079.603,43

2.746.845,47

27,95%

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

-

-

-

-

Total

101.523.839,56

70.954.216,97

56.117.602,45

43,08%

CURRENT ASSETS

 

 

 

 

Inventories

26.038.613,09

22.882.911,71

19.007.676,90

13,79%

Biological assets

-

-

-

-

Costumers

33.368.961,61

15.940.319,55

17.380.278,82

109,34%

Advances to suppliers

90.249,59

160.450,92

109.086,06

(43,75)%

State and other public entities

3.637.023,16

4.653.684,96

4.751.272,25

(21,85)%

Shareholders/partners

-

-

-

-

Other accounts receivable

29.527.638,41

24.694.710,66

17.848.313,25

19,57%

Deferrals

1.132.147,05

1.314.887,80

961.437,16

(13,90)%

Financial assets held for trading

-

-

8.197.484,85

-

Other financial assets

-

-

-

-

Non-current assets held for sale

-

-

-

-

Other current assets

-

-

-

-

Cashier and bank deposits

17.262.434,05

25.213.317,57

16.474.695,68

(31,53)%

Total

111.057.066,96

94.860.283,17

84.730.244,97

17,07%

TOTAL ASSET

212.580.906,52

165.814.500,14

140.847.847,42

28,20%

SHAREHOLDERS FUNDS AND LIABILITIES SHAREHOLDERS FUNDS

 

 

 

 

Capital

13.750.000,00

13.750.000,00

13.750.000,00

-

Own shares

-

-

-

-

Other shareholders funds instruments

-

-

400.000,00

-

Emission premiuns

-

-

-

-

Legal reserves

2.750.000,00

2.710.094,44

1.714.760,29

1,47%

Other reserves

(747.051,34)

(1.098.713,55)

-

(32,01)%

Net retained

67.592.265,11

43.339.946,97

24.495.647,09

55,96%

Adjustments on financial assets

-

-

-

-

Revaluation surplus

1.051.342,88

1.073.479,36

1.041.344,17

(2,06)%

Other shareholders funds changes

1.771.184,47

1.832.683,86

1.565.725,12

(3,36)%

Total

86.167.741,12

61.607.491,08

42.967.476,67

39,87%

Net income for the period

36.254.220,31

29.272.445,81

19.906.682,97

23,85%

Antecipated dividends

-

-

-

-

TOTAL OF SHAREHOLDERS FUNDS

122.421.961,43

90.879.936,89

62.874.159,64

34,71%

LIABILITY

 

 

 

 

NON-CURRENT LIIABILITIES

 

 

 

 

Provisions

-

-

-

-

Financing obtained

45.000.001,00

45.000.001,00

47.819.166,50

-

Responsability for post-employment beneficts

-

-

-

-

Diferred taxes liabilities

299.346,74

279.108,28

356.220,68

7,25%

Other payable accounts

-

-

-

-

Total

45.299.347,74

45.279.109,28

48.175.387,18

0,04%

CURRENT LIABILITIES

 

 

 

 

Suppliers

16.048.342,24

9.193.810,75

13.256.996,01

74,56%

Advances from costumers

-

-

-

-

State and other public entities

6.397.420,55

957.836,41

904.248,56

567,90%

Shareholders/partners

-

-

-

-

Financing obtained

-

-

1.832.207,51

-

Other payable accounts

15.119.616,59

14.766.917,81

10.189.183,68

2,39%

Deferrals

7.294.217,97

4.736.889,00

3.615.664,84

53,99%

Financial liabilities held for trading

-

-

-

-

Other financial liabilities

-

-

-

-

Non-current liabilities held for sale

-

-

-

-

Other current liabilities

-

-

-

-

Total

44.859.597,35

29.655.453,97

29.798.300,60

51,27%

TOTAL LIABILITIES

90.158.945,09

74.934.563,25

77.973.687,78

20,32%

TOTAL SHAREHOLDERS FUNDS AND LIABILITIES

212.580.906,52

165.814.500,14

140.847.847,42

28,20%

INCOME STATEMENT

 

 

 

 

INCOME AND EXPENSES

 

 

 

 

Sales and services

145.615.745,91

125.920.071,80

98.810.345,12

15,64%

Operating government grants

-

-

-

-

Gains/losses allocated subsidiaries, associates and joint ventures

-

-

-

-

Variation in production inventories

(2.623.689,13)

3.551.995,75

2.210.279,33

(173,87)%

Work for the entity itself

8,48

7,52

16,25

12,77%

Cost of goods sold and materials consumed

27.283.424,12

35.180.460,30

29.918.670,45

(22,45)%

Suppliers and external services

25.255.968,81

21.241.804,62

16.277.971,41

18,90%

Personnel costs

37.536.958,53

31.345.872,06

28.534.269,45

19,75%

Impairment of inventories (losses/revearsals)

494.980,38

(40.869,89)

387.243,29

(1.311,11)%

Impairment of receivables (losses/revearsals)

273.094,97

-

-

-

Provisions (increases/reductions)

-

-

-

-

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

10.033.992,61

13.140.722,43

16.787.657,48

(23,64)%

Other expenses and losses

5.896.684,84

10.690.532,33

8.680.170,77

(44,84)%

Result before depreciation, financing costs  and taxes

56.284.946,22

44.194.998,08

34.009.972,81

27,36%

Expenses/reversals of depreciation and amortization

5.237.075,19

4.669.511,28

4.217.946,01

12,15%

Impairment of investments depreciable/amortizable (losses/reversals)

(55.670,51)

-

1.266.504,28

-

Operating result (before financing costs  and taxes)

51.103.541,54

39.525.486,80

28.525.522,52

29,29%

Interest and similar income obtained

-

-

-

-

interest and similar expenses incurred

1.305.213,32

4.274.433,15

7.848.642,19

(69,46)%

Net before taxes

49.798.328,22

35.251.053,65

20.676.880,33

41,27%

Income tax of the period

13.544.107,91

5.978.607,84

770.197,36

126,54%

Net profit for the period

36.254.220

31 29.272.445

81 19.906.682

97 23,85%

Results of discontinued operations (net of taxes) included in the net icome of the  period

-

-

-

-

 

RATIOS SNC

                                                                                                                                                      

YEAR

2016

2015

2014

TURNOVER RATIOS

 

 

 

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

29,61

32,21

31,66

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

24,04

23,84

20,25

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

24,90

23,25

20,15

EFFICIENCY RATIOS

 

 

 

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

83,64

46,21

64,20

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

99,60

59,15

100,45

Asset Rotation (Sales / Toral Asset) (%)

68,50

75,94

70,15

PRODUCTIVITY RATIOS

 

 

 

Gross Added Value / Employee (#)

114.793,67

110.058,31

100.050,06

Sales / Employee (#)

176.718,14

183.556,96

157.091,17

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

2,52

2,41

2,21

SHORT TERM RATIOS

 

 

 

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

2,48

3,20

2,84

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

1,90

2,43

2,21

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

0,38

0,85

0,55

MEDIUM LONG TERM RATIOS

 

 

 

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

57,59

54,81

44,64

Solvability(Shareholders Funds / Total Liabilities) (%)

135,78

121,28

80,64

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

49,76

39,58

38,22

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

42,41

45,19

55,36

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

72,99

66,75

56,62

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

270,25

200,71

130,51

OPERATIONAL AND FINANCIAL RISK

 

 

 

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

2,32

2,30

2,42

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

1,03

1,12

1,38

Combined Leverage Level (OLL x FLL) (#)

2,38

2,57

3,33

 

CASH FLOW STATEMENT

 

RUBRICS

2016

2015

PERIODS

CASH FLOWS FROM OPERATIONAL ACTIVITIES

 

 

 

 

 

 

 

Customers receipts

127.474.521,27

130.129.692,16

(2,04)%

Payments to suppliers

51.473.982,88

60.141.436,66

(14,41)%

Payments to employees

36.729.326,06

30.752.706,99

19,43%

Cash at bank generated from operations

39.271.212,33

39.235.548,51

0,09%

Payment/receipt of income tax

(6.469.967,26)

(4.400.189,42)

(47,04)%

Other receipts/payments

2.426.394,07

(8.241.237,48)

129,44%

Cash Flows  from Operational Activities  (A)

35.227.639,14

26.594.121,61

32,46%

CASH FLOWS' INVESTMENT ACTIVITIES

 

 

 

Payments  regarding:

 

 

 

Fixed tangible assets

35.298.856,00

20.158.038,00

75,11%

Intangible assets

754.817,58

651.770,99

15,81%

Financial investments

43.064,11

-

-

Other assets

-

18.916,00

-

Receipts  from:

 

 

 

Fixed tangible assets

6.082,62

1.112,50

446,75%

Intangible assets

-

-

-

Financial investments

1.688,63

112,78

1.397,28%

Other assets

-

11.250,00

-

Investment subsidies

-

-

-

Interest and similar income

-

-

-

Dividends

-

-

-

Cash Flows' Investments  Activities  (B)

(36.088.966,44)

(20.816.249,71)

(73,37)%

CASH FLOWS' INVESTMENT ACTIVITIES

 

 

 

Receipts  from:

 

 

 

Obtained financing

-

59.492.992,81

-

Paying-up of capital and other equity instruments

-

-

-

Coverage of losses

-

-

-

Donations

-

-

-

Other financing operations

327,99

13.526,75

(97,58)%

Payments  regarding:

 

 

 

Obtained financing

-

60.456.111,70

-

Interests and similar expenses

1.414.814,54

2.592.824,19

(45,43)%

Dividends

5.000.000,00

-

-

Capital's redution and other equity instruments

-

400.000,00

-

Other financing operations

-

-

-

Cash Flows' Financing Activities  ©

(6.414.486,55)

(3.942.416,33)

(62,70)%

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

(7.275.813,85)

1.835.455,57

(496,40)%

Effect of exchange differences

(675.069,67)

(1.294.319,00)

47,84%

Cash at bank and its  equivalents  at the start of period

25.213.317,57

24.672.181,00

2,19%

Cash at bank and its  equivalents  at the end of period

17.262.434,05

25.213.317,57

(31,53)%

 

CASH FLOWS

 

 

 

 

MOVIMENTOS DO PERIODO DE 2016

 

 

 

 

RUBRICS

INITIAL BALANCE

DEBITS

CREDITS

FINAL BALANCE

PERIOD'S CARRYING AMOUNT AND MOVEMENTS

 

 

 

 

Cash in hand

2.886,80

12.120,64

12.720,57

2.286,87

Order deposits

24.964.406,69

973.342.922,66

981.047.182,17

17.260.147,18

Other bank deposits

246.024,08

262.583,42

508.607,50

0,00

Total cash at bank and bank deposits

25.213.317,57

973.617.626,72

981.568.510,24

17.262.434,05

Of which: Bank deposits abroad

-

-

-

0,00

RUBRICS

 

 

 

VALUE

OTHER INFORMATION

 

 

 

 

Receipts  from:

 

 

 

 

Non-life insurance claims

 

 

 

-

Operating subsidies

 

 

 

-

Cash at bank and its equivalents not available for use

 

 

 

-

 

 

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

-

-

0,00

-

-

Investment properties (cost model)

0,00

-

-

0,00

-

-

Investments in progress

55.670,51

-

55.670,51

0,00

-

-

Financial investments

0,00

-

-

0,00

-

-

TOTAL

55.670,51

0,00

55.670,51

0,00

0,00

0,00

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

IN THE PERIOD OR

IN PREVIOUS

PERIODS

VALUE ASSIGNED

VALUE ATTRIBUTED

TO THE PERIOD

VALUE ASSIGNED

IN THE PERIOD OR

IN PREVIOUS

PERIODS

VALUE

ATTRIBUTED TO

THE PERIOD

Grants related to assets/investment:

-

89.797,30

-

0,00

Fixed tangible assets

-

45.381,08

-

0,00

Land and Natural Resources

-

-

-

-

Buildings and other structures

-

2.633,27

-

-

Basic equipment

-

42.704,71

-

-

Transport equipment

-

-

-

-

Office equipment

-

43,10

-

-

Biological equipment

-

-

-

-

Others

-

-

-

-

Intangible assets

-

44.416,22

-

0,00

Development projects

-

44.416,22

-

-

Computer programmes

-

-

-

-

Industrial property

-

-

-

-

Others

-

-

-

-

Other assets

-

-

-

-

Grants related to income / operating

-

-

-

-

Value of repayments in the period:

-

0,00

-

0,00

Grants related to assets/investment

-

-

-

-

Grants related to income / operating

-

-

-

-

TOTAL

-

89.797,30

-

0,00

 

IMPAIRMENT LOSSES IN FINANCIAL ASSETS AT COST OR AT AMORTIZED COST

 

 

MOVIMENTOS DO PERIODO DE 2016

RUBRICS

IMPAIRMENT LOSSES

IMPAIRMENT LOSSES

TOTAL

                                                        

 

REVERSALS

 

Receivable debts from customers

273.094,97

-

273.094,97

Other receivables

-

-

0,00

Equity instruments and other securities

-

-

0,00

Others

-

-

0,00

TOTAL

273.094,97

0,00

273.094,97

 

DEBTS REGISTERED AS DOUBTFUL

 

RUBRICS

VALUE

Regarding insolvency and company recovery procedures or enforcement procedures

-

Claimed in court

-

In arrears:

273.094,97

Over six months and up to twelve months

168.562,31

Over twelve months and up to eighteen months

-

Over eighteen months and up to twenty four months

104.532,66

Over twenty four months

-

TOTAL

273.094,97

 

EMPLOYEE BENEFITS, COMPANY EMPLOYEES AND PERSONNEL COSTS

 

 

 

AVERAGE NUMBER OF

AVERAGE NUMBER OF

RUBRICS

 

 

 

EMPLOYEES

HOURS WORKED

Company employees, paid and unpaid

824

1.713.920

Paid company employees

824

1.713.920

Company UNPAID employees

0

0

Company employees, by type of working hours

 

 

Full time company employees

824

1.713.920

Of which: Full time company employees

824

1.713.920

Part time company employees

0

0

Of which: Part time company employees

0

0

Company employees, by gender:

 

 

Men

553

1.150.240

Women

271

563.680

Company employees, of which:

 

 

Company employees assigned to Research and Development

249

-

Service providers

5

5.200

People placed through temporary employment agencies

16

-

 

STAFF COSTS

 

RUBRICS

VALUE

Staff costs

37.536.958,53

Governance Bodies Remuneration

1.047.641,41

Of which: Profit-sharing

333.361,00

Employees remuneration

27.381.419,94

Of which: Profit-sharing

23.502,07

Post-employment benefits

0,00

Pension premiums

-

Other benefits

-

Of which:

 

For defined contribution plans  - corporate bodies

-

For defined contribution plans  - others

-

Compensations

395.207,27

Charges on remunerations

4.828.604,72

Insurance for accidents at work and professional diseases

53.912,47

Social security expenses

2.413.654,94

Other staff costs

1.416.517,78

Of which:

 

Expenditure on education

661.256,93

Expenditure on uniforms

577.980,70

 

INFORMATION BY GEOGRAPHIC MARKETS

 

 

 

 

 

 

GEOGRAPHIC MARKETS

 

 

RUBRICS

INTERNAL

EU

EXTRA-EU

TOTAL

Sales

849.500,00

29.634.230,38

78.274.476,72

108.758.207,10

Services provided

-

5.447.773,09

31.409.765,72

36.857.538,81

Purchases

3.258.461,90

12.352.624,34

17.946.708,77

33.557.795,01

Supplies and external services

18.374.757,27

2.901.891,18

3.979.320,36

25.255.968,81

Acquisition of fixed tangible assets

20.541.066,70

12.755.508,21

1.506.994,56

34.803.569,47

Acquisition of investment properties

-

-

-

0,00

Acquisition of intangible assets

668.796,21

17.763,50

68.257,87

754.817,58

Supplementary income:

48.468,84

8.838,61

1.961.865,64

2.019.173,09

Social services

38.668,57

-

-

38.668,57

Equipment rental

-

-

-

0,00

Studies, projects and technological assistance

-

-

-

0,00

Royalities

-

8.838,61

1.719.399,42

1.728.238,03

Others

9.800,27

-

242.466,22

252.266,49

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

33.642.056,58

15.940.319,55

111,05%

Trade notes receivable

-

-

-

Advances received from customers

-

-

-

SUPPLIERS

 

 

 

Trade accounts payable

14.736.093,58

8.647.245,32

70,41%

Trade notes payable

-

-

-

Trade accounts payable - unchecked invoices

1.312.248,66

546.565,43

140,09%

Advances to suppliers

90.249,59

160.450,92

(43,75)%

STAFF

 

 

 

Payable remunerations

377,30

-

-

Advanced payments

1.491,06

3.738,49

(60,12)%

Bonds

-

-

-

Other operations

-

-

-

STATE AND OTHER PUBLIC SECTOR INSTITUTIONS

 

 

 

Income Tax

-

2.044.110,53

-

Deductible IVA (debt cumulative amounts)

27.839.780,03

21.645.189,15

28,62%

Paid IVA (credit cumulative amounts)

9.572.234,61

3.998.019,79

139,42%

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

1.207.110,37

-

-

additional income - Debtors

245.373,13

676.134,21

(63,71)%

additional expenses - Creditors

14.314.946,11

12.289.834,04

16,48%

Deferred tax assets

1.381.402,59

1.079.603,43

27,95%

Deferred tax liabilities

299.346,74

279.108,28

7,25%

Unreleased subscriptions - Creditors

-

-

-

Advances received on account of sales

-

-

-

OTHER DEBTORS AND CREDITORS

 

 

 

Other debtors

28.073.644,92

24.014.837,96

16,90%

Other creditors

-

-

-

EXPENSE ACCOUNTS

 

 

 

RUBRICS

2016

2015

PERIODS

Supplies and external services

25.255.968,81

21.241.804,62

18,90%

Subcontracts

9.228,18

4.703,90

96,18%

Specialized services

12.712.388,01

11.358.776,18

11,92%

Specialized works

6.251.499,42

5.684.279,42

9,98%

Of which: Payments  to workers  placed through agencies

340.390,37

337.908,61

0,73%

Advertising and promotion

643.274,93

462.040,54

39,22%

Surveillance and security

201.484,46

131.289,84

53,47%

Fees

439.517,43

583.223,48

(24,64)%

Comissions

79.444,97

53.942,29

47,28%

Maintenance and repairs

5.097.166,80

4.443.862,49

14,70%

Others

-

138,12

-

Materials

4.161.073,71

3.124.511,63

33,18%

Fast wear tools and utensils

2.787.037,10

2.160.318,39

29,01%

Books and technical documentation

83.487,11

134.707,46

(38,02)%

Office material

220.201,52

156.565,46

40,65%

Gift items

13.410,86

5.051,52

165,48%

Others

1.056.937,12

667.868,80

58,26%

Energy and fluids

2.816.831,00

2.625.593,45

7,28%

Electricity

1.802.615,63

1.645.794,25

9,53%

Fuels

647.932,16

673.218,38

(3,76)%

Water

366.283,21

306.580,82

19,47%

Others

-

0,00

-

Travel, lodging and transportation

1.891.834,80

1.624.038,23

16,49%

Travel and lodging

1.333.130,35

1.195.679,25

11,50%

Transport of personnel

33.611,54

37.134,28

(9,49)%

Transport of goods

525.092,91

391.224,70

34,22%

Others

-

0,00

-

Different services

3.664.613,11

2.504.181,23

46,34%

Rents and leases

1.955.594,54

1.234.733,49

58,38%

Of which: Rents  from land

-

-

-

Communication

330.507,33

239.313,91

38,11%

Insurance

564.948,95

488.119,71

15,74%

Royalties

-

-

-

Litigation and Notaries

3.701,40

2.291,57

61,52%

Representation expenses

14.304,47

20.177,26

(29,11)%

Cleaning, hygiene and comfort

412.951,21

216.541,77

90,70%

Other services

382.605,21

303.003,52

26,27%

 

 

DELIBERATION OF APPROVAL OF ACCOUNTS

 

Were the financial year's  accounts  approved?

 

YES

 

Data da Aprovação: 30-06-2017 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

103.846.485,42

72.612.392,78

Allocated results / Available profits

0,00

0,00

Percentages or bonuses to managing bodies

-

-

Ditto to staff

-

-

Reserves

-

39.905,56

Coverage of losses

-

-

7. Others

-

-

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

103.846.485,42

72.572.487,22

 

 

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?

 

Página 20 de 21

 

 

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: 189038527

 

Was  the Legal certification of accounts  issued?

 

YES

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.66

UK Pound

1

INR 90.65

Euro

1

INR 79.70

Euro

1

INR 80.03

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

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.