3decades

MIRA INFORM REPORT

Report No. :	494378
Report Date :	06.03.2018

IDENTIFICATION DETAILS

Name :	FUNDIVISA SA

Registered Office :	Poligono Do Pousadoiro, Parcela 7 - Vilagarcia De Arousa - 36600 – Pontevedra

Country :	Spain

Financials (as on) :	2016

Date of Incorporation :	20.12.2005

Legal Form :	Public Company

Line of Business :	The subject is engaged in the smelting of metal materials of all kinds, mainly copper, bronze, nickel, aluminium, for any kind of industrial process. sale of metal parts with or without foundry end, as well as scrap and waste.

No. of Employees :	80 [2016]

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	Slow

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)

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 a prolonged recession that began in 2008 in the wake of the global financial crisis, Spain marked the fourth full year of positive economic growth in 2017, with economic activity surpassing its pre-crisis peak, largely because of increased private consumption. The financial crisis of 2008 broke 16 consecutive years of economic growth for Spain, leading to an economic contraction that lasted until late 2013. In that year, the government successfully shored up its struggling banking sector - heavily exposed to the collapse of Spain’s real estate boom - with the help of an EU-funded restructuring and recapitalization program.

Until 2014, contraction in bank lending, fiscal austerity, and high unemployment constrained 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 16.4% in 2017. High unemployment strained Spain's public finances, as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2010, but Spain gradually reduced the deficit to 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.

Strong export growth helped bring Spain's current account into surplus in 2013 for the first time since 1986 and sustain Spain’s economic growth. Increasing labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have improved Spain’s export competitiveness and generated foreign investor interest in the economy, restoring FDI flows.

In 2017, the Spanish Government’s minority status constrained its ability to implement controversial labor, pension, health care, tax, and education reforms. The European Commission expects the government to meet its 2017 budget deficit target and anticipates that expected economic growth in 2018 will help the government meet its deficit target. Spain’s borrowing costs are dramatically lower since their peak in mid-2012, and increased economic activity has generated a modest level of inflation, at 2% in 2017.

Source : CIA

EXECUTIVE SUMMARY

Name:

FUNDIVISA SA

NIF / Fiscal code:

A36965895

Status:

ACTIVE

Incorporation Date:

20/12/2005

Register Data

Last Published Account Deposit:

2016

Share Capital:

760.000

Localization:

Poligono Do Pousadoiro, Parcela 7 - Vilagarcia De Arousa - 36600 - Pontevedra

Telephone - Fax - Email - Website:

Telephone. 986 566 357 Email. info@fundivisa-propellers.es Website. www.fundivisa-propellers.es

Activity:

NACE:

2454 - Casting of other non-ferrous metals

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

Subsidies:

4 for a total cost of 1403258.17

Quality Certificate:

Payment Behaviour:

According to the agreed terms

Prospects:

Consolidation

Industry situation:

Maturity

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Defaults on debt with Financial Institutions and Large Companies

None

---

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

None

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners

BALIÑO SA

60 %

MECANICA NAVAL-MECANASA SA

15 %

NUÑEZ VIGO SL

15 %

Identification

Social Denomination:

FUNDIVISA SA

NIF / Fiscal code:

A36965895

Corporate Status:

ACTIVE

Start of activity:

2006

Registered Office:

POLIGONO DO POUSADOIRO, PARCELA 7

Locality:

VILAGARCIA DE AROUSA

Province:

PONTEVEDRA

Postal Code:

36600

Telephone:

986 566 357

Fax:

986 566 360

Website:

www.fundivisa-propellers.es

Email:

info@fundivisa-propellers.es

Interviewed Person:

Data obtained through indirect sources given the impossibility to contact mr.: Miguel Fernández the only authorized person to disclose information

Activity

NACE:

2454

Corporate Purpose:

THE SUBJECT IS ENGAGED IN THE SMELTING OF METAL MATERIALS OF ALL KINDS, MAINLY COPPER, BRONZE, NICKEL, ALUMINIUM, FOR ANY KIND OF INDUSTRIAL PROCESS. SALE OF METAL PARTS WITH OR WITHOUT FOUNDRY END, AS WELL AS SCRAP AND WASTE.

Additional Information:

Metal Smelting, mainly helixes, shovels, and cores for marine propelling

Additional Address:

Registered officem offices and premises located at the heading address.

Franchise:

Import / export:

EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2016

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

Chronological Summary

Year

Act

2006

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

2007

Accounts deposit (year 2006) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Change of Social address (1) Statutory Modifications (1)

2008

Accounts deposit (year 2007)

2009

Accounts deposit (year 2008) Dividends Payment (1)

2010

Accounts deposit (year 2009) Appointments/ Re-elections (1) Dividends Payment (1)

2011

Accounts deposit (year 2010) Dividends Payment (1)

2012

Accounts deposit (year 2011)

2013

Accounts deposit (year 2012) Cessations/ Resignations/ Reversals (1)

2014

Appointments/ Re-elections (1)

2015

Accounts deposit (year 2013, 2014)

2016

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

2017

Accounts deposit (year 2016) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Other Concepts/ Events (2)

Breakdown of Owners' Equity

Registered Capital:

760.000

Paid up capital:

760.000

Updated Evolution of the Subscribed and Paid-in Capital

wordml://1078

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

10/01/2006

Company Formation

760.000

190.000

760.000

190.000

26/06/2009

Capital call payment

---

532.000

760.000

722.000

25/06/2010

Capital call payment

---

19.000

760.000

741.000

27/07/2011

Capital call payment

---

19.000

760.000

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

PRESIDENT

GARCIA COSTAS JOSE

07/09/2017

VICE CHAIRMAN

PEREZ COSTAS FERNANDO

07/09/2017

MEMBER OF THE BOARD

GARCIA COSTAS JOSE

07/09/2017

MEIJIDE GAYOSO PABLO

07/09/2017

GARCIA FERNANDEZ OSCAR DANIEL

07/09/2017

PEREZ COSTAS FERNANDO

07/09/2017

JOINT CHIEF EXECUTIVE OFFICER

GARCIA COSTAS JOSE

07/09/2017

PEREZ COSTAS FERNANDO

07/09/2017

PROXY

MEIJIDE GAYOSO PABLO

18/10/2007

SECRETARY

GARCIA FERNANDEZ OSCAR DANIEL

07/09/2017

ACCOUNTS' AUDITOR / HOLDER

EUDITA-AUDITEC TECNICOS AUDITORES SL

19/05/2017

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

AUDITORIA TECNICA CONTABLE SOCIEDAD LIMITADA PROFE

ACCOUNTS' AUDITOR / HOLDER

27/06/2014

EUDITA-AUDITEC TECNICOS AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

27/06/2014

ACCOUNTS' AUDITOR / HOLDER

12/07/2016

EUDITA-AUDITEC TECNICOS AUDITORES SOCIEDAD LIMITAD

ACCOUNTS' AUDITOR / HOLDER

12/07/2016

ACCOUNTS' AUDITOR / HOLDER

19/05/2017

GARCIA COSTAS JOSE

SINGLE ADMINISTRATOR

11/10/2007

MEMBER OF THE BOARD

28/08/2013

MEMBER OF THE BOARD

07/09/2017

JOINT CHIEF EXECUTIVE OFFICER

28/08/2013

JOINT CHIEF EXECUTIVE OFFICER

07/09/2017

PRESIDENT

28/08/2013

PRESIDENT

07/09/2017

GARCIA FERNANDEZ OSCAR DANIEL

MEMBER OF THE BOARD

28/08/2013

MEMBER OF THE BOARD

07/09/2017

SECRETARY

28/08/2013

SECRETARY

07/09/2017

MEIJIDE GAYOSO PABLO

MEMBER OF THE BOARD

28/08/2013

MEMBER OF THE BOARD

07/09/2017

PEREZ COSTAS FERNANDO

MEMBER OF THE BOARD

28/08/2013

MEMBER OF THE BOARD

07/09/2017

JOINT CHIEF EXECUTIVE OFFICER

28/08/2013

JOINT CHIEF EXECUTIVE OFFICER

07/09/2017

VICE CHAIRMAN

28/08/2013

VICE CHAIRMAN

07/09/2017

PREGO DORCA RAMON

MEMBER OF THE BOARD

28/08/2013

MEMBER OF THE BOARD

14/07/2016

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

Probability of default

> Estimated Probability of Default for the next 12 months: 1.281 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

245 Casting of metals

wordml://2234

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 84.00% of the companies of the sector FUNDIVISA 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 1,281%.

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

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

Link List

IS RELATED WITH:

3 Entities

SHAREHOLDERS:

3 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

BALIÑO SA

PONTEVEDRA

MECANICA NAVAL-MECANASA SA

PONTEVEDRA

NUÑEZ VIGO SL

PONTEVEDRA

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

| |

EMENASA INDUSTRIA Y AUTOMATISMO SA

PONTEVEDRA

JOSE GARCIA COSTAS SL

PONTEVEDRA

IS RELATED WITH

VICUS DESARROLLOS TECNOLOGICOS SL

PONTEVEDRA

Turnover

Total Sales 2016

10.375.883,46

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

Estimated Balance

ESTIMATED FIGURES 2017 -NON CURRENT ASSETS 7.933.000 Euro/s -CURRENT ASSETS 6.375.000 Euro/s -NET EQUITY 6.081.000 Euro/s -NON CURRENT LIABILITIES 5.549.000 Euro/s -CURRENT LIABILITIES 2.678.000 Euro/s -TOTAL ASSETS AND LIABILITIES 14.308.000 Euro/s -SALES 14.000.000 Euro/s

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2016

Normales

May 2017

2015

Normales

July 2016

2014

Normales

July 2015

2013

Normales

July 2015

2012

Normales

August 2013

2011

Normales

October 2012

2010

Normales

September 2011

2009

Normales

August 2010

2008

Normales

October 2009

2007

Normales

November 2008

2006

Normales

July 2007

2005

Normales

July 2006

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

> Balance en formato Mixto de acuerdo al Nuevo Plan General Contable 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, such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2016

2015

2014

2013

2012

A) NON-CURRENT ASSETS: 11000

5.880.292,00

5.321.194,00

7.426.516,00

8.295.347,00

8.698.021,00

I. Intangible fixed assets : 11100

89.435,00

46.748,00

55.823,00

10.952,00

27.568,00

1. Development: 11110

0,00

2. Concessions: 11120

0,00

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

1.142,00

2.285,00

3.428,00

4.570,00

5.713,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

88.292,00

44.463,00

52.396,00

6.381,00

21.855,00

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

5.593.048,00

5.043.861,00

6.262.550,00

7.039.106,00

7.338.785,00

1. Land and buildings: 11210

2.853.141,00

2.358.069,00

2.387.970,00

2.431.209,00

2.437.825,00

2. Technical installations and other tangible fixed assets: 11220

2.646.232,00

2.685.792,00

3.874.580,00

4.405.781,00

4.900.960,00

3. Tangible asset in progress and advances: 11230

93.675,00

0,00

202.116,00

0,00

III. Real estate investment: 11300

0,00

1. Land: 11310

0,00

2. Buildings: 11320

0,00

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

0,00

1. Equity instruments: 11410

0,00

2. Credits to businesses: 11420

0,00

3. Debt securities: 11430

0,00

4. Derivatives : 11440

0,00

5. Other financial assets : 11450

0,00

6. Other investments: 11460

0,00

V. Long-term financial investments: 11500

29.330,00

25.730,00

1.048.007,00

1.185.154,00

1.331.668,00

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

29.330,00

25.730,00

1.048.007,00

1.185.154,00

1.331.668,00

6. Other investments: 11560

0,00

VII. Non-current trade debts : 11700

0,00

VI. Assets for deferred tax : 11600

168.480,00

204.856,00

60.136,00

0,00

B) CURRENT ASSETS: 12000

4.725.203,00

7.643.481,00

6.394.840,00

5.186.581,00

5.626.232,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

2.234.486,00

3.235.472,00

1.607.521,00

631.900,00

1.587.401,00

1. Commercial: 12210

0,00

2. Primary material and other supplies: 12220

804.486,00

1.695.384,00

1.014.266,00

328.064,00

871.828,00

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

0,00

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

0,00

3. Work in progress: 12230

1.430.000,00

1.539.779,00

593.256,00

303.836,00

715.573,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

1.430.000,00

1.539.779,00

593.256,00

303.836,00

715.573,00

4. Finished goods: 12240

0,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

0,00

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

0,00

6. Advances to suppliers: 12260

0,00

308,00

0,00

III. Trade debtors and others receivable accounts: 12300

2.145.866,00

4.272.025,00

4.271.078,00

3.773.589,00

3.666.705,00

1. Trade debtors / accounts receivable: 12310

1.579.473,00

3.613.937,00

3.595.485,00

2.741.616,00

2.324.133,00

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

0,00

b) Customers for sales and provisions of services : 12312

1.579.473,00

3.613.937,00

3.595.485,00

2.741.616,00

2.324.133,00

2. Customers, Group companies and associates : 12320

419.401,00

463.311,00

409.319,00

908.763,00

1.237.878,00

3. Other accounts receivable: 12330

0,00

4. Personnel: 12340

0,00

5. Assets for deferred tax: 12350

32.468,00

0,00

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

114.524,00

194.777,00

266.274,00

123.211,00

104.694,00

7. Called up share capital: 12370

0,00

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

0,00

1. Equity instruments: 12410

0,00

2. Credits to businesses: 12420

0,00

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

6.000,00

0,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

6.000,00

0,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

0,00

VII. Cash and other equivalent liquid assets : 12700

338.851,00

135.984,00

516.241,00

781.093,00

372.126,00

1. Treasury: 12710

338.851,00

135.984,00

516.241,00

781.093,00

372.126,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

10.605.496,00

12.964.675,00

13.821.356,00

13.481.928,00

14.324.253,00

ORIGINAL

Liabilities and Net Worth

2016

2015

2014

2013

2012

A) NET WORTH: 20000

4.507.491,00

4.539.885,00

4.202.563,00

3.215.766,00

3.037.302,00

A-1) Shareholders' equity: 21000

4.031.936,00

3.964.581,00

3.527.509,00

2.440.963,00

2.162.749,00

I. Capital: 21100

760.000,00

1. Registered capital : 21110

760.000,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

3.211.682,00

2.415.247,00

932.468,00

669.255,00

574.206,00

1. Legal and statutory: 21310

152.000,00

147.057,00

120.235,00

110.731,00

2. Other reserves: 21320

2.936.679,00

2.268.190,00

785.411,00

549.019,00

463.475,00

3. Revaluation reserves: 21330

0,00

2. Capitalisation Reserves: 21350

123.004,00

0,00

IV. (Common stock equity): 21400

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

733.495,00

VII. Result of the period: 21700

60.254,00

789.334,00

1.101.546,00

278.214,00

95.049,00

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

475.555,00

575.304,00

675.054,00

774.803,00

874.553,00

B) NON-CURRENT LIABILITIES: 31000

4.112.660,00

4.547.657,00

5.866.733,00

6.351.815,00

7.410.492,00

I. Long-term provisions: 31100

0,00

77.751,00

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

0,00

77.751,00

II Long-term creditors: 31200

3.911.855,00

4.304.102,00

5.540.199,00

5.796.273,00

6.143.704,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

3.731.855,00

4.094.102,00

4.388.670,00

4.485.522,00

4.656.707,00

3. Creditors from financial leasing: 31230

0,00

34.051,00

17.025,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

180.000,00

210.000,00

1.117.479,00

1.293.726,00

1.469.972,00

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

0,00

40.228,00

226.487,00

817.233,00

IV. Liabilities for deferred tax: 31400

200.805,00

243.555,00

286.305,00

329.055,00

371.805,00

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

1.985.344,00

3.877.133,00

3.752.060,00

3.914.346,00

3.876.458,00

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

0,00

II. Short-term provisions: 32200

0,00

1. Provisions from greenhouse gas emission allowance: 32210

0,00

2. Other provisions: 32220

0,00

III. Short-term creditors : 32300

851.356,00

1.586.442,00

941.384,00

1.665.403,00

1.897.028,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

744.752,00

1.519.516,00

756.622,00

1.441.438,00

1.710.746,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

106.604,00

66.926,00

184.762,00

223.965,00

186.282,00

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

0,00

146.031,00

476.213,00

339.065,00

V. Trade creditors and other accounts payable: 32500

1.133.989,00

2.290.691,00

2.664.645,00

1.772.730,00

1.640.365,00

1. Suppliers: 32510

821.856,00

1.596.141,00

1.596.894,00

1.227.909,00

902.156,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

821.856,00

1.596.141,00

1.596.894,00

1.227.909,00

902.156,00

2. Suppliers, Group companies and associates: 32520

70.191,00

42.630,00

69.147,00

63.442,00

74.558,00

3. Other creditors: 32530

133.753,00

341.509,00

423.039,00

224.523,00

328.138,00

4. Personnel (remuneration due): 32540

68,00

0,00

59.143,00

5. Liabilities for current tax: 32550

0,00

213.473,00

376.803,00

138.828,00

4.929,00

6. Other accounts payable to Public Administrations.: 32560

106.801,00

96.938,00

198.762,00

118.028,00

271.440,00

7. Advances from clients: 32570

1.320,00

0,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

10.605.496,00

12.964.675,00

13.821.356,00

13.481.928,00

14.324.253,00

ORIGINAL

Profit and Loss

2016

2015

2014

2013

2012

1. Net turnover: 40100

10.375.883,00

16.478.595,00

17.845.858,00

12.493.915,00

9.221.654,00

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

-109.779,00

755.385,00

289.420,00

-411.737,00

113.935,00

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

0,00

4. Supplies : 40400

-5.933.732,00

-10.200.622,00

-10.015.037,00

-7.660.969,00

-5.230.344,00

5. Other operating income: 40500

51.691,00

162.766,00

245.414,00

189.498,00

85.755,00

6. Personnel costs: 40600

-2.810.138,00

-3.278.242,00

-3.165.077,00

-2.289.624,00

-1.964.799,00

7. Other operating costs: 40700

-765.828,00

-964.602,00

-1.298.564,00

-887.800,00

-753.619,00

8. Amortisation of fixed assets: 40800

-631.891,00

-1.722.024,00

-1.902.711,00

-801.808,00

-957.207,00

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

142.500,00

135.491,00

10. Excess provisions : 41000

0,00

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

0,00

12. Negative difference in combined businesses: 41200

0,00

13. Other results : 41300

-4.667,00

-5.043,00

-12.569,00

-39.194,00

-126.119,00

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

314.038,00

1.368.713,00

2.129.233,00

734.781,00

524.747,00

14. Financial income : 41400

0,00

90,00

17,00

54,00

7.405,00

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

0,00

b) Other financial income: 41490

0,00

90,00

17,00

54,00

7.405,00

15. Financial expenditure: 41500

-233.194,00

-255.452,00

-308.733,00

-341.634,00

-396.371,00

16. Changes in fair value of financial instruments : 41600

0,00

17. Exchange rate differences : 41700

0,00

8,00

-84,00

0,00

2,00

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

0,00

19. Other financial income and expenditure: 42100

0,00

a) Incorporation of financial expenditure to assets: 42110

0,00

b) Financial income from arrangement with creditors: 42120

0,00

c) Other income and expenditure: 42130

0,00

B) FINANCIAL REVENUE (14 + 15 + 16 + 17 + 18 + 19) : 49200

-233.194,00

-255.354,00

-308.799,00

-341.580,00

-388.963,00

C) NET RESULT BEFORE TAXES (A + B) : 49300

80.845,00

1.113.359,00

1.820.434,00

393.201,00

135.784,00

20. Income taxes: 41900

-20.591,00

-324.025,00

-718.888,00

-114.987,00

-40.735,00

D) RESULT OF THE PERIOD (C + 20) : 49500

60.254,00

789.334,00

1.101.546,00

278.214,00

95.049,00

> 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, such criteria using its own methodology. 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:

5.711.812,00

5.116.338,00

7.366.380,00

8.235.211,00

8.698.021,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

89.435,00

46.748,00

55.823,00

10.952,00

27.568,00

III. Tangible fixed assets:

5.593.048,00

5.043.861,00

6.262.550,00

7.039.106,00

7.338.785,00

IV. Financial investments:

29.330,00

25.730,00

1.048.007,00

1.185.154,00

1.331.668,00

V. Own shares:

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

4.893.683,00

7.848.337,00

6.454.975,00

5.246.717,00

5.626.232,00

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

0,00

II. Stocks:

2.234.486,00

3.235.472,00

1.607.521,00

631.900,00

1.587.401,00

III. Debtors:

2.314.346,00

4.476.882,00

4.331.213,00

3.833.725,00

3.666.705,00

IV. Short-term investments:

6.000,00

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

338.851,00

135.984,00

516.241,00

781.093,00

372.126,00

VII. Prepayments and accrued income:

0,00

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

10.605.496,00

12.964.675,00

13.821.356,00

13.481.928,00

14.324.253,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2016

2015

2014

2013

2012

A) EQUITY:

4.031.936,00

3.964.581,00

3.527.509,00

2.440.963,00

2.162.749,00

I. Subscribed capital:

760.000,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

3.211.682,00

2.415.247,00

932.468,00

669.255,00

574.206,00

a) Differences for capital adjustment to euros:

0,00

b) Remaining Reserves:

3.211.682,00

2.415.247,00

932.468,00

669.255,00

574.206,00

V. Profit or loss brought forward:

0,00

733.495,00

VI. Profit or loss for the financial year:

60.254,00

789.334,00

1.101.546,00

278.214,00

95.049,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

475.555,00

575.304,00

675.054,00

774.803,00

874.553,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

77.751,00

D) LONG TERM LIABILITIES:

4.112.660,00

4.547.657,00

5.866.733,00

6.351.815,00

7.332.742,00

E) SHORT TERM CREDITORS:

1.985.344,00

3.877.133,00

3.752.060,00

3.914.346,00

3.876.458,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

10.605.496,00

12.964.675,00

13.821.356,00

13.481.928,00

14.324.253,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2016

2015

2014

2013

2012

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

10.509.820,00

15.994.624,00

17.132.243,00

12.547.754,00

9.355.259,00

A.1. Operating consumption:

6.043.511,00

9.445.237,00

9.725.618,00

8.072.706,00

5.116.409,00

A.2. Staff Costs:

2.810.138,00

3.278.242,00

3.165.077,00

2.289.624,00

1.964.799,00

a) Wages, salaries et al.:

2.112.308,00

2.464.170,00

2.379.107,00

1.721.052,00

1.489.229,00

b) Social security costs:

697.829,00

814.072,00

785.970,00

568.573,00

475.570,00

A.3. Depreciation expense:

631.891,00

1.722.024,00

1.902.711,00

801.808,00

957.207,00

A.4. Variation of trade provisions and losses of unrecovered receivables:

0,00

A.5. Other operating charges:

765.828,00

964.602,00

1.298.564,00

887.800,00

753.619,00

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

176.206,00

1.231.256,00

1.999.303,00

631.475,00

515.374,00

A.6. Financial and similar charges:

233.194,00

255.452,00

308.733,00

341.634,00

396.371,00

a) Due to liabilities with companies of the group:

44.832,00

49.111,00

59.354,00

65.679,00

83.509,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts:

188.362,00

206.341,00

249.379,00

275.955,00

312.862,00

d) Losses from financial investments:

0,00

A.7. Financial investment provision change:

0,00

A.8. Exchange losses:

0,00

84,00

0,00

A.II. POSITIVE FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8):

0,00

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

0,00

975.902,00

1.690.503,00

289.896,00

126.412,00

A.9. Changes in provisions for intangible, tangible and securities portfolio:

0,00

A.10. Losses from tangible and intangible fixed assets and portfolio:

0,00

A.11. Losses from transactions with own shares and debentures:

0,00

A.12. Extraordinary expenses:

4.667,00

5.043,00

12.569,00

39.194,00

126.119,00

A.13. Prior year expenses and losses:

0,00

A.IV. EXTRAORDINARY PROFIT (B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13):

137.833,00

137.457,00

129.930,00

103.305,00

9.372,00

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

80.845,00

1.113.359,00

1.820.434,00

393.201,00

135.784,00

A.14. Corporation Tax:

20.591,00

324.025,00

718.888,00

114.987,00

40.735,00

A.15. Miscellaneous taxes:

0,00

A.VI. FINANCIAL YEAR RESULT (PROFIT) (A.V-A.14-A.15):

60.254,00

789.334,00

1.101.546,00

278.214,00

95.049,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2016

2015

2014

2013

2012

B) INCOME ( B.1 to B.8):

10.570.074,00

16.783.958,00

18.233.788,00

12.825.967,00

9.450.308,00

B.1. Operating income:

10.427.575,00

16.641.360,00

18.091.272,00

12.683.413,00

9.307.409,00

a) Net total sales:

10.375.883,00

16.478.595,00

17.845.858,00

12.493.915,00

9.221.654,00

b) Miscellaneous operating income:

51.691,00

162.766,00

245.414,00

189.498,00

85.755,00

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

0,00

B.2. Financial income:

0,00

90,00

17,00

54,00

7.405,00

a) Companies of the group:

0,00

18,00

3,00

11,00

13,00

b) In associated companies:

0,00

c) Miscellaneous:

0,00

72,00

14,00

44,00

7.393,00

d) Profit on financial investment:

0,00

B.3. Exchange gains:

0,00

8,00

0,00

2,00

B.II. NEGATIVE FINANCIAL RESULTS (A.6+A.7+A.8-B.2-B.3):

233.194,00

255.354,00

308.799,00

341.580,00

388.963,00

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

56.988,00

0,00

B.4. Profit on disposal of both tangible and intangible fixed assets and securities portfolio:

0,00

B.5. Profit on transactions with own shares and debentures:

0,00

B.6. Capital grants transferred to profit and loss:

142.500,00

135.491,00

B.7. Extraordinary income:

0,00

B.8. Income and profit of former financial years:

0,00

B.IV. NEGATIVE EXTRAORDINARY RESULTS (A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8):

0,00

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

0,00

B.VI. FINANCIAL YEAR RESULTS (LOSSES) (B.V+A.14+A.15):

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

80.845,00

1.113.359,00

1.820.434,00

393.201,00

135.784,00

2. Results adjustments.: 61200

722.586,00

1.740.537,00

2.186.377,00

962.110,00

1.433.925,00

a) Fixed Assets Amortization (+).: 61201

631.891,00

1.722.024,00

1.902.711,00

801.808,00

957.207,00

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

0,00

-94.350,00

117.450,00

0,00

19.334,00

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

0,00

-77.751,00

77.751,00

d) Allocation of grants (-).: 61204

-142.500,00

-135.491,00

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

0,00

1.965,00

g) Financial income (-).: 61207

0,00

-90,00

-17,00

-54,00

-7.405,00

h) Financial Expenses (+). : 61208

233.194,00

255.452,00

308.733,00

342.355,00

401.343,00

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

0,00

-2,00

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

0,00

38.252,00

119.224,00

3. Changes in current capital equity.: 61300

2.223.485,00

-1.506.056,00

-1.539.790,00

926.361,00

-264.200,00

a) Stock (+/-).: 61301

1.000.678,00

-1.436.504,00

-984.575,00

955.502,00

-596.096,00

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

2.160.255,00

-1.256,00

-1.091.705,00

-166.553,00

-162.999,00

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

-937.448,00

-162.647,00

653.940,00

138.133,00

499.867,00

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

0,00

94.350,00

-117.450,00

0,00

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

0,00

-720,00

-4.972,00

4. Cash Flows from Other Operating Activities: 61400

-479.332,00

-753.879,00

-800.566,00

-495.540,00

-553.894,00

a) Interest payments (-). : 61401

-233.194,00

-271.106,00

-304.670,00

-342.355,00

-401.343,00

c) Interest collection (+). : 61403

0,00

90,00

17,00

54,00

7.405,00

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

-246.138,00

-482.863,00

-495.913,00

-36.295,00

-35.806,00

e) Other payments (payment collection) (-/+) : 61405

0,00

-116.945,00

-124.151,00

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

2.547.584,00

593.961,00

1.666.455,00

1.786.132,00

751.615,00

6. Payments for investment (-).: 62100

-1.157.051,00

-480.418,00

-1.195.570,00

-449.443,00

-227.803,00

b) Intangible fixed assets. : 62102

-42.687,00

-9.080,00

-65.236,00

-4.540,00

-896,00

c) Fixed assets. : 62103

-1.104.763,00

-471.338,00

-1.130.334,00

-444.868,00

-226.908,00

e) Other financial assets. : 62105

-9.600,00

0,00

-34,00

0,00

7. Divestment payment collection (+). : 62200

0,00

1.022.278,00

137.147,00

0,00

145.154,00

e) Other financial assets. : 62205

0,00

1.022.278,00

137.147,00

0,00

145.154,00

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

-1.788.942,00

-1.180.165,00

-2.961.135,00

-449.443,00

-82.649,00

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

0,00

-733.495,00

0,00

120.150,00

b) Amortization of assets instruments (-). : 63102

0,00

-733.495,00

0,00

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

0,00

120.150,00

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

-1.187.666,00

-782.582,00

-872.883,00

-927.723,00

-579.469,00

a) Issuance : 63201

714.744,00

1.569.910,00

614.706,00

300.000,00

100.000,00

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

714.744,00

1.569.910,00

614.706,00

300.000,00

100.000,00

b) Repayment and amortization of : 63207

-1.902.410,00

-2.352.492,00

-1.487.590,00

-1.227.723,00

-679.469,00

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

-1.851.755,00

-1.135.635,00

-802.158,00

-740.493,00

-109.805,00

3. Debts incurred with companies of the group and affiliates (-). : 63210

0,00

-186.259,00

-512.670,00

-453.947,00

-436.176,00

5. Other debts (-). : 63212

-50.655,00

-1.030.598,00

-172.762,00

-33.283,00

-133.488,00

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

0,00

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

-1.187.666,00

-1.516.077,00

-872.883,00

-927.723,00

-459.319,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

202.867,00

-380.257,00

-264.852,00

408.967,00

209.646,00

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

135.984,00

516.241,00

781.093,00

372.126,00

162.480,00

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

338.851,00

135.984,00

516.241,00

781.093,00

372.126,00

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:

0,02 %

0,09 %

-0,02 %

0,01 %

184,73 %

605,24 %

Net Financial Debt:

5,47

1,71

1,95

1,82

180,60

-5,99

Cash Flow Yield:

0,02 %

0,09 %

-0,03 %

0,01 %

165,22 %

636,43 %

EBITDA over Sales:

7,79 %

8,57 %

17,92 %

8,69 %

-56,54 %

-1,33 %

Profitability

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

3,02 %

7,70 %

10,62 %

7,83 %

-71,60 %

-1,66 %

Total economic profitability:

2,96 %

6,55 %

10,56 %

6,40 %

-71,95 %

2,40 %

Financial profitability:

1,49 %

9,64 %

19,91 %

9,12 %

-92,49 %

5,66 %

Margin:

3,06 %

6,19 %

8,26 %

6,26 %

-62,98 %

-1,15 %

Mark-up:

0,82 %

5,82 %

6,72 %

5,42 %

-87,80 %

7,33 %

Solvency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,17

0,28

0,04

0,25

386,63

11,08

Acid Test:

1,25

1,14

1,15

10,35

-0,38

Working Capital / Investment:

0,26

0,19

0,29

0,18

-11,07

7,49

Solvency:

2,46

1,65

2,02

1,65

21,77

-0,42

Indebtedness

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

1,35

1,06

1,86

1,18

-27,10

-10,05

Borrowing Composition:

2,07

0,63

1,17

0,82

76,61

-23,40

Repayment Ability:

7,55

6,40

2,85

6,92

164,53

-7,57

Warranty:

1,74

1,94

1,54

1,85

13,02

4,99

Generated resources / Total creditors:

0,11

0,14

0,30

0,12

-61,92

13,57

Efficiency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,29

1,49

1,90

1,52

-32,26

-1,93

Turnover of Collection Rights :

4,86

4,73

3,90

4,76

24,75

-0,54

Turnover of Payment Entitlements:

5,81

4,00

5,20

4,03

11,67

-0,78

Stock rotation:

4,59

6,29

4,76

6,45

-3,68

-2,42

Assets turnover:

0,99

1,24

1,29

1,25

-23,30

-0,51

Borrowing Cost:

3,82

1,70

3,03

2,34

26,12

-27,20

> 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:

0,02 %

-0,02 %

-0,01 %

0,03 %

0,02 %

Net Financial Debt:

5,47

1,95

1,53

4,66

5,21

Cash Flow Yield:

0,02 %

-0,03 %

-0,02 %

0,03 %

0,01 %

EBITDA over Sales:

7,79 %

17,92 %

21,87 %

11,47 %

15,97 %

Profitability

2016

2015

2014

2013

2012

Operating economic profitability:

3,02 %

10,62 %

16,77 %

6,29 %

5,01 %

Total economic profitability:

2,96 %

10,56 %

15,40 %

5,45 %

3,72 %

Financial profitability:

1,49 %

19,91 %

31,23 %

11,40 %

4,39 %

Margin:

3,06 %

8,26 %

11,84 %

6,10 %

6,99 %

Mark-up:

0,82 %

6,72 %

10,13 %

3,41 %

2,81 %

Solvency

2016

2015

2014

2013

2012

Liquidity:

0,17

0,04

0,14

0,20

0,10

Acid Test:

1,25

1,14

1,28

1,16

1,04

Working Capital / Investment:

0,26

0,29

0,19

0,09

0,12

Solvency:

2,46

2,02

1,72

1,34

1,45

Indebtedness

2016

2015

2014

2013

2012

Indebtedness level:

1,35

1,86

2,29

3,19

3,60

Borrowing Composition:

2,07

1,17

1,56

1,62

1,89

Repayment Ability:

7,55

2,85

2,47

7,16

7,61

Warranty:

1,74

1,54

1,44

1,31

1,28

Generated resources / Total creditors:

0,11

0,30

0,31

0,11

0,09

Efficiency

2016

2015

2014

2013

2012

Productivity:

1,29

1,90

2,23

1,63

1,75

Turnover of Collection Rights :

4,86

3,90

4,24

3,36

2,54

Turnover of Payment Entitlements:

5,81

5,20

4,35

4,59

3,72

Stock rotation:

4,59

4,76

10,01

19,07

5,54

Assets turnover:

0,99

1,29

1,42

1,03

0,72

Borrowing Cost:

3,82

3,03

3,21

3,33

3,54

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

FARO DE VIGO

01/11/2017

Fundivisa amplía su factoría en O Pousadoiro con una nueva nave de mil metros cuadrados

Companies related

Farodevigo.es

02/06/2016

Fundivisa acepta la bolsa de horas que evita el ERE suspensivo de toda la plantilla

Companies related

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Detail of Subsidies appearing in Balances Memories

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

148.344,52

Notes

Este importe corresponde al imputado en la cuenta de pérdidas y ganancias.

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación.

Status

CONCEDIDA

Amount Granted

177.540,04

Entity

DIRECCION XERAL DE INVESTIGACION

Status

CONCEDIDA

Amount Granted

125.782,75

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

951.590,86

Notes

Importe correspondiente al saldo al final. Los organismos otorgantes son la CONSELLERIA DE INNOVACIÓN E INDUSTRIA, MINISTERIO DE ECONOMÍA Y HACIENDA, INSTITUTO GALEGO DE PROMOCIÓN ECONÓMICA.

Research Summary

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 65.05
UK Pound	1	INR 89.70
Euro	1	INR 80.03
Euro	1	INR 80.22

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

INFORMATION DETAILS

Analysis Done by :	PRI

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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Partners

Identification

Activity

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