3decades

MIRA INFORM REPORT

Report No. :	508798
Report Date :	17.05.2018

IDENTIFICATION DETAILS

Name :	THESIZE SURFACES SOCIEDAD LIMITADA

Registered Office :	C/Ibers 31. Poligono Industrial Cami Fondo, Supoi 8. - Almazora/Almassora - 12550 - Castellon

Country :	Spain

Financials (as on) :	31.12.2016

Date of Incorporation :	26.07.2007

Legal Form :	Private Company

Line of Business :	Subject is engaged in the purchase-sale and lease, except for the financial one

No. of Employees :	149

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 :	Excellent

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)

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:

THESIZE SURFACES SOCIEDAD LIMITADA

NIF / Fiscal code:

B85171023

Status:

ACTIVE

Incorporation Date:

26/07/2007

Last Publication in BORME:

07/02/2017 [Appointments]

Last Published Account Deposit:

2016

Share Capital:

40.610.860

Localization:

C/IBERS 31. POLIGONO INDUSTRIAL CAMI FONDO, SUPOI 8. - ALMAZORA/ALMASSORA - 12550 - CASTELLON

Telephone - Fax - Email - Website:

Telephone. 964 652 233 Email. Info@thesice.es Website. www.thesize.es

Number of Branches

Activity:

NACE:

2332 - Manufacture of bricks, tiles and construction products, in baked clay

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

Subsidies:

3 for a total cost of 89082.82

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:

GLOBAL SURFACES SA

99 %

Enquiry Details

Identification

Social Denomination:

THESIZE SURFACES SOCIEDAD LIMITADA

NIF / Fiscal code:

B85171023

Corporate Status:

ACTIVE

Start of activity:

2007

Registered Office:

C/IBERS 31. POLIGONO INDUSTRIAL CAMI FONDO, SUPOI 8.

Locality:

ALMAZORA/ALMASSORA

Province:

CASTELLON

Postal Code:

12550

Telephone:

964 652 233

Fax:

964 652 209

Website:

www.thesize.es

Email:

Info@thesice.es

Interviewed Person:

La presente información ha sido obtenida a través de fuentes indirectas, ante la negativa por parte de los responsables de la titular de prestar cualquier tipo de colaboración para la confección del presente trabajo.

Branch Offices

Address

Postal Code

City

Province

AVENIDA LOS ROSALES 42 NAV 301

28021

MADRID

Activity

NACE:

2332

Corporate Purpose:

The company is engaged in the purchase-sale and lease, except for the financial one.

Additional Information:

It is also engaged in the manufacture and handling of natural stone and granite.

Additional Address:

The Registered Office, work centre and offices are located at the heading address. The fiscal domicile is located at Avda. de los Rosales, 42 de Madrid.

Franchise:

Import / export:

EXPORTS

Future Perspective:

Consolidation

Industry situation:

Maturity

Number of Employees

Year

No. of employees

Established

Incidentals

2016

149

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

Chronological Summary

Year

Act

2007

Appointments/ Re-elections (1) Company Formation (1)

2008

Accounts deposit (year 2007) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Dividends Payment (1) Increase of Capital (1) Statutory Modifications (1)

2009

Accounts deposit (year 2008) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Dividends Payment (1) Increase of Capital (1)

2010

Appointments/ Re-elections (4) Cessations/ Resignations/ Reversals (3) Change of Social address (1) Statutory Modifications (1)

2011

Accounts deposit (year 2009) Increase of Capital (1) Statutory Modifications (1)

2012

Accounts deposit (year 2010, 2011) Appointments/ Re-elections (3) Capital Reduction (3) Cessations/ Resignations/ Reversals (1) Company Transformation (1) Disapproved accounts (1) Increase of Capital (2) Other Concepts/ Events (1) Reopening of an entry in the Register (1) Statutory Modifications (2)

2013

Accounts deposit (year 2012) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Company Transformation (1) Increase of Capital (1) Statutory Modifications (2)

2014

Accounts deposit (year 2013) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Change of Social Denomination (1) Statutory Modifications (2)

2015

Accounts deposit (year 2014) Appointments/ Re-elections (2)

2016

Accounts deposit (year 2015) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (2)

2017

Accounts deposit (year 2016) Appointments/ Re-elections (2)

Breakdown of Owners' Equity

Registered Capital:

40.610.860

Paid up capital:

40.610.860

Updated Evolution of the Subscribed and Paid-in Capital

wordml://1095

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

23/08/2007

Company Formation

60.200

27/03/2008

Increase of Capital

1.939.800

1.008.696

2.000.000

1.068.896

13/11/2008

Capital call payment

---

931.104

2.000.000

03/03/2009

Increase of Capital

2.000.000

1.000.000

4.000.000

3.000.000

22/05/2009

Capital call payment

---

1.000.000

4.000.000

10/01/2011

Increase of Capital

7.500.000

3.368.750

11.500.000

7.368.750

30/04/2012

Capital Reduction

-131.250

11.368.750

30/04/2012

Capital Reduction

-443.750

10.925.000

30/04/2012

Increase of Capital

14.374.320

25.299.320

20/12/2012

Increase of Capital

3.769.230

29.068.550

21/02/2013

Increase of Capital

11.542.310

40.610.860

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

JOINT MANAGER

DOMUS MARMOLES SL

29/07/2014

DIMORPHANDRA SL

29/07/2014

COMBINED PROXY

ZAFRILLA LOPEZ JUAN CARLOS

08/05/2008

AZNAR ALTABA CELESTINO

08/05/2008

JOINT ATTORNEY

PINA NAVARRO ENRIQUE RAMON

30/01/2017

SANCHEZ MIRA DANIEL

30/01/2017

ESTEVE ROMAN JOSE LUIS

18/11/2010

JOINT ATTORNEY/COMBINED PROXY

ESTEVE ROMAN JESUS

23/07/2010

PROXY

RAMOS ROMERO SILVIA

30/01/2017

REPRESENTATIVE

BEAUS CLIMENT ENRIQUE

14/11/2008

AZNAR ALTABA CELESTINO

14/11/2008

ACCOUNTS' AUDITOR / HOLDER

APLEM CONSULTING SLP

02/02/2012

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

AZNAR ALTABA CELESTINO

MEMBER OF THE BOARD

14/11/2008

BANCO DE VALENCIA SA

MEMBER OF THE BOARD

23/07/2010

BAÑULS PARREÑO DESAMPARADOS

SECRETARY

23/07/2010

ESTEVE ROMAN JESUS

JOINT MANAGER

12/02/2013

JOINT MANAGER

29/07/2014

MEMBER OF THE BOARD

02/02/2012

PRESIDENT

02/02/2012

ESTEVE ROMAN JOSE LUIS

JOINT MANAGER

12/02/2013

JOINT MANAGER

29/07/2014

MEMBER OF THE BOARD

02/02/2012

HERNANDO SAEZ SILVIA

SECRETARY

02/02/2012

INVERSIONES VALENCIA CAPITAL RIESGO SCR SA

MEMBER OF THE BOARD

23/07/2010

MEMBER OF THE BOARD

02/02/2012

VICE CHAIRMAN

02/02/2012

PINA NAVARRO ENRIQUE RAMON

JOINT ATTORNEY

30/01/2017

RAMOS ROMERO SILVIA

PROXY

18/02/2016

PROXY

30/01/2017

SANCHEZ MIRA DANIEL

PROXY

18/08/2015

PROXY

18/02/2016

JOINT ATTORNEY

01/03/2012

JOINT ATTORNEY

18/02/2016

JOINT ATTORNEY

30/01/2017

TOLEDANO GARCIA ROBERTO

SINGLE ADMINISTRATOR

27/03/2008

MEMBER OF THE BOARD

02/02/2012

JOINT ATTORNEY

03/02/2009

COMBINED PROXY

03/02/2009

PRESIDENT

23/07/2010

JOINT ATTORNEY/COMBINED PROXY

23/07/2010

ZAFRILLA LOPEZ JUAN CARLOS

MEMBER OF THE BOARD

14/11/2008

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: 0.155 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

233 Manufacture of clay building materials

wordml://2433

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 THESIZE SURFACES SOCIEDAD LIMITADA 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 0,155%.

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

HAS IN ITS ADMINISTRATION BOARD TO:

2 Entities

IS RELATED WITH:

2 Entities

PARTICIPATES IN:

7 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

GLOBAL SURFACES SA

MADRID

NEOLITH EUROPA SARL (SUIZA)

100

LA NOVA SUPERFICIE, SOCIEDAD LIMITADA, (ITALIA)

STAMINA UNION, SOCIEDAD ANONIMA, (HONG KONG)

100

STONE VOLUTION VERONA, SOCIEDAD LIMITADA, (ITALIA)

PARTICIPATES IN

T&T SUPERFICIES SOCIEDAD LIMITADA

CASTELLON

NATURAL AND SINTERED SURFACES, SOCIEDAD ANONIMA, (REINO UNIDO)

50.01

STONE EVOLUTION VERONA, SOCIEDAD LIMITADA, (ITALIA)

50.1

> Other relationships

Relationship

Entity

Province

Shareholding stake

IS RELATED WITH

| |

DOMUS MARMOLES SL

MADRID

DIMORPHANDRA SL

MADRID

HAS IN ITS ADMINISTRATION BOARD TO

DIMORPHANDRA SL

MADRID

DOMUS MARMOLES SL

MADRID

Turnover

Total Sales 2016

82.306.017,12

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

Estimated Balance

Based on the last two financial statements filed at the Trade Register by the subject, we cannot fully assess its accounting development.

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2016

Normales

September 2017

2015

Normales

October 2016

2014

Normales

September 2015

2013

Normales

November 2014

2012

Normales

September 2013

2011

Normales

November 2012

2010

Normales

September 2012

2009

Normales

January 2011

2008

Normales

October 2009

2007

Normales

October 2008

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, created such criteria using its own methodology. To view details on the methodology.

ORIGINAL

Assets

2016

2015

2014

2013

2012

A) NON-CURRENT ASSETS: 11000

58.343.521,00

48.925.536,00

43.621.370,00

45.055.299,00

34.054.691,00

I. Intangible fixed assets : 11100

373.935,00

288.830,00

164.600,00

151.118,00

82.409,00

1. Development: 11110

0,00

2. Concessions: 11120

0,00

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

70.332,00

66.217,00

55.483,00

42.302,00

2.531,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

303.603,00

222.613,00

109.117,00

108.816,00

79.878,00

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

57.215.945,00

47.901.654,00

42.666.552,00

44.064.227,00

32.533.886,00

1. Land and buildings: 11210

23.910.707,00

20.428.366,00

20.687.256,00

19.354.346,00

15.005.003,00

2. Technical installations and other tangible fixed assets: 11220

29.655.176,00

17.058.459,00

21.551.741,00

23.949.593,00

15.911.866,00

3. Tangible asset in progress and advances: 11230

3.650.063,00

10.414.829,00

427.556,00

760.288,00

1.617.017,00

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

58.765,00

28.165,00

5.000,00

21.301,00

5.000,00

1. Equity instruments: 11410

58.765,00

28.165,00

5.000,00

21.301,00

5.000,00

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

92.837,00

29.577,00

28.296,00

6.380,00

124.322,00

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

92.837,00

29.577,00

28.296,00

6.380,00

124.322,00

6. Other investments: 11560

0,00

VII. Non-current trade debts : 11700

0,00

VI. Assets for deferred tax : 11600

602.039,00

677.310,00

756.921,00

812.273,00

1.309.075,00

B) CURRENT ASSETS: 12000

59.410.464,00

40.004.463,00

28.644.112,00

21.028.086,00

11.626.490,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

13.153.634,00

6.440.949,00

8.193.297,00

2.405.384,00

2.369.171,00

1. Commercial: 12210

111.332,00

68.342,00

50.577,00

27.511,00

21.756,00

2. Primary material and other supplies: 12220

4.424.422,00

2.139.031,00

2.518.041,00

556.010,00

554.661,00

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

0,00

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

4.424.422,00

0,00

3. Work in progress: 12230

0,00

139.016,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

0,00

139.016,00

4. Finished goods: 12240

8.604.673,00

4.233.575,00

5.622.243,00

1.757.527,00

1.651.807,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

8.604.673,00

4.233.575,00

5.622.243,00

1.757.527,00

1.651.807,00

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

0,00

6. Advances to suppliers: 12260

13.207,00

0,00

2.436,00

64.335,00

1.931,00

III. Trade debtors and others receivable accounts: 12300

26.053.720,00

14.244.104,00

8.689.202,00

7.124.060,00

3.338.305,00

1. Trade debtors / accounts receivable: 12310

24.390.086,00

13.325.003,00

7.471.078,00

4.420.840,00

2.808.582,00

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

0,00

b) Customers for sales and provisions of services : 12312

24.390.086,00

13.325.003,00

7.471.078,00

4.420.840,00

2.808.582,00

2. Customers, Group companies and associates : 12320

797.258,00

83.395,00

0,00

3. Other accounts receivable: 12330

106.843,00

5.692,00

15.905,00

0,00

4. Personnel: 12340

450,00

0,00

500,00

6.000,00

5. Assets for deferred tax: 12350

154.174,00

214.222,00

0,00

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

604.909,00

675.841,00

987.996,00

2.488.497,00

523.723,00

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

312.542,00

20.404,00

3.031.828,00

4.965.488,00

1. Equity instruments: 12510

0,00

2. Credits to businesses: 12520

312.157,00

0,00

3. Debt securities: 12530

0,00

4. Derivatives : 12540

0,00

5. Other financial assets : 12550

385,00

20.404,00

3.031.828,00

4.965.488,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

226.083,00

154.778,00

78.366,00

0,00

51.777,00

VII. Cash and other equivalent liquid assets : 12700

19.664.486,00

19.144.229,00

11.662.843,00

8.466.814,00

901.750,00

1. Treasury: 12710

19.664.486,00

17.144.229,00

9.662.843,00

8.466.814,00

901.750,00

2. Other equivalent liquid assets: 12720

0,00

2.000.000,00

0,00

TOTAL ASSETS (A + B) : 10000

117.753.985,00

88.929.999,00

72.265.482,00

66.083.385,00

45.681.182,00

ORIGINAL

Liabilities and Net Worth

2016

2015

2014

2013

2012

A) NET WORTH: 20000

86.738.996,00

63.273.892,00

52.721.606,00

44.133.528,00

41.332.347,00

A-1) Shareholders' equity: 21000

86.738.996,00

63.273.892,00

52.721.606,00

44.133.528,00

41.332.347,00

I. Capital: 21100

40.610.860,00

1. Registered capital : 21110

40.610.860,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

4.593.462,00

III. Reserves: 21300

18.069.570,00

10.944.915,00

2.757.707,00

-43.474,00

1. Legal and statutory: 21310

2.321.989,00

1.266.760,00

4.941,00

2. Other reserves: 21320

15.747.581,00

9.678.155,00

2.752.765,00

-48.415,00

3. Revaluation reserves: 21330

0,00

2. Capitalisation Reserves: 21350

0,00

IV. (Common stock equity): 21400

0,00

V. Results from previous periods: 21500

0,00

-3.427.631,00

-3.828.501,00

-5.057.427,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

0,00

-3.427.631,00

-3.828.501,00

-5.057.427,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

23.465.104,00

10.552.286,00

8.588.078,00

2.801.181,00

1.228.927,00

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

0,00

B) NON-CURRENT LIABILITIES: 31000

4.757.241,00

7.666.600,00

4.747.125,00

4.605.641,00

743.750,00

I. Long-term provisions: 31100

0,00

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

II Long-term creditors: 31200

4.757.241,00

7.666.600,00

4.747.125,00

4.605.641,00

743.750,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

4.757.241,00

7.666.600,00

4.747.125,00

4.605.641,00

300.000,00

3. Creditors from financial leasing: 31230

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

0,00

443.750,00

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

0,00

IV. Liabilities for deferred tax: 31400

0,00

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

26.257.748,00

17.989.507,00

14.796.750,00

17.344.215,00

3.605.084,00

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

4.844.418,00

6.009.086,00

4.201.469,00

11.298.142,00

689.271,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

2.908.602,00

2.880.907,00

1.019.624,00

1.144.704,00

100.000,00

3. Creditors from financial leasing: 32330

0,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

1.935.816,00

3.128.178,00

3.181.845,00

10.153.438,00

589.271,00

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

0,00

1,00

V. Trade creditors and other accounts payable: 32500

21.413.330,00

11.980.421,00

10.595.281,00

6.046.073,00

2.915.812,00

1. Suppliers: 32510

13.228.242,00

7.311.077,00

5.946.428,00

4.317.118,00

1.679.023,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

13.228.242,00

7.311.077,00

5.946.428,00

4.317.118,00

1.679.023,00

2. Suppliers, Group companies and associates: 32520

20.367,00

44.383,00

0,00

3. Other creditors: 32530

3.041.231,00

3.384.346,00

1.781.181,00

1.305.877,00

832.395,00

4. Personnel (remuneration due): 32540

817.527,00

372.916,00

423.305,00

218.040,00

120.137,00

5. Liabilities for current tax: 32550

2.299.250,00

0,00

1.852.490,00

0,00

6. Other accounts payable to Public Administrations.: 32560

1.609.735,00

259.135,00

238.053,00

156.831,00

158.635,00

7. Advances from clients: 32570

396.978,00

608.563,00

353.824,00

48.207,00

125.623,00

VI. Short-term accruals: 32600

0,00

VII. Special short-term debts : 32700

0,00

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

117.753.985,00

88.929.999,00

72.265.482,00

66.083.385,00

45.681.182,00

ORIGINAL

Profit and Loss

2016

2015

2014

2013

2012

1. Net turnover: 40100

82.306.017,00

58.011.576,00

38.691.087,00

23.587.881,00

11.863.456,00

a) Sales: 40110

82.256.710,00

58.011.576,00

38.691.087,00

0,00

b) Rendering of services: 40120

49.307,00

0,00

c) Income of financial nature of holding companies: 40130

0,00

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

4.371.098,00

-1.388.668,00

3.864.716,00

-33.296,00

-12.711,00

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

0,00

4. Supplies : 40400

-27.831.553,00

-20.600.971,00

-13.459.424,00

-7.966.095,00

-4.017.560,00

a) Stock consumption: 40410

-2.530.603,00

-1.081.529,00

-313.326,00

0,00

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

-23.874.200,00

-17.223.434,00

-12.518.470,00

0,00

c) Works carried out by other companies: 40430

-1.426.750,00

-2.296.008,00

-627.628,00

0,00

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

0,00

5. Other operating income: 40500

529.198,00

206.181,00

159.759,00

174.329,00

78.684,00

a) Auxiliary income and other from current management: 40510

481.913,00

164.383,00

159.759,00

0,00

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

47.285,00

41.798,00

0,00

6. Personnel costs: 40600

-7.323.842,00

-5.282.335,00

-4.259.119,00

-2.839.467,00

-1.669.104,00

a) Wages, salaries et al.: 40610

-5.592.876,00

-4.123.969,00

-3.313.250,00

0,00

b) Social security costs: 40620

-1.730.966,00

-1.158.366,00

-945.868,00

0,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-14.279.797,00

-10.220.110,00

-7.195.302,00

-5.114.817,00

-3.379.084,00

a) External services: 40710

-13.965.326,00

-10.043.446,00

-6.970.979,00

0,00

b) Taxes: 40720

-161.526,00

-164.252,00

-190.615,00

0,00

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

-152.944,00

-12.412,00

-33.707,00

0,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-6.972.785,00

-6.272.002,00

-5.982.037,00

-4.130.555,00

-1.118.461,00

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

0,00

10. Excess provisions : 41000

0,00

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

-5.306,00

-251.507,00

-5.440,00

-273.227,00

-47.667,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

-5.306,00

-251.507,00

-5.440,00

0,00

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

-108,00

7.483,00

9.377,00

54.641,00

8.048,00

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

30.792.924,00

14.209.649,00

11.823.618,00

3.459.394,00

1.705.602,00

14. Financial income : 41400

66.905,00

34.440,00

22.463,00

46.551,00

37.983,00

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

66.905,00

34.440,00

22.463,00

0,00

b 1) From Group companies and associates : 41421

28.110,00

0,00

b 2) From third parties : 41422

38.796,00

34.440,00

22.463,00

0,00

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

0,00

15. Financial expenditure: 41500

-124.231,00

-150.446,00

-263.371,00

-166.771,00

-62.685,00

a) Amounts owed to Group companies and associates : 41510

-32.227,00

0,00

b) For debts with third parties : 41520

-92.004,00

-150.446,00

-263.371,00

0,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

-19.825,00

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

385.570,00

326.300,00

277.005,00

-41.191,00

-22.413,00

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

-188.499,00

16.301,00

-16.301,00

0,00

a) Impairment and losses : 41810

-188.499,00

16.301,00

-16.301,00

0,00

b) Results for transfers and other : 41820

0,00

19. Other financial income and expenditure: 42100

0,00

a) Incorporation of financial expenditure to assets: 42110

0,00

b) Financial income from arrangement with creditors: 42120

0,00

c) Other income and expenditure: 42130

0,00

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

139.745,00

226.596,00

19.795,00

-161.411,00

-66.940,00

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

30.932.669,00

14.436.245,00

11.843.414,00

3.297.983,00

1.638.662,00

20. Income taxes: 41900

-7.467.565,00

-3.883.959,00

-3.255.336,00

-496.802,00

-409.735,00

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

23.465.104,00

10.552.286,00

8.588.078,00

0,00

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

0,00

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

23.465.104,00

10.552.286,00

8.588.078,00

2.801.181,00

1.228.927,00

> 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:

57.741.482,00

48.248.226,00

42.864.448,00

44.243.027,00

32.745.617,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

373.935,00

288.830,00

164.600,00

151.118,00

82.409,00

III. Tangible fixed assets:

57.215.945,00

47.901.654,00

42.666.552,00

44.064.227,00

32.533.886,00

IV. Financial investments:

151.602,00

57.742,00

33.296,00

27.682,00

129.322,00

V. Own shares:

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

60.012.503,00

40.681.773,00

29.401.033,00

21.840.358,00

12.935.565,00

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

0,00

II. Stocks:

13.153.634,00

6.440.949,00

8.193.297,00

2.405.384,00

2.369.171,00

III. Debtors:

26.655.759,00

14.921.414,00

9.446.124,00

7.936.333,00

4.647.380,00

IV. Short-term investments:

312.542,00

20.404,00

3.031.828,00

4.965.488,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

19.664.486,00

19.144.229,00

11.662.843,00

8.466.814,00

901.750,00

VII. Prepayments and accrued income:

226.083,00

154.778,00

78.366,00

0,00

51.777,00

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

117.753.985,00

88.929.999,00

72.265.482,00

66.083.385,00

45.681.182,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2016

2015

2014

2013

2012

A) EQUITY:

86.738.996,00

63.273.892,00

52.721.606,00

44.133.528,00

41.332.347,00

I. Subscribed capital:

40.610.860,00

II. Share premium:

4.593.462,00

III. Revaluation reserves:

0,00

IV. Reserves:

18.069.570,00

10.944.915,00

2.757.707,00

-43.474,00

a) Differences for capital adjustment to euros:

0,00

b) Remaining Reserves:

18.069.570,00

10.944.915,00

2.757.707,00

-43.474,00

V. Profit or loss brought forward:

0,00

-3.427.631,00

-3.828.501,00

-5.057.427,00

VI. Profit or loss for the financial year:

23.465.104,00

10.552.286,00

8.588.078,00

2.801.181,00

1.228.927,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

D) LONG TERM LIABILITIES:

4.757.241,00

7.666.600,00

4.747.125,00

4.605.641,00

743.750,00

E) SHORT TERM CREDITORS:

26.257.748,00

17.989.507,00

14.796.750,00

17.344.215,00

3.605.084,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

117.753.985,00

88.929.999,00

72.265.482,00

66.083.385,00

45.681.182,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2016

2015

2014

2013

2012

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

59.822.586,00

48.049.996,00

30.571.612,00

21.062.221,00

10.759.244,00

A.1. Operating consumption:

23.460.455,00

21.989.639,00

9.594.707,00

7.999.391,00

4.030.270,00

A.2. Staff Costs:

7.323.842,00

5.282.335,00

4.259.119,00

2.839.467,00

1.669.104,00

a) Wages, salaries et al.:

5.592.876,00

4.123.969,00

3.313.250,00

0,00

b) Social security costs:

1.730.966,00

1.158.366,00

945.868,00

2.839.467,00

1.669.104,00

A.3. Depreciation expense:

6.972.785,00

6.272.002,00

5.982.037,00

4.130.555,00

1.118.461,00

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

0,00

A.5. Other operating charges:

14.279.797,00

10.220.110,00

7.195.302,00

5.114.817,00

3.379.084,00

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

30.798.337,00

14.453.672,00

11.819.681,00

3.677.979,00

1.745.221,00

A.6. Financial and similar charges:

312.730,00

150.446,00

279.672,00

166.771,00

62.685,00

a) Due to liabilities with companies of the group:

32.227,00

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts:

92.004,00

150.446,00

263.371,00

166.771,00

62.685,00

d) Losses from financial investments:

188.499,00

0,00

16.301,00

0,00

A.7. Financial investment provision change:

0,00

19.825,00

A.8. Exchange losses:

0,00

41.191,00

22.413,00

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

139.745,00

210.294,00

19.795,00

0,00

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

30.938.082,00

14.663.967,00

11.839.477,00

3.516.568,00

1.678.281,00

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

0,00

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

5.306,00

251.507,00

5.440,00

273.227,00

47.667,00

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

0,00

A.12. Extraordinary expenses:

108,00

0,00

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):

0,00

3.937,00

0,00

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

30.932.669,00

14.419.943,00

11.843.414,00

3.297.983,00

1.638.662,00

A.14. Corporation Tax:

7.467.565,00

3.883.959,00

3.255.336,00

496.802,00

409.735,00

A.15. Miscellaneous taxes:

0,00

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

23.465.104,00

10.535.985,00

8.588.078,00

2.801.181,00

1.228.927,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2016

2015

2014

2013

2012

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

83.287.690,00

58.585.981,00

39.159.690,00

23.863.402,00

11.988.171,00

B.1. Operating income:

82.835.215,00

58.217.757,00

38.850.846,00

23.762.210,00

11.942.140,00

a) Net total sales:

82.306.017,00

58.011.576,00

38.691.087,00

23.587.881,00

11.863.456,00

b) Miscellaneous operating income:

529.198,00

206.181,00

159.759,00

174.329,00

78.684,00

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

0,00

B.2. Financial income:

66.905,00

34.440,00

22.463,00

46.551,00

37.983,00

a) Companies of the group:

28.110,00

0,00

b) In associated companies:

0,00

c) Miscellaneous:

38.796,00

34.440,00

22.463,00

46.551,00

37.983,00

d) Profit on financial investment:

0,00

B.3. Exchange gains:

385.570,00

326.300,00

277.005,00

0,00

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

0,00

161.411,00

66.940,00

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

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:

0,00

B.7. Extraordinary income:

0,00

7.483,00

9.377,00

54.641,00

8.048,00

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):

5.413,00

244.023,00

0,00

218.586,00

39.619,00

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

30.932.669,00

14.436.245,00

11.843.414,00

3.297.983,00

1.638.662,00

2. Results adjustments.: 61200

6.944.112,00

6.260.043,00

5.992.012,00

4.558.446,00

1.400.874,00

a) Fixed Assets Amortization (+).: 61201

6.972.785,00

6.272.002,00

5.982.037,00

4.130.555,00

1.118.461,00

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

188.499,00

-16.301,00

16.301,00

0,00

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

152.944,00

12.412,00

33.707,00

47.894,00

175.854,00

d) Allocation of grants (-).: 61204

-47.285,00

-41.798,00

0,00

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

5.306,00

251.507,00

5.440,00

273.227,00

47.667,00

g) Financial income (-).: 61207

-66.905,00

-34.440,00

-22.463,00

-46.551,00

-37.983,00

h) Financial Expenses (+). : 61208

124.231,00

150.446,00

263.371,00

166.771,00

62.685,00

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

-385.570,00

-326.300,00

-277.005,00

41.191,00

22.413,00

j) Reasonable Value Variation in Financial Instruments (+/-).: 61210

0,00

19.825,00

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

108,00

-7.483,00

-9.377,00

-54.641,00

-8.048,00

3. Changes in current capital equity.: 61300

-11.306.392,00

-637.061,00

-4.530.101,00

-628.178,00

575.990,00

a) Stock (+/-).: 61301

-6.712.685,00

1.752.348,00

-5.787.913,00

-36.213,00

58.012,00

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

-11.830.631,00

-5.550.628,00

-1.545.610,00

-3.524.754,00

-318.518,00

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

-71.305,00

-76.412,00

0,00

51.777,00

-11.648,00

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

7.308.229,00

3.237.631,00

2.803.422,00

2.881.012,00

848.144,00

4. Cash Flows from Other Operating Activities: 61400

-5.131.214,00

-5.708.441,00

-1.462.275,00

-184.079,00

21.013,00

a) Interest payments (-). : 61401

-124.231,00

-150.446,00

-263.371,00

-166.771,00

-46.824,00

c) Interest collection (+). : 61403

44.136,00

34.440,00

22.463,00

73.340,00

37.213,00

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

-5.078.078,00

-5.591.267,00

-1.340.588,00

0,00

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

26.959,00

-1.169,00

119.221,00

-90.648,00

30.624,00

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

21.439.175,00

14.350.785,00

11.843.049,00

7.044.173,00

3.636.539,00

6. Payments for investment (-).: 62100

-20.950.842,00

-11.907.499,00

-4.709.852,00

-22.717.955,00

-7.042.039,00

a) Companies of the group and affiliates. : 62101

-219.099,00

-6.864,00

0,00

-16.576,00

0,00

b) Intangible fixed assets. : 62102

-144.570,00

-162.466,00

-40.627,00

-43.694,00

-21.465,00

c) Fixed assets. : 62103

-16.232.916,00

-11.735.090,00

-4.641.080,00

-16.655.461,00

-2.083.362,00

e) Other financial assets. : 62105

-4.354.257,00

-3.079,00

-28.145,00

-6.002.224,00

-4.937.213,00

7. Divestment payment collection (+). : 62200

4.021.628,00

1.798,00

3.022.653,00

8.029.215,00

0,00

c) Fixed assets. : 62203

0,00

6.000,00

2.178,00

0,00

e) Other financial assets. : 62205

4.021.628,00

1.798,00

3.016.653,00

8.027.037,00

0,00

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

-16.929.214,00

-11.905.701,00

-1.687.199,00

-18.819.295,00

-8.160.500,00

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

0,00

4.899.999,00

a) Issuance of equity instruments (+). : 63101

0,00

4.899.999,00

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

-4.073.269,00

5.036.301,00

-6.959.821,00

15.209.632,00

-1.011.531,00

a) Issuance : 63201

1.935.816,00

10.628.178,00

7.182.455,00

16.299.087,00

989.271,00

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

0,00

7.500.000,00

4.000.000,00

5.850.530,00

400.000,00

5. Other debts (+). : 63206

1.935.816,00

3.128.178,00

3.182.455,00

10.448.557,00

589.271,00

b) Repayment and amortization of : 63207

-6.009.086,00

-5.591.877,00

-14.142.276,00

-1.089.455,00

-2.000.802,00

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

-2.880.907,00

-2.410.032,00

-3.987.470,00

-500.185,00

-1.013.034,00

5. Other debts (-). : 63212

-3.128.178,00

-3.181.845,00

-10.154.807,00

-589.271,00

-987.768,00

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

0,00

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

-4.073.269,00

5.036.301,00

-6.959.821,00

15.209.632,00

3.888.468,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

83.565,00

0,00

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

520.257,00

7.481.385,00

3.196.029,00

7.565.065,00

482.968,00

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

19.144.229,00

11.662.843,00

8.466.814,00

901.750,00

418.782,00

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

19.664.486,00

19.144.229,00

11.662.843,00

8.466.814,00

901.750,00

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:

0,01 %

0,13 %

0,06 %

-95,10 %

-82,31 %

Net Financial Debt:

-0,27

2,32

-0,26

2,88

-3,72

-19,55

Cash Flow Yield:

0,00 %

0,01 %

0,08 %

0,03 %

-94,75 %

-82,08 %

EBITDA over Sales:

45,89 %

11,97 %

35,73 %

10,43 %

28,45 %

14,76 %

Profitability

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

26,25 %

8,83 %

15,98 %

6,97 %

64,25 %

26,69 %

Total economic profitability:

26,37 %

4,89 %

16,40 %

3,20 %

60,80 %

53,09 %

Financial profitability:

27,05 %

7,26 %

16,68 %

4,15 %

62,21 %

75,09 %

Margin:

37,17 %

7,82 %

24,39 %

6,34 %

52,38 %

23,27 %

Mark-up:

37,34 %

7,03 %

24,78 %

3,78 %

50,67 %

86,06 %

Solvency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,75

0,16

1,06

0,14

-29,63

16,50

Acid Test:

1,75

0,90

1,86

0,86

-5,60

4,23

Working Capital / Investment:

0,28

0,03

0,25

0,03

13,73

10,50

Solvency:

2,29

1,21

2,26

1,18

1,07

2,25

Indebtedness

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

0,36

1,24

0,41

1,32

-11,82

-5,86

Borrowing Composition:

0,18

1,05

0,43

1,03

-57,49

1,78

Repayment Ability:

0,82

9,28

1,24

11,09

-33,67

-16,30

Warranty:

3,80

1,82

3,47

1,77

9,53

2,74

Generated resources / Total creditors:

0,99

0,09

0,66

0,08

50,73

19,81

Efficiency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

6,16

1,91

4,92

1,80

25,06

6,20

Turnover of Collection Rights :

3,18

5,09

4,09

5,22

-22,21

-2,49

Turnover of Payment Entitlements:

2,17

3,54

2,46

3,68

-11,64

-3,81

Stock rotation:

3,96

8,11

6,79

7,72

-41,78

4,97

Assets turnover:

0,71

1,13

0,66

1,10

7,79

2,78

Borrowing Cost:

0,40

2,33

0,59

2,45

-31,69

-4,78

> 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:

0,01 %

0,13 %

0,08 %

0,32 %

0,04 %

Net Financial Debt:

-0,27

-0,26

-0,15

0,56

-1,55

Cash Flow Yield:

0,00 %

0,08 %

0,04 %

0,11 %

0,01 %

EBITDA over Sales:

45,89 %

35,73 %

46,01 %

33,10 %

24,14 %

Profitability

2016

2015

2014

2013

2012

Operating economic profitability:

26,25 %

15,98 %

16,36 %

5,40 %

4,18 %

Total economic profitability:

26,37 %

16,40 %

16,75 %

5,24 %

3,72 %

Financial profitability:

27,05 %

16,68 %

16,29 %

6,35 %

2,97 %

Margin:

37,17 %

24,39 %

30,41 %

14,33 %

14,21 %

Mark-up:

37,34 %

24,78 %

30,46 %

13,65 %

Solvency

2016

2015

2014

2013

2012

Liquidity:

0,75

1,06

0,79

0,49

0,25

Acid Test:

1,75

1,86

1,38

1,07

2,55

Working Capital / Investment:

0,28

0,25

0,19

0,06

0,18

Solvency:

2,29

2,26

1,99

1,26

3,59

Indebtedness

2016

2015

2014

2013

2012

Indebtedness level:

0,36

0,41

0,37

0,50

0,11

Borrowing Composition:

0,18

0,43

0,32

0,27

0,21

Repayment Ability:

0,82

1,24

1,10

2,81

1,52

Warranty:

3,80

3,47

3,70

3,01

10,50

Generated resources / Total creditors:

0,99

0,66

0,75

0,32

0,54

Efficiency

2016

2015

2014

2013

2012

Productivity:

6,16

4,92

5,18

3,75

2,72

Turnover of Collection Rights :

3,18

4,09

4,47

3,34

3,58

Turnover of Payment Entitlements:

2,17

2,46

2,31

2,16

2,53

Stock rotation:

3,96

6,79

3,30

8,35

4,30

Assets turnover:

0,71

0,66

0,54

0,38

0,29

Borrowing Cost:

0,40

0,59

1,35

0,76

1,44

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

Alimarket

06/11/2017

TheSize pone en marcha un nuevo almacén

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

CONSELLERIA DE ECONOMIA, INDUSTRIA, TURISMO Y EMPLEO

Subsidy Concept

Subvención de explotación

Status

CONCEDIDA

Amount Granted

41.797,80

Entity

CONSEJERIA DE ECONOMIA INDUSTRIA TURISMO Y EMPLEO

Subsidy Concept

Subvención de explotación

Status

CONCEDIDA

Amount Granted

41.789,43

Entity

ORGANISMO NO ESPECIFICADO

Subsidy Concept

Subvención de explotación

Status

CONCEDIDA

Amount Granted

5.495,59

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 67.82
UK Pound	1	INR 91.68
Euro	1	INR 80.29
Euro	1	INR 80.06

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

INFORMATION DETAILS

Analysis Done by :	NIY

Report Prepared by :	DNS

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

Enquiry Details

Branch Offices

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

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

Guarantees

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