3decades

MIRA INFORM REPORT

Report No. :	510980
Report Date :	30.05.2018

IDENTIFICATION DETAILS

Name :	CLIME SA

Registered Office :	Av/ Onze De Setembre, 23 Pol.Els Plans De La Sala. - Sallent - 08650 - Barcelona

Country :	Spain

Financials (as on) :	31.12.2016

Date of Incorporation :	30.05.1973

Legal Form :	Public Company

Line of Business :	Subject is engaged in the manufacture, purchase-sale, import, export and representation of all sorts of clothes and textiles made of synthetic, leather and similar fibres.

No. of Employees :	66

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	No Complaints

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:

CLIME SA

NIF / Fiscal code:

A08322067

Trade Name

CLIME SA "CLIMESA"

Status:

ACTIVE

Incorporation Date:

30/05/1973

Last Publication in BORME:

18/04/2018 [Appointments]

Last Published Account Deposit:

2016

Share Capital:

400.000

Localization:

AV/ ONZE DE SETEMBRE, 23 POL.ELS PLANS DE LA SALA. - SALLENT - 08650 - BARCELONA

Telephone - Fax - Email - Website:

Telephone. 933076362 Email. climesa@fibcnet.com Website. www.fibcnet.com

Number of Branches

Activity:

NACE:

1392 - Manufacture of made-up textile articles, except apparel

Registered Trademarks:

Audited / Opinion:

Si /

Tenders and Awards:

1 for a total cost of 76.800,00

Subsidies:

1 for a total cost of 12306.33

Quality Certificate:

Payment Behaviour:

No Complaints

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)

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

OTROS ACCIONISTAS DE LA SOCIEDAD CLIME, S.A.

100 %

Enquiry Details

Identification

Social Denomination:

CLIME SA

Trade Name:

CLIME SA "CLIMESA"

NIF / Fiscal code:

A08322067

Corporate Status:

ACTIVE

Start of activity:

30-05-1973

Registered Office:

AV/ ONZE DE SETEMBRE, 23 POL.ELS PLANS DE LA SALA.

Locality:

SALLENT

Province:

BARCELONA

Postal Code:

08650

Telephone:

933076362

Fax:

933085649

Website:

www.fibcnet.com

Email:

climesa@fibcnet.com

Interviewed Person:

Administration (fewdetails).

Offices

Address

Postal Code

City

Province

AVENIDA DE INDUSTRIA 3

08297

CASTELLGALI

BARCELONA

CALLE ONZE DE SETEMBRE 23

08650

SALLENT

BARCELONA

Activity

NACE:

1392

Corporate Purpose:

The subject is engaged in the manufacture, purchase-sale, import, export and representation of all sorts of clothes and textiles made of synthetic, leather and similar fibres.

Additional Information:

Design, manufacutre and trade of flexible containers.

Additional Address:

The Registered Office, offices and manufacturing facilities are located at the heading address. high-performance facilities.

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. Failing that, are estimates data calculated by statistical methods

Chronological Summary

Year

Act

1990

Accounts deposit (year 1989)

1991

Accounts deposit (year 1990)

1992

Accounts deposit (year 1991) Adaptation to Law (1) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Change of Social Purpose (1) Statutory Modifications (1)

1993

Accounts deposit (year 1992)

1995

Accounts deposit (year 1994) Appointments/ Re-elections (1)

1996

Accounts deposit (year 1995) Other Concepts/ Events (1)

1997

Accounts deposit (year 1996) Appointments/ Re-elections (1) Increase of Capital (1) Loss of the sole propietorship condition (1) Other Concepts/ Events (1) Take-over Merger (5)

1998

Accounts deposit (year 1997)

1999

Accounts deposit (year 1998) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

2000

Accounts deposit (year 1999)

2001

Accounts deposit (year 2000)

2002

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

2003

Accounts deposit (year 2002)

2004

Accounts deposit (year 2003) Appointments/ Re-elections (1) Cessations/ Resignations/ Reversals (1) Statutory Modifications (1)

2005

Accounts deposit (year 2004) Appointments/ Re-elections (3) Cessations/ Resignations/ Reversals (2) Statutory Modifications (1)

2006

Accounts deposit (year 2005)

2007

Accounts deposit (year 2006)

2008

Accounts deposit (year 2007)

2009

Accounts deposit (year 2008) Appointments/ Re-elections (2) Cessations/ Resignations/ Reversals (1)

2010

Accounts deposit (year 2009)

2011

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

2012

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

2013

Accounts deposit (year 2012)

2014

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

2015

Accounts deposit (year 2014)

2016

Accounts deposit (year 2015)

2017

Accounts deposit (year 2016) Change of Social address (1)

2018

Appointments/ Re-elections (1)

Breakdown of Owners' Equity

Registered Capital:

400.000

Paid up capital:

400.000

Updated Evolution of the Subscribed and Paid-in Capital

wordml://1344

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

25/02/1997

Increase of Capital

10.818

100.970

29/03/2011

Increase of Capital

299.030

400.000

Founding Partners

Partner Name	NIF	% Shareholding stake
JORGE CLIMEN FERNANDEZ
JOAN CLIMENT FERNANDEZ
CARLOS CLIMENT FERNANDEZ

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

JOINT MANAGER

CLIMENT FERNANDEZ JOAN

10/04/2018

CLIMENT FERNANDEZ JORDI

10/04/2018

CLIMENT FERNANDEZ JORGE

22/08/2012

PROXY

CLIMENT FERNANDEZ JORDI

17/03/2009

CLIMENT FERNANDEZ JOAN

17/03/2009

ACCOUNTS' AUDITOR / HOLDER

CRIPTIS CONSULTORS SLP

14/01/2014

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

ABL AUDITORES SL

ACCOUNTS' AUDITOR / HOLDER

14/03/2002

BALL CONSULTORS I AUDITORS SL

ACCOUNTS' AUDITOR / HOLDER

04/03/2011

BALL CONSULTORS I AUDITORS SLP

ACCOUNTS' AUDITOR / HOLDER

14/01/2014

BASSOLS SUÑOL ROSA

PROXY

23/12/2005

CLIMENT FERNANDEZ CARLOS

MEMBER OF THE BOARD

23/06/2004

PROXY

23/12/2005

CLIMENT FERNANDEZ JOAN

JOINT MANAGER

10/04/2018

MEMBER OF THE BOARD

22/08/2012

PROXY

17/03/2009

SECRETARY

22/08/2012

CLIMENT FERNANDEZ JORGE

MEMBER OF THE BOARD

23/06/2004

MEMBER OF THE BOARD

17/03/2009

MEMBER OF THE BOARD

22/08/2012

PROXY

23/12/2005

PROXY

17/03/2009

PRESIDENT

17/03/2009

PRESIDENT

22/08/2012

CLIMENT FERNANDEZ JUAN

MEMBER OF THE BOARD

23/06/2004

MEMBER OF THE BOARD

22/08/2012

PROXY

23/12/2005

SECRETARY

23/06/2004

SECRETARY

17/03/2009

CLIMENT ISALT JUAN

ADMINISTRATOR

06/04/1992

ADMINISTRATOR

25/02/1997

ADMINISTRATOR

20/05/1999

MEMBER OF THE BOARD

23/06/2004

MEMBER OF THE BOARD

30/11/2005

PROXY

23/12/2005

CHIEF EXECUTIVE OFFICER

23/06/2004

CHIEF EXECUTIVE OFFICER

30/11/2005

HONOUR PRESIDENT

17/03/2009

PRESIDENT

23/06/2004

PRESIDENT

30/11/2005

DIAZ ANDRES ERNESTO

MEMBER OF THE BOARD

17/03/2009

MEMBER OF THE BOARD

22/08/2012

PROXY

17/03/2009

FERNANDEZ BARAYON MATILDE

PROXY

23/12/2005

LOPEZ PULLES FRANCISCO

PROXY

23/12/2005

VALCARCEL ENRIQUEZ JOSE LUIS

MEMBER OF THE BOARD

17/03/2009

MEMBER OF THE BOARD

22/08/2012

PROXY

17/03/2009

Executive board

Post

NIF

Name

ADMINISTRATOR SOLIDARIO

JOAN CLIMENT FERNANDEZ

ADMINISTRATOR SOLIDARIO

JORGE CLIMENT FERNANDEZ

FINANCIAL DIRECTOR

JOSE LUIS VARCARDEL

MANAGING DIRECTOR

JUAN CLIMENT FERNANDEZ

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

---

15/11/2017

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

---

> Basis for scoring

Positive Factors

Adverse Factors

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

Significant level of financial autonomy. The asset is financed mostly with equity and financing with maturity exceeding one year, providing a solid financial structure.

The current debt represents a 44.25of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

It has financial profitability.. CLIME SA obtains financial return as a consequence of an investment in its own resources which, a priori, might improve its financial and economic situation.

Positive Working CapitalThe Company's Working Capital quality is significant, i.e. much of the Company financing comes from its equity. A structure is considered optimal if its liquidity level is slightly above its debt volume as a result of low idleness levels of its financial resources involved.

Immediate solvency is significantly lower than that of the previous fiscal year.

Debts assumed by the company based on the volume of its own resources have increased in the previous financial year.

No Company's subsidiaries or branches are known.

Possible difficulty accessing financing. Uncertainties about economic recovery will hinder access to credit for new projects or for obtaining the liquidity necessary for short-term needs.

Probability of default

> Estimated Probability of Default for the next 12 months: 0.917 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

139 Manufacture of other textiles

wordml://2702

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 98.00% of the companies of the sector CLIME SA belongs to show a higher probability of non-compliance.

The probability of the company's non-compliance with its payment obligations within deadlines estimated by our qualifications models is 0,917%.

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

1 Incidence the amount of which has not been 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

Incidences Detailed

Incidences with the Local Administration

PROCESSED BY THE LOCAL GOVERNMENT DE BARCELONA - Date 15/11/2017

Last Published Stage:

EXECUTION NOTIFICATION

Record Number:

0064207540

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Guarantees

References

Link List

ABSORBS TO:

2 Entities

SHAREHOLDERS:

1 Entities

> Shareholders

Relationship

Entity

Province

Shareholding stake

SHAREHOLDERS

OTROS ACCIONISTAS DE LA SOCIEDAD CLIME, S.A.

100

> Other relationships

Relationship

Entity

Province

Shareholding stake

ABSORBS TO

MANUFACTURAS CLIME SL

BARCELONA

SLING WORLD, S.L.

BARCELONA

Turnover

Total Sales 2016

9.110.274,19

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

Estimated Balance

Low-level company whose volume of business for the 2016 fiscal year increased by 9% The Balance Sheet shows tight Liquidity (1,1/1) and Treasury (0,7/1) ratios; and also a balanced Total Solvency Ratio.

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2016

Normales

July 2017

2015

Normales

July 2016

2014

Normales

July 2015

2013

Normales

July 2014

2012

Normales

July 2013

2011

Normales

July 2012

2010

Normales

July 2011

2009

Normales

July 2010

2008

Normales

June 2009

2007

Normales

May 2008

2006

Normales

May 2007

2005

Normales

May 2006

2004

Normales

May 2005

2003

Normales

July 2004

2002

Normales

April 2003

2001

Normales

May 2002

2000

Normales

July 2001

1999

Normales

July 2000

1998

Normales

May 1999

1997

Normales

July 1998

1996

Normales

September 1997

1995

Normales

July 1996

1994

Normales

September 1995

1992

Normales

August 1993

1991

Normales

August 1992

1990

Normales

September 1991

1989

Normales

August 1990

The data in the report regarding the last Company Accounts submitted by the company is taken from the TRADE REGISTER serving the region in which the company's address is located 31/12/2016

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

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

ORIGINAL

Assets

2016

2015

2014

2013

2012

A) NON-CURRENT ASSETS: 11000

4.860.499,00

4.627.932,00

1.765.099,00

2.874.464,00

2.883.242,00

I. Intangible fixed assets : 11100

28.609,00

1.250,00

5.931,00

13.700,00

20.363,00

1. Development: 11110

0,00

2. Concessions: 11120

0,00

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

0,00

4. Goodwill: 11140

0,00

5. IT applications: 11150

28.609,00

1.250,00

5.931,00

13.700,00

20.363,00

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

4.662.549,00

4.439.085,00

1.596.863,00

2.694.661,00

2.711.063,00

1. Land and buildings: 11210

3.537.111,00

3.388.711,00

1.212.371,00

2.462.982,00

2.484.284,00

2. Technical installations and other tangible fixed assets: 11220

1.122.557,00

878.590,00

238.312,00

215.283,00

226.780,00

3. Tangible asset in progress and advances: 11230

2.880,00

171.784,00

146.180,00

16.396,00

0,00

III. Real estate investment: 11300

123.523,00

127.320,00

131.118,00

134.916,00

136.815,00

1. Land: 11310

96.573,00

2. Buildings: 11320

26.949,00

30.747,00

34.545,00

38.343,00

40.242,00

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

0,00

15.000,00

1. Equity instruments: 11410

0,00

15.000,00

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

45.819,00

60.277,00

31.186,00

0,00

1. Equity instruments: 11510

30.006,00

30.000,00

0,00

2. Credits to third parties : 11520

14.000,00

0,00

3. Debt securities: 11530

0,00

4. Derivatives : 11540

0,00

5. Other financial assets : 11550

1.813,00

30.277,00

1.186,00

0,00

6. Other investments: 11560

0,00

VII. Non-current trade debts : 11700

0,00

VI. Assets for deferred tax : 11600

0,00

B) CURRENT ASSETS: 12000

4.916.713,00

4.696.555,00

7.056.821,00

3.891.105,00

3.435.250,00

I. Non-current assets held for sale : 12100

0,00

II. Stocks: 12200

1.702.596,00

1.535.844,00

1.564.458,00

1.948.947,00

1.761.494,00

1. Commercial: 12210

499.308,00

564.538,00

346.452,00

684.275,00

428.043,00

2. Primary material and other supplies: 12220

796.714,00

723.271,00

952.300,00

933.936,00

1.014.444,00

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

0,00

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

796.714,00

0,00

3. Work in progress: 12230

39.588,00

57.819,00

59.803,00

83.610,00

67.994,00

a) Of long-term production cycle : 12231

0,00

b) Of short-term production cycle : 12232

39.588,00

57.819,00

59.803,00

83.610,00

67.994,00

4. Finished goods: 12240

313.902,00

188.026,00

205.829,00

247.127,00

251.013,00

a) Of long-term production cycle : 12241

0,00

b) Of short-term production cycle : 12242

313.902,00

188.026,00

205.829,00

247.127,00

251.013,00

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

0,00

6. Advances to suppliers: 12260

53.083,00

2.190,00

74,00

0,00

III. Trade debtors and others receivable accounts: 12300

2.817.782,00

2.335.532,00

3.053.502,00

1.848.907,00

1.602.418,00

1. Trade debtors / accounts receivable: 12310

2.810.324,00

2.302.382,00

2.018.048,00

1.824.309,00

1.578.049,00

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

0,00

b) Customers for sales and provisions of services : 12312

2.810.324,00

2.302.382,00

2.018.048,00

1.824.309,00

1.578.049,00

2. Customers, Group companies and associates : 12320

0,00

3. Other accounts receivable: 12330

3.308,00

603,00

1.011.771,00

16.653,00

16.469,00

4. Personnel: 12340

4.150,00

6.300,00

2.900,00

1.150,00

1.934,00

5. Assets for deferred tax: 12350

0,00

6.795,00

5.965,00

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

0,00

26.247,00

20.782,00

0,00

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

6.079,00

101,00

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

6.079,00

101,00

6. Other investments: 12560

0,00

VI. Short-term accruals: 12600

7.843,00

6.274,00

0,00

6.000,00

12.960,00

VII. Cash and other equivalent liquid assets : 12700

382.414,00

812.825,00

2.432.782,00

81.171,00

58.278,00

1. Treasury: 12710

382.414,00

812.825,00

2.432.782,00

81.171,00

58.278,00

2. Other equivalent liquid assets: 12720

0,00

TOTAL ASSETS (A + B) : 10000

9.777.212,00

9.324.487,00

8.821.920,00

6.765.569,00

6.318.492,00

ORIGINAL

Liabilities and Net Worth

2016

2015

2014

2013

2012

A) NET WORTH: 20000

4.850.671,00

4.777.307,00

4.711.118,00

2.737.334,00

2.704.917,00

A-1) Shareholders' equity: 21000

4.850.671,00

4.777.307,00

4.711.118,00

2.737.334,00

2.704.917,00

I. Capital: 21100

400.000,00

1. Registered capital : 21110

400.000,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

4.377.307,00

4.311.118,00

2.348.590,00

1. Legal and statutory: 21310

80.000,00

32.603,00

2. Other reserves: 21320

4.245.194,00

4.231.118,00

2.315.988,00

3. Revaluation reserves: 21330

0,00

2. Capitalisation Reserves: 21350

52.113,00

0,00

IV. (Common stock equity): 21400

0,00

V. Results from previous periods: 21500

0,00

-11.256,00

-43.674,00

-38.174,00

1. Brought forward: 21510

0,00

2. (Negative results from previous periods): 21520

0,00

-11.256,00

-43.674,00

-38.174,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

73.364,00

66.189,00

1.973.784,00

32.417,00

-5.500,00

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

599.686,00

273.629,00

490.617,00

299.925,00

446.623,00

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

597.993,00

270.851,00

364.952,00

290.742,00

433.200,00

1. Liabilities and other securities: 31210

0,00

2. Amounts owed to credit institutions: 31220

459.160,00

154.751,00

248.852,00

174.642,00

317.100,00

3. Creditors from financial leasing: 31230

22.733,00

0,00

4. Derivatives : 31240

0,00

5. Other financial liabilities : 31250

116.100,00

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

0,00

IV. Liabilities for deferred tax: 31400

1.693,00

2.778,00

125.665,00

9.183,00

13.423,00

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

4.326.855,00

4.273.552,00

3.620.186,00

3.728.310,00

3.166.952,00

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

2.496.752,00

2.538.255,00

1.832.592,00

2.074.793,00

2.181.233,00

1. Liabilities and other securities: 32310

0,00

2. Amounts owed to credit institutions: 32320

2.482.166,00

2.538.255,00

1.832.592,00

2.071.699,00

2.178.037,00

3. Creditors from financial leasing: 32330

14.586,00

0,00

3.195,00

4. Derivatives : 32340

0,00

5. Other financial liabilities : 32350

0,00

3.094,00

0,00

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

0,00

V. Trade creditors and other accounts payable: 32500

1.830.103,00

1.735.297,00

1.787.594,00

1.653.516,00

985.720,00

1. Suppliers: 32510

1.329.215,00

933.507,00

1.456.449,00

1.361.015,00

685.637,00

a) Long-term debts : 32511

0,00

b) Short-term debts : 32512

1.329.215,00

933.507,00

1.456.449,00

1.361.015,00

685.637,00

2. Suppliers, Group companies and associates: 32520

0,00

3. Other creditors: 32530

315.996,00

616.386,00

179.911,00

126.448,00

163.584,00

4. Personnel (remuneration due): 32540

58.585,00

42.162,00

37.342,00

35.347,00

31.553,00

5. Liabilities for current tax: 32550

1.809,00

71.384,00

45.965,00

0,00

6. Other accounts payable to Public Administrations.: 32560

120.100,00

68.888,00

67.926,00

130.686,00

104.946,00

7. Advances from clients: 32570

4.398,00

2.970,00

0,00

20,00

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

9.777.212,00

9.324.487,00

8.821.920,00

6.765.569,00

6.318.492,00

ORIGINAL

Profit and Loss

2016

2015

2014

2013

2012

1. Net turnover: 40100

9.110.274,00

8.347.817,00

7.575.210,00

6.900.542,00

6.237.137,00

a) Sales: 40110

9.110.274,00

8.347.817,00

7.575.210,00

6.900.542,00

6.237.137,00

b) Rendering of services: 40120

0,00

c) Income of financial nature of holding companies: 40130

0,00

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

107.645,00

-19.788,00

-65.104,00

11.730,00

-52.531,00

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

0,00

4. Supplies : 40400

-5.810.520,00

-5.253.619,00

-5.699.829,00

-4.326.685,00

-3.820.131,00

a) Stock consumption: 40410

-3.465.334,00

-2.895.508,00

-2.370.402,00

-1.256.294,00

-1.073.210,00

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

-2.061.691,00

-2.037.403,00

-2.991.583,00

-2.742.340,00

-2.423.626,00

c) Works carried out by other companies: 40430

-283.495,00

-320.709,00

-337.843,00

-328.052,00

-323.295,00

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

0,00

5. Other operating income: 40500

27.049,00

19.258,00

20.906,00

26.846,00

19.338,00

a) Auxiliary income and other from current management: 40510

27.049,00

19.258,00

20.906,00

26.846,00

19.338,00

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

0,00

6. Personnel costs: 40600

-2.197.289,00

-2.043.184,00

-1.771.153,00

-1.624.592,00

-1.511.620,00

a) Wages, salaries et al.: 40610

-1.744.606,00

-1.604.907,00

-1.392.934,00

-1.279.323,00

-1.215.522,00

b) Social security costs: 40620

-452.683,00

-438.277,00

-378.219,00

-345.269,00

-296.098,00

c) Provisions : 40630

0,00

7. Other operating costs: 40700

-863.820,00

-823.619,00

-941.594,00

-745.143,00

-662.100,00

a) External services: 40710

-830.893,00

-783.952,00

-734.775,00

-656.273,00

-619.151,00

b) Taxes: 40720

-41.373,00

-36.355,00

-163.065,00

-34.753,00

-35.951,00

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

8.446,00

-3.312,00

-43.754,00

-54.118,00

-6.997,00

d) Other current management expenditure : 40740

0,00

e) Expenses due to greenhouse gas emissions: 40750

0,00

8. Amortisation of fixed assets: 40800

-195.078,00

-65.591,00

-52.607,00

-65.027,00

-61.913,00

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

744,00

6.976,00

3.466.631,00

0,00

a) Impairment and losses : 41110

0,00

b) Results for transfers and other : 41120

744,00

6.976,00

3.466.631,00

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

-2.412,00

-43.851,00

19.762,00

11.578,00

2.287,00

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

176.594,00

124.400,00

2.552.222,00

189.248,00

150.468,00

14. Financial income : 41400

727,00

5.432,00

3.680,00

305,00

810,00

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

727,00

5.432,00

3.680,00

305,00

810,00

b 1) From Group companies and associates : 41421

0,00

b 2) From third parties : 41422

727,00

5.432,00

3.680,00

305,00

810,00

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

0,00

15. Financial expenditure: 41500

-89.076,00

-94.880,00

-133.635,00

-161.375,00

-160.601,00

a) Amounts owed to Group companies and associates : 41510

0,00

b) For debts with third parties : 41520

-89.076,00

-94.880,00

-133.635,00

-161.375,00

-160.601,00

c) Stock renewal : 41530

0,00

16. Changes in fair value of financial instruments : 41600

0,00

a) Trading book and other : 41610

0,00

b) Allocation of financial assets held for sale to the result for the period: 41620

0,00

17. Exchange rate differences : 41700

992,00

23,00

518,00

0,00

-694,00

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

0,00

a) Impairment and losses : 41810

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

-87.358,00

-89.425,00

-129.437,00

-161.070,00

-160.485,00

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

89.236,00

34.975,00

2.422.786,00

28.177,00

-10.017,00

20. Income taxes: 41900

-15.872,00

31.214,00

-449.002,00

4.240,00

4.517,00

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

73.364,00

66.189,00

1.973.784,00

32.417,00

-5.500,00

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

0,00

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

73.364,00

66.189,00

1.973.784,00

32.417,00

-5.500,00

> 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:

4.860.499,00

4.627.932,00

1.765.099,00

2.874.464,00

2.883.242,00

I. Formation expenses:

0,00

II. Intangible fixed assets:

28.609,00

1.250,00

5.931,00

13.700,00

20.363,00

1. Research and development costs:

0,00

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

0,00

3. Goodwill:

0,00

4. Key money paid for premises:

0,00

5. Software:

28.609,00

1.250,00

5.931,00

13.700,00

20.363,00

6. Assets under capital leases:

0,00

7. Payments on account:

0,00

8. Provisions:

0,00

9. Accumulated depreciation:

0,00

III. Tangible fixed assets:

4.786.071,00

4.566.406,00

1.727.982,00

2.829.577,00

2.847.879,00

1. Land and construction:

3.660.634,00

3.516.032,00

1.343.489,00

2.597.899,00

2.621.099,00

2. Technical installations and machinery:

671.708,00

525.725,00

142.600,00

128.819,00

135.699,00

3. Other installations, tools and furniture:

179.825,00

140.743,00

38.176,00

34.487,00

36.328,00

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

2.880,00

171.784,00

146.180,00

16.396,00

0,00

5. Other tangible assets:

271.024,00

212.122,00

57.537,00

51.977,00

54.752,00

6. Provisions:

0,00

7. Accumulated depreciation:

0,00

IV. Financial investments:

45.819,00

60.277,00

31.186,00

15.000,00

1. Equity investments in group companies:

0,00

15.000,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Long-term securities portfolio:

30.006,00

30.000,00

0,00

6. Other receivables:

14.000,00

0,00

7. Long term guarantees and deposits:

1.813,00

30.277,00

1.186,00

0,00

8. Provisions:

0,00

9. Long-term receivables from public bodies:

0,00

V. Own shares:

0,00

VI. Long-term trade receivables:

0,00

C) Deferred expenses:

0,00

D) CURRENT ASSETS:

4.916.713,00

4.696.555,00

7.056.821,00

3.891.105,00

3.435.250,00

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

0,00

II. Stocks:

1.702.596,00

1.535.844,00

1.564.458,00

1.948.947,00

1.761.494,00

1. Goods for resale:

499.308,00

564.538,00

346.452,00

684.275,00

428.043,00

2. Raw materials and other consumables:

796.714,00

723.271,00

952.300,00

933.936,00

1.014.444,00

3. Goods in process and semifinished ones:

39.588,00

57.819,00

59.803,00

83.610,00

67.994,00

4. Finished products:

313.902,00

188.026,00

205.829,00

247.127,00

251.013,00

5. Byproducts, scrap and recovered materials:

0,00

6. Payments on account:

53.083,00

2.190,00

74,00

0,00

7. Provisions:

0,00

III. Debtors:

2.817.782,00

2.335.532,00

3.053.502,00

1.848.907,00

1.602.418,00

1. Trade debtors / accounts receivable:

2.810.324,00

2.302.382,00

2.018.048,00

1.824.309,00

1.578.049,00

2. Accounts receivable, Group companies:

0,00

3. Accounts receivable, associated companies:

0,00

4. Other debtors:

3.308,00

603,00

1.011.771,00

16.653,00

16.469,00

5. Staff:

4.150,00

6.300,00

2.900,00

1.150,00

1.934,00

6. Public bodies:

0,00

26.247,00

20.782,00

6.795,00

5.965,00

7. Provisions:

0,00

IV. Short-term investments:

6.079,00

101,00

1. Equity investments in group companies:

0,00

2. Receivables from group companies:

0,00

3. Equity investment in associated companies:

0,00

4. Credits to associated companies:

0,00

5. Short term securities portfolio:

0,00

6. Other receivables:

0,00

7. Shor term guarantees and deposits:

6.079,00

101,00

8. Provisions:

0,00

V. Short-term treasury shares:

0,00

VI. Cash at bank and in hand:

382.414,00

812.825,00

2.432.782,00

81.171,00

58.278,00

VII. Prepayments and accrued income:

7.843,00

6.274,00

0,00

6.000,00

12.960,00

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

9.777.212,00

9.324.487,00

8.821.920,00

6.765.569,00

6.318.492,00

MERCANTILE REGISTRY.

EQUIVALENCIA

LIABILITIES

2016

2015

2014

2013

2012

A) EQUITY:

4.798.558,00

4.777.307,00

4.711.118,00

2.737.334,00

2.704.917,00

I. Subscribed capital:

400.000,00

II. Share premium:

0,00

III. Revaluation reserves:

0,00

IV. Reserves:

4.325.194,00

4.311.118,00

2.348.590,00

1. Legal reserve:

80.000,00

32.603,00

2. Reserves for own shares:

0,00

3. Reserves for shares of the controlling company:

0,00

4. Statutory reserves:

0,00

5. Miscellaneous reserves:

4.245.194,00

4.231.118,00

2.315.988,00

6. Differences due to capital adjustment to euros:

0,00

V. Profit or loss brought forward:

0,00

-11.256,00

-43.674,00

-38.174,00

1. Retained earnings:

0,00

2. Prior year losses:

0,00

-11.256,00

-43.674,00

-38.174,00

3. Partners' contributions so as to compensate losses:

0,00

VI. Profit or loss for the financial year:

73.364,00

66.189,00

1.973.784,00

32.417,00

-5.500,00

VII. Interim dividend paid:

0,00

VIII. Own shares for capital reduction:

0,00

B) Deferred income:

0,00

1. Capital grants:

0,00

2. Unrealised exchange gains:

0,00

3. Other deferred income:

0,00

4. Public revenues to distribute in several financial years:

0,00

C) PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

1. Provisions for pension fund and other similar obligations:

0,00

2. Provisions for taxes:

0,00

3. Other provisions:

0,00

4. Reversion fund:

0,00

D) LONG TERM LIABILITIES:

599.686,00

273.629,00

490.617,00

299.925,00

446.623,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

II. Amounts owed to credit institutions:

481.893,00

154.751,00

248.852,00

174.642,00

317.100,00

1. Loans and other liabilities:

459.160,00

154.751,00

248.852,00

174.642,00

317.100,00

2. Long-term liabilities from capital leases:

22.733,00

0,00

III. Debts with companies of the group and affiliated ones:

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Other creditors:

117.793,00

118.878,00

241.765,00

125.283,00

129.523,00

1. Long-term bills of exchange payable:

0,00

2. Other creditors:

116.100,00

3. Long term guarantees and deposits received:

0,00

4. Long term payables to public bodies:

1.693,00

2.778,00

125.665,00

9.183,00

13.423,00

V. Unpaid portion of equity investment:

0,00

1. Group companies:

0,00

2. Associated companies:

0,00

3. Third parties:

0,00

VI. Long term trade creditors:

0,00

E) SHORT TERM CREDITORS:

4.326.855,00

4.273.552,00

3.620.186,00

3.728.310,00

3.166.952,00

I. Issued debentures and other marketable securities:

0,00

1. Non-convertible debentures:

0,00

2. Convertible debentures:

0,00

3. Other debt securities:

0,00

4. Accrued interest on debentures and other debt securities:

0,00

II. Amounts owed to credit institutions:

2.496.752,00

2.538.255,00

1.832.592,00

2.071.699,00

2.181.233,00

1. Loans and other liabilities:

2.482.166,00

2.538.255,00

1.832.592,00

2.071.699,00

2.178.037,00

2. Accrued interest on liabilities with credit institutions:

0,00

3. Short-term liabilities from capital leases:

14.586,00

0,00

3.195,00

III. Short-term amounts owed to group and associated companies:

0,00

1. Amounts owed to group companies:

0,00

2. Amounts owed to associated companies:

0,00

IV. Trade creditors:

1.649.609,00

1.552.862,00

1.636.360,00

1.487.483,00

849.221,00

1. Advanced payments from customers:

4.398,00

2.970,00

0,00

20,00

0,00

2. Amounts owed for purchases of goods or services:

1.645.211,00

1.549.892,00

1.636.360,00

1.487.463,00

849.221,00

3. Debts represented by notes payable:

0,00

V. Other creditors:

180.494,00

182.434,00

151.233,00

169.127,00

136.499,00

1. Public bodies:

121.909,00

140.272,00

113.891,00

130.686,00

104.946,00

2. Bills of exchange payable:

0,00

3. Miscellaneous debts:

0,00

3.094,00

0,00

4. Wages and salaries payable:

58.585,00

42.162,00

37.342,00

35.347,00

31.553,00

5. Guarantees and deposits received at short term:

0,00

VI. Provisions:

0,00

VII. Prepayments and accrued income:

0,00

F) SHORT-TERM PROVISIONS FOR LIABILITIES AND CHARGES:

0,00

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

9.725.100,00

9.324.487,00

8.821.920,00

6.765.569,00

6.318.492,00

MERCANTILE REGISTRY.

EQUIVALENCIA

DEBIT

2016

2015

2014

2013

2012

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

9.174.067,00

8.313.318,00

9.112.924,00

6.918.584,00

6.265.072,00

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

0,00

19.788,00

65.104,00

0,00

52.531,00

A.2. Supplies:

5.810.520,00

5.253.619,00

5.699.829,00

4.326.685,00

3.820.131,00

a) Stock consumption:

3.465.334,00

2.895.508,00

2.370.402,00

1.256.294,00

1.073.210,00

b) Consumption of raw materials and miscellaneous consumable ones:

2.061.691,00

2.037.403,00

2.991.583,00

2.742.340,00

2.423.626,00

c) Miscellaneous external expenditure:

283.495,00

320.709,00

337.843,00

328.052,00

323.295,00

A.3. Staff costs:

2.197.289,00

2.043.184,00

1.771.153,00

1.624.592,00

1.511.620,00

a) Wages, salaries et al.:

1.744.606,00

1.604.907,00

1.392.934,00

1.279.323,00

1.215.522,00

b) Social security costs:

452.683,00

438.277,00

378.219,00

345.269,00

296.098,00

A.4. Depreciation expense:

195.078,00

65.591,00

52.607,00

65.027,00

61.913,00

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

-8.446,00

3.312,00

43.754,00

54.118,00

6.997,00

a) Stock provision variation:

0,00

b) Variation in provision and bad debt losses:

-8.446,00

3.312,00

43.754,00

54.118,00

6.997,00

c) Variation of other trade provisions:

0,00

A.6. Other operating charges:

872.266,00

820.307,00

897.840,00

691.026,00

655.103,00

a) External services:

830.893,00

783.952,00

734.775,00

656.273,00

619.151,00

b) Taxes:

41.373,00

36.355,00

163.065,00

34.753,00

35.951,00

c) Other operating expenses:

0,00

d) Allocation to revision fund:

0,00

A.I. OPERATING BENEFITS (B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6):

178.263,00

161.275,00

0,00

177.670,00

148.181,00

A.7. Financial and similar charges:

89.076,00

94.880,00

133.635,00

161.375,00

160.601,00

a) Due to liabilities with companies of the group:

0,00

b) Due to liabilities with associated companies:

0,00

c) Due to other debts.:

89.076,00

94.880,00

133.635,00

161.375,00

160.601,00

d) Losses from financial investments:

0,00

A.8. Changes in financial investment provisions:

0,00

A.9. Exchange losses:

0,00

694,00

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

0,00

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

90.905,00

71.850,00

0,00

16.599,00

0,00

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

0,00

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

0,00

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

0,00

A.13. Extraordinary expenses:

2.412,00

43.851,00

0,00

A.14. Expenses and losses of former financial years:

0,00

A.IV. EXTRAORDINARY PROFIT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14):

0,00

3.486.394,00

11.578,00

2.287,00

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

89.236,00

34.975,00

2.422.786,00

28.177,00

0,00

A.15. Corporation tax:

15.872,00

-31.214,00

449.002,00

-4.240,00

-4.517,00

A.16. Miscellaneous taxes:

0,00

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

73.364,00

66.189,00

1.973.784,00

32.417,00

0,00

MERCANTILE REGISTRY.

EQUIVALENCIA

CREDIT

2016

2015

2014

2013

2012

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

9.247.431,00

8.379.507,00

11.086.708,00

6.951.001,00

6.259.572,00

B.1. Net total sales:

9.110.274,00

8.347.817,00

7.575.210,00

6.900.542,00

6.237.137,00

a) Sales:

9.112.912,00

8.350.235,00

7.577.404,00

6.902.540,00

6.238.943,00

b) Rendering of services:

0,00

Returns and Rappel on sales:

-2.638,00

-2.417,00

-2.194,00

-1.998,00

-1.806,00

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

107.645,00

0,00

11.730,00

0,00

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

0,00

B.4. Miscellaneous operating income:

27.049,00

19.258,00

20.906,00

26.846,00

19.338,00

a) Auxiliary income and other from current management:

27.049,00

19.258,00

20.906,00

26.846,00

19.338,00

b) Grants:

0,00

c) Liabilities and charges provisions surplus:

0,00

B.I. PÉRDIDAS DE EXPLOTACIÓN (A.1+A.2+A.3+A.4+A.5-A.6-B.1-B.2-B.3-B.4):

0,00

934.171,00

0,00

B.5. Income from equity investment:

0,00

a) In companies of the group:

0,00

b) In associated companies:

0,00

c) Third parties:

0,00

B.6. Income from other marketable securities and long-term receivables:

0,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) From companies out of the group:

0,00

B.7. Miscellaneous interests or similar income:

727,00

5.432,00

3.680,00

305,00

810,00

a) From companies of the group:

0,00

b) From associated companies:

0,00

c) Miscellaneous interests:

727,00

5.432,00

3.680,00

305,00

810,00

d) Profit on financial investment:

0,00

B.8. Exchange positive differences:

992,00

23,00

518,00

0,00

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

87.358,00

89.425,00

129.437,00

161.070,00

160.485,00

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

0,00

1.063.608,00

0,00

12.304,00

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

744,00

6.976,00

3.466.631,00

0,00

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

0,00

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

0,00

B.12. Extraordinary income:

0,00

19.762,00

11.578,00

2.287,00

B.13. Income and profit of former financial years:

0,00

B.IV. NEGATIVE EXTRAORDINARY RESULTS (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13):

1.669,00

36.875,00

0,00

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

0,00

10.017,00

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

0,00

5.500,00

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

89.236,00

34.975,00

2.422.786,00

28.177,00

-10.017,00

2. Results adjustments.: 61200

282.684,00

148.063,00

-3.240.833,00

280.215,00

229.395,00

a) Fixed Assets Amortization (+).: 61201

195.078,00

65.591,00

52.607,00

65.027,00

61.913,00

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

0,00

43.754,00

54.118,00

6.997,00

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

-744,00

-6.976,00

-3.466.631,00

0,00

g) Financial income (-).: 61207

-727,00

-5.432,00

-3.680,00

-305,00

-810,00

h) Financial Expenses (+). : 61208

89.076,00

94.880,00

133.635,00

161.375,00

160.601,00

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

0,00

-518,00

0,00

694,00

3. Changes in current capital equity.: 61300

-555.764,00

688.013,00

-86.955,00

197.581,00

134.600,00

a) Stock (+/-).: 61301

-166.751,00

28.614,00

384.489,00

-187.454,00

279.259,00

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

-482.250,00

717.970,00

-1.204.595,00

-246.490,00

136.128,00

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

-1.569,00

-6.274,00

6.000,00

6.960,00

-4.808,00

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

94.806,00

-52.297,00

727.151,00

624.565,00

-275.979,00

4. Cash Flows from Other Operating Activities: 61400

-172.781,00

-216.938,00

-129.955,00

-171.956,00

-167.249,00

a) Interest payments (-). : 61401

-89.076,00

-94.880,00

-133.635,00

-161.375,00

-160.601,00

c) Interest collection (+). : 61403

727,00

5.432,00

3.680,00

305,00

810,00

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

-84.431,00

-127.490,00

0,00

-10.885,00

-7.458,00

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

-356.624,00

654.113,00

-1.034.958,00

334.018,00

186.728,00

6. Payments for investment (-).: 62100

-413.639,00

-2.843.004,00

-1.493.007,00

-62.227,00

-60.872,00

b) Intangible fixed assets. : 62102

-30.658,00

0,00

c) Fixed assets. : 62103

-411.445,00

-2.813.913,00

-1.493.007,00

-40.063,00

-60.872,00

e) Other financial assets. : 62105

28.464,00

-29.091,00

0,00

-22.164,00

0,00

7. Divestment payment collection (+). : 62200

14.459,00

0,00

5.000.000,00

0,00

c) Fixed assets. : 62203

0,00

5.000.000,00

0,00

e) Other financial assets. : 62205

14.459,00

0,00

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

-399.180,00

-2.843.004,00

3.506.993,00

-62.227,00

-60.872,00

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

0,00

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

325.393,00

568.935,00

-120.424,00

-248.897,00

-109.598,00

a) Issuance : 63201

366.896,00

663.035,00

350.000,00

0,00

258.381,00

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

366.896,00

663.035,00

350.000,00

0,00

254.481,00

5. Other debts (+). : 63206

0,00

3.900,00

b) Repayment and amortization of : 63207

-41.503,00

-94.100,00

-470.424,00

-248.897,00

-367.979,00

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

-41.503,00

-94.100,00

-470.424,00

-248.897,00

-367.979,00

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

0,00

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

325.393,00

568.935,00

-120.424,00

-248.897,00

-109.598,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

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

-430.412,00

-1.619.956,00

2.351.611,00

22.893,00

16.258,00

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

812.825,00

2.432.782,00

81.171,00

58.278,00

42.020,00

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

382.414,00

812.825,00

2.432.782,00

81.171,00

58.278,00

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:

-0,05 %

0,01 %

-0,19 %

0,06 %

75,65 %

-82,66 %

Net Financial Debt:

7,25

2,32

8,77

2,88

-17,37

-19,55

Cash Flow Yield:

-0,04 %

0,01 %

-0,17 %

0,03 %

74,66 %

-82,42 %

EBITDA over Sales:

4,10 %

11,95 %

2,72 %

10,42 %

50,79 %

14,69 %

Profitability

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

1,84 %

8,81 %

1,82 %

6,97 %

1,28 %

26,47 %

Total economic profitability:

1,82 %

4,89 %

1,39 %

3,20 %

30,96 %

52,83 %

Financial profitability:

1,51 %

7,24 %

1,39 %

4,15 %

9,16 %

74,56 %

Margin:

1,96 %

7,79 %

2,01 %

6,33 %

-2,58 %

23,05 %

Mark-up:

1,00 %

7,00 %

0,94 %

3,77 %

6,47 %

85,54 %

Solvency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,09

0,16

0,19

0,14

-53,53

16,41

Acid Test:

0,74

0,90

0,74

0,86

0,39

4,22

Working Capital / Investment:

0,06

0,03

0,05

0,03

32,99

10,77

Solvency:

1,14

1,21

1,10

1,18

3,40

2,28

Indebtedness

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

1,02

1,24

0,95

1,32

6,70

-5,93

Borrowing Composition:

0,14

1,05

0,06

1,03

116,46

1,81

Repayment Ability:

13,20

9,29

20,04

11,10

-34,16

-16,32

Warranty:

1,98

1,82

2,05

1,77

-3,22

2,78

Generated resources / Total creditors:

0,05

0,09

0,03

0,08

88,02

19,75

Efficiency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

1,17

1,91

1,11

1,80

5,30

6,15

Turnover of Collection Rights :

3,24

5,10

3,58

5,22

-9,48

-2,38

Turnover of Payment Entitlements:

3,71

3,55

3,49

3,68

6,16

-3,70

Stock rotation:

5,26

8,10

5,34

7,73

-1,51

4,87

Assets turnover:

0,94

1,13

0,90

1,10

3,96

2,78

Borrowing Cost:

1,81

2,33

2,09

2,45

-13,35

-4,71

> 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:

-0,05 %

-0,19 %

0,31 %

0,00 %

Net Financial Debt:

7,25

8,77

0,27

9,39

12,17

Cash Flow Yield:

-0,04 %

-0,17 %

0,27 %

0,00 %

EBITDA over Sales:

4,10 %

2,72 %

-11,64 %

3,52 %

3,37 %

Profitability

2016

2015

2014

2013

2012

Operating economic profitability:

1,84 %

1,82 %

28,83 %

2,64 %

2,35 %

Total economic profitability:

1,82 %

1,39 %

28,98 %

2,80 %

2,38 %

Financial profitability:

1,51 %

1,39 %

41,90 %

1,18 %

-0,20 %

Margin:

1,96 %

2,01 %

33,34 %

2,56 %

2,37 %

Mark-up:

1,00 %

0,94 %

31,63 %

0,24 %

-0,20 %

Solvency

2016

2015

2014

2013

2012

Liquidity:

0,09

0,19

0,67

0,02

Acid Test:

0,74

1,52

0,52

Working Capital / Investment:

0,06

0,05

0,39

0,02

0,04

Solvency:

1,14

1,10

1,95

1,04

1,08

Indebtedness

2016

2015

2014

2013

2012

Indebtedness level:

1,02

0,95

0,87

1,47

1,34

Borrowing Composition:

0,14

0,06

0,14

0,08

0,14

Repayment Ability:

13,20

20,04

-4,66

16,60

17,20

Warranty:

1,98

2,05

2,15

1,68

1,75

Generated resources / Total creditors:

0,05

0,03

0,49

0,02

Efficiency

2016

2015

2014

2013

2012

Productivity:

1,17

1,11

0,50

1,15

1,14

Turnover of Collection Rights :

3,24

3,58

2,49

3,75

3,90

Turnover of Payment Entitlements:

3,71

3,49

3,68

3,07

4,49

Stock rotation:

5,26

5,34

5,45

3,46

3,47

Assets turnover:

0,94

0,90

0,86

1,03

0,99

Borrowing Cost:

1,81

2,09

3,25

4,01

4,44

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

21/09/2017

Climesa estrena instalaciones

Companies related

Public Tenders and Works Won

Organisation that calls the tender:

EMPRESA MUNICIPAL D AIGUES I CLAVEGUERAM SA

Objective of Tender:

convoca concurso público para el suministro de 15.000 grandes recipientes a granel flexibles para productos no peligrosos (GRGF)

Date Awarded:

11/04/2016

Cost:

76.800,00 EURO.

Detail of Subsidies appearing in Balances Memories

Entity

ORGANISMO NO ESPECIFICADO

Status

CONCEDIDA

Amount Granted

12.306,33

Notes

El importe reflejado corresponde al imputado a resultados.

Research Summary

The subject was incorporated in May 1973 with a Shareholder Equity that amounted to Euro 400,000 Manufacture of flexible containers.

Answer to additional question

Family business. Design and manufacture of flexible containers, mainly aimed the collection of debris. Flexible containers, inflatable industrial bags, removable structures and multipurpose containers.

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 67.63
UK Pound	1	INR 89.70
Euro	1	INR 78.20
Euro	1	INR 78.44

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

Offices

Activity

Number of Employees

Chronological Summary

Breakdown of Owners' Equity

Updated Evolution of the Subscribed and Paid-in Capital

Founding Partners

Active Social Bodies

Historical Social Bodies

Executive board

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

Answer to additional question

Sources

Unit