11 / 20 Medium-Low Risk EXECUTIVE SUMMARY. EMPRESA INDIVIDUAL DE PRESENTACION Tax Number: T DUNS Number:

Transcription

1 EMPRESA INDIVIDUAL DE PRESENTACION Tax Number: T DUNS Number: Sole Proprietorship Report (Date:9/12/216 User:6638) EXECUTIVE SUMMARY Contact data Business Address: CALLE FUEROS, ZARAGOZA SARAGOSSA Branches: 1 Trade Risk Situation of the Company: Active Credit appraisal: 7, Rating INFORMA Active incidents: Yes 11 / 2 Medium-Low Risk Financial Information Balance sheet sales (215) (Own Sources) Balance sheet results (215) (Own Sources) Total Assets (215) (Own Sources) Business Information Activity beginning date: 1/4/1985 Activity (CNAE 29): Manufacture of electrical and electronic equipment for motor vehicles Sector Manufacturing Employees: 9 Corporate Structure Legal structure Due to its legal form, we can not supply information on the corporate structure. Legal Form: Sole Proprietor Due to its legal form, the company has no obligation to registered in the Mercantile Register (even if exceptionally there may be some Acts published in BORME). Latest press article: 5/6/214 - Expansión ( GENERAL INFORMATION ) INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 1 from 23

2 This report's latest data update was on 1/9/216 This company has been consulted 295 times in the last quarter, the last time on 1/12/216 INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 2 from 23

3 TRADE RISK Rating Rating INFORMA Trade Risk The Report with Collection service guarantees you extra-judicial management collection of unpaid invoices of this company issued up to Activate Credit appraisal Maximum Credit (from to 6,, ): Favourable to 7, Rating evolution Rating Rating Balance Exercise: 215 Immediate liquidity Excellent Indebtedness Very sligh Profitability Sufficient Soundness Excellent Performance Incidents Exceptional Business Trajectory Good Reasons of the last outstanding calculation in the note Date Change Resulting note Event INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 3 from 23

4 1/9/ Variation in the rating system with respect to legal incidences information 21/1/ New financial statements have been uploaded 29/6/ New financial statements have been uploaded 22/5/ One of our analysts has carried a detailed revision of all available information of the company 14/5/ Variation in the rating system with respect to legal incidences information Rating Informa Explanation Company Structure The company's capitalization degree determines that its structure is normal. This business can be classified as small according to its sales volume. It has registered a positive employees' numbers evolution. Performance and Incidences It appears that there are claims by the administration or legal demands registered against this company. Incidents Resumen Legal Actions and Extra-judicial Incidences: No legal actions or extra-judicial incidences registered at INFORMA D&B Creditor in the insolvency proceeding of: No significant element. Administrative Claims: 5 (last: 29/8/216, first: 1/9/211) With the Social Security: 4 With the Tax Authorities: With Other Institutions: 1 Latest Administrative Claims figures expressed in SOCIAL SECURITY SEIZURE Date Organization Amount 29/8/216 CENTRAL TREASURY FOR SOCIAL SECURITY URE ZARAGOZA 1.43,31 28/5/214 CENTRAL TREASURY FOR SOCIAL SECURITY URE 5/1 451, ENFORCEMENT Date Organization Amount 16/5/212 CENTRAL TREASURY FOR SOCIAL SECURITY URE ZARAGOZA 2.566, NOTIFICATION Date Organization Amount 15/11/212 FACTORY INSPECTION/ SOCIAL SECURITY DE ZARAGOZA 325,63 There are 4 administrative claims with the Social Security registered at INFORMA D&B OTHER INSTITUTIONS SEIZURE Date Organization Amount 1/9/211 TOWN/ CITY HALL DE ZARAGOZA 445, There is one administrative claim with Other Institutions registered at INFORMA D&B INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 4 from 23

5 FINANCIAL ELEMENTS Financial elements Balance-sheet analysis Figures given in 31/12/215 % Assets 31/12/214 % Assets 31/12/213 % Assets Activo A) NON CURRENT ASSETS ,76 12, ,92 11, ,99 14,49 B) CURRENT ASSETS ,72 87, ,18 88, ,83 85,51 Pasivo A) NET WORTH ,29 7, ,96 67, ,82 61,95 B) NON CURRENT LIABILITIES 7.985,21 5, ,22 4, ,6 3,98 C) CURRENT LIABILITIES ,98 24, ,92 27, ,4 34,7 1,5k 1,5k 1,k 1,k 5k 5k k k Current Assets Non current assets Net worth Non current liabilities Current liabilities Balance Sheet Comments The total assets of the company decreased,69 % between 214 and 215. In spite of the decrease in the amount of total assets, non current assets grew 2,86 %. Assets reduction contrasts with net worth growth of 3,22 %. Therefore, the company's indebtedness has reduced in 8,91 %. The total assets of the company decreased 5,78 % between 213 and 214. This decrease has been greater in non current assets that reduced in 22,75 %. Assets reduction contrasts with net worth growth of 3,5 %. Therefore, the company's indebtedness has reduced in 2,16 %. Profit and loss account analysis Figures given in 31/12/215 % Net Turnover 31/12/214 % Net Turnover 31/12/213 % Net Turnover Sales , , ,56 Gross margin ,91 23, ,88 27, ,1 27,9 EBITDA ,7 4, ,29 4, ,44 4,32 EBIT ,15 4, ,13 4, ,55 3,97 Net Result ,33 2, ,14 2, ,13 2,15 INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 5 from 23

6 Effective Tax Rate (%) 34,13 41,62 43, 1,5k 6k 1,k 5k 5k 4k k 3k -5k k Sales Gross margin EBITDA EBIT Net Result Profit and Loss Account Comments The sales figure of the company grew up,2 % between 214 and 215. The EBIT of the company decreased 1,29 % between 214 and 215. This evolution implies a reduction in the company's economic profitability The result of these variations is an increase of the company's Economic Profitability of,77 % in the analysed period, being equal to 3,95 % in the year 215. The Net Result of the company grew up 8,78 % between 214 and 215. The company's Financial Profitability has been negatively affected by the financial activities in comparison with EBITs behaviour The result of these variations is a profitability reduction of 6,71 % in the analysed period, being equal to 4,73 % in the year 215. The sales figure of the company grew up,9 % between 213 and 214. The EBIT of the company grew up 11,43 % between 213 and 214. This evolution implies an increase in the company's economic profitability. The result of these variations is an increase of the company's Economic Profitability of 16,32 % in the analysed period, being equal to 3,92 % in the year 214. The Net Result of the company grew up 12,32 % between 213 and 214. The company's Financial Profitability has been negatively affected by the financial activities in comparison with EBITs behaviour The result of these variations is a profitability increase of 6,51 % in the analysed period, being of 5,7 % in the year 214. Sectorial comparative Values table Balance Sheet Analysis: % over total assets Company (215) Sector Difference Assets A) Non current assets 12,3 42,34-3,4 B) Current assets 87,7 57,66 3,4 Liabilities A) Net worth 7,42 48,18 22,24 B) Non current liabilities 5,35 21,2-15,67 C) Current liabilities 24,23 3,81-6,58 Profit and loss account analysis: % on the total operating income Company (215) Sector Difference Sales 1, 93,57 6,43 INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 6 from 23

7 Gross margin 23,48 66,48-43, EBITDA 4,68 7,99-3,31 EBIT 4,32 5,36-1,4 Net result 2,6 3,44 -,84 Sector Composition Compared sector (CNAE 29): Manufacture of electrical and electronic equipment for motor vehicles Number of companies: 21 Size (Sales Figure): - 2,8,. Euros Comments on the sectorial comparative Compared with its sector, the assets of the company show a lower proportion of Non current assets. Specifically the difference with the sector average is 3,4 %. About liabilities composition the company resorts on a wider scale to self financing, being the proportion of Net Worth a 22,24 %. higher. As a consequence, external financing sources are less used by the company (22,24 % less than the sector) The proportion that the sales mean to the company's total ordinary income is 1, %; 6,43 % higher than the sector one. The company's EBIT was positive and was 4,32 % with regard to the total ordinary income, 1,4 % inferior to the one of the sector. The company's capacity to generate operating income is inferior than the one of the sector as its ratio EBIT/Sales is inferior (,4 versus,6). The company's Net Result was positive and equal to 2,6 % with regard to the total ordinary income,,84 % inferior to the one of the sector. The financial results and the tax impact have had a less negative impact on the net result of the company that in the sector. INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 7 from 23

8 BUSINESS INFORMATION Constitution Activity beginning date: 1/4/1985 Main Activity Informa Activity: Spare parts for automobiles CNAE Activity: Manufacture of electrical and electronic equipment for motor vehicles SIC Activity: Motor vehicle parts and accessories Public tenders File: 162/216 Contracting body: Consejo de Administración de ICEX España Exportación e Inversiones Superior body: OTRAS ENTIDADES DEL SECTOR PÚBLICO>SOCIEDADES, FUNDACIONES y CONSORCIOS ESTATALES>Ministerio de Economía y Competitivad>ICEX Contract type: Services Agreement's purpose: Acceso a la plataforma CARTO DB. Budget / amount of the awarding: 1, Contracting proceeding: Minor contract Description of the termination date: plazo de ejecución de 1 Años Source: Public Sector Contracting Platform (published on 16/6/216) There are 1 public tenders for this company registered at INFORMA D&B Employees Employees' evolution Latest employees figure: 9 (216) % of fixed employees: 66,67% % of temporary employees: 33,33% 1 Number of employees Employees Names and Brands Main Name: EMPRESA INDIVIDUAL DE PRESENTACION INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 8 from 23

9 LEGAL STRUCTURE Current structure data Legal Form: Sole Proprietor Legal Aspects Obligation to fill in Financial Statements: No Chamber census: Yes. Registered in I.A.E. (215) Press articles Press summary by type of information (last five years) Legal notices : Structural Data : 1 (Last: 18/12/213) Informative data : 1 (Last: 5/6/214) Financial Information : Negative information : 1 (Last: 12/12/212) Business lines : Information on grants and awardings : Historical press releases : 4 (Last: 9/12/29, first: 11/12/27) Latest press article published 5/6/214 EXPANSIÓN (PAG. 2) GENERAL INFORMATION Este empresario sigue con su estrategia de realizar nuevos equipos eléctricos y electrónicos para cualquier vehículo motor. Para ello, prevé realizar una inversión en sus instalaciones de Zaragoza, que consistirá en la ampliación de las mismas y el aumento de la plantilla. 18/12/213 EL PERIÓDICO DE ARAGÓN (PAG. 3) BRANCHES La compañía zaragozana EMPRESA INDIVIDUAL DE PRESENTACIÓN instalará en Calatayud una nueva fábrica en la que producirá componentes electrónicos para los nuevos modelos del fabricante automovilístico Seat. La nueva fábrica de la compañía en Calatayud se ubicará en una nave situada en el polígono industrial de La Charluca. EMPRESA INDIVIDUAL DE PRESENTACIÓN, dedicada a la fabricación de equipos eléctricos para automoción, invertirá medio millón de euros para poner en marcha esta nueva factoría, que espera iniciar su actividad en enero del próximo año. La fábrica supondrá la creación de 24 puestos de trabajo. 12/12/212 EXPANSIÓN (PAG. 2) WORK INCIDENTS Los sindicatos y esta Cía. tienen el 22/12/12 una nueva reunión para negociar la salida de los empleados del grupo, el 28% de la plantilla. Es la tercera reunión, pero los sindicatos esperan que la dirección del grupo presente ya las condiciones de este drástico ajuste. Los sindicaros esperan que la Cía.no aplique la reforma laboral en estas salidas. La EMPRESA INDIVIDUAL DE PRESENTACION realizará antes de julio de 215 su ajuste, con un calendario periódico de cumplimiento. There are 7 press articles at INFORMA D&B Addresses Addresses CURRENT LEGAL SEAT ADDRESS Address: CALLE FUEROS, ZARAGOZA SARAGOSSA Fax: INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 9 from 23

10 Branches Street Postal Code Town Province CALLE COMERCIO (NAV 15), MADRID Madrid There are 1 branches registered at INFORMA D&B INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 1 from 23

11 FINANCIAL INFORMATION Additional information The information contained in the Individual Filed Accounts of the current report come from own sources that have nothing to do with the Mercantile Register. Balance sheet Assets figures expressed in 31/12/215 % Assets 31/12/214 % Assets 31/12/213 % Assets A) NON CURRENT ASSETS ,76 12, ,92 11, ,99 14,49 I. Intangible assets 4.65,23, ,22,15 II. Tangible fixed assets ,31 8, ,26 7, ,1 6,98 III. Real-estate investments 48.76,22 3, ,44 3, ,89 7,51 IV. Long term investments in associated and affiliated companies V. Long Term Financial Investments VI. Assets by deferred taxes VII. Non current commercial debts B) CURRENT ASSETS ,72 87, ,18 88, ,83 85,51 I. Non-current assets maintained for sale II. Stocks ,23 4, ,21 5, ,9 7,29 III. Trade Debtors and other receivable accounts ,8 47, ,63 47, ,83 44,84 1. Clients for sales and services rendering ,39 38, ,39 37, ,83 34,57 b) Clients for sales and short term services rendering ,39 38, ,39 37, ,83 34,57 3. Other debtors ,41 9, ,24 9, , 1,27 IV. Short term investments in associated and affiliated companies V. Short term financial investments 25., 18,83 25., 18, ,64 18,24 VI. Short term periodifications VII. Cash and equivalents ,69 16, ,34 16, ,46 15,15 TOTAL ASSETS (A + B) ,48 1, ,1 1, ,82 1, Assets composition graphs INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 11 from 23

12 Assets composition per chapter 1 5 Current Assets Non current assets Non current Assets composition per epigraph Current Assets composition per epigraph Intangible assets Tangible fixed assets Real-estate investments Long Term investments in group and associated compan Long term financial investments Assets by deferred taxes Non current commercial debts Non-current assets maintained for sale Stocks Trade debtors and other receivable accounts Short term investments in group and associated compani Short term financial investments Short term periodifications Cash and equivalents Net Worth and Liabilities figures expressed in 31/12/215 % Assets 31/12/214 % Assets 31/12/213 % Assets A) NET WORTH ,29 7, ,96 67, ,82 61,95 A-1) Equity ,29 7, ,96 67, ,82 61,95 I. Capital 9.151,82 6, ,82 6, ,82 6,35 1. Authorized capital 9.151,82 6, ,82 6, ,82 6,35 II. Issue premium ,98 36,23 III. Reserves ,98 35, ,98 33,9 IV. (Net worth own shares and participations) V. Results from previous years ,16 25, ,2 23, ,89 2,1 VI. Other loans from partners VII. Exercise Result ,33 2, ,14 2, ,13 1,68 VIII. (Interim dividend) IX. Other net worth instruments A-2) Value changes adjustments A-3) Received legacies, grants and subventions B) NON CURRENT LIABILITIES 7.985,21 5, ,22 4, ,6 3,98 I. Long term provisions INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 12 from 23

13 II. Long term debts 7.985,21 5, ,22 4, ,6 3,98 1. Debts with bank entities 7.985,21 5, ,22 4, ,6 3,98 III. Long term debts with associated and affiliated companies IV. Liabilities by deferred taxes V. Long term periodifications VI. Non current trade creditors VII. Long term debts with special characteristics C) CURRENT LIABILITIES ,98 24, ,92 27, ,4 34,7 I. Liabilities related with non-current assets maintained for sale II. Short term provisions III. Short term debts ,23 9, ,13 9, , 1,3 1. Debts with bank entities ,23 9, ,13 9, , 1,3 IV. Short term debts with associated and affiliated companies V. Trade creditors and other payable accounts ,75 14, ,79 17, ,4 23,78 1. Suppliers ,84 1, ,58 14, ,89 21,6 b) Short term suppliers ,84 1, ,58 14, ,89 21,6 2. Other creditors 45.97,91 3, ,21 3, ,51 2,18 VI. Short term periodifications VII. Short term debts with special characteristics TOTAL NET WORTH AND LIABILITIES (A + B + C) ,48 1, ,1 1, ,82 1, Net worth and liabilities composition graphs Net worth and liabilities composition per chapter 1,5k 1,k 5k Net worth Non current liabilities Current liabilities k INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 13 from 23

14 Non current liabilities composition per epigraph Current Liabilities composition per epigraph Long term provisions Long term debts Long term debts with group and associated companies Liabilities by deferred taxes Long term periodifications Non current trade creditors Long term special debs Liabilities linked to non-current assets Short term provisions Short term debts Short term debts with group and associated companies Trade creditors and other payable accounts Short term periodifications Short term special debs Profit and Loss Account Profit and Loss Account figures expressed in 31/12/215 % Operating Income 31/12/214 % Operating Income 31/12/213 % Operating Income 1. Net Turnover ,27 1, ,23 1, ,56 1, 2. Variation in stocks of finished goods and works in progress 3. Works for its own assets 4. Supplies ,36-76, ,35-72, ,55-72,1 5. Other operating income 6. Labour cost ,22-11, ,29-11, ,81-11,6 7. Other operating costs ,99-7, ,3-11, ,76-12,52 8. Amortization of fixed assets -4.65,55 -, ,16 -, ,89 -,35 9. Allocation of subventions on non financial investments and other 1. Provisions excess 11. Deterioration and result for fixed assets disposal 12. Negative difference of businesses combinations 13. Other results A) OPERATING RESULT ( ) ,15 4, ,13 4, ,55 3, Financial income 3.16,22, ,11,19 969,91,9 b) Other financial income 3.16,22, ,11,19 969,91,9 15. Financial expenses -7.84,93 -, ,88 -, ,77 -, Reasonable value variation on financial instruments 17. Exchange differences INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 14 from 23

15 17. Exchange differences 18. Deterioration and result for disposal of financial instruments 19. Other financial income and expenses B) FINANCIAL RESULT ( ) -4.68,71 -, ,77 -, ,86 -,19 C) RESULT BEFORE TAXES (A + B) 44.23,44 3, ,36 4, ,69 3,78 2. Taxes on profits ,11-1, ,22-1, ,56-1,63 D) EXERCISE RESULT (C + 2) ,33 2, ,14 2, ,13 2,15 Profit and Loss Account composition graphs Profit and loss account relative weigh per epigraph evolution Supplies Change in stocks Other operating costs Labour cost Amortization of fixed assets Deterioration and result for fixed assets disposal Other expenses / income Financial result Taxes on profits Discontinued operations Net result Net worth changes status Status of recognized income and expenses figures expressed in 31/12/215 31/12/214 31/12/213 A) PROFIT AND LOSS ACCOUNT RESULT , , ,13 INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH I. For valuation of financial instruments II. Cash flow coverage III. Received legacies, grants and subventions IV. For actuarial profits and losses and other adjustments V. Non-current assets and related liabilities, maintained for sale VI. Conversion differences VII. Tax effect B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH ((I + II + III + IV + V + VI + VII) PROFIT AND LOSS ACCOUNT TRANSFERS VIII. For valuation of financial instruments INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 15 from 23

16 IX. Cash flow coverage X. Received legacies, grants and subventions XI. Non-current assets and related liabilities, maintained for sale XII. Conversion differences XIII. Tax effect C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI + XII + XIII) TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) , , ,13 Total net worth changes status figures expressed in AUTHORIZED CAPITAL ISSUE PREMIUM RESERVES RESULTS FROM PREVIOUS EXERCISES FINAL ACCOUNT BALANCE OF EXERCISE (212) 9.152, , , I. Adjustments by change of criteria in the exercise (212) II. Adjustments by errors in the exercise (212) ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (213) 9.152, , , I. Total recognized income and expenses II. Operations with partners or owners III. Other net worth variations , 2. Other variations , FINAL ACCOUNT BALANCE OF EXERCISE (213) 9.152, , , I. Adjustments by change of criteria in the exercise (213) II. Adjustments by errors in the exercise (213) ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (214) 9.152, , , I. Total recognized income and expenses II. Operations with partners or owners III. Other net worth variations , 2. Other variations , FINAL ACCOUNT BALANCE OF EXERCISE (214) 9.152, , , I. Adjustments by change of criteria in the exercise (214) II. Adjustments by errors in the exercise (214) ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (215) 9.152, , , I. Total recognized income and expenses II. Operations with partners or owners INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 16 from 23

17 III. Other net worth variations , 2. Other variations , EXERCISE FINAL ACCOUNT BALANCE (215) 9.152, , , EXERCISE RESULT TOTAL FINAL ACCOUNT BALANCE OF EXERCISE (212) , 855.9, I. Adjustments by change of criteria in the exercise (212) II. Adjustments by errors in the exercise (212) ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (213) , 855.9, I. Total recognized income and expenses , , II. Operations with partners or owners III. Other net worth variations , 2. Other variations , FINAL ACCOUNT BALANCE OF EXERCISE (213) , , I. Adjustments by change of criteria in the exercise (213) II. Adjustments by errors in the exercise (213) ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (214) , , I. Total recognized income and expenses , , II. Operations with partners or owners III. Other net worth variations , 2. Other variations , FINAL ACCOUNT BALANCE OF EXERCISE (214) , 95.72, I. Adjustments by change of criteria in the exercise (214) II. Adjustments by errors in the exercise (214) ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (215) , 95.72, I. Total recognized income and expenses , , II. Operations with partners or owners III. Other net worth variations , 2. Other variations , EXERCISE FINAL ACCOUNT BALANCE (215) , , Net Worth composition graph Capital Issue premium Reserves Net worth own shares and participations Results from previous years Other loans from partners Exercise Result Interim dividend Other net worth instruments Value changes adjustments Received legacies, grants and subventions Balance and Indebtedness INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 17 from 23

18 Equilibrium and Indebtedness Graphics: Financial Balance - Working Capital 2 1 Working Capital Non current assets Current assets Net worth Non current liabilities Current liabilities Assets Liabilities Financial Balance - Working Capital Evolution Debt evolution 1,k k k Working capital Working capital ratio Interest Coverage Debt Service Coverage Comments on financial balance and indebtedness In 215 the assets of the company were formed by 12,3 % of non current assets and in 87,7 % of current assets. This assets were financed in 7,42 % with own capitals, in a 5,35 % with long term debt and in a 24,23% with short term debt. The result of this financial structure is a working capital positive and equal to ,74 euros, which is equivalent to a proportion of 63,46 % of the total assets of the company. This measure has increased with respect to the previous exercise in 4,31 % having also increased its proportion with respect to the total assets of the company. The improvement between 214 and 215has been due to mainly to current liabilities reduction. In 214 the assets of the company were formed by 11,88 % of non current assets and in 88,12 % of current assets. This assets were financed in 67,75 % with own capitals, in a 4,55 % with long term debt and in a 27,7% with short term debt. The result of this financial structure is a working capital positive and equal to ,26 euros, which is equivalent to a proportion of 6,42 % of the total assets of the company. This measure has increased with respect to the previous exercise in 1,67 % having also increased its proportion with respect to the total assets of the company. The improvement between 213 and 214has been due to mainly to current liabilities reduction. In 213 the assets of the company were formed by 14,49 % of non current assets and in 85,51 % of current assets. This assets were financed in 61,95 % with own capitals, in a 3,98 % with long term debt and in a 34,7% with short term debt. The result of this financial structure is a working capital positive and equal to ,43 euros, which is equivalent to a proportion of 51,44 % of the total assets of the company. Debt service coverage decreased 3,45 % between 214 and 215 which implies an improvement in the company's capacity to face indebtedness through liquid resources generated by its activity. Debt service coverage decreased 13,62 % between 213 and 214 which implies an improvement in the company's capacity to face indebtedness through liquid resources generated by its activity. Interest Coverage decreased 28,2 % between 214 and 215 which implies a deterioration in the capacity of the company to generate resources to face debt service (financial charge). The deterioration between 214 and 215has been due to a reduction in the operating result and an increase in financial expenses. Interest Coverage decreased 34,12 % between 213 and 214 which implies a deterioration in the capacity of the company to generate resources to face debt service (financial charge). The deterioration between 213 and 214 has been mainly due to an increase in financial expenses. Ratios Ratios INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 18 from 23

19 31/12/215 Variation % 31/12/214 Variation % 31/12/213 Balance ratios Working capital ( ) ,74 4, ,26 1, ,43 Working capital ratio,64 6,67,6 17,65,51 Soundness Ratio 5,72,35 5,7 33,18 4,28 Average Collection Period (days) 164, ,88 16 Average Payment Period (days) 56-27, , Liquidity ratios Current Ratio (%) 361,9 13,75 318,14 26,76 25,98 Quick Ratio (%) 146,15 14,74 127,38 3,1 97,98 Debt ratios Borrowing percentage (%) 15,26 6,64 14,31,21 14,28 External Financing Average Cost,4 33,33,3 5,,2 Debt Service Coverage 6,1-3,48 6,32-13,66 7,32 Interest Coverage 6,82-28,21 9,5-34,7 14,41 General and activities ratios Auto financing generated by sales (%) 2,97 9,59 2,71 8,4 2,5 Auto financing generated by Assets (%) 2,5 1,13 2,27 16,41 1,95 Breakdown Point 1,5, 1,5,96 1,4 Average Sales Volume per Employee ,41, ,65, ,45 Average Cost per Employee 16.32,53 1, ,4 5, ,35 Assets Turnover,84,,84 7,69,78 Inventory Turnover (days) 24-25, 32-31,91 47 Results ratios Return on Assets (ROA) (%) 3,64 -,55 3,66 18,6 3,1 Operating Profitability (%) 3,95,77 3,92 16,32 3,37 Return on Equity (ROE) (%) 4,73-6,71 5,7 6,51 4,76 Ratios comments The economic profitability on 215 reached a positive level of 3,64 %. The economic profitability in the year 215 has reduced from 3,66 % to 214 up to 3,64 % of 215 even if it remains positive. This fall has taken place in spite of the positive contribution of assets turnover that has evolved from,84 up to its current level of,84. The financial profitability on 215 reached a positive level of 4,73 %. The company's financial profitability has been positively affected by its financial structure. The economic profitability on 214 reached a positive level of 3,66 %. The economic profitability in the year 214 has increased from 3,1 % to 213 up to 3,66 % of 214. This growth has contributed to the increase in assets turnover, reaching in the last period,84 in comparison with,78 of 213. The financial profitability on 214 reached a positive level of 5,7 %. The company's financial profitability has been positively affected by its financial structure. INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 19 from 23

20 SECTORIAL ANALYSIS Balance sheet and financial balance BALANCE-SHEET ANALYSIS : % on the total assets Company (215) Sector Difference Assets A) Non current assets 12,3% 42,34% -3,4% B) Current assets 87,7% 57,66% 3,4% Liabilities A) Net worth 7,42% 48,18% 22,24% B) Non current liabilities 5,35% 21,2% -15,67% C) Current liabilities 24,23% 3,81% -6,58% Sectorial financial balance comparison Financial Balance - Working Capital Company Financial Balance - Working Capital Sector 1 1 en (%) 5 Working Capital en (%) 5 Working Capital Assets Liabilities Assets Liabilities Non current assets Current assets Net worth Non current liabilities Current liabilities Non current assets Current assets Net worth Non current liabilities Current liabilities Comments of the sectorial analysis In 215 the assets of the company were formed by 12,3 % of non current assets and in 87,7 % of current assets. In the sector, the proportion of non current assets was of 42,34 % and the proportion of current assets was of 57,66 %. The assets were financed in the company in 7,42 % with own capitals, 5,35 % with long term debt and in 24,23 % with short term debt. In the sector, the self financing represented a 48,18 %. On the other hand long term debts represented in the sector an average of 21,2 % of the financing. Short term liabilities represented in the sector an average of 3,81 % of the financing. The result of this company's financial structure is a working capital that represents 63,46 % of the total assets; in the sector, this same proportion is 26,85 %. Results analytical Account Figures expressed in % Company (215) Sector Difference Net Turnover 1,% 93,57% 6,43% Other operating income,% 6,43% -6,43% OPERATING INCOME 1,% 1,%,% Supplies -76,52% -33,62% -42,9% INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 2 from 23

21 Variation in stocks of finished goods and works in progress,%,1% -,1% GROSS MARGIN 23,48% 66,48% -43,% Other operating costs -7,13% -15,15% 8,2% Labour cost -11,67% -43,84% 32,17% GROSS OPERATING RESULT 4,68% 7,49% -2,81% Amortization of fixed assets -,36% -2,63% 2,27% Deterioration and result for fixed assets disposal,%,5% -,5% Other expenses / income,%,44% -,44% NET OPERATING RESULT 4,32% 5,36% -1,4% Financial result -,36% -,61%,25% RESULT BEFORE TAX 3,95% 4,75% -,8% Taxes on profits -1,35% -1,3% -,5% RESULT COMING FROM CONTINUED OPERATIONS 2,6% 3,44% -,84% Exercise result coming from discontinued operations net of taxes,%,%,% NET RESULT 2,6% 3,44% -,84% Analytical account of results composition graphs Company-sector profit and loss account relative weighs per epigraph Company-sector profit and loss account partial results relative weighs per epigraph Company Sector 25 Net Turnover Other operating income Supplies Variation in stocks of finished goods and works in p Other operating costs Labour cost Amortization of fixed assets Deterioration and result for fixed assets disposal Financial result NET RESULT Company GROSS MARGIN GROSS OPERATING RESULT NET OPERATING RESULT NET RESULT Sector Main Ratios Figures given in Company (215) PTILE25 PTILE5 PTILE75 BALANCE RATIOS Working capital ( ) , , , ,68 Working capital ratio,64,1,18,37 INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 21 from 23

22 Soundness Ratio 5,72,74 1,27 2,15 Average Collection Period (days) Average Payment Period (days) LIQUIDITY RATIOS Current Ratio (%) 361,9 9,27 14,8 286,8 Quick Ratio (%) 146,15 14,41 33,8 14,2 DEBT RATIOS Borrowing percentage (%) 15,26 8,25 24,97 39,94 External Financing Average Cost,4,,2,4 Debt Service Coverage 6,1,32 2,1 3,81 Interest Coverage 6,82-1,27 8,64 44,3 GENERAL ACTIVITY RATIOS Auto financing generated by sales (%) 2,97 2,69 6,38 15,8 Auto financing generated by Assets (%) 2,5 2,26 5,53 12,6 Breakdown Point 1,5,98 1,4 1,8 Average Sales Volume per Employee , , , ,46 Average Cost per Employee 16.32, , , ,75 Assets Turnover,84,57 1, 1,93 Inventory Turnover (days) RESULTS RATIOS Return on Assets (ROA) (%) 3,64 -,69 3,99 13,6 Operating Profitability (%) 3,95 2,25 5,8 16,5 Return on Equity (ROE) (%) 4,73-1,29 16,97 33,73 LATEST CHANGES Date Report Section Change description 1/9/216 Trade Risk Incidents ( Alta Administrative Claim - SEIZURE (29/8/216)) 17/6/216 Business Information Activity (Public tenders) 6/6/216 Business Information Number of employees 21/1/216 Financial Information Loaded Individual balance sheet (Own Sources - 31/12/215) 21/1/216 Business Information Number of employees 9/12/215 Business Information Number of employees 29/6/215 Financial Information Loaded Individual balance sheet (Own Sources - 31/12/214) 22/5/215 Trade Risk Rating (Situation) During the past 24 months, 8 changes have been registered for this company. ADDITIONAL INFORMATION This company has been consulted the last time on , and 199 times in total. INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 22 from 23

23 In case you need additional information do not hesitate to contact our Customer Service: Telephone: Fax: This report is for internal use and may not be reproduced, published or re-distributed partial or totally in any manner without the permission of INFORMA D&B S.A(SME) Due to the great quantity of information sources used in preparing this report, INFORMA D&B S.A.(SME) does not guarantee the absolute correctness of the information, and it is not responsible of its use for any specific purpose. We also indicate that this report may not be the only element to consider in your decision making. The information about individuals in this report only refers to their business or professional activity and it may be used exclusively inside the company they represent or work for. INFORMA D&B S.A.(SME), leaders in Business, Financial, Sectorial and Marketing information. Avenida de la Industria, 32 ( Alcobendas - MADRID) INFORMA D&B - PDF Informa Autónomo - EMPRESA INDIVIDUAL DE PRESENTACION Page: 23 from 23