|
 |
 |
|
Sample Credit Report
This is a sample credit report on a Bulgarian company
|
|
|
KAOLIN AD
ul. Dabrava 8
BG-7038 Senovo
tel.: +359-2-9376101, 9376200, 9816007
+359-84-25357, 27175
fax: +359-2-9815354, +359-84-34190
e-mail: office@kaolin.bg
internet: www.kaolin.bg
Short profile statistic code 827182866
Established 1924
Legal status AD
Activity (14.22) Mining of clays and
kaolin
Number of
Employees 1.089 (31.12.2005)
Financial
statement as at 30.06.2005
Turnover BGN 31.661.000
Profit/Loss BGN 5.796.000
Mode of payment (111) use of cash discount
Credit opinion (111) business connections at a
larger scope permissible
Credit limit EUR 600.000
Legal Form AD (joint stock company)
Establishment 1924
1992 change of the legal status to EAD (single
person joint stock company)
2000 change of the legal status to AD (joint
stock company)
28.12.2005 amendments in subject's management
Registration registered with the district court in Razgrad on
14.04.1989, Reg. No. 5/1989
re-registered with the district court in Razgrad
on 10.08.1992, Reg. No. 72/1992
re-registered with the district court in Ruse on
25.04.2003, Reg. No. 455/2003
last entry on 28.12.2005
VAT-code 1181010688
statistic code 827182866
Share Capital BGN 3.403.230
Shareholders ALFA FINANS HOLDING AD - Sofia 1000
statistic code 130110044 80,000%
GRUMERCY FINANCIAL SERVICES, US 12,500%
small shareholders 7,500%
Management Executive Director:
Aleksandar Georgiev Prokopiev
born on 06.05.1966
Members of the Board of Directors:
Konstantin Vasilev Nenov, born on 27.12.1971 -
ALFA ENERGY EOOD - Sofia 1000, statistic code 130764866,
represented by Ivan Valev Slivov
Anelia Petkova Angelova Tumbeva, born on
10.04.1971
Dimitar Angelov Angelov, born on 05.01.1970
Ivaylo Manoilov Timanov, born on 15.06.1970
Andrian Marinov Valchev, born on 27.01.1969
Vasil Marinov Vasilev, born on 28.04.1967
Pencho Ivanov Penchev, born on 09.08.1962
Supervisory Board Stanimir Krastev Krastev, born on 29.03.1969
Ivo Georgiev Prokopiev, born on 10.07.1971
Ivan Denchev Nenkov, born on 05.10.1970
Activity Mining of clays and kaolin (14.22)
Operation of gravel and sand pits (14.21)
Quarrying of sand and clay (14.2)
mining, refining and trade in industrial minerals
- silica sand, kaolin, chamotte, feldspar,
dolomite and limestone
ISO 9001
Business premises registered office, production buildings and
warehouses:
ul. Dabrava 8, 7038 Senovo
production buildings and warehouses:
9143 Ignatievo, 9960 Kaolinovo, 7080 Vetovo
office:
ul. Ivan Vazov 30, 1000 Sofia
mines:
7080 Vetovo, 9798 Srednya, 9960 Kaolinovo,
6799 Doyrantsi, 9126 Dabravino
fields in Sara Gyol, Sennicite (8th section),
Kirishlika, Sara Gyol (21th section)
dressing factories in Senovo, Vyatovo and
Kaolinovo
subject started their own gasmain of 27 km
Participations KERAMICHNI MATERIALI EOOD - Sofia 1000
BG, statistic code: 131050301 100,000%
MINERAL IN EAD, statistic code:
131383252 100,000%
BRP INVEST EOOD, statistic code:
131429963 100,000%
USTREM 2001 AD - Sofia 1000 BG,
statistic code: 121855377 85,530%
MAGMA 97 AD - Sofia 1000 BG, statistic
code: 126103211 77,680%
JUGO KAOLIN d.o.o., Serbia
Personnel 2005 1.089 persons
2004 1.041 persons
2003 1.064 persons
2002 1.055 persons
2001 1.044 persons
2000 1.183 persons
Turnover 01.01.-30.06.2005 BGN 31.661.000
2004 BGN 58.755.000
2003 BGN 46.110.000
Bankers UNITED BULGARIAN BANK AD, head office at ul. Sveta
Sofia 5, BG-1301 Sofia tel.: +359-2-8112375,
+359-2-8112800, fax: +359-2-9880822,
+359-9132-2608, telex: 25092, email:
info@sof.ubb.bg
(bank code 20080023)
UNITED BULGARIAN BANK AD, branch at ul. Sv. Sv.
Kiril i Metodiy 4, BG-7200 Razgrad tel.:
+359-84-660604, fax: +359-84-44248
(bank code 20073700)
CITIBANK NA, branch at bul. Maria Luiza 2, et 5, BG-1000
Sofia tel.: +359-2-9175100, +359-2-9175150, fax:
+359-2-9819588, +359-2-9819914, telex: 22120
(bank code 25092502)
RAIFFEISENBANK BULGARIA EAD, headoffice at ul. Gogol 18-20,
BG-1504 Sofia tel.: +359-2-91985101, fax:
+359-2-9434528, telex: 22006
(bank code 15591550)
BULBANK AD, head office at pl. Sveta Nedelya 7,
BG-1000 Sofia tel.: +359-2-9232111, fax:
+359-2-9884636, telex: 22031
(bank code 62196214)
Mode of Payment use of cash discount (111)
Credit opinion business connections at a larger scope permissible
(111)
Balance sheet
30.06.2005 31.12.2004 31.12.2003
Unconsolidated Accounts 6 months 12 months 12 months
BGN BGN BGN
Fixed assets 25.550.000 21.448.000 19.216.000
- intangible fixed assets 21.000 14.000 130.000
- tangible fixed assets 19.834.000 17.974.000 16.559.000
- other fixed assets
(including financial fixed
assets) 5.695.000 3.460.000 2.527.000
Current assets 46.196.000 35.482.000 22.683.000
- stocks 5.636.000 3.444.000 2.241.000
- debtors 36.570.000 27.106.000 17.964.000
- other current assets
(including investments and
cash) 3.990.000 4.932.000 2.478.000
- cash and cash equivalent 1.966.000 2.297.000 2.478.000
Total assets 71.746.000 56.930.000 41.899.000
Shareholders funds 34.656.000 28.864.000 24.373.000
- capital 3.403.000 3.403.000 3.403.000
- other shareholders funds
(including reserves) 31.253.000 25.461.000 20.970.000
Non current liabilities 10.211.000 10.576.000 10.553.000
- long term debt 10.211.000 10.576.000 10.231.000
- other non current
liabilities (including
provisions) 0 0 322.000
Current liabilities 26.879.000 17.490.000 6.973.000
- loans 15.613.000 7.634.000 2.461.000
- creditors 5.988.000 4.257.000 0
- other current liabilities 5.278.000 5.599.000 4.512.000
Total shareholders funds and
liabilities 71.746.000 56.930.000 41.899.000
Working capital 36.218.000 26.293.000 20.205.000
Number of employees NA 1.041 1.064
Profit/loss account
30.06.2005 31.12.2004 31.12.2003
Unconsolidated Accounts 6 months 12 months 12 months
BGN BGN BGN
Operating revenue 31.715.000 58.863.000 46.110.000
Sales 31.661.000 58.755.000 46.110.000
Cost of goods sold NA NA NA
Gross profit NA NA NA
Other operating expenses NA NA NA
Operating Profit/Loss 6.297.000 5.830.000 3.952.000
Financial revenue 619.000 1.403.000 719.000
Financial expenses 1.120.000 2.325.000 2.446.000
Financial Profit/Loss -501.000 -922.000 -1.727.000
Profit/Loss before tax 5.796.000 4.908.000 2.225.000
Taxation 0 964.000 545.000
Profit/Loss after tax 5.796.000 3.944.000 1.680.000
Extraordinary revenue 0 0 0
Extraordinary expenses 0 0 0
Extraordinary Profit/Loss 0 0 0
Profit/Loss for the period 5.796.000 3.944.000 1.680.000
Material costs 6.737.000 12.891.000 11.759.000
Cost of employees 3.337.000 7.599.000 6.076.000
Depreciation 1.348.000 2.562.000 2.225.000
Interest paid 647.000 985.000 666.000
Cash-flow 7.144.000 6.506.000 3.905.000
Added value 11.128.000 16.054.000 11.192.000
Ratios
Current ratio 1,72 2,03 3,25
Liquidity ratio 1,51 1,83 2,93
Shareholders liquidity ratio 3,39 2,73 2,31
Solvency ratio (%) 48% 51% 58%
Gearing (%) 75% 63% 53%
Shareholders funds per
Employee NA 27.727 22.907
Working capital per Employee NA 25.257 18.990
Total assets per Employee NA 54.688 39.379
Profit Margin (%) 18% 8% 5%
Return on shareholders funds
(%) 17% 17% 9%
Return of Capital Employed
(%) 16% 19% 13%
Return of Total Assets (%) 8% 9% 5%
Interest Cover 9,73 5,92 5,93
Stock turnover 5,63 17,09 20,58
Collection period (days) 416 166 140
Credit period (days) 68 26 0
Net assets turnover 0,71 1,49 1,32
Staff costs / Turnover (%) 21% 22% 26%
Turnover per Employee (ths) NA 56.545 43.336
Average cost per Employee
per year NA 7.300 5.711
Profit per Employee NA 4.715 2.091
Full balance sheet according to Bulgarian Accounting standards
30.06.2005 31.12.2004 31.12.2003
Unconsolidated Accounts 6 months 12 months 12 months
BGN BGN BGN
ASSETS
A. Fixed assets
I. Tangible Fixed Assets
1. Land 3.123.000 3.031.000 3.093.000
2. Buildings 3.074.000 2.824.000 3.011.000
3. Machinery 3.870.000 2.869.000 2.549.000
4. Equipment 6.984.000 7.274.000 7.041.000
5. Motor vehicles 1.088.000 994.000 474.000
6. Herds and flocks 0 0 0
7. Other tangible fixed
assets 1.695.000 0 76.000
8. Expenditures for
acquisition of tangible
fixed assets 0 982.000 315.000
TANGIBLE FIXED ASSETS
TOTAL 19.834.000 17.974.000 16.559.000
II. Intangible Fixed Assets
1. Property rights 0 0 NA
2. Software 13.000 5.000 NA
3. Research and
development products 0 0 NA
4. Other intangible fixed
assets 8.000 9.000 NA
INTANGIBLE FIXED ASSETS
TOTAL 21.000 14.000 130.000
III. Financial Assets
1. Participations and
shares in: 5.690.000 3.455.000 NA
- subsidiaries 5.690.000 3.455.000 NA
- joint ventures 0 0 NA
- affiliated companies 0 0 NA
- other companies 0 0 NA
2. Realties slated for
investment projects 0 0 NA
3. Other long-term
securities 0 0 NA
4. Long-term receivables
from: 5.000 5.000 NA
- affiliated companies 0 0 NA
- trade loans 0 0 NA
- other long-term
receivables 5.000 5.000 NA
FINANCIAL ASSETS TOTAL 5.695.000 3.460.000 2.527.000
IV. Goodwill
1. Positive goodwill 0 0 0
2. Negative goodwill 0 0 0
GOODWILL TOTAL 0 0 0
V. Accruals 0 0 0
FIXED ASSETS TOTAL 25.550.000 21.448.000 19.216.000
B. CURRENT ASSETS
I.Stocks
1. Materials 1.933.000 1.440.000 NA
2. Production 2.282.000 1.115.000 NA
3. Goods 1.421.000 889.000 NA
4. Young animals and
animals to be fattened 0 0 NA
5. Small productive
animals 0 0 NA
6. Goods in course of
production 0 0 NA
7. Other stocks 0 0 NA
TOTAL STOCKS 5.636.000 3.444.000 2.241.000
II. Current receivables
1. Receivables from
affiliated companies 9.449.000 9.466.000 NA
2. Receivables from
clients and suppliers 14.660.000 12.135.000 NA
3. Receivables from
granted trade loans 9.026.000 3.571.000 NA
4. Court and adjudged
claims receivables 4.000 4.000 NA
5. Tax reimbursments 1.240.000 286.000 NA
6. Other current
receivables 2.191.000 1.644.000 NA
TOTAL CURRENT RECEIVABLES 36.570.000 27.106.000 17.964.000
III. Current Financial Assets
1. Financial Assets in
affiliated companies 0 0 NA
2. Own debentures acquired 0 0 NA
3. Current securities 0 0 NA
4. Precious metals and
gems 0 0 NA
5. Other current financial
assets 0 622.000 NA
TOTAL CURRENT FINANCIAL
ASSETS 0 622.000 0
IV. Liquid means
1. Liquid means in cash 1.328.000 458.000 NA
- thereof equivalent
foreign currency value in
BGN 0 0 NA
2. Bank accounts 574.000 1.294.000 NA
- thereof equivalent
foreign currency value in
BGN 0 0 NA
3. Blocked liquid means 0 0 NA
- thereof equivalent
foreign currency value in
BGN 0 0 NA
4. Cash equivalents 64.000 545.000 NA
TOTAL LIQUID MEANS 1.966.000 2.297.000 2.478.000
V. Accruals 2.024.000 2.013.000 0
TOTAL CURRENT ASSETS 46.196.000 35.482.000 22.683.000
TOTAL ASSETS 71.746.000 56.930.000 41.899.000
C. OFF BALANCE ASSETS 0 0 0
30.06.2005 31.12.2004 31.12.2003
Unconsolidated Accounts 6 months 12 months 12 months
BGN BGN BGN
EQUITY AND LIABILITIES
A. Equity
I. Capital
1. Subscribed capital 3.403.000 3.403.000 3.403.000
- share capital in joint
stock companies 0 3.403.000 NA
- shares quoted at stock
exchanges 0 3.403.000 NA
- shares not quoted at
stock exchanges 0 0 NA
- other share capital
classes 3.403.000 0 NA
2. not paid capital 0 0 NA
3. own shares acquired 0 0 NA
TOTAL CAPITAL 3.403.000 3.403.000 3.403.000
II. Reserves
1. Share premium account 0 0 NA
2. Revaluation reserves 2.280.000 2.280.000 NA
3. Purposive reserves 17.417.000 17.421.000 NA
- general reserves 0 0 NA
- special reserves 4.768.000 4.768.000 NA
- other reserves 12.649.000 12.653.000 NA
TOTAL RESERVES 19.697.000 19.701.000 18.862.000
III. Balance Result
1. Accumulated result 5.760.000 1.816.000 424.000
- accumulated profit 5.760.000 1.816.000 424.000
- accumulated loss 0 0 0
2. Profit of the period 5.796.000 3.944.000 1.684.000
3. Loss of the period 0 0 0
TOTAL BALANCE RESULT 11.556.000 5.760.000 2.108.000
TOTAL EQUITY 34.656.000 28.864.000 24.373.000
B. LONG-TERM LIABILITIES
I. Long-term debts
1. Towards affiliated
companies 0 0 NA
2. Towards financial
institutes 0 0 NA
- thereof towards banks 0 0 NA
3. Trade loans 0 365.000 NA
4. Debenture loans 9.779.000 9.779.000 NA
5. Deferred taxation 0 0 NA
6. Other long-term debts 432.000 432.000 NA
TOTAL LONG-TERM DEBTS 10.211.000 10.576.000 10.231.000
II. Accrued liabilities and
financings 0 0 322.000
TOTAL LONG-TERM LIABILITIES 10.211.000 10.576.000 10.553.000
C. Current Liabilities
I. Current debts
1. Liabilities towards
affiliated companies 205.000 101.000 0
2. Liabilities towards
financial institutes 14.301.000 7.599.000 2.210.000
- thereof towards banks 0 0 0
3.Liabilities towards
suppliers 5.988.000 4.257.000 0
4. Trade loans 1.312.000 35.000 251.000
5. Liabilities towards
staff members 2.678.000 2.815.000 1.494.000
6. Liabilities towards
social security institutes 425.000 445.000 0
7. Tax debts 246.000 531.000 510.000
8. Other current
liabilities 1.702.000 1.669.000 2.508.000
9. Provisions 0 0 0
TOTAL CURRENT DEBTS 26.857.000 17.452.000 6.973.000
II. Accrued liabilities and
financings 22.000 38.000 0
TOTAL CURRENT LIABILITIES 26.879.000 17.490.000 6.973.000
TOTAL EQUITY AND LIABILITIES 71.746.000 56.930.000 41.899.000
D. OFF BALANCE LIABILITIES 0 0 0
Full profit/loss account according to Bulgarian Accounting standards
30.06.2005 31.12.2004 31.12.2003
Unconsolidated Accounts 6 months 12 months 12 months
BGN BGN BGN
EXPENDITURES
A. ORDINARY ACTIVITY EXPENDITURES
I. Expenditures
1. Materials cost 6.737.000 12.891.000 11.759.000
2. Cost of third parties
services 12.036.000 21.845.000 20.022.000
3. Depreciation
expenditures 1.348.000 2.562.000 2.225.000
4. Remuneration
expenditures 2.564.000 6.053.000 4.714.000
5. Social security
expenditures 773.000 1.546.000 1.362.000
6. Other expenditures 0 0 688.000
- assets devaluation 0 0 0
- provisions 0 0 0
EXPENDITURES 23.458.000 44.897.000 40.770.000
II. Corrective nature amounts
1. Sold assets balance
value (goods, materials,
young animals and animals to
be fattened as well as
tangible and intangible
fixed assets) 2.547.000 7.316.000 2.378.000
2. Fixed assets
acquisition and liquidation
expenditures 0 0 -25.000
3. Alteration in
inventoris and goods in
course of production -1.105.000 25.000 397.000
4. Offspring of animals 0 0 0
5. Other corrective nature
amounts 518.000 795.000 -1.362.000
TOTAL CORRECTIVE NATURE
AMOUNTS 1.960.000 8.136.000 1.388.000
III. Financial Expenses
1. Interests payable 647.000 985.000 666.000
- incuding interests
payable to affiliated
companies 0 0 0
2. Negative differentials
from financial assets
operations 0 0 0
3. Negative exchange rate
differentials 246.000 1.079.000 1.204.000
4. Other financial
operations expenditures 227.000 261.000 576.000
TOTAL FINANCIAL
EXPENDITURES 1.120.000 2.325.000 2.446.000
B. TOTAL ORDINARY ACTIVITY
EXPENDITURES 26.538.000 55.358.000 44.604.000
C. Profit from the ordinary
activity 5.796.000 4.908.000 2.225.000
IV. Extraordinary
expenditures 0 0 0
D. TOTAL EXPENDITURES 26.538.000 55.358.000 44.604.000
E. Profit before taxation 5.796.000 4.908.000 2.225.000
V. Taxation 0 964.000 545.000
1. Taxation on profit 0 889.000 661.000
2. Other taxes 0 75.000 -116.000
F. Profit after taxation 5.796.000 3.944.000 1.680.000
TOTAL (D + V + F) 32.334.000 60.266.000 46.829.000
30.06.2005 31.12.2004 31.12.2003
Unconsolidated Accounts 6 months 12 months 12 months
BGN BGN BGN
REVENUES
A. Revenues from the ordinary activity
I. Net revenues from sales of:
1. Production 23.075.000 36.978.000 32.886.000
2. Goods 2.561.000 7.494.000 2.491.000
3. Materials 0 0 0
4. Services 4.717.000 12.638.000 9.840.000
including revenues from
intermediary activities 0 0 0
- outsourcing services 0 0 0
5. Tangible and
intangibles fixed assets,
rentals 0 0 0
- thereof rentals 0 0 0
6. Other 1.308.000 1.645.000 893.000
TOTAL NET REVENUES FROM
SALES 31.661.000 58.755.000 46.110.000
II. Financing Revenues 54.000 108.000 0
- including government
subsidies 0 0 0
III. Financial Revenues
1. Interests revenues 99.000 272.000 175.000
- including from
affiliated companies 0 0 0
2. Participation revenues 0 0 0
- including dividends 0 0 0
3. Positive differentials
from financial assets
operations 75.000 231.000 0
4. Positive exchange rate
differentials 445.000 899.000 543.000
5. Other financial
operations revenues 0 1.000 1.000
TOTAL FINANCIAL REVENUES 619.000 1.403.000 719.000
B. TOTAL REVENUES FROM THE
ORDINARY ACTIVITY 32.334.000 60.266.000 46.829.000
C. LOSS FROM THE ORDINARY
ACTIVITY 0 0 0
IV. Extraordinary revenues 0 0 0
D. TOTAL REVENUES 32.334.000 60.266.000 46.829.000
E. Loss before taxation 0 0 0
F. Loss after taxation 0 0 0
TOTAL (D+F) 32.334.000 60.266.000 46.829.000
----------------------------------------------------------------------------------------
This information is strictly confidential and to be used by the client
only. It can not be published, disclosed or handed over to third parties
without written permission of Creditreform. This report is just a help
in making decisions by the information recipient. Every effort is made
to ensure that the information given herein is accurate but Creditreform
bears no legal responsibility for the consequences of these decisions.
|
|||||||||||||||||||||||||||
|