creditreform reportcrefo no.: 734842 company … index is a very strong and capable early-alarm...

Creditreform Romania

Date / Time 17/05/2016 / 14:52Customer No. RO - 1247Your No. 27261/21168 /

Order No. 1446788Last research date 17/05/2016 from 16

Creditreform report Crefo No.: 734842

Company identification

NIG METAL VEST SRL Telephone +40 374 083164Antenelor 7 E-mail [email protected] Comuna Sacalaz TimisRomania

Crefo No. 734842 Registration No. J35/434/2010Tax No. RO 26656247 Status Active

Solvency index

S360

Solvency index between 321 and 399 means ”strained rating”.

This class represents strained risk in a business partnership. Business connections are not denied, credits requiresecurities.

Solvency index is a very strong and capable early-alarm indicator enabling a fast assessment of solvency of busi-ness partners. The higher the solvency index, the higher the risk of default of a client. The solvency index ranges from100, a very good rating, to 600 where highly negative characteristics are present.

Solvency index history

600

500

400

300

200

100

2014 2016

600

500

400

300

200

100

360 360

This report is only intended for the recipient. Liability for any kind of negligence is disclaimed for the contents of the report and the decisions resulting from this. This report is based oninformation at our disposal at the time of the preparing of the report; no claim on completeness is raised in this regard. This also applies to vicarious agents.





Economic situation

Maximum credit limit Credits require securities (42)Business connection Business connections are not denied (41)Payment behaviour No complaints, but occasional delays (31)

Basic information

Legal formPrivate Limited Company

Registration and changes

established on 16.03.2010 as Nig Metal Vest Srl Private Limited Company

Owners and Capital

Name / Address / Nationality From ShareTuturas Bogdan Horatiu (birth date 04/03/1977)MUNICIPIUL TIMISOARA, RomaniaRomanian

18/11/2010 50,000000 %

Rosu Luiza Viorica (birth date 23/07/1965)SAT GHIRODA, RomaniaRomanian

18/11/2010 50,000000 %

Registered capital

Currency ValueRON 200

Management

Name / Address / Status Since PositionPopescu Florin Doru (birth date 18/02/1954)MUNICIPIUL TIMISOARARomania

23/07/2010 Administrator






Subsidiaries

Connections

Through Name / Address Position ShareRosu Luiza Viorica

RO 30710883 RED FOR METAL SRL administratorandshareholder

100,00000000%

Tuturas Bogdan Horatiu

RO 30438330 ALFA PASSIONE SRL shareholder 50,00000000%

RO 18894663 MTL TREBALL SRL administratorandshareholder

76,00000000%

Business activities

Main activity NaceManufacture of metal structures and parts of structures 2511

Legal office and working spaces at the above mentioned address.

Economic data

Turnover and Employees

Date Turnover Employees31.12.2014 5.317.598 RON 1331.12.2013 3.410.011 RON 1331.12.2012 2.275.117 RON 631.12.2011 3.023.375 RON 831.12.2010 2.258.345 RON 10

PropertiesAccording to the Balance Sheet of 31.12.2014 date the company holds real estates with a book value of 1.143.328,00RON, but we do not have any other details on the type and location of these assets.






Supplementary data

Banks

Financial Institution BranchMarfin Bank (Romania) TimisoaraRaiffeisenbank Romania TimisoaraUnicredit Bank Sa Timisoara

The subject is registered in the Electronic Archive for Secured Transactions, as having credits at:- Marfin Bank (Romania), Timisoara- Raiffeisenbank Romania, Timisoara- Unicredit Bank Sa, TimisoaraThese credits are guaranteed with cash-flow and fixed assets.If the company is asking for credits, for which the company has to present guarantees, these have to be first verified.

Main indices

Payment experience and credit opinion

Maximum credit limit Credits require securities (42)Business connection Business connections are not denied (41)Payment behaviour No complaints, but occasional delays (31)

Negative eventsAccording to the information registered at the Ministry of Finance, the company has no overdue debts to the State budgetas of 31.03.2016.

There are no records related to the subject at the Payment Incidents Bureau (CIP) in the period 16.05.2009 -16.05.2016.

There are no records related to the subject company in our debt collection department.

There are no records related to the subject company at the Insolvency Proceedings Bulletin.

The subject company is not registered with legal proceedings opened against it, according to Court Portal.

Balances

Assets

Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

INTANGIBLE FIXED ASSETS r1 521 0 0

TANGIBLE FIXED ASSETS r2 613.813 1.415.132 1.472.129






Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

CAPITAL ASSETS r3 17.340 0 0

FIXED ASSETS - TOTAL r4 631.674 1.415.132 1.472.129

INVENTORIES r5 915.115 1.257.798 1.491.192

RECEIVABLES r6 46.920 96.908 399.298

SHORT-TERM INVESTMENTS r7 0 0 0

PETTY CASH AND BANK ACCOUNTS r8 39.661 60.490 109.471

CURRENT ASSETS - TOTAL r9 1.001.696 1.415.196 1.999.961

PREPAID EXPENSES r10 100.786 100.786 100.786

TOTAL ASSETS r11 1.734.156 2.931.114 3.572.876

Liabilities

Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

DAT.I: AMOUNTS THAT MUST BE PAIDDURING A PERIOD OF MAX. ONE YEAR

r12 458.082 824.147 1.501.423

NET CURRENT ASSETS/NET CURRENTDEBTS

r13 644.400 691.835 599.324

TOTAL ASSETS MINUS CURRENT DEBTS r14 1.276.074 2.106.967 2.071.453

DAT.I: AMOUNTS THAT MUST BE PAIDDURING A PERIOD EXCEEDING ONE YEAR

r15 1.295.509 2.167.727 2.189.290

TOTAL DEBTS r16 1.753.591 2.991.874 3.690.713

PROVISIONS r17 0 0 0

DEFERRED INCOME, OF WHICH: r18 0 0 0

- grants related to investments r19 0 0 0

deferred income r20 0 0 0

CAPITAL, of which: r21 200 200 200

subscribed and paid up capital r22 200 200 200

unpaid subscribed capital r23 0 0 0

assets and liabilities (public sector companies) r24 0 0 0

CAPITAL PREMIUM r25 0 0 0

REVALUATION RESERVES r26 0 0 0

RESERVES r27 0 0 0

Own shares r28 0 0 0

Earnings associated to own capital instruments r29 0 0 0

Losses associated to own capital instruments r30 0 0 0

PROFIT OR LOSS REPORTED Balance accountC

r31 0 0 0

PROFIT OR LOSS REPORTED Balance accountD

r32 35.239 19.635 60.959

PROFIT OR LOSS FINANCIAL YEAR Balanceaccount C

r33 15.604 0 0

PROFIT OR LOSS FINANCIAL YEAR Balanceaccount D

r34 0 41.325 57.078






Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Profit distribution r35 0 0 0

SHAREHOLDERS’ EQUITY - TOTAL r36 -19.435 -60.760 -117.837

Public patrimony r37 0 0 0

EQUITY - TOTAL r38 -19.435 -60.760 -117.837

TOTAL LIABILITIES r39 1.734.156 2.931.114 3.572.876

Profit and Loss Account

Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Net turnover r89 2.275.117 3.410.011 5.317.598

Own work sold r90 2.275.117 3.410.240 5.317.598

Income from the sale of goods r91 0 0 0

Income from interests made by leasing r92 0 0 0

Income from grants related to incomecorresponding to net turnover

r93 0 0 0

——-Balance account C r94 344.207 348.908 0

Balance account D r95 0 0 57.203

Production made by the entity for its ownpurposes and capitalized

r96 0 0 0

Other operating income r97 0 1.073 0

TOTAL OPERATING INCOME - TOTAL r98 2.619.324 3.759.992 5.260.395

Expenses on raw materials and consumables r99 2.125.195 3.095.575 4.417.999

Other expenses for supplies and materials r100 231 0 0

Other outsourced expenses (electricity andwater)

r101 6.517 8.903 13.178

Expenses on goods r102 0 0 0

Expenses on personnel, of which: r103 138.659 306.810 327.634

Salaries and benefits r104 110.201 245.463 264.666

Insurance and social security expenses r105 28.458 61.347 62.968

Adjustments of the value of tangible andintangible fixed assets

r106 122.850 140.210 166.320

Expenses r107 122.850 140.210 166.320

Income r108 0 0 0

Adjustments of the value of current assets r109 0 0 0

Expenses r110 0 0 0






Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Income r111 0 0 0

Other operating expenses r112 208.262 198.741 328.381

Expenses on third party services r113 207.057 176.082 317.330

Expenses on other taxes, duties and similarcharges

r114 1.205 20.153 10.739

Expenses on compensations, donations andassigned assets

r115 0 2.506 312

Expenses with refinancing interest rates ofleasing entities

r116 0 0 0

Adjustments of provisions r117 0 0 0

Expenses r118 0 0 0

income r119 0 0 0

OPERATING EXPENSES - TOTAL r120 2.601.714 3.747.222 5.253.512

- Profit r121 17.610 12.770 6.883

- Loss r122 0 0 0

Income from participating interests, of which: r123 0 0 0

income obtained from subsidiaries r124 0 0 0

Income from other financial investments andloans which are part of intangible fixed assets, ofwhich:

r125 0 0 0


Income from interest rates, of which: r127 3.541 153 88


Other financial income r129 574 1.862 5.297

FINANCIAL INCOME - TOTAL r130 4.115 2.015 5.385

Value adjustments in respect of capital assetsand investments as current assets

r131 0 0 0

Expenses r132 0 0 0

income r133 0 0 0

Interest expenses r134 0 41.940 48.954






Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

of which, expenses in respect of subsidiaries r135 0 0 0

Other financial expenses r136 2.845 14.170 20.392

FINANCIAL EXPENSES - TOTAL r137 2.845 56.110 69.346

- Profit r138 1.270 0 0

- Loss r139 0 54.095 63.961

- Profit r140 18.880 0 0

- Loss r141 0 41.325 57.078

Extraordinary income r142 0 0 0

Extraordinary expenses r143 0 0 0

- Profit r144 0 0 0

- Loss r145 0 0 0

TOTAL INCOME r146 2.623.439 3.762.007 5.265.780

TOTAL EXPENSES r147 2.604.559 3.803.332 5.322.858

- Profit r148 18.880 -41.325 -57.078

- Loss r149 0 41.325 57.078

Income tax r150 3.276 0 0

Other taxes which are not recorded above r151 0 0 0

- Net profit r152 15.604 0 0

- Net loss r153 0 41.325 57.078

Net result r154 15.604 -41.325 -57.078

Additional information

Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Outstanding payments-total - TOTAL r155 0 0 0






Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Accounts payable outstanding - total, of which: -TOTAL

r156 0 0 0

over 30 days - TOTAL r157 0 0 0

over 90 days - TOTAL r158 0 0 0

over 1 year - TOTAL r159 0 0 0

Outstanding payments to social security- total, ofwhich: - TOTAL

r160 0 0 0

contributions to social security payable byemployers, employees and other assimilatedentities - TOTAL

r161 0 0 0

contributions to the social health insurance fund -TOTAL

r162 0 0 0

contribution to the additional state pensionsystem - TOTAL

r163 0 0 0

contributions to the unemployment insurancefund - TOTAL

r164 0 0 0

other social liabilities - TOTAL r165 0 0 0

Payments due to special funds and other funds -TOTAL

r166 0 0 0

Payments due to other creditors - TOTAL r167 0 0 0

Taxes and fees unpaid to the public budget on thedate due - TOTAL

r168 0 0 0

Taxes and fees unpaid to the local budget on thedate due - TOTAL

r169 0 0 0

Bank credits which were not reimbursed on thedate due - total, of which: - TOTAL

r170 0 0 0

back payments after 30 days - TOTAL r171 0 0 0

back payments after 90 days - TOTAL r172 0 0 0

back payments after 1 year - TOTAL r173 0 0 0

Past due interest - TOTAL r174 0 0 0

Average number of employees r175 6 13 13

Specific tangible fixed assets

Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Lands r176 0 292.361 323.791






Name Ref.31/12/2012

RONSHORT

31/12/2013RON

SHORT

31/12/2014RON

SHORT

Buildings r177 0 633.370 819.537

Technical installations and machines r178 918.787 932.371 938.091

Amortization r179 N/A N/A N/A

Financial Ratios

Name Ref. 31/12/2012 31/12/2013 31/12/2014Debt Ratio R1 1,01 1,02 1,03

Quick ratio R2 0,19 0,19 0,34

Current ratio R3 2,19 1,72 1,33

Solvency ratio R4 -66,66 -35,68 -18,58

Return on sales ( ROS ) R5 0,01 0,00 0,00

Return on assets ( ROA ) R6 0,01 0,00 0,00

Return on equity ( ROE ) R7 -0,80 0,00 0,00

Operating margin, in (%) R8 0,01 0,00 0,00

Days supply in inventory R9 146,81 134,63 102,36

Days sales in receivables R10 7,53 10,37 27,41

Days purchase in payables R11 73,49 88,21 103,06

SALES TO TOTAL ASSETS R12 1,31 1,16 1,49

OPERATING RESULT /TOTAL ASSETS R13 0,01 0,00 0,00

CASH RATIO R14 0,09 0,07 0,07

Equity as % of total assets R15 -1,12 -2,07 -3,30

Fixed assets as % of total assets R16 36,42 48,28 41,20

Receivables as % of current assets R17 4,68 6,85 19,96

Net working capital R18 799,35 627,80 485,45

Exchange rate

31/12/2012USD 1,– = RON 3,47

EUR 1,– = RON 4,46

31/12/2013USD 1,– = RON 3,33

EUR 1,– = RON 4,42

31/12/2014USD 1,– = RON 3,35

EUR 1,– = RON 4,44






The credit rating index may vary farom 100 to 600 points as follows:0 new company or no officialor other information available100-150 very good151-220 good221-320 average321-399 strained400-500 weak501-600 insufficient






Financial analysis

¿

Debt ratio

-0.5

0.0

0.5

1.0

1.5

2012 2013 2014

-0.5

0.0

0.5

1.0

1.5

1 1 1

r16r11

The debt ratio calculates the proportion the total assetsis financed from sources other than ones own, such asloans , suppliers or debts to the state

Quick ratio

0.0

0.5

1.0

1.5

2012 2013 20140.

00.

51.

01.

5

0.2 0.2

0.3

(r9 − r5)r12

Quick ratio measures the ability of a company to use itsnear cash or quick assets to extinguish or retire its currentliabilities immediately.

Current ratio ( CR )

0.5

1.0

1.5

2.0

2012 2013 2014

0.5

1.0

1.5

2.0

2.2

1.7

1.3

r9r12

Reflecta capacitatea unei companii de a face fata tuturorscadentelor sale, atat pe termen scurt cat si pe termenmediu si lung.

Solvency ratio

-60

-50

-40

-30

-20

-10

0

2012 2013 2014

-60

-50

-40

-30

-20

-10

0

-66.7

-35.7

-18.6

r15r36

The solvency ratio measures the size of a company’safter-tax income, excluding non-cash depreciation ex-penses, as compared to the firm’s total debt obligations.It is the company’s ability to meet long-term obligations.






Return on sales (ROS)

0.0

0.5

1.0

2012 2013 2014

0.0

0.5

1.0

0 0 0

r152r89

Return on sales (ROS) is net profit as a percentage ofsales revenue. ROS is an indicator of profitability and isoften used to compare the profitability of companies andindustries of differing sizes.

Return on assets (ROA)

-0.5

0.0

0.5

1.0

2012 2013 2014

-0.5

0.0

0.5

1.0

0 0 0

r152r11

ROA measures efficiency of the business in using its as-sets to generate net income

Return on equity (ROE)

-0.5

0.0

0.5

1.0

2012 2013 2014

-0.5

0.0

0.5

1.0

-0.8

0 0

r152r36

ROE is the ratio of net income of a business during a yearto its shareholders’ equity during that year. It is a measureof profitability of shareholders’ investments.

Operating margin, in %

-0.5

0.0

0.5

1.0

2012 2013 2014

-0.5

0.0

0.5

1.0

0 0 0

r121r89

A financial measure of a company’s performance thatgives investors an idea of how long it takes a companyto turn its inventory (including goods that are work inprogress, if applicable) into sales.






Days supply in inventory

2040

6080

100

140

2012 2013 2014

2040

6080

100

140

146.8134.6

102.4

(r5r89)

∗ 365

Approximate number of times the stock was run during thefinancial year.

Days sales in receivables

2040

6080

2012 2013 2014

2040

6080

7.5 10.4

27.4

(r6r89)

∗ 365

A financial indicator to measure how many days on aver-age it takes to turn your accounts receivable balance intocash. Therefore it measures the efficiency of your collec-tions policy and department.

Days purchase in payables

2040

6080

100

2012 2013 2014

2040

6080

100

73.5

88.2

103.1

(r12r89)

∗ 365

A financial indicator which shows how long a company istaking to pay its trade creditors. It is typically looked ateither quarterly or yearly (90 or 365 days).

Sales to Total Assets

0.0

0.5

1.0

1.5

2012 2013 2014

0.0

0.5

1.0

1.5

1.31.2

1.5

r89r11

Sales to total assets (S/TA) ratio shows how much salesare generated per one RON of assets, or how effectivelythe company uses its’ assets.






Operating result / Total assets

-0.5

0.0

0.5

1.0

2012 2013 2014

-0.5

0.0

0.5

1.0

0 0 0

r121r11

Measures efficiency of the business in using its assets togenerate net income.

Cash ratio

-0.5

0.0

0.5

1.0

2012 2013 2014

-0.5

0.0

0.5

1.0

0.1 0.1 0.1

r8r12

The ratio of a company’s total cash and cash equivalentsto its current liabilities. The cash ratio is most commonlyused as a measure of company liquidity. It can thereforedetermine if, and how quickly, the company can repay itsshort-term debt.

Equity as % of total assets

020

4060

80

2012 2013 2014

020

4060

80

-1.1 -2.1 -3.3

(r36r11)

∗ 100

The equity ratio is a financial ratio indicating the relativeproportion of equity used to finance a company’s assets.

Fixed assets as % of total assets

2030

4050

6070

80

2012 2013 2014

2030

4050

6070

80

36.4

48.3

41.2

(r4r11)

∗ 100

The percentage of fixed assets of total assets. Fixed as-sets are also known as ”tangible assets” or property, plant,and equipment, is a term used in accounting for assetsand property that cannot easily be converted into cash.






Receivables as % of current assets

1020

3040

5060

70

2012 2013 2014

1020

3040

5060

70

4.7 6.8

20

(r6r9)

∗ 100

The percentage of receivables of current assets. Receiv-ables may refer to the amount due from individuals andcompanies. Receivables are claims that are expected tobe collected in cash.

Net working capital

020

040

060

080

0

2012 2013 2014

020

040

060

080

0 799.4

627.8

485.4

r9 − r12

The formula for net working capital is used to determinethe availability of a company’s liquid assets by subtractingits current liabilities.


creditreform reportcrefo no.: 734842 company … index is a very strong and capable early-alarm...

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