Creditreform reportCrefo No.: 890788 Company · PDF fileCreditreform reportCrefo No.: 890788 Name Ref ... TOTAL TANGIBLE FIXED ASSETS r11 12.984.148 17.814.996 17.912.844 Shares in

Creditreform Romania

Date / Time 18/04/2016 / 14:16Customer No. RO - 1247Your No. /

Order No. 1080074Last research date 18/04/2016Page 1 from 19

Creditreform report Crefo No.: 890788

Company identification

TRANSENERGO COM SA Telephone +40 21 4034202Calea 13 Septembrie 90 Fax +40 21 4034945050726 Bucuresti Sector 5 E-mail [email protected] WEB www.transenergo.ro

Crefo No. 890788 Registration No. J40/19379/2004Tax No. RO 16976082 Status Active

Solvency index

S330

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

2012 2013 2014 2015 2016

600

500

400

300

200

100

270290 275 285

330

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 So far no complaints ,recently occasional reminders (33)

Basic information

Legal formJoint Stock Co.

Registration and changes

established on 24.11.2004 as Transenergo Com Sa Joint Stock Co.

Owners and Capital

Name / Address / Nationality From ShareComan Rada (birth date 29/05/1971)VOLUNTARI, RomaniaRomanian

15/11/2006 82,010000 %

Brazdau Iosif (birth date 28/08/1957)BUCURESTI SECTORUL 3, RomaniaRomanian

12/06/2012 12,110000 %

Nelu Coman (birth date 22/10/1970)ORAS VOLUNTARI, RomaniaRomanian

04/02/2010 5,8800000 %

Registered capital

Currency ValueRON 29.537.460

Management






Name / Address / Status Since PositionComan Rada (birth date 29/05/1971)Romania

28/03/2009 Administrator

C.I.P.L. EXPERT AUDIT SRLRomania

25/01/2007 Auditor

Subsidiaries

Participation of the company

Tax No. Name / Address ShareParticipations of the company

RO 18214945 AMOCHIM INTERNATIONAL S.R.L. 4,93905000%

RO 27435716 MAYA GIA PROD SRL 50,00000000%

RO 30508281 PHOTOVOLTAIC GREEN PROJECT SRL 97,62000000%

RO 25797914 ROMANITZA INVESTMENT SRL 50,00000000%

RO 29247255 SIMICO PROD FACTORY SRL 50,00000000%

RO 30798908 TRANSENERGO MICROHIDRO SRL 90,00000000%

RO 16758096 G.T.A. INVEST S.R.L.






Connections

Through Name / Address Position ShareBrazdau Iosif

RO 16696848 REFIN COMPANY SRL administratorandshareholder

100,00000000%

Coman Rada

RO 31687088 BLACK STYLE FASHION SRL shareholder 50,00000000%

RO 16758096 G.T.A. INVEST SRL shareholder 100,00000000%

RO 30508281 PHOTOVOLTAIC GREEN PROJECT SRL administrator

RO 26953752 RED STYLE FASHION SRL shareholder 50,00000000%

RO 30798908 TRANSENERGO MICROHIDRO SRL shareholder 5,00000000%

RO 30797759 WHITE STYLE FASHION SRL shareholder 50,00000000%

Nelu Coman

RO 29441226 ACE CLEAN ENERGY SRL shareholder 50,00000000%

RO 31687088 BLACK STYLE FASHION SRL administratorandshareholder

50,00000000%

RO 27435716 MAYA GIA PROD SRL administrator

RO 30508281 PHOTOVOLTAIC GREEN PROJECT SRL administrator

RO 26953752 RED STYLE FASHION SRL administratorandshareholder

50,00000000%

RO 29247255 SIMICO PROD FACTORY SRL administrator

RO 31652101 SUISSE SAVEUR SRL administratorandshareholder

100,00000000%

RO 29325175 TRANS SUN ENERGO SRL shareholder 50,00000000%

RO 30798908 TRANSENERGO MICROHIDRO SRL administratorandshareholder

5,00000000%

RO 30797759 WHITE STYLE FASHION SRL administratorandshareholder

50,00000000%

Business activities






Main activity NaceTrade of electricity 3514

Legal office and working spaces at the above mentioned address

Economic data

Turnover and Employees

Date Turnover Employees31.12.2015 1.354.899.540 RON31.12.2014 817.341.728 RON 3931.12.2013 736.294.215 RON 2431.12.2012 722.570.242 RON 1931.12.2011 551.836.290 RON 2431.12.2010 346.247.181 RON 1331.12.2009 225.038.408 RON 1531.12.2008 183.413.297 RON 1931.12.2007 118.888.651 RON 1831.12.2006 113.088.619 RON 21

PropertiesAccording to the Balance Sheet of 31.12.2014 date the company holds real estates with a book value of 10.544.779,00RON, but we do not have any other details on the type and location of these assets.

Supplementary data

Banks

Financial Institution BranchBanca Comerciala Carpatica BucurestiBanca Transilvania S.A. BucurestiC.E.C. Bank BucurestiEximbank BucurestiOTP BANK BucurestiPiraeus Bank Romania BucurestiRaiffeisenbank Romania Bucuresti






The subject is registered in the Electronic Archive for Secured Transactions, as having credits at:- Banca Comerciala Carpatica, Bucuresti- Banca Transilvania S.A., Bucuresti- C.E.C. Bank, Bucuresti- Eximbank, Bucuresti- OTP BANK, Bucuresti- Piraeus Bank Romania, Bucuresti- Raiffeisenbank Romania, BucurestiThese credits are guaranteed with cash-flow.

Main indices

Payment experience and credit opinion

Maximum credit limit Credits require securities (42)Business connection Business connections are not denied (41)Payment behaviour So far no complaints ,recently occasional reminders (33)

Negative eventsAccording to the information registered at the Ministry of Finance the company has overdue debts in amount of6.599.514,00 RON to the State (taxes not paid until 31.12.2015). For this debt the enforcement procedure has beenstarted

There are no records related to the subject at the Payment Incidents Bureau (CIP) in the period 18.04.2009 -18.04.2016.

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.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Incorporation expenses r1 0 N/A N/A

Development expenses r2 0 N/A N/A

Concession rights, patents, licences, trademarks,similar rights and assets and other intangible fixedassets

r3 10.864 35.426 N/A

Goodwill r4 0 N/A N/A

Down payments and intangible fixed assets inprogress

r5 53.158 97.495 N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

TOTAL INTANGIBLE FIXED ASSETS r6 64.022 132.921 4.704.822

Land and buildings r7 8.771.744 10.308.424 N/A

Technical installations and machines r8 1.061.982 774.969 N/A

Other installations, machinery and furniture r9 595.064 454.179 N/A

Down payments and tangible fixed assets inprogress

r10 2.555.358 6.277.424 N/A

TOTAL TANGIBLE FIXED ASSETS r11 12.984.148 17.814.996 17.912.844

Shares in subsidiaries r12 10.093.756 10.093.756 N/A

Loans given to subsidiaries r13 0 43.301.713 N/A

Participating interests r14 0 N/A N/A

Loans given to associates r15 0 N/A N/A

Other long term investments r16 0 N/A N/A

Other loans r17 5.787.160 20.500.760 N/A

TOTAL CAPITAL ASSETS r18 15.880.916 73.896.229 85.378.182

NON CURRENT ASSETS - TOTAL r19 28.929.086 91.844.146 107.995.848

Raw materials and consumables r20 0 N/A N/A

Work in progress r21 0 N/A N/A

Finished goods r22 10.883.348 17.540.266 N/A

Down payments on inventory purchases r23 29.840.279 18.949.690 N/A

TOTAL INVENTORIES r24 40.723.627 36.489.956 49.101.279

Trade receivables r25 143.524.503 178.296.685 N/A

Receivables from subsidiaries r26 0 N/A N/A

Receivables from entities in respect ofparticipating interests

r27 0 N/A N/A

Other receivables r28 60.801.305 23.585.696 N/A

Unpaid subscribed capital r29 0 N/A N/A

TOTAL RECEIVABLES r30 211.965.908 225.432.092 309.510.106

Shares in subsidiaries r31 0 N/A N/A

Other short-term investments r32 7.640.100 23.549.711 N/A

TOTAL SHORT-TERM INVESTMENTS r33 7.640.100 23.549.711 N/A

PETTY CASH AND BANK ACCOUNTS r34 5.368.349 2.977.467 2.688.645

CURRENT ASSETS - TOTAL r35 258.057.884 264.899.515 397.819.205

PREPAID EXPENSES r36 10.780.382 12.683.736 60.529.713

TOTAL ASSETS r37 297.767.352 369.427.397 566.344.766

Liabilities

Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Debenture loans r38 0 N/A N/A

Amounts payable to credit entities r39 121.146.646 173.987.981 158.441.801

Down payments received on orders in progress r40 41.597.134 21.364.614 N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Commercial debts - suppliers r41 75.387.051 93.937.682 245.397.614

Commercial bills due r42 0 N/A N/A

Amounts payable to subsidiaries r43 0 N/A N/A

Amounts payable to associates in respect ofparticipating interests

r44 0 N/A N/A

Other debts, including fiscal debts and amountspayable to social security

r45 8.718.883 12.352.294 29.666.902

TOTAL SHORT-TERM DEBTS r46 246.849.714 301.642.571 433.506.317

NET CURRENT ASSETS/NET CURRENTDEBTS

r47 13.998.239 -50.920.514 N/A

TOTAL ASSETS MINUS CURRENT DEBTS r48 42.927.325 40.923.632 N/A

Debenture loans r49 0 N/A N/A

Amounts payable to credit entities r50 6.215.774 1.023.810 17.043.777

Down payments received on orders in progress r51 0 N/A N/A

Commercial debts - suppliers r52 0 N/A N/A

Commercial bills due r53 0 N/A N/A

Amounts payable to subsidiaries r54 0 N/A N/A

Amounts payable to associates in respect ofparticipating interests

r55 0 N/A N/A

Other debts, including fiscal debts and amountspayable to social security

r56 54.782 N/A N/A

TOTAL LONG-TERM DEBTS r57 6.270.556 1.023.810 17.043.777

Provisions for pensions and other similarobligations

r58 0 N/A N/A

Provisions for taxes r59 0 N/A N/A

Other provisions r60 0 N/A N/A

TOTAL DEBTS r61 253.120.270 302.666.381 450.550.094

TOTAL PROVISIONS r62 0 0 N/A

Grants for investments r63 0 N/A N/A

deferred income r64 7.990.313 26.861.194 N/A

TOTAL DEFERRED INCOME r65 7.990.313 26.861.194 67.006.405

Subscribed and paid capital r66 22.637.340 22.637.340 29.537.460

Subscribed and unpaid capital r67 0 N/A N/A

Assets and liabilities (public sector companies) r68 0 N/A N/A

TOTAL SHARE CAPITAL r69 22.637.340 22.637.340 29.537.460

CAPITAL PREMIUM r70 0 N/A N/A

REVALUATION RESERVES r71 0 N/A N/A

Legal reserves r72 1.883.567 2.669.727 3.078.609

Statutory or contractual reserves r73 0 N/A N/A

Reserves representing the revaluation reservesurplus

r74 0 N/A N/A

Other reserves r75 0 N/A N/A

TOTAL RESERVES r76 1.883.567 2.669.727 N/A

Own shares r77 0 N/A N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Earnings associated to own capital instruments r78 0 N/A N/A

Losses associated to own capital instruments r79 0 N/A N/A

Reported profit or loss (e) Balance account C r80 44.092 2.464.687 9.877.254

Reported profit or loss (e) Balance account D r81 0 N/A N/A

Profit or loss as per the financial year Balanceaccount C

r82 12.901.327 12.914.228 6.703.826

Profit or loss as per the financial year Balanceaccount D

r83 0 0 N/A

Profit distribution r84 809.557 786.160 408.882

SHAREHOLDERS’ EQUITY - TOTAL r85 36.656.769 39.899.822 48.788.267

Public patrimony r86 0 N/A N/A

EQUITY - TOTAL r87 36.656.769 39.899.822 48.788.267

TOTAL LIABILITIES r88 297.767.352 369.427.397 566.344.766

The above financial figures for 2015 are not official and are provided directly by the subject company.

Profit and Loss Account

Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Net turnover r89 736.294.215 817.341.728 1.354.899.540

Own work sold r90 11.105.844 34.556.792 18.685.320

Income from the sale of goods r91 725.188.371 782.784.936 1.336.214.220

Income from interests made by leasing r92 0 N/A N/A

Income from grants related to incomecorresponding to net turnover

r93 0 N/A N/A

——-Balance account C r94 0 N/A N/A

Balance account D r95 0 N/A N/A

Production made by the entity for its ownpurposes and capitalized

r96 0 N/A N/A

Other operating income r97 46.778.164 20.630.790 25.212.750

OPERATING INCOME - TOTAL r98 783.072.379 837.972.518 1.380.112.290

Expenses on raw materials and consumables r99 56.236 44.555 N/A

Other expenses supplies and materials r100 419.278 185.519 N/A

Other outsourced expenses (electricity andwater)

r101 20.288 32.942 N/A

Expenses on goods r102 692.047.901 761.461.547 1.309.231.748

Expenses on personnel, of which: r103 1.899.750 3.244.026 4.770.907

Salaries and benefits r104 1.484.785 2.563.648 3.888.104

Insurance and social security costs r105 414.965 680.378 882.803






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Adjustments of the value of tangible andintangible fixed assets

r106 674.052 608.295 501.351

Expenses r107 674.052 608.295 501.351

Income r108 0 N/A N/A

Adjustments of the value of current assets r109 3.461.272 647.841 178.243

Expenses r110 3.461.272 647.841 178.243

Income r111 0 N/A N/A

Other operating costs r112 56.042.082 45.695.809 49.263.836

Expenses on third party services r113 9.759.325 13.142.799 N/A

Expenses on other taxes, duties and similarcharges

r114 1.109.527 335.615 N/A

Expenses on compensations, donations andassigned assets

r115 45.173.230 32.217.395 N/A

Expenses with refinancing interest rates ofleasing entities

r116 0 N/A N/A

Adjustments of provisions r117 0 N/A N/A

Expenses r118 0 N/A N/A

income r119 0 N/A N/A

OPERATING EXPENSES - TOTAL r120 754.620.859 811.918.536 1.363.946.085

- Profit r121 28.451.520 26.053.982 16.166.205

- Loss r122 0 0 N/A

Income from participating interests, of which: r123 0 N/A N/A

income obtained from subsidiaries r124 0 N/A N/A

Income from other financial investments andloans which are part of intangible fixed assets(acc. 763), of which:

r125 0 N/A N/A

income obtained from subsidiaries r126 0 N/A N/A

Income from interest rates, of which: r127 1.980.030 4.057.690 4.086.080

income obtained from subsidiaries r128 0 3.923.082 N/A

Other financial income r129 3.914.790 3.579.679 11.835.379






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

FINANCIAL INCOME - TOTAL r130 5.894.820 7.637.369 15.921.459

Value adjustments in respect of capital assetsand investments as current assets

r131 0 N/A N/A

Expenses r132 0 N/A N/A

income r133 0 N/A N/A

Interest expenses r134 9.906.330 11.438.625 11.304.020

of which, expenses in respect of subsidiaries r135 0 N/A N/A

Other financial expenses r136 8.248.875 6.529.521 12.605.996

FINANCIAL EXPENSES - TOTAL r137 18.155.205 17.968.146 23.910.016

- Financial profit r138 0 0 N/A

- Financial loss r139 12.260.385 10.330.777 7.988.557

- Current profit r140 16.191.135 15.723.205 N/A

- Current loss r141 0 0 N/A

Extraordinary income r142 0 N/A N/A

Extraordinary expenses r143 0 0 N/A

- Extraordinary profit r144 0 0 N/A

- Extraordinary loss r145 0 0 N/A

TOTAL INCOME r146 788.967.199 845.609.887 1.396.033.749

TOTAL EXPENSES r147 772.776.064 829.886.682 1.387.856.101

- Gross profit r148 16.191.135 15.723.205 8.177.648

- Gross loss r149 0 0 N/A

Income tax r150 3.289.808 2.808.977 1.473.822

Other taxes which are not recorded above r151 0 N/A N/A

- Net profit r152 12.901.327 12.914.228 6.703.826

- Net loss r153 0 0 N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Net result r154 12.901.327 12.914.228 6.703.826

Additional information

Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Outstanding payments-total, of which: - TOTAL r155 6.640.585 5.079.272 N/A

Accounts payable outstanding- total, of which: -TOTAL

r156 5.122.757 1.802.554 N/A

over 30 days - TOTAL r157 4.343.976 1.483.207 N/A

over 90 days - TOTAL r158 702.471 243.207 N/A

over 1 year - TOTAL r159 76.310 76.140 N/A

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

r160 0 N/A N/A

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

r161 0 N/A N/A

contributions to the social health insurance fund -TOTAL

r162 0 N/A N/A

contribution to the additional state pensionsystem - TOTAL

r163 0 N/A N/A

contributions to the unemployment fund - TOTAL r164 0 N/A N/A

other social liabilities - TOTAL r165 0 N/A N/A

Payments due to special funds and other funds -TOTAL

r166 0 N/A N/A

Payments due to other creditors - TOTAL r167 0 N/A N/A

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

r168 1.517.828 3.276.718 N/A

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

r169 0 N/A N/A

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

r170 0 0 N/A

back payments after 30 days - TOTAL r171 0 N/A N/A

back payments after 90 days - TOTAL r172 0 N/A N/A

back payments after 1 year - TOTAL r173 0 N/A N/A

Past due interest - TOTAL r174 0 N/A N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Average number of employees r175 24 39 N/A

Specific tangible fixed assets

Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Lands r176 4.377.000 4.377.000 N/A

Buildings r177 4.497.779 6.167.779 N/A

Technical installations and machines r178 3.621.795 3.391.117 N/A

Amortization r179 N/A N/A N/A

Financial Ratios

Name Ref. 31/12/2013 31/12/2014 31/12/2015Debt Ratio R1 0,85 0,82 0,80

Quick ratio R2 0,88 0,76 0,80

Current ratio R3 1,05 0,88 0,92

Solvency ratio R4 0,17 0,03 0,35

Return on sales ( ROS ) R5 0,02 0,02 0,00

Return on assets ( ROA ) R6 0,04 0,03 0,01

Return on equity ( ROE ) R7 0,35 0,32 0,14

Operating margin, in (%) R8 0,04 0,03 0,01

Days supply in inventory R9 20,19 16,29 13,23

Days sales in receivables R10 105,08 100,67 83,38

Days purchase in payables R11 122,37 134,70 116,78

SALES TO TOTAL ASSETS R12 2,47 2,21 2,39

OPERATING RESULT /TOTAL ASSETS R13 0,10 0,07 0,03

CASH RATIO R14 0,02 0,01 0,01

Equity as % of total assets R15 12,31 10,80 8,62

Fixed assets as % of total assets R16 9,72 24,86 19,07

Receivables as % of current assets R17 82,14 85,10 77,80

Net working capital R18 11208170,00 -36743056,00 -35687112,00

Exchange rate

31/12/2013USD 1,– = RON 3,33

EUR 1,– = RON 4,42






31/12/2014USD 1,– = RON 3,35

EUR 1,– = RON 4,44

31/12/2015USD 1,– = RON 4,01

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

2013 2014 2015

-0.5

0.0

0.5

1.0

1.5

0.8 0.8 0.8

r61r37

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

2013 2014 20150.

00.

51.

01.

5

0.90.8 0.8

(r35 − r24)r46

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

2013 2014 2015

0.5

1.0

1.5

2.0

1.1

0.9 0.9

r35r46

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

Solvency ratio

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

2013 2014 2015

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

0.20

0.4

r57r85

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

2013 2014 2015

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

2013 2014 2015

-0.5

0.0

0.5

1.0

0 0 0

r152r37

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

2013 2014 2015

-0.5

0.0

0.5

1.0

0.4 0.3

0.1

r152r85

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

2013 2014 2015

-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

1020

3040

5060

7080

2013 2014 2015

1020

3040

5060

7080

20.216.3

13.2

(r24r89)

∗ 365

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

Days sales in receivables

5060

7080

9010

0

2013 2014 2015

5060

7080

9010

0

105.1100.7

83.4

(r30r89)

∗ 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

120

2013 2014 2015

2040

6080

100

120

122.4

134.7

116.8

(r46r89)

∗ 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

2.0

2.5

2013 2014 2015

0.0

0.5

1.0

1.5

2.0

2.5 2.5

2.22.4

r89r37

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

2013 2014 2015

-0.5

0.0

0.5

1.0

0.1 0.1 0

r121r37

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

Cash ratio

-0.5

0.0

0.5

1.0

2013 2014 2015

-0.5

0.0

0.5

1.0

0 0 0

r34r46

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

2040

6080

2013 2014 2015

2040

6080

12.3 10.8 8.6

(r85r37)

∗ 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

2040

6080

2013 2014 2015

2040

6080

9.7

24.919.1

(r19r37)

∗ 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

4050

6070

80

2013 2014 2015

4050

6070

80

82.185.1

77.8

(r30r35)

∗ 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

-3e+

07-1

e+07

1e+0

7

2013 2014 2015

-3e+

07-1

e+07

1e+0

7 11208170

-36743056 -35687112

r35 − r46

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


Documents

Creditreform reportCrefo No.: 890788 Company · PDF fileCreditreform reportCrefo No.: 890788 Name Ref ... TOTAL TANGIBLE FIXED ASSETS r11 12.984.148 17.814.996 17.912.844 Shares in