Creditreform reportCrefo No.: 118515 Company · PDF fileCreditreform reportCrefo No.: ... RO...

Creditreform Romania

Date / Time 13/01/2017 / 10:12Customer No. RO - 1247Your No. /

Order No. 1469517Last research date 13/01/2017 from 19

Creditreform report Crefo No.: 118515

Company identification

VASCAR SA Telephone +40 235 361131+40 235 361134

Podul Inalt 4 Fax +40 235 361475730232 Vaslui Vaslui E-mail [email protected] WEB www.vascar.ro

Crefo No. 118515 Registration No. J37/23/1991Tax No. RO 829522 Status Active

Solvency index

S340

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

2009 2010 2011 2014 2016 2017

600

500

400

300

200

100

290 290 285251

330 340

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 Mostly within agreed terms, but partly also delayed (32)

Basic information

Legal formJoint Stock Co.

Registration and changes

established on 07.02.1991 as Vascar Sa Joint Stock Co.

Owners and Capital

Name / Address / Nationality From ShareP.P.M.N/A

29,635000 %

SIF II MOLDOVARomaniaRomanian

06/02/1991 21,450000 %

Name / Address / Nationality From ShareCiuburciu Gabriela (birth date 12/11/1960)MUNICIPIUL VASLUI, RomaniaRomanian

06/02/1991 48,886000 %

Cepoi Iuliu (birth date 11/02/1960)MUNICIPIUL VASLUI, RomaniaRomanian

06/02/1991 0,0130000 %

Sevastre Mandita (birth date 31/10/1960)MUNICIPIUL VASLUI, RomaniaRomanian

06/02/1991 0,0130000 %

Chirita Magdalena (birth date 05/06/1961)MUNICIPIUL VASLUI, RomaniaRomanian

06/02/1991 0,0030000 %






Registered capital

Currency ValueRON 3.470.860

Management

Name / Address / Status Since PositionCIUBURCIU VIOREL ALEXANDRU PFAVASLUIRomania

Administrator

Bejinaru Marius Traian (birth date 02/03/1972)MUNICIPIUL BARLADRomania

01/03/2011 Administrator

Duran Cristinel (birth date 23/11/1978)MUNICIPIUL VASLUIRomania

Administrator

AUDIT EXPERTCONT SRLRomania

21/06/2010 Auditor

Duran Cristinel (birth date 23/11/1978)Romania

03/03/2011 Director

Smintina Alexandru (birth date 15/02/1962)MUNICIPIUL VASLUIRomania

Director

Enache Gabriel (birth date 14/09/1970)MUNICIPIUL VASLUIRomania

General Manager

Subsidiaries

Connections

Through Name / Address Position ShareCepoi Iuliu

RO 10004298 PLASTICS SRL administratorandshareholder

100,00000000%

Ciuburciu Gabriela






RO 12597043 GASTROSTAR GRUP SA shareholder 1,08800000%

Sevastre Mandita

RO 22336541 SEVASTRE MANDITA PERSOANA FIZICAAUTORIZATA

shareholder 0,00000000%

SIF II MOLDOVA

RO 1628551 ADMET SA shareholder 23,84198100%

RO 950531 AEROSTAR SA shareholder 14,58779287%

RO 2808054 AGROCOMPLEX BIRLAD SA shareholder 7,18800000%

RO 1627815 AGROGAL SA shareholder 6,67365677%

RO 32267040 ASSET INVEST S.A. shareholder 99,99730000%

RO 2266018 ATLAS SA shareholder 14,98460000%

RO 341563 BIOFARM SA shareholder 13,61990000%

RO 8376788 CASA SA shareholder 99,02620000%

RO 2269251 CEPROHART SA shareholder 30,25210000%

RO 2361710 CIMEX SA shareholder 5,52600000%

RO 1633876 COMAT GALATI SA shareholder 9,45000000%

RO 1646841 COMMET SA shareholder 1,60066434%

RO 9682521 COMPPIL SA shareholder 57,79730000%

RO 2252764 CONCIVIA SA shareholder 11,58229471%

RO 2808208 CONFECTII BIRLAD SA shareholder 5,00001501%

RO 1641933 CONSTRUCTII FEROVIARE GALATI SA shareholder 8,45580627%

RO 622445 CONTED SA shareholder 1,17312300%

RO 2360766 DANUBIUS SA shareholder 28,95410000%

RO 25061950 DEPOZITARUL SIBEX SA shareholder 2,82352941%

RO 1625555 FABRICA DE ACCESORII METALICE FAM SA shareholder 23,35580000%

RO 1628241 GALGROS SA shareholder 13,99310000%

RO 621474 INDOR SA shareholder 4,48074755%






RO 2268833 ISTRU SA shareholder 47,25540000%

RO 952656 LUCEAFARUL SA shareholder 24,45100000%

RO 2045262 MECANICA CEAHLAU SA shareholder 55,10530000%

RO 957998 PANIMON SA shareholder 5,00000000%

RO 11334812 PARTMEN SA shareholder 26,59230000%

RO 3054900 PISCICOLA MURIGHIOL SA shareholder 30,00000000%

RO 33225778 REAL ESTATE ASSET S.A. shareholder 99,99970000%

RO 1647588 REGAL SA shareholder 93,01280000%

RO 2808089 RULMENTI SA shareholder 6,00454638%

RO 962838 STOFE BUHUSI SA shareholder 16,22600000%

RO 1632935 TRANSTEC SA shareholder 41,03085554%

RO 717936 URB RULMENTI SUCEAVA SA shareholder 15,87440000%

RO 826569 VASTEX SA shareholder 13,93520000%

RO 1636171 VITIMAS SA shareholder 1,47668700%

Smintina Alexandru

RO 16509150 CONTCONSULT SRL administratorandshareholder

100,00000000%

Business activities

Main activity NaceProduction of meat and poultry meat products 1013Additional activities NaceProcessing and preserving of meat 1011

Legal office and working spaces at the above mentioned address.

Economic data






Turnover and Employees

Date Turnover Employees31.12.2015 61.216.911 RON 27331.12.2014 59.324.310 RON 25531.12.2013 57.993.448 RON 28731.12.2012 59.986.377 RON 29431.12.2011 51.852.358 RON 27031.12.2010 50.038.543 RON 21831.12.2009 44.976.636 RON 23931.12.2008 41.127.554 RON 23731.12.2007 29.994.444 RON 23431.12.2006 23.223.527 RON 21531.12.2005 17.909.181 RON 17631.12.2004 14.112.960,2 RON 11331.12.2003 9.893.708,3 RON 8831.12.2002 6.301.630,9 RON 10531.12.2001 3.916.047,9 RON 100

PropertiesAccording to the Balance Sheet of 31.12.2015 date the company holds real estates with a book value of 6.174.794,00RON, but we do not have any other details on the type and location of these assets.

Supplementary data

Banks

Financial Institution BranchUnicredit Bank Sa Vaslui

The subject is registered in the Electronic Archive for Secured Transactions, as having credits at:- Unicredit Bank Sa, VasluiThese 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 Mostly within agreed terms, but partly also delayed (32)

Negative eventsAccording to the information registered at the Ministry of Finance, the company has no overdue debts to the State budgetas of 30.09.2016.

There are no records related to the subject at the Payment Incidents Bureau (CIP) in the period 12.01.2010 -12.01.2017.

According to Trade Register Vascar SA was sent to trial.

According to the information published in the media, MrS. CIUBURCIU GABRIELA was put on trial by the NationalAnticorruption Directorate, being charged of forgery, money laundering.

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 190.770 205.974 231.139

Goodwill r4 0 N/A N/A

Down payments and intangible fixed assets inprogress

r5 0 N/A N/A

TOTAL INTANGIBLE FIXED ASSETS r6 190.770 205.974 231.139

Land and buildings r7 4.856.133 4.718.518 4.614.135

Technical installations and machines r8 13.953.612 10.717.506 9.319.110

Other installations, machinery and furniture r9 498.967 463.258 494.940

Down payments and tangible fixed assets inprogress

r10 176.363 171.792 463.519

TOTAL TANGIBLE FIXED ASSETS r11 19.485.075 16.071.074 14.952.891

Shares in subsidiaries r12 0 N/A N/A

Loans given to subsidiaries r13 0 N/A 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 0 N/A N/A

TOTAL CAPITAL ASSETS r18 0 N/A N/A

NON CURRENT ASSETS - TOTAL r19 19.675.845 16.277.048 15.184.030

Raw materials and consumables r20 2.306.556 2.680.862 2.560.994

Work in progress r21 103.527 142.698 135.170






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Finished goods r22 2.467.503 2.327.248 2.639.194

Down payments on inventory purchases r23 0 N/A N/A

TOTAL INVENTORIES r24 4.877.586 5.150.808 5.335.358

Trade receivables r25 5.215.769 5.081.866 4.744.540

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 1.369.198 881.048 3.362.350

Unpaid subscribed capital r29 0 N/A N/A

TOTAL RECEIVABLES r30 6.584.967 5.962.914 8.106.890

Shares in subsidiaries r31 0 N/A N/A

Other short-term investments r32 0 N/A N/A

TOTAL SHORT-TERM INVESTMENTS r33 0 N/A N/A

PETTY CASH AND BANK ACCOUNTS r34 2.131.418 6.072.322 1.613.097

CURRENT ASSETS - TOTAL r35 13.593.971 17.186.044 15.055.345

PREPAID EXPENSES r36 9.535 29.479 2.388.726

TOTAL ASSETS r37 33.279.351 33.492.571 32.628.101

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 3.300.071 4.754.978 5.393.678

Down payments received on orders in progress r40 0 N/A N/A

Commercial debts - suppliers r41 2.230.932 3.600.125 3.482.166

Commercial bills due r42 3.020.323 3.306.990 2.450.645

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 4.568.688 5.441.893 4.540.362

TOTAL SHORT-TERM DEBTS r46 13.120.014 17.103.986 15.866.851

NET CURRENT ASSETS/NET CURRENTDEBTS

r47 483.492 -788.463 -1.949.629

TOTAL ASSETS MINUS CURRENT DEBTS r48 20.159.337 15.488.585 15.298.126

Debenture loans r49 0 N/A N/A

Amounts payable to credit entities r50 10.162.751 4.646.540 4.067.536

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






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

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 582.875 246.944 698.677

TOTAL LONG-TERM DEBTS r57 10.745.626 4.893.484 4.766.213

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 23.865.640 21.997.470 20.633.064

TOTAL PROVISIONS r62 0 0 N/A

Grants for investments r63 2.012.232 1.489.421 1.463.124

deferred income r64 0 900.000 N/A

TOTAL DEFERRED INCOME r65 2.012.232 2.389.421 1.463.124

Subscribed and paid capital r66 1.735.430 1.735.430 3.470.860

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 1.735.430 1.735.430 3.470.860

CAPITAL PREMIUM r70 0 N/A N/A

REVALUATION RESERVES r71 3.638.528 3.638.528 3.638.528

Legal reserves r72 166.077 265.652 345.890

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

Reserves representing the revaluation reservesurplus

r74 0 N/A N/A

Other reserves r75 3.710.148 3.710.148 1.974.718

TOTAL RESERVES r76 3.876.225 3.975.800 2.320.608

Own shares r77 0 N/A N/A

Earnings associated to own capital instruments r78 41 41 41

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

Reported profit or loss (e) Balance account C r80 0 0 0

Reported profit or loss (e) Balance account D r81 1.958.081 1.848.745 144.543

Profit or loss as per the financial year Balanceaccount C

r82 109.336 1.704.201 1.426.232

Profit or loss as per the financial year Balanceaccount D

r83 0 0 0

Profit distribution r84 0 99.575 179.813

SHAREHOLDERS’ EQUITY - TOTAL r85 7.401.479 9.105.680 10.531.913

Public patrimony r86 0 N/A N/A

EQUITY - TOTAL r87 7.401.479 9.105.680 10.531.913

TOTAL LIABILITIES r88 33.279.351 33.492.571 32.628.101

Profit and Loss Account






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Net turnover r89 57.993.448 59.324.310 61.216.911

Own work sold r90 29.504.945 41.756.304 41.660.352

Income from the sale of goods r91 28.712.256 17.898.805 19.877.750

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 22.802.401 15.286.644 15.192.126

Balance account D r95 0 N/A 0

Production made by the entity for its ownpurposes and capitalized

r96 0 1.369 153.190

Other operating income r97 1.331.392 580.064 109.427

OPERATING INCOME - TOTAL r98 82.127.241 75.192.387 76.671.654

Expenses on raw materials and consumables r99 34.964.635 37.103.767 36.914.701

Other expenses supplies and materials r100 215.684 289.303 250.107

Other outsourced expenses (electricity andwater)

r101 1.903.578 1.809.971 1.906.218

Expenses on goods r102 24.506.061 14.882.658 15.575.355

Expenses on personnel, of which: r103 6.838.445 7.474.419 8.544.994

Salaries and benefits r104 5.406.543 5.930.483 6.982.673

Insurance and social security costs r105 1.431.902 1.543.936 1.562.321

Adjustments of the value of tangible andintangible fixed assets

r106 4.077.064 3.949.920 3.833.691

Expenses r107 4.077.064 3.949.920 3.833.691

Income r108 0 N/A N/A

Adjustments of the value of current assets r109 0 16.374 N/A

Expenses r110 0 32.068 N/A

Income r111 0 15.694 N/A

Other operating costs r112 8.729.491 6.921.981 7.585.744

Expenses on third party services r113 7.344.197 6.678.128 7.345.873

Expenses on other taxes, duties and similarcharges

r114 207.731 192.700 144.408

Expenses on compensations, donations andassigned assets

r115 1.177.563 51.153 95.463

Expenses with refinancing interest rates ofleasing entities

r116 0 N/A N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Adjustments of provisions r117 -6.045 200.848 88.929

Expenses r118 1.609 200.848 88.929

income r119 7.654 N/A N/A

OPERATING EXPENSES - TOTAL r120 81.228.913 72.616.404 74.569.890

- Profit r121 898.328 2.575.983 2.101.764

- Loss r122 0 0 0

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 from interest rates, of which: r127 3.999 1.903 2.033


Other financial income r129 733.189 221.212 29.627

FINANCIAL INCOME - TOTAL r130 737.188 223.115 31.660

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 551.909 564.671 408.818

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

Other financial expenses r136 774.874 215.791 119.850

FINANCIAL EXPENSES - TOTAL r137 1.326.783 780.462 528.668

- Financial profit r138 0 0 0

- Financial loss r139 589.595 557.347 497.008

- Current profit r140 308.733 2.018.636 N/A






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

- Current loss r141 0 0 N/A

Extraordinary income r142 0 N/A N/A

Extraordinary expenses r143 0 27.141 N/A

- Extraordinary profit r144 0 0 N/A

- Extraordinary loss r145 0 27.141 N/A

TOTAL INCOME r146 82.864.429 75.415.502 76.703.314

TOTAL EXPENSES r147 82.555.696 73.424.007 75.098.558

- Gross profit r148 308.733 1.991.495 1.604.756

- Gross loss r149 0 0 0

Income tax r150 199.397 287.294 178.524

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

- Net profit r152 109.336 1.704.201 1.426.232

- Net loss r153 0 0 0

Net result r154 109.336 1.704.201 1.426.232

Additional information

Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Outstanding payments-total, of which: - TOTAL r155 446.605 N/A N/A

Accounts payable outstanding- total, of which: -TOTAL

r156 446.605 N/A N/A

over 30 days - TOTAL r157 204.721 N/A N/A

over 90 days - TOTAL r158 23.751 N/A N/A

over 1 year - TOTAL r159 218.133 N/A 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






Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

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 0 N/A 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

Average number of employees r175 287 255 273

Specific tangible fixed assets

Name Ref.31/12/2013

RONLONG

31/12/2014RONLONG

31/12/2015RONLONG

Lands r176 2.889.315 2.889.315 2.889.315

Buildings r177 3.239.858 3.248.711 3.285.479

Technical installations and machines r178 34.320.179 33.800.850 35.115.843

Amortization r179 N/A N/A N/A

Financial Ratios

Name Ref. 31/12/2013 31/12/2014 31/12/2015Debt Ratio R1 0,72 0,66 0,63

Quick ratio R2 0,66 0,70 0,61






Name Ref. 31/12/2013 31/12/2014 31/12/2015Current ratio R3 1,04 1,00 0,95

Solvency ratio R4 1,45 0,54 0,45

Return on sales ( ROS ) R5 0,00 0,03 0,02

Return on assets ( ROA ) R6 0,00 0,05 0,04

Return on equity ( ROE ) R7 0,01 0,19 0,14

Operating margin, in (%) R8 0,02 0,04 0,03

Days supply in inventory R9 30,70 31,69 31,81

Days sales in receivables R10 41,45 36,69 48,34

Days purchase in payables R11 82,57 105,23 94,60

SALES TO TOTAL ASSETS R12 1,74 1,77 1,88

OPERATING RESULT /TOTAL ASSETS R13 0,03 0,08 0,06

CASH RATIO R14 0,16 0,36 0,10

Equity as % of total assets R15 22,24 27,19 32,28

Fixed assets as % of total assets R16 59,12 48,60 46,54

Receivables as % of current assets R17 48,44 34,70 53,85

Net working capital R18 473957,00 82058,00 -811506,00

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

0.7 0.7 0.6

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

0.7 0.70.6

(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 1

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

1.4

0.5 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

0.2 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

30.7 31.7 31.8

(r24r89)

∗ 365

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

Days sales in receivables

4050

6070

8090

2013 2014 2015

4050

6070

8090

41.436.7

48.3

(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

2013 2014 2015

2040

6080

100

82.6

105.2

94.6

(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

2013 2014 2015

0.0

0.5

1.0

1.5

1.7 1.81.9

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 0.1 0.1

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

0.2

0.4

0.1

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

2030

4050

6070

80

2013 2014 2015

2030

4050

6070

80

22.227.2

32.3

(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

2030

4050

6070

80

2013 2014 2015

2030

4050

6070

80

59.1

48.6 46.5

(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

2013 2014 2015

4050

6070

48.4

34.7

53.8

(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

-8e+

05-4

e+05

0e+0

04e

+05

2013 2014 2015

-8e+

05-4

e+05

0e+0

04e

+05

473957

82058

-811506

r35 − r46

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


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