Creditreform reportCrefo No.: 471699 Company identiﬁcation · 300167 Timisoara Timis WEB Romania...

Creditreform Romania

Date / Time 19/05/2016 / 13:31Customer No. RO - 1247Your No. 27261/21253 /

Order No. 1446857Last research date 19/05/2016 from 17

Creditreform report Crefo No.: 471699

Company identification

AGROLAND BUSINESS SYSTEM SRL Telephone +40 731 333791Garii 14 E-mail [email protected] Timisoara Timis WEB www.agroland.roRomania

Crefo No. 471699 Registration No. J35/405/2009Tax No. RO 25165241 Status Active

Solvency index

S280

Solvency index between 221 and 320 means ”average rating”.

This class represents moderate risk in a business partnership. Business connections appear permissible, unsecuredcredits are still possible moderate credit risk.

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 2014 2015 2016

600

500

400

300

200

100

295 290 290 280

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 55.000 (EUR)Business connection Business connections appear permissible (31)Payment behaviour No complaints, but occasional delays (31)

Basic information

Legal formPrivate Limited Company

Registration and changes

established on 20.02.2009 as Agroland Business System Srl Private Limited Company

Owners and Capital

Name / Address / Nationality From ShareMartin Stefan (birth date 11/09/1939)BUZIAS, RomaniaRomanian

23/12/2009 100,000000 %

Registered capital

Currency ValueRON 1.000.200

Management

Name / Address / Status Since PositionCardos Horia Dan (birth date 24/02/1968)MUNICIPIUL TIMISOARARomania

26/01/2009 Administrator






Company addresses information

Working pointsTimisoara, Str.Timisoarei, Nr.56, Jud.TimisTimisoara, Str.Simion Barnutiu, Nr.36, Jud.TimisTimisoara, Str.Divizia 9 Cavalerie, Nr.51a, Jud.TimisTimisoara, Str.Carpati, Nr.117a, Jud.TimisTimisoara, Str.Calea Torontalului, Nr.56, Jud.Timis

Subsidiaries

Participation of the company

Tax No. Name / Address ShareParticipations of the company

RO 32609541 CLOUD & MOBILES & MORE SRL 50,00000000%

RO 14522187 SPORTS GAMES SRL 33,00000000%

Connections

Through Name / Address Position ShareCardos Horia Dan

RO 19345337 ASTRADRIVING SRL administratorandshareholder

50,00000000%

RO 32609541 CLOUD & MOBILES & MORE SRL administrator

RO 9050231 DEVEST FARMATECH SRL administratorandshareholder

90,00000000%

RO 27652472 NORSEMEN CONSULTING SRL administratorandshareholder

100,00000000%

RO 14522187 SPORTS GAMES SRL administrator

Business activities

Main activity NaceRetail sale of flowers, plants, seeds, fertilisers, pet animals and pet food in specialised 4776






Legal office and working spaces at the above mentioned address

Economic data

Turnover and Employees

Date Turnover Employees31.12.2014 82.136.029 RON 6531.12.2013 58.147.065 RON 5831.12.2012 44.069.467 RON 5431.12.2011 32.252.553 RON 4031.12.2010 25.333.428 RON 2931.12.2009 3.453.021 RON 6

PropertiesAccording to the Balance Sheet of 31.12.2014 date the company holds real estates with a book value of 3.912.489,00RON, but we do not have any other details on the type and location of these assets.

Supplementary data

Banks

Financial Institution BranchAlpha Bank TimisoaraBanca Comerciala Carpatica TimisoaraCredit Europe Bank TimisoaraRaiffeisenbank Romania Timisoara

The subject is registered in the Electronic Archive for Secured Transactions, as having credits at:- Alpha Bank, Timisoara- Banca Comerciala Carpatica, Timisoara- Credit Europe Bank, Timisoara- Raiffeisenbank Romania, 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 55.000 (EUR)Business connection Business connections appear permissible (31)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 19.05.2009 -19.05.2016.

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

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Incorporation expenses r1 N/A 0 N/A

Development expenses r2 N/A 0 N/A

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

r3 N/A 279.680 253.949

Goodwill r4 N/A 0 N/A

Down payments and intangible fixed assets inprogress

r5 N/A 0 N/A

TOTAL INTANGIBLE FIXED ASSETS r6 393.975 279.680 253.949

Land and buildings r7 N/A 230.535 3.899.402

Technical installations and machines r8 N/A 894.411 1.036.166

Other installations, machinery and furniture r9 N/A 12.082 22.930

Down payments and tangible fixed assets inprogress

r10 N/A 1.202.143 1.574.832

TOTAL TANGIBLE FIXED ASSETS r11 584.227 2.339.171 6.533.330

Shares in subsidiaries r12 N/A 100 430

Loans given to subsidiaries r13 N/A 2.723.487 822.184

Participating interests r14 N/A 0 N/A

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

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

Other loans r17 N/A 22.300 350.385

TOTAL CAPITAL ASSETS r18 16.799 2.745.887 1.172.999






Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

NON CURRENT ASSETS - TOTAL r19 995.001 5.364.738 7.960.278

Raw materials and consumables r20 N/A 85.293 102.731

Work in progress r21 N/A 0 N/A

Finished goods r22 N/A 2.808.856 4.986.737

Down payments on inventory purchases r23 N/A 5.815 28.315

TOTAL INVENTORIES r24 3.885.118 2.899.964 5.117.783

Trade receivables r25 N/A -136.357 1.563.136

Receivables from subsidiaries r26 N/A 0 1.504.984

Receivables from entities in respect ofparticipating interests

r27 N/A 0 N/A

Other receivables r28 N/A 425.286 629.212

Unpaid subscribed capital r29 N/A 0 N/A

TOTAL RECEIVABLES r30 736.064 296.468 3.697.332

Shares in subsidiaries r31 N/A 0 N/A

Other short-term investments r32 N/A 7.539 823.091

TOTAL SHORT-TERM INVESTMENTS r33 0 7.539 823.091

PETTY CASH AND BANK ACCOUNTS r34 62.970 173.057 1.195.692

CURRENT ASSETS - TOTAL r35 4.684.152 3.369.489 10.833.898

PREPAID EXPENSES r36 736 40.281 102.406

TOTAL ASSETS r37 5.679.889 8.774.508 18.896.582

Liabilities

Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Debenture loans r38 N/A 0 N/A

Amounts payable to credit entities r39 N/A 3.855.698 9.979.162

Down payments received on orders in progress r40 N/A 13.129 15.315

Commercial debts - suppliers r41 N/A 2.240.855 4.725.561

Commercial bills due r42 N/A 31.063 126.755

Amounts payable to subsidiaries r43 N/A 0 74.024

Amounts payable to associates in respect ofparticipating interests

r44 N/A 0 N/A

Other debts, including fiscal debts and amountspayable to social security

r45 N/A 755.006 312.221

TOTAL SHORT-TERM DEBTS r46 4.070.710 6.895.751 15.233.038

NET CURRENT ASSETS/NET CURRENTDEBTS

r47 574.607 -3.523.925 -4.324.450

TOTAL ASSETS MINUS CURRENT DEBTS r48 1.569.608 1.840.813 3.635.828

Debenture loans r49 N/A 0 N/A

Amounts payable to credit entities r50 N/A 24.307 15.207

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

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






Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Commercial bills due r53 N/A 0 N/A

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

Amounts payable to associates in respect ofparticipating interests

r55 N/A 0 N/A

Other debts, including fiscal debts and amountspayable to social security

r56 N/A 317.390 495.979

TOTAL LONG-TERM DEBTS r57 344.287 341.697 511.186

Provisions for pensions and other similarobligations

r58 N/A 0 N/A

Provisions for taxes r59 N/A 0 N/A

Other provisions r60 N/A 0 N/A

TOTAL DEBTS r61 4.414.997 7.237.448 15.744.224

TOTAL PROVISIONS r62 0 0 0

Grants for investments r63 0 0 59.987

deferred income r64 39.571 37.944 27.716

TOTAL DEFERRED INCOME r65 39.571 37.944 87.703

Subscribed and paid capital r66 200 1.000.200 1.000.200

Subscribed and unpaid capital r67 0 0 N/A

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

TOTAL SHARE CAPITAL r69 200 1.000.200 1.000.200

CAPITAL PREMIUM r70 0 0 N/A

REVALUATION RESERVES r71 0 0 N/A

Legal reserves r72 N/A 44.985 135.722

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

Reserves representing the revaluation reservesurplus

r74 N/A 0 N/A

Other reserves r75 N/A 0 N/A

TOTAL RESERVES r76 40 44.985 135.722

Own shares r77 0 0 N/A

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

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

Reported profit or loss (e) Balance account C r80 338.469 0 453.931

Reported profit or loss (e) Balance account D r81 0 270.906 N/A

Profit or loss as per the financial year Balanceaccount C

r82 886.612 769.782 1.565.539

Profit or loss as per the financial year Balanceaccount D

r83 0 0 0

Profit distribution r84 0 44.945 90.737

SHAREHOLDERS’ EQUITY - TOTAL r85 1.225.321 1.499.116 3.064.655

Public patrimony r86 0 0 N/A

EQUITY - TOTAL r87 1.225.321 1.499.116 3.064.655

TOTAL LIABILITIES r88 5.679.889 8.774.508 18.896.582

Being a new founded company there are no financial figures registered.






Profit and Loss Account

Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Net turnover r89 44.069.467 58.147.065 82.136.029

Own work sold r90 331.060 475.526 749.198

Income from the sale of goods r91 43.738.407 58.370.976 82.721.416

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

Income from grants related to incomecorresponding to net turnover

r93 0 0 61.009

——-Balance account C r94 0 0 N/A

Balance account D r95 0 0 N/A

Production made by the entity for its ownpurposes and capitalized

r96 0 0 N/A

Other operating income r97 13.724 103.284 73.918

OPERATING INCOME - TOTAL r98 44.083.191 58.250.349 82.209.947

Expenses on raw materials and consumables r99 527.893 894.125 1.055.707

Other expenses supplies and materials r100 199.556 168.188 444.572

Other outsourced expenses (electricity andwater)

r101 16.301 59.712 109.111

Expenses on goods r102 38.535.086 49.069.116 69.128.868

Expenses on personnel, of which: r103 785.229 1.348.430 1.528.625

Salaries and benefits r104 613.847 1.053.464 1.205.846

Insurance and social security costs r105 171.382 294.966 322.779

Adjustments of the value of tangible andintangible fixed assets

r106 211.006 323.075 474.710

Expenses r107 211.006 323.075 474.710

Income r108 0 0 N/A

Adjustments of the value of current assets r109 118.593 94.864 90.232

Expenses r110 118.593 94.864 90.232

Income r111 0 0 N/A

Other operating costs r112 2.639.031 5.073.632 7.626.219

Expenses on third party services r113 2.472.192 4.302.417 7.010.140

Expenses on other taxes, duties and similarcharges

r114 91.161 67.698 88.592






Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Expenses on compensations, donations andassigned assets

r115 75.678 703.517 527.487

Expenses with refinancing interest rates ofleasing entities

r116 0 0 N/A

Adjustments of provisions r117 0 0 N/A

Expenses r118 0 0 N/A

income r119 0 0 N/A

OPERATING EXPENSES - TOTAL r120 43.032.695 56.930.427 80.456.898

- Profit r121 1.050.496 1.319.922 1.753.049

- Loss r122 0 0 0

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

income obtained from subsidiaries r124 0 0 N/A

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

r125 0 0 N/A


Income from interest rates, of which: r127 64 53 2.262


Other financial income r129 142.754 23.891 612.678

FINANCIAL INCOME - TOTAL r130 142.818 23.944 614.940

Value adjustments in respect of capital assetsand investments as current assets

r131 0 0 N/A

Expenses r132 0 0 N/A

income r133 0 0 N/A

Interest expenses r134 127.516 293.485 480.730

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

Other financial expenses r136 37.088 154.389 72.516

FINANCIAL EXPENSES - TOTAL r137 164.604 447.874 553.246

- Financial profit r138 0 0 61.694






Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

- Financial loss r139 21.786 423.930 0

- Current profit r140 1.028.710 895.992 1.814.743

- Current loss r141 0 0 0

Extraordinary income r142 0 0 N/A

Extraordinary expenses r143 0 0 0

- Extraordinary profit r144 0 0 0

- Extraordinary loss r145 0 0 0

TOTAL INCOME r146 44.226.009 58.274.293 82.824.887

TOTAL EXPENSES r147 43.197.299 57.378.301 81.010.144

- Gross profit r148 1.028.710 895.992 1.814.743

- Gross loss r149 0 0 0

Income tax r150 142.098 126.210 249.204

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

- Net profit r152 886.612 769.782 1.565.539

- Net loss r153 0 0 0

Net result r154 886.612 769.782 1.565.539

Additional information

Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Outstanding payments-total, of which: - TOTAL r155 56.099 0 N/A

Accounts payable outstanding- total, of which: -TOTAL

r156 0 0 N/A

over 30 days - TOTAL r157 0 0 N/A

over 90 days - TOTAL r158 0 0 N/A

over 1 year - TOTAL r159 0 0 N/A






Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

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

r160 46.932 0 N/A

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

r161 34.142 0 N/A

contributions to the social health insurance fund -TOTAL

r162 11.426 0 N/A

contribution to the additional state pensionsystem - TOTAL

r163 0 0 N/A

contributions to the unemployment fund - TOTAL r164 1.364 0 N/A

other social liabilities - TOTAL r165 0 0 N/A

Payments due to special funds and other funds -TOTAL

r166 0 0 N/A

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

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

r168 9.167 0 N/A

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

r169 0 0 N/A

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 N/A

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

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

Past due interest - TOTAL r174 0 0 N/A

Average number of employees r175 54 58 65

Specific tangible fixed assets

Name Ref.31/12/2012

RONLONG

31/12/2013RONLONG

31/12/2014RONLONG

Lands r176 0 0 1.853.750

Buildings r177 0 231.500 2.058.739

Technical installations and machines r178 774.979 1.202.577 1.649.106

Amortization r179 N/A N/A N/A

Financial Ratios






Name Ref. 31/12/2012 31/12/2013 31/12/2014Debt Ratio R1 0,78 0,82 0,83

Quick ratio R2 0,20 0,07 0,38

Current ratio R3 1,15 0,49 0,71

Solvency ratio R4 0,28 0,23 0,17

Return on sales ( ROS ) R5 0,02 0,01 0,02

Return on assets ( ROA ) R6 0,16 0,09 0,08

Return on equity ( ROE ) R7 0,72 0,51 0,51

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

Days supply in inventory R9 32,18 18,20 22,74

Days sales in receivables R10 6,10 1,86 16,43

Days purchase in payables R11 33,72 43,29 67,69

SALES TO TOTAL ASSETS R12 7,76 6,63 4,35

OPERATING RESULT /TOTAL ASSETS R13 0,18 0,15 0,09

CASH RATIO R14 0,02 0,03 0,08

Equity as % of total assets R15 21,57 17,08 16,22

Fixed assets as % of total assets R16 17,52 61,14 42,12

Receivables as % of current assets R17 15,71 8,80 34,13

Net working capital R18 613442,00 -3526262,00 -4399140,00

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

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

2012 2013 20140.

00.

51.

01.

5

0.20.1

0.4

(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

2012 2013 2014

0.5

1.0

1.5

2.0

1.1

0.5

0.7

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

2012 2013 2014

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

0.3 0.2 0.2

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

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

0.2 0.1 0.1

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

2012 2013 2014

-0.5

0.0

0.5

1.0

0.7

0.5 0.5

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

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

1020

3040

5060

7080

2012 2013 2014

1020

3040

5060

7080

32.2

18.222.7

(r24r89)

∗ 365

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

Days sales in receivables

020

4060

80

2012 2013 2014

020

4060

80

6.11.9

16.4

(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

2012 2013 2014

2040

6080

100

33.7

43.3

67.7

(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

02

46

8

2012 2013 2014

02

46

8 7.8

6.6

4.3

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

2012 2013 2014

-0.5

0.0

0.5

1.0

0.2 0.2 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

2012 2013 2014

-0.5

0.0

0.5

1.0

0 0 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

2012 2013 2014

2030

4050

6070

80

21.617.1 16.2

(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

2012 2013 2014

2030

4050

6070

80

17.5

61.1

42.1

(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

1020

3040

5060

70

2012 2013 2014

1020

3040

5060

70

15.7

8.8

34.1

(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

-4e+

06-2

e+06

0e+0

0

2012 2013 2014

-4e+

06-2

e+06

0e+0

0

613442

-3526262

-4399140

r35 − r46

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


Creditreform reportCrefo No.: 471699 Company identiﬁcation · 300167 Timisoara Timis WEB Romania...

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