CREDIT REPORT


© Coface Bulgaria Credit Management Services EOOD
email: office@coface.bg
11.12.2005 08:44

COMPANY REPORTED: EVROMARKET-BRD OOD
International Name: EVROMARKET-BRD

Registered office:
kv. DARVENITSA bl. 33 vh.V et.4
1756 SOFIYA
BULGARIA
Tel: +359-2-777561, +359-2-717378, +359-2-777561
Fax: +359-2-719534

Principal Address:
41, George Washington Str
1202 Sofia
BULGARIA
Tel: +359-2-981-58-38, +359-2-981-58-35, +359-2-981-58-24, +359-2-981-40-05
Fax: +359-2-981-59-24
Email: embrd_bg@cablebg.net
Internet: http://www.euromarket-group.com/

National ID: 040186203
VAT number: 2227010722

Information valid on: 11.12.2005

ESTABLISHED: 1992

REGISTRATION: No. 21935
1992
Sofia town court, BULGARIA

LEGAL FORM: limited liability company

CAPITAL: BGL 5 Thousand

SHAREHOLDERS: BORYANA GEORGIEVA RADEVA
Partner
03.05.1999 - Present
EQUITY: 38%

DIMITAR PETROV ILCHEV
Partner
03.05.1999 - Present
EQUITY: 37%

ROSEN PETROV ILCHEV
Partner
03.05.1999 - Present
EQUITY: 25%

MANAGEMENT: BORYANA GEORGIEVA RADEVA - Managing Director
03.05.1999 - Present

DIMITAR PETROV ILCHEV - Managing Director
03.05.1999 - Present

SUBJECT OF OPERATION: NACE
  5154 Wholesale of hardware, plumbing and heating equipment and supplies

Wholesale and retail of hand, pneumatic
and electrical tools, compressors and
generators. Two main lines of business -
professional and D.I.Y. tools. Marketing
research (as related on the trade).
Subject is an official representative of:
"GEDORE" - Germany, for hand tools, tel. +49/219 159 60, fax. +49/219 159 6230
"RAHSOL" - Germany
"PFERD" - Germany
"J.D.NEUHAUS" - Germany
"MIB" - Germany
"TRACTEL" - Francefor lifting and pulling machines.tel. +33/1 48 58 91 32, fax. +33/1 48 58 19 95
"VIRAX" - Francefor pipe threading and bending equipment and toolstel. +33/26 59 56 97, fax. +33/26 59 56 70
"LINCOLN ELECTRIC" - USA
"HARIS CALORIFIC" - USA, Italy
"G.B.C.INDUSTRIAL" - Italy
"MAUS" - Italy
"A.E.C.TEHNOLOGI" - Italy
"ATLAS COPCO POWER TOOLS: made in "AEG" - Germanymade in "MILWAKEE" - USAmade in "ATLAS COPCO" - Sweden
"PRESSOL" - Germany

The company is official representative of 38 companies (the major ones given above) and has over 150 suppliers.


IMPORTS:
2001 AUSTRIA
USD 122.754,00
2001 BELGIUM
USD 62.947,00
2001 BULGARIA
USD 7,00
2001 BRAZIL
USD 310,00
2001 CANADA
USD 6.149,00
2001 SWITZERLAND
USD 3.684,00
2001 CHINA
USD 233.674,00
2001 CZECH REPUBLIC
USD 45.985,00
2001 GERMANY
USD 764.893,00
2001 DENMARK
USD 736,00
2001 SPAIN
USD 5.272,00
2001 FRANCE
USD 161.568,00
2001 UNITED KINGDOM
USD 34.010,00
2001 IRELAND
USD 2.039,00
2001 ISRAEL
USD 8.582,00
2001 INDIA
USD 34.252,00
2001 ITALY
USD 419.324,00
2001 JAPAN
USD 1.505,00
2001 SRI LANKA
USD 5,00
2001 NETHERLANDS
USD 198.867,00
2001 PAKISTAN
USD 15,00
2001 POLAND
USD 168,00
2001 PORTUGAL
USD 2.081,00
2001 ROMANIA
USD 24,00
2001 SLOVENIA
USD 14.400,00
2001 SLOVAKIA (Slovak Republic)
USD 3.185,00
2001 TURKEY
USD 218.539,00
2001 TAIWAN, PROVINCE OF CHINA
USD 40.111,00
2001 UNITED STATES
USD 94.209,00
2001 VIET NAM
USD 50,00
2001 SOUTH AFRICA
USD 809,00

EXPORTS:
2001 AUSTRIA
USD 548,00
2001 FRANCE
USD 4.127,00
2001 UNITED KINGDOM
USD 3.955,00
2001 MACEDONIA, THE FORMER YUGOSLAV REPUBLIC OF
USD 5.541,00
2001 UKRAINE
USD 1.309,00

FINANCIALS:

Financial data for 1998 in this document has been adjusted to take account of the redenomination of the Bulgarian Lev during 1999.

Amounts shown in Bulgarian Lev (BGL)  2001 2000 1999 1998

BALANCE SHEET
Land and buildings 47.000,00 47.000,00 47.000,00 47.168,00
Other tangible fixed assets 486.000,00 313.000,00 151.000,00 97.179,00
Tangible fixed assets 533.000,00 360.000,00 198.000,00 144.347,00
Software 17.000,00 13.000,00 14.000,00 497,00
Intangible assets 17.000,00 13.000,00 14.000,00 497,00
Shares in undertakings       90,00
Long-term investments       90,00
FIXED ASSETS 550.000,00 373.000,00 212.000,00 144.934,00
Inventory - Trading Goods 2.606.000,00 2.476.000,00 2.086.000,00 1.126.325,00
Inventory 2.606.000,00 2.476.000,00 2.086.000,00 1.126.325,00
Trade debtors (receivables from customer) 525.000,00 233.000,00 245.000,00 64.295,00
Loans and advances to customers 363.000,00 17.000,00 2.000,00 2.020,00
Short-term receivables from government and other institutions 8.000,00      
Other debtors (other receivables) 58.000,00 48.000,00 9.000,00 1.814,00
Short-term receivables 954.000,00 298.000,00 256.000,00 68.129,00
Cash in hand 42.000,00 52.000,00   31,00
Cash in bank 356.000,00 13.000,00 282.000,00 82.459,00
Blocked cash   11.000,00    
Liquid assets 398.000,00 76.000,00 282.000,00 82.490,00
Prepaid expenses 32.000,00 64.000,00 78.000,00 103.419,00
CURRENT ASSETS 3.990.000,00 2.914.000,00 2.702.000,00 1.380.363,00
TOTAL ASSETS 4.540.000,00 3.287.000,00 2.914.000,00 1.525.297,00
Subscribed and paid capital 5.000,00 5.000,00 5.000,00 5.000,00
SHAREHOLDERS EQUITY 5.000,00 5.000,00 5.000,00 5.000,00
Revaluation reserves 32.000,00 32.000,00 26.000,00 23.882,00
Profit or loss carried forward 475.000,00 352.000,00 156.000,00 -93.295,00
Profit of the year 131.000,00 123.000,00 196.000,00 249.722,00
Equity capital 643.000,00 512.000,00 383.000,00 185.309,00
Long-term loans 791.000,00      
Longterm trade liabilities 791.000,00      
Other long-term liabilities 57.000,00 73.000,00    
Long-term liabilities 848.000,00 73.000,00    
S-term Liabilities payable to financial institutions 377.000,00 482.000,00   33.524,00
Short-term liabilities for loans   131.000,00    
Short-term trade creditors 1.609.000,00 1.090.000,00 1.011.000,00 627.552,00
S-term Liabilities for taxes, contributions and other fees 35.000,00 9.000,00 52.000,00 108.223,00
Short-term liabilities to employees 32.000,00 26.000,00    
Social security charges 225.000,00 190.000,00 14.000,00 53.136,00
Other short-term liabilities 38.000,00 12.000,00 387.000,00  
Short-term liabilities for advance payments, deposits and guaranties 958,00 952.000,00 1.067.000,00 570.689,00
Short-term liabilities 3.049.000,00 2.702.000,00 2.531.000,00 1.339.988,00
Total liabilities 4.540.000,00 3.287.000,00 2.914.000,00 1.525.297,00

PROFIT & LOSS
Cost of raw materials and consumables 143.000,00 106.000,00 39.000,00 38.476,00
External services 844.000,00 702.000,00 456.000,00 371.692,00
Wages and salaries 715.000,00 644.000,00 381.000,00 157.970,00
Social security charges 225.000,00 190.000,00 14.000,00 53.136,00
Depreciation 85.000,00 47.000,00 26.000,00 10.013,00
Other operating expenses 176.000,00 128.000,00 119.000,00 90.549,00
Cost of goods sold 5.990.000,00 4.400.000,00 3.724.000,00 2.685.589,00
Total operating expenses 8.178.000,00 6.217.000,00 4.888.000,00 3.407.425,00
Interest payable (interest expenses) 106.000,00 59.000,00 9.000,00 20.668,00
Foreign exchange losses 254.000,00 420.000,00 240.000,00 212.969,00
Other expenses on financial transactions 56.000,00 49.000,00 30.000,00 25.867,00
Expenses on financial transactions (financial expenditures) 416.000,00 528.000,00 279.000,00 259.504,00
Extraordinary expenses 1.000,00 8.000,00 6.000,00 329,00
Profit on ordinary activities (before taxation) 186.000,00 186.000,00 301.000,00 342.142,00
Taxes,duties and similar expenses 55.000,00 63.000,00 105.000,00 92.420,00
Profit tax 35.000,00 44.000,00 74.000,00 67.442,00
Other taxes 20.000,00 19.000,00 31.000,00 24.978,00
Profit after taxation 131.000,00 123.000,00 196.000,00 249.722,00
Total expenses 8.781.000,00 6.939.000,00 5.474.000,00 4.009.400,00
Turnover /sales,revenue/ 8.457.000,00 6.623.000,00 5.294.000,00 3.827.597,00
Other operating income 67.000,00 21.000,00 31.000,00 21.304,00
Total operating income 8.524.000,00 6.644.000,00 5.325.000,00 3.848.901,00
Interest receivable and similar income (interest income)   1.000,00 1.000,00  
Foreign exchange gains 209.000,00 281.000,00 148.000,00 160.499,00
Income from financial transactions (financial income) 209.000,00 282.000,00 149.000,00 160.499,00
Extraordinary income (extraordinary benefit) 48.000,00 13.000,00    
Total income 8.781.000,00 6.939.000,00 5.474.000,00 4.009.400,00
Approximate exchange rates: 2001: 1,955 BGL = 1 EUR
2000: 1,955 BGL = 1 EUR
1999: 1,955 BGL = 1 EUR
1998: 1,955 BGL = 1 EUR

FINANCIAL DATA: According to Bulgarian legislation, balance sheets are filed by 31 March next year, therefore balance sheet for 2002 is not available yet.

WORKFORCE:
2002
127

INVENTORY:
  2001 2000 1999 1998
Inventory BGL 2.606.000,00 BGL 2.476.000,00 BGL 2.086.000,00 BGL 1.126.325,00
Inventory - Trading Goods BGL 2.606.000,00 BGL 2.476.000,00 BGL 2.086.000,00  

TURNOVER:
2002 2001 2000 1999
BGL 9.200.000,00 BGL 8.457.000,00 BGL 6.623.000,00 BGL 5.294.000,00

LIABILITIES:
2001 2000 1999 1998
BGL 3.897.000,00 BGL 2.775.000,00 BGL 2.531.000,00 BGL 1.339.988,00

Comment to car park: 10 own vehicles + 16 leased vehicles

REAL ESTATE: The company rents office and storage premises (on the principal address) of 1500 m2

Presently the company starts building of a new office center in Sofia (between Darvenitza and Mladost) of total area 3475 m2 (estimated value of the project EUR 1,2 million)
The new center is planned to be opened in 2003.

Offices abroad:
Ukraine, Yugoslavia, Croatia, Slovenia

Offices in Bulgaria:
Sofia, Plovdiv, Varna, Burgas, Stara Zagora, Kozlodui, Ruse, Gabrovo

BANKERS: UNIONBANK AD - Account no. 1000007809


DATES: date of validity: 06.02.2003
date of last record maintenance: 11.02.2003

PAYMENT MORALE: 250: Payments are made within net agreements.

CREDIT RATING: 200: Financial situation is good.

DEBT COLLECTION: There is no record of any debt collection action by Coface Intercredit against this company

MAXIMUM CREDIT: EUR 100.000,00

Maximum Credit is to be understood as the highest possible engagement for a supplier delivering goods or rendering services on open terms with an average respite of 60 days. (It is assumed that, on the average, the company in question has 5 suppliers, who deliver goods or render services at the same time.)



PAYMENT MORALE
CREDIT RATING
100-149
Payments are made very correctly.
Financial situation is excellent.
150-199
Payments are made correctly.
Financial situation is very good.
200-249
Payments are sometimes made using cash discounts or according to conditions.
Financial situation is good.
250-299
Payments are made within net agreements.
Financial situation is satisfactory.
300-349
As a rule payments are made on time according to conditions, in some cases there have been delays and reminders.
Financial situation is average.
350-399
Payments are made irregularly, sometimes according to agreements. In several cases reminders have been necessary.
Financial situation is average, increased use of external capital.
400-449
Payments are made very slowly.
Overall financial situation is still average.
450-499
Payments are made very slowly. collection procedures cannot be ruled out.
Financial situation is temporarily critical.
500-549
Payments are made very slowly, reminders are often necessary. There have also been collection procedures.
Financial situation is critical.
550-599
Payments are made very slowly. There have been frequent collection procedures.
Financial situation is very critical.
600-699
Payments are made extremely slowly. There have been frequent collection procedures.
High risk of bankruptcy.

End of document.