TEAM NAMES

EXAM FINANCIAL ANALYSIS BEGINNERS BALANCE SHEET INTANGIBLE ASSETS TANGIBLE ASSETS FINANCIAL ASSET INVENTORY ACCOUNT RECEIVABLE BANK CASH 100,000 1,630,000 3,670,000 16,610,000 4,960,000 240,000 140,000 27,350,000 ACCOUNT PAYABLE SUPPLIERS ACCOUNT PAYABLE STATE ACCOUNT PAYABLE OTHERS 1,840,000 3,440,000 1,510,000 27,350,000 COMMON STOCK RETAINED EARNINGS LTB 7,000,000 560,000 13,000,000

P/L TURNOVER COGS GROSS MARGIN OVERHEAD ADDED VALUE TAX/WAGES EBITDA DEPRECIATION 25,030,000 9,000,000 16,030,000 2,810,000 13,220,000 13,890,000 -670,000 -300,000

FINANCIAL RESULT -340,000 RESULT BEFOR TAXES -1,310,000

EXAM FINANCIAL ANALYSIS BEGINNERS 1. What would you say on the profitability of the company? Gross Profit Margin Gross Profit Turnover Net Profit Turnover Result befor taxes turnover 64.04%

Net Profit Margin

-2.68%

Net Global Margin

-5.23%

The cost over the goods sold of the Company don't have much impact on the Turnover as it is showed in the Gross Profit Margin ratio; however, the wages and taxes are extremely expensive to make the Company profitable because of the difference between Net Profit Margin and Net global Margin are not that high. Therefore we recomend them to review the employees payrole in order to reduce the cost and make profit. 2. What would you say of the behavior of the shareholders? Equity Shareholders Long Term Borrowings Financial Result LTB 58.15% INDEPENDENCE RATIO

-2.62%

Retained Earnings has a significant impact since it was reduced by 70% (last year 1,870,000 €, this year 560,000 €). Additionaly it seems that shareholders prefer to take advantage of low interest rate offered by the Bank instead of investing and taking risk on the Company (2.6%). The Firm is being mostly financed in the long term by the Bank as it is indicated in the Independence Ratio. In spite of this fact, we can not state if