Post on 10-Oct-2020
Part of the BISNODE group, Stockholm, Sweden
Društvo sa ograničenom odgovornošću " POLIGARDEN"Donje Crnjelovo
Published 10/15/2018
CREDITWORTHINESS RATINGREPORTPublisher: Bisnode BH d.o.o.
© CREDITWORTHINESS RATING REPORT. All rights reserved.Web: bisnode.ba/aaa, tel: +387 33 215454
Table of contents
01. What is creditworthiness rating?
02. Registration data
03. Balance sheet
04. Income statement
05. Indicators
06. Graphic analysis
07. Methodology
08. Statistics
09. About Bisnode
10. Certificate
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
What is creditworthiness rating?
Creditworthiness rating is above-average rating value of entities - economic operators. It is based on theentities' financial statements for the last business year and forecasts the safety of operations in the nexttwelve months.
Companies with excellent solvency operate above average and it is less likely that their transactionaccount will be frozen next year. To get excellent solvency rating a company must meet the followingquality standards:
have at least three employeecompany should be active for at least seven yearscapital of at least 100.000 BAMnet profit margin of at least 3%operating revenues of at least 700.000 BAMprobability of a negative event less than 3,12% (insolvency, cancelation or blocked bank account)
There is a 82% probability that entities with AAA creditworthinessrating will maintain the creditworthiness rating also in the nextyear.
Certification has become an established practice in the international environment and a method forentities to further consolidate their reputation and trust in domestic and foreign business environment.The holders of a certificate thus gain additional trust of their business partners.
The Bisnode Group has a long-term tradition in granting certificates of rating excellence in the following12 European countries: Sweden, Norway, Finland, Denmark, Germany, Slovenia, Croatia, Serbia, Bosniaand Herzegovina, Poland, Czech Republic and Hungary. In the next years, certification will be carried outat the level of the entire group of 18 European countries in which Bisnode operates.
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
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Registration data
Company name: Društvo sa ograničenom odgovornošću " POLIGARDEN" DonjeCrnjelovo
Address: Donje Crnjelovo bb, 76300 BIJELJINA
Activity: C 31.09 MANUFACTURE OF OTHER FURNITURE
Legal status: DRUŠTVO SA OGRANIČENOM ODGOVORNOŠĆU
Tax no.: 4402019980001
Date of entry: 12/27/2004
Size: Small
Region: Mezoregion Bijeljina
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
2
Balance sheet
Source: FIA and APIF
Data in 1000 BAM 2015 2016 2017
ASSETS
Fixed assets 84,055 74,570 175,649
Current assets 106,845 126,953 97,834
Supplies 23,242 64,270 36,816
Claims 53,419 17,482 22,472
Cash and cash equivalents 30,007 44,965 35,918
LIABILITIES
Capital 172,409 144,121 247,164
Long-term provisions 0 0 0
Long-term liabilities 0 0 0
Short-term liabilities 18,491 57,402 26,319
Liabilities 190,900 201,523 273,483
The average number of employees 9 15 18
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
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Income Statement
Source: FIA and APIF
Data in 1000 BAM 2015 2016 2017
Revenues from sales 0 708,417 853,584
Cost of goods, materials and services 226,553 332,798 378,776
Wages, salaries and other employee expenses 75,472 114,082 142,260
Write-offs 13,352 14,100 13,537
Operating profit (EBIT) 28,855 133,935 201,963
Operating profit (EBITDA) 29,565 93,073 202,112
Financial revenues 1,476 0 0
Financial expenses 47 61 39
Total revenues 433,598 707,553 856,216
Total expenditures 404,033 614,480 654,104
Net profit 26,562 81,712 183,043
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Indicators
Source: FIA and APIF
2015 2016 2017
Participation rate of capital 0.90 0.72 0.90
Current ratio 5.78 2.21 3.72
Debt service 0.10 0.16 0.30
Credit exposure from operations 0.12 0.02 0.03
Current assets turnover 4.06 5.57 8.75
Operating margin 28,855.00 133,935.00 201,963.00
Net return on assets 0.14 0.41 0.67
Net return on equity 0.15 0.57 0.74
Net profit margin 0.06 0.12 0.21
Share of fixed assets in assets N/A N/A N/A
Share of current assets in assets 0.56 0.63 0.36
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Graphic analysis
Participation rate of liabilities
The participation rate of liabilities tells us the amount of assets financed by foreign capital. The higher theratio, the better the company uses foreign sources for its financing (current and non-current liabilities).As a rule, foreign financing is cheaper than financing from own resources.
Calculation ratios
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Liquidity ratio
The liquidity ratio tells us the the coverage of current liabilities by current assets. The higher the value ofthe ratio, the easier it is for the company to settle its current liabilities. Liquidity is the company’s ability tohave at its disposal, within a short period of time, adequate liquid assets for timely payment of dueliabilities.
Calculation ratios
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Assets turnover ratio
The ratio measures the share of total revenues in assets and tells us the amount of total revenuesgenerated by the company with the available assets. The higher the value of the ratio, the better theperformance of the company and the shorter its turnover. The shorter the turnover, the better theliquidity of the company and the smaller the probability that it would experience liquidity problems. Ashorter turnover means that assets require less time to be converted from non-liquid to liquid state.
Calculation ratios
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Methodology
The methodology for assessing creditworthiness rating is based on a combination of qualitative standardsand statistical model. The analysis includes subjects with at least two employees, total revenues of at least100.000 BAM and a positive equity. Statistical model estimates the probability of negative event (bankaccount blockage, insolvency or cancelation) of the entity in the next year and a basis for assessing thecreditworthiness rating. Final rating takes into account additional qualitative standards that are set foreach rating level of creditworthiness.
The statistics of entity blockades in relation to a specific financial ratio represent a basis for preparing astatistical model.
Assets turnover ratio
Sh
are
of
po
pu
lati
on
(in
%)
Assets turnover ratio
BlockedShare of population
to 0.35 to 0.81 to 1.33 to 2.23 over 2.230
10
20
30
40
50
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
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Liquidity ratio
Sh
are
of
po
pu
lati
on
(in
%)
Liquidity ratio
BlockedShare of population
N/A to 0.8 to 1.13 to 1.61 to 3 over 30
5
10
15
20
25
30
35
Profit margi
Sh
are
of
po
pu
lati
on
(in
%)
Profit margin
BlockedShare of population
to 0 to 0.01 to 0.03 to 0.08 over 0.080
10
20
30
40
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Statistics
Comparison of the distribution of subjects with a creditworthiness rating and the population of entitiesthat meet the criteria of at least two employees, at least 100.000 BAM revenue and positive equity.
Comparison of size distribution of income shows that the AAA credit rating is dominated by companieswith higher total revenues:
Distribution of the number of employees featured in the AAA creditworthiness rating is dominated byoperators with a large number of employees
Income amount in Millions BAM
Sh
are
of
po
pu
lati
on
(in
%)
Comparison of distribution based on the income amount
PopulationAAA
to 6 to 10 to 13 to 14 over 140
10
20
30
40
50
60
70
80
90
100
Number of employees
Sh
are
of
po
pu
lati
on
(in
%)
Distribution by number of employees
PopulationAAA
to 2 to 3 to 9 to 42 over 420
10
20
30
40
50
60
70
80
90
100
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
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Entities that have greater return on assets prevail in the AAA creditworthiness rating:
Funds profitability
Sh
are
of
po
pu
lati
on
(in
%)
Distribution by return on assets (ROA)
PopulationAAA
to 62037 to 192344 to 879269 to 5010302 over 9810254870
10
20
30
40
50
60
70
80
90
100
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
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About Bisnode
Bisnode is a leading European company that provides business information and conducts data analysis. Itoperates in 19 countries and is also a strategic partner of the largest global provider of businessinformation, Dun & Bradstreet.
Bisnode Southern Market includes the subsidiaries in the countries of the former Yugoslavia: Slovenia,Croatia, Serbia, Bosnia and Herzegovina, and Macedonia.
Bisnode helps companies improve their operations and management of relationships with clientsthroughout the entire life cycle by utilising smart data. This is achieved by combining our data, the dataof our clients, and the ubiquitous big data to create smart data.
© CREDITWORTHINESS RATING REPORT. All rights reserved. Web: www.bisnode.ba/aaa, tel: 00387 33 215454
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