CREDIT REPORT. Issued for: Published 3/12/2015

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Published 3/12/2015

Issued for:

(2)

Credit report

Published 3/12/2015

PROFILE

Chapter 1

Company: Address:

Activity: J 58.190 OTHER PUBLISHING ACTIVITIES Registration number:

VAT No.:

Company size: Medium

OWNERS AND BRANCHES

Chapter 2

Owners:

1

Branches:

0

Last year

BLOCKS

Current Number of Blocks: Blocks:

0

/ 4 bank accounts

0

/ 365 days

Period: 3/12/2014 - 3/12/2015

CREDIT APPRAISAL

Chapter 3

CREDIT LIMIT: 46,620 € CREDIT MARGIN: 0.50 %

SEMAPHORE

Green light - no critical events found in Bonitete.si

database, which could have effect on current company business.

PAYMENT INDEX

Chapter 4

January 2015

TRIALS

Chapter 5

Number of trials: 19 Prosecutes:

19

Prosecuted:

0

Period: 3/12/2014 - 3/12/2015

RESULTS OF OPERATIONS

Chapter 6

Categories 2011 2012 2013

Assets 7,002,415 8,221,550 10,722,276

Capital 5,541,284 7,254,161 8,041,596

Total revenues 6,373,084 6,866,763 6,996,637

Net business result for the accounting period 1,528,638 1,712,875 1,303,735

Average number of employees 55 61 65

Debt to assets 13 7 6

Current ratio 4 9 9

Net return on assets 25 23 14

*Source: Ajpes - database of annual reports Data are shown in 1 EUR.

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Profile

Published 3/12/2015

PROFILE

Long name: Legal form: J 58.190 OTHER PUBLISHING ACTIVITIES Activity: Founded: Registration number: Company size: Medium

EU Company Size: 50 to 99 employees

Company Register: Okrožno sodišče Ljubljana Region: OSREDNJESLOVENSKA

Capital: Foreign Capital

Sector: 11003 Foreign controlled non-financial corporations

VAT Payer: YES

Director

Procurator, sales director Procurator, finance director Procurator, development director

REPRESENTATIVES

Shown 4 of 4

Name

BANK ACCOUNTS

NOVA LJUBLJANSKA BANKA D.D. UNICREDIT BANKA SLOVENIJ... UNICREDIT BANKA SLOVENIJ... UNICREDIT BANKA SLOVENIJ...

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Owners and branches

Published 3/12/2015

Chapter 2

OWNERS

Shown 1 of 1

BRANCHES/DIVISIONS

Shown 0 of 0

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Credit appraisal

Published 3/12/2015

CREDIT APPRAISAL

HISTORY

2013

2014

FINANCIAL APPRAISAL

The company operates excellent and has a small probability of failure in the future. The company has no major liquidity problems and at the sam time achieve above-average profitability.

Liquidity

Well

Name Value Indicator Description

Debt to asset ratio 6.10 Excellent

Payment capability 8.98 Excellent

Cash flow to total costs 0.29 Excellent

Credit exposure from operations 0.44 Careful

Efficiency

Well

Name Value Indicator Description

Return on assets 0.15 Excellent

Assets turnover on total income 0.74 Average

DYNAMIC RATING

Company activity has a lower risk. Company location is less risky. Subject is active for up to 18 years and has one active bank account. There is no data on bank account block in the last two years or the last bank account block was more than 18 months ago. There were no new lawsuits in the last 12 months filed against the subject. Financial data indicates that the company has a low debt level, minor credit exposure from operations and a high current ratio.

Indicators

Name Value Indicator

Activity 4 Location 4 Profile 3 Trials 4 Blocks 5 Payment index 3 Financial data 5

CREDIT LIMIT

46,620 €

Recommended upper credit limit for granting a deferred payment period of 3 months for this company 46,620 €

CREDIT MARGIN

0.50 %

Recommended minimum credit margin for granting a deferred payment period of 3 months for this company 0.50 %

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Payment Index

Published 3/12/2015

Chapter 4

Payment index is calculated as weighted average of days between settlement date and value date. The weights are based on the amount of payments.

Payment index Description

81 - 100

Company anticipates.

80

Company pays promtly on due.

75 - 79

Company settles payments up to 7 days past due.

70 - 74

Company pays slow to 15 days past due.

50 - 69

40 - 49

31 - 39

20 - 30

0 - 19

Company pays over 120 days past due.

N/A

No Data

PAYMENT INDEX

Payment index for January 2015

Company anticipates.

82 NOTE

The database contains only those invoices that are accesible to database owner. Figures are based on all paid invoices from the database.

Payment Index Statistic

Company Activity

Min 75 74

Max 91 77

Average 84 76

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Trials

Published 3/12/2015

PROSECUTED

Shown 0 of 0

There are no data for selected subject.

PROSECUTED

Trials: 0

Total Amount: 0 EUR

PROSECUTES

Trials: 19

Total Amount: 11,789 EUR

PROSECUTES

Shown 14 of 19

Prosecute ID Party Amount District Court Last Proc.

285 Okrožno sodišče Ljubljana 3/9/2015

366 Okrožno sodišče Celje 3/2/2015

Okrožno sodišče Maribor 2/16/2015

282 Okrožno sodišče Slovenj_Gradec 1/23/2015

274 Okrožno sodišče Ptuj 12/17/2014

4,424 Okrožno sodišče Ljubljana 11/26/2014 245 Okrožno sodišče Ljubljana 11/24/2014 818 Okrožno sodišče Ljubljana 11/10/2014

270 Okrožno sodišče Maribor 10/9/2014

450 OKRAJNO sodišče Domžale 10/8/2014

285 Okrožno sodišče Novo mesto 10/2/2014

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Financial data

Published 3/12/2015

Chapter 6

BALANCE SHEET - CHART

PROFIT AND LOSS ACCOUNT - CHART

Assets 2013

Long-term 44.67 % Short-term

54.74 %

Short-term deferred costs 0.59 % Liabilities 2013 Capital 75.00 % Provisions 0.99 % Fin. & business 6.10 %

Short-term accrued costs 17.91 % Revenus 2013 Net sales 94.34 % Financial 0.44 % Other 5.22 % Expenses 2013 Cost of services 41.79 % Labour cost 51.64 % Financial 0.03 % Other 6.54 %

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Financial data

Published 3/12/2015

BALANCE SHEET

*Source: Ajpes - database of annual reports Data are shown in 1 EUR

Categories 2011 2012 2013 Growth Abs. (Rel.)

7,002,415 8,221,550 10,722,276 2,500,726 (30%) 3,035,207 3,093,817 4,790,033 1,696,216 (55%) 92,220 95,589 1,705,049 1,609,460 (1,684%) 118,422 114,495 218,394 103,899 (91%) 2,802,132 2,848,383 2,822,493 -25,890 (-1%) 0 0 0 0 22,433 35,350 44,097 8,747 (25%) 3,961,820 5,064,496 5,869,318 804,822 (16%) 0 0 0 0 1,035 84 84 0 (0%) 0 0 125,919 125,919 1,801,355 2,141,271 3,054,921 913,650 (43%) 2,159,430 2,923,141 2,688,394 -234,747 (-8%) 5,388 63,237 62,925 -312 (0%) 0 0 0 0 7,002,415 8,221,550 10,722,276 2,500,726 (30%) 5,541,284 7,254,161 8,041,596 787,435 (11%) 64,580 61,509 106,124 44,615 (73%) 922,883 541,382 653,939 112,557 (21%) 0 776 0 -776 (-100%) 0 0 0 0 0 776 0 -776 (-100%) 0 0 0 0 922,883 540,606 653,939 113,333 (21%) 3,588 0 0 0 919,295 540,606 653,939 113,333 (21%) 0 0 0 0 473,668 364,498 1,920,617 1,556,119 (427%) 0 0 0 0 Assets Long-term assets

Intangible assets and long-term ... Tangible fixed assets

Long-term financial investments ... Long-term operating receivables Deferred receivables for taxes Short-term assets

Assets (group for estrange) for ... Inventories

Short-term financial investments Short-term operating receivables Cash assets

Short-term deferred costs and ac... Off-balance sheet items

Liabilities Capital

Provisions and long-term accrued... Financial and business liabilities

Long-term liabilities

Long-term financial liabilities Long-term operating liabilities Deferred liabilities for taxes Short-term liabilities

Short-term financial liabilities Short-term operating liabilities Liabilities, included in groups ... Short-term accrued costs and def... Off-balance sheet items

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Financial data

Published 3/12/2015

Chapter 6

PROFIT AND LOSS ACCOUNT

*Source: Ajpes - database of annual reports Data are shown in 1 EUR

5,625,142 5,919,544 6,600,351 680,807 (12%) 0 0 0 0 0 0 0 0 701,237 879,137 365,113 -514,024 (-58%) 6,326,379 6,798,681 6,965,464 166,783 (2%) 2,017,164 2,011,207 2,310,168 298,961 (15%) 2,213,384 2,514,024 2,854,998 340,974 (14%) 100,712 195,477 320,248 124,771 (64%) 80,598 75,308 107,734 32,426 (43%) 114 89 7,514 7,425 (8,343%) 20,000 120,080 205,000 84,920 (71%) 129,933 31,081 40,551 9,470 (30%) 6,326,379 6,798,681 6,965,464 166,783 (2%) 4,461,193 4,751,789 5,525,965 774,176 (16%) 1,865,186 2,046,892 1,439,499 -607,393 (-30%) 1,865,186 2,046,892 1,439,499 -607,393 (-30%) 46,695 57,687 30,962 -26,725 (-46%) 3,418 10,098 1,843 -8,255 (-82%) 0 0 0 0 3,418 10,098 1,843 -8,255 (-82%) 3,272 9,961 1,810 -8,151 (-82%) 146 137 33 -104 (-76%) 10 10,395 211 -10,184 (-98%) 2,917 3,231 477 -2,754 (-85%) 6,373,084 6,866,763 6,996,637 129,874 (2%) 4,467,528 4,765,118 5,528,285 763,167 (16%) 1,905,556 2,101,645 1,468,352 -633,293 (-30%) 379,419 401,686 155,689 -245,997 (-61%) 1,528,638 1,712,875 1,303,735 -409,140 (-24%) 1,965,898 2,242,369 1,759,747 -482,622 (-22%) Net sales

Changes in the value of inventor... Capitalised own products and own... Other operating revenues (with s... Gross operating yield

Cost of goods, material and serv... Labour cost

Write-offs Depreciation

Revaluation operating expenses f... Revaluation operating expenses f... Other operating expenses

Operating revenues Operating expenses Operating result EBIT Financial income Financial expenses

Financial expenses from deprecia... Financial expenses for interests... Financial expenses from financia... Financial expenses from operatin... Other revenues

Other expenses Total revenues Total costs

Total business result Tax on profit

Net business result for the acco... EBITDA

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Financial data

Published 3/12/2015

INDICATORS

55 61 65 4 (7%) 1.69 1.39 2.04 0.64 (46%) 56.50 60.83 52.98 -7.85 (-13%) 40.01 34.65 27.50 -7.15 (-21%) 79.13 88.23 75.00 -13.23 (-15%) 13.18 6.58 6.10 -0.49 (-7%) 182.57 234.47 167.88 -66.59 (-28%) 16.65 7.46 8.13 0.67 (9%) 4.29 9.37 8.98 -0.39 (-4%) 4.29 9.37 8.98 -0.39 (-4%) 0.36 0.40 0.29 -0.11 (-27%) 0.28 0.31 0.44 0.12 (39%) 44.62 50.83 39.65 -11.17 (-22%) 0.92 0.78 0.70 -0.08 (-10%) 1.55 1.01 0.96 -0.05 (-5%) 8,426.05 8,143.54 61,972.82 53,829.28 (661%) 4.37 3.45 2.68 -0.77 (-22%) 1.05 0.90 0.74 -0.16 (-18%) 0.04 0.04 0.01 -0.04 (-87%) 83.46 105.83 136.14 30.31 (29%) 61.79 58.48 41.88 -16.60 (-28%) 1.43 1.44 1.27 -0.18 (-12%) 1.42 1.43 1.26 -0.17 (-12%) 23.99 24.94 18.63 -6.31 (-25%) 1.05 0.90 0.74 -0.16 (-18%) 25.09 22.50 13.76 -8.74 (-39%) 32.00 26.77 17.05 -9.73 (-36%) 29.48 30.11 20.67 -9.44 (-31%) 30.12 30.91 21.08 -9.83 (-32%) 27.18 28.94 19.75 -9.18 (-32%) 75,986.95 77,973.66 70,996.08 -6,977.58 (-9%) 0.31 0.27 0.15 -0.12 (-44%)

Average number of employees THE ASSET STRUCTURE RATIOS

Tangible and intangible assets ... Current assets to total assets Investments to total assets FINANCIAL LEVERAGE RATIOS

Shareholders' funds to assets Debt to assets

Shareholders' funds to long-ter... Financial leverage

LIQUIDITY RATIOS Current ratio Quick ratio

Cash flow to total costs

Credit exposure from operations ASSET TURNOVER RATIOS

Fixed assets turnover ratio Total assets turnover ratio Current assets turnover Inventory turnover 1 Debtors turnover

Asset turnover on total income ASSET TURNOVER RATIOS (DAYS)

Inventory coversion period 1 Days sales outstanding Payables deferral period

RATIOS OF EFFICIENCY, PROFITABI... Total revenues to total expenses Operating revenues to operating... Net profit margin

Asset utilization ratio Net return on assets Return on equity Operating margin Pre-tax profit margin Net profit margin on sales Value added per employee Operating return on assets CASH-FLOW