BUSINESS RATING REPORT

ABC LLC D-U-N-S: 12-345-6789

Report Validity Pages Date

30 June 2013 24 7 January 2013

Dun & Bradstreet South Asia Middle East Ltd. Dubai International Financial Centre Gate Precinct 5, Level 5, Office 502 P.O. Box 506511, Dubai United Arab Emirates. Tel: +971 4 3695700 Fax: +971 4 3637104 Email: mail@dnbsame.com www.dnbsame.com
THIS REPORT MAY NOT BE REPRODUCED IN WHOLE OR IN PART IN A NY FORM OF MANNER WHATSOEVER. This report, furnished pursuant to contact for the exclusive use of the subscriber as one factor to consider in connection with credit, insurance, marketing or other business decisions, contains information compiled from sources which Dun & Bradstreet does not control and whose information, unless otherwise indicated in the report, has not be verified. Dun & Bradstreet in no way assumes any part of the users business risk, does not guarantee the accuracy, completeness, or time liness of the information provided, and shall not be liable for any loss or injury whatever resulting from contingencies beyond its control or from negligence.

Business Rating Report ABC LLC

7 January 2013

DISCLAIMER: This material is confidential and proprietary to Dun & Bradstreet and ABC LLC (hereinafter referred to as Company or Subject) and may not be copied or otherwise reproduced, repackaged, further transmitted, transferred, disseminated, redistributed or resold, or stored for subsequent use for any such purpose, in whole or in part, in any form or any manner or by any means whatsoever, by any person without express authorization of Dun & Bradstreet South Asia Middle East Limited (hereinafter referred to as D&B) or the General Counsel of Dun & Bradstreet. All information contained herein is obtained by D&B from sources believed by it to be accurate and reliable. Although reasonable care has been taken to ensure that the information herein is true, such information is provided as is without any warranty of any kind and D&B, in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness or completeness of any such information. All information contained herein must be construed solely as statements of opinion and D&B shall not be liable for any loss incurred by users from any use of this report or its contents. D&B's information and opinion should not be the only criterion when making business decisions on subject of report. Data in this report should be considered as an additional factor together with others in order to reach a decision. In the course of its work/survey, D&B may have received information from the Subject Company being rated or graded, besides the fact that the report may also contain data/information available in the Public Domain or that made available through Secondary Sources. Date: 7 January 2013

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Scope of the Report History and legal background of the Subject Understanding Current Operations Management background Bankers Information Financial Statement & Analysis Industry Overview D&B Rating

Information Sources Information given in this report is compiled using the following sources: Annual reports Corporate communiqus Information from website Management Discussion Media Articles

Methodology Financial Information from the audited annual reports of the company was studied and analyzed. Required clarifications were sought from the concerned company officials, wherever necessary. Other value added information was obtained from the relevant publicly available sources. Inputs about the Company were provided by Vijay Kumar, Director of the Company.

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TABLE OF CONTENTS
COMPANY DETAILS ......................................................................................................................... 5 D&B RISK ASSESSMENT ................................................................................................................. 5 EXECUTIVE SUMMARY .................................................................................................................... 7 OPERATIONS SYNOPSIS ................................................................................................................. 8 FINANCIAL STATEMENTS ........................................................................................................... 10

COMPARATIVE FINANCIALS................................................................................................. 10 STATEMENT OF COMPREHENSIVE INCOME ........................................................................ 11 STATEMENT OF FINANCIAL POSITION ................................................................................. 12 STATEMENT OF CASH FLOWS.............................................................................................. 14
KEY RATIOS ....................................................................................................................................... 15 BANKERS ............................................................................................................................................ 16 DIRECTOR AND EXECUTIVE DETAILS .................................................................................... 17 PURCHASE & SALES DETAILS .................................................................................................... 18 MAJOR CUSTOMERS AND SUPPLIERS .................................................................................... 19 OTHER OPERATIONAL DETAILS ............................................................................................... 20

EMPLOYEE STRENGTH ......................................................................................................... 20 LOCATION ............................................................................................................................ 20 PREVIOUS ADDRESSES ......................................................................................................... 20

GROUP ENTITIES ............................................................................................................................. 21

RELATED ENTITIES DETAILS ................................................................................................. 21 AFFILIATE DETAILS ............................................................................................................... 21

The D&B Rating ................................................................................................................................. 22 Financial Ratios Glossary.................................................................................................................. 23 Confidentiality .................................................................................................................................... 24

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Business Rating Report ABC LLC

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ABC LLC D&B D-U-N-S: 12-345-6789 COMPANY DETAILS TRADE STYLE ADDRESS : : ABC P O Box 232323 Industrial Area No. 10 Dubai, UAE Vijay Kumar (971) (4) (5440366) (971) (4) (5440388) www.abc.com info@abc.com Clear 421 Local AED 123,456,789 AED 100,059,612 as on December 31st, 2011

CHIEF EXECUTIVE TELEPHONE FAX WEBPAGE EMAIL HISTORY EMPLOYEES (Total) SALES TERRITORY SALES NET WORTH (Tangible) D&B RISK ASSESSMENT D&B RATING Financial Strength Risk Indicator Risk Indicator

: : : : : : : : : :

4A3 4A Based on tangible net worth 3 Fair 1 2 3 4 The Dun & Bradstreet rating of 2A3 Indicates: A financial strength between USD 25 60 million (based on Net Worth) and a Risk indicator which is Fair

D&B's Rating consists of 2 parts, the Financial Strength and the Composite Appraisal/Condition. Financial Strength is an indication of the Tangible Net Worth (that is, the shareholder's funds less any intangible assets). The Composite Appraisal/Condition is linked to the level of risk and is an overall evaluation of credit worthiness. It takes into account the financial condition and several factors such as trade reference history, legal structure, management experience and any adverse listings.

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RATING HISTORY FINANCIAL YEAR 2010 2009 REGISTRATION DETAILS TRADE LICENSE NO LEGAL STRUCTURE REGISTERED START DATE REGISTRATION BODY REGISTERED OFFICE : : : : 12345 Limited Liability Company 2 Feb 2011 1984 D&B RATING 3A2 2A3

: Dubai Economic Department : P O Box 232323 Industrial Area No. 10 Dubai, UAE : 5199 - 9914 LOB manufacturer of interior fit-outs and

SIC fabrication CAPITAL DETAILS AUTHORIZED CAPITAL ISSUED CAPITAL PAID-UP CAPITAL ORDINARY SHARES SHAREHOLDING PATTERN SR. No 1 2 3 Total Current Investigation Name of the Shareholder Ibrahim Ismail Mohamed Vijay Kumar Jose George : : : :

AED 500,000 as on December 31st, 2011 AED 500,000 as on December 31st, 2011 AED 500,000 as on December 31st, 2011 400 shares at par value AED 1,250 each

Shareholding Pattern (in %) 51.00 24.50 24.50 100.00

On, June 4th, 2012 Vijay Kumar, Director, provided the relevant information.

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EXECUTIVE SUMMARY ABC LLC was established in the year 2000, as a manufacturer of interior fit-outs and fabrication needs. The Company has an ability to innovate and automate production activities. The Companys fabrication and fit-out expertise and quality are showcased in some of the most coveted and prestigious internal fabrication projects in Abu Dhabi, the Gulf Cooperation Council (GCC) countries and around the world. The following are the current projects of the Company: UAE PROJECTS Abu Dhabi National Exhibition Centre Ajman City Centre Barclays Bank City Gate, Deira City Centre Deira City Centre Denco Mission The mission of the Company is to understand the true essence of an architectural project and convert it into reality on budget and on time, in the most inspiring fashion.

Vision The vision of the Company is to be the most preferred, trusted and recommended fabrication and fit-out partner in the market for translating design intent into immaculate reality.

Future Plans To become a market leader

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OPERATIONS SYNOPSIS

ABC LLC is a manufacturer of interior fit-outs and fabrication needs. The Company has a team of 300 professionals and provides the following services: Hand Railing & Balustrade Cladding Spiral Staircases Architectural Features Glass Bridges Bolted Glazing & Partitions Skylight & Sloped Glazing

The workflow of the Company is divided into 10 parts: Tender and Commercial Operations: The Company furnishes its clients with all the information they might need to assess the Companys suitability for the projects. Contracts: The Companys Contracts division takes up the charge once it wins a bid and puts together a client requirement brief. Design & Value Engineering: The Company has a dedicated team of in-house designers who visualize how an architectural blueprint will be transformed into a real, 3-dimensional structure. Planning & Project Management: The Company believes in planning with foresight, factoring in all the possible outcomes. The deep and diverse knowledge of its project managers ensures that the project moves along rapidly as per the detailed and descriptive plans. Procurement: The quality of the final product is dependent on the quality of the raw material. The Company makes no compromises on the quality of glass or metal that it uses for fabrication and fit-outs. Production: The Companys production division includes more than 220 people, who work with full dedication for the projects. Stores & Inventory Control: The Company has a division dedicated to monitoring and managing inventory. Based on the planning done for the project, this division ensures that all the materials needed for any phase of a project are well stocked and immediately available as and when required. Logistics & Dispatch: Once all the required components of a project have been designed and fabricated, the Companys Logistics Division works out the most efficient way to organize the delivery of the material to the client's site.

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Site Installation: The Companys Installation Division is well equipped with a diverse skill set to put in place every section of the fabricated product from automatic doors to spiral staircases, from glass bridges and skylights to intricate architectural features. Support Functions: In addition to the above processes and division, the Company has dedicated departments for HR, Administration, Finance and Accounts. Quality Assurance and Quality Control is carried out at all stages from planning, design and production to delivery and installation.

Thus, because of the efficient workflow of the Company, it has been successful in undertaking various national as well as overseas projects such as Abu Dhabi National Exhibition Centre, Barclays Bank, Deira City Centre, Emirates Airline, First Gulf Bank, Jumeirah Beach Hotel, Neopharma, Reef Mall, Al Corniche Hotel, Bahrain National Holding, Formula-1, Qatar Islamic Bank and so forth. SIC CODES 5192-1111 Interior design and dcor 5193-2222 Fabrication services

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FINANCIAL STATEMENTS COMPARATIVE FINANCIALS

COMPARATIVE FINANCIALS (IN AED) 2009 Current: Assets Liabilities Working Capital Other Tangible Assets Non Current Liabilities Tangible Net Worth Annual Sales Profit After Tax Inventory Cash & Bank Trade Receivables* Fixed Assets Trade Payables 2010 2011

96,312,186 33,426,669 62,885,517 3,573,492 1,478,066 64,980,943 121,493,388 11,771,340 3,340,626 19,222,632 47,697,943 3,573,492 16,113,795

107,298,359 29,768,302 77,530,057 2,481,986 1,923,351 78,088,692 54,366,967 8,488,820 2,772,973 10,127,852 58,552,956 2,481,986 8,190,552

134,163,688 40,702,790 93,460,898 9,755,894 3,157,180 100,059,612 107,147,663 13,742,756 4,391,493 9,636,642 71,335,826 9,755,894 15,866,198

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STATEMENT OF COMPREHENSIVE INCOME

PROFIT & LOSS ACCOUNT (IN AED) FOR THE PERIOD ENDED No. of Months Revenues Total Operating Income Materials consumed Employee Costs Depreciation Direct Expenses Total Direct Expenditure Gross Profit (Loss) Bank Charges Salaries & Allowances Communication Recruitment and Visa Charges Management Fees Advertisement and Sales Promotion Travelling Repairs & Maintenance Operating Lease Charges Other Expenses Office Expenses & Website Development Legal and Professional Charges Insurance Allowance for Impairment of Receivables Bad Debts Written Off Profit Before Interest & Depreciation Depreciation Operating Profit After Depreciation Profit on Sale of Assets Scrap Sales Interest Income Foreign Currency Exchange Gain Remission of Liabilities Miscellaneous Income Earnings Before Interest & Tax Less : Interest on Loan Earnings Before Tax Profit After Tax Tax and Extraordinary Net Profit After Items Less: Dividends Plus / (Minus) Retained Earnings / (Loss) B/F Retained Earnings (Loss) C/F

31-Dec-09 12 121,493,388 121,493,388 (20,863,438) (9,369,105) (681,521) (47,712,640) (78,626,704) 42,866,684 (673,877) (7,308,456) (358,084) (135,700) (12,149,338) (149,599) (781,238) (333,676) (567,147) (50,090) (88,175) (721,043) (850,823) (6,505,907) (205,769) 11,987,762 (702,070) 11,285,692 6,272 327,400 177,173 11,796,537 (25,197) 11,771,340 11,771,340 11,771,340 (45,982,807) 45,982,805 11,771,338

31-Dec-10 12 54,366,967 54,366,967 (8,648,221) (6,696,566) (829,600) (12,571,176) (28,745,563) 25,621,404 (429,027) (6,069,318) (350,007) (325,884) (5,436,697) (26,380) (929,853) (344,489) (519,232) (99,625) (181,733) (728,257) (581,002) (4,105,478) (662,897) 4,831,525 (678,181) 4,153,344 22,329 271,750 160,525 3,847,927.00 64,343 8,520,218 (31,398) 8,488,820 8,488,820 8,488,820 11,771,338 20,260,158

31-Dec-11 12 107,147,663 107,147,663 (43,296,716) (10,274,340) (1,572,668) (10,398,856) (65,542,580) 41,605,083 (1,426,636) (7,129,063) (493,156) (607,880) (10,714,766) (32,090) (420,994) (1,121,571) (1,062,695) (111,817) (31,177) (1,199,859) (517,123) (3,496,579) (2,400,720) 10,838,957 (848,216) 9,990,741 643,193 910,639 1,948,367 572,034 14,064,974 (322,218) 13,742,756 13,742,756 13,742,756 20,260,158 34,002,914

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STATEMENT OF FINANCIAL POSITION

LIABILITIES AND EQUITY (IN AED) AS ON Share Capital Statutory Reserve Shareholders' Current Account Shareholders' Loan Accumulated Earnings Total Equity Non Current Liabilities Medium Term Loans Provisions for Employees' End of Service Benefits Total Non-Current Liabilities Current Liabilities Trade Payables Other Payables Advance From Customers Medium Term Loan Term Loans Trust Receipts Accruals for Employees' Benefits Accrued Expenses Due to Related Parties Total Current Liabilities TOTAL LIABILITIES & EQUITY 31-Dec-09 500,000 250,000 7,459,605 45,000,000 11,771,338 64,980,943 31-Dec-10 500,000 250,000 12,078,534 45,000,000 20,260,158 78,088,692 31-Dec-11 500,000 250,000 20,306,698 45,000,000 34,002,914 100,059,612

1,478,066 1,478,066

1,923,351 1,923,351

1,007,398 2,149,782 3,157,180

16,113,795 407,477 77,600 146,542 387,480 840,460 8,251,004 7,202,311 33,426,669 99,885,678

8,190,552 635,570 36,871 1,073,700 671,895 4,041,832 15,117,882 29,768,302 109,780,345

15,866,198 3,162,142 575,656 60,182 3,382,188 937,345 2,116,712 14,602,367 40,702,790 143,919,582

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ASSETS (IN AED) AS ON Fixed Assets Leasehold Improvements Equipment and Tools Motor Vehicle Furniture and Fixtures Other Assets Total Fixed Assets Current Assets Cash & Cash Equivalents Cash & Bank Inventories Due From Related Parties Trade Receivables Retention Receivables Refundable Deposits Prepayments Advance to Suppliers Advance to Employees Other Receivables Other Current Financial Assets Total Current Assets TOTAL ASSETS

31-Dec-09

31-Dec-10

31-Dec-11

212,888 2,182,517 966,817 211,196 74 3,573,492 30,666 19,191,966 3,340,626 168,299 47,697,943 22,652,587 977,146 660,469 295,282 465,540 1,595 830,067 96,312,186 99,885,678

76,086 1,637,363 650,935 117,580 22 2,481,986 44,022 10,083,830 2,772,973 6,193,525 58,552,956 25,307,025 1,065,961 549,418 1,191,157 789,613 30,815 717,064 107,298,359 109,780,345

1,861,792 7,313,925 416,314 163,863 9,755,894 64,099 9,572,543 4,391,493 9,641,901 71,335,826 29,926,366 1,233,452 761,041 2,037,903 687,762 7,209 4,504,093 134,163,688 143,919,582

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STATEMENT OF CASH FLOWS

Cash Flow Statement (In AED) for the Year Ended Months Net Profit Before Tax & Extraordinary Items Adjustments for: Depreciation Finance Costs (Profit) on Disposal of Property, Plant and Equipment Interest Income Provision for Employees Benefits Operating Profit Before Working Capital Changes Adjustments for: Decrease/ (Increase) in Inventory (Increase) in Trade and Other Receivables (Decrease)/ Increase in Trade and Other Payables Employees End of Service Benefits Paid (Increase) in Dues From Related Parties Increase in Dues to Related Parties Finance Cost Paid Cash Generated From Operations Net Cash From Operating Activities (A) CASH FLOW FROM INVESTING ACTIVITIES Purchase of Property, Plant and Equipment (Increase)/Decrease in Other Current Financial Assets Interest Received Funds Introduced during the year Net Cash Used in Investing Activities (B) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Bank Borrowings Dividend Declared (Payment of ) Receipts of Short Term Loan from Individuals Movement in Shareholders Current Account Net Cash From Financing Activities(C) Net Increase in Cash & Cash Equivalents (A+B+C+D) Cash & Cash Equivalents (Opening Balance) Cash & Cash Equivalents (Closing Balance) (1,313,594) (45,982,807) 10,175,040 (37,121,361) 13,810,456 5,412,176 19,222,632 576,549 4,618,929 5,195,478 (9,094,780) 19,222,632 10,127,852 3,914,853 8,228,164 12,143,017 (491,210) 10,127,852 9,636,642 31-Dec-09 12 11,771,340 31-Dec-10 12 8,488,820 31-Dec-11 12 13,742,756

1,383,591 25,197 (6,272) 309,068 13,482,924 (106,293) (15,328,375) 4,244,406 (168,299) 3,643,780 (25,197) 5,742,946 5,742,946

1,507,781 31,398 (22,329) (160,525) 613,035 10,458,180 567,653 (14,736,383) (12,150,487) (167,750) (6,025,226) 7,915,571 (31,398) (14,169,840) (14,169,840)

2,420,884 322,218 398,253 16,884,111 (1,618,520) (18,502,614) 8,542,548 (171,822) (3,448,376) (515,515) (322,218) 847,594 847,594

(2,591,003) 2,768,374 45,000,000 45,188,871

(425,946) 113,003 160,525 (120,418)

(9,694,792) (3,787,029) (13,481,821)

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KEY RATIOS
KEY RATIOS GROWTH RATIOS Revenue Growth (%) Net Profit Growth (%) PROFITABILITY RATIOS Gross Profit Margin (%) Operating Profit Margin (%) Net profit Margin (%) Return on Equity (%) Return on Capital Employed (%) Return On Fixed Assets ( %) Return on Total Assets (%) LIQUIDITY RATIOS Quick Ratio (Times) Current Ratio (Times) SOLVENCY RATIOS Long Term Debt Equity Ratio (Times) Total Debt to Equity Ratio (Times) EFFICIENCY RATIOS Interest Coverage Ratio (Times) Collection Period (Days) Payment Period (Days) Inventory (Days) Operating Cash flow margin 2009 2010 2011

(55.25) (27.89)

97.08 61.89

35.28 9.29 9.69 18.12 15.90 329.41 11.78

47.13 7.64 15.61 10.87 8.85 342.02 7.73

38.83 9.32 12.83 13.73 11.54 140.87 9.55

2.76 2.88

3.49 3.60

3.17 3.30

0.02 0.54

0.02 0.41

0.03 0.44

468.17 143 282 16 4.73%

271.36 393 346 35 (26.06%)

43.65 243 134 24 0.79%

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BANKERS Banking relations are maintained principally with:NAME BRANCH ADDRESS IBAN TYPE OF FACILITIES TELEPHONE EMIRATES NBD BANK Dubai Branch P O Box 44470, Dubai Industrial Area No. 10, Dubai, UAE 0100011001100 General & Project Facilities (971) (4) (50723261)

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DIRECTOR AND EXECUTIVE DETAILS Name Passport No Nationality Year of Birth Current Title Qualification Active in Daily Operation Email Employment History Name of The Company Position Held Period Name of the Company Position Held Period Other Directorship Name of The Companies KEY EMPLOYEES Name Nagarjan Ayeer Alfredo Joseph Sevlacoumar Giju Thomas Designation Senior Project Manager Technical Manager Corporate IT Manager Procurement Manager Educational Qualification Engineer Engineer MCA BE Graduate Joined the Company Since 11 years Since 6 years Since 1 year Since 12 years Landmarks Lions LLC, Muscat Arabian Landmark, KSA GPM, Dubai Manager 5 years Arrmetals Manager 5 years Vijay Kumar Z 2380355111 Indian 1965 Director Chemical Engineer Yes kumar@abc.com

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PURCHASE & SALES DETAILS PURCHASES LOCAL INTERNATIONAL IMPORTS FROM Sweden Taiwan Italy Germany PURCHASING TERMS LOCAL PURCHASE TERMS Credit Letter of Credit IMPORT PURCHASE TERMS Letter of Credit : : 90 days 90 days : : 40% 60%

Imports
8% 17% 67% 8% Sweden Taiwan Italy

: : : :

67% 17% 8% 8%

Germany

0 days

SALES

LOCAL INTERNATIONAL EXPORTS TO Qatar Oman SELLING TERMS LOCAL CREDIT TERMS Credit Letter of Credit IMPORT CREDIT TERMS Credit Letter of Credit

: :

10% 90%

Exports

: :

56% 44%

44% 56% Qatar Muscat

: :

90 days 90 days

: :

30-45 days 30-45 days

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MAJOR CUSTOMERS AND SUPPLIERS CUSTOMERS DETAILS Sr. No. 1 2 3 4 5 Name of the Customer Al Furjan Carillion LLC Al Furjan Carillion LLC Al Tayyar Stocks LLC Al Tayyar Stocks LLC Al Tayyar Stocks LLC Country UAE UAE UAE UAE UAE % share in Total Sales 0.01 2.68 10.51 0.44 0.66

SUPPLIER DETAILS Name of the Supplier Outokumpu Glass Industries Hidda Trading Trump International Total Country Sweden UAE UAE UAE % share in Total Purchases 40 10 30 20 100

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OTHER OPERATIONAL DETAILS EMPLOYEE STRENGTH Staff is shared with related companies EMPLOYEE(s) - CURRENT Total Employees 08/Aug/2012 LOCATION Particulars Registered Office Location P O Box 232323, Industrial Area No.10, Dubai, UAE Straight Line IND, P O Box 0023270, Dubai, UAE Einstein Design Joinery & Interior Avons Contracting Qatar Operated As Rented/ Owned/ Leased Leased Area (In Sq Mts.) 35,000 Sq. Ft : 421 as at EMPLOYEE(s) - PREVIOUS Total Employees : 410

Factory

Branches

Branch Office

Rented

100 Sq. Ft 15,000 Sq. Ft 300 Sq. Ft

Divisions Divisions

Factory Office

Leased Leased

PREVIOUS ADDRESSES FORMER MAILING ADDRESS P.O. Box 1243 Bur Dubai, Dubai, UAE Date Changed 1/Jan/2001

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GROUP ENTITIES RELATED ENTITIES DETAILS Name Einstein Design Avons Trading Landmarks Lions LLC Arabian Land Mark Location Dubai Qatar Muscat Saudi Arabia % of Shareholding 49 49 70 Line of Business Joinery Joinery Metal, Glass and Joinery Under Formation Start Date 14th May 2005 3rd October 2010 th 6 September 2010

AFFILIATE DETAILS Name Einstein Design Location Dubai % of Shareholding 49

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The D&B Rating D&B Rating - The D&B rating consists of two parts, the Financial Strength Indicator and the Risk Indicator. For example: in the case of a 2A4 rating, 2A means the financial strength of the business and the 4 is the risk indicator. The Risk Indicator is used in conjunction with the Financial Strength Indicator. The Risk Indicator reflects D&B's opinion of the risk associated with trading with a specific business, notably the likelihood of business continuance or failure over the next 12 months. Created from expert rules systems, the Risk Indicator is refreshed whenever data is loaded onto our databases. The Financial Strength Indicator is based on either the Net Worth or Issued Capital. The table below contains the possible values. Net worth / Issued Capital (in USD) 0 15,000 15,000 35,000 35,000 60,000 60,000 120,000 120,000 - 175,000 175,000 345,000 345,000 600,000 600,000 1.2 million 1.2 million 2.5 million 2.5 million 12 million 12 million 25 million 25 million 60 million 60 million and above Rating based on Net worth (in USD) H G F E D C B A 1A 2A 3A 4A 5A Rating based on Issued capital (in USD) HH GG FF EE DD CC BB AA 1AA 2AA 3AA 4AA 5AA

Risk Indicator 1 2 3 4 -

Condition Excellent Good Fair Poor Insufficient information to assign a risk indicator

Guide to Interpretation Proceed with transaction offer terms required Proceed with transaction Proceed with transaction but monitor Take suitable assurances before extending credit No public information or D&B proprietary information available to indicate trading activity

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Financial Ratios Glossary Key Business Ratios are used to identify irregularities in the status and future potential of a company. Name Gross Profit Margin (%) Operating Profit Margin (%) Formula Gross Profit/Revenue Explanation Gross profit margin measures how much of every dollar of revenue is left over after paying cost of goods sold (COGS). The ratio measures the overall operating efficiency. It incorporates all the operating expenses incurred due to the business activity. The ratio states the amount of net income after all expenses are settled generated by the company in relative to a dollar of sale. The ratio measures the return generated on per dollar invested by the equity holders The ratio indicates the profitability and efficiency of a company's capital investments. The ratio indicates the return generated per dollar of fixed assets The ratio indicates the return generated per dollar of total assets The ratio measures the ability to settle short-term obligations if they fall due. The ratio measures the ability to settle short term obligations if they fall due with their most liquid assets The ratio measures the extent the net worth of the entity can offset the long term obligations The ratio measures the extent the net worth of the entity can offset the long and short term obligations The ratio measures the financial leverage of the entity and indicates the proportion of equity and debt used to finance its assets The ratio measures the entity's ability to cover its interest obligations The ratio measures the number of days it takes to recover sales proceeds The ratio measures the number of days it takes to make payments for the purchases The ratio measures the number of days the inventory is stored before it is sold The ratio indicates how efficiently the company converts its sales to cash.

EBITDA/Revenue

Net profit Margin (%) Return on Equity (%) Return on Capital Employed (%) Return On Fixed Assets (%) Return on Total Assets (%) Current Ratio (Times) Quick Ratio (Times) Long Term Debt Equity Ratio (Times) Total Debt to Equity Ratio (Times) Net Debt to Equity (Times) or Net Gearing Interest Coverage Ratio (Times) Collection Period (Days) Payment Period (Days) Inventory Days Operating Cash flow margin

Net profit before extraordinary items/Revenue Net profit before extraordinary items/Total equity EBIT/Capital Employed Net profit before extraordinary items/Fixed Assets Net profit before extraordinary items/Total Assets Current Assets/Current Liabilities (Current Assets-InventoryPrepayments)/Current Liabilities Total Non-Current Liabilities/Equity Total Liabilities/Equity (Total Liabilities- Cash & Cash Equivalents)/Equity EBIT/Interest (Receivables/Revenue)*365 (Payables/Cost of Sales)*365 (Inventory/Cost of Sales)*365 Net Cash from operations/Sales

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Confidentiality CURRENCY: All amounts in this report are in local currency unless otherwise stated.

This report is forwarded to the Subscriber in strict confidence for the use by the Subscriber as one factor to consider in connection with credit and other business decisions. This report contains information compiled from information which Dun & Bradstreet does not control and which has not been verified unless otherwise indicated in this report. Dun & Bradstreet therefore cannot accept responsibility for the accuracy, completeness or timeliness of the report. Dun & Bradstreet disclaims all liability for any loss or damage arising out of or in any way related to the contents of this report. This material is confidential and proprietary to Dun & Bradstreet and/or third parties and may not be reproduced, published or disclosed to others without the express authorization of Dun & Bradstreet or the General Counsel of Dun & Bradstreet. COPYRIGHT 2012 DUN & BRADSTREET. THIS REPORT MAY NOT BE REPRODUCED IN WHOLE OR IN PART IN ANY FORM OR MANNER WHATSOEVER. -- End of Report

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