MIRA
INFORM REPORT
|
Report Date : |
13th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
CLIVET
S.P.A. |
|
|
|
|
Registered Office : |
Zona
Industriale Via
Camp Lonc - Fr. Villapaiera, 25
32032
– Feltre (BL) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31/12/2005 |
|
|
|
|
Date of Incorporation : |
01/03/1988 |
|
|
|
|
Legal Form : |
Joint
stock company |
|
|
|
|
Line of Business : |
Engaged
in the business of installation and/or assembly of ventilation and
refrigerating systems |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
NAME & ADDRESS
CLIVET
S.P.A.
Zona
Industriale
Via Camp
Lonc - Fr. Villapaiera, 25
32032 –
Feltre (BL) -IT-
SUMMARY
|
Fiscal
Code |
: |
00708410253 |
|
Legal
Form |
: |
Joint stock company |
|
Start
of Activities |
: |
01/03/1988 |
|
Patrimonial
Consistence |
: |
Over 2.500.000 Eur |
|
Turnover
Range |
: |
100.000.000/150.000.000 Eur |
|
Number
of Employees |
: |
from 251 to 500 |
N.B.:
Additional information are present in the "FURTHER INFORMATION"
module.
CREDIT ANALYSIS
|
|
|
Under
the financial aspect a certain balance is reported which leads |
|
|
|
to a
credit with a very limited risk. |
|
|
|
n.b.:
The Creditworthness Rate shows, in percentage, the ratio between the
suggested credit opinion and the credit amount that the firm could get if the
financial situation would be completely positive. |
ACTIVITY
Installation
and/or assembly of ventilation and refrigerating systems.
LEGAL DATA
Legal
Form : Joint stock company
|
Fiscal
Code : 00708410253 |
|
Foreign
Trade Reg. no. : 798 of Belluno since 02/12/1991 |
|
Foreign
Trade Reg. no. : 000798 of Belluno since 02/12/1991 |
|
Chamber
of Commerce no. : 66577 of Belluno since 02/05/1988 |
|
Chamber
of Commerce no. : 1015790 of Roma |
|
Chamber
of Commerce no. : 317397 of Verona |
|
Firms'
Register : BL006-6150 since 19/02/1996 |
|
Court
: 6150 of Belluno since 30/03/1988 |
|
Foundation
Date |
:
01/03/1988 |
|
|
Establishment
Date |
:
01/03/1988 |
|
|
Start
of Activities |
:
01/03/1988 |
|
|
Legal
Duration Date |
:
31/12/2030 |
|
|
Nominal
Capital |
: 20.000.000 |
Eur |
|
Subscribed
Capital |
: 20.000.000 |
Eur |
|
Paid
up Capital |
: 20.000.000 |
Eur |
MEMBERS
|
Bello'
|
Elena
|
|
Born
in MAROSTICA |
on
06/03/1970 |
-
Fiscal Code : BLLLNE70C46E970U |
|
Residence
: |
Via |
PADRE
MARCO D'AVIANO |
, 7 |
-
33170 |
Pordenone
|
(PN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
30/03/2006 |
|
|
|
Managing
Director |
30/03/2006 |
|
|
No
Protests registered.
|
Bello'
|
Bruno
|
|
Born
in BASSANO DEL GRAPPA |
on
08/04/1945 |
-
Fiscal Code : BLLBRN45D08A703X |
|
Residence
: |
Via |
CANALE
|
, 25 |
-
36063 |
Marostica
|
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
|
|
|
|
Managing
Director |
30/03/2006 |
|
|
|
Board
Chairman |
30/03/2006 |
|
|
No
Protests registered.
|
Bello'
|
Stefano
|
|
Born
in MAROSTICA |
on
21/05/1973 |
-
Fiscal Code : BLLSFN73E21E970T |
|
Residence
: |
Via |
VOLPATO
|
, 49 |
-
36061 |
Bassano
del Grappa |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
30/03/2006 |
|
|
|
Managing
Director |
30/03/2006 |
|
|
No
Protests registered.
|
De
Menech |
Aurora
|
|
Born
in FELTRE |
on
17/06/1953 |
-
Fiscal Code : DMNRRA53H57D530J |
|
Residence
: |
Via |
PICCOLOTTO
|
, 10 |
-
32032 |
Feltre
|
(BL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
30/03/2006 |
|
|
|
Managing
Director |
30/03/2006 |
|
|
No
Protests registered.
|
BELLO'
|
FRANCESCO
|
|
Born
in MAROSTICA |
on
29/11/1974 |
-
Fiscal Code : BLLFNC74S29E970B |
|
Residence
: |
Via |
MONTE
PAGANELLA |
, 12 |
-
36061 |
Bassano
del Grappa |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
30/03/2006 |
|
|
|
Managing
Director |
30/03/2006 |
|
|
No
Protests registered.
COMPANIES CONNECTED TO MEMBERS *
*checkings
have been performed on a national scale.
*In this
module are listed the companies in which members hold or held positions.
|
Bello'
|
Elena
|
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
NEW
ORLEANS S.R.L. |
Feltre
(BL) - IT - |
01507880068 |
Sole
Director |
Ceased |
|
C.R.E.
S.R.L. |
Feltre
(BL) - IT - |
01019980257 |
Sole
Director |
Registered |
|
Bello'
|
Bruno
|
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
CLEVER
S.R.L. |
Basiano
(MI) - IT - |
08902720153 |
Board
Chairman |
Registered |
|
CLIVET
ITALIA S.R.L. |
Feltre
(BL) - IT - |
00772950259 |
Sole
Director |
Ceased |
|
CLIMEC
SRL |
Feltre
(BL) - IT - |
00752050252 |
Sole
Director |
Ceased |
|
FINCLIVET
SRL |
Bassano
del Grappa (VI) - IT - |
00710480245 |
Sole
Director |
Ceased |
|
MUSH.
TECH DI COSTA - BELLO' E C. S.N.C. |
Marostica
(VI) - IT - |
00630890242 |
Partner
|
Ceased |
|
Bello'
|
Stefano
|
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
CLEVER
S.R.L. |
Basiano
(MI) - IT - |
08902720153 |
Director
|
Registered |
|
De
Menech |
Aurora
|
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
GEP -
GESTIONE PUBBLICI ESERCIZI - DI DE MENECH AURORA E CORSO LEA S.D.F. |
Feltre
(BL) - IT - |
00636470254 |
Partner
|
Ceased |
|
SYNCRO
S.A.S. DI DE MENECH AURORA E C. |
Feltre
(BL) - IT - |
00295630255 |
General
Partner |
Ceased |
|
BELLO'
|
FRANCESCO
|
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
CLIVET
CLIMA S.P.A. |
Feltre
(BL) - IT - |
00714370251 |
Sole
Director |
Ceased |
The
indication "REGISTERED" as Firm Status could refere to Firms in
Liquidation, Active, Inactive, etc.
For more
information, in this case, we advise to request further investigations.
CAPITAL SHAREHOLDERS
|
Style / Name |
Seat / Address |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Bello'
Bruno |
Marostica
- IT - |
BLLBRN45D08A703X |
7.494.000 .Eur |
37,47 |
|
De
Menech Aurora |
Feltre
- IT - |
DMNRRA53H57D530J |
206.000 .Eur |
1,03 |
|
FINBELL
S.A. |
|
|
11.888.000 .Eur |
59,44 |
|
COSTA
GIUSEPPE |
|
CSTGPP48E21E970S |
206.000 .Eur |
1,03 |
|
ZAMPIERIN
ROBERTO |
|
ZMPRRT49A16A703L |
206.000 .Eur |
1,03 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
|
CLIVET
CLIMA S.P.A. |
Feltre
- IT - |
00714370251 |
5.160.000 .Eur |
100,00 |
|
CLIVET
ITALIA S.R.L. |
Feltre
- IT - |
00772950259 |
20.245 .Eur |
40,00 |
|
C.N.I.
CLIVET NUOVE INIZIATIVE S.R.L. |
Feltre
- IT - |
00750320251 |
10 .Eur |
0,10 |
|
NEW
ORLEANS S.R.L. |
Feltre
- IT - |
01507880068 |
182.000 .Eur |
100,00 |
|
Clivet
UK Ltd |
|
|
80.175 .Eur |
|
|
Clivet
Aircon Ltd |
|
|
80.476 .Eur |
|
|
Clivet
Tunisie |
|
|
34.741 .Eur |
|
|
Clivet
Nederland |
|
|
10.800 .Eur |
|
|
CLEVER
S.R.L. |
Basiano
- IT - |
08902720153 |
123.840 .Eur |
80,00 |
|
CLIMEC
SRL |
Feltre
- IT - |
00752050252 |
4.575.808 .Eur |
88,60 |
STRUCTURE AND COMPANY ACTIVITY
In order
to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
since
01/03/1988 |
in : |
|
|
|
|
|
Zona
Industriale |
Via
Camp Lonc - Fr. Villapaiera |
, 25 |
-
32032 - |
Feltre
|
(BL) |
- IT - |
|
|
|
|
PHONE |
no.
0439/89089 |
|
- |
Branch
|
(office
) |
since
29/12/2000 |
in : |
|
|
|
|
|
Zona
Industriale |
Via
Camp Lonc - Fr. Villapaiera |
, 12 |
-
32032 - |
Feltre
|
(BL) |
- IT - |
|
- |
Branch
|
(Store
) |
since
29/12/2000 |
in : |
|
|
|
|
|
Zona
Industriale |
Via
Camp Lonc - Fr. Villapaiera |
, 26 |
-
32032 - |
Feltre
|
(BL) |
- IT - |
|
- |
Branch
|
(office
) |
since
01/01/2002 |
in : |
|
|
|
|
|
Zona
Industriale |
Via
Camp Lonc - Fr. Villapaiera |
, 29 |
-
32032 - |
Feltre
|
(BL) |
- IT - |
|
- |
Branch
|
(office
) |
since
01/02/2002 |
in : |
|
|
|
|
|
Via |
Gino
Bozzini |
, 3 |
-
37100 - |
Verona
|
(VR) |
- IT - |
|
- |
Branch
|
(office
) |
since
25/07/2002 |
in : |
|
|
|
|
|
Via |
Del
Casale Agostinelli Fraz. Morena |
, 151 |
-
00100 - |
Roma |
(RM) |
- IT - |
|
|
|
|
Employees
|
: 314 |
|
|
|
|
Fittings
and Equipment |
for a value of 972.000 |
Eur |
|
|
|
|
Stocks
|
for a value of 8.514.500 |
Eur |
|
|
|
|
Furniture
and fittings |
for a value of 593.925 |
Eur |
Trade
organization: direct or by agents.
Sales
area on a national scale.
|
|
The firm
operates abroad as importer / exporter. .
To
purchase foreign products the firm uses the following channels :
|
-
direct orders to foreign companies |
Export
represents from 20% to 50% of the global turnover.
Products
abroad are placed by :
|
- its
own sales net-work |
|
- its
own agents |
|
-
direct orders from foreign companies |
Import
comes generally from the following nations:
|
-
Austria |
|
-
Belgio |
|
-
Svezia |
|
-
Germania |
|
-
Ungheria |
|
-
Bulgaria |
Export
is mainly towards:
|
-
Austria |
|
-
Belgio |
|
-
Francia |
|
-
Germania |
|
-
Grecia |
|
-
Polonia |
|
-
Ungheria |
|
-
Bulgaria |
HISTORICAL INFORMATION
|
Changes to the legal form |
|
Former legal form |
New legal form |
Changement Date |
|
Limited
liability company |
Joint
stock company |
23/02/1998 |
|
Ex-Members / Ex-Positions |
|
Bello'
|
Elena
|
|
Born
in MAROSTICA |
on
06/03/1970 |
-
Fiscal Code : BLLLNE70C46E970U |
|
Residence
: |
Via |
PADRE
MARCO D'AVIANO |
, 7 |
-
33170 |
Pordenone
|
(PN) |
- IT - |
|
Position |
|
Managing
Director |
|
MOSER
- SOC. A R.L. |
|
|
Born
in COMO |
on
15/05/1934 |
-
Fiscal Code : ZCCCSR34E15C933Y |
|
Residence
: |
Via |
CAVARZANO
|
, 2 |
-
32100 |
Belluno
|
(BL) |
- IT - |
|
Position |
|
Temporary
Auditor |
|
Bello'
|
Bruno
Angelo |
|
Born
in Bassano del Grappa |
on
08/04/1945 |
-
Fiscal Code : BLLBNN45D08A703J |
|
Fiscal
residence : |
Via |
Enego |
, 8 |
-
36061 |
Bassano
del Grappa |
(VI) |
- IT - |
|
Position |
|
Chairman
|
|
Bello'
|
Bruno
|
|
Born
in BASSANO DEL GRAPPA |
on
08/04/1945 |
-
Fiscal Code : BLLBRN45D08A703X |
|
Residence
: |
Via |
CANALE
|
, 25 |
-
36063 |
Marostica
|
(VI) |
- IT - |
|
Position |
|
Managing
Director |
|
Sole
Director |
|
Bello'Bruno
|
Angelo
|
|
Born
in Bassano del Grappa |
on
08/04/1945 |
-
Fiscal Code : BLLNGL45D08A703O |
|
Fiscal
residence : |
Via |
Canale
|
, 25 |
-
36063 |
Marostica
|
(VI) |
- IT - |
|
Position |
|
Chairman
|
|
Bello'
|
Stefano
|
|
Born
in MAROSTICA |
on
21/05/1973 |
-
Fiscal Code : BLLSFN73E21E970T |
|
Residence
: |
Via |
VOLPATO
|
, 49 |
-
36061 |
Bassano
del Grappa |
(VI) |
- IT - |
|
Position |
|
Managing
Director |
|
De
Menech |
Aurora
|
|
Born
in FELTRE |
on
17/06/1953 |
-
Fiscal Code : DMNRRA53H57D530J |
|
Residence
: |
Via |
PICCOLOTTO
|
, 10 |
-
32032 |
Feltre
|
(BL) |
- IT - |
|
Position |
|
Managing
Director |
|
BELLO'
|
FRANCESCO
|
|
Born
in MAROSTICA |
on
29/11/1974 |
-
Fiscal Code : BLLFNC74S29E970B |
|
Residence
: |
Via |
MONTE
PAGANELLA |
, 12 |
-
36061 |
Bassano
del Grappa |
(VI) |
- IT - |
|
Position |
|
Managing
Director |
|
PINTO
|
VINCENZO
|
|
Born
in LUCCA |
on
07/01/1938 |
-
Fiscal Code : PNTVCN38A07E715H |
|
Residence
: |
Via |
BIROLLI
RENATO |
, 18 |
-
20100 |
Milano
|
(MI) |
- IT - |
|
Position |
|
Director
|
|
Merged Companies |
|
The
firm absorved |
|
FINCLIVET
SRL |
|
Via |
ENEGO |
, 6 |
,
36061 |
,
Bassano del Grappa |
(VI) |
- IT - |
|
Fiscal
Code: 00710480245 |
|
Date |
: |
25/07/1997 |
|
The
firm absorved |
|
CLIVET
ITALIA S.R.L. |
|
Zona |
Industriale
|
,
32032 |
,
Feltre |
(BL) |
- IT - |
|
Fiscal
Code: 00772950259 |
|
Date |
: |
11/12/2000 |
|
The
firm absorved |
|
CLIMEC
SRL |
|
Via |
CAMP
LONC |
, 29 |
,
32032 |
,
Feltre |
(BL) |
- IT - |
|
Fiscal
Code: 00752050252 |
|
Date |
: |
10/12/2001 |
|
The
firm absorved |
|
NEW
ORLEANS S.R.L. |
|
Via |
CAMP
LONC |
, 26 |
,
32032 |
,
Feltre |
(BL) |
- IT - |
|
Fiscal
Code: 01507880068 |
|
Date |
: |
16/12/2005 |
|
The
firm absorved |
|
CLIVET
CLIMA S.P.A. |
|
Zona
Industriale |
Loc.
Villapaiera Via Camp Lonc |
, 12 |
,
32032 |
,
Feltre |
(BL) |
- IT - |
|
Fiscal
Code: 00714370251 |
|
Date |
: |
16/12/2005 |
CREDIT REVOLVING
The
subject of inquiry has been monitored by our company:
During
the last 12 Months : n. 1 times.
PROTESTS
Protests
checking on the subject firm has given a negative result.
LEGAL PROCEDURES
None
reported, standing to the last received edition of the Official Publications.
BANKERS
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
CASSA
DI RISPARMIO DI VERONA, VICENZA, B |
|
|
0 |
|
6355 |
0 |
|
BANCA
INTESA SPA |
|
|
|
|
3069 |
0 |
|
BANCA
ANTONIANA POPOLARE VENETA |
|
|
|
|
5040 |
0 |
IMMOVABLES *
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
|
Immovable Type |
Value |
|
Real
estates |
4.845.256 .Eur |
NB.: For
Capital Companies the value of the Immovables is the one reported in the last
available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Company's
starting of activities dates back to 1988.
A
positive economic result was achieved with a r.o.e. 0,27%.
The
operating result was positive (1,92%). and in line with the sector's average.
The
analysis shows a fair financial position as the indebtedness volume is
acceptable (1,72)
Moderate
recourse to bank credit while the exposure towards suppliers is rather high
even if it still falls within the sector's average.
Liquidity
is good (1,46)
FINANCIAL DATA
|
Complete
balance-sheet for the year as at |
31/12/2005 |
(in
Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
102.135.376 |
filed
balance sheet |
|
Profit
(Loss) for the period |
53.039 |
filed
balance sheet |
BALANCE SHEETS
From our
constant monitoring of the Public Administration, actually, no more recent
balance sheets result to be filed.
|
Balance Sheet as at 31/12/2005 - Months 12
- Currency Eur - Amounts x 1 |
|
Year |
|
|
|
2005 |
|
|
BALANCE SHEET ACCOUNTS |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS
TO SHAREHOLDERS |
|
|
|
|
|
FIXED
ASSETS ( NET ) |
|
|
|
16.657.819 |
|
.
Intangible assets |
|
|
|
570.092 |
|
.
Tangible fixed assets |
|
|
|
1.471.149 |
|
. .
Land and buildings |
|
|
|
|
|
. .
Plants, Equipm.and Machinery |
|
|
|
971.879 |
|
.
Long-term Investments |
|
|
|
14.616.578 |
|
. .
Financial loans |
|
|
|
14.616.578 |
|
. .
Own shares |
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
52.285.612 |
|
.
Stock |
|
|
|
8.514.554 |
|
.
Credits |
|
|
|
41.160.100 |
|
. .
Credits to clients |
|
|
|
33.295.008 |
|
. .
Other credits |
|
|
|
7.865.092 |
|
.
Short-term financial assets |
|
|
|
|
|
.
Liquid assets |
|
|
|
2.610.958 |
|
ACCRUED
INCOME-DEFERR. ASSETS |
|
|
|
62.545 |
|
TOTAL
ASSETS |
|
|
|
69.005.976 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET
WORTH |
|
|
|
19.099.246 |
|
.
Company's capital |
|
|
|
16.000.000 |
|
.
Reserves |
|
|
|
3.046.207 |
|
.
Reserves company's own shares |
|
|
|
|
|
.
Retained profits (losses) |
|
|
|
|
|
.
Profit (loss) |
|
|
|
53.039 |
|
PROVISION
CHARGES ACCOUNTS |
|
|
|
2.482.875 |
|
STAFF
TERM INDEMNITY |
|
|
|
2.983.936 |
|
DEBTS |
|
|
|
44.388.119 |
|
.
Financial M/L terms |
|
|
|
8.751.675 |
|
. .
Financial M/L term banks |
|
|
|
8.751.675 |
|
. .
Financial M/L bonds |
|
|
|
|
|
. .
Other financial M/L debts |
|
|
|
|
|
.
Financial short-term debts |
|
|
|
4.831.625 |
|
. .
Financial short-term banks |
|
|
|
4.831.625 |
|
. .
Financial short-term bonds |
|
|
|
|
|
. .
Other financial short-term debts |
|
|
|
|
|
. M/L
term debts to suppliers |
|
|
|
|
|
.
Short-term debts to suppliers |
|
|
|
28.020.770 |
|
.
Sundry M/L debts |
|
|
|
|
|
.
Sundry short-term debts |
|
|
|
2.784.049 |
|
ACCRUED
COSTS DEFERR. LIABILITIES |
|
|
|
51.800 |
|
TOTAL
LIABILITIES |
|
|
|
69.005.976 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
OUTPUT
VALUE |
|
|
|
103.143.326 |
|
.
Revenues from sales/services |
|
|
|
102.135.376 |
|
.
Change of stock (products) |
|
|
|
200.037 |
|
OPERATING
EXPENSES |
|
|
|
101.814.935 |
|
.
Purchasing expenses |
|
|
|
69.964.982 |
|
.
Change of stock (raw material) |
|
|
|
493.623 |
|
.
Expenses from services |
|
|
|
13.177.774 |
|
.
Expenses from leasing |
|
|
|
623.787 |
|
.
General expenses/sundry charges |
|
|
|
2.109.608 |
|
.
Staff expenses |
|
|
|
13.331.359 |
|
.
Depreciation/Devaluation costs |
|
|
|
2.113.802 |
|
FINANCIAL
REVENUES (CHARGES) |
|
|
|
26.987 |
|
.
Financial charges |
|
|
|
-409.114 |
|
.
Financial revenues |
|
|
|
436.101 |
|
FINANCIAL
ASSETS CORRECTION |
|
|
|
-143.855 |
|
EXTRAORDINARY
FINANCIAL REVENUES (CHARGES) |
|
|
|
99.051 |
|
PROFIT
(LOSS) FOR THE PERIOD |
|
|
|
1.310.574 |
|
TAX |
|
|
|
1.257.535 |
|
CORRECT./ALLOCAT.FISCAL
RULE |
|
|
|
|
|
NET
PROFIT (LOSS) |
|
|
|
53.039 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
Sector Average |
|
Fixed
assets ratio |
Units |
=>
1 |
l |
1,85 |
1,63 |
|
Net
Short-term indebtedness |
Units |
- 1 |
l |
1,72 |
3,58 |
|
Current
ratio |
Units |
=>
1 |
l |
1,46 |
1,16 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
=>
1 |
l |
1,22 |
0,85 |
|
Return
on Sales |
% |
|
l |
2,12 |
3,53 |
|
Average
stock waiting period |
dd |
|
l |
29,98 |
58,26 |
|
Credits
to clients average term |
dd |
|
l |
117,32 |
127,13 |
|
Debts
to suppliers average term |
dd |
|
l |
120,42 |
140,00 |
|
Net
financial revenues/ charges incidence |
% |
|
l |
0,02 |
- 1,12 |
|
Labour
cost incidence |
% |
|
l |
13,05 |
18,26 |
O.V.
= Optimal Value. When not present refer to the sector's.
A
coloured item indicates the opinion of the rate during the last financial year
(green=good;
orange=not optimal; red=insufficient; n.c.=not computable)
FURTHER INFORMATION
We have
to stress that the item extraordinary financial charges represent capital losses on shares transfer.
During
2003 subject was forced to transfer its partecipation shares in the Spanish company Clivet Espana SA ,
whose trend was negative. Moreover we stress that the holding company Finbell
SA is placed in Luxembourg.
CREDIT OPINION DETERMINATION
The
credit opinion determination is divided into two phases :
1) Risk
analysis (Score).
2)
Reliability score identification.
RISK ANALYSIS (SCORE)
On the
base of precise indicators as "Activity sector", "Area",
"Firm's foundation", "Payment
analysis","Profitability", we analysed the companies included in
the same activity sector of subject company, classifying them by their own risk
score.
RELIABILITY SCORE
Considering
also subject's structural and behavioural characteristics its credit margin
rate (from 0 to 100%) is equal to 79%, in respect of a sector average of 55%.
CREDIT OPINION
On the
basis of the above mentioned, and the sales volume obtained, we deem that the
maximum exposure for short and medium term transactions ( 90 - 120 days ) could
be of:
818.100 .Eur.
REMARKS
1)
Protests checking (relative to the last five years) performed by crossing and matching
the members names and the Firm's Style with the reported addresses, is supplied
by the Informatic Registry managed by the Italian Chamber of Commerce. If the
fiscal code is not indicated, the eventual homonymous cases are submitted to
expert staff evaluation in order to limit wrong matching risks.
2) The
Legal Data, supplied and retrived from the Firm's Registry of the Italian
Chamber of Commerce, are in line with the last registered modifications.
MARKET / TERRITORY DATA
|
Population
living in the province |
: |
212.244 |
|
Population
living in the region |
: |
4.699.950 |
|
Number
of families in the region |
: |
1.813.210 |
Monthly
family expences average in the region (in Eur.) :
|
- per
food products |
: |
456 |
|
- per
non food products |
: |
2.052 |
|
- per
energy consume |
: |
127 |
SECTOR DATA
The
values are calculated on a base of 318 significant companies.
The
companies cash their credits on an average of 127 dd.
The
average duration of suppliers debts is about 140 dd.
The
sector's profitability is on an average of 3,53%.
The
labour cost affects the turnover in the measure of 18,26%.
Goods
are held in stock in a range of 58 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,19.
The
employees costs represent the 18,17% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally
the trade activity shows periods of crisis.
The area
is statistically considered lowly risky.
In the
region 13.782 protested subjects are found; in the province they count to 268.
The
insolvency index for the region is 0,30, while for the province it is 0,13.
Total
Bankrupt companies in the province : 393.
Total
Bankrupt companies in the region : 16.714.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |