MIRA
INFORM REPORT
|
Report Date : |
14th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
CAMBREX
PROFARMACO MILANO SRL |
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Registered Office : |
Via Cucchiari Domenico, 17, 20100 - Milano(MI) , Italy |
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Country : |
Italy |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
15/03/1993 |
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Legal Form : |
Limited
liability company |
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Line of Business : |
Production
of chemicals for industrial use. Production of biological pharmaceutical
substances. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa |
|
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 |
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Maximum Credit Limit : |
1.113.500 .Eur. |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company name & address
CAMBREX PROFARMACO MILANO S.R.L.
Via Cucchiari Domenico, 17
20100 - Milano (MI) -IT-
SUMMARY
Fiscal Code : 02330040243
Legal Form : Limited liability
company
Start of Activities : 07/02/1994
Patrimonial Consistence : Over 2.500.000 Eur
Turnover Range : 50.000.000/75.000.000 Eur
Number of Employees : from 201 to 250
CREDIT ANALYSIS
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
Production
of chemicals for industrial use. Production of biological pharmaceutical
substances.
LEGAL DATA
Legal
Form : Limited liability company
Fiscal Code : 02330040243
Foreign Trade Reg. no. : 229076 of Milano since 05/07/1995
Chamber of Commerce no. : 1465184 of Milano since 09/03/1995
Firms' Register :
MI146-350665 since 19/02/1996
Establishment Date :15/03/1993
Start of Activities : 07/02/1994
Legal Duration Date :
31/12/2050
Nominal Capital : 2.610.400 Eur
Subscribed Capital :
2.610.400 Eur
Paid up Capital : 2.610.400 Eur
MEMBERS
Russolo Paolo
Born in MILANO on 29/11/1944 - Fiscal Code : RSSPLA44S29F205Y
Residence : Viale MAINO , 28 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Director 30/06/2003
No
Protests registered.
Petterson Per Olov Stenborg
Born in GAVLE on
30/12/1935 - Fiscal Code : PTTPLV35T30Z132J
Residence : Via MONTE ROSA ,
3 - 21010 Cardano Al Campo (VA) - IT -
Position Since Shares
Amount % Ownership
Director 30/06/2003
Board Chairman 30/06/2003
No
Protests registered.
Thauer Peter
Ernest
Born in NEW YORK on 06/09/1939 - Fiscal Code : THRPRR39P06Z404Q
Residence : Via CUCCHIARI DOMENICO , 17 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Director 30/06/2003
No
Protests registered.
Bogni Maurizio
Born in RHO on 27/06/1949 - Fiscal Code : BGNMRZ49H27H264W
Residence : Via PINTURICCHIO , 23 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 02/02/1996
No
Protests registered.
Magnini Aldo
Born in MILANO on 19/05/1953 - Fiscal Code : MGNLDA53E19F205C
Residence : Via CASANOVA LUIGI , 1 - 20100 Milano (MI) - IT -
Position Since Shares
Amount % Ownership
General Director 26/01/2005
PISANI ALESSANDRO
Born in MILANO on 19/04/1974 - Fiscal Code : PSNLSN74D19F205U
Residence : Via DOMENICHINO , 19 - 20100 Milano (MI) - IT -
Position Since Shares
Amount % Ownership
Attorney with special power 07/02/2002
No
Protests registered.
RIZZI MATTEA CORINNA
Born in ABBIATEGRASSO on 11/07/1966 - Fiscal Code : RZZMTC66L51A010N
Residence : Via MARCONI , 50 - 20080 Albairate (MI) - IT -
Position Since Shares
Amount % Ownership
Attorney with special power 07/02/2002
No
Protests registered.
RUSSOLO CLAUDIO
Born in MILANO on 22/12/1974 - Fiscal Code : RSSCLD74T22F205I
Residence : Via CUCCHIARI , 17 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 28/10/2002
No
Protests registered.
BESHAR LUKE MATTHEW
Born in NEW JERSEY on 06/05/1958 - Fiscal Code : BSRLMT58E
Residence : JUMMIT LORRAINE
Position Since Shares Amount % Ownership
Director 30/06/2003
No
Protests registered.
VAN BOVEN MARINUS
Born in WOLPHAARTSDIJK on
29/04/1950 - Fiscal Code :
VNBMNS50D29Z126C
Residence : Bastioni DI PORTA NUOVA , 52 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 30/06/2003
No
Protests registered.
CASUCCI DOMENICO
Born in MILANO on 25/10/1955 - Fiscal Code : CSCDNC55R25F205N
Residence : Via STRASBURGO , 6/C - 20097 San Donato Milanese (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 30/06/2003
No
Protests registered.
CHIESA ANTONIO
Born in MEDIGLIA on 07/01/1950 - Fiscal Code : CHSNTN50A07F084O
Residence : Via Y. GAGARIN , 8 - 20067 Paullo (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 30/06/2003
No
Protests registered.
GIANOLLI EDOARDO AMBROGIO
Born in PAULLO on 10/01/1963 - Fiscal Code : GNLDDM63A10G385F
Residence : Via F.LLI VIGORELLI , 3 - 20067 Paullo (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 30/06/2003
No
Protests registered.
NEGRI MARCELLO
Born in MILANO on 26/02/1949 - Fiscal Code : NGRMCL49B26F205Q
Residence : Viale GRAN SASSO , 40 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 30/06/2003
No
Protests registered.
VOLPI GIULIO GIUSEPPE
Born in MONZA on 21/06/1965 - Fiscal Code : VLPGGS65H21F704D
Residence : Via CUCCHIARI DOMENICO , 17 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 30/06/2003
No
Protests registered.
MORO FRANCO
Born in ESTE on 09/10/1962 - Fiscal Code : MROFNC62R09D442K
Residence : Via CUCCHIARI DOMENICO , 17 - 20100 Milano (MI) - IT -
Position Since Shares
Amount % Ownership
Attorney with special power 02/03/2004
No
Protests registered.
COTTIGNOLI ANDREA
Born in MILANO on 17/10/1953 - Fiscal Code : CTTNDR53R17F205K
Residence : Via CUCCHIARI DOMENICO , 17 - 20100 Milano (MI) - IT -
Position Since Shares
Amount % Ownership
Attorney with special power 09/02/2004
No
Protests registered.
KLOSK STEVEN MARK
Born in NEW YORK on 02/03/1957 - Fiscal Code : KLSSVN57C
Residence : 852, HIGHWOODS DRIVE FRANKLIN
LAKES, NEW JERSEY
Position Since Shares Amount % Ownership
Director 29/04/2005
No
Protests registered.
PIVA RODOLFO
Born in MILANO on 18/04/1948 - Fiscal Code : PVIRLF48D18F205G
Residence : Via CUCCHIARI DOMENICO , 17 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Procurator 16/06/2005
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.
Petterson Per Olov Stenborg
Company Style Legal Sea Fiscal Code Position Firm Status
PETTERSON DI PER
OLOV Cardano
Al 02360710129 Partner Ceased
STENBORG PETTERSON
E C. S.N.C. Campo (VA) - IT
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
CAMBREX NETHERLANDS BV 97192490155 2.462.982 .Eur 95,00
CAMBREX BV 97172340156 129.630 .Eur 5,00
DIRECT PARTICIPATIONS
Company Style Legal Seat Fiscal Code Owned Shares % of Ownership
PRC TICINUM LAB S.R.L. 01789880034 25.000 .Eur 50,00
STRUCTURE AND COMPANY ACTIVITY
In order
to carry out its activities the firm uses the following locations:
- Legal and operative seat in :
Via Cucchiari Domenico
, 17 - 20100 - Milano (MI) - IT -
PHONE no. 02/33105520
- Operative
seat since 07/03/1996 in :
Via Curiel , 30 - 20067 - Paullo (MI) - IT -
Employees : 216
Assistants : 1
Fittings and Equipment for a
value of 22.796.000 Eur
Stocks for a value of
13.353.000 Eur
Trade organization: direct or by agents.
The company sells in Italy and abroad.
Import
comes generally from the following nations:
- Germania
HISTORICAL INFORMATION
Ex-Members
/ Ex-Positions
Bonazzo Paolo Giacinto
Born in TIRANO on 23/11/1954 - Fiscal Code : BNZPGC54S23L175H
Residence : Via DONIZETTI GAETANO , 39 - 20100 Milano (MI) - IT -
Position
Chairman of the Board of Aud.
Aiello Armando
Born in CAMPAGNA on 15/10/1952 - Fiscal Code : LLARND52R15B492N
Residence : Via DONIZETTI GAETANO , 32 - 20100 Milano (MI) - IT -
Position
Permanent Auditor
Russolo Paolo
Born in MILANO on 29/11/1944 - Fiscal Code : RSSPLA44S29F205Y
Residence : Viale MAINO , 28 - 20100 Milano (MI) - IT -
Position
Managing Director
Managing Director
Gammino Adriana
Born in CERIGNOLA on 11/08/1957 - Fiscal Code : GMMDRN57M51C514H
Residence : Via DANTE ALIGHIERI , 38 - 20090 Cesano Boscone (MI) - IT -
Position
Temporary Auditor
Tracey Peter
Born in LIVERPOOL on 16/01/1942 - Fiscal Code : TRCPTR42A16Z114P
Residence : Via Cucchiari Domenico , 17 - 20100 Milano (MI) - IT -
Position
Director
Assistant board Chairman
Sorblum Susan
M.
Born in NEW YORK on 27/05/1953 - Fiscal Code : SRBSSN53E67Z404H
Residence : Via Cucchiari Domenico , 17 - 20100 Milano (MI) - IT -
Position
Director
Ruffaldi Sabina
Born in Milano on 30/12/1961 - Fiscal Code : RFFSBN61T70F205O
Residence : Via Tertulliano , 35 - 20100 Milano (MI) - IT -
Position
Procurator
Magnini Aldo
Born in MILANO on 19/05/1953 - Fiscal Code : MGNLDA53E19F205C
Residence : Via CASANOVA LUIGI , 1 - 20100 Milano (MI) - IT -
Position
Sales director
Meneguzzo Roberto
Born in MALO on 06/02/1956 - Fiscal Code : MNGRRT56B06E864G
Residence : Contra' ZANELLA , 6 - 36100 Vicenza (VI) - IT -
Position
Permanent Auditor
Mallardo Antonio
Born in SALERNO on 01/09/1965 - Fiscal Code : MLLNTN65P01H703X
Residence : Via DONIZETTI , 39 - 20100 Milano (MI) - IT -
Position
Temporary Auditor
Glassell Claes Johan Robert
on 11/04/1951 - Fiscal Code :
GLSCSJ51D11Z132M
Residence : Via Cucchiari Domenico , 17 - 20100 Milano (MI) - IT -
Position
Director
Assistant board Chairman
Mc Millan Douglas Hathaway
Born in New Jersey on 09/02/1946 - Fiscal Code : MCMDLS46B09Z404M
Residence : Via Cucchiari Domenico , 17 - 20100 Milano (MI) - IT -
Position
Director
Merged Companies
The firm
absorved
NOBEL
HOUSE S.R.L.
, MILANO - IT -
Fiscal
Code: 00720240159
Date : 27/11/1996
PAYMENTS ANALYSIS
The
average term of debts to suppliers is high compared with that
of the
sector.
PAYMENTS
SCORE : - No insolvency
CREDIT REVOLVING
During
last Year, the subject of inquiry has not been monitored by our company.
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
BANCA COMMERCIALE ITALIANA 0 2002 0
CREDITO ITALIANO 0 2008 0
IMMOVABLES
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
Immovable Type Value
Real estates 10.975.101 .Eur
NB.: For
Capital Companies the value of the Immovables is the one reported in the last
available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject
is active since 1994
A
positive economic result was achieved with a r.o.e. 10,02%.
The
operating result is positive (12,34%). and reflects the field's average.
The
company has an excellent net worth if compared to its debts, with a low
indebtedness (0,13)
The
recourse to financial credit is within the limits; on the other hand the
recourse to suppliers' credit is rated as fairly high and higher than sector's
average.
Nevertheless
available funds are good.
FINANCIAL DATA
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
Item Type Amount Source
Sales 59.190.733 filed
balance sheet
Profit (Loss) for the period 7.621.009 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 31/12/2004 - Months 12 - Currency Eur - Amounts x 1
Year 2004
BALANCE SHEET ACCOUNTS
.
ASSETS
CREDITS TO SHAREHOLDERS
FIXED ASSETS ( NET ) 68.461.056
. Intangible assets 623.916
. Tangible fixed assets 38.881.452
. . Land and buildings 10.975.101
. . Plants, Equipm.and Machinery 22.795.897
. Long-term Investments 28.955.688
. . Financial loans 28.955.688
. . Own shares
CURRENT ASSETS 40.715.789
. Stock 13.353.222
. Credits 11.021.350
. . Credits to clients 7.324.955
. . Other credits 3.696.395
. Short-term financial assets
. Liquid assets 16.341.217
ACCRUED INCOME-DEFERR. ASSETS 328.311
TOTAL ASSETS 109.505.156
.
LIABILITIES
NET WORTH 75.992.533
. Company's capital 2.610.400
. Reserves 10.931.321
. Reserves company's own shares
. Retained profits (losses) 54.829.803
. Profit (loss) 7.621.009
PROVISION CHARGES ACCOUNTS 475.571
STAFF TERM INDEMNITY 3.299.655
DEBTS 29.732.828
. Financial M/L terms 3.421.129
. . Financial M/L term banks
. . Financial M/L bonds
. . Other financial M/L debts 3.421.129
. Financial short-term debts
. . Financial short-term banks
. . Financial short-term bonds
. . Other financial short-term
debts
. M/L term debts to suppliers
. Short-term debts to suppliers 17.884.339
. Sundry M/L debts
. Sundry short-term debts 8.427.360
ACCRUED COSTS DEFERR. LIABILITIES 4.569
TOTAL LIABILITIES 109.505.156
.
PROFIT AND LOSS ACCOUNTS
OUTPUT VALUE 60.638.148
. Revenues from sales/services 59.190.733
. Change of stock (products) -579.701
OPERATING EXPENSES 47.125.037
. Purchasing expenses 14.062.081
. Change of stock (raw material) -56.052
. Expenses from services 15.062.733
. Expenses from leasing 18.037
. General expenses/sundry charges 254.134
. Staff expenses 11.251.730
. Depreciation/Devaluation costs 6.532.374
FINANCIAL REVENUES (CHARGES) 515.401
. Financial charges 219.185
. Financial revenues 296.216
FINANCIAL ASSETS CORRECTION
EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) 147.817
PROFIT (LOSS) FOR THE PERIOD 14.176.329
TAX 6.555.320
CORRECT./ALLOCAT.FISCAL RULE
NET PROFIT (LOSS) 7.621.009
RATIOS Item O.V. O.V. as at 31/12/2004 Sector Average
Fixed assets ratio Units => 1 l 1,20 1,62
Net Short-term indebtedness Units - 1 l 0,13 2,59
Current ratio Units => 1 l 1,54 1,19
Acid Test Ratio-Liquidity Ratio Units => 1 l 1,03 0,94
Return on Sales % l 23,91 5,22
Average stock waiting period dd l 81,18 43,23
Credits to clients average term dd l 44,53 130,60
Debts to suppliers average term dd l 220,89 120,63
Net financial revenues/ charges
incidence % l 0,87 - 0,81
Labour cost incidence % l 19,00 12,27
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)
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 100%, in respect of a sector average of 58%.
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:
1.113.500
.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 : 3.839.216
Population living in the region : 9.393.092
Number of families in the region : 3.858.736
Monthly
family expences average in the region (in Eur.) :
- per food products : 460
- per non food products : 2.090
- per energy consume : 114
SECTOR DATA
The
values are calculated on a base of 124 significant companies.
The
companies cash their credits on an average of 130 dd.
The
average duration of suppliers debts is about 120 dd.
The
sector's profitability is on an average of 5,22%.
The
labour cost affects the turnover in the measure of 12,27%.
Goods
are held in stock in a range of 43 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,27.
The
employees costs represent the 13,15% 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 50.886 protested subjects are found; in the province they count to
24.765.
The
insolvency index for the region is 0,55, while for the province it is 0,66.
Total
Bankrupt companies in the province : 22.523.
Total
Bankrupt companies in the region : 39.612.
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 |