MIRA
INFORM REPORT
|
Report Date : |
16th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
FERROMETALLI
- SAFEM S.P.A. |
|
|
|
|
Registered Office : |
Piazza
Fontana, 6
20100-
Milano (MI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31/12/2004 |
|
|
|
|
Date of Incorporation : |
19/02/1906 |
|
|
|
|
Com. Reg. No.: |
- - |
|
|
|
|
Legal Form : |
Joint
stock company |
|
|
|
|
Line of Business : |
Engaged
in the business of :
|
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
NAME & address
FERROMETALLI
- SAFEM S.P.A.
Piazza
Fontana, 6
20100-
Milano (MI) -IT-
SUMMARY
|
Fiscal
Code |
: |
00223830167 |
|
Legal
Form |
: |
Joint
stock company |
|
Start
of Activities |
: |
19/02/1906 |
|
Patrimonial
Consistence |
: |
Over
2.500.000 Eur |
|
Turnover
Range |
: |
100.000.000/150.000.000
Eur |
|
Number
of Employees |
: |
from 131 to 150 |
|
Group |
: |
*
FALCK |
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
Treatement
and dressing of metals.
Wholesale
of half-manufactured ferrous metals.
Wholesale
of non ferrous metals and unfinished non ferrous metal products.
LEGAL DATA
Legal
Form : Joint stock company
|
Fiscal
Code : 00223830167 |
|
Foreign
Trade Reg. no. : 283503 of Milano since 22/09/1998 |
|
Chamber
of Commerce no. : 123823 of Bologna |
|
Chamber
of Commerce no. : 106307 of Bolzano |
|
Chamber
of Commerce no. : 5135 of Milano since 24/05/1911 |
|
Chamber
of Commerce no. : 172863 of Udine |
|
Chamber
of Commerce no. : 194636 of Venezia |
|
Firms'
Register : MI-1998-164443 since 23/07/1998 |
|
V.A.T.
Code : 12430360151 |
|
Foundation
Date |
:
19/02/1906 |
|
|
Establishment
Date |
:
19/02/1906 |
|
|
Start
of Activities |
:
19/02/1906 |
|
|
Legal
Duration Date |
:
31/12/2050 |
|
|
Nominal
Capital |
: 8.230.975 |
Eur |
|
Subscribed
Capital |
: 8.230.975 |
Eur |
|
Paid
up Capital |
: 8.230.975 |
Eur |
MEMBERS
|
Leggio
|
Carmelo
|
|
Born
in RAGUSA |
on
19/06/1960 |
-
Fiscal Code : LGGCML60H19H163A |
|
Residence
: |
Piazza
|
FONTANA
|
, 6 |
-
20100 |
Milano
|
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator
|
15/12/2004 |
|
|
No
Protests registered.
|
Bruzzo
|
Giuseppe
|
|
Born
in GENOVA |
on
10/07/1948 |
-
Fiscal Code : BRZGPP48L10D969I |
|
Residence
: |
Via |
FOSSE
ARDEATINE |
, 4 |
-
20092 |
Cinisello
Balsamo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
DE
SMUL |
WILLY
|
|
Born
in POESELE |
on
19/04/1946 |
-
Fiscal Code : DSMWLY46D19Z103N |
|
Residence
: |
Via |
FOSSE ARDEATINE
|
, 4 |
-
20092 |
Cinisello
Balsamo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
GUINABERT
|
DANIEL
|
|
Born
in BARSAC |
on
28/04/1954 |
-
Fiscal Code : GNBDNL54D28Z110E |
|
Residence
: |
COURS
LANGLET |
, 6 |
REIMS |
- FR - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
Board
Chairman |
28/04/2005 |
|
|
|
ROUFFIAC
|
JEAN
PAUL ANDRE' MARIE |
|
Born in
LILLEBONNE SEINE MARITIME |
on
03/10/1952 |
-
Fiscal Code : RFFJPL52R03Z110C |
|
Residence
: |
AVENUE
PASTEUR |
, 14 |
MAREIL
MARLY |
- FR - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
PAGNON
|
RICHARD
|
|
Born
in REINS |
on
26/10/1956 |
-
Fiscal Code : PGNRHR56R26Z110V |
|
Residence
: |
Via |
FOSSE
ARDEATINE |
, 4 |
-
20092 |
Cinisello
Balsamo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
KENNEL
|
JEAN
CHRISTOPHE |
|
Born
in STRASBURGO |
on
01/10/1962 |
-
Fiscal Code : KNNJCH62R01Z110E |
|
Residence
: |
Via |
FOSSE
ARDEATINE |
, 4 |
-
20092 |
Cinisello
Balsamo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
BOEHLY
|
ETIENNE
ANDRE' |
|
Born
in NEUF-BRISACH |
on
10/02/1952 |
-
Fiscal Code : BHLTNN52B10Z110D |
|
Residence
: |
Via |
FOSSE
ARDEATINE |
, 4 |
-
20092 |
Cinisello
Balsamo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
THIL
|
JEAN
LOUIS NORBERT |
|
Born
in THIONVILLE |
on
10/06/1960 |
-
Fiscal Code : THLJLS60H10Z110N |
|
Residence
: |
Via |
FOSSE
ARDEATINE |
, 4 |
-
20092 |
Cinisello
Balsamo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director
|
28/04/2005 |
|
|
|
MEARINI
|
MARCO
|
|
Born
in BUSTO ARSIZIO |
on
17/04/1967 |
-
Fiscal Code : MRNMRC67D17B300D |
|
Residence
: |
Piazza
|
FONTANA
|
, 6 |
-
20100 |
Milano
|
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator
|
15/12/2004 |
|
|
COMPANIES CONNECTED TO MEMBERS *
*checkings
have been performed on a national scale.
The Members
of the subject firm are not reported to be Members in other companies.
CAPITAL SHAREHOLDERS
|
Style / Name |
Seat / Address |
Fiscal Code |
Owned Shares |
% of Ownership |
|
BANCA
FIDEURAM SPA |
Milano
- IT - |
00714540150 |
2 .Eur |
|
|
BANCA
POPOLARE COMMERCIO E INDUSTRIA SOCIETA' COOPERATIVA A RESPONSABILITA' LIMI |
Milano
- IT - |
00714480159 |
1.040 .Eur |
0,01 |
|
BANCA
POPOLARE DI MILANO SOC.COOP.A R.L. O IN BREVE 'BIPIEMME O B.P.M.' |
Milano
- IT - |
00715120150 |
2 .Eur |
|
|
COFIND-COMPAGNIA
FINANZIARIA INDUSTRIALE SPA |
Milano
- IT - |
04611470156 |
520 .Eur |
0,01 |
|
Leggio
Carmelo |
Milano
- IT - |
LGGCML60H19H163A |
10 .Eur |
|
|
Agostini
Marco |
Milano
- IT - |
GSTMRC59D30G224U |
5 .Eur |
|
|
Fantini
Roberto |
Milano
- IT - |
FNTRRT32E12F205B |
104 .Eur |
|
|
Caffi
Mario |
Bergamo
- IT - |
CFFMRA39C28A794Q |
36 .Eur |
|
|
Comelli
Giancarlo |
Milano
- IT - |
CMLGCR32A02E317P |
2 .Eur |
|
|
Abbondio
Angelo |
Milano
- IT - |
BBNNGL41T27F205W |
6.138 .Eur |
0,07 |
|
Abbiezzi
Giulio |
Milano
- IT - |
BBZGLI27A24F205L |
416 .Eur |
0,01 |
|
Doneda
Giovanni |
Brembate
- IT - |
DNDGNN31P22B137B |
17 .Eur |
|
|
Colombo
Claudio |
Milano
- IT - |
CLMCLD59M28D286F |
5 .Eur |
|
|
Sodif
S.R.L. |
Milano
- IT - |
01570060069 |
8.099.107 .Eur |
98,40 |
|
Fabris
Carlo |
|
FBRCRL46H23E125Z |
145 .Eur |
|
|
Agazzi
Bruno |
|
GZZBRN26L22L219P |
8 .Eur |
|
|
Goggia
Maria Camilla |
Milano
- IT - |
GGGMCM08T60C632Q |
218 .Eur |
|
|
BERTUZZI
MAURIZIO |
|
BRTMRZ43D06G535P |
10 .Eur |
|
|
GIANI
LIVIO |
|
GNILVI40D25L682Q |
27 .Eur |
|
|
AGOSTONI
CESARE |
|
|
1 .Eur |
|
|
ALLINI
CIPRIANO |
|
LLNCRN42E11G337I |
7 .Eur |
|
|
ALVERDI
ALBERTO |
|
LVRLRT61L03G224Q |
1 .Eur |
|
|
AMATI
GIUSEPPE |
|
MTAGPP24T04A794Z |
64 .Eur |
|
|
ANNONI
PAOLO |
|
NNNPLA34R23B162I |
31 .Eur |
|
|
DOTT.
ARDUIN GIOVANNI S.A.S. DI DANTE CARZANIGA E C. |
|
80023140157 |
2 .Eur |
|
|
AUREGLI
ARRIGO |
|
RGLRRG17A30A944R |
451 .Eur |
0,01 |
|
AZZONI
LUCIA |
|
ZZNLCU14T67A794Y |
45 .Eur |
|
|
AZZONI
RENATA |
|
ZZNRNT43L41A794X |
22 .Eur |
|
|
BALDIN
PAOLO |
|
BLDPLA34L10I120N |
5 .Eur |
|
|
BARISI
ALBANO |
|
BRSLBN08M09L424C |
260 .Eur |
|
|
BARONE
ERMINIO |
|
BRNRMN10T21E507F |
1.042 .Eur |
0,01 |
|
BARZANI
DANIELA |
|
BRZDNL50H56F205R |
104 .Eur |
|
|
BELLICH
MARGHERITA |
|
BLLMGH15E60Z118L |
291 .Eur |
|
|
BELOTTI
ANNA MARIA |
|
BLTNMR86S66M144A |
3 .Eur |
|
|
BERETTA
ANGELO |
|
BRTNGL99H28F205F |
|
|
|
BERETTA
ANTONIO |
|
BRTNTN27E19A816T |
22 .Eur |
|
|
BERIZZI
MARIA TERESA |
|
BRZMTR41R52A794Q |
106 .Eur |
|
|
BERTACCHI
LUIGI |
|
BRTLGU28L09A794U |
859 .Eur |
0,01 |
|
BIANCHI
LUCIANA |
|
BNCLCN39P57F205H |
72 .Eur |
|
|
BIANCHI
MARIO |
|
BNCMRA30C24C300T |
1.560 .Eur |
0,02 |
|
BIANCHI
UMBERTO |
|
BNCMRT40R23F205C |
13 .Eur |
|
|
BIANCO
ANTONIO |
|
BNCNTN39A01C441M |
1.040 .Eur |
0,01 |
|
BONANDRINI
MAGDA |
|
BNNMGD24E47F205V |
183 .Eur |
|
|
BONIFACCIO
FRANCESCO |
|
BNFFNC69E30F205J |
56 .Eur |
|
|
BONIFACCIO
FULVIO |
|
BNFFLV39D29F205V |
139 .Eur |
|
|
BONIFACCIO
GIANCARLO |
|
BNFGCR63M13F205R |
56 .Eur |
|
|
BONOMI
GIOVANNI CARLO |
|
BNMGNN25M07A794U |
70 .Eur |
|
|
BONOMI
LAURA |
|
BNMLRA23C58F205G |
11 .Eur |
|
|
BRIGNARDELLO
LUIGI |
|
BRGLGU16D25F205Z |
327 .Eur |
|
|
BRIGNARDELLO
MARIA ROSA |
|
BRGMRS47C53L682M |
12 .Eur |
|
|
BRIGNARDELLO
PIETRO |
|
BRGPTR86P29L013T |
13 .Eur |
|
|
BUSNELLI
GIULIO |
|
BSNGLI23C06F205D |
41 .Eur |
|
|
CAFFI
FEDERICO |
|
CFFFRC08A26A794W |
23 .Eur |
|
|
CAMANZI
ILIA |
|
CMNLII25D59C963Y |
104 .Eur |
|
|
CAMERONI
LUIGI |
|
CMRLGU25H26D198Q |
156 .Eur |
|
|
CARDIN
OSVALDO |
|
CRDSLD42L27G888K |
1.664 .Eur |
0,02 |
|
CAROBBIO
MARIA |
|
CRBMRA09R42L400M |
520 .Eur |
0,01 |
|
CARRARA
LEONE |
|
CRRLNE87S12L936D |
1 .Eur |
|
|
CASTAGNOLI
CARLO |
|
CSTCRL11T26C573P |
1.248 .Eur |
0,02 |
|
CAVALCA
ALESSANDRO |
|
CVLLSN55H29G337B |
644 .Eur |
0,01 |
|
CERFEDA
EGIDIO |
|
CRFGDE26S16H708E |
78 .Eur |
|
|
CLERICI
BRUNA |
|
CLRBRN22P60F205I |
12 .Eur |
|
|
COLOMBO
ETTORE |
|
CLMTTR01B26H864O |
1.366 .Eur |
0,02 |
|
COLOMBO
MARCO |
|
CLMMRC45M14E514V |
208 .Eur |
|
|
CORENGIA
ANGIOLA |
|
CRNNGL09L59C933Y |
260 .Eur |
|
|
CORICA
GIUSEPPE |
|
CRCGPP20P25I754J |
624 .Eur |
0,01 |
|
COSSUTTA
FRANCO |
|
CSSFNC41E08F159B |
1.092 .Eur |
0,01 |
|
CRIPPA
GABRIELLA |
|
CRPGRL03E49E507S |
18 .Eur |
|
|
CROCETTI
SECONDO |
|
CRCSND24M22L304Z |
52 .Eur |
|
|
DE
BIASI ALFREDO |
|
DBSLRD22D06A794C |
132 .Eur |
|
|
DE
ROCCHI CHERUBINA |
|
DRCCRB20D61E858B |
124 .Eur |
|
|
DE
VITO PISCICELLI TAEGGI GIACOMO |
|
DVTGCM41S23F205P |
|
|
|
DUC
LUIGI |
|
DCULGU10C27Z110S |
7 .Eur |
|
|
FABIO
ANGELA |
|
FBANGL03S48L341L |
183 .Eur |
|
|
FACCANI
VINCENZO |
|
FCCVCN06B09E731H |
104 .Eur |
|
|
FAGGION
NORMA |
|
FGGNRM23B62G224E |
145 .Eur |
|
|
FARINELLI
MARIA LUISA |
|
FRNMLS47C60H501C |
1.040 .Eur |
0,01 |
|
FERRANTE
MARCELLA |
|
FRRMCL59E67A794Z |
786 .Eur |
0,01 |
|
FININTER
FINANZIARIA INTERNAZIONALE S.A. |
|
|
18 .Eur |
|
|
FIORETTI
GIANCARLO |
|
FRTGCR46T26E507W |
1.231 .Eur |
0,01 |
|
FUMAGALLI
LUIGI |
|
FMGLGU12M22A794S |
1.560 .Eur |
0,02 |
|
FUMAGALLI
MARIA |
|
FMGMRA80D61A794X |
3 .Eur |
|
|
FUMAGALLI
ROBERTO |
|
FMGRRT41S18L949B |
520 .Eur |
0,01 |
|
GABRI
ROBERTO |
|
GBRRRT44P30C933R |
624 .Eur |
0,01 |
|
GALLI
ANTONIO |
|
GLLNTN90M04F240D |
16 .Eur |
|
|
GANO
INVESTMENT TRUST |
|
|
|
|
|
GEROSA
ANTONIO |
|
GRSNTN13H26E507Z |
498 .Eur |
0,01 |
|
GEROSA
GIOVANBATTISTA |
|
GRSGNB04T08E507N |
143 .Eur |
|
|
GESTIONI
LATINE MOBILIARI S.A |
|
|
22 .Eur |
|
|
GHISLANZONI
PAOLO |
|
GHSPLA90P20A794L |
1 .Eur |
|
|
GILBERTI
ALDO |
|
GLBLDA00C16D150X |
10 .Eur |
|
|
GIORDANO
MARIO LUIGI |
|
GRDMLG65C28A182Q |
1.040 .Eur |
0,01 |
|
GOISIS
FRANCESCO |
|
GSSFNC28A05A794E |
54 .Eur |
|
|
GOISIS
VITTORIO |
|
GSSVTR69E14A794T |
13 .Eur |
|
|
LEALI
ADONE |
|
LLEDNA25M15D150U |
74 .Eur |
|
|
LEALI
LIALIANA |
|
LLELLN22S48F205N |
20 .Eur |
|
|
LEALI
LILIANA TERESA |
|
LLELNT40T70D946S |
156 .Eur |
|
|
LEALI
RENATO |
|
LLERNT56D07F205Q |
52 .Eur |
|
|
LESMA
ALESSANDRO |
|
LSMLSN52M13D286S |
260 .Eur |
|
DIRECT PARTICIPATIONS
The Company
under review has no participations in other Companies.
STRUCTURE AND COMPANY ACTIVITY
In order
to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
in : |
|
|
|
|
|
Piazza
|
FONTANA
|
, 6 |
-
20100 - |
MILANO
|
(MI) |
- IT - |
|
- |
Branch
|
(office
) |
since
20/09/1993 |
in : |
|
|
|
|
|
Via |
SICILIA
|
, 97 |
-
20052 - |
MONZA |
(MI) |
- IT - |
|
- |
Branch
|
|
since
01/04/1998 |
in : |
|
|
|
|
|
Via |
FOSSE
ARDEATINE |
, 4 |
-
20092 - |
CINISELLO
BALSAMO |
(MI) |
- IT - |
|
- |
Branch
|
(Office
with warehouse ) |
since
01/07/1995 |
in : |
|
|
|
|
|
Via |
BUONAROTTI
|
, 38 |
-
33010 - |
TAVAGNACCO
|
(UD) |
- IT - |
|
- |
Branch
|
(Office
with warehouse ) |
since
21/11/1966 |
in : |
|
|
|
|
|
Via |
S.
VITALINO |
, 38 |
-
40012 - |
CALDERARA
DI RENO |
(BO) |
- IT - |
|
- |
Branch
|
(Office
with warehouse ) |
since
26/02/1985 |
in : |
|
|
|
|
|
Via |
AVOGADRO
|
, 5 |
-
39100 - |
BOLZANO
|
(BZ) |
- IT - |
|
- |
Branch
|
(Office
with warehouse ) |
since
26/02/1985 |
in : |
|
|
|
|
|
Via |
DELLE
INDUSTRIE |
, 71 |
-
30020 - |
MARCON
|
(VE) |
- IT - |
|
|
|
|
Employees
|
: 135 |
|
|
|
|
Fittings
and Equipment |
for a value of 5.672.500 |
Eur |
|
|
|
|
Stocks
|
for a value of 21.500.000 |
Eur |
|
|
The firm
operates abroad as importer / exporter. .
To purchase
foreign products the firm uses the following channels :
|
-
direct orders to foreign companies |
Export
represents up to 20% of the global turnover.
Products
abroad are placed by :
|
-
direct orders from foreign companies |
HISTORICAL INFORMATION
|
Company Style modifications |
|
Former Style |
New Style |
Changement Date |
|
Nazionale
Ferro Metalli Carboni SpA |
|
01/01/1985 |
|
Merged Companies |
|
The
firm absorved |
|
FERROMETALLI
- SAFEM COMMERCIALE S.P.A. |
|
Via |
FRA'
GIOVANNI EREMITANO |
, 12 |
,
35100 |
,
Padova |
(PD) |
- IT - |
|
Fiscal
Code: 06093120159 |
|
Date |
: |
15/12/2004 |
PAYMENTS ANALYSIS
The
average term of debts to suppliers is higher than the sector one.
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
The firm
operates with the main Banks.
IMMOVABLES *
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
|
Immovable Type |
Value |
|
Real
estates |
3.483.496 .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 1906.
In 2004 the
firm achieved a profit with a r.o.e. del 19,08%.
The
operating result is positive (8,27%). and reflects the field's average.
Company's
financial status is balanced since indebtedness is not high (2,18)
Moderate
recourse to bank credit while the exposure towards suppliers is rather high
even in comparison with the sector's.
The
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 |
141.616.121 |
filed
balance sheet |
|
Profit
(Loss) for the period |
4.602.307 |
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 ) |
|
|
|
9.827.304 |
|
.
Intangible assets |
|
|
|
6.439 |
|
.
Tangible fixed assets |
|
|
|
9.491.752 |
|
. .
Land and buildings |
|
|
|
3.483.496 |
|
. .
Plants, Equipm.and Machinery |
|
|
|
5.672.459 |
|
.
Long-term Investments |
|
|
|
329.113 |
|
. .
Financial loans |
|
|
|
9.234 |
|
. .
Own shares |
|
|
|
319.879 |
|
CURRENT
ASSETS |
|
|
|
69.617.685 |
|
.
Stock |
|
|
|
21.499.859 |
|
.
Credits |
|
|
|
47.641.460 |
|
. .
Credits to clients |
|
|
|
47.172.102 |
|
. .
Other credits |
|
|
|
469.358 |
|
.
Short-term financial assets |
|
|
|
|
|
.
Liquid assets |
|
|
|
476.366 |
|
ACCRUED
INCOME-DEFERR. ASSETS |
|
|
|
12.848 |
|
TOTAL
ASSETS |
|
|
|
79.457.837 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET
WORTH |
|
|
|
24.110.671 |
|
.
Company's capital |
|
|
|
8.230.976 |
|
.
Reserves |
|
|
|
10.560.422 |
|
.
Reserves company's own shares |
|
|
|
319.879 |
|
.
Retained profits (losses) |
|
|
|
397.087 |
|
.
Profit (loss) |
|
|
|
4.602.307 |
|
PROVISION
CHARGES ACCOUNTS |
|
|
|
292.134 |
|
STAFF
TERM INDEMNITY |
|
|
|
1.960.066 |
|
DEBTS |
|
|
|
53.075.480 |
|
.
Financial M/L terms |
|
|
|
|
|
. .
Financial M/L term banks |
|
|
|
|
|
. .
Financial M/L bonds |
|
|
|
|
|
. . Other
financial M/L debts |
|
|
|
|
|
.
Financial short-term debts |
|
|
|
877.732 |
|
. .
Financial short-term banks |
|
|
|
2.732 |
|
. .
Financial short-term bonds |
|
|
|
|
|
. .
Other financial short-term debts |
|
|
|
875.000 |
|
. M/L term
debts to suppliers |
|
|
|
|
|
.
Short-term debts to suppliers |
|
|
|
48.697.288 |
|
.
Sundry M/L debts |
|
|
|
|
|
.
Sundry short-term debts |
|
|
|
3.500.460 |
|
ACCRUED
COSTS DEFERR. LIABILITIES |
|
|
|
19.486 |
|
TOTAL
LIABILITIES |
|
|
|
79.457.837 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
OUTPUT
VALUE |
|
|
|
142.890.200 |
|
.
Revenues from sales/services |
|
|
|
141.616.121 |
|
.
Change of stock (products) |
|
|
|
77.229 |
|
OPERATING
EXPENSES |
|
|
|
136.315.551 |
|
.
Purchasing expenses |
|
|
|
122.036.294 |
|
.
Change of stock (raw material) |
|
|
|
-4.987.229 |
|
.
Expenses from services |
|
|
|
7.772.324 |
|
.
Expenses from leasing |
|
|
|
331.158 |
|
.
General expenses/sundry charges |
|
|
|
1.128.931 |
|
.
Staff expenses |
|
|
|
6.648.409 |
|
.
Depreciation/Devaluation costs |
|
|
|
3.385.664 |
|
FINANCIAL
REVENUES (CHARGES) |
|
|
|
-503.659 |
|
.
Financial charges |
|
|
|
-577.116 |
|
.
Financial revenues |
|
|
|
73.457 |
|
FINANCIAL
ASSETS CORRECTION |
|
|
|
-54.064 |
|
EXTRAORDINARY
FINANCIAL REVENUES (CHARGES) |
|
|
|
-91.097 |
|
PROFIT
(LOSS) FOR THE PERIOD |
|
|
|
5.925.829 |
|
TAX |
|
|
|
1.323.522 |
|
CORRECT./ALLOCAT.FISCAL
RULE |
|
|
|
|
|
NET PROFIT
(LOSS) |
|
|
|
4.602.307 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2004 |
Sector Average |
|
Fixed
assets ratio |
Units |
=>
1 |
l |
2,65 |
1,79 |
|
Net Short-term
indebtedness |
Units |
- 1 |
l |
2,18 |
4,75 |
|
Current
ratio |
Units |
=>
1 |
l |
1,31 |
1,10 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
=>
1 |
l |
0,90 |
0,89 |
|
Return
on Sales |
% |
|
l |
5,64 |
1,96 |
|
Average
stock waiting period |
dd |
|
l |
54,64 |
32,07 |
|
Credits
to clients average term |
dd |
|
l |
119,88 |
122,07 |
|
Debts
to suppliers average term |
dd |
|
l |
134,67 |
108,14 |
|
Net
financial revenues/ charges incidence |
% |
|
l |
- 0,35 |
- 0,94 |
|
Labour
cost incidence |
% |
|
l |
4,69 |
5,52 |
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 81%, in respect of a sector average of 45%.
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:
421.400 .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 168 significant companies.
The
companies cash their credits on an average of 122 dd.
The
average duration of suppliers debts is about 108 dd.
The
sector's profitability is on an average of 1,96%.
The
labour cost affects the turnover in the measure of 5,52%.
Goods
are held in stock in a range of 32 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,63.
The
employees costs represent the 5,51% 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 |