MIRA
INFORM REPORT
|
Report Date : |
22nd
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ISOCOLD S.R.L. |
|
|
|
|
Registered Office : |
Zona Industriale Via Ai Vodi, 46
38015 - Lavis (TN) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31/12/2004 |
|
|
|
|
Date of Incorporation : |
16/07/1985 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Engaged
in the business of : Installation
and/or assembly of ventilation and refrigerating systems. Installation
of thermo-acoustic insulating 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
ISOCOLD S.R.L.
Zona Industriale Via Ai Vodi, 46
38015 - Lavis (TN) -IT-
SUMMARY
|
Fiscal Code |
: |
01089490229 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
16/07/1985 |
|
Patrimonial Consistence |
: |
1.000.000 Eur |
|
Turnover Range |
: |
5.000.000/6.500.000 Eur |
|
Number of Employees |
: |
from
16 to 25 |
CREDIT ANALYSIS
|
|
|
Financial situation is not at its best,
but credit is possible with |
|
|
|
no particular risks. |
|
|
|
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.
Installation
of thermo-acoustic insulating systems.
LEGAL DATA
Legal
Form : Limited liability company
|
Fiscal Code : 01089490229 |
|
Foreign Trade Reg. no. : 006254 of Trento
since 22/06/1993 |
|
Foreign Trade Reg. no. : M831917 of
Trento since 22/01/1988 |
|
Chamber of Commerce no. : 115079 of Trento
since 03/10/1985 |
|
Firms' Register : TN205-9926 since
19/02/1996 |
|
Court : 9926 of Trento |
|
Foundation Date |
: 16/07/1985 |
|
|
Establishment Date |
: 16/07/1985 |
|
|
Start of Activities |
: 16/07/1985 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
:
250.000 |
Eur |
|
Subscribed Capital |
:
250.000 |
Eur |
|
Paid up Capital |
:
250.000 |
Eur |
MEMBERS
|
GIOVANELLI FRANCESCO |
|
|
Born in TRENTO |
on 02/08/1968 |
- Fiscal Code : GVNFNC68M02L378R |
|
Residence : |
Localita' |
CERNIDOR |
, 5 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole Director |
27/12/2004 |
|
|
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.
|
GIOVANELLI FRANCESCO |
|
|
Company
Style |
Legal
Seat |
Fiscal
Code |
Position |
Firm
Status |
|
ISOCOLD SERVICE SRL IN LIQUIDAZIONE |
Lavis (TN) - IT - |
01435690225 |
Liquidator |
Ceased |
|
ISOLGAS S.R.L. |
Lavis (TN) - IT - |
01470310226 |
Sole Director |
Ceased |
|
I.GI. S.R.L. |
Trento (TN) - IT - |
01923780223 |
Sole Director |
Registered |
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 |
|
GIOVANELLI VITTORIO |
Albinea - IT - |
GVNVTR37S11G959G |
159.456
.Eur |
65,00
|
|
GIOVANELLI ALESSANDRO |
Albinea - IT - |
GVNLSN65T20L378R |
49.063
.Eur |
20,00
|
|
GIOVANELLI FRANCESCO |
Trento - IT - |
GVNFNC68M02L378R |
36.797
.Eur |
15,00
|
DIRECT PARTICIPATIONS
|
Company
Style |
Legal
Seat |
Fiscal
Code |
Owned
Shares |
%
of Ownership |
|
Enas Coldin S.r.l. |
San Giorgio in Bosco (PD) - IT - |
02181240280 |
9.296
.Eur |
90,00
|
STRUCTURE AND COMPANY ACTIVITY
In order
to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
(Factory ) |
since 20/03/1987 |
in : |
|
|
|
|
|
Zona Industriale |
Via Ai Vodi |
, 46 |
- 38015 - |
Lavis |
(TN) |
- IT - |
|
|
|
|
|
Trading Style: Isocold |
|
|
|
|
PHONE |
no. 0461/246655 |
|
|
|
|
Employees |
: 16 |
|
|
|
|
Assistants |
: 1 |
|
|
|
|
Fittings and Equipment |
for
a value of 558.000 |
Eur |
|
|
|
|
Stocks |
for
a value of 1.886.500 |
Eur |
|
|
|
|
Furniture and fittings |
for
a value of 46.481 |
Eur |
|
|
|
|
Vehicles |
for
a value of 77.468 |
Eur |
Trade organization:
direct or by agents.
Sales
are mainly addressed to Northern Italy
The
company 's mainly customers are companies.
|
|
Import
comes generally from the following nations:
|
- Austria |
|
- Germania |
HISTORICAL INFORMATION
|
Ex-Members / Ex-Positions |
|
Ghinelli |
Alberto |
|
Born in Milano |
on 01/10/1956 |
- Fiscal Code : GHNLRT56R01F205A |
|
Residence : |
Localita' |
Mantovani |
- 38050 |
Sant'Orsola |
(TN) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Munerati |
Umberto |
|
Born in TRENTO |
on 28/09/1923 |
- Fiscal Code : MNRMRT23P28L378Y |
|
Residence : |
Via |
LUNGADIGE MARCO APULEIO |
, 46 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
|
Chairman of the Board of Aud. |
|
Hager Luigi |
|
|
Born in Riva del Garda |
on 13/05/1938 |
- Fiscal Code : HGRLGU38E13H330X |
|
Fiscal residence : |
Via |
Matteotti |
, 20/5 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
|
Chairman |
|
Bailoni Carlo |
|
|
Born in Trento |
on 31/01/1954 |
- Fiscal Code : BLNCRL54A31L378N |
|
Fiscal residence : |
Via |
Del Ponte |
, 9 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
|
Managing Director |
|
Venzo Giuliano |
|
|
Born in Trento |
on 08/07/1942 |
- Fiscal Code : VNZGLN42L08L378R |
|
Fiscal residence : |
Via |
Mariani |
, 1 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
|
Chairman |
|
Mancosu |
Sandro |
|
Born in Trento |
on 24/03/1968 |
- Fiscal Code : MNCSDR68C24L378F |
|
Residence : |
Via |
Paludi |
, 23 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
|
Sole Director |
|
Di Gerardo |
Carmine |
|
Born in MILANO |
on 02/11/1938 |
- Fiscal Code : DGRCMN38S02F205F |
|
Residence : |
Localita' |
MANTOVANI |
, 3/4 |
- 38050 |
Sant'Orsola |
(TN) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Banal |
Fabio |
|
Born in ROVERETO |
on 05/01/1932 |
- Fiscal Code : BNLFBA32A05H612V |
|
Residence : |
Via |
L. DE CAMPI |
, 8 |
- 38100 |
Trento |
(TN) |
- IT - |
|
Position |
|
Temporary Auditor |
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
|
Bank
Name |
Agency
Name |
Address |
ZIP
Code |
City |
ABI
Code |
CAB
Code |
|
UNICREDIT BANCA |
|
|
|
|
6330 |
0 |
IMMOVABLES *
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
|
Immovable
Type |
Value |
|
Real estates |
243.923
.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 1985
the
financial period 2004 closed with a profit (r.o.e. del 7,58%).
The
operating result is positive (3,6%). falling within the field's average.
The
financial position is not well balanced as the volume of debts is fairly
remarkable if compared to shareholder's equity, in fact total debts are 4,92
The
recourse to financial credit is within the limits; on the other hand the
recourse to suppliers' credit is rated as fairly high besides being higher than
sector's average.
Liquidity
is however good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at
|
31/12/2004 |
(in Eur |
x 1 ) |
|
Item
Type |
Amount |
Source |
|
Sales |
6.348.752 |
filed balance sheet |
|
Profit (Loss) for the period |
66.382 |
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 ) |
|
|
|
864.481 |
|
. Intangible assets |
|
|
|
14.425 |
|
. Tangible fixed assets |
|
|
|
825.344 |
|
. . Land and buildings |
|
|
|
243.923 |
|
. . Plants, Equipm.and Machinery |
|
|
|
557.903 |
|
. Long-term Investments |
|
|
|
24.712 |
|
. . Financial loans |
|
|
|
24.712 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
4.969.424 |
|
. Stock |
|
|
|
1.886.326 |
|
. Credits |
|
|
|
2.125.546 |
|
. . Credits to clients |
|
|
|
1.940.407 |
|
. . Other credits |
|
|
|
185.139 |
|
. Short-term financial assets |
|
|
|
937.895 |
|
. Liquid assets |
|
|
|
19.657 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
|
14.108 |
|
TOTAL ASSETS |
|
|
|
5.848.013 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
|
875.336 |
|
. Company's capital |
|
|
|
250.000 |
|
. Reserves |
|
|
|
558.954 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
|
66.382 |
|
PROVISION CHARGES ACCOUNTS |
|
|
|
66.477 |
|
STAFF TERM INDEMNITY |
|
|
|
258.200 |
|
DEBTS |
|
|
|
4.540.812 |
|
. Financial M/L terms |
|
|
|
206.583 |
|
. . Financial M/L term banks |
|
|
|
206.583 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
|
640.825 |
|
. . Financial short-term banks |
|
|
|
640.825 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
|
2.705.406 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
|
987.998 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
|
107.188 |
|
TOTAL LIABILITIES |
|
|
|
5.848.013 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
|
6.567.885 |
|
. Revenues from sales/services |
|
|
|
6.348.752 |
|
. Change of stock (products) |
|
|
|
125.673 |
|
OPERATING EXPENSES |
|
|
|
6.357.041 |
|
. Purchasing expenses |
|
|
|
3.938.309 |
|
. Change of stock (raw material) |
|
|
|
-190.380 |
|
. Expenses from services |
|
|
|
1.740.062 |
|
. Expenses from leasing |
|
|
|
16.214 |
|
. General expenses/sundry charges |
|
|
|
19.164 |
|
. Staff expenses |
|
|
|
676.405 |
|
. Depreciation/Devaluation costs |
|
|
|
157.267 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
|
29.007 |
|
. Financial charges |
|
|
|
-31.866 |
|
. Financial revenues |
|
|
|
60.873 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
13.477 |
|
EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
|
|
|
-93.180 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
|
160.148 |
|
TAX |
|
|
|
93.766 |
|
CORRECT./ALLOCAT.FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
|
66.382 |
|
RATIOS |
Item |
O.V. |
O.V. |
as
at 31/12/2004 |
Sector
Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,55 |
1,63 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
4,92 |
3,58 |
|
Current ratio |
Units |
=> 1 |
l |
1,14 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,71 |
0,85 |
|
Return on Sales |
% |
|
l |
3,52 |
3,53 |
|
Average stock waiting period |
dd |
|
l |
106,95 |
58,26 |
|
Credits to clients average term |
dd |
|
l |
110,01 |
127,13 |
|
Debts to suppliers average term |
dd |
|
l |
171,00 |
140,00 |
|
Net financial revenues/ charges incidence |
% |
|
l |
0,45 |
-
1,12 |
|
Labour cost incidence |
% |
|
l |
10,65 |
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)
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 41%, 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:
105.400 .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 |
: |
497.546 |
|
Population living in the region |
: |
974.613 |
|
Number of families in the region |
: |
383.892 |
Monthly
family expences average in the region (in Eur.) :
|
- per food products |
: |
373 |
|
- per non food products |
: |
2.001 |
|
- per energy consume |
: |
121 |
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 2.078 protested subjects are found; in the province they count to 850.
The
insolvency index for the region is 0,22, while for the province it is 0,17.
Total
Bankrupt companies in the province : 1.091.
Total
Bankrupt companies in the region : 2.539.
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 |