MIRA
INFORM REPORT
|
Report Date : |
15th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
MOSCONI S.P.A. |
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Registered Office : |
Viale Del Commercio ZAI, 7, 37100 – Verona (VR) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
25.11.1946 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture
and installation of plants and equipment for hides, skins and footwear
industry. |
RATING & COMMENTS
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MIRA’s Rating : |
Aaa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 : |
421.900 .Eur. |
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Status : |
Excellent
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name & Address
MOSCONI S.P.A.
Viale Del Commercio ZAI, 7
37100 - Verona (VR) -IT-
SUMMARY
Fiscal Code : 00212960231
Legal Form : Joint stock company
Foundation Date : 25/11/1946
Patrimonial Consistence : Over 2.500.000 Eur
Turnover Range : 9.000.000/10.000.000 Eur
Number of Employees : from 51 to 70
CREDIT
ANALYSIS
CREDIT OPINION : 421.900 - Eur
Score : 5. Risk low
Creditworthness Rate : 100% (Excellent)
Financial/patrimonial analysis very good - Credit with very low 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
Manufacture
and installation of plants and equipment for hides, skins and footwear
industry.
Repairing
of machines and equipment for hides, skins and footwear industry.
LEGAL
DATA
Legal
Form : Joint stock company
Fiscal Code : 00212960231
Foreign Trade Reg. no. : 8510 of Verona since 06/12/1991
Foreign Trade Reg. no. : 008510 of Verona since 06/12/1991
Chamber of Commerce no.
: 48379 of Verona since 04/12/1946
Firms' Register : VR091-2461 since 19/02/1996
Court : 2461 of Verona
Foundation Date : 25/11/1946
Establishment Date :
25/11/1946
Legal Duration Date :
31/12/2050
Nominal Capital : 1.000.000 Eur
Subscribed Capital :
1.000.000 Eur
Paid up Capital : 1.000.000 Eur
MEMBERS
Marconi Giancarlo
Born in BELFIORE on 22/02/1947 - Fiscal Code : MRCGCR47B22A737Y
Residence : Salita MONTE GRAPPA , 33 - 37100 Verona (VR) - IT -
Position Since Shares
Amount % Ownership
Director 30/04/2004
Board Chairman 30/04/2004
No
Protests registered.
VICENTINI GIOVANNA
Born in VERONA on 01/11/1954 - Fiscal Code : VCNGNN54S41L781K
Residence : Salita MONTE GRAPPA , 33 - 37100 Verona (VR) - IT -
Position Since Shares
Amount % Ownership
Director 30/04/2004
Assistant board Chairman 30/04/2004
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.
Marconi Giancarlo
Company Style Legal Seat Fiscal Code Position Firm Status
MIKI - S.R.L. Verona
(VR) - IT - 02111430233 Liquidator Ceased
VICENTINI GIOVANNA
Company Style Legal Seat Fiscal Code Position Firm Status
DUMAVI S.R.L. Verona (VR) -
IT - 03514510233 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
VICENTINI GIOVANNA Verona - IT - VCNGNN54S41L781K 587.180 .Eur 58,72
MARCONI MICHELE MRCMHL83S04L781D 412.820 .Eur 41,28
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 (Factory
) in :
Viale Del Commercio Zai , 7 - 37100 - Verona (VR) - IT -
PHONE : 045/8200490
PHONE : 045/8200491
Employees : 60
Assistants : 1
Fittings and Equipment for a
value of 249.000 Eur
Stocks for a value of
1.434.500 Eur
Furniture and fittings for a
value of 59.392 Eur
Vehicles for a value of
64.557 Eur
Trade
organization: direct or by agents.
The
subject works in Italy and abroad
The firm
operates abroad as importer / exporter. .
To
purchase foreign products the firm uses the following channels :
- direct orders
to foreign companies
Export
represents more than 50% of the global turnover.
Products
abroad are placed by :
- trading
companies
- its own agents
- direct orders
from foreign companies
Import
comes generally from the following nations:
- Francia
- Germania
Export
is mainly towards:
- Irlanda
- Grecia
- Somalia
- Congo Est
HISTORICAL
INFORMATION AND/OR FIRM'S STATUS
Ex-Members / Ex-Positions
Marconi Giancarlo
Born in BELFIORE on 22/02/1947 - Fiscal Code : MRCGCR47B22A737Y
Residence : Salita MONTE GRAPPA , 33 - 37100 Verona (VR) - IT -
Position
Sole Director
MARCONI GIANCARLO
Born in BELFIORE on 22/02/1947 - Fiscal Code : MRCGCR47B22A737Y
Residence : Salita MONTE GRAPPA , 33 - 37100 Verona (VR) - IT -
Position
Director
Board Chairman
PAYMENTS
ANALYSIS
The
average term of debts to suppliers is shorter than the sector
one.
PAYMENTS
SCORE : ZZZZZ - No insolvency
CREDIT
REVOLVING
The
subject of inquiry has been monitored by our company:
During
the last Month : n. 1 times.
During
the last 6 Months : n. 1 times.
During
the last 12 Months : n. 2 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
Banca Popolare Verona
IMMOVABLES
*
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
Immovable Type Value
Real estates 2.013.226 .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 1946.
During
the last years, it achieved profits (r.o.e. 5,42% on 2005) keeping the turnover
steady during the last two years.
The
operating result in 2005 was positive (6,17%) and in line with the sector's
average.
From a
financial aspect the company's status covers total short-term debts; the
indebtedness volume in 2005 is in fact 0,24 lower than in 2004.
The
company does not exceed in bank credits; payments average period is instead
slightly high (124,27 gg.) even if it is lower than the sector's average.
It shows
a good range of liquidity.
FINANCIAL
DATA
Complete balance-sheet for the year as at 31/12/2005 (in Eur x 1 )
Item Type Amount Source
Sales 9.905.739 filed
balance sheet
Profit (Loss) for the period 220.216 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
Item Type Amount Source
Sales 10.281.819 filed
balance sheet
Profit (Loss) for the period 257.485 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2003 (in Eur x 1 )
Item Type Amount Source
Sales 8.591.858 filed
balance sheet
Profit (Loss) for the period 45.260 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
Balance Sheet as at 31/12/2004 - Months 12 - Currency Eur - Amounts
x 1
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Years |
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2005 |
2004 |
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BALANCE SHEET ACCOUNTS |
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ASSETS |
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CREDITS TO SHAREHOLDERS |
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FIXED ASSETS ( NET ) |
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2.423.682 |
2.649.702 |
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. Intangible assets |
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18.105 |
18.200 |
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. Tangible fixed assets |
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2.404.173 |
2.630.098 |
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. . Land and buildings |
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2.013.226 |
2.098.293 |
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. . Plants, Equipm.and Machinery |
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248.851 |
341.768 |
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. Long-term Investments |
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1.404 |
1.404 |
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. . Financial loans |
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1.404 |
1.404 |
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. . Own shares |
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CURRENT ASSETS |
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6.375.531 |
6.456.626 |
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. Stock |
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1.434.276 |
1.530.656 |
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. Credits |
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2.413.393 |
2.813.057 |
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. . Credits to clients |
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2.339.889 |
2.731.093 |
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. . Other credits |
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73.504 |
81.964 |
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. Short-term financial assets |
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850.763 |
1.033.934 |
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. Liquid assets |
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1.677.099 |
1.078.979 |
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ACCRUED INCOME-DEFERR. ASSETS |
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111.568 |
136.119 |
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TOTAL ASSETS |
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8.910.781 |
9.242.447 |
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. |
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LIABILITIES |
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NET WORTH |
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4.062.648 |
4.042.432 |
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. Company's capital |
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1.000.000 |
1.000.000 |
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. Reserves |
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2.842.432 |
2.784.947 |
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. Reserves company's own shares |
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. Retained profits (losses) |
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. Profit (loss) |
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220.216 |
257.485 |
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PROVISION CHARGES ACCOUNTS |
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46.747 |
16.716 |
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STAFF TERM INDEMNITY |
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669.137 |
648.724 |
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DEBTS |
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3.896.744 |
4.287.068 |
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. Financial M/L terms |
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973.518 |
798.802 |
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. . Financial M/L term banks |
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973.518 |
798.802 |
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. . Financial M/L bonds |
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. . Other financial M/L debts |
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. Financial short-term debts |
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186.982 |
173.802 |
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. . Financial short-term banks |
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186.982 |
173.802 |
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. . Financial short-term bonds |
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. . Other financial short-term debts |
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. M/L term debts to suppliers |
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243.276 |
487.930 |
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. Short-term debts to suppliers |
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1.922.612 |
2.060.941 |
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. Sundry M/L debts |
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. Sundry short-term debts |
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570.356 |
765.593 |
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ACCRUED COSTS DEFERR. LIABILITIES |
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235.505 |
247.507 |
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TOTAL LIABILITIES |
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8.910.781 |
9.242.447 |
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. |
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PROFIT AND LOSS ACCOUNTS |
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OUTPUT VALUE |
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10.164.719 |
10.368.513 |
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. Revenues from sales/services |
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9.905.739 |
10.281.819 |
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. Change of stock (products) |
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91.305 |
-45.678 |
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OPERATING EXPENSES |
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9.614.257 |
9.601.238 |
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. Purchasing expenses |
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4.252.650 |
4.312.632 |
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. Change of stock (raw material) |
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139.800 |
23.610 |
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. Expenses from services |
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1.974.926 |
2.096.586 |
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. Expenses from leasing |
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45.451 |
3.910 |
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. General expenses/sundry charges |
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61.975 |
63.921 |
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. Staff expenses |
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2.752.967 |
2.652.784 |
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. Depreciation/Devaluation costs |
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386.488 |
447.795 |
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FINANCIAL REVENUES (CHARGES) |
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27.867 |
-95.510 |
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. Financial charges |
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-38.447 |
-185.663 |
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. Financial revenues |
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66.314 |
90.153 |
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FINANCIAL ASSETS CORRECTION |
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EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
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49.799 |
-15.101 |
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PROFIT (LOSS) FOR THE PERIOD |
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628.128 |
656.664 |
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TAX |
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407.912 |
399.179 |
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CORRECT./ALLOCAT. FISCAL RULE |
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NET PROFIT (LOSS) |
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220.216 |
257.485 |
RATIOS
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Item |
O.V. |
O.V. |
as
at 31/12/2005 |
as
at 31/12/2004 |
Sector
Average |
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Fixed assets ratio |
Units |
=> 1 |
l |
2,45 |
2,25 |
2,05 |
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Net Short-term indebtedness |
Units |
- 1 |
l |
0,24 |
0,47 |
2,80 |
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Current ratio |
Units |
=> 1 |
l |
2,37 |
2,15 |
1,32 |
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Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,84 |
1,64 |
0,91 |
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Return on Sales |
% |
|
l |
6,12 |
6,85 |
2,93 |
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Average stock waiting period |
dd |
|
l |
52,09 |
53,56 |
70,61 |
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Credits to clients average term |
dd |
|
l |
85,03 |
95,61 |
126,05 |
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Debts to suppliers average term |
dd |
|
l |
124,27 |
143,06 |
160,00 |
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Net financial revenues/ charges incidence |
% |
|
l |
0,28 |
-
0,92 |
-
1,19 |
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Labour cost incidence |
% |
|
l |
27,79 |
25,80 |
20,98 |
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.
Classification of companies in the same
sector by risk score :
Score Risk level % Firms
1 very high 4%
2 high 0 %
3 slightly high 14%
4 normal 23%
5 low 59%
The
company under review falls within the range of low risk.
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 53%.
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:
421.900 .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.
SOURCES
- Our
historical data
- Public
Administration
-
Reporters
-
Newspapers
- Users
-
Statistics Bodies
-
Financial Project Editions
N.B.: Data from the Public Administration present in the report are
updated since the last available edition.
MARKET
/ TERRITORY DATA
Population living in the province : 860.796
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 479 significant companies.
The
companies cash their credits on an average of 126 dd.
The
average duration of suppliers debts is about 160 dd.
The
sector's profitability is on an average of 2,93%.
The
labour cost affects the turnover in the measure of 20,98%.
Goods
are held in stock in a range of 70 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,12.
The
employees costs represent the 20,96% of the production costs.
STATISTICAL
DETRIMENTAL DATA
Statistically
the trade activity passes through serious crises.
The area
is statistically considered lowly risky.
In the
region 13.782 protested subjects are found; in the province they count to
2.673.
The
insolvency index for the region is 0,30, while for the province it is 0,31.
Total
Bankrupt companies in the province : 2.982.
Total
Bankrupt companies in the region : 16.714.
RATING EXPLANATIONS
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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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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