MIRA
INFORM REPORT
|
Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SAMA S.P.A |
|
|
|
|
Registered Office : |
Via Altamura Saverio,18 20100-Milana(MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Date of Incorporation : |
18.01.1977 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of various clothes |
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 |
|
Maximum Credit Limit : |
197.300-Eur |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Name and address
|
Sama S.p.a. |
|
Via |
Altamura Saverio, |
18 |
|
20100 |
- Milano |
(MI) |
-IT- |
SUMMARY
|
Fiscal Code |
: |
03364700157 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
18/01/1977 |
|
Patrimonial Consistence |
: |
1.000.000 Eur |
|
Turnover Range |
: |
3.750.000/5.000.000 Eur |
|
Number of Employees |
: |
from 11 to 15 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
197.300 - Eur |
|
Score |
: |
4. Risk normal |
|
Creditworthness Rate |
: |
(Good) |
|
Eurorating |
: |
Under the financial aspect a certain balance is reported which leads |
|
|
|
to a credit with a very limited risk. |
|
|
|
|
ACTIVITY
Manufacture of various clothes.
LEGAL DATA
Legal Form : Joint stock company
|
Fiscal Code : 03364700157 |
|
Foreign Trade Reg. no. : MI112595 since 24/01/1992 |
|
Foreign Trade Reg. no. : 112595 of Milano since 24/01/1992 |
|
Chamber of Commerce no. : 957454 of Milano since 09/03/1977 |
|
Firms' Register : MI146-173575 |
|
V.A.T. Code : 03364700157 |
|
Court : 132966 of Milano |
|
Foundation Date |
: 18/01/1977 |
|
|
Establishment Date |
: 18/01/1977 |
|
|
Start of Activities |
: 18/01/1977 |
|
|
Legal Duration Date |
: 31/12/2040 |
|
|
Nominal Capital |
: 702.000 |
Eur |
|
Subscribed Capital |
: 702.000 |
Eur |
|
Paid up Capital |
: 702.000 |
Eur |
MEMBERS
|
Massa |
Donato |
|
Born in Spinazzola |
(BA) |
on 24/04/1951 |
- Fiscal Code : MSSDNT51D24I907M |
|
Residence : |
Via |
Tommaseo |
, 8 |
- 20090 |
Cesano Boscone |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2006 |
|
|
|
Managing Director |
29/05/2006 |
|
|
No Protests registered.
|
Marchesi |
Alberto |
|
Born in Milano |
(MI) |
on 11/02/1930 |
- Fiscal Code : MRCLRT30B11F205F |
|
Residence : |
Via |
Altamura |
, 18 |
- 20100 |
Milano |
(MI) |
- IT - |
|
POSITION |
Since |
Shares Amount |
% Ownership |
|
Director |
31/12/2008 |
|
|
|
Board Chairman |
29/05/2006 |
|
|
No Protests registered.
|
Grunberger |
Erico |
|
Born in Milano |
(MI) |
on 23/09/1947 |
- Fiscal Code : GRNRCE47P23F205Z |
|
Residence : |
Via |
Bergognone |
, 27 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2006 |
|
|
|
Managing Director |
29/05/2006 |
|
|
No Protests registered.
|
Marchesi |
Marina |
|
Born in Milano |
(MI) |
on 06/11/1953 |
- Fiscal Code : MRCMRN53S46F205N |
|
Residence : |
Via |
Altamura Saverio |
, 18 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
SINCE |
Shares Amount |
% Ownership |
|
Procurator |
08/07/1977 |
|
|
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.
|
MASSA |
|
|
MARCHESI |
|
|
GRUNBERGER |
|
|
MARCHESI |
|
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 |
|
Marchesi Alberto |
Milano - IT - |
MRCLRT30B11F205F |
70.200 .Eur |
10,00 |
|
Grunberger Erico |
Milano - IT - |
GRNRCE47P23F205Z |
210.600 .Eur |
30,00 |
|
Altieri Teresa |
|
LTRTRS30S59L883K |
105.300 .Eur |
15,00 |
|
Marchesi Adele |
|
MRCDLA57E61F205B |
105.300 .Eur |
15,00 |
|
Marchesi LIliana |
Milano - IT - |
MRCLLN61D41F205O |
105.300 .Eur |
15,00 |
|
Marchesi Marina |
Milano - IT - |
MRCMRN53S46F205N |
105.300 .Eur |
15,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Margola Europe S.r.l. |
Milano - IT - |
10487290156 |
16.268 .Eur |
35,00 |
STRUCTURE AND COMPANY
ACTIVITY
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Via |
Altamura Saverio |
, 18 |
- 20100 - |
Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/25390112 |
|
|
|
|
PHONE |
: 039/6816031 |
|
- |
Office not registered |
|
in : |
|
|
|
|
|
Via |
Regone - Villa Giampaolo |
, Sn |
- 20057 - |
Vedano Al Lambro |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 0371/29051 |
|
|
|
|
FAX |
: 0371/898694 |
|
|
|
|
Employees |
: 13 |
|
|
|
|
Fittings and Equipment |
for a value of 499.000 |
Eur |
|
|
|
|
Stocks |
for a value of 1.473.000 |
Eur |
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- national or foreign important buyers |
|
- importers |
|
- its own sales net-work |
|
- its own agents |
|
- its own foreign branches |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Austria |
|
- Francia |
|
- Grecia |
|
- Irlanda |
|
- Islanda |
|
- Ungheria |
|
- Cipro |
|
- Rep.di Guinea |
HISTORICAL
INFORMATION AND/OR FIRM'S STATUS
|
Ex-Members / Ex-Positions |
|
Marchesi |
Alberto |
|
Born in Milano |
on 11/02/1930 |
- Fiscal Code : MRCLRT30B11F205F |
|
Residence : |
Via |
Altamura |
, 18 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Chairman |
|
Marchesi |
Marina |
|
Born in Vigevano |
on 07/04/1953 |
- Fiscal Code : MRCMRN53D47L872D |
|
Position |
|
Procurator |
|
Grunberger |
Erico |
|
Born in Milano |
on 23/09/1947 |
- Fiscal Code : GRNRCE47P23F205Z |
|
Residence : |
Via |
Bergognone |
, 27 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Managing Director |
|
Troni |
Ettore |
|
Born in Milano |
on 01/06/1942 |
- Fiscal Code : TRNTTR42H01L131N |
|
Residence : |
Via |
Freguglia Carlo |
, 2 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Former seats |
|
- |
Branch |
(Administrative office ) |
since 16/09/1983 |
|
|
|
|
|
Via |
S. Maria |
- 20093 |
- Cologno Monzese |
(MI) |
- IT - |
|
- |
Branch |
|
since 18/01/1977 |
|
|
|
|
|
Via |
Cimabue |
- 20032 |
- Cormano |
(MI) |
- IT - |
|
- |
Branch |
(Warehouse ) |
|
|
|
|
|
Via |
Pistoiese |
- 50100 |
- Firenze |
(FI) |
- IT - |
|
- |
Branch |
|
since 22/04/1977 |
|
|
|
|
|
Via |
Privata Lettieri |
- 80017 |
- Melito di Napoli |
(NA) |
- IT - |
|
. |
PAYMENTS ANALYSIS
The average term of debts to suppliers is shorter than the sector one.
PAYMENTS SCORE : ZZZZZ - 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 |
IMMOVABLES
No specific (mortgage/cadastrial registrations) inspections have been requested.
|
Immovable Type |
Value |
|
Real estates |
476.173 .Eur |
NB.: For Capital Companies the value of the Immovables is the one reported in the last available financial documents.
FINANCIAL AND
ECONOMICAL ANALYSIS
The company is active since 1977
A positive economic result was achieved with a r.o.e. 5,87%.
R.o.i. is positive (10,47%). and in line with the sector's average.
Company's financial status is balanced since indebtedness is not high (2,01)
Both financial indebtedness and suppliers exposure are rather high but lower than the field average.
Liquidity is good (1,29)
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
4.456.674 |
filed balance sheet |
|
Profit (Loss) for the period |
58.465 |
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 ) |
|
|
|
715.208 |
|
. Intangible assets |
|
|
|
116.276 |
|
. Tangible fixed assets |
|
|
|
571.356 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
|
|
|
498.769 |
|
. Long-term Investments |
|
|
|
27.576 |
|
. . Financial loans |
|
|
|
27.576 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
2.602.912 |
|
. Stock |
|
|
|
1.473.220 |
|
. Credits |
|
|
|
1.126.067 |
|
. . Credits to clients |
|
|
|
916.899 |
|
. . Other credits |
|
|
|
209.168 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
|
3.625 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
|
116.404 |
|
TOTAL ASSETS |
|
|
|
3.434.524 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
|
994.636 |
|
. Company's capital |
|
|
|
702.000 |
|
. Reserves |
|
|
|
45.551 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
188.620 |
|
. Profit (loss) |
|
|
|
58.465 |
|
PROVISION CHARGES ACCOUNTS |
|
|
|
|
|
STAFF TERM INDEMNITY |
|
|
|
178.932 |
|
DEBTS |
|
|
|
2.260.956 |
|
. Financial M/L terms |
|
|
|
250.000 |
|
. . Financial M/L term banks |
|
|
|
250.000 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
|
1.014.254 |
|
. . Financial short-term banks |
|
|
|
1.014.254 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
|
816.548 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
|
180.154 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
|
|
|
TOTAL LIABILITIES |
|
|
|
3.434.524 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
|
4.265.858 |
|
. Revenues from sales/services |
|
|
|
4.456.674 |
|
. Change of stock (products) |
|
|
|
-259.565 |
|
OPERATING EXPENSES |
|
|
|
3.906.109 |
|
. Purchasing expenses |
|
|
|
2.389.080 |
|
. Change of stock (raw material) |
|
|
|
|
|
. Expenses from services |
|
|
|
649.124 |
|
. Expenses from leasing |
|
|
|
87.500 |
|
. General expenses/sundry charges |
|
|
|
103.060 |
|
. Staff expenses |
|
|
|
604.645 |
|
. Depreciation/Devaluation costs |
|
|
|
72.700 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
|
-196.998 |
|
. Financial charges |
|
|
|
-197.566 |
|
. Financial revenues |
|
|
|
568 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
|
|
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
|
162.751 |
|
TAX |
|
|
|
104.286 |
|
CORRECT./ALLOCAT.FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
|
58.465 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,99 |
2,09 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,01 |
3,74 |
|
Current ratio |
Units |
=> 1 |
l |
1,29 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,56 |
0,86 |
|
Return on Sales |
% |
|
l |
2,94 |
2,26 |
|
Average stock waiting period |
dd |
|
l |
118,98 |
62,53 |
|
Credits to clients average term |
dd |
|
l |
74,05 |
121,67 |
|
Debts to suppliers average term |
dd |
|
l |
94,03 |
140,00 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 4,42 |
- 1,30 |
|
Labour cost incidence |
% |
|
l |
13,56 |
12,37 |
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.
RELIABILITY SCORE
Considering also subject's structural and behavioural characteristics its credit margin rate (from 0 to 100%) is equal to 73%, in respect of a sector average of 33%.
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:
197.300 .Eur.
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)