MIRA
INFORM REPORT
|
Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SITIP S.P.A. |
|
|
|
|
Registered Office : |
Via Vall' Alta, 13 24020 - Cene (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
01/11/1959 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Finishing of warp-werf chemical fibres and knitted fabrics. |
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 |
|
Maximum Credit Limit : |
370.800 - Eur |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
SITIP S.P.A.
Via
Vall' Alta, 13
24020 - Cene (BG) -IT-
SUMMARY
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
01/11/1959 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
100.000.000/150.000.000 Eur |
|
Number of Employees |
: |
from 750 to 1000 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
370.800 - Eur |
ACTIVITY
Finishing of warp-werf chemical fibres and knitted fabrics.
LEGAL DATA
Legal Form : Joint stock company
|
Fiscal Code : 00228530168 |
|
Foreign Trade Reg. no. : 15660 of Bergamo since 08/01/1992 |
|
Foreign Trade Reg. no. : 015660 of Bergamo since 08/01/1992 |
|
Chamber of Commerce no. : 105522 of Bergamo since 03/10/1963 |
|
Chamber of Commerce no. : 264250 of Treviso |
|
Chamber of Commerce no. : 246595 of Varese |
|
Firms' Register : BG024-8425 since 19/02/1996 |
|
Court : 8425 of Bergamo |
|
Foundation Date |
: 01/11/1959 |
|
|
Establishment Date |
: 01/11/1959 |
|
|
Start of Activities |
: 01/11/1959 |
|
|
Legal Duration Date |
: 31/12/2030 |
|
|
Nominal Capital |
: 10.000.000 |
Eur |
|
Subscribed Capital |
: 10.000.000 |
Eur |
|
Paid up Capital |
: 10.000.000 |
Eur |
MEMBERS
|
Pezzoli |
Luigi |
|
Born in LEFFE |
(BG) |
on 15/07/1936 |
- Fiscal Code : PZZLGU36L15E509K |
|
Residence : |
Via |
VALL'ALTA |
, 19 |
- 24020 |
Cene |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/06/2006 |
|
|
|
Board Chairman |
30/06/2006 |
|
|
No Protests registered.
|
Cortinovis |
Elisabetta |
|
Born in CENE |
(BG) |
on 06/05/1943 |
- Fiscal Code : CRTLBT43E46C459N |
|
Residence : |
Via |
VALL'ALTA |
, 19 |
- 24020 |
Cene |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/06/2006 |
|
|
|
Procurator |
23/06/2000 |
|
|
|
Assistant board Chairman |
30/06/2006 |
|
|
No Protests registered.
|
Lampis |
Andrea |
|
Born in BERGAMO |
(BG) |
on 23/03/1966 |
- Fiscal Code : LMPNDR66C23A794W |
|
Residence : |
Via |
DON MAZZA |
, 8/C |
- 24020 |
Gorle |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
01/12/2000 |
|
|
No Protests registered.
|
Pezzoli |
Giancarlo |
|
Born in ALZANO LOMBARDO |
(BG) |
on 03/02/1967 |
- Fiscal Code : PZZGCR67B03A246C |
|
Residence : |
Piazza |
SAN GIORGIO |
, 30 |
- 24020 |
Fiorano Al Serio |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
23/06/2000 |
|
|
|
General Manager |
16/06/2000 |
|
|
No Protests registered.
|
Marconi |
Roberto |
|
Born in ALZANO LOMBARDO |
(BG) |
on 18/04/1967 |
- Fiscal Code : MRCRRT67D18A246B |
|
Residence : |
Via |
ACERBIS |
, 6 |
- 24022 |
Alzano Lombardo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
29/01/2001 |
|
|
No Protests registered.
|
Alibrandi |
Sergio |
|
Born in SEREGNO |
(MI) |
on 04/08/1958 |
- Fiscal Code : LBRSRG58M04I625B |
|
Residence : |
Via |
C.CORRENTI |
, 9 |
- 20038 |
Seregno |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
29/01/2001 |
|
|
No Protests registered.
|
PEZZOLI |
SILVANA |
|
Born in ALZANO LOMBARDO |
(BG) |
on 25/06/1969 |
- Fiscal Code : PZZSVN69H65A246U |
|
Residence : |
Via |
XX SETTEMBRE |
, 116 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/06/2006 |
|
|
|
Procurator |
12/06/2003 |
|
|
No Protests registered.
|
AGLIATI |
MARCO MARIO VITTORIO |
|
Born in MILANO |
(MI) |
on 30/09/1954 |
- Fiscal Code : GLTMCM54P30F205M |
|
Residence : |
Via |
PALMA JACOPO |
, 3 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/06/2006 |
|
|
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.
|
PEZZOLI |
|
|
CORTINOVIS |
|
|
LAMPIS |
|
|
PEZZOLI |
|
|
ALIBRANDI |
|
|
PEZZOLI |
|
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 |
|
Pezzoli Luigi |
Cene - IT - |
PZZLGU36L15E509K |
5.170.500 .Eur |
51,71 |
|
Cortinovis Elisabetta |
Cene - IT - |
CRTLBT43E46C459N |
2.158.200 .Eur |
21,58 |
|
TEXTINVEST S.A. |
|
90008640162 |
2.671.300 .Eur |
26,71 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
|
JOGGINTEX S.P.A. |
Milano - IT - |
08047320158 |
|
100,00 |
|
SITIP TRIESTE S.P.A. |
Trieste - IT - |
00737660324 |
|
100,00 |
|
ACCOPPIATURA DI ASOLO S.P.A. |
Asolo - IT - |
00721130268 |
38.737 .Eur |
37,50 |
|
SITIP COTTON S.P.A. |
CENE - IT - |
00662180165 |
|
|
|
SITRADE S.R.L. |
Bergamo - IT - |
01998030165 |
23.166 .Eur |
45,00 |
|
IMMOBILIARE SIL-GI S.R.L. |
MILANO - IT - |
04548690157 |
774.685 .Eur |
100,00 |
STRUCTURE AND COMPANY
ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
(Factory ) |
since 01/11/1959 |
in : |
|
|
|
|
|
Via |
Vall' Alta |
, 13 |
- 24020 - |
Cene |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 011/9002213 |
|
- |
Branch |
(Factory ) |
since 05/04/1995 |
in : |
|
|
|
|
|
Via |
Serio |
, s.n. |
- 24021 - |
Albino |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035/736511 |
|
- |
Branch |
(Factory ) |
since 09/07/1996 |
in : |
|
|
|
|
|
Via |
Caduti |
, 32 |
- 24020 - |
Cene |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035/736511 |
|
- |
Branch |
(Factory ) |
since 09/07/1996 |
in : |
|
|
|
|
|
Via |
Sandro Pertini |
, 1 |
- 24021 - |
Albino |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035/736511 |
|
- |
Branch |
(Warehouse ) |
since 01/06/1996 |
in : |
|
|
|
|
|
Corso |
SEMPIONE |
, 194 |
- 21052 - |
BUSTO ARSIZIO |
(VA) |
- IT - |
|
|
|
|
|
Trading Style: NUOVO FACTORY STORE CITTA' ALT |
|
- |
Branch |
(Warehouse ) |
since 06/10/1997 |
in : |
|
|
|
|
|
Via |
San Giovanni Bosco |
, 16 |
- 24026 - |
Leffe |
(BG) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 01/03/1998 |
in : |
|
|
|
|
|
Via |
G. Ferraris |
, 32 |
- 31044 - |
Montebelluna |
(TV) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 01/11/1999 |
in : |
|
|
|
|
|
Via |
F. Filzi |
, 8 |
- 24026 - |
Leffe |
(BG) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 01/03/2000 |
in : |
|
|
|
|
|
Via |
Caduti |
, 56 |
- 24020 - |
Cene |
(BG) |
- IT - |
|
|
|
|
Employees |
: 798 |
|
|
|
|
Fittings and Equipment |
for a value of
15.340.000 |
Eur |
|
|
|
|
Stocks |
for a value of
23.268.500 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
206.582 |
Eur |
|
|
|
|
Vehicles |
for a value of
330.532 |
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 |
|
- distributors |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own sales net-work |
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- Grecia |
|
- Austria |
|
- Germania |
|
- Francia |
|
- Gran Bretagna |
|
- Svizzera |
Export is mainly towards:
|
- Francia |
HISTORICAL INFORMATION
AND/OR FIRM'S
STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
General partnership |
Joint stock company |
01/11/1978 |
|
Company Style
modifications |
|
Former Style |
New Style |
Changement Date |
|
SITIP Pezzoli Luigi e Alessandro s.n.c. |
|
01/11/1978 |
|
Ex-Members /
Ex-Positions |
|
Colombo |
Umberto |
|
Born in Varese |
on 08/05/1941 |
- Fiscal Code : CLMMRT41E08L682U |
|
Residence : |
Via |
Andrea Del Sarto |
, 28 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
General Manager |
|
Marchesi |
Paolo |
|
Born in Trieste |
on 27/03/1939 |
- Fiscal Code : MRCPLA39C27H509K |
|
Residence : |
Via |
Moncolano |
, 3 |
- 34100 |
Trieste |
(TS) |
- IT - |
|
Position |
|
Director |
|
Coffetti |
Riccardo |
|
Born in BERGAMO |
on 15/05/1930 |
- Fiscal Code : CFFRCR30E15A794X |
|
Residence : |
Via |
MONTE GRAPPA |
, 7 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
|
Director |
|
Memb.of the Executive Committee |
|
Arsuffi |
Giantito |
|
Born in PONTIDA |
on 25/09/1929 |
- Fiscal Code : RSFGTT29P25G864U |
|
Residence : |
Via |
MAZZINO |
, 46/B |
- 24034 |
Cisano Bergamasco |
(BG) |
- IT - |
|
Position |
|
Director |
|
Memb.of the Executive Committee |
|
Cappelli |
Mario |
|
Born in Trieste |
on 23/08/1940 |
- Fiscal Code : CPPMRA40M23L424G |
|
Residence : |
Via |
L. Pirandello |
, 57 |
- 34100 |
Trieste |
(TS) |
- IT - |
|
Position |
|
Attorney with special power |
|
Marchesi |
Paolo |
|
Born in ROMANO DI LOMBARDIA |
on 27/03/1939 |
- Fiscal Code : MRCPLA39C27H509K |
|
Residence : |
Piazza |
SANT'ANTONIO NUOVO |
, 6 |
- 34100 |
Trieste |
(TS) |
- IT - |
|
Position |
|
Director |
|
Cortinovis |
Gian Battista |
|
Born in CENE |
on 04/03/1945 |
|
Residence : |
Via |
V.VENETO |
, 6 |
- 24020 |
Cene |
(BG) |
- IT - |
|
Position |
|
Attorney General |
|
Cortinovis |
Gian Battista |
|
Born in Cene |
on 04/03/1945 |
- Fiscal Code : CRTGBT45C44 |
|
Position |
|
Attorney General |
Former seats
|
- |
Branch |
(Sales office ) |
since 23/12/1980 |
until 06/12/1990 |
|
|
|
|
|
Via |
RESTELLI |
- MILANO |
(MI) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 05/04/1995 |
until 31/05/1996 |
|
|
|
|
|
Via |
FABIO FILZI |
- 24026 |
- LEFFE |
(BG) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 05/04/1995 |
until 05/06/1996 |
|
|
|
|
|
Via |
TONALE |
- 24026 |
- LEFFE |
(BG) |
- IT - |
|
- |
Branch |
(Factory ) |
since 01/01/1996 |
until 29/11/1999 |
|
|
|
|
Trading Style : SITIP TRIESTE |
|
|
|
|
|
Via |
FLAVIA DI STRAMARE |
- 34015 |
- MUGGIA |
(TS) |
- IT - |
|
- |
Branch |
(Store ) |
since 01/05/1998 |
until 31/12/2000 |
|
|
|
|
|
Via |
SERIO |
- 24021 |
- ALBINO |
(BG) |
- IT - |
|
The firm absorved |
|
FINSITIP S.P.A. -IN LIQUIDAZIONE- |
|
Fiscal Code: 01777220169 |
|
Date |
: |
20/06/2003 |
|
The firm absorved |
|
IMMOBILIARE SIL-GI S.R.L. |
|
, MILANO |
- IT - |
|
Fiscal Code: 04548690157 |
|
Date |
: |
27/12/1999 |
|
The firm absorved |
|
SITIP TRIESTE SPA |
|
, TRIESTE |
- IT - |
|
Date |
: |
09/07/1996 |
|
The firm absorved |
|
SITIP COTTON S.P.A. |
|
, CENE |
- IT - |
|
Fiscal Code: 00662180165 |
|
Date |
: |
09/07/1996 |
|
The firm absorved |
|
MIZAR S.P.A. |
|
, BUSTO ARSIZIO |
- IT - |
|
Fiscal Code: 00859310153 |
|
Date |
: |
09/07/1996 |
|
The firm absorved |
|
SITIP - SIAT SOCIETA' ITALIANA APPLICAZIONI TESSILI S.P.A. |
|
, LEFFE VIA FABIO FILZI 8 |
(BG) |
- IT - |
|
Date |
: |
05/04/1995 |
|
The firm absorved |
|
EL - FIL S.R.L. |
|
, VIA DON C. BOTTA N.13- BERGAMO |
- IT - |
|
Date |
: |
14/12/1990 |
PAYMENTS ANALYSIS
The average term of debts to suppliers is higher than the sector one.
PAYMENTS SCORE : - 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. 7 times.
During the last 12 Months : n. 13 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 COMMERCIO-INDUSTRIA |
|
|
|
|
5048 |
0 |
|
BANCA POPOLARE DI BERGAMO SPA |
|
|
|
|
5428 |
0 |
|
BANCA CREDITO COOP. VALLE SERIANA |
|
|
|
|
8745 |
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
|
Immovable Type |
Value |
|
Real estates |
45.292.674 .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 1959
Under the financial profile unstable results are noted. with a profit
(r.o.e. 0,47%) in the last financial year In the last financial year a drop in
sales has been registered (-10,15%).
A loss is registered as to the operating result (-2,63%).
The financial status of the company is fairly balanced with an
indebtedness level of 1,86 with an improving trend as on the decrease.
Both financial indebtedness as well as exposure to suppliers are rated
as fairly high and higher than sector's average.
Liquidity is however good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
101.372.203 |
filed balance sheet |
|
Profit (Loss) for the period |
151.616 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
112.824.049 |
filed balance sheet |
|
Profit (Loss) for the period |
1.567.834 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2003 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
122.495.637 |
filed balance sheet |
|
Profit (Loss) for the period |
-1.538.258 |
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 |
|
Years |
|
|
2005 |
2004 |
|
|
BALANCE SHEET
ACCOUNTS |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
92.574.029 |
93.712.506 |
|
. Intangible assets |
|
|
621.293 |
684.978 |
|
. Tangible fixed assets |
|
|
62.005.895 |
60.369.504 |
|
. . Land and buildings |
|
|
45.292.674 |
41.275.746 |
|
. . Plants, Equipm.and Machinery |
|
|
15.340.028 |
17.911.736 |
|
. Long-term Investments |
|
|
29.946.841 |
32.658.024 |
|
. . Financial loans |
|
|
29.946.841 |
32.658.024 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
59.817.506 |
63.946.419 |
|
. Stock |
|
|
23.268.670 |
26.198.203 |
|
. Credits |
|
|
36.540.866 |
37.742.811 |
|
. . Credits to clients |
|
|
32.159.266 |
34.383.719 |
|
. . Other credits |
|
|
4.381.600 |
3.359.092 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
7.970 |
5.405 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
594.089 |
533.695 |
|
TOTAL ASSETS |
|
|
152.985.624 |
158.192.620 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
31.767.030 |
28.952.146 |
|
. Company's capital |
|
|
10.000.000 |
2.002.000 |
|
. Reserves |
|
|
19.297.665 |
24.554.005 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
2.317.749 |
828.307 |
|
. Profit (loss) |
|
|
151.616 |
1.567.834 |
|
PROVISION CHARGES ACCOUNTS |
|
|
2.790.481 |
3.989.518 |
|
STAFF TERM INDEMNITY |
|
|
11.204.907 |
11.490.252 |
|
DEBTS |
|
|
107.197.554 |
113.703.833 |
|
. Financial M/L terms |
|
|
41.051.486 |
29.667.380 |
|
. . Financial M/L term banks |
|
|
38.874.586 |
27.127.663 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
2.176.900 |
2.539.717 |
|
. Financial short-term debts |
|
|
26.175.330 |
41.845.877 |
|
. . Financial short-term banks |
|
|
25.631.105 |
40.362.346 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
544.225 |
1.483.531 |
|
. M/L term debts to suppliers |
|
|
2.576.421 |
2.445.037 |
|
. Short-term debts to suppliers |
|
|
28.683.796 |
33.640.607 |
|
. Sundry M/L debts |
|
|
4.379.272 |
|
|
. Sundry short-term debts |
|
|
4.331.249 |
6.104.932 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
25.652 |
56.871 |
|
TOTAL LIABILITIES |
|
|
152.985.624 |
158.192.620 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
99.412.420 |
109.911.338 |
|
. Revenues from sales/services |
|
|
101.372.203 |
112.824.049 |
|
. Change of stock (products) |
|
|
-2.678.631 |
-3.923.334 |
|
OPERATING EXPENSES |
|
|
103.441.540 |
112.440.976 |
|
. Purchasing expenses |
|
|
49.816.865 |
52.717.173 |
|
. Change of stock (raw material) |
|
|
250.901 |
598.042 |
|
. Expenses from services |
|
|
15.593.019 |
17.027.820 |
|
. Expenses from leasing |
|
|
1.327.237 |
1.089.670 |
|
. General expenses/sundry charges |
|
|
1.934.057 |
2.779.407 |
|
. Staff expenses |
|
|
28.225.016 |
30.599.763 |
|
. Depreciation/Devaluation costs |
|
|
6.294.445 |
7.629.101 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
4.289.755 |
599.831 |
|
. Financial charges |
|
|
-2.725.234 |
-2.934.998 |
|
. Financial revenues |
|
|
7.014.989 |
3.534.829 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-697.941 |
4.211.902 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
-437.306 |
2.282.095 |
|
TAX |
|
|
-588.922 |
714.261 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
151.616 |
1.567.834 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
0,98 |
0,77 |
1,76 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
1,86 |
2,81 |
2,50 |
|
Current ratio |
Units |
=> 1 |
l |
1,01 |
0,78 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,61 |
0,46 |
0,81 |
|
Return on Sales |
% |
|
l |
6,35 |
8,15 |
2,17 |
|
Average stock waiting period |
dd |
|
l |
82,62 |
83,59 |
71,35 |
|
Credits to clients average term |
dd |
|
l |
114,19 |
109,69 |
128,58 |
|
Debts to suppliers average term |
dd |
|
l |
168,62 |
183,38 |
134,18 |
|
Net financial revenues/ charges incidence |
% |
|
l |
4,23 |
0,53 |
- 1,55 |
|
Labour cost incidence |
% |
|
l |
27,84 |
27,12 |
13,53 |
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 47%, 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:
370.800 .Eur.
MARKET / TERRITORY
DATA
|
Population living in the province |
: |
1.022.428 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses 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 530 significant companies.
The companies cash their credits on an average of 128 dd.
The average duration of suppliers debts is about 134 dd.
The sector's profitability is on an average of 2,17%.
The labour cost affects the turnover in the measure of 13,53%.
Goods are held in stock in a range of 71 dd.
The difference between the sales volume and the resources used to
realize it is about 1,05.
The employees costs represent the 13,62% 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 50.886 protested subjects are found; in the province they
count to 4.150.
The insolvency index for the region is 0,55, while for the province it
is 0,41.
Total Bankrupt companies in the province : 4.376.
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 |
|
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%)