MIRA
INFORM REPORT
|
Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
NUOVA C.E.A.M. - S.R.L. |
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|
|
Registered Office : |
Via Petrella, 6 21052-Busto Arsizio (VA) |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
07.02.1985 |
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Com. Reg. No.: |
07015900157 |
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|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Wholesale of various
machines, tools and equipment for industry, trade, navigation, handcraft and
agriculture. Wholesale of
radio-electric, telephonic and television materials. |
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 : |
82.600 .Eur. |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Name & address
|
NUOVA C.E.A.M. - S.R.L. |
|
Via |
Petrella, |
6 |
|
21052 |
- |
(VA) |
-IT- |
SUMMARY
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
07/02/1985 |
|
Patrimonial Consistence |
: |
500.000 Eur |
|
|
: |
5.000.000/6.500.000 Eur |
|
Number of Employees |
: |
from 11 to 15 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
82.600 - Eur |
ACTIVITY
Wholesale of various machines, tools and equipment for industry, trade,
navigation, handcraft and agriculture.
Wholesale of radio-electric, telephonic and television materials.
Wholesale of electric material in general.
LEGAL DATA
Legal Form :
Limited Liability Company
|
Fiscal Code :
07015900157 |
|
Foreign Trade Reg. no.
: VA028624 since 21/04/1992 |
|
Foreign Trade Reg. no.
: M876448 of |
|
Chamber of Commerce no.
: 1131711 of Milano |
|
Chamber of Commerce no.
: 185567 of |
|
V.A.T. Code :
01449380128 |
|
Foundation Date |
: 10/06/1983 |
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|
Establishment Date |
: 10/06/1983 |
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Start of Activities |
: 07/02/1985 |
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|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 51.480 |
Eur |
|
Subscribed Capital |
: 51.480 |
Eur |
|
Paid up Capital |
: 51.480 |
Eur |
MEMBERS
|
|
Anna Maria |
|
Born in Inveruno |
(MI) |
on 21/08/1942 |
- Fiscal Code : CLMNMR42M61E313G |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
16/02/2007 |
|
|
No Protests registered.
|
|
Mauro |
|
Born in Borgoforte |
(MN) |
on 08/11/1951 |
- Fiscal Code : RVRMRA51S08B011B |
|
Residence : |
Via |
|
, 610 |
- 24045 |
Fara Gera d'Adda |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
17/02/2005 |
|
|
No Protests registered.
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 |
|
|
Sezze - IT - |
CLMFDN35L05B300T |
46.384 .Eur |
90,10 |
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|
|
CLMNMR42M61E313G |
5.096 .Eur |
9,89 |
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 |
|
since 07/02/1985 |
in : |
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Via |
Petrella |
, 6 |
- 21052 - |
|
(VA) |
- IT - |
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PHONE |
: 029788253 |
|
- |
Branch |
(Warehouse ) |
since 10/06/1983 |
in : |
|
|
|
|
|
Via |
|
, 0017 |
- 20010 - |
Inveruno |
(MI) |
- IT - |
|
- |
Branch |
(Store ) |
since 01/06/1991 |
in : |
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|
|
|
|
Via |
Nuova Di Lotizzazione |
- 20020 - |
Arconate |
(MI) |
- IT - |
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Employees |
: 12 |
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|
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Fittings and Equipment |
for a value of 123.949 |
Eur |
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|
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Stocks |
for a value of 984.500 |
Eur |
PAYMENTS ANALYSIS
The average term of debts to suppliers is high compared with that of the
sector.
PAYMENTS SCORE: - No insolvency
CREDIT REVOLVING
The subject of inquiry has been monitored by our company:
During the last 6 Months: n. 1 time.
During the last 12 Months: n. 1 time.
PROTESTS
Protests checking on the subject firm have 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 |
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BANCA DI LEGNANO |
Ag. di Inveruno. |
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|
3204 |
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BANCA POPOLARE DI |
Ag. di |
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|
5428 |
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CARIPLO S.P.A. |
Ag. di |
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|
6070 |
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IMMOVABLES
*No specific (mortgage/cadastral registrations) inspections have been
requested.
|
Immovable Type |
Value |
|
Real estates |
121.367 .Eur |
NB.: For Capital Companies the value of the Immovable is the one reported
in the last available financial documents.
FINANCIAL AND
ECONOMICAL ANALYSIS
The company is active since 1985
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 4, 73% in 2005 keeping the turnover steady during the
last two years.
The operating result was positive in the last financial year (5, 61%)
and reflects the field's average.
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 5, 5 which is decreasing.
The recourse to suppliers' credit is substantial with long payments
average period however above the average.
Liquid assets are good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
5.906.247 |
filed balance sheet |
|
Profit (Loss) for the period |
20.207 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
6.272.324 |
filed balance sheet |
|
Profit (Loss) for the period |
10.934 |
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 |
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|
2005 |
2004 |
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|
BALANCE SHEET ACCOUNTS |
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|
. |
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ASSETS |
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CREDITS TO SHAREHOLDERS |
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|
FIXED ASSETS ( NET ) |
|
|
261.751 |
278.958 |
|
. Intangible assets |
|
|
64.861 |
81.844 |
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. Tangible fixed assets |
|
|
196.890 |
197.114 |
|
. . Land and buildings |
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. . Plants, Equipments and Machinery |
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. Long-term Investments |
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. . Financial loans |
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. . Own shares |
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CURRENT ASSETS |
|
|
3.970.357 |
5.218.977 |
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. Stock |
|
|
984.426 |
1.960.056 |
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. Credits |
|
|
2.056.539 |
1.813.390 |
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. . Credits to clients |
|
|
2.056.539 |
1.813.390 |
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. . Other credits |
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|
|
|
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. Short-term financial assets |
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|
80.000 |
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. Liquid assets |
|
|
849.392 |
1.445.531 |
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ACCRUED INCOME-DEFERR. ASSETS |
|
|
26.466 |
33.118 |
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TOTAL ASSETS |
|
|
4.258.574 |
5.531.053 |
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. |
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LIABILITIES |
|
|
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NET WORTH |
|
|
426.544 |
406.338 |
|
. Company's capital |
|
|
51.480 |
51.480 |
|
. Reserves |
|
|
41.089 |
41.090 |
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. Reserves company's own shares |
|
|
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|
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. Retained profits (losses) |
|
|
313.768 |
302.834 |
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. Profit (loss) |
|
|
20.207 |
10.934 |
|
PROVISION CHARGES ACCOUNTS |
|
|
|
|
|
STAFF TERM INDEMNITY |
|
|
221.837 |
200.399 |
|
DEBTS |
|
|
3.469.901 |
4.781.168 |
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. Financial M/L terms |
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|
|
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. . Financial M/L term banks |
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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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. . Financial short-term banks |
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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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. Short-term debts to suppliers |
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. Sundry M/L debts |
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. Sundry short-term debts |
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ACCRUED COSTS DEFERR. LIABILITIES |
|
|
140.292 |
143.148 |
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TOTAL LIABILITIES |
|
|
4.258.574 |
5.531.053 |
|
. |
|
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PROFIT AND LOSS ACCOUNTS |
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OUTPUT VALUE |
|
|
5.983.208 |
6.358.495 |
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. Revenues from sales/services |
|
|
5.906.247 |
6.272.324 |
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. Change of stock (products) |
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|
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|
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OPERATING EXPENSES |
|
|
5.744.238 |
6.113.280 |
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. Purchasing expenses |
|
|
3.277.720 |
5.128.398 |
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. Change of stock (raw material) |
|
|
975.630 |
-466.166 |
|
. Expenses from services |
|
|
654.490 |
487.017 |
|
. Expenses from leasing |
|
|
109.646 |
95.720 |
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. General expenses/sundry charges |
|
|
87.490 |
178.999 |
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. Staff expenses |
|
|
567.583 |
603.477 |
|
. Depreciation/Devaluation costs |
|
|
71.679 |
85.835 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-124.518 |
-136.397 |
|
. Financial charges |
|
|
-144.815 |
-176.584 |
|
. Financial revenues |
|
|
20.297 |
40.187 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
|
-1 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
114.452 |
108.817 |
|
TAX |
|
|
94.245 |
97.883 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
20.207 |
10.934 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
|
3,51 |
3,25 |
2,37 |
|
Net Short-term indebtedness |
Units |
- 1 |
|
5,50 |
7,46 |
4,52 |
|
Current ratio |
Units |
=> 1 |
|
1,24 |
1,16 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
|
0,93 |
0,72 |
0,83 |
|
Return on Sales |
% |
|
|
1,55 |
1,54 |
2,06 |
|
Average stock waiting period |
dd |
|
|
59,97 |
112,46 |
61,77 |
|
Credits to clients average term |
dd |
|
|
125,31 |
104,07 |
119,34 |
|
Debts to suppliers average term |
dd |
|
|
220,00 |
220,00 |
140,00 |
|
Net financial revenues/ charges incidence |
% |
|
|
- 2,10 |
- 2,17 |
- 0,96 |
|
Labour cost incidence |
% |
|
|
9,60 |
9,62 |
8,09 |
O.V. = Optimal Value. When not present refer to the sectors.
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
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:
82.600 .Eur.
MARKET / TERRITORY
DATA
|
Population living in the province |
: |
843.250 |
|
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 3.443 significant companies.
The companies cash their credits on an average of 119 dd.
The average duration of supplier’s debts is about 140 dd.
The sector's profitability is on an average of 2, 06%.
The labour cost affects the turnover in the measure of 8, 09%.
Goods are held in stock in a range of 61 dd.
The difference between the sales volume and the resources used to
realize it is about 1, 45.
The employees costs represent the 8, 27% of the production costs.
STATISTICAL
DETRIMENTAL DATA
Statistically the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they
count to 4.597.
The insolvency index for the region is 0, 55, while for the province it
is 0, 55.
Total Bankrupt companies in the province: 3.052.
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%)