MIRA
INFORM REPORT
|
Report Date : |
27th February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
FLONTECH S.R.L. |
|
|
|
|
Registered Office : |
Via I Maggio Traversa 3, 29/31,
25035 - Ospitaletto (BS) -IT- |
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|
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Country : |
Italy |
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|
Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
23.12.1997 |
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Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Production of
plastic products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
44.400 .Eur. |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
Company Name & Address
Flontech s.r.l.
Via I Maggio Traversa 3, 29/31,
25035 - Ospitaletto (BS) -IT-
SUMMARY
Fiscal
Code : 02585600162
Legal
Form : Limited
Liability Company
Start
of Activities : 03/02/1998
Patrimonial
Consistence : 750.000
Eur
Turnover
Range : 5.000.000/6.500.000
Eur
Number
of Employees : from 26
to 35
CREDIT ANALYSIS
CREDIT OPINION : 44.400 - Eur
Score : 3. Risk medium
Creditworthness Rate : 24% (Scanty)
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
Production of
plastic products.
LEGAL DATA
Legal Form : Limited
liability company
Fiscal Code : 02585600162
Chamber of Commerce no. : 306974 of Bergamo since 27/01/1998
Chamber of Commerce no. : 398654 of Brescia since 20/09/2004
Firms' Register :
BG-1998-5798 since 28/01/1998
Foundation
Date :
23/12/1997
Establishment
Date :
23/12/1997
Start
of Activities :
03/02/1998
Legal
Duration Date :
31/12/2030
Nominal
Capital :
1.000.000 Eur
Subscribed
Capital :
1.000.000 Eur
Paid
up Capital :
946.000 Eur
MEMBERS
|
Stockelmann |
Helmut Werner |
|
Born in Munster |
on 31/08/1946 |
- Fiscal Code : STCHMT46M31Z112R |
|
Residence : |
Via |
S.stefano |
, 1 |
- 25060 |
Collebeato |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
29/02/2000 |
|
|
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.
|
STOCKELMANN |
|
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 |
|
Stockelmann Helmut Werner |
Collebeato - IT - |
STCHMT46M31Z112R |
710.000 .Eur |
71,00 |
|
Stoeckelmann Ulf |
|
STCLFU76C21Z112L |
290.000 .Eur |
29,00 |
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:
|
- |
Registered office |
in : |
|
|
|
|
|
Via |
I Maggio Traversa 3 |
, 29/31 |
- 25035 - |
Ospitaletto |
(BS) |
- IT - |
|
- |
Operative seat |
since 03/02/1998 |
in : |
|
|
|
|
|
Via |
I Maggio Iii Traversa |
, 29/31 |
- 25035 - |
Ospitaletto |
(BS) |
- IT - |
|
|
|
|
PHONE |
: 030/6840601 |
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|
|
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FAX |
: 030/6847210 |
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|
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Employees |
: 25 |
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|
|
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Assistants |
: 1 |
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|
|
|
Fittings and Equipment |
for a value of
635.241 |
Eur |
|
|
|
|
Stocks |
for a value of
792.761 |
Eur |
The firm has a
direct commercial organization
Business are
addressed to Northern Italy.
Import comes
generally from the following nations:
- Francia
HISTORICAL INFORMATION AND/OR FIRM'S STATUS
|
Ex-Members /
Ex-Positions |
|
Internullo |
Remo |
|
Born in Gela |
on 21/09/1941 |
- Fiscal Code : NTRRME41P21D960C |
|
Residence : |
Via |
G.Dell'Era |
, 3 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
|
Sole Director |
PAYMENTS ANALYSIS
The average term of
debts to suppliers is higher 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 SAN PAOLO DI BRESCIA |
|
|
|
|
3376 |
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
None reported in
the name of the Firm.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject is active
since 1998
A positive economic
result was achieved with a r.o.e. 7,8%.
R.o.i. is positive
(5,8%). falling within the field's average.
The ratio between
shareholder's equity and borrowed capital is not well balanced, the
indebtedness level is equal to 5,22
Payments average
period is high and higher than the sector.
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 |
5.290.956 |
filed balance sheet |
|
Profit (Loss) for the period |
45.840 |
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 ACCOUNTS
|
Year |
2005 |
|
ASSETS |
|
|
CREDITS TO SHAREHOLDERS |
|
|
FIXED ASSETS ( NET ) |
652.823 |
|
. Intangible assets |
35.179 |
|
. Tangible fixed assets |
617.644 |
|
. . Land and buildings |
|
|
. . Plants, Equipm.and Machinery |
|
|
. Long-term Investments |
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. . Financial loans |
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. . Own shares |
|
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CURRENT ASSETS |
3.575.043 |
|
. Stock |
1.883.846 |
|
. Credits |
1.690.990 |
|
. . Credits to clients |
1.690.990 |
|
. . Other credits |
|
|
. Short-term financial assets |
|
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. Liquid assets |
207 |
|
ACCRUED INCOME-DEFERR. ASSETS |
11.513 |
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TOTAL ASSETS |
4.239.379 |
|
. |
|
|
LIABILITIES |
|
|
NET WORTH |
587.654 |
|
. Company's capital |
500.000 |
|
. Reserves |
41.814 |
|
. Reserves company's own shares |
|
|
. Retained profits (losses) |
|
|
. Profit (loss) |
45.840 |
|
PROVISION CHARGES ACCOUNTS |
|
|
STAFF TERM INDEMNITY |
71.894 |
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DEBTS |
3.570.253 |
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. Financial M/L terms |
|
|
. . 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 |
9.578 |
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TOTAL LIABILITIES |
4.239.379 |
|
. |
|
PROFIT AND LOSS ACCOUNTS
|
|
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OUTPUT VALUE |
6.557.438 |
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. Revenues from sales/services |
5.290.956 |
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. Change of stock (products) |
598.206 |
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OPERATING EXPENSES |
6.311.553 |
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. Purchasing expenses |
4.019.303 |
|
. Change of stock (raw material) |
577.159 |
|
. Expenses from services |
659.568 |
|
. Expenses from leasing |
208.409 |
|
. General expenses/sundry charges |
48.924 |
|
. Staff expenses |
664.618 |
|
. Depreciation/Devaluation costs |
133.572 |
|
FINANCIAL REVENUES (CHARGES) |
-105.247 |
|
. Financial charges |
-105.299 |
|
. Financial revenues |
52 |
|
FINANCIAL ASSETS CORRECTION |
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
178 |
|
PROFIT (LOSS) FOR THE PERIOD |
140.816 |
|
TAX |
94.976 |
|
CORRECT./ALLOCAT.FISCAL RULE |
|
|
NET PROFIT (LOSS) |
45.840 |
RATIOS
|
|
Item |
O.V. |
O.V. |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,77 |
1,32 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
5,22 |
2,83 |
|
Current ratio |
Units |
=> 1 |
l |
1,16 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,55 |
0,88 |
|
Return on Sales |
% |
|
l |
3,39 |
4,41 |
|
Average stock waiting period |
dd |
|
l |
128,16 |
43,70 |
|
Credits to clients average term |
dd |
|
l |
115,05 |
128,21 |
|
Debts to suppliers average term |
dd |
|
l |
210,00 |
150,00 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,98 |
- 1,12 |
|
Labour cost incidence |
% |
|
l |
12,56 |
16,48 |
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 24%, in respect of a sector average of 56%.
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:
44.400 .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.
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 |
: |
1.169.259 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family
expences 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 2.310 significant companies.
The companies cash
their credits on an average of 128 dd.
The average
duration of suppliers debts is about 150 dd.
The sector's
profitability is on an average of 4,41%.
The labour cost
affects the turnover in the measure of 16,48%.
Goods are held in
stock in a range of 43 dd.
The difference
between the sales volume and the resources used to realize it is about 1,19.
The employees costs
represent the 16,69% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally 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 5.551.
The insolvency
index for the region is 0,55, while for the province it is 0,48.
Total Bankrupt
companies in the province : 3.452.
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions