MIRA
INFORM REPORT
|
Report Date : |
4th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
INOXA - S.R.L. |
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Registered Office : |
Via Dell' Industria, 28/30, 60020 – Polverigi (AN) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
16.01.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing
of metal furniture and fittings |
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 : |
333.600
- Eur |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
INOXA
- S.R.L.
Via Dell' Industria, 28/30
60020 - Polverigi (AN) -IT-
SUMMARY
Fiscal Code : 01515400420
Legal Form : Limited Liability
Company
Start of Activities : 05/06/1998
Patrimonial Consistence : 2.500.000 Eur
Turnover Range : 10.000.000/12.750.000 Eur
Number of Employees : from 36 to 50
CREDIT ANALYSIS
CREDIT OPINION : 333.600 - Eur
ACTIVITY
Manufacturing
of metal furniture and fittings.
LEGAL DATA
Legal
Form :
Limited Liability Company
Fiscal
Code :
01515400420
Foreign
Trade Reg. no. :
010598 of Ancona since 16/01/2001
Chamber
of Commerce no. :
148172 of Ancona since 13/03/1998
Firms'
Register :
AN-1998-10344 since 20/03/1998
Establishment Date : 16/01/1998
Start of Activities : 05/06/1998
Legal Duration Date : 31/12/2030
Nominal Capital : 1.000.000 Eur
Subscribed Capital : 1.000.000 Eur
Paid up Capital : 1.000.000 Eur
MEMBERS
Trombettoni Silvano
Born in POLVERIGI on 26/05/1941 - Fiscal Code :
TRMSVN41E26G803C
Residence : Frazione RUSTICO , 64 - 60020 Polverigi (AN) - IT -
Position Since Shares Amount % Ownership
Director 12/03/2004
Board Chairman 12/03/2004
No
Protests registered.
TROMBETTONI ROBERTO
Born in ANCONA on 01/02/1972 - Fiscal Code : TRMRRT72B01A271U
Residence : Via RUSTICO , 64 - 60020 Polverigi (AN) - IT -
Position Since Shares Amount % Ownership
Director 12/03/2004
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.
Trombettoni Silvano
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
SIA S.R.L. |
Polverigi (AN) - IT - |
01297540427 |
Sole Director |
Registered |
|
EUROSTILE DI TROMBETTONI SILVANO |
Polverigi (AN) - IT - |
TRMSVN41E26G803C |
Proprietor |
Ceased |
|
PLATING S.R.L. UNIPERSONALE |
Polverigi (AN) - IT - |
02179810425 |
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 |
|
Trombettoni Silvano |
Polverigi - IT - |
TRMSVN41E26G803C |
600.000
.Eur |
60,00
|
|
Trombettoni Roberto |
|
TRMRRT72B01A271U |
400.000
.Eur |
40,00
|
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:
- Legal and operative seat in :
Via Dell' Industria ,
28/30 - 60020 - Polverigi (AN)- IT -
PHONE : 071906324
PHONE : 071906090
- Secondary office (Factory )since 15/10/2001 in :
Via San Giovanni , 78 -
60020 - Polverigi (AN) - IT -
Trading Style: INOXA
PHONE : 071/906324
FAX : 071/906096
- Branch (Store )since 10/11/2004 in :
Via San Giuseppe , 19 -
60020 - Camerata Picena (AN) - IT -
- Branch (Store )since 08/02/2006 in :
Via Marconi , 12 - 60020
- Camerata Picena (AN) - IT -
Employees : 41
Assistants : 1
Fittings and Equipment for a
value of 915.000 Eur
Stocks for a value of
1.478.000 Eur
Trade organization: direct or by agents.
Sales area on a national scale.
Import comes generally from the following
nations:
-
Francia
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
Ex-Members
/ Ex-Positions
TROMBETTONI ROBERTO
Born in ANCONA on 01/02/1972 - Fiscal Code :
TRMRRT72B01A271U
Residence : Via RUSTICO , 64 -
60020 Polverigi (AN)- IT -
Position
Sole
Director
PAYMENTS ANALYSIS
The
average term of debts to suplliers is normal compared with that
of the
sector.
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 |
|
CASSA RISPARMIO VERONA-VICENZA-BELLUNO |
|
|
|
|
6355 |
0 |
|
UNICREDIT BANCA SPA |
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2008 |
0 |
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BANCA DI ANCONA - CREDITO COOP.VO |
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|
8916 |
0 |
IMMOVABLES *
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
Immovable Type Value
Real estates 631.241 .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 1998
During
the last years, it recorded positive net results (r.o.e. 11,83% in 2005) with
an increase in 2005 (+17,33%).
The
operating result in 2005 was positive (8,3%) and in line with the sector's
average.
The
financial status of the company is fairly balanced with an indebtedness level
of 2,41 and falling as against the previous year (3,16).
Moderate
recourse to bank credit while the exposure towards suppliers is rather high
even if it still falls within 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 |
10.814.601 |
filed balance sheet |
|
Profit (Loss) for the period |
248.709 |
filed balance sheet |
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
|
Item Type |
Amount |
Source |
|
Sales |
9.216.603 |
filed balance sheet |
|
Profit (Loss) for the period |
157.393 |
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 ) |
|
|
1.910.072 |
1.673.989 |
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. Intangible assets |
|
|
184.476 |
192.727 |
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. Tangible fixed assets |
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|
1.716.227 |
1.476.574 |
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. . Land and buildings |
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|
631.241 |
621.247 |
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. . Plants, Equipm.and Machinery |
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|
914.963 |
725.131 |
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. Long-term Investments |
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|
9.369 |
4.688 |
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. . Financial loans |
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|
9.369 |
4.688 |
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. . Own shares |
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CURRENT ASSETS |
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6.357.957 |
6.124.639 |
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. Stock |
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1.478.191 |
1.441.059 |
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. Credits |
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4.528.234 |
3.972.814 |
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. . Credits to clients |
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4.137.214 |
3.596.055 |
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. . Other credits |
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|
391.020 |
376.759 |
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. Short-term financial assets |
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. Liquid assets |
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|
351.532 |
710.766 |
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ACCRUED INCOME-DEFERR. ASSETS |
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|
53.732 |
85.287 |
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TOTAL ASSETS |
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8.321.761 |
7.883.915 |
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. |
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LIABILITIES |
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NET WORTH |
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2.101.608 |
1.552.899 |
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. Company's capital |
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|
1.000.000 |
700.000 |
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. Reserves |
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|
58.366 |
50.496 |
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. Reserves company's own shares |
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. Retained profits (losses) |
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|
794.533 |
645.010 |
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. Profit (loss) |
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|
248.709 |
157.393 |
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PROVISION CHARGES ACCOUNTS |
|
|
23.234 |
44.524 |
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STAFF TERM INDEMNITY |
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|
213.433 |
158.572 |
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DEBTS |
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|
5.962.788 |
6.091.990 |
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. Financial M/L terms |
|
|
536.973 |
465.510 |
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. . Financial M/L term banks |
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|
536.973 |
383.744 |
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. . Financial M/L bonds |
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. . Other financial M/L debts |
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|
81.766 |
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. Financial short-term debts |
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|
1.719.942 |
2.401.104 |
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. . Financial short-term banks |
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|
1.719.942 |
2.401.104 |
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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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3.492.728 |
2.973.668 |
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. Sundry M/L debts |
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. Sundry short-term debts |
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|
213.145 |
251.708 |
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ACCRUED COSTS DEFERR. LIABILITIES |
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|
20.698 |
35.930 |
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TOTAL LIABILITIES |
|
|
8.321.761 |
7.883.915 |
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. |
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PROFIT AND LOSS ACCOUNTS
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OUTPUT VALUE |
|
|
11.008.477 |
9.462.385 |
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. Revenues from sales/services |
|
|
10.814.601 |
9.216.603 |
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. Change of stock (products) |
|
|
126.437 |
222.347 |
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OPERATING EXPENSES |
|
|
10.317.731 |
8.834.830 |
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. Purchasing expenses |
|
|
6.129.210 |
5.019.978 |
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. Change of stock (raw material) |
|
|
95.669 |
-316.868 |
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. Expenses from services |
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|
1.888.035 |
2.059.195 |
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. Expenses from leasing |
|
|
480.676 |
448.908 |
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. General expenses/sundry charges |
|
|
40.379 |
57.564 |
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. Staff expenses |
|
|
1.325.360 |
1.246.861 |
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. Depreciation/Devaluation costs |
|
|
358.402 |
319.192 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-89.677 |
-72.291 |
|
. Financial charges |
|
|
-89.677 |
-79.479 |
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. Financial revenues |
|
|
|
7.188 |
|
FINANCIAL ASSETS CORRECTION |
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EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
|
|
10.438 |
-91.472 |
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PROFIT (LOSS) FOR THE PERIOD |
|
|
611.507 |
463.792 |
|
TAX |
|
|
362.798 |
306.399 |
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CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
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|
NET PROFIT (LOSS) |
|
|
248.709 |
157.393 |
RATIOS
|
|
Item |
O.V. |
O.V. |
as
at 31/12/2005 |
as
at 31/12/2004 |
Sector
Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,49 |
1,30 |
1,59 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,41 |
3,16 |
2,55 |
|
Current ratio |
Units |
=> 1 |
l |
1,17 |
1,08 |
1,25 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,89 |
0,83 |
0,90 |
|
Return on Sales |
% |
|
l |
5,61 |
5,17 |
4,28 |
|
Average stock waiting period |
dd |
|
l |
49,17 |
56,26 |
59,18 |
|
Credits to clients average term |
dd |
|
l |
137,70 |
140,43 |
122,36 |
|
Debts to suppliers average term |
dd |
|
l |
147,96 |
142,20 |
145,78 |
|
Net financial revenues/ charges incidence |
% |
|
l |
-
0,82 |
-
0,78 |
-
1,11 |
|
Labour cost incidence |
% |
|
l |
12,25 |
13,52 |
18,96 |
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 77%, in respect of a sector average of 57%.
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:
333.600 .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 : 461.345
Population living in the region : 1.518.780
Number of families in the region : 577.034
Monthly
family expences average in the region (in Eur.) :
- per food products : 496
- per non food products : 1.837
- per energy consume : 122
SECTOR DATA
The
values are calculated on a base of 1.771 significant companies.
The
companies cash their credits on an average of 122 dd.
The
average duration of suppliers debts is about 145 dd.
The
sector's profitability is on an average of 4,28%.
The
labour cost affects the turnover in the measure of 18,96%.
Goods
are held in stock in a range of 59 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,16.
The
employees costs represent the 19,51% 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 9.333 protested subjects are found; in the province they count to 2.315.
The
insolvency index for the region is 0,62, while for the province it is 0,51.
Total
Bankrupt companies in the province : 855.
Total
Bankrupt companies in the region : 6.005.
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 |
|