MIRA
INFORM REPORT
|
Report Date : |
4th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
SAPA ACCIAI SRL |
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Registered Office : |
Via Volta, 44/1, 20090
- Cusago (MI) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
06.07.1984 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Ø
Wholesale
trade of mineral fuels and chemical products for industrial use. Ø
Wholesale
of half-manufactured ferrous metals. Ø
Wholesale
of non ferrous metals. |
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 |
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Maximum Credit Limit : |
150.800
- Eur |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
Sapa
Acciai Srl
Via Volta, 44/1
20090 - Cusago (MI) -IT-
SUMMARY
Fiscal Code : 07488040150
Legal Form : Limited liability
company
Start of Activities : 27/10/1989
Patrimonial Consistence : 500.000 Eur
Turnover Range : 5.000.000/6.500.000 Eur
Number of Employees : fom 6 to 10
CREDIT ANALYSIS
CREDIT OPINION : 150.800 - Eur
ACTIVITY
Processing
related to steel profiling
Wholesale
trade of mineral fuels and chemical products for industrial use.
Wholesale
of half-manufactured ferrous metals.
Wholesale
of non ferrous metals.
LEGAL DATA
Legal
Form :
Limited Liability Company
Fiscal
Code :
07488040150
Foreign
Trade Reg. no. : MI240255
since 19/02/1996
Chamber
of Commerce no. : 1165645 of Milano
since 03/10/1984
Firms'
Register :
MI146-235827 since 19/02/1996
V.A.T.
Code :
07488040150
Court : 235827
of Milano since 20/09/1984
Foundation Date :
06/07/1984
Establishment Date :
06/07/1984
Start of Activities :
27/10/1989
Legal Duration Date : 31/12/2050
Nominal Capital : 100.000 Eur
Subscribed Capital : 100.000 Eur
Paid up Capital : 100.000 Eur
MEMBERS
Santoro Paolo
Born in Milano on 11/04/1960 - Fiscal Code : SNTPLA60D11F205A
Residence : Via Dlel'usignolo , 1 - 20100 Milano (MI) - IT -
Position Since Shares Amount % Ownership
Sole Director 06/07/1984
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.
Santoro Paolo
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
RADRIZZA-METAL S.R.L. IN LIQUIDAZIONE |
Milano (MI) - IT - |
12860130157 |
Liquidator |
Registered |
|
ELSA DI TERESA MOROSINI E C. SAS |
Milano (MI) - IT - |
11158160157 |
Limited Partner |
Ceased |
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 |
|
Santoro Paolo |
Milano - IT - |
SNTPLA60D11F205A |
60.000
.Eur |
60,00
|
|
ROSSETTI GIOVANNA |
Milano - IT - |
RSSGNN61D53F205F |
40.000
.Eur |
40,00
|
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
|
RADRIZZA-METAL S.R.L. IN LIQUIDAZIONE |
Milano - IT - |
12860130157 |
33.600
.Eur |
84,00
|
STRUCTURE AND COMPANY ACTIVITY
In order
to carry out its activities the firm uses the following locations:
- Legal and operative seat in :
Via Volta , 44/1 - 20090
- Cusago (MI) - IT -
PHONE : 02/90390040
- Branch since 03/06/2004 in :
Via A. Volta , 44/1 -
20090 - Cusago (MI)- IT -
Trading Style: SAPA ACCIAI SRL
Employees : 8
Fittings and Equipment for a
value of 20.658 Eur
Stocks for a value of 146.000 Eur
The firm
has a direct commercial organization
Sales
area on a regional scale.
The
company sales mainly to retailers.
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
Former
seats
- Branch since 01/01/1991 Trading
Style : SAPA ACCIAI SRL
Via Europa - 20090 -
Cusago (MI) - IT -
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 |
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Banca Provinciale Lombarda |
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Banca Popolare Milano |
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Cassa Risparmio Provincie Lombarde |
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IMMOVABLES *
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
None
reported in the name of the Firm.
FINANCIAL AND ECONOMICAL ANALYSIS
Company's
starting of activities dates back to 1989.
Under an
economic point of view, profits were registered during the last years with a
r.o.e. of 9,71% in 2005 and with an upward trend in turnover trend during the
last financial year (+7,28% in 2005).
The
operating result was positive in the last financial year (3,96%) and in line
with the sector's average.
The
ratio between debts and total assets is fairly high, as it comes out from the
indebtedness (4,18) with an upward trend.
Payments
average period is slightly high but lined up with the sector's average.
The
available funds are good.
FINANCIAL DATA
Complete balance-sheet for the year as at 31/12/2005 (in Eur x 1 )
Item Type Amount Source
Sales 6.314.453 filed
balance sheet
Profit (Loss) for the period 47.214 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
Item Type Amount Source
Sales 5.885.820 filed
balance sheet
Profit (Loss) for the period 48.051 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 ) |
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135.712 |
75.732 |
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. Intangible assets |
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. Tangible fixed assets |
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126.673 |
42.265 |
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. . Land and buildings |
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. . Plants, Equipm.and Machinery |
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. Long-term Investments |
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9.039 |
33.467 |
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. . Financial loans |
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9.039 |
33.467 |
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. . Own shares |
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CURRENT ASSETS |
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2.721.496 |
2.996.483 |
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. Stock |
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145.839 |
104.372 |
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. Credits |
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2.506.426 |
2.836.275 |
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. . Credits to clients |
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2.506.426 |
2.836.275 |
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. . Other credits |
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. Short-term financial assets |
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. Liquid assets |
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69.231 |
55.836 |
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ACCRUED INCOME-DEFERR. ASSETS |
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TOTAL ASSETS |
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2.857.208 |
3.072.215 |
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. |
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LIABILITIES |
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NET WORTH |
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486.169 |
538.955 |
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. Company's capital |
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100.000 |
12.000 |
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. Reserves |
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338.955 |
478.904 |
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. Reserves company's own shares |
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. Retained profits (losses) |
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. Profit (loss) |
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47.214 |
48.051 |
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PROVISION CHARGES ACCOUNTS |
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206.583 |
206.583 |
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STAFF TERM INDEMNITY |
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27.980 |
24.122 |
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DEBTS |
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2.102.226 |
2.302.555 |
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. Financial M/L terms |
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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 |
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34.250 |
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TOTAL LIABILITIES |
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2.857.208 |
3.072.215 |
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. |
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PROFIT AND LOSS ACCOUNTS
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OUTPUT VALUE |
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6.348.236 |
5.907.941 |
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. Revenues from sales/services |
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6.314.453 |
5.885.820 |
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. Change of stock (products) |
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OPERATING EXPENSES |
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6.235.002 |
5.801.991 |
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. Purchasing expenses |
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5.308.279 |
5.034.948 |
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. Change of stock (raw material) |
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-41.467 |
4.253 |
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. Expenses from services |
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466.845 |
332.357 |
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. Expenses from leasing |
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155.003 |
165.152 |
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. General expenses/sundry charges |
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69.364 |
26.010 |
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. Staff expenses |
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225.007 |
204.598 |
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. Depreciation/Devaluation costs |
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51.971 |
34.673 |
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FINANCIAL REVENUES (CHARGES) |
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-13.522 |
-5.346 |
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. Financial charges |
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-14.067 |
-5.787 |
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. Financial revenues |
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|
545 |
441 |
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FINANCIAL ASSETS CORRECTION |
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EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
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|
-107 |
-3 |
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PROFIT (LOSS) FOR THE PERIOD |
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|
99.605 |
100.601 |
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TAX |
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|
52.391 |
52.550 |
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CORRECT./ALLOCAT. FISCAL RULE |
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NET PROFIT (LOSS) |
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47.214 |
48.051 |
RATIOS
|
|
Item |
O.V. |
O.V. |
as
at 31/12/2005 |
as
at 31/12/2004 |
Sector
Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
3,78 |
7,43 |
1,54 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
4,18 |
4,16 |
2,48 |
|
Current ratio |
Units |
=> 1 |
l |
1,29 |
1,30 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,22 |
1,25 |
0,88 |
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Return on Sales |
% |
|
l |
1,57 |
1,40 |
4,03 |
|
Average stock waiting period |
dd |
|
l |
8,28 |
6,37 |
50,75 |
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Credits to clients average term |
dd |
|
l |
142,88 |
173,44 |
128,91 |
|
Debts to suppliers average term |
dd |
|
l |
120,00 |
140,00 |
145,33 |
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Net financial revenues/ charges incidence |
% |
|
l |
-
0,21 |
-
0,09 |
-
0,95 |
|
Labour cost incidence |
% |
|
l |
3,56 |
3,47 |
14,23 |
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 59%, in respect of a sector average of 54%.
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:
150.800
.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 : 3.839.216
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 316 significant companies.
The
companies cash their credits on an average of 128 dd.
The
average duration of suppliers debts is about 145 dd.
The
sector's profitability is on an average of 4,03%.
The
labour cost affects the turnover in the measure of 14,23%.
Goods
are held in stock in a range of 50 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,24.
The
employees costs represent the 14,37% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally
the trade activity shows periods of crisis.
The area
is statistically considered lowly risky.
In the
region 50.886 protested subjects are found; in the province they count to
24.765.
The
insolvency index for the region is 0,55, while for the province it is 0,66.
Total
Bankrupt companies in the province : 22.523.
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 |
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