MIRA
INFORM REPORT
|
Report Date : |
5th January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
CLIMAVENETA S.P.A. |
|
|
|
|
Registered Office : |
Via L. Seitz, 47 31100 - Treviso
(TV) -IT- |
|
|
|
|
Country : |
Italy |
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|
|
|
Financials (as on) : |
31.12.2005 |
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|
|
|
Date of Incorporation : |
18/05/2001 |
|
|
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|
Legal Form : |
Joint Stock company
with sole shareholder |
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|
|
|
Line of Business : |
Manufacturing of ventilation and refrigerating systems not for
house hold use. |
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 : |
332.600 - Eur |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
Company Name & Address
CLIMAVENETA S.P.A.
Via L. Seitz, 47
31100 - Treviso (TV) -IT-
SUMMARY
Fiscal Code : 02603430139
Legal Form : Joint Stock company with sole shareholder
Start of Activities : 31/12/2003
Patrimonial Consistence : Over 2.500.000 Eur
Turnover Range : 100.000.000/150.000.000 Eur
Number of Employees : from 251 to
500
CREDIT ANALYSIS
CREDIT OPINION : 332.600 - Eur
ACTIVITY
Manufacturing of ventilation and refrigerating systems not for
house hold use.
Installation and/or assembly of ventilation and refrigerating
systems.
LEGAL DATA
Legal Form :
Joint Stock company with sole shareholder
Fiscal Code :
02603430139
Chamber of Commerce no. :
87861 of Belluno
Chamber of Commerce no. :
269397 of Como since 15/06/2001
Chamber of Commerce no. :
302989 of Treviso since 12/12/2003
Chamber of Commerce no. :
300809 of Vicenza since 19/01/2004
Firms' Register :
CO-2001-19334 since 15/06/2001
Firms' Register :
TV-2003-56483 since 12/12/2003
Firms' Register :
TV-2003-56483 since 12/12/2003
Establishment Date : 18/05/2001
Start of Activities : 31/12/2003
Legal Duration Date : 31/12/2050
Paid up Capital : 10.000.000 Eur
MEMBERS
Melo' Dario
Born in BOLOGNA on 15/04/1957 - Fiscal Code :
MLEDRA57D15A944U
Residence : Via ORSONI , 18 - 40100 Bologna (BO) - IT -
Position Since Shares Amount % Ownership
Director 21/04/2006
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 |
|
DE' LONGHI S.P.A. |
Treviso - IT - |
11570840154 |
10.000.000 .Eur |
100,00 |
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 L. Seitz , 47 -
31100 - Treviso (TV)- IT -
- Branch (Factory )since 29/12/2003 in :
Via Dell' Industria ,
13 - 32010 - Pieve d'Alpago (BL)- IT -
- Branch (Factory )since 29/12/2003 in :
Via Sarson , 57/C -
36061 - Bassano del Grappa (VI)- IT -
PHONE : 0424/501448
Employees : 365
Active partners : 4
Fittings and Equipment
for a value of 8.568.019 Eur
Stocks for a value of 42.834.935 Eur
Trade organization: direct or by agents.
Sales area on a national scale.
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
Ex-Members / Ex-Positions
De' Longhi Giuseppe
Born in TREVISO on 24/04/1939 - Fiscal Code :
DLNGPP39D24L407D
Residence : Vicolo ROVERO , 1 - 31100 Treviso (TV) - IT -
Position
Director
DE' LONGHI S.P.A.
- Fiscal Code : 11570840154
Residence : Via L. SEITZ , 47 - 31100 Treviso (TV)- IT -
Position
Sole partner
Saccardi Giuliano
Born in Treviso on 29/06/1942 - Fiscal Code :
SCCGLN42H29L407A
Residence : Via Indipendenza , 5 - 31100 Treviso (TV)- IT -
Position
Chairman of the Board of Aud.
De Longhi Giuseppe
Born in TREVISO on 24/04/1939 - Fiscal Code :
DLNGPP39D24L407D
Residence : Vicolo ROVERO , 1 - 31100 Treviso (TV) - IT -
Position
Director
Sartori Silvio
Born in BELLUNO on 11/09/1941 - Fiscal Code :
SRTSLV41P11A757J
Residence : Viale DEI MILLE , 15 - 31100 Treviso (TV)- IT -
Position
Director
Board Chairman
Grossi Carlo
Born in LECCO on 16/01/1956 - Fiscal Code :
GRSCRL56A16E507F
Residence : Via BARBERIA , 11 - 40100 Bologna (BO)- IT -
Position
Director
General Director
Managing Director
Zamperetti Antonella
Born in VENEZIA on 16/02/1948 - Fiscal Code :
ZMPNNL48B56L736J
Residence : Viale FRATELLI BANDIERA , 21/D - 31100 Treviso (TV) - IT -
Position
Permanent Auditor
Leonardi Mario
Born in SAN GIORGIO DI NOGARO on 27/05/1944 - Fiscal Code :
LNRMRA44E27H895E
Residence : Via MONTE GRAPPA , 470 - 99999 Belluno (BL) - IT -
Position
Permanent Auditor
Manzon Giovanni
Born in FIUME on 22/08/1938 - Fiscal Code :
MNZGNN38M22D620Y
Residence : Viale TRENTO E TRIESTE , 14 - 31100 Treviso (TV) - IT -
Position
Temporary Auditor
Bettiol Antonella
Born in TREVISO on 10/04/1965 - Fiscal Code :
BTTNNL65D50L407R
Residence : Via GIUNTI , 2 - 31015 Conegliano (TV)- IT -
Position
Temporary Auditor
Catterin Giuseppe
Born in TREVISO on 27/10/1942 - Fiscal Code : CTTGPP42R27L407H
Residence : Vicolo ROMA , 6 - 31050 Villorba (TV) - IT -
Position
Attorney with special power
BERALDO STEFANO
Born in VENEZIA on 23/03/1957 - Fiscal Code :
BRLSFN57C23L736P
Residence : Via TERRAGLIO , 17 - 30100 Venezia (VE) - IT -
Position
Director
SPINELLI MARCO
Born in COMO on 21/04/1956 - Fiscal Code :
SPNMRC56D21C933A
Residence : Via POZZONE , 1 - 22070 Appiano Gentile (CO) - IT -
Position
Sole Director
DE' LONGHI FABIO
Born in TREVISO on 24/09/1967 - Fiscal Code :
DLNFBA67P24L407M
Residence : Piazza S. ANDREA , 6 - 31100 Treviso (TV) - IT -
Position
Director
MARCHESINI MAURIZIO
Born in VALDAGNO on 03/02/1968 - Fiscal Code :
MRCMRZ68B03L551O
Residence : Via G. GARIBALDI , 69 - 36031 Dueville (VI) - IT -
Position
Attorney with special power
The firm absorved
CLIMAVENETA S.P.A.
Via L. SEITZ , 47 , 31100 , Treviso (TV) - IT -
Fiscal Code: 02205090265
Date : 29/12/2003
PAYMENTS ANALYSIS
The average term of debts to suppliers is high compared with that
of the sector.
PAYMENTS SCORE : ZZZZZ - No insolvency
CREDIT REVOLVING
The subject of inquiry has been monitored by our company:
During the last 6 Months : n. 1 times.
During the last 12 Months : n. 1 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 ANTONIANA
POPOLARE VENETA |
|
|
|
|
5040 |
0 |
|
BANCA INTESA SPA |
|
|
|
|
3069 |
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have
been requested.
Immovable
Type Value
Real estates 11.732.667 .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 has been active for some years.
During the last years, it achieved profits (r.o.e. 2,97% on 2005)
with a stable trend in the turnover.
The return on Investment in the last financial year was positive
(3,57%) falling within the field's average.
The analysis shows a fair financial position as the indebtedness
volume is acceptable (2,05) and decreasing as against 2004.
Financial indebtedness is considered fair whereas the recourse to
commercial borrowings is high even in comparison with the sector's.
The liquidity level is not completely good.
FINANCIAL DATA
Complete balance-sheet for the year as at 31/12/2005 (in Eur x 1 )
|
Item
Type |
Amount |
Source |
|
Sales |
107.089.674 |
filed balance sheet |
|
Profit (Loss) for the
period |
984.014 |
filed balance sheet |
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
|
Item
Type |
Amount |
Source |
|
Sales |
100.300.044 |
filed balance sheet |
|
Profit (Loss) for the
period |
3.276.095 |
filed balance sheet |
Complete balance-sheet for the year as at 31/12/2003 (in Eur x 1 )
|
Item
Type |
Amount |
Source |
|
Sales |
94.602.342 |
filed balance sheet |
|
Profit (Loss) for the
period |
10.320.362 |
filed balance sheet |
Complete balance-sheet for the year as at 31/12/2002 (in Eur x 1 )
|
Item
Type |
Amount |
Source |
|
Profit (Loss) for the
period |
-948 |
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 |
||||
|
. |
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|
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|
|
ASSETS |
|
|
|
|
|
CREDITS TO
SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
148.816.528 |
135.074.252 |
|
. Intangible assets |
|
|
109.322.119 |
115.578.940 |
|
. Tangible fixed
assets |
|
|
15.572.601 |
16.192.857 |
|
. . Land and
buildings |
|
|
11.732.667 |
12.110.607 |
|
. . Plants,
Equipm.and Machinery |
|
|
3.290.010 |
3.386.381 |
|
. Long-term
Investments |
|
|
23.921.808 |
3.302.455 |
|
. . Financial loans |
|
|
23.921.808 |
3.302.455 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
52.718.665 |
56.580.307 |
|
. Stock |
|
|
11.517.231 |
11.544.973 |
|
. Credits |
|
|
40.881.806 |
43.931.552 |
|
. . Credits to
clients |
|
|
36.337.202 |
43.159.109 |
|
. . Other credits |
|
|
4.544.604 |
772.443 |
|
. Short-term
financial assets |
|
|
|
|
|
. Liquid assets |
|
|
319.628 |
1.103.782 |
|
ACCRUED
INCOME-DEFERR. ASSETS |
|
|
4.814.960 |
5.499.528 |
|
TOTAL ASSETS |
|
|
206.350.153 |
197.154.087 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
33.080.471 |
34.096.457 |
|
. Company's capital |
|
|
10.000.000 |
10.000.000 |
|
. Reserves |
|
|
22.096.457 |
20.820.362 |
|
. Reserves company's
own shares |
|
|
|
|
|
. Retained profits
(losses) |
|
|
|
|
|
. Profit (loss) |
|
|
984.014 |
3.276.095 |
|
PROVISION CHARGES
ACCOUNTS |
|
|
4.161.590 |
5.185.185 |
|
STAFF TERM INDEMNITY |
|
|
3.143.894 |
2.764.122 |
|
DEBTS |
|
|
165.954.859 |
155.078.414 |
|
. Financial M/L terms |
|
|
97.630.084 |
153.574 |
|
. . Financial M/L
term banks |
|
|
97.630.084 |
153.574 |
|
. . Financial M/L
bonds |
|
|
|
|
|
. . Other financial M/L
debts |
|
|
|
|
|
. Financial
short-term debts |
|
|
11.918.017 |
123.094.450 |
|
. . Financial
short-term banks |
|
|
8.692.339 |
402.808 |
|
. . Financial
short-term bonds |
|
|
|
|
|
. . Other financial
short-term debts |
|
|
3.225.678 |
122.691.642 |
|
. M/L term debts to
suppliers |
|
|
|
|
|
. Short-term debts to
suppliers |
|
|
52.602.565 |
27.336.887 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term
debts |
|
|
3.804.193 |
4.493.503 |
|
ACCRUED COSTS DEFERR.
LIABILITIES |
|
|
9.339 |
29.909 |
|
TOTAL LIABILITIES |
|
|
206.350.153 |
197.154.087 |
|
. |
|
|
|
|
PROFIT AND LOSS ACCOUNTS
|
OUTPUT VALUE |
|
|
109.640.609 |
103.114.094 |
|
. Revenues from
sales/services |
|
|
107.089.674 |
100.300.044 |
|
. Change of stock
(products) |
|
|
620.779 |
801.734 |
|
OPERATING EXPENSES |
|
|
102.258.201 |
93.627.194 |
|
. Purchasing expenses |
|
|
64.856.212 |
60.080.557 |
|
. Change of stock
(raw material) |
|
|
648.522 |
-1.096.662 |
|
. Expenses from
services |
|
|
13.377.072 |
12.545.509 |
|
. Expenses from
leasing |
|
|
665.714 |
939.727 |
|
. General
expenses/sundry charges |
|
|
606.526 |
790.491 |
|
. Staff expenses |
|
|
13.628.318 |
12.350.962 |
|
.
Depreciation/Devaluation costs |
|
|
8.475.837 |
8.016.610 |
|
FINANCIAL REVENUES
(CHARGES) |
|
|
-2.958.858 |
-3.229.851 |
|
. Financial charges |
|
|
-3.158.770 |
-3.421.350 |
|
. Financial revenues |
|
|
199.912 |
191.499 |
|
FINANCIAL ASSETS
CORRECTION |
|
|
|
|
|
EXTRAORDINARY
FINANCIAL REVENUES (CHARGES) |
|
|
-725.098 |
991.885 |
|
PROFIT (LOSS) FOR THE
PERIOD |
|
|
3.698.452 |
7.248.934 |
|
TAX |
|
|
2.714.438 |
3.972.839 |
|
CORRECT./ALLOCAT.
FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
984.014 |
3.276.095 |
RATIOS
|
|
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
0,89 |
0,27 |
1,92 |
|
Net Short-term
indebtedness |
Units |
- 1 |
l |
2,05 |
4,51 |
3,05 |
|
Current ratio |
Units |
=> 1 |
l |
0,77 |
0,36 |
1,26 |
|
Acid Test
Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,60 |
0,29 |
0,92 |
|
Return on Sales |
% |
|
l |
8,83 |
11,25 |
3,74 |
|
Average stock waiting
period |
dd |
|
l |
38,70 |
41,43 |
56,77 |
|
Credits to clients
average term |
dd |
|
l |
122,14 |
154,90 |
129,13 |
|
Debts to suppliers
average term |
dd |
|
l |
240,01 |
133,74 |
150,00 |
|
Net financial
revenues/ charges incidence |
% |
|
l |
- 2,76 |
- 3,22 |
- 1,03 |
|
Labour cost incidence |
% |
|
l |
12,72 |
12,31 |
19,02 |
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 32%, in
respect of a sector average of 55%.
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:
332.600
.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 : 838.732
Population living in the region : 4.699.950
Number of families in the region : 1.813.210
Monthly family expences average in the region (in Eur.) :
- per food products : 456
- per non food products : 2.052
- per energy consume : 127
SECTOR DATA
The values are calculated on a base of 2.113 significant
companies.
The companies cash their credits on an average of 129 dd.
The average duration of suppliers debts is about 150 dd.
The sector's profitability is on an average of 3,74%.
The labour cost affects the turnover in the measure of 19,02%.
Goods are held in stock in a range of 56 dd.
The difference between the sales volume and the resources used to
realize it is about 1,22.
The employees costs represent the 19,32% 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 13.782 protested subjects are found; in the province
they count to 2.280.
The insolvency index for the region is 0,30, while for the
province it is 0,28.
Total Bankrupt companies in the province : 3.317.
Total Bankrupt companies in the region : 16.714.
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 |
|