MIRA
INFORM REPORT
|
Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
MOLLIFICIO BORTOLUSSI - S.R.L. |
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Registered Office : |
Via Trieste, 93 33080 - Fiume Veneto (PN) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
03.12.1980 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Springs
production. Production
of forged or pressed chains without binding. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
279.400
- Eur |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
Mollificio
Bortolussi - S.r.l.
Via Trieste, 93
33080 - Fiume Veneto (PN) -IT-
SUMMARY
Fiscal Code : 00421510934
Legal Form : Limited Liability
Company
Start of Activities : 31/12/1980
Patrimonial Consistence : 2.500.000 Eur
Turnover Range : 6.500.000/7.750.000 Eur
Number of Employees : from 51 to 70
CREDIT ANALYSIS
CREDIT OPINION : 279.400 - Eur
ACTIVITY
Springs
production.
Production
of forged or pressed chains without binding.
LEGAL DATA
Legal
Form :
Limited liability company
Fiscal
Code :
00421510934
Chamber
of Commerce no. : 30352 of
Pordenone since 06/01/1981
Firms'
Register :
PN033-4748 since 19/02/1996
Foundation Date :
03/12/1980
Establishment Date :
03/12/1980
Start of Activities :
31/12/1980
Legal Duration Date : 31/12/2050
Nominal Capital : 520.000 Eur
Subscribed Capital : 520.000 Eur
Paid up Capital : 520.000 Eur
MEMBERS
Bortolussi Francesco
Born in Fiume Veneto on 15/12/1933 - Fiscal Code : BRTFNC33T15G888S
Residence : Via Trieste , 93 - 33080 Fiume Veneto (PN) - IT -
Position Since Shares Amount % Ownership
Director 30/06/1999
Board Chairman 30/06/1999
No
Protests registered.
Demonti Domenica
Irene
Born in Valdisotto on 28/09/1932 - Fiscal Code : DMNDNC32P68L563I
Residence : Via Trieste , 93 - 33080 Fiume Veneto (PN - IT -
Position Since Shares Amount % Ownership
Managing Director 30/06/1999
Director 30/06/1999
Assistant board Chairman 30/06/1999
No
Protests registered.
Bortolussi Franco
Born in Fiume Veneto on 30/12/1960 - Fiscal Code : BRTFNC60T30D621H
Residence : Via Trieste , 93 - 33080 Fiume Veneto (PN) - IT -
Position Since Shares Amount % Ownership
Managing Director 30/06/1999
Director 30/06/1999
No
Protests registered.
Bortolussi Claudio
Born in Fiume Veneto on 09/12/1966 - Fiscal Code : BRTCLD66T09G888S
Residence : Via Grigoletti , 3 - 33080 Fiume Veneto (PN) - IT -
Position Since Shares Amount % Ownership
Managing Director 30/06/1999
Director 30/06/1999
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.
Bortolussi Francesco
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
BORTOLUSSI FRANCESCO |
Fiume Veneto (PN) - IT - |
BRTFNC33T15G888S |
Proprietor |
Registered |
|
TRE-B S.R.L. |
Fiume Veneto (PN) - IT - |
01555970936 |
Director |
Registered |
Bortolussi Franco
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
TRE-B S.R.L. |
Fiume Veneto (PN) - IT - |
01555970936 |
Director |
Registered |
Bortolussi Claudio
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
TRE-B S.R.L. |
Fiume Veneto (PN) - IT - |
01555970936 |
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 |
|
Bortolussi Francesco |
Fiume Veneto - IT - |
BRTFNC33T15G888S |
384.800
.Eur |
74,00
|
|
Demonti Domenica Irene |
Fiume Veneto - IT - |
DMNDNC32P68L563I |
52.000
.Eur |
10,00
|
|
Bortolussi Franco |
Fiume Veneto - IT - |
BRTFNC60T30D621H |
41.600
.Eur |
8,00
|
|
Bortolussi Claudio |
Fiume Veneto - IT - |
BRTCLD66T09G888S |
41.600
.Eur |
8,00
|
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Pordenone Energia - Societa' Consortile
per Azioni |
|
01400720932 |
250
.Eur |
0,06
|
STRUCTURE AND COMPANY ACTIVITY
In order
to carry out its activities the firm uses the following locations:
- Legal and operative seat in :
Via Trieste , 93 - 33080 - Fiume Veneto (PN)- IT -
PHONE : 0434/959020
PHONE : 0434/958917
- Branch (Factory )since 02/05/2001 in :
Via Maestri Del Lavoro , 27 - 33080 - Fiume Veneto (PN)- IT -
Employees : 47
Assistants : 5
Fittings and Equipment for a value
of 526.000 Eur
Stocks for a value
of 1.508.000 Eur
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
Ex-Members
/ Ex-Positions
Bortolussi Francesco
Born in Fiume Veneto on 15/12/1933 - Fiscal Code : BRTFNC33T15G888S
Residence : Via Trieste , 93 - 33080
Fiume Veneto (PN) - IT -
Position
Chairman
RIBETTI ALESSANDRO
Born in LA SPEZIA on 22/10/1942 - Fiscal Code : RBTLSN42R22E463H
Residence : Via DEL CARABINIERE , 9
- 33170 Pordenone (PN) - IT -
Position
Temporary
Auditor
FERRARO ADRIANO
Born in PORDENONE on 22/01/1940 - Fiscal Code : FRRDRN40A22G888B
Residence : Via GABELLI , 70 -
33080 Porcia (PN)- IT –
Position
Temporary
Auditor
Former
seats
- Branch (Factory )since 17/09/2001
Via PONTEBBANA - ZONA INDUSTRIALE - 33080 - FIUME VENETO (PN)- IT -
PAYMENTS ANALYSIS
The
average term of debts to suppliers is shorter 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 |
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Banca Cattolica Veneto |
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Cassa Risparmio Udine Pordenone |
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Banca Popolare Pordenone |
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Banca Nazionale Lavoro |
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banca Commerciale Italiana |
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Credito Italiano |
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Cassa Rurale artigiana Azzano |
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IMMOVABLES *
*No
specific (mortgage/cadastrial registrations) inspections have been requested.
Immovable Type Value
Real estates 320.634 .Eur
NB.: For
Capital Companies the value of the Immovables is the one reported in the last
available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject
is active since 1980
Unstable
economic results mark the company's financial state of affairs. with a loss in
the last financial year.
A loss
is registered as to the operating result (-1,19%).
Company's
financial status is balanced since indebtedness is not high (1,06) even though
on the increase if compared to 2004.
Bank
exsposure is limited and the suppliers' credit is modest too, 80,78 gg. is the
payment average period below the sector's average.
The
management determines 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 |
7.613.740 |
filed balance sheet |
|
Profit (Loss) for the period |
-123.709 |
filed balance sheet |
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
|
Item Type |
Amount |
Source |
|
Sales |
7.450.657 |
filed balance sheet |
|
Profit (Loss) for the period |
113.336 |
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 ) |
|
|
966.363 |
1.002.002 |
|
. Intangible assets |
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|
58.538 |
34.177 |
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. Tangible fixed assets |
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|
903.016 |
965.079 |
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. . Land and buildings |
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|
320.634 |
348.932 |
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. . Plants, Equipm.and Machinery |
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|
525.800 |
529.373 |
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. Long-term Investments |
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|
4.809 |
2.746 |
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. . Financial loans |
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|
4.809 |
2.746 |
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. . Own shares |
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CURRENT ASSETS |
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4.175.257 |
3.813.604 |
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. Stock |
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1.507.778 |
1.303.236 |
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. Credits |
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|
2.667.384 |
2.052.861 |
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. . Credits to clients |
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2.524.672 |
2.001.294 |
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. . Other credits |
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|
142.712 |
51.567 |
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. Short-term financial assets |
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|
310.000 |
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. Liquid assets |
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|
95 |
147.507 |
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ACCRUED INCOME-DEFERR. ASSETS |
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|
79.235 |
76.100 |
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TOTAL ASSETS |
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|
5.220.855 |
4.891.706 |
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. |
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LIABILITIES |
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NET WORTH |
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2.093.283 |
2.216.993 |
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. Company's capital |
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|
520.000 |
520.000 |
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. Reserves |
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|
1.696.992 |
1.583.657 |
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. Reserves company's own shares |
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. Retained profits (losses) |
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. Profit (loss) |
|
|
-123.709 |
113.336 |
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PROVISION CHARGES ACCOUNTS |
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|
313.395 |
300.962 |
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STAFF TERM INDEMNITY |
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|
507.019 |
448.872 |
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DEBTS |
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|
2.239.263 |
1.872.377 |
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. Financial M/L terms |
|
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|
23.798 |
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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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|
23.798 |
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. Financial short-term debts |
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|
454.364 |
130.536 |
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. . Financial short-term banks |
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|
430.566 |
42.199 |
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. . Financial short-term bonds |
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. . Other financial short-term debts |
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|
23.798 |
88.337 |
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. M/L term debts to suppliers |
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. Short-term debts to suppliers |
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|
1.400.274 |
1.280.854 |
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. Sundry M/L debts |
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. Sundry short-term debts |
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|
384.625 |
437.189 |
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ACCRUED COSTS DEFERR. LIABILITIES |
|
|
67.895 |
52.502 |
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TOTAL LIABILITIES |
|
|
5.220.855 |
4.891.706 |
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. |
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PROFIT AND LOSS ACCOUNTS
|
OUTPUT VALUE |
|
|
7.661.525 |
7.539.619 |
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. Revenues from sales/services |
|
|
7.613.740 |
7.450.657 |
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. Change of stock (products) |
|
|
30.229 |
-28.416 |
|
OPERATING EXPENSES |
|
|
7.723.837 |
7.565.473 |
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. Purchasing expenses |
|
|
4.249.005 |
4.366.116 |
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. Change of stock (raw material) |
|
|
-174.314 |
-327.873 |
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. Expenses from services |
|
|
1.258.512 |
1.099.966 |
|
. Expenses from leasing |
|
|
731.467 |
630.973 |
|
. General expenses/sundry charges |
|
|
26.216 |
28.303 |
|
. Staff expenses |
|
|
1.413.461 |
1.382.108 |
|
. Depreciation/Devaluation costs |
|
|
219.490 |
385.880 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-3.070 |
3.167 |
|
. Financial charges |
|
|
-7.980 |
-6.784 |
|
. Financial revenues |
|
|
4.910 |
9.951 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
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EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
|
|
12.780 |
226.833 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
-52.602 |
204.146 |
|
TAX |
|
|
71.107 |
90.810 |
|
CORRECT./ALLOCAT. FISCAL RULE |
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|
NET PROFIT (LOSS) |
|
|
-123.709 |
113.336 |
RATIOS
|
|
Item |
O.V. |
O.V. |
as
at 31/12/2005 |
as
at 31/12/2004 |
Sector
Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
2,69 |
2,68 |
1,50 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
1,06 |
0,76 |
2,85 |
|
Current ratio |
Units |
=> 1 |
l |
1,86 |
2,06 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,19 |
1,35 |
0,93 |
|
Return on Sales |
% |
|
l |
1,25 |
6,70 |
4,75 |
|
Average stock waiting period |
dd |
|
l |
71,28 |
62,96 |
42,40 |
|
Credits to clients average term |
dd |
|
l |
119,34 |
96,69 |
133,34 |
|
Debts to suppliers average term |
dd |
|
l |
80,78 |
75,60 |
160,00 |
|
Net financial revenues/ charges incidence |
% |
|
l |
-
0,04 |
0,04 |
-
1,10 |
|
Labour cost incidence |
% |
|
l |
18,56 |
18,55 |
24,63 |
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.
RISK ANALYSIS (SCORE)
The
company under review falls within the range of low risk.
RELIABILITY SCORE
Considering
also subject's structural and behavioural characteristics its credit margin
rate (from 0 to 100%) is equal to 91%, 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:
279.400
.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 : 297.699
Population living in the region : 1.204.718
Number of families in the region : 516.349
Monthly
family expences average in the region (in Eur.) :
- per food products : 377
- per non food products : 1.727
- per energy consume : 114
SECTOR DATA
The
values are calculated on a base of 3.726 significant companies.
The
companies cash their credits on an average of 133 dd.
The
average duration of suppliers debts is about 160 dd.
The
sector's profitability is on an average of 4,75%.
The
labour cost affects the turnover in the measure of 24,63%.
Goods
are held in stock in a range of 42 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,15.
The
employees costs represent the 25,37% 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 3.901 protested subjects are found; in the province they count to 695.
The
insolvency index for the region is 0,33, while for the province it is 0,24.
Total
Bankrupt companies in the province : 1.260.
Total
Bankrupt companies in the region : 5.085.
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 |
|