MIRA
INFORM REPORT
|
Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
CALZIFICIO DI PARABIAGO MARIO RE DEPAOLI NI S P A |
|
|
|
|
Registered Office : |
Via Santa Maria No. 60, 20015, Parabiago (Milano) |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
09.02.1946 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturers of knitwear, hosiery items, socks and stockings. |
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: |
203.000 - Eur |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
NAME AND ADDRESS
|
Calzificio Di Parabiago Mario Re Depaoli Ni - S.p.a. |
|
Via |
|
0060 |
|
20015 |
- Parabiago |
(MI) |
-IT- |
SUMMARY
|
Fiscal Code |
: |
00689920155 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
09/02/1946 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
|
: |
9.000.000/10.000.000 Eur |
|
Number of Employees |
: |
from 131 to 150 |
CREDIT ANALYSIS
CREDIT OPINION : 203.000 - Eur
ACTIVITY
Knitwear and
hosiery factory
Production of socks
and stockings
LEGAL DATA
Legal Form : Joint stock
company
|
Fiscal Code : 00689920155 |
|
Foreign Trade Reg. no. : MI158267 since 14/05/1992 |
|
Foreign Trade Reg. no. : 6234 of Milano |
|
Foreign Trade Reg. no. : 158267 of Milano since
14/05/1992 |
|
Chamber of Commerce no. : 341043 of Milano since 18/02/1946 |
|
Chamber of Commerce no. : 300407 of |
|
Firms' Register : MI146-52139
since 19/02/1996 |
|
V.A.T. Code : 00689920155 |
|
Court : 25139
of Milano |
|
Foundation Date |
:
09/02/1946 |
|
|
Establishment Date |
:
09/02/1946 |
|
|
Start of Activities |
:
09/02/1946 |
|
|
Legal Duration Date |
: 31/12/2030 |
|
|
Nominal Capital |
:
6.000.000 |
Eur |
|
Subscribed Capital |
: 6.000.000 |
Eur |
|
Paid up Capital |
: 6.000.000 |
Eur |
MEMBERS
|
Marazzini |
Ernesto |
|
Born in Parabiago |
(MI) |
on 15/04/1946 |
- Fiscal Code : MRZRST46D15G324K |
|
Residence : |
Via |
Duca Di Genova |
, 29 |
- 20015 |
Parabiago |
(MI) |
- IT - |
|
Position |
Since |
|
Managing Director |
02/05/2006 |
|
Director |
28/04/2006 |
No Protests
registered.
|
Musazzi |
Carla Maria |
|
Born in Parabiago |
(MI) |
on 14/09/1918 |
- Fiscal Code : MSZCLM18P54G324W |
|
Residence : |
Via |
|
, 36 |
- 20015 |
Parabiago |
(MI) |
- IT - |
|
Position |
Since |
|
Director |
28/04/2006 |
|
Board Chairman |
28/04/2006 |
No Protests
registered.
|
Corso |
Marco |
|
Born in Milano |
(MI) |
on 18/01/1968 |
- Fiscal Code : CRSMRC68A18F205T |
|
Residence : |
Via |
Cadore |
, 32 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
|
Director |
28/04/2006 |
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.
MARAZZINI ERNESTO
|
|
|
MUSAZZI CARLA MARIA
|
|
|
The indication "REGISTERED" as Firm Status could refer 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 |
|
SANPAOLO FIDUCIARIA S.P.A. O, PIU' BREVEMENTE, SANPAOLOFID
S.P.A. |
Milano - IT - |
08503890157 |
3.164.820 .Eur |
52,74 |
|
Musazzi Carla |
Parabiago - IT - |
MSZCRL18P54G324Z |
2.834.160 .Eur |
47,23 |
|
Marazzini Paola |
|
MRZPLA41T52G324F |
1.020 .Eur |
0,01 |
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 |
|
since 09/02/1946 |
in : |
|
|
|
|
|
Via |
|
, 0060 |
- 20015 - |
Parabiago |
(MI) |
- IT - |
|
|
|
|
TELEX |
: 331638 RED |
|
|
|
|
PHONE |
: 0331/550111 |
|
- |
Branch |
(Shop ) |
since 15/10/2005 |
in : |
|
|
|
|
|
Via |
Vespucci |
, 14 |
- 21013 - |
Gallarate |
(VA) |
- IT - |
|
|
|
|
Employees |
: 148 |
|
|
|
|
Fittings and Equipment |
for a value of 1.416.500 |
Eur |
|
|
|
|
Stocks |
for a value of
10.708.000 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
351.190 |
Eur |
|
|
|
|
Vehicles |
for a value of
191.089 |
Eur |
The firm operates
abroad as importer / exporter.
To purchase foreign
products the firm uses the following channels:
|
- direct orders to foreign companies |
Export represents
up to 20% of the global turnover.
Products abroad are
placed by:
|
- importers |
|
- its own sales net-work |
|
- its own agents |
Import comes
generally from the following nations:
|
- Francia |
Export is mainly
towards:
|
- Rep.di Guinea |
|
- Grecia |
HISTORICAL
INFORMATION AND/OR FIRM'S STATUS
Ex-Members / Ex-Positions
|
Rebecchi |
Guido |
|
Born in Milano |
on 23/04/1944 |
- Fiscal Code : RBCGDU44D23F382X |
|
Residence : |
Viale |
Vittorio |
, 24 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Msellati |
Daniel Elie |
|
Born in Algeri |
on 09/10/1933 |
- Fiscal Code : MSLDLL33R09Z301Z |
|
Residence : |
Via |
Sebastiano Del Piombo |
, 13 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Logaldo |
Francesco |
|
Born in SPEZZANO ALBANESE |
on 15/02/1945 |
- Fiscal Code : LGLFNC45B15I895O |
|
Residence : |
Via |
PACINI GIOVANNI |
, 40 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Musazzi |
Carla |
|
Born in Parabiago |
on 14/09/1918 |
- Fiscal Code : MSZCRL18P54G324Z |
|
Residence : |
Via |
S. Maria |
, 36 |
- 20015 |
Parabiago |
(MI) |
- IT - |
|
Position |
|
Managing Director |
|
Director |
|
Chairman and Managing Director |
|
Board Chairman |
|
|
Nicola |
|
Born in |
on 16/03/1931 |
- Fiscal Code : MSSNCL31C16E463C |
|
Residence : |
Corso |
|
, 50 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Del Col |
Mario |
|
Born in Milano |
on 24/11/1936 |
- Fiscal Code : DLCMRA36S24F205Y |
|
Residence : |
Via |
Stradivari Antonio |
, 4 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Marazzini |
Paola |
|
Born in Parabiago |
on 12/12/1941 |
- Fiscal Code : MRZPLA41T52G324F |
|
Position |
|
Procurator |
|
Rambaldi Guidassi |
Otello |
|
Born in |
|
Residence : |
Viale |
Vittorio |
, 0012 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Branch agent |
|
Corso |
Carlo |
|
Born in Legnano |
on 21/08/1931 |
- Fiscal Code : CRSCRL31M21E514G |
|
Residence : |
Via |
Castel Morrone |
, 18 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
PAYMENTS ANALYSIS
The average term of
debts to suppliers is normal compared with that of the sector.
PAYMENTS SCORE: -
No insolvency
CREDIT REVOLVING
The subject of
inquiry has been monitored by our company:
During the last
Month : n. 1 times
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
Banca
Nazionale Lavoro
Banca
Commerciale Italiana
IMMOVABLES
*No specific (mortgage/cadastral registrations) inspections have been
requested.
None reported in
the name of the Firm.
FINANCIAL AND
ECONOMICAL ANALYSIS
Subject is active
since 1946 Last two financial years were marked by losses; in 2005 r.o.e. is
-1, 15%. Downward sales in 2005 compared to the previous year. The return on
investment in the last financial year was negative
(-7, 45%). The
analysis shows a fair financial position as the indebtedness volume is
acceptable (1, 18) yet on the increase as against the previous accounting
period. The recourse to financial credit is within the limits; on the other
hand the recourse to suppliers' credit is rated as fairly high but lined up
with the field's average. 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 |
9.537.276 |
filed balance sheet |
|
Profit (Loss) for the period |
-74.971 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
12.744.125 |
filed balance sheet |
|
Profit (Loss) for the period |
-11.447 |
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 |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
1.941.395 |
1.899.962 |
|
. Intangible assets |
|
|
240.768 |
199.589 |
|
. Tangible fixed assets |
|
|
1.567.805 |
1.506.203 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipments and Machinery |
|
|
1.416.735 |
1.380.382 |
|
. Long-term Investments |
|
|
132.822 |
194.170 |
|
. . Financial loans |
|
|
132.822 |
194.170 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
16.166.941 |
17.916.414 |
|
. Stock |
|
|
10.707.869 |
9.445.413 |
|
. Credits |
|
|
5.442.628 |
8.386.671 |
|
. . Credits to clients |
|
|
5.059.607 |
8.126.442 |
|
. . Other credits |
|
|
383.021 |
260.229 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
16.444 |
84.330 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
26.391 |
204.993 |
|
TOTAL ASSETS |
|
|
18.134.727 |
20.021.369 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
6.510.407 |
6.585.376 |
|
. Company's capital |
|
|
6.000.000 |
6.000.000 |
|
. Reserves |
|
|
655.742 |
655.741 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
-70.364 |
-58.918 |
|
. Profit (loss) |
|
|
-74.971 |
-11.447 |
|
PROVISION CHARGES ACCOUNTS |
|
|
124.641 |
144.600 |
|
STAFF TERM INDEMNITY |
|
|
3.116.533 |
3.657.546 |
|
DEBTS |
|
|
7.854.940 |
9.096.108 |
|
. Financial M/L terms |
|
|
|
4.086.445 |
|
. . Financial M/L term banks |
|
|
|
4.086.445 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
3.456.468 |
974.864 |
|
. . Financial short-term banks |
|
|
3.404.822 |
923.218 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
51.646 |
51.646 |
|
. M/L term debts to suppliers |
|
|
134.600 |
151.425 |
|
. Short-term debts to suppliers |
|
|
3.338.240 |
2.464.859 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
925.632 |
1.418.515 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
528.206 |
537.739 |
|
TOTAL LIABILITIES |
|
|
18.134.727 |
20.021.369 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
10.799.250 |
12.081.042 |
|
. Revenues from sales/services |
|
|
9.537.276 |
12.744.125 |
|
. Change of stock (products) |
|
|
1.126.636 |
-762.099 |
|
OPERATING EXPENSES |
|
|
12.151.960 |
12.985.575 |
|
. Purchasing expenses |
|
|
5.360.254 |
5.195.726 |
|
. Change of stock (raw material) |
|
|
-135.820 |
323.889 |
|
. Expenses from services |
|
|
2.580.620 |
2.466.691 |
|
. Expenses from leasing |
|
|
213.003 |
205.969 |
|
. General expenses/sundry charges |
|
|
131.831 |
96.052 |
|
. Staff expenses |
|
|
3.612.153 |
4.330.616 |
|
. Depreciation/Devaluation costs |
|
|
389.919 |
366.632 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-146.031 |
-142.414 |
|
. Financial charges |
|
|
-160.800 |
-161.074 |
|
. Financial revenues |
|
|
14.769 |
18.660 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
1.521.246 |
1.187.563 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
22.505 |
140.616 |
|
TAX |
|
|
97.476 |
152.063 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
-74.971 |
-11.447 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
5,02 |
7,62 |
1,97 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
1,18 |
0,72 |
3,20 |
|
Current ratio |
Units |
=> 1 |
l |
2,09 |
3,68 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,70 |
1,74 |
0,84 |
|
Return on Sales |
% |
|
l |
3,30 |
2,78 |
2,09 |
|
Average stock waiting period |
dd |
|
l |
404,17 |
266,79 |
65,05 |
|
Credits to clients average term |
dd |
|
l |
190,98 |
229,53 |
120,48 |
|
Debts to suppliers average term |
dd |
|
l |
153,32 |
119,70 |
131,57 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,53 |
- 1,11 |
- 1,55 |
|
Labour cost incidence |
% |
|
l |
37,87 |
33,98 |
13,15 |
O.V. = Optimal Value. When not present refer to the sectors.
A coloured item indicates the opinion of the rate during the last
financial year
(Green=good; orange=not optimal; red=insufficient;
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:
203.000 .Eur.
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
expenses 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 780 significant companies.
The companies cash
their credits on an average of 120 dd.
The average
duration of suppliers’ debts is about 131 dd.
The sector's profitability
is on an average of 2, 09%.
The labour cost
affects the turnover in the measure of 13, 15%.
Goods are held in
stock in a range of 65 dd.
The difference
between the sales volume and the resources used to realize it is about 1, 22.
The employees costs
represent the 13, 35% of the production costs.
STATISTICAL
DETRIMENTAL DATA
Statistically the
trade activity passes through serious crises.
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 |
|
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%)