MIRA
INFORM REPORT
|
Report Date : |
09.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
Ecafil Best Spa
Industria Filati |
|
|
|
|
Registered Office : |
Via Brunelleschi, 3 50047
– |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
15/01/1996 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Combing of other textile fibres by wool system. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
268.600 - Eur |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
NAME & ADDRESS
Ecafil Best Spa Industria Filati
Via
Brunelleschi, 3
50047 -
SUMMARY
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
15/01/1996 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
|
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
268.600 - Eur |
ACTIVITY
Combing of other textile fibres by wool system.
LEGAL DATA
Legal Form : Joint stock company
|
Fiscal Code : 01626630485 |
|
Chamber of Commerce no. : 282465 of |
|
Chamber of Commerce no. : 465778 of |
|
Firms' Register : PO-1997-1140 since 21/01/1997 |
|
V.A.T. Code : 01729180974 |
|
Court : 571179 of |
|
Foundation Date |
: 05/04/1979 |
|
|
Establishment Date |
: 05/04/1979 |
|
|
Start of Activities |
: 15/01/1996 |
|
|
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
|
Livi |
Giampiero |
|
Born in |
(FI) |
on 31/12/1956 |
- Fiscal Code : LVIGPR56T31G999H |
|
Residence : |
Via |
G. Bruno |
, 67 |
- 50047 |
|
( |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
10/01/2006 |
|
|
No Protests registered.
|
Cappellini |
Francesco |
|
Born in |
(FI) |
on 17/11/1971 |
- Fiscal Code : CPPFNC71S17G999Z |
|
Residence : |
Via |
Del Romito |
, 29 |
- 59100 |
|
( |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditor |
07/07/2006 |
|
|
No Protests registered.
|
Meoni |
Stefano |
|
Born in Agliana |
(PT) |
on 09/01/1961 |
- Fiscal Code : MNESFN61A09A071A |
|
Residence : |
Via |
Castello Biagini |
, 36 |
- 51039 |
Quarrata |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
04/12/2006 |
|
|
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.
|
LIVI |
|
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 |
|
Cafissi Edo |
|
CFSDEO27H19G999A |
600.000 .Eur |
60,00 |
|
Livi Giampiero |
|
LVIGPR56T31G999H |
100.000 .Eur |
10,00 |
|
CAFISSI SIMONETTA |
|
CFSSNT57H61G999X |
300.000 .Eur |
30,00 |
|
CAFISSI SIMONETTA |
|
CFSSNT57H61G999X |
600.000 .Eur |
60,00 |
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 |
|
since 05/04/1979 |
in : |
|
|
|
|
|
Via |
Brunelleschi |
, 3 |
- 50047 - |
|
( |
- IT - |
|
|
|
|
PHONE |
: 055/8877351 |
|
|
|
|
FAX |
: 055/8878618 |
|
- |
Branch |
(Factory ) |
since 24/07/1996 |
in : |
|
|
|
|
|
Via |
Meucci |
- 50041 - |
Calenzano |
(FI) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 01/01/1998 |
in : |
|
|
|
|
|
Via |
Paisiello |
, 17/INT.B |
- 50041 - |
Calenzano |
(FI) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 01/07/2000 |
in : |
|
|
|
|
|
Via |
Paisiello |
, 17/C |
- 50041 - |
Calenzano |
(FI) |
- IT - |
|
|
|
|
Employees |
: 35 |
|
|
|
|
Fittings and Equipment |
for a value of
518.000 |
Eur |
|
|
|
|
Stocks |
for a value of
4.464.500 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
15.493 |
Eur |
|
|
|
|
Vehicles |
for a value of
118.785 |
Eur |
Trade organization: direct or by agents.
The subject works in
The firm operates abroad as importer / exporter.
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
Import comes generally from the following nations:
|
- |
|
- Belgio |
|
- |
|
- Spagna |
|
- Francia |
|
- Gran Bretagna |
|
- Olanda |
|
- Svizzera |
Export is mainly towards:
|
- Francia |
|
- Gran Bretagna |
|
- Irlanda |
|
- |
|
- |
HISTORICAL
INFORMATION AND/OR FIRM'S
STATUS
|
Company Style modifications |
|
Former Style |
New Style |
Changement Date |
|
E.Ca.Fil S.p.A. Industria Filati |
Ecafil Best S.p.A. Industria Filati |
23/11/1992 |
|
Ex-Members /
Ex-Positions |
|
Biancalani |
Paolo |
|
Born in |
on 07/10/1958 |
- Fiscal Code : BNCPLA58R07G999K |
|
Residence : |
Via |
Galuppi |
, 6 |
- 59100 |
|
( |
- IT - |
|
Position |
|
Temporary Auditor |
|
Cafissi |
|
|
Born in |
on 19/06/1927 |
- Fiscal Code : CFSDEO27H19G999A |
|
Residence : |
Via |
C. Abba |
, 20 |
- 50047 |
|
( |
- IT - |
|
Position |
|
Attorney with special power |
|
Board Chairman |
|
Checchi |
Aldo |
|
Born in |
on 06/08/1942 |
- Fiscal Code : CHCLDA42M06G999G |
|
Residence : |
Viale |
Galilei |
, 47 |
- 50047 |
|
( |
- IT - |
|
Position |
|
Managing Director |
|
Locoli |
Sergio |
|
Born in EMPOLI |
on 21/12/1951 |
- Fiscal Code : LCLSRG51T21D403N |
|
Residence : |
Via |
MONTELUPO |
, 121 |
- 50025 |
Montespertoli |
(FI) |
- IT - |
|
Position |
|
Managing Director |
|
Cafissi |
Elisabetta |
|
Born in |
on 13/06/1953 |
- Fiscal Code : CFSLBT53H53G999Y |
|
Residence : |
Via |
B. Croce |
, 46 |
- 50047 |
|
( |
- IT - |
|
Position |
|
Managing Director |
|
Livi |
Giampiero |
|
Born in |
on 31/12/1956 |
- Fiscal Code : LVIGPR56T31G999H |
|
Residence : |
Via |
G. Bruno |
, 67 |
- 50047 |
|
( |
- IT - |
|
Position |
|
Managing Director |
|
Managing Director |
|
Cappellini |
Francesco |
|
Born in |
on 17/11/1971 |
- Fiscal Code : CPPFNC71S17G999Z |
|
Residence : |
Via |
Del Romito |
, 29 |
- 59100 |
|
( |
- IT - |
|
Former seats |
|
- |
Branch |
(Factory ) |
since 24/07/1996 |
|
|
|
|
|
Via |
Meucci |
- 50041 |
- Calenzano |
(FI) |
- IT - |
|
- |
Branch |
(Warehouse ) |
since 01/01/1998 |
|
|
|
|
|
Via |
Paisiello |
- 50041 |
- Calenzano |
(FI) |
- IT - |
|
The firm absorbed by merging of |
|
Ecafil Best Srl - Filati Pregiati |
|
Via |
Di Pagnelle |
, 25 |
, 50041 |
, Calenzano |
(FI) |
- IT - |
|
Fiscal Code: 04131700488 |
|
Date |
: |
27/07/1993 |
PAYMENTS ANALYSIS
The average term of debts to suppliers is shorter than the sector one.
PAYMENTS SCORE : - No insolvency
CREDIT REVOLVING
The subject of inquiry has been monitored by our company:
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 |
|
CARIPRATO-CASSA DI RISPARMIO |
|
|
|
|
6020 |
0 |
|
BANCA TOSCANA S. P. A. |
|
|
|
|
3400 |
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
|
Immovable Type |
Value |
|
Real estates |
563.111 .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 1979
During the last years, it recorded positive net results (r.o.e. 8,79% in
2005) and with an upward trend in turnover trend during the last financial year
(+13,27% in 2005).
The operating result in 2005 was positive (3,34%) falling within the
field's average.
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 6,05 which is also improving if
compared to the previous year.
Financial debts as well as debts to suppliers are rather high even if it
is lower than the sector's average.
Liquidity is not excellent.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
23.284.048 |
filed balance sheet |
|
Profit (Loss) for the period |
286.907 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
20.555.244 |
filed balance sheet |
|
Profit (Loss) for the period |
144.259 |
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 ) |
|
|
9.412.932 |
7.759.826 |
|
. Intangible assets |
|
|
298.993 |
340.286 |
|
. Tangible fixed assets |
|
|
676.571 |
888.687 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
|
|
517.871 |
637.514 |
|
. Long-term Investments |
|
|
8.437.368 |
6.530.853 |
|
. . Financial loans |
|
|
1.891.877 |
215.611 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
16.072.650 |
16.699.006 |
|
. Stock |
|
|
4.464.407 |
5.319.204 |
|
. Credits |
|
|
11.575.409 |
11.130.310 |
|
. . Credits to clients |
|
|
9.582.194 |
9.632.338 |
|
. . Other credits |
|
|
1.993.215 |
1.497.972 |
|
. Short-term financial assets |
|
|
|
150.018 |
|
. Liquid assets |
|
|
32.834 |
99.474 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
|
|
|
TOTAL ASSETS |
|
|
25.485.582 |
24.458.832 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
3.260.478 |
2.973.575 |
|
. Company's capital |
|
|
1.000.000 |
1.000.000 |
|
. Reserves |
|
|
1.973.571 |
1.829.316 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
286.907 |
144.259 |
|
PROVISION CHARGES ACCOUNTS |
|
|
82.918 |
128.154 |
|
STAFF TERM INDEMNITY |
|
|
416.278 |
347.537 |
|
DEBTS |
|
|
21.725.908 |
21.009.566 |
|
. Financial M/L terms |
|
|
1.962.485 |
9.501.698 |
|
. . Financial M/L term banks |
|
|
1.444.095 |
9.004.513 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
518.390 |
497.185 |
|
. Financial short-term debts |
|
|
13.062.521 |
4.243.007 |
|
. . Financial short-term banks |
|
|
12.892.593 |
4.243.007 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
169.928 |
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
5.419.249 |
6.122.502 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
1.281.653 |
1.142.359 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
|
|
|
TOTAL LIABILITIES |
|
|
25.485.582 |
24.458.832 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
23.692.684 |
21.428.218 |
|
. Revenues from sales/services |
|
|
23.284.048 |
20.555.244 |
|
. Change of stock (products) |
|
|
-952.682 |
-67.061 |
|
OPERATING EXPENSES |
|
|
22.840.461 |
20.846.270 |
|
. Purchasing expenses |
|
|
9.157.292 |
7.409.117 |
|
. Change of stock (raw material) |
|
|
-97.886 |
-9.010 |
|
. Expenses from services |
|
|
11.298.832 |
11.141.374 |
|
. Expenses from leasing |
|
|
271.562 |
282.117 |
|
. General expenses/sundry charges |
|
|
265.080 |
222.122 |
|
. Staff expenses |
|
|
1.670.310 |
1.525.047 |
|
. Depreciation/Devaluation costs |
|
|
275.271 |
275.503 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-140.282 |
-125.692 |
|
. Financial charges |
|
|
-140.282 |
-125.692 |
|
. Financial revenues |
|
|
|
|
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-5.411 |
3.164 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
706.530 |
459.420 |
|
TAX |
|
|
419.623 |
315.161 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
286.907 |
144.259 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
|
0,59 |
1,65 |
1,76 |
|
Net Short-term indebtedness |
Units |
- 1 |
|
6,05 |
3,83 |
2,50 |
|
Current ratio |
Units |
=> 1 |
|
0,81 |
1,45 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
|
0,58 |
0,98 |
0,81 |
|
Return on Sales |
% |
|
|
2,41 |
2,04 |
2,17 |
|
Average stock waiting period |
dd |
|
|
69,01 |
93,13 |
71,35 |
|
Credits to clients average term |
dd |
|
|
148,14 |
168,69 |
128,58 |
|
Debts to suppliers average term |
dd |
|
|
94,10 |
117,03 |
134,18 |
|
Net financial revenues/ charges incidence |
% |
|
|
- 0,60 |
- 0,61 |
- 1,55 |
|
Labour cost incidence |
% |
|
|
7,17 |
7,41 |
13,53 |
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;
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:
268.600 .Eur.
MARKET / TERRITORY
DATA
|
Population living in the province |
: |
238.826 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
SECTOR DATA
The values are calculated on a base of 530 significant companies.
The companies cash their credits on an average of 128 dd.
The average duration of suppliers debts is about 134 dd.
The sector's profitability is on an average of 2,17%.
The labour cost affects the turnover in the measure of 13,53%.
Goods are held in stock in a range of 71 dd.
The difference between the sales volume and the resources used to
realize it is about 1,05.
The employees costs represent the 13,62% of the production costs.
STATISTICAL
DETRIMENTAL DATA
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.055.
The insolvency index for the region is 0,70, while for the province it
is 0,88.
Total Bankrupt companies in the province : 3.109.
Total Bankrupt companies in the region : 20.423.
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%)