MIRA
INFORM REPORT
|
Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
Sisa Mould Systems
- S.r.l. |
|
|
|
|
Registered Office : |
Via Goffredo Mameli, 11 20100 - Milano (MI) -IT |
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Country : |
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Financials (as on) : |
31.12.2005 |
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|
Date of Incorporation : |
04/01/2002 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Processing
related to metal working Foundry. Manufacturing and
installation of machines for plastics processing. |
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 : |
19.100 - Eur |
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|
|
|
Status : |
Moderate |
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|
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|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
name & address
Sisa Mould Systems - S.r.l.
Via
Goffredo Mameli, 11
20100 - Milano (MI) -IT-
SUMMARY
|
Legal Form |
: |
Limited liability
company |
|
Start of
Activities |
: |
04/01/2002 |
|
Patrimonial
Consistence |
: |
25.000 Eur |
|
|
: |
1.000.000/1.250.000
Eur |
|
Number of
Employees |
: |
from 11 to 15 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
19.100 - Eur |
ACTIVITY
Processing related
to metal working Foundry.
Manufacturing and installation
of machines for plastics processing.
LEGAL DATA
Legal Form :
Limited liability company
|
Register of
Handcraft firms : 361500 of Milano |
|
Fiscal Code :
03315430961 |
|
Foreign Trade
Reg. no. : MI323150 since 27/02/2002 |
|
Chamber of
Commerce no. : 1665605 of Milano since 12/11/2001 |
|
V.A.T. Code :
03315430961 |
|
Establishment
Date |
: 29/10/2001 |
|
|
Start of
Activities |
: 04/01/2002 |
|
|
Legal Duration
Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 50.000 |
Eur |
|
Subscribed
Capital |
: 50.000 |
Eur |
|
Paid up Capital |
: 50.000 |
Eur |
MEMBERS
|
Daffara |
Roberto |
|
Born in Milano |
(MI) |
on 03/10/1967 |
- Fiscal Code :
DFFRRT67R03F205Z |
|
Residence : |
Via |
Delle Rose |
, 2 |
- 20094 |
Corsico |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/10/2001 |
|
|
|
Board Chairman |
29/10/2001 |
|
|
No Protests
registered.
|
Daffara |
Alessandro |
|
Born in Milano |
(MI) |
on 15/10/1970 |
- Fiscal Code :
DFFLSN70R15F205T |
|
Residence : |
Via |
Ugo Foscolo |
, 24 |
- 20094 |
Corsico |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/10/2001 |
|
|
|
Assistant board
Chairman |
29/10/2001 |
|
|
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.
|
DAFFARA
ROBERTO |
|
|
DAFFARA
ALESSANDRO |
|
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 |
|
Daffara Pietro |
|
DFFPTR38L25G275G |
5.500 .Eur |
11,00 |
|
Daffara Roberto |
Corsico - IT - |
DFFRRT67R03F205Z |
24.500 .Eur |
49,00 |
|
Daffara
Alessandro |
Corsico - IT - |
DFFLSN70R15F205T |
20.000 .Eur |
40,00 |
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 |
Goffredo Mameli |
, 11 |
- 20129 - |
Milano |
(MI) |
- IT - |
|
- |
Branch |
(Factory ) |
since 04/01/2002 |
in : |
|
|
|
|
|
Via |
Ravello |
, 12 |
- 20080 - |
Vermezzo |
(MI) |
- IT - |
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PHONE |
: 02/9440430 |
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|
|
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FAX |
: 02/9449164 |
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|
|
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Employees |
: 13 |
|
|
|
|
Fittings and
Equipment |
for a value of 46.500 |
Eur |
|
|
|
|
Stocks |
for a value of 294.380 |
Eur |
PAYMENTS ANALYSIS
The average term of
debts to suppliers is higher than the sector one.
PAYMENTS SCORE : -
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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BANCO DI DESIO E
BRIANZA |
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|
|
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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 2002.
Last two financial
years were marked by losses; in 2005 r.o.e. is -231,93%. 2005 loss was also due
to a turnover decrease.
The operating
result is negative.
Financial condition
is not balanced as own capitals do not cover debts, indebtedness level is in
fact high (28,52) which is rising compared to 2004.
Payments average
period is high and higher than the sector.
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 |
1.183.461 |
filed balance
sheet |
|
Profit (Loss) for
the period |
-34.937 |
filed balance
sheet |
|
Complete
balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
1.564.107 |
filed balance
sheet |
|
Profit (Loss) for
the period |
-24.052 |
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 ) |
|
|
27.778 |
40.813 |
|
. Intangible
assets |
|
|
4.309 |
9.238 |
|
. Tangible fixed
assets |
|
|
21.560 |
30.018 |
|
. . Land and
buildings |
|
|
|
|
|
. . Plants,
Equipm.and Machinery |
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|
|
|
|
. Long-term
Investments |
|
|
1.909 |
1.557 |
|
. . Financial
loans |
|
|
1.909 |
1.557 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
589.743 |
482.740 |
|
. Stock |
|
|
99.800 |
46.637 |
|
. Credits |
|
|
476.531 |
434.672 |
|
. . Credits to
clients |
|
|
476.531 |
434.672 |
|
. . Other credits |
|
|
|
|
|
. Short-term
financial assets |
|
|
|
|
|
. Liquid assets |
|
|
13.412 |
1.431 |
|
ACCRUED
INCOME-DEFERR. ASSETS |
|
|
23.875 |
28.236 |
|
TOTAL ASSETS |
|
|
641.396 |
551.789 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
15.063 |
50.000 |
|
. Company's
capital |
|
|
50.000 |
50.000 |
|
. Reserves |
|
|
|
39.052 |
|
. Reserves
company's own shares |
|
|
|
|
|
. Retained
profits (losses) |
|
|
|
-15.000 |
|
. Profit (loss) |
|
|
-34.937 |
-24.052 |
|
PROVISION CHARGES
ACCOUNTS |
|
|
|
|
|
STAFF TERM
INDEMNITY |
|
|
153.099 |
141.509 |
|
DEBTS |
|
|
456.870 |
340.806 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L
term banks |
|
|
|
|
|
. . Financial M/L
bonds |
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|
|
|
|
. . Other
financial M/L debts |
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|
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|
. Financial
short-term debts |
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|
. . Financial
short-term banks |
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|
|
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. . Financial short-term
bonds |
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|
|
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. . Other
financial short-term debts |
|
|
|
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|
. M/L term debts
to suppliers |
|
|
|
|
|
. Short-term
debts to suppliers |
|
|
|
|
|
. Sundry M/L
debts |
|
|
|
|
|
. Sundry
short-term debts |
|
|
|
|
|
ACCRUED COSTS
DEFERR. LIABILITIES |
|
|
16.364 |
19.474 |
|
TOTAL
LIABILITIES |
|
|
641.396 |
551.789 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
1.223.550 |
1.572.749 |
|
. Revenues from
sales/services |
|
|
1.183.461 |
1.564.107 |
|
. Change of stock
(products) |
|
|
25.700 |
-22.156 |
|
OPERATING
EXPENSES |
|
|
1.224.783 |
1.563.611 |
|
. Purchasing
expenses |
|
|
541.067 |
819.337 |
|
. Change of stock
(raw material) |
|
|
-27.463 |
-28.852 |
|
. Expenses from
services |
|
|
226.485 |
255.256 |
|
. Expenses from
leasing |
|
|
83.231 |
94.263 |
|
. General
expenses/sundry charges |
|
|
2.324 |
5.777 |
|
. Staff expenses |
|
|
381.356 |
399.638 |
|
.
Depreciation/Devaluation costs |
|
|
17.783 |
18.192 |
|
FINANCIAL
REVENUES (CHARGES) |
|
|
-4.580 |
-4.884 |
|
. Financial
charges |
|
|
-4.580 |
-4.888 |
|
. Financial
revenues |
|
|
|
4 |
|
FINANCIAL ASSETS
CORRECTION |
|
|
|
|
|
EXTRAORDINARY
FINANCIAL REVENUES (CHARGES) |
|
|
|
|
|
PROFIT (LOSS) FOR
THE PERIOD |
|
|
-5.813 |
4.254 |
|
TAX |
|
|
29.124 |
28.306 |
|
CORRECT./ALLOCAT.
FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
-34.937 |
-24.052 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets
ratio |
Units |
=> 1 |
|
6,55 |
5,03 |
1,34 |
|
Net Short-term
indebtedness |
Units |
- 1 |
|
28,52 |
6,51 |
2,35 |
|
Current ratio |
Units |
=> 1 |
|
1,33 |
1,47 |
1,20 |
|
Acid Test
Ratio-Liquidity Ratio |
Units |
=> 1 |
|
1,10 |
1,33 |
0,86 |
|
Return on Sales |
% |
|
|
- 1,44 |
- 0,37 |
4,85 |
|
Average stock
waiting period |
dd |
|
|
30,34 |
10,72 |
44,02 |
|
Credits to
clients average term |
dd |
|
|
144,93 |
100,04 |
124,23 |
|
Debts to
suppliers average term |
dd |
|
|
180,00 |
90,00 |
140,40 |
|
Net financial
revenues/ charges incidence |
% |
|
|
- 0,38 |
- 0,31 |
- 1,11 |
|
Labour cost
incidence |
% |
|
|
32,22 |
25,55 |
22,07 |
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:
19.100 .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 458 significant companies.
The companies cash
their credits on an average of 124 dd.
The average
duration of suppliers debts is about 140 dd.
The sector's profitability
is on an average of 4,85%.
The labour cost
affects the turnover in the measure of 22,07%.
Goods are held in
stock in a range of 44 dd.
The difference
between the sales volume and the resources used to realize it is about 1,15.
The employees costs
represent the 22,53% of the production costs.
STATISTICAL
DETRIMENTAL DATA
Statistically 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 |
|
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%)