MIRA
INFORM REPORT
|
Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
Raumer Bulgaria
Trade S.r.l. Abbreviabile r |
|
|
|
|
Registered Office : |
Via Santa Margherita, 23 12051 - Alba (CN) -IT |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
01/02/2005 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of haberdashery and passementerie. |
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 : |
93.000 - Eur |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
name & address
Raumer
Via
Santa Margherita, 23
12051 - Alba (CN) -IT-
SUMMARY
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
Start of Activities |
: |
01/02/2005 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
|
: |
35.000.000/50.000.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
93.000 - Eur |
ACTIVITY
Wholesale of haberdashery and passementerie.
LEGAL DATA
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 03021340041 |
|
Foreign Trade Reg. no. : CN025933 since 02/02/2005 |
|
Chamber of Commerce no. : 255921 of |
|
Chamber of Commerce no. : 307337 of |
|
Establishment Date |
: 22/12/2004 |
|
|
Start of Activities |
: 01/02/2005 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 4.000.000 |
Eur |
|
Subscribed Capital |
: 4.000.000 |
Eur |
|
Paid up Capital |
: 4.000.000 |
Eur |
MEMBERS
|
Ressia |
Oreste |
|
Born in Bra |
(CN) |
on 30/10/1946 |
- Fiscal Code : RSSRST46R30B111L |
|
Residence : |
Strada |
Bria |
, 93 |
- 12042 |
Bra |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
|
|
|
No Protests registered.
|
Gattiglia |
Remo |
|
Born in Genova |
(GE) |
on 18/03/1953 |
- Fiscal Code : GTTRME53C18D969X |
|
Residence : |
Via |
Santa Margherita |
, 23 |
- 12051 |
Alba |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/01/2005 |
|
|
No Protests registered.
|
Sona |
Ubertino Lorenzo |
|
Born in Sommariva del Bosco |
(CN) |
on 09/06/1952 |
- Fiscal Code : SNOBTN52H09I822V |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/01/2005 |
|
|
No Protests registered.
|
Ressia |
Oreste |
|
Born in Alba |
(CN) |
on 30/10/1946 |
- Fiscal Code : RSSRST46R30B111L |
|
Residence : |
Via |
Santa Margherita |
, 23 |
- 12051 |
Alba |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/01/2005 |
|
|
No Protests registered.
|
Taricco |
Giovanni |
|
Born in Corneliano d'Alba |
(CN) |
on 03/06/1946 |
- Fiscal Code : TRCGNN46H03D022V |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
22/12/2004 |
|
|
No Protests registered.
|
Bertolino |
Giuseppe |
|
Born in Saluzzo |
(CN) |
on 27/02/1951 |
- Fiscal Code : BRTGPP51B27H727B |
|
Residence : |
Via |
Santa Margherita |
, 23 |
- 12051 |
Alba |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
06/01/2005 |
|
|
No Protests registered.
|
E.miroglio Ad |
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
|
No Protests registered.
|
Gusi |
Stefano |
|
Born in Bassano del Grappa |
(VI) |
on 20/09/1967 |
- Fiscal Code : GSUSFN67P20A703P |
|
Residence : |
Via |
Dei Priuli |
, 27 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/03/2007 |
|
|
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.
|
RESSIA |
|
|
GATTIGLIA |
|
|
SONA |
|
|
RESSIA |
|
|
TARICCO |
|
|
BERTOLINO |
|
|
GUSI |
|
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 |
|
E.miroglio Ad |
|
|
4.000.000 .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 |
Santa Margherita |
, 23 |
- 12051 - |
Alba |
(CN) |
- IT - |
|
- |
Branch |
|
since 22/12/2004 |
in : |
|
|
|
|
|
Via |
Brandellero |
, 2 |
- 36036 - |
Torrebelvicino |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0445/595777 |
|
- |
Branch |
(Sales office ) |
since 01/01/2007 |
in : |
|
|
|
|
|
Strada |
Tagliata |
, 16 |
- 12051 - |
Alba |
(CN) |
- IT - |
|
|
|
|
PHONE |
: 0173/298111 |
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|
|
|
FAX |
: 0173/443538 |
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|
|
|
Employees |
: 30 |
|
|
|
|
Fittings and Equipment |
for a value of
911.546 |
Eur |
|
|
|
|
Stocks |
for a value of
11.403.368 |
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.
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
None reported in the name of the Firm.
FINANCIAL AND
ECONOMICAL ANALYSIS
Subject under review started the activities in 2005.
Last two financial years were marked by losses; in 2006 r.o.e. is -8,8%.
The operating result was positive in the last financial year (1,27%) and
reflects the field's average.
The ratio between debts and total assets is fairly high, as it comes out
from the indebtedness (7,27) increasing as against 2005.
The financial exposure is moderate, on the other hand the recourse to
commercial credit is high, with a high average payment period besides being
higher than sector's average.
Even liquidity range appears to be not completely sufficient.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
45.614.854 |
filed balance sheet |
|
Profit (Loss) for the period |
-305.994 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
24.878.616 |
filed balance sheet |
|
Profit (Loss) for the period |
-217.216 |
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 31/12/2006 - Months 12 - Currency Eur - Amounts x 1 |
|
Balance Sheet as
at 31/12/2005 - Months 12 - Currency Eur - Amounts x 1 |
|
Years |
|
|
2006 |
2005 |
|
|
BALANCE SHEET
ACCOUNTS |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
4.160.750 |
107.838 |
|
. Intangible assets |
|
|
16.543 |
10.058 |
|
. Tangible fixed assets |
|
|
4.144.207 |
97.780 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
|
|
|
|
|
. Long-term Investments |
|
|
|
|
|
. . Financial loans |
|
|
|
|
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
25.757.560 |
22.163.825 |
|
. Stock |
|
|
8.152.561 |
7.266.237 |
|
. Credits |
|
|
16.922.025 |
14.897.076 |
|
. . Credits to clients |
|
|
13.516.419 |
14.897.076 |
|
. . Other credits |
|
|
3.405.606 |
|
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
682.974 |
512 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
23.817 |
7.063 |
|
TOTAL ASSETS |
|
|
29.942.127 |
22.278.726 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
3.476.790 |
3.782.784 |
|
. Company's capital |
|
|
4.000.000 |
4.000.000 |
|
. Reserves |
|
|
|
|
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
-217.216 |
|
|
. Profit (loss) |
|
|
-305.994 |
-217.216 |
|
PROVISION CHARGES ACCOUNTS |
|
|
118.449 |
79.381 |
|
STAFF TERM INDEMNITY |
|
|
126.152 |
56.439 |
|
DEBTS |
|
|
25.984.111 |
18.360.122 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
|
|
|
. . Financial short-term banks |
|
|
|
|
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
25.736.818 |
|
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
247.293 |
|
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
236.625 |
|
|
TOTAL LIABILITIES |
|
|
29.942.127 |
22.278.726 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
46.613.704 |
32.221.219 |
|
. Revenues from sales/services |
|
|
45.614.854 |
24.878.616 |
|
. Change of stock (products) |
|
|
886.324 |
7.266.237 |
|
OPERATING EXPENSES |
|
|
46.230.503 |
32.198.031 |
|
. Purchasing expenses |
|
|
28.374.746 |
19.218.984 |
|
. Change of stock (raw material) |
|
|
|
|
|
. Expenses from services |
|
|
15.340.469 |
11.186.160 |
|
. Expenses from leasing |
|
|
248.623 |
263.950 |
|
. General expenses/sundry charges |
|
|
440.899 |
241.573 |
|
. Staff expenses |
|
|
1.587.122 |
1.220.806 |
|
. Depreciation/Devaluation costs |
|
|
238.644 |
66.558 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-619.060 |
-182.900 |
|
. Financial charges |
|
|
-622.850 |
-183.432 |
|
. Financial revenues |
|
|
3.790 |
532 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
25.433 |
-1.989 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
-210.426 |
-161.701 |
|
TAX |
|
|
95.568 |
55.515 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
-305.994 |
-217.216 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
|
0,86 |
35,60 |
2,51 |
|
Net Short-term indebtedness |
Units |
- 1 |
|
7,27 |
4,85 |
4,47 |
|
Current ratio |
Units |
=> 1 |
|
0,99 |
1,20 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
|
0,67 |
0,81 |
0,74 |
|
Return on Sales |
% |
|
|
- 0,14 |
- 0,60 |
1,72 |
|
Average stock waiting period |
dd |
|
|
64,33 |
105,12 |
82,72 |
|
Credits to clients average term |
dd |
|
|
106,66 |
215,53 |
97,73 |
|
Debts to suppliers average term |
dd |
|
|
210,74 |
200,00 |
140,00 |
|
Net financial revenues/ charges incidence |
% |
|
|
- 1,35 |
- 0,73 |
- 1,14 |
|
Labour cost incidence |
% |
|
|
3,47 |
4,90 |
7,68 |
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
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 18%, in respect of a sector
average of 29%.
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:
93.000 .Eur.
MARKET / TERRITORY
DATA
|
Population living in the province |
: |
569.987 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
SECTOR DATA
The values are calculated on a base of 2.235 significant companies.
The companies cash their credits on an average of 97 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 1,72%.
The labour cost affects the turnover in the measure of 7,68%.
Goods are held in stock in a range of 82 dd.
The difference between the sales volume and the resources used to
realize it is about 1,39.
The employees costs represent the 7,73% 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 27.019 protested subjects are found; in the province they
count to 1.458.
The insolvency index for the region is 0,63, while for the province it
is 0,26.
Total Bankrupt companies in the province : 1.299.
Total Bankrupt companies in the region : 14.165.
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%)