MIRA
INFORM REPORT
|
Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
ROSSI
MOTORIDUTTORI S.P.A. |
|
|
|
|
Registered Office : |
Via Emilia Ovest, 915/A 41100 –
Modena (MO) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
02.11.1983 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
General
mechanic. Manufacture
of transmission mechanisms |
RATING
& COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
1.124.800 - Eur |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company Name & Address
|
Rossi Motoriduttori S.p.a. |
|
Via |
Emilia Ovest, |
915/A |
|
41100 |
- Modena |
(MO) |
-IT- |
SUMMARY
|
Fiscal Code |
: |
07184950157 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
20/07/1988 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
75.000.000/100.000.000 Eur |
|
Number of Employees |
: |
from 251 to 500 |
CREDIT ANALYSIS
|
CREDIT
OPINION |
: |
1.124.800
- Eur |
|
Score |
: |
Risk
low |
|
Creditworthness
Rate |
: |
(Excellent) |
|
|
|
Financial/patrimonial
analysis very good - Credit with very low risk |
|
|
|
n.b.:
The Creditworthness Rate shows, in percentage, the ratio between the
suggested credit opinion and the credit amount that the firm could get if the
financial situation would be completely positive. |
ACTIVITY
General
mechanic.
Manufacture
of transmission mechanisms.
LEGAL DATA
Legal
Form : Joint stock company
|
Fiscal Code : 07184950157 |
|
Foreign Trade Reg. no. : 3648 of
Modena since 17/12/1991 |
|
Chamber of Commerce no. :
1143375 of Milano |
|
Chamber of Commerce no. : 247959
of Modena since 26/10/1988 |
|
Chamber of Commerce no. : 218507
of Padova |
|
Chamber of Commerce no. : 729156
of Torino |
|
Firms' Register : MO023-29555
since 19/02/1996 |
|
Court : 29555 of Modena since
17/10/1988 |
|
Foundation Date |
: 02/11/1983 |
|
|
Establishment Date |
: 02/11/1983 |
|
|
Start of Activities |
: 20/07/1988 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 3.100.000 |
Eur |
|
Subscribed Capital |
: 3.100.000 |
Eur |
|
Paid up Capital |
: 3.100.000 |
Eur |
MEMBERS
|
CONSULAUDIT S.P.A. |
|
|
- Fiscal Code : 01213510017 |
|
Via |
XX Settembre |
, 3 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditing company |
11/01/2005 |
|
|
|
Rossi |
Deanna |
|
Born in Modena |
on 01/05/1941 |
- Fiscal Code : RSSDNN41E41F257Z |
|
Residence : |
Via |
Emilia Ovest |
, 915 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/11/2004 |
|
|
|
Procurator |
11/11/2004 |
|
|
|
Memb.of the Executive Committee |
30/05/2006 |
|
|
No
Protests registered.
|
Habegger |
Thomas Sidney |
|
Born in Sechsdrei |
on 13/02/1963 |
- Fiscal Code : HBGTMS63B13Z133T |
|
Residence : |
Via |
Im Saebelacker |
, 2 |
Biel-benken Bl |
- CH - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/11/2004 |
|
|
No
Protests registered.
|
Volpi |
Giovanni |
|
Born in Lucca |
on 16/05/1935 |
- Fiscal Code : VLPGNN35E16E715F |
|
Residence : |
Via |
Le Mura |
, 1 |
- 50025 |
Montespertoli |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/11/2004 |
|
|
|
Memb.of the Executive Committee |
30/05/2006 |
|
|
|
Board Chairman |
03/11/2004 |
|
|
No
Protests registered.
|
Greco |
Vero Maria |
|
Born in Nardo' |
on 25/10/1939 |
- Fiscal Code : GRCVMR39R25F842J |
|
Residence : |
Via |
Carlo Sigonio |
, 5 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/11/2004 |
|
|
|
Managing Director |
03/11/2004 |
|
|
|
Memb.of the Executive Committee |
30/05/2006 |
|
|
No
Protests registered.
|
Fracassini |
Paolo |
|
Born in Carpi |
on 02/01/1965 |
- Fiscal Code : FRCPLA65A02B819S |
|
Residence : |
Via |
Della Zuanna |
, 19 |
- 41019 |
Soliera |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
24/03/2004 |
|
|
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.
|
ROSSI |
|
|
DEANNA Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
BANCA POPOLARE DELL'EMILIA ROMAGNA, SOCIETA' COOPERATIVA |
Modena (MO) - IT - |
01153230360 |
Director |
Registered |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Managing Director |
Registered |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Director |
Registered |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Board Chairman |
Registered |
|
FINPROGETTI FINANZIARIA PRIVATA DI PARTECIPAZIONI SOCIETA' PER AZIONI
IN FORMA |
Milano (MI) - IT - |
06323490588 |
Director |
Registered |
|
G.R. IND. - S.R.L. |
Modena (MO) - IT - |
00217550367 |
Institor |
Ceased |
|
GRIM - SOCIETA' PER AZIONI |
Modena (MO) - IT - |
00884450362 |
Sole Director |
Ceased |
|
GRIM S.P.A. |
Modena (MO) - IT - |
01664530365 |
Sole Director |
Registered |
|
GRIM S.P.A. |
Modena (MO) - IT - |
01664530365 |
Procurator |
Registered |
|
ROSSI MOTORIDUTTORI S.P.A. |
Modena (MO) - IT - |
00095530366 |
Chairman |
Ceased |
|
ROSSI MOTORIDUTTORI S.P.A. |
Modena (MO) - IT - |
00095530366 |
Managing Director |
Ceased |
|
VOLPI |
|
|
GIOVANNI Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
COBELT - S.R.L. |
Valdengo (BI) - IT - |
01315060028 |
Vice-Chairman |
Ceased |
|
COBELT - S.R.L. |
Valdengo (BI) - IT - |
01315060028 |
Director |
Ceased |
|
HABASIT ENGINEERING SRL |
Milano (MI) - IT - |
09083880154 |
Board Chairman |
Ceased |
|
HABASIT ITALIANA S.P.A. |
Cesano Boscone (MI) - IT - |
03214700159 |
Director |
Registered |
|
HABASIT ITALIANA S.P.A. |
Cesano Boscone (MI) - IT - |
03214700159 |
Attorney General |
Registered |
|
HABASIT ITALIANA S.P.A. |
Cesano Boscone (MI) - IT - |
03214700159 |
Procurator |
Registered |
|
HABASIT ITALIANA S.P.A. |
Cesano Boscone (MI) - IT - |
03214700159 |
Manager |
Registered |
|
HABASIT ITALIANA S.P.A. |
Cesano Boscone (MI) - IT - |
03214700159 |
Board Chairman |
Registered |
|
PLASTOMECCANICA - S.P.A. |
Vittorio Veneto (TV) - IT - |
01158750263 |
Board Chairman |
Ceased |
|
PLASTOMECCANICA S.P.A. |
Vittorio Veneto (TV) - IT - |
00322150269 |
Director |
Registered |
|
GRECO |
|
|
VERO MARIA Company Style |
Legal Seat |
Fiscal Code |
Position |
Firm Status |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Managing Director |
Registered |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Director |
Registered |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Managing Director |
Registered |
|
FINGREG S.P.A. |
Modena (MO) - IT - |
03707250159 |
Board Chairman |
Registered |
|
G.R. IND. - S.R.L. |
Modena (MO) - IT - |
00217550367 |
Institor |
Ceased |
|
G.R.R. SOCIETA' A RESPONSABILITA' LIMITATA IN LIQUIDAZIONE |
Modena (MO) - IT - |
01561820364 |
Liquidator |
Ceased |
|
ROSSI MOTORIDUTTORI S.P.A. |
Modena (MO) - IT - |
00095530366 |
Managing Director |
Ceased |
|
SALENTINA MECCANICA INDUSTRIALE - S.ME.I. S.P.A. |
Lecce (LE) - IT - |
00231500752 |
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 |
|
UNIONE FIDUCIARIA SPA SOCIETA' FIDUCIARIA
E DI SERVIZI DELLE BANCHE POPOLARI ITA |
Milano - IT - |
01513210151 |
1.860.000 .Eur |
60,00 |
|
Habasit Holding Ag |
|
|
1.240.000 .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 |
Emilia Ovest |
, 915/A |
- 41100 - |
Modena |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 059/330288 |
|
|
|
|
FAX |
: 059/827774 |
|
- |
Branch |
(Workshop ) |
since 23/12/1988 |
in : |
|
|
|
|
|
Via |
F. Bellotti |
, 67/69 |
- 41100 - |
Modena |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 059/330288 |
|
- |
Branch |
(Factory ) |
since 01/09/1989 |
in : |
|
|
|
|
|
Strada |
Nazionale Per Carpi |
, 1365 |
- 41100 - |
Modena |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 059/330288 |
|
- |
Branch |
(Sales office ) |
since 20/07/1988 |
in : |
|
|
|
|
|
Via |
Palermo |
, 28/30 |
- 20094 - |
Assago |
(MI) |
- IT - |
|
- |
Branch |
|
in : |
|
|
|
|
|
Via |
Savelli |
, 120 |
- 35100 - |
Padova |
(PD) |
- IT - |
|
|
|
|
PHONE |
: 049/8073387 |
|
- |
Branch |
(Workshop ) |
since 01/08/1998 |
in : |
|
|
|
|
|
Via |
Bellotti 66/68 |
, 70/72 |
- 41100 - |
Modena |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 059/330288 |
|
- |
Branch |
(Factory ) |
since 01/05/2000 |
in : |
|
|
|
|
|
Via |
Emilia Ovest |
, 1005 |
- 41100 - |
Modena |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 059/330288 |
|
- |
Branch |
(Factory ) |
since 01/02/2005 |
in : |
|
|
|
|
|
Bellotti |
, 15 |
- 41100 - |
Modena |
(MO) |
- IT - |
|
|
|
|
Employees |
: 495 |
|
|
|
|
Fittings and Equipment |
for a value of 7.947.000 |
Eur |
|
|
|
|
Stocks |
for a value of 10.567.500 |
Eur |
Sells
by agents with warehouse.
Sales
area on a national scale.
|
|
To
purchase foreign products the firm uses the following channels :
|
- distributors |
Products
abroad are placed by :
|
- importers |
|
- its own sales net-work |
|
- its own foreign branches |
|
- direct orders from foreign
companies |
Import
comes generally from the following nations:
|
- Gran Bretagna |
|
- Germania |
HISTORICAL INFORMATION AND/OR FIRM'S STATUS
|
Company Style modifications |
|
Former Style |
New Style |
Changement Date |
|
Mibre S.p.a. |
|
22/12/1988 |
|
Ex-Members / Ex-Positions |
|
Greco |
Rita |
|
Born in MODENA |
on 10/02/1965 |
- Fiscal Code : GRCRTI65B50F257E |
|
Residence : |
Via |
C. SIGONIO |
, 5 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Director |
|
Greco |
Luca |
|
Born in MODENA |
on 03/05/1969 |
- Fiscal Code : GRCLCU69E03F257P |
|
Residence : |
Via |
BUON PASTORE |
, 210 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Director |
|
Monducci |
Mario |
|
Born in Reggio Emilia |
on 02/05/1950 |
- Fiscal Code : MNDMRA50E02H223C |
|
Residence : |
Via |
Dante Alighieri |
, 21 |
- 42100 |
Reggio Emilia |
(RE) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Rossi |
Deanna |
|
Born in Modena |
on 01/05/1941 |
- Fiscal Code : RSSDNN41E41F257Z |
|
Residence : |
Via |
Emilia Ovest |
, 915 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Chairman and Managing Director |
|
Managing Director |
|
Board Chairman |
|
Greco |
Vero Maria |
|
Born in Nardo' |
on 25/10/1939 |
- Fiscal Code : GRCVRE39R25F842M |
|
Residence : |
Via |
C.Sigonio |
, 5 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Managing Director |
|
Ballabeni |
William |
|
Born in BAGNOLO IN PIANO |
on 28/12/1948 |
- Fiscal Code : BLLWLM48T28A573C |
|
Residence : |
Via |
T. VECELLIO |
, 2 |
- 42048 |
Rubiera |
(RE) |
- IT - |
|
Position |
|
Sole Director |
|
Cinelli |
Nicola |
|
Born in BOLOGNA |
on 09/01/1966 |
- Fiscal Code : CNLNCL66A09A944Y |
|
Residence : |
Via |
MATTEI |
, 52 |
- 20097 |
San Donato Milanese |
(MI) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Tani |
Bruno |
|
Born in Modena |
on 26/01/1966 |
- Fiscal Code : TNABRN66A26I462N |
|
Residence : |
Via |
Genimiano Rondelli |
, 9 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Colombo |
Riccardo |
|
Born in Cusano Milanino |
on 14/06/1947 |
- Fiscal Code : CLMRCR47H14D231X |
|
Residence : |
Via |
Dei Tigli |
, 7 |
- 20095 |
Cusano Milanino |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Fingreg S.p.a. |
|
|
- Fiscal Code : 03707250159 |
|
Residence : |
Via |
Emilia Ovest |
, 915 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Sole partner |
|
Borelli |
Umberto |
|
Born in MODENA |
on 03/11/1936 |
- Fiscal Code : BRLMRT36S03F257U |
|
Residence : |
Viale |
MOREALI |
, 174 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Ascari |
Andrea |
|
Born in MODENA |
on 10/01/1960 |
- Fiscal Code : SCRNDR60A10F257F |
|
Residence : |
Via |
MALMUSI |
, 166/1 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Bavutti |
Mario |
|
Born in CAVEZZO |
on 18/07/1937 |
- Fiscal Code : BVTMRA37L18C398A |
|
Residence : |
Via |
MALTA |
, 7 |
- 41012 |
Carpi |
(MO) |
- IT - |
|
Position |
|
Director |
|
Managing Director |
|
Di Mattia |
Carlo |
|
Born in PADOVA |
on 23/02/1942 |
- Fiscal Code : DMTCRL42B23G224S |
|
Residence : |
Via |
MATTEOTTI |
, 162 |
- 42046 |
Reggiolo |
(RE) |
- IT - |
|
Position |
|
Procurator |
|
Former seats |
|
- |
Branch |
(office ) |
since 22/12/1988 |
|
|
|
|
|
Via |
TORINO |
- 10099 |
- SAN MAURO TORINESE |
(TO) |
- IT - |
|
Splitting-up and transfer of
assets to |
|
Fingreg S.p.a. |
|
Via |
Emilia Ovest |
, 915 |
, 41100 |
, Modena |
(MO) |
- IT - |
|
Fiscal Code: 03707250159 |
|
Date |
Splitting-up : |
14/10/2004 |
|
Project of splitting-up and
tranfer into |
|
Fingreg S.p.a. |
|
Via |
Emilia Ovest |
, 915 |
, 41100 |
, Modena |
(MO) |
- IT - |
|
Fiscal Code: 03707250159 |
|
Date |
Merging/Splitting-up Project : |
10/09/2004 |
|
The firm absorbed by merging of |
|
G.r. Ind. - S.r.l. |
|
Strada |
Statale Per Carpi |
, 1365 |
, 41100 |
, Modena |
(MO) |
- IT - |
|
Fiscal Code: 00217550367 |
|
Date |
: |
20/07/1995 |
|
The firm absorved |
|
G.r. Ind. - S.r.l. |
|
Strada |
Statale Per Carpi |
, 1365 |
, 41100 |
, Modena |
(MO) |
- IT - |
|
Fiscal Code: 00217550367 |
|
Date |
: |
20/07/1995 |
PAYMENTS ANALYSIS
The
average term of debts to suplliers is normal compared with that of the sector.
PAYMENTS
SCORE : ZZZZZ - 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 |
|
Banca Popolare Emilia Romagna
ag. 1 |
|
|
0 |
|
|
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections
have been requested.
|
Immovable Type |
Value |
|
Real estates |
14.493 .Eur |
NB.: For
Capital Companies the value of the Immovables is the one reported in the last
available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Company's
starting of activities dates back to 1988.
During
the last years, it recorded positive net results (r.o.e. 11,5% in 2005) thanks
to a progressive increase in turnover (+16,16% in 2005 compared to 2004 and
+8,03% in 2004 compared to 2003).
The
return on Investment in the last financial year was positive (12,1%) falling
within the field's average.
The company
has an excellent net worth if compared to its debts, with a low indebtedness
(0,73) lower than in 2004.
Moderate
recourse to bank credit while the exposure towards suppliers is rather high
however still within the sector's average.
It
shows 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 |
85.688.861 |
filed balance sheet |
|
Profit (Loss) for the period |
4.291.324 |
filed balance sheet |
|
Complete balance-sheet for the
year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
73.762.953 |
filed balance sheet |
|
Profit (Loss) for the period |
3.147.973 |
filed balance sheet |
|
Complete balance-sheet for the
year as at |
31/12/2003 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
68.276.513 |
filed balance sheet |
|
Profit (Loss) for the period |
2.833.502 |
filed balance sheet |
|
Complete balance-sheet for the
year as at |
31/12/2002 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
64.397.666 |
filed balance sheet |
|
Profit (Loss) for the period |
1.327.329 |
filed balance sheet |
|
Complete balance-sheet for the
year as at |
31/12/2001 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
66.521.714 |
filed balance sheet |
|
Profit (Loss) for the period |
916.710 |
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 ) |
|
|
29.480.160 |
32.713.439 |
|
. Intangible assets |
|
|
423.098 |
650.668 |
|
. Tangible fixed assets |
|
|
8.999.979 |
10.510.102 |
|
. . Land and buildings |
|
|
14.493 |
11.928 |
|
. . Plants, Equipm.and Machinery |
|
|
7.946.871 |
9.589.739 |
|
. Long-term Investments |
|
|
20.057.083 |
21.552.669 |
|
. . Financial loans |
|
|
20.057.083 |
21.552.669 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
50.124.370 |
43.756.358 |
|
. Stock |
|
|
10.567.690 |
9.128.448 |
|
. Credits |
|
|
34.559.934 |
31.774.483 |
|
. . Credits to clients |
|
|
32.100.757 |
23.454.378 |
|
. . Other credits |
|
|
2.459.177 |
8.320.105 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
4.996.746 |
2.853.427 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
427.740 |
264.566 |
|
TOTAL ASSETS |
|
|
80.032.270 |
76.734.363 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
37.291.354 |
33.000.030 |
|
. Company's capital |
|
|
3.100.000 |
3.100.000 |
|
. Reserves |
|
|
29.900.030 |
26.752.057 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
4.291.324 |
3.147.973 |
|
PROVISION CHARGES ACCOUNTS |
|
|
1.541.974 |
1.557.463 |
|
STAFF TERM INDEMNITY |
|
|
5.425.977 |
5.088.636 |
|
DEBTS |
|
|
35.421.470 |
36.394.527 |
|
. Financial M/L terms |
|
|
3.152.233 |
6.967.483 |
|
. . Financial M/L term banks |
|
|
3.152.233 |
6.967.483 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
5.575.359 |
5.363.992 |
|
. . Financial short-term banks |
|
|
5.575.359 |
5.363.992 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term
debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
19.790.149 |
17.548.700 |
|
. Sundry M/L debts |
|
|
1.800 |
|
|
. Sundry short-term debts |
|
|
6.901.929 |
6.514.352 |
|
ACCRUED COSTS DEFERR.
LIABILITIES |
|
|
351.495 |
693.707 |
|
TOTAL LIABILITIES |
|
|
80.032.270 |
76.734.363 |
|
. |
|
|
|
|
PROFIT AND LOSS ACCOUNTS
|
OUTPUT VALUE |
|
|
89.354.975 |
76.413.594 |
|
. Revenues from sales/services |
|
|
85.688.861 |
73.762.953 |
|
. Change of stock (products) |
|
|
1.010.525 |
359.974 |
|
OPERATING EXPENSES |
|
|
79.667.361 |
69.128.686 |
|
. Purchasing expenses |
|
|
39.080.232 |
30.900.970 |
|
. Change of stock (raw material) |
|
|
-599.255 |
-429.285 |
|
. Expenses from services |
|
|
13.017.443 |
10.878.675 |
|
. Expenses from leasing |
|
|
2.490.648 |
1.933.555 |
|
. General expenses/sundry
charges |
|
|
564.047 |
954.182 |
|
. Staff expenses |
|
|
20.790.704 |
19.316.284 |
|
. Depreciation/Devaluation costs |
|
|
4.323.542 |
5.574.305 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-583.364 |
-620.437 |
|
. Financial charges |
|
|
-771.638 |
-711.215 |
|
. Financial revenues |
|
|
188.274 |
90.778 |
|
FINANCIAL ASSETS CORRECTION |
|
|
-443.195 |
-393.860 |
|
EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
|
|
-69.453 |
-72.644 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
8.591.602 |
6.197.967 |
|
TAX |
|
|
4.300.278 |
3.049.994 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
4.291.324 |
3.147.973 |
RATIOS
|
|
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,55 |
1,37 |
1,87 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
0,73 |
0,80 |
2,00 |
|
Current ratio |
Units |
=> 1 |
l |
1,55 |
1,48 |
1,40 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,22 |
1,17 |
0,96 |
|
Return on Sales |
% |
|
l |
10,05 |
11,82 |
5,49 |
|
Average stock waiting period |
dd |
|
l |
44,38 |
44,53 |
67,82 |
|
Credits to clients average term |
dd |
|
l |
134,85 |
114,44 |
125,13 |
|
Debts to suppliers average term |
dd |
|
l |
130,50 |
144,50 |
146,19 |
|
Net financial revenues/ charges
incidence |
% |
|
l |
- 0,68 |
- 0,84 |
- 0,73 |
|
Labour cost incidence |
% |
|
l |
24,26 |
26,18 |
19,51 |
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.
RELIABILITY SCORE
Considering
also subject's structural and behavioural characteristics its credit margin
rate (from 0 to 100%) is equal to 100%, in respect of a sector average of 65%.
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:
1.124.800 .Eur.
MARKET / TERRITORY DATA
|
Population living in the
province |
: |
659.925 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region
|
: |
1.748.359 |
Monthly
family expences average in the region (in Eur.) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
SECTOR DATA
The
values are calculated on a base of 203 significant companies.
The
companies cash their credits on an average of 125 dd.
The average
duration of suppliers debts is about 146 dd.
The
sector's profitability is on an average of 5,49%.
The
labour cost affects the turnover in the measure of 19,51%.
Goods
are held in stock in a range of 67 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,11.
The
employees costs represent the 20,63% 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 18.860 protested subjects are found; in the province they count to
3.557.
The
insolvency index for the region is 0,46, while for the province it is 0,55.
Total
Bankrupt companies in the province : 2.526.
Total
Bankrupt companies in the region : 14.698.
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%)