MIRA
INFORM REPORT
|
Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
Reagens S.p.a. |
|
|
|
|
Registered Office : |
Via Codronchi, 4 40016 - San Giorgio di Piano (BO) - IT |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
06/07/1982 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Production of chemicals for industrial use. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
1.124.800 - Eur |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Reagens S.p.a.
Via
Codronchi, 4
40016 - San
Giorgio di Piano (BO) -IT-
SUMMARY
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
06/07/1982 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
|
: |
50.000.000/75.000.000 Eur |
|
Number of Employees |
: |
From 150 to 175 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
1.124.800 - Eur |
|
Score |
: |
Risk low |
|
Creditworthness Rate |
: |
(Excellent) |
ACTIVITY
Production of chemicals for industrial use.
LEGAL DATA
Legal Form : Joint stock company
|
Fiscal Code : 03230820379 |
|
Foreign Trade Reg. no. : BO014085 since 24/12/1991 |
|
Foreign Trade Reg. no. : 014085 of |
|
Chamber of Commerce no. : 275343 of |
|
Firms' Register : BO006-34683 since 19/02/1996 |
|
Court : 34683 of |
|
Foundation Date |
: 06/07/1982 |
|
|
Establishment Date |
: 06/07/1982 |
|
|
Start of Activities |
: 06/07/1982 |
|
|
Legal Duration Date |
: 31/12/2030 |
|
|
Nominal Capital |
: 8.460.000 |
Eur |
|
Subscribed Capital |
: 8.460.000 |
Eur |
|
Paid up Capital |
: 8.460.000 |
Eur |
MEMBERS
|
Lacchini |
Silvio |
|
Born in Milano |
(MI) |
on 04/09/1960 |
- Fiscal Code : LCCSLV60P04D150M |
|
Residence : |
Via |
Gaetano Donizetti |
, 3 |
- 20122 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2006 |
|
|
No Protests registered.
|
Tellerini |
Mario |
|
Born in |
(BO) |
on 11/03/1940 |
- Fiscal Code : TLLMRA40C11A944U |
|
Residence : |
Via |
Gandino |
, 25 |
- 40100 |
|
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Vice-Chairman |
|
|
|
|
Director |
|
|
|
|
Tellerini |
Mario |
|
Born in |
(BO) |
on 11/03/1940 |
- Fiscal Code : TLLMRA40C11A944U |
|
Residence : |
Via |
Gandino |
, 25 |
- 40137 |
|
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Vice-Chairman |
29/06/2006 |
|
|
|
Director |
29/06/2006 |
|
|
No Protests registered.
|
Nanni |
Ettore |
|
Born in |
(BO) |
on 04/08/1959 |
- Fiscal Code : NNNTTR59M04A944E |
|
Residence : |
Via |
Bellinzona |
, 7 |
- 40100 |
|
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/06/2003 |
|
|
|
Managing Director |
29/06/2006 |
|
|
|
Board Chairman |
29/06/2006 |
|
|
No Protests registered.
|
Aglialoro |
Elena |
|
Born in Sagrado |
(GO) |
on 17/02/1967 |
- Fiscal Code : GLLLNE67B57E098M |
|
Residence : |
Via |
Ronchi |
, 24 B |
- 35020 |
Sagrado |
(GO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditor |
24/06/2004 |
|
|
|
Crocetti |
Enrico |
|
Born in |
(TR) |
on 22/03/1963 |
- Fiscal Code : CRCNRC63C22L117F |
|
Residence : |
Viale |
Dante Alighieri |
, 51/B |
- 21016 |
Luino |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2006 |
|
|
|
Managing Director |
29/06/2006 |
|
|
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.
|
TELLERINI |
|
|
TELLERINI |
|
|
NANNI |
|
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 |
|
Reagens S.p.a. |
San Giorgio di Piano - IT - |
03230820379 |
400.000 .Eur |
4,72 |
|
Tellerini Mario |
|
TLLMRA40C11A944U |
1.941.333 .Eur |
22,94 |
|
Nanni Ettore |
|
NNNTTR59M04A944E |
4.648.800 .Eur |
54,95 |
|
Tellerini Enrichetta |
|
TLLNCH66H47H223E |
567.666 .Eur |
6,71 |
|
LAFIN SPA |
Milano - IT - |
07562190152 |
884.000 .Eur |
10,44 |
|
Crocetti Enrico |
Luino - IT - |
CRCNRC63C22L117F |
18.200 .Eur |
0,21 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Reagens S.p.a. |
San Giorgio di Piano - IT - |
03230820379 |
400.000 .Eur |
4,72 |
STRUCTURE AND COMPANY
ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
(Factory ) |
since 19/04/1990 |
in : |
|
|
|
|
|
Via |
Codronchi |
, 4 |
- 40016 - |
San Giorgio di Piano |
(BO) |
- IT - |
|
|
|
|
PHONE |
: 051/897157 |
|
|
|
|
Employees |
: 158 |
|
|
|
|
Assistants |
: 1 |
|
|
|
|
Fittings and Equipment |
for a value of
4.551.000 |
Eur |
|
|
|
|
Stocks |
for a value of
13.456.000 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
129.114 |
Eur |
|
|
|
|
Vehicles |
for a value of
123.949 |
Eur |
Trade organization: direct or by agents.
Business are addressed to
The firm operates abroad as importer / exporter.
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
|
- its own agents |
|
- its own foreign branches |
|
- direct orders to foreign companies |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- |
|
- Belgio |
|
- Francia |
Export is mainly towards:
|
- Rep.di Guinea |
|
- |
|
- Francia |
|
- Belgio |
|
- Irlanda |
|
- Islanda |
|
- Ungheria |
HISTORICAL
INFORMATION AND/OR FIRM'S
STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
30/01/1990 |
|
Company Style modifications |
|
Former Style |
New Style |
Changement Date |
|
Alfa Fin S.R.L. |
|
30/01/1990 |
|
Reagens S.p.a. |
Reagens Comiel S.p.a. |
18/09/1995 |
|
Ex-Members /
Ex-Positions |
|
Poggio |
Mario |
|
Born in |
on 14/10/1960 |
- Fiscal Code : PGGMRA60R14D150I |
|
Residence : |
Piazza |
CACCIA |
, 2 |
- 26100 |
|
(CR) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Fabbri |
Giancarlo |
|
Born in |
on 16/04/1925 |
- Fiscal Code : FBBGCR25D16A944F |
|
Residence : |
Via |
Lombardia |
, 7 |
- 40100 |
|
(BO) |
- IT - |
|
Position |
|
Director |
|
Ambu |
Ignazio |
|
Born in Laconi |
on 29/12/1927 |
- Fiscal Code : MBAGNZ27T29E400E |
|
Residence : |
Via |
Demetrio Martinelli |
, 13 |
- 40100 |
|
(BO) |
- IT - |
|
Position |
|
Director |
|
Ruggeri |
Rossano |
|
Born in |
on 23/09/1959 |
- Fiscal Code : RGGRSN59P23D150K |
|
Residence : |
Via |
Monte Carmen |
, 8 |
Lugano |
- CH - |
|
Position |
|
Permanent Auditor |
|
Maiorca |
Renato |
|
Born in Rivoli |
on 17/11/1910 |
- Fiscal Code : MRCRNT10S17H355C |
|
Fiscal residence : |
Corso |
Italia |
, 15 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Chairman |
|
Maiorca |
Ettore |
|
Born in |
on 01/02/1939 |
- Fiscal Code : MRCTTR39B01L219O |
|
Fiscal residence : |
Via |
Castelbarco |
, 5 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Tellerini |
Mario |
|
Born in |
on 11/03/1940 |
- Fiscal Code : TLLMRA40C11A944U |
|
Residence : |
Via |
Gandino |
, 25 |
- 40137 |
|
(BO) |
- IT - |
|
Position |
|
Chairman |
|
Assistant board Chairman |
|
Nanni |
Ettore |
|
Born in |
on 04/08/1959 |
- Fiscal Code : NNNTTR59M04A944E |
|
Residence : |
Via |
Bellinzona |
, 7 |
- 40100 |
|
(BO) |
- IT - |
|
Position |
|
Managing Director |
|
Lolli |
Giuliana |
|
Born in |
on 31/10/1946 |
- Fiscal Code : LLLGLN46R71A944C |
|
Residence : |
Via |
Gandino |
, 25 |
- 40100 |
|
(BO) |
- IT - |
|
Position |
|
Chairman |
|
Glarey |
Giorgio |
|
Born in |
on 18/05/1935 |
- Fiscal Code : GLRGRG35E18L219D |
|
Residence : |
Via |
VIVAIO |
, 12 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Viviani |
Giovanni |
|
Born in |
on 26/07/1939 |
- Fiscal Code : VVNGNN39L26A794G |
|
Fiscal residence : |
Via |
Volturno |
, 80 |
- 20047 |
Brugherio |
(MI) |
- IT - |
|
Position |
|
Director |
|
Coratella |
Enzo |
|
Born in |
on 12/04/1960 |
- Fiscal Code : CRTNZE60D12D150J |
|
Residence : |
Via |
MASSAROTTI |
, 46/C |
- 26100 |
|
(CR) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Merli |
Stefano |
|
Born in Milano |
on 08/06/1961 |
- Fiscal Code : MRLSFN61H08L500E |
|
Residence : |
Viale |
Premuda |
, 23 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Aglialoro |
Elena |
|
Born in Sagrado |
on 17/02/1967 |
- Fiscal Code : GLLLNE67B57E098M |
|
Residence : |
Via |
Ronchi |
, 24 B |
- 35020 |
Sagrado |
(GO) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Balestreri |
Claudio |
|
Born in MILANO |
on 09/10/1965 |
- Fiscal Code : BLSCLD65R09F205A |
|
Residence : |
Viale |
GIOVANNI DA CERMENATE |
, 29 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
LACCHINI |
SILVIO |
|
Born in |
on 04/09/1960 |
- Fiscal Code : LCCSLV60P04D150M |
|
Residence : |
Via |
DONIZZETTI |
, 3 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Former seats |
|
- |
Branch |
(office ) |
since 01/11/1990 |
until 01/06/1993 |
|
|
|
|
|
Via |
Codronchi |
- 40016 |
- San Giorgio di Piano |
(BO) |
- IT - |
|
- |
Branch |
(office ) |
since 27/04/1990 |
until 01/07/1997 |
|
|
|
|
|
Via |
Monte Pasubio |
- 21047 |
- Saronno |
(VA) |
- IT - |
|
- |
Branch |
|
since 01/03/1996 |
until 01/09/1998 |
|
|
|
|
|
Via |
Bessarione |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Factory ) |
since 01/03/1996 |
until 05/11/1996 |
|
|
|
|
|
Via |
Turbigo |
- 20022 |
- Castano Primo |
(MI) |
- IT - |
|
- |
Branch |
(Factory ) |
since 01/03/1996 |
until 01/09/1998 |
|
|
|
|
|
Via |
|
- 20020 |
- Robecchetto Con Induno |
(MI) |
- IT - |
|
- |
Branch |
(Factory ) |
since 01/03/1996 |
until 01/09/1998 |
|
|
|
|
|
Via |
Tre Giugno |
- 20020 |
- Robecchetto Con Induno |
(MI) |
- IT - |
|
The firm absorved |
|
Comiel S.p.a. |
|
Via |
Bessarione |
, 0001 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
Fiscal Code: 00724390158 |
|
Date |
: |
01/03/1996 |
|
The firm absorbed by merging of |
|
Comiel S.p.a. |
|
Via |
Bessarione |
, 0001 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
Fiscal Code: 00724390158 |
|
Date |
: |
01/03/1996 |
|
The firm absorbed by merging of |
|
Reagens - S.p.a. |
|
Via |
Santo Stefano |
, 18 |
, 40100 |
, |
(BO) |
- IT - |
|
Fiscal Code: 00283540375 |
|
Date |
: |
27/04/1990 |
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
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
ROLO BANCA 1473 S.P.A. |
|
|
|
|
3556 |
0 |
|
CASSA DI RISPARMIO IN |
|
|
|
|
6385 |
0 |
|
CASSA DI RISPARMIO DI CENTO S.P.A. |
|
|
|
|
6115 |
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
|
Immovable Type |
Value |
|
Real estates |
1.202.703 .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 1982
In the economic management, good and bad results followed on by turns.
yet with a positive result in the 2005 (r.o.e. 9,45%). In the last financial
year an increase in the turnover has been registered (+17,22%).
The operating result in 2005 was positive (6,94%) and reflects the
field's average.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,73 lower than in 2004.
The company does not exceed in bank credits; payments average period is
instead slightly high (99,9 gg.) however still within the sector's average.
Liquidity is good (1,66)
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
59.834.580 |
filed balance sheet |
|
Profit (Loss) for the period |
2.894.984 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
51.041.155 |
filed balance sheet |
|
Profit (Loss) for the period |
-3.557.426 |
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 ) |
|
|
29.349.689 |
33.022.504 |
|
. Intangible assets |
|
|
188.314 |
145.497 |
|
. Tangible fixed assets |
|
|
6.657.074 |
7.483.002 |
|
. . Land and buildings |
|
|
1.202.703 |
1.308.713 |
|
. . Plants, Equipm.and Machinery |
|
|
4.550.862 |
5.289.752 |
|
. Long-term Investments |
|
|
22.504.301 |
25.394.005 |
|
. . Financial loans |
|
|
20.692.973 |
24.455.754 |
|
. . Own shares |
|
|
1.811.328 |
938.251 |
|
CURRENT ASSETS |
|
|
39.940.411 |
38.528.703 |
|
. Stock |
|
|
13.456.005 |
12.042.546 |
|
. Credits |
|
|
25.130.583 |
23.358.000 |
|
. . Credits to clients |
|
|
22.209.472 |
19.582.015 |
|
. . Other credits |
|
|
2.921.111 |
3.775.985 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
1.353.823 |
3.128.157 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
42.704 |
28.974 |
|
TOTAL ASSETS |
|
|
69.332.804 |
71.580.181 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
30.631.865 |
27.136.204 |
|
. Company's capital |
|
|
8.460.000 |
8.278.400 |
|
. Reserves |
|
|
17.465.553 |
21.476.979 |
|
. Reserves company's own shares |
|
|
1.811.328 |
938.251 |
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
2.894.984 |
-3.557.426 |
|
PROVISION CHARGES ACCOUNTS |
|
|
6.460.232 |
7.468.321 |
|
STAFF TERM INDEMNITY |
|
|
2.507.955 |
2.560.890 |
|
DEBTS |
|
|
29.651.861 |
34.259.831 |
|
. Financial M/L terms |
|
|
5.687.858 |
5.439.945 |
|
. . Financial M/L term banks |
|
|
5.687.858 |
5.439.945 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
7.471.748 |
15.573.390 |
|
. . Financial short-term banks |
|
|
7.471.748 |
15.573.390 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
13.244.020 |
11.008.890 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
3.248.235 |
2.237.606 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
80.891 |
154.935 |
|
TOTAL LIABILITIES |
|
|
69.332.804 |
71.580.181 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
60.704.754 |
52.436.740 |
|
. Revenues from sales/services |
|
|
59.834.580 |
51.041.155 |
|
. Change of stock (products) |
|
|
177.267 |
823.913 |
|
OPERATING EXPENSES |
|
|
55.888.094 |
49.787.808 |
|
. Purchasing expenses |
|
|
40.591.727 |
35.118.994 |
|
. Change of stock (raw material) |
|
|
-1.356.192 |
-1.432.644 |
|
. Expenses from services |
|
|
6.992.608 |
6.686.650 |
|
. Expenses from leasing |
|
|
138.037 |
140.096 |
|
. General expenses/sundry charges |
|
|
387.302 |
235.825 |
|
. Staff expenses |
|
|
7.028.137 |
6.768.803 |
|
. Depreciation/Devaluation costs |
|
|
2.106.475 |
2.270.084 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-358.075 |
-6.771.971 |
|
. Financial charges |
|
|
-1.050.189 |
-7.210.930 |
|
. Financial revenues |
|
|
692.114 |
438.959 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
17.447 |
-53.738 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
4.476.032 |
-4.176.777 |
|
TAX |
|
|
1.581.048 |
-619.351 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
2.894.984 |
-3.557.426 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
|
1,32 |
1,06 |
1,75 |
|
Net Short-term indebtedness |
Units |
- 1 |
|
0,73 |
0,94 |
2,35 |
|
Current ratio |
Units |
=> 1 |
|
1,66 |
1,33 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
|
1,10 |
0,91 |
0,99 |
|
Return on Sales |
% |
|
|
8,35 |
- 2,52 |
4,55 |
|
Average stock waiting period |
dd |
|
|
80,92 |
84,92 |
39,61 |
|
Credits to clients average term |
dd |
|
|
133,59 |
138,09 |
136,63 |
|
Debts to suppliers average term |
dd |
|
|
99,90 |
94,46 |
122,76 |
|
Net financial revenues/ charges incidence |
% |
|
|
- 0,59 |
- 13,26 |
- 1,00 |
|
Labour cost incidence |
% |
|
|
11,74 |
13,26 |
12,57 |
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 100%, in respect of a
sector average of 58%.
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 |
: |
944.297 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expenses 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 447 significant companies.
The companies cash their credits on an average of 136 dd.
The average duration of suppliers debts is about 122 dd.
The sector's profitability is on an average of 4,55%.
The labour cost affects the turnover in the measure of 12,57%.
Goods are held in stock in a range of 39 dd.
The difference between the sales volume and the resources used to
realize it is about 1,26.
The employees costs represent the 13,12% 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 18.860 protested subjects are found; in the province they
count to 3.720.
The insolvency index for the region is 0,46, while for the province it
is 0,40.
Total Bankrupt companies in the province : 4.335.
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%)