MIRA
INFORM REPORT
|
Report Date : |
29.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALBERTINI S.P.A. |
|
|
|
|
Registered Office : |
Viale Dell'industria, 14/A 37030 - Colognola Ai Colli (VR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
21.12.1977 |
|
|
|
|
Com. Reg. No.: |
VR091-10318 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Joiner's Shop And Carpenter's. |
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 : |
EUR 589.800 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Albertini S.p.a.
Viale
Dell'industria, 14/A
37030 -
Colognola Ai Colli (VR) -IT-
SUMMARY
|
Fiscal Code |
: |
00724180237 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
21/12/1977 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
from 150 to 175 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
589.800 - Eur |
|
Score |
: |
Risk normal |
|
Creditworthness Rate |
: |
Good |
|
|
|
Under the financial aspect a certain balance is reported which leads |
|
|
|
to a credit with a very limited risk. |
ACTIVITY
Joiner's shop and carpenter's.
LEGAL DATA
Legal Form
: Joint stock company
|
Register of Handcraft firms
: 51648 of Verona since 09/02/1978 until 01/05/1984 |
|
Fiscal Code : 00724180237 |
|
Foreign Trade Reg. no.
: VR003875 since 25/11/1991 |
|
Foreign Trade Reg. no.
: 3875 of Verona since 25/11/1991 |
|
Foreign Trade Reg. no.
: 003875 of Verona since 25/11/1991 |
|
Chamber of Commerce no. :
154123 of Verona since 10/01/1978 |
|
Firms' Register
: VR091-10318 since 19/02/1996 |
|
V.A.T. Code : 00724180237 |
|
Foundation Date |
: 21/12/1977 |
|
|
Establishment Date |
: 21/12/1977 |
|
|
Start of Activities |
: 21/12/1977 |
|
|
Legal Duration Date |
: 31/12/2025 |
|
|
Nominal Capital |
: 1.040.000 |
Eur |
|
Subscribed Capital |
: 1.040.000 |
Eur |
|
Paid up Capital |
: 1.040.000 |
Eur |
MEMBERS
|
Albertini |
Giampaolo |
|
Born in Verona |
(VR) |
on 02/02/1955 |
- Fiscal Code : LBRGPL55B02L781O |
|
Residence : |
Via |
Leon |
, 4 |
- 37030 |
Mezzane di Sotto |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/04/2007 |
|
|
|
Managing Director |
20/04/2007 |
|
|
|
Board Chairman |
20/04/2007 |
|
|
No Protests registered.
|
Albertini |
Carlo |
|
Born in Caldiero |
(VR) |
on 14/09/1958 |
- Fiscal Code : LBRCRL58P14B402F |
|
Residence : |
Via |
San Monte |
, 3 |
- 37030 |
Illasi |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/04/2007 |
|
|
|
Assistant board Chairman |
20/04/2007 |
|
|
|
Managing Director |
20/04/2007 |
|
|
No Protests registered.
|
Gabbiai |
Maria Teresa |
|
Born in Oppeano |
(VR) |
on 06/12/1957 |
- Fiscal Code : GBBMTR57T46G080Y |
|
Residence : |
Via |
Villa Cozza |
, 41 |
- 37100 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/04/2007 |
|
|
No Protests registered.
|
Albertini |
Carla |
|
Born in Caldiero |
(VR) |
on 14/09/1958 |
- Fiscal Code : LBRCRL58P54B402J |
|
Residence : |
Via |
Verdi |
, 14 |
- 37042 |
Caldiero |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/04/2007 |
|
|
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.
|
ALBERTINI |
CARLO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ATELIERITALIANO S.R.L. |
Verona (VR) - IT - |
03731090233 |
Director |
Active |
Registered |
|
IMMOBILIARE TRE EFFE.A. SRL IN LIQUIDAZIONE |
Colognola Ai Colli (VR) - IT - |
01268500236 |
Liquidator |
- |
Ceased |
|
VERFIN S.P.A. |
Verona (VR) - IT - |
02768570232 |
Director |
- |
Liquidated |
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 |
|
Albertini Giampaolo |
Mezzane di Sotto - IT - |
LBRGPL55B02L781O |
332.800 .Eur |
32,00 |
|
Albertini Carlo |
Illasi - IT - |
LBRCRL58P14B402F |
332.800 .Eur |
32,00 |
|
Gabbiai Maria Teresa |
Verona - IT - |
GBBMTR57T46G080Y |
85 .Eur |
16,00 |
|
Albertini Federica |
|
LBRFRC95T62E349L |
85 .Eur |
16,00 |
|
Albertini Carla |
Caldiero - IT - |
LBRCRL58P54B402J |
41.600 .Eur |
4,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Verfin S.p.a. |
Verona - IT - |
02768570232 |
33.798.000 .Eur |
515,75 |
Ceased |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Viale |
Dell'industria |
, 14/A |
- 37030 - |
Colognola Ai Colli |
(VR) |
- IT - |
|
|
|
|
PHONE |
: 045/7651700 |
|
|
|
|
PHONE |
: 045/6151250 |
|
|
|
|
FAX |
: 045/6150218 |
|
|
|
|
Employees |
: 154 |
|
|
|
|
Fittings and Equipment |
for a value of
1.358.000 |
Eur |
|
|
|
|
Stocks |
for a value of
3.678.500 |
Eur |
Sales are on an international scale.
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- its own agents |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- Rep.di Guinea |
|
- Bulgaria |
|
- Polonia |
|
- Ungheria |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
General partnership |
Joint stock company |
23/10/1992 |
|
Company Style
modifications |
|
Former Style |
New Style |
Changement Date |
|
Albertini Francesco e Figli S.n.c. |
Albertini S.p.A. |
23/10/1992 |
|
Ex-Members /
Ex-Positions |
|
Albertini |
Giampaolo |
|
Born in Verona |
on 02/02/1955 |
- Fiscal Code : LBRGPL55B02L781O |
|
Residence : |
Via |
Leon |
, 4 |
- 37030 |
Mezzane di Sotto |
(VR) |
- IT - |
|
Position |
|
Chairman |
|
Albertini |
Giorgio |
|
Born in CALDIERO |
on 14/06/1948 |
- Fiscal Code : LBRGRG48H14B402O |
|
Residence : |
Viale |
DELL'INDUSTRIA |
, 14/B |
- 37030 |
Colognola Ai Colli |
(VR) |
- IT - |
|
Position |
|
Managing Director |
|
Director |
|
Partner |
|
Managing Director |
|
Board Chairman |
|
Albertini |
Gianpaolo |
|
Born in Verona |
on 02/02/1955 |
- Fiscal Code : LBRPLA55B02L781N |
|
Residence : |
Via |
degli Alpini |
, 1 |
- 37030 |
Colognola Ai Colli |
(VR) |
- IT - |
|
Position |
|
Managing Director |
|
Partner |
|
Albertini |
Carlo |
|
Born in Caldiero |
on 14/09/1958 |
- Fiscal Code : LBRCRL58P14B402F |
|
Residence : |
Via |
San Monte |
, 3 |
- 37030 |
Illasi |
(VR) |
- IT - |
|
Position |
|
Director |
|
Partner |
|
Chairman and Managing Director |
|
Sgaravato |
Ermanno |
|
Born in Verona |
on 09/02/1957 |
- Fiscal Code : SGRRNN57B09L781X |
|
Residence : |
Via |
Roma |
, 5 |
- 37069 |
Villafranca di Verona |
(VR) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Pomari |
Agnese |
|
Born in VERONA |
on 06/01/1966 |
- Fiscal Code : PMRGNS66A46L781O |
|
Residence : |
Piazza |
VITTORIO EMANUELE |
, 1 |
- 37028 |
Rovere' Veronese |
(VR) |
- IT - |
|
Position |
|
Temporary Auditor |
PAYMENTS ANALYSIS
The average term of debts to suplliers is normal compared with that
of the sector.
PAYMENTS SCORE : ZZZZZ - 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.
|
Immovable Type |
Value |
|
Real estates |
2.014.885 .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 1977
During the last years, it achieved profits (r.o.e. 1,96% on 2006) with a
remarkable upward trend (+10,62% on 2006 compared to 2005 and +1,19% on 2005
compared to 2004).
The operating result in 2006 was positive (4,1%) falling within the
field's average.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (3,36) yet on the increase as against the previous accounting
period.
Financial debts as well as debts to suppliers are rather high even if it
still falls within the sector's average.
Liquidity is good (1,17)
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
21.014.666 |
filed balance sheet |
|
Profit (Loss) for the period |
58.741 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
18.995.844 |
filed balance sheet |
|
Profit (Loss) for the period |
67.125 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
18.771.647 |
filed balance sheet |
|
Profit (Loss) for the period |
563.010 |
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 ) |
|
|
4.085.903 |
4.062.887 |
|
. Intangible assets |
|
|
70.363 |
57.710 |
|
. Tangible fixed assets |
|
|
3.714.649 |
3.705.786 |
|
. . Land and buildings |
|
|
2.014.885 |
2.093.096 |
|
. . Plants, Equipm.and Machinery |
|
|
1.357.938 |
1.224.853 |
|
. Long-term Investments |
|
|
300.891 |
299.391 |
|
. . Financial loans |
|
|
300.891 |
299.391 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
12.579.194 |
10.188.287 |
|
. Stock |
|
|
3.678.516 |
3.398.760 |
|
. Credits |
|
|
8.251.955 |
6.619.327 |
|
. . Credits to clients |
|
|
7.013.808 |
6.449.797 |
|
. . Other credits |
|
|
1.238.147 |
169.530 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
648.723 |
170.200 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
533.433 |
521.760 |
|
TOTAL ASSETS |
|
|
17.198.530 |
14.772.934 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
2.990.715 |
3.244.473 |
|
. Company's capital |
|
|
1.040.000 |
1.040.000 |
|
. Reserves |
|
|
1.891.974 |
2.137.348 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
58.741 |
67.125 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
152.223 |
125.888 |
|
SEVERANCE INDEMNITY FUND |
|
|
1.383.755 |
1.331.313 |
|
DEBTS |
|
|
12.638.892 |
10.039.385 |
|
. Financial M/L terms |
|
|
1.487.095 |
508.681 |
|
. . Financial M/L term banks |
|
|
1.487.095 |
508.681 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
3.253.346 |
2.032.464 |
|
. . Financial short-term banks |
|
|
3.253.346 |
2.032.464 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
5.420.742 |
5.426.366 |
|
. Sundry M/L debts |
|
|
450.000 |
450.000 |
|
. Sundry short-term debts |
|
|
2.027.709 |
1.621.874 |
|
ACCRUED EXPENSE |
|
|
32.945 |
31.875 |
|
TOTAL LIABILITIES |
|
|
17.198.530 |
14.772.934 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
22.067.853 |
19.452.223 |
|
. Revenues from sales/services |
|
|
21.014.666 |
18.995.844 |
|
. Change of stock (products) |
|
|
537.252 |
57.133 |
|
OPERATING EXPENSES |
|
|
21.361.607 |
18.681.737 |
|
. Purchasing expenses |
|
|
10.242.119 |
8.388.404 |
|
. Change of stock (raw material) |
|
|
241.896 |
434.862 |
|
. Expenses from services |
|
|
3.985.793 |
3.454.751 |
|
. Expenses from leasing |
|
|
609.917 |
490.337 |
|
. General expenses/sundry charges |
|
|
216.506 |
315.496 |
|
. Staff expenses |
|
|
5.419.811 |
4.963.481 |
|
. Depreciation/Devaluation costs |
|
|
645.565 |
634.406 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-45.304 |
-234.039 |
|
. Financial charges |
|
|
-65.640 |
-239.235 |
|
. Financial revenues |
|
|
20.336 |
5.196 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
1 |
-2 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
660.943 |
536.445 |
|
TAX |
|
|
602.202 |
469.320 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
58.741 |
67.125 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,54 |
1,36 |
1,47 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
3,36 |
2,74 |
3,20 |
|
Current ratio |
Units |
=> 1 |
l |
1,17 |
1,12 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,83 |
0,74 |
0,79 |
|
Return on Sales |
% |
|
l |
3,35 |
3,69 |
3,69 |
|
Average stock waiting period |
dd |
|
l |
63,00 |
64,40 |
62,82 |
|
Credits to clients average term |
dd |
|
l |
120,13 |
122,22 |
125,69 |
|
Debts to suppliers average term |
dd |
|
l |
131,50 |
158,36 |
160,82 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,21 |
- 1,23 |
- 1,25 |
|
Labour cost incidence |
% |
|
l |
25,79 |
26,12 |
17,73 |
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
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:
589.800 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
860.796 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
SECTOR DATA
The values are calculated on a base of 585 significant companies.
The companies cash their credits on an average of 125 dd.
The average duration of suppliers debts is about 160 dd.
The sector's profitability is on an average of 3,69%.
The labour cost affects the turnover in the measure of 17,73%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and the resources used to
realize it is about 1,15.
The employees costs represent the 17,63% 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 13.782 protested subjects are found; in the province they
count to 2.673.
The insolvency index for the region is 0,30, while for the province it
is 0,31.
Total Bankrupt companies in the province : 2.982.
Total Bankrupt companies in the region : 16.714.
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. |
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%)