MIRA
INFORM REPORT
|
Report Date : |
04.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FICEP S.P.A. |
|
|
|
|
Registered Office : |
Viale Giacomo Matteotti, 21 21045 - Gazzada Schianno (VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
28.12.1973 |
|
|
|
|
Com. Reg. No.: |
VA133-7097 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of Machine Tools for Metal Working and Tools for Machines |
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 : |
EUR 850.100 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Ficep S.p.a.
Viale
Giacomo Matteotti, 21
21045 - Gazzada
Schianno (VA) -IT-
SUMMARY
|
Fiscal Code |
: |
00355760125 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
28/12/1973 |
|
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 |
: |
850.100 - 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
Manufacture of machine tools for metal working and tools for machines.
LEGAL DATA
Legal Form
: Joint stock company
|
Fiscal Code
: 00355760125 |
|
Foreign Trade Reg. no. :
VA002066 since 28/11/1991 |
|
Foreign Trade Reg. no. :
2066 of Varese since 28/11/1991 |
|
Foreign Trade Reg. no. :
002066 of Varese since 28/11/1991 |
|
Chamber of Commerce no. :
767638 of Milano |
|
Chamber of Commerce no. :
132335 of Varese since 16/07/1974 |
|
Firms' Register
: VA133-7097 since 19/02/1996 |
|
V.A.T. Code : 00355760125 |
|
Court : 709774 of Varese |
|
Foundation Date |
: 12/06/1967 |
|
|
Establishment Date |
: 12/04/1967 |
|
|
Start of Activities |
: 28/12/1973 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.788.920 |
Eur |
|
Subscribed Capital |
: 2.788.920 |
Eur |
|
Paid up Capital |
: 2.788.920 |
Eur |
MEMBERS
|
KPMG S.P.A. |
|
|
- Fiscal Code : 00709600159 |
|
Via |
VITTOR PISANI |
, 25 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditing company |
23/07/2007 |
|
|
|
Giuliani |
Renato |
|
Born in Milano |
(MI) |
on 18/02/1919 |
- Fiscal Code : GLNRNT19B18F205Y |
|
Residence : |
Via |
Monte Rosa |
, 42 |
- 21020 |
Buguggiate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Honorary President |
18/07/2001 |
|
|
No Protests registered.
|
Colombo |
Ezio |
|
Born in Gazzada Schianno |
(VA) |
on 26/02/1944 |
- Fiscal Code : CLMZEI44B26D951F |
|
Residence : |
Via |
Maroncelli |
, 59 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
23/07/2007 |
|
|
|
Director |
23/07/2007 |
|
|
|
Board Chairman |
23/07/2007 |
|
|
No Protests registered.
|
Colombo |
Claudio |
|
Born in Gazzada Schianno |
(VA) |
on 12/04/1949 |
- Fiscal Code : CLMCLD49D12D951Z |
|
Residence : |
Via |
Menotti |
, 76 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
23/07/2007 |
|
|
No Protests registered.
|
Giuliani |
Pierluigi |
|
Born in Gazzada Schianno |
(VA) |
on 03/06/1947 |
- Fiscal Code : GLNPLG47H03D951K |
|
Residence : |
Via |
Monte Rosa |
, 12 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
23/07/2007 |
|
|
No Protests registered.
|
Fusi |
Edoardo Pietro Maria |
|
Born in Torino |
(TO) |
on 28/10/1949 |
- Fiscal Code : FSUDDP49R28L219B |
|
Residence : |
Via |
A. Litta |
, 7 |
- 28041 |
Arona |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Vice-Chairman |
23/07/2007 |
|
|
|
Director |
23/07/2007 |
|
|
No Protests registered.
|
Colombo |
Barbara |
|
Born in Gallarate |
(VA) |
on 18/12/1969 |
- Fiscal Code : CLMBBR69T58D869H |
|
Residence : |
Via |
Alberto Da Giussano |
, 22 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Vice-Chairman |
23/07/2007 |
|
|
|
Director |
23/07/2007 |
|
|
|
Procurator |
20/01/2005 |
|
|
No Protests registered.
|
Colombo |
Christian |
|
Born in Gallarate |
(VA) |
on 09/02/1971 |
- Fiscal Code : CLMCRS71B09D869U |
|
Residence : |
Piazza |
Di Volontari |
, 4 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Vice-Chairman |
23/07/2007 |
|
|
|
Director |
23/07/2007 |
|
|
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.
|
COLOMBO |
EZIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
B.C.N. SOCIETA' SEMPLICE |
Milano (MI) - IT - |
95602220154 |
Partner |
Active |
Registered |
|
C.E.U. - CENTRO ESPOSIZIONI UCIMU S.P.A. |
Cinisello Balsamo (MI) - IT - |
01765630155 |
Director |
Dismiss |
Registered |
|
CARAVAGGIO - S.A.S. DI EZIO COLOMBO |
Varese (VA) - IT - |
00596130120 |
Acting partner (in work) |
- |
Ceased |
|
FINCOTRE S.R.L. |
Varese (VA) - IT - |
02376350126 |
Sole Director |
Active |
Registered |
|
FORTEK S.R.L. |
Gazzada Schianno (VA) - IT - |
00848450128 |
Sole Director |
Active |
Registered |
|
MITROL S.R.L. |
Gazzada Schianno (VA) - IT - |
01374980124 |
Chairman |
Dismiss |
Registered |
|
S.A.S. CASBENO DI EZIO COLOMBO E C. |
Varese (VA) - IT - |
00558530127 |
General Partner |
Active |
Registered |
|
SACMA MACCHINE PER LAMIERA S.P.A. |
Crosio della Valle (VA) - IT - |
01173120120 |
Director |
- |
Ceased |
|
SACMA MACCHINE PER LAMIERA S.P.A |
Crosio della Valle (VA) - IT - |
02423740121 |
Director |
Active |
Registered |
|
SEC S.S. DI SERGIO ED EZIO COLOMBO E C. |
Casciago (VA) - IT - |
95006460125 |
Partner |
Active |
Registered |
|
SIFCO SOC. IN ACC. PER AZ. DI EZIO COLOMBO |
Milano (MI) - IT - |
03263040150 |
General Partner |
Active |
Registered |
|
SOCIETA' FINANZIARIA MACCHINE UTENSILI SO.FI.MU SRL |
Cinisello Balsamo (MI) - IT - |
01813570270 |
Director |
Dismiss |
Registered |
|
COLOMBO |
BARBARA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
B.C.N. SOCIETA' SEMPLICE |
Milano (MI) - IT - |
95602220154 |
Partner |
Active |
Registered |
|
S.A.S. CASBENO DI EZIO COLOMBO E C. |
Varese (VA) - IT - |
00558530127 |
Limited Partner |
Active |
Registered |
|
COLOMBO |
CHRISTIAN |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
MITROL S.R.L. |
Gazzada Schianno (VA) - IT - |
01374980124 |
Director |
Active |
Registered |
|
S.A.S. CASBENO DI EZIO COLOMBO E C. |
Varese (VA) - IT - |
00558530127 |
Limited Partner |
Active |
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 |
|
Colombo Ezio |
Varese - IT - |
CLMZEI44B26D951F |
464.820 .Eur |
16,66 |
|
Fincotre S.r.l. |
Varese - IT - |
02376350126 |
929.640 .Eur |
33,33 |
|
Sifco Soc. In Acc. Per Az. Di Ezio Colombo |
Milano - IT - |
03263040150 |
1.394.460 .Eur |
50,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Probest Service Spa |
Cinisello Balsamo - IT - |
00895760155 |
10.580 .Eur |
0,79 |
Active |
|
C.e.u. - Centro Esposizioni Ucimu S.p.a. |
Cinisello Balsamo - IT - |
01765630155 |
8 .Eur |
|
Active |
|
Industria E Universita' S.r.l. |
Varese - IT - |
01930490121 |
25.500 .Eur |
0,20 |
Active |
|
Fortek S.r.l. |
Gazzada Schianno - IT - |
00848450128 |
26.000 .Eur |
100,00 |
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 12/06/1967 |
in : |
|
|
|
|
|
Viale |
Giacomo Matteotti |
, 21 |
- 21045 - |
Gazzada Schianno |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0332/876111 |
|
|
|
|
FAX |
: 0332/462459 |
|
- |
Branch |
(Factory ) |
since 25/06/1974 |
in : |
|
|
|
|
|
Via |
Kennedy - Cremona 2 - Matteotti |
, 17/19/21 |
- 21045 - |
Gazzada Schianno |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0332/876111 |
|
- |
Branch |
(Office with warehouse ) |
since 25/06/1974 |
in : |
|
|
|
|
|
Via |
Polidoro Da Caravaggio |
, 0033 |
- 20156 - |
Milano |
(MI) |
- IT - |
|
- |
Branch |
(Factory ) |
since 02/01/2002 |
in : |
|
|
|
|
|
Via |
Del Cannino |
, 3 |
- 21020 - |
Crosio della Valle |
(VA) |
- IT - |
|
- |
Branch |
(Factory ) |
since 01/10/2007 |
in : |
|
|
|
|
|
Via |
Marcobi Snc-lotto 4 |
- 21020 - |
Casale Litta |
(VA) |
- IT - |
|
|
|
|
Employees |
: 298 |
|
|
|
|
Fittings and Equipment |
for a value of
4.520.000 |
Eur |
|
|
|
|
Stocks |
for a value of
28.072.500 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
82.633 |
Eur |
|
|
|
|
Cars |
for a value of
206.582 |
Eur |
|
|
|
|
Vehicles |
for a value of
123.949 |
Eur |
Trade organization: direct or by agents.
The subject works in Italy and abroad
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- national or foreign important buyers |
|
- importers |
|
- its own sales net-work |
|
- its own agents |
|
- its own foreign branches |
Import comes generally from the following nations:
|
- Germania |
|
- Francia |
|
- Austria |
|
- Olanda |
Export is mainly towards:
|
- Francia |
|
- Rep.di Guinea |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Ex-Members /
Ex-Positions |
|
Colombo |
Ambrogio |
|
Born in Carnago |
on 07/12/1908 |
- Fiscal Code : CLMMRG08T07B796M |
|
Fiscal residence : |
Via |
Maroncelli |
, 59 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Chairman |
|
Colombo |
Ezio Emilio |
|
Born in Gazzada Schianno |
on 26/02/1944 |
- Fiscal Code : CLMZML44B26D951R |
|
Fiscal residence : |
Via |
Maroncelli |
, 59 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Vice-Chairman |
|
Giuliani |
Renato |
|
Born in Milano |
on 18/02/1919 |
- Fiscal Code : GLNRNT19B18F205Y |
|
Residence : |
Via |
Monte Rosa |
, 42 |
- 21020 |
Buguggiate |
(VA) |
- IT - |
|
Position |
|
Board Chairman |
|
Caramella |
Sergio |
|
Born in Milano |
on 04/10/1934 |
- Fiscal Code : CRMSRG34R04F205T |
|
Residence : |
Via |
Vittorio Veneto |
, 11 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Turci |
Ilico |
|
Born in MILANO |
on 04/09/1934 |
- Fiscal Code : TRCLCI34P04F205C |
|
Residence : |
Via |
Bertini |
, 6 |
- 21020 |
Barasso |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Fraschini |
Felice |
|
Born in Gazzada Schianno |
on 19/08/1931 |
- Fiscal Code : FRSFLC31M19D951A |
|
Residence : |
Piazza |
Marsala |
, 2 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Temporary Auditor |
|
Tartaini |
Silvano |
|
Born in Gavirate |
on 18/07/1937 |
- Fiscal Code : TRTSVN37L18D946L |
|
Residence : |
Via |
Leopardi |
, 22 |
- 21026 |
Gavirate |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Alessiani |
Ivo |
|
Born in VARESE |
on 26/09/1930 |
- Fiscal Code : LSSVIO30P26L682Y |
|
Residence : |
Via |
AL RONCO |
, 7 |
- 21020 |
Barasso |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Caravati |
Franco |
|
Born in Varese |
on 10/03/1934 |
- Fiscal Code : CRVFNC34C10L682M |
|
Residence : |
Via |
Doniga |
, 18 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Frigerio |
Giorgio |
|
Born in Milano |
on 12/05/1932 |
- Fiscal Code : FRGGRG32E12F205I |
|
Residence : |
Via |
Cernuschi |
, 41 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Director |
|
Daverio |
Teodoro |
|
Born in VARESE |
on 16/03/1940 |
|
Residence : |
Via |
GIOVANNI XXIII |
, 23 |
- 21020 |
Buguggiate |
(VA) |
- IT - |
|
Position |
|
Attorney with special power |
|
Temporary Auditor |
|
Magadini |
Mauro |
|
Born in Varese |
on 15/11/1944 |
- Fiscal Code : MGDMRA44S15L682Z |
|
Residence : |
Via |
Monteggia |
, 42 |
- 21014 |
Laveno-Mombello |
(VA) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Broggini |
Riccardo |
|
Born in Varese |
on 18/07/1942 |
- Fiscal Code : BRGRCR42L18L682P |
|
Residence : |
Via |
Prima Cappella |
, 25 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Gallo |
Aldo |
|
Born in Messina |
on 06/01/1913 |
- Fiscal Code : GLLLDA13A06F158S |
|
Residence : |
Viale |
Beatrice D'Este |
, 18/A |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Spano |
Pietro |
|
Born in MILANO |
on 29/06/1935 |
- Fiscal Code : SPNPTR35H29F205M |
|
Residence : |
Via |
CARADOSSO |
, 12 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Ballarati |
Giancarlo |
|
Born in Busto Arsizio |
on 23/12/1964 |
- Fiscal Code : BLLGCR64T23B300Q |
|
Residence : |
Via |
V.veneto |
, 11 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Bottinelli |
Giovanni |
|
Born in Varese |
on 31/10/1965 |
- Fiscal Code : BTTGNN65R31L682M |
|
Residence : |
Via |
Robarello |
, 13 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Position |
|
Permanent 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 |
3.769.832 .Eur |
NB.: For Capital Companies the value of the Immovables is the one
reported in the last available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject is active since 1967
During the last years, it achieved profits (r.o.e. 9,33% on 2006) thanks
to a progressive increase in turnover (+38,22% in 2006 compared to 2005 and
+4,3% in 2005 compared to 2004).
The operating result was positive in the last financial year (5,37%)
falling within the field's average.
Company's financial status is balanced since indebtedness is not high
(1,99) but with an increase as against the previous accounting period.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high even if it still falls within the sector's average.
Liquidity is good (1,34)
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
89.790.957 |
filed balance sheet |
|
Profit (Loss) for the period |
2.054.600 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
64.959.241 |
filed balance sheet |
|
Profit (Loss) for the period |
404.390 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
62.279.422 |
filed balance sheet |
|
Profit (Loss) for the period |
423.773 |
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 ) |
|
|
17.961.243 |
16.429.228 |
|
. Intangible assets |
|
|
56.029 |
66.008 |
|
. Tangible fixed assets |
|
|
10.493.211 |
8.760.821 |
|
. . Land and buildings |
|
|
3.769.832 |
3.064.024 |
|
. . Plants, Equipm.and Machinery |
|
|
4.519.873 |
4.239.400 |
|
. Long-term Investments |
|
|
7.412.003 |
7.602.399 |
|
. . Financial loans |
|
|
7.412.003 |
7.602.399 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
71.704.207 |
57.225.047 |
|
. Stock |
|
|
28.072.633 |
24.917.748 |
|
. Credits |
|
|
31.568.479 |
24.017.908 |
|
. . Credits to clients |
|
|
28.176.989 |
21.884.785 |
|
. . Other credits |
|
|
3.391.490 |
2.133.123 |
|
. Short-term financial assets |
|
|
2.552.925 |
900.000 |
|
. Liquid assets |
|
|
9.510.170 |
7.389.391 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
1.144.556 |
840.963 |
|
TOTAL ASSETS |
|
|
90.810.006 |
74.495.238 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
22.018.193 |
20.575.594 |
|
. Company's capital |
|
|
2.788.920 |
2.788.920 |
|
. Reserves |
|
|
14.956.109 |
14.956.110 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
2.218.564 |
2.426.174 |
|
. Profit (loss) |
|
|
2.054.600 |
404.390 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
3.411.331 |
3.647.998 |
|
SEVERANCE INDEMNITY FUND |
|
|
5.154.613 |
5.171.393 |
|
DEBTS |
|
|
59.233.024 |
44.329.183 |
|
. Financial M/L terms |
|
|
5.731.071 |
6.706.979 |
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
5.731.071 |
6.706.979 |
|
. Financial short-term debts |
|
|
3.838.127 |
3.937.872 |
|
. . Financial short-term banks |
|
|
2.517.167 |
2.866.487 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
1.320.960 |
1.071.385 |
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
29.454.768 |
20.108.089 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
20.209.058 |
13.576.243 |
|
ACCRUED EXPENSE |
|
|
992.845 |
771.070 |
|
TOTAL LIABILITIES |
|
|
90.810.006 |
74.495.238 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
92.945.070 |
71.313.335 |
|
. Revenues from sales/services |
|
|
89.790.957 |
64.959.241 |
|
. Change of stock (products) |
|
|
-316.372 |
3.027.918 |
|
OPERATING EXPENSES |
|
|
88.062.605 |
70.009.993 |
|
. Purchasing expenses |
|
|
50.042.085 |
37.532.633 |
|
. Change of stock (raw material) |
|
|
-2.613.243 |
-2.430.654 |
|
. Expenses from services |
|
|
23.335.696 |
17.430.328 |
|
. Expenses from leasing |
|
|
230.589 |
191.859 |
|
. General expenses/sundry charges |
|
|
665.941 |
541.643 |
|
. Staff expenses |
|
|
13.743.149 |
12.842.385 |
|
. Depreciation/Devaluation costs |
|
|
2.658.388 |
3.901.799 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-202.664 |
73.499 |
|
. Financial charges |
|
|
-915.257 |
-597.490 |
|
. Financial revenues |
|
|
712.593 |
670.989 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-249.270 |
-140.112 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
4.430.531 |
1.236.729 |
|
TAX |
|
|
2.375.931 |
832.339 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
2.054.600 |
404.390 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,83 |
1,97 |
1,79 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
1,99 |
1,46 |
2,65 |
|
Current ratio |
Units |
=> 1 |
l |
1,34 |
1,52 |
1,30 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,81 |
0,85 |
0,91 |
|
Return on Sales |
% |
|
l |
5,24 |
6,62 |
4,16 |
|
Average stock waiting period |
dd |
|
l |
112,53 |
138,06 |
64,04 |
|
Credits to clients average term |
dd |
|
l |
112,96 |
121,28 |
130,89 |
|
Debts to suppliers average term |
dd |
|
l |
144,03 |
131,22 |
160,56 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,22 |
0,11 |
- 0,96 |
|
Labour cost incidence |
% |
|
l |
15,30 |
19,76 |
23,38 |
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:
MARKET / TERRITORY DATA
|
Population living in the province |
: |
843.250 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family
expences 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 1.227 significant companies.
The companies cash
their credits on an average of 130 dd.
The average
duration of suppliers debts is about 160 dd.
The sector's profitability
is on an average of 4,16%.
The labour cost
affects the turnover in the measure of 23,38%.
Goods are held in
stock in a range of 64 dd.
The difference
between the sales volume and the resources used to realize it is about 1,08.
The employees costs
represent the 23,75% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally the
trade activity shows periods of crisis.
The area is
statistically considered moderately risky.
In the region 50.886
protested subjects are found; in the province they count to 4.597.
The insolvency
index for the region is 0,55, while for the province it is 0,55.
Total Bankrupt
companies in the province : 3.052.
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. |
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%)