MIRA
INFORM REPORT
|
Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INTIMO DI MARLYN S.R.L. |
|
|
|
|
Registered Office : |
Via Del Redolone, Sn Ponte Stella 51030 - Serravalle Pistoiese (PT) |
|
|
|
|
Country : |
Italy |
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|
Date of Incorporation : |
03.07.1992 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturing of Shirts and Underwear for Men and Boys. |
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. |
Small |
|
Maximum Credit Limit : |
EUR 29.400 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
name & address
Intimo Di Marlyn S.r.l.
Via Del Redolone, Sn Ponte Stella
51030 - Serravalle Pistoiese (PT) -IT-
SUMMARY
|
Fiscal Code |
: |
01174540474 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
03/07/1992 |
|
Patrimonial Consistence |
: |
125.000 Eur |
|
Turnover Range |
: |
2.250.000/3.000.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
29.400 - Eur |
|
Score |
: |
Risk medium |
|
Creditworthness Rate |
: |
Scanty |
|
|
|
Modest financial and economic aspect - Limited credit is suggested. |
ACTIVITY
c
Manufacturing of underwear for men and boys.
Manufacturing of lingerie and children's underwear.
Manufacturing of custom-made underwear for men, ladies and children.
LEGAL DATA
Legal Form : Limited liability company
|
Fiscal Code : 01174540474 |
|
Chamber of Commerce no.
: 124251 of Pistoia since 27/08/1992 |
|
V.A.T. Code : 01174540474 |
|
Court : 14365 of Pistoia
since 07/08/1992 |
Foundation Date : 03/07/1992
Establishment Date : 03/07/1992
Start of
Activities :
03/07/1992
Legal Duration
Date : 31/12/2050
Nominal Capital : 99.000 Eur
Subscribed Capital : 99.000 Eur
Paid up Capital : 99.000 Eur
MEMBERS
|
Innocenti Amidi |
Luca |
|
Born in Pistoia |
(PT) |
on 06/04/1974 |
- Fiscal Code : NNCLCU74D06G713S |
|
Residence : |
Via |
S.angiolo |
, 22/B |
- 51100 |
Pistoia |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/01/2008 |
|
|
No Protests registered.
|
Innocenti Amidi |
Paolo |
|
Born in Pistoia |
(PT) |
on 13/08/1982 |
- Fiscal Code : NNCPLA82M13G713F |
|
Residence : |
Via Sant'angelo |
, 22 |
- 51032 |
Pistoia |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/01/2008 |
|
|
No Protests registered.
COMPANIES CONNECTED TO MEMBERS *
*checkings have been performed on a national scale.
The Members of the subject firm are not reported to be Members in other
companies.
CAPITAL SHAREHOLDERS
|
Style / Name |
Seat / Address |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Innocenti Amidi Luca |
Pistoia - IT - |
NNCLCU74D06G713S |
59.400 .Eur |
60,00 |
|
Innocenti Amidi Paolo |
Pistoia - IT - |
NNCPLA82M13G713F |
39.600 .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 |
|
since 03/07/1992 |
in : |
|
|
|
|
|
Via |
Del Redolone |
, Sn Loc. Ponte Stella |
- 51030 - |
Serravalle Pistoiese |
(PT) |
- IT - |
|
|
|
|
PHONE |
: 0573/528290 |
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|
|
|
Employees |
: 10 |
|
|
|
|
Fittings and Equipment |
for a value of
90.379 |
Eur |
|
|
|
|
Stocks |
for a value of
476.000 |
Eur |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Ex-Members /
Ex-Positions |
|
Innocenti Amidi |
Luca |
|
Born in Pistoia |
on 06/04/1974 |
- Fiscal Code : NNCLCU74D06G713S |
|
Residence : |
Via |
S.angiolo |
, 22/B |
- 51100 |
Pistoia |
(PT) |
- IT - |
|
Position |
|
Sole Director |
PAYMENTS ANALYSIS
The average term of debts to suppliers is high compared with that of the
sector.
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 is active since 1992
During the last years, it recorded positive net results (r.o.e. 0,5% in
2006) with a good increase in turnover (+15,14% in 2006 compared to 2005 and
+11,09% in 2005 compared to 2004).
The operating result in 2006 was positive (2,35%) falling within the
field's average.
Short-term debts volume if compared to net worth, as it comes out from
the total indebtedness (12,52) which is rising compared to 2005.
The recourse to suppliers' credit is substantial with long payments
average period however above the average.
Liquidity is however good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
2.330.515 |
filed balance sheet |
|
Profit (Loss) for the period |
553 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
2.024.050 |
filed balance sheet |
|
Profit (Loss) for the period |
1.941 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
1.821.929 |
filed balance sheet |
|
Profit (Loss) for the period |
381 |
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 |
|
|
|
|
. |
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|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
47.862 |
97.117 |
|
. Intangible assets |
|
|
157 |
479 |
|
. Tangible fixed assets |
|
|
46.940 |
95.873 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
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|
|
|
|
. Long-term Investments |
|
|
765 |
765 |
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. . Financial loans |
|
|
765 |
765 |
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. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
1.848.268 |
1.675.838 |
|
. Stock |
|
|
476.077 |
483.548 |
|
. Credits |
|
|
1.361.235 |
1.174.570 |
|
. . Credits to clients |
|
|
1.361.235 |
1.174.570 |
|
. . Other credits |
|
|
|
|
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. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
10.956 |
17.720 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
3.528 |
7.438 |
|
TOTAL ASSETS |
|
|
1.899.658 |
1.780.393 |
|
. |
|
|
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|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
108.483 |
107.929 |
|
. Company's capital |
|
|
99.000 |
99.000 |
|
. Reserves |
|
|
8.930 |
6.988 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
553 |
1.941 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
9.632 |
3.048 |
|
SEVERANCE INDEMNITY FUND |
|
|
30.582 |
50.139 |
|
DEBTS |
|
|
1.699.943 |
1.576.428 |
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. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
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|
|
|
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. . Financial M/L bonds |
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|
|
|
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. . Other financial M/L debts |
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|
|
|
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. Financial short-term debts |
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|
|
|
|
. . Financial short-term banks |
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|
|
|
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. . Financial short-term bonds |
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|
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. . Other financial short-term debts |
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. M/L term debts to suppliers |
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. Short-term debts to suppliers |
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|
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. Sundry M/L debts |
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|
|
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. Sundry short-term debts |
|
|
|
|
|
ACCRUED EXPENSE |
|
|
51.018 |
42.849 |
|
TOTAL LIABILITIES |
|
|
1.899.658 |
1.780.393 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
2.327.113 |
1.950.065 |
|
. Revenues from sales/services |
|
|
2.330.515 |
2.024.050 |
|
. Change of stock (products) |
|
|
-4.303 |
-74.590 |
|
OPERATING EXPENSES |
|
|
2.282.336 |
1.890.022 |
|
. Purchasing expenses |
|
|
1.508.086 |
1.271.229 |
|
. Change of stock (raw material) |
|
|
3.168 |
-80.028 |
|
. Expenses from services |
|
|
453.345 |
431.275 |
|
. Expenses from leasing |
|
|
43.959 |
27.889 |
|
. General expenses/sundry charges |
|
|
73.101 |
58.396 |
|
. Staff expenses |
|
|
185.391 |
155.733 |
|
. Depreciation/Devaluation costs |
|
|
15.286 |
25.528 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-49.196 |
-49.485 |
|
. Financial charges |
|
|
-49.212 |
-49.505 |
|
. Financial revenues |
|
|
16 |
20 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
39.941 |
9.899 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
35.522 |
20.457 |
|
TAX |
|
|
34.969 |
18.516 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
553 |
1.941 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
9,80 |
5,02 |
2,28 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
12,52 |
11,38 |
3,73 |
|
Current ratio |
Units |
=> 1 |
l |
1,34 |
1,34 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,00 |
0,95 |
0,87 |
|
Return on Sales |
% |
|
l |
0,67 |
1,35 |
2,33 |
|
Average stock waiting period |
dd |
|
l |
73,51 |
86,00 |
65,05 |
|
Credits to clients average term |
dd |
|
l |
210,24 |
208,90 |
125,44 |
|
Debts to suppliers average term |
dd |
|
l |
240,00 |
250,00 |
140,38 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 2,11 |
- 2,44 |
- 1,20 |
|
Labour cost incidence |
% |
|
l |
7,95 |
7,69 |
12,37 |
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:
29.400 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
277.028 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
SECTOR DATA
The values are calculated on a base of 1.805 significant companies.
The companies cash their credits on an average of 125 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 2,33%.
The labour cost affects the turnover in the measure of 12,37%.
Goods are held in stock in a range of 65 dd.
The difference between the sales volume and the resources used to
realize it is about 1,23.
The employees costs represent the 12,44% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistically the trade activity passes through serious crises.
The area is statistically considered remarkably risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.482.
The insolvency index for the region is 0,70, while for the province it
is 0,91.
Total Bankrupt companies in the province : 1.559.
Total Bankrupt companies in the region : 20.423.
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%)