MIRA
INFORM REPORT
|
Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
F.R.M. GROUP S.R.L. |
|
|
|
|
Registered Office : |
Viale Redi Francesco, 3 50144- Firenze (FI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
21.04.1997 |
|
|
|
|
Com. Reg. No.: |
FI-1996-242703 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing of Custom-Made Underwear for Men, Ladies and Children. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
EUR 189.500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
F.r.m. Group S.r.l.
Viale Redi
Francesco, 3
50144 - Firenze (FI) -IT-
SUMMARY
|
Fiscal Code |
: |
04727970487 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
21/04/1997 |
|
Patrimonial Consistence |
: |
750.000 Eur |
|
Turnover Range |
: |
6.500.000/7.750.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
189.500 - Eur |
|
Score |
: |
Risk normal |
|
Creditworthness Rate |
: |
Sufficient |
|
|
|
Financial situation is not at its best, but credit is possible with |
|
|
|
no particular risks. |
ACTIVITY
Manufacturing of custom-made underwear for men, ladies and children.
LEGAL DATA
Legal Form
: Limited liability company
|
Fiscal Code
: 04727970487 |
|
Foreign Trade Reg. no. :
FI066550 since 08/07/1997 |
|
Chamber of Commerce no. :
474810 of Firenze since 25/07/1996 |
|
Firms' Register
: FI-1996-242703 since 20/05/1996 |
|
V.A.T. Code
: 04727970487 |
Establishment Date
: 18/03/1996
Start of
Activities : 21/04/1997
Legal Duration
Date : 31/12/2050
Nominal Capital : 100.000 Eur
Subscribed Capital
: 100.000 Eur
Paid up Capital : 100.000 Eur
MEMBERS
|
Targioni |
Riccardo |
|
Born in Campi Bisenzio |
(FI) |
on 11/11/1944 |
- Fiscal Code : TRGRCR44S11B507M |
|
Residence : |
Via |
Donizetti |
, 69 |
- 50013 |
Campi Bisenzio |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
18/12/2000 |
|
|
|
Board Chairman |
18/12/2000 |
|
|
No Protests registered.
|
Targioni |
Fabrizio |
|
Born in Campi Bisenzio |
(FI) |
on 21/02/1973 |
- Fiscal Code : TRGFRZ73B21D612A |
|
Residence : |
Via |
Donzetti |
, 55 |
- 50013 |
Campi Bisenzio |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Assistant board Chairman |
22/09/2003 |
|
|
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.
|
TARGIONI |
RICCARDO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
AZIENDA AGRICOLA ORSETTA DI TARGIONI FABRIZIO E C. S.A.S. |
Firenze (FI) - IT - |
04510690482 |
Limited Partner |
Active |
Registered |
|
CENSORE IMMOBILIARE S.R.L. |
Firenze (FI) - IT - |
03281420483 |
Board Chairman |
Active |
Registered |
|
CONFEZIONI*MARISTELLA DI TARGIONI RICCARDO E LOMBARDI ROSA MARIA |
Campi Bisenzio (FI) - IT - |
01661060481 |
Silent Partner |
- |
Ceased |
|
CREAZIONI*MARISTELLA S.R.L. |
Calenzano (FI) - IT - |
03403290483 |
Chairman |
Dismiss |
Registered |
|
CREAZIONI*MARISTELLA S.R.L. |
Calenzano (FI) - IT - |
03403290483 |
Managing Director |
Dismiss |
Registered |
|
CREAZIONI*MARISTELLA S.R.L. |
Calenzano (FI) - IT - |
03403290483 |
Director |
Dismiss |
Registered |
|
CREAZIONI*MARISTELLA S.R.L. |
Calenzano (FI) - IT - |
03403290483 |
Managing Director |
Dismiss |
Registered |
|
CREAZIONI*MARISTELLA S.R.L. |
Calenzano (FI) - IT - |
03403290483 |
Board Chairman |
Dismiss |
Registered |
|
EFFEFFE DI TARGIONI FABRIZIO E C. S.N.C. |
Campi Bisenzio (FI) - IT - |
05016600487 |
Partner |
Dismiss |
Ceased |
|
ELLE ERRE S.R.L. |
Prato (FI) - IT - |
01623650973 |
Liquidator |
- |
Ceased |
|
IPPODROMI E CITTA' S.P.A. |
Napoli (NA) - IT - |
00298400631 |
Director |
Dismiss |
Ceased |
|
IPPODROMO DEI FIORI S.P.A. |
Prato (PO) - IT - |
05545430018 |
Managing Director |
Active |
Registered |
|
IPPODROMO DEI FIORI S.P.A. |
Prato (PO) - IT - |
05545430018 |
Board Chairman |
Active |
Registered |
|
MODA ITALIA S.R.L. |
Prato (PO) - IT - |
01679150977 |
Liquidator |
- |
Ceased |
|
PALMA - S.R.L. |
Firenze (FI) - IT - |
01937150488 |
Managing Director |
Dismiss |
Ceased |
|
SCUDERIA ALLEVAMENTO EFFEDUE DI TARGIONI FABRIZIO SAS |
Firenze (FI) - IT - |
04343900488 |
Limited Partner |
Active |
Registered |
|
SCUDERIA E ALLEVAMENTO*RUBBY DI TARGIONI RICCARDO - S.N.C. |
Campi Bisenzio (FI) - IT - |
00944460484 |
Partner |
Active |
Registered |
|
SCUDERIA E ALLEVAMENTO*RUBBY DI TARGIONI RICCARDO - S.N.C. |
Campi Bisenzio (FI) - IT - |
00944460484 |
Liquidator |
Active |
Registered |
|
SCUDERIA O.M. S.R.L. |
Prato (PO) - IT - |
01922740970 |
Board Chairman |
Active |
Registered |
|
SCUDERIA SAN GIULIANO DI RICCARDO TARGIONI E C. S.A.S. |
Prato (PO) - IT - |
01868720978 |
General Partner |
Active |
Registered |
|
TARGIONI RICCARDO |
Campi Bisenzio (FI) - IT - |
TRGRCR44S11B507M |
Proprietor |
- |
Ceased |
|
VIALARGA S.A.S. DI VENTURELLI GUERRIERO E C. |
Forli' (FO) - IT - |
02335060402 |
Limited Partner |
- |
Ceased |
|
TARGIONI |
FABRIZIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
AZIENDA AGRICOLA ORSETTA DI TARGIONI FABRIZIO E C. S.A.S. |
Firenze (FI) - IT - |
04510690482 |
General Partner |
Active |
Registered |
|
CENSORE IMMOBILIARE S.R.L. |
Firenze (FI) - IT - |
03281420483 |
Director |
Active |
Registered |
|
EFFEFFE DI TARGIONI FABRIZIO E C. S.N.C. |
Campi Bisenzio (FI) - IT - |
05016600487 |
Partner |
- |
Ceased |
|
F.T.F. S.N.C. DI TARGIONI FABRIZIO E TARGIONI FILIPPO |
Firenze (FI) - IT - |
05224100486 |
Partner |
- |
Ceased |
|
SCUDERIA ALLEVAMENTO EFFEDUE DI TARGIONI FABRIZIO SAS |
Firenze (FI) - IT - |
04343900488 |
General Partner |
Active |
Registered |
|
SCUDERIA O.M. S.R.L. |
Prato (PO) - IT - |
01922740970 |
Director |
Active |
Registered |
|
TARGIONI FABRIZIO |
San Giuliano Terme (PI) - IT - |
TRGFRZ73B21D612A |
Proprietor |
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 |
|
Targioni Filippo |
Campi Bisenzio - IT - |
TRGFPP68H20B507N |
25.000 .Eur |
25,00 |
|
Targioni Riccardo |
Campi Bisenzio - IT - |
TRGRCR44S11B507M |
25.000 .Eur |
25,00 |
|
Lombardi Rosa Maria |
Campi Bisenzio - IT - |
LMBRMR47D63B507F |
25.000 .Eur |
25,00 |
|
Targioni Fabrizio |
Campi Bisenzio - IT - |
TRGFRZ73B21D612A |
25.000 .Eur |
25,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
KALCOS |
|
01969700978 |
|
|
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Viale |
Redi Francesco |
, 3 |
- 50144 - |
Firenze |
(FI) |
- IT - |
|
|
|
|
PHONE |
: 055/367428 |
|
- |
Branch |
(Factory ) |
in : |
|
|
|
|
|
Delle Calandre |
, 36 |
- 50041 - |
Calenzano |
(FI) |
- IT - |
|
|
|
|
PHONE |
: 055/8877543 |
|
|
|
|
Employees |
: 6 |
|
|
|
|
Fittings and Equipment |
for a value of
333.114 |
Eur |
|
|
|
|
Stocks |
for a value of
1.394.000 |
Eur |
PAYMENTS ANALYSIS
The average term of debts to suppliers is shorter than the sector one.
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
The company is active since 1997
Unstable economic results mark the company's financial state of affairs.
with a profit (r.o.e. 0,19%) in the last financial year Upward trend as to the
turnover in the last financial year (+11,64%).
The return on Investment in the last financial year was positive (3,84%)
and in line with the sector's average.
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 7,02 which is decreasing.
As far as payments are concerned, average time is slightly high yet
lower than the field's average.
It shows a good range of liquidity.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
6.675.934 |
filed balance sheet |
|
Profit (Loss) for the period |
1.061 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
5.979.513 |
filed balance sheet |
|
Profit (Loss) for the period |
970 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
6.176.359 |
filed balance sheet |
|
Profit (Loss) for the period |
-1.266 |
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 ) |
|
|
146.176 |
77.908 |
|
. Intangible assets |
|
|
129.727 |
66.326 |
|
. Tangible fixed assets |
|
|
16.449 |
11.582 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
|
|
|
|
|
. Long-term Investments |
|
|
|
|
|
. . Financial loans |
|
|
|
|
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
4.878.472 |
4.368.081 |
|
. Stock |
|
|
1.393.814 |
983.558 |
|
. Credits |
|
|
3.077.689 |
3.051.272 |
|
. . Credits to clients |
|
|
3.077.689 |
3.051.272 |
|
. . Other credits |
|
|
|
|
|
. Short-term financial assets |
|
|
310 |
310 |
|
. Liquid assets |
|
|
406.659 |
332.941 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
26.475 |
21.744 |
|
TOTAL ASSETS |
|
|
5.051.123 |
4.467.733 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
534.068 |
378.611 |
|
. Company's capital |
|
|
100.000 |
100.000 |
|
. Reserves |
|
|
433.007 |
277.641 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
1.061 |
970 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
74.099 |
63.345 |
|
DEBTS |
|
|
4.442.956 |
4.023.668 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
|
|
|
. . Financial short-term banks |
|
|
|
|
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
|
|
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
|
|
|
ACCRUED EXPENSE |
|
|
|
2.109 |
|
TOTAL LIABILITIES |
|
|
5.051.123 |
4.467.733 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
6.693.325 |
5.998.340 |
|
. Revenues from sales/services |
|
|
6.675.934 |
5.979.513 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
6.499.012 |
5.687.426 |
|
. Purchasing expenses |
|
|
5.597.144 |
4.753.858 |
|
. Change of stock (raw material) |
|
|
-402.099 |
-197.045 |
|
. Expenses from services |
|
|
958.897 |
814.619 |
|
. Expenses from leasing |
|
|
83.484 |
78.890 |
|
. General expenses/sundry charges |
|
|
33.430 |
25.911 |
|
. Staff expenses |
|
|
176.353 |
158.967 |
|
. Depreciation/Devaluation costs |
|
|
51.803 |
52.226 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-307.153 |
-324.144 |
|
. Financial charges |
|
|
-307.866 |
-324.327 |
|
. Financial revenues |
|
|
713 |
183 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
135.870 |
39.326 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
23.030 |
26.096 |
|
TAX |
|
|
21.969 |
25.126 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
1.061 |
970 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
6,10 |
5,67 |
2,02 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
7,02 |
9,74 |
2,95 |
|
Current ratio |
Units |
=> 1 |
l |
1,17 |
1,08 |
1,29 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,83 |
0,84 |
0,86 |
|
Return on Sales |
% |
|
l |
0,79 |
0,88 |
3,52 |
|
Average stock waiting period |
dd |
|
l |
75,13 |
59,18 |
82,83 |
|
Credits to clients average term |
dd |
|
l |
165,96 |
183,67 |
105,46 |
|
Debts to suppliers average term |
dd |
|
l |
120,00 |
110,00 |
154,40 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 4,60 |
- 5,42 |
- 1,27 |
|
Labour cost incidence |
% |
|
l |
2,64 |
2,65 |
16,25 |
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:
189.500 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
965.388 |
|
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 69 significant companies.
The companies cash their credits on an average of 105 dd.
The average duration of suppliers debts is about 154 dd.
The sector's profitability is on an average of 3,52%.
The labour cost affects the turnover in the measure of 16,25%.
Goods are held in stock in a range of 82 dd.
The difference between the sales volume and the resources used to
realize it is about 1,11.
The employees costs represent the 16,43% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 5.242.
The insolvency index for the region is 0,70, while for the province it
is 0,55.
Total Bankrupt companies in the province : 6.520.
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%)