MIRA
INFORM REPORT
|
Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
COSMO S.R.L. |
|
|
|
|
Registered Office : |
Strada Statale Laghi Di Avigliana, 64
Fraz. Roata Raff 12022 - Busca (CN) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
20.04.1987 |
|
|
|
|
Com. Reg. No.: |
CN078-6338 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Assembling of Agricultural and Zootechnical Machines
and Equipment. Manufacture of Various Agricultural Machines. |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
name & address
|
Cosmo S.r.l. |
|
Strada Statale |
Laghi Di Avigliana, |
64 Fraz. Roata Raffo |
|
12022 |
- Busca |
(CN) |
-IT- |
SUMMARY
|
Fiscal Code |
: |
01969400041 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
20/04/1987 |
|
Patrimonial Consistence |
: |
1.500.000 Eur |
|
Turnover Range |
: |
5.000.000/6.500.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
CREDIT ANALYSIS
|
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
Manufacturing and assembling of agricultural and zootechnical machines and
equipment.
Manufacture of various agricultural machines.
LEGAL DATA
Legal Form
: Limited liability company
|
Fiscal Code
: 01969400041 |
|
Foreign Trade Reg. no.
: 12022 of Cuneo since 22/07/1992 |
|
Chamber of Commerce no. :
146550 of Cuneo since 17/03/1987 |
|
Firms' Register
: CN078-6338 since 19/02/1996 |
|
V.A.T. Code
: 01969400041 |
|
Court : 6338 of Cuneo |
|
Foundation Date |
: 17/02/1987 |
|
|
Establishment Date |
: 17/02/1987 |
|
|
Start of Activities |
: 20/04/1987 |
|
|
Legal Duration Date |
: 31/12/2030 |
|
|
Nominal Capital |
: 51.800 |
Eur |
|
Subscribed Capital |
: 51.800 |
Eur |
|
Paid up Capital |
: 51.800 |
Eur |
MEMBERS
|
Paolino |
Duilio |
|
Born in Cuneo |
(CN) |
on 27/11/1953 |
- Fiscal Code : PLNDLU53S27D205Z |
|
Residence : |
Viale |
Degli Angeli |
, 3 |
- 12100 |
Cuneo |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
18/12/1998 |
|
|
No Protests registered.
|
Emanuele |
Gabriella |
|
Born in Avellino |
(AV) |
on 14/02/1955 |
- Fiscal Code : MNLGRL55B54A509W |
|
Residence : |
Via |
A. Sobrero |
, 3 |
- 12100 |
Cuneo |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
30/06/2003 |
|
|
|
Director |
18/12/1998 |
|
|
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.
|
PAOLINO |
DUILIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ECO-ART DI LINGUA ALESSANDRA E C. SAS |
Cuneo (CN) - IT - |
02274090048 |
Limited Partner |
Dismiss |
Registered |
|
GI E DI SOCIETA' SEMPLICE |
Cuneo (CN) - IT - |
96022520041 |
Partner |
Active |
Registered |
|
IL VIALE DI EMANUELE GABRIELLA E C. S.N.C.
|
Cuneo (CN) - IT - |
02554940045 |
Partner |
Active |
Registered |
|
MECHANICAL EXPORT CUNEO |
Cuneo (CN) - IT - |
03194350041 |
Vice-Chairman |
Active |
Registered |
|
MECHANICAL EXPORT CUNEO |
Cuneo (CN) - IT - |
03194350041 |
Director |
Active |
Registered |
|
PAOLINO DUILIO |
Cuneo (CN) - IT - |
|
Proprietor |
Dismiss |
Ceased |
|
UNACOMA SERVICE SOCIETA' A RESPONSABILITA'
LIMITATA UNIPERSONALE |
Bologna (BO) - IT - |
04227291004 |
Director |
Active |
Registered |
|
EMANUELE |
GABRIELLA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
GI E DI SOCIETA' SEMPLICE |
Cuneo (CN) - IT - |
96022520041 |
Partner |
Active |
Registered |
|
I.M.C. EUROPA - S.R.L. IN LIQUIDAZIONE |
Busca (CN) - IT - |
01010810040 |
Sole Director |
Dismiss |
Registered |
|
I.M.C. EUROPA - S.R.L. IN LIQUIDAZIONE |
Busca (CN) - IT - |
01010810040 |
Liquidator |
Active |
Registered |
|
IL VIALE DI EMANUELE GABRIELLA E C. S.N.C. |
Cuneo (CN) - IT - |
02554940045 |
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 |
|
I.m.c. Europa - S.r.l. In Liquidazione |
Busca - IT - |
01010810040 |
21.800 .Eur |
42,08 |
|
Paolino Duilio |
Cuneo - IT - |
PLNDLU53S27D205Z |
15.000 .Eur |
28,95 |
|
Emanuele Gabriella |
Cuneo - IT - |
MNLGRL55B54A509W |
15.000 .Eur |
28,95 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Mechanical Export Cuneo |
Cuneo - IT - |
03194350041 |
|
|
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Strada Statale |
Laghi Di Avigliana |
, 64 Loc. Fraz. Roata Raffo |
- 12022 - |
Busca |
(CN) |
- IT - |
|
|
|
|
PHONE |
: 0171/631716 |
|
- |
Branch |
(Store ) |
since 14/01/2008 |
in : |
|
|
|
|
|
Frazione |
Roata Raffo |
, 69 |
- 12022 - |
Busca |
(CN) |
- IT - |
|
|
|
|
Employees |
: 21 |
|
|
|
|
Fittings and Equipment |
for a value of
400.000 |
Eur |
|
|
|
|
Stocks |
for a value of
1.000.000 |
Eur |
|
|
|
|
Vehicles |
: 1. |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own vehicles and third parties ones
|
|
To purchase foreign products the firm uses the following channels :
|
- national or foreign important buyers |
|
- distributors |
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own sales net-work |
|
- its own agents |
|
- direct orders from foreign companies |
Subject generally proposes terms of sale between 30 and 60 days.
Main sales modalities: issue cheques and bank transfers.
Purchase terms: 60-90-120 days.
Subject usually pays by IDR, cash orders and drafts.
Import comes generally from the following nations:
|
- Cipro |
Export is mainly towards:
|
- Islanda |
|
- Rep.di Guinea |
|
- Austria |
|
- Francia |
|
- Belgio |
|
- Irlanda |
|
- Congo Est |
|
- Somalia |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Ex-Members / Ex-Positions |
|
Paolino |
Duilio |
|
Born in Cuneo |
on 27/11/1953 |
- Fiscal Code : PLNDLU53S27D205Z |
|
Residence : |
Viale |
Degli Angeli |
, 3 |
- 12100 |
Cuneo |
(CN) |
- IT - |
|
Position |
|
Chairman |
|
Managing Director |
|
Bergese |
Sergio |
|
Born in Fossano |
on 12/10/1957 |
- Fiscal Code : BRGSRG57R12D742X |
|
Position |
|
Managing Director |
|
Roseo |
Vincenzo |
|
on 06/11/1947 |
|
Position |
|
Chairman and Managing Director |
|
Emanuele |
Gabriella |
|
Born in Avellino |
on 14/02/1955 |
- Fiscal Code : MNLGRL55B54A509W |
|
Residence : |
Via |
A. Sobrero |
, 3 |
- 12100 |
Cuneo |
(CN) |
- IT - |
|
Position |
|
Managing Director |
|
Former seats |
|
- |
Branch |
(Factory ) |
since 20/04/1987 |
|
|
|
|
|
Strada Statale Cuneo-Busca |
- 12022 |
- Busca |
(CN) |
- IT - |
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 1987
During the last years, it achieved profits (r.o.e. 11,11% on 2006) with
a remarkable upward trend (+17,27% on 2006 compared to 2005 and +10,02% on 2005
compared to 2004).
The operating result was positive in the last financial year (7,01%) and
reflects the field's average.
The financial status of the company is fairly balanced with an
indebtedness level of 1,63 with an improving trend as on the decrease.
Payments average period is high 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 |
5.345.038 |
filed balance sheet |
|
Profit (Loss) for the period |
112.219 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
4.557.643 |
filed balance sheet |
|
Profit (Loss) for the period |
69.719 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
4.142.384 |
filed balance sheet |
|
Profit (Loss) for the period |
10.091 |
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 ) |
|
|
861.587 |
918.355 |
|
. Intangible assets |
|
|
86.155 |
112.773 |
|
. Tangible fixed assets |
|
|
775.432 |
805.582 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
|
|
|
|
|
. Long-term Investments |
|
|
|
|
|
. . Financial loans |
|
|
|
|
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
3.860.568 |
4.174.793 |
|
. Stock |
|
|
1.002.487 |
999.541 |
|
. Credits |
|
|
2.243.823 |
2.318.019 |
|
. . Credits to clients |
|
|
2.243.823 |
2.318.019 |
|
. . Other credits |
|
|
|
|
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
614.258 |
857.233 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
9.313 |
7.231 |
|
TOTAL ASSETS |
|
|
4.731.468 |
5.100.379 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
1.009.334 |
897.114 |
|
. Company's capital |
|
|
51.800 |
51.800 |
|
. Reserves |
|
|
845.315 |
775.595 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
112.219 |
69.719 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
154.008 |
133.855 |
|
DEBTS |
|
|
3.568.010 |
4.068.783 |
|
. 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 |
|
|
116 |
627 |
|
TOTAL LIABILITIES |
|
|
4.731.468 |
5.100.379 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
5.412.401 |
4.598.912 |
|
. Revenues from sales/services |
|
|
5.345.038 |
4.557.643 |
|
. Change of stock (products) |
|
|
2.946 |
|
|
OPERATING EXPENSES |
|
|
5.080.568 |
4.412.718 |
|
. Purchasing expenses |
|
|
3.187.295 |
2.820.400 |
|
. Change of stock (raw material) |
|
|
|
-72.464 |
|
. Expenses from services |
|
|
1.122.827 |
951.494 |
|
. Expenses from leasing |
|
|
2.033 |
771 |
|
. General expenses/sundry charges |
|
|
13.949 |
23.605 |
|
. Staff expenses |
|
|
557.403 |
508.303 |
|
. Depreciation/Devaluation costs |
|
|
197.061 |
180.609 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-80.439 |
-31.027 |
|
. Financial charges |
|
|
-90.048 |
-33.514 |
|
. Financial revenues |
|
|
9.609 |
2.487 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-6.678 |
-33.533 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
244.716 |
121.634 |
|
TAX |
|
|
132.497 |
51.915 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
112.219 |
69.719 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
2,86 |
2,07 |
2,11 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
1,63 |
2,60 |
2,75 |
|
Current ratio |
Units |
=> 1 |
l |
1,70 |
1,30 |
1,29 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,26 |
0,99 |
0,86 |
|
Return on Sales |
% |
|
l |
5,78 |
5,49 |
3,42 |
|
Average stock waiting period |
dd |
|
l |
67,50 |
78,94 |
81,46 |
|
Credits to clients average term |
dd |
|
l |
151,09 |
183,09 |
117,50 |
|
Debts to suppliers average term |
dd |
|
l |
240,00 |
360,00 |
150,50 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,50 |
- 0,68 |
- 0,99 |
|
Labour cost incidence |
% |
|
l |
10,42 |
11,15 |
17,31 |
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)
MARKET / TERRITORY DATA
|
Population living in the province |
: |
569.987 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
SECTOR DATA
The values are calculated on a base of 392 significant companies.
The companies cash their credits on an average of 117 dd.
The average duration of suppliers debts is about 150 dd.
The sector's profitability is on an average of 3,42%.
The labour cost affects the turnover in the measure of 17,31%.
Goods are held in stock in a range of 81 dd.
The difference between the sales volume and the resources used to
realize it is about 1,16.
The employees costs represent the 17,56% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 27.019 protested subjects are found; in the province they
count to 1.458.
The insolvency index for the region is 0,63, while for the province it
is 0,26.
Total Bankrupt companies in the province : 1.299.
Total Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.38 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.64.55 |
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%)