MIRA
INFORM REPORT
|
Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FARMACEUTICI FORMENTI S.P.A. |
|
|
|
|
Registered Office : |
Via Vittor Pisani,16 20100 – Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
28.11.1925 |
|
|
|
|
Com. Reg. No.: |
MI146-56507 |
|
|
|
|
Legal Form : |
Joint Stock Company with Sole Shareholder |
|
|
|
|
Line of Business : |
Pharmaceutical Industry. Production of Synthetic Pharmaceutical Substances. Production of Proprietary Medicines. Manufacturing of Homogenized Preparations and of Dietetic Foods. |
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 656.000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
name & address
|
Farmaceutici Formenti S.p.a. |
|
Via |
Vittor Pisani, |
16 |
|
20100 |
- Milano |
(MI) |
-IT- |
SUMMARY
|
Fiscal Code |
: |
00738390152 |
|
Legal Form |
: |
Joint Stock company with sole shareholder |
|
Start of Activities |
: |
28/11/1925 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
35.000.000/50.000.000 Eur |
|
Number of Employees |
: |
from 176 to 200 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
656.000 - Eur |
|
Score |
: |
Risk normal |
|
Creditworthness Rate |
: |
Sufficient |
|
|
|
Under the financial aspect a certain balance is reported which leads |
|
|
|
to a credit with a very limited risk. |
ACTIVITY
Pharmaceutical industry.
Production of synthetic pharmaceutical substances.
Production of proprietary medicines.
Manufacturing of homogenized preparations and of dietetic foods.
LEGAL DATA
Legal Form
: Joint Stock company with sole shareholder
|
Fiscal Code
: 00738390152 |
|
Foreign Trade Reg. no. :
MI070033 since 23/12/1991 |
|
Foreign Trade Reg. no. :
1129 of Milano |
|
Chamber of Commerce no. : 109806 of Milano since 22/01/1926 |
|
Chamber of Commerce no. :
253103 of Varese |
|
Firms' Register
: MI146-56507 since 19/02/1996 |
|
V.A.T. Code
: 00738390152 |
|
Foundation Date |
: 28/11/1925 |
|
|
Establishment Date |
: 28/11/1925 |
|
|
Start of Activities |
: 28/11/1925 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 5.165.000 |
Eur |
|
Subscribed Capital |
: 5.165.000 |
Eur |
|
Paid up Capital |
: 5.165.000 |
Eur |
MEMBERS
|
Dacquino |
Renato |
|
Born in Terzo |
(AL) |
on 28/04/1950 |
- Fiscal Code : DCQRNT50D28L143E |
|
Residence : |
Via |
Correggio |
, 43 |
- 20149 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
12/10/2000 |
|
|
No Protests registered.
|
Banfi |
Mario |
|
Born in Milano |
(MI) |
on 01/10/1950 |
- Fiscal Code : BNFMRA50R01F205M |
|
Residence : |
Via |
Correggio |
, 43 |
- 20149 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
11/11/1996 |
|
|
No Protests registered.
|
Mazzariello |
Giacomo Aldo |
|
Born in Seregno |
(MB) |
on 26/07/1966 |
- Fiscal Code : MZZGML66L26I625Z |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2008 |
|
|
|
Procurator |
12/12/2000 |
|
|
No Protests registered.
|
Pricewaterhousecoopers S.p.a. In Breve |
Pwc |
|
- Fiscal Code : 12979880155 |
|
Residence : |
Viale |
Monte Rosa |
, 91 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditing company |
30/04/2007 |
|
|
|
Genten |
Stefan |
|
Born in Aachen |
on 14/12/1968 |
- Fiscal Code : GNTSFN68T14Z112I |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2008 |
|
|
No Protests registered.
|
Meschiari |
Maurizio Giovanni |
|
Born in Milano |
(MI) |
on 08/10/1947 |
- Fiscal Code : MSCMZG47R08F205S |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
18/05/2005 |
|
|
No Protests registered.
|
Grunenthal Gmbh |
|
|
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
|
No Protests registered.
|
Nava |
Isabella |
|
Born in Melzo |
(MI) |
on 14/03/1963 |
- Fiscal Code : NVASLL63C54F119J |
|
Residence : |
Via |
T. Edison |
, 3/A |
- 20060 |
Pozzuolo Martesana |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
29/09/2005 |
|
|
No Protests registered.
|
Gallone Arnaboldi |
Ernesto |
|
Born in Milano |
(MI) |
on 05/11/1956 |
- Fiscal Code : GLLRST56S05F205P |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
08/02/2007 |
|
|
No Protests registered.
|
Colombo |
Luigia |
|
Born in Rho |
(MI) |
on 18/03/1957 |
- Fiscal Code : CLMLGU57C58H264A |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
08/02/2007 |
|
|
No Protests registered.
|
Becker |
Hartmut Wolfgang |
|
Born in Camburg/saale |
on 13/09/1956 |
- Fiscal Code : BCKHTM56P13Z112U |
|
Residence : |
Oeter Kraft Strasse |
, 37 |
- 40882 |
Ratingen |
- DE - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2008 |
|
|
No Protests registered.
|
Gandini |
Anita |
|
Born in Origgio |
(VA) |
on 24/09/1965 |
- Fiscal Code : GNDNTA65P64G103J |
|
Residence : |
Via |
Correggio |
, 43 |
- 20149 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
01/07/2002 |
|
|
No Protests registered.
|
Germani |
Nicoletta |
|
Born in Roma |
(RM) |
on 15/04/1971 |
- Fiscal Code : GRMNLT71D55H501T |
|
Residence : |
Via |
Costantino |
, 72 |
- 00145 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
22/11/2002 |
|
|
No Protests registered.
|
Grua |
Alberto |
|
Born in Torino |
(TO) |
on 20/05/1961 |
- Fiscal Code : GRULRT61E20L219W |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
28/04/2008 |
|
|
|
Director |
28/04/2008 |
|
|
|
Board Chairman |
28/04/2008 |
|
|
No Protests registered.
*checkings have been performed on a national scale.
*In this module are listed the companies in which members hold or held
positions.
|
DACQUINO |
RENATO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Procurator |
Active |
Registered |
|
FARMITALIA CARLO ERBA S.R.L. |
Milano (MI) - IT - |
07608290156 |
Procurator |
Dismiss |
Ceased |
|
PHARMACIA E UPJOHN S.P.A.IN LIQUIDAZIONE |
Milano (MI) - IT - |
07089990159 |
Procurator |
Dismiss |
Ceased |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Director |
Dismiss |
Registered |
|
BANFI |
MARIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Procurator |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Procurator |
Active |
Registered |
|
MAZZARIELLO |
GIACOMO ALDO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Director |
Active |
Registered |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Procurator |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Director |
Active |
Registered |
|
GALLONE ARNABOLDI |
ERNESTO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Procurator |
Active |
Registered |
|
PHARMACIA E UPJOHN S.P.A.IN LIQUIDAZIONE |
Milano (MI) - IT - |
07089990159 |
Procurator |
- |
Ceased |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Procurator |
Active |
Registered |
|
COLOMBO |
LUIGIA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Procurator |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Procurator |
Active |
Registered |
|
GANDINI |
ANITA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Procurator |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Procurator |
Active |
Registered |
|
GERMANI |
NICOLETTA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Attorney with special power |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Attorney with special power |
Active |
Registered |
|
GRUA |
ALBERTO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Managing Director |
Active |
Registered |
|
DOTT. FORMENTI - S.P.A. |
Milano (MI) - IT - |
00795180157 |
Director |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Managing Director |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Director |
Active |
Registered |
|
PRODOTTI FORMENTI S.R.L. |
Milano (MI) - IT - |
04485620159 |
Board Chairman |
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 |
|
Grunenthal Gmbh |
|
|
5.165.000 .Eur |
100,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Prodotti Formenti S.r.l. |
Milano - IT - |
04485620159 |
1.500.000 .Eur |
100,00 |
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Registered office |
in : |
|
|
|
|
|
Via |
Vittor Pisani |
, 16 |
- 20100 - |
Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/43051 |
|
|
|
|
FAX |
: 02/4305356 |
|
- |
Branch |
(Industrial workshop ) |
since 01/12/1988 |
in : |
|
|
|
|
|
Via |
I Maggio |
, 0015 |
- 21040 - |
Origgio |
(VA) |
- IT - |
|
- |
Branch |
(Factory ) |
since 20/12/1996 |
in : |
|
|
|
|
|
Via |
Di Vittorio |
, 2 |
- 21040 - |
Origgio |
(VA) |
- IT - |
|
- |
Branch |
(Administrative office ) |
since 17/01/2005 |
in : |
|
|
|
|
|
Via |
Koch Robert |
, 1/2 |
- 20152 - |
Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/43051 |
|
|
|
|
FAX |
: 02/4305356 |
|
|
|
|
Employees |
: 189 |
|
|
|
|
Fittings and Equipment |
for a value of
3.800.000 |
Eur |
|
|
|
|
Stocks |
for a value of
7.120.000 |
Eur |
|
|
The firm operates abroad as exporter. .
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Austria |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Ex-Members /
Ex-Positions |
|
Patelli |
Luciano |
|
Born in Bergamo |
on 21/07/1959 |
- Fiscal Code : PTLLCN59L21A794O |
|
Residence : |
Via |
Vittor Pisani |
, 19 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Schiavi |
Pierangelo |
|
Born in BERNA |
on 26/08/1951 |
- Fiscal Code : SCHPNG51M26Z133A |
|
Residence : |
Via |
MILAZZO |
, 83/B |
- 27100 |
Pavia |
(PV) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Broggi |
Nicola Pietro |
|
Born in MILANO |
on 06/07/1965 |
- Fiscal Code : BRGNLP65L06F205W |
|
Residence : |
Via |
VITTOR PISANI |
, 16 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Formenti |
Filippo |
|
Born in Milano |
on 16/07/1956 |
- Fiscal Code : FRMFPP56L16F205D |
|
Residence : |
Via |
Correggio |
, 43 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Procurator |
|
Gianotti |
Renato |
|
Born in Milano |
on 02/07/1948 |
- Fiscal Code : GNTRNT48L02F205R |
|
Residence : |
Via |
Correggio |
, 43 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Procurator |
|
Biassoni |
Vittorio |
|
Born in Monza |
on 30/03/1956 |
- Fiscal Code : BSSVTR56C30F204Z |
|
Residence : |
Via |
Correggio |
, 43 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Procurator |
|
Dyckerhoff |
Gotz Alexander Hans |
|
Born in Wiesbaden |
on 18/07/1942 |
- Fiscal Code : DYCGZL42L18Z112M |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Board Chairman |
|
Von Piettenberg |
Johann Adolf Wolter |
|
Born in Heeren Werve J Kamen |
on 10/10/1937 |
- Fiscal Code : VNPJNN37R10Z112T |
|
Residence : |
Via |
Vittor Pisani |
, 16 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Formenti |
Andrea |
|
Born in Milano |
on 25/11/1958 |
- Fiscal Code : FRMNDR58S25F205A |
|
Residence : |
Largo |
Richini Francesco |
, 2 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Managing Director |
|
Director |
|
Procurator |
|
Gradi |
Giovanbattista |
|
Born in Monza |
on 13/01/1960 |
- Fiscal Code : GRDGNB60A13F704R |
|
Residence : |
Via |
Correggio |
, 43 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Procurator |
|
Barambilla |
Roberto |
|
Born in Concorezzo |
on 26/09/1955 |
- Fiscal Code : BRMRRT55P26C952U |
|
Residence : |
Via |
Correggio |
, 43 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Procurator |
|
Iannantuoni |
Anna |
|
Born in San Marco la Catola |
on 28/10/1961 |
- Fiscal Code : NNNNNA61R68H986E |
|
Residence : |
Via |
Puglia |
, 5 |
- 20036 |
Meda |
(MB) |
- IT - |
|
Position |
|
Procurator |
|
Koremans |
Robert |
|
Born in DORDRECHT |
on 27/07/1962 |
- Fiscal Code : KRMRRT62L27Z126H |
|
Residence : |
Via |
VITTOR PISANI |
, 16 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
The firm absorved |
|
Rister S.R.L. |
|
, MILANO |
- IT - |
|
Fiscal Code: 07396700150 |
|
Date |
: |
24/10/1997 |
|
The firm absorbed by merging of |
|
PRIMARFIN SRL |
|
Via |
GRAMSCI |
, 1/P |
, 46047 |
, Porto Mantovano |
(MI) |
- IT - |
|
Fiscal Code: 09053840154 |
|
Date |
: |
24/10/1997 |
|
Project of merging by taking over of |
|
PRIMARFIN SRL |
|
Via |
GRAMSCI |
, 1/P |
, 46047 |
, Porto Mantovano |
(MI) |
- IT - |
|
Fiscal Code: 09053840154 |
|
Date |
Merging/Splitting-up Project : |
12/06/1997 |
|
The firm absorbed by merging of |
|
FARMACEUTICI FORMENTI S.P.A. |
|
, 20100 |
, Milano |
(MI) |
- IT - |
|
Fiscal Code: 04845690157 |
|
Date |
: |
28/08/1996 |
|
Project of merging by taking over of |
|
FARMACEUTICI FORMENTI S.P.A. |
|
, 20100 |
, Milano |
(MI) |
- IT - |
|
Fiscal Code: 04845690157 |
|
Date |
Merging/Splitting-up Project : |
27/06/1996 |
PAYMENTS ANALYSIS
The average term of debts to suppliers is higher 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.
|
Immovable Type |
Value |
|
Real estates |
11.247.381 .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 1925
During the last years, it achieved profits (r.o.e. 19,84% on 2007) and
with an upward trend in turnover trend during the last financial year (+13,73%
in 2007).
The return on Investment in the last financial year was positive (7,22%)
falling within the field's average.
The financial status of the company is fairly balanced with an
indebtedness level of 1,67 and falling as against the previous year (2,09).
The financial exposure is moderate, on the other hand the recourse to
commercial credit is high, with a high average payment period even in
comparison with the sector's.
Even liquidity is rather modest.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
47.441.032 |
filed balance sheet |
|
Profit (Loss) for the period |
4.104.196 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
41.713.197 |
filed balance sheet |
|
Profit (Loss) for the period |
928.520 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
44.536.483 |
filed balance sheet |
|
Profit (Loss) for the period |
9.414.858 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
39.443.328 |
filed balance sheet |
|
Profit (Loss) for the period |
3.108.259 |
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 31/12/2007 - Months 12 - Currency Eur - Amounts x 1 |
|
Balance Sheet as
at 31/12/2006 - Months 12 - Currency Eur - Amounts x 1 |
|
Years |
|
|
2007 |
2006 |
|
|
BALANCE SHEET
ACCOUNTS |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
38.919.337 |
31.267.274 |
|
. Intangible assets |
|
|
239.746 |
308.282 |
|
. Tangible fixed assets |
|
|
22.989.158 |
20.391.362 |
|
. . Land and buildings |
|
|
11.247.381 |
10.984.309 |
|
. . Plants, Equipm.and Machinery |
|
|
5.418.142 |
5.720.446 |
|
. Long-term Investments |
|
|
15.690.433 |
10.567.630 |
|
. . Financial loans |
|
|
15.690.433 |
10.567.630 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
18.959.751 |
19.299.491 |
|
. Stock |
|
|
2.925.461 |
3.622.456 |
|
. Credits |
|
|
15.778.364 |
15.127.694 |
|
. . Credits to clients |
|
|
15.335.424 |
13.167.202 |
|
. . Other credits |
|
|
442.940 |
1.960.492 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
255.926 |
549.341 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
150.844 |
51.837 |
|
TOTAL ASSETS |
|
|
58.029.932 |
50.618.602 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
20.681.860 |
15.432.445 |
|
. Company's capital |
|
|
5.165.000 |
5.165.000 |
|
. Reserves |
|
|
10.393.704 |
5.202.059 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
1.018.960 |
4.136.866 |
|
. Profit (loss) |
|
|
4.104.196 |
928.520 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
128.500 |
40.000 |
|
SEVERANCE INDEMNITY FUND |
|
|
2.222.582 |
2.235.471 |
|
DEBTS |
|
|
34.996.305 |
32.900.762 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
17.149.961 |
18.060.628 |
|
. . Financial short-term banks |
|
|
3.136 |
|
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
17.146.825 |
18.060.628 |
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
15.314.891 |
13.039.029 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
2.531.453 |
1.801.105 |
|
ACCRUED EXPENSE |
|
|
685 |
9.924 |
|
TOTAL LIABILITIES |
|
|
58.029.932 |
50.618.602 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
50.627.684 |
42.873.389 |
|
. Revenues from sales/services |
|
|
47.441.032 |
41.713.197 |
|
. Change of stock (products) |
|
|
-341.563 |
-390.794 |
|
OPERATING EXPENSES |
|
|
46.435.530 |
42.486.052 |
|
. Purchasing expenses |
|
|
26.163.681 |
23.462.345 |
|
. Change of stock (raw material) |
|
|
355.432 |
122.398 |
|
. Expenses from services |
|
|
7.779.003 |
7.507.985 |
|
. Expenses from leasing |
|
|
226.824 |
168.774 |
|
. General expenses/sundry charges |
|
|
1.187.518 |
1.000.231 |
|
. Staff expenses |
|
|
8.228.532 |
7.698.433 |
|
. Depreciation/Devaluation costs |
|
|
2.494.540 |
2.525.886 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
1.754.555 |
989.325 |
|
. Financial charges |
|
|
-737.389 |
-767.071 |
|
. Financial revenues |
|
|
2.491.944 |
1.756.396 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-10.275 |
18.195 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
5.936.434 |
1.394.857 |
|
TAX |
|
|
1.832.238 |
466.337 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
4.104.196 |
928.520 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2007 |
as at 31/12/2006 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
0,58 |
0,56 |
1,60 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
1,67 |
2,09 |
1,68 |
|
Current ratio |
Units |
=> 1 |
l |
0,54 |
0,58 |
1,35 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,45 |
0,47 |
1,00 |
|
Return on Sales |
% |
|
l |
13,90 |
8,28 |
5,90 |
|
Average stock waiting period |
dd |
|
l |
22,17 |
31,24 |
51,22 |
|
Credits to clients average term |
dd |
|
l |
116,35 |
113,61 |
118,22 |
|
Debts to suppliers average term |
dd |
|
l |
161,35 |
150,73 |
119,55 |
|
Net financial revenues/ charges incidence |
% |
|
l |
3,69 |
2,37 |
- 0,57 |
|
Labour cost incidence |
% |
|
l |
17,34 |
18,45 |
18,01 |
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:
656.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
3.839.216 |
|
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 368 significant companies.
The companies cash their credits on an average of 118 dd.
The average duration of suppliers debts is about 119 dd.
The sector's profitability is on an average of 5,90%.
The labour cost affects the turnover in the measure of 18,01%.
Goods are held in stock in a range of 51 dd.
The difference between the sales volume and the resources used to
realize it is about 1,00.
The employees costs represent the 18,26% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistically the trade activity shows trifling crises.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province they
count to 24.765.
The insolvency index for the region is 0,55, while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
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%)