MIRA
INFORM REPORT
|
Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SIRTECH S.P.A. |
|
|
|
|
Registered Office : |
Via Casilina, Km. 131.600 03030 - Piedimonte San Germano (FR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
07.05.1998 |
|
|
|
|
Com. Reg. No.: |
FR019-5046 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of Machine Tools for Metal Working and Tools for Machines. Software and Data Processing Consultant. |
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 222.000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
|
Sirtech S.p.a. |
|
Via |
Casilina, |
Km. 131.600 |
|
03030 |
- Piedimonte San Germano |
(FR) |
-IT- |
SUMMARY
|
Fiscal Code |
: |
01876870609 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
07/05/1998 |
|
Patrimonial Consistence |
: |
1.500.000 Eur |
|
Turnover Range |
: |
6.500.000/7.750.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
222.000 - 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. |
|
|
|
n.b.: The Creditworthness Rate shows, in percentage, the ratio between
the suggested credit opinion and the credit amount that the firm could get if
the financial situation would be completely positive. |
ACTIVITY
Manufacture of machine tools for metal working and tools for machines.
Software and data processing consultant.
LEGAL DATA
Legal Form :
Joint stock company
|
Fiscal Code : 01876870609 |
|
Chamber of Commerce no.
: 108465 of Frosinone since 02/11/1994 |
|
Firms' Register : FR019-5046 since 19/02/1996 |
|
V.A.T. Code : 01876870609 |
|
R. E. C. no. : 36198 of Frosinone since 12/01/1998 |
|
|
|
Establishment Date |
: 18/03/1994 |
|
|
Start of Activities |
: 07/05/1998 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.001.000 |
Eur |
|
Subscribed Capital |
: 1.001.000 |
Eur |
|
Paid up Capital |
: 1.001.000 |
Eur |
MEMBERS
|
Consales |
Salvatore Rino |
|
Born in Cassino |
(FR) |
on 29/10/1945 |
- Fiscal Code : CNSSVT45R29C034H |
|
Residence : |
Via |
Ponte La Pietra |
, 28 |
- 03043 |
Cassino |
(FR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
15/06/2006 |
|
|
No Protests registered.
|
Angrisani |
Benedetto |
|
Born in Montoro Superiore |
(AV) |
on 12/07/1944 |
- Fiscal Code : NGRBDT44L12F694S |
|
Residence : |
Via |
E. De Nicola |
, 116 |
- 03043 |
Cassino |
(FR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Representative of bondholders |
09/09/1998 |
|
|
|
Gargano |
Liliana |
|
Born in Cervaro |
(FR) |
on 01/09/1955 |
- Fiscal Code : GRGLLN55P41C545C |
|
Residence : |
Via |
Monteverde |
, 2 |
- 03044 |
Cervaro |
(FR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Representative of bondholders |
16/06/2008 |
|
|
|
Schedi |
Jlenia |
|
Born in Roccasecca |
(FR) |
on 05/10/1975 |
- Fiscal Code : SCHJLN75R45H443B |
|
Residence : |
Via |
G. Di Biasio |
, 144 |
- 03043 |
Cassino |
(FR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Representative of bondholders |
16/06/2008 |
|
|
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.
|
CONSALES |
SALVATORE RINO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
AGENZIA PER LO SVILUPPO DELL'ARTIGIANATO E
DELLA PICCOLA MEDIA IM PRESA SOCIETA |
Cassino (FR) - IT - |
02103760605 |
Director |
Active |
Registered |
|
BONOMI IMMOBILIARE S.R.L. |
Cassino (FR) - IT - |
02417590607 |
Sole Director |
Active |
Registered |
|
C.I.R. S.P.A. |
Cassino (FR) - IT - |
02007510601 |
Board Chairman |
Dismiss |
Registered |
|
COIN LEASING - S.P.A. IN LIQUIDAZIONE |
- - |
01184730594 |
Board Chairman |
Dismiss |
Ceased |
|
CONSALES SALVATORE RINO |
Cassino (FR) - IT - |
CNSSVT45R29C034H |
Proprietor |
Dismiss |
Registered |
|
COOPERATIVA EDIMEDIA A R.L. |
Frosinone (FR) - IT - |
01878500600 |
Board Chairman |
Dismiss |
Ceased |
|
EDIZIONI CASSINO S.R.L. |
Cassino (FR) - IT - |
02107180602 |
Board Chairman |
Dismiss |
Registered |
|
FIDES MARKETING E PUBBLICITA' DI BORRACCIO SERGIO E C. S.N.C. |
Cassino (FR) - IT - |
01816060600 |
Partner |
Dismiss |
Ceased |
|
FINVEST - S.P.A. IN LIQUIDAZIONE |
Cassino (FR) - IT - |
01184740593 |
Chairman |
Dismiss |
Ceased |
|
FONDAZIONE S.R.L. |
Cassino (FR) - IT - |
90022320601 |
Sole Director |
Active |
Registered |
|
IMMOBILI INDUSTRIALI S.P.A. |
Cassino (FR) - IT - |
02292760606 |
Sole Director |
Active |
Registered |
|
INVESTIMENTI IMMOBILIARI S.P.A. |
Piedimonte San Germano (FR) - IT - |
02109770608 |
Sole Director |
Active |
Registered |
|
M.U.S.A. S.R.L. (MACCHINE UTENSILI
SERVIZIO ASSISTENZA) |
Piedimonte San Germano (FR) - IT - |
02381780606 |
Sole Director |
Active |
Registered |
|
MA GRIFFE S.R.L. |
Cassino (FR) - IT - |
01586010603 |
Sole Director |
Dismiss |
Registered |
|
RANIERI FELLA S.R.L. |
Cassino (FR) - IT - |
02121540609 |
Sole Director |
Dismiss |
Registered |
|
SVILUPPO IMMOBILIARE S.P.A. |
- - |
02122080605 |
Board Chairman |
Dismiss |
Registered |
|
SVILUPPO INDUSTRIALE S.R.L. |
Cassino (FR) - IT - |
90022340609 |
Sole Director |
Active |
Registered |
|
SVILUPPO MERIDIONALE IMPRESA E LAVORO SOCIETA' CONSORTILE MISTA A
RESPONSABILITA |
Cassino (FR) - IT - |
02084900600 |
Director |
Active |
Registered |
|
VALDITEVERE DONNA SOCIETA' A RESPONSABILITA' LIMITATA |
Firenze (FI) - IT - |
04940260484 |
Liquidator |
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 |
|
Sirtech S.p.a. |
Piedimonte San Germano - IT - |
01876870609 |
91.000 .Eur |
9,09 |
|
VALENTE CARMELA |
|
VLNCML57S46G592A |
398.190 .Eur |
39,77 |
|
CONSALES DIEGO |
|
CNSDGI73E17C034O |
189.280 .Eur |
18,90 |
|
CONSALES LUCA |
Cassino - IT - |
CNSLCU77H08C034L |
153.530 .Eur |
15,33 |
|
FIDES IMMOBILIARE DI DE SANTIS DANIELA E C. S.A.S. |
|
01785410604 |
39.000 .Eur |
3,89 |
|
Scappaticci Tommaso |
|
SCPTMS46D18A348O |
78.000 .Eur |
7,79 |
|
Maddalena Claudio |
|
MDDCLD59H18F839O |
39.000 .Eur |
3,89 |
|
Augugliaro Ignazio |
|
GGLGNZ45D27I535X |
13.000 .Eur |
1,29 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Sirtech S.p.a. |
Piedimonte San Germano - IT - |
01876870609 |
91.000 .Eur |
9,09 |
Active |
|
LIFE IMMOBILIARE S.P.A. |
Cassino - IT - |
00367780947 |
10.277 .Eur |
0,28 |
Active |
|
Edizioni Cassino S.R.L. |
Cassino - IT - |
02107180602 |
2.582 .Eur |
6,67 |
Active |
|
Sviluppo Meridionale Impresa E Lavoro Societa' Consortile Mista A
Responsabilita |
Cassino - IT - |
02084900600 |
5.164 .Eur |
12,50 |
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Via |
Casilina |
, Km. 131.600 |
- 03030 - |
Piedimonte San Germano |
(FR) |
- IT - |
|
|
|
|
PHONE |
: 0776/402027 |
|
|
|
|
FAX |
: 0776/404781 |
|
|
|
|
Website |
: www.sirtech.it |
|
|
|
|
Employees |
: 7 |
|
|
|
|
Fittings and Equipment |
for a value of
110.000 |
Eur |
|
|
|
|
Stocks |
for a value of
3.780.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a regional scale.
Transports are mainly done using own vehicles and third parties ones
The company sales mainly to retailers.
Subject generally proposes terms of sale between 30 and 60 days.
Subject usually collects by cash order and drafts.
Purchases are mainly paid with terms of 30/90 days.
Subject usually pays by IDR, cash orders and drafts.
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
29/11/1996 |
PAYMENTS ANALYSIS
The average term of debts to suplliers is normal compared with that of
the sector.
PAYMENTS SCORE : - No insolvency
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 1998
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 10,13% in 2007 with an increase in 2007 (+8,89%).
and in line with the sector's average.
The financial status of the company is fairly balanced with an
indebtedness level of 2,5 with an improving trend as on the decrease.
The recourse to suppliers' credit is substantial with long payments
average period anyway within the field's average.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
7.661.886 |
filed balance sheet |
|
Profit (Loss) for the period |
140.303 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
7.036.141 |
filed balance sheet |
|
Profit (Loss) for the period |
114.019 |
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 ) |
|
|
184.168 |
218.821 |
|
. Intangible assets |
|
|
2.616 |
2.764 |
|
. Tangible fixed assets |
|
|
55.932 |
89.869 |
|
. . Land and buildings |
|
|
|
|
|
. . Plants, Equipm.and Machinery |
|
|
|
|
|
. Long-term Investments |
|
|
125.620 |
126.188 |
|
. . Financial loans |
|
|
125.620 |
126.188 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
6.414.283 |
6.565.572 |
|
. Stock |
|
|
3.780.910 |
3.130.549 |
|
. Credits |
|
|
2.496.700 |
3.132.502 |
|
. . Credits to clients |
|
|
|
3.132.502 |
|
. . Other credits |
|
|
2.496.700 |
|
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
136.673 |
302.521 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
203.072 |
148.832 |
|
TOTAL ASSETS |
|
|
6.801.523 |
6.933.225 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
1.383.747 |
1.243.443 |
|
. Company's capital |
|
|
1.001.000 |
1.001.000 |
|
. Reserves |
|
|
137.444 |
23.424 |
|
. Reserves company's own shares |
|
|
105.000 |
105.000 |
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
140.303 |
114.019 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
35.640 |
29.131 |
|
DEBTS |
|
|
5.204.414 |
5.516.874 |
|
. 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 |
|
|
177.722 |
143.777 |
|
TOTAL LIABILITIES |
|
|
6.801.523 |
6.933.225 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
7.712.973 |
7.133.735 |
|
. Revenues from sales/services |
|
|
7.661.886 |
7.036.141 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
7.356.363 |
6.842.930 |
|
. Purchasing expenses |
|
|
6.411.741 |
6.247.512 |
|
. Change of stock (raw material) |
|
|
-650.361 |
-788.503 |
|
. Expenses from services |
|
|
1.205.620 |
1.049.404 |
|
. Expenses from leasing |
|
|
86.243 |
78.000 |
|
. General expenses/sundry charges |
|
|
107.094 |
73.408 |
|
. Staff expenses |
|
|
165.852 |
156.604 |
|
. Depreciation/Devaluation costs |
|
|
30.174 |
26.505 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-91.720 |
-92.303 |
|
. Financial charges |
|
|
-239.097 |
-214.323 |
|
. Financial revenues |
|
|
147.377 |
122.020 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-6.865 |
15.171 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
258.025 |
213.673 |
|
TAX |
|
|
117.722 |
99.654 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
140.303 |
114.019 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2007 |
as at 31/12/2006 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
16,37 |
10,93 |
1,79 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,50 |
3,29 |
2,65 |
|
Current ratio |
Units |
=> 1 |
l |
1,77 |
1,49 |
1,30 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,72 |
0,78 |
0,91 |
|
Return on Sales |
% |
|
l |
2,22 |
1,99 |
4,16 |
|
Average stock waiting period |
dd |
|
l |
177,62 |
160,16 |
64,04 |
|
Credits to clients average term |
dd |
|
l |
n.c. |
160,27 |
130,89 |
|
Debts to suppliers average term |
dd |
|
l |
160,00 |
190,00 |
160,56 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,19 |
- 1,31 |
- 0,96 |
|
Labour cost incidence |
% |
|
l |
2,16 |
2,22 |
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:
222.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
489.042 |
|
Population living in the region |
: |
5.269.972 |
|
Number of families in the region |
: |
2.091.220 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
472 |
|
- per non food products |
: |
1.832 |
|
- per energy consume |
: |
102 |
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 remarkably risky.
In the region 53.924 protested subjects are found; in the province they
count to 6.385.
The insolvency index for the region is 1,04, while for the province it
is 1,31.
Total Bankrupt companies in the province : 1.671.
Total Bankrupt companies in the region : 37.442.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
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%)