MIRA INFORM REPORT
|
Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
|
Name : |
GOGLIO S.P.A. |
|
|
|
|
Registered Office : |
Via Andrea
Solari, 10, 20100- Milano (MI) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
08.07.1961 |
|
|
|
|
Com. Reg. No.: |
MI146-102539 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Transformation of paper and cardboard; manufacturing of paper,
card-board. |
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
759.000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Name & address
Goglio S.p.a. O In Forma Estesa Goglio Luigi Milano S.p.a.
Via Andrea
Solari, 10
20100 - Milano (MI) -IT-
SUMMARY
|
Fiscal Code |
: |
00870210150 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
01/12/2002 |
|
Patrimonial
Consistence |
: |
Over 2.500.000 Eur |
|
|
: |
100.000.000/150.000.000 Eur |
|
Number of
Employees |
: |
from 750 to 1000 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
759.000 - Eur |
|
Creditworthiness
|
|
Good |
|
|
|
Under the
financial aspect a certain balance is reported which leads |
|
|
|
to a credit with a
very limited risk. |
ACTIVITY
Transformation of paper and cardboard; manufacturing of paper,
card-board.
Production of albums, exercise-books etc.
LEGAL DATA
Legal Form : Joint stock company
|
Fiscal Code :
00870210150 |
|
Foreign Trade Reg.
no. : MI078374 since 30/12/1991 |
|
Foreign Trade Reg.
no. : 78374 of Milano since 30/12/1991 |
|
Foreign Trade Reg.
no. : 078374 of Milano since 30/12/1991 |
|
Chamber of
Commerce no. : 1856 of Milano since 12/05/1911 |
|
Chamber of
Commerce no. : 124878 of |
|
Chamber of
Commerce no. : 113777 of |
|
Firms' Register :
MI146-102539 since 19/02/1996 |
|
V.A.T. Code :
00870210150 |
|
Foundation Date |
: 01/01/1909 |
|
|
Establishment Date |
: 08/07/1961 |
|
|
Start of
Activities |
: 01/12/2002 |
|
|
Legal Duration
Date |
: 31/12/2051 |
|
|
Nominal Capital |
: 10.449.000 |
Eur |
|
Subscribed Capital |
: 10.449.000 |
Eur |
|
Paid up Capital |
: 10.449.000 |
Eur |
MEMBERS
|
Reconta Ernst E
Young S.p.a. |
|
|
- Fiscal Code :
00434000584 |
|
Via |
Romagnosi
Giandomenico |
, 18A |
- 00196 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditing company |
09/07/2007 |
|
|
|
Ponzellini |
Franco |
|
Born in Casciago |
(VA) |
on 22/03/1946 |
- Fiscal Code :
PNZFNC46C22B949K |
|
Residence : |
Via |
Nirone |
, 19 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2008 |
|
|
No Protests registered.
|
Goglio |
Franco |
|
Born in Milano |
(MI) |
on 05/01/1933 |
- Fiscal Code :
GGLFNC33A05F205V |
|
Residence : |
Via |
Canova Antonio |
, 25 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
14/07/2008 |
|
|
|
Director |
10/07/2008 |
|
|
|
Board Chairman |
10/07/2008 |
|
|
No Protests registered.
|
Giovannini |
Marco |
|
Born in Roma |
(RM) |
on 16/04/1956 |
- Fiscal Code :
GVNMRC56D16H501K |
|
Residence : |
Via |
Rana - Zona
Industriale Vi |
, 10/A |
- 15100 |
|
( |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2008 |
|
|
No Protests registered.
|
Vigano' |
Tullio |
|
Born in Milano |
(MI) |
on 30/04/1938 |
- Fiscal Code :
VGNTLL38D30F205P |
|
Residence : |
|
, 5961 |
|
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
14/07/2008 |
|
|
|
Director |
10/07/2008 |
|
|
|
Assistant board
Chairman |
14/07/2008 |
|
|
No Protests registered.
|
Goglio |
Fabrizio |
|
Born in Milano |
(MI) |
on 06/03/1964 |
- Fiscal Code :
GGLFRZ64C06F205V |
|
Residence : |
Via |
Canova |
, 25 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
14/07/2008 |
|
|
|
Director |
10/07/2008 |
|
|
|
Assistant board
Chairman |
14/07/2008 |
|
|
No Protests registered.
|
Valente |
Piergiorgio |
|
Born in |
(TO) |
on 05/02/1963 |
- Fiscal Code :
VLNPGR63B05L219B |
|
Residence : |
Via |
Crocefisso |
, 5 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2008 |
|
|
No Protests registered.
|
De Marchi |
Sergio |
|
Born in
Pramaggiore |
(VE) |
on 09/08/1956 |
- Fiscal Code :
DMRSRG56M09G981W |
|
Residence : |
Via |
Verdi |
, 13/B |
- 21020 |
Casciago |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with
special power |
22/01/2003 |
|
|
No Protests registered.
|
Ferrari |
Giovanni |
|
Born in |
(MS) |
on 24/06/1956 |
- Fiscal Code :
FRRGNN56H24B832W |
|
Residence : |
Via |
Marco D'oggiono |
, 7 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2008 |
|
|
No Protests registered.
|
Cestaro |
Massimo |
|
Born in Solbiate
Olona |
(VA) |
on 24/09/1976 |
- Fiscal Code :
CSTMSM76P24I794X |
|
Residence : |
Via |
Solari Andrea |
- 20144 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
24/09/2008 |
|
|
No Protests registered.
|
Martinoni |
Franco |
|
Born in Castano
Primo |
(MI) |
on 15/06/1956 |
- Fiscal Code :
MRTFNC56H15C052J |
|
Residence : |
Via |
Busca |
, 15 |
- 21100 |
|
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with
special power |
10/02/2003 |
|
|
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.
|
GOGLIO |
FRANCO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
COFIBOX S.R.L. |
Cadorago (CO) - IT
- |
01883570135 |
Managing Director |
Dismiss |
Ceased |
|
COFIBOX S.R.L. |
Cadorago (CO) - IT
- |
01883570135 |
Board Chairman |
Dismiss |
Ceased |
|
GO-FIN S.P.A. |
Daverio (VA) - IT
- |
00377760129 |
Managing Director |
Active |
Registered |
|
GO-FIN S.P.A. |
Daverio (VA) - IT
- |
00377760129 |
Board Chairman |
Active |
Registered |
|
GOGLIO COFIBOX
S.P.A. |
Cadorago (CO) - IT
- |
03323400964 |
Director |
Dismiss |
Registered |
|
GOGLIO COFIBOX
S.P.A. |
Cadorago (CO) - IT
- |
03323400964 |
Managing Director |
Active |
Registered |
|
GOGLIO COFIBOX
S.P.A. |
Cadorago (CO) - IT
- |
03323400964 |
Board Chairman |
Active |
Registered |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
Director |
Active |
Registered |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
Board Chairman |
Active |
Registered |
|
LANDI FINANZIARIA
SPA |
Milano (MI) - IT - |
03135890154 |
Managing Director |
Active |
Registered |
|
LANDI FINANZIARIA
SPA |
Milano (MI) - IT - |
03135890154 |
Director |
Active |
Registered |
|
LANDI FINANZIARIA
SPA |
Milano (MI) - IT - |
03135890154 |
Board Chairman |
Active |
Registered |
|
P.L.V. -
PRODUZIONI LITOGRAFICHE VARIE S.R.L. O BREVEMENTE P.L.V. S.R.L. |
Daverio (VA) - IT
- |
02982100121 |
Director |
Active |
Registered |
|
TERPACK - S.R.L. |
Daverio (VA) - IT
- |
00342180122 |
Chairman |
Dismiss |
Ceased |
|
TERPACK - S.R.L. |
Daverio (VA) - IT
- |
00342180122 |
Managing Director |
Dismiss |
Ceased |
|
TER-PACK S.P.A. |
Milano (MI) - IT - |
00746380153 |
Director |
Active |
Registered |
|
TER-PACK S.P.A. |
Milano (MI) - IT - |
00746380153 |
Board Chairman |
Active |
Registered |
|
VIGANO' |
TULLIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
Director |
Active |
Registered |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
Assistant board
Chairman |
Active |
Registered |
|
GOGLIO |
FABRIZIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
COFIBOX S.R.L. |
Cadorago (CO) - IT
- |
01883570135 |
Assistant board
Chairman |
Dismiss |
Ceased |
|
GO-FIN S.P.A. |
Daverio (VA) - IT
- |
00377760129 |
Managing Director |
Active |
Registered |
|
GO-FIN S.P.A. |
Daverio (VA) - IT
- |
00377760129 |
Assistant board
Chairman |
Active |
Registered |
|
GOGLIO COFIBOX
S.P.A. |
Cadorago (CO) - IT
- |
03323400964 |
Assistant board
Chairman |
Dismiss |
Registered |
|
GOGLIO |
|
|
Director |
Dismiss |
Registered |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
Director |
Active |
Registered |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
Assistant board
Chairman |
Active |
Registered |
|
DE MARCHI |
SERGIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
A-27 S.P.A. |
Milano (MI) - IT - |
01816040131 |
Procurator |
Dismiss |
Registered |
|
GOGLIO COFIBOX S.P.A.
|
Cadorago (CO) - IT
- |
03323400964 |
Director |
Active |
Registered |
|
GOPACK PROMOTION
S.P.A. |
Milano (MI) - IT - |
13220250156 |
General Manager |
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 |
|
Go-fin S.p.a. |
Daverio - IT - |
00377760129 |
6.694.052 .Eur |
64,06 |
|
Goglio Franco |
Milano - IT - |
GGLFNC33A05F205V |
2.075.032 .Eur |
20,00 |
|
Goglio Fabrizio |
Milano - IT - |
GGLFRZ64C06F205V |
774 .Eur |
|
|
Imi Investimenti
S.p.a. |
|
97588980017 |
1.679.141 .Eur |
16,06 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Landi Finanziaria
Spa |
Milano - IT - |
03135890154 |
2.541.369 .Eur |
84,37 |
Active |
|
Fincarta -
Societa' Per Azioni |
Chieri - IT - |
00164310542 |
247.050 .Eur |
3,98 |
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and
operative seat |
|
in : |
|
|
|
|
|
Via |
Andrea Solari |
, 10 |
- 20100 - |
Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/48012230 |
|
- |
Branch |
(Factory ) |
since 08/09/1978 |
in : |
|
|
|
|
|
Frazione |
Villareggio |
, Sn |
- 27012 - |
Zeccone |
(PV) |
- IT - |
|
|
|
|
|
Trading Style:
COGLIO LUIGI MILANO SPA |
|
|
|
|
PHONE |
: 0382/9561 |
|
- |
Branch |
(Factory ) |
since 05/08/1969 |
in : |
|
|
|
|
|
Via |
Dell'industria |
, 7 |
- 21020 - |
Daverio |
(VA) |
- IT - |
|
|
|
|
|
Trading Style:
SEZIONE G.L.M. |
|
|
|
|
PHONE |
: 0332/947084 |
|
- |
Branch |
(office ) |
since 30/09/1999 |
in : |
|
|
|
|
|
Via |
Papa Giovanni
Xxiii |
, 4 |
- 21020 - |
Daverio |
(VA) |
- IT - |
|
|
|
|
|
Trading Style: GOGLIO
LUIGI MILANO SPA |
|
- |
Branch |
|
since 30/09/1999 |
in : |
|
|
|
|
|
Via |
Verdi |
, 31/32 |
- 21020 - |
Daverio |
(VA) |
- IT - |
|
|
|
|
|
Trading Style:
GOGLIO LUIGI MILANO SPA |
|
|
|
|
Employees |
: 797 |
|
|
|
|
Fittings and
Equipment |
for a value of 20.860.000 |
Eur |
|
|
|
|
Stocks |
for a value of 37.530.000 |
Eur |
Trade organization: direct or by agents.
The company sells in
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- national or
foreign important buyers |
|
- distributors |
|
- its own sales
net-work |
|
- direct orders to
foreign companies |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- national or
foreign important buyers |
|
- importers |
|
- its own sales
net-work |
|
- its own agents |
|
- direct orders
from foreign companies |
Import comes generally from the following nations:
|
- |
|
- Francia |
|
- |
|
- Belgio |
|
- Olanda |
|
- Gran Bretagna |
HISTORICAL INFORMATION AND/OR FIRM'S STATUS
|
Changes to the legal form |
|
Former legal form |
New legal form |
Changement Date |
|
De facto company |
General
partnership |
07/06/1956 |
|
General
partnership |
Joint stock
company |
08/07/1961 |
|
Ex-Members / Ex-Positions |
|
Pavese |
Giovanni |
|
Born in |
on 13/06/1943 |
- Fiscal Code :
PVSGNN43H13A182V |
|
Residence : |
Viale |
Le Coni Zugna |
, 34 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Goglio |
Franco |
|
Born in Milano |
on 05/01/1933 |
- Fiscal Code :
GGLFNC33A05F205V |
|
Residence : |
Via |
Canova Antonio |
, 25 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
|
Attorney General |
|
Villa |
Emilio |
|
Born in Milano |
on 25/12/1938 |
- Fiscal Code :
VLLMLE38T25F205I |
|
Residence : |
Via |
Dall'ongaro Francesco
|
, 35 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Assistant board
Chairman |
|
Oggioni |
Giorgio |
|
Born in MILANO |
on 23/01/1934 |
- Fiscal Code :
GGNGRG34A23F205B |
|
Residence : |
Viale |
|
, 4 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Goglio |
Luigi |
|
Born in Milano |
on 30/05/1931 |
- Fiscal Code :
GGLLGU31E30F205L |
|
Residence : |
Via |
Frua Giuseppe |
, 11 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Managing Director |
|
Director |
|
Chairman and
Managing Director |
|
Goglio |
Franco |
|
Born in Milano |
on 05/01/1933 |
- Fiscal Code :
GGLFNC33A05F205V |
|
Residence : |
Via |
Canova Antonio |
, 25 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Managing Director |
|
Director |
|
Attorney General |
|
Board Chairman |
|
Trombetta |
Dante |
|
Born in |
on 13/04/1925 |
- Fiscal Code :
TRMDNT25D13L682Z |
|
Residence : |
Via |
|
, 19 |
- 21100 |
|
(VA) |
- IT - |
|
Position |
|
Managing Director |
|
Director |
|
Assistant board
Chairman |
|
Reggiori |
Marco |
|
Born in |
on 12/03/1961 |
- Fiscal Code :
RGGMRC61C12L682N |
|
Residence : |
Via |
Ferravilla |
, 19 |
- 21100 |
|
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Temporary Auditor |
|
Goglio |
Ambrogio
Rolando |
|
Born in Milano |
on 17/04/1964 |
- Fiscal Code :
GGLMRG64D17F205O |
|
Residence : |
Via |
Solari Andrea |
, 10 |
- 20144 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Director |
|
Goglio |
Fabrizio |
|
Born in Milano |
on 06/03/1964 |
- Fiscal Code :
GGLFRZ64C06F205V |
|
Residence : |
Via |
Canova |
, 25 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
|
Board Chairman |
|
Messeri |
Cesare |
|
Born in Milano |
on 17/01/1938 |
- Fiscal Code :
MSSCSR38A17F205G |
|
Residence : |
Via |
Caicoli |
, 5 |
- 21100 |
|
(VA) |
- IT - |
|
Position |
|
Attorney General |
|
Procurator |
|
Tovaglieri |
Ugo |
|
Born in |
on 24/02/1942 |
- Fiscal Code :
TVGGUO42B24B300N |
|
Residence : |
Via |
Gaspare Spontini |
, 5 |
- 21052 |
|
(VA) |
- IT - |
|
Position |
|
Attorney General |
|
Procurator |
|
Trombetta |
Giorgio |
|
Born in |
on 28/05/1955 |
- Fiscal Code :
TRMGRG55E28L682A |
|
Residence : |
Via |
BLIGNY |
, 5 |
- 21100 |
|
(VA) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Azarian |
Piero |
|
Born in Milano |
on 30/07/1933 |
- Fiscal Code :
ZRNPRI33L30F205C |
|
Residence : |
Via |
Matteotti |
, 40/74 |
- 20020 |
Arese |
(MI) |
- IT - |
|
Position |
|
Director |
|
De Laurentis |
Massimo |
|
Born in |
on 13/10/1956 |
- Fiscal Code : DLRMSM56R13C632S |
|
Residence : |
Via |
Cairoli |
, 13 |
- 27029 |
|
(PV) |
- IT - |
|
Position |
|
Director |
|
Former seats |
|
- |
Branch |
(Store ) |
since 06/12/1982 |
until 31/07/1988 |
|
|
|
|
|
Via |
Carego' |
- 21020 |
- Crosio della
Valle |
(VA) |
- IT - |
PAYMENTS ANALYSIS
The average term of debts to suplliers is normal 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.
|
Immovable Type |
Value |
|
Real estates |
10.475.272 .Eur |
NB.: For Capital Companies the value of the Immovables is the one reported
in the last available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Company's starting of activities dates back to 2002.
A loss is registered as to the operating result (-1,27%).
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,6) and decreasing as against 2006.
Financial debts as well as debts to suppliers are rather high but lined
up with the field's average.
It shows a not very good liquidity level.
FINANCIAL DATA
|
Complete
balance-sheet for the year as at |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
145.065.610 |
filed balance
sheet |
|
Profit (Loss) for
the period |
516.879 |
filed balance
sheet |
|
Complete
balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
142.028.026 |
filed balance
sheet |
|
Profit (Loss) for
the period |
2.118.219 |
filed balance
sheet |
|
Complete
balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
142.768.588 |
filed balance
sheet |
|
Profit (Loss) for
the period |
1.278.997 |
filed balance
sheet |
|
Complete
balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
141.504.940 |
filed balance
sheet |
|
Profit (Loss) for
the period |
4.261.571 |
filed balance
sheet |
|
Complete
balance-sheet for the year as at |
31/12/2003 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
138.414.436 |
filed balance
sheet |
|
Profit (Loss) for
the period |
4.630.656 |
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
) |
|
|
92.554.415 |
91.098.523 |
|
. Intangible
assets |
|
|
3.777.082 |
4.652.194 |
|
. Tangible fixed
assets |
|
|
33.120.136 |
35.042.697 |
|
. . Land and
buildings |
|
|
10.475.272 |
10.624.064 |
|
. . Plants,
Equipm.and Machinery |
|
|
20.855.596 |
22.427.837 |
|
. Long-term
Investments |
|
|
55.657.197 |
51.403.632 |
|
. . Financial
loans |
|
|
55.657.197 |
51.403.632 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
106.934.820 |
105.057.753 |
|
. Stock |
|
|
37.532.790 |
35.966.206 |
|
. Credits |
|
|
68.447.194 |
69.001.790 |
|
. . Credits to
clients |
|
|
39.107.034 |
62.471.568 |
|
. . Other credits |
|
|
29.340.160 |
6.530.222 |
|
. Short-term financial
assets |
|
|
|
|
|
. Liquid assets |
|
|
954.836 |
89.757 |
|
ACCRUED
INCOME-DEFERR. ASSETS |
|
|
508.020 |
172.809 |
|
TOTAL ASSETS |
|
|
199.997.255 |
196.329.085 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
42.152.721 |
41.838.342 |
|
. Company's
capital |
|
|
10.449.000 |
10.449.000 |
|
. Reserves |
|
|
31.186.842 |
28.449.269 |
|
. Reserves
company's own shares |
|
|
|
|
|
. Retained profits
(losses) |
|
|
|
821.854 |
|
. Profit (loss) |
|
|
516.879 |
2.118.219 |
|
PROVISION FOR
RISKS AND LOSSES |
|
|
775.729 |
1.280.644 |
|
SEVERANCE
INDEMNITY FUND |
|
|
14.515.245 |
14.619.328 |
|
DEBTS |
|
|
140.268.720 |
137.913.820 |
|
. Financial M/L
terms |
|
|
29.229.154 |
26.631.969 |
|
. . Financial M/L term
banks |
|
|
27.129.879 |
23.933.810 |
|
. . Financial M/L
bonds |
|
|
|
|
|
. . Other
financial M/L debts |
|
|
2.099.275 |
2.698.159 |
|
. Financial
short-term debts |
|
|
60.384.896 |
62.691.752 |
|
. . Financial
short-term banks |
|
|
54.349.012 |
56.546.843 |
|
. . Financial
short-term bonds |
|
|
|
|
|
. . Other
financial short-term debts |
|
|
6.035.884 |
6.144.909 |
|
. M/L term debts
to suppliers |
|
|
209.160 |
|
|
. Short-term debts
to suppliers |
|
|
40.427.104 |
39.321.766 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry
short-term debts |
|
|
10.018.406 |
9.268.333 |
|
ACCRUED EXPENSE |
|
|
2.284.840 |
676.951 |
|
TOTAL
LIABILITIES |
|
|
199.997.255 |
196.329.085 |
PROFIT AND LOSS ACCOUNTS
|
|
|
|
|
|
|
OUTPUT VALUE |
|
|
153.383.908 |
151.145.936 |
|
. Revenues from
sales/services |
|
|
145.065.610 |
142.028.026 |
|
. Change of stock
(products) |
|
|
143.592 |
2.544.968 |
|
OPERATING EXPENSES |
|
|
155.929.726 |
154.932.199 |
|
. Purchasing
expenses |
|
|
80.079.476 |
77.951.150 |
|
. Change of stock
(raw material) |
|
|
-1.464.354 |
-1.003.851 |
|
. Expenses from
services |
|
|
27.883.920 |
28.271.106 |
|
. Expenses from
leasing |
|
|
2.090.987 |
2.353.293 |
|
. General
expenses/sundry charges |
|
|
1.095.559 |
1.020.761 |
|
. Staff expenses |
|
|
37.762.924 |
37.189.295 |
|
.
Depreciation/Devaluation costs |
|
|
8.481.214 |
9.150.445 |
|
FINANCIAL REVENUES
(CHARGES) |
|
|
4.333.953 |
2.423.103 |
|
. Financial
charges |
|
|
-4.808.425 |
-3.900.890 |
|
. Financial
revenues |
|
|
9.142.378 |
6.323.993 |
|
FINANCIAL ASSETS
CORRECTION |
|
|
|
3.900.000 |
|
EXTRAORDINARY
FINANCIAL REVENUES (CHARGES) |
|
|
282.511 |
-46.884 |
|
PROFIT (LOSS) FOR
THE PERIOD |
|
|
2.070.646 |
2.489.956 |
|
TAX |
|
|
1.553.767 |
371.737 |
|
CORRECT./ALLOCAT.
FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
516.879 |
2.118.219 |
RATIOS
|
|
Item |
O.V. |
as at 31/12/2007 |
as at 31/12/2006 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
0,93 |
0,91 |
1,32 |
|
Net Short-term
indebtedness |
Units |
- 1 |
2,60 |
2,65 |
2,82 |
|
Current ratio |
Units |
=> 1 |
0,96 |
0,94 |
1,15 |
|
Acid Test
Ratio-Liquidity Ratio |
Units' |
=> 1 |
0,62 |
0,62 |
0,93 |
|
Return on Sales |
% |
|
6,20 |
7,93 |
3,97 |
|
Average stock
waiting period |
dd |
|
93,13 |
91,15 |
35,56 |
|
Credits to clients
average term |
dd |
|
97,02 |
158,32 |
140,04 |
|
Debts to suppliers
average term |
dd |
|
132,91 |
130,35 |
150,83 |
|
Net financial
revenues/ charges incidence |
% |
|
2,98 |
1,70 |
- 1,05 |
|
Labour cost
incidence |
% |
|
26,03 |
26,18 |
15,95 |
O.V. = Optimal Value. When not present refer to the sector's.
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:
759.000 .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 802 significant companies.
The companies cash their credits on an average of 140 dd.
The average duration of suppliers debts is about 150 dd.
The sector's profitability is on an average of 3,97%.
The labour cost affects the turnover in the measure of 15,95%.
Goods are held in stock in a range of 35 dd.
The difference between the sales volume and the resources used to
realize it is about 1,19.
The employees costs represent the 16,16% 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 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.48.99 |
|
|
1 |
Rs.72.49 |
|
Euro |
1 |
Rs.68.44 |
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%)