MIRA
INFORM REPORT
|
Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GRIGGIO SPA |
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Registered Office : |
Via Ca’Brion, 18/A, Reschigliano 35011, Campodarsego (PD) |
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Country : |
Italy |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
01.04.1955 |
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Com. Reg. No.: |
00209720283 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and Installation of wood processing machines. |
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 806.200 |
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|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name and
Addres
Griggio S.p.a.
Via
Ca'
Brion, 18/A
RESCHIGLIANO
35011 -
Campodarsego (PD) -IT-
SUMMARY
Fiscal
Code : 00209720283
Legal
Form : Joint stock
company
Start
of Activities : 01/04/1955
Patrimonial
Consistence : Over
2.500.000 Eur
Turnover
Range : 25.000.000/35.000.000
Eur
Number
of Employees : from 91
to 110
CREDIT ANALYSIS
CREDIT
OPINION : 806.200 - Eur
Creditworthness
Rate : 78% (Good)
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
Manufacturing of
machine-tools for wood shaving removal: lathes, milling machines, boring
machines.
Manufacture and
installation of wood processing machines.
LEGAL DATA
Legal Form : Joint stock
company
Fiscal Code : 00209720283
Foreign Trade Reg. no : 651 of Padova since 06/12/1991
Chamber of Commerce no. : 70163 of Padova since 10/05/1955
Firms' Register : PD060-5408 since
19/02/1996
V.A.T. Code : 00209720283
Court : 5408 of Padova
Foundation
Date :
01/04/1955
Establishment
Date :
01/04/1955
Start of
Activities :
01/04/1955
Legal
Duration Date :
31/12/2020
Nominal
Capital :
1.754.400 Eur
Subscribed
Capital :
1.754.400 Eur
Paid
up Capital :
1.754.400 Eur
MEMBERS
Griggio Paolo
Born in Vigodarzere (PD)on 26/03/1945 - Fiscal Code : GRGPLA45C26L892Q
Residence : Piazzetta San Nicolo' , 12 - 35100 Padova (PD) - IT –
Position Since Shares
Amount %
Ownership
Managing
Director 28/04/2006
Director
28/04/2006
No
Protests registered.
Gallo
Vito
Born
in Padova (PD) on
17/08/1953 -
Fiscal Code : GLLVTI53M17G224R
Residence
: Via S. Leopoldo , 6 - 35020 Albignasego (PD) - IT -
Position Since Shares
Amount %
Ownership
Sole
Auditor 29/11/2007
Griggio
Giovanni
Born
in Cadoneghe (PD) on 17/03/1957 - Fiscal Code : GRGGNN57C17B345Y
Residence
: Via G. Donizetti , 8 - 35010 Cadoneghe (PD) - IT -
Position Since Shares
Amount %
Ownership
Managing
Director 28/04/2006
Director
28/04/2006
No
Protests registered.
Griggio
Ettore Ennio
Born
in Cadoneghe (PD) on 13/01/1952 - Fiscal Code : GRGTRN52A13B345G
Residence
: Via Mascagni, , 30 - 35010 Cadoneghe (PD) - IT -
Position Since Shares
Amount %
Ownership
Director
28/04/2006
Board
Chairman 28/04/2006
No
Protests registered.
Duso
Paolo
Born
in Valdobbiadene (TV) on 25/12/1944 - Fiscal Code : DSUPLA44T25L565P
Residence
: Via Briosco Andrea , 23 - 35123 Padova (PD)- IT -
Position Since Shares
Amount %
Ownership
Director
28/04/2006
No
Protests registered.
Griggio
Massimo
Born
in Cadoneghe (PD)on 19/11/1960 - Fiscal Code : GRGMSM60S19B345B
Residence
: Via Vivaldi , 10 - 35010 Cadoneghe (PD) - IT -
Position Since Shares
Amount %
Ownership
Director
28/04/2006
No
Protests registered.
Morello
Bianca Maria
Born
in Padova (PD) on
12/07/1953 -
Fiscal Code : MRLBCM53L52G224F
Residence
: Piazzetta San Nicolo' ,12 - 35100 Padova (PD)- IT -
Position Since Shares
Amount %
Ownership
Director
28/04/2006
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.
GRIGGIO
PAOLO
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
A.C.M. S.R.L. |
Novellara (RE) - IT - |
01826820282 |
Director |
Active |
Registered |
|
ACM ITALIA S.R.L. CON SIGLA ACM - |
Campodarsego (PD) - IT - |
00728720285 |
Liquidator |
- |
Ceased |
|
ASCOT SRL |
Vigonza (PD) - IT - |
01907320285 |
Director |
Active |
Registered |
|
ASCOT SRL |
Vigonza (PD) - IT - |
01907320285 |
Managing Director |
Active |
Registered |
|
C.E.P.R.A. CENTRO PROMOZIONALE ACIMALL S.P.A. PER BREVITA' DENOMINATA ANCH |
Assago (MI) - IT - |
04701000152 |
Director |
Active |
Registered |
|
C.E.P.R.A. CENTRO PROMOZIONALE ACIMALL S.P.A. PER BREVITA' DENOMINATA ANCH |
Assago (MI) - IT - |
04701000152 |
Assistant board Chairman |
Active |
Registered |
|
FINANZIARIA MECCANICA SVILUPPO S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Managing Director |
Active |
Registered |
|
FINANZIARIA MECCANICA SVILUPPO S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Director |
Active |
Registered |
|
FINANZIARIA MECCANICA SVILUPPO S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Board Chairman |
Active |
Registered |
|
W.M. - WOODWORKING MACHINERY - S.R.L. |
Campodarsego (PD) - IT - |
00838560282 |
Board Chairman |
- |
Ceased |
|
W.M. WOODWORKING MACHINERY SRL IN SIGLA W.M. SRL |
Padova (PD) - IT - |
04092610288 |
Managing Director |
Active |
Registered |
|
W.M. WOODWORKING MACHINERY SRL IN SIGLA W.M. SRL |
Padova (PD) - IT - |
04092610288 |
Director |
Active |
Registered |
GRIGGIO
GIOVANNI
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
FINANZIARIA MECCANICA
SVILUPPO S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Managing Director |
Active |
Registered |
|
FINANZIARIA MECCANICA SVILUPPO
S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Director |
Active |
Registered |
|
FOREMA - SOCIETA' CONSORTILE
A RESPONSABILITA' LIMITATA- IN SIGLAFOREMA S.C.A.R. |
Padova (PD) - IT - |
02422020285 |
Director |
Active |
Registered |
|
FOREMA - SOCIETA' CONSORTILE
A RESPONSABILITA' LIMITATA- IN SIGLAFOREMA S.C.A.R. |
Padova (PD) - IT - |
02422020285 |
Board of Directors' chairman
|
Dismiss |
Registered |
|
FOREMA - SOCIETA' CONSORTILE
A RESPONSABILITA' LIMITATA- IN SIGLAFOREMA S.C.A.R. |
Padova (PD) - IT - |
02422020285 |
Board Chairman |
Active |
Registered |
GRIGGIO
ETTORE ENNIO
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
A.C.M. S.R.L. |
Novellara (RE) - IT - |
01826820282 |
Director |
Active |
Registered |
|
FINANZIARIA MECCANICA SVILUPPO
S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Director |
Active |
Registered |
|
FINANZIARIA MECCANICA
SVILUPPO S.P.A. CON SIGLA *FIMES S.P.A. |
Campodarsego (PD) - IT - |
01825510280 |
Managing Director |
Active |
Registered |
|
W.M. - WOODWORKING MACHINERY
- S.R.L. |
Campodarsego (PD) - IT - |
00838560282 |
Director |
- |
Ceased |
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 |
|
Finanziaria Meccanica
Sviluppo S.p.a. Con Sigla *fimes S.p.a. |
Campodarsego - IT - |
01825510280 |
1.753.873 .Eur |
99,97 |
|
GRIGGIO PAOLO |
Padova - IT - |
GRGPLA45C26L892Q |
263 .Eur |
0,01 |
|
Griggio Giovanni |
Cadoneghe - IT - |
GRGGNN57C17B345Y |
87 .Eur |
|
|
Griggio Ettore Ennio |
Cadoneghe - IT - |
GRGTRN52A13B345G |
87 .Eur |
|
|
Griggio Massimo |
Cadoneghe - IT - |
GRGMSM60S19B345B |
87 .Eur |
|
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Forema - Societa' Consortile
A Responsabilita' Limitata- In Siglaforema S.c.a.r. |
Padova - IT - |
02422020285 |
714 .Eur |
7,14 |
Active |
STRUCTURE AND COMPANY
ACTIVITY
In order to carry
out its activities the firm uses the following locations:
Legal
and operative seat since 01/01/1955 in :
Via Ca' Brion , 18/A Loc. Reschigliano - 35011 - Campodarsego (PD)- IT –
PHONE
:
049/9200920
FAX
:
049/9201433
-
Forwarding office in :
Casella
Postale 57 -
35011 - Campodarsego (PD)- IT -
Employees
:
101
Fittings
and Equipment for a value of 778.000 Eur
Stocks
for a value of 4.980.500 Eur
The firm operates
abroad as exporter. .
Export represents
more than 50% of the global turnover.
Products abroad are
placed by :
- Importers
- Direct orders from
foreign companies
- Its own sales net-work
Export is mainly
towards:
- Austria
- Belgio
- Francia
- Germania
- Gran Bretagna
- Grecia
- Irlanda
- Islanda
- Polonia
- Ungheria
- Bulgaria
- Somalia
- Congo Est
- Isole Maldive
- El Salvador
- Rep.di Guinea
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 10/05/1963
General
partnership Joint
stock company 19/11/1982
Ex-Members / Ex-Positions
Griggio
Paolo
Born
in Vigodarzere on 26/03/1945 - Fiscal Code : GRGPLA45C26L892Q
Residence
: Piazzetta
San Nicolo' , 12 - 35100 Padova (PD) - IT -
Position
Chairman
Board Chairman
Griggio
Ettore
Born
in Cadoneghe on 13/01/1952 - Fiscal Code : GRGTTR52A13B345Q
Position
Director
GRIGGIO
PAOLO
Born
in VIGODARZERE on 26/03/1945 - Fiscal Code : GRGPLA45C26L892Q
Residence
: Piazzetta
SAN NICOLO' , 12 - 35100 Padova (PD)- IT -
Position
Managing Director
Director
Griggio
Giovanni
Born
in Cadoneghe on 17/03/1957 - Fiscal Code : GRGGNN57C17B345Y
Residence
: Via
G. Donizetti , 8 - 35010 Cadoneghe (PD)- IT -
Position
Board Chairman
Forcella
Ciro
Born
in Padova on 21/07/1944 - Fiscal Code : FRCCRI44L21G224Q
Residence
: Via
San Tomaso ,
6 -
35141 Padova
(PD) - IT
-
Position
Director
The firm absorved
W.m. - Woodworking
Machinery - S.r.l.
Via
Botte , 22/1 , 35011 , Campodarsego (PD) - IT -
Fiscal Code: 00838560282
Date
: 22/09/2003
The firm absorbed by
merging of
W.m. - Woodworking
Machinery - S.r.l.
Via
Botte , 22/1 , 35011 , Campodarsego (PD) - IT -
Fiscal Code: 00838560282
Date
: 22/09/2003
Project of merging by
taking over of
W.m. - Woodworking
Machinery - S.r.l.
Via
Botte ,
22/1 ,
35011 , Campodarsego (PD) - IT -
Fiscal Code: 00838560282
Date
Merging/Splitting-up Project : 24/05/2003
PAYMENTS ANALYSIS
The average term of
debts to suplliers is normal compared with that
of the sector.
PAYMENTS SCORE :
ZZZZZ - 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 1.170.016
.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 1955
Unstable economic
results mark the company's financial state of affairs. with a profit (r.o.e.
3,08%) in the last financial year Upward trend as to the turnover in the last
financial year (+14,13%).
The operating
result was positive in the last financial year (4,68%) and reflects the field's
average.
The analysis shows
a fair financial position as the indebtedness volume is acceptable (1,25) yet
on the increase as against the previous accounting period.
The financial
exposure is moderate, on the other hand the recourse to commercial credit is
high, with a high average payment period even if it still falls within the
sector's average.
Neverthless
available funds are good.
FINANCIAL DATA
Complete balance-sheet for the year as at 31/12/2006 (in Eur x 1 )
Item
Type Amount Source
Sales
25.798.487 filed
balance sheet
Profit
(Loss) for the period 166.057 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2005 (in Eur x 1 )
Item
Type Amount Source
Sales
22.604.375 filed
balance sheet
Profit
(Loss) for the period 135.227 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
Item
Type Amount Source
Sales
21.757.320 filed
balance sheet
Profit
(Loss) for the period -140.268 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 ) |
|
|
2.208.730 |
2.558.954 |
|
. Intangible assets |
|
|
103.896 |
114.397 |
|
. Tangible fixed assets |
|
|
2.104.134 |
2.443.857 |
|
. . Land and buildings |
|
|
1.170.016 |
1.193.208 |
|
. . Plants, Equipm.and Machinery |
|
|
777.916 |
1.099.762 |
|
. Long-term Investments |
|
|
700 |
700 |
|
. . Financial loans |
|
|
700 |
700 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
15.086.193 |
13.543.124 |
|
. Stock |
|
|
4.980.562 |
3.515.568 |
|
. Credits |
|
|
9.357.926 |
8.380.368 |
|
. . Credits to clients |
|
|
9.018.319 |
7.937.366 |
|
. . Other credits |
|
|
339.607 |
443.002 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
747.705 |
1.647.188 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
85.039 |
66.631 |
|
TOTAL ASSETS |
|
|
17.379.962 |
16.168.709 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
5.381.469 |
5.215.411 |
|
. Company's capital |
|
|
1.754.400 |
1.754.400 |
|
. Reserves |
|
|
3.461.012 |
3.325.784 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
166.057 |
135.227 |
|
PROVISION CHARGES ACCOUNTS |
|
|
84.298 |
58.397 |
|
STAFF TERM INDEMNITY |
|
|
1.002.280 |
981.590 |
|
DEBTS |
|
|
10.890.703 |
9.910.827 |
|
. 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 |
|
|
3.408.547 |
3.379.753 |
|
. Short-term debts to suppliers |
|
|
6.528.234 |
5.752.784 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
953.922 |
778.290 |
|
ACCRUED COSTS DEFERR. LIABILITIES |
|
|
21.212 |
2.484 |
|
TOTAL LIABILITIES |
|
|
17.379.962 |
16.168.709 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
|
OUTPUT VALUE |
|
|
27.370.291 |
23.057.929 |
|
. Revenues from sales/services |
|
|
25.798.487 |
22.604.375 |
|
. Change of stock (products) |
|
|
1.207.051 |
111.886 |
|
OPERATING EXPENSES |
|
|
26.556.687 |
22.319.444 |
|
. Purchasing expenses |
|
|
18.618.024 |
14.618.409 |
|
. Change of stock (raw material) |
|
|
-278.868 |
-22.187 |
|
. Expenses from services |
|
|
3.686.767 |
3.306.970 |
|
. Expenses from leasing |
|
|
|
|
|
. General expenses/sundry charges |
|
|
58.394 |
188.074 |
|
. Staff expenses |
|
|
3.817.383 |
3.592.921 |
|
. Depreciation/Devaluation costs |
|
|
654.987 |
635.257 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-159.114 |
-148.970 |
|
. Financial charges |
|
|
-187.098 |
-165.843 |
|
. Financial revenues |
|
|
27.984 |
16.873 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-40.102 |
|
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
614.388 |
589.515 |
|
TAX |
|
|
448.331 |
454.288 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
166.057 |
135.227 |
RATIOS Item O.V. O.V. as at 31/12/2006 as at 31/12/2005 Sector
Average
Fixed
assets ratio Units => 1 l 4,43 3,74 1,79
Net
Short-term indebtedness Units - 1 l 1,25 0,93 2,65
Current
ratio Units => 1 l 2,01 2,07 1,30
Acid
Test Ratio-Liquidity Ratio Units => 1 l 1,35 1,53 0,91
Return
on Sales % l 3,18 3,40 4,16
Average
stock waiting period dd l 69,48 55,98 64,04
Credits
to clients average term dd l 125,82 126,39 130,89
Debts
to suppliers average term dd l 160,34 183,38 160,56
Net
financial revenues/ charges incidence % l -
0,61 - 0,65 - 0,96
Labour
cost incidence % l 14,79 15,89 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 DETERMINATION
The credit opinion
determination is divided into two phases :
1) Risk analysis
(Score).
2) Reliability
score identification.
RISK ANALYSIS (SCORE)
On the base of
precise indicators as "Activity sector", "Area",
"Firm's foundation", "Payment analysis","Profitability",
we analysed the companies included in the same activity sector of subject
company, classifying them by their own risk score.
Classification of companies in the same sector by risk score :
Score Risk
level %
Firms
1 very
high 1%
2 high 1%
3 slightly
high 6%
4 normal 17%
5 low 75%
The
company under review falls within the range of normal risk.
RELIABILITY SCORE
Considering also
subject's structural and behavioural characteristics its credit margin rate
(from 0 to 100%) is equal to 78%, in respect of a sector average of 57%.
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:
806.200 .Eur.
REMARKS
1) Protests
checking (relative to the last five years) performed by crossing and matching
the members names and the Firm's Style with the reported addresses, is supplied
by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal
code is not indicated, the eventual homonymous cases are submitted to expert
staff evaluation in order to limit wrong matching risks.
2) The Legal Data,
supplied and retrived from the Firm's Registry of the Italian Chamber of
Commerce, are in line with the last registered modifications.
SOURCES
- Our historical
data
- Public
Administration
- Reporters
- Newspapers
- Users
- Statistics Bodies
- Financial Project
Editions
N.B.:
Data from the Public Administration present in the report are updated since the
last available edition.
MARKET / TERRITORY
DATA
Population
living in the province : 882.779
Population
living in the region : 4.699.950
Number
of families in the region : 1.813.210
Monthly family
expences average in the region (in Eur.) :
-
per food products : 456
-
per non food products :
2.052
-
per energy consume : 127
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 moderately risky.
In the region
13.782 protested subjects are found; in the province they count to 2.646.
The insolvency
index for the region is 0,30, while for the province it is 0,30.
Total Bankrupt
companies in the province : 3.821.
Total Bankrupt
companies in the region : 16.714.
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%)