MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEW GEM S P A |
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Registered Office : |
Via Filippo Turati, 41 20082, Binasco (MI) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.02.2003 |
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Com. Reg. No.: |
01440770061 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of watches, clocks, jewellery, metals, gems, pearls and
corals. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name and
Address
New Gem S.p.a.
Via
Filippo Turati, 41
20082 - Binasco (MI) -IT-
SUMMARY
Fiscal
Code : 01440770061
Legal
Form : Joint
stock company
Start
of Activities : 18/02/2003
Patrimonial
Consistence : 1.500.000
Eur
Turnover
Range : 5.000.000/6.500.000
Eur
Number
of Employees : from 6 to
10
CREDIT ANALYSIS
Score : Risk
normal
Creditworthness
Rate : Sufficient
Financial
situation is not at its best, but credit is possible with
no
particular risks.
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
Wholesale of
watches, clocks and jewellery.
Wholesale of
precious metals, gems, pearls and corals.
LEGAL DATA
Legal Form : Joint stock
company
Fiscal Code : 01440770061
Chamber of Commerce no. : 161983 of Alessandria since 22/05/1990
Chamber of Commerce no. : 1708426 of Milano since 11/03/2003
Firms' Register : AL003-12974 since
19/02/1996
Firms' Register : MI-2003-63380 since
19/02/1996
Firms' Register : MI-2003-63380 since
11/03/2003
V.A.T. Code : 01440770061
Establishment
Date :
05/02/1990
Start
of Activities :
18/02/2003
Legal
Duration Date :
31/12/2050
Nominal
Capital : 500.000 Eur
Subscribed
Capital : 500.000 Eur
Paid
up Capital : 500.000 Eur
MEMBERS
Wogerbauer
Johann
Born
in Milano (MI)on 21/09/1961 - Fiscal Code : WGRJNN61P21F205S
Residence
: Viale Campania , 31 - 20133 Milano (MI)- IT -
Position Since Shares
Amount %
Ownership
Sole
Director 22/04/2005
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.
WOGERBAUER
JOHANN
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
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VALGEM S.A.S. DI AVRAHAM SHAUL E C. |
Valenza (AL) - IT - |
01258400066 |
Limited Partner |
- |
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 |
|
Wogerbauer Johann |
Milano - IT - |
WGRJNN61P21F205S |
222.500 .Eur |
44,50 |
|
Ankur Diamonmds Nv |
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127.500 .Eur |
25,50 |
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Ankur Diamonmds Nv |
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22.500 .Eur |
4,50 |
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DELPINO SIMONE ALESSANDRO |
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DLPSNL83S27F205Q |
62.500 .Eur |
12,50 |
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BUSATTI LUIGI |
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BSTLGU44M11L258U |
2.500 .Eur |
0,50 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
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Fin.or.val. - Societa' Finanziaria ImmobIliare Per Il Centro
Commerciale Ora |
Valenza - IT - |
00925330060 |
8.372 .Eur |
0,28 |
Active |
|
I PREZIOSI DEL DELFINO SOCIETA' A RESPONSABILITA' LIMITATA |
Roma - IT - |
06200771001 |
2.040 .Eur |
20,00 |
Active |
STRUCTURE AND COMPANY
ACTIVITY
In order to carry
out its activities the firm uses the following locations:
-
Legal and operative seat in :
Via
Filippo Turati , 41 - 20082 - Binasco (MI)- IT -
PHONE :
0131/945885
-
Branch (Branch )since 18/02/2003 in :
Piazza
Gramsci , 12G - 15048 - Valenza (AL) - IT -
Employees
:
6
Assistants
:
1
Fittings
and Equipment for a value of 23.240 Eur
Stocks
for a value of 1.989.000 Eur
The firm has a
direct commercial organization
The firm operates
abroad as importer. .
To purchase foreign
products the firm uses the following channels:
- direct orders to
foreign companies
Export represents
up to 20% of the global turnover.
Import comes
generally from the following nations:
- Francia
PAYMENTS ANALYSIS
The average term of
debts to suppliers is higher than the sector one.
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 90.896
.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 has
been active for some years.
Under an economic
point of view, profits were registered during the last years with a r.o.e. of
2,27% in 2006 but without a significant increase in the turnover.
The operating
result was positive in the last financial year (3,47%) and reflects the field's
average.
The financial
status of the company is fairly balanced with an indebtedness level of 1,54
even though on the increase if compared to 2005.
The recourse to
suppliers' credit is substantial with long payments average period and higher
than the sector.
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
5.036.946 filed
balance sheet
Profit
(Loss) for the period 28.829 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2005 (in Eur x 1 )
Item
Type Amount Source
Sales
4.786.236 filed
balance sheet
Profit
(Loss) for the period 15.086 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
Item
Type Amount Source
Sales
4.224.647 filed
balance sheet
Profit
(Loss) for the period 79.943 filed
balance sheet
Complete balance-sheet for the year as at 31/12/2003 (in Eur x 1 )
Item
Type Amount Source
Sales
4.011.303 filed
balance sheet
Profit
(Loss) for the period 571.272 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
BALANCE SHEET ACCOUNTS
Years 2006 2005
ASSETS
CREDITS TO SHAREHOLDERS
FIXED ASSETS ( NET ) 196.476 142.918
. Intangible assets
. Tangible fixed assets 176.724 106.770
. . Land and buildings
. . Plants, Equipm.and Machinery
. Long-term Investments 19.752 36.148
. . Financial loans 19.752 36.148
. . Own shares
CURRENT ASSETS 4.278.409 3.464.610
. Stock 1.989.101 1.295.217
. Credits 1.926.231 1.946.037
. . Credits to clients 1.926.231 1.799.082
. . Other credits 146.955
. Short-term financial assets
. Liquid assets 363.077 223.356
ACCRUED INCOME-DEFERR. ASSETS 2.452 13.991
TOTAL ASSETS 4.477.337 3.621.519
LIABILITIES
NET WORTH 1.268.449 1.239.620
. Company's capital 500.000 500.000
. Reserves 202.222 187.136
. Reserves company's own shares
. Retained profits (losses) 537.398 537.398
. Profit (loss) 28.829 15.086
PROVISION CHARGES ACCOUNTS 10.599
STAFF TERM INDEMNITY 78.324 76.067
DEBTS 3.119.965 2.305.832
. Financial M/L terms 431.936
. . Financial M/L term banks 431.936
. . Financial M/L bonds
. . Other financial M/L debts
. Financial short-term debts 1.090.875
. . Financial short-term banks 1.090.875
. . Financial short-term bonds
. . Other financial short-term debts
. M/L term debts to suppliers
. Short-term debts to suppliers 571.639
. Sundry M/L debts
. Sundry short-term debts 211.382
ACCRUED COSTS DEFERR. LIABILITIES
TOTAL LIABILITIES 4.477.337 3.621.519
.
PROFIT AND LOSS
ACCOUNTS
OUTPUT VALUE 5.040.042 4.786.242
. Revenues from sales/services 5.036.946 4.786.236
. Change of stock (products)
OPERATING EXPENSES 4.884.631 4.552.985
. Purchasing expenses 5.019.071 4.901.094
. Change of stock (raw material) -693.884 -946.682
. Expenses from services 284.440 263.669
. Expenses from leasing 8.855 28.942
. General expenses/sundry charges 20.595 24.632
. Staff expenses 210.889 223.585
. Depreciation/Devaluation costs 34.665 57.745
FINANCIAL REVENUES (CHARGES) -43.105 -146.253
. Financial charges -63.860 -146.307
. Financial revenues 20.755 54
FINANCIAL ASSETS CORRECTION
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) -1
PROFIT (LOSS) FOR THE PERIOD 112.306 87.003
TAX 83.477 71.917
CORRECT./ALLOCAT. FISCAL RULE
NET PROFIT (LOSS) 28.829 15.086
RATIOS
Item O.V. O.V. as at
31/12/2006 as at
31/12/2005 Sector
Average
Fixed assets ratio Units => 1 l 10,92 12,22 2,80
Net Short-term indebtedness Units - 1 l 1,54 1,33 4,37
Current ratio Units => 1 l 1,84 1,84 1,19
Acid Test Ratio-Liquidity Ratio Units => 1 l 0,98 1,15 0,88
Return on Sales % l 1,26 1,52 1,94
Average stock waiting period dd l 142,16 97,41 56,98
Credits to clients average term dd l 137,66 135,28 126,32
Debts to suppliers average term dd l 180,00 39,60 140,21
Net financial revenues/ charges incidence % l - 0,85 - 3,05 - 0,88
Labour cost incidence % l 4,18 4,67 7,84
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 4%
2 high 1%
3 slightly
high 9%
4 normal 25%
5 low 61%
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 56%, in respect of a sector average of 40%.
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 : 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 1.938 significant companies.
The companies cash
their credits on an average of 126 dd.
The average
duration of suppliers debts is about 140 dd.
The sector's
profitability is on an average of 1,94%.
The labour cost
affects the turnover in the measure of 7,84%.
Goods are held in
stock in a range of 56 dd.
The difference
between the sales volume and the resources used to realize it is about 1,41.
The employees costs
represent the 7,97% 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.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)