MIRA
INFORM REPORT
|
Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CAPELLARO E C. S.P.A. |
|
|
|
|
Registered Office : |
Viale Papiniano, 22 20123- Milano (MI) |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
13.01.1967 |
|
|
|
|
Com. Reg. No.: |
MI146-131338 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of Watches,
Clocks and Jewellery |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
assessment: |
|
|
|
Solid financial structure that permits credit
with low risk. |
|
detail assessment:
|
payments: |
|
|
The average term of debts to suppliers is shorter than the sector. |
name
& address
Capellaro E C. S.p.a.
Viale Papiniano, 22
20123
- Milano (MI) -IT-
Tel.:
00390/2/866014
SUMMARY
|
Fiscal Code |
: |
00721730158 |
|
Legal Form |
: |
Joint stock company |
|
Establishment Date |
: |
13/01/1967 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur
|
|
Number of Employees |
: |
from 16 to 25 |
ACTIVITY
Wholesale of watches,
clocks and jewellery.
Wholesale of raw precious
metals.
Retail of jewellery,gold
and silverware.
LEGAL
DATA
Legal Form : Joint stock
company
|
Fiscal Code : 00721730158 |
|
Foreign Trade Reg.
no. : MI027074 since 11/12/1991 |
|
Foreign Trade Reg.
no. : 6757 of Milano |
|
Foreign Trade Reg.
no. : 027074 of Milano since
11/12/1991 |
|
Foreign Trade Reg.
no. : 0006757 of Milano |
|
Chamber of Commerce
no. : 101474 of Alessandria |
|
Chamber of Commerce
no. : 724194 of Milano since
18/01/1967 |
|
Chamber of Commerce
no. : 149735 of Vicenza |
|
Firms' Register
: MI146-131338 since 19/02/1996 |
|
V.A.T. Code : 00721730158 |
Establishment Date : 13/01/1967
Legal Duration Date
: 31/12/2050
Nominal Capital :
1.000.000 Eur
Subscribed Capital :
1.000.000 Eur
Paid up Capital : 1.000.000 Eur
MEMBERS
|
Galante |
Alberto |
|
Born in Libano |
on 30/08/1952 |
- Fiscal Code : GLNLRT52M30Z229S |
|
Residence : |
Via |
Garian |
, 20 |
- 20146 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
30/04/2006 |
|
|
|
Director |
30/04/2006 |
|
|
|
Board Chairman |
30/04/2006 |
|
|
No Protests registered.
|
Rascaroli |
Valter |
|
Born in Robbio |
(PV) |
on 06/02/1952 |
- Fiscal Code : RSCVTR52B06H369Y |
|
Residence : |
Via |
Gorizia |
, 1 |
- 27038 |
Robbio |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special
power |
13/05/2003 |
|
|
No Protests registered.
|
Martinetti |
Paolo Lorenzo |
|
Born in Montemagno |
(AT) |
on 25/07/1948 |
- Fiscal Code : MRTPLR48L25F556D |
|
Residence : |
Viale |
Del Vivaio |
, 4 |
- 15048 |
Valenza |
(AL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special
power |
13/05/2003 |
|
|
No Protests registered.
|
Beissah De Namdar |
Maria |
|
Born in Beirut |
on 20/01/1956 |
- Fiscal Code : BSSMRA56A60Z229A |
|
Residence : |
Via |
Domenichino |
, 50 |
- 20149 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/12/2006 |
|
|
No Protests registered.
|
Namdar |
Elisheba |
|
Born in Karachi |
on 04/07/1954 |
- Fiscal Code : NMDLHB54L44Z236U |
|
Residence : |
Via |
Garian |
, 20 |
- 20146 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
30/04/2006 |
|
|
|
Director |
30/04/2006 |
|
|
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.
|
GALANTE |
ALBERTO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
GALTEX DI CLEMENT GALANTE E C. S.N.C. |
Milano (MI) - IT - |
03361840154 |
Partner of unlimit.
partnership |
- |
Ceased |
|
NAMDAR |
ELISHEBA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
SUPERKASH DI NAMDAR ELISHEBA |
Milano (MI) - IT - |
NMDLHB54L44Z236U |
Proprietor |
- |
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 |
|
Mercin Corp |
|
97409800154 |
500.000 .Eur |
50,00 |
|
OR E COMPANY LIMITED |
|
97408390157 |
500.000 .Eur |
50,00 |
DIRECT
PARTICIPATIONS
The Company under review
has no participations in other Companies.
STRUCTURE
AND COMPANY ACTIVITY
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Viale |
Papiniano |
, 22 |
- 20123 - |
Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/866014 |
|
- |
Branch |
(Forwarding office ) |
in : |
|
|
|
|
|
Via |
Del Mercato Nuovo |
, 77 |
- 36100 - |
Vicenza |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0444/324882 |
|
- |
Branch |
(Administrative office ) |
since 19/12/2005 |
in : |
|
|
|
|
|
Via |
Circonvallazione Ovest |
- 15048 - |
Valenza |
(AL) |
- IT - |
|
|
|
|
Employees |
: 19 |
|
|
|
|
Fittings and Equipment |
for a value of 336.000 |
Eur |
|
|
|
|
Stocks |
for a value of 10.385.000 |
Eur |
The firm has a direct
commercial organization
The company sells in Italy
and abroad.
|
|
The firm operates abroad as
importer / exporter. .
To purchase foreign products
the firm uses the following channels :
|
- its own agents |
Export represents up to 20%
of the global turnover.
Import comes generally from
the following nations:
|
- Austria |
|
- France |
HISTORICAL
INFORMATION AND/OR FIRM'S STATUS
|
Changes to the legal form |
|
Former legal form |
New legal form |
Changement Date |
|
Other forms |
Joint stock company |
28/01/1972 |
|
Ex-Members / Ex-Positions |
|
Roberto |
Francesco |
|
Born in Montemagno |
on 11/04/1929 |
- Fiscal Code : RBRFNC29D11F556A |
|
Residence : |
Via |
Giambellino |
, 39 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Attorney General |
|
Managing Director |
|
Board Chairman |
|
Ciancia |
Carlet Pietro |
|
Born in Caprile |
on 05/05/1928 |
|
Position |
|
Managing Director |
|
Assistant board Chairman |
|
Rascaroli |
Fausto |
|
Born in Luzzara |
on 09/03/1932 |
- Fiscal Code : RSCFST32C09E772F |
|
Residence : |
Via |
Compagnoni Giuseppe |
, 1 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Assistant board Chairman |
|
Managing Director |
|
Rascaroli |
Valter |
|
Born in Robbio |
on 06/02/1952 |
- Fiscal Code : RSCVTR52B06H369Y |
|
Residence : |
Via |
Gorizia |
, 1 |
- 27038 |
Robbio |
(PV) |
- IT - |
|
Position |
|
Managing Director |
|
Martinetti |
Paolo Lorenzo |
|
Born in Montemagno |
on 25/07/1948 |
- Fiscal Code : MRTPLR48L25F556D |
|
Residence : |
Viale |
Del Vivaio |
, 4 |
- 15048 |
Valenza |
(AL) |
- IT - |
|
Position |
|
Managing Director |
|
LIVIAN |
JACKY ISRAEL |
|
Born in MILANO |
on 12/02/1974 |
- Fiscal Code : LVNJKY74B12F205A |
|
Residence : |
Viale |
SAN GIMIGNANO |
, 30 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
|
Director |
|
Former seats |
|
- |
Branch |
|
since 01/01/2006 |
|
|
|
|
|
Via |
Paolo Da Cannobio |
- 20100 |
- Milano |
(MI) |
- IT - |
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 |
1.318.014 .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
1967
In the economic management
, good and bad results followed on by turns. ; in the last financial year a
loss was registered (r.o.e. -1,21%) The turnover is growing in the last
financial year (+7,13%).
The operating result was
positive in the last financial year (1,16%) and in line with the sector's
average.
The company has an
excellent net worth if compared to its debts, with a low indebtedness (0,7)
improved in comparison with the year before (0,87.).
Financial debts exposure is
under control while the recourse to commercial credit is rather frequent even
if it is lower than the sector's average.
The 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 |
22.903.707 |
filed balance sheet |
|
Profit (Loss) for the
period |
-170.275 |
filed balance sheet |
|
Complete balance-sheet
for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
21.378.745 |
filed balance sheet |
|
Profit (Loss) for the
period |
219.501 |
filed balance sheet |
|
Complete balance-sheet
for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
18.310.138 |
filed balance sheet |
|
Profit (Loss) for the
period |
513.392 |
filed balance sheet |
|
Complete balance-sheet for
the year as at |
31/12/2003 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
21.842.624 |
filed balance sheet |
|
Profit (Loss) for the
period |
318.219 |
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 ) |
|
|
1.677.537 |
1.720.817 |
|
. Intangible assets |
|
|
22.495 |
30.169 |
|
. Tangible fixed assets |
|
|
1.654.090 |
1.689.373 |
|
. . Land and buildings |
|
|
1.318.014 |
1.330.440 |
|
. . Plants, Equipm.and
Machinery |
|
|
336.076 |
358.933 |
|
. Long-term Investments |
|
|
952 |
1.275 |
|
. . Financial loans |
|
|
952 |
1.275 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
22.503.552 |
25.180.009 |
|
. Stock |
|
|
10.385.213 |
11.271.079 |
|
. Credits |
|
|
12.027.346 |
13.764.851 |
|
. . Credits to clients |
|
|
11.957.625 |
13.280.928 |
|
. . Other credits |
|
|
69.721 |
483.923 |
|
. Short-term financial
assets |
|
|
|
|
|
. Liquid assets |
|
|
90.993 |
144.079 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
142.595 |
129.280 |
|
TOTAL ASSETS |
|
|
24.323.684 |
27.030.106 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
13.972.634 |
14.142.909 |
|
. Company's capital |
|
|
1.000.000 |
1.000.000 |
|
. Reserves |
|
|
13.142.909 |
12.923.408 |
|
. Reserves company's own
shares |
|
|
|
|
|
. Retained profits
(losses) |
|
|
|
|
|
. Profit (loss) |
|
|
-170.275 |
219.501 |
|
PROVISION FOR RISKS AND
LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
448.047 |
394.934 |
|
DEBTS |
|
|
9.873.399 |
12.462.717 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L
debts |
|
|
|
|
|
. Financial short-term
debts |
|
|
3.486.231 |
2.270.000 |
|
. . Financial short-term
banks |
|
|
3.486.231 |
2.270.000 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial
short-term debts |
|
|
|
|
|
. M/L term debts to
suppliers |
|
|
|
|
|
. Short-term debts to
suppliers |
|
|
6.376.021 |
10.172.259 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
11.147 |
20.458 |
|
ACCRUED EXPENSE |
|
|
29.604 |
29.546 |
|
TOTAL LIABILITIES |
|
|
24.323.684 |
27.030.106 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
22.913.322 |
21.407.890 |
|
. Revenues from
sales/services |
|
|
22.903.707 |
21.378.745 |
|
. Change of stock
(products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
22.629.454 |
20.662.298 |
|
. Purchasing expenses |
|
|
17.882.470 |
18.306.872 |
|
. Change of stock (raw
material) |
|
|
885.866 |
-614.509 |
|
. Expenses from services |
|
|
1.638.135 |
1.402.738 |
|
. Expenses from leasing |
|
|
101.283 |
44.465 |
|
. General expenses/sundry
charges |
|
|
478.532 |
238.875 |
|
. Staff expenses |
|
|
1.081.733 |
1.019.467 |
|
.
Depreciation/Devaluation costs |
|
|
561.435 |
264.390 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-217.813 |
-275.217 |
|
. Financial charges |
|
|
-223.295 |
-280.459 |
|
. Financial revenues |
|
|
5.482 |
5.242 |
|
FINANCIAL ASSETS
CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES
(CHARGES) |
|
|
-530 |
|
|
PROFIT (LOSS) FOR THE
PERIOD |
|
|
65.525 |
470.375 |
|
TAX |
|
|
235.800 |
250.874 |
|
CORRECT./ALLOCAT. FISCAL
RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
-170.275 |
219.501 |
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%)