MIRA
INFORM REPORT
|
Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SATI TRADING S.R.I. |
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Registered Office : |
Via Bonazzi, 24 40013 -
Castel Maggiore (BO) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
20.04.1989 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of farming machinery and equipment, tractors included. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
105.400 - Eur |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
ANALYSIS
Sati trading S.r.l.
Via Bonazzi, 24
40013 - Castel Maggiore (BO) -IT-
SUMMARY
Fiscal Code : 03882680378
Legal Form : Limited liability company
Start of
Activities : 03/04/1990
Patrimonial
Consistence : 1.000.000 Eur
Turnover Range : 15.500.000/18.000.000 Eur
Number of
Employees : from 11 to 15
CREDIT ANALYSIS
CREDIT OPINION : 105.400
- Eur
Score : Risk medium
Creditworthness
Rate : (Modest)
The
financial situation is not very balanced-Credit is possible but
following
the future developments.
ACTIVITY
Wholesale of farming machinery and equipment, tractors included.
Wholesale of rubber products.
LEGAL DATA
Legal Form :
Limited Liability Company
Fiscal Code :
03882680378
Foreign Trade Reg. no. :
BO030784 since 21/02/1994
Chamber of Commerce no. :
322062 of Bologna since 25/05/1989
Firms' Register :
BO006-51942 since 19/02/1996
R. E. C. no. :
60439 of Bologna since 03/04/1990
Foundation Date : 20/04/1989
Establishment Date : 20/04/1989
Start of
Activities :
03/04/1990
Legal Duration
Date : 31/12/2020
Nominal Capital : 364.000 Eur
Subscribed Capital : 364.000 Eur
Paid up Capital : 364.000 Eur
MEMBERS
Tonelli Gianni
Born in Bologna
(BO) on 24/02/1934 - Fiscal Code : TNLGNN34B24A944W
Residence : Via P.p. Molinelli , 7 - 40100 Bologna (BO)- IT -
Position Since Shares Amount % Ownership
Sole Director 27/05/2005
No Protests registered.
Tonelli Silvia
Born in Bologna (BO)on 13/01/1963- Fiscal Code :
TNLSLV63A53A944J
Residence : Via P.p. Molinelli , 11 - 40100 Bologna
(BO)- IT -
Position Since Shares Amount % Ownership
Attorney General 27/09/2006
No Protests registered.
Tonelli Riccardo
Born in Bologna
(BO)on 06/08/1971- Fiscal Code : TNLRCR71M06A944Z
Residence : Via
P.p. Molinelli , 11 - 40100
Bologna (BO) - IT -
Position Since Shares Amount % Ownership
Attorney General 27/09/2006
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.
|
TONELLI |
GIANNI |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
A.G.*PETZETAKIS ITALIA - S.R.L. |
Castel Maggiore (BO) - IT - |
02504590379 |
Attorney with special power |
- |
Ceased |
|
SATI DI TONELLI GIANNI S.A.S. |
Castel Maggiore (BO) - IT - |
02082710373 |
General Partner |
Active |
Registered |
|
TONELLI GIANNI E C. S.R.L. |
Bologna (BO) - IT - |
03874660370 |
Liquidator |
- |
Ceased |
|
TONELLI |
SILVIA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
CORDPLAST SRL |
Bologna (BO) - IT - |
02290071204 |
Sole Director |
Active |
Registered |
|
SATI DI TONELLI GIANNI S.A.S. |
Castel Maggiore (BO) - IT - |
02082710373 |
Limited Partner |
Active |
Registered |
|
TONELLI |
RICCARDO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
SATI DI TONELLI GIANNI S.A.S. |
Castel Maggiore (BO) - IT - |
02082710373 |
Limited Partner |
Active |
Registered |
|
TONELLI RICCARDO |
Castel Maggiore (BO) - IT - |
TNLRCR71M06A944Z |
Proprietor |
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 |
|
Tonelli Gianni |
Bologna - IT - |
TNLGNN34B24A944W |
48.533 .Eur |
13,33 |
|
Tonelli Silvia |
Bologna - IT - |
TNLSLV63A53A944J |
128.208 .Eur |
35,22 |
|
Tonelli Riccardo |
Bologna - IT - |
TNLRCR71M06A944Z |
142.768 .Eur |
39,22 |
|
Tonelli Claudia |
|
TNLCLD67M46A944D |
44.488 .Eur |
12,22 |
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 |
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in : |
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Via |
Bonazzi |
, 24 |
- 40013 - |
Castel Maggiore |
(BO) |
- IT - |
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PHONE |
: 051/700321 |
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Employees |
: 14 |
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Fittings and Equipment |
for a value of
147.500 |
Eur |
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Stocks |
for a value of
3.687.000 |
Eur |
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Vehicles |
for a value of
51.645 |
Eur |
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.
BANKERS
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
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Credito Emiliano |
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Cassa Risp.Bologna |
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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 1990
During the last years, it achieved profits (r.o.e. 6,65% on 2006) and
during the last financial year an increase in sales volume was registered
(+19,01% in 2006).
The return on Investment in the last financial year was positive (9,2%)
falling within the field's average.
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 4,69 increasing as against 2005.
The company does not exceed in bank credits; payments average period is
instead slightly high (113,97 gg.) even if it still falls within 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 |
16.308.250 |
filed balance sheet |
|
Profit (Loss) for the period |
56.541 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
13.702.639 |
filed balance sheet |
|
Profit (Loss) for the period |
60.186 |
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 |
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|
2006 |
2005 |
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BALANCE SHEET
ACCOUNTS |
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. |
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ASSETS |
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CREDITS TO SHAREHOLDERS |
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FIXED ASSETS ( NET ) |
|
|
245.966 |
250.029 |
|
. Intangible assets |
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|
94.993 |
119.495 |
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. Tangible fixed assets |
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|
148.917 |
128.698 |
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. . Land and buildings |
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. . Plants, Equipm.and Machinery |
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|
147.626 |
127.407 |
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. Long-term Investments |
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|
2.056 |
1.836 |
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. . Financial loans |
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|
1.746 |
1.526 |
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. . Own shares |
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CURRENT ASSETS |
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|
6.465.378 |
8.227.185 |
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. Stock |
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|
3.687.239 |
2.961.204 |
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. Credits |
|
|
1.525.075 |
1.123.930 |
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. . Credits to clients |
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|
1.075.186 |
798.198 |
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. . Other credits |
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|
449.889 |
325.732 |
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. Short-term financial assets |
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. Liquid assets |
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|
1.253.064 |
4.142.051 |
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ACCRUED INCOME-DEFERR. ASSETS |
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|
23.897 |
22.788 |
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TOTAL ASSETS |
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|
6.735.241 |
8.500.002 |
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. |
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LIABILITIES |
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NET WORTH |
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|
849.715 |
793.170 |
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. Company's capital |
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|
364.000 |
364.000 |
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. Reserves |
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|
429.174 |
368.984 |
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. Reserves company's own shares |
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. Retained profits (losses) |
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. Profit (loss) |
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|
56.541 |
60.186 |
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PROVISION CHARGES ACCOUNTS |
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STAFF TERM INDEMNITY |
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|
69.892 |
87.592 |
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DEBTS |
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|
5.730.545 |
7.569.155 |
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. Financial M/L terms |
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|
487.664 |
675.708 |
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. . Financial M/L term banks |
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. . Financial M/L bonds |
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. . Other financial M/L debts |
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|
487.664 |
675.708 |
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. Financial short-term debts |
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|
3.344.544 |
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. . Financial short-term banks |
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|
3.344.544 |
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. . Financial short-term bonds |
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. . Other financial short-term debts |
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. M/L term debts to suppliers |
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. Short-term debts to suppliers |
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|
4.979.125 |
3.314.292 |
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. Sundry M/L debts |
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. Sundry short-term debts |
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|
263.756 |
234.611 |
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ACCRUED COSTS DEFERR. LIABILITIES |
|
|
85.089 |
50.085 |
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TOTAL LIABILITIES |
|
|
6.735.241 |
8.500.002 |
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. |
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PROFIT AND LOSS
ACCOUNTS |
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|
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OUTPUT VALUE |
|
|
16.336.299 |
13.717.672 |
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. Revenues from sales/services |
|
|
16.308.250 |
13.702.639 |
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. Change of stock (products) |
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|
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|
|
OPERATING EXPENSES |
|
|
15.716.078 |
13.239.135 |
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. Purchasing expenses |
|
|
12.473.248 |
9.651.303 |
|
. Change of stock (raw material) |
|
|
-726.035 |
57.685 |
|
. Expenses from services |
|
|
2.924.895 |
2.527.326 |
|
. Expenses from leasing |
|
|
327.652 |
287.946 |
|
. General expenses/sundry charges |
|
|
28.447 |
9.594 |
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. Staff expenses |
|
|
625.521 |
623.449 |
|
. Depreciation/Devaluation costs |
|
|
62.350 |
81.832 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-306.280 |
-190.072 |
|
. Financial charges |
|
|
-307.128 |
-192.730 |
|
. Financial revenues |
|
|
848 |
2.658 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-70.264 |
-103.939 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
243.677 |
184.526 |
|
TAX |
|
|
187.136 |
124.340 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
56.541 |
60.186 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
5,72 |
6,22 |
2,80 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
4,69 |
3,46 |
4,37 |
|
Current ratio |
Units |
=> 1 |
l |
1,23 |
1,19 |
1,19 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,52 |
0,76 |
0,88 |
|
Return on Sales |
% |
|
l |
0,72 |
1,03 |
1,94 |
|
Average stock waiting period |
dd |
|
l |
81,36 |
77,79 |
56,98 |
|
Credits to clients average term |
dd |
|
l |
23,72 |
20,95 |
126,32 |
|
Debts to suppliers average term |
dd |
|
l |
113,97 |
95,68 |
140,21 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,87 |
- 1,38 |
- 0,88 |
|
Labour cost incidence |
% |
|
l |
3,83 |
4,54 |
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
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:
105.400 .Eur.
MARKET / TERRITORY
DATA
Population living
in the province : 944.297
Population living
in the region : 4.151.369
Number of families
in the region : 1.748.359
Monthly family expences average in the region (in Eur.) :
- per food
products : 425
- per non food
products : 2.063
- per energy
consume : 143
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 18.860 protested subjects are found; in the province they
count to 3.720.
The insolvency index for the region is 0,46, while for the province it
is 0,40.
Total Bankrupt companies in the province : 4.335.
Total Bankrupt companies in the region : 14.698.
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%)