MIRA
INFORM REPORT
|
Report Date : |
23.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CIABATTARI
CALZATURE - S.R.L. |
|
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|
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Registered Office : |
Via Pieraccini, 58 ZONE 55010 – Capannori (LU) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.10.1985 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Machine Production of Footwear, Slippers and Accessories |
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 146.700 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
ANALYSIS
Ciabattari Calzature - S.r.l.
Via Pieraccini, 58
ZONE
55010 - Capannori (LU) -IT-
SUMMARY
Fiscal Code : 01178480461
Legal Form : Limited liability company
Start of
Activities : 18/10/1985
Patrimonial
Consistence : 250.000 Eur
Turnover Range : 3.000.000/3.750.000 Eur
Number of
Employees : fom 6 to 10
CREDIT ANALYSIS
CREDIT OPINION : 146.700
- Eur
Score : Risk
normal
Creditworthness Rate : Good
Under
the financial aspect a certain balance is reported which leads
to a
credit with a very limited risk.
ACTIVITY
Machine production of footwear, slippers and accessories.
Footwear production.
LEGAL DATA
Legal Form :
Limited liability company
Fiscal Code :
01178480461
Foreign Trade Reg. no. :
LU011156 since 27/02/1992
Chamber of Commerce no. :
123078 of Lucca since 18/11/1985
Firms' Register :
LU017-14351 since 19/02/1996
V.A.T. Code :
01178480461
Establishment Date : 18/10/1985
Start of
Activities : 18/10/1985
Legal Duration
Date : 31/12/2030
Nominal Capital : 20.800 Eur
Subscribed Capital : 20.800 Eur
Paid up Capital : 20.800 Eur
MEMBERS
|
Ciabattari |
Giovanni Mario |
|
Born in Capannori |
(LU) |
on 07/10/1954 |
- Fiscal Code : CBTGNN54R07B648K |
|
Residence : |
Localita' |
Campo Sportivo |
, 2 |
- 55011 |
Altopascio |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
02/11/1999 |
|
|
No Protests registered.
|
Del Nista |
Adriana |
|
Born in Bientina |
(PI) |
on 30/08/1952 |
- Fiscal Code : DLNDRN52M70A864H |
|
Residence : |
Localita' |
Campo Sportivo |
, 2 |
- 55011 |
Altopascio |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
02/11/1999 |
|
|
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.
|
CIABATTARI |
GIOVANNI MARIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
CIABATTARI E D'OLIVO |
Capannori (LU) - IT - |
00243250461 |
Partner |
- |
Ceased |
|
CIABATTARI GIOVANNI MARIO |
Lucca (LU) - IT - |
CBTGNN54R07B648K |
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 |
|
Ciabattari Giovanni Mario |
Altopascio - IT - |
CBTGNN54R07B648K |
14.560 .Eur |
70,00 |
|
Del Nista Adriana |
Altopascio - IT - |
DLNDRN52M70A864H |
6.240 .Eur |
30,00 |
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 |
(Workshop ) |
in : |
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|
|
|
|
Via |
Pieraccini |
, 58 Loc. Zone |
- 55012 - |
Capannori |
(LU) |
- IT - |
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PHONE |
: 0583/933221 |
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FAX |
: 0583/429496 |
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Employees |
: 6 |
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|
|
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Fittings and Equipment |
for a value of
30.987 |
Eur |
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|
|
|
Stocks |
for a value of
30.000 |
Eur |
The firm has a direct commercial organization
Sales are on a local scale.
The company supplies wholesalers and retailers.
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|
Export represents up to 20% of the global turnover.
Products abroad are placed by :
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- its own agents |
Export is mainly towards:
|
- Austria |
|
- Irlanda |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Former seats |
|
- |
Branch |
(Factory ) |
until 29/07/1997 |
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|
|
|
|
Via |
Comunale Del Cerro |
- 55012 |
- Capannori |
(LU) |
- IT - |
PAYMENTS ANALYSIS
The average term of debts to suppliers is shorter than the sector
one.
PAYMENTS SCORE : ZZZZZ - No insolvency
CREDIT REVOLVING
The subject of inquiry has been monitored by our company:
During the last Month : n. 1 times.
During the last 6 Months : n. 1 times.
During the last 12 Months : n. 2 times.
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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BANCA MONTE DEI PASCHI DI SIENA |
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|
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|
1030 |
0 |
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
None reported in the name of the Firm.
FINANCIAL AND ECONOMICAL ANALYSIS
Company's starting of activities dates back to 1985.
During the last years, it recorded positive net results (r.o.e. 6,23% in
2006) with a good increase in turnover (+7,37% in 2006 compared to 2005 and
+8,53% in 2005 compared to 2004).
The return on Investment in the last financial year was positive (9,31%)
falling within the field's average.
Company's financial status is balanced since indebtedness is not high
(2,28) even though on the increase if compared to 2005.
The recourse to suppliers' credit is limited and even lower than
sector's average.
Liquidity is not positive.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
3.298.345 |
filed balance sheet |
|
Profit (Loss) for the period |
13.655 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
3.071.920 |
filed balance sheet |
|
Profit (Loss) for the period |
64.382 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
2.830.282 |
filed balance sheet |
|
Profit (Loss) for the period |
31.642 |
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 ) |
|
|
410.758 |
220.153 |
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. Intangible assets |
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. Tangible fixed assets |
|
|
410.758 |
220.153 |
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. . Land and buildings |
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. . Plants, Equipm.and Machinery |
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. Long-term Investments |
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. . Financial loans |
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. . Own shares |
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CURRENT ASSETS |
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627.171 |
490.108 |
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. Stock |
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|
30.234 |
26.967 |
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. Credits |
|
|
421.518 |
373.292 |
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. . Credits to clients |
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|
421.518 |
338.325 |
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. . Other credits |
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|
34.967 |
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. Short-term financial assets |
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. Liquid assets |
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|
175.419 |
89.849 |
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ACCRUED INCOME-DEFERR. ASSETS |
|
|
75.276 |
95.768 |
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TOTAL ASSETS |
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|
1.113.205 |
806.029 |
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. |
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LIABILITIES |
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NET WORTH |
|
|
219.028 |
205.372 |
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. Company's capital |
|
|
20.800 |
20.800 |
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. Reserves |
|
|
184.573 |
120.190 |
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. Reserves company's own shares |
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|
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. Retained profits (losses) |
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. Profit (loss) |
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|
13.655 |
64.382 |
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PROVISION CHARGES ACCOUNTS |
|
|
121.081 |
121.081 |
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STAFF TERM INDEMNITY |
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|
21.320 |
15.265 |
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DEBTS |
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|
675.917 |
402.136 |
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. Financial M/L terms |
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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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. Financial short-term debts |
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|
43.391 |
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. . Financial short-term banks |
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|
43.391 |
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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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|
249.740 |
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. Sundry M/L debts |
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. Sundry short-term debts |
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|
109.005 |
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ACCRUED COSTS DEFERR. LIABILITIES |
|
|
75.859 |
62.175 |
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TOTAL LIABILITIES |
|
|
1.113.205 |
806.029 |
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. |
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PROFIT AND LOSS
ACCOUNTS |
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|
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OUTPUT VALUE |
|
|
3.323.282 |
3.082.837 |
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. Revenues from sales/services |
|
|
3.298.345 |
3.071.920 |
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. Change of stock (products) |
|
|
5.393 |
6.572 |
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OPERATING EXPENSES |
|
|
3.219.592 |
2.936.504 |
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. Purchasing expenses |
|
|
2.085.554 |
1.807.889 |
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. Change of stock (raw material) |
|
|
2.126 |
3.944 |
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. Expenses from services |
|
|
914.053 |
930.266 |
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. Expenses from leasing |
|
|
58.117 |
48.382 |
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. General expenses/sundry charges |
|
|
29.169 |
31.265 |
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. Staff expenses |
|
|
104.559 |
74.937 |
|
. Depreciation/Devaluation costs |
|
|
26.014 |
39.821 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-46.635 |
-38.651 |
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. Financial charges |
|
|
-46.635 |
-38.861 |
|
. Financial revenues |
|
|
|
210 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
|
8.613 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
57.055 |
116.295 |
|
TAX |
|
|
43.400 |
51.913 |
|
CORRECT./ALLOCAT. FISCAL RULE |
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|
|
|
|
NET PROFIT (LOSS) |
|
|
13.655 |
64.382 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
0,58 |
1,00 |
1,98 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,28 |
1,52 |
3,33 |
|
Current ratio |
Units |
=> 1 |
l |
0,92 |
1,21 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,88 |
1,15 |
0,83 |
|
Return on Sales |
% |
|
l |
1,20 |
3,39 |
2,47 |
|
Average stock waiting period |
dd |
|
l |
3,27 |
3,13 |
55,38 |
|
Credits to clients average term |
dd |
|
l |
45,97 |
39,63 |
100,74 |
|
Debts to suppliers average term |
dd |
|
l |
40,00 |
32,25 |
132,80 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,41 |
- 1,25 |
- 0,98 |
|
Labour cost incidence |
% |
|
l |
3,17 |
2,43 |
16,44 |
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:
146.700 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
379.117 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
SECTOR DATA
The values are calculated on a base of 975 significant companies.
The companies cash their credits on an average of 100 dd.
The average duration of suppliers debts is about 132 dd.
The sector's profitability is on an average of 2,47%.
The labour cost affects the turnover in the measure of 16,44%.
Goods are held in stock in a range of 55 dd.
The difference between the sales volume and the resources used to
realize it is about 1,39.
The employees costs represent the 16,33% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.537.
The insolvency index for the region is 0,70, while for the province it
is 0,67.
Total Bankrupt companies in the province : 2.402.
Total Bankrupt companies in the region : 20.423.
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%)