MIRA
INFORM REPORT
|
Report Date : |
16.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TECNOPOLIMERI S.P.A. |
|
|
|
|
Registered Office : |
Via Solferino, 6/8/10/ 20038 – Seregno (MB) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
26.09.1977 |
|
|
|
|
Com. Reg. No.: |
MI149-24209 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale Trade of Chemical Products, Animal and Vegetal Derived Industrial
Oils, Raw Rubber. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
Eur 759.000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Tecnopolimeri S.p.a.
Via Solferino, 6/8/10/
20038 - Seregno (MB) -IT-
SUMMARY
|
Fiscal Code |
: |
00636860124 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
26/09/1977 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
50.000.000/75.000.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
759.000 - Eur |
|
Score |
: |
5. Risk low |
|
Creditworthness Rate |
: |
Excellent |
|
|
|
Financial/patrimonial analysis very good - Credit with very low risk |
ACTIVITY
Wholesale trade of chemical products, animal and vegetal derived ind
ustrial oils, raw rubber.
Wholesale of building materials.
Wholesale of rubber products.
Wholesale of plastic products.
LEGAL DATA
Legal Form
: Joint stock company
|
Fiscal Code
: 00636860124 |
|
Foreign Trade Reg. no. :
MB018203 since 05/02/1992 |
|
Foreign Trade Reg. no. : 123345
of Milano since 05/02/1992 |
|
Chamber of Commerce no. : 1128850 of Monza e Brianza since 20/07/2007 |
|
Firms' Register
: MI149-24209 since 19/02/1996 |
|
V.A.T. Code
: 00678290966 |
|
Court : 24209 of Monza |
|
Foundation Date |
: 26/09/1977 |
|
|
Establishment Date |
: 26/09/1977 |
|
|
Start of Activities |
: 26/09/1977 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.000.000 |
Eur |
|
Subscribed Capital |
: 2.000.000 |
Eur |
|
Paid up Capital |
: 2.000.000 |
Eur |
MEMBERS
|
Torti |
Luigi |
|
Born in Molino dei Torti |
(AL) |
on 10/12/1931 |
- Fiscal Code : TRTLGU31T10F293L |
|
Residence : |
Via |
Boito |
, 12 |
- 20052 |
Monza |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2007 |
|
|
|
Managing Director |
30/04/2007 |
|
|
|
Board Chairman |
30/04/2007 |
|
|
No Protests registered.
|
Torti |
Donatella |
|
Born in Ferrara |
(FE) |
on 02/05/1960 |
- Fiscal Code : TRTDTL60E42D548P |
|
Residence : |
Via |
Cattaneo |
, 23 |
- 20011 |
Corbetta |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2007 |
|
|
|
Managing Director |
30/04/2007 |
|
|
No Protests registered.
|
Torti |
Cristina |
|
Born in Tortona |
(AL) |
on 23/06/1965 |
- Fiscal Code : TRTCST65H63L304Z |
|
Residence : |
Via |
Talamoni |
, 12 |
- 20052 |
Monza |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2007 |
|
|
|
Managing Director |
30/04/2007 |
|
|
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.
|
TORTI |
LUIGI |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
FAS TECH ENGINEERING SRL |
Seregno (MB) - IT - |
06058100964 |
Sole Director |
Active |
Registered |
|
FAS TECH:TECHNOLOGY, VALUE, SOLUTIONS S.R.L. |
Seregno (MB) - IT - |
04118720962 |
Sole Director |
Active |
Registered |
|
TECNOFINANZIARIA S.A.S. DI LUIGI TORTI EC. |
Seregno (MB) - IT - |
07237300152 |
Liquidator |
Dismiss |
Ceased |
|
TORTI |
DONATELLA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
B E B S.R.L. |
Giussano (MB) - IT - |
03560460960 |
Sole Director |
Active |
Registered |
|
TORTI |
CRISTINA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ALTEA SRL |
Monza (MB) - IT - |
08233650152 |
Sole Director |
Active |
Registered |
|
ASFIN S.A.S. DI TORTI CRISTINA E C. |
Monza (MB) - IT - |
08924050159 |
General Partner |
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 |
|
Torti Donatella |
Corbetta - IT - |
TRTDTL60E42D548P |
800.000 .Eur |
40,00 |
|
Torti Cristina |
Monza - IT - |
TRTCST65H63L304Z |
800.000 .Eur |
40,00 |
|
Torti Luca |
Cornale - IT - |
TRTLCU79M29G388G |
400.000 .Eur |
20,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Fas Tech:technology, Value, Solutions S.r.l. |
Seregno - IT - |
04118720962 |
15.000 .Eur |
30,00 |
Active |
|
Rossitalkauchuk S.R.L. |
Seregno - IT - |
07212120153 |
20.245 .Eur |
98,00 |
Ceased |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 26/09/1977 |
in : |
|
|
|
|
|
Via |
Solferino |
, 6/8/10/ |
- 20038 - |
Seregno |
(MB) |
- IT - |
|
|
|
|
PHONE |
: 0362/224101 |
|
|
|
|
Website |
: www.tecnopolimeri.com |
|
|
|
|
Employees |
: 10 |
|
|
|
|
Fittings and Equipment |
for a value of
21.000 |
Eur |
|
|
|
|
Stocks |
for a value of
9.120.000 |
Eur |
|
|
|
|
for a value of
100.000 |
Eur |
|
|
|
|
for a value of
10.000 |
Eur |
Sales are on an international scale.
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
Import comes generally from the following nations:
|
- Austria |
|
- Cipro |
Export is mainly towards:
|
- Austria |
|
- Islanda |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Ex-Members /
Ex-Positions |
|
Torti |
Luigi |
|
Born in Molino dei Torti |
on 10/12/1931 |
- Fiscal Code : TRTLGU31T10F293L |
|
Residence : |
Via |
Boito |
, 12 |
- 20052 |
Monza |
(MI) |
- IT - |
|
Position |
|
Sole Director |
|
Sole Director |
|
Torti |
Luca |
|
Born in Pavia |
on 29/08/1979 |
- Fiscal Code : TRTLCU79M29G388G |
|
Residence : |
Via |
Cavour |
, 30 |
- 27050 |
Cornale |
(PV) |
- IT - |
|
Position |
|
Director |
|
Managing Director |
Former seats
|
- |
Branch |
(Warehouse ) |
since 08/07/1983 |
|
|
|
|
|
Via |
Ticino |
- 20034 |
- Giussano |
(MB) |
- IT - |
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.
NEGATIVITIES
In the name of the firm the following events are registered:
|
Type |
Subject |
Expiry Date |
Amount |
Reason |
Result |
Closure Date |
|
informative note before conntentious |
|
25/03/1993 |
0. |
|
|
|
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 |
884.480 .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 1977
During the last years, it achieved profits (r.o.e. 16,69% on 2007)
thanks to a progressive increase in turnover (+16,96% in 2007 compared to 2006
and +13,2% in 2006 compared to 2005).
The return on Investment in the last financial year was positive (8,03%)
falling within the field's average.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,74) and decreasing as against 2006.
Bank borrowings' volume is slightly high but it modestly dips into suppliers
credit, 11,55 gg. is the payments' average time below field's average.
Payments are supported by good current assets.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
60.483.285 |
filed balance sheet |
|
Profit (Loss) for the period |
667.031 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
51.709.794 |
filed balance sheet |
|
Profit (Loss) for the period |
625.548 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
45.678.555 |
filed balance sheet |
|
Profit (Loss) for the period |
379.763 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
25.355.065 |
filed balance sheet |
|
Profit (Loss) for the period |
308.401 |
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 31/12/2007 - Months 12 - Currency Eur - Amounts x 1 |
|
Balance Sheet as
at 31/12/2006 - Months 12 - Currency Eur - Amounts x 1 |
|
Years |
|
|
2007 |
2006 |
|
|
BALANCE SHEET
ACCOUNTS |
|
|
|
|
. |
|
|
|
|
|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
1.153.572 |
298.889 |
|
. Intangible assets |
|
|
52.013 |
76.067 |
|
. Tangible fixed assets |
|
|
959.235 |
80.361 |
|
. . Land and buildings |
|
|
884.480 |
|
|
. . Plants, Equipm.and Machinery |
|
|
20.834 |
23.057 |
|
. Long-term Investments |
|
|
142.324 |
142.461 |
|
. . Financial loans |
|
|
142.324 |
142.461 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
22.790.480 |
21.873.298 |
|
. Stock |
|
|
9.118.123 |
6.746.988 |
|
. Credits |
|
|
9.301.730 |
13.415.433 |
|
. . Credits to clients |
|
|
9.092.346 |
13.397.529 |
|
. . Other credits |
|
|
209.384 |
17.904 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
4.370.627 |
1.710.877 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
132.920 |
116.306 |
|
TOTAL ASSETS |
|
|
24.076.972 |
22.288.493 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
3.995.578 |
3.328.549 |
|
. Company's capital |
|
|
2.000.000 |
2.000.000 |
|
. Reserves |
|
|
38.556 |
7.281 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
1.289.991 |
695.720 |
|
. Profit (loss) |
|
|
667.031 |
625.548 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
122.666 |
154.276 |
|
DEBTS |
|
|
19.852.508 |
18.719.100 |
|
. Financial M/L terms |
|
|
4.503.875 |
2.331.997 |
|
. . Financial M/L term banks |
|
|
4.503.875 |
2.331.997 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
13.333.939 |
10.896.764 |
|
. . Financial short-term banks |
|
|
13.333.939 |
10.896.764 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
1.937.292 |
5.230.625 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
77.402 |
259.714 |
|
ACCRUED EXPENSE |
|
|
106.220 |
86.568 |
|
TOTAL LIABILITIES |
|
|
24.076.972 |
22.288.493 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
60.504.920 |
51.721.750 |
|
. Revenues from sales/services |
|
|
60.483.285 |
51.709.794 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
58.569.973 |
50.014.455 |
|
. Purchasing expenses |
|
|
53.381.594 |
42.508.411 |
|
. Change of stock (raw material) |
|
|
-2.371.135 |
-273.356 |
|
. Expenses from services |
|
|
6.692.265 |
6.920.325 |
|
. Expenses from leasing |
|
|
211.876 |
203.234 |
|
. General expenses/sundry charges |
|
|
189.142 |
182.591 |
|
. Staff expenses |
|
|
402.671 |
416.535 |
|
. Depreciation/Devaluation costs |
|
|
63.560 |
56.715 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-582.678 |
-503.052 |
|
. Financial charges |
|
|
-749.960 |
-513.898 |
|
. Financial revenues |
|
|
167.282 |
10.846 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-156.869 |
-56.633 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
1.195.400 |
1.147.610 |
|
TAX |
|
|
528.369 |
522.062 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
667.031 |
625.548 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2007 |
as at 31/12/2006 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
7,47 |
19,45 |
2,16 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,74 |
4,40 |
4,74 |
|
Current ratio |
Units |
=> 1 |
l |
1,48 |
1,33 |
1,14 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,89 |
0,92 |
0,92 |
|
Return on Sales |
% |
|
l |
1,20 |
1,31 |
1,69 |
|
Average stock waiting period |
dd |
|
l |
54,25 |
46,94 |
37,56 |
|
Credits to clients average term |
dd |
|
l |
54,10 |
93,24 |
111,16 |
|
Debts to suppliers average term |
dd |
|
l |
11,55 |
37,90 |
111,43 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,96 |
- 0,97 |
- 0,85 |
|
Labour cost incidence |
% |
|
l |
0,66 |
0,80 |
4,61 |
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:
759.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
0 |
|
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 1.450 significant companies.
The companies cash their credits on an average of 111 dd.
The average duration of suppliers debts is about 111 dd.
The sector's profitability is on an average of 1,69%.
The labour cost affects the turnover in the measure of 4,61%.
Goods are held in stock in a range of 37 dd.
The difference between the sales volume and the resources used to
realize it is about 1,60.
The employees costs represent the 4,69% 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 0.
The insolvency index for the region is 0,55, while for the province it
is .
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.17 |
|
UK Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.68.48 |
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%)