MIRA
INFORM REPORT
|
Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MATEX S.R.L. |
|
|
|
|
Registered Office : |
Via Enrico Mattei, 1/3 36040 - Brendola (VI) |
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|
|
|
Country : |
Italy |
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|
|
|
Financials (as on) : |
31.12.2006 |
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|
|
|
Date of Incorporation : |
20.04.1973 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturing and Installation of Textile Machines and their
Accessories. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
EUR 114.100 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
name & address
Matex S.r.l.
Via Enrico Mattei, 1/3
36040 - Brendola (VI) -IT-
SUMMARY
|
Fiscal Code |
: |
00280260241 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
01/01/2001 |
|
Patrimonial Consistence |
: |
1.000.000 Eur |
|
Turnover Range |
: |
3.750.000/5.000.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
114.100 - Eur |
|
Score |
: |
Risk normal |
|
Creditworthness Rate |
: |
Sufficient |
|
|
|
Under the financial aspect a certain balance is reported which leads |
|
|
|
to a credit with a very limited risk. |
ACTIVITY
Manufacturing and installation of textile machines and their
accessories.
Manufacturing of sanitary equipment and laundry and ironing machines.
LEGAL DATA
Legal Form
: Limited liability company
|
Register of Handcraft firms
: 36414 of Vicenza |
|
Fiscal Code : 00280260241 |
|
Foreign Trade Reg. no.
: VI031208 since 08/05/1992 |
|
Chamber of Commerce no. :
119390 of Vicenza since 11/05/1973 |
|
V.A.T. Code : 00280260241 |
|
Establishment Date |
: 20/04/1973 |
|
|
Start of Activities |
: 01/01/2001 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 46.800 |
Eur |
|
Subscribed Capital |
: 46.800 |
Eur |
|
Paid up Capital |
: 46.800 |
Eur |
MEMBERS
|
Troncon |
Gino |
|
Born in Desenzano del Garda |
(BS) |
on 10/12/1944 |
- Fiscal Code : TRNGNI44T10D284J |
|
Residence : |
Via |
Salin |
, 7 |
- 36100 |
Vicenza |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
|
|
|
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.
|
TRONCON |
GINO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
BISSABOA SOCIETA' SEMPLICE |
Caorle (VE) - IT - |
00838110278 |
Partner |
Active |
Registered |
|
MATROS - S.R.L. |
Sovizzo (VI) - IT - |
00891860249 |
Sole Director |
Active |
Registered |
|
PINETTA IMMOBILIARE - S.R.L. |
Brendola (VI) - IT - |
03117590244 |
Sole Director |
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 |
|
Troncon Gino |
Vicenza - IT - |
TRNGNI44T10D284J |
28.080 .Eur |
33,33 |
|
Troncon Nicola |
|
TRNNCL72C20L840M |
9.360 .Eur |
33,33 |
|
Troncon Andrea |
|
TRNNDR75C10L840W |
9.360 .Eur |
33,33 |
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 : |
|
|
|
|
|
Via |
Enrico Mattei |
, 1/3 |
- 36040 - |
Brendola |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0444/400366 |
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|
|
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FAX |
: 0444/406441 |
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|
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Employees |
: 23 |
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|
|
|
Fittings and Equipment |
for a value of
129.114 |
Eur |
|
|
|
|
Stocks |
for a value of
930.000 |
Eur |
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
|
- direct orders to foreign companies |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Cipro |
HISTORICAL INFORMATION AND/OR FIRM'S
STATUS
|
Splitting-up and transfer of assets to |
|
PINETTA IMMOBILIARE S.R.L. |
|
, Brendola Via E. Mattei N. 1/3 |
(VI) |
- IT - |
|
Date |
Splitting-up : |
29/12/2003 |
PAYMENTS ANALYSIS
The average term of debts to suppliers is higher than the sector one.
PAYMENTS SCORE : - 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 |
302.127 .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 2001
Unstable economic results mark the company's financial state of affairs.
yet with a positive result in the 2006 (r.o.e. 1,11%). The turnover is growing
in the last financial year (+30,33%).
The operating result in 2006 was positive (2,94%) and in line with the
sector's average.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,7) yet on the increase as against the previous accounting
period.
The recourse to financial credit is within the limits; on the other hand
the recourse to suppliers' credit is rated as fairly high and higher than
sector's average.
Liquid assets are good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
4.546.376 |
filed balance sheet |
|
Profit (Loss) for the period |
11.096 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
3.488.350 |
filed balance sheet |
|
Profit (Loss) for the period |
12.626 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
4.738.279 |
filed balance sheet |
|
Profit (Loss) for the period |
-74.827 |
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 |
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|
. |
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|
ASSETS |
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|
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CREDITS TO SHAREHOLDERS |
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|
|
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|
FIXED ASSETS ( NET ) |
|
|
356.990 |
332.946 |
|
. Intangible assets |
|
|
190.794 |
159.074 |
|
. Tangible fixed assets |
|
|
166.196 |
173.872 |
|
. . Land and buildings |
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|
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|
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. . Plants, Equipm.and Machinery |
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|
|
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. Long-term Investments |
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|
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. . Financial loans |
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|
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. . Own shares |
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|
|
|
|
CURRENT ASSETS |
|
|
3.719.022 |
2.804.378 |
|
. Stock |
|
|
930.222 |
987.032 |
|
. Credits |
|
|
2.293.919 |
1.282.465 |
|
. . Credits to clients |
|
|
2.045.805 |
|
|
. . Other credits |
|
|
248.114 |
|
|
. Short-term financial assets |
|
|
372.113 |
372.113 |
|
. Liquid assets |
|
|
122.768 |
162.768 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
6.685 |
3.986 |
|
TOTAL ASSETS |
|
|
4.082.697 |
3.141.310 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
994.124 |
983.027 |
|
. Company's capital |
|
|
46.800 |
46.800 |
|
. Reserves |
|
|
936.228 |
923.601 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
11.096 |
12.626 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
264.166 |
227.427 |
|
DEBTS |
|
|
2.824.407 |
1.930.856 |
|
. Financial M/L terms |
|
|
17.342 |
|
|
. . Financial M/L term banks |
|
|
17.342 |
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
399.354 |
|
|
. . Financial short-term banks |
|
|
399.354 |
|
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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 |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
1.620.267 |
|
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
787.444 |
|
|
ACCRUED EXPENSE |
|
|
|
|
|
TOTAL LIABILITIES |
|
|
4.082.697 |
3.141.310 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
4.546.360 |
3.736.821 |
|
. Revenues from sales/services |
|
|
4.546.376 |
3.488.350 |
|
. Change of stock (products) |
|
|
-78.094 |
161.025 |
|
OPERATING EXPENSES |
|
|
4.426.133 |
3.621.219 |
|
. Purchasing expenses |
|
|
2.395.029 |
1.585.366 |
|
. Change of stock (raw material) |
|
|
-21.284 |
18.312 |
|
. Expenses from services |
|
|
776.636 |
782.214 |
|
. Expenses from leasing |
|
|
183.730 |
184.478 |
|
. General expenses/sundry charges |
|
|
26.302 |
26.071 |
|
. Staff expenses |
|
|
973.691 |
909.662 |
|
. Depreciation/Devaluation costs |
|
|
92.029 |
115.116 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-42.033 |
-27.877 |
|
. Financial charges |
|
|
-42.832 |
-27.877 |
|
. Financial revenues |
|
|
799 |
|
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
|
|
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
78.194 |
87.725 |
|
TAX |
|
|
67.098 |
75.099 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
11.096 |
12.626 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
3,57 |
3,63 |
2,08 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
2,70 |
1,79 |
2,53 |
|
Current ratio |
Units |
=> 1 |
l |
1,32 |
1,45 |
1,34 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
0,99 |
0,94 |
0,91 |
|
Return on Sales |
% |
|
l |
2,26 |
3,66 |
2,28 |
|
Average stock waiting period |
dd |
|
l |
73,65 |
101,84 |
81,97 |
|
Credits to clients average term |
dd |
|
l |
161,96 |
n.c. |
129,24 |
|
Debts to suppliers average term |
dd |
|
l |
173,80 |
240,00 |
140,98 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,92 |
- 0,79 |
- 1,01 |
|
Labour cost incidence |
% |
|
l |
21,41 |
26,07 |
24,74 |
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:
114.100 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
831.356 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
SECTOR DATA
The values are calculated on a base of 202 significant companies.
The companies cash their credits on an average of 129 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 2,28%.
The labour cost affects the turnover in the measure of 24,74%.
Goods are held in stock in a range of 81 dd.
The difference between the sales volume and the resources used to
realize it is about 1,04.
The employees costs represent the 24,70% 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 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
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%)