MIRA
INFORM REPORT
|
Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GE.CA LEGUMI S.R.L. |
|
|
|
|
Registered Office : |
Corso A. Volta, 76 80040-
Terzigno (NA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
09.06.1993 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Cereals and Vegetables. |
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 784.000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Ge.ca Legumi S.r.l.
Corso A. Volta, 76
80040 - Terzigno (NA) -IT-
SUMMARY
|
Fiscal Code |
: |
02737371217 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
Start of Activities |
: |
21/11/1995 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
784.000 - Eur |
|
Score |
: |
Risk low |
|
Creditworthness Rate |
: |
Excellent |
|
|
|
Financial/patrimonial analysis very good - Credit with very low risk |
ACTIVITY
Wholesale of cereals and vegetables.
LEGAL DATA
Legal Form : Sole-Member Limited Liability
Company
|
Fiscal Code : 02737371217 |
|
Municipal Licence : 298 since 03/05/1995 |
|
Foreign Trade Reg. no.
: NA021819 since 01/02/1996 |
|
Foreign Trade Reg. no.
: 021819 of Napoli since 01/02/1996 |
|
Chamber of Commerce no.
: 513174 of Napoli since 10/09/1993 |
|
Firms' Register : NA049-1993-4278 since 19/02/1996 |
|
V.A.T. Code : 02737371217 |
|
R. E. C. no. : 137342 of Napoli since
04/07/1995 |
|
R. E. C. no. : 0137342 of Napoli since
04/07/1995 |
|
Establishment Date |
: 09/06/1993 |
|
|
Start of Activities |
: 21/11/1995 |
|
|
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
|
Casillo |
Angelo |
|
Born in Ottaviano |
(NA) |
on 18/06/1967 |
- Fiscal Code : CSLNGL67H18G190L |
|
Residence : |
Via |
Europa |
, 74 |
- 80047 |
San Giuseppe Vesuviano |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
09/06/1993 |
|
|
|
Sole partner |
22/10/2005 |
|
|
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.
|
CASILLO |
ANGELO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
CASILLO GENNARO E C. S.N.C. DI CASILLO ANGELO |
Terzigno (NA) - IT - |
04876620636 |
Partner |
Dismiss |
Liquidated |
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 |
|
Casillo Angelo |
San Giuseppe Vesuviano - IT - |
CSLNGL67H18G190L |
|
100,00 |
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 : |
|
|
|
|
|
Corso |
A. Volta |
, 76 |
- 80040 - |
Terzigno |
(NA) |
- IT - |
|
|
|
|
PHONE |
: 081/8284556 |
|
|
|
|
Employees |
: 9 |
|
|
|
|
Assistants |
: 1 |
|
|
|
|
Fittings and Equipment |
for a value of
420.000 |
Eur |
|
|
|
|
Stocks |
for a value of
1.890.000 |
Eur |
HISTORICAL INFORMATION AND/OR FIRM'S
STATUS
|
Ex-Members /
Ex-Positions |
|
Sorrentino |
Armando |
|
Born in Portici |
on 11/04/1955 |
- Fiscal Code : SRRRND55D11G902F |
|
Residence : |
Via |
Liberta' |
, 205 |
- 80055 |
Portici |
(NA) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Giugliano |
Giovanni |
|
Born in San Giuseppe Vesuviano |
on 03/01/1967 |
- Fiscal Code : GGLGNN67A03H931V |
|
Residence : |
Via |
Copellarielli |
, 192 |
- 80047 |
San Giuseppe Vesuviano |
(NA) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Ranieri |
Michele |
|
Born in San Giuseppe Vesuviano |
on 04/02/1967 |
- Fiscal Code : RNRMHL67B04H931B |
|
Residence : |
Via |
Marciotti |
, 183 |
- 80047 |
San Giuseppe Vesuviano |
(NA) |
- IT - |
|
Position |
|
Temporary Auditor |
PAYMENTS ANALYSIS
The average term of debts to suppliers is shorter than the sector one.
PAYMENTS SCORE : - No insolvency
CREDIT REVOLVING
The subject of inquiry has been monitored by our company:
During the last 12 Months : n. 1 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.
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
|
Immovable Type |
Value |
|
Real estates |
2.234.861 .Eur |
NB.: For Capital Companies the value of the Immovables is the one reported
in the last available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Company's starting of activities dates back to 1995.
During the last years, it recorded positive net results (r.o.e. 3,36% in
2006) with a good increase in turnover (+9,69% in 2006 compared to 2005 and
+8,07% in 2005 compared to 2004).
The operating result in 2006 was positive (4,51%) and reflects the
field's average.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,55 which is yet rising if compared
to 2005.
Bank and suppliers credit recourse is limited, 19,8 gg. is payment
average period which is also lower than the sector average.
The management determines a good range of liquidity.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
20.938.401 |
filed balance sheet |
|
Profit (Loss) for the period |
268.350 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
19.088.421 |
filed balance sheet |
|
Profit (Loss) for the period |
184.436 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
17.661.817 |
filed balance sheet |
|
Profit (Loss) for the period |
172.148 |
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 ) |
|
|
2.522.619 |
1.243.118 |
|
. Intangible assets |
|
|
29.374 |
15.208 |
|
. Tangible fixed assets |
|
|
2.493.245 |
1.227.910 |
|
. . Land and buildings |
|
|
2.234.861 |
937.780 |
|
. . Plants, Equipm.and Machinery |
|
|
136.836 |
190.094 |
|
. Long-term Investments |
|
|
|
|
|
. . Financial loans |
|
|
|
|
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
11.804.710 |
10.269.703 |
|
. Stock |
|
|
751.897 |
1.098.564 |
|
. Credits |
|
|
10.813.939 |
8.380.523 |
|
. . Credits to clients |
|
|
10.133.519 |
8.098.448 |
|
. . Other credits |
|
|
680.420 |
282.075 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
238.874 |
790.616 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
13.558 |
22.584 |
|
TOTAL ASSETS |
|
|
14.340.887 |
11.535.405 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
7.985.227 |
7.606.175 |
|
. Company's capital |
|
|
1.000.000 |
1.000.000 |
|
. Reserves |
|
|
6.716.877 |
6.421.739 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
268.350 |
184.436 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
38.613 |
40.432 |
|
DEBTS |
|
|
6.237.933 |
3.797.875 |
|
. Financial M/L terms |
|
|
1.592.891 |
79.891 |
|
. . Financial M/L term banks |
|
|
1.442.000 |
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
150.891 |
79.891 |
|
. Financial short-term debts |
|
|
3.290.119 |
2.891.016 |
|
. . Financial short-term banks |
|
|
3.290.119 |
2.891.016 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
1.072.736 |
759.809 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
282.187 |
67.159 |
|
ACCRUED EXPENSE |
|
|
79.114 |
90.923 |
|
TOTAL LIABILITIES |
|
|
14.340.887 |
11.535.405 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
20.955.227 |
19.096.312 |
|
. Revenues from sales/services |
|
|
20.938.401 |
19.088.421 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
20.307.596 |
18.504.937 |
|
. Purchasing expenses |
|
|
18.046.101 |
16.442.817 |
|
. Change of stock (raw material) |
|
|
346.667 |
339.785 |
|
. Expenses from services |
|
|
1.340.474 |
1.312.169 |
|
. Expenses from leasing |
|
|
117.535 |
27.120 |
|
. General expenses/sundry charges |
|
|
81.582 |
31.843 |
|
. Staff expenses |
|
|
270.984 |
254.315 |
|
. Depreciation/Devaluation costs |
|
|
104.253 |
96.888 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-131.236 |
-215.029 |
|
. Financial charges |
|
|
-136.444 |
-222.745 |
|
. Financial revenues |
|
|
5.208 |
7.716 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
7.080 |
-21.838 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
523.475 |
354.508 |
|
TAX |
|
|
255.125 |
170.072 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
268.350 |
184.436 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
3,81 |
6,21 |
2,16 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
0,55 |
0,38 |
4,74 |
|
Current ratio |
Units |
=> 1 |
l |
2,54 |
2,76 |
1,14 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
2,37 |
2,46 |
0,92 |
|
Return on Sales |
% |
|
l |
1,77 |
1,47 |
1,69 |
|
Average stock waiting period |
dd |
|
l |
12,92 |
20,70 |
37,56 |
|
Credits to clients average term |
dd |
|
l |
174,20 |
152,71 |
111,16 |
|
Debts to suppliers average term |
dd |
|
l |
19,80 |
15,37 |
111,43 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,62 |
- 1,12 |
- 0,85 |
|
Labour cost incidence |
% |
|
l |
1,29 |
1,33 |
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:
784.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
3.092.859 |
|
Population living in the region |
: |
5.788.986 |
|
Number of families in the region |
: |
1.966.064 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
475 |
|
- per non food products |
: |
1.304 |
|
- per energy consume |
: |
79 |
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 remarkably risky.
In the region 80.616 protested subjects are found; in the province they
count to 41.815.
The insolvency index for the region is 1,40, while for the province it
is 1,36.
Total Bankrupt companies in the province : 18.217.
Total Bankrupt companies in the region : 28.514.
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%)