MIRA
INFORM REPORT
|
Report Date : |
19.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ONDULIT ITALIANA SPA |
|
|
|
|
Registered Office : |
Via Portuense, 95/E 00153 –
Roma (RM) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
17.12.1981 |
|
|
|
|
Com. Reg. No.: |
RM-2001-302394 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Processing related to Steel Profiling |
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 923.000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Ondulit Italiana Spa
Via Portuense, 95/E
00153 - Roma (RM) -IT-
SUMMARY
|
Fiscal Code |
: |
00421530585 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
17/12/1981 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
from 71 to 90 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
923.000 - Eur |
|
Score |
: |
Risk low |
|
Creditworthness Rate |
: |
Excellent |
|
|
|
Financial/patrimonial analysis very good - Credit with very low risk |
ACTIVITY
Processing related to steel profiling
Production of cement,lime and gypsum.
Production of concrete building elements and bricks and other
sylicic-calcareous products; pumice-cement products.
Production of mastics for paints and for other use.
Production of plastic manufactured articles for building industry.
LEGAL DATA
Legal Form : Joint stock company
|
Fiscal Code : 00421530585 |
|
Foreign Trade Reg. no.
: 341 of Latina since 28/02/1992 |
|
Chamber of Commerce no.
: 20721 of Latina since 14/01/1957 |
|
Chamber of Commerce no.
: 1121796 of Milano |
|
Chamber of Commerce no.
: 213107 of Roma since 31/10/1958 |
|
Chamber of Commerce no.
: 86429 of Terni since 03/02/2004 |
|
Firms' Register : RM-2001-302394 since 18/12/2001 |
|
Firms' Register : RM-2001-302394 |
|
V.A.T. Code
: 00886811009 |
|
Court : 2111 of Latina |
|
Foundation Date |
: 14/01/1957 |
|
|
Establishment Date |
: 14/01/1957 |
|
|
Start of Activities |
: 17/12/1981 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 3.000.000 |
Eur |
|
Subscribed Capital |
: 3.000.000 |
Eur |
|
Paid up Capital |
: 3.000.000 |
Eur |
MEMBERS
|
Andreoli |
Federico |
|
Born in Roma |
(RM) |
on 09/10/1940 |
- Fiscal Code : NDRFRC40R09H501A |
|
Residence : |
Via |
Portuense |
, 95/E |
- 00153 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2006 |
|
|
|
Attorney with special power |
08/11/1972 |
|
|
No Protests registered.
|
Andreoli |
Ignazio |
|
Born in Roma |
(RM) |
on 05/08/1942 |
- Fiscal Code : NDRGNZ42M05H501O |
|
Residence : |
Vicolo |
Del Cinque |
, 32 |
- 00153 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2006 |
|
|
|
Attorney with special power |
08/11/1972 |
|
|
No Protests registered.
|
Andreoli |
Francesco |
|
Born in Roma |
(RM) |
on 27/07/1943 |
- Fiscal Code : NDRFNC43L27H501J |
|
Residence : |
Via |
Mecenate |
, 22 |
- 00184 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/11/1972 |
|
|
No Protests registered.
|
Andreoli |
Stefano |
|
Born in Roma |
(RM) |
on 18/07/1939 |
- Fiscal Code : NDRSFN39L18H501F |
|
Residence : |
Via |
Curioni 99 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/11/1972 |
|
|
|
Managing Director |
30/04/2006 |
|
|
|
Board Chairman |
30/04/2006 |
|
|
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.
|
ANDREOLI |
IGNAZIO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
LA DIANELLA DELL ING. F. MELUZZI E C. - SOCIETA IN ACCOMANDITA
SEMPLICE |
Roma (RM) - IT - |
|
Limited Partner |
- |
Ceased |
|
TECH MARK - S.R.L |
Roma (RM) - IT - |
04853700583 |
Sole Director |
Active |
Registered |
|
ANDREOLI |
FRANCESCO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
ENERGIE NUOVE SOCIETA A RESPONSABILITA LIMITATA |
Roma (RM) - IT - |
09700461008 |
Director |
Active |
Registered |
|
ENERGIE NUOVE SOCIETA A RESPONSABILITA LIMITATA |
Roma (RM) - IT - |
09700461008 |
Responsible technician |
Active |
Registered |
|
IMMOBILIARE SAN DONATO S.R.L. |
Roma (RM) - IT - |
03146760370 |
Sole Director |
Active |
Registered |
|
NUOVA ACME SOCIETA A RESPONSABILITA LIMITATA |
Roma (RM) - IT - |
06143420583 |
Sole Director |
Active |
Registered |
|
ANDREOLI |
STEFANO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
FINALGAN - S. R. L. |
Roma (RM) - IT - |
04636280580 |
Board Chairman |
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 |
|
Finalgan - S. R. L. |
Roma - IT - |
04636280580 |
1.500.000 .Eur |
50,00 |
|
AFILE - S.R.L. |
Roma - IT - |
04636300586 |
1.500.000 .Eur |
50,00 |
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 |
|
since 14/01/1957 |
in : |
|
|
|
|
|
Via |
Portuense |
, 95/E |
- 00153 - |
Roma |
(RM) |
- IT - |
|
|
|
|
TELEX |
: 620803 |
|
|
|
|
PHONE |
: 06/58330880 |
|
- |
Branch |
(Office ) |
since 01/02/1983 |
in : |
|
|
|
|
|
Via |
Gozzano Guido |
, 3 |
- 20133 - |
Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 06/58330880 |
|
|
|
|
FAX |
: 06/5812977 |
|
- |
Branch |
(Factory ) |
since 30/11/2001 |
in : |
|
|
|
|
|
Via |
Appia Nuova Km 49,300 |
- 04012 - |
Cisterna di Latina |
(LT) |
- IT - |
|
|
|
|
PHONE |
: 06/58330880 |
|
- |
Branch |
(Factory ) |
since 14/11/2003 |
in : |
|
|
|
|
|
Via |
Ortana Vecchia |
, SNC |
- 05035 - |
Narni |
(TR) |
- IT - |
|
- |
Branch |
(Store ) |
since 31/10/1958 |
in : |
|
|
|
|
|
Via |
Di Vigna Girelli |
, 38 |
- 00148 - |
Roma |
(RM) |
- IT - |
|
|
|
|
Employees |
: 90 |
|
|
|
|
Fittings and Equipment |
for a value of
3.430.000 |
Eur |
|
|
|
|
Stocks |
for a value of
5.640.000 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
45.000 |
Eur |
|
|
|
|
Vehicles |
for a value of
83.000 |
Eur |
Sales are on an international scale.
|
|
The firm operates abroad as importer / exporter. .
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
Import comes generally from the following nations:
|
- Austria |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
|
|
De facto company |
General partnership |
12/10/1957 |
|
General partnership |
Limited liability company |
28/12/1967 |
|
Limited liability company |
Joint stock company |
12/03/1980 |
|
Ex-Members /
Ex-Positions |
|
Andreoli |
Stefano |
|
Born in Roma |
on 18/07/1939 |
- Fiscal Code : NDRSFN39L18H501F |
|
Residence : |
Via |
Curioni 99 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Position |
|
Chairman |
|
Managing Director |
|
Feliziani |
Claudio |
|
Born in ROMA |
on 09/06/1960 |
- Fiscal Code : FLZCLD60H09H501Z |
|
Residence : |
Via |
GIUSEPPE ARMONDI |
, 52 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Former seats |
|
- |
Branch |
(Factory ) |
since 14/11/2003 |
|
|
|
|
|
Via |
ORTANA VECCHIA |
- 05035 |
- NARNI |
(TR) |
- IT - |
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 Month : n. 1 times.
During the last 6 Months : n. 8 times.
During the last 12 Months : n. 14 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 |
2.605.571 .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 1957.
During the last years, it achieved profits (r.o.e. 3,11% on 2006) and
during the last financial year an increase in sales volume was registered
(+15,45% in 2006).
The operating result was positive in the last financial year (3,73%)
falling within the field's average.
From a financial aspect the company's status covers total short-term
debts; the indebtedness volume in 2006 is in fact 0,35 increasing compared to
last year (0,34)
Bank and suppliers credit recourse is limited, 71,6 gg. is payment
average period which is also lower than the sector average.
The liquidity level is positive (2,71).
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
24.524.898 |
filed balance sheet |
|
Profit (Loss) for the period |
447.053 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
21.241.299 |
filed balance sheet |
|
Profit (Loss) for the period |
6.064 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
23.111.145 |
filed balance sheet |
|
Profit (Loss) for the period |
1.058.017 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2003 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
21.112.550 |
filed balance sheet |
|
Profit (Loss) for the period |
865.872 |
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 ) |
|
|
6.202.221 |
6.603.264 |
|
. Intangible assets |
|
|
69.143 |
56.282 |
|
. Tangible fixed assets |
|
|
6.121.932 |
6.498.609 |
|
. . Land and buildings |
|
|
2.605.571 |
2.731.539 |
|
. . Plants, Equipm.and Machinery |
|
|
3.434.554 |
3.699.504 |
|
. Long-term Investments |
|
|
11.146 |
48.373 |
|
. . Financial loans |
|
|
11.146 |
48.373 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
19.382.636 |
17.854.995 |
|
. Stock |
|
|
5.641.976 |
4.139.693 |
|
. Credits |
|
|
11.742.678 |
12.245.115 |
|
. . Credits to clients |
|
|
10.991.007 |
11.055.275 |
|
. . Other credits |
|
|
751.671 |
1.189.840 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
1.997.982 |
1.470.187 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
18.302 |
93.959 |
|
TOTAL ASSETS |
|
|
25.603.159 |
24.552.218 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
14.373.524 |
13.926.470 |
|
. Company's capital |
|
|
3.000.000 |
3.000.000 |
|
. Reserves |
|
|
3.312.798 |
3.312.798 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
7.613.673 |
7.607.608 |
|
. Profit (loss) |
|
|
447.053 |
6.064 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
1.424.242 |
1.596.680 |
|
DEBTS |
|
|
9.761.176 |
8.996.224 |
|
. Financial M/L terms |
|
|
2.614.086 |
2.684.421 |
|
. . Financial M/L term banks |
|
|
|
|
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
2.614.086 |
2.684.421 |
|
. Financial short-term debts |
|
|
|
|
|
. . Financial short-term banks |
|
|
|
|
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
4.087.536 |
5.554.663 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
3.059.554 |
757.140 |
|
ACCRUED EXPENSE |
|
|
44.217 |
32.844 |
|
TOTAL LIABILITIES |
|
|
25.603.159 |
24.552.218 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
25.116.320 |
20.825.735 |
|
. Revenues from sales/services |
|
|
24.524.898 |
21.241.299 |
|
. Change of stock (products) |
|
|
590.618 |
-415.696 |
|
OPERATING EXPENSES |
|
|
24.160.646 |
20.615.896 |
|
. Purchasing expenses |
|
|
14.350.796 |
9.461.524 |
|
. Change of stock (raw material) |
|
|
-911.665 |
293.094 |
|
. Expenses from services |
|
|
5.427.303 |
5.694.999 |
|
. Expenses from leasing |
|
|
771.076 |
749.534 |
|
. General expenses/sundry charges |
|
|
695.830 |
630.924 |
|
. Staff expenses |
|
|
2.766.425 |
2.766.776 |
|
. Depreciation/Devaluation costs |
|
|
1.060.881 |
1.019.045 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
38.969 |
8.436 |
|
. Financial charges |
|
|
|
-31.464 |
|
. Financial revenues |
|
|
38.969 |
39.900 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
29.036 |
11.927 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
1.023.679 |
230.202 |
|
TAX |
|
|
576.626 |
224.138 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
447.053 |
6.064 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
2,96 |
2,75 |
1,46 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
0,35 |
0,34 |
2,23 |
|
Current ratio |
Units |
=> 1 |
l |
2,71 |
2,82 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,92 |
2,17 |
0,90 |
|
Return on Sales |
% |
|
l |
6,14 |
4,82 |
4,82 |
|
Average stock waiting period |
dd |
|
l |
82,80 |
70,12 |
43,02 |
|
Credits to clients average term |
dd |
|
l |
161,31 |
187,34 |
142,99 |
|
Debts to suppliers average term |
dd |
|
l |
71,60 |
125,71 |
160,90 |
|
Net financial revenues/ charges incidence |
% |
|
l |
0,15 |
0,03 |
- 0,99 |
|
Labour cost incidence |
% |
|
l |
11,28 |
13,02 |
14,93 |
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:
923.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
3.807.992 |
|
Population living in the region |
: |
5.269.972 |
|
Number of families in the region |
: |
2.091.220 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
472 |
|
- per non food products |
: |
1.832 |
|
- per energy consume |
: |
102 |
SECTOR DATA
The values are calculated on a base of 955 significant companies.
The companies cash their credits on an average of 142 dd.
The average duration of suppliers debts is about 160 dd.
The sector's profitability is on an average of 4,82%.
The labour cost affects the turnover in the measure of 14,93%.
Goods are held in stock in a range of 43 dd.
The difference between the sales volume and the resources used to
realize it is about 1,05.
The employees costs represent the 15,01% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 53.924 protested subjects are found; in the province they
count to 34.465.
The insolvency index for the region is 1,04, while for the province it
is 0,92.
Total Bankrupt companies in the province : 31.914.
Total Bankrupt companies in the region : 37.442.
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%)