MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LAMIEREDIL SPA |
|
|
|
|
Registered Office : |
Strada Statale 106, Km. 198 Marina 88050 – Sellia (CZ) |
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|
|
Country : |
Italy |
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|
|
Financials (as on) : |
31.12.2006 |
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|
Date of Incorporation : |
09.11.1971 |
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|
|
Legal Form : |
Joint Stock Company |
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|
Line of Business : |
Forging, Pressing, Drawing, Cutting and Embossing of Steel Sheets. |
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 212.000
|
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
name & address
Lamieredil Spa
Strada Statale
106, Km. 198 Marina
88050 - Sellia (CZ) -IT-
SUMMARY
|
Fiscal Code |
: |
00146770797 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
09/11/1971 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
6.500.000/7.750.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
212.000 - 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
Forging, pressing, drawing, cutting and embossing of steel sheets.
Wholesale of iron articles and other metal articles.
LEGAL DATA
Legal Form
: Joint stock company
|
Fiscal Code
: 00146770797 |
|
Municipal Licence
: 13 since 18/06/1993 |
|
Chamber of Commerce no. : 65648 of Catanzaro since 27/12/1971 |
|
V.A.T. Code
: 00146770797 |
|
R. E. C. no.
: 44584 of Catanzaro since 12/03/1990 |
|
Court
: 1599 of Catanzaro since 14/12/1971 |
|
Foundation Date |
: 09/11/1971 |
|
|
Establishment Date |
: 09/11/1971 |
|
|
Start of Activities |
: 09/11/1971 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 241.800 |
Eur |
|
Subscribed Capital |
: 241.800 |
Eur |
|
Paid up Capital |
: 241.800 |
Eur |
MEMBERS
|
Valentino |
Rosaria |
|
Born in Catanzaro |
(CZ) |
on 23/04/1965 |
- Fiscal Code : VLNRSR65D63C352Q |
|
Residence : |
Via |
La Petrizia |
, 6 |
- 88050 |
Sellia Marina |
(CZ) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
28/05/2007 |
|
|
No Protests registered.
|
Lia |
Anna |
|
Born in Taverna |
(CZ) |
on 06/12/1939 |
- Fiscal Code : LIANNA39T46L070L |
|
Residence : |
Via |
Delle Repubbliche Marinare |
, 7 |
- 88100 |
Catanzaro |
(CZ) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/05/2007 |
|
|
No Protests registered.
|
Valentino |
Loredana |
|
Born in Catanzaro |
(CZ) |
on 07/03/1968 |
- Fiscal Code : VLNLDN68C47C352K |
|
Residence : |
Via |
Fonte Lagrimosa |
, 100 |
- 00013 |
Mentana |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/05/2007 |
|
|
No Protests registered.
|
Valentino |
Antonio |
|
Born in Catanzaro |
(CZ) |
on 19/02/1972 |
- Fiscal Code : VLNNTN72B19C352L |
|
Residence : |
Via |
Giardinello |
, 96 |
- 88050 |
Sellia Marina |
(CZ) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/05/2007 |
|
|
No Protests registered.
COMPANIES CONNECTED TO MEMBERS *
*checkings have been performed on a national scale.
The Members of the subject firm are not reported to be Members in other
companies.
CAPITAL SHAREHOLDERS
|
Style / Name |
Seat / Address |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Valentino Rosaria |
Sellia Marina - IT - |
VLNRSR65D63C352Q |
42.449 .Eur |
25,00 |
|
Lia Anna |
Catanzaro - IT - |
LIANNA39T46L070L |
114.453 .Eur |
25,00 |
|
Valentino Loredana |
Mentana - IT - |
VLNLDN68C47C352K |
42.449 .Eur |
25,00 |
|
Valentino Antonio |
Sellia Marina - IT - |
VLNNTN72B19C352L |
42.449 .Eur |
25,00 |
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 09/11/1971 |
in : |
|
|
|
|
|
Strada Statale |
106 |
, Km. 198 Loc. Marina |
- 88050 - |
Sellia |
(CZ) |
- IT - |
|
|
|
|
PHONE |
: 0961/964107 |
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|
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Employees |
: 22 |
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|
|
|
Fittings and Equipment |
for a value of
670.000 |
Eur |
|
|
|
|
Stocks |
for a value of
1.950.000 |
Eur |
|
|
|
|
Furniture and fittings |
for a value of
31.000 |
Eur |
|
|
|
|
Vehicles |
for a value of
110.000 |
Eur |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
06/05/1987 |
|
Ex-Members /
Ex-Positions |
|
Valentino Donato |
|
|
Born in Soveria Simeri |
on 29/07/1937 |
- Fiscal Code : VLNDNT37L29I875P |
|
Fiscal residence : |
Via |
Giovanvincenzo Gravina |
, 13 |
- 88100 |
Catanzaro |
(CZ) |
- IT - |
|
Position |
|
Chairman |
PAYMENTS ANALYSIS
The average term of debts to suppliers is high compared with that of the
sector.
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 |
|
Plots of land |
454.482 .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 1971
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 6,54% in 2006 with an increase in 2006 (+12,24%).
The operating result in 2006 was positive (5,56%) falling within the
field's average.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,66 improved in comparison with the
year before (1,16.).
Payments average period is high and higher than the sector.
Neverthless available funds are good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
6.849.196 |
filed balance sheet |
|
Profit (Loss) for the period |
186.185 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
6.101.905 |
filed balance sheet |
|
Profit (Loss) for the period |
174.042 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
6.930.882 |
filed balance sheet |
|
Profit (Loss) for the period |
352.162 |
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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|
ASSETS |
|
|
|
|
|
CREDITS TO SHAREHOLDERS |
|
|
|
|
|
FIXED ASSETS ( NET ) |
|
|
3.142.188 |
2.392.610 |
|
. Intangible assets |
|
|
31 |
38 |
|
. Tangible fixed assets |
|
|
3.142.157 |
2.392.572 |
|
. . Land and buildings |
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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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. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
4.815.837 |
4.901.864 |
|
. Stock |
|
|
1.950.988 |
1.666.872 |
|
. Credits |
|
|
1.930.528 |
2.015.341 |
|
. . Credits to clients |
|
|
1.930.528 |
2.015.341 |
|
. . Other credits |
|
|
|
|
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. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
934.321 |
1.219.651 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
3.643 |
12.822 |
|
TOTAL ASSETS |
|
|
7.961.668 |
7.307.296 |
|
. |
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|
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|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
2.843.245 |
2.682.051 |
|
. Company's capital |
|
|
241.800 |
241.800 |
|
. Reserves |
|
|
2.277.478 |
2.154.631 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
137.782 |
111.578 |
|
. Profit (loss) |
|
|
186.185 |
174.042 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
328.561 |
290.410 |
|
DEBTS |
|
|
4.789.862 |
4.334.835 |
|
. Financial M/L terms |
|
|
|
|
|
. . Financial M/L term banks |
|
|
|
|
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. . Financial M/L bonds |
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|
|
|
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. . Other financial M/L debts |
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|
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. Financial short-term debts |
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|
|
|
|
. . Financial short-term banks |
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|
|
|
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. . Financial short-term bonds |
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|
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|
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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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|
|
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. Sundry M/L debts |
|
|
|
|
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. Sundry short-term debts |
|
|
|
|
|
ACCRUED EXPENSE |
|
|
|
|
|
TOTAL LIABILITIES |
|
|
7.961.668 |
7.307.296 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
7.003.663 |
6.234.302 |
|
. Revenues from sales/services |
|
|
6.849.196 |
6.101.905 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
6.560.355 |
5.829.792 |
|
. Purchasing expenses |
|
|
5.645.361 |
4.805.203 |
|
. Change of stock (raw material) |
|
|
-284.116 |
-184.115 |
|
. Expenses from services |
|
|
348.952 |
349.455 |
|
. Expenses from leasing |
|
|
|
|
|
. General expenses/sundry charges |
|
|
70.908 |
80.469 |
|
. Staff expenses |
|
|
640.837 |
597.069 |
|
. Depreciation/Devaluation costs |
|
|
138.413 |
181.711 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-66.634 |
-48.859 |
|
. Financial charges |
|
|
-66.634 |
|
|
. Financial revenues |
|
|
|
-48.859 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-29.020 |
-20.996 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
347.654 |
334.655 |
|
TAX |
|
|
161.469 |
160.613 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
186.185 |
174.042 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,63 |
1,24 |
1,50 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
0,66 |
1,16 |
2,89 |
|
Current ratio |
Units |
=> 1 |
l |
1,69 |
1,13 |
1,19 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,00 |
0,74 |
0,87 |
|
Return on Sales |
% |
|
l |
4,73 |
5,83 |
4,81 |
|
Average stock waiting period |
dd |
|
l |
102,52 |
98,31 |
48,83 |
|
Credits to clients average term |
dd |
|
l |
101,44 |
118,87 |
129,31 |
|
Debts to suppliers average term |
dd |
|
l |
260,00 |
300,00 |
150,42 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,97 |
- 0,80 |
- 1,07 |
|
Labour cost incidence |
% |
|
l |
9,35 |
9,78 |
18,31 |
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:
212.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
368.923 |
|
Population living in the region |
: |
2.009.268 |
|
Number of families in the region |
: |
730.272 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
437 |
|
- per non food products |
: |
1.235 |
|
- per energy consume |
: |
90 |
SECTOR DATA
The values are calculated on a base of 616 significant companies.
The companies cash their credits on an average of 129 dd.
The average duration of suppliers debts is about 150 dd.
The sector's profitability is on an average of 4,81%.
The labour cost affects the turnover in the measure of 18,31%.
Goods are held in stock in a range of 48 dd.
The difference between the sales volume and the resources used to
realize it is about 1,19.
The employees costs represent the 18,90% 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 30.540 protested subjects are found; in the province they
count to 4.970.
The insolvency index for the region is 1,52, while for the province it
is 1,35.
Total Bankrupt companies in the province : 1.079.
Total Bankrupt companies in the region : 5.013.
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%)