MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NAIRON S.R.L. |
|
|
|
|
Registered Office : |
Via Varese, 9
21052- Busto Arsizio (VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
29.07.1987 |
|
|
|
|
Com. Reg. No.: |
VA026-20276 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Drawing, Straining, Rolling of Steel Strips, Steel Cold Profiling. |
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 377.000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Nairon S.r.l.
Via Varese, 9
21052 - Busto Arsizio (VA) -IT-
SUMMARY
|
Fiscal Code |
: |
01694600121 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
29/07/1987 |
|
Patrimonial Consistence |
: |
2.000.000 Eur |
|
Turnover Range |
: |
18.000.000/20.000.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
377.000 - Eur |
|
Score |
: |
Risk normal |
|
Creditworthness Rate |
: |
Sufficient |
|
|
|
Financial situation is not at its best, but credit is possible with |
|
|
|
no particular risks. |
ACTIVITY
Drawing,straining,rolling of steel strips, steel cold profiling.
LEGAL DATA
Legal Form
: Limited liability company
|
Fiscal Code
: 01694600121 |
|
Foreign Trade Reg. no. :
VA023963 since 11/02/1992 |
|
Foreign Trade Reg. no.
: 23963 of Varese since 11/02/1992 |
|
Chamber of Commerce no. :
200334 of Varese since 29/05/1987 |
|
Firms' Register
: VA026-20276 since 19/02/1996 |
|
V.A.T. Code : 01694600121 |
|
Court : 20276 of Busto Arsizio |
|
Foundation Date |
: 16/04/1987 |
|
|
Establishment Date |
: 16/04/1987 |
|
|
Start of Activities |
: 29/07/1987 |
|
|
Legal Duration Date |
: 31/12/2050 |
|
|
Nominal Capital |
: 300.000 |
Eur |
|
Subscribed Capital |
: 300.000 |
Eur |
|
Paid up Capital |
: 300.000 |
Eur |
MEMBERS
|
Riccardi |
Rolando |
|
Born in Modigliana |
(FO) |
on 06/02/1954 |
- Fiscal Code : RCCRND54B06F259T |
|
Residence : |
Via |
Cappuccini |
, 50 |
- 20023 |
Cerro Maggiore |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
16/12/1996 |
|
|
|
Board Chairman |
16/12/1996 |
|
|
No Protests registered.
|
Savorana |
Gigliola |
|
Born in Modigliana |
(FO) |
on 15/02/1951 |
- Fiscal Code : SVRGLL51B55F259A |
|
Residence : |
Via |
Carlo A. Dalla Chiesa |
, 94 |
- 47015 |
Modigliana |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
21/09/2001 |
|
|
No Protests registered.
|
Riccardi |
Raffaella |
|
Born in Modigliana |
(FO) |
on 24/04/1972 |
- Fiscal Code : RCCRFL72D64F259D |
|
Residence : |
Piazza |
Garibaldi |
, 6 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/1996 |
|
|
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.
|
RICCARDI |
ROLANDO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
MILL'S S.R.L. |
Busto Arsizio (VA) - IT - |
02847030125 |
Sole Director |
Active |
Registered |
|
SOCIETA' ITALIANA TUBI ACCIAIO - SOCIETA' A RESPONSABILITA' LIMITATA |
Castano Primo (MI) - IT - |
00659800122 |
Sole Director |
Active |
Registered |
|
ZINCOLAM S.R.L. - IN LIQUIDAZIONE |
Busto Arsizio (VA) - IT - |
02489170122 |
Sole Director |
Dismiss |
Ceased |
|
ZINCOLAM S.R.L. - IN LIQUIDAZIONE |
Busto Arsizio (VA) - IT - |
02489170122 |
Liquidator |
- |
Ceased |
|
SAVORANA |
GIGLIOLA |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
AZ. AGR. SAVORANA GIGLIOLA |
Modigliana (FO) - IT - |
SVRGLL51B55F259A |
Proprietor |
Active |
Registered |
|
MARZIA BIMBI DI SAVORANA GIGLIOLA |
Parabiago (MI) - IT - |
SVRGLL51B55F259A |
Proprietor |
- |
Ceased |
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 |
|
Riccardi Rolando |
Cerro Maggiore - IT - |
RCCRND54B06F259T |
225.000 .Eur |
75,00 |
|
Savorana Gigliola |
Modigliana - IT - |
SVRGLL51B55F259A |
30.000 .Eur |
10,00 |
|
Riccardi Raffaella |
Busto Arsizio - IT - |
RCCRFL72D64F259D |
45.000 .Eur |
15,00 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Zincolam S.r.l. - In Liquidazione |
Busto Arsizio - IT - |
02489170122 |
68.688 .Eur |
70,00 |
Ceased |
|
Societa' Italiana Tubi Acciaio - Societa' A Responsabilita' Limitata |
Castano Primo - IT - |
00659800122 |
10.400 .Eur |
100,00 |
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
(Factory ) |
since 22/03/1991 |
in : |
|
|
|
|
|
Via |
Varese |
, 9 |
- 21052 - |
Busto Arsizio |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0331/629857 |
|
|
|
|
PHONE |
: 0331/323489 |
|
|
|
|
PHONE |
: 0331/629168 |
|
|
|
|
Employees |
: 16 |
|
|
|
|
Fittings and Equipment |
for a value of
210.000 |
Eur |
|
|
|
|
Stocks |
for a value of
3.860.000 |
Eur |
The firm has a direct commercial organization
Sales area on a regional scale.
|
|
The firm operates abroad as importer. .
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- Germania |
HISTORICAL INFORMATION AND/OR
FIRM'S STATUS
|
Changes to the
legal form |
|
Former legal
form |
New legal form |
Changement Date |
|
General partnership |
Limited partnership |
28/04/1988 |
|
Limited partnership |
Limited liability company |
13/12/1989 |
|
Company Style
modifications |
|
Former Style |
New Style |
Changement Date |
|
Nairon S.n.c. di Riccardi e Corbetta Gio vanna Carla |
|
28/04/1988 |
|
Nairon S.a.s. di Riccardi Rolando e C. |
|
13/12/1989 |
|
Ex-Members /
Ex-Positions |
|
Lavazza |
Anna Maria |
|
Born in BUSTO ARSIZIO |
on 03/10/1948 |
- Fiscal Code : LVZNMR48R43B300L |
|
Residence : |
Via |
NAZARIO SAURO |
, 17 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Temporary Auditor |
|
De Palma |
Eleonora |
|
Born in Milano |
on 28/06/1953 |
- Fiscal Code : DPLLNR53H68F205Z |
|
Residence : |
Via |
Samarate |
, 53 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
|
Supervisory Board Chairman |
|
Clementi |
Francesco |
|
Born in Tirano |
on 16/02/1965 |
- Fiscal Code : CLMFNC65B16L175Y |
|
Position |
|
Permanent Auditor |
|
Riccardi |
Raffaella |
|
Born in Modigliana |
on 24/04/1972 |
- Fiscal Code : RCCRFL72D64F259D |
|
Residence : |
Piazza |
Garibaldi |
, 6 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
|
Director |
|
Pisoni |
Vittorio |
|
Born in Milano |
on 27/02/1967 |
- Fiscal Code : PSNVTR67B27F205B |
|
Residence : |
Vicolo |
Pisoni |
, 1 |
- 20020 |
Arconate |
(MI) |
- IT - |
|
Position |
|
Director |
|
Director |
|
Venegoni |
Carlo |
|
Born in Busto Arsizio |
on 30/05/1955 |
- Fiscal Code : VNGCRL55E30B300V |
|
Residence : |
Via |
DONATELLO |
, 218 |
- 21050 |
Marnate |
(VA) |
- IT - |
|
Position |
|
Permanent Auditor |
|
Scazzosi |
Marco |
|
Born in BUSTO ARSIZIO |
on 04/05/1961 |
- Fiscal Code : SCZMRC61E04B300Y |
|
Residence : |
Via |
MANZONI |
, 266 |
- 21050 |
Marnate |
(VA) |
- IT - |
|
Position |
|
Temporary Auditor |
|
Former seats |
|
- |
Branch |
|
since 29/01/1991 |
until 22/03/1991 |
|
|
|
|
|
Via |
Vitruvio Pollione |
- 21012 |
- Cassano Magnago |
(VA) |
- 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 6 Months : n. 1 times.
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 |
1.893.720 .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 1987
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 2,42% in 2006 and with an upward trend in turnover trend
during the last financial year (+34,35% in 2006).
The operating result was positive in the last financial year (3,21%)
falling within the field's average.
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 5,52 increasing as against 2005.
Bank borrowings' volume is slightly high but it modestly dips into
suppliers credit, 75,96 gg. is the payments' average time below field's
average.
Liquidity is not at its best.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
18.386.248 |
filed balance sheet |
|
Profit (Loss) for the period |
47.427 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
13.684.580 |
filed balance sheet |
|
Profit (Loss) for the period |
114.579 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
15.933.109 |
filed balance sheet |
|
Profit (Loss) for the period |
94.118 |
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 ) |
|
|
2.217.164 |
2.311.149 |
|
. Intangible assets |
|
|
555 |
52.365 |
|
. Tangible fixed assets |
|
|
2.205.952 |
2.248.127 |
|
. . Land and buildings |
|
|
1.893.720 |
1.878.405 |
|
. . Plants, Equipm.and Machinery |
|
|
208.499 |
249.815 |
|
. Long-term Investments |
|
|
10.657 |
10.657 |
|
. . Financial loans |
|
|
10.657 |
10.657 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
10.917.325 |
10.310.534 |
|
. Stock |
|
|
3.862.322 |
3.854.180 |
|
. Credits |
|
|
6.932.496 |
6.288.365 |
|
. . Credits to clients |
|
|
6.667.051 |
6.073.914 |
|
. . Other credits |
|
|
265.445 |
214.451 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
122.507 |
167.989 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
27.991 |
40.927 |
|
TOTAL ASSETS |
|
|
13.162.480 |
12.662.610 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
1.956.440 |
1.909.008 |
|
. Company's capital |
|
|
300.000 |
300.000 |
|
. Reserves |
|
|
588.806 |
583.073 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
1.020.207 |
911.356 |
|
. Profit (loss) |
|
|
47.427 |
114.579 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
100.679 |
115.548 |
|
DEBTS |
|
|
11.097.564 |
10.632.496 |
|
. Financial M/L terms |
|
|
169.697 |
243.655 |
|
. . Financial M/L term banks |
|
|
169.697 |
243.655 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
|
|
|
. Financial short-term debts |
|
|
6.953.967 |
5.742.402 |
|
. . Financial short-term banks |
|
|
6.953.967 |
5.742.402 |
|
. . Financial short-term bonds |
|
|
|
|
|
. . Other financial short-term debts |
|
|
|
|
|
. M/L term debts to suppliers |
|
|
|
|
|
. Short-term debts to suppliers |
|
|
3.510.314 |
4.199.787 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
463.586 |
446.652 |
|
ACCRUED EXPENSE |
|
|
7.797 |
5.558 |
|
TOTAL LIABILITIES |
|
|
13.162.480 |
12.662.610 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
19.342.362 |
13.400.034 |
|
. Revenues from sales/services |
|
|
18.386.248 |
13.684.580 |
|
. Change of stock (products) |
|
|
865.492 |
-335.308 |
|
OPERATING EXPENSES |
|
|
18.919.342 |
12.868.969 |
|
. Purchasing expenses |
|
|
15.068.669 |
10.947.282 |
|
. Change of stock (raw material) |
|
|
857.351 |
-989.460 |
|
. Expenses from services |
|
|
1.207.569 |
1.122.184 |
|
. Expenses from leasing |
|
|
356.280 |
373.067 |
|
. General expenses/sundry charges |
|
|
75.601 |
357.856 |
|
. Staff expenses |
|
|
1.109.680 |
808.663 |
|
. Depreciation/Devaluation costs |
|
|
244.192 |
249.377 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-188.498 |
-155.056 |
|
. Financial charges |
|
|
-229.292 |
-173.687 |
|
. Financial revenues |
|
|
40.794 |
18.631 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
32.194 |
-1.529 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
266.716 |
374.480 |
|
TAX |
|
|
219.289 |
259.901 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
47.427 |
114.579 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,00 |
0,98 |
1,58 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
5,52 |
5,35 |
2,39 |
|
Current ratio |
Units |
=> 1 |
l |
0,99 |
0,99 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,64 |
0,62 |
0,92 |
|
Return on Sales |
% |
|
l |
1,58 |
2,65 |
4,00 |
|
Average stock waiting period |
dd |
|
l |
75,60 |
101,37 |
47,94 |
|
Credits to clients average term |
dd |
|
l |
130,53 |
159,76 |
122,99 |
|
Debts to suppliers average term |
dd |
|
l |
75,96 |
121,50 |
140,34 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 1,02 |
- 1,13 |
- 0,81 |
|
Labour cost incidence |
% |
|
l |
6,03 |
5,90 |
13,78 |
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:
377.000 .Eur.
MARKET / TERRITORY DATA
|
Population living in the province |
: |
843.250 |
|
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 299 significant companies.
The companies cash their credits on an average of 122 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 4,00%.
The labour cost affects the turnover in the measure of 13,78%.
Goods are held in stock in a range of 47 dd.
The difference between the sales volume and the resources used to
realize it is about 1,28.
The employees costs represent the 14,34% 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 50.886 protested subjects are found; in the province they
count to 4.597.
The insolvency index for the region is 0,55, while for the province it
is 0,55.
Total Bankrupt companies in the province : 3.052.
Total Bankrupt companies in the region : 39.612.
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%)