MIRA
INFORM REPORT
|
Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FADIS - S.P.A. |
|
|
|
|
Registered Office : |
Via Colombera, 70 21048- Solbiate Arno (VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
07.09.1990 |
|
|
|
|
Com. Reg. No.: |
VA026-5713B |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Installation of Textile Machines and their
Accessories. |
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 451.900 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
Fadis - S.p.a.
Via Colombera, 70
21048 - Solbiate Arno (VA) -IT-
SUMMARY
|
Fiscal Code |
: |
00216410126 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
07/09/1990 |
|
Patrimonial Consistence |
: |
Over 2.500.000 Eur |
|
Turnover Range |
: |
10.000.000/12.750.000 Eur |
|
Number of Employees |
: |
from 51 to 70 |
CREDIT ANALYSIS
|
CREDIT OPINION |
: |
451.900 - Eur |
|
Score |
: |
Risk low |
|
Creditworthness Rate |
: |
Excellent |
|
|
|
Financial/patrimonial analysis very good - Credit with very low risk |
ACTIVITY
Manufacturing and installation of textile machines and their
accessories.
LEGAL DATA
Legal Form
: Joint stock company
|
Fiscal Code : 00216410126 |
|
Foreign Trade Reg. no. : VA007396 since 16/12/1991 |
|
Chamber of Commerce no. :
81343 of Varese since 16/11/1960 |
|
Firms' Register : VA026-5713B |
|
V.A.T. Code : 00216410126 |
Foundation Date : 01/01/1960
Establishment Date : 17/10/1960
Start of
Activities :
07/09/1990
Legal Duration
Date : 31/12/2050
Nominal Capital : 4.510.000 Eur
Subscribed Capital : 4.510.000 Eur
Paid up Capital : 4.510.000 Eur
MEMBERS
|
Carabelli |
Danilo |
|
Born in Solbiate Arno |
(VA) |
on 18/03/1931 |
- Fiscal Code : CRBDNL31C18I793A |
|
Residence : |
Via |
Colombera |
, 25 |
- 21048 |
Solbiate Arno |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
25/05/2007 |
|
|
|
Board Chairman |
25/05/2007 |
|
|
No Protests registered.
|
Canton |
Armando |
|
Born in Vas |
(BL) |
on 18/02/1926 |
- Fiscal Code : CNTRND26B18L692N |
|
Residence : |
Via |
Carnago |
, 13 |
- 21048 |
Solbiate Arno |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
25/05/2007 |
|
|
No Protests registered.
|
Carabelli |
Giuseppe |
|
on 23/11/1964 |
- Fiscal Code : CRBGPP64S23Z133R |
|
Residence : |
Via |
Colombera |
, 26 |
- 21048 |
Solbiate Arno |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
25/05/2007 |
|
|
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.
|
CARABELLI |
DANILO |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
AGATEX S.P.A. |
Varese (VA) - IT - |
02561590122 |
Board Chairman |
Dismiss |
Registered |
|
CARABELLI S.R.L. - IN LIQUIDAZIONE |
Solbiate Arno (VA) - IT - |
00216070128 |
Sole Director |
Dismiss |
Registered |
|
CARABELLI S.R.L. - IN LIQUIDAZIONE |
Solbiate Arno (VA) - IT - |
00216070128 |
Liquidator |
Active |
Registered |
|
INDUSTRIA E UNIVERSITA' S.R.L. |
Varese (VA) - IT - |
01930490121 |
Director |
Active |
Registered |
|
INIZIATIVA UNIVERSITARIA 1991 S.P.A. |
Varese (VA) - IT - |
08526620151 |
Director |
Active |
Registered |
|
INIZIATIVA UNIVERSITARIA 1991 SRL |
Milano (MI) - IT - |
08526620151 |
Director |
- |
Ceased |
|
INIZIATIVA UNIVERSITARIA 1991 SRL |
Milano (MI) - IT - |
08526620151 |
Director |
Dismiss |
Ceased |
|
MABU JERSEY S.R.L. - IN LIQUIDAZIONE |
Solbiate Arno (VA) - IT - |
00216420125 |
Chairman |
Dismiss |
Registered |
|
MABU JERSEY S.R.L. - IN LIQUIDAZIONE |
Solbiate Arno (VA) - IT - |
00216420125 |
Vice-Chairman |
Dismiss |
Registered |
|
MABU JERSEY S.R.L. - IN LIQUIDAZIONE |
Solbiate Arno (VA) - IT - |
00216420125 |
Liquidator |
Active |
Registered |
|
MABU JERSEY S.R.L. - IN LIQUIDAZIONE |
Solbiate Arno (VA) - IT - |
00216420125 |
Board Chairman |
Dismiss |
Registered |
|
MANDRICARDO S.P.A. |
Solbiate Arno (VA) - IT - |
00589950120 |
Director |
Active |
Registered |
|
MANDRICARDO S.P.A. |
Solbiate Arno (VA) - IT - |
00589950120 |
Managing Director |
Active |
Registered |
|
MANDRICARDO S.P.A. |
Solbiate Arno (VA) - IT - |
00589950120 |
Board Chairman |
Active |
Registered |
|
MAXIT SRL |
Rozzano (MI) - IT - |
06356820156 |
Liquidator |
- |
Ceased |
|
SIRTEX S.P.A. |
Rozzano (MI) - IT - |
05936140150 |
Liquidator |
- |
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 |
|
Carabelli Danilo |
Solbiate Arno - IT - |
CRBDNL31C18I793A |
328.000 .Eur |
7,27 |
|
SOCIETA' PER AMMINISTRAZIONI FIDUCIARIE SPAFID SOCIETA' PER AZIONI |
Milano - IT - |
00717010151 |
2.050.000 .Eur |
45,45 |
|
Canton Armando |
Solbiate Arno - IT - |
CNTRND26B18L692N |
82.000 .Eur |
1,81 |
|
Societa' Fiducia E Consulenza |
|
|
2.050.000 .Eur |
45,45 |
DIRECT PARTICIPATIONS
|
Company Style |
Legal Seat |
Fiscal Code |
Owned Shares |
% of Ownership |
Share Status |
|
Carabelli S.r.l. - In Liquidazione |
Solbiate Arno - IT - |
00216070128 |
13.494 .Eur |
65,26 |
Active |
|
C.E.A.M. - CONSORZIO ESPORTAZIONE ALTO MILANESE |
Busto Arsizio - IT - |
01981710120 |
|
|
Active |
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Via |
Colombera |
, 70 |
- 21048 - |
Solbiate Arno |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0331/994444 |
|
|
|
|
PHONE |
: 0331/989511 |
|
|
|
|
Employees |
: 67 |
|
|
|
|
Fittings and Equipment |
for a value of
339.500 |
Eur |
|
|
|
|
Stocks |
for a value of
2.209.000 |
Eur |
HISTORICAL INFORMATION AND/OR FIRM'S
STATUS
|
Ex-Members /
Ex-Positions |
|
Carabelli |
Giuseppe |
|
on 23/11/1964 |
- Fiscal Code : CRBGPP64S23Z133R |
|
Residence : |
Via |
Colombera |
, 26 |
- 21048 |
Solbiate Arno |
(VA) |
- IT - |
|
Position |
|
Director |
|
Project of merging by taking over of |
|
Carabelli S.r.l. - In Liquidazione |
|
Via |
Colombera |
, 27 |
, 21048 |
, Solbiate Arno |
(VA) |
- IT - |
|
Fiscal Code: 00216070128 |
|
Date |
Merging/Splitting-up Project : |
30/07/1998 |
PAYMENTS ANALYSIS
The average term of debts to suppliers is shorter than the sector one.
PAYMENTS SCORE : ZZZZZ - 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 |
8.566.181 .Eur |
NB.: For Capital Companies the value of the Immovables is the one
reported in the last available financial documents.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject is active since 1960
Unstable economic results mark the company's financial state of affairs.
yet with a positive result in the 2006 (r.o.e. 0,59%). Upward trend as to the
turnover in the last financial year (+20,85%).
The operating result in 2006 was positive (2,06%) and reflects the
field's average.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,42 increasing compared to last year
(0,36)
The company does not exceed in bank credits; payments average period is instead
slightly high (94,93 gg.) but lower than the field average.
The 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 |
10.008.905 |
filed balance sheet |
|
Profit (Loss) for the period |
34.627 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
8.282.000 |
filed balance sheet |
|
Profit (Loss) for the period |
15.000 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
7.759.698 |
filed balance sheet |
|
Profit (Loss) for the period |
-653.476 |
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 ) |
|
|
9.604.612 |
9.712.000 |
|
. Intangible assets |
|
|
613.454 |
549.000 |
|
. Tangible fixed assets |
|
|
8.991.148 |
9.161.000 |
|
. . Land and buildings |
|
|
8.566.181 |
8.706.000 |
|
. . Plants, Equipm.and Machinery |
|
|
339.705 |
353.000 |
|
. Long-term Investments |
|
|
10 |
2.000 |
|
. . Financial loans |
|
|
10 |
2.000 |
|
. . Own shares |
|
|
|
|
|
CURRENT ASSETS |
|
|
5.339.584 |
4.748.000 |
|
. Stock |
|
|
2.208.814 |
1.694.000 |
|
. Credits |
|
|
2.960.134 |
2.741.000 |
|
. . Credits to clients |
|
|
1.215.312 |
957.000 |
|
. . Other credits |
|
|
1.744.822 |
1.784.000 |
|
. Short-term financial assets |
|
|
|
|
|
. Liquid assets |
|
|
170.636 |
313.000 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
26.786 |
26.000 |
|
TOTAL ASSETS |
|
|
14.970.982 |
14.486.000 |
|
. |
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
NET WORTH |
|
|
5.799.745 |
5.765.000 |
|
. Company's capital |
|
|
4.510.000 |
4.510.000 |
|
. Reserves |
|
|
1.255.118 |
1.240.000 |
|
. Reserves company's own shares |
|
|
|
|
|
. Retained profits (losses) |
|
|
|
|
|
. Profit (loss) |
|
|
34.627 |
15.000 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
|
|
|
SEVERANCE INDEMNITY FUND |
|
|
1.173.116 |
1.058.000 |
|
DEBTS |
|
|
7.998.121 |
7.661.000 |
|
. Financial M/L terms |
|
|
5.350.557 |
5.241.000 |
|
. . Financial M/L term banks |
|
|
3.709.578 |
3.830.000 |
|
. . Financial M/L bonds |
|
|
|
|
|
. . Other financial M/L debts |
|
|
1.640.979 |
1.411.000 |
|
. 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 |
|
|
1.759.905 |
1.577.000 |
|
. Sundry M/L debts |
|
|
|
|
|
. Sundry short-term debts |
|
|
887.659 |
843.000 |
|
ACCRUED EXPENSE |
|
|
|
2.000 |
|
TOTAL LIABILITIES |
|
|
14.970.982 |
14.486.000 |
|
. |
|
|
|
|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
|
|
|
OUTPUT VALUE |
|
|
10.433.402 |
8.825.000 |
|
. Revenues from sales/services |
|
|
10.008.905 |
8.282.000 |
|
. Change of stock (products) |
|
|
165.887 |
277.000 |
|
OPERATING EXPENSES |
|
|
10.123.543 |
8.343.000 |
|
. Purchasing expenses |
|
|
3.815.104 |
2.699.000 |
|
. Change of stock (raw material) |
|
|
-348.433 |
-38.000 |
|
. Expenses from services |
|
|
2.820.169 |
2.220.000 |
|
. Expenses from leasing |
|
|
36.353 |
66.000 |
|
. General expenses/sundry charges |
|
|
62.431 |
70.000 |
|
. Staff expenses |
|
|
3.186.871 |
2.796.000 |
|
. Depreciation/Devaluation costs |
|
|
551.048 |
530.000 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
-46.736 |
-179.000 |
|
. Financial charges |
|
|
-49.200 |
-184.000 |
|
. Financial revenues |
|
|
2.464 |
5.000 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
70.683 |
-6.000 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
333.806 |
297.000 |
|
TAX |
|
|
299.179 |
282.000 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
34.627 |
15.000 |
|
RATIOS |
Item |
O.V. |
O.V. |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
l |
1,28 |
1,24 |
2,08 |
|
Net Short-term indebtedness |
Units |
- 1 |
l |
0,42 |
0,36 |
2,53 |
|
Current ratio |
Units |
=> 1 |
l |
2,01 |
1,96 |
1,34 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
l |
1,18 |
1,26 |
0,91 |
|
Return on Sales |
% |
|
l |
5,85 |
6,58 |
2,28 |
|
Average stock waiting period |
dd |
|
l |
79,41 |
73,62 |
81,97 |
|
Credits to clients average term |
dd |
|
l |
43,70 |
41,58 |
129,24 |
|
Debts to suppliers average term |
dd |
|
l |
94,93 |
113,86 |
140,98 |
|
Net financial revenues/ charges incidence |
% |
|
l |
- 0,46 |
- 2,16 |
- 1,01 |
|
Labour cost incidence |
% |
|
l |
31,84 |
33,75 |
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:
451.900 .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 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 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%)