MIRA INFORM REPORT
|
Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
A. E P. BIANCHI ABBIGLIAMENTO UOMO S.R.L. |
|
|
|
|
Registered Office : |
Via |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
10.11.1993 |
|
|
|
|
Com. Reg. No.: |
CR036-9139 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of apparel (except fur apparel) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
90.000 Eur |
|
Status : |
Good |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company
name & address
A. e P. Bianchi Abbigliamento Uomo s.r.l.
Via
26100 -
Summary
|
Fiscal Code |
: |
01043590197 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/12/1993 |
|
Equity |
: |
Over 2.582.254 Eur |
|
|
: |
5.000.000/6.500.000 Eur |
|
Number of Employees |
: |
from 1 to 5 |
Credit
Analysis
|
Credit Opinion |
: |
90.000 - Eur |
Activity
Manufacture of apparel (except fur apparel)
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01043590197 |
|
Foreign Trade Reg. no. : CR007382 since
21/01/1994 |
|
Foreign Trade Reg. no. : 7382 of |
|
Foreign Trade Reg. no. : 007382 of |
|
Chamber of Commerce no. : 130536 of |
|
Firms' Register : CR036-9139 since
19/02/1996 |
|
V.A.T. Code : 01043590197 |
|
Establishment date |
: 10/11/1993 |
|
|
Start of Activities |
: 15/12/1993 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 46.800 |
Eur |
|
Subscribed Capital |
: 46.800 |
Eur |
|
Paid up Capital |
: 46.800 |
Eur |
Members
|
|
Gaboardi |
Armanda |
|
|
|
Born in |
(CR) |
on 23/03/1945 |
- Fiscal Code : GBRRND45C63D150B |
|
|
|
Residence : |
Via |
|
, 94 |
- 26100 |
|
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2009 |
|
|
|
|
No Protests
registered |
|
|
Bianchi |
Giovanni |
|
|
|
Born in |
(CR) |
on 21/10/1937 |
- Fiscal Code : BNCGNN37R21D150M |
|
|
|
Residence : |
Via |
|
, 94 |
- 26100 |
|
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2009 |
|
|
|
|
No Protests
registered |
|
|
Bianchi |
Pierluigi |
|
|
|
Born in |
(CR) |
on 31/10/1969 |
- Fiscal Code : BNCPLG69R31D150J |
|
|
|
Residence : |
Via |
Oglio |
, 9 |
- 26100 |
|
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2009 |
|
|
|
Board Chairman |
10/07/2009 |
|
|
|
|
No Protests
registered |
|
|
Bianchi |
Andrea |
|
|
|
Born in |
(CR) |
on 27/12/1972 |
- Fiscal Code : BNCNDR72T27D150M |
|
|
|
Residence : |
Via |
|
, 94 |
- 26100 |
|
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/2009 |
|
|
|
Assistant board Chairman |
10/07/2009 |
|
|
|
No Protests
registered |
Companies
connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which
members hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Capital
Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Gaboardi Armanda |
|
GBRRND45C63D150B |
936 .Eur |
2,00 |
|
Bianchi Giovanni |
|
BNCGNN37R21D150M |
936 .Eur |
2,00 |
|
Bianchi Pierluigi |
|
BNCPLG69R31D150J |
22.464 .Eur |
48,00 |
|
Bianchi Andrea |
|
BNCNDR72T27D150M |
22.464 .Eur |
48,00 |
Direct
Participations
The Company under review has no participations
in other Companies.
Firm's
location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
(Workshop ) |
|
|
|
|
|
Via |
|
, 96 |
- 26100 |
- |
(CR) |
- IT - |
|
|
|
|
PHONE |
: 0372/450257 |
|
|
|
|
Employees |
: 3 |
|
|
|
|
Out-workers |
: 30 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
15.000 |
Eur |
|
Stocks for a value of 360.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Gaboardi |
Armanda |
|
|
|
Born in |
on 23/03/1945 |
- Fiscal Code : GBRRND45C63D150B |
|
|
|
Residence : |
Via |
|
, 94 |
- 26100 |
|
(CR) |
- IT - |
|
Ex-Postions |
|
Assistant board Chairman |
|
|
Bianchi |
Giovanni |
|
|
|
Born in |
on 21/10/1937 |
- Fiscal Code : BNCGNN37R21D150M |
|
|
|
Residence : |
Via |
|
, 94 |
- 26100 |
|
(CR) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
|
|
Bianchi |
Pierluigi |
|
|
|
Born in |
on 31/10/1969 |
- Fiscal Code : BNCPLG69R31D150J |
|
|
|
Residence : |
Via |
Oglio |
, 9 |
- 26100 |
|
(CR) |
- IT - |
|
Ex-Postions |
|
Assistant board Chairman |
|
|
Bianchi |
Andrea |
|
|
|
Born in |
on 27/12/1972 |
- Fiscal Code : BNCNDR72T27D150M |
|
|
|
Residence : |
Via |
|
, 94 |
- 26100 |
|
(CR) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
Protests
Protests checking on the subject firm has
given a negative result.
Legal
Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial
and Economical Analysis
Company's starting of activities dates back
to 1993.
The analysis is based on the latest 3
balance sheets.
During the last years, it recorded positive
net results (r.o.e. 15,11% in 2009) with an increase in 2009 (+32,02%).
The operating result was positive in the last
financial year (11,92%) and reflects the field's average.
The amount of the operating result for the
year 2009 is of Eur. 590.085 increasing if compared to the yeart 2008.
The economic management produced a gross
operating margin of Eur. 626.845 with a more then 100% increase as opposed to
the preceding year.
The company has an excellent net worth if
compared to its debts, with a low indebtedness (0,67) which is yet rising if
compared to 2008.
Subject can manage an equity capital funds
for an amount of Eur. 2.621.584 on stable levels.
Total indebtedness amounts to Eur.
2.222.436, , rising as opposed to the previous year (+49,86%).
Moderate recourse to bank credit while the
exposure towards suppliers is rather high but lined up with the field's
average.
Liquidity is good (2,17)
Due from customers average term is high and
equal to 220,26 days. and higher than the average of the sector.
Eur. 432.955 is the value of cash flow
during the year 2009
In the last financial year labour cost was
of Eur. 68.607, with a 1,23% incidence on total costs of production. , whereas
1,1% is the incidence on sales revenues.
The financial charges are lower than the
financial incomes.
Financial
Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
6.224.384 |
|
Profit (Loss) for the period |
396.195 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
4.714.663 |
|
Profit (Loss) for the period |
145.194 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.546.265 |
|
Profit (Loss) for the period |
409.890 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.523.144 |
|
Profit (Loss) for the period |
319.225 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.879.364 |
|
Profit (Loss) for the period |
248.265 |
Balance
Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet
as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet as
at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2007 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value
Type |
as at 31/12/2009 |
as at 31/12/2008 |
as at 31/12/2007 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,03 |
0,04 |
0,04 |
0,14 |
|
Elasticity Ratio |
Units |
0,97 |
0,96 |
0,95 |
0,84 |
|
Availability of stock |
Units |
0,07 |
0,13 |
0,07 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,90 |
0,83 |
0,87 |
0,55 |
|
Quick Ratio |
Units |
0,09 |
0,06 |
0,05 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,67 |
0,56 |
0,56 |
3,56 |
|
Self Financing Ratio |
Units |
0,53 |
0,59 |
0,58 |
0,16 |
|
Capital protection Ratio |
Units |
0,83 |
0,91 |
0,78 |
0,64 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,00 |
0,18 |
|
Financing |
Units |
0,85 |
0,67 |
0,66 |
4,38 |
|
Permanent Indebtedness Ratio |
Units |
0,53 |
0,59 |
0,58 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
n.c. |
1,24 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
19,15 |
14,23 |
12,73 |
2,03 |
|
Current ratio |
Units |
2,17 |
2,46 |
2,43 |
1,22 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,00 |
2,12 |
2,24 |
0,85 |
|
Structure's primary quotient |
Units |
19,06 |
14,17 |
12,69 |
1,20 |
|
Treasury's primary quotient |
Units |
0,21 |
0,15 |
0,14 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
188,91 |
170,67 |
170,10 |
592,42 |
|
Current Capital ( net ) |
Value |
2.592.455 |
2.158.046 |
1.989.232 |
311.080 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
6,96 |
3,80 |
7,91 |
2,78 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,11 |
6,52 |
19,70 |
6,35 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
22,82 |
10,46 |
31,97 |
21,12 |
|
Return on Investment ( R.O.I. ) |
% |
11,92 |
5,67 |
18,90 |
5,13 |
|
Return/ Sales |
% |
9,48 |
4,57 |
12,06 |
4,26 |
|
Extra Management revenues/charges incid. |
% |
67,14 |
67,37 |
61,26 |
21,28 |
|
Cash Flow |
Value |
432.955 |
179.378 |
439.087 |
82.582 |
|
Operating Profit |
Value |
590.085 |
215.502 |
669.011 |
119.674 |
|
Gross Operating Margin |
Value |
626.845 |
249.686 |
698.358 |
186.659 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
220,26 |
184,30 |
188,10 |
129,13 |
|
Debts to suppliers average term |
Days |
137,57 |
107,73 |
100,00 |
149,76 |
|
Average stock waiting period |
Days |
20,84 |
38,30 |
17,42 |
63,21 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,26 |
1,24 |
1,56 |
1,20 |
|
Rate of stock return |
Units |
17,28 |
9,40 |
20,63 |
5,67 |
|
Labour cost incidence |
% |
1,10 |
1,13 |
0,64 |
13,42 |
|
Net financial revenues/ charges incidence |
% |
0,07 |
0,39 |
- 0,07 |
- 1,52 |
|
Labour cost on purchasing expenses |
% |
1,23 |
1,16 |
0,74 |
13,23 |
|
Short-term financing charges |
% |
0,02 |
n.c. |
0,72 |
2,86 |
|
Capital on hand |
% |
79,56 |
80,56 |
63,80 |
82,66 |
|
Sales pro employee |
Value |
3.112.192 |
4.714.663 |
5.546.265 |
230.252 |
|
Labour cost pro employee |
Value |
34.303 |
53.361 |
35.664 |
31.552 |
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:
90.000Eur.
Market
/ Territory Data
|
Population living in the province |
: |
346.168 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses 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 864
significant companies.
The companies cash their credits on an
average of 129 dd.
The average duration of suppliers debts is about
149 dd.
The sector's profitability is on an average
of 2,78%.
The labour cost affects the turnover in the
measure of 13,42%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and the
resources used to realize it is about 1,20.
The employees costs represent the 13,23% of
the production costs.
Statistical
Detrimental Data
The area is statistically considered lowly
risky.
In the region 50.886 protested subjects are
found; in the province they count to 1.205.
The insolvency index for the region is 0,55,
, while for the province it is 0,35.
Total Bankrupt companies in the province :
505.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.