MIRA INFORM REPORT

 

 

Report Date :

01.08.2011

 

IDENTIFICATION DETAILS

 

Name :

EURICOM S.P.A.

 

 

Registered Office :

 

Via Stazione,     119  

27020- Valle Lomellina(PV)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

23.07.1980

 

 

Com. Reg. No.:

PV177-8258 since 19/02/1996

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Mixed cultivation of cereals, grain legumes and oilseeds

 

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

 

Status :

Satisfactory

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Italy

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


company Name and address

 

Euricom S.p.a.

 

Via               Stazione,   119

 

27020 - Valle Lomellina (PV) -IT-

 

 

Summary

 

Fiscal Code

:

05897170154

Legal Form

:

Joint stock company

start of Activities

:

23/07/1980

Equity

:

Over 2.582.254 Eur

Turnover Range

:

over 129.114.224 Eur

Number of Employees

:

from 16 to 25

 

 

Activity

 

Mixed cultivation of cereals, grain legumes and oilseeds.

Cultivation of rice

Manufacture of irradiation, electromedical and electrotherapeutic eq

uipment

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 05897170154

 

Foreign Trade Reg. no. : PV010997 since 01/04/1993

 

Chamber of Commerce no. : 1049892 of Milano

 

Chamber of Commerce no. : 242141 of Mantova

 

Chamber of Commerce no. : 191665 of Pavia since 17/03/1993

 

Chamber of Commerce no. : 128107 of Vercelli since 15/10/1980

 

Firms' Register : PV177-8258 since 19/02/1996

 

V.A.T. Code : 01514430188

 

Establishment date

: 23/07/1980

Start of Activities

: 23/07/1980

Legal duration

: 31/12/2100

Nominal Capital

: 8.492.040

Eur

Subscribed Capital

: 8.492.040

Eur

Paid up Capital

: 8.492.040

Eur

 

Members

 

 

Francese

Mario

 

 

 

Born in Vercelli

(VC)

on 30/08/1951

- Fiscal Code : FRNMRA51M30L750K

 

 

 

Residence :

Corso

San Martino

, 6

- 13100

Vercelli

(VC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

29/06/2009

 

 

 

 

No Protests registered

 

 

Dazza

Oreste

 

 

 

Born in Monza

(MB)

on 17/02/1943

- Fiscal Code : DZZRST43B17F704I

 

 

 

Residence :

Corso

Milano

, 30

- 20052

Monza

(MB)

- IT -

 

Position

Since

Shares Amount

% Ownership

 

10/01/2011

 

 

 

 

Sempio

Francesco

 

 

 

Born in Pavia

(PV)

on 31/03/1943

- Fiscal Code : SMPFNC43C31G388K

 

 

 

Residence :

Piazza

Costituzione

, 5

- 27035

Mede

(PV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

02/02/2001

 

 

 

 

No Protests registered

 

 

Gamalerio

Roberto

 

 

 

Born in Mortara

(PV)

on 09/01/1964

- Fiscal Code : GMLRRT64A09F754W

 

 

 

Residence :

Piazza

Della Vittoria

, 1

- 27034

Galliavola

(PV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

23/03/2009

 

 

 

 

No Protests registered

 

 

Malvisini

Massimo

 

 

 

Born in Mede

(PV)

on 23/12/1970

- Fiscal Code : MLVMSM70T23F080A

 

 

 

Residence :

Strada

Lambertenga

, 3

- 27035

Mede

(PV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

21/06/2007

 

 

 

 

No Protests registered

 

 

Inzaghi

Giuseppe

 

 

 

Born in Stradella

(PV)

on 16/11/1944

- Fiscal Code : NZGGPP44S16I968X

 

 

 

Residence :

Via

Carcano

, 8

- 27100

Pavia

(PV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

23/05/2005

 

 

 

 

No Protests registered

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

16/05/2002

 

 

 

 

No Protests registered

 

 

Euricom Hellas S.a.

 

 

 

 

Position

Since

Shares Amount

% Ownership

Procurator

30/01/2003

 

 

 

 

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 have holded positions.

 

 

FRANCESE

MARIO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

CORTICELLA MOLINI E PASTIFICI - S.P.A.

Bologna (BO) - IT -

00302260377

Director

Withdrawn

Registered

CURTI S.R.L.

Valle Lomellina (PV) - IT -

01577610189

Managing Director

Active

Registered

EUROTRANSPORT S.R.L.

Ferrera Erbognone (PV) - IT -

00457040186

Sole Director

Withdrawn

Registered

RISERIA CAMPIVERDI DANTE S.R.L.

Valle Lomellina (PV) - IT -

00041370388

Managing Director

Withdrawn

Ceased

RISERIA CAMPIVERDI DANTE S.R.L.

Valle Lomellina (PV) - IT -

00041370388

Board Chairman

Withdrawn

Ceased

SOCIETA' DI MACINAZIONE MOLINI CERTOSA - SOCIETA' PER AZIONI

Certosa di Pavia (PV) - IT -

00858730153

Director

Withdrawn

Registered

 

 

SEMPIO

FRANCESCO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

AGRICOLA BORAGNO S.R.L.

Lomello (PV) - IT -

00259100188

Sole Director

Active

Registered

AGRICOLA CASTELLO - S.R.L.

Lomello (PV) - IT -

00640260188

Sole Director

Withdrawn

Registered

AZIENDA AGRICOLA S. GIOVANNI S.R.L.

Lomello (PV) - IT -

01254570185

Sole Director

Active

Registered

AZIENDA AGRICOLA TENUTA DI PONENTE S.R.L.

Lomello (PV) - IT -

01281950186

Sole Director

Active

Registered

CEREAL CONSULT S.A.S. DI SEMPIO BRUNO DANIELE E C.

Lomello (PV) - IT -

01619200189

Limited Partner

Active

Registered

COOPERATIVA LOMELLINA CEREALICOLTORI SOC. COOP.

Lomello (PV) - IT -

00821000189

Director

Active

Registered

DIALCO S.R.L. (IN LIQUIDAZIONE)

Cremona (CR) - IT -

00295040190

Liquidator

Withdrawn

Ceased

EURICO SOCIETA' A RESPONSABILITA' LIMITATA

Tromello (PV) - IT -

00183350180

Director

Withdrawn

Ceased

EUROPA AGRICOLA SOCIETA' AGRICOLA S.R.L.

Castello d'Agogna (PV) - IT -

00491450185

Sole Director

Active

Registered

MEC MAIS SOC. COOP.

Lomello (PV) - IT -

00965120181

Director

Active

Registered

NUOVA PASTA COMBATTENTI KIM S.P.A.

Corte De' Frati (CR) - IT -

00294920194

Chairman

Withdrawn

Ceased

PASTA COMBATTENTI S.P.A.- SOCIETA' PER AZIONI CON UNICO SOCIO - IN LIQUIDAZIONE

Corte De' Frati (CR) - IT -

09950930157

Managing Director

Withdrawn

Ceased

PASTA COMBATTENTI S.P.A.- SOCIETA' PER AZIONI CON UNICO SOCIO - IN LIQUIDAZIONE

Corte De' Frati (CR) - IT -

09950930157

Board Chairman

Withdrawn

Ceased

RISERIA AGRICOLA CONSORTI SEMPIO DI SEMPIO GEOM.ISIDORO E C.

Galliavola (PV) - IT -

 

Co-Partner

Withdrawn

Ceased

RISERIA CAMPIVERDI DANTE S.R.L.

Valle Lomellina (PV) - IT -

00041370388

Procurator

Withdrawn

Ceased

RISERIA CARLO PIGINO E FIGLIO - S.R.L.

Palazzolo Vercellese (VC) - IT -

00162330021

Attorney with special power

Active

Registered

RISO TICINO SOC. COOP.

Lomello (PV) - IT -

00297510182

Director

Active

Registered

SOCIETA' CONSORTILE SALA CONTRATTAZIONE MERCI DI MORTARA E LOMELLINA R.L.

Mortara (PV) - IT -

01555340189

Director

Withdrawn

Registered

SOCIETA' DI MACINAZIONE MOLINI CERTOSA - SOCIETA' PER AZIONI

Certosa di Pavia (PV) - IT -

00858730153

Managing Director

Withdrawn

Registered

SOCIETA' INDUSTRIALE DI SVILUPPO SRL

Milano (MI) - IT -

05102640157

Board Chairman

Withdrawn

Ceased

TECNOGROUP BECO S.P.A.

Milano (MI) - IT -

00123230195

Vice-Chairman

Withdrawn

Ceased

 

 

GAMALERIO

ROBERTO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

CO.RI.SO S.R.L.

Confienza (PV) - IT -

01458680186

Procurator

Active

Registered

CURTI S.R.L.

Valle Lomellina (PV) - IT -

01577610189

Attorney with special power

Active

Registered

GAMALERIO PAOLO E ROBERTO SOCIETA' AGRICOLA

Galliavola (PV) - IT -

00301380184

Partner

Active

Registered

GAMALERIO ROBERTO

Galliavola (PV) - IT -

GMLRRT64A09F754W

Proprietor

Withdrawn

Ceased

GAMALERIO ROBERTO

Galliavola (PV) - IT -

GMLRRT64A09F754W

Proprietor

Active

Registered

NOVA MAIS S.R.L.

Ferrera Erbognone (PV) - IT -

01636660183

Procurator

Active

Registered

 

 

MALVISINI

MASSIMO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

REMY ITALIA S.P.A.

Confienza (PV) - IT -

02079200180

Director

Active

Registered

 

 

INZAGHI

GIUSEPPE

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

CEREAL CONSULT S.A.S. DI SEMPIO BRUNO DANIELE E C.

Lomello (PV) - IT -

01619200189

Attorney with special power

Active

Registered

CO.RI.SO S.R.L.

Confienza (PV) - IT -

01458680186

Attorney with special power

Active

Registered

CORTICELLA MOLINI E PASTIFICI - S.P.A.

Bologna (BO) - IT -

00302260377

Attorney with special power

Withdrawn

Registered

CURTI S.R.L.

Valle Lomellina (PV) - IT -

01577610189

Attorney with special power

Withdrawn

Registered

ECO - DELPHI S.R.L.

Binasco (MI) - IT -

06971180010

Procurator

Active

Registered

EUROTRANSPORT S.R.L.

Ferrera Erbognone (PV) - IT -

00457040186

Attorney with special power

Active

Registered

NOVA MAIS S.R.L.

Ferrera Erbognone (PV) - IT -

01636660183

Attorney with special power

Active

Registered

REMY ITALIA S.P.A.

Confienza (PV) - IT -

02079200180

Attorney with special power

Active

Registered

SOCIETA' AGRICOLA F.LLI SEMPIO ISIDORO E BRUNO S.S.

Lomello (PV) - IT -

01543020182

Attorney with special power

Active

Registered

 

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.


Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Nervi Giuseppe

Palazzolo Vercellese - IT -

NRVGPP30M26G266P

544.000 .Eur

6,40

Sempio Francesco

Mede - IT -

SMPFNC43C31G388K

5.066.440 .Eur

59,67

Ricefin S.r.l.

Milano - IT -

05242660966

2.881.600 .Eur

33,93

 

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Societa' Di Macinazione Molini Certosa - Societa' Per Azioni

Certosa di Pavia - IT -

00858730153

1.243.972 .Eur

99,99

 

 

Active

CEREALRISI SOCIETA PER AZIONI

Roma - IT -

05939310586

 

 

 

 

Active

Ambromobiliare - Societa' Ambrosiana Di Partecipazioni E Gestioni Mobiliari S.p.

Milano - IT -

04738500968

100.000 .Eur

6,53

 

 

Active

Mangimi del Dott. Sacchi S.r.l.

Ottobiano (PV) - IT -

01124680180

28.080 .Eur

60,00

 

 

Active

Agroeuropea Srl

Milano - IT -

01083460392

10.200 .Eur

100,00

 

 

Ceased

Co.ri.so S.r.l.

Confienza - IT -

01458680186

775.000 .Eur

100,00

 

 

Active

Riseria Carlo Pigino E Figlio - S.r.l.

Palazzolo Vercellese - IT -

00162330021

12.948 .Eur

83,00

 

 

Active

Eurotransport S.r.l.

Ferrera Erbognone - IT -

00457040186

41.310 .Eur

90,00

 

 

Active

Riseria Campiverdi Dante S.r.l.

Valle Lomellina - IT -

00041370388

9.256 .Eur

89,00

 

 

Ceased

Societa' Consortile Sala Contrattazione Merci Di Mortara E Lomellina R.l.

Mortara - IT -

01555340189

25.963 .Eur

2,94

 

 

Active

Curti S.r.l.

Valle Lomellina - IT -

01577610189

 

100,00

 

 

Active

 

Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

 

 

 

 

 

Via

Stazione

, 119

- 27020

- Valle Lomellina

(PV)

- IT -

 

 

 

 

PHONE

: 0384/797649

 

 

 

 

PHONE

: 0384/797657

 

 

 

 

PHONE

: 0161/224411

 

 

 

 

FAX

: 0161/280031

 

-

Secondary office

 

 

 

 

 

 

Calle 5ta A

, 4404 Loc. MIRAMAR PLAYA

- Havana

(EE)

- CU -

 

-

Branch

(Store )

since 29/04/2009

 

 

 

 

 

Via

Stazione

, 113

- 27020

- Valle Lomellina

(PV)

- IT -

 

 

 

 

PHONE

: 0161/224411

 

-

Branch

(Factory )

since 01/09/2010

 

 

 

 

 

Via

Del Chioso

, 2

- 27020

- Valeggio

(PV)

- IT -

 

-

Branch

(Store )

since 01/09/2010

 

 

 

 

 

Via

S. Giovanni D'oria

, 6

- 27030

- Ottobiano

(PV)

- IT -

 

-

Branch

(Store )

since 01/09/2010

 

 

 

 

 

Via

Brede

, 3

- 46010

- San Martino Dall'Argine

(MN)

- IT -

 

-

Branch

(Warehouse )

since 10/01/2004

 

 

 

 

 

Via

Xx Settembre

, 14/BIS

- 13040

- Buronzo

(VC)

- IT -

 

-

Branch

(Sales office )

since 15/07/1989

 

 

 

 

 

Via

Bassano

, 13

- 13100

- Vercelli

(VC)

- IT -

 

 

 

 

Employees

: 19

 

Fittings and Equipment for a value of 350.000

Eur

 

Stocks for a value of 2.860.000

Eur

 

Trade organization: direct or by agents.

Sales area on a national scale.

 

 

Import comes generally from the following nations:

- Cuba

 

- Francia

 

- Germania

 

- Gran Bretagna

 

- Spagna

 

- Finlandia

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Trotter

Alessandro

 

 

 

Born in Vimercate

on 09/06/1940

- Fiscal Code : TRTLSN40H09M052V

 

 

 

Residence :

Piazzale

Luigi Cadorna

, 6

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Taglioretti

Marco

 

 

 

Born in Milano

on 12/01/1960

- Fiscal Code : TGLMRC60A12F205N

 

 

 

Residence :

Via

Battisti

, 2

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Venegoni

Fabio Maria

 

 

 

Born in Magenta

on 05/05/1963

- Fiscal Code : VNGFMR63E05E801L

 

 

 

Residence :

Piazzale

Cadorna Luigi

, 6

- 20123

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Bosi

Maria Elena

 

 

 

Born in Lucca

on 09/02/1970

- Fiscal Code : BSOMLN70B49E715F

 

 

 

Residence :

Via

Nazario Sauro

, 118

- 55100

Lucca

(LU)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Ojeda Lopez

Jose' Manuel

 

 

 

Born in Almeria

on 31/12/1957

 

 

 

Residence :

C/hernan Cortes 28 Pta 4 46004

Valencia

- ES -

 

Ex-Postions

Attorney with special power

 

 

Euricom Hellas S.a.

 

 

 

 

Ex-Postions

Procurator

 

 

Mori'

Paola

 

 

 

Born in COMO

on 24/10/1969

- Fiscal Code : MROPLA69R64C933P

 

 

 

Residence :

Via

Fittavolo

, 9

- 22020

San Fermo della Battaglia

(CO)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

RUZZI

MARIA LUISA

 

 

 

Born in TROMELLO

on 28/11/1951

- Fiscal Code : RZZMLS51S68L449E

 

 

 

Residence :

Via

COLOMBO

, 16

- 27020

Tromello

(PV)

- IT -

 

Ex-Postions

Procurator

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

Project of merging by taking over of

 

 

 

Mangimi del Dott. Sacchi S.r.l.

 

 

 

Cascina San Giovanni

, 27030

, Ottobiano (PV)

- IT -

 

 

 

Fiscal Code: 01124680180

 

 

 

Date

Merging/splitting-up project :

29/06/2007

 

 

The firm absorbed by merging of

 

 

 

Mangimi del Dott. Sacchi S.r.l.

 

 

 

Cascina San Giovanni

, 27030

, Ottobiano (PV)

- IT -

 

 

 

Fiscal Code: 01124680180

 

 

 

Date

:

06/09/2007

 

 

The firm absorbed by merging of

 

 

 

Mangimi del Dott. Sacchi S.r.l.

 

 

 

Cascina San Giovanni

, 27030

, Ottobiano (PV)

- IT -

 

 

 

Fiscal Code: 01124680180

 

 

 

Date

:

29/11/2007

 

 

Project of merging by taking over of

 

 

 

Agricola Castello - S.r.l.

 

 

 

Cascina

Boragno

, 27034

, Lomello

(PV)

- IT -

 

 

 

Fiscal Code: 00640260188

 

 

 

Date

Merging/splitting-up project :

25/11/2008

 

 

The firm absorbed by merging of

 

 

 

Agricola Castello - S.r.l.

 

 

 

Cascina

Boragno

, 27034

, Lomello

(PV)

- IT -

 

 

 

Fiscal Code: 00640260188

 

 

 

Date

:

18/12/2008

 

 

The firm absorbed by merging of

 

 

 

Agricola Castello - S.r.l.

 

 

 

Cascina

Boragno

, 27034

, Lomello

(PV)

- IT -

 

 

 

Fiscal Code: 00640260188

 

 

 

Date

:

01/04/2009

 

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.

 

Immovables *

 

*Subject to survey.

 

Immovable Type

Value

Real estates

3.607.405 - Eur

 

NB.: For Capital Companies the value of the Immovables is the one reported in the latest available financial documents.

 

Financial and Economical Analysis

 

Subject is active since 1980

The economic-financial analysis has been made on the base of the b/s of the latests three years.

During the last years, it achieved profits (r.o.e. 10,37% on 2009)

The operating result was positive in the last financial year (2,82%) and in line with the sector's average.

The amount of the operating result is equal to Eur. 3.223.280 with a -61,37% fall as against the year 2008.

The G.O.M. amounted to Eur. 4.048.506 with a -54,87% fall.

The analysis shows a fair financial position as the indebtedness volume is acceptable (3,09) and decreasing as against 2008.

With regard to equity capital, an amount of Eur. 25.632.960 is registered. with a growth of 28,66% in 2009.

Total indebtedness was equal to Eur. 87.222.240 (Eur. 5.814.719 was the value of m/l term debts) , with no sensible variation.

Bank borrowings' volume is slightly high but the recourse to suppliers' credit is modest below the sector's average.

Liquidity is not at its best.

As far as the collection of credit goes, the average is high (112,09 days). but in line with the sector.

2009 financial year closed with a cash flow of Eur. 3.482.289

Labour cost amounts to Eur. 1.038.792, with a 0,7% incidence on production costs. , whereas the incidence on sales revenues is of 0,69%.

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

151.192.939

Profit (Loss) for the period

2.657.063

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

197.134.717

Profit (Loss) for the period

3.346.445

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

122.698.153

Profit (Loss) for the period

489.926

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

146.172.228

Profit (Loss) for the period

18.537

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

98.731.361

Profit (Loss) for the period

631.292

 

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

 

Years

2009

2008

2007

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

 

 

 

. . Research,develop. and advert.expens.

 

 

4.875

. . Industrial patent rights

1.467

2.873

7.981

. . Concessions,licenses,trademarks,etc.

9.819

53.538

17.781

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

9.460

 

. . Other intangible fixed assets

23.936

2.929

7.221

. Total Intangible Fixed Assets

35.222

68.800

37.858

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

16.985.021

 

3.607.405

. . Plant and machinery

352.962

 

758.887

. . Industrial and commercial equipment

361

 

4.824

. . Other assets

160.153

 

64.167

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

17.498.497

13.237.730

4.435.283

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

24.267.238

24.921.953

24.523.184

. . . Equity invest. in subsidiary companies

13.984.558

13.621.011

13.606.242

. . . Equity invest. in associated companies

3.609.910

3.609.910

3.609.910

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

6.672.770

7.691.032

7.307.032

. . Financial receivables

55.132

49.032

37.581

. . . . Within 12 months

55.132

 

 

. . . . Beyond 12 months

 

49.032

37.581

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

55.132

49.032

37.581

. . . . Within 12 months

55.132

 

 

. . . . Beyond 12 months

 

49.032

37.581

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

24.322.370

24.970.985

24.560.765

Total fixed assets

41.856.089

38.277.515

29.033.906

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

894.631

4.068.539

5.575.803

. . Work in progress and semimanufactured

 

 

7.784

. . Work in progress on order

 

 

 

. . Finished goods

1.961.562

2.246.588

907.765

. . Advance payments

 

 

49.885

. Total Inventories

2.856.193

6.315.127

6.541.237

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

60.738.212

34.345.421

20.184.665

. . Beyond 12 months

 

15.494

60.683

. . Trade receivables

47.075.710

21.853.450

10.494.191

. . . . Within 12 months

47.075.710

21.853.450

10.494.191

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

9.141.931

9.099.426

5.245.305

. . . . Within 12 months

9.141.931

9.099.426

5.245.305

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

2.612.385

2.368.087

1.852.388

. . . . Within 12 months

2.612.385

2.368.087

1.852.388

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

238.424

73.311

91.340

. . . . Within 12 months

238.424

73.311

91.340

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

1.669.762

966.641

2.562.124

. . . . Within 12 months

1.669.762

951.147

2.501.441

. . . . Beyond 12 months

 

15.494

60.683

. Total Credits not held as fixed assets

60.738.212

34.360.915

20.245.348

. FINANCIAL ASSETS

 

 

 

. . Equity invest. in subsidiary comp.

 

 

 

. . Equity invest. in associated companies

 

 

 

. . Equity invest. in holding companies

 

 

 

. . Other equity investments

 

 

 

. . Own shares

 

 

 

. . . Total nominale value

 

 

 

. . Other securities

6.548.736

30.674.262

24.862.049

. Total Financial Assets

6.548.736

30.674.262

24.862.049

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

2.179.021

1.852.548

12.300.726

. . Checks

 

 

 

. . Banknotes and coins

14.823

7.587

13.853

. Total Liquid funds

2.193.844

1.860.135

12.314.579

Total current assets

72.336.985

73.210.439

63.963.213

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

211.225

343.608

356.495

Total adjustments accounts

211.225

343.608

356.495

TOTAL ASSETS

114.404.299

111.831.562

93.353.614

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

8.492.040

7.788.040

7.204.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

10.385.771

6.271.058

777.683

. Legal reserve

606.150

438.827

414.331

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

3.491.936

2.077.518

1.612.092

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

2.657.063

3.346.445

489.926

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

25.632.960

19.921.888

10.498.032

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

2.014

642

329

. . Taxation fund, also differed

273.020

280.251

285.096

. . Other funds

4.673

4.673

4.673

Total Reserves for Risks and Charges

279.707

285.566

290.098

Employee termination indemnities

315.613

305.207

260.191

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

81.407.521

79.221.762

71.504.720

. . . . Beyond 12 months

5.814.719

9.804.148

10.328.546

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

3.111.301

1.979.701

3.098.741

. . . . Within 12 months

3.111.301

 

 

. . . . Beyond 12 months

 

1.979.701

3.098.741

. . Due to banks

58.337.588

59.141.782

62.095.897

. . . . Within 12 months

52.522.869

51.317.335

54.866.092

. . . . Beyond 12 months

5.814.719

7.824.447

7.229.805

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

31.880

253.379

16.000

. . . . Within 12 months

31.880

253.379

16.000

. . . . Beyond 12 months

 

 

 

. . Trade payables

14.952.482

19.369.421

8.743.056

. . . . Within 12 months

14.952.482

19.369.421

8.743.056

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

8.944.307

4.069.627

6.028.091

. . . . Within 12 months

8.944.307

4.069.627

6.028.091

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

1.669.441

3.897.961

1.691.770

. . . . Within 12 months

1.669.441

3.897.961

1.691.770

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

42.356

37.550

34.270

. . . . Within 12 months

42.356

37.550

34.270

. . . . Beyond 12 months

 

 

 

. . Other payables

132.885

276.489

125.441

. . . . Within 12 months

132.885

276.489

125.441

. . . . Beyond 12 months

 

 

 

Total accounts payable

87.222.240

89.025.910

81.833.266

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

953.779

2.292.991

472.027

Total adjustment accounts

953.779

2.292.991

472.027

TOTAL LIABILITIES

114.404.299

111.831.562

93.353.614

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

151.192.939

197.134.717

122.698.153

. Changes in work in progress

-285.026

1.331.039

-320.927

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

1.421.725

844.297

850.851

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

1.421.725

844.297

850.851

Total value of production

152.329.638

199.310.053

123.228.077

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

129.743.923

167.514.495

104.569.253

. Services received

13.408.615

19.380.941

13.104.573

. Leases and rentals

576.340

683.529

649.928

. Payroll and related costs

1.038.792

974.402

937.773

. . Wages and salaries

759.790

702.687

670.430

. . Social security contributions

216.906

208.534

209.060

. . Employee termination indemnities

47.115

50.276

51.004

. . Pension and similar

3.985

 

 

. . Other costs

10.996

12.905

7.279

. Amortization and depreciation

825.226

627.090

413.357

. . Amortization of intangible fixed assets

14.528

29.573

32.354

. . Amortization of tangible fixed assets

547.978

459.867

356.760

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

262.720

137.650

24.243

. Changes in raw materials

3.173.908

1.507.264

1.166.254

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

339.554

277.674

305.120

Total production costs

149.106.358

190.965.395

121.146.258

Diff. between value and cost of product.

3.223.280

8.344.658

2.081.819

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

110.000

6.684

13.020

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

3.939.182

2.776.522

3.547.916

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

 

. . Financ.income from secur. cur.assets

 

 

31.083

. . Financ.income other than the above

3.939.182

2.776.522

3.516.833

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-2.911.370

-5.154.893

-4.354.542

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

-112.627

-147.345

 

Total financial income and expense

1.137.812

-2.371.687

-793.606

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

. . Of financ.fixed assets not repres.E.I.

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

-655.723

-294.737

 

. . Of equity investments

-655.723

-294.737

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

-655.723

-294.737

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

532.218

263.561

62.724

. . Gains on disposals

332.288

30

 

. . Other extraordinary income

199.930

263.531

62.724

. Extraordinary expense

-87.830

-383.860

-59.270

. . Losses on disposals

-33.159

-459

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-54.671

-383.401

-59.270

Total extraordinary income and expense

444.388

-120.299

3.454

Results before income taxes

4.149.757

5.557.935

1.291.667

. Taxes on current income

1.492.694

2.211.490

801.741

. . current taxes

1.665.037

2.198.306

1.087.766

. . differed taxes(anticip.)

172.343

13.184

-286.025

. Net income for the period

2.657.063

3.346.445

489.926

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

2.657.063

3.346.445

489.926

 

 

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

0,37

0,34

0,31

0,43

Elasticity Ratio

Units

0,63

0,65

0,69

0,55

Availability of stock

Units

0,02

0,06

0,07

0,11

Total Liquidity Ratio

Units

0,61

0,60

0,62

0,33

Quick Ratio

Units

0,08

0,29

0,40

0,01

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

3,09

3,88

5,64

2,55

Self Financing Ratio

Units

0,22

0,18

0,11

0,19

Capital protection Ratio

Units

0,57

0,44

0,27

0,65

Liabilities consolidation quotient

Units

0,08

0,13

0,15

0,39

Financing

Units

3,40

4,47

7,80

3,90

Permanent Indebtedness Ratio

Units

0,28

0,27

0,23

0,48

M/L term Debts Ratio

Units

0,05

0,09

0,11

0,17

Net Financial Indebtedness Ratio

Units

2,31

2,97

5,04

1,17

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

0,76

0,78

0,73

1,06

Current ratio

Units

0,89

0,92

0,89

1,11

Acid Test Ratio-Liquidity Ratio

Units

0,85

0,84

0,80

0,77

Structure's primary quotient

Units

0,61

0,52

0,36

0,56

Treasury's primary quotient

Units

0,11

0,41

0,52

0,04

Rate of indebtedness ( Leverage )

%

446,32

561,35

889,25

509,15

Current Capital ( net )

Value

-9.070.536

-6.011.323

-7.541.507

128.615

RETURN

 

 

 

 

 

Return on Sales

%

2,30

2,02

0,74

3,91

Return on Equity - Net- ( R.O.E. )

%

10,37

16,80

4,67

1,55

Return on Equity - Gross - ( R.O.E. )

%

16,19

27,90

12,30

5,40

Return on Investment ( R.O.I. )

%

2,82

7,46

2,23

2,39

Return/ Sales

%

2,13

4,23

1,70

3,53

Extra Management revenues/charges incid.

%

82,43

40,10

23,53

14,96

Cash Flow

Value

3.482.289

3.973.535

903.283

101.992

Operating Profit

Value

3.223.280

8.344.658

2.081.819

74.672

Gross Operating Margin

Value

4.048.506

8.971.748

2.495.176

184.908

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

112,09

39,91

30,79

114,66

Debts to suppliers average term

Days

59,85

44,98

44,94

152,92

Average stock waiting period

Days

6,80

11,53

19,19

66,06

Rate of capital employed return ( Turnover )

Units

1,32

1,76

1,31

0,69

Rate of stock return

Units

52,94

31,22

18,76

5,05

Labour cost incidence

%

0,69

0,49

0,76

14,84

Net financial revenues/ charges incidence

%

0,75

- 1,20

- 0,65

- 1,80

Labour cost on purchasing expenses

%

0,70

0,51

0,77

13,76

Short-term financing charges

%

3,34

5,79

5,32

2,51

Capital on hand

%

75,67

56,73

76,08

144,62

Sales pro employee

Value

5.815.113

10.375.511

5.842.769

213.408

Labour cost pro employee

Value

39.953

51.284

44.655

31.819

 


Market / Territory Data

 

Population living in the province

:

510.505

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 564 significant companies.

 

The companies cash their credits on an average of 114 dd.

The average duration of suppliers debts is about 152 dd.

The sector's profitability is on an average of 3,91%.

The labour cost affects the turnover in the measure of 14,84%.

Goods are held in stock in a range of 66 dd.

The difference between the sales volume and the resources used to realize it is about 0,69.

The employees costs represent the 13,76% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered moderately risky.

In the region 50.886 protested subjects are found; in the province they count to 2.343.

The insolvency index for the region is 0,55, , while for the province it is 0,46.

Total Bankrupt companies in the province : 986.

Total Bankrupt companies in the region : 39.612.

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.44.16

UK Pound

1

Rs.72.10

Euro

1

Rs.63.10

 

 

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

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.