MIRA
INFORM REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
BERTOLINI VINYLS AND RUBBER
S.R.L. |
|
|
|
|
Registered Office : |
Via Zago, 2/2, 40100, - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
27.10.2005 |
|
|
|
|
Com. Reg. No.: |
BO-2005-62203 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Chemical Products |
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 : |
180.000 - Eur |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
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
Bertolini Vinyls And Rubber s.r.l.
Via Zago, 2/2,
40100, - Bologna, (BO)-IT-
Summary
|
Fiscal Code |
: |
02596621207 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
27/10/2005 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
35.000.000/50.000.000 Eur |
|
Number of Employees |
: |
from 11 to 15 |
Credit Analysis
|
Credit Opinion |
: |
180.000 - Eur |
Highlights
The company was established on 27.10.2005 but at the early beginning it just
operated as holding company.
On 03.01.2006 it started the wholesale of chemical products.
Activity
Wholesale of chemical products
Wholesale of rude rubber, plastics in primary forms and
semi-finished
Legal Data
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 02596621207 |
|
Foreign Trade Reg. no. : BO053307 since 29/06/2007 |
|
Chamber of Commerce no. : 451912 of Bologna since
02/11/2005 |
|
Chamber of Commerce no. : 1854150 of Milano |
|
Chamber of Commerce no. : 188948 of Ravenna |
|
Firms' Register : BO-2005-62203 |
|
V.A.T. Code : 02596621207 |
|
Establishment date |
: 27/10/2005 |
|
|
Start of Activities |
: 27/10/2005 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 5.100.000 |
Eur |
|
Subscribed Capital |
: 3.600.000 |
Eur |
|
Paid up Capital |
: 3.600.000 |
Eur |
Members
|
Bertolini |
Giuseppe |
|
|
Born in Bologna |
(BO) |
on 15/03/1958 |
- Fiscal Code : BRTGPP58C15A944Z |
|
|
Residence : |
Via |
Dante |
, 12 |
- 40125 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/01/2007 |
|
|
|
Board Chairman |
05/01/2007 |
|
|
No Protests registered.
|
Bertolini |
Filippo |
|
Born in Bologna |
(BO) |
on 21/05/1988 |
- Fiscal Code : BRTFPP88E21A944W |
|
Residence : |
Via |
Bambaglioli |
, 13 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/01/2007 |
|
|
No Protests registered.
|
Breveglieri |
Claudia |
|
Born in Montepulciano |
(SI) |
on 06/07/1970 |
- Fiscal Code : BRVCLD70L46F592E |
|
Residence : |
Via |
Dante |
, 12 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
01/02/2008 |
|
|
No Protests registered.
|
Bertolini |
Nicola |
|
Born in Bologna |
(BO) |
on 15/11/1986 |
- Fiscal Code : BRTNCL86S15A944P |
|
Residence : |
Via |
Porta Di Castello |
, 6 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/01/2007 |
|
|
No Protests registered.
|
Bertolini |
Gustavo |
|
Born in Bologna |
(BO) |
on 05/12/1985 |
- Fiscal Code : BRTGTV85T05A944B |
|
Residence : |
Via |
Bambaglioli |
, 13 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/01/2007 |
|
|
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 have holded positions.
|
BERTOLINI |
GIUSEPPE |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BERTOLINI DIVISIONE CHIMICA S.P.A. |
Bologna (BO) - IT - |
03257720379 |
Director |
Withdrawn |
Ceased |
|
BERTOLINI DIVISIONE CHIMICA S.P.A. |
Bologna (BO) - IT - |
03257720379 |
Board Chairman |
Withdrawn |
Ceased |
|
BERTOLINI DIVISIONE*PLASTICA S.R.L. |
Bologna (BO) - IT - |
02394890376 |
Chairman |
Withdrawn |
Ceased |
|
BERTOLINI DIVISIONE*PLASTICA S.R.L. |
Bologna (BO) - IT - |
02394890376 |
Director |
Withdrawn |
Ceased |
|
BERTOLINI DIVISIONE*PLASTICA S.R.L. |
Bologna (BO) - IT - |
02394890376 |
Board Chairman |
Withdrawn |
Ceased |
|
BERTOLINI DOTT. GUSTAVO S.P.A. |
Bologna (BO) - IT - |
02548200373 |
Sole Director |
Withdrawn |
Ceased |
|
BERTOLINI FINANZIARIA S.P.A. |
Bologna (BO) - IT - |
02974051209 |
Director |
Active |
Registered |
|
BERTOLINI GIUSEPPE |
Bologna (BO) - IT - |
BRTGPP58C15A944Z |
Proprietor |
Withdrawn |
Ceased |
|
BERTOLINI S.P.A. |
Bologna (BO) - IT - |
03072240371 |
Director |
Withdrawn |
Registered |
|
BERTOLINI S.P.A. |
Bologna (BO) - IT - |
03072240371 |
Board Chairman |
Withdrawn |
Registered |
|
BI-CHIMICA S.R.L. |
Bologna (BO) - IT - |
02543960377 |
Director |
Withdrawn |
Registered |
|
BI-CHIMICA S.R.L. |
Bologna (BO) - IT - |
02543960377 |
Board Chairman |
Withdrawn |
Registered |
|
EUROCOMPOUND S.P.A. |
Fontevivo (PR) - IT - |
01774570343 |
Director |
Active |
Registered |
|
F.C.I. FRAGRANCE AND CHEMICAL INGREDIENTS S.R.L. |
Bologna (BO) - IT - |
02510101203 |
Sole Director |
Active |
Registered |
|
NEW CO 5 S.R.L. |
Bologna (BO) - IT - |
03034951206 |
Director |
Active |
Registered |
|
NIZH YUG ITALIA SOCIETA' PER AZIONI IN SIGLA NYI S.P.A. |
Bologna (BO) - IT - |
02576931204 |
Director |
Active |
Registered |
|
NIZH YUG ITALIA SOCIETA' PER AZIONI IN SIGLA NYI S.P.A. |
Bologna (BO) - IT - |
02576931204 |
Assistant board Chairman |
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 |
|
Bertolini Finanziaria S.p.a. |
Bologna - IT - |
02974051209 |
|
100,00 |
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 |
|
Bi-chimica S.r.l. |
Bologna - IT - |
02543960377 |
1.962.000 .Eur |
50,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
Legal and operative seat |
|
|
Via |
Zago |
, 2/2 |
- 40100 |
- Bologna |
(BO) |
- IT - |
|
PHONE |
: 051/374467 |
|
FAX |
: 051/353949 |
|
Branch |
(Sales office ) |
since 01/09/2007 |
|
Via |
Vittor Pisani |
, 19 |
- 20100 |
- Milano |
(MI) |
- IT - |
- Branch (Store ) since 01/01/2008
|
Via |
Nullo Baldini |
, 47 |
- 48010 |
- Cotignola |
(RA) |
- IT - |
|
Branch |
(office ) |
since 16/06/2008 |
|
Via |
Santo Stefano |
, 14 |
- 40100 |
- Bologna |
(BO) |
- IT - |
|
Employees |
: 12 |
|
Fittings and Equipment for a value of 1.100.000 |
Eur |
|
Stocks for a value of 4.840.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
Bertolini
Giuseppe
Born
in
Residence
: Via Dante, 12 - 40125
Ex-Postions
Sole Director
Tonelli
Gian Paolo
Born
in Castel del Piano on 27/05/1940 -
Fiscal Code : TNLGPL40E27C085I
Residence
: Via Emilia Ponente , 252 -
40100
Ex-Postions
Permanent Auditor
Temporary Auditor
Zanin
Gastone
Born
in Fratta Polesine on 11/11/1926- Fiscal Code : ZNNGTN26S11D788E
Residence
:Via Di Corticella, 54 - 40100
Ex-Postions
Permanent Auditor
Temporary Auditor
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.
None reported in the name of the Firm.
Financial and Economical Analysis
Company's starting of activities dates back to 2005.
Balance sheets for the years 2007, 2008 and 2009 were
analyzed.
During the last years, it recorded positive net results (r.o.e.
16,53% in 2009)
The return on Investment in the last financial year was
positive (3,94%) and in line with the sector's average.
An operating result of Eur. 1.515.934 has been registered.
showing a fall as opposed to the previous year (-45,56%).
The gross operating margin of the latest financial year is
of Eur. 1.706.491 with a -42,3% fall.
Financial condition is not balanced as own capitals do not
cover debts, indebtedness level is in fact high (9,32) and increasing if
compared to the previous year.
The equity capital is equal to Eur. 3.676.426 , unchanged if
compared to 2008.
In the year 2009 total debts amounted to Eur. 34.670.961 on
the same levels as the year before.
Remarkable financial indebtedness specially if compared to
equity capital, the exposure to suppliers is moderate (64,99 gg. is the average
payment period) which is also lower than the sector average.
Liquidity is not at its best.
As far as the collection of credit goes, the average is high
(145,53 days). within the average values of the sector.
As far as the cash flow is concerned during the latest
financial year it amounted to Eur. 798.284
Subordinate employment cost is of Eur. 496.080, i.e. 1,02%
on total production costs. and a 1,01% incidence on sales volumes.
The financial management has a limited economic impact,
equal to -1,42% on the sales.
Financial Data
Complete
balance-sheet for the year 31/12/2009 (in Eurx 1 )
Item
Type Value
Sales 49.008.257
Profit
(Loss) for the period 607.727
Complete
balance-sheet for the year 31/12/2008 (in Eurx 1 )
Item
Type Value
Sales 60.359.010
Profit
(Loss) for the period 418.327
Complete
balance-sheet for the year 31/12/2007 (in Eurx 1 )
Item
Type Value
Sales 53.264.281
Profit
(Loss) for the period 121.298
Complete
balance-sheet for the year 31/12/2006 (in Eurx 1 )
Item
Type Value
Sales 18.398.780
Profit
(Loss) for the period 129.686
Complete
balance-sheet for the year 31/12/2005 (in Eurx 1 )
Item
Type Value
Sales 1
Profit
(Loss) for the period -613
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 |
|
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|
|
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 |
0,18 |
0,21 |
0,18 |
0,10 |
|
Elasticity Ratio |
Units |
0,81 |
0,73 |
0,77 |
0,88 |
|
Availability of stock |
Units |
0,13 |
0,16 |
0,21 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,68 |
0,57 |
0,55 |
0,60 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,00 |
0,02 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
9,32 |
8,88 |
18,24 |
4,25 |
|
Self Financing Ratio |
Units |
0,10 |
0,09 |
0,05 |
0,15 |
|
Capital protection Ratio |
Units |
0,02 |
0,00 |
0,01 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,02 |
0,01 |
0,10 |
|
Financing |
Units |
9,43 |
9,04 |
18,54 |
5,13 |
|
Permanent Indebtedness Ratio |
Units |
0,11 |
0,11 |
0,06 |
0,27 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
7,06 |
6,78 |
13,71 |
1,37 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,60 |
0,55 |
0,34 |
2,27 |
|
Current ratio |
Units |
0,91 |
0,83 |
0,83 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,77 |
0,64 |
0,59 |
0,88 |
|
Structure's primary quotient |
Units |
0,54 |
0,46 |
0,26 |
1,41 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
1.046,64 |
1.009,31 |
1.962,10 |
642,31 |
|
Current Capital ( net ) |
Value |
-3.207.818 |
-4.904.639 |
-5.077.721 |
237.601 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,63 |
0,97 |
0,29 |
2,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
16,53 |
12,16 |
7,39 |
9,18 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
22,31 |
22,86 |
17,83 |
24,88 |
|
Return on Investment ( R.O.I. ) |
% |
3,94 |
8,02 |
4,50 |
5,29 |
|
Return/ Sales |
% |
3,09 |
4,61 |
2,72 |
3,80 |
|
Extra Management revenues/charges incid. |
% |
40,09 |
15,02 |
8,35 |
29,89 |
|
Cash Flow |
Value |
798.284 |
591.312 |
157.377 |
72.037 |
|
Operating Profit |
Value |
1.515.934 |
2.784.806 |
1.450.948 |
111.392 |
|
Gross Operating Margin |
Value |
1.706.491 |
2.957.791 |
1.487.027 |
157.181 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
145,53 |
114,15 |
116,38 |
122,43 |
|
Debts to suppliers average term |
Days |
64,99 |
46,69 |
49,60 |
140,58 |
|
Average stock waiting period |
Days |
35,53 |
34,66 |
47,70 |
50,79 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,27 |
1,73 |
1,65 |
1,45 |
|
Rate of stock return |
Units |
10,13 |
10,38 |
7,54 |
7,00 |
|
Labour cost incidence |
% |
1,01 |
0,81 |
0,62 |
7,00 |
|
Net financial revenues/ charges incidence |
% |
-
1,42 |
-
2,45 |
-
2,17 |
-
0,99 |
|
Labour cost on purchasing expenses |
% |
1,02 |
0,84 |
0,63 |
7,12 |
|
Short-term financing charges |
% |
2,82 |
4,75 |
4,00 |
2,32 |
|
Capital on hand |
% |
78,52 |
57,50 |
60,42 |
68,54 |
|
Sales pro employee |
Value |
4.084.021 |
4.023.934 |
10.652.856 |
481.724 |
|
Labour cost pro employee |
Value |
41.340 |
32.854 |
66.242 |
33.060 |
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:
180.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
944.297Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a base of 6.137 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 2,35%.
The labour cost affects the turnover in the measure of
7,00%.
Goods are held in stock in a range of 50 dd.
The difference between the sales volume and the resources
used to realize it is about 1,45.
The employees costs represent the 7,12% of the production
costs.
Statistical Detrimental Data
The area is statistically considered lowly risky.
In the region 18.860 protested subjects are found; in the
province they count to 3.720.
The insolvency index for the region is 0,46, , while for the
province it is 0,40.
Total Bankrupt companies in the province : 4.335.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.