MIRA INFORM REPORT
|
Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
F.T.B. S.R.L. |
|
|
|
|
Registered Office : |
Via Tensa, 4, 28010 - Bogogno(NO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
01.06.1979 |
|
|
|
|
Com. Reg. No.: |
NO106-8858 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of metal forming machinery and
tool machines |
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 : |
20.000 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 – 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 & address
F.t.b. S.r.l.
Via Tensa, 4
28010 - Bogogno (NO) -IT-
Summary
|
Fiscal Code |
: |
00538870031 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/06/1979 |
|
Equity |
: |
400.000 Eur |
|
Turnover Range |
: |
500.000/750.000 Eur |
|
Number of Employees |
: |
from 11 to 15 |
Credit Analysis
|
Credit Opinion |
: |
20.000 - Eur |
Activity
Manufacture of metal forming machinery and
tool machines
Legal Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 36657 of
Novara |
|
Fiscal Code : 00538870031 |
|
Chamber of Commerce no. : 128831 of Novara
since 11/06/1979 |
|
Firms' Register : NO106-8858 since
19/02/1996 |
|
V.A.T. Code : 00538870031 |
|
Establishment date |
: 01/06/1979 |
|
|
Start of Activities |
: 01/06/1979 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 102.000 |
Eur |
|
Subscribed Capital |
: 102.000 |
Eur |
|
Paid up Capital |
: 102.000 |
Eur |
Members
|
|
Bettanello |
Ampelio |
|
|
|
Born in Rubano |
(PD) |
on 18/06/1952 |
- Fiscal Code : BTTMPL52H18H625S |
|
|
|
Residence : |
Via |
Delle Vigne |
, 19 |
- 21018 |
Sesto Calende |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
15/06/2006 |
|
|
|
Director |
04/04/2006 |
|
|
|
Board Chairman |
04/04/2006 |
|
|
|
|
No Protests
registered |
|
|
Freguglia |
Gian Carlo |
|
|
|
Born in Borgomanero |
(NO) |
on 02/10/1970 |
- Fiscal Code : FRGGCR70R02B019X |
|
|
|
Residence : |
Via |
Marconi |
, 30 |
- 28010 |
Bogogno |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
15/06/2006 |
|
|
|
Director |
04/04/2006 |
|
|
|
Attorney with special power |
10/07/2007 |
|
|
|
|
No Protests
registered |
|
|
Travaini |
Alessio |
|
|
|
Born in Borgosesia |
(VC) |
on 18/02/1974 |
- Fiscal Code : TRVLSS74B18B041Z |
|
|
|
Residence : |
Via |
Carlo Sacchi |
, 1/A |
- 28014 |
Maggiora |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
15/06/2006 |
|
|
|
Director |
04/04/2006 |
|
|
|
|
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.
|
|
BETTANELLO |
AMPELIO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BETTANELLO AMPELIO |
- - |
BTTMPL52H18H625S |
Proprietor |
Withdrawn |
Ceased |
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 |
|
Bettanello Ampelio |
Sesto Calende - IT - |
BTTMPL52H18H625S |
34.000 .Eur |
33,33 |
|
Freguglia Gian Carlo |
Bogogno - IT - |
FRGGCR70R02B019X |
17.000 .Eur |
16,66 |
|
Travaini Alessio |
Maggiora - IT - |
TRVLSS74B18B041Z |
34.000 .Eur |
33,33 |
|
Freguglia Luca |
|
FRGLCU73R25B019S |
17.000 .Eur |
16,66 |
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 |
|
|
|
|
|
|
Via |
Tensa |
, 4 |
- 28010 |
- Bogogno |
(NO) |
- IT - |
|
|
|
|
PHONE |
: 0322/808769 |
|
|
|
|
PHONE |
: 0322/808447 |
|
|
|
|
FAX |
: 0322/808769 |
|
|
|
|
Employees |
: 10 |
|
|
|
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of
560.000 |
Eur |
|
Stocks for a value of 390.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own
vehicles and third parties ones
The company 's mainly customers are
companies.
|
|
Subject generally proposes terms of sale
between 30 and 60 days.
Subject usually collects by cash order and
drafts.
Purchase terms: 60-90-120 days.
Main used payment modalities are by cash
orders and bank transfers.
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
FREGUGLIA |
GIACOMO |
|
|
|
Born in PARIGI |
on 12/11/1934 |
- Fiscal Code : FRGGCM34S12Z110U |
|
Ex-Postions |
|
Partner |
|
|
TRAVAINI |
FRANCO |
|
|
|
Born in MAGGIORA |
on 02/06/1947 |
- Fiscal Code : TRVFNC47H02E803G |
|
Ex-Postions |
|
Partner |
|
|
Bettanello |
Ampelio |
|
|
|
Born in Rubano |
on 18/06/1952 |
- Fiscal Code : BTTMPL52H18H625S |
|
|
|
Residence : |
Via |
Delle Vigne |
, 19 |
- 21018 |
Sesto Calende |
(VA) |
- IT - |
|
Ex-Postions |
|
Partner |
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 1979.
The analysis is based on the latest 3
balance sheets.
Unstable economic results mark the company's
financial state of affairs. ; in the last financial year a loss was registered
(r.o.e. -12,68%) Business volume is falling in the last financial year.
The return on Investment in the last
financial year was positive (1,29%) and reflects the field's average.
The amount of the operating result for the
year 2009 is of Eur. 15.383 with a -79,47% drop.
A gross operating margine for a value of
Eur. 46.259 was reached. with a -59,46% fall.
The analysis shows a fair financial position
as the indebtedness volume is acceptable (1,99) even though on the increase if
compared to 2008.
It's shareholders funds amount to Eur.
336.940 , unchanged if compared to 2008.
During the last financial year total debts
volume reached Eur. 781.981 (Eur. 111.000 were m/l term ones) showing a stable
trend as opposed to 2008 (Eur. 771.478).
Both financial indebtedness and suppliers
exposure are rather high but lower than the field average.
Liquidity is not completely adequate.
On average trade credits are collected in 65,46
days. , a value lower than the sector's average.
(Eur. -11.839) is the negative value of the
cash flow.
In the last financial year labour cost was
of Eur. 248.042, with a 34,22% incidence on total costs of production. and a
35,29% incidence on sales volumes.
The financial management is marked by a high
incidence of financial charges in relation to sales revenues (-6,77%).
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
702.810 |
|
Profit (Loss) for the period |
-42.715 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.423.195 |
|
Profit (Loss) for the period |
160 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.127.906 |
|
Profit (Loss) for the period |
3.187 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.217.391 |
|
Profit (Loss) for the period |
10.260 |
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 |
0,53 |
0,53 |
0,36 |
0,18 |
|
Elasticity Ratio |
Units |
0,46 |
0,46 |
0,62 |
0,80 |
|
Availability of stock |
Units |
0,33 |
0,29 |
0,26 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,14 |
0,17 |
0,36 |
0,44 |
|
Quick Ratio |
Units |
0,00 |
0,03 |
0,00 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,99 |
1,72 |
3,49 |
3,95 |
|
Self Financing Ratio |
Units |
0,28 |
0,31 |
0,20 |
0,13 |
|
Capital protection Ratio |
Units |
0,82 |
0,73 |
0,72 |
0,60 |
|
Liabilities consolidation quotient |
Units |
0,27 |
0,22 |
0,08 |
0,11 |
|
Financing |
Units |
2,32 |
2,03 |
3,68 |
5,08 |
|
Permanent Indebtedness Ratio |
Units |
0,43 |
0,43 |
0,27 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,12 |
0,06 |
0,08 |
|
Net Financial Indebtedness Ratio |
Units |
1,40 |
0,87 |
n.c. |
0,76 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,82 |
0,82 |
0,73 |
1,78 |
|
Current ratio |
Units |
0,82 |
0,82 |
0,85 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,24 |
0,31 |
0,49 |
0,67 |
|
Structure's primary quotient |
Units |
0,53 |
0,59 |
0,55 |
0,93 |
|
Treasury's primary quotient |
Units |
0,00 |
0,05 |
0,00 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
353,04 |
320,34 |
484,08 |
711,85 |
|
Current Capital ( net ) |
Value |
-119.448 |
-122.035 |
-192.231 |
260.523 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
- 1,68 |
1,62 |
4,34 |
2,69 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
- 12,68 |
0,04 |
0,83 |
3,59 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
- 11,24 |
8,48 |
10,00 |
23,65 |
|
Return on Investment ( R.O.I. ) |
% |
1,29 |
6,16 |
5,52 |
4,42 |
|
Return/ Sales |
% |
2,19 |
3,09 |
8,99 |
3,96 |
|
Extra Management revenues/charges incid. |
% |
- 277,68 |
0,21 |
3,14 |
14,09 |
|
Cash Flow |
Value |
-11.839 |
39.317 |
49.059 |
61.403 |
|
Operating Profit |
Value |
15.383 |
74.959 |
101.431 |
126.277 |
|
Gross Operating Margin |
Value |
46.259 |
114.116 |
147.303 |
173.261 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
65,46 |
22,15 |
209,23 |
127,36 |
|
Debts to suppliers average term |
Days |
108,30 |
57,64 |
470,00 |
154,41 |
|
Average stock waiting period |
Days |
198,87 |
52,51 |
152,49 |
107,40 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,59 |
1,99 |
0,61 |
1,06 |
|
Rate of stock return |
Units |
1,81 |
6,86 |
2,36 |
3,34 |
|
Labour cost incidence |
% |
35,29 |
13,80 |
25,18 |
21,45 |
|
Net financial revenues/ charges incidence |
% |
- 6,77 |
- 2,36 |
- 5,63 |
- 1,57 |
|
Labour cost on purchasing expenses |
% |
34,22 |
14,95 |
25,76 |
21,15 |
|
Short-term financing charges |
% |
6,09 |
7,44 |
4,54 |
3,24 |
|
Capital on hand |
% |
169,25 |
50,19 |
162,87 |
94,33 |
|
Sales pro employee |
Value |
100.401 |
242.319 |
125.322 |
182.108 |
|
Labour cost pro employee |
Value |
35.434 |
33.448 |
31.561 |
36.959 |
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:
20.000Eur.
Market / Territory Data
|
Population living in the province |
: |
353.743 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expenses average in the
region (in Eur.) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
Sector Data
The values are calculated on a base of 45
significant companies.
The companies cash their credits on an
average of 127 dd.
The average duration of suppliers debts is
about 154 dd.
The sector's profitability is on an average
of 2,69%.
The labour cost affects the turnover in the
measure of 21,45%.
Goods are held in stock in a range of 107
dd.
The difference between the sales volume and
the resources used to realize it is about 1,06.
The employees costs represent the 21,15% of
the production costs.
Statistical Detrimental Data
The area is statistically considered
moderately risky.
In the region 27.019 protested subjects are
found; in the province they count to 2.505.
The insolvency index for the region is 0,63,
, while for the province it is 0,71.
Total Bankrupt companies in the province :
1.102.
Total Bankrupt companies in the region :
14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
|
UK Pound |
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.62.60 |
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.