MIRA INFORM REPORT
|
Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PROFILINOX - S.P.A. |
|
|
|
|
Registered Office : |
Via Nobel, 3/A, 43100- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
20.03.1986 |
|
|
|
|
Com. Reg. No.: |
PR027-16737 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of metalliferous minerals, ferrous metals and semi-finished
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 : |
250.000 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
Profilinox - S.p.a.
Via Nobel, 3/A
43100 -
Summary
|
Fiscal Code |
: |
01543470346 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
25/09/1986 |
|
Equity |
: |
Over 2.582.254 Eur |
|
|
: |
35.000.000/50.000.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
Credit Analysis
|
Credit Opinion |
: |
250.000 - Eur |
Activity
Wholesale of metalliferous minerals, ferrous metals and semi-finished
products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 01543470346 |
|
Foreign Trade Reg. no. : PR010563 since 01/12/1992 |
|
Chamber of Commerce no. : 161498 of |
|
Firms' Register : PR027-16737 |
|
V.A.T. Code : 01543470346 |
|
Tribunal Co. Register : 16737 of |
|
Foundation date |
: 25/09/1986 |
|
|
Establishment date |
: 20/03/1986 |
|
|
Start of Activities |
: 25/09/1986 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.000.000 |
Eur |
|
Subscribed Capital |
: 1.000.000 |
Eur |
|
Paid up Capital |
: 1.000.000 |
Eur |
Members
|
|
Vender |
Giovanni |
|
|
|
Born in |
(PR) |
on 15/08/1942 |
- Fiscal Code : VNDGNN42M15G337P |
|
|
|
Residence : |
Viale |
Delle Rimembranze |
, 19 |
- 43100 |
|
(PR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
23/07/2010 |
|
|
|
Director |
29/05/2010 |
|
|
|
Board Chairman |
29/05/2010 |
|
|
|
|
No Protests registered |
|
|
Mattioli |
Manuela |
|
|
|
Born in |
(PR) |
on 10/03/1947 |
- Fiscal Code : MTTMNL47C50G337Y |
|
|
|
Residence : |
Viale |
Rimembranze |
, 19 |
- 43100 |
|
(PR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
23/07/2010 |
|
|
|
Director |
29/05/2010 |
|
|
|
|
No Protests registered |
|
|
Rossi |
Luciana Maria |
|
|
Born in Milano |
(MI) |
on 14/09/1948 |
- Fiscal Code : RSSLNM48P54F205I |
|
|
Residence : |
Via |
Feltre |
, 71 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2010 |
|
|
|
|
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.
|
|
VENDER |
GIOVANNI |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
ACCIAI VENDER SOCIETA' PER AZIONI |
|
00426590345 |
Director |
Active |
Registered |
|
ACCIAI VENDER SOCIETA' PER AZIONI |
|
00426590345 |
Managing
Director |
Active |
Registered |
|
ALBERGO TRE VILLE S.R.L. |
|
02052210347 |
Board Chairman |
Active |
Registered |
|
CAPITAL E CONSULTING S.R.L. |
|
02172960342 |
Board Chairman |
Active |
Registered |
|
CENTRO ACCIAI INOX S.R.L. |
Modugno (BA) - IT - |
03986610727 |
Director |
Active |
Registered |
|
CENTRO ACCIAI INOX S.R.L. |
Modugno (BA) - IT - |
03986610727 |
Assistant board
Chairman |
Withdrawn |
Registered |
|
CENTRO ACCIAI INOX S.R.L. |
Modugno (BA) - IT - |
03986610727 |
Board Chairman |
Active |
Registered |
|
E.L. GIOE S.R.L. |
|
02362970341 |
Board Chairman |
Active |
Registered |
|
FINVEN IMMOBILIARE S.R.L. |
|
02362990349 |
Director |
Active |
Registered |
|
G.R.T. CAPITAL AND CONSULTING S.R.L. |
|
01109910321 |
Director |
Withdrawn |
Registered |
|
G.R.T. CAPITAL AND CONSULTING S.R.L. |
|
01109910321 |
Board Chairman |
Withdrawn |
Registered |
|
G.V. INTERNATIONAL S.P.A. |
|
02238820340 |
Director |
Active |
Registered |
|
G.V. INTERNATIONAL S.P.A. |
|
02238820340 |
Board Chairman |
Active |
Registered |
|
GIOE IMMOBILIARE S.R.L. |
|
02084770342 |
Sole Director |
Active |
Registered |
|
GRUPPO INOX - SOCIETA' PER AZIONI |
|
02766730960 |
Director |
Active |
Registered |
|
GRUPPO INOX - SOCIETA' PER AZIONI |
|
02766730960 |
Assistant board
Chairman |
Active |
Registered |
|
GV - FIN S.R.L. |
|
02387140342 |
Director |
Withdrawn |
Registered |
|
GV - FIN S.R.L. |
|
02387140342 |
Board Chairman |
Withdrawn |
Registered |
|
M.A. CENTRO INOSSIDABILI SOCIETA' PER AZIONI |
Calenzano (FI) - IT - |
04059840480 |
Director |
Active |
Registered |
|
M.A. CENTRO INOSSIDABILI SOCIETA' PER AZIONI |
Calenzano (FI) - IT - |
04059840480 |
Board Chairman |
Active |
Registered |
|
MARIVEN S.R.L. |
Gazoldo degli Ippoliti (MN) - IT - |
02238870204 |
Sole Director |
Withdrawn |
Registered |
|
METALTRADING S.R.L. |
|
02315640348 |
Director |
Withdrawn |
Registered |
|
METALTRADING S.R.L. |
|
02315640348 |
Board Chairman |
Withdrawn |
Registered |
|
S.L.M. SERVICE S.R.L. |
|
02313550267 |
Director |
Active |
Registered |
|
|
MATTIOLI |
MANUELA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
ACCIAI VENDER SOCIETA' PER AZIONI |
|
00426590345 |
Director |
Active |
Registered |
|
ACCIAI VENDER SOCIETA' PER AZIONI |
|
00426590345 |
Board Chairman |
Active |
Registered |
|
E.L. GIOE S.R.L. |
|
02362970341 |
Director |
Active |
Registered |
|
EREDI GIULIANI EMMA VENDER - SOCIETA' IN ACCOMANDITA SEMPLICE |
- - |
00226770345 |
Liquidator |
Withdrawn |
Ceased |
|
FINANZIARIA FINAI S.R.L. |
|
01793980341 |
Board Chairman |
Withdrawn |
Registered |
|
FININOX S.R.L. |
|
02363050341 |
Director |
Withdrawn |
Ceased |
|
FINVEN IMMOBILIARE S.R.L. |
|
02362990349 |
Director |
Active |
Registered |
|
FINVEN SPA |
|
07788450158 |
Director |
Withdrawn |
Ceased |
|
FINVEN SPA |
|
07788450158 |
Managing
Director |
Withdrawn |
Ceased |
|
G.V. INTERNATIONAL S.P.A. |
|
02238820340 |
Procurator |
Active |
Registered |
|
GIOE IMMOBILIARE S.R.L. |
|
02084770342 |
Procurator |
Active |
Registered |
|
GRUPPO INOX - SOCIETA' PER AZIONI |
|
02766730960 |
Director |
Active |
Registered |
|
I.V.P. S.R.L. |
|
02278090341 |
Procurator |
Withdrawn |
Registered |
|
M.A. CENTRO INOSSIDABILI SOCIETA' PER AZIONI |
Calenzano (FI) - IT - |
04059840480 |
Director |
Active |
Registered |
|
METALTRADING S.R.L. |
|
02315640348 |
Procurator |
Withdrawn |
Registered |
|
SIDERNASTRI INOX SRL |
|
02471200960 |
Attorney with
special power |
Withdrawn |
Ceased |
|
VENETA INOXSERVICE S.R.L. |
Thiene (VI) - IT - |
00891020240 |
Director |
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 |
|
Profilinox - S.p.a. |
|
01543470346 |
100.000 .Eur |
10,00 |
|
Acciai Vender Societa' Per Azioni |
|
00426590345 |
200.000 .Eur |
20,00 |
|
G.l.r. Stardust S.r.l. |
|
02362980340 |
350.000 .Eur |
35,00 |
|
E.l. Gioe S.r.l. |
|
02362970341 |
350.000 .Eur |
35,00 |
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 |
|
Profilinox - S.p.a. |
|
01543470346 |
100.000 .Eur |
10,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 30/01/1990 |
|
|
|
|
|
Via |
Nobel |
, 3/A |
- 43100 |
- |
(PR) |
- IT - |
|
|
|
|
PHONE |
: 0521/607801 |
|
|
|
|
FAX |
: 0521/607817 |
|
|
|
|
Employees |
: 33 |
|
Fittings and Equipment for a value of 1.250.000 |
Eur |
|
Stocks for a value of 5.100.000 |
Eur |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
16/06/1987 |
COMPANY'S CAPITAL CHANGES:
|
Former Type |
Former Amount |
New Type |
New Amount |
Changement Date |
|
subcribed,nominal and issued |
46.481 |
subcribed,nominal and issued |
103.291 |
|
Eur
EX-MEMBERS / EX-POSITIONS:
|
|
Vender |
Giovanni |
|
|
|
Born in |
on 15/08/1942 |
- Fiscal Code : VNDGNN42M15G337P |
|
|
|
Residence : |
Viale |
Delle Rimembranze |
, 19 |
- 43100 |
|
(PR) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
Managing Director |
|
|
Mattioli |
Manuela |
|
|
|
Born in |
on 10/03/1947 |
- Fiscal Code : MTTMNL47C50G337Y |
|
|
|
Residence : |
Viale |
Rimembranze |
, 19 |
- 43100 |
|
(PR) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Vender |
Giovanni |
|
|
|
Born in |
on 15/08/1942 |
- Fiscal Code : VNDGNN42M15G337P |
|
|
|
Residence : |
Viale |
Rimembranze |
, 19 |
- 43100 |
|
(PR) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
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.
Immovables *
*Subject to survey.
|
Immovable Type |
Value |
|
Real estates |
1.163.228 - Eur |
NB.: For Capital Companies the value of the Immovables is the one
reported in the latest available financial documents.
Financial and Economical Analysis
Company's starting of activities dates back to 1986.
An eco-fin analysis has been made on the base od the b/s fo the years
2007, 2008 and 2009.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 2,55% in 2009
The operating result in 2009 was positive (2,46%) falling within the
field's average.
The operating result is positive and amounts to Eur. 1.624.968 recording
a drop as opposed to the year before (-67,06%).
During the latest financial year the gross operating margin amounted to
Eur. 2.524.553 with a -54,47% fall.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (1,31) with an improving trend as on the decrease.
Subject can manage an equity capital funds for an amount of Eur.
24.373.109 on stable levels.
Total debts recorded amounted to Eur. 38.263.937 (Eur. 5.313.280 of
which were m/l term debts) , a more or less stable value.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high even if it still falls within the sector's average.
It shows a good range of liquidity.
Trade credits are collected slowly, average term is 325,76 days. even
higher than the average of the specific sector.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 1.520.134
In the last financial year labour cost was of Eur. 1.230.457, with a
2,51% incidence on total costs of production. , whereas 2,46% is the incidence
on sales revenues.
Limited financial charges in relation to sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
49.958.491 |
|
Profit (Loss) for the period |
620.549 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
86.782.826 |
|
Profit (Loss) for the period |
2.434.802 |
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
118.415.575 |
|
Profit (Loss) for the period |
4.542.785 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
85.607.613 |
|
Profit (Loss) for the period |
3.291.495 |
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 |
0,21 |
0,19 |
0,05 |
0,10 |
|
Elasticity Ratio |
Units |
0,79 |
0,81 |
0,94 |
0,88 |
|
Availability of stock |
Units |
0,08 |
0,12 |
0,08 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,71 |
0,69 |
0,86 |
0,60 |
|
Quick Ratio |
Units |
0,02 |
0,02 |
0,01 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,31 |
1,52 |
3,70 |
4,25 |
|
Self Financing Ratio |
Units |
0,37 |
0,33 |
0,19 |
0,15 |
|
Capital protection Ratio |
Units |
0,93 |
0,86 |
0,64 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,17 |
0,20 |
0,14 |
0,10 |
|
Financing |
Units |
1,57 |
1,86 |
4,25 |
5,13 |
|
Permanent Indebtedness Ratio |
Units |
0,46 |
0,44 |
0,29 |
0,27 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,10 |
0,10 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
0,92 |
0,90 |
1,85 |
1,37 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,21 |
2,35 |
5,46 |
2,27 |
|
Current ratio |
Units |
1,58 |
1,55 |
1,33 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,43 |
1,31 |
1,22 |
0,88 |
|
Structure's primary quotient |
Units |
1,79 |
1,79 |
3,56 |
1,41 |
|
Treasury's primary quotient |
Units |
0,03 |
0,03 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
270,47 |
300,55 |
528,34 |
642,31 |
|
Current Capital ( net ) |
Value |
19.142.399 |
20.579.912 |
19.339.521 |
237.601 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,04 |
3,51 |
4,35 |
2,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
2,55 |
10,25 |
29,29 |
9,18 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
4,46 |
15,48 |
48,52 |
24,88 |
|
Return on Investment ( R.O.I. ) |
% |
2,46 |
6,91 |
11,35 |
5,29 |
|
Return/ Sales |
% |
3,25 |
5,69 |
7,86 |
3,80 |
|
Extra Management revenues/charges incid. |
% |
38,19 |
49,34 |
48,83 |
29,89 |
|
Cash Flow |
Value |
1.520.134 |
3.046.103 |
5.146.949 |
72.037 |
|
Operating Profit |
Value |
1.624.968 |
4.934.509 |
9.302.769 |
111.392 |
|
Gross Operating Margin |
Value |
2.524.553 |
5.545.810 |
9.906.933 |
157.181 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
325,76 |
194,52 |
182,35 |
122,43 |
|
Debts to suppliers average term |
Days |
118,25 |
94,41 |
120,24 |
140,58 |
|
Average stock waiting period |
Days |
36,78 |
36,86 |
19,93 |
50,79 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,76 |
1,22 |
1,45 |
1,45 |
|
Rate of stock return |
Units |
9,79 |
9,77 |
18,07 |
7,00 |
|
Labour cost incidence |
% |
2,46 |
1,40 |
0,97 |
7,00 |
|
Net financial revenues/ charges incidence |
% |
- 1,38 |
- 1,45 |
- 1,52 |
- 0,99 |
|
Labour cost on purchasing expenses |
% |
2,51 |
1,47 |
1,05 |
7,12 |
|
Short-term financing charges |
% |
1,81 |
3,55 |
2,75 |
2,32 |
|
Capital on hand |
% |
131,95 |
82,26 |
69,19 |
68,54 |
|
Sales pro employee |
Value |
1.513.893 |
2.629.782 |
4.229.127 |
481.724 |
|
Labour cost pro employee |
Value |
37.286 |
36.718 |
41.047 |
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:
250.000Eur.
Market / Territory Data
|
Population living in the province |
: |
413.198 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
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 1.231.
The insolvency index for the region is 0,46, , while for the province it
is 0,31.
Total Bankrupt companies in the province : 1.624.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.02 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.62.54 |
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.