MIRA
INFORM REPORT
|
Report Date : |
07.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
FRATELLI ZANGHERI E C. - S.R.L. |
|
|
|
|
Registered Office : |
Via A. Manzoni, 2 Cerasolo Ausa, 47040- Coriano(RN) -IT- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
31.10.1972 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of Various Products In Wood |
|
|
|
|
No. of Employees : |
From 111 To 130 |
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 : |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
|
Fratelli
Zangheri e C. - S.r.l. |
|
Via |
A. Manzoni, |
2 Cerasolo Ausa |
|
47040 |
- Coriano |
(RN) |
-IT- |
Summary
|
Fiscal Code |
: |
00379830409 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
26/08/1974 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
15.500.000/18.000.000 Eur |
|
Number of Employees |
: |
from 111 to 130 |
Credit Analysis
|
Credit
Opinion |
: |
250.000
- Eur |
|
|
|
|
Activity
Sawmilling and planing of wood
Manufacture of various products
in wood (except furniture)
Legal Data
Legal Form : Limited liability
company
|
Fiscal Code : 00379830409 |
|
Foreign Trade Reg. no. :
RN000228 since 17/12/1991 |
|
Foreign Trade Reg. no. : 228
of Rimini since 17/12/1991 |
|
Foreign Trade Reg. no. :
000228 of Rimini since 17/12/1991 |
|
Chamber of Commerce no. :
146773 of Rimini since 15/07/1974 |
|
Firms' Register : RN014-1537
since 19/02/1996 |
|
V.A.T. Code : 00379830409 |
|
Tribunal Co. Register : 1537
of Rimini |
|
Foundation date |
: 31/10/1972 |
|
|
Establishment date |
: 31/10/1972 |
|
|
Start of Activities |
: 26/08/1974 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 52.000 |
Eur |
|
Subscribed Capital |
: 52.000 |
Eur |
|
Paid up Capital |
: 52.000 |
Eur |
Members
|
|
Zangheri
|
Paolo
|
|
|
|
Born in Rimini |
(FO) |
on 10/06/1967 |
- Fiscal Code :
ZNGPLA67H10H294L |
|
|
|
Residence : |
Via |
Guicciardini |
, 15 |
- 47900 |
Rimini |
(RN) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole Director |
14/04/2000 |
|
|
|
|
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.
|
|
ZANGHERI
|
PAOLO
|
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
SOPLAST S.R.L. |
Rimini (RN) - IT - |
06017190155 |
Sole
Director |
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 |
|
Zangheri Gigliola |
|
ZNGGLL40M51H294E |
26.000
.Eur |
50,00
|
|
Zangheri Monica |
Rimini - IT - |
ZNGMNC59M48H294W |
1.040
.Eur |
2,00
|
|
Zangheri Paolo |
Rimini - IT - |
ZNGPLA67H10H294L |
1.040
.Eur |
2,00
|
|
Zangheri Cesare Luciano |
|
ZNGCRL32H05H294L |
22.880
.Eur |
44,00
|
|
Zangheri Barbara |
|
ZNGBBR63D67H294R |
1.040
.Eur |
2,00
|
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 |
|
Assindustria Energia Rimini In
Sintesi Assoenergia Rimini |
Rimini - IT - |
03100320401 |
|
|
|
|
Active |
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
since 31/10/1972 |
|
|
|
|
|
Via |
A. Manzoni |
, 2 Loc. CERASOLO AUSA |
- 47040 |
- Coriano |
(RN) |
- IT - |
|
|
|
|
PHONE |
: 0541/759262 |
|
|
|
|
FAX |
: 0541/756146 |
|
- |
Office
not registered |
|
|
|
|
|
|
Superstrada Rimini - S. Marino
|
, km. 7,500 |
- 47040 |
- Coriano |
(RN) |
- IT - |
|
|
|
|
PHONE |
: 0541/759262 |
|
- |
Branch
|
(Factory
) |
since 01/02/1999 |
|
|
|
|
|
Via |
Manzoni |
, 3 |
- 47040 |
- Coriano |
(RN) |
- IT - |
|
|
|
|
PHONE |
: 0541/759262 |
|
|
|
|
Employees |
:
126 |
|
|
|
|
Assistants |
: 2 |
|
Fittings and Equipment for a
value of 2.300.000 |
Eur |
|
Stocks for a value of
3.470.000 |
Eur |
|
Vehicles quite satisfactory. |
Sales are on an international
scale.
|
|
The firm operates abroad as
importer / exporter. .
To purchase foreign products the
firm uses the following channels :
|
- its own agents |
|
- direct orders to foreign
companies |
Export represents more than 50%
of the global turnover.
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign
companies |
Import comes generally from the
following nations:
|
- Stati Uniti (USA) |
Historical Information and/or Firm's Status
CHANGES
TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement
Date |
|
Limited partnership |
Limited liability company |
22/12/1994 |
EX-MEMBERS
/ EX-POSITIONS:
|
|
Zangheri
|
Gigliola
|
|
|
|
Born in Rimini |
on 11/08/1940 |
- Fiscal Code :
ZNGGLL40M51H294E |
|
Ex-Postions |
|
Sole Director |
|
|
Moretti
|
Daniele
|
|
|
|
Born in Rimini |
on 15/07/1946 |
- Fiscal Code :
MRTDNL46L15H294Q |
|
|
|
Residence : |
Viale |
Vienna |
, 11 |
- 47900 |
Rimini |
(RN) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
ROSETTI
|
MASSIMO
|
|
|
|
Born in TORINO |
on 15/01/1967 |
- Fiscal Code : RSTMSM67A15L219V |
|
|
|
Residence : |
Via |
BASTIONI SETTENTRIONALI |
, 49 |
- 47900 |
Rimini |
(RN) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Righetti
|
Grazia
|
|
|
|
Born in Rimini |
on 15/01/1962 |
- Fiscal Code :
RGHGRZ62A55H294G |
|
|
|
Residence : |
Via |
Acquario |
, 19 |
- 47900 |
Rimini |
(RN) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Muccioli
|
Sandro
|
|
|
|
Born in Rimini |
on 13/12/1962 |
- Fiscal Code :
MCCSDR62T13H294G |
|
|
|
Residence : |
Via |
Resia |
, 5 |
- 47900 |
Rimini |
(RN) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
Protests
Protests checking on the subject firm has given a negative
result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a
specialized data base.
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 1974.
The analysis is based on the
latest 3 balance sheets.
Under the financial profile
unstable results are noted. with a loss in the last financial year. Upward
trend as to the turnover in the last financial year (+18,97%).
The operating result is
negative.
The amount of the operating loss
for 2010 is equal to Eur. -1.077.093.
With regard to GOM, subject
closed 2010 financial account with a negative result (Eur. -771.886).
The company has an excellent net
worth if compared to its debts, with a low indebtedness (0,45) increasing
compared to last year (0,24)
With regard to equity capital,
an amount of Eur. 5.807.169 is registered. , unchanged as opposed to the
preceding year.
Eur. 4.794.725 is the amount of
total debts, both commercial and of different nature, showing a stable trend as
opposed to 2009 (Eur. 4.755.105).
The company does not exceed in
bank credits; payments average period is instead slightly high (141,03 gg.)
however still within the sector's average.
The available funds are good.
Accounts receivable average term
is 64,45 days. , a value lower than the sector's average.
A negative cash flow marked the
year 2010 totalling Eur. -263.352.
During 2010 financial year
labour costs amounted to Eur. 5.587.184, with a 32,81% incidence on production
costs. , whereas 35,55% is the incidence on sales revenues.
The financial management is
positive as incomes are higher than the charges.
Financial Data
|
|
|
Complete balance-sheet for the
year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
15.717.594 |
|
Profit (Loss) for the period |
-568.559 |
|
|
|
Complete balance-sheet for the
year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
13.210.495 |
|
Profit (Loss) for the period |
90.357 |
|
|
|
Complete balance-sheet for the
year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
14.603.744 |
|
Profit (Loss) for the period |
62.447 |
|
|
|
Complete balance-sheet for the
year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
18.240.872 |
|
Profit (Loss) for the period |
398.354 |
|
|
|
Complete balance-sheet for the
year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
15.179.995 |
|
Profit (Loss) for the period |
175.971 |
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 31/12/2010 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
-
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 |
|
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|
|
RATIOS |
Value Type |
as
at 31/12/2010 |
as
at 31/12/2009 |
as
at 31/12/2008 |
Sector
Average |
|
COMPOSITION
ON INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,29 |
0,24 |
0,19 |
0,23 |
|
Elasticity Ratio |
Units |
0,71 |
0,76 |
0,81 |
0,75 |
|
Availability of stock |
Units |
0,29 |
0,31 |
0,27 |
0,19 |
|
Total Liquidity Ratio |
Units |
0,42 |
0,45 |
0,53 |
0,46 |
|
Quick Ratio |
Units |
0,18 |
0,24 |
0,34 |
0,02 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,45 |
0,24 |
0,09 |
3,53 |
|
Self Financing Ratio |
Units |
0,48 |
0,52 |
0,50 |
0,18 |
|
Capital protection Ratio |
Units |
1,09 |
0,98 |
0,98 |
0,74 |
|
Liabilities consolidation
quotient |
Units |
0,29 |
0,30 |
0,30 |
0,19 |
|
Financing |
Units |
0,83 |
0,71 |
0,76 |
4,24 |
|
Permanent Indebtedness Ratio |
Units |
0,60 |
0,63 |
0,61 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,11 |
0,11 |
0,11 |
0,11 |
|
Net Financial Indebtedness
Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,11 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,08 |
2,59 |
3,18 |
1,20 |
|
Current ratio |
Units |
1,78 |
2,06 |
2,13 |
1,07 |
|
Acid Test Ratio-Liquidity
Ratio |
Units |
1,06 |
1,22 |
1,40 |
0,76 |
|
Structure's primary quotient |
Units |
1,68 |
2,14 |
2,60 |
0,71 |
|
Treasury's primary quotient |
Units |
0,46 |
0,66 |
0,88 |
0,03 |
|
Rate of indebtedness (
Leverage ) |
% |
206,87 |
192,43 |
200,44 |
570,55 |
|
Current Capital ( net ) |
Value |
3.761.137 |
5.038.997 |
5.989.715 |
75.064 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
-
1,68 |
2,97 |
2,75 |
3,19 |
|
Return on Equity - Net- (
R.O.E. ) |
% |
-
9,79 |
1,34 |
0,89 |
3,20 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
-
11,60 |
0,74 |
7,33 |
11,58 |
|
Return on Investment ( R.O.I.
) |
% |
-
8,97 |
0,06 |
-
1,88 |
3,86 |
|
Return/ Sales |
% |
-
6,85 |
0,06 |
-
1,81 |
4,18 |
|
Extra Management
revenues/charges incid. |
% |
n.c. |
1.220,71 |
n.c. |
18,85 |
|
Cash Flow |
Value |
-263.352 |
392.357 |
402.113 |
63.415 |
|
Operating Profit |
Value |
-1.077.093 |
7.402 |
-263.824 |
78.946 |
|
Gross Operating Margin |
Value |
-771.886 |
309.402 |
75.842 |
163.908 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average
term |
Days |
64,45 |
67,71 |
59,43 |
110,14 |
|
Debts to suppliers average
term |
Days |
141,03 |
163,66 |
121,61 |
125,02 |
|
Average stock waiting period |
Days |
79,38 |
108,34 |
94,84 |
68,56 |
|
Rate of capital employed
return ( Turnover ) |
Units |
1,31 |
1,02 |
1,04 |
1,00 |
|
Rate of stock return |
Units |
4,54 |
3,32 |
3,80 |
5,15 |
|
Labour cost incidence |
% |
35,55 |
37,02 |
36,06 |
16,61 |
|
Net financial revenues/
charges incidence |
% |
0,36 |
0,10 |
2,05 |
-
1,99 |
|
Labour cost on purchasing
expenses |
% |
32,81 |
35,31 |
32,27 |
16,95 |
|
Short-term financing charges |
% |
2,50 |
0,33 |
n.c. |
2,95 |
|
Capital on hand |
% |
76,43 |
98,03 |
95,86 |
99,54 |
|
Sales pro employee |
Value |
90.331 |
86.911 |
89.047 |
179.348 |
|
Labour cost pro employee |
Value |
32.110 |
32.175 |
32.107 |
32.046 |
Market / Territory Data
|
Population living in the
province |
: |
|
|
Population living in the
region |
: |
|
|
Number of families in the
region |
: |
|
286.796Monthly family expences 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 1.333 significant companies.
The companies cash their credits
on an average of 110 dd.
The average duration of
suppliers debts is about 125 dd.
The sector's profitability is on
an average of 3,19%.
The labour cost affects the
turnover in the measure of 16,61%.
Goods are held in stock in a
range of 68 dd.
The difference between the sales
volume and the resources used to realize it is about 1,00.
The employees costs represent
the 16,95% of the production costs.
Statistical Detrimental Data
The area is statistically
considered moderately risky.
In the region 18.860 protested
subjects are found; in the province they count to 2.270.
The insolvency index for the
region is 0,46, , while for the province it is 0,81.
Total Bankrupt companies in the
province : 749.
Total Bankrupt companies in the
region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
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.