MIRA
INFORM REPORT
|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
WEISSESTAL HOME CONCEPTS S.R.L. |
|
|
|
|
Registered Office : |
Viale, Tommaso Edison, 6120099 - Sesto San
Giovanni(MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
10.09.2007 |
|
|
|
|
Com. Reg. No.: |
Not available |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of china and porcelain |
|
|
|
|
No. of Employees : |
from 6 to 10 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a
diversified industrial economy, which is divided into a developed industrial
north, dominated by private companies, and a less-developed, welfare-dependent,
agricultural south, with high unemployment. The Italian economy is driven in
large part by the manufacture of high-quality consumer goods produced by small
and medium-sized enterprises, many of them family owned. Italy also has a
sizable underground economy, which by some estimates accounts for as much as
17% of GDP. These activities are most common within the agriculture,
construction, and service sectors. Italy is the third-largest economy in the
euro-zone, but exceptionally high public debt burdens and structural
impediments to growth have rendered it vulnerable to scrutiny by financial markets.
Public debt has increased steadily since 2007, reaching 120% of GDP in 2011,
and borrowing costs on sovereign government debt have risen to record levels.
During the second half of 2011 the government passed a series of three
austerity packages to balance its budget by 2013 and decrease its public debt
burden. These measures included a hike in the value-added tax, pension reforms,
and cuts to public administration. The government also faces pressure from
investors and European partners to address Italy's long-standing structural
impediments to growth, such as an inflexible labor market and widespread tax
evasion. The international financial crisis worsened conditions in Italy''s
labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but
in the longer-term Italy''s low fertility rate and quota-driven immigration
policies will increasingly strain its economy. The euro-zone crisis along with
Italian austerity measures have reduced exports and domestic demand, slowing
Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.
|
Source : CIA |
company name & address
Weissestal Home Concepts S.r.l.
Viale Tommaso Edison, 61
20099 - Sesto San Giovanni (MI) -IT-
Summary
|
Fiscal Code |
: |
05863820964 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
11/04/2011 |
|
Equity |
: |
250.000 |
|
Turnover Range |
: |
750.000/1.000.000 |
|
Number of Employees |
: |
from 6 to 10 |
Highlights
|
The company under review has been established
in 2007, but started its commercial |
|
activities only in 2011. |
|
Part of its shares are owned by the Dutch
PRICKET HOLDING N.V., which owns further |
|
shareholdings in other companies in the
same sector. |
|
Business transactions on credit basis are
feasible. |
Activity
Wholesale of china and porcelain
Legal Data
Legal Form : Limited liability
company
|
Fiscal Code : 05863820964 |
|
Chamber of Commerce no. : 209070 of |
|
Chamber of Commerce no. : 1854770 of since
24/09/2007 |
|
Chamber of Commerce no. : 351080 of |
|
V.A.T. Code : 05863820964 |
|
Establishment date |
: 10/09/2007 |
|
|
Start of Activities |
: 11/04/2011 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
|
Members
|
|
Hofmann |
Bernd Georg |
|
|
|
Born in Frankenthal |
( ) |
on 22/06/1951 |
- Fiscal Code : HFMBND51H22Z112D |
|
|
|
Residence: |
|
Ercole Marelli |
, 19 |
- 20099 |
Sesto San Giovanni |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/03/2011 |
|
|
|
Board Chairman |
28/03/2011 |
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Hofmann |
Sascha Andre' |
|
|
|
Born in Frankenthal |
( ) |
on 13/09/1981 |
- Fiscal Code : HFMSCH81P13Z112C |
|
|
|
Residence: |
|
Ercole Marelli |
, 19 |
- 20099 |
Sesto San Giovanni |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Muzzini |
Elena |
|
|
|
Born in Milano |
(MI) |
on 22/09/1970 |
- Fiscal Code : MZZLNE70P62F205Z |
|
|
|
Residence: |
|
Ungheria |
, 24 |
- 20138 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/03/2011 |
|
|
|
|
No Protests
registered |
|
|
Binci |
Claudio |
|
|
|
Born in Montemarciano |
(AN) |
on 28/08/1952 |
- Fiscal Code : BNCCLD52M28F560C |
|
|
|
Residence: |
|
Fornacette Tr.i. |
, 137/D |
- 55100 |
Lucca |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/03/2011 |
|
|
|
|
No Protests
registered |
Companies connected to members *
*checkings have been performed
on a national scale.
In this module the companies in
which members hold/held positions are listed.
The Members of the subject firm
are not reported to be Members in other companies.
Capital Shareholders
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Intereurope S.r.l. |
Sesto San Giovanni - IT - |
02912000961 |
1.000 .Eur |
10,00 |
|
Hofmann Sascha Andre' |
Sesto San Giovanni - IT - |
HFMSCH81P13Z112C |
3.000 .Eur |
30,00 |
|
Hofmann Sheela Yill |
|
HFMSLY87T57I690Z |
2.500 .Eur |
25,00 |
|
Schroer Rosemarie |
|
SCHRMR60C43Z112P |
2.500 .Eur |
25,00 |
|
Pricket Holding N.v. |
|
|
1.000 .Eur |
10,00 |
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 |
|
|
|
|
|
|
|
Tommaso Edison |
, 61 |
- 20099 |
- Sesto San Giovanni |
(MI) |
- IT - |
|
|
|
|
Email |
: WEISSESTAL@LEGALMAIL.IT |
|
- |
Branch |
(Sales office) |
since 18/04/2011 |
|
|
|
|
|
|
San Concordio |
, 639 |
- 55100 |
- Lucca |
(LU) |
- IT - |
|
|
|
|
PHONE |
: 0583317225 |
|
|
|
|
FAX |
: 0583582632 |
|
|
|
|
Email |
: info@weissestal.it |
|
- |
Branch |
(Store) |
since 18/04/2011 |
|
|
|
|
|
Daniele Manin |
, 6 |
- 31059 |
- Zero Branco |
(TV) |
- IT - |
|
|
|
|
Employees |
: 6 |
|
Stocks for a value of 210.000 |
Eur |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Muzzini |
Elena |
|
|
|
Born in Milano |
(MI) |
on 22/09/1970 |
- Fiscal Code : MZZLNE70P62F205Z |
|
|
|
Residence: |
|
Ungheria |
, 24 |
- 20138 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
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
The activity has only recently
started.
On the base of the latest 2
financial accounts, an economic-financial analysis has been developped.
In the economic management ,
good and bad results followed on by turns. with a negative economic result in
the last financial year. Upward trend as to the turnover in the last financial
year (more then 100%).
The operating result is
negative.
The operating result is negative
(Eur. -6.635).
With regard to GOM, subject
closed 2011 financial account with a negative result (Eur. -2.703).
The company has an excellent net
worth if compared to its debts, with a low indebtedness (0,37)
Subject can manage an equity
capital funds for an amount of Eur. 246.480 , with an upward trend.
Total indebtedness amounts to
Eur. 445.642, , showing an upward trend if compared to 2010.
Moderate recourse to bank credit
while the exposure towards suppliers is rather high and higher than sector's
average.
Liquidity is good (1,6)
As to due from customers, the
average terms are 59,66 days. , that compared to the sector's average is
shorter.
Cash flow is negative at the end
of financial year 2011.
During 2011 financial year
labour costs amounted to Eur. 139.779, with a 12,36% incidence on production
costs. , whereas the incidence on sales revenues is of 15,7%.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
890.528 |
|
Profit (Loss) for the period |
-14.156 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
450 |
|
Profit (Loss) for the period |
-2.001 |
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 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
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|
RATIOS |
Value
Type |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,03 |
0,14 |
0,09 |
|
Elasticity Ratio |
Units |
0,97 |
0,38 |
0,89 |
|
Availability of stock |
Units |
0,28 |
n.c. |
0,26 |
|
Total Liquidity Ratio |
Units |
0,69 |
0,38 |
0,54 |
|
Quick Ratio |
Units |
0,48 |
0,30 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,37 |
n.c. |
3,95 |
|
Self Financing Ratio |
Units |
0,34 |
n.c. |
0,17 |
|
Capital protection Ratio |
Units |
1,02 |
n.c. |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,07 |
n.c. |
0,10 |
|
Financing |
Units |
1,81 |
n.c. |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,38 |
n.c. |
0,29 |
|
M/L term Debts Ratio |
Units |
0,04 |
n.c. |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
1,04 |
|
CORRELATION |
|
|
|
|
|
Fixed assets ratio |
Units |
14,72 |
n.c. |
2,37 |
|
Current ratio |
Units |
1,60 |
0,22 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,14 |
0,22 |
0,80 |
|
Structure's primary quotient |
Units |
13,09 |
n.c. |
1,48 |
|
Treasury's primary quotient |
Units |
0,79 |
0,17 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
296,42 |
n.c. |
602,26 |
|
Current Capital ( net ) |
Value |
266.141 |
-14.015 |
191.984 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
-1,15 |
-444,67 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-5,74 |
n.c. |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-2,69 |
n.c. |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
-0,91 |
-18,95 |
4,18 |
|
Return/ Sales |
% |
-0,75 |
-444,00 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
27,96 |
|
Cash Flow |
Value |
-10.224 |
-2.001 |
44.823 |
|
Operating Profit |
Value |
-6.635 |
-1.998 |
74.603 |
|
Gross Operating Margin |
Value |
-2.703 |
-1.998 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
Credits to clients average term |
Days |
59,66 |
n.c. |
113,70 |
|
Debts to suppliers average term |
Days |
149,38 |
3417,54 |
118,14 |
|
Average stock waiting period |
Days |
83,19 |
n.c. |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,22 |
0,04 |
1,25 |
|
Rate of stock return |
Units |
4,33 |
n.c. |
4,88 |
|
Labour cost incidence |
% |
15,70 |
n.c. |
8,14 |
|
Net financial revenues/ charges incidence |
% |
0,00 |
-0,89 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
12,36 |
n.c. |
8,25 |
|
Short-term financing charges |
% |
n.c. |
0,03 |
2,76 |
|
Capital on hand |
% |
82,04 |
2342,67 |
79,85 |
|
Sales pro employee |
Value |
222.632 |
|
397.742 |
|
Labour cost pro employee |
Value |
34.944 |
|
33.267 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.