MIRA
INFORM REPORT
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Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
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Name : |
LACCESSORIO SRL |
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Registered Office : |
Via Vittorio Alfieri 88, Campi Bisenzio, 50013 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.12.1990 |
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Com. Reg. No.: |
01582410971 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Subject is engaged in retail sale of adults’ fur and leather clothing; retail sale of children’s and infants’ clothing; retail sale of other women’s clothing; and retail sale of footwear and leather goods |
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No. of Employees : |
33 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Italy |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company name & address
Laccessorio SRL
Via Vittorio Alfieri 88
Campi Bisenzio, 50013
Italy
Tel: +39 0558 966250
Fax: +39 0558 90604
synthesis
Employees: 33
Company Type: Private Subsidiary
Corporate Family: 2
Companies
Ultimate Parent: PRATOALTA
SAPA DI SARTI ROBERTO E C.
Incorporation Date:
18-Dec-1990
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 33.0
Total Assets: 28.7
Business Description
Laccessorio SRL is primarily engaged in retail sale of adults’ fur and leather clothing; retail sale of children’s and infants’ clothing; retail sale of other women’s clothing; and retail sale of footwear and leather goods.
Industry
Industry Retail (Apparel)
ANZSIC 2006: 4251 - Clothing
Retailing
NACE 2002: 5242 - Retail sale
of clothing
NAICS 2002: 4481 - Clothing
Stores
UK SIC 2003: 5242 - Retail sale
of clothing
UK SIC 2007: 4771 - Retail sale
of clothing in specialised stores
US SIC 1987: 5651 - Family
Clothing Stores
Key Executives
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Name |
Title |
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Monica Sarti |
President |
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Anna Gabriella Lucchesi |
Member of the board |
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Federico Sarti |
Member of the board |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Via Vittorio Alfieri 88
Campi Bisenzio, 50013
Italy
Tel: +39 0558 966250
Fax: +39 0558 90604
Sales EUR(mil): 23.8
Assets EUR(mil): 22.1
Employees: 33
Fiscal Year End: 31-Dec-2011
Industry: Retail
(Apparel)
Incorporation Date: 18-Dec-1990
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 01582410971
President: Monica
Sarti
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
4251 - Clothing Retailing
1351 - Clothing Manufacturing
NACE 2002 Codes:
5242 - Retail sale of clothing
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
NAICS 2002 Codes:
4481 - Clothing Stores
31599 - Apparel Accessories and Other Apparel Manufacturing
US SIC 1987:
5651 - Family Clothing Stores
2389 - Apparel and Accessories, Not Elsewhere Classified
UK SIC 2003:
5242 - Retail sale of clothing
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
UK SIC 2007:
4771 - Retail sale of clothing in specialised stores
1419 - Manufacture of other wearing apparel and accessories n.e.c.
Business
Description
Laccessorio SRL is primarily engaged in retail sale of adults’ fur and leather clothing; retail sale of children’s and infants’ clothing; retail sale of other women’s clothing; and retail sale of footwear and leather goods.
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Corporate Family |
Corporate
Structure News: |
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Laccessorio
SRL |
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Laccessorio SRL |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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PRATOALTA SAPA DI SARTI
ROBERTO E C. |
Parent |
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Laccessorio SRL |
Subsidiary |
Campi Bisenzio, Firenze |
Italy |
Retail (Apparel) |
33.0 |
35 |
Executive report
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Board
of Directors |
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Executives |
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President |
President |
Annual Profit
& Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
35.1 |
25.2 |
23.3 |
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Net sales |
33.0 |
25.2 |
22.7 |
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Other operating income |
0.1 |
0.1 |
0.1 |
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Raw materials and consumables employed |
7.7 |
5.7 |
4.8 |
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Other expenses |
14.3 |
10.2 |
10.3 |
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Total payroll costs |
2.1 |
1.9 |
1.7 |
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Fixed asset depreciation and amortisation |
0.4 |
0.1 |
0.2 |
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Other operating costs |
0.6 |
0.4 |
0.5 |
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Net operating
income |
10.0 |
7.0 |
5.7 |
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Total financial
income |
0.2 |
0.1 |
0.0 |
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Total expenses |
- |
0.0 |
- |
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Profit before tax |
10.2 |
7.1 |
5.8 |
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Extraordinary result |
- |
- |
-0.1 |
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Profit after extraordinary items and
before tax |
10.2 |
7.1 |
5.7 |
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Total taxation |
3.3 |
2.3 |
1.9 |
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Net profit |
6.9 |
4.8 |
3.7 |
Annual Balance
Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
18.8 |
12.8 |
8.5 |
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Provision for risks |
1.9 |
1.5 |
1.6 |
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Provision for pensions |
0.3 |
0.3 |
0.3 |
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Trade creditors |
5.8 |
4.4 |
4.2 |
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Other current liabilities |
1.6 |
1.0 |
1.1 |
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Accruals and deferred income |
0.1 |
0.1 |
0.1 |
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Total current
liabilities |
7.6 |
5.5 |
5.4 |
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Total
liabilities (including net worth) |
28.7 |
20.2 |
15.8 |
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Intangibles |
0.3 |
- |
0.0 |
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Total tangible
fixed assets |
0.5 |
0.3 |
0.3 |
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Total financial
assets |
0.9 |
0.0 |
0.0 |
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Receivables due after 1 year |
- |
- |
0.0 |
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Total
non-current assets |
1.7 |
0.3 |
0.3 |
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Finished goods |
3.9 |
2.1 |
2.4 |
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Net stocks and work in progress |
5.8 |
3.7 |
3.7 |
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Trade debtors |
4.0 |
2.9 |
3.1 |
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Other receivables |
1.0 |
0.7 |
0.7 |
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Cash and liquid assets |
15.9 |
12.5 |
7.9 |
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Accruals |
0.1 |
0.0 |
0.0 |
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Total current
assets |
26.9 |
19.8 |
15.4 |
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Total assets |
28.7 |
20.2 |
15.8 |
Annual Ratios
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
3.60 |
3.60 |
2.90 |
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Quick ratio |
2.80 |
2.90 |
2.20 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.01% |
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Sales per employee |
0.72 |
0.64 |
0.56 |
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Profit per employee |
0.22 |
0.18 |
0.15 |
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Average wage per employee |
0.05 |
0.05 |
0.04 |
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Net worth |
18.8 |
12.8 |
8.5 |
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Number of employees |
33 |
30 |
28 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
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UK Pound |
1 |
Rs.89.11 |
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Euro |
1 |
Rs.72.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.