MIRA INFORM REPORT
|
Report Date : |
19.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
FERRARI S.R.L. |
|
|
|
|
Registered Office : |
Via A. Grandi, 29, 48100 - Ravenna (RA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
08.03.1990 |
|
|
|
|
Com. Reg. No.: |
RA014-14067 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
General Mechanics |
|
|
|
|
No. of Employees
: |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
200.000 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 – September 30th, 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 & address
Ferrari S.r.l.
Via A. Grandi, 29
48100 - Ravenna (RA) -IT-
Summary
|
Fiscal Code |
: |
01134740396 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
30/06/1990 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
15.500.000/18.000.000 Eur |
|
Number of Employees |
: |
from 36 to 50 |
Credit Analysis
|
Credit Opinion |
: |
200.000 - Eur |
Activity
General mechanics
Wholesale of hardware, plumbing
and heating equipment and supplies
Retail sale of hardware, paints,
flat glass and building materials i
n specialised stores
Retail sale of agricultural
machinery, equipment and products; garde
ning machinery and equipment
Legal Data
Legal Form : Limited liability
company
|
Fiscal Code : 01134740396 |
|
Foreign Trade Reg. no. : RA003417 since
14/01/1992 |
|
Foreign Trade Reg. no. : 3417 of Ravenna
since 14/01/1992 |
|
Foreign Trade Reg. no. : 003417 of Ravenna
since 14/01/1992 |
|
Chamber of Commerce no. : 122802 of
Ravenna since 11/04/1990 |
|
Firms' Register : RA014-14067 since
19/02/1996 |
|
V.A.T. Code : 01134740396 |
|
Tribunal Co. Register : 14067 of Ravenna
since 30/03/1990 |
|
Foundation date |
: 08/03/1990 |
|
|
Establishment date |
: 08/03/1990 |
|
|
Start of Activities |
: 30/06/1990 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 46.800 |
Eur |
|
Subscribed Capital |
: 46.800 |
Eur |
|
Paid up Capital |
: 46.800 |
Eur |
Members
|
|
Ferrari |
Alberto |
|
|
|
Born in Ravenna |
(RA) |
on 23/02/1929 |
- Fiscal Code : FRRLRT29B23H199G |
|
|
|
Residence : |
Via |
Maggiore |
, 13 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/12/2006 |
|
|
|
Board Chairman |
14/12/2006 |
|
|
|
|
No Protests
registered |
|
|
Ferrari |
Claudia |
|
|
|
Born in Ravenna |
(RA) |
on 25/07/1957 |
- Fiscal Code : FRRCLD57L65H199X |
|
|
|
Residence : |
Via |
San Gaetanino |
, 11 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/12/2006 |
|
|
|
Managing Director |
22/01/2008 |
|
|
|
|
No Protests
registered |
|
|
Calcagno |
Elena |
|
|
|
Born in Perugia |
(PG) |
on 22/04/1959 |
- Fiscal Code : CLCLNE59D62G478H |
|
|
|
Residence : |
Via |
Sintria |
, 34 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2008 |
|
|
|
|
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.
|
|
FERRARI |
ALBERTO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
FEDERICO DI E. FERRARI E FIGLIO S.R.L. |
Ravenna (RA) - IT - |
00082050394 |
Sole Director |
Withdrawn |
Ceased |
|
FEDERICO DI E. FERRARI E FIGLIO S.R.L. |
Ravenna (RA) - IT - |
00082050394 |
Legal Owners'
representative |
Withdrawn |
Ceased |
|
FERRARI ALBERTO |
Ravenna (RA) - IT - |
FRRLRT29B23H199G |
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 |
|
Ferrari Claudia |
Ravenna - IT - |
FRRCLD57L65H199X |
24.336 .Eur |
52,00 |
|
Boscolo Celeste |
|
BSCCST01L71H199C |
22.464 .Eur |
48,00 |
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 |
|
C.u.ra. Consorzio Utilities Ravenna
Societa' Consortile A Responsabilita' Limita |
Ravenna - IT - |
02019950399 |
250 .Eur |
0,81 |
|
|
Active |
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 20/04/1990 |
|
|
|
|
|
Via |
A.grandi |
, 29 |
- 48100 |
- Ravenna |
(RA) |
- IT - |
|
|
|
|
Total Surface: 150 Sq.mt. |
|
|
|
|
PHONE |
: 0544/452962 |
|
|
|
|
PHONE |
: 0544/608311 |
|
|
|
|
FAX |
: 0544/451801 |
|
- |
Branch |
(Warehouse ) |
since 18/05/2011 |
|
|
|
|
|
Via |
Bruno Buozzi |
, 30 |
- 48100 |
- Ravenna |
(RA) |
- IT - |
|
|
|
|
Employees |
: 44 |
|
Fittings and Equipment for a value of
570.000 |
Eur |
|
Stocks for a value of 2.130.000 |
Eur |
|
|
The firm operates abroad as
importer / exporter. .
To purchase foreign products the
firm uses the following channels :
|
- direct orders to foreign companies |
Export represents up to 20% of
the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Francia |
|
- Belgio |
|
- Austria |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Ferrari |
Alberto |
|
|
|
Born in Ravenna |
on 23/02/1929 |
- Fiscal Code : FRRLRT29B23H199G |
|
|
|
Residence : |
Via |
Maggiore |
, 13 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
Legal Owners' representative |
|
|
Ferrari |
Caterina |
|
|
|
Born in Ravenna |
on 13/07/1959 |
- Fiscal Code : FRRCRN59L53H199G |
|
|
|
Residence : |
Via |
Cella |
, 111/A |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Director |
|
Assistant board Chairman |
|
|
Ragusa |
Michele |
|
|
|
Born in Ravenna |
on 24/04/1957 |
- Fiscal Code : RGSMHL57D24H199L |
|
|
|
Residence : |
Via |
Mangagnina |
, 49 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Chiaravalli |
Marina |
|
|
|
Born in Ravenna |
on 20/05/1959 |
- Fiscal Code : CHRMRN59E60H199Y |
|
|
|
Residence : |
Via |
Quarto |
, 44 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|||||||||
|
Permanent Auditor |
|||||||||
|
|
Chiaravalli |
Fabrizio |
|
|
|
Born in Ravenna |
on 22/01/1966 |
- Fiscal Code : CHRFRZ66A22H199U |
|
|
|
Residence : |
Via |
Bosca |
, 7/A |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Silei |
Alessandro |
|
|
|
Born in Ravenna |
on 14/02/1956 |
- Fiscal Code : SLILSN56B14H199O |
|
|
|
Residence : |
Via |
El Alamein |
, 6 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Benelli |
Anna |
|
|
|
Born in Ravenna |
on 21/12/1947 |
- Fiscal Code : BNLNNA47T61H199T |
|
|
|
Residence : |
Via |
Oriani |
, 45 |
- 48100 |
Ravenna |
(RA) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm
absorved |
|
|
|
Federico Di E.
Ferrari E Figlio S.r.l. |
|
|
|
Via |
A.grandi |
, 29 |
, 48100 |
, Ravenna |
(RA) |
- IT - |
|
|
|
Fiscal Code: 00082050394 |
|
|
|
Date |
: |
29/06/1990 |
|
|
The firm
absorbed by merging of |
|
|
|
Federico Di E.
Ferrari E Figlio S.r.l. |
|
|
|
Via |
A.grandi |
, 29 |
, 48100 |
, Ravenna |
(RA) |
- IT - |
|
|
|
Fiscal Code: 00082050394 |
|
|
|
Date |
: |
29/06/1990 |
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
Subject is active since 1990
The analysis is based on the
latest 3 balance sheets.
Under an economic point of view,
profits were registered during the last years with a r.o.e. of 9,54% in 2010
The operating result was
positive in the last financial year (6,84%) and reflects the field's average.
The amount of the operating
result for the year 2010 is of Eur. 1.026.086 recording a drop as opposed to
the year before (-38,83%).
During the latest financial year
the gross operating margin amounted to Eur. 1.356.329 with a -33,18% fall.
From a financial aspect the
company's status covers total short-term debts; the indebtedness volume in 2010
is in fact 0,84 lower than in 2009.
The equity capital is equal to
Eur. 6.259.401 on the same levels as the year before.
Total debts recorded amounted to
Eur. 7.985.985 (Eur. 582.698 of which were m/l term debts) showing a stable
trend as opposed to 2009 (Eur. 8.513.936).
Financial debts exposure is
under control while the recourse to commercial credit is rather frequent however
still within the sector's average.
The available funds are good.
Accounts receivable average term
is high (145,72 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. 927.608
During 2010 financial year
labour costs amounted to Eur. 1.612.814, with a 10,08% incidence on production
costs. and a 9,57% incidence on sales volumes.
The financial management has a
limited economic impact, equal to -0,31% on the sales.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
16.856.385 |
|
Profit (Loss) for the period |
597.365 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
18.527.718 |
|
Profit (Loss) for the period |
1.039.891 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
27.454.318 |
|
Profit (Loss) for the period |
2.101.713 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
23.892.765 |
|
Profit (Loss) for the period |
1.360.464 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
18.681.318 |
|
Profit (Loss) for the period |
842.705 |
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 |
0,19 |
0,21 |
0,11 |
0,11 |
|
Elasticity Ratio |
Units |
0,81 |
0,79 |
0,89 |
0,87 |
|
Availability of stock |
Units |
0,14 |
0,13 |
0,19 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,67 |
0,66 |
0,70 |
0,56 |
|
Quick Ratio |
Units |
0,14 |
0,16 |
0,10 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,84 |
0,89 |
2,30 |
3,81 |
|
Self Financing Ratio |
Units |
0,42 |
0,38 |
0,25 |
0,17 |
|
Capital protection Ratio |
Units |
0,90 |
0,81 |
0,55 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,20 |
0,11 |
0,12 |
|
Financing |
Units |
1,28 |
1,50 |
2,90 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,49 |
0,48 |
0,32 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,07 |
0,10 |
0,07 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,13 |
0,21 |
0,67 |
1,28 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,58 |
2,32 |
2,91 |
2,06 |
|
Current ratio |
Units |
1,64 |
1,58 |
1,34 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,35 |
1,32 |
1,06 |
0,84 |
|
Structure's primary quotient |
Units |
2,20 |
1,83 |
2,24 |
1,28 |
|
Treasury's primary quotient |
Units |
0,29 |
0,32 |
0,15 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
239,79 |
263,13 |
405,28 |
591,61 |
|
Current Capital ( net ) |
Value |
4.746.185 |
4.330.604 |
4.297.670 |
219.071 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,50 |
7,51 |
8,59 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
9,54 |
18,37 |
44,27 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
15,63 |
28,48 |
68,02 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
6,84 |
11,26 |
17,84 |
4,19 |
|
Return/ Sales |
% |
6,09 |
9,05 |
12,50 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
58,22 |
61,99 |
61,23 |
29,26 |
|
Cash Flow |
Value |
927.608 |
1.392.172 |
2.357.190 |
61.669 |
|
Operating Profit |
Value |
1.026.086 |
1.677.555 |
3.432.636 |
95.558 |
|
Gross Operating Margin |
Value |
1.356.329 |
2.029.836 |
3.688.957 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
145,72 |
117,56 |
128,76 |
120,94 |
|
Debts to suppliers average term |
Days |
117,82 |
114,84 |
131,67 |
120,04 |
|
Average stock waiting period |
Days |
45,45 |
37,36 |
46,71 |
61,92 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,12 |
1,24 |
1,43 |
1,27 |
|
Rate of stock return |
Units |
7,92 |
9,64 |
7,71 |
5,74 |
|
Labour cost incidence |
% |
9,57 |
8,46 |
6,09 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
- 0,31 |
- 0,43 |
- 0,82 |
- 1,26 |
|
Labour cost on purchasing expenses |
% |
10,08 |
9,21 |
6,89 |
7,90 |
|
Short-term financing charges |
% |
0,72 |
0,93 |
1,63 |
2,67 |
|
Capital on hand |
% |
89,04 |
80,41 |
70,08 |
78,39 |
|
Sales pro employee |
Value |
411.131 |
378.116 |
527.967 |
437.713 |
|
Labour cost pro employee |
Value |
39.336 |
32.001 |
32.146 |
33.928 |
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:
200.000
Eur.
Market / Territory Data
|
Population living in the province |
: |
365.369 |
|
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 120 dd.
The average duration of
suppliers debts is about 120 dd.
The sector's profitability is on
an average of 2,22%.
The labour cost affects the
turnover in the measure of 7,77%.
Goods are held in stock in a
range of 61 dd.
The difference between the sales
volume and the resources used to realize it is about 1,27.
The employees costs represent
the 7,90% 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 2.146.
The insolvency index for the
region is 0,46, , while for the province it is 0,60.
Total Bankrupt companies in the
province : 1.073.
Total Bankrupt companies in the region
: 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.67 |
|
UK Pound |
1 |
Rs.77.72 |
|
Euro |
1 |
Rs.64.63 |
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.