|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ISOLPACK S.P.A. |
|
|
|
|
Registered Office : |
Corso Vittorio Emanuele Ii, 99 10100 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
02.01.1998 |
|
|
|
|
Com. Reg. No.: |
TO-1998-69 since 02/01/1998 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of metal structures and structure parts |
|
|
|
|
No. of Employees : |
From 51 to 70 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Isolpack S.p.a.
Corso Vittorio Emanuele Ii, 99
10100 Torino (TO) -IT-
|
Fiscal Code |
: |
07439930012 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
02/01/1998 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
50.000.000/75.000.000 Eur |
|
Number of Employees |
: |
from 51 to 70 |
Manufacture of metal structures and structure parts
Forging, drawing, stamping and roll-forming of metal; powder metallurgy
Manufacture of metal forming machinery
Legal Form : Joint stock company
|
Fiscal Code : 07439930012 |
|
Foreign Trade Reg. no. : TO076769 since 23/04/1998 |
|
Chamber of Commerce no. : 1976194 of Milano |
|
Chamber of Commerce no. : 892873 of Torino since 29/12/1997 |
|
Firms' Register : TO-1998-69 since 02/01/1998 |
|
V.A.T. Code : 07439930012 |
|
Foundation date |
: 29/12/1997 |
|
|
Establishment date |
: 29/12/1997 |
|
|
Start of Activities |
: 02/01/1998 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 520.000 |
Eur |
|
Subscribed Capital |
: 520.000 |
Eur |
|
Paid up Capital |
: 520.000 |
Eur |
|
|
Reffo |
Alessandro |
|
|
|
Born in Torino |
(TO) |
on 03/02/1974 |
- Fiscal Code : RFFLSN74B03L219Y |
|
|
|
Residence : |
Largo |
Tirreno |
, 117 |
- 10136 |
Torino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
15/02/2012 |
|
|
|
|
No Protests registered |
|
|
Calvo |
Maurizio |
|
|
|
Born in Casale Monferrato |
(AL) |
on 25/12/1973 |
- Fiscal Code : CLVMRZ73T25B885F |
|
|
|
Residence : |
Via |
Gianoli |
, 5 |
- 15020 |
Murisengo |
(AL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
15/02/2012 |
|
|
|
|
No Protests registered |
*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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Serra Lucia |
Torino - IT - |
SRRLCU23P49F997F |
17.316 .Eur |
3,33 |
|
Ceria Esterino |
Torino - IT - |
CRESRN46R25L219Q |
147.316 .Eur |
28,33 |
|
Ceria Edilberto Antonio |
Torino - IT - |
CREDBR52L29L219B |
147.316 .Eur |
28,33 |
|
Isolpack S.p.a. |
Torino - IT - |
07439930012 |
52.052 .Eur |
10,00 |
|
Fruttuosa S.r.l. |
|
09010360015 |
78.000 .Eur |
15,00 |
|
Robertson Italy S.r.l. |
Torino - IT - |
09010370014 |
78.000 .Eur |
15,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Isolpack S.p.a. |
Torino - IT - |
07439930012 |
52.052 .Eur |
10,00 |
|
|
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and commercial seat |
|
|
|
|
|
|
Corso |
Vittorio Emanuele Ii |
, 99 |
- 10100 |
- Torino |
(TO) |
- IT - |
|
|
|
|
PHONE |
: 011/5607511 |
|
|
|
|
FAX |
: 011/5611713 |
|
- |
Branch |
(Factory ) |
since 01/03/2008 |
|
|
|
|
|
Via |
Nino Bixio |
, 64 |
- 10042 |
- Nichelino |
(TO) |
- IT - |
|
- |
Branch |
(Sales office ) |
since 01/01/2012 |
|
|
|
|
|
Viale |
Toscana |
, 42 |
- 20093 |
- Cologno Monzese |
(MI) |
- IT - |
|
|
|
|
Employees |
: 67 |
|
Fittings and Equipment for a value of 3.750.000 |
Eur |
|
Stocks for a value of 19.270.000 |
Eur |
|
- Ceria Isolpack |
EX-MEMBERS / EX-POSITIONS:
|
|
Macchiorlatti Vignat |
Luigi |
|
|
|
Born in Torino |
on 25/09/1963 |
- Fiscal Code : MCCLGU63P25L219P |
|
|
|
Residence : |
Via |
Giacomo Bove |
, 9 |
- 10129 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Serra |
Lucia |
|
|
|
Born in Odalengo Grande |
on 09/09/1923 |
- Fiscal Code : SRRLCU23P49F997F |
|
|
|
Residence : |
Via |
Pianezza |
, 202 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
|
Ceria |
Esterino |
|
|
|
Born in Torino |
on 25/10/1946 |
- Fiscal Code : CRESRN46R25L219Q |
|
|
|
Residence : |
Corso |
Trieste |
, 29 |
- 10129 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Director |
|
Director |
|
Board Chairman |
|
|
Ceria |
Edilberto Antonio |
|
|
|
Born in Torino |
on 29/07/1952 |
- Fiscal Code : CREDBR52L29L219B |
|
|
|
Residence : |
Strada |
Del Bellardo |
, 45 INT18 |
- 10132 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Director |
|
Director |
|
Managing Director |
|
|
Segre |
Massimo |
|
|
|
Born in Torino |
on 16/11/1959 |
- Fiscal Code : SGRMSM59S16L219U |
|
|
|
Residence : |
Corso |
Trento |
, 12 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Bruna |
Franca |
|
|
|
Born in Savona |
on 27/10/1926 |
- Fiscal Code : BRNFNC26R67I480C |
|
|
|
Residence : |
Corso |
Trento |
, 12 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Lamberto |
Ester |
|
|
|
Born in Diano d'Alba |
on 10/04/1948 |
- Fiscal Code : LMBSTR48D50D291I |
|
|
|
Residence : |
Corso |
Orbassano |
, 356 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Guala |
Carlo Filiberto |
|
|
|
Born in Torino |
on 22/06/1950 |
- Fiscal Code : GLUCLF50H22L219Y |
|
|
|
Residence : |
Via |
G.Piazzi |
, 42 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Director |
|
General Director |
|
|
Mesiano |
Giuseppe |
|
|
|
Born in Carmagnola |
on 13/07/1973 |
- Fiscal Code : MSNGPP73L13B791J |
|
|
|
Residence : |
Corso |
Re Umberto |
, 33 SC B |
- 10100 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Lepore |
Giuseppe |
|
|
|
Born in Lagonegro |
on 30/10/1968 |
- Fiscal Code : LPRGPP68R30E409Q |
|
|
|
Residence : |
Via |
Natale Palli |
, 13 |
- 10147 |
Torino |
(TO) |
- IT - |
|
Ex-Postions |
|
Director |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
Company's starting of activities dates back to 1998.
The eonomic-financial analysis is based on the latest 3 b/s.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 25,27% in 2010 and during the last financial year an
increase in sales volume was registered (+20,38% in 2010).
The return on Investment in the last financial year was positive (6,39%)
and reflects the field's average.
An operating result of Eur. 3.735.266 has been registered. showing an
upward trend 26,17% compared to the previous financial year.
The G.O.M. amounted to Eur. 5.197.457 with a 22,13% growth.
The ratio between debts and total assets is fairly high, as it comes out
from the indebtedness (4,44) but on the decrease if compared to the year
before.
With regard to equity capital, an amount of Eur. 9.471.961 is
registered. , with an upward trend.
In the year 2010 total debts amounted to Eur. 47.491.457 while during
the financial year 2009 the amount was equal to Eur. 35.444.665.
Financial debts as well as debts to suppliers are rather high but lower
than the field average.
It shows a good range of liquidity.
Trade credits average terms are slow, on average 160,78 days. and higher
than the average of the sector.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 3.843.852
Subordinate employment cost is of Eur. 3.086.293, i.e. 4,54% on total
production costs. , whereas 4,36% is the incidence on sales revenues.
The incidence of the financial charges is of -0,05% on the sales amount.
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
70.773.044 |
|
Profit (Loss) for the period |
2.393.524 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
58.788.097 |
|
Profit (Loss) for the period |
1.654.319 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
68.686.395 |
|
Profit (Loss) for the period |
391.304 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
54.625.389 |
|
Profit (Loss) for the period |
298.620 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
48.552.062 |
|
Profit (Loss) for the period |
222.398 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,07 |
0,10 |
0,09 |
0,20 |
|
Elasticity Ratio |
Units |
0,92 |
0,89 |
0,90 |
0,77 |
|
Availability of stock |
Units |
0,33 |
0,40 |
0,37 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,49 |
0,53 |
0,55 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
4,44 |
4,46 |
8,11 |
4,09 |
|
Self Financing Ratio |
Units |
0,16 |
0,16 |
0,10 |
0,15 |
|
Capital protection Ratio |
Units |
0,69 |
0,69 |
0,83 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,13 |
0,12 |
0,11 |
0,16 |
|
Financing |
Units |
5,01 |
5,01 |
8,96 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,26 |
0,25 |
0,18 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,09 |
0,08 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
2,74 |
2,55 |
5,11 |
1,01 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
3,50 |
2,62 |
2,03 |
1,34 |
|
Current ratio |
Units |
1,26 |
1,21 |
1,12 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,81 |
0,67 |
0,66 |
0,85 |
|
Structure's primary quotient |
Units |
2,19 |
1,69 |
1,09 |
0,75 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,01 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
616,99 |
618,73 |
1.023,84 |
660,68 |
|
Current Capital ( net ) |
Value |
11.168.799 |
6.839.023 |
5.474.108 |
80.037 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,43 |
5,00 |
2,21 |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
25,27 |
23,37 |
7,21 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
38,87 |
36,09 |
13,75 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
6,39 |
6,76 |
3,33 |
4,91 |
|
Return/ Sales |
% |
5,28 |
5,04 |
2,70 |
4,60 |
|
Extra Management revenues/charges incid. |
% |
64,08 |
55,88 |
21,13 |
26,08 |
|
Cash Flow |
Value |
3.843.852 |
2.941.560 |
1.516.494 |
67.440 |
|
Operating Profit |
Value |
3.735.266 |
2.960.368 |
1.851.659 |
88.577 |
|
Gross Operating Margin |
Value |
5.197.457 |
4.255.669 |
2.989.087 |
150.352 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
160,78 |
122,54 |
141,23 |
126,77 |
|
Debts to suppliers average term |
Days |
110,60 |
116,52 |
103,02 |
141,48 |
|
Average stock waiting period |
Days |
98,01 |
106,24 |
107,40 |
45,00 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,21 |
1,34 |
1,24 |
1,12 |
|
Rate of stock return |
Units |
3,67 |
3,39 |
3,35 |
7,83 |
|
Labour cost incidence |
% |
4,36 |
4,59 |
4,31 |
20,16 |
|
Net financial revenues/ charges incidence |
% |
- 0,05 |
- 0,83 |
- 1,66 |
- 1,63 |
|
Labour cost on purchasing expenses |
% |
4,54 |
4,80 |
4,49 |
20,64 |
|
Short-term financing charges |
% |
0,13 |
1,48 |
2,45 |
2,63 |
|
Capital on hand |
% |
82,58 |
74,50 |
80,85 |
89,16 |
|
Sales pro employee |
Value |
1.123.381 |
948.195 |
1.184.248 |
163.688 |
|
Labour cost pro employee |
Value |
48.988 |
43.526 |
50.984 |
32.485 |
|
Population living in the province |
: |
2.236.941 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
The values are calculated on a base of 3.053 significant companies.
The companies cash their credits on an average of 126 dd.
The average duration of suppliers debts is about 141 dd.
The sector's profitability is on an average of 3,45%.
The labour cost affects the turnover in the measure of 20,16%.
Goods are held in stock in a range of 45 dd.
The difference between the sales volume and the resources used to
realize it is about 1,12.
The employees costs represent the 20,64% of the production costs.
The area is statistically considered moderately risky.
In the region 27.019 protested subjects are found; in the province they
count to 16.723.
The insolvency index for the region is 0,63, , while for the province it
is 0,76.
Total Bankrupt companies in the province : 7.726.
Total Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.71 |
|
|
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 SCs 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.