MIRA INFORM REPORT

 

 

Report Date :

07.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ELDA TRADE SRL

 

 

Registered Office :

 

Via Maestri Del Lavoro 8 Contrada San Pietro Mogliano, 62010

 

 

 

 

Country :

Italy

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

18.02.1988

 

 

 

 

Com. Reg. No.:

01006570434

 

 

 

 

Legal Form :

Private Independent

 

 

 

 

Line of Business :

Manufacture of luggage, handbags and the like, saddlery and harness

 

 

 

 

No. of Employees :

20

 

 

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

(31.03.2011)

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 and address

 

Top of Form

Bottom of Form

Top of Form

 

Elda Trade SRL                                                                                                                          

 

Via Maestri Del Lavoro 8

Contrada San Pietro

 

Mogliano, 62010

Italy

 

 

Tel:

+39 0733 559013

Fax:

+39 0733 559014

 

 

 

Employees:

20

Company Type:

Private Independent

 

 

Incorporation Date:

18-Feb-1988

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2011

Reporting Currency:

Euro

Annual Sales:

10.9

Total Assets:

7.2

                                      

Business Description       

 

Elda Trade SRL is primarily engaged in manufacture of luggage, handbags and the like, of leather, composition leather and of any other materials, such as plastic sheeting, textile materials, vulcanised fibre or paperboard, where the same technology is used as for leather; manufacture of non-metallic watch straps; manufacture of diverse articles of leather or composition leather: driving belts, packings, etc.; and manufacture of saddlery and harness.

            

Industry             

 

Industry

Apparel and Accessories

ANZSIC 2006:

1320 - Leather Tanning, Fur Dressing and Leather Product Manufacturing

NACE 2002:

1920 - Manufacture of luggage, handbags and the like, saddlery and harness

NAICS 2002:

31699 - Other Leather and Allied Product Manufacturing

UK SIC 2003:

1920 - Manufacture of luggage, handbags and the like, saddlery and harness

UK SIC 2007:

1512 - Manufacture of luggage, handbags and the like, saddlery and harness

US SIC 1987:

3199 - Leather Goods, Not Elsewhere Classified

                      

Key Executives           

   

 

Name

Title

Elio Contigiani

Sole administrator

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 Maestri Del Lavoro 8
Contrada San Pietro
Mogliano, 62010
Italy

 

Tel:

+39 0733 559013

Fax:

+39 0733 559014

 

Suggest Company URL

 

Sales EUR(mil):

7.9

Assets EUR(mil):

5.6

Employees:

20

Fiscal Year End:

31-Dec-2011

 

Industry:

Apparel and Accessories

Incorporation Date:

18-Feb-1988

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(ITA):

01006570434

 

Sole administrator:

Elio Contigiani

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

1320

-

Leather Tanning, Fur Dressing and Leather Product Manufacturing

4279

-

Other Store-Based Retailing Not Elsewhere Classified

 

NACE 2002 Codes:

1920

-

Manufacture of luggage, handbags and the like, saddlery and harness

5243

-

Retail sale of footwear and leather goods

 

NAICS 2002 Codes:

31699

-

Other Leather and Allied Product Manufacturing

448

-

Clothing and Clothing Accessories Stores

 

US SIC 1987:

3199

-

Leather Goods, Not Elsewhere Classified

59

-

Miscellaneous Retail

 

UK SIC 2003:

1920

-

Manufacture of luggage, handbags and the like, saddlery and harness

5243

-

Retail sale of footwear and leather goods

 

UK SIC 2007:

1512

-

Manufacture of luggage, handbags and the like, saddlery and harness

4772

-

Retail sale of footwear and leather goods in specialised stores

 

 

Business Description

Elda Trade SRL is primarily engaged in manufacture of luggage, handbags and the like, of leather, composition leather and of any other materials, such as plastic sheeting, textile materials, vulcanised fibre or paperboard, where the same technology is used as for leather; manufacture of non-metallic watch straps; manufacture of diverse articles of leather or composition leather: driving belts, packings, etc.; and manufacture of saddlery and harness.

 

 

 

 

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

7.9

Assets:

5.6

Current Assets:

5.4

 

Total Liabilities:

5.6

 

Net Worth:

2.4

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

6.1%

NA

 

Key Corporate Relationships

Bank:

Banca delle Marche Ag

 

 

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Executives

 

Name

Title

Function

Elio Contigiani

 

Sole administrator

President

 

Annual Profit & Loss

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

Consolidated

No

No

No

 

 

 

 

Total income

11.8

9.6

9.4

Net sales

10.9

9.8

9.4

Other operating income

0.0

0.0

0.1

Raw materials and consumables employed

8.4

6.4

6.0

Other expenses

2.1

1.9

2.2

Total payroll costs

0.7

0.7

0.6

Fixed asset depreciation and amortisation

0.1

0.1

0.1

Other operating costs

0.1

0.1

0.1

Net operating income

0.5

0.5

0.4

Total financial income

0.0

0.0

-0.1

Total expenses

0.1

0.0

0.0

Profit before tax

0.4

0.5

0.2

Extraordinary result

-

-0.2

-

Profit after extraordinary items and before tax

0.4

0.3

0.2

Total taxation

0.2

0.2

0.1

Net profit

0.3

0.1

0.1

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

3.2

3.0

3.1

Provision for pensions

0.2

0.2

0.2

Other long-term liabilities

0.7

0.5

1.1

Other current liabilities

3.2

2.8

1.9

Accruals and deferred income

0.0

0.0

0.0

Total current liabilities

3.2

2.8

1.9

Total liabilities (including net worth)

7.2

6.5

6.3

Intangibles

0.0

0.0

0.0

Total tangible fixed assets

0.2

0.2

0.2

Total financial assets

0.1

0.1

0.1

Receivables due after 1 year

0.0

0.0

0.0

Total non-current assets

0.3

0.3

0.3

Net stocks and work in progress

1.9

1.1

1.4

Other receivables

4.7

4.6

4.3

Cash and liquid assets

0.4

0.5

0.2

Accruals

0.0

0.0

0.0

Total current assets

7.0

6.2

5.9

Total assets

7.2

6.5

6.3

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Current ratio

2.20

2.20

3.20

Quick ratio

1.60

1.80

2.40

Current liabilities to net worth

0.01%

0.01%

0.01%

Sales per employee

-

0.30

0.29

Average wage per employee

-

0.02

0.02

Net worth

3.2

3.0

3.1

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.59

UK Pound

1

Rs.87.31

Euro

1

Rs.69.86

 

 

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.