MIRA INFORM REPORT
|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KA.BO.FER. S.R.L. |
|
|
|
|
Registered Office : |
Via Papina, 8 20043 – Arcore (MB) – IT - |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.09.1988 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale of ironmongery and other metals |
|
|
|
|
No. of Employees : |
from 1 to 5 |
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 |
|
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 and address
|
Ka.bo.fer.
s.r.l. |
|
Via |
Papina, |
8 |
|
20043 |
- Arcore |
(MB) |
-IT- |
Summary
|
Fiscal Code |
: |
09146500153 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/09/1988 |
|
Equity |
: |
Unknown. |
|
Turnover Range |
: |
6.500.000/7.750.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Wholesale of ironmongery and other
metals (hardware)
Legal Data
Legal Form : Limited liability
company
|
Fiscal Code : 09146500153 |
|
Foreign Trade Reg. no. :
MB026297 since 24/12/1991 |
|
Foreign Trade Reg. no. : 72658
of since 24/12/1991 |
|
Foreign Trade Reg. no. : 072658
of since 24/12/1991 |
|
Chamber of Commerce no. :
1278688 of since 20/07/2007 |
|
Chamber of Commerce no. :
1278688 of since 06/06/1988 |
|
Firms' Register : MI149-39009
of since 19/02/1996 |
|
V.A.T. Code : 00944250968 |
|
Tribunal Co. Register : 39009
of since 20/04/1988 |
|
Foundation date |
: 10/02/1988 |
|
|
Establishment date |
: 10/02/1988 |
|
|
Start of Activities |
: 01/09/1988 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 10.400 |
|
|
Subscribed Capital |
: 10.400 |
|
|
Paid up Capital |
: 10.400 |
|
Members
|
|
Borner |
Karl
Hermann |
|
|
|
Born in Essen |
( ) |
on 23/05/1942 |
- Fiscal Code :
BRNKLH42E23Z112O |
|
|
|
Residence: |
|
Cornaggia |
, 3 I.6 |
- 23807 |
Merate |
(LC) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Board Chairman |
24/11/2004 |
|
|
|
Director |
24/11/2004 |
|
|
|
Managing Director |
16/12/2004 |
|
|
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Wrede |
Edda
Elisabeth |
|
|
|
Born in Dohna Dresden |
( ) |
on 19/12/1944 |
- Fiscal Code :
WRDDLS44T59Z111U |
|
|
|
Residence: |
|
Cornaggia |
, 3 I.6 |
- 23807 |
Merate |
(LC) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
31/08/2007 |
|
|
|
|
No Protests
registered |
|
|
Borner |
Kai
Uwe |
|
|
|
Born in Bruxelles |
( ) |
on 28/07/1972 |
- Fiscal Code :
BRNKWA72L28Z103P |
|
|
|
Residence: |
|
Del Campell |
, 5 |
- 20866 |
Carnate |
(MB) |
- IT - |
|
Position |
Since |
Shares
Amount |
% Ownership |
|
Managing Director |
16/12/2004 |
|
|
|
Director |
24/11/2004 |
|
|
|
Assistant board Chairman |
16/12/2004 |
|
|
|
|
No
Prejudicial events are reported |
|
|
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.
|
|
Borner |
Karl
Hermann |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
KARL BORNER DI BORNER KARL
HERMANN |
Monza MI - IT - |
|
Proprietor |
Active |
Registered |
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 |
|
Borner Karl Hermann |
Merate - IT - |
BRNKLH42E23Z112O |
5.200
.Eur |
50,00 |
|
Wrede Edda Elisabeth |
Merate - IT - |
WRDDLS44T59Z111U |
1.040
.Eur |
10,00 |
|
Borner Kai Uwe |
Carnate - IT - |
BRNKWA72L28Z103P |
4.160
.Eur |
40,00 |
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 |
|
since 01/09/1988 |
|
|
|
|
|
|
Papina |
, 8 |
- 20043 |
- Arcore |
(MB) |
- IT - |
|
|
|
|
Employees |
: 2 |
|
Fittings and Equipment for a
value of 52.000 |
Eur |
|
Stocks for a value of 770.000 |
Eur |
|
Furniture and fittings for a
value of 15.000 |
Eur |
|
Vehicles for a value of 31.000
|
Eur |
The firm has a direct commercial
organization
Sales area on a regional scale.
|
|
The firm operates abroad as
importer / exporter..
To purchase foreign products the
firm uses the following channels :
|
- national or foreign
important buyers |
|
- direct orders to foreign
companies |
Export represents from 20% to
50% of the global turnover.
Products abroad are placed by :
|
- national or foreign
important buyers |
|
- direct orders from foreign
companies |
Import comes generally from the
following nations:
|
- Germany |
|
- Austria |
|
- France |
|
- Belgium |
Historical Information and/or Firm's
Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Borner
Karl Hermann |
|
|
on 23/05/1942 |
- Fiscal Code :
BRNKLM42E23Z112O |
|
|
|
Fiscal residence: |
|
del Campell |
, 5 |
- 20040 |
Carnate |
(MB) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Borner |
Karl
Hermann |
|
|
|
Born in Essen |
( ) |
on 23/05/1942 |
- Fiscal Code :
BRNKLH42E23Z112O |
|
|
|
Residence: |
|
Cornaggia |
, 3 I.6 |
- 23807 |
Merate |
(LC) |
- 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
Subject is active since 1988
The economic-financial analysis
has been made on the base of the b/s of the latests three years.
During the last years, the
subject company registered net losses.
The operating result was
positive in the last financial year (0,47%) falling within the field's average.
The amount of the operating
result for the year 2011 is of Eur. 12.056 with a -79,83% drop.
During the latest financial year
the gross operating margin amounted to Eur. 33.757 showing a downward trend as
opposed to the previous year.
Unbalanced financial position :
net worth does not cover debts; the gearing ratio is in fact high and
increasing if compared to the previous year.
The equity capital amount is
lower than the economic results.
Eur. 2.602.058 is the amount of
total debts, both commercial and of different nature, increasing if compared to
the previous year, during which they were equal to Eur. 1.886.825 (37,9%).
The recourse to suppliers'
credit is limited and lower than sector's average
Available funds are not so good
(0,98).
Trade credits average terms are
65,15 days. , shorter than the sector's average.
Managerial cash flow has a minus
sign and is equal to Eur. -32.956.
During 2011 financial year
labour costs amounted to Eur. 86.672, with a 1,14% incidence on production
costs. , whereas the incidence of such costs on sales revenues is equal to
1,13%.
The incidence of the financial
charges is of -0,61% on the sales amount.
Financial Data
|
|
|
Complete balance-sheet for the
year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.647.835 |
|
Profit (Loss) for the period |
-54.657 |
|
|
|
Complete balance-sheet for the
year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.297.725 |
|
Profit (Loss) for the period |
-19.390 |
|
|
|
Complete balance-sheet for the
year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.725.641 |
|
Profit (Loss) for the period |
-54.815 |
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 |
|
-
Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as
at 31/12/2011 |
as
at 31/12/2010 |
as
at 31/12/2009 |
Sector
Average |
|
COMPOSITION
ON INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,01 |
0,02 |
0,04 |
0,11 |
|
Elasticity Ratio |
Units |
0,98 |
0,97 |
0,95 |
0,87 |
|
Availability of stock |
Units |
0,30 |
0,24 |
0,24 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,69 |
0,72 |
0,71 |
0,56 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,18 |
0,02 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
205,44 |
n.c. |
3,81 |
|
Self Financing Ratio |
Units |
n.c. |
0,00 |
n.c. |
0,17 |
|
Capital protection Ratio |
Units |
n.c. |
1,99 |
n.c. |
0,65 |
|
Liabilities consolidation
quotient |
Units |
0,01 |
0,02 |
0,02 |
0,12 |
|
Financing |
Units |
n.c. |
207,96 |
n.c. |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
n.c. |
0,02 |
n.c. |
0,30 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,02 |
0,02 |
0,07 |
|
Net Financial Indebtedness
Ratio |
Units |
n.c. |
79,08 |
n.c. |
1,28 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
n.c. |
1,07 |
n.c. |
2,06 |
|
Current ratio |
Units |
0,98 |
0,99 |
0,95 |
1,16 |
|
Acid Test Ratio-Liquidity
Ratio |
Units |
0,68 |
0,74 |
0,71 |
0,84 |
|
Structure's primary quotient |
Units |
n.c. |
0,25 |
n.c. |
1,28 |
|
Treasury's primary quotient |
Units |
0,00 |
0,01 |
0,18 |
0,03 |
|
Rate of indebtedness ( Leverage
) |
% |
n.c. |
21242,47 |
n.c. |
591,61 |
|
Current Capital ( net ) |
Value |
-56.539 |
-25.556 |
-83.787 |
219.071 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
-0,43 |
0,07 |
-0,76 |
2,22 |
|
Return on Equity - Net- (
R.O.E. ) |
% |
n.c. |
-213,71 |
n.c. |
6,27 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
n.c. |
183,82 |
n.c. |
15,95 |
|
Return on Investment ( R.O.I.
) |
% |
0,47 |
3,10 |
0,59 |
4,19 |
|
Return/ Sales |
% |
0,16 |
0,82 |
0,21 |
3,42 |
|
Extra Management revenues/charges
incid. |
% |
-453,36 |
-32,43 |
-565,51 |
29,26 |
|
Cash Flow |
Value |
-32.956 |
5.276 |
-35.729 |
61.669 |
|
Operating Profit |
Value |
12.056 |
59.790 |
9.693 |
95.558 |
|
Gross Operating Margin |
Value |
33.757 |
84.456 |
31.522 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average
term |
Days |
65,15 |
60,83 |
59,81 |
120,94 |
|
Debts to suppliers average
term |
Days |
45,47 |
52,02 |
56,85 |
120,04 |
|
Average stock waiting period |
Days |
36,21 |
23,18 |
30,24 |
61,92 |
|
Rate of capital employed
return ( Turnover ) |
Units |
2,95 |
3,79 |
2,88 |
1,27 |
|
Rate of stock return |
Units |
9,94 |
15,53 |
11,91 |
5,74 |
|
Labour cost incidence |
% |
1,13 |
1,03 |
1,69 |
7,77 |
|
Net financial revenues/
charges incidence |
% |
-0,61 |
-0,60 |
-1,01 |
-1,26 |
|
Labour cost on purchasing
expenses |
% |
1,14 |
1,04 |
1,70 |
7,90 |
|
Short-term financing charges |
% |
1,80 |
2,32 |
2,90 |
2,67 |
|
Capital on hand |
% |
33,87 |
26,41 |
34,77 |
78,39 |
|
Sales pro employee |
Value |
3.823.917 |
3.648.862 |
1.575.213 |
437.713 |
|
Labour cost pro employee |
Value |
43.336 |
37.628 |
26.686 |
33.928 |
Market
/ Territory Data
|
Population living in the
province |
: |
|
|
Population living in the
region |
: |
|
|
Number of families in the
region |
: |
|
9.393.092Monthly family expences average
in the region (in .) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a
base of 6.137 significant companies.
The companies cash their credits
on an average of 121 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 62 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.