MIRA INFORM REPORT

 

 

Report Date :

06.12.2013

 

IDENTIFICATION DETAILS

 

Name :

LATTONEDIL S.P.A.

 

 

Registered Office :

Viale Luigi Majno, 26,

20100- Milano (MI) 

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

08.11.1993

 

 

Com. Reg. No.:

MI146-339389 of Milano since 19/02/1996

 

 

Legal Form :

Joint stock company with sole shareholder

 

 

Line of Business :

·         producer of  best insulated sandwich panels insulated with polyurethane roofing and insulation

·         Manufacturer of other builders` carpentry and joinery products

 

 

No. of Employees :

from 111 to 130

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

TATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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, highly subsidized, agricultural south, where unemployment is high. 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 its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. 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 sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.

 

Source : CIA

 

 

 

 

Company name & address

 

Lattonedil S.p.A.

 

Viale Luigi Majno, 26

 

20100 - Milano (MI) -IT-

 

 

Summary

 

Fiscal Code

:

11055280157

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

10/01/1994

Equity

:

Over 2.582.254

Turnover Range

:

100.000.000/150.000.000

Number of Employees

:

from 111 to 130

 

 

Activity

 

·         producer of  best insulated sandwich panels insulated with polyurethane roofing and insulation

·         Manufacturer of other builders` carpentry and joinery products

 

Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 11055280157

 

Foreign Trade Reg. no. : MI215984 since 21/10/1994

 

Chamber of Commerce no. : 240701 of Como

 

Chamber of Commerce no. : 1430495 of Milano since 02/12/1993

 

Firms' Register : MI146-339389 of Milano since 19/02/1996

 

V.A.T. Code : 11055280157

 

Foundation date

: 08/11/1993

Establishment date

: 08/11/1993

Start of Activities

: 10/01/1994

Legal duration

: 31/12/2030

Nominal Capital

: 3.000.000

 

Subscribed Capital

: 3.000.000

 

Paid up Capital

: 3.000.000

 




Members

 

Bettio

Giulietto

 

 

Born in Casalserugo

(PD)

on 27/05/1953

- Fiscal Code : BTTGTT53E27B912O

 

 

Residence:

 

Enrico Brambilla

, 22

- 22063

Cantu'

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

27/04/2012

 

 

Director

27/04/2012

 

 

Managing Director

28/05/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Bettio

Ettore

 

 

Born in Casalserugo

(PD)

on 20/11/1945

- Fiscal Code : BTTTTR45S20B912K

 

 

Residence:

 

Privata Della Chiocciol

, 9

- 22060

Carimate

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/04/2012

 

 

 

No Protests registered

 

Bettio

Silvano

 

 

Born in Padova

(PD)

on 24/06/1947

- Fiscal Code : BTTSVN47H24G224K

 

 

Residence:

 

Privata Del Cavalluccio

, 12

- 22060

Carimate

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/04/2012

 

 

Managing Director

28/05/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Bettio

Giovanni

 

 

Born in Casalserugo

(PD)

on 22/02/1951

- Fiscal Code : BTTGNN51B22B912R

 

 

Residence:

 

Carlo Cattaneo

, 74

- 22063

Cantu'

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/04/2012

 

 

 

No Protests registered

 

Bettio

Sergio

 

 

Born in Cantu'

(CO)

on 21/09/1961

- Fiscal Code : BTTSRG61P21B639W

 

 

Residence:

 

Como

, 208

- 22063

Cantu'

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/04/2012

 

 

Managing Director

28/05/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Lattonedil Italia Holding S.r.l.

 

 

 

 

 

:

 

Tommasi Grossi

, 31

- 22066

Mariano Comense

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

29/07/2008

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Bettio

Fabrizio

 

 

Born in Cantu'

(CO)

on 14/04/1977

- Fiscal Code : BTTFRZ77D14B639W

 

 

Residence:

 

Carlo Cattaneo

, 46/A

- 22063

Cantu'

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

08/10/2009

 

 

 

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.

 

Bettio

Giulietto

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Lattonedil - S.n.c. Dei F.lli Bettio

Mariano Comense (CO) - IT -

01257570133

Partner

Active

Registered

Bar Aurora Di Bettio Giovanni E C. S.a.s. In Liquidazione

Cantu' (CO) - IT -

01753460136

Limited Partner

Withdrawn

Ceased

Albren Di Bettio Ettore Ec. Sas

Monza (MB) - IT -

03307490155

Limited Partner

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Managing Director

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Director

Active

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Managing Director

Active

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Director

Active

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Managing Director

Withdrawn

Registered

Lattonedil Italia Holding S.r.l.

Mariano Comense (CO) - IT -

03138670132

Managing Director

Active

Registered

B Quattro Holding S.r.l.

Mariano Comense (CO) - IT -

03428580132

Sole Director

Active

Registered

 

Bettio

Silvano

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Lattonedil - S.n.c. Dei F.lli Bettio

Mariano Comense (CO) - IT -

01257570133

Partner

Active

Registered

B. Service S.r.l.

Mariano Comense (CO) - IT -

02487370138

Managing Director

Active

Registered

B. Service S.r.l.

Mariano Comense (CO) - IT -

02487370138

Responsible technician

Active

Registered

B. Service S.r.l.

Mariano Comense (CO) - IT -

02487370138

Board Chairman

Active

Registered

Albren Di Bettio Ettore Ec. Sas

Monza (MB) - IT -

03307490155

Limited Partner

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Managing Director

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Director

Active

Registered

Lattonedil Italia Holding S.r.l.

Mariano Comense (CO) - IT -

03138670132

Director

Active

Registered

Immobiliare S.anna S.r.l.

Mariano Comense (CO) - IT -

03241820137

Sole Director

Active

Registered

B Due Holding S.r.l.

Mariano Comense (CO) - IT -

03428540136

Sole Director

Active

Registered

 

Bettio

Sergio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Lattonedil - S.n.c. Dei F.lli Bettio

Mariano Comense (CO) - IT -

01257570133

Partner

Active

Registered

Edilzucchi S.r.l.

Sondrio (SO) - IT -

00596090142

Board Chairman

Withdrawn

Ceased

Z Immobiliare S.r.l.

Sondrio (SO) - IT -

00645340142

Board Chairman

Withdrawn

Ceased

B. Service S.r.l.

Mariano Comense (CO) - IT -

02487370138

Attorney with special power

Active

Registered

Immobiliare Jolly S.r.l. In Liquidazione

Mariano Comense (CO) - IT -

02487360139

Liquidator

Withdrawn

Ceased

Pur Systems Italia S.r.l.

Milano (MI) - IT -

05392010962

Sole Director

Withdrawn

Registered

Bar Aurora Di Bettio Giovanni E C. S.a.s. In Liquidazione

Cantu' (CO) - IT -

01753460136

Limited Partner

Withdrawn

Ceased

Albren Di Bettio Ettore Ec. Sas

Monza (MB) - IT -

03307490155

Limited Partner

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Managing Director

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Director

Active

Registered

Stonedil Solo5 S.r.l.

Milano (MI) - IT -

05932920969

Board Chairman

Active

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Managing Director

Active

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Director

Active

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Responsible technician

Withdrawn

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Managing Director

Withdrawn

Registered

Adria Plm S.p.a.

Udine (UD) - IT -

02457190300

Board Chairman

Active

Registered

Immobiliare Cinque S.r.l.

Mariano Comense (CO) - IT -

01391520135

Sole Director

Withdrawn

Registered

Lattonedil Italia Holding S.r.l.

Mariano Comense (CO) - IT -

03138670132

Director

Active

Registered

Immobiliare Due Isole S.r.l.

Mariano Comense (CO) - IT -

03246380137

Sole Director

Active

Registered

B Cinque Holding S.r.l.

Mariano Comense (CO) - IT -

03428590131

Sole Director

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

Lattonedil Italia Holding S.r.l.

Mariano Comense - IT -

03138670132

 

100,00



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

Adria Plm S.p.a.

Udine - IT -

02457190300

384.000 .Eur

16,00

 

 

Active

Stonedil Solo5 S.r.l.

Milano - IT -

05932920969

49.560 .Eur

42,00

 

 

Active

DONINELLI LUIGI- S.R.L.

Cantu' - IT -

00805490133

49.920 .Eur

100,00

 

 

Active

"Koper S.R.L."

Carimate - IT -

02394460139

378.300 .Eur

75,00

 

 

Active

Pur Systems Italia S.r.l.

Milano - IT -

05392010962

51.000 .Eur

51,00

 

 

Active

Ecott S.r.l.

 

05076760965

100.000 .Eur

100,00

 

 

Active



Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

 

 

 

 

 

 

Luigi Majno

, 26

- 20100

- Milano

(MI)

- IT -

 

 

 

 

Email

: LATTONEDIL@PEC.LATTONEDIL.IT

 

-

Branch

(Factory)

since 10/01/1994

 

 

 

 

 

 

Degli Artigiani

, 14

- 22060

- Carimate

(CO)

- IT -

 

 

 

 

PHONE

: 031791377

 

 

 

 

FAX

: 031791690

 

-

Branch

(Warehouse)

since 10/04/2007

 

 

 

 

 

 

Stazione

, 18

- 22060

- Carimate

(CO)

- IT -

 

-

Branch

(Warehouse)

since 16/04/2007

 

 

 

 

 

 

Degli Artigiani

, 3-5

- 22060

- Carimate

(CO)

- IT -

 

-

Branch

(Warehouse)

since 01/04/2010

 

 

 

 

 

 

G. Da Cermenate

, 71

- 22063

- Cantu'

(CO)

- IT -

 

-

Branch

(Warehouse)

since 01/10/2007

 

 

 

 

 

 

Degli Artigiani

, 20

- 22060

- Carimate

(CO)

- IT -

 

 

 

 

Employees

: 120

 

Fittings and Equipment for a value of 1.520.000

Eur

 

Stocks for a value of 21.190.000

Eur

 

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Manara

Rita

 

 

Born in Melazzo

(AL)

on 11/06/1945

- Fiscal Code : MNRRTI45H51F096O

 

 

Residence:

 

Quadronno

, 12

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Bettio

Giulietto

 

 

Born in Casalserugo

(PD)

on 27/05/1953

- Fiscal Code : BTTGTT53E27B912O

 

 

Residence:

 

Enrico Brambilla

, 22

- 22063

Cantu'

(CO)

- IT -

 

Ex-Postions

Sole Director

Managing Director

Responsible technician

 

Bettio

Silvano

 

 

Born in Padova

(PD)

on 24/06/1947

- Fiscal Code : BTTSVN47H24G224K

 

 

Residence:

 

Privata Del Cavalluccio

, 12

- 22060

Carimate

(CO)

- IT -

 

Ex-Postions

Managing Director

 

Bettio

Sergio

 

 

Born in Cantu'

(CO)

on 21/09/1961

- Fiscal Code : BTTSRG61P21B639W

 

 

Residence:

 

Como

, 208

- 22063

Cantu'

(CO)

- IT -

 

Ex-Postions

Managing Director

 

Marelli

Stefano

 

 

Born in Cantu'

(CO)

on 05/10/1969

- Fiscal Code : MRLSFN69R05B639M

 

 

Residence:

 

Airoldi

, 11

- 22060

Carimate

(CO)

- IT -

 

Ex-Postions

Temporary Auditor

 

Fava

Domenico

 

 

Born in Milano

(MI)

on 11/10/1966

- Fiscal Code : FVADNC66R11F205J

 

 

Residence:

 

Vittor Pisani

, 27

- 20124

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Vegetti

Giulio

 

 

Born in Monza

(MB)

on 14/10/1932

- Fiscal Code : VGTGLI32R14F704C

 

 

Residence:

 

Buonarroti

, 146

- 20052

Monza

(MB)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.



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:

 

Legal Mortgage on 16/03/2011. for an amount of 70.947 Euro.

  EQUITALIA ESATRI S. P. A.



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

 

Company's starting of activities dates back to 1994.

An eco-fin analysis has been made on the base od the b/s fo the years 2010, 2011 and 2012.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 5,18% in 2012 but without a significant increase in the turnover.

The operating result in 2012 was positive (1,91%) and in line with the sector's average.

The amount of the operating result for the year 2012 is of Eur. 1.854.558 with a -63,94% fall as against the year 2011.

The gross operating margin of the latest financial year is of Eur. 3.119.682 showing a drop (-51,57%).

The ratio between shareholder's equity and borrowed capital is not well balanced, the indebtedness level is equal to 5,89 increasing as against 2011.

The equity capital is equal to Eur. 12.706.058 on the same levels as the year before.

During the last financial year debts totalled Eur. 82.736.826 (Eur. 4.737.778 of which were m/l term debts) on the same levels as the year before.

Financial debts as well as debts to suppliers are rather high even if it is lower than the sector's average.

It shows a good range of liquidity.

Trade credits are collected slowly, average term is 146,41 days. also in relation to the average of the sector.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 1.922.690

During 2012 financial year labour costs amounted to Eur. 5.779.081, with a 4,54% incidence on production costs. , with a 4,5% incidence on turnover.

If compared to the sales volume (-0,37%), the impact of the financial charges is limited.


Financial Data

 

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

128.508.247

Profit (Loss) for the period

657.566

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

137.428.971

Profit (Loss) for the period

2.123.854

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

139.139.251

Profit (Loss) for the period

5.451.375

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

99.915.252

Profit (Loss) for the period

2.145.981

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

105.475.920

Profit (Loss) for the period

3.105.225


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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1

 

- 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

 

Years

2012

2011

2010

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

163

414

745

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

 

807

 

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

 

 

 

. Total Intangible Fixed Assets

163

1.221

745

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

260.935

175.890

89.282

. . Plant and machinery

1.521.818

1.504.044

1.473.439

. . Industrial and commercial equipment

 

 

 

. . Other assets

64.395

72.965

38.436

. . Assets under construction and advances

 

3.020

60.002

. Total Tangible fixed assets

1.847.148

1.755.919

1.661.159

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

5.396.212

4.744.064

4.177.384

. . . Equity invest. in subsidiary companies

5.296.681

4.742.183

4.175.514

. . . Equity invest. in associated companies

96.650

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

2.881

1.881

1.870

. . Financial receivables

2.324.492

1.015.486

341.150

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

2.324.492

1.015.486

341.150

. . . Receivab due from subsidiaries

1.983.342

674.336

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

1.983.342

674.336

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

341.150

341.150

341.150

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

341.150

341.150

341.150

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

7.720.704

5.759.550

4.518.534

Total fixed assets

9.568.015

7.516.690

6.180.438

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

19.426.157

15.577.265

17.177.753

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

1.760.205

1.572.601

1.293.947

. . Advance payments

 

 

 

. Total Inventories

21.186.362

17.149.866

18.471.700

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

61.132.554

60.633.171

69.278.427

. . Beyond 12 months

1.075.221

1.647.714

75.178

. . Trade receivables

52.264.069

56.835.947

63.379.363

. . . . Within 12 months

52.264.069

56.835.947

63.379.363

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

3.134.868

3.188.382

4.518.973

. . . . Within 12 months

2.384.868

1.660.348

4.518.973

. . . . Beyond 12 months

750.000

1.528.034

 

. . Receivables due from assoc. comp.

4.245.227

 

 

. . . . Within 12 months

4.245.227

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

6.762

5.940

 

. . . . Within 12 months

6.762

 

 

. . . . Beyond 12 months

 

5.940

 

. . Fiscal Receivables

1.115.108

709.049

75.178

. . . . Within 12 months

789.887

595.309

 

. . . . Beyond 12 months

325.221

113.740

75.178

. . Receivables for anticipated taxes

948.338

952.649

861.674

. . . . Within 12 months

948.338

952.649

861.674

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

493.403

588.918

518.417

. . . . Within 12 months

493.403

588.918

518.417

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

62.207.775

62.280.885

69.353.605

. FINANCIAL ASSETS

 

 

 

. . Equity invest. in subsidiary comp.

 

 

 

. . Equity invest. in associated companies

 

 

 

. . Equity invest. in holding companies

 

 

 

. . Other equity investments

 

 

 

. . Own shares

 

 

 

. . . Total nominale value

 

 

 

. . Other securities

 

 

 

. Total Financial Assets

 

 

 

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

3.194.474

3.700.511

2.387.670

. . Checks

 

 

 

. . Banknotes and coins

16.826

2.695

2.846

. Total Liquid funds

3.211.300

3.703.206

2.390.516

Total current assets

86.605.437

83.133.957

90.215.821

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

822.069

883.971

959.823

Total adjustments accounts

822.069

883.971

959.823

TOTAL ASSETS

96.995.521

91.534.618

97.356.082

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

3.000.000

3.000.000

3.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

726.878

726.878

454.310

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

8.321.614

6.697.759

4.038.952

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

657.566

2.123.854

5.451.375

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

12.706.058

12.548.491

12.944.637

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

273.248

367.680

311.236

. . Taxation fund, also differed

992.706

1.003.951

1.110.829

. . Other funds

128.762

150.000

150.000

Total Reserves for Risks and Charges

1.394.716

1.521.631

1.572.065

Employee termination indemnities

133.225

150.252

153.919

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

77.999.048

69.639.711

76.544.900

. . . . Beyond 12 months

4.737.778

7.627.168

6.064.346

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

48.672.773

47.436.417

38.139.679

. . . . Within 12 months

43.934.995

39.809.249

32.075.333

. . . . Beyond 12 months

4.737.778

7.627.168

6.064.346

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

154.347

158.465

289.211

. . . . Within 12 months

154.347

158.465

289.211

. . . . Beyond 12 months

 

 

 

. . Trade payables

27.633.449

22.682.637

36.556.558

. . . . Within 12 months

27.633.449

22.682.637

36.556.558

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

4.736.639

4.891.490

3.516.736

. . . . Within 12 months

4.736.639

4.891.490

3.516.736

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

1.037.636

 

. . . . Within 12 months

 

1.037.636

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

286.043

140.870

2.845.769

. . . . Within 12 months

286.043

140.870

2.845.769

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

362.157

294.106

238.082

. . . . Within 12 months

362.157

294.106

238.082

. . . . Beyond 12 months

 

 

 

. . Other payables

891.418

625.258

1.023.211

. . . . Within 12 months

891.418

625.258

1.023.211

. . . . Beyond 12 months

 

 

 

Total accounts payable

82.736.826

77.266.879

82.609.246

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

24.696

47.365

76.215

Total adjustment accounts

24.696

47.365

76.215

TOTAL LIABILITIES

96.995.521

91.534.618

97.356.082

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

128.508.247

137.428.971

139.139.251

. Changes in work in progress

187.604

278.654

-395.311

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

585.625

373.297

450.123

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

585.625

373.297

450.123

Total value of production

129.281.476

138.080.922

139.194.063

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

103.245.989

102.754.261

99.746.329

. Services received

19.208.799

20.035.210

20.276.984

. Leases and rentals

1.721.113

1.702.588

1.600.345

. Payroll and related costs

5.779.081

5.434.307

4.965.627

. . Wages and salaries

4.203.417

4.010.104

3.611.488

. . Social security contributions

1.315.984

1.190.690

1.153.457

. . Employee termination indemnities

250.760

233.342

200.605

. . Pension and similar

 

 

 

. . Other costs

8.920

171

77

. Amortization and depreciation

1.265.124

1.297.503

2.456.364

. . Amortization of intangible fixed assets

1.058

1.138

2.805

. . Amortization of tangible fixed assets

474.086

541.475

782.129

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

789.980

754.890

1.671.430

. Changes in raw materials

-3.848.895

1.600.489

-528.404

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

55.707

112.384

83.391

Total production costs

127.426.918

132.936.742

128.600.636

Diff. between value and cost of product.

1.854.558

5.144.180

10.593.427

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

550.007

7

45.944

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

174.335

122.451

43.943

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

 

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

 

 

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-1.195.961

-1.178.137

-624.351

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-471.619

-1.055.679

-534.464

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

. . Of financ.fixed assets not repres.E.I.

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

 

 

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

 

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

433.784

218.390

267.180

. . Gains on disposals

 

 

 

. . Other extraordinary income

433.784

218.390

267.180

. Extraordinary expense

-637.692

-563.557

-1.324.059

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

-1.110.829

. . Other extraordinary expense

-637.692

-563.557

-213.230

Total extraordinary income and expense

-203.908

-345.167

-1.056.879

Results before income taxes

1.179.031

3.743.334

9.002.084

. Taxes on current income

521.465

1.619.480

3.550.709

. . current taxes

517.154

1.710.455

3.771.496

. . differed taxes(anticip.)

4.311

-90.975

-220.787

. Net income for the period

657.566

2.123.854

5.451.375

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

657.566

2.123.854

5.451.375

 

RATIOS

Value Type

as at 31/12/2012

as at 31/12/2011

as at 31/12/2010

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,10

0,08

0,06

0,23

Elasticity Ratio

Units

0,89

0,91

0,93

0,75

Availability of stock

Units

0,22

0,19

0,19

0,19

Total Liquidity Ratio

Units

0,67

0,72

0,74

0,46

Quick Ratio

Units

0,03

0,04

0,02

0,02

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

5,89

5,25

5,73

3,53

Self Financing Ratio

Units

0,13

0,14

0,13

0,18

Capital protection Ratio

Units

0,71

0,59

0,35

0,74

Liabilities consolidation quotient

Units

0,06

0,11

0,08

0,19

Financing

Units

6,51

6,16

6,38

4,24

Permanent Indebtedness Ratio

Units

0,18

0,22

0,20

0,33

M/L term Debts Ratio

Units

0,05

0,08

0,06

0,11

Net Financial Indebtedness Ratio

Units

3,58

3,49

2,76

1,11

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,84

2,70

3,10

1,20

Current ratio

Units

1,11

1,19

1,18

1,07

Acid Test Ratio-Liquidity Ratio

Units

0,84

0,95

0,94

0,76

Structure's primary quotient

Units

1,33

1,67

2,09

0,71

Treasury's primary quotient

Units

0,04

0,05

0,03

0,03

Rate of indebtedness ( Leverage )

%

763,38

729,45

752,10

570,55

Current Capital ( net )

Value

8.606.389

13.494.246

13.670.921

75.064

RETURN

 

 

 

 

 

Return on Sales

%

1,50

2,49

5,68

3,19

Return on Equity - Net- ( R.O.E. )

%

5,18

16,93

42,11

3,20

Return on Equity - Gross - ( R.O.E. )

%

9,28

29,83

69,54

11,58

Return on Investment ( R.O.I. )

%

1,91

5,62

10,88

3,86

Return/ Sales

%

1,44

3,74

7,61

4,18

Extra Management revenues/charges incid.

%

35,46

41,29

51,46

18,85

Cash Flow

Value

1.922.690

3.421.357

7.907.739

63.415

Operating Profit

Value

1.854.558

5.144.180

10.593.427

78.946

Gross Operating Margin

Value

3.119.682

6.441.683

13.049.791

163.908

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

146,41

148,88

163,98

110,14

Debts to suppliers average term

Days

93,84

82,74

118,61

125,02

Average stock waiting period

Days

59,35

44,92

47,79

68,56

Rate of capital employed return ( Turnover )

Units

1,32

1,50

1,43

1,00

Rate of stock return

Units

6,07

8,01

7,53

5,15

Labour cost incidence

%

4,50

3,95

3,57

16,61

Net financial revenues/ charges incidence

%

-0,37

-0,77

-0,38

-1,99

Labour cost on purchasing expenses

%

4,54

4,09

3,86

16,95

Short-term financing charges

%

1,45

1,52

0,76

2,95

Capital on hand

%

75,48

66,61

69,97

99,54

Sales pro employee

Value

977.249

1.315.109

1.346.291

179.348

Labour cost pro employee

Value

43.947

52.002

48.046

32.046

 

 

Market / Territory Data

 

Population living in the province

:

3.839.216

Population living in the region

:

9.393.092

Number of families in the region

:

3.858.736

 

Monthly family expenses average in the region (in Eur..) :

 

- per food products

:

460

- per non food products

:

2.090

- per energy consume

:

114



Sector Data

 

The values are calculated on a base of 1.333 significant companies.

 

The companies cash their credits on an average of 110 dd.

The average duration of suppliers debts is about 125 dd.

The sector's profitability is on an average of 3,19%.

The labour cost affects the turnover in the measure of 16,61%.

Goods are held in stock in a range of 69 dd.

The difference between the sales volume and the resources used to realize it is about 1,00.

The employees costs represent the 16,95% of the production costs.



Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 24.765.

The insolvency index for the region is 0,55, , while for the province it is 0,66.

Total Bankrupt companies in the province : 22.523.

Total Bankrupt companies in the region : 39.612.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.69

UK Pound

1

Rs.101.08

Euro

1

Rs.84.07

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.