MIRA
INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
COTONIFICIO SUCCESSORI ALCESTE PASTA S.P.A. |
|
|
|
|
Registered Office : |
Via Gaetano Bottini, 1 21013 –
Gallarate (VA) -IT- |
|
|
|
|
Country : |
Italy |
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|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.10.1938 |
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|
Legal Form : |
Joint stock company |
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|
|
Line of Business : |
Manufacture of Textiles |
|
|
|
|
No. of Employees : |
fom 6 to 10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
|
With Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 nmae
COTONIFICIO SUCCESSORI ALCESTE PASTA S.P.A.
Via Gaetano Bottini, 1
21013 - Gallarate (VA) -IT-
Summary
|
Fiscal Code |
: |
00187950126 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
25/10/1938 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
MANUFACTURE OF TEXTILES
Weaving of textiles
Wholesale of textiles
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00187950126 |
|
Foreign Trade Reg. no. : VA012693 since 30/12/1991 |
|
Foreign Trade Reg. no. : 12693 of since 30/12/1991 |
|
Foreign Trade Reg. no. : 012693 of since 30/12/1991 |
|
Chamber of Commerce no. : 207405 of |
|
Chamber of Commerce no. : 207405 of |
|
Chamber of Commerce no. : 30787 of since 07/11/1938 |
|
Firms' Register : VA026-3136 of since 19/02/1996 |
|
V.A.T. Code : 00187950126 |
|
Tribunal Co. Register : 3136 of |
|
Foundation date |
: 25/10/1938 |
|
|
Establishment date |
: 25/10/1938 |
|
|
Start of Activities |
: 25/10/1938 |
|
|
Legal duration |
: 31/12/2034 |
|
|
Nominal Capital |
: 2.100.000 |
|
|
Subscribed Capital |
: 2.100.000 |
|
|
Paid up Capital |
: 2.100.000 |
|
Members
|
|
Pastorelli |
Dante |
|
|
|
Born in Verbania |
(NO) |
on 23/05/1944 |
- Fiscal Code : PSTDNT44E23L746Z |
|
|
|
Residence: |
|
Bottini |
, 1 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pastorelli |
Franca |
|
|
|
Born in Milano |
(MI) |
on 10/11/1952 |
- Fiscal Code : PSTFNC52S50F205O |
|
|
|
Residence: |
|
M.croci |
, 2 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
29/06/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Testa |
Giorgio |
|
|
|
Born in Gallarate |
(VA) |
on 24/02/1942 |
- Fiscal Code : TSTGRG42B24D869H |
|
|
|
Residence: |
|
Mentana |
, 8 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pastorelli |
Luigi |
|
|
|
Born in Milano |
(MI) |
on 17/07/1951 |
- Fiscal Code : PSTLGU51L17F205K |
|
|
|
Residence: |
|
S. Cristoforo |
, 1 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies connected to members *
*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.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Pastorelli Franca |
Gallarate - IT - |
PSTFNC52S50F205O |
1.050.000 .Eur |
50,00 |
|
Tinacle s.a.s. di Contini Clementina |
Como - IT - |
02199140134 |
525.000 .Eur |
25,00 |
|
Pastorelli Luigi |
Gallarate - IT - |
PSTLGU51L17F205K |
525.000 .Eur |
25,00 |
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 |
|
Promindustria S.p.a. |
Varese - IT - |
01590180129 |
25.088 .Eur |
0,68 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Gaetano Bottini |
, 1 |
- 21013 |
- Gallarate |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0331796181 |
|
|
|
|
PHONE |
: 0331910022 |
|
|
|
|
FAX |
: 0331953343 |
|
- |
Branch |
(Factory) |
since 21/11/1991 |
|
|
|
|
|
|
Guglielmo Marconi |
, 65 |
- 21018 |
- Osmate Lentate |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0331910022 |
|
|
|
|
Employees |
: 7 |
|
Fittings and Equipment for a value of 70.000 |
Eur |
|
Stocks for a value of 2.910.000 |
Eur |
|
Furniture and fittings for a value of 53.000 |
Eur |
|
Vehicles for a value of 160.000 |
Eur |
Historical Information and/or
Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Cagnola |
Fabrizio |
|
|
|
Born in Gallarate |
(VA) |
on 09/05/1942 |
- Fiscal Code : CGNFRZ42E09D869D |
|
|
|
Residence: |
|
S. Rocco |
, 35 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Auditor |
|
|
Pastorelli |
Dante |
|
|
|
Born in Verbania |
(NO) |
on 23/05/1944 |
- Fiscal Code : PSTDNT44E23L746Z |
|
|
|
Residence: |
|
Bottini |
, 1 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Procurator |
|
|
Cagnola |
Fabrizio |
|
|
|
Born in Gallarate |
(VA) |
on 09/05/1942 |
- Fiscal Code : CGNFRZ42E09D869D |
|
|
|
Residence: |
|
San Rocco |
, 35 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Verotta |
Angelo |
|
|
|
Born in Gallarate |
(VA) |
on 21/10/1913 |
- Fiscal Code : VRTNGL13R21D869M |
|
|
|
Residence: |
|
Curioni |
, 16 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
|
|
Pastorelli |
Paolo |
|
|
|
Born in Gallarate |
(VA) |
on 06/01/1943 |
- Fiscal Code : PSTPLA43A06D869B |
|
|
|
Residence: |
|
Domenico Vandelli |
, 20 |
- 22100 |
Como |
(CO) |
- IT - |
|
Ex-Postions |
|
Sales director |
|
Assistant board Chairman |
|
Director |
|
|
Pastorelli |
Franca |
|
|
|
Born in Milano |
(MI) |
on 10/11/1952 |
- Fiscal Code : PSTFNC52S50F205O |
|
|
|
Residence: |
|
M.croci |
, 2 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
|
Chiaravalle |
Giorgio |
|
|
|
Born in Casorate Sempione |
(VA) |
on 10/05/1935 |
- Fiscal Code : CHRGRG35E10B987G |
|
|
|
Residence: |
|
Milano |
, 168 |
- 21011 |
Casorate Sempione |
(VA) |
- IT - |
|
Ex-Postions |
|
Auditor |
|
|
Bossi |
Marco |
|
|
|
Born in Cantu' |
(CO) |
on 12/03/1958 |
- Fiscal Code : BSSMRC58C12B639U |
|
|
|
Residence: |
|
Dei Pini |
, 4 |
- 21040 |
Venegono Inferiore |
(VA) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Gnocchi |
Luigi |
|
|
|
Born in Gallarate |
(VA) |
on 14/01/1933 |
- Fiscal Code : GNCLGU33A14D869T |
|
|
|
Residence: |
|
Piave |
, 3 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Riva |
Roberto |
|
|
|
Born in Bosisio Parini |
(CO) |
on 26/10/1961 |
- Fiscal Code : RVIRRT61R26B081N |
|
|
|
Residence: |
|
Loc. Pra' Filippo |
, 59 |
- 22021 |
Bellagio |
(CO) |
- IT - |
|
Ex-Postions |
|
Auditor |
|
|
Querci |
Maria Rosa |
|
|
|
Born in Como |
(CO) |
on 27/04/1945 |
- Fiscal Code : QRCMRS45D67C933N |
|
|
|
Residence: |
|
Morazzone |
, 17 |
- 22100 |
Como |
(CO) |
- IT - |
|
Ex-Postions |
|
Auditor |
|
|
Pastorelli |
Luigi |
|
|
|
Born in Milano |
(MI) |
on 17/07/1951 |
|
Ex-Postions |
|
Procurator |
|
|
Testa |
Giorgio |
|
|
|
Born in Gallarate |
(VA) |
on 24/02/1942 |
|
Ex-Postions |
|
Procurator |
|
|
Testa |
Giorgio |
|
|
|
Born in Gallarate |
(VA) |
on 24/02/1942 |
|
Ex-Postions |
|
Procurator |
|
|
Colmegna |
Corrado |
|
|
|
Born in Como |
(CO) |
on 03/04/1968 |
- Fiscal Code : CLMCRD68D03C933N |
|
|
|
Residence: |
|
Moreschi |
, 11 |
- 22072 |
Cermenate |
(CO) |
- IT - |
|
Ex-Postions |
|
Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Splitting-up project and setting-up of new co |
|
|
|
Date |
Merging/Splitting-up Project-New Company: |
03/11/2011 |
|
|
Splitting-up and setting-up of a new company |
|
|
|
|
|
|
|
, Cantu' |
- IT - |
|
|
|
Date |
Splitting-up: |
28/03/2012 |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA POPOLARE DI MILANO |
|
|
|
|
5584 |
0 |
Financial and Economical Analysis
The company is active since 1938
An eco-fin analysis has been made on the base od the b/s fo the years
2009, 2010 and 2011.
In the economic management , good and bad results followed on by turns.
yet with a positive result in the 2011 (r.o.e. 1,22%). The turnover is growing
in the last financial year (+18,85%).
The operating result in 2011 was positive (3,65%) and in line with the
sector's average.
The amount of the operating result is equal to Eur. 375.030 showing an
upward trend more then 100% compared to the previous financial year.
The G.O.M. amounted to Eur. 534.872 showing a more then 100% growth.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,86) increasing compared to last year (0,83)
With regard to equity capital, an amount of Eur. 3.193.106 is
registered. on the same levels as the year before.
Total indebtedness was equal to Eur. 6.947.273 (Eur. 4.165.685 was the
value of m/l term debts) , with no sensible variation.
Both financial indebtedness as well as exsposure to suplliers are rated
as fairly high and higher than sector's average.
Neverthless available funds are good.
As far as the collection of credit goes, the average is high (182,53
days). even if compared to the average of the sector.
During financial year 2011 the cash flow amounted to Eur. 198.815
Subordinate employment cost is of Eur. 318.298, i.e. 5,9% on total
production costs. and a 6,11% incidence on sales volumes.
Finacial chareges are high: the incidence on sales volume amounts to
-4,21%
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.211.140 |
|
Profit (Loss) for the period |
38.973 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.384.314 |
|
Profit (Loss) for the period |
-79.907 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.238.664 |
|
Profit (Loss) for the period |
-172.805 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.109.437 |
|
Profit (Loss) for the period |
59.186 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.815.754 |
|
Profit (Loss) for the period |
-395.794 |
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 |
0,38 |
0,40 |
0,41 |
0,22 |
|
Elasticity Ratio |
Units |
0,62 |
0,60 |
0,59 |
0,75 |
|
Availability of stock |
Units |
0,28 |
0,24 |
0,28 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,33 |
0,36 |
0,31 |
0,45 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,00 |
0,02 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,86 |
0,83 |
0,82 |
1,65 |
|
Self Financing Ratio |
Units |
0,31 |
0,31 |
0,31 |
0,30 |
|
Capital protection Ratio |
Units |
0,02 |
0,05 |
0,10 |
0,79 |
|
Liabilities consolidation quotient |
Units |
1,54 |
1,59 |
1,68 |
0,20 |
|
Financing |
Units |
2,18 |
2,19 |
2,16 |
2,05 |
|
Permanent Indebtedness Ratio |
Units |
0,73 |
0,73 |
0,74 |
0,45 |
|
M/L term Debts Ratio |
Units |
0,42 |
0,42 |
0,43 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
1,29 |
1,21 |
n.c. |
0,57 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,89 |
1,84 |
1,82 |
1,60 |
|
Current ratio |
Units |
2,27 |
2,26 |
2,30 |
1,27 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,23 |
1,34 |
1,21 |
0,84 |
|
Structure's primary quotient |
Units |
0,81 |
0,77 |
0,76 |
1,11 |
|
Treasury's primary quotient |
Units |
0,01 |
0,05 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
321,60 |
325,04 |
321,18 |
327,18 |
|
Current Capital ( net ) |
Value |
3.540.471 |
3.434.042 |
3.484.939 |
870.113 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,82 |
1,85 |
-0,24 |
1,60 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,22 |
-2,53 |
-5,34 |
0,47 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
4,63 |
-4,76 |
-4,87 |
2,85 |
|
Return on Investment ( R.O.I. ) |
% |
3,65 |
0,48 |
0,42 |
2,55 |
|
Return/ Sales |
% |
7,20 |
1,11 |
1,02 |
2,66 |
|
Extra Management revenues/charges incid. |
% |
10,39 |
-163,98 |
-399,87 |
14,76 |
|
Cash Flow |
Value |
198.815 |
81.081 |
-10.075 |
47.325 |
|
Operating Profit |
Value |
375.030 |
48.729 |
43.215 |
69.715 |
|
Gross Operating Margin |
Value |
534.872 |
209.717 |
205.945 |
147.816 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
182,53 |
217,91 |
n.c. |
114,56 |
|
Debts to suppliers average term |
Days |
188,67 |
277,44 |
n.c. |
113,59 |
|
Average stock waiting period |
Days |
200,80 |
206,11 |
247,32 |
93,83 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,51 |
0,43 |
0,41 |
0,96 |
|
Rate of stock return |
Units |
1,79 |
1,75 |
1,46 |
3,84 |
|
Labour cost incidence |
% |
6,11 |
8,14 |
8,65 |
15,62 |
|
Net financial revenues/ charges incidence |
% |
-4,21 |
-4,58 |
-4,98 |
-1,87 |
|
Labour cost on purchasing expenses |
% |
5,90 |
8,82 |
8,49 |
14,72 |
|
Short-term financing charges |
% |
3,22 |
2,92 |
3,05 |
3,34 |
|
Capital on hand |
% |
197,06 |
233,84 |
245,05 |
104,51 |
|
Sales pro employee |
Value |
579.015 |
412.447 |
385.333 |
218.478 |
|
Labour cost pro employee |
Value |
35.366 |
33.578 |
33.347 |
32.758 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.