|
Report Date : |
16.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SALDARINI 1882
S.R.L. |
|
|
|
|
Registered Office : |
Via Cardina, 61 22100 – Como (CO)
|
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.01.2011 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of
clothing and accessories |
|
|
|
|
No. of Employees : |
From 36 to 50 |
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 : |
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 – 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
Saldarini 1882 s.r.l.
Via Cardina, 61
22100 – Como (CO) -IT-
|
Fiscal Code |
: |
03297470134 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
01/01/2011 |
|
Equity |
: |
15.000 |
|
Turnover Range |
: |
3.000.000/3.750.000 |
|
Number of Employees |
: |
from 36 to 50 |
Wholesale of clothing and accessories
Retail sale of clothing in specialised stores
Legal Form : Sole-Member Limited Liability
Company
|
Fiscal Code : 03297470134 |
|
Chamber of Commerce no. : 245407 of |
|
Chamber of Commerce no. : 403290 of |
|
Chamber of Commerce no. : 491913 of |
|
Chamber of Commerce no. : 522400 of |
|
Chamber of Commerce no. : 306953 of since
10/12/2010 |
|
Chamber of Commerce no. : 243549 of |
|
Chamber of Commerce no. : 252912 of |
|
Chamber of Commerce no. : 1292896 of |
|
Chamber of Commerce no. : 359390 of |
|
V.A.T. Code : 03297470134 |
|
Establishment date |
: 02/12/2010 |
|
|
Start of Activities |
: 01/01/2011 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
|
|
|
Vanderhaegen |
Laurence |
|
|
|
Born in Anderlecht |
( ) |
on 13/04/1972 |
- Fiscal Code : VNDLNC72D53Z103D |
|
|
|
Residence: |
|
V Giornate N. 20 |
, 20 |
- 22012 |
Cernobbio |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
02/12/2010 |
|
|
|
|
Prejudicial Events found with
cancellations* |
|
|
No Protests registered |
|
|
Franceschetti |
Antonio |
|
|
|
Born in Milano |
(MI) |
on 10/04/1969 |
- Fiscal Code : FRNNTN69D10F205Q |
|
|
|
Residence: |
|
Molino |
, 20 |
- 22030 |
Montorfano |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*Concerns also partially erased events.
*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 |
|
Franceschetti Antonio |
Montorfano - IT - |
FRNNTN69D10F205Q |
|
100,00 |
The Company under review has no participations
in other Companies.
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Cardina |
, 61 |
- 22100 |
- Como |
(CO) |
- IT - |
|
|
|
|
Total Surface: 73 Sq.mt. |
|
|
|
|
PHONE |
: 031579311 |
|
- |
Branch |
(Administrative office) |
since 01/01/2011 |
|
|
|
|
|
|
Borgovico |
, 225 |
- 22100 |
- Como |
(CO) |
- IT - |
|
- |
Branch |
(Shop) |
since 21/01/2011 |
|
|
|
|
|
|
Della Moda |
, 1 |
- 15069 |
- Serravalle Scrivia |
(AL) |
- IT - |
|
|
|
|
Total Surface: 73 Sq.mt. |
|
- |
Branch |
(Shop) |
since 20/01/2011 |
|
|
|
|
|
|
Aereoporto |
, 13 |
- 24050 |
- Orio Al Serio |
(BG) |
- IT - |
|
|
|
|
Total Surface: 40 Sq.mt. |
|
- |
Branch |
(Shop) |
since 22/01/2011 |
|
|
|
|
|
|
Del Commercio |
, 4R/Q |
- 40023 |
- Castel Guelfo di Bologna |
(BO) |
- IT - |
|
|
|
|
Total Surface: 141 Sq.mt. |
|
- |
Branch |
(Shop) |
since 19/01/2011 |
|
|
|
|
|
|
Foppa |
, 48 |
- 25050 |
- Rodengo-Saiano |
(BS) |
- IT - |
|
|
|
|
Total Surface: 107 Sq.mt. |
|
- |
Branch |
(Shop) |
since 17/01/2011 |
|
|
|
|
|
|
Marco Biagi |
, s.n. |
- 46031 |
- Bagnolo San Vito |
(MN) |
- IT - |
|
|
|
|
Total Surface: 101 Sq.mt. |
|
- |
Branch |
(Shop) |
since 21/01/2011 |
|
|
|
|
|
|
Marco Polo |
, 1/49 |
- 30020 |
- Noventa di Piave |
(VE) |
- IT - |
|
|
|
|
Total Surface: 58 Sq.mt. |
|
- |
Branch |
(Shop) |
since 26/04/2011 |
|
|
|
|
|
|
San Michele Campagnia |
, s.n. |
- 43036 |
- Fidenza |
(PR) |
- IT - |
|
|
|
|
Total Surface: 79 Sq.mt. |
|
- |
Branch |
(Shop) |
since 14/01/2011 |
|
|
|
|
|
|
Della Pace Loc. Pascolaro |
, s.n. |
- 00038 |
- Valmontone |
(RM) |
- IT - |
|
|
|
|
Total Surface: 158 Sq.mt. |
|
|
|
|
Employees |
: 43 |
|
Stocks for a value of 890.000 |
Eur |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The subj. took over by rent the activities
of |
|
|
|
Castel Guelfo Ii S.r.l. |
|
|
|
|
Magenta |
, 85 |
, 20123 |
, Milano |
(MI) |
- IT - |
|
|
|
Fiscal Code: 04490200963 |
|
|
|
Date |
: |
20/12/2010 |
|
|
The subj. took over by rent the activities
of |
|
|
|
Fashion District Mantova S.r.l. |
|
|
|
|
Aldo Moro |
, 5 |
, 25124 |
, Brescia |
(BS) |
- IT - |
|
|
|
Fiscal Code: 03684090966 |
|
|
|
Date |
: |
31/12/2010 |
|
|
The subj. took over by rent the activities
of |
|
|
|
Fashion District Roma S.r.l. |
|
|
|
|
Aldo Moro |
, 5 |
, 25124 |
, Brescia |
(BS) |
- IT - |
|
|
|
Fiscal Code: 03684070968 |
|
|
|
Date |
: |
31/12/2010 |
|
|
The firm took over the activity of |
|
|
|
Timeo S.r.l. In Liquidazione |
|
|
|
|
Alberto Da Giussano |
, 23 |
, 20145 |
, Milano |
(MI) |
- IT - |
|
|
|
Fiscal Code: 03622870966 |
|
|
|
Date |
: |
03/03/2011 |
|
|
The subj. took over by rent the activities
of |
|
|
|
Bmg Noventa S.r.l. |
|
|
|
|
Del Ponte Di Piscina Cupa |
, 64 |
, 00128 |
, Roma |
(RM) |
- IT - |
|
|
|
Fiscal Code: 04159220260 |
|
|
|
Date |
: |
14/04/2011 |
|
|
The subj. took over by rent the activities
of |
|
|
|
Serravalle Outlet Mall S.r.l. |
|
|
|
|
Agnello |
, 8 |
, 20121 |
, Milano |
(MI) |
- IT - |
|
|
|
Fiscal Code: 03765590967 |
|
|
|
Date |
: |
18/07/2011 |
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.
The company has been active for some years.
The analysis is based on the b/s relating to
year 2011.
A positive economic result was achieved with
a r.o.e. 23,13%.
The operating result was positive (4,74%).
and in line with the sector's average.
It's equal to Eur. 72.952 the amount of the
operating result coming from the financial management.
Positive gross operating margin for a value
of Eur. 95.643.
Financial condition is not balanced as own
capitals do not cover debts, indebtedness level is in fact high (105,36)
Subject's equity capital amounted to Eur.
13.011.
Moderate recourse to bank credit while the
exposure towards suppliers is rather high however still within the sector's
average.
Liquidity is not completely adequate.
As to due from customers, the average terms
are 16,95 days. , that compared to the sector's average is shorter.
Cash flow was equal to Eur. 25.700
Labour cost amounts to Eur. 1.037.946, with a
29,48% incidence on production costs. , whereas the incidence on sales revenues
is of 29,26%.
No incidence of financial charges as lower
than the incomes.
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.546.769 |
|
Profit (Loss) for the period |
3.009 |
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 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|
|
|
|
Rigidity Ratio |
Units |
0,26 |
0,09 |
|
Elasticity Ratio |
Units |
0,71 |
0,89 |
|
Availability of stock |
Units |
0,58 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,13 |
0,54 |
|
Quick Ratio |
Units |
0,02 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
Net Short-term indebtedness |
Units |
105,36 |
3,95 |
|
Self Financing Ratio |
Units |
0,01 |
0,17 |
|
Capital protection Ratio |
Units |
0,00 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,04 |
0,10 |
|
Financing |
Units |
109,37 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,05 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
1,04 |
|
CORRELATION |
|
|
|
|
Fixed assets ratio |
Units |
0,18 |
2,37 |
|
Current ratio |
Units |
0,78 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,15 |
0,80 |
|
Structure's primary quotient |
Units |
0,03 |
1,48 |
|
Treasury's primary quotient |
Units |
0,03 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
11827,66 |
602,26 |
|
Current Capital ( net ) |
Value |
-313.852 |
191.984 |
|
RETURN |
|
|
|
|
Return on Sales (R.O.S.) |
% |
0,72 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
23,13 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
569,86 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
4,74 |
4,18 |
|
Return/ Sales |
% |
2,06 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
4,12 |
27,96 |
|
Cash Flow |
Value |
25.700 |
44.823 |
|
Operating Profit |
Value |
72.952 |
74.603 |
|
Gross Operating Margin |
Value |
95.643 |
111.383 |
|
MANAGEMENT |
|
|
|
|
Credits to clients average term |
Days |
16,95 |
113,70 |
|
Debts to suppliers average term |
Days |
128,58 |
118,14 |
|
Average stock waiting period |
Days |
89,86 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,30 |
1,25 |
|
Rate of stock return |
Units |
4,01 |
4,88 |
|
Labour cost incidence |
% |
29,26 |
8,14 |
|
Net financial revenues/charges incidence |
% |
0,03 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
29,48 |
8,25 |
|
Short-term financing charges |
% |
n.c. |
2,76 |
|
Capital on hand |
% |
43,39 |
79,85 |
|
Sales pro employee |
Value |
110.836 |
397.742 |
|
Labour cost pro employee |
Value |
32.435 |
33.267 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.