MIRA
INFORM REPORT
|
Report Date : |
10.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CATTA 27 S.R.L. |
|
|
|
|
Registered Office : |
Via Della Solidarieta', 2/1 40056 - Crespellano (BO) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.11.1991 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of machinery for the food, beverage and tobacco industries |
|
|
|
|
No. of Employees : |
from 26 to 35 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 (31.03.2012) |
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
CATTA 27 S.R.L.
Via Della Solidarieta', 2/1
40056 - Crespellano (BO) -IT-
Summary
|
Fiscal Code |
: |
04075850372 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/11/1991 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Manufacture of machinery for the food, beverage and tobacco industries
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 04075850372 |
|
Foreign Trade Reg. no. : BO022450 since 06/02/1992 |
|
Foreign Trade Reg. no. : 22450 of |
|
Foreign Trade Reg. no. : 022450 of since 06/02/1992 |
|
Chamber of Commerce no. : 337657 of since 07/11/1991 |
|
Firms' Register : BO006-57725 of since 19/02/1996 |
|
V.A.T. Code : 00698291200 |
|
Tribunal Co. Register : 57725 of |
|
Foundation date |
: 29/07/1991 |
|
|
Establishment date |
: 29/07/1991 |
|
|
Start of Activities |
: 15/11/1991 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 700.000 |
|
|
Subscribed Capital |
: 700.000 |
|
|
Paid up Capital |
: 700.000 |
|
Members
|
|
Cocchi |
Gino |
|
|
|
Born in Bologna |
(BO) |
on 11/09/1940 |
- Fiscal Code : CCCGNI40P11A944P |
|
|
|
Residence: |
|
Della Zecca |
, 1 |
- 40121 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
09/05/2012 |
|
|
|
Board Chairman |
09/05/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Cocchi |
Giuliano |
|
|
|
Born in Bologna |
(BO) |
on 09/08/1944 |
- Fiscal Code : CCCGLN44M09A944R |
|
|
|
Residence: |
|
Campomaggiore |
, 6 |
- 40050 |
Monteveglio |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
|
|
|
|
General Director |
|
|
|
|
Director |
09/05/2012 |
|
|
|
Managing Director |
09/05/2012 |
|
|
|
|
Cocchi |
Giuliano |
|
|
|
Born in Bologna |
(BO) |
on 09/08/1944 |
- Fiscal Code : CCCGLN44M09A944R |
|
|
|
Residence: |
|
Campomaggiore |
, 6 |
- 40050 |
Monteveglio |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
|
|
|
|
General Director |
|
|
|
|
Director |
09/05/2012 |
|
|
|
Managing Director |
09/05/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Zaniboni |
Gianni |
|
|
|
Born in Castel San Pietro Terme |
(BO) |
on 29/11/1948 |
- Fiscal Code : ZNBGNN48S29C265X |
|
|
|
Residence: |
|
Moglio |
, 13/4 |
- 40037 |
Sasso Marconi |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
09/05/2012 |
|
|
|
|
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 |
|
Cocchi Gino |
Bologna - IT - |
CCCGNI40P11A944P |
10.500 .Eur |
1,50 |
|
Cocchi Technology S.p.a. |
Crespellano - IT - |
01513741205 |
686.000 .Eur |
98,00 |
|
Cocchi Giuliano |
Monteveglio - IT - |
CCCGLN44M09A944R |
3.500 .Eur |
0,50 |
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 |
|
|
|
|
|
|
|
Della Solidarieta' |
, 2/1 |
- 40056 |
- Crespellano |
(BO) |
- IT - |
|
|
|
|
TELEX |
: 511426 |
|
|
|
|
PHONE |
: 0516221511 |
|
|
|
|
PHONE |
: 0516721511 |
|
|
|
|
FAX |
: 845799 |
|
|
|
|
FAX |
: 051960520 |
|
|
|
|
Employees |
: 28 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of 2.000 |
Eur |
|
Stocks for a value of 810.000 |
Eur |
|
Work in progress for a value of 420.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own vehicles and third parties ones
The company 's mainly customers are companies.
|
|
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
|
- joint-ventures with foreign companies |
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- direct orders from foreign companies |
Company uses to accept the following term of sales: 30-60-90 days.
Main sales modalities: issue cheques and bank transfers.
Purchase terms: 60-90-120 days.
Subject company generally settles its engagements by issueing of
cheques and cash orders.
Export is mainly towards:
|
- Cyprus |
|
- France |
|
- Italy |
|
- Ireland |
Historical Information and/or
Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Cocchi |
Gino |
|
|
|
Born in BOLOGNA |
(BO) |
on 11/09/1940 |
|
|
|
Residence: |
|
P. MOLINELLI |
, 39 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
COCCHI |
GINO |
|
|
|
Born in BOLOGNA |
(BO) |
on 11/09/1940 |
|
|
|
Residence: |
|
P. MOLINELLI |
, 39 |
- 40137 |
BOLOGNA |
(BO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
CERNOIA |
MARGHERITA |
|
|
|
Born in BOLOGNA |
(BO) |
on 17/09/1967 |
- Fiscal Code : CRNMGH67P57A944B |
|
|
|
Residence: |
|
AEROPORTI |
, 87 |
- 36030 |
Caldogno |
(VI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
COCCHI |
GINO |
|
|
|
Born in BOLOGNA |
(BO) |
on 11/09/1940 |
|
|
|
Residence: |
|
MOLINELLI |
, 39 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
|
Ariatti |
Paolo |
|
|
|
Born in Bologna |
(BO) |
on 06/09/1962 |
- Fiscal Code : RTTPLA62P06A944Z |
|
|
|
Residence: |
|
Calderini |
, 5 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Salmon Cinotti |
Lorenzo |
|
|
|
Born in PESARO |
(PS) |
on 31/12/1953 |
- Fiscal Code : SLMLNZ53T31G479R |
|
|
|
Residence: |
|
Aldrovandi |
, 8 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
MEZZETTI |
MASSIMO |
|
|
|
Born in BOLOGNA |
(BO) |
on 09/07/1958 |
- Fiscal Code : MZZMSM58L09A944A |
|
|
|
Residence: |
- 40069 |
Zola Predosa |
(BO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Di Giorgi |
Nino Giorgio |
|
|
|
Born in Ravenna |
(RA) |
on 21/04/1941 |
- Fiscal Code : DGRNGR41D21H199S |
|
|
|
Residence: |
|
S. Mamolo |
, 99/2 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Guccerelli |
Gabriele |
|
|
|
Born in Ravenna |
(RA) |
on 02/10/1946 |
- Fiscal Code : GCCGRL46R02H199I |
|
|
|
Residence: |
|
Molinelli |
, 39 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Chairman |
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 1991
The eonomic-financial analysis is based on the latest 3 b/s.
In the economic management , good and bad results followed on by turns. with a profit (r.o.e. 0,52%) in the last financial year The turnover is growing in the last financial year (+8,42%).
The operating result in 2011 was positive (3,45%) and reflects the field's average.
The amount of the operating result is equal to Eur. 232.293 with an increase of more then 100% if the compared to the previous financial year.
The G.O.M. amounted to Eur. 381.010 showing an upward trend if compared to 2010.
The analysis shows a fair financial position as the indebtedness volume is acceptable (2,97) yet on the increase as against the previous accounting period.
The management generated equity capital for an amount of Eur. 1.501.161 on the same levels as the year before.
Total indebtedness totalled Eur. 4.558.811, showing a stable trend as opposed to 2010 (Eur. 4.152.483).
The recourse to financial credit is within the limits; on the other hand the recourse to suppliers' credit is rated as fairly high and higher than sector's average.
Liquidity is however good.
Trade credits average terms are slow, on average 231,72 days. besides being higher than the sector's average.
Eur. 156.469 is the value of cash flow during the year 2011
Subordinate employment cost is of Eur. 1.894.752, i.e. 25,93% on total production costs. , whereas 23,34% is the incidence on sales revenues.
Limited financial charges in relation to sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.119.206 |
|
Profit (Loss) for the period |
7.752 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.488.278 |
|
Profit (Loss) for the period |
-88.045 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.623.977 |
|
Profit (Loss) for the period |
5.223 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.399.638 |
|
Profit (Loss) for the period |
-351.370 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.436.408 |
|
Profit (Loss) for the period |
31.427 |
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 |
0,05 |
0,08 |
0,06 |
0,18 |
|
Elasticity Ratio |
Units |
0,94 |
0,92 |
0,94 |
0,80 |
|
Availability of stock |
Units |
0,12 |
0,23 |
0,12 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,82 |
0,68 |
0,81 |
0,48 |
|
Quick Ratio |
Units |
0,01 |
0,03 |
0,03 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,97 |
2,65 |
2,26 |
3,25 |
|
Self Financing Ratio |
Units |
0,22 |
0,24 |
0,27 |
0,19 |
|
Capital protection Ratio |
Units |
0,53 |
0,59 |
0,55 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,14 |
0,14 |
0,13 |
0,19 |
|
Financing |
Units |
3,04 |
2,78 |
2,38 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,32 |
0,33 |
0,35 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,09 |
0,09 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,92 |
0,14 |
1,05 |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
6,12 |
4,18 |
5,63 |
1,75 |
|
Current ratio |
Units |
1,39 |
1,38 |
1,46 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,21 |
1,03 |
1,27 |
0,81 |
|
Structure's primary quotient |
Units |
4,31 |
3,04 |
4,27 |
1,03 |
|
Treasury's primary quotient |
Units |
0,02 |
0,05 |
0,05 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
448,23 |
418,25 |
372,74 |
516,42 |
|
Current Capital ( net ) |
Value |
1.775.980 |
1.589.839 |
1.746.118 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,93 |
1,83 |
3,31 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,52 |
-5,90 |
0,33 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
8,62 |
-1,84 |
6,92 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
3,45 |
0,37 |
3,08 |
4,16 |
|
Return/ Sales |
% |
2,86 |
0,31 |
2,74 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
3,34 |
-378,12 |
2,87 |
28,57 |
|
Cash Flow |
Value |
156.469 |
136.785 |
219.029 |
122.482 |
|
Operating Profit |
Value |
232.293 |
23.285 |
181.707 |
144.752 |
|
Gross Operating Margin |
Value |
381.010 |
248.115 |
395.513 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
231,72 |
179,28 |
237,91 |
111,85 |
|
Debts to suppliers average term |
Days |
176,97 |
164,17 |
119,51 |
128,30 |
|
Average stock waiting period |
Days |
35,84 |
70,45 |
39,83 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,21 |
1,20 |
1,12 |
1,08 |
|
Rate of stock return |
Units |
10,04 |
5,11 |
9,04 |
4,45 |
|
Labour cost incidence |
% |
23,34 |
24,82 |
26,60 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-1,03 |
-0,74 |
-1,20 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
25,93 |
21,76 |
27,23 |
19,02 |
|
Short-term financing charges |
% |
1,83 |
1,34 |
2,11 |
2,68 |
|
Capital on hand |
% |
82,87 |
83,41 |
88,99 |
91,91 |
|
Sales pro employee |
Value |
137.614 |
129.108 |
120.436 |
198.432 |
|
Labour cost pro employee |
Value |
32.114 |
32.043 |
32.035 |
35.779 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
UK Pound |
1 |
Rs.88.23 |
|
Euro |
1 |
Rs.71.92 |
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.