|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONTI COMPLETT S.P.A. IN LIQUIDAZIONE |
|
|
|
|
Registered Office : |
Via Caravaggio, 2/B 20033 – Desio (MB) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
24.07.1963 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of textile machinery, machinery and systems
for auxiliary treatment of textiles, sewing and weaving machines (including
spare parts and accessories) |
|
|
|
|
No. of Employees : |
from 51 to 70 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
In Liquidation |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
Conti Complett S.p.A. In Liquidazione
Via Caravaggio, 2/B
20033 – Desio (MB) -IT-
|
Fiscal Code |
: |
00831890157 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
24/07/1963 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
|
Firm's Status |
: |
In liquidation |
|
On 10.9.2012 the subject was voluntary wound up. On 11.10.2012 it
leased |
|
its operative business to COMPLETT S.R.L. (fiscal code : 07951320964).
|
Manufacture of textile machinery, machinery and systems for auxiliary
treatment of textiles, sewing and weaving machines (including spare parts and
accessories)
Legal Form : Joint stock company
|
Fiscal Code : 00831890157 |
|
Foreign Trade Reg. no. : MB004179 since 12/05/1994 |
|
Chamber of Commerce no. : 104905 of Bergamo |
|
Chamber of Commerce no. : 640471 of Monza e Brianza since 20/07/2007 |
|
V.A.T. Code : 00831890157 |
|
Tribunal Co. Register : 121089 of |
|
Foundation date |
: 24/07/1963 |
|
|
Establishment date |
: 12/07/1963 |
|
|
Start of Activities |
: 24/07/1963 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.580.000 |
|
|
Subscribed Capital |
: 2.580.000 |
|
|
Paid up Capital |
: 2.580.000 |
|
|
|
Conti |
Stefano |
|
|
|
Born in Milano |
(MI) |
on 07/04/1962 |
- Fiscal Code : CNTSFN62D07F205K |
|
|
|
Residence: |
|
Giuseppe Garibaldi |
, 33 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Liquidator |
05/09/2012 |
|
|
|
|
Conti |
Stefano Andrea |
|
|
|
Born in Milano |
(MI) |
on 07/04/1962 |
- Fiscal Code : CNTSFN62D07F205K |
|
|
|
Residence: |
|
Garibaldi Giuseppe |
, 33 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Liquidator |
05/09/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pandolfi |
Renato |
|
|
|
Born in Seriate |
(BG) |
on 22/06/1944 |
- Fiscal Code : PNDRNT44H22I628E |
|
|
|
Residence: |
|
Liberta' |
, 4 |
- 24020 |
Gorle |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Technical Manager |
|
|
|
|
Procurator |
05/09/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Lambrugo |
Angelo |
|
|
|
Born in Giussano |
(MB) |
on 15/03/1960 |
- Fiscal Code : LMBNGL60C15E063D |
|
|
|
Residence: |
|
Btg.morbegno |
, 18 |
- 20833 |
Giussano |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
22/10/1996 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Fumagalli |
Giuseppe |
|
|
|
Born in Milano |
(MI) |
on 17/03/1953 |
- Fiscal Code : FMGGPP53C17F205W |
|
|
|
Residence: |
|
Neruda |
, 6 |
- 20090 |
Trezzano sul Naviglio |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
23/02/2001 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Poggi |
Stefano |
|
|
|
Born in Vigevano |
(PV) |
on 06/10/1943 |
- Fiscal Code : PGGSFN43R06L872P |
|
|
|
Residence: |
|
Monza |
, 355 |
- 20126 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/09/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Conti |
Stefano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Dyaguar S.p.a. |
Milano (MI) - IT - |
09641140158 |
Sole Director |
Withdrawn |
Registered |
|
Artena Spa |
Desio (MB) - IT - |
06848130156 |
Director |
Active |
Registered |
|
Artena Spa |
Desio (MB) - IT - |
06848130156 |
Managing
Director |
Active |
Registered |
|
Complett S.r.l. |
Desio (MB) - IT - |
07951320964 |
Procurator |
Active |
Registered |
|
Artena Energy S.r.l. |
Desio (MB) - IT - |
08206810965 |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Conti Stefano Andrea |
Milano - IT - |
CNTSFN62D07F205K |
25.800 .Eur |
1,00 |
|
Artena Spa |
Desio - IT - |
06848130156 |
2.554.200 .Eur |
99,00 |
The Company under review has no participations in other Companies.
|
- |
Legal and operative seat |
|
since 24/07/1963 |
|
|
|
|
|
|
Caravaggio |
, 2/B |
- 20033 |
- Desio |
(MB) |
- IT - |
|
|
|
|
Legal mail |
: CONTICOMPLETT@LEGALMAIL.IT |
|
- |
Branch |
(Factory) |
|
|
|
|
|
|
Treviglio |
, 15 |
- 24053 |
- Brignano Gera d'Adda |
(BG) |
- IT - |
|
|
|
|
Employees |
: 52 |
|
Fittings and Equipment for a value of 350.000 |
Eur |
|
Stocks for a value of 3.230.000 |
Eur |
|
Furniture and fittings for a value of 180.000 |
Eur |
|
Vehicles for a value of 250.000 |
Eur |
|
|
EX-MEMBERS / EX-POSITIONS:
|
|
Buaron Daniel |
|
|
|
|
Born in Tripoli (Libia) |
( ) |
on 28/01/1950 |
|
Ex-Postions |
|
Chairman |
|
|
Conti |
Roberto |
|
|
|
Born in Milano |
(MI) |
on 28/03/1935 |
- Fiscal Code : CNTRRT35C28F205H |
|
|
|
Fiscal residence: |
|
Varese |
, 18 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman and Managing Director |
|
|
Cattaneo Giancarlo |
|
|
|
|
Born in Albino |
(BG) |
on 28/09/1943 |
- Fiscal Code : CTTGCR43P28A163L |
|
Ex-Postions |
|
Managing Director |
|
|
Conti |
Stefano Andrea |
|
|
|
Born in Milano |
(MI) |
on 07/04/1962 |
- Fiscal Code : CNTSFN62D07F205K |
|
|
|
Residence: |
|
Garibaldi Giuseppe |
, 33 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
The company is in voluntary winding-up |
|
|
|
Date |
: 10/09/2012 |
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.
Subject is active since 1963
Balance sheets for the years 2009, 2010 and 2011 were analyzed.
Last two financial years were marked by losses; in 2011 r.o.e. is
-16,03%.
The return on investment in the last financial year was negative
(-10,76%).
The amount of the operating loss for 2011 is equal to Eur. -773.307.
The gross operating margin for the fiscal year 2011 is negative, for an
amount of Eur. -268.011.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,32 increasing compared to last year
(0,09)
It's shareholders funds amount to Eur. 3.989.002 , unchanged if compared
to 2010.
Eur. 2.155.956 is the amount of total debts, both commercial and of
different nature, with a growth equal to 20,02%.
Bank and suppliers credit recourse is limited, 86,29 gg. is payment
average period below field's average.
The management determines a good range of liquidity.
Credits are collected in 68,68 days on the average. , lower than the
sector's average.
Cash flow is negative at the end of financial year 2011.
Labour cost expenses amount to Eur. 3.013.311 , representing 33,97% on
the total of production costs. , with a 38,69% incidence on turnover.
The financial charges are lower than the financial incomes.
The presence of detrimental items, apart from the financial-economic
analysis, makes the company not suitable for business transactions on credit
basis.
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.787.794 |
|
Profit (Loss) for the period |
-639.563 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.058.207 |
|
Profit (Loss) for the period |
-442.531 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.954.600 |
|
Profit (Loss) for the period |
-923.420 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,12 |
0,16 |
0,17 |
0,18 |
|
Elasticity Ratio |
Units |
0,87 |
0,84 |
0,83 |
0,80 |
|
Availability of stock |
Units |
0,45 |
0,33 |
0,41 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,42 |
0,51 |
0,41 |
0,48 |
|
Quick Ratio |
Units |
0,12 |
0,19 |
0,12 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,32 |
0,09 |
n.c. |
3,25 |
|
Self Financing Ratio |
Units |
0,55 |
0,62 |
0,74 |
0,19 |
|
Capital protection Ratio |
Units |
0,51 |
0,54 |
0,67 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,48 |
0,57 |
1,12 |
0,19 |
|
Financing |
Units |
0,54 |
0,39 |
0,17 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,70 |
0,76 |
0,87 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,14 |
0,14 |
0,14 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
5,62 |
4,89 |
5,15 |
1,75 |
|
Current ratio |
Units |
2,91 |
3,51 |
6,72 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,42 |
2,14 |
3,36 |
0,81 |
|
Structure's primary quotient |
Units |
4,45 |
4,00 |
4,34 |
1,03 |
|
Treasury's primary quotient |
Units |
0,41 |
0,78 |
1,00 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
180,20 |
161,31 |
135,98 |
516,42 |
|
Current Capital ( net ) |
Value |
4.127.485 |
4.502.808 |
4.861.983 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
-1,72 |
-0,67 |
-18,67 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-16,03 |
-9,56 |
-18,21 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-18,97 |
-11,09 |
-23,77 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
-10,76 |
-6,90 |
-19,25 |
4,16 |
|
Return/ Sales |
% |
-9,93 |
-8,51 |
-33,57 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
28,57 |
|
Cash Flow |
Value |
-134.267 |
-40.421 |
-738.463 |
122.482 |
|
Operating Profit |
Value |
-773.307 |
-515.443 |
-1.327.491 |
144.752 |
|
Gross Operating Margin |
Value |
-268.011 |
-113.333 |
-1.142.534 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
68,68 |
90,21 |
87,11 |
111,85 |
|
Debts to suppliers average term |
Days |
86,29 |
120,79 |
62,32 |
128,30 |
|
Average stock waiting period |
Days |
149,38 |
146,00 |
259,64 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,08 |
0,81 |
0,57 |
1,08 |
|
Rate of stock return |
Units |
2,41 |
2,47 |
1,39 |
4,45 |
|
Labour cost incidence |
% |
38,69 |
36,85 |
52,72 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
0,19 |
-0,15 |
0,39 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
33,97 |
33,81 |
37,14 |
19,02 |
|
Short-term financing charges |
% |
0,06 |
0,56 |
0,64 |
2,68 |
|
Capital on hand |
% |
92,30 |
123,23 |
174,35 |
91,91 |
|
Sales pro employee |
Value |
139.067 |
106.284 |
68.477 |
198.432 |
|
Labour cost pro employee |
Value |
53.809 |
39.161 |
36.101 |
35.779 |
|
Population living in the province |
: |
9.393.092 |
|
Population living in the region |
: |
0 |
|
Number of families in the region |
: |
0 |
Monthly family expences average in the region (in .) :
|
- per food products |
: |
0 |
|
- per non food products |
: |
0 |
|
- per energy consume |
: |
0 |
The values are calculated on a base of 1.206 significant companies.
The companies cash their credits on an average of 112 dd.
The average duration of suppliers debts is about 128 dd.
The sector's profitability is on an average of 3,35%.
The labour cost affects the turnover in the measure of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and the resources used to
realize it is about 1,08.
The employees costs represent the 19,02% of the production costs.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
|
1 |
Rs.89.89 |
|
Euro |
1 |
Rs.77.72 |
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.