MIRA INFORM REPORT

 

 

Report Date :

18.01.2014

 

 

 

 

Tel. No.:

+39 0444 366000

Fax No.:

+39 0444 592469

 

 

IDENTIFICATION DETAILS

 

Name :

COLOR SERVICE S.R.L.

 

 

Registered Office :

Via Divisione Julia, 15,

36031 – Dueville (VI)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

30.03.1984

 

 

Legal Form :

Limited liability company

 

 

Line of Business :

Manufacture of apparatus and machinery for laundries and ironing establishments (including spare parts and accessories)

 

 

No. of Employees :

43

 

 

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 – September 30, 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

 

COLOR SERVICE S.R.L.

 

Via Divisione Julia, 15

 

36031 – Dueville (VI) -IT-

 

 

Summary

 

Fiscal Code

:

01660830249

Legal Form

:

Limited liability company

start of Activities

:

14/04/1987

Equity

:

2.500.000

Turnover Range

:

10.000.000/12.750.000

Number of Employees

:

from 36 to 50

 

 

Activity

 

Manufacture of apparatus and machinery for laundries and ironing establishments (including spare parts and accessories)

 

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 01660830249

 

Foreign Trade Reg. no. : VI029657 since 24/03/1992

 

Foreign Trade Reg. no. : 29657 of Vicenza since 24/03/1992

 

Foreign Trade Reg. no. : 029657 of Vicenza since 24/03/1992

 

Chamber of Commerce no. : 390282 of Modena

 

Chamber of Commerce no. : 175837 of Vicenza since 23/05/1984

 

Firms' Register : VI116-15828 of Vicenza since 19/02/1996

 

V.A.T. Code : 01660830249

 

Tribunal Co. Register : 15828 of

 

Foundation date

: 30/03/1984

Establishment date

: 30/03/1984

Start of Activities

: 14/04/1987

Legal duration

: 31/12/2050

Nominal Capital

: 207.000

 

Subscribed Capital

: 207.000

 

Paid up Capital

: 207.000

 

Members

 

Toschi

Stefania

 

 

Born in Carpi

(MO)

on 04/03/1966

- Fiscal Code : TSCSFN66C44B819G

 

 

Residence:

 

Castelletto

, 115

- 36042

Breganze

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/06/2011

 

 

Managing Director

29/06/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Toschi

Fabrizio

 

 

Born in Carpi

(MO)

on 08/05/1945

- Fiscal Code : TSCFRZ45E08B819D

 

 

Residence:

 

G. La Pira

, 33

- 36042

Breganze

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/06/2011

 

 

Board Chairman

29/06/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Fona

Guido

 

 

Born in Breganze

(VI)

on 31/05/1949

- Fiscal Code : FNOGDU49E31B132F

 

 

Residence:

 

Verdi

, 12

- 36030

Fara Vicentino

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/06/2011

 

 

 

Turle

Antonello

 

 

Born in Breganze

(VI)

on 20/03/1966

- Fiscal Code : TRLNNL66C20L157L

 

 

Residence:

 

Castelletto

, 115

- 36042

Breganze

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/06/2011

 

 



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.

 

Toschi

Stefania

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Stan S.r.l. - In Liquidazione

Breganze (VI) - IT -

02609290248

Director

Withdrawn

Registered

 

Toschi

Fabrizio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Color Tech S.r.l. - Unipersonale

Breganze (VI) - IT -

03264710264

Sole Director

Active

Registered

Tintoria Astico S.r.l.

Fara Vicentino (VI) - IT -

02627130244

Board Chairman

Withdrawn

Registered

Stan S.r.l. - In Liquidazione

Breganze (VI) - IT -

02609290248

Director

Withdrawn

Registered

T.m.t. Costruzioni Meccaniche S.r.l.

Thiene (VI) - IT -

00835160243

Chairman

Withdrawn

Ceased

B.t.e. Building Technology Engineering S.r.l.

Vicenza (VI) - IT -

03216440242

Managing Director

Withdrawn

Registered

B.t.e. Building Technology Engineering S.r.l.

Vicenza (VI) - IT -

03216440242

Director

Withdrawn

Registered

B.t.e. Building Technology Engineering S.r.l.

Vicenza (VI) - IT -

03216440242

Board Chairman

Withdrawn

Registered

Timis Srl

Thiene (VI) - IT -

03396100244

Sole Director

Active

Registered

Gelbar Srl

Vicenza (VI) - IT -

03465920241

Managing Director

Active

Registered

Gelbar Srl

Vicenza (VI) - IT -

03465920241

Director

Active

Registered

Co.ris.ma - Consorzio Di Smaltimento Rifiuti Speciali Del Medio Astico

Vicenza (VI) - IT -

02167260245

Chairman

Withdrawn

Ceased

 

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

Toschi Stefania

Breganze - IT -

TSCSFN66C44B819G

84.870 .Eur

41,00

Toschi Fabrizio

Breganze - IT -

TSCFRZ45E08B819D

31.050 .Eur

15,00

Turle Antonello

Breganze - IT -

TRLNNL66C20L157L

49.680 .Eur

24,00

Color Tech S.r.l. - Unipersonale

 

03264710264

41.400 .Eur

20,00

 

 

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

Nuova M.t. S.r.l. " In Liquidazione"

Campogalliano - IT -

00914300363

9.984 .Eur

32,00

 

 

Active

Timis Srl

Thiene - IT -

03396100244

45.000 .Eur

50,00

 

 

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

 

Divisione Julia

, 15

- 36031

- Dueville

(VI)

- IT -

 

 

 

 

PHONE

: 0444592366

 

 

 

 

PHONE

: 0444366000

 

 

 

 

FAX

: 0444592469

 

-

Branch

(Factory)

since 01/12/2009

 

 

 

 

 

 

Artigianato

, 24

- 36064

- Mason Vicentino

(VI)

- IT -

 

 

 

 

PHONE

: 04445860576

 

-

Branch

(Factory)

since 27/05/1993

 

 

 

 

 

 

Iv Novembre

, 19

- 36030

- Zugliano

(VI)

- IT -

 

-

Branch

(Factory)

since 15/06/2012

 

 

 

 

 

 

Zamboni

, 6

- 41011

- Campogalliano

(MO)

- IT -

 

-

Branch

(Factory)

since 09/01/2013

 

 

 

 

 

 

Canale Carpi

, 10/B

- 41011

- Campogalliano

(MO)

- IT -

 

 

 

 

Employees

: 43

 

Fittings and Equipment for a value of 130.000

Eur

 

Stocks for a value of 1.890.000

Eur

 

 

The firm operates abroad as exporter..

Export represents from 20% to 50% of the global turnover.

Products abroad are placed by :

- its own sales net-work

 

- its own agents

 

- direct orders from foreign companies

 

Export is mainly towards:

- Italy

 

- France

 

- Greece

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Toschi

Stefania

 

 

Born in Carpi

(MO)

on 04/03/1966

- Fiscal Code : TSCSFN66C44B819G

 

 

Residence:

 

Castelletto

, 115

- 36042

Breganze

(VI)

- IT -

 

Ex-Postions

Vice-Chairman

Managing Director

Director

Managing Director

 

Toschi

Fabrizio

 

 

Born in Carpi

(MO)

on 08/05/1945

- Fiscal Code : TSCFRZ45E08B819D

 

 

Residence:

 

G. La Pira

, 33

- 36042

Breganze

(VI)

- IT -

 

Ex-Postions

Managing Director

Director

Board Chairman

 

Fona

Guido

 

 

Born in Breganze

(VI)

on 31/05/1949

- Fiscal Code : FNOGDU49E31B132F

 

 

Residence:

 

Verdi

, 12

- 36030

Fara Vicentino

(VI)

- IT -

 

Ex-Postions

Director

 

Farina

Roberto

 

 

Born in Breganze

(VI)

on 28/09/1946

- Fiscal Code : FRNRRT46P28B132M

 

 

Residence:

 

G. La Pira

, 21

- 36042

Breganze

(VI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

Chairman of the Board of Aud.

 

Maglio

Antonio

 

 

Born in Salerno

(SA)

on 11/05/1945

- Fiscal Code : MGLNTN45E11I422M

 

 

Residence:

 

Binotto

, 39

- 36016

Thiene

(VI)

- IT -

 

Ex-Postions

Temporary Auditor

Temporary Auditor

 

Farina

Gianbattista

 

 

Born in Dueville

(VI)

on 22/10/1941

- Fiscal Code : FRNGBT41R22D379I

 

 

Residence:

 

Ungaretti

, 16

- 36050

Quinto Vicentino

(VI)

- IT -

 

Ex-Postions

Permanent Auditor

Permanent Auditor

 

Toschi

Giulia

 

 

Born in Padova

(PD)

on 27/09/1988

- Fiscal Code : TSCGLI88P67G224A

 

 

Residence:

 

Giorgio La Pira

, 33

- 36042

Breganze

(VI)

- IT -

 

Ex-Postions

Director

 

Toschi

Laura

 

 

Born in Padova

(PD)

on 27/09/1988

- Fiscal Code : TSCLRA88P67G224B

 

 

Residence:

 

Giorgio La Pira

, 33

- 36042

Breganze

(VI)

- IT -

 

Ex-Postions

Director

 

Turle

Antonello

 

 

Born in Breganze

(VI)

on 20/03/1966

- Fiscal Code : TRLNNL66C20L157L

 

 

Residence:

 

Castelletto

, 115

- 36042

Breganze

(VI)

- IT -

 

Ex-Postions

Director

 

Prandi

Fabio

 

 

Born in Modena

(MO)

on 07/05/1963

- Fiscal Code : PRNFBA63E07F257R

 

 

Residence:

 

Madonna

, 25

- 41011

Campogalliano

(MO)

- IT -

 

Ex-Postions

Director

Director

 

Fabris

Fabio

 

 

Born in Thiene

(VI)

on 17/04/1967

- Fiscal Code : FBRFBA67D17L157D

 

 

Residence:

 

San Vincenzo

, 32

- 36035

Marano Vicentino

(VI)

- IT -

 

Ex-Postions

Permanent Auditor

Permanent Auditor

 

ZANELLA

ALFREDO

 

 

Born in SCHIO

(VI)

on 10/07/1948

- Fiscal Code : ZNLLRD48L10L394R

 

 

Residence:

 

DONIZETTI

, 10

- 36031

Dueville

(VI)

- IT -

 

Ex-Postions

Director

Director

 

Boccaletti

Armando

 

 

Born in Carpi

(MO)

on 18/08/1944

- Fiscal Code : BCCRND44M18B819K

 

 

Residence:

 

Divisione Julia 21

- 36043

Camisano Vicentino

(VI)

- IT -

 

Ex-Postions

Chairman

 

Morelli

Vittorio

 

 

Born in Conegliano

(TV)

on 03/11/1953

- Fiscal Code : MRLVTR53S03L424B

 

 

Residence:

 

Aliprandi

, 60

- 31015

Conegliano

(TV)

- IT -

 

Ex-Postions

Director

 

Manzon

Dino

 

 

Born in TREVISO

(TV)

on 30/05/1946

- Fiscal Code : MNZDNI46E30L407U

 

 

Residence:

 

G. DELEDDA

, 12

- 31038

Paese

(TV)

- IT -

 

Ex-Postions

Director

 

GRESELIN

CRISTINA

 

 

Born in THIENE

(VI)

on 15/10/1965

- Fiscal Code : GRSCST65R55L157A

 

 

Residence:

 

CAPOVILLA

, 74

- 36030

Villaverla

(VI)

- IT -

 

Ex-Postions

Temporary Auditor

Temporary Auditor

 

Piazzo

Alberto

 

 

Born in Thiene

(VI)

on 15/06/1968

- Fiscal Code : PZZLRT68H15L157U

 

 

Residence:

 

Leopardi

, 4

- 36030

San Vito di Leguzzano

(VI)

- IT -

 

Ex-Postions

Permanent Auditor

Temporary Auditor

 

Sartori

Armando

 

 

Born in Schio

(VI)

on 15/05/1941

- Fiscal Code : SRTRND41E15I531K

 

 

Residence:

 

Pietro Maraschin

, 77

- 36015

Schio

(VI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Dall'osto

Stefano

 

 

Born in Thiene

(VI)

on 17/09/1974

- Fiscal Code : DLLSFN74P17L157L

 

Ex-Postions

Temporary Auditor




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

 

Company's starting of activities dates back to 1987.

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

Under the financial profile unstable results are noted. yet with a positive result in the 2012 (r.o.e. 37,82%). Upward trend as to the turnover in the last financial year (+69,31%).

The operating result was positive in the last financial year (11,72%) falling within the field's average.

The amount of the operating result is equal to Eur. 1.351.552 showing an upward trend more then 100% compared to the previous financial year.

The economic management produced a gross operating margin of Eur. 1.802.315 with a more then 100% growth.

The financial status of the company is fairly balanced with an indebtedness level of 2,43 with an improving trend as on the decrease.

The equity capital is equal to Eur. 2.487.585 , increasing by 60,82% if compared to the year before.

During the last financial year total debts volume reached Eur. 7.479.095 (Eur. 1.421.052 were m/l term ones) with no important change.

Financial indebtedness is considered fair whereas the recourse to commercial borrowings is high even if it still falls within the sector's average.

Liquid assets are good.

Trade credits average terms are slow, on average 128,78 days. but on the same levels as the average of the sector.

The financial management generated a cash flow of Eur. 1.266.920.

In the last financial year labour cost was of Eur. 1.823.704, with a 18,64% incidence on total costs of production. and a 16,53% incidence on sales volumes.

The incidence of the financial charges is of -1,45% on the sales amount.

Financial Data

 

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

11.034.711

Profit (Loss) for the period

940.789

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

6.517.166

Profit (Loss) for the period

-1.578.143

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

9.221.824

Profit (Loss) for the period

-418.255

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

5.338.817

Profit (Loss) for the period

-1.551.263

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

11.535.884

Profit (Loss) for the period

92.946



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

3.345

 

 

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

1.169

503

3

. . Concessions,licenses,trademarks,etc.

1.755

2.265

2.841

. . Goodwill

47.065

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

120.034

141.215

150.990

. Total Intangible Fixed Assets

173.368

143.983

153.834

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

2.859.138

2.944.411

3.029.725

. . Plant and machinery

64.655

35.459

23.722

. . Industrial and commercial equipment

64.243

49.958

55.815

. . Other assets

261.455

219.362

263.787

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

3.249.491

3.249.190

3.373.049

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

831.631

841.297

813.711

. . . Equity invest. in subsidiary companies

716.400

716.400

704.360

. . . Equity invest. in associated companies

115.231

124.897

109.351

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

355.938

270.126

297.255

. . . . Within 12 months

355.938

270.126

297.255

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

109.216

132

45.671

. . . . Within 12 months

109.216

132

45.671

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

240.375

265.498

246.999

. . . . Within 12 months

240.375

265.498

246.999

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

6.347

4.496

4.585

. . . . Within 12 months

6.347

4.496

4.585

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

1.187.569

1.111.423

1.110.966

Total fixed assets

4.610.428

4.504.596

4.637.849

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

1.444.266

1.355.636

944.012

. . Work in progress and semimanufactured

448.017

479.063

362.352

. . Work in progress on order

 

 

 

. . Finished goods

 

 

 

. . Advance payments

 

 

 

. Total Inventories

1.892.283

1.834.699

1.306.364

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

4.344.795

3.223.157

4.246.170

. . Beyond 12 months

388.000

216.000

271.000

. . Trade receivables

3.947.277

2.424.669

3.402.983

. . . . Within 12 months

3.559.277

2.208.669

3.131.983

. . . . Beyond 12 months

388.000

216.000

271.000

. . Receivables due from subsid. comp.

 

114.385

172.225

. . . . Within 12 months

 

114.385

172.225

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

18.126

191.726

381.545

. . . . Within 12 months

18.126

191.726

381.545

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

191.238

211.250

173.320

. . . . Within 12 months

191.238

211.250

173.320

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

431.817

379.398

266.648

. . . . Within 12 months

431.817

379.398

266.648

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

144.337

117.729

120.449

. . . . Within 12 months

144.337

117.729

120.449

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

4.732.795

3.439.157

4.517.170

. 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

116.645

100.020

100.020

. Total Financial Assets

116.645

100.020

100.020

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

19.066

21.416

132.118

. . Checks

 

 

 

. . Banknotes and coins

3.721

4.303

4.639

. Total Liquid funds

22.787

25.719

136.757

Total current assets

6.764.510

5.399.595

6.060.311

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

158.156

193.156

. Other adjustment accounts

152.440

 

 

Total adjustments accounts

152.440

158.156

193.156

TOTAL ASSETS

11.527.378

10.062.347

10.891.316

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

207.000

207.000

207.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

970.408

2.548.551

2.548.551

. Legal reserve

41.400

41.400

41.400

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

327.988

327.988

746.244

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

940.789

-1.578.143

-418.255

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

2.487.585

1.546.796

3.124.940

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

769.114

794.440

819.982

. . Other funds

220.522

165.890

256.449

Total Reserves for Risks and Charges

989.636

960.330

1.076.431

Employee termination indemnities

568.917

476.590

531.949

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

6.058.043

5.676.509

5.513.431

. . . . Beyond 12 months

1.421.052

1.398.108

642.606

. . 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

2.615.054

3.319.745

2.477.053

. . . . Within 12 months

1.217.770

1.931.498

1.907.212

. . . . Beyond 12 months

1.397.284

1.388.247

569.841

. . Due to other providers of finance

27.584

73.364

198.553

. . . . Within 12 months

3.816

63.503

125.788

. . . . Beyond 12 months

23.768

9.861

72.765

. . Advances from customers

509.790

249.975

830.900

. . . . Within 12 months

509.790

249.975

830.900

. . . . Beyond 12 months

 

 

 

. . Trade payables

3.178.562

1.805.615

1.475.529

. . . . Within 12 months

3.178.562

1.805.615

1.475.529

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

63.173

63.173

. . . . Within 12 months

 

63.173

63.173

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

456.773

449.311

. . . . Within 12 months

 

456.773

449.311

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

369.531

170.290

160.047

. . . . Within 12 months

369.531

170.290

160.047

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

235.415

134.467

185.224

. . . . Within 12 months

235.415

134.467

185.224

. . . . Beyond 12 months

 

 

 

. . Other payables

543.159

801.215

316.247

. . . . Within 12 months

543.159

801.215

316.247

. . . . Beyond 12 months

 

 

 

Total accounts payable

7.479.095

7.074.617

6.156.037

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

2.145

4.014

1.959

Total adjustment accounts

2.145

4.014

1.959

TOTAL LIABILITIES

11.527.378

10.062.347

10.891.316

 

 

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

 

Third party goods

 

 

 

Investment accounts

 

1.145.288

1.383.309

Risk accounts

 

672.354

694.975

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

11.034.711

6.517.166

9.221.824

. Changes in work in progress

-13.957

99.622

8.248

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

115.494

47.198

120.443

. . Contributions for operating expenses

70.225

 

 

. . Different income and revenues

45.269

47.198

120.443

Total value of production

11.136.248

6.663.986

9.350.515

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

4.709.697

3.687.544

3.681.771

. Services received

2.582.645

1.966.230

2.214.029

. Leases and rentals

227.033

350.817

438.142

. Payroll and related costs

1.823.704

1.796.381

2.088.608

. . Wages and salaries

1.324.820

1.315.494

1.543.517

. . Social security contributions

405.127

392.775

452.898

. . Employee termination indemnities

93.757

88.112

92.193

. . Pension and similar

 

 

 

. . Other costs

 

 

 

. Amortization and depreciation

326.131

543.246

264.857

. . Amortization of intangible fixed assets

57.678

52.111

30.601

. . Amortization of tangible fixed assets

141.981

141.110

138.586

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

126.472

350.025

95.670

. Changes in raw materials

-64.969

-437.912

443.777

. Provisions to risk reserves

 

 

 

. Other provisions

124.632

70.000

80.000

. Other operating costs

55.823

62.658

79.733

Total production costs

9.784.696

8.038.964

9.290.917

Diff. between value and cost of product.

1.351.552

-1.374.978

59.598

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

15.490

25.418

10.265

. . 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

 

25.418

10.265

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

25.418

10.265

. Interest and other financial expense

-175.997

-182.894

-142.353

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

182.894

142.353

Total financial income and expense

-160.507

-157.476

-132.088

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

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

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

-126.916

-249.500

-249.990

. . Of equity investments

-6.916

 

-160.950

. . Of financial fixed assets (no equity inv)

-120.000

-249.500

-89.040

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

-126.916

-249.500

-249.990

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

24.043

119.285

34.406

. . Gains on disposals

 

 

 

. . Other extraordinary income

24.043

119.285

34.406

. Extraordinary expense

-15.424

-16.786

-16.458

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

-3.916

. . Other extraordinary expense

-15.424

-16.786

-12.542

Total extraordinary income and expense

8.619

102.499

17.948

Results before income taxes

1.072.748

-1.679.455

-304.532

. Taxes on current income

131.959

-101.312

113.723

. . current taxes

209.704

36.980

97.330

. . differed taxes(anticip.)

-77.745

-138.292

16.393

. Net income for the period

940.789

-1.578.143

-418.255

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

940.789

-1.578.143

-418.255

 

 

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

0,40

0,45

0,43

0,18

Elasticity Ratio

Units

0,59

0,54

0,56

0,80

Availability of stock

Units

0,16

0,18

0,12

0,24

Total Liquidity Ratio

Units

0,42

0,35

0,44

0,48

Quick Ratio

Units

0,01

0,01

0,02

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

2,43

3,65

1,72

3,25

Self Financing Ratio

Units

0,22

0,15

0,29

0,19

Capital protection Ratio

Units

0,54

1,89

1,07

0,63

Liabilities consolidation quotient

Units

0,33

0,33

0,21

0,19

Financing

Units

3,01

4,57

1,97

3,80

Permanent Indebtedness Ratio

Units

0,39

0,34

0,39

0,36

M/L term Debts Ratio

Units

0,17

0,19

0,11

0,11

Net Financial Indebtedness Ratio

Units

1,05

2,18

0,81

0,63

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

0,97

0,76

0,93

1,75

Current ratio

Units

1,12

0,95

1,10

1,21

Acid Test Ratio-Liquidity Ratio

Units

0,80

0,63

0,86

0,81

Structure's primary quotient

Units

0,54

0,34

0,67

1,03

Treasury's primary quotient

Units

0,02

0,02

0,04

0,06

Rate of indebtedness ( Leverage )

%

463,40

650,53

348,53

516,42

Current Capital ( net )

Value

706.467

-276.914

546.880

422.465

RETURN

 

 

 

 

 

Return on Sales

%

11,48

-15,88

-1,66

3,35

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

%

37,82

-102,03

-13,38

5,13

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

%

43,12

-108,58

-9,75

14,77

Return on Investment ( R.O.I. )

%

11,72

-13,66

0,55

4,16

Return/ Sales

%

12,25

-21,10

0,65

4,11

Extra Management revenues/charges incid.

%

69,61

n.c.

-701,79

28,57

Cash Flow

Value

1.266.920

-1.034.897

-153.398

122.482

Operating Profit

Value

1.351.552

-1.374.978

59.598

144.752

Gross Operating Margin

Value

1.802.315

-761.732

404.455

241.990

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

128,78

133,94

132,85

111,85

Debts to suppliers average term

Days

152,18

139,43

112,99

128,30

Average stock waiting period

Days

61,73

101,35

51,00

80,43

Rate of capital employed return ( Turnover )

Units

0,96

0,65

0,85

1,08

Rate of stock return

Units

5,83

3,55

7,06

4,45

Labour cost incidence

%

16,53

27,56

22,65

19,12

Net financial revenues/ charges incidence

%

-1,45

-2,42

-1,43

-1,08

Labour cost on purchasing expenses

%

18,64

22,35

22,48

19,02

Short-term financing charges

%

2,35

2,59

2,31

2,68

Capital on hand

%

104,46

154,40

118,10

91,91

Sales pro employee

Value

299.368

116.377

141.874

198.432

Labour cost pro employee

Value

49.476

32.078

32.132

35.779

 

 

Remarks

 

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

 

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

 

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

 

 

Market / Territory Data

 

Population living in the province

:

831.356

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

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

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127

 

 

Sector Data

 

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.

 

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 13.782 protested subjects are found; in the province they count to 2.234.

The insolvency index for the region is 0,30, , while for the province it is 0,27.

Total Bankrupt companies in the province : 2.546.

Total Bankrupt companies in the region : 16.714.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.35

UK Pound

1

Rs.100.21

Euro

1

Rs.83.52

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.