.

MIRA INFORM REPORT

 

 

Report Date :

28.01.2014

 

IDENTIFICATION DETAILS

 

Name :

GUERCI S.R.L.

 

 

Registered Office :

Localita' Molinello,

22020 – Drezzo (CO)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

13.03.1997

 

 

Legal Form :

Limited liability company

 

 

Line of Business :

·         Processing and preserving of fish, crustaceans and molluscs

·         Wholesale of food, beverages and tobacco

·         Wholesale of freshly fished products

 

 

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 :

Slow but correct

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

 

GUERCI S.R.L.

 

Localita' Molinello,

 

22020 – Drezzo (CO) -IT-

 

 

Summary

 

Fiscal Code

:

12112940155

Legal Form

:

Limited liability company

start of Activities

:

01/11/2000

Equity

:

500.000

Turnover Range

:

20.000.000/25.000.000

Number of Employees

:

from 36 to 50

 

 

Activity

 

Processing and preserving of fish, crustaceans and molluscs

Wholesale of food, beverages and tobacco

Wholesale of freshly fished products

Non-specialised wholesale of deep-frozen products

Retail sale of fish, crustaceans and molluscs in specialised stores

 

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 12112940155

 

Chamber of Commerce no. : 254281 of Como since 24/03/2000

 

Chamber of Commerce no. : 274140 of Catania

 

Chamber of Commerce no. : 389854 of Genova

 

Chamber of Commerce no. : 1874990 of Monza e Brianza

 

Chamber of Commerce no. : 146635 of Sassari since 05/11/2003

 

Firms' Register : CO-2000-10996 of Como since 24/03/2000

 

V.A.T. Code : 02488810132

 

Foundation date

: 13/03/1997

Establishment date

: 13/03/1997

Start of Activities

: 01/11/2000

Legal duration

: 31/12/2050

Nominal Capital

: 325.000

 

Subscribed Capital

: 325.000

 

Paid up Capital

: 325.000

 

 

 

Members

 

Soracco

Antonio

 

 

Born in Milano

(MI)

on 07/11/1957

- Fiscal Code : SRCNTN57S07F205Q

 

 

Residence:

 

Liberta'

, 29

- 22012

Cernobbio

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

16/10/2003

 

 

Procurator

31/03/2005

 

 

Managing Director

20/12/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Soracco

Giovanni

 

 

Born in Como

(CO)

on 02/06/1952

- Fiscal Code : SRCGNN52H02C933N

 

 

Residence:

 

Cesare Poggi

, 18

- 22020

Torno

(CO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

20/12/2010

 

 

Board Chairman

20/12/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

 

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.

 

Soracco

Antonio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Guerci Di Soracco Antonio, Giovanni E C.- S.a.s. In Liquidazione

Drezzo (CO) - IT -

01852860137

General Partner

Withdrawn

Ceased

Guerci Di Soracco Antonio, Giovanni E C.- S.a.s. In Liquidazione

Drezzo (CO) - IT -

01852860137

Liquidator

Withdrawn

Ceased

S.g. Alimentari - S.r.l. In Liquidazione

Como (CO) - IT -

01911680138

Managing Director

Withdrawn

Ceased

S.g. Alimentari - S.r.l. In Liquidazione

Como (CO) - IT -

01911680138

Liquidator

Withdrawn

Ceased

Forcing - Societa' A Responsabilita' Limitata

Como (CO) - IT -

00682000138

Sole Director

Active

Registered

Guerci - Central Catering S.r.l.

Drezzo (CO) - IT -

00573040136

Director

Withdrawn

Ceased

Sorfin S.r.l.

Drezzo (CO) - IT -

01517660138

Chairman

Withdrawn

Ceased

Sorfin - S.n.c. Di Soracco Giovanni E C.In Liquidazione

Drezzo (CO) - IT -

01852850138

Partner

Withdrawn

Ceased

Sorfin - S.n.c. Di Soracco Giovanni E C.In Liquidazione

Drezzo (CO) - IT -

01852850138

Liquidator

Withdrawn

Ceased

Global Food Sud S.r.l. In Liquidazione

San Giorgio Ionico (TA) - IT -

02372070736

Liquidator

Withdrawn

Ceased

 

Soracco

Giovanni

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Guerci Di Soracco Antonio, Giovanni E C.- S.a.s. In Liquidazione

Drezzo (CO) - IT -

01852860137

General Partner

Withdrawn

Ceased

S.g. Alimentari - S.r.l. In Liquidazione

Como (CO) - IT -

01911680138

Managing Director

Withdrawn

Ceased

S.g. Alimentari - S.r.l. In Liquidazione

Como (CO) - IT -

01911680138

Liquidator

Withdrawn

Ceased

Guerci - Central Catering S.r.l.

Drezzo (CO) - IT -

00573040136

Director

Withdrawn

Ceased

Sorfin S.r.l.

Drezzo (CO) - IT -

01517660138

Director

Withdrawn

Ceased

Sorfin - S.n.c. Di Soracco Giovanni E C.In Liquidazione

Drezzo (CO) - IT -

01852850138

Partner

Withdrawn

Ceased

Ma.gi. S.r.l.

Como (CO) - IT -

03217480130

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.



Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Soracco Antonio

Cernobbio - IT -

SRCNTN57S07F205Q

162.500 .Eur

50,00

Soracco Giovanni

Torno - IT -

SRCGNN52H02C933N

162.500 .Eur

50,00

 

 

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

Sv.im. Consortium Consorzio Per Lo Svilu Ppo Delle Imprese Societa ' Consortile P

Bari - IT -

06868030724

250 .Eur

0,04

 

 

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

 

since 15/12/1999

 

 

 

 

 

 

Molinello

- 22020

- Drezzo

(CO)

- IT -

 

 

 

 

Total Surface: 320 Sq.mt.

 

 

 

 

PHONE

: 0315510011

 

-

Branch

(Shop)

since 01/11/2000

 

 

 

 

 

 

Roma

, 155/C

- 22077

- Olgiate Comasco

(CO)

- IT -

 

 

 

 

Trading Style: ALISUR

 

 

 

 

Total Surface: 320 Sq.mt.

 

 

 

 

PHONE

: 031802039

 

 

 

 

FAX

: 031802038

 

-

Branch

(Shop)

since 02/05/2001

 

 

 

 

 

 

Auguadri

, 20

- 22100

- Como

(CO)

- IT -

 

 

 

 

Trading Style: ALISUR - MERCATO DEL SURGELATO

 

 

 

 

Total Surface: 245 Sq.mt.

 

 

 

 

PHONE

: 031262699

 

 

 

 

FAX

: 031262535

 

-

Branch

(office)

since 12/05/1997

until 01/08/2000

 

 

 

 

 

 

Trento

, 7

- 22074

- Lomazzo

(CO)

- IT -

 

-

Branch

(Administrative office)

since 18/02/2013

 

 

 

 

 

 

Valtellina

, 6

- 22070

- Montano Lucino

(CO)

- IT -

 

-

Branch

(office)

since 10/12/2001

 

 

 

 

 

 

Poggio Lupo

- 95045

- Misterbianco

(CT)

- IT -

 

-

Branch

(Warehouse)

since 01/12/2000

 

 

 

 

 

 

San Terenziano

, 50

- 16040

- Leivi

(GE)

- IT -

 

-

Branch

(Shop)

since 29/10/2010

 

 

 

 

 

 

Einaudi

, 10

- 20038

- Seregno

(MB)

- IT -

 

 

 

 

Total Surface: 460 Sq.mt.

 

-

Branch

(Store)

since 20/09/2003

 

 

 

 

 

 

Industriale Priedda Niedda

, STR-18

- 07100

- Sassari

(SS)

- IT -

 

 

 

 

Employees

: 36

 

Fittings and Equipment for a value of 400.000

Eur

 

Stocks for a value of 3.810.000

Eur

 

Vehicles: 4.

 

Trade organization: direct or by agents.

Sales area on a regional scale.

 

 

Import comes generally from the following nations:

- Greece

 

- Germany

 

- Spain

 

- Ireland

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

15/12/1999

Joint stock company

Limited liability company

20/12/2010

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Ristofood Srl

Guerci SpA

15/12/1999

 

EX-MEMBERS / EX-POSITIONS:

 

Soracco

Giovanni

 

 

Born in Como

(CO)

on 02/06/1952

- Fiscal Code : SRCGNN52H02C933N

 

 

Residence:

 

Cesare Poggi

, 18

- 22020

Torno

(CO)

- IT -

 

Ex-Postions

Sole Director

 

Benedini

Ernesto

 

 

Born in La Spezia

(SP)

on 09/09/1934

- Fiscal Code : BNDRST34P09E463Z

 

 

Residence:

 

Via Mazzini

, 17

Lugano

- CH -

 

Ex-Postions

Permanent Auditor

 

Pozzolini

Renato

 

 

Born in Pisa

(PI)

on 22/09/1930

- Fiscal Code : PZZRNT30P22G702W

 

 

Residence:

 

Valleggio

, 2/BIS

- 22100

Como

(CO)

- IT -

 

Ex-Postions

Permanent Auditor

 

Parrinello

Mauro

 

 

Born in Como

(CO)

on 01/12/1962

- Fiscal Code : PRRMRA62T01C933I

 

 

Residence:

 

Valleggio

, 2/BIS

- 22100

Como

(CO)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Lolli

Lino

 

 

Born in Marzabotto

(BO)

on 30/08/1930

- Fiscal Code : LLLLNI30M30B689C

 

 

Residence:

 

Muggio'

, 23/A

- 22100

Como

(CO)

- IT -

 

Ex-Postions

Temporary Auditor

 

Pozzolini

Andrea

 

 

Born in Vercelli

(VC)

on 18/09/1959

- Fiscal Code : PZZNDR59P18L750L

 

 

Residence:

 

Valleggio

, 2

- 22100

Como

(CO)

- IT -

 

Ex-Postions

Temporary Auditor

 

CEASINGS/INCORPORATIONS/MERGES:

 

The firm took over the activity of

 

 

 

Guerci Di Soracco Antonio, Giovanni E C.- S.a.s. In Liquidazione

 

 

 

Molinello

, 22020

, Drezzo

(CO)

- IT -

 

 

Fiscal Code: 01852860137

 

 

Date

:

15/12/1997



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 2000

Balance sheets for the years 2010, 2011 and 2012 were analyzed.

In the economic management , good and bad results followed on by turns. yet with a positive result in the 2012 (r.o.e. 2,56%). The turnover is falling if compared with the previous financial year (eamp;FAT1eamp;%).

The operating result in 2012 was positive (4,03%) and in line with the sector's average.

The amount of the operating result is equal to Eur. 518.994 showing a fall as opposed to the previous year (-28,87%).

The G.O.M. amounted to Eur. 875.847 with no sensible increase as against 2011.

Short-term debts volume if compared to net worth, as it comes out from the total indebtedness (24,09) falling as opposed to the year before.

Subject can manage an equity capital funds for an amount of Eur. 449.272 on the same levels as the year before.

During the last financial year total debts volume reached Eur. 11.861.944 (Eur. 873.100 were m/l term ones) showing a stable trend as opposed to 2011 (Eur. 13.741.031).

If compared to the net worth, debts towards banks are remarkably high while the recourse to commercial credit is modest below the sector's average.

Liquidity is not at its best.

Credits are collected in 85,92 days on the average. , more or less in line with the average of the sector.

2012 financial year closed with a cash flow of Eur. 368.347

Subordinate employment cost is of Eur. 1.416.618, i.e. 6,68% on total production costs. , with a 6,53% incidence on turnover.

The financial management is marked by a high incidence of financial charges in relation to sales revenues (-2,13%).

Financial Data

 

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

21.696.187

Profit (Loss) for the period

11.494

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

26.878.931

Profit (Loss) for the period

56.136

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

26.713.596

Profit (Loss) for the period

-738.213

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

25.805.298

Profit (Loss) for the period

94.355

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

25.256.599

Profit (Loss) for the period

103.767



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

2.975

 

 

. . Research,develop. and advert.expens.

53.684

52.789

31.460

. . Industrial patent rights

64.539

56.257

43.127

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

27.654

55.308

82.962

. . Assets in formation and advance paymen.

 

 

5.000

. . Other intangible fixed assets

16.965

27.880

27.895

. Total Intangible Fixed Assets

165.817

192.234

190.444

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

2.045.810

2.115.744

1.991.455

. . Plant and machinery

375.235

468.020

477.312

. . Industrial and commercial equipment

24.876

35.990

34.713

. . Other assets

148.028

137.119

89.821

. . Assets under construction and advances

950

950

41.913

. Total Tangible fixed assets

2.594.899

2.757.823

2.635.214

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

150

150

150

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

150

150

150

. . Financial receivables

28.045

44.336

40.036

. . . . Within 12 months

28.045

44.336

40.036

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

28.045

44.336

40.036

. . . . Within 12 months

28.045

44.336

40.036

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

28.195

44.486

40.186

Total fixed assets

2.788.911

2.994.543

2.865.844

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

68.666

112.099

114.371

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

3.706.318

5.039.087

4.291.942

. . Advance payments

31.302

26.078

49.595

. Total Inventories

3.806.286

5.177.264

4.455.908

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

6.075.057

6.404.601

7.463.652

. . Beyond 12 months

 

 

 

. . Trade receivables

5.178.043

5.809.726

6.971.366

. . . . Within 12 months

5.178.043

5.809.726

6.971.366

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

284.420

188.559

286.410

. . . . Within 12 months

284.420

188.559

286.410

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

73.992

67.720

55.653

. . . . Within 12 months

73.992

67.720

55.653

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

538.602

338.596

150.223

. . . . Within 12 months

538.602

338.596

150.223

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

6.075.057

6.404.601

7.463.652

. 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

 

 

 

. Total Financial Assets

 

 

 

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

88.169

55.242

235.999

. . Checks

 

 

 

. . Banknotes and coins

77.325

69.761

56.816

. Total Liquid funds

165.494

125.003

292.815

Total current assets

10.046.837

11.706.868

12.212.375

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

56.341

77.902

55.275

Total adjustments accounts

56.341

77.902

55.275

TOTAL ASSETS

12.892.089

14.779.313

15.133.494

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

325.000

325.000

516.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

53.326

 

 

. Legal reserve

2.810

 

 

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

56.642

56.644

478.854

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

11.494

56.136

-738.213

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

449.272

437.780

256.641

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

 

 

 

. . Other funds

 

 

 

Total Reserves for Risks and Charges

 

 

 

Employee termination indemnities

580.327

600.502

439.254

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

10.988.844

12.458.970

12.794.799

. . . . Beyond 12 months

873.100

1.282.061

1.642.800

. . 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

7.928.056

8.510.430

8.599.080

. . . . Within 12 months

7.054.956

7.228.369

6.956.280

. . . . Beyond 12 months

873.100

1.282.061

1.642.800

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

13.722

5.615

4.275

. . . . Within 12 months

13.722

5.615

4.275

. . . . Beyond 12 months

 

 

 

. . Trade payables

3.385.237

4.130.211

4.673.766

. . . . Within 12 months

3.385.237

4.130.211

4.673.766

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

224.908

474.072

592.230

. . . . Within 12 months

224.908

474.072

592.230

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

85.307

109.213

149.214

. . . . Within 12 months

85.307

109.213

149.214

. . . . Beyond 12 months

 

 

 

. . Other payables

224.714

511.490

419.034

. . . . Within 12 months

224.714

511.490

419.034

. . . . Beyond 12 months

 

 

 

Total accounts payable

11.861.944

13.741.031

14.437.599

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

546

 

 

Total adjustment accounts

546

 

 

TOTAL LIABILITIES

12.892.089

14.779.313

15.133.494

 

 

 

 

 

 

 

 

 

  PROFIT AND LOSS ACCOUNTS

 

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

21.696.187

26.878.931

26.713.596

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

23.336

265.294

389.770

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

23.336

265.294

389.770

Total value of production

21.719.523

27.144.225

27.103.366

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

15.065.066

21.425.686

21.362.097

. Services received

2.671.713

3.192.789

3.219.397

. Leases and rentals

227.946

258.734

270.395

. Payroll and related costs

1.416.618

1.438.473

1.444.932

. . Wages and salaries

1.030.289

1.083.651

1.066.091

. . Social security contributions

282.452

261.216

300.557

. . Employee termination indemnities

103.877

93.606

78.284

. . Pension and similar

 

 

 

. . Other costs

 

 

 

. Amortization and depreciation

356.853

335.150

316.851

. . Amortization of intangible fixed assets

85.502

88.964

73.350

. . Amortization of tangible fixed assets

244.726

227.404

213.517

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

26.625

18.782

29.984

. Changes in raw materials

1.376.202

-744.873

-608.696

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

86.131

508.533

835.745

Total production costs

21.200.529

26.414.492

26.840.721

Diff. between value and cost of product.

518.994

729.733

262.645

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

11.633

7.172

1.701

. . 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

 

 

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-473.710

-511.972

-360.958

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-462.077

-504.800

-359.257

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

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

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

 

 

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

 

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

73.910

 

 

. . Gains on disposals

 

 

 

. . Other extraordinary income

73.910

 

 

. Extraordinary expense

 

 

-547.460

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

-547.459

. . Other extraordinary expense

 

 

-1

Total extraordinary income and expense

73.910

 

-547.460

Results before income taxes

130.827

224.933

-644.072

. Taxes on current income

119.333

168.797

94.141

. . current taxes

125.604

180.865

94.141

. . differed taxes(anticip.)

-6.271

-12.068

 

. Net income for the period

11.494

56.136

-738.213

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

11.494

56.136

-738.213

 

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

0,22

0,20

0,19

0,13

Elasticity Ratio

Units

0,78

0,79

0,81

0,85

Availability of stock

Units

0,30

0,35

0,29

0,16

Total Liquidity Ratio

Units

0,48

0,44

0,51

0,62

Quick Ratio

Units

0,01

0,01

0,02

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

24,09

28,17

48,71

5,02

Self Financing Ratio

Units

0,03

0,03

0,02

0,13

Capital protection Ratio

Units

0,25

0,13

1,87

0,58

Liabilities consolidation quotient

Units

0,13

0,15

0,16

0,10

Financing

Units

26,40

31,39

56,26

6,17

Permanent Indebtedness Ratio

Units

0,15

0,16

0,15

0,25

M/L term Debts Ratio

Units

0,11

0,13

0,14

0,07

Net Financial Indebtedness Ratio

Units

17,28

19,15

32,37

1,16

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

0,68

0,77

0,82

1,57

Current ratio

Units

0,91

0,94

0,95

1,09

Acid Test Ratio-Liquidity Ratio

Units

0,57

0,52

0,61

0,85

Structure's primary quotient

Units

0,16

0,15

0,09

0,96

Treasury's primary quotient

Units

0,02

0,01

0,02

0,05

Rate of indebtedness ( Leverage )

%

2869,55

3375,97

5896,76

743,68

Current Capital ( net )

Value

-942.007

-752.102

-582.424

70.465

RETURN

 

 

 

 

 

Return on Sales

%

1,70

1,46

-1,58

1,66

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

%

2,56

12,82

-287,64

6,68

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

%

29,12

51,38

-250,96

19,39

Return on Investment ( R.O.I. )

%

4,03

4,94

1,74

3,84

Return/ Sales

%

2,39

2,71

0,98

2,16

Extra Management revenues/charges incid.

%

2,21

7,69

-281,07

28,56

Cash Flow

Value

368.347

391.286

-421.362

48.046

Operating Profit

Value

518.994

729.733

262.645

59.910

Gross Operating Margin

Value

875.847

1.064.883

579.496

99.701

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

85,92

77,81

93,95

86,56

Debts to suppliers average term

Days

67,84

59,77

67,70

100,32

Average stock waiting period

Days

63,16

69,34

60,05

31,97

Rate of capital employed return ( Turnover )

Units

1,68

1,82

1,77

1,82

Rate of stock return

Units

5,70

5,19

6,00

11,18

Labour cost incidence

%

6,53

5,35

5,41

5,95

Net financial revenues/ charges incidence

%

-2,13

-1,88

-1,34

-0,81

Labour cost on purchasing expenses

%

6,68

5,45

5,38

5,95

Short-term financing charges

%

3,99

3,73

2,50

2,18

Capital on hand

%

59,42

54,98

56,65

54,67

Sales pro employee

Value

542.404

671.973

742.044

507.074

Labour cost pro employee

Value

35.415

35.961

40.137

32.650

 

 

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

:

560.941

Population living in the region

:

9.393.092

Number of families in the region

:

3.858.736

 

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

 

- per food products

:

460

- per non food products

:

2.090

- per energy consume

:

114

 

 

Sector Data

 

The values are calculated on a base of 5.101 significant companies.

 

The companies cash their credits on an average of 87 dd.

The average duration of suppliers debts is about 100 dd.

The sector's profitability is on an average of 1,66%.

The labour cost affects the turnover in the measure of 5,95%.

Goods are held in stock in a range of 32 dd.

The difference between the sales volume and the resources used to realize it is about 1,82.

The employees costs represent the 5,95% of the production costs.

 

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered moderately risky.

In the region 50.886 protested subjects are found; in the province they count to 3.842.

The insolvency index for the region is 0,55, , while for the province it is 0,70.

Total Bankrupt companies in the province : 2.010.

Total Bankrupt companies in the region : 39.612.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.71

UK Pound

1

Rs.103.50

Euro

1

Rs.85.82

 

 

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.