MIRA INFORM REPORT

 

 

Report Date :

10.05.2014              

 

IDENTIFICATION DETAILS

 

Name :

PHARD S.P.A.

 

 

Registered Office :

Via Dei Fiorentini, 21   80133 – Napoli (NA)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.01.1990

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Wholesale of clothing and accessories

 

 

No. of Employees :

From 91 to 110

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 higher. 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 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level

 

Source : CIA

 

Company name and address

 

PHARD S.P.A.

 

 

Via Dei Fiorentini,  21   80133 – Napoli (NA) -IT-

 

 

Summary

 

Fiscal Code

:

05077500634

Legal Form

:

Joint stock company

start of Activities

:

12/01/1990

Equity

:

Unknown.

Turnover Range

:

25.000.000/35.000.000

Number of Employees

:

from 91 to 110

Firm's Status

:

Composition with creditors

 

 

Highlights

 

Phard S.p.A. manufactures and markets fashion wear including footwear

 

and accessories for children, teenagers and women.

 

It is necessary to stress that starting from 2009 financial situation

 

was downward and that the company tried to overcome this period but the

 

global financial and economic recession badly influenced its trend.

 

Several restructuring measures were attempted to curb expenditures, loss

 

registering outlets were closed, cuts in the staff were made.

 

The company was forced to ask for important bank loans to face the situation

 

and so the financial situation became unbalanced.

 

2010 b/s is the latest filed.

 

For the year 2011 the company was forced to apply for State Indemnity Fund for a

 

part of its employees.

 

On 13.6.2012 the company signed a debt restructuring agreement with its creditors,

 

the main one being Equitalia (Tax agency) towards which Phard SpA exceeds 10 mio

 

Euro.

 

Furthermore, on 23.4.2013 subject applied for composition agreement with its

 

creditors to the Court of Nola (PROT.GEN.11297/2013).

 

So far the procedure has not been granted yet.

 

Latest b/s available relates to financial year 2010.

 


 

Activity

 

Wholesale of clothing and accessories

 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 05077500634

 

Foreign Trade Reg. no. : NA019250 since 17/03/1995

 

Chamber of Commerce no. : 332151 of Bologna

 

Chamber of Commerce no. : 280439 of Caserta

 

Chamber of Commerce no. : 1443413 of Milano

 

Chamber of Commerce no. : 414822 of Napoli since 06/10/1986

 

Chamber of Commerce no. : 787981 of Roma

 

Chamber of Commerce no. : 130285 of Teramo

 

Chamber of Commerce no. : 153323 of Teramo

 

Firms' Register : NA049-1986-5183 of Napoli since 19/02/1996

 

V.A.T. Code : 05077500634

 

R. E. C. no. : 95351 of Napoli since 18/02/1987

 

Foundation date

: 23/09/1986

Establishment date

: 23/09/1986

Start of Activities

: 12/01/1990

Legal duration

: 31/12/2080

Nominal Capital

: 11.632.500

 

Subscribed Capital

: 11.632.500

 

Paid up Capital

: 11.632.500

 

 

 

Members

 

Cosi

Fausto

 

 

Born in Firenze

(FI)

on 03/12/1961

- Fiscal Code : CSOFST61T03D612B

 

 

Residence:

 

Isidoro Del Lungo

, 3

- 50121

Firenze

(FI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

17/11/2009

 

 

Managing Director

17/11/2009

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Semonella

Giorgio

 

 

Born in Napoli

(NA)

on 15/03/1957

- Fiscal Code : SMNGRG57C15F839V

 

 

Residence:

 

Nuova Del Faro

, 122

- 80071

Anacapri

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Auditor

16/10/2013

 

 

 

Mira D' Ercole

Marina

 

 

Born in Gattinara

(VC)

on 23/08/1956

- Fiscal Code : MRDMRN56M63D938P

 

 

Residence:

 

Lunga

, 47

- 10099

San Mauro Torinese

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/07/2009

 

 

 

Pagni

Leonardo

 

 

Born in Pontedera

(PI)

on 03/07/1958

- Fiscal Code : PGNLRD58L03G843P

 

 

Residence:

 

Di Contra

, 17

- 55041

Camaiore

(LU)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

17/11/2009

 

 

 

Gazzaniga

Giorgio Maria

 

 

Born in Milano

(MI)

on 19/01/1957

- Fiscal Code : GZZGGM57A19F205G

 

 

Residence:

 

Teodosio

, 6

- 20131

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

22/07/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Visciano

Lucio

 

 

Born in Caserta

(CE)

on 27/11/1955

- Fiscal Code : VSCLCU55S27B963X

 

 

Residence:

 

Dei Fiorentini

, 21

- 80133

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/07/2009

 

 

Board Chairman

30/07/2009

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Liguoro

Raimondo

 

 

Born in Torre del Greco

(NA)

on 19/01/1956

- Fiscal Code : LGRRND56A19L259M

 

 

Residence:

 

A.rossi

, 116

- 80056

Ercolano

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

17/02/5101

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Leombruno

Roberto

 

 

Born in Napoli

(NA)

on 02/12/1967

- Fiscal Code : LMBRRT67T02F839T

 

 

Residence:

 

Antichi Gradini

, 34/2

- 80014

Giugliano in Campania

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

17/02/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Spinozzi

Sonia

 

 

Born in Pianella

(PE)

on 27/08/1962

- Fiscal Code : SPNSNO62M67G555M

 

 

Residence:

 

Nicola Fabrizi

, 11

- 65122

Pescara

(PE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

22/07/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Cagnetta

Sabino

 

 

Born in Foggia

(FG)

on 20/04/1958

- Fiscal Code : CGNSBN58D20D643S

 

 

Residence:

 

Dei Gladioli

, B/7

- 70016

Noicattaro

(BA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

22/07/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Erelid S.a.

 

 

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

 

 

 

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.

 

Cosi

Fausto

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Irplast - S.p.a.

Empoli (FI) - IT -

01295310484

Managing Director

Active

Debt restructuring agreement

Irplast - S.p.a.

Empoli (FI) - IT -

01295310484

Director

Active

Debt restructuring agreement

Irplast - S.p.a.

Empoli (FI) - IT -

01295310484

Board Chairman

Active

Debt restructuring agreement

Camar - S.r.l.

Firenze (FI) - IT -

00475210480

Temporary Auditor

Withdrawn

Registered

Acc Compressors S.p.a.

Pordenone (PN) - IT -

00198140261

Director

Active

Controlled administration

Bimo Italia S.p.a.

Empoli (FI) - IT -

01417170691

Managing Director

Withdrawn

Merged

Bimo Italia S.p.a.

Empoli (FI) - IT -

01417170691

Director

Withdrawn

Merged

Bimo Italia S.p.a.

Empoli (FI) - IT -

01417170691

Board Chairman

Withdrawn

Merged

Espireca S.r.l.

Napoli (NA) - IT -

10587740159

Managing Director

Active

Registered

Espireca S.r.l.

Napoli (NA) - IT -

10587740159

Director

Active

Registered

Phard Magazine S.r.l.

Napoli (NA) - IT -

07221540631

Managing Director

Active

Registered

Phard Magazine S.r.l.

Napoli (NA) - IT -

07221540631

Director

Active

Registered

Irplast Holding S.r.l.

Empoli (FI) - IT -

05900580480

Director

Active

Registered

Irplast Holding S.r.l.

Empoli (FI) - IT -

05900580480

Sole Director

Withdrawn

Registered

Irplast Holding S.r.l.

Empoli (FI) - IT -

05900580480

Board Chairman

Active

Registered

Immobiliare Porta Volta S.r.l.

Empoli (FI) - IT -

04135720961

Liquidator

Active

Registered

Polimoda Consulting S.r.l.

Firenze (FI) - IT -

05222840489

Director

Withdrawn

Registered

Polimoda Consulting S.r.l.

Firenze (FI) - IT -

05222840489

General Director

Withdrawn

Registered

Household Compressors Holding S.p.a. InForma Abbreviata Hch S.p.a.

Pordenone (PN) - IT -

04020270965

Director

Active

Registered

Far Service Societa' A Responsabilita' Limitata Societa' Unipersonale

Napoli (NA) - IT -

06704401212

Managing Director

Active

Registered

Far Service Societa' A Responsabilita' Limitata Societa' Unipersonale

Napoli (NA) - IT -

06704401212

Director

Active

Registered

"tb Buti International S.r.l."

Firenze (FI) - IT -

05332630481

Sole Director

Withdrawn

Registered

San Martino S.r.l.

Montaione (FI) - IT -

05843070482

Sole partner

Active

Registered

Phard Partecipazioni S.p.a.

Napoli (NA) - IT -

07180181211

Director

Withdrawn

Registered

New Elements S.r.l.

Napoli (NA) - IT -

07560031218

Director

Active

Registered

Costruire S.r.l.

Firenze (FI) - IT -

06436690488

Sole Director

Active

Registered

 

Visciano

Lucio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Alisud S.p.a.

Napoli (NA) - IT -

05354770637

Chairman of the Board of Aud.

Active

Registered

Italhandling Srl

Napoli (NA) - IT -

05454700633

Chairman of the Board of Aud.

Active

Registered

Jengo S.p.a.

Napoli (NA) - IT -

07037920639

Permanent Auditor

Withdrawn

Registered

Don't Corporation S.r.l.

Napoli (NA) - IT -

06911230636

Chairman of the Board of Aud.

Withdrawn

Registered

Finmazza S.p.a.

Napoli (NA) - IT -

07100600639

Chairman of the Board of Aud.

Active

Registered

Finmazza S.p.a.

Napoli (NA) - IT -

07100600639

Permanent Auditor

Active

Registered

Isofin S.p.a. Istituto Orafo Finanziario

Napoli (NA) - IT -

07155200632

Chairman of the Board of Aud.

Active

Registered

Isofin S.p.a. Istituto Orafo Finanziario

Napoli (NA) - IT -

07155200632

Permanent Auditor

Withdrawn

Registered

Elma Finanziaria Spa

San Giorgio a Cremano (NA) - IT -

03376871210

Chairman of the Board of Aud.

Active

Registered

Espireca S.r.l.

Napoli (NA) - IT -

10587740159

Director

Withdrawn

Registered

Espireca S.r.l.

Napoli (NA) - IT -

10587740159

Board Chairman

Active

Registered

Phard Magazine S.r.l.

Napoli (NA) - IT -

07221540631

Director

Active

Registered

Phard Magazine S.r.l.

Napoli (NA) - IT -

07221540631

Permanent Auditor

Withdrawn

Registered

Phard Magazine S.r.l.

Napoli (NA) - IT -

07221540631

Board Chairman

Active

Registered

Finmed S.p.a.

Napoli (NA) - IT -

07428640630

Chairman of the Board of Aud.

Withdrawn

Registered

Gh Napoli S.p.a.

Napoli (NA) - IT -

07591080630

Chairman of the Board of Aud.

Active

Registered

Hotel Imperial Garden S.r.l.

Montecatini-Terme (PT) - IT -

00944450477

Temporary Auditor

Withdrawn

Registered

I.me.fin S.p.a.

Napoli (NA) - IT -

07413180634

Chairman of the Board of Aud.

Active

Registered

Gh Venezia S.p.a.

Venezia (VE) - IT -

03553670260

Chairman of the Board of Aud.

Active

Registered

Gh Venezia S.p.a.

Venezia (VE) - IT -

03553670260

Permanent Auditor

Withdrawn

Registered

Ready Made S.r.l. In Liquidazione

Napoli (NA) - IT -

01400010672

Chairman of the Board of Aud.

Withdrawn

Registered

C.e.a.n. S.p.a.

Napoli (NA) - IT -

07758590637

Chairman of the Board of Aud.

Active

Registered

Alca Finanziaria S.p.a.

Napoli (NA) - IT -

07793570636

Chairman of the Board of Aud.

Active

Registered

Med Holding Societa' A Responsabilita' LImitata Detta Brevemente "med Holding S.

Napoli (NA) - IT -

05699771217

Chairman of the Board of Aud.

Withdrawn

In liquidation

Pamiro S.r.l.

Napoli (NA) - IT -

04609811213

Director

Active

Registered

" Demi Group S.p.a."

Napoli (NA) - IT -

05904331211

Permanent Auditor

Withdrawn

Registered

Gh Italia S.r.l.

Fiumicino (RM) - IT -

05035541217

Chairman of the Board of Aud.

Active

Registered

Marc Societa' Per Azioni

Napoli (NA) - IT -

05589681211

Chairman of the Board of Aud.

Withdrawn

Registered

Relish Societa' A Responsabilita' Limitata Detta Brevemente Relish S.r.l.

Napoli (NA) - IT -

06117451218

Chairman of the Board of Aud.

Withdrawn

Registered

Dga Holding Societa' A Responsabilita' Limitata Detta Brevemente Dga Holding S.

Napoli (NA) - IT -

06052971212

Chairman of the Board of Aud.

Withdrawn

Registered

Leoncavallo S.p.a.

Napoli (NA) - IT -

07939160631

Permanent Auditor

Withdrawn

Ceased

Katane Handling S.r.l.

Catania (CT) - IT -

04667580874

Temporary Auditor

Active

Registered

Far Service Societa' A Responsabilita' Limitata Societa' Unipersonale

Napoli (NA) - IT -

06704401212

Board Chairman

Active

Registered

Consorzio Partenofin

Napoli (NA) - IT -

06774081217

Board of Directors' chairman

Active

Registered

Marconi Handling S.r.l.

Bologna (BO) - IT -

02358431209

Permanent Auditor

Active

Registered

Marconi Handling S.r.l.

Bologna (BO) - IT -

02358431209

Temporary Auditor

Withdrawn

Registered

Alisud - Gesac Handling - Servisair 2 -Societa' Consortile A Res Onsabilita' Li

Napoli (NA) - IT -

07932510634

Chairman of the Board of Aud.

Active

Registered

Alisud - Gesac Handling - Servisair 2 -Societa' Consortile A Res Onsabilita' Li

Napoli (NA) - IT -

07932510634

Permanent Auditor

Withdrawn

Registered

Phard Partecipazioni S.p.a.

Napoli (NA) - IT -

07180181211

Director

Withdrawn

Registered

Phard Partecipazioni S.p.a.

Napoli (NA) - IT -

07180181211

Board Chairman

Withdrawn

Registered

New Elements S.r.l.

Napoli (NA) - IT -

07560031218

Director

Active

Registered

New Elements S.r.l.

Napoli (NA) - IT -

07560031218

Board Chairman

Active

Registered

Gh Aircraft Cleaning Services S.r.l.

Fiumicino (RM) - IT -

05204011216

Chairman of the Board of Aud.

Active

Registered

Gh Verona S.r.l.

Sommacampagna (VR) - IT -

04219180231

Chairman of the Board of Aud.

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

Esposito Roberto

Alba Adriatica - IT -

SPSRRT64C25F839O

1.799.723 .Eur

15,47

Esposito Maurizio

Volla - IT -

SPSMRZ61D10F839B

1.799.723 .Eur

15,47

Esposito Alessandro

Napoli - IT -

SPSLSN69R27F839S

1.799.082 .Eur

15,46

Esposito Concetta

Portici - IT -

SPSCCT58D59F839L

999.345 .Eur

8,59

Erelid S.a.

 

97456130158

5.234.625 .Eur

45,00



Firm's location and structure

 

-

Legal and operative seat

 

since 23/09/1991

 

 

 

 

 

 

Dei Fiorentini

, 21

- 80100

- Napoli

(NA)

- IT -

 

 

 

 

PHONE

: 0815109161

 

 

 

 

FAX

: 0815108127

 

-

Branch

(Warehouse)

since 10/11/2009

 

 

 

 

 

Int. Campano Lotto O Ed. Phard

- 80035

- Nola

(NA)

- IT -

 

-

Branch

(Wholesale store)

since 03/03/1991

until 19/06/2012

 

 

 

 

 

 

Cis Isola 1

, 133

- 80035

- Nola

(NA)

- IT -

 

 

 

 

PHONE

: 0815108122

 

-

Branch

(Warehouse)

since 22/03/2013

 

 

 

 

 

 

Ficucella

, S.N.C.

- 81020

- Maddaloni

(CE)

- IT -

 

-

Branch

(Warehouse)

since 01/02/2011

 

 

 

 

 

 

Pascoli

, SNC

- 64023

- Mosciano Sant'Angelo

(TE)

- IT -

 

 

 

 

Employees

: 96

 

Fittings and Equipment for a value of 49.000

Eur

 

Stocks for a value of 3.030.000

Eur

 

Trade organization: direct or by agents.

The company supplies wholesalers and resellers.

 

 

The subject firm uses the following own selling brands:

- PHARD

 

 

Traded Brands / Suppliers

 

- Espireca S.r.l.

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited partnership

Joint stock company

29/12/1993

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Phard Sas di Roberto Esposito

 

29/12/1993

 

EX-MEMBERS / EX-POSITIONS:

 

Esposito

Roberto

 

 

Born in Napoli

(NA)

on 25/03/1964

- Fiscal Code : SPSRRT64C25F839O

 

 

Residence:

 

Duca D'aosta

, 85

- 64011

Alba Adriatica

(TE)

- IT -

 

Ex-Postions

Director

Managing Director

 

Esposito

Alessandro

 

 

Born in Napoli

(NA)

on 27/10/1969

- Fiscal Code : SPSLSN69R27F839S

 

 

Residence:

 

Orazio

, 6

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Director

 

Nepi

Lorenzo

 

 

Born in Siena

(SI)

on 07/09/1937

- Fiscal Code : NPELNZ37P07I726U

 

 

Residence:

 

Di San Pietro

, 21

- 53100

Siena

(SI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Pellone

Francesco

 

 

Born in Napoli

(NA)

on 08/03/1960

- Fiscal Code : PLLFNC60C08F839C

 

 

Residence:

 

Antonio Gramsci

, 17/B

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Temporary Auditor

 

Cornelli

Ciro Piero

 

 

Born in Milano

(MI)

on 28/11/1959

- Fiscal Code : CRNCPR59S28F205M

 

 

Residence:

 

Durini

, 16/18

- 20122

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Galli

Corrado

 

 

Born in Firenze

(FI)

on 08/12/1966

- Fiscal Code : GLLCRD66T08D612R

 

 

Residence:

 

Della Torre Del Gallo

, 9

- 50125

Firenze

(FI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Passante

Gesualdo

 

 

Born in Napoli

(NA)

on 06/11/1954

- Fiscal Code : PSSGLD54S06F839I

 

 

Residence:

 

F. Baracca

, 28

- 80016

Marano di Napoli

(NA)

- IT -

 

Ex-Postions

Temporary Auditor

Permanent Auditor

 

Semonella

Giorgio

 

 

Born in Napoli

(NA)

on 15/03/1957

- Fiscal Code : SMNGRG57C15F839V

 

 

Residence:

 

Nuova Del Faro

, 122

- 80071

Anacapri

(NA)

- IT -

 

Ex-Postions

Permanent Auditor

 

Cosi

Fausto

 

 

Born in Firenze

(FI)

on 03/12/1961

- Fiscal Code : CSOFST61T03D612B

 

 

Residence:

 

Edimburgo

, 2

- 50100

Firenze

(FI)

- IT -

 

Ex-Postions

Director

Managing Director

 

Canale

Marco

 

 

Born in Napoli

(NA)

on 12/11/1959

- Fiscal Code : CNLMRC59S12F839C

 

 

Residence:

 

Benaco

, 7

- 00100

Roma

(RM)

- IT -

 

Ex-Postions

Director

 

Sangalli

Luca Marco

 

 

Born in Milano

(MI)

on 01/02/1967

- Fiscal Code : SNGLMR67B01F205B

 

 

Residence:

 

Decembrio Pier Candido

, 21

- 20137

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Vacchino

Paolo

 

 

Born in Milano

(MI)

on 07/07/1967

- Fiscal Code : VCCPLA67L07F205Y

 

 

Residence:

 

Boschetti

, 6

- 20121

Milano

(MI)

- IT -

 

Ex-Postions

Board Chairman

 

Ceravolo

Matteo Alfonso

 

 

Born in Citta' di Castello

(PG)

on 11/05/1974

- Fiscal Code : CRVMTL74E11C745G

 

 

Residence:

 

Gustavo Modena

, 26

- 20129

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Pellone

Sergio

 

 

Born in Napoli

(NA)

on 05/06/1969

- Fiscal Code : PLLSRG69H05F839W

 

 

Residence:

 

Giacomo Matteotti

, 10

- 20121

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Ruggiero

Gaetano

 

 

Born in Napoli

(NA)

on 07/03/1968

- Fiscal Code : RGGGTN68C07F839Z

 

 

Residence:

 

Vittorio Emanuele

, 122/A

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Director

 

Squilloni

Edoardo

 

 

Born in Firenze

(FI)

on 02/10/1980

- Fiscal Code : SQLDRD80R02D612Y

 

 

Residence:

 

Giacomo Matteotti

, 30

- 59100

Prato

(PO)

- IT -

 

Ex-Postions

Temporary Auditor

 


 

CEASINGS/INCORPORATIONS/MERGES

 

Splitting-up project and setting-up of new co

 

 

Date

Merging/Splitting-up Project-New Company:

24/10/2006

 

Splitting-up and transfer of assets to

 

 

 

MARC SOCIETA' A RESPONSABILITA' LIMITATA

 

 

Date

Splitting-up:

28/12/2006



Protests

 

Protests checking on the subject firm has given the following results:

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

03/10/2012

18.524

35.867.465

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

03/10/2012

18.771

36.345.724

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

04/10/2012

176.194

341.159.156

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

11/10/2012

61.631

119.334.256

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

05/11/2012

13.716

26.557.879

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

05/11/2012

171.282

331.648.198

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

05/11/2012

37.296

72.215.126

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

07/11/2012

18.894

36.583.885

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

09/11/2012

35.015

67.798.494

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

16/11/2012

6.385

12.363.084

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

30/11/2012

118.489

229.426.696

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/12/2012

13.315

25.781.435

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/12/2012

10.912

21.128.578

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/12/2012

13.068

25.303.176

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

13/02/2013

8.377

16.220.134

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

02/08/2013

61.036

118.182.176

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

02/08/2013

27.387

53.028.626

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

02/08/2013

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

02/08/2013

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

03/07/2013

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

03/07/2013

27.390

53.034.435

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

03/07/2013

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/06/2013

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/06/2013

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

04/06/2013

27.390

53.034.435

 

 

 

 

PHARD S.P.A. (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

12/06/2013

4.348

8.418.902

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/02/2014

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/02/2014

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/12/2013

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/12/2013

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

05/11/2013

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

05/11/2013

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

02/10/2013

62.376

120.776.778

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/09/2013

5.354

10.366.790

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

04/09/2013

3.681

7.127.410

 

 

 

 

PHARD S.P.A (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested draft

04/09/2013

61.036

118.182.176

 

 

 

 

PHARD SPA (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

03/03/2014

5.354

10.366.790

 

 

 

 

PHARD SPA (05077500634)

VIA DEI FIORENTINI 21

- NAPOLI

 

Protest Type

Elevation Date

Amount (in Euros)

Amount (in Liras)

Reason

Elevation Officer

Protested bill

03/03/2014

3.681

7.127.410

 

 

 

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

 

Prejudicial Events Search Result:

 

 

Prejudicial Events found with cancellations*

 

Legal Mortgage on 24/05/2006. for an amount of 898 Euro. Event writing-off

  SEM SPA

 

Search performed on a specialized data base.

*Concerns also partially erased events.

 

 

Legal Procedures

 

In the name of the firm we report the following events:

 

 

Composition with creditors since 30/01/2014

 

  

Communications linked to procedures

 

 

-

 

 

- Proposal for composition agreement

 

 

- Debt restructuring agreement

 

 

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

MONTE DEI PASCHI DI SIENA SPA

CENTRO INGROSSO SVILUPPO CAMPANIA

 

80035

Nola

1030

40021

UNICREDIT BANCA SPA

 

 

 

 

2008

0



Financial and Economical Analysis

 

Company's starting of activities dates back to 1990.

The analysis is based on the latest 3 balance sheets.

Last financial years have been marked by net losses. The losses incurred were caused by the decrease in the turnover that marked the last financial years.

The operating result is negative.

The amount of the operating loss for 2012 is equal to Eur. -28.851.829.

With regard to GOM, subject closed 2012 financial account with a negative result (Eur. -22.630.515).

Unbalanced financial position : net worth does not cover debts; the gearing ratio is in fact high which tends upward.

The amount of equity capital is lower than the economic results; the shareholders funds are equal to Eur. -84.307.378.

Total debts recorded amounted to Eur. 117.290.751 (Eur. 7.875.142 of which were m/l term debts) on the same levels as the year before.

Payments average period is high and above the average.

This situation arises from a scanty liquidity too.

Due from customers average term is high and equal to 264,02 days. also in relation to the average of the sector.

(Eur. -78.755.689) is the negative value of the cash flow.

Subordinate employment cost is of Eur. 3.631.568, i.e. 6,42% on total production costs. , whereas 13,56% is the incidence on sales revenues.

High incidence of financial charges on turnover.

The presence of detrimental items, apart from the financial-economic analysis, makes the company not suitable for business transactions on credit basis.

 

Financial Data

 

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

26.777.680

Profit (Loss) for the period

-84.553.879

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

44.881.264

Profit (Loss) for the period

-5.813.083

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

62.262.294

Profit (Loss) for the period

5.787.994

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

68.528.414

Profit (Loss) for the period

-9.196.962

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

84.122.173

Profit (Loss) for the period

-13.327.804



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

 

 

 

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

200.000

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

 

333.521

774.208

. Total Intangible Fixed Assets

 

333.521

974.208

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

1.250.000

3.384.981

3.490.581

. . Plant and machinery

 

408.577

531.377

. . Industrial and commercial equipment

48.562

1.009.195

1.268.230

. . Other assets

 

197.774

231.337

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

1.298.562

5.000.527

5.521.525

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

4.623.584

29.322.248

27.817.870

. . . Equity invest. in subsidiary companies

4.362.641

29.061.305

27.507.781

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

260.943

260.943

310.089

. . Financial receivables

 

 

 

. . . . Within 12 months

 

 

 

. . . . 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

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

4.623.584

29.322.248

27.817.870

Total fixed assets

5.922.146

34.656.296

34.313.603

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

1.968.617

1.972.044

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

3.025.385

17.553.985

11.856.659

. . Advance payments

 

 

 

. Total Inventories

3.025.385

19.522.602

13.828.703

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

27.436.953

43.505.557

54.290.164

. . Beyond 12 months

 

15.390.400

9.550.171

. . Trade receivables

19.638.578

26.809.626

29.248.892

. . . . Within 12 months

19.638.578

26.809.626

29.248.892

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

7.473.486

11.463.971

14.696.511

. . . . Within 12 months

7.473.486

11.463.971

14.696.511

. . . . 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

8.900

275.657

788.414

. . . . Within 12 months

8.900

275.657

788.414

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

 

13.563.813

11.856.276

. . . . Within 12 months

 

1.371.974

2.930.121

. . . . Beyond 12 months

 

12.191.839

8.926.155

. . Receivables due from third parties

315.989

6.782.890

7.250.242

. . . . Within 12 months

315.989

3.584.329

6.626.226

. . . . Beyond 12 months

 

3.198.561

624.016

. Total Credits not held as fixed assets

27.436.953

58.895.957

63.840.335

. 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

 

 

50.000

. Total Financial Assets

 

 

50.000

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

429.758

2.148.442

1.095.129

. . Checks

29.888

49.746

64.726

. . Banknotes and coins

6.056

21.744

13.021

. Total Liquid funds

465.702

2.219.932

1.172.876

Total current assets

30.928.040

80.638.491

78.891.914

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

351.143

 

 

. Other adjustment accounts

 

920.097

1.496.858

Total adjustments accounts

351.143

920.097

1.496.858

TOTAL ASSETS

37.201.329

116.214.884

114.702.375

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

11.632.500

11.632.500

11.632.500

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

208.265

208.265

208.265

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

 

-2

2

. Accumulated Profits (Losses)

-11.594.264

-5.781.181

-11.569.175

. Profit( loss) of the year

-84.553.879

-5.813.083

5.787.994

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

-84.307.378

246.499

6.059.586

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

 

1.594

3.955

. . Other funds

 

1.245.524

1.448.798

Total Reserves for Risks and Charges

3.829.589

1.247.118

1.452.753

Employee termination indemnities

376.344

421.769

470.625

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

109.415.609

28.033.611

32.730.104

. . . . Beyond 12 months

7.875.142

86.265.887

73.970.368

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

350.000

350.000

350.000

. . . . Within 12 months

350.000

350.000

350.000

. . . . Beyond 12 months

 

 

 

. . Due to banks

91.413.106

85.298.527

80.036.138

. . . . Within 12 months

91.413.106

9.220.697

7.736.138

. . . . Beyond 12 months

 

76.077.830

72.300.000

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

283.064

265.649

298.858

. . . . Within 12 months

283.064

265.649

298.858

. . . . Beyond 12 months

 

 

 

. . Trade payables

8.574.368

11.441.935

10.697.436

. . . . Within 12 months

8.574.368

11.441.935

10.697.436

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

5.527.303

4.508.544

3.845.619

. . . . Within 12 months

5.527.303

4.508.544

3.845.619

. . . . 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

7.726.412

8.535.941

7.389.662

. . . . Within 12 months

1.086.684

788.567

7.389.662

. . . . Beyond 12 months

6.639.728

7.747.374

 

. . Due to social security and welfare inst.

2.428.545

2.644.016

2.709.620

. . . . Within 12 months

1.193.131

421.874

1.404.890

. . . . Beyond 12 months

1.235.414

1.235.414

1.304.730

. . Other payables

987.953

1.254.886

1.373.139

. . . . Within 12 months

987.953

1.036.345

1.007.501

. . . . Beyond 12 months

 

218.541

365.638

Total accounts payable

117.290.751

114.299.498

106.700.472

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

12.023

 

18.939

Total adjustment accounts

12.023

 

18.939

TOTAL LIABILITIES

37.201.329

116.214.884

114.702.375

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

26.777.680

44.881.264

62.262.294

. Changes in work in progress

 

 

-321.621

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

949.798

867.735

1.226.326

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

949.798

867.735

1.226.326

Total value of production

27.727.478

45.748.999

63.166.999

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

16.916.620

28.792.410

28.666.215

. Services received

11.512.300

14.374.894

18.023.419

. Leases and rentals

1.579.786

1.663.911

2.163.287

. Payroll and related costs

3.631.568

4.950.097

6.440.954

. . Wages and salaries

2.465.442

3.496.334

4.607.136

. . Social security contributions

815.353

1.083.113

1.419.873

. . Employee termination indemnities

287.449

340.948

389.623

. . Pension and similar

 

 

 

. . Other costs

63.324

29.702

24.322

. Amortization and depreciation

5.798.190

1.357.119

4.252.016

. . Amortization of intangible fixed assets

194.745

710.428

1.024.052

. . Amortization of tangible fixed assets

603.445

646.691

745.964

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

5.000.000

 

2.482.000

. Changes in raw materials

16.497.217

-5.693.899

7.607.498

. Provisions to risk reserves

423.124

 

11.532

. Other provisions

 

 

 

. Other operating costs

220.502

309.995

515.475

Total production costs

56.579.307

45.754.527

67.680.396

Diff. between value and cost of product.

-28.851.829

-5.528

-4.513.397

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

2.867

6.316

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

7.121

69.300

348.633

. . 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

2.345

 

 

. . Financ.income other than the above

4.776

 

348.633

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

4.776

 

 

. Interest and other financial expense

-2.155.075

-2.034.263

-1.998.837

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

2.155.075

 

 

Total financial income and expense

-2.147.954

-1.962.096

-1.643.888

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

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

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

-30.190.409

-3.764.654

-3.894.467

. . Of equity investments

-30.190.409

-3.764.654

-3.894.467

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

-30.190.409

-3.764.654

-3.894.467

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

712.767

6.123

21.926.374

. . Gains on disposals

 

6.122

 

. . Other extraordinary income

712.767

1

21.926.374

. Extraordinary expense

-10.342.669

-1.409.837

-9.907.041

. . Losses on disposals

 

-64.665

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-10.342.669

-1.345.172

-9.907.041

Total extraordinary income and expense

-9.629.902

-1.403.714

12.019.333

Results before income taxes

-70.820.094

-7.135.992

1.967.581

. Taxes on current income

13.733.785

-1.322.909

-3.820.413

. . current taxes

 

 

65.545

. . differed taxes(anticip.)

13.562.216

-1.709.898

-4.437.473

. Net income for the period

-84.553.879

-5.813.083

5.787.994

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

-84.553.879

-5.813.083

5.787.994

 

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

0,16

0,30

0,30

0,09

Elasticity Ratio

Units

0,83

0,69

0,69

0,89

Availability of stock

Units

0,08

0,17

0,12

0,26

Total Liquidity Ratio

Units

0,75

0,53

0,57

0,54

Quick Ratio

Units

0,01

0,02

0,01

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

n.c.

104,72

5,21

3,95

Self Financing Ratio

Units

n.c.

0,00

0,05

0,17

Capital protection Ratio

Units

n.c.

-22,61

-1,87

0,62

Liabilities consolidation quotient

Units

0,08

3,09

2,27

0,10

Financing

Units

n.c.

463,69

17,61

4,85

Permanent Indebtedness Ratio

Units

n.c.

0,75

0,70

0,29

M/L term Debts Ratio

Units

0,22

0,75

0,65

0,07

Net Financial Indebtedness Ratio

Units

n.c.

338,45

13,07

1,04

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

n.c.

2,51

2,35

2,37

Current ratio

Units

0,28

2,88

2,41

1,18

Acid Test Ratio-Liquidity Ratio

Units

0,26

2,18

1,99

0,80

Structure's primary quotient

Units

n.c.

0,01

0,18

1,48

Treasury's primary quotient

Units

0,00

0,08

0,04

0,04

Rate of indebtedness ( Leverage )

%

n.c.

47146,19

1892,91

602,26

Current Capital ( net )

Value

-78.487.569

52.604.880

46.161.810

191.984

RETURN

 

 

 

 

 

Return on Sales

%

-294,11

-9,93

16,13

2,03

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

%

n.c.

-2358,26

95,52

6,31

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

%

n.c.

-2894,94

32,47

17,00

Return on Investment ( R.O.I. )

%

-77,56

0,00

-3,93

4,18

Return/ Sales

%

-107,75

-0,01

-7,25

3,46

Extra Management revenues/charges incid.

%

n.c.

n.c.

n.c.

27,96

Cash Flow

Value

-78.755.689

-4.455.964

10.040.010

44.823

Operating Profit

Value

-28.851.829

-5.528

-4.513.397

74.603

Gross Operating Margin

Value

-22.630.515

1.351.591

-249.849

111.383

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

264,02

215,04

169,12

113,70

Debts to suppliers average term

Days

169,17

128,08

107,17

118,14

Average stock waiting period

Days

40,67

156,59

79,96

72,90

Rate of capital employed return ( Turnover )

Units

0,72

0,39

0,54

1,25

Rate of stock return

Units

8,85

2,30

4,50

4,88

Labour cost incidence

%

13,56

11,03

10,34

8,14

Net financial revenues/ charges incidence

%

-8,02

-4,37

-2,64

-1,38

Labour cost on purchasing expenses

%

6,42

10,82

9,52

8,25

Short-term financing charges

%

1,84

1,78

1,87

2,76

Capital on hand

%

138,93

258,94

184,22

79,85

Sales pro employee

Value

236.970

291.436

353.763

397.742

Labour cost pro employee

Value

32.137

32.143

36.596

33.267

 

 

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

:

3.092.859

Population living in the region

:

5.788.986

Number of families in the region

:

1.966.064

 

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

 

- per food products

:

475

- per non food products

:

1.304

- per energy consume

:

79

 

 

Sector Data

 

The values are calculated on a base of 9.175 significant companies.

 

The companies cash their credits on an average of 114 dd.

The average duration of suppliers debts is about 118 dd.

The sector's profitability is on an average of 2,03%.

The labour cost affects the turnover in the measure of 8,14%.

Goods are held in stock in a range of 73 dd.

The difference between the sales volume and the resources used to realize it is about 1,25.

The employees costs represent the 8,25% of the production costs.

 

 

Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered remarkably risky.

In the region 80.616 protested subjects are found; in the province they count to 41.815.

The insolvency index for the region is 1,40, , while for the province it is 1,36.

Total Bankrupt companies in the province : 18.217.

Total Bankrupt companies in the region : 28.514.

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.60.05

UK Pound

1

Rs.101.65

Euro

1

Rs.83.07

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIS

 

               

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.