MIRA INFORM REPORT

 

 

Report Date :

26.05.2014

 

IDENTIFICATION DETAILS

 

Name :

KIMBO S.P.A.

 

 

Registered Office :

Galleria Vanvitelli, 2 80100 – Napoli (NA) – IT -

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

17.12.1981

 

 

Legal Form :

Joint stock company

 

 

Line of Business :

Processing of coffee

 

 

No. of Employees

150 - 175

 

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 – 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

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately  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

 

Kimbo S.p.a.

 

Galleria

Vanvitelli,

2

 

80100

- Napoli

(NA)

-IT-

 

 

Summary

 

Fiscal Code

:

00275560639

Legal Form

:

Joint stock company

start of Activities

:

17/12/1981

Equity

:

Over 2.582.254

Turnover Range

:

over 129.114.224

Number of Employees

:

from 150 to 175

 

Activity

 

Processing of coffee

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 00275560639

 

Municipal Licence : 3874 of since 09/11/2005

 

Municipal Licence : 3875 of since 09/11/2005

 

Foreign Trade Reg. no. : NA010374 since 17/06/1992

 

Chamber of Commerce no. : 1998928 of Milano

 

Chamber of Commerce no. : 225932 of Napoli since 28/05/1963

 

Firms' Register : NA049-1963-283 of Napoli since 19/02/1996

 

V.A.T. Code : 01238591216

 

Foundation date

: 14/03/1963

Establishment date

: 14/03/1963

Start of Activities

: 17/12/1981

Legal duration

: 31/12/2050

Nominal Capital

: 5.424.000

 

Subscribed Capital

: 5.424.000

 

Paid up Capital

: 5.424.000

 

 

Members

 

 

Mannato

Fabrizio

 

 

 

Born in Pozzuoli

(NA)

on 09/09/1957

- Fiscal Code : MNNFRZ57P09G964T

 

 

 

Residence:

 

Vanvitelli

, 2

- 80129

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

04/07/2013

 

 

Director

04/07/2013

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Rubino

Paola

 

 

 

Born in Napoli

(NA)

on 21/08/1964

- Fiscal Code : RBNPLA64M61F839J

 

 

 

Residence:

 

Vincenzo Padula

, 2

- 80100

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

29/06/2009

 

 

Director

04/07/2013

 

 

Managing Director

04/07/2013

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Rubino

Alessandra

 

 

 

Born in Napoli

(NA)

on 04/02/1966

- Fiscal Code : RBNLSN66B44F839R

 

 

 

Residence:

 

Cimarosa

, 154/B

- 80100

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

29/06/2009

 

 

Director

04/07/2013

 

 

Managing Director

04/07/2013

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Rubino

Mario

 

 

 

Born in Napoli

(NA)

on 17/12/1963

- Fiscal Code : RBNMRA63T17F839R

 

 

 

Residence:

 

Cimarosa

, 37

- 80100

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

04/07/2013

 

 

Partner

 

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Della Santina

Stefano

 

 

 

Born in Carrara

(MS)

on 16/01/1960

- Fiscal Code : DLLSFN60A16B832W

 

 

 

Residence:

 

Vanvitelli

, 2

- 80129

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

04/07/2013

 

 

 

 

Iasi

Massimo

 

 

 

Born in Roma

(RM)

on 30/10/1959

- Fiscal Code : SIAMSM59R30H501H

 

 

 

Residence:

 

Ernesto Pontieri

, 15

- 83100

Avellino

(AV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

29/10/2013

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Baldoni

Johnny Frank

 

 

 

Born in Cairns

( )

on 03/10/1957

- Fiscal Code : BLDJNN57R03Z700I

 

 

 

Residence:

 

Fulgione

, 1

- 84025

Eboli

(SA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

27/03/2013

 

 

 

 

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.

 

 

Mannato

Fabrizio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

So.farma.morra S.p.a.

Segrate (MI) - IT -

00448310615

Temporary Auditor

Withdrawn

Registered

Sipagi S.r.l.

Napoli (NA) - IT -

01151070636

Temporary Auditor

Withdrawn

Registered

Imparato S.p.a.

Napoli (NA) - IT -

00297890634

Chairman of the Board of Aud.

Withdrawn

Registered

Giorgio Borrelli Figli S.p.a.

Portici (NA) - IT -

00278020631

Chairman of the Board of Aud.

Withdrawn

Registered

Inter-kom S.p.a.

Napoli (NA) - IT -

01347530634

Managing Director

Withdrawn

Registered

Inter-kom S.p.a.

Napoli (NA) - IT -

01347530634

Director

Withdrawn

Registered

Capri S.r.l.

Napoli (NA) - IT -

05647000636

Permanent Auditor

Withdrawn

Registered

Messaggi S.r.l. In Liquidazione

Napoli (NA) - IT -

04997650637

Temporary Auditor

Withdrawn

In liquidation

Novatel S.r.l.

Napoli (NA) - IT -

05465990637

Permanent Auditor

Withdrawn

Registered

Fratelli Scaramuzza S.p.a.

Napoli (NA) - IT -

00273780635

Temporary Auditor

Withdrawn

Registered

Meltem Srl

Napoli (NA) - IT -

05735080631

Chairman of the Board of Aud.

Withdrawn

In liquidation

Ipm Datacom S.r.l. In Liquidazione

Napoli (NA) - IT -

05027650638

Temporary Auditor

Withdrawn

Registered

Ipm Datacom S.r.l. In Liquidazione

Napoli (NA) - IT -

05027650638

Liquidator

Active

Registered

Mariorita International Shop S.r.l.

Napoli (NA) - IT -

03392960633

Temporary Auditor

Withdrawn

Merged

Naosys Srl

Napoli (NA) - IT -

05209750636

Chairman of the Board of Aud.

Withdrawn

Registered

Gruppo Europeo Ingegneria Srl (in Siglagrein Srl)

Napoli (NA) - IT -

05892400630

Chairman of the Board of Aud.

Withdrawn

Compulsory winding-up

Agricola Volturno S.R.L.

Napoli (NA) - IT -

06046250632

Chairman of the Board of Aud.

Withdrawn

Registered

Mirabella Gestioni Industriali S.p.a. InLiquidazione

Napoli (NA) - IT -

01798951008

Liquidator

Active

Registered

Scaramuzza S.p.a.

Napoli (NA) - IT -

04672910637

Temporary Auditor

Withdrawn

Registered

FRIGOSEC S.R.L.

Napoli (NA) - IT -

06009870632

Chairman of the Board of Aud.

Withdrawn

Registered

Ipm Group S.p.a.

Napoli (NA) - IT -

06719760636

Permanent Auditor

Withdrawn

Merged

Pasi S.p.a.

Napoli (NA) - IT -

06975530632

Temporary Auditor

Withdrawn

Registered

Banca Stabiese S.p.a.

Castellammare di Stabia (NA) - IT -

00275490639

Temporary Auditor

Withdrawn

Registered

Arpa - Agenzia Ricerca E Produzione Avanzata In Scioglimento

Napoli (NA) - IT -

06664130637

Chairman of the Board of Aud.

Active

Registered

DCR S.P.A.

Napoli (NA) - IT -

00353710940

Liquidator

Withdrawn

Ceased

Ad.el S.r.l.

Martellago (VE) - IT -

02316320270

Temporary Auditor

Withdrawn

Registered

Vulcanair S.p.a.

Napoli (NA) - IT -

07071080639

Temporary Auditor

Active

Registered

Fidena Spa

Milano (MI) - IT -

07689450588

Chairman of the Board of Aud.

Active

Registered

Fidena Spa

Milano (MI) - IT -

07689450588

Permanent Auditor

Withdrawn

Registered

Ipm Group S.p.a. In Liquidazione

Napoli (NA) - IT -

04899100632

Permanent Auditor

Active

Registered

Ipm Group S.p.a. In Liquidazione

Napoli (NA) - IT -

04899100632

Temporary Auditor

Withdrawn

Registered

Finko S.r.l.

Milano (MI) - IT -

09781330155

Sole Director

Withdrawn

Registered

Finko S.r.l.

Milano (MI) - IT -

09781330155

Temporary Auditor

Withdrawn

Registered

Gesmin S.p.a. - In Liquidazione

Napoli (NA) - IT -

08393260156

Permanent Auditor

Active

Registered

Toscana Immobiliare S.r.l.

Napoli (NA) - IT -

07670600639

Sole Director

Active

Registered

Co.Fi.Mo. Spa

Napoli (NA) - IT -

05771470639

Temporary Auditor

Withdrawn

Registered

Farinella Italia S.p.a.

Napoli (NA) - IT -

04491021210

Chairman of the Board of Aud.

Withdrawn

Registered

Farinella Italia S.p.a.

Napoli (NA) - IT -

04491021210

Permanent Auditor

Withdrawn

Registered

Kefi S.p.a.

Napoli (NA) - IT -

05045390969

Temporary Auditor

Withdrawn

Registered

Iper Casoria S.r.l.

Napoli (NA) - IT -

06939180961

Director

Withdrawn

Registered

Tradizione Italiana - Italian Food Tradition Societa' Consortile A R.l.

Nola (NA) - IT -

07272621215

Director

Active

Registered

 

Rubino

Alessandra

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Alma Group Srl

Milano (MI) - IT -

09851570151

Sole Director

Active

Registered

Finko S.r.l.

Milano (MI) - IT -

09781330155

Managing Director

Active

Registered

Finko S.r.l.

Milano (MI) - IT -

09781330155

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

Presta Anna

 

PRSNNA32P48F839S

8.000 .Eur

0,14

Rubino Paola

Napoli - IT -

RBNPLA64M61F839J

904.000 .Eur

16,66

Rubino Carmen

 

RBNCMN48M49F839O

904.000 .Eur

16,66

Rubino Alba

 

RBNLBA49P66F839A

904.000 .Eur

16,66

Rubino Alessandra

Napoli - IT -

RBNLSN66B44F839R

1.352.000 .Eur

24,92

Rubino Mario

Napoli - IT -

RBNMRA63T17F839R

1.352.000 .Eur

24,92

 

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

Consorzio Energia Napoli 2000

Napoli - IT -

07597420632

 

 

 

 

Active

Consorzio Ecoped

Milano - IT -

05157260968

 

 

 

 

Active

Tradizione Italiana - Italian Food Tradi tion Societa' Consortile A R.l.

Nola - IT -

07272621215

5.000 .Eur

7,14

 

 

Active

La Tazza D'oro S.r.l.

 

03431160922

100.000 .Eur

100,00

 

 

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

 

Vanvitelli

, 2

- 80100

- Napoli

(NA)

- IT -

 

 

 

 

PHONE

: 0817011200

 

 

 

 

FAX

: 0817023053

 

 

 

 

FAX

: 0817023054

 

-

Branch

(Factory)

 

 

 

 

 

 

Appia Km 22

- 80017

- Melito di Napoli

(NA)

- IT -

 

 

 

 

Trading Style: KIMBO

 

 

 

 

PHONE

: 0817011200

 

 

 

 

Email

: CAFEDOBRASIL@PEC.CAFEDOBRASIL.INFO

 

-

Branch

(Warehouse)

since 03/06/2008

 

 

 

 

 

Interporto Di Nola Lotto H

- 80035

- Nola

(NA)

- IT -

 

-

Branch

(Warehouse)

since 25/06/2012

 

 

 

 

 

 

Circumvallazione Esterna

, 85

- 80017

- Melito di Napoli

(NA)

- IT -

 

-

Branch

(Administrative office)

since 01/11/2012

 

 

 

 

 

 

Sant'ambrogio

, 1

- 20100

- Milano

(MI)

- IT -

 

 

 

 

Employees

: 151

 

Fittings and Equipment for a value of 11.800.000

Eur

 

Stocks for a value of 17.970.000

Eur

 

Furniture and fittings for a value of 410.000

Eur

 

Vehicles for a value of 72.000

Eur

 

 

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- trading companies

 

- its own sales net-work

 

- its own agents

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- importers

 

- its own agents

 

Import comes generally from the following nations:

-

 

Export is mainly towards:

- France

 

- Austria

 

- Belgium

 

- Cyprus

 

The subject firm uses the following own selling brands:

- Kimbo

 

- Kose'

 

 

Traded Brands / Suppliers

 

- KIMBO

 

 

Historical Information and/or Firm's Status

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Cafe do Brasil SpA

Kimbo SpA

25/07/2013

 

EX-MEMBERS / EX-POSITIONS:

 

 

Delehaye

Vittorio

 

 

 

Born in Napoli

(NA)

on 23/02/1922

- Fiscal Code : DLHVTR22B23F839V

 

 

 

Residence:

 

Ia Pessina

, 56

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

De Ruberto

Vincenzo

 

 

 

Born in Napoli

(NA)

on 03/09/1964

- Fiscal Code : DRBVCN64P03F839K

 

 

 

Residence:

 

Calabritto

, 20

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Della Santina

Stefano

 

 

 

Born in Carrara

(MS)

on 16/01/1960

- Fiscal Code : DLLSFN60A16B832W

 

 

 

Residence:

 

Vanvitelli

, 2

- 80129

Napoli

(NA)

- IT -

 

Ex-Postions

Director

 

 

Di Sabato

Sergio

 

 

 

Born in Napoli

(NA)

on 10/07/1961

- Fiscal Code : DSBSRG61L10F839X

 

Ex-Postions

Director

 

 

Mannato

Fabrizio

 

 

 

Born in Napoli

(NA)

on 09/09/1957

- Fiscal Code : MNNFRZ57P09G964T

 

 

 

Residence:

 

Caracciolo

, 15

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Director

 

 

Mazzuoccolo

Raffaele

 

 

 

Born in Casalnuovo di Napoli

(NA)

on 03/01/1948

- Fiscal Code : MZZRFL48A03B905L

 

 

 

Residence:

 

NOVARA

, 59

- 10100

Torino

(TO)

- IT -

 

Ex-Postions

Board Chairman

Director

 

 

Rubino

Elio

 

 

 

Born in Napoli

(NA)

on 02/04/1927

- Fiscal Code : RBNLEI27D02F839Z

 

 

 

Residence:

 

Cimarosa

, 154

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Attorney with special power

Procurator

 

 

Rubino

Francesco

 

 

 

Born in Napoli

(NA)

on 26/11/1921

- Fiscal Code : RBNFNC21S26F839J

 

 

 

Residence:

 

Luca Giordano

, 15

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Procurator

 

 

Fasano

Massimo

 

 

 

Born in Napoli

(NA)

on 15/02/1959

- Fiscal Code : FSNMSM59B15F839P

 

 

 

Residence:

 

Calabritto

, 20

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Temporary Auditor

Attorney with special power

 

 

Rubino

Michele

 

 

 

Born in Napoli

(NA)

on 04/03/1949

- Fiscal Code : RBNMHL49C04F839T

 

 

 

Residence:

 

Luigia Sanfelice

, 16

- 80127

Napoli

(NA)

- IT -

 

Ex-Postions

Board Chairman

Director

Sole Director

 

 

Iovine Alfredo

 

 

 

 

Born in Napoli

(NA)

on 31/05/1926

- Fiscal Code : VNILRD26E31F839F

 

Ex-Postions

Sole Director

 

 

Rubino

Gerardo

 

 

 

Born in Napoli

(NA)

on 18/02/1924

- Fiscal Code : RBNGRD24B18F839T

 

 

 

Fiscal residence:

 

Luca Giordano

, 15

- 80100

Napoli

(NA)

- IT -

 

Ex-Postions

Sole Director

 

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:

 

 

 

Prejudicial Events found with cancellations*

 

Legal Mortgage on 20/07/2007. for an amount of 746.368 Euro. Event writing-off

  EQUITALIA POLIS S.P.A.


Search performed on a specialized data base.

*Concerns also partially erased events.

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

DEUTSCHE BANK S.P.A

 

 

 

 

3104

0

BANCA CREDITO SARDO SPA

DC SO BACK OFFICE DI RETE UFFICIO DI

VIA MARCONI 15

80100

Napoli (NA)

3059

3589

INTESA SANPAOLO SPA

 

 

 

 

3069

0

 

Financial and Economical Analysis

 

Subject is active since 1981

The analysis is based on the latest 3 balance sheets.

Unstable economic results mark the company's financial state of affairs. anyway in 2012 a positive result was achieved (r.o.e. 6,81%).

The operating result in 2012 was positive (6,72%) falling within the field's average.

The operating result is positive and amounts to Eur. 9.542.766 with an increase of more then 100% if the compared to the previous financial year.

The G.O.M. amounted to Eur. 15.222.384 showing a more then 100% growth.

The company has an excellent net worth if compared to its debts, with a low indebtedness (0,54) increasing compared to last year (0,33)

With regard to equity capital, an amount of Eur. 77.361.882 is registered. with a -43,56% fall.

During the last financial year total debts volume reached Eur. 61.141.893 (Eur. 11.909.482 were m/l term ones) , a more or less stable value.

Financial debts exposure is under control while the recourse to commercial credit is rather frequent but lined up with the field's average.

The available funds are good.

As to due from customers, the average terms are 85,77 days. , shorter than the sector's average.

Eur. 10.610.420 is the value of cash flow during the year 2012

In the last financial year labour cost was of Eur. 9.310.633, with a 6,13% incidence on total costs of production. , whereas the incidence of such costs on sales revenues is equal to 5,88%.

Limited financial charges in relation to sales volume.


Financial Data

 

 

 

Consolidated result

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

161.245.000

Profit (Loss) for the period

5.438.000

Shareholders' equity

77.362.000

 

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

4.580

24.660

44.740

. . Research,develop. and advert.expens.

1.714.803

 

 

. . Industrial patent rights

31.394

131.398

233.349

. . Concessions,licenses,trademarks,etc.

414.079

507.077

570.830

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

100.000

10.000

. . Other intangible fixed assets

 

 

 

. Total Intangible Fixed Assets

2.164.856

763.135

858.919

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

25.538.230

9.724.355

9.629.444

. . Plant and machinery

11.801.446

11.264.408

11.665.710

. . Industrial and commercial equipment

 

 

 

. . Other assets

4.669.464

3.893.912

3.500.778

. . Assets under construction and advances

6.909.042

19.843.526

1.515.975

. Total Tangible fixed assets

48.918.182

44.726.201

26.311.907

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

4.616.898

610.103

3.597

. . . Equity invest. in subsidiary companies

4.604.551

606.506

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

12.347

3.597

3.597

. . Financial receivables

380.676

140.005

136.283

. . . . Within 12 months

380.676

 

136.283

. . . . Beyond 12 months

 

140.005

 

. . . Receivab due from subsidiaries

350.000

 

 

. . . . Within 12 months

350.000

 

 

. . . . 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

30.676

140.005

136.283

. . . . Within 12 months

30.676

 

136.283

. . . . Beyond 12 months

 

140.005

 

. . Other securities

 

 

 

. . Own shares

 

62.996.189

4.296.818

. . . Total nominal value

 

 

 

. Total financial fixed assets

4.997.574

63.746.297

4.436.698

Total fixed assets

56.080.612

109.235.633

31.607.524

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

7.043.546

5.740.986

7.258.992

. . Work in progress and semimanufactured

139.743

168.639

393.776

. . Work in progress on order

 

 

 

. . Finished goods

10.786.137

9.080.595

6.427.236

. . Advance payments

 

 

 

. Total Inventories

17.969.426

14.990.220

14.080.004

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

54.885.367

56.287.771

47.825.494

. . Beyond 12 months

4.581.241

4.745.003

6.794.030

. . Trade receivables

37.717.430

42.866.812

42.193.045

. . . . Within 12 months

37.717.430

42.769.144

41.936.036

. . . . Beyond 12 months

 

97.668

257.009

. . Receivables due from subsid. comp.

647.669

108.128

1.887.897

. . . . Within 12 months

647.669

 

 

. . . . Beyond 12 months

 

108.128

1.887.897

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

1.317.948

4.790.820

5.842.005

. . . . Within 12 months

1.317.948

4.790.820

5.632.425

. . . . Beyond 12 months

 

 

209.580

. . Receivables for anticipated taxes

1.228.707

1.291.841

45.671

. . . . Within 12 months

1.038.997

1.151.419

 

. . . . Beyond 12 months

189.710

140.422

45.671

. . Receivables due from third parties

18.554.854

11.975.173

4.650.906

. . . . Within 12 months

14.163.323

7.576.388

257.033

. . . . Beyond 12 months

4.391.531

4.398.785

4.393.873

. Total Credits not held as fixed assets

59.466.608

61.032.774

54.619.524

. 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

 

 

49.741.500

. Total Financial Assets

 

 

49.741.500

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

7.389.541

18.873.246

25.876.192

. . Checks

53.555

55.842

214.698

. . Banknotes and coins

5.025

1.280

2.560

. Total Liquid funds

7.448.121

18.930.368

26.093.450

Total current assets

84.884.155

94.953.362

144.534.478

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

1.060.453

922.467

978.809

Total adjustments accounts

1.060.453

922.467

978.809

TOTAL ASSETS

142.025.220

205.111.462

177.120.811

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

5.424.000

1.356.600

1.356.600

. Additional paid-in capital

 

 

 

. Revaluation reserves

22.088.690

22.088.690

22.088.690

. Legal reserve

500.000

500.000

500.000

. Reserve for Own shares

 

 

 

. Statute reserves

 

62.996.189

4.296.818

. Other reserves

44.081.008

47.680.349

108.191.149

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

5.268.184

2.453.320

-1.811.428

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

77.361.882

137.075.148

134.621.829

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

827.119

897.637

879.663

. . Taxation fund, also differed

627.109

597.301

570.067

. . Other funds

611.388

446.599

1.644.639

Total Reserves for Risks and Charges

2.065.616

1.941.537

3.094.369

Employee termination indemnities

1.339.082

1.345.950

1.405.503

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

49.232.411

64.552.825

37.784.328

. . . . Beyond 12 months

11.909.482

 

 

. . 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

18.187.276

9.000.000

4.043.379

. . . . Within 12 months

18.187.276

9.000.000

4.043.379

. . . . Beyond 12 months

 

 

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

40.306.973

47.028.939

32.402.544

. . . . Within 12 months

28.397.491

47.028.939

32.402.544

. . . . Beyond 12 months

11.909.482

 

 

. . 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

669.950

7.255.521

194.077

. . . . Within 12 months

669.950

7.255.521

194.077

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

447.029

375.994

363.678

. . . . Within 12 months

447.029

375.994

363.678

. . . . Beyond 12 months

 

 

 

. . Other payables

1.530.665

892.371

780.650

. . . . Within 12 months

1.530.665

892.371

780.650

. . . . Beyond 12 months

 

 

 

Total accounts payable

61.141.893

64.552.825

37.784.328

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

116.747

196.002

214.782

Total adjustment accounts

116.747

196.002

214.782

TOTAL LIABILITIES

142.025.220

205.111.462

177.120.811

 

 

 

 

 

 

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

158.311.879

150.568.952

139.775.332

. Changes in work in progress

1.519.915

2.732.418

21.095

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

1.490.646

1.952.144

1.560.878

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

1.490.646

1.952.144

1.560.878

Total value of production

161.322.440

155.253.514

141.357.305

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

76.692.372

73.717.565

61.186.188

. Services received

60.920.180

65.129.941

68.063.523

. Leases and rentals

278.478

793.397

660.903

. Payroll and related costs

9.310.633

7.193.869

6.625.236

. . Wages and salaries

7.142.620

5.437.490

5.124.601

. . Social security contributions

1.813.918

1.387.727

1.229.868

. . Employee termination indemnities

354.095

368.652

270.767

. . Pension and similar

 

 

 

. . Other costs

 

 

 

. Amortization and depreciation

5.342.236

3.695.478

3.799.408

. . Amortization of intangible fixed assets

982.346

215.028

226.085

. . Amortization of tangible fixed assets

4.158.206

3.480.450

3.345.282

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

201.684

 

228.041

. Changes in raw materials

-1.459.291

1.822.202

-1.186.694

. Provisions to risk reserves

337.382

50.000

545.737

. Other provisions

 

 

 

. Other operating costs

357.684

264.783

907.276

Total production costs

151.779.674

152.667.235

140.601.577

Diff. between value and cost of product.

9.542.766

2.586.279

755.728

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

451.728

794.060

425.803

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

187.771

. . 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

-485.379

-369.864

-868.984

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-33.651

424.196

-443.181

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

231.144

 

 

. . Of equity investments

231.144

 

 

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

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

-565.111

 

-398.042

. . Of equity investments

-565.111

 

-398.042

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

-333.967

 

-398.042

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

1.356.116

341.321

97.672

. . Gains on disposals

 

 

 

. . Other extraordinary income

1.356.116

341.321

97.672

. Extraordinary expense

-1.120.695

-747.019

-959.261

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-1.120.695

-747.019

-959.261

Total extraordinary income and expense

235.421

-405.698

-861.589

Results before income taxes

9.410.569

2.604.777

-947.084

. Taxes on current income

4.142.385

151.457

864.344

. . current taxes

4.101.824

1.370.393

864.940

. . differed taxes(anticip.)

40.561

-1.218.936

-596

. Net income for the period

5.268.184

2.453.320

-1.811.428

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

5.268.184

2.453.320

-1.811.428

 

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

0,39

0,53

0,18

0,36

Elasticity Ratio

Units

0,60

0,46

0,82

0,58

Availability of stock

Units

0,13

0,07

0,08

0,12

Total Liquidity Ratio

Units

0,47

0,39

0,74

0,42

Quick Ratio

Units

0,05

0,09

0,43

0,01

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,54

0,33

0,09

2,08

Self Financing Ratio

Units

0,54

0,67

0,76

0,22

Capital protection Ratio

Units

0,86

0,97

1,00

0,66

Liabilities consolidation quotient

Units

0,27

0,02

0,04

0,27

Financing

Units

0,79

0,47

0,28

3,08

Permanent Indebtedness Ratio

Units

0,64

0,67

0,77

0,46

M/L term Debts Ratio

Units

0,09

0,01

0,01

0,12

Net Financial Indebtedness Ratio

Units

0,14

0,00

0,00

0,69

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,62

1,27

4,30

1,16

Current ratio

Units

1,72

1,47

3,83

1,14

Acid Test Ratio-Liquidity Ratio

Units

1,36

1,24

3,45

0,86

Structure's primary quotient

Units

1,38

1,25

4,26

0,68

Treasury's primary quotient

Units

0,15

0,29

2,01

0,02

Rate of indebtedness ( Leverage )

%

183,59

149,63

131,57

438,55

Current Capital ( net )

Value

35.651.744

30.400.537

106.750.150

177.800

RETURN

 

 

 

 

 

Return on Sales

%

6,70

4,08

1,42

4,57

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

%

6,81

1,79

-1,35

4,28

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

%

12,16

1,90

-0,70

11,42

Return on Investment ( R.O.I. )

%

6,72

1,26

0,43

3,74

Return/ Sales

%

6,03

1,72

0,54

3,72

Extra Management revenues/charges incid.

%

55,21

94,86

-239,69

25,24

Cash Flow

Value

10.610.420

6.148.798

1.987.980

140.498

Operating Profit

Value

9.542.766

2.586.279

755.728

117.422

Gross Operating Margin

Value

15.222.384

6.331.757

5.100.873

261.449

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

85,77

102,49

108,67

110,74

Debts to suppliers average term

Days

105,23

121,24

89,79

117,18

Average stock waiting period

Days

40,86

35,84

36,26

43,75

Rate of capital employed return ( Turnover )

Units

1,11

0,73

0,79

0,99

Rate of stock return

Units

8,81

10,04

9,93

8,23

Labour cost incidence

%

5,88

4,78

4,74

15,09

Net financial revenues/ charges incidence

%

-0,02

0,28

-0,32

-1,50

Labour cost on purchasing expenses

%

6,13

4,71

4,71

14,79

Short-term financing charges

%

0,79

0,57

2,30

2,72

Capital on hand

%

89,71

136,22

126,72

100,97

Sales pro employee

Value

545.903

1.356.477

1.404.777

231.895

Labour cost pro employee

Value

32.105

64.809

66.585

32.825

 

 

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 335 significant companies.

 

The companies cash their credits on an average of 111 dd.

The average duration of suppliers debts is about 117 dd.

The sector's profitability is on an average of 4,57%.

The labour cost affects the turnover in the measure of 15,09%.

Goods are held in stock in a range of 44 dd.

The difference between the sales volume and the resources used to realize it is about 0,99.

The employees costs represent the 14,79% of the production costs.

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

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.58.48

UK Pound

1

Rs.98.67

Euro

1

Rs.79.80

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

PDT

 

               

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.