MIRA INFORM REPORT

 

 

Report Date :

06.11.2014

 

IDENTIFICATION DETAILS

 

Name :

OFAR S.P.A.

 

 

Registered Office :

Via Dell'industria, 5

25010 - Visano (BS)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.04.1985

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of Metal Products (Except Machinery and Equipment)

Forging, drawing, stamping and roll-forming of metal; powder metallurgy

 

 

No. of Employees :

From 150 to 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 :

Slow but correct

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ITALY - ECONOMIC OVERVIEW

 

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is 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

 

OFAR S.P.A.

 

Via Dell'industria, 5

 

25010 - Visano (BS) -IT-

 

 

Summary

 

Fiscal Code

:

02027800172

Legal Form

:

Joint stock company

start of Activities

:

05/07/1985

Equity

:

Over 2.582.254

Turnover Range

:

75.000.000/100.000.000

Number of Employees

:

from 150 to 175

 

 

Activity

 

MANUFACTURE OF METAL PRODUCTS ( EXCEPT MACHINERY AND EQUIPMENT)

Forging, drawing, stamping and roll-forming of metal; powder metallurgy

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 02027800172

 

Foreign Trade Reg. no. : BS035516 since 25/02/1992

 

Chamber of Commerce no. : 286831 of Brescia since 05/06/1985

 

Chamber of Commerce no. : 241532 of Mantova

 

Firms' Register : BS029-30238 of Brescia since 19/02/1996

 

V.A.T. Code : 00673940987

 

Foundation date

: 18/04/1985

Establishment date

: 18/04/1985

Start of Activities

: 05/07/1985

Legal duration

: 31/12/2050

Nominal Capital

: 10.000.000

Subscribed Capital

: 10.000.000

Paid up Capital

: 10.000.000

 


Members

 

Vienna

Antonio Giuseppe

 

Born in Borgounito

(BG)

on 19/08/1941

- Fiscal Code : VNNNNG41M19F205Z

 

Residence:

Trieste

, 16

- 20100

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/04/2014

Board Chairman

29/04/2014

Managing Director

29/04/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Ferrari

Alessandro

 

Born in Casalmoro

(MN)

on 30/09/1943

- Fiscal Code : FRRLSN43P30B901L

 

Residence:

San Fiorano

, 8

- 25123

Brescia

(BS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

09/03/2012

Procurator

11/07/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Menni

Alessio

 

Born in Brescia

(BS)

on 06/04/1978

- Fiscal Code : MNNLSS78D06B157G

 

Residence:

Giovanni Bertacchi

, 3

- 25123

Brescia

(BS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/04/2014

 

Pitesa

Damir

 

Born in Zagabria

( )

on 30/04/1965

- Fiscal Code : PTSDMR65D30Z118S

 

Residence:

Dell'artigianato

, 8

- 20010

Vanzago

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

18/06/2014

 

Predaroli

Giuliana

 

Born in Asola

(MN)

on 08/06/1955

- Fiscal Code : PRDGLN55H48A470V

 

Residence:

Circonvallazione Ovest

, 49

- 46041

Asola

(MN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

18/06/2014

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Rocca

Carlo Emilio

 

Born in Torino

(TO)

on 01/03/1960

- Fiscal Code : RCCCLM60C01L219N

 

Residence:

V. Alfieri

, 18

- 20154

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

18/06/2014

Managing Director

25/06/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Longhi

Antonio Marco Nello

 

Born in Milano

(MI)

on 13/05/1964

- Fiscal Code : LNGNNM64E13F205G

 

Residence:

Faruffini

, 32

- 20149

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/04/2014

Managing Director

29/04/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Udeschini

Giuliano

 

Born in Limbiate

(MB)

on 06/05/1965

- Fiscal Code : DSCGLN65E06E591T

 

Residence:

Paolo Vi Strada Seconda

, 3

- 25010

Remedello

(BS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Responsible technician

30/05/2011

 

Rossi

Federica

 

Born in Desenzano del Garda

(BS)

on 28/06/1980

- Fiscal Code : RSSFRC80H68D284J

 

Residence:

Circonvallazione Ovest

, 49

- 46041

Asola

(MN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/04/2014

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

G.i.v.a. S.p.a.

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Rossi Francesca

 

 

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.

 

Vienna

Antonio Giuseppe

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Italfond S.p.a.

Bagnolo Mella (BS) - IT -

00295210173

Chairman

Withdrawn

Registered

Italfond S.p.a.

Bagnolo Mella (BS) - IT -

00295210173

Director

Active

Registered

Italfond S.p.a.

Bagnolo Mella (BS) - IT -

00295210173

Board Chairman

Active

Registered

La Forgia Di Bollate S.r.l.

Bollate (MI) - IT -

00695740159

Director

Withdrawn

Ceased

La Forgia Di Bollate S.r.l.

Bollate (MI) - IT -

00695740159

General Partner

Withdrawn

Ceased

La Forgia Di Bollate S.r.l.

Bollate (MI) - IT -

00695740159

Procurator

Withdrawn

Ceased

La Forgia Di Bollate S.r.l.

Bollate (MI) - IT -

00695740159

Managing Director

Withdrawn

Ceased

La Forgia Di Bollate S.r.l.

Bollate (MI) - IT -

00695740159

Board Chairman

Withdrawn

Ceased

O.F.A.R. S.P.A.

Visano (BS) - IT -

01000780179

Managing Director

Withdrawn

Composition with creditors

Forgiatura A. Vienna Di Antonio Vienna EC. S.a.s.

Rho (MI) - IT -

03007190154

General Partner

Active

Registered

Forgiatura A. Vienna Di Antonio Vienna EC. S.a.s.

Rho (MI) - IT -

03007190154

Board Chairman

Withdrawn

Registered

Brescia Acciai S.r.l.

Visano (BS) - IT -

02163310176

Director

Withdrawn

Ceased

Forges S.p.a.

Cividale del Friuli (UD) - IT -

01780800304

Director

Active

Registered

Forges S.p.a.

Cividale del Friuli (UD) - IT -

01780800304

Managing Director

Active

Registered

Forges S.p.a.

Cividale del Friuli (UD) - IT -

01780800304

Board Chairman

Active

Registered

Immobiliare Danubio S.r.l.

Milano (MI) - IT -

04362800155

Sole Director

Active

Registered

G.i.v.a. S.p.a.

Rho (MI) - IT -

02917180172

Managing Director

Withdrawn

Registered

G.i.v.a. S.p.a.

Rho (MI) - IT -

02917180172

Director

Active

Registered

G.i.v.a. S.p.a.

Rho (MI) - IT -

02917180172

Sole Director

Withdrawn

Registered

G.i.v.a. S.p.a.

Rho (MI) - IT -

02917180172

Managing Director

Active

Registered

G.i.v.a. S.p.a.

Rho (MI) - IT -

02917180172

Board Chairman

Active

Registered

V.r.m. S.r.l.

Visano (BS) - IT -

03206850178

Board Chairman

Withdrawn

Registered

Nunki Steel S.p.a.

San Giorgio di Nogaro (UD) - IT -

02891220275

Director

Active

Registered

Nunki Steel S.p.a.

San Giorgio di Nogaro (UD) - IT -

02891220275

Managing Director

Active

Registered

Nunki Steel S.p.a.

San Giorgio di Nogaro (UD) - IT -

02891220275

Board Chairman

Active

Registered

Finav S.r.l.

Milano (MI) - IT -

12279870153

Director

Active

Registered

Finav S.r.l.

Milano (MI) - IT -

12279870153

Sole Director

Withdrawn

Registered

Finav S.r.l.

Milano (MI) - IT -

12279870153

Managing Director

Active

Registered

Finav S.r.l.

Milano (MI) - IT -

12279870153

Board Chairman

Active

Registered

P.i.n. S.r.l.

Brescia (BS) - IT -

12440300155

Sole Director

Withdrawn

Registered

Rmt Valvomeccanica S.r.l.

Solbiate Olona (VA) - IT -

12375180150

Director

Active

Registered

Solim S.r.l.

Brescia (BS) - IT -

02703550984

Sole Director

Active

Registered

Dvg Automation S.p.a.

Cortemaggiore (PC) - IT -

01494460338

Director

Active

Registered

Dvg Automation S.p.a.

Cortemaggiore (PC) - IT -

01494460338

Managing Director

Active

Registered

Dvg Automation S.p.a.

Cortemaggiore (PC) - IT -

01494460338

Board Chairman

Active

Registered

Xlv S.r.l.

Cella Dati (CR) - IT -

02994220982

Sole Director

Withdrawn

Registered

Astaldo Societa' A Responsabilita' Limitata O In Forma Abbreviata Astaldo S.r

Brescia (BS) - IT -

02994230981

Sole Director

Withdrawn

Registered

Pinex S.r.l.

Brescia (BS) - IT -

02995930985

Sole Director

Withdrawn

Registered

Pinex S.r.l.

Brescia (BS) - IT -

02995930985

Sole partner

Withdrawn

Registered

Forgia Di Bollate S.p.a.

Canneto sull'Oglio (MN) - IT -

02233680202

Managing Director

Withdrawn

Registered

Forgia Di Bollate S.p.a.

Canneto sull'Oglio (MN) - IT -

02233680202

Director

Active

Registered

Forgia Di Bollate S.p.a.

Canneto sull'Oglio (MN) - IT -

02233680202

Sole Director

Withdrawn

Registered

Forgia Di Bollate S.p.a.

Canneto sull'Oglio (MN) - IT -

02233680202

Managing Director

Active

Registered

Forgia Di Bollate S.p.a.

Canneto sull'Oglio (MN) - IT -

02233680202

Board Chairman

Active

Registered

Ttv S.r.l.

Cella Dati (CR) - IT -

01549920195

Director

Active

Registered

Ttv S.r.l.

Cella Dati (CR) - IT -

01549920195

Sole Director

Withdrawn

Registered

Ttv S.r.l.

Cella Dati (CR) - IT -

01549920195

Managing Director

Active

Registered

Ttv S.r.l.

Cella Dati (CR) - IT -

01549920195

Board Chairman

Active

Registered

Bresciacciai S.r.l.

Visano (BS) - IT -

03446830980

Director

Active

Registered

Bresciacciai S.r.l.

Visano (BS) - IT -

03446830980

Sole Director

Withdrawn

Registered

Bresciacciai S.r.l.

Visano (BS) - IT -

03446830980

Managing Director

Active

Registered

Bresciacciai S.r.l.

Visano (BS) - IT -

03446830980

Board Chairman

Active

Registered

 

Rocca

Carlo Emilio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Fomas S.p.a.

Milano (MI) - IT -

05993760155

Managing Director

Withdrawn

Registered

Fomas S.p.a.

Milano (MI) - IT -

05993760155

Director

Withdrawn

Registered

Asfo S.p.a.

Milano (MI) - IT -

00771360245

Managing Director

Withdrawn

Registered

Asfo S.p.a.

Milano (MI) - IT -

00771360245

Director

Withdrawn

Registered

Hot Roll Srl

Milano (MI) - IT -

05735250010

Managing Director

Withdrawn

Registered

Hot Roll Srl

Milano (MI) - IT -

05735250010

Director

Withdrawn

Registered

ZF-LEMFORDER ITALIA S.P.A.

Brescia (BS) - IT -

01813270012

Institor

Withdrawn

Registered

Odv- Officine Di Villamarzana S.p.a.

Milano (MI) - IT -

02645500360

Director

Withdrawn

Registered

Odv- Officine Di Villamarzana S.p.a.

Milano (MI) - IT -

02645500360

Procurator

Withdrawn

Registered

 

Longhi

Antonio Marco Nello

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Italfond S.p.a.

Bagnolo Mella (BS) - IT -

00295210173

Director

Active

Registered

Italfond S.p.a.

Bagnolo Mella (BS) - IT -

00295210173

Managing Director

Active

Registered

Forgiatura A. Vienna Di Antonio Vienna EC. S.a.s.

Rho (MI) - IT -

03007190154

Limited Partner

Active

Registered

Forges S.p.a.

Cividale del Friuli (UD) - IT -

01780800304

Director

Active

Registered

G.i.v.a. S.p.a.

Rho (MI) - IT -

02917180172

Director

Active

Registered

Nunki Steel S.p.a.

San Giorgio di Nogaro (UD) - IT -

02891220275

Director

Active

Registered

Nunki Steel S.p.a.

San Giorgio di Nogaro (UD) - IT -

02891220275

Assistant board Chairman

Active

Registered

Nunki Steel S.p.a.

San Giorgio di Nogaro (UD) - IT -

02891220275

Managing Director

Active

Registered

Finav S.r.l.

Milano (MI) - IT -

12279870153

Director

Active

Registered

Rmt Valvomeccanica S.r.l.

Solbiate Olona (VA) - IT -

12375180150

Director

Active

Registered

Forgia Di Bollate S.p.a.

Canneto sull'Oglio (MN) - IT -

02233680202

Director

Active

Registered

Cola S.r.l.

Brescia (BS) - IT -

02495830982

Sole Director

Active

Registered

Ttv S.r.l.

Cella Dati (CR) - IT -

01549920195

Director

Active

Registered

Travar Tec Srl

Rodengo-Saiano (BS) - IT -

03591030980

Partner

Withdrawn

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

Predaroli Giuliana

Asola - IT -

PRDGLN55H48A470V

2.500.000 .Eur

25,00

Rossi Federica

Asola - IT -

RSSFRC80H68D284J

2.500.000 .Eur

25,00

G.i.v.a. S.p.a.

02917180172

7.100.000 .Eur

71,00

Rossi Francesca

RSSFNC87S43A470B

2.500.000 .Eur

25,00

Sofima S.r.l.

01516600176

400.000 .Eur

4,00

 

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Assoenergia Societa' Per Azioni O In For ma Abbreviata Assoenergia S.p.a. In Liqu

Brescia - IT -

03445950177

30 .Eur

0,02

Active

V.r.m. S.r.l.

Visano - IT -

03206850178

14.000 .Eur

70,00

Active

Metab Societa' A Responsabilita' Limitat a

Visano - IT -

03167780984

80.000 .Eur

80,00

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

Dell'industria

, 5

- 25010

- Visano

(BS)

- IT -

 

PHONE

: 030995881

 

PHONE

: 0309522511

 

FAX

: 0309522590

 

FAX

: 0309522591

 

-

Branch

(Sales office)

since 01/04/1997

until 15/06/1999

 

Marconi

, 36

- 25010

- Visano

(BS)

- IT -

 

PHONE

: 030998821

 

-

Branch

(Factory)

since 10/05/2010

 

Provinciale 4

, 7

- 46013

- Canneto sull'Oglio

(MN)

- IT -

 

Employees

: 167

 

Fittings and Equipment for a value of 25.790.000

Eur

 

Stocks for a value of 34.690.000

Eur

 

 

Traded Brands / Suppliers

 

- Aldo Siderurgica

 

- Breitenseld

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Vienna

Antonio Giuseppe

 

Born in Borgounito

(BG)

on 19/08/1941

- Fiscal Code : VNNNNG41M19F205Z

 

Residence:

Trieste

, 16

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Board Chairman

 

Capra

Ferruccio

 

Born in Montichiari

(BS)

on 04/02/1950

- Fiscal Code : CPRFRC50B04F471I

 

Residence:

Cornelio Trav. I

, 12

- 25018

Montichiari

(BS)

- IT -

 

Ex-Postions

Permanent Auditor

 

Vienna

Angela

 

Born in Milano

(MI)

on 25/04/1969

- Fiscal Code : VNNNGL69D65F205Z

 

Residence:

Faruffini

, 32

- 20149

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Belussi

Marino

 

Born in Rovato

(BS)

on 26/07/1971

- Fiscal Code : BLSMRN71L26H598N

 

Residence:

Breano

, 18

- 25030

Erbusco

(BS)

- IT -

 

Ex-Postions

Temporary Auditor

 

Ferrari

Alessandro

 

Born in Casalmoro

(MN)

on 30/09/1943

- Fiscal Code : FRRLSN43P30B901L

 

Residence:

San Fiorano

, 8

- 25123

Brescia

(BS)

- IT -

 

Ex-Postions

Institor

 

Predaroli

Giuliana

 

Born in Asola

(MN)

on 08/06/1955

- Fiscal Code : PRDGLN55H48A470V

 

Residence:

Circonvallazione Ovest

, 49

- 46041

Asola

(MN)

- IT -

 

Ex-Postions

Partner

 

Rossi

Federica

 

Born in Desenzano del Garda

(BS)

on 28/06/1980

- Fiscal Code : RSSFRC80H68D284J

 

Residence:

Circonvallazione Ovest

, 49

- 46041

Asola

(MN)

- IT -

 

Ex-Postions

Partner

 

G.i.v.a. S.p.a.

 

- Fiscal Code : 02917180172

 

Ex-Postions

Partner

 

Rossi Francesca

 

- Fiscal Code : RSSFNC87S43A470B

 

Ex-Postions

Partner

 

Scalmana

Alessandro

 

Born in Brescia

(BS)

on 04/06/1976

- Fiscal Code : SCLLSN76H04B157W

 

Residence:

G. Marconi

, 57

- 25010

Visano

(BS)

- IT -

 

Ex-Postions

Temporary Auditor

 

Zaltieri

Reginaldo

 

Born in Gottolengo

(BS)

on 13/08/1958

- Fiscal Code : ZLTRNL58M13E116H

 

Residence:

Xx Settembre

, 41

- 25010

Isorella

(BS)

- IT -

 

Ex-Postions

Procurator

Institor

Technical Manager

 

Leone

Fabio

 

Born in Chiari

(BS)

on 02/08/1963

- Fiscal Code : LNEFBA63M02C618F

 

Residence:

Brescia

, 17/B

- 25032

Chiari

(BS)

- IT -

 

Ex-Postions

Permanent Auditor

 

Galdi

Stefano

 

Born in Napoli

(NA)

on 02/12/1966

- Fiscal Code : GLDSFN66T02F839J

 

Residence:

Della Disciplina

, 8

- 25121

Brescia

(BS)

- IT -

 

Ex-Postions

Permanent Auditor

Temporary Auditor

 

Pezzetti

Pierluigi

 

Born in MILANO

(MI)

on 13/06/1942

- Fiscal Code : PZZPLG42H13F205F

 

Residence:

LONDONIO FRANCESCO

, 1

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Menni

Aurelio

 

Born in Milano

(MI)

on 02/11/1948

- Fiscal Code : MNNRLA48S02F205Z

 

Residence:

Bulloni

, 12

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Longhi

Antonio

 

Born in Milano

(MI)

on 13/05/1964

- Fiscal Code : LNGNTN64E13F205B

 

Residence:

Faruffini

, 32

- 20149

Milano

(MI)

- IT -

 

Ex-Postions

Managing Director

Director

Managing Director

Director

 

Rossi

Paolo

 

Born in Visano

(BS)

on 23/05/1955

- Fiscal Code : RSSPLA55E23M070K

 

Residence:

Circonvallazione

, 49

- 46041

Asola

(MN)

- IT -

 

Ex-Postions

Managing Director

Director

Technical Manager

 

Vienna

Antonella

 

Born in Milano

(MI)

on 01/05/1972

- Fiscal Code : VNNNNL72E41F205M

 

Residence:

Trieste

, 14

- 20146

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Soldo

Angelo

 

Born in Brescia

(BS)

on 17/01/1944

- Fiscal Code : SLDNGL44A17B157U

 

Residence:

Romanino

, 1

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Temporary Auditor




Protests

 

Protests checking on the subject firm has given a negative result.

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

 

Legal Procedures

 

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

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

BANCA AGRICOLA MANTOVANA S.P.A.

AG.8

VIA DELLA LIBERTA , 16

46041

Asola

5024

57440

 

Financial and Economical Analysis

 

Company's starting of activities dates back to 1985.

Balance sheets for the years 2011, 2012 and 2013 were analyzed.

Unstable economic results mark the company's financial state of affairs. with a negative economic result in the last financial year.

A loss is registered as to the operating result (-0,15%).

the operating loss amounts to Eur. -196.995.

During the latest financial year the gross operating margin amounted to Eur. 3.729.521 showing a downward trend as opposed to the previous year.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,91 increasing compared to last year (0,89)

Subject can manage an equity capital funds for an amount of Eur. 58.539.473 on stable levels.

Total indebtedness totalled Eur. 54.468.531, , a more or less stable value.

The company does not exceed in bank credits; payments average period is instead slightly high (125,67 gg.) even if it still falls within the sector's average.

Liquidity is good (1,11)

Trade credits average terms are 76,1 days. , lower than the sector's average.

Eur. 3.359.148 is the value of cash flow during the year 2013

Labour cost amounts to Eur. 8.857.416, with a 11,28% incidence on production costs. , whereas the incidence on sales revenues is of 11,55%.

The incidence of the financial charges is of -0,93% on the sales amount.

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

76.692.751

Profit (Loss) for the period

-567.368

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

79.431.449

Profit (Loss) for the period

513.289

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

63.238.122

Profit (Loss) for the period

626.602

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

53.649.076

Profit (Loss) for the period

5.444.325

 

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 31/12/2013 - 12 Mesi - Currency: - Amounts x 1

 

- 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

 

Years

2013

2012

2011

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

940

1.880

. . Research,develop. and advert.expens.

. . Industrial patent rights

2.372

8.360

17.127

. . Concessions,licenses,trademarks,etc.

. . Goodwill

. . Assets in formation and advance paymen.

1.101.220

7.500

. . Other intangible fixed assets

3.891.385

3.029.599

3.058.859

. Total Intangible Fixed Assets

4.994.977

3.046.399

3.077.866

. TANGIBLE FIXED ASSETS

. . Real estate

28.309.325

26.957.174

24.587.532

. . Plant and machinery

24.928.370

24.092.626

22.829.327

. . Industrial and commercial equipment

858.343

922.400

569.239

. . Other assets

676.586

556.398

525.262

. . Assets under construction and advances

2.429.115

7.067.771

9.086.876

. Total Tangible fixed assets

57.201.739

59.596.369

57.598.236

. FINANCIAL FIXED ASSETS

. . Equity investments

628.136

628.136

628.136

. . . Equity invest. in subsidiary companies

622.280

622.280

622.280

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

5.856

5.856

5.856

. . 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

628.136

628.136

628.136

Total fixed assets

62.824.852

63.270.904

61.304.238

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

14.203.446

13.062.369

14.315.901

. . Work in progress and semimanufactured

18.264.940

17.532.920

12.882.317

. . Work in progress on order

. . Finished goods

2.222.196

3.602.942

2.142.037

. . Advance payments

. Total Inventories

34.690.582

34.198.231

29.340.255

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

24.819.421

25.791.176

23.284.150

. . Beyond 12 months

17.135

17.135

14.834

. . Trade receivables

16.211.908

16.810.393

13.810.928

. . . . Within 12 months

16.211.908

16.810.393

13.796.094

. . . . Beyond 12 months

14.834

. . Receivables due from subsid. comp.

21.899

240.603

457.800

. . . . Within 12 months

21.899

240.603

457.800

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

911.500

973.794

1.319.265

. . . . Within 12 months

911.500

973.794

1.319.265

. . . . Beyond 12 months

. . Fiscal Receivables

87.852

3.823

3.382

. . . . Within 12 months

87.852

3.823

3.382

. . . . Beyond 12 months

. . Receivables for anticipated taxes

7.304.272

7.540.604

7.591.151

. . . . Within 12 months

7.304.272

7.540.604

7.591.151

. . . . Beyond 12 months

. . Receivables due from third parties

299.125

239.094

116.458

. . . . Within 12 months

281.990

221.959

116.458

. . . . Beyond 12 months

17.135

17.135

. Total Credits not held as fixed assets

24.836.556

25.808.311

23.298.984

. FINANCIAL ASSETS

. . Equity invest. in subsidiary comp.

. . Equity invest. in associated companies

. . Equity invest. in holding companies

. . Other equity investments

. . Own shares

. . . Total nominale value

. . Other securities

. Total Financial Assets

. LIQUID FUNDS

. . Bank and post office deposits

1.093.252

3.881.229

3.503.438

. . Checks

. . Banknotes and coins

2.511

3.116

3.113

. Total Liquid funds

1.095.763

3.884.345

3.506.551

Total current assets

60.622.901

63.890.887

56.145.790

ADJUSTMENT ACCOUNTS

. Discount on loans

6.251.931

6.341.824

6.318.188

. Other adjustment accounts

Total adjustments accounts

6.251.931

6.341.824

6.318.188

TOTAL ASSETS

129.699.684

133.503.615

123.768.216

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

10.000.000

10.000.000

10.000.000

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

1.100.000

1.050.000

1.000.000

. Reserve for Own shares

. Statute reserves

. Other reserves

48.006.841

47.543.553

46.966.950

. Accumulated Profits (Losses)

. Profit( loss) of the year

-567.368

513.289

626.602

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

58.539.473

59.106.842

58.593.552

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

. . Other funds

15.964.437

17.435.172

Total Reserves for Risks and Charges

15.964.437

17.200.000

17.435.172

Employee termination indemnities

653.965

859.935

1.088.210

ACCOUNTS PAYABLE

. . . . Within 12 months

54.468.531

56.244.348

46.623.873

. . . . Beyond 12 months

. . 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

26.097.641

23.314.202

13.702.881

. . . . Within 12 months

26.097.641

23.314.202

13.702.881

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

1.312.599

2.799.330

3.081.140

. . . . Within 12 months

1.312.599

2.799.330

3.081.140

. . . . Beyond 12 months

. . Trade payables

20.657.730

26.065.674

25.649.706

. . . . Within 12 months

20.657.730

26.065.674

25.649.706

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

327.080

422.010

397.412

. . . . Within 12 months

327.080

422.010

397.412

. . . . Beyond 12 months

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

2.265.278

616.414

841.139

. . . . Within 12 months

2.265.278

616.414

841.139

. . . . Beyond 12 months

. . Due to the tax authorities

802.900

487.675

511.013

. . . . Within 12 months

802.900

487.675

511.013

. . . . Beyond 12 months

. . Due to social security and welfare inst.

408.151

401.316

407.672

. . . . Within 12 months

408.151

401.316

407.672

. . . . Beyond 12 months

. . Other payables

2.597.152

2.137.727

2.032.910

. . . . Within 12 months

2.597.152

2.137.727

2.032.910

. . . . Beyond 12 months

Total accounts payable

54.468.531

56.244.348

46.623.873

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

73.278

92.490

27.409

Total adjustment accounts

73.278

92.490

27.409

TOTAL LIABILITIES

129.699.684

133.503.615

123.768.216

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

-17.199.076

-21.674.729

Risk accounts

-308.570

-2.237.124

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

76.692.751

79.431.450

63.238.121

. Changes in work in progress

-648.726

6.111.508

5.667.317

. Changes in semi-manufact. products

. Capitalization of internal work

1.326.751

932.897

1.069.918

. Other income and revenues

935.638

689.035

619.015

. . Contributions for operating expenses

. . Different income and revenues

935.638

689.035

619.015

Total value of production

78.306.414

87.164.890

70.594.371

PRODUCTION COSTS

. Raw material,other materials and consum.

37.396.240

43.356.619

36.710.115

. Services received

22.695.143

15.960.065

. Leases and rentals

29.205.706

6.327.725

3.564.929

. Payroll and related costs

8.857.416

8.542.074

7.360.801

. . Wages and salaries

6.385.881

6.095.621

5.192.097

. . Social security contributions

2.070.201

2.044.262

1.794.730

. . Employee termination indemnities

401.334

402.191

373.974

. . Pension and similar

. . Other costs

. Amortization and depreciation

3.926.516

3.406.075

2.906.996

. . Amortization of intangible fixed assets

424.247

230.939

234.664

. . Amortization of tangible fixed assets

3.502.269

3.175.136

2.672.332

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

. Changes in raw materials

-1.141.078

1.253.533

2.455.805

. Provisions to risk reserves

. Other provisions

. Other operating costs

258.609

251.363

209.062

Total production costs

78.503.409

85.832.532

69.167.773

Diff. between value and cost of product.

-196.995

1.332.358

1.426.598

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

47.896

42.797

45.515

. . Financ.income from receivables

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

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

. . Financ.income from secur. cur.assets

. . Financ.income other than the above

47.896

42.797

45.515

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

409

2.556

642

. . . - Other companies

47.487

40.241

44.873

. Interest and other financial expense

-762.998

-512.989

-172.489

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

-7.522

-213

-21.921

. . Towards other companies

762.998

512.989

172.489

Total financial income and expense

-715.102

-470.192

-126.974

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

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

. . Of securities incl.among current assets

. Devaluation

. . Of equity investments

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

738.180

463.549

1.242.263

. . Gains on disposals

. . Other extraordinary income

738.180

463.549

1.242.263

. Extraordinary expense

-308.965

-169.952

-690.414

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-308.965

-169.952

-690.414

Total extraordinary income and expense

429.215

293.597

551.849

Results before income taxes

-482.882

1.155.763

1.851.473

. Taxes on current income

84.486

642.474

1.224.871

. . current taxes

-151.846

591.927

863.632

. . differed taxes(anticip.)

236.332

50.547

361.239

. Net income for the period

-567.368

513.289

626.602

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-567.368

513.289

626.602

 

RATIOS

Value Type

as at 31/12/2013

as at 31/12/2012

as at 31/12/2011

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,48

0,47

0,50

0,29

Elasticity Ratio

Units

0,47

0,48

0,45

0,68

Availability of stock

Units

0,27

0,26

0,24

0,17

Total Liquidity Ratio

Units

0,20

0,22

0,22

0,46

Quick Ratio

Units

0,01

0,03

0,03

0,01

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,91

0,89

0,74

2,76

Self Financing Ratio

Units

0,45

0,44

0,47

0,19

Capital protection Ratio

Units

0,84

0,82

0,82

0,73

Liabilities consolidation quotient

Units

0,01

0,02

0,02

0,26

Financing

Units

0,93

0,95

0,80

3,72

Permanent Indebtedness Ratio

Units

0,46

0,45

0,48

0,40

M/L term Debts Ratio

Units

0,01

0,01

0,01

0,14

Net Financial Indebtedness Ratio

Units

0,43

0,33

0,17

1,43

CORRELATION

Fixed assets ratio

Units

0,94

0,95

0,97

1,26

Current ratio

Units

1,11

1,14

1,20

1,17

Acid Test Ratio-Liquidity Ratio

Units

0,48

0,53

0,57

0,82

Structure's primary quotient

Units

0,93

0,93

0,96

0,66

Treasury's primary quotient

Units

0,02

0,07

0,08

0,03

Rate of indebtedness ( Leverage )

%

221,56

225,87

211,23

525,76

Current Capital ( net )

Value

6.154.370

7.646.539

9.521.917

298.138

RETURN

Return on Sales

%

4,38

4,93

5,59

4,68

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

%

-0,97

0,87

1,07

3,71

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

%

-0,82

1,96

3,16

13,44

Return on Investment ( R.O.I. )

%

-0,15

1,00

1,15

4,74

Return/ Sales

%

-0,26

1,68

2,26

4,15

Extra Management revenues/charges incid.

%

n.c.

38,52

43,92

21,51

Cash Flow

Value

3.359.148

3.919.364

3.533.598

185.471

Operating Profit

Value

-196.995

1.332.358

1.426.598

194.639

Gross Operating Margin

Value

3.729.521

4.738.433

4.333.594

390.334

MANAGEMENT

Credits to clients average term

Days

76,10

76,19

78,62

101,01

Debts to suppliers average term

Days

125,67

134,81

172,13

120,12

Average stock waiting period

Days

162,84

154,99

167,03

52,84

Rate of capital employed return

(Turnover)

Units

0,59

0,59

0,51

1,16

Rate of stock return

Units

2,21

2,32

2,16

6,79

Labour cost incidence

%

11,55

10,75

11,64

15,66

Net financial revenues/ charges incidence

%

-0,93

-0,59

-0,20

-1,77

Labour cost on purchasing expenses

%

11,28

9,95

10,64

16,92

Short-term financing charges

%

1,40

0,91

0,37

3,19

Capital on hand

%

169,12

168,07

195,72

85,76

Sales pro employee

Value

277.872

298.614

274.948

226.946

Labour cost pro employee

Value

32.092

32.113

32.003

33.958

 

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

:

1.169.259

Population living in the region

:

9.393.092

Number of families in the region

:

3.858.736

 

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

 

- per food products

:

460

- per non food products

:

2.090

- per energy consume

:

114

 

Sector Data

 

The values are calculated on a base of 680 significant companies.

The companies cash their credits on an average of 101 dd.

The average duration of suppliers debts is about 120 dd.

The sector's profitability is on an average of 4,68%.

The labour cost affects the turnover in the measure of 15,66%.

Goods are held in stock in a range of 53 dd.

The difference between the sales volume and the resources used to realize it is about 1,16.

The employees costs represent the 16,92% of the production costs.

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered moderately risky.

In the region 50.886 protested subjects are found; in the province they count to 5.551.

The insolvency index for the region is 0,55, , while for the province it is 0,48.

Total Bankrupt companies in the province : 3.452.

Total Bankrupt companies in the region : 39.612.

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.98.06

Euro

1

Rs.76.67

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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

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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.