MIRA INFORM REPORT

 

 

Report Date :

09.09.2014              

 

IDENTIFICATION DETAILS

 

Name :

EFFEGI SERVICE - S.P.A.

 

 

Registered Office :

Via Spallanzani, 2 46100 – Mantova (MN) – IT -

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

10.12.1996

 

 

Legal Form :

Joint stock company

 

 

Line of Business :

Purchasing group; mandatories for purchasing, buyer

Wholesale of food, beverages and tobacco

Wholesale of fresh or conserved fruit and vegetables

Wholesale of meat and meat products

Wholesale of sugar and chocolate and sugar confectionery

 

 

No. of Employees :

26 to 35

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

Effegi Service - S.p.a.

 

Via

Spallanzani,

2

 

46100

- Mantova

(MN)

-IT-

 

 

Summary

 

Fiscal Code

:

01796580205

Legal Form

:

Joint stock company

start of Activities

:

08/05/1997

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 26 to 35


 

 

Activity

 

Purchasing group; mandatories for purchasing, buyer

Wholesale of food, beverages and tobacco

Wholesale of fresh or conserved fruit and vegetables

Wholesale of meat and meat products

Wholesale of sugar and chocolate and sugar confectionery

 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01796580205

 

Foreign Trade Reg. no. : MN015585 since 29/10/1998

 

Chamber of Commerce no. : 489506 of Firenze

 

Chamber of Commerce no. : 1657965 of Milano

 

Chamber of Commerce no. : 197171 of Mantova since 18/02/1997

 

Chamber of Commerce no. : 872776 of Roma

 

Chamber of Commerce no. : 1300447 of Roma

 

Firms' Register : MN-1997-142006 of Mantova since 18/02/1997

 

V.A.T. Code : 01796580205

 

R. E. C. no. : 30137 of Mantova since 09/04/1997

 

Foundation date

: 10/12/1996

Establishment date

: 10/12/1996

Start of Activities

: 08/05/1997

Legal duration

: 31/12/2060

Nominal Capital

: 666.000

 

Subscribed Capital

: 666.000

 

Paid up Capital

: 666.000

 

 

 

Members

 

Freddi

Romano

 

 

Born in San Giorgio di Mantova

(MN)

on 18/03/1929

- Fiscal Code : FRDRMN29C18H883J

 

 

Residence:

 

Punte

, C.M.

- 46010

Curtatone

(MN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/05/2012

 

 

Managing Director

23/05/2012

 

 

Assistant board Chairman

23/05/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Freddi

Franco

 

 

Born in Mantova

(MN)

on 27/12/1959

- Fiscal Code : FRDFNC59T27E897M

 

 

Residence:

 

Madonna Dell'orto

, 4

- 46100

Mantova

(MN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/05/2012

 

 

Board Chairman

23/05/2012

 

 

Managing Director

23/05/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Cirri

Luca

 

 

Born in Pistoia

(PT)

on 09/03/1962

- Fiscal Code : CRRLCU62C09G713K

 

 

Residence:

 

Norfini

, 21

- 51017

Pescia

(PT)

- IT -

 

Position

Since

Shares Amount

% Ownership

Person in charge

08/05/1997

 

 

Director

23/05/2012

 

 

Managing Director

23/05/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Franzoni

Massimo

 

 

Born in Castel d'Ario

(MN)

on 20/03/1948

- Fiscal Code : FRNMSM48C20C076G

 

 

Residence:

 

Quasimodo

, 20

- 46010

Curtatone

(MN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/05/2012

 

 

 

Mantua Surgelati - S.p.a.

 

 

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Italfrost S.p.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.

 

Freddi

Romano

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Industria Colori Freddi S. Giorgio - S.r.l.

Mantova (MN) - IT -

00682590203

Director

Active

Registered

Industria Colori Freddi S. Giorgio - S.r.l.

Mantova (MN) - IT -

00682590203

Board Chairman

Active

Registered

Polaris Industria Chimica S.r.l.

Thiene (VI) - IT -

00312240245

Liquidator

Withdrawn

Ceased

Bustaffa Emilio E Figli - S.p.a.

Bagnolo San Vito (MN) - IT -

00466940202

Managing Director

Active

Registered

Bustaffa Emilio E Figli - S.p.a.

Bagnolo San Vito (MN) - IT -

00466940202

Director

Active

Registered

Bustaffa Emilio E Figli - S.p.a.

Bagnolo San Vito (MN) - IT -

00466940202

Board Chairman

Active

Registered

Mantua Surgelati - S.p.a.

Castelbelforte (MN) - IT -

00151920204

Chairman

Withdrawn

Registered

Mantua Surgelati - S.p.a.

Castelbelforte (MN) - IT -

00151920204

Managing Director

Active

Registered

Mantua Surgelati - S.p.a.

Castelbelforte (MN) - IT -

00151920204

Director

Active

Registered

Mantua Surgelati - S.p.a.

Castelbelforte (MN) - IT -

00151920204

Board Chairman

Active

Registered

Conafre Di Contesini Tazio E C. - S.n.c.

Commessaggio (MN) - IT -

01652820208

Partner

Withdrawn

Ceased

Primafrost S.r.l.

Dalmine (BG) - IT -

01219510201

Sole Director

Withdrawn

Ceased

Italfrost S.p.a.

Castel d'Ario (MN) - IT -

01489740207

Managing Director

Withdrawn

Registered

Italfrost S.p.a.

Castel d'Ario (MN) - IT -

01489740207

Director

Active

Registered

Italfrost S.p.a.

Castel d'Ario (MN) - IT -

01489740207

Sole Director

Withdrawn

Registered

Italfrost S.p.a.

Castel d'Ario (MN) - IT -

01489740207

Board Chairman

Active

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Chairman

Withdrawn

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Managing Director

Active

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Director

Active

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Managing Director

Withdrawn

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Board Chairman

Active

Registered

Immobiliare S. Silvestro Di Freddi Romano E C. - S.a.s.

Mantova (MN) - IT -

00420590200

Partner

Withdrawn

Registered

Immobiliare S. Silvestro Di Freddi Romano E C. - S.a.s.

Mantova (MN) - IT -

00420590200

General Partner

Active

Registered

Immobilindustria S.p.a.

Mantova (MN) - IT -

00492540208

Managing Director

Withdrawn

Registered

Immobilindustria S.p.a.

Mantova (MN) - IT -

00492540208

Director

Withdrawn

Registered

Immobilindustria S.p.a.

Mantova (MN) - IT -

00492540208

Assistant board Chairman

Withdrawn

Registered

Immobiliare Mantova -s.r.l.

Mantova (MN) - IT -

00528330202

Director

Active

Registered

Immobiliare Mantova -s.r.l.

Mantova (MN) - IT -

00528330202

Sole Director

Withdrawn

Registered

Immobiliare Mantova -s.r.l.

Mantova (MN) - IT -

00528330202

Board Chairman

Active

Registered

Alisur 2 S.r.l.

Mantova (MN) - IT -

01585360207

Director

-

Ceased

Alisur 2 S.r.l.

Mantova (MN) - IT -

01585360207

Sole Director

Withdrawn

Ceased

Consorzio Universitario Mantovano Soc. Coop. A R.l.

Mantova (MN) - IT -

01666190200

Director

Withdrawn

Ceased

Immobiliare S. Silvestro Di Freddi Romano E C. - S.a.s.

Mantova (MN) - IT -

00420590200

General Partner

Withdrawn

Registered

Alisur 2 S.r.l.

Castelbelforte (MN) - IT -

01585360207

Director

Withdrawn

Ceased

IMMOBILINDUSTRIA S.P.A.

- -

00492540208

Director

Withdrawn

Registered

Carp S.n.c. Di Lasagna Carlo E Fausto

Poggio Rusco (MN) - IT -

01937670204

Director

Withdrawn

Registered

Colore S.r.l.

Thiene (VI) - IT -

03066000245

Managing Director

Active

Registered

Colore S.r.l.

Thiene (VI) - IT -

03066000245

Director

Active

Registered

Colore S.r.l.

Thiene (VI) - IT -

03066000245

Board Chairman

Active

Registered

 

Freddi

Franco

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Industria Colori Freddi S. Giorgio - S.r.l.

Mantova (MN) - IT -

00682590203

Chairman

Withdrawn

Registered

Bustaffa Emilio E Figli - S.p.a.

Bagnolo San Vito (MN) - IT -

00466940202

Managing Director

Active

Registered

Bustaffa Emilio E Figli - S.p.a.

Bagnolo San Vito (MN) - IT -

00466940202

Director

Active

Registered

Mantua Surgelati - S.p.a.

Castelbelforte (MN) - IT -

00151920204

Managing Director

Active

Registered

Mantua Surgelati - S.p.a.

Castelbelforte (MN) - IT -

00151920204

Director

Active

Registered

Primafrost S.r.l.

Dalmine (BG) - IT -

01219510201

Chairman

Withdrawn

Ceased

Primafrost S.r.l.

Dalmine (BG) - IT -

01219510201

Managing Director

Withdrawn

Ceased

Primafrost S.r.l.

Dalmine (BG) - IT -

01219510201

Director

Withdrawn

Ceased

Primafrost S.r.l.

Dalmine (BG) - IT -

01219510201

Person in charge

Withdrawn

Ceased

Italfrost S.p.a.

Castel d'Ario (MN) - IT -

01489740207

Director

Active

Registered

Italfrost S.p.a.

Castel d'Ario (MN) - IT -

01489740207

Sole Director

Withdrawn

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Managing Director

Active

Registered

Columbus Srl

Parma (PR) - IT -

01521530350

Director

Active

Registered

Immobiliare S. Silvestro Di Freddi Romano E C. - S.a.s.

Mantova (MN) - IT -

00420590200

Limited Partner

Active

Registered

Immobiliare Mantova -s.r.l.

Mantova (MN) - IT -

00528330202

Managing Director

Active

Registered

Immobiliare Mantova -s.r.l.

Mantova (MN) - IT -

00528330202

Director

Active

Registered

Alisur 2 S.r.l.

Mantova (MN) - IT -

01585360207

Chairman

Withdrawn

Ceased

Alisur 2 S.r.l.

Mantova (MN) - IT -

01585360207

Director

-

Ceased

Alisur 2 S.r.l.

Mantova (MN) - IT -

01585360207

Person in charge

Withdrawn

Ceased

Alisur 2 S.r.l.

Mantova (MN) - IT -

01585360207

Board Chairman

-

Ceased

Immobiliare S. Silvestro Di Freddi Romano E C. - S.a.s.

Mantova (MN) - IT -

00420590200

Limited Partner

Withdrawn

Registered

Alisur 2 S.r.l.

Castelbelforte (MN) - IT -

01585360207

Chairman

Withdrawn

Ceased

Alisur 2 S.r.l.

Castelbelforte (MN) - IT -

01585360207

Director

Withdrawn

Ceased

Discount Service Srl

Castelbelforte (MN) - IT -

01776860205

Director

Withdrawn

Registered

Orlando Gelati - S.r.l.

Castel d'Ario (MN) - IT -

01730030200

Chairman

Withdrawn

Registered

Orlando Gelati - S.r.l.

Castel d'Ario (MN) - IT -

01730030200

Managing Director

Withdrawn

Registered

Orlando Gelati - S.r.l.

Castel d'Ario (MN) - IT -

01730030200

Director

Active

Registered

Orlando Gelati - S.r.l.

Castel d'Ario (MN) - IT -

01730030200

Person in charge

Active

Registered

Orlando Gelati - S.r.l.

Castel d'Ario (MN) - IT -

01730030200

Board Chairman

Active

Registered

De.ma Dessert S.r.l.

Castelbelforte (MN) - IT -

02121790204

Sole Director

Active

Registered

De.ma Dessert S.r.l.

Castelbelforte (MN) - IT -

02121790204

Person in charge

Active

Registered

Primafrost S.r.l.

Dalmine (BG) - IT -

03503580163

Director

Active

Registered

 

Cirri

Luca

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Etruria S.p.a.

Milano (MI) - IT -

01835480151

Chairman

Withdrawn

Merged

Etruria S.p.a.

Milano (MI) - IT -

01835480151

Board Chairman

Withdrawn

Merged

Sitas - Societa' Italiana Alimenti Surgelati - S.r.l.

Origgio (VA) - IT -

06193250153

Sole Director

Withdrawn

Registered

Cirri Luca

Pescia (PT) - IT -

CRRLCU62C09G713K

Proprietor

-

Ceased

 

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.





Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Savoia Elisa

Mantova - IT -

SVALSE52M70I632D

26.640 .Eur

4,00

Cirri Luca

Pescia - IT -

CRRLCU62C09G713K

53.280 .Eur

8,00

Franzoni Massimo

Curtatone - IT -

FRNMSM48C20C076G

26.640 .Eur

4,00

Esti Mauro

Lastra a Signa - IT -

STEMRA62E08B157Y

53.280 .Eur

8,00

Mantua Surgelati - S.p.a.

 

00151920204

266.400 .Eur

40,00

Italfrost S.p.a.

 

01489740207

186.480 .Eur

28,00

Napel Italia Srl - U.s.

 

06736430965

53.280 .Eur

8,00

 

 

Direct Participations

 

The Company under review has no participations in other Companies.



Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

 

Spallanzani

, 2

- 46100

- Mantova

(MN)

- IT -

 

 

 

 

PHONE

: 0376343101

 

 

 

 

FAX

: 0376343102

 

-

Branch

(Store)

since 23/01/2006

 

 

 

 

 

 

Provinciale Pisana

, 143-143A

- 50050

- Cerreto Guidi

(FI)

- IT -

 

 

 

 

Employees

: 31

 

Fittings and Equipment for a value of 1.870.000

Eur

 

Stocks for a value of 9.830.000

Eur

 

 

 


Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

22/06/2000

 

EX-MEMBERS / EX-POSITIONS:

 

Mercanti

Lucio

 

 

Born in Medole

(MN)

on 03/04/1943

- Fiscal Code : MRCLCU43D03F086B

 

 

Residence:

 

Chiavichette

, 10/12

- 46100

Mantova

(MN)

- IT -

 

Ex-Postions

Permanent Auditor

Chairman of the Board of Aud.

 

Colantoni

Enrico

 

 

Born in Verona

(VR)

on 18/01/1966

- Fiscal Code : CLNNRC66A18L781H

 

 

Residence:

 

Quaranta Bernardo

, 40

- 20139

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Freddi

Romano

 

 

Born in San Giorgio di Mantova

(MN)

on 18/03/1929

- Fiscal Code : FRDRMN29C18H883J

 

 

Residence:

 

Punte

, C.M.

- 46010

Curtatone

(MN)

- IT -

 

Ex-Postions

Board Chairman

 

Savoia

Elisa

 

 

Born in Sermide

(MN)

on 30/08/1952

- Fiscal Code : SVALSE52M70I632D

 

 

Residence:

 

Sapone

, 5

- 46100

Mantova

(MN)

- IT -

 

Ex-Postions

Director

 

Freddi

Franco

 

 

Born in Mantova

(MN)

on 27/12/1959

- Fiscal Code : FRDFNC59T27E897M

 

 

Residence:

 

Madonna Dell'orto

, 4

- 46100

Mantova

(MN)

- IT -

 

Ex-Postions

Director

Board Chairman

Managing Director

 

Lui

Fausto

 

 

Born in Mantova

(MN)

on 21/08/1963

- Fiscal Code : LUIFST63M21E897K

 

 

Residence:

 

Del Corriere

, 5/D

- 46030

Virgilio

(MN)

- IT -

 

Ex-Postions

Temporary Auditor

 

Esti

Mauro

 

 

Born in BRESCIA

(BS)

on 08/05/1962

- Fiscal Code : STEMRA62E08B157Y

 

 

Residence:

 

DELLE SELVE

, 46

- 50055

Lastra a Signa

(FI)

- IT -

 

Ex-Postions

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: NEGATIVE

 

Search performed on a specialized data base.

 

 

Legal Procedures

 

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



Financial and Economical Analysis

 

Subject is active since 1997

The eonomic-financial analysis is based on the latest 3 b/s.

In the economic management , good and bad results followed on by turns. yet with a positive result in the 2013 (r.o.e. 9,15%). In the last financial year an increase in the turnover has been registered (+12,27%).

The return on Investment in the last financial year was positive (3,89%) falling within the field's average.

The operating result is positive and amounts to Eur. 1.217.323 increasing if compared to the yeart 2012.

The economic management produced a gross operating margin of Eur. 1.823.536 with a more then 100% increase as opposed to the preceding year.

The ratio between shareholder's equity and borrowed capital is not well balanced, the indebtedness level is equal to 5,55 falling if compared to 2012.

With regard to equity capital, an amount of Eur. 4.420.406 is registered. on stable levels.

During the last financial year total debts volume reached Eur. 26.379.705 (Eur. 1.612.299 were m/l term ones) on the same levels as the year before.

Bank borrowings' volume is slightly high but the recourse to suppliers' credit is modest below the sector's average.

Payments are supported by good current assets.

Due from customers average term is high and equal to 110,22 days. even higher than the average of the specific sector.

The financial management generated a cash flow of Eur. 1.010.601.

Labour cost expenses amount to Eur. 1.541.006 , representing 3,22% on the total of production costs. , whereas the incidence on sales revenues is of 3,19%.

The incidence of the financial charges is of -1,15% on the sales amount.



Financial Data

 

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

48.378.170

Profit (Loss) for the period

404.388

 

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

43.088.994

Profit (Loss) for the period

-18.302

 

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

47.365.426

Profit (Loss) for the period

446.113

 

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

42.488.145

Profit (Loss) for the period

939.934

 

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

40.354.533

Profit (Loss) for the period

153.054



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

 

 

 

. . Research,develop. and advert.expens.

15.869

21.158

 

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

9.258

17.811

26.909

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

 

 

 

. Total Intangible Fixed Assets

25.127

38.969

26.909

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

3.640.306

3.309.005

3.431.726

. . Plant and machinery

 

 

 

. . Industrial and commercial equipment

1.869.137

684.230

823.589

. . Other assets

 

 

 

. . Assets under construction and advances

21.029

1.010.710

13.736

. Total Tangible fixed assets

5.530.472

5.003.945

4.269.051

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

377

377

377

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

377

377

377

. . 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

377

377

377

Total fixed assets

5.555.976

5.043.291

4.296.337

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

9.829.867

10.564.561

11.406.242

. . Advance payments

 

 

 

. Total Inventories

9.829.867

10.564.561

11.406.242

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

15.603.239

14.256.970

15.057.388

. . Beyond 12 months

56.079

127.732

776

. . Trade receivables

14.811.225

13.752.394

14.416.800

. . . . Within 12 months

14.811.225

13.752.394

14.416.800

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

318.643

317.165

343.918

. . . . Within 12 months

263.287

261.809

343.918

. . . . Beyond 12 months

55.356

55.356

 

. . Receivables for anticipated taxes

80.947

71.653

 

. . . . Within 12 months

80.947

 

 

. . . . Beyond 12 months

 

71.653

 

. . Receivables due from third parties

448.503

243.490

297.446

. . . . Within 12 months

447.780

242.767

296.670

. . . . Beyond 12 months

723

723

776

. Total Credits not held as fixed assets

15.659.318

14.384.702

15.058.164

. 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

247.647

995.002

64.313

. . Checks

 

 

 

. . Banknotes and coins

5.687

3.229

5.469

. Total Liquid funds

253.334

998.231

69.782

Total current assets

25.742.519

25.947.494

26.534.188

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

40.345

 

. Other adjustment accounts

31.708

 

14.115

Total adjustments accounts

31.708

40.345

14.115

TOTAL ASSETS

31.330.203

31.031.130

30.844.640

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

666.000

666.000

666.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

133.200

133.200

133.200

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

3.216.818

3.235.120

2.789.006

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

404.388

-18.302

446.113

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

4.420.406

4.016.018

4.034.319

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

90.789

95.651

96.186

. . Taxation fund, also differed

17.600

35.200

52.800

. . Other funds

 

 

 

Total Reserves for Risks and Charges

108.389

130.851

148.986

Employee termination indemnities

387.194

363.634

342.993

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

24.767.406

24.189.808

24.417.979

. . . . Beyond 12 months

1.612.299

2.308.315

1.876.486

. . 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

21.461.634

20.163.528

19.997.497

. . . . Within 12 months

19.849.335

17.855.213

18.121.011

. . . . Beyond 12 months

1.612.299

2.308.315

1.876.486

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

4.078.806

5.644.204

5.483.156

. . . . Within 12 months

4.078.806

5.644.204

5.483.156

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

367.915

295.297

421.383

. . . . Within 12 months

367.915

295.297

421.383

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

82.485

74.023

89.101

. . . . Within 12 months

82.485

74.023

89.101

. . . . Beyond 12 months

 

 

 

. . Other payables

388.865

321.071

303.328

. . . . Within 12 months

388.865

321.071

303.328

. . . . Beyond 12 months

 

 

 

Total accounts payable

26.379.705

26.498.123

26.294.465

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

34.509

22.504

23.877

Total adjustment accounts

34.509

22.504

23.877

TOTAL LIABILITIES

31.330.203

31.031.130

30.844.640

 

 

 

 

 

 

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

48.378.170

43.088.994

47.365.426

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

683.241

699.635

880.075

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

683.241

699.635

880.075

Total value of production

49.061.411

43.788.629

48.245.501

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

39.899.438

35.954.889

43.746.999

. Services received

4.686.276

 

4.545.968

. Leases and rentals

92.726

4.350.466

87.273

. Payroll and related costs

1.541.006

1.527.356

1.506.925

. . Wages and salaries

1.118.090

1.104.129

1.093.917

. . Social security contributions

342.724

340.233

329.695

. . Employee termination indemnities

76.238

80.084

76.555

. . Pension and similar

 

 

 

. . Other costs

3.954

2.910

6.758

. Amortization and depreciation

606.213

412.969

415.830

. . Amortization of intangible fixed assets

13.843

15.223

10.009

. . Amortization of tangible fixed assets

480.437

385.912

392.516

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

111.933

11.834

13.305

. Changes in raw materials

734.695

841.681

-3.465.795

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

283.734

220.267

327.489

Total production costs

47.844.088

43.307.628

47.164.689

Diff. between value and cost of product.

1.217.323

481.001

1.080.812

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

15

14

11

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

14

 

. Other financial income

1.750

6.322

10.074

. . 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

 

6.322

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

6.322

 

. Interest and other financial expense

-555.746

-533.332

-350.422

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

533.332

 

Total financial income and expense

-553.981

-526.996

-340.337

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

13.679

55.358

1

. . Gains on disposals

 

 

 

. . Other extraordinary income

13.679

55.358

1

. Extraordinary expense

 

 

 

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

 

 

 

Total extraordinary income and expense

13.679

55.358

1

Results before income taxes

677.021

9.363

740.476

. Taxes on current income

272.633

27.665

294.363

. . current taxes

299.527

116.918

311.963

. . differed taxes(anticip.)

-26.894

-89.253

-17.600

. Net income for the period

404.388

-18.302

446.113

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

404.388

-18.302

446.113

 

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

0,18

0,16

0,14

0,13

Elasticity Ratio

Units

0,82

0,84

0,86

0,85

Availability of stock

Units

0,31

0,34

0,37

0,16

Total Liquidity Ratio

Units

0,51

0,50

0,49

0,62

Quick Ratio

Units

0,01

0,03

0,00

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

5,55

5,77

6,04

5,02

Self Financing Ratio

Units

0,14

0,13

0,13

0,13

Capital protection Ratio

Units

0,76

0,84

0,72

0,58

Liabilities consolidation quotient

Units

0,08

0,11

0,09

0,10

Financing

Units

5,97

6,60

6,52

6,17

Permanent Indebtedness Ratio

Units

0,20

0,22

0,20

0,25

M/L term Debts Ratio

Units

0,06

0,09

0,07

0,07

Net Financial Indebtedness Ratio

Units

4,80

4,77

4,94

1,16

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,16

1,33

1,46

1,57

Current ratio

Units

1,04

1,07

1,09

1,09

Acid Test Ratio-Liquidity Ratio

Units

0,64

0,64

0,62

0,85

Structure's primary quotient

Units

0,80

0,80

0,94

0,96

Treasury's primary quotient

Units

0,01

0,04

0,00

0,05

Rate of indebtedness ( Leverage )

%

708,76

772,68

764,56

743,68

Current Capital ( net )

Value

975.113

1.757.686

2.116.209

70.465

RETURN

 

 

 

 

 

Return on Sales

%

2,09

0,92

1,82

1,66

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

%

9,15

-0,46

11,06

6,68

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

%

15,32

0,23

18,35

19,39

Return on Investment ( R.O.I. )

%

3,89

1,55

3,50

3,84

Return/ Sales

%

2,52

1,12

2,28

2,16

Extra Management revenues/charges incid.

%

33,22

-3,80

41,28

28,56

Cash Flow

Value

1.010.601

394.667

861.943

48.046

Operating Profit

Value

1.217.323

481.001

1.080.812

59.910

Gross Operating Margin

Value

1.823.536

893.970

1.496.642

99.701

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

110,22

114,90

109,57

86,56

Debts to suppliers average term

Days

32,87

50,41

40,80

100,32

Average stock waiting period

Days

73,15

88,26

86,69

31,97

Rate of capital employed return ( Turnover )

Units

1,54

1,39

1,54

1,82

Rate of stock return

Units

4,92

4,08

4,15

11,18

Labour cost incidence

%

3,19

3,54

3,18

5,95

Net financial revenues/ charges incidence

%

-1,15

-1,22

-0,72

-0,81

Labour cost on purchasing expenses

%

3,22

3,53

3,20

5,95

Short-term financing charges

%

2,11

2,01

1,33

2,18

Capital on hand

%

64,76

72,02

65,12

54,67

Sales pro employee

Value

1.466.005

916.787

1.393.100

507.074

Labour cost pro employee

Value

46.697

32.496

44.321

32.650

 


Remarks

 

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

 

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

 

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

 

 

Market / Territory Data

 

Population living in the province

:

390.957

Population living in the region

:

9.393.092

Number of families in the region

:

3.858.736

 

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

 

- per food products

:

460

- per non food products

:

2.090

- per energy consume

:

114

 

 

Sector Data

 

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

 

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

The average duration of suppliers debts is about 100 dd.

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

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

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

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

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

 

 

Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 1.630.

The insolvency index for the region is 0,55, , while for the province it is 0,42.

Total Bankrupt companies in the province : 954.

Total Bankrupt companies in the region : 39.612.

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.60.26

UK Pound

1

Rs.97.51

Euro

1

Rs.77.94

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.