MIRA INFORM REPORT

 

 

Report No. :

305170

Report Date :

28.01.2015

 

IDENTIFICATION DETAILS

 

Name :

PROFILINOX - S.P.A.

 

 

Registered Office :

Via Alfred Bernhard Nobel, 3/A,

43122 – Parma (PR)      

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

20.03.1986

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Manufacturer of Tubes, Barrame, Pipes, Hollow Profiles and related Fittings in Steel (except those in Refined Steel)

·         Wholesale of Metalliferous Minerals, Ferrous Metals and Semi-Finished Products

·         Engaged in distribution of Long Profiles in the various sections of Stainless Steel. 

 

 

No of Employees :

45

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 & address

 

Profilinox - S.p.a.

 

Via Alfred Bernhard Nobel, 3/A

 

43122 - Parma (PR) -IT-

 

 

Summary

 

Fiscal Code

:

01543470346

Legal Form

:

Joint stock company

start of Activities

:

25/09/1986

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

45

 

 

Activity

 

·         Manufacturer of Tubes, Barrame, Pipes, Hollow Profiles and related Fittings in Steel (except those in Refined Steel)

·         Wholesale of Metalliferous Minerals, Ferrous Metals and Semi-Finished Products

·         Engaged in distribution of Long Profiles in the various sections of Stainless Steel. 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01543470346

 

Foreign Trade Reg. no. : PR010563 since 01/12/1992

 

Chamber of Commerce no. : 161498 of Parma since 22/04/1986

 

Firms' Register : PR027-16737 of Parma

 

V.A.T. Code : 01543470346

 

Tribunal Co. Register : 16737 of

 

Foundation date

: 25/09/1986

Establishment date

: 20/03/1986

Start of Activities

: 25/09/1986

Legal duration

: 31/12/2050

Nominal Capital

: 1.000.000

Subscribed Capital

: 1.000.000

Paid up Capital

: 1.000.000




Members

 

Vender

Giovanni

 

Born in Parma

(PR)

on 15/08/1942

- Fiscal Code : VNDGNN42M15G337P

 

Residence:

Delle Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

16/12/2013

Managing Director

17/12/2013

Assistant board Chairman

16/12/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Mattioli

Manuela

 

Born in Parma

(PR)

on 10/03/1947

- Fiscal Code : MTTMNL47C50G337Y

 

Residence:

Delle Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

16/12/2013

Managing Director

17/12/2013

Board Chairman

16/12/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Vender

Laura

 

Born in Parma

(PR)

on 08/11/1976

- Fiscal Code : VNDLRA76S48G337K

 

Residence:

Trieste

, 3/1

- 43122

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

16/12/2013



Vender

Enrico

 

Born in Parma

(PR)

on 14/03/1983

- Fiscal Code : VNDNRC83C14G337T

 

Residence:

I E Cleofonte Campanini

, 31

- 43123

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Assistant board Chairman

16/12/2013

Director

16/12/2013

Managing Director

17/12/2013

 

No Prejudicial events are reported

 

No Protests registered

 

E.l. Gioe S.r.l.

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Acciai Vender Societa' Per Azioni

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Rivara

Giancarlo

 

Born in Parma

(PR)

on 26/05/1970

- Fiscal Code : RVRGCR70E26G337L

 

Residence:

Campirolo

, 2

- 43044

Collecchio

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

16/05/2014

 

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.

 

Vender

Giovanni

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

S.l.m. Service S.r.l.

Parma (PR) - IT -

02313550267

Director

Withdrawn

Registered

M.a. Centro Inossidabili Societa' Per Azioni

Calenzano (FI) - IT -

04059840480

Director

Active

Registered

M.a. Centro Inossidabili Societa' Per Azioni

Calenzano (FI) - IT -

04059840480

Board Chairman

Active

Registered

Albergo Tre Ville S.r.l.

Parma (PR) - IT -

02052210347

Director

Active

Registered

Albergo Tre Ville S.r.l.

Parma (PR) - IT -

02052210347

Board Chairman

Withdrawn

Registered

Gruppo Inox - Societa' Per Azioni

Monza (MB) - IT -

02766730960

Director

Withdrawn

Merged

Gruppo Inox - Societa' Per Azioni

Monza (MB) - IT -

02766730960

Assistant board Chairman

Withdrawn

Merged

Vender S.p.a.

Brugherio (MB) - IT -

02084770342

Sole Director

Active

Registered

Capital E Consulting S.r.l.

Parma (PR) - IT -

02172960342

Board Chairman

Withdrawn

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Managing Director

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Director

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Managing Director

Withdrawn

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Board Chairman

Active

Registered

Mariven S.r.l.

Gazoldo degli Ippoliti (MN) - IT -

02238870204

Director

Active

Registered

Mariven S.r.l.

Gazoldo degli Ippoliti (MN) - IT -

02238870204

Sole Director

Withdrawn

Registered

Centro Acciai Inox S.r.l.

Modugno (BA) - IT -

03986610727

Director

Active

Registered

Centro Acciai Inox S.r.l.

Modugno (BA) - IT -

03986610727

Assistant board Chairman

Withdrawn

Registered

Centro Acciai Inox S.r.l.

Modugno (BA) - IT -

03986610727

Board Chairman

Active

Registered

E.l. Gioe S.r.l.

Parma (PR) - IT -

02362970341

Board Chairman

Withdrawn

Registered

G.v. International S.p.a.

Parma (PR) - IT -

02238820340

Director

Active

Registered

G.v. International S.p.a.

Parma (PR) - IT -

02238820340

Board Chairman

Active

Registered

Finven Immobiliare S.r.l.

Parma (PR) - IT -

02362990349

Director

Withdrawn

Registered

Gv - Fin S.r.l.

Parma (PR) - IT -

02387140342

Director

Withdrawn

Registered

Gv - Fin S.r.l.

Parma (PR) - IT -

02387140342

Board Chairman

Withdrawn

Registered

G.r.t. Capital And Consulting S.r.l.

Trieste (TS) - IT -

01109910321

Director

Withdrawn

Registered

G.r.t. Capital And Consulting S.r.l.

Trieste (TS) - IT -

01109910321

Board Chairman

Withdrawn

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Director

Active

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Managing Director

Active

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Board Chairman

Active

Registered

Metaltrading S.r.l.

Parma (PR) - IT -

02315640348

Director

Withdrawn

Registered

Metaltrading S.r.l.

Parma (PR) - IT -

02315640348

Board Chairman

Withdrawn

Registered

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

Parma (PR) - IT -

02630580344

Director

Active

Registered

E.l.v. Service Srl In Liquidazione

Parma (PR) - IT -

02615410343

Managing Director

Withdrawn

Registered

E.l.v. Service Srl In Liquidazione

Parma (PR) - IT -

02615410343

Director

Withdrawn

Registered

Gruppo Inox S.p.A.

Monza (MB) - IT -

08048950961

Director

Withdrawn

Registered

Gruppo Inox S.p.A.

Monza (MB) - IT -

08048950961

Assistant board Chairman

Withdrawn

Registered

 

Mattioli

Manuela

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Veneta Inoxservice S.r.l.

Thiene (VI) - IT -

00891020240

Director

Withdrawn

Ceased

Finven Spa

Monza (MI) - IT -

07788450158

Director

Withdrawn

Registered

Finven Spa

Monza (MI) - IT -

07788450158

Managing Director

Withdrawn

Registered

Sidernastri Inox Srl

Monza (MI) - IT -

02471200960

Attorney with special power

Withdrawn

Ceased

FINANZIARIA FINAI S.R.L.

Parma (PR) - IT -

01793980341

Board Chairman

Withdrawn

Registered

EREDI GIULIANI EMMA VENDER - SOCIETA' INACCOMANDITA SEMPLICE

- -

00226770345

Liquidator

Withdrawn

Registered

M.a. Centro Inossidabili Societa' Per Azioni

Calenzano (FI) - IT -

04059840480

Director

Active

Registered

Gruppo Inox - Societa' Per Azioni

Monza (MB) - IT -

02766730960

Director

Withdrawn

Merged

Vender S.p.a.

Brugherio (MB) - IT -

02084770342

Procurator

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Managing Director

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Director

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Assistant board Chairman

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Board Chairman

Withdrawn

Registered

E.l. Gioe S.r.l.

Parma (PR) - IT -

02362970341

Director

Withdrawn

Registered

G.v. International S.p.a.

Parma (PR) - IT -

02238820340

Procurator

Active

Registered

I.V.P. S.R.L.

Parma (PR) - IT -

02278090341

Procurator

Withdrawn

Registered

Finven Immobiliare S.r.l.

Parma (PR) - IT -

02362990349

Director

Withdrawn

Registered

FININOX S.R.L.

Parma (PR) - IT -

02363050341

Director

Withdrawn

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Director

Active

Registered

Metaltrading S.r.l.

Parma (PR) - IT -

02315640348

Procurator

Withdrawn

Registered

E.l.v. Service Srl In Liquidazione

Parma (PR) - IT -

02615410343

Procurator

Active

Registered

Gruppo Inox S.p.A.

Monza (MB) - IT -

08048950961

Director

Withdrawn

Registered

 

Vender

Enrico

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Managing Director

Active

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Director

Withdrawn

Registered

Acciai Vender Societa' Per Azioni

Parma (PR) - IT -

00426590345

Assistant board Chairman

Active

Registered

E.l. Gioe S.r.l.

Parma (PR) - IT -

02362970341

Director

Withdrawn

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Director

Active

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Managing Director

Withdrawn

Registered

Arena Acciai S.r.l.

San Martino Buon Albergo (VR) - IT -

03875160230

Board Chairman

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

Profilinox - S.p.a.

Parma - IT -

01543470346

100.000 .Eur

10,00

E.l. Gioe S.r.l.

02362970341

350.000 .Eur

35,00

Acciai Vender Societa' Per Azioni

00426590345

550.000 .Eur

55,00

Profilinox - S.p.a.

01543470346

100.000 .Eur

10,00



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

Profilinox - S.p.a.

Parma - IT -

01543470346

100.000 .Eur

10,00

Active

Centro Commercio Ingrosso Parma - S.p.a.

Parma - IT -

92005660342

4.068 .Eur

3,38

Active

Mariven S.r.l.

Gazoldo degli Ippoliti - IT -

02238870204

15.000 .Eur

15,00

Active

 

Firm's location and structure

 

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

-

Legal and operative seat

since 30/01/1990

 

Alfred Bernhard Nobel

, 3/A

- 43100

- Parma

(PR)

- IT -

 

Employees

: 45

 

Fittings and Equipment for a value of 640.000

Eur

 

Stocks for a value of 8.000.000

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

16/06/1987

 

COMPANY'S CAPITAL CHANGES:

 

Former Type

Former Amount

New Type

New Amount

Changement Date

subcribed,nominal and issued

46.481Eur

subcribed,nominal and issued

103.291Eur

 

EX-MEMBERS / EX-POSITIONS:

 

Vender

Giovanni

 

Born in Parma

(PR)

on 15/08/1942

- Fiscal Code : VNDGNN42M15G337P

 

Residence:

Delle Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Ex-Postions

Chairman

Board Chairman

Managing Director

 

Mattioli

Manuela

 

Born in Parma

(PR)

on 10/03/1947

- Fiscal Code : MTTMNL47C50G337Y

 

Residence:

Delle Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Ex-Postions

Managing Director

 

Vender

Giovanni

 

Born in Parma

(PR)

on 15/08/1942

- Fiscal Code : VNDGNN42M15G337P

 

Residence:

Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Ex-Postions

Chairman

Board Chairman

 

Vender

Roberto

 

Born in Milano

(MI)

on 18/10/1970

- Fiscal Code : VNDRRT70R18F205M

 

Residence:

Feltre

, 71

- 20134

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Rossi

Luciana Maria

 

Born in Milano

(MI)

on 14/09/1948

- Fiscal Code : RSSLNM48P54F205I

 

Residence:

Feltre

, 71

- 20134

Milano

(MI)

- 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

 

The company is active since 1986

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

During the last years, it achieved profits (r.o.e. 2,76% on 2013)

The operating result was positive in the last financial year (2,67%) and in line with the sector's average.

An operating result of Eur. 1.945.843 has been registered. rising (+50,18%) in relation to the previous year.

The G.O.M. amounted to Eur. 3.390.190 with a 29,97% growth.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,08) with an improving trend as on the decrease.

The management generated equity capital for an amount of Eur. 31.486.389 , unchanged if compared to 2012.

In the year 2013 total debts amounted to Eur. 37.517.376 , a more or less stable value.

Moderate recourse to bank credit while the exposure towards suppliers is rather high but lined up with the field's average.

Liquidity is good (1,66)

Trade credits are collected slowly, average term is 241,86 days. besides being higher than the sector's average.

During financial year 2013 the cash flow amounted to Eur. 2.312.685

In the last financial year labour cost was of Eur. 1.967.080, with a 2,94% incidence on total costs of production. , whereas 2,89% is the incidence on sales revenues.

Financial charges have a limited incidence (-0,36%) on sales volume.

 

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

68.169.093

Profit (Loss) for the period

868.338

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

74.678.244

Profit (Loss) for the period

792.151

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

85.850.678

Profit (Loss) for the period

2.911.435

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

82.550.114

Profit (Loss) for the period

2.541.357

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

49.958.491

Profit (Loss) for the period

620.549

 

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.

. . Industrial patent rights

. . Concessions,licenses,trademarks,etc.

3.353

502

700

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

126.659

133.203

144.028

. Total Intangible Fixed Assets

130.012

133.705

144.728

. TANGIBLE FIXED ASSETS

. . Real estate

9.335.775

9.546.913

9.765.360

. . Plant and machinery

622.990

781.451

895.315

. . Industrial and commercial equipment

21.340

28.646

46.410

. . Other assets

120.772

133.508

142.561

. . Assets under construction and advances

. Total Tangible fixed assets

10.100.877

10.490.518

10.849.646

. FINANCIAL FIXED ASSETS

. . Equity investments

2.105.432

1.379.432

1.356.432

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

749.000

23.000

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

1.356.432

1.356.432

1.356.432

. . Financial receivables

505.950

55.950

55.950

. . . . Within 12 months

. . . . Beyond 12 months

505.950

55.950

55.950

. . . 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

505.950

55.950

55.950

. . . . Within 12 months

. . . . Beyond 12 months

505.950

55.950

55.950

. . Other securities

. . Own shares

1.000.000

1.000.000

1.000.000

. . . Total nominal value

. Total financial fixed assets

3.611.382

2.435.382

2.412.382

Total fixed assets

13.842.271

13.059.605

13.406.756

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

7.635.386

7.941.002

8.483.587

. . Advance payments

367.846

60.249

63.879

. Total Inventories

8.003.232

8.001.251

8.547.466

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

48.934.542

50.615.913

54.798.309

. . Beyond 12 months

448.721

250.871

415.307

. . Trade receivables

45.798.078

48.471.260

53.959.759

. . . . Within 12 months

45.798.078

48.471.260

53.959.759

. . . . 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.

1.886.283

. . . . Within 12 months

1.886.283

. . . . Beyond 12 months

. . Fiscal Receivables

804.052

1.679.414

728.618

. . . . Within 12 months

720.988

1.564.514

696.782

. . . . Beyond 12 months

83.064

114.900

31.836

. . Receivables for anticipated taxes

862.938

660.000

495.000

. . . . Within 12 months

522.775

550.000

137.500

. . . . Beyond 12 months

340.163

110.000

357.500

. . Receivables due from third parties

31.912

56.110

30.239

. . . . Within 12 months

6.418

30.139

4.268

. . . . Beyond 12 months

25.494

25.971

25.971

. Total Credits not held as fixed assets

49.383.263

50.866.784

55.213.616

. 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

1.555.485

729.456

106.112

. . Checks

. . Banknotes and coins

1.632

372

794

. Total Liquid funds

1.557.117

729.828

106.906

Total current assets

58.943.612

59.597.863

63.867.988

ADJUSTMENT ACCOUNTS

. Discount on loans

20.548

. Other adjustment accounts

17.305

18.041

Total adjustments accounts

20.548

17.305

18.041

TOTAL ASSETS

72.806.431

72.674.773

77.292.785

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

1.000.000

1.000.000

1.000.000

. Additional paid-in capital

. Revaluation reserves

7.491.045

7.491.045

7.491.045

. Legal reserve

200.000

200.000

200.000

. Reserve for Own shares

1.000.000

. Statute reserves

1.000.000

1.000.000

. Other reserves

20.927.006

20.134.857

17.223.423

. Accumulated Profits (Losses)

. Profit( loss) of the year

868.338

792.151

2.911.435

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

31.486.389

30.618.053

29.825.903

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

3.812

2.882

8.272

. . Taxation fund, also differed

3.090.052

2.945.882

2.940.921

. . Other funds

Total Reserves for Risks and Charges

3.093.864

2.948.764

2.949.193

Employee termination indemnities

652.852

637.539

554.291

ACCOUNTS PAYABLE

. . . . Within 12 months

35.517.376

35.824.111

40.747.923

. . . . Beyond 12 months

2.000.000

2.582.764

3.142.857

. . 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

14.344.912

13.682.421

19.814.266

. . . . Within 12 months

12.344.912

11.099.657

16.671.409

. . . . Beyond 12 months

2.000.000

2.582.764

3.142.857

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

377.792

. . . . Within 12 months

377.792

. . . . Beyond 12 months

. . Trade payables

22.475.657

24.428.841

23.748.825

. . . . Within 12 months

22.475.657

24.428.841

23.748.825

. . . . 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

66.745

. . . . Within 12 months

66.745

. . . . Beyond 12 months

. . Due to social security and welfare inst.

132.353

118.295

110.597

. . . . Within 12 months

132.353

118.295

110.597

. . . . Beyond 12 months

. . Other payables

186.662

177.318

150.347

. . . . Within 12 months

186.662

177.318

150.347

. . . . Beyond 12 months

Total accounts payable

37.517.376

38.406.875

43.890.780

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

55.950

63.542

72.618

Total adjustment accounts

55.950

63.542

72.618

TOTAL LIABILITIES

72.806.431

72.674.773

77.292.785

 

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

68.169.093

74.678.244

85.850.678

. Changes in work in progress

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

615.791

599.491

593.404

. . Contributions for operating expenses

1.000

. . Different income and revenues

614.791

599.491

593.404

Total value of production

68.784.884

75.277.735

86.444.082

PRODUCTION COSTS

. Raw material,other materials and consum.

60.918.709

68.074.081

77.404.079

. Services received

1.664.711

1.714.409

. Leases and rentals

2.054.939

401.776

394.979

. Payroll and related costs

1.967.080

1.849.038

1.786.487

. . Wages and salaries

1.397.471

1.295.142

1.175.100

. . Social security contributions

409.071

368.527

322.330

. . Employee termination indemnities

111.735

112.454

100.098

. . Pension and similar

. . Other costs

48.803

72.915

188.959

. Amortization and depreciation

1.444.347

1.312.674

1.293.116

. . Amortization of intangible fixed assets

14.574

11.023

11.185

. . Amortization of tangible fixed assets

429.773

440.525

446.770

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

1.000.000

861.126

835.161

. Changes in raw materials

305.616

542.585

-630.297

. Provisions to risk reserves

. Other provisions

. Other operating costs

148.350

137.197

96.308

Total production costs

66.839.041

73.982.062

82.059.081

Diff. between value and cost of product.

1.945.843

1.295.673

4.385.001

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

115

887

319

. . In subsidiary companies

. . In associated companies

. . In other companies

115

. Other financial income

440.823

546.577

418.009

. . 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

440.823

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

440.823

. Interest and other financial expense

-686.958

-608.953

-422.039

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

686.958

Total financial income and expense

-246.020

-61.489

-3.711

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

61.234

142.887

50.162

. . Gains on disposals

. . Other extraordinary income

61.234

142.887

50.162

. Extraordinary expense

-302.136

-123.572

-62.143

. . Losses on disposals

. . Taxes relating to prior years

-250.000

-100.000

. . Other extraordinary expense

-52.136

-23.572

-62.143

Total extraordinary income and expense

-240.902

19.315

-11.981

Results before income taxes

1.458.921

1.253.499

4.369.309

. Taxes on current income

590.583

461.348

1.457.874

. . current taxes

793.521

626.348

1.579.001

. . differed taxes(anticip.)

-202.938

-165.000

-121.127

. Net income for the period

868.338

792.151

2.911.435

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

868.338

792.151

2.911.435

 

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

0,19

0,18

0,17

0,33

Elasticity Ratio

Units

0,81

0,82

0,83

0,64

Availability of stock

Units

0,11

0,11

0,11

0,22

Total Liquidity Ratio

Units

0,70

0,71

0,72

0,41

Quick Ratio

Units

0,02

0,01

0,00

0,01

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,08

1,15

1,36

1,76

Self Financing Ratio

Units

0,43

0,42

0,39

0,28

Capital protection Ratio

Units

0,94

0,94

0,87

0,65

Liabilities consolidation quotient

Units

0,07

0,09

0,09

0,21

Financing

Units

1,19

1,25

1,47

2,32

Permanent Indebtedness Ratio

Units

0,47

0,47

0,43

0,44

M/L term Debts Ratio

Units

0,04

0,04

0,05

0,10

Net Financial Indebtedness Ratio

Units

0,41

0,42

0,66

1,23

CORRELATION

Fixed assets ratio

Units

2,47

2,59

2,50

1,38

Current ratio

Units

1,66

1,66

1,57

1,17

Acid Test Ratio-Liquidity Ratio

Units

1,43

1,44

1,36

0,80

Structure's primary quotient

Units

2,27

2,34

2,22

0,84

Treasury's primary quotient

Units

0,04

0,02

0,00

0,02

Rate of indebtedness ( Leverage )

%

231,23

237,36

259,15

353,85

Current Capital ( net )

Value

23.426.236

23.773.752

23.120.065

1.089.006

RETURN

Return on Sales

%

3,39

2,82

4,90

4,21

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

%

2,76

2,59

9,76

5,65

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

%

4,63

4,09

14,65

10,45

Return on Investment ( R.O.I. )

%

2,67

1,78

5,67

5,10

Return/ Sales

%

2,85

1,74

5,11

5,37

Extra Management revenues/charges incid.

%

44,63

61,14

66,40

32,26

Cash Flow

Value

2.312.685

2.104.825

4.204.551

656.826

Operating Profit

Value

1.945.843

1.295.673

4.385.001

725.724

Gross Operating Margin

Value

3.390.190

2.608.347

5.678.117

1.207.677

MANAGEMENT

Credits to clients average term

Days

241,86

233,66

226,27

103,53

Debts to suppliers average term

Days

128,49

125,38

107,52

107,64

Average stock waiting period

Days

42,26

38,57

35,84

64,91

Rate of capital employed return ( Turnover )

Units

0,94

1,03

1,11

1,09

Rate of stock return

Units

8,52

9,33

10,04

5,55

Labour cost incidence

%

2,89

2,48

2,08

10,69

Net financial revenues/ charges incidence

%

-0,36

-0,08

0,00

-1,62

Labour cost on purchasing expenses

%

2,94

2,50

2,18

11,43

Short-term financing charges

%

1,83

1,59

0,96

3,56

Capital on hand

%

106,80

97,32

90,03

91,63

Sales pro employee

Value

1.117.526

1.778.053

2.259.228

358.274

Labour cost pro employee

Value

32.247

44.024

47.012

35.860

 

 

Market / Territory Data

 

Population living in the province

:

413.198

Population living in the region

:

4.151.369

Number of families in the region

:

1.748.359

 

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

 

- per food products

:

425

- per non food products

:

2.063

- per energy consume

:

143




Sector Data

 

The values are calculated on a base of 185 significant companies.

The companies cash their credits on an average of 104 dd.

The average duration of suppliers debts is about 108 dd.

The sector's profitability is on an average of 4,21%.

The labour cost affects the turnover in the measure of 10,69%.

Goods are held in stock in a range of 65 dd.

The difference between the sales volume and the resources used to realize it is about 1,09.

The employees costs represent the 11,43% of the production costs.



Statistical Detrimental Data

 

Statistically the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 18.860 protested subjects are found; in the province they count to 1.231.

The insolvency index for the region is 0,46, , while for the province it is 0,31.

Total Bankrupt companies in the province : 1.624.

Total Bankrupt companies in the region : 14.698.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.46

UK Pound

1

Rs.92.77

Euro

1

Rs.69.03

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

MNL

 

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.