MIRA INFORM REPORT

 

 

Report No. :

305204

Report Date :

28.01.2015

 

IDENTIFICATION DETAILS

 

Name :

ANIXTER ITALIA S.R.L.

 

 

Registered Office :

Piazza Meda Filippo,     3

20121 – Milano (MI)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

14.12.1972

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Manufacture of Other Electronic and Electric Wires and Cables.

 

 

No. of Employees :

From 150 to 175

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

 

 

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 – 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 and address

 

Anixter Italia S.r.l.

 

Piazza Meda Filippo,     3

 

20121 - Milano (MI) -IT-

 

 

Summary

 

Fiscal Code

:

00314290172

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

29/09/1983

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 150 to 175

 

Activity

 

Manufacture of other electronic and electric wires and cables

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 00314290172

 

Foreign Trade Reg. no. : BS028370 since 13/01/1992

 

Chamber of Commerce no. : 488175 of Bari

 

Chamber of Commerce no. : 190201 of Brescia since 09/01/1973

 

Chamber of Commerce no. : 1825081 of Milano since 13/11/2006

 

Chamber of Commerce no. : 220181 of Novara

 

Chamber of Commerce no. : 262827 of Reggio Emilia

 

Chamber of Commerce no. : 217739 of Trento

 

Chamber of Commerce no. : 1130723 of Torino

 

Firms' Register : BS029-9757 of Brescia since 19/02/1996

 

V.A.T. Code : 00314290172

 

Foundation date

: 14/12/1972

Establishment date

: 14/12/1972

Start of Activities

: 29/09/1983

Legal duration

: 31/12/2050

Nominal Capital

: 1.092.000

Subscribed Capital

: 1.092.000

Paid up Capital

: 1.092.000

 

 

Members

 

Pignagnoli

Massimo

 

Born in Novellara

(RE)

on 18/02/1966

- Fiscal Code : PGNMSM66B18F960J

 

Residence:

Cesis

, 1/A

- 42012

Campagnola Emilia

(RE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

11/02/2010

 

No Prejudicial events are reported

 

No Protests registered

 

Banks

William Robert

 

Born in Hillington

( )

on 17/04/1952

- Fiscal Code : BNKWLM52D17Z114Y

 

Residence:

Sheepcote Lane

Tutchens Maidenhead

- GB -

 

Position

Since

Shares Amount

% Ownership

Director

30/04/2009

Board Chairman

30/04/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Bernard

Frederic Jean Andre'

 

Born in Niamey

( )

on 21/09/1959

- Fiscal Code : BRNFDR59P21Z335L

 

Residence:

Des Veterans 2 Bis

- 60300

Senlis

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/04/2009

 

Gelli

Francesco

 

Born in Vinci

(FI)

on 10/09/1973

- Fiscal Code : GLLFNC73P10M059R

 

Residence:

Romboli

, 19

- 50053

Empoli

(FI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

11/02/2010

 

No Prejudicial events are reported

 

No Protests registered

 

Anixter Italia Srl

 

 

Position

Since

Shares Amount

% Ownership

Sole partner

31/12/2008

 

No Prejudicial events are reported

 

No Protests registered

 

Cesarato

Guerrino

 

Born in Milano

(MI)

on 20/11/1960

- Fiscal Code : CSRGRN60S20F205H

 

Residence:

Bellini

, 23

- 20030

Bovisio-Masciago

(MB)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

24/02/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Stucchi

Fausto

 

Born in Melzo

(MI)

on 03/02/1964

- Fiscal Code : STCFST64B03F119V

 

Residence:

Bologna

, 4

- 20060

Pozzuolo Martesana

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

24/02/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Strada

Alessandro

 

Born in Brescia

(BS)

on 14/08/1968

- Fiscal Code : STRLSN68M14B157T

 

Residence:

Rizzo

, 70

- 25100

Brescia

(BS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

11/02/2010

 

No Prejudicial events are reported

 

No Protests registered

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

31/10/2006

 

No Protests registered

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

30/10/2006

 

No Protests registered

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

31/10/2006

 

No Protests registered

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

31/10/2006

 

No Protests registered

 

Ellis-rees

Hugh James

 

Born in Cirencester

( )

on 03/05/1957

 

Residence:

Crescent Lane

, 55

Londra

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/04/2012

 

Eurinvest B.v.

 

 

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.

 

Banks

William Robert

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Anixter Italia Srl

Milano (MI) - IT -

09840520150

Director

Withdrawn

Registered

Anixter Italia Srl

Milano (MI) - IT -

09840520150

Board Chairman

Withdrawn

Registered

A.g.l. Logistic System S.r.l.

Rovereto (TN) - IT -

03573650177

Director

Withdrawn

Registered

A.g.l. Logistic System S.r.l.

Rovereto (TN) - IT -

03573650177

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

Anixter Italia Srl

97278890153

100,00

 

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

A.g.l. Logistic System S.r.l.

Rovereto - IT -

03573650177

115.000 .Eur

100,00

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

Meda Filippo

, 3

- 20100

- Milano

(MI)

- IT -

 

PHONE

: 02547491

 

FAX

: 0255301777

 

-

Branch

(Administrative office)

since 31/12/2008

 

Walter Tobagi

, 24

- 20068

- Peschiera Borromeo

(MI)

- IT -

 

-

Branch

(Administrative office)

since 31/10/2006

 

Abbiati

, 39

- 25100

- Brescia

(BS)

- IT -

 

-

Branch

(Branch)

since 31/12/2008

 

St.prov.cameri Bellinzago Km 5

- 28062

- Cameri

(NO)

- IT -

 

-

Branch

(Store)

since 01/06/2012

 

Antica Tarsia

, 15

- 42047

- Rolo

(RE)

- IT -

 

-

Branch

(Store)

since 01/07/2014

 

Alle Fornaci

, 34

- 38068

- Rovereto

(TN)

- IT -

 

-

Branch

(office)

since 02/11/2010

 

Orbassano

, 336

- 10100

- Torino

(TO)

- IT -

 

Employees

: 168

 

Fittings and Equipment for a value of 570.000

Eur

 

Stocks for a value of 19.310.000

Eur

 

Trade organization: direct or by agents.

Sales are mainly addressed to Northern Italy

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- direct orders from foreign companies

 

Import comes generally from the following nations:

- France

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited partnership

Limited liability company

26/01/1983

Limited liability company

Joint stock company

30/09/1996

Joint stock company

Sole-Member Limited Liability Company

31/10/2006

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

M.F.U. Srl

Anixter Italia Srl

17/12/2008

 

EX-MEMBERS / EX-POSITIONS:

 

Dul

John Albert

 

Born in Chicago

( )

on 07/03/1961

- Fiscal Code : DLUJNL61C07Z404Z

 

Residence:

Downers Grove4450

Illinois

- IT -

 

Ex-Postions

Director

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Fusa

Emanuela Italia

 

Born in Milano

(MI)

on 05/09/1958

- Fiscal Code : FSUMLT58P45F205Q

 

Residence:

Giovanni Rasori

, 13

- 20145

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Ellis-rees

Hugh James

 

Born in Cirencester

( )

on 03/05/1957

 

Residence:

Crescent Lane

, 55

Londra

- GB -

 

Ex-Postions

Director

 

Walpot

Philippe

 

Born in Waremme

( )

on 20/04/1967

 

Residence:

Hyacinthe Docquier

, 152

Waremme

- BE -

 

Ex-Postions

Procurator

 

Fuster

Patrick

 

Born in Wilrijk

( )

on 05/10/1971

 

Residence:

Vloeyenbergdreef

, 30

Schilde

- BE -

 

Ex-Postions

Procurator

 

Pascoe

Alan George

 

Born in Londra

( )

on 17/08/1953

 

Residence:

Grange Gardens

, 4

Londra

- GB -

 

Ex-Postions

Procurator

 

Geert Rene Leonie

Piron

 

Born in Bonheiden

( )

on 12/08/1971

 

Residence:

Guido Gezellelaan

- 2820

Bonheiden

- BE -

 

Ex-Postions

Procurator

 

Ellis-rees

Hugh James

 

Born in Cirencester

( )

on 03/05/1957

 

Residence:

Crescent Lane

, 55

Londra

- GB -

 

Ex-Postions

Director

 

0RLINI

GIANFRANCO

 

Born in BRESCIA

(BS)

on 16/08/1945

- Fiscal Code : RLNGFR45M16B157Q

 

Residence:

DEL FRANZONE

, 3

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Chairman

 

Orlini

Gianfranco

 

Born in Brescia

(BS)

on 16/08/1945

- Fiscal Code : RLNGFR45M16B157Q

 

Residence:

Del Franzone

, 3

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Chairman

 

Soldi

Milena

 

Born in Monza

(MB)

on 06/06/1966

- Fiscal Code : SLDMLN66H46F704R

 

Residence:

Orsa Minore

, 6

- 20060

Pessano Con Bornago

(MI)

- IT -

 

Ex-Postions

Procurator

 

Foini

Emilio

 

Born in Travagliato

(BS)

on 20/10/1946

- Fiscal Code : FNOMLE46R20L339V

 

Residence:

Dei Mille

, 88

- 25046

Cazzago San Martino

(BS)

- IT -

 

Ex-Postions

Attorney General

 

Vicari

Fabrizio

 

Born in Brescia

(BS)

on 25/08/1969

- Fiscal Code : VCRFRZ69M25B157I

 

Residence:

Antonio Parma

, 12

- 21047

Saronno

(VA)

- IT -

 

Ex-Postions

Procurator

Board Chairman

Director

Managing Director

 

Anglani

Eugenio

 

Born in Ostuni

(BR)

on 24/11/1973

- Fiscal Code : NGLGNE73S24G187E

 

:

P. Custodi

, 6

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Guidi

Andrea

 

Born in Pistoia

(PT)

on 28/08/1970

- Fiscal Code : GDUNDR70M28G713C

 

Residence:

L.da Vinci

, 1/A

- 51018

Pieve a Nievole

(PT)

- IT -

 

Ex-Postions

Procurator

Managing Director

Director

 

Iamoni

Stefano

 

Born in Treviso

(TV)

on 25/11/1963

- Fiscal Code : MNISFN63S25L407U

 

Residence:

Quintino Sella

, 4

- 20121

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Glorioso

Antonio

 

Born in Palermo

(PA)

on 01/02/1961

- Fiscal Code : GLRNTN61B01G273L

 

Residence:

Quintino Sella

, 4

- 20121

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Orlini

Roberto

 

Born in Brescia

(BS)

on 10/10/1954

- Fiscal Code : RLNRRT54R10B157D

 

Residence:

Sguas

, 23

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Director

 

Orlini

Gianfranco

 

Born in Brescia

(BS)

on 16/08/1945

- Fiscal Code : RLNGFR45M16B157Q

 

Residence:

Del Franzone

, 3

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Managing Director

Director

Chairman

 

Gnutti

Enrico

 

Born in Lumezzane

(BS)

on 21/05/1948

- Fiscal Code : GNTNRC48E21E738G

 

Residence:

Ippolito Nievo

, 5

- 25123

Brescia

(BS)

- IT -

 

Ex-Postions

Director

 

Merlini

Ermanno

 

Born in Milano

(MI)

on 02/04/1930

- Fiscal Code : MRLRNN30D02F205B

 

Residence:

Paleocapa Pietro

, 1

- 20121

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Gnutti

Gianfranco

 

Born in Lumezzane

(BS)

on 06/05/1947

- Fiscal Code : GNTGFR47E06E738F

 

Residence:

Ragazzoni

, 21

- 25123

Brescia

(BS)

- IT -

 

Ex-Postions

Director

 

Magnoni

Roberto

 

Born in Milano

(MI)

on 13/11/1963

- Fiscal Code : MGNRRT63S13F205T

 

Residence:

Sabotino

, 19/2

- 20135

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

CEASINGS/INCORPORATIONS/MERGES:

 

Project of merging by taking over of

 

M.f.u. Holding S.r.l.

 

Meda Filippo

, 3

, 20121

, Milano

(MI)

- IT -

 

Fiscal Code: 02543790980

 

Date

Merging/splitting-up project:

19/11/2008

 

The firm absorbed by merging of

 

Anixter Italia Srl

 

Pietro Paleocapa

, 1

, 20121

, Milano

(MI)

- IT -

 

Fiscal Code: 09840520150

 

Date

:

15/12/2008

 

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 1983

The analysis is based on the latest 3 balance sheets.

During the last years the subject suffered net losses and in 2013 r.o.e. is -7,23%.

A loss is registered as to the operating result (-2%).

the operating loss amounts to Eur. -1.466.930.

The economic management produced a gross operating margin of Eur. 2.013.464 on the same levels as the previous financial year.

Company's financial status is balanced since indebtedness is not high (1,17) and falling as against the previous year (1,36).

With regard to equity capital, an amount of Eur. 32.907.811 is registered. , unchanged if compared to 2012.

Total indebtedness totalled Eur. 39.315.297, , a more or less stable value.

The company does not exceed in bank borrowings; the recourse to suppliers' credit is also limited which is within the sector's average.

Payments are supported by good current assets.

Trade credits average terms are slow, on average 134,82 days. besides being higher than the sector's average.

The financial management generated a cash flow of Eur. 881.919.

During 2013 financial year labour costs amounted to Eur. 9.057.241, with a 12,24% incidence on production costs. and a 12,28% incidence on sales volumes.

Financial charges have a limited incidence (-0,21%) on sales volume.

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

73.727.454

Profit (Loss) for the period

-2.378.704

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

77.686.844

Profit (Loss) for the period

-3.116.856

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

87.043.421

Profit (Loss) for the period

-3.148.223

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

73.951.996

Profit (Loss) for the period

2.020.482

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

46.377.354

Profit (Loss) for the period

-12.576.462

 

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.

. . Goodwill

10.871.452

13.589.315

16.307.178

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

577.456

609.355

548.251

. Total Intangible Fixed Assets

11.448.908

14.198.670

16.855.429

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

30.393

2.453

5.321

. . Industrial and commercial equipment

537.810

636.722

443.489

. . Other assets

371.670

392.831

400.519

. . Assets under construction and advances

. Total Tangible fixed assets

939.873

1.032.006

849.329

. FINANCIAL FIXED ASSETS

. . Equity investments

143.331

143.331

143.331

. . . Equity invest. in subsidiary companies

143.269

143.269

143.269

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

62

62

62

. . 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

143.331

143.331

143.331

Total fixed assets

12.532.112

15.374.007

17.848.089

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

19.306.514

22.131.551

26.084.008

. . Advance payments

. Total Inventories

19.306.514

22.131.551

26.084.008

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

35.168.656

41.411.946

48.055.657

. . Beyond 12 months

5.413.074

5.195.049

5.742.047

. . Trade receivables

27.609.955

29.103.721

38.178.480

. . . . Within 12 months

27.609.955

29.103.721

38.178.480

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

12.444

12.342

13.068

. . . . Within 12 months

12.444

12.342

13.068

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

6.452.411

. . . . Within 12 months

6.452.411

. . . . Beyond 12 months

. . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Fiscal Receivables

6.322.831

5.551.542

6.894.281

. . . . Within 12 months

1.012.016

516.457

1.235.021

. . . . Beyond 12 months

5.310.815

5.035.085

5.659.260

. . Receivables for anticipated taxes

1.937.602

2.406.450

1.666.961

. . . . Within 12 months

1.937.602

2.406.450

1.666.961

. . . . Beyond 12 months

. . Receivables due from third parties

4.698.898

9.532.940

592.503

. . . . Within 12 months

4.596.639

9.372.976

509.716

. . . . Beyond 12 months

102.259

159.964

82.787

. Total Credits not held as fixed assets

40.581.730

46.606.995

53.797.704

. 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

669.590

112.284

1.618.060

. . Checks

. . Banknotes and coins

1.800

4.231

7.702

. Total Liquid funds

671.390

116.515

1.625.762

Total current assets

60.559.634

68.855.061

81.507.474

ADJUSTMENT ACCOUNTS

. Discount on loans

221.863

. Other adjustment accounts

173.569

126.836

Total adjustments accounts

221.863

173.569

126.836

TOTAL ASSETS

73.313.609

84.402.637

99.482.399

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

1.092.000

1.092.000

1.092.000

. Additional paid-in capital

. Revaluation reserves

1.082.674

1.082.674

1.082.674

. Legal reserve

253.494

253.494

253.494

. Reserve for Own shares

. Statute reserves

. Other reserves

32.858.347

35.975.204

34.123.425

. Accumulated Profits (Losses)

. Profit( loss) of the year

-2.378.704

-3.116.856

-3.148.223

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

32.907.811

35.286.516

33.403.370

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

1.793

780

7.636

. . Other funds

374.837

459.147

104.571

Total Reserves for Risks and Charges

376.630

459.927

112.207

Employee termination indemnities

613.824

660.884

774.293

ACCOUNTS PAYABLE

. . . . Within 12 months

39.315.297

47.949.748

50.321.413

. . . . Beyond 12 months

14.856.970

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to banks

18.721.882

133.576

953.773

. . . . Within 12 months

18.721.882

133.576

953.773

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

53.539

. . . . Within 12 months

53.539

. . . . Beyond 12 months

. . Trade payables

14.047.928

12.901.582

22.459.189

. . . . Within 12 months

14.047.928

12.901.582

22.459.189

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

430.745

465.783

309.433

. . . . Within 12 months

430.745

465.783

309.433

. . . . Beyond 12 months

. . Due to associated companies

26.734.052

. . . . Within 12 months

23.377.082

. . . . Beyond 12 months

3.356.970

. . Due to holding companies

28.677

6.845.821

12.929.972

. . . . Within 12 months

28.677

6.845.821

1.429.972

. . . . Beyond 12 months

11.500.000

. . Due to the tax authorities

177.990

380.842

200.066

. . . . Within 12 months

177.990

380.842

200.066

. . . . Beyond 12 months

. . Due to social security and welfare inst.

668.355

541.372

528.754

. . . . Within 12 months

668.355

541.372

528.754

. . . . Beyond 12 months

. . Other payables

5.239.720

26.627.233

1.063.144

. . . . Within 12 months

5.239.720

26.627.233

1.063.144

. . . . Beyond 12 months

Total accounts payable

39.315.297

47.949.748

65.178.383

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

100.047

45.562

14.146

Total adjustment accounts

100.047

45.562

14.146

TOTAL LIABILITIES

73.313.609

84.402.637

99.482.399

 

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

73.727.454

77.686.844

87.043.421

. Changes in work in progress

-2.949.641

-4.026.987

208.269

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

1.726.396

1.972.845

1.770.147

. . Contributions for operating expenses

. . Different income and revenues

1.726.396

1.972.845

1.770.147

Total value of production

72.504.209

75.632.702

89.021.837

PRODUCTION COSTS

. Raw material,other materials and consum.

50.427.285

52.794.286

63.344.795

. Services received

10.020.588

12.844.204

. Leases and rentals

10.384.583

1.741.497

1.658.516

. Payroll and related costs

9.057.241

8.302.161

8.147.077

. . Wages and salaries

6.629.065

6.026.612

5.872.544

. . Social security contributions

2.039.833

1.881.422

1.884.351

. . Employee termination indemnities

371.943

381.355

378.516

. . Pension and similar

. . Other costs

16.400

12.772

11.666

. Amortization and depreciation

3.260.623

3.706.937

3.578.896

. . Amortization of intangible fixed assets

2.807.449

2.910.243

2.959.311

. . Amortization of tangible fixed assets

293.688

343.760

373.245

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

159.486

452.934

246.340

. Changes in raw materials

. Provisions to risk reserves

. Other provisions

219.771

394.034

73.368

. Other operating costs

621.636

577.895

591.262

Total production costs

73.971.139

77.537.398

90.238.118

Diff. between value and cost of product.

-1.466.930

-1.904.696

-1.216.281

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

5.664

9.600

27.246

. . 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

5.664

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

5.664

. Interest and other financial expense

-158.125

-1.023.211

-1.414.611

. . Towards subsidiary companies

-21.048

. . Towards associated companies

. . Towards holding companies

-26.675

. . Towards other companies

158.125

Total financial income and expense

-152.461

-1.013.611

-1.387.365

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

. . Gains on disposals

. . Other extraordinary income

. Extraordinary expense

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

Total extraordinary income and expense

Results before income taxes

-1.619.391

-2.918.307

-2.603.646

. Taxes on current income

759.313

198.549

544.577

. . current taxes

289.455

944.892

499.232

. . differed taxes(anticip.)

469.858

-746.343

45.345

. Net income for the period

-2.378.704

-3.116.856

-3.148.223

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-2.378.704

-3.116.856

-3.148.223

 

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

0,17

0,18

0,18

0,21

Elasticity Ratio

Units

0,83

0,82

0,82

0,76

Availability of stock

Units

0,26

0,26

0,26

0,19

Total Liquidity Ratio

Units

0,56

0,55

0,56

0,51

Quick Ratio

Units

0,01

0,00

0,02

0,02

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,17

1,36

1,46

2,54

Self Financing Ratio

Units

0,45

0,42

0,34

0,22

Capital protection Ratio

Units

1,04

1,06

1,06

0,70

Liabilities consolidation quotient

Units

0,02

0,01

0,31

0,17

Financing

Units

1,19

1,36

1,95

3,18

Permanent Indebtedness Ratio

Units

0,46

0,43

0,49

0,37

M/L term Debts Ratio

Units

0,01

0,01

0,16

0,09

Net Financial Indebtedness Ratio

Units

0,55

0,00

0,00

0,79

CORRELATION

Fixed assets ratio

Units

2,67

2,34

2,75

1,53

Current ratio

Units

1,54

1,44

1,62

1,23

Acid Test Ratio-Liquidity Ratio

Units

1,05

0,97

1,10

0,88

Structure's primary quotient

Units

2,63

2,30

1,87

1,13

Treasury's primary quotient

Units

0,02

0,00

0,03

0,04

Rate of indebtedness ( Leverage )

%

222,78

239,19

297,82

441,14

Current Capital ( net )

Value

21.244.337

20.905.313

31.186.061

566.734

RETURN

Return on Sales

%

1,20

0,76

0,49

3,14

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

%

-7,23

-8,83

-9,42

5,23

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

%

-4,92

-8,27

-7,79

15,42

Return on Investment ( R.O.I. )

%

-2,00

-2,26

-1,22

4,76

Return/ Sales

%

-1,99

-2,45

-1,40

3,64

Extra Management revenues/charges incid.

%

n.c.

n.c.

n.c.

31,97

Cash Flow

Value

881.919

590.081

430.673

208.442

Operating Profit

Value

-1.466.930

-1.904.696

-1.216.281

255.976

Gross Operating Margin

Value

2.013.464

2.196.275

2.435.983

435.519

MANAGEMENT

Credits to clients average term

Days

134,82

134,87

157,90

90,12

Debts to suppliers average term

Days

85,88

112,72

288,72

92,64

Average stock waiting period

Days

94,27

102,56

107,88

43,64

Rate of capital employed return ( Turnover )

Units

1,01

0,92

0,87

1,35

Rate of stock return

Units

3,82

3,51

3,34

8,24

Labour cost incidence

%

12,28

10,69

9,36

11,15

Net financial revenues/ charges incidence

%

-0,21

-1,30

-1,59

-1,06

Labour cost on purchasing expenses

%

12,24

10,71

9,03

11,97

Short-term financing charges

%

0,40

2,13

2,17

3,42

Capital on hand

%

99,44

108,64

114,29

73,98

Sales pro employee

Value

260.521

482.526

547.442

281.236

Labour cost pro employee

Value

32.004

51.566

51.239

33.651

 

Remarks

 

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

 

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

 

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

 

 

Market / Territory Data

 

Population living in the province

:

3.839.216

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 158 significant companies.

The companies cash their credits on an average of 90 dd.

The average duration of suppliers debts is about 93 dd.

The sector's profitability is on an average of 3,14%.

The labour cost affects the turnover in the measure of 11,15%.

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

The difference between the sales volume and the resources used to realize it is about 1,35.

The employees costs represent the 11,97% of the production costs.

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 24.765.

The insolvency index for the region is 0,55, , while for the province it is 0,66.

Total Bankrupt companies in the province : 22.523.

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.93.18

Euro

1

Rs.69.82

 

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

--

 

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.