MIRA INFORM REPORT

 

 

Report No. :

320404

Report Date :

05.05.2015

 

IDENTIFICATION DETAILS

 

Name :

INOX MARE SRL

 

 

Registered Office :

Via Pomposa, 51/I 47924 – Rimini (RN) – IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

13.12.1999

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :
  • Retail sale of household utensils, crystal and glassware
  • Retail sale of games and toys in specialised stores

 

 

No of Employees :

from 71 to 90

           

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Italy

A2

A1

 

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 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 132% of GDP in 2014, 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 tax evasion. In 2014 economic growth and labor market conditions continued to deteriorate, with overall unemployment rising to 12.2% and youth unemployment around 40%. Italy's GDP is now nearly 10% below its 2007 pre-crisis level.

 

Source : CIA

 

Company name & address

 

Inox Mare Srl

 

Via

Pomposa,

51/I

 

47924

- Rimini

(RN)

-IT-

 

 

Summary

 

Fiscal Code

:

02980000232

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

13/12/1999

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 71 to 90

 

 

Activity

 

Retail sale of household utensils, crystal and glassware

Retail sale of games and toys in specialised stores

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 02980000232

 

Foreign Trade Reg. no. : 043632 of Verona since 30/05/2000

 

Chamber of Commerce no. : 465405 of Bologna

 

Chamber of Commerce no. : 277754 of Rimini since 02/10/2000

 

Chamber of Commerce no. : 299505 of Verona since 05/11/1999

 

Firms' Register : RN-2000-22683 of Rimini since 02/10/2000

 

Firms' Register : VR-1999-62074 of Verona since 19/11/1999

 

V.A.T. Code : 03155230406

 

Establishment date

: 27/09/1999

Start of Activities

: 13/12/1999

Legal duration

: 31/12/2100

Nominal Capital

: 26.000

Subscribed Capital

: 26.000

Paid up Capital

: 26.000

 

Legal mail :

INOXMARE@POSTECERT.IT

 

 

Members

 

S.c.a.r. Srl

 

 

Residence:

Caduti Sul Lavoro

, 25

- 37012

Bussolengo

(VR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

27/09/1999

 

No Prejudicial events are reported

 

No Protests registered

 

Reconta Ernst E Young S.p.a.

 

 

Residence:

Po

, 32

- 00198

Roma

(RM)

- IT -

 

Position

Since

Shares Amount

% Ownership

Auditor

25/07/2014

 

Gschnell

Helmut

 

Born in Caldaro sulla Strada del Vino

(BZ)

on 05/07/1944

- Fiscal Code : GSCHMT44L05B397Q

 

Residence:

Via Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

27/09/1999

Director

27/09/1999

Managing Director

25/10/2002

 

No Prejudicial events are reported

 

No Protests registered

 

Steiner

Ulrich

 

Born in Bolzano

(BZ)

on 06/02/1965

- Fiscal Code : STNLCH65B06A952K

 

Residence:

Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/09/1999

Managing Director

25/10/2002

 

No Prejudicial events are reported

 

No Protests registered

 

Tait

Luigi

 

Born in Bolzano

(BZ)

on 11/07/1957

- Fiscal Code : TTALGU57L11A952G

 

Residence:

Don G.verita'

, 37

- 47039

Savignano sul Rubicone

(FO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney General

05/11/2002

Director

14/12/2006

 

No Prejudicial events are reported

 

No Protests registered

 

S.c.a.r. Srl

 

 

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.

 

S.c.a.r. Srl

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Hsr Italia S.r.l.

Verona (VR) - IT -

03315430235

Sole partner

Active

Registered

 

Gschnell

Helmut

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Masidef Srl

Caronno Pertusella (VA) - IT -

00819130154

Managing Director

Active

Registered

Masidef Srl

Caronno Pertusella (VA) - IT -

00819130154

Director

Active

Registered

Masidef Srl

Caronno Pertusella (VA) - IT -

00819130154

Board Chairman

Active

Registered

Recabe Srl

Egna (BZ) - IT -

00126720218

Managing Director

Withdrawn

Registered

Recabe Srl

Egna (BZ) - IT -

00126720218

Director

Withdrawn

Registered

Recabe Srl

Egna (BZ) - IT -

00126720218

Managing Director

Withdrawn

Registered

Recabe Srl

Egna (BZ) - IT -

00126720218

Board Chairman

Withdrawn

Registered

F.i.m.e. S.r.l.

Belfiore (VR) - IT -

00799140231

Managing Director

Active

Registered

F.i.m.e. S.r.l.

Belfiore (VR) - IT -

00799140231

Board Chairman

Active

Registered

GEIER - GABALIN SRL

Termeno sulla Strada del Vino (BZ) - IT -

00121050215

Board Chairman

Withdrawn

Registered

Wuerth S.r.l. - G.m.b.h.

Egna (BZ) - IT -

00125230219

Managing Director

Withdrawn

Registered

Wuerth S.r.l. - G.m.b.h.

Egna (BZ) - IT -

00125230219

Director

Active

Registered

Reca Italia S.r.l.

Arcole (VR) - IT -

02065460236

Managing Director

Active

Registered

Reca Italia S.r.l.

Arcole (VR) - IT -

02065460236

Board Chairman

Withdrawn

Registered

Unifix Swg Srl

Terlano (BZ) - IT -

00605470210

Managing Director

Active

Registered

Unifix Swg Srl

Terlano (BZ) - IT -

00605470210

Board Chairman

Active

Registered

S.c.a.r. Srl

Bussolengo (VR) - IT -

00353240237

Director

Active

Registered

S.c.a.r. Srl

Bussolengo (VR) - IT -

00353240237

Managing Director

Active

Registered

S.c.a.r. Srl

Bussolengo (VR) - IT -

00353240237

Board Chairman

Withdrawn

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Director

Active

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Powers by soc.contr.and by-laws

Active

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Legal Owners' representative

Active

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Board Chairman

Active

Registered

Wuerth Phoenix Srl

Bolzano (BZ) - IT -

01054690217

Director

Active

Registered

Fink S.r.l. - G.m.b.h.

Termeno sulla Strada del Vino (BZ) - IT -

01954940233

Director

Withdrawn

Registered

Fink S.r.l. - G.m.b.h.

Termeno sulla Strada del Vino (BZ) - IT -

01954940233

Powers by soc.contr.and by-laws

Withdrawn

Registered

Baier E Michels S.r.l.

Padova (PD) - IT -

02480890280

Director

Withdrawn

Registered

Baier E Michels S.r.l.

Padova (PD) - IT -

02480890280

Managing Director

Withdrawn

Registered

Baier E Michels S.r.l.

Padova (PD) - IT -

02480890280

Board Chairman

Withdrawn

Registered

Cassa Di Risparmio Di Bolzano S.p.a.

Bolzano (BZ) - IT -

00152980215

Director

Withdrawn

Registered

Modyf Srl

Termeno sulla Strada del Vino (BZ) - IT -

01652980218

Board Chairman

Withdrawn

Registered

Gschnell Helmut

Termeno sulla Strada del Vino (BZ) - IT -

Proprietor

Withdrawn

Registered

Gpa Wide Group S.r.l.

Milano (MI) - IT -

03214330106

Director

Withdrawn

Registered

Tunap Italia Srl

Terlano (BZ) - IT -

01666530215

Managing Director

Withdrawn

Registered

Tunap Italia Srl

Terlano (BZ) - IT -

01666530215

Director

Active

Registered

Gpa Wide Technology S.p.a.

Milano (MI) - IT -

03201670100

Director

Withdrawn

Registered

Sidercres S.r.l.

Bologna (BO) - IT -

01827291202

Director

Withdrawn

Ceased

Sidercres S.r.l.

Bologna (BO) - IT -

01827291202

Board Chairman

Withdrawn

Ceased

Gschnell Helmut

Termeno sulla Strada del Vino (BZ) - IT -

GSCHMT44L05B397Q

Proprietor

Active

Registered

Pianeta S S.r.l. In Liquidazione

Bussolengo (VR) - IT -

03114870235

Director

Withdrawn

Registered

Pianeta S S.r.l. In Liquidazione

Bussolengo (VR) - IT -

03114870235

Board Chairman

Withdrawn

Registered

Wuerth Elektronik Italia S.r.l.

Cormano (MI) - IT -

01257400992

Director

Withdrawn

Registered

Wuerth Elektronik Italia S.r.l.

Cormano (MI) - IT -

01257400992

Board Chairman

Active

Registered

Wuerth Solar Italia S.r.l.

Terlano (BZ) - IT -

04211200284

Director

Withdrawn

Registered

Glessdox Srl

Termeno sulla Strada del Vino (BZ) - IT -

02290660212

Managing Director

Active

Registered

Glessdox Srl

Termeno sulla Strada del Vino (BZ) - IT -

02290660212

Director

Active

Registered

Safepont Srl

Termeno sulla Strada del Vino (BZ) - IT -

02330080215

Managing Director

Withdrawn

Registered

Safepont Srl

Termeno sulla Strada del Vino (BZ) - IT -

02330080215

Board Chairman

Withdrawn

Registered

Marbet Marion E Bettina Wuerth Srl In LiQuidazione

Egna (BZ) - IT -

03274120231

Managing Director

Withdrawn

Registered

Marbet Marion E Bettina Wuerth Srl In LiQuidazione

Egna (BZ) - IT -

03274120231

Director

Withdrawn

Registered

Wuerth Leasing Italia Srl

Egna (BZ) - IT -

02368320210

Managing Director

Active

Registered

Wuerth Leasing Italia Srl

Egna (BZ) - IT -

02368320210

Director

Active

Registered

Hsr Italia S.r.l.

Verona (VR) - IT -

03315430235

Director

Active

Registered

Hsr Italia S.r.l.

Verona (VR) - IT -

03315430235

Board Chairman

Active

Registered

Wehr Srl

Bolzano (BZ) - IT -

02369140211

Director

Withdrawn

Ceased

Viterie Venete Srl

Monselice (PD) - IT -

04011730282

Director

Withdrawn

Registered

Viterie Venete Srl

Monselice (PD) - IT -

04011730282

Managing Director

Withdrawn

Registered

Viterie Venete Srl

Monselice (PD) - IT -

04011730282

Board Chairman

Withdrawn

Registered

 

Steiner

Ulrich

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Inox Tirrenica Srl

Fiumicino (RM) - IT -

03806611004

Managing Director

Active

Registered

Inox Tirrenica Srl

Fiumicino (RM) - IT -

03806611004

Assistant board Chairman

Active

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Managing Director

Active

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Director

Active

Registered

Spinelli Srl

Terlano (BZ) - IT -

00610540213

Legal Owners' representative

Active

Registered

 

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

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



Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

S.c.a.r. Srl

Bussolengo - IT -

00353240237

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

Inox Tirrenica Srl

Fiumicino - IT -

03806611004

52.000 .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

 

Pomposa

, 51/I

- 47037

- Rimini

(RN)

- IT -

 

Total Surface: 22 Sq.mt.

 

PHONE

: 0541794317

 

Legal mail

: INOXMARE@POSTECERT.IT

 

-

Branch

(Warehouse)

since 01/07/2007

 

Cassoletta

, 20

- 40053

- Valsamoggia

(BO)

- IT -

 

Employees

: 86

 

Fittings and Equipment for a value of 230.000

Eur

 

Stocks for a value of 10.610.000

Eur

 

Trade organization: direct or by agents.

Sales converge to North and Central Italy.

 

Import comes generally from the following nations:

- Germany

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Gschnell

Helmut

 

Born in Caldaro sulla Strada del Vino

(BZ)

on 05/07/1944

- Fiscal Code : GSCHMT44L05B397Q

 

Residence:

Via Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Ex-Postions

Managing Director

Board Chairman

Managing Director

 

Hartmann

Karl

 

Born in Terlano

(BZ)

on 04/11/1927

- Fiscal Code : HRTKRL27S04L108K

 

Residence:

Roen

, 21

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Permanent Auditor

 

Steiner

Ulrich

 

Born in Bolzano

(BZ)

on 06/02/1965

- Fiscal Code : STNLCH65B06A952K

 

Residence:

Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Ex-Postions

Managing Director

 

S.c.a.r. Srl

 

- Fiscal Code : 00353240237

 

Ex-Postions

Partner

Partner

 

HORST

SEEBACHER

 

Born in BOLZANO

(BZ)

on 09/02/1965

- Fiscal Code : HRSSCH65B09A952S

 

Residence:

MOLINO

, 5

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Director

 

SARACINO

PINUCCIO

 

Born in BOLZANO

(BZ)

on 12/02/1958

- Fiscal Code : SRCPCC58B12B397N

 

Residence:

CAPRI

, 32/20

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Managing Director

Institor

Person in charge

Managing Director

Director

 

Holzeisen

Renate

 

Born in Bolzano

(BZ)

on 10/09/1966

- Fiscal Code : HLZRNT66P50A952M

 

Residence:

Via Fago

, 23/5

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Temporary Auditor

 

Sandrini

Stefan

 

Born in Bolzano

(BZ)

on 22/04/1959

- Fiscal Code : SNDSFN59D22A952N

 

Residence:

Silberleiten

, 30

- 39018

Terlano

(BZ)

- IT -

 

Ex-Postions

Permanent Auditor

Temporary Auditor

 

Zago

Claudio

 

Born in Bolzano

(BZ)

on 28/01/1961

- Fiscal Code : ZGACLD61A28A962F

 

Residence:

Lungo Talvera S. Quirino

, 4

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Permanent Auditor

 

Teutsch

Werner

 

Born in Bolzano

(BZ)

on 02/07/1951

- Fiscal Code : TTSWNR51L02A952C

 

Residence:

Cappuccini

, 8

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Temporary Auditor

 

Ueberbacher

Guenther

 

Born in Bressanone

(BZ)

on 26/06/1947

- Fiscal Code : BRBGTH47H26B160Y

 

Residence:

Via Beato Arrigo

, 2

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Temporary Auditor

 

Acerbi

Giovanni

 

Born in Vicenza

(VI)

on 11/03/1966

- Fiscal Code : CRBGNN66C11L840T

 

Residence:

Napoli

, 66

- 36100

Vicenza

(VI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Magnani

Roberto

 

Born in Reggio Emilia

(RE)

on 24/03/1943

- Fiscal Code : MGNRRT43C24H223H

 

Residence:

Casale

, 78/E

- 47826

Verucchio

(RN)

- IT -

 

Ex-Postions

Managing Director

Director

 

Seebacher

Anton

 

Born in Terlano

(BZ)

on 16/04/1935

- Fiscal Code : SBCNTN35D16L108T

 

Residence:

Via Rio Molino

, 5

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Permanent Auditor



Protests

 

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

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

 

Legal Procedures

 

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

 

Financial and Economical Analysis

 

Company's starting of activities dates back to 1999.

The analysis is based on the latest 3 balance sheets.

Under the financial profile unstable results are noted. with a negative economic result in the last financial year. In the last financial year a drop in sales has been registered (-7,42%).

The operating result is negative.

The operating result is negative (Eur. -3.263.323).

The G.O.M. amounted to Eur. 1.451.939 stable if compared to the financial year 2012.

The company has an excellent net worth if compared to its debts, with a low indebtedness (0,65) lower than in 2012.

The management generated equity capital for an amount of Eur. 8.463.351 with a -22,52% fall.

In the year 2013 total debts amounted to Eur. 8.493.293 as opposed to Eur. 12.067.128 in 2012, with a decrease equal to -29,61%.

Bank exsposure is limited and the suppliers' credit is modest too, 18,15 gg. is the payment average period below field's average.

The management determines a good range of liquidity.

Trade credits average terms are 55,75 days. , a value lower than the sector's average.

Managerial cash flow has a minus sign and is equal to Eur. -1.745.937.

During 2013 financial year labour costs amounted to Eur. 3.152.777, with a 6,01% incidence on production costs. , whereas the incidence on sales revenues is of 6,48%.

The financial management is positive as incomes are higher than the charges.

 

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

48.628.660

Profit (Loss) for the period

-2.161.199

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

52.527.175

Profit (Loss) for the period

715.338

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

50.372.024

Profit (Loss) for the period

456.823

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

44.527.211

Profit (Loss) for the period

2.232.147

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

22.529.059

Profit (Loss) for the period

-46.270

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.

51.453

8.481

23.728

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

349.655

421.516

493.378

. Total Intangible Fixed Assets

401.108

429.997

517.106

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

. . Industrial and commercial equipment

228.493

389.640

543.203

. . Other assets

213.540

238.713

228.179

. . Assets under construction and advances

. Total Tangible fixed assets

442.033

628.353

771.382

. FINANCIAL FIXED ASSETS

. . Equity investments

61.551

61.552

61.552

. . . Equity invest. in subsidiary companies

61.551

61.552

61.552

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

. . 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

61.551

61.552

61.552

Total fixed assets

904.692

1.119.902

1.350.040

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

9.136.532

11.393.070

9.023.114

. . Advance payments

1.470.304

503.681

1.697.590

. Total Inventories

10.606.836

11.896.751

10.720.704

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

10.025.536

10.263.482

9.699.223

. . Beyond 12 months

38.267

. . Trade receivables

7.530.758

7.871.927

7.111.686

. . . . Within 12 months

7.530.758

7.871.927

7.111.686

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

11.390

9.750

. . . . Within 12 months

11.390

9.750

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

159.141

320.590

519.332

. . . . Within 12 months

159.141

320.590

519.332

. . . . Beyond 12 months

. . Fiscal Receivables

276.254

1.313.822

999.561

. . . . Within 12 months

276.254

1.313.822

999.561

. . . . Beyond 12 months

. . Receivables for anticipated taxes

1.592.724

448.933

597.109

. . . . Within 12 months

1.592.724

448.933

558.842

. . . . Beyond 12 months

38.267

. . Receivables due from third parties

455.269

308.210

500.052

. . . . Within 12 months

455.269

308.210

500.052

. . . . Beyond 12 months

. Total Credits not held as fixed assets

10.025.536

10.263.482

9.737.490

. 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

21.248

16.448

23.887

. . Checks

. . Banknotes and coins

546

1.054

1.269

. Total Liquid funds

21.794

17.502

25.156

Total current assets

20.654.166

22.177.735

20.483.350

ADJUSTMENT ACCOUNTS

. Discount on loans

. Other adjustment accounts

32.662

35.208

17.193

Total adjustments accounts

32.662

35.208

17.193

TOTAL ASSETS

21.591.520

23.332.845

21.850.583

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

26.000

26.000

26.000

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

5.200

5.200

5.200

. Reserve for Own shares

. Statute reserves

. Other reserves

10.593.350

10.178.012

10.301.188

. Accumulated Profits (Losses)

. Profit( loss) of the year

-2.161.199

715.338

456.823

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

8.463.351

10.924.550

10.789.211

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

4.363.516

73.916

73.916

. . Other funds

27.499

26.797

7.028

Total Reserves for Risks and Charges

4.391.015

100.713

80.944

Employee termination indemnities

135.156

134.201

144.437

ACCOUNTS PAYABLE

. . . . Within 12 months

5.493.293

12.067.128

10.737.959

. . . . Beyond 12 months

3.000.000

. . 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

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

. . . . Within 12 months

. . . . Beyond 12 months

. . Trade payables

2.126.646

3.362.793

2.513.406

. . . . Within 12 months

2.126.646

3.362.793

2.513.406

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

8.745

. . . . Within 12 months

8.745

. . . . Beyond 12 months

. . Due to associated companies

7.966.252

. . . . Within 12 months

7.966.252

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

74.835

76.841

75.728

. . . . Within 12 months

74.835

76.841

75.728

. . . . Beyond 12 months

. . Due to social security and welfare inst.

146.701

133.512

148.805

. . . . Within 12 months

146.701

133.512

148.805

. . . . Beyond 12 months

. . Other payables

6.145.111

8.485.237

33.768

. . . . Within 12 months

3.145.111

8.485.237

33.768

. . . . Beyond 12 months

3.000.000

Total accounts payable

8.493.293

12.067.128

10.737.959

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

108.705

106.253

98.032

Total adjustment accounts

108.705

106.253

98.032

TOTAL LIABILITIES

21.591.520

23.332.845

21.850.583

 

 

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

48.628.660

52.527.175

50.372.024

. Changes in work in progress

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

538.359

844.830

484.614

. . Contributions for operating expenses

10.192

9.601

5.165

. . Different income and revenues

528.167

835.229

479.449

Total value of production

49.167.019

53.372.005

50.856.638

PRODUCTION COSTS

. Raw material,other materials and consum.

38.687.165

47.208.145

42.716.530

. Services received

3.160.530

3.599.246

3.116.718

. Leases and rentals

333.221

324.842

316.640

. Payroll and related costs

3.152.777

2.919.926

2.895.884

. . Wages and salaries

2.270.007

2.086.222

2.073.645

. . Social security contributions

723.185

689.205

664.322

. . Employee termination indemnities

159.585

144.499

157.917

. . Pension and similar

. . Other costs

. Amortization and depreciation

415.262

505.663

389.524

. . Amortization of intangible fixed assets

104.217

90.714

89.946

. . Amortization of tangible fixed assets

256.331

278.221

273.904

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

54.714

136.728

25.674

. Changes in raw materials

2.256.537

-2.369.956

287.582

. Provisions to risk reserves

4.300.000

18.710

. Other provisions

. Other operating costs

124.850

77.651

144.816

Total production costs

52.430.342

52.284.227

49.867.694

Diff. between value and cost of product.

-3.263.323

1.087.778

988.944

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

300.000

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

18.166

63.963

53.165

. . 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

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

. Interest and other financial expense

-228.616

-210.390

-247.965

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

Total financial income and expense

89.550

-146.427

-194.800

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

138.428

. . Gains on disposals

. . Other extraordinary income

138.428

. Extraordinary expense

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

Total extraordinary income and expense

138.428

Results before income taxes

-3.173.773

1.079.779

794.144

. Taxes on current income

-1.012.574

364.441

337.321

. . current taxes

131.217

216.266

514.814

. . differed taxes(anticip.)

-1.143.791

148.175

-177.493

. Net income for the period

-2.161.199

715.338

456.823

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-2.161.199

715.338

456.823

 

 

Ratios

 

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

0,04

0,05

0,06

0,09

Elasticity Ratio

Units

0,96

0,95

0,94

0,89

Availability of stock

Units

0,49

0,51

0,49

0,26

Total Liquidity Ratio

Units

0,47

0,44

0,45

0,54

Quick Ratio

Units

0,00

0,00

0,00

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,65

1,10

0,99

3,95

Self Financing Ratio

Units

0,39

0,47

0,49

0,17

Capital protection Ratio

Units

1,25

0,93

0,96

0,62

Liabilities consolidation quotient

Units

0,57

0,01

0,01

0,10

Financing

Units

1,00

1,10

1,00

4,85

Permanent Indebtedness Ratio

Units

0,54

0,47

0,50

0,29

M/L term Debts Ratio

Units

0,15

0,01

0,01

0,07

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

1,04

CORRELATION

Fixed assets ratio

Units

12,82

9,87

8,10

2,37

Current ratio

Units

3,76

1,84

1,91

1,18

Acid Test Ratio-Liquidity Ratio

Units

1,83

0,85

0,91

0,80

Structure's primary quotient

Units

9,35

9,75

7,99

1,48

Treasury's primary quotient

Units

0,00

0,00

0,00

0,04

Rate of indebtedness ( Leverage )

%

255,12

213,58

202,52

602,26

Current Capital ( net )

Value

15.160.873

10.110.607

9.745.391

191.984

RETURN

Return on Sales

%

-3,59

2,32

1,68

2,03

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

%

-25,54

6,55

4,23

6,31

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

%

-37,50

9,88

7,36

17,00

Return on Investment ( R.O.I. )

%

-15,11

4,66

4,53

4,18

Return/ Sales

%

-6,71

2,07

1,96

3,46

Extra Management revenues/charges incid.

%

n.c.

65,76

46,19

27,96

Cash Flow

Value

-1.745.937

1.221.001

846.347

44.823

Operating Profit

Value

-3.263.323

1.087.778

988.944

74.603

Gross Operating Margin

Value

1.451.939

1.612.151

1.378.468

111.383

MANAGEMENT

Credits to clients average term

Days

55,75

53,95

50,83

113,70

Debts to suppliers average term

Days

18,15

23,74

81,75

118,14

Average stock waiting period

Days

78,52

81,54

76,62

72,90

Rate of capital employed return ( Turnover )

Units

2,25

2,25

2,31

1,25

Rate of stock return

Units

4,58

4,42

4,70

4,88

Labour cost incidence

%

6,48

5,56

5,75

8,14

Net financial revenues/ charges incidence

%

0,18

-0,28

-0,39

-1,38

Labour cost on purchasing expenses

%

6,01

5,58

5,81

8,25

Short-term financing charges

%

2,69

1,74

2,31

2,76

Capital on hand

%

44,40

44,42

43,38

79,85

Sales pro employee

Value

578.912

640.575

649.961

397.742

Labour cost pro employee

Value

37.533

35.608

37.366

33.267

 

 

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

:

286.796

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 9.175 significant companies.

 

The companies cash their credits on an average of 114 dd.

The average duration of suppliers debts is about 118 dd.

The sector's profitability is on an average of 2,03%.

The labour cost affects the turnover in the measure of 8,14%.

Goods are held in stock in a range of 73 dd.

The difference between the sales volume and the resources used to realize it is about 1,25.

The employees costs represent the 8,25% of the production costs.

 

Statistical Detrimental Data

 

Statistically the trade activity shows periods of crisis.

The area is statistically considered moderately risky.

In the region 18.860 protested subjects are found; in the province they count to 2.270.

The insolvency index for the region is 0,46, , while for the province it is 0,81.

Total Bankrupt companies in the province : 749.

Total Bankrupt companies in the region : 14.698.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.57

UK Pound

1

Rs. 97.98

Euro

1

Rs. 70.53

 

INFORMATION DETAILS

 

Analysis Done by :

RSM

 

 

Report Prepared by :

DPT

 

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.