MIRA INFORM REPORT

 

 

Report No. :

348182

Report Date :

06.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SPACE 2000 S.P.A.

 

 

Registered Office :

Piazza Carlo Emanuele Ii,13  - Torino  (TO)

 

 

Country :

Italy

 

 

Financials (as on) :

30.04.2014

 

 

Date of Incorporation :

12.07.1988

 

 

Legal Form :

Joint stock company

 

 

Line of Business :
  • Various manufacture and accessories for apparel
  • Wholesale of clothing and accessories
  • Retail sale of clothing in specialised stores

 

 

No. of Employee :

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Italy

A1

A1

 

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 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 and address

 

SPACE 2000 S.P.A.

 

Piazza Carlo Emanuele Ii,13  - Torino  (TO)-IT-

 

 

 

Summary

 

Fiscal Code

:

05414420017

Legal Form

:

Joint stock company

start of Activities

:

12/07/1988

Equity

:

Over 2.582.254

Turnover Range

:

20.000.000/25.000.000

Number of Employees

:

from 71 to 90

 

 

Activity

 

Various manufacture and accessories for apparel

Wholesale of clothing and accessories

Retail sale of clothing in specialised stores

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 05414420017

 

Foreign Trade Reg. no. : TO028521 since 21/01/1992

 

Chamber of Commerce no. : 232069 of Alessandria

 

Chamber of Commerce no. : 73403 of Aosta

 

Chamber of Commerce no. : 511389 of Bologna

 

Chamber of Commerce no. : 256623 of Caserta

 

Chamber of Commerce no. : 64756 of Enna

 

Chamber of Commerce no. : 1961379 of Milano

 

Chamber of Commerce no. : 253366 of Mantova

 

Chamber of Commerce no. : 224904 of Novara

 

Chamber of Commerce no. : 1183755 of Roma

 

Chamber of Commerce no. : 711365 of Torino since 01/03/1988

 

Chamber of Commerce no. : 268180 of Udine

 

Chamber of Commerce no. : 366062 of Venezia

 

Firms' Register : TO272-1987-5528 of Torino since 19/02/1996

 

V.A.T. Code : 05414420017

 

Foundation date

: 25/11/1987

Establishment date

: 25/11/1987

Start of Activities

: 12/07/1988

Legal duration

: 31/12/2025

Nominal Capital

: 3.810.469

Subscribed Capital

: 3.810.469

Paid up Capital

: 3.810.469

 

Legal mail :

SPACE2000@PECSOCI.UI.TORINO.IT

 

 

Members

 

Igloo S.r.l.

 

 

:

Carlo Emanuele Ii

, 13

- 10123

Torino

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Musso

Manuele Maria

 

Born in Castellamonte

(TO)

on 19/01/1973

- Fiscal Code : MSSMLM73A19C133B

 

Residence:

Tenente Morello

, 19

- 10081

Castellamonte

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Manager on duty

Managing Director

27/12/2012

Director

27/12/2012

 

No Prejudicial events are reported

 

No Protests registered

 

Musso

Cristiano

 

Born in Castellamonte

(TO)

on 27/03/1971

- Fiscal Code : MSSCST71C27C133F

 

Residence:

Conti S. Martino

, 28

- 10081

Castellamonte

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

27/12/2012

Director

27/12/2012

 

No Prejudicial events are reported

 

No Protests registered

 

Cofim S.r.l.

 

 

:

Carlo Emanuele Ii

, 13

- 10123

Torino

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Musso

Giancarlo

 

Born in Castellamonte

(TO)

on 25/09/1946

- Fiscal Code : MSSGCR46P25C133R

 

Residence:

Tenente Morello

, 19

- 10081

Castellamonte

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

27/12/2012

Board Chairman

27/12/2012

Director

27/12/2012

 

No Prejudicial events are reported

 

No Protests registered

 

Dogliotti

Piero

 

Born in Torino

(TO)

on 13/02/1946

- Fiscal Code : DGLPRI46B13L219F

 

Residence:

Stampatori

, 21

- 10122

Torino

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

01/03/2013

Director

27/12/2012

 

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.

 

Musso

Giancarlo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

SPACE DI MUSSO E C. - S.A.S.

Torino - IT -

04334150010

General Partner

Active

Registered

Only Leather S.a.s. Di Vallarsa GiulianoE C.

Arzignano (VI) - IT -

01696760246

Limited Partner

Withdrawn

Ceased

Cofim S.r.l.

Torino (TO) - IT -

05405250019

Procurator

Active

Registered

S.M.S. S.R.L.

Torino (TO) - IT -

01494640012

Sole Director

Withdrawn

Registered

I.T.I. IMPORT EXPORT ITALIA S.A.S. DI SPERTINO E C. - IN LIQUIDA-ZIONE

Torino (TO) - IT -

03612270011

Liquidator

Withdrawn

Registered

CHEMICALINE DI MUSSO GIANCARLO E C. - S.A.S.

Torino (TO) - IT -

04396880017

General Partner

Withdrawn

Registered

S.a.s. Musso E C.

Torino (TO) - IT -

05396110016

General Partner

Active

Registered

MUSSO GIANCARLO

Torino (TO) - IT -

MSSGCR46P25C133R

Proprietor

Withdrawn

Registered

L'enclave S.r.l.

Torino (TO) - IT -

08816850013

Sole Director

Active

Registered

 

 

Musso

Cristiano

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Cofim S.r.l.

Torino (TO) - IT -

05405250019

Sole Director

Withdrawn

Registered

S.a.s. Musso E C.

Torino (TO) - IT -

05396110016

Limited Partner

Active

Registered

 

Musso

Manuele Maria

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Club Liberi Tutti Dicembre 2011 S.a.s. Di Giancarlo Rocchietti E C.

Torino (TO) - IT -

10627100018

Limited Partner

Active

Registered

Wff Sas Di Musso Manuele Maria E C.

Cuneo (CN) - IT -

03431390040

General Partner

Active

Registered

Igloo S.r.l.

Torino (TO) - IT -

97752380010

Sole Director

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

Musso Giancarlo

Castellamonte - IT -

MSSGCR46P25C133R

38.104 .Eur

0,99

Cofim S.r.l.

Torino - IT -

05405250019

2.248.177 .Eur

59,00

Igloo S.r.l.

Torino - IT -

97752380010

1.524.187 .Eur

40,00

 

Direct Participations

 

The Company under review has no participations in other Companies.

 


Firm's location and structure

 

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

 

-

Legal and operative seat

 

Carlo Emanuele Ii

, 13

- 10100

- Torino

(TO)

- IT -

 

Total Surface: 139 Sq.mt.

 

PHONE

: 0117714655

 

Legal mail

: SPACE2000@PECSOCI.UI.TORINO.IT

 

-

Branch

(Factory)

since 01/07/1997

 

Delle Fontane

, 4/6

- 10080

- Baldissero Canavese

(TO)

- IT -

 

PHONE

: 0124410004

 

PHONE

: 0124510017

 

-

Branch

since 28/11/2001

 

Delle Fontane

, 1

- 10080

- Baldissero Canavese

(TO)

- IT -

 

-

Branch

(Shop)

since 16/04/2007

 

Della Moda

, 1/G9

- 15069

- Serravalle Scrivia

(AL)

- IT -

 

Total Surface: 139 Sq.mt.

 

-

Branch

(Shop)

since 08/05/2008

 

Provinciale 126 Km 1.6

, SNC

- 33041

- Aiello del Friuli

(UD)

- IT -

 

Trading Style: HANGAR EIGHTEEN

 

Total Surface: 213 Sq.mt.

 

-

Branch

(Workshop)

since 01/06/2011

 

Castellamonte

, SNC

- 10010

- Torre Canavese

(TO)

- IT -

 

-

Branch

(Workshop)

since 01/06/2011

 

Area Pip- Strada Preie

, SN

- 10010

- Torre Canavese

(TO)

- IT -

 

-

Branch

(Workshop)

since 01/06/2011

 

Preie

, SN

- 10010

- Torre Canavese

(TO)

- IT -

 

-

Branch

(Shop)

since 23/05/2012

 

S.martino Di Zusiagna

, SNC

- 28060

- Vicolungo

(NO)

- IT -

 

Total Surface: 197 Sq.mt.

 

-

Branch

(Shop)

since 22/03/2012

 

Marco Polo

, 1/120

- 30020

- Noventa di Piave

(VE)

- IT -

 

Total Surface: 118 Sq.mt.

 

-

Branch

(Shop)

since 15/08/2012

 

Roma

, 120

- 11013

- Courmayeur

(AO)

- IT -

 

Total Surface: 52 Sq.mt.

 

-

Branch

(Shop)

since 30/11/2013

 

Del Commercio

, 4/I

- 40023

- Castel Guelfo di Bologna

(BO)

- IT -

 

Total Surface: 274 Sq.mt.

 

-

Branch

(Shop)

since 27/09/2014

 

Marco Biagi

, 0

- 46031

- Bagnolo San Vito

(MN)

- IT -

 

Total Surface: 326 Sq.mt.

 

Employees

: 72

 

Assistants

: 1

 

Agents

: 10

 

Fittings and Equipment for a value of 1.110.000

Eur

 

Stocks for a value of 5.460.000

Eur

 

Cars for a value of 10.000

Eur

 

Vehicles for a value of 26.000

Eur

 

Trade organization: direct or by agents.

The company sells in Italy and abroad.

The company supplies wholesalers and retailers.

The firm operates abroad as importer / exporter..

Export represents from 20% to 50% of the global turnover.

Company generally accepts payments with terms of 60/90 days.

Financial means used for sale: bank transfers and bank orders.

Purchases are mainly paid with terms of 30/90 days.

Main used payment modalities are by cash orders and bank transfers.

 

Import comes generally from the following nations:

- Spain

 

- France

 

- Belgium

 

- India

 

The subject firm uses the following own selling brands:

- BAMBOOGIE

 

- THE STATHAM

 

- WAXED

 

- EIGHTEEN

 

 

Traded Brands / Suppliers

 

- Coin

 

- Icat

 

- Lemaka srl

 

 

Protests

 

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

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

 

Legal Procedures

 

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

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

SAN PAOLO BANCO DI NAPOLI S.P.A

1010

0

UNICREDIT BANCA SPA

CASTELLAMONTE

PIAZZA REPUBBLICA 1

10081

Castellamonte

2008

30300

 

Financial and Economical Analysis

 

Company's starting of activities dates back to 1988.

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 7,83% on 2014) keeping the turnover steady during the last two years.

The operating result was positive in the last financial year (8,9%) falling within the field's average.

The amount of the operating result is equal to Eur. 1.946.172 with an increase of more then 100% if the compared to the previous financial year.

During the latest financial year the gross operating margin amounted to Eur. 2.723.838 showing a more then 100% growth.

The company has an excellent net worth if compared to its debts, with a low indebtedness (0,34) improved in comparison with the year before (0,8.).

It's shareholders funds amount to Eur. 12.498.259 , unchanged as opposed to the preceding year.

During the last financial year total debts volume reached Eur. 7.777.497 (Eur. 1.886.679 were m/l term ones) as opposed to Eur. 14.630.506 in 2013, with a decrease equal to -46,84%.

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

Payments are supported by good current assets.

Accounts receivable average term is high (101,13 days). within the standard level of the average of the sector.

Eur. 1.756.297 is the value of cash flow during the year 2014

In the last financial year labour cost was of Eur. 2.032.027, with a 11,34% incidence on total costs of production. , whereas the incidence of such costs on sales revenues is equal to 9,05%.

The financial management has a limited economic impact, equal to -0,95% on the sales.



Financial Data

 

Complete balance-sheet for the year

al 30/04/2014

(in Eur

x 1)

 

Item Type

Value

Sales

22.463.173

Profit (Loss) for the period

978.631

 

Complete balance-sheet for the year

al 30/06/2013

(in Eur

x 1)

 

Item Type

Value

Sales

21.321.008

Profit (Loss) for the period

91.507

 

Complete balance-sheet for the year

al 30/06/2012

(in Eur

x 1)

 

Item Type

Value

Sales

23.249.455

Profit (Loss) for the period

56.010

 

Complete balance-sheet for the year

al 30/06/2011

(in Eur

x 1)

 

Item Type

Value

Sales

22.838.496

Profit (Loss) for the period

551.427

 

Complete balance-sheet for the year

al 30/06/2010

(in Eur

x 1)

 

Item Type

Value

Sales

20.421.971

Profit (Loss) for the period

866.188

 

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 30/04/2014 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 30/06/2013 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 30/06/2012 - 12 Mesi - Currency: - Amounts x 1

 

Years

2014

2013

2012

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.

95.234

82.602

51.027

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

115.675

122.721

129.351

. Total Intangible Fixed Assets

210.909

205.323

180.378

. TANGIBLE FIXED ASSETS

. . Real estate

5.503.290

5.678.783

5.744.588

. . Plant and machinery

1.102.634

1.222.583

1.316.572

. . Industrial and commercial equipment

9.248

10.412

13.552

. . Other assets

437.703

475.329

499.433

. . Assets under construction and advances

. Total Tangible fixed assets

7.052.875

7.387.107

7.574.145

. FINANCIAL FIXED ASSETS

. . Equity investments

104.252

19.147

19.147

. . . Equity invest. in subsidiary companies

104.227

19.122

19.122

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

25

25

25

. . Financial receivables

38.914

38.888

39.004

. . . . Within 12 months

. . . . Beyond 12 months

38.914

38.888

39.004

. . . 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

38.914

38.888

39.004

. . . . Within 12 months

. . . . Beyond 12 months

38.914

38.888

39.004

. . Other securities

500.000

. . Own shares

. . . Total nominal value

. Total financial fixed assets

643.166

58.035

58.151

Total fixed assets

7.906.950

7.650.465

7.812.674

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

286.723

532.723

102.341

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

3.411.385

6.304.910

4.866.391

. . Advance payments

1.766.437

93.825

110.913

. Total Inventories

5.464.545

6.931.458

5.079.645

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

5.526.449

8.386.051

6.866.654

. . Beyond 12 months

955.911

1.494.210

1.042.579

. . Trade receivables

6.310.577

5.321.838

6.146.828

. . . . Within 12 months

5.450.834

3.923.796

5.111.903

. . . . Beyond 12 months

859.743

1.398.042

1.034.925

. . 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.

38.279

31.294

1.700

. . . . Within 12 months

10.085

3.100

1.700

. . . . Beyond 12 months

28.194

28.194

. . Fiscal Receivables

95.092

512.894

163.004

. . . . Within 12 months

34.772

452.574

163.004

. . . . Beyond 12 months

60.320

60.320

. . Receivables for anticipated taxes

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from third parties

38.412

4.014.235

1.597.701

. . . . Within 12 months

30.758

4.006.581

1.590.047

. . . . Beyond 12 months

7.654

7.654

7.654

. Total Credits not held as fixed assets

6.482.360

9.880.261

7.909.233

. 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

198.115

198.319

. Total Financial Assets

198.115

198.319

. LIQUID FUNDS

. . Bank and post office deposits

1.585.853

2.568.944

68.636

. . Checks

7.569

231.604

262.830

. . Banknotes and coins

56.010

56.050

65.994

. Total Liquid funds

1.649.432

2.856.598

397.460

Total current assets

13.794.452

19.866.636

13.386.338

ADJUSTMENT ACCOUNTS

. Discount on loans

167.364

375.800

. Other adjustment accounts

189.802

Total adjustments accounts

167.364

189.802

375.800

TOTAL ASSETS

21.868.766

27.706.903

21.574.812

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

3.810.469

3.810.469

3.810.469

. Additional paid-in capital

589.680

589.680

589.680

. Revaluation reserves

3.270.690

3.246.316

3.246.316

. Legal reserve

299.295

285.870

283.069

. Reserve for Own shares

. Statute reserves

. Other reserves

3.549.494

3.294.411

3.328.708

. Accumulated Profits (Losses)

176.997

. Profit( loss) of the year

978.631

91.507

56.010

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

12.498.259

11.495.250

11.314.252

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

166.337

149.737

197.020

. . Taxation fund, also differed

819.566

843.941

873.206

. . Other funds

Total Reserves for Risks and Charges

985.903

993.678

1.070.226

Employee termination indemnities

604.489

576.611

499.989

ACCOUNTS PAYABLE

. . . . Within 12 months

5.890.818

12.027.228

6.388.179

. . . . Beyond 12 months

1.886.679

2.603.278

2.266.991

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

1.300.000

1.300.000

1.300.000

. . . . Within 12 months

. . . . Beyond 12 months

1.300.000

1.300.000

1.300.000

. . Due to banks

2.285.143

6.193.016

2.845.580

. . . . Within 12 months

1.703.787

4.895.061

1.883.989

. . . . Beyond 12 months

581.356

1.297.955

961.591

. . Due to other providers of finance

4.495

7.985

6.837

. . . . Within 12 months

4.495

7.985

6.837

. . . . Beyond 12 months

. . Advances from customers

4.396

. . . . Within 12 months

4.396

. . . . Beyond 12 months

. . Trade payables

2.943.459

6.171.116

3.584.970

. . . . Within 12 months

2.943.459

6.171.116

3.584.970

. . . . 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

68.716

83.709

32.059

. . . . Within 12 months

68.716

83.709

32.059

. . . . Beyond 12 months

. . Due to the tax authorities

430.042

. . . . Within 12 months

430.042

. . . . Beyond 12 months

. . Due to social security and welfare inst.

172.341

168.150

144.384

. . . . Within 12 months

172.341

168.150

144.384

. . . . Beyond 12 months

. . Other payables

568.905

706.530

741.340

. . . . Within 12 months

563.582

701.207

735.940

. . . . Beyond 12 months

5.323

5.323

5.400

Total accounts payable

7.777.497

14.630.506

8.655.170

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

2.618

10.858

35.175

Total adjustment accounts

2.618

10.858

35.175

TOTAL LIABILITIES

21.868.766

27.706.903

21.574.812

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

5.054.152

847.144

Risk accounts

135.024

Civil and fiscal norms relation

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

22.463.173

21.321.008

23.249.455

. Changes in work in progress

-2.893.525

1.438.518

1.911.828

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

299.818

376.244

372.056

. . Contributions for operating expenses

144.736

191.584

203.755

. . Different income and revenues

155.082

184.660

168.301

Total value of production

19.869.466

23.135.770

25.533.339

PRODUCTION COSTS

. Raw material,other materials and consum.

8.853.157

14.124.282

13.956.172

. Services received

5.515.672

6.889.319

. Leases and rentals

5.241.451

919.250

945.292

. Payroll and related costs

2.032.027

2.310.839

2.271.621

. . Wages and salaries

1.489.318

1.715.222

1.740.119

. . Social security contributions

427.051

477.451

408.288

. . Employee termination indemnities

115.658

118.166

123.214

. . Pension and similar

. . Other costs

. Amortization and depreciation

777.666

602.294

587.872

. . Amortization of intangible fixed assets

46.262

61.778

34.351

. . Amortization of tangible fixed assets

431.404

514.832

524.308

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

300.000

25.684

29.213

. Changes in raw materials

246.000

-430.382

-6.265

. Provisions to risk reserves

. Other provisions

. Other operating costs

772.993

366.773

406.287

Total production costs

17.923.294

23.408.728

25.050.298

Diff. between value and cost of product.

1.946.172

-272.958

483.041

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

39.610

17.693

9.618

. . Financ.income from receivables

9.618

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

9.618

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

. . Financ.income from secur. cur.assets

6.065

. . Financ.income other than the above

33.545

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

33.545

. Interest and other financial expense

-253.907

165.985

-255.883

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

-64.964

-79.008

. . Towards other companies

-188.943

255.883

Total financial income and expense

-214.297

183.678

-246.265

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

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

. . Of securities incl.among current assets

. Devaluation

-205

-1.677

. . Of equity investments

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

-205

-1.677

Total adjustments to financial assets

-205

-1.677

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

59.108

467.838

187.514

. . Gains on disposals

. . Other extraordinary income

59.108

467.838

187.514

. Extraordinary expense

-35.417

-102.689

-41.146

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-35.417

-102.689

-41.146

Total extraordinary income and expense

23.691

365.149

146.368

Results before income taxes

1.755.361

274.192

383.144

. Taxes on current income

776.730

182.685

327.134

. . current taxes

776.730

211.950

356.399

. . differed taxes(anticip.)

-29.265

-29.265

. Net income for the period

978.631

91.507

56.010

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

978.631

91.507

56.010

 

RATIOS

Value Type

as at 30/04/2014

as at 30/06/2013

as at 30/06/2012

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,36

0,28

0,36

0,14

Elasticity Ratio

Units

0,63

0,72

0,62

0,84

Availability of stock

Units

0,25

0,25

0,24

0,24

Total Liquidity Ratio

Units

0,38

0,47

0,39

0,53

Quick Ratio

Units

0,08

0,11

0,02

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,34

0,80

0,53

3,78

Self Financing Ratio

Units

0,57

0,41

0,52

0,17

Capital protection Ratio

Units

0,62

0,66

0,66

0,66

Liabilities consolidation quotient

Units

0,42

0,26

0,43

0,14

Financing

Units

0,62

1,27

0,76

4,55

Permanent Indebtedness Ratio

Units

0,69

0,53

0,65

0,33

M/L term Debts Ratio

Units

0,11

0,11

0,13

0,09

Net Financial Indebtedness Ratio

Units

0,16

0,40

0,33

1,26

CORRELATION

Fixed assets ratio

Units

1,90

1,92

1,80

1,87

Current ratio

Units

2,34

1,65

2,10

1,17

Acid Test Ratio-Liquidity Ratio

Units

1,41

1,08

1,30

0,79

Structure's primary quotient

Units

1,58

1,50

1,45

1,13

Treasury's primary quotient

Units

0,31

0,25

0,06

0,04

Rate of indebtedness ( Leverage )

%

174,97

241,03

190,69

587,75

Current Capital ( net )

Value

7.903.634

7.839.408

6.998.159

209.248

RETURN

Return on Sales

%

7,82

3,25

2,77

2,26

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

%

7,83

0,80

0,50

3,48

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

%

14,04

2,39

3,39

12,19

Return on Investment ( R.O.I. )

%

8,90

-0,99

2,24

3,83

Return/ Sales

%

8,66

-1,28

2,08

3,45

Extra Management revenues/charges incid.

%

50,28

n.c.

11,60

20,46

Cash Flow

Value

1.756.297

693.801

643.882

50.400

Operating Profit

Value

1.946.172

-272.958

483.041

68.610

Gross Operating Margin

Value

2.723.838

329.336

1.070.913

124.742

MANAGEMENT

Credits to clients average term

Days

101,13

89,86

95,18

120,68

Debts to suppliers average term

Days

76,94

109,52

59,76

115,81

Average stock waiting period

Days

87,58

117,04

78,65

78,40

Rate of capital employed return ( Turnover )

Units

1,03

0,77

1,08

1,14

Rate of stock return

Units

4,11

3,08

4,58

4,57

Labour cost incidence

%

9,05

10,84

9,77

12,27

Net financial revenues/ charges incidence

%

-0,95

0,86

-1,06

-1,84

Labour cost on purchasing expenses

%

11,34

9,87

9,07

12,16

Short-term financing charges

%

3,26

n.c.

2,96

3,35

Capital on hand

%

97,35

129,95

92,80

87,41

Sales pro employee

Value

356.558

296.125

332.135

245.343

Labour cost pro employee

Value

32.254

32.094

32.451

32.046

 

 

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

:

2.236.941

Population living in the region

:

4.330.172

Number of families in the region

:

1.889.207

 

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

 

- per food products

:

429

- per non food products

:

1.789

- per energy consume

:

135

 

Sector Data

 

The values are calculated on a base of 864 significant companies.

 

The companies cash their credits on an average of 121 dd.

The average duration of suppliers debts is about 116 dd.

The sector's profitability is on an average of 2,26%.

The labour cost affects the turnover in the measure of 12,27%.

Goods are held in stock in a range of 78 dd.

The difference between the sales volume and the resources used to realize it is about 1,14.

The employees costs represent the 12,16% of the production costs.

 

Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered moderately risky.

In the region 27.019 protested subjects are found; in the province they count to 16.723.

The insolvency index for the region is 0,63, , while for the province it is 0,76.

Total Bankrupt companies in the province : 7.726.

Total Bankrupt companies in the region : 14.165.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.67

UK Pound

1

Rs.101.02

Euro

1

Rs.71.35

 

 

INFORMATION DETAILS

 

Analysis Done by :

HNA

 

 

Report Prepared by :

ANK

 

 

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.