MIRA INFORM REPORT

 

 

Report No. :

350462

Report Date :

24.11.2015

 

IDENTIFICATION DETAILS

 

Name :

P.F.M. - S.P.A.

 

 

Registered Office :

Via Pasubio, 49  36036 - Torrebelvicino  (VI)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

20.05.1969

 

 

Legal Form :

Joint stock company

 

 

Line of Business :

Manufacture of automatic machines for dosing, wrapping and packaging (including seperate parts and accessories).

 

 

No. of Employee :

From 176 to 200

 

 

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

 

Maximum Credit Limit :

EUR 250.000 -

 

 

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

 

P.F.M. - S.P.A.

 

Via Pasubio, 49  36036 - Torrebelvicino  (VI)-IT-

 

 

 

Summary

 

Fiscal Code

:

00171090244

Legal Form

:

Joint stock company

Foundation Date

:

20/05/1969

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 176 to 200

 

 

CREDIT LIMIT

 

Credit Opinion

:

EUR 250.000 -

 

 

Activity

 

Manufacture of automatic machines for dosing, wrapping and packaging

(including seperate parts and accessories)

 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 00171090244

 

Foreign Trade Reg. no. : VI013735 since 17/12/1991

 

Chamber of Commerce no. : 107207 of Vicenza since 30/05/1969

 

V.A.T. Code : 00171090244

 

Tribunal Co. Register : 5031 of

 

Foundation date

: 20/05/1969

Establishment date

: 20/05/1969

Legal duration

: 31/12/2050

Nominal Capital

: 774.000

Subscribed Capital

: 774.000

Paid up Capital

: 774.000

 

Legal mail :

PFM@PEC.PFM.IT

 

 

Members

 

Moro

Elisabetta

 

Born in Santorso

(VI)

on 20/08/1934

- Fiscal Code : MROLBT34M60I353J

 

Residence:

Grumi Dei Frati

, 9

- 36015

Schio

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

17/06/2015

Board Chairman

17/06/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Fioravanti

Paolo

 

Born in Schio

(VI)

on 03/12/1963

- Fiscal Code : FRVPLA63T03I531S

 

Residence:

S.giovanni

, 19

- 36034

Malo

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

17/06/2015

Managing Director

17/06/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Fioravanti

Andrea

 

Born in Schio

(VI)

on 06/11/1968

- Fiscal Code : FRVNDR68S06I531V

 

Residence:

Paolo Lioy

, 65A

- 36015

Schio

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

17/06/2015

Managing Director

17/06/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Giglioli

Gianni

 

Born in Reggio Emilia

(RE)

on 07/01/1949

- Fiscal Code : GGLGNN49A07H223R

 

Residence:

Santa Giustina

, 2/A

- 36057

Arcugnano

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Auditor

17/06/2015



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.

 

Moro

Elisabetta

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Director

Active

Registered

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Managing Director

Active

Registered

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Board Chairman

Active

Registered

Pack Valley S.r.l.

Torrebelvicino (VI) - IT -

01815270242

Sole Director

Withdrawn

Ceased

Bg - Pack S.r.l.

Treviolo (BG) - IT -

02329870162

Director

Active

Registered

Bg - Pack S.r.l.

Treviolo (BG) - IT -

02329870162

Board Chairman

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Managing Director

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Director

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Board Chairman

Active

Registered

Fioravanti Di Moro Elisabetta E C. S.a.s.

Torrebelvicino (VI) - IT -

01996620249

General Partner

Withdrawn

In liquidation

Fioravanti Di Moro Elisabetta E C. S.a.s.

Torrebelvicino (VI) - IT -

01996620249

Liquidator

Withdrawn

In liquidation

Epf S.a.s. Di Moro Elisabetta E C.

Torrebelvicino (VI) - IT -

02264870243

General Partner

Withdrawn

Ceased

Pfmeccanica S.r.l.

Santorso (VI) - IT -

03351820240

Director

Active

Registered

Pfmeccanica S.r.l.

Santorso (VI) - IT -

03351820240

Board Chairman

Active

Registered

Bissaboa Societa' Semplice

Caorle (VE) - IT -

00838110278

Partner

Active

Registered

 

Fioravanti

Paolo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Director

Active

Registered

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Managing Director

Active

Registered

Bg - Pack S.r.l.

Treviolo (BG) - IT -

02329870162

Director

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Managing Director

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Director

Active

Registered

Fioravanti Di Moro Elisabetta E C. S.a.s.

Torrebelvicino (VI) - IT -

01996620249

Limited Partner

Withdrawn

In liquidation

Epf S.a.s. Di Moro Elisabetta E C.

Torrebelvicino (VI) - IT -

02264870243

Limited Partner

Withdrawn

Ceased

Pfmeccanica S.r.l.

Santorso (VI) - IT -

03351820240

Director

Active

Registered

 

Fioravanti

Andrea

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Director

Active

Registered

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Assistant board Chairman

Active

Registered

M.b.p. S.r.l.

Castiglione delle Stiviere (MN) - IT -

01343720205

Managing Director

Active

Registered

Bg - Pack S.r.l.

Treviolo (BG) - IT -

02329870162

Director

Active

Registered

Bg - Pack S.r.l.

Treviolo (BG) - IT -

02329870162

Assistant board Chairman

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Managing Director

Active

Registered

Sps Italiana Pack Systems S.p.a.

Torrebelvicino (VI) - IT -

13456210155

Director

Active

Registered

Fioravanti Di Moro Elisabetta E C. S.a.s.

Torrebelvicino (VI) - IT -

01996620249

Limited Partner

Withdrawn

In liquidation

Epf S.a.s. Di Moro Elisabetta E C.

Torrebelvicino (VI) - IT -

02264870243

Limited Partner

Withdrawn

Ceased

Pfmeccanica S.r.l.

Santorso (VI) - IT -

03351820240

Director

Active

Registered

Processing E Packaging: The High-tech Italian Way

Milano (MI) - IT -

08046220961

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

Moro Elisabetta

Schio - IT -

MROLBT34M60I353J

439.632 .Eur

56,80

Fioravanti Paolo

Malo - IT -

FRVPLA63T03I531S

167.184 .Eur

21,60

Fioravanti Andrea

Schio - IT -

FRVNDR68S06I531V

167.184 .Eur

21,60

 

 

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

Sps Italiana Pack Systems S.p.a.

Torrebelvicino - IT -

13456210155

69.000 .Eur

69,00

Active

M.b.p. S.r.l.

Castiglione delle Stiviere - IT -

01343720205

46.706 .Eur

99,80

Active

Bg - Pack S.r.l.

Treviolo - IT -

02329870162

99.800 .Eur

99,80

Active

Pfmeccanica S.r.l.

Santorso - IT -

03351820240

8.500 .Eur

85,00

Active

Oroneve S.r.l.

Paluzza - IT -

02532370307

249.405 .Eur

10,28

Active

Processing E Packaging: The High-tech I talian Way

Milano - IT -

08046220961

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

since 20/05/1969

 

Pasubio

, 49

- 36036

- Torrebelvicino

(VI)

- IT -

 

PHONE

: 0445570110

 

FAX

: 0445570175

 

Email

: pfm@pfm.it

 

Legal mail

: PFM@PEC.PFM.IT

 

-

Branch

(Warehouse)

since 07/01/2009

 

Casa Celeste

, 7

- 36014

- Santorso

(VI)

- IT -

 

Employees

: 182

 

Assistants

: 4

 

Fittings and Equipment for a value of 680.000

Eur

 

Stocks for a value of 7.220.000

Eur

 

The company sells in Italy and abroad.

The company 's mainly customers are companies.

The firm operates abroad as exporter..

Export trade is the 30 % of the global turnover.

Products abroad are placed by :

- importers

 

- its own foreign branches

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

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

 

Export is mainly towards:

- TUTTO IL CONTINENTE

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

General partnership

Limited liability company

31/12/1980

Limited liability company

Joint stock company

05/12/1986

 

CEASINGS/INCORPORATIONS/MERGES:

 

Project of merging by taking over of

 

VuotoPack Valley S.r.l.

 

Pasubio

, 36036

, Torrebelvicino

(VI)

- IT -

 

Fiscal Code: 01815270242

 

Date

Merging/splitting-up project:

01/09/2010

 

The firm absorbed by merging of

 

VuotoPack Valley S.r.l.

 

Pasubio

, 36036

, Torrebelvicino

(VI)

- IT -

 

Fiscal Code: 01815270242

 

Date

:

27/12/2010



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

BANCA POPOLARE DI VICENZA SCPA

FILIALE DI TORREBELVICINO

PIAZZA ALDO MORO

36036

Torrebelvicino (VI)

5728

60880

UNICREDIT BANCA SPA

2008

0

INTESA SANPAOLO SPA

3069

0



Financial and Economical Analysis

 

Company's starting of activities dates back to 1969.

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 14,74% on 2014) but without a significant increase in the turnover.

The operating result was positive in the last financial year (5,57%) falling within the field's average.

An operating result of Eur. 1.692.065 has been registered. on stable levels if compared to the previous year.

During the latest financial year the gross operating margin amounted to Eur. 2.005.224 stable if compared to the financial year 2013.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,69) and decreasing as against 2013.

The management generated equity capital for an amount of Eur. 9.130.496 , unchanged as opposed to the preceding year.

During the last financial year debts totalled Eur. 20.190.933 (Eur. 2.176.961 of which were m/l term debts) , with no sensible variation.

The company does not exceed in bank credits; payments average period is instead slightly high (128,94 gg.) however still within the sector's average.

Liquidity is good (1,17)

Trade credits average terms are 61,07 days. , shorter than the sector's average.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 1.659.076

In the last financial year labour cost was of Eur. 10.200.718, with a 24,41% incidence on total costs of production. , with a 24,72% incidence on turnover.

Financial incomes cover financial charges.



Financial Data

 

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

41.270.264

Profit (Loss) for the period

1.345.917

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

38.868.922

Profit (Loss) for the period

1.233.257

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

40.058.804

Profit (Loss) for the period

1.747.129

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

36.710.158

Profit (Loss) for the period

805.319

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

31.948.777

Profit (Loss) for the period

375.052



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 31/12/2014 - 12 Mesi - Currency: - Amounts x 1

 

- 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

 

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.

198.000

72.000

. . Industrial patent rights

. . Concessions,licenses,trademarks,etc.

7.766

31.100

53.351

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

. Total Intangible Fixed Assets

205.766

103.100

53.351

. TANGIBLE FIXED ASSETS

. . Real estate

2.951.516

2.942.382

1.932.582

. . Plant and machinery

661.626

636.868

180.352

. . Industrial and commercial equipment

16.476

8.887

16.374

. . Other assets

280.637

241.679

193.596

. . Assets under construction and advances

116.954

97.979

79.004

. Total Tangible fixed assets

4.027.209

3.927.795

2.401.908

. FINANCIAL FIXED ASSETS

. . Equity investments

4.901.197

4.885.697

4.830.197

. . . Equity invest. in subsidiary companies

4.539.705

4.539.705

4.499.705

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

361.492

345.992

330.492

. . 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

4.901.197

4.885.697

4.830.197

Total fixed assets

9.134.172

8.916.592

7.285.456

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

2.693.779

3.255.783

2.675.432

. . Work in progress and semimanufactured

3.721.327

1.694.266

1.992.126

. . Work in progress on order

. . Finished goods

599.711

604.729

500.295

. . Advance payments

209.806

104.899

229.195

. Total Inventories

7.224.623

5.659.677

5.397.048

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

11.099.848

12.162.360

11.371.750

. . Beyond 12 months

204.086

497.708

470.708

. . Trade receivables

7.000.561

6.085.555

7.498.500

. . . . Within 12 months

7.000.561

6.085.555

7.498.500

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

3.779.750

5.041.157

3.509.970

. . . . Within 12 months

3.575.664

4.822.551

3.318.364

. . . . Beyond 12 months

204.086

218.606

191.606

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Fiscal Receivables

495.001

1.490.521

780.139

. . . . Within 12 months

495.001

1.211.419

501.037

. . . . Beyond 12 months

279.102

279.102

. . Receivables for anticipated taxes

19.899

31.931

45.530

. . . . Within 12 months

19.899

31.931

45.530

. . . . Beyond 12 months

. . Receivables due from third parties

8.723

10.904

8.319

. . . . Within 12 months

8.723

10.904

8.319

. . . . Beyond 12 months

. Total Credits not held as fixed assets

11.303.934

12.660.068

11.842.458

. 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

2.621.231

3.831.542

379.968

. . Checks

. . Banknotes and coins

2.112

1.089

3.827

. Total Liquid funds

2.623.343

3.832.631

383.795

Total current assets

21.151.900

22.152.376

17.623.301

ADJUSTMENT ACCOUNTS

. Discount on loans

116.993

167.962

. Other adjustment accounts

98.727

Total adjustments accounts

116.993

167.962

98.727

TOTAL ASSETS

30.403.065

31.236.930

25.007.484

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

774.000

774.000

774.000

. Additional paid-in capital

. Revaluation reserves

488.389

488.389

488.389

. Legal reserve

154.800

154.800

154.800

. Reserve for Own shares

2.867.603

. Statute reserves

5.143.771

4.361.803

. Other reserves

1.223.619

1.222.329

1.269.402

. Accumulated Profits (Losses)

. Profit( loss) of the year

1.345.917

1.233.257

1.747.129

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

9.130.496

8.234.578

7.301.323

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

119.163

119.163

119.163

. . Taxation fund, also differed

23.669

362

7

. . Other funds

Total Reserves for Risks and Charges

142.832

119.525

119.170

Employee termination indemnities

938.804

970.281

985.299

ACCOUNTS PAYABLE

. . . . Within 12 months

18.013.972

19.089.596

13.000.434

. . . . Beyond 12 months

2.176.961

2.822.950

3.601.258

. . 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

3.503.985

5.918.209

3.570.554

. . . . Within 12 months

1.557.369

3.349.084

215.126

. . . . Beyond 12 months

1.946.616

2.569.125

3.355.428

. . Due to other providers of finance

257.507

284.321

245.830

. . . . Within 12 months

27.162

30.496

. . . . Beyond 12 months

230.345

253.825

245.830

. . Advances from customers

3.286.985

2.400.936

2.459.073

. . . . Within 12 months

3.286.985

2.400.936

2.459.073

. . . . Beyond 12 months

. . Trade payables

8.934.201

9.504.423

6.648.548

. . . . Within 12 months

8.934.201

9.504.423

6.648.548

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

1.978.641

1.659.309

1.463.678

. . . . Within 12 months

1.978.641

1.659.309

1.463.678

. . . . Beyond 12 months

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

416.697

384.253

777.277

. . . . Within 12 months

416.697

384.253

777.277

. . . . Beyond 12 months

. . Due to social security and welfare inst.

399.426

517.598

336.971

. . . . Within 12 months

399.426

517.598

336.971

. . . . Beyond 12 months

. . Other payables

1.413.491

1.243.497

1.099.761

. . . . Within 12 months

1.413.491

1.243.497

1.099.761

. . . . Beyond 12 months

Total accounts payable

20.190.933

21.912.546

16.601.692

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

Total adjustment accounts

TOTAL LIABILITIES

30.403.065

31.236.930

25.007.484

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

8.915.701

8.454.283

Civil and fiscal norms relation

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

41.270.264

38.868.922

40.058.804

. Changes in work in progress

2.022.043

-193.425

-600.809

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

196.236

296.132

134.934

. . Contributions for operating expenses

86.626

196.148

23.690

. . Different income and revenues

109.610

99.984

111.244

Total value of production

43.488.543

38.971.629

39.592.929

PRODUCTION COSTS

. Raw material,other materials and consum.

22.577.380

20.546.277

19.947.374

. Services received

6.651.099

. Leases and rentals

7.890.187

7.043.939

201.916

. Payroll and related costs

10.200.718

9.466.544

8.811.445

. . Wages and salaries

7.485.294

6.854.959

6.361.507

. . Social security contributions

2.313.755

2.224.739

2.073.974

. . Employee termination indemnities

401.669

386.846

375.964

. . Pension and similar

. . Other costs

. Amortization and depreciation

313.159

275.098

233.753

. . Amortization of intangible fixed assets

78.928

60.360

38.390

. . Amortization of tangible fixed assets

180.744

159.642

144.334

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

53.487

55.096

51.029

. Changes in raw materials

562.003

-580.350

1.039.776

. Provisions to risk reserves

. Other provisions

. Other operating costs

253.031

389.233

173.952

Total production costs

41.796.478

37.140.741

37.059.315

Diff. between value and cost of product.

1.692.065

1.830.888

2.533.614

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

414.000

299.400

. . In subsidiary companies

414.000

299.400

. . In associated companies

. . In other companies

. Other financial income

19.850

37.297

22.540

. . 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

19.850

37.297

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

19.850

37.297

. Interest and other financial expense

-60.090

-155.449

-173.419

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

-60.090

-155.449

Total financial income and expense

373.760

181.248

-150.879

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

2

289.102

. . Gains on disposals

10.000

. . Other extraordinary income

2

279.102

. Extraordinary expense

-3

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-3

Total extraordinary income and expense

2

289.099

Results before income taxes

2.065.825

2.012.138

2.671.834

. Taxes on current income

719.908

778.881

924.705

. . current taxes

684.569

764.927

947.874

. . differed taxes(anticip.)

35.339

13.954

-23.169

. Net income for the period

1.345.917

1.233.257

1.747.129

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

1.345.917

1.233.257

1.747.129

 

 

RATIOS

Value Type

as at 31/12/2014

as at 31/12/2013

as at 31/12/2012

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,30

0,29

0,29

0,18

Elasticity Ratio

Units

0,70

0,71

0,70

0,79

Availability of stock

Units

0,24

0,18

0,22

0,21

Total Liquidity Ratio

Units

0,46

0,53

0,49

0,52

Quick Ratio

Units

0,09

0,12

0,02

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,69

1,85

1,73

3,01

Self Financing Ratio

Units

0,30

0,26

0,29

0,19

Capital protection Ratio

Units

0,77

0,76

0,65

0,66

Liabilities consolidation quotient

Units

0,17

0,20

0,35

0,16

Financing

Units

2,21

2,66

2,27

3,56

Permanent Indebtedness Ratio

Units

0,40

0,39

0,48

0,34

M/L term Debts Ratio

Units

0,10

0,12

0,18

0,10

Net Financial Indebtedness Ratio

Units

0,12

0,29

0,47

0,69

CORRELATION

Fixed assets ratio

Units

1,34

1,35

1,63

1,65

Current ratio

Units

1,17

1,16

1,36

1,18

Acid Test Ratio-Liquidity Ratio

Units

0,77

0,86

0,94

0,86

Structure's primary quotient

Units

1,00

0,92

1,00

1,02

Treasury's primary quotient

Units

0,15

0,20

0,03

0,06

Rate of indebtedness ( Leverage )

%

332,98

379,34

342,51

509,92

Current Capital ( net )

Value

3.137.928

3.062.780

4.622.867

330.495

RETURN

Return on Sales

%

4,02

3,88

4,94

3,79

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

%

14,74

14,98

23,93

6,70

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

%

22,63

24,44

36,59

18,82

Return on Investment ( R.O.I. )

%

5,57

5,86

10,13

4,89

Return/ Sales

%

4,10

4,71

6,32

4,78

Extra Management revenues/charges incid.

%

79,54

67,36

68,96

29,96

Cash Flow

Value

1.659.076

1.508.355

1.980.882

165.166

Operating Profit

Value

1.692.065

1.830.888

2.533.614

225.594

Gross Operating Margin

Value

2.005.224

2.105.986

2.767.367

376.080

MANAGEMENT

Credits to clients average term

Days

61,07

56,36

67,39

111,07

Debts to suppliers average term

Days

128,94

145,67

108,97

127,44

Average stock waiting period

Days

63,02

52,42

48,50

62,88

Rate of capital employed return ( Turnover )

Units

1,36

1,24

1,60

1,10

Rate of stock return

Units

5,71

6,87

7,42

5,58

Labour cost incidence

%

24,72

24,36

22,00

18,94

Net financial revenues/ charges incidence

%

0,91

0,47

-0,38

-1,15

Labour cost on purchasing expenses

%

24,41

25,49

23,78

18,99

Short-term financing charges

%

0,30

0,71

1,04

2,55

Capital on hand

%

73,67

80,36

62,43

90,89

Sales pro employee

Value

129.780

131.759

242.780

199.007

Labour cost pro employee

Value

32.077

32.089

53.402

34.820

 

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

:

Spazio831.356

Population living in the region

:

Spazio4.699.950

Number of families in the region

:

Spazio1.813.210

 

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

 

- per food products

:

Spazio456

- per non food products

:

Spazio2.052

- per energy consume

:

Spazio127

 

 

Sector Data

 

The values are calculated on a base of 1.964 significant companies.

 

The companies cash their credits on an average of 111 dd.

The average duration of suppliers debts is about 127 dd.

The sector's profitability is on an average of 3,79%.

The labour cost affects the turnover in the measure of 18,94%.

Goods are held in stock in a range of 63 dd.

The difference between the sales volume and the resources used to realize it is about 1,10.

The employees costs represent the 18,99% 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 13.782 protested subjects are found; in the province they count to 2.234.

The insolvency index for the region is 0,30, , while for the province it is 0,27.

Total Bankrupt companies in the province : 2.546.

Total Bankrupt companies in the region : 16.714.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.35

UK Pound

1

Rs.100.66

Euro

1

Rs.70.47

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

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.