MIRA INFORM REPORT

 

 

Report No. :

347078

Report Date :

26.10.2015

 

IDENTIFICATION DETAILS

 

Name :

CHIORINO - S.P.A.

 

 

Registered Office :

Via Sant'agata, 9 13900 – Biella (BI) -IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

12.04.1986

 

 

Legal Form :

Joint stock company with sole shareholder

 

 

Line of Business :

Manufacture of luggage, handbags and similars, leathergoods and saddlery

 

 

No. of Employees :

from 251 to 500

 

 

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 Limits :

1.87 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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

 

Chiorino - S.p.a.

 

Via Sant'agata, 9

 

13900 – Biella (BI)-IT-

 

 

Summary

 

Fiscal Code

:

07466820581

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

06/12/1989

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 251 to 500



Activity

 

Other textile industries

Manufacture of luggage, handbags and similars, leathergoods and sadd

lery



Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 07466820581

 

Foreign Trade Reg. no. : BI003722 since 27/12/1991

 

Foreign Trade Reg. no. : 3722 of Biella since 27/12/1991

 

Foreign Trade Reg. no. : 003722 of Biella since 27/12/1991

 

Chamber of Commerce no. : 153915 of Biella since 05/01/1990

 

Chamber of Commerce no. : 1451169 of Milano

 

Chamber of Commerce no. : 348702 of Salerno

 

Chamber of Commerce no. : 153915 of Vercelli

 

Firms' Register : BI004-12577 of Biella since 19/02/1996

 

V.A.T. Code : 01647540028

 

Tribunal Co. Register : 12577 of

 

Foundation date

: 12/04/1986

Establishment date

: 12/04/1986

Start of Activities

: 06/12/1989

Legal duration

: 31/12/2050

Nominal Capital

: 10.000.000

Subscribed Capital

: 10.000.000

Paid up Capital

: 10.000.000

 

Legal mail :

CHIORINO.SPA@PEC.CHIORINO.COM

 

 

Members

 

Chiorino

Gregorio

 

Born in Biella

(VC)

on 20/04/1945

- Fiscal Code : CHRGGR45D20A859X

 

Residence:

Lamarmora

, 21

- 13900

Biella

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

06/06/2013

Director

06/06/2013

Managing Director

16/07/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Algeri

Lucia

 

Born in Bergamo

(BG)

on 19/07/1954

- Fiscal Code : LGRLCU54L59A794G

 

Residence:

Milano

, 177

- 13856

Vigliano Biellese

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

 

No Prejudicial events are reported

 

No Protests registered

 

Zanotto

Grazia Maria

 

Born in Trivero

(VC)

on 05/08/1957

- Fiscal Code : ZNTGZM57M45L436C

 

Residence:

Piemonte

, 13

- 13051

Biella

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

31/10/1995

 

No Prejudicial events are reported

 

No Protests registered

 

Dessy

Alberto

 

Born in Napoli

(NA)

on 17/02/1953

- Fiscal Code : DSSLRT53B17F839B

 

Residence:

Filippo Corridoni

, 44

- 20122

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

22/10/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Balboni

Luca

 

Born in Vercelli

(VC)

on 23/10/1964

- Fiscal Code : BLBLCU64R23L750N

 

Residence:

Vinzio

, 2/A

- 28075

Grignasco

(NO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney General

07/06/2000

 

No Prejudicial events are reported

 

No Protests registered

 

Pellegrini

Massimo

 

Born in Biella

(VC)

on 26/07/1956

- Fiscal Code : PLLMSM56L26A859J

 

Residence:

Roma

, 28

- 13848

Zumaglia

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney General

24/10/2003

 

No Prejudicial events are reported

 

No Protests registered

 

Bressa

Laura

 

Born in Biella

(VC)

on 16/06/1967

- Fiscal Code : BRSLRA67H56A859W

 

Residence:

Longhero

, 4

- 13875

Ponderano

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

17/11/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Bertagnolio

Alberto

 

Born in Biella

(VC)

on 06/01/1971

- Fiscal Code : BRTLRT71A06A859S

 

Residence:

Primavera

, 6

- 13900

Biella

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney General

17/12/2003

 

No Prejudicial events are reported

 

No Protests registered

 

Pozzato

Laura

 

Born in Moncalieri

(TO)

on 09/11/1966

- Fiscal Code : PZZLRA66S49F335A

 

Residence:

Xxiv Maggio

, 16

- 13898

Occhieppo Superiore

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney General

24/10/2003

 

No Prejudicial events are reported

 

No Protests registered

 

Chiorino

Matteo

 

Born in Padova

(PD)

on 02/06/1973

- Fiscal Code : CHRMTT73H02G224Z

 

Residence:

Lamarmora

, 15

- 13900

Biella

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

06/06/2013

Attorney General

08/02/2008

Managing Director

16/07/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Fiallo

Marino

 

Born in Loano

(SV)

on 27/03/1968

- Fiscal Code : FLLMRN68C27E632F

 

Residence:

Strasburgo

, 6/D

- 20097

San Donato Milanese

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

17/11/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Sant'agata - S.r.l.

 

 

Residence:

Sant'agata

, 9

- 13900

Biella

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

31/10/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Chiorino

Elisa

 

Born in Verona

(VR)

on 22/07/1975

- Fiscal Code : CHRLSE75L62L781Q

 

Residence:

Savonarola

, 86

- 35100

Padova

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/06/2014

 

No Prejudicial events are reported

 

No Protests registered

 

 

Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

Chiorino

Gregorio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Chiorino Veneto S.r.l.

Colle Umberto (TV) - IT -

01889470264

Chairman

Withdrawn

Registered

Chiorino Veneto S.r.l.

Colle Umberto (TV) - IT -

01889470264

Director

Active

Registered

Chiorino Veneto S.r.l.

Colle Umberto (TV) - IT -

01889470264

Board Chairman

Active

Registered

Fondazione Funivie Oropa

Biella (BI) - IT -

01365030020

Managing Director

Withdrawn

Registered

Cassa Di Risparmio Di Biella E Vercelli- S.p.a.

Biella (BI) - IT -

01807130024

Director

Withdrawn

Registered

Immobiliare Sant'agata - S.p.a.

Biella (BI) - IT -

03385450154

Attorney with special power

Withdrawn

Registered

IMMOBILIARE DI VIA AMBROSETTI SRL

Biella (BI) - IT -

01875920025

Liquidator

Withdrawn

Registered

VERNATO SOCIETA' SEMPLICE

- -

90009560021

Partner

Withdrawn

Registered

VERNATO - S.R.L.

Biella (VC) - IT -

00164850026

Sole Director

Withdrawn

Registered

VERNATO - S.R.L.

Biella (VC) - IT -

00164850026

Acting partner (in work)

Withdrawn

Registered

FINBI - S.R.L.

Biella (VC) - IT -

01626630022

Sole Director

Withdrawn

Registered

FINBI - S.R.L.

Biella (VC) - IT -

01626630022

Acting partner (in work)

Withdrawn

Registered

SPAZIO 506 SOCIETA' SEMPLICE

Biella (BI) - IT -

90009610024

Partner

Withdrawn

Registered

SOCIETA' SEMPLICE I.L.E.X.

Biella (BI) - IT -

80092820150

Partner

Withdrawn

Registered

FINBI DI GREGORIO CHIORINO E C. S.A.S.

Biella (BI) - IT -

90035960021

Acting partner (in work)

Withdrawn

Registered

VERNATO DI GREGORIO CHIORINO E C. S.A.S.

Biella (BI) - IT -

90035950022

Acting partner (in work)

Withdrawn

Registered

Immobiliare Speranza Smeraldo Di MantellI Eugenio E C. S.a.s.

Biella (BI) - IT -

03385680156

General Partner

Withdrawn

Registered

Master Soft S.r.l.

Novara (NO) - IT -

01373680030

Director

Withdrawn

Registered

"P.M.3 SRL"

Busto Arsizio (VA) - IT -

02492790122

Director

Withdrawn

Registered

Chiorino - S.p.a.

Biella (VC) - IT -

00147830020

Chairman

Withdrawn

Registered

ASSOCIAZIONE PER L'INCREMENTO DELL'ISTRUZIONE PROFESSIONALE NEL BIELLESE

Biella (VC) - IT -

00186740023

Vice-Chairman

Withdrawn

Registered

Banca Patrimoni Sella E C. Spa, In SiglaBpa Spa

Torino (TO) - IT -

08301100015

Director

Active

Registered

CHIORINO - S.P.A.

BIELLA (VC) - IT -

Sole Director

Withdrawn

Registered

Sant'agata - S.r.l.

Biella (BI) - IT -

02552330025

Managing Director

Active

Registered

Sant'agata - S.r.l.

Biella (BI) - IT -

02552330025

Director

Active

Registered

Sant'agata - S.r.l.

Biella (BI) - IT -

02552330025

Board Chairman

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Managing Director

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Director

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Partner

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Partner

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Board Chairman

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Managing Director

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Director

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Partner

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Partner

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Board Chairman

Active

Registered

Ilex 2015 S.r.l.

Biella (BI) - IT -

02595580024

Sole Director

Active

Registered

 

Dessy

Alberto

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Redaelli Tecna S.p.a.

Milano (MI) - IT -

06247740159

Board Chairman

Withdrawn

Registered

Tecnodiffusione Italia - S.p.a.

Ponsacco (PI) - IT -

01072830506

Director

Withdrawn

In liquidation

Centrobanca - Studio Finanziario S.p.a.In Forma Abbreviata Centrobanca - S

Milano (MI) - IT -

01866030156

Memb.of the Executive Committee

Withdrawn

Ceased

Consulcarta S.r.l.

Milano (MI) - IT -

12975410155

Judicial liquidator

-

Bankrupt

SESIFAN SPA

ABBIATEGRASSO - IT -

Permanent Auditor

Active

Registered

Sasfi Societa' Abbiatense Sviluppo FilmsImballaggi S.p.a.

Abbiategrasso (MI) - IT -

01872740152

Director

Withdrawn

Ceased

Nuova Sesi Dabb Srl

Abbiategrasso (MI) - IT -

05842870155

Director

Withdrawn

Ceased

 

Chiorino

Matteo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Chiorino Parma - Societa' A Responsabilita' Limitata

Parma (PR) - IT -

01673790349

Director

Active

Registered

Chiorino Parma - Societa' A Responsabilita' Limitata

Parma (PR) - IT -

01673790349

Sole Director

Withdrawn

Registered

Chiorino Parma - Societa' A Responsabilita' Limitata

Parma (PR) - IT -

01673790349

Board Chairman

Active

Registered

Chiorino Veneto S.r.l.

Colle Umberto (TV) - IT -

01889470264

Director

Active

Registered

SPAZIO 506 SOCIETA' SEMPLICE

Biella (BI) - IT -

90009610024

Partner

Withdrawn

Registered

Pieve Societa' Semplice

Biella (BI) - IT -

90004130028

Partner

Active

Registered

Sant'agata - S.r.l.

Biella (BI) - IT -

02552330025

Managing Director

Active

Registered

Sant'agata - S.r.l.

Biella (BI) - IT -

02552330025

Director

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Managing Director

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Director

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Partner

Active

Registered

Cosmo 1 - Societa' Semplice

Biella (BI) - IT -

90053090024

Partner

Active

Registered

 

Chiorino

Elisa

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Pieve Societa' Semplice

Biella (BI) - IT -

90004130028

Partner

Active

Registered

Sant'agata - S.r.l.

Biella (BI) - IT -

02552330025

Director

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Managing Director

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Director

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Partner

Active

Registered

Cosmo 2 - Societa' Semplice

Biella (BI) - IT -

90053100021

Partner

Active

Registered



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

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

Sant'agata - S.r.l.

Biella - IT -

02552330025

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

Banca Patrimoni Sella E C. Spa, In Sigla Bpa Spa

Torino - IT -

08301100015

468.627 .Eur

1,67

Active

Chiorino Parma - Societa' A Responsabili ta' Limitata

Parma - IT -

01673790349

98.800 .Eur

100,00

Active

Chiorino Veneto S.r.l.

Colle Umberto - IT -

01889470264

500.000 .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

since 13/10/1989

 

Sant'agata

, 9

- 13051

- Biella

(BI)

- IT -

 

PHONE

: 01584891

 

PHONE

: 0158489323

 

PHONE

: 0158489350

 

FAX

: 0158496161

 

Legal mail

: CHIORINO.SPA@PEC.CHIORINO.COM

 

-

Branch

(Factory)

since 03/09/2001

 

Mongilardi

, 20/A

- 13051

- Biella

(BI)

- IT -

 

-

Branch

(Warehouse)

since 16/11/2004

 

Cavour

, 120

- 13052

- Gaglianico

(BI)

- IT -

 

Employees

: 265

 

Assistants

: 1

 

Fittings and Equipment for a value of 5.000.000

Eur

 

Stocks for a value of 11.980.000

Eur

 

Trade organization: direct or by agents.

The company sells in Italy and abroad.

 

Import comes generally from the following nations:

- Germany

 

- Great Britain

 

- Belgium

 

- Spain

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

27/10/1989

 

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Invest 1906 S.r.l.

20/12/1989

 

CEASINGS/INCORPORATIONS/MERGES:

 

The firm absorbed by merging of

 

Chiorino - S.p.a.

 

Sant'agata

, 9

, 13900

, Biella

(BI)

- IT -

 

Date

:

20/12/1989

 

The firm absorved

 

Chiorino - S.p.a.

 

Sant'agata

, 9

, 13900

, Biella

(BI)

- IT -

 

Date

:

20/12/1989

 

The firm absorved

 

CHIORINO - S.P.A.

 

, BIELLA

(VC)

- IT -

 

Date

:

20/12/1989

 

Project of merging by taking over of

 

Chiorino Holding - S.r.l.

 

Sant'agata

, 9

, 13900

, Biella

(BI)

- IT -

 

Fiscal Code: 02283930028

 

Date

Merging/splitting-up project:

19/07/2013

 

The firm absorbed by merging of

 

Chiorino Holding - S.r.l.

 

Sant'agata

, 9

, 13900

, Biella

(BI)

- IT -

 

Fiscal Code: 02283930028

 

Date

:

09/10/2013

 

Project of splitting-up and tranfer into

 

Ilex 2015 S.r.l.

 

Sant'agata

, 9

, 13900

, Biella

(BI)

- IT -

 

Fiscal Code: 02595580024

 

Date

Merging/splitting-up project:

29/07/2015

 

Res.of Splitting-up and transfer of assets to

 

Ilex 2015 S.r.l.

 

Sant'agata

, 9

, 13900

, Biella

(BI)

- IT -

 

Fiscal Code: 02595580024

 

Date

Splitting-up:

10/09/2015

 

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 Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

45.203.555

Profit (Loss) for the period

5.293.333

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

43.149.390

Profit (Loss) for the period

3.026.357

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

41.808.347

Profit (Loss) for the period

3.211.504

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

38.347.784

Profit (Loss) for the period

3.147.119

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

29.291.248

Profit (Loss) for the period

491.790




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

212.864

. . Research,develop. and advert.expens.

. . Industrial patent rights

222.852

160.551

120.197

. . Concessions,licenses,trademarks.

389

518

648

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

. Total Intangible Fixed Assets

436.105

161.069

120.845

. TANGIBLE FIXED ASSETS

. . Real estate

2.863.484

3.000.778

3.025.833

. . Plant and machinery

4.973.766

4.841.139

4.205.944

. . Industrial and commercial equipment

22.002

86.569

480.667

. . Other assets

285.784

408.116

. . Assets under construction and advances

15.800

182.916

. Total Tangible fixed assets

8.160.836

8.336.602

7.895.360

. FINANCIAL FIXED ASSETS

. . Equity investments

23.607.794

3.503.687

3.503.689

. . . Equity invest. in subsidiary companies

21.916.116

3.503.686

3.503.686

. . . Equity invest. in associated companies

73.070

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

1.618.608

1

3

. . Financial receivables

1.749.124

6.640

6.140

. . . . Within 12 months

. . . . Beyond 12 months

1.749.124

6.640

6.140

. . . Receivab due from subsidiaries

1.742.484

. . . . Within 12 months

. . . . Beyond 12 months

1.742.484

. . . 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

6.640

6.640

6.140

. . . . Within 12 months

. . . . Beyond 12 months

6.640

6.640

6.140

. . Other securities

986.211

. . Own shares

. . . Total nominal value

. Total financial fixed assets

26.343.129

3.510.327

3.509.829

Total fixed assets

34.940.070

12.007.998

11.526.034

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

5.639.219

5.955.168

6.679.007

. . Work in progress and semimanufactured

6.186.581

6.121.804

5.936.786

. . Work in progress on order

. . Finished goods

151.764

150.133

178.459

. . Advance payments

. Total Inventories

11.977.564

12.227.105

12.794.252

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

20.516.763

20.767.520

21.593.858

. . Beyond 12 months

473.192

346.528

124.544

. . Trade receivables

19.878.889

19.591.797

19.909.136

. . . . Within 12 months

19.808.910

19.470.269

19.784.592

. . . . Beyond 12 months

69.979

121.528

124.544

. . Receivables due from subsid. comp.

225.000

250.000

. . . . Within 12 months

250.000

. . . . Beyond 12 months

225.000

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

290.676

. . . . Within 12 months

290.676

. . . . Beyond 12 months

. . Fiscal Receivables

589.354

158.357

551.335

. . . . Within 12 months

186.141

158.357

551.335

. . . . Beyond 12 months

403.213

. . Receivables for anticipated taxes

447.782

782.986

932.523

. . . . Within 12 months

447.782

782.986

932.523

. . . . Beyond 12 months

. . Receivables due from third parties

73.930

65.232

75.408

. . . . Within 12 months

73.930

65.232

75.408

. . . . Beyond 12 months

. Total Credits not held as fixed assets

20.989.955

21.114.048

21.718.402

. 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

160

160

160

. Total Financial Assets

160

160

160

. LIQUID FUNDS

. . Bank and post office deposits

601.524

325.616

711.264

. . Checks

. . Banknotes and coins

2.348

2.865

3.087

. Total Liquid funds

603.872

328.481

714.351

Total current assets

33.571.551

33.669.794

35.227.165

ADJUSTMENT ACCOUNTS

. Discount on loans

16.186

58.515

. Other adjustment accounts

Total adjustments accounts

16.186

58.515

TOTAL ASSETS

68.527.807

45.736.307

46.753.199

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

10.000.000

10.000.000

10.000.000

. Additional paid-in capital

. Revaluation reserves

8.213.671

8.213.671

8.213.671

. Legal reserve

1.367.363

1.216.045

1.055.470

. Reserve for Own shares

. Statute reserves

. Other reserves

12.478.119

7.577.570

6.526.641

. Accumulated Profits (Losses)

. Profit( loss) of the year

5.293.333

3.026.357

3.211.504

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

37.352.486

30.033.643

29.007.286

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

307.393

537

38.457

. . Other funds

593.925

593.925

Total Reserves for Risks and Charges

307.393

594.462

632.382

Employee termination indemnities

1.507.551

1.665.282

1.870.997

ACCOUNTS PAYABLE

. . . . Within 12 months

23.252.951

12.425.721

14.225.335

. . . . Beyond 12 months

6.107.426

1.017.199

1.017.199

. . 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

15.471.119

4.481.200

5.700.695

. . . . Within 12 months

10.910.030

3.464.001

4.683.496

. . . . Beyond 12 months

4.561.089

1.017.199

1.017.199

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

. . . . Within 12 months

. . . . Beyond 12 months

. . Trade payables

8.603.129

7.542.473

7.231.654

. . . . Within 12 months

8.603.129

7.542.473

7.231.654

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

140.478

. . . . Within 12 months

94.141

. . . . Beyond 12 months

46.337

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

1.500.000

562.144

. . . . Within 12 months

562.144

. . . . Beyond 12 months

1.500.000

. . Due to the tax authorities

700.517

428.187

761.721

. . . . Within 12 months

700.517

428.187

761.721

. . . . Beyond 12 months

. . Due to social security and welfare inst.

588.295

546.566

521.432

. . . . Within 12 months

588.295

546.566

521.432

. . . . Beyond 12 months

. . Other payables

2.356.839

444.494

464.888

. . . . Within 12 months

2.356.839

444.494

464.888

. . . . Beyond 12 months

Total accounts payable

29.360.377

13.442.920

15.242.534

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

Total adjustment accounts

TOTAL LIABILITIES

68.527.807

45.736.307

46.753.199

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

2.180.174

Risk accounts

1.035.211

1.124.018

1.135.828

Civil and fiscal norms relation

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

45.203.554

43.149.390

41.808.347

. Changes in work in progress

66.408

156.692

865.874

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

55.757

175.102

225.326

. . Contributions for operating expenses

. . Different income and revenues

55.757

175.102

225.326

Total value of production

45.325.719

43.481.184

42.899.547

PRODUCTION COSTS

. Raw material,other materials and consum.

18.946.962

18.763.578

20.017.284

. Services received

7.938.597

6.943.730

. Leases and rentals

8.281.590

. Payroll and related costs

11.390.028

10.819.169

10.671.428

. . Wages and salaries

8.330.435

7.858.859

7.592.555

. . Social security contributions

2.564.986

2.446.517

2.381.000

. . Employee termination indemnities

494.607

513.793

512.843

. . Pension and similar

. . Other costs

185.030

. Amortization and depreciation

1.609.894

1.452.830

2.187.245

. . Amortization of intangible fixed assets

169.115

74.419

888.136

. . Amortization of tangible fixed assets

1.340.779

1.278.411

1.199.109

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

100.000

100.000

100.000

. Changes in raw materials

315.949

736.747

-1.347.260

. Provisions to risk reserves

. Other provisions

. Other operating costs

388.328

287.739

225.373

Total production costs

40.932.751

39.998.660

38.697.800

Diff. between value and cost of product.

4.392.968

3.482.524

4.201.747

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

2.633.050

1.000.027

750.025

. . In subsidiary companies

1.974.947

1.000.000

750.000

. . In associated companies

. . In other companies

658.103

27

25

. Other financial income

973.481

1.822

5.808

. . Financ.income from receivables

62.136

. . . Towards subsidiary companies

62.136

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

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

. . Financ.income from secur. cur.assets

908.232

. . Financ.income other than the above

3.113

1.822

5.808

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

3.113

1.822

5.808

. Interest and other financial expense

-453.044

-162.722

-46.317

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

453.044

162.722

46.317

Total financial income and expense

3.153.487

839.127

709.516

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

361.242

. . Of equity investments

361.242

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

. . Of securities incl.among current assets

. Devaluation

-1.590.220

. . Of equity investments

-1.431.878

. . Of financial fixed assets (no equity inv)

-142.951

. . Of securities included among current ass

-15.391

Total adjustments to financial assets

-1.228.978

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

1.211.913

58.851

7.743

. . Gains on disposals

12.547

14.192

5.992

. . Other extraordinary income

1.199.366

44.659

1.751

. Extraordinary expense

-147.254

-25.382

-81.273

. . Losses on disposals

-7.127

-95

-42.197

. . Taxes relating to prior years

. . Other extraordinary expense

-140.127

-25.287

-39.076

Total extraordinary income and expense

1.064.659

33.469

-73.530

Results before income taxes

7.382.136

4.355.120

4.837.733

. Taxes on current income

2.088.803

1.328.763

1.626.229

. . current taxes

1.687.286

1.217.145

1.554.024

. . differed taxes(anticip.)

401.517

111.618

72.205

. Net income for the period

5.293.333

3.026.357

3.211.504

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

5.293.333

3.026.357

3.211.504

 

 

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

0,51

0,26

0,25

0,18

Elasticity Ratio

Units

0,49

0,74

0,75

0,80

Availability of stock

Units

0,17

0,27

0,27

0,20

Total Liquidity Ratio

Units

0,32

0,47

0,48

0,51

Quick Ratio

Units

0,01

0,01

0,02

0,02

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,61

0,40

0,47

2,38

Self Financing Ratio

Units

0,55

0,66

0,62

0,24

Capital protection Ratio

Units

0,59

0,57

0,54

0,68

Liabilities consolidation quotient

Units

0,33

0,22

0,20

0,18

Financing

Units

0,79

0,45

0,53

2,86

Permanent Indebtedness Ratio

Units

0,66

0,72

0,68

0,38

M/L term Debts Ratio

Units

0,11

0,06

0,06

0,11

Net Financial Indebtedness Ratio

Units

0,40

0,14

0,17

1,00

CORRELATION

Fixed assets ratio

Units

1,29

2,72

2,77

1,78

Current ratio

Units

1,44

2,71

2,48

1,25

Acid Test Ratio-Liquidity Ratio

Units

0,93

1,73

1,58

0,84

Structure's primary quotient

Units

1,07

2,50

2,52

1,07

Treasury's primary quotient

Units

0,03

0,03

0,05

0,03

Rate of indebtedness ( Leverage )

%

183,46

152,28

161,18

408,81

Current Capital ( net )

Value

10.318.600

21.244.073

21.001.830

312.424

RETURN

Return on Sales

%

15,27

10,38

12,91

2,67

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

%

14,17

10,08

11,07

3,20

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

%

19,76

14,50

16,68

8,58

Return on Investment ( R.O.I. )

%

6,41

7,61

8,99

4,36

Return/ Sales

%

9,72

8,07

10,05

3,63

Extra Management revenues/charges incid.

%

120,50

86,90

76,43

23,99

Cash Flow

Value

6.903.227

4.479.187

5.398.749

112.609

Operating Profit

Value

4.392.968

3.482.524

4.201.747

127.644

Gross Operating Margin

Value

6.002.862

4.935.354

6.388.992

230.719

MANAGEMENT

Credits to clients average term

Days

158,31

163,46

171,43

101,46

Debts to suppliers average term

Days

135,43

101,69

104,07

94,66

Average stock waiting period

Days

95,39

102,01

110,17

56,34

Rate of capital employed return ( Turnover )

Units

0,66

0,94

0,89

1,34

Rate of stock return

Units

3,77

3,53

3,27

6,30

Labour cost incidence

%

25,20

25,07

25,52

12,44

Net financial revenues/ charges incidence

%

6,98

1,94

1,70

-1,48

Labour cost on purchasing expenses

%

27,83

27,05

27,58

12,90

Short-term financing charges

%

1,54

1,21

0,30

3,49

Capital on hand

%

151,60

106,00

111,83

74,43

Sales pro employee

Value

127.333

127.660

125.550

253.464

Labour cost pro employee

Value

32.084

32.009

32.046

32.147



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

:

188.197

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 923 significant companies.

 

The companies cash their credits on an average of 101 dd.

The average duration of suppliers debts is about 95 dd.

The sector's profitability is on an average of 2,67%.

The labour cost affects the turnover in the measure of 12,44%.

Goods are held in stock in a range of 56 dd.

The difference between the sales volume and the resources used to realize it is about 1,34.

The employees costs represent the 12,90% of the production costs.



Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 27.019 protested subjects are found; in the province they count to 1.057.

The insolvency index for the region is 0,63, , while for the province it is 0,56.

Total Bankrupt companies in the province : 750.

Total Bankrupt companies in the region : 14.165.

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.64.88

UK Pound

1

Rs.99.89

Euro

1

Rs.72.06

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

TRU

 

               

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.