MIRA INFORM REPORT

Report No. :	486402
Report Date :	17.01.2018

IDENTIFICATION DETAILS

Name :	ZEGNA BARUFFA LANE BORGOSESIA S.P.A
Registered Office :	Via B. Sella, 140 13825 - Valle Mosso
Country :	Italy
Financials (as on) :	31.12.2016
Date of Incorporation :	16.11.1993
Legal Form :	Joint stock company
Line of Business :	· Subject is engaged in Manufacture of textiles · Weaving of textiles.
No. of Employees :	From 750 to 1000

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
Italy	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

ITALY - ECONOMIC OVERVIEW

Italy has a diversified economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is higher. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors.

Italy is the third-largest economy in the euro zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 133% of GDP in 2016. 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 longstanding structural impediments to growth, such as labor market inefficiencies, a sluggish judicial system, and a weak banking sector. Italy’s economy returned to modest growth in late 2014 for the first time since late 2011. In 2015-16, Italy’s economy grew 0.7% each year. In 2016, overall unemployment was 11.7%, but youth unemployment remains high at 37.1%.

Source : CIA

Company name

Zegna Baruffa Lane Borgosesia S.p.a.

Via B. Sella, 140

13825 - Valle Mosso (BI) -IT-

Summary

Fiscal Code	:	01497250132
Legal Form	:	Joint stock company
start of Activities	:	16/11/1993
Equity	:	Over 2.582.254
Turnover Range	:	100.000.000/150.000.000
Number of Employees	:	from 750 to 1000

Activity

MANUFACTURE OF TEXTILES

Weaving of textiles

Legal Data

Legal Form : Joint stock company

Fiscal Code : 01497250132

Foreign Trade Reg. no. : BI007517 since 13/05/1994

Chamber of Commerce no. : 161066 of Biella since 31/12/1992

Chamber of Commerce no. : 1243420 of Milano

Chamber of Commerce no. : 161066 of Vercelli since 31/12/1992

Firms' Register : BI004-13815 of Biella since 19/02/1996

V.A.T. Code : 01734930025

Tribunal Co. Register : 13815 of since 14/09/1992

Foundation date	: 01/10/1984
Establishment date	: 01/10/1984
Start of Activities	: 16/11/1993
Legal duration	: 31/12/2035
Nominal Capital	: 43.120.000
Subscribed Capital	: 43.120.000
Paid up Capital	: 43.120.000

Legal mail :

BARUFFA@PEC.BARUFFA.COM

Members

Camaschella

Massimo

Born in Varallo

(VC)

on 16/01/1961

- Fiscal Code : CMSMSM61A16L669V

Residence:

Cesare Battisti

, 153

- 13019

Varallo

(VC)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/11/2014

No Prejudicial events are reported

No Protests registered

Borsetti

Pier Giacomo

Born in Biella

(VC)

on 29/06/1955

- Fiscal Code : BRSPGC55H29A859I

Residence:

Roma

, 81

- 13845

Ronco Biellese

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017

Botto Poala

Claudio

Born in Torino

(TO)

on 24/10/1952

- Fiscal Code : BTTCLD52R24L219K

Residence:

De Agostini

, 46

- 13814

Pollone

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017

Borsetti

Alberto

Born in Torino

(TO)

on 20/04/1959

- Fiscal Code : BRSLRT59D20L219H

Residence:

Benedetto Croce

, 25

- 13814

Pollone

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017

Botto Poala

Alfredo

Born in Torino

(TO)

on 02/11/1959

- Fiscal Code : BTTLRD59S02L219C

Residence:

Trieste

, 51

- 13900

Biella

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017
Board Chairman	15/05/2017
Managing Director	15/05/2017

No Prejudicial events are reported

No Protests registered

Finchi S.r.l.

:

Milano

, 160

- 13856

Vigliano Biellese

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Partner

No Prejudicial events are reported

No Protests registered

Raiteri

Carlo

Born in Borgosesia

(VC)

on 19/05/1955

- Fiscal Code : RTRCRL55E19B041H

Residence:

Partigiani

, 25

- 13011

Borgosesia

(VC)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/01/2009

No Prejudicial events are reported

No Protests registered

Salvemini

Severino Antonio

Born in Biella

(VC)

on 21/10/1950

- Fiscal Code : SLVSRN50R21A859K

Residence:

Anelli

, 13

- 20100

Milano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017

Palmieri

Sandro

Born in Borgosesia

(VC)

on 29/01/1958

- Fiscal Code : PLMSDR58A29B041V

Residence:

San Grato

, 3

- 13037

Serravalle Sesia

(VC)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2010

No Protests registered

Todisco

Paolo

Born in Biella

(VC)

on 26/03/1959

- Fiscal Code : TDSPLA59C26A859H

Residence:

Cantone Ramella Gal

, 9

- 13900

Biella

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017
Managing Director	15/05/2017

No Prejudicial events are reported

No Protests registered

Thabo S.r.l.

:

Vittorio Veneto

, 15

- 13900

Biella

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Partner

No Prejudicial events are reported

No Protests registered

Bandi

Luciano

Born in Borgosesia

(VC)

on 10/02/1953

- Fiscal Code : BNDLCN53B10B041V

Residence:

Per Pianezza

, 5

- 13011

Borgosesia

(VC)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017

Busato

Paolo

Born in Biella

(VC)

on 23/11/1952

- Fiscal Code : BSTPLA52S23A859C

Residence:

Bagneri

, 12

- 13817

Sordevolo

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	15/05/2017
Managing Director	15/05/2017

No Prejudicial events are reported

No Protests registered

Bonino

Vittorio

Born in Biella

(VC)

on 01/12/1971

- Fiscal Code : BNNVTR71T01A859G

Residence:

Dante

, 25

- 13876

Sandigliano

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	07/10/2016

No Prejudicial events are reported

No Protests registered

Buscaglione

Andrea

Born in Biella

(VC)

on 08/02/1971

- Fiscal Code : BSCNDR71B08A859M

Residence:

Q. Sella

, 35/B

- 13852

Cerreto Castello

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2010

No Protests registered

Mazzia Piciot

Emanuele

Born in Biella

(VC)

on 20/10/1976

- Fiscal Code : MZZMNL76R20A859G

Residence:

Duca D'aosta

, 32

- 13843

Pettinengo

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2010

No Protests registered

Festa

Pierino

Born in Luzzi

(CS)

on 07/05/1962

- Fiscal Code : FSTPRN62E07E773D

Residence:

Per Castelletto Cervo

, 220

- 13836

Cossato

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	09/05/2014

No Protests registered

Gili

Maurizio

Born in Biella

(VC)

on 08/08/1959

- Fiscal Code : GLIMRZ59M08A859M

Residence:

Iv Novembre

, 8

- 13816

Miagliano

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	30/03/2010

No Prejudicial events are reported

No Protests registered

Pancotti

Claudio

Born in Buenos Aires

( )

on 05/09/1953

- Fiscal Code : PNCCLD53P05Z600Z

Residence:

Campile

, 208

- 13878

Candelo

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	30/03/2010

No Protests registered

Merlin

Gianpiero

Born in Vigliano Biellese

(VC)

on 28/04/1962

- Fiscal Code : MRLGPR62D28L880T

Residence:

Lavalle

, 6

- 13878

Candelo

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	30/03/2010

No Protests registered

Mattassoglio

Nicola

Born in Biella

(VC)

on 01/06/1979

- Fiscal Code : MTTNCL79H01A859M

Residence:

A. Lamarmora

, 15

- 13900

Biella

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	02/02/2017

No Protests registered

Rustico

Andrea

Born in Borgosesia

(VC)

on 09/05/1970

- Fiscal Code : RSTNDR70E09B041A

Residence:

Tonetti

, 6/B

- 13011

Borgosesia

(VC)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	09/05/2014

No Protests registered

Angeli

Claudio

Born in Biella

(VC)

on 16/01/1963

- Fiscal Code : NGLCLD63A16A859P

Residence:

Martiri Liberta'

, 375

- 13836

Cossato

(BI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	03/12/2012

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.

Botto Poala

Alfredo

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Pettinatura Lane Di Romagnano Sesia S.p.a.	Biella (BI) - IT -	00156420028	Director	Withdrawn	Registered
Cascami Seta - Filature Seriche Riunite- S.p.a.	Valle Mosso (VC) - IT -	01348140300	Managing Director	Withdrawn	Registered
Cascami Seta - Filature Seriche Riunite- S.p.a.	Valle Mosso (VC) - IT -	01348140300	Director	Withdrawn	Registered
Tinbo.lab 1867 S.r.l.	Ponderano (BI) - IT -	00488470022	Director	Withdrawn	Registered
Botto Poala S.p.a	Lessona (BI) - IT -	01224470029	Managing Director	Withdrawn	Registered
Botto Poala S.p.a	Lessona (BI) - IT -	01224470029	Director	Withdrawn	Registered
Botto Poala S.p.a	Lessona (BI) - IT -	01224470029	Board Chairman	Withdrawn	Registered
Finbo Di Paolo Botto Poala E C. - Societa' In Accomandita Per Azi Oni	Valle Mosso (BI) - IT -	00161640024	General Partner	Withdrawn	Registered
Le Ciminiere S.r.l.	Valle Mosso (BI) - IT -	01407270022	Managing Director	Active	Registered
Le Ciminiere S.r.l.	Valle Mosso (BI) - IT -	01407270022	Director	Active	Registered
Finbo Di Paolo Botto Poala E C. - Societa' In Accomandita Per Azi Oni	Valle Mosso (BI) - IT -	00161640024	General Partner	Withdrawn	Registered
Pitti Immagine S.r.l.	Firenze (FI) - IT -	03443240480	Director	Withdrawn	Registered
Le Ciminiere S.r.l.	Valle Mosso (BI) - IT -	01407270022	Managing Director	Withdrawn	Registered
Le Ciminiere S.r.l.	Valle Mosso (BI) - IT -	01407270022	Director	Withdrawn	Registered
Pallacanestro Biella Societa' Sportiva Dilettantistica A Responsabilita' Limitat	Biella (BI) - IT -	90026890021	Director	Active	Registered
Thabo S.r.l.	Biella (BI) - IT -	02273250023	Sole Director	Active	Registered
Jonny Societa' Semplice	Biella (BI) - IT -	90040500028	Partner	Withdrawn	Registered
Adi S.r.l.	Biella (BI) - IT -	02494240027	Managing Director	Active	Registered
Adi S.r.l.	Biella (BI) - IT -	02494240027	Director	Active	Registered
Adi S.r.l.	Biella (BI) - IT -	02494240027	Board Chairman	Active	Registered

Todisco

Paolo

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Botto Poala S.p.a	Lessona (BI) - IT -	01224470029	Managing Director	Withdrawn	Registered
Botto Poala S.p.a	Lessona (BI) - IT -	01224470029	Director	Withdrawn	Registered
Lane Borgosesia - S.r.l.	Valle Mosso (BI) - IT -	04894950585	Procurator	Withdrawn	Registered
Immobiliare Baruffa Ii - S.r.l. Societa'Unipersonale	Borgosesia (VC) - IT -	00454880022	Sole Director	Withdrawn	Registered
Lane Borgosesia Due S.r.l.	Quarona (VC) - IT -	01911900130	Procurator	Withdrawn	Ceased
Set Line - S.r.l.	Valle Mosso (BI) - IT -	01707600027	Procurator	Withdrawn	Ceased
Filofin S.r.l.	Valle Mosso (BI) - IT -	05472950012	Procurator	Withdrawn	Ceased
Immobiliare Baruffa S.r.l. Societa' UniPersonale	Valle Mosso (BI) - IT -	02128850027	Procurator	Withdrawn	Registered

Busato

Paolo

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Consorzio Concessionari Per L'uso DelleAcque Del Torrente Cervo Della Roggia Tr	Tollegno (BI) - IT -	90027010025	Director	Withdrawn	Registered

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

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

Capital Shareholders

Shareholders' list as at date of data collection:

Firm's Style / Name	Seat / Residence	Fiscal Code	Owned Shares	% Ownership
Botto Poala Alfredo	Biella - IT -	BTTLRD59S02L219C	3.595.838 .Eur	8,33
Finchi S.r.l.	Vigliano Biellese - IT -	00466830023	16.381.948 .Eur	37,99
Thabo S.r.l.	Biella - IT -	02273250023	14.865.074 .Eur	34,47
Botto Poala Maria Elisabetta	Milano - IT -	BTTMLS52C60L219C	3.595.836 .Eur	8,33
Finanziaria 1867 S.r.l.	Biella - IT -	02434030025	4.650.635 .Eur	10,78
Prina Mara		PRNMRA44B62L219S	30.669 .Eur	0,07

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
Acquedotto Industriale Vallestrona Socie ta' Consortile A Responsa Bilita' Limita	Valle Mosso - IT -	00204600027	1.690 .Eur	1,26			Active
Le Ciminiere S.r.l.	Valle Mosso - IT -	01407270022	49.452 .Eur	6,59			Active
C.p.f. -*consorzio Promozione Filati	Prato - IT -	02114030485					Active
Biella Energia	Biella - IT -	01992690022					Active

Firm's location and structure

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

-	Legal and operative seat

B. Sella

, 140

- 13068

- Valle Mosso

(BI)

- IT -

Total Surface: 71 Sq.mt.

PHONE

: 015701

PHONE

: 0157001

FAX	: 015700386

Legal mail

: BARUFFA@PEC.BARUFFA.COM

-

Branch

(Factory)

since 16/11/1993

Magni

, 3

- 13011

- Borgosesia

(VC)

- IT -

PHONE

: 016323201

-

Branch

(Warehouse)

since 16/11/1993

Statale 142

, Loc: S. MARIA

- 13060

- Roasio

(VC)

- IT -

PHONE

: 016323201

-

Branch

(Store)

since 03/08/2000

Loc: ROVELLA

, Loc: ROVELLA

- 13068

- Valle Mosso

(BI)

- IT -

PHONE

: 0157001

-

Branch

(Store)

since 01/10/2004

Quintino Sella

, 34

- 13060

- Cerreto Castello

(BI)

- IT -

-

Branch

(Factory)

since 01/01/2005

Rovella

, 2

- 13068

- Valle Mosso

(BI)

- IT -

-

Branch

(Store)

since 02/01/2008

Luigi Zignone

, 32

- 13017

- Quarona

(VC)

- IT -

-

Branch

(Shop)

since 12/01/2009

Magni

, 2

- 13011

- Borgosesia

(VC)

- IT -

Total Surface: 66 Sq.mt.

-

Branch

(Factory)

since 01/10/2009

Milano

, 160

- 13069

- Vigliano Biellese

(BI)

- IT -

-

Branch

(Store)

since 01/06/2013

F. Cesone

, 15

- 13060

- Lessona

(BI)

- IT -

-

Branch

(Factory)

since 01/10/2016

F. Cesone

, 15

- 13060

- Lessona

(BI)

- IT -

-

Branch

(Store)

since 01/10/2016

Cesone

, 6

- 13060

- Lessona

(BI)

- IT -

-

Branch

(Factory)

since 01/10/2016

Cesone

, 26

- 13060

- Lessona

(BI)

- IT -

Employees

: 804

Fittings and Equipment for a value of 16.840.000

Eur

Stocks for a value of 79.780.000

Eur

Trade organization: direct or by agents.

Import comes generally from the following nations:

- Germany

- Holland

- France

The subject firm uses the following own selling brands:

- ZEGNA

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	16/11/1993

COMPANY STYLE MODIFICATIONS:

Former Style	New Style	Changement Date
Zetabifin S.r.l.	Zegna Baruffa Lane Borgosesia S.p.A.	16/11/1993

CEASINGS/INCORPORATIONS/MERGES:

The firm absorbed by merging of

Zegna Baruffa - Lane Borgosesia - S.p.a.

B. Sella

, 140

, 13068

, Valle Mosso

(VC)

- IT -

Date

:

16/11/1993

Project of merging by taking over of

Lane Borgosesia Due S.r.l.

Luigi Zignone

, 32

, 13017

, Quarona

(VC)

- IT -

Fiscal Code: 01911900130

Date

Merging/splitting-up project:

15/05/2007

The firm absorbed by merging of

Lane Borgosesia Due S.r.l.

Luigi Zignone

, 32

, 13017

, Quarona

(VC)

- IT -

Fiscal Code: 01911900130

Date

:

10/10/2007

The firm took over the activity of

Effedici S.r.l.

Milano

, 160

, 13069

, Vigliano Biellese

(BI)

- IT -

Fiscal Code: 00504390022

Date

:

30/09/2009

Project of merging by taking over of

Botto Poala S.p.a

F. Cesone

, 15

, 13853

, Lessona

(BI)

- IT -

Fiscal Code: 01224470029

Date

Merging/splitting-up project:

27/04/2016

The firm absorbed by merging of

Botto Poala S.p.a

F. Cesone

, 15

, 13853

, Lessona

(BI)

- IT -

Fiscal Code: 01224470029

Date

:

02/08/2016

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.

National Real Estates Survey

The firm under review, by the reported percentages, owns the following real estates:

Town	Cadastre	No. Immovables	Up to Date
BIOGLIO (BI)	Buildings	8	12/01/2018
BIOGLIO (BI)	Land	43	12/01/2018
CAMANDONA (BI)	Land	10	12/01/2018
CERRETO CASTELLO (BI)	Buildings	1	12/01/2018
LESSONA (BI)	Buildings	8	12/01/2018
LESSONA (BI)	Land	24	12/01/2018
PISTOLESA (BI)	Buildings	5	12/01/2018
PISTOLESA (BI)	Land	8	12/01/2018
STRONA (BI)	Land	1	12/01/2018
VALLE MOSSO (BI)	Buildings	31	12/01/2018
VALLE MOSSO (BI)	Land	9	12/01/2018
VEGLIO (BI)	Land	13	12/01/2018
VIGLIANO BIELLESE (BI)	Buildings	12	12/01/2018
BORGOSESIA (VC)	Buildings	4	12/01/2018
QUARONA (VC)	Buildings	5	12/01/2018
ROASIO (VC)	Buildings	9	12/01/2018

Buildings Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Categorie	Classe	Consistence	Cadastrial Rent	Part No.
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, 18 Piano T-1 - 2-3	5	443	1	cat. A/5	1	8,5 vani	Euro:153,65
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, 18 Piano T	5	443	2	cat. C/2	U	116 mq	Euro:191,71
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, 18 Piano T	5	443	3	cat. C/6	U	12 mq	Euro:30,99
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, 18 Piano 1	5	443	4	cat. C/7	U	144 mq	Euro:66,93
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, Piano T-1 int. 1	5	98	1	cat. A/3	U	6 vani	Euro:309,87
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, Piano T	5	98	2	cat. C/6	U	275 mq	Euro:710,13
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, Piano 1	5	98	3	cat. C/7	U	203 mq	Euro:94,36
B	Proprieta' per 1/1	BIOGLIO (BI) VIA DELLA ROVELLA, SNC Piano T	7	414		cat. C/2	U	1 mq	Euro:1,65
B	Proprieta' per 1/1	CERRETO CASTELLO (BI) VIA QUINTINO SELLA, 34 Piano T	1	639		cat. D/1			Euro: 9.084,99	1000239
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 14 Piano 1 - 0002	4	124	2	cat. A/4	1	3,5 vani	Euro:117,49
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 14 Piano 2	4	124	3	cat. A/4	1	4 vani	Euro:134,28
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 13 Piano T - 0001	4	277	7	cat. D/1			Euro: 73.964,37
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 11 Piano T	4	435		cat. F/1
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 6 Piano 1 int. 10	7	197	10	cat. A/4	2	6,5 vani	Euro:255,13
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 6 Piano T/1 - 0002 int. 11	7	197	11	cat. A/4	1	6 vani	Euro:201,42
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 6 Piano T-1 - S1	7	197	14	cat. D/1			Euro: 33.621,34
B	Proprieta' per 1/1	LESSONA (BI) VIA CESONE FRANCESCO, 6 Piano T-S1	7	197	15	cat. D/1			Euro: 6.879,21
B	Proprieta' per 1/1	PISTOLESA (BI) REGIONE POALA, SNC Piano T	4	156	3	cat. D/7			Euro: 3.010,00
B	Proprieta' per 1/1	PISTOLESA (BI) REGIONE POALA, SNC Piano T	4	156	4	cat. C/7	U	18 mq	Euro:8,18
B	Proprieta' per 1/1	PISTOLESA (BI) REGIONE POALA, SNC Piano S1	4	156	6	cat. D/7			Euro: 2.880,00
B	Proprieta' per 1/1	PISTOLESA (BI) REGIONE POALA, SNC Piano S2 - S3	4	156	7	cat. F/2
B	Proprieta' per 1/1	PISTOLESA (BI) REGIONE POALA, SN Piano T-1	5	204		cat. D/1			Euro: 266,00
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) Piano - 0000 int.	11	194	3	cat. F/1
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, Piano T int. C16	11	194	7	cat. F/1				190
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, Piano T	11	195	2	cat. F/1
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, 145 Piano S1-T - 1-2	11	195	3	cat. A/10	U	14 vani	Euro:3.868,26
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, 108 Piano	11	214	1	cat. D/1			Euro: 105.357,21	1001194
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, 35 Piano 1	11	214	2	cat. A/4	1	4,5 vani	Euro:151,06	443
B	Proprieta' superficiaria per 1/1	VALLE MOSSO (BI) VIA PRADONNE, Piano T - 0001	11	214	3	cat. D/1			Euro: 2.840,51	1001193
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, 108 Piano T int. 18	11	263	2	cat. C/1	4	33 mq	Euro:531,74	1001194
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BATTUR, Piano 3	11	263	3	cat. A/3	1	2 vani	Euro:103,29
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BATTUR, Piano 3	11	263	4	cat. A/3	2	5 vani	Euro:309,87
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BATTUR, Piano 4	11	263	5	cat. A/3	1	4 vani	Euro:206,58
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BATTUR, Piano 4	11	263	6	cat. A/3	1	3 vani	Euro:154,94
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) Piano	11	290	1	cat. F/1
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) Piano	11	290	2	cat. F/1
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, Piano	11	354		cat. F/1				443
B	Proprieta'; Superficie per 1/1	VALLE MOSSO (BI) VIA PRADONNE, 1 Piano T-1	11	396	1	cat. D/1			Euro: 19.604,70
B	Superficie per 1/1; Proprieta'	VALLE MOSSO (BI) VIA PRADONNE, Piano 2	11	396	2	cat. D/1			Euro: 83,20
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA PRADONNE, Piano S1 - S2	11	404	1	cat. D/1			Euro: 7.230,40
B	Proprieta'; Superficie per 1/1	VALLE MOSSO (BI) VIA PRADONNE, Piano T	11	404	2	cat. D/1			Euro: 78,00
B	Superficie per 1/1; Proprieta'	VALLE MOSSO (BI) VIA PRADONNE, Piano T	11	404	3	cat. D/1			Euro: 696,00
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, Piano T int. C18	11	434	8	cat. F/1
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA PRADONNE, Piano T-1 - 2-S1	11	435	8	cat. D/1			Euro: 17.559,53
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, Piano	11	436		cat. F/1
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) Piano	11	440	1	cat. F/1
B	Proprieta' per 1000/1000	VALLE MOSSO (BI) Piano	11	440	2	cat. F/1
B	Proprieta' per 1/1	VALLE MOSSO (BI) VIA BARTOLOMEO SELLA, Piano	11	441		cat. F/1
B	Proprieta' per 1/1	VALLE MOSSO (BI) REGIONE ROVELLA, Piano T - S1	14	250		cat. D/7			Euro: 2.788,87	1001194
B	Proprieta' per 1/1	VALLE MOSSO (BI) REGIONE ROVELLA, Piano 1	14	257		cat. D/1			Euro: 3.010,94	1976
B	Proprieta' per 1/1	VALLE MOSSO (BI) REGIONE ROVELLA, Piano T int. 1	18	372	10	cat. F/1
B	Proprieta' per 1/1	VALLE MOSSO (BI) REGIONE ROVELLA, Piano T int. 4	18	372	13	cat. D/1			Euro: 36,15
B	Proprieta' per 1/1	VALLE MOSSO (BI) REGIONE ROVELLA, Piano S1-T - 0001	18	372	15	cat. D/7			Euro: 20.658,28
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 122 Piano T - 0001 int. 1	10	241	3	cat. A/4	1	3 vani	Euro:125,50	825
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 122 Piano 1 int. 2	10	241	4	cat. A/4	2	3,5 vani	Euro:171,72	825
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 122 Piano 2 int. 3	10	241	5	cat. A/4	2	3,5 vani	Euro:171,72	825
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MOLINO, 7 Piano T - 0001	10	246		cat. A/4	1	4 vani	Euro:167,33
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 236 Piano S1 - T	10	353	1	cat. A/3	1	8 vani	Euro:495,80
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 228 Piano T - 0001 int. 2	10	353	3	cat. A/3	1	5 vani	Euro:309,87
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 228 Piano T	10	353	4	cat. F/1
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MILANO, 228 Piano S1-T - 1-2	10	353	5	cat. D/1			Euro: 129.613,00
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MOLINO, SNC Piano	11	726		cat. F/1
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MOLINO, SNC Piano T - 0001	11	727		cat. F/1
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MOLINO, 9 Piano T	11	748	1	cat. A/4	2	4 vani	Euro:196,25
B	Proprieta' per 1/1	VIGLIANO BIELLESE (BI) VIA MOLINO, 9 Piano S1 - T	11	748	2	cat. A/3	1	4 vani	Euro:247,90
B	Proprieta' per 1/1	BORGOSESIA (VC) LARGO MAGNI, 3 Piano T	546	47	10	zona1 cat. C/1	7	110 mq	Euro:3.419,98
B	Proprieta' per 1/1	BORGOSESIA (VC) LARGO MAGNI, 3 Piano 1	546	47	3	zona1 cat. A/4	2	5 vani	Euro:196,25
B	Proprieta' per 1/1	BORGOSESIA (VC) VIA LAVATOIO, Piano T-1 - 2-3	546	47	4	zona1 cat. A/5	1	2 vani	Euro:49,58
B	Proprieta' per 1/1	BORGOSESIA (VC) LARGO MAGNI, 3 Piano T-1 - 2-S1	546	47	7	zona1 cat. D/1			Euro: 278.648,00
B	Proprieta' per 1/1	QUARONA (VC) VIA LUIGI ZIGNONE, 32 Piano 1	512	628	4	cat. A/4	2	3,5 vani	Euro:140,99
B	Proprieta' per 1/1	QUARONA (VC) VIA LUIGI ZIGNONE, 32 Piano T-1 - 2-S1	512	628	5	cat. D/1			Euro: 15.658,97
B	Proprieta' per 1/1	QUARONA (VC) VIA LUIGI ZIGNONE, 32 Piano 1	512	628	6	cat. A/3	U	7 vani	Euro:433,82
B	Proprieta' per 1/1	QUARONA (VC) VIA LUIGI ZIGNONE, Piano T	512	633	1	cat. F/1
B	Proprieta' per 1/1	QUARONA (VC) VIA LUIGI ZIGNONE, Piano T	512	633	2	cat. F/1
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano T	53	215		cat. D/7			Euro: 8.360,40
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano 1 - S1	53	216	2	cat. A/2	U	5 vani	Euro:348,61
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano 1 - S1	53	216	3	cat. A/2	U	5 vani	Euro:348,61
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano T	53	216	4	cat. C/6	2	24 mq	Euro:55,78
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano T	53	216	5	cat. C/6	2	18 mq	Euro:41,83
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano T	53	216	6	cat. C/6	2	55 mq	Euro:127,82
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, Piano 2	53	216	7	cat. A/2	U	5 vani	Euro:348,61
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, Piano 2	53	216	8	cat. A/2	U	6 vani	Euro:418,33
B	Proprieta' per 1/1	ROASIO (VC) VIA STATALE, 142 Piano T - S1	53	216	9	cat. A/10	U	5 vani	Euro:1.032,91

Land Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Category	Class	Consistence	Cadastrial Rent	Part No.
L	Proprieta' per 1/1	BIOGLIO (BI)	5	118		BOSCO CEDUO	3	33 are 70 ca	R.D.Euro:0,87 R.A. Euro: 0,70	447
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	150		BOSCO CEDUO	2	6 are 80 ca	R.D.Euro:0,56 R.A. Euro: 0,25	72
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	152		BOSCO CEDUO	2	6 are 10 ca	R.D.Euro:0,50 R.A. Euro: 0,22	57
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	154		BOSCO CEDUO	2	4 are 90 ca	R.D.Euro:0,40 R.A. Euro: 0,18	72
L	Proprieta' per 1/1	BIOGLIO (BI)	5	155		FABB DIRUTO		80 ca	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	BIOGLIO (BI)	5	158		BOSCO CEDUO	2	15 are 80 ca	R.D.Euro:1,31 R.A. Euro: 0,57	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	161		PRATO	3	29 are	R.D.Euro:3,74 R.A. Euro: 5,24	1548
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	162		PRATO	3	6 are 70 ca	R.D.Euro:0,87 R.A. Euro: 1,21	72
L	Proprieta' per 1/1	BIOGLIO (BI)	5	167		FABB DIRUTO		66 ca	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	BIOGLIO (BI)	5	170		BOSCO CEDUO	3	1 ha 4 are 50 ca	R.D.Euro:2,70 R.A. Euro: 2,16	1548
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	180		PRATO	3	32 are 90 ca	R.D.Euro:4,25 R.A. Euro: 5,95	72
L	Proprieta' per 1/1	BIOGLIO (BI)	5	183		BOSCO CEDUO	3	1 ha 32 are 20 ca	R.D.Euro:3,41 R.A. Euro: 2,73	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	185		BOSCO CEDUO	3	1 ha 34 are 60 ca	R.D.Euro:3,48 R.A. Euro: 2,78	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	22		BOSCO CEDUO	2	9 are 20 ca	R.D.Euro:0,76 R.A. Euro: 0,33	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	265		BOSCO CEDUO	3	63 are	R.D.Euro:1,63 R.A. Euro: 1,30	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	269		BOSCO CEDUO	3	77 are	R.D.Euro:1,99 R.A. Euro: 1,59	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	365		BOSCO CEDUO	3	28 are 30 ca	R.D.Euro:0,73 R.A. Euro: 0,58	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	40		BOSCO CEDUO	3	4 are 20 ca	R.D.Euro:0,11 R.A. Euro: 0,09	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	400		BOSCO CEDUO	2	16 are 70 ca	R.D.Euro:1,38 R.A. Euro: 0,60	447
L	Proprieta' per 1/1	BIOGLIO (BI)	5	403		BOSCO CEDUO	2	14 are 70 ca	R.D.Euro:1,21 R.A. Euro: 0,53	447
L	Proprieta' per 1/1	BIOGLIO (BI)	5	41		BOSCO CEDUO	3	1 ha 60 are 70 ca	R.D.Euro:4,15 R.A. Euro: 3,32	1548
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	432		BOSCO CEDUO	2	2 are 20 ca	R.D.Euro:0,18 R.A. Euro: 0,08	57
L	Proprieta' per 1/2	BIOGLIO (BI)	5	435		BOSCO CEDUO	2	1 are 90 ca	R.D.Euro:0,16 R.A. Euro: 0,07	1526
L	Proprieta' per 1000/1000	BIOGLIO (BI)	5	436		BOSCO CEDUO	2	70 ca	R.D.Euro:0,06 R.A. Euro: 0,03	1526
L	Proprieta' per 1/1	BIOGLIO (BI)	5	48		BOSCO CEDUO	3	8 ha 65 are 60 ca	R.D.Euro:22,35 R.A. Euro: 17,88	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	51		PRATO	4	1 ha 93 are 90 ca	R.D.Euro:10,01 R.A. Euro: 20,03	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	52		PRATO	3	2 ha 42 are 30 ca	R.D.Euro:31,28 R.A. Euro: 43,80	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	89		BOSCO CEDUO	2	73 are 50 ca	R.D.Euro:6,07 R.A. Euro: 2,66	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	90		BOSCO CEDUO	2	73 are 60 ca	R.D.Euro:6,08 R.A. Euro: 2,66	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	91		BOSCO CEDUO	2	49 are 80 ca	R.D.Euro:4,12 R.A. Euro: 1,80	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	92		PASCOLO	U	23 are 90 ca	R.D.Euro:1,85 R.A. Euro: 0,86	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	94		FABB DIRUTO		48 ca	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	BIOGLIO (BI)	5	95		FRUTTETO	U	11 are	R.D.Euro:2,84 R.A. Euro: 5,68	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	96		FABB DIRUTO		2 are	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	BIOGLIO (BI)	5	97		PASCOLO	U	1 ha 4 are 50 ca	R.D.Euro:8,10 R.A. Euro: 3,78	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	5	99		BOSCO CEDUO	2	7 ha 73 are 30 ca	R.D.Euro:63,90 R.A. Euro: 27,96	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	8	52		BOSCO CEDUO	3	18 are 70 ca	R.D.Euro:0,48 R.A. Euro: 0,39	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	8	59		PASCOLO	U	11 are 50 ca	R.D.Euro:0,89 R.A. Euro: 0,42	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	8	60		FABB DIRUTO		1 are 90 ca	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	BIOGLIO (BI)	8	61		BOSCO CEDUO	3	22 are 40 ca	R.D.Euro:0,58 R.A. Euro: 0,46	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	8	63		BOSCO CEDUO	3	5 are 40 ca	R.D.Euro:0,14 R.A. Euro: 0,11	1548
L	Proprieta' per 1/1	BIOGLIO (BI)	8	71		BOSCO CEDUO	3	98 are	R.D.Euro:2,53 R.A. Euro: 2,02	1548
L	Proprieta' per 1000/1000	BIOGLIO (BI)	9	256		PRATO	3	78 ca	R.D.Euro:0,10 R.A. Euro: 0,14	478
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	283		BOSCO MISTO	U	11 are	R.D.Euro:1,42 R.A. Euro: 0,34	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	284		BOSCO CEDUO	2	68 are 30 ca	R.D.Euro:5,64 R.A. Euro: 2,47	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	288		BOSCO MISTO	U	5 are 60 ca	R.D.Euro:0,72 R.A. Euro: 0,17	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	291		BOSCO MISTO	U	1 ha 60 are 20 ca	R.D.Euro:20,68 R.A. Euro: 4,96	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	292		BOSCO MISTO	U	2 are 20 ca	R.D.Euro:0,28 R.A. Euro: 0,07
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	293		BOSCO MISTO	U	14 are 10 ca	R.D.Euro:1,82 R.A. Euro: 0,44	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	294		BOSCO MISTO	U	22 are 80 ca	R.D.Euro:2,94 R.A. Euro: 0,71	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	301		BOSCO MISTO	U	28 are 60 ca	R.D.Euro:3,69 R.A. Euro: 0,89	485
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	302		BOSCO MISTO	U	1 are 10 ca	R.D.Euro:0,14 R.A. Euro: 0,03
L	Proprieta' per 1000/1000	CAMANDONA (BI)	12	345		BOSCO CEDUO	2	40 are 50 ca	R.D.Euro:3,35 R.A. Euro: 1,46	485
L	Proprieta' per 1/1	LESSONA (BI)	1	296		BOSCO MISTO	1	9 are 30 ca	R.D.Euro:1,44 R.A. Euro: 0,29	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	123		BOSCO CEDUO	1	1 are 80 ca	R.D.Euro:0,23 R.A. Euro: 0,08	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	126		SEMINATIVO	2	1 are 30 ca	R.D.Euro:0,60 R.A. Euro: 0,81	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	127		FABB RURALE		3 are 90 ca	R.D.Euro: R.A. Euro:	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	128		BOSCO MISTO	1	5 are 30 ca	R.D.Euro:0,82 R.A. Euro: 0,16	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	129		PRATO	3	2 are 60 ca	R.D.Euro:0,67 R.A. Euro: 0,81	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	136		BOSCO CEDUO	1	8 are 60 ca	R.D.Euro:1,11 R.A. Euro: 0,40	5093
L	Proprieta' per 1/1	LESSONA (BI)	4	160		BOSCO CEDUO	2	12 are 40 ca	R.D.Euro:0,90 R.A. Euro: 0,51	5093
L	Proprieta' per 1/1	LESSONA (BI)	4	190		BOSCO MISTO	1	5 are 30 ca	R.D.Euro:0,82 R.A. Euro: 0,16	1477
L	Proprieta' per 1/1	LESSONA (BI)	4	200		BOSCO MISTO	2	3 are	R.D.Euro:0,39 R.A. Euro: 0,06	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	222		BOSCO CEDUO	2	4 are 90 ca	R.D.Euro:0,35 R.A. Euro: 0,20	2389
L	Proprieta' per 1/1	LESSONA (BI)	4	224		BOSCO CEDUO	2	1 are	R.D.Euro:0,07 R.A. Euro: 0,04	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	225		BOSCO CEDUO	2	2 are 40 ca	R.D.Euro:0,17 R.A. Euro: 0,10	2082
L	Proprieta' per 1/1	LESSONA (BI)	4	267		SEMINATIVO	1	2 are 35 ca	R.D.Euro:1,34 R.A. Euro: 1,58	1350
L	Proprieta' per 1/1	LESSONA (BI)	4	276		BOSCO CEDUO	1	5 are 80 ca	R.D.Euro:0,75 R.A. Euro: 0,27	4654
L	Proprieta' per 1/1	LESSONA (BI)	4	277		BOSCO MISTO	1	3 are 80 ca	R.D.Euro:0,59 R.A. Euro: 0,12	4654
L	Proprieta' per 1/1	LESSONA (BI)	4	278		PRATO	1	10 are 10 ca	R.D.Euro:5,22 R.A. Euro: 4,69	4654
L	Proprieta' per 1/1	LESSONA (BI)	4	289		PRATO	2	3 are 40 ca	R.D.Euro:1,58 R.A. Euro: 1,40	4654
L	Proprieta' per 1/1	LESSONA (BI)	4	296		BOSCO CEDUO	1	2 are 30 ca	R.D.Euro:0,30 R.A. Euro: 0,11	2026
L	Proprieta' per 1/1	LESSONA (BI)	4	321		PRATO ARBOR	2	2 are	R.D.Euro:0,93 R.A. Euro: 0,72	4654
L	Proprieta' per 1/1	LESSONA (BI)	4	324		FERROVIA SP		7 are 90 ca	R.D.Euro: R.A. Euro:	4654
L	Proprieta' per 1/1	LESSONA (BI)	5	230		BOSCO CEDUO	1	5 are 10 ca	R.D.Euro:0,66 R.A. Euro: 0,24	1350
L	Proprieta' per 1/1	LESSONA (BI)	7	1		BOSCO CEDUO	2	17 are 20 ca	R.D.Euro:1,24 R.A. Euro: 0,71	966
L	Proprieta' per 1/1	LESSONA (BI)	7	241		SEMINATIVO	1	36 are	R.D.Euro:20,45 R.A. Euro: 24,17
L	Proprieta' per 1/1	PISTOLESA (BI)	5	104		BOSCO CEDUO	2	19 are 90 ca	R.D.Euro:1,64 R.A. Euro: 0,72	83
L	Proprieta' per 1/1	PISTOLESA (BI)	5	105		PRATO	2	13 are 50 ca	R.D.Euro:3,49 R.A. Euro: 2,79	83
L	Proprieta' per 1/1	PISTOLESA (BI)	5	107		PRATO	2	8 are 60 ca	R.D.Euro:2,22 R.A. Euro: 1,78	83
L	Proprieta' per 1/1	PISTOLESA (BI)	5	108		BOSCO CEDUO	1	1 are 40 ca	R.D.Euro:0,18 R.A. Euro: 0,07	83
L	Proprieta' per 1/1	PISTOLESA (BI)	5	109		PRATO	2	27 are 40 ca	R.D.Euro:7,08 R.A. Euro: 5,66	503
L	Proprieta' per 1/1	PISTOLESA (BI)	5	126		BOSCO CEDUO	2	16 are 70 ca	R.D.Euro:1,38 R.A. Euro: 0,60	83
L	Proprieta' per 1/1	PISTOLESA (BI)	6	136		PRATO	2	13 are 90 ca	R.D.Euro:3,59 R.A. Euro: 2,87	503
L	Proprieta' per 1/1	PISTOLESA (BI)	6	137		BOSCO CEDUO	1	4 are 20 ca	R.D.Euro:0,54 R.A. Euro: 0,20	503
L	Proprieta' per 1/1	STRONA (BI)	9	720		PRATO	2	70 ca	R.D.Euro:0,18 R.A. Euro: 0,11	1013
L	Proprieta' per 1000/1000	VALLE MOSSO (BI)	11	205		PRATO	2	70 ca	R.D.Euro:0,25 R.A. Euro: 0,16	3801
L	Proprieta' per 1/1	VALLE MOSSO (BI)	11	206		PRATO	2	22 ca	R.D.Euro:0,08 R.A. Euro: 0,05	1142
L	Proprieta' per 1000/1000	VALLE MOSSO (BI)	11	268		PRATO	2	3 are 20 ca	R.D.Euro:1,16 R.A. Euro: 0,74	1193
L	Proprieta' per 1000/1000	VALLE MOSSO (BI)	11	344		BOSCO CEDUO	1	4 are	R.D.Euro:0,52 R.A. Euro: 0,19	2379
L	Proprieta' per 1000/1000	VALLE MOSSO (BI)	11	347		PRATO ARBOR	1	5 ca	R.D.Euro:0,02 R.A. Euro: 0,01	2379
L	Proprieta' per 1/1	VALLE MOSSO (BI)	14	101		ENTE URBANO		39 are 86 ca	R.D.Euro: R.A. Euro:	3736
L	Proprieta' per 1/1	VALLE MOSSO (BI)	14	183		BOSCO CEDUO	2	1 are 90 ca	R.D.Euro:0,16 R.A. Euro: 0,07	1560
L	Proprieta' per 1/1	VALLE MOSSO (BI)	14	301		BOSCO CEDUO	2	33 are	R.D.Euro:2,73 R.A. Euro: 1,19	2020
L	Proprieta' per 1/1	VALLE MOSSO (BI)	14	302		BOSCO CEDUO	2	18 are 40 ca	R.D.Euro:1,52 R.A. Euro: 0,67	2020
L	Proprieta' per 1/1	VEGLIO (BI)	4	389		BOSCO CEDUO	2	40 are 40 ca	R.D.Euro:3,34 R.A. Euro: 1,46	172
L	Proprieta' per 1/1	VEGLIO (BI)	4	492		BOSCO CEDUO	3	41 are 50 ca	R.D.Euro:1,07 R.A. Euro: 0,86	172
L	Proprieta' per 1/1	VEGLIO (BI)	4	494		BOSCO CEDUO	2	5 are 70 ca	R.D.Euro:0,47 R.A. Euro: 0,21	172
L	Proprieta' per 1/1	VEGLIO (BI)	4	496		FABB DIRUTO		1 are 10 ca	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	VEGLIO (BI)	4	497		FABB DIRUTO		1 are	R.D.Euro: R.A. Euro:
L	Proprieta' per 1/1	VEGLIO (BI)	4	498		PRATO	3	32 are 20 ca	R.D.Euro:4,16 R.A. Euro: 4,99	172
L	Proprieta' per 1/1	VEGLIO (BI)	4	531		PRATO	3	53 are 40 ca	R.D.Euro:6,89 R.A. Euro: 8,27	172
L	Proprieta' per 1/1	VEGLIO (BI)	6	106		BOSCO CEDUO	3	10 are 50 ca	R.D.Euro:0,27 R.A. Euro: 0,22	172
L	Proprieta' per 1/1	VEGLIO (BI)	7	2		PRATO	2	40 are 20 ca	R.D.Euro:10,38 R.A. Euro: 8,30	172
L	Proprieta' per 1/1	VEGLIO (BI)	7	4		BOSCO CEDUO	1	15 are 80 ca	R.D.Euro:2,04 R.A. Euro: 0,73
L	Proprieta' per 1/1	VEGLIO (BI)	7	7		BOSCO CEDUO	1	91 are 20 ca	R.D.Euro:11,78 R.A. Euro: 4,24	172
L	Proprieta' per 1/1	VEGLIO (BI)	7	8		BOSCO CEDUO	1	3 are 90 ca	R.D.Euro:0,50 R.A. Euro: 0,18	172
L	Proprieta' per 1000/1000	VEGLIO (BI)	8	604		PRATO	2	9 are 30 ca	R.D.Euro:2,40 R.A. Euro: 1,92	357

All responsibilities are declined regarding any possible omissions concerning the given results. Therefore, we advise to request for "Hypothecating Survey Inspection" c/o the locally competent RR.II. Immovables Registry, as this service doesn't fully guarantees the actual title of the Real Estates of the requested Subject.

Financial and Economical Analysis

---

Company's starting of activities dates back to 1993.

The eonomic-financial analysis is based on the latest 3 b/s.

Unstable economic results mark the company's financial state of affairs. anyway in 2016 a positive result was achieved (r.o.e. 0,23%). The turnover is growing in the last financial year (+18,05%).

The operating result in 2016 was positive (0,85%) falling within the field's average.

An operating result of Eur. 1.298.443 has been registered. increasing if compared to the yeart 2015.

A gross operating margine for a value of Eur. 6.253.554 was reached. on the same levels as the previous financial year.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,69 increasing compared to last year (0,55)

It's shareholders funds amount to Eur. 77.483.308 on stable levels.

During the last financial year total debts volume reached Eur. 64.692.463 (Eur. 11.141.774 were m/l term ones) while during the financial year 2015 the amount was equal to Eur. 51.179.061.

Moderate recourse to bank credit while the exposure towards suppliers is rather high even if it still falls within the sector's average.

It shows a good range of liquidity.

On average trade credits are collected in 61,03 days. , a value lower than the sector's average.

2016 financial year closed with a cash flow of Eur. 5.114.212

During 2016 financial year labour costs amounted to Eur. 31.095.918, with a 28,07% incidence on production costs. , with a 28,56% incidence on turnover.

If compared to the sales volume (-0,64%), the impact of the financial charges is limited.

Financial Data

Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

Item Type	Value
Sales	108.870.512
Profit (Loss) for the period	181.743

Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

Item Type	Value
Sales	92.220.959
Profit (Loss) for the period	-1.261.720

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

Item Type	Value
Sales	91.243.107
Profit (Loss) for the period	-1.896.410

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

Item Type	Value
Sales	100.883.121
Profit (Loss) for the period	-5.472.714

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

Item Type	Value
Sales	97.893.385
Profit (Loss) for the period	-1.833.378

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 31/12/2016 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/12/2015 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1

Years

2016

2015

2014

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.	323.275	290.308	364.603
. . Goodwill
. . Assets in formation and advance paymen.		9.288	3.400
. . Other intangible fixed assets	270.407	211.952	325.066
. Total Intangible Fixed Assets	593.682	511.548	693.069
. TANGIBLE FIXED ASSETS
. . Real estate	26.971.461	25.705.100	26.960.816
. . Plant and machinery	16.724.702	14.434.629	15.753.804
. . Industrial and commercial equipment	118.197	206.168	252.123
. . Other assets	524.965	435.006	502.267
. . Assets under construction and advances	769.929	639.643	475.419
. Total Tangible fixed assets	45.109.254	41.420.546	43.944.429
. FINANCIAL FIXED ASSETS
. . Equity investments	226.560	15.223.623	15.223.831
. . . Equity invest. in subsidiary companies	178.834	15.179.834	15.179.834
. . . Equity invest. in associated companies
. . . Equity invest. in holding companies
. . . Equity invest. in other companies	47.726	43.789	43.997
. . Financial receivables	30.135	27.141	26.932
. . . . Within 12 months		27.141
. . . . Beyond 12 months	30.135		26.932
. . . 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	30.135	27.141	26.932
. . . . Within 12 months		27.141
. . . . Beyond 12 months	30.135		26.932
. . Other securities
. . Own shares
. . . Total nominal value
. Total financial fixed assets	256.695	15.250.764	15.250.763
Total fixed assets	45.959.631	57.182.858	59.888.261
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables	8.927.203	7.327.526	6.756.004
. . Work in progress and semimanufactured	30.657.025	19.637.911	18.380.939
. . Work in progress on order
. . Finished goods	40.194.696	27.433.160	28.916.430
. . Advance payments
. Total Inventories	79.778.924	54.398.597	54.053.373
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	25.788.516	19.836.573	19.067.478
. . Beyond 12 months
. . Trade receivables	18.455.893	12.978.403	12.067.032
. . . . Within 12 months	18.455.893	12.978.403	12.067.032
. . . . Beyond 12 months
. . Receivables due from subsid. comp.	855	954.411	1.024.445
. . . . Within 12 months	855	954.411	1.024.445
. . . . Beyond 12 months
. . Receivables due from assoc. comp.	1.456.000	1.379.217	1.286.592
. . . . Within 12 months	1.456.000	1.379.217	1.286.592
. . . . Beyond 12 months
. . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . Fiscal Receivables	1.749.976	1.352.862	1.105.086
. . . . Within 12 months	1.749.976	1.352.862	1.105.086
. . . . Beyond 12 months
. . Receivables for anticipated taxes	2.848.069	2.494.369	2.908.450
. . . . Within 12 months	2.848.069	2.494.369	2.908.450
. . . . Beyond 12 months
. . Receivables due from third parties	1.277.723	677.311	675.873
. . . . Within 12 months	1.277.723	677.311	675.873
. . . . Beyond 12 months
. Total Credits not held as fixed assets	25.788.516	19.836.573	19.067.478
. FINANCIAL ASSETS
. . Equity invest. in subsidiary comp.
. . Equity invest. in associated companies	1.000	1.000	1.000
. . Equity invest. in holding companies
. . Other equity investments
. . Own shares
. . . Total nominale value
. . Other securities
. Total Financial Assets	1.000	1.000	1.000
. LIQUID FUNDS
. . Bank and post office deposits	418.262	725.898	544.543
. . Checks
. . Banknotes and coins	7.577	6.989	7.794
. Total Liquid funds	425.839	732.887	552.337
Total current assets	105.994.279	74.969.057	73.674.188
ADJUSTMENT ACCOUNTS
. Discount on loans			167.173
. Other adjustment accounts	295.397	186.735
Total adjustments accounts	295.397	186.735	167.173
TOTAL ASSETS	152.249.307	132.338.650	133.729.622
LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	43.120.000	43.120.000	43.120.000
. Additional paid-in capital	5.800.000	5.800.000	5.800.000
. Revaluation reserves
. Legal reserve	2.350.279	2.350.279	2.350.279
. Reserve for Own shares
. Statute reserves
. Other reserves	26.031.286	22.411.908	24.308.319
. Accumulated Profits (Losses)
. Profit( loss) of the year	181.743	-1.261.720	-1.896.410
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	77.483.308	72.420.467	73.682.188
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.	127.943	77.813	77.839
. . Taxation fund, also differed	420.066	399.554	442.069
. . Other funds	275.448	70.000	20.000
Total Reserves for Risks and Charges	823.457	547.367	539.908
Employee termination indemnities	9.196.375	8.089.978	8.295.916
ACCOUNTS PAYABLE
. . . . Within 12 months	53.550.689	40.792.448	38.400.139
. . . . Beyond 12 months	11.141.774	10.386.613	12.710.259
. . 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	37.342.320	28.774.299	35.660.321
. . . . Within 12 months	26.200.546	18.387.686	22.950.062
. . . . Beyond 12 months	11.141.774	10.386.613	12.710.259
. . Due to other providers of finance
. . . . Within 12 months
. . . . Beyond 12 months
. . Advances from customers
. . . . Within 12 months
. . . . Beyond 12 months
. . Trade payables	20.950.409	17.163.940	10.228.653
. . . . Within 12 months	20.950.409	17.163.940	10.228.653
. . . . Beyond 12 months
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies	409.686	527.852	547.468
. . . . Within 12 months	409.686	527.852	547.468
. . . . Beyond 12 months
. . Due to associated companies		1.019.445
. . . . Within 12 months		1.019.445
. . . . Beyond 12 months
. . Due to holding companies
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to the tax authorities	1.129.865		970.536
. . . . Within 12 months	1.129.865		970.536
. . . . Beyond 12 months
. . Due to social security and welfare inst.	2.213.223	1.586.848	1.492.133
. . . . Within 12 months	2.213.223	1.586.848	1.492.133
. . . . Beyond 12 months
. . Other payables	2.646.960	2.106.677	2.211.287
. . . . Within 12 months	2.646.960	2.106.677	2.211.287
. . . . Beyond 12 months
Total accounts payable	64.692.463	51.179.061	51.110.398
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts	53.704	101.777	101.212
Total adjustment accounts	53.704	101.777	101.212
TOTAL LIABILITIES	152.249.307	132.338.650	133.729.622

MEMORANDUM ACCOUNTS

Third party goods

Investment accounts

Risk accounts

Civil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION
. Revenues from sales and services	108.870.512	92.220.959	91.243.107
. Changes in work in progress	2.529.430	-226.298	-4.392.128
. Changes in semi-manufact. products
. Capitalization of internal work	9.572	10.619	31.660
. Other income and revenues	682.138	1.915.214	1.498.656
. . Contributions for operating expenses	682.138
. . Different income and revenues		1.915.214	1.498.656
Total value of production	112.091.652	93.920.494	88.381.295
PRODUCTION COSTS
. Raw material,other materials and consum.	53.884.983	46.064.161	42.194.257
. Services received	19.082.106	17.386.094
. Leases and rentals	209.877	141.031	16.943.727
. Payroll and related costs	31.095.918	24.792.137	23.916.088
. . Wages and salaries	22.012.062	17.541.265	16.907.340
. . Social security contributions	7.145.707	5.723.390	5.477.093
. . Employee termination indemnities	1.570.399	1.259.354	1.266.963
. . Pension and similar	234.082	204.572	196.891
. . Other costs	133.668	63.556	67.801
. Amortization and depreciation	4.932.469	4.293.157	4.814.638
. . Amortization of intangible fixed assets	285.462	272.520	348.944
. . Amortization of tangible fixed assets	4.257.889	3.538.744	4.341.293
. . Depreciation of tangible fixed assets
. . Writedown of current receiv.and of liquid	389.118	481.893	124.401
. Changes in raw materials	492.751	-571.522	289.176
. Provisions to risk reserves		68.797
. Other provisions	22.642	15.989	31.179
. Other operating costs	1.072.463	701.154	953.548
Total production costs	110.793.209	92.890.998	89.142.613
Diff. between value and cost of product.	1.298.443	1.029.496	-761.318
FINANCIAL INCOME AND EXPENSE
. Income from equity investments
. . In subsidiary companies
. . In associated companies
. . In other companies
. Other financial income	59.866	184.943	45.147
. . 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	59.866		45.147
. . . - Subsidiary companies
. . . - Associated companies	31.483		34.846
. . . - Holding companies
. . . - Other companies	28.383		10.301
. Interest and other financial expense	-755.117	-1.975.074	-1.016.035
. . Towards subsidiary companies
. . Towards associated companies
. . Towards holding companies
. . Towards other companies			-1.016.035
Total financial income and expense	-695.251	-1.790.131	-970.888
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations
. . Of equity investments
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets
. Devaluation	-23	-207	-149.000
. . Of equity investments	-23	-207	-149.000
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets	-23	-207	-149.000
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income		230.730	122.047
. . Gains on disposals
. . Other extraordinary income		230.730	122.047
. Extraordinary expense		-216.834	-181.362
. . Losses on disposals		-15.490	-53.800
. . Taxes relating to prior years
. . Other extraordinary expense		-201.344	-127.562
Total extraordinary income and expense		13.896	-59.315
Results before income taxes	603.169	-746.946	-1.940.521
. Taxes on current income	421.426	514.774	-44.111
. . current taxes	216.330	143.209	474.409
. . differed taxes(anticip.)		371.565	-518.520
. Net income for the period	181.743	-1.261.720	-1.896.410
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	181.743	-1.261.720	-1.896.410

RATIOS	Value Type	as at 31/12/2016	as at 31/12/2015	as at 31/12/2014	Sector Average
COMPOSITION ON INVESTMENT
Rigidity Ratio	Units	0,30	0,43	0,45	0,29
Elasticity Ratio	Units	0,70	0,57	0,55	0,70
Availability of stock	Units	0,52	0,41	0,40	0,26
Total Liquidity Ratio	Units	0,17	0,16	0,15	0,39
Quick Ratio	Units	0,00	0,01	0,00	0,01
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	0,69	0,55	0,51	1,69
Self Financing Ratio	Units	0,51	0,55	0,55	0,29
Capital protection Ratio	Units	0,44	0,42	0,44	0,71
Liabilities consolidation quotient	Units	0,38	0,45	0,55	0,26
Financing	Units	0,83	0,71	0,69	2,12
Permanent Indebtedness Ratio	Units	0,64	0,69	0,71	0,45
M/L term Debts Ratio	Units	0,13	0,14	0,16	0,13
Net Financial Indebtedness Ratio	Units	0,48	0,39	0,48	0,96
CORRELATION
Fixed assets ratio	Units	2,13	1,59	1,58	1,38
Current ratio	Units	1,98	1,84	1,92	1,25
Acid Test Ratio-Liquidity Ratio	Units	0,49	0,50	0,51	0,75
Structure's primary quotient	Units	1,69	1,27	1,23	0,90
Treasury's primary quotient	Units	0,01	0,02	0,01	0,03
Rate of indebtedness ( Leverage )	%	196,49	182,74	181,50	339,62
Current Capital ( net )	Value	52.443.590	34.176.609	35.274.049	1.615.606
RETURN
Return on Sales	%	4,70	3,29	3,20	1,74
Return on Equity - Net- ( R.O.E. )	%	0,23	-1,74	-2,57	0,25
Return on Equity - Gross - ( R.O.E. )	%	0,78	-1,03	-2,63	2,94
Return on Investment ( R.O.I. )	%	0,85	0,78	-0,57	2,31
Return/ Sales	%	1,19	1,12	-0,83	2,50
Extra Management revenues/charges incid.	%	14,00	-122,56	n.c.	8,02
Cash Flow	Value	5.114.212	3.031.437	2.918.228	210.372
Operating Profit	Value	1.298.443	1.029.496	-761.318	359.192
Gross Operating Margin	Value	6.253.554	5.407.439	4.084.499	692.382
MANAGEMENT
Credits to clients average term	Days	61,03	50,66	56,73	111,18
Debts to suppliers average term	Days	105,08	105,93	65,60	104,44
Average stock waiting period	Days	263,80	212,35	213,27	86,89
Rate of capital employed return ( Turnover )	Units	0,72	0,70	0,68	1,04
Rate of stock return	Units	1,36	1,70	1,69	4,12
Labour cost incidence	%	28,56	26,88	26,21	15,12
Net financial revenues/ charges incidence	%	-0,64	-1,94	-1,06	-2,07
Labour cost on purchasing expenses	%	28,07	26,69	26,83	14,82
Short-term financing charges	%	1,17	3,86	1,99	3,48
Capital on hand	%	139,84	143,50	146,56	95,83
Sales pro employee	Value	112.122	105.275	122.146	237.592
Labour cost pro employee	Value	32.024	28.301	32.016	33.432

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

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	INR 63.76
UK Pound	1	INR 87.91
Euro	1	INR 78.20
EURO	1	INR 78.16

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	DNS

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.