3decades

MIRA INFORM REPORT

Report No. :	516813
Report Date :	26.06.2018

IDENTIFICATION DETAILS

Name :	RINO MASTROTTO GROUP S.P.A

Registered Office :	Via Dell'artigianato, 100, 36070 - Trissino(VI)-IT

Country :	Italy

Financials (as on) :	31.12.2016

Date of Incorporation :	01.01.1999

Legal Form :	Joint stock company

Line of Business :	Manufacture of luggage, handbags and similars, leathergoods and saddlery

No. of Employees :	From 251 to 500

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate 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

(31.12.2017)

Current Rating

(01.04.2018)

Italy

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’s economy comprises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. 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 131% of GDP in 2017. 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 records. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's longstanding structural economic problems, including 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 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in 2017 growth accelerated to 1.5% of GDP. In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%.

Source : CIA

Company name and address

Rino Mastrotto Group S.p.a.

Via

Dell'artigianato,

100

36070

- Trissino

(VI)

-IT-

Summary

Fiscal Code	:	01402740060
Legal Form	:	Joint stock company
start of Activities	:	01/01/1999
Equity	:	Over 2.582.254
Turnover Range	:	over 129.114.224
Number of Employees	:	from 251 to 500

Activity

Manufacture of luggage, handbags and similars, leathergoods and saddlery

legal Data

Legal Form : Joint stock company

Fiscal Code : 01402740060

Foreign Trade Reg. no. : VI047337 since 19/04/1999

Chamber of Commerce no. : 158590 of Alessandria

Chamber of Commerce no. : 191281 of Fermo

Chamber of Commerce no. : 269296 of Vicenza since 19/01/1999

Firms' Register : AL174-2760 of Alessandria

Firms' Register : VI-1999-1699 of Vicenza

V.A.T. Code : 02723000242

Establishment date	: 02/03/1989
Start of Activities	: 01/01/1999
Legal duration	: 31/12/2050
Nominal Capital	: 39.000.000
Subscribed Capital	: 39.000.000
Paid up Capital	: 39.000.000

Legal mail :

RMGSPA1@LEGALMAIL.IT

Members

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Mastrotto

Rino

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in Nogarole Vicentino

(VI)

on 29/10/1946

- Fiscal Code : MSTRNI46R29F922S

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Brisa

, 3

- 20123

Milano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	02/02/2017
Board Chairman	13/02/2017
Managing Director	13/02/2017

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Mastrotto

Rino

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in Nogarole Vicentino

(VI)

on 29/10/1946

- Fiscal Code : MSTRNI46R29F922S

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Sant'antonio

, 2

- 36070

Trissino

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Partner

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Castagna

Maria Grazia

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in Valdagno

(VI)

on 07/12/1955

- Fiscal Code : CSTMGR55T47L551H

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Dell'artigianato

, 100

- 36070

Trissino

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	02/02/2017
Attorney with special power	30/07/2014
Managing Director	13/02/2017

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Colombini

Luciano

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in La Spezia

(SP)

on 04/03/1955

- Fiscal Code : CLMLCN55C04E463R

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Dell'artigianato

, 100

- 36070

Trissino

(VI)

- IT -

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

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Mastrotto

Matteo

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in Montecchio Maggiore

(VI)

on 06/03/1977

- Fiscal Code : MSTMTT77C06F464M

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Dell'artigianato

, 100

- 36070

Trissino

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	02/02/2017
Managing Director	13/02/2017

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Mastrotto

Barbara

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in Montecchio Maggiore

(VI)

on 07/07/1973

- Fiscal Code : MSTBBR73L47F464M

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Dell'artigianato

, 100

- 36070

Trissino

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	02/02/2017
Managing Director	13/02/2017

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Protests registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Bisazza

Bruno Angelo

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Born in Vicenza

(VI)

on 02/12/1937

- Fiscal Code : BSZBNN37T02L840N

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Residence:

Dell'artigianato

, 100

- 36070

Trissino

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	02/02/2017
Managing Director	13/02/2017

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

No Prejudicial events are reported

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

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.

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Mastrotto

Rino

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
G.e.a. - Gestione Ecologia E Ambiente -S.p.a.	Arzignano (VI) - IT -	02090320249	Managing Director	Withdrawn	Ceased
Intesa Holding S.p.a.	Chiampo (VI) - IT -	01905000244	Director	Active	Registered
Intesa Holding S.p.a.	Chiampo (VI) - IT -	01905000244	Board Chairman	Active	Registered
Golf Club Asiago - S.p.a.	Asiago (VI) - IT -	00286600242	Director	Withdrawn	Registered
Mipel S.r.l.	Trissino (VI) - IT -	02365920244	Director	Withdrawn	Registered
Mipel S.r.l.	Trissino (VI) - IT -	02365920244	Sole Director	Active	Registered
Apelle S.p.a. (societa' Con Unico Socio)In Liquidazione	Pisticci (MT) - IT -	00600750772	Sole Director	Withdrawn	Registered
Apelle S.p.a. (societa' Con Unico Socio)In Liquidazione	Pisticci (MT) - IT -	00600750772	Liquidator	Withdrawn	Registered
Rialba S.r.l.	Trissino (VI) - IT -	02436150243	Sole Director	Active	Registered
Lineapelle Societa' A Responsabilita' Limitata	Milano (MI) - IT -	12629090155	Director	Active	Registered
Mastrotto F.lli Santo, Bruno, Angelo, Rino, Mario	Sovizzo (VI) - IT -	00503080244	Partner	Active	Registered
Sicit Chemitech S.p.a.	Chiampo (VI) - IT -	02821790249	Director	Active	Registered
Sicit 2000 S.p.a.	Chiampo (VI) - IT -	02821800246	Director	Active	Registered
Sicit 2000 S.p.a.	Chiampo (VI) - IT -	02821800246	Board Chairman	Active	Registered
Utiac Spa	Arzignano (VI) - IT -	02934120243	Director	Active	Registered
Distretto Conciario Vicentino	Arzignano (VI) - IT -	03523100240	Baord of Directors' member	Withdrawn	Registered
Anteprima - Trend Selection S.r.l.	Milano (MI) - IT -	03748950965	Director	Withdrawn	Registered
Anteprima - Trend Selection S.r.l.	Milano (MI) - IT -	03748950965	Board Chairman	Withdrawn	Registered
Golf Meltar S.r.l.	Asiago (VI) - IT -	03250920240	Director	Withdrawn	Registered
CENTRO RESIDENZIALE ANZIANI ' S. SCALABRIN '	Arzignano (VI) - IT -	81000490243	Legal representative	Active	Registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Castagna

Maria Grazia

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Conceria Pomari S.p.a.	Lonigo (VI) - IT -	01681040240	Permanent Auditor	Withdrawn	Ceased
Conceria Pizzolato S.p.a.	Arzignano (VI) - IT -	00163030240	Permanent Auditor	Withdrawn	Ceased
Conceria Galassia - S.p.a.	Arzignano (VI) - IT -	01342770060	Permanent Auditor	Withdrawn	Ceased
Gruppo Conciario C.a.l.b.e. S.p.a.In Forma Breve:	Arzignano (VI) - IT -	01906230246	Permanent Auditor	Withdrawn	Ceased
Conceria Brusarosco S.p.a.	Arzignano (VI) - IT -	02312640242	Permanent Auditor	Withdrawn	Ceased
Mipel S.r.l.	Trissino (VI) - IT -	02365920244	Managing Director	Withdrawn	Registered
Mipel S.r.l.	Trissino (VI) - IT -	02365920244	Director	Withdrawn	Registered
Apelle S.p.a. (societa' Con Unico Socio)In Liquidazione	Pisticci (MT) - IT -	00600750772	Director	Withdrawn	Registered
Apelle S.p.a. (societa' Con Unico Socio)In Liquidazione	Pisticci (MT) - IT -	00600750772	Managing Director	Withdrawn	Registered
"inven S.r.l. - Societa' Unipersonale	Trissino (VI) - IT -	01976530244	Sole Director	Withdrawn	Ceased
Cariolato S.p.a.	Cornedo Vicentino (VI) - IT -	02125060240	Permanent Auditor	Active	Registered
Oikos S.p.a.	Tortona (AL) - IT -	01797610068	Managing Director	Withdrawn	Registered
Oikos S.p.a.	Tortona (AL) - IT -	01797610068	Director	Withdrawn	Registered
Nexus S.r.l.	Montorso Vicentino (VI) - IT -	02680700248	Managing Director	Active	Registered
Nexus S.r.l.	Montorso Vicentino (VI) - IT -	02680700248	Director	Active	Registered
Nexus S.r.l.	Montorso Vicentino (VI) - IT -	02680700248	Board Chairman	Active	Registered
Talenti Srl	Saonara (PD) - IT -	01385910284	Liquidator	Withdrawn	Ceased
Demetra Team S.r.l.	Valdagno (VI) - IT -	03148100245	Director	Withdrawn	Registered
Pasubio Servizi S.r.l.	Schio (VI) - IT -	03196080240	Permanent Auditor	Active	Registered
Green Leather S.r.l.	Zimella (VR) - IT -	03108070248	Chairman of the Board of Aud.	Withdrawn	Registered

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Mastrotto

Matteo

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Mipel S.r.l.	Trissino (VI) - IT -	02365920244	Managing Director	Withdrawn	Registered
Mipel S.r.l.	Trissino (VI) - IT -	02365920244	Director	Withdrawn	Registered
Oikos S.p.a.	Tortona (AL) - IT -	01797610068	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
Mastrotto Rino	Trissino - IT -	MSTRNI46R29F922S	19.110.000 .Eur	49,00
Mastrotto Matteo	Trissino - IT -	MSTMTT77C06F464M	9.945.000 .Eur	25,50
Mastrotto Barbara	Trissino - IT -	MSTBBR73L47F464M	9.945.000 .Eur	25,50

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
Intesa Holding S.p.a.	Chiampo - IT -	01905000244	562.315 .Eur	19,69			Active
Veneto Banca Societa' Per Azioni	Montebelluna - IT -	00208740266		0,07			Active
Mipel S.r.l.	Trissino - IT -	02365920244	100.000 .Eur	100,00			Active
Nexus S.r.l.	Montorso Vicentino - IT -	02680700248	8.160 .Eur	51,00			Active
Utiac Spa	Arzignano - IT -	02934120243	85.300 .Eur	4,99			Active

Firm's location and structure

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

Legal and operative seat

Dell'artigianato

, 100

- 36070

- Trissino

(VI)

- IT -

PHONE

: 0445969696

Legal mail

: RMGSPA1@LEGALMAIL.IT

Branch

(Factory)

since 01/01/1999

Casette

, 3

- 36045

- Lonigo

(VI)

- IT -

Trading Style: RINO MASTROTTO GROUP - POMARI

PHONE

: 0445969696

Branch

(Workshop)

since 01/02/2000

Stazione

, 74

- 36070

- Trissino

(VI)

- IT -

PHONE

: 0445969696

Branch

(Factory)

since 01/05/2001

Stazione

, 84

- 36070

- Trissino

(VI)

- IT -

PHONE

: 0445499200

Branch

(Factory)

since 01/01/1999

Mure

, 20

- 36071

- Arzignano

(VI)

- IT -

Trading Style: RINO MASTROTTO GROUP - GALASSI

Branch

(Factory)

since 01/01/1999

Quinta Strada

, 55

- 36071

- Arzignano

(VI)

- IT -

Trading Style: RINO MASTROTTO GROUP - CALBE E

Branch

(office)

since 01/01/2014

Stradella Santo Stefano

, 1

- 36100

- Vicenza

(VI)

- IT -

Employees

: 458

Fittings and Equipment for a value of 6.420.000

Eur

Stocks for a value of 48.830.000

Eur

Trade organization: direct or by agents.

Historical Information and/or Firm's Status

CEASINGS/INCORPORATIONS/MERGES:

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$ Conceria Pizzolato S.p.a.

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Quinta Strada

, 55

, 36071

, Arzignano

(VI)

- IT -

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Fiscal Code: 00163030240

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Date

Merging/splitting-up project:

28/09/2001

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$ Conceria Pizzolato S.p.a.

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Quinta Strada

, 55

, 36071

, Arzignano

(VI)

- IT -

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Fiscal Code: 00163030240

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Date

20/12/2001

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$ B.d.n. S.r.l. Societa' Unipersonale

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Cassette

, 3

, 36045

, Lonigo

(VI)

- IT -

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Fiscal Code: 02323790242

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Date

Merging/splitting-up project:

20/09/2002

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$ B.d.n. S.r.l. Societa' Unipersonale

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Cassette

, 3

, 36045

, Lonigo

(VI)

- IT -

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Fiscal Code: 02323790242

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Date

23/12/2002

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Project of merging by taking over of

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$ Oikos S.p.a.

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Repubblica

, 25

, 15057

, Tortona

(AL)

- IT -

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Fiscal Code: 01797610068

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Date

Merging/splitting-up project:

29/09/2006

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

The firm absorbed by merging of

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$ Oikos S.p.a.

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Repubblica

, 25

, 15057

, Tortona

(AL)

- IT -

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Fiscal Code: 01797610068

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Vuoto.gif$

Date

21/12/2006

Protests

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

Data Base Prejudicial Events Search

Search performed on a National Scale

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Rosso.gif$

Prejudicial Events Search Result:

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\giallo.gif$

Prejudicial Events found with cancellations*

Notice of payment injunction on 11/09/2017. for an amount of 211.894 Euro. Event writing-off

 AGENZIA DELLE ENTRATE- RISCOSSIONE

Search performed on a specialized data base.

*Concerns also partially erased events.

Legal Procedures

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

Bankers

The firm operates with:

Bank Name	Agency Name	Address	ZIP Code	City	ABI Code	CAB Code
BANCA ANTONIANA POPOLARE VENETA					5040	0
BANCA INTESA - RETE AMBROVENETO					3001	0
BANCO DI DESIO E DELLA BRIANZA					3440	0

National Real Estates Survey

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

Town	Cadastre	No. Immovables	Up to Date
PISTICCI (MT)	Buildings	1	23/06/2018
ARZIGNANO (VI)	Buildings	10	23/06/2018
ARZIGNANO (VI)	Land	21	23/06/2018
LONIGO (VI)	Buildings	8	23/06/2018
TRISSINO (VI)	Buildings	18	23/06/2018
TRISSINO (VI)	Land	29	23/06/2018

Buildings Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Categorie	Classe	Consistence	Cadastrial Rent	Part No.
B	Proprieta' per 1/1	PISTICCI (MT) STRADA STATALE 407 BASENTANA, Piano T-1	1	353	1	cat. D/7			Euro: 33.321,80
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA QUINTA STRADA ZONA INDUSTRIALE, 55 Piano S1-T - 1-2	13	60	1	cat. D/1			Euro: 189.955,20
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, Piano T	31	297	2	cat. D/7			Euro: 134,28
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, Piano T	31	297	3	cat. D/7			Euro: 113,62
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, Piano T	31	297	4	cat. D/7			Euro: 113,62
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, 20 Piano T-1 - 2	31	297	7	cat. D/7			Euro: 26.900,00
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, Piano T	31	298		cat. C/2	4	112 mq	Euro:306,57	1006524
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, SNC Piano T	31	696		cat. F/1
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, SNC Piano T	31	697		cat. D/1			Euro: 34,00
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, SNC Piano T	31	698		cat. F/1
B	Proprieta' per 1/1	ARZIGNANO (VI) VIA MURE, SNC Piano T	31	707		cat. F/1
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, Piano T - 0001	48	77	10	cat. A/3	2	4,5 vani	Euro:278,89
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, 3 Piano T	48	77	3	cat. D/7			Euro: 10.838,00
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, 3 Piano T	48	77	4	cat. D/1			Euro: 322,00
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, 3 Piano T	48	77	5	cat. D/1			Euro: 109,00
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, 3 Piano T-1	48	77	6	cat. D/1			Euro: 15.289,00
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, 3 Piano T-1	48	77	7	cat. D/1			Euro: 25.246,00
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, 3 Piano T	48	77	8	cat. D/1			Euro: 109,00
B	Proprieta' per 1/1	LONIGO (VI) VIA CASETTE, Piano T	48	77	9	cat. D/1			Euro: 9.296,22
B	Proprieta' per 1/1	TRISSINO (VI) VIA DELL' ARTIGIANATO, 100 Piano S1-T - 1	19	1201	14	cat. D/8			Euro: 13.022,00
B	Proprieta' per 1/1	TRISSINO (VI) VIA DELL' ARTIGIANATO, 100 Piano T	19	1201	16	cat. C/1	3	58 mq	Euro:928,59
B	Proprieta' per 1/1	TRISSINO (VI) VIA DELL' ARTIGIANATO, 100 Piano T	19	1201	17	cat. D/8			Euro: 4.246,00
B	Proprieta' per 1/1	TRISSINO (VI) VIA DELL' ARTIGIANATO, 100 Piano T	19	1201	6	cat. D/5			Euro: 4.092,92
B	Proprieta' per 1/1	TRISSINO (VI) VIA PIANACATTIVA ALTA, Piano T	2	774	2	cat. C/2	1	135 mq	Euro:125,50	890
B	Proprieta' per 1/1	TRISSINO (VI) VIA PIANACATTIVA ALTA, Piano T - 0001	2	774	3	cat. A/8	1	19,5 vani	Euro:2.467,37	890
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, Piano S1	22	139	1	cat. C/6	2	27 mq	Euro:44,62
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, Piano S1	22	139	2	cat. A/3	4	3 vani	Euro:240,15
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, Piano S2 - S1-T	22	139	3	cat. A/7	2	11 vani	Euro:1.079,39
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, Piano T	22	205		cat. F/1
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 64 Piano T	22	207	2	cat. C/6	2	30 mq	Euro:49,58	1003053
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 62 Piano S1-T - 1-2	22	207	4	cat. A/7	2	9 vani	Euro:883,14
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 62 Piano T	22	207	5	cat. A/2	5	3,5 vani	Euro:298,25
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, Piano T	22	237		cat. D/1			Euro: 826,33	1003004
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 84 Piano S1-T - 1-2	22	36	1	cat. D/1			Euro: 114.921,80
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 84 Piano T	22	36	2	cat. D/1			Euro: 654,00
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 84 Piano S1-T	22	437	2	cat. D/1			Euro: 32.907,54
B	Proprieta' per 1/1	TRISSINO (VI) VIA STAZIONE, 84 Piano S1-T	22	437	3	cat. F/3

Land Details

Cadastre	Title	Location	Sheet No.	Particle No.	Sub No.	Category	Class	Consistence	Cadastrial Rent	Part No.
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	207		PRATO ARBOR	4	32 ca	R.D.Euro:0,08 (*) R.A. Euro: 0,05	7871
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	235		PRATO ARBOR	3	96 are 56 ca	R.D.Euro:29,92 R.A. Euro: 19,95	7871
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	318		PRATO ARBOR	3	4 are 10 ca	R.D.Euro:1,27 R.A. Euro: 0,85	7871
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	361		PRATO ARBOR	3	14 ca	R.D.Euro:0,04 R.A. Euro: 0,03	7871
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	409		PRATO ARBOR	3	32 are 68 ca	R.D.Euro:10,08 (*) R.A. Euro: 6,75	8161
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	558		PRATO	5	60 ca	R.D.Euro:0,12 (*) R.A. Euro: 0,08
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	559		PRATO	5	1 are 27 ca	R.D.Euro:0,26 (*) R.A. Euro: 0,16
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	560		PRATO	4	32 ca	R.D.Euro:0,08 (*) R.A. Euro: 0,05
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	561		PRATO	4	1 are 81 ca	R.D.Euro:0,47 (*) R.A. Euro: 0,28
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	562		PRATO	5	41 ca	R.D.Euro:0,08 (*) R.A. Euro: 0,05
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	563		PRATO	5	1 are 47 ca	R.D.Euro:0,30 (*) R.A. Euro: 0,19
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	564		PRATO	4	49 ca	R.D.Euro:0,13 (*) R.A. Euro: 0,08
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	565		PRATO	4	2 are 17 ca	R.D.Euro:0,56 (*) R.A. Euro: 0,34
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	570		PRATO	5	48 ca	R.D.Euro:0,10 (*) R.A. Euro: 0,06
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	571		PRATO	5	1 are 52 ca	R.D.Euro:0,31 (*) R.A. Euro: 0,20
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	572		PRATO	4	34 ca	R.D.Euro:0,09 (*) R.A. Euro: 0,05
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	573		PRATO	4	2 are 71 ca	R.D.Euro:0,70 (*) R.A. Euro: 0,42
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	574		PRATO	5	12 ca	R.D.Euro:0,02 (*) R.A. Euro: 0,02
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	575		PRATO	5	28 ca	R.D.Euro:0,06 (*) R.A. Euro: 0,04
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	576		PRATO	4	6 ca	R.D.Euro:0,02 (*) R.A. Euro: 0,01
L	Proprieta' per 1/1	ARZIGNANO (VI)	31	577		PRATO	4	57 ca	R.D.Euro:0,15 (*) R.A. Euro: 0,09
L	Proprieta' per 1/1	TRISSINO (VI)	2	185		INCOLT STER		1 are 15 ca	R.D.Euro: R.A. Euro:	9218
L	Proprieta' per 1/1	TRISSINO (VI)	2	24		SEMINATIVO	4	35 are 92 ca	R.D.Euro:14,84 R.A. Euro: 12,99	1201
L	Proprieta' per 1/1	TRISSINO (VI)	2	546		SEMIN ARBOR	3	1 ha 24 are 70 ca	R.D.Euro:70,84 R.A. Euro: 51,52	3594
L	Proprieta' per 1/1	TRISSINO (VI)	2	568		PRATO	2	45 are 50 ca	R.D.Euro:16,45 R.A. Euro: 10,57
L	Proprieta' per 1/1	TRISSINO (VI)	2	755		MODELLO 26			R.A. Euro: R.A. Euro:
L	Proprieta' per 1/1	TRISSINO (VI)	2	757		SEMIN ARBOR	3	28 are 24 ca	R.D.Euro:16,04 R.A. Euro: 11,67	9048
L	Proprieta' per 1/1	TRISSINO (VI)	2	759		SEMINATIVO	4	43 ca	R.D.Euro:0,18 R.A. Euro: 0,16	9048
L	Proprieta' per 1/1	TRISSINO (VI)	2	761		PRATO	2	7 are 37 ca	R.D.Euro:2,66 R.A. Euro: 1,71
L	Proprieta' per 1/1	TRISSINO (VI)	2	762		PRATO	2	7 are 8 ca	R.D.Euro:2,56 R.A. Euro: 1,65
L	Proprieta' per 1/1	TRISSINO (VI)	22	108		BOSCO CEDUO	2	35 ca	R.D.Euro:0,04 (*) R.A. Euro: 0,01	4974
L	Proprieta' per 1/1	TRISSINO (VI)	22	113		BOSCO CEDUO	2	1 are 35 ca	R.D.Euro:0,14 (*) R.A. Euro: 0,03	4264
L	Proprieta' per 1/1	TRISSINO (VI)	22	13		BOSCO CEDUO	2	3 are 91 ca	R.D.Euro:0,40 (*) R.A. Euro: 0,08	4974
L	Proprieta' per 1/1	TRISSINO (VI)	22	167		SEMIN ARBOR	2	1 ha 69 are 29 ca	R.D.Euro:118,03 R.A. Euro: 74,32	4693
L	Proprieta' per 1/2	TRISSINO (VI)	22	203		VIGNETO	1	4 are 50 ca	R.D.Euro:5,46 R.A. Euro: 3,25	9697
L	Proprieta' per 1/1	TRISSINO (VI)	22	21		BOSCO CEDUO	2	1 are 82 ca	R.D.Euro:0,19 (*) R.A. Euro: 0,04	5308
L	Proprieta' per 1/1	TRISSINO (VI)	22	238		BOSCO CEDUO	2	40 ca	R.D.Euro:0,04 (*) R.A. Euro: 0,01	4264
L	Proprieta' per 1/1	TRISSINO (VI)	22	29		SEMINATIVO	3	29 are 94 ca	R.D.Euro:16,92 (*) R.A. Euro: 12,37
L	Proprieta' per 1/1	TRISSINO (VI)	22	342		SEM IRR ARB	2	41 are 80 ca	R.D.Euro:33,29 (*) R.A. Euro: 21,59	5308
L	Proprieta' per 1/1	TRISSINO (VI)	22	351		PRATO IRRIG	1	92 are 93 ca	R.D.Euro:62,08 (*) R.A. Euro: 36,00	5308
L	Proprieta' per 1/1	TRISSINO (VI)	22	439		PRATO IRRIG	2	86 ca	R.D.Euro:0,51 (*) R.A. Euro: 0,29
L	Proprieta' per 1/1	TRISSINO (VI)	22	441		PRATO IRRIG	1	4 are 3 ca	R.D.Euro:2,71 R.A. Euro: 1,56
L	Proprieta' per 1/1	TRISSINO (VI)	22	461		PRATO IRRIG	2	58 are 35 ca	R.D.Euro:34,66 R.A. Euro: 19,59
L	Proprieta' per 1/1	TRISSINO (VI)	22	480		VIGNETO	1	62 ca	R.D.Euro:0,75 R.A. Euro: 0,45
L	Proprieta' per 1/1	TRISSINO (VI)	22	482		VIGNETO	1	40 ca	R.D.Euro:0,48 (*) R.A. Euro: 0,29
L	Proprieta' per 1/1	TRISSINO (VI)	22	512		PRATO IRRIG	1	34 are 39 ca	R.D.Euro:23,09 R.A. Euro: 13,32
L	Proprieta' per 1/1	TRISSINO (VI)	22	513		PRATO IRRIG	1	25 are 90 ca	R.D.Euro:17,39 R.A. Euro: 10,03
L	Proprieta' per 1/1	TRISSINO (VI)	22	514		SEM IRR ARB	2	50 are 53 ca	R.D.Euro:40,25 (*) R.A. Euro: 26,10
L	Proprieta' per 1/1	TRISSINO (VI)	22	515		SEM IRR ARB	2	4 are 2 ca	R.D.Euro:3,20 (*) R.A. Euro: 2,08
L	Proprieta' per 1/1	TRISSINO (VI)	22	90		SEM IRR ARB	3	16 are 75 ca	R.D.Euro:9,90 (*) R.A. Euro: 7,35	3560

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

Subject is active since 1999

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 22,03% on 2016) but without a significant increase in the turnover.

The return on Investment in the last financial year was positive (12,4%) and reflects the field's average.

An operating result of Eur. 21.681.165 has been registered. with a 85,22% growth.

The G.O.M. amounted to Eur. 26.086.849 growing by 57,88% if compared to the year before.

Company's financial status is balanced since indebtedness is not high (1,15) with an improving trend as on the decrease.

The equity capital is equal to Eur. 73.147.906 , with an upward trend.

During the last financial year debts totalled Eur. 84.856.180 (Eur. 672.470 of which were m/l term debts) with no important change.

Bank and suppliers credit recourse is limited, 62,14 gg. is payment average period below the sector's average.

The management determines a good range of liquidity.

As to due from customers, the average terms are 50,38 days. , lower than the sector's average.

The financial management generated a cash flow of Eur. 20.518.823.

Subordinate employment cost is of Eur. 23.806.898, i.e. 12,16% on total production costs. , whereas the incidence of such costs on sales revenues is equal to 11,11%.

The financial management has a limited economic impact, equal to -0,22% on the sales.

Financial Data

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

Item Type	Value
Sales	214.249.597
Profit (Loss) for the period	16.113.139

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

Item Type	Value
Sales	217.696.315
Profit (Loss) for the period	3.765.927

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

Item Type	Value
Sales	222.411.005
Profit (Loss) for the period	1.502.119

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

Item Type	Value
Sales	240.368.794
Profit (Loss) for the period	-962.128

$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Verde.gif$

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

Item Type	Value
Sales	222.140.555
Profit (Loss) for the period	-3.814.062

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.			182
. . Industrial patent rights	314.077	442.406	435.225
. . Concessions,licenses,trademarks,etc.	15.906	21.218	23.737
. . Goodwill
. . Assets in formation and advance paymen.	6.253		4.140
. . Other intangible fixed assets	227.876	264.796	310.287
. Total Intangible Fixed Assets	564.112	728.420	773.571
. TANGIBLE FIXED ASSETS
. . Real estate	45.904.881	46.884.286	47.966.534
. . Plant and machinery	6.173.682	6.212.697	6.476.899
. . Industrial and commercial equipment	244.920	217.819	216.158
. . Other assets	1.786.661	1.665.049	1.660.708
. . Assets under construction and advances	216.539	30.686	10.102
. Total Tangible fixed assets	54.326.683	55.010.537	56.330.401
. FINANCIAL FIXED ASSETS
. . Equity investments	20.208.226	18.943.769	17.741.008
. . . Equity invest. in subsidiary companies	16.439.067	16.439.067	12.335.317
. . . Equity invest. in associated companies	63	55.355	55.355
. . . Equity invest. in holding companies
. . . Equity invest. in other companies	3.769.096	2.449.347	5.350.336
. . Financial receivables	180.856	1.433.478	6.935.253
. . . . Within 12 months
. . . . Beyond 12 months	180.856	1.433.478	6.935.253
. . . Receivab due from subsidiaries		759.654	6.312.052
. . . . Within 12 months
. . . . Beyond 12 months		759.654	6.312.052
. . . Receivables due from assoc.comp.		479.967	479.967
. . . . Within 12 months
. . . . Beyond 12 months		479.967	479.967
. . . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from third parties	180.856	193.857	143.234
. . . . Within 12 months
. . . . Beyond 12 months	180.856	193.857	143.234
. . Other securities
. . Own shares
. . . Total nominal value
. Total financial fixed assets	20.389.082	20.377.247	24.676.261
Total fixed assets	75.279.877	76.116.204	81.780.233
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables	13.729.845	9.193.569	13.141.118
. . Work in progress and semimanufactured	24.795.678	22.727.548	22.477.645
. . Work in progress on order
. . Finished goods	5.446.244	7.651.888	8.592.297
. . Advance payments	4.861.326	1.770.643	965.865
. Total Inventories	48.833.093	41.343.648	45.176.925
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	50.245.843	51.540.369	52.212.846
. . Beyond 12 months	645	24.246	34.422
. . Trade receivables	29.983.728	30.141.761	30.942.903
. . . . Within 12 months	29.983.728	30.141.761	30.942.903
. . . . Beyond 12 months
. . Receivables due from subsid. comp.	15.174.048	16.044.455	15.688.838
. . . . Within 12 months	15.174.048	16.044.455	15.688.838
. . . . Beyond 12 months
. . Receivables due from assoc. comp.	186.076	329.080	367.900
. . . . Within 12 months	186.076	329.080	367.900
. . . . Beyond 12 months
. . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . Fiscal Receivables	3.643.765	3.663.956	1.653.125
. . . . Within 12 months	3.643.150	3.639.710	1.618.703
. . . . Beyond 12 months	615	24.246	34.422
. . Receivables for anticipated taxes	829.768	987.983	968.190
. . . . Within 12 months	829.768	987.983	968.190
. . . . Beyond 12 months
. . Receivables due from third parties	429.103	397.380	2.626.312
. . . . Within 12 months	429.073	397.380	2.626.312
. . . . Beyond 12 months	30
. Total Credits not held as fixed assets	50.246.488	51.564.615	52.247.268
. 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			75.000
. Total Financial Assets	161.417		75.000
. LIQUID FUNDS
. . Bank and post office deposits	157.016	746.106	405.280
. . Checks
. . Banknotes and coins	11.730	16.409	12.082
. Total Liquid funds	168.746	762.515	417.362
Total current assets	99.409.744	93.670.778	97.916.555
ADJUSTMENT ACCOUNTS
. Discount on loans		175.138	214.364
. Other adjustment accounts	208.784
Total adjustments accounts	208.784	175.138	214.364
TOTAL ASSETS	174.898.405	169.962.120	179.911.152

LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	39.000.000	39.000.000	39.000.000
. Additional paid-in capital
. Revaluation reserves	12.081.384	10.701.407	9.743.909
. Legal reserve	1.345.952	1.157.656	1.082.550
. Reserve for Own shares
. Statute reserves
. Other reserves	4.607.431	5.409.778	3.982.763
. Accumulated Profits (Losses)
. Profit( loss) of the year	16.113.139	3.765.927	1.502.119
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	73.147.906	60.034.768	55.311.341
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.	1.034.122	954.490	981.946
. . Taxation fund, also differed	12.423.522	12.537.074	13.213.230
. . Other funds	209.607	653.492	377.240
Total Reserves for Risks and Charges	13.667.251	14.145.056	14.572.416
Employee termination indemnities	3.136.522	3.223.683	3.618.179
ACCOUNTS PAYABLE
. . . . Within 12 months	84.183.710	92.337.839	106.023.551
. . . . Beyond 12 months	672.470
. . 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	43.837.045	53.394.661	68.288.718
. . . . Within 12 months	43.164.575	53.394.661	68.288.718
. . . . Beyond 12 months	672.470
. . Due to other providers of finance	634.096	2.342.167	4.534.675
. . . . Within 12 months	634.096	2.342.167	4.534.675
. . . . Beyond 12 months
. . Advances from customers	769.828	594.988	1.661.047
. . . . Within 12 months	769.828	594.988	1.661.047
. . . . Beyond 12 months
. . Trade payables	22.699.090	17.990.170	20.790.823
. . . . Within 12 months	22.699.090	17.990.170	20.790.823
. . . . Beyond 12 months
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies	6.838.661	8.396.996	3.366.915
. . . . Within 12 months	6.838.661	8.396.996	3.366.915
. . . . Beyond 12 months
. . Due to associated companies		9.978	3.940
. . . . Within 12 months		9.978	3.940
. . . . Beyond 12 months
. . Due to holding companies
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to the tax authorities	2.389.138	3.677.552	1.268.599
. . . . Within 12 months	2.389.138	3.677.552	1.268.599
. . . . Beyond 12 months
. . Due to social security and welfare inst.	2.111.051	2.024.092	2.169.658
. . . . Within 12 months	2.111.051	2.024.092	2.169.658
. . . . Beyond 12 months
. . Other payables	5.577.271	3.907.235	3.939.176
. . . . Within 12 months	5.577.271	3.907.235	3.939.176
. . . . Beyond 12 months
Total accounts payable	84.856.180	92.337.839	106.023.551
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts	90.546	220.774	385.665
Total adjustment accounts	90.546	220.774	385.665
TOTAL LIABILITIES	174.898.405	169.962.120	179.911.152

MEMORANDUM ACCOUNTS

Third party goods
Investment accounts		3.687.120
Risk accounts		5.644.521
Civil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION
. Revenues from sales and services	214.249.597	217.696.315	222.411.005
. Changes in work in progress	-137.514	-690.507	-6.009.409
. Changes in semi-manufact. products
. Capitalization of internal work
. Other income and revenues	3.355.263	2.390.837	3.038.191
. . Contributions for operating expenses	53.137	34.891	17.466
. . Different income and revenues	3.302.126	2.355.946	3.020.725
Total value of production	217.467.346	219.396.645	219.439.787
PRODUCTION COSTS
. Raw material,other materials and consum.	144.037.656	148.444.227	157.031.628
. Services received	26.671.052
. Leases and rentals	420.040	26.841.150	29.078.814
. Payroll and related costs	23.806.898	22.854.330	24.237.648
. . Wages and salaries	16.019.851	15.638.159	16.495.839
. . Social security contributions	5.227.016	5.122.689	5.547.515
. . Employee termination indemnities	1.049.628	1.065.212	1.090.317
. . Pension and similar
. . Other costs	1.510.403	1.028.270	1.103.977
. Amortization and depreciation	4.405.684	4.373.661	4.360.633
. . Amortization of intangible fixed assets	197.964	204.785	181.187
. . Amortization of tangible fixed assets	4.025.666	3.955.400	3.795.576
. . Depreciation of tangible fixed assets
. . Writedown of current receiv.and of liquid	182.054	213.476	383.870
. Changes in raw materials	-4.536.277	3.947.549	-2.527.929
. Provisions to risk reserves		443.885	100.000
. Other provisions
. Other operating costs	981.128	786.516	858.058
Total production costs	195.786.181	207.691.318	213.138.852
Diff. between value and cost of product.	21.681.165	11.705.327	6.300.935
FINANCIAL INCOME AND EXPENSE
. Income from equity investments	233.059	225.629	180.503
. . In subsidiary companies
. . In associated companies	6.894
. . In other companies	226.165	225.629	180.503
. Other financial income	294.771	441.686	789.139
. . Financ.income from receivables
. . . Towards subsidiary companies
. . . Towards associated companies
. . . Towards holding companies
. . . Towards other companies
. . Financ.income from secur. t.f.assets			1
. . Financ.income from secur. cur.assets		10.017	9.988
. . Financ.income other than the above	294.771	431.669	779.150
. . . - Subsidiary companies	252.052	404.520	717.469
. . . - Associated companies
. . . - Holding companies
. . . - Other companies	42.719	27.149	61.681
. Interest and other financial expense	-1.003.581	-1.656.216	-3.772.600
. . Towards subsidiary companies		-15.899	-160.071
. . Towards associated companies
. . Towards holding companies
. . Towards other companies		-1.640.317	-3.612.529
Total financial income and expense	-475.751	-988.901	-2.802.958
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations	161.417
. . Of equity investments
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets	161.417
. Devaluation	-36.184	-2.992.687	-674.182
. . Of equity investments	-36.184	-2.992.687	-674.182
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets	125.233	-2.992.687	-674.182
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income		185.811	2.658.264
. . Gains on disposals			2.025.204
. . Other extraordinary income		185.811	633.060
. Extraordinary expense		-1.285.861	-1.211.524
. . Losses on disposals
. . Taxes relating to prior years		-1.211.974
. . Other extraordinary expense		-73.887	-1.211.524
Total extraordinary income and expense		-1.100.050	1.446.740
Results before income taxes	21.330.647	6.623.689	4.270.535
. Taxes on current income	5.217.508	2.857.762	2.768.416
. . current taxes	5.164.893	3.809.758	1.324.304
. . differed taxes(anticip.)		-938.451	1.356.618
. Net income for the period	16.113.139	3.765.927	1.502.119
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	16.113.139	3.765.927	1.502.119

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	0,43	0,45	0,45	0,18
Elasticity Ratio	Units	0,57	0,55	0,54	0,80
Availability of stock	Units	0,28	0,24	0,25	0,20
Total Liquidity Ratio	Units	0,29	0,31	0,29	0,51
Quick Ratio	Units	0,00	0,00	0,00	0,02
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	1,15	1,53	1,91	2,38
Self Financing Ratio	Units	0,42	0,35	0,31	0,24
Capital protection Ratio	Units	0,25	0,29	0,27	0,68
Liabilities consolidation quotient	Units	0,05	0,03	0,03	0,18
Financing	Units	1,16	1,54	1,92	2,86
Permanent Indebtedness Ratio	Units	0,44	0,37	0,33	0,38
M/L term Debts Ratio	Units	0,02	0,02	0,02	0,11
Net Financial Indebtedness Ratio	Units	0,61	0,92	1,31	1,00
CORRELATION
Fixed assets ratio	Units	1,02	0,83	0,72	1,78
Current ratio	Units	1,18	1,01	0,92	1,25
Acid Test Ratio-Liquidity Ratio	Units	0,60	0,57	0,50	0,84
Structure's primary quotient	Units	0,97	0,79	0,68	1,07
Treasury's primary quotient	Units	0,00	0,01	0,00	0,03
Rate of indebtedness ( Leverage )	%	239,10	283,11	325,27	408,81
Current Capital ( net )	Value	15.226.034	1.332.939	-8.106.996	312.424
RETURN
Return on Sales	%	9,58	3,74	2,64	2,67
Return on Equity - Net- ( R.O.E. )	%	22,03	6,27	2,72	3,20
Return on Equity - Gross - ( R.O.E. )	%	29,16	11,03	7,72	8,58
Return on Investment ( R.O.I. )	%	12,40	6,89	3,50	4,36
Return/ Sales	%	10,12	5,38	2,83	3,63
Extra Management revenues/charges incid.	%	74,32	32,17	23,84	23,99
Cash Flow	Value	20.518.823	8.139.588	5.862.752	112.609
Operating Profit	Value	21.681.165	11.705.327	6.300.935	127.644
Gross Operating Margin	Value	26.086.849	16.522.873	10.761.568	230.719
MANAGEMENT
Credits to clients average term	Days	50,38	49,84	50,08	101,46
Debts to suppliers average term	Days	62,14	54,21	46,74	94,66
Average stock waiting period	Days	82,05	68,37	73,12	56,34
Rate of capital employed return ( Turnover )	Units	1,22	1,28	1,24	1,34
Rate of stock return	Units	4,39	5,27	4,92	6,30
Labour cost incidence	%	11,11	10,50	10,90	12,44
Net financial revenues/ charges incidence	%	-0,22	-0,45	-1,26	-1,48
Labour cost on purchasing expenses	%	12,16	11,00	11,37	12,90
Short-term financing charges	%	1,18	1,79	3,56	3,49
Capital on hand	%	81,63	78,07	80,89	74,43
Sales pro employee	Value	288.357	304.896	293.805	253.464
Labour cost pro employee	Value	32.041	32.008	32.018	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	:	$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Spazio.gif$ 831.356
Population living in the region	:	$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Spazio.gif$ 4.699.950
Number of families in the region	:	$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Spazio.gif$ 1.813.210

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

- per food products	:	$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Spazio.gif$ 456
- per non food products	:	$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Spazio.gif$ 2.052
- per energy consume	:	$Description: \\vivek-pc\E\Rino Mastrotto Group S.p.a. - Vs. Rif. 516813_files\Spazio.gif$ 127

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 13.782 protested subjects are found; in the province they count to 2.234.

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

Total Bankrupt companies in the province : 2.546.

Total Bankrupt companies in the region : 16.714.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.15
UK Pound	1	INR 90.27
Euro	1	INR 79.35
Euro	1	INR 79.57

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

INFORMATION DETAILS

Analysis Done by :	PRA

Report Prepared by :	SYL

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.

MIRA INFORM REPORT

Company name and address

Summary

Activity

legal Data

Members

Companies connected to members *

Capital Shareholders

Direct Participations

Firm's location and structure

Historical Information and/or Firm's Status

Protests

Data Base Prejudicial Events Search

Legal Procedures

Bankers

National Real Estates Survey

Financial and Economical Analysis

Financial Data

Balance Sheets

Remarks

Market / Territory Data

Sector Data

Statistical Detrimental Data

Unit