3decades

MIRA INFORM REPORT

Report No. :	495371
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	GI.BI.DI. S.R.L

Registered Office :	Via Abetone Brennero, 177/B, 46025- Poggio Rusco(MN)-IT

Country :	Italy

Financials (as on) :	31.12.2016

Date of Incorporation :	22.11.2007

Legal Form :	Limited liability company

Line of Business :	· Manufacture of metal doors, windows and their frames, shutters and gates · Manufacture of other electrical equipment n.e.c.

No. of Employees :	From 16 to 25

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 :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

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 compromises 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. 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

Gi.bi.di. S.r.l.

Via

Abetone Brennero,

177/B

46025

- Poggio Rusco

(MN)

-IT-

Summary

Fiscal Code	:	02209360201
Legal Form	:	Limited liability company
start of Activities	:	10/12/2007
Equity	:	400.000
Turnover Range	:	3.750.000/5.000.000
Number of Employees	:	from 16 to 25

Activity

Manufacture of metal doors, windows and their frames, shutters and gates

Manufacture of other electrical equipment n.e.c.

Legal Data

Legal Form : Limited liability company

Fiscal Code : 02209360201

Foreign Trade Reg. no. : MN022144 since 28/12/2007

Chamber of Commerce no. : 233603 of Mantova since 04/12/2007

V.A.T. Code : 02209360201

Establishment date	: 22/11/2007
Start of Activities	: 10/12/2007
Legal duration	: 31/12/2040
Nominal Capital	: 100.000
Subscribed Capital	: 100.000
Paid up Capital	: 100.000

Legal mail :

GIBIDI@LEGALMAIL.IT

Members

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Prandi

Michele

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Born in Ostiglia

(MN)

on 02/07/1975

- Fiscal Code : PRNMHL75L02G186K

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Residence:

Dosso

, 124

- 46047

Porto Mantovano

(MN)

- IT -

Position	Since	Shares Amount	% Ownership
Director	18/03/2016
Board Chairman	18/03/2016
Managing Director	19/04/2016

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No Prejudicial events are reported

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No Protests registered

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Ballerio

Vittorio

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Born in Varese

(VA)

on 03/08/1961

- Fiscal Code : BLLVTR61M03L682R

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Residence:

Santa Croce

, 3

- 21040

Caronno Varesino

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Director	18/03/2016
Managing Director	19/04/2016

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No Prejudicial events are reported

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No Protests registered

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G.b.d. 2.0 Srl

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Galliani

, 46/BIS

- 21020

Casale Litta

(VA)

- IT -

Position	Since	Shares Amount	% Ownership
Partner

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No Prejudicial events are reported

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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.

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Ballerio

Vittorio

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Banks S.r.l.	Casale Litta (VA) - IT -	01745890127	Sole Director	Active	Registered
Banks S.r.l.	Casale Litta (VA) - IT -	01745890127	Sole partner	Active	Registered
Confapi Lombarda Fidi - Societa' Cooperativa Di Garanzia Collettiva Dei Fidi. La	Brescia (BS) - IT -	98100410178	Director	Withdrawn	Registered
Htc Srl	Casale Litta (VA) - IT -	03232230122	Sole Director	Active	Registered
Malpensa Med Srl	Varese (VA) - IT -	03057890125	Director	Active	Registered
Malpensa Med Srl	Varese (VA) - IT -	03057890125	Board Chairman	Active	Registered
G.b.d. 2.0 Srl	Casale Litta (VA) - IT -	03364920128	Sole Director	Active	Registered

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

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

Capital Shareholders

Shareholders' list as at date of data collection:

Firm's Style / Name	Seat / Residence	Fiscal Code	Owned Shares	% Ownership
Tattile Holding S.p.a.	Mairano - IT -	02659700963	11.000 .Eur	11,00
Prandi Michele	Porto Mantovano - IT -	PRNMHL75L02G186K	7.000 .Eur	7,00
G.b.d. 2.0 Srl	Casale Litta - IT -	03364920128	79.000 .Eur	79,00
Negrini Mauro		NGRMRA71E22E704O	3.000 .Eur	3,00

Direct Participations

The Company under review has participations in the following Companies:

Firm's Style	Seat	Fiscal Code	Owned Shares Amount	% Ownership	since	until	Share Status
Consorzio Con Attivita' Esterna Per L'in Ternazionalizzazione E La Promozione All	Mantova - IT -	00426700209					Active

Firm's location and structure

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

Legal and operative seat

Abetone Brennero

, 177/B

- 46025

- Poggio Rusco

(MN)

- IT -

PHONE

: 0386522011

: GIBIDI@LEGALMAIL.IT

Legal mail

: GIBIDI@LEGALMAIL.IT

Employees

: 20

Fittings and Equipment for a value of 490.000

Eur

Stocks for a value of 2.100.000

Eur

The firm has a direct commercial organization

Sales area on a national scale.

The company 's mainly customers are companies.

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

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

Traded Brands / Suppliers

- Bame srl

- Saip Srl

Historical Information and/or Firm's Status

Protests

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

Data Base Prejudicial Events Search

Search performed on a National Scale

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Prejudicial Events Search Result: NEGATIVE

Search performed on a specialized data base.

Legal Procedures

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

Bankers

The firm operates with:

Bank Name	Agency Name	Address	ZIP Code	City	ABI Code	CAB Code
Banca Popolare di Mantova		Via Matteotti, 157		Poggio Rusco	5204	57790

National Real Estates Survey

The requested subject is not present c/o the CADASTRE OFFICES.

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

The company is active since 2007

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

During the last years, it recorded positive net results (r.o.e. 19,55% in 2016) keeping the turnover steady during the last two years.

The operating result in 2016 was positive (5,84%) and in line with the sector's average.

The operating result is positive and amounts to Eur. 307.482 showing an upward trend 20,38% compared to the previous financial year.

The G.O.M. amounted to Eur. 510.634 , stable if compared to the year before.

The financial position is not well balanced as the volume of debts is fairly remarkable if compared to shareholder's equity, in fact total debts are 6,52 falling if compared to 2015.

It's shareholders funds amount to Eur. 377.745 with a growth of 24,29% in 2016.

Total indebtedness was equal to Eur. 4.373.326 (Eur. 1.848.744 was the value of m/l term debts) showing a stable trend as opposed to 2015 (Eur. 4.666.963).

Available funds are good.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 276.984

Labour cost expenses amount to Eur. 723.559 , representing 17,24% on the total of production costs. , whereas the incidence of such costs on sales revenues is equal to 16,71%.

Financial charges have a high incidence (-3,46%) on turnover figures.

Financial Data

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Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

Item Type	Value
Sales	4.330.866
Profit (Loss) for the period	73.832

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Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

Item Type	Value
Sales	4.206.948
Profit (Loss) for the period	31.575

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Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

Item Type	Value
Sales	4.058.420
Profit (Loss) for the period	1.662

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Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

Item Type	Value
Sales	3.944.243
Profit (Loss) for the period	1.448

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Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

Item Type	Value
Sales	4.040.417
Profit (Loss) for the period	-999.832

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.
. . Goodwill
. . Assets in formation and advance paymen.
. . Other intangible fixed assets
. Total Intangible Fixed Assets	1.167.793	1.268.615	1.353.816
. TANGIBLE FIXED ASSETS
. . Real estate
. . Plant and machinery
. . Industrial and commercial equipment
. . Other assets
. . Assets under construction and advances
. Total Tangible fixed assets	165.172	241.760	273.173
. FINANCIAL FIXED ASSETS
. . Equity investments
. . . Equity invest. in subsidiary companies
. . . Equity invest. in associated companies
. . . Equity invest. in holding companies
. . . Equity invest. in other companies
. . Financial receivables
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivab due from subsidiaries
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from assoc.comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from third parties
. . . . Within 12 months
. . . . Beyond 12 months
. . Other securities
. . Own shares
. . . Total nominal value
. Total financial fixed assets	3.422	3.422	4.622
Total fixed assets	1.336.387	1.513.797	1.631.611
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables
. . Work in progress and semimanufactured
. . Work in progress on order
. . Finished goods
. . Advance payments
. Total Inventories	2.102.736	2.054.797	1.797.351
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	1.741.891	1.874.282	1.865.294
. . Beyond 12 months
. . Trade receivables
. . . . Within 12 months
. . . . Beyond 12 months
. . Receivables due from subsid. comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . Receivables due from assoc. comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . Fiscal Receivables
. . . . Within 12 months
. . . . Beyond 12 months
. . Receivables for anticipated taxes
. . . . Within 12 months
. . . . Beyond 12 months
. . Receivables due from third parties
. . . . Within 12 months
. . . . Beyond 12 months
. Total Credits not held as fixed assets	1.741.891	1.874.282	1.865.294
. FINANCIAL ASSETS
. . Equity invest. in subsidiary comp.
. . Equity invest. in associated companies
. . Equity invest. in holding companies
. . Other equity investments
. . Own shares
. . . Total nominale value
. . Other securities
. Total Financial Assets	1.270	1.270	1.270
. LIQUID FUNDS
. . Bank and post office deposits
. . Checks
. . Banknotes and coins
. Total Liquid funds	60.999	51.156	78.654
Total current assets	3.906.896	3.981.505	3.742.569
ADJUSTMENT ACCOUNTS
. Discount on loans
. Other adjustment accounts	17.916	18.921	16.797
Total adjustments accounts	17.916	18.921	16.797
TOTAL ASSETS	5.261.199	5.514.223	5.390.977

LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	100.000	100.000	100.000
. Additional paid-in capital
. Revaluation reserves
. Legal reserve	73	73	73
. Reserve for Own shares
. Statute reserves
. Other reserves	170.603	170.604	170.601
. Accumulated Profits (Losses)	33.237	1.662
. Profit( loss) of the year	73.832	31.575	1.662
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	377.745	303.914	272.336
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.
. . Taxation fund, also differed
. . Other funds
Total Reserves for Risks and Charges	28.907	27.449	25.843
Employee termination indemnities	481.221	515.897	541.135
ACCOUNTS PAYABLE
. . . . Within 12 months	2.524.582	2.790.076	2.430.303
. . . . Beyond 12 months	1.848.744	1.876.887	2.121.360
. . 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
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to other providers of finance
. . . . Within 12 months
. . . . Beyond 12 months
. . Advances from customers
. . . . Within 12 months
. . . . Beyond 12 months
. . Trade payables
. . . . Within 12 months
. . . . Beyond 12 months
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to associated companies
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to holding companies
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to the tax authorities
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to social security and welfare inst.
. . . . Within 12 months
. . . . Beyond 12 months
. . Other payables
. . . . Within 12 months
. . . . Beyond 12 months
Total accounts payable	4.373.326	4.666.963	4.551.663
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts
Total adjustment accounts
TOTAL LIABILITIES	5.261.199	5.514.223	5.390.977

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	4.330.866	4.206.948	4.058.420
. Changes in work in progress	-31.890	95.121	50.549
. Changes in semi-manufact. products
. Capitalization of internal work
. Other income and revenues	205.092	25.070	19.405
. . Contributions for operating expenses
. . Different income and revenues	205.092	25.070	19.405
Total value of production	4.504.068	4.327.139	4.128.374
PRODUCTION COSTS
. Raw material,other materials and consum.	2.640.134	2.527.842	2.241.354
. Services received	570.503	600.993	739.791
. Leases and rentals	49.139	52.814	107.099
. Payroll and related costs	723.559	696.027	694.311
. . Wages and salaries	532.580	499.753	473.297
. . Social security contributions	138.474	144.941	169.565
. . Employee termination indemnities	49.927	50.398	50.660
. . Pension and similar
. . Other costs	2.578	935	789
. Amortization and depreciation	203.152	276.631	434.497
. . Amortization of intangible fixed assets	119.062	168.976	332.690
. . Amortization of tangible fixed assets	76.748	100.495	94.655
. . Depreciation of tangible fixed assets
. . Writedown of current receiv.and of liquid	7.342	7.160	7.152
. Changes in raw materials	-75.470	-162.325	-42.736
. Provisions to risk reserves
. Other provisions
. Other operating costs	85.569	79.740	39.766
Total production costs	4.196.586	4.071.722	4.214.082
Diff. between value and cost of product.	307.482	255.417	-85.708
FINANCIAL INCOME AND EXPENSE
. Income from equity investments
. . In subsidiary companies
. . In associated companies
. . In other companies
. Other financial income	21	18	4.166
. . 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	21	18	4.166
. . . - Subsidiary companies
. . . - Associated companies
. . . - Holding companies
. . . - Other companies	21	18	4.166
. Interest and other financial expense	-149.856	-149.156	-158.926
. . Towards subsidiary companies
. . Towards associated companies
. . Towards holding companies
. . Towards other companies
Total financial income and expense	-149.835	-149.138	-154.760
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations
. . Of equity investments
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets
. Devaluation
. . Of equity investments
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income		20.001	426.952
. . Gains on disposals
. . Other extraordinary income		20.001	426.952
. Extraordinary expense		-34.638	-122.725
. . Losses on disposals
. . Taxes relating to prior years		-11.158
. . Other extraordinary expense		-23.480	-122.725
Total extraordinary income and expense		-14.637	304.227
Results before income taxes	157.647	91.642	63.759
. Taxes on current income	83.815	60.067	62.097
. . current taxes	12.104	3.775	20.309
. . differed taxes(anticip.)		56.292	41.788
. Net income for the period	73.832	31.575	1.662
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	73.832	31.575	1.662

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	0,25	0,27	0,30	0,19
Elasticity Ratio	Units	0,74	0,72	0,69	0,79
Availability of stock	Units	0,40	0,37	0,33	0,20
Total Liquidity Ratio	Units	0,34	0,35	0,36	0,52
Quick Ratio	Units	0,01	0,01	0,01	0,03
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	6,52	9,01	8,64	3,31
Self Financing Ratio	Units	0,07	0,06	0,05	0,18
Capital protection Ratio	Units	0,54	0,57	0,63	0,66
Liabilities consolidation quotient	Units	0,92	0,86	1,10	0,18
Financing	Units	11,58	15,36	16,71	4,09
Permanent Indebtedness Ratio	Units	0,51	0,49	0,54	0,33
M/L term Debts Ratio	Units	0,44	0,43	0,49	0,11
Net Financial Indebtedness Ratio	Units	n.c.	n.c.	n.c.	0,61
CORRELATION
Fixed assets ratio	Units	2,03	1,78	1,80	1,80
Current ratio	Units	1,55	1,43	1,54	1,23
Acid Test Ratio-Liquidity Ratio	Units	0,71	0,69	0,80	0,86
Structure's primary quotient	Units	0,28	0,20	0,17	1,12
Treasury's primary quotient	Units	0,02	0,02	0,03	0,07
Rate of indebtedness ( Leverage )	%	1392,79	1814,40	1979,53	541,00
Current Capital ( net )	Value	1.382.314	1.191.429	1.312.266	380.064
RETURN
Return on Sales	%	6,40	7,33	10,75	3,59
Return on Equity - Net- ( R.O.E. )	%	19,55	10,39	0,61	4,82
Return on Equity - Gross - ( R.O.E. )	%	41,73	30,15	23,41	19,04
Return on Investment ( R.O.I. )	%	5,84	4,63	-1,59	4,67
Return/ Sales	%	7,10	6,07	-2,11	4,49
Extra Management revenues/charges incid.	%	24,01	12,36	n.c.	25,43
Cash Flow	Value	276.984	308.206	436.159	134.539
Operating Profit	Value	307.482	255.417	-85.708	158.212
Gross Operating Margin	Value	510.634	532.048	348.789	292.137
MANAGEMENT
Credits to clients average term	Days	n.c.	n.c.	n.c.	103,46
Debts to suppliers average term	Days	n.c.	n.c.	n.c.	128,84
Average stock waiting period	Days	174,79	175,83	159,43	68,68
Rate of capital employed return ( Turnover )	Units	0,82	0,76	0,75	1,11
Rate of stock return	Units	2,06	2,05	2,26	5,22
Labour cost incidence	%	16,71	16,54	17,11	19,05
Net financial revenues/ charges incidence	%	-3,46	-3,55	-3,81	-1,26
Labour cost on purchasing expenses	%	17,24	17,09	16,48	19,40
Short-term financing charges	%	3,43	3,20	3,49	2,64
Capital on hand	%	121,48	131,07	132,83	90,11
Sales pro employee	Value	196.857	200.330	193.258	181.347
Labour cost pro employee	Value	32.889	33.144	33.062	33.314

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	:	$Description: \\vivek-pc\123 Foreign Report Raw\2\Gi.bi.di. S.r.l. - Vs. Rif. 495371_files\Spazio.gif$ 390.957
Population living in the region	:	$Description: \\vivek-pc\123 Foreign Report Raw\2\Gi.bi.di. S.r.l. - Vs. Rif. 495371_files\Spazio.gif$ 9.393.092
Number of families in the region	:	$Description: \\vivek-pc\123 Foreign Report Raw\2\Gi.bi.di. S.r.l. - Vs. Rif. 495371_files\Spazio.gif$ 3.858.736

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

- per food products	:	$Description: \\vivek-pc\123 Foreign Report Raw\2\Gi.bi.di. S.r.l. - Vs. Rif. 495371_files\Spazio.gif$ 460
- per non food products	:	$Description: \\vivek-pc\123 Foreign Report Raw\2\Gi.bi.di. S.r.l. - Vs. Rif. 495371_files\Spazio.gif$ 2.090
- per energy consume	:	$Description: \\vivek-pc\123 Foreign Report Raw\2\Gi.bi.di. S.r.l. - Vs. Rif. 495371_files\Spazio.gif$ 114

Sector Data

The values are calculated on a base of 1.330 significant companies.

The companies cash their credits on an average of 103 dd.

The average duration of suppliers debts is about 129 dd.

The sector's profitability is on an average of 3,59%.

The labour cost affects the turnover in the measure of 19,05%.

Goods are held in stock in a range of 69 dd.

The difference between the sales volume and the resources used to realize it is about 1,11.

The employees costs represent the 19,40% of the production costs.

Statistical Detrimental Data

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 1.630.

The insolvency index for the region is 0,55, , while for the province it is 0,42.

Total Bankrupt companies in the province : 954.

Total Bankrupt companies in the region : 39.612.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
Euro	1	INR 80.31

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

INFORMATION DETAILS

Analysis Done by :	VIV

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

Traded Brands / Suppliers

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