***********************************
***********************************
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Fiscal Code : *************
S U M M A R Y
Fiscal Code : *************
Legal Form : Joint stock company
Activity started on : 06/04/1987
Company Worth : Over 2.500.000 Eur
Turnover range : 50.000.000/75.000.000 Eur
Employees range : from 251 to 500
Credit Opinion : 711.200 Eur
Score : 5 ( low risk )
F I N A N C I A L R E M A R K S
Modest recourse to shareholder's equity and m/l-term liabilities to
finance investments.
Debts are a bit high compared with net worth.
The liquidity is scanty. Strong recourse to bank and/or supplier
credit.
The return is slightly below-average.
The collection terms are normal for the sector average.
The average term of debts to suppliers is shorter than the sector
one.
No irregularities are registered.
L E G A L P O S I T I O N
Fiscal Code *************
Foreign Trade Reg. no. *** since 24/12/1991
Foreign Trade Reg. no. ****** since 24/12/1991
Chamber of Commerce no. ***** since 05/05/1987
Chamber of Commerce no. ******* since 01/09/1988
Firms' Register ********* since 19/02/1996
Established on : 21/03/1987 Constitution date : 21/03/1987
Activity started on : 06/04/1987 Duration : 30/09/2010
Nominal Capital : 10.920.000 Eur
Subscribed Capital : 10.920.000 Eur
Issued Capital : 10.920.000 Eur
A C T I V I T Y
ISTAT Code : 251.3 (P)
Production of plastic substances, synthetical resins and elastomers.
ISTAT Code : 483 (P) NACE Code : 2520
Production of plastic products.
ISTAT Code : 483.0.06 (P) NACE Code : 2521
Production of sheathes, structural shapes and tubes of plastic.
ISTAT Code : 483.0.24 (P) NACE Code : 2524
Production of plastic boxes, cases, containers.
M E M B E R S
Francalanci Massimo
born in CAPRAIA E LIMITE - IT - on 01/05/1963.
F.C. FRNMSM63E01B684Q.
Residence : Via LARINI,, 33
50056 Capraia e Limite (FI) - IT -
Director since 27/05/2004 until 31/12/2004.
Procurator.
Managing Director since 27/05/2004 until 31/12/2004.
Protests:
None registered.
The member under review is also the :
Director of
IRPLAST - S.P.A.
Head Office in Via Eugenio E Priamo Salani, 45
50056 Capraia e Limite (FI) - IT -.
( Position present in D.B. EURO code n.: 50.327 )
Director since 30/04/1999 of
HUBER ITALIA S.P.A.
Head Office in Via A. Meucci, 6
36050 Bolzano Vicentino (VI) - IT -.
( Position present in D.B. EURO code n.: 1.462.965 )
General Partner of
FLAVIO BINI & C. SOCIETA' IN ACCOMANDITA PER AZIONI
Head Office in Via CANTU' CESARE, 3
20100 Milano (MI) - IT -.
( Position present in D.B. EURO code n.: 1.731.566 )
Bini Flavio
born in LIVORNO - IT - on 18/06/1936.
F.C. BNIFLV36H18E625Q.
Director since 27/05/2004 until 31/12/2004.
Managing Director since 27/05/2004 until 31/12/2004.
Board Chairman since 27/05/2004 until 31/12/2004.
Partner since 06/04/1987 until 01/06/1992.
Protests:
None registered.
The member under review is also the :
Board Chairman of
IRPLAST - S.P.A.
Head Office in Via Eugenio E Priamo Salani, 45
50056 Capraia e Limite (FI) - IT -.
( Position present in D.B. EURO code n.: 50.327 )
Sole Director since 26/04/1999 of
IRPLASTNASTRI - INDUSTRIA NASTRI ADESIVI - S.P.A.
Head Office in Via Salani
50056 Capraia e Limite (FI) - IT -.
( Position present in D.B. EURO code n.: 155.592 )
Partner of
BI.SA. di Salani Giulio Cesare e C. Snc
Head Office in Via Provinciale di Limite Fraz.Spicchio, 96
50059 Vinci (FI) - IT -.
( Position present in D.B. EURO code n.: 769.568 )
Proprietor of
BINI FLAVIO
Head Office in Via G. e G.Larini, 33
50056 Capraia e Limite (FI) - IT -.
( Position present in D.B. EURO code n.: 769.573 )
General Partner of
FLAVIO BINI & C. SOCIETA' IN ACCOMANDITA PER AZIONI
Head Office in Via CANTU' CESARE, 3
20100 Milano (MI) - IT -.
( Position present in D.B. EURO code n.: 1.731.566 )
Pucci Nicla
born in CAPRAIA E LIMITE - IT - on 05/01/1957.
F.C. PCCNCL57A45B684G.
Residence : Via PALAZZACCIO, 2 PR.
50056 Capraia e Limite (FI) - IT -
Director since 27/05/2004 until 31/12/2004.
Protests:
None registered.
CASAGNI STEFANO
born in GROSSETO - IT - on 15/08/1961.
F.C. CSGSFN61M15E202O.
Residence : Lungarno TORRIGIANI, 35
50100 Firenze (FI) - IT -
Chairman of the Board of Aud. since 18/06/2002.
Protests:
None registered.
SCANAVACCA GIOVANNI
born in NOVARA - IT - on 31/08/1967.
F.C. SCNGNN67M31F952W.
Residence : Via VALICO, 16
55011 Altopascio (LU) - IT -
Attorney with special power since 14/12/2001.
Protests:
None registered.
BORIO GIANFRANCO
born in SANREMO - IT - on 28/07/1966.
F.C. BROGFR66L28I138K.
Residence : Via GRECIA, 37
50100 Firenze (FI) - IT -
Permanent Auditor since 18/06/2002.
Protests:
None registered.
ARRIGHI ALBERTO
born in OMEGNA - IT - on 24/08/1939.
F.C. RRGLRT39M24G062L.
Residence : Viale ALESSANDRO VOLTA, 14
50100 Firenze (FI) - IT -
Permanent Auditor since 18/06/2002.
Protests:
None registered.
De Donno Maurizio
born in Galatina on 10/09/1962.
F.C. DDNMRZ62P10D862A.
Residence : Via Varchi Benedetto, 39
50100 Firenze (FI) - IT -
Temporary Auditor since 27/05/2004 until 31/12/2004.
Protests:
None registered.
The member under review is also the :
Temporary Auditor since 10/06/1998 of
Nuova Osba - S.P.A.
Head Office in Via Delle Confina
50054 Fucecchio (FI) - IT -.
( Position present in D.B. EURO code n.: 73.341 )
Permanent Auditor since 07/05/1996 of
Ma-Mecc S.R.L.
Head Office in Viale C. Colombo, 74
50054 Fucecchio (FI) - IT -.
( Position present in D.B. EURO code n.: 613.258 )
L O C A T I O N A N D D I M E N S I O N S
Legal and operative seat since 25/09/1987
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Telephone no. **********
Branch ( Representative office ) since 01/09/1988
Via Tazzoli Enrico, 6
20100 Milano (MI) - IT -
Branch ( Factory ) since 01/01/1999
Contrada Saletti Agglomerato B Zona Ind.le, s.n.
Zona Industriale 66041 Atessa (CH) - IT -
Telephone no. 0872/88421
Branch ( Store ) since 17/12/2002
66041 Atessa (CH) - IT -
Branch ( Store ) since 17/12/2002
Zona Industriale Ovest 1
66043 Casoli (CH) - IT -
Employees : 254
Fittings and Equipment for a value of 43.223.500 Eur.
Stocks for a value of 6.407.500 Eur.
Furniture and fittings for a value of 206.582 Eur.
Vehicles for a value of 387.342 Eur.
Sales area on a national scale.
Trade organization: direct or by agents.
The firm sells mainly to converting industries.
Exports are in the order of more than 50% of the whole turnover.
Firm's products are sold abroad by :
its own agents -
Brands handeled / Suppliers :
BIMO - STILAN - IRPLAST -
F I N A N C I A L D A T A
Complete balance-sheet for the year as at 30/09/1991 ( 12 months)
Sales : 19.918.709 (filed balance sheet)
Profit (Loss) for the period : 2.379.833 (filed balance sheet)
Complete balance-sheet for the year as at 30/09/1992 ( 12 months)
Sales : 17.976.315 (filed balance sheet)
Profit (Loss) for the period : 1.699.143 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1993 ( 12 months)
Sales : 22.353.803 (filed balance sheet)
Profit (Loss) for the period : 2.295.650 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1994 ( 12 months)
Sales : 32.243.437 (filed balance sheet)
Profit (Loss) for the period : 2.524.957 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1995 ( 12 months)
Sales : 62.959.711 (filed balance sheet)
Profit (Loss) for the period : 11.355.854 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1996 ( 12 months)
Sales : 48.663.151 (filed balance sheet)
Profit (Loss) for the period : 4.240.111 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1997 ( 12 months)
Sales : 52.075.898 (filed balance sheet)
Profit (Loss) for the period : 2.926.244 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1998 ( 12 months)
Sales : 46.326.700 (filed balance sheet)
Profit (Loss) for the period : 1.273.582 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/1999 ( 12 months)
Sales : 44.767.000 (filed balance sheet)
Profit (Loss) for the period : 1.132.073 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/2000 ( 12 months)
Sales : 71.051.041 (filed balance sheet)
Profit (Loss) for the period : 1.023.101 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/2001 ( 12 months)
Sales : 71.426.505 (filed balance sheet)
Profit (Loss) for the period : 418.330 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/2002 ( 12 months)
Sales : 71.829.452 (filed balance sheet)
Profit (Loss) for the period : 1.286.991 (filed balance sheet)
Complete balance-sheet for the year as at 31/12/2003 ( 12 months)
Sales : 62.936.585 (filed balance sheet)
Profit (Loss) for the period : 95.119 (filed balance sheet)
B A N K E R S
Main national banks
P R O P E R T I E S
( In the name of the firm under review. Subject to survey. )
Real estates for a value of 12.090.120 Eur
P R O T E S T S
( according to the most up-to-date official publications, at
every given address, under its present style and under any other
former style )
None registered.
Legal form changes :
From Gen.Partnership to Joint Stock Co. on 01/06/1992
Ex - Members :
Viti Alessandro
born in Capraia e Limite - IT - on 16/08/1944.
F.C. VTILSN44M16B684I.
Via F.lli Cervi, 16
50056 Capraia e Limite (FI) - IT -
Director from 01/06/1992.
Mori Simonetto
born in Lastra A Signa - IT - on 27/04/1943.
F.C. MROSNT43D27E466T.
Via Ugo Corsi, 22
50100 Firenze (FI) - IT -
Director from 01/06/1992 until 29/12/1993.
Partner from 06/04/1987 until 01/06/1992.
SEVERIN ANDREA
born in MILANO - IT - on 31/08/1959.
F.C. SVRNDR59M31F205O.
Via CECCONI, 52
59100 Prato (PO) - IT -
Attorney with special power from 14/12/2001.
TANINI FRANCESCA
born in FIRENZE - IT - on 10/08/1966.
F.C. TNNFNC66M50D612N.
Via XX SETTEMBRE, 52
50100 Firenze (FI) - IT -
Temporary Auditor from 18/06/2002.
COLZI RICCARDO
born in FIRENZE - IT - on 03/02/1956.
F.C. CLZRCR56B03D612Y.
Via F. BARACCA, 171
50100 Firenze (FI) - IT -
Temporary Auditor from 18/06/2002.
Del Lupo Angelo
born in CAMPOBASSO - IT - on 03/03/1946.
F.C. DLLNGL46C03B519U.
Via REPUBBLICA VASTESE, 16
66054 Vasto (CH) - IT -
Technical Manager from 28/02/1996.
Balance sheet as at 31/12/2003 (12 mon.) in Eur x 1
Balance sheet as at 31/12/2002 (12 mon.) in Eur x 1
FINANCIAL STATEMENT 31/12/2003 31/12/2002
A S S E T S
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CREDITS TO SHAREHOLDERS -
FIXED ASSETS -64.585.103 63.095.973
Intangible assets - 8.283.180 5.140.863
Tangible assets -56.298.017 57.951.204
Lands and buildings -12.090.120 11.976.572
Plants, Equipment and Machinery -43.223.389 44.894.118
Financial Fixed Assets - 3.906 3.906
Financial assets - 3.906 3.906
Company's own shares -
CURRENTS ASSETS -27.535.731 29.706.012
Inventories - 6.407.525 6.349.200
Receivables -20.742.366 22.484.860
Trade Debtors -16.052.856 18.314.641
Othes credits - 4.689.510 4.170.219
Short term financial assets -
Cash and Banks - 385.840 871.952
PREPAYMENTS - 104.674 129.506
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TOTAL ASSETS -92.225.508 92.931.491
L I A B I L I T I E S
---------------------
NET WORTH -23.345.759 23.250.640
Registered Capital -10.920.000 10.920.000
Reserves - 1.312.270 1.247.921
Company's own shares reserves -
Retained profits ( losses ) -11.018.370 9.795.728
Profits ( losses ) - 95.119 1.286.991
PROVISION CHARGES ACCOUNTS - 224.159 31.259
STAFF TERM. INDEMM. PROV. - 2.451.500 2.338.816
DEBTS -60.738.341 61.485.415
M/L Term financial debts - 8.016.052 10.902.642
Banks - 8.016.052 10.902.642
Bonds -
Sundry -
Short term financial debts -37.562.103 33.339.335
Banks -37.562.103 33.339.335
Bonds -
Sundry -
M/L term trade creditors -
Short term trade creditors - 9.397.988 12.156.222
Sundry M/L term debts - 3.216.731 2.380.660
Sundry short-term debts - 2.545.467 2.706.556
ANTICIPATED REVENUES - 5.465.749 5.825.361
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TOTAL LIABILITIES -92.225.508 92.931.491
Commitments -
Risks -
I N C O M E S T A T E M E N T S
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OUTPUT VALUE -69.819.082 75.773.055
Revenues from sales-service -62.936.585 71.829.452
Change of stock - 280.640- 1.446.401
OPERATING EXPENSES -66.668.663 71.024.070
Purchase expenses -35.802.916 38.552.001
Change of stock (raw materials) - 338.965- 201.153
Services costs -15.366.940 15.867.985
Rental costs - 206.768 210.215
General expenses / sundry charges - 183.023 300.341
Staff expenses - 8.737.019 8.877.004
Depreciations - 6.710.962 7.015.371
FINANCIAL REVENUES (CHARGES) - 2.685.723- 2.529.605-
Interest payable - 2.813.896- 2.650.930-
Interest receivable - 128.173 121.325
INTEREST ADJUSTMENT -
EXTRAORDINARY FINANCIAL REVENUES (CHARGES)- 233.970 64.852
PROFITS (LOSS) FOR THE PERIOD - 698.666 2.284.232
TAX - 603.547 997.241
TAXES ADJUSTMENT -
NET PROFITS (LOSS) - 95.119 1.286.991
Gross Operating Margin (G.O.M.) - 2.639.919 8.021.906
Operating Result - 4.071.043- 1.006.535
Cash Flow - 6.806.081 8.302.362
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R A T I O S V.O. values at values at Avar.
31/12/2003 31/12/2002 Sector
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FIXED ASSETS RATIO U => 1 0,57 0,61 1,52
NET SHORT-TERM INDEBTEDNESS U < 1 2,10 2,03 0,81
CURRENT RATIO U => 1 0,55 0,61 1,58
QUICK RATIO U => 1 0,42 0,48 1,14
RETURN ON SALES % 10,81 11,55 3,62-
AVERAGE STOCK WAITING PERIOD D 36,64 31,78 70,18
CREDIT AVERAGE TERM D 91,80 91,76 139,48
DEBT. AVERAGE TERM TO SUPPL. D 65,84 80,10 101,18
FIN. INCOME (CHARGES)/SALES % 4,26- 3,52- 1,36-
LABOUR COST/SALES % 13,88 12,35 15,12
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O.V. = Optimal Value. If unshown, relate to the sector.
Sector average calculated on the basis of no. 867 positions
from Euro data bank.
U=Unit %=Percentage D=Days
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*** End of Report ***
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