MIRA INFORM REPORT
|
Report Date : |
29.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
MECCANOTECNICA S.P.A. |
|
|
|
|
Registered Office : |
Via B. Maffeis, 4, 24025 - Gazzaniga (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
13.04.1987 |
|
|
|
|
Com. Reg. No.: |
BG024-31464 since 19/02/1996 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of machinery for printing and binding |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
70.000 Eur |
|
Status : |
Moderate |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Italy |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Meccanotecnica S.p.a.
Via B. Maffeis, 4
24025 - Gazzaniga (BG) -IT-
Summary
|
Fiscal Code |
: |
01773540164 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
10/09/1987 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
from 150 to 175 |
Credit Analysis
|
Credit Opinion |
: |
70.000 - Eur |
Activity
Manufacture of machinery for printing and
binding (including spare p
arts and accessories)
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 01773540164 |
|
Foreign Trade Reg. no. : BG021486 since
14/02/1992 |
|
Chamber of Commerce no. : 235529 of
Bergamo since 09/05/1987 |
|
Firms' Register : BG024-31464 since
19/02/1996 |
|
V.A.T. Code : 01773540164 |
|
Establishment date |
: 13/04/1987 |
|
|
Start of Activities |
: 10/09/1987 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 10.500.000 |
Eur |
|
Subscribed Capital |
: 10.500.000 |
Eur |
|
Paid up Capital |
: 10.500.000 |
Eur |
Members
|
|
Brevi |
Antonio Giuseppe
|
|
|
|
Born in Milano |
(MI) |
on 24/10/1951 |
- Fiscal Code : BRVNNG51R24F205S |
|
|
|
Residence : |
Via |
Kennedy |
, 27 |
- 24064 |
Grumello del Monte |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
23/07/2002 |
|
|
|
|
No Protests
registered |
|
|
Tironi |
Gianfranco |
|
|
|
Born in San Martino De' Calvi |
(BG) |
on 06/11/1929 |
- Fiscal Code : TRNGFR29S06I006W |
|
|
|
Residence : |
Via |
Bianzana |
, 8 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/09/2010 |
|
|
|
|
No Protests
registered |
|
|
Meratti |
Giovanna |
|
|
|
Born in Zurigo |
on 11/09/1970 |
- Fiscal Code : MRTGNN70P51Z133S |
|
|
|
Residence : |
Localita' |
Mazzucchelle |
, SN |
- 24060 |
Torre De' Roveri |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/09/2010 |
|
|
|
Board Chairman |
28/09/2010 |
|
|
|
|
No Protests
registered |
|
|
Mussita |
Francesco |
|
|
|
Born in Bergamo |
(BG) |
on 02/08/1964 |
- Fiscal Code : MSSFNC64M02A794W |
|
|
|
Residence : |
Via |
G. Battista Marchesi |
, 19 |
- 24060 |
Torre De' Roveri |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/09/2010 |
|
|
|
General Director |
30/04/2002 |
|
|
|
|
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.
|
|
BREVI |
ANTONIO GIUSEPPE
|
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
SA.BRE.FIL S.R.L. |
Grumello del Monte (BG) - IT - |
01858540162 |
Sole Director |
Active |
Registered |
|
|
MERATTI |
GIOVANNA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
AGEFIL S.R.L. |
Clusone (BG) - IT - |
02015750165 |
Director |
Active |
Registered |
|
AGEFIL S.R.L. |
Clusone (BG) - IT - |
02015750165 |
Board Chairman |
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 |
|
Sa.bre.fil S.r.l. |
Grumello del Monte - IT - |
01858540162 |
525.000 .Eur |
5,00 |
|
Agefil S.r.l. |
Clusone - IT - |
02015750165 |
6.483.750 .Eur |
61,75 |
|
Ambra S.r.l. |
Clusone - IT - |
02015760164 |
3.491.250 .Eur |
33,25 |
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 |
|
Smyth*europea Industrie Spa |
Torino - IT - |
00879840064 |
95.959 .Eur |
96,20 |
|
|
Active |
|
BONELLI INDUSTRIE S.R.L. |
Torino - IT - |
05684600017 |
929.105 .Eur |
|
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Registered
office |
|
|
|
|
|
Via |
B. Maffeis Presso Studio Aspesi |
, 4 |
- 24025 |
- Gazzaniga |
(BG) |
- IT - |
|
- |
Operative seat |
since 13/04/1987 |
|
|
|
|
|
Via |
Casale |
, 16 |
- 24060 |
- Torre De' Roveri |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035/585111 |
|
- |
Branch |
(Factory ) |
since 02/01/1996 |
|
|
|
|
|
Via |
Montale |
, 6/8 |
- 24066 |
- Pedrengo |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035/585111 |
|
- |
Branch |
(Factory ) |
since 01/04/1997 |
|
|
|
|
|
Via |
Volta 1 Angolo Via Casale |
, 25 |
- 24060 |
- Torre De' Roveri |
(BG) |
- IT - |
|
|
|
|
Employees |
: 159 |
|
Fittings and Equipment for a value of
920.000 |
Eur |
|
Stocks for a value of 9.290.000 |
Eur |
|
Work in progress for a value of 110.000 |
Eur |
|
|
The firm operates abroad as importer /
exporter. .
To purchase foreign products the firm uses
the following channels :
|
- its own foreign branches |
|
- direct orders to foreign companies |
Export represents more than 50% of the
global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
|
- its own foreign branches |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
03/04/1990 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Maffi |
Mina |
|
|
|
Born in Gandosso |
on 11/03/1950 |
- Fiscal Code : MFFMNI50C51D906I |
|
|
|
Residence : |
Piazzetta |
Verzeri |
, 3 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Arsuffi |
Giantito |
|
|
Born in Pontida |
on 25/09/1929 |
- Fiscal Code : RSFGTT29P25G864U |
|
|
|
Residence : |
Via |
Mazzini |
, 46B |
- 24034 |
Cisano Bergamasco |
(BG) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Rossi |
Paolo |
|
|
|
Born in SERIATE |
on 02/08/1963 |
- Fiscal Code : RSSPLA63M02I628M |
|
|
|
Residence : |
Via |
MAZZINI |
, 24 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Meratti |
Gianattilio |
|
|
|
Born in Bergamo |
on 27/07/1928 |
- Fiscal Code : MRTGTT28L27A794D |
|
Ex-Postions |
|
Managing Director |
|
Legal Owners' representative |
|
Board Chairman |
|
|
Brevi |
Antonio Giuseppe
|
|
|
|
Born in Milano |
on 24/10/1951 |
- Fiscal Code : BRVNNG51R24F205S |
|
|
Residence : |
Via |
Kennedy |
, 27 |
- 24064 |
Grumello del Monte |
(BG) |
- IT - |
|
Ex-Postions |
|
Director |
|
Procurator |
|
|
Tironi |
Gianfranco |
|
|
|
Born in San Martino De' Calvi |
on 06/11/1929 |
- Fiscal Code : TRNGFR29S06I006W |
|
|
|
Residence : |
Via |
Bianzana |
, 8 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Managing Director |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm
absorved |
|
|
|
|
|
|
|
, GAZZANIGA |
- IT - |
|
|
|
Date |
: |
31/03/1990 |
|
|
The firm
absorved |
|
|
|
|
|
|
|
, GAZZANIGA |
- IT - |
|
|
|
Date |
: |
31/03/1990 |
|
|
The firm
absorbed by merging of |
|
|
|
|
|
|
|
, GAZZANIGA |
- IT - |
|
|
|
Date |
: |
31/03/1990 |
|
|
The firm
absorbed by merging of |
|
|
|
|
|
|
|
Via |
dei Mille |
, 23/B |
, 24047 |
, Treviglio (BG) |
- IT - |
|
|
|
Fiscal Code: 00989860168 |
|
|
|
Date |
: |
30/04/1990 |
|
|
The firm
absorved |
|
|
|
|
|
|
|
Via |
dei Mille |
, 23/B |
, 24047 |
, Treviglio (BG) |
- IT - |
|
|
|
Fiscal Code: 00989860168 |
|
|
|
Date |
: |
30/04/1990 |
|
|
The firm
absorbed by merging of |
|
|
|
|
|
|
|
Via |
B. MAFFEIS |
, 4 |
, 24025 |
, Gazzaniga |
(BG) |
- IT - |
|
|
|
Fiscal Code: 01861840161 |
|
|
|
Date |
: |
18/12/2001 |
Protests
Protests checking on the subject firm has
given a negative result.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
Company's starting of activities dates back
to 1987.
The eonomic-financial analysis is based on
the latest 3 b/s.
Under an economic point of view, profits
were registered during the last years with a r.o.e. of 2,23% in 2009
The operating result was positive in the
last financial year (2,69%) falling within the field's average.
The amount of the operating result is equal
to Eur. 1.585.831 showing a downwards trend equal to -69,89% if compared to the
value of the financial year 2008.
The G.O.M. amounted to Eur. 2.572.697 , with
a -57,56% decrease.
Indebtedness is scanty since debts are lower
than liquidity.
It's shareholders funds amount to Eur.
47.737.701 on stable levels.
The financial management has recorded total
debts amounting to Eur. 5.680.869, with no important change.
Bank exsposure is limited and the suppliers'
credit is modest too, 80,69 gg. is the payment average period which is also
lower than the sector average.
Payments are supported by good current
assets.
On average trade credits are collected in
80,33 days. , shorter than the sector's average.
The financial management generated a cash
flow of Eur. 2.051.685.
During 2009 financial year labour costs
amounted to Eur. 7.971.885, with a 38,66% incidence on production costs. ,
whereas the incidence on sales revenues is of 35,32%.
The financial management is positive as
incomes are higher than the charges.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
22.572.890 |
|
Profit (Loss) for the period |
1.066.616 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
34.625.856 |
|
Profit (Loss) for the period |
3.953.529 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
37.731.105 |
|
Profit (Loss) for the period |
5.539.455 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
31.607.572 |
|
Profit (Loss) for the period |
4.971.009 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
30.811.498 |
|
Profit (Loss) for the period |
4.359.079 |
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 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2007 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
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|
|
RATIOS |
Value
Type |
as at 31/12/2009 |
as at 31/12/2008 |
as at 31/12/2007 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,25 |
0,25 |
0,14 |
0,14 |
|
Elasticity Ratio |
Units |
0,75 |
0,74 |
0,85 |
0,83 |
|
Availability of stock |
Units |
0,16 |
0,18 |
0,16 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,56 |
0,68 |
0,55 |
|
Quick Ratio |
Units |
0,46 |
0,38 |
0,50 |
0,04 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
n.c. |
3,07 |
|
Self Financing Ratio |
Units |
0,81 |
0,79 |
0,74 |
0,19 |
|
Capital protection Ratio |
Units |
0,76 |
0,70 |
0,58 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,43 |
0,43 |
0,38 |
0,18 |
|
Financing |
Units |
0,12 |
0,13 |
0,18 |
3,74 |
|
Permanent Indebtedness Ratio |
Units |
0,85 |
0,83 |
0,79 |
0,35 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,04 |
0,05 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,68 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
3,41 |
3,28 |
5,54 |
2,15 |
|
Current ratio |
Units |
7,79 |
7,43 |
6,12 |
1,26 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
6,15 |
5,61 |
4,91 |
0,91 |
|
Structure's primary quotient |
Units |
3,25 |
3,11 |
5,16 |
1,24 |
|
Treasury's primary quotient |
Units |
4,80 |
3,81 |
3,64 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
123,60 |
126,59 |
134,65 |
522,89 |
|
Current Capital ( net ) |
Value |
38.568.512 |
38.902.391 |
37.339.793 |
420.263 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
9,09 |
13,69 |
17,91 |
3,40 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
2,23 |
8,28 |
14,26 |
6,99 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
3,23 |
13,34 |
24,95 |
23,56 |
|
Return on Investment ( R.O.I. ) |
% |
2,69 |
8,72 |
16,70 |
5,48 |
|
Return/ Sales |
% |
7,03 |
15,21 |
23,14 |
4,86 |
|
Extra Management revenues/charges incid. |
% |
67,26 |
75,05 |
63,42 |
25,43 |
|
Cash Flow |
Value |
2.051.685 |
4.741.233 |
6.758.182 |
100.067 |
|
Operating Profit |
Value |
1.585.831 |
5.267.592 |
8.733.992 |
129.376 |
|
Gross Operating Margin |
Value |
2.572.697 |
6.062.977 |
9.958.685 |
197.492 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
80,33 |
81,49 |
75,13 |
128,44 |
|
Debts to suppliers average term |
Days |
80,69 |
62,12 |
82,40 |
151,43 |
|
Average stock waiting period |
Days |
148,17 |
114,23 |
84,34 |
65,66 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,38 |
0,57 |
0,72 |
1,19 |
|
Rate of stock return |
Units |
2,43 |
3,15 |
4,26 |
5,43 |
|
Labour cost incidence |
% |
35,32 |
25,89 |
23,24 |
18,22 |
|
Net financial revenues/ charges incidence |
% |
1,17 |
3,14 |
2,60 |
- 1,10 |
|
Labour cost on purchasing expenses |
% |
38,66 |
27,90 |
30,56 |
18,70 |
|
Short-term financing charges |
% |
0,39 |
1,72 |
1,30 |
2,51 |
|
Capital on hand |
% |
261,39 |
174,47 |
138,60 |
83,78 |
|
Sales pro employee |
Value |
145.631 |
212.428 |
228.673 |
213.359 |
|
Labour cost pro employee |
Value |
51.431 |
55.003 |
53.155 |
35.786 |
Credit Opinion
On the basis of the above mentioned, and the
sales volume obtained, we deem that the maximum exposure for short and medium
term transactions ( 90 - 120 days ) could be of:
70.000Eur.
Market / Territory Data
|
Population living in the province |
: |
1.022.428 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses average in the
region (in Eur.) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 1.206
significant companies.
The companies cash their credits on an
average of 128 dd.
The average duration of suppliers debts is
about 151 dd.
The sector's profitability is on an average
of 3,40%.
The labour cost affects the turnover in the
measure of 18,22%.
Goods are held in stock in a range of 65 dd.
The difference between the sales volume and
the resources used to realize it is about 1,19.
The employees costs represent the 18,70% of
the production costs.
Statistical Detrimental Data
The area is statistically considered lowly
risky.
In the region 50.886 protested subjects are
found; in the province they count to 4.150.
The insolvency index for the region is 0,55,
, while for the province it is 0,41.
Total Bankrupt companies in the province :
4.376.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
UK Pound |
1 |
Rs.74.14 |
|
Euro |
1 |
Rs.65.78 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.