MIRA
INFORM REPORT
|
Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
OFFICINE MECCANICHE VILLA E BONALDI S.P. A. |
|
|
|
|
Registered Office : |
Via Soncino,19 26010- Ricengo (CR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
05.01.1939 |
|
|
|
|
Com. Reg. No.: |
CR035-287 since 19/02/1996 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of metal structures and structure parts |
|
|
|
|
No. of Employees : |
From 91 to 110 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
70.000 - Eur |
|
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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 and address
Officine Meccaniche Villa E Bonaldi S.p. A.
Via Soncino,19
26010- Ricengo(CR)-IT-
Summary
|
Fiscal Code |
: |
00103710190 |
|
Legal Form |
: |
Joint stock company |
|
Foundation Date |
: |
05/01/1939 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
20.000.000/25.000.000 Eur |
|
Number of Employees |
: |
from 91 to 110 |
Credit Analysis
|
Credit Opinion |
: |
70.000 - Eur |
Activity
Manufacture of metal structures and structure parts
Manufacture of metal tanks, reservoirs, radiators and containers
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 00103710190 |
|
Foreign Trade Reg. no. : CR002623 since 19/12/1991 |
|
Chamber of Commerce no. : 42875 of Cremona since 19/10/1945 |
|
Firms' Register : CR035-287 since 19/02/1996 |
|
V.A.T. Code : 00103710190 |
|
Foundation date |
: 05/01/1939 |
|
|
Establishment date |
: 05/01/1939 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 120.000 |
Eur |
|
Subscribed Capital |
: 120.000 |
Eur |
|
Paid up Capital |
: 120.000 |
Eur |
Members
|
|
Villa |
Cristiano |
|
|
|
Born in Crema |
(CR) |
on 04/05/1972 |
- Fiscal Code : VLLCST72E04D142D |
|
|
|
Residence : |
Via |
Partigiani |
, 3 |
- 26010 |
Ripalta Cremasca |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
21/05/2010 |
|
|
|
Managing Director |
21/05/2010 |
|
|
|
|
No Protests registered |
|
|
Villa |
Luciano Carlo |
|
|
|
Born in Crema |
(CR) |
on 04/11/1969 |
- Fiscal Code : VLLLNC69S04D142L |
|
|
|
Residence : |
Via |
Iv Novembre |
, 38/D |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
21/05/2010 |
|
|
|
Managing Director |
21/05/2010 |
|
|
|
|
No Protests registered |
|
|
Bruschieri |
Piera |
|
|
|
Born in Crema |
(CR) |
on 24/09/1942 |
- Fiscal Code : BRSPRI42P64D142X |
|
|
|
Residence : |
Via |
Iv Novembre |
, 38/D |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
21/05/2010 |
|
|
|
|
No Protests registered |
|
|
Dellera |
Antonio |
|
|
|
Born in Ricengo |
(CR) |
on 11/04/1959 |
- Fiscal Code : DLLNTN59D11H276W |
|
|
|
Residence : |
Via |
Papa Giovanni Xxxiii |
, 17 |
- 26010 |
Ricengo |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
25/09/2008 |
|
|
|
|
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.
|
|
VILLA |
CRISTIANO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
SOCIETA' DI INTERVENTO FINANZIARIO E INDUSTRIALE CREMONESE - S.I.
F.I.C. S.P.A. |
Cremona (CR) - IT - |
01219770193 |
Director |
Active |
Registered |
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Villa Cristiano |
Ripalta Cremasca - IT - |
VLLCST72E04D142D |
60.000 .Eur |
50,00 |
|
Villa Luciano |
|
|
.Eur |
50,00 |
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 |
|
FINVILLA SRL |
Ricengo - IT - |
01328330194 |
12.000 .Eur |
100,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 29/11/1982 |
|
|
|
|
|
Via |
Soncino |
, 19 |
- 26010 |
- Ricengo |
(CR) |
- IT - |
|
|
|
|
PHONE |
: 0373/244424 |
|
|
|
|
FAX |
: 0373/244430 |
|
|
|
|
Website |
: www.villabonaldi.com |
|
|
|
|
Employees |
: 103 |
|
|
|
|
Assistants |
: 4 |
|
Fittings and Equipment for a value of 3.800.000 |
Eur |
|
Stocks for a value of 6.640.000 |
Eur |
|
Vehicles for a value of 100.000 |
Eur |
|
Work in progress for a value of 5.610.000 |
Eur |
|
|
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- Francia |
Export is mainly towards:
|
- Austria |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
20/11/1984 |
EX-MEMBERS / EX-POSITIONS:
|
|
Villa |
Enrico |
|
|
|
Born in Crema |
on 31/08/1939 |
- Fiscal Code : VLLNRC39M31D142T |
|
Ex-Postions |
|
Chairman |
|
Partner |
|
|
Villa |
Gino |
|
|
|
Born in Crema |
on 28/11/1941 |
- Fiscal Code : VLLGNI41S28D142K |
|
Ex-Postions |
|
Managing Director |
|
Partner |
|
Managing Director |
|
|
Potenza |
Giancarlo |
|
|
|
Born in Cremona |
on 09/05/1947 |
- Fiscal Code : PTNGCR47E09D150V |
|
|
|
Residence : |
Via |
Sacchi |
, 2 |
- 26100 |
Cremona |
(CR) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Villa |
Marco |
|
|
|
Born in Lodi |
on 30/12/1971 |
- Fiscal Code : VLLMRC71T30E648V |
|
|
|
Residence : |
Via |
Griffini |
, 44 |
- 26013 |
Crema |
(CR) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Cavaglieri |
Federica |
|
|
|
Born in Cremona |
on 11/11/1968 |
- Fiscal Code : CVGFRC68S51D150B |
|
|
|
Residence : |
Via |
Pedone Gaspare |
, 37 |
- 26100 |
Cremona |
(CR) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES
|
|
Project of merging by taking over of |
|
|
|
FINVILLA SRL |
|
|
|
, 26010 |
, Ricengo |
(CR) |
- IT - |
|
|
|
Fiscal Code: 01328330194 |
|
|
|
Date |
Merging/splitting-up project : |
16/05/2005 |
|
|
The firm absorbed by merging of |
|
|
|
FINVILLA SRL |
|
|
|
, 26010 |
, Ricengo |
(CR) |
- IT - |
|
|
|
Fiscal Code: 01328330194 |
|
|
|
Date |
: |
08/09/2005 |
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
Subject is active since 1939
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 8,37% in 2010
The return on Investment in the last financial year was positive (8,17%)
falling within the field's average.
The amount of the operating result is equal to Eur. 2.812.998 showing a
downwards trend equal to -65,09% if compared to the value of the financial year
2009.
The economic management produced a gross operating margin of Eur.
3.933.366 showing a drop (-61,18%).
Excellent equity structure since liquidity is higher than short term
liabilities.
With regard to equity capital, an amount of Eur. 19.073.462 is
registered. , unchanged as opposed to the preceding year.
During the last financial year debts totalled Eur. 12.506.251 (Eur.
4.454.187 of which were m/l term debts) as opposed to Eur. 16.029.645 in 2009,
with a decrease equal to -21,98%.
The company does not exceed in bank credits; payments average period is
instead slightly high (134,05 gg.) but lined up with the field's average.
Liquidity is good (2,6)
As to due from customers, the average terms are 77,39 days. , lower than
the sector's average.
Eur. 2.717.087 is the value of cash flow during the year 2010
Subordinate employment cost is of Eur. 4.911.105, i.e. 24,85% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 22,2%.
Financial incomes cover financial charges.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
22.126.018 |
|
Profit (Loss) for the period |
1.596.719 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
35.329.162 |
|
Profit (Loss) for the period |
4.935.140 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
37.418.338 |
|
Profit (Loss) for the period |
4.442.117 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
28.791.288 |
|
Profit (Loss) for the period |
1.524.489 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
33.977.504 |
|
Profit (Loss) for the period |
1.750.599 |
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 31/12/2010 - 12 Mesi - Currency: Eur - Amounts x
1 |
|
- 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 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2010 |
as at 31/12/2009 |
as at 31/12/2008 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,39 |
0,38 |
0,36 |
0,23 |
|
Elasticity Ratio |
Units |
0,61 |
0,62 |
0,64 |
0,73 |
|
Availability of stock |
Units |
0,19 |
0,17 |
0,29 |
0,18 |
|
Total Liquidity Ratio |
Units |
0,42 |
0,45 |
0,35 |
0,50 |
|
Quick Ratio |
Units |
0,27 |
0,31 |
0,21 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
0,84 |
2,39 |
|
Self Financing Ratio |
Units |
0,55 |
0,47 |
0,31 |
0,22 |
|
Capital protection Ratio |
Units |
0,91 |
0,71 |
0,64 |
0,72 |
|
Liabilities consolidation quotient |
Units |
0,69 |
0,68 |
0,43 |
0,23 |
|
Financing |
Units |
0,66 |
0,92 |
2,06 |
3,17 |
|
Permanent Indebtedness Ratio |
Units |
0,72 |
0,66 |
0,50 |
0,39 |
|
M/L term Debts Ratio |
Units |
0,16 |
0,19 |
0,20 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,30 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,83 |
1,73 |
1,41 |
1,56 |
|
Current ratio |
Units |
2,60 |
2,24 |
1,38 |
1,22 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,78 |
1,62 |
0,77 |
0,87 |
|
Structure's primary quotient |
Units |
1,41 |
1,24 |
0,85 |
0,86 |
|
Treasury's primary quotient |
Units |
1,15 |
1,11 |
0,44 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
180,53 |
212,09 |
325,85 |
448,01 |
|
Current Capital ( net ) |
Value |
12.885.758 |
12.719.202 |
7.257.845 |
486.040 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
12,28 |
17,01 |
15,25 |
3,43 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
8,37 |
28,24 |
35,42 |
3,96 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
15,51 |
46,09 |
55,11 |
11,84 |
|
Return on Investment ( R.O.I. ) |
% |
8,17 |
21,75 |
14,80 |
4,25 |
|
Return/ Sales |
% |
12,71 |
22,81 |
16,17 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
56,76 |
61,23 |
73,42 |
17,23 |
|
Cash Flow |
Value |
2.717.087 |
6.008.252 |
5.707.234 |
187.008 |
|
Operating Profit |
Value |
2.812.998 |
8.060.055 |
6.050.232 |
225.589 |
|
Gross Operating Margin |
Value |
3.933.366 |
10.133.167 |
7.465.349 |
370.750 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
77,39 |
45,34 |
51,11 |
119,80 |
|
Debts to suppliers average term |
Days |
134,05 |
95,69 |
81,03 |
120,31 |
|
Average stock waiting period |
Days |
108,01 |
64,42 |
112,56 |
63,58 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,64 |
0,95 |
0,92 |
1,04 |
|
Rate of stock return |
Units |
3,33 |
5,59 |
3,20 |
5,63 |
|
Labour cost incidence |
% |
22,20 |
15,05 |
14,58 |
16,99 |
|
Net financial revenues/ charges incidence |
% |
0,18 |
0,00 |
2,70 |
- 1,67 |
|
Labour cost on purchasing expenses |
% |
24,85 |
24,21 |
16,98 |
17,79 |
|
Short-term financing charges |
% |
n.c. |
0,35 |
n.c. |
3,19 |
|
Capital on hand |
% |
155,62 |
104,92 |
109,22 |
95,87 |
|
Sales pro employee |
Value |
208.736 |
315.438 |
349.704 |
200.446 |
|
Labour cost pro employee |
Value |
46.331 |
47.468 |
50.995 |
34.557 |
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:
70.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
346.168 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences 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 441 significant companies.
The companies cash their credits on an average of 119 dd.
The average duration of suppliers debts is about 120 dd.
The sector's profitability is on an average of 3,43%.
The labour cost affects the turnover in the measure of 16,99%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and the resources used to
realize it is about 1,04.
The employees costs represent the 17,79% 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 1.205.
The insolvency index for the region is 0,55, , while for the province it
is 0,35.
Total Bankrupt companies in the province : 505.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.72 |
|
|
1 |
Rs.82.70 |
|
Euro |
1 |
Rs.68.90 |
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 SCs 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.