MIRA INFORM
REPORT
|
Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
EUROMATIC S.R.L.
|
|
|
|
|
Registered Office : |
Via Ugo La
Malfa 4, 24047 – Treviglio (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
25.07.1983 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
General Mechanics |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
300.000 – Eur |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment
Behaviour : |
No complaints |
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|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
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 and address
Euromatic S.r.l.
Via Ugo La Malfa, 4
24047 - Treviglio (BG) -IT-
Summary
|
Fiscal Code |
: |
01471250165 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
25/07/1983 |
|
Equity |
: |
Over 2.582.254 Eur |
|
|
: |
9.000.000/10.000.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
Credit Analysis
|
Credit Opinion |
: |
300.000 - Eur |
Activity
General mechanics
Legal Data
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 01471250165 |
|
Foreign Trade Reg. no. : BG019977 since 29/01/1992 |
|
Foreign Trade Reg. no. : 19977 of |
|
Chamber of Commerce no. : 208983 of |
|
V.A.T. Code : 01471250165 |
|
Establishment date |
: 25/07/1983 |
|
|
Start of Activities |
: 25/07/1983 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 110.000 |
Eur |
|
Subscribed Capital |
: 110.000 |
Eur |
|
Paid up Capital |
: 110.000 |
Eur |
Members
|
Gusmini |
Francesco |
|
|
|
Born in Calvenzano |
(BG) |
on 20/10/1948 |
- Fiscal Code : GSMFNC48R20B442V |
|
|
|
Residence : |
Via |
Padova |
, 9 |
- 24040 |
Calvenzano |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
24/04/2007 |
|
|
|
Sole partner |
|
|
|
|
|
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.
|
GUSMINI |
FRANCESCO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
O.E.M. S.R.L. |
Torre Boldone (BG) - IT - |
01877350163 |
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 |
|
Gusmini Francesco |
Calvenzano - IT - |
GSMFNC48R20B442V |
|
100,00 |
Direct Participations
The Company under review has no participations in other Companies.
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
Via |
Ugo La Malfa |
, 4 |
- 24047 |
- Treviglio |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 0363/303200 |
|
|
|
|
Employees |
: 32 |
|
Fittings and Equipment for a value of 190.000 |
Eur |
|
Stocks for a value of 680.000 |
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 more than 50% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Cipro |
|
- |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Gusmini |
Francesco |
|
|
|
Born in Calvenzano |
on 20/10/1948 |
- Fiscal Code : GSMFNC48R20B442V |
|
|
|
Residence : |
Via |
Padova |
, 9 |
- 24040 |
Calvenzano |
(BG) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Vaporesi |
Donino |
|
|
|
Born in Fornovo San Giovanni |
on 20/12/1937 |
- Fiscal Code : VPRDNN37T20D727J |
|
|
Residence : |
Via |
Madreperla |
, 3 |
- 24047 |
Treviglio |
(BG) |
- IT - |
|
Ex-Postions |
|
Director |
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.
Immovables *
*Subject to survey.
|
Immovable Type |
Value |
|
Real estates |
1.620.694 - Eur |
NB.: For Capital Companies the value of the Immovables is the one
reported in the latest available financial documents.
Financial and Economical Analysis
Company's starting of activities dates back to 1983.
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
During the last years, it achieved profits (r.o.e. 45,01% on 2009) but
without a significant increase in the turnover.
The operating result in 2009 was positive (40,94%) and is higher than
the sector's average.
An operating result of Eur. 3.087.612 has been registered. with an
increase of more then 100% if the compared to the previous financial year.
The gross operating margin of the latest financial year is of Eur.
3.263.775 with a more then 100% increase as opposed to the preceding year.
Indebtedness is scanty since debts are lower than liquidity.
Subject can manage an equity capital funds for an amount of Eur.
4.644.107 , rising by 52,06%.
The financial management has recorded total debts amounting to Eur.
2.218.124, as opposed to Eur. 3.199.999 in 2008, with a decrease equal to
-30,68%.
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited below the sector's average.
Payments are supported by good current assets.
Accounts receivable average term is 33,77 days. , a value lower than the
sector's average.
The financial management generated a cash flow of Eur. 2.266.329.
During 2009 financial year labour costs amounted to Eur. 1.676.379, with
a 25,06% incidence on production costs. , with a 16,92% incidence on turnover.
The financial charges do not negatively affect the management, as they
are covered by the incomes.
Financial Data
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
9.910.150 |
|
Profit (Loss) for the period |
2.090.166 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
10.264.285 |
|
Profit (Loss) for the period |
863.919 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.392.018 |
|
Profit (Loss) for the period |
1.438.503 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.143.094 |
|
Profit (Loss) for the period |
1.226.376 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
6.677.143 |
|
Profit (Loss) for the period |
515.361 |
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 |
0,27 |
0,29 |
0,03 |
0,20 |
|
Elasticity Ratio |
Units |
0,72 |
0,70 |
0,95 |
0,77 |
|
Availability of stock |
Units |
0,09 |
0,14 |
0,11 |
0,13 |
|
Total Liquidity Ratio |
Units |
0,63 |
0,56 |
0,84 |
0,57 |
|
Quick Ratio |
Units |
0,44 |
0,10 |
0,53 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
0,82 |
0,19 |
3,29 |
|
Self Financing Ratio |
Units |
0,62 |
0,45 |
0,33 |
0,17 |
|
Capital protection Ratio |
Units |
0,53 |
0,68 |
0,37 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,21 |
0,12 |
0,08 |
0,21 |
|
Financing |
Units |
0,48 |
1,05 |
1,79 |
4,10 |
|
Permanent Indebtedness Ratio |
Units |
0,68 |
0,50 |
0,38 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,06 |
0,05 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,65 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,48 |
1,76 |
12,52 |
1,66 |
|
Current ratio |
Units |
2,45 |
1,50 |
1,60 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,14 |
1,19 |
1,41 |
0,95 |
|
Structure's primary quotient |
Units |
2,26 |
1,56 |
10,84 |
0,92 |
|
Treasury's primary quotient |
Units |
1,50 |
0,22 |
0,89 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
162,41 |
223,87 |
300,66 |
568,36 |
|
Current Capital ( net ) |
Value |
3.217.557 |
1.607.742 |
2.667.165 |
256.513 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
22,87 |
9,42 |
17,96 |
4,94 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
45,01 |
28,29 |
58,35 |
12,23 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
66,67 |
43,96 |
96,96 |
35,18 |
|
Return on Investment ( R.O.I. ) |
% |
40,94 |
18,66 |
30,47 |
7,09 |
|
Return/ Sales |
% |
31,16 |
12,43 |
26,92 |
6,07 |
|
Extra Management revenues/charges incid. |
% |
67,70 |
67,73 |
63,67 |
31,25 |
|
Cash Flow |
Value |
2.266.329 |
966.630 |
1.507.375 |
133.318 |
|
Operating Profit |
Value |
3.087.612 |
1.275.624 |
2.259.197 |
163.021 |
|
Gross Operating Margin |
Value |
3.263.775 |
1.378.335 |
2.328.069 |
254.028 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
33,77 |
74,74 |
83,84 |
133,10 |
|
Debts to suppliers average term |
Days |
72,30 |
73,42 |
124,48 |
170,46 |
|
Average stock waiting period |
Days |
24,71 |
34,56 |
36,46 |
39,34 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,31 |
1,50 |
1,13 |
1,23 |
|
Rate of stock return |
Units |
14,57 |
10,42 |
9,86 |
9,08 |
|
Labour cost incidence |
% |
16,92 |
14,57 |
14,08 |
21,78 |
|
Net financial revenues/ charges incidence |
% |
0,09 |
0,65 |
1,47 |
- 1,11 |
|
Labour cost on purchasing expenses |
% |
25,06 |
16,17 |
18,91 |
22,97 |
|
Short-term financing charges |
% |
0,49 |
0,22 |
0,23 |
2,41 |
|
Capital on hand |
% |
76,11 |
66,61 |
88,32 |
80,78 |
|
Sales pro employee |
Value |
309.692 |
353.940 |
322.769 |
167.949 |
|
Labour cost pro employee |
Value |
52.386 |
51.584 |
45.459 |
35.009 |
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:
300.000Eur.
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 3.083 significant companies.
The companies cash their credits on an average of 133 dd.
The average duration of suppliers debts is about 170 dd.
The sector's profitability is on an average of 4,94%.
The labour cost affects the turnover in the measure of 21,78%.
Goods are held in stock in a range of 39 dd.
The difference between the sales volume and the resources used to
realize it is about 1,23.
The employees costs represent the 22,97% 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.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
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 Company |
---- |
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.