MIRA INFORM REPORT
|
Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
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Name : |
OLIMPIA 80 S.R.L. |
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|
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Registered Office : |
Via Roma, 87, 27020 - Borgo
San Siro(PV) |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
08.02.1980 |
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Com. Reg. No.: |
PV177-5142 since 19/02/1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer of tubes, pipes, hollow profiles and related fittings
insteel |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
250.000 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Olimpia 80 S.r.l.
Via Roma, 87
27020 - Borgo San Siro (PV) -IT-
Summary
|
Fiscal Code |
: |
00707500336 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/04/1980 |
|
Equity |
: |
Over 2.582.254 Eur |
|
|
: |
10.000.000/12.750.000 Eur |
|
Number of Employees |
: |
from 36 to 50 |
Credit Analysis
|
Credit Opinion |
: |
250.000 - Eur |
Highlights
|
OLIMPIA 80 Srl has been successfully operating in the planning and |
|
implementation of plants and equipment for the production of high
quality |
|
tubes. |
Activity
Manufacture of tubes, pipes, hollow profiles and related fittings
insteel (except those in refined steel)
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 00707500336 |
|
Foreign Trade Reg. no. : PV009684 since 27/05/1992 |
|
Chamber of Commerce no. : 113662 of |
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Chamber of Commerce no. : 168677 of |
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Firms' Register : PV177-5142 since 19/02/1996 |
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V.A.T. Code : 01153000185 |
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Foundation date |
: 08/02/1980 |
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Establishment date |
: 08/02/1980 |
|
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Start of Activities |
: 15/04/1980 |
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|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 5.000.000 |
Eur |
|
Subscribed Capital |
: 5.000.000 |
Eur |
|
Paid up Capital |
: 5.000.000 |
Eur |
Members
|
|
Travini |
Vittorio |
|
|
|
Born in Nibbiano |
(PC) |
on 02/03/1950 |
- Fiscal Code : TRVVTR50C02F885F |
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|
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Residence : |
Via |
Roma |
, 89 |
- 27020 |
Borgo San Siro |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
|
|
|
|
|
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.
|
TRAVINI |
VITTORIO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
GELSA S.R.L. |
Borgo San Siro (PV) - IT - |
01556150181 |
Procurator |
Active |
Registered |
|
THEMA INOX S.R.L. |
Borgo San Siro (PV) - IT - |
01905550180 |
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 |
|
Travini Vittorio |
Borgo San Siro - IT - |
TRVVTR50C02F885F |
3.500.000 .Eur |
70,00 |
|
Travini Livio |
|
TRVLVI77S14L872C |
750.000 .Eur |
15,00 |
|
Travini Silvia |
|
TRVSLV74T51L872K |
750.000 .Eur |
15,00 |
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 |
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|
|
|
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Via |
Roma |
, 87 |
- 27020 |
- Borgo San Siro |
(PV) |
- IT - |
|
- |
Branch |
(Factory ) |
since 01/08/1985 |
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|
|
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|
Localita' |
Ca' Verde |
- 29011 |
- Borgonovo Val Tidone |
(PC) |
- IT - |
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PHONE |
: 0523/862880 |
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PHONE |
: 0523/862614 |
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Email |
: olimpia@olimpia80.com |
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|
|
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Employees |
: 47 |
|
Fittings and Equipment for a value of 3.100.000 |
Eur |
|
Stocks for a value of 7.800.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
Travini |
Mauro |
|
|
|
Born in |
on 22/05/1964 |
- Fiscal Code : TRVMRA64E22G388G |
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|
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Residence : |
Via |
Archimede |
, 8 |
- 27026 |
Garlasco |
(PV) |
- IT - |
|
Ex-Postions |
|
Sole 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 |
2.976.430 - Eur |
NB.: For Capital Companies the value of the Immovables is the one
reported in the latest available financial documents.
Financial and Economical Analysis
The company is active since 1980
An eco-fin analysis has been made on the base od the b/s fo the years
2007, 2008 and 2009.
During the last years, it recorded positive net results (r.o.e. 1,51% in
2009)
The operating result in 2009 was positive (4,05%) and reflects the
field's average.
The operating result is positive and amounts to Eur. 887.240 , on more
or less the same values as in the year before.
During the latest financial year the gross operating margin amounted to
Eur. 2.170.015 on the same levels as the previous financial year.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,14) even though on the increase if compared to 2008.
Subject can manage an equity capital funds for an amount of Eur.
6.384.280 on the same levels as the year before.
In the year 2009 total debts amounted to Eur. 14.929.992 showing a
stable trend as opposed to 2008 (Eur. 14.191.960).
Both financial indebtedness and suppliers exposure are rather high
however still within the sector's average.
It shows a not very good liquidity level.
Credits are collected in 71,7 days on the average. , a better value than
the sector's average.
The financial management generated a cash flow of Eur. 1.379.075.
Labour cost amounts to Eur. 1.831.556, with a 13,81% incidence on
production costs. , whereas the incidence of such costs on sales revenues is
equal to 14,38%.
Financial charges are high: the incidence on sales volume amounts to
-4,48%
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
12.739.166 |
|
Profit (Loss) for the period |
96.300 |
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|
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Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
14.011.503 |
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Profit (Loss) for the period |
144.991 |
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Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
12.313.684 |
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Profit (Loss) for the period |
196.949 |
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|
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Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
6.516.974 |
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Profit (Loss) for the period |
56.351 |
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
6.140.620 |
|
Profit (Loss) for the period |
61.711 |
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 |
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- Balance Sheet as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x
1 |
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- 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 |
0,41 |
0,41 |
0,20 |
0,20 |
|
Elasticity Ratio |
Units |
0,59 |
0,58 |
0,77 |
0,77 |
|
Availability of stock |
Units |
0,36 |
0,30 |
0,36 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,24 |
0,28 |
0,41 |
0,51 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,02 |
0,02 |
|
COMPOSITION ON
SOURCE |
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|
|
|
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Net Short-term indebtedness |
Units |
2,14 |
2,06 |
2,90 |
2,78 |
|
Self Financing Ratio |
Units |
0,29 |
0,30 |
0,22 |
0,21 |
|
Capital protection Ratio |
Units |
0,97 |
0,96 |
0,92 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,10 |
0,09 |
0,11 |
0,14 |
|
Financing |
Units |
2,34 |
2,21 |
3,29 |
3,33 |
|
Permanent Indebtedness Ratio |
Units |
0,36 |
0,36 |
0,30 |
0,39 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,05 |
0,07 |
0,08 |
|
Net Financial Indebtedness Ratio |
Units |
1,05 |
1,18 |
n.c. |
0,98 |
|
CORRELATION |
|
|
|
|
|
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Fixed assets ratio |
Units |
0,87 |
0,87 |
1,47 |
1,82 |
|
Current ratio |
Units |
0,94 |
0,92 |
1,13 |
1,26 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,38 |
0,45 |
0,60 |
0,87 |
|
Structure's primary quotient |
Units |
0,72 |
0,74 |
1,09 |
1,20 |
|
Treasury's primary quotient |
Units |
0,01 |
0,00 |
0,03 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
343,29 |
328,17 |
439,51 |
463,58 |
|
Current Capital ( net ) |
Value |
-837.001 |
-1.019.680 |
1.597.800 |
977.479 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
10,83 |
7,65 |
6,55 |
4,84 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,51 |
2,25 |
4,91 |
11,81 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
4,83 |
5,31 |
11,97 |
29,23 |
|
Return on Investment ( R.O.I. ) |
% |
4,05 |
4,58 |
4,99 |
7,15 |
|
Return/ Sales |
% |
6,96 |
6,89 |
7,14 |
6,14 |
|
Extra Management revenues/charges incid. |
% |
10,85 |
15,01 |
22,39 |
38,40 |
|
Cash Flow |
Value |
1.379.075 |
1.072.133 |
806.557 |
434.376 |
|
Operating Profit |
Value |
887.240 |
966.020 |
879.594 |
540.947 |
|
Gross Operating Margin |
Value |
2.170.015 |
1.893.162 |
1.489.202 |
796.310 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
71,70 |
80,73 |
199,62 |
119,28 |
|
Debts to suppliers average term |
Days |
137,06 |
78,18 |
310,00 |
130,76 |
|
Average stock waiting period |
Days |
220,50 |
162,33 |
187,02 |
62,92 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,58 |
0,66 |
0,69 |
1,21 |
|
Rate of stock return |
Units |
1,63 |
2,22 |
1,92 |
5,71 |
|
Labour cost incidence |
% |
14,38 |
10,83 |
11,69 |
12,07 |
|
Net financial revenues/ charges incidence |
% |
- 4,48 |
- 4,46 |
- 3,24 |
- 1,29 |
|
Labour cost on purchasing expenses |
% |
13,81 |
11,48 |
11,26 |
12,51 |
|
Short-term financing charges |
% |
4,20 |
4,41 |
3,56 |
2,65 |
|
Capital on hand |
% |
172,04 |
150,67 |
142,93 |
82,16 |
|
Sales pro employee |
Value |
276.938 |
325.848 |
332.802 |
309.089 |
|
Labour cost pro employee |
Value |
39.816 |
35.289 |
38.929 |
36.091 |
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:
250.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
510.505 |
|
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 185 significant companies.
The companies cash their credits on an average of 119 dd.
The average duration of suppliers debts is about 130 dd.
The sector's profitability is on an average of 4,84%.
The labour cost affects the turnover in the measure of 12,07%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and the resources used to
realize it is about 1,21.
The employees costs represent the 12,51% of the production costs.
Statistical Detrimental Data
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they
count to 2.343.
The insolvency index for the region is 0,55, , while for the province it
is 0,46.
Total Bankrupt companies in the province : 986.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.61.43 |
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 |
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.