MIRA INFORM REPORT
|
Report Date : |
22.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
NICHELCROM ACCIAI INOX S.P.A. |
|
|
|
|
Registered Office : |
Via Meli Giovanni, 36, 20100 – Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
25.07.1989 |
|
|
|
|
Com. Reg. No.: |
MI-1998-164858 since 23/07/1998 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of metalliferous
minerals, ferrous metals and semi-finished products |
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 : |
80.000 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 30th, 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 & address
Nichelcrom Acciai Inox S.p.a.
Via Meli Giovanni, 36
20100 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
12523540156 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
25/07/1989 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
75.000.000/100.000.000 Eur |
|
Number of Employees |
: |
from 51 to 70 |
Credit Analysis
|
Credit Opinion |
: |
80.000 - Eur |
Activity
Wholesale of metalliferous
minerals, ferrous metals and semi-finished products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 12523540156 |
|
Foreign Trade Reg. no. : MI284824 since
23/10/1998 |
|
Foreign Trade Reg. no. : 284824 of Milano
since 23/10/1998 |
|
Chamber of Commerce no. : 1563030 of
Milano since 22/07/1998 |
|
Firms' Register : MI-1998-164858 since
23/07/1998 |
|
V.A.T. Code : 12523540156 |
|
Establishment date |
: 30/06/1998 |
|
|
Start of Activities |
: 25/07/1989 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 34.025.040 |
Eur |
|
Subscribed Capital |
: 34.025.040 |
Eur |
|
Paid up Capital |
: 34.025.040 |
Eur |
Members
|
|
Niada |
Paolo |
|
|
|
Born in Milano |
(MI) |
on 06/06/1950 |
- Fiscal Code : NDIPLA50H06F205Z |
|
|
|
Residence : |
Via |
F.lli Cervi Res. La Spiga |
- 20090 |
Segrate |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2010 |
|
|
|
|
No Protests
registered |
|
|
Galasso |
Salvatore |
|
|
|
Born in Busto Arsizio |
(VA) |
on 19/09/1943 |
- Fiscal Code : GLSSVT43P19B300B |
|
|
|
Residence : |
Via |
Achille Grandi |
, 15 |
- 20045 |
Besana in Brianza |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2010 |
|
|
|
|
No Protests
registered |
|
|
Terruzzi |
Silvio |
|
|
|
Born in Milano |
(MI) |
on 05/08/1923 |
- Fiscal Code : TRRSLV23M05E099A |
|
|
|
Residence : |
Via |
Borgogna |
, 2 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2010 |
|
|
|
Board Chairman |
29/06/2010 |
|
|
|
|
No Protests
registered |
|
|
Bascetta |
Vanda |
|
|
|
Born in Siracusa |
(SR) |
on 16/08/1942 |
- Fiscal Code : BSCVND42M56I754Z |
|
|
|
Residence : |
Via |
Borgogna |
, 2 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2010 |
|
|
|
|
No Protests
registered |
|
|
Parma |
Alberto Luigi |
|
|
|
Born in Monza |
(MB) |
on 11/02/1963 |
- Fiscal Code : PRMLRT63B11F704W |
|
|
|
Residence : |
Via |
Michelangelo Buonarroti |
, 8 |
- 20053 |
Muggio' |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
|
29/06/2010 |
|
|
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.
|
|
TERRUZZI |
SILVIO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
CLO S.A.S. DI BASCETTA VANDA E C. |
Milano (MI) - IT - |
05966460155 |
Limited Partner |
Withdrawn |
Ceased |
|
IMMOBILIARE GRIFO - S.R.L. |
Milano (MI) - IT - |
02036520159 |
Sole Director |
Withdrawn |
Ceased |
|
MAIORA S.A.S DI BASCETTA VANDA E C. |
Milano (MI) - IT - |
09782880158 |
Limited Partner |
Withdrawn |
Ceased |
|
NICHELCROM FINANZIARIA IMMOBILIARE S.P.A.,
IN FORMA ABBREVIATA NICHELCROM FINIM |
Milano (MI) - IT - |
05942800151 |
Director |
Active |
Registered |
|
NICHELCROM FINANZIARIA IMMOBILIARE S.P.A.,
IN FORMA ABBREVIATA NICHELCROM FINIM |
Milano (MI) - IT - |
05942800151 |
Person in charge |
Active |
Registered |
|
NICHELCROM FINANZIARIA IMMOBILIARE S.P.A.,
IN FORMA ABBREVIATA NICHELCROM FINIM |
Milano (MI) - IT - |
05942800151 |
Board Chairman |
Active |
Registered |
|
NICHELCROM S.N.C. DI SILVIO TERRUZZI E C. |
Milano (MI) - IT - |
05986720158 |
Partner |
Active |
Registered |
|
VANNINI E CAPPERUCCI-S.P.A. |
Poggibonsi (SI) - IT - |
00047110523 |
Board Chairman |
Withdrawn |
Ceased |
|
WODSIA S.A.S. DI BASCETTA VANDA E C. |
Milano (MI) - IT - |
02037170152 |
Limited Partner |
Withdrawn |
Ceased |
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 |
|
Nichelcrom Finanziaria Immobiliare S.p.a
., In Forma Abbreviata Nichelcrom Fin |
Milano - IT - |
05942800151 |
27.220.032 .Eur |
80,00 |
|
Terruzzi Silvio |
Milano - IT - |
TRRSLV23M05E099A |
3.402.504 .Eur |
10,00 |
|
Bascetta Vanda |
Milano - IT - |
BSCVND42M56I754Z |
3.402.504 .Eur |
10,00 |
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 |
Meli Giovanni |
, 36 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/26227520 |
|
|
|
|
FAX |
: 02/24791500 |
|
- |
Secondary office |
|
|
|
|
|
|
Via |
Trento |
, 96 |
- 20099 |
- Sesto San Giovanni |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/2427651 |
|
- |
Branch |
(Warehouse ) |
since 10/03/1999 |
|
|
|
|
|
Via |
Rimembranze |
, 62 |
- 20099 |
- Sesto San Giovanni |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/26265402 |
|
|
|
|
Employees |
: 68 |
|
Fittings and Equipment for a value of
830.000 |
Eur |
|
Stocks for a value of 111.290.000 |
Eur |
Trade organization: direct or by
agents.
Sales area on a national scale.
|
|
Historical Information and/or Firm's Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Benatti |
Sergio |
|
|
|
Born in Milano |
on 30/06/1940 |
- Fiscal Code : BNTSRG40H30F205I |
|
|
|
Residence : |
Corso |
Di Porta Nuova |
, 34 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Pessina |
Giovanni Paolo |
|
|
|
Born in Muggio' |
on 19/07/1945 |
- Fiscal Code : PSSGNN45L19F797E |
|
|
|
Residence : |
Via |
Bertacchi |
, 1 |
- 20052 |
Monza |
(MB) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Bevilacqua |
Nicola |
|
|
|
Born in Trani |
on 05/01/1935 |
- Fiscal Code : BVLNCL35A05L328P |
|
|
|
Residence : |
Viale |
San Michele Del Carso |
, 12 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
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 1989.
The eonomic-financial analysis
is based on the latest 3 b/s.
During the last years, it
achieved profits (r.o.e. 5,84% on 2010) and during the last financial year an
increase in sales volume was registered (+66,8% in 2010).
The operating result in 2010 was
positive (6,32%) and in line with the sector's average.
The operating result is positive
and amounts to Eur. 8.784.594 increasing if compared to the yeart 2009.
The G.O.M. amounted to Eur.
9.060.667 with a more then 100% growth.
The company has an excellent net
worth if compared to its debts, with a low indebtedness (0,14) which is yet
rising if compared to 2009.
Subject can manage an equity
capital funds for an amount of Eur. 105.122.424 , stable in comparison with the
value of the previous year.
Total debts recorded amounted to
Eur. 31.634.868 (Eur. 10.000.000 of which were m/l term debts) , showing an
upward trend if compared to 2009.
Bank exsposure is limited and
the suppliers' credit is modest too, 18,95 gg. is the payment average period
below the sector's average.
The management determines a good
range of liquidity.
Credits are collected in 35,61
days on the average. , a better value than the sector's average.
2010 financial year closed with
a cash flow of Eur. 6.412.232
During 2010 financial year
labour costs amounted to Eur. 2.647.653, with a 3,18% incidence on production
costs. , whereas 2,89% is the incidence on sales revenues.
The financial charges do not
negatively affect the management, as they are covered by the incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
91.512.656 |
|
Profit (Loss) for the period |
6.136.848 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
54.861.268 |
|
Profit (Loss) for the period |
1.536.703 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
101.981.799 |
|
Profit (Loss) for the period |
8.464.023 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
134.197.965 |
|
Profit (Loss) for the period |
5.722.932 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
177.732.230 |
|
Profit (Loss) for the period |
15.225.612 |
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 |
0,01 |
0,01 |
0,01 |
0,11 |
|
Elasticity Ratio |
Units |
0,99 |
0,99 |
0,99 |
0,87 |
|
Availability of stock |
Units |
0,80 |
0,80 |
0,76 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,19 |
0,19 |
0,23 |
0,56 |
|
Quick Ratio |
Units |
0,11 |
0,10 |
0,13 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,14 |
0,06 |
0,14 |
3,81 |
|
Self Financing Ratio |
Units |
0,76 |
0,81 |
0,73 |
0,17 |
|
Capital protection Ratio |
Units |
0,62 |
0,64 |
0,56 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,50 |
1,05 |
0,45 |
0,12 |
|
Financing |
Units |
0,30 |
0,21 |
0,35 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,83 |
0,90 |
0,81 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,09 |
0,08 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,16 |
0,12 |
0,00 |
1,28 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
137,13 |
105,91 |
94,93 |
2,06 |
|
Current ratio |
Units |
6,36 |
11,64 |
5,47 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,22 |
2,26 |
1,27 |
0,84 |
|
Structure's primary quotient |
Units |
124,31 |
95,45 |
85,38 |
1,28 |
|
Treasury's primary quotient |
Units |
0,72 |
1,15 |
0,74 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
132,31 |
122,83 |
137,57 |
591,61 |
|
Current Capital ( net ) |
Value |
116.067.259 |
109.711.882 |
108.472.435 |
219.071 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
7,01 |
3,43 |
8,65 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
5,84 |
1,55 |
8,69 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
8,66 |
2,35 |
13,38 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
6,32 |
1,86 |
10,08 |
4,19 |
|
Return/ Sales |
% |
9,60 |
4,12 |
13,25 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
69,86 |
67,97 |
62,66 |
29,26 |
|
Cash Flow |
Value |
6.412.232 |
1.882.651 |
8.817.816 |
61.669 |
|
Operating Profit |
Value |
8.784.594 |
2.260.859 |
13.508.595 |
95.558 |
|
Gross Operating Margin |
Value |
9.060.667 |
2.607.343 |
13.874.977 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
35,61 |
48,44 |
30,15 |
120,94 |
|
Debts to suppliers average term |
Days |
18,95 |
18,63 |
90,12 |
120,04 |
|
Average stock waiting period |
Days |
437,80 |
634,96 |
359,82 |
61,92 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,66 |
0,45 |
0,76 |
1,27 |
|
Rate of stock return |
Units |
0,82 |
0,57 |
1,00 |
5,74 |
|
Labour cost incidence |
% |
2,89 |
4,48 |
2,46 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
0,35 |
0,01 |
- 0,58 |
- 1,26 |
|
Labour cost on purchasing expenses |
% |
3,18 |
4,46 |
2,75 |
7,90 |
|
Short-term financing charges |
% |
2,26 |
3,55 |
3,01 |
2,67 |
|
Capital on hand |
% |
151,99 |
221,63 |
131,46 |
78,39 |
|
Sales pro employee |
Value |
1.407.887 |
831.231 |
1.499.732 |
437.713 |
|
Labour cost pro employee |
Value |
40.733 |
37.211 |
36.877 |
33.928 |
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:
80.000
Eur.
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
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 6.137 significant companies.
The companies cash their credits
on an average of 120 dd.
The average duration of
suppliers debts is about 120 dd.
The sector's profitability is on
an average of 2,22%.
The labour cost affects the
turnover in the measure of 7,77%.
Goods are held in stock in a
range of 61 dd.
The difference between the sales
volume and the resources used to realize it is about 1,27.
The employees costs represent
the 7,90% 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 24.765.
The insolvency index for the
region is 0,55, , while for the province it is 0,66.
Total Bankrupt companies in the
province : 22.523.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.72 |
|
UK Pound |
1 |
Rs.81.42 |
|
Euro |
1 |
Rs.68.89 |
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.