MIRA
INFORM REPORT
|
Report Date : |
23.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
FRATELLI LOCCI S.R.L. ESTRAZIONI MINERARIE |
|
|
|
|
Registered Office : |
Via Tavolara,1 09016- Iglesias(CA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
18.03.1974 |
|
|
|
|
Com. Reg. No.: |
CA009-6515 since 19/02/1996 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Extraction of pumice and other minerals |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Usually Correct |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Fratelli Locci S.r.l. Estrazioni Minerarie
Via Tavolara,1
09016- Iglesias(CA)-IT-
Summary
|
Fiscal Code |
: |
00275510923 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
18/03/1974 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
15.500.000/18.000.000 Eur |
|
Number of Employees |
: |
from 150 to 175 |
Activity
Extraction of pumice and other minerals n.e.c.
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 00275510923 |
|
Chamber of Commerce no. : 85638 of Cagliari since 22/08/1974 |
|
Chamber of Commerce no. : 172482 of Sassari |
|
Firms' Register : CA009-6515 since 19/02/1996 |
|
V.A.T. Code : 00275510923 |
|
Foundation date |
: 18/03/1974 |
|
|
Establishment date |
: 18/03/1974 |
|
|
Start of Activities |
: 18/03/1974 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.330 |
Eur |
|
Subscribed Capital |
: 10.330 |
Eur |
|
Paid up Capital |
: 10.330 |
Eur |
Members
|
|
Locci |
Antonello |
|
|
|
Born in Iglesias |
(CA) |
on 28/11/1939 |
- Fiscal Code : LCCNNL39S28E281R |
|
|
|
Residence : |
Via |
Barbagia |
, 6 |
- 09016 |
Iglesias |
(CA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
03/04/1998 |
|
|
|
Manager |
12/03/1998 |
|
|
|
|
No Protests registered |
|
|
Pinna |
Aldo |
|
|
|
Born in Iglesias |
(CA) |
on 12/10/1943 |
- Fiscal Code : PNNLDA43R12E281T |
|
|
|
Residence : |
Corso |
Colombo |
, 116 |
- 09016 |
Iglesias |
(CA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Technical Manager |
11/04/1990 |
|
|
|
|
No Protests registered |
|
|
Ullargiu |
Maurizio |
|
|
|
Born in Iglesias |
(CA) |
on 10/05/1967 |
- Fiscal Code : LLRMRZ67E10E281O |
|
|
|
Residence : |
Via |
Costituzione |
, 8 |
- 09010 |
Gonnesa |
(CA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/04/2011 |
|
|
|
|
No Protests registered |
|
|
Locci |
Alessandro |
|
|
|
Born in Iglesias |
(CA) |
on 25/08/1973 |
- Fiscal Code : LCCLSN73M25E281N |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Technical Manager |
14/01/2002 |
|
|
|
|
No Protests registered |
|
|
Locci |
Italo |
|
|
|
Born in Iglesias |
(CA) |
on 10/04/1944 |
- Fiscal Code : LCCTLI44D10E281D |
|
|
|
Residence : |
Via |
Barbagia |
, 6 |
- 09016 |
Iglesias |
(CA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Technical Manager |
12/11/2004 |
|
|
|
|
No Protests registered |
|
|
Pitzalis |
Pinuccio |
|
|
|
Born in Fluminimaggiore |
(CA) |
on 30/09/1947 |
- Fiscal Code : PTZPCC47P30D639C |
|
Position |
Since |
Shares Amount |
% Ownership |
|
|
|
|
|
|
|
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.
|
|
LOCCI |
ANTONELLO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
FRANSCAVI SRL |
Iglesias (CA) - IT - |
01683390224 |
Sole Director |
Active |
Registered |
|
GEOLOGIA MINERARIA S.R.L. IN FORMA
ABBREVIATA GEO.MIN. S.R.L. |
Iglesias (CA) - IT - |
02679620928 |
Sole Director |
Active |
Registered |
|
IMMOBILIARE A.LO.IT. S.R.L. |
Iglesias (CA) - IT - |
02775620921 |
Sole Director |
Active |
Registered |
|
LOCCI ANTONELLO |
Iglesias (CA) - IT - |
LCCNNL39S28E281R |
Proprietor |
Active |
Registered |
|
SO.PIN. E C. S.R.L. |
Iglesias (CA) - IT - |
01931500928 |
Attorney with
special power |
Active |
Registered |
|
SO.PIN. E C. S.R.L. |
Iglesias (CA) - IT - |
01931500928 |
Manager |
Active |
Registered |
|
SPIMOT - S.N.C. - IN LIQUIDAZIONE - |
Iglesias (CA) - IT - |
00602720922 |
Liquidator |
Withdrawn |
Registered |
|
TRA.L.M.E.C. - S.R.L. TRASPORTI LAPIDEI
MATERIALI EDILI E CALCESTRUZZO |
Iglesias (CA) - IT - |
01599790928 |
Institor |
Active |
Registered |
|
|
ULLARGIU |
MAURIZIO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
SO.PIN. E C. S.R.L. |
Iglesias (CA) - IT - |
01931500928 |
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 |
|
Locci Antonello |
Iglesias - IT - |
LCCNNL39S28E281R |
2.066 .Eur |
20,00 |
|
Pinna Aldo |
Iglesias - IT - |
PNNLDA43R12E281T |
2.066 .Eur |
20,00 |
|
Locci Italo |
Iglesias - IT - |
LCCTLI44D10E281D |
4.132 .Eur |
40,00 |
|
Concas Dina |
|
CNCDNI46B55E281A |
2.066 .Eur |
20,00 |
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 |
|
Consorzio C.l.c. |
|
10369741003 |
|
|
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
Via |
Tavolara |
, 1 |
- 09016 |
- Iglesias |
(CA) |
- IT - |
|
|
|
|
PHONE |
: 0781/33855 |
|
|
|
|
PHONE |
: 0781/21186 |
|
|
|
|
FAX |
: 0781/21191 |
|
- |
Branch |
(Quarry ) |
since 15/11/1993 |
|
|
|
|
|
Localita' |
Su Strintu De S'axina |
, Loc. BARBUSI |
- 09013 |
- Carbonia |
(CA) |
- IT - |
|
|
|
|
PHONE |
: 0781/698074 |
|
|
|
|
FAX |
: 0781/24610 |
|
- |
Branch |
|
since 01/06/1994 |
|
|
|
|
|
Zona Industriale |
Regione Sa Stoia |
- 09016 |
- Iglesias |
(CA) |
- IT - |
|
|
|
|
PHONE |
: 0781/2186 |
|
|
|
|
FAX |
: 0781/21306 |
|
- |
Branch |
(Warehouse ) |
since 22/06/2010 |
|
|
|
|
|
Z.i. Portovesme |
, SNC |
- 09010 |
- Portoscuso |
(CA) |
- IT - |
|
- |
Branch |
|
since 22/06/2010 |
|
|
|
|
|
Localita' |
Flumentepido |
, SNC |
- 09013 |
- Carbonia |
(CA) |
- IT - |
|
- |
Branch |
|
since 22/06/2010 |
|
|
|
|
|
Localita' |
Campu Sa Pira |
, SNC |
- 09044 |
- Quartucciu |
(CA) |
- IT - |
|
- |
Branch |
(Yard ) |
since 22/06/2010 |
|
|
|
|
|
Localita' |
Brunestica |
, SNC |
- 07040 |
- Olmedo |
(SS) |
- IT - |
|
|
|
|
Employees |
: 169 |
|
Fittings and Equipment for a value of 2.160.000 |
Eur |
|
Stocks for a value of 420.000 |
Eur |
|
|
Historical Information and/or Firm's Status
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
F.lli Locci Estrazioni Minerarie Srl |
F.lli Locci Srl Estrazioni Minerarie |
16/03/1990 |
EX-MEMBERS / EX-POSITIONS:
|
|
Locci |
Antonello |
|
|
|
Born in Iglesias |
on 28/11/1939 |
- Fiscal Code : LCCNNL39S28E281R |
|
|
|
Residence : |
Via |
Barbagia |
, 6 |
- 09016 |
Iglesias |
(CA) |
- IT - |
|
Ex-Postions |
|
Sole Director |
Protests
Protests checking on the subject firm has given a negative result.
Land Registry Office Prejudicial Registrations *
*Checking is performed on a national scale.
|
|
|
The follwing events are found registered against the subject: |
Bankrupcty Judgment - Mod.60 on 15/12/2009.
|
TRIBUNALE DI
CAGLIARI |
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 1974.
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it recorded positive net results (r.o.e. 1,31% in
2010)
The operating result was positive in the last financial year (0,65%) and
in line with the sector's average.
The operating result is positive and amounts to Eur. 166.799 showing an
upward trend more then 100% compared to the previous financial year.
The G.O.M. amounted to Eur. 809.952 showing a drop (-50,14%).
The ratio between debts and total assets is fairly high, as it comes out
from the indebtedness (4,31) which is also improving if compared to the
previous year.
The equity capital is equal to Eur. 4.554.268 , unchanged if compared to
2009.
During the last financial year total debts volume reached Eur.
20.466.802 (Eur. 802.719 were m/l term ones) , showing an upward trend if
compared to 2009.
Financial indebdtedness is under control whereas debts to suppliers are
frequent and higher than sector's average.
Even liquidity range appears to be not completely sufficient.
Accounts receivable average term is high (336,91 days). even if compared
to the average of the sector.
Eur. 702.824 is the value of cash flow during the year 2010
Labour cost expenses amount to Eur. 5.069.926 , representing 26,11% on
the total of production costs. and a 29,79% incidence on sales volumes.
The financial management is marked by a high incidence of financial
charges in relation to sales revenues (-1,51%).
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
17.018.506 |
|
Profit (Loss) for the period |
59.671 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
21.067.322 |
|
Profit (Loss) for the period |
1.832.133 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
26.595.207 |
|
Profit (Loss) for the period |
1.146.538 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
26.792.518 |
|
Profit (Loss) for the period |
453.695 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
23.375.373 |
|
Profit (Loss) for the period |
385.727 |
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 |
0,24 |
0,25 |
0,31 |
0,40 |
|
Elasticity Ratio |
Units |
0,74 |
0,73 |
0,68 |
0,71 |
|
Availability of stock |
Units |
0,02 |
n.c. |
n.c. |
0,13 |
|
Total Liquidity Ratio |
Units |
0,73 |
0,73 |
0,68 |
0,41 |
|
Quick Ratio |
Units |
0,00 |
0,03 |
0,02 |
0,00 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
4,31 |
2,99 |
4,41 |
1,18 |
|
Self Financing Ratio |
Units |
0,18 |
0,21 |
0,14 |
0,23 |
|
Capital protection Ratio |
Units |
0,98 |
0,63 |
0,66 |
0,74 |
|
Liabilities consolidation quotient |
Units |
0,07 |
0,09 |
0,14 |
0,41 |
|
Financing |
Units |
4,49 |
3,28 |
5,02 |
1,61 |
|
Permanent Indebtedness Ratio |
Units |
0,23 |
0,27 |
0,24 |
0,49 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,06 |
0,10 |
0,14 |
|
Net Financial Indebtedness Ratio |
Units |
0,85 |
0,34 |
0,84 |
0,93 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,95 |
1,05 |
0,76 |
0,81 |
|
Current ratio |
Units |
0,97 |
1,12 |
1,02 |
0,96 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,94 |
1,12 |
1,02 |
1,19 |
|
Structure's primary quotient |
Units |
0,74 |
0,82 |
0,46 |
0,62 |
|
Treasury's primary quotient |
Units |
0,00 |
0,04 |
0,04 |
0,01 |
|
Rate of indebtedness ( Leverage ) |
% |
561,18 |
480,18 |
691,38 |
212,15 |
|
Current Capital ( net ) |
Value |
-672.148 |
1.879.492 |
324.995 |
465.765 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,13 |
16,65 |
12,37 |
5,96 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,31 |
37,05 |
34,11 |
1,63 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
5,02 |
40,37 |
49,83 |
3,58 |
|
Return on Investment ( R.O.I. ) |
% |
0,65 |
- 0,22 |
8,42 |
3,62 |
|
Return/ Sales |
% |
0,98 |
- 0,25 |
7,36 |
6,04 |
|
Extra Management revenues/charges incid. |
% |
35,77 |
n.c. |
58,57 |
14,73 |
|
Cash Flow |
Value |
702.824 |
3.508.206 |
3.288.719 |
223.312 |
|
Operating Profit |
Value |
166.799 |
-52.237 |
1.957.672 |
188.682 |
|
Gross Operating Margin |
Value |
809.952 |
1.624.587 |
4.103.087 |
470.225 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
336,91 |
255,42 |
188,94 |
145,64 |
|
Debts to suppliers average term |
Days |
356,65 |
264,94 |
228,78 |
127,28 |
|
Average stock waiting period |
Days |
8,84 |
n.c. |
n.c. |
49,53 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,67 |
0,89 |
1,14 |
0,53 |
|
Rate of stock return |
Units |
40,71 |
n.c. |
n.c. |
6,37 |
|
Labour cost incidence |
% |
29,79 |
21,52 |
22,35 |
13,13 |
|
Net financial revenues/ charges incidence |
% |
- 1,51 |
- 1,53 |
- 1,48 |
- 2,84 |
|
Labour cost on purchasing expenses |
% |
26,11 |
21,47 |
24,13 |
12,61 |
|
Short-term financing charges |
% |
2,01 |
2,51 |
2,69 |
3,65 |
|
Capital on hand |
% |
150,17 |
112,71 |
87,39 |
154,04 |
|
Sales pro employee |
Value |
136.148 |
137.694 |
221.626 |
270.044 |
|
Labour cost pro employee |
Value |
40.559 |
29.636 |
49.535 |
44.265 |
Market / Territory Data
|
Population living in the province |
: |
767.062 |
|
Population living in the region |
: |
1.650.052 |
|
Number of families in the region |
: |
619.253 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
473 |
|
- per non food products |
: |
1.624 |
|
- per energy consume |
: |
109 |
Sector Data
The values are calculated on a base of 68 significant companies.
The companies cash their credits on an average of 145 dd.
The average duration of suppliers debts is about 127 dd.
The sector's profitability is on an average of 5,96%.
The labour cost affects the turnover in the measure of 13,13%.
Goods are held in stock in a range of 49 dd.
The difference between the sales volume and the resources used to
realize it is about 0,53.
The employees costs represent the 12,61% of the production costs.
Statistical Detrimental Data
The area is statistically considered moderately risky.
In the region 8.487 protested subjects are found; in the province they
count to 3.986.
The insolvency index for the region is 0,52, , while for the province it
is 0,52.
Total Bankrupt companies in the province : 2.787.
Total Bankrupt companies in the region : 5.266.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
|
1 |
Rs.75.48 |
|
Euro |
1 |
Rs.66.10 |
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.