MIRA
INFORM REPORT
|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
TECNO GI S.P.A. |
|
|
|
|
Registered Office : |
Via Del Vallo, 7, 28071 -
Borgolavezzaro (NO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
20.06.1977 |
|
|
|
|
Com. Reg. No.: |
NO106-5501 of since 19/02/1996 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of chemical-based products, fertilisers and nitrogenous compounds, plastics and synthetic rubber in primary forms |
|
|
|
|
No. of Employees : |
51 to 70 employees |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Regular |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial economy, which is divided into a
developed industrial north, dominated by private companies, and a
less-developed, welfare-dependent, agricultural south, with high unemployment.
The Italian economy is driven in large part by the manufacture of high-quality
consumer goods produced by small and medium-sized enterprises, many of them
family owned. Italy also has a sizable underground economy, which by some
estimates accounts for as much as 17% of GDP. These activities are most common
within the agriculture, construction, and service sectors. Italy is the
third-largest economy in the euro-zone, but exceptionally high public debt
burdens and structural impediments to growth have rendered it vulnerable to
scrutiny by financial markets. Public debt has increased steadily since 2007,
reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt
have risen to record levels. During the second half of 2011 the government
passed a series of three austerity packages to balance its budget by 2013 and
decrease its public debt burden. These measures included a hike in the
value-added tax, pension reforms, and cuts to public administration. The
government also faces pressure from investors and European partners to address
Italy's long-standing structural impediments to growth, such as an inflexible
labor market and widespread tax evasion. The international financial crisis
worsened conditions in Italy''s labor market, with unemployment rising from 6.2%
in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility rate and
quota-driven immigration policies will increasingly strain its economy. The
euro-zone crisis along with Italian austerity measures have reduced exports and
domestic demand, slowing Italy''s recovery. Italy''s GDP is still 5% below its
2007 pre-crisis level.
|
Source : CIA |
Company name & address
Tecno Gi S.p.a.
Via Del Vallo, 7
28071 - Borgolavezzaro (NO) -IT-
Summary
|
Fiscal Code |
: |
00456870039 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
20/06/1977 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Manufacture of chemical-based products,
fertilisers and nitrogenous
compounds, plastics and
synthetic rubber in primary forms
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00456870039 |
|
Foreign Trade Reg. no. : NO005873 since
20/12/1991 |
|
Chamber of Commerce no. : 122890 of since
29/07/1977 |
|
Firms' Register : NO106-5501 of since
19/02/1996 |
|
V.A.T. Code : 00456870039 |
|
Foundation date |
: 20/06/1977 |
|
|
Establishment date |
: 20/06/1977 |
|
|
Start of Activities |
: 20/06/1977 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 1.000.000 |
|
|
Subscribed Capital |
: 1.000.000 |
|
|
Paid up Capital |
: 1.000.000 |
Members
|
Giardini |
Vittorio |
|
|
Born in Vigevano |
(PV) |
on 08/08/1929 |
- Fiscal Code : GRDVTR29M08L872C |
|
|
Residence: |
Castellana |
, 39 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
14/07/2003 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Zanetti |
Giovanni |
|
|
Born in Vigevano |
(PV) |
on 10/10/1947 |
- Fiscal Code : ZNTGNN47R10L872B |
|
|
Residence: |
Stropeni |
, 16 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2012 |
||
|
Managing Director |
29/06/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Giardini |
Laura |
|
|
Born in Vigevano |
(PV) |
on 16/07/1958 |
- Fiscal Code : GRDLRA58L56L872P |
|
|
Residence: |
Castellana |
, 39 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
29/06/2012 |
||
|
Director |
29/06/2012 |
||
|
Managing Director |
29/06/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Giardini |
Cesare Vittorio |
|
|
Born in Vigevano |
(PV) |
on 18/09/1961 |
- Fiscal Code : GRDCRV61P18L872V |
|
|
Residence: |
Mentana |
, 12 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Giardini |
Marco |
|
|
Born in Milano |
(MI) |
on 27/01/1964 |
- Fiscal Code : GRDMRC64A27F205T |
|
|
Residence: |
Andrea Solari |
, 23 |
- 20144 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Coarezza |
Luigi |
|
|
Born in Granozzo con Monticello |
(NO) |
on 10/08/1952 |
- Fiscal Code : CRZLGU52M10E143L |
|
|
Residence: |
Squarini |
, 24 |
- 28015 |
Momo |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Pastore |
Giuseppe |
|
|
Born in Milano |
(MI) |
on 28/07/1953 |
- Fiscal Code : PSTGPP53L28F205T |
|
|
Residence: |
Carcano Giulio |
, 34 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Responsible technician |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
Companies
connected to members *
*checkings have been performed
on a national scale.
In this module the companies in
which members hold/held positions are listed.
The Members of the subject firm
are not reported to be Members in other companies.
Capital Shareholders
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Zanetti Giovanni |
Vigevano - IT - |
ZNTGNN47R10L872B |
62.500 .Eur |
6,25 |
|
TUTOR S.R.L. |
Vigevano - IT - |
00807410188 |
204.000 .Eur |
11,55 |
|
Giardini Laura |
Vigevano - IT - |
GRDLRA58L56L872P |
21,38 |
|
|
Giardini Cesare Vittorio |
Vigevano - IT - |
GRDCRV61P18L872V |
21,38 |
|
|
Giardini Maria Cristina |
Vigevano - IT - |
GRDMCR63B54L872R |
10,40 |
|
|
Giardini Marco |
Milano - IT - |
GRDMRC64A27F205T |
10,40 |
|
|
MARASCHI ANGELA |
Vigevano - IT - |
MRSNGL46D43L872F |
62.500 .Eur |
6,25 |
|
Giardini Paola |
Vigevano - IT - |
GRDPLA69B61F205H |
10,40 |
|
|
Coarezza Luigi |
Momo - IT - |
CRZLGU52M10E143L |
20.000 .Eur |
2,00 |
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 |
|
Tecno Gi Plast S.p.a. |
Borgolavezzaro - IT - |
01682900186 |
282.880 .Eur |
64,00 |
Active |
||
|
Sipol S.p.a. |
Mortara - IT - |
01669490037 |
108.000 .Eur |
18,00 |
Active |
||
|
PFP S.R.L. |
8.676 .Eur |
84,00 |
Active |
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
since 20/06/1976 |
|
Del Vallo |
, 7 |
- 28071 |
- Borgolavezzaro |
(NO) |
- IT - |
|
PHONE |
: 0321885423 |
|
PHONE |
: 0321885422 |
|
FAX |
: 0321885333 |
|
Employees |
: 58 |
|
Fittings and Equipment for a value of
990.000 |
Eur |
|
Stocks for a value of 5.140.000 |
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 :
|
- importers |
|
- trading companies |
|
- its own sales net-work |
|
- its own agents |
|
- its own foreign branches |
|
- direct orders from foreign companies |
Import comes generally from the
following nations:
|
- Italy |
|
- France |
Export is mainly towards:
|
- Greece |
|
- Ireland |
|
- Austria |
|
- Belgium |
Historical Information and/or Firm's Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Giardini |
Vittorio |
|
|
Born in Vigevano |
(PV) |
on 08/08/1929 |
- Fiscal Code : GRDVTR29M08L872C |
|
|
Residence: |
Castellana |
, 39 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
Managing Director |
|
|
Giardini |
Aldo |
|
|
Born in VIGEVANO |
(PV) |
on 09/03/1935 |
- Fiscal Code : GRDLDA35C09L872H |
|
|
Residence: |
N. BIXIO |
, 11 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Zanetti |
Giovanni |
|
|
Born in Vigevano |
(PV) |
on 10/10/1947 |
- Fiscal Code : ZNTGNN47R10L872B |
|
|
Residence: |
Stropeni |
, 16 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Zaverio |
Domenico |
|
|
Born in Vigevano |
(PV) |
on 19/06/1935 |
- Fiscal Code : ZVRDNC35H19L872O |
|
|
Residence: |
Rossini |
, 8/A |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
RIZZO |
ANTONIO |
|
|
Born in CALVELLO |
(PZ) |
on 01/03/1959 |
- Fiscal Code : RZZNTN59C01B440I |
|
|
Residence: |
DELLA REPUBBLICA |
, 9 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Ex-Postions |
|
Attorney General |
|
|
Giardini |
Laura |
|
|
Born in Vigevano |
(PV) |
on 16/07/1958 |
- Fiscal Code : GRDLRA58L56L872P |
|
|
Residence: |
Castellana |
, 39 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Ex-Postions |
|
Attorney General |
Protests
Protests checking on the subject
firm has given a negative result.
Data Base Prejudicial Events Search
Search performed on a National
Scale
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a
specialized data base.
Legal Procedures
None reported, standing to the
latest received edition of the Official Publications.
Financial and Economical Analysis
Subject is active since 1976
Balance sheets for the years
2009, 2010 and 2011 were analyzed.
During the last years, it
achieved profits (r.o.e. 15,85% on 2011) with a remarkable upward trend
(+10,98% on 2011 compared to 2010 and +32,34% on 2010 compared to 2009).
The return on Investment in the
last financial year was positive (14,23%) falling within the field's average.
An operating result of Eur.
4.848.571 has been registered. on stable levels if compared to the previous
year.
The economic management produced
a gross operating margin of Eur. 5.456.268 with no sensible increase as against
2010.
From a financial aspect the
company's status covers total short-term debts; the indebtedness volume in 2011
is in fact 0,07
Subject can manage an equity
capital funds for an amount of Eur. 25.373.578 , unchanged if compared to 2010.
In the year 2011 total debts
amounted to Eur. 7.426.383 showing a stable trend as opposed to 2010 (Eur.
6.948.891).
The company does not exceed in
bank borrowings; the recourse to suppliers' credit is also limited below the
sector's average.
The liquidity level is positive
(3,68).
Due from customers average term
is high and equal to 102,78 days. within the average values of the sector.
During financial year 2011 the
cash flow amounted to Eur. 4.630.234
Labour cost amounts to Eur.
2.742.298, with a 8,33% incidence on production costs. , whereas 7,38% is the incidence
on sales revenues.
The financial management is
positive as incomes are higher than the charges.
Financial Data
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.139.610 |
|
Profit (Loss) for the period |
4.022.537 |
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
33.462.905 |
|
Profit (Loss) for the period |
3.681.204 |
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.283.980 |
|
Profit (Loss) for the period |
2.329.295 |
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
28.595.685 |
|
Profit (Loss) for the period |
2.650.264 |
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 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as
at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value
Type |
as at 31/12/2011 |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,19 |
0,17 |
0,20 |
0,34 |
|
Elasticity Ratio |
Units |
0,80 |
0,83 |
0,80 |
0,64 |
|
Availability of stock |
Units |
0,15 |
0,12 |
0,15 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,65 |
0,70 |
0,65 |
0,46 |
|
Quick Ratio |
Units |
0,31 |
0,41 |
0,38 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,07 |
n.c. |
n.c. |
1,80 |
|
Self Financing Ratio |
Units |
0,74 |
0,78 |
0,81 |
0,26 |
|
Capital protection Ratio |
Units |
0,80 |
0,84 |
0,88 |
0,75 |
|
Liabilities consolidation quotient |
Units |
0,10 |
0,12 |
0,16 |
0,23 |
|
Financing |
Units |
0,29 |
0,24 |
0,19 |
2,59 |
|
Permanent Indebtedness Ratio |
Units |
0,77 |
0,80 |
0,83 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,02 |
0,02 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,57 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,95 |
4,67 |
4,22 |
1,28 |
|
Current ratio |
Units |
3,68 |
4,44 |
5,25 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,99 |
3,78 |
4,26 |
0,84 |
|
Structure's primary quotient |
Units |
3,84 |
4,54 |
4,10 |
0,74 |
|
Treasury's primary quotient |
Units |
1,40 |
2,21 |
2,48 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
134,25 |
128,61 |
123,85 |
381,85 |
|
Current Capital ( net ) |
Value |
19.897.194 |
23.774.944 |
21.837.954 |
401.161 |
|
RETURN |
|||||
|
Return on Sales |
% |
12,47 |
12,33 |
11,29 |
3,85 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,85 |
12,76 |
8,57 |
2,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
22,29 |
18,41 |
12,42 |
8,97 |
|
Return on Investment ( R.O.I. ) |
% |
14,23 |
13,01 |
8,86 |
4,02 |
|
Return/ Sales |
% |
13,05 |
14,43 |
11,80 |
3,73 |
|
Extra Management revenues/charges incid. |
% |
82,96 |
76,24 |
78,09 |
25,78 |
|
Cash Flow |
Value |
4.630.234 |
4.124.761 |
2.853.898 |
297.038 |
|
Operating Profit |
Value |
4.848.571 |
4.828.554 |
2.982.720 |
271.622 |
|
Gross Operating Margin |
Value |
5.456.268 |
5.272.111 |
3.507.323 |
541.113 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
102,78 |
103,14 |
120,31 |
112,20 |
|
Debts to suppliers average term |
Days |
75,83 |
82,13 |
88,13 |
101,28 |
|
Average stock waiting period |
Days |
49,80 |
49,27 |
72,70 |
48,71 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,09 |
0,90 |
0,75 |
1,14 |
|
Rate of stock return |
Units |
7,23 |
7,31 |
4,95 |
7,38 |
|
Labour cost incidence |
% |
7,38 |
7,73 |
9,59 |
15,03 |
|
Net financial revenues/ charges incidence |
% |
3,20 |
1,41 |
1,14 |
-1,41 |
|
Labour cost on purchasing expenses |
% |
8,33 |
9,26 |
10,75 |
14,64 |
|
Short-term financing charges |
% |
1,88 |
1,81 |
5,02 |
3,20 |
|
Capital on hand |
% |
91,72 |
110,89 |
133,09 |
86,99 |
|
Sales pro employee |
Value |
64.590 |
597.551 |
451.499 |
279.071 |
|
Labour cost pro employee |
Value |
4.769 |
46.162 |
43.277 |
38.958 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.