MIRA
INFORM REPORT
|
Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PROMAU S.R.L. |
|
|
|
|
Registered Office : |
Via Ciuinelli 1150, 47522 Cesena (FC) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
05.09.1990 |
|
|
|
|
Com. Reg. No.: |
FO012-17104 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of Other Electrical Equipment |
|
|
|
|
No. of Employees : |
130 |
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 – September 30, 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 and address
|
Promau S.r.l. |
|
Via |
Civinelli, |
1150 |
|
47023 |
- Cesena |
(FO) |
-IT- |
Summary
|
Fiscal Code |
: |
02082500402 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
05/09/1990 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
35.000.000/50.000.000 Eur |
|
Number of Employees |
: |
from 111 to 130 |
Credit Analysis
|
Credit Opinion |
: |
250.000 - Eur |
|
|
|
|
Activity
Manufacture of other electrical equipment
Manufacture of metal forming machinery
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02082500402 |
|
Foreign Trade Reg. no. : FO003142 since 09/01/1992 |
|
Foreign Trade Reg. no. : 323216 of Forli' |
|
Chamber of Commerce no. : 239500 of Forli' since 29/11/1990 |
|
Firms' Register : FO012-17104 since 19/02/1996 |
|
V.A.T. Code : 02082500402 |
|
Tribunal Co. Register : 17104 of Forli' since 09/10/1990 |
|
Foundation date |
: 05/09/1990 |
|
|
Establishment date |
: 05/09/1990 |
|
|
Start of Activities |
: 05/09/1990 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 5.000.000 |
Eur |
|
Subscribed Capital |
: 5.000.000 |
Eur |
|
Paid up Capital |
: 5.000.000 |
Eur |
Members
|
|
Castellucci |
Barbara |
|
|
|
Born in Pianezza |
(TO) |
on 23/09/1958 |
- Fiscal Code : CSTBBR58P63G559H |
|
|
|
Residence : |
Corso |
G. Garibaldi |
, 119 |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
|
29/06/2009 |
|
|
|
|
Davi |
Orazio Maria |
|
|
|
Born in Tunisia |
on 01/10/1956 |
- Fiscal Code : DVARMR56R01Z352U |
|
|
|
Residence : |
Via |
Madonna Delle Rose |
, 19 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
29/06/2010 |
|
|
|
Director |
29/06/2010 |
|
|
|
Board Chairman |
29/06/2010 |
|
|
|
|
No Protests registered |
|
|
Davi |
Francesco |
|
|
|
Born in Sousse |
on 23/11/1961 |
- Fiscal Code : DVAFNC61S23Z352F |
|
|
|
Residence : |
Via |
Settecrociari |
, 4130 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
29/06/2010 |
|
|
|
Director |
29/06/2010 |
|
|
|
Assistant board Chairman |
29/06/2010 |
|
|
|
|
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.
|
|
DAVI |
ORAZIO MARIA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
DAVI S.P.A. |
Cesena (FO) - IT - |
01728480409 |
Vice-Chairman |
Withdrawn |
Ceased |
|
ITALMACCHINE - S.R.L. |
Cesena (FO) - IT - |
01224040400 |
Liquidator |
Withdrawn |
Ceased |
|
|
DAVI |
FRANCESCO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
DAVI S.P.A. |
Cesena (FO) - IT - |
01728480409 |
Managing Director |
Withdrawn |
Ceased |
|
ITALMACCHINE - S.R.L. |
Cesena (FO) - IT - |
01224040400 |
Liquidator |
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 |
|
Davi Orazio Maria |
Cesena - IT - |
DVARMR56R01Z352U |
2.500.000 .Eur |
50,00 |
|
Davi Francesco |
Cesena - IT - |
DVAFNC61S23Z352F |
2.500.000 .Eur |
50,00 |
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 |
|
Romagna Energia |
Cesena - IT - |
03104940402 |
140 .Eur |
0,02 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
since 05/09/1990 |
|
|
|
|
|
Via |
Civinelli |
, 1150 |
- 47023 |
- Cesena |
(FO) |
- IT - |
|
|
|
|
PHONE |
: 0547/318357 |
|
|
|
|
PHONE |
: 0547/319611 |
|
|
|
|
FAX |
: 0547/317564 |
|
|
|
|
|
: davi-sales@promau.net |
|
- |
Branch |
(Factory ) |
since 01/07/2007 |
|
|
|
|
|
Via |
Gorizia |
, 647 Loc. PANIGHINA |
- 47032 |
- Bertinoro |
(FO) |
- IT - |
|
- |
Branch |
|
since 01/01/2008 |
|
|
|
|
|
Via |
Filippo Turati |
, 932 Loc. PIEVESESTINA |
- 47023 |
- Cesena |
(FO) |
- IT - |
|
- |
Branch |
(Factory ) |
since 21/04/2008 |
|
|
|
|
|
Viale |
Bologna |
, 254/B |
- 47100 |
- Forli' |
(FO) |
- IT - |
|
|
|
|
Employees |
: 113 |
|
Fittings and Equipment for a value of 1.400.000 |
Eur |
|
Stocks for a value of 18.140.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own vehicles and third parties ones
The company 's mainly customers are companies.
|
|
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
|
- its own sales net-work |
|
- direct orders from foreign companies |
Subject generally proposes terms of sale between 30 and 60 days.
Financial means used for sale: bank transfers and bank orders.
Purchase terms: 60-90-120 days.
Main used payment modalities are by cash orders and bank transfers.
Export is mainly towards:
|
- Stati Uniti (USA) |
|
- Sud Africa |
|
- Europa |
Traded Brands / Suppliers
|
- DAVI |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Gorini |
Gianfranco |
|
|
|
Born in Bertinoro |
on 24/08/1947 |
- Fiscal Code : GRNGFR47M24A809R |
|
|
|
Residence : |
Via |
O. Regnoli |
, 2 |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Castellucci |
Barbara |
|
|
|
Born in Pianezza |
on 23/09/1958 |
- Fiscal Code : CSTBBR58P63G559H |
|
|
|
Residence : |
Corso |
G. Garibaldi |
, 119 |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Fanti |
Lorenzo |
|
|
|
Born in BAGNO DI ROMAGNA |
on 11/04/1948 |
- Fiscal Code : FNTLNZ48D11A565X |
|
|
|
Residence : |
Via |
GUERNICA |
, 15 |
- 47021 |
Bagno di Romagna |
(FO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Davi |
Vincenzo |
|
|
|
Born in Tunisia |
on 24/05/1927 |
- Fiscal Code : DVAVCN27E24Z352M |
|
|
|
Residence : |
Via |
Maratona |
, 72 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Davi |
Orazio Maria |
|
|
|
Born in Tunisia |
on 01/10/1956 |
- Fiscal Code : DVARMR56R01Z352U |
|
|
|
Residence : |
Via |
Madonna Delle Rose |
, 19 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Ex-Postions |
|
Assistant board Chairman |
|
|
Davi |
Francesco |
|
|
|
Born in Sousse |
on 23/11/1961 |
- Fiscal Code : DVAFNC61S23Z352F |
|
|
|
Residence : |
Via |
Settecrociari |
, 4130 |
- 47023 |
Cesena |
(FO) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorbed by merging of |
|
|
|
|
DAVI S.P.A.
|
|
|
, Cesena, Via Civinelli 1150 |
(FO) |
- IT - |
|
|
|
Date |
: |
12/11/1990 |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
CASSA DI RISPARMIO DI CESENA SPA |
FILIALE DI PIEVESESTINA |
VIA ZAVAGLIA, 600 |
47023 |
Cesena (FO) |
6120 |
23914 |
|
CASSA DI RISPARMIO DI CESENA SPA |
SEDE |
CORSO GARIBALDI, 18 |
47023 |
Cesena (FO) |
6120 |
23901 |
|
UNICREDIT BANCA SPA |
FORLI' SAFFI |
PIAZZA SAFFI, 43 |
47100 |
Forli' (FO) |
2008 |
13220 |
|
CASSA DI RISPARMIO DI CESENA SPA |
AG.2 |
VIA LEONIDA MONTANARI, 51 |
47023 |
Cesena (FO) |
6120 |
23932 |
|
BANCA ANTONVENETA |
BOLOGNA |
VIA MONTE GRAPPA, 3/A |
40100 |
Bologna (BO) |
5040 |
2400 |
Financial and Economical Analysis
Subject is active since 1990
Balance sheets for the years 2008, 2009 and 2010 were analyzed.
During the last years, it achieved profits (r.o.e. 11,81% on 2010) but without a significant increase in the turnover.
The return on Investment in the last financial year was positive (6,66%) and reflects the field's average.
The operating result is positive and amounts to Eur. 3.047.803 showing a downwards trend equal to -31,74% if compared to the value of the financial year 2009.
The economic management produced a gross operating margin of Eur. 6.819.757 , with a -25,03% decrease.
Company's financial status is balanced since indebtedness is not high (1,28) with an improving trend as on the decrease.
The management generated equity capital for an amount of Eur. 12.529.651 on the same levels as the year before.
During the last financial year total debts volume reached Eur. 28.066.379 (Eur. 11.864.602 were m/l term ones) whereas in the year before they amounted to Eur. 39.828.233, with a -29,53% drop.
The company does not exceed in bank credits; payments average period is instead slightly high (130,95 gg.) but lined up with the field's average.
Liquidity is good (1,83)
Trade credits average terms are slow, on average 92,02 days. within the average values of the sector.
2010 financial year closed with a cash flow of Eur. 3.668.475
Labour cost amounts to Eur. 5.688.792, with a 16,42% incidence on production costs. , with a 14,04% 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 |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
40.532.065 |
|
Profit (Loss) for the period |
1.479.831 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
42.035.008 |
|
Profit (Loss) for the period |
1.185.794 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
48.072.415 |
|
Profit (Loss) for the period |
458.069 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
34.316.891 |
|
Profit (Loss) for the period |
579.292 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
25.747.613 |
|
Profit (Loss) for the period |
451.840 |
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 |
0,35 |
0,32 |
0,30 |
0,19 |
|
Elasticity Ratio |
Units |
0,65 |
0,67 |
0,70 |
0,79 |
|
Availability of stock |
Units |
0,40 |
0,42 |
0,46 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,25 |
0,25 |
0,23 |
0,52 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,28 |
2,07 |
3,84 |
3,31 |
|
Self Financing Ratio |
Units |
0,27 |
0,20 |
0,15 |
0,18 |
|
Capital protection Ratio |
Units |
0,48 |
0,44 |
0,45 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,81 |
0,78 |
0,49 |
0,18 |
|
Financing |
Units |
2,24 |
3,60 |
5,65 |
4,09 |
|
Permanent Indebtedness Ratio |
Units |
0,56 |
0,53 |
0,42 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,29 |
0,33 |
0,28 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,92 |
1,51 |
2,72 |
0,61 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,61 |
1,64 |
1,41 |
1,80 |
|
Current ratio |
Units |
1,83 |
1,60 |
1,24 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,71 |
0,60 |
0,42 |
0,86 |
|
Structure's primary quotient |
Units |
0,79 |
0,63 |
0,49 |
1,12 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,00 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
365,03 |
493,20 |
688,76 |
541,00 |
|
Current Capital ( net ) |
Value |
13.495.530 |
13.704.790 |
9.261.676 |
380.064 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
9,05 |
10,94 |
4,65 |
3,59 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
11,81 |
10,73 |
4,64 |
4,82 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
25,87 |
27,14 |
9,62 |
19,04 |
|
Return on Investment ( R.O.I. ) |
% |
6,66 |
8,19 |
3,77 |
4,67 |
|
Return/ Sales |
% |
7,52 |
10,62 |
5,32 |
4,49 |
|
Extra Management revenues/charges incid. |
% |
48,55 |
26,56 |
17,90 |
25,43 |
|
Cash Flow |
Value |
3.668.475 |
4.600.482 |
2.235.294 |
134.539 |
|
Operating Profit |
Value |
3.047.803 |
4.465.155 |
2.558.843 |
158.212 |
|
Gross Operating Margin |
Value |
6.819.757 |
9.097.246 |
4.336.068 |
292.137 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
92,02 |
104,70 |
97,75 |
103,46 |
|
Debts to suppliers average term |
Days |
130,95 |
214,61 |
137,83 |
128,84 |
|
Average stock waiting period |
Days |
161,11 |
197,00 |
234,78 |
68,68 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,89 |
0,77 |
0,71 |
1,11 |
|
Rate of stock return |
Units |
2,23 |
1,83 |
1,53 |
5,22 |
|
Labour cost incidence |
% |
14,04 |
12,97 |
14,48 |
19,05 |
|
Net financial revenues/ charges incidence |
% |
0,48 |
- 3,25 |
- 3,56 |
- 1,26 |
|
Labour cost on purchasing expenses |
% |
16,42 |
16,84 |
13,34 |
19,40 |
|
Short-term financing charges |
% |
n.c. |
4,11 |
3,40 |
2,64 |
|
Capital on hand |
% |
112,84 |
129,65 |
141,33 |
90,11 |
|
Sales pro employee |
Value |
228.994 |
247.264 |
356.091 |
181.347 |
|
Labour cost pro employee |
Value |
32.140 |
32.078 |
51.576 |
33.313 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a base of 1.330 significant companies.
The companies cash their credits on an average of 103 dd.
The average duration of suppliers debts is about 128 dd.
The sector's profitability is on an average of 3,59%.
The labour cost affects the turnover in the measure of 19,05%.
Goods are held in stock in a range of 68 dd.
The difference between the sales volume and the resources used to realize it is about 1,11.
The employees costs represent the 19,40% of the production costs.
Statistical Detrimental Data
The area is statistically considered lowly risky.
In the region 18.860 protested subjects are found; in the province they count to 1.674.
The insolvency index for the region is 0,46, , while for the province it is 0,46.
Total Bankrupt companies in the province : 607.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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.