|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
FAMAZ INTERNATIONAL S.R.L. |
|
|
|
|
Registered Office : |
Via Grandi, 22/24,
56029 - Santa Croce sull'Arno (PI) -IT- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
25.06.2009 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of skins and untreated and treated leather |
|
|
|
|
No. of Employees : |
6 to 10 |
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 : |
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 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 |
Famaz
International S.r.l.
Via Grandi, 22/24
56029 - Santa Croce sull'Arno (PI) -IT-
|
Fiscal Code |
: |
01929120507 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
30/07/2009 |
|
Equity |
: |
300.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Wholesale of skins and untreated and treated
leather (except skins for furs)
Wholesale of Industrial chemical products
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 01929120507 |
|
Chamber of Commerce no. : 166496 of since
08/07/2009 |
|
V.A.T. Code : 01929120507 |
|
Establishment date |
: 25/06/2009 |
|
|
Start of Activities |
: 30/07/2009 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 25.000 |
|
|
Subscribed Capital |
: 25.000 |
|
|
Paid up Capital |
: 25.000 |
|
|
|
Mazzei |
Fabrizio |
|
|
|
Born in Fucecchio |
(FI) |
on 09/09/1964 |
- Fiscal Code : MZZFRZ64P09D815B |
|
|
|
Residence: |
|
Delle Porte |
, 35/A |
- 56020 |
Montopoli in Val d'Arno |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
25/06/2009 |
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Bramaz S.r.l. |
|
|
|
|
|
|
: |
|
Basili |
, 4 |
- 56029 |
Santa Croce sull'Arno |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
25.000 - |
100,00 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
*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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bramaz S.r.l. |
Santa Croce sull'Arno - IT - |
01745150506 |
|
100,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Grandi |
, 22/24 |
- 56029 |
- Santa Croce sull'Arno |
(PI) |
- IT - |
|
|
|
|
PHONE |
: 0571385117 |
|
|
|
|
Employees |
: 5 |
|
|
|
|
Assistants |
: 1 |
|
Stocks for a value of 1.170.000 |
Eur |
|
|
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official Publications.
The company has been active for some years.
The eonomic-financial analysis is based on
the latest 3 b/s.
During the last years, it achieved profits
(r.o.e. 40,87% on 2011) with a stable trend in the turnover.
The operating result in 2011 was positive
(9,22%) and in line with the sector's average.
The amount of the operating result is equal
to Eur. 273.380 showing an upward trend 55,86% compared to the previous
financial year.
The gross operating margin of the latest
financial year is of Eur. 281.832 with a 56,97% growth.
The ratio between shareholder's equity and borrowed
capital is not well balanced, the indebtedness level is equal to 7,46 falling
if compared to 2010.
The management generated equity capital for
an amount of Eur. 259.650 , rising by 69,11%.
Total indebtedness was equal to Eur.
2.614.738 (Eur. 299.999 was the value of m/l term debts) increasing if compared
to the previous year, during which they were equal to Eur. 1.885.564 (38,67%).
The recourse to bank credit is slightly high
and also borrowings from suppliers appear to be high, with an average payment
period equal to 127,78 gg. even in comparison with the sector's.
The available funds are good.
Trade credits are collected slowly, average
term is 118,43 days. and higher than the average of the sector.
During financial year 2011 the cash flow
amounted to Eur. 114.565
In the last financial year labour cost was
of Eur. 129.701, with a 2,7% incidence on total costs of production. , whereas
the incidence on sales revenues is of 3,31%.
Finacial chareges are high: the incidence on
sales volume amounts to -2,13%
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.919.534 |
|
Profit (Loss) for the period |
106.113 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.736.047 |
|
Profit (Loss) for the period |
111.736 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
489.099 |
|
Profit (Loss) for the period |
16.799 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,01 |
0,02 |
0,00 |
0,11 |
|
Elasticity Ratio |
Units |
0,99 |
0,98 |
0,99 |
0,87 |
|
Availability of stock |
Units |
0,39 |
0,23 |
0,29 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,75 |
0,70 |
0,61 |
|
Quick Ratio |
Units |
0,13 |
0,09 |
0,11 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
7,46 |
11,06 |
14,66 |
3,90 |
|
Self Financing Ratio |
Units |
0,09 |
0,07 |
0,06 |
0,17 |
|
Capital protection Ratio |
Units |
0,50 |
0,11 |
0,00 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,13 |
0,00 |
n.c. |
0,09 |
|
Financing |
Units |
10,07 |
12,28 |
16,58 |
4,57 |
|
Permanent Indebtedness Ratio |
Units |
0,19 |
0,08 |
0,06 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,00 |
n.c. |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
2,65 |
n.c. |
n.c. |
0,96 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
17,59 |
4,14 |
12,01 |
2,10 |
|
Current ratio |
Units |
1,27 |
1,08 |
1,07 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,76 |
0,82 |
0,75 |
0,86 |
|
Structure's primary quotient |
Units |
8,00 |
4,01 |
12,01 |
1,34 |
|
Treasury's primary quotient |
Units |
0,16 |
0,10 |
0,12 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1141,41 |
1354,00 |
1782,15 |
587,66 |
|
Current Capital ( net ) |
Value |
615.991 |
152.855 |
47.168 |
135.886 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
2,92 |
3,10 |
3,48 |
1,61 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
40,87 |
72,78 |
40,19 |
5,01 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
72,77 |
118,55 |
62,87 |
13,67 |
|
Return on Investment ( R.O.I. ) |
% |
9,22 |
8,44 |
3,46 |
4,30 |
|
Return/ Sales |
% |
6,97 |
4,69 |
5,27 |
2,39 |
|
Extra Management revenues/charges incid. |
% |
38,82 |
63,71 |
65,19 |
27,17 |
|
Cash Flow |
Value |
114.565 |
115.891 |
17.019 |
47.597 |
|
Operating Profit |
Value |
273.380 |
175.390 |
25.768 |
71.380 |
|
Gross Operating Margin |
Value |
281.832 |
179.545 |
25.988 |
124.518 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
118,43 |
129,00 |
n.c. |
90,43 |
|
Debts to suppliers average term |
Days |
127,78 |
n.c. |
n.c. |
76,51 |
|
Average stock waiting period |
Days |
107,11 |
46,97 |
160,26 |
37,27 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,32 |
1,80 |
0,66 |
1,64 |
|
Rate of stock return |
Units |
3,36 |
7,66 |
2,25 |
9,56 |
|
Labour cost incidence |
% |
3,31 |
2,87 |
n.c. |
4,81 |
|
Net financial revenues/ charges incidence |
% |
-2,13 |
0,19 |
0,10 |
-0,99 |
|
Labour cost on purchasing expenses |
% |
2,70 |
3,01 |
n.c. |
4,83 |
|
Short-term financing charges |
% |
3,23 |
n.c. |
n.c. |
2,90 |
|
Capital on hand |
% |
75,61 |
55,64 |
152,30 |
60,86 |
|
Sales pro employee |
Value |
979.883 |
1.245.349 |
|
686.413 |
|
Labour cost pro employee |
Value |
32.425 |
35.700 |
|
33.271 |
Our Company collects data from public registers, lists, archives or contained
in Acts and/or documents (held by the National Chamber of Commerce or
Immovables Territorial Agency), users, reporters or however generally
accessible (for example, from categorical lists, statistical institutes, press
reports and from public inspection internet sites).
The present report is supplied for Your exclusive use and is
bond to the general conditions of the contract. Personal Data collection and
treatment, reported, are conform to our company's activities and to Your
mandate conferred to us by Your request, for the purposes in relation to
Marketing Management, Sales and Monetary Administration. It does not contain,
nor could contain, information cancelled by a justified opposition right.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.