MIRA
INFORM REPORT
|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MED INT - S.R.L. |
|
|
|
|
Registered Office : |
Viale Dei Caduti Per La Resistenza, 183, 00100 - Roma (RM) |
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Country : |
Italy |
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|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
31.10.2002 |
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|
Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Wholesaler of frozen, deep-frozen, conserved o dried
fished products |
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|
|
|
No. of Employees : |
01 to 05 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 : |
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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
Med Int - s.r.l.
Viale Dei Caduti Per La Resistenza, 183
00100 - Roma (RM) -IT-
Summary
|
Fiscal Code |
: |
07257481007 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
31/10/2002 |
|
Equity |
: |
400.000 |
|
Turnover Range |
: |
6.500.000/7.750.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Wholesale of frozen,
deep-frozen, conserved o dried fished products
Non-specialised wholesale of
deep-frozen products
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 07257481007 |
|
Chamber of Commerce no. : 1022060 of since
20/11/2002 |
|
V.A.T. Code : 07257481007 |
|
Establishment date |
: 31/10/2002 |
|
|
Start of Activities |
: 31/10/2002 |
|
|
Legal duration |
: 31/12/2050 |
|
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Nominal Capital |
: 70.700 |
|
|
Subscribed Capital |
: 70.700 |
|
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Paid up Capital |
: 70.700 |
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Members
|
|
Faricelli |
Mario |
|
|
|
Born in Riva del Garda |
(TN) |
on 05/08/1946 |
- Fiscal Code : FRCMRA46M05H330P |
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|
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Residence: |
|
P. Antonio Filippini |
, 11 |
- 00144 |
Roma |
(RM) |
- IT - |
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||
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Position |
Since |
Shares Amount |
% Ownership |
||||||||||
|
Sole Director |
16/09/2011 |
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||||||||||
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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 |
|
Faricelli Valerio |
Roma - IT - |
FRCVLR79E04H501L |
45.573 .Eur |
64,46 |
|
Faricelli Marco |
Roma - IT - |
FRCMRC82T23H501R |
3.499 .Eur |
4,95 |
|
Faricelli Mario |
Roma - IT - |
FRCMRA46M05H330P |
21.628 .Eur |
30,59 |
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 |
|
|
|
|
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|
Dei Caduti Per La Resistenza |
, 183 |
- 00100 |
- Roma |
(RM) |
- IT - |
|
|
|
|
Employees |
: 4 |
|
Fittings and Equipment for a value of
96.000 |
Eur |
|
Stocks for a value of 1.290.000 |
Eur |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Faricelli |
Valerio |
|
|
|
Born in Roma |
(RM) |
on 04/05/1979 |
- Fiscal Code : FRCVLR79E04H501L |
|
|
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Residence: |
|
Pad. G.a. Filippini |
, 11 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Ex-Postions |
|
Sole Director |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of
merging by taking over of |
|
|
|
Med
International Company - Societa' A Responsabilita' Limitata |
|
|
|
|
DEI CADUTI PER LA RESISTENZA |
, 183 |
, 00100 |
, Roma |
(RM) |
- IT - |
|
|
|
Fiscal Code: 04819941008 |
|
|
|
Date |
Merging/splitting-up project: |
09/11/2011 |
|
|
The firm
absorbed by merging of |
|
|
|
Med
International Company - Societa' A Responsabilita' Limitata |
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|
|
|
DEI CADUTI PER LA RESISTENZA |
, 183 |
, 00100 |
, Roma |
(RM) |
- IT - |
|
|
|
Fiscal Code: 04819941008 |
|
|
|
Date |
: |
20/12/2011 |
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 2002
The economic-financial analysis
has been made on the base of the b/s of the latests three years.
During the last years, it
achieved profits (r.o.e. 44,13% on 2011) with a remarkable upward trend (+16,7%
on 2011 compared to 2010 and +15,48% on 2010 compared to 2009).
The return on Investment in the
last financial year was positive (10,38%) and in line with the sector's
average.
The amount of the operating
result is equal to Eur. 405.603 with no increase in relation to the financial
year 2010.
A gross operating margine for a
value of Eur. 524.194 was reached. with no sensible increase as against 2010.
The ratio between debts and
total assets is fairly high, as it comes out from the indebtedness (7,38)
falling if compared to 2010.
With regard to equity capital,
an amount of Eur. 374.495 is registered. with a growth of 81,48% in 2011.
Total debts recorded amounted to
Eur. 3.442.472 (Eur. 674.969 of which were m/l term debts) , a more or less
stable value.
The recourse to bank credit is
high compared to net worth, debts to suppliers are on the other hand limited
which is also lower than the sector average.
The liquidity level is positive
(1,39).
Due from customers average term
is high and equal to 112,23 days. besides being higher than the sector's
average.
Eur. 283.868 is the value of
cash flow during the year 2011
In the last financial year
labour cost was of Eur. 261.371, with a 3,59% incidence on total costs of
production. and a 3,42% incidence on sales volumes.
The incidence percentage of
financial charges on sales volume is equal to -1,81%.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.653.611 |
|
Profit (Loss) for the period |
165.277 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.558.299 |
|
Profit (Loss) for the period |
85.831 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.679.015 |
|
Profit (Loss) for the period |
38.544 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.019.973 |
|
Profit (Loss) for the period |
7.599 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.276.892 |
|
Profit (Loss) for the period |
8.277 |
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 |
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- 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 |
0,01 |
0,02 |
0,01 |
0,13 |
|
Elasticity Ratio |
Units |
0,99 |
0,98 |
0,99 |
0,85 |
|
Availability of stock |
Units |
0,33 |
0,28 |
0,24 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,66 |
0,70 |
0,74 |
0,62 |
|
Quick Ratio |
Units |
0,01 |
0,04 |
0,02 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
7,38 |
11,02 |
15,36 |
5,02 |
|
Self Financing Ratio |
Units |
0,10 |
0,06 |
0,05 |
0,13 |
|
Capital protection Ratio |
Units |
0,37 |
0,24 |
0,10 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,27 |
0,26 |
0,28 |
0,10 |
|
Financing |
Units |
9,19 |
14,40 |
19,86 |
6,17 |
|
Permanent Indebtedness Ratio |
Units |
0,29 |
0,25 |
0,25 |
0,25 |
|
M/L term Debts Ratio |
Units |
0,19 |
0,19 |
0,21 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
5,73 |
6,91 |
n.c. |
1,16 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
25,06 |
15,90 |
25,22 |
1,57 |
|
Current ratio |
Units |
1,39 |
1,36 |
1,33 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
0,97 |
1,00 |
0,85 |
|
Structure's primary quotient |
Units |
8,33 |
3,90 |
4,66 |
0,96 |
|
Treasury's primary quotient |
Units |
0,01 |
0,06 |
0,03 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1043,85 |
1612,82 |
2137,99 |
743,68 |
|
Current Capital ( net ) |
Value |
1.089.238 |
863.607 |
629.684 |
70.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,71 |
3,07 |
0,98 |
1,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
44,13 |
41,59 |
31,98 |
6,68 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
79,68 |
94,59 |
100,32 |
19,39 |
|
Return on Investment ( R.O.I. ) |
% |
10,38 |
13,44 |
6,46 |
3,84 |
|
Return/ Sales |
% |
5,30 |
6,82 |
2,93 |
2,16 |
|
Extra Management revenues/charges incid. |
% |
40,75 |
19,19 |
23,16 |
28,56 |
|
Cash Flow |
Value |
283.868 |
201.369 |
55.891 |
48.046 |
|
Operating Profit |
Value |
405.603 |
447.378 |
166.423 |
59.910 |
|
Gross Operating Margin |
Value |
524.194 |
562.916 |
183.770 |
99.701 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
112,23 |
102,25 |
n.c. |
86,56 |
|
Debts to suppliers average term |
Days |
60,69 |
60,89 |
n.c. |
100,32 |
|
Average stock waiting period |
Days |
60,91 |
52,02 |
39,87 |
31,97 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,96 |
1,97 |
2,20 |
1,82 |
|
Rate of stock return |
Units |
5,91 |
6,92 |
9,03 |
11,18 |
|
Labour cost incidence |
% |
3,42 |
3,71 |
3,50 |
5,95 |
|
Net financial revenues/ charges incidence |
% |
-1,81 |
-3,91 |
-0,86 |
-0,81 |
|
Labour cost on purchasing expenses |
% |
3,59 |
3,98 |
3,60 |
5,95 |
|
Short-term financing charges |
% |
4,04 |
8,64 |
2,11 |
2,18 |
|
Capital on hand |
% |
51,08 |
50,75 |
45,37 |
54,67 |
|
Sales pro employee |
Value |
956.701 |
936.899 |
811.287 |
507.074 |
|
Labour cost pro employee |
Value |
32.671 |
34.742 |
28.430 |
32.650 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.25 |
|
UK Pound |
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
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.