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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
ARNABOLDI ANGELO S.R.L. |
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Registered Office : |
Via Parigi, 30 20038 – Seregno (MB) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.12.1973 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Cutting and carving of stone and marble |
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No. of Employees : |
From 11 to 15 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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
Arnaboldi Angelo
S.r.l.
Via Parigi, 30
20038 – Seregno (MB) -IT-
|
Fiscal Code |
: |
00371790155 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
17/12/1973 |
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Equity |
: |
2.500.000 |
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Turnover Range |
: |
2.000.000/2.250.000 |
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Number of Employees |
: |
from 11 to 15 |
Cutting and carving of stone and marble
Legal Form : Limited liability company
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Fiscal Code : 00371790155 |
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Chamber of Commerce no. : 871893 of since 20/07/2007 |
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Chamber of Commerce no. : 871893 of since 23/01/1974 |
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V.A.T. Code : 00682670963 |
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Start of Activities |
: 17/12/1973 |
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Legal duration |
: 31/12/2030 |
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Nominal Capital |
: 100.000 |
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Subscribed Capital |
: 100.000 |
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Paid up Capital |
: 100.000 |
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Arnaboldi |
Alberto |
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Born in Cantu' |
(CO) |
on 07/04/1949 |
- Fiscal Code : RNBLRT49D07B639L |
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Residence: |
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Cattaneo C. |
, 0028 |
- 22063 |
Cantu' |
(CO) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Director |
01/04/2009 |
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No Prejudicial events are reported |
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No Protests registered |
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Valli |
Maria |
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Born in Carate Brianza |
(MB) |
on 09/04/1954 |
- Fiscal Code : VLLMRA54D49B729F |
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Residence: |
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Cervino |
, 12 |
- 22063 |
Cantu' |
(CO) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
|
Director |
01/04/2009 |
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No Prejudicial events are reported |
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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 |
|
Arnaboldi Alberto |
Cantu' - IT - |
RNBLRT49D07B639L |
50.000 .Eur |
50,00 |
|
Valli Maria |
Cantu' - IT - |
VLLMRA54D49B729F |
30.000 .Eur |
30,00 |
|
Arnaboldi Benedetta |
|
RNBBDT84D50F205D |
10.000 .Eur |
10,00 |
|
Arnaboldi Andrea |
|
RNBNDR87T27F205K |
10.000 .Eur |
10,00 |
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 |
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Parigi |
, 30 |
- 20038 |
- Seregno |
(MB) |
- IT - |
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PHONE |
: 0362246708 |
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FAX |
: 0362325277 |
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Employees |
: 13 |
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Fittings and Equipment for a value of 650.000 |
Eur |
|
Stocks for a value of 1.040.000 |
Eur |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
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Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
Subject is active since 1973
An eco-fin analysis has been made on the base od the b/s fo the years
2009, 2010 and 2011.
Under the financial profile unstable results are noted. yet with a
positive result in the 2011 (r.o.e. 0,19%). The turnover is growing in the last
financial year (+52,39%).
The operating result was positive in the last financial year (2,04%)
falling within the field's average.
The amount of the operating result for the year 2011 is of Eur. 91.612
increasing if compared to the yeart 2010.
The gross operating margin of the latest financial year is of Eur. 247.758
with a more then 100% growth.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,43) but slighlty increasing.
The equity capital is equal to Eur. 2.328.562 , unchanged if compared to
2010.
During the last financial year total debts volume reached Eur. 1.938.615
(Eur. 938.119 were m/l term ones) , with no sensible variation.
Financial debts exposure is under control while the recourse to
commercial credit is rather frequent but lined up with the field's average.
It shows a good range of liquidity.
Accounts receivable average term is 64,15 days. , shorter than the
sector's average.
2011 financial year closed with a cash flow of Eur. 160.489
Subordinate employment cost is of Eur. 608.053, i.e. 31,31% on total production
costs. , whereas 30,39% is the incidence on sales revenues.
The financial management is marked by a high incidence of financial
charges in relation to sales revenues (-3,17%).
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Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
2.000.674 |
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Profit (Loss) for the period |
4.343 |
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Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
1.312.804 |
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Profit (Loss) for the period |
-194.406 |
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Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
1.489.399 |
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Profit (Loss) for the period |
-105.890 |
BALANCE SHEETS
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
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- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
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- 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 |
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COMPOSITION ON
INVESTMENT |
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Rigidity Ratio |
Units |
0,65 |
0,70 |
0,70 |
0,29 |
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Elasticity Ratio |
Units |
0,34 |
0,29 |
0,29 |
0,69 |
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Availability of stock |
Units |
0,23 |
0,25 |
0,25 |
0,23 |
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Total Liquidity Ratio |
Units |
0,11 |
0,04 |
0,04 |
0,41 |
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Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,01 |
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COMPOSITION ON
SOURCE |
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|
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Net Short-term indebtedness |
Units |
0,43 |
0,35 |
0,29 |
1,78 |
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Self Financing Ratio |
Units |
0,52 |
0,53 |
0,56 |
0,27 |
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Capital protection Ratio |
Units |
0,96 |
1,04 |
1,00 |
0,69 |
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Liabilities consolidation quotient |
Units |
1,10 |
1,39 |
1,58 |
0,23 |
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Financing |
Units |
0,83 |
0,78 |
0,70 |
2,41 |
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Permanent Indebtedness Ratio |
Units |
0,76 |
0,80 |
0,82 |
0,46 |
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M/L term Debts Ratio |
Units |
0,24 |
0,26 |
0,26 |
0,13 |
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Net Financial Indebtedness Ratio |
Units |
0,58 |
n.c. |
n.c. |
0,98 |
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CORRELATION |
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Fixed assets ratio |
Units |
1,17 |
1,14 |
1,17 |
1,51 |
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Current ratio |
Units |
1,55 |
1,55 |
1,77 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,50 |
0,23 |
0,27 |
0,75 |
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Structure's primary quotient |
Units |
0,79 |
0,76 |
0,80 |
0,83 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
193,03 |
186,98 |
177,10 |
366,48 |
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Current Capital ( net ) |
Value |
546.529 |
448.439 |
559.822 |
233.017 |
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RETURN |
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|
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Return on Sales |
% |
8,02 |
-2,54 |
3,28 |
3,37 |
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Return on Equity - Net- ( R.O.E. ) |
% |
0,19 |
-8,36 |
-4,20 |
3,34 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1,21 |
-10,05 |
-5,88 |
11,22 |
|
Return on Investment ( R.O.I. ) |
% |
2,04 |
-4,01 |
-1,61 |
4,00 |
|
Return/ Sales |
% |
4,58 |
-13,27 |
-4,83 |
4,88 |
|
Extra Management revenues/charges incid. |
% |
4,74 |
n.c. |
n.c. |
19,82 |
|
Cash Flow |
Value |
160.489 |
-33.307 |
48.860 |
65.183 |
|
Operating Profit |
Value |
91.612 |
-174.263 |
-71.967 |
108.595 |
|
Gross Operating Margin |
Value |
247.758 |
-13.164 |
82.783 |
167.146 |
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MANAGEMENT |
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|
|
|
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Credits to clients average term |
Days |
64,15 |
n.c. |
n.c. |
131,41 |
|
Debts to suppliers average term |
Days |
123,94 |
n.c. |
n.c. |
111,40 |
|
Average stock waiting period |
Days |
187,74 |
296,91 |
264,20 |
96,30 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,45 |
0,30 |
0,33 |
0,84 |
|
Rate of stock return |
Units |
1,92 |
1,21 |
1,36 |
3,72 |
|
Labour cost incidence |
% |
30,39 |
47,11 |
40,78 |
14,94 |
|
Net financial revenues/ charges incidence |
% |
-3,17 |
-4,62 |
-5,17 |
-2,29 |
|
Labour cost on purchasing expenses |
% |
31,31 |
39,48 |
37,71 |
14,35 |
|
Short-term financing charges |
% |
3,30 |
3,34 |
4,37 |
3,61 |
|
Capital on hand |
% |
224,66 |
331,03 |
299,49 |
118,11 |
|
Sales pro employee |
Value |
105.298 |
69.094 |
82.744 |
209.056 |
|
Labour cost pro employee |
Value |
32.002 |
32.553 |
33.739 |
33.287 |
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).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.82 |
|
|
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.