|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GORI TESSUTI E CASA - S.R.L. |
|
|
|
|
Registered Office : |
Via V. Emanuele, 9 50041 – Calenzano (FI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
31.10.1980 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of textiles |
|
|
|
|
No. of Employees : |
11 to 15 |
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 (31.03.2011) |
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,
highly subsidized, agricultural south, where unemployment is high. 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 its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 126%
of GDP in 2012, and investor concerns about the broader euro-zone crisis at
times have caused borrowing costs on sovereign government debt to rise to
euro-era. During the second half of 2011 the government passed three austerity
packages to reduce its budget deficit and help bring down borrowing costs.
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 sustain its recent efforts to address
Italy's long-standing structural impediments to growth, such as labor market
inefficiencies and widespread tax evasion. In 2012 economic growth and labor
market conditions deteriorated, with growth at -2.3% and unemployment rising to
nearly 11%, with youth unemployment around 35%. The government has undertaken
several reform iniatiatives designed to increase long-term economic growth.
Italy's GDP is now 7% below its 2007 pre-crisis level.
Source
: CIA
Gori Tessuti e Casa - S.r.l.
Via V. Emanuele, 9
50041 – Calenzano (FI) -IT-
|
Fiscal Code |
: |
03086090481 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
31/10/1980 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
2.000.000/2.250.000 |
|
Number of Employees |
: |
from 11 to 15 |
Wholesale of textiles
Retail sale of textiles for clothing, household furnishings and linens
Legal Form : Limited liability company
|
Fiscal Code : 03086090481 |
|
Foreign Trade Reg. no. : FI014014 since 20/12/1991 |
|
Foreign Trade Reg. no. : 955206 of |
|
Chamber of Commerce no. : 298863 of since 07/11/1980 |
|
V.A.T. Code : 03086090481 |
|
Tribunal Co. Register : 7050 of |
|
Foundation date |
: 31/10/1980 |
|
|
Establishment date |
: 31/10/1980 |
|
|
Start of Activities |
: 31/10/1980 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 1.548.000 |
|
|
Subscribed Capital |
: 1.548.000 |
|
|
Paid up Capital |
: 1.548.000 |
|
|
|
Gori |
Giuliano |
|
|
|
Born in Prato |
(FI) |
on 16/08/1930 |
- Fiscal Code : GROGLN30M16G999I |
|
|
|
Residence: |
|
Montalese |
, 7/A |
- 51100 |
Pistoia |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/12/2012 |
|
|
|
|
No Protests registered |
|
|
Gori |
Fabio |
|
|
|
Born in Prato |
(FI) |
on 09/12/1954 |
- Fiscal Code : GROFBA54T09G999B |
|
|
|
Residence: |
|
Dante |
, 9 |
- 50047 |
Prato |
(PO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
06/12/2012 |
|
|
|
Director |
06/12/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gori |
Paolo |
|
|
|
Born in Prato |
(FI) |
on 20/12/1961 |
- Fiscal Code : GROPLA61T20G999W |
|
|
|
Residence: |
|
Degli Ori |
, 2 |
- 50047 |
Prato |
(PO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/12/2012 |
|
|
|
Managing Director |
06/12/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Gori |
Fabio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Vivarte S.r.l. |
Prato (PO) - IT - |
01861410973 |
Sole Director |
Active |
Registered |
|
Finanziaria Gori Di Gori Giuliano E C. -S.a.s. |
Calenzano (FI) - IT - |
00756930483 |
Limited Partner |
Active |
Registered |
|
Amalasunta Di Gori Giuliano E C. S.a.s. |
Calenzano (FI) - IT - |
00800850489 |
Limited Partner |
Active |
Registered |
|
Gori Giuliano - S.a.s. |
Calenzano (FI) - IT - |
00965130370 |
Limited Partner |
Active |
Registered |
|
Immobiliare S. Agostino Di Gori GiulianoE C. - S.a.s. |
Calenzano (FI) - IT - |
80010340372 |
Limited Partner |
Active |
Registered |
|
Immobiliare*guernica Di Gori Giuliano EC. |
Calenzano (FI) - IT - |
01322580489 |
Limited Partner |
Active |
Registered |
|
Immobiliare Vittoria Di Silvestro Bardazzi E C. S.a.s. |
Prato (PO) - IT - |
03790510485 |
General Partner |
Active |
Registered |
|
Gori Lab S.r.l. |
Prato (PO) - IT - |
02237090978 |
Director |
Active |
Registered |
|
|
Gori |
Paolo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Gli Ori S.r.l. |
Pistoia (PT) - IT - |
01429500471 |
Director |
Active |
Registered |
|
Gli Ori S.r.l. |
Pistoia (PT) - IT - |
01429500471 |
Board Chairman |
Active |
Registered |
|
Finanziaria Gori Di Gori Giuliano E C. -S.a.s. |
Calenzano (FI) - IT - |
00756930483 |
Limited Partner |
Active |
Registered |
|
Amalasunta Di Gori Giuliano E C. S.a.s. |
Calenzano (FI) - IT - |
00800850489 |
Limited Partner |
Active |
Registered |
|
Gori Giuliano - S.a.s. |
Calenzano (FI) - IT - |
00965130370 |
Limited Partner |
Active |
Registered |
|
Immobiliare S. Agostino Di Gori GiulianoE C. - S.a.s. |
Calenzano (FI) - IT - |
80010340372 |
Limited Partner |
Active |
Registered |
|
Banca Interregionale S.p.a. |
Pistoia (PT) - IT - |
01553760479 |
Director |
Active |
Registered |
|
Banca Interregionale S.p.a. |
Pistoia (PT) - IT - |
01553760479 |
Memb.of the
Executive Committee |
Active |
Registered |
|
Immobiliare*guernica Di Gori Giuliano EC. |
Calenzano (FI) - IT - |
01322580489 |
Limited Partner |
Active |
Registered |
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Finanziaria Gori Di Gori Giuliano E C. - S.a.s. |
Calenzano - IT - |
00756930483 |
1.526.328 .Eur |
98,60 |
|
Gori Giuliano |
Pistoia - IT - |
GROGLN30M16G999I |
8.668 .Eur |
0,56 |
|
Gori Fabio |
Prato - IT - |
GROFBA54T09G999B |
6.501 .Eur |
0,42 |
|
Gori Paolo |
Prato - IT - |
GROPLA61T20G999W |
6.503 .Eur |
0,42 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Centergross - Centro Per Il Commercio Al l'ingrosso Di Bologna -
S.r.l. |
Argelato - IT - |
00542790373 |
9.344 .Eur |
0,18 |
|
|
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 31/10/1980 |
|
|
|
|
|
|
V. Emanuele |
, 9 |
- 50041 |
- Calenzano |
(FI) |
- IT - |
|
|
|
|
PHONE |
: 0558876321 |
|
|
|
|
Legal mail |
: GORITESSUTISPA@ARUBAPEC.IT |
|
- |
Branch |
(Warehouse) |
since 06/07/2005 |
|
|
|
|
|
|
Delle Calandre |
, 65/S |
- 50041 |
- Calenzano |
(FI) |
- IT - |
|
|
|
|
Employees |
: 13 |
|
Fittings and Equipment for a value of 1.610.000 |
Eur |
|
Stocks for a value of 3.270.000 |
Eur |
|
|
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
|
- its own agents |
|
- direct orders to foreign companies |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
|
- direct orders from foreign companies |
EX-MEMBERS / EX-POSITIONS:
|
|
Gori |
Giuliano |
|
|
|
Born in Firenze |
(FI) |
on 16/08/1930 |
- Fiscal Code : GROGLN30M16D612B |
|
Ex-Postions |
|
Chairman |
|
|
Taddei |
Giuseppina |
|
|
|
Born in Impruneta |
(FI) |
on 18/05/1931 |
- Fiscal Code : TDDGPP31E58E291D |
|
Ex-Postions |
|
Managing Director |
|
|
Gori |
Fabio |
|
|
|
Born in Prato |
(FI) |
on 19/12/1954 |
- Fiscal Code : GROFBA54T19G999C |
|
Ex-Postions |
|
Managing Director |
|
|
Gori |
Paolo |
|
|
|
Born in Prato |
(FI) |
on 21/12/1961 |
- Fiscal Code : GROPLA61T21G999V |
|
Ex-Postions |
|
Managing Director |
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.
Subject is active since 1980
The analysis is based on the latest 3 balance sheets.
During the last years, it achieved profits (r.o.e. 1,9% on 2011) but
without a significant increase in the turnover.
The operating result was positive in the last financial year (2,56%) and
in line with the sector's average.
An operating result of Eur. 204.845 has been registered. with a 75,57%
growth.
During the latest financial year the gross operating margin amounted to
Eur. 370.363 with a 25,72% increase as opposed to the preceding year.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,06)
Subject can manage an equity capital funds for an amount of Eur.
5.753.010 on the same levels as the year before.
Total indebtedness totalled Eur. 1.576.924, on the same levels as the
year before.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high even if it still falls within the sector's average.
Liquidity is good (3,39)
On average trade credits are collected in 76,51 days. , a higher value
if compared to the sector's average.
During financial year 2011 the cash flow amounted to Eur. 274.667
In the last financial year labour cost was of Eur. 525.950, with a 27,66%
incidence on total costs of production. , whereas 24,07% is the incidence on
sales revenues.
The incidence of the financial charges is of -0,09% on the sales amount.
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.185.384 |
|
Profit (Loss) for the period |
109.149 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.234.070 |
|
Profit (Loss) for the period |
74.754 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.857.048 |
|
Profit (Loss) for the period |
9.349 |
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 |
0,33 |
0,35 |
0,36 |
0,13 |
|
Elasticity Ratio |
Units |
0,67 |
0,65 |
0,64 |
0,86 |
|
Availability of stock |
Units |
0,41 |
0,44 |
0,46 |
0,43 |
|
Total Liquidity Ratio |
Units |
0,26 |
0,21 |
0,18 |
0,31 |
|
Quick Ratio |
Units |
0,15 |
0,11 |
0,07 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,06 |
n.c. |
0,05 |
3,98 |
|
Self Financing Ratio |
Units |
0,72 |
0,73 |
0,72 |
0,15 |
|
Capital protection Ratio |
Units |
0,71 |
0,71 |
0,72 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,17 |
2,45 |
2,42 |
0,18 |
|
Financing |
Units |
0,27 |
0,27 |
0,27 |
5,26 |
|
Permanent Indebtedness Ratio |
Units |
0,75 |
0,89 |
0,88 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,03 |
0,16 |
0,16 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,03 |
0,14 |
0,90 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,28 |
2,52 |
2,47 |
2,05 |
|
Current ratio |
Units |
3,39 |
9,94 |
9,84 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,31 |
3,22 |
2,78 |
0,51 |
|
Structure's primary quotient |
Units |
2,17 |
2,07 |
2,03 |
1,01 |
|
Treasury's primary quotient |
Units |
0,76 |
1,62 |
1,12 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
139,10 |
137,44 |
138,25 |
648,19 |
|
Current Capital ( net ) |
Value |
3.762.683 |
4.541.871 |
4.472.620 |
102.498 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
12,57 |
11,31 |
6,87 |
2,38 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,90 |
1,32 |
0,17 |
3,81 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
3,53 |
2,07 |
0,48 |
11,92 |
|
Return on Investment ( R.O.I. ) |
% |
2,56 |
1,49 |
-1,21 |
3,28 |
|
Return/ Sales |
% |
9,37 |
5,22 |
-5,06 |
3,01 |
|
Extra Management revenues/charges incid. |
% |
53,28 |
64,07 |
n.c. |
24,55 |
|
Cash Flow |
Value |
274.667 |
252.679 |
127.522 |
25.464 |
|
Operating Profit |
Value |
204.845 |
116.668 |
-94.018 |
32.755 |
|
Gross Operating Margin |
Value |
370.363 |
294.593 |
24.155 |
54.739 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
76,51 |
67,14 |
92,37 |
61,66 |
|
Debts to suppliers average term |
Days |
119,16 |
109,16 |
116,03 |
139,97 |
|
Average stock waiting period |
Days |
538,48 |
550,22 |
692,67 |
132,27 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,27 |
0,29 |
0,24 |
1,09 |
|
Rate of stock return |
Units |
0,67 |
0,65 |
0,52 |
2,67 |
|
Labour cost incidence |
% |
24,07 |
21,70 |
26,63 |
10,50 |
|
Net financial revenues/ charges incidence |
% |
-0,09 |
0,04 |
-0,62 |
-1,44 |
|
Labour cost on purchasing expenses |
% |
27,66 |
8,67 |
26,22 |
10,43 |
|
Short-term financing charges |
% |
1,26 |
1,12 |
1,72 |
2,33 |
|
Capital on hand |
% |
366,18 |
349,60 |
417,48 |
91,36 |
|
Sales pro employee |
Value |
136.586 |
186.172 |
123.803 |
286.155 |
|
Labour cost pro employee |
Value |
32.871 |
40.406 |
32.966 |
32.316 |
|
Population living in the province |
: |
965.388 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
The values are calculated on a base of 4.015 significant companies.
The companies cash their credits on an average of 62 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 2,38%.
The labour cost affects the turnover in the measure of 10,50%.
Goods are held in stock in a range of 132 dd.
The difference between the sales volume and the resources used to
realize it is about 1,09.
The employees costs represent the 10,43% of the production costs.
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 5.242.
The insolvency index for the region is 0,70, , while for the province it
is 0,55.
Total Bankrupt companies in the province : 6.520.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.