MIRA INFORM REPORT
|
Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAVAAL INTERNATIONAL S.P.A. |
|
|
|
|
Registered Office : |
Via Dell' Arco, 9, 64100- Teramo (TE) |
|
|
|
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Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.12.2011 |
|
|
|
|
Legal Form : |
Joint Stock Company |
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|
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Line of Business : |
Manufacturer of structural metal products |
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|
|
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No. of Employees : |
36 to 50 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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|
|
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Payment Behaviour : |
Unknown |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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, 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 initiatives designed
to increase long-term economic growth. Italy's GDP is now 7% below its 2007
pre-crisis level.
|
Source : CIA |
Company name & address
Lavaal International S.p.A.
Via Dell' Arco, 9
64100 - Teramo (TE) -IT-
Summary
|
Fiscal Code |
: |
01816910671 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
19/05/2012 |
|
Number of Employees |
: |
36 to 50 employees |
Activity
Manufacture of structural metal
products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 01816910671 |
|
Chamber of Commerce no. : 155568 of since
23/12/2011 |
|
V.A.T. Code : 01816910671 |
|
Establishment date |
: 16/12/2011 |
|
|
Start of Activities |
: 19/05/2012 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 600.000 |
|
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Subscribed Capital |
: 600.000 |
|
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Paid up Capital |
: 600.000 |
|
Members
|
|
Baeza Martin |
Fernando Jose |
|
|
|
Born in Saragozza |
( ) |
on 21/09/1962 |
- Fiscal Code : BZMFNN62P21Z131B |
|
|
|
Residence: |
|
Del Progresso |
, SNC |
- 64023 |
Mosciano Sant'Angelo |
(TE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/2011 |
|
|
|
Board Chairman |
16/12/2011 |
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|
|
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No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Bayahi |
Yahia |
|
|
|
Born in Tunisi |
( ) |
on 26/10/1955 |
- Fiscal Code : BYHYHA55R26Z352L |
|
|
|
Residence: |
|
Del Progresso |
, SNC |
- 64023 |
Mosciano Sant'Angelo |
(TE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/2011 |
|
|
|
|
No Protests
registered |
|
|
Issmail |
Ali |
|
|
|
Born in Tunisi |
( ) |
on 02/10/1959 |
- Fiscal Code : SSMLAI59R02Z352P |
|
|
|
Residence: |
|
Del Progresso |
, SNC |
- 64023 |
Mosciano Sant'Angelo |
(TE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/2011 |
|
|
|
|
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 |
|
Lavaal Iberica S.a. |
|
91042580679 |
150.000 .Eur |
25,00 |
|
Tunisie Profiles Aluminium S.a. |
|
91042570670 |
450.000 .Eur |
75,00 |
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 |
|
Get Export |
Teramo - IT - |
00943000679 |
|
|
|
|
Active |
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Registered
office |
|
|
|
|
|
|
Dell' Arco |
, 9 |
- 64100 |
- Teramo |
(TE) |
- IT - |
|
- |
Operative seat |
since 16/01/2012 |
|
|
|
|
|
|
Via Del Progresso |
, 2 |
- 64023 |
- Mosciano Sant'Angelo |
(TE) |
- IT - |
|
|
|
|
Employees |
: 38 |
|
|
Historical Information and/or
Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
The subj. took
over by rent the activities of |
|
|
|
|
|
|
|
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Del Progresso |
, 64023 |
, Mosciano Sant'Angelo |
(TE) |
- IT - |
|
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Fiscal Code: 00204800676 |
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|
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Date |
: |
10/01/2012 |
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 Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
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 |
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RATIOS |
Value
Type |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
Rigidity Ratio |
Units |
0,01 |
0,20 |
|
Elasticity Ratio |
Units |
0,25 |
0,77 |
|
Availability of stock |
Units |
n.c. |
0,15 |
|
Total Liquidity Ratio |
Units |
0,25 |
0,55 |
|
Quick Ratio |
Units |
0,25 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
4,09 |
|
Self Financing Ratio |
Units |
0,99 |
0,15 |
|
Capital protection Ratio |
Units |
0,00 |
0,63 |
|
Liabilities consolidation quotient |
Units |
n.c. |
0,16 |
|
Financing |
Units |
0,01 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,99 |
0,31 |
|
M/L term Debts Ratio |
Units |
n.c. |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
1,01 |
|
CORRELATION |
|
|
|
|
Fixed assets ratio |
Units |
80,20 |
1,34 |
|
Current ratio |
Units |
20,05 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
20,05 |
0,85 |
|
Structure's primary quotient |
Units |
80,20 |
0,75 |
|
Treasury's primary quotient |
Units |
20,05 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
101,25 |
660,68 |
|
Current Capital ( net ) |
Value |
142.519 |
80.037 |
|
RETURN |
|
|
|
|
Return on Sales (R.O.S.) |
% |
n.c. |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,00 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
0,00 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
0,00 |
4,91 |
|
Return/ Sales |
% |
n.c. |
4,60 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
26,08 |
|
Cash Flow |
Value |
|
67.440 |
|
Operating Profit |
Value |
|
88.577 |
|
Gross Operating Margin |
Value |
|
150.352 |
|
MANAGEMENT |
|
|
|
|
Credits to clients average term |
Days |
n.c. |
126,77 |
|
Debts to suppliers average term |
Days |
n.c. |
141,48 |
|
Average stock waiting period |
Days |
n.c. |
45,00 |
|
Rate of capital employed return ( Turnover
) |
Units |
n.c. |
1,12 |
|
Rate of stock return |
Units |
n.c. |
7,83 |
|
Labour cost incidence |
% |
n.c. |
20,16 |
|
Net financial revenues/charges incidence |
% |
n.c. |
-1,63 |
|
Labour cost on purchasing expenses |
% |
n.c. |
20,64 |
|
Short-term financing charges |
% |
n.c. |
2,63 |
|
Capital on hand |
% |
n.c. |
89,16 |
|
Sales pro employee |
Value |
|
163.688 |
|
Labour cost pro employee |
Value |
|
32.486 |
Market / Territory Data
|
Population living in the province |
: |
296.063 |
|
Population living in the region |
: |
1.299.272 |
|
Number of families in the region |
: |
479.313 |
Monthly family expenses average
in the region (in Eur..) :
|
- per food products |
: |
448 |
|
- per non food products |
: |
1.525 |
|
- per energy consume |
: |
106 |
Sector Data
The values are calculated on a
base of 3.053 significant companies.
The companies cash their credits
on an average of 127 dd.
The average duration of
suppliers debts is about 141 dd.
The sector's profitability is on
an average of 3,45%.
The labour cost affects the
turnover in the measure of 20,16%.
Goods are held in stock in a
range of 45 dd.
The difference between the sales
volume and the resources used to realize it is about 1,12.
The employees costs represent
the 20,64% of the production costs.
Statistical Detrimental Data
Statistically the trade activity
shows periods of crisis.
The area is statistically
considered remarkably risky.
In the region 11.587 protested
subjects are found; in the province they count to 3.368.
The insolvency index for the
region is 0,90, , while for the province it is 1,15.
Total Bankrupt companies in the
province : 1.327.
Total Bankrupt companies in the
region : 5.123.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
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.