MIRA
INFORM REPORT
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Report Date : |
07.08.2013 |
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Tel No.: |
390585847894 |
IDENTIFICATION DETAILS
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Name : |
GEO TRADING SRL |
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Registered Office : |
Via Carriona, 388, 54033- Carrara (MS) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
11.12.2000 |
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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 1 to 5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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, 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.
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Source
: CIA |
company name and address
GEO TRADING SRL
Via Carriona, 388,
54033- Carrara (MS),
Italy
Summary
|
Fiscal Code |
: |
01022040453 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
11/12/2000 |
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Equity |
: |
1.000.000 |
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Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Cutting and carving of stone and marble
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 01022040453 |
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Chamber of Commerce no. : 106675 of Massa since 11/12/2000 |
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V.A.T. Code : 01022040453 |
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Establishment date |
: 28/11/2000 |
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Start of Activities |
: 11/12/2000 |
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Legal duration |
: 31/12/2050 |
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Nominal Capital |
: 12.000 |
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Subscribed Capital |
: 12.000 |
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Paid up Capital |
: 12.000 |
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Members
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Vanelli |
Antonio |
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Born in Carrara |
(MS) |
on 16/09/1964 |
- Fiscal Code : VNLNTN64P16B832D |
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Residence: |
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Grosseto |
, 1 |
- 54033 |
Carrara |
(MS) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Sole Director |
30/09/2003 |
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No Prejudicial events are reported |
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No Protests registered |
Companies connected to members *
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
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Vanelli |
Antonio |
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Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
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Societa' Apuana Marmi S.r.l. In Sigla S.a.m. S.r.l. |
Carrara (MS) - IT - |
00297570459 |
Director |
Active |
Registered |
The indication "REGISTERED" as Firm Status could refer to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Vanelli Antonio |
Carrara - IT - |
VNLNTN64P16B832D |
11.400 .Eur |
95,00 |
|
Vanelli Matteo |
|
VNLMTT84P24B832H |
600 .Eur |
5,00 |
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 |
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Il Fiorino Holding S.r.l. |
Carrara - IT - |
01208870459 |
18.000 .Eur |
18,00 |
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|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
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- |
Legal and operative seat |
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Carriona |
, 388 |
- 54033 |
- Carrara |
(MS) |
- IT - |
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PHONE |
: 0585847894 |
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FAX |
: 0585846313 |
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Email |
: GEOTRADINGSRL@OPEN.LEGALMAIL.IT |
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Employees |
: 3 |
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Fittings and Equipment for a value of 68.000 |
Eur |
|
Stocks for a value of 190.000 |
Eur |
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
The company is active since 2000
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it achieved profits (r.o.e. 27,82% on 2012) with
a remarkable upward trend (+13,83% on 2012 compared to 2011 and +44,34% on 2011
compared to 2010).
The return on Investment in the last financial year was positive
(12,02%) and in line with the sector's average.
The operating result is positive and amounts to Eur. 349.974 with no
increase in relation to the financial year 2011.
The gross operating margin of the latest financial year is of Eur.
360.897 stable if compared to the financial year 2011.
The financial status of the company is fairly balanced with an
indebtedness level of 1,31 and decreasing as against 2011.
Subject can manage an equity capital funds for an amount of Eur. 768.082
, increasing by 38,54% if compared to the year before.
During the last financial year debts totalled Eur. 2.086.565 (Eur.
1.035.709 of which were m/l term debts) with no important change.
The recourse to bank credit is slightly high and also borrowings from
suppliers appear to be high, with an average payment period equal to 110,49 gg.
however still within the sector's average.
The available funds are good.
Trade credits average terms are slow, on average 139,59 days. within the
average values of the sector.
2012 financial year closed with a cash flow of Eur. 224.604
Labour cost expenses amount to Eur. 76.192 , representing 2,42% on the
total of production costs. , whereas 1,95% is the incidence on sales revenues.
If compared to the sales volume (-0,93%), the impact of the financial
charges is limited.
Financial Data
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Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
3.902.765 |
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Profit (Loss) for the period |
213.681 |
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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 |
3.428.573 |
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Profit (Loss) for the period |
193.014 |
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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 |
2.375.238 |
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Profit (Loss) for the period |
74.463 |
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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 |
1.773.269 |
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Profit (Loss) for the period |
63.695 |
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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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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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RATIOS |
Value Type |
as at 31/12/2012 |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
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COMPOSITION ON INVESTMENT |
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Rigidity Ratio |
Units |
0,37 |
0,42 |
0,54 |
0,29 |
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Elasticity Ratio |
Units |
0,63 |
0,58 |
0,46 |
0,69 |
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Availability of stock |
Units |
0,06 |
0,22 |
0,17 |
0,23 |
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Total Liquidity Ratio |
Units |
0,57 |
0,36 |
0,28 |
0,41 |
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Quick Ratio |
Units |
0,01 |
0,00 |
0,00 |
0,01 |
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COMPOSITION ON SOURCE |
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Net Short-term indebtedness |
Units |
1,31 |
1,83 |
1,93 |
1,78 |
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Self Financing Ratio |
Units |
0,26 |
0,20 |
0,16 |
0,27 |
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Capital protection Ratio |
Units |
0,71 |
0,63 |
0,76 |
0,69 |
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Liabilities consolidation quotient |
Units |
1,01 |
1,14 |
1,78 |
0,23 |
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Financing |
Units |
2,72 |
3,91 |
5,38 |
2,41 |
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Permanent Indebtedness Ratio |
Units |
0,63 |
0,63 |
0,69 |
0,46 |
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M/L term Debts Ratio |
Units |
0,36 |
0,42 |
0,54 |
0,13 |
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Net Financial Indebtedness Ratio |
Units |
1,37 |
2,68 |
3,92 |
0,98 |
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CORRELATION |
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Fixed assets ratio |
Units |
1,72 |
1,48 |
1,27 |
1,51 |
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Current ratio |
Units |
1,76 |
1,55 |
1,50 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,58 |
0,97 |
0,94 |
0,75 |
|
Structure's primary quotient |
Units |
0,72 |
0,48 |
0,28 |
0,83 |
|
Treasury's primary quotient |
Units |
0,04 |
0,00 |
0,01 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
379,20 |
496,40 |
644,44 |
366,48 |
|
Current Capital ( net ) |
Value |
798.410 |
564.470 |
355.034 |
233.017 |
|
RETURN |
|
|
|
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Return on Sales |
% |
5,75 |
6,15 |
4,09 |
3,37 |
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Return on Equity - Net- ( R.O.E. ) |
% |
27,82 |
34,81 |
20,60 |
3,34 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
41,81 |
54,09 |
36,01 |
11,22 |
|
Return on Investment ( R.O.I. ) |
% |
12,02 |
12,56 |
7,62 |
4,00 |
|
Return/ Sales |
% |
8,97 |
10,08 |
7,47 |
4,88 |
|
Extra Management revenues/charges incid. |
% |
61,06 |
55,83 |
41,96 |
19,82 |
|
Cash Flow |
Value |
224.604 |
210.798 |
97.255 |
65.183 |
|
Operating Profit |
Value |
349.974 |
345.719 |
177.441 |
108.595 |
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Gross Operating Margin |
Value |
360.897 |
363.503 |
200.233 |
167.146 |
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MANAGEMENT |
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|
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|
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Credits to clients average term |
Days |
139,59 |
88,51 |
72,94 |
131,41 |
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Debts to suppliers average term |
Days |
110,49 |
64,17 |
71,50 |
111,40 |
|
Average stock waiting period |
Days |
17,11 |
62,80 |
60,57 |
96,30 |
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Rate of capital employed return ( Turnover ) |
Units |
1,34 |
1,25 |
1,02 |
0,84 |
|
Rate of stock return |
Units |
21,04 |
5,73 |
5,94 |
3,72 |
|
Labour cost incidence |
% |
1,95 |
2,02 |
2,75 |
14,94 |
|
Net financial revenues/ charges incidence |
% |
-0,93 |
-1,34 |
-1,99 |
-2,29 |
|
Labour cost on purchasing expenses |
% |
2,42 |
2,11 |
3,02 |
14,35 |
|
Short-term financing charges |
% |
1,74 |
2,11 |
2,43 |
3,61 |
|
Capital on hand |
% |
74,63 |
80,27 |
98,05 |
118,11 |
|
Sales pro employee |
Value |
1.951.382 |
1.714.286 |
1.187.619 |
209.056 |
|
Labour cost pro employee |
Value |
38.096 |
34.615 |
32.716 |
33.287 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.53 |
|
|
1 |
Rs.94.37 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.