MIRA
INFORM REPORT
|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
BRIDA HIDES S.R.L. |
|
|
|
|
Registered Office : |
Via Iv Novembre, 28, 36071 – Arzignano (VI) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.03.2010 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Agents and representatives of raw textile fibres and semi-finished
goods, leather and skins |
|
|
|
|
No. of Employees : |
from 1 to 5 |
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 : |
Slow but correct |
|
|
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 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
BRIDA HIDES S.R.L.
Via Iv Novembre, 28
36071 – Arzignano (VI) -IT-
Summary
|
Fiscal Code |
: |
03609610245 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/04/2010 |
|
Equity |
: |
50.000 |
|
Turnover Range |
: |
500.000/750.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Agents and representatives of raw textile fibres and semi-finished
goods, leather and skins
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 03609610245 |
|
Chamber of Commerce no. : 339002 of Vicenza since 24/03/2010 |
|
V.A.T. Code : 03609610245 |
|
Establishment date |
: 12/03/2010 |
|
|
Start of Activities |
: 01/04/2010 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
|
Members
|
|
Ludovico |
Stefano |
|
|
|
Born in Bari |
(BA) |
on 11/03/1967 |
- Fiscal Code : LDVSFN67C11A662L |
|
|
|
Residence: |
|
Risorgimento |
, 1 |
- 37038 |
Soave |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
12/03/2010 |
|
|
|
Director |
12/03/2010 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gonzati |
Corrado |
|
|
|
Born in Montecchio Maggiore |
(VI) |
on 31/07/1975 |
- Fiscal Code : GNZCRD75L31F464S |
|
|
|
Residence: |
|
Capovilla |
, 30 |
- 36070 |
Castelgomberto |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
12/03/2010 |
|
|
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.
|
|
Ludovico |
Stefano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Pangea S.r.l. |
Montecchio Maggiore (VI) - IT - |
02896460249 |
Managing Director |
Withdrawn |
Registered |
|
Pangea S.r.l. |
Montecchio Maggiore (VI) - IT - |
02896460249 |
Director |
Withdrawn |
Registered |
The indication "REGISTERED" as Firm Status could refer to
Firms in Liquidation, Active, Inactive
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 |
|
Ludovico Stefano |
Soave - IT - |
LDVSFN67C11A662L |
4.500 .Eur |
45,00 |
|
Unione Fiduciaria S.p.a. Societa' Fiduci aria E Di Servizi Delle
Banche Popolari |
|
01513210151 |
4.500 .Eur |
45,00 |
|
Gonzati Corrado |
Castelgomberto - IT - |
GNZCRD75L31F464S |
1.000 .Eur |
10,00 |
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 |
|
|
|
|
|
|
|
Iv Novembre |
, 28 |
- 36071 |
- Arzignano |
(VI) |
- IT - |
|
|
|
|
Email |
: BRIDAHIDES@LEGALMAIL.IT |
|
- |
Branch |
(office) |
since 01/04/2010 |
|
|
|
|
|
|
Stazione |
, 56 |
- 36070 |
- Trissino |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0445497876 |
|
|
|
|
Employees |
: 3 |
|
Stocks for a value of 150.000 |
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 has been active for some years.
The economic-financial analysis has been made on the base of the b/s of the
latests three years.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 19,92% in 2012 thanks to a progressive increase in
turnover (+59,82% in 2012 compared to 2011 and +20,97% in 2011 compared to
2010).
The operating result in 2012 was positive (4,77%) and in line with the
sector's average.
The operating result is positive and amounts to Eur. 18.474 ,showing
stability in respect to the value of 2011.
The G.O.M. amounted to Eur. 22.399 ,with no change if compared to the
year before.
The financial position is not well balanced as the volume of debts is
fairly remarkable if compared to shareholder's equity, in fact total debts are
6,19 which is also improving if compared to the previous year.
With regard to equity capital, an amount of Eur. 46.054 is registered. ,
rising by 24,87%.
Eur. 333.936 is the amount of total debts, both commercial and of
different nature, , rising as opposed to the previous year (+more then 100%).
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited which is within the sector's average.
Payments are supported by good current assets.
Accounts receivable average term is 87,52 days. , more or less in line
with the average of the sector.
Eur. 13.100 is the value of cash flow during the year 2012
Subordinate employment cost is of Eur. 134.939, i.e. 13,19% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 19,29%.
Financial incomes cover financial charges.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
699.350 |
|
Profit (Loss) for the period |
9.175 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
437.571 |
|
Profit (Loss) for the period |
6.856 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
361.714 |
|
Profit (Loss) for the period |
20.023 |
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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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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|
PROFIT AND LOSS
ACCOUNTS
|
VALUE OF
PRODUCTION |
|
|
|
|
. Revenues from
sales and services |
699.350 |
437.571 |
361.716 |
|
. Changes in
work in progress |
|
|
|
|
. Changes in
semi-manufact. products |
|
|
|
|
. Capitalization
of internal work |
|
|
|
|
. Other income
and revenues |
342.401 |
|
|
|
. .
Contributions for operating expenses |
|
|
|
|
. . Different
income and revenues |
342.401 |
|
|
|
Total value of
production |
1.041.751 |
437.571 |
361.716 |
|
PRODUCTION COSTS |
|
|
|
|
. Raw material,other
materials and consum. |
810.444 |
14.368 |
123.892 |
|
. Services
received |
136.483 |
210.992 |
134.921 |
|
. Leases and
rentals |
8.735 |
8.526 |
5.228 |
|
. Payroll and
related costs |
134.939 |
81.660 |
69.457 |
|
. . Wages and
salaries |
43.612 |
20.064 |
17.800 |
|
. . Social
security contributions |
14.277 |
5.820 |
5.228 |
|
. . Employee
termination indemnities |
2.597 |
1.386 |
1.140 |
|
. . Pension and
similar |
|
|
|
|
. . Other costs |
74.453 |
54.390 |
45.289 |
|
. Amortization and
depreciation |
3.925 |
3.755 |
2.378 |
|
. . Amortization
of intangible fixed assets |
2.022 |
1.961 |
1.535 |
|
. . Amortization
of tangible fixed assets |
1.903 |
1.794 |
843 |
|
. . Depreciation
of tangible fixed assets |
|
|
|
|
. . Writedown of
current receiv.and of liquid |
|
|
|
|
. Changes in raw
materials |
-148.083 |
50.925 |
-50.925 |
|
. Provisions to
risk reserves |
|
|
|
|
. Other
provisions |
|
|
|
|
. Other
operating costs |
76.834 |
50.343 |
36.011 |
|
Total production
costs |
1.023.277 |
420.569 |
320.962 |
|
Diff. between
value and cost of product. |
18.474 |
17.002 |
40.754 |
|
FINANCIAL INCOME
AND EXPENSE |
|
|
|
|
. Income from
equity investments |
|
|
|
|
. . In
subsidiary companies |
|
|
|
|
. . In associated
companies |
|
|
|
|
. . In other
companies |
|
|
|
|
. Other
financial income |
36 |
47 |
39 |
|
. .
Financ.income from receivables |
|
|
|
|
. . . Towards
subsidiary companies |
|
|
|
|
. . . Towards
associated companies |
|
|
|
|
. . . Towards
holding companies |
|
|
|
|
. . . Towards
other companies |
|
|
|
|
. .
Financ.income from secur. t.f.assets |
|
|
|
|
. .
Financ.income from secur. cur.assets |
|
|
|
|
. .
Financ.income other than the above |
|
47 |
39 |
|
. . . - Subsidiary
companies |
|
|
|
|
. . . -
Associated companies |
|
|
|
|
. . . - Holding
companies |
|
|
|
|
. . . - Other
companies |
|
47 |
39 |
|
. Interest and
other financial expense |
446 |
917 |
-2.684 |
|
. . Towards
subsidiary companies |
|
|
|
|
. . Towards
associated companies |
|
|
|
|
. . Towards
holding companies |
|
|
|
|
. . Towards
other companies |
|
-917 |
2.684 |
|
Total financial
income and expense |
482 |
964 |
-2.645 |
|
ADJUSTMENTS TO
FINANCIAL ASSETS |
|
|
|
|
. Revaluations |
|
|
|
|
. . Of equity
investments |
|
|
|
|
. . Of
financ.fixed assets not repres.E.I. |
|
|
|
|
. . Of
securities incl.among current assets |
|
|
|
|
. Devaluation |
|
|
|
|
. . Of equity
investments |
|
|
|
|
. . Of financial
fixed assets (no equity inv) |
|
|
|
|
. . Of
securities included among current ass |
|
|
|
|
Total
adjustments to financial assets |
|
|
|
|
EXTRAORDINARY
INCOME AND EXPENSE |
|
|
|
|
. Extraordinary
income |
2.870 |
968 |
721 |
|
. . Gains on disposals |
|
|
|
|
. . Other
extraordinary income |
2.870 |
968 |
721 |
|
. Extraordinary
expense |
-28 |
-14 |
|
|
. . Losses on
disposals |
|
|
|
|
. . Taxes
relating to prior years |
|
|
|
|
. . Other
extraordinary expense |
-28 |
-14 |
|
|
Total extraordinary
income and expense |
2.842 |
954 |
721 |
|
Results before
income taxes |
21.798 |
18.920 |
38.830 |
|
. Taxes on
current income |
12.623 |
12.064 |
18.807 |
|
. . current
taxes |
12.623 |
12.064 |
18.807 |
|
. . differed
taxes(anticip.) |
|
|
|
|
. Net income for
the period |
9.175 |
6.856 |
20.023 |
|
. Adjustments in
tax regulations pursuance |
|
|
|
|
. Provisions in
tax regulations pursuance |
|
|
|
|
. Profit (loss)
of the year |
9.175 |
6.856 |
20.023 |
|
RATIOS |
Value Type |
as
at 31/12/2012 |
as
at 31/12/2011 |
as
at 31/12/2010 |
Sector
Average |
|
COMPOSITION ON INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,03 |
0,08 |
0,05 |
0,12 |
|
Elasticity Ratio |
Units |
0,97 |
0,91 |
0,94 |
0,86 |
|
Availability of stock |
Units |
0,38 |
n.c. |
0,15 |
0,12 |
|
Total Liquidity Ratio |
Units |
0,58 |
0,91 |
0,79 |
0,70 |
|
Quick Ratio |
Units |
0,13 |
0,35 |
0,21 |
0,05 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
6,19 |
2,41 |
7,88 |
3,66 |
|
Self Financing Ratio |
Units |
0,12 |
0,19 |
0,09 |
0,17 |
|
Capital protection Ratio |
Units |
0,58 |
0,54 |
0,00 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,01 |
n.c. |
n.c. |
0,09 |
|
Financing |
Units |
7,25 |
4,29 |
10,28 |
4,48 |
|
Permanent Indebtedness Ratio |
Units |
0,13 |
0,19 |
0,09 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,01 |
n.c. |
n.c. |
0,05 |
|
Net Financial Indebtedness Ratio |
Units |
0,05 |
n.c. |
n.c. |
0,32 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
4,46 |
2,48 |
1,75 |
1,99 |
|
Current ratio |
Units |
1,12 |
1,13 |
1,04 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,68 |
1,13 |
0,88 |
1,00 |
|
Structure's primary quotient |
Units |
4,22 |
2,48 |
1,75 |
1,32 |
|
Treasury's primary quotient |
Units |
0,15 |
0,44 |
0,23 |
0,08 |
|
Rate of indebtedness ( Leverage ) |
% |
840,30 |
528,81 |
1135,43 |
568,12 |
|
Current Capital ( net ) |
Value |
40.299 |
19.927 |
13.136 |
100.720 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,87 |
2,42 |
6,19 |
1,95 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
19,92 |
18,59 |
66,70 |
5,66 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
47,33 |
51,30 |
129,34 |
15,26 |
|
Return on Investment ( R.O.I. ) |
% |
4,77 |
8,72 |
11,96 |
3,60 |
|
Return/ Sales |
% |
2,64 |
3,89 |
11,27 |
2,71 |
|
Extra Management revenues/charges incid. |
% |
49,66 |
40,32 |
49,13 |
34,41 |
|
Cash Flow |
Value |
13.100 |
10.611 |
22.401 |
50.638 |
|
Operating Profit |
Value |
18.474 |
17.002 |
40.754 |
59.288 |
|
Gross Operating Margin |
Value |
22.399 |
20.757 |
43.132 |
102.719 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
87,52 |
n.c. |
n.c. |
98,72 |
|
Debts to suppliers average term |
Days |
87,64 |
n.c. |
n.c. |
102,13 |
|
Average stock waiting period |
Days |
76,23 |
n.c. |
50,68 |
27,12 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,81 |
2,24 |
1,06 |
1,52 |
|
Rate of stock return |
Units |
4,72 |
n.c. |
7,10 |
13,27 |
|
Labour cost incidence |
% |
19,29 |
18,66 |
19,20 |
5,89 |
|
Net financial revenues/ charges incidence |
% |
0,07 |
0,22 |
-0,73 |
-0,45 |
|
Labour cost on purchasing expenses |
% |
13,19 |
19,42 |
21,64 |
6,11 |
|
Short-term financing charges |
% |
n.c. |
n.c. |
0,87 |
1,92 |
|
Capital on hand |
% |
55,34 |
44,57 |
94,24 |
65,89 |
|
Sales pro employee |
Value |
174.837 |
218.785 |
180.857 |
508.894 |
|
Labour cost pro employee |
Value |
33.734 |
40.830 |
34.728 |
34.393 |
Remarks
1) Protests checking (relative to the last five years) performed by
crossing and matching the members names and the Firm's Style with the reported addresses,
is supplied by the Informatic Registry managed by the Italian Chamber of
Commerce. If the fiscal code is not indicated, the eventual homonymous cases
are submitted to expert staff evaluation in order to limit wrong matching
risks.
2) The Legal Data, supplied and retrived from the Firm's Registry of the
Italian Chamber of Commerce, are in line with the last registered
modifications.
3) Risk evaluation and Credit Opinion have been performed on the base of
the actual data at the moment of their availability.
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
831.356Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a base of 1.824 significant companies.
The companies cash their credits on an average of 99 dd.
The average duration of suppliers debts is about 102 dd.
The sector's profitability is on an average of 1,95%.
The labour cost affects the turnover in the measure of 5,89%.
Goods are held in stock in a range of 27 dd.
The difference between the sales volume and the resources used to
realize it is about 1,52.
The employees costs represent the 6,11% of the production costs.
Statistical Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.