|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
Mode S.R.L. Unipersonale |
|
|
|
|
Registered Office : |
Strada Fratte, 1250 63019 – Sant’Elpidio a Mare (FM) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
27.09.2007 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Footwear and Accessories |
|
|
|
|
No. of Employees : |
From 1 to 5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – 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,
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 |
|
Mode s.r.l. Unipersonale |
|
Strada |
Fratte, |
1250 |
|
63019 |
- Sant'Elpidio a Mare |
(FM) |
-IT- |
|
Fiscal Code |
: |
01941100446 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
01/10/2007 |
|
Equity |
: |
65.000 |
|
Turnover Range |
: |
1.250.000/1.500.000 |
|
Number of Employees |
: |
from 1 to 5 |
Wholesale of footwear and accessories
Retail sale of footwear and leather goods in
specialised stores
Legal Form : Sole-Member Limited Liability
Company
|
Fiscal Code : 01941100446 |
|
Chamber of Commerce no. : 185924 of since
05/10/2007 |
|
Chamber of Commerce no. : 185924 of since
27/02/2009 |
|
V.A.T. Code : 01941100446 |
|
Establishment date |
: 27/09/2007 |
|
Start of Activities |
: 01/10/2007 |
|
Legal duration |
: 31/12/2030 |
|
Nominal Capital |
: 10.000 |
|
Subscribed Capital |
: 10.000 |
|
Paid up Capital |
: 10.000 |
|
Tomassini |
Alessandro |
|
Born in Montefiore dell'Aso |
(AP) |
on 23/10/1964 |
- Fiscal Code : TMSLSN64R23F501Y |
|
Residence: |
|
Fratte |
, 1250 |
- 63019 |
Sant'elpidio A Mare |
(AP) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
28/06/2010 |
|
|
|
No Prejudicial events are
reported |
|
|
No Protests registered |
|
|
Camerlengo |
Pamela |
|
|
Born in Montegranaro |
(AP) |
on 03/08/1967 |
- Fiscal Code : CMRPML67M43F522P |
|
|
Residence: |
|
Fratte |
, 1250 |
- 63019 |
Sant'elpidio A Mare |
(AP) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
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 |
|
Camerlengo Pamela |
Sant'elpidio A Mare - IT - |
CMRPML67M43F522P |
|
100,00 |
The Company under review has participations
in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Chic Societa' A Responsabilita' Limitat a |
Sant'Elpidio a Mare - IT - |
02061770448 |
5.000 .Eur |
50,00 |
|
|
Active |
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
|
|
Fratte |
, 1250 |
- 63019 |
- Sant'Elpidio a Mare |
(FM) |
- IT - |
|
|
|
|
Assistants |
: 1 |
|
|
|
|
Active partners |
: 1 |
|
Fittings and Equipment for a value of 3.000
|
Eur |
|
Stocks for a value of 53.000 |
Eur |
EX-MEMBERS / EX-POSITIONS:
|
Camerlengo |
Pamela |
|
Born in Montegranaro |
(AP) |
on 03/08/1967 |
- Fiscal Code : CMRPML67M43F522P |
|
Residence: |
|
Fratte |
, 1250 |
- 63019 |
Sant'elpidio A Mare |
(AP) |
- IT - |
|
Ex-Postions |
|
Sole 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.
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.296.487 |
|
Profit (Loss) for the period |
39.317 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.353.373 |
|
Profit (Loss) for the period |
12.213 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
610.004 |
|
Profit (Loss) for the period |
2.341 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
71.040 |
|
Profit (Loss) for the period |
-2.072 |
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at
31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at
31/12/2009 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at
31/12/2008 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2010 |
as at 31/12/2009 |
as at 31/12/2008 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,16 |
0,03 |
0,05 |
0,13 |
|
Elasticity Ratio |
Units |
0,84 |
0,97 |
0,94 |
0,85 |
|
Availability of stock |
Units |
0,11 |
0,10 |
0,35 |
0,54 |
|
Total Liquidity Ratio |
Units |
0,72 |
0,87 |
0,59 |
0,22 |
|
Quick Ratio |
Units |
0,11 |
0,04 |
0,18 |
0,04 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,79 |
12,89 |
21,94 |
4,36 |
|
Self Financing Ratio |
Units |
0,13 |
0,05 |
0,03 |
0,14 |
|
Capital protection Ratio |
Units |
0,20 |
0,01 |
-0,20 |
0,56 |
|
Liabilities consolidation quotient |
Units |
1,00 |
0,37 |
0,26 |
0,15 |
|
Financing |
Units |
6,67 |
18,67 |
36,02 |
5,86 |
|
Permanent Indebtedness Ratio |
Units |
0,57 |
0,31 |
0,23 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,44 |
0,26 |
0,20 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
3,11 |
4,28 |
0,87 |
0,98 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
3,59 |
10,57 |
4,47 |
2,02 |
|
Current ratio |
Units |
1,92 |
1,39 |
1,22 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,67 |
1,25 |
0,76 |
0,36 |
|
Structure's primary quotient |
Units |
0,83 |
1,75 |
0,53 |
1,06 |
|
Treasury's primary quotient |
Units |
0,26 |
0,06 |
0,23 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
766,81 |
1967,32 |
3706,60 |
707,22 |
|
Current Capital ( net ) |
Value |
190.183 |
120.474 |
65.707 |
61.776 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,97 |
1,45 |
2,17 |
2,62 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
63,62 |
54,32 |
22,80 |
6,19 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
107,65 |
128,31 |
58,15 |
15,72 |
|
Return on Investment ( R.O.I. ) |
% |
17,10 |
10,13 |
3,26 |
3,25 |
|
Return/ Sales |
% |
6,25 |
1,90 |
2,03 |
2,94 |
|
Extra Management revenues/charges incid. |
% |
48,51 |
27,27 |
18,88 |
31,16 |
|
Cash Flow |
Value |
64.426 |
34.044 |
13.225 |
20.178 |
|
Operating Profit |
Value |
81.049 |
44.787 |
12.401 |
23.558 |
|
Gross Operating Margin |
Value |
106.158 |
66.618 |
23.285 |
40.605 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
80,30 |
56,06 |
92,10 |
26,46 |
|
Debts to suppliers average term |
Days |
39,88 |
43,22 |
129,02 |
152,76 |
|
Average stock waiting period |
Days |
14,67 |
6,68 |
79,63 |
158,60 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,74 |
5,32 |
1,60 |
1,10 |
|
Rate of stock return |
Units |
24,54 |
53,90 |
4,52 |
2,21 |
|
Labour cost incidence |
% |
n.c. |
n.c. |
n.c. |
10,29 |
|
Net financial revenues/ charges incidence |
% |
-1,12 |
-0,62 |
-1,05 |
-1,31 |
|
Labour cost on purchasing expenses |
% |
n.c. |
n.c. |
n.c. |
10,25 |
|
Short-term financing charges |
% |
3,72 |
3,47 |
1,74 |
2,10 |
|
Capital on hand |
% |
36,55 |
18,79 |
62,40 |
90,76 |
|
Sales pro employee |
Value |
|
|
|
267.102 |
|
Labour cost pro employee |
Value |
|
|
|
30.754 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.