|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOCIETA' ITALIANA MEDICINALI SCANDICCI
S.I.M.S. S.R.L. |
|
|
|
|
Registered Office : |
Via Dante Da Castiglione Loc. Filarone, 8 50100 – Firenze (FI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.12.1980 |
|
|
|
|
Com. Reg. No.: |
FI017-30820 of Firenze since 19/02/1996 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of pharmaceutical-based products |
|
|
|
|
No. of Employees : |
From 131 to 150 |
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 : |
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 – 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 |
|
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
Societa' Italiana Medicinali Scandicci S.i.m.s. S.r.l.
Via Dante Da Castiglione Loc. Filarone, 8
50100 – Firenze (FI) -IT-
|
Fiscal Code |
: |
03076410483 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
22/12/1980 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
18.000.000/20.000.000 |
|
Number of Employees |
: |
from 131 to 150 |
Manufacture of pharmaceutical-based products
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 03076410483 |
|
Foreign Trade Reg. no. : FI007711 since 18/12/1991 |
|
Foreign Trade Reg. no. : 7711 of Firenze since 18/12/1991 |
|
Chamber of Commerce no. : 298960 of Firenze since 11/11/1980 |
|
Firms' Register : FI017-30820 of Firenze since 19/02/1996 |
|
V.A.T. Code : 03076410483 |
|
Tribunal Co. Register : 30820 of |
|
Foundation date |
: 24/09/1980 |
|
|
Establishment date |
: 24/09/1980 |
|
|
Start of Activities |
: 22/12/1980 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 2.750.000 |
|
|
Subscribed Capital |
: 2.750.000 |
|
|
Paid up Capital |
: 2.750.000 |
|
|
|
Rangoni Finanziaria - S.p.A. |
|
|
|
|
|
|
: |
|
Dante Da Castiglione |
, 8 |
- 50100 |
Firenze |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Rangoni |
Niccolo' |
|
|
|
Born in Firenze |
(FI) |
on 19/01/1955 |
- Fiscal Code : RNGNCL55A19D612A |
|
|
|
Residence: |
|
Machiavelli |
, 21 |
- 50100 |
Firenze |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/08/2010 |
|
|
|
|
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.
|
|
Rangoni Finanziaria - S.p.A. |
|
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
WINGS SOCIETA' A RESPONSABILITA' LIMITATA |
Firenze (FI) - IT - |
01830210488 |
Sole partner |
Active |
Registered |
|
|
Rangoni |
Niccolo' |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Italhide S.p.a. |
Milano (MI) - IT - |
08839970152 |
Vice-Chairman |
Withdrawn |
Registered |
|
Italhide S.p.a. |
Milano (MI) - IT - |
08839970152 |
Director |
Active |
Registered |
|
Italhide S.p.a. |
Milano (MI) - IT - |
08839970152 |
Board Chairman |
Active |
Registered |
|
CALZATURIFICIO RANGONI - SOCIETA' A RESPONSABILITA' LIMITATA |
Firenze (FI) - IT - |
00431310481 |
Sole Director |
Withdrawn |
Registered |
|
Sims Trading - S.r.l. |
Firenze (FI) - IT - |
03680510488 |
Sole Director |
Active |
Registered |
|
Rangoni Finanziaria - S.p.A. |
Firenze (FI) - IT - |
00408950483 |
Sole Director |
Active |
Registered |
|
Rangoni Finanziaria - S.p.A. |
Firenze (FI) - IT - |
00408950483 |
Board Chairman |
Withdrawn |
Registered |
|
Consorzio Calzaturieri*florexpo |
Firenze (FI) - IT - |
03941140489 |
Chairman |
Withdrawn |
Registered |
|
Finhide S.r.l. |
Milano (MI) - IT - |
08898830156 |
Director |
Active |
Registered |
|
Finhide S.r.l. |
Milano (MI) - IT - |
08898830156 |
Board Chairman |
Active |
Registered |
|
Commerciale Industriale*patrizia -*s.a.c.i.p. Di Niccolo' Rangoni -
S.a.s. |
Firenze (FI) - IT - |
01337040487 |
General Partner |
Active |
Registered |
|
Immobiliare*agricola*le Falle Di Niccolo' Rangoni E C. - S.a.s. |
Firenze (FI) - IT - |
00688020486 |
General Partner |
Withdrawn |
Registered |
|
Immobiliare*agricola*le Falle Di Niccolo' Rangoni E C. - S.a.s. |
Firenze (FI) - IT - |
00688020486 |
Acting partner
(in work) |
Active |
Registered |
|
Miniere Di Fizzano Di Niccolo' Rangoni EC. S.a.s. |
Firenze (FI) - IT - |
01346530486 |
Partner |
Withdrawn |
Registered |
|
Miniere Di Fizzano Di Niccolo' Rangoni EC. S.a.s. |
Firenze (FI) - IT - |
01346530486 |
Acting partner
(in work) |
Active |
Registered |
|
Flo-export Consorzio |
Firenze (FI) - IT - |
06098690487 |
Board of
Directors' chairman |
Active |
Registered |
|
Freon S.r.l. |
Firenze (FI) - IT - |
06197110486 |
Sole Director |
Active |
Registered |
|
Amalfi S.r.l. |
Firenze (FI) - IT - |
06280870483 |
Managing
Director |
Active |
Registered |
|
Amalfi S.r.l. |
Firenze (FI) - IT - |
06280870483 |
Board Chairman |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Rangoni Finanziaria - S.p.A. |
Firenze - IT - |
00408950483 |
|
100,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Dante Da Castiglione Loc. Filarone |
, 8 |
- 50100 |
- Firenze |
(FI) |
- IT - |
|
|
|
|
PHONE |
: 055225544 |
|
|
|
|
PHONE |
: 055863051 |
|
|
|
|
PHONE |
: 055225511 |
|
|
|
|
FAX |
: 055863008 |
|
- |
Branch |
|
since 22/12/1980 |
|
|
|
|
|
- 50066 |
- Reggello |
(FI) |
- IT - |
|
|
|
|
PHONE |
: 055863051 |
|
|
|
|
Employees |
: 137 |
|
Fittings and Equipment for a value of 9.710.000 |
Eur |
|
Stocks for a value of 10.810.000 |
Eur |
|
Furniture and fittings for a value of 52.000 |
Eur |
|
Vehicles for a value of 77.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
The products distribution is carried out by distributors.
Transports are mainly done using own vehicles and third parties ones
The company sells mainly to wholesalers.
|
|
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
|
- its own agents |
|
- direct orders from foreign companies |
Subject generally proposes terms of sale between 30 and 60 days.
Financial means used for sale: bank transfers and bank orders.
Purchases are mainly paid with terms of 30/90 days.
Main used payment modalities are by cash orders and bank transfers.
Import comes generally from the following nations:
|
- Italy |
Export is mainly towards:
|
- France |
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Joint stock company |
Limited liability company |
13/10/1988 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
S.I.M.S. s.p.a. |
|
13/10/1988 |
|
|
Nidiaci |
Fabrizio |
|
|
|
Born in Firenze |
(FI) |
on 28/12/1938 |
- Fiscal Code : NDCFRZ38T28D612K |
|
Ex-Postions |
|
Attorney with special power |
|
|
Moschella |
Massimiliano |
|
|
|
Born in Firenze |
(FI) |
on 03/01/1934 |
- Fiscal Code : MSCMSM34A03D612Q |
|
Ex-Postions |
|
Attorney with special power |
|
|
Donatti |
Simone |
|
|
|
Born in Firenze |
(FI) |
on 19/06/1963 |
- Fiscal Code : DNTSMN63H19D612I |
|
|
|
Residence: |
|
Belvedere |
, 21 |
- 50014 |
Fiesole |
(FI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: |
|
|
|
Prejudicial Events found with cancellations* |
Legal Mortgage on 18/05/2010. for an amount of 36.822 Euro. Event
writing-off
|
EQUITALIA CERIT SPA |
Legal Mortgage on 23/11/2010. for an amount of 38.064 Euro. Event
writing-off
|
EQUITALIA CERIT SPA |
Search performed on a specialized data base.
*Concerns also partially erased events.
None reported, standing to the latest received edition of the Official
Publications.
Company's starting of activities dates back to 1980.
Balance sheets for the years 2009, 2010 and 2011 were analyzed.
During the last years the subject suffered net losses and in 2011 r.o.e.
is -2,13%.
The operating result is negative.
The operating loss is equal to Eur. -911.518.
The G.O.M. amounted to Eur. 977.158 showing a more then 100% growth.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,07
Subject can manage an equity capital funds for an amount of Eur.
34.207.940 , unchanged if compared to 2010.
In the year 2011 total debts amounted to Eur. 14.036.203 showing a
stable trend as opposed to 2010 (Eur. 14.955.119).
The financial exposure is moderate, on the other hand the recourse to
commercial credit is high, with a high average payment period even in
comparison with the sector's.
Liquid assets are good.
Due from customers average term is high and equal to 160,99 days. also
in relation to the average of the sector.
During financial year 2011 the cash flow amounted to Eur. 1.161.686
Subordinate employment cost is of Eur. 6.613.264, i.e. 32,5% on total
production costs. , with a 34,59% incidence on turnover.
Financial incomes cover financial charges.
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.118.004 |
|
Profit (Loss) for the period |
-726.990 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.191.773 |
|
Profit (Loss) for the period |
-1.162.670 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.240.275 |
|
Profit (Loss) for the period |
-1.065.446 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.288.345 |
|
Profit (Loss) for the period |
464.790 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.374.297 |
|
Profit (Loss) for the period |
724.420 |
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 |
|
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|
|
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 |
0,43 |
0,40 |
0,47 |
0,36 |
|
Elasticity Ratio |
Units |
0,56 |
0,60 |
0,53 |
0,71 |
|
Availability of stock |
Units |
0,21 |
0,20 |
0,18 |
0,10 |
|
Total Liquidity Ratio |
Units |
0,35 |
0,40 |
0,35 |
0,54 |
|
Quick Ratio |
Units |
0,18 |
0,28 |
0,22 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,07 |
n.c. |
n.c. |
1,36 |
|
Self Financing Ratio |
Units |
0,68 |
0,67 |
0,66 |
0,30 |
|
Capital protection Ratio |
Units |
0,94 |
0,96 |
0,95 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,42 |
0,60 |
0,70 |
0,17 |
|
Financing |
Units |
0,41 |
0,42 |
0,40 |
1,82 |
|
Permanent Indebtedness Ratio |
Units |
0,77 |
0,79 |
0,79 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,12 |
0,13 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,54 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,78 |
1,98 |
1,68 |
1,13 |
|
Current ratio |
Units |
2,54 |
2,97 |
2,90 |
1,27 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,58 |
2,00 |
1,92 |
0,87 |
|
Structure's primary quotient |
Units |
1,56 |
1,68 |
1,41 |
0,64 |
|
Treasury's primary quotient |
Units |
0,80 |
1,39 |
1,22 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
148,14 |
150,20 |
152,22 |
290,55 |
|
Current Capital ( net ) |
Value |
17.329.971 |
21.279.245 |
19.431.951 |
2.945.207 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
6,08 |
4,28 |
4,06 |
7,09 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-2,13 |
-3,26 |
-2,90 |
3,44 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-2,19 |
-3,61 |
-3,24 |
8,88 |
|
Return on Investment ( R.O.I. ) |
% |
-1,80 |
-3,65 |
-1,95 |
4,36 |
|
Return/ Sales |
% |
-4,77 |
-11,38 |
-5,67 |
4,62 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
40,92 |
|
Cash Flow |
Value |
1.161.686 |
735.055 |
780.474 |
2.671.250 |
|
Operating Profit |
Value |
-911.518 |
-1.956.060 |
-1.091.818 |
855.930 |
|
Gross Operating Margin |
Value |
977.158 |
-58.335 |
754.102 |
4.907.980 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
160,99 |
133,58 |
129,15 |
94,42 |
|
Debts to suppliers average term |
Days |
240,02 |
245,93 |
215,23 |
108,11 |
|
Average stock waiting period |
Days |
203,48 |
219,72 |
187,29 |
57,93 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,38 |
0,32 |
0,34 |
0,88 |
|
Rate of stock return |
Units |
1,77 |
1,64 |
1,92 |
6,30 |
|
Labour cost incidence |
% |
34,59 |
41,44 |
35,18 |
20,88 |
|
Net financial revenues/ charges incidence |
% |
0,89 |
0,60 |
-0,55 |
-1,41 |
|
Labour cost on purchasing expenses |
% |
32,50 |
35,12 |
33,40 |
17,99 |
|
Short-term financing charges |
% |
1,14 |
1,30 |
2,66 |
3,65 |
|
Capital on hand |
% |
265,06 |
311,33 |
291,13 |
90,65 |
|
Sales pro employee |
Value |
132.763 |
112.364 |
91.186 |
182.152 |
|
Labour cost pro employee |
Value |
45.925 |
46.563 |
32.082 |
38.993 |
|
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 788 significant companies.
The companies cash their credits on an average of 94 dd.
The average duration of suppliers debts is about 108 dd.
The sector's profitability is on an average of 7,09%.
The labour cost affects the turnover in the measure of 20,88%.
Goods are held in stock in a range of 58 dd.
The difference between the sales volume and the resources used to
realize it is about 0,88.
The employees costs represent the 17,99% of the production costs.
Statistically the trade activity shows trifling 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.59.68 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.68 |
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.