MIRA
INFORM REPORT
|
Report Date : |
26.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
EG S.P.A. |
|
|
|
|
Registered Office : |
Via Scarlatti, 31, 20100 - Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.06.1999 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Wholesale of pharmaceutical goods |
|
|
|
|
No. of Employees : |
from 51 to 70 |
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 : |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Itlay - 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 and address
EG S.P.A.
Via Scarlatti, 31,
20100 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
12432150154 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
15/06/1999 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
100.000.000/150.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Wholesale of pharmaceutical goods
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 12432150154 |
|
Chamber of Commerce no. : 1557340 of Milano since 08/05/1998 |
|
Firms' Register : MI-1998-113233 of Milano since 06/05/1998 |
|
V.A.T. Code : 12432150154 |
|
Establishment date |
: 19/03/1998 |
|
|
Start of Activities |
: 15/06/1999 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 4.500.000 |
|
|
Subscribed Capital |
: 4.500.000 |
|
|
Paid up Capital |
: 4.500.000 |
|
Members
|
|
Brandes |
Stefan Ulf |
|
|
|
Born in Amburgo |
( ) |
on 22/12/1967 |
- Fiscal Code : BRNSFN67T22Z112Z |
|
|
|
Residence: |
|
Turati Filippo |
, 29 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2011 |
|
|
|
|
Balbo Di Vinadio |
Ippolito |
|
|
|
Born in Genova |
(GE) |
on 09/06/1957 |
- Fiscal Code : BLBPLT57H09D969C |
|
|
|
Residence: |
|
Verona |
, 18/TER |
- 13900 |
Biella |
(BI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
06/11/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Hausermann |
Enrique |
|
|
|
Born in Barcellona |
( ) |
on 31/12/1945 |
- Fiscal Code : HSRNRQ45T31Z131J |
|
|
|
Residence: |
|
San Sisto |
, 8 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2011 |
|
|
|
Managing Director |
28/04/2011 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Slegers |
Luc Maurice Godelieva |
|
|
|
Born in Mol |
( ) |
on 21/06/1953 |
- Fiscal Code : SLGLMR53H21Z103V |
|
|
|
Residence: |
Wielewaallaan |
, 40 |
Grimbergen |
- BE - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2011 |
|
|
|
Board Chairman |
28/04/2011 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pianezza |
Paolo Antonio Alfonso |
|
|
|
Born in Milano |
(MI) |
on 13/06/1952 |
- Fiscal Code : PNZPNT52H13F205A |
|
|
|
Residence: |
|
Aurelio Saffi |
, 9 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/04/2011 |
|
|
|
|
No Prejudicial events are reported |
|
|
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.
|
|
Hausermann |
Enrique |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Crinos S.p.a. |
Milano (MI) - IT - |
03481280968 |
Managing Director |
Active |
Registered |
|
Crinos S.p.a. |
Milano (MI) - IT - |
03481280968 |
Director |
Active |
Registered |
|
Asgenia S.r.l. |
Roma (RM) - IT - |
12457321003 |
Director |
Active |
Registered |
|
Asgenia S.r.l. |
Roma (RM) - IT - |
12457321003 |
Board Chairman |
Active |
Registered |
|
|
Slegers |
Luc Maurice Godelieva |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Crinos S.p.a. |
Milano (MI) - IT - |
03481280968 |
Director |
Active |
Registered |
|
Crinos S.p.a. |
Milano (MI) - IT - |
03481280968 |
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.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Stada Arzneimittel Ag |
|
97213070150 |
4.449.000 .Eur |
98,86 |
|
Bepha Beteiligungsgesellschaft Fur Pharm awerth |
|
97213060151 |
51.000 .Eur |
1,14 |
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 |
|
|
|
|
|
|
|
Scarlatti |
, 31 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02831037 |
|
- |
Branch |
|
since 25/02/2002 |
|
|
|
|
|
|
Pavia |
, 6 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
Employees |
: 59 |
|
Fittings and Equipment for a value of 59.000 |
Eur |
|
Stocks for a value of 26.340.000 |
Eur |
|
|
Historical Information and/or
Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
|
|
NPA NEW PHARMAJANI S.P.A.BREVE |
|
|
|
PAVIA |
, 6 |
, 20136 |
, MILANO |
(MI) |
- IT - |
|
|
|
Fiscal Code: 03757690965 |
|
|
|
Date |
Merging/splitting-up project: |
24/10/2005 |
|
|
The firm absorbed by merging of |
|
|
|
|
|
|
|
|
PAVIA |
, 6 |
, 20136 |
, MILANO |
(MI) |
- IT - |
|
|
|
Fiscal Code: 03757690965 |
|
|
|
Date |
: |
13/01/2006 |
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 1999
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it achieved profits (r.o.e. 33,94% on 2012) with a remarkable upward trend (+13,08% on 2012 compared to 2011 and +14,08% on 2011 compared to 2010).
The operating result in 2012 was positive (23,01%) and even better than sector's average.
The amount of the operating result for the year 2012 is of Eur. 23.527.921 increasing if compared to the yeart 2011.
A gross operating margine for a value of Eur. 28.064.775 was reached. showing an upward trend if compared to 2011.
Company's financial status is balanced since indebtedness is not high (1,1) with an improving trend as on the decrease.
It's shareholders funds amount to Eur. 46.005.990 , with an upward trend.
Total indebtedness totalled Eur. 52.432.437, , with no sensible variation.
Moderate recourse to bank credit while the exposure towards suppliers is rather high anyway better than the field's average.
It shows a good range of liquidity.
Due from customers average term is high and equal to 140,87 days. besides being higher than the sector's average.
During financial year 2012 the cash flow amounted to Eur. 17.500.554
During 2012 financial year labour costs amounted to Eur. 4.872.125, with a 4,69% incidence on production costs. , with a 3,99% incidence on turnover.
The financial management has a limited economic impact, equal to -0,85% on the sales.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
121.962.770 |
|
Profit (Loss) for the period |
15.612.431 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
107.853.856 |
|
Profit (Loss) for the period |
10.997.851 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
94.536.909 |
|
Profit (Loss) for the period |
11.159.131 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.631.538 |
|
Profit (Loss) for the period |
3.717.926 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
78.000.670 |
|
Profit (Loss) for the period |
4.592.138 |
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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|
|
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 |
0,10 |
0,14 |
0,15 |
0,09 |
|
Elasticity Ratio |
Units |
0,89 |
0,86 |
0,84 |
0,89 |
|
Availability of stock |
Units |
0,26 |
0,30 |
0,24 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,63 |
0,56 |
0,61 |
0,54 |
|
Quick Ratio |
Units |
0,02 |
0,03 |
0,06 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,10 |
1,62 |
1,40 |
3,95 |
|
Self Financing Ratio |
Units |
0,45 |
0,36 |
0,39 |
0,17 |
|
Capital protection Ratio |
Units |
0,56 |
0,49 |
0,54 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,01 |
0,10 |
|
Financing |
Units |
1,14 |
1,71 |
1,55 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,46 |
0,36 |
0,39 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,04 |
0,19 |
0,28 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
4,50 |
2,70 |
2,68 |
2,37 |
|
Current ratio |
Units |
1,74 |
1,40 |
1,41 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,24 |
0,91 |
1,02 |
0,80 |
|
Structure's primary quotient |
Units |
4,45 |
2,65 |
2,64 |
1,48 |
|
Treasury's primary quotient |
Units |
0,04 |
0,05 |
0,10 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
222,27 |
279,81 |
259,73 |
602,26 |
|
Current Capital ( net ) |
Value |
38.775.929 |
20.726.727 |
22.050.244 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
14,35 |
13,59 |
15,25 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
33,94 |
36,18 |
32,44 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
50,05 |
54,64 |
48,54 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
23,01 |
20,68 |
19,94 |
4,18 |
|
Return/ Sales |
% |
19,29 |
16,31 |
18,84 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
66,36 |
62,53 |
62,66 |
27,96 |
|
Cash Flow |
Value |
17.500.554 |
14.656.031 |
14.416.739 |
44.823 |
|
Operating Profit |
Value |
23.527.921 |
17.587.716 |
17.810.319 |
74.603 |
|
Gross Operating Margin |
Value |
28.064.775 |
22.681.381 |
21.848.083 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
140,87 |
131,89 |
116,58 |
113,70 |
|
Debts to suppliers average term |
Days |
92,29 |
174,62 |
80,98 |
118,14 |
|
Average stock waiting period |
Days |
77,75 |
84,23 |
80,13 |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,19 |
1,27 |
1,06 |
1,25 |
|
Rate of stock return |
Units |
4,63 |
4,27 |
4,49 |
4,88 |
|
Labour cost incidence |
% |
3,99 |
4,64 |
4,75 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-0,85 |
-0,89 |
-1,19 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
4,69 |
5,49 |
5,80 |
8,25 |
|
Short-term financing charges |
% |
2,00 |
1,94 |
2,14 |
2,76 |
|
Capital on hand |
% |
83,84 |
78,85 |
94,50 |
79,85 |
|
Sales pro employee |
Value |
2.067.165 |
1.925.961 |
1.890.738 |
397.742 |
|
Labour cost pro employee |
Value |
82.578 |
89.340 |
89.757 |
33.267 |
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 |
: |
|
Monthly 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 9.175 significant companies.
The companies cash their credits on an average of 114 dd.
The average duration of suppliers debts is about 118 dd.
The sector's profitability is on an average of 2,03%.
The labour cost affects the turnover in the measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and the resources used to realize it is about 1,25.
The employees costs represent the 8,25% of the production costs.
Statistical Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province they count to 24.765.
The insolvency index for the region is 0,55, , while for the province it is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.58 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.70 |
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.