MIRA
INFORM REPORT
|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CAFFE' PASCUCCI
TORREFAZIONE S.P.A. |
|
|
|
|
Registered Office : |
Via Circonvallazione, 16/A, 61010 - Monte
Cerignone (PS) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.07.1992 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in Processing of coffee |
|
|
|
|
No of Employees : |
44 |
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 |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 higher. 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 133% of GDP in 2013, but investor
concerns about Italy and the broader euro-zone crisis eased in 2013, bringing
down Italy's borrowing costs on sovereign government debt from euro-era. The
government still faces pressure from investors and European partners to sustain
its efforts to address Italy's long-standing structural impediments to growth,
such as labor market inefficiencies and widespread tax evasion. In 2013
economic growth and labor market conditions deteriorated, with growth at -1.8%
and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's
GDP is now 8% below its 2007 pre-crisis level.
|
Source : CIA |
Company name & address
Caffe' Pascucci Torrefazione S.p.a.
Via Circonvallazione, 16/A
61010 - Monte Cerignone (PS) -IT-
Summary
|
Fiscal Code |
: |
01228510416 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
20/11/1992 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
44 |
Activity
Engaged in Processing of coffee
Legal Data
Legal Form : Joint stock company
|
Register of Handcraft firms : 44899 |
|
Register of Handcraft firms : 0044899 of
Pesaro since 19/11/1992 |
|
Fiscal Code : 01228510416 |
|
Chamber of Commerce no. : 553115 of Bari |
|
Chamber of Commerce no. : 174961 of Chieti |
|
Chamber of Commerce no. : 288606 of Foggia |
|
Chamber of Commerce no. : 197542 of Latina |
|
Chamber of Commerce no. : 116884 of Pesaro
since 06/08/1992 |
|
Chamber of Commerce no. : 280690 of Rimini |
|
Chamber of Commerce no. : 323499 of Rimini |
|
Chamber of Commerce no. : 70924 of Sondrio |
|
Firms' Register : PS067-3685 of Pesaro
since 19/02/1996 |
|
V.A.T. Code : 01228510416 |
|
Establishment date |
: 04/07/1992 |
|
|
Start of Activities |
: 20/11/1992 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.360.000 |
|
|
Subscribed Capital |
: 1.360.000 |
|
|
Paid up Capital |
: 1.360.000 |
|
Members
|
|
Pascucci |
Mario |
|
|
|
Born in Sassocorvaro |
(PS) |
on 05/01/1965 |
- Fiscal Code : PSCMRA65A05I459T |
|
|
|
Residence: |
|
Battelli |
, 27 |
- 61010 |
Monte Cerignone |
(PS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Assistant board Chairman |
25/07/2013 |
|
|
|
Director |
25/07/2013 |
|
|
|
|
Prejudicial
Events found with cancellations* |
Legal Mortgage - 19/01/2006. -
3.444 Euro. Event writing-off
|
|
MARCHERISCOSSIONI SPA |
|
|
No Protests
registered |
|
|
Pascucci |
Francesca |
|
|
|
Born in Sassocorvaro |
(PS) |
on 20/01/1969 |
- Fiscal Code : PSCFNC69A60I459Y |
|
|
|
Residence: |
|
A. Battelli |
, 27 |
- 61010 |
Monte Cerignone |
(PS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
25/07/2013 |
|
|
|
|
Pascucci |
Alberto |
|
|
|
Born in Monte Cerignone |
(PS) |
on 03/10/1933 |
- Fiscal Code : PSCLRT33R03F467W |
|
|
|
Residence: |
|
A. Battelli |
, 25 |
- 61010 |
Monte Cerignone |
(PS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
25/07/2013 |
|
|
|
Director |
25/07/2013 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
*Concerns also partially erased events.
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.
|
|
Pascucci |
Mario |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Coffee Partner S.r.l. |
Monte Cerignone (PS) - IT - |
00859780413 |
Assistant board
Chairman |
Active |
Registered |
|
Pascucci International Trading Srl |
Riccione (RN) - IT - |
03879900409 |
Sole Director |
Active |
Registered |
|
C.p.s. Bologna S.r.l. |
Monte Cerignone (PS) - IT - |
02120670415 |
Sole Director |
Withdrawn |
Registered |
|
Store S.r.l. |
Monte Cerignone (PS) - IT - |
02371960416 |
Sole Director |
Active |
Registered |
|
|
Pascucci |
Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
C.p.s. Rimini S.r.l. |
Rimini (RN) - IT - |
02679300406 |
Sole 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 |
|
Pascucci Mario |
Monte Cerignone - IT - |
PSCMRA65A05I459T |
952.000 .Eur |
70,00 |
|
Pascucci Francesca |
Monte Cerignone - IT - |
PSCFNC69A60I459Y |
204.000 .Eur |
15,00 |
|
Pascucci Alberto |
Monte Cerignone - IT - |
PSCLRT33R03F467W |
204.000 .Eur |
15,00 |
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 |
|
C.p.s. Rimini S.r.l. |
Rimini - IT - |
02679300406 |
5.000 .Eur |
50,00 |
|
|
Active |
|
Montefeltro Holding Company S.r.l. |
|
02533670416 |
1.200 .Eur |
2,90 |
|
|
Active |
|
Coffee Partner S.r.l. |
Monte Cerignone - IT - |
00859780413 |
19.604 .Eur |
58,00 |
|
|
Active |
|
Consorzio Riccione Turismo |
Riccione - IT - |
03585860400 |
|
|
|
|
Active |
|
Pascucci International Trading Srl |
Riccione - IT - |
03879900409 |
110.000 .Eur |
100,00 |
|
|
Active |
|
Store S.r.l. |
Monte Cerignone - IT - |
02371960416 |
104.200 .Eur |
98,30 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Circonvallazione |
, 16/A |
- 61010 |
- Monte Cerignone |
(PS) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/09/2012 |
|
|
|
|
|
|
Castel Del Monte |
, 192 |
- 70033 |
- Corato |
(BA) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 22/11/2011 |
|
|
|
|
|
|
Regina Margherita |
, 20 |
- 66010 |
- Villamagna |
(CH) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/03/2014 |
|
|
|
|
|
|
Di Salsola |
, 55 |
- 71100 |
- Foggia |
(FG) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/03/2014 |
|
|
|
|
|
|
Anxur |
, 90 |
- 04019 |
- Terracina |
(LT) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 21/01/2013 |
|
|
|
|
|
|
Renzo Pasolini |
, SN |
- 47046 |
- Misano Adriatico |
(RN) |
- IT - |
|
- |
Branch |
(Store) |
since 01/12/2011 |
|
|
|
|
|
|
Del Lavoro |
, 151/L |
- 23020 |
- Montagna in Valtellina |
(SO) |
- IT - |
|
|
|
|
Employees |
: 44 |
|
|
|
|
Family members |
: 3 |
|
|
|
|
Active partners |
: 3 |
|
Fittings and Equipment for a value of
990.000 |
Eur |
|
Stocks for a value of 1.260.000 |
Eur |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Tombini |
Maria Pia |
|
on 25/01/1939 |
- Fiscal Code : TMBMRP39A65F478H |
|
|
|
Residence: |
|
A. Battelli |
, 27 |
- 61010 |
Monte Cerignone |
(PS) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Pascucci |
Mario |
|
|
|
Born in Sassocorvaro |
(PS) |
on 05/01/1965 |
- Fiscal Code : PSCMRA65A05I459T |
|
|
|
Residence: |
|
Battelli |
, 27 |
- 61010 |
Monte Cerignone |
(PS) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Pascucci |
Francesca |
|
|
|
Born in Sassocorvaro |
(PS) |
on 20/01/1969 |
- Fiscal Code : PSCFNC69A60I459Y |
|
|
|
Residence: |
|
A. Battelli |
, 27 |
- 61010 |
Monte Cerignone |
(PS) |
- IT - |
|
Ex-Postions |
|
Partner |
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
Company's starting of activities dates back
to 1992.
The economic-financial analysis has been
made on the base of the b/s of the latest three years.
During the last years, it achieved profits
(r.o.e. 2,68% on 2012) with a good increase in turnover (+17,87% in 2012
compared to 2011 and +19,54% in 2011 compared to 2010).
The operating result was positive in the
last financial year (5,16%) and in line with the sector's average.
The amount of the operating result for the
year 2012 is of Eur. 699.692 increasing if compared to the year 2011.
The gross operating margin of the latest
financial year is of Eur. 1.344.147 showing a 21,46% growth.
Company's financial status is balanced since
indebtedness is not high (3,46) even though on the increase if compared to
2011.
It's shareholders funds amount to Eur. 2.529.013
on the same levels as the year before.
Total debts recorded amounted to Eur.
10.201.722 (Eur. 823.286 of which were m/l term debts) with no important
change.
Bank borrowings' volume is slightly high but
the recourse to suppliers' credit is modest which is also lower than the sector
average.
Payments are supported by good current
assets.
Due from customers average term is high and
equal to 139,05 days. and higher than the average of the sector.
As far as the cash flow is concerned during
the latest financial year it amounted to Eur. 712.264
In the last financial year labour cost was
of Eur. 1.422.226, with a 10,39% incidence on total costs of production. , with
a 10,52% incidence on turnover.
High incidence of financial charges on
turnover.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.522.660 |
|
Profit (Loss) for the period |
67.809 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.472.279 |
|
Profit (Loss) for the period |
56.045 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.596.430 |
|
Profit (Loss) for the period |
39.848 |
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 |
0,27 |
0,27 |
0,26 |
0,36 |
|
Elasticity Ratio |
Units |
0,70 |
0,68 |
0,70 |
0,58 |
|
Availability of stock |
Units |
0,09 |
0,10 |
0,09 |
0,12 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,59 |
0,61 |
0,42 |
|
Quick Ratio |
Units |
0,10 |
0,09 |
0,10 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
3,46 |
3,06 |
2,82 |
2,08 |
|
Self Financing Ratio |
Units |
0,19 |
0,20 |
0,22 |
0,22 |
|
Capital protection Ratio |
Units |
0,44 |
0,42 |
0,42 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,13 |
0,12 |
0,09 |
0,27 |
|
Financing |
Units |
4,03 |
3,58 |
3,29 |
3,08 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,28 |
0,28 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,08 |
0,06 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
2,05 |
1,61 |
1,41 |
0,69 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,03 |
1,04 |
1,07 |
1,16 |
|
Current ratio |
Units |
1,01 |
1,01 |
1,04 |
1,14 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,87 |
0,87 |
0,91 |
0,86 |
|
Structure's primary quotient |
Units |
0,70 |
0,75 |
0,83 |
0,68 |
|
Treasury's primary quotient |
Units |
0,14 |
0,13 |
0,15 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
536,09 |
490,17 |
463,14 |
438,55 |
|
Current Capital ( net ) |
Value |
68.349 |
105.243 |
300.325 |
177.800 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,27 |
5,77 |
5,19 |
4,57 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
2,68 |
2,28 |
1,66 |
4,28 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
10,12 |
9,61 |
9,40 |
11,42 |
|
Return on Investment ( R.O.I. ) |
% |
5,16 |
4,15 |
4,28 |
3,74 |
|
Return/ Sales |
% |
5,17 |
4,37 |
4,97 |
3,72 |
|
Extra Management revenues/charges incid. |
% |
9,69 |
11,19 |
8,36 |
25,24 |
|
Cash Flow |
Value |
712.264 |
661.870 |
498.313 |
140.498 |
|
Operating Profit |
Value |
699.692 |
500.831 |
476.505 |
117.422 |
|
Gross Operating Margin |
Value |
1.344.147 |
1.106.656 |
934.970 |
261.449 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
139,05 |
134,65 |
138,59 |
110,74 |
|
Debts to suppliers average term |
Days |
77,54 |
94,55 |
99,47 |
117,18 |
|
Average stock waiting period |
Days |
33,54 |
36,97 |
36,76 |
43,75 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,00 |
0,95 |
0,86 |
0,99 |
|
Rate of stock return |
Units |
10,73 |
9,74 |
9,79 |
8,23 |
|
Labour cost incidence |
% |
10,52 |
10,46 |
11,23 |
15,09 |
|
Net financial revenues/ charges incidence |
% |
-3,33 |
-2,67 |
-2,52 |
-1,50 |
|
Labour cost on purchasing expenses |
% |
10,39 |
10,65 |
11,55 |
14,79 |
|
Short-term financing charges |
% |
4,72 |
3,95 |
3,50 |
2,72 |
|
Capital on hand |
% |
100,26 |
105,16 |
116,08 |
100,97 |
|
Sales pro employee |
Value |
307.333 |
310.061 |
290.800 |
231.895 |
|
Labour cost pro employee |
Value |
32.323 |
32.444 |
32.651 |
32.825 |
Market / Territory Data
|
Population living in the province |
: |
1.518.780 |
|
Population living in the region |
: |
0 |
|
Number of families in the region |
: |
0 |
Monthly family expenses average in the
region (in .) :
|
- per food products |
: |
0 |
|
- per non food products |
: |
0 |
|
- per energy consume |
: |
0 |
Sector Data
The values are calculated on a base of 335
significant companies.
The companies cash their credits on an
average of 111 dd.
The average duration of suppliers debts is
about 117 dd.
The sector's profitability is on an average
of 4,57%.
The labour cost affects the turnover in the
measure of 15,09%.
Goods are held in stock in a range of 44 dd.
The difference between the sales volume and
the resources used to realize it is about 0,99.
The employees costs represent the 14,79% of
the production costs.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.85 |
|
UK Pound |
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.