|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MED INT - SOCIETA A RESPONSABILITA LIM ITATA |
|
|
|
|
Registered Office : |
Viale Dei Caduti Per La Resistenza, 183 00128 - Roma (RM) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
31.10.2002 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale of frozen, deep-frozen, conserved o dried fished products |
|
|
|
|
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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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 |
MED INT - SOCIETA' A RESPONSABILITA' LIM ITATA
Viale Dei Caduti Per La Resistenza, 183
00128 - Roma (RM) -IT-
|
Fiscal Code |
: |
07257481007 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
31/10/2002 |
|
Equity |
: |
1.000.000 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 1 to 5 |
Wholesale of frozen, deep-frozen, conserved o dried fished products
Non-specialised wholesale of deep-frozen products
Legal Form : Limited liability company
|
Fiscal Code : 07257481007 |
|
Chamber of Commerce no. : 1022060 of Roma since 20/11/2002 |
|
V.A.T. Code : 07257481007 |
|
Establishment date |
: 31/10/2002 |
|
|
Start of Activities |
: 31/10/2002 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 70.700 |
|
|
Subscribed Capital |
: 70.700 |
|
|
Paid up Capital |
: 70.700 |
|
|
Faricelli |
Valerio |
|
|
Born in Roma |
(RM) |
on 04/05/1979 |
- Fiscal Code : FRCVLR79E04H501L |
|
|
Residence: |
|
Pad. G.a. Filippini |
, 11 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
Prejudicial events registered |
Judicial Mortgage - Mod.60 - 12/07/2006.
|
· CAPITALIA SERVICE J. V SRL |
|
No Protests registered |
|
Faricelli |
Mario |
|
|
Born in Riva del Garda |
(TN) |
on 05/08/1946 |
- Fiscal Code : FRCMRA46M05H330P |
|
|
Residence: |
|
P. Antonio Filippini |
, 11 |
- 00144 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
16/09/2011 |
|
|
|
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 |
|
Faricelli Valerio |
Roma - IT - |
FRCVLR79E04H501L |
45.570 .Eur |
64,45 |
|
Faricelli Marco |
Roma - IT - |
FRCMRC82T23H501R |
3.500 .Eur |
4,95 |
|
Faricelli Mario |
Roma - IT - |
FRCMRA46M05H330P |
21.630 .Eur |
30,59 |
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 |
|
|
|
|
|
|
|
Dei Caduti Per La Resistenza |
, 183 |
- 00100 |
- Roma |
(RM) |
- IT - |
|
|
|
|
Employees |
: 4 |
|
Fittings and Equipment for a value of 2.000 |
Eur |
|
Stocks for a value of 2.050.000 |
Eur |
|
|
EX-MEMBERS / EX-POSITIONS:
|
Faricelli |
Valerio |
|
|
Born in Roma |
(RM) |
on 04/05/1979 |
- Fiscal Code : FRCVLR79E04H501L |
|
|
Residence: |
|
Pad. G.a. Filippini |
, 11 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Partner |
|
Project of merging by taking over of |
|
|
|
Med International Company - Societa' A Responsabilita' Limitata |
|
|
|
DEI CADUTI PER LA RESISTENZA |
, 183 |
, 00100 |
, Roma |
(RM) |
- IT - |
|
|
Fiscal Code: 04819941008 |
|
|
Date |
Merging/splitting-up project: |
09/11/2011 |
|
The firm absorbed by merging of |
|
|
|
Med International Company - Societa' A Responsabilita' Limitata |
|
|
|
DEI CADUTI PER LA RESISTENZA |
, 183 |
, 00100 |
, Roma |
(RM) |
- IT - |
|
|
Fiscal Code: 04819941008 |
|
|
Date |
: |
20/12/2011 |
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.
Company's starting of activities dates back to 2002.
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 44,97% in 2013 thanks to a progressive increase in turnover (+24,24% in 2013 compared to 2012 and +26,02% in 2012 compared to 2011).
The operating result was positive in the last financial year (10,48%) and in line with the sector's average.
The operating result is positive and amounts to Eur. 722.053 increasing if compared to the yeart 2012.
The gross operating margin of the latest financial year is of Eur. 796.088 with a 96,4% growth.
The ratio between shareholder's equity and borrowed capital is not well balanced, the indebtedness level is equal to 4,88 falling if compared to 2012.
Subject can manage an equity capital funds for an amount of Eur. 937.770 , increasing by 81,72% if compared to the year before.
In the year 2013 total debts amounted to Eur. 5.863.196 , showing an upward trend if compared to 2012.
Bank borrowings' volume is slightly high but it modestly dips into suppliers credit, 69,66 gg. is the payments' average time 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 120,03 days. and higher than the average of the sector.
The financial management generated a cash flow of Eur. 495.766.
In the last financial year labour cost was of Eur. 235.367, with a 2,09% incidence on total costs of production. , whereas the incidence on sales revenues is of 1,96%.
Limited financial charges in relation to sales volume.
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.983.916 |
|
Profit (Loss) for the period |
421.731 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.645.443 |
|
Profit (Loss) for the period |
141.546 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.653.611 |
|
Profit (Loss) for the period |
165.277 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.558.299 |
|
Profit (Loss) for the period |
85.831 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.679.015 |
|
Profit (Loss) for the period |
38.544 |
From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,00 |
0,01 |
0,01 |
0,13 |
|
Elasticity Ratio |
Units |
1,00 |
0,99 |
0,99 |
0,85 |
|
Availability of stock |
Units |
0,30 |
0,29 |
0,33 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,70 |
0,70 |
0,66 |
0,62 |
|
Quick Ratio |
Units |
0,09 |
0,06 |
0,01 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
4,88 |
6,87 |
7,38 |
5,02 |
|
Self Financing Ratio |
Units |
0,14 |
0,10 |
0,10 |
0,13 |
|
Capital protection Ratio |
Units |
0,47 |
0,59 |
0,37 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,21 |
0,27 |
0,10 |
|
Financing |
Units |
6,25 |
8,79 |
9,19 |
6,17 |
|
Permanent Indebtedness Ratio |
Units |
0,25 |
0,26 |
0,29 |
0,25 |
|
M/L term Debts Ratio |
Units |
0,11 |
0,16 |
0,19 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,95 |
n.c. |
5,73 |
1,16 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
110,20 |
40,07 |
25,06 |
1,57 |
|
Current ratio |
Units |
1,33 |
1,34 |
1,39 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
0,95 |
0,93 |
0,85 |
|
Structure's primary quotient |
Units |
61,04 |
15,56 |
8,33 |
0,96 |
|
Treasury's primary quotient |
Units |
0,12 |
0,08 |
0,01 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
734,70 |
1000,01 |
1043,85 |
743,68 |
|
Current Capital ( net ) |
Value |
1.698.477 |
1.304.631 |
1.089.238 |
70.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,14 |
2,30 |
3,71 |
1,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
44,97 |
27,43 |
44,13 |
6,68 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
69,83 |
47,94 |
79,68 |
19,39 |
|
Return on Investment ( R.O.I. ) |
% |
10,48 |
6,30 |
10,38 |
3,84 |
|
Return/ Sales |
% |
6,03 |
3,37 |
5,30 |
2,16 |
|
Extra Management revenues/charges incid. |
% |
58,41 |
43,56 |
40,75 |
28,56 |
|
Cash Flow |
Value |
495.766 |
221.960 |
283.868 |
48.046 |
|
Operating Profit |
Value |
722.053 |
324.912 |
405.603 |
59.910 |
|
Gross Operating Margin |
Value |
796.088 |
405.326 |
524.194 |
99.701 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
120,03 |
n.c. |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.