MIRA
INFORM REPORT
|
Report Date : |
29.08.2014 |
\
IDENTIFICATION DETAILS
|
Name : |
ARBI DARIO S.P.A. |
|
|
|
|
Registered Office : |
Via Dott. Salvatore Giovannol, 131-135 51015 -
Monsummano Terme (PT) -IT- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.02.1989 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
·
Processing and preserving of fish, crustaceans
and molluscs ·
Manufacture of pre-prepared meals |
|
|
|
|
No. of Employees |
from 26 to 35 |
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 : |
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 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 |
Company name and address
ARBI DARIO S.P.A.
Via Dott. Salvatore Giovannol, 131-135
51015 - Monsummano
Terme (PT) -IT-
Summary
|
Fiscal Code |
: |
01064720475 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
08/02/1989 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
|
|
|
n.b.: The Creditworthness Rate shows, in percentage, the ratio between
the suggested credit opinion and the credit amount that the firm could get if
the financial situation would be completely positive. |
Activity
Processing and preserving of fish, crustaceans and molluscs
Manufacture of pre-prepared meals
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 01064720475 |
|
Foreign Trade Reg. no. : PT003507 since 24/12/1991 |
|
Foreign Trade Reg. no. : 3507 of Pistoia since 24/12/1991 |
|
Foreign Trade Reg. no. : 003507 of Pistoia since 24/12/1991 |
|
Chamber of Commerce no. : 115726 of Pistoia since 23/11/1988 |
|
Firms' Register : PT014-11480 of Pistoia since 19/02/1996 |
|
V.A.T. Code : 01064720475 |
|
Tribunal Co. Register : 11480 of |
|
Foundation date |
: 19/10/1988 |
|
|
Establishment date |
: 19/10/1988 |
|
|
Start of Activities |
: 08/02/1989 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.340.000 |
|
|
Subscribed Capital |
: 2.340.000 |
|
|
Paid up Capital |
: 2.340.000 |
|
Members
|
|
Arbi |
Stefano |
|
|
|
Born in Monsummano Terme |
(PT) |
on 21/12/1958 |
- Fiscal Code : RBASFN58T21F384Q |
|
|
|
Residence: |
|
Pablo Picasso |
, 700/I |
- 51015 |
Monsummano Terme |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
16/07/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
King S.p.a. |
|
|
|
|
|
|
Residence: |
|
E. Curiel |
, 40 |
- 51015 |
Monsummano Terme |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pricewaterhousecoopers S.p.a. In Breve |
Pwc |
|
|
|
|
|
Residence: |
|
Monte Rosa |
, 91 |
- 20149 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditor |
31/07/2012 |
|
|
|
|
Arbi |
Maurizio |
|
|
|
Born in Monsummano Terme |
(PT) |
on 21/03/1964 |
- Fiscal Code : RBAMRZ64C21F384G |
|
|
|
Residence: |
|
Pablo Picasso |
, 490 |
- 51015 |
Monsummano Terme |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Assistant board Chairman |
16/07/2012 |
|
|
|
|
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.
|
|
Arbi |
Stefano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Arbi Gelmarket S.a.s. Di Arbi Stefano EC. |
Monsummano Terme (PT) - IT - |
00480960475 |
General Partner |
Active |
Registered |
|
|
Arbi |
Maurizio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Arbi Gelmarket S.a.s. Di Arbi Stefano EC. |
Monsummano Terme (PT) - IT - |
00480960475 |
Limited Partner |
Active |
Registered |
|
Futura S.r.l. |
Pistoia (PT) - IT - |
00930150479 |
Director |
Active |
Registered |
|
Eurotrade S.r.l. |
Serravalle Pistoiese (PT) - IT - |
01198910471 |
Sole Director |
- |
Ceased |
|
Euro Brokers Srl |
Monsummano Terme (PT) - IT - |
01266830478 |
Liquidator |
Withdrawn |
Registered |
|
Euro Brokers Srl |
Monsummano Terme (PT) - IT - |
01266830478 |
Sole partner |
Withdrawn |
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 |
|
Arbi Stefano |
Monsummano Terme - IT - |
RBASFN58T21F384Q |
46.800 .Eur |
2,00 |
|
King S.p.a. |
Monsummano Terme - IT - |
00885810473 |
2.246.400 .Eur |
96,00 |
|
Arbi Maurizio |
Monsummano Terme - IT - |
RBAMRZ64C21F384G |
46.800 .Eur |
2,00 |
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 |
|
MAREALTO S.R.L. |
PALIANO - IT - |
02287990606 |
6.120 .Eur |
51,00 |
|
|
Active |
|
Consorzio Ittico Di Sviluppo - Societa' Consortile P.a. |
Monteriggioni - IT - |
01162680522 |
10.000 .Eur |
8,33 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Dott. Salvatore Giovannol |
, 131-135 |
- 51015 |
- Monsummano Terme |
(PT) |
- IT - |
|
|
|
|
PHONE |
: 057282821 |
|
|
|
|
Employees |
: 35 |
|
Fittings and Equipment for a value of 710.000 |
Eur |
|
Stocks for a value of 13.220.000 |
Eur |
|
Vehicles for a value of 26.000 |
Eur |
Trade organization: direct or by agents.
Sales converge to North and Central Italy.
|
|
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
|
- distributors |
|
- direct orders to foreign companies |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- national or foreign important buyers |
Import comes generally from the following nations:
|
- Belgium |
|
- Great Britain |
|
- Spain |
|
- Germany |
|
- France |
|
- Holland |
|
- Italy |
|
- Austria |
Export is mainly towards:
|
- Spain |
|
- Germany |
|
- Great Britain |
|
- Belgium |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
07/11/2000 |
EX-MEMBERS / EX-POSITIONS:
|
|
Arbi |
Stefano |
|
|
|
Born in Monsummano Terme |
(PT) |
on 21/12/1958 |
- Fiscal Code : RBASFN58T21F384Q |
|
|
|
Residence: |
|
Pablo Picasso |
, 700/I |
- 51015 |
Monsummano Terme |
(PT) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Luzzi |
Lanfranco |
|
|
|
Born in Cotignola |
(RA) |
on 04/05/1944 |
- Fiscal Code : LZZLFR44E04D121Z |
|
|
|
Residence: |
|
Del Pino |
, 16 |
- 51010 |
Marliana |
(PT) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Rastelli |
Simone |
|
|
|
Born in Pistoia |
(PT) |
on 26/04/1966 |
- Fiscal Code : RSTSMN66D26G713J |
|
|
|
Residence: |
|
Monteverdi |
, 34 |
- 51016 |
Montecatini-Terme |
(PT) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Barni |
Gianfranco |
|
|
|
Born in Monsummano Terme |
(PT) |
on 21/04/1946 |
- Fiscal Code : BRNGFR46D21F384W |
|
|
|
Residence: |
|
Vecchia Di Maona |
, 13/B |
- 51016 |
Montecatini-Terme |
(PT) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Innocenti |
Marco |
|
|
|
Born in Monsummano Terme |
(PT) |
on 15/11/1946 |
- Fiscal Code : NNCMRC46S15F384A |
|
|
|
Residence: |
|
Gragnano |
, 619 |
- 51015 |
Monsummano Terme |
(PT) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
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
Subject is active since 1989
The analysis is based on the latest 3 balance sheets.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 5,6% in 2012 keeping the turnover steady during the last
two years.
The return on Investment in the last financial year was positive (3,66%)
falling within the field's average.
An operating result of Eur. 1.263.778 has been registered. recording a
drop as opposed to the year before (-60,46%).
A gross operating margine for a value of Eur. 1.756.802 was reached.
showing a drop (-49,92%).
The analysis shows a fair financial position as the indebtedness volume
is acceptable (1,04) and decreasing as against 2011.
It's shareholders funds amount to Eur. 10.966.105 , unchanged if
compared to 2011.
During the last financial year total debts volume reached Eur.
22.082.718 (Eur. 8.539.588 were m/l term ones) 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.
The liquidity level is positive (2,09).
Accounts receivable average term is high (108,55 days). within the
average values of the sector.
During financial year 2012 the cash flow amounted to Eur. 1.021.752
Labour cost expenses amount to Eur. 1.572.662 , representing 4,13% on
the total of production costs. , whereas 4,06% is the incidence on sales
revenues.
Limited financial charges in relation to sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
38.706.845 |
|
Profit (Loss) for the period |
614.225 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
39.296.810 |
|
Profit (Loss) for the period |
1.515.542 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
39.286.478 |
|
Profit (Loss) for the period |
1.593.502 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.110.278 |
|
Profit (Loss) for the period |
150.058 |
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 |
0,10 |
0,20 |
0,23 |
|
Elasticity Ratio |
Units |
0,82 |
0,82 |
0,78 |
0,73 |
|
Availability of stock |
Units |
0,38 |
0,33 |
0,27 |
0,14 |
|
Total Liquidity Ratio |
Units |
0,44 |
0,48 |
0,52 |
0,50 |
|
Quick Ratio |
Units |
0,06 |
0,06 |
0,06 |
0,01 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,04 |
1,27 |
0,99 |
3,03 |
|
Self Financing Ratio |
Units |
0,32 |
0,29 |
0,29 |
0,21 |
|
Capital protection Ratio |
Units |
0,73 |
0,63 |
0,55 |
0,67 |
|
Liabilities consolidation quotient |
Units |
0,67 |
0,59 |
1,01 |
0,14 |
|
Financing |
Units |
2,01 |
2,29 |
2,33 |
3,67 |
|
Permanent Indebtedness Ratio |
Units |
0,58 |
0,55 |
0,63 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,26 |
0,25 |
0,35 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,40 |
1,51 |
1,46 |
1,47 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
5,94 |
5,25 |
3,10 |
1,34 |
|
Current ratio |
Units |
2,09 |
1,90 |
2,28 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,12 |
1,12 |
1,50 |
0,80 |
|
Structure's primary quotient |
Units |
3,24 |
2,81 |
1,41 |
0,78 |
|
Treasury's primary quotient |
Units |
0,15 |
0,14 |
0,17 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
314,75 |
341,95 |
347,29 |
470,58 |
|
Current Capital ( net ) |
Value |
14.807.793 |
13.653.710 |
13.486.026 |
746.044 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
2,64 |
4,65 |
4,81 |
1,38 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
5,60 |
14,64 |
18,03 |
0,61 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
10,28 |
24,43 |
25,66 |
6,25 |
|
Return on Investment ( R.O.I. ) |
% |
3,66 |
9,03 |
8,26 |
2,57 |
|
Return/ Sales |
% |
3,26 |
8,13 |
6,45 |
1,76 |
|
Extra Management revenues/charges incid. |
% |
48,60 |
47,41 |
62,87 |
9,28 |
|
Cash Flow |
Value |
1.021.752 |
1.827.421 |
1.889.887 |
122.756 |
|
Operating Profit |
Value |
1.263.778 |
3.196.503 |
2.534.696 |
177.996 |
|
Gross Operating Margin |
Value |
1.756.802 |
3.508.382 |
2.831.081 |
312.423 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
108,55 |
114,67 |
115,45 |
104,19 |
|
Debts to suppliers average term |
Days |
39,86 |
48,24 |
47,51 |
76,69 |
|
Average stock waiting period |
Days |
122,93 |
108,12 |
75,11 |
44,02 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,12 |
1,11 |
1,28 |
1,59 |
|
Rate of stock return |
Units |
2,93 |
3,33 |
4,79 |
8,18 |
|
Labour cost incidence |
% |
4,06 |
3,87 |
3,53 |
6,85 |
|
Net financial revenues/ charges incidence |
% |
-0,44 |
-1,70 |
-0,68 |
-1,39 |
|
Labour cost on purchasing expenses |
% |
4,13 |
3,95 |
3,72 |
6,46 |
|
Short-term financing charges |
% |
0,89 |
2,90 |
1,35 |
2,98 |
|
Capital on hand |
% |
89,17 |
90,08 |
78,11 |
62,75 |
|
Sales pro employee |
Value |
789.935 |
1.091.578 |
1.122.470 |
554.666 |
|
Labour cost pro employee |
Value |
32.095 |
42.296 |
39.662 |
32.328 |
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 |
: |
2.009 |
|
- per energy consume |
: |
122 |
Sector Data
The values are calculated on a base of 111 significant companies.
The companies cash their credits on an average of 104 dd.
The average duration of suppliers debts is about 77 dd.
The sector's profitability is on an average of 1,38%.
The labour cost affects the turnover in the measure of 6,85%.
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 1,59.
The employees costs represent the 6,46% of the production costs.
Statistical Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered remarkably risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.482.
The insolvency index for the region is 0,70, , while for the province it
is 0,91.
Total Bankrupt companies in the province : 1.559.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.