MIRA
INFORM REPORT
|
Report Date : |
29.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CO.DI.SAN. COMMERCIO DISTRIBUZIONE SANIT ARI S.P.A. |
|
|
|
|
Registered Office : |
Strada Provinciale 3/iii, Via Pantano, 24
C/DA VALCORRENTE 95032 – Belpasso (CT) -IT- |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.08.1979 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Wholesale of medical and orthopaedic products |
|
|
|
|
No. of Employees |
from 36 to 50 |
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 |
|
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
CO.DI.SAN. COMMERCIO
DISTRIBUZIONE SANIT ARI S.P.A.
Strada Provinciale 3/iii, Via Pantano, 24 C/DA VALCORRENTE
95032 - Belpasso (CT) -IT-
Summary
|
Fiscal Code |
: |
00784230872 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
01/08/1979 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
15.500.000/18.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
|
|
|
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
Wholesale of medical and orthopaedic products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00784230872 |
|
Foreign Trade Reg. no. : CT000466 since 12/02/1992 |
|
Chamber of Commerce no. : 121339 of Catania since 24/08/1979 |
|
Firms' Register : CT015-11317 of Catania since 19/02/1996 |
|
V.A.T. Code : 00784230872 |
|
Trade Agents Licence : 7352 of Catania since 04/03/1991 |
|
R. E. C. no. : 24420 of Catania since 07/05/1985 |
|
R. E. C. no. : 0024420 of Catania since 07/05/1985 |
|
Foundation date |
: 01/08/1979 |
|
|
Establishment date |
: 01/08/1979 |
|
|
Start of Activities |
: 01/08/1979 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.626.440 |
|
|
Subscribed Capital |
: 2.626.440 |
|
|
Paid up Capital |
: 2.626.440 |
|
Members
|
|
Monteforte |
Angelo |
|
|
|
Born in Scicli |
(RG) |
on 21/03/1943 |
- Fiscal Code : MNTNGL43C21I535K |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Monteforte |
Eva |
|
|
|
Born in Catania |
(CT) |
on 29/01/1980 |
- Fiscal Code : MNTVEA80A69C351G |
|
|
|
Residence: |
|
Umberto |
, 93 |
- 95027 |
San Gregorio di Catania |
(CT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Technical Manager |
28/09/2007 |
|
|
|
|
Monteforte |
Roberto |
|
|
|
Born in Scicli |
(RG) |
on 02/06/1958 |
- Fiscal Code : MNTRRT58H02I535N |
|
|
|
Residence: |
|
Roma |
, 9 |
- 95125 |
Catania |
(CT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
29/04/2014 |
|
|
|
|
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.
|
|
Monteforte |
Roberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Compagnia Servizi Integrati S.r.l. |
Catania (CT) - IT - |
04551040878 |
Director |
Withdrawn |
Registered |
|
Compagnia Servizi Integrati S.r.l. |
Catania (CT) - IT - |
04551040878 |
Sole Director |
Active |
Registered |
|
Monteforte Roberto |
Catania (CT) - IT - |
MNTRRT58H02I535N |
Proprietor |
Withdrawn |
Ceased |
|
Centro Di Ricerca Life Lab S.r.l. |
Belpasso (CT) - IT - |
11018011004 |
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 |
|
Monteforte Roberto |
Catania - IT - |
MNTRRT58H02I535N |
787.932 .Eur |
30,00 |
|
Monteforte Angelo |
|
MNTNGL43C21I535K |
787.932 .Eur |
30,00 |
|
Soffritti Margherita |
|
SFFMGH53C48C351S |
262.644 .Eur |
10,00 |
|
D'Agata Agatina Patrizia |
|
DGTGNP58D47C351B |
262.644 .Eur |
10,00 |
|
Monteforte Eva |
San Gregorio di Catania - IT - |
MNTVEA80A69C351G |
262.644 .Eur |
10,00 |
|
Monteforte Michele Roberto |
|
MNTMHL77R16C351R |
262.644 .Eur |
10,00 |
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 |
|
Compagnia Servizi Sanitari S.r.l. |
|
04478150875 |
6.000 .Eur |
30,00 |
|
|
Active |
|
Terme Di Vulcano S.r.l. |
Catania - IT - |
04744820871 |
19.000 .Eur |
19,00 |
|
|
Active |
|
Compagnia Servizi Integrati S.r.l. |
Catania - IT - |
04551040878 |
60.000 .Eur |
60,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 23/10/1990 |
|
|
|
|
|
|
3/iii, Via Pantano |
, 24 |
- 95032 |
- Belpasso |
(CT) |
- IT - |
|
|
|
|
Total Surface: 40.000 Sq.mt. |
|
|
|
|
PHONE |
: 0957867474 |
|
|
|
|
PHONE |
: 0957867463 |
|
|
|
|
FAX |
: 0957867042 |
|
|
|
|
Employees |
: 38 |
|
Fittings and Equipment for a value of 950.000 |
Eur |
|
Stocks for a value of 4.840.000 |
Eur |
|
|
The firm operates abroad as importer..
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Import comes generally from the following nations:
|
- Great Britain |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal
form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
23/10/1990 |
|
Limited liability company |
Joint stock company |
25/11/1992 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Patti |
Vincenzo |
|
|
|
Born in Catania |
(CT) |
on 12/02/1939 |
- Fiscal Code : PTTVCN39B12C351H |
|
|
|
Residence: |
|
Guglielmo Oberdan |
, 119 |
- 95100 |
Catania |
(CT) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Montalto |
Massimo |
|
|
|
Born in Catania |
(CT) |
on 28/03/1967 |
- Fiscal Code : MNTMSM67C28C351N |
|
|
|
Residence: |
|
San Nicolo' Al Borgo |
, 66 |
- 95100 |
Catania |
(CT) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Patti |
Giuseppe |
|
|
|
Born in Catania |
(CT) |
on 10/09/1967 |
- Fiscal Code : PTTGPP67P10C351X |
|
|
|
Residence: |
|
Ionio |
, 35 |
- 95129 |
Catania |
(CT) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Quattrocchi |
Giuseppe |
|
|
|
Born in Catania |
(CT) |
on 08/02/1950 |
- Fiscal Code : QTTGPP50B08C351F |
|
|
|
Residence: |
|
S. Giacomo |
, 117 |
- 95019 |
Zafferana Etnea |
(CT) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Monteforte |
Roberto |
|
|
|
Born in Scicli |
(RG) |
on 02/06/1958 |
- Fiscal Code : MNTRRT58H02I535N |
|
|
|
Residence: |
|
Roma |
, 9 |
- 95125 |
Catania |
(CT) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Scacciante |
Agrippino |
|
|
|
Born in Catania |
(CT) |
on 21/09/1969 |
- Fiscal Code : SCCGPP69P21C351I |
|
|
|
Residence: |
|
Cordova |
, 181 |
- 95042 |
Grammichele |
(CT) |
- IT - |
|
Ex-Postions |
|
Technical Manager |
|
|
Toscano |
Vera Maria |
|
|
|
Born in Catania |
(CT) |
on 09/11/1949 |
- Fiscal Code : TSCVMR49S49C351G |
|
|
|
Residence: |
|
A. Gioieni |
, 38 |
- 95100 |
Catania |
(CT) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Pulvirenti |
Cinzia Manuela |
|
|
|
Born in Catania |
(CT) |
on 23/11/1973 |
- Fiscal Code : PLVCZM73S63C351Q |
|
|
|
Residence: |
|
Acicastello |
, 22 |
- 95100 |
Catania |
(CT) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Amico |
Davide |
|
|
|
Born in Siracusa |
(SR) |
on 08/10/1973 |
- Fiscal Code : MCADVD73R08I754T |
|
|
|
Residence: |
|
Alessandro Specchi |
, 73 |
- 96100 |
Siracusa |
(SR) |
- IT - |
|
Ex-Postions |
|
Technical Manager |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
INTESA - SAN PAOLO |
|
|
|
|
|
|
Financial and Economical Analysis
The company is active since 1979
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
Last two financial years were marked by losses; in 2012 r.o.e. is
-1,52%.
The operating result was positive in the last financial year (1,49%) and
reflects the field's average.
The operating result is positive and amounts to Eur. 514.986 , with no
sizeable change as opposed to the year before.
During the latest financial year the gross operating margin amounted to
Eur. 1.203.347 ,with no change if compared to the year before.
The financial status of the company is fairly balanced with an
indebtedness level of 2,52 even though on the increase if compared to 2011.
With regard to equity capital, an amount of Eur. 5.739.072 is
registered. , unchanged as opposed to the preceding year.
During the last financial year total debts volume reached Eur.
24.137.078 (Eur. 9.524.621 were m/l term ones) showing a stable trend as
opposed to 2011 (Eur. 23.958.751).
The recourse to bank credit is slightly high and also borrowings from
suppliers appear to be high, with an average payment period equal to 147,45 gg.
besides being higher than sector's average.
Liquidity is good (1,26)
Accounts receivable average term is high (265,61 days). besides being
higher than the sector's average.
The financial management generated a cash flow of Eur. 600.956.
During 2012 financial year labour costs amounted to Eur. 1.012.140, with
a 6,32% incidence on production costs. , with a 6,31% incidence on turnover.
The financial management is marked by a high incidence of financial
charges in relation to sales revenues (-4,74%).
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
16.032.897 |
|
Profit (Loss) for the period |
-87.405 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
16.186.537 |
|
Profit (Loss) for the period |
-83.780 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
16.787.579 |
|
Profit (Loss) for the period |
-89.394 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
16.018.491 |
|
Profit (Loss) for the period |
-238.664 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.518.946 |
|
Profit (Loss) for the period |
-1.505.723 |
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 |
0,46 |
0,45 |
0,46 |
0,09 |
|
Elasticity Ratio |
Units |
0,53 |
0,55 |
0,54 |
0,89 |
|
Availability of stock |
Units |
0,14 |
0,11 |
0,12 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,39 |
0,43 |
0,42 |
0,54 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,00 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,52 |
2,36 |
2,24 |
3,95 |
|
Self Financing Ratio |
Units |
0,17 |
0,17 |
0,17 |
0,17 |
|
Capital protection Ratio |
Units |
0,56 |
0,56 |
0,57 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,68 |
0,73 |
0,80 |
0,10 |
|
Financing |
Units |
4,21 |
4,11 |
3,98 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,45 |
0,47 |
0,48 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,29 |
0,30 |
0,31 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,85 |
2,82 |
2,71 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,98 |
1,04 |
1,06 |
2,37 |
|
Current ratio |
Units |
1,26 |
1,34 |
1,38 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
1,06 |
1,08 |
0,80 |
|
Structure's primary quotient |
Units |
0,36 |
0,38 |
0,38 |
1,48 |
|
Treasury's primary quotient |
Units |
0,01 |
0,02 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
602,25 |
589,60 |
577,17 |
602,26 |
|
Current Capital ( net ) |
Value |
3.741.644 |
4.704.907 |
5.038.081 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,75 |
3,66 |
3,20 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-1,52 |
-1,44 |
-1,51 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-0,68 |
-0,58 |
-1,17 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
1,49 |
1,50 |
1,52 |
4,18 |
|
Return/ Sales |
% |
3,21 |
3,19 |
3,09 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
-16,97 |
-16,22 |
-17,24 |
27,96 |
|
Cash Flow |
Value |
600.956 |
593.220 |
536.610 |
44.823 |
|
Operating Profit |
Value |
514.986 |
516.474 |
518.659 |
74.603 |
|
Gross Operating Margin |
Value |
1.203.347 |
1.193.474 |
1.144.663 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
265,61 |
295,72 |
269,81 |
113,70 |
|
Debts to suppliers average term |
Days |
147,45 |
139,78 |
145,15 |
118,14 |
|
Average stock waiting period |
Days |
108,57 |
86,24 |
85,70 |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,46 |
0,47 |
0,49 |
1,25 |
|
Rate of stock return |
Units |
3,32 |
4,17 |
4,20 |
4,88 |
|
Labour cost incidence |
% |
6,31 |
6,18 |
6,04 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-4,74 |
-3,44 |
-3,40 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
6,32 |
6,18 |
6,11 |
8,25 |
|
Short-term financing charges |
% |
3,87 |
3,49 |
2,44 |
2,76 |
|
Capital on hand |
% |
215,58 |
212,23 |
203,20 |
79,85 |
|
Sales pro employee |
Value |
517.190 |
522.146 |
508.714 |
397.742 |
|
Labour cost pro employee |
Value |
32.649 |
32.244 |
30.726 |
33.267 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
1.842.252 |
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 remarkably risky.
In the region 54.738 protested subjects are found; in the province they
count to 13.788.
The insolvency index for the region is 1,09, , while for the province it
is 1,29.
Total Bankrupt companies in the province : 3.235.
Total Bankrupt companies in the region : 14.491.
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.